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| February 27, 2008 | Wednesday | Safar 19, 1429 |
KSE index crosses 15,000 barrier
KARACHI, Feb 26: The Karachi Stock Exchange (KSE) 100-share index on Tuesday recovered the last two sessions’ fall and was quoted higher by 109 points, slightly above the barrier of 15,000...
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Removal of duty, premium can cut diesel prices
ISLAMABAD, Feb 26: The removal of premium and deemed duty on diesel and kerosene being allowed to refineries under an anomalous pricing mechanism can undo the need for a price-hike, it is learnt....
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Low turnout on utility stores under bachat scheme
KARACHI, Feb 26: The Utility Bachat Card scheme, launched this month at the utility stores, has received an average response from the beneficiaries registered with the Pakistan Bait ul Maal....
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OGDCL may sell 20 tons of LPG without bids
ISLAMABAD, Feb 26: The Oil and Gas Development Company Limited (OGDCL) is under pressure to award a contract for the sale of about 20 tons of liquefied petroleum gas to an influential party without inviting tenders, it is learnt....
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Oil pushes through $101
NEW YORK, Feb 26: Oil surged over $101 a barrel on Tuesday to within pennies of a record as investors reacted to weakness in the US dollar following a batch of gloomy economic data....
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Farmers reject wheat price
KARACHI, Feb 26: Growers criticised the government on Tuesday for announcing support or procurement price for wheat ‘too late’ and ‘too little’ saying it would have no impact on the size...
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Early completion of Doha Round to benefit Pakistan
ISLAMABAD, Feb 26: The country’s export will suffer in case the Doha Round negotiations are not concluded this year, observes Pakistan Permanent Representative and Ambassador to WTO Dr Manzoor Ahmad....
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Credit off-take remains slow
KARACHI, Feb 26: No considerable large-scale borrowing has been made for expansion of any industry or initiating new projects during the current month amid uncertain political situation even after the national elections, bankers told Dawn on Tuesday....
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Acquisitions, mergers picking up momentum
KARACHI, Feb 26: Corporate mergers and acquisitions (M&A) are picking up pace. People watching the moves suspect that combining assets in the financial sector has been prompted by the regulators’ intent...
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Sale of Roosevelt Hotel opposed
ISLAMABAD, Feb 26: The privatisation of PIA’s Roosevelt Hotel in New York has been opposed by Pakistan People’s Party which wants the caretakers to leave the issue for the new government....
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Expo Pakistan
ISLAMABAD, Feb 26: The Trade Development Authority of Pakistan has rescheduled the Expo Pakistan, 2008, which would now be held from October 27- 30.—APP...
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China warns foreign banks on forex rules
BEIJING, Feb 26: A Chinese watchdog on Tuesday warned foreign banks against violating foreign exchange rules, in a signal that the government was mulling a move to curb speculative capital inflows....
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Karachi Port operations
KARACHI, Feb 26: Four ships carrying containers and to load cement and clinkers are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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US has no plans to stop adding emergency oil
WASHINGTON, Feb 26: Despite record crude oil prices above $100 a barrel, the US Energy Department told Congress on Tuesday it had no plans to stop adding about 70,000 barrels per day of oil to America’s emergency oil stockpile....
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Tax cuts sought for Nooriabad industries
KARACHI, Feb 26: Nooriabad Association of Trade and Industry Chairman Fazal Karim Dadabhoy has urged the government to allow 50 per cent reduction in taxes on import of plant machinery for establishing new units or upgrading present one in Nooriabad....
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Hunt for quality lint keeps prices firm
KARACHI, Feb 26: Cotton market on Tuesday maintained firm outlook as quality lint remained in strong demand, but ginners were said to be reluctant sellers anticipating further increase in prices....
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Liechtenstein tax probe widens
BERLIN, Feb 26: The United States and Australia joined in the hunt for tax dodgers using Liechtenstein as Germany said on Tuesday it had widened its investigation into the scam in the Alpine principality....
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SME credit advisory body meets tomorrow
KARACHI, Feb 26: The State Bank of Pakistan (SBP) has convened the first meeting of the newly-constituted SME Credit Advisory Committee (SMECAC) at its head office on Thursday....
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Dollar falls
LONDON, Feb 26: The dollar weakened against the euro on Tuesday, dragged down by dismal US housing and consumer confidence figures that increased market expectations of a cut in US interest rates, dealers said....
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Gold drops on possible IMF sales
LONDON, Feb 26: Gold fell 1.2 per cent on Tuesday as possible sales of a part of more than 3,000 tons of gold held by the International Monetary Fund dampened sentiment....
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Asian stock markets close mixed
HONG KONG, Feb 26: Asian shares closed mixed after falling off their peaks on Tuesday with lingering fears over the health of the United States economy prompting a bout of late profit taking....
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Palm oil prices lower
KUALA LUMPUR, Feb 26: Malaysian palm oil futures fell on Tuesday as investors booked profits from a record rally on worries that funds had pushed the market too high, traders said....
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US Fed’s credibility ‘rock solid’
LONDON, Feb 26: The US Federal Reserve’s credibility on inflation remains untarnished by its aggressive easing of monetary policy in the face of rising price pressures across many global commodity markets, a senior US Treasury Department official said on Tuesday....
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