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| April 24, 2008 | Thursday | Rabi-us-Sani 17, 1429 |
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IP to invest more in Kapco, Uch plants
ISLAMABAD, April 23: The International Power (IP) of the United Kingdom has decided to invest more in Pakistan to expand Kapco by 400 megawatts and Uch power plant by 600 megawatts to meet the future growing demand of electricity.... 
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Kabul allowed Indian wheat through Wagah
ISLAMABAD, April 23: Prime Minister Yusuf Raza Gilani has accepted the Afghanistan’s years-old request conditionally to allow it to use the Pakistani soil for the import of Indian wheat amidst fears...
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Stocks lose value despite higher corporate earnings
KARACHI, April 23: Stocks suffered fresh pruning on Wednesday despite higher interim profits by some of the leading companies as a section of investors took profits at the inflated levels after the corporate announcements minus expected payouts....
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Non-textile exports up by 31pc in July-March
ISLAMABAD, April 23: The export of non-textile products witnessed a substantial increase of 31 per cent during the first nine months (July-March) of the current fiscal year over the same period last year....
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Yield on 6-month T-bill unchanged
KARACHI, April 23: The cut-off yield on Pakistan’s benchmark six-month Treasury bills remained unchanged at 9.8686 per cent at an auction on Wednesday, the central bank said....
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Rupee hits all-time low vs dollar
KARACHI, April 23: The rupee fell on Wednesday to an all-time-low against the dollar, even lower than the parity when the greenback knocked down the local currency in the aftermath of the 9/11 incident....
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FAO urges bio-fuel development strategy
RAWALPINDI, April 23: The Food and Agriculture Organisation (FAO) has warned that increasing demand for liquid bio-fuels, such as bio-ethanol and bio-diesel, conversion of agricultural land for their production and increased...
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200 tons of LPG being smuggled daily from Iran
KARACHI, April 23: Around 170-200 tons of Iranian liquefied petroleum gas (LPG) is being smuggled into Pakistan daily, and traders are mixing it with the locally-produced gas to fleece consumers....
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Dollar rebounds
LONDON, April 23: The dollar staged a rebound against the euro on Wednesday on the back of stronger stock markets and weak eurozone manufacturing data....
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Rice prices restart upward drive
KARACHI, April 23: Rice prices restarted upward drive and finished higher by Rs3,000 to Rs5,000 per ton on Wednesday on strong demand from exporters and big traders, market sources said....
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TDAP’s offer to get expo land back from police
KARACHI, April 23: The Trade Development Authority of Pakistan has offered to construct a model police station to get back its six acres of land from illegal occupation....
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ECB seen holding rates steady
FRANKFURT, April 23: The ECB is holding firm on interest rates while waiting to see if global growth and commodity prices run out of steam, analysts said on Wednesday following new insights from central bank policymakers....
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Oil prices ease after surging close to $120
LONDON, April 23: Oil prices dipped on Wednesday, after spiking to record levels near $120, as traders digested a mixed report on US stockpiles amid mounting international concern over soaring energy costs....
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Date for WT application extended again
KARACHI, April 23: The Federal Board of Revenue has further extended the date for application of 2.5 per cent withholding tax on sale of locally-assembled cars from April 20 to June 30....
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China cuts stamp duty on share trading
BEIJING, April 23: China has decided to cut the stamp duty on stock market transactions to 0.1 per cent from 0.3 per cent with effect from Thursday, state media said, following deep plunges in share prices....
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Trading gets slow on cotton market
KARACHI, April 23: Trading activity on the cotton market was a bit slow on Wednesday as ginners held on to their unsold positions amid hopes of an increase in prices late in the season....
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Northwest, Delta post losses
NEW YORK, April 23: US carriers Delta Air Lines and Northwest Airlines announced on Wednesday a combined $10.5 billion in losses as soaring fuel prices eroded their value ahead of their plan to create the world’s biggest airline....
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Karachi Port operations
KARACHI, April 23: Nine ships carrying chemicals and containers and to load cement and ethanol are due to arrive at the outer anchorage on Thursday, according to KPT sources....
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GM global sales dip
DETROIT, April 23: General Motors Corp. said on Wednesday its global sales declined slightly in the first quarter to 2.25 million vehicles on weakness in its home market....
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Port Qasim
KARACHI, April 23: Three ships scheduled to load/offload containers, LPG and diesel oil were allotted berths during the last 24 hours, said a PQA press release on Wednesday....
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European stocks higher
LONDON, April 23: Europe’s main stock markets closed higher on Wednesday, taking their lead from a US rebound after choppy trade as investors waited for corporate results and economic data to give a clearer lead....
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UBS new chief
BASEL, April 23: Swiss banking giant UBS got approval for a fresh infusion of $14.8 billion and a new chairman on Wednesday but shareholders at an annual general meeting made plain their anger over huge subprime losses....
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Asian stocks close mostly up
HONG KONG, April 23: Asian stocks closed mostly up on Wednesday, shaking off rising inflation, a fresh record for the price of crude oil and concerns about the fallout from the global credit crunch....
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Karachi market rates
KARACHI, April 23: The following were Wednesday commodity market rates in rupees....
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Gold falls in London
LONDON, April 23: Gold drifted lower on Wednesday tracking as the dollar firmed against the euro, with investors staying on the sidelines as the metal struggled to retain recent gains, analysts said....
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Palm oil soars 3.5pc
KUALA LUMPUR, April 23 : Malaysian crude palm oil futures jumped as much as 3.5 per cent on Wednesday on expectations Argentine soy farmers will resume strike action while consumer countries start buying vegetable oils this month....
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Global slowdown to hit emerging European growth: IMF
WARSAW, April 23: The global slowdown will put the brakes on central and eastern Europe’s rapid economic growth this year but the region will continue catching up with the richer West, the IMF said on Wednesday....
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