|
| May 24, 2008 | Saturday | Jamadi-ul-Awwal 18, 1429 |
|
Stocks crash by 615.26 points
KARACHI, May 23: The KSE 100-share index on Friday crashed from the recent highs by 615.26 points or 4.52 per cent wiping out Rs187 billion from the market capital on panic-selling triggered by 1.5... 
|
|
Asia shifts priorities as inflation threatens
SINGAPORE, May 23: Singapore’s inflation hit a 26-year high in April while Indian wholesale prices are surging, underlining a shift in priorities across Asia as policy makers focus on grappling with growing price pressures....
|
|
||
|
Oil rebounds towards record peak
LONDON, May 23: Crude oil prices rallied beyond $133 on Friday, close to record highs reached this week on concerns that global output will not satisfy rising demand for energy, traders said....
|
|
Karachi Fish Harbour to be modernised
ISLAMABAD, May 23: The Centre and the Sindh government have agreed, in principle, to evaluate a suggestion by the Competitiveness Support Fund for bringing in an internationally renowned fish harbour management...
|
|
|
||
|
WTO customs union plan may hurt free trade
GENEVA, May 23: Proposals to give special treatment to customs unions between developing countries risk undermining efforts to open up markets for industrial goods, a senior developed country diplomat said on Friday....
|
|
Instructions for banks, sponsors issued
KARACHI, May 23: The State Bank of Pakistan issued on Friday consolidated and revised instructions to facilitate the banks and their sponsor shareholders to ensure compliance of the SBP instructions earlier issued in this regard....
|
|
|
||
|
FPCCI seeks steps for broadening tax base
ISLAMABAD, May 23: The Federation of Pakistan Chambers of Commerce and Industry has asked the finance ministry to announce measures in the upcoming budget to broaden tax base for adequate resource mobilisation....
|
|
Dollar slides
LONDON, May 23: The dollar fell against the euro on Friday on US housing data showing a record number of unsold homes in the United States and falling real estate prices....
|
|
|
||
|
Rupee rallies after SBP move
KARACHI, May 23: The rupee firmed 1.2 per cent against the dollar on Friday, pulling away from a record closing low set this week, after the central bank raised interest rates sharply to tackle inflation....
|
|
Trade, industry flay rate hike
KARACHI/LAHORE, May 23: Trade and industry leaders have criticised measures taken by the State Bank of Pakistan under the pretext of curbing inflation and said that these would rather hurt business...
|
|
|
||
|
Banks profit to fall by 20pc
KARACHI, May 23: The interim monetary policy would reduce banks profit by 20-30 per cent, and a total liquidity of Rs62 billion would go out of the banking system, said analysts....
|
|
Tariff proposal for dyes
RAWALPINDI, May 23: The Engineering Development Board (EDB) submitted its recommendations to the Federal Board of Revenue for tariff on dyes which were finalised in the meeting of stakeholders held in Islamabad on Friday....
|
|
|
||
|
KSE, EAC meet on 25th
KARACHI, May 23: The newly-constituted Economic Advisory Council (EAC) has invited the representatives of the Karachi Stock Exchange for a meeting on Sunday (May 25) to discuss capital market policy, a press statement released by the KSE on Friday, said....
|
|
Trading gets slow on cotton market
KARACHI, May 23: Trading on the cotton market was relatively slow on Friday owing to a weekly closure observed by the ginners in the Punjab cotton belt and the absence of selling offers by them....
|
|
|
||
|
Karachi Port operations
KARACHI, May 23: Eight ships carrying containers, general cargo and to load cement are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
|
|
Port Qasim
KARACHI, May 23: Five ships scheduled to load/offload containers, cement, palm oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Friday....
|
|
|
||
|
Appointment
KARACHI, May 23: In pursuance of Government of Pakistan Ministry of Commerce Office Order F.No.2(28)/2007-Ins. dated May 22, 2008, consequent upon expiry of the contract appointment of Kamal Afsar, chairman, State...
|
|
Asian stocks close mostly lower
HONG KONG, May 23: Asian stocks closed mostly lower on Friday amid concerns that sky-high oil prices and soaring food costs will stoke inflation and threaten economic growth....
|
|
|
||
|
Gold bounces on bargain hunting
LONDON, May 23: Gold bounced on Friday after a drop from a one-month high spurred buying from bargain hunters, but jewellers stayed on the sidelines, awaiting clues from the energy market....
|
|
Palm oil prices up
JAKARTA, May 23: Indonesian palm oil prices rose on Friday, gaining support from firmer Malaysian crude palm oil futures, but investors were cautious ahead of a plan by Jakarta to raise subsidised fuel prices....
|
|
|
||
|
Karachi market rates
KARACHI, May 23: The following were Friday commodity market rates in rupees....
|
| |
|
|
||
