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| June 14, 2008 | Saturday | Jamadi-us-Sani 09, 1429 |
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3.1 million Americans face hunger
WASHINGTON, June 13: About 3.1 million residents of New York City, or about 40 per cent of the population, struggled to put food on the table in 2007, a new study out on Friday found.... 
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Stock market held hostage to political dishevel
KARACHI, June 13: The Karachi Stock Exchange lost 193 points or 1.4 per cent during the week ended on Friday, which evidenced that it was neither the Capital Gains Tax (CGT)...
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Centre deprives Sindh of Rs42bn
KARACHI, June 13: Islamabad has cut down on Sindh’s share of funds from gas development surcharge and other levies on oil and gas in the current fiscal year as well as next year, official and authoritative sources informed Dawn on Friday....
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Long march affecting business
ISLAMABAD, June 13: The issue of restoration of judges and the resultant long march are affecting business activities and day to day life, which must be resolved on a priority basis....
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Govt in a fix over gas price hike proposal
KARACHI, June 13: The government is in a fix over allowing a 28 per cent increase in the tariff of the Sui Southern Gas Company as recommended by the Oil and Gas Regulatory Authority (Ogra)....
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OCAC, dealers lock horns on petrol shortage
KARACHI, June 13: Petrol pump dealers have started clamouring about petrol shortage ahead of fortnight price revision on Sunday....
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Stocks lose 84 points as support turns shy
KARACHI, June 13: The share market on Friday failed to extend the post-budget rally as despite renewed support on selected counters broader market stayed weak in the absence of strong demand from any quarter, including the financial institutions....
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Hotel tax to be cut by 20pc in Sindh
KARACHI, June 13: The hotel room capacity tax will be cut by 20 per cent from July 1, 2008 on demand of the hotel owners, sources at the ministry of excise and taxation revealed on Friday....
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Progress on rebuilding of KPT berths reviewed
KARACHI, June 13: Secretary Ministry of Ports and Shipping Saleem Khan on Friday visited the Karachi Port to review the progress made by the Karachi Port Trust (KPT) on reconstruction of berths at East Wharf....
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Moody’s maintains Pakistan rating
KARACHI, June 13: Moody’s Investors Service maintains a stable outlook on Pakistan’s rating saying the structure of government debt largely consists of long-term credits from official bilateral and multilateral lenders, which adds stability and reduces rollover risks....
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Ogra declines SSGC plea for money
KARACHI, June 13: The Oil and Gas Regulatory Auhority (Ogra) has declined a demand of the Sui Southern Gas Company for Rs1,197 million on account of expenses of the Inter-State Gas Systems (Pvt) Limited (ISGSL)....
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LPG prices raised
KARACHI, June 13: LPG Distributors Association Pakistan chairman Abdul Hadi Khan has said that the producers and marketing companies had again raised the prices of liquefied petroleum gas in Punjab and the NWFP by Rs1.28...
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OCAC warns over OMC’s margin, pricing formula
KARACHI, June 13: The Oil Companies Advisory Committee (OCAC) warned on Friday that any change in the refining pricing formula and oil marketing companies’ margin would affect availability of petroleum products....
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Listless trading on cotton market
KARACHI, June 13: Trading activity on the cotton market on Friday remained insipid due to higher asking prices by the ginners and closure of southern Punjab markets for weekly holiday....
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India’s inflation hits seven-year high
NEW DELHI, June 13: India’s inflation hit its highest level in over seven years on Friday, stoking expectations of more interest rate hikes that could slow growth and piling pressure on the government as elections loom....
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Oil prices slump in volatile trade
LONDON, June 13: Crude oil prices tumbled on Friday at the end of a volatile week during which the market reacted to supply and demand news and movements of the dollar....
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‘No relief for textile exporters’
FAISALABAD, June 13: Textile exporters are not happy with the new budget as the government, what they feel, announced nothing for this sector facing problems because of the high cost of doing business and challenges at national and international levels....
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Dollar gains
LONDON, June 13: The dollar rose against the euro on Friday after higher-than-expected US inflation data, with the European single currency also seen as affected by Ireland’s rejection of the Lisbon Treaty....
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Lahore CCI rejects new levy on power bills
LAHORE, June 13: The Lahore Chamber of Commerce and Industry on Friday criticised the government for imposing 10 per cent withholding tax on electricity bills exceeding Rs20,000 and termed it an anti-industry and anti-people step....
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Banks borrow Rs18.5bn
ISLAMABAD, June 13: Banks borrowed Rs18.5 billion from the State Bank of Pakistan’s discount window on Friday in a tight inter-bank money market, amid a lack of cash inflows....
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Karachi Port operations
KARACHI, June 13: Eight ships carrying containers, crude oil and to load ethanol are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, June 13: Three ships scheduled to load/offload containers and cement were accommodated berths during the last 24 hours, said a PQA press release on Friday....
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Saudi Pak Bank rating
KARACHI, June 13: The CR-VIS Credit Rating Company Limited has upgraded the medium- to long-term entity rating of Saudi Pak Commercial Bank (SPCBL) from ‘BBB+’ (Triple B Plus) to ‘A-’ (A Minus)....
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Asian stocks mixed ahead of US inflation data
HONG KONG, June 13: Asian stocks were mixed on Friday in cautious trade ahead of the release of key US inflation data and a crucial G8 meeting thought likely to deliver a boost to the dollar....
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Palm oil prices up 1.8pc
JAKARTA, June 13: Malaysian crude palm oil futures rose 1.8 per cent on Friday helped by firmed crude and soyoil markets but bearish fundamentals capped further gains....
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Gold prices lower
LONDON, June 13: Gold weakened in Europe on Friday after the euro slipped to a one-month low against the dollar in the wake of an Irish vote on EU reform....
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Karachi market rates
KARACHI, June 13: The following were Friday commodity market rates in rupees....
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Conversion rates
KARACHI: The following are June 14 State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates, and special US dollar bonds....
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