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Tuesday 30, June 2015
 
 
 
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Commodities


Suzuki Motors offers to reduce prices of different models

By: Web Desk, Uploaded: 30th June 2015

Suzuki Motors offers to reduce prices of different models by Mushtaq Ghumman ISLAMABAD: M/s Suzuki Motors has reportedly offered to reduce prices of different Suzuki models by Rs 0.1 million per car provided the government allows import of parts from India, well informed sources told Business Recorder. M/s Suzuki which is facing an inquiry in the Competition Commission of Pakistan (CCP) for delayed delivery and...


THE RUPEE: mixed patterns

By: Farah Jamil, Uploaded: 30th June 2015

THE RUPEE: mixed patterns A Mixed trend was witnessed on the money market on Monday as the rupee played both sides in process of trading, dealers said. The rupee picked up three paisa in terms of the dollar for buying and selling at Rs 101.80 and Rs 101.83, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however,...


THE RUPEE: rates firm

By: Web Desk, Uploaded: 29th June 2015

THE RUPEE: rates firm The rupee almost retained its levels against the dollar on the money market during the week, ended on Saturday June 27, 2015. In the interbank market, the rupee inched up by three paisas versus the dollar for buying and selling at Rs 101.78 and Rs 101.79. In the open market, the rupee held the week-opening...


Mepco completes 31 projects

By: Web Desk, Uploaded: 27th June 2015

Mepco completes 31 projects MULTAN: The Multan Electric Power Company (Mepco) completed 31 electricity projects with Rs 1.74 billion to provide uninterrupted power supply to consumers during the fiscal year 2014-15. According to official sources, the company in collaboration with the Asian Development bank and the World Bank had completed various projects to address tripping complaints and provision of...


THE RUPEE: rising trend

By: Web Desk, Uploaded: 27th June 2015

THE RUPEE: rising trend A rising trend was seen on the money market on Friday as the rupee managed to recover more ground against the dollar, dealers said. The rupee almost held the overnight levels against the dollar for buying and selling at Rs 101.78 and Rs 101.79 respectively, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee...


Fault in undersea cable disrupts internet services

By: Web Desk, Uploaded: 26th June 2015

Fault in undersea cable disrupts internet services KARACHI: Internet services will remain disturbed and disrupted in many parts of the city, Aaj News reported. The international submarine cable SEA-ME-WE 4 has experienced a fault in Arabian Sea, impacting internet services in the region including Pakistan. The restoration work has been initiated by the international consortium that manages the submarine cable systems, said...


Wapda and electric power

By: Web Desk, Uploaded: 26th June 2015

Wapda and electric power Editorial Water and Power Development Authority (Wapda) has approached Nepra, seeking an average increase in hydropower tariffs of 117 percent – from 1.74 rupee per unit in 2014-15 to 3.78 rupees per unit in 2015-16. Wapda’s determined revenue requirements are 120 billion rupees in 2015-16 in comparison to 55 billion rupees in 2014-15 – a...


THE RUPEE: minor changes

By: Web Desk, Uploaded: 25th June 2015

THE RUPEE: minor changes Slight fluctuations were seen in the value of the rupee versus the dollar on the money market on Wednesday, they said. The rupee gained four-paisa against the dollar for buying at Rs 101.78 and Rs 101.80 respectively, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee showed no change versus the dollar for buying...


THE RUPEE: dollar at Rs 103

By: Web Desk, Uploaded: 24th June 2015

THE RUPEE: dollar at Rs 103 The dollar crossed Rs 103 against the rupee on the money market on Tuesday due to slight rise in demand for the greenback, they said. The rupee slipped by two-paisa against the dollar for buying at Rs 101.82 and it also shed one-paisa for selling at Rs 101.83, dealers said. INTERBANK MARKET RATES: OPEN MARKET...


National Assembly approves Finance Bill 2015-16

By: Web Desk, Uploaded: 23rd June 2015

National Assembly approves Finance Bill 2015-16 ISLAMABAD: The National Assembly Tuesday approved the “Finance Bill 2015-16″ with total outlay of Rs 4,451 billion giving legal cover to budgetary proposals for the next financial year. Following threadbare discussions, the Bill was moved by Minister for Finance, Ishaq Dar to the House and was passed in the absence of the joint opposition. The...


N-power plants in Karachi: a dangerous proposition

By: Web Desk, Uploaded: 23rd June 2015

N-power plants in Karachi: a dangerous proposition The government has gone ahead with the plan to construct two nuclear power stations at Paradise Point near Karachi despite serious civil society reservations. According to a press report, the Sindh Environmental Protection Agency (SEPA) recently gave its approval to the project’s environmental impact assessment (EIA) report paving the way for the Pakistan Atomic Energy...


Credibility of budget estimates!

By: Web Desk, Uploaded: 23rd June 2015

Credibility of budget estimates! According to a Business Recorder exclusive, the federal budget has over-estimated its budgeted non-tax revenue by 56 billion rupees for the outgoing fiscal year by claiming in its revised estimates that the amount was realised through sale of 3G/4G licenses even though, as per Pakistan Telecommunication Authority (PTA) officials, no such transaction took place in...


THE RUPEE: easier trend

By: Web Desk, Uploaded: 23rd June 2015

THE RUPEE: easier trend Bears dominated the currency market on Monday as the rupee drifted lower against the dollar in the process of trading, they said. The rupee drifted lower slightly against the dollar for buying and selling at Rs 101.80 and Rs 101.82 respectively, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10-paisa versus the...


World Bank credits Pakistani leadership for “tremendous” economic growth

By: Web Desk, Uploaded: 19th June 2015

World Bank credits Pakistani leadership for “tremendous” economic growth WASHINGTON: Pakistan’s economy has made “tremendous progress” and the government seemed poised to achieve its goal of alleviating poverty from the country, Annette Dixon, the World Bank’s Vice President for South Asian region said here. Speaking after signing the Development Policy Credit worth $500 million single-tranche, she credited the progress to the vision of the...


THE RUPEE: firm trend

By: Farah Jamil, Uploaded: 19th June 2015

THE RUPEE: firm trend The rupee inched up versus the dollar on the money market on Thursday in process of trading, they said. The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 101.78 and Rs 101.80 respectively, dealers said. INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee gained five-paisa against the...


Raise in salaries

By: Web Desk, Uploaded: 18th June 2015

Raise in salaries The federal and the provincial budgets envisage a dramatic rise in salaries of government employees – to the tune of 7.5 percent in the federal budget though the Senate Standing Committee on Finance was informed by the Ministry of Finance officials that the net impact would be 10 percent given that the following allowances were...


Bullion Rates

By: Web Desk, Uploaded: 18th June 2015

Bullion Rates Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (June 17, 2015). ================================== In rupees per 10 gram    In Rupees ================================== KARACHI ———————————- Gold Tezabi 24 CT         39728.00 Silver Tezabi               548.57 ———————————- MULTAN ———————————- Gold Tezabi-24 CT         39000.00 Gold 22 CT                35660.00 Silver Tezabi               560.00 Silver Thobi                518.00 ==================================...


THE RUPEE: little changes

By: Farah Jamil, Uploaded: 18th June 2015

THE RUPEE: little changes Slight changes were seen on the money market on Wednesday as the rupee almost managed to hold the overnight levels in process trading, they said. The rupee shed two paisa versus the dollar for buying and selling at Rs 101.78 and Rs 101.80, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee sustained overnight...


Rs 488 billion KP budget announced: development under focus

By: Web Desk, Uploaded: 16th June 2015

Rs 488 billion KP budget announced: development under focus The provincial government of Khyber Pakhtunkhwa on Monday presented a balance budget of Rs 487.884 billion for financial year 2015-16, which is 21 percent higher than the outgoing fiscal year’s with no new tax but an ambitious annual development programme (ADP) of Rs 174.884 billion. The annual budget presented by Khyber Pakhtunkhwa Minister for Finance,...


Bullion Rates

By: Web Desk, Uploaded: 16th June 2015

Bullion Rates Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (June 15, 2015). ================================== In rupees per 10 gram    In Rupees ================================== KARACHI ———————————- Gold Tezabi 24 CT         39685.00 Silver Tezabi               548.57 ———————————- HYDERABAD ———————————- Gold 24 CT                39350.00 Gold 22 CT                36070.00 Silver                      544.30 ==================================...


THE RUPEE: mixed patterns

By: Web Desk, Uploaded: 16th June 2015

THE RUPEE: mixed patterns The rupee moved both ways against the dollar on the currency market on Monday in the process of trading, they said. The rupee failed to sustain its overnight levels in relation to the dollar, falling three-paisa for buying and selling at Rs 101.77 and Rs 101.78 respectively, dealers said. INTERBANK MARKET RATES: OPEN MARKET RATES:...


THE RUPEE: dollar at Rs 103 on open market

By: Farah Jamil, Uploaded: 13th June 2015

THE RUPEE: dollar at Rs 103 on open market The rupee crossed the barrier of Rs 103 versus the dollar on the open market on Friday due to strong demand for the US currency, dealers said. The higher rate of the dollar shows that difference between the open and interbank markets was widening, but it was difficult to predict that how far that trend...


THE RUPEE: mixed patterns

By: Web Desk, Uploaded: 12th June 2015

THE RUPEE: mixed patterns The rupee moved both ways against the dollar on the money market on Thursday in the process of trading, they said. The rupee posted fresh gain of eight-paisa against the dollar for buying and selling at Rs 101.80 and Rs 101.82 respectively, they said. INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed five-paisa...


Nestle challenges noodles ban in Indian court

By: Web Desk, Uploaded: 11th June 2015

Nestle challenges noodles ban in Indian court MUMBAI:  Nestle said on Thursday that it is challenging a ban imposed by India on its hugely popular Maggi instant noodles brand after tests showed they contained excessive levels of lead. Nestle said it had approached the high court in the western city of Mumbai seeking a judicial review of a June 5 order from...


THE RUPEE: range-bound trade

By: Web Desk, Uploaded: 11th June 2015

THE RUPEE: range-bound trade A range-bound trading was witnessed on the money market on Wednesday in the process of trading, they said. The rupee managed to gain two-paisa in terms of the dollar for buying and selling at Rs 101.88 and Rs 101.90 respectively, they said. INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee held the last levels against...


Bullion Rates

By: Farah Jamil, Uploaded: 10th June 2015

Bullion Rates Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (June 09, 2015). ================================== In rupees per 10 gram    In Rupees ================================== KARACHI ———————————- Gold Tezabi 24 CT         39814.00 Silver Tezabi               548.57 ———————————- HYDERABAD ———————————- Gold 24k                  39520.00 Gold 22k                  36226.00 Silver                      544.60 ==================================...


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