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Thursday 28, August 2014

 
 
 




 

Economy


Oil prices up in Asia

By: Web Desk, Uploaded: 26th August 2014

Oil prices up in Asia SINGAPORE: Oil prices rose in Asia Tuesday as dealers await the release of a batch of US economic data for clues on whether the Federal Reserve will speed up its timetable for raising interest rates, analysts said. US benchmark West Texas Intermediate for October delivery rose 20 cents to $93.55 while Brent crude for October...


Asia shares mixed, Nikkei hit by strong yen

By: Web Desk, Uploaded: 26th August 2014

Asia shares mixed, Nikkei hit by strong yen HONG KONG: Asian markets were mixed Tuesday with a record close on Wall Street offset by profit-taking, while Japan´s Nikkei succumbed to a stronger yen. Tokyo slipped 0.40 percent by the break, Shanghai was 0.26 percent lower and Hong Kong lost 0.11 percent after hitting a six-year high Monday. Seoul added 0.20 percent and Sydney...


Protests paralyzed economy, direct losses reached up to Rs 800 billion:Khurram

By: Web Desk, Uploaded: 25th August 2014

Protests paralyzed economy, direct losses reached up to Rs 800 billion:Khurram ISLAMABAD: Minister for Commerce, Engr., Khurram Dastgir Khan on Monday said the current protests have paralyzed country’s economy and the direct losses to it have reached up to Rs 800 billion. In a statement issued here, the Commerce Minister said the indirect losses to the economy, according to estimates have also amounted to several hundred...


Asia shares mixed after Yellen speech

By: Web Desk, Uploaded: 25th August 2014

Asia shares mixed after Yellen speech HONG KONG: Asian markets were mixed Monday following a broadly negative lead from Wall Street after the head of the US central bank said she was still concerned about employment in the country. While Janet Yellen´s speech Friday said slackness in the jobs market would likely staunch inflation, investors noted her acknowledgement of calls for...


Protests cause Rs 450 bln loss to country: minister

By: Web Desk, Uploaded: 24th August 2014

Protests cause Rs 450 bln loss to country: minister MULTAN: Provincial Minister for Prisons Ch Abdul Waheed Arain said that PTI and PAT protest demonstrations had caused Rs 450 billion loss to the economy. Addressing a public meeting, the minister said the country was making rapid progress under the vibrant leadership of Prime Minister Muhammad Nawaz Sharif and Punjab Chief Minister Muhammad Shahbaz Sharif....


Long Marches causing daily loss of Rs 150 billion to economy

By: Web Desk, Uploaded: 24th August 2014

Long Marches causing daily loss of Rs 150 billion to economy LAHORE: The Long Marches have been causing a financial loss of Rs 150 billion daily to national economy besides rendering a large number of daily-wagers jobless across the country. Chief Executive, Trade Development Authority Pakistan (TDAP) S.M.Munir said on Sunday that Azadi March of Tehrik-i-Insaf and Inqlab March of Pakistan Awami Tehrik were adversely affecting...


Rates for conversion of FCD, DBC, FCBC, US dollar bonds

By: Web Desk, Uploaded: 22nd August 2014

Rates for conversion of FCD, DBC, FCBC, US dollar bonds KARACHI:  The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S. Dollar Bonds and profits thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E- 25 deposits) by the State Bank on August 25, 2014. The rates...


Dollar holds up ahead of Yellen speech

By: Web Desk, Uploaded: 22nd August 2014

Dollar holds up ahead of Yellen speech TOKYO: The dollar maintained its strength in Asia Friday as investors awaited a speech by the US Federal Reserve chief for any hint at when the bank will start raising interest rates. The US unit was changing hands at 103.90 yen in Tokyo late morning trade, compared with 103.85 yen in New York Thursday afternoon....


FPCCI, SAARC CCI reject politics of civil disobedience, long marches

By: Web Desk, Uploaded: 20th August 2014

FPCCI, SAARC CCI reject politics of civil disobedience, long marches ISLAMABAD:Federation of Pakistan Chamber of Commerce and Industry and SAARC Chamber of Commerce and Industry, Pak chapter Wednesday outrightly rejecting PTI’s call of civil disobedience and long marches reposed full confidence in the leadership of Prime Minister Muhammad Nawaz Sharif. Talking to APP on Wednesday, FPCCI President Zakaria Usman and VP SAARC CCI Iftikhar Ali...


Oil prices mixed in Asia

By: Web Desk, Uploaded: 20th August 2014

Oil prices mixed in Asia SINGAPORE:Oil prices were mixed in Asia Wednesday as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data. US benchmark West Texas Intermediate (WTI) for September delivery rose 34 cents to $94.82 on its last day of trading. It tumbled $1.93 in New...


SCCI offers building Sialkot-Lahore expressway

By: Web Desk, Uploaded: 19th August 2014

SCCI offers building Sialkot-Lahore expressway SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI)on Tuesday offered the Punjab government for construction of Sialkot-Lahore expressway, a long-awaited demand to connect Sialkot to other big cities. The offer was made by Dr Sarfraz Bashier, President SCCI, while talking to APP on Tuesday. “If the Punjab government allows us to collect toll tax, we...


5% rebate on property tax till Sept 30

By: Web Desk, Uploaded: 19th August 2014

5% rebate on property tax till Sept 30 MULTAN: Director Excise and Taxation (E&T), Multan, Ahmad Saeed said on Tuesday the department was focusing property tax collection in August and September and advised people to avail five per cent rebate on payment of property tax till Sept 30. Talking to APP, he said that E&T Multan had registered 14 per cent increase in...


Trade deficit shrinks 16.58% in 1st month of current Fiscal year

By: Web Desk, Uploaded: 19th August 2014

Trade deficit shrinks 16.58% in 1st month of current Fiscal year ISLAMABAD:Country’s trade deficit narrowed by 16.58 percent during the first month of the ongoing fiscal year (2014-15) compared to the same month of last year, mainly owing to decline in imports into the country. According to the latest trade figures released by Pakistan Bureau of Statistics (PBS), the imports into the country decreased by 11.80...


Dollar firm in Asia as Ukraine tensions ease

By: Web Desk, Uploaded: 19th August 2014

Dollar firm in Asia as Ukraine tensions ease TOKYO: The dollar held steady in Asia on Tuesday as concerns over a Ukrainian clash with Russia eased, while investors looked to a speech by the US Federal Reserve chief this week. In afternoon Tokyo trade, the greenback rose to 102.62 yen, from 102.57 yen in New York and 102.32 yen in Tokyo earlier Monday....


Dollar firm in Asia as Ukraine tensions ease

By: Web Desk, Uploaded: 19th August 2014

Dollar firm in Asia as Ukraine tensions ease TOKYO- The dollar held steady in Asia on Tuesday as concerns over a Ukrainian clash with Russia eased, while investors looked to a speech by the US Federal Reserve chief this week. In midday Tokyo trade, the greenback rose to 102.62 yen, up from 102.57 yen in New York and 102.32 yen in Tokyo earlier...


Oil slumps to 14-month low in poor start to week

By: Web Desk, Uploaded: 19th August 2014

Oil slumps to 14-month low in poor start to week LONDON:Oil prices dived to a 14-month low on Monday, spurred by worries over soft global crude demand, abundant supplies and easing concerns about conflicts in Ukraine and Iraq, dealers said. Brent North Sea crude for October sank as low as $101.16 per barrel, reaching a level last seen on June 26, 2013. It later stood...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 18th August 2014

Oil prices down in Asian trade SINGAPORE:Oil prices eased in Asian trade Monday, but retained support from the latest round of tensions between Ukraine and Russia which sparked concerns of a full-scale military conflict, analysts said. US benchmark West Texas Intermediate for September delivery was down 46 cents at $96.89 while Brent crude for October fell 65 cents to $102.88 in...


FPCCI President calls for revival of American GSP status for Pakistan

By: Web Desk, Uploaded: 15th August 2014

FPCCI President calls for revival of American GSP status for Pakistan KARACHI: President FPCCI, Zakaria Usman Friday called for the revival of American GSP status to Pakistan; realizing that Pakistan has been playing a front-line role in the war against terrorism and facing serious social and economic problems. ” GSP status has been expired for a long time and we are still waiting for its revival,”...


PML-N govt to complete projects of development: Minister

By: Web Desk, Uploaded: 15th August 2014

PML-N govt to complete projects of development: Minister LAHORE: The Pakistan Muslim League-Nawaz(PML-N) government is capable to eliminate unemployment  and complete projects of economic development and prosperity in the country, said Punjab Minister for Excise & Taxation and Finance Mujtaba Shujaur Rehman on Friday. Talking to PML-N workers here, he said some elements were resorting to negative politics for undermining the democratic system...


SBP-Reserves Foreign reserves stand at US$ 14,264.1 million

By: Web Desk, Uploaded: 15th August 2014

SBP-Reserves Foreign reserves stand at US$ 14,264.1 million KARACHI: The total liquid foreign reserves held by the country stood at US $ 14,264.1 million on August 8, 2014, a statement of State Bnak of Pakistan issued here on Friday. Giving a break-up of the foreign reserves position it said that Foreign reserves held by the SBP stood at US $ 9,188 million while...


Cotton growers advised to counter threats

By: Web Desk, Uploaded: 15th August 2014

Cotton growers advised to counter threats MULTAN: Agriculture scientist Dr. Sagheer Ahmad Friday said the cotton crop, undergoing flower stage these days, was facing a threat of attacks by sucking pests and advised farmers to take timely measures to get enhanced production of the silver fibre. The agriculture scientist from Cotton Research Station (CRS)Multan said that farmers should take remedial measures...


SBP playing key role in country’s economy: Saeed Ahmad

By: Web Desk, Uploaded: 14th August 2014

SBP playing key role in country’s economy: Saeed Ahmad KARACHI: The Acting Governor, State Bank of Pakistan (SBP) Saeed Ahmad has said that the central bank will keep on playing its role in growth of the country’s economy. Addressing the flag hoisting ceremony on Independence day here on Thursday, he said “it is important for us to follow teachings of our leaders and keep...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 14th August 2014

Oil prices down in Asian trade SINGAPORE:Oil prices fell in Asia Thursday following a surprise increase in US commercial crude-oil stockpiles and a slew of soft economic data from leading energy consumers. US benchmark West Texas Intermediate for September delivery eased 28 cents to $97.31 while Brent crude for September shed 50 cents to $103.78 in mid-morning trade. A build in...


Asian shares tick higher despite soft data

By: Web Desk, Uploaded: 14th August 2014

Asian shares tick higher despite soft data HONG KONG :Asian markets were mostly higher Thursday, tracking positive cues from Wall Street as traders shrugged off a slew of soft data including a weaker-than-expected report on retail sales in the world’s largest economy. Tokyo and Sydney rose 0.60 percent, while Hong Kong and Shanghai traded flat. Seoul added 0.19 percent after South Korea’s central...


Dollar firms in Asia amid thin trade

By: Web Desk, Uploaded: 13th August 2014

Dollar firms in Asia amid thin trade TOKYO:The dollar firmed against major currencies in Asian trade on Wednesday, with its movements limited as many traders were off for the summer holiday season. The dollar fetched 102.29 yen in midday Tokyo trade, compared with 102.24 yen in New York. The euro bought $1.3365 and 136.72 yen against $1.3368 and 136.67 yen.Investors were primarily focused...


Dollar firms in Asia amid thin trade

By: Web Desk, Uploaded: 13th August 2014

Dollar firms in Asia amid thin trade TOKYO- The dollar firmed against major currencies in Asian trade on Wednesday, with its movements limited as many traders were off for the summer holiday season. The dollar fetched 102.29 yen in midday Tokyo trade, compared with 102.24 yen in New York. The euro bought $1.3365 and 136.72 yen against $1.3368 and 136.67 yen. Investors...


 
 
 



 
 



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