Karachi Stock Exchange News 17 May 2012
Posted by huzafa on May 17, 2012 | Leave a Comment
Pak-India Business Conference
Posted by huzafa on May 08, 2012 | Leave a Comment
Sugar Export Guidelines issued by SBP
Posted by punal on Mar 06, 2012 | Leave a Comment
According to SBP here Monday, banks will forward the requests of sugar mills along with photocopy of E-Form, copy of contract, L/C,
advance payment, etc. for approval of SBP.
While forwarding such requests banks should also maintain the record of each sugar mill to ensure compliance of maximum prescribed quota of 5,000 tons per sugar mill.
It may be recalled that the government of Pakistan has allowed
export of 100,000...
Oil lower in Asia on economic growth fears
Posted by punal on Feb 29, 2012 | Leave a Comment
SINGAPORE: Oil was lower in Asian trade Tuesday on profit-taking amid concerns that rising prices could hamper global economic growth, analysts said.
New York’s main contract, light sweet crude for delivery in April, shed 61 cents to $107.95, while Brent North Sea crude for April delivery was down 42 cents to $123.75 in morning trade.
“Crude prices pulled back… as concerns that high oil prices might...
Rupee ends firmer at 90.95/79 to dollar
Posted by punal on Feb 23, 2012 | Leave a Comment
KARACHI: In the currency market, the rupee ended firmer at 90.75/79 to the dollar, compared with Tuesday’s close of 90.86/91 amid lack of import payments.
But dealers expect pressure on the local unit to continue due to rising international oil prices, which hit a nine-month high on Tuesday.
The rupee touched a record low of 91.28 to the dollar in January, pressured by worries about higher payments for oil imports...
Iraqi businessmen shy away from Iranian currency
Posted by punal on Feb 08, 2012 | Leave a Comment
BAGHDAD: Huge numbers of Iranian pilgrims visit Shia holy places in Iraq each year, but businesses have grown wary of transactions in the Islamic republic’s rial as it declines in value under sanctions.
In Kadhimiyah in northern Baghdad, restaurants and shops that sell gold and clothes around the two shrines of Shia imams, Musa Kadhim and Mohammed Jawad, are crowded with visitors.
Ali Mohammed, a 42-year-old who owns...
Pakistan gets trade waiver for European Union markets
Posted by punal on Feb 02, 2012 | Leave a Comment
Pakistan’s efforts to revive its export sector have received a big boost after some of its goods were given duty free access to the European Union (EU).
The World Trade Organization (WTO) has approved the EU’s move to waive duties on 75 Pakistani products, including textiles, for two years.
The waiver was granted on humanitarian grounds after Pakistan’s manufacturing was hurt by floods in the country.
The...
IMF expect debt deals soon
Posted by punal on Feb 02, 2012 | Leave a Comment
Greece and the IMF said Wednesday that negotiations for landmark debt deals will be concluded in a “matter of days,” raising hopes that the country will dodge a disastrous default in the spring.
Greece is locked in two sets of talks one with private creditors to have them take losses on their bondholdings and the other with its international bailout rescuers to receive new loans.
“We are...
Petroleum products prices raised around 6pc U
Posted by punal on Feb 01, 2012 | Leave a Comment
ISLAMABAD: The prices of petroleum products on Tuesday were increased in the range of Rs 2.78 to 6.29 per litre.
According to a notification issued here, the government while ignoring the recommendations of the Oil and Gas Regulatory Authority has increased HOBC price by Rs 6.29 per litre, Premium by Rs 5.37 per litre, High Speed Diesel by Rs 4.64 per litre, Light Speed Diesel by Rs 3.43 per litre and kerosene oil by...
Agreement for $40m Kuwaiti loan signed
Posted by punal on Feb 01, 2012 | Leave a Comment
ISLAMABAD: The Economic Affairs Division (EAD) and Neelum Jhelum Hydropower Project Company (NJHPC) on Monday signed Subsidiary Loan Agreement worth $40 million, as it was a legal requirement for making loan agreement between Kuwait and Pakistan effective that was agreed on November 25, 2010.
Abdul Wajid Rana, Secretary EAD represented the Government of Pakistan while Lt. Gen. (R) Muhammad Zubair, CEO represented NJHP...
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