Sun, Sep 21, 2014, Zul.Qaadah 25,1435 A.H : Last updated 1 hour ago
 
 
Group Chairman: Mir Javed Rahman

Editor-in-Chief: Mir Shakil-ur-Rahman
 
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Javed Mirza
KARACHI: The central bank held its policy rate unchanged at 10 percent on Saturday, as expected, saying it believes the current level supports moves to spur an economic recovery.
“Policy vigilance requires balancing the tradeoffs between ...
 
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Erum Zaidi
KARACHI: The business community has rejected the central bank’s monetary policy stance of ‘no change’ in the discount rate, forecasting more problems for businesses due to the ongoing political crisis and floods in the country.
The State Bank of ...
 
 
Mansoor Ahmad
LAHORE: The five top banks enjoy market share of 55.07 percent in deposits; followed by 33.29 percent by next 10 mid-tier banks, 4.17 percent by seven small banks and 6.93 percent by the five Islamic banks.
According to the data compiled by ...
 
 
Shahnawaz Akhter
KARACHI: The Sindh government has exempted sales tax on the services rendered by exchange companies on buying and selling of foreign currency in order to strengthen the rupee.
The Sindh Revenue Board (SRB) in a notification issued on September ...
 
 
our correspondent
ISLAMABAD: Seven local companies working in the alternative energy sector are leaving for Denmark on Monday in a week-long visit to explore business opportunities in the country. The Danish Embassy in Pakistan took the initiative in a bit to ‘to ...
 
 

Copper steadied on Friday and ended the week flat, breaking a string of three straight weekly declines, as some investors bet a recovering US economy would boost metals demand.
Three-month copper on the London Metal Exchange (LME) closed down ...
 
 
Salman Siddiqui
KARACHI: The price of gold on Saturday declined to a 39-month low at Rs47,450 per tola (11.66 grams) in Pakistan in line with the downward trend in the global markets, said All Sindh Saraf and Jewellers Association President Haroon Rasheed ...
 
 
Munawar Hasan
LAHORE: Late monsoon rains and floods in River Chenab have dampened prospects of harvesting a record cotton output, according to preliminary official estimates.
As per initial assessment, cotton crop planted at about 300,000 acres has been ...
 
 

CAIRNS Australia: As the Group of 20 leading economies meet to change no less than the “destiny” of the global economy, members remain divided on how to get there with Germany pushing back at US calls for more government stimulus.
Opening the ...
 
 

LONDON: Natural gas liquids are the fastest-growing section of the US oil and gas business, with production and exports setting new records in the second quarter of 2014, according to government statistics.
The business attracts far less ...
 
 
our correspondent
KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) organised 13th Best Corporate and Sustainability Report (BCSR) Awards ceremony on Friday evening to give ...
 
 
our correspondent
LAHORE: Pakistan Steel Re-Rolling Mills Association’s (PSRMA) newly-elected Chairman Shahnawaz Ishtiaq called for downward revision of electricity and gas tariffs, besides addressing shortage of electricity and gas, which is badly hampering the ...
 
 

FRANKFURT: General Electric Co and Germany’s Siemens are considering bids for compressor and turbine maker Dresser-Rand that could derail a merger between Dresser-Rand and Swiss pump maker Sulzer, according to media reports.
The Financial Times ...
 
 

SINGAPORE/TOKYO: Lured by the promise of profit from smuggling the new iPhones into China, opportunists joined the thousands of Apple Inc fans lining up to buy the devices as they were launched on Friday across Asia.
Regulatory hurdles mean the ...
 
 

BRASILIA: Spain’s Telefonica SA has resolved the antitrust concerns it faced in Brazil by getting rid of its Telecom Italia stake in a deal finalized on Friday to acquire local broadband provider GVT, according to two government ...
 
 

NEW YORK: The asset with the greatest prowess of late has been the US dollar, and if its rally continues, it threatens to eat into the earnings of multinational companies.
The greenback’s recent gains have lifted the dollar index - a measure of ...
 
 

SEOUL: Hyundai Motor and two listed affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters. ...
 
 
Shahid Shah
The Karachi Stock Exchange benchmark 100-share index witnessed a volatility week as the index shed 29 points during the week on profit taking, while the market would evolve around the monetary policy decision in the week ahead, analysts ...
 
 
Phil Orlando
Alibaba was awesome. The Alibaba deal was done correctly, which is, you leave something on the table for investors to enjoy
—Chief equity market strategist at Federated ...
 
 

DETROIT: Electric carmaker Tesla Motors Inc on Friday announced it is rolling out a software upgrade over-the-air to its current Model S owners, a unique ability that other automakers are expected to offer within a few years.
Tesla, based in ...
 
 
our correspondent
The rupee observed a range-bound trading and shed 17 paisas against the dollar during the week ended September 19, as the demand and supply remained stable, while analysts expect current trend to prevail next week.
The rupee closed the week at ...
 
 

SHANGHAI: Subsidies accounted for four-fifths of the profits reported by Chinese steel companies in the first half of this year, a dramatic increase in reliance on state support that illustrates starkly the industrial weakness that is an increasing ...
 
 

Gold held above its lowest in 8-1/2 months on Friday but was headed for a third straight weekly drop on fears that a rate hike in the United States and a strengthening economy could dim the metal’s appeal.
Investors were also eyeing the results ...
 
 

Brent crude held below $98 a barrel on Friday, but was set for its first weekly gain in three on the possibility of lower OPEC output. OPEC’s secretary-general this week said the supply group may reduce production soon, while Libya has again cut ...
 
 

The Karachi Cotton Association (KCA) revised down its cotton spot rate by Rs50 per maund (37.324 kilograms) to Rs5,500 per maund after price of the commodity declined at the local open markets, a dealer said on Saturday.
“The increase in ...