KARACHI: The State Bank of Pakistan sold Treasury bills worth Rs8 billion ($95.52 million) on Tuesday in 2-day repo contracts at 11.5 per cent to mop up funds from the money market.
103,375 tons of urea arrive
KARACHI: First three vessels carrying 103,375 tons of urea for the Trading Corporation of Pakistan (TCP) are offloading it at the Gwadar Port. A TCP official said that one of the ships, MV Pacific Freedom, has discharged 25,903 tons of urea while MV Reema and MV Ikan Sagai are still offloading it. The TCP had awarded contracts for the import of 600,000 tons of urea through nine tenders last month.
Gold higher
KARACHI: Gold price went up by Rs43 to Rs28,800 per 10 grams in the local bullion market on Tuesday as its international price also surged to $1,058 an ounce, market sources said. A gold dealer said that per tola (11.66 grams) price climbed to Rs33,600. Silver remained unchanged at Rs428.57 per 10 grams.
Protest against sugar shortage in Sialkot
SIALKOT: Hundreds of people including women and children staged a peaceful rally here on Kutchery Chowk on Tuesday against the shortage and non-availability of sugar in the Sialkot district.They also staged a sit-in before the offices of Sialkot DCO and Sialkot DPO. They chanted anti government slogans and cursed the government of allegedly creating the sugar crisis. Protesters were carrying banners and placards. They urged the government to ensure early availability of sugar in the Sialkot region.
US to help improve productivity of businesses
By our correspondent
LAHORE: Economic Development Assistance Coordinator Robin Raphel at the US Embassy, Islamabad, has said that the US administration is working towards a more focused technology-based value addition for local businesses to improve productivity.He was talking with the Vice-Chairman of Punjab Board of Investment and Trade (PBIT) Pir Saad Ahsanuddin, whom he met to discuss the development of investment and trade in Punjab. Raphel, who is also former US assistant secretary of state for South Asia, discussed the importance of Pakistani businesses gaining more market access for textiles and agriculture goods to support a large worker population of Punjab as well as developing US business partnerships in power projects to fill crucial production gaps.
Dadabhoy Cement posts loss
KARACHI: Dadabhoy Cement Industries Ltd has reported a loss after tax of Rs6.745 million during the quarter ended September 30. According to financial results sent to the Karachi Stock Exchange on Tuesday, loss per share declined to Rs0.01 during the period under review against Rs0.02.
Mustehkam Cement reports loss
KARACHI: Mustehkam Cement Ltd has reported a loss after tax of Rs91.517 million for the quarter ended September 30. According to financial results of the company sent to the Karachi Stock Exchange on Tuesday, pre-tax loss was estimated at Rs137.865 million.
Bestway Cement posts profit
By our correspondent
KARACHI: Bestway Cement on Tuesday announced profit after tax of Rs52.5 million in the first quarter (Jul-Sept) of fiscal year 2009 with earning per share (EPS) of Rs0.16. However, the company posted a profit of Rs319m in the same period of last year with EPS of Rs0.98.
PQ activity
KARACHI: The Port Qasim handled 67,380 tons of cargo, comprising 28,540 tons of import and 28,840 tons of export cargo during last 24 hours ended 0800 hours on Tuesday. Berth occupancy was recorded at 64 per cent. Seven ships were loading/offloading containers, cement, sugar, palm oil and diesel oil during the reported period. Two ships sailed out to sea during last 24 hours. Three ships carrying containers, chemicals and palm oil were expected to take berth at the Container Terminal and Engro Terminal and Liquid Terminal on Tuesday, while three ships are due on Wednesday.