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| November 01, 2008 | Saturday | Ziqa'ad 2, 1429 |
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Fund of Rs20bn to precede removal of ‘floor’
KARACHI, Oct 31: The right to a decision about the removal on the ‘floor’ at the Karachi Stock Exchange rests with the Board of Directors, Advisor to the Prime Minister on... 
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Oil prices tumble
LONDON, Oct 31: Oil prices fell heavily again on Friday as the prospect of a global recession and weakening energy demand weighed on the market, analysts said....
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Ginning units exempted from power loadshedding
ISLAMABAD, Oct 31: Water and Power Minister Raja Pervez Ashraf has exempted all cotton ginning factories countrywide from loadshedding and directed the Pakistan Electric Power Company (Pepco) to provide them uninterrupted power supply round-the-clock.The...
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SBP moves to bring NBFCs under its fold
KARACHI, Oct 31: The State Bank of Pakistan has proposed amendments to Banking Companies’ Ordinance (BCO) 1962 for bringing all deposit-taking Non-Bank Financial Companies (NBFCs) like investment banks, leasing companies and housing finance companies under its control....
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India raises limit on insurance investment
NEW DELHI, Oct 31: India’s cabinet has cleared legislation to nearly double foreign investment limits in insurance firms to up to 49 per cent — one of the government’s key economic reform priorities, a minister said....
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US consumer spending plunges
WASHINGTON, Oct 31: US consumers slashed spending by a sharp 0.3 per cent in September in the face of an intense financial market storm that is tipping the economy into recession, government data showed on Friday....
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Malaysia cuts fuel price by 6.5pc
KUALA LUMPUR, Oct 31: Malaysia cut petrol prices by 6.5 per cent on Friday, bringing pump prices down to 2.15 ringgit (0.60 dollars) per litre amid easing global crude oil prices....
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Japan ready with money for IMF bailout
TOKYO, Oct 31: Japan is ready to provide some of its ample cash for any International Monetary Fund bailouts for struggling nations to help stabilise the growing global financial crisis, the finance minister said on Friday....
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Emerging economies to be next victims: IMF
VIENNA, Oct 31: Emerging economies will be the next to topple in the global financial crisis, the head of the International Monetary Fund Dominique Strauss-Kahn wrote in article published here on Friday....
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Dollar sharply higher vs euro
NEW YORK, Oct 31: The US dollar and yen posted sharp gains on Friday as investors turned more cautious after bleak US economic reports heightened global recession fears....
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German metalworks
BERLIN, Oct 31: With a recession looming in Europe’s biggest economy, Germany’s largest industrial trade union IG Metall on Friday announced warning strikes this weekend in the key metalworking and electronics sector....
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Stock market lacks trading interest
KARACHI, Oct 31: The stock market finished the week on a listless note as investors failed to find any positive cue from the visit of Shaukat Tareen to the KSE and...
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ECB officials cautious on rate cut impact
ROME, Oct 31: ECB executive board member Lorenzo Bini Smaghi warned on Friday against setting interest rates too low and the Bank of Italy chief said there was limited scope for using monetary policy to boost the economy....
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Cotton maintains bullish trend
KARACHI, Oct 31: Cotton prices on Friday maintained their upward drive as spinners and mills continued to build-up long positions at each rise amid briskly traded session....
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Barclays looks to ME for $11.7bn cash boost
LONDON, Oct 31: British bank Barclays said on Friday it would raise $11.7 billion (9.3 billion euros), most of it from oil-rich investors in Abu Dhabi and Qatar, to bolster finances amid the global credit crunch....
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Karachi Port operations
KARACHI, Oct 31: Four ships including a rice loader are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, Oct 31: Three container ships were accommodated berths during the last 24 hours, said a PQA press release on Friday....
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Eurozone inflation pulls back to nine-month low
BRUSSELS, Oct 31:Inflation in the 15 nations using the euro pulled back in October to a nine-month low point of 3.2 per cent as oil prices slumped, an estimate from the Eurostat data agency showed on Friday....
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Spain flirts with recession, data shows
MADRID, Oct 31: Spain’s economy shrank 0.2 per cent in the third quarter, the central bank said on Friday, confirming forecasts it is flirting with recession as the country is pummelled by a property slump and the global financial crisis....
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Turkey trade deficit
ISTANBUL, Oct 31: Turkey’s September trade deficit narrowed seven per cent from a year earlier to $5.042 billion, the national statistics office said on Friday.September exports rose 42 per cent year-on-year to $12.831...
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Gold sinks on strong dollar
LONDON, Oct 31: Gold prices sank about 2 per cent on Friday and headed for its biggest monthly drop in more than 30 years, as a strong dollar and recession fears triggered a sell-off, traders and analysts said....
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World stock markets mostly lower
LONDON, Oct 31: World stock markets mostly fell on Friday at the end of a mad month of trading, wild volatility and huge losses as investors cowered before a looming global recession driven by the financial crisis....
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Palm oil prices down
JAKARTA, Oct 31: Malaysian palm futures closed down nearly 3 per cent on Friday after crude oil fell on weak US third-quarter economic data that renewed demand worries, traders said....
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Karachi market rates
KARACHI, Oct 31: The following were Friday commodity market rates in rupees....
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