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Rupee rises against dollar
Karachi The rupee increased against the dollar in the currency market on Friday, dealers said. In the interbank market, the rupee rose to 98.42 against the dollar from the previous closing of 98.53. The local currency lost 11 paisas against the greenback, they said. The forex market witnessed a range-bound trading session on the lack of buying interest from traders. However, it is likely to come ...
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Cotton spot rate cut to Rs6300
Karachi The Karachi Cotton Exchange (KCE) decreased its cotton spot (average) rate by Rs100 per maund (37.324 kilograms) to Rs6,300 per maund on Friday after the local markets continued to observe downward trend, a dealer said. This was the second consecutive day on which the exchange revised downward its spot rate. On Thursday, it has already decreased the commodity price by Rs50 per maund. A ...
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Protests marring business activities
SUKKUR: In the aftermath of elections 2013, protests, shutter-downs, and strikes are hampering the business activities in Sukkur, Khairpur, Shikarpur, Ghotki, Jacobabad, Larkana, and other cities of the upper Sindh, said local businessmen. The protests by the political parties against the rigging in elections often turn violent and protestors go on the rampage, destroying shops and everything in ...
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LCCI criticises caretaker govt for power tariff hike
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Friday criticised the caretaker government for making a huge increase of Rs5.82 per unit price of electricity and termed it an anti-business decision aimed at sabotaging the popularity of the PML-N government. In a statement, Farooq Iftikhar, president of the LCCI, said that at a time when the business community was already paying ...
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AEDB forwards eight green energy projects to World Bank
KARACHI: The Alternate Energy and Development Board (AEDB) has forwarded the concept notes of eight green energy projects to the World Bank to avail of financing under the Clean Technology Fund (CTF). Arif Alauddin, former chief executive officer of AEDB, said that the board has forwarded eight projects to the Ministry of Environment, which should have been forwarded to the World Bank for ...
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PIAF reposes confidence on new govt
LAHORE: The Pakistan Industrial and Traders Associations Front (PIAF) has expressed the optimism that the new government will be able to overcome the energy crisis through the implementation of transparent policy framework. In a statement issued on Friday, the PIAF chairman Malik Tahir Javed said that corruption in different tiers of the society was one of the reasons of energy crisis and if ...
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KCCI demands restoration of six-day working week
KARACHI: Haroon Agar, president of the Karachi Chamber of Commerce and Industry (KCCI), has demanded the government to restore six-day working week in banks, customs and ports for larger interest of commerce and industry. In a statement issued on Friday, he expressed concern over two weekly holidays for all government departments and its affiliated institutions in the name of energy ...
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Mango exports reflect soft countrys image
ISLAMABAD: "Mango exports reflect Pakistan's soft image across the world that can help us overcome unnecessary criticism," Ahmad Jawad, CEO of Harvest Trading, said in a statement released on Friday. He said that the Ministry of commerce and Pakistan Horticulture Development and Export Company should lay down a comprehensive plan and overcome obstacles. He suggested that from the ...
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ITC posts first profit in non-tobacco FMCG business
non-tobacco FMCG business of the diversified conglomerate posted first profit since its inception 10 years back - registering a profit of Rs 11.87 crore in Q4 from a loss of Rs 16.68 crore in the year-ago period. This, along with tobacco and agri business, fuelled the company's profit after tax to Rs 1,927 crore from Rs 1,614 crore in the quarter ended March 31, 2012. The net profit for ...
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Toyota FT86 On Display At The Mall
Bandar Seri Begawan - Toyota sports car FT86 is currently on display at The Mall, Gadong for this weekend. Organised by NBT Sdn Bhd, the main distributor of Toyota in the country, there are sales personnel to information regarding FT86. The Toyota 86, a new breed of sports car from Toyota, reflects the name ofAE86, a model well-known and loved by customers globally. The raw power of the ...
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Shangri-La opens at the Bosphorus.
Istanbul welcomes its newest luxury hotel this week with the opening of the Shangri-La Bosphorus, Istanbul on 11 May; the opulent 186-room hotel is the second in Europe for Shangri-La Hotels and Resorts, which hails from the other city where East famously meets West, Hong ...
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Bill Gates reclaims ‘world’s richest’ title from Slim
Slim’s America Movil, the largest mobile-phone operator in the Americas, has dropped 14% this year after Mexico’s Congress passed a bill that could quash the billionaire’s market ...
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Japan FTA widening trade deficit government says
IPL is not a quiet & sober brand. It is loud and sensational. Controversies like these only add to the excitement, IPL will get louder with more gossip, says Koshy, IIM ...
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Skoda to phase out Fabia exit small car segment
Skoda is all set to phase out the struggling compact car Fabia after five years of launch as it looks to cut loss arising out of poor sales and intense competition. Skoda's only model in the hatchback category never managed to catch the fancy of buyers despite the company slashing Fabia's price in October 2010. Skoda reduced price of the Fabia's diesel variant by over Rs 1 lakh ...
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Companies cant exit road projects Finance ministry
finance ministry has shot down two crucial proposals from the highway ministry, allowing exit of developers from completed projects and replacing developers with new ones where projects have not taken off months after they were awarded. ...
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Government attacks SPs rating outlook
NEW DELHI: The government on Friday shot back at Standard & Poor's reiteration of a possible downgrade of India's sovereign rating, going to the extent of questioning the agency's ...
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Sanyo may cease to exist under Panasonic reorganization Nikkei
(Reuters) - Sanyo Electric Co may cease to exist under a reorganization by Panasonic Corp that includes global jobs cuts, Nikkei reported on Friday.Panasonic will cut 90 percent of Sanyo's global workforce of about 2,500 in around three years, the daily reported.About 1,000 workers at Sanyo's headquarters will be reduced to around 100 this fiscal year, leaving just a skeleton crew for ...
Taiwan Focus
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Taiwan investing in biotech sector
Taiwan’s economy has seen massive growth in the last few decades, but one industry has been in decline and a development project by the Academia Sinica is expected to reverse that decline, once environmental issues have been cleared up.
Taiwan is one of the Four Asian Tigers; this little island off the coast of mainland China has experienced rapid development in just a few decades and has become a major hub of manufacturing, high-tech industry, shipping and tourism. Read more
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