Business News
Oil down in Asia on profit taking
Oil prices headed down in Asian trade Friday as traders took profits from a heady overnight rally sparked by a slew of positive economic data from the US, Europe and China, analysts said.New York's main contract, light sweet crude for delivery in December, retreated…
PSM's BoD meeting today
Board of Directors (BoD), Pakistan Steel Mills, in their meeting on Saturday would demand government to help getting loan of Rs20 billion from banks or provide Rs50 billion for shutting down the corporation, Geo News reported.The meeting of Board of Directors would be held…
Ginners start buying cotton
Member Pakistan Cotton Ginners Association and renowned ginner, Rana Saleem said that ginning units in Khanewal are purchasing cotton after getting assurance about withdrawal of withholding tax.Talking to APP, he said the Prime Minister's special assistant, Sardar Ahmed Yar Haraj had assured ginners that…
Asian shares higher on dip buying
Asian stocks rose on Tuesday morning thanks to bargain hunting and a positive lead from Wall Street, while Japanese stocks were supported by a stable yen-dollar.Expectations of the imminent defeat of Moamer Kadhafi by rebels in oil-rich Libya also sent crude prices lower.However,…
Gold touches historic highs reaches Rs 57,000/tola
: The gold prices jumped another record historic high of 48,875 by Rs 1843 per 10 grams in the local market on Monday compared to previous day's 47,014 per grams."The rise in prices of local bullion market is due to international market's volatile situation,"…
LPG price increased by Rs 9 per kg
The price of LPG has been increased by Rs 9 per kg. According to the new rate, the price of domestic household cylinder has been changed to Rs. 1348 whereas the price of imported household cylinder has been changed to Rs. 1487, Geo News reported.…
Gold hits record on global growth worries, Europe debt
SINGAPORE: Gold hit a record high on Wednesday, as investors made a beeline for bullion to shelter from the impact of a deteriorating global economic outlook and Europe's worsening debt crisis.Spot gold rose to an all-time high of $1,671.39 an ounce, hitting its ninth…
Sensex rises in early trade
A benchmark index for Indian equities markets Tuesday rose in early trade after being battered at the start of the week.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 17,574.37 points, was ruling at 17,576.71 points, up 70.08 points…
Panic selling at Indian equities markets
Indian equities markets Monday started the trading week on a very negative note as reports of India resuming talks on a tax treaty with Mauritius triggered a panic selling.Over the weekend, a senior Central Board of Direct Taxes (CBDT) official was quoted as having…
India seals biggest military deal with US for 10 C-17 airlifters
India has sealed its biggest $4.1 billion deal with the US for 10 Boeing C-17 heavy-lift aircraft by signing a formal agreement that envisages delivery of the planes before 2015, government and company officials said Wednesday.“The ministry of defence has signed a letter of…
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