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Thursday, Jul 2 2009
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Bing indexes Twitter posts to make service 'real-time'     Fencer Wang take China's first gold at Universiade 2009     Brazil's Ze Roberto joins Hamburg     US Vice President Biden arrives in Iraq on surprise visit     Office workers asked to go naked     Earnings to set tone for stocks in week ahead     BoA to pay $713mn in TARP dividend     Taliban Buying Children For Suicide Bombings     Donovan launches book blast at Beckham     Valdano: Real have given up on signing Villa     Hamburg sign former Brazil midfielder Ze Roberto     England make hay in warm-up     India, West Indies fight for pole position     OAS seeks Zelaya reinstatement     N Korea fires series of missiles     Japan's Amano 'very pleased' at IAEA election     Algeria to host mega pan-African festival     Pakistan beat English in 2nd hockey test match     Copies of intermediate exams sold as scrap in Quetta     Five accused of Islamabad hotel bombing nabbed     Pak delegation off to Istanbul to meet IMF, WB     California turns to "IOUs" amid budget impasse     Doomed Air France plane hit sea intact: investigators     Warren Buffett donates $1.5 billion Berkshire shares     J&J buys $1 billion Elan stake, gains Alzheimer's R&D     US marshals seize Madoffs' $7 million NY apartment     US home prices seen down over 40 per cent: Barclays     FDIC proposes tough private equity guidelines     US job losses spike in June, dampen recovery hopes     Bleak payrolls report mauls Wall St; volume thin     Fate of GM in hands of bankruptcy judge     Tarin says will negotiate with IMF over power tariff     Petrol prices hike challenged in Supreme Court     Several militants killed in air attacks in S Waziristan     Funeral prayers of policeman killed in Peshawar attack     Mehsud buying children for suicide bombers: report     Inter Milan hand Materazzi three-year deal     Forward Benzema joins Real Madrid from Lyon     Honduras' Zelaya vows to return     Mousavi denounces Iran poll results     Govt scraps Royal Mail sell-off plans     Taiwan president rejects Chen plea on daughter's travel ban     Fiji military chief promises new constitution by 2013     No leaks in Endeavour's fuel tank: NASA     SAfrica may re-open specialised crime units: police minister     Auto supplier Lear to file for bankruptcy, obtains financing     US June auto sales tumble, Ford takes share     Fannie, Freddie ease terms for mortgage refinance     Madoff customers get $231 million so far: trustee     Wall St gains on recovery hopes, but job data looms     Jobs data signals hurdles amid factory glimmer     Oil falls on US gasoline inventory build     US Marines launch assault in southern Afghan valley     Hopes for nuclear breakthrough on Obama Moscow trip     California government declares fiscal emergency over budget     Jackson will sets family trust, funeral undecided     FIR against 250 lodged over sparking panic in Hyderabad     PM Gilani says not nationalizing KESC     Report not compiled on power crisis in Karachi     Five persons being deported over fake traveling documents     80% public terms Taliban threat to country: survey     State Bank receives $0.5bn from ADB
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Market KSE 100
Index
All Share
Index
KSE 30
Index
Status Open Current 7159.32 Current 5124.31 Current 7619.70
Volume 171,719,493.00 High 7161.10 High 5125.45 High 7624.70
Value 2,393,600 Low 7128.83 Low 5103.50 Low 7573.54
Previous Index 7128.83 Change 30.49 Change  20.81 Change 46.16
MAIN STORY
Power tariff to be discussed with IMF
SCCI demands tax holiday for NWFP businesses
Directs FBR to set up facilitation cells in NWFP
ISLAMABAD: Advisor to Prime Minister on Finance and Economic Affairs, Shaukat Tareen said Thursday that Pakistan will negotiate with IMF, World Bank and other organisations about increased power tariff. Tareen told a private television news channel that the country is facing a shortfall of 3000-4000MW and government is fully alive to the situation and miseries of people created by load-shedding. ...
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More troops man Afghan border
US starts fresh onset against Afghan Taliban
US military buildup in Afghanistan worries Islamabad
ISLAMABAD: Pakistan Army deployed more troops Thursday to a stretch of the Afghan border to stop Taliban militants fleeing a major US onslaught in southern Afghanistan. ...

3rd round of Pak-IMF talks starts tomorrow
ISLAMABAD: Third round of talks between Pakistan and International Monetary Fund (IMF) will begin from Saturday (tomorrow) in Dubai and issues of extension in period for withdrawal of subsidy on electricity and matters related to loans will be highlighted in the discussion. ...

Government to pay Rs6.25bn subsidy on urea import
Shabbir Kazmi
KARACHI: Last year around this time farmers were facing a double threat of rising urea prices in the international markets and government's failure in containing the black  marketing and smuggling of the commodity. Despite the government paid subsidy worth billions of rupees, farmers had to bear the brunt. ...

Suicide attack in Rawalpindi kills 6
RAWALPINDI: At least six people were killed when a motorcyclist rammed his bike into the bus of a government department in Rawalpindi here Thursday. Nasir Khan Durrani, Regional Police Officer, told reporters that 15 other people were also injured in the attack at the Chur Chowk area of the city. ...

President likely to reshuffle Cabinet
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Thursday formally presented the performance report of Federal Ministers and State Ministers respectively to President Asif Ali Zardari.
Sources told this news agency that President Zardari discussed with Prime Minister Gilani host of issues regarding overall political situation, war against terrorism, and performance of federal and state ministers in length ...

Bank investments grow 37 per cent
Banking spreads down 7bps in May
Mohammad Shariq
KARACHI: Investments of scheduled banks have now reached the historic mark of Rs1.34 trillion at the end of 1HCY09 as compared to Rs0.98 trillion as on December 2008, reflecting a significant surge of 37 per cent in just 6 months, State Bank of Pakistan's (SBP) data reveals. ...

FBR to release tax data by weekend
Says Rs1150bn revenue collected so far
ISLAMABAD: The Federal Board of Revenue (FBR) has collected over Rs1150 billion revenues during the financial year 2008-09 so far, however a substantial amount of revenues collected in June are still in the pipeline. ...

Orascom starts mobile banking in Pakistan
CAIRO: Egypt's Orascom Telecom (OT) said Thursday it had launched a mobile banking operation via its subsidiary Mobilink in Pakistan, widening access to banking in a country with limited penetration. The firm said the services would be provided in association with Citibank under an arrangement endorsed by the State Bank of Pakistan. ...

Central bank mops up Rs38.7bn at 11pc
KARACHI: State Bank of Pakistan (SBP) has mopped up Rs38.7 billion under its open market operations through 2-day repo sale in Treasury Bills on July 2, 2009.
According to SBP here Thursday, the rate of return for accepted bids touched to 11 per cent ...

467,000 jobs cut in June; jobless rate at 9.5pc
CAMBRIDGE: America youth concerned over uncertain future as Wall Street may be losing its lustre for new US college graduates who are increasingly looking to the government for jobs that enrich their social conscience, if not their wallet. ...

Indicators
Economic Indicators 
Indicator  Value 
GDP Growth FY09E 2.00%
Per Capita Income FY09 $1,046
Population 166.80mn
Forex Reserves
(27-Jun-09)
$11.84bn
Inflation CPI %
(Jul-08 May-09)
21.55%
Exports
(Jul-08 May-09)
$16.26bn
Imports
(Jul-08 May-09)
$31.48bn
Trade Deficit
(Jul-08 May-09)
$(15.22)bn
Current A/C
(Jul-08 May-09)
$(8.22)bn
Remittances
(Jul-08 May-09)
$7.08bn
Foreign Invest
(Jul-08 May-09)
$2.22bn