Tag: Hit
MTS ‘rumours’ hit KSE to restore investors’ confidence
KARACHI - The rumors are hovering over volatile Karachi Stock Exchange (KSE) that the government is all set to make the long-awaited Margin Trading System (MTS) operational by the next week at the country's largest bourse. "The Margin Trading System to be operational from March 7," sources disclosed and said that the Federal Finance Minister Dr Abdul Hafeez Sheikh would be formally launching the leveraged product on coming Monday during his maiden visit to Karachi bourse.
Oil spike to hit West harder than emerging economies
BEIJING - No two oil shocks are alike, but the chances are that emerging economies could suffer a little less than the developed world if the latest price surge to 29-month highs is sustained. Yet this would not be another illustration of how developing countries are decoupling from the West, for slower growth in the rich world would eventually rebound on emerging nations.
Only oil exporters are unambiguous winners - for a while, at least - from the redistribution of income set
Only oil exporters are unambiguous winners - for a while, at least - from the redistribution of income set
Israeli jets hit militant camps in Gaza
GAZA CITY - Israeli warplanes bombed militant training camps in the Gaza Strip for a second time on Saturday, wounding one person, Palestinian officials said. The jets hit two training camps of the Ezzedine al-Qassem Brigades, the armed wing of Gaza's ruling Hamas movement, in the southern city of Rafah, Hamas security officials said, adding that one bystander was lightly wounded. The raids came after pre-dawn strikes against two training camps of the hardline Islamic Jihad group.
Greek police clash with anti-austerity protesters
ATHENS - Greek police clashed with protesters on Wednesday as around 100,000 workers, pensioners and students marched to parliament in protest at austerity policies aimed at helping Greece cope with a huge debt crisis. Riot police fired scores of rounds of teargas and flash bombs at protesters hurling petrol bombs, choking the main Syndagma square with smoke and sending crowds of striking protesters running for cover.
Public and private sector employees' 24-hour strike grounded
Public and private sector employees' 24-hour strike grounded
Family deaths hit Sri Lanka curtain raiser
COLOMBO - Sri Lankan batsman Chamara Silva is likely to miss his team's opening World Cup match, due to a death in his family, an official said Thursday. Silva left the team hotel in Colombo early Thursday, shortly after his elder sister Nelum Anusha Silva passed away, Sri Lanka media manager Brian Thomas said.
Team manager Anura Tennakoon's father, P.B. Tennakoon, also passed away early Thursday, Thomas said. The funeral takes place on Thursday. Tennakoon is currently in Dhaka
Team manager Anura Tennakoon's father, P.B. Tennakoon, also passed away early Thursday, Thomas said. The funeral takes place on Thursday. Tennakoon is currently in Dhaka
Forex reserves again hit record $17.447 billion
KARACHI - The country's liquid foreign exchange reserves have once again hit the highest level of over $17.447 billion during the week that ended on February 15. It was the last week on February 5, when the foreign exchange reserves slid to $17.314 billion after touching a record high of $17.386 billion a week earlier.
According to the State Bank of Pakistan (SBP), during the week under review the country held a foreign exchange of $17.447 billion against $17.314 billion of
According to the State Bank of Pakistan (SBP), during the week under review the country held a foreign exchange of $17.447 billion against $17.314 billion of
Investor morale takes a hit at bourse
KARACHI - News regarding calculation and reporting of CGT further dampened investor's morale that were already shaken by diplomatic row over arrest of U.S citizen, resultantly KSE-100 hit the valley below 11,900 level only to recover in the wee hours, owing to support at lower levels amidst thin volume of 68 million shares.
The KSE-100 index closed at the 11,946.09 levels with the gain of 2.75 points, while total volume stood at 42,763,152 along with the value of 2,443,478,415.
The KSE-100 index closed at the 11,946.09 levels with the gain of 2.75 points, while total volume stood at 42,763,152 along with the value of 2,443,478,415.
Export deals will hit snags, says Ministry of Commerce
KARACHI - Export deals, worth millions of dollars, are likely to hit a snag as the Ministry of Defence, citing security reasons, is reluctant to issue VIP protocol passes to exporters for receiving their buyers at airports.
Though extended dates of the protocol passes, issued to the exporters, are going to expire by February 9, 2011, both the ministry of Defence and Ministry of Commerce are yet to arrange the new passes despite repeated requests by the country's exporters,
Though extended dates of the protocol passes, issued to the exporters, are going to expire by February 9, 2011, both the ministry of Defence and Ministry of Commerce are yet to arrange the new passes despite repeated requests by the country's exporters,
People buy less sugar as prices hit the roof
ISLAMABAD - With sugar prices having risen astronomically in the past one year, the country's annual sugar consumption is expected to decline by up to 1 million tonnes to 3.2 million tonnes. An official source said this assessment had been made by the Ministry of Industries when it noticed that monthly sugar consumption had gone down from 350,000 tonnes to 270,000 tonnes.
The decline in sugar consumption is attributed to the commodity's high price, currently Rs 75 per kilogramme,
The decline in sugar consumption is attributed to the commodity's high price, currently Rs 75 per kilogramme,
Embattled Australia hit by fires
PERTH - Wildfires destroyed homes and flooding claimed the life of a man in embattled Australia on Sunday, as officials warned that last week's monster cyclone would compound economic woes. Three major fires razed properties around the west coast city of Perth, as a volatile weather system trailing Cyclone Yasi, a top-level storm that battered Australia's northeast coast Thursday, continued to wreak havoc.
"There have been homes destroyed but we are not sure how many at this
"There have been homes destroyed but we are not sure how many at this
Ke$ha hit with $14 million lawsuit from former manager
NEW YORK - A management team that claims they helped put the $ in Ke$ha is apparently asking for an immediate-and enormous-return on its inve$tment. The suit was filed in Manhattan Supreme Court by DAS Communications, in which they define the artist born KeshaSebert as "a very young and inexperienced artist whose 'star' may not continue to rise."
Court papers show that the company is seeking $14 million in damages from Sebert, and an additional $12 million from super-producer Dr.
Court papers show that the company is seeking $14 million in damages from Sebert, and an additional $12 million from super-producer Dr.
Afghan women cricketers aim to hit rivals for six
KABUL - In a park where men are banned, surrounded by walls topped with barbed wire in a country embroiled in war, a group of Afghan women play a controversial game -- cricket.
Afghanistan's first national women's cricket team -- whose existence would be inconceivable under the hardline Taliban Islamists fighting to regain power -- are practising for their international debut.
The team, many of whom play in headscarves, will compete against other female sides from across
Afghanistan's first national women's cricket team -- whose existence would be inconceivable under the hardline Taliban Islamists fighting to regain power -- are practising for their international debut.
The team, many of whom play in headscarves, will compete against other female sides from across
Global property investments to hit $380 billion in 2011
LONDON - Global direct real estate investment is forecast to rise 20 percent this year to $380 billion, led by a sharp rebound in the United States, with total volumes still about half the market's 2007 peak, a report said. Investments in commercial real estate - mainly offices, malls, and industrial properties - had reached $316 billion in 2010, a 50 percent jump from an eight-year low of $209 billion in 2009, property consultancy Jones Lang LaSalle said. Investment volumes soared to
Oil drilling takes a hit, falls 32 percent
KARACHI - Drilling by the oil and gas exploration companies in Pakistan has slowed by 32 percent in the first half of the financial year 2011, despite government's focus to tap more indigenous energy resources.
A meagre 19 wells have been drilled as compared to 28 in the last corresponding period and the number is inclusive of both exploratory and development wells. This hampered drilling activity could reduce the much needed future of oil and gas production.
According to
A meagre 19 wells have been drilled as compared to 28 in the last corresponding period and the number is inclusive of both exploratory and development wells. This hampered drilling activity could reduce the much needed future of oil and gas production.
According to
India cotton prices expected to hit record high
MUMBAI - Indian cotton prices are likely to extend last week's gains to hit a record high, lifted by strong demand from exporters to fulfil their exports obligations and as overseas markets jump, dealers said. "Exporters were very active in the spot market. Arrivals were there, but quality fibre was in short-supply," said a senior official at Gujarat State Cooperative Cotton Federation. India's cotton export deadline will expire on Feb. 25 for the remaining unshipped quantity of the
Raja and Sana hit out at each other
LAHORE - The Punjab Assembly witnessed a pandemonium on Wednesday when the lawmakers used harsh words while debating the role of turncoats. Most vocal on the issue were the provincial law minister and the opposition leader in the assembly.
The house proceedings were in progress as per routine until a senior minister Raja Riaz on a point-of-order said that PML-N should say goodbye to the PML-Q unification bloc and desist the temptation of encouraging turncoats. The suggestion
The house proceedings were in progress as per routine until a senior minister Raja Riaz on a point-of-order said that PML-N should say goodbye to the PML-Q unification bloc and desist the temptation of encouraging turncoats. The suggestion
China forex reserves hit record
BEIJING - China said Tuesday its foreign exchange reserves hit a record high at the end of 2010, which is likely to fuel calls for a stronger yuan when President Hu Jintao visits Washington next week.
The increase in the forex holdings, already the world's largest, highlighted imbalances in global trade and the challenge Beijing faces in stemming a flood of liquidity into the country.
China's foreign exchange reserves expanded 18.7 percent from a year earlier to $2.847
The increase in the forex holdings, already the world's largest, highlighted imbalances in global trade and the challenge Beijing faces in stemming a flood of liquidity into the country.
China's foreign exchange reserves expanded 18.7 percent from a year earlier to $2.847
