Halal Tamweel

ISLAMABAD: Pakistan's economic outlook is positive, however needs adherence to the national economic reforms agenda to overcome the challenges it has been facing currently, newly appointed Country Director Asian Development Bank (ADB) said here on Thursday.

ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) will provide Business Virtual Private Network (VPN) services to facilitate telemedicine project for public hospitals across Pakistan through the Electronic Government Directorate.

KARACHI: The cotton prices at Karachi Cotton Association (KCA) remained intact at Rs 6,400 on Thursday.

SINGAPORE: Brent crude rose above $104 a barrel on Friday on positive economic news, but prices this quarter remain on track for their biggest drop in 15 months on concerns that a slowing global economy will undercut fuel demand.

KARACHI: The State Bank of Pakistan (SBP) intervention in the currency markets to stabilize rupee value would work well for the market on Friday.

International Commodities Rates

KARACHI:Pakistan's foreign exchange reserves fell to $17.38 billion in the week ending Sept. 24 from $17.64 billion the previous week, the central bank said on Thursday.

Pakistan refinery sector production fell by 18 percent 2MFY11-12 Pakistan refinery sector production fell by 18 percent as it stood at 1.2 million tons in first two months of fiscal year 2011-12 (2MFY11-12) as compared to 1.4 million tons in the corresponding period last year. However, in the month of August, Pakistan's refinery production slashed by 28 percent month on month (MoM).

KARACHI: Fertilizer offtake improved by nominal 4 percent YoY to 5.12 million tons during eight months of calendar year Jan-Aug as compared to 4.95 million tons in the same period last year, according to the latest figures disclosed by National Fertilizer Development Centre (NDFC).

ISLAMABAD: Chinese company M/S Dongfang Electric Corporation (DEC) is all set to invest in various sectors of energy generation in the country.

ISLAMABAD: The Oil and Gas Development Company (OGDCL) has claimed to be the best exploration company worldwide for registering successful discoveries with finding one well productive out of four.

SINGAPORE: Brent crude fell to near $103 on Thursday, declining for a second day after a bigger-than-expected increase in U.S. stockpiles heightened concern that demand may slow and doubts over the eurozone rescue fund weighed on confidence.

KARACHI: Pakistan gold prices eased down on Wednesday in major bullion markets of the country after gaining some boost a day before.

ISLAMABAD: India on Wednesday announced withdrawal of its veto on a European Union Duty free programme for Pakistani products in World Trade Organization.

KARACHI: Fertilizer and oil stocks will remain in limelight with better expected dividend yield and improved sales. Market is expected to remain steady after rupee strengthening once again and signaling that macroeconomic outlook is not as bleak as was thought few days ago.

International Commodities Rates

KARACHI: On the back of higher demands Pakistan cotton prices witnessed modest gained on Wednesday as mills indulged in active trading. The Karachi Cotton Association (KCA) official spot rates moved up by Rs 100 to Rs 6,400 on Wednesday, dealers said.

KARACHI: Pakistan National Shipping Corporation (PNSC) has announced its financial result for the year ended Jun 30, 2011.

SINGAPORE: Gold slipped 1 percent in volatile trade on Wednesday as the U.S. dollar regained strength on doubts over the progress of Europe's efforts to tackle the region's debt crisis, while this week's brutal correction also kept investors at bay.