Business

The State Bank of Pakistan has urged Islamic financial institutions to distinguish themselves from conventional.

Foreign exchange reserves fell to $16.5 billion in the week ended on July 30.

Stocks ended lower in lacklustre trading on Thursday as investors preferred to book profits at inflated levels.

MCB Bank has announced lower-than-expected earnings January to June 2010, up two per cent on yearly basis.

Pakistan's largest independent power provider is facing imminent threat from flood.

Indus Refinery Limited (IRL) and China have agreed to establish an oil refinery in Karachi to meet the growing demand.

Sindh and Punjab are at loggerheads over the distribution formula for General Sales Tax (GST) on services.

Broad money registered a decline of 1.98 per cent in the first month of the current fiscal year.

The stock market remained range-bound on Wednesday as investors stood cautious following violence in the city.

Government's BSF has chalked out a plan to launch its programme for providing skilled labour to Sialkot industries.

Trade delegation sent to improve bilateral economic ties returned home unsuccessful.

Ambassador to Malaysia stressed on multiplying existing trade between the two countries.

A loss of Rs35 billion in tax revenues has been estimated due to destruction caused by flooding and Karachi violence.

Flash floods have submerged cotton fields and may lead to a drop in production by one to three million bales.

Analysts have been able to formulate some crude estimates of the effect of the floods on the country.

Companies and industrialists were unable to issue salaries to employees in the absence of banking services in Karachi.

Chairperson of CCP has said that financial constraints are hampering enforcement of anti-trust law.

The BlackBerry Torch may pose as a contender to the iPhone upon its release in early August.

Pepco has incurred a cumulative loss of Rs4b in the floods, including the washing away of Swat's 132KV grid station.

Prices of LPG increased by Rs5 per kilogramme in Punjab and Khyber-Pakhtunkhwa on Tuesday.

The federal government has agreed to revise gas curtailment to fertiliser industry.

Iran seeks alternative hubs as ships carrying petroleum face greater scrutiny at ports in the UAE.

The CCP conducted a meeting on the possible anti-competitive behaviour in the pultry industry.

Meezan Bank's net profit increased 14 per cent from January to July 2010.

Meeting on implementation of GST could not be held as a delegation could not reach Islamabad due to bad weather.

Rupee hits new all-time low as it loses another six paisa against the dollar on Tuesday.

Analysts predict a drop in car sales after discussion with the automobile industry.

Millions of people were unable to open shops or earn wages in the wake of the killing of MQM MPA Raza Haider.

Stocks ended marginally higher on Tuesday as investors stayed on the sidelines due to violence in the city.

A parliamentary committee has criticised the State Bank's monetary policy as being far from reality.

NA unanimously approved a bill aimed at capping the federal government’s borrowing from the SBP.

The stock market fell sharply on Monday after an unexpected increase in discount rate by the central bank.

The rupee dropped by 14 paisa and hit a record low of 85.77/84 against the dollar on Monday.

Sugar prices have increased once again, this time by Rs1.5 per kilogramme in wholesale markets.

Flour prices have been slashed by seven rupees per 10-kilogramme bag in wholesale markets.

LPG prices are expected to fall as Saudi Aramco Contract Price has declined by $33 to $589 per ton.

The financial policies being followed at present will turn Pakistan Steel Mills into a profit-making entity.

Pakistan is considering allowing import of 22 more items from India by shrinking the list of banned products.

Pakistan stands at number 27 with respect to purchasing power and 45 with respect to dollar terms on the globe.

More than any other country, the United Kingdom has been by far the largest Shariah-compliant banking hub for Muslims.

And now the SBP joins the growing chorus of voices that say the government’s plan to finance its fiscal deficit.