Business

Participants of the meeting called on OIC to consider establishing an emergency fund to address natural disasters .

The IMF said it would discuss with Pakistan officials the steps to be taken by the fund to ease the country’s pain.

Gold prices remained range bound in the outgoing week, with per tola rates closing at Rs39,379.

Cotton prices continued to decrease as the initial panic brought on by the floods in began to subside.

Thai Airways International is working actively to boost tourism numbers to previous levels.

Almost 80 per cent of the poultry that is produced in Pakistan is dependent upon chicken flocks imported from the US.

The market remained range-bound and closed almost flat with a slight gain of 0.4 per cent during the week.

This was revealed by the data released by the All Pakistan Cement Manufacturers Association (APCMA).

Duty-free items imported during 2009-10 included petroleum products, pulses,vegetables and other essential food items.

TSML is a subsidiary of Al Tuwairqi Holding and is Pak’s first private sector integrated steel manufacturing project.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.13 per cent or 12.74 points higher at 9,860.35.

SBP will introduce credit guarantee schemes for encouraging banks to extend fresh loans in flood-hit regions.

Some traders say PSO had declared force majeure on two diesel parcels from Kuwait Petroleum Corp.

Circular debt now stands at an approximate Rs131b, significantly higher than the previous estimate of Rs116b.

Approximately 200,000 cows, sheep, buffaloes, goats and donkeys have already been confirmed dead or missing.

Islamabad has concluded that it is now impossible for it to meet the conditions of the lending programme of 2008.

A coalition of Pakistani American organisations urged Obama to press Congress to approve the ROZ bill.

Government’s plan to construct one million houses under PM's Housing Scheme is attracting foreign investors.

Developing Asia's middle class is increasing its size and purchasing power with remarkable growth in expenditure.

Textile industry is asking for greater access to the US and European Union markets as it struggles for survival.

Textile exports plummeted by $76 million to $804.3 million in July.

Rampant smuggling of tea under the Afghan Transit Trade (ATT) has impacted the first half of 2010 earnings.

Bullish trends after Asian Development Bank’s offer to lend a $2 billion emergency package.

Since September 2008, the power company has paid Rs52 billion to SSGC against purchases worth Rs56 billion.

A draft has been prepared for the formation of such an organisation which will soon be sent to the prime minister.

Distribution companies have requested an increase of 52 paisa in per unit price of electricity.

Non-performing loans of banks had risen by Rs2.6 billion during the second quarter of 2010 to Rs460 billion.

The existing federal and provincial budgets can be restructured to make a jump start, and the donors will follow.

Estimate puts the number of domesticated animals that have been lost in the floods at over 100,000.

Acute power shortages and high prices of utilities have pushed the cost of production upward.

Refinery production decreased one per cent to 673,000 tons in July compared with the same month last year.

The direct tax collection target has been slashed by Rs12.7 billion to Rs645 billion.

The company is being taxed at an extraordinarily high effective rate of 70 per cent.

Positive sentiments were witnessed during early trade on reports of foreign buying.

India is now seen exporting about eight million bales of cotton, mostly to Pakistan and China.

Pakistan’s trade deficit is set to increase because of the destruction caused by the floods.

SBP is working on a new microfinance strategy with a greater focus on inclusive financial services.

Agricultural experts fear that gushing waters have washed away the nutrient- rich top soil of many agricultural areas.

The Western Union Foundation will also contribute $100,000 towards disaster relief efforts.

Forecasts of automobile sales volumes are being slashed by analysts because of the worst floods to hit Pakistan.

The market bounced back on Tuesday, gaining 141 points after a drop of almost three per cent during trade on Monday.

CEO of Getz Pharmaceutical said the biggest hurdle for the pharmaceutical sector was inconsistent government policies.

Fauji Fertiliser has expressed interest in acquiring Agritech and plans to purchase 80 per cent of the shares.

Millers say they had advised government to import raw sugar instead of refined so foreign exchange could be saved.

Local pharmaceutical’s earnings are expected to increase due to a rise in demand for medicines to treat flood victims.

Cement dispatches have already declined by 20 to 30 per cent due to floods and the trend is expected to continue.

Despite the floods, there is no fear of food shortage as strategic reserves are able to meet domestic requirements.

The negative effects of the devastation caused by the floods has started showing on tax receipts.

While increasing the age limit for imported cars may help consumers, it could hurt Pakistan’s fragile economy.

Good news for Pakistan in the telecommunications sector where access to services is nearing historic landmarks.