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Oil prices retreat from US$126 a barrel
3 hours ago
Source: Geo Television Network
BANGKOK: Oil prices retreated Monday in Asia from last week''s record close near US$126 a barrel as the dollar strengthened against the euro and yen.
Light, sweet crude for June delivery dropped 32 cents toUS$125.64 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.
On Friday, the contract broke above US$126 for the first time andsettled at a record close of US$125.96 a barrel, up US$2.27. ... more
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Rupee gains at the onset of market today
5 hours ago
Source: Geo Television Network
KARACHI: Rupee value was seen rising at the beginning of the trading today, following last week’s record slides.
Dollar in the inter-bank trading this morning was seen exchanged at Rs66.90 as against the Friday lowest at Rs69.40, showing a rise by 3 percent. Escalating import bill of oil and the apprehensions on the prevalent political and social in the country triggered this year a downslide in the value of rupee.
Dollar was seen sold in the ready market and telegraphic transfer at Rs68.30 and Rs68.50. Other currencies as against Rupee exchanged: British Pound at Rs133.00, Euro at Rs105.35, Japanese Yen at Rs0.664, Emirates Dirham at Rs18.60, Saudi Riyal at Rs18.30, while Canadian dollar at Rs67.50. ... more
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China''s trade surplus soars
7 hours ago
Source: Geo Television Network
BEIJING: China''s trade surplus stood at 16.7 billion dollars in April, according to customs figures made public Monday.
The figure compares with a trade surplus of 13.4 billion dollars in March, and 8.6 billion dollars in February.
Chinese exports in April rose 21.8 percent from a year earlier to 118.7 billion dollars, while imports increased 26.3 percent to 102 billion dollars, the figures showed.
The trade surplus for the first four months reached 58.0 billion dollars, the bureau said. It did not say how much it had changed from the same period last year.
In the four months from January to April, exports rose 21.5 percent from the same period a year earlier to 424.6 billion dollars, the bureau said.
Imports in the same four months totaled 366.6 billion dollars, up 27.9 percent. ... more
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China plans Tibet power line
16 hours ago
Source: The News
BEIJING: China plans to build a power transmission line from north western Qinghai province to the troubled province of Tibet in a bid to boost the re ... more
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Competing firms complete feasibility reports
16 hours ago
Source: The News
KARACHI: The two international firms in fray for constructing a 1,000MW power plant, which will use imported coal as fuel, have completed feasibility ... more
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Mortgage credit losses could total $500bn: Goldman
16 hours ago
Source: The News
NEW YORK: Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after ... more
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''Dollar, not supply, causes record oil''
16 hours ago
Source: The News
TEHRAN: The weak US dollar is the main reason behind oil prices rising to record levels, not demand or supply factors, an Iranian Oil Ministry officia ... more
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Auto sales fell 5pc in April
16 hours ago
Source: The News
KARACHI: According to the data released by Pakistan Automotive Manufacturers Association (PAMA) for local auto sales in April 2008, the sales of cars ... more
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BD seeks $500m loan from ADB
16 hours ago
Source: The News
DHAKA: Bangladesh has sought nearly $500 million in loans from the Asian Development Bank to install two power plants with the total capacity of 175 m ... more
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Chinese raw material dominates frame-making industry
16 hours ago
Source: The News
The News: When did you start this frame-making business?
Faisal Shakeel: This is our family business and I have been at this shop for the last ... more
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