ISLAMABAD: PPP Co-chairman Asif Ali Zardari on Saturday said that Japan has given assurance to Pakistan for further strengthening of existing trade ties between the two countries.
Zardari was talking to media after meeting with Foreign Minister of Japan Masahiko Komura here.
Terming the meeting very positive, he said Japan has decided to extend more assistance to […]
ISLAMABAD: The State Bank of Pakistan has refused to provide any financial assistance with low mark-up rate to the textile industry citing huge internal borrowing burden, sources told Business Recorder here on Saturday. The mark-up rate rose three-fold in 4 years. The rate, which stood at 3.5-4 percent in 2003-04, jumped to 16 percent in […]
RIYADH: Saudi Arabia, which pegs its riyal currency to the dollar, cut its reverse repurchase rate by 25 basis points on Saturday following a US rate cut, but continued a policy of keeping its benchmark lending rate steady.
The Saudi Arabian Monetary Agency (Sama) cut the reverse repo rate to 2 percent and left the benchmark […]
FAISALABAD: The Ministry of Food, Agriculture and Livestock (Minfal) is chalking out a plan to cultivate maize crop over 1001,000 hectare to produce 2,379,000 tonnes of maize to fulfil the domestic maize consumption during 2008-09.
According to official sources, the maize crop is an essential food crop, which is being used in different food items as […]
ISLAMABAD: Chinese Customs Department has agreed to provide import/export related information of Chinese products including details about commercial invoices, authentic value and packing list, etc, to the Pakistani tax authorities to help the latter unearth big cases of under-invoicing.
Sources told Business Recorder on Saturday that the Chinese government has assured full co-operation in checking massive […]
MADRID: The Asian Development Bank is opposed to any Opec-style rice cartel grouping Thailand, the worlds biggest exporter, and four other Asian nations, its president said on Saturday.
“Agricultural markets should be market oriented. It would not be good for exporters and it certainly would not be good for importers,” ADB president Haruhiko Kuroda said on […]
KARACHI: As was expected, the dollar breached the barrier of Rs 65 level in the interbank market on Saturday, dealers said. Market sources attributed the fall in the rupees value to the high demand for dollars by importers and other dominating factor is the hovering uncertainties on the economic and political fronts.
The rupee fell and […]
ISLAMABAD: Taxpayers have to submit documentary evidence for redressal of their grievances against the tax officials by filing representations with the Federal Board of Revenue under the proposed grievance cell. Sources told Business Recorder on Saturday that the FBR has drafted (Representation and Redress of Grievances) Regulations, 2008, which would be issued through a notification.
The […]
KARACHI: International shipping lines are likely to convert their freight based transactions from dollar into euro, Business Recorder learnt on Saturday. A shipping analyst said: “We will not be surprised if the international shipping lines adopt euro as the currency for their freight transactions within the next two to three years.”
Citing reasons, he said that […]
MADRID: India must boost infrastructure spending and reform its labour market as China has done if it wants its economy to grow as fast as that of its Asian neighbour, participants at the Asian Development Banks(ADB) annual meeting in Spain said Saturday.
“The Chinese manufacturing success story has a lot to do with a physical infrastructure […]