Monday August 31, 2009

KARACHI : Trade Development Authority of Pakistan (TDAP) has invited expression of interest (EoI) for development, maintenance and hosting of its web portal. According to TDAP here Saturday, the pre-qualified, reputable and experienced firms will be eligible to apply for this task. Bidding will be held on September 10 at its head office.

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Monday, August 03, 2009

ISLAMABAD: Federal Minister for Investment Senator Waqar Ahmad said that the government has announced proposed new Investment Policy 2009-15. The New Investment Policy envisages major policy initiatives for materialising the vision of President Asif Zardari and Prime Minister Yousaf Raza Gilani as well as in accordance with the manifesto of the party. The new policy focuses on policy and legal frame work, promotion and advocacy and initiatives and implementation. The present government wants to put the country on road to economic stability by alleviating of poverty, creation of job opportunities and decreasing the trade deficit through increased productivity of our agriculture and manufacturing sector. Senator Waqar Khan informed the media that under the new policy, it has been envisages that Special Economic Zones would be created in the country to attract foreign and domestic investors.

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Thursday July 16, 2009

KARACHI: The Results of P.B. Rs. 750/- held at Peshawar have been announced: 1st Prize of Rs. 1500000/- PB# 103583, 2nd Prize of Rs. 500000/- PB# 355235, PB# 878270, PB# 578460 Complete results of other prizes are available now, Click here to check your draw result!!

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Wednesday July 15, 2009

KARACHI: The Results of P.B. Rs. 750/- held at Peshawar have been announced: 1st Prize of Rs. 1500000/- PB# 103583, 2nd Prize of Rs. 500000/- PB# 355235, PB# 878270, PB# 578460 Complete results of other prizes will be available here within a few hours, so stay tune with us.

Check your prize bond draw result within a few hours of every draw on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

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Saturday July 04, 2009

Karachi: The results of Prize Bond draw of Rs. 15000 held at Rawalpindi have been announced. According to the results, 1st Prize of Rs. 30000000 has been won by PB# 372827, 2nd Prize of Rs. 10000000 won by PB# 432728, PB# 907891, and PB# 286180. Complete results of other prizes are AVAILABLE NOW. on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

Finance.Kalpoint.com, has long been enjoying the privilege of making the prize bond draws available for its users online within 4 hours of the draw. No other source can make available the online prize bond draw results that quickly....! It's the Brilliance of Finance.KalPoint.Com that makes it possible for you...!

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Friday July 03, 2009

Karachi: The results of Prize Bond draw of Rs. 15000 held at Rawalpindi have been announced. According to the results, 1st Prize of Rs. 30000000 has been won by PB# 372827, 2nd Prize of Rs. 10000000 won by PB# 432728, PB# 907891, and PB# 286180. Complete results of other prizes are AVAILABLE NOW. on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

Finance.Kalpoint.com, has long been enjoying the privilege of making the prize bond draws available for its users online within 4 hours of the draw. No other source can make available the online prize bond draw results that quickly....! It's the Brilliance of Finance.KalPoint.Com that makes it possible for you...!

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Friday July 03, 2009

KUALA LUMPUR: Foreign investment in Malaysia has plummeted this year, Trade Minister Mustapa Mohamed said Thursday after the government announced liberalisation measures aimed at luring investors. "Foreign direct investment for 2008 was 46 billion ringgit (13 billion dollars) and for January to May this year we have only seen 4.2 billion ringgit," Mustapa told reporters.

Wahad Hamid, deputy head of the Malaysian Industrial Development Authority, said the investment climate was extremely tough despite a strong performance by Malaysia in the three previous years. "Last year, total investment was about 62 billion ringgit but this year we are only targetting half of that, about 30 billion ringgit," he told reporters.

Mustapa said he was confident that liberalisation measures announced by Prime Minister Najib Razak this week would help bring in more funds, amid forecasts of a 5.0 percent economic contraction this year. "We are confident that investor sentiment will improve, we are encouraged by all the measures taken by the government," he said.

The liberalisation moves targeted a decades-old policy of positive discrimination for Muslim Malays, which critics say is making Malaysia uncompetitive. Najib scrapped a rule requiring initial public offerings to reserve 30 percent of stock for Malays - who dominate the population of the multicultural nation - and dumped regulatory approval for foreign property purchases.

However, Mohammed Ariff, head of the influential Malaysian Institute of Economic Research, said the measures were poorly timed and would not bear fruit until the global economy recovers. "The liberalisation announcements should have been made in the good times instead of now, as there would have been a lot of responses from foreign investors," he told AFP.

Ariff said that despite hopes for a recovery next year, Malaysia's economy is unlikely to really get back up on its feet until 2012. "To me real recovery is not just positive growth but going back to the growth we are used to, of around six percent, and that is way off - until 2012," he said.

(BRecorder)

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Friday July 03, 2009

MULTAN: Condemning the hike in petroleum products, the business community said that the decision to increase POL prices would further raise the prices of essential commodities and dampen business activities in the country. President of the Multan Chambers of Commerce and Industry, Anis Ahmed Sheikh, in a press statement issued here on Thursday, strongly criticised the government's decision of increasing POL prices.

He said that around 70 per cent of the electricity in the country was generated through thermal sources and the hike would significantly push up power prices. He also said that this state of affairs was not good for the country's economy and would further increase prices of all items, making life for the common man more miserable.

He lamented that whenever POL prices went up in the international market, the government never lost time increasing prices in the domestic market. But when the prices came down, the required relief was not passed on to the masses. He called upon the government to break out of the clutches of donor agencies and the International Monetary Fund (IMF) and make independent decisions in the larger national interest, otherwise, people would lose trust in democracy.

President MCCI, said that raising POL prices, particularly at a time when trade and industry was passing through a difficult phase, was an unwise decision. He said that as a result of the hike, consumers would have to face extremely high prices of commodities, which would further render Pakistani products uncompetitive in the local, as well as international market.


(BRecorder)

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Friday July 03, 2009

BEIJING: Pakistan and China would intensify their efforts to increase bilateral trade through land route, Ambassador Masood Khan said on Thursday. Ambassador Khan who led a delegation to the fifth Central and South Asian Commodity Fair organised by Kashgar prefecture told APP after three day visit to Kashgar.

He said that two more delegations from Pakistan participated in the fair. Syed Ahmed Hussain Shah, NWFP Industries Minister, and Babar Yaqoub Fateh Muhammad, Chief Secretary Northern Areas, led these delegations in the trade fair, which was largely attended by diplomats and delegations of several Central Asian and South Asian countries.

Besides, official delegations, hundreds of Pakistani businessmen participated in the seminar. There were about more than 80 Pakistani exhibitors who established their stalls in the international fair. During his visit, Ambassador Masood Khan said he held in-depth talks with Commissioner of Kashgar Akbar Gopur to explore ways and means to strengthen economic and trade ties between Xinjiang and Northern Areas of Pakistan.

"Border trade right now constitutes merely 5 per cent of the overall trade. Both sides are keen to enhance overall trade and increase the volume of bilateral trade which has immense potential", Ambassador Khan observed.

The border trade takes place through Karakoram Highway (KKH) also known as Pakistan-China friendship highway. Extensive work is being done to repair and upgrade the KKH of the Pakistani side. The repair and upgradation is likely to be completed by 2011-2012, Khan said. "With upgradation of KKH, the volume of trade would increase, the speed of transportation would pick up", the Pakistani Ambassador said.

Ambassador Masood Khan visited Pakistani stalls, mingled with Pakistani businessmen and talked about trade potential between Pakistan and China and how it can further be enhanced.

He also visited Pakistan trade house in Kashgar and addressed a large gathering of Pakistanis. The gathering was hosted by Zahid Traders, a leading Pakistani enterprise doing business in Pakistan, Xinjiang, and Central Asia. Kashgar government also organised a culture evening during, which a popular Xinjiang Singer Muhammad Amin sang Pakistan's national song "Ye mera Pakistan he; ye tera Pakistan he", this made all Pakistanis proud and several of them rushed to the stage to sing and dance with Chinese singer.


(APP)

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Thursday July 02, 2009

Karachi: The results of Prize Bond draw of Rs. 15000 held at Rawalpindi have been announced. According to the results, 1st Prize of Rs. 30000000 has been won by PB# 372827, 2nd Prize of Rs. 10000000 won by PB# 432728, PB# 907891, and PB# 286180. Complete results of other prizes will be available here within a few hours, so stay tune with us.

Check your prize bond draw result within a few hours of the draw on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

Finance.Kalpoint.com, has long been enjoying the privilege of making the prize bond draws available for its users online within 4 hours of the draw. No other source can make available the online prize bond draw results that quickly....! It's the Brilliance of Finance.KalPoint.Com that makes it possible for you...!

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Thursday July 02, 2009

KARACHI: The benchmark KSE-100 Index of Karachi Stock Exchange surged by 109 points on the opening day of the new financial year, closing at 7,270.

The share market opened upbeat and the major Index was seen in the green territory throughout the session.

Energy and cement sectors drew particular attention of the investors who took fresh positions in these sectors on reports of slashing of interest rate by the State Bank of Pakistan (SBP) and reduction in profit rates on national savings schemes.

Trade volume was recorded at 100 million shares.

DG Khan Cement was today’s star performer in terms of volume which gained paisas 85 to close at Rs30.50.

KSE-30 Index advanced by 141 points to peg at 7,711

Thursday July 02, 2009

KARACHI: The benchmark KSE-100 Index of Karachi Stock Exchange surged by 109 points on the opening day of the new financial year, closing at 7,270.

The share market opened upbeat and the major Index was seen in the green territory throughout the session.

Energy and cement sectors drew particular attention of the investors who took fresh positions in these sectors on reports of slashing of interest rate by the State Bank of Pakistan (SBP) and reduction in profit rates on national savings schemes.

Trade volume was recorded at 100 million shares.

DG Khan Cement was today’s star performer in terms of volume which gained paisas 85 to close at Rs30.50.

KSE-30 Index advanced by 141 points to peg at 7,711

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Thursday July 02, 2009

Karachi: The results of Prize Bond draw of Rs. 15000 held at Rawalpindi have been announced. According to the results, 1st Prize of Rs. 30000000 has been won by PB# 372827, 2nd Prize of Rs. 10000000 won by PB# 432728, PB# 907891, and PB# 286180. Complete results of other prizes will be available here within 3-4 hours, so stay tune with us.

Check your prize bond draw result within four hours of the draw on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

Finance.Kalpoint.com, has long been enjoying the privilege of making the prize bond draws available for its users online within 4 hours of the draw. No other source can make available the online prize bond draw results that quickly....! It's the Brilliance of Finance.KalPoint.Com that makes it possible for you...!

Don't forget to visit us tomorrow to check your Prizebond results...!

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Wednesday July 01, 2009

Karachi: The Results of latest draw of P.B. Rs. 15,000 is scheduled to be held on July 02, 2009. Don't forget to check your prize bond draw result within four hours of the draw on Finance.Kalpoint.Com or by simply clicking this link :"Check your Prize Bond Draw Result", on this blog. By clicking on the link you will land on a webpage that will ask you to select the prizebond denomination (which is Rs.15000 for this draw), and enter your email address. Its simple as that...!

Finance.Kalpoint.com, has long been enjoying the privilege of making the prize bond draws available for its users online within 4 hours of the draw. No other source can make available the online prize bond draw results that quickly....! It's the Brilliance of Finance.KalPoint.Com that makes it possible for you...!

Don't forget to visit us tomorrow to check your Prizebond results...!

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Wednesday July 01, 2009

BAGHDAD: A BP-led group won a deal to develop Iraq's biggest oilfield but had to slash its fee as Baghdad's tough terms put off other investors in the country's first major energy auction since the US-led invasion in 2003. Other companies, including firms from resource-hungry China and India that are eager to get a share of the world's third largest oil reserves, balked at the fees and Iraq failed to strike deals on the remaining seven oil and gas fields on offer.

Tuesday's controversial auction of Iraq's prized assets took place on the same day that the US troops who toppled Saddam Hussein quit Iraq's cities and left security chiefly to the country's own forces. The sale aims to raise funds for reconstruction as Iraq also takes greater charge of its economy. "Today we have seen that the Iraqi Oil Ministry and international oil companies are living on different planets," oil analyst Ruba Husari said.

The results of the auction were not a disappointment, said Oil Ministry spokesman Asim Jihad. "The participation of these well-known, major companies is a good sign and it reflects the desire of these firms to invest in the Iraqi oil sector," Jihad said.

Iraq's Oil Ministry asked companies to submit revised bids at the end of the auction. Seven did, but they were not made public. The bids would be handed to the Iraqi cabinet for a decision, an official close to the process said. The sale was billed as the first chance since Iraq nationalised its oil in 1972 for major foreign companies to get a run at the country's hydrocarbon reserves, much of which are untapped. But many Iraqi critics said it was a bad bargain. Foreign companies servicing the fields will be paid per barrel of oil produced above a certain amount.

(Reuters)

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Wednesday July 01, 2009

ISLAMABAD: The profit rates on National Saving Certificates (NSSs) have been revised downwards from July 1, 2009. According to the Central Directorate of National Saving, the profit rate on Special Saving Certificate would now be 11.62 percent and the profit rate on Revenue Income Certificate would be 12 percent.

The profit rate on Pension and Behbood Certificate has been brought down from 16.10 to 14.16 percent. The profit rate on Saving Certificate has been reduced from 9 percent to 8.5 percent. However, the profit rates on Defence Saving Certificate have been kept unchanged.

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Tuesday June 30, 2009

FAISALABAD: Textile exporters could bring $ 25 billion forex from exports in next two years and 120 billion during next 10 years if they are provided level playing field and productivity conducive consistencies.

This was claimed by Azhar Majeed Sheikh Chairman,Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing Committee on export trade here Monday in post budget proposals to Shaukat Tarin Advisor on Finance.

Major issue pertaining to exports still remains unattended, he said. He demanded exemption of federal excise duty on insurance, banking, port and terminal operations for zero rating purposes. Yet another demand was refund of duty drawback and sales tax at time of negotiation in banks as is case with deduction of income tax. He also demanded payment of pending refund of earlier years and also release of 60% R&D claims.

Azhar Majeed Sheikh demanded offsetting the free access of Bangladesh and other regional Countries to Europe and America through export incentives to local industry.

These constraints have put the exporters in a very difficult cash flow station; he contested and demanded capping of mark up rate on various products to 7.5% and freezing of earlier accumulated mark up for 2years and provision of Rs.40 billion for direct cash support to export industry.

He assured that if irritants are removed, level playing field is provided and export conducive measures are enforced, the exporters would achieve the higher targets for exports.


(APP)

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Monday June 29, 2009

KARACHI: The investment under CFS declined by 34 percent, to Rs 6.6 million during the week ended on June 27, 2009. The CFS rate, however, increased to 50 percent till Thursday, while no significant transaction was witnessed on Friday. The top 5 scrips by CFS investment were NBP, POL, OGDC, UBL and DGKC, which cumulatively accounted for 67 percent of total investment.


(BRecorder)

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Monday June 29, 2009

FRANKFURT: German luxury car maker Daimler launched its first hybrid model last week, almost 10 years after the market leader, Toyota. The world's best-selling limousine, a favourite of world leaders, the Mercedes Benz S Class, is now available in Europe with two motors, one electric and the other petrol (gasoline), to save fuel and cut pollution.

The "CO2 champion of luxury cars," as Mercedes bills it, nonetheless cranks out 186-189 grams of carbon dioxide per kilometre, remaining one of the biggest polluters on the road, well above the European average of around 160 grams.

A comparable S model with a normal engine can spew out as much as 234 grams, Daimler counters. A spokesman added that "we want to launch at least one hybrid model per year."

It is by all accounts a mini revolution in the German auto sector, which generally produces big, powerful cars by brands including Mercedes, Porsche, BMW and Audi.

Porsche plans to roll out a hybrid version of its Cayenne sports utility vehicle in late 2010, and BMW is preparing a saloon (sedan) from its Series 7 line this year, even though it is "too early to speak of full distribution," according to a BMW spokeswoman. Auto expert Gerd Lottspiesen from the environmental association VCD told AFP that the German car industry "has been asleep for several years."

"It repeatedly dismissed hybrids. If it is finally waking up, it's pretty late" compared with Toyota, which sold its first hybrid Prius model in Europe nine years ago. Lexus, the luxury line from Toyota, has offered a hybrid system for four years.

"For years, the German automobile sector did not believe hybrids had a chance ... but at a certain point, under market pressure, the industry changed its mind," said Stefan Bratzel, professor at a specialised auto centre in the western city of Bergisch Gladbach.

German companies mainly focused on diesel engines, the specialists noted. As a result, the German market is dominated by diesels, while hybrids represented only 0.2 percent of the market last year with the sale of 6,500 Toyota, Lexus or Honda hybrids, according to national registration figures.

Since its launch, Toyota has sold 22,000 Prius in France and around 17,000 in Germany, which has a market three times bigger, according to Toyota data.

"The Prius has never been a best-seller here," a spokeswoman for the Japanese group acknowledged. Germans, who are strongly attached to their national brands, could begin to switch over if domestic hybrid models are available however.

"The environmental trend is becoming dominant," said Frank Schwope, an auto analyst at the NordLB bank. Daimler is a good example.

Until now it has been considered one of the most resistant to environmental trends.

But in the past few months, Daimler has begun to highlight its determination in the area. It recently acquired a battery company and a 10 percent stake in the US electric car maker Tesla. A sign for auto specialists that Germans could be at the leading edge of the next big step, fully electric automobiles.


(AFP)

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Monday June 29, 2009

FRANKFURT: The biggest European car maker, Volkswagen, is mulling an investment in Japanese peer Suzuki, the German publication Manager Magazin said on June 25. VW is thinking of buying a 10 percent stake, the magazine said, quoting sources close to the company. But "no talks are in progress yet" and "we are still sniffing around," an unidentified VW director was quoted as saying.

A VW spokesman declined to comment when contacted by AFP. But VW development director Ulrich Hackenberg reportedly looked into the possibility during a trip to Japan a few weeks ago, and came back with a "positive impression," the monthly magazine said.

VW is reportedly interested in Suzuki's penetration of the Indian car market, where the German group lags behind, and by its very small models. In late May, VW said it was mulling a co-operation with the Chinese company BYD to build hybrid or electric cars.


(AFP)

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Monday June 29, 2009

AMMAN: Canada signed with Jordan on Sunday a free trade accord (FTA) that lifts tariffs on the vast majority of its exports as part of a push for greater access to Middle Eastern markets, diplomats and officials said.

"Doors will open up for products that have not been competitive because of tariffs," Canadian Trade Minister Stockwell Day told reporters in Amman after the signing ceremony of the first such accord with an Arab country. Canada already has an FTA treaty with Israel.

Canadian exports, mainly agri-food products, to the region nearly doubled in recent years and topped $64 million in 2008. Imports from Jordan stood at $12.8 million, mainly apparel and agricultural goods.

Jordan was the first Arab country to sign an FTA with Washington and is also a member of the WTO and has an association accord with the EU that paves the way for full lifting of tarrifs and customs. Western firms see the kingdom as a regional hub for wider business access to Iraq and neighbouring countries.


(Reuters)

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