Monday 1 August 2011

DAILY BUSINESS NEWS IN BRIEF: 02.08.2011


Business News

Tue, 2 August 2011

- Crude higher in Asian trade
New York's main contract, light sweet crude for September delivery, gained 40 cents to $95.29 a barrel. Brent North Sea crude for deliver

- Furnace oil price revised upward by Rs3000/ton

- POL prices revised upward
The rate of Kerosene oil has been increased to Rs1.97

- Dollar rises against yen after US debt deal


- Asian markets soar on US debt deal
Tokyo jumped 1.84 percent by the break, Hong Kong rose 1.42 percent and Sydney added 1.93 percent, while Seoul gained 1.77 percent

- Crude surges in Asia as US reaches debt deal
"What we are seeing is a relief rally i

- Obama unfurls 11th-hour deal to avert US default
"I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid

- POL prices being revised upward
The rate of Kerosene oil is being increase

- SBP cuts policy rate by 50 basis points
Acting Governor SBP Yasin Anwar while announcing the monetary police for the next two months here said the energy crisis and bad law and order situation adversely affected the growth a

- Unholy price-hikes before holy month bites consumers
KARACHI: The holy month of Ramazan -- the most important month in the Islamic calendar - is around the corner. The Islamic religious literature speaks volumes about the significance of this month. Each year in this month, Muslims commit themselves to the best practices in Islam, share with one another and endeavour to be closer to God the Almighty.

BRIEF NEWS:

Karachi | Fighting the ‘fire’
Mullen pushes Pakistan to move against Haqqani network
PML-N reiterates commitment to independence of judiciary
Govt implemented all court orders: Gilani
25 more killed in Karachi violence

MOHAMMED SALEEM MANSOORI

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