Monday, 8 August 2011

DAILY BUSINESS NEWS IN BRIEF: 09.08.2011


Pakistani army reviews Karachi situation
ISLAMABAD – Army commanders August 8 reviewed the law-and-order situation in Karachi and expressed concern, Geo News reported, quoting Inter-Services Public Relations (ISPR).

Army Chief Gen. Ashfaq Parvez Kayani headed the corps commanders’ conference in Rawalpindi during which conferees discussed military operations in Kurram and Mohmand agencies and the internal security situation, media reported.

The corps commanders noted the Karachi situation would slow the economy, according to ISPR. The military leaders expressed hope the government’s recent measures in Karachi would security there, media added.



BRIEF NEWS:
 Massive surge in laod shedding likely as IPPs face cash crunch
 Military ‘concerned’ over Karachi unrest
 PML-N wants commission on new provinces
 Karachi will be de-weaponised in phases. Rehman Malik
 Zardari calls PPP Punjab Parliamentary meeting today
 Hyderrabad/Shuttered
hops are closed during a strike called by Jeay Sindh Tehreek and Awami Tehreek, on Monday. Complete shutter-down strike was observed in almost all cities and towns of Sindh against restoration of the Sindh Local Government Ordinance 2001 in Karachi and Hyderabad and later rest parts of Sindh.
Business News

Tue, 9 August 2011 01:02:00 +0000

- Dow plummets 4.5 percent, sinks below 11,000
The broader S&P 500 lost 5.5 percent, while the tech-heavy Nasdaq Composite plunged 5.7 percent in the sell-off, triggered by Standard & Poor's downgrade of the

- Gold hits new record at Rs 54,850 per tola
All Sindh Jewellers Association president Haji Haroon Rasheed Chand talking to Geo News cited international gold price hitting over $1,700 an ounce Monday as the main reason behind the fueling of local gold price.

- KSE flat as investors observe caution
The Karachi Stock Exchange's benchmark 100-shareindex closed 0.4 percent, or 4.96 points, higher at 11,380.05 on turnover of 106.74 million shares.

- Dollar weighed by downgrade of US credit rating
The dol

- Gold strikes record high above $1,700
"People are just taking their money out [of other markets], especiall

- Asian stocks slide after US debt downgrade
They also foll

- rices sharply lower in Asian trade
At 0200 GMT, New York's main contract -- light sweet crude for September delivery -- was down $2.34, or 2.69 percent, to $84.54 a barrel, from its closing price on Friday

- 13.55pc hike in gas prices notified
After the hike the new gas price would be Rs 63.11 in Sindh and Punjab, which was earlier Rs 56.70. And in Potohar, Balochistan and Khyber Pakhtunkwa the price has been raised to 6

- Govt approves 13.5pc raise in gas tariff
Talking to 'Geo', Acting Chairman OGRA Manzoor Zaffar informed that the government has approved the summery to raise 13.5 percent in gas tariff. The summery has not reached to OGRA, he said and added that as soon as the summery is received,

- US loses AAA credit rating for first time
S&P cut the US rating from its top-flight triple-A one notch to AA+, and added a negative outlook to it, saying there was a chance


Mohammed Saleem Mansoori

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