Surge in diesel prices will hamper relief efforts
Posted by GeoNewsBlog.Com on Sep 01, 2010 | Leave a Comment
KARAHCI: Cost of the transportation of relief goods and relocation of flood-affectees to safer places has been feared to go further up due to surge in diesel prices by Rs 1.57 per liter, Geo News reported.
According to details, the Oil and Gas Regulatory Authority (Ogra) changed the prices of petroleum products with effect from September 1st.
The price of diesel has been increased by Rs1.57.
According to a notification...
Australia clocks fastest growth in three years
Posted by GeoNewsBlog.Com on Sep 01, 2010 | Leave a Comment
SYDNEY: Australia’’s economy surged 1.2 percent in the three months to June, the biggest jump in three years, official figures showed on Wednesday, sending share prices and the local dollar sharply higher.
Annual growth clocked 3.3 percent, the Australian Bureau of Statistics said, smashing analyst forecasts of a 2.8 percent rise over the year and 0.9 percent from the March quarter.
“Without a doubt,...
Petrol and diesel prices changed
Posted by GeoNewsBlog.Com on Aug 31, 2010 | Leave a Comment
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) changed the prices of petroleum products with effect from September 1st, Geo News reported Tuesday.
The price of diesel has been increased by Rs1.57.
According to a notification issued by Ogra, the price of petrol was decreased by Rs0.48 per litre to Rs67.26. High octane blending component (HOBC) price went down to Rs79.85, by Rs0.49.
The sale price of kerosene was...
POL prices likely to hike from September
Posted by GeoNewsBlog.Com on Aug 31, 2010 | Leave a Comment
KARACHI: The prices of petroleum products are expected to go up by 60 paisas to Rs1.50 from September 1st, Geo News reported Tuesday.
Talking to Geo News, the sources privy to oil marketing companies said an uptick was witnessed in oil prices in international market during August.
The sources remarked that petrol price is expected to soar by 60 paisa and diesel by Rs1.40.
Oil and Gas Regulatory Authority (OGRA) has hammered...
Asian stocks retreat as Nikkei slides 3.1 percent
Posted by GeoNewsBlog.Com on Aug 31, 2010 | Leave a Comment
BANGKOK: Asian markets sank Tuesday as a strong yen pummeled Japanese shares and pessimism about the U.S. economy intensified.
The losses in Asia came after Wall Street declined on more signs of slowing economic growth that got investors worried ahead of a key report on jobs later this week.
Japan’’s Nikkei 225 stock average led regional declines, down 282.55 points, or 3.1 percent, to 8,866.71.
Dragging on...
Oil turns lower in Asia; stays above $75
Posted by GeoNewsBlog.Com on Aug 31, 2010 | Leave a Comment
SINGAPORE: Oil prices turned lower in Asian trade Monday on profit-taking and as investors realised that the US economic recovery remained weak despite the Federal Reserve chief’’s reassurances, analysts said.
New York’’s main contract, light sweet crude for delivery in October, was down seven cents to 75.10 dollars a barrel, and Brent North Sea crude for delivery in October dipped nine cents...
US crude falls below $74 on economy fears
Posted by GeoNewsBlog.Com on Aug 31, 2010 | Leave a Comment
SINGAPORE: U.S. crude futures fell below $74 on Tuesday, extending losses for a second day, as expectations of higher crude inventories fed fears that a slowdown in global economic growth was hitting demand.
Investors took profit on oil after equities slid on skepticism that governments can boost growth, while the yen clung near a 15-year high against the dollar.
U.S. President Barack Obama’’s Monday remarks...
Index ends down; rupee weaker; o/n rates up
Posted by GeoNewsBlog.Com on Aug 30, 2010 | Leave a Comment
KARACHI: Pakistani stocks ended at a two-and-a-half month low on Monday in dull trade as investors sold on worry about the economic costs of a month of flooding.
Most investors were also on the sidelines as they awaited the outcome of talks between the International Monetary Fund (IMF) and the government, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.86 percent, or 82.29 points, lower...
Asian shares rise as Japan eases monetary policy
Posted by GeoNewsBlog.Com on Aug 30, 2010 | Leave a Comment
TOKYO: Asian stocks markets advanced Monday, with Japan’’s benchmark jumping more than 3 percent after the central bank called an emergency policy board meeting.
The Nikkei 225 stock average surged 274.33 points, or 3.1 percent, to 9,265.39 in the morning session on news of the meeting. The Bank of Japan later announced it would ease monetary policy by expanding a low-interest loan program for financial institutions...
Oil stays near 8-day high on U.S. economy
Posted by GeoNewsBlog.Com on Aug 30, 2010 | Leave a Comment
SINGAPORE: Oil stayed near an eight-day high above $75 on Monday as sustained momentum from Federal Reserve Chairman Ben Bernanke’’s speech last week boosted Asian stock markets.
Japanese shares jumped more than 3 percent while the yen fell as the Bank of Japan held an emergency meeting to curb a rise in the Japanese currency that threatens a fragile economic recovery.
Oil prices also received support from...
IMF looking at all options to assist Pakistan in floods’ challenge
Posted by GeoNewsBlog.Com on Aug 29, 2010 | Leave a Comment
ISLAMABAD: International Monetary Fund (IMF) has said it is assessing Pakistan floods’ impact on the country’s budget, growth and inflation.
According to a private television channel which cited IMF website, in the transcript of a press briefing with Gerry Rice, Deputy Director of the IMF’s External Relations Department, he said that the Fund was looking at all options in terms of how it could assist Pakistan in...
Stocks, rupee flat; o/n rates down
Posted by GeoNewsBlog.Com on Aug 27, 2010 | Leave a Comment
KARACHI: Pakistani stocks ended almost flat on Friday as cautious investors stayed on the sidelines awaiting a clear picture on the economic costs of floods and on talks between the International Monetary Fund and Pakistan.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.10 percent, or 9.34 points, higher at 9,598.71 on turnover of 35.4 million shares.
“With no constructive details on the talks...
FBR mulling to impose 5pc flood-tax
Posted by GeoNewsBlog.Com on Aug 27, 2010 | Leave a Comment
KARACHI: The Federal Board of Revenue (FBR) was mulling to impose a five percent surcharge to cope with the damages incurred by floods, FBR spokesman Israr Rauf told Geo News.
Rs 138 billion were expected to be generated via this duty.
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Oil prices slip below $73 in Asian trade
Posted by GeoNewsBlog.Com on Aug 27, 2010 | Leave a Comment
SINGAPORE: Oil prices dipped below 73 dollars in Asian trade Friday as concerns over weak US economic data pervaded crude markets, analysts said.
New York’’s main contract, light sweet crude for October delivery, fell 37 cents to 72.99 dollars per barrel.
Brent North Sea crude for delivery in October shed 33 cents to 74.69 dollars.
Crude prices reversed gains made late Thursday as weak data from the...
IMF exploring ”all options” to help flood-hit Pakistan
Posted by GeoNewsBlog.Com on Aug 26, 2010 | Leave a Comment
WASHINGTON: The IMF said Thursday it was “exploring all options” to help flood-battered Pakistan as the country sought to ease terms of a nearly 11-billion-dollar loan.
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