Oil prices lower despite OPEC decision, falling US stocks

Agence France Presse

LONDON: Oil prices eased this week despite OPEC's decision to hold output levels and news of plunging crude reserves in the United States.

KSE recovers 22 points after violent protests

Zafar Ahmad

KARACHI: The Karachi Share Market, at last, had a sigh of relief as it mounted on recovery drive on Friday after four-week continuous faltering in which it lost over 2000 points. The market regained only 21.86 points.

Asian stocks close mostly down despite US rally, lower oil

Agence France Presse

HONG KONG: Asian shares closed mostly down Friday as bargain hunters retreated despite sharply lower oil prices and a Wall Street surge, with high inflation and US economic woe looming large.

Another sugar crisis looming in country

Commerce Reporter

LAHORE: High rise in sugar prices upset the consumers, while a surging trend was seen in the rates of fruits and vegetables in the city markets here Friday.

Moderate trading in cotton market

Commerce Reporter

KARACHI: Moderate trading continued in cotton market.

EXCHANGE RATES | Rupee recovers against major currencies

Commerce Reporter

LAHORE: Local currency staged strong recovery against major currencies including dollar, euro, pound sterling and Australian dollar in open markets here on Friday trading session.

Oil prices rebound above $131

Associated Press

LONDON: Oil prices rose above $131 a barrel Friday as news of an output cut in Nigeria helped to halt the sharp decline in prices that began three days ago.

Inflation up by 0.89 percent during last week

Commerce Reporter

ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on July 17, for the lowest income group up to Rs 3,000 has registered an increase of 0.89 percent over the previous week.

Eurozone imports outweighed exports in May

Associated Press

BRUSSELS: The 15 nations that shared the euro bought more foreign goods than they sold in May as a strong euro undermined exports and high oil prices inflated imports, according to figures from the EU statistical agency Eurostat released Friday.

EU ministers huddle on strategy ahead of key WTO talks

Associated Press of Pakistan

BRUSSELS: EU Trade Commissioner Peter Mandelson was huddled in strategy talks with EU ministers on Friday to reinforce a united stance ahead of crucial world trade talks in Geneva next week.

China loses WTO car parts case against US

AFP

GENEVA: The World Trade Organisation on Friday said it had ruled against China in a complaint brought by the United States over Chinese import tariffs on car parts.

APSEA hails govt’s decision for issuing SRO-701 (I)

Our Correspondent

MULTAN: All Pakistan Solvent Extractors Association (APSEA) Chairman Shahzad Ali Khan has said that APSEA hailed the SRO-701 (I) 2008 and amended the SRO. 647 and issuance of a fresh SRO-713 (I) 2008 which will help strengthen this sector and meeting their outstanding demands.

Intel celebrates 40 years of innovation

Commerce Reporter

ISLAMABAD: Intel Corporation celebrated a milestone anniversary on Friday by looking 40 years in the past and 40 years into the future.

Gold up by Rs 65 per 10-gram

Commerce Reporter

LAHORE: Increasing trend was seen in the rates of precious metal in local gold markets here on Friday trading session while the similar drive was observed in the rates of pure gold in the international gold market.

Britney agrees to hand over kids to K-Fed

WP Club and Diya WFC Club players compete during a tie of the 1st Inter-club Women’s Football Championship 2008