Board of Directors (BoD), Pakistan Steel Mills, in their meeting on Saturday would demand government to help getting loan of Rs20 billion from banks or provide Rs50 billion for shutting down the corporation, Geo News reported. The meeting of Board of Directors would be held here on Saturday in which five-year plan for the revamping of the organization would come under consideration.

Member Pakistan Cotton Ginners Association and renowned ginner, Rana Saleem said that ginning units in Khanewal are purchasing cotton after getting assurance about withdrawal of withholding tax. Talking to APP, he said the Prime Minister's special assistant, Sardar Ahmed Yar Haraj had assured ginners that government would exempt the ginners from withholding tax. He said that the reduction in purchases was due to the ongoing rainy season. He dispelled …

Asian stocks rose on Tuesday morning thanks to bargain hunting and a positive lead from Wall Street, while Japanese stocks were supported by a stable yen-dollar. Expectations of the imminent defeat of Moamer Kadhafi by rebels in oil-rich Libya also sent crude prices lower. However, while regional equities were in the green investors remain nervous about the state of the global economy, which pushed gold prices to a record above $1,900 an ounce. …

: The gold prices jumped another record historic high of 48,875 by Rs 1843 per 10 grams in the local market on Monday compared to previous day's 47,014 per grams. "The rise in prices of local bullion market is due to international market's volatile situation," said a bullion dealer in the main 'Sarafa bazar' here on Tuesday. According to Karachi Sarafa Association, bullion's tola (11.664 grams) price also escalated by Rs 2,150 to Rs 57,000.

The price of LPG has been increased by Rs 9 per kg. According to the new rate, the price of domestic household cylinder has been changed to Rs. 1348 whereas the price of imported household cylinder has been changed to Rs. 1487, Geo News reported. OGRA issued the notification for the increase in LPG prices. With an increase in Rs. 9, the domestic cylinder's price has been increased by Rs. 108, whereas the price of commercial cylinder has been increased …

SINGAPORE: Gold hit a record high on Wednesday, as investors made a beeline for bullion to shelter from the impact of a deteriorating global economic outlook and Europe's worsening debt crisis. Spot gold rose to an all-time high of $1,671.39 an ounce, hitting its ninth record in 16 trading sessions and up 17 percent so far this year. It was trading at $1,661.89 by 0632 GMT, up 0.2 percent from the previous close. US gold scored a record high at …

A benchmark index for Indian equities markets Tuesday rose in early trade after being battered at the start of the week. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 17,574.37 points, was ruling at 17,576.71 points, up 70.08 points or 0.4 percent from its previous close at 17,506.63 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the green at 5,276.15 points, up 0.35 …

Indian equities markets Monday started the trading week on a very negative note as reports of India resuming talks on a tax treaty with Mauritius triggered a panic selling. Over the weekend, a senior Central Board of Direct Taxes (CBDT) official was quoted as having said that India and Mauritius officials are expected to meet soon to work out the details of the new Double Taxation Avoidance Agreement. India receives over 40 percent of its foreign …

India has sealed its biggest $4.1 billion deal with the US for 10 Boeing C-17 heavy-lift aircraft by signing a formal agreement that envisages delivery of the planes before 2015, government and company officials said Wednesday. “The ministry of defence has signed a letter of offer and acceptance for procurement of 10 C-17 Globemaster III heavy transport aircraft and associated equipment from the US government for the Indian Air Force (IAF) at a …

A benchmark index for Indian equities markets Monday started the week’s trade on a negative note while broader indices were ruling flat. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,242.25 points, was ruling at 18,167.99 points — down 100.55 points or 0.55 percent from its previous close at 18,268.54 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red at 5,452.8 …