SBP hike heaves CFS rate to 18pc
Increase in the interest rate has pushed the CFS rate to 18 per cent on average from 12 per cent. The rise in CFS rate has had a dampening impact on the trade activities of the stock exchange, said the senior brokers of KSE while talking to private television news channel. The turnover volume dipped to lowest ever 1.111 million shares at Karachi Stock Exchange (KSE) on lack of interest as 100-Index lost 90.89 points to close at 12,036.21, a dealer said more... (FD)
Big increase in urea price
Urea price on Thursday shot up by Rs 70 per 50 kg bag in the domestic market in the wake of recent gas tariffs rise by 31 percent, market sources said. Being an essential input for crops, it is becoming costlier. Analysts say the rise in its prices as a direct impact on growth of different crops across the country more... (BR)
Textiles torn apart by power cuts, fuel hike
Country's textile industry could collapse under the double blow of surging fuel prices and chronic power cuts, industry officials said on Thursday.
Textiles accounts for about 70 per cent of country's exports and the sector contributed 8.5 per cent to gross domestic product in the first eight months of the 2007/08 fiscal year to February more... (FD)