KARACHI (September 03, 2010): Foreign exchange reserves rose to $16.12 billion in the week ending on August 27, from $16.11 billion a week earlier, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) rose to $12.37 billion from $12.35 billion, while those held by commercial banks fell to $3.75 billion from $3.76 billion, said Syed Wasimuddin. the SBP's chief spokesman.

LAHORE (September 03, 2010): Founder Chairman Pakistan USA Business Council Iftikhar Ali Malik has called upon the United States to provide more direct market access to Pakistani .products on zero rate duty to help stabilise the country's bleak economy after recent devastating floods.

LAHORE (September 03, 2010): Punjab Industrial Estate Management Development Company (PIE) is facing financial hardships and has failed for the second time to repay its loan amounting to Rs 1,035 million due on August 31, 2010. Sources told Business Recorder that the company, established in 2003 in pursuance with Punjab government's industrial policy, received loan worth Rs 1,035 million at negligible mark up of 0.25 percent in August 2004 for a period of five years.

LAHORE (September 03, 2010): The PIAF Founders Alliance leaders and candidates for the Associate Class have strongly condemned suicide attacks on mourning rally on the occasion of Hazrar Ali (Razi Allah Tala Anho) martyr day, in which more than 35 people died and near 225 injured, and termed it an attempt to defame to Pakistan.

SIALKOT (September 03, 2010): President Sialkot Chamber of Commerce and Industry (SCCI) Mohammad Ishaq Butt in a press release strongly criticised the unannounced loadshedding in Sialkot. He said that long loadshedding hours have afflicted life especially children and senior people are suffering most.

ISLAMABAD (September 03, 2010): "SMEC was announced the winner of the 2010 BRW ANZ Private Business Award for 'Most Successful Private Business Trading Overseas - Asia' on August 25, 2010. The gala event, held at The Grand Hyatt hotel in Melbourne was attended by Australia's 'Top 500 Private Companies' celebrating the very best of private business in Australia. The BRW ANZ Private Business Awards are the most prestigious annual awards for private businesses in Australia.

LAHORE (September 03, 2010): On the call given by traders' associations, complete shutter-down was observed on Thursday throughout the provincial metropolis to mourn the deaths of 30 persons in three deadly blasts in a religious procession held in connection with Youm-e-Ali near Karbala Gaamey Shah.

KARACHI (September 03, 2010): The Karachi Port handled 62,275 tonnes of cargo including 51,616 tonnes of import cargo, 10,659 tonnes of export cargo, 1,371 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 51,616 tonnes comprised of 8,047 tonnes of containerised cargo; 32,574 tonnes of bulk cargo: 28,500 tonnes of coal; 666 tonnes of MAP; 3,408 tonnes of DAP and 10,995 tonnes of oil/liquid cargo.

KARACHI (September 03, 2010): Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (September 02, 2010).

KARACHI (September 03, 2010): Chief Executive, Guard Group, Iftkhar Ali Malik stressed upon the government to adopt pro-auto industry approach and refrain from spending precious foreign exchange on import of reconditioned cars. He said, in the present distress situation, we should not even think of import of used cars, buses, trucks and tractors. Local industry needs encouragement to generate employment opportunities, which are need of the day.