With political turmoil in Egypt pushing up global oil prices, Finance Minister Pranab Mukherjee Tuesday hinted at keeping a status quo on the prices of petrol and diesel, saying the government will “manage” the current volatility in crude prices. “Unfortunately, developments in the Middle East and its impact on the Arab world is causing uncertainty [...]
Posts Tagged ‘prices’
Will manage fluctuating oil prices: Pranab
Singapore 4Q private property prices rise 2.7% vs 2.9% in 3Q
The fourth-quarter data is in line with the initial estimates published earlier this month.
STI off 0.3%; prices in no man’s land – Phillip Securities
Jackson Doctor Pleads Not Guilty; Wonder Woman Cosmetics; McDonalds Raises Prices & More Evening Crunch Crumbs
-Cute Overload! Meet the uber-adorable starting lineup for the seventh annual Puppy Bowl (It’s only like the Miss America of The Canine Circuit! Try to keep up, yall.) -Nas is broker than skiier’s left leg… -Dr. Conrad Murray pleads “Not Guilty” to manslaughter charges in the Michael Jackson case… -R.I.P. to Kanye’s Fatburger! -A Sacramento [...]
CPO prices to stay firm; UOB likes mid cap plays
The house says this is due to a lack of moisture after less-than-normal monsoon rainfall, while oil palm trees look stressed. It expects 2011 new add from Malaysia of 600,000-700,000 tons vs 800,000 tons earlier.
Quantitative Easing Is Causing Food Prices to Skyrocket
As I’ve previously noted, interest rates have risen both times after the Fed implemented quantitative easing.Graham Summers points out that food prices have also skyrocketed both times:In case you’ve missed it, food riots are spreading throughout the…
Food prices: The consequences of costly nosh
What record food prices mean for business
HIGH prices are good for farmers. Low prices are good for consumers. “And we are in the middle,” says Alberto Weisser, the boss of Bunge, a trader of agricultural commodities. After poor harvests in Russia, Canada and Ukraine last year, a recent heatwave in Argentina and floods in Australia that wiped out much of the country’s wheat crop, everyone is grappling with pricey food.
According to the UN’s Food and Agriculture Organisation (FAO), food prices last month surpassed their previous high in 2008. “The situation is not rosy, but there is no reason for panic-buying,” says Abdolreza Abbassian at the FAO. …
Singapore plans more housing curbs as prices rise to record
Singapore will raise down payment requirements for second mortgages and extend the period homeowners must hold properties to avoid a sales tax as it steps up efforts to curb speculation after prices rose to a record.
Individuals with more than one mortgage can only borrow up to 60% of a property’s value, down from 70%, the government said in a statement yesterday. On loans to entities other than individuals it will be reduced to 50% from 60%. Sellers will now have to pay a stamp duty for all homes and land sold within four years of purchase, from three years.
Singapore imposes more housing curbs as prices rise to record
Singapore will raise down payments for second mortgages and extend holding periods for properties starting tomorrow after home prices rose to a record last quarter, intensifying the nation’s efforts to curb speculation.
Individuals who hold more than one mortgage can only borrow up to 60% of a property’s value, versus 70% previously, the government said in a statement today, while loans to entities other individuals will be cut to 50% from 60%. A seller’s stamp duty will apply to all residential units and land sold within four years of purchase, from three years now.
Government agonises on ways to curb rising prices
Consultations among senior ministers of the government on how to curb rising food prices continue Wednesday as a follow-up to the meeting chaired by Prime Minister Manmohan Singh on the issue. That meeting ended with a few measures suggested, but none were announced. “Ministers will hold more meetings today on the issue,” an official in [...]
CPO prices to stay strong; look at IndoAgri – DBSV
Fiscal consolidation vital to tame prices: Mukherjee
Economic expansion and high fiscal deficit are together leading to unstable price regime and the government needs to revert to fiscal consolidation to control the situation, Finance Minister Pranab Mukherjee said Saturday. “Economic expansion leads to fiscal deficit. It is leading to the problem of unstable price regime,” Mukherjee told the 9th Pravasi Bharatiya Divas [...]
POL prices hike rolled back
ISLAMABAD – With the consensus of all parliamentary parties, Prime Minister Yousuf Raza Gilani Thursday announced to withdraw the recent hike in the prices of petroleum (POL) products.
“On the demand of the people and political leadership of the country, I announce to restore the POL prices as of December 31, 2010. The decision is taken with the consensus of all the parliamentary parties. It was impossible if there was no consensus,” the premier said while speaking during the National Assembly session.
The government had raised fuel prices by as much as 9 per cent on the eve of New Year. Days later, the second-largest ruling coalition – Muttahida Qaumi Movement – cited the price hike as a reason for joining the opposition. The defection deprived the ruling Pakistan PeopleÂ’s Party of a majority in the Parliament, plunging the country into political turmoil at a time of severe economic troubles and relentless militant attacks.
The rollback was also one of the PML-NÂ’s several demands presented to Prime Minister Gilani. PML-N chief Nawaz Sharif also wanted a 30 per cent cut in the government expenditure and the implementation of a series of court verdicts against the PPP members over corruption. In his speech, the prime minister said before announcing the withdrawal, he met with the parliamentary leaders of all the parties where Finance Minister Hafeez Shaikh and his team briefed them on the recent economic situation of the country.
“During the meeting, we reached a consensus that the recent hike in POL prices should be withdrawn and the new prices should be as of December 31,” the prime minister told the Lower House.
He informed the House that during the meeting, it was decided that a parliamentary committee comprising all the political partiesÂ’ members would be constituted that would not only devise a strategy to handle the influence of fluctuating prices of petroleum products in the international market but would also draw an economic road map for the country.
Later, leader of the opposition in the National Assembly Ch Nisar Ali Khan lauded the decision of the Prime Minister to withdraw the recent increase in the POL prices. “It was a demand of the people of Pakistan and today the Prime Minister has bowed in submission of people which is a good tradition”, Nisar said while adding that the act would give a message that the Parliament was serious in resolving the problems of the people. He said that another problem being faced by the people was the gas loadshedding and the government should also take steps in that direction.
Commenting on the murder of the Punjab Governor Salmaan Taseer, Nisar said it was a gory incident but some federal ministers were terming it a political killing even when the inquiry report was still pending.
He said that the ministers should avoid giving such statements when the society had already divided on this incident.
“If some body wants to get the slot of Governor Punjab then he should use any other pitch. Stop making statements like ‘Ranjit Singh’ or ‘Maula Jatt’. Providing security to Taseer was the responsibility of Islamabad police as he was in the Capital. Inquiry committees are working on it and let them complete their investigation, he said. If someone found involved, action would be taken against him”, Nisar said.
He told that Chief Minister Mian Shahbaz Sharif was willing to attend the funeral prayer of Taseer but Senior Minister Raja Riaz urged him not to come to avert any untoward situation, as number of PPP workers were in anger after such statements. Chief of Awami National Party Asfandyar Wali Khan thanked the Prime Minister and the parliamentary leaders of all the political parties for sitting with the PM on his advice to settle the issue of price hike in POL products.
“It is a bold step and also a proof that we can collectively solve the issues of people. Deputy Parliamentary Leader of MQM Haider Abbas Rizvi while congratulating the parliamentarians and people of Pakistan tanked the Prime Minister and termed it a bold step. It is difficult to undo his own decision but we are thankful to PM Gilani who reviewed his decision,” Rizvi added. He also urged the PM to review the prices of LNG and CNG too. Talking about the briefing of the Finance Minister to the parliamentary leaders Rizvi said that Finance Minister told them that the government had a plan to give subsidy of Rs30 billion to people on electricity but “till now it has given the subsidy of Rs156 billion.”
Maulana Ataur Rehman of JUI-F also welcomed the decision and congratulated the Parliament and people of Pakistan on the decision of Supreme Court of Pakistan ordering Ministry of Religious Affairs to pay back 700 riyals to each Haji. Talking about the murder of Punjab governor, he said his party had been requesting the govt not to touch the issue of amending blasphemy law but the govt and the governor did not pay heed to it and neglected their demand.
“The inquiry is still in way; however, if we take the statement of killer accurate the fault was of the governor,” he added.
He demanded of the govt to dissolve the committee formed to introduce amendments into the law and to withdraw the bill of Sherry Rehman. “If the government touches such sensitive laws then such incidents can again happen. The govt is responsible not the young generation. However JUI-F respects the law and the religious parties never take law into their hands,” Ataur Rehman said. Riaz Hussain Pirzada also congratulated the House and people for the withdrawal of hike in POL prices. Talking about the murder of Salmaan Taseer he said that it was not on the ground of religion. Such steps are taken after proper planning. There would be a network behind it, he added.
Meanwhile, the House also offered fateha for the departed soul of Governor Salmaan Taseer. Earlier, the parliamentary leaders of political parties met with Prime Minister Syed Yousuf Raza to discuss the hike in POL prices.
Finance Minister Abdul Hafiz Sheikh briefed the Parliamentary leaders on the economic situation of the country and recent hike of the POL products. The meeting decided to withdraw the increase in POL prices and to form a parliamentary committee to draw an economic road map for the country.
Onion prices may soar as Pakistan bans export via border
Onion woes are likely to continue in India with Pakistan deciding to stop sending the commodity through the Attari-Wagah border check-post and also cutting down on the quantity due to a shortage in that country, an official said. According to a communication received from Pakistan’s commerce ministry, onions will not come through the land route [...]
Belgrade airport lowers prices
Nikola Tesla International Airport has lowered the prices of its services which could reduce plane ticket prices by EUR 100.
The Belgrade airport has reduced prices of its services for all types of planes and all air carriers by seven percent.
Belgrade airport lowers prices
Nikola Tesla International Airport has lowered the prices of its services which could reduce plane ticket prices by EUR 100.
The Belgrade airport has reduced prices of its services for all types of planes and all air carriers by seven percent.



