News Archives for Print - 2008-04-16

Activity at Karachi and Qasim ports

The Karachi Port handled 127,130 tonnes cargo including 97,208 tonnes import, 29,922 tonnes export cargo and 4,093 containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday.

Published 16 Apr, 2008 12:00am

Dar holds talks with officials of rating agencies

Finance Minister Ishaq Dar wound up his hectic five-day visit to the United States, after in-depth discussions with senior officials of rating agencies - the Standard & Poor and the Moody''s - on Monday. A Pakistan Mission press release said that they exc

Published 16 Apr, 2008 12:00am

Ukraine may extend sunoil export quotas

Ukraine is considering extending sunflower oil export quotas to September 1 from July 1 and an increase in the volume to 500,000 tonnes from 300,000, a newspaper said on Tuesday. Ekonomicheskiye Izvestiya daily said the quotas, yet to be distributed, had

Published 16 Apr, 2008 12:00am

Dar holds talks with officials of rating agencies

Finance Minister Ishaq Dar wound up his hectic five-day visit to the United States, after in-depth discussions with senior officials of rating agencies - the Standard & Poor and the Moody's - on Monday. A Pakistan Mission press release said that they exch

Published 16 Apr, 2008 12:00am

FOB Gulf soya offers rise sharply; corn steady

US FOB Gulf soyabean basis offers rose sharply on Monday amid an unseasonal surge in export demand and tight supplies in both export and domestic markets, traders said. Corn export premiums held mostly steady.

Published 16 Apr, 2008 12:00am

Dar holds talks with officials of rating agencies

Finance Minister Ishaq Dar wound up his hectic five-day visit to the United States, after in-depth discussions with senior officials of rating agencies - the Standard & Poor and the Moody's - on Monday. A Pakistan Mission press release said that they exch

Published 16 Apr, 2008 12:00am

Latam problems keep US soya exports high: Oil World

US soyaoil exports are likely to remain high in coming weeks as problems hit rival South American suppliers, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. "Although the Argentine farm strike has been interrupted for 30 days, Argentine exp

Published 16 Apr, 2008 12:00am

Appointments in top positions: Cabinet Division changed rules to protect Soomro

The Cabinet Division has changed the rules to protect erstwhile caretaker prime minister, Mohammedmian Soomro's appointments on the public sector oil and gas companies' top positions and boards of directors.

Published 16 Apr, 2008 12:00am

US Midwest soyabean and corn bids mostly steady

Spot basis bids for soyabeans and corn were mostly steady at processors and elevators around the interior US Midwest on Monday, grain dealers said. Cash bids for both corn and soyabeans showed some weakness along the upper Mississippi River.

Published 16 Apr, 2008 12:00am

Appointments in top positions: Cabinet Division changed rules to protect Soomro

The Cabinet Division has changed the rules to protect erstwhile caretaker prime minister, Mohammedmian Soomro's appointments on the public sector oil and gas companies' top positions and boards of directors.

Published 16 Apr, 2008 12:00am

KCBT wheat futures lower

Hard red winter wheat futures on the Kansas City Board of Trade declined Monday on technical weakness and spillover pressure from a limit drop in the Minneapolis spring wheat market, traders said. Minneapolis Grain Exchange futures tumbled on a softening

Published 16 Apr, 2008 12:00am

PML-N doors open for MQM if it mends attitude: Tehmina

Federal Minister for Science and Technology and PML-N leader Tehmina Daultana said the doors are open for Muttahida Qaumi Movement (MQM), if it mends its attitude. Addressing a function in Lahore, Tehmina said that all the coalition partners wanted restor

Published 16 Apr, 2008 12:00am

Thin business in cotton market

Thin business was seen on the cotton market on Tuesday as mills were interested in new purchasing but the ginners were on the sidelines in anticipation of further rise in the prices, some brokers said.

Published 16 Apr, 2008 12:00am

Mahmud Durrani made security advisor to Prime Minister

Mahmud Ali Durrani has been appointed as Advisor to the Prime Minister on National Security with the status of the federal minister, says a notification issued by the Cabinet Division here on Tuesday.

Published 16 Apr, 2008 12:00am

China buys more soyabean and soyaoil to boost reserves

China last week purchased 150,000 tonnes of soyaoil and 300,000 tonnes of soyabeans for state reserves, and could buy even more if prices are favourable, sources familiar with government purchases said on Tuesday. The purchases were in addition to earlier

Published 16 Apr, 2008 12:00am

Mahmud Durrani made security advisor to Prime Minister

Mahmud Ali Durrani has been appointed as Advisor to the Prime Minister on National Security with the status of the federal minister, says a notification issued by the Cabinet Division here on Tuesday.

Published 16 Apr, 2008 12:00am

Grain market closed

The Karachi Grain and Seeds Merchant Group reported that market remained closed due to death of one of its member. The Market will resume trade on Wednesday.

Published 16 Apr, 2008 12:00am

Reinstatement of judges: Zardari and Nawaz reaffirm pledge

Heads of two major parties in the ruling coalition on Tuesday reaffirmed pledge to reinstate deposed judges according to their Bhurban Declaration but failed to give a firm date.

Published 16 Apr, 2008 12:00am

High exports cut Canadian canola stocks: Oil World

High exports mean Canada's end March 2008 canola stocks were likely to have fallen by about one million tonnes on the year to a four-year-low of 3.75 million tonnes, Hamburg-based oilseeds analysts Oil World estimated on Tuesday.

Published 16 Apr, 2008 12:00am

Reinstatement of judges: Zardari and Nawaz reaffirm pledge

Heads of two major parties in the ruling coalition on Tuesday reaffirmed pledge to reinstate deposed judges according to their Bhurban Declaration but failed to give a firm date.

Published 16 Apr, 2008 12:00am

Japan offers to buy US wheat

Japan's Agriculture Ministry said on Tuesday it has offered to buy a combined 88,000 tonnes of wheat from the United States, Canada and Australia through a regular weekly tender closing on Thursday. All shipments are scheduled for June.

Published 16 Apr, 2008 12:00am

President summons Senate session on April 25

President Pervez Musharraf has summoned the Senate to meet on April 25 for the first session since the swearing-in of new government last month. According to a statement by the secretariat, the president called the meeting by using powers under clause (1)

Published 16 Apr, 2008 12:00am

MGE spring wheat futures down

Nearby spring wheat futures contracts on the Minneapolis Grain Exchange fell the 60-cent limit past midday on Monday, pressured by bear-spreading and a softening cash market for spring wheat, traders said. The May/July spread was trading at an inverse of

Published 16 Apr, 2008 12:00am

No big dam at cost of federation: minister

Federal Minister for Water and Power Raja Pervez Ashraf said on Tuesday that no work on mega power project like Kalabagh dam would be initiated at the cost of the federation. Addressing a press conference, he said that work on the construction of Bhasha d

Published 16 Apr, 2008 12:00am

Yemen signs oil contracts in seven blocks

Yemen has signed oil production sharing agreements with 10 oil companies in seven exploration areas, state news agency Saba reported. Yemen plans to raise its oil output to around 500,000 barrels per day (bpd) in 2010 with these and other deals with inter

Published 16 Apr, 2008 12:00am

No big dam at cost of federation: minister

Federal Minister for Water and Power Raja Pervez Ashraf said on Tuesday that no work on mega power project like Kalabagh dam would be initiated at the cost of the federation. Addressing a press conference, he said that work on the construction of Bhasha d

Published 16 Apr, 2008 12:00am

New York coffee settles quietly higher

Arabica coffee futures trading on ICE settled up a shade Monday, in a sleepy session supported by short-term investors and the weak dollar, traders said."A lot of people are waiting to see when and if the spread will break and move wider, it's still unusu

Published 16 Apr, 2008 12:00am

No big dam at cost of federation: minister

Federal Minister for Water and Power Raja Pervez Ashraf said on Tuesday that no work on mega power project like Kalabagh dam would be initiated at the cost of the federation. Addressing a press conference, he said that work on the construction of Bhasha d

Published 16 Apr, 2008 12:00am

Argentina extends freeze on new wheat exports

Argentina has effectively extended the closure of its wheat export registry by pushing back the date that new shipments can start to leave the country, traders said on Monday. Argentina is the world's No 4 wheat exporter, but the government has restricted

Published 16 Apr, 2008 12:00am

Olympic torch arrives in capital amid security fears

The Olympic torch, symbol of the 2008 Games in Beijing, touched down in Islamabad amid heavy security early Wednesday on the first stop in its Asian leg of a world tour. The flame arrived from Oman for what Pakistan's pro-China government hopes will be a

Published 16 Apr, 2008 12:00am

New York cocoa settles unchanged

US cocoa futures settled flat on Monday, below a fresh 4-week high on continued May/July spreading while good crop conditions in top grower Ivory Coast provided some pressure and manufacturers bought the dips, traders said.

Published 16 Apr, 2008 12:00am

Olympic torch arrives in capital amid security fears

The Olympic torch, symbol of the 2008 Games in Beijing, touched down in Islamabad amid heavy security early Wednesday on the first stop in its Asian leg of a world tour. The flame arrived from Oman for what Pakistan's pro-China government hopes will be a

Published 16 Apr, 2008 12:00am

Sugar may be 28-30 cents in two years

A senior Morgan Stanley agricultural commodities trader said on Friday raw sugar prices could more than double to 28-30 cents a lb within two years. Jean Bourlot, a London-based managing director and head of agricultural trading, told Reuters.

Published 16 Apr, 2008 12:00am

Pope arrives in US

Pope Benedict arrived in Washington on Tuesday for his first papal visit to the United States due to include a United Nations address and discussions about a sexual abuse scandal that left him "deeply ashamed."

Published 16 Apr, 2008 12:00am

Abundant rains help Ivory Coast cocoa mid-crop

Abundant rain and hot spells in Ivory Coast's main cocoa growing regions over the past week bode well for the development of the April-September mid crop, farmers and analysts in the world's top grower said on Monday.

Published 16 Apr, 2008 12:00am

Pope arrives in US

Pope Benedict arrived in Washington on Tuesday for his first papal visit to the United States due to include a United Nations address and discussions about a sexual abuse scandal that left him "deeply ashamed."

Published 16 Apr, 2008 12:00am

Malaysian tin up

Malaysian tin rose sharply on Tuesday, despite an unchanged price on the London Metal Exchange, because dealers offered only a small amount of the metal at the opening, one dealer said.

Published 16 Apr, 2008 12:00am

Oil products prices notification delayed

The government on Tuesday delayed notification for oil products prices for next fortnight by one day as Finance Minister Ishaq Dar was not available for final decision on the issue. The minister was supposed to return to Islamabad from Washington on Tuesd

Published 16 Apr, 2008 12:00am

Indonesia plans to restrict tin production

Indonesia may introduce new restrictions on tin production in order to secure future supplies and reduce environmental damage in the main tin-mining areas, a senior mining official said on Tuesday.

Published 16 Apr, 2008 12:00am

Oil products prices notification delayed

The government on Tuesday delayed notification for oil products prices for next fortnight by one day as Finance Minister Ishaq Dar was not available for final decision on the issue. The minister was supposed to return to Islamabad from Washington on Tuesd

Published 16 Apr, 2008 12:00am

US copper down

US copper futures at the New York Mercantile Exchange's COMEX division ended down but away from their session lows on Monday, as concerns about the metal's demand outlook spurred some profit-taking losses, analysts said.

Published 16 Apr, 2008 12:00am

Oil products prices notification delayed

The government on Tuesday delayed notification for oil products prices for next fortnight by one day as Finance Minister Ishaq Dar was not available for final decision on the issue. The minister was supposed to return to Islamabad from Washington on Tuesd

Published 16 Apr, 2008 12:00am

US gold up on oil gains

US gold futures climbed on the Comex division of the New York Mercantile Exchange on rising oil prices and a lower dollar, and dealers said bullion's upward trend remained intact.

Published 16 Apr, 2008 12:00am

Dumpers'' age limit may be restricted for import

The government may restrict age limit of 10 years on the import of ''dumpers for off-highway use'' under the Import Policy Order in the 2008-09 budget. Sources told Business Recorder on Tuesday that an anomaly has been detected in Para-6 of the Imp

Published 16 Apr, 2008 12:00am

Gold rises in Asia

Gold extended gains and rose 1 percent on Tuesday as record oil prices and recent falls in the dollar encouraged some investors to put their money back into the precious metal. But gains could be limited as gold has yet to retest the key resistance mark o

Published 16 Apr, 2008 12:00am

Dumpers' age limit may be restricted for import

The government may restrict age limit of 10 years on the import of 'dumpers for off-highway use' under the Import Policy Order in the 2008-09 budget. Sources told Business Recorder on Tuesday that an anomaly has been detected in Para-6 of the Impor

Published 16 Apr, 2008 12:00am

Manila eyes 500,000 tonnes of rice tender in May

The Philippines is planning to hold a tender for around half a million tonnes of rice in May, the second in as many months, as it seeks to secure its 2008 requirements ahead of a traditional third quarter lean period. "We are working on a tender for May,"

Published 16 Apr, 2008 12:00am

Dumpers' age limit may be restricted for import

The government may restrict age limit of 10 years on the import of 'dumpers for off-highway use' under the Import Policy Order in the 2008-09 budget. Sources told Business Recorder on Tuesday that an anomaly has been detected in Para-6 of the Impor

Published 16 Apr, 2008 12:00am

Indonesia to curb rice exports to combat inflation

Indonesia, Southeast Asia's largest rice consumer, will curb medium-grade rice exports in an effort to combat inflation, the trade minister said on Tuesday, threatening to heighten world fears over stable food supplies.

Published 16 Apr, 2008 12:00am

Pemra chairman's powers likely to be curtailed

The federal government is likely to curtail the powers of Chairman Pakistan Electronic Media Regulatory Authority (Pemra) regarding seizing the equipment, sealing premises without notice or directing closure of the television station in case of violation

Published 16 Apr, 2008 12:00am

Kazakhstan bans wheat exports

Kazakhstan, Central Asia's largest grain exporter, suspended wheat exports on Tuesday to protect the domestic market following global price rises. Rising grain prices have contributed to a rise in Kazakhstan's inflation, which hit 18.8 percent last year a

Published 16 Apr, 2008 12:00am

Pemra chairman's powers likely to be curtailed

The federal government is likely to curtail the powers of Chairman Pakistan Electronic Media Regulatory Authority (Pemra) regarding seizing the equipment, sealing premises without notice or directing closure of the television station in case of violation

Published 16 Apr, 2008 12:00am

Indian state floats 180,000 tonnes of wheat tender

An Indian state has issued a tender to buy 180,000 tonnes of wheat from local or foreign suppliers to boost stocks, a government source said on Tuesday. The government is keen to boost grain supplies as rising food prices have helped push Indian inflation

Published 16 Apr, 2008 12:00am

President returns home

President Pervez Musharraf at the conclusion of his six-day state visit to China returned home on Tuesday night. The President was received at the Chaklala Airbase by Prime Minister Syed Yousuf Raza Gilani, Chairman Senate Muhammadmian Soomro, Chairman Jo

Published 16 Apr, 2008 12:00am

Oil hits record on supply disruptions

Oil futures advanced to all-time peaks on Tuesday, supported by supply disruptions and speculation that the dollar may continue to trend lower. US light crude for May delivery rose 39 cents to $112.15 a barrel at 0634 GMT, after touching $112.48 a barrel,

Published 16 Apr, 2008 12:00am

President returns home

President Pervez Musharraf at the conclusion of his six-day state visit to China returned home on Tuesday night. The President was received at the Chaklala Airbase by Prime Minister Syed Yousuf Raza Gilani, Chairman Senate Muhammadmian Soomro, Chairman Jo

Published 16 Apr, 2008 12:00am

US rice futures rally 50-cent limit in nearbys

US rough rice futures on the Chicago Board of Trade rose the 50-cent limit on Monday on worries about tight global rice supplies, strong demand and the rally in CBOT corn and soy, traders said. The front two months closed locked limit up. May rice settled

Published 16 Apr, 2008 12:00am

Movement of wheat and flour banned: Punjab government takes steps

On the start of wheat procurement campaign, the Punjab government has banned movement of wheat and flour out of the province from April 15 to June 30.

Published 16 Apr, 2008 12:00am

New York sugar up in switch trade

Raw sugar futures settled firmer on Monday on mostly switch business as investors gradually moved positions out of the spot contract before its expiration at the end of the month, brokers said. The May sugar contract rose 0.03 cent to end at 12.37 cents p

Published 16 Apr, 2008 12:00am

Movement of wheat and flour banned: Punjab government takes steps

On the start of wheat procurement campaign, the Punjab government has banned movement of wheat and flour out of the province from April 15 to June 30.

Published 16 Apr, 2008 12:00am

Soyabean futures higher

Chicago Board of Trade (CBoT) grains and soy complex closing trends on Monday. May down 1/2 cent at $8.96 per bushel, new-crop July unchanged at $9.10-1/2. Came off highs as Minneapolis slid on bear spreading and recent weakness in spring cash markets. Fu

Published 16 Apr, 2008 12:00am

Movement of wheat and flour banned: Punjab government takes steps

On the start of wheat procurement campaign, the Punjab government has banned movement of wheat and flour out of the province from April 15 to June 30.

Published 16 Apr, 2008 12:00am

Indian soyoil futures rise

Indian soyoil futures rose on Tuesday tracking rival palm oil in Malaysia, and driven up by concerns of a supply squeeze following a lower than expected US soybean crush in March. At 4:15 pm (1045 GMT), the April contract on the National Commodity and Der

Published 16 Apr, 2008 12:00am

PBA, banks to discuss CCP judgement today

The top representatives of Pakistan Banks Association (PBA) and presidents of all the banks will meet on Wednesday to discuss the situation arising out of the judgement of Competition Commission of Pakistan (CCP).

Published 16 Apr, 2008 12:00am

Indonesian palm oil gains

Indonesian palm oil prices extended gains on Tuesday as Malaysian crude palm oil futures hit a three-week high and local demand remained strong. The state marketing centre in Jakarta sold crude palm oil at 9,822 rupiah ($1.07) a kg, up from 9,425 rupiah o

Published 16 Apr, 2008 12:00am

PBA, banks to discuss CCP judgement today

The top representatives of Pakistan Banks Association (PBA) and presidents of all the banks will meet on Wednesday to discuss the situation arising out of the judgement of Competition Commission of Pakistan (CCP).

Published 16 Apr, 2008 12:00am

Malaysian palm oil rises

Malaysian palm oil futures rose more than 2 percent to a three-week high on Tuesday, supported by rising enquiries from Indian and Chinese importers, traders and analysts said. Palm oil, which has gained more than 16 percent this month, is expected to str

Published 16 Apr, 2008 12:00am

PBA, banks to discuss CCP judgement today

The top representatives of Pakistan Banks Association (PBA) and presidents of all the banks will meet on Wednesday to discuss the situation arising out of the judgement of Competition Commission of Pakistan (CCP).

Published 16 Apr, 2008 12:00am

Euro rate may eventually harm economy: Juncker

The euro's strength against other currencies could cause serious harm to the eurozone economy eventually, the chairman of the 15-nation bloc's finance ministers' group said on Tuesday.

Published 16 Apr, 2008 12:00am

Oil jumps to new peak

Oil prices jumped to a new peak near $114 a barrel on Tuesday amid lingering supply worries and weakness in the US dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage.

Published 16 Apr, 2008 12:00am

Bankruptcies soared 38 percent

Bankruptcy filings by American consumers and businesses soared 38 percent in 2007 to a total of 850,912, the Administrative Office of the US Courts said on Tuesday. Some legal experts have said they expect an even steeper rise in 2008 bankruptcies because

Published 16 Apr, 2008 12:00am

Oil jumps to new peak

Oil prices jumped to a new peak near $114 a barrel on Tuesday amid lingering supply worries and weakness in the US dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage.

Published 16 Apr, 2008 12:00am

Foreclosures jump 57 percent

US home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.

Published 16 Apr, 2008 12:00am

Oil jumps to new peak

Oil prices jumped to a new peak near $114 a barrel on Tuesday amid lingering supply worries and weakness in the US dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage.

Published 16 Apr, 2008 12:00am

Net capital inflows rise

Net overall capital flows into the United States rose to $64.1 billion in February from a revised $35.7 billion in January, the US Treasury Department said on Tuesday. The inflow was enough to cover February's trade deficit of $62.3 billion, and eased som

Published 16 Apr, 2008 12:00am

Net capital inflows rise

Net overall capital flows into the United States rose to $64.1 billion in February from a revised $35.7 billion in January, the US Treasury Department said on Tuesday. The inflow was enough to cover February's trade deficit of $62.3 billion, and eased som

Published 16 Apr, 2008 12:00am

US producer inflation mounts

US producer prices advanced sharply last month on a jump in energy costs that could spell more problems for the economy, although a gauge of New York regional factory conditions was stronger than expected.

Published 16 Apr, 2008 12:00am

UK economic gloom adds to case for lower rates

Britain's housing market is turning down fast and retail sales are falling, surveys showed on Tuesday, in another sign that interest rates will need to fall further this year to shore up the economy.

Published 16 Apr, 2008 12:00am

Ericsson delists from LSE

Swedish telecom infrastructure giant Ericsson said on Tuesday it had delisted its shares from the London Stock Exchange due to weak trading. "In recent years, trading in the company's series B shares on the London Stock Exchange has corresponded to less t

Published 16 Apr, 2008 12:00am

Ericsson delists from LSE

Swedish telecom infrastructure giant Ericsson said on Tuesday it had delisted its shares from the London Stock Exchange due to weak trading. "In recent years, trading in the company's series B shares on the London Stock Exchange has corresponded to less t

Published 16 Apr, 2008 12:00am

Tesco shakes off retail gloom with record profit

Tesco Plc, the world's third-biggest food retailer, reported a record 2.8 billion pound ($5.5 billion) annual profit on Tuesday and said it had made a strong start to its new financial year, driving up its shares.

Published 16 Apr, 2008 12:00am

Tesco shakes off retail gloom with record profit

Tesco Plc, the world's third-biggest food retailer, reported a record 2.8 billion pound ($5.5 billion) annual profit on Tuesday and said it had made a strong start to its new financial year, driving up its shares.

Published 16 Apr, 2008 12:00am

China fund buys nearly one percent of BP

China has accumulated a stake of just under 1 percent in BP Plc, raising fresh questions about Beijing's strategy for investing its huge foreign currency reserves. A spokesman for BP, Britain's largest company, said it was aware of the Chinese stake, whic

Published 16 Apr, 2008 12:00am

China fund buys nearly one percent of BP

China has accumulated a stake of just under 1 percent in BP Plc, raising fresh questions about Beijing's strategy for investing its huge foreign currency reserves. A spokesman for BP, Britain's largest company, said it was aware of the Chinese stake, whic

Published 16 Apr, 2008 12:00am

Darling welcomes investment from Chinese sovereign wealth fund

British finance minister Alistair Darling said on Tuesday he welcomed investment from China's sovereign wealth fund, amid ongoing concern about state-owned funds.

Published 16 Apr, 2008 12:00am

Darling welcomes investment from Chinese sovereign wealth fund

British finance minister Alistair Darling said on Tuesday he welcomed investment from China's sovereign wealth fund, amid ongoing concern about state-owned funds.

Published 16 Apr, 2008 12:00am

Qatar and Israel discuss LNG deal

Israel has asked Qatar to consider selling it natural gas, Israeli television reported on Tuesday, a deal that could help warm ties between the Jewish state and the Arab world.

Published 16 Apr, 2008 12:00am

Delta and Northwest to create largest airline

Delta Air Lines Inc will buy Northwest Airlines Corp for more than $3 billion under a proposal unveiled late Monday to create the world's biggest airline, as carriers seek to counter skyrocketing fuel prices and a weak economy.

Published 16 Apr, 2008 12:00am

IMF and Turkey reach 'broad agreement'

The International Monetary Fund and Turkish government authorities on Monday reached a "broad agreement" on a package of economic policies aimed at completing the final reviews of the country's $10 billion loan program, which expires on May 10.

Published 16 Apr, 2008 12:00am

Berlusconi vows to keep Alitalia flying

Silvio Berlusconi, returned to power in Italy's election, vowed on Tuesday to do everything possible to keep Alitalia in the air and said Italian business owners were ready to invest in the struggling airline. Analysts have said a Berlusconi victory would

Published 16 Apr, 2008 12:00am

AstraZeneca, Ranbaxy settle Nexium patent dispute

AstraZeneca Plc has settled a US patent dispute with India's Ranbaxy Laboratories Ltd over its top-selling ulcer pill Nexium, securing future sales of the product and boosting its shares 8 percent. The deal removes the biggest single overhang for the stoc

Published 16 Apr, 2008 12:00am

Synthes sales up 19 percent after snowy winter

Swiss medical device maker Synthes reported a forecast-beating 19 percent rise in first-quarter sales on Tuesday, helped by the weak dollar and a snowy winter in Europe and boosting its shares.

Published 16 Apr, 2008 12:00am

Synthes sales up 19 percent after snowy winter

Swiss medical device maker Synthes reported a forecast-beating 19 percent rise in first-quarter sales on Tuesday, helped by the weak dollar and a snowy winter in Europe and boosting its shares.

Published 16 Apr, 2008 12:00am

Banks welcome to college of supervisors plan

Big banks welcome a decision by G7 policymakers to set up "colleges of supervisors" to track them more closely but caution that success will depend on US reforms and how well regulators work together.

Published 16 Apr, 2008 12:00am

Burberry second-half sales rise despite tougher market

British fashion house Burberry Group posted a 19 percent rise in second-half revenue on Tuesday despite tougher conditions and said it expected growth for its products, particularly in North America. Shares in Burberry, known for its camel, red and black

Published 16 Apr, 2008 12:00am

Ukraine proposes 19-49 percent rise in household gas prices

Ukraine's government proposed raising by 19-49 percent the price of gas for households, in a move that should improve the finances of state energy firm Naftogaz, seeking to avoid default on a $500 million Eurobond.

Published 16 Apr, 2008 12:00am

Australia's IAG rejects $6.8 billion bid from QBE

Insurance Australia Group Ltd (IAG), the country's top home and car insurer, rejected as too low a A$7.3 billion ($6.8 billion) bid from bigger rival QBE Insurance Group Ltd, sending IAG shares up more than 14 percent on expectations of a higher offer.

Published 16 Apr, 2008 12:00am

Investors un-fazed by looming Africa food crisis

Africa may be facing serious social unrest from rising food prices that could starve its poorest, but some investors remain enthusiastic over a continent whose economic fate is increasingly tied to China not the West.

Published 16 Apr, 2008 12:00am

German officials widen probe of industrial group Siemens

German justice officials said Monday they were extending a probe into corruption at the engineering giant Siemens to the division that includes electricity distribution. "We are expanding the investigation to PTD and to Uriel Sharef," a spokesman for the

Published 16 Apr, 2008 12:00am

Carphone shares slump on mixed results

Europe's biggest independent mobile phone retailer Carphone Warehouse missed fourth quarter forecasts for broadband and has lowered its outlook due to increased costs, sending its shares tumbling on Tuesday. The group did connect more mobile phone custome

Published 16 Apr, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	157.31
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 31	5277.51
India Sensex / May 31	73961.31
Tokyo Nikkei / May 31	38487.90
Nasdaq / May 31	16735.02
Hang Seng / May 31	18079.61
FTSE 100 / May 31	8275.38
Dow Jones / May 31	38686.32
Germany DAX 30 / May 31	18497.94

Item	Value
Crude Oil USD/Barrel / May 31	76.99
Karachi Cotton PKR/37.32 KG / May 31	19935
Gold 10 Grams PKR / May 31	207219
Gold Spot USD/Ounce / May 31	2327.33
Cotton US¢/pound / May 31	75.11
Petrol/Litre / Jun 2	268.36

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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