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Archive - 2007-06-20
Portfolio investment up $7.225 million

Portfolio investment up $7.225 million

Total portfolio investment at the country's equity market has increased by $7.225 million and reached its second highest level of $867.037 million on June 18, 2007 on the back of fresh inflow from Hong Kong, UAE, UK and USA. Earlier, it was recorded at hi
Published 20 Jun, 2007 12:00am
High palm oil price shifts demand to soya: Oil World

High palm oil price shifts demand to soya: Oil World

High palm oil prices have shifted major import demand to soyaoil with Argentina and Brazil making large new sales, Hamburg-based oilseeds analysts Oil World said. Malaysian palm oil prices reached nine-year-highs this year although they slipped from their
Published 20 Jun, 2007 12:00am
Portfolio investment up $7.225 million

Portfolio investment up $7.225 million

Total portfolio investment at the country's equity market has increased by $7.225 million and reached its second highest level of $867.037 million on June 18, 2007 on the back of fresh inflow from Hong Kong, UAE, UK and USA. Earlier, it was recorded at hi
Published 20 Jun, 2007 12:00am
HRW wheat bids mostly steady

HRW wheat bids mostly steady

US Plains hard red winter wheat basis bids were mostly steady on Tuesday, with a let-up in rainy weather opening a window for the harvest to pick up pace in parts of Oklahoma and Kansas, traders said.
Published 20 Jun, 2007 12:00am
Portfolio investment up $7.225 million

Portfolio investment up $7.225 million

Total portfolio investment at the country''s equity market has increased by $7.225 million and reached its second highest level of $867.037 million on June 18, 2007 on the back of fresh inflow from Hong Kong, UAE, UK and USA. Earlier, it was recorded at h
Published 20 Jun, 2007 12:00am
Bangladesh tea prices slide

Bangladesh tea prices slide

The average price of Bangladesh teas slid slightly to 85.84 taka ($1.24) per kg on poor quality at the weekly auction on Tuesday, brokers said.
Published 20 Jun, 2007 12:00am
Corn ends lower

Corn ends lower

Chicago Board of Trade corn futures closed mostly lower Monday, pressured by the weakness in the wheat markets and some updated forecasts that looked a little wetter for the dry eastern Corn Belt, traders said. But there wasn't anything really definitive
Published 20 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 124,074 tonnes cargo including 102,499 tonnes import, 21,575 tonnes export cargo and 5,071 containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday.
Published 20 Jun, 2007 12:00am
Singapore bunker fuel prices up

Singapore bunker fuel prices up

Singapore bunker prices rose on Tuesday, while the differential to fuel oil cargoes stayed positive at weak levels for a fourth day as prompt supplies tightened. Prices for 380-centistoke (cst) bunker fuel were pegged at $358-$360 a tonne, up $1 from the
Published 20 Jun, 2007 12:00am
Technical correction sets in on KSE

Technical correction sets in on KSE

The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit the 13,633.18 points intra-day high on the back of increase in oil prices in the international market. But later technical correction set in and it could not sustain t
Published 20 Jun, 2007 12:00am
Technical correction sets in on KSE

Technical correction sets in on KSE

The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit the 13,633.18 points intra-day high on the back of increase in oil prices in the international market. But later technical correction set in and it could not sustain t
Published 20 Jun, 2007 12:00am
Technical correction sets in on KSE

Technical correction sets in on KSE

The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit the 13,633.18 points intra-day high on the back of increase in oil prices in the international market. But later technical correction set in and it could not sustain t
Published 20 Jun, 2007 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 20 Jun, 2007 12:00am
BRIndex30 loses 85.95 points

BRIndex30 loses 85.95 points

On Tuesday, the BRIndex30 opened at 15,225.90 in the positive zone with an upward gap of 47.62 points, closing at 15,092.33 with a net negative change of -85.95 points and percentage change of -0.57. It recorded intra-day high of 15,251.96 and low of 15,0
Published 20 Jun, 2007 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 20 Jun, 2007 12:00am
BRIndex30 loses 85.95 points

BRIndex30 loses 85.95 points

On Tuesday, the BRIndex30 opened at 15,225.90 in the positive zone with an upward gap of 47.62 points, closing at 15,092.33 with a net negative change of -85.95 points and percentage change of -0.57. It recorded intra-day high of 15,251.96 and low of 15,0
Published 20 Jun, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Rushdie's knighthood: UK envoy summoned

Rushdie's knighthood: UK envoy summoned

Pakistan summoned the British high commissioner to the foreign ministry on Tuesday, officials from both sides said, amid mounting anger at the award of a knighthood to author Salman Rushdie. British High Commissioner Robert Brinkley was due to visit the f
Published 20 Jun, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Rushdie's knighthood: UK envoy summoned

Rushdie's knighthood: UK envoy summoned

Pakistan summoned the British high commissioner to the foreign ministry on Tuesday, officials from both sides said, amid mounting anger at the award of a knighthood to author Salman Rushdie. British High Commissioner Robert Brinkley was due to visit the f
Published 20 Jun, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
One percent import surcharge withdrawn

One percent import surcharge withdrawn

The Central Board of Revenue (CBR) has withdrawn one percent special surcharge on the import of inputs and raw materials by manufacturers-cum-exporters of textile, leather products including artificial leather footwear; carpets; sports and surgical goods.
Published 20 Jun, 2007 12:00am
One percent import surcharge withdrawn

One percent import surcharge withdrawn

The Central Board of Revenue (CBR) has withdrawn one percent special surcharge on the import of inputs and raw materials by manufacturers-cum-exporters of textile, leather products including artificial leather footwear; carpets; sports and surgical goods.
Published 20 Jun, 2007 12:00am
One percent import surcharge withdrawn

One percent import surcharge withdrawn

The Central Board of Revenue (CBR) has withdrawn one percent special surcharge on the import of inputs and raw materials by manufacturers-cum-exporters of textile, leather products including artificial leather footwear; carpets; sports and surgical goods.
Published 20 Jun, 2007 12:00am
One percent import surcharge withdrawn

One percent import surcharge withdrawn

The Central Board of Revenue (CBR) has withdrawn one percent special surcharge on the import of inputs and raw materials by manufacturers-cum-exporters of textile, leather products including artificial leather footwear; carpets; sports and surgical goods.
Published 20 Jun, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Ten civilians, 60 Taliban killed in Kabul

Ten civilians, 60 Taliban killed in Kabul

Taliban killed 10 civilians in clashes in southern Afghanistan in which up to 60 rebels also died, the government said on Tuesday after local officials said dozens of civilians were feared dead. Four policemen were also killed in days of fighting in the C
Published 20 Jun, 2007 12:00am
LSE index loses 21.57 points

LSE index loses 21.57 points

Equities moved both ways on the Lahore Stock Exchange (LSE) on Tuesday but finally settled in negative zone amid ascending transaction volume mainly on account of selling pressure emerged due to profit taking.
Published 20 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (June 19, 2007).
Published 20 Jun, 2007 12:00am
LSE index loses 21.57 points

LSE index loses 21.57 points

Equities moved both ways on the Lahore Stock Exchange (LSE) on Tuesday but finally settled in negative zone amid ascending transaction volume mainly on account of selling pressure emerged due to profit taking.
Published 20 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Bears tighten grip on ISE

Bears tighten grip on ISE

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) where equities failed to show recovery signs under the lead of trend-setters amid decrease in index. ISE-10 Index showed a decrease of 12.22 points as the index moved from 2,722.93 t
Published 20 Jun, 2007 12:00am
Bears tighten grip on ISE

Bears tighten grip on ISE

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) where equities failed to show recovery signs under the lead of trend-setters amid decrease in index. ISE-10 Index showed a decrease of 12.22 points as the index moved from 2,722.93 t
Published 20 Jun, 2007 12:00am
China to cut some export rebates from July 1

China to cut some export rebates from July 1

China will remove or reduce tax rebates on nearly 3,000 export categories, including some metals products, textiles, shoes and other manufactured goods, to help reduce its trade surplus, the Finance Ministry said on Tuesday.
Published 20 Jun, 2007 12:00am
Canada's core inflation cools

Canada's core inflation cools

Canada's annual core inflation rate cooled in May, possibly giving the Bank of Canada a little breathing room but unlikely, analysts said, to deter it from raising interest rates in the next few months. Statistics Canada said on Tuesday the rise in the co
Published 20 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
China actively seeking WTO deal

China actively seeking WTO deal

The head of the WTO on Tuesday rejected suggestions that China is not doing enough to help global free-trade talks but said Beijing is wary of agreeing to more farm tariff cuts so soon after joining the world trade body.
Published 20 Jun, 2007 12:00am
South Korea and US to review parts of free trade pact

South Korea and US to review parts of free trade pact

Korea has accepted a US request to review parts of a free trade agreement that has been roundly criticised by US lawmakers since it was struck earlier this year, a Foreign Ministry official said on Tuesday.
Published 20 Jun, 2007 12:00am
All sectors aid to record high monetary expansion

All sectors aid to record high monetary expansion

All sectors contributed to a record high monetary expansion of Rs 549 billion (or over 16.1 percent) recorded during FY07 to June 9 compared with Rs 460 million (or 14.5 percent), and Rs 383 billion (or 13 percent) being, respectively, the Credit Plan pro
Published 20 Jun, 2007 12:00am
Sindh to have 400 megawatts power units

Sindh to have 400 megawatts power units

A Memorandum of Understanding (MoU) will be signed between Sindh government and an Australian group for establishing 400 mw power generating units. Sources in CM House told Business Recorder that the agreement would be signed in the first week of J
Published 20 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Sindh to have 400 megawatts power units

Sindh to have 400 megawatts power units

A Memorandum of Understanding (MoU) will be signed between Sindh government and an Australian group for establishing 400 mw power generating units. Sources in CM House told Business Recorder that the agreement would be signed in the first week of J
Published 20 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Sindh to have 400 megawatts power units

Sindh to have 400 megawatts power units

A Memorandum of Understanding (MoU) will be signed between Sindh government and an Australian group for establishing 400 mw power generating units. Sources in CM House told Business Recorder that the agreement would be signed in the first week of J
Published 20 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
EDB initiative sought to address steel price surge

EDB initiative sought to address steel price surge

Minister for Industries, Jahangir Khan Tareen has directed the Engineering Development Board (EDB) to start immediate consultations with all the stakeholders to formulate measures for addressing the sudden surge in domestic steel prices.
Published 20 Jun, 2007 12:00am
EDB initiative sought to address steel price surge

EDB initiative sought to address steel price surge

Minister for Industries, Jahangir Khan Tareen has directed the Engineering Development Board (EDB) to start immediate consultations with all the stakeholders to formulate measures for addressing the sudden surge in domestic steel prices.
Published 20 Jun, 2007 12:00am
EDB initiative sought to address steel price surge

EDB initiative sought to address steel price surge

Minister for Industries, Jahangir Khan Tareen has directed the Engineering Development Board (EDB) to start immediate consultations with all the stakeholders to formulate measures for addressing the sudden surge in domestic steel prices.
Published 20 Jun, 2007 12:00am
Sales tax levy on computers deferred

Sales tax levy on computers deferred

The federal government has deferred imposition of sales tax on computers and hand-sets (laptops) at retail level till a report to be complied by a ministerial committee headed by the Minister for Information Technology and Telecommunication, official sour
Published 20 Jun, 2007 12:00am
Sales tax levy on computers deferred

Sales tax levy on computers deferred

The federal government has deferred imposition of sales tax on computers and hand-sets (laptops) at retail level till a report to be complied by a ministerial committee headed by the Minister for Information Technology and Telecommunication, official sour
Published 20 Jun, 2007 12:00am
Sales tax levy on computers deferred

Sales tax levy on computers deferred

The federal government has deferred imposition of sales tax on computers and hand-sets (laptops) at retail level till a report to be complied by a ministerial committee headed by the Minister for Information Technology and Telecommunication, official sour
Published 20 Jun, 2007 12:00am
Bomb kills 75 in Baghdad

Bomb kills 75 in Baghdad

A suicide truck bomber killed 75 people when he rammed his vehicle into a Shia mosque in Baghdad on Tuesday, just hours after the US military deployed 10,000 soldiers in a major offensive against al Qaeda.
Published 20 Jun, 2007 12:00am
Bomb kills 75 in Baghdad

Bomb kills 75 in Baghdad

A suicide truck bomber killed 75 people when he rammed his vehicle into a Shia mosque in Baghdad on Tuesday, just hours after the US military deployed 10,000 soldiers in a major offensive against al Qaeda.
Published 20 Jun, 2007 12:00am
'Government never consulted opposition on important issues'

'Government never consulted opposition on important issues'

In Punjab Assembly opposition legislator Sami Ullah Khan participating in the general discussion on proposed budget 2007-08 here on Tuesday said that if the government truly intended to build mega water reservoirs, it was its responsibility to do so and n
Published 20 Jun, 2007 12:00am
Suo motu action taken on illegal detention of students

Suo motu action taken on illegal detention of students

Judge of Supreme Court of Pakistan Justice Javed Iqbal, in a suo motu action, has directed to issue notices to the Secretary Health, Government of Punjab and Provincial Police Officer Punjab to appear before him in the Chamber on June 26 at 8.45 am.
Published 20 Jun, 2007 12:00am
Workers detention: PML-N petition disposed of

Workers detention: PML-N petition disposed of

The Lahore High Court (LHC) on Tuesday disposed of a petition filed by President PML-N Punjab, Sardar Zulfiqar Ali Khosa on detention orders of political workers. The petitioner had challenged the detention orders of Shahid Chanda and others and contended
Published 20 Jun, 2007 12:00am
SCBA, Bar Council to fete CJP next week

SCBA, Bar Council to fete CJP next week

Supreme Court Bar Association President Muneer A Malik on Tuesday said the Chief Justice of Pakistan Mr Justice Iftikhar Muhammad Chaudhry will be the guest at a cup of tea at the invitation of the Supreme Court Bar and Pakistan Bar Council.
Published 20 Jun, 2007 12:00am
EU delegation visit LHCBA

EU delegation visit LHCBA

A delegation of European Commission headed by Zsoit Bartfai visited the Lahore High Court Bar Association and discussed various issues pertaining to working of the Bar.
Published 20 Jun, 2007 12:00am
GC University holds workshop

GC University holds workshop

GC University of Lahore on Tuesday organised a workshop on 'how to advise entrepreneurs about strategy' at the university premises. The workshop was organised by the Economics department of the university.
Published 20 Jun, 2007 12:00am
UHS workshops

UHS workshops

The University of Health Sciences (UHS) is organising a series of seven workshops for its M.Phil students on developing multiple choice questions. According to a spokesman of UHS, these workshops are scheduled from June 19 to July 31.
Published 20 Jun, 2007 12:00am
Pace of work at educational institutions reviewed

Pace of work at educational institutions reviewed

Practical measures are being taken by the present government for promotion of higher education, and new universities and colleges are being set up in various cities of the province besides up-gradation of existing educational institutions.
Published 20 Jun, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 Jun, 2007 12:00am
First women business incubation center set up

First women business incubation center set up

The first ever Women Business Incubation Center (WBIC) established by the Small and Medium Enterprise Development Authority (Smeda) at Lahore reached completion this week by furnishing 24 cubical offices bearing modern communication and exhibition facilit
Published 20 Jun, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Apta hails withdrawal of one percent surcharge on cotton

Apta hails withdrawal of one percent surcharge on cotton

The efforts of the All Pakistan Textile Association (APTA) bore fruits because the government has issued notification annulling the 1 percent special surcharge on imported cotton. Chairman All Pakistan Textile Association (APTA) Adil Mehmood stated this i
Published 20 Jun, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 20 Jun, 2007 12:00am
CCB to initiate work on Rs 30 million school project

CCB to initiate work on Rs 30 million school project

On the appeal of District Nazim Mian Amer Mahmood, Tajpura Citizen Community Board has agreed to construct double storied building for Government Boys High School, over a 24 kanal piece of land at Tajpura.
Published 20 Jun, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Jun, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Jun, 2007 12:00am
IPC and SCB sign MoU

IPC and SCB sign MoU

A memorandum of understanding was signed between Intel Pakistan Corporation along with one of its premium providers (IPP) and Standard Chartered Bank (SCB) to facilitate Raffles desktop PCs and HP/Apple MAC laptops to the bank's credit card customers in P
Published 20 Jun, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Incentives for real estate sector lauded

Incentives for real estate sector lauded

Welcoming the incentives announced by the federal government for 'Real Estate Investment Trust', CEO Tricon Developers, Asif Kamal has said that this endeavour of the government would provide an opportunity to small investors to make investment in the rea
Published 20 Jun, 2007 12:00am
Retailers told to submit proposals before Finance Bill passage

Retailers told to submit proposals before Finance Bill passage

Director General/Regional Commissioner of Income Tax, Haji Ahmad, has asked the retailers to submit their proposals before the passage of Finance Bill 2007. He stated this during a meeting with the retailers, here on Tuesday.
Published 20 Jun, 2007 12:00am
Thunderstorm forecast

Thunderstorm forecast

Scattered thunderstorm may occur over Southern Punjab, especially in Bahawalpur division, and isolated rain is also expected in Gujranwala and Lahore divisions alongwith upper catchments of rivers Jhelum, Chenab and Ravi.
Published 20 Jun, 2007 12:00am
Punjab University publishes Persian book

Punjab University publishes Persian book

Punjab University department of Iqbaliat has published a Persian book titled "IQBAL DA RA MAULAVI". The writer of this book is the former chairman department of Persian, Former Dean Faculty of Oriental and Islamic Learning and Chairman department of Iqbal
Published 20 Jun, 2007 12:00am
Hydrants handing over

Hydrants handing over

Pakistan Rangers (Sindh) will formally hand over the water hydrants to the Karachi Water and Sewerage Board (KWSB) and town nazims from July 1. This was announced in a statement of the Rangers issued here on Tuesday.
Published 20 Jun, 2007 12:00am
Kasuri rejects allegation of being soft in war on terror

Kasuri rejects allegation of being soft in war on terror

Foreign Minister Khurshid Kasuri has rejected the allegation that Pakistan is going soft in the war on terror and citing the country's sustained and firm counter-terrorism measures over the years and loss of hundreds of its soldiers, stressed the key Sout
Published 20 Jun, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
NSPP to aid capacity building of civil servants

NSPP to aid capacity building of civil servants

Recognising the requirement of the capacity building of civil servants, the federal government has established and assigned the National School of Public Policy (NSPP) to focus on management training at middle and senior level positions in bureaucracy.
Published 20 Jun, 2007 12:00am
Clean atmosphere right of every citizen: Nazim

Clean atmosphere right of every citizen: Nazim

District Nazim Hyderabad Kanwar Naveed Jameel said that clean atmosphere is the right of every citizen; district government is working for sanitation without any discrimination in city. He was addressing to the officers of cantonment board, Taluka city ad
Published 20 Jun, 2007 12:00am
Sethi launches 'Sweet N Low'

Sethi launches 'Sweet N Low'

Sethi International, the sole distributor of world renowned brand UHU & Faber-Castell, has recently launched another world famous low calorie sweetener, Sweet N Low in Pakistan.
Published 20 Jun, 2007 12:00am
Cement: DEWAN CEMENT LIMITED - Half Year Ended December 31 2006

Cement: DEWAN CEMENT LIMITED - Half Year Ended December 31 2006

Dewan Cement Ltd belongs to a large conglomerate Dewan Mushtaq Group and its other companies are, Dewan Salman Fibre Ltd, Dewan Hattar Cement Ltd, Dewan Sugar Mills Ltd, Dewan Textile Mills Ltd, Dewan Khalid Textile Mills Ltd, Dewan Mushtaq Textile Mills
Published 20 Jun, 2007 12:00am
Irfan elected Multiple Council Chairman of Lions Clubs

Irfan elected Multiple Council Chairman of Lions Clubs

In a recently held Multiple District Convention of Lions Clubs International District 305, Pakistan, in Peshawar Lion Haji Mohammad Asaf, Past Council Chairman announced Lion M Irfan Shaikh as Elected Multiple Council Chairman of Lions Clubs International
Published 20 Jun, 2007 12:00am
Cement: DEWAN CEMENT LIMITED - Half Year Ended December 31 2006

Cement: DEWAN CEMENT LIMITED - Half Year Ended December 31 2006

Dewan Cement Ltd belongs to a large conglomerate Dewan Mushtaq Group and its other companies are, Dewan Salman Fibre Ltd, Dewan Hattar Cement Ltd, Dewan Sugar Mills Ltd, Dewan Textile Mills Ltd, Dewan Khalid Textile Mills Ltd, Dewan Mushtaq Textile Mills
Published 20 Jun, 2007 12:00am
Withholding tax reduction: CBR to consider CNG body's recommendation

Withholding tax reduction: CBR to consider CNG body's recommendation

Chairman, All Pakistan CNG Association (APCNGA), Sindh zone, Junaid Makda has said the Chairman, Central Board of Revenue (CBR) Abdullah Yousif has agreed to consider association's recommendation of reducing withholding tax from 6 percent to 4 percent.
Published 20 Jun, 2007 12:00am
THE RUPEE: dollar, euro higher in open market

THE RUPEE: dollar, euro higher in open market

Increasing demand for dollars pushed the rupee down in the open market on Tuesday as it lost eight paisa for buying and selling at Rs 61.08 and Rs 60.18 in process of trading, dealers said.
Published 20 Jun, 2007 12:00am
Vice chancellor of Sindh University visits plantation section

Vice chancellor of Sindh University visits plantation section

The Vice Chancellor University of Sindh Mazharul Haq Siddiqui has directed plantation section of the university to work on the beautification of Dr M.N.M Talpur Road and Sir Haji Abdullah Haroon Road. He directed the officials of the section during his vi
Published 20 Jun, 2007 12:00am
THE RUPEE: dollar, euro higher in open market

THE RUPEE: dollar, euro higher in open market

Increasing demand for dollars pushed the rupee down in the open market on Tuesday as it lost eight paisa for buying and selling at Rs 61.08 and Rs 60.18 in process of trading, dealers said.
Published 20 Jun, 2007 12:00am
Cisco completes acquisition of WebEx communications

Cisco completes acquisition of WebEx communications

Cisco Systems, Inc on Tuesday announced the completion of its acquisition of WebEx Communications. Inc WebEx is a market leader in on-demand collaboration applications, and its network-based solution for delivering business-to-business collaboration exten
Published 20 Jun, 2007 12:00am
12 companies offered Rs 6.258 billion IPOs in fiscal year 2007

12 companies offered Rs 6.258 billion IPOs in fiscal year 2007

Fund raising through stock market slightly improved as 12 companies offered their shares worth Rs 6.258 billion in the IPOs (initial public offering) to general public during FY07 against the aggregate size of Rs 3.6 billion offered by nine companies in F
Published 20 Jun, 2007 12:00am
NAB official caught taking bribe

NAB official caught taking bribe

A special team of National Accountability Bureau (NAB) Sindh caught red-handed an Assistant Director/Investigation Officer Fazl-e-Hadi while taking bribe last night.
Published 20 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
EBM children's theatre

EBM children's theatre

English Biscuit Manufacturers (Pvt) Limited has joined hands with leading arts and entertainment personality Talat Hussain, who is also the Director of Arts Theatre, to launch a permanent children's theatre in the metropolis to be called "Peek Freans Chil
Published 20 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Development of Urdu language Electronic media's contribution hailed

Development of Urdu language Electronic media's contribution hailed

The emerging electronic media in Pakistan is contributing towards the development of Urdu language like never before. Growth of English language as the only credible language in journalism has now become equal to the Urdu language, which is now lingua fra
Published 20 Jun, 2007 12:00am
Meezan Bank to launch Musharakah-based facility

Meezan Bank to launch Musharakah-based facility

Meezan Bank Limited will introduce a new product based on "Musharakah" as an alternative to conventional running finance facility, said a bank here on Monday. It said the product would help corporate sector clients to manage their business dealing in a Sh
Published 20 Jun, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Six bodies recovered from Arabian Sea

Six bodies recovered from Arabian Sea

Six bodies recovered from Arabia Sea near Jiwani were buried in Ganz. According to reports reaching here, the bodies were found in the sea near Jiwani coast.
Published 20 Jun, 2007 12:00am
Encroachment along nallahs to be removed: Kamal

Encroachment along nallahs to be removed: Kamal

Nazim Karachi, Syed Mustafa Kamal said the city government has decided to remove the encroachments along all nallahs to avoid any future tragedy. City Nazim stated this in his talks with mediapersons during an inspection of cleaning work of Manzoor Colony
Published 20 Jun, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (June 19, 2007) and for Wednesday (June 20, 2007).
Published 20 Jun, 2007 12:00am
Sheraton completes 20 years

Sheraton completes 20 years

The world leader in hotel industry Starwood Hotels (Karachi Sheraton Hotel and Towers) have reaffirmed their commitment to continue serving Pakistan by maximising the hotel's contribution to economy, state exchequer, tourism industry and the community.
Published 20 Jun, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (June 19, 2007).

Published 20 Jun, 2007 12:00am
Two agreements signed to generate 1225 megawatts electricity

Two agreements signed to generate 1225 megawatts electricity

Atlas Honda, leading company in private sector on Tuesday signed two agreements with a major German firm MAN Diesel for 450 MW power generation in private sector as joint venture and to supply electrical equipment to Pakistan.
Published 20 Jun, 2007 12:00am
Senate condemns Britain for knighting Rushdie

Senate condemns Britain for knighting Rushdie

The Senate on Tuesday joined condemnation course as anger over the British knighthood to blasphemous writer Salman Rushdie for his controversial novel "The Satanic Versu" grew in Pakistan.
Published 20 Jun, 2007 12:00am
Ministry to rationalise drugs' registration

Ministry to rationalise drugs' registration

The Ministry of Health is working to revise the check-list for registration of drugs and make the system responsive to the needs of the industry.
Published 20 Jun, 2007 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Will the same government, still be there when the Senate holds next session? After a business, lasting less than an hour the Upper House adjourned sine die leaving everyone pondering when the Senate will meet next time.
Published 20 Jun, 2007 12:00am
150 hospitals equipped with hepatitis surveillance system

150 hospitals equipped with hepatitis surveillance system

The government has equipped 104 hospitals with a surveillance system to diagnose hepatitis, while 150 more hospitals would have this facility by the year-end. This was stated by Prime Minister's Programme for Prevention and Control of Hepatitis Manager Dr
Published 20 Jun, 2007 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 20 Jun, 2007 12:00am
Ulema's help sought against poppy, drug abuse

Ulema's help sought against poppy, drug abuse

The Federal Minister for Narcotics Control, Ghaus Bakhsh Mahar, has called upon religious scholars and the civil society leaders to take active part in eliminating poppy and drugs abuse, saying the government alone could not fully deliver the goods.
Published 20 Jun, 2007 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 20 Jun, 2007 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 20 Jun, 2007 12:00am
Islamabad and Punjab cops clash over colleague's death

Islamabad and Punjab cops clash over colleague's death

A large number of Punjab police men on Tuesday protested over the sudden death of their colleague due to lack of timely medical aid as his request for leave was turned down. According to the Punjab police officials, constable Mohammad Hussain was not feel
Published 20 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Tuesday (June 19, 2007) and the forecast for Wednesday (June 20, 2007).
Published 20 Jun, 2007 12:00am
Duty drawback: new SROs issued in line with HS-Code 2007

Duty drawback: new SROs issued in line with HS-Code 2007

The Central Board of Revenue (CBR) has issued new standard duty drawback notifications for textile, leather, engineering, sports, footwear and all other leading sectors to bring Pakistan Customs Tariff (PCT) headings in line with the new HS-Code 2007.
Published 20 Jun, 2007 12:00am
Duty drawback: new SROs issued in line with HS-Code 2007

Duty drawback: new SROs issued in line with HS-Code 2007

The Central Board of Revenue (CBR) has issued new standard duty drawback notifications for textile, leather, engineering, sports, footwear and all other leading sectors to bring Pakistan Customs Tariff (PCT) headings in line with the new HS-Code 2007.
Published 20 Jun, 2007 12:00am
Three of a family killed in road mishap

Three of a family killed in road mishap

Three members of a family died while two sustained serious injuries in an accident near here on Tuesday. Mian Iqbal, along with his family, was returning to Burewala from Machiwal Town in a carry motor. About 15 miles away from Burewala, a speedy bus ramm
Published 20 Jun, 2007 12:00am
Plan to demolish 250 dangerous buildings

Plan to demolish 250 dangerous buildings

The City District Government Multan has decided to demolish about 250 dangerous buildings in various parts of the city on the instructions of the provincial government. All the four town municipal administrations have been asked to submit the lists of dan
Published 20 Jun, 2007 12:00am
Final electoral list by September

Final electoral list by September

Final computerised electoral lists would be ready by September 2007, Secretary, Election Commission, Kunwar Muhammad Dilshad said. Talking to PTV, he said around 46,000 display centres had been established across the country to facilitate more and more pe
Published 20 Jun, 2007 12:00am
Low revenue from local textile sales: CBR planning to find out causes

Low revenue from local textile sales: CBR planning to find out causes

The Central Board of Revenue (CBR) is planning to identify reasons for less revenue from domestic sales of textile products. Sources told Business Recorder on Tuesday that domestic sales of textile products contributed just Rs 12.1 million in the f
Published 20 Jun, 2007 12:00am
Transporters threaten strike wheel-jam: Motor Vehicle Ordinance opposed

Transporters threaten strike wheel-jam: Motor Vehicle Ordinance opposed

Transporters of Rawalpindi have rejected the Motor Vehicle Ordinance 2007 and threatened to hold complete wheel-jam if it was not withdrawn. "If government failed to withdraw the ordinance we will hold protests, demonstrations, sit-ins and observe complet
Published 20 Jun, 2007 12:00am
CPNE team back from Nepal

CPNE team back from Nepal

The Council of Pakistan Newspaper Editors (CPNE) delegation to Nepal led by CPNE President Syed Faseih Iqbal returned here on Tuesday evening from Kathmandu by PIA flight after completing a five-day tour, says a CPNE press release.
Published 20 Jun, 2007 12:00am
French investment linked to security issue

French investment linked to security issue

French Ambassador Regis D Balanet has termed $100 million French investment as meagre, saying that only hurdle in enhancing the investment was security concerns of the investors.
Published 20 Jun, 2007 12:00am
FPCCI flays air travel tax

FPCCI flays air travel tax

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has termed the increase in air travel tax in the federal budget as crippling blow to the tourism industry.
Published 20 Jun, 2007 12:00am
'PSEB receives meagre grant for IT industry uplift'

'PSEB receives meagre grant for IT industry uplift'

Pakistan Software Export Board (PSEB) receives a very meager grant from the government for its IT industry's development programmes, sources told Business Recorder. They said that the PSEB received a grant of less than rupees three million a month,
Published 20 Jun, 2007 12:00am
Skill mapping exercise to be initiated countrywide

Skill mapping exercise to be initiated countrywide

Ministry of Industries has decided to initiate a skill mapping exercise at district levels across the country, which is aimed at providing workforce with critical skills to various sectors of national economy, sources told Business Recorder.
Published 20 Jun, 2007 12:00am
Political workers still in prisons

Political workers still in prisons

Pakistan People's Party (Human Rights wing) Punjab President Salim-ur-Rehman Mayo said that despite tall claims made by the Punjab government to release all political detenus immediately, 56 opposition parties' activists, held in the crackdown against opp
Published 20 Jun, 2007 12:00am
Opposition boycotts NWFP budget session

Opposition boycotts NWFP budget session

The joint opposition in the NWFP Assembly boycotted Tuesday's proceedings of the budget session alleging that they were kept out of the consultative process of budget-making. The house was due to resume debate on the provincial budget after two-day. Howev
Published 20 Jun, 2007 12:00am
Mianwali Express

Mianwali Express

Punjab Chief Minister Chaudhry Pervaiz Elahi is inaugurating "Mianwali Non-Stop Express" on Wednesday at the Lahore Railway Station. The train will leave Lahore at 10pm and will reach Mianwali at 5.45am on Thursday.
Published 20 Jun, 2007 12:00am
Talks held for implementation of plan against child abuses

Talks held for implementation of plan against child abuses

A comprehensive consultation programme for 'Developing Mechanism' for the implementation of National Plan of Action (NPA) for Children was held at a local hotel here on Tuesday by the Provincial Commission for Child Welfare and Development (PCCWD).
Published 20 Jun, 2007 12:00am
Women's presence needed in reconciliatory bodies

Women's presence needed in reconciliatory bodies

Experts at a three-day workshop on Tuesday urged the nazims and naib nazims to include women in Masalehat Anjuman (reconciliation body) of all the union councils to settle family disputes. The workshop was organised by the Municipal Training Research Inst
Published 20 Jun, 2007 12:00am
Karachiites urged to question government policies

Karachiites urged to question government policies

The civil society must have a questing attitude to keep a watchful eye on the government's policies. Dr Noman Ahmed, Chairman Department of Architecture and Planning, NED University said this at a forum on Dialogue for Change: "Mega Projects of Karachi an
Published 20 Jun, 2007 12:00am
Seminar identifies areas of cooperation with Japan trade bodies

Seminar identifies areas of cooperation with Japan trade bodies

The Pakistan Japan Business Forum (PJBF) organised a seminar on Tuesday to create awareness amongst the local business community to explore areas of cooperation between the trade organisations and Association of Overseas Technical Scholarship-Japan (AOTS)
Published 20 Jun, 2007 12:00am
$0.75 million PHRD grant deal signed with World Bank

$0.75 million PHRD grant deal signed with World Bank

Pakistan on Tuesday signed an agreement with the World Bank for grant of $750,000 under Policy and Human Resource Development (PHRD) initiative. The grant will essentially be utilised for the preparation of strategic "Social and Environmental Assessment (
Published 20 Jun, 2007 12:00am
Credible defence guarantee for peace: Prime Minister

Credible defence guarantee for peace: Prime Minister

Prime Minister Shaukat Aziz while rejecting any cut in the defence budget has said that credible defence of the country is the guarantee for peace in the region. Addressing a press conference here at his chamber on Tuesday, he said, "we cannot afford to b
Published 20 Jun, 2007 12:00am
Telenor launches new visual profile

Telenor launches new visual profile

Telenor Pakistan has launched a new visual profile for djuice, which provides a mix of communication and entertainment. In a press release issued here on Tuesday Sigvart Voss Eriksan, Chief Marketing Officer, Telenor Pakistan said, "with a thriving young
Published 20 Jun, 2007 12:00am
Rs 168.39 million to be spent on Pesco distribution system

Rs 168.39 million to be spent on Pesco distribution system

The board of directors of the Peshawar Electricity Supply Company (Pesco) on Tuesday approved Rs 168.398 million to spend on improving Pesco power distribution system and resolution of the problems of low voltage and system overloading in different areas
Published 20 Jun, 2007 12:00am
Fruitfly attack on mango orchards controlled

Fruitfly attack on mango orchards controlled

Fruitfly attack on mango orchards in the district has been controlled with the efforts of Fruit and Vegetable Development Project staff and the mango growers.
Published 20 Jun, 2007 12:00am
'Museum Education Programme' initiated

'Museum Education Programme' initiated

The Lok Virsa has initiated a project "Museum Education Programme" with leading educational institutions for encouraging students in field research related to cultural heritage of Pakistan.
Published 20 Jun, 2007 12:00am
High floods

High floods

Water discharge remains high as heavy floods continue in Swat, Shah Alam and Kabul rivers on Tuesday. According to the NWFP Flood Warning System, water discharge remained 14591 cusecs at Khwarzakhela in Swat River, 26770 cusecs at Adezai bridge in Kabul R
Published 20 Jun, 2007 12:00am
Over Rs 600 million road network plan initiated

Over Rs 600 million road network plan initiated

Sialkot district government has initiated a road network plan costing over Rs 600 million, under which repair and reconstruction of 127 roads in Sialkot, Daska, Pasrur and Sambrial tehsils of the district are being accomplished.
Published 20 Jun, 2007 12:00am
Mepco catches 211 power thieves: Rs 1.1 million fines imposed

Mepco catches 211 power thieves: Rs 1.1 million fines imposed

Various teams of Multan Electric Power Company (Mepco) conducted surprise raids, and caught 211 consumers red-handed while stealing power, and imposed Rs 1.1 million fines on them. A team of Shamsabad subdivision caught 21 consumers stealing power, and fi
Published 20 Jun, 2007 12:00am
4000 more utility stores to be established

4000 more utility stores to be established

The gigantic expansion project to set up 4000 more utility store across the country would be kicked-off from June 24 (Sunday), Managing Director Utility Stores Corporation of Pakistan, Brigadier Hafeez Ahmed (Retd) said.
Published 20 Jun, 2007 12:00am
Voter lists display centres fail to attract people

Voter lists display centres fail to attract people

Majority of centres displaying computerised voter-lists were seen wearing desert look, with each display centre attracts 15 to 25 visitors during the past seven days in the city, according to a survey carried out by this correspondent.
Published 20 Jun, 2007 12:00am
'World Refugees Day' today

'World Refugees Day' today

The "World Refugees Day" will be observed in the country on June 20 (Wednesday). This year, theme of the Day is "Hope for the Future", for the millions of refugees and displaced people around the globe.
Published 20 Jun, 2007 12:00am
Naran back in tourism arena

Naran back in tourism arena

Slowly but surely reviving after suffering massive blow during the devastating earthquake on October 2005, the scenic valley of Naran is back in tourism arena and has started housing thousands of tourists, both foreign and local.
Published 20 Jun, 2007 12:00am
Efforts on to groom quality IT professionals: Awais

Efforts on to groom quality IT professionals: Awais

Federal Minister for Information Technology Awais Ahmed Khan Leghari said on Tuesday that all the steps were being taken to groom quality information technology (IT) professionals to meet the demands of ever craving and absorbing industry.
Published 20 Jun, 2007 12:00am
College to be established in Darel valley

College to be established in Darel valley

The Northern Areas Chief Secretary Major Qamar-uz-Zaman (Retd) has approved establishment of an Inter-College at Darel valley during his visit to that area.
Published 20 Jun, 2007 12:00am
Historic welcome awaits CJP in Multan

Historic welcome awaits CJP in Multan

Entire city will be illuminated and decorated with colourful buntings, national and party flags on June 22 and 23 on the arrival of Chief Justice of Pakistan Iftikhar Muhammad Chaudhry. Chief Justice Chaudhry will be accorded a historic reception when he
Published 20 Jun, 2007 12:00am
PILDAT concerned over cut in NWFP female voters

PILDAT concerned over cut in NWFP female voters

Pakistan Institute of Legislative Development and Transparency (PILDAT) has expressed grave concern over the drastic reduction in female voters in the NWFP, which has seen the number of registered female voters decreasing by 45 percent from 3.92 million i
Published 20 Jun, 2007 12:00am
Algerian team briefed about working of democratic institutions

Algerian team briefed about working of democratic institutions

Speaker National Assembly Chaudhry Amir Hussain has said that Pakistan attaches great importance to its relations with Algeria and both the countries are tied together in the eternal bonds of religion, history and culture.
Published 20 Jun, 2007 12:00am
Demographic health survey completed

Demographic health survey completed

National Institute of Population Studies (NIPS) has completed Pakistan demographic health survey for 2006-07. NIPS Director Mahboob Sultan briefed Federal Minister for Population Welfare Chaudhry Shahbaz Hussain about the salient features of the survey he
Published 20 Jun, 2007 12:00am
Checking terror funding and money laundering

Checking terror funding and money laundering

According to a report, the government intends to empower the State Bank of Pakistan to get information relating to any business transaction from banking companies and other financial institutions, in order to identify offences of money laundering or fundi
Published 20 Jun, 2007 12:00am
Destructive disunity

Destructive disunity

As if the internecine wars in Iraq, Afghanistan and Lebanon were not enough to cause pain and frustration to the Muslim world, the Palestinians too are embroiled in a bloody power tussle.
Published 20 Jun, 2007 12:00am
The company in a post-industrial capitalist economy-II

The company in a post-industrial capitalist economy-II

Primacy of the shareholder: It is interesting to look at the main sources of income of the wealthiest members of society. Before World War II, those with the highest incomes consisted mainly of capitalists who amassed their earnings from dividends.
Published 20 Jun, 2007 12:00am
Re: Budget

Re: Budget

It was very interesting to hear the budget speech of our Minister of State for Finance. The most important part of the Minister's speech was his repeated question, after every paragraph, "Which previous government has done so much for the people?".
Published 20 Jun, 2007 12:00am
Uncovered sewerage line

Uncovered sewerage line

This refers to the problem concerning the main sewerage line that has been left uncovered in North Nazimabad (passing through the Sakhi Hassan roundabout from Qalandarya Chowk to Peoples' Chowrangi).
Published 20 Jun, 2007 12:00am
Algerian parliamentary team visits Punjab Assembly

Algerian parliamentary team visits Punjab Assembly

Expressing satisfaction over the completion of five years tenure of present assemblies in Pakistan, Abdelkader Bansala President Council of the National Senate of Algeria, said that it is a solid proof of stability of democracy in Pakistan.
Published 20 Jun, 2007 12:00am
NWFP Assembly demands snapping ties with Britain

NWFP Assembly demands snapping ties with Britain

The NWFP Assembly Tuesday passed a unanimous resolution demanding of the federal government to cut off diplomatic relations with the United Kingdom to protest conferring knighthood on Salman Rushdie. The resolution also urged the government to call the Br
Published 20 Jun, 2007 12:00am
US MIDDAY: gold moves up

US MIDDAY: gold moves up

US gold futures bounced early on Tuesday as buyers sought a bargain at the lows hit when crude oil dropped and the dollar advanced on the euro, traders said. Though gold's trading range remained contained, they added that physical buyers found value at th
Published 20 Jun, 2007 12:00am
US MIDDAY: copper descends

US MIDDAY: copper descends

US copper futures extended the previous session's retreat from 4-1/2 week highs at the open on Tuesday after sluggish housing data for the month of May reinforced concerns of a US economic slowdown, brokers said.
Published 20 Jun, 2007 12:00am
US MIDDAY: soyabeans weak

US MIDDAY: soyabeans weak

Soyabean futures on the Chicago Board of Trade were weak Tuesday, pressured by heavier-than-expected rains in Illinois overnight that were seen recharging topsoil moisture and improving crop conditions, traders said.
Published 20 Jun, 2007 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

Corn futures at the Chicago Board of Trade were lower early on Tuesday on better-than-expected rainfall in the dry eastern US Midwest crop region, especially in key corn state Illinois, traders said.
Published 20 Jun, 2007 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Wheat futures at the Chicago Board of Trade were lower at midsession on Tuesday as forecasts for improving US harvest weather and a projection for a large Australian crop prompted technical selling, traders said. The market was also setting back from a ru
Published 20 Jun, 2007 12:00am
Gold steadies in London

Gold steadies in London

Gold firmed in Europe late on Tuesday, aided by weaker-than-expected US housing data and oil prices near 10-month highs, traders said. Spot gold was at the day's high of $657.15/657.75 an ounce by 1445 GMT, against $656.45/657.90 late in New York on Monda
Published 20 Jun, 2007 12:00am
Nickel hits four-month low

Nickel hits four-month low

Nickel prices fell more than seven percent on Tuesday as worries about falling demand intensified after news that China may cut stainless steel output, while copper prices slipped. Two-thirds of all nickel mined is used to make stainless steel.
Published 20 Jun, 2007 12:00am
EU sugar firms fail to grasp reform

EU sugar firms fail to grasp reform

Price-slashing EU sugar regime reforms have failed to encourage enough processors to give up production and growers are not fully integrated in the process, a leading UK growers' representative said on Tuesday.
Published 20 Jun, 2007 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures ended mixed Tuesday as fibre contracts retreated after hitting a two-month high this week although the overall tone of sentiment remained bullish, analysts said. The New York Board of Trade's open-outcry July cotton contract dropped 0.45 ce
Published 20 Jun, 2007 12:00am
China's north-east corn area hit by drought

China's north-east corn area hit by drought

China's north-east province of Liaoning, one of the country's leading corn-producing areas, has been hit by its worst drought in 30 years, limiting drinking water supplies for more than one million people, the official Xinhua news agency reported on Tuesd
Published 20 Jun, 2007 12:00am
Oil eases below $72; Nigeria strike eyed

Oil eases below $72; Nigeria strike eyed

Oil prices eased on Tuesday, pulling back from the 10-month high posted the previous session on concerns that a strike call in Nigeria could further cut crude output in the world's eighth-biggest oil exporter. Benchmark London Brent crude settled down 34
Published 20 Jun, 2007 12:00am
Battle for copper concentrates hits smelters

Battle for copper concentrates hits smelters

Too many smelters are chasing too little copper concentrate, driving mid-year contracts between smelters and miners, known as treatment and refining charges (TC/RCs), sharply lower and threatening the future of some plants.
Published 20 Jun, 2007 12:00am
India not selling raw sugar at current prices

India not selling raw sugar at current prices

India's sugar export corporation ISEC is not selling raw sugar at current prices despite a jump in March 2008 futures above 10.0 cents per lb., its chief executive SL Jain said on Tuesday. "I am not selling now. We are not selling anything immediately," J
Published 20 Jun, 2007 12:00am
UK's top share index slumps

UK's top share index slumps

The FTSE 100 of Britain's leading shares ended down in thin trading on Tuesday as Tesco and a German investor confidence survey dragged the index deep into the red. The FTSE 100 closed 53.3 points, or 0.8 percent, down at 6,650.2.
Published 20 Jun, 2007 12:00am
Bonds: Altadis CDS jump on bid talk

Bonds: Altadis CDS jump on bid talk

The cost of insuring debt on Franco-Spanish tobacco company Altadis continued to rise on Tuesday as talk that a private equity group was close to making a bid intensified.
Published 20 Jun, 2007 12:00am
Bonds: Altadis CDS jump on bid talk

Bonds: Altadis CDS jump on bid talk

The cost of insuring debt on Franco-Spanish tobacco company Altadis continued to rise on Tuesday as talk that a private equity group was close to making a bid intensified.
Published 20 Jun, 2007 12:00am
US Stocks: Tuesday's midday trade

US Stocks: Tuesday's midday trade

US stocks edged higher on Tuesday as a favourable court ruling for the pharmaceutical sector lifted shares of drugmakers, including Bristol-Myers Squibb Co, while a pullback in benchmark bond yields tempered interest rate worries.
Published 20 Jun, 2007 12:00am
China's main index rises

China's main index rises

China's main stock index rose 0.38 percent on Tuesday, rebounding from an early fall triggered by news that regulators had punished eight bank branches for lending money used illicitly in stock and real estate investment.
Published 20 Jun, 2007 12:00am
Indian rupee off high

Indian rupee off high

The Indian rupee was knocked off a one-week high on Tuesday by suspected central bank intervention, and ended weaker after traders decided the safest option was to pare their holdings of the local currency. The late selling drove the rupee to a close of 4
Published 20 Jun, 2007 12:00am
Euro's bullish momentum stalls

Euro's bullish momentum stalls

Bullish euro momentum stalled on Tuesday after the single currency hit a record peak against the low-yielding Japanese yen, with sentiment hurt as a measure of German investor confidence surprisingly fell in June.
Published 20 Jun, 2007 12:00am
Pound keeps rolling on yen

Pound keeps rolling on yen

Sterling hit a 15-year high against the yen on Tuesday for the third trading day in a row, buoyed by carry-trade investors enamoured with the high-yielding pound. Sterling also firmed versus the euro after an unexpected drop in the June German ZEW index d
Published 20 Jun, 2007 12:00am
Afghans must stand on their own feet: Karzai

Afghans must stand on their own feet: Karzai

Afghans should stand on their own feet to save their country from further foreign meddling, President Hamid Karzai said on Tuesday, listing a lack of rule of law and the drugs trade as the main challenges. Afghanistan has relied largely on Western troops
Published 20 Jun, 2007 12:00am
Bangladesh parties plan to curb leaders' powers

Bangladesh parties plan to curb leaders' powers

Bangladesh's two major political parties, under pressure over charges of corruption and abuse of power, have finalised a set of internal reforms aimed at curbing the powers of the party chiefs, leaders said on Tuesday.
Published 20 Jun, 2007 12:00am
Putin and Malaysian Prime Minister vow closer ties

Putin and Malaysian Prime Minister vow closer ties

Russian President Vladimir Putin and Malaysian Prime Minister Abdullah Ahmad Badawi vowed Tuesday to strengthen their countries' ties, particularly in the energy sphere. Meeting at the Kremlin, the two leaders pointed to the increased involvement in Russi
Published 20 Jun, 2007 12:00am
Britain admits failings over Iran's seizure of sailors

Britain admits failings over Iran's seizure of sailors

Britain admitted Tuesday that collective failings led to the seizure of 15 sailors by Iran in March, but said no disciplinary action would be brought. Defence Secretary Des Browne said a review into operations and rules of engagement concluded the group's
Published 20 Jun, 2007 12:00am
Barroso warns Poland on treaty, Warsaw talks tough

Barroso warns Poland on treaty, Warsaw talks tough

The European Commission warned Poland on Tuesday it could lose money and support if it blocks a deal to reform European Union institutions at a summit this week, but Warsaw vowed to fight on ruthlessly.
Published 20 Jun, 2007 12:00am
Investigators tell Thaksin to return

Investigators tell Thaksin to return

Thai anti-corruption investigators ordered ousted Prime Minister Thaksin Shinawatra on Tuesday to return from exile within 10 days to face charges of concealing assets. "The accused must show up to defend himself by June 29," Sunai Manomai-udom, head of t
Published 20 Jun, 2007 12:00am
Spain joins EU defence procurement regime

Spain joins EU defence procurement regime

Spain has signed up to the competitive procurement regime for military equipment run by the European Union in the aim of opening the bloc's jealously guarded national defence markets, the EU said on Tuesday.
Published 20 Jun, 2007 12:00am
15 killed in storms in south-west China

15 killed in storms in south-west China

Torrential rains in southwest China have triggered flash floods and landslides, leaving 15 people dead and two missing, the government reported Tuesday. Of the 15 dead in Sichuan province, 10 were killed in Dazhou city since rains began Saturday, the civi
Published 20 Jun, 2007 12:00am
Bush and Olmert reaffirm support for Abbas

Bush and Olmert reaffirm support for Abbas

US President George W. Bush and Israeli Prime Minister Ehud Olmert on Tuesday pledged to bolster Palestinian leader Mahmoud Abbas, as Israel tightened the diplomatic and economic embargo on Hamas who control Gaza.
Published 20 Jun, 2007 12:00am
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