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Archive - 2007-06-22
PTA asks government to curb black tea smuggling

PTA asks government to curb black tea smuggling

The Pakistan Tea Association (PTA) has demanded the government to take fiscal measure to curb black tea smuggling in the country. It also demanded the government to consider tea import under the tariff of food items as the tea is a beverage of poor and co
Published 22 Jun, 2007 12:00am
CDGK and HBC ink MoU on CNG buses

CDGK and HBC ink MoU on CNG buses

The City District Government Karachi (CDGK) and Holland Bus Company (HBC) signed a memorandum of understanding (MoU) for launching 1500 CNG buses in the Metropolis.
Published 22 Jun, 2007 12:00am
CDGK arranging to fill CNG buses at night

CDGK arranging to fill CNG buses at night

The City District Government Karachi is negotiating with Pakistan State Oil (PSO) and CNG Stations Owners Association of Pakistan (CSOAP) for an "interim arrangement" to fill CNG buses between 12 midnight and 6am from next month.
Published 22 Jun, 2007 12:00am
Vehicle registration moves up

Vehicle registration moves up

Karachi city led all other cities in Sindh province in respect of payments for Registration under the Motor vehicle head, according to the revised estimates for the current financial year.
Published 22 Jun, 2007 12:00am
Nepra workshop on energy conservation held

Nepra workshop on energy conservation held

Investment in energy conservation and load management activities are less expansion per kilowatt (kw) then installation of new generation facilities. This was discussed at a workshop on 'Conservation of Energy and Demand Side Management' organised by Nati
Published 22 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 22 Jun, 2007 12:00am
Success of budget sends opposition in jitters: Durrani

Success of budget sends opposition in jitters: Durrani

Federal Minister for Information and Broadcasting Mohammad Ali Durrani on Thursday said that success of new fiscal budget has unnerved the opposition which is now indulging in a gimmick of filing a reference against the Prime Minister.
Published 22 Jun, 2007 12:00am
New York cotton

New York cotton

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

Published 22 Jun, 2007 12:00am
Durrani castigates opposition for holding APC in London

Durrani castigates opposition for holding APC in London

Minister for Information and Broadcasting Muhammad Ali Durrani said million of rupees are being squandered on holding APC on foreign soil and that too at a time when the whole Muslim world is in shock by Britain's award of knighthood to Salman Rushdie.
Published 22 Jun, 2007 12:00am
New York cotton

New York cotton

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

Published 22 Jun, 2007 12:00am
'Muslims should acquire knowledge of science and technology'

'Muslims should acquire knowledge of science and technology'

Presiding over a lecture at the Islamic Ideology Council the Senate's Chair on Foreign Relations Mushahid Hussain Sayed reaffirmed that Islam insisted on quest of knowledge and learning, and at the same time, it gave scholars the right to differ.
Published 22 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Thursday (June 21, 2007) and the forecast for Friday (June 22, 2007).
Published 22 Jun, 2007 12:00am
Ulema Council honours Osama in Rushdie row

Ulema Council honours Osama in Rushdie row

Islamic scholars honoured Osama bin Laden on Thursday in response to Britain's knighthood for Salman Rushdie, as a senior ruling party member said he would not hesitate to kill the novelist.
Published 22 Jun, 2007 12:00am
Policy for home-based women workers urged

Policy for home-based women workers urged

The government has no concern for informal workers, as there is no policy or programme for home based workers. There is dire need to ratify ILO Convention (C-177) on Home workers. This will enable them to stand at equal footing with the workers of formal
Published 22 Jun, 2007 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The debate on cut motion cruised along nicely, and even the Speaker was indulgent towards the Opposition at the National Assembly on Thursday morning.
Published 22 Jun, 2007 12:00am
Conspiracy hatched against Chief Justice on March 12: Aitzaz

Conspiracy hatched against Chief Justice on March 12: Aitzaz

Chief Justice Iftikhar Mohammad Chaudhry's lead counsel Aitzaz Ahsan pleaded before the full Supreme Court Bench on Thursday that a conspiracy was hatched and a "coup" was staged on March 12 to remove the CJP unconstitutionally.
Published 22 Jun, 2007 12:00am
Traders offer reward for Rushdie beheading

Traders offer reward for Rushdie beheading

Traders on Thursday announced a reward of 10 million rupees (165,000 dollars) for anyone who beheads Salman Rushdie following Britain's decision to award the novelist a knighthood. The reward announcement came during a protest by 200 traders at Aabpara ma
Published 22 Jun, 2007 12:00am
TDAP hiring international consultants

TDAP hiring international consultants

The Trade Development Authority of Pakistan (TDAP) have selected two international consultants to promote the textile and apparel exports.
Published 22 Jun, 2007 12:00am
Arbab to return ancestors' awards by British rulers

Arbab to return ancestors' awards by British rulers

Chief Minster Sindh Dr Arbab Ghulam Rahim Thursday announced returning all the honours awarded to his ancestors by the British rulers and called upon all other Muslims of the province to do so and lodge peaceful protest against awarding knighthood to Salm
Published 22 Jun, 2007 12:00am
Steel traders to observe strike today

Steel traders to observe strike today

Steel traders would observe a countrywide strike on Friday in protest against 5 percent increase in sales tax on steel products in the Budget 2007-08.
Published 22 Jun, 2007 12:00am
Repatriation of Afghan DPs to be completed by 2009

Repatriation of Afghan DPs to be completed by 2009

Minister for States and Frontier Regions (SAFRON) Sardar Yar Muhammad Rind said a phased strategy has already been finalised to repatriate Afghan refugees within a period of next two years.
Published 22 Jun, 2007 12:00am
Minister vows to resolve teachers' problems

Minister vows to resolve teachers' problems

Minister of State for Education Anisa Zeb Tahirkheli said Thursday the government was committed to resolving issues being faced by teachers. She was addressing certificate-awarding ceremony of annual national primary teachers conference, organised by Mini
Published 22 Jun, 2007 12:00am
Lawyers, political parties hold rally against CJ's suspension

Lawyers, political parties hold rally against CJ's suspension

The lawyers in the metropolis took out a protest rally at the Mall Road, which was also joined by political workers and different organisations of civil society. The demonstrators later peacefully dispersed before the provincial assembly.
Published 22 Jun, 2007 12:00am
Pak-US trade ties expanding: Hunt

Pak-US trade ties expanding: Hunt

Principal Officer of the US Consulate Lahore, Bryan D Hunt on Thursday said that trade between Pakistan and USA was on the rising trend and had surged by 40 percent.
Published 22 Jun, 2007 12:00am
One-dollar shop programme: export order from US increased

One-dollar shop programme: export order from US increased

The response of 'One Dollar Shop Programme' is very positive and the export order from USA has been increased up to Rs 500 million so far. Provincial Minister for Industries, Muhammad Ajmal Cheema said this while talking to a delegation at his office here
Published 22 Jun, 2007 12:00am
Seminar on geographical indications held

Seminar on geographical indications held

A two-day seminar was held on Wednesday on the subject of Geographical Indication's under the patronage of Saeed Ahmed Alvi, Secretary Commerce and Investment Department, Government of Punjab.
Published 22 Jun, 2007 12:00am
Mango export begins from Rahim Yar Khan

Mango export begins from Rahim Yar Khan

First consignment of mangoes has been sent to Kuwait from Rahim Yar Khan and arrangements are also being made to directly export mango to other countries including Britain, Canada and Abu Dhabi and etc.
Published 22 Jun, 2007 12:00am
Crack down sought on organised beggary

Crack down sought on organised beggary

The Lahore Businessmen Association for the Disable Persons (LABARD) has urged the government to initiate a strict action against professional beggars and those anti-social elements that are creating beggars by turning children handicapped.
Published 22 Jun, 2007 12:00am
Kasuri satisfied with US assistance

Kasuri satisfied with US assistance

Foreign Minister Khurshid Kasuri has expressed satisfaction with the outcome of his visit to Washington, saying in a series of meetings with American officials he found support for long-term, broad-based and sustainable relationship between the two countr
Published 22 Jun, 2007 12:00am
References to damage parliament's structure: PML-N leader

References to damage parliament's structure: PML-N leader

Central Secretary Finance PML-N Mohammad Pervaiz Malik, MNA, has said that setting new tradition of sending references against member assemblies on political feuds would open ways to un-ending references and thus damage the parliament structure.
Published 22 Jun, 2007 12:00am
84.92 percent wheat procurement target achieved

84.92 percent wheat procurement target achieved

The Multan Food Department (MFD) has so far purchased 679,397 tons of wheat against the target of 800,000 tons, that is 84.92 percent of the revised procurement target. MFD Deputy Director Nasrullah Khan Leghari told APP here on Thursday that the pace of
Published 22 Jun, 2007 12:00am
LHCBA cancels National Assembly Speaker's membership

LHCBA cancels National Assembly Speaker's membership

The Lahore High Court Bar Association (LHCBA) has cancelled the bar membership of Speaker National Assembly Chaudhry Amir Hussain for sending the reference to Election Commissioner submitted against PTI chief Imran Khan.
Published 22 Jun, 2007 12:00am
Withdrawal of surcharge on imports hailed

Withdrawal of surcharge on imports hailed

The chairman LCCI standing committee on Customs and Ports Aftab Ahmad Vohra has hailed the Central Board of Revenue (CBR) for withdrawing one percent special surcharge on the import of inputs and raw materials by manufacturers-cum-exporters of textile, le
Published 22 Jun, 2007 12:00am
Music Day celebrations on June 23

Music Day celebrations on June 23

Five organisations of the federal capital the French Embassy and the French Cultural centre (Alliance Française) City FM 89, CDA and Vinci have pooled their efforts to celebrate the World Music day on Saturday (Tomorrow), June 23 at the Saidpur Model vill
Published 22 Jun, 2007 12:00am
Year's longest day today

Year's longest day today

Today Friday is the longest day of the year and the night the shortest. According to the Meteorological Department the total duration of day will be of 14 hours and 27 minutes and that of night, 9 hours and 33 minutes. By the end of June the day would slo
Published 22 Jun, 2007 12:00am
Lawyers observe complete strike

Lawyers observe complete strike

As many as 8,000 lawyers of 13 districts of Southern Punjab observed complete strike on Thursday. They wore black armbands and hoisted black flags atop of bar buildings at the call of Pakistan, Punjab Bar councils.
Published 22 Jun, 2007 12:00am
Two civil judges on Centre assignment

Two civil judges on Centre assignment

The Chief Justice of the Lahore High Court (LHC) placed the services of two civil judges at the disposal of government of Pakistan for their posting as registrars of accountability courts.
Published 22 Jun, 2007 12:00am
VCoAS witnesses summer exercises

VCoAS witnesses summer exercises

Vice Chief of Army Staff, General Ahsan Saleem Hyat on Thursday visited an exercise area and witnessed the troops of Lahore Garrison engaged in their Summer Collective Training. Corps Commander Lahore, Lieutenant General Shafaat Ullah Shah and General
Published 22 Jun, 2007 12:00am
Cleaning-up drive urged to preserve Naran Valley

Cleaning-up drive urged to preserve Naran Valley

People involved in tourism industry in Naran Valley have called for concerted efforts to cope with challenges marring the fascinating beauty of this wonderful valley which houses thousands of tourists.
Published 22 Jun, 2007 12:00am
Water infrastructure: World experience of arranging financing reviewed

Water infrastructure: World experience of arranging financing reviewed

The public sector funds come under pressure from competing demands of development financing and, therefore, globally the emphasis is shifting towards greater involvement of the private sector in the financing and development of infrastructure projects.
Published 22 Jun, 2007 12:00am
Opposition moves reference against Prime Minister

Opposition moves reference against Prime Minister

The combined opposition in the National Assembly on Thursday submitted a reference against Prime Minister Shaukat Aziz to the Speaker chamber challenging his membership of the Parliament.
Published 22 Jun, 2007 12:00am
Opposition moves reference against Prime Minister

Opposition moves reference against Prime Minister

The combined opposition in the National Assembly on Thursday submitted a reference against Prime Minister Shaukat Aziz to the Speaker chamber challenging his membership of the Parliament.
Published 22 Jun, 2007 12:00am
Government reacts to reference seeking Prime Minister's disqualification

Government reacts to reference seeking Prime Minister's disqualification

A panicking government reacts strongly after a charged opposition seeks the disqualification of Prime Minister Shaukat Aziz on corruption allegations. A threat of legal action was the first response came from three ministers lined up at a news conference
Published 22 Jun, 2007 12:00am
Saifullah for addressing political and economic injustices

Saifullah for addressing political and economic injustices

Federal Minister for Inter Provincial Coordination Salim Saifullah Khan stressed the need for addressing the root causes of political and economic injustices which caused poverty to dominate various parts of the globe.
Published 22 Jun, 2007 12:00am
LTU to launch project for e-filing, e-payment

LTU to launch project for e-filing, e-payment

In order to minimise interaction between the tax officials and taxpayers, the Large Taxpayers Unit (LTU) Karachi is launching pilot project for e-filing, e-payment and end-to-end process till e-refund.
Published 22 Jun, 2007 12:00am
Dry milk prices surge by Rs 2300 per 25 kg in four months

Dry milk prices surge by Rs 2300 per 25 kg in four months

Dry milk prices have shot up by Rs 2300 per 25 kg during last four months due to hoarding of the commodity by importers, and its prices have reached $3700 per ton from $2700 per ton in the world market, sources said on Thursday.
Published 22 Jun, 2007 12:00am
Apparel Forum threatens to shut down units

Apparel Forum threatens to shut down units

The Pakistan Apparel Forum (PAF) has warned of catastrophic consequences if demands of the "value added" sector were not met on war footing. PAF, in a press release on Wednesday, cautioned that if the government failed to comply with their demands immedia
Published 22 Jun, 2007 12:00am
Body on Sida and Irri department to solve issues soon

Body on Sida and Irri department to solve issues soon

Sindh Irrigation and Drainage Authority (Sida) Managing Director Muhammad Hashim Legari has said the government will set up committee for removing the problems between Sida and Irrigation Department officials.
Published 22 Jun, 2007 12:00am
Singapore tourism board to hold seminars on health care

Singapore tourism board to hold seminars on health care

Head of the delegation of Singapore Tourism Board, Ms Elaine Lim Gek Lin has said that Singapore Tourism Board health wing has made a plan to hold seminars on health care as well as send experts team of doctors to help people in Pakistan in health sector.
Published 22 Jun, 2007 12:00am
World's biggest park to be set up in Karachi

World's biggest park to be set up in Karachi

The world's biggest park would be established on the Malir River bed in Karachi. A meeting was held at the Governor House here on Thursday in which the initial phase of setting up of the " River Valley Park" was reviewed.
Published 22 Jun, 2007 12:00am
'Skilled workforce needed for rapid industrialisation'

'Skilled workforce needed for rapid industrialisation'

Any thinking and people pro-active government needs to make optimum use of its workforce and that needs creation of vocational centres in a society like ours. The demand-supply gap of skilled workforce still persists in our country, said some leading econ
Published 22 Jun, 2007 12:00am
Boeing releases 777 freighter design

Boeing releases 777 freighter design

Engineers of the Boeing Company have recently completed 50 percent of the design for the new 777 freighter. The completion of this work means that half of the detailed design of the 777 freighter is defined and has been released to Boeing factories and it
Published 22 Jun, 2007 12:00am
Apta seeks relief for spinning sector

Apta seeks relief for spinning sector

The chairman of All Pakistan Textile Association (Apta) has said that the recently launched economic survey and the State Bank of Pakistan (SBP) third quarter report show that the service industry, especially the banking industry has progressed and expand
Published 22 Jun, 2007 12:00am
Ban on wheat export to continue till price stability: Ashfaq

Ban on wheat export to continue till price stability: Ashfaq

Advisor to Ministry of Finance, Dr Ashfaq Hassan Khan Thursday said that government would not allow the export of wheat till the prices come down to the level that prevailed during May in the domestic market.
Published 22 Jun, 2007 12:00am
Rushdie's knighthood: SCBA condemns UK government

Rushdie's knighthood: SCBA condemns UK government

The Supreme Court Bar Association (SCBA) has condemned the action of British government of awarding the title of 'Sir' to Salman Rushdie and announced black day on Friday for not withdrawing the same.
Published 22 Jun, 2007 12:00am
UN Public Service Day on June 23

UN Public Service Day on June 23

The United Nations World Public Service Day will be observed on June 23. On this occasion, lectures, seminars, and other functions will be organised in different countries, where experts would inform the people about the UN efforts to establish peace thro
Published 22 Jun, 2007 12:00am
Declaring sales at retail level

Declaring sales at retail level

The government is likely to amend Finance Bill 2007 to make it mandatory for retailers to declare their last year's sales in the income tax returns they will file in September 2007, says a Recorder Report. The amendment has been necessitated to inc
Published 22 Jun, 2007 12:00am
Satan's knighthood

Satan's knighthood

Salman Rushdie is decidedly the most hated person in the Muslim world. He has earned this infamy for the Satanic Verses he wrote in the 80's, which had caused immense pain to Muslims all over the globe. But over the years he was slowly disappearing from t
Published 22 Jun, 2007 12:00am
On Nile patrol with the UN in southern Sudan

On Nile patrol with the UN in southern Sudan

The pair of white river launches marked with United Nations insignia leapt forward as the sailors opened the throttles, cutting deep trenches into the dark waters of southern Sudan's Blue Nile. For the people of the riverside town of Malakal the sight of
Published 22 Jun, 2007 12:00am
Lack of postal facilities

Lack of postal facilities

There is no post office within 6-7 kms range in block-8, Sector 39-A&B, Scheme-33 of Gulistan-e-Jauhar, Karachi.
Published 22 Jun, 2007 12:00am
'Islamophobia'

'Islamophobia'

This refers to the news report in various newspapers concerning the knighthood bestowed upon Salman Rushdie.
Published 22 Jun, 2007 12:00am
'Banks authorised to write-off bad loans'

'Banks authorised to write-off bad loans'

The State Bank of Pakistan (SBP) has authorised banks to write off bad and irrecoverable loans themselves with the approval of the board of directors (BoD) under a well-defined and transparent write off policy.
Published 22 Jun, 2007 12:00am
Pakistan and India should move to dispute resolution: Kasuri

Pakistan and India should move to dispute resolution: Kasuri

Foreign Minister Khurshid Kasuri has said there has been significant improvement in atmospherics between India and Pakistan as a result of the peace process and emphasised that now the two countries need to move to dispute resolution, especially the core
Published 22 Jun, 2007 12:00am
US MIDDAY: gold declines

US MIDDAY: gold declines

US gold futures slipped early on Thursday as speculative sellers pushed prices down through prior lows, setting off stop loss orders, using a firmer dollar and a rise in longer-dated US interest rates as the trigger, analysts said.
Published 22 Jun, 2007 12:00am
US MIDDAY: copper futures down

US MIDDAY: copper futures down

US copper futures were down over 1 percent in early trade on Thursday after a hefty build in London warehouse stocks fuelled speculation of slowing demand, traders and analysts said. However, the bullish backdrop of unresolved labour disputes in Canada an
Published 22 Jun, 2007 12:00am
US MIDDAY: soyabeans fall

US MIDDAY: soyabeans fall

Chicago Board of Trade soyabean futures were lower early on Thursday amid less-threatening weather outlooks for crops in the eastern US Midwest, traders said. Forecasts for the six- to 10-day period called for hot, dry conditions early in the period with
Published 22 Jun, 2007 12:00am
US MIDDAY: corn lower

US MIDDAY: corn lower

Corn futures at the Chicago Board of Trade were lower early on Thursday on a profit-taking setback from the gains posted on Wednesday, traders said. "It's still weather but today there are conflicting signals, they want to see the next weather forecast,"
Published 22 Jun, 2007 12:00am
US MIDDAY: wheat firms

US MIDDAY: wheat firms

Soft red winter wheat futures at the Chicago Board of Trade were mostly firm at midday on Thursday but nearby contracts were choppy, retreating from early strength in spread-dominated trade, traders said. Front-month July wheat turned lower at times as fi
Published 22 Jun, 2007 12:00am
Gold extends losses

Gold extends losses

Gold extended losses on Thursday to slip to its lowest in nearly a week as a firmer dollar and rising bond yields triggered more selling, traders said. Gold fell as low as $649.90 an ounce, the weakest since June 15, and was quoted at $652.00/652.50 by 14
Published 22 Jun, 2007 12:00am
Lead sets fresh high, copper slips

Lead sets fresh high, copper slips

Copper slipped on Thursday after a hefty rise in inventories but strike threats at mines supported prices and lead set a fresh record high. Copper for three-months delivery on the London Metal Exchange (LME) ended the day at $7,445 a tonne, down $65 from
Published 22 Jun, 2007 12:00am
Split coffee cherries spoil Brazil quality, yield

Split coffee cherries spoil Brazil quality, yield

Dry and sunny weather in recent weeks caused premature ripening of coffee cherries and a decline in yield and quality, the leader of the Brazilian Specialty Coffee Association (BSCA) said on Thursday.
Published 22 Jun, 2007 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures finished mixed Thursday as renewed speculative fund buying swiftly erased losses from an early downturn, powering the spot contract to a 3-1/2 month high, analysts said. The New York Board of Trade's open-outcry July cotton contract surged
Published 22 Jun, 2007 12:00am
Malaysian palm oil seen at 2,200-2,400 ringgit per tonne

Malaysian palm oil seen at 2,200-2,400 ringgit per tonne

Malaysian crude palm oil is expected to trade between 2,200-2,400 ringgit a tonne over the next month, leading industry analyst Dorab Mistry said recently. The benchmark third-month August contract finished down 83 ringgit, or 3.4 percent, at 2,350 ringgi
Published 22 Jun, 2007 12:00am
Oil prices remain down

Oil prices remain down

Oil prices eased further on Thursday, pressured by bulging US crude stockpiles and expectations that a strike in Nigeria would not slow shipments from the eighth largest oil exporter.
Published 22 Jun, 2007 12:00am
Gold move above $700 may be hard to sustain now

Gold move above $700 may be hard to sustain now

Gold bulls are watching every economic number to see if the market could return to $700 an ounce but the calm in the US economy may not help sustain such prices, a fund manager invested in precious metals said.
Published 22 Jun, 2007 12:00am
EU and Ecuador seek deal on banana import duty

EU and Ecuador seek deal on banana import duty

EU negotiators are talking unofficially with the world's top banana exporter Ecuador on how to cut Europe's import duty for the fruit, hoping to avoid the effects of a global trade lawsuit, officials said on Thursday.
Published 22 Jun, 2007 12:00am
FTSE keeps sliding

FTSE keeps sliding

British shares ended lower for the fourth day in a row on Thursday, as global rates worries compounded by concerns of an imminent rise in UK borrowing costs knocked real estate stocks and retailers off their feet. The FTSE closed down 0.8 percent at 6,596
Published 22 Jun, 2007 12:00am
Philippines shares lower

Philippines shares lower

Philippines share prices closed 0.12 percent lower on Thursday as investors locked in profits on the back of strong gains in previous sessions, dealers said. Property developers were among those that suffered the most with late gains in market leader Phil
Published 22 Jun, 2007 12:00am
US Stocks: Thursday's early afternoon trade

US Stocks: Thursday's early afternoon trade

US stocks were trading higher on Thursday, in a whipsaw session after several brokerage upgrades on microchip makers sent the semiconductor sector to a one-year high. The Philadelphia Stock Exchange Semiconductor Index jumped 2.7 percent, climbing to its
Published 22 Jun, 2007 12:00am
European credit markets volatile

European credit markets volatile

European credit markets were volatile on Thursday, spooked by worries about troubled hedge funds linked to the risky US subprime mortgage sector. The Crossover index, made up of 50 mostly "junk"-rated credits, traded 10 basis points wider at 210 basis poi
Published 22 Jun, 2007 12:00am
European credit markets volatile

European credit markets volatile

European credit markets were volatile on Thursday, spooked by worries about troubled hedge funds linked to the risky US subprime mortgage sector. The Crossover index, made up of 50 mostly "junk"-rated credits, traded 10 basis points wider at 210 basis poi
Published 22 Jun, 2007 12:00am
Yen hits 4-1/2 year low

Yen hits 4-1/2 year low

The yen hit a 4-1/2 year low against the dollar on Thursday while the New Zealand dollar surged to 22-year peaks as risk-hungry investors sold the low-yielding Japanese currency in favour of high return assets.
Published 22 Jun, 2007 12:00am
Pound rises across-the-board

Pound rises across-the-board

Sterling hit a four-month high against a basket of currencies on Thursday, extending gains made the previous day after Bank of England minutes suggested that interest rates will rise in July, rather than August.
Published 22 Jun, 2007 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee moved up on Thursday on foreign investment flows and as exporters repatriated profits, but the central bank intervened to thwart the gains, dealers said. The partially convertible rupee ended at 40.71/72 per dollar, moving up from Wednesd
Published 22 Jun, 2007 12:00am
Abbas and Olmert to meet in Egypt for talks on Gaza

Abbas and Olmert to meet in Egypt for talks on Gaza

The Palestinian and Israeli leaders agreed on Thursday to meet for the first time in two months after the violent Islamist take-over of the Gaza Strip prompted each side to adopt a common approach to the enclave.
Published 22 Jun, 2007 12:00am
Bangladeshi former minister jailed

Bangladeshi former minister jailed

An anti-corruption court in Bangladesh on Thursday sentenced a former minister to 13 years in jail for amassing wealth through illegal means, the first conviction of a government leader since a crackdown began this year.
Published 22 Jun, 2007 12:00am
Space shuttle landing delayed by Florida weather

Space shuttle landing delayed by Florida weather

Bad weather forced NASA to skip a first opportunity on Thursday to bring space shuttle Atlantis back to Earth but the US space agency could make another attempt later in the day.
Published 22 Jun, 2007 12:00am
Saudi king meets Sarkozy

Saudi king meets Sarkozy

Saudi King Abdullah, on a week-long visit to Europe, met Thursday with France's newly elected President Nicolas Sarkozy to discuss bilateral economic cooperation. The trip to France was meant to precede a Paris meeting aimed at ending the crippling politi
Published 22 Jun, 2007 12:00am
Thaksin formally charged for land deal

Thaksin formally charged for land deal

Thai state prosecutors formally charged ousted Prime Minister Thaksin Shinawatra with "official misconduct" on Thursday relating to his wife's purchase of a prime piece of Bangkok real estate, a court official said.
Published 22 Jun, 2007 12:00am
Khatami denies shaking hands with women

Khatami denies shaking hands with women

Iran's former reformist president Mohammad Khatami on Thursday vehemently denied breaking Islamic rules by shaking hands with women on a trip to Italy, amid growing condemnation from conservatives.
Published 22 Jun, 2007 12:00am
Thousands flock to Glastonbury festival

Thousands flock to Glastonbury festival

Tens of thousands of people flocked to Glastonbury for the world's biggest green field arts and music festival on Thursday and with rain falling and more forecast to come mud-lovers might not be disappointed.
Published 22 Jun, 2007 12:00am
Tense showdown looms over new treaty at EU summit

Tense showdown looms over new treaty at EU summit

European Union leaders faced a showdown at a summit on Thursday over efforts to reform the bloc's creaking institutions, but chances of agreement seemed to rise after chief critic Poland softened its tone.
Published 22 Jun, 2007 12:00am
Russian general derides, warns US on missile shield

Russian general derides, warns US on missile shield

Russia's top general on Thursday ridiculed US plans to deploy a missile shield in Europe as unworkable and warned Washington that Moscow could react with military force if it felt threatened.
Published 22 Jun, 2007 12:00am
North Korea puts nuclear monitors' return on hold

North Korea puts nuclear monitors' return on hold

North Korea said on Thursday a planned visit by UN nuclear monitors was on hold because it had not received unfrozen bank funds, shaking hopes Pyongyong would start disabling its atom bomb programme soon.
Published 22 Jun, 2007 12:00am
Somali authorities impose curfew as killings mount

Somali authorities impose curfew as killings mount

Somali authorities have announced plans to impose a curfew on the capital, where at least five people were killed on Thursday in the latest violence to undermine government attempts to restore law.
Published 22 Jun, 2007 12:00am
Palestinian US women and children evacuated from Gaza

Palestinian US women and children evacuated from Gaza

Around 30 American Palestinians, mainly women and children, were evacuated from the Hamas-run Gaza Strip into Israel on Thursday, many of them deeply shaken and desperate to leave.
Published 22 Jun, 2007 12:00am
Iraq government and Kurds reach deal on oil revenue

Iraq government and Kurds reach deal on oil revenue

Kurdish officials said on Thursday they had reached agreement with the central government on equitably sharing revenues from Iraq's oilfields but that negotiations would continue on other disputed clauses.
Published 22 Jun, 2007 12:00am
Brown offers cabinet post to opposition

Brown offers cabinet post to opposition

Britain's next leader Gordon Brown offered a cabinet post to the former head of the opposition Liberal Democrats in a move aimed at broadening his government's appeal that may backfire. Finance minister Brown takes over from Tony Blair next week and has s
Published 22 Jun, 2007 12:00am
South Korean president files petition over freedom of speech

South Korean president files petition over freedom of speech

South Korean President Roh Moo-Hyun on Thursday appealed to the Constitutional Court against a ruling that his attacks on the opposition are illegal, as the political temperature rose before December's presidential poll.
Published 22 Jun, 2007 12:00am
Indian police charge three-year old for rioting

Indian police charge three-year old for rioting

Police in India have charged a three-year-old boy for allegedly leading a group of rioters and firing at security personnel, the toddler's uncle said Thursday. The incident dates back to a clash in the eastern state of Bihar between villagers and police i
Published 22 Jun, 2007 12:00am
Chinese province to ban cheap bricks to fight slavery

Chinese province to ban cheap bricks to fight slavery

A Chinese province at the centre of a scandal over forced labour at brick kilns will ban the making of cheap bricks but not for another 18 months in an effort to end the practice, the official Xinhua news agency said.
Published 22 Jun, 2007 12:00am
Putin to attend Balkan energy summit

Putin to attend Balkan energy summit

Russian President Vladimir Putin is to visit Croatia on Sunday to attend a summit on the future of energy in south-eastern Europe along with eight counterparts from the region.
Published 22 Jun, 2007 12:00am
North Korea threatens to sink South Korean warships

North Korea threatens to sink South Korean warships

North Korea warned South Korea on Thursday it would attack and sink any warships that continued to cross a disputed border in the Yellow Sea. North Korea's navy command said a dispute between the neighbours over the border in the Yellow Sea, the scene of
Published 22 Jun, 2007 12:00am
Mali editors held over fictional president's fling

Mali editors held over fictional president's fling

A high school essay assignment in Mali on the sexual indiscretions of an imaginary president has landed five journalists and a teacher in jail charged with offending the real president.
Published 22 Jun, 2007 12:00am
South Africa set to play Test in Karachi

South Africa set to play Test in Karachi

South Africa will play a Test and a warm-up match in Karachi. The itinerary for their tour announced by the Pakistan Cricket Board (PCB) on Thursday includes two Tests, a three-day match and five one-day internationals.
Published 22 Jun, 2007 12:00am
Whatmore confident on Pakistan challenge

Whatmore confident on Pakistan challenge

Australian Dav Whatmore said Thursday he would be up to the challenge of being Pakistan's next cricket coach and is confident he can guide the team to better results. The 53-year-old former Bangladesh coach was interviewed by a Pakistan Cricket Board (PCB
Published 22 Jun, 2007 12:00am
Sri Lanka goes easy on Atapattu

Sri Lanka goes easy on Atapattu

Former Sri Lanka captain Marvan Atapattu will not be subjected to a disciplinary inquiry despite his self-imposed absence from the home series against Bangladesh, officials said here Thursday. It was initially expected that Sri Lanka Cricket (SLC) would a
Published 22 Jun, 2007 12:00am
Henin races into Eastbourne semi-finals

Henin races into Eastbourne semi-finals

World number one Justine Henin brushed aside Czech teenager Nicole Vaidisova to reach the semi-finals of the Eastbourne International grasscourt tournament on Thursday. Henin, the defending champion at the Wimbledon warm-up event, won 6-2 6-2 in 55 minute
Published 22 Jun, 2007 12:00am
Pietersen rules out one-day captaincy

Pietersen rules out one-day captaincy

Kevin Pietersen on Thursday pulled out of the running to be England's new one-day captain following Michael Vaughan's decision to concentrate on his role at the helm of the Test side.
Published 22 Jun, 2007 12:00am
U-13 soccer team to get cash prizes on June 30

U-13 soccer team to get cash prizes on June 30

President, Pakistan Football Federation (PFF) Makhdoom Syed Faisal Saleh Hayat, will present cash prizes to the members of Pakistan Under-13 football team on Saturday, June 30 here at FIFA Football House. It may be mentioned that Pakistan U-13 football te
Published 22 Jun, 2007 12:00am
Hong Kong dollar edges higher

Hong Kong dollar edges higher

The Hong Kong dollar edged higher on Thursday, partly boosted by a rally in the stock market on expectations of fund inflows after China expanded its QDII scheme. The domestic currency was trading at 7.8130/32 against the US dollar, having touched a sessi
Published 22 Jun, 2007 12:00am
Asian currencies mostly steady

Asian currencies mostly steady

The Indonesian rupiah and Philippine peso fell on Thursday as investors trimmed riskier positions after a sell-off in US stocks and bonds, but Asia's resilient equity markets underpinned most regional currencies.
Published 22 Jun, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 68.90/69.02 (previous 68.86/69.03). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.75 percent.
Published 22 Jun, 2007 12:00am
Sterling and Swedish crown climb

Sterling and Swedish crown climb

Sterling rose on Wednesday after minutes from a Bank of England policy meeting were perceived by the market as pointing to a UK rate rise as early as next month, while the dollar crept lower against most major currencies.
Published 22 Jun, 2007 12:00am
Low yield pins yen near 4-1/2-year

Low yield pins yen near 4-1/2-year

The yen hung near a 4-1/2-year low versus the dollar on Thursday, weighed down as investors continued to use the currency to buy higher-yielding units such as the New Zealand dollar in carry trades.
Published 22 Jun, 2007 12:00am
Yuan closes lower

Yuan closes lower

China's yuan closed slightly weaker against the dollar on Thursday, staging a mild correction guided by the central bank after hitting post-revaluation highs in each of the previous six trading sessions.
Published 22 Jun, 2007 12:00am
Swiss franc holds off multi-year low

Swiss franc holds off multi-year low

The Swiss franc dipped in early trading on Thursday but held off nine-year lows against the euro after strong inflation data had raised speculation about more aggressive interest rate hikes in Switzerland.
Published 22 Jun, 2007 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.12 percent higher on Thursday, at another record high as investors ignored Wall Street's overnight slump, dealers said. However, they said considerable profit-taking, especially on big-cap stocks, limited the market's upsid
Published 22 Jun, 2007 12:00am
China's main stock index rises 1.18 percent

China's main stock index rises 1.18 percent

Financial heavyweights and other blue chips helped China's main stock index rise 1.18 percent on Thursday, but most stocks continued to fall because of worries about government policy and the supply of shares. The Shanghai Composite Index rebounded from W
Published 22 Jun, 2007 12:00am
Tokyo stocks edge up to seven-year high

Tokyo stocks edge up to seven-year high

The Nikkei nudged up 0.16 percent to its highest close in seven years on Thursday as chip-related stocks such as Tokyo Electron rose on surging DRAM chip prices, while Mitsubishi Corp and others seen as benefiting from the global economic expansion climbe
Published 22 Jun, 2007 12:00am
Singapore shares resume record-breaking run

Singapore shares resume record-breaking run

Singapore share prices surged to a new all-time closing high on Thursday on buying in selected blue chips, dealers said. The Straits Times Index rose 10.82 points or 0.30 percent to 3,639.49, erasing the previous peak of 3,629.55 points set on Tuesday.
Published 22 Jun, 2007 12:00am
Taiwan stocks continue winning strerak

Taiwan stocks continue winning strerak

Taiwan stocks rose 1.1 percent on Thursday to another seven-year closing high, bolstered by gains in DRAM chip makers such as Nanya Technology Corp amid recovering PC demand. The main TAIEX share index reversed early losses to close up 96.11 points at 8,8
Published 22 Jun, 2007 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Wednesday, ending a three-day rally as weakness in the European government bond market spilled into its US counterpart.
Published 22 Jun, 2007 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Wednesday, ending a three-day rally as weakness in the European government bond market spilled into its US counterpart.
Published 22 Jun, 2007 12:00am
Indian shares make gains

Indian shares make gains

Indian share prices closed 0.61 percent higher on Thursday in volatile trade led by banks on sustained interest in the ICICI share offer, dealers said. They said investors locked-in gains during the day but the market bounced back in late trade.
Published 22 Jun, 2007 12:00am
US indexes drop on oil and investment banks

US indexes drop on oil and investment banks

US stocks slumped on Wednesday, as a drop in oil prices dragged down energy shares, and a possible collapse of two big hedge funds hit investment banks, overshadowing Morgan Stanley's strong profit.
Published 22 Jun, 2007 12:00am
Hong Kong shares at record high

Hong Kong shares at record high

Hong Kong stocks struck life highs on Thursday as investors bet on rising fund flows from mainland China after Beijing issued new rules allowing fund managers and brokerages to invest in overseas securities.
Published 22 Jun, 2007 12:00am
Thai share prices slightly lower

Thai share prices slightly lower

Thai share prices closed 0.12 percent lower on Thursday as investors were worried over possible violence at a weekend rally against the country's army-installed government, dealers said. They said investors also locked in profits in banking and energy sto
Published 22 Jun, 2007 12:00am
Seoul shares surge

Seoul shares surge

Seoul shares rose 0.6 percent on Thursday, as chip makers such as Hynix Semiconductor surged following a gain in DRAM spot prices, while Daewoo Shipbuilding towed peers higher after posting strong May earnings. Woori Financial Group jumped 3.91 percent to
Published 22 Jun, 2007 12:00am
LSE board submits $2 billion Borsa bid

LSE board submits $2 billion Borsa bid

The London Stock Exchange has submitted to Borsa Italiana a share-based take-over offer worth about 1.5 billion euros ($2 billion), a person familiar with the situation said on Thursday. The board of the LSE earlier approved the bid proposal and a Borsa I
Published 22 Jun, 2007 12:00am
Bangladesh refuses to slash tariffs on industry

Bangladesh refuses to slash tariffs on industry

Bangladesh's finance adviser to the army-backed interim government on Thursday turned down a proposal to withdraw duties on raw materials, arguing that local manufacturers need to be more competitive in the age of the free market economy.
Published 22 Jun, 2007 12:00am
AT&T hires 2,000 extra workers for iPhone launch

AT&T hires 2,000 extra workers for iPhone launch

AT&T Inc said on Thursday it has hired 2,000 temporary store workers to handle its much-hyped introduction of the iPhone, the first cell phone from iPod music player maker Apple Inc. The biggest US wireless service provider by customer numbers will be the
Published 22 Jun, 2007 12:00am
Strike paralyses economic activity in Nigeria

Strike paralyses economic activity in Nigeria

A general strike to protest against a rise in fuel prices paralysed most economic activity in Nigeria for a second day on Thursday, but unions spared vital oil exports. The strike in Africa's top oil producer is the first major challenge for newly inaugur
Published 22 Jun, 2007 12:00am
Japanese exports grow

Japanese exports grow

Japanese exports grew more than expected in May, a boon for Japan's export-led economic growth that strengthened expectations of a Bank of Japan rate hike some time in the July-September quarter, most likely in August.
Published 22 Jun, 2007 12:00am
Euro's rise hits German exports

Euro's rise hits German exports

The euro's strength against the dollar has diminished Germany's export vitality but domestic demand is picking up and the economy is in good health overall, the Finance Ministry said on Thursday.
Published 22 Jun, 2007 12:00am
Consumers trail optimistic businesses in eurozone

Consumers trail optimistic businesses in eurozone

European business boomed again this month but consumers in France and Italy failed to share all the optimism, economic surveys showed on Thursday. French spending on clothes slumped in May and depressed overall expenditure on manufactured goods unexpected
Published 22 Jun, 2007 12:00am
Airbus edging ahead of Boeing in 2007 orders

Airbus edging ahead of Boeing in 2007 orders

After a frenzied four days of deals at the Paris Air Show, Europe's Airbus appears to have booked enough orders to move ahead of rival Boeing Co in the sales race this year. Airbus, a unit of EADS, sold less than half as many planes as Boeing over the fir
Published 22 Jun, 2007 12:00am
Manchester City gives Thaksin bid the go-ahead

Manchester City gives Thaksin bid the go-ahead

Manchester City said on Thursday the Premier League club were backing an 81.6 million pounds ($162.6 million) take-over bid led by ousted Thai Prime Minister Thaksin Shinawatra. City said its board intended to recommend the bid from UK Sports Investments,
Published 22 Jun, 2007 12:00am
US Mid-Atlantic factories robust

US Mid-Atlantic factories robust

Manufacturing growth in the US Mid-Atlantic region accelerated much more than expected in June, suggesting the nation-wide factory sector could be in for a surprisingly strong recovery, data showed on Thursday.
Published 22 Jun, 2007 12:00am
US Treasury eyes IMF and World Bank wealth fund guide

US Treasury eyes IMF and World Bank wealth fund guide

The US Treasury on Thursday called on the International Monetary Fund and the World Bank to develop a best practices guide for fast-growing sovereign wealth funds that invest foreign exchange assets.
Published 22 Jun, 2007 12:00am
'Opec has no objection to alternative sources'

'Opec has no objection to alternative sources'

Opec needs to know how much biofuel will be produced in the future but has no objections to alternative energy sources, its Secretary General Abdullah al-Badri said on Thursday.
Published 22 Jun, 2007 12:00am
Canada retail sales throw doubt on rate-hike

Canada retail sales throw doubt on rate-hike

Growth in Canadian retail sales in April was lower than expected, undermining the widely-held view that a Bank of Canada interest rate hike in July is almost a certainty. Retail sales climbed 0.4 percent in April from March, largely on the strength of new
Published 22 Jun, 2007 12:00am
China's banks face tough road

China's banks face tough road

China's fledging commercial banks are still hampered by weak lending practices that could provoke a new wave of bad loans if the booming economy were to slow, a senior analyst said. "The key question to ask is can the economy continue to grow very strongl
Published 22 Jun, 2007 12:00am
Western firms unaware of emerging economies: survey

Western firms unaware of emerging economies: survey

Western companies exhibit a worrying lack of awareness about emerging markets like India that are reshaping global business, according to a British Telecom survey released here Thursday.
Published 22 Jun, 2007 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian crude palm oil futures rebounded from losses to end higher on Thursday, lifted by speculative buying and firmer prices of rival US soyabean oil. Fears over declining exports and rising supplies had weighed on the market, dealers said.
Published 22 Jun, 2007 12:00am
Tocom rubber creeps up

Tocom rubber creeps up

Tokyo rubber futures edged higher on short-covering on Thursday after the key contract fell to a three-month low, but gains were limited by profit taking. The benchmark rubber contract on Tokyo Commodity Exchange for November delivery rose 0.8 yen to sett
Published 22 Jun, 2007 12:00am
CBoT rice higher

CBoT rice higher

Rough rice futures on the Chicago Board of Trade closed higher on Wednesday as a rally in wheat futures triggered light speculative buying, traders said. CBOT July rice settled up 14 cents at $10.76 per hundredweight, staying inside of Tuesday's trading r
Published 22 Jun, 2007 12:00am
Soyabeans up on short-covering

Soyabeans up on short-covering

Soyabean futures on the Chicago Board of Trade climbed on Wednesday as firms covered short positions amid extended forecasts for drier weather in the eastern US Midwest, which has received limited rains this season, traders said.
Published 22 Jun, 2007 12:00am
New York sugar sags to mixed close

New York sugar sags to mixed close

Raw sugar futures settled mixed on Wednesday after speculative sales blunted advance and a lack of leads may keep the sweetener pinned in a band for now, brokers said. The New York Board of Trade's July raw sugar contract shed 0.07 cent to end at 8.93 cen
Published 22 Jun, 2007 12:00am
India doubles sugar stocks

India doubles sugar stocks

India on Thursday more then doubled the quantity of sugar that can be kept in reserve stocks to help mills hit by falling prices and weak exports, but traders said any benefits would be short-lived.
Published 22 Jun, 2007 12:00am
Copper little changed

Copper little changed

Base metals markets were steady on Thursday, as copper prices in Shanghai and London drifted, but supply concerns were uppermost on investors' minds. The most-active September copper contract on the Shanghai Futures Exchange was up 50 yuan at 64,830 yuan
Published 22 Jun, 2007 12:00am
Oil holds over $70

Oil holds over $70

Oil prices nudged higher on Thursday after slumping 2 percent on data showing a surge in US crude stocks, with dealers refocusing on a general strike in Nigeria and unusually low US refinery operations. London benchmark Brent crude rose 27 cents to $70.69
Published 22 Jun, 2007 12:00am
Bangladesh tenders to import 138,000 tonnes of wheat

Bangladesh tenders to import 138,000 tonnes of wheat

Bangladesh have issued a tender to import 138,000 tonnes of wheat by November to meet domestic demand in winter, food officials said on Thursday. The tender will close on August 13, with validity up to September 2.
Published 22 Jun, 2007 12:00am
Malaysian tin ends flat

Malaysian tin ends flat

Malaysian tin ended unchanged on Thursday despite a drop in London Metal Exchange prices, due to technical correction and supported by foreign demand, one dealer said.
Published 22 Jun, 2007 12:00am
Gold bounces in cautious trade

Gold bounces in cautious trade

Gold bounced in cautious trade on Thursday after falling more than 1 percent in New York, while Tokyo futures tracked losses in New York and traded below two-week highs hit the previous day. Other precious metals were mixed, with a late rebound in Japanes
Published 22 Jun, 2007 12:00am
US gold settles lower

US gold settles lower

US gold futures held onto losses triggered by falling oil prices and unloading of weak long positions into on Wednesday's close, traders said. Rising United States interest rates helped fuel gold selling as some participants worry that tighter liquidity c
Published 22 Jun, 2007 12:00am
US copper futures end firm

US copper futures end firm

US copper futures ended near their session highs on Wednesday as lingering strike threats boosted values and traders focused on rolling positions from the nearby July contract ahead of its first notice day at the end of the month, traders and analysts sai
Published 22 Jun, 2007 12:00am
MGE wheat sharply higher

MGE wheat sharply higher

Spring wheat futures on the Minneapolis Grain Exchange closed sharply higher on Wednesday, with spot July hitting a fresh 11-year high as the Chicago and Kansas City wheat markets surged, traders said. Concerns about tightening world supplies harvest dela
Published 22 Jun, 2007 12:00am
New York coffee up

New York coffee up

US arabica coffee closed higher on Wednesday as position rolling out of the July contract into September ahead of the front month's first notice day on Thursday remained the dominant feature, traders said. "(There was) mostly speculative interest on the b
Published 22 Jun, 2007 12:00am
New York cocoa slides

New York cocoa slides

US cocoa futures closed down on Wednesday, on pressure from speculative long liquidation and the weak London market, traders said. "We feel there might have been a little origin pressure on the market today," one trader said.
Published 22 Jun, 2007 12:00am
NYBoT cotton stocks stands

NYBoT cotton stocks stands

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of June 19 totalled 710,333 (480-lb) bales, from 710,333 bales the previous session. There were 1,313 bales issued, 8,152 bales were awaiting
Published 22 Jun, 2007 12:00am
Upsurge in cotton prices

Upsurge in cotton prices

Quantum jump in New York cotton futures prices in recent weeks coupled with widespread rains in the cotton belt in Punjab now also extending to several areas of the cotton belt in Sindh has resulted in upswing in domestic lint prices.
Published 22 Jun, 2007 12:00am
Producers reject LPG policy rules

Producers reject LPG policy rules

The producers on Thursday rejected liquefied petroleum gas (LPG) policy rules 2007, and asked the ministry to take corrective measures to make them practicable.
Published 22 Jun, 2007 12:00am
Upsurge in cotton prices

Upsurge in cotton prices

Quantum jump in New York cotton futures prices in recent weeks coupled with widespread rains in the cotton belt in Punjab now also extending to several areas of the cotton belt in Sindh has resulted in upswing in domestic lint prices.
Published 22 Jun, 2007 12:00am
Producers reject LPG policy rules

Producers reject LPG policy rules

The producers on Thursday rejected liquefied petroleum gas (LPG) policy rules 2007, and asked the ministry to take corrective measures to make them practicable.
Published 22 Jun, 2007 12:00am
Barley, oilcake turn higher on grain market

Barley, oilcake turn higher on grain market

A few transactions were seen on the grain market on Thursday as leading buyers were conspicuous by their absence, dealers said. On the cereal side, barley Sindh and Mardan gained Rs 25 to Rs 1575-1725. Other commodities did not move any side due to balanc
Published 22 Jun, 2007 12:00am
Producers reject LPG policy rules

Producers reject LPG policy rules

The producers on Thursday rejected liquefied petroleum gas (LPG) policy rules 2007, and asked the ministry to take corrective measures to make them practicable.
Published 22 Jun, 2007 12:00am
Jute goods down in Jodia Bazaar

Jute goods down in Jodia Bazaar

The trading on jute goods moved down on Jodia Bazaar here on Thursday. The following variations were noted.
Published 22 Jun, 2007 12:00am
Finance Bill: sketchy sales tax amendment proposed

Finance Bill: sketchy sales tax amendment proposed

The Central Board of Revenue (CBR) has proposed a sketchy sales tax amendment in the Finance Bill (2007-2008) to force the corporate sector for submitting audited accounts to the Collectors of Sales Tax duly certified by the auditors.
Published 22 Jun, 2007 12:00am
Tunisia buys milling wheat and barley

Tunisia buys milling wheat and barley

Tunisia's state grains agency has purchased 117,000 tonnes of soft milling wheat and 92,000 tonnes of barley in a snap tender, European traders said on Thursday. Origin was optional but thought likely to be from the Black Sea region, Russia, Kazakhstan or
Published 22 Jun, 2007 12:00am
Finance Bill: sketchy sales tax amendment proposed

Finance Bill: sketchy sales tax amendment proposed

The Central Board of Revenue (CBR) has proposed a sketchy sales tax amendment in the Finance Bill (2007-2008) to force the corporate sector for submitting audited accounts to the Collectors of Sales Tax duly certified by the auditors.
Published 22 Jun, 2007 12:00am
Activity picks up on cotton market

Activity picks up on cotton market

Trading activity picked up on the cotton market on Thursday as many spinners were active amid hovering fears that recent rains in Punjab cotton belt may delay arrival and may cause higher trend in the prices, dealers said.
Published 22 Jun, 2007 12:00am
Finance Bill: sketchy sales tax amendment proposed

Finance Bill: sketchy sales tax amendment proposed

The Central Board of Revenue (CBR) has proposed a sketchy sales tax amendment in the Finance Bill (2007-2008) to force the corporate sector for submitting audited accounts to the Collectors of Sales Tax duly certified by the auditors.
Published 22 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December gained on strong demand on the forward cottonseed oilcake market on Thursday, dealers said. The July vaida was unchanged at Rs 650.00 and market settled at the same rate without showing any change for the da
Published 22 Jun, 2007 12:00am
Finance Bill: sketchy sales tax amendment proposed

Finance Bill: sketchy sales tax amendment proposed

The Central Board of Revenue (CBR) has proposed a sketchy sales tax amendment in the Finance Bill (2007-2008) to force the corporate sector for submitting audited accounts to the Collectors of Sales Tax duly certified by the auditors.
Published 22 Jun, 2007 12:00am
CBoT wheat climbs

CBoT wheat climbs

Soft red winter wheat futures at the Chicago Board of Trade staged a sharp rally on Wednesday on US supply concerns, with nearby months at times rising the 30-cent daily trading limit, traders said.
Published 22 Jun, 2007 12:00am
Aisam's feat

Aisam's feat

Tennis star Aisam ul Haq became the second Pakistani to represent in the Wimbledon Tennis Championship, Aaj TV reported. He gained this glory by winning the qualifying match of the third round.
Published 22 Jun, 2007 12:00am
WCE canola futures higher

WCE canola futures higher

Winnipeg Commodity Exchange canola futures settled higher on Wednesday, regaining some ground lost in Tuesday's slide as Chicago soy futures rallied, traders said. Canola settled $4.10 to $5.50 per tonne higher, with July up $4.60 at $377.90 and November
Published 22 Jun, 2007 12:00am
Aisam's feat

Aisam's feat

Tennis star Aisam ul Haq became the second Pakistani to represent in the Wimbledon Tennis Championship, Aaj TV reported. He gained this glory by winning the qualifying match of the third round.
Published 22 Jun, 2007 12:00am
US Midwest bids for corn, soyabean steady

US Midwest bids for corn, soyabean steady

Spot basis bids for corn and soyabeans were mostly steady around the US Midwest on Wednesday amid slow country movement from farmers accustomed to higher cash prices, grain dealers said. Most farmers had enough money on hand from sales earlier this year a
Published 22 Jun, 2007 12:00am
First monsoon showers lash Karachi

First monsoon showers lash Karachi

The first rains of monsoon season lashed the metropolis on Thursday evening making the heat-ridden Karachiites pleased but leaving the vehicular traffic clogged on various important thoroughfares.
Published 22 Jun, 2007 12:00am
Gulf soyabean, corn export premiums hold steady

Gulf soyabean, corn export premiums hold steady

US FOB Gulf soyabean and corn export premiums held steady but volatile futures prices were limiting export demand, traders said. Hard red winter wheat basis offers were steady but basis levels for soft red winter wheat rose amid quality concerns.
Published 22 Jun, 2007 12:00am
First monsoon showers lash Karachi

First monsoon showers lash Karachi

The first rains of monsoon season lashed the metropolis on Thursday evening making the heat-ridden Karachiites pleased but leaving the vehicular traffic clogged on various important thoroughfares.
Published 22 Jun, 2007 12:00am
HRW wheat mostly steady

HRW wheat mostly steady

US Plains hard red winter wheat basis bids were steady to firmer on Thursday, with harvesting slowly picking up in top US producer Kansas but early results disappointing. Low yields and undesirably low test weights were characterising the new bushels show
Published 22 Jun, 2007 12:00am
Experts warn against gradual decline in water lands

Experts warn against gradual decline in water lands

Experts warned on Thursday about the mounting threats to wildlife and other rare water species including blind-dolphin due to gradual decline of water lands across the country.
Published 22 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 113,699 tonnes cargo including 92,902 tonnes import, 20,797 tonnes export cargo and 4,362 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 22 Jun, 2007 12:00am
Bears stage comeback on LSE and ISE

Bears stage comeback on LSE and ISE

The share market failed to maintain the bullish trend and ended lower following pressure caused by profit-taking, mainly in PSO and Javed Omer Vohra & Co, which shed their weight significantly on Thursday.
Published 22 Jun, 2007 12:00am
Japan buys 48,500 tonnes wheat

Japan buys 48,500 tonnes wheat

Japan's Agriculture Ministry bought a total of 48,500 tonnes of wheat from the United States and Canada, and 1,500 tonnes of Canadian six-row food barley at a weekly tender, a ministry official said on Thursday.
Published 22 Jun, 2007 12:00am
Bears stage comeback on LSE and ISE

Bears stage comeback on LSE and ISE

The share market failed to maintain the bullish trend and ended lower following pressure caused by profit-taking, mainly in PSO and Javed Omer Vohra & Co, which shed their weight significantly on Thursday.
Published 22 Jun, 2007 12:00am
CBR gets more powers under FBR Act

CBR gets more powers under FBR Act

The Central Board of Revenue (CBR) has been empowered to implement any administrative and operational decision through Cabinet Committee for Federal Revenue (CCFR). Sources told Business Recorder on Thursday that the board has acquired these powers
Published 22 Jun, 2007 12:00am
CBR gets more powers under FBR Act

CBR gets more powers under FBR Act

The Central Board of Revenue (CBR) has been empowered to implement any administrative and operational decision through Cabinet Committee for Federal Revenue (CCFR). Sources told Business Recorder on Thursday that the board has acquired these powers
Published 22 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 22 Jun, 2007 12:00am
CBR gets more powers under FBR Act

CBR gets more powers under FBR Act

The Central Board of Revenue (CBR) has been empowered to implement any administrative and operational decision through Cabinet Committee for Federal Revenue (CCFR). Sources told Business Recorder on Thursday that the board has acquired these powers
Published 22 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 22 Jun, 2007 12:00am
Bearish trend on KSE

Bearish trend on KSE

The delay in PSO's privatisation and an alleged fraud in BoP created uncertainty among the investors as the Karachi Sock Exchange (KSE) started on negative note and at one time the KSE-100 index fell at 13,505.97 points intra-day low level on Thursday. Th
Published 22 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 Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
Bearish trend on KSE

Bearish trend on KSE

The delay in PSO's privatisation and an alleged fraud in BoP created uncertainty among the investors as the Karachi Sock Exchange (KSE) started on negative note and at one time the KSE-100 index fell at 13,505.97 points intra-day low level on Thursday. Th
Published 22 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 Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
Bearish trend on KSE

Bearish trend on KSE

The delay in PSO''s privatisation and an alleged fraud in BoP created uncertainty among the investors as the Karachi Sock Exchange (KSE) started on negative note and at one time the KSE-100 index fell at 13,505.97 points intra-day low level on Thursday. T
Published 22 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 Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
PPIB managing director resigns after he draws Prime Minister's ire

PPIB managing director resigns after he draws Prime Minister's ire

Private Power Infrastructure Board (PPIB) Managing Director Khalid Irfan Rehman has resigned from his office citing personal reasons. "Yes, I have resigned as the PPIB managing director due to personal reasons and there was no other factor behind this dec
Published 22 Jun, 2007 12:00am
PPIB managing director resigns after he draws Prime Minister's ire

PPIB managing director resigns after he draws Prime Minister's ire

Private Power Infrastructure Board (PPIB) Managing Director Khalid Irfan Rehman has resigned from his office citing personal reasons. "Yes, I have resigned as the PPIB managing director due to personal reasons and there was no other factor behind this dec
Published 22 Jun, 2007 12:00am
PPIB managing director resigns after he draws Prime Minister''s ire

PPIB managing director resigns after he draws Prime Minister''s ire

Private Power Infrastructure Board (PPIB) Managing Director Khalid Irfan Rehman has resigned from his office citing personal reasons. "Yes, I have resigned as the PPIB managing director due to personal reasons and there was no other factor behind this dec
Published 22 Jun, 2007 12:00am
Transfer of NPKAL shares: PC tells UK firm Wapda's approval mandatory

Transfer of NPKAL shares: PC tells UK firm Wapda's approval mandatory

The Privatisation Commission (PC) has conveyed to the International Power of UK that the shares of National Power Kot Addu Limited (NPKAL) could only be allowed to transfer to a party whose credentials are acceptable to Water and Power Development Authori
Published 22 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 Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
Transfer of NPKAL shares: PC tells UK firm Wapda's approval mandatory

Transfer of NPKAL shares: PC tells UK firm Wapda's approval mandatory

The Privatisation Commission (PC) has conveyed to the International Power of UK that the shares of National Power Kot Addu Limited (NPKAL) could only be allowed to transfer to a party whose credentials are acceptable to Water and Power Development Authori
Published 22 Jun, 2007 12:00am
Transfer of NPKAL shares: PC tells UK firm Wapda''s approval mandatory

Transfer of NPKAL shares: PC tells UK firm Wapda''s approval mandatory

The Privatisation Commission (PC) has conveyed to the International Power of UK that the shares of National Power Kot Addu Limited (NPKAL) could only be allowed to transfer to a party whose credentials are acceptable to Water and Power Development Authori
Published 22 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 21, 2007).
Published 22 Jun, 2007 12:00am
Numerous items to be exempted from special excise duty

Numerous items to be exempted from special excise duty

The Central Board of Revenue (CBR) will exempt many sectors and items including vegetable ghee and cooking oil and portland cement from levy of proposed one percent special excise duty to be levied at the local manufacturing stage from July 1.
Published 22 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
Numerous items to be exempted from special excise duty

Numerous items to be exempted from special excise duty

The Central Board of Revenue (CBR) will exempt many sectors and items including vegetable ghee and cooking oil and portland cement from levy of proposed one percent special excise duty to be levied at the local manufacturing stage from July 1.
Published 22 Jun, 2007 12:00am
Numerous items to be exempted from special excise duty

Numerous items to be exempted from special excise duty

The Central Board of Revenue (CBR) will exempt many sectors and items including vegetable ghee and cooking oil and portland cement from levy of proposed one percent special excise duty to be levied at the local manufacturing stage from July 1.
Published 22 Jun, 2007 12:00am
BRIndex30 drops 16.12 points

BRIndex30 drops 16.12 points

On Thursday, BRIndex30 opened at 15,181.86 in the negative zone. It closed at 15,169.14 with a net negative change of -16.12 points and percentage change of -0.11. It recorded an intra-day high of 15,244.52 and an intra-day low of 15,099.15.
Published 22 Jun, 2007 12:00am
BRIndex30 drops 16.12 points

BRIndex30 drops 16.12 points

On Thursday, BRIndex30 opened at 15,181.86 in the negative zone. It closed at 15,169.14 with a net negative change of -16.12 points and percentage change of -0.11. It recorded an intra-day high of 15,244.52 and an intra-day low of 15,099.15.
Published 22 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (June 21, 2007).

Published 22 Jun, 2007 12:00am
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