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Archive - 2007-06-23
Indian rupee comforts

Indian rupee comforts

The Indian rupee eased on Friday, after trading in a narrow band for most of the session, driven lower by dollar purchases by oil refiners and as dealers unwound positions in the local unit ahead of the weekend.
Published 23 Jun, 2007 12:00am
Pound hits 15-year high versus yen

Pound hits 15-year high versus yen

Sterling rose to nearly $2 and hit a 15-year high versus the yen on Friday, extending gains made earlier in the week after Bank of England minutes suggested that rates will rise in July, rather than August.
Published 23 Jun, 2007 12:00am
Slave labour scandal: Chinese governor apologises

Slave labour scandal: Chinese governor apologises

The governor of the Chinese province shaken by a slave labour scandal publicly apologised on Friday, as officials described farmers, children and mentally impaired people snatched into a grim rural underworld.
Published 23 Jun, 2007 12:00am
Glastonbury begins with rain, rock and revels

Glastonbury begins with rain, rock and revels

Glastonbury, the world's biggest green field arts and music festival, opened on Friday with a record 177,500 people braving rain to hear British rockers Arctic Monkeys, Icelander Bjork and the haunting sound of Canadian band Arcade Fire.
Published 23 Jun, 2007 12:00am
Bush and Triet recognise differences over rights

Bush and Triet recognise differences over rights

US President George W. Bush held landmark talks Friday with his Vietnamese counterpart Nguyen Minh Triet, as they acknowledged differences over human rights and pledged to boost understanding. Triet is on the first visit to the United States by a Vietname
Published 23 Jun, 2007 12:00am
Sporadic firing hits Lebanon camp

Sporadic firing hits Lebanon camp

Lebanese army helicopters and artillery fired on Friday at Islamist fighters who had retreated into the heart of a Palestinian refugee camp after troops captured all their outlying positions.
Published 23 Jun, 2007 12:00am
North Korea set to shut atom plant in weeks: US envoy

North Korea set to shut atom plant in weeks: US envoy

The top US nuclear envoy, just back from a rare visit to North Korea, said on Friday Pyongyang was ready to disable its nuclear reactor in weeks and meet pledges it made in a disarmament deal.
Published 23 Jun, 2007 12:00am
Nigerian unions dig in for lengthy strike

Nigerian unions dig in for lengthy strike

Nigerian unions dug in for a lengthy battle with the government of Africa's top oil producer on Friday after the collapse of talks on the third day of a general strike over fuel prices. Unions threatened to extend the strike, which has already crippled mo
Published 23 Jun, 2007 12:00am
Somali pirates free Indian cargo vessel

Somali pirates free Indian cargo vessel

Somali pirates have released an Indian cargo ship after a ransom was reportedly paid, Kenyan maritime officials said Friday. The pirates freed the MSV Al Hakik in the Somali port of Hobyo, said Andrew Mwangura of the Kenyan branch of the Seafarers Assista
Published 23 Jun, 2007 12:00am
EU leaders agree on foreign chief

EU leaders agree on foreign chief

European Union leaders reached broad agreement on Friday on a single post to run EU foreign affairs, the first success at a summit on the bloc's future, but Poland held up progress towards a treaty to reform the Union.
Published 23 Jun, 2007 12:00am
Envoys to meet in Jerusalem on June 26

Envoys to meet in Jerusalem on June 26

Envoys for international powers trying to mediate a peace in the Middle East agreed on Friday to talk in Jerusalem next week, a day after the first meeting in two months between Israeli and Palestinian leaders.
Published 23 Jun, 2007 12:00am
Iran denies statement on enrichment

Iran denies statement on enrichment

Iran denied on Friday that Interior Minister Mostafa Pourmohammadi said Iran has 100 kg of enriched uranium material in storage, the official IRNA news agency said. Another Iranian news agency, ISNA, had earlier said Pourmohammadi made the remarks in a sp
Published 23 Jun, 2007 12:00am
Larijani meets ElBaradei as sanctions loom

Larijani meets ElBaradei as sanctions loom

Iran's chief negotiator met the top UN nuclear monitor on Friday ahead of talks with the EU in what could be a last chance to defuse a stand-off over Tehran's atomic ambitions and head off tougher UN sanctions.
Published 23 Jun, 2007 12:00am
Bush to host Vietnam president in historic visit

Bush to host Vietnam president in historic visit

President George W. Bush, hosting Vietnam's president in a historic visit, will welcome robust trade ties the United States has developed with a former enemy but also will voice concerns on Hanoi's human rights record.
Published 23 Jun, 2007 12:00am
Nepal Maoists, groups hinder political activity: UN

Nepal Maoists, groups hinder political activity: UN

Nepal's Maoist former rebels and other armed groups are hindering political activity in the countryside, the United Nations said on Friday, raising fears of disturbances ahead of this year's national elections.
Published 23 Jun, 2007 12:00am
Congo to cancel logging deals to protect forests

Congo to cancel logging deals to protect forests

Congo is ready to cancel more than half its timber contracts to protect the world's second biggest tropical forest but it wants more aid from foreign governments to help do so, the environment minister said.
Published 23 Jun, 2007 12:00am
Iraqi reporters' dilemma - risk death or leave

Iraqi reporters' dilemma - risk death or leave

With their colleagues dying in record numbers, Iraqi journalists face an unenviable choice - stay and risk becoming another statistic of unrelenting violence or leave and endure economic hardship and isolation abroad.
Published 23 Jun, 2007 12:00am
NASA aims to land space shuttle Atlantis

NASA aims to land space shuttle Atlantis

The astronauts on the US space shuttle Atlantis closed their ship's cargo bay doors on Friday, hoping for good weather that would allow them to return to Earth after two weeks in orbit.
Published 23 Jun, 2007 12:00am
Collingwood named England one-day captain

Collingwood named England one-day captain

Paul Collingwood was named Friday as England's new one-day captain and put in charge of a new-look squad for the upcoming series against the West Indies. The Durham all-rounder replaces Michael Vaughan, who has opted to concentrate on his role at the helm
Published 23 Jun, 2007 12:00am
Henin and Mauresmo reach Eastbourne final

Henin and Mauresmo reach Eastbourne final

World number one Justine Henin reached the final of the Eastbourne International grasscourt tournament with a swift 6-1 6-3 win over Marion Bartoli on Friday.
Published 23 Jun, 2007 12:00am
PFF suspends Ravi Club's secretary

PFF suspends Ravi Club's secretary

Pakistan Football Federation (PFF) has suspended Ravi Football Club's Secretary Munawar Hussain for six months from taking part in soccer-related activities.
Published 23 Jun, 2007 12:00am
'PCB to request ICC for assistance for stadia'

'PCB to request ICC for assistance for stadia'

Pakistan Cricket Board (PCB) will be making an official request to International Cricket Council (ICC) for renovation and upgradation of stadia for the 2011 Cricket World Cup.
Published 23 Jun, 2007 12:00am
Federer faces Russian obstacles at Wimbledon

Federer faces Russian obstacles at Wimbledon

Swiss top seed Roger Federer will begin his quest for a record-equalling fifth consecutive Wimbledon men's singles title against Russia's Teimuraz Gabashvili. The draw for the grasscourt grand slam, which starts on Monday, also paired Spanish second seed
Published 23 Jun, 2007 12:00am
Hong Kong dollar eases

Hong Kong dollar eases

The Hong Kong dollar edged lower against the US dollar on Friday, while short-term interbank rates remained firm on IPO-related fund demand. The domestic currency fell as low as 7.8147 to the US dollar before recovering slightly to 7.8137/40, but was stil
Published 23 Jun, 2007 12:00am
Asian currencies: Taiwan dollar hits five-month high

Asian currencies: Taiwan dollar hits five-month high

The Taiwan dollar hit a five-month high on Friday after the central bank raised interest rates by bigger-than-expected 25 basis points a day earlier, while other Asian currencies mostly moved in tight ranges. The Taiwan dollar stuck near 32.77 per US doll
Published 23 Jun, 2007 12:00am
Australian dollar hits 18-year peak

Australian dollar hits 18-year peak

The Australian dollar soared to a fresh 18-year peak against the US dollar on Friday, fuelled by an insatiable appetite for high yielding currencies amongst global investors.
Published 23 Jun, 2007 12:00am
Yen and Swiss franc suffer

Yen and Swiss franc suffer

The dollar gained against the Swiss franc on Thursday and approached a four-and-a-half-year high against the yen as investors continued to punish low-yielding currencies in a quest for higher returns.
Published 23 Jun, 2007 12:00am
Yen slides to 4-1/2-year low

Yen slides to 4-1/2-year low

The yen fell to a 4-1/2-year low against the dollar on Friday as Japanese investors dumped their low-yielding currency for foreign assets and market players kept using the unit to fund carry trades.
Published 23 Jun, 2007 12:00am
Yuan ends down

Yuan ends down

China's yuan dropped against the dollar on Friday, continuing a modest correction despite US legislators stepping up pressure on China by introducing a bill aiming to push for faster appreciation of the currency.
Published 23 Jun, 2007 12:00am
Swiss franc weaker

Swiss franc weaker

The Swiss franc was weaker versus the euro on Friday despite data showing the Swiss economy was in good shape and markets expected it to lose further ground, but it rose against the dollar. The franc was 0.04 percent weaker against the euro at 1.663 franc
Published 23 Jun, 2007 12:00am
Philippines shares weaken

Philippines shares weaken

Philippines share prices closed 0.36 percent lower on Friday as investors took profits on blue chips, offsetting gains in the broader market, dealers said. They said the composite index hit a fresh record high early in the session but investors later chan
Published 23 Jun, 2007 12:00am
Tokyo stocks sag

Tokyo stocks sag

The Nikkei fell 0.28 percent on Friday, retreating from a seven-year closing high as drops in property investment trust prices dragged down Mitsubishi Estate Co and other property shares and the yen's slide hit importers like food and paper companies.
Published 23 Jun, 2007 12:00am
Jakarta shares close flat

Jakarta shares close flat

Jakarta share prices closed flat on Friday with the main index clawing back lost early ground on the back of late buying in large caps, including Astra International, dealers said. They said support for a number of laggards like cement maker Holcim Indone
Published 23 Jun, 2007 12:00am
Thai share prices slip

Thai share prices slip

Thai share prices closed 0.53 percent lower on Friday as investors remained jittery on the eve of a planned protest against the kingdom's military-backed government, dealers said. They said the market was also sluggish due to a lack of positive leads.
Published 23 Jun, 2007 12:00am
Indian shares tumble

Indian shares tumble

Indian share prices fell 0.22 percent on Friday in choppy trade, snapping three days of gains as investors locked-in profits as the markets edged towards record levels, dealers said. They said the markets ignored India's inflation data, which fell to its
Published 23 Jun, 2007 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices closed 0.66 percent lower on Friday with profit-taking in blue chips and investors locking in gains following the recent record-breaking run, dealers said. They said the market was taking a breather following a record-breaking run t
Published 23 Jun, 2007 12:00am
Long-dated Treasuries fall

Long-dated Treasuries fall

Long-dated Treasuries fell for a second straight day on Thursday on sales associated with corporate debt issuance, but shorter maturities held steady, supported by demand from investors seeking safe-haven assets amid growing troubles in the subprime mortg
Published 23 Jun, 2007 12:00am
Long-dated Treasuries fall

Long-dated Treasuries fall

Long-dated Treasuries fell for a second straight day on Thursday on sales associated with corporate debt issuance, but shorter maturities held steady, supported by demand from investors seeking safe-haven assets amid growing troubles in the subprime mortg
Published 23 Jun, 2007 12:00am
US stocks gain

US stocks gain

US stocks rebounded on Thursday after brokerage upgrades sent the semiconductor sector to a 13-month high and fresh data pointed to a growing economy. The indicators helped soothe concerns that investment banks could face heavy losses on subprime mortgage
Published 23 Jun, 2007 12:00am
China insurers help drive Hong Kong shares to records

China insurers help drive Hong Kong shares to records

Hong Kong stocks accelerated further into record territory on Friday, with mainland insurers striking new highs, as investors wagered China would lift their allotment quota for investing in overseas securities.
Published 23 Jun, 2007 12:00am
Malaysian shares at fresh record high

Malaysian shares at fresh record high

Malaysian share prices closed 0.26 percent higher on Friday in volatile trade, with late buying of big-caps boosting the key index to its fourth successive all-time high, dealers said. The Kuala Lumpur Composite Index was up 3.61 points at 1,391.57, after
Published 23 Jun, 2007 12:00am
Seoul shares end 1.3 percent down

Seoul shares end 1.3 percent down

Seoul shares dropped 1.3 percent on Friday as Korea Exchange Bank slumped after its majority shareholder sold a stake at a discount, while other lenders fell on expectations a planned sale of the bank would be delayed.
Published 23 Jun, 2007 12:00am
Italian exchange backs $2.15 billion LSE bid

Italian exchange backs $2.15 billion LSE bid

Borsa Italiana has backed a 1.6 billion euro ($2.15 billion) take-over by London Stock Exchange, sources close to the situation said on Friday, bringing closer a deal that could boost the LSE's own bid defences.
Published 23 Jun, 2007 12:00am
BP's Russia unit surrenders gas field to Gazprom

BP's Russia unit surrenders gas field to Gazprom

UK oil major BP Plc agreed to sell its interest in the Siberian Kovykta gas field to state-controlled Gazprom at a knock-down price on Friday, as the Kremlin continues to tighten its grip over Russia's oil and gas industry.
Published 23 Jun, 2007 12:00am
US soft landing scenario likely amid risks: IMF

US soft landing scenario likely amid risks: IMF

The US economy is likely to rebound amid ebbing inflation as consumer and business spending overcome the drag from a stumbling housing market, the International Monetary Fund said on Friday.
Published 23 Jun, 2007 12:00am
Mugabe faces pressure as currency crashes

Mugabe faces pressure as currency crashes

Zimbabwe's currency plunged to new depths on Friday as the US ambassador to Harare predicted galloping inflation will force President Robert Mugabe from office before the end of the year.
Published 23 Jun, 2007 12:00am
Airbus unveils over 700 plane orders in battle with Boeing

Airbus unveils over 700 plane orders in battle with Boeing

If Boeing Co has been rocked by this week's stack of new plane deals announced by rival Airbus, it certainly isn't showing it. Airbus unveiled deals involving over 700 planes including more than 300 firm orders, edging ahead of the US company which entere
Published 23 Jun, 2007 12:00am
FDI within OECD strong, jumped 22 percent in 2006

FDI within OECD strong, jumped 22 percent in 2006

High corporate profits, low interest rates and strong economic growth are set to keep foreign direct investment within the OECD strong in the near-term on the heels of a 22 percent jump last year, a report says.
Published 23 Jun, 2007 12:00am
EBRD praises Ukraine growth

EBRD praises Ukraine growth

The European Bank for Reconstruction and Development said on Friday strong demand and favourable export markets had produced steady growth in Ukraine and pledged to boost its activity by lending in local currency.
Published 23 Jun, 2007 12:00am
Indian inflation falls

Indian inflation falls

Indian wholesale price inflation unexpectedly eased to its lowest in 14 months, and analysts said the fall would give the central bank leeway to leave rates unchanged at its next monetary policy review.
Published 23 Jun, 2007 12:00am
Eurozone orders beat consensus

Eurozone orders beat consensus

Eurozone industrial new orders turned out stronger than expected in April, data showed on Friday, pointing to continued strength in manufacturing. European Union statistics office Eurostat said orders in the 13 countries using the euro eased 0.4 percent m
Published 23 Jun, 2007 12:00am
Bear Stearns bails out hedge fund

Bear Stearns bails out hedge fund

Bear Stearns Cos. Inc on Friday said it will provide up to $3.2 billion in financing for a struggling hedge fund it manages, but sources said a second fund is still working out a restructuring plan with creditors. The move should stabilise one of a pair o
Published 23 Jun, 2007 12:00am
Bear Stearns bails out hedge fund

Bear Stearns bails out hedge fund

Bear Stearns Cos. Inc on Friday said it will provide up to $3.2 billion in financing for a struggling hedge fund it manages, but sources said a second fund is still working out a restructuring plan with creditors. The move should stabilise one of a pair o
Published 23 Jun, 2007 12:00am
India refuses farm compromise for trade deal

India refuses farm compromise for trade deal

India will not compromise on market access for farm products to seal a global trade deal, its trade minister said on Friday, as he cautioned the West not to attempt to drive a wedge between developing nations.
Published 23 Jun, 2007 12:00am
ICICI share sale well covered, pricing seen high

ICICI share sale well covered, pricing seen high

India's second-largest lender ICICI Bank is set to price its $4.9 billion share sale at the top end of the range after the local order book was filled more than 11 times, bankers said.
Published 23 Jun, 2007 12:00am
Gas prices weigh less on consumer confidence

Gas prices weigh less on consumer confidence

Summertime spikes in gasoline prices above $3 a gallon do not eat into consumer confidence to the degree they once did because of expectations that prices will drop after Labour Day, the director of a consumer survey said Friday.
Published 23 Jun, 2007 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures edged lower on Friday in light trade as prices of rival soyabean oil declined and the market awaited further news that Indonesia may cut export tax on palm oil products. Traders said fears over declining exports and rising
Published 23 Jun, 2007 12:00am
Tocom rubber prices fall

Tocom rubber prices fall

Tokyo rubber futures slid on Friday, tracking falls of other commodities, but prices were still supported and closed above the key support at 260 yen. The benchmark rubber contract on Tokyo Commodity Exchange for November delivery fell 1.3 yen to settle a
Published 23 Jun, 2007 12:00am
CBOT rice futures slip

CBOT rice futures slip

Chicago Board of Trade rough rice futures closed lower on Thursday as disappointing weekly export data and the weakness in CBOT corn and soya markets weighed on prices, traders said. CBOT July rice closed 11 cents down at $10.65 per hundredweight. Septemb
Published 23 Jun, 2007 12:00am
Indonesian palm oil mixed

Indonesian palm oil mixed

Indonesian palm oil prices were mixed on Friday, with players still nervous over government intentions on the palm oil export tax and with interest also dampened by a dip in Malaysian futures.
Published 23 Jun, 2007 12:00am
Soyabeans dive on rain forecast

Soyabeans dive on rain forecast

The Chicago Board of Trade soyabean futures market took a nose dive on Thursday as a change in the weather forecast sparked firms to liquidate long positions, traders said.
Published 23 Jun, 2007 12:00am
New York sugar futures close at three-week high

New York sugar futures close at three-week high

Raw sugar futures ended on Thursday at a three-week high on trade and speculative buying, with brokers saying the momentum from the surge could nudge the market higher in the days ahead. The New York Board of Trade's July raw sugar contract rose 0.20 cent
Published 23 Jun, 2007 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper fell nearly 1 percent on Friday on weakness in London futures in the previous session after stocks jumped nearly 5 percent following large-scale deliveries into warehouses in South Korea.
Published 23 Jun, 2007 12:00am
Oil steady as US crude stocks cushion

Oil steady as US crude stocks cushion

Oil prices steadied on Friday above $70 a barrel as a strike continued in the world's eighth-largest exporter Nigeria, but traders saw inflated US crude stockpiles as cushioning any potential supply losses.
Published 23 Jun, 2007 12:00am
Queensland Cotton accepts revised Olam bid

Queensland Cotton accepts revised Olam bid

Queensland Cotton Holdings Ltd on Thursday recommended a revised offer from Singapore's Olam International that values it at A$166 million ($139 million), ending a three-month bidding war.
Published 23 Jun, 2007 12:00am
US Midwest prices for upland cotton

US Midwest prices for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 48.97 cents per lb, effective through June 28. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
Published 23 Jun, 2007 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin rose 0.4 percent on Friday despite lower London Metal Exchange prices as strong Japanese and European buying supported the market, one dealer said.
Published 23 Jun, 2007 12:00am
Gold off one-week low

Gold off one-week low

Gold held steady on Friday after falling to a one-week low the previous day, while bullion contracts in Tokyo extended losses as cautious investors disgusted a plan by the Japanese exchange to boost liquidity.
Published 23 Jun, 2007 12:00am
CCoP to set deadline for PSO bidding today

CCoP to set deadline for PSO bidding today

The Cabinet Committee on Privatisation (CCoP) is meeting here, on Saturday to set the final deadline for Pakistan State Oil (PSO) bidding, besides endorsing United Bank Limited (UBL) global depository receipts (GDRs) size and price.
Published 23 Jun, 2007 12:00am
US gold down

US gold down

US gold futures finished with moderate losses on Thursday after probing one-week lows, with speculative sellers able to push through technical support levels amid dollar strength and longer-dated US interest rate increases, analysts said.
Published 23 Jun, 2007 12:00am
CCoP to set deadline for PSO bidding today

CCoP to set deadline for PSO bidding today

The Cabinet Committee on Privatisation (CCoP) is meeting here, on Saturday to set the final deadline for Pakistan State Oil (PSO) bidding, besides endorsing United Bank Limited (UBL) global depository receipts (GDRs) size and price.
Published 23 Jun, 2007 12:00am
US copper ends lower

US copper ends lower

US copper futures lost over 1 percent by the close on Thursday after a hefty build in London warehouse inventories raised concerns about demand growth heading into the slower summer months, analysts said.
Published 23 Jun, 2007 12:00am
CCoP to set deadline for PSO bidding today

CCoP to set deadline for PSO bidding today

The Cabinet Committee on Privatisation (CCoP) is meeting here, on Saturday to set the final deadline for Pakistan State Oil (PSO) bidding, besides endorsing United Bank Limited (UBL) global depository receipts (GDRs) size and price.
Published 23 Jun, 2007 12:00am
MGE spring wheat higher

MGE spring wheat higher

Spring wheat futures on the Minneapolis Grain Exchange closed sharply higher on Thursday, with front-month July rising to a fresh 11-year high in spread-dominated dealings, traders said. The market got a big boost from a US Department of Agriculture annou
Published 23 Jun, 2007 12:00am
Lal Masjid brigade 'abducts' five Chinese

Lal Masjid brigade 'abducts' five Chinese

Jamia Hafsa brigade 'abducted' five Chinese from a beauty parlour situated in Sector F-8/3 here on Friday night, Aaj TV reported. About two dozens armed students of the Jamia Hafsa and Lal Masjid came to the beauty parlour on 3 jeeps and one coaste
Published 23 Jun, 2007 12:00am
New York cocoa futures climb

New York cocoa futures climb

US cocoa futures closed firm and near session highs on Thursday, recouping some of the losses from Wednesday on chart-based support, traders said. "We're finding some support at that $1,900-level. The market's trading on technical, (there's) just really n
Published 23 Jun, 2007 12:00am
Lal Masjid brigade 'abducts' five Chinese

Lal Masjid brigade 'abducts' five Chinese

Jamia Hafsa brigade 'abducted' five Chinese from a beauty parlour situated in Sector F-8/3 here on Friday night, Aaj TV reported. About two dozens armed students of the Jamia Hafsa and Lal Masjid came to the beauty parlour on 3 jeeps and one coaste
Published 23 Jun, 2007 12:00am
New York coffee moves down

New York coffee moves down

US arabica coffee finished down a shade on Thursday in rangebound dealings pressured mildly by some origin and speculative selling amid light volume, traders said. "We're into the delivery period, and just with a lack of a freeze and the Brazilian harvest
Published 23 Jun, 2007 12:00am
NYBOT cotton stocks

NYBOT cotton stocks

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of June 20 totalled 710,333 (480-lb) bales, from 710,333 bales the previous session. There were 1,658 bales issued, 10,003 bales were awaiting
Published 23 Jun, 2007 12:00am
Rates stay put on grain market

Rates stay put on grain market

Firm trend was seen on the grain market on Friday as most of the commodities maintained their overnight levels in process of trading, dealers said. During the day, the rates fluctuated in rice and cereal but closing was seen at the overnight levels due to
Published 23 Jun, 2007 12:00am
Milk powder up on Jodia Bazaar

Milk powder up on Jodia Bazaar

The trading on milk powder ended up on Jodia Bazaar here on Friday. The following variations were noted.
Published 23 Jun, 2007 12:00am
Firm trend but no deal on cotton market

Firm trend but no deal on cotton market

Steady trend was seen on the cotton market on Friday as the leading mills kept were on the sideline to analyse the prevailing situation after the rains in both Punjab and Sindh, dealers said. The Karachi Cotton Association (KCA) official spot rate was unc
Published 23 Jun, 2007 12:00am
'Wapda line losses brought down by 5 percent in 4 years'

'Wapda line losses brought down by 5 percent in 4 years'

Through prudent measure the line losses of Wapda have been brought down by five percent from 20.9 percent to 24.3 four years ago, Chairman Wapda Tariq Hameed told a private TV channel. Commenting on power shortages he said various long-term measures have
Published 23 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December contract was up on the forward cottonseed oilcake market on Friday, dealers said. The July vaida was unchanged at Rs 650.00 and market settled at the same rate without showing any change for the day, dealer
Published 23 Jun, 2007 12:00am
Panha to set up model cardiac clinics

Panha to set up model cardiac clinics

Pakistan National Heart Association (Panha) will set up model cardiac clinics all over the country along with a Panha House to create awareness among the people about prevention of heart diseases.
Published 23 Jun, 2007 12:00am
CBoT wheat settles higher

CBoT wheat settles higher

Soft red winter wheat futures at the Chicago Board of Trade closed higher 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 firms sold Chic
Published 23 Jun, 2007 12:00am
PML-Q facing disintegration, claims Qureshi

PML-Q facing disintegration, claims Qureshi

President Pakistan People's Party Parliamentarian Punjab Shah Mahmood Qureshi said here on Friday that the ruling party is facing disintegration and its members are in contact with the PPPP and PML-N leaders.
Published 23 Jun, 2007 12:00am
CBOT corn down

CBOT corn down

Corn futures at the Chicago Board of Trade dropped on Thursday on outlooks for better crop weather in the US Midwest, traders said. CBoT corn closed 5 to 9-1/2 cents per bushel lower, with July down 9-1/4 at $3.85 per bushel. New-crop December was down 7-
Published 23 Jun, 2007 12:00am
Protests flare against Rushdie knighthood

Protests flare against Rushdie knighthood

Thousands of religious parties activists burned effigies of Queen Elizabeth and Salman Rushdie on Friday as the country's parliament renewed a call for Britain to withdraw the novelist's knighthood.
Published 23 Jun, 2007 12:00am
WCE canola and barley lower

WCE canola and barley lower

Winnipeg Commodity Exchange canola futures were pressured by weaker US futures on Thursday, but found some late strength under the market from routine exporter buying, traders said. Canola ended $2.10 to $4.60 per tonne lower, with July down $3.20 at $374
Published 23 Jun, 2007 12:00am
KSE to enforce daily revised VaR from July 2

KSE to enforce daily revised VaR from July 2

The Karachi Stock Exchange (KSE) has decided to implement the revision of VaR (Value at Risk) based Margins on a daily basis with effective July 2,2007.
Published 23 Jun, 2007 12:00am
US Midwest corn bids firm; soyabean steady

US Midwest corn bids firm; soyabean steady

Spot basis bids for corn were steady to firm around the interior US Midwest on Thursday as some grain dealers tried to stabilise cash prices. Cash bids for corn fell along rivers as the amount of grain in the pipeline outweighed export demand, an Illinois
Published 23 Jun, 2007 12:00am
KSE to enforce daily revised VaR from July 2

KSE to enforce daily revised VaR from July 2

The Karachi Stock Exchange (KSE) has decided to implement the revision of VaR (Value at Risk) based Margins on a daily basis with effective July 2,2007.
Published 23 Jun, 2007 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

US Plains hard red winter wheat basis bids were steady on Friday as drier weather conditions allowed harvest activity to pick up in Kansas, the top US wheat-growing state. Yields were ranging widely. A report Friday by Kansas wheat growers said yields wer
Published 23 Jun, 2007 12:00am
KSE to enforce daily revised VaR from July 2

KSE to enforce daily revised VaR from July 2

The Karachi Stock Exchange (KSE) has decided to implement the revision of VaR (Value at Risk) based Margins on a daily basis with effective July 2,2007.
Published 23 Jun, 2007 12:00am
Rains pave way for good Ivorian cocoa crop

Rains pave way for good Ivorian cocoa crop

Ivory Coast's 2007/08 main cocoa harvest could begin ahead of its official October start and produce an abundant crop if good rainfall seen in recent weeks keeps up, exporters and analysts said this week.
Published 23 Jun, 2007 12:00am
Changes in trading lots notified

Changes in trading lots notified

The National Clearing Company of Pakistan (NCCPL) has notified the list of those companies whose market lots are going to be changed with effect from July 2, 2007.
Published 23 Jun, 2007 12:00am
Sri Lankan tea output up in May

Sri Lankan tea output up in May

Sri Lankan tea production rose 13 percent in May from a year earlier, the Sri Lanka Tea Board said on Friday, citing favourable weather. Tea output rose to 33.34 million kg, from 29.51 million kg in May 2006.
Published 23 Jun, 2007 12:00am
Former state minister arrested in Kafila murder case

Former state minister arrested in Kafila murder case

Former State Minister for Communications Shahid Jamil Qureshi was taken into custody on Friday after a local court cancelled his bail. A Canadian woman, Kafila Siddiqui, died after Qureshi took her to hospital earlier this month.
Published 23 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 106,622 tonnes cargo including 81,365 tonnes import, 25,257 tonnes export cargo and 3,156 containers (TEUs) during last 24 hours ending at 0700 hours on Friday.
Published 23 Jun, 2007 12:00am
Two top judicial bodies meetings today: ACJ to preside

Two top judicial bodies meetings today: ACJ to preside

Two high-powered judicial bodies, the National Judicial Policy Making Committee and Governing Body of Access to Justice Development Fund are holding separate meetings under the chairmanship of Acting Chief Justice Rana Bhagwandas in the Supreme Court buil
Published 23 Jun, 2007 12:00am
Indian sugar futures mixed, soyaoil down

Indian sugar futures mixed, soyaoil down

Indian sugar futures were mixed on Friday as an expected bumper crop came back to haunt traders, after a rally the previous day following an increase in the buffer stock. Soyaoil slipped tracking the trend in Malaysia where palm oil was weak due to fallin
Published 23 Jun, 2007 12:00am
Portfolio investment hits record $906.774 million

Portfolio investment hits record $906.774 million

Portfolio investment in the country's equity market has for the first time crossed the $900 million mark to reach $906.774 million on June 22, 2007. Analysts say that continuous inflow of portfolio investment in local equity market shows increasing intere
Published 23 Jun, 2007 12:00am
Confident Turkey looks east, not west

Confident Turkey looks east, not west

Turkey was not invited to Europe's big birthday bash on March 25 despite being an official candidate for EU membership. Ankara expressed disappointment at a 'missed opportunity'. Media reaction to the perceived snub was sharper.
Published 23 Jun, 2007 12:00am
Portfolio investment hits record $906.774 million

Portfolio investment hits record $906.774 million

Portfolio investment in the country's equity market has for the first time crossed the $900 million mark to reach $906.774 million on June 22, 2007. Analysts say that continuous inflow of portfolio investment in local equity market shows increasing intere
Published 23 Jun, 2007 12:00am
KARACHI CHRONICLE: Domestic child labour

KARACHI CHRONICLE: Domestic child labour

Unwittingly, or may be knowingly, I allowed a child of sever to work as a housemaid for me for three days. I haven't got over the shock and shame for what I did, though my friends and family console me it was not my fault, I was duped into employing the c
Published 23 Jun, 2007 12:00am
Portfolio investment hits record $906.774 million

Portfolio investment hits record $906.774 million

Portfolio investment in the country''s equity market has for the first time crossed the $900 million mark to reach $906.774 million on June 22, 2007. Analysts say that continuous inflow of portfolio investment in local equity market shows increasing inter
Published 23 Jun, 2007 12:00am
Mughal metalware art still in vogue

Mughal metalware art still in vogue

The metalware art is in vogue here with a style, evolved from the East and West. Muslim were to this famous for their metalwork, termed Islamic Metalwork. Mughal Metalwork carries on the Islamic tradition of the art. Metalware, with a host of techniques o
Published 23 Jun, 2007 12:00am
Stock market bear-dozed

Stock market bear-dozed

The reference against the Prime Minister filed by opposition, delay in PSO's privatisation and an alleged fraud in BoP created panic selling at Karachi share market on Friday.
Published 23 Jun, 2007 12:00am
CAPITAL CULTURAL SCENE: Sino-Pak Cultural ties

CAPITAL CULTURAL SCENE: Sino-Pak Cultural ties

A cultural troupe from the Xinjiang province of China visited Pakistan this week and gave a wonderful performance here under the auspices of Chinese embassy. Prime Minister Shaukat Aziz along with his wife, Rukhsana Aziz, attended the cultural event on th
Published 23 Jun, 2007 12:00am
Stock market bear-dozed

Stock market bear-dozed

The reference against the Prime Minister filed by opposition, delay in PSO's privatisation and an alleged fraud in BoP created panic selling at Karachi share market on Friday.
Published 23 Jun, 2007 12:00am
BOOK REVIEW: Valuable addition to scanty literature on children's art

BOOK REVIEW: Valuable addition to scanty literature on children's art

The book 'Pakistani Children's Art" is a pioneering work and a valuable addition to the scanty literature on the subject. Compiled by Shamim Akhter, a freelance journalist and a writer on art and social issues, the book provides an interesting insight int
Published 23 Jun, 2007 12:00am
Stock market bear-dozed

Stock market bear-dozed

The reference against the Prime Minister filed by opposition, delay in PSO''s privatisation and an alleged fraud in BoP created panic selling at Karachi share market on Friday.
Published 23 Jun, 2007 12:00am
In search of the high notes

In search of the high notes

A major factor that has caused a sharp decline in the popularity of classical genres varieties of our traditional music is the non-availability of quality literature. Since the dawn of independence, very few books on the melodic arts have been published b
Published 23 Jun, 2007 12:00am
BRIndex30 loses 164.2 points

BRIndex30 loses 164.2 points

On Friday, the BRIndex30 opened at 15,196.41, in the positive zone, but soon went into negative zone and remained there for the rest of the trading time, closing at 15,004.94 with a net negative change of -164.2 points and percentage change of -1.08.
Published 23 Jun, 2007 12:00am
LAHORE CULTURAL DIARY: Russian exhibition of photographs

LAHORE CULTURAL DIARY: Russian exhibition of photographs

An interesting two-day exhibition of photographs cum seminar depicting visual history of diplomatic relations between Pakistan and Russian Federations opened at Lahore Arts Council on June 15.
Published 23 Jun, 2007 12:00am
BRIndex30 loses 164.2 points

BRIndex30 loses 164.2 points

On Friday, the BRIndex30 opened at 15,196.41, in the positive zone, but soon went into negative zone and remained there for the rest of the trading time, closing at 15,004.94 with a net negative change of -164.2 points and percentage change of -1.08.
Published 23 Jun, 2007 12:00am
From a Pastor's wife to a Muslim convert

From a Pastor's wife to a Muslim convert

Her name is Fatima Edoh, a 47-year-old Deeper Life elder. She lives in Karon-Majigi, a satellite town located along Airport Road in Abuja, Nigeria. On April 12, 2001, Fatima per-formed ablution and converted to Islam by reciting the testimony of faith.
Published 23 Jun, 2007 12:00am
Importance of PR in development

Importance of PR in development

There is plenty of good news, it is not all doom and gloom, but why does the good that is flowing in Pakistan just evaporate. One of the reasons is that those that make and have good news are not using the powerful tool of public relations. The right mess
Published 23 Jun, 2007 12:00am
HBL's IPO: PC snubbed by Prime Minister over low share price

HBL's IPO: PC snubbed by Prime Minister over low share price

Prime Minister Shaukat Aziz has snubbed the Privatisation Commission (PC) for recommending low price over Initial Public Offering (IPO) for Habib Bank shares (HBL), sources in Privatisation Minister's office told Business Recorder here on Friday.
Published 23 Jun, 2007 12:00am
HBL's IPO: PC snubbed by Prime Minister over low share price

HBL's IPO: PC snubbed by Prime Minister over low share price

Prime Minister Shaukat Aziz has snubbed the Privatisation Commission (PC) for recommending low price over Initial Public Offering (IPO) for Habib Bank shares (HBL), sources in Privatisation Minister's office told Business Recorder here on Friday.
Published 23 Jun, 2007 12:00am
HBL''s IPO: PC snubbed by Prime Minister over low share price

HBL''s IPO: PC snubbed by Prime Minister over low share price

Prime Minister Shaukat Aziz has snubbed the Privatisation Commission (PC) for recommending low price over Initial Public Offering (IPO) for Habib Bank shares (HBL), sources in Privatisation Minister''s office told Business Recorder here on Friday.
Published 23 Jun, 2007 12:00am
Five percent sales tax hike on steel products withdrawn

Five percent sales tax hike on steel products withdrawn

Yielding to steel traders' country-wide protests, the federal government on Friday decided to withdraw the earlier enhanced sales tax on steel products and abolish sales tax on the import of scrap, a top ministry of industries official said.
Published 23 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 23 Jun, 2007 12:00am
Five percent sales tax hike on steel products withdrawn

Five percent sales tax hike on steel products withdrawn

Yielding to steel traders' country-wide protests, the federal government on Friday decided to withdraw the earlier enhanced sales tax on steel products and abolish sales tax on the import of scrap, a top ministry of industries official said.
Published 23 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 23 Jun, 2007 12:00am
Five percent sales tax hike on steel products withdrawn

Five percent sales tax hike on steel products withdrawn

Yielding to steel traders'' country-wide protests, the federal government on Friday decided to withdraw the earlier enhanced sales tax on steel products and abolish sales tax on the import of scrap, a top ministry of industries official said.
Published 23 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 Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
Five percent sales tax hike on steel products withdrawn

Five percent sales tax hike on steel products withdrawn

Yielding to steel traders'''' country-wide protests, the federal government on Friday decided to withdraw the earlier enhanced sales tax on steel products and abolish sales tax on the import of scrap, a top ministry of industries official said.
Published 23 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 Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
Pakistan's economic growth one of best in world: Musharraf

Pakistan's economic growth one of best in world: Musharraf

Economic growth in the country is rated as one of the best in the world, while the government is spending huge funds on improving infrastructure including railways, roads, airports and seaports. This was stated by President General Pervez Musharraf while
Published 23 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 Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
LSE index sheds 45.64 points

LSE index sheds 45.64 points

Share values tumbled on Lahore Stock Exchange (LSE) on the last trading day of the week following pressure in PSO, banks, fertilisers and insurance sector, which caused pressure, especially in the first session, leading the index downwards.
Published 23 Jun, 2007 12:00am
LSE index sheds 45.64 points

LSE index sheds 45.64 points

Share values tumbled on Lahore Stock Exchange (LSE) on the last trading day of the week following pressure in PSO, banks, fertilisers and insurance sector, which caused pressure, especially in the first session, leading the index downwards.
Published 23 Jun, 2007 12:00am
Asia to beat Europe in mobile TV

Asia to beat Europe in mobile TV

Asia is set to overtake Europe's early lead in adopting mobile television broadcasting as Europe struggles to find available airwaves for broadcasts, industry executives at an Asian trade fair said this week.
Published 23 Jun, 2007 12:00am
Pentagon sends another detainee to Guantanamo

Pentagon sends another detainee to Guantanamo

The Pentagon said on Friday it sent a suspected commander of an al Qaeda-affiliated group to the military prison in Guantanamo Bay, increasing detainee ranks at the facility as some US officials in Washington weigh closing it.
Published 23 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 Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
15 Niger soldiers killed

15 Niger soldiers killed

Tuareg rebels in northern Niger killed 15 government soldiers in an attack on a Saharan military outpost on Friday, one of their biggest raids yet in a region where foreign firms are exploring for uranium and oil.
Published 23 Jun, 2007 12:00am
FSA review set to shake up UK life insurance sales

FSA review set to shake up UK life insurance sales

Britain's financial watchdog is set next week to propose a shake-up in the way people buy life insurance and investments, with a long-awaited review that will call for changes in commissions and better advice for customers.
Published 23 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (June 22, 2007).
Published 23 Jun, 2007 12:00am
Gaz de France says investment in nuclear possible

Gaz de France says investment in nuclear possible

French utility Gaz de France does not exclude investing in nuclear power to help supply its clients, a company executive said on Friday. As the countdown starts to the full opening of the European Union energy market on July 1.
Published 23 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
RBS group to issue ABN offer documents by mid-July

RBS group to issue ABN offer documents by mid-July

A consortium led by Royal Bank of Scotland said on Friday it expects to issue offer documents in relation to its 71 billion euros ($95 billion) take-over bid for ABN Amro by mid-July.
Published 23 Jun, 2007 12:00am
Engro clarifies

Engro clarifies

In response to a recent news item that appeared in Business Recorder the company said that the OGDCL confirmed the availability of 75 MMSCFD permeate gas to Ministry of Petroleum and Natural Resources (MoP&NR).
Published 23 Jun, 2007 12:00am
POL dealers threaten to close filling stations

POL dealers threaten to close filling stations

Sarhad Petroleum Cartage and Dealers Association threatened to close down all patrol pumps in NWFP to protest the highhandedness and plundering of a big amount from a filling station in Matani here,on Wednesday a suburban locality of the city.
Published 23 Jun, 2007 12:00am
Coal-fired power project: tardy local firm gets notice for inaction

Coal-fired power project: tardy local firm gets notice for inaction

The Sindh government has taken serious notice of tardiness and inaction of a local firm on coal-based power project. The Sindh Mines and Mineral Department has issued a show-cause notice to Dadabhoy group, a local company, for inaction in implementing the
Published 23 Jun, 2007 12:00am
UBL launches riba-free auto financing

UBL launches riba-free auto financing

United Bank Ltd (UBL) has launched Shariah-compliant auto financing in the name of "Ameen Auto Ijarah". According to UBL here on Friday, auto Ijarah will provide a flexible auto financing product plan that would enable many more people to purchase the car
Published 23 Jun, 2007 12:00am
Bonded carriers in a spot over tracking device issue

Bonded carriers in a spot over tracking device issue

The Central Board of Revenue (CBR) has intimated to bonded carriers that without tracking device vehicles and trailers would not be allowed to take cargo from ports from July 1, 2007. This step was being taken to improve transshipment of import and export
Published 23 Jun, 2007 12:00am
Bonded carriers in a spot over tracking device issue

Bonded carriers in a spot over tracking device issue

The Central Board of Revenue (CBR) has intimated to bonded carriers that without tracking device vehicles and trailers would not be allowed to take cargo from ports from July 1, 2007. This step was being taken to improve transshipment of import and export
Published 23 Jun, 2007 12:00am
Bonded carriers in a spot over tracking device issue

Bonded carriers in a spot over tracking device issue

The Central Board of Revenue (CBR) has intimated to bonded carriers that without tracking device vehicles and trailers would not be allowed to take cargo from ports from July 1, 2007. This step was being taken to improve transshipment of import and export
Published 23 Jun, 2007 12:00am
Bonded carriers in a spot over tracking device issue

Bonded carriers in a spot over tracking device issue

The Central Board of Revenue (CBR) has intimated to bonded carriers that without tracking device vehicles and trailers would not be allowed to take cargo from ports from July 1, 2007. This step was being taken to improve transshipment of import and export
Published 23 Jun, 2007 12:00am
Increased revenue, better tax transfers bridged budget deficit: Ehsan

Increased revenue, better tax transfers bridged budget deficit: Ehsan

Balochistan Minister for Finance Syed Ehsan Shah said that the provincial government had been able to overcome the budget deficit of the fiscal year 2006-07 due to improvement in the provincial revenue collection and better transfer of funds from the Fede
Published 23 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
WTO holds crisis talks to salvage pact

WTO holds crisis talks to salvage pact

The World Trade Organisation's (WTO) top negotiating body held a crisis session on Friday to find a way to salvage the Doha free trade pact, one day after talks between four major powers collapsed in acrimony.
Published 23 Jun, 2007 12:00am
'Africa must seal new trade deals with EU'

'Africa must seal new trade deals with EU'

African countries must agree new trade deals with Europe by the end of the year or risk losing valuable commerce, European Commissioner for Development and Humanitarian Aid Louis Michel said on Friday.
Published 23 Jun, 2007 12:00am
Pakistan holds three Germans over extremist links

Pakistan holds three Germans over extremist links

Authorities have arrested three Germans for suspected links to extremist groups, police in Germany said on Friday. Two of the Germans were converts to Islam, the head of the federal police Joerg Ziercke, told reporters in the Wiesbaden, adding that the su
Published 23 Jun, 2007 12:00am
Pakistan holds three Germans over extremist links

Pakistan holds three Germans over extremist links

Authorities have arrested three Germans for suspected links to extremist groups, police in Germany said on Friday. Two of the Germans were converts to Islam, the head of the federal police Joerg Ziercke, told reporters in the Wiesbaden, adding that the su
Published 23 Jun, 2007 12:00am
3000-year-old mummy discovered in Egypt

3000-year-old mummy discovered in Egypt

Archaeologists have discovered the 3,000-year-old mummy of a high priest to the god Amun in the southern city of Luxor, antiquities supremo Zahi Hawass told the official MENA news agency on Saturday.
Published 23 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
3000-year-old mummy discovered in Egypt

3000-year-old mummy discovered in Egypt

Archaeologists have discovered the 3,000-year-old mummy of a high priest to the god Amun in the southern city of Luxor, antiquities supremo Zahi Hawass told the official MENA news agency on Saturday.
Published 23 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
Militants behead alleged US spy

Militants behead alleged US spy

Pro-Taliban militants in Pakistan's troubled tribal belt beheaded an Afghan national for allegedly spying for US-led forces in Afghanistan, officials said on Friday.
Published 23 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
Militants behead alleged US spy

Militants behead alleged US spy

Pro-Taliban militants in Pakistan's troubled tribal belt beheaded an Afghan national for allegedly spying for US-led forces in Afghanistan, officials said on Friday.
Published 23 Jun, 2007 12:00am
July-May textile exports reach $9.816 billion

July-May textile exports reach $9.816 billion

Export of textile products reached 9.816 billion dollars mark in the first 11 months (July-May) of the current fiscal, up 6.04 percent from 9.257 billion dollars over the same period last year while the country's food import bill touched 2.537 billion dol
Published 23 Jun, 2007 12:00am
July-May textile exports reach $9.816 billion

July-May textile exports reach $9.816 billion

Export of textile products reached 9.816 billion dollars mark in the first 11 months (July-May) of the current fiscal, up 6.04 percent from 9.257 billion dollars over the same period last year while the country's food import bill touched 2.537 billion dol
Published 23 Jun, 2007 12:00am
July-May textile exports reach $9.816 billion

July-May textile exports reach $9.816 billion

Export of textile products reached 9.816 billion dollars mark in the first 11 months (July-May) of the current fiscal, up 6.04 percent from 9.257 billion dollars over the same period last year while the country''s food import bill touched 2.537 billion do
Published 23 Jun, 2007 12:00am
World Bank asks CBR to conduct tax reforms analysis

World Bank asks CBR to conduct tax reforms analysis

The World Bank (WB) has asked the Central Board of Revenue (CBR) to conduct in-depth analysis of the Tax Administration Reform Project (TARP), particularly the performance of Large Taxpayer Units (LTUs), to ascertain the impact of tax reforms in Pakistan.
Published 23 Jun, 2007 12:00am
World Bank asks CBR to conduct tax reforms analysis

World Bank asks CBR to conduct tax reforms analysis

The World Bank (WB) has asked the Central Board of Revenue (CBR) to conduct in-depth analysis of the Tax Administration Reform Project (TARP), particularly the performance of Large Taxpayer Units (LTUs), to ascertain the impact of tax reforms in Pakistan.
Published 23 Jun, 2007 12:00am
World Bank asks CBR to conduct tax reforms analysis

World Bank asks CBR to conduct tax reforms analysis

The World Bank (WB) has asked the Central Board of Revenue (CBR) to conduct in-depth analysis of the Tax Administration Reform Project (TARP), particularly the performance of Large Taxpayer Units (LTUs), to ascertain the impact of tax reforms in Pakistan.
Published 23 Jun, 2007 12:00am
Duty on crude oil slashed

Duty on crude oil slashed

The government has reduced customs duty on the import of crude oil (PCT heading 1511.1000) from Rs 9500 to Rs 9000 per tonne. Through amendment in the Finance Bill (2007-2008) on Friday, the rates of customs duty have been revised on different items.
Published 23 Jun, 2007 12:00am
Duty on crude oil slashed

Duty on crude oil slashed

The government has reduced customs duty on the import of crude oil (PCT heading 1511.1000) from Rs 9500 to Rs 9000 per tonne. Through amendment in the Finance Bill (2007-2008) on Friday, the rates of customs duty have been revised on different items.
Published 23 Jun, 2007 12:00am
Duty on crude oil slashed

Duty on crude oil slashed

The government has reduced customs duty on the import of crude oil (PCT heading 1511.1000) from Rs 9500 to Rs 9000 per tonne. Through amendment in the Finance Bill (2007-2008) on Friday, the rates of customs duty have been revised on different items.
Published 23 Jun, 2007 12:00am
Pakistan's foreign exchange reserves dip to $15.006 billion

Pakistan's foreign exchange reserves dip to $15.006 billion

Country's foreign exchange reserves fell by $24 million to $15.006 billion in the week ending on June 16, the central bank said on Friday. The reserves reached an all-time high of $15.030 a week earlier, thanks to healthy growth in external inflows, inclu
Published 23 Jun, 2007 12:00am
Pakistan's foreign exchange reserves dip to $15.006 billion

Pakistan's foreign exchange reserves dip to $15.006 billion

Country's foreign exchange reserves fell by $24 million to $15.006 billion in the week ending on June 16, the central bank said on Friday. The reserves reached an all-time high of $15.030 a week earlier, thanks to healthy growth in external inflows, inclu
Published 23 Jun, 2007 12:00am
Pakistan''s foreign exchange reserves dip to $15.006 billion

Pakistan''s foreign exchange reserves dip to $15.006 billion

Country''s foreign exchange reserves fell by $24 million to $15.006 billion in the week ending on June 16, the central bank said on Friday. The reserves reached an all-time high of $15.030 a week earlier, thanks to healthy growth in external inflows, incl
Published 23 Jun, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 23 Jun, 2007 12:00am
Afghan air raid kills 25 civilians, 20 Taliban

Afghan air raid kills 25 civilians, 20 Taliban

An air-strike by foreign-led forces killed 25 civilians, including 12 members of a family, and 20 Taliban fighters in southern Afghanistan, a police chief said on Friday.
Published 23 Jun, 2007 12:00am
Afghan air raid kills 25 civilians, 20 Taliban

Afghan air raid kills 25 civilians, 20 Taliban

An air-strike by foreign-led forces killed 25 civilians, including 12 members of a family, and 20 Taliban fighters in southern Afghanistan, a police chief said on Friday.
Published 23 Jun, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
ADB to provide $900 million for water management

ADB to provide $900 million for water management

Asian Development Bank (ADB) will help improve management of Punjab, Pakistan's water resources and increase productivity of the province's irrigated agriculture, through a multi-tranche financing facility of up to 900 million dollars.
Published 23 Jun, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 23 Jun, 2007 12:00am
ADB to provide $900 million for water management

ADB to provide $900 million for water management

Asian Development Bank (ADB) will help improve management of Punjab, Pakistan's water resources and increase productivity of the province's irrigated agriculture, through a multi-tranche financing facility of up to 900 million dollars.
Published 23 Jun, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Jun, 2007 12:00am
ADB to provide $900 million for water management

ADB to provide $900 million for water management

Asian Development Bank (ADB) will help improve management of Punjab, Pakistan''s water resources and increase productivity of the province''s irrigated agriculture, through a multi-tranche financing facility of up to 900 million dollars.
Published 23 Jun, 2007 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 23 Jun, 2007 12:00am
Pak-Libya Company ratings maintained

Pak-Libya Company ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of Pak-Libya Holding Co at 'AA-' (Double A Minus) and 'A1 +' (A One Plus), respectively, with positive outlook.
Published 23 Jun, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Jun, 2007 12:00am
Pak-Libya Company ratings maintained

Pak-Libya Company ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of Pak-Libya Holding Co at 'AA-' (Double A Minus) and 'A1 +' (A One Plus), respectively, with positive outlook.
Published 23 Jun, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (June 22, 2007).

Published 23 Jun, 2007 12:00am
MQM urges President and Prime Minister to help end power crisis

MQM urges President and Prime Minister to help end power crisis

The committee of Muttahida Qaumi Movement (MQM), formed to overcome power crisis in the metropolis, on Friday made an appeal to President General Pervez Musharraf, Prime Minister Shaukat Aziz, Governor Sindh Dr Ishratul Ibad and Chief Minister Dr Arbab Gh
Published 23 Jun, 2007 12:00am
Budget hits hosiery manufacturers badly

Budget hits hosiery manufacturers badly

Pakistan Hosiery Manufacturers Association (PHMA), like other value-added sectors, has badly been affected by the Federal Budget 2007-08 and government has ignored the development of this sector, said PHMA Zonal Chairman Saleem Parekh.
Published 23 Jun, 2007 12:00am
International scholarships scheme launched

International scholarships scheme launched

The University of Hertfordshire, in the United Kingdom, has announced to launch a new international scholarships scheme, the 'Chancellor's International Scholarships' to help prepare students in Pakistan for the global economy.
Published 23 Jun, 2007 12:00am
Professional education main focus of AJK budget

Professional education main focus of AJK budget

The Azad Jammu and Kashmir government has evolved an integrated phased plan for extending quality professional and general education in various disciplines harmonious to the needs of the modern era with the allocation of an attractive portion of the new f
Published 23 Jun, 2007 12:00am
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