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Archive - 2007-06-26
CDGR to launch rescue 1122 emergency service

CDGR to launch rescue 1122 emergency service

The City District Government Rawalpindi will launch Model Rescue 1122 emergency service from July 1 to provide quick relief to people during emergencies and disasters. The government would induct 300 rescuers in the force who have completed 4-month basic
Published 26 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Monday (June 25, 2007) and the forecast for Tuesday (June 26, 2007).
Published 26 Jun, 2007 12:00am
Home-based workers policy on international pattern soon: Sumaira

Home-based workers policy on international pattern soon: Sumaira

The Minister for Women Development and Youth Affairs Sumaira Malik has said that national policy on home-based workers must be formulated according to the international policy pattern and draft law will be prepared to be placed before the National Assembl
Published 26 Jun, 2007 12:00am
Senate to host seminar on child protection

Senate to host seminar on child protection

The Senate of Pakistan is hosting the Regional Parliamentary Seminar on "Developing a protective environment for South Asian children - the role of parliamentarians in the protection of children in the Juvenile Justice System".
Published 26 Jun, 2007 12:00am
SDPD seminar on legislative drafting today

SDPD seminar on legislative drafting today

Parliamentarians, judicial branch law drafters, parliamentary staff, and other individuals with interest in effective legislative drafting techniques and methods will attend one-day legislative drafting seminar on Tuesday evening.
Published 26 Jun, 2007 12:00am
'Currency crisis in Asia' moot on July 2

'Currency crisis in Asia' moot on July 2

Whether and to what extent monetary integration in various blocs of Asia can lower exchange rate risks to prevent a currency crisis that hit the region ten years ago? Top financial experts and officials from across Asia will gather in Philippines next wee
Published 26 Jun, 2007 12:00am
Remote control wireless cameras in Karachi

Remote control wireless cameras in Karachi

In a bid to avoid any untoward incident, Karachi police will install remote control wireless cameras at different locations of the city. The police would monitor suspected activities through these cameras, taking prompt action against these elements, a pr
Published 26 Jun, 2007 12:00am
Rs 24.9 billion CDA's surplus budget presented

Rs 24.9 billion CDA's surplus budget presented

Capital Development Authority (CDA) on Monday presented a surplus budget of Rs 24.9 billion for the fiscal 2007-08, showing an increase of 18 percent over the last fiscal. Kamran Qureshi, Acting Chairman CDA, flanked by members engineering, planning, esta
Published 26 Jun, 2007 12:00am
Rs 24.9 billion CDA's surplus budget presented

Rs 24.9 billion CDA's surplus budget presented

Capital Development Authority (CDA) on Monday presented a surplus budget of Rs 24.9 billion for the fiscal 2007-08, showing an increase of 18 percent over the last fiscal. Kamran Qureshi, Acting Chairman CDA, flanked by members engineering, planning, esta
Published 26 Jun, 2007 12:00am
Traffic laws: ICCI for introduction of education in schools

Traffic laws: ICCI for introduction of education in schools

The President Islamabad Chamber of Commerce and Industry (ICCI) urged upon introduction of education on traffic laws in schools and colleges to make them responsible citizens. Addressing a reception arranged by Saif-ul-Rehman, Chairman, ICCI in honour of
Published 26 Jun, 2007 12:00am
New petroleum policy to be implemented in July: Jadoon

New petroleum policy to be implemented in July: Jadoon

Minister for Petroleum and Natural Resources Amanullah Khan Jadoon said on Monday new petroleum policy has been finalised and will be sent to the Federal Cabinet in next few days for approval for its implementation from July next.
Published 26 Jun, 2007 12:00am
Sherpao lauds Sino-Pak cooperation in war on terror

Sherpao lauds Sino-Pak cooperation in war on terror

Interior Minister Aftab Ahmed Khan Sherpao said here on Monday that since Pakistan was the frontline state in fight against terrorism, both Pakistan and China had very good cooperation as regards sharing of information and learning from experience of each
Published 26 Jun, 2007 12:00am
China to cooperate in facilitating tourism in Pakistan

China to cooperate in facilitating tourism in Pakistan

The Federal Secretary Ministry of Tourism Shahid Rafi said here that China has in principle agreed to impart education and training for tourism and grant of scholarships to Pakistan. Rafi termed his meeting with Chairman, China National Tourism Administra
Published 26 Jun, 2007 12:00am
Deep-sea fishing: advice to fishermen

Deep-sea fishing: advice to fishermen

Advisor to Chief Minister on Fisheries Fakir Jaddam Mangrio has advised fishermen to avoid fishing trips in deep-sea in the wake of a rough weather forecast by Met office.
Published 26 Jun, 2007 12:00am
'End Torture Day' to be observed today

'End Torture Day' to be observed today

'End Torture Day' will be observed throughout the World on June 26. The 26th of June is observed each year as the UN International Day in Support of Victims of Torture. It is an opportunity to educate your community about the widespread presence of tortur
Published 26 Jun, 2007 12:00am
Soneri signs agreement with ZRG

Soneri signs agreement with ZRG

Soneri Bank has signed an agreement with ZRG through which ZRG will upgrade the capacity and capabilities of Soneri Bank customer service contact centre platform. The aim of this project is to provide faster services to Soneri Bank customers and to improv
Published 26 Jun, 2007 12:00am
Collapse of Potsdam talks

Collapse of Potsdam talks

The collapse of Potsdam talks, aimed at salvaging global trade negotiations, has put the future of WTO's Doha Round in jeopardy. According to news reports, trade ministers from the United States and European Union, representing the rich nations' interests
Published 26 Jun, 2007 12:00am
Orphans of Iraq

Orphans of Iraq

No war is a clean business. But the one now raging in Iraq is the worst in terms of collateral damage to life and property of the civilian, non-combatant population. Hundreds of thousands of Iraqis have perished, over two million fled the country and almo
Published 26 Jun, 2007 12:00am
Islamic Finance: emerging challenges of supervision

Islamic Finance: emerging challenges of supervision

The following is the text of speech delivered by the Governor of State Bank of Pakistan at the fourth Islamic Financial Services Board Summit in Dubai last month. Diversification and structural transformation in financial sector has been accompanied by in
Published 26 Jun, 2007 12:00am
Political landscape altered by Asian economic crisis

Political landscape altered by Asian economic crisis

On most evenings on a leafy street in the Indonesian capital's exclusive Menteng district, a running television set can be seen through the huge bay window of the biggest house on the block. Inside sits former President Suharto, who once saved Indonesia f
Published 26 Jun, 2007 12:00am
Efforts on to preserve Herat's antiquities

Efforts on to preserve Herat's antiquities

They survived three decades of war but risk being toppled by road traffic -- the last five mediaeval minarets of Herat are being slowly shaken to dust. The minarets are all that remain of what was once a wonder of art and architecture, a brilliantly decor
Published 26 Jun, 2007 12:00am
Save the National Training Bureau

Save the National Training Bureau

A National Training Bureau was planned to be set up in Islamabad to impart highly vocational training to the skilled labour which is in great demand in foreign countries. The Bureau was to be set up with huge foreign assistance by a number of European cou
Published 26 Jun, 2007 12:00am
Electricity failure

Electricity failure

It was a fashion to talk about load-shedding in previous years, but since the Karachi Electric Supply Company (KESC) had been privatised, the fashion has changed into havoc and disrupted the life of 150 million people of Karachi. The power supply remains
Published 26 Jun, 2007 12:00am
Anti-Rushdie protest: British awards burnt in Kalat

Anti-Rushdie protest: British awards burnt in Kalat

The grandchildren of former soldiers, decorated by the British during the World War I heroics burnt their ancestral medals in Kalat to protest the knighthood conferred on Slaman Rushdie, reports BBC.
Published 26 Jun, 2007 12:00am
Indian youth team to visit Pakistan

Indian youth team to visit Pakistan

A 10-member Indian youth delegation is scheduled to visit Pakistan next week, Deputy High Commissioner Afrasiab said here on Monday. The delegation would leave the Indian capital on Saturday (June 30) and meet representatives of Pakistan youth organisatio
Published 26 Jun, 2007 12:00am
Water situation improves: Irsa

Water situation improves: Irsa

Water situation in the country has improved significantly says a press release issued by Indus River System Authority (Irsa) It said considerable improvement is observed in all major rivers and rim station inflows has increased to 287,000 cusecs from 258,
Published 26 Jun, 2007 12:00am
Six-member family slaughtered

Six-member family slaughtered

A six-member family was slaughtered on Sunday/Monday night at Mehboobabad in Dera Ghazi Khan city. Neighbours informed the police that there was no response from Rahim Bakhsh's home and blood is flowing out.
Published 26 Jun, 2007 12:00am
Former Balochistan governor's death condoled

Former Balochistan governor's death condoled

Chairman Senate, Mohammedmian Soomro, Acting Chairman Senate, Jan Mohammad Khan Jamali and leader of the House in the Senate, Wasim Sajjad have expressed their deep grief and sorrow over the sad demise of former governor of Balochistan, Brigadier Abdul Ra
Published 26 Jun, 2007 12:00am
European gold slips

European gold slips

Gold prices slipped on Monday as weakness in oil prices, base metals and equities prompted bullion investors to lock in profits, analysts said. A report from the Bank of International Settlements warning about inflationary pressures also dampened sentimen
Published 26 Jun, 2007 12:00am
Lead at new high, copper rebounds from low

Lead at new high, copper rebounds from low

Lead prices raced to a fresh record high on Monday on worries about supply from China, while copper rallied from a one-week low. Lead, used mainly in batteries, ended London Metal Exchange trade at a new peak of $2,710 per tonne, up $170 from Friday's clo
Published 26 Jun, 2007 12:00am
New York cotton futures settle lower

New York cotton futures settle lower

Cotton futures finished slightly easier Monday on sales by small speculators as the market looked toward release of a key government plantings report at the end of this week, analysts said. The New York Board of Trade's key December cotton contract shed 0
Published 26 Jun, 2007 12:00am
FTSE snaps five-day losing streak

FTSE snaps five-day losing streak

Britain's leading shares rose on Monday breaking their worst losing streak for seven months, as gains in shares of oil producer BP and a sharp rally on Wall Street offset declines in mining and financial stocks. World markets were rattled by concern about
Published 26 Jun, 2007 12:00am
Monday's early afternoon trade: US indices rise as bond yields fall

Monday's early afternoon trade: US indices rise as bond yields fall

US stocks rose on Monday as a drop in benchmark bond yields and oil prices below $70 a barrel calmed inflation concerns, while data tempered worries about the housing market. The retreat in yields of US government debt helped buying of interest-rate sensi
Published 26 Jun, 2007 12:00am
Bonds: iTraxx wobbles amid subprime fears

Bonds: iTraxx wobbles amid subprime fears

European credit markets pared earlier losses on Monday, with some support from US home sales data, although worries lingered about the subprime market in the United States. The iTraxx Crossover index, made up of 50 mostly "junk"-credits, was about 7 basis
Published 26 Jun, 2007 12:00am
Bonds: iTraxx wobbles amid subprime fears

Bonds: iTraxx wobbles amid subprime fears

European credit markets pared earlier losses on Monday, with some support from US home sales data, although worries lingered about the subprime market in the United States. The iTraxx Crossover index, made up of 50 mostly "junk"-credits, was about 7 basis
Published 26 Jun, 2007 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee eased to its lowest finish in over a week on Monday, with investors paring holdings in the high-yielding local unit as global appetite for risky assets waned, and on dollar demand from oil refiners.
Published 26 Jun, 2007 12:00am
Yen rebounds versus majors

Yen rebounds versus majors

The yen rebounded against major currencies on Monday as continued jitters permeating riskier asset markets led investors to trim over-extended positions and partially unwind so-called carry trades.
Published 26 Jun, 2007 12:00am
Sterling hits $2

Sterling hits $2

The pound popped above the psychologically important $2 level versus the dollar on Monday for the first time since May 1, as investors anticipate a UK rate hike in July rather than August.
Published 26 Jun, 2007 12:00am
Six tribal leaders among 77 killed in Iraq

Six tribal leaders among 77 killed in Iraq

A suicide bomber killed six Iraqi tribal leaders opposed to al Qaeda when he blew himself up at a busy Baghdad hotel, in one of four attacks on Monday that killed 50 people in all, police said.
Published 26 Jun, 2007 12:00am
North Korea has funds, awaits UN nuclear team

North Korea has funds, awaits UN nuclear team

North Korea said on Monday it would start implementing a nuclear disarmament deal struck in February and awaits a visit by UN inspectors now that a dispute over its funds frozen at a Macau Bank had been resolved.
Published 26 Jun, 2007 12:00am
Egyptologists think they have Hatshepsut's mummy

Egyptologists think they have Hatshepsut's mummy

Egyptologists think they have identified with certainty the mummy of Hatshepsut, the most famous queen to rule ancient Egypt, found in a humble tomb in the Valley of the Kings, an archaeologist said on Monday.
Published 26 Jun, 2007 12:00am
EU sets talks on new policy areas with Turkey

EU sets talks on new policy areas with Turkey

The European Union agreed on Monday to extend membership talks with Turkey to two new policy areas but stopped short of opening discussions on the key area of economic and monetary policy, central to EU membership.
Published 26 Jun, 2007 12:00am
Iran invites IAEA team to help ease nuclear fears

Iran invites IAEA team to help ease nuclear fears

Iran has invited the International Atomic Energy Agency to send a team to agree how to resolve long-standing IAEA questions about Tehran's nuclear programme, the UN watchdog said on Monday.
Published 26 Jun, 2007 12:00am
World Bank unanimously approves Zoellick as chief

World Bank unanimously approves Zoellick as chief

The World Bank on Monday unanimously approved Robert Zoellick as its president after a controversial two-year term by Paul Wolfowitz, who agreed to resign over a promotion scandal involving his companion.
Published 26 Jun, 2007 12:00am
Kidnapped BBC newsman in 'bomb belt' threat video

Kidnapped BBC newsman in 'bomb belt' threat video

Kidnapped BBC journalist Alan Johnston has appeared in a frightening new video, saying he is wearing a bomb-belt that his Gaza captors will detonate if there is any attempt to rescue him.
Published 26 Jun, 2007 12:00am
Hamas releases tape of captured Israeli soldier

Hamas releases tape of captured Israeli soldier

An Israeli soldier captured a year ago by militants from Gaza asked for medical treatment and urged Israel to release Palestinian prisoners in an audio tape posted on the Internet on Monday.
Published 26 Jun, 2007 12:00am
Israel to free 250 prisoners

Israel to free 250 prisoners

Israeli Prime Minister Ehud Olmert said on Monday he intended to free 250 Palestinian prisoners from Israeli jails in a gesture to President Mahmoud Abbas, leader of the Fatah faction.
Published 26 Jun, 2007 12:00am
Gaddafi touts Africa government

Gaddafi touts Africa government

Libyan leader Muammar Gaddafi vowed on Monday to push through a plan for an African continental government as he toured West Africa en route to a summit to discuss the proposal.
Published 26 Jun, 2007 12:00am
Olmert and Abbas hold first talks since Gaza loss

Olmert and Abbas hold first talks since Gaza loss

Israeli and Palestinian leaders held talks on Monday for the first time since Hamas defeated Fatah forces in the Gaza Strip, leading to a political split between the two Palestinian territories.
Published 26 Jun, 2007 12:00am
Darfur meeting ends without concrete action

Darfur meeting ends without concrete action

An international meeting on Darfur ended on Monday with promises to support peace-keeping efforts and a political process to stop the violence in western Sudan but with few concrete steps.
Published 26 Jun, 2007 12:00am
Sixteen die in Afghan clash

Sixteen die in Afghan clash

Afghan and Nato forces killed 13 Taliban militants in a day-long battle in southern Afghanistan, in which three policemen also died, a provincial police chief said on Monday. The Taliban fighters attacked a police post in Zehri district of Kandahar provin
Published 26 Jun, 2007 12:00am
Pope names new inter-faith dialogue envoy

Pope names new inter-faith dialogue envoy

Pope Benedict XVI has appointed a French cardinal to head the pontifical council for dialogue between religions, restoring a post he abolished early last year, a Vatican statement said Monday. Cardinal Jean-Louis Tauran, a native of Bordeaux in south-west
Published 26 Jun, 2007 12:00am
27 passengers killed in Myanmar shootings

27 passengers killed in Myanmar shootings

A total of 27 people were killed and 11 injured last week when ethnic rebels attacked two passenger buses in south-eastern Myanmar, state media said Monday. Ten people were killed and three wounded Thursday in an attack on a minibus in Karen state, near t
Published 26 Jun, 2007 12:00am
Thai election officials accuse Thaksin allies of vote fraud

Thai election officials accuse Thaksin allies of vote fraud

Thai electoral officials on Monday recommended that nine top allies of ousted prime Thaksin Shinawatra face criminal charges of vote fraud. An investigation by the Election Commission found that nine senior members of Thaksin's Thai Rak Thai party were gu
Published 26 Jun, 2007 12:00am
Ethiopia rebels accuse government of killing 40 in raids

Ethiopia rebels accuse government of killing 40 in raids

Rebels in Ethiopia's remote eastern Somali region accused the government on Monday of using warplanes to bomb three villages, killing around 40 people, in an escalating offensive against the insurgents.
Published 26 Jun, 2007 12:00am
Castro charges Bush ordered him killed

Castro charges Bush ordered him killed

Cuba's communist leader Fidel Castro accused US President George W. Bush of ordering him killed even before moving into the White House, in an article published in the newspaper Granma Monday.
Published 26 Jun, 2007 12:00am
Egypt jails engineer for spying for Israel

Egypt jails engineer for spying for Israel

Egypt's state security court sentenced an engineer to 25 years' jail on Monday for betraying nuclear secrets to Israel. Mohammed Sayyed Saber, 35, who was arrested at the beginning of the year, had pleaded not guity to the charges.
Published 26 Jun, 2007 12:00am
Hingis survives court two scare

Hingis survives court two scare

Former champion Martina Hingis had a scare against British wildcard Naomi Cavaday, saving two match points before winning 6-7 7-5 6-0 in the first round at Wimbledon on Monday.
Published 26 Jun, 2007 12:00am
Muralitharan destroys Bangladesh in first Test

Muralitharan destroys Bangladesh in first Test

Spin wizard Muttiah Muralitharan claimed his 58th five-wicket haul as Sri Lanka overpowered Bangladesh on the opening day of the first cricket Test here on Monday. The off-spinner grabbed five wickets for 15 runs as Bangladesh, sent in to bat in overcast
Published 26 Jun, 2007 12:00am
Indian board issues warning over unofficial league

Indian board issues warning over unofficial league

India's cricket board has warned its players against joining unapproved competitions in a bid to counter a new league being planned in September. The Indian Cricket League (ICL) is being set up by the Essel Group, which controls the country's biggest list
Published 26 Jun, 2007 12:00am
Henry completes 24 million euro move to Barcelona

Henry completes 24 million euro move to Barcelona

France striker Thierry Henry completed his 24-million euro move from Arsenal to Barcelona on Monday. Henry, who turns 30 in August, was unveiled at the Nou Camp after passing a medical and putting pen to paper on a four-year deal with the Primera Liga sid
Published 26 Jun, 2007 12:00am
FIFA leadership to re-examine altitude ban

FIFA leadership to re-examine altitude ban

World soccer's governing body FIFA is to re-examine its controversial ban on playing football at high altitude when the organisation's executive committee meets in Zurich on Wednesday.
Published 26 Jun, 2007 12:00am
Illness strikes India on eve of South Africa opener

Illness strikes India on eve of South Africa opener

India have been struck down by illness, with more than half of their 14-man squad suffering, on the eve of their opening one-day international against South Africa at Stormont here Tuesday and have had to call up reinforcements for their tour of the Unite
Published 26 Jun, 2007 12:00am
Yuan closes higher

Yuan closes higher

China's yuan ended higher against the dollar on Monday, taking its cues from a stronger mid-point set by the central bank and resuming its steady long-term uptrend afterr a correction late last week The yuan closed against the dollar at 7.6194, up from Fr
Published 26 Jun, 2007 12:00am
Hong Kong dollar firms

Hong Kong dollar firms

The Hong Kong dollar recouped early losses to end higher on Monday despite weakness in the stock market. The currency was trading at 7.8122/23 against the US dollar, off a morning low of 7.8152 and stronger than the 7.8137/40 it stood at in late Friday tr
Published 26 Jun, 2007 12:00am
Asian currencies mostly rangebound

Asian currencies mostly rangebound

The Indonesian rupiah hit a one-week low on Monday as investors limited exposure to riskier assets, while Asian currencies mostly stuck in narrow ranges ahead of a Federal Reserve meeting later this week.
Published 26 Jun, 2007 12:00am
Yen stuck near 4-1/2-year low

Yen stuck near 4-1/2-year low

The yen was pinned near a 4-1/2-year low against the dollar and an all-time trough versus the euro on Monday, staying under pressure as investors kept selling the low-yielding currency in carry trades.
Published 26 Jun, 2007 12:00am
Swiss franc holds onto gains

Swiss franc holds onto gains

The Swiss franc on Monday held onto gains won against major currencies last week when an increasingly activist Swiss National Bank again let its daily repo rate rise, fuelling speculation for higher rates.
Published 26 Jun, 2007 12:00am
Australian dollar dips from 18-year peak

Australian dollar dips from 18-year peak

The Australian dollar eased from a fresh 18-year peak against the US dollar on Monday, but demand for high-yielding currencies and a robust economic outlook could see it test fresh highs in the near term.
Published 26 Jun, 2007 12:00am
Nikkei slips as property firms down

Nikkei slips as property firms down

The Nikkei share average slipped 0.56 percent on Monday as Sumitomo Realty & Development Co Ltd and other property firms were hit by concerns about higher interest rates at home and worries about the US subprime mortgage market.
Published 26 Jun, 2007 12:00am
Philippines shares end 1.29 percent lower

Philippines shares end 1.29 percent lower

Philippines share prices closed 1.29 percent lower on Monday as investors cashed in on recent gains, tracking the weakness in other markets in Asia after US stocks slid on Friday, dealers said.
Published 26 Jun, 2007 12:00am
Indian shares gain

Indian shares gain

Indian share prices rose 0.14 percent on Monday in cautious trade, as global markets turned weak ahead of a monetary policy meeting of the US Federal Reserve on Wednesday, dealers said. They said software and automobile stocks fell on a sell-off.
Published 26 Jun, 2007 12:00am
Chinese shares sink 3.7 percent

Chinese shares sink 3.7 percent

China's main stock index plunged 3.68 percent on Monday, hit by worries about government policies to cool the economy and market, and by big losses in oil refining giant Sinopec after its chairman resigned.
Published 26 Jun, 2007 12:00am
Jakarta shares plunge

Jakarta shares plunge

Indonesian share prices closed little changed on Monday with early weakness from Wall Street's poor finish Friday offset by a rebound in Perusahaan Gas Negara, and gains in miners, dealers said.
Published 26 Jun, 2007 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian share prices closed 1.03 percent lower on Monday due to a plunge in US markets and concerns over a hike in global interest rates, dealers said. The Kuala Lumpur Composite Index lost 14.44 points at 1,377.13, off a low of 1,374.65, on volume of 1
Published 26 Jun, 2007 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares fell in a very volatile session on Monday as exporters were hit by worries that trouble in the US subprime lending markets would hit US consumer spending and by concerns about a stronger won currency.
Published 26 Jun, 2007 12:00am
JGBs slightly up

JGBs slightly up

Japanese government bonds inched up on Monday, following a rise in US Treasuries, but gains were limited as investors were wary of buying bonds aggressively ahead of a barrage of domestic economic data due this week. Investors are awaiting figures on indu
Published 26 Jun, 2007 12:00am
JGBs slightly up

JGBs slightly up

Japanese government bonds inched up on Monday, following a rise in US Treasuries, but gains were limited as investors were wary of buying bonds aggressively ahead of a barrage of domestic economic data due this week. Investors are awaiting figures on indu
Published 26 Jun, 2007 12:00am
Vietnam raises $62 million in bond sales

Vietnam raises $62 million in bond sales

Vietnam raised 1 trillion dong ($62 million) from two auctions of government bonds this month, 700 billion dong short of its target, the Hanoi stock exchange said on Monday. The exchange said in one auction of one trillion dong on June 18, only half the i
Published 26 Jun, 2007 12:00am
Vietnam raises $62 million in bond sales

Vietnam raises $62 million in bond sales

Vietnam raised 1 trillion dong ($62 million) from two auctions of government bonds this month, 700 billion dong short of its target, the Hanoi stock exchange said on Monday. The exchange said in one auction of one trillion dong on June 18, only half the i
Published 26 Jun, 2007 12:00am
Hong Kong stocks break winning streak

Hong Kong stocks break winning streak

Hong Kong stocks retreated from new highs on Monday after investors sold recent gainers such as PetroChina as the prospect of policy tightening by Beijing sent mainland stock markets tumbling.
Published 26 Jun, 2007 12:00am
Taiwan stocks hit seven-year high

Taiwan stocks hit seven-year high

Taiwan stocks rose 1.43 percent to a 7-year closing high on Monday as an announcement by the front-runner of the island's next presidential election sparked hopes of an improving economic outlook.
Published 26 Jun, 2007 12:00am
Thai share prices drop

Thai share prices drop

Thai share prices closed 1.03 percent lower on Monday on profit-taking in rate-sensitive stocks ahead of the US Federal Reserve's meeting on interest rates this week, dealers said. They said the Thai bourse dropped in line with other regional stocks on US
Published 26 Jun, 2007 12:00am
Singapore shares sag

Singapore shares sag

Singapore share prices closed 0.97 percent lower on Monday on continued profit-taking in selected blue chips, dealers said. The Straits Times Index closed down 35.05 points at 3,580.33 on volume of 4.88 billion shares worth 2.64 billion dollars (1.71 bill
Published 26 Jun, 2007 12:00am
Vietnam trade deficit grows to $4.7 billion

Vietnam trade deficit grows to $4.7 billion

Vietnam's trade deficit grew to 4.78 billion dollars in the first half of 2007 as it earned less from oil and rice exports and paid more for raw material and machinery imports, officials said Monday.
Published 26 Jun, 2007 12:00am
Indonesia and Australia mull free trade agreement

Indonesia and Australia mull free trade agreement

Indonesian and Australian leaders are to consider carrying out a feasibility study on drafting a free trade agreement (FTA), their trade ministers said on Monday.
Published 26 Jun, 2007 12:00am
Black Sea leaders discuss economic ties

Black Sea leaders discuss economic ties

The leaders of a dozen nations in the Black Sea region, including Russian President Vladimir Putin, met in Istanbul under tight security on Monday for a summit on trade, transport and energy cooperation.
Published 26 Jun, 2007 12:00am
Nintendo briefly outstrips Sony in market value

Nintendo briefly outstrips Sony in market value

Nintendo Co Ltd briefly zipped past Sony Corp in market capitalisation on Monday to become one of Japan's 10 most valuable companies as it elbows the PlayStation maker out of its decade-long dominance of the game industry.
Published 26 Jun, 2007 12:00am
Most opium now processed inside Afghanistan: UN

Most opium now processed inside Afghanistan: UN

Sophisticated laboratories inside Afghanistan are now converting 90 percent of the country's opium into heroin and morphine before smuggling it around the world, the United Nations said Monday.
Published 26 Jun, 2007 12:00am
LSE confident of shareholder support for Italy deal

LSE confident of shareholder support for Italy deal

The London Stock Exchange (LSE) is confident of winning shareholder support for its 1.6 billion euro ($2.2 billion) take-over of Borsa Italiana, it said on Monday, despite a mixed reception to the deal.
Published 26 Jun, 2007 12:00am
US existing home sales down

US existing home sales down

The pace of existing home sales in the United States was off slightly in May to a 5.99 million-unit annual rate, the National Association of Realtors said in a report on Monday that showed continued weakness in the housing sector.
Published 26 Jun, 2007 12:00am
Global role of euro differs across global markets: ECB

Global role of euro differs across global markets: ECB

The European Central Bank said on Monday that the international role of the euro has become differentiated, depending on the particular global market segment being looked at. In its sixth annual review of the international role of the euro, published on M
Published 26 Jun, 2007 12:00am
EU tightens securitisation rules for budget gaps

EU tightens securitisation rules for budget gaps

The European Union's statistics office tightened accounting rules on Monday for the use of securitisation operations by governments as a way to clean up their public accounts.
Published 26 Jun, 2007 12:00am
EU adopts caps on cross-border mobile roaming rates

EU adopts caps on cross-border mobile roaming rates

The European Union on Monday formally adopted rules slashing the cost of cross border mobile phone calls in the 27-nation bloc, paving the way for their application in the coming months. EU ministers in charge of competitiveness issues rubberstamped the r
Published 26 Jun, 2007 12:00am
End 'hypocrisy' on environment: WEF forum told

End 'hypocrisy' on environment: WEF forum told

The World Economic Forum on East Asia heard contending views Monday about who is responsible for global environmental damage, with one official accusing developed nations of hypocrisy. Malaysia's Second Minister of Finance Nor Mohamed Yakcop said "the com
Published 26 Jun, 2007 12:00am
Poverty and education must remain on Asian agenda

Poverty and education must remain on Asian agenda

Poverty and education must remain on Asia's agenda even as it forges ahead with high economic growth and focuses on tackling climate change, delegates to a regional economic forum heard Monday.
Published 26 Jun, 2007 12:00am
Malaysian workers demand wage raises

Malaysian workers demand wage raises

Thousands of Malaysian workers staged a nation-wide protest Monday to demand the government set a 900 ringgit (260 dollars) monthly minimum wage for private sector employees. Officials from Malaysia's largest trade union estimated that 30,000 workers demo
Published 26 Jun, 2007 12:00am
Exxon and Conoco refuse to sign Venezuela deal

Exxon and Conoco refuse to sign Venezuela deal

Exxon Mobil and ConocoPhillips, two of the world's top oil companies, have refused to sign a deal to stay in multi-billion dollar Venezuelan projects that are being nationalised, officials said on Monday.
Published 26 Jun, 2007 12:00am
Taxpayers can't sue on faith-based plan: US court

Taxpayers can't sue on faith-based plan: US court

A closely divided US Supreme Court ruled on Monday that taxpayers cannot challenge President George W. Bush's use of government funds to finance social programs operated by religious groups.
Published 26 Jun, 2007 12:00am
India's ICICI Bank likely to raise record sales to $4.9 billion

India's ICICI Bank likely to raise record sales to $4.9 billion

India's largest private sector lender ICICI Bank is considering increasing the size of its record share sale by 15 percent to 4.94 billion dollars, officials said Monday. ICICI Bank said it raised 175 billion rupees (4.3 billion dollars) through the share
Published 26 Jun, 2007 12:00am
France Telecom shares fall

France Telecom shares fall

Shares in France Telecom fell by 2.76 percent to 20.42 euros in early Paris trading on Monday after the government said it would sell at least five percent of its stake to reduce national debt. The CAC-40 index of leading shares had lost 0.95 percent over
Published 26 Jun, 2007 12:00am
France Telecom shares fall

France Telecom shares fall

Shares in France Telecom fell by 2.76 percent to 20.42 euros in early Paris trading on Monday after the government said it would sell at least five percent of its stake to reduce national debt. The CAC-40 index of leading shares had lost 0.95 percent over
Published 26 Jun, 2007 12:00am
EasyJet exercises options over 35 Airbus A319 jets

EasyJet exercises options over 35 Airbus A319 jets

British no-frills airline easyJet on Monday said it has agreed with European aircraft manufacturer Airbus to exercise options over 35 Airbus A319 jets for delivery in 2011 and 2012.
Published 26 Jun, 2007 12:00am
Arroyo says Philippine economy has 'turned corner'

Arroyo says Philippine economy has 'turned corner'

The Philippines' economy has "turned the corner" and the country will work to ensure its gains are sustainable, President Gloria Arroyo said Monday during a state visit to Singapore.
Published 26 Jun, 2007 12:00am
Nicaragua asks Taiwan for debt write-off

Nicaragua asks Taiwan for debt write-off

Nicaragua has asked Taiwan to waive tens of millions of US dollars in debt, a Taiwanese official said Monday, upping the pressure on Taipei as it tries to keep its remaining allies in central America.
Published 26 Jun, 2007 12:00am
India begins doling out aid to boost quality tea production

India begins doling out aid to boost quality tea production

India on Monday began distributing 1.2 billion dollars in aid to help tea planters facing a decade-long slump in tea prices caused by stiff competition in the global market. The package, first announced last May, aims to boost India's production of high-q
Published 26 Jun, 2007 12:00am
ONGC reports 13.1 percent dip in fourth quarter profit

ONGC reports 13.1 percent dip in fourth quarter profit

State-run Oil and Natural Gas Corp, India's largest crude-oil producer, said Monday fourth-quarter profit fell 13.1 percent from a year earlier, hit by discounted sales to domestic refiners.
Published 26 Jun, 2007 12:00am
ONGC reports 13.1 percent dip in fourth quarter profit

ONGC reports 13.1 percent dip in fourth quarter profit

State-run Oil and Natural Gas Corp, India's largest crude-oil producer, said Monday fourth-quarter profit fell 13.1 percent from a year earlier, hit by discounted sales to domestic refiners.
Published 26 Jun, 2007 12:00am
Japan to tighten investment fund regulation

Japan to tighten investment fund regulation

Japan plans to introduce more stringent checks on investment funds, making all operators subject to inspection following consumer complaints about inadequate protection, an official said Monday.
Published 26 Jun, 2007 12:00am
Japan to tighten investment fund regulation

Japan to tighten investment fund regulation

Japan plans to introduce more stringent checks on investment funds, making all operators subject to inspection following consumer complaints about inadequate protection, an official said Monday.
Published 26 Jun, 2007 12:00am
Daimler optimistic on outlook without Chrysler

Daimler optimistic on outlook without Chrysler

The German-US auto giant DaimlerChrysler is confident the next few years will be positive now that it is getting rid of its loss-making US arm, Chrysler, chief executive Dieter Zetsche said in a newspaper interview published on Monday.
Published 26 Jun, 2007 12:00am
Australian shares down

Australian shares down

Australian share prices closed down 0.83 percent on Monday with investor sentiment shaken by the sell-off on Wall Street on Friday, dealers said. But they said despite the negative sentiment, most sectors were mixed. The key S&P/ASX 200 closed down 52.9 p
Published 26 Jun, 2007 12:00am
New Zealand shares fall

New Zealand shares fall

New Zealand share prices closed 0.33 percent lower on Monday after sentiment was hurt by heavy losses on Wall Street and in the region, dealers said. The NZX-50 gross index fell 14.23 points to 4,270.91 on turnover worth 137.5 million dollars (105.4 milli
Published 26 Jun, 2007 12:00am
US housing seen as drag on growth into 2008: Citigroup

US housing seen as drag on growth into 2008: Citigroup

A weak housing sector will remain a drag on US economic growth into 2008, given its negative effect on home construction and household wealth, Lewis Alexander, Citigroup's chief economist said on Monday.
Published 26 Jun, 2007 12:00am
Russia inquiries force PwC to withdraw Yukos audits

Russia inquiries force PwC to withdraw Yukos audits

The international accountancy group PricewaterhouseCoopers (PwC) has withdrawn nine years of audits for bankrupt oil group Yukos following a series of tax inquiries, PwC said on Monday.
Published 26 Jun, 2007 12:00am
Sri Lanka holds policy rates steady

Sri Lanka holds policy rates steady

Sri Lanka's central bank on Monday held official interest rates steady at their highest levels since 2002, saying short-term interest rates were at a stable level. The overnight repurchase rate remains at 10.50 percent and the reverse repurchase rate was
Published 26 Jun, 2007 12:00am
Austria's OMV ups MOL stake

Austria's OMV ups MOL stake

Austrian oil refiner OMV proposed a $36 billion merger with Hungarian rival MOL on Monday, after nearly doubling its stake in MOL to 18.6 percent. OMV said its request for friendly talks with MOL was a response to restructuring in the European refining in
Published 26 Jun, 2007 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures edged lower in thin trade on Monday, pressured by a decline in prices of rival soyabean oil and faltering export demand. The benchmark September contract on the Bursar Malaysia Derivatives Exchange settled down 8 ringgit,
Published 26 Jun, 2007 12:00am
Indonesian palm oil mixed

Indonesian palm oil mixed

Indonesian palm oil prices were mixed on Monday, reflecting local demand combined with government intervention to curb rising cooking oil prices and losses in Malaysia. In Jakarta, the state marketing centre which sells palm oil from state plantations, cr
Published 26 Jun, 2007 12:00am
Indian soyaoil dips on weak Malaysia; sugar down

Indian soyaoil dips on weak Malaysia; sugar down

A weak Malaysian market pulled Indian soyaoil futures lower on Monday, while sugar was down as mills continue to struggle with falling prices. July soyaoil futures on the National Commodity and Derivatives Exchange (NCDEX) were down 1.20 rupees at 487.40
Published 26 Jun, 2007 12:00am
South Korea may buy corn

South Korea may buy corn

South Koreans are expected to buy corn after US prices fell late last week, while rising freight costs are expected to keep Japanese and Taiwanese buyers on the sidelines, traders said on Monday. Taiwanese importers are likely to be mostly quiet this week
Published 26 Jun, 2007 12:00am
Massive irregularities found in EDF and EMDF

Massive irregularities found in EDF and EMDF

Irregularities amounting to Rs 841.775 million in the Export Development Fund (EDF) and Rs 678.506 million in Export Market Development Fund (EMDF), were discovered by the Auditor General of Pakistan.
Published 26 Jun, 2007 12:00am
Russian grain prices keep rising

Russian grain prices keep rising

Grain prices continued their upward march on a shortage of offers from most regions, with the market preoccupied by prospects for the future harvest. Bad weather conditions have led to serious damage to crops sown in the Restive and Volgograd regions.
Published 26 Jun, 2007 12:00am
Tanvir Agha next Auditor-General

Tanvir Agha next Auditor-General

President General Pervez Musharraf has approved the nomination of Tanvir Ali Agha, currently serving as Finance Secretary, as next Auditor-General of Pakistan (AGP). He will assume charge of his office after retirement of Yunis Khan, the incumbent AGP.
Published 26 Jun, 2007 12:00am
Nymex crude falls

Nymex crude falls

US crude futures fell more than half a dollar in opening trade on Monday after Nigerian unions called off a strike that had threatened to disrupt oil shipments from the world's eighth-largest exporter. NYMEX crude for August delivery fell by 58 cents to $
Published 26 Jun, 2007 12:00am
Tanvir Agha next Auditor-General

Tanvir Agha next Auditor-General

President General Pervez Musharraf has approved the nomination of Tanvir Ali Agha, currently serving as Finance Secretary, as next Auditor-General of Pakistan (AGP). He will assume charge of his office after retirement of Yunis Khan, the incumbent AGP.
Published 26 Jun, 2007 12:00am
Asian naphtha prices up

Asian naphtha prices up

Asian naphtha prices rose on Monday, reflecting higher crude prices, and its premium against Brent held steady on ample supplies, but traders said the market might bottom out this week on easing demand fears.
Published 26 Jun, 2007 12:00am
Tanvir Agha next Auditor-General

Tanvir Agha next Auditor-General

President General Pervez Musharraf has approved the nomination of Tanvir Ali Agha, currently serving as Finance Secretary, as next Auditor-General of Pakistan (AGP). He will assume charge of his office after retirement of Yunis Khan, the incumbent AGP.
Published 26 Jun, 2007 12:00am
Grain terminal capacity

Grain terminal capacity

Ukraine's Nubian agriculture company plans to invest up to $30 million in 2007 to increase capacity of its grain terminal to 3.0 million tonnes from 1.7 million, the company's head was quoted as saying on Monday.
Published 26 Jun, 2007 12:00am
Marginal raise in five saving schemes' profit rates

Marginal raise in five saving schemes' profit rates

The federal government has announced a marginal raise in the rates of profit on five different saving schemes by 8 to 50 basis points (bps) with a view to encourage new investment and rationalise the rates according to Pakistan Investment Bonds.
Published 26 Jun, 2007 12:00am
Oil prices slide to below $71 per barrel

Oil prices slide to below $71 per barrel

Oil prices fell by more than half a percent to below $71 a barrel on Monday as Nigerian unions ended a strike that had threatened to disrupt oil exports. Benchmark London Brent crude for August fell 47 cents to $70.71 a barrel.
Published 26 Jun, 2007 12:00am
Marginal raise in five saving schemes' profit rates

Marginal raise in five saving schemes' profit rates

The federal government has announced a marginal raise in the rates of profit on five different saving schemes by 8 to 50 basis points (bps) with a view to encourage new investment and rationalise the rates according to Pakistan Investment Bonds.
Published 26 Jun, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices were mixed on Monday, with dealers closely watching prices in Tokyo futures ahead of the expiry of the spot June contract. Improving supplies in Thailand, the world's largest rubber producer, put pressure on the price of raw m
Published 26 Jun, 2007 12:00am
Marginal raise in five saving schemes'' profit rates

Marginal raise in five saving schemes'' profit rates

The federal government has announced a marginal raise in the rates of profit on five different saving schemes by 8 to 50 basis points (bps) with a view to encourage new investment and rationalise the rates according to Pakistan Investment Bonds.
Published 26 Jun, 2007 12:00am
Ivory Coast cocoa arrivals down

Ivory Coast cocoa arrivals down

Cocoa arrivals at ports in Ivory Coast from October 1 to June 24 reached around 1,129,000 tonnes, compared with 1,249,127 in the same period a year, exporters said on Monday. Exporters estimated around 13,000 tonnes arrived at ports from June 18-24, down
Published 26 Jun, 2007 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin slipped 0.7 percent on Monday following lower prices on the London Metal Exchange but losses were limited by strong Japanese demand, one dealer said.
Published 26 Jun, 2007 12:00am
Gold dips

Gold dips

Gold eased on Monday after rising in New York on weakness in the dollar, while the most active contract in Tokyo platinum futures hit a record high on supply concerns. Spot gold dipped to $652.55/653.25 an ounce from $653.60/655.10 late in New York on Fri
Published 26 Jun, 2007 12:00am
Palladium rose

Palladium rose

Gold held steady on Monday after rising more than $2 an ounce the previous session, while a weaker yen lent support to yen-based futures prices in Tokyo, with the most active platinum contract hitting a record high. Spot gold was at $653.05/653.65 an ounc
Published 26 Jun, 2007 12:00am
Shanghai and LME copper steady

Shanghai and LME copper steady

Copper markets were steady on Monday as investors weighed easing demand from Chinese importers against the risk of supply disruption as labour unrest foments in major producing countries.
Published 26 Jun, 2007 12:00am
Tokyo rubber up on rumours

Tokyo rubber up on rumours

Tokyo rubber futures closed almost 1 percent higher on Monday on concerns over supplies amid a rumour of a fire at a rubber plant in southern Thailand in the weekend and burned inventories held at the plant.
Published 26 Jun, 2007 12:00am
Army and navy on high alert

Army and navy on high alert

Sindh Governor Dr Ishrat-ul-Ibad has said that all civic agencies, along with Army, Navy, and other departments are on 'high alert' to deal with any situation that may arise in the view of a storm, torrential rains and flood.
Published 26 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 101,706 tonnes cargo including 69,756 tonnes import, 31,950 tonnes export cargo and 2,880 containers (TEUs) during last 48 hours ending at 0700 hours on Monday.
Published 26 Jun, 2007 12:00am
Army and navy on high alert

Army and navy on high alert

Sindh Governor Dr Ishrat-ul-Ibad has said that all civic agencies, along with Army, Navy, and other departments are on 'high alert' to deal with any situation that may arise in the view of a storm, torrential rains and flood.
Published 26 Jun, 2007 12:00am
Daewoo to win six container ship orders

Daewoo to win six container ship orders

South Korea's Daewoo Shipbuilding & Marince Engineering Co Ltd said on Sunday it expects to win a combined $410 million in new orders to build six container ships for two European companies. "We will sign the deals within this month," a Daewoo spokesman t
Published 26 Jun, 2007 12:00am
Tenders invited for Rawalpindi-Islamabad rail link: Rashid

Tenders invited for Rawalpindi-Islamabad rail link: Rashid

Minister for Railways Rashid Ahmed has said that the twin cities of Rawalpindi and Islamabad will soon be linked with railway for mass transit, and tenders in this regard have been invited. He said this would help facilitate thousands of commuters of the
Published 26 Jun, 2007 12:00am
NOL moves 11 percent more cargo in May

NOL moves 11 percent more cargo in May

Singapore's Neptune Orient Lines, the world's eighth-biggest container shipping firm, carried 11 percent more containers on its ships in the four weeks to June 1 compared with the same year-ago period.
Published 26 Jun, 2007 12:00am
SECP finalises nine steps to boost equity market

SECP finalises nine steps to boost equity market

Security and Exchange commission of Pakistan (SECP) has finalised nine far reaching steps to further strengthen integrity and transparency in terms of price discovery and trade settlement in the equity market.
Published 26 Jun, 2007 12:00am
Shell aims to reopen Nigerian oil terminal

Shell aims to reopen Nigerian oil terminal

Royal Dutch Shell aims to resume operations at the Forcados oil export terminal in Nigeria next month, more than a year after it was shut by militant attacks, the company said on Monday.
Published 26 Jun, 2007 12:00am
Fire destroys Algeria's cereals area

Fire destroys Algeria's cereals area

Algeria, one of the world's largest grain importers, saw fire destroy 6,394 hectares of its cereals area this month, the official news agency APS reported on Monday. Fires caused by high summer temperatures had hit 3,602 hectares of wheat and 2,792 hectar
Published 26 Jun, 2007 12:00am
Cargo ship grounding disrupts traffic in Suez Canal

Cargo ship grounding disrupts traffic in Suez Canal

Traffic through the Suez Canal was disrupted for two hours on Sunday while tugs refloated a grounded cargo ship, officials said. A Suez Canal Authority official said the Indian-flagged bulk carrier ABG Narayana was travelling south through the canal when
Published 26 Jun, 2007 12:00am
Singapore bunker fuel prices ease

Singapore bunker fuel prices ease

Singapore bunker prices eased on Monday, as its differential to fuel oil cargoes remained in discount for the fourth straight day. Prices for 380-centistoke (cst) were pegged at $353-$355 a tonne, down $2 from the previous session, while the differential
Published 26 Jun, 2007 12:00am
2500 North Karachi units closed due to power outage

2500 North Karachi units closed due to power outage

As many as 2500 industrial units remain closed on Monday as the Karachi Electric Supply Corporation (KESC) failed to restore power supply to North Karachi industrial area even after around 72 hours. Industrialists said that there was no power supply even
Published 26 Jun, 2007 12:00am
Kazakh wheat may help ease Ukraine shortage

Kazakh wheat may help ease Ukraine shortage

Kazakhstan is prepared to fill gaps in grain supply left by severe drought in Ukraine and Russia, provided its own crop does not fall victim to unstable weather conditions, an industry official said on Monday.
Published 26 Jun, 2007 12:00am
2500 North Karachi units closed due to power outage

2500 North Karachi units closed due to power outage

As many as 2500 industrial units remain closed on Monday as the Karachi Electric Supply Corporation (KESC) failed to restore power supply to North Karachi industrial area even after around 72 hours. Industrialists said that there was no power supply even
Published 26 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 mostly steady on Monday as drier weather conditions allowed harvest to accelerate through Kansas, the top US wheat-growing state.
Published 26 Jun, 2007 12:00am
2500 North Karachi units closed due to power outage

2500 North Karachi units closed due to power outage

As many as 2500 industrial units remain closed on Monday as the Karachi Electric Supply Corporation (KESC) failed to restore power supply to North Karachi industrial area even after around 72 hours. Industrialists said that there was no power supply even
Published 26 Jun, 2007 12:00am
Gulf corn firm on export sales, soya steady

Gulf corn firm on export sales, soya steady

US CIF corn barge basis values held mostly steady Monday but had a firm tone due to export sales last week, traders said. Soyabean basis values were also firm amid strong demand from domestic processing plants. Exports were still lagging due to cheaper su
Published 26 Jun, 2007 12:00am
Bulls rule the roost on KSE

Bulls rule the roost on KSE

The Karachi share market on Monday opened on a positive note and the KSE-100 index closed near its intra-day high at 13,540.45 points level with a net gain of 147.98 points on the back of a fresh fund injection by the foreign investors, increasing oil pri
Published 26 Jun, 2007 12:00am
Thin trade due to short supply on grain market

Thin trade due to short supply on grain market

Thin business was seen on the grain market on Monday as supply position was tight in process of trading, dealers said. On the seed side, cottonseed oilcake with bag low type lost Rs 50 to Rs 400 and best type was lower by Rs 20 to Rs 600, dealers said.
Published 26 Jun, 2007 12:00am
Bulls rule the roost on KSE

Bulls rule the roost on KSE

The Karachi share market on Monday opened on a positive note and the KSE-100 index closed near its intra-day high at 13,540.45 points level with a net gain of 147.98 points on the back of a fresh fund injection by the foreign investors, increasing oil pri
Published 26 Jun, 2007 12:00am
Brazil weather cool, cloudy but no frost

Brazil weather cool, cloudy but no frost

A second cold front was due to pass through southern Brazil late this week, bringing further showers and cool, cloudy weather, but no risk of frost, private weather service Somar said on Monday.
Published 26 Jun, 2007 12:00am
Bulls rule the roost on KSE

Bulls rule the roost on KSE

The Karachi share market on Monday opened on a positive note and the KSE-100 index closed near its intra-day high at 13,540.45 points level with a net gain of 147.98 points on the back of a fresh fund injection by the foreign investors, increasing oil pri
Published 26 Jun, 2007 12:00am
No change of outlook on cotton market

No change of outlook on cotton market

Lacklustre business was seen on the cotton market on Monday as the ginners did not show any flexibility in their attitude towards prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600, they added.
Published 26 Jun, 2007 12:00am
BRIndex30 up 140.93 points

BRIndex30 up 140.93 points

On Monday, BRIndex30 opened at 15,006.38 in the green zone and remained there for the whole trading time. It closed at 15,145.87 with a net positive change of 140.93 points or 0.94 percent. It recorded intra-day high and intra-day low of 15,152.52 and 15,
Published 26 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December was higher on the forward cottonseed oilcake market on Monday, 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 said.
Published 26 Jun, 2007 12:00am
BRIndex30 up 140.93 points

BRIndex30 up 140.93 points

On Monday, BRIndex30 opened at 15,006.38 in the green zone and remained there for the whole trading time. It closed at 15,145.87 with a net positive change of 140.93 points or 0.94 percent. It recorded intra-day high and intra-day low of 15,152.52 and 15,
Published 26 Jun, 2007 12:00am
US Midwest corn and soyabeans mostly unchange

US Midwest corn and soyabeans mostly unchange

Spot basis bids for corn and soyabeans were mostly unchanged around the interior US Midwest Monday amid scattered selling by farmers who were trying to cash in grain they have been holding in storage, grain dealers said.
Published 26 Jun, 2007 12:00am
Rs 112.75 billion to be collected in June to achieve target

Rs 112.75 billion to be collected in June to achieve target

As revenue collections have reached Rs 722.25 billion in July-May 2006-07, the Central Board of Revenue (CBR) has to collect Rs 112.75 billion in June to meet the target of Rs 835 billion of the current fiscal year.
Published 26 Jun, 2007 12:00am
Jute goods higher on Jodia Bazaar

Jute goods higher on Jodia Bazaar

The trading on jute goods ended higher on Jodia Bazaar here on Monday. The following variations were noted.
Published 26 Jun, 2007 12:00am
BoI seeks independent status

BoI seeks independent status

The Board of Investment (BoI) has approached Prime Minister Shaukat Aziz to seek an independent status for itself, complaining that the Ministry of Privatisation and Investment, now headed by Zahid Hamid, has been delaying investment cases of urgent natur
Published 26 Jun, 2007 12:00am
BoI seeks independent status

BoI seeks independent status

The Board of Investment (BoI) has approached Prime Minister Shaukat Aziz to seek an independent status for itself, complaining that the Ministry of Privatisation and Investment, now headed by Zahid Hamid, has been delaying investment cases of urgent natur
Published 26 Jun, 2007 12:00am
BoI seeks independent status

BoI seeks independent status

The Board of Investment (BoI) has approached Prime Minister Shaukat Aziz to seek an independent status for itself, complaining that the Ministry of Privatisation and Investment, now headed by Zahid Hamid, has been delaying investment cases of urgent natur
Published 26 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 26 Jun, 2007 12:00am
Wean jobless people off extremism: Musharraf

Wean jobless people off extremism: Musharraf

President General Pervez Musharraf on Monday reiterated that writ of the government will be maintained and ensured at all times. Chairing a high-level meeting here at the Aiwan-e-Sadr the President expressed satisfaction on the strategy and steps being ta
Published 26 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 26 Jun, 2007 12:00am
Wean jobless people off extremism: Musharraf

Wean jobless people off extremism: Musharraf

President General Pervez Musharraf on Monday reiterated that writ of the government will be maintained and ensured at all times. Chairing a high-level meeting here at the Aiwan-e-Sadr the President expressed satisfaction on the strategy and steps being ta
Published 26 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 Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
LSE index up 29.18 points

LSE index up 29.18 points

The share market staged a smart recovery on Monday on the back of strong buying interest in Adamjee Insurance, Javed Omer Vohra & Co and Arif Habib Securities Ltd, resultantly the index surged by 0.61 percent, amid comparatively low volumes.
Published 26 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 Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
LSE index up 29.18 points

LSE index up 29.18 points

The share market staged a smart recovery on Monday on the back of strong buying interest in Adamjee Insurance, Javed Omer Vohra & Co and Arif Habib Securities Ltd, resultantly the index surged by 0.61 percent, amid comparatively low volumes.
Published 26 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 Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
Bulls hold sway on ISE

Bulls hold sway on ISE

Gainers outclassed losers at the Islamabad Stock Exchange (ISE) where bulls dominated the proceedings under the lead of trend-setters amid decrease in index. ISE-10 Index showed an increase of 9.60 points as the index moved from 2680.86 to 2690.46 points.
Published 26 Jun, 2007 12:00am
Bulls hold sway on ISE

Bulls hold sway on ISE

Gainers outclassed losers at the Islamabad Stock Exchange (ISE) where bulls dominated the proceedings under the lead of trend-setters amid decrease in index. ISE-10 Index showed an increase of 9.60 points as the index moved from 2680.86 to 2690.46 points.
Published 26 Jun, 2007 12:00am
France finds debt easier to cut than deficit

France finds debt easier to cut than deficit

France plans to chip away at its debt by selling more of its corporate stakeholdings but needs hard spending cuts to work the same magic on its budget deficit.
Published 26 Jun, 2007 12:00am
German consumer sentiment continues to rise

German consumer sentiment continues to rise

Consumer sentiment in Germany, the biggest economy in the eurozone, is continuing on its upward trend, buoyed by favourable developments on the labour market and a positive overall economic environment, a new poll showed on Monday.
Published 26 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 Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
RREEF earmarks a third of funds for Asia

RREEF earmarks a third of funds for Asia

RREEF, one of the world's biggest property fund managers, will spend at least 30 percent of its future private equity funds in Asia, with Japan, China and India its favourite markets, an executive said on Monday.
Published 26 Jun, 2007 12:00am
RREEF earmarks a third of funds for Asia

RREEF earmarks a third of funds for Asia

RREEF, one of the world's biggest property fund managers, will spend at least 30 percent of its future private equity funds in Asia, with Japan, China and India its favourite markets, an executive said on Monday.
Published 26 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (June 25, 2007).
Published 26 Jun, 2007 12:00am
Raw cotton's July-May import surges 64 percent

Raw cotton's July-May import surges 64 percent

Country's raw cotton import has surged by 64 percent during July-May 2007 due to low production and huge demand of contamination-free cotton by textile millers, importers said.
Published 26 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
Raw cotton's July-May import surges 64 percent

Raw cotton's July-May import surges 64 percent

Country's raw cotton import has surged by 64 percent during July-May 2007 due to low production and huge demand of contamination-free cotton by textile millers, importers said.
Published 26 Jun, 2007 12:00am
Raw cotton''s July-May import surges 64 percent

Raw cotton''s July-May import surges 64 percent

Country''s raw cotton import has surged by 64 percent during July-May 2007 due to low production and huge demand of contamination-free cotton by textile millers, importers said.
Published 26 Jun, 2007 12:00am
Supreme Court takes suo motu action on price hike

Supreme Court takes suo motu action on price hike

Judge of Supreme Court of Pakistan, Justice Javed Iqbal on Monday took suo motu notice of exorbitant increase in the prices of daily use items in Rawalpindi and Islamabad. He has directed DCO Rawalpindi and Chief Commissioner Islamabad to appear before hi
Published 26 Jun, 2007 12:00am
Supreme Court takes suo motu action on price hike

Supreme Court takes suo motu action on price hike

Judge of Supreme Court of Pakistan, Justice Javed Iqbal on Monday took suo motu notice of exorbitant increase in the prices of daily use items in Rawalpindi and Islamabad. He has directed DCO Rawalpindi and Chief Commissioner Islamabad to appear before hi
Published 26 Jun, 2007 12:00am
Supreme Court takes suo motu action on price hike

Supreme Court takes suo motu action on price hike

Judge of Supreme Court of Pakistan, Justice Javed Iqbal on Monday took suo motu notice of exorbitant increase in the prices of daily use items in Rawalpindi and Islamabad. He has directed DCO Rawalpindi and Chief Commissioner Islamabad to appear before hi
Published 26 Jun, 2007 12:00am
Poppy growing on rise in Afghanistan

Poppy growing on rise in Afghanistan

United Arab Emirates Ambassador Ali Mohammed al Shamsi on Monday urged the United Nations and the international community to provide technical assistance to Pakistan in combating narcotics trafficking in view of the growing poppy cultivation in Afghanista
Published 26 Jun, 2007 12:00am
Cases registered against two signboard companies

Cases registered against two signboard companies

Cases have been registered against two signboard/hoarding companies as the casualties occurred on Saturday due to the falling of these boards. Sindh Home Adviser said that a case had been registered at Defence Police Station against Time Advertisement.
Published 26 Jun, 2007 12:00am
Women entrepreneurs assured of all help

Women entrepreneurs assured of all help

Land and financial supports will be provided to the needy women entrepreneurs in the near future, Minister of Commerce and Tourism, Adil Siddque said here on Saturday. He said this while addressing the "All About Lifestyle 2007," exhibition held at the Ex
Published 26 Jun, 2007 12:00am
UBLFM starts free investment advisory service

UBLFM starts free investment advisory service

United Bank Limited Fund Managers (UBLFM) Limited, a wholly owned subsidiary of UBL, have initiated their new free investment advisory service, which will be operational throughout Pakistan.
Published 26 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
UBLFM starts free investment advisory service

UBLFM starts free investment advisory service

United Bank Limited Fund Managers (UBLFM) Limited, a wholly owned subsidiary of UBL, have initiated their new free investment advisory service, which will be operational throughout Pakistan.
Published 26 Jun, 2007 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (June 25, 2007).
Published 26 Jun, 2007 12:00am
Naval chief leaves for Russia

Naval chief leaves for Russia

Chief of the Naval Staff, Admiral Muhammad Afzal Tahir, departed on an official visit to Russia. He was seen off at Islamabad International Airport by Chief of Staff Vice Admiral Asaf Humayun, Deputy Chief of Mission Russian Embassy Artem Rudnitsky, Capta
Published 26 Jun, 2007 12:00am
Dr Atta calls for investment in education

Dr Atta calls for investment in education

Chairman Higher Education Commission (HEC), Dr Atta-ur-Rehman has stressed the need for investing in education and training for acquiring strength and prosperity.
Published 26 Jun, 2007 12:00am
Workshop for faculty training from today

Workshop for faculty training from today

The University of Health Sciences (UHS) is organising 6th international workshop for faculty training on "Integrated Outcomes Based Teaching and Learning Concepts." The 5-day workshop is scheduled from June 26 to 30. Professor Dr Tim Neild from Flinders U
Published 26 Jun, 2007 12:00am
Punjab University to upgrade its medical facilities

Punjab University to upgrade its medical facilities

Punjab University will upgrade its medical facilities to provide better services to the retired and in-service employees of the University. This was stated by acting vice-chancellor University of the Punjab Professor Dr Arif Butt while visiting PU Health
Published 26 Jun, 2007 12:00am
IBP coaching classes for JA exam from July 2

IBP coaching classes for JA exam from July 2

As per past practices, the Institute of Bankers Pakistan (IBP) will be holding 10-week evening coaching classes in the subjects prescribed for Junior Associateship of IBP (JAIBP) examination from July 2, said a press release.
Published 26 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
Work on new Islamabad airport in full swing

Work on new Islamabad airport in full swing

Work on the new Islamabad international Airport runway has been in full swing and will be completed by the end of current year, says a press release issued by the Civil Aviation Authority.
Published 26 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (June 25, 2007).

Published 26 Jun, 2007 12:00am
Wife of former LHC judge passes away

Wife of former LHC judge passes away

Wife of former Judge Lahore High Court Mian Abdul Khaliq passed away here on Monday. Her funeral procession was attended by judges, senior law officers and bar members.
Published 26 Jun, 2007 12:00am
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