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Archive - 2007-06-27
Five killed in central Iraq clashes

Five killed in central Iraq clashes

At least five people were killed when Shia militiamen ambushed an Iraqi army patrol Tuesday in the central city of Diwaniyah on Tuesday, officials said. Two women were among the dead and another 14 people were wounded, including four teenage girls, accord
Published 27 Jun, 2007 12:00am
Gas blast kills eight miners in Russia

Gas blast kills eight miners in Russia

At least eight miners died on Monday in a methane gas explosion in a coal mine owned by Russian steel maker Severstal in the Arctic town of Vorkuta, the Emergencies Ministry said on Tuesday.
Published 27 Jun, 2007 12:00am
Iran sanctions bill passes first US Congress test

Iran sanctions bill passes first US Congress test

Legislation that aims to force the Bush administration to sanction oil and gas companies doing business with Iran cleared a first hurdle on Tuesday, winning overwhelming approval from a congressional committee. The bill was approved 37 to 1 by the US Hous
Published 27 Jun, 2007 12:00am
Nato chief chides Russia over missile threat

Nato chief chides Russia over missile threat

Russia's threat to aim its missiles at targets in Europe is out of step with the spirit of Nato-Russian partnership, the alliance's chief said on Tuesday after talks with President Vladimir Putin.
Published 27 Jun, 2007 12:00am
Over 1,500 Nepal women train for Gurkha brigade

Over 1,500 Nepal women train for Gurkha brigade

More than 1,500 Nepali women have signed up with private firms to train for a possible career with the British army after it allowed them to join the Brigade of Gurkhas for the first time in nearly two centuries.
Published 27 Jun, 2007 12:00am
Five more die as south-east Europe sizzles

Five more die as south-east Europe sizzles

Four more Romanians have died from a heatwave gripping parts of south-east Europe, health officials said on Tuesday, raising the region's death toll from the past few days to at least 30. All four were elderly people who died of breathing or heart problem
Published 27 Jun, 2007 12:00am
IAEA team arrives in North Korea

IAEA team arrives in North Korea

UN nuclear officials arrived in North Korea on Tuesday to negotiate terms for inspectors to monitor the shutdown of Pyongyang's nuclear reactor, its source of bomb-grade plutonium. Pyongyang has agreed to implement a nuclear disarmament deal struck in Feb
Published 27 Jun, 2007 12:00am
Ershad dethroned by wife as party head

Ershad dethroned by wife as party head

The wife of former Bangladesh military ruler Hossain Mohammad Ershad declared on Tuesday that she had taken control of his Jatiya Party, a day after former loyalists moved to clip the wings of a former premier.
Published 27 Jun, 2007 12:00am
Spain arrests two al Qaeda suspects in Barcelona

Spain arrests two al Qaeda suspects in Barcelona

Spanish police on Tuesday arrested two Moroccans suspected of having links to al Qaeda and recruiting people to send to training camps in Africa. Police said in a statement they had detained Mohamed Laksir, 23, and Moulay Lahoucine Miftah Idrissi, 27, in
Published 27 Jun, 2007 12:00am
Paris Hilton completes jail term

Paris Hilton completes jail term

Smiling and waving for a scrum of cameras, Paris Hilton returned to the celebrity limelight on Tuesday after completing a three-week jail term for drunk-driving violations.
Published 27 Jun, 2007 12:00am
100 evacuated on dam collapse fears

100 evacuated on dam collapse fears

Hundreds of people were evacuated from their homes in northern England on Tuesday as officials warned a dam could collapse following severe flooding that has killed three people. A 68-year-old man and a teenager died in Sheffield and another man, in his 2
Published 27 Jun, 2007 12:00am
Afghanistan's opium battle will take years: government

Afghanistan's opium battle will take years: government

Afghanistan's government said Tuesday there is no silver bullet to halt the country's booming opium production, which is financing the Taliban insurgency. But the country's counter-narcotics minister, speaking at an event to mark the United Nations day ag
Published 27 Jun, 2007 12:00am
Nuclear-powered US ship poses no risk: India

Nuclear-powered US ship poses no risk: India

The Indian military said Tuesday the first port call to India by a nuclear-powered US aircraft carrier posed no risk to the city of Chennai where it will dock in July. Some unions have said the visit by the USS Nimitz poses a possible radiation danger in
Published 27 Jun, 2007 12:00am
Uzbekistan destroys 400kg of heroin

Uzbekistan destroys 400kg of heroin

Uzbek authorities on Tuesday incinerated 424 kilograms of heroin at a factory outside the capital Tashkent in the presence of foreign diplomats and media. "The drugs were confiscated from drug traffickers as a result of anti-drug operations by Uzbek law e
Published 27 Jun, 2007 12:00am
Thaksin defies Thai graftbusters' order to return

Thaksin defies Thai graftbusters' order to return

Ousted Prime Minister Thaksin Shinawatra will not return from exile to the "killing zone" of Thailand despite being ordered back to face charges of hiding assets illegally, his lawyer said on Tuesday.
Published 27 Jun, 2007 12:00am
Henman and Blake win: Aisam reaches second round at Wimbledon

Henman and Blake win: Aisam reaches second round at Wimbledon

Aisam-ul-Haq Qureshi became the first Pakistani player in more than three decades to reach the second round at Wimbledon on Tuesday. Qureshi sneaked past Briton Lee Childs 6-3 6-4 7-6 to follow in the footsteps of Haroon Rahim.
Published 27 Jun, 2007 12:00am
Four Sri Lankan hundreds flatten Bangladesh

Four Sri Lankan hundreds flatten Bangladesh

Four batsmen scored centuries as Sri Lanka flexed their batting might to tighten the screws on Bangladesh in the first cricket Test here on Tuesday. Maiden Test hundreds by Prasanna Jayawardene and veteran seamer Chaminda Vaas capped a solid batting displ
Published 27 Jun, 2007 12:00am
Bayern buying spree continues with Klose signing

Bayern buying spree continues with Klose signing

Bayern Munich signed striker Miroslav Klose from Bundesliga rivals Werder Bremen on Tuesday, taking their close-season spending spree to around 70 million euros ($94.22 million).
Published 27 Jun, 2007 12:00am
Gayle reprimanded for attack on West Indies board

Gayle reprimanded for attack on West Indies board

Chris Gayle has been reprimanded by the West Indies Cricket Board (WICB) for his "totally unacceptable" conduct in criticising the handling of his selection as one-day international captain and the late arrival of players for warm-up games ahead of the up
Published 27 Jun, 2007 12:00am
Mauresmo starts Wimbledon defence with easy win

Mauresmo starts Wimbledon defence with easy win

Amelie Mauresmo got her Wimbledon title defence off to a speedy start with a 6-1 6-3 victory over Jamea Jackson in 63 minutes on Tuesday. Mauresmo had an early scare when Jackson, the world number 158, had a break point in the opening game. However, she s
Published 27 Jun, 2007 12:00am
Former West Germany coach Derwall dies

Former West Germany coach Derwall dies

Former West Germany coach Jupp Derwall has died at the age of 80, the German Football Federation (DFB) said on Tuesday. Born on March 10, 1927, Derwall guided West Germany to victory at the 1980 European Championship in Italy and through to the 1982 World
Published 27 Jun, 2007 12:00am
Hong Kong dollar edges lower

Hong Kong dollar edges lower

The Hong Kong dollar edged lower on Tuesday, undermined by some commercial buying of the US currency in the afternoon session. The domestic currency was trading at 7.8130/31 to the US dollar having touched a session low of 7.8137, weaker than 7.8122/23 in
Published 27 Jun, 2007 12:00am
Asian currencies: high-yielding rupiah, peso under pressure

Asian currencies: high-yielding rupiah, peso under pressure

The high-yielding Indonesian rupiah and Philippine peso took a hit on Tuesday as investors scaled back riskier positions after a slide in US stocks. The rupiah fell as far as 9,070 per dollar, down about 0.5 percent from late Asian trade on Monday and its
Published 27 Jun, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 68.99/69.10 (previous 68.97/69.08). Call Money Rates: 6.50-10.75 percent (previous 6.50-10.75 percent.
Published 27 Jun, 2007 12:00am
Australian dollar dips

Australian dollar dips

The Australian dollar pulled away from fresh 18-year peaks against the US dollar on Tuesday as concerns that troubles in the US subprime mortgage market could spillover saw investors turn risk-averse. The Aussie lost ground against the Japanese yen as car
Published 27 Jun, 2007 12:00am
Dollar slips

Dollar slips

The dollar slipped against the yen on Monday, as US stocks fell, with investors growing nervous about more hedge fund failures related to rising US subprime mortgage defaults. On Wall Street, US stock indexes, which turned negative in late trading after p
Published 27 Jun, 2007 12:00am
Yen rises

Yen rises

The yen jumped on Tuesday, pulling away from a 4-1/2-year low versus the dollar hit last week, after Japan's finance minister warned that markets should be aware of the risks of one-way bets against the Japanese currency.
Published 27 Jun, 2007 12:00am
Yuan closes up

Yuan closes up

China's yuan ended stronger against the dollar on Tuesday after hitting a post-revaluation high, guided by the central bank's firmer mid-point and rebounding after a slight correction late last week.
Published 27 Jun, 2007 12:00am
Swiss franc continues rise

Swiss franc continues rise

The Swiss franc rose against the euro and the dollar on Tuesday as speculation over a more aggressive monetary policy by the Swiss National Bank persisted. Markets' attention will turn to economic data for the next two days, with the UBS consumption indic
Published 27 Jun, 2007 12:00am
Indian shares close flat

Indian shares close flat

Indian share prices closed flat on Tuesday in choppy trade as global markets remained weak ahead of this week's meeting of the US Federal Reserve, dealers said. The 30-share Sensex index rose 13.36 points or 0.09 percent to 14,501.08. Dealers said softwar
Published 27 Jun, 2007 12:00am
Jakarta shares make minor changes

Jakarta shares make minor changes

Indonesian share prices closed little changed on Tuesday, in volatile trade, with investors generally cautious ahead of the US Federal Open Market Committee (FOMC) meeting on Wednesday, dealers said. They said gains in major stocks including Perusahaan Ga
Published 27 Jun, 2007 12:00am
Nikkei average ends mixed

Nikkei average ends mixed

The Nikkei average trod water in slow trade on Tuesday, as Tokyo Electron Ltd and other exporters were hit by a slight rise in the yen, while property firms such as Sumitomo Realty & Development Co Ltd recouped recent losses.
Published 27 Jun, 2007 12:00am
Thai share prices finish slightly firmer

Thai share prices finish slightly firmer

Thai share prices closed 0.37 percent higher on Tuesday in thin trading volumes as investors awaited a decision on interest rates by the US Federal Reserve, dealers said. They said investors shored up the Thai bourse by buying heavy-weight energy stocks,
Published 27 Jun, 2007 12:00am
Singapore shares slip

Singapore shares slip

Singapore share prices closed 1.54 percent lower on Tuesday as players turned cautious a day before the two-day US Federal Open Market Committee meeting, dealers said. The Straits Times Index closed down 55.23 points at the day's low of 3,525.10 on volume
Published 27 Jun, 2007 12:00am
US Treasury debt prices surge

US Treasury debt prices surge

US Treasury debt prices rose on Monday, driven by falling stock markets and investors' concerns that problems in hedge funds with large subprime mortgage holdings could spill into financial markets.
Published 27 Jun, 2007 12:00am
US Treasury debt prices surge

US Treasury debt prices surge

US Treasury debt prices rose on Monday, driven by falling stock markets and investors' concerns that problems in hedge funds with large subprime mortgage holdings could spill into financial markets.
Published 27 Jun, 2007 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian share prices closed 0.74 percent lower on Tuesday due to profit-taking after investor sentiment took a hit from a weak Wall Street performance overnight, dealers said. They said investors also adopted a cautious stance ahead of the start of the
Published 27 Jun, 2007 12:00am
US stocks dip

US stocks dip

US stocks closed lower on Monday as growing concerns about the subprime mortgage market dragged down shares of Bear Stearns Cos. and Goldman Sachs Group. Shares of Bear Stearns Cos., which last week bailed out a hedge fund it manages that is heavily inves
Published 27 Jun, 2007 12:00am
US stocks set to rise further this year

US stocks set to rise further this year

US stocks should notch a fifth straight year of gains in 2007, helped by new optimism about the economy's strength and the prospect for corporate profits, a Reuters poll showed on Tuesday.
Published 27 Jun, 2007 12:00am
Hong Kong blue chips flat

Hong Kong blue chips flat

Hong Kong blue chips ended little changed on Tuesday, as Sun Hung Kai Properties rallied on a broker upgrade, eclipsing losses in CNOOC Ltd and other China plays following their stellar run. Other top losers among Chinese large-caps were coal plays and PI
Published 27 Jun, 2007 12:00am
Chinese shares soar

Chinese shares soar

Chinese shares rebounded from an early plunge on Tuesday to end 0.8 percent higher, suggesting the market might be regaining strength after a two-day slide caused by worries over new share supplies and government policy.
Published 27 Jun, 2007 12:00am
Taiwan stocks off seven-year high on techs

Taiwan stocks off seven-year high on techs

Taiwan shares ended down 0.82 percent from a 7-year high on Tuesday, as a weaker Wall Street prompted investors to take profits in technology firms such as High Tech Computer (HTC). The main TAIEX share index slid 73.44 points to 8,865.75 points. The elec
Published 27 Jun, 2007 12:00am
Tax take-back on the rise in Europe: EU

Tax take-back on the rise in Europe: EU

The taxman's take in Europe began creeping back up in 2005, halting a gradual decline in rates in the world's most highly taxed region, according to an official EU report published Tuesday.
Published 27 Jun, 2007 12:00am
News Corp, Dow board in editorial pact

News Corp, Dow board in editorial pact

Rupert Murdoch's News Corp and Dow Jones & Co Inc have "basically agreed" on a structure to protect the editorial independence of Dow's news operations, including the Wall Street Journal, a source familiar with the matter said on Tuesday.
Published 27 Jun, 2007 12:00am
Nigeria opens case against Pfizer

Nigeria opens case against Pfizer

A seven billion dollar (5.2 billion euro) lawsuit pitting the Nigerian government against the world's biggest pharmaceutical company Pfizer opened Tuesday with the US giant demanding the court dismiss the charges. The government is seeking the damages fol
Published 27 Jun, 2007 12:00am
US launches corruption probe into Britain's BAE

US launches corruption probe into Britain's BAE

The US justice department has launched a corruption probe into Britain's BAE Systems Plc, a potential headache for Gordon Brown just hours before he succeeds Tony Blair as British Prime Minister.
Published 27 Jun, 2007 12:00am
Iran oil exports at risk in UK ship sanctions plan

Iran oil exports at risk in UK ship sanctions plan

A British proposal to target Iran's national shipping lines under a draft UN sanctions resolution could temporarily curb Tehran's ability to export oil to world markets, maritime sources said on Tuesday.
Published 27 Jun, 2007 12:00am
Oil industry faces reliability problem, not supply

Oil industry faces reliability problem, not supply

The problem oil firms face in satisfying world demand is not a lack of supplies, but their ability to unlock new production and distribute it to consumers reliably, an oil industry conference heard on Tuesday.
Published 27 Jun, 2007 12:00am
Ryanair boss slams EU Aer Lingus veto as political

Ryanair boss slams EU Aer Lingus veto as political

Ryanair Chief Executive Michael O'Leary on Tuesday attacked EU plans to veto its hostile bid to take over Irish rival Aer Lingus, calling the move politically motivated to appease Dublin.
Published 27 Jun, 2007 12:00am
Bangladesh gets power plants loan

Bangladesh gets power plants loan

Bangladesh will get a $465 million loan from the Asian Development Bank (ADB) to finance two new power plants to ease chronic electricity shortages that have sparked violent protests and hurt the country's economy. "The ADB approved on Tuesday the loan pr
Published 27 Jun, 2007 12:00am
World economy building up inflationary pressures: IMF

World economy building up inflationary pressures: IMF

The world economy is powering ahead at a faster pace than expected two months ago, building up global inflationary pressures, the chief economist of the International Monetary Fund said on Tuesday.
Published 27 Jun, 2007 12:00am
Turkey sour over EU refusal to open monetary talks

Turkey sour over EU refusal to open monetary talks

Turkey criticised the European Union on Tuesday for refusing to extend membership talks to the politically sensitive area of economic and monetary policy, but said it hoped for progress soon.
Published 27 Jun, 2007 12:00am
US new home sales ease, confidence falls

US new home sales ease, confidence falls

US new home sales in May fell more than expected while consumer confidence in June fell to a 10-month low amid anxiousness about jobs and the business climate, adding to signs of sluggish economic growth this year.
Published 27 Jun, 2007 12:00am
Venezuela confirms Conoco project take-over

Venezuela confirms Conoco project take-over

Venezuela said on Tuesday it has taken full ownership of ConocoPhillips' Petrozuata project as part of President Hugo Chavez's campaign to nationalise the heavy crude projects of the Orinoco Belt.
Published 27 Jun, 2007 12:00am
Visa hires president pre-IPO

Visa hires president pre-IPO

Visa, the world's largest credit card network, on Tuesday said it hired Hans Morris from Citigroup Inc to fill the new position of president of Visa Inc, which is planning to go public by early next year.
Published 27 Jun, 2007 12:00am
Visa hires president pre-IPO

Visa hires president pre-IPO

Visa, the world's largest credit card network, on Tuesday said it hired Hans Morris from Citigroup Inc to fill the new position of president of Visa Inc, which is planning to go public by early next year.
Published 27 Jun, 2007 12:00am
JGBs inch up

JGBs inch up

Japanese government bonds edged up on Tuesday, taking their cue from a rise in US Treasuries the previous day, but prices remained capped ahead of Japanese data due later in the week. The market showed a limited reaction to an auction of two-year notes, w
Published 27 Jun, 2007 12:00am
JGBs inch up

JGBs inch up

Japanese government bonds edged up on Tuesday, taking their cue from a rise in US Treasuries the previous day, but prices remained capped ahead of Japanese data due later in the week. The market showed a limited reaction to an auction of two-year notes, w
Published 27 Jun, 2007 12:00am
Malaysia court dismisses high-profile graft case

Malaysia court dismisses high-profile graft case

A Malaysian court dismissed corruption charges against a prominent businessman on Tuesday, setting free one of the few high-profile figures to have been netted in a 3-1/2-year anti-graft campaign.
Published 27 Jun, 2007 12:00am
EU regulators resume Sony-BMG antitrust probe

EU regulators resume Sony-BMG antitrust probe

EU regulators have resumed their antitrust probe into the merger that created music giant Sony BMG after companies delivered crucial information, the European Commission said Tuesday.
Published 27 Jun, 2007 12:00am
Google seeks tougher antitrust oversight on Microsoft

Google seeks tougher antitrust oversight on Microsoft

Google, dissatisfied with changes Microsoft is making to its new desktop search feature in response to an antitrust complaint, is pushing for further changes and more judicial oversight of Microsoft's practices.
Published 27 Jun, 2007 12:00am
Malaysian palm oil futures dirft lower

Malaysian palm oil futures dirft lower

Malaysian crude palm oil futures fell 1 percent on Tuesday as expectations of a build-up in stocks due to weakening demand and an uptick in imports from Indonesia pulled down the market. Palm oil prices were also pressured by losses in Chicago Board of Tr
Published 27 Jun, 2007 12:00am
Tokyo rubber weighed down

Tokyo rubber weighed down

Tokyo rubber faltered on Tuesday as bearish technicals and weakness in other yen-based commodities prompted investment funds to lock in positions on rallies. Trading was nervous amid uncertainty over the outlook of physical supplies from the world's top s
Published 27 Jun, 2007 12:00am
Malaysian tin climbs

Malaysian tin climbs

Malaysian tin rose 1 percent on Tuesday, buoyed by higher prices on the London Metal Exchange and foreign buying, one dealer said.
Published 27 Jun, 2007 12:00am
Soyabeans end firm

Soyabeans end firm

Soybean futures at the Chicago Board of Trade ended firm Monday on a short-covering bounce after Friday's sharp sell-off, traders said. The market was underpinned by expectations for US soybean acres and stocks to shrink in the years ahead as more US farm
Published 27 Jun, 2007 12:00am
Dozens missing: 18 killed as cyclone lashes coastal areas

Dozens missing: 18 killed as cyclone lashes coastal areas

A powerful cyclone lashed Pakistan's southern coast on Tuesday, killing at least 18 people, leaving dozens more missing and forcing tens of thousands to flee their homes, officials said. Cyclone Yemyin packed winds of up to 130 kilometres an hour as it ma
Published 27 Jun, 2007 12:00am
New York sugar closes low

New York sugar closes low

Raw sugar futures ended lower Monday as investors exited positions in the spot contract which is set to expire at the end of the week, brokers said. New York Board of Trade's key October sugar contract slid 0.25 cent or by 2.5 percent to finish the open-o
Published 27 Jun, 2007 12:00am
Dozens missing: 18 killed as cyclone lashes coastal areas

Dozens missing: 18 killed as cyclone lashes coastal areas

A powerful cyclone lashed Pakistan's southern coast on Tuesday, killing at least 18 people, leaving dozens more missing and forcing tens of thousands to flee their homes, officials said. Cyclone Yemyin packed winds of up to 130 kilometres an hour as it ma
Published 27 Jun, 2007 12:00am
CBOT rice lower

CBOT rice lower

Chicago Board of Trade rough rice futures closed lower Monday on follow-through speculative selling, with spreading featured as firms rolled their July positions, traders said. July rice ended 4 cents lower at $10.60 per hundredweight. September closed 5
Published 27 Jun, 2007 12:00am
Over 10,000 homeless in Turbat

Over 10,000 homeless in Turbat

Floodwater entered into Turbat and adjoining areas on late Tuesday, forcing families to migrate towards safer places, a private TV channel reported.
Published 27 Jun, 2007 12:00am
Resilient LME calms jittery Shanghai copper

Resilient LME calms jittery Shanghai copper

Shanghai copper eased on Tuesday, dented by declining Chinese equities, but London futures' resilience in the face of selling pressure helped preserve fragile sentiment. The most-active September copper contract on the Shanghai Futures Exchange was down 4
Published 27 Jun, 2007 12:00am
Over 10,000 homeless in Turbat

Over 10,000 homeless in Turbat

Floodwater entered into Turbat and adjoining areas on late Tuesday, forcing families to migrate towards safer places, a private TV channel reported.
Published 27 Jun, 2007 12:00am
Oil dips on expected US stockbuild

Oil dips on expected US stockbuild

Oil prices eased on Tuesday amid expectations of swelling US inventories and hopes that Nigerian exports could rise, although fears that US refinery outages could keep stocks thin limited losses. London Brent crude, currently seen as the best benchmark fo
Published 27 Jun, 2007 12:00am
Cabinet may approve draft competition bill today

Cabinet may approve draft competition bill today

The federal cabinet is likely to approve on Wednesday (today) the much -awaited 'competition policy and law in Pakistan and draft Competition Bill 2007, before it is introduced in the Parliament, official sources told Business Recorder.
Published 27 Jun, 2007 12:00am
Indonesian palm oil prices ease

Indonesian palm oil prices ease

Indonesian palm oil prices eased on Tuesday, hit by sharp losses by Malaysian crude palm futures and increasing supplies of domestic crude palm oil. There was no auction in the state marketing centre in Jakarta which sells palm oil from state plantations.
Published 27 Jun, 2007 12:00am
Cabinet may approve draft competition bill today

Cabinet may approve draft competition bill today

The federal cabinet is likely to approve on Wednesday (today) the much -awaited 'competition policy and law in Pakistan and draft Competition Bill 2007, before it is introduced in the Parliament, official sources told Business Recorder.
Published 27 Jun, 2007 12:00am
Gold bounces ahead of US data

Gold bounces ahead of US data

Gold rebounded on Tuesday but trading was cautious ahead of the release of a series of US data later this week. Tokyo futures tracked declines in New York's COMEX market.
Published 27 Jun, 2007 12:00am
Cabinet may approve draft competition bill today

Cabinet may approve draft competition bill today

The federal cabinet is likely to approve on Wednesday (today) the much -awaited ''competition policy and law in Pakistan and draft Competition Bill 2007, before it is introduced in the Parliament, official sources told Business Recorder.
Published 27 Jun, 2007 12:00am
Palladium rose to $369/373 an ounce

Palladium rose to $369/373 an ounce

Gold was steady on Tuesday as the resilience of the dollar versus the euro reduced investor appetite for the metal, while a rise in the yen dragged down yen-based gold futures in Tokyo.
Published 27 Jun, 2007 12:00am
Gwadar Port Authority's revised bill expected to be approved

Gwadar Port Authority's revised bill expected to be approved

The federal cabinet, which is scheduled to meet on Wednesday (today) with Prime Minister Shaukat Aziz in the chair, is likely to approve Gwadar Port Authority's revised bill regarding new corporate structure of the port, official sources told Business
Published 27 Jun, 2007 12:00am
US gold lower

US gold lower

US gold futures finished lower on Monday on bearish sentiment, but off session lows as crude oil prices recovered and trade was quiet ahead of a slew of economic indicators later this week, traders said. "As far as the metals are concerned, it's really la
Published 27 Jun, 2007 12:00am
Gwadar Port Authority's revised bill expected to be approved

Gwadar Port Authority's revised bill expected to be approved

The federal cabinet, which is scheduled to meet on Wednesday (today) with Prime Minister Shaukat Aziz in the chair, is likely to approve Gwadar Port Authority's revised bill regarding new corporate structure of the port, official sources told Business
Published 27 Jun, 2007 12:00am
US copper rebounds to end firm

US copper rebounds to end firm

US copper futures erased earlier losses to close slightly higher on Monday, buoyed by short-covering and new buying interest after sharp morning declines failed to push prices through any significant technical levels, analysts said.
Published 27 Jun, 2007 12:00am
Gwadar Port Authority''s revised bill expected to be approved

Gwadar Port Authority''s revised bill expected to be approved

The federal cabinet, which is scheduled to meet on Wednesday (today) with Prime Minister Shaukat Aziz in the chair, is likely to approve Gwadar Port Authority''s revised bill regarding new corporate structure of the port, official sources told Business
Published 27 Jun, 2007 12:00am
MGE spring wheat settles mixed

MGE spring wheat settles mixed

Spring wheat futures on the Minneapolis Grain Exchange closed mixed on Monday in volatile, spread-dominated trade, brokers said. July spring wheat settled unchanged at $6.00 per bushel after spiking early to $6.15, within 1 cent of the 11-year high set la
Published 27 Jun, 2007 12:00am
Fire in Parliament House destroys PAC record

Fire in Parliament House destroys PAC record

A mild fire that broke out inside the parliament building on Tuesday evening damaged few offices and reportedly burnt some important secretariat record, officials said. The fire destroyed part of the building's fourth flour where the offices of the Nation
Published 27 Jun, 2007 12:00am
US arabica coffee falls to five-week low

US arabica coffee falls to five-week low

US arabica coffee slid to close down 3.7 percent at a five-week low Monday after long liquidation triggered sell-stop orders, traders said.
Published 27 Jun, 2007 12:00am
Fire in Parliament House destroys PAC record

Fire in Parliament House destroys PAC record

A mild fire that broke out inside the parliament building on Tuesday evening damaged few offices and reportedly burnt some important secretariat record, officials said. The fire destroyed part of the building's fourth flour where the offices of the Nation
Published 27 Jun, 2007 12:00am
New York cocoa lower

New York cocoa lower

US cocoa futures settled a shade lower on Monday, after touching a one-month high, on pressure from weak sterling and profit-taking during a quiet session, traders said. "In the short term, you did get a little bit of profit-taking on the upside," one tra
Published 27 Jun, 2007 12:00am
Provincial Assembly passes NWFP budget for fiscal 2007-08

Provincial Assembly passes NWFP budget for fiscal 2007-08

The NWFP Assembly on Tuesday passed the provincial budget for 2007-08 after the joint opposition withdrew all of their cuts motions on the remaining 47 demands for grants for various departments of the province.
Published 27 Jun, 2007 12:00am
Australian wool down 2.9 percent

Australian wool down 2.9 percent

The Australian wool market finished 2.9 percent lower, on average, at sales in Sydney and Melbourne this week. The AWEX EMI fell by 29c (-2.9 percent), ending the week at 956c/kg clean.
Published 27 Jun, 2007 12:00am
Provincial Assembly passes NWFP budget for fiscal 2007-08

Provincial Assembly passes NWFP budget for fiscal 2007-08

The NWFP Assembly on Tuesday passed the provincial budget for 2007-08 after the joint opposition withdrew all of their cuts motions on the remaining 47 demands for grants for various departments of the province.
Published 27 Jun, 2007 12:00am
Rouen grain exports at 211,231 tonnes

Rouen grain exports at 211,231 tonnes

Grain exports from the French port of Rouen between June 1 and 20 totalled 211,231 tonnes, of which 171,582 tonnes of soft wheat and 39,649 tonnes of barley, officials said on Tuesday. That compares with 364,961 tonnes between June 1 and 21 last year when
Published 27 Jun, 2007 12:00am
Musharraf asks tribesmen to banish foreigners

Musharraf asks tribesmen to banish foreigners

President General Pervez Musharraf has called upon the tribesmen to convert difficulties into opportunity by fully co-operating with the government to banish foreign elements from their soil and bring about development in their areas.
Published 27 Jun, 2007 12:00am
Crude oil futures

Crude oil futures

Crude oil futures on the Tokyo Commodity Exchange (TOCOM) were little changed on Tuesday, taking cues from overseas crude futures. Benchmark November crude ended up 30 yen, up 0.1 percent. January gasoline debuted at 66,400 yen per kilolitre, before closi
Published 27 Jun, 2007 12:00am
Musharraf asks tribesmen to banish foreigners

Musharraf asks tribesmen to banish foreigners

President General Pervez Musharraf has called upon the tribesmen to convert difficulties into opportunity by fully co-operating with the government to banish foreign elements from their soil and bring about development in their areas.
Published 27 Jun, 2007 12:00am
NYBoT cotton stocks fall

NYBoT cotton stocks fall

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of June 22 totaled 702,064 (480-lb) bales, from 711,605 bales the previous session. There were 2,339 bales issued, 9,959 bales were awaiting r
Published 27 Jun, 2007 12:00am
Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Both Bestway and Abu Dhabi group have increased their shareholding to 29.5 percent in UBL by acquiring GDR's worth 200 million dollars, it is reliably learnt. Both groups have jointly acquired 51 percent stake at the time of privatisation - evenly split a
Published 27 Jun, 2007 12:00am
Asian naphtha rises on higher crude prices

Asian naphtha rises on higher crude prices

Asian naphtha prices rose on Tuesday on higher crude, but the premium against Brent edged down as demand has yet to reappear in the region's sufficiently supplied market. The front-month open-spec naphtha contract for first-half August moved up to $672.50
Published 27 Jun, 2007 12:00am
Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Both Bestway and Abu Dhabi group have increased their shareholding to 29.5 percent in UBL by acquiring GDR's worth 200 million dollars, it is reliably learnt. Both groups have jointly acquired 51 percent stake at the time of privatisation - evenly split a
Published 27 Jun, 2007 12:00am
Indonesia 2008 sugar deficit seen at 966,000 tonnes

Indonesia 2008 sugar deficit seen at 966,000 tonnes

Indonesia's sugar production next year is likely to be 966,000 tonnes short of expected consumption, a gap that will be covered by imports, data from a state-owned sugar firm showed on Tuesday.
Published 27 Jun, 2007 12:00am
Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Bestway and Abu Dhabi group acquire UBL GDR worth $200 million

Both Bestway and Abu Dhabi group have increased their shareholding to 29.5 percent in UBL by acquiring GDR''s worth 200 million dollars, it is reliably learnt. Both groups have jointly acquired 51 percent stake at the time of privatisation - evenly split
Published 27 Jun, 2007 12:00am
Raw rubber higher on Jodia Bazaar

Raw rubber higher on Jodia Bazaar

The trading on raw rubber moved up on Jodia Bazaar here on Tuesday. The following variations were noted.
Published 27 Jun, 2007 12:00am
Measures being taken to ensure health care to all: Prime Minister

Measures being taken to ensure health care to all: Prime Minister

Prime Minister Shaukat Aziz said on Tuesday that the government has been making sincere efforts, and taking various steps, to ensure basic health care to everyone at their doorsteps. He was addressing the launching ceremony of 'Health Indicators of Pakist
Published 27 Jun, 2007 12:00am
CBoT wheat futures mixed

CBoT wheat futures mixed

Soft red winter wheat futures at the Chicago Board of Trade closed mixed on Monday following a choppy session as the market tried to consolidate after last week's volatility, traders said. CBoT July wheat ended down 2-3/4 cents at $5.89-1/2 per bushel. De
Published 27 Jun, 2007 12:00am
Rs 200 million relief package for rain victims

Rs 200 million relief package for rain victims

Prime Minister Shaukat Aziz on Tuesday sanctioned Rs 200 million as immediate relief for the rain and windstorm victims of Sindh province. The package includes Rs 100,000 as death compensation for the legal heirs of each of the victims.
Published 27 Jun, 2007 12:00am
CBot corn down

CBot corn down

Corn futures at the Chicago Board of Trade fell over 2 percent on Monday on an improvement in crop weather in the US Midwest and on talk USDA may show a surprisingly large number for corn in its June plantings report on Friday, traders said.
Published 27 Jun, 2007 12:00am
Rs 200 million relief package for rain victims

Rs 200 million relief package for rain victims

Prime Minister Shaukat Aziz on Tuesday sanctioned Rs 200 million as immediate relief for the rain and windstorm victims of Sindh province. The package includes Rs 100,000 as death compensation for the legal heirs of each of the victims.
Published 27 Jun, 2007 12:00am
WCE canola up

WCE canola up

Winnipeg Commodity Exchange canola futures were buoyed by US soyabean and soyaoil futures on Monday in a quiet session ahead of a key Statistics Canada report, traders said. Canola ended 50 cents to $5.70 per tonne higher, with July up $3 at $372 and Nove
Published 27 Jun, 2007 12:00am
MCA investigating packaged milk price hike

MCA investigating packaged milk price hike

The Monopoly Control Authority (MCA) has initiated inquiry into the pre-budget price hike in packaged milk products. Sources told Business Recorder on Tuesday that the MCA has fixed hearing of packaged milk companies on July 2 and 3 to ascertain th
Published 27 Jun, 2007 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

The average price of Bangladesh teas fell nominally to 85.67 taka ($1.24) per kg at the weekly auction on Tuesday, brokers said. "More than 1.26 million kg were sold at an average price of 85.67 taka per kg, down 0.17 taka from the previous sale. The with
Published 27 Jun, 2007 12:00am
Lacklustre business on cotton market

Lacklustre business on cotton market

No transaction was witnessed on cotton market on Tuesday as almost all participants remained on the sidelines due to lack of interest, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600, they added.
Published 27 Jun, 2007 12:00am
US Midwest soyabean falls

US Midwest soyabean falls

Spot basis bids for soyabeans fell at river locations around the US Midwest on Monday but held steady around the interior, grain dealers said. Cash bids for both corn and wheat were mostly unchanged at interior and river locations.
Published 27 Jun, 2007 12:00am
US Plains HRW wheat mostly steady

US Plains HRW wheat mostly steady

US Plains hard red winter wheat basis bids were mostly steady Tuesday as the market absorbed sporadic intake of new-crop wheat through the Plains, wheat merchants said. Light yields, poor quality and rain delays kept activity slow in some central Kansas l
Published 27 Jun, 2007 12:00am
Hardly any trade activity across Karachi

Hardly any trade activity across Karachi

Heavy rains, followed by electricity breakdown on Tuesday brought trade activities to almost a total halt, as over 90 percent markets remained closed, said traders. They said that the three-day incessant rain paralysed business and trade activities in all
Published 27 Jun, 2007 12:00am
Grain market rates not available

Grain market rates not available

The Karachi Grain and Oilseed Merchants Group did not issue rates on Tuesday due to continued rains in the city.
Published 27 Jun, 2007 12:00am
Hardly any trade activity across Karachi

Hardly any trade activity across Karachi

Heavy rains, followed by electricity breakdown on Tuesday brought trade activities to almost a total halt, as over 90 percent markets remained closed, said traders. They said that the three-day incessant rain paralysed business and trade activities in all
Published 27 Jun, 2007 12:00am
Gulf corn rises on export demand

Gulf corn rises on export demand

US FOB Gulf corn basis offers rose on Monday amid solid export demand last week and falling futures prices, traders said. Soyabean basis offers held steady in a market seeing little export demand due to cheaper prices in South America. US soyabeans for ea
Published 27 Jun, 2007 12:00am
Hardly any trade activity across Karachi

Hardly any trade activity across Karachi

Heavy rains, followed by electricity breakdown on Tuesday brought trade activities to almost a total halt, as over 90 percent markets remained closed, said traders. They said that the three-day incessant rain paralysed business and trade activities in all
Published 27 Jun, 2007 12:00am
Russia may cease to be top raw sugar buyer

Russia may cease to be top raw sugar buyer

Russia may relinquish in 2008 its position as the world's top raw sugar importer due to current oversupply, more domestic beet refining and white sugar imports from neighbouring countries, a leading analyst said on Tuesday.
Published 27 Jun, 2007 12:00am
Ivorian cocoa prices up

Ivorian cocoa prices up

Strong competition for beans kept farmgate prices well above the recommended 400 CFA per ($0.82) kg guideline price in Ivory Coast's main cocoa zones from June 18-24, Coffee and Cocoa Bourse (BCC) data showed on Tuesday.
Published 27 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 58,961 tonnes cargo including 48,181 tonnes import, 10,780 tonnes export cargo and 1,408 containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday.
Published 27 Jun, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices firmed up on Tuesday on worries that demand will exceed supply, as its differential to fuel oil cargoes remained in discount for the fifth-straight day.
Published 27 Jun, 2007 12:00am
Profit-taking trims early gains on KSE

Profit-taking trims early gains on KSE

The Karachi share market witnessed a bullish session on Tuesday and KSE-100 index ended at a new high level of 13,571.14 points with a gain of 30.69 points on the back of fresh buying by foreign investors and local institutional support.
Published 27 Jun, 2007 12:00am
EU rapeseed crop up

EU rapeseed crop up

The European Union is likely to harvest 18.32 million tonnes of rapeseed in summer 2007 (2007/2008 season), up from 16.05 million tonnes last year despite unfavourable weather in some countries, Hamburg-based oilseeds analysts Oil World said.
Published 27 Jun, 2007 12:00am
Profit-taking trims early gains on KSE

Profit-taking trims early gains on KSE

The Karachi share market witnessed a bullish session on Tuesday and KSE-100 index ended at a new high level of 13,571.14 points with a gain of 30.69 points on the back of fresh buying by foreign investors and local institutional support.
Published 27 Jun, 2007 12:00am
Profit-taking trims early gains on KSE

Profit-taking trims early gains on KSE

The Karachi share market witnessed a bullish session on Tuesday and KSE-100 index ended at a new high level of 13,571.14 points with a gain of 30.69 points on the back of fresh buying by foreign investors and local institutional support.
Published 27 Jun, 2007 12:00am
BRIndex30 gains 30.4 points

BRIndex30 gains 30.4 points

On Tuesday BRIndex30 opened in the green zone at 15,197.75 and remained there for whole of the trading time, with an upward gap of 51.88 points. It closed at 15,176.27 with a net positive change of 30.4 points and percentage change of 0.20. It showed intr
Published 27 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 27 Jun, 2007 12:00am
BRIndex30 gains 30.4 points

BRIndex30 gains 30.4 points

On Tuesday BRIndex30 opened in the green zone at 15,197.75 and remained there for whole of the trading time, with an upward gap of 51.88 points. It closed at 15,176.27 with a net positive change of 30.4 points and percentage change of 0.20. It showed intr
Published 27 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 27 Jun, 2007 12:00am
LSE rangebound

LSE rangebound

Mixed trend prevailed on the Lahore Stock Exchange (LSE) on Tuesday where equities moved in a narrow range but the cement sector significantly contributed to market close in green zone.
Published 27 Jun, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
LSE rangebound

LSE rangebound

Mixed trend prevailed on the Lahore Stock Exchange (LSE) on Tuesday where equities moved in a narrow range but the cement sector significantly contributed to market close in green zone.
Published 27 Jun, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Bulls strengthen positions on ISE

Bulls strengthen positions on ISE

Bulls strengthened their positions on Tuesday at the Islamabad Stock Exchange where equities showed healthy signs under the lead of hot favourite amid increase in index. ISE Ten Index was plus by 4.22 points as the index moved from 2690.46 to 2,694.68 poi
Published 27 Jun, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Bulls strengthen positions on ISE

Bulls strengthen positions on ISE

Bulls strengthened their positions on Tuesday at the Islamabad Stock Exchange where equities showed healthy signs under the lead of hot favourite amid increase in index. ISE Ten Index was plus by 4.22 points as the index moved from 2690.46 to 2,694.68 poi
Published 27 Jun, 2007 12:00am
South Africa unions lose support for strike

South Africa unions lose support for strike

Signs of a further erosion of support for a three-week public sector strike over pay in South Africa emerged on Tuesday, one day before labour and government were due to resume talks aimed at ending the costly dispute.
Published 27 Jun, 2007 12:00am
Anti-terrorism talks with India from July 3

Anti-terrorism talks with India from July 3

The secretaries level talks between Pakistan and India on counter terrorism and drug trafficking would be held on July 3 in Delhi. Interior Secretary Syed Kamal Shah would lead the Pakistani delegation during the two-day talks while the Union Home Secreta
Published 27 Jun, 2007 12:00am
Anti-terrorism talks with India from July 3

Anti-terrorism talks with India from July 3

The secretaries level talks between Pakistan and India on counter terrorism and drug trafficking would be held on July 3 in Delhi. Interior Secretary Syed Kamal Shah would lead the Pakistani delegation during the two-day talks while the Union Home Secreta
Published 27 Jun, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
China says hostages in Pakistan had legal business

China says hostages in Pakistan had legal business

Seven Chinese hostages abducted and later freed in Islamabad were running a legal business, the government said on Tuesday, while refusing to comment on allegations they were involved in prostitution. "The seven Chinese citizens had legal licences in Paki
Published 27 Jun, 2007 12:00am
China says hostages in Pakistan had legal business

China says hostages in Pakistan had legal business

Seven Chinese hostages abducted and later freed in Islamabad were running a legal business, the government said on Tuesday, while refusing to comment on allegations they were involved in prostitution. "The seven Chinese citizens had legal licences in Paki
Published 27 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (June 26, 2007).
Published 27 Jun, 2007 12:00am
SingTel likely to buy stake in Warid: Financial Times

SingTel likely to buy stake in Warid: Financial Times

Singapore Telecommunications is likely to buy a 30 percent stake in Warid Telecom in a deal that would value Pakistan's third-largest mobile phone operator at $1 billion, the Financial Times reported on Tuesday.
Published 27 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
SingTel likely to buy stake in Warid: Financial Times

SingTel likely to buy stake in Warid: Financial Times

Singapore Telecommunications is likely to buy a 30 percent stake in Warid Telecom in a deal that would value Pakistan's third-largest mobile phone operator at $1 billion, the Financial Times reported on Tuesday.
Published 27 Jun, 2007 12:00am
SingTel likely to buy stake in Warid: Financial Times

SingTel likely to buy stake in Warid: Financial Times

Singapore Telecommunications is likely to buy a 30 percent stake in Warid Telecom in a deal that would value Pakistan''s third-largest mobile phone operator at $1 billion, the Financial Times reported on Tuesday.
Published 27 Jun, 2007 12:00am
Auto imports decline marginally

Auto imports decline marginally

The import of motor vehicles declined marginally by 0.88 percent in May amounting to $114.832 million, which took total July-May 2006-07 imports to $1.275 billion. In April, imports amounted to $115.855 million.
Published 27 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Portfolio investment at its new high

Portfolio investment at its new high

The surge in total portfolio investment indicates foreign investors' continuous interest in the local equity market, as the net inflow reached at its highest ever level of 982.381 million dollars on June 25.
Published 27 Jun, 2007 12:00am
Portfolio investment at its new high

Portfolio investment at its new high

The surge in total portfolio investment indicates foreign investors' continuous interest in the local equity market, as the net inflow reached at its highest ever level of 982.381 million dollars on June 25.
Published 27 Jun, 2007 12:00am
Portfolio investment at its new high

Portfolio investment at its new high

The surge in total portfolio investment indicates foreign investors'' continuous interest in the local equity market, as the net inflow reached at its highest ever level of 982.381 million dollars on June 25.
Published 27 Jun, 2007 12:00am
1100 megawatts Kohala hydel project feasibility pact signed

1100 megawatts Kohala hydel project feasibility pact signed

Wapda signed an agreement with a joint venture Messrs Kohala Hydropower Consultants for preparation of feasibility report, detailed engineering design and tender documents of 1100 MW Kohala Hydropower project here at Wapda House on Tuesday.
Published 27 Jun, 2007 12:00am
1100 megawatts Kohala hydel project feasibility pact signed

1100 megawatts Kohala hydel project feasibility pact signed

Wapda signed an agreement with a joint venture Messrs Kohala Hydropower Consultants for preparation of feasibility report, detailed engineering design and tender documents of 1100 MW Kohala Hydropower project here at Wapda House on Tuesday.
Published 27 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
1100 megawatts Kohala hydel project feasibility pact signed

1100 megawatts Kohala hydel project feasibility pact signed

Wapda signed an agreement with a joint venture Messrs Kohala Hydropower Consultants for preparation of feasibility report, detailed engineering design and tender documents of 1100 MW Kohala Hydropower project here at Wapda House on Tuesday.
Published 27 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Pakistan's Basmati exports: India captures 92 percent EU market

Pakistan's Basmati exports: India captures 92 percent EU market

Pakistan is fast loosing its European Union (EU) market for basmati rice and according to figures available here on Tuesday, India has captured 92 percent of the European market for this commodity, leaving Pakistan far behind in rice exports to EU countri
Published 27 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Indus tributaries remain in high flood

Indus tributaries remain in high flood

Indus tributaries in NWFP are in very high flood while all major rivers in the country are flowing below low flood level. According to Flood Forecast Division report, Indus tributaries ie Kabul river at Adezai and Shah Alam river at Tukhtbad are in high f
Published 27 Jun, 2007 12:00am
PPIB asked to expedite processing of projects

PPIB asked to expedite processing of projects

Prime Minister Shaukat Aziz Tuesday said the government is taking short, medium and long term steps, to bridge the gap between demand and supply of electricity for maintaining the momentum of growth.
Published 27 Jun, 2007 12:00am
PPIB asked to expedite processing of projects

PPIB asked to expedite processing of projects

Prime Minister Shaukat Aziz Tuesday said the government is taking short, medium and long term steps, to bridge the gap between demand and supply of electricity for maintaining the momentum of growth.
Published 27 Jun, 2007 12:00am
PPIB asked to expedite processing of projects

PPIB asked to expedite processing of projects

Prime Minister Shaukat Aziz Tuesday said the government is taking short, medium and long term steps, to bridge the gap between demand and supply of electricity for maintaining the momentum of growth.
Published 27 Jun, 2007 12:00am
Smuggling of lubricants, grease: illegal business thriving

Smuggling of lubricants, grease: illegal business thriving

Illegal business of lubricants and grease is thriving as their share reaches 35 percent of local consumption. Sources said by the end of the last fiscal year smuggled lubricants/ grease share was estimated at 25 percent of total local consumption. Roughly
Published 27 Jun, 2007 12:00am
Smuggling of lubricants, grease: illegal business thriving

Smuggling of lubricants, grease: illegal business thriving

Illegal business of lubricants and grease is thriving as their share reaches 35 percent of local consumption. Sources said by the end of the last fiscal year smuggled lubricants/ grease share was estimated at 25 percent of total local consumption. Roughly
Published 27 Jun, 2007 12:00am
Smuggling of lubricants, grease: illegal business thriving

Smuggling of lubricants, grease: illegal business thriving

Illegal business of lubricants and grease is thriving as their share reaches 35 percent of local consumption. Sources said by the end of the last fiscal year smuggled lubricants/ grease share was estimated at 25 percent of total local consumption. Roughly
Published 27 Jun, 2007 12:00am
Music shops blown up

Music shops blown up

Suspected militants on Tuesday blew up several music shops in North West Frontier Province bordering Afghanistan, police said. At least three shops were destroyed when a bomb went off before dawn in Shabqadar town, about 20 kilometres (12 miles) north-eas
Published 27 Jun, 2007 12:00am
Music shops blown up

Music shops blown up

Suspected militants on Tuesday blew up several music shops in North West Frontier Province bordering Afghanistan, police said. At least three shops were destroyed when a bomb went off before dawn in Shabqadar town, about 20 kilometres (12 miles) north-eas
Published 27 Jun, 2007 12:00am
China to cut import taxes on Pakistani goods

China to cut import taxes on Pakistani goods

China will lower import taxes on 3,975 categories of goods from Pakistan, by 11 percent to an average tax rate of 8 percent, effective on July 1, its Finance Ministry said on Tuesday, in an attempt to promote mutual trade.
Published 27 Jun, 2007 12:00am
China to cut import taxes on Pakistani goods

China to cut import taxes on Pakistani goods

China will lower import taxes on 3,975 categories of goods from Pakistan, by 11 percent to an average tax rate of 8 percent, effective on July 1, its Finance Ministry said on Tuesday, in an attempt to promote mutual trade.
Published 27 Jun, 2007 12:00am
China to cut import taxes on Pakistani goods

China to cut import taxes on Pakistani goods

China will lower import taxes on 3,975 categories of goods from Pakistan, by 11 percent to an average tax rate of 8 percent, effective on July 1, its Finance Ministry said on Tuesday, in an attempt to promote mutual trade.
Published 27 Jun, 2007 12:00am
Swiss judge set to wrap up Benazir money laundering inquiry

Swiss judge set to wrap up Benazir money laundering inquiry

A Swiss investigating judge is expected to complete soon a long-running inquiry into alleged money laundering by former Pakistan prime minister Benazir Bhutto, Geneva's chief prosecutor said on Tuesday.
Published 27 Jun, 2007 12:00am
Swiss judge set to wrap up Benazir money laundering inquiry

Swiss judge set to wrap up Benazir money laundering inquiry

A Swiss investigating judge is expected to complete soon a long-running inquiry into alleged money laundering by former Pakistan prime minister Benazir Bhutto, Geneva's chief prosecutor said on Tuesday.
Published 27 Jun, 2007 12:00am
IPI gas line talks today

IPI gas line talks today

A delegation, headed by Secretary Petroleum Ahmed Waqar will arrive here on Wednesday to attend 6th Tripartite Joint Working Group on Iran, Pakistan and India Gas Pipeline project. The Acting High Commissioner to India Afrasiab said the delegation will in
Published 27 Jun, 2007 12:00am
IPI gas line talks today

IPI gas line talks today

A delegation, headed by Secretary Petroleum Ahmed Waqar will arrive here on Wednesday to attend 6th Tripartite Joint Working Group on Iran, Pakistan and India Gas Pipeline project. The Acting High Commissioner to India Afrasiab said the delegation will in
Published 27 Jun, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 27 Jun, 2007 12:00am
IPI gas line talks today

IPI gas line talks today

A delegation, headed by Secretary Petroleum Ahmed Waqar will arrive here on Wednesday to attend 6th Tripartite Joint Working Group on Iran, Pakistan and India Gas Pipeline project. The Acting High Commissioner to India Afrasiab said the delegation will in
Published 27 Jun, 2007 12:00am
Bill on women veil submitted in NWFP Assembly

Bill on women veil submitted in NWFP Assembly

Female MPAs of the ruling religio- Alliance, MMA, in NWFP on Tuesday submitted a bill to provide protection to wearing veil 'Purdah' and dress code for working women in public and private sector offices in the Assembly Secretariat.
Published 27 Jun, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Minfal rejects wheat exporters' demand

Minfal rejects wheat exporters' demand

A senior official of Minfal on Tuesday rejected wheat exporters' plea that if wheat export did not start according to government's earlier decision then they would have to pay heavy penalties after cancellation of their agreements with the importers.
Published 27 Jun, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 27 Jun, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 27 Jun, 2007 12:00am
Fair polls not possible under Musharraf rule: PML-N

Fair polls not possible under Musharraf rule: PML-N

The Pakistan Muslim League (Nawaz) leaders MNA Memona Hashmi and MNA Rana Mehmood-ul-Hassan have said that any one trying to negotiate a deal with President Pervez Musharraf at this stage would only be jumping on his sinking boat to commit a political sui
Published 27 Jun, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
NGOs directory in Punjab to be printed soon

NGOs directory in Punjab to be printed soon

Most of the non-governmental organisations (NGOs) were delivering positive results and more than 6000 NGOs are active in the fields of health, education and social welfare. Advisor to Chief Minister and Chairperson Social Services Board, Punjab, Ms Saba S
Published 27 Jun, 2007 12:00am
Scattered rains worsen humid weather in Lahore

Scattered rains worsen humid weather in Lahore

Provincial metropolis received scattered rain that further worsens the humid weather on Tuesday, making the lives of the locals miserable. According to Pakistan Meteorological Department Lahore, the city received 2-mm of rain for a short span, although he
Published 27 Jun, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Accountability of generals, judges demanded

Accountability of generals, judges demanded

Tameer-i-Wattan Party Chairman Lieutenant General Faiz Ali Chasti (Retd) has demanded complete accountability of all military generals, judges and politicians since 1947 without favouritism. He said there was no chance that conditions in the country would
Published 27 Jun, 2007 12:00am
Shujaat and Elahi condole

Shujaat and Elahi condole

PML President Chaudhry Shujaat Hussain and Punjab Chief Minister Chaudhry Pervaiz Elahi on Tuesday visited Muhammad Khan Bhatti's residence, special Secretary to CM and expressed deep sense of sorrow and grief over the sad demise of his sister.
Published 27 Jun, 2007 12:00am
Amended Seed Act summary to be moved to cabinet soon

Amended Seed Act summary to be moved to cabinet soon

The Ministry of Food, Agriculture and Livestock (Minfal) is expected to shortly move a summary to the federal cabinet on the proposed amendments in the Seed Act 1976 as the provinces have authorised the federal government to bring in certain changes in th
Published 27 Jun, 2007 12:00am
President and Prime Minister greet Qatar Emir

President and Prime Minister greet Qatar Emir

President General Pervez Musharraf and Prime Minister Shaukat Aziz have warmly greeted Emir of Qatar, Sheikh Hamad bin Khalifa al-Thani on the occasion of the 12th anniversary of his accession to Emirship, falling on June 27.
Published 27 Jun, 2007 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee picked up four paisa against dollar in the interbank market on Tuesday at Rs 60.57 and Rs 60.59 for buying and selling, respectively. Currency analysts said that the rupee managed to recover some ground due to easy supply of dollars during the f
Published 27 Jun, 2007 12:00am
Pakistan for stopping chemicals supply to Afghan heroin factories

Pakistan for stopping chemicals supply to Afghan heroin factories

The United States and other countries should stop supplying chemicals to Afghan factories, producing heroin, to save the rest of the world from drug abuse, said Federal Minister for Narcotics Control Ghaus Bakhsh Khan Mahar here on Tuesday.
Published 27 Jun, 2007 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee picked up four paisa against dollar in the interbank market on Tuesday at Rs 60.57 and Rs 60.59 for buying and selling, respectively. Currency analysts said that the rupee managed to recover some ground due to easy supply of dollars during the f
Published 27 Jun, 2007 12:00am
Taxpayers advised to check data printed in CPR issued by banks

Taxpayers advised to check data printed in CPR issued by banks

Taxpayers should properly check the information printed on 'Computerised Payment Receipt' (CPR), issued by banks, to ensure collection of accurately stamped CPR on payment of income tax under new automation system.
Published 27 Jun, 2007 12:00am
Rains expose tall claims of CDGK

Rains expose tall claims of CDGK

Thoroughfares flooded with rainwater and dumped with fallen trees across the metropolis have left Karachiites raising eyebrows on sky-high claims of the city government. The City District Government of Karachi (CDGK) here on Tuesday said that other agenci
Published 27 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Commerce ministry's clarification

Commerce ministry's clarification

This refers to the news item report, which appeared in the daily Business Recorder of June 26, 2007 under the caption "massive irregularities found in EDF and EMDF". Ministry of Commerce and Trade Development Authority of Pakistan strongly rebuts t
Published 27 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 26, 2007).

Published 27 Jun, 2007 12:00am
Japan pledges Rs four million grant for Larkana school

Japan pledges Rs four million grant for Larkana school

Japan will provide a grant of US $63,564 (approximately Rs 4 million) to Sindh People's Welfare Trust (SPWT) for implementation of the Project, "Expansion of Bakhtwar Model School, Larkana, Sindh". The agreement for the project was signed in Islamabad bet
Published 27 Jun, 2007 12:00am
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