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Archive - 2007-06-29
Sales tax on imported steel products reduced

Sales tax on imported steel products reduced

The Central Board of Revenue (CBR) has reduced sales tax from 20 to 15 percent on the import of ingots, billets, iron and steel scrap and other items of steel/paper industries. Sales Tax has also been reduced from 20 to 17.5 percent on flat rolled iron an
Published 29 Jun, 2007 12:00am
Sales tax on imported steel products reduced

Sales tax on imported steel products reduced

The Central Board of Revenue (CBR) has reduced sales tax from 20 to 15 percent on the import of ingots, billets, iron and steel scrap and other items of steel/paper industries. Sales Tax has also been reduced from 20 to 17.5 percent on flat rolled iron an
Published 29 Jun, 2007 12:00am
Raw cotton prices touch season's highest level

Raw cotton prices touch season's highest level

Raw cotton prices on Thursday touched the current year's highest level of Rs 2,900 per maund (37.24 kilograms). The Rs 100 per maund rise in the price was attributed by the traders to the late arrival of fresh cotton crop due to monsoon rains.
Published 29 Jun, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Raw cotton prices touch season's highest level

Raw cotton prices touch season's highest level

Raw cotton prices on Thursday touched the current year's highest level of Rs 2,900 per maund (37.24 kilograms). The Rs 100 per maund rise in the price was attributed by the traders to the late arrival of fresh cotton crop due to monsoon rains.
Published 29 Jun, 2007 12:00am
Raw cotton prices touch season''s highest level

Raw cotton prices touch season''s highest level

Raw cotton prices on Thursday touched the current year''s highest level of Rs 2,900 per maund (37.24 kilograms). The Rs 100 per maund rise in the price was attributed by the traders to the late arrival of fresh cotton crop due to monsoon rains.
Published 29 Jun, 2007 12:00am
Lahore stocks mixed

Lahore stocks mixed

Share values moved both sides on Lahore Stock Exchange (LSE) on the second last day of the current trading week, but the market ended on a bullish note following interest in selective chips, especially in Mansha Group companies' shares.
Published 29 Jun, 2007 12:00am
Lahore stocks mixed

Lahore stocks mixed

Share values moved both sides on Lahore Stock Exchange (LSE) on the second last day of the current trading week, but the market ended on a bullish note following interest in selective chips, especially in Mansha Group companies' shares.
Published 29 Jun, 2007 12:00am
'Over a million in Karachi still out of tax net'

'Over a million in Karachi still out of tax net'

The Regional Tax Office (RTO), Karachi, has detected about 1.1 million people, having tax potential of Rs 165 billion, are still out of tax net. Karachi RTO collects Rs 73.8 billion from 0.49 million taxpayers against the total taxable population of 1.59
Published 29 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Portfolio investment declines by 4.42 million dollars

Portfolio investment declines by 4.42 million dollars

Portfolio investment, as represented by Special Convertible Rupee Accounts (SCRAs), has declined by 4.42 million dollars during the last couple of days and stood at 977.954 million dollars on June 27 from its highest level of 982.381 million dollars on Ju
Published 29 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Portfolio investment declines by 4.42 million dollars

Portfolio investment declines by 4.42 million dollars

Portfolio investment, as represented by Special Convertible Rupee Accounts (SCRAs), has declined by 4.42 million dollars during the last couple of days and stood at 977.954 million dollars on June 27 from its highest level of 982.381 million dollars on Ju
Published 29 Jun, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Portfolio investment declines by 4.42 million dollars

Portfolio investment declines by 4.42 million dollars

Portfolio investment, as represented by Special Convertible Rupee Accounts (SCRAs), has declined by 4.42 million dollars during the last couple of days and stood at 977.954 million dollars on June 27 from its highest level of 982.381 million dollars on Ju
Published 29 Jun, 2007 12:00am
US MIDDAY: gold and silver bounce

US MIDDAY: gold and silver bounce

US gold and silver futures rebounded early on Thursday on physical buying and short covering, as data showed that inflation pressures were stronger than expected.
Published 29 Jun, 2007 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

US copper futures climbed to a two-week high at the open on Thursday as investors bid the market up on concerns that output will take a hit at one of the world's largest copper mines where workers voted to strike, analysts said.
Published 29 Jun, 2007 12:00am
US MIDDAY: soyabeans stay strong

US MIDDAY: soyabeans stay strong

Soyabean futures at the Chicago Board of Trade rose on Thursday, supported by the strength in soyaoil, traders said. July soyabeans were up 5 cents at $8.08-1/2 per bushel by 12:40 pm CDT (1740 GMT). The back months were up 2 to 5 cents.
Published 29 Jun, 2007 12:00am
US MIDDAY: wheat firms

US MIDDAY: wheat firms

Wheat futures at the Chicago Board of Trade were higher at midsession on Thursday, rallying from Wednesday's lower close on bullish weekly export data and an outlook for tighter global wheat supplies, traders said.
Published 29 Jun, 2007 12:00am
US MIDDAY: corn mixed

US MIDDAY: corn mixed

Corn futures at the Chicago Board of Trade were mixed in choppy dealings early on Thursday ahead of the release early Friday of USDA's June plantings and quarterly stocks reports, traders said.
Published 29 Jun, 2007 12:00am
London gold bounces from three-month low

London gold bounces from three-month low

Gold bounced back on Thursday after hitting three-month lows the previous day, but analysts were awaiting the outcome of a two-day Federal Reserve meeting that should steer financial markets in the short term.
Published 29 Jun, 2007 12:00am
Base metals move up as risk-aversion eases

Base metals move up as risk-aversion eases

Base metal prices rose on Thursday, recovering from this week's cross-asset sell-off as risk aversion eased in a market now underpinned by industrial action, traders said.
Published 29 Jun, 2007 12:00am
Big demand for high-end gems seen

Big demand for high-end gems seen

Commodity asset manager Diapason sees strong demand for high-end polished diamonds and is aiming to raise between $150 million and $400 million in a new closed-end fund invested in the gemstones that will be listed on London's main market.
Published 29 Jun, 2007 12:00am
New York cotton futures slightly lower

New York cotton futures slightly lower

US cotton ended a touch lower on Thursday as players took profits after near 10-month highs in the previous session driven by market talk that cotton acreage could be the smallest in 18 years.
Published 29 Jun, 2007 12:00am
Monsanto plans corn seed expansion, higher prices

Monsanto plans corn seed expansion, higher prices

With demand for corn surging, Monsanto Co plans to invest $610 million in US corn seed production facilities after inventory was nearly exhausted this season, the company said on Thursday.
Published 29 Jun, 2007 12:00am
Oil hits 10-month high on low US fuel stocks

Oil hits 10-month high on low US fuel stocks

US oil topped $70 a barrel on Thursday for the first time in nearly 10 months following a sharp drop in gasoline stocks during peak summer driving demand in the world's biggest consumer.
Published 29 Jun, 2007 12:00am
Oil price-demand link no longer as simple as ABC

Oil price-demand link no longer as simple as ABC

"Oil prices go up and demand goes down, it's simple, it's ABC," then Saudi Oil Minister Zaki Yamani was quoted as saying in 1979, shortly before demand then prices collapsed from a record above $30 a barrel. Few would agree with him today.
Published 29 Jun, 2007 12:00am
Lyxor launches new commodity ETFs

Lyxor launches new commodity ETFs

France's Lyxor Asset Management will list two exchange-traded funds (ETFs) in London on Thursday, offering investors heavy exposure to soft commodities plus energy, grains and livestock.
Published 29 Jun, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 Jun, 2007 12:00am
Iran completes six-kilometer wall along Pakistan border

Iran completes six-kilometer wall along Pakistan border

Iran has completed construction of six kilometers of concrete wall along Pakistan-Iran border. According to details, Iranian authorities sealed Pakistan-Iran border for about two and half months after bomb explosion in Zahidan city. Later they started con
Published 29 Jun, 2007 12:00am
Three militants killed by own bomb

Three militants killed by own bomb

Three militants died when a bomb they were planting on a road used by the army detonated prematurely in a tribal area bordering Afghanistan, officials said on Thursday. The three were killed at Datta Khel village in the North Waziristan district late on W
Published 29 Jun, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Prime Minister directs NDMA for timely relief to victims

Prime Minister directs NDMA for timely relief to victims

Prime Minister Shaukat Aziz on Thursday directed the National Disaster Management Authority (NDMA) to ensure that people in the cyclone affected area are provided timely relief, food, medical aid and shelter.
Published 29 Jun, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Jun, 2007 12:00am
No rift in PML, claims Mushahid

No rift in PML, claims Mushahid

Secretary General Pakistan Muslim League Mushahid Hussain Sayed while strongly refuting the impression about any disintegration in the ranks of Pakistan Muslim League (PML) said the party is as strong as it ever was. Talking to a private television channe
Published 29 Jun, 2007 12:00am
Hub Dam level hits peak; flood ruled out

Hub Dam level hits peak; flood ruled out

The water level at Hub Dam has reached up to 325.5 feet due to ongoing spell of torrential rains, while concerned officials said there was no danger of flood in adjacent localities. When the heavy downpour started lashing the metropolis, the level of wate
Published 29 Jun, 2007 12:00am
Monsoon likely to hit Karachi after 3-4 days

Monsoon likely to hit Karachi after 3-4 days

A strong monsoon spell is expected to reach the metropolis after three to four days as depression has developed in Bay of Bengal, a Met official said here on Thursday. He said that this system would cause widespread heavy rains and strong gusty winds in S
Published 29 Jun, 2007 12:00am
Landmine blasts kill soldier

Landmine blasts kill soldier

A soldier was killed and seven other people wounded in two separate landmine blasts in Baluchistan province, officials said on Thursday. The trooper and three others were wounded when their vehicle hit a landmine planted by suspected tribal rebels in Dera
Published 29 Jun, 2007 12:00am
Pakistan's Foreign exchange reserves now $15.18 billion

Pakistan's Foreign exchange reserves now $15.18 billion

Country's total liquid foreign reserves reached ever-highest level of 15.18 billion dollar. According to State Bank of Pakistan (SBP), the country's total liquid foreign reserves stood at 15.1822 billion dollars on June 23, out of which 12.7546 billion do
Published 29 Jun, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Early polls ruled out in Pakistan

Early polls ruled out in Pakistan

The government has ruled out calling a snap election to lift itself out of a political crisis brought on by President Pervez Musharraf's move to oust the country's top judge, a senior official told Reuters.
Published 29 Jun, 2007 12:00am
Cement: FAUJI CEMENT COMPANY LIMITED - Nine Months Ended March 31, 2007

Cement: FAUJI CEMENT COMPANY LIMITED - Nine Months Ended March 31, 2007

It is a public limited company, incorporated in Pakistan on November 23, 1992 under the companies ordinance 1984 and having its registered office situated at Aslam Plaza, Adamjee Road, Rawalpindi (Punjab). Fauji Foundation holds 45.8% ordinary and 100% pr
Published 29 Jun, 2007 12:00am
MCB achieves yet another milestone

MCB achieves yet another milestone

MCB Bank Limited has achieved yet another milestone in the way of extending their network at every nook & corner of the country. The bank has recently opened up a new branch at Nishat Mills Rohi Nala Ferozpur Road Lahore making the total number of branche
Published 29 Jun, 2007 12:00am
Cement: FAUJI CEMENT COMPANY LIMITED - Nine Months Ended March 31, 2007

Cement: FAUJI CEMENT COMPANY LIMITED - Nine Months Ended March 31, 2007

It is a public limited company, incorporated in Pakistan on November 23, 1992 under the companies ordinance 1984 and having its registered office situated at Aslam Plaza, Adamjee Road, Rawalpindi (Punjab). Fauji Foundation holds 45.8% ordinary and 100% pr
Published 29 Jun, 2007 12:00am
Supply of fish seed to farmers starts

Supply of fish seed to farmers starts

Fisheries Department Punjab has started the supply of fish seed to the farmers throughout the province and this supply would continue till October 31.
Published 29 Jun, 2007 12:00am
AQ Khan network out of business: US

AQ Khan network out of business: US

The AQ Khan network is "out of business", the United States said while also acknowledging Pakistan's measures to prevent the scientist from engaging in the kind of activities he was previously involved. "To my knowledge, the network as we knew it is out o
Published 29 Jun, 2007 12:00am
Teradata plans to expand operations

Teradata plans to expand operations

Teradata, a global enterprise leader in data warehousing and division of NCR Corporation on Thursday announced plans to expand its Europe, Middle East, Africa (EMEA) off shoring and outsourcing operations in Pakistan, servicing the business intelligence n
Published 29 Jun, 2007 12:00am
THE RUPEE: no change in interbank ratio

THE RUPEE: no change in interbank ratio

Stability was witnessed in the interbank market on Thursday as the rupee did not show any variation against dollar for buying and selling at Rs 60.53 and Rs 60.54, but it gain three paisa for buying and selling, respectively, dealers said.
Published 29 Jun, 2007 12:00am
'She Couple' released on bail

'She Couple' released on bail

The Supreme Court has accepted the appeal of the 'She Couple', suspended judgement of the Lahore High Court and released them on bail here on Thursday. A two-member bench headed by Acting Chief Justice Rana Baghwandas and Justice Sardar Mohammad Raza Khan
Published 29 Jun, 2007 12:00am
THE RUPEE: no change in interbank ratio

THE RUPEE: no change in interbank ratio

Stability was witnessed in the interbank market on Thursday as the rupee did not show any variation against dollar for buying and selling at Rs 60.53 and Rs 60.54, but it gain three paisa for buying and selling, respectively, dealers said.
Published 29 Jun, 2007 12:00am
Kidnapped youth's body recovered

Kidnapped youth's body recovered

Airport Police have recovered the body of the kidnapped youth Obaid Pasha from a slum of Golra Sharif and arrested two persons. According to details, police has received information regarding some suspicious movement and police raided a house in slum near
Published 29 Jun, 2007 12:00am
Lawyers and political parties protest CJP's suspension

Lawyers and political parties protest CJP's suspension

The lawyers, political workers and representatives of different organisations of civil society held a rally here on Thursday at the Mall Road against the suspension of Chief Justice of Pakistan Iftikhar Muhammad Chaudhry.
Published 29 Jun, 2007 12:00am
CSIBL merges with Innovative Housing Finance

CSIBL merges with Innovative Housing Finance

Crescent Standard Investment Bank Limited (CSIBL) stood merged with Innovative Housing Finance Limited (IHFL) to finally become Innovative Investment Bank Limited. Badruddin Khan, Administrator of CSIBL, disclosed this at a press conference here on Thursd
Published 29 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
27 civil judges transferred

27 civil judges transferred

The Chief Justice of the Lahore High Court (LHC) has transferred as many as 27 civil judges-cum-judicial magistrates.
Published 29 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
China Mobile to set up modern phone exchange in QIE

China Mobile to set up modern phone exchange in QIE

World telecom giant China Mobile would set up the most modern telephone exchange in Quaid-i-Azam Industrial Estate (QIE) in the provincial metropolis. President QIE Mian Nauman Kabir revealed this after a meeting with a high-level delegation of China Mobi
Published 29 Jun, 2007 12:00am
Heavy rainfall in Lahore

Heavy rainfall in Lahore

Reports of heavy rains in Lahore have received on Thursday, although it only lasted for a short span of time, which also increased humidity level. According to the meteorological department Lahore, the city received 2mm of rain in the afternoon and more r
Published 29 Jun, 2007 12:00am
Pacra maintains BoP ratings

Pacra maintains BoP ratings

Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term and short-term ratings of the Bank of Punjab (BoP) at "AA" (Double A) and "A1+" (A One Plus), respectively.
Published 29 Jun, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Pacra maintains BoP ratings

Pacra maintains BoP ratings

Pakistan Credit Rating Agency Limited (Pacra) has maintained the long-term and short-term ratings of the Bank of Punjab (BoP) at "AA" (Double A) and "A1+" (A One Plus), respectively.
Published 29 Jun, 2007 12:00am
West Indies win first Twenty20 match

West Indies win first Twenty20 match

Paul Collingwood made a rapid half-century, but could not prevent his reign as England one-day captain beginning with a defeat as the West Indies won the first Twenty20 international by 15 runs.
Published 29 Jun, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Thursday (June 28, 2007) and for Friday (June 29, 2007).
Published 29 Jun, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
LHW playing role in saving lives of women: Nasir

LHW playing role in saving lives of women: Nasir

Lady Health Workers (LHW) programme has been declared a 'star' programme by international evaluation committees. The strength of these workers will reach to 100,000 till the end of this year. Federal Health Minister, Muhammad Nasir Khan gave this statemen
Published 29 Jun, 2007 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Thursday (June 28, 2007).

Published 29 Jun, 2007 12:00am
Corporate offices: Telecommunication links suspended in Islamabad

Corporate offices: Telecommunication links suspended in Islamabad

Telecommuni-cation links at corporate offices in Islamabad were suspended on Thursday morning after the construction activity damaged underground supply cables. Telephones were muted and internet services got disconnnected when cables were tore apart by d
Published 29 Jun, 2007 12:00am
Bid to smuggle antiques foiled

Bid to smuggle antiques foiled

The Air Freight Unit (AFU) of Pakistan Customs has foiled a bid to smuggle antiques in the garb of gift bound for Germany at export cargo complex, Quaid-i-Azam International Airport. The Collectorate of Customs (Exports) on Thursday said that the customs
Published 29 Jun, 2007 12:00am
Key stock and currency market movements

Key stock and currency market movements

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

Published 29 Jun, 2007 12:00am
Arbab orders changes in education department

Arbab orders changes in education department

Sindh Chief Minister Arbab Ghulam Rahim has ordered immediate changes in the provincial education department. As per changes the Education and Literacy department, including Primary, Secondary, Higher Secondary, Technical Education and other related field
Published 29 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Thursday (June 28, 2007) and the forecast for Friday (June 29, 2007).
Published 29 Jun, 2007 12:00am
Chinese trade team due on July 11

Chinese trade team due on July 11

A large high-powered Chinese trade mission will arrive in Pakistan on July 11 to discuss investment and trade promotion possibilities between the two countries. According to Trade Development Authority of Pakistan (TDAP) here on Thursday, Vice Minister of
Published 29 Jun, 2007 12:00am
Seminar on Finance Act on July 2

Seminar on Finance Act on July 2

A post-budget seminar on "Finance Act 2007" will be held at the Medium Taxpayers Unit here on July 2-3. According to an official announcement, six panels would deliberate on specific aspects of amendments made to the Finance Act 2007.
Published 29 Jun, 2007 12:00am
Telenor's ranking upgraded

Telenor's ranking upgraded

Telenor has jumped to the No 5 spot on BusinessWeek's 2007 global ranking of the top 100 performers in the information technology industry. According to a press release issued here on Thursday, Telenor left behind other well-known players such as Apple (N
Published 29 Jun, 2007 12:00am
Refrigerators and air-conditioners sale down 50 percent

Refrigerators and air-conditioners sale down 50 percent

Unabated load shedding followed by pre-monsoon rains have badly affected the sale of refrigerators and air-conditioners and, for the first time in Karachi's history, the consumption of the two most-sought electric appliances amid peak-buying season was re
Published 29 Jun, 2007 12:00am
Cell phone subscribers number jumps to 60.9 million

Cell phone subscribers number jumps to 60.9 million

The number of mobile subscribers in the country has jumped to 60.9 million with cellular density, rising to 39.16 percent. According to recent statistics, during May, the mobile phone subscribers in Pakistan increased by 2.6 million and the total subscrib
Published 29 Jun, 2007 12:00am
Corporate member of KSE

Corporate member of KSE

The Karachi Stock Exchange (KSE) has accepted the corporate membership application of Kosmopolitan Securities (Private) Limited on the nomination of RAS Securities (Private) Limited, Corporate Member.
Published 29 Jun, 2007 12:00am
Ali Raza gets Asian Banker Leadership Achievement Award

Ali Raza gets Asian Banker Leadership Achievement Award

The Advisory Council of the Asian Banker Summit has awarded S Ali Raza, Chairman and President National Bank of Pakistan (NBP) as the sole recipient of 'The Leadership Achievement Award' for the Financial Services Industry in Pakistan 2006.
Published 29 Jun, 2007 12:00am
Engro to sign GSA by July-end

Engro to sign GSA by July-end

Engro Energy is expecting to put pen on a General Sales Agreement (GSA) for its power plant by end of July. Talking to Aaj Markets CEO Engro Energy Khalid Mansoor said the proposed plant would have the production capacity of 218 MW; utilisation of waste g
Published 29 Jun, 2007 12:00am
Working women's hostel becomes operational

Working women's hostel becomes operational

Working women's hostel at Government Zubeda Girls College Hyderabad has started its operation for in-service women of remote areas of Sindh. The hostel was funded by the ministry of women development, while its proposal was moved by the business and profe
Published 29 Jun, 2007 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's top share index ended up 0.7 percent on Thursday, as mining and oil shares helped a rebound ahead of a decision on US interest rates. The FTSE 100 closed up 43.7 points at 6,571.3, but underperformed other major European markets because of its d
Published 29 Jun, 2007 12:00am
Seoul shares gain

Seoul shares gain

Seoul shares logged a 1.1 percent gain on Thursday, ending a four-day decline, as local investors chased beaten-down brokerage and insurance stocks amid hopes for deregulation and stable quarterly earnings.
Published 29 Jun, 2007 12:00am
US Stocks: Thursday's early afternoon trade

US Stocks: Thursday's early afternoon trade

US stocks rose slightly on Thursday, led by technology shares, although investors remained cautious before a Federal Reserve statement which could give clues on the outlook for interest rates. Communications equipment and semiconductor stocks got a boost
Published 29 Jun, 2007 12:00am
Crossover index volatile as investors balance risks

Crossover index volatile as investors balance risks

The iTraxx Crossover index was volatile on Thursday as rising demand for credit was offset by continuing concern over the US subprime loan market. The cost of insuring debt of Cadbury Schweppes rose after the company said a US private investor had raised
Published 29 Jun, 2007 12:00am
Crossover index volatile as investors balance risks

Crossover index volatile as investors balance risks

The iTraxx Crossover index was volatile on Thursday as rising demand for credit was offset by continuing concern over the US subprime loan market. The cost of insuring debt of Cadbury Schweppes rose after the company said a US private investor had raised
Published 29 Jun, 2007 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee climbed on Thursday, buoyed by firming overnight lending rates and as exporters repatriated profits, but gains were limited as traders unwound short dollar positions to book profits.
Published 29 Jun, 2007 12:00am
Yen retreats in London

Yen retreats in London

The yen's three-day rally stalled on Thursday as a rebound in stocks eased concerns about the US high-risk mortgage market and prompted investors to borrow the Japanese currency again to fund carry trades.
Published 29 Jun, 2007 12:00am
Pound strengthens versus dollar

Pound strengthens versus dollar

Sterling strengthened against the dollar on Thursday on the back of surprisingly strong British housing data and after Bank of England policymakers said inflationary risks remain to the upside.
Published 29 Jun, 2007 12:00am
Power generation plants to overcome crisis: minister

Power generation plants to overcome crisis: minister

Federal Minister for Water and Power Liaquat Ali Khan Jatoi has said that the establishment of new power generation plants would help in meeting out the shortfalls of electricity in the country.
Published 29 Jun, 2007 12:00am
APC will be result-oriented: PDP

APC will be result-oriented: PDP

The Pakistan Muslim League (N) has guaranteed that the All Parties Conference (APC) in London will be result-oriented, said Nawabzada Mansoor Ahmed Khan, Chief of Pakistan Democratic Party (PDP) and vice president of ARD while addressing a press conferenc
Published 29 Jun, 2007 12:00am
HEC workshop

HEC workshop

Higher Education Commission (HEC) Regional Centre, Peshawar, is organising two-day workshop for senior management of public sector universities of NWFP on July 4 and 5 at the Regional Centre Rahatabad. The eminent United States scholar has been invited as
Published 29 Jun, 2007 12:00am
Fruit prices go beyond common man's reach

Fruit prices go beyond common man's reach

Rates of fruits are much higher than preceding year and beyond the reach of common man, which caused slow trading activity in fruit and vegetable markets on Thursday and, on the other, the rates of all essential kitchen items remained stable in Akbari Man
Published 29 Jun, 2007 12:00am
Sialkot allocated Rs 400 million for road construction

Sialkot allocated Rs 400 million for road construction

Sialkot District Government has allocated more than Rs 400 million in 2007-08 budget for the construction of new roads of 200km length in Sialkot, Pasrur, Daska and Sambrial tehsils of the district. District nazim Akmal Cheema told newsmen here on Thursda
Published 29 Jun, 2007 12:00am
Punjab budget sans NFC award unconstitutional: Fakhr

Punjab budget sans NFC award unconstitutional: Fakhr

Former speaker of National Assembly Syed Fakhr Imam who is a leader of PPP has termed the provincial budget without the NFC Award as 'unconstitutional' and accused the Sindh government for not taking issue of the NFC award with federal government seriousl
Published 29 Jun, 2007 12:00am
Saifullah grieved over loss of lives in rains

Saifullah grieved over loss of lives in rains

Federal Minister for Inter Provincial Co-ordination Salim Saifullah Khan on Thursday expressed his profound grief over the loss of lives and property by rains and storm in Sindh and Balochistan. He said government was utilising all available resources to
Published 29 Jun, 2007 12:00am
Over Rs 159 million irregularities detected in Railways

Over Rs 159 million irregularities detected in Railways

The Auditor General of Pakistan has detected more than Rs 159.224 million irregularities in Pakistan Railways. The audit report on the accounts of Pakistan Railways for year 2005-06 says that the financial position of Pakistan Railways is not sound and is
Published 29 Jun, 2007 12:00am
PPP condemns Pemra notice to Royal TV

PPP condemns Pemra notice to Royal TV

Pakistan Peoples Party on Thursday has reacted to the fresh round of curbs being imposed on the media. In a statement issued here, Sherry Rahman, secretary information of the party, said the Pemra had served notice on Royal Tv and its transmission
Published 29 Jun, 2007 12:00am
'Voter registration deadline extension likely'

'Voter registration deadline extension likely'

Minister for Information and Broadcasting Senator Muhammad Ali Durrani has said the suggestions for extending voter registration deadline are being considered by the concerned quarters.
Published 29 Jun, 2007 12:00am
Anti-encroachment drive from July

Anti-encroachment drive from July

The Capital Development Authority (CDA) would launch a rigorous campaign against encroachment in different sectors and commercial areas of the capital from next month. Director Anti Enforcement Directorate Syed Murtaza Bukhari said that efforts are being
Published 29 Jun, 2007 12:00am
Urbanisation to deepen poverty, accelerate environment degradation

Urbanisation to deepen poverty, accelerate environment degradation

The State of World Population report 2007, launched by UNFPA on Wednesday, highlights the unprecedented shift of the world's population towards urban areas that could enhance development and promote sustainability or deepen poverty and accelerate environm
Published 29 Jun, 2007 12:00am
NWFP Assembly rejects hike in Hajj fare

NWFP Assembly rejects hike in Hajj fare

The NWFP Assembly on Thursday rejected the decision of 10 percent increase in Hajj fare by the federal cabinet through passage of a unanimous resolution after terming liable to big injustice with the people of the country.
Published 29 Jun, 2007 12:00am
Over Rs 28 million fraud unearthed in NAPWD

Over Rs 28 million fraud unearthed in NAPWD

The Auditor General of Pakistan has detected irregularities worth over Rs 28 million in the Northern Areas Public Works Department (NAPWD) during 2004-05.
Published 29 Jun, 2007 12:00am
No pressure on Supreme Court over reference: Wasi

No pressure on Supreme Court over reference: Wasi

Federal Minister for Law and Justice Wasi Zafar has dispelled the impression regarding any pressure on Supreme Court regarding the reference against Chief Justice Iftikhar Muhammad Chaudhry saying government has full confidence on judicial system of count
Published 29 Jun, 2007 12:00am
Teams sent to repair coastal highway: ISPR

Teams sent to repair coastal highway: ISPR

The government has rushed teams to Balochistan for repairing the Makran coastal highway portions, which were washed away in the cyclone yemyin, which battered the southern coast on Tuesday.
Published 29 Jun, 2007 12:00am
Lahore Rapid Mass Transit System to be introduced soon

Lahore Rapid Mass Transit System to be introduced soon

The Punjab Transport Department will introduce Lahore Rapid Mass Transit System (LRMTS) to provide international standard intra-city travelling facilities to the passengers of the metropolis with the cost of 2.4 billion dollars.
Published 29 Jun, 2007 12:00am
Ghauri made Honorary consul of Australia

Ghauri made Honorary consul of Australia

Chairman, Network Solutions (NetSol) Technologies Limited, Salim Ghauri, has been appointed as Honorary Consul of Australia for Punjab. Salim Ghauri, born on April 12, 1955, founded NetSol, the leading software company of Pakistan.
Published 29 Jun, 2007 12:00am
Punjab Assembly passes 72 bills

Punjab Assembly passes 72 bills

Punjab Assembly that has passed 72 bills so far in its deliberations since its inception passed 'The University of Arid Agriculture Rawalpindi (Amendment Bill 2004) on Thursday. The House on the occasion making change gave new name to university as 'Pir M
Published 29 Jun, 2007 12:00am
Punjab Assembly passes 72 bills

Punjab Assembly passes 72 bills

Punjab Assembly that has passed 72 bills so far in its deliberations since its inception passed 'The University of Arid Agriculture Rawalpindi (Amendment Bill 2004) on Thursday. The House on the occasion making change gave new name to university as 'Pir M
Published 29 Jun, 2007 12:00am
LCCI demands duty cut on tin raw material

LCCI demands duty cut on tin raw material

The Lahore Chamber of Commerce and Industry (LCCI) on Thursday demanded Central Board of Revenue (CBR) to reduce import duty on the raw material of tin can industry from existing 25 percent to 5 percent duty as the high duty structure was damaging the who
Published 29 Jun, 2007 12:00am
1,162 gastro patients admitted

1,162 gastro patients admitted

Dr Muhammad Faheem, Incharge, Emergency Ward, Nishter Hospital Multan said 1,162 gastro patients were admitted to emergency ward during the last 12 days. Talking to newsmen, he said of the 1,162 new gastro patients, 799 were admitted to the emergency ward
Published 29 Jun, 2007 12:00am
Cotton prices shoot up suddenly

Cotton prices shoot up suddenly

In about ten days time lint prices for the current crop (2006-07) took a quantum jump and increased from about Rs 2700 to Rs 2900 per maund (37.32 kgs). Furthermore, a ginner said to be holding about 15000 bales at his two ginning factories in Jehania and
Published 29 Jun, 2007 12:00am
Cotton prices shoot up suddenly

Cotton prices shoot up suddenly

In about ten days time lint prices for the current crop (2006-07) took a quantum jump and increased from about Rs 2700 to Rs 2900 per maund (37.32 kgs). Furthermore, a ginner said to be holding about 15000 bales at his two ginning factories in Jehania and
Published 29 Jun, 2007 12:00am
KCA raises spot rate by Rs 25

KCA raises spot rate by Rs 25

The official spot rate was modestly higher following the heavy rains in Sindh and Punjab, dealers said at the cotton market on Thursday.
Published 29 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December vaida maintained it downward trend on the forward cottonseed oilcake market on Thursday as buyers showed less interest inn the new deals, brokers said. The July vaida was unchanged at Rs 650.00 and closing w
Published 29 Jun, 2007 12:00am
CBoT wheat futures lower, retreats after new highs

CBoT wheat futures lower, retreats after new highs

Soft red winter wheat futures at the Chicago Board of Trade closed lower on Wednesday after rising to fresh multiyear highs, dragged down by a plunge in corn futures, traders said. However, wheat values bounced off their session lows toward the close.
Published 29 Jun, 2007 12:00am
WCE canola futures lower

WCE canola futures lower

Winnipeg Commodity Exchange canola futures ended lower on Wednesday on light speculative selling and hedges amid weaker Chicago Board of Trade soya futures, traders said. Canola ended 90 cents to $2.50 per tonne lower, with July down $2 at $370.60 and Nov
Published 29 Jun, 2007 12:00am
Indian soyaoil futures mixed

Indian soyaoil futures mixed

Indian soyaoil futures were mixed on Thursday, buoyed by an Indonesian government move to maintain an increased export tax on crude palm oil but weighed by some overnight losses in Chicago Board of Trade soyaoil futures.
Published 29 Jun, 2007 12:00am
Gram prices sharply higher on grain market

Gram prices sharply higher on grain market

Higher trend was seen on the grain market on Thursday as grams prices moved up due to short supplies from upcountry centres owing to transport problems, dealers said.
Published 29 Jun, 2007 12:00am
Corn drops on better crop weather

Corn drops on better crop weather

Corn futures at the Chicago Board of Trade fell 3 percent to an 8-month low on Wednesday on outlooks for better crop weather next week in the US Midwest crop region, traders said. "The weather looks overall pretty good now and the extended outlooks change
Published 29 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 128,409 tonnes cargo including 109,761 tonnes import, 18,648 tonnes export cargo and 3,687 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 29 Jun, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Thursday, as its differential to fuel oil cargoes remained in discount for the seventh-straight day. Prices for 380-centistoke (cst) were pegged at $358-$360 a tonne, rising $2 from the previous session, while the different
Published 29 Jun, 2007 12:00am
Provincial autonomy

Provincial autonomy

The media report that a provincial autonomy package is ready and would be placed before the National Assembly during the next session as a Bill for constitutional amendment, spells no surprise. But it is intriguing indeed for its timing, given that neithe
Published 29 Jun, 2007 12:00am
Well deserved recognition for PSQCA

Well deserved recognition for PSQCA

The World Trade Organisation (WTO) has designated Pakistan Standards & Quality Control Authority (PSQCA) as the Inquiry Point for Pakistan. According to a news report appearing in this newspaper, the WTO feels that a single central government authority sh
Published 29 Jun, 2007 12:00am
No sound reasons to privatise nit

No sound reasons to privatise nit

As part of the Government's policy to privatise public sector businesses, the Privatisation Commission of Pakistan invited expressions of interest for the sale of the rights to manage the Trust Fund which exists solely with National Investment Trust Limit
Published 29 Jun, 2007 12:00am
What makes Hong Kong successful

What makes Hong Kong successful

Beijing enforces Hong Kong's birdcage democracy. The stock market sputters. Nouveau riche Chinese run the show. That, at least, is what some prominent observers think about 2017. As Hong Kong marks the 10th anniversary of its handover to Chinese rule on a
Published 29 Jun, 2007 12:00am
Pakistan wants share in $5 billion global flower trade

Pakistan wants share in $5 billion global flower trade

Pakistan may soon be in a position to claim a share in the global flower trade, which is at present in excess of $5 billion annually, and increasing every year. In recent years, China, India, Kenya, Columbia and Israel have done exceedingly well in this f
Published 29 Jun, 2007 12:00am
Mr Common Sense: an obituary

Mr Common Sense: an obituary

Recently a memorial meeting was held to mourn the passing away of an old friend, Common Sense, from our moderately enlightened environment, who left after keeping us and our forefathers company for umpteen years.
Published 29 Jun, 2007 12:00am
KPT's role in rescue operations highlighted

KPT's role in rescue operations highlighted

Besides cargo handling activities, the Karachi Port Trust (KPT) has also emerged as a powerful force to rescue stranded people and distress vessels on the coastline and deep sea of the country's territorial waters.
Published 29 Jun, 2007 12:00am
CDGK budget 2007-08 to skip new uplift schemes

CDGK budget 2007-08 to skip new uplift schemes

The City District Government Karachi (CDGK) would propose no new developments scheme or project in its 'surplus' budget for fiscal year 2007-08. Official sources in the city government told Business Recorder here on Thursday that CDGK in the new bu
Published 29 Jun, 2007 12:00am
PRCS sends relief goods to Johi

PRCS sends relief goods to Johi

The Sindh chapter of Pakistan Red Crescent Society (PRCS) has dispatched relief goods worth Rs 300,000 to rain-hit areas of Johi Taluka of district Dadu through boats via Manchar Lake. Earlier, all efforts were failed to dispatch these goods by land route
Published 29 Jun, 2007 12:00am
Free DSL service for KPC members

Free DSL service for KPC members

The PTCL introduces DSL services in Pakistan, PTCL broadband service range from 256Kbps to 1Mbps and not only these DSL services are fast but very economical as monthly charges start from Rs 1,199 only up to Rs 4,999.
Published 29 Jun, 2007 12:00am
Putin keen to maintain ties with Bush

Putin keen to maintain ties with Bush

Russian President Vladimir Putin hopes to promote further dialogue with US President George W. Bush when they meet at the weekend, despite slim hopes of improving their ties, a Kremlin spokesman said on Thursday.
Published 29 Jun, 2007 12:00am
Russia keeps tricky Chavez visit low key

Russia keeps tricky Chavez visit low key

Venezuelan President Hugo Chavez used a visit to Russia on Thursday to lambaste US "imperialism" but his hosts kept him at arm's length to avoid spoiling Vladimir Putin's weekend trip to the United States.
Published 29 Jun, 2007 12:00am
US Senate hands Bush defeat on immigration

US Senate hands Bush defeat on immigration

The US Senate delivered an apparently fatal blow on Thursday to President George W. Bush's planned immigration overhaul and dashed the hopes of millions of immigrants seeking legal status.
Published 29 Jun, 2007 12:00am
US court strikes racial diversity school programmes

US court strikes racial diversity school programmes

Public schools cannot use race to decide where students attend classes, the US Supreme Court ruled on Thursday in a significant civil rights decision that may affect millions of students nation-wide.
Published 29 Jun, 2007 12:00am
Arabs doubt if Blair can succeed in Middle East

Arabs doubt if Blair can succeed in Middle East

Arabs said on Thursday they doubted former British Prime Minister Tony Blair could succeed as Middle East peace envoy because of his unpopularity and because he is too close to Israel and the United States.
Published 29 Jun, 2007 12:00am
Israeli president pleads guilty to sex offences

Israeli president pleads guilty to sex offences

President Moshe Katsav pleaded guilty on Thursday to committing sexual crimes against women employees, signing a plea bargain that will keep him out of jail, Israel's attorney-general said.
Published 29 Jun, 2007 12:00am
Jailed Libyan wins right to new Lockerbie appeal

Jailed Libyan wins right to new Lockerbie appeal

A Libyan intelligence agent convicted of the 1988 Lockerbie airline bombing over Scotland won the right on Thursday to launch a new appeal he said would prove his innocence. An independent review commission said it was referring the case of Abdel Basset a
Published 29 Jun, 2007 12:00am
Brown revamps government

Brown revamps government

Prime Minister Gordon Brown named rising star David Miliband on Thursday as Britain's youngest foreign minister in 30 years in a government shake-up designed to make a clean break from the Tony Blair years. Brown, who is promising change to woo back voter
Published 29 Jun, 2007 12:00am
Darling as finance minister

Darling as finance minister

Alistair Darling has been appointed as Britain's finance minister to replace Gordon Brown who is now prime minister, a move that signals continuity in British economic policy.
Published 29 Jun, 2007 12:00am
Rice sees hope for rapid progress on North Korea

Rice sees hope for rapid progress on North Korea

The United States expects that a nuclear disarmament pact with North Korea will advance quickly as Pyongyang takes actions to shut down its atomic programmes, Secretary of State Condoleezza Rice said on Thursday.
Published 29 Jun, 2007 12:00am
Over 50 killed in Afghanistan floods

Over 50 killed in Afghanistan floods

Floods in eastern Afghanistan triggered by unseasonal downpours have left around 56 people dead with about 100 plucked to safety overnight with the help of Nato helicopters, officials said Thursday.
Published 29 Jun, 2007 12:00am
Hong Kong dollar steady, FOMC meeting eyed

Hong Kong dollar steady, FOMC meeting eyed

The Hong Kong dollar ended little changed against the US dollar on Thursday after moving in a narrow range. The currency was trading at 7.8154/56 to the US dollar, barely changed from 7.8150/52 in late Wednesday trade in Asia.
Published 29 Jun, 2007 12:00am
Asian currencies mostly firm

Asian currencies mostly firm

Most Asian currencies rose on Thursday, led by a rebound in the Indonesian rupiah and Philippine peso as rising global stocks eased concerns about the broader fallout from the troubled US subprime mortgage market.
Published 29 Jun, 2007 12:00am
Swiss franc up versus dollar

Swiss franc up versus dollar

The Swiss franc rose against the dollar and held largely flat against the euro on Thursday as markets digested growth in the Swiss KOF barometer and ahead of the release of the Swiss National Bank's monetary policy report.
Published 29 Jun, 2007 12:00am
Yen rises as investors grow risk-averse

Yen rises as investors grow risk-averse

The yen gained broadly for a third straight session on Wednesday, as volatile global stock markets and concerns about fallout from the US subprime mortgage sector prompted investors to unwind carry trades.
Published 29 Jun, 2007 12:00am
Yen rally fizzles out in Tokyo trade

Yen rally fizzles out in Tokyo trade

The yen's three-day rally fizzled on Thursday as a rebound in US stocks eased concerns about fallout from problems in the US subprime mortgage sector, prompting investors to again sell the yen in carry trades. The Nikkei share average was up 0.57 percent
Published 29 Jun, 2007 12:00am
Yuan ends up, dealers note ample dollar supplies

Yuan ends up, dealers note ample dollar supplies

The yuan closed higher against the dollar on Thursday, buoyed by an influx of dollars from China's huge trade surplus and amid signs the central bank may let the currency rise at a slightly faster pace in the near term.
Published 29 Jun, 2007 12:00am
Tibet envoys in India head to China for talks

Tibet envoys in India head to China for talks

Two envoys of the Tibet government-in-exile in India will head for China on Friday for a sixth round of talks on greater autonomy for the Himalayan region, the exiles' foreign minister said Thursday.
Published 29 Jun, 2007 12:00am
Russia hopes Bush will heed it on missile shield

Russia hopes Bush will heed it on missile shield

Russia hopes Washington will take seriously its objections to the US missile shield plan, Russia's foreign minister said on Thursday before President Vladimir Putin's visit to the United States.
Published 29 Jun, 2007 12:00am
Ethiopia preparing for Eritrean invasion

Ethiopia preparing for Eritrean invasion

Ethiopia is making military preparations for any possible invasion by arch-foe and neighbour Eritrea, with whom it fought a devastating border war in 1998-2000, Prime Minister Meles Zenawi said on Thursday.
Published 29 Jun, 2007 12:00am
Police quiz Blair again in honours probe

Police quiz Blair again in honours probe

Former British Prime Minister Tony Blair has been questioned for a third time by London detectives investigating allegations of illegal political party funding, news media said on Thursday. A spokesman for Blair, 54, who stepped down on Wednesday and will
Published 29 Jun, 2007 12:00am
Dalai Lama envoys to head to China for talks

Dalai Lama envoys to head to China for talks

Envoys of Tibet's exiled spiritual leader, the Dalai Lama, will fly to China on Friday for a new round of closed-door talks, his office said, despite Beijing's squeeze on his overseas trips.
Published 29 Jun, 2007 12:00am
Russia to keep contacts with Hamas: diplomat

Russia to keep contacts with Hamas: diplomat

Russia intends to keep up its contacts with Hamas, a senior Foreign Ministry official said on Thursday, rejecting Western calls to isolate the Palestinian militant group after its take-over of the Gaza Strip.
Published 29 Jun, 2007 12:00am
Safin ends Aisam's Wimbledon Adventure

Safin ends Aisam's Wimbledon Adventure

Marat Safin ended Pakistani Aisam-ul-Haq Qureshi's Wimbledon adventure on Thursday with an authoritative 6-4 6-2 7-6 victory in their second round encounter. Safin will face top seed Roger Federer in the third round and he said he was relishing the challe
Published 29 Jun, 2007 12:00am
Federer speeds to third round

Federer speeds to third round

Roger Federer needed just 10 minutes on Thursday to finish his rain-interrupted match against Juan Martin del Potro, winning 6-2 7-5 6-1 to notch his 50th successive victory on grass. The win propelled him into a potentially tricky third-round tie with fo
Published 29 Jun, 2007 12:00am
Sania faces Israeli Wimbledon doubles storm

Sania faces Israeli Wimbledon doubles storm

India's Sania Mirza is braced for another political and religious storm after agreeing to renew her doubles partnership with Israel's Shahar Peer at Wimbledon. Mirza, a Muslim, and Peer are close friends on the tour and played together at the 2005 Japan O
Published 29 Jun, 2007 12:00am
Sri Lanka win first Test

Sri Lanka win first Test

Lasith Malinga and Muttiah Muralitharan combined to destroy Bangladesh as Sri Lanka won the first Test of their three-match series by an innings and 234 runs.
Published 29 Jun, 2007 12:00am
Draws of U-15 football championship announced

Draws of U-15 football championship announced

Pakistan Football Federation (PFF) announced the draws of sixth edition of National U-15 Championship 2007 which commenced at the grassy Shabbir Stadium inside Khanewal District Sports Complex on Wednesday night. As many as 13 teams are taking part in the
Published 29 Jun, 2007 12:00am
PCB taking care of ailing former cricketers

PCB taking care of ailing former cricketers

Pakistan Cricket Board (PCB) is taking care of ailing former Test cricketers and Chairman PCB has also taken a number of measures for the welfare of the former Test cricketers.
Published 29 Jun, 2007 12:00am
China to spend extra $300 million in Zambia

China to spend extra $300 million in Zambia

China will invest an additional $300 million in Zambia's mining and manufacturing industries, a government minister said on Tuesday. Commerce and Trade minister Felix Mutati said the money was in addition to the $900 million China has pledged to the Multi
Published 29 Jun, 2007 12:00am
EU to propose flexible labour laws, more security

EU to propose flexible labour laws, more security

European Union countries should make it easier to hire and fire workers to boost economic growth, while offering better social security cushions, the European Commission will propose on Wednesday.
Published 29 Jun, 2007 12:00am
Bear Stearns not planning to bail out second fund

Bear Stearns not planning to bail out second fund

Bear Stearns Companies Inc does not plan to bail out a second struggling fund that invests in repackaged debt securities, a source familiar with the matter said on Tuesday, while a company the investment bank set up to invest in the securities withdrew pl
Published 29 Jun, 2007 12:00am
Bear Stearns not planning to bail out second fund

Bear Stearns not planning to bail out second fund

Bear Stearns Companies Inc does not plan to bail out a second struggling fund that invests in repackaged debt securities, a source familiar with the matter said on Tuesday, while a company the investment bank set up to invest in the securities withdrew pl
Published 29 Jun, 2007 12:00am
India plans four-year overhaul of food output

India plans four-year overhaul of food output

India will soon unveil a blueprint to raise production of basic foods and cut the need for costly imports, a senior farm official said on Tuesday, and aims to lift wheat output by 11 percent over four years. "We will come out with a detailed paper within
Published 29 Jun, 2007 12:00am
Lagarde sees good French employment trend

Lagarde sees good French employment trend

French Economy Minister Christine Lagarde, speaking hours before the publication of official jobless figures for May, said on Thursday she saw a good employment trend in France. Lagarde declined to give details on the May figure or to name a target for Fr
Published 29 Jun, 2007 12:00am
US family tries living without China

US family tries living without China

Lamps, birthday candles, mouse traps and flip-flops. Such is the stuff that binds the modern American family to the global economy, author Sara Bongiorni discovers during a year of boycotting anything made in China.
Published 29 Jun, 2007 12:00am
SEC sees mutual recognition of rules step by step

SEC sees mutual recognition of rules step by step

A landmark move by the US Securities and Exchange Commission to accept the market rules of a foreign operator's country would be done on a selective basis first, a senior SEC official said on Tuesday.
Published 29 Jun, 2007 12:00am
SEC sees mutual recognition of rules step by step

SEC sees mutual recognition of rules step by step

A landmark move by the US Securities and Exchange Commission to accept the market rules of a foreign operator's country would be done on a selective basis first, a senior SEC official said on Tuesday.
Published 29 Jun, 2007 12:00am
New York seeks Wal-Mart records on alleged surveillance

New York seeks Wal-Mart records on alleged surveillance

The New York City Comptroller demanded Wal-Mart Stores Inc records dating from 2002 to determine whether the retailer performed illegal surveillance on shareholders who submitted proxy petitions.
Published 29 Jun, 2007 12:00am
Thailand and India seek to push free trade agreement

Thailand and India seek to push free trade agreement

India and Thailand sought to hasten negotiations on a free trade pact, with the Thai prime minister trying to allay concerns over political uncertainty in his country after last year's military coup.
Published 29 Jun, 2007 12:00am
Romania parliament clears pensions hike

Romania parliament clears pensions hike

The Romanian parliament cleared a draft law on Thursday nearly doubling state pensions in the next two years, in a move that threatens further loosening of fiscal policy.
Published 29 Jun, 2007 12:00am
Coal-to-liquid fuel needs kickstart

Coal-to-liquid fuel needs kickstart

A coal mining executive said on Tuesday it might take a terrorist attack or other crisis to provide the impetus for the United States to develop and invest more in technology to produce liquid fuel from coal.
Published 29 Jun, 2007 12:00am
Singapore shares rise

Singapore shares rise

Singapore share prices closed 0.93 percent higher on Thursday after four days of losses, amid caution before the close of the US Federal Reserve policymakers' meeting, dealers said. The Straits Times Index closed up 32.73 points at the day's high of 3,538
Published 29 Jun, 2007 12:00am
Nikkei ends four-day losing streak, Bridgestone up

Nikkei ends four-day losing streak, Bridgestone up

The Nikkei share average rose for the first time in five sessions on Thursday, gaining 0.46 percent as tyre makers surged after Bridgestone Corp lifted its earnings outlook and exporters such as Honda Motor Co Ltd benefited from easing concerns about the
Published 29 Jun, 2007 12:00am
Jakarta shares weaken

Jakarta shares weaken

Jakarta share prices closed 0.59 percent lower on Thursday for a second straight day of losses as investors continued to take profit in big caps that had seen recent gains, dealers said. They said trade turned thin and cautious as players await the outcom
Published 29 Jun, 2007 12:00am
Thai share prices up

Thai share prices up

Thai share prices closed 0.87 percent higher on Thursday in line with regional markets amid cautious trading ahead of the US Federal Reserve announcement on interest rates, dealers said. The Stock Exchange of Thailand (SET) composite index rose 6.68 point
Published 29 Jun, 2007 12:00am
Indian shares rise

Indian shares rise

Indian share prices rose 0.51 percent on Thursday with select buying as global markets improved ahead of the latest US Federal Reserve Bank statement on monetary policy, dealers said.
Published 29 Jun, 2007 12:00am
Malaysian shares dip

Malaysian shares dip

Malaysian share prices closed 0.49 percent lower on Thursday as investors continue to trim holdings ahead of the US Federal Reserve announcement on interest rates, dealers said. The Kuala Lumpur Composite Index closed down 6.71 points at 1,350.72, off a l
Published 29 Jun, 2007 12:00am
Chinese shares plunge four percent

Chinese shares plunge four percent

Chinese stocks tumbled 4.03 percent on Thursday out of concern that large sales of government bonds later this year could suck funds from the market, and on fears the central bank might soon hike interest rates.
Published 29 Jun, 2007 12:00am
US Treasury prices sag

US Treasury prices sag

US Treasuries turned lower on Wednesday after a late rally in stocks lured investors out of bonds, despite a solid auction and weak durable goods figures. The market began to waver as soon as equities gained traction. As the rise in stocks grew in convict
Published 29 Jun, 2007 12:00am
US Treasury prices sag

US Treasury prices sag

US Treasuries turned lower on Wednesday after a late rally in stocks lured investors out of bonds, despite a solid auction and weak durable goods figures. The market began to waver as soon as equities gained traction. As the rise in stocks grew in convict
Published 29 Jun, 2007 12:00am
US stocks surge, finish three-day bearish spell

US stocks surge, finish three-day bearish spell

US stocks rose on Wednesday as investors snapped up beaten-down shares after a three-day slide and a nearly 2 percent jump in oil prices boosted demand for energy companies. Major indexes had fallen earlier in the day after weaker-than-expected durable go
Published 29 Jun, 2007 12:00am
China Mobile leads Hong Kong shares

China Mobile leads Hong Kong shares

Hong Kong stocks snapped a three-day losing streak to end 1.1 percent higher on Thursday, tracking a rebound in US equities and helped by an easing yen, with mainland oil producers leading a recovery in Chinese large-caps.
Published 29 Jun, 2007 12:00am
Philippines shares close 1.6 percent higher

Philippines shares close 1.6 percent higher

Philippines share prices closed 1.6 percent higher on Thursday, lifted by the rebound on Wall Street overnight ahead of the Federal Reserve's decision on interest rates, dealers said.
Published 29 Jun, 2007 12:00am
Taiwan stocks soar on Wall Street

Taiwan stocks soar on Wall Street

Taiwan stocks rose 0.55 percent on Thursday, led by tech heavyweights like TSMC after a rally on Wall Street and after a report that Taiwan's retirement funds could pour up to US $7.32 billion into stock investments.
Published 29 Jun, 2007 12:00am
Malaysian palm oil jumps on Indonesia tax plan

Malaysian palm oil jumps on Indonesia tax plan

Malaysian crude palm oil futures rose 2.1 percent on Thursday, reversing more than a week of losses as Indonesia's decision to maintain an export tax on palm oil products for the next few months boosted the market.
Published 29 Jun, 2007 12:00am
Tokyo rubber rebounds

Tokyo rubber rebounds

Tokyo rubber futures edged up on Thursday due to gains in other yen-based commodities, including energy, and after sustaining a key chart level the previous day, but sentiment stayed weak after sharp falls since last week.
Published 29 Jun, 2007 12:00am
Malaysia aims to triple cocoa output by 2015

Malaysia aims to triple cocoa output by 2015

Malaysia aims to triple its cocoa output to 100,000 tonnes by 2015 from around 32,000 tonnes in 2007 to meet demand from the country's grinding sector, a senior industry official said on Thursday.
Published 29 Jun, 2007 12:00am
Soyabeans lower as wheat and corn fade

Soyabeans lower as wheat and corn fade

The Chicago Board of Trade soyabean market ended lower on Wednesday, caught following the moves in wheat and corn after weeks of volatility, traders said. Soyabeans were firm on slipover buying from wheat when that market hit an 11-year high amid global s
Published 29 Jun, 2007 12:00am
New York sugar futures slip in quiet dealings

New York sugar futures slip in quiet dealings

Raw sugar futures settled mostly lower on Wednesday, correcting from Tuesday's hike while position rolling out of July into September ahead of the front-month's on Friday expiration remained the main feature, brokers said.
Published 29 Jun, 2007 12:00am
Indian sugar easier

Indian sugar easier

Indian sugar futures shed more than 0.5 percent on Thursday as traders locked in profits after they had climbed nearly 2 percent in two days, but analysts said they expected prices to stay firm in the short term.
Published 29 Jun, 2007 12:00am
South Korea feed makers seek corn and soyameal

South Korea feed makers seek corn and soyameal

The Korea Feed Association has issued a tender to buy 110,000 tonnes of corn and 55,000 tonnes of soyameal, traders said on Thursday. The tender would close at 5 pm (0800 GMT) on Friday.
Published 29 Jun, 2007 12:00am
Shanghai copper up 1.4 percent

Shanghai copper up 1.4 percent

Shanghai copper rallied 1.4 percent on Thursday, lifted by a wave of strikes and strike threats at major producers after falling by its 4-percent daily limit in the previous session.
Published 29 Jun, 2007 12:00am
Malaysian tin dips

Malaysian tin dips

Malaysian tin slipped on Thursday due to a technical correction over London Metal Exchange prices but losses were limited by strong Japanese demand, one dealer said.
Published 29 Jun, 2007 12:00am
Oil inches up after fall in US fuel stocks

Oil inches up after fall in US fuel stocks

Oil edged further above $70 a barrel on Thursday, as US gasoline inventories fell against expectations during the peak-summer driving season, while swelling crude stock levels limited the upside.
Published 29 Jun, 2007 12:00am
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