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Archive - 2007-07-05
SBP employees' donation to flood relief fund

SBP employees' donation to flood relief fund

State Bank of Pakistan has announced to donate one-day salary in President's Relief Fund for Flood Victims. SBP Governor Dr Shamshad Akhtar has said that all employees of SBP and its two subsidiaries - the SBP Banking Services Corporation (SBPBSC) and the
Published 05 Jul, 2007 12:00am
Siddiqui and Albaraka dispute settled

Siddiqui and Albaraka dispute settled

The Sidduqui family and Albaraka companies have settled their disputes through the court, and a consent decree has been passed. In an information, sent to the Karachi Stock Exchange (KSE), it was said that Jahangir Siddiqui and his family (hereinafter col
Published 05 Jul, 2007 12:00am
Development without harming environment stressed

Development without harming environment stressed

Business community should achieve economic and social development without harming the environment and natural resources. This was observed by speakers at "the fourth annual excellence awards for companies, journalists," organised by the National Forum for
Published 05 Jul, 2007 12:00am
Security beefed up in Rawalpindi

Security beefed up in Rawalpindi

The Punjab government has put police and other law-enforcement agencies on high alert after attack on the Lal Masjid and all regional police officers were also asked to ensure fool-proof security in their areas.
Published 05 Jul, 2007 12:00am
Banks adopting Contact Centre technology for better client service

Banks adopting Contact Centre technology for better client service

In order to deliver total satisfaction to customers, banks are choosing next generation open standards-based Contact Centre technology, that provides maximum flexibility, cost-effective approach, and full integration capabilities.
Published 05 Jul, 2007 12:00am
Pakistan and Malaysia to start seven flights a week

Pakistan and Malaysia to start seven flights a week

Pakistan and Malaysia on Wednesday agreed to enhance air communication between the two countries and decided to start seven flights a week each. Two sides have inked an agreement to enhance air communication. Shahidullah Baig, Joint Secretary Ministry of
Published 05 Jul, 2007 12:00am
Government policies boosting rural economy, says Elahi

Government policies boosting rural economy, says Elahi

Punjab Chief Minister, Chaudhry Pervaiz Elahi has said that relations between Pakistan and Norway in education, health, culture, telecom and other sectors were based on sound foundations. He was talking to out-going Norwegian Ambassador to Pakistan Janis
Published 05 Jul, 2007 12:00am
BoP sign MoU with PEL

BoP sign MoU with PEL

Bank of Punjab (BoP) has signed MoU with PEL to provide personal loan facility to customers for the purchase of power generators of 05 KV for their home and office use on easy instalments.
Published 05 Jul, 2007 12:00am
Children summer camp concludes

Children summer camp concludes

The Colourful Children Summer Camp at the Serena Hotel concluded here Wednesday, which was arranged for children's participating in healthy activities and enhancing their competitive spirit.
Published 05 Jul, 2007 12:00am
Tevta approves 53 technical curricula

Tevta approves 53 technical curricula

Provincial Academic Committee of Technical Education & Vocational Training Authority (Tevta) approved 53 different Curricula in Technical & Vocational Education Training (TVET) in its third meeting held at Tevta Secretariat.
Published 05 Jul, 2007 12:00am
Doctors offered loans to set up clinics

Doctors offered loans to set up clinics

Punjab Health Foundation (PHF) is providing loans to private practitioners for establishment of their clinics and purchase of equipment. This facility is also available to set up new clinics as well as upgrading already established clinics/hospitals.
Published 05 Jul, 2007 12:00am
Rs 129.391 million allocated for special children centre

Rs 129.391 million allocated for special children centre

A recreational centre for special children in children library complex, comprising academic block and hostel, at the government college of Education for Science was being constructed with the cost of Rs 129.391 million.
Published 05 Jul, 2007 12:00am
LHC bar member's plea

LHC bar member's plea

A member of the Lahore High Court Bar Association has approached the Lahore High Court with prayer to declare holding of the posts of President and Chief of Army Staff by one person as illegal and unconstitutional. He prayed to the court to direct the res
Published 05 Jul, 2007 12:00am
PSMA emergency meeting today

PSMA emergency meeting today

Pakistan Sugar Mills Association (PSMA), Punjab Zone, has called an emergency meeting of its members on Thursday, July 5, to discuss ongoing sugar crisis. It will be presided over by PSMA Chairman Zaka Ashraf.
Published 05 Jul, 2007 12:00am
Aurakzai assures gas facility to Hangu

Aurakzai assures gas facility to Hangu

The NWFP Governor Ali Mohammad Jan Aurakzai has assured that provision of natural gas facility to district Hangu has been principally approved. Talking to a 13-member representative delegation from Kotki Bala area of District Hangu that called on him, the
Published 05 Jul, 2007 12:00am
ADB approves change to strengthen research institutes in South Asia

ADB approves change to strengthen research institutes in South Asia

Asian Development Bank (ADB) has approved a major change in scope to cover the additional inputs of $50,000 equivalent from ADB's TA funding programme to promote regional cooperation in South Asia, including Pakistan by strengthening the current initiativ
Published 05 Jul, 2007 12:00am
AVM Hifazat promoted as Air Marshal

AVM Hifazat promoted as Air Marshal

The government has promoted Air Vice Marshal Hifazat Ullah Khan to the rank of Air Marshal, said press release of Directorate of Media Affairs of PAF here on Wednesday. Air Marshal Hifazat Ullah Khan was commissioned in General Duties (Pilot) branch of PA
Published 05 Jul, 2007 12:00am
PML to hold mass contact drive

PML to hold mass contact drive

In an attempt to mobilise people across the country ahead of the general elections, the ruling Pakistan Muslim League (Q) has drawn up a comprehensive mass-contact campaign. The provincial wings of the PML-Q will hold conventions in all the four provinces
Published 05 Jul, 2007 12:00am
Civil defence in Kasur in quandary

Civil defence in Kasur in quandary

The local civil defence office is in complete quandary and is not alive to one of its basic objectives of providing fire-fighting training to government workers to meet emergency.
Published 05 Jul, 2007 12:00am
Higher electronic laboratories set up at LCWU

Higher electronic laboratories set up at LCWU

With a view to help develop international collaboration with Asian Institute of Technology, Higher Electronic Laboratories have been established at Lahore College for Women University (LCWU). According to a spokesman of LCWU, Higher Education Commission (
Published 05 Jul, 2007 12:00am
Indus and Ravi rivers in low flood

Indus and Ravi rivers in low flood

River Indus at Chashma, Taunsa and Guddu, and River Ravi at Balloki are in low flood. According to the Flood Forecasting Division report, Indus tributaries in the NWFP ie Kabul River at Nowshera and Adezai Bridge, Swat River at Khuza Khela, Naguman River
Published 05 Jul, 2007 12:00am
Promoted

Promoted

On the recommendations of Departmental Promotion Committee of Forestry, Wildlife & Fisheries Department Punjab, 18 Assistant Warden Fisheries/ Fisheries Research Assistants and Fisheries Development Assistants have been promoted as Assistant Director Fish
Published 05 Jul, 2007 12:00am
Rise in furnace oil prices

Rise in furnace oil prices

The local oil marketing companies have increased furnace oil price in the domestic market on five different occasions over the past four months, which has pushed up the price to an all-time high of Rs 26,745 per ton, says a Recorder Report.
Published 05 Jul, 2007 12:00am
The darker side

The darker side

As people of Pakistan anxiously await the result of the government reference against the Chief Justice of Pakistan, a darker side of the manoeuvre has come to light, which strongly suggests that not only the case against the top judge was prepared in grea
Published 05 Jul, 2007 12:00am
India's silk sari-weavers face bleak and hungry future

India's silk sari-weavers face bleak and hungry future

Shiwajatan Rajbhar spends his days weaving golden and silver flowers across exquisite silk saris on a rickety handloom in his mud hut. Once completed, the handloom sari -- traditionally a prized part of any Indian bride's trousseau -- will be sold for man
Published 05 Jul, 2007 12:00am
Cargo services: a clarification

Cargo services: a clarification

This has reference to Mr Shazad Khalil's letter published in Business Recorder titled "Poor Air Cargo services" dated 21 June 2007. To cater to the demand of upcountry export markets.
Published 05 Jul, 2007 12:00am
Well done

Well done

City Nazim Syed Mustafa Kamal has done what hardly could be imagined during the devastating monsoon rains. Heavy winds claimed at least 87 lives in the city. Since the rains have ruined Karachi, Kamal rapidly moved and was seen all round with his helping
Published 05 Jul, 2007 12:00am
Revenue staff leave cancelled

Revenue staff leave cancelled

Sindh Revenue Minister Dr Irfan Gul Magsi has cancelled leave of all revenue officials, including Mukhtarkars and other staff. A decision in this regard was taken in a meeting held under his chairmanship on Tuesday on his return here from a detailed visit
Published 05 Jul, 2007 12:00am
Minister assures to provide electricity and gas facility to all

Minister assures to provide electricity and gas facility to all

Federal Minister for Political Affairs and provincial chief of PML Amir Muqam has reiterated the government resolve to electricity and provide Sui gas facility to every nook and corner of the country. This he said while talking to various delegations that
Published 05 Jul, 2007 12:00am
Rs 4,357,190,444 million Khairpur budget approved

Rs 4,357,190,444 million Khairpur budget approved

The District Council Khairpur passed a budget of Rs 4,357,190,444 million for the district for the year 2007-08 on Wednesday. Zila Nazim Khairpur, Pir Niaz Shah Jillani, presenting the budget during the budget session, said the total receipts were worth R
Published 05 Jul, 2007 12:00am
Rs 4,357,190,444 million Khairpur budget approved

Rs 4,357,190,444 million Khairpur budget approved

The District Council Khairpur passed a budget of Rs 4,357,190,444 million for the district for the year 2007-08 on Wednesday. Zila Nazim Khairpur, Pir Niaz Shah Jillani, presenting the budget during the budget session, said the total receipts were worth R
Published 05 Jul, 2007 12:00am
KBCA declares 'Friends Square' dangerous

KBCA declares 'Friends Square' dangerous

The Karachi Building Control Authority (KBCA) has declared Friends Square building in Malir town dangerous and issued notice to its residents to vacate the building.
Published 05 Jul, 2007 12:00am
Gold edges higher

Gold edges higher

Gold edged higher on Wednesday to trade just above a key level of $650 an ounce, but business was very low key because of a holiday in the United States. Spot gold was quoted at $654.40/655.20 an ounce as of 1429 GMT, compared with $652.70/653.50 in New Y
Published 05 Jul, 2007 12:00am
Copper sees fresh seven-week high

Copper sees fresh seven-week high

Copper touched a new seven-week peak on Wednesday as the market fretted about strike threats, while lead hit a new record high for the third day running as speculators bet on tight supplies. Copper for delivery in three months on the London Metal Exchange
Published 05 Jul, 2007 12:00am
London cocoa eyes recent highs

London cocoa eyes recent highs

London robusta coffee and cocoa futures posted solid gains on Wednesday, moving back towards recent multi-year highs despite the closure of US markets, which kept volumes limited, traders said. Sugar prices also firmed, within their recent range, supporte
Published 05 Jul, 2007 12:00am
Med Crude-Urals bid up for end-July

Med Crude-Urals bid up for end-July

Urals crude was bid higher for loading at the end of July on Wednesday while two sellers offered earlier-loading cargoes at lower levels. Also on Wednesday, Saudi Arabia raised its official selling prices for crude in Europe in August, potentially lending
Published 05 Jul, 2007 12:00am
Physical sugar shipments to Russia

Physical sugar shipments to Russia

Raw sugar shipments to Russia are flowing steadily and market sources on Wednesday noted Iraqi enquiries to buy refined sugar and freight enquiries to move raw sugar to Iran. A freight broker reported enquiries from several merchants to ship routine volum
Published 05 Jul, 2007 12:00am
Oil sets 10-month high above $73

Oil sets 10-month high above $73

Oil set a 10-month high above $73 a barrel on Wednesday, supported by low US fuel inventories and expectations of strong gasoline demand in the world's top consumer. US gasoline inventories, which remain below those of a year earlier, probably rose by jus
Published 05 Jul, 2007 12:00am
WCE canola ends lower

WCE canola ends lower

Winnipeg Commodity Exchange canola futures settled lower on Wednesday in thin trade on light hedges and good crop ratings, traders said. Canola ended 70 cents to $2.30 per tonne lower, with July down 70 cents at $378.90, November down $2.30 at $398.90 and
Published 05 Jul, 2007 12:00am
FTSE gains as Hilton deal boosts hotels

FTSE gains as Hilton deal boosts hotels

Britain's leading share index had edged higher by midday on Wednesday, led by hotel groups after Blackstone agreed to buy Hilton, but overall activity was thin as US markets are closed for a holiday and investors await an interest rate decision on Thursda
Published 05 Jul, 2007 12:00am
Seoul shares rally to record

Seoul shares rally to record

Seoul shares rose to a record on Wednesday as Hynix surged on a report predicting a gain in DRAM contract prices, while lenders such as Woori rallied after ratings agency Moody's said it may upgrade their debt ratings. A new month has brought new confiden
Published 05 Jul, 2007 12:00am
Chinese shares hit one-month closing low

Chinese shares hit one-month closing low

Chinese stock market fell more than 2 percent on Wednesday to its lowest close in nearly one month, weighed down by lingering worries about credit tightening and an increased supply of new shares. The Shanghai Composite Index ended 2.14 percent lower at 3
Published 05 Jul, 2007 12:00am
Bonds fall in quiet trade, look to ECB decision

Bonds fall in quiet trade, look to ECB decision

Euro zone government bonds fell on Wednesday, as firmer stock markets usurped investors' attention and a forthcoming European Central Bank rate decision diverted focus away from UK security concerns. Trade was limited to a narrow range in thin volumes wit
Published 05 Jul, 2007 12:00am
Bonds fall in quiet trade, look to ECB decision

Bonds fall in quiet trade, look to ECB decision

Euro zone government bonds fell on Wednesday, as firmer stock markets usurped investors' attention and a forthcoming European Central Bank rate decision diverted focus away from UK security concerns. Trade was limited to a narrow range in thin volumes wit
Published 05 Jul, 2007 12:00am
Sterling scales highest level

Sterling scales highest level

Sterling jumped to a 26-year high versus the dollar for a third day on Wednesday, vaulting $2.02 and showing no signs of vertigo so far against a broadly weak dollar that stayed near record lows versus the euro.
Published 05 Jul, 2007 12:00am
Indian rupee high

Indian rupee high

The rupee ended at its strongest close in nine years on Wednesday, boosted by foreign buying of stocks, but gains were capped as the central bank and oil companies bought dollars, dealers said. The partially convertible rupee ended at 40.450/455 per dolla
Published 05 Jul, 2007 12:00am
Abbas again rejects talks with Hamas

Abbas again rejects talks with Hamas

Palestinian president Mahmud Abbas Wednesday again ruled out any dialogue with the rival Hamas movement after its "putsch" in the Gaza Strip. "What Hamas did is a crime against the nation and a military putsch and those responsible for these actions are t
Published 05 Jul, 2007 12:00am
'Iran ready for more US talks'

'Iran ready for more US talks'

Iran would be available to hold further talks with the United States over the issue of Iraq, Iranian Deputy Foreign Minister Abbas Araghchi said on Wednesday during a visit to South Africa.
Published 05 Jul, 2007 12:00am
Russia threatens European rocket deployment

Russia threatens European rocket deployment

Russia issued a veiled threat on Wednesday to deploy rockets in its Kaliningrad enclave bordering the European Union if the United States built a missile defence shield in central Europe. Moscow and Washington are locked in a stand-off over the US plans f
Published 05 Jul, 2007 12:00am
Japan's first female defence minister eyes close US ties

Japan's first female defence minister eyes close US ties

Japan's first female defence minister vowed on Wednesday to strengthen ties with Tokyo's close security ally, the United States, and improve working conditions for women in the nation's military. Yuriko Koike, a former national security adviser, took over
Published 05 Jul, 2007 12:00am
Three admit online terror charges at London court

Three admit online terror charges at London court

Three men have admitted using the Internet to urge Muslims to wage holy war on non-believers, police said Wednesday, in what is believed to the first prosecution of its kind in Britain. Tariq Al-Daour, Younes Tsouli and Waseem Mughal had close links with
Published 05 Jul, 2007 12:00am
Three Islamists killed in Lebanon

Three Islamists killed in Lebanon

Three Islamist fighters were killed as the Lebanese army repulsed an attack inside a Palestinian camp in northern Lebanon, security sources said on Wednesday. A correspondent at the scene, meanwhile, reported renewed exchanges of gunfire between the army
Published 05 Jul, 2007 12:00am
Six Nato soldiers, Afghan killed in bomb blast

Six Nato soldiers, Afghan killed in bomb blast

Six soldiers with the Nato-led force and their Afghan interpreter were killed Wednesday when their vehicle struck a bomb in southern Afghanistan, the force said. The 37-nation International Security Assistance Force did not release the nationalities of th
Published 05 Jul, 2007 12:00am
Former Bangladeshi minister gets 13 years for graft

Former Bangladeshi minister gets 13 years for graft

A special anti-corruption court on Wednesday jailed a former Bangladesh minister to 13 years for amassing a multi-million dollar fortune illegally, an official said. Mir Mohammad Nasiruddin, a junior aviation and tourism minister in the country's most rec
Published 05 Jul, 2007 12:00am
35 militants killed in Iraq assaults

35 militants killed in Iraq assaults

US forces backed by warplanes have killed 35 militants, including 25 in a three-day operation near the restive city of Baquba in the heart of the most dangerous region in Iraq after Baghdad. The operation took place near the town of Mukhisa, northeast of
Published 05 Jul, 2007 12:00am
Brown signals no change on Iraq and Afghanistan

Brown signals no change on Iraq and Afghanistan

British Prime Minister Gordon Brown signalled Wednesday there would be no change of policy on Iraq and Afghanistan and no rush to withdraw troops. Brown warned it would be wrong to set a timetable for pulling forces out of Iraq, where Britain is waiting f
Published 05 Jul, 2007 12:00am
Suicide bombers, not fighters main threat: US

Suicide bombers, not fighters main threat: US

The United States sees suicide bombers in Afghanistan as a greater threat than any organised summer offensive by the Taliban, which has been weakened by the loss of key commanders, a US official said on Wednesday.
Published 05 Jul, 2007 12:00am
Bush makes plea for patience on Iraq

Bush makes plea for patience on Iraq

US President George W. Bush, trying to tap into Independence Day patriotism to rally support for an unpopular war, appealed on Wednesday for American patience and resolve in Iraq. In a Fourth of July holiday speech at a West Virginia Air National Guard ba
Published 05 Jul, 2007 12:00am
US Democrats stack campaign cash as Republicans lag

US Democrats stack campaign cash as Republicans lag

Democratic White House hopefuls have opened a record fundraising gap of tens of millions of dollars over Republicans, setting the 2008 race on course to become the first billion dollar US election. Top Democrats Barack Obama and Hillary Clinton are rewrit
Published 05 Jul, 2007 12:00am
England win toss and field against West Indies

England win toss and field against West Indies

England captain Paul Collingwood won the toss and elected to field in the second one-day international against the West Indies at Edgbaston here Wednesday. England made two changes from the team that won Sunday's series opener at Lord's by 79 runs.
Published 05 Jul, 2007 12:00am
Casey and Westwood out of European Open

Casey and Westwood out of European Open

English Ryder Cup pair Paul Casey and Lee Westwood on Wednesday withdrew from the European Open through injury. Casey, who lies sixth in the European Tour Order of Merit, stepped out of the tournament, which starts on Thursday, suffering from a bruised mu
Published 05 Jul, 2007 12:00am
Sri Lanka eye big win after Sangakkara's double ton

Sri Lanka eye big win after Sangakkara's double ton

Kumar Sangakkara hit 200 not out as ruthless Sri Lanka set themselves up for another massive victory over Bangladesh in the second cricket Test here on Wednesday. Sri Lankan captain Mahela Jayawardene declared his team's first innings at 451-6 soon after
Published 05 Jul, 2007 12:00am
Venus overpowers Sharapova

Venus overpowers Sharapova

Venus Williams stayed on course for a fourth Wimbledon crown when she breathtakingly demolished Maria Sharapova 6-1, 6-3 in a brutal fourth round triumph on Wednesday. Williams, the champion in 2000, 2001 and 2005, overpowered the Russian second seed, the
Published 05 Jul, 2007 12:00am
Leaked Ferrari data not used: McLaren

Leaked Ferrari data not used: McLaren

Formula One leaders McLaren reassured Ferrari on Wednesday that they had not used any leaked technical information from their rivals to design their own race-winning cars. The Mercedes-powered team have suspended a senior employee, identified in Italian a
Published 05 Jul, 2007 12:00am
Sania and Peer out of Wimbledon

Sania and Peer out of Wimbledon

India's Sania Mirza and Shahar Peer of Israel were knocked out of the Wimbledon women's doubles on Wednesday losing 6-0, 6-7 (4/7), 6-1 to top seeds Samantha Stosur and Lisa Raymond. Mirza, a Muslim, had caused controversy with her decision to team-up wit
Published 05 Jul, 2007 12:00am
Putin joins final push for 2014 Olympics

Putin joins final push for 2014 Olympics

President Vladimir Putin has plugged Russia's bid to host the 2014 Olympics in Sochi, saying his country wanted a chance to show it could stage a successful Winter Games. Putin said Russia, a leading Olympic medal-winning nation that has never hosted the
Published 05 Jul, 2007 12:00am
Stir crazy Roddick getting hotter

Stir crazy Roddick getting hotter

Andy Roddick overturned a 5-0 deficit in a third set tiebreak to beat France's Paul-Henri Mathieu and the weather on another rain-hit day at Wimbledon on Wednesday. The tiebreak turnaround enabled the American third seed to wrap up the fourth round match
Published 05 Jul, 2007 12:00am
Hong Kong dollar edges higher

Hong Kong dollar edges higher

The Hong Kong dollar edged higher on Wednesday but trading kept to a narrow range as market attention was fixed on short-dated interbank rates. The currency was trading at 7.8125/28 against the US dollar, having touched a one-week high of 7.8112, stronger
Published 05 Jul, 2007 12:00am
Philippine peso leads Asian currencies retreat

Philippine peso leads Asian currencies retreat

The Philippine peso shed half a percent against the dollar on Wednesday and other Asian currencies gave up some of last week's gains with the US market closed for a holiday and interest rate decisions in Europe ahead. The Thai baht bucked the trend, prope
Published 05 Jul, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 68.70/68.76 (previous 68.74/68.85). Call Money Rates: 6.50-10.25 percent (previous 6.50-10.25 percent.
Published 05 Jul, 2007 12:00am
Dollar steady before holiday

Dollar steady before holiday

The dollar rebounded on Tuesday but remained near a record low against the euro as investors eyed central bank meetings this week in Europe which could kkeep overseas yields climbing. The dollar rose against a basket of six major currencies, steadying aft
Published 05 Jul, 2007 12:00am
Dollar near 26-year low

Dollar near 26-year low

The dollar held near a 26-year low against the pound on Wednesday and a two-month trough versus the euro, with trade quiet around the US Independence Day holiday as investors awaited key central bank verdicts later this week.
Published 05 Jul, 2007 12:00am
Yuan ends down

Yuan ends down

China's yuan closed slightly lower against the dollar on Wednesday, guided by the central bank's weaker mid-point and stabilising after climbing to post-revaluation highs for three consecutive sessions.
Published 05 Jul, 2007 12:00am
Swiss franc little changed

Swiss franc little changed

The Swiss franc was little changed against the euro and dollar in early trading on Wednesday as traders chewed over inflation data that all but snuffs out chances of quicker monetary tightening. The annual inflation rate inched up to 0.6 percent in June,
Published 05 Jul, 2007 12:00am
Philippines shares weaken

Philippines shares weaken

Philippines share prices closed 0.54 percent lower on Wednesday as investors took profits on the latest record breaking advance, dealers said. The composite index fell 20.33 points to 3,731.66, off its day-high of 3,759.29.
Published 05 Jul, 2007 12:00am
Tokyo stocks continue to move upward

Tokyo stocks continue to move upward

The Nikkei share average inched to its fifth straight advance on Wednesday as Mitsumi Electric Co Ltd and other technology stocks followed a rise in similar US firms. Overall gains were meagre, however, due to slow trade. Volume on the exchange's first se
Published 05 Jul, 2007 12:00am
Thai share prices rally

Thai share prices rally

Thai share prices closed 1.47 percent higher on Wednesday, hitting a fresh 10-year high as foreign investors continued to pour money into the market, dealers said. They said foreign investors were buying stocks around the region in a buying spree sparked
Published 05 Jul, 2007 12:00am
Taiwan stocks jump

Taiwan stocks jump

Taiwan stocks rose 0.81 percent on Wednesday to their highest close in seven years, led by gains in firms such as Tatung that rely on domestic consumption and have large land assets amid recent gains in the local dollar. The main TAIEX ended up 72.78 poin
Published 05 Jul, 2007 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices closed 0.41 percent lower on Wednesday as investors consolidated positions in the absence of fresh domestic leads, dealers said. They said that with valuations already looking expensive, investors were reluctant to buy blue chips. T
Published 05 Jul, 2007 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasuries fell in holiday-thinned trade on Tuesday as a firm stock market and surprisingly strong factory orders offset weak data on housing and any lingering safe-haven bid on global security concerns. Bonds briefly trimmed their losses after a repor
Published 05 Jul, 2007 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasuries fell in holiday-thinned trade on Tuesday as a firm stock market and surprisingly strong factory orders offset weak data on housing and any lingering safe-haven bid on global security concerns. Bonds briefly trimmed their losses after a repor
Published 05 Jul, 2007 12:00am
Indian shares at record high

Indian shares at record high

Indian share prices closed at a new record high on Wednesday, gaining for five straight days, on expectations of positive first quarter earnings from companies, dealers said. They said buying sentiment continued to be strong on the fading of global and do
Published 05 Jul, 2007 12:00am
US stocks finish firmer on Apple, M&A

US stocks finish firmer on Apple, M&A

US stocks gained in a holiday-shortened session on Tuesday, lifted by fresh take-over talk and after a report suggesting Apple Inc will generate fat profit margins on its iPhone. Deal news again contributed to the gains.
Published 05 Jul, 2007 12:00am
Hong Kong shares close higher

Hong Kong shares close higher

Hong Kong stocks rose 0.3 percent on Wednesday, as bourse operator Hong Kong Exchanges and Clearing Ltd shot up amid strong trading volumes and advancing crude prices lifted oil issues. The debut by China High Speed Transmission Equipment Group Co Ltd.
Published 05 Jul, 2007 12:00am
Malaysian shares make little gains

Malaysian shares make little gains

Malaysian share prices closed 0.29 percent higher on Wednesday for the fourth straight day due to buying interest in construction, property and plantation stocks, dealers said. They, however, said late profit-taking in some big-cap stocks limited the key
Published 05 Jul, 2007 12:00am
Jakarta main index marks new record

Jakarta main index marks new record

Jakarta share prices closed 0.32 percent higher on Wednesday, with the main index finishing at a new record, driven by gains in heavyweight Telkom and its rival Indosat, dealers said. They said the upside however was limited by sharp losses in gas distrib
Published 05 Jul, 2007 12:00am
Cyprus unveils package to close wealth gap

Cyprus unveils package to close wealth gap

The Cyprus government on Wednesday announced a wide-ranging 100 million pound benefits and tax relief package aimed at improving living standards and closing the gap between rich and poor. President Tassos Papadopoulos said the package, equivalent to $233
Published 05 Jul, 2007 12:00am
EU fines Spanish telecom group 151 million euros

EU fines Spanish telecom group 151 million euros

EU antitrust regulators on Wednesday slapped a 151.9-million-euro fine on Spanish operator Telefonica in a crackdown on uncompetitive practices in Europe's communications market. EU Competition Commissioner Neelie Kroes said she was imposing the fine, wor
Published 05 Jul, 2007 12:00am
World grain output, trade to rebound in 2007-2016

World grain output, trade to rebound in 2007-2016

World grain output will likely rise in the next decade as producers are encouraged by soaring prices around the globe and developing countries try to answer increasing food needs, a major study said on Wednesday.
Published 05 Jul, 2007 12:00am
Iraqi Kurds, Sunnis complain about new oil law

Iraqi Kurds, Sunnis complain about new oil law

Iraq's Kurdish and Sunni leaders on Wednesday complained they were being kept in the dark over oil legislation set to go before parliament, saying they had not seen the final bill approved by cabinet.
Published 05 Jul, 2007 12:00am
South Korea to start shipping oil to North

South Korea to start shipping oil to North

South Korea will start shipping oil to North Korea next week, an official said on Wednesday, a day after UN nuclear inspectors said the reclusive state had agreed to steps verifying a shutdown of its atom bomb programme.
Published 05 Jul, 2007 12:00am
ECB set to hold rates steady for September hike

ECB set to hold rates steady for September hike

The European Central Bank is unanimously expected to hold its key interest rates steady this week, just a month after raising them to a five-and-a-half-year high in June, analysts said on Wednesday.
Published 05 Jul, 2007 12:00am
Blackstone to buy Hilton Corporation for $26 billion

Blackstone to buy Hilton Corporation for $26 billion

Private equity giant Blackstone Group will buy Hilton Hotels Corporation in an all-cash deal worth 26 billion dollars (19 billion euros), one of the largest such take-overs ever, the hotel chain said.
Published 05 Jul, 2007 12:00am
'Kuwaiti assets top $200 billion'

'Kuwaiti assets top $200 billion'

Financial assets of Opec member Kuwait had ballooned to 61.4 billion dinars (213 billion dollars) as at March 31, the largest in the oil-rich emirate's history, the finance minister said Wednesday.
Published 05 Jul, 2007 12:00am
First two Chinese city banks to launch domestic IPOs

First two Chinese city banks to launch domestic IPOs

Two Chinese city banks will soon become the first in a batch of smaller lenders to list on the domestic stock markets, state media said Wednesday. Bank of Nanjing and Bank of Ningbo, which released on Wednesday their prospectuses for selling shares on loc
Published 05 Jul, 2007 12:00am
First two Chinese city banks to launch domestic IPOs

First two Chinese city banks to launch domestic IPOs

Two Chinese city banks will soon become the first in a batch of smaller lenders to list on the domestic stock markets, state media said Wednesday. Bank of Nanjing and Bank of Ningbo, which released on Wednesday their prospectuses for selling shares on loc
Published 05 Jul, 2007 12:00am
Palestinians pay first full salaries in over a year

Palestinians pay first full salaries in over a year

Palestinian civil servants began receiving their first full salaries in 17 months on Wednesday, keen to start paying debts that piled up during a crushing Israeli economic boycott. Relieved Palestinians queued en masse outside banks, checking to see wheth
Published 05 Jul, 2007 12:00am
Biofuels to buoy farm prices in next decade: OECD/FAO

Biofuels to buoy farm prices in next decade: OECD/FAO

The rapid growth of the world's biofuel industry is likely to keep farm commodity prices at high levels in the next decade as it will boost demand for grains, oilseeds and sugar, a major study said on Wednesday.
Published 05 Jul, 2007 12:00am
Libya to open up gas fields

Libya to open up gas fields

Libya is to invite international tenders for exploration of its onshore and offshore natural gas reserves in the next few days, the north African country's oil supremo told AFP on Wednesday.
Published 05 Jul, 2007 12:00am
South Sudan spends $9.5 million to save biggest bank

South Sudan spends $9.5 million to save biggest bank

South Sudan has spent $9.5 million to bail out the autonomous region's biggest bank, privately owned Nile Commercial Bank Plc, after an ambitious expansion forced a restructuring.
Published 05 Jul, 2007 12:00am
Thailand adopts deficit budget

Thailand adopts deficit budget

Thailand's army-appointed parliament began a one-day debate on Wednesday on a 2007/08 deficit budget aimed at reversing a slowdown of economic growth and giving a hefty boost to defence spending.
Published 05 Jul, 2007 12:00am
Germany criticises new French budget plans

Germany criticises new French budget plans

German Finance Minister Peer Steinbrueck criticised new French budget plans on Wednesday, saying they appeared to call into question the European Union's Stability and Growth Pact.
Published 05 Jul, 2007 12:00am
Italy minister shares EU debt worries, vows progress

Italy minister shares EU debt worries, vows progress

Italian Economy Minister Tommaso Padoa-Schioppa said on Wednesday he shared EU concerns over Italy's high debt and need for pension reform, and vowed to push ahead with deficit-cutting measures.
Published 05 Jul, 2007 12:00am
'Mercedes sales down in June'

'Mercedes sales down in June'

German-US auto giant DaimlerChrysler said Wednesday that world-wide sales of its Mercedes brand cars declined in June as a result of a shake-up of the model portfolio of its ultra-compact Smart cars. DaimlerChrysler said in a statement it sold a total 117
Published 05 Jul, 2007 12:00am
Sarkozy's wife gives up credit card in spending row

Sarkozy's wife gives up credit card in spending row

Cecilia Sarkozy, the wife of the French head of state, has handed back her presidential credit card following questions over her right to tap state funds, a government spokesman said on Wednesday. Cecilia received the credit card in May to pay for officia
Published 05 Jul, 2007 12:00am
Blackberry coming to China

Blackberry coming to China

Research in Motion has obtained permission from Beijing to sell its popular Blackberry mobile email device in mainland China, the world's biggest cell phone market, media said Wednesday.
Published 05 Jul, 2007 12:00am
Brazil says Abbott to cut price of AIDS drug

Brazil says Abbott to cut price of AIDS drug

Brazil's health ministry said Wednesday that Abbott Laboratories agreed to cut the price of its Kaletra AIDS drug by 29.5 percent. The lower price for the drug, also known as lopinavir and ritonavir, will help Brazil supply free drugs for its AIDS treatme
Published 05 Jul, 2007 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures slipped 1.4 percent on Wednesday as prices of rival soybean oil declined and traders booked profits a day after the market surged on hopes of strong overseas buying. The benchmark September contract on the Bursa Malaysia D
Published 05 Jul, 2007 12:00am
Tokyo rubber extends gains

Tokyo rubber extends gains

Tokyo rubber futures were firmer on Wednesday, extending gains into the second day as buying continued near five-month lows. A rise in crude oil prices to a 10-month high-lent support to the Tokyo market. Higher oil usually encourages the use of natural r
Published 05 Jul, 2007 12:00am
CBOT rice soften

CBOT rice soften

Rough rice futures at the Chicago Board of Trade closed weaker on Tuesday as the market remains pressured by the government's bearish US acreage figure released on Friday, traders said. The US Agriculture Department raised its US rice-planting estimate to
Published 05 Jul, 2007 12:00am
Kenyan coffee prices down

Kenyan coffee prices down

Kenyan coffee prices were weaker at this week's auction with only a few lots attracting good prices and the rest suffering due to quality, exporters said on Wednesday. The average price for all lots at the auction fell to $90.21 per 50k-kg bag compared wi
Published 05 Jul, 2007 12:00am
Soyabeans end lower

Soyabeans end lower

Soyabean futures at the Chicago Board of Trade closed lower on Tuesday on a profit-taking setback after the rally that began on Friday in response to USA's bullish acreage figure, traders said. The soyabean market was due for an adjustment after climbing
Published 05 Jul, 2007 12:00am
New York sugar higher

New York sugar higher

Raw sugar futures closed firmer on Tuesday on modest speculative buying ahead of a brief break and brokers feel the lack of leads may keep the market pinned in a band the rest of the week. The market will be closed on Wednesday for US Independence Day. Tr
Published 05 Jul, 2007 12:00am
Indonesian palm oil down

Indonesian palm oil down

Indonesian palm oil prices fell on Wednesday, pressured by losses in neighbouring Malaysia and soft demand as a volatile market sapped buying interest. At a local auction in Medan, crude palm oil was sold at 6,836 rupiah ($0.759) a kilogram, down from 6,8
Published 05 Jul, 2007 12:00am
Indian soyoil drops

Indian soyoil drops

Indian soyoil futures eased more than 0.4 percent by Wednesday afternoon, tracking losses in Chicago Board of Trade and weakness in Malaysian palm oil futures. But the outlook remain positive on slower imports in July, high global prices and lower crushin
Published 05 Jul, 2007 12:00am
Australian wool poised to recover from drought

Australian wool poised to recover from drought

Recent rainfall and a strong Australian dollar are building a recovery for Australia's A$2.5 billion ($2.1 billion) a year wool export industry after the country's worst drought in 100 years, leading wool groups say.
Published 05 Jul, 2007 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin fell 0.7 percent on Wednesday, tracking lower prices of the London Metal Exchange but strong foreign demand limited losses, one dealer said.
Published 05 Jul, 2007 12:00am
Oil held below $73

Oil held below $73

Oil prices were little changed below $73 a barrel on Wednesday, hovering near their highest in 10 months amid expectations of strong summer gasoline demand and continued low inventory levels in the world's top consumer.
Published 05 Jul, 2007 12:00am
Indonesian cocoa prices rise

Indonesian cocoa prices rise

Indonesian cocoa bean prices rose this week, buoyed by gains in cocoa futures while rains in the country's cocoa-growing belt of Slaws island delayed bean delivery. Prices of Sulawesi's fair-average cocoa beans collected from farmers and merchants were qu
Published 05 Jul, 2007 12:00am
Gold rebounds, Tokyo futures track New York losses

Gold rebounds, Tokyo futures track New York losses

Gold bounced on Wednesday on bargain hunting, while Tokyo futures fell after rising to its best level in a week. Spot gold rose to $653.90/654.70 an ounce from $652.70/653.50 late in New York on Tuesday, when it dropped $4 as investors locked in profits a
Published 05 Jul, 2007 12:00am
US gold futures lower

US gold futures lower

US gold futures finished slightly lower in quiet preholiday trade on Tuesday, as investors locked in profits after on Monday's rally, but traders said prices should move higher in the near term supported by decent buying by funds and trades.
Published 05 Jul, 2007 12:00am
US copper up on strike threats

US copper up on strike threats

US copper futures closed at a new near-two month peak on Tuesday, with tight inventories in London and a potential strike at one of Chile's largest copper mines keeping this week's momentum buying alive, brokers said.
Published 05 Jul, 2007 12:00am
Shanghai copper gains

Shanghai copper gains

Shanghai copper rose for the sixth straight session on Wednesday, tracking a strike-fuelled resurgence in London futures. Shanghai September copper rose 0.6 percent or 370 yuan to 66,800 yuan ($8,798) a tonne after jumping by its 4 percent daily limit on
Published 05 Jul, 2007 12:00am
MGE spring wheat weaker

MGE spring wheat weaker

Spring wheat futures on the Minneapolis Grain Exchange closed lower on Tuesday, retreating from last week's multiyear highs on stable US spring wheat ratings and generally favourable weather, traders said. The US Department of Agriculture late Monday said
Published 05 Jul, 2007 12:00am
New York coffee down a shade

New York coffee down a shade

US arabica coffee ended modestly lower on Tuesday in quiet dealings ahead of the US holiday, pressured by harvest progress in top producer Brazil, traders said. "There was some follow-through short-covering buying coupled with some fund buying that helped
Published 05 Jul, 2007 12:00am
New York cocoa up

New York cocoa up

US open-outcry cocoa futures ended firm on Tuesday, on technical support amid quiet trade but failed to revisit Monday's 4-1/4-year highs, while ICE electronic dealings hit a contract high in early trade, dealers said. "(There was) a little pull back, we
Published 05 Jul, 2007 12:00am
US exporters sell wheat to Guatemala for 2007-08

US exporters sell wheat to Guatemala for 2007-08

Private exporters reported the sale of 105,900 tonnes of wheat to Guatemala for the 2007/08 marketing year, the US Agriculture Department said Monday. USDA said of total wheat, 42,700 tonnes are hard red winter, 38,900 tonnes are hard red spring, and 24,3
Published 05 Jul, 2007 12:00am
NYBoT cotton stocks rise

NYBoT cotton stocks rise

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of July 2 totalled 713,970 (480-lb) bales, from 708,557 bales the previous session. There were no bales issued, no bales were awaiting review
Published 05 Jul, 2007 12:00am
Masoor dal up by Rs 200 on grain market

Masoor dal up by Rs 200 on grain market

Slow business was seen on the grain market on Wednesday as supply position from the upcountry was tight due to transport as well as law and order situation, dealers said. On the cereal side, masoor dal picked up Rs 200 to Rs 4600 owing the short supply. W
Published 05 Jul, 2007 12:00am
Ginners not to lower prices on cotton market

Ginners not to lower prices on cotton market

Tight condition seen on the cotton market on Wednesday as ginners did not show flexibility in their in respect of prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2650. Some hundreds bales of cotton were so
Published 05 Jul, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December vaida was lower sharply on the forward cottonseed oilcake market on Wednesday, brokers said. The July vaida was unchanged at Rs 650.00 and closing was seen at the same level without any variation, they said.
Published 05 Jul, 2007 12:00am
CBoT wheat futures down

CBoT wheat futures down

Soft red winter wheat futures at the Chicago Board of Trade settled mostly lower on Tuesday in sympathy with steep declines in corn and soybeans, traders said. Continued profit-taking after the retreat from Friday's multiyear highs added pressure, along w
Published 05 Jul, 2007 12:00am
CBoT corn drops three percent

CBoT corn drops three percent

Corn futures at the Chicago Board of Trade fell over 3 percent to a fresh eight-month low on Tuesday with overall good crop weather in the US Midwest and spillover pressure from Friday's bearish US corn acreage report hitting the market, traders said.
Published 05 Jul, 2007 12:00am
Vietnam rice limit on new deals

Vietnam rice limit on new deals

Vietnam has limited new rice export contracts, turniing most buyers away and causing prices to ease slightly, traders said on Wednesday. The Vietnam Food Association, the industry body, told exporters last week it has stopped approving new contracts, a mu
Published 05 Jul, 2007 12:00am
US Midwest corn bids rise

US Midwest corn bids rise

Spot basis bids for corn rose at river locations around the US Midwest on Tuesday but held steady around the interior, grain dealers said. The river bids for corn were boosted by solid export demand. Cash bids for soyabeans were steady around the interior
Published 05 Jul, 2007 12:00am
Indian sugar exports seen back to normal

Indian sugar exports seen back to normal

Sugar exports from Mumbai, which have been disrupted by heavy rains, are expected to return to normal by the end of the week as consignments from mills across the country begin to reach ports, traders and millers said.
Published 05 Jul, 2007 12:00am
Kenyan tea prices mixed

Kenyan tea prices mixed

Kenyan tea prices were mixed at this week's auction, with some grades firming due to improved quality, traders said on Wednesday. The Mombasa-based Africa Tea Brokers (ATB) said 120,461 packages were offered for sale, with 10,202 packages unsold. At the p
Published 05 Jul, 2007 12:00am
KCBT wheat futures mixed

KCBT wheat futures mixed

Hard red winter wheat futures on the Kansas City Board of Trade ended mixed in light to moderate volume on Tuesday ahead of the market holiday in consolidation efforts after last week's rally to fresh 11-year highs, traders said.
Published 05 Jul, 2007 12:00am
EU wheat exports fall

EU wheat exports fall

French arable crop office ONIGC said on Wednesday it expected European Union wheat exports outside the bloc to fall to 8.5-9.5 million tonnes this season from 10.7 million in 2006/07 despite an expected rise in output.
Published 05 Jul, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 148,045 tonnes cargo including 114,497 tonnes import, 33,548 tonnes export cargo and 5,213 containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 05 Jul, 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 05 Jul, 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 05 Jul, 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 Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Burqa-clad Maulana Aziz held as over 1,200 students surrender

Burqa-clad Maulana Aziz held as over 1,200 students surrender

Security forces have arrested Lal Masjid chief administrator Maulana Abdul Aziz when he was trying to run away wearing burqa along with a group of veiled female students. However, over 1,200 male and female students surrendered, defusing a military operat
Published 05 Jul, 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 Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Burqa-clad Maulana Aziz held as over 1,200 students surrender

Burqa-clad Maulana Aziz held as over 1,200 students surrender

Security forces have arrested Lal Masjid chief administrator Maulana Abdul Aziz when he was trying to run away wearing burqa along with a group of veiled female students. However, over 1,200 male and female students surrendered, defusing a military operat
Published 05 Jul, 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 Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Tax contribution depicts 28 percent mismatch, says Yusuf

Tax contribution depicts 28 percent mismatch, says Yusuf

Central Board of Revenue (CBR) Chairman Abdullah Yusuf on Wednesday said that there has been 28 percent mismatch between the ways various sectors contribute towards GDP and taxes. Addressing the fifth anniversary gathering of Large Taxpayers Unit (LTU) Ka
Published 05 Jul, 2007 12:00am
Tax contribution depicts 28 percent mismatch, says Yusuf

Tax contribution depicts 28 percent mismatch, says Yusuf

Central Board of Revenue (CBR) Chairman Abdullah Yusuf on Wednesday said that there has been 28 percent mismatch between the ways various sectors contribute towards GDP and taxes. Addressing the fifth anniversary gathering of Large Taxpayers Unit (LTU) Ka
Published 05 Jul, 2007 12:00am
Tax contribution depicts 28 percent mismatch, says Yusuf

Tax contribution depicts 28 percent mismatch, says Yusuf

Central Board of Revenue (CBR) Chairman Abdullah Yusuf on Wednesday said that there has been 28 percent mismatch between the ways various sectors contribute towards GDP and taxes. Addressing the fifth anniversary gathering of Large Taxpayers Unit (LTU) Ka
Published 05 Jul, 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 Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
OMCs demand interest on bank rates to cut losses

OMCs demand interest on bank rates to cut losses

Oil Marketing Companies (OMCs) have demanded that they are paid interest on withheld payments of differential in prices equivalent to commercial banks' rates. Sources said Oil Companies Advisory Committee (OCAC) has sent details of outstanding amounts acc
Published 05 Jul, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (July 04, 2007).
Published 05 Jul, 2007 12:00am
OMCs demand interest on bank rates to cut losses

OMCs demand interest on bank rates to cut losses

Oil Marketing Companies (OMCs) have demanded that they are paid interest on withheld payments of differential in prices equivalent to commercial banks' rates. Sources said Oil Companies Advisory Committee (OCAC) has sent details of outstanding amounts acc
Published 05 Jul, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
OMCs demand interest on bank rates to cut losses

OMCs demand interest on bank rates to cut losses

Oil Marketing Companies (OMCs) have demanded that they are paid interest on withheld payments of differential in prices equivalent to commercial banks'' rates. Sources said Oil Companies Advisory Committee (OCAC) has sent details of outstanding amounts ac
Published 05 Jul, 2007 12:00am
Indus Motor achieves 50,000 unit sales

Indus Motor achieves 50,000 unit sales

The Indus Motor Company (IMC) has achieved 50,000 unit sales for the year 2006-07. A statement here on Wednesday said that to mark the achievement, a ceremony was organised. The event was attended by senior management of IMC, its 35 dealerships and IMC em
Published 05 Jul, 2007 12:00am
Al Gore's son arrested on drug charges

Al Gore's son arrested on drug charges

Police arrested former vice president and current environmental activist Al Gore's son, also named Albert Gore, after finding marijuana and narcotics in his low-emissions car, authorities said Wednesday.
Published 05 Jul, 2007 12:00am
FAO warns Pakistan and India of locust attacks

FAO warns Pakistan and India of locust attacks

Swarms of locusts could cross the Indian Ocean from Ethiopia and Somalia and reach India and Pakistan over the coming days, the Food and Agriculture Organisation warned on Wednesday. "Desert Locust swarms from Ethiopia and northern Somalia are expected to
Published 05 Jul, 2007 12:00am
FAO warns Pakistan and India of locust attacks

FAO warns Pakistan and India of locust attacks

Swarms of locusts could cross the Indian Ocean from Ethiopia and Somalia and reach India and Pakistan over the coming days, the Food and Agriculture Organisation warned on Wednesday. "Desert Locust swarms from Ethiopia and northern Somalia are expected to
Published 05 Jul, 2007 12:00am
FAO warns Pakistan and India of locust attacks

FAO warns Pakistan and India of locust attacks

Swarms of locusts could cross the Indian Ocean from Ethiopia and Somalia and reach India and Pakistan over the coming days, the Food and Agriculture Organisation warned on Wednesday. "Desert Locust swarms from Ethiopia and northern Somalia are expected to
Published 05 Jul, 2007 12:00am
Pakistan approaches ADB to provide $400 million loan

Pakistan approaches ADB to provide $400 million loan

The entire housing reconstruction in earthquake-hit areas needs $1.375 billion, while the total external financing, approved and in the pipeline, without Asian Development Bank (ADB) is $816 million. According to ADB sources, the Pakistan government was f
Published 05 Jul, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Banks' advance-deposit ratio remains stable

Banks' advance-deposit ratio remains stable

The advance-deposit ratio of banks remained stable at 73 percent in the first five months of the calendar year CY07, whereas the interest rate spreads rose by nine basis points to 7.40 percent in the period under review as compared to 7.31 percent in the
Published 05 Jul, 2007 12:00am
Banks' advance-deposit ratio remains stable

Banks' advance-deposit ratio remains stable

The advance-deposit ratio of banks remained stable at 73 percent in the first five months of the calendar year CY07, whereas the interest rate spreads rose by nine basis points to 7.40 percent in the period under review as compared to 7.31 percent in the
Published 05 Jul, 2007 12:00am
Banks'' advance-deposit ratio remains stable

Banks'' advance-deposit ratio remains stable

The advance-deposit ratio of banks remained stable at 73 percent in the first five months of the calendar year CY07, whereas the interest rate spreads rose by nine basis points to 7.40 percent in the period under review as compared to 7.31 percent in the
Published 05 Jul, 2007 12:00am
Bulls rule the roost on stock market

Bulls rule the roost on stock market

Despite cautious stance by the investors due to law and order situation in Islamabad, the local share market managed to close in a positive note as the KSE-100 index recovered 59.18 points to close at 13,869.03 points level on the back of fresh buying in
Published 05 Jul, 2007 12:00am
Bulls rule the roost on stock market

Bulls rule the roost on stock market

Despite cautious stance by the investors due to law and order situation in Islamabad, the local share market managed to close in a positive note as the KSE-100 index recovered 59.18 points to close at 13,869.03 points level on the back of fresh buying in
Published 05 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Bulls rule the roost on stock market

Bulls rule the roost on stock market

Despite cautious stance by the investors due to law and order situation in Islamabad, the local share market managed to close in a positive note as the KSE-100 index recovered 59.18 points to close at 13,869.03 points level on the back of fresh buying in
Published 05 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
BRIndex30 gains 80.75 points

BRIndex30 gains 80.75 points

On Wednesday, the BRIndex30 opened at 15,312.90 in the positive zone and remained there for whole of the trading time, closing at 15,395.29, with a net positive change of 80.75 points and percentage change of 0.53. It recorded intra-day high of 15,458.06
Published 05 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
BRIndex30 gains 80.75 points

BRIndex30 gains 80.75 points

On Wednesday, the BRIndex30 opened at 15,312.90 in the positive zone and remained there for whole of the trading time, closing at 15,395.29, with a net positive change of 80.75 points and percentage change of 0.53. It recorded intra-day high of 15,458.06
Published 05 Jul, 2007 12:00am
UN team being deployed at flood-hit areas

UN team being deployed at flood-hit areas

A five-member United Nations Disaster Assessment and Coordination (UNDAC) team is being deployed to Pakistan in the wake of the severe flooding and cyclone Yemyin that hit the country recently, it was announced Tuesday.
Published 05 Jul, 2007 12:00am
UN team being deployed at flood-hit areas

UN team being deployed at flood-hit areas

A five-member United Nations Disaster Assessment and Coordination (UNDAC) team is being deployed to Pakistan in the wake of the severe flooding and cyclone Yemyin that hit the country recently, it was announced Tuesday.
Published 05 Jul, 2007 12:00am
LSE equities score fresh gains

LSE equities score fresh gains

Share prices moved up and registered fresh gains, under the lead of Pakistan Oilfields and Javed Omer Vohra and Co, on the Lahore Stock Exchange (LSE) on Wednesday, ignoring the Lal Masjid factor. The LSE-25 index ended at 4,883.27 points compared with 4,
Published 05 Jul, 2007 12:00am
LSE equities score fresh gains

LSE equities score fresh gains

Share prices moved up and registered fresh gains, under the lead of Pakistan Oilfields and Javed Omer Vohra and Co, on the Lahore Stock Exchange (LSE) on Wednesday, ignoring the Lal Masjid factor. The LSE-25 index ended at 4,883.27 points compared with 4,
Published 05 Jul, 2007 12:00am
Bullish trend on ISE

Bullish trend on ISE

Equities partially recovered at the Islamabad Stock Exchange (ISE) where bulls returned in the front seat amid increase in index. ISE-10 Index showed an increase of 8.55 points as the index moved from 2,736.31 to 2,744.86 points. The overall turnover amou
Published 05 Jul, 2007 12:00am
Bullish trend on ISE

Bullish trend on ISE

Equities partially recovered at the Islamabad Stock Exchange (ISE) where bulls returned in the front seat amid increase in index. ISE-10 Index showed an increase of 8.55 points as the index moved from 2,736.31 to 2,744.86 points. The overall turnover amou
Published 05 Jul, 2007 12:00am
SHC issues notice to Privatisation Commission and KESC

SHC issues notice to Privatisation Commission and KESC

The Sindh High Court Wednesday issued notice to Cabinet Secretary, the Privatisation Commission and the Karachi Electric Supply Corporation for July 11, 2007 on a petition challenging the privatisation of KESC.
Published 05 Jul, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 05 Jul, 2007 12:00am
NIT declares highest-ever dividend

NIT declares highest-ever dividend

The National Investment Trust (NIT) has declared the highest-ever dividend of Rs 6.20 per unit for its unit holders for the year ended on June 30. Addressing a press conference after the approval of annual accounts by the board of directors at a local hot
Published 05 Jul, 2007 12:00am
NIT declares highest-ever dividend

NIT declares highest-ever dividend

The National Investment Trust (NIT) has declared the highest-ever dividend of Rs 6.20 per unit for its unit holders for the year ended on June 30. Addressing a press conference after the approval of annual accounts by the board of directors at a local hot
Published 05 Jul, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
BBC correspondent freed in Gaza

BBC correspondent freed in Gaza

Alan Johnston, the BBC journalist held hostage in the Gaza Strip, was freed on Wednesday after a deal between the ruling Hamas Islamists and the al Qaeda-inspired clan group that kidnapped him in March.
Published 05 Jul, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 05 Jul, 2007 12:00am
BBC correspondent freed in Gaza

BBC correspondent freed in Gaza

Alan Johnston, the BBC journalist held hostage in the Gaza Strip, was freed on Wednesday after a deal between the ruling Hamas Islamists and the al Qaeda-inspired clan group that kidnapped him in March.
Published 05 Jul, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 05 Jul, 2007 12:00am
Wapda extends incentive package deadline

Wapda extends incentive package deadline

Water and Power Development Authority (Wapda) has further extended the period of availing incentive package for industries including regular industries of seasonal nature ie ice factories, ginning factories, oil mills and rice shellers etc, up to December
Published 05 Jul, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 05 Jul, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Wednesday (July 04, 2007).

Published 05 Jul, 2007 12:00am
Lal Masjid administrators responsible for situation: Sherpao

Lal Masjid administrators responsible for situation: Sherpao

Federal Interior Minister Aftab Ahmed Khan Sherpao said here on Wednesday that the government had been trying to solve the Lal Masjid Jamia Hafsa row peacefully but the administrators of the seminary failed to respond positively. Talking to PTV in a telep
Published 05 Jul, 2007 12:00am
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