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Print - 2004-01-21
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (January 20, 2004).
Published 21 Jan, 2004 12:00am
Bush meets Sinha, praises progress in Pak-India ties

Bush meets Sinha, praises progress in Pak-India ties

US President George W Bush met on Tuesday with Indian Foreign Minister Yashwant Sinha, praising recent progress towards defusing tensions between India and Pakistan, the White House said.
Published 21 Jan, 2004 12:00am
Microsoft to invest $7 million in one year

Microsoft to invest $7 million in one year

The Microsoft will invest around $7 million in Pakistan over a period of one year for the promotion of Information and Communication Technology (ICT).
Published 21 Jan, 2004 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (January 20, 2004).
Published 21 Jan, 2004 12:00am
Microsoft to invest $7 million in one year

Microsoft to invest $7 million in one year

The Microsoft will invest around $7 million in Pakistan over a period of one year for the promotion of Information and Communication Technology (ICT).
Published 21 Jan, 2004 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (January 20, 2004).
Published 21 Jan, 2004 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (January 20, 2004).
Published 21 Jan, 2004 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 21 Jan, 2004 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 21 Jan, 2004 12:00am
US soyabean crop fall to raise Latam exports

US soyabean crop fall to raise Latam exports

The latest cut in estimates of the US 2003 soyabean crop will require even larger than expected exports of South American beans to meet global demand in coming months, Hamburg-based newsletter Oil World said.
Published 21 Jan, 2004 12:00am
EU soyabean imports set to rise: Oil World

EU soyabean imports set to rise: Oil World

European Union imports of soyabeans are set to rise in coming months but EU stocks will fall in mid-year as crushers hope for a bigger crop and lower prices next season, Hamburg-based newsletter Oil World said.
Published 21 Jan, 2004 12:00am
Chinese to open soya trading firm in Brazil

Chinese to open soya trading firm in Brazil

Three Chinese grains companies visiting Brazil plan to open a soya trading firm that will buy directly from local producers and co-operatives, Chao En Hung, director of the Sao Paulo-based Solidez trading company, said late Monday.
Published 21 Jan, 2004 12:00am
French wheat closes higher

French wheat closes higher

French wheat closed higher on Monday, helped by a rise in US futures on Friday, a stronger dollar against the euro and firm freight rates that continued to curb imports into Europe, traders said.
Published 21 Jan, 2004 12:00am
Libya buys some feed barley

Libya buys some feed barley

Libya's state grains agency has made several small barley purchases of an unknown volume in recent days but remains in the market for more, traders said on Tuesday.
Published 21 Jan, 2004 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

The average price of Bangladesh teas fell on poor quality at the weekly auction on Tuesday, brokers said.
Published 21 Jan, 2004 12:00am
Singapore bunker prices firmer

Singapore bunker prices firmer

Singapore bunker prices were steady to firmer on Tuesday, taking some support from a draw-down in inventories and higher crude prices.
Published 21 Jan, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 117,923 tonnes of cargo including 106,694 tonnes import and 11,229 tonnes export cargo during last 24 hours ending at 0700 hours on Tuesday.
Published 21 Jan, 2004 12:00am
China wheat buys may herald large grain imports

China wheat buys may herald large grain imports

China's recent foreign wheat orders may be the tip of the iceberg for grain imports in years to come as the country is unlikely to produce enough itself and stocks have been reduced, traders and analysts said on Tuesday.
Published 21 Jan, 2004 12:00am
South Africa pegs 2003-04 maize area at lowest since 1940s

South Africa pegs 2003-04 maize area at lowest since 1940s

South Africa pegged its maize area estimate to its lowest level since the 1940s on Tuesday, saying farmers had sown 2.56 million hectares - in line with estimates by market players polled by Reuters.
Published 21 Jan, 2004 12:00am
Italian jewellery makers risk prolonged crisis

Italian jewellery makers risk prolonged crisis

Italy's gold jewellery exporters risk losing market share because of the strong euro, soaring gold prices and fierce competition from developing countries and alternative lifestyle products, specialists said on Tuesday.
Published 21 Jan, 2004 12:00am
Pakistani rice prices up amid slow pre-Eid supply

Pakistani rice prices up amid slow pre-Eid supply

Pakistani rice prices rose this week on slow arrivals from the new crop and supplies are expected to remain sluggish ahead of the Muslim festival of Eid-ul-Azha due early next month, dealers said on Tuesday.
Published 21 Jan, 2004 12:00am
Listless trading in cotton market

Listless trading in cotton market

Trading in cotton (all from Punjab) was maintained around usual calculated level determined by the spinners, relevant sources said. The rain, according to them, had not disturbed the proceedings.
Published 21 Jan, 2004 12:00am
Castorseeds down on grain market

Castorseeds down on grain market

Castorseeds shed modestly on the seed and grain wholesale markets on Tuesday (January 20, 2004).
Published 21 Jan, 2004 12:00am
Rubber closes mixed on Jodia Bazar

Rubber closes mixed on Jodia Bazar

Plastic moulding generally plunged while raw rubber closed mixed on the Jodia Bazar amid good goings on Tuesday(January 20, 2004).
Published 21 Jan, 2004 12:00am
Subsidies thwart hopes for bigger Egypt sugar crop

Subsidies thwart hopes for bigger Egypt sugar crop

Standing in front of his shop coating pastries in syrup, Yahya insists the government must do everything in its power to keep sugar cheap and within easy reach of every Egyptian.
Published 21 Jan, 2004 12:00am
Chinese grain output at 13-year low

Chinese grain output at 13-year low

China produced 430.6 million tonnes of grain in 2003, the lowest harvest in 13 years and 5.8 percent less than in 2002, official figures released on Tuesday showed.
Published 21 Jan, 2004 12:00am
Chinese cotton output down

Chinese cotton output down

China harvested 4.87 million tonnes of cotton in 2003, down a year-on-year 0.9 percent despite an acreage increase of 20 percent, the State Statistical Bureau said on Tuesday.
Published 21 Jan, 2004 12:00am
Australian sorghum soars after bumper wheat crop

Australian sorghum soars after bumper wheat crop

Private forecaster Australian Wheat Forecasters Pty Ltd (AWF) is forecasting a big increase in Australia's summer sorghum crop in 2004 after the near completion of bumper winter wheat and barley harvests.
Published 21 Jan, 2004 12:00am
Tokyo gold up on weak yen

Tokyo gold up on weak yen

Tokyo gold futures inched up on Tuesday despite weak bullion prices, after the yen fell against the dollar.
Published 21 Jan, 2004 12:00am
Gold drifts in Asia, seen holding above $400

Gold drifts in Asia, seen holding above $400

Spot gold fell in quiet Asian trade on Tuesday as a firmer dollar kept investors at bay, but traders expected fresh physical buying to prevent prices from falling below the crucial $400-an-ounce level.
Published 21 Jan, 2004 12:00am
US crude touches 10-month high on supply fears

US crude touches 10-month high on supply fears

US crude prices made fresh gains on Tuesday, rallying to a 10-month high as freezing temperatures and wafer-thin fuel stocks in the United States stoked fears of a possible supply crunch.
Published 21 Jan, 2004 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures rose on Tuesday on short-covering and position-squaring ahead of the Lunar New Year holiday, when some traders in Asia will be off.
Published 21 Jan, 2004 12:00am
Malaysian tin drops further

Malaysian tin drops further

Malaysia's tin market closed lower on Tuesday for a third straight day of losses, further narrowing the wide premium over London Metal Exchange prices.
Published 21 Jan, 2004 12:00am
India upbeat on corn exports as prices turn firm

India upbeat on corn exports as prices turn firm

India has contracted to sell about 150,000 tonnes of corn for shipments over the next two months, traders said on Tuesday, capitalising on the absence of export offers from China.
Published 21 Jan, 2004 12:00am
LME copper rises to nearly 6-1/2-year level

LME copper rises to nearly 6-1/2-year level

Copper prices rose to their highest level since June 1997 during Tuesday afternoon London Metal Exchange (LME) trading, spurred by a lower production outlook from US copper producer Freeport McMoRan and against a background of tumbling inventories.
Published 21 Jan, 2004 12:00am
New York cotton futures mixed

New York cotton futures mixed

NYCE cotton futures finished mixed Tuesday, with most players sidelined to wait out the Lunar New Year festivities this week in top consumer China, dealers said.
Published 21 Jan, 2004 12:00am
European gold inches up on weak dollar

European gold inches up on weak dollar

Gold bullion inched higher in Europe during quiet Tuesday trade with prices hot on the heels of the dollar's minor oscillations against the euro, traders and analysts said.
Published 21 Jan, 2004 12:00am
World oil prices hit fresh 10-month highs

World oil prices hit fresh 10-month highs

Oil prices hit fresh 10-month highs on Tuesday as a huge blast at a liquefied natural gas (LNG) plant in Algeria added to concerns over wafer-thin US oil supplies, which are being tested amid bitter winter cold.
Published 21 Jan, 2004 12:00am
UK inflation steady in December

UK inflation steady in December

British inflation remained steady in December, defying expectations of a fall and making it easier for the Bank of England to raise interest rates next month.
Published 21 Jan, 2004 12:00am
ICC warns against terrorism

ICC warns against terrorism

Terrorism must be tackled immediately or the world would face a "catastrophe," the International Chamber of Commerce warned Tuesday.
Published 21 Jan, 2004 12:00am
ICC warns against terrorism

ICC warns against terrorism

Terrorism must be tackled immediately or the world would face a "catastrophe," the International Chamber of Commerce warned Tuesday.
Published 21 Jan, 2004 12:00am
Asean prepares 'road map' for economic integration

Asean prepares 'road map' for economic integration

Southeast Asian economic ministers agreed Tuesday to work to integrate 11 industry sectors as part of efforts to create a European-style single market covering their 530 million people by 2020.
Published 21 Jan, 2004 12:00am
Portugal and Spain seal deal on power market

Portugal and Spain seal deal on power market

Spain and Portugal on Tuesday sealed their long-delayed single power market, billed as Europe's largest spot market, and Portugal hailed it as a route to lower electricity prices.
Published 21 Jan, 2004 12:00am
South Korean banks profit slumps, outlook rosy for 2004

South Korean banks profit slumps, outlook rosy for 2004

Credit card defaults and a corporate fraud halved combined profits at South Korean banks including Kookmin Bank in 2003, but profits should triple in 2004 as the economy recovers, a financial regulator said on Tuesday.
Published 21 Jan, 2004 12:00am
South Korean banks profit slumps, outlook rosy for 2004

South Korean banks profit slumps, outlook rosy for 2004

Credit card defaults and a corporate fraud halved combined profits at South Korean banks including Kookmin Bank in 2003, but profits should triple in 2004 as the economy recovers, a financial regulator said on Tuesday.
Published 21 Jan, 2004 12:00am
Big EU payers snub Commission over budget

Big EU payers snub Commission over budget

The European Union's top paymasters slapped down European Commission plans on Tuesday to boost the bloc's budget, setting the stage for a tough fight over future funding of the soon-to-expand union.
Published 21 Jan, 2004 12:00am
Opec not in control of oil price jump: IEA

Opec not in control of oil price jump: IEA

The International Energy Agency (IEA) said on Tuesday that Opec did not want oil prices at current high levels but was unable to bring the market down.
Published 21 Jan, 2004 12:00am
Citigroup fourth-quarter profit nearly doubles

Citigroup fourth-quarter profit nearly doubles

Citigroup Inc, the world's largest financial services company, on Tuesday said fourth-quarter net profit nearly doubled, as consumer and investment banking income climbed.
Published 21 Jan, 2004 12:00am
Citigroup fourth-quarter profit nearly doubles

Citigroup fourth-quarter profit nearly doubles

Citigroup Inc, the world's largest financial services company, on Tuesday said fourth-quarter net profit nearly doubled, as consumer and investment banking income climbed.
Published 21 Jan, 2004 12:00am
Chinese economy grows 9.1 percent in 2003

Chinese economy grows 9.1 percent in 2003

China's economy continued growing at a blistering pace in 2003, expanding 9.1 percent for its best performance since 1997 and with more in store this year, the government said Tuesday.
Published 21 Jan, 2004 12:00am
Boeing 737s remain best seller

Boeing 737s remain best seller

The Boeing 737 in 2003 remained the company's best-selling commercial airplane, propelled by strong demand from the world's low-cost airlines.
Published 21 Jan, 2004 12:00am
World Bank vows to help Russia enter WTO by 2006

World Bank vows to help Russia enter WTO by 2006

Russian President Vladimir Putin said that he had secured a promise Tuesday from World Bank chief James Wolfensohn that he would try to help Moscow join the World Trade Organisation (WTO) by 2006.
Published 21 Jan, 2004 12:00am
BoJ unexpectedly eases monetary policy

BoJ unexpectedly eases monetary policy

Taking financial markets by surprise, the Bank of Japan eased its monetary policy on Tuesday in what analysts said was a sign of concern about the potentially harmful impact on the economy of the recent strength of the yen.
Published 21 Jan, 2004 12:00am
Philippines' trade gap widens, peso pressured

Philippines' trade gap widens, peso pressured

The Philippine trade deficit rose sharply in November as the government stood by controversial data showing a heavy fall in electronics shipments and other exports, providing more evidence the economy is trailing its Asian peers.
Published 21 Jan, 2004 12:00am
Hong Kong deflation improves in December, end in sight

Hong Kong deflation improves in December, end in sight

Hong Kong's deflation cycle extended to a 62nd consecutive month in December but the end appears to be in sight as retail prices are picking up on the back of economic recovery and robust tourism.
Published 21 Jan, 2004 12:00am
Zimbabwe inflation dips below 600 percent in December

Zimbabwe inflation dips below 600 percent in December

Zimbabwe's rocketing inflation rate subsided for the first time in 18 months in December, data released on Tuesday showed, suggesting it could undershoot the government's forecast of 700 percent in the first quarter.
Published 21 Jan, 2004 12:00am
Central Europe budget cuts to squeeze drug wholesalers

Central Europe budget cuts to squeeze drug wholesalers

Central Europe's drug wholesalers face slower growth this year as governments look to trim spending in their battle with budget deficits, while European Union entry in May will trigger sector consolidation, industry executives and analysts say.
Published 21 Jan, 2004 12:00am
Sri Lankan stocks surge after drop on politics

Sri Lankan stocks surge after drop on politics

Sri Lankan stocks picked up on Tuesday on speculative buying a day after a sharp drop on a political alliance between two main political parties that could delay peace talks with Tamil Tiger rebels.
Published 21 Jan, 2004 12:00am
Philippines stocks rise on telco merger hopes

Philippines stocks rise on telco merger hopes

Philippines stocks closed nearly two percent higher on Tuesday, lifted by speculation that dominant telecoms firm PLDT planned to merge its two mobile units.
Published 21 Jan, 2004 12:00am
Nikkei ends at three-month high but gains pared

Nikkei ends at three-month high but gains pared

Japan's Nikkei stock average ended at a three-month high on Tuesday but worries about overheating offset the Bank of Japan's decision to ease monetary policy, paring much of the market's gains in late trade.
Published 21 Jan, 2004 12:00am
Toronto stocks jump

Toronto stocks jump

US technology issues carried Toronto stocks to a higher close on Monday as investors jockeyed for position ahead of what is widely expected to be a solid corporate earnings season.
Published 21 Jan, 2004 12:00am
Seoul shares finish with strong gains

Seoul shares finish with strong gains

South Korean shares closed at a new 20-month high on Tuesday, with market leader Samsung Electronics Co and sibling flat screen maker Samsung SDI posting all-time highs.
Published 21 Jan, 2004 12:00am
Thai stocks decline ahead of Lunar New Year

Thai stocks decline ahead of Lunar New Year

Thai shares ended lower on Tuesday as investors took profits ahead of the Chinese New Year, but buying of bank stocks, bolstered by the cabinet's approval of a bank merger plan, limited the fall.
Published 21 Jan, 2004 12:00am
Malaysian shares end up, Aica continues rise

Malaysian shares end up, Aica continues rise

Malaysian shares finished higher for the third day running on Tuesday in slow pre-holiday trade, as speculative stocks like Malaysia Aica continued to rise.
Published 21 Jan, 2004 12:00am
Property powers Hang Seng index to new 2-1/2-year high

Property powers Hang Seng index to new 2-1/2-year high

Hong Kong's leading index closed at a fresh two-and-a-half year high on Tuesday as investors scooped up property shares in anticipation of stronger earnings as the long ailing sector revives.
Published 21 Jan, 2004 12:00am
Japanese government bond yields hit one-week high

Japanese government bond yields hit one-week high

Japanese government bond (JGB) yields soared to one-week highs on Tuesday on firmness in Tokyo shares, shrugging off a surprise monetary easing by the Bank of Japan.
Published 21 Jan, 2004 12:00am
Japanese government bond yields hit one-week high

Japanese government bond yields hit one-week high

Japanese government bond (JGB) yields soared to one-week highs on Tuesday on firmness in Tokyo shares, shrugging off a surprise monetary easing by the Bank of Japan.
Published 21 Jan, 2004 12:00am
Indian shares slip on poll, fund worries

Indian shares slip on poll, fund worries

India's key share index wiped out the previous day's gains on Tuesday, ending at a three-week low on concerns that foreign portfolio investors may wait on the sidelines until after the upcoming national elections.
Published 21 Jan, 2004 12:00am
Oils, banks knock FTSE-100, despite Aviva cheer

Oils, banks knock FTSE-100, despite Aviva cheer

British blue chips closed near session lows on Tuesday as a cheery outlook from insurer Aviva failed to counter weakness among heavily-weighted oil and bank stocks as well as a lower start on Wall Street.
Published 21 Jan, 2004 12:00am
Chinese yuan notches weaker

Chinese yuan notches weaker

The yuan ended six notches weaker versus the US dollar at 8.2772 on Tuesday, still near the stronger end of its managed trading range.
Published 21 Jan, 2004 12:00am
Swiss franc flat on dollar, eases against euro

Swiss franc flat on dollar, eases against euro

The Swiss franc was little changed against the dollar in trading on Tuesday although softer against the euro even though eurozone finance ministers expressed concerns about the strength of the euro.
Published 21 Jan, 2004 12:00am
Dollar ends steady against major currencies

Dollar ends steady against major currencies

The dollar steadied against major currencies on Tuesday, holding on to most of the previous day's impressive gains as investors grew uneasy about battering the greenback before the Group of Seven meeting next month.
Published 21 Jan, 2004 12:00am
Dollar up in holiday thin trade

Dollar up in holiday thin trade

The dollar rose on Monday in holiday-thinned trade, adding to last week's gains, as statements by some euro zone finance ministers that they can live with the euro's current exchange rate had little impact on the market.
Published 21 Jan, 2004 12:00am
Hong Kong dollar ends higher

Hong Kong dollar ends higher

The Hong Kong dollar inched higher on Tuesday afternoon after a weak start to the day, with some investors covering Hong Kong dollar short positions ahead of the Lunar New Year holiday.
Published 21 Jan, 2004 12:00am
Asian currencies easier ahead of holidays on G7 worries

Asian currencies easier ahead of holidays on G7 worries

Asian currencies fell on Tuesday as players turned cautious after the US dollar rebounded against major currencies ahead of a Group of Seven meeting, likely to discuss exchange rate issues.
Published 21 Jan, 2004 12:00am
Indian rupee marginally higher

Indian rupee marginally higher

The Indian rupee recovered from early lows and ended marginally higher on Tuesday, helped by foreign direct investments and dollar inflows from exporters, dealers said.
Published 21 Jan, 2004 12:00am
Pound gains 3 cents verses dollar

Pound gains 3 cents verses dollar

Sterling won more than three cents against the dollar on Tuesday and dug in its heels against the resurgent euro as UK inflation data helped to keep the fire burning under expectations of an imminent UK interest rate rise.
Published 21 Jan, 2004 12:00am