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Print - 2004-02-13
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (February 12, 2004).
Published 13 Feb, 2004 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 Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
Revenue Board meeting rescheduled

Revenue Board meeting rescheduled

The Central Board of Revenue (CBR) has postponed first meeting of Steering Group to monitor the reform process on February 13.
Published 13 Feb, 2004 12:00am
Strong rouble no threat to Russian growth: minister

Strong rouble no threat to Russian growth: minister

Russia's Finance Minister Alexei Kudrin, in an interview published on Thursday, said he was unconcerned that a strong rouble which has gained almost 20 percent in 2003 could hold back robust economic growth.
Published 13 Feb, 2004 12:00am
French economy did badly in 2003, 2004 looking up

French economy did badly in 2003, 2004 looking up

The French economy expanded at its slowest rate in a decade in 2003 but the government said things were picking up and that growth could hit two or even 2.5 percent this year.
Published 13 Feb, 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 Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
China computer sales up 10.4 percent in 2003

China computer sales up 10.4 percent in 2003

PC sales in China rose 10.4 percent in 2003, accounting for nearly half of all computers sold in the Asia Pacific region, according to data released on Thursday by research firm Gartner.
Published 13 Feb, 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 Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
US waging 'open war' on Opec: Saudi paper

US waging 'open war' on Opec: Saudi paper

A leading Saudi Arabian newspaper said on Thursday the United States had no right to warn Opec against cutting oil output and accused Washington of waging war on the cartel under the guise of protecting the global economy.
Published 13 Feb, 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 Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
Bridgestone official confirms Amtel tyre deal

Bridgestone official confirms Amtel tyre deal

A Bridgestone official in Moscow said on Thursday the Japanese company had signed a preliminary agreement with Russian tyre maker Amtel to produce tyres at an Amtel factory in Russia.
Published 13 Feb, 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 13 Feb, 2004 12:00am
Judge appoints administrator for Parmalat Brasil

Judge appoints administrator for Parmalat Brasil

A Sao Paulo judge appointed a special administrator late on Wednesday to run Italian food group Parmalat's main unit in Brazil, as the country's Central Bank said it was investigating hundreds of millions of dollars in illegal transfers.
Published 13 Feb, 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 13 Feb, 2004 12:00am
Rubber up in Tokyo

Rubber up in Tokyo

Tokyo rubber futures rose on Thursday on technical buying spurred by rises in overseas prices.
Published 13 Feb, 2004 12:00am
Islamabad welcomes Bush's statement

Islamabad welcomes Bush's statement

Pakistan said on Thursday that it welcomed a statement by George W. Bush in which the US leader hailed President General Pervez Musharraf's determination not to let his country be used to leak nuclear technology.
Published 13 Feb, 2004 12:00am
Nicaraguan coffee exports fall

Nicaraguan coffee exports fall

Nicaraguan coffee exports fell 16 percent in January to 75,683 46-kg bags, from 90,078 46-kg bags in the same month last year, the export authority Cetrex said on Wednesday.
Published 13 Feb, 2004 12:00am
General Abizaid escapes attack in Iraq

General Abizaid escapes attack in Iraq

The head of US Central Command, General John Abizaid, escaped unharmed on Thursday from a rocket-propelled grenade attack in the hotspot Iraqi town of Fallujah, a US military officer said.
Published 13 Feb, 2004 12:00am
Ukraine's wheat imports fall

Ukraine's wheat imports fall

Ukraine, struggling with a slump in food grain output in 2003, cut wheat imports sharply in January to 188,000 tonnes from about 900,000 tonnes in December, a local agriculture news agency said on Thursday.
Published 13 Feb, 2004 12:00am
General Abizaid escapes attack in Iraq

General Abizaid escapes attack in Iraq

The head of US Central Command, General John Abizaid, escaped unharmed on Thursday from a rocket-propelled grenade attack in the hotspot Iraqi town of Fallujah, a US military officer said.
Published 13 Feb, 2004 12:00am
Jordan buys Syrian feed barley

Jordan buys Syrian feed barley

An official at Syria's state grains agency confirmed earlier trade reports that 200,000 tonnes of feed barley had been sold to Jordan's government.
Published 13 Feb, 2004 12:00am
Korean scientists claim to clone human embryos

Korean scientists claim to clone human embryos

South Korean scientists have announced that they cloned several human embryos and managed to extract valuable stem cells from one, but experts cautioned the hope of tailored medical treatments from such techniques is still far off.
Published 13 Feb, 2004 12:00am
EU 2003-04 grain balance tight

EU 2003-04 grain balance tight

The European Union's 2003/04 grain balance remains tight due to last year's poor harvests, while a recent rise in freight rates is hampering much-needed imports, analyst Strategies Grains said on Thursday.
Published 13 Feb, 2004 12:00am
Korean scientists claim to clone human embryos

Korean scientists claim to clone human embryos

South Korean scientists have announced that they cloned several human embryos and managed to extract valuable stem cells from one, but experts cautioned the hope of tailored medical treatments from such techniques is still far off.
Published 13 Feb, 2004 12:00am
CBOT wheat ends up

CBOT wheat ends up

Wheat futures at the Chicago Board of Trade closed up sharply on Wednesday on spill-over support from the bullish numbers for wheat in Tuesday's USDA supply/demand reports and on hopes for additional sales of US wheat to China, traders said.
Published 13 Feb, 2004 12:00am
Bearish trend on Islamabad Stock Exchange

Bearish trend on Islamabad Stock Exchange

Bearish trend was observed at the Islamabad Stock Exchange (ISE), where selling-pressure in hot favourite moved the entire ready-board in downward direction amid decrease in index.
Published 13 Feb, 2004 12:00am
FOB Gulf soyabean basis offers steady

FOB Gulf soyabean basis offers steady

US FOB Gulf soyabean basis offers were mostly steady on Wednesday night but the Gulf barge basis for soya eroded further on talk that China had cancelled at least one cargo due to be loaded out of the Pacific Northwest.
Published 13 Feb, 2004 12:00am
Bearish trend on Islamabad Stock Exchange

Bearish trend on Islamabad Stock Exchange

Bearish trend was observed at the Islamabad Stock Exchange (ISE), where selling-pressure in hot favourite moved the entire ready-board in downward direction amid decrease in index.
Published 13 Feb, 2004 12:00am
China top buyer of Brazilian soyabeans

China top buyer of Brazilian soyabeans

China remained the leading importer of Brazilian soyabeans in 2003 for the second year running, the crop supply agency Conab of the Agriculture Ministry said.
Published 13 Feb, 2004 12:00am
Musharraf rules out compromise on Kashmir

Musharraf rules out compromise on Kashmir

President General Pervez Musharraf said on Thursday that there could be no compromise on occupied Kashmir, but "we have to resolve the occupied Kashmir dispute with India in a peaceful manner".
Published 13 Feb, 2004 12:00am
Singapore bunker prices steady

Singapore bunker prices steady

Singapore bunker prices for fuel oil were steady to stronger on Thursday as healthy demand shielded the shipping fuel from weaker cargo prices and higher supplies, traders said.
Published 13 Feb, 2004 12:00am
Musharraf rules out compromise on Kashmir

Musharraf rules out compromise on Kashmir

President General Pervez Musharraf said on Thursday that there could be no compromise on occupied Kashmir, but "we have to resolve the occupied Kashmir dispute with India in a peaceful manner".
Published 13 Feb, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 84,703 tonnes of cargo including 75,224 tonnes import and 9,479 tonnes export cargo during last 24 hours ending at 0700 hours on Thursday.
Published 13 Feb, 2004 12:00am
Auto shares fall on old cars import decision

Auto shares fall on old cars import decision

The auto shares overreacted upon the decision of the government to allow import of reconditioned cars because at present only a committee has been constituted to finalise measures to import the used cars.
Published 13 Feb, 2004 12:00am
Indian alumina project faces further delay

Indian alumina project faces further delay

Work at Utkal Alumina's $1 billion project in east India has been delayed by another six months as the government has yet to hand over a piece of land because of protests by its owners, officials and industry sources said on Thursday.
Published 13 Feb, 2004 12:00am
Auto shares fall on old cars import decision

Auto shares fall on old cars import decision

The auto shares overreacted upon the decision of the government to allow import of reconditioned cars because at present only a committee has been constituted to finalise measures to import the used cars.
Published 13 Feb, 2004 12:00am
Decline continues in cotton market

Decline continues in cotton market

Prices in the cotton market have declined by Rs 100 to Rs 150 per mound (37.32 kgs) over the last two weeks and are portending further weakness during the next few days.
Published 13 Feb, 2004 12:00am
Duty on vehicle tracking system to be cut

Duty on vehicle tracking system to be cut

In a major move to control thefts of cars, the government has decided to reduce customs duty on the import of Vehicle Tracking System (VTS), which is latest sophisticated satellite technology used for tracking of stolen automobiles, sources told Busine
Published 13 Feb, 2004 12:00am
Decline continues in cotton market

Decline continues in cotton market

Prices in the cotton market have declined by Rs 100 to Rs 150 per mound (37.32 kgs) over the last two weeks and are portending further weakness during the next few days.
Published 13 Feb, 2004 12:00am
Duty on vehicle tracking system to be cut

Duty on vehicle tracking system to be cut

In a major move to control thefts of cars, the government has decided to reduce customs duty on the import of Vehicle Tracking System (VTS), which is latest sophisticated satellite technology used for tracking of stolen automobiles, sources told Busine
Published 13 Feb, 2004 12:00am
Oil cake market rates

Oil cake market rates

The March vaida opened at Rs 437.40 and highest was quoted at Rs 439. Later it lost in depressed trading to be lowest at Rs 437.10 and closing was seen at Rs 437.80.
Published 13 Feb, 2004 12:00am
Lahore Stock Exchange extends losses

Lahore Stock Exchange extends losses

The news of federal cabinet decision to allow import of new and old cars and President Bush's statement regarding the nuclear issue marred activity at the local bourse on Thursday, where share values extended the overnight losses forcing the index to unde
Published 13 Feb, 2004 12:00am
Bearish trend inhibits spot cotton trading

Bearish trend inhibits spot cotton trading

A solo sales deal was reported on the cotton market owing primarily to EU decision to withdraw GSP facility for Pak clothing and anti-dumping duty on bed linen exports, relevant sources said.
Published 13 Feb, 2004 12:00am
Lahore Stock Exchange extends losses

Lahore Stock Exchange extends losses

The news of federal cabinet decision to allow import of new and old cars and President Bush's statement regarding the nuclear issue marred activity at the local bourse on Thursday, where share values extended the overnight losses forcing the index to unde
Published 13 Feb, 2004 12:00am
Dyes lower on Jodia Bazar

Dyes lower on Jodia Bazar

Some changes were notified on Jodia Bazar on Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
KSE index sheds over 1.75 percent

KSE index sheds over 1.75 percent

The stock market recorded a sharp decline after selling spree centered around fuel, gas, cement and bank shares, where index declined by more than 1.75 percent where interest lacked, decreasing the share volume by more than 120 million shares.
Published 13 Feb, 2004 12:00am
Sugar down on grain market

Sugar down on grain market

Seeds, sugar, guwar sectors showed significantly variations, amid stepped up activities on Thursday (February 12, 2004).
Published 13 Feb, 2004 12:00am
KSE index sheds over 1.75 percent

KSE index sheds over 1.75 percent

The stock market recorded a sharp decline after selling spree centered around fuel, gas, cement and bank shares, where index declined by more than 1.75 percent where interest lacked, decreasing the share volume by more than 120 million shares.
Published 13 Feb, 2004 12:00am
New York coffee higher

New York coffee higher

CSCE coffee futures settled at an eight-day high on Wednesday in rollover and options-based trading, although funds and locals were unsuccessful in pushing prices above 75 cents a lb resistance, dealers said.
Published 13 Feb, 2004 12:00am
KPT all set to retire Rs 1.2 billion World Bank and IDA debt

KPT all set to retire Rs 1.2 billion World Bank and IDA debt

Karachi Port Trust is all set to retire its entire debt liabilities of Rs 1.2 billion of the World Bank and the International Development Agency, but neither the Communication Ministry nor the State Bank of Pakistan (SBP) desires to settle the accounts.
Published 13 Feb, 2004 12:00am
CSCE cocoa falls in switch-dominated trade

CSCE cocoa falls in switch-dominated trade

CSCE cocoa futures ended lower on Wednesday in another session in which the main feature was switch activity with the approach of first notice day for the March contract on Friday, brokers said.
Published 13 Feb, 2004 12:00am
KPT all set to retire Rs 1.2 billion World Bank and IDA debt

KPT all set to retire Rs 1.2 billion World Bank and IDA debt

Karachi Port Trust is all set to retire its entire debt liabilities of Rs 1.2 billion of the World Bank and the International Development Agency, but neither the Communication Ministry nor the State Bank of Pakistan (SBP) desires to settle the accounts.
Published 13 Feb, 2004 12:00am
PIA stops serving chicken on flights

PIA stops serving chicken on flights

Pakistan International Airlines (PIA) said on Thursday it had stopped serving chicken on board its flights in response to passengers' concerns over bird flu in the country.
Published 13 Feb, 2004 12:00am
Money market faces cash crunch

Money market faces cash crunch

Overnight rates took a long jump on Thursday as the money market ran short of liquidity after raising Rs 29.5 billion by the State Bank of Pakistan through auction of six-month Treasury Bills on Wednesday.
Published 13 Feb, 2004 12:00am
Shanghai copper futures climb

Shanghai copper futures climb

Shanghai copper traded its three percent limit up on Thursday after London Metal Exchange (LME) copper hit 7-1/2 year highs on Wednesday, traders said.
Published 13 Feb, 2004 12:00am
Money market faces cash crunch

Money market faces cash crunch

Overnight rates took a long jump on Thursday as the money market ran short of liquidity after raising Rs 29.5 billion by the State Bank of Pakistan through auction of six-month Treasury Bills on Wednesday.
Published 13 Feb, 2004 12:00am
Australian wool indicator falls

Australian wool indicator falls

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) fell 16 cents to 775 cents a kg clean at its latest sales on Thursday.
Published 13 Feb, 2004 12:00am
Tax-free import of German CNG compressors allowed

Tax-free import of German CNG compressors allowed

The Central Board of Revenue (CBR) has allowed tax-free import of German-made compressed natural gas (CNG) compressors to popularise the use of environment-friendly motor vehicle fuel.
Published 13 Feb, 2004 12:00am
New York copper ends at 7-3/4-year high on Greenspan remarks

New York copper ends at 7-3/4-year high on Greenspan remarks

Comex copper prices raced up to May 1996 highs after Federal Reserve Chairman Greenspan's congressional testimony created a recipe for copper gains by indicating that the US economy was growing at a healthy clip and the dollar had room to fall, traders sa
Published 13 Feb, 2004 12:00am
Tax-free import of German CNG compressors allowed

Tax-free import of German CNG compressors allowed

The Central Board of Revenue (CBR) has allowed tax-free import of German-made compressed natural gas (CNG) compressors to popularise the use of environment-friendly motor vehicle fuel.
Published 13 Feb, 2004 12:00am
Gold up in Tokyo on Greenspan's comment

Gold up in Tokyo on Greenspan's comment

Tokyo gold futures rose on Thursday, inspired by gains in bullion prices and New York's Comex market, which was boosted by US Federal Reserve Chairman Alan Greenspan's comment showing tolerance for a weak dollar.
Published 13 Feb, 2004 12:00am
Tax-free import of German CNG compressors allowed

Tax-free import of German CNG compressors allowed

The Central Board of Revenue (CBR) has allowed tax-free import of German-made compressed natural gas (CNG) compressors to popularise the use of environment-friendly motor vehicle fuel.
Published 13 Feb, 2004 12:00am
Comex gold rallies on Greenspan testimony

Comex gold rallies on Greenspan testimony

Comex gold rose sharply on Wednesday after Federal Reserve Chairman Alan Greenspan told Congress that the weak dollar could help reduce the US current account deficit.
Published 13 Feb, 2004 12:00am
15 killed in road accident

15 killed in road accident

Fifteen persons, including nine members of a family, were killed while seven others sustained serious injuries in a head-on collision between a passenger bus and a wagon near Pir Di Hatti in Dipalpur area, near Okara district here, on Thursday morning.
Published 13 Feb, 2004 12:00am
Gold hits two-week peak in Asia, eyes dollar

Gold hits two-week peak in Asia, eyes dollar

Spot gold hit a two-week peak of $412.75 an ounce in Asia on Thursday, extending gains in New York after US Federal Reserve Chairman Alan Greenspan showed little concern about the dollar's fall.
Published 13 Feb, 2004 12:00am
15 killed in road accident

15 killed in road accident

Fifteen persons, including nine members of a family, were killed while seven others sustained serious injuries in a head-on collision between a passenger bus and a wagon near Pir Di Hatti in Dipalpur area, near Okara district here, on Thursday morning.
Published 13 Feb, 2004 12:00am
Indonesian coffee trade slow

Indonesian coffee trade slow

Indonesian robusta exporters are reluctant to lower prices amid short supply, while buyers are awaiting price falls when the harvest begins in April, traders said on Thursday.
Published 13 Feb, 2004 12:00am
Greenspan backs extension of Bush tax cuts

Greenspan backs extension of Bush tax cuts

Federal Reserve Chairman Alan Greenspan on Thursday lent support to a White House bid to make $1.7 trillion in tax cuts permanent, telling Congress spending control was the best way to cut the budget gap.
Published 13 Feb, 2004 12:00am
Freight surge pushes Asia to Australian wheat

Freight surge pushes Asia to Australian wheat

Surging freight rates are pushing Asian wheat buyers towards cargoes from Australia, which is aggressively pricing its offers and exploiting a shipping cost advantage over US supplies.
Published 13 Feb, 2004 12:00am
Three al Qaeda suspects arrested in Jamrood

Three al Qaeda suspects arrested in Jamrood

Paramilitary forces on Thursday arrested three suspected al Qaeda operatives in a raid at their hideout in tribal territory near Afghanistan's border, officials said.
Published 13 Feb, 2004 12:00am
Asian cocoa: ample powder supply weighs

Asian cocoa: ample powder supply weighs

Prices of cocoa powder were under pressure in Southeast Asia because of ample supply in main producers Malaysia and Indonesia and limited interest from chocolate manufacturers, traders said on Thursday.
Published 13 Feb, 2004 12:00am
EU parliament demands Tasman Spirit crew release

EU parliament demands Tasman Spirit crew release

The European Parliament on Thursday demanded that Pakistan immediately release four Greek and three Filipino sailors whose tanker, 'Tasman Spirit' caused a huge oil spill when it sank last year off the port of Karachi.
Published 13 Feb, 2004 12:00am
Oil slips lower on worries

Oil slips lower on worries

Oil prices trickled lower on Thursday as doubts the Opec oil cartel would be able to bring its quota busters under control overcame concerns about falling US oil supplies.
Published 13 Feb, 2004 12:00am
EU to boost cotton imports from poor states

EU to boost cotton imports from poor states

The European Union's executive commission unveiled a plan on Thursday to help developing countries dependent on exports of commodities such as cotton or coffee to boost earnings and protect themselves against price swings on world markets.
Published 13 Feb, 2004 12:00am
CSCE sugar futures settle lower

CSCE sugar futures settle lower

CSCE raw sugar futures settled slightly lower on Wednesday as funds began aggressively rolling positions out of March ahead of the contract's expiration at the end of February, brokers said.
Published 13 Feb, 2004 12:00am
EU to boost cotton imports from poor states

EU to boost cotton imports from poor states

The European Union's executive commission unveiled a plan on Thursday to help developing countries dependent on exports of commodities such as cotton or coffee to boost earnings and protect themselves against price swings on world markets.
Published 13 Feb, 2004 12:00am
Indian summer oilseed output to jump

Indian summer oilseed output to jump

India is poised for a more than 45 percent jump in summer output of oilseeds due to favourable weather conditions, after reaping a record winter crop, traders and industry officials said on Thursday.
Published 13 Feb, 2004 12:00am
Eurobonds priced at 6.75 percent

Eurobonds priced at 6.75 percent

A very successful issue of $ 500 million Eurobonds was priced at minimum 6.75 percent after having a book closure of around $2 billion.
Published 13 Feb, 2004 12:00am
CBOT soyaoil sets 15-1/2-year top

CBOT soyaoil sets 15-1/2-year top

Chicago Board of Trade soyabeans ended higher on Wednesday following a rally to fresh 15-1/2-year highs in soyaoil futures on strong Chinese demand and US supply worries, traders said.
Published 13 Feb, 2004 12:00am
Eurobonds priced at 6.75 percent

Eurobonds priced at 6.75 percent

A very successful issue of $ 500 million Eurobonds was priced at minimum 6.75 percent after having a book closure of around $2 billion.
Published 13 Feb, 2004 12:00am
CBOT rice firm in quiet session

CBOT rice firm in quiet session

Chicago Board of Trade rice futures ended higher on Wednesday after a quiet session dominated by spreading of about 700 May/March contracts before the February 27 first notice day for March, traders said.
Published 13 Feb, 2004 12:00am
Eurobonds priced at 6.75 percent

Eurobonds priced at 6.75 percent

A very successful issue of $ 500 million Eurobonds was priced at minimum 6.75 percent after having a book closure of around $2 billion.
Published 13 Feb, 2004 12:00am