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Print - 2004-04-14
IMF launches help for countries hit by trade woes

IMF launches help for countries hit by trade woes

The International Monetary Fund on Tuesday offered extra funding to governments which face balance of payments shortfalls due to increased trade liberalisation, hoping to revive stalled farm talks.
Published 14 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
Bears stage comeback on ISE

Bears stage comeback on ISE

Bulls handed over the floor to the bears at the Islamabad Stock Exchange (ISE), where equities suffered losses under the lead of hot favourite amid decrease in index.
Published 14 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
Bears stage comeback on ISE

Bears stage comeback on ISE

Bulls handed over the floor to the bears at the Islamabad Stock Exchange (ISE), where equities suffered losses under the lead of hot favourite amid decrease in index.
Published 14 Apr, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
Lahore Stock Exchange turns bearish

Lahore Stock Exchange turns bearish

Bearish trend returned to Lahore Stock Exchange (LSE), where equities finished lower amid ascending transaction volume mainly on account of selling pressure in Sui Southern, Fauji Fertiliser, Bank of Punjab and PTCL.
Published 14 Apr, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
Lahore Stock Exchange turns bearish

Lahore Stock Exchange turns bearish

Bearish trend returned to Lahore Stock Exchange (LSE), where equities finished lower amid ascending transaction volume mainly on account of selling pressure in Sui Southern, Fauji Fertiliser, Bank of Punjab and PTCL.
Published 14 Apr, 2004 12:00am
KSE: overdue technical correction sets in

KSE: overdue technical correction sets in

The share prices underwent overdue technical correction on Tuesday after six days of gains as financial institutions and leading brokerage houses sold their holdings to book available capital gains.
Published 14 Apr, 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 Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
KSE: overdue technical correction sets in

KSE: overdue technical correction sets in

The share prices underwent overdue technical correction on Tuesday after six days of gains as financial institutions and leading brokerage houses sold their holdings to book available capital gains.
Published 14 Apr, 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 (April 13, 2004).
Published 14 Apr, 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 (April 13, 2004).
Published 14 Apr, 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 (April 13, 2004).
Published 14 Apr, 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 14 Apr, 2004 12:00am
'National IT Programme' shortly: minister

'National IT Programme' shortly: minister

The Ministry of Information Technology and Telecommunications will present a 'National IT Programme' to the Federal Cabinet shortly.
Published 14 Apr, 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 14 Apr, 2004 12:00am
Thaver appointed SME task force chairman

Thaver appointed SME task force chairman

Convener, Union of Small & Medium Enterprises (Unisame), Zulfikar Thaver has been appointed as Chairman SME Task Force's Working Committee on valuation, monitoring and feedback mechanism.
Published 14 Apr, 2004 12:00am
Islamic Bank removed from KSE defaulters counter

Islamic Bank removed from KSE defaulters counter

The Karachi Stock Exchange (KSE) has removed the Islamic Investment Bank Limited from the defaulters counter after it paid a dividend of 5 percent for the year ended December 31, 2003.
Published 14 Apr, 2004 12:00am
Egypt seeks to buy raw sugar

Egypt seeks to buy raw sugar

Egypt's Sugar and Integrated Industries Company (SIIC) will tender to buy 40,000 tonnes of raw sugar in late April or early May, a senior buying official said on Tuesday.
Published 14 Apr, 2004 12:00am
Islamic Bank removed from KSE defaulters counter

Islamic Bank removed from KSE defaulters counter

The Karachi Stock Exchange (KSE) has removed the Islamic Investment Bank Limited from the defaulters counter after it paid a dividend of 5 percent for the year ended December 31, 2003.
Published 14 Apr, 2004 12:00am
Argentina corn sales higher

Argentina corn sales higher

Argentine export commitments of 2003/04 corn totalled 3.385 million tonnes by Monday, up from 2.99 million tonnes by March 26, the Agriculture Department said on Tuesday.
Published 14 Apr, 2004 12:00am
US seeks Pakistani troops for UN Iraq mission

US seeks Pakistani troops for UN Iraq mission

The United States has asked Pakistan to send troops to protect a future United Nations mission in Iraq, a Foreign Ministry spokesman said on Tuesday.
Published 14 Apr, 2004 12:00am
GCA coffee stocks seen up

GCA coffee stocks seen up

Green Coffee Association stocks for March should expand due to a seasonal increase in the amount of shipments from top grower Brazil, analysts said Tuesday.
Published 14 Apr, 2004 12:00am
US seeks Pakistani troops for UN Iraq mission

US seeks Pakistani troops for UN Iraq mission

The United States has asked Pakistan to send troops to protect a future United Nations mission in Iraq, a Foreign Ministry spokesman said on Tuesday.
Published 14 Apr, 2004 12:00am
Musharraf rejects call to stay as army chief

Musharraf rejects call to stay as army chief

President Pervez Musharraf on Tuesday rejected a call from within his ruling coalition to stay on as head of the army despite a pledge to step down by the end of the year.
Published 14 Apr, 2004 12:00am
Zambia's white maize production to rise

Zambia's white maize production to rise

Zambia will produce 1.4 million tonnes of white maize this year, up from 1.2 million tonnes in 2003 according to a preliminary forecast, a government minister said on Tuesday.
Published 14 Apr, 2004 12:00am
Musharraf rejects call to stay as army chief

Musharraf rejects call to stay as army chief

President Pervez Musharraf on Tuesday rejected a call from within his ruling coalition to stay on as head of the army despite a pledge to step down by the end of the year.
Published 14 Apr, 2004 12:00am
London wheat prices slip

London wheat prices slip

London feed wheat futures fell on Tuesday in mainly spread-based trade, as a handful of operators continued rolling their positions forward from May and into July, dealers said.
Published 14 Apr, 2004 12:00am
Clarification

Clarification

Referring to a news item captioned 'Oil companies defying government procurement policy, published in Business Recorder on April 11, the spokesman of the Ministry of Petroleum and Natural Resources has stated that the news item is not based on fact
Published 14 Apr, 2004 12:00am
Role of Malaysian palm oil highlighted

Role of Malaysian palm oil highlighted

Malaysian Palm Oil Promotion Council (MPOPC) organised a seminar on 'Trends & Developments in Palm Oil Industry' on Tuesday.
Published 14 Apr, 2004 12:00am
Clarification

Clarification

Referring to a news item captioned 'Oil companies defying government procurement policy, published in Business Recorder on April 11, the spokesman of the Ministry of Petroleum and Natural Resources has stated that the news item is not based on fact
Published 14 Apr, 2004 12:00am
Rouen grain exports at 125,910 tonnes

Rouen grain exports at 125,910 tonnes

Grain exports from the French port of Rouen totalled 125,910 tonnes from April 1-7, comprising 110,440 tonnes of wheat and 15,470 tonnes of barley, port officials said on Tuesday.
Published 14 Apr, 2004 12:00am
Taxpayers may get sales tax registration directly

Taxpayers may get sales tax registration directly

In a major step to accelerate sales tax registration process, the Central Board of Revenue (CBR) is seriously considering to allocate sales tax registration numbers to the taxpayers directly instead of Collectorate of Sales Tax from July 1, 2004.
Published 14 Apr, 2004 12:00am
Singapore bunker prices flat

Singapore bunker prices flat

Singapore bunker or ship fuel prices were flat on Tuesday as sluggish post-holiday demand countered support from an overnight rise in benchmark crude.
Published 14 Apr, 2004 12:00am
Taxpayers may get sales tax registration directly

Taxpayers may get sales tax registration directly

In a major step to accelerate sales tax registration process, the Central Board of Revenue (CBR) is seriously considering to allocate sales tax registration numbers to the taxpayers directly instead of Collectorate of Sales Tax from July 1, 2004.
Published 14 Apr, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 116,437 tonnes of cargo including 99,593 tonnes import and 16,844 tonnes export cargo during last 24 hours ending at 0700 hours on Tuesday.
Published 14 Apr, 2004 12:00am
Nine Iraqis killed in Fallujah, 40 hostages held

Nine Iraqis killed in Fallujah, 40 hostages held

Nine Iraqis were killed and 38 wounded on Tuesday in sporadic fire between US forces and insurgents in the flashpoint city of Fallujah, hospital sources said.
Published 14 Apr, 2004 12:00am
FOB Gulf corn and wheat mostly steady

FOB Gulf corn and wheat mostly steady

US FOB Gulf corn and wheat basis offers were mostly steady on Monday with the sell-off in futures for a second straight day doing the work to try to entice more interest from importers, traders said.
Published 14 Apr, 2004 12:00am
Nine Iraqis killed in Fallujah, 40 hostages held

Nine Iraqis killed in Fallujah, 40 hostages held

Nine Iraqis were killed and 38 wounded on Tuesday in sporadic fire between US forces and insurgents in the flashpoint city of Fallujah, hospital sources said.
Published 14 Apr, 2004 12:00am
Thai sugarcane output seen declining: USDA attache

Thai sugarcane output seen declining: USDA attache

The US Agriculture Department's attache in Bangkok released the following report, dated April 7, on the sugar outlook for Thailand. Attache reports are not official USDA data.
Published 14 Apr, 2004 12:00am
High prices dampen Pakistani rice exports

High prices dampen Pakistani rice exports

Pakistani rice exports were thin during the past week as existing orders were shipped but new demand was limited due to high domestic prices of IRRI-6 variety of rice, traders said on Tuesday.
Published 14 Apr, 2004 12:00am
Oil cake market rates

Oil cake market rates

The May vaida opened unchanged at Rs 453.60 and gained 10 paisa to be quoted highest at Rs 453.70. Later in depressed trading it lost Re 1 to turn lowest at Rs 452.70 and closing was also seen at the same amount.
Published 14 Apr, 2004 12:00am
Two deals reported on cotton market

Two deals reported on cotton market

A couple of deals were finalised on cotton market on Tuesday manifesting that spinners would lift lint matching prices with export parity and quality, relevant sources said.
Published 14 Apr, 2004 12:00am
Tunisia seeks to buy soft wheat

Tunisia seeks to buy soft wheat

Tunisian state-run Office des Cereales said on Tuesday it is seeking to buy at least 50,000 tonnes of soft wheat.
Published 14 Apr, 2004 12:00am
Super basmati down on grain market

Super basmati down on grain market

A number of variations were witnessed in commodities in the wholesale markets, amid large business on Tuesday (April 13, 2004).
Published 14 Apr, 2004 12:00am
New York cocoa at fresh six-month low

New York cocoa at fresh six-month low

CSCE cocoa closed at a fresh six-month low on Monday as traders liquidated longs and rolled positions from the nearby May contract a week before its first notice day, traders said.
Published 14 Apr, 2004 12:00am
Oil prices higher on gasoline's strength

Oil prices higher on gasoline's strength

Oil prices rose on Monday, lifted by worries over US gasoline supplies leading into the summer driving season and strong global demand paced by China's booming economy.
Published 14 Apr, 2004 12:00am
NYMEX crude dips as Asia sees more May Saudi oil

NYMEX crude dips as Asia sees more May Saudi oil

NYMEX crude futures fell in electronic dealings on Tuesday after traders said May Saudi oil supplies to Japan and Korea will increase, and some players locked in profits after gains of more than $3.50 in the last six trading sessions.
Published 14 Apr, 2004 12:00am
Main cocoa harvest starts in Sulawesi, quality up

Main cocoa harvest starts in Sulawesi, quality up

The main cocoa harvest has kicked off in Indonesia's main growing belt of Slaws and favourable weather has raised hopes of higher output and better quality, top industry officials said on Tuesday.
Published 14 Apr, 2004 12:00am
Vietnam coffee prices soften

Vietnam coffee prices soften

Trade of robusta beans in Vietnam was undisrupted by last week's ethnic minority unrest in the country's coffee belt, with prices easing in the past week on ample supply of beans, traders said on Tuesday.
Published 14 Apr, 2004 12:00am
Hanoi renews bid to join world pepper body

Hanoi renews bid to join world pepper body

Hanoi has agreed to help fund an entrance fee to enable Vietnam, the world's top grower of black pepper, to join the International Pepper Community (IPC), an industry official said on Tuesday.
Published 14 Apr, 2004 12:00am
New York coffee ends lower despite roaster price hike

New York coffee ends lower despite roaster price hike

CSCE coffee futures closed lower on Monday as speculators and funds liquidated long positions ahead of first notice day, ignoring a price increase by a major roaster, brokers said.
Published 14 Apr, 2004 12:00am
Physical sugar business slow after Easter break

Physical sugar business slow after Easter break

Cash sugar dealings were quiet with premiums steady as players gradually return to their trading desks after the Easter holiday weekend, brokers said Monday.
Published 14 Apr, 2004 12:00am
Indian oils: huge stocks to hit soya and palm imports

Indian oils: huge stocks to hit soya and palm imports

India, the world's largest edible oil importer, has stopped fresh bookings for Soya oil and slowed palm oil purchases following a build-up of stocks at ports and rising domestic supply, traders said on Tuesday.
Published 14 Apr, 2004 12:00am
Nymex crude down on profit-taking ahead of data

Nymex crude down on profit-taking ahead of data

Nymex crude futures inched down on light technical selling on Tuesday as profits were locked in from the previous day's jump, while traders and analysts expect only small movements ahead of weekly oil inventory data.
Published 14 Apr, 2004 12:00am
New York platinum jumps to 24-year high, silver skids

New York platinum jumps to 24-year high, silver skids

Nymex platinum rose almost 4 percent on Monday, ending two weeks of sideways trade and hitting a new a 24-year high with little resistance, since London physical markets remained closed for the Easter holidays.
Published 14 Apr, 2004 12:00am
Platinum retreats on profit-taking after big rise

Platinum retreats on profit-taking after big rise

Platinum prices eased in Asia trading on Tuesday after sprint when buyers took advantage of thin post-holiday activity, leaving the spot contract softer ahead of trading in Europe.
Published 14 Apr, 2004 12:00am
Tokyo rubber barely budges, seeks direction

Tokyo rubber barely budges, seeks direction

Rubber futures on the Tokyo Commodity Exchange mostly stayed flat on Tuesday as traders struggled to find direction in the absence of fresh news.
Published 14 Apr, 2004 12:00am
Malaysian tin ends $20 down as LME pauses

Malaysian tin ends $20 down as LME pauses

Malaysia's tin price settled $20 a tonne lower on Tuesday, extending a correction that began last week as the London market closed two straight days for holidays.
Published 14 Apr, 2004 12:00am
Indian copper to sell 3,500 tonnes of reverts

Indian copper to sell 3,500 tonnes of reverts

India's state-run Hindustan Copper Limited issued global tenders on Tuesday to sell 3,500 tonnes of copper reverts from its Khetri minesin the western state of Rajasthan.
Published 14 Apr, 2004 12:00am
Sugar falls as switches dominate

Sugar falls as switches dominate

CSCE raw sugar futures finished lower on Monday on speculative sales as players came out of the holiday break liquidating positions in spot May ahead of its expiration by the end of the month, analysts said.
Published 14 Apr, 2004 12:00am
Tokyo platinum hit by profit-taking

Tokyo platinum hit by profit-taking

Tokyo platinum futures ran out of steam on Tuesday after meeting heavy profit-taking near session highs as the yen's renewed upward trend gathered momentum and made fund operators nervous about going too long.
Published 14 Apr, 2004 12:00am
China edible oils; palm oil preferred, soyaoil interest wanes

China edible oils; palm oil preferred, soyaoil interest wanes

China, set to overtake India as the world's top buyer of edible oils this year, is expected to scout for cheaper palm oil from Malaysia and Indonesia as summer approaches, instead of soyaoil from South America, traders said.
Published 14 Apr, 2004 12:00am
Australian sheep exports to Jordan jump after Saudi ban

Australian sheep exports to Jordan jump after Saudi ban

Jordan has replaced neighbouring Saudi Arabia as the top market for Australian live sheep after exports to Saudi were banned because of the Cormo Express "ship of shame" incident last year, figures released on Tuesday show.
Published 14 Apr, 2004 12:00am
Soyabeans end at four-week low on profit taking

Soyabeans end at four-week low on profit taking

Soyabean futures at the Chicago Board of Trade closed at a four-week low on Monday, pressured by profit-taking that began last on Thursday when beans ended weaker despite bullish USDA crop data, traders said.
Published 14 Apr, 2004 12:00am
CBOT rice ends weaker

CBOT rice ends weaker

Rough rice futures at the Chicago Board of Trade ended lower on Monday in sympathy with the other CBOT agricultural markets and New York cotton futures, traders said.
Published 14 Apr, 2004 12:00am
Malaysian palm oil ends higher

Malaysian palm oil ends higher

Malaysian crude palm oil (CPO) futures rebounded from four-week lows on Tuesday on talk that big buyer China was poised to take more palm oil than soyaoil for its approaching summer.
Published 14 Apr, 2004 12:00am
New York cotton at fresh eight-month low

New York cotton at fresh eight-month low

NYCE cotton futures ended at a fresh eight-month low on Tuesday on speculative and options-related selling, with more volatility seen in fibre contracts ahead of options expiration in the market on Friday, dealers said.
Published 14 Apr, 2004 12:00am
Russia to cut imports of Belarus white sugar

Russia to cut imports of Belarus white sugar

Russia will stop some imports of white sugar from neighbouring Belarus, which it says is refined from raws while purporting to be derived from beet, Agriculture Minister Alexei Gordeyev said on Tuesday.
Published 14 Apr, 2004 12:00am
London cocoa down

London cocoa down

London cocoa prices closed lower on Tuesday as speculators either got rid of longs or added to their shorts but failed to create any significant crack in the recent support area, which kept recent 29-month continuation lows insulated, dealers said.
Published 14 Apr, 2004 12:00am
France just mulling gold sales: ministry

France just mulling gold sales: ministry

The French finance ministry said Tuesday it was just thinking about using some of the country's gold for future investments or to reduce debt after press reports said talks could begin this week with the Bank of France.
Published 14 Apr, 2004 12:00am
London sugar little changed

London sugar little changed

London sugar futures closed little changed amid switch trading as the market rolled from the May contract into August and arbitrage between the London and New York markets.
Published 14 Apr, 2004 12:00am
London coffee lower

London coffee lower

Speculative and origin offers pressured London coffee prices lower on Tuesday, with roaster support moving lower under the impact of a stronger dollar against major currencies, dealers said.
Published 14 Apr, 2004 12:00am
Gold and silver plunge as dollar rises

Gold and silver plunge as dollar rises

Dollar strength triggered fund selling in the precious metals markets on Tuesday in Europe, with gold shedding just over three percent and silver nearly eight percent to hit joint four-week lows.
Published 14 Apr, 2004 12:00am
LME base metals lower on long liquidation

LME base metals lower on long liquidation

Copper held above one-month lows at Tuesday's kerb close on the London Metal Exchange (LME) weighed by long liquidation, with most other metals also softer as investors sat on the sidelines, analysts and traders said.
Published 14 Apr, 2004 12:00am
US MIDDAY: cocoa down on some fund sales

US MIDDAY: cocoa down on some fund sales

CSCE cocoa futures settled lower Tuesday but off their session lows as some fund sales, along with continued fund rollover in the May contract, was offset by some manufacturing buying, floor sources said.
Published 14 Apr, 2004 12:00am
US MIDDAY: sugar softer on speculative fund sales

US MIDDAY: sugar softer on speculative fund sales

CSCE raw sugar futures ended lower Tuesday on speculative fund sales from investors rolling positions out of spot May before it expires by the end of the month, dealers said.
Published 14 Apr, 2004 12:00am
US MIDDAY: wheat falls on profit-taking

US MIDDAY: wheat falls on profit-taking

Broad-based fund long-liquidation and profit-taking drove Chicago Board of Trade wheat futures sharply lower early on Tuesday, traders said.
Published 14 Apr, 2004 12:00am