News Archives for Print - 2004-05-28

Print - 2004-05-28

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Lufthansa sells US catering business to Questor

Deutsche Lufthansa is selling Chef Solutions, a US maker of ready meals that is part of its catering business, to US financial investor Questor Partners Fund II, the German airline said on Thursday.

Published 28 May, 2004 12:00am

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Lufthansa sells US catering business to Questor

Deutsche Lufthansa is selling Chef Solutions, a US maker of ready meals that is part of its catering business, to US financial investor Questor Partners Fund II, the German airline said on Thursday.

Published 28 May, 2004 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Kerry victory won't kill trade pact: Honduran envoy

Central America is optimistic the United States will approve a new free trade pact even if Democrat John Kerry wins the presidential election in November, a Honduran official said on Wednesday.

Published 28 May, 2004 12:00am

Banks' rates for currency notes (buying and selling)

The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

US and Sadr agree truce in Najaf

US forces agreed to a truce offered by Iraqi cleric Moqtada al-Sadr in the holy city of Najaf on Thursday, suspending their attacks and allowing Sadr's Mehdi Army fighters to pull out of the city.

Published 28 May, 2004 12:00am

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 (May 27, 2004).

Published 28 May, 2004 12:00am

US and Sadr agree truce in Najaf

US forces agreed to a truce offered by Iraqi cleric Moqtada al-Sadr in the holy city of Najaf on Thursday, suspending their attacks and allowing Sadr's Mehdi Army fighters to pull out of the city.

Published 28 May, 2004 12:00am

Interest rates on new foreign currency deposits

Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

PIAC to pay dividend after nine years

The Pakistan International Airlines Corporation (PIAC) said the national carrier would pay a dividend for the year ending December 31, 2004 after nine years.

Published 28 May, 2004 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

PIAC to pay dividend after nine years

The Pakistan International Airlines Corporation (PIAC) said the national carrier would pay a dividend for the year ending December 31, 2004 after nine years.

Published 28 May, 2004 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

PIAC to pay dividend after nine years

The Pakistan International Airlines Corporation (PIAC) said the national carrier would pay a dividend for the year ending December 31, 2004 after nine years.

Published 28 May, 2004 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

PIA to increase Haj fare by 20 percent

Pakistan International Airlines Corporation (PIAC) has decided to increase Haj fare by 20 percent for the upcoming season keeping in view the unprecedented increase of oil prices in the international market.

Published 28 May, 2004 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

PIA to increase Haj fare by 20 percent

Published 28 May, 2004 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Pakistan's foreign exchange reserves at $12.525 billion

The foreign exchange reserves did not see any significant change during the week and it remained stick around $12.525 billion.

Published 28 May, 2004 12:00am

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 28 May, 2004 12:00am

Pakistan's foreign exchange reserves at $12.525 billion

The foreign exchange reserves did not see any significant change during the week and it remained stick around $12.525 billion.

Published 28 May, 2004 12:00am

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 28 May, 2004 12:00am

Bears take control of ISE

Bears returned in the driving seat at the Islamabad Stock Exchange (ISE) where selling pressure in heavyweights moved the entire ready-board in minus zone amid decrease in index.

Published 28 May, 2004 12:00am

Karachi interbank rates

Karachi interbank rates on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Bears take control of ISE

Bears returned in the driving seat at the Islamabad Stock Exchange (ISE) where selling pressure in heavyweights moved the entire ready-board in minus zone amid decrease in index.

Published 28 May, 2004 12:00am

Singapore bunker fuel prices stable

Singapore bunker or ship fuel prices were stable on Thursday as ship-owners came back into the market to buy as benchmark crude and oil product cargo prices fell from recent peaks, traders said.

Published 28 May, 2004 12:00am

Sluggish activity on LSE

Activity remained sluggish on the Lahore Stock Exchange (LSE), as investors adopted a cautious approach in reaction to the last day's Karachi bomb explosions.

Published 28 May, 2004 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 84,388 tonnes of cargo including 57,526 tonnes import and 26,862 tonnes export cargo during last 24 hours ending at 0700 hours on Thursday.

Published 28 May, 2004 12:00am

Sluggish activity on LSE

Activity remained sluggish on the Lahore Stock Exchange (LSE), as investors adopted a cautious approach in reaction to the last day's Karachi bomb explosions.

Published 28 May, 2004 12:00am

Chinese sugar imports likely to rise

China's sugar imports are expected to rise to more than three million tonnes a year by the turn of the decade as consumption overtakes local supply, an industry official said on Thursday.

Published 28 May, 2004 12:00am

Law and order situation clips KSE gains

The city situation marred further advancement in share prices where index moved in a tight band and selling heralded in pivotal barring the cement sector.

Published 28 May, 2004 12:00am

CBOT wheat futures higher amid worries

Soft red winter wheat futures at the Chicago Board of Trade closed higher on Wednesday amid worries that US winter wheat may be damaged by harsh weather, traders said.

Published 28 May, 2004 12:00am

Law and order situation clips KSE gains

The city situation marred further advancement in share prices where index moved in a tight band and selling heralded in pivotal barring the cement sector.

Published 28 May, 2004 12:00am

Indonesian sugar output may hit three million tonnes by 2007

Indonesian sugar output may hit 2.5-3.0 million tonnes by 2007, from current year estimates of 1.8 million, if farm aids are improved and imports gradually reduced, an industry official said on Thursday.

Published 28 May, 2004 12:00am

PNSC, BSC asked to start Chittagong and Mongla to Karachi service

The 15th annual general meeting (AGM) of the Association of Shippers Councils of Bangladesh, India, Pakistan and Sri Lanka (ASCOBIPS) held in Dhaka has recommended that Pakistan National Shipping Corporation (PNSC) and Bangladesh Shipping Corporation (BSC

Published 28 May, 2004 12:00am

French new crop rapeseed prices tumble

French new crop rapeseed prices tumbled further on Thursday after a sharp fall in Malaysian palm oil futures and the dollar's drop against the euro, traders said.

Published 28 May, 2004 12:00am

Duty relief on CNG apparatus may be extended by one year

The government may extend exemption of duties and taxes on the import of compressed natural gas (CNG) machinery/equipment, compressors and allied apparatus for another one year from fiscal 2004-05.

Published 28 May, 2004 12:00am

Pakistan's edible oil prices fall sharply

Pakistan's domestic edible oil prices fell sharply over the past week in line with international trends, which would boost imports in coming weeks, dealers said on Thursday.

Published 28 May, 2004 12:00am

Duty relief on CNG apparatus may be extended by one year

The government may extend exemption of duties and taxes on the import of compressed natural gas (CNG) machinery/equipment, compressors and allied apparatus for another one year from fiscal 2004-05.

Published 28 May, 2004 12:00am

FOB Gulf corn, soya and wheat steady

US FOB Gulf corn basis offers stayed very firm on Wednesday with capacity mostly sold out through first-half June and a firm barge market underscoring the competition for tight domestic stocks, traders said.

Published 28 May, 2004 12:00am

Lowari tunnel project may hit snags again

The much-delayed decades old Lowari Rail Tunnel project worth 45 million euros might hit snags again, as Finance Division has not released the required Rs 200 million to initiate construction work despite strict directives of President Pervez Musharraf to

Published 28 May, 2004 12:00am

Rapid rise in cotton prices

Lint prices have risen by Rs 100 to Rs 200 per maund (37.32kg) during the last week or 10 days denoting a firm price sentiment prevailing in the market.

Published 28 May, 2004 12:00am

Lowari tunnel project may hit snags again

Published 28 May, 2004 12:00am

Rapid rise in cotton prices

Lint prices have risen by Rs 100 to Rs 200 per maund (37.32kg) during the last week or 10 days denoting a firm price sentiment prevailing in the market.

Published 28 May, 2004 12:00am

Al Qaeda and Harkat behind Karachi blasts: Minister

The authorities said on Thursday they suspected a network of extremists, possibly aided by al Qaeda, were behind a double car bomb attack near Pakistan American Cultural Centre (PACC) here in which a policeman was killed and 32 people injured.

Published 28 May, 2004 12:00am

Oil cake market rates

The July vaida opened unchanged at Rs 479.10, and rose by 20 paisa in the subsequent trading to claim to be the highest at Rs 478.30. Lowest was marked at Rs 478.30, while closing was also seen at the same amount.

Published 28 May, 2004 12:00am

Plea to conduct proceedings in Karachi rejected

The Election Commission of Pakistan adjourned further hearing regarding by-elections of Karachi for June 2 while rejecting the appeal to conduct the proceedings at Karachi.

Published 28 May, 2004 12:00am

Rising prices make spinners restless on cotton market

Rising price trend in the cotton market has made relaxing spinners restless who have started mopping every available quality lots, sources on Thursday said.

Published 28 May, 2004 12:00am

Accounts in IAS increase

Recently, the Central Depository Company of Pakistan Limited (CDC) had announced that the number of accounts in its Investor Account Services (IAS) have crossed over 8,500.

Published 28 May, 2004 12:00am

US exporters sell corn

Private exporters reported the sale of 165,000 tonnes of US corn for delivery to unknown destinations, the US Agriculture Department said on Thursday.

Published 28 May, 2004 12:00am

New Indian government to pursue peace with Pakistan

India's new left-leaning government said on Thursday the new administration would maintain the peace process with Pakistan launched by the previous government, but gave no details.

Published 28 May, 2004 12:00am

Modest business seen on Jodia Bazar

A few changes were marked in Kirana items on the Jodia Bazar amid modest business on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

New Indian government to pursue peace with Pakistan

India's new left-leaning government said on Thursday the new administration would maintain the peace process with Pakistan launched by the previous government, but gave no details.

Published 28 May, 2004 12:00am

Grain market depicts some changes

Seed and gram varieties transpired some changes on the seed and grain wholesale markets on Thursday (May 27, 2004).

Published 28 May, 2004 12:00am

Junior army and air force officers tried to kill me: Musharraf

President Pervez Musharraf revealed on Thursday that junior army and air force officers were involved in attempts to kill him last December and would soon go on trial, but that the mastermind remains at large.

Published 28 May, 2004 12:00am

CSCE coffee up on speculative buying by funds

CSCE coffee futures settled higher on Wednesday on heavy speculative buying by funds, although stiff producer sales sharply pared the market's rally, brokers said.

Published 28 May, 2004 12:00am

Junior army and air force officers tried to kill me: Musharraf

Published 28 May, 2004 12:00am

CSCE cocoa lower on profit-taking

CSCE cocoa futures ended moderately lower on Wednesday after carving out nearly the same range as the day before, with some players deciding to grab quick profits as cocoa consolidates recent declines to contract lows, traders said.

Published 28 May, 2004 12:00am

USDA restores organic milk labelling guidance

Facing criticism from organic food makers and consumer groups, the US Agriculture Department on Wednesday rescinded a decision that would have allowed milk to be labelled as "organic" even if it came from a cow treated with antibiotics.

Published 28 May, 2004 12:00am

US cotton sales seen slow as season winds down

US upland cotton sales should ease in the weekly USDA export sales report as the pace of business slows with the season entering its last few weeks, brokers said Wednesday.

Published 28 May, 2004 12:00am

Australian wool indicator falls

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) fell two cents to 790 cents a kg clean at sales on Thursday.

Published 28 May, 2004 12:00am

Gold climbs in Asia

Gold rose about $2 an ounce in Asia on Thursday, supported by sentiment that bullion was cheap after it slipped in US trade.

Published 28 May, 2004 12:00am

Tokyo gold hits five-week high

Benchmark Tokyo gold futures advanced to a fresh five-week high of above 1,400 yen per gram on Thursday as recent falls in the dollar encouraged investors to buy back the precious metal, traders said.

Published 28 May, 2004 12:00am

New York copper softens, ignores weak data

Comex copper ended with modest declines on Wednesday after remaining firm for most of the session, cushioned by dollar weakness, but volume was light and moves in both directions were undramatic, traders said.

Published 28 May, 2004 12:00am

Comex gold lower after rally fizzles

Comex gold forfeited gains but retained its shine on Wednesday, ending fractionally lower on pre-holiday profit taking and fund liquidation before the June contract goes into delivery on Friday.

Published 28 May, 2004 12:00am

German rye and barley sought for EU resale

Bids were submitted to purchase 9,761 tonnes of European Union intervention rye in German stocks, 1,000 tonnes of German barley but no wheat in the EU's domestic market resale tender, agricultural agency BLE said on Thursday. Prices were not announced.

Published 28 May, 2004 12:00am

Malaysian tin jumps on foreign demand

Malaysian tin extended gains on Thursday, buoyed by strong foreign demand and further advance in the price of the metal in London.

Published 28 May, 2004 12:00am

China unveils cotton futures rules for state firms

China has laid down rules for state-owned firms intending to trade domestic cotton futures in a bid to temper the kind of market speculation that forced the government to shut down dozens of exchanges in the mid-1990s.

Published 28 May, 2004 12:00am

Tokyo rubber rebounds in active short-covering

Tokyo rubber futures rebounded on Thursday in active short-covering active after the market had slid to a one-week low the previous day brokers said.

Published 28 May, 2004 12:00am

Oil down in Asian markets

Oil prices fell back towards $40 a barrel on Thursday despite lower US inventories as the market pondered whether a rally stoked by tight auto fuel supplies in the world's biggest oil consumer had run its course.

Published 28 May, 2004 12:00am

China set to cancel millions of tonnes of soya imports

Many crushers in China, the world's top soya importer, are seeking to cancel or delay shipment of high-priced South American cargoes, threatening contracts for millions of tonnes of the oilseed, traders said on Thursday.

Published 28 May, 2004 12:00am

ISO sees modest bounce in 2004-05 sugar prices

Large sugar stocks in China and India should keep world prices weak near term, but surpluses should eventually ebb, mildly lifting prices in the next crop year, the International Sugar Organisation said on Thursday.

Published 28 May, 2004 12:00am

CSCE sugar firm on speculative fund buying

CSCE raw sugar futures ended firmer on Wednesday on speculative fund buying, but producer sales capped the advance, although fund accounts may mount another probe of higher ground this week, brokers said.

Published 28 May, 2004 12:00am

Soyabeans down on lack of fresh exports news

Chicago Board of Trade soyabeans ended mostly lower on Wednesday on a lack of fresh export news and profit-taking after nearby July failed to top on Tuesday's high, brokers said.

Published 28 May, 2004 12:00am

Malaysian palm oil ends down on export

Malaysian crude palm oil futures closed at their lowest in more than seven months on Thursday as players were unnerved by fears of more cancellations of cargoes by China and a sharp drop in May exports.

Published 28 May, 2004 12:00am

CBOT rice slips on speculative sales

Chicago Board of Trade rough rice futures settled lower on Wednesday after speculative commodity funds sales triggered sell stops, brokers said. CBOT rough rice settled down 16-1/2 cents to 28-1/2 cents per cwt, with July rice down 28-1/2 cents at $10.48

Published 28 May, 2004 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 3	278.23
USD PKR Interbank Buying / May 3	278.03
USD to Japanese Yen / May 3	153.05
USD to Swiss Franc / May 3	0.91
Pound Sterling to USD / May 3	1.25
Euro to USD / May 3	1.08

Stock	Volume
S&P 500 / May 3	5127.79
India Sensex / May 3	73878.15
Tokyo Nikkei / May 3	38236.07
Nasdaq / May 3	16156.33
Hang Seng / May 3	18475.92
FTSE 100 / May 3	8213.49
Dow Jones / May 3	38675.68
Germany DAX 30 / May 3	18001.60

Item	Value
Crude Oil USD/Barrel / May 3	78.11
Karachi Cotton PKR/37.32 KG / May 3	20535
Gold 10 Grams PKR / May 3	205418
Gold Spot USD/Ounce / May 3	2301.74
Cotton US¢/pound / May 3	78.06
Petrol/Litre / May 4	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 4 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 4 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 4 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 4 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 4 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 4 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 4 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 4 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 4 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 4 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 4 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 4 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 4 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 4 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 4 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 4 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 4 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 4 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 4 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 4 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 4 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 4 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 4 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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