News Archives for Print - 2004-08-12

US treasuries bid prices

US treasuries bid prices on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Alternative dispute resolution: CBR issues draft procedure

The taxpayers have been given facility to resolve disputes relating to income tax liability, admissibility of refund and waiver/fixation of penalty or fine under 'income tax alternative dispute resolution'.

Published 12 Aug, 2004 12:00am

US treasuries bid prices

US treasuries bid prices on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

National Assembly session summoned on August 13

President General Pervez Musharraf has summoned the National Assembly session to meet in the Parliament Building, Islamabad on August 13 (Friday) at 5.00 pm, a notification issued here on Wednesday said.

Published 12 Aug, 2004 12:00am

US treasuries bid prices

US treasuries bid prices on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Drawback rate on propylene reduced

The Central Board of Revenue (CBR) has reduced duty drawback rate on export of propylene/polyethylene for packing from August 11, 2004.

Published 12 Aug, 2004 12:00am

Open market rates of foreign currencies

Open market rates of foreign currencies supplied by the Forex Association of Pakistan on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Drawback rate on propylene reduced

The Central Board of Revenue (CBR) has reduced duty drawback rate on export of propylene/polyethylene for packing from August 11, 2004.

Published 12 Aug, 2004 12:00am

London Interbank Offered Rates

London Interbank Offered Rates (LIBOR) on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

CBR explains rate of sales tax on machinery import

The Central Board of Revenue (CBR) has directed custom authorities at ports/dryports not to charge sales tax on the import of all types of machinery and equipment covered under all the concessionary customs notifications.

Published 12 Aug, 2004 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

CBR explains rate of sales tax on machinery import

The Central Board of Revenue (CBR) has directed custom authorities at ports/dryports not to charge sales tax on the import of all types of machinery and equipment covered under all the concessionary customs notifications.

Published 12 Aug, 2004 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

PML-N asks CEC to reject Shaukat's nomination

Pakistan Muslim League (N) has demanded of the Chief Election Commissioner (CEC) and Chief Justice of Pakistan to reject Finance Minister Shaukat Aziz's nomination for upcoming by-elections accusing him of submitting wrong details of his assets.

Published 12 Aug, 2004 12:00am

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

WFP launches nutrition pilot project in Sindh rural areas

The UN World Food Programme (WFP) has embarked on an 18-month pilot nutrition intervention rural mothers and infants project, using a high protein blended food mix fortified with vitamins and minerals.

Published 12 Aug, 2004 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Japanese foreign minister calls on President and Prime Minister

The Japanese Foreign Minister, Ms. Yoriko Kawaguchi, called on President General Pervez Musharraf and Prime Minister Chaudhry Shujaat Hussain on Wednesday morning.

Published 12 Aug, 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 Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

'Pakistan offers good opportunities to Japanese businessmen'

Japanese Foreign Minister Yoriko Kawaguchi on Wednesday appreciated the economic progress made by Pakistan and said that Pakistan offers good opportunities to Japanese businessmen.

Published 12 Aug, 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 Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Kasuri to visit Japan in November

Foreign Minister Khurshid Mahmood Kasuri has accepted an invitation to visit Japan to resume talks with the Japanese leaders in Tokyo on the bilateral relations.

Published 12 Aug, 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 Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

VNU tops profit views as TV, retail trackers shine

VNU, the world's largest market research firm, topped expectations with 7 percent first-half profit growth on Wednesday, helped by one-time tax gains and a swing to higher revenue at its key TV and retail tracking units.

Published 12 Aug, 2004 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Fear of recovery's strength raised by Cisco and others

Technology spending appears to be faltering, judging from cautious comments, rising inventories and a weaker-than-expected sales outlook at Cisco Systems Inc as well as bad news from other technology companies.

Published 12 Aug, 2004 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Russia sees last FTO verification by early 2005

Russia's state debt agent Vneshekonombank (VEB) hopes to complete verification of the remaining $50-70 million of Soviet-era trade debt by the end of 2004 or start of 2005, a VEB official said on Wednesday.

Published 12 Aug, 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 Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Pakistani Basmati road show to be held in Colombo

A Pakistani Basmati road show will be held in Colombo during Ramazan to introduce its varieties in Sri Lanka. This was stated by the High Commissioner of Sri Lanka Bashir Wali during a visit to the office of Rice Exporters Association of Pakistan (Reap) a

Published 12 Aug, 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 Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Pakistani Basmati road show to be held in Colombo

A Pakistani Basmati road show will be held in Colombo during Ramazan to introduce its varieties in Sri Lanka. This was stated by the High Commissioner of Sri Lanka Bashir Wali during a visit to the office of Rice Exporters Association of Pakistan (Reap) a

Published 12 Aug, 2004 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Cloth exporters asked to explore European and North American markets

State Bank Governor Dr Ishrat Hussain has expressed hope on next three years to bring golden opportunity for textile exporters to capture North American and European markets before China enters the hitherto quota-free market.

Published 12 Aug, 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 12 Aug, 2004 12:00am

Iraq's oil pipeline in south repaired

Crews finished repairing a main pipeline in southern Iraq on Wednesday after sabotage stopped operations for three days and forced exports to run at a reduced rate, oil officials said.

Published 12 Aug, 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 12 Aug, 2004 12:00am

Mercosur and EU begin last ditch trade talks

Latin America's Mercosur trade bloc resumed talks on a free trade deal with the European Union on Tuesday, warning that a deal was unlikely if Europe did not offer improved market access for farm goods.

Published 12 Aug, 2004 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Japan to set postal reform plan, big change doubted

Japan will soon say how it plans to privatise its postal service, Prime Minister Junichiro Koizumi's biggest and most controversial economic reform project to date and one that many say could be heading for a messy compromise.

Published 12 Aug, 2004 12:00am

Russian physical sugar demand subdued

Russian demand for physical sugar is quiet in the run-up to the country's beet harvest, the International Sugar Organisation (ISO) said on Wednesday.

Published 12 Aug, 2004 12:00am

German CPI data suggests only small eurozone cut

Germany on Wednesday revised a key measure of July inflation higher, prompting analysts to suggest that progress in taming eurozone price pressures may be slower than expected.

Published 12 Aug, 2004 12:00am

FOB Gulf corn firm, harvest weighs soyabean

US FOB Gulf corn basis offers were firm on Tuesday amid rising barge freight and slow farmer selling, while soyabeans were weak on harvest pressure.

Published 12 Aug, 2004 12:00am

Picic Bank declares 15 percent dividend

Picic Commercial Bank has posted a record pre-tax profit of Rs 556 million for the first half of the year ended June 30, 2004, showing a rise of about 70 percent as compared to the corresponding period of the last year.

Published 12 Aug, 2004 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 62,922 tonnes of cargo including 47,822 tonnes import and 15,100 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday.

Published 12 Aug, 2004 12:00am

Picic Bank declares 15 percent dividend

Picic Commercial Bank has posted a record pre-tax profit of Rs 556 million for the first half of the year ended June 30, 2004, showing a rise of about 70 percent as compared to the corresponding period of the last year.

Published 12 Aug, 2004 12:00am

CBOT wheat down as global output up

Soft red winter (SRW) wheat futures at the Chicago Board of Trade closed lower on Tuesday amid increasing global wheat production and a decline in soya, traders said.

Published 12 Aug, 2004 12:00am

Picic Bank declares 15 percent dividend

Picic Commercial Bank has posted a record pre-tax profit of Rs 556 million for the first half of the year ended June 30, 2004, showing a rise of about 70 percent as compared to the corresponding period of the last year.

Published 12 Aug, 2004 12:00am

Singapore bunker fuel prices stable

Singapore bunker prices were steady on Wednesday as spot fuel oil cargo levels fell marginally.

Published 12 Aug, 2004 12:00am

Mari Gas granted sale licence

The Oil and Gas Regulatory Authority (Ogra) on Wednesday granted licence to Mari Gas Company Limited for sale of natural gas from Mari gas field to five categories of consumers/companies.

Published 12 Aug, 2004 12:00am

Ukraine exports 140,800 tonnes grain in July

Ukraine exported 140,800 tonnes of grain through its sea ports in July, the first month of the new 2004/05 (July-June) season, analysts said on Wednesday, quoting data from ports.

Published 12 Aug, 2004 12:00am

Mari Gas granted sale licence

The Oil and Gas Regulatory Authority (Ogra) on Wednesday granted licence to Mari Gas Company Limited for sale of natural gas from Mari gas field to five categories of consumers/companies.

Published 12 Aug, 2004 12:00am

Brazilian cocoa arrivals down 38.2 percent

Brazil's 2004/05 (May/April) cocoa arrivals in Bahia state totalled 852,157 60-kg bags by August 8, down 38.2 percent from 1.38 million bags a year ago, the Bahia Commercial Association said on Wednesday.

Published 12 Aug, 2004 12:00am

Japan to consider resuming yen loans

Japan has promised to consider resumption of yen loans to Pakistan, which were suspended in the aftermath of 1998 nuclear tests, and in the meanwhile has agreed to send a mission to assess various projects under the 'five-year assistance programme for Pak

Published 12 Aug, 2004 12:00am

Palm oil imports seen rising on Ramazan demand

Pakistan's palm oil imports, after languishing in the first week of August, are expected to rise in coming weeks ahead of a jump in consumption during the Muslim fasting month of Ramazan, dealers said on Wednesday.

Published 12 Aug, 2004 12:00am

Japan to consider resuming yen loans

Japan has promised to consider resumption of yen loans to Pakistan, which were suspended in the aftermath of 1998 nuclear tests, and in the meanwhile has agreed to send a mission to assess various projects under the 'five-year assistance programme for Pak

Published 12 Aug, 2004 12:00am

US Midwest crushers boost soyabean bids

Strong demand from soya processors lifted cash soyabean basis bids in the US Midwest on Wednesday while corn bids were mostly steady to firm amid quiet farmer selling, dealers said.

Published 12 Aug, 2004 12:00am

Union Bank first-half results announced

Union Bank Limited has announced its results for the first half of 2004. The Board has approved an issue of one bonus share for every 10 shares held for the financial year 2004.

Published 12 Aug, 2004 12:00am

Record Brazilian sugar exports seen despite damp harvest

Brazilian sugarcane producers are taking advantage of a rare dry spell to catch up on a rain-delayed harvest which reduced sugar yields but could still result in record exports.

Published 12 Aug, 2004 12:00am

Union Bank first-half results announced

Union Bank Limited has announced its results for the first half of 2004. The Board has approved an issue of one bonus share for every 10 shares held for the financial year 2004.

Published 12 Aug, 2004 12:00am

India cools on palm oil, but seen hungry in 2 months

India, the world's top edible oils buyer, is trying to hold off on palm oil purchases this month due to high tariffs and cargo rates as well as slack consumer demand, industry sources said on Wednesday.

Published 12 Aug, 2004 12:00am

Union Bank first-half results announced

Union Bank Limited has announced its results for the first half of 2004. The Board has approved an issue of one bonus share for every 10 shares held for the financial year 2004.

Published 12 Aug, 2004 12:00am

Oil cake market rates

Both futures were lower on the forward cottonseed oilcake market on Wednesday amid modest trading.

Published 12 Aug, 2004 12:00am

ISE index loses 69.97 points

Market players and genuine traders offloaded their positions on the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready-board in downward direction amid increase in index.

Published 12 Aug, 2004 12:00am

Modest trading reported on cotton market

Modest trading was seen on cotton market on Wednesday as spinners and mills both actively participated in trading owing to matching prices with their psychological levels, dealers said.

Published 12 Aug, 2004 12:00am

ISE index loses 69.97 points

Market players and genuine traders offloaded their positions on the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready-board in downward direction amid increase in index.

Published 12 Aug, 2004 12:00am

Chemicals mixed on Jodia Bazaar

A few changes were seen on the Jodia Bazaar on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Across-the-board losses on LSE

Equities registered losses across the board on the Lahore Stock Exchange (LSE) amid reduced transaction volume partly on account of technical correction and lacking interest on the part of investors.

Published 12 Aug, 2004 12:00am

Cottonseed oilcake up on grain market

Cottonseed oilcake improved with modest gain in the local grain market on Wednesday (August 11, 2004).

Published 12 Aug, 2004 12:00am

Across-the-board losses on LSE

Equities registered losses across the board on the Lahore Stock Exchange (LSE) amid reduced transaction volume partly on account of technical correction and lacking interest on the part of investors.

Published 12 Aug, 2004 12:00am

Coffee slips in New York

NYBOT arabica coffee futures settled lower in an uneventful session on Tuesday, as most activity was focused on contract switching and spread trading, analysts and traders said.

Published 12 Aug, 2004 12:00am

Bears hold sway on KSE

The share market on Wednesday remained unsettled and shaky to close at 5,352.95, after it registered a decline of 15 points with the trading volume of 167 million only.

Published 12 Aug, 2004 12:00am

New York cocoa rallies

NYBOT cocoa front futures rose over 2 percent on speculator buying in an active session on Tuesday, despite favourable crop weather forecast for cocoa-rich Ivory Coast, traders and analysts said.

Published 12 Aug, 2004 12:00am

Bears hold sway on KSE

The share market on Wednesday remained unsettled and shaky to close at 5,352.95, after it registered a decline of 15 points with the trading volume of 167 million only.

Published 12 Aug, 2004 12:00am

Analysts expect USDA to edge US soya crop estimate up

The US grain analysts generally expect a record large soybean crop to be harvested this fall but most also say the jury is still out on final yields.

Published 12 Aug, 2004 12:00am

Trade talks with Delhi end without progress

Pak-India trade talks ended here on Wednesday without making any concrete progress on important trade-related issues. Both the sides remained hard on their status positions and, therefore, each other's demands could be called as reminder only.

Published 12 Aug, 2004 12:00am

US cotton crop tipped as largest since 1994

The US cotton crop will likely be the biggest in 10 years, due to near ideal weather across the American cotton belt, and analysts said on Tuesday the cotton futures market has only partially priced in what is shaping up to be a bearish government crop re

Published 12 Aug, 2004 12:00am

Trade talks with Delhi end without progress

Pak-India trade talks ended here on Wednesday without making any concrete progress on important trade-related issues. Both the sides remained hard on their status positions and, therefore, each other's demands could be called as reminder only.

Published 12 Aug, 2004 12:00am

Malaysian tin up $45 on LME strength

Malaysian tin rose $45 on Wednesday as buying interest surged on the local market after the metal's value closed up in London trade a day ago.

Published 12 Aug, 2004 12:00am

Fresh Indian allegations rejected on cross-border terrorism

India has again accused Pakistan, of backing freedom fighters active in occupied Kashmir, on final day of two-day bilateral inconclusive talks here on Wednesday.

Published 12 Aug, 2004 12:00am

Comex copper up on short-covering

Comex copper futures bounced back from Tuesdays slippage to 12-day lows on Tuesday to finish higher on Wednesday before a US Federal Reserve decision on interest rates and its effect on the dollar, brokers said.

Published 12 Aug, 2004 12:00am

Fresh Indian allegations rejected on cross-border terrorism

India has again accused Pakistan, of backing freedom fighters active in occupied Kashmir, on final day of two-day bilateral inconclusive talks here on Wednesday.

Published 12 Aug, 2004 12:00am

Tokyo platinum powers to new two-month high, gold eases

Tokyo platinum futures rallied to a fresh two-month high on Wednesday on purchases by Japanese retail investors and fund operators that intensified after breaking key resistance with strong fundamentals backing sentiment.

Published 12 Aug, 2004 12:00am

TCP hoodwinked to buy Russian wheat: experts

The Trading Corporation of Pakistan (TCP), it appears, has been hoodwinked to buy hard red wheat, according to experts who spoke about the TCP tender to the Business Recorder on condition of anonymity.

Published 12 Aug, 2004 12:00am

Comex gold drifts lower, Fed move seen neutral

Comex gold traded a tight range on Tuesday in the run-up to the widely expected Federal Reserve announcement after the precious metals market closed that US interest rates would go up another quarter percentage point, even as it acknowledged economic grow

Published 12 Aug, 2004 12:00am

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	157.31
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 31	5277.51
India Sensex / May 31	73961.31
Tokyo Nikkei / May 31	38487.90
Nasdaq / May 31	16735.02
Hang Seng / May 31	18079.61
FTSE 100 / May 31	8275.38
Dow Jones / May 31	38686.32
Germany DAX 30 / May 31	18497.94

Item	Value
Crude Oil USD/Barrel / May 31	76.99
Karachi Cotton PKR/37.32 KG / May 31	19935
Gold 10 Grams PKR / May 31	207219
Gold Spot USD/Ounce / May 31	2327.33
Cotton US¢/pound / May 31	75.11
Petrol/Litre / Jun 1	268.36

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 1 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 1 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 1 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 1 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 1 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 1 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 1 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 1 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 1 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 1 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 1 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 1 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 1 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 1 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 1 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 1 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 1 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 1 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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