News Archives for Print - 2004-10-22

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 (October 21, 2004).

Published 22 Oct, 2004 12:00am

French schools expel Muslim girls as anti-headscarf law bites

France's state schools grappling with a new law banning headscarves have started expelling students refusing to put education before their religion.

Published 22 Oct, 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 (October 21, 2004).

Published 22 Oct, 2004 12:00am

US commander of supply company relieved of duty

The commander of a supply company whose soldiers refused to go on fuel convoy through Iraq's rebel heartland was relieved of her duties Thursday, her commanding general announced.

Published 22 Oct, 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 (October 21, 2004).

Published 22 Oct, 2004 12:00am

Officers charged with bid to overthrow Nigerian government, kill Obasanjo

Nigerian prosecutors on Thursday charged three senior military officers and a Lagos businessman with plotting to shoot down President Olusegun Obasanjo's helicopter and topple his government in a violent coup.

Published 22 Oct, 2004 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Thursday (October 21, 2004).

Published 22 Oct, 2004 12:00am

Darfur peace talks delayed as AU prepares troops

A transport mix-up delayed the start of a new round of peace talks on Sudan's Darfur region on Thursday, as the African Union prepared to deploy thousands of new troops to monitor renewed fighting in the remote province.

Published 22 Oct, 2004 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Thursday (October 21, 2004).

Published 22 Oct, 2004 12:00am

Country won't be deterred by terrorist acts: Musharraf

President General Pervez Musharraf on Thursday said Pakistan will not be deterred with sporadic terrorist activities aimed at tarnishing the country's image and sabotaging the domestic peace. He stated this while presiding over a day-long Corps Commanders

Published 22 Oct, 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 (October 21, 2004).

Published 22 Oct, 2004 12:00am

Country won't be deterred by terrorist acts: Musharraf

President General Pervez Musharraf on Thursday said Pakistan will not be deterred with sporadic terrorist activities aimed at tarnishing the country's image and sabotaging the domestic peace. He stated this while presiding over a day-long Corps Commanders

Published 22 Oct, 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 (October 21, 2004).

Published 22 Oct, 2004 12:00am

SBP lets rupee sink to act on inflation

The State Bank of Pakistan (SBP) said on Thursday it had not tried to stop the rupee from falling to three-year lows, but would act on rising inflation which is on track to top its target for this financial year. High prices for imported oil have widened

Published 22 Oct, 2004 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (October 21, 2004).

Published 22 Oct, 2004 12:00am

SBP lets rupee sink to act on inflation

The State Bank of Pakistan (SBP) said on Thursday it had not tried to stop the rupee from falling to three-year lows, but would act on rising inflation which is on track to top its target for this financial year. High prices for imported oil have widened

Published 22 Oct, 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 22 Oct, 2004 12:00am

TCP clarification

The Trading Corporation of Pakistan (TCP) has clarified that only 4,000 metric tonnes of wheat have come under port demurrage out of 155,612 metric tonnes discharged at Port Qasim. A press release, issued here on Thursday, says that this was caused due to

Published 22 Oct, 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 22 Oct, 2004 12:00am

TCP clarification

The Trading Corporation of Pakistan (TCP) has clarified that only 4,000 metric tonnes of wheat have come under port demurrage out of 155,612 metric tonnes discharged at Port Qasim. A press release, issued here on Thursday, says that this was caused due to

Published 22 Oct, 2004 12:00am

Karachi interbank rates

Karachi interbank rates on Thursday (October 21, 2004).

Published 22 Oct, 2004 12:00am

EU finalising proposal to end textile quotas

The European Union (EU) is finalising a proposal by amending the existing Council Regulation (CR) 3030/93, to eliminate all import textile and clothing quotas vis-à-vis World Trade Organisation (WTO) countries from January 1, 2005. This was stated by Paki

Published 22 Oct, 2004 12:00am

US Midwest soya bids up, corn mixed

The cash basis for soyabeans continued to firm in the US Midwest early on Thursday, reflecting slow country sales and strong demand from the US Gulf, while corn bids were mixed, dealers said.

Published 22 Oct, 2004 12:00am

EU finalising proposal to end textile quotas

The European Union (EU) is finalising a proposal by amending the existing Council Regulation (CR) 3030/93, to eliminate all import textile and clothing quotas vis-à-vis World Trade Organisation (WTO) countries from January 1, 2005. This was stated by Paki

Published 22 Oct, 2004 12:00am

Singapore bunker fuel prices rise

Singapore bunker prices rose on Thursday, tracking record-high fuel oil cargo values.

Published 22 Oct, 2004 12:00am

Bulls stage comeback on ISE

Bulls returned on the driving seat on the Islamabad Stock Exchange (ISE) where equities showed recovery signs amid increase in index. The ISE network index was up by 8.89 points as the rate-based indicator moved from 11,722.41 to 11,731.30 points, while t

Published 22 Oct, 2004 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 115,778 tonnes of cargo including 101,125 tonnes import and 14,653 tonnes export cargo during last 24 hours ending at 0700 hours on Thursday.

Published 22 Oct, 2004 12:00am

Bulls stage comeback on ISE

Bulls returned on the driving seat on the Islamabad Stock Exchange (ISE) where equities showed recovery signs amid increase in index. The ISE network index was up by 8.89 points as the rate-based indicator moved from 11,722.41 to 11,731.30 points, while t

Published 22 Oct, 2004 12:00am

India seen as major sugar importer

India, the world's largest sugar consumer, could become a major importer in 2004/05, buying up to four million tonnes as the country draws down stocks after dismal harvests, an informal poll of European analysts said.

Published 22 Oct, 2004 12:00am

Mixed trend on Lahore Stock Exchange

Share values moved both ways on Lahore Stock Exchange (LSE), where the index finished with a weak note, as impact of technical correction has persisted since the start of the week. The LSE-25 index slightly retreated to 2716.53 points from Wednesday's 271

Published 22 Oct, 2004 12:00am

CBOT wheat futures weak on technical setback

Chicago Board of Trade wheat futures closed lower on Wednesday on a technical setback after strength when December broke through its 50-day moving average but hit resistance at $3.21-1/4, traders said.

Published 22 Oct, 2004 12:00am

Mixed trend on Lahore Stock Exchange

Share values moved both ways on Lahore Stock Exchange (LSE), where the index finished with a weak note, as impact of technical correction has persisted since the start of the week. The LSE-25 index slightly retreated to 2716.53 points from Wednesday's 271

Published 22 Oct, 2004 12:00am

FOB Gulf corn firm, demand lifts soyabean

US Gulf corn basis offers were firm on Wednesday, while soyabeans were higher amid gains in the CIF barge market and slow movement, traders said.

Published 22 Oct, 2004 12:00am

Selling pressure grips KSE

The market for the second consecutive session witnessed selling pressure and the index after breaching the 5500 level was forced to close in a negative territory. The KSE-100 index fell 12.49 points or 0.23 percent to 5452.87 as compared with 5465.36 of W

Published 22 Oct, 2004 12:00am

Overnight gains reported on cotton market

Despite news of heavy seedcotton (kapas/phutti) arrivals over the past several weeks and very optimistic projections for output for the current crop (2004-2005, lint prices showed a fair modicum of stability.

Published 22 Oct, 2004 12:00am

Selling pressure grips KSE

The market for the second consecutive session witnessed selling pressure and the index after breaching the 5500 level was forced to close in a negative territory. The KSE-100 index fell 12.49 points or 0.23 percent to 5452.87 as compared with 5465.36 of W

Published 22 Oct, 2004 12:00am

Overnight gains reported on cotton market

Despite news of heavy seedcotton (kapas/phutti) arrivals over the past several weeks and very optimistic projections for output for the current crop (2004-2005, lint prices showed a fair modicum of stability.

Published 22 Oct, 2004 12:00am

Orascom pledges additional $1 billion investment

Naguib Sawiris, Chairman & CEO Orascom Telecom, has pledged additional investment of one billion dollars for further expansion in infrastructure development in Pakistan. This was disclosed by CEO of Orascom Telecom, who called on Prime Minister Shaukat Az

Published 22 Oct, 2004 12:00am

Oil cake market rates

The December vaida was sharply lower, and the January vaida was unchanged on the forward cottonseed oil-cake market on Thursday, dealers said.

Published 22 Oct, 2004 12:00am

Orascom pledges additional $1 billion investment

Naguib Sawiris, Chairman & CEO Orascom Telecom, has pledged additional investment of one billion dollars for further expansion in infrastructure development in Pakistan. This was disclosed by CEO of Orascom Telecom, who called on Prime Minister Shaukat Az

Published 22 Oct, 2004 12:00am

Upward trend on cotton market

After maintaining a stable trend for several days, prices went up on the cotton market on Thursday on continued demand by the leading buyers, sources said.

Published 22 Oct, 2004 12:00am

148 feared dead in China coal mine blast

An underground gas explosion which ripped through a coal mine killed at least 60 workers and left 88 missing in one of China's worst mining disasters in recent memory, officials said on Thursday. The shafts of the Daping coal mine near Xinmi in central He

Published 22 Oct, 2004 12:00am

US Plains HRW wheat basis bids steady to firmer

Spot hard red winter wheat basis bids in the US Plains were steady to firmer on Thursday, with farmer selling slow, merchants said.

Published 22 Oct, 2004 12:00am

148 feared dead in China coal mine blast

An underground gas explosion which ripped through a coal mine killed at least 60 workers and left 88 missing in one of China's worst mining disasters in recent memory, officials said on Thursday. The shafts of the Daping coal mine near Xinmi in central He

Published 22 Oct, 2004 12:00am

Jute goods up on Jodia Bazar

The trading on jute sector moved up on Jodia Bazar on Thursday (October 21, 2004).

Published 22 Oct, 2004 12:00am

Boeing wins $3.8 billion order for planes

New US carrier Primaris Airlines said Thursday it had ordered 40 Boeing planes - half of them the new fuel-efficient 7E7 Dreamliner - with a list price of 3.8 billion dollars.

Published 22 Oct, 2004 12:00am

Wheat up on grain market

Tight supply position was witnessed on the grain market on Thursday as most of the commodities maintained higher trend in process of trading, dealers said.

Published 22 Oct, 2004 12:00am

Tax overhaul to be priority in 2nd Bush term: Snow

Treasury Secretary John Snow on Thursday likened President George W. Bush to Ronald Reagan and said overhauling the US tax system would be a priority for the Bush administration in a second term.

Published 22 Oct, 2004 12:00am

New York coffee higher

US coffee futures jumped more than 2 percent on Wednesday, with roaster buying triggering a flurry of speculative fund short-covering, traders said.

Published 22 Oct, 2004 12:00am

Three Pakistanis held in Spain

Spanish police said on Thursday they had detained three Pakistanis and six Iranians suspected of drugs trafficking and money laundering.

Published 22 Oct, 2004 12:00am

New York cocoa ends near two-week low

US benchmark cocoa futures finished near a two-week low on Wednesday, depressed by trade and fund selling that began late on Tuesday on waning fears about a farmer strike in top grower Ivory Coast, traders said.

Published 22 Oct, 2004 12:00am

Four killed in Iraq violence

Rebels fired several mortar rounds in Iraq's northern city of Mosul on Thursday in an attack possibly aimed at visiting interim Prime Minister Iyad Allawi.

Published 22 Oct, 2004 12:00am

S&P cuts Tom's Foods rating

Standard & Poor's Ratings Services lowered its ratings on privately owned regional snack food manufacturer and distributor Tom's Foods Inc, including its corporate credit rating to 'CCC' from 'B'.

Published 22 Oct, 2004 12:00am

Pakistan not to move ICJ against Baglihar

Pakistan has decided not to approach the International Court of Justice (ICJ) to resolve dispute on 450 megawatt Baglihar hydropower project being built by India on River Chenab in occupied Kashmir, informed sources told Business Recorder. This dec

Published 22 Oct, 2004 12:00am

S&P cuts Tom's Foods rating

Standard & Poor's Ratings Services lowered its ratings on privately owned regional snack food manufacturer and distributor Tom's Foods Inc, including its corporate credit rating to 'CCC' from 'B'.

Published 22 Oct, 2004 12:00am

Pakistan not to move ICJ against Baglihar

Pakistan has decided not to approach the International Court of Justice (ICJ) to resolve dispute on 450 megawatt Baglihar hydropower project being built by India on River Chenab in occupied Kashmir, informed sources told Business Recorder. This dec

Published 22 Oct, 2004 12:00am

US Pacific Coast draws Asian soybean demand

Exports of US soybeans to Asia from the Pacific Northwest are soaring even as tight supplies and rising freight costs temper demand at grain terminals along the Gulf Coast, traders said on Wednesday.

Published 22 Oct, 2004 12:00am

50 percent of sick units' Wapda dues waived

The government on Thursday has decided to waive 50 percent dues of all defaulting consumers of Water and Power Development Authority (Wapda) owning inoperative units and could not pay bills for the last five years. The measure has been taken to revive big

Published 22 Oct, 2004 12:00am

Comex copper higher

Comex copper prices finished on Wednesday with modest gains on a late round of short-cover buying after spending most of the day under water from profit taking, traders said.

Published 22 Oct, 2004 12:00am

50 percent of sick units' Wapda dues waived

The government on Thursday has decided to waive 50 percent dues of all defaulting consumers of Water and Power Development Authority (Wapda) owning inoperative units and could not pay bills for the last five years. The measure has been taken to revive big

Published 22 Oct, 2004 12:00am

Gold up as dollar slides

Gold rose to near a 6-1/2 month high as the US dollar sagged against the yen on Thursday, while Asian stocks were mostly higher though some exporters such as Canon Inc lagged.

Published 22 Oct, 2004 12:00am

Hubco''s profit stands at Rs1.37 billion in first quarter

The profit of Hub Power Company (Hubco) for the first quarter ended September 30 posted an increase of almost 7 percent because of higher sales and lower financing cost. Turnover of the company during the period amounted to Rs 4.306 billion and operating

Published 22 Oct, 2004 12:00am

New York gold up, silver scales six-1/2-month peak

Comex gold finished up but below its 6-1/2-month peak on Wednesday, as safe-haven precious metals beckoned investors amid a sliding dollar and rising oil prices.

Published 22 Oct, 2004 12:00am

Hubco's profit stands at Rs1.37 billion in first quarter

The profit of Hub Power Company (Hubco) for the first quarter ended September 30 posted an increase of almost 7 percent because of higher sales and lower financing cost. Turnover of the company during the period amounted to Rs 4.306 billion and operating

Published 22 Oct, 2004 12:00am

Asian gold extends gains as dollar drifts lower

Spot gold extended gains to fresh 6-1/2 month highs in Asia on Thursday as the dollar's fall against the yen and firm oil prices prompted fund operators to shift their portfolios back to the precious metals market.

Published 22 Oct, 2004 12:00am

Hubco's profit stands at Rs1.37 billion in first quarter

The profit of Hub Power Company (Hubco) for the first quarter ended September 30 posted an increase of almost 7 percent because of higher sales and lower financing cost. Turnover of the company during the period amounted to Rs 4.306 billion and operating

Published 22 Oct, 2004 12:00am

Thai rubber futures steady, volume drops

Thai rubber futures contracts closed steady in thin trade on Thursday as traders were reluctant to unwind contracts after profit-taking pulled prices down in the past few days, traders said.

Published 22 Oct, 2004 12:00am

World Bank demands new push to meet poverty target

World Bank president James Wolfensohn said on Thursday that both rich and poor nations needed to step up their game as the mid-term point approaches for a bold global initiative against poverty. "All of us in both the developing and the developed world ne

Published 22 Oct, 2004 12:00am

Oil holds firm as winter supplies worries reigned

US oil prices held above $54 a barrel on Thursday after a larger-than-expected decline in heating fuels in the United States heightened fears of a winter supply crunch.

Published 22 Oct, 2004 12:00am

World Bank demands new push to meet poverty target

World Bank president James Wolfensohn said on Thursday that both rich and poor nations needed to step up their game as the mid-term point approaches for a bold global initiative against poverty. "All of us in both the developing and the developed world ne

Published 22 Oct, 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 3	268.36

Stock	Price
786 Invest Ltd / Jun 3 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 3 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 3 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 3 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 3 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 3 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 3 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 3 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 3 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 3 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 3 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 3 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 3 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 3 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 3 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 3 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 3 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 3 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 3 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 3 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 3 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 3 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 3 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 3 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 3 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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