News Archives for Print - 2004-12-07

US treasuries bid prices

US treasuries bid prices on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

PTA cuts interconnection charges up to 45 percent

The Pakistan Telecommunication Authority (PTA) has slashed interconnection charges proposed by the Pakistan Telecommunication Company Limited (PTCL) up to 45 percent to facilitate new Long Distance International (LDI) and Wireless Local Loop (WLL) license

Published 07 Dec, 2004 12:00am

Open market rates of foreign currencies

Open market rates of foreign currencies supplied by the Forex Association of Pakistan on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Judges kidnapping issue raised in Senate

Senator Hadayatullah during Senate proceedings on Monday raised the issue of deteriorating law and order situation in the country, in the context of kidnapping of two judges in Shikarpur. "If judges being the provider of justice are not safe in this count

Published 07 Dec, 2004 12:00am

London Interbank Offered Rates

London Interbank Offered Rates (LIBOR) on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Paknet launches new internet service

Internet service provider, Paknet, has launched a new service whereby by dialling a specific phone number the user gets a password and login number, getting automatically connected to internet service. The user can surf for two hours anytime of the day at

Published 07 Dec, 2004 12:00am

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

FROM A RINGSIDE SEAT

The Senate proceedings generally remain staid, bereft of surprises. But on Monday it saw two quite unfamiliar developments. First, Shaukat Aziz came to the house; his second visit since he took oath of office of prime minister. Second, the house discussed

Published 07 Dec, 2004 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Kashmiris welcome Musharraf and Blair meeting in London

Kashmiris on Monday gathered outside the 10 Downing Street in London to welcome the meeting between President General Pervez Musharraf and British Prime Minister, Tony Blair. Kashmiris living in the UK raised high-pitched slogans in favour of Kashmir's li

Published 07 Dec, 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 Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Two labourers killed in explosion

Two labourers were burnt to death while another wounded seriously when some explosive material went off at a furnace here on Monday. Reportedly, some labourers were busy in work at Al-Karim Steel Furnace when accidentally some explosive material ripped th

Published 07 Dec, 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 Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Labour Party rally

Activists of Labour Party Pakistan held a demonstration here on Monday to press the government to stop ongoing process of privatisation of public sector institutions. The demonstrators marched from Lahore Press Club to Laxami Chowk. Addressing the protest

Published 07 Dec, 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 Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

SU and Islamic University Uganda ink MoU

The Islamic University in Uganda and the University of Sindh have signed the Memorandum of Understanding (MoU) here on Monday to launch academic exchange programmes in disciplines of various faculties. The Vice Chancellor Sindh University Mazharul Haq Sid

Published 07 Dec, 2004 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Mehsud's house demolished

Authorities on Monday wrecked the houses of a former Guantanamo Bay prisoner Abdullah Mehsud and his relatives in a remote tribal region near Afghanistan, an official said. "Five houses belonging to Abdullah Mehsud and his relatives were demolished with e

Published 07 Dec, 2004 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

VCOAS witnesses Pak-Saudi joint exercise

Vice Chief of Army Staff (VCOAS) General Ahsan Saleem Hayat on Monday visited exercise area in Southern Punjab and witnessed ongoing Pak-Saudi Joint Exercise Al-SAMSAAM-1. It is for the first time that Saudi land forces are jointly participating with Paki

Published 07 Dec, 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 Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

ARD kicks off campaign against Musharraf

The Alliance for Restoration of Democracy (ARD) on Monday kicked off its anti-Musharraf movement by holding its public meeting in Batkhela, district headquarters of Malakand Agency. Thousands of people attended the meeting where a by-election on NA-35 to

Published 07 Dec, 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 Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

UK defence chief meets Musharraf

Britain's Chief of Defence Staff General Sir Michael Walker called on President General Pervez Musharraf here on Monday. During the meeting, matters pertaining to bilateral defence co-operation came under discussion.

Published 07 Dec, 2004 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

President addresses Royal College of Defence Studies

President General Pervez Musharraf addressed an eminent gathering of experts at the Royal College of Defence Studies Monday afternoon. The President spoke on a host of regional and international issues and expressed his views vis-à-vis peace and security

Published 07 Dec, 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 07 Dec, 2004 12:00am

Garment exporters advised to improve quality

French Ministry of Economics Senior Economist Dr Dinan Hocharich advised Pakistan business community to improve its garment production if it wants to increase its market share. Making a presentation on China's accession to the WTO and its consequences for

Published 07 Dec, 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 07 Dec, 2004 12:00am

Lahore High Court allows bail

A division bench of the Lahore High Court (LHC) has allowed bail to Rahil Rashid and Sajeel Rashid facing a reference. The petitioner's counsel contended there was no direct evidence against the applicants. He said the proceedings of the trial court had n

Published 07 Dec, 2004 12:00am

Karachi interbank rates

Karachi interbank rates on Monday (December 06, 2004).

Published 07 Dec, 2004 12:00am

Chaudhry Pervaiz calls on Sheila Dixit

Punjab Chief Minister Chaudhry Pervaiz Elahi called on Delhi Chief Minister Sheila Dixit in Delhi on Monday. During the meeting Chief Minister of Delhi informed Chaudhry Pervaiz Elahi about steps taken to eliminate environmental pollution and improve tran

Published 07 Dec, 2004 12:00am

Key stock market movements at 1800 GMT on December 06

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 07 Dec, 2004 12:00am

Pakistan and Bangladesh tea associations sign MoU

Tea associations of Pakistan and Bangladesh have inked a Memorandum of Understanding (MoU) for joint co-operation to promote tea marketing. Bangladesh Tea Association chairman M. Wahidul Haque and his Pakistani counterpart Muhammad Altaf signed the MoU. S

Published 07 Dec, 2004 12:00am

Ivory Coast cocoa co-operatives receive cash to buy beans

Ivory Coast's cocoa co-operatives have started receiving government loans to purchase beans for the 2004/05 season though exporters said on Monday that cocoa arrivals are still lagging last year's bumper crop. Many cooperatives in the world's top cocoa gr

Published 07 Dec, 2004 12:00am

Pakistan and Bangladesh tea associations sign MoU

Tea associations of Pakistan and Bangladesh have inked a Memorandum of Understanding (MoU) for joint co-operation to promote tea marketing. Bangladesh Tea Association chairman M. Wahidul Haque and his Pakistani counterpart Muhammad Altaf signed the MoU. S

Published 07 Dec, 2004 12:00am

Oil cake market rates

Futures moved both ways on the forward cottonseed oilcake market on Monday as some buyers bought according to their requirements, dealers said. The December vaida commenced with 20 paisa loss at Rs 404.30 which proved to be day's best and, incidentally, c

Published 07 Dec, 2004 12:00am

SBP offers Rs 30 billion treasury bills for sale

The State Bank has invited tenders for the sale of treasury bills and set a target of Rs 30 billion. Market sources said that the State Bank has set the target in the wake of huge inflows expected into the market on the same settlement day. Experts said t

Published 07 Dec, 2004 12:00am

Steady trend on cotton market

Steady trading was seen on cotton market on Monday as needy buyers indulged in buying to meet urgent requirements, dealers said. The official spot rate was unchanged at its weekend level at Rs 1825 without upcountry expenses. Prices in ready in Sindh rang

Published 07 Dec, 2004 12:00am

SBP offers Rs 30 billion treasury bills for sale

The State Bank has invited tenders for the sale of treasury bills and set a target of Rs 30 billion. Market sources said that the State Bank has set the target in the wake of huge inflows expected into the market on the same settlement day. Experts said t

Published 07 Dec, 2004 12:00am

Russia raises palm oil import duty

Russia will triple an import tariff for palm oil packed in canisters and other containers of up to 200 kilos for a period of nine months, the government said on Monday. The tariff will go up to 15 percent, but no less than 0.12 euros per kilo, from five p

Published 07 Dec, 2004 12:00am

Prime Minister hails private sector contribution to progress

Prime Minister Shaukat Aziz on Monday said private sector has been playing very effective role in improving the economic development of the country and generating job opportunities. Talking to a delegation of Sarhad Chamber of Commerce and Industry (SCCI)

Published 07 Dec, 2004 12:00am

Several changes on grain market

Several variations were seen on the grain market on Monday in moderate trading, dealers said. On the grams side, gram garda Punjab lost Rs 75 to Rs 2175-2110, Gram dal New inferior type fell by Rs 80 to Rs 2350 and best type followed the suit and lost Rs

Published 07 Dec, 2004 12:00am

Container shutout at QICT causes colossal loss to exporters

About 100 containers were shut out at the Qasim International Container Terminal (QICT) at Port Qasim on Friday as they could not be loaded on the Maersk Sealand's vessel, "m.v. Orange". This was stated by Pakistan Bedwear Exporters Association (PBEA) Cha

Published 07 Dec, 2004 12:00am

French wheat exporters target new markets

French wheat exporters plan to target new markets in South Africa in a bid to extend beyond their usual markets in the north of the continent, the main producers' group said on Monday. The AGPB said the export promotional group France Export Cereal's woul

Published 07 Dec, 2004 12:00am

Container shutout at QICT causes colossal loss to exporters

About 100 containers were shut out at the Qasim International Container Terminal (QICT) at Port Qasim on Friday as they could not be loaded on the Maersk Sealand's vessel, "m.v. Orange". This was stated by Pakistan Bedwear Exporters Association (PBEA) Cha

Published 07 Dec, 2004 12:00am

Malaysian tin futures up on short covering

Malaysian tin ended on Monday up 0.2 percent as traders scrambled to cover short positions taken during selling activity last week, dealers said, with sentiment firmed by a return of European buyers and a rise in London prices. Spot tin on the Kuala Lumpu

Published 07 Dec, 2004 12:00am

Pakistan will not achieve MDGs: Unicef

The United Nations Children Fund (Unicef) on Monday expressed apprehension about Pakistan's ability to achieve Millennium Development Goals (MDGs). The statement came a day after Prime Minister Shaukat Aziz's announcement that the Planning Commission woul

Published 07 Dec, 2004 12:00am

LME copper stronger in Asia as dollar slumps

London Metal Exchange (LME) copper futures regained strength in Asia on Monday, supported by solid bargain-hunting as the dollar struggled against key currencies following disappointing US jobs data. Underlying sentiment for copper stayed bullish despite

Published 07 Dec, 2004 12:00am

Musharraf begins France visit today

President Pervez Musharraf, who is in the United Kingdom at present, will pay a two-day official visit to France from Tuesday to discuss bilateral and international issues with President Chirac, a spokesman of the Foreign Office disclosed here on Monday.

Published 07 Dec, 2004 12:00am

Tokyo gold mostly unchanged on soft bullion

Tokyo gold futures stayed largely flat on Monday after bullion lost some of its lustre to a firmer US dollar, but traders said market sentiment remains strong. The benchmark October gold contract on the Tokyo Commodity Exchange (TOCOM) finished down one y

Published 07 Dec, 2004 12:00am

Musharraf begins France visit today

President Pervez Musharraf, who is in the United Kingdom at present, will pay a two-day official visit to France from Tuesday to discuss bilateral and international issues with President Chirac, a spokesman of the Foreign Office disclosed here on Monday.

Published 07 Dec, 2004 12:00am

Stronger dollar takes some shine off gold price

A stronger US dollar took some shine off gold in Asia on Monday, although expectations that the euro will resume its rise kept bullion trading near 16-year highs. The dollar's modest recovery against the euro and yen trimmed less than $1 off gold, which j

Published 07 Dec, 2004 12:00am

White House says close to intelligence reform deal

The White House said on Monday a deal was near with key Republicans after a months-long political wrangle over legislation to overhaul the nation's intelligence agencies. President George W. Bush told reporters that efforts were under way to address the c

Published 07 Dec, 2004 12:00am

British foods fight to stir up French palates

In centuries of Franco-British rivalry, the French have always claimed the crown of culinary superiority over their neighbours across the Channel. But now a handful of Anglo-Saxon food enthusiasts are trying to convince French gourmets that British cuisin

Published 07 Dec, 2004 12:00am

General Motors Europe job cut negotiations go down to wire

General Motors managers and labour officials tried again on Monday to nail down a deal on sweeping cost cuts at the carmaker's loss-making European business in time for approval at a GM board meeting on Tuesday. Despite worker representatives' comments la

Published 07 Dec, 2004 12:00am

Oil pauses after 14 percent plunge, traders eye Opec

Oil prices inched up from a three-month low on Monday as traders caught their breath after last week's 14 percent dive and considered a possible output reduction at Opec's upcoming meeting. Battered oil markets fell sharply last week on signs of healthier

Published 07 Dec, 2004 12:00am

Gambro shares halted after dialysis sale report

The Stockholm stock exchange halted trade in kidney-care company Gambro on Monday amid speculation that the Swedish firm might be on the verge of selling its dialysis operations in a $3 billion deal. The Stockholm bourse said the stock would remain suspen

Published 07 Dec, 2004 12:00am

Tokyo rubber falls on yen strength

Tokyo rubber futures edged down on Monday as the yen's strength induced profit-taking but the market was wary of selling heavily amid a dearth of new sell factors. Major Japanese fund operators have been holding large short positions, especially in distan

Published 07 Dec, 2004 12:00am

US must act, not talk, to ease euro pain: Grasser

The United States must act, not just talk, to reduce an excessively high euro/dollar exchange rate by cutting its budget and current account deficits, Austrian Finance Minister Karl-Heinz Grasser said on Monday. Grasser, who becomes deputy spokesman for E

Published 07 Dec, 2004 12:00am

Russia winter grain

SovEcon estimates Russia's winter grain area sown for the 2005 harvest at around 13.5 million hectares, some 0.7 million hectares above last year's record low of 12.8 million hectares. The increase is coupled with the very good state of winter grain plant

Published 07 Dec, 2004 12:00am

India offers support to Karzai

India Monday said it fully supported the leadership of Hamid Karzai, a day ahead of his swearing in as the first elected president of Afghanistan, a foreign ministry spokesman said. "We fully support his leadership," foreign ministry spokesman Navtej Sarn

Published 07 Dec, 2004 12:00am

Philippines to hold tender to import rice in January

The Philippines will hold a tender in the first or second week of January to buy up to 320,000 tonnes of rice due to damage to crops caused by four storms in two weeks, a senior government official said on Monday. The four storms battered wide swathes of

Published 07 Dec, 2004 12:00am

IBM wins $1 billion contract from Lloyds TSB

IBM has signed a 7-year, 500 million pound ($969 million) contract with British bank Lloyds TSB to supply it with Internet telephony and data services, The US-based computer giant said on Monday. "The implementation, which includes almost 70,000 Voice ove

Published 07 Dec, 2004 12:00am

East Asian grain importers seen on sidelines

Concerned about near record-high freight rates will probably keep East Asian grain importers on the sidelines this week, but Japanese importers could buy corn, anticipating further shipping cost rises, traders said on Monday. Taiwan demand for grain and o

Published 07 Dec, 2004 12:00am

Bulls dominate ISE proceedings

Equities witnessed broad-based recovery at Islamabad Stock Exchange (ISE) where bulls dominated the proceedings amid increase in index. ISE network index showed an increase of 74.61 points as the price-based indicator moved from 11,949.02 to 12,023.63 poi

Published 07 Dec, 2004 12:00am

Ajinomoto to spend $59 million to up sweetener output

Ajinomoto Co Inc, Japan's top maker of food seasonings, said on Monday it would spend 6 billion yen ($58.8 million) to expand output of the artificial sweetener aspartame in Japan and France. Ajinomoto, which competes with US firm NutraSweet Co, said the

Published 07 Dec, 2004 12:00am

Bulls dominate ISE proceedings

Equities witnessed broad-based recovery at Islamabad Stock Exchange (ISE) where bulls dominated the proceedings amid increase in index. ISE network index showed an increase of 74.61 points as the price-based indicator moved from 11,949.02 to 12,023.63 poi

Published 07 Dec, 2004 12:00am

Australia's NatFoods says Fonterra bid too low

Australian dairy group National Foods Ltd said on Monday its shares were worth up to 22 percent more than a hostile A$1.6 billion ($1.3 billion) take-over offer by New Zealand dairy giant Fonterra. National Foods said its shares were worth up to A$6.65 on

Published 07 Dec, 2004 12:00am

Equities flare up on LSE

Powered by institutional support in fuel and energy sector and banks, share values flared up on Lahore Stock Exchange (LSE), with a substantial rise in turnover indicating improvement in buying interest form investors. The LSE-25 index surged to 2,771.76

Published 07 Dec, 2004 12:00am

Australia's NatFoods says Fonterra bid too low

Australian dairy group National Foods Ltd said on Monday its shares were worth up to 22 percent more than a hostile A$1.6 billion ($1.3 billion) take-over offer by New Zealand dairy giant Fonterra. National Foods said its shares were worth up to A$6.65 on

Published 07 Dec, 2004 12:00am

Equities flare up on LSE

Powered by institutional support in fuel and energy sector and banks, share values flared up on Lahore Stock Exchange (LSE), with a substantial rise in turnover indicating improvement in buying interest form investors. The LSE-25 index surged to 2,771.76

Published 07 Dec, 2004 12:00am

Malaysian palm oil down on Wong's bearish outlook

Malaysian crude palm oil futures ended lower on Monday, surrendering early gains, following a bearish supply and demand outlook from the market's leading forecaster. Dealers said they expected the market to see light or average volumes until Friday's offi

Published 07 Dec, 2004 12:00am

Nepra raises Chasnupp tariff to Rs 2.66/kWh

The National Electric Power Regulatory Authority (Nepra) has determined tariff for Chashma nuclear power plant (Chasnupp) providing 300 MW power to the National Transmission and Dispatch Company. Chasnupp has been selling electricity to Wapda/NTDC at the

Published 07 Dec, 2004 12:00am

Brazil coffee farms set for hot showery week

Brazil's coffee belt will be hot and showery this week, private meteorologist Somar forecast on Monday. On Sunday, temperatures ranged between 27 and 34 degrees Celsius (81 and 93 degrees Fahrenheit) in coffee areas and it's expected to get hotter in the

Published 07 Dec, 2004 12:00am

Nepra raises Chasnupp tariff to Rs 2.66/kWh

The National Electric Power Regulatory Authority (Nepra) has determined tariff for Chashma nuclear power plant (Chasnupp) providing 300 MW power to the National Transmission and Dispatch Company. Chasnupp has been selling electricity to Wapda/NTDC at the

Published 07 Dec, 2004 12:00am

Benelux grain prices bearish as trade slows

Benelux grains prices weakened in the past week as bearish sentiment prevailed due to euro strength against the dollar and large European harvests this year, traders said on Monday. Falling prices brought trade to a near standstill as feed makers in the N

Published 07 Dec, 2004 12:00am

Over Rs 0.2 million tax returns scanned by CBR

The Central Board of Revenue (CBR) has scanned all income tax returns with declared income of Rs 0.2 million or more, including corporate returns, for compilation of comprehensive database at the Centralised Data Entry Centre at Islamabad. CBR Member Info

Published 07 Dec, 2004 12:00am

Canada's trade sees more canola, barley in Statscan

Statistics Canada's year-end report should confirm higher yields for canola and barley than projected earlier this fall amid dismal weather conditions, said grain traders and analysts polled by Reuters. "With the superb November weather, a lot of grain wa

Published 07 Dec, 2004 12:00am

Over Rs 0.2 million tax returns scanned by CBR

The Central Board of Revenue (CBR) has scanned all income tax returns with declared income of Rs 0.2 million or more, including corporate returns, for compilation of comprehensive database at the Centralised Data Entry Centre at Islamabad. CBR Member Info

Published 07 Dec, 2004 12:00am

Physical sugar business routine, but freight a drag

Consumers are buying sugar hand-to-mouth for the most part, but larger purchases remain stymied by stiflingly steep freight rates, brokers said Monday. As a result, supplies of nearby sugar are gradually increasing and putting pressure on premiums for the

Published 07 Dec, 2004 12:00am

EPB denies quota mismanagement claim

This refers to the news item of Daily Business Recorder of December6, 2004, under the caption 'Mismanagement of quota by EPB'. The allegations levelled in the news item are not based on facts.

Published 07 Dec, 2004 12:00am

Libya aims to boost wheat imports to 2.5 million tonnes

Libya aims to increase wheat imports to 2.5 million tonnes per year from 1.0 million tonnes once flour milling capacity has been expanded, the General National Company for Flour Mills and Fodder said on Sunday. Libya imports one million tonnes of wheat it

Published 07 Dec, 2004 12:00am

EPB denies quota mismanagement claim

This refers to the news item of Daily Business Recorder of December6, 2004, under the caption 'Mismanagement of quota by EPB'. The allegations levelled in the news item are not based on facts.

Published 07 Dec, 2004 12:00am

China's tungsten exporters await new licences

China, the world's top producer and exporter of tungsten, is cutting shipments this month as several large mines grind to a halt and suppliers await the issue of new export licences, traders and producers said on Monday. They said some exporters had used

Published 07 Dec, 2004 12:00am

Singh to visit Pakistan next year: Menon

Indian High Commissioner to Pakistan Shiv Shankar Menon informed the business community that Indian Prime Minister Manmohan Singh would visit Pakistan next year. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) he said Indian and P

Published 07 Dec, 2004 12:00am

Kazakhmys copper output up

Kazakh copper company, Kazakhmys, produced 393,588 tonnes of refined copper in January through November, up from 380,004 tonnes in the same period a year earlier, the company said on Monday. Kazakhmys, which produces more than 90 percent of the central As

Published 07 Dec, 2004 12:00am

KSE index sets new record at 5633

Luminous picture portrayed by Prime Minister Shaukat Aziz last week cheered the mood of share market investors and the market index reached record high of 5633 points as investors thronged to bank and oil sectors. The KSE-100 index registered an increase

Published 07 Dec, 2004 12:00am

Placer Dome sees gold and copper output up

Placer Dome Inc said on Monday it expects its gold and copper production to rise in 2005 even as costs are likely to be higher from currency and input cost movements. Gold production is expected to total 3.7 million ounces in 2005, up from 3.6 million oun

Published 07 Dec, 2004 12:00am

KSE index sets new record at 5633

Luminous picture portrayed by Prime Minister Shaukat Aziz last week cheered the mood of share market investors and the market index reached record high of 5633 points as investors thronged to bank and oil sectors. The KSE-100 index registered an increase

Published 07 Dec, 2004 12:00am

Russia sets grain support prices

The Russian government has set the prices at which it intends to start buying grain on the domestic market, but analysts said the prices were too low to create significant intervention stocks. The government has said it may buy up to 1.55 million tonnes o

Published 07 Dec, 2004 12:00am

Fuel surcharge, CAF on exports to EU up from January 1

Shipping lines, operating from Pakistan, increased fuel surcharge on all the exports to Europe to 85 dollars per 20-foot container and 140 dollars for 40-foot containers from January 1, 2005. The Currency Adjustment Factor (CAF) will also be increased to

Published 07 Dec, 2004 12:00am

Norsk Hydro and Qatar in $3 billion aluminium joint venture

Norwegian industrial group Norsk Hydro said on Sunday it would build a $3 billion aluminium plant in the Gulf Arab state of Qatar in a joint venture with state-owned Qatar Petroleum (QP). "The project will cost roughly around $3 billion. The financing has

Published 07 Dec, 2004 12:00am

Fuel surcharge, CAF on exports to EU up from January 1

Shipping lines, operating from Pakistan, increased fuel surcharge on all the exports to Europe to 85 dollars per 20-foot container and 140 dollars for 40-foot containers from January 1, 2005. The Currency Adjustment Factor (CAF) will also be increased to

Published 07 Dec, 2004 12:00am

Kenya plans major expansion at Mombasa port

Container capacity at Kenya's Mombasa port is expected to increase by 180 percent by 2020, when government-planned port upgrades take effect, senior shipping officials said on Monday. Peter Thuo, director of shipping at the Ministry of Transport and Commu

Published 07 Dec, 2004 12:00am

International conference on honour killings in Stockholm today

Some 200 delegates from around the world are to meet in Stockholm from Tuesday for an international conference on combating honour killings, organisers said. "Drawing attention to honour-related violence is one aspect of our efforts to combat all forms of

Published 07 Dec, 2004 12:00am

US Midwest corn and soya firm; sales flat

Spot cash bids for corn and soyabeans were steady to firm in the US Midwest early Monday, reflecting a lack of country movement, merchandisers said. Many producers have completed their grain sales for the calendar year, and Friday's rally in Chicago Board

Published 07 Dec, 2004 12:00am

Aga Khan okays plan to set up school of excellence in India

The Aga Khan, spiritual leader of Ismaili Muslims community, on Thursday cleared plans for the setting up of an international school of excellence in Andhra Pradesh, India. According to reports here, the Aga Khan Development Network would build the school

Published 07 Dec, 2004 12:00am

Singapore bunker fuel prices fall

Singapore bunker prices fell on Monday, despite marginally higher 380-cst fuel oil cargoes. Suppliers pegged 380-cst bunker fuel oil levels at $162-$164 a tonne, down $4 from Friday. Prices for the 180-cst grades were also lower at $172-$174. "Although ca

Published 07 Dec, 2004 12:00am

PC-I of PS expansion to be approved this month

PC-I of the envisaged revamping and expansion of Pakistan Steel will be approved during the current month and open tendering in the international market might be made by mid of January 2005. Federal Minister for Industries, Production, Jehangir Khan Taree

Published 07 Dec, 2004 12:00am

Currency	Rate
USD PKR Interbank Selling / May 23	278.42
USD PKR Interbank Buying / May 23	278.22
USD to Japanese Yen / May 23	156.74
USD to Swiss Franc / May 23	0.91
Pound Sterling to USD / May 23	1.27
Euro to USD / May 23	1.08

Stock	Volume
S&P 500 / May 22	5307.01
Nasdaq / May 22	16801.54
FTSE 100 / May 22	8370.33
Dow Jones / May 22	39671.04
Germany DAX 30 / May 22	18680.20
France CAC40 / May 22	8092.11
India Sensex / May 23	74667.86
Tokyo Nikkei / May 23	39034.80

Item	Value
Karachi Cotton PKR/37.32 KG / May 22	19935
Gold 10 Grams PKR / May 22	212791
Petrol/Litre / May 23	273.10
Crude Oil USD/Barrel / May 23	76.94
Gold Spot USD/Ounce / May 23	2362.37
Diesel/Litre / May 23	274.08

Stock	Price
786 Invest Ltd / May 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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