News Archives for Print - 2005-03-22

Print - 2005-03-22

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 21, 2005).

Published 22 Mar, 2005 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 Mar, 2005 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 Mar, 2005 12:00am

Karachi interbank rates

Karachi interbank rates on Monday (March 21, 2005).

Published 22 Mar, 2005 12:00am

Norilsk gets direct gold export licence

The gold unit of Russian metals giant Norilsk Nickel has received a licence from the Economy Ministry allowing it to start its first direct gold exports, a source in the company said on Monday. The move would allow Russia's top gold producer to bypass ban

Published 22 Mar, 2005 12:00am

Oil cake market rates

Easier trend was witnessed on the cottonseeds oilcake market as most of the buyers remained on the sideline due to satisfactory position on the supply side, dealers said. The March vaida opened with one rupee loss at Rs 437.00 and that proved to be day's

Published 22 Mar, 2005 12:00am

Slow but steady pace in cotton trading

Slow but steady pattern was seen on the cotton market as spinners took interest but not in a big way due to persisting rise in the prices, relevant sources said. The official spot rates, however, showed no change at Rs 2275, without upcountry expenses. In

Published 22 Mar, 2005 12:00am

HRW wheat bids firmer

Hard red winter wheat spot basis bids were steady to firmer on Monday in US Plains locations, with elevators mostly well stocked, merchants said. Some dealers were posting 2 cents per bushel protection on HRW wheat bids as they expected a lower open in Ka

Published 22 Mar, 2005 12:00am

Milk powder prices rise

The trading on milk powder sector moved upward on Jodia Bazar on Monday.

Published 22 Mar, 2005 12:00am

Grain and seeds prices unchanged

Most of the commodity items maintained their overnight levels as demand and supply were balanced, dealers said on Monday. Except, cottonseed oilcake, which drifted lower by rupees five at Rs 445-455, other commodities maintained their present levels, they

Published 22 Mar, 2005 12:00am

Nakornthai expects revenues to double

Thailand's second-largest hot-rolled steel coil maker, Nakornthai Strip Mill PCL, said on Monday expanded capacity would double its revenues to 20 billion baht ($521 million) in 2005. Executive chairman Sawasdi Horungruang said the impact of higher oil pr

Published 22 Mar, 2005 12:00am

Nakornthai expects revenues to double

Published 22 Mar, 2005 12:00am

Thai rubber futures mostly lower

Thai rubber futures ended mostly lower in thin trade on Monday, but tight supply is expected to keep prices from sliding further, brokers said. Overall volume rose to 140 contracts of benchmark ribbed smoked sheet number three (RSS3) from 34 on Friday. "T

Published 22 Mar, 2005 12:00am

Brazil coffee farms set for rainy week

Rain this week will ease the dryness of coffee farms in Parana and Sao Paulo states, private forecasters Somar predicted Monday, adding that south Minas will also see more rain. Parana is expected to get 34 millimeters (1.3 inches) and Sao Paulo 50 mm (2.

Published 22 Mar, 2005 12:00am

Chinalco in talks to buy Yunnan Copper

Aluminium Corp of China (Chinalco) is in talks to buy a stake in Yunnan Copper, the country's third-largest copper producer, for $121 million, state media and government officials said Monday. The companies had begun discussions in the second half of 2004

Published 22 Mar, 2005 12:00am

US Midwest corn and soya steady to mixed

US Midwest spot interior corn and soyabean basis bids were steady to narrowly mixed early Monday amid some farmer soya sales after recent CBOT losses, grain merchandisers said. "Farmers are selling some soyabeans this morning, but nothing like last week,"

Published 22 Mar, 2005 12:00am

Winter grain recovery pushes Russian crop up

The final official estimate of Russia's grain production in 2004 remains practically unchanged at 78.09 million tonnes, compared with 67.20 million tonnes in 2003. The numbers reveal that the increase in the 2004 total grain production have stemmed from a

Published 22 Mar, 2005 12:00am

South Brazil soya showery, but more rain needed

Showers should fall early this week but won't end drought stress in southern Brazilian soya states from Rio Grande do Sul to Mato Grosso do Sul, private meteorologist Somar predicted Monday. "Rainfall (in the south) will be irregular and in some areas won

Published 22 Mar, 2005 12:00am

Ukraine grain exports seen high in 2005-06

Ukraine, which sees its grain harvest down by about 10 percent to 37.4 million tonnes in 2005, is likely to keep exports at a high level of between 7.5 and 9.0 million tonnes in 2005/06, analysts said on Monday. The government said Ukraine harvested a rec

Published 22 Mar, 2005 12:00am

Ukraine cuts sunoil output

Ukraine, among the world's major sunflower oil producers and exporters, produced 97,900 tonnes of crude sunoil in February, 13.3 percent down from January, the State Statistics Committee said on Monday. The committee said Ukraine had produced 211,000 tonn

Published 22 Mar, 2005 12:00am

White sugar futures seen weaker

White sugar futures are expected to stay weak in the short term as expectations of a cut in India's white sugar import duty have failed to materialise and EU sugar availability has risen, merchant Czarnikow said. "The fundamental outlook for the white sug

Published 22 Mar, 2005 12:00am

Thai rice futures higher on drought worries

Thai rice futures ended higher on Monday amid expectations widespread drought will hurt this year's second rice crop, brokers said on Monday. Local authorities stopped supplying water for irrigating rice paddies last month, raising expectations that this

Published 22 Mar, 2005 12:00am

CIF Gulf poor demand weakens soya, corn holds

US CIF Gulf corn basis values were mostly steady on Monday while soyabeans were weak amid ample supplies in the pipeline and sluggish demand. Traders said farmers were taking advantage of the mild weather in parts of the Midwest to plant corn, especially

Published 22 Mar, 2005 12:00am

Indian soya and gold futures drop on global trends

A dip in world prices dragged down Indian soyaoil and gold futures on Monday, while sugar fell on profit-taking and adequate supplies, brokers said. April soyaoil at the Multi Commodity Exchange (MCX) was down 0.31 percent at 386 rupees per 10 kg. The Apr

Published 22 Mar, 2005 12:00am

Nigerian cocoa exports decline

Shipments of cocoa beans from Nigeria have slowed to a trickle as dealers in the commercial capital Lagos await the first deliveries of the mid-crop, traders said on Monday. Prices for beans at the farm gate have risen steadily towards 180,000 naira ($1,3

Published 22 Mar, 2005 12:00am

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday, as fuel oil cargo values broke record-high levels. Prices for 380-cst bunker fuel were pegged at $238-$240 a tonne, up $4 from Friday, with the differential to cargo prices at a slight premium of 37.5 cents. "These

Published 22 Mar, 2005 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 93,308 tonnes of cargo including 73,012 tonnes import and 20,296 tonnes export cargo inclusive of 1,824 containers, during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 52,727 tonnes dry cargo including 33,4

Published 22 Mar, 2005 12:00am

Australian cotton harvest best in years

Australia's best cotton harvest in years is gathering pace, producing better tonnages than first thought and raising hopes for a return to the good times of the past. Production for the year to June 30 is expected to outstrip a forecast made just a couple

Published 22 Mar, 2005 12:00am

Copper recoils in Asia as profit-taking emerges

Copper prices recoiled in Asia on Monday as investors took profits after hefty gains last week. Dealers said copper would be hard-pressed to retest the highs hit last week amid a stronger dollar and an easing global supply shortfall. Copper climbed to a r

Published 22 Mar, 2005 12:00am

Gold falls in Asia as dollar gains, wary of rates

Gold fell in Asian trading on Monday and hovered near its lowest in 10 days, as the US dollar rose on expectations the Federal Reserve may hasten the pace of interest rates hikes. Higher rates tend to boost demand for dollar deposits and may prompt some f

Published 22 Mar, 2005 12:00am

Japanese market closed

All the trading centres in Japan remained closed on Monday on account of a holiday. Markets will re-open on Tuesday.

Published 22 Mar, 2005 12:00am

Shanghai copper rises with LME

Higher London Metal Exchange prices and lower stock levels lifted Shanghai copper prices on Monday, but market sentiment is jittery as prices remain near record highs. "This market is due for a correction. Otherwise, if it stays like this for too long, we

Published 22 Mar, 2005 12:00am

Oil ticks down, Saudi Arabia says more oil at any time

Oil prices ticked lower but held above $56 on Monday as the IMF forecast energy costs to stay high for at least two years, while top exporter Saudi Arabia said Opec could decide at any time to add more supply to the market. US light crude for April delive

Published 22 Mar, 2005 12:00am

Chinese soya complexes weaker

China's Dalian soya complex in sank deeper early on Monday, with the dollar's rebound worrying participants that investment funds might pull out of commodities futures. Before a setback on Friday, the recent wave of buying by funds and speculators had hel

Published 22 Mar, 2005 12:00am

Asian products outlook seen firm

Singapore oil product prices are expected to be firm this week, driven by tight supply and held up by strong global crude levels, traders said on Monday. The fuel oil market is thin on Chinese-specification 180-centistoke (cst) supply due to a shortage of

Published 22 Mar, 2005 12:00am

Thai sugar premiums seen steady, drought threatens new crop

Thai sugar premiums are expected to hold firm over the next few days as a severe drought threatens sugar crops this year and next, traders and industry officials said on Monday. Output for the current crop year ending September 30 is expected to be down 3

Published 22 Mar, 2005 12:00am

East Asian grain imports seen modest despite CBOT dip

Many East Asian grain importers are unlikely to buy this week, despite a decline in benchmark Chicago Board of Trade (CBOT) futures last week that trimmed gains from a recent wave of buying by investment funds, traders said. While some Taiwan grain import

Published 22 Mar, 2005 12:00am

Malaysian palm exports up

Exports of Malaysian oil palm products for March 1 to 20 stood at 748,057 tonnes, up 10.3 percent from the 678,151 tonnes seen for February 1 to 20, cargo surveyor Societe Generale de Surveillance said on Monday. The figure was up 12.8 percent from the 66

Published 22 Mar, 2005 12:00am

Alcotexa sells 2,110 tonnes of cotton

The Alexandria Cotton Exporters' Association (Alcotexa) said on Monday it had committed to sell 2,110 tonnes of cotton in the week ended March 19. Alcotexa said it had committed to sell 1,351 tonnes of Giza 70, 12 tonnes of Giza 87, 722 tonnes of Giza 86

Published 22 Mar, 2005 12:00am

France has 59,799 tonnes of new intervention wheat offers

French grain office ONIC received offers to sell 59,799 tonnes of wheat into intervention stores in the past week, ONIC data showed on Monday. Net grain offers now totalled 1.23 million tonnes, comprising 1.05 million tonnes of wheat, 118,672 tonnes of ba

Published 22 Mar, 2005 12:00am

Indian farm ministry bracing for good wheat crop

India's wheat output is expected to rise in the current summer season from 72.06 million tonnes a year because of good weather, the farm ministry said on Monday. Wheat, oilseeds and pulses are the main summer crops, grown in November and harvested in Marc

Published 22 Mar, 2005 12:00am

Malaysian palm oil down as soyaoil weighs

Malaysian crude palm oil futures fell 1.3 percent on Monday, as higher export estimates were offset by a sharp drop in rival US soyaoil futures. The benchmark third-month crude palm oil futures contract on Bursa Malaysia Derivatives, June, ended down 19 r

Published 22 Mar, 2005 12:00am

Entegris to acquire Mykrolis in stock deal

Semiconductor supply company Entegris Inc will acquire industry peer Mykrolis Corp in a stock deal worth about $579 million that will create a group with a strong presence in Asia, the fastest-growing region for chip-making, the companies said on Monday.

Published 22 Mar, 2005 12:00am

Entegris to acquire Mykrolis in stock deal

Published 22 Mar, 2005 12:00am

NEC wins $6 million Singapore biometric passport deal

NEC Solutions Asia Pacific, a unit of Japan's third-largest electronics conglomerate NEC Corp, will develop passports for Singapore that include biometric data such as facial features and fingerprints, the firm said on Monday. NEC Solutions Asia Pacific P

Published 22 Mar, 2005 12:00am

Boeing gets US nod to sell some operations to Onex

Boeing Co has received US antitrust clearance to sell its commercial plane manufacturing operations in two states to Canadian leveraged buyout firm Onex Corp, US officials said on Monday. US antitrust officials closed their review of the deal to sell the

Published 22 Mar, 2005 12:00am

IBM sues over Texas services contract to Accenture

International Business Machines Corp has filed a suit challenging the state of Texas' awarding of a services contract to rival Accenture Ltd, citing irregularities in the state's process of awarding such contracts, IBM said on Sunday. IBM filed suit on Fr

Published 22 Mar, 2005 12:00am

South Korea fines telecoms firms for unfair marketing

South Korea said on Monday it had fined the country's telecom service providers, including fixed-line monopoly KT Corp and mobile firm SK Telecom Co, a total of 5.3 billion won for unfair marketing. The information ministry, concerned that a fight for cus

Published 22 Mar, 2005 12:00am

Medicis to acquire Inamed in $2.8 billion deal

Medicis Pharmaceutical Corp, a maker of drugs to treat skin conditions, on Monday said it agreed to acquire breast implant maker Inamed Corp for $2.8 billion in cash and stock. The new company will be positioned to take advantage of the fast-growing vanit

Published 22 Mar, 2005 12:00am

Medicis to acquire Inamed in $2.8 billion deal

Published 22 Mar, 2005 12:00am

BNL investors square up to BBVA in take-over battle

A group of Italian investors in Banca Nazionale del Lavoro tried on Monday to block Spain's BBVA from buying out Italy's number six bank in what would be the country's first foreign bank take-over. The property developers, who own 24 percent of BNL, criti

Published 22 Mar, 2005 12:00am

BNL investors square up to BBVA in take-over battle

Published 22 Mar, 2005 12:00am

ABB strikes asbestos deal with claimants, shares jump

Engineering group ABB moved to draw a line under its asbestos woes by agreeing to pay an additional $232 million to claimants, removing a major hurdle on its way back to financial health and boosting its shares. The money - less than some in the market ha

Published 22 Mar, 2005 12:00am

ABB strikes asbestos deal with claimants, shares jump

Published 22 Mar, 2005 12:00am

China expects GDP to grow at 8 percent until 2010

China's economy will grow at an average annual rate of 8 percent from 2006 to 2010, according to a top think-tank whose forecast exceeds a well established official view that long-term growth would average 7 percent. The new forecast from the cabinet's De

Published 22 Mar, 2005 12:00am

Citi reorganises structured finance, cuts jobs

Citigroup has moved to make its structured corporate finance businesses part of the fixed-income capital markets group, according to an internal memo obtained by Reuters. The division has also recently cut around 60 positions in structured finance globall

Published 22 Mar, 2005 12:00am

US gets WTO panel on EU customs procedures

The World Trade Organisation (WTO) on Monday set up a panel to look into European Union customs procedures that the United States says hinder its exports to the 25-nation grouping. The three-man panel will have six months to come up with a ruling in the d

Published 22 Mar, 2005 12:00am

'Saudi Arabia can raise oil supply by 1.5 million bpd'

Saudi Arabia can increase oil production by 1.5 million barrels a day to help ease rising world crude prices, the kingdom's visiting petroleum minister Ali Al-Naimi said Monday. "We can increase supply by 1.5 million barrels a day. It depends on demand,"

Published 22 Mar, 2005 12:00am

China must abide by rules of global economy: Rice

China must play by the rules in its trade with other countries, US Secretary of State Condoleezza Rice said Monday, warning that its economic expansion was being watched closely. Rice, who spent two days in China as part of a week-long Asian tour, said th

Published 22 Mar, 2005 12:00am

EU revamps budget pact, central bank cries foul

The European Central Bank on Tuesday slammed an accord among finance ministers that relaxes the fiscal rules underpinning the euro by giving governments a range of let-outs to escape punishment over bloated deficits. The eurozone's central bank issued a s

Published 22 Mar, 2005 12:00am

France revises up January jobless rate

France's unemployment rate was 10.1 percent in January, national statistics office INSEE said on Monday, revising up the figure of 10.0 percent it reported initially. The revision deals a blow to recovery hopes for the eurozone's second largest economy an

Published 22 Mar, 2005 12:00am

Indian state firms sign deal to explore in Libya

State-run firms Indian Oil Corp (IOC) and Oil India Ltd (OIL) signed a contract on Monday to explore oil in Libya, an Oil India statement said. "This historic agreement is the first production sharing contract which has been won by the OIL/IOC consortium

Published 22 Mar, 2005 12:00am

Italian jobs withstand economic slowdown

Italy's unemployment rate averaged 8 percent last year, the lowest level since at least 1993, suggesting that employment prospects had not been weighed down by a stagnant economy. Unemployment in the final quarter of 2004 remained unchanged from the third

Published 22 Mar, 2005 12:00am

Dell to step up India hires, plans East Europe plant

Dell Inc, the world's biggest maker of personal computers, said on Monday it would push deeper into low-cost countries by hiring another 1,200 staff for a call centre in India and building a factory in eastern Europe. Michael Dell, Texas-based Dell's 40-y

Published 22 Mar, 2005 12:00am

Pressure mounts on US in WTO cotton dispute

Pressure mounted on the United States on Monday to obey a world-trade ruling outlawing some of its multi-billion-dollar cotton subsidies. The World Trade Organisation (WTO) rubber stamped a ruling by its highest court, the Appellate Body, upholding a comp

Published 22 Mar, 2005 12:00am

Ball in US court on plane aid: Mandelson

European Union Trade Commissioner Peter Mandelson said on Monday he was still waiting for Washington to come back to him after talks on aircraft subsidies to plane makers Boeing and Airbus hit trouble last week. "The ball is in America's court. I'm lookin

Published 22 Mar, 2005 12:00am

EU stands its ground in transatlantic aircraft row

Europe stood its ground in a worsening transatlantic row over aircraft makers' subsidies on Monday, vowing it would not give up Airbus launch aid without concessions on support for its rival, Boeing. Washington broke off a truce between the two sides last

Published 22 Mar, 2005 12:00am

BBC plans to cut almost 4,000 jobs

The BBC on Monday announced plans to cut almost 4,000 jobs to save hundreds of millions of pounds, as the world's biggest public broadcaster undergoes a major shake-up. The BBC said it would slash 2,050 posts in the wake of 1,730 job losses confirmed earl

Published 22 Mar, 2005 12:00am

Dutch lead Europe in broadband usage

Nearly one in two households in the Netherlands has a broadband Internet connection making the Dutch the clear leaders in Europe, according to a survey unveiled on Monday. The number of broadband subscribers in the Netherlands grew 63 percent in 2004 to 3

Published 22 Mar, 2005 12:00am

New Zealand shares jump

New Zealand share prices closed 0.37 percent higher in light trade on Monday, with number two stocks Contact Energy providing much of the upward impetus, dealers said. The benchmark NZSX 50 Gross Index gained 11.64 points 3,140.84 on slim turnover worth 6

Published 22 Mar, 2005 12:00am

Taiwan's Taya to launch IPO in Vietnam

Taiwan's Taya Electric Wire and Cable will launch an initial public offering (IPO) worth about 2.3 million dollars in Vietnam next month, becoming the first foreign firm to list in the country, officials said on Monday. "We hope that we are the pioneer in

Published 22 Mar, 2005 12:00am

Taiwan stocks up as tech shares lead rebound

Taiwan stocks rose 0.25 percent on Monday, recovering further from a one-and-a-half-month low hit last week, with tech heavyweights like UMC shrugging off weakness in US peers and high oil prices. The main TAIEX share index ended up 15.01 points at 6,058.

Published 22 Mar, 2005 12:00am

Seoul shares end flat as GDP, jobs data eyed

Seoul shares ended flat on Monday, as higher oil prices dented investment sentiment, while investors turned more cautious ahead of domestic unemployment and economic growth data and a US Fed policy setting meeting. A dip in the South Korean won boosted ke

Published 22 Mar, 2005 12:00am

Sri Lankan stocks rally on Merchant Bank tie-up news

Sri Lankan stocks rose on Monday amid heavy buying in Merchant Bank of Sri Lanka after the company announced plans to team up with a regional bank to strengthen its capital market operations, brokers said. The key Colombo all-share index rose a provisiona

Published 22 Mar, 2005 12:00am

Indian shares keep falling trend

Indian shares resumed a falling trend on Monday, with investors worried about the impact of near record crude oil prices on growth and demand. Federal bonds also eased, with sentiment weighed down by rising crude oil prices, which dealers expect would rek

Published 22 Mar, 2005 12:00am

Asian dollar bond spreads weaken

Asian dollar bond spreads weakened slightly on Monday in caution ahead of Tuesday's policy meeting of the US Federal Reserve, with some expectations the central bank might drop the word "measured" from its statement. Trade was quiet in a shortened trading

Published 22 Mar, 2005 12:00am

Asian dollar bond spreads weaken

Published 22 Mar, 2005 12:00am

Philippines shares decline

Philippines share prices closed 0.80 percent lower on Monday with investors quick to take profits ahead of the long upcoming Easter break, dealers said. The market has been on the defensive in recent trade after this year's strong advance and this will li

Published 22 Mar, 2005 12:00am

Malaysian shares fall on oil price worries

Malaysian share prices closed 0.94 percent lower on Monday in listless trade as most investors stayed on the sidelines amid rising global oil price concerns, dealers said. The Kuala Lumpur Composite Index fell 8.38 points to 885.62. Volume was 445.86 mill

Published 22 Mar, 2005 12:00am

Singapore shares close slightly firmer

Singapore shares closed 0.14 percent higher on Monday on selective interest in blue chips, dealers said. "The market has been more positive in recent days due to interest in selective offshore and marine companies like Keppel Corp, while the casino announ

Published 22 Mar, 2005 12:00am

Hong Kong stocks finish with little changes

Hong Kong blue chip stocks ended little changed on Monday as investors eyed the prospect of another interest rate rise this week. Hong Kong's blue chip Hang Seng index closed up 0.04 percent, or 5.98 points, at 13,834.35, following last week's 0.45 percen

Published 22 Mar, 2005 12:00am

Australian shares soar

Australian share prices added 0.41 percent on Monday, extending the market's record breaking run on optimism that stocks still have further to go despite concerns about high oil costs, dealers said. The SP/ASX 200 rose 17.3 points at 4,266.4 while the bro

Published 22 Mar, 2005 12:00am

Jakarta shares at new record

Indonesian share prices closed 0.32 percent higher on Monday as gains in index heavyweight Telkom and second liners drove the benchmark index to a another record finish, dealers said. The Jakarta Stock Exchange composite index closed up 3.685 points at 1,

Published 22 Mar, 2005 12:00am

Thai share prices drop

Thai share prices closed 0.90 percent lower on Monday on profit-taking in big-cap shares as investors expressed concern over a domestic oil price hike, dealers said. BFIT Securities analyst Ekpittaya Aimkongeak said the trade volume was the lowest since D

Published 22 Mar, 2005 12:00am

Chinese shares led by Sinopec

China's shares closed up 0.3 percent on Monday, helped by technical buying among large-caps such as Sinopec Corp and Merchants Bank Co Ltd after four straight days of losses. The benchmark Shanghai composite index climbed to 1,231.046 points after having

Published 22 Mar, 2005 12:00am

Bangladeshi taka ends flat

The Bangladeshi taka ended unchanged at 63.20/63.70 per dollar on Monday, dealers said. Call money traded between 8.40 percent and 24.0 percent against 8.0 percent and 24.0 percent on Sunday, a workday in Bangladesh.

Published 22 Mar, 2005 12:00am

Swiss franc steady ahead of Fed meeting

The Swiss franc held steady against the dollar on Monday after the Swiss National Bank's decision last week to leave interest rates unchanged and ahead of a US Federal Reserve policy meeting later this week. The dollar changed hands at 1.1675/81 Swiss fra

Published 22 Mar, 2005 12:00am

Forex options market may be complacent on dollar/yen

The options market may be ill-prepared for sharp moves in the US dollar against the yen in the coming weeks, analysts and dealers warn. For the past four months, the dollar has bounced around between roughly 101.75 yen and 106.20 yen, frustrating spot mar

Published 22 Mar, 2005 12:00am

Dollar hits two-week high versus euro, Fed eyed

The dollar rose about half a percent against the euro on Monday to hit its highest in nearly two weeks on speculation the US Federal Reserve may adopt a more hawkish stance on interest rates this week. It also rose about a third of a percent to a 1-week h

Published 22 Mar, 2005 12:00am

Asian currencies: won and Taiwan dollar at three-week low on oil, US rates

The South Korean won and the Taiwan dollar fell to three-week lows on Monday as high oil prices threatened economic growth and talk of an acceleration in US interest rate rises took the shine off Asian assets. The won lost as much as half a percent to 1,0

Published 22 Mar, 2005 12:00am

Hong Kong dollar edges higher

The Hong Kong dollar edged higher against the greenback on Monday after local banks decided to raise interest rates. "The interest rate differential between the Hong Kong dollar and the US dollar has narrowed, so arbitrage trades are becoming less attract

Published 22 Mar, 2005 12:00am

Chinese yuan weaker

The yuan ended a notch weaker at 8.2765 per US dollar on Monday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,500 points, implying a rate of 7.928 yuan per dollar in 12 m

Published 22 Mar, 2005 12:00am

Tour de Pakistan

The 51 cyclists travelled throughout the 112km long distance from Lahore to Gujrat in heavy rain. The 9th stage of cycle race started from Lahore at 10:00 hours. The heavy rain disturbed all the hospitality arrangements made by the local administration of

Published 22 Mar, 2005 12:00am

Players union says contract talks with CA at a dead end

Australia's cricketers' union said on Monday negotiations with Cricket Australia (CA) over distribution of games revenue had reached an impasse. Australian Cricketers' Association chief executive Tim May said talks between the ACA and Cricket Australia we

Published 22 Mar, 2005 12:00am

New Zealand pray for rain to thwart Australia

New Zealand's shattered cricketers are looking to Wellington's fickle weather to help them salvage a draw from the second Test against Australia after they were left with a 326-run deficit at the end of the first innings Monday. The home side's innings in

Published 22 Mar, 2005 12:00am

Pakistan will overcome second Test loss: Woolmer

Pakistan coach Bob Woolmer on Monday praised India for winning the second Test, but vowed his team will come back strongly in the final Test to salvage the series. "I suppose India fared better than us for most of the Test. They deserved to win and it's n

Published 22 Mar, 2005 12:00am

Harbhajan reported again for suspect action

India's off-spinner Harbhajan Singh has been reported for a suspect bowling action for his second consecutive Test match and the third time in his career, the International Cricket Council (ICC) said on Monday. ICC match referee Chris Broad reported Harbh

Published 22 Mar, 2005 12:00am

Federer successfully defends title

Switzerland's Roger Federer won the Indian Wells ATP Masters Series tournament here on Sunday, defeating Lleyton Hewitt 6-2, 6-4, 6-4 in the final. The world number one Federer is undefeated in his past 17 finals and has won seven titles in eight tourname

Published 22 Mar, 2005 12:00am

National University convocation on March 26

The third convocation of National University of Computer and Emerging Sciences will be held at Lahore Campus on Saturday, March 26. Leader of the House in the Senate, Wasim Sajjad will be the chief guest at the convocation, according to a press release is

Published 22 Mar, 2005 12:00am

Leghari to represent Pakistan at BFA conference

Former President, Sardar Farooq Ahmed Khan Leghari will represent Pakistan at the annual conference of Boao Forum for Asia (BFA), scheduled to take place in China next month. He will be the key-speaker at the inaugural session, to be held on April 22 in C

Published 22 Mar, 2005 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 4	278.40
USD PKR Interbank Buying / Jun 4	278.20
USD to Japanese Yen / Jun 4	156.01
USD to Swiss Franc / Jun 4	0.90
Pound Sterling to USD / Jun 4	1.28
Euro to USD / Jun 4	1.09

Stock	Volume
S&P 500 / Jun 3	5283.40
Nasdaq / Jun 3	16828.67
Dow Jones / Jun 3	38571.03
India Sensex / Jun 4	70382.44
Tokyo Nikkei / Jun 4	38837.46
Hang Seng / Jun 4	18525.93
FTSE 100 / Jun 4	8215.10
Germany DAX 30 / Jun 4	18525.10

Item	Value
Karachi Cotton PKR/37.32 KG / Jun 3	19935
Crude Oil USD/Barrel / Jun 4	73.30
Gold 10 Grams PKR / Jun 4	206619
Gold Spot USD/Ounce / Jun 4	2346.95
Cotton US¢/pound / Jun 4	73.74
Petrol/Litre / Jun 5	268.36

Gainers
Losers
Leaders

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

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

Stock	Volume
P.I.A.C.(A) / Jun 5 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 5 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 5 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 5 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 5 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 5 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 5 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 5 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 5 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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