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Print - 2005-07-29
DHA water front project: reshaping entertainment on the beach front

DHA water front project: reshaping entertainment on the beach front

Waterfront Development the world over is seen as the show piece of a city, mirroring the life and rhythm of its people. The Water Front Development project has not only the potential to bring a qualitative transformation and uplift of the Clifton beach bu
Published 29 Jul, 2005 12:00am
Picic Bank to be functional by September 30

Picic Bank to be functional by September 30

Pakistan Industrial Credit and Investment Corporation (Picic) Managing Director Muhammad Ali Khoja has said the Picic Commercial Bank will be merged with Picic to become Picic Bank by September 30 this year. "The Picic Bank will be the sixth largest bank
Published 29 Jul, 2005 12:00am
Ecommerce Gateway (Pvt) Limited

Ecommerce Gateway (Pvt) Limited

Ecommerce Gateway Pvt Ltd is a Singapore based Event Management Company with Strategic partners and major operations in Pakistan. Since its inception in 2001, Ecommerce Gateway has, through a two-throng strategy, extended its reach to cover all major citi
Published 29 Jul, 2005 12:00am
Picic Bank to be functional by September 30

Picic Bank to be functional by September 30

Pakistan Industrial Credit and Investment Corporation (Picic) Managing Director Muhammad Ali Khoja has said the Picic Commercial Bank will be merged with Picic to become Picic Bank by September 30 this year. "The Picic Bank will be the sixth largest bank
Published 29 Jul, 2005 12:00am
An Event of Karachi Building Control Authority

An Event of Karachi Building Control Authority

Food, clothing and shelter are said to be the biggest human requirements since God Almighty sent us to the Mother Earth. Centuries passed and as humanity started to swell and beside clothing and food, the love to build an individual shelter for family mul
Published 29 Jul, 2005 12:00am
Factions to work for success of pullout: Qorei

Factions to work for success of pullout: Qorei

Armed factions pledged on Thursday to work with the Palestinian Authority to ensure the success of Israel's historic pullout from the Gaza Strip next month, prime minister Ahmed Qorei said. A recent wave of deadly violence has compounded fears that Israel
Published 29 Jul, 2005 12:00am
Message from Chairman ABAD

Message from Chairman ABAD

The presence of a strong devoted and hardworking personality took over the charge of Karachi Building Control Authority and immediately gained trust of people as their problems were being solved on priority basis and acclaimed admiration from the Housing
Published 29 Jul, 2005 12:00am
Northrop Grumman profit up on electronics, ups view

Northrop Grumman profit up on electronics, ups view

Defence contractor Northrop Grumman Corp on Thursday reported a 23 percent increase in quarterly earnings and raised yearly profit forecasts, helped by lower costs and rising sales of its electronic aerospace systems.
Published 29 Jul, 2005 12:00am
Message from Chief Controller KBCA

Message from Chief Controller KBCA

Its my honour and privilege to convey my sincere and heart felt felicitations to the people of Karachi on the happy occasion of this grand opening of International Housing Industry Exhibition, in Karachi.
Published 29 Jul, 2005 12:00am
Northrop Grumman profit up on electronics, ups view

Northrop Grumman profit up on electronics, ups view

Defence contractor Northrop Grumman Corp on Thursday reported a 23 percent increase in quarterly earnings and raised yearly profit forecasts, helped by lower costs and rising sales of its electronic aerospace systems.
Published 29 Jul, 2005 12:00am
Message from Care-Taker/District Coordination Officer Karachi

Message from Care-Taker/District Coordination Officer Karachi

My heartiest congratulations to Karachi Building Control Authority and ABAD on organising International Housing Industry Exhibition. KBCA assisted by ABAD and other stakeholder have joined hands to organise this unique Event "International Housing Industr
Published 29 Jul, 2005 12:00am
Fight against terrorism costs world trade $121 billion

Fight against terrorism costs world trade $121 billion

Preventing terrorism costs international business more than 100 billion euros (121 billion dollars), the German federation for external trade (BGA) said in a report on Thursday. Small and medium-sized firms are especially hard-hit as they have to pay for
Published 29 Jul, 2005 12:00am
Belarus clampdown on Polish minority angers Warsaw

Belarus clampdown on Polish minority angers Warsaw

Belarussian special forces stormed offices of the country's Polish minority on Thursday, prompting a protest from the European Union after Poland called for help from Brussels. Polish Foreign Minister Adam Rotfeld said relations between the Slav neighbour
Published 29 Jul, 2005 12:00am
Message from Minister of Housing & Works

Message from Minister of Housing & Works

"I wish to extend my heartiest congratulations to Brigadier (R) A.S. Nasir, Chief Controller KBCA for launching a unique Exhibition on Housing Industry. I pray that this Exhibition will further build up a deeper understanding between KBCA, ABAD, Stake-hol
Published 29 Jul, 2005 12:00am
BT posts mixed first quarter results

BT posts mixed first quarter results

BT Group Plc, Britain's largest fixed-line telecoms operator, beat some expectations with its best quarter of revenue growth for three years, but concerns about lower core earnings helped weigh on the stock.
Published 29 Jul, 2005 12:00am
Message from Chief Minister Sindh

Message from Chief Minister Sindh

I am very happy to address Karachiites that International Housing Exhibition augurs a message of hope that subject Exhibition will give them quality High Rises. The existing High Rises must be renovated and emphasis on Infrastructure to be so laid that qu
Published 29 Jul, 2005 12:00am
BT posts mixed first quarter results

BT posts mixed first quarter results

BT Group Plc, Britain's largest fixed-line telecoms operator, beat some expectations with its best quarter of revenue growth for three years, but concerns about lower core earnings helped weigh on the stock.
Published 29 Jul, 2005 12:00am
Message from Governor Sindh

Message from Governor Sindh

I would be glad to participate with the organisers in staging International Housing Exhibition on 29-31 July 2005. An Exhibition on Housing Industry was long over-due, to renovate the existing badly made buildings and to monitor those which have been appr
Published 29 Jul, 2005 12:00am
US Senate panel approves new SEC chief

US Senate panel approves new SEC chief

The nomination of Representative Christopher Cox to be US Securities and Exchange Commission chairman was approved by a Senate committee on Thursday and will go to the full Senate for final consideration. The Senate Banking Committee also voted to approve
Published 29 Jul, 2005 12:00am
Message from Prime Minister Pakistan

Message from Prime Minister Pakistan

I congratulate the Karachi Building Control Authority and other stakeholders in the housing industry for launching this International Exhibition on Housing. This should not be an ordinary show for it has a wide range of aims and objects.
Published 29 Jul, 2005 12:00am
Musharraf and Bush discuss terrorism

Musharraf and Bush discuss terrorism

US President George W. Bush and President Pervez Musharraf spoke by telephone on Thursday, after authorities nabbed a suspect in the murder of a US reporter, the White House said. "The President spoke with President Musharraf earlier today. They talked ab
Published 29 Jul, 2005 12:00am
US Midwest corn mixed, soya steady

US Midwest corn mixed, soya steady

Spot basis bids for corn were mixed in the US Midwest interior early on Thursday and country sales were active in a few areas, grain dealers said. Soybean bids had a firm tone in the eastern Midwest but soya processing bids declined in the west, where sev
Published 29 Jul, 2005 12:00am
Musharraf and Bush discuss terrorism

Musharraf and Bush discuss terrorism

US President George W. Bush and President Pervez Musharraf spoke by telephone on Thursday, after authorities nabbed a suspect in the murder of a US reporter, the White House said. "The President spoke with President Musharraf earlier today. They talked ab
Published 29 Jul, 2005 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices were lower on Thursday, despite higher 380-cst fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $245-$247 a tonne, unchanged from the previous day, on heavy demand. The differential to cargo values
Published 29 Jul, 2005 12:00am
Rs 35 billion revenue may be collected in July

Rs 35 billion revenue may be collected in July

The Central Board of Revenue (CBR) is likely to collect Rs 35 billion in the first month of the fiscal 2005-06 against Rs 30.8 billion collected in the same period last year. It is expected that the CBR will generate the amount in July 2005 keeping in vie
Published 29 Jul, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 108,026 tonnes of cargo including 92,991 tonnes import and 15,035 tonnes export cargo including 5,042 containers during last 24 hours ending at 0700 hours on Thursday. The cargo comprised of 71,955 tonnes dry cargo including 65,64
Published 29 Jul, 2005 12:00am
Rs 35 billion revenue may be collected in July

Rs 35 billion revenue may be collected in July

The Central Board of Revenue (CBR) is likely to collect Rs 35 billion in the first month of the fiscal 2005-06 against Rs 30.8 billion collected in the same period last year. It is expected that the CBR will generate the amount in July 2005 keeping in vie
Published 29 Jul, 2005 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

US hard red winter wheat basis bids were steady to firmer on Thursday, with movement slow and only routine to light demand, merchants said. The Gulf track market was 3 cents firmer, but otherwise the basis was unchanged. Protein premiums for railcar wheat
Published 29 Jul, 2005 12:00am
Rs 35 billion revenue may be collected in July

Rs 35 billion revenue may be collected in July

The Central Board of Revenue (CBR) is likely to collect Rs 35 billion in the first month of the fiscal 2005-06 against Rs 30.8 billion collected in the same period last year. It is expected that the CBR will generate the amount in July 2005 keeping in vie
Published 29 Jul, 2005 12:00am
South Korea buys aluminium at higher costs

South Korea buys aluminium at higher costs

South Korea bought non-western aluminium up to mid-2006 deliveries, paying $5-$10 a tonne more than the current quarter premiums, as the markets worry about tight supplies of Chinese metal, an industry source said. The Public Procurement Service said on T
Published 29 Jul, 2005 12:00am
NWFP and Wapda agree to resolve hydel profit issue

NWFP and Wapda agree to resolve hydel profit issue

NWFP Chief Minister Akram Khan Durrani on Thursday disclosed that NWFP and Wapda have signed an agreement for resolution of the longstanding dispute on net profit on hydel power generation. Addressing the concluding session of the Livestock Investment 200
Published 29 Jul, 2005 12:00am
FOB Gulf corn lower, slow movement firms soya

FOB Gulf corn lower, slow movement firms soya

US FOB Gulf corn basis offers were lower on Wednesday amid adequate supplies in the export pipeline and thin demand, while slow farmer selling firmed soyabean prices, traders said. Barge freight bids for shipment this week were mostly steady after easing
Published 29 Jul, 2005 12:00am
NWFP and Wapda agree to resolve hydel profit issue

NWFP and Wapda agree to resolve hydel profit issue

NWFP Chief Minister Akram Khan Durrani on Thursday disclosed that NWFP and Wapda have signed an agreement for resolution of the longstanding dispute on net profit on hydel power generation. Addressing the concluding session of the Livestock Investment 200
Published 29 Jul, 2005 12:00am
Thai rice prices seen firm

Thai rice prices seen firm

Thai rice prices are expected to hold firm in thin trade over the next week as the market awaits a cabinet reshuffle which could result in a shift in rice policy. Thai export prices for most grades were up $5-7 a tonne on a free-on-board basis, excluding
Published 29 Jul, 2005 12:00am
NWFP and Wapda agree to resolve hydel profit issue

NWFP and Wapda agree to resolve hydel profit issue

NWFP Chief Minister Akram Khan Durrani on Thursday disclosed that NWFP and Wapda have signed an agreement for resolution of the longstanding dispute on net profit on hydel power generation. Addressing the concluding session of the Livestock Investment 200
Published 29 Jul, 2005 12:00am
CBOT wheat futures higher on fund buying

CBOT wheat futures higher on fund buying

Wheat futures at the Chicago Board of Trade closed higher on Wednesday as fund buying helped the market recover from a sharp decline, traders said. CBOT wheat closed 2 cents per bushel higher to 1/2 lower. September was up 2 at $3.30-1/2 per bushel.
Published 29 Jul, 2005 12:00am
IRA announces end to armed activity

IRA announces end to armed activity

The Irish Republican Army announced an end to its armed campaign against British rule in Northern Ireland on Thursday, in a move British leader Tony Blair said could mark the day "politics replaces terror" there. But the province's main pro-British Protes
Published 29 Jul, 2005 12:00am
Oil cake market rates

Oil cake market rates

Futures moved higher on the forward cottonseed oilcake market on Thursday as fears of short supply position pushed the buyers to cover the forward buying, dealers said. The December vaida commenced on firm note at Rs 422.50 that proved to be day's lowest
Published 29 Jul, 2005 12:00am
IRA announces end to armed activity

IRA announces end to armed activity

The Irish Republican Army announced an end to its armed campaign against British rule in Northern Ireland on Thursday, in a move British leader Tony Blair said could mark the day "politics replaces terror" there. But the province's main pro-British Protes
Published 29 Jul, 2005 12:00am
Activity seen picking up on cotton market

Activity seen picking up on cotton market

Improved activity was seen in the local cotton market on Thursday as heavy rains and speculations of pest attack in the cotton growing area propelled some mills and spinners to buy to meet the urgent needs, dealers said. The Karachi Cotton Association (KC
Published 29 Jul, 2005 12:00am
Widespread erosion on KSE

Widespread erosion on KSE

Bargain hunters stole the show and took advantage of the rally build up during the session, resulting in widespread erosion, pushing the index into the minus column. The KSE-100 index recorded a small decline of 2.16 points, or 0.03 percent, to 7215.44 as
Published 29 Jul, 2005 12:00am
Ivory Coast cocoa arrivals down

Ivory Coast cocoa arrivals down

Cocoa arrivals at ports in Ivory Coast reached 1,139,405 tonnes between October 1, 2004 and July 18, 2005, according to an estimate by major exporters seen by Reuters on Thursday. That compared with 1,281,751 tonnes delivered to ports in the same period o
Published 29 Jul, 2005 12:00am
Widespread erosion on KSE

Widespread erosion on KSE

Bargain hunters stole the show and took advantage of the rally build up during the session, resulting in widespread erosion, pushing the index into the minus column. The KSE-100 index recorded a small decline of 2.16 points, or 0.03 percent, to 7215.44 as
Published 29 Jul, 2005 12:00am
Dyes prices down on Jodia Bazar

Dyes prices down on Jodia Bazar

The trading on dyes sector moved downward here on Jodia Bazar on Thursday. The following changes were seen in the Sandye pink F5B down Rs 10 to Rs 135, Red R down Rs 10 to Rs 130, Lemon yellow GSN down Rs 10 to Rs 100, Golden Yellow 5GR down Rs 3 to Rs 10
Published 29 Jul, 2005 12:00am
Widespread erosion on KSE

Widespread erosion on KSE

Bargain hunters stole the show and took advantage of the rally build up during the session, resulting in widespread erosion, pushing the index into the minus column. The KSE-100 index recorded a small decline of 2.16 points, or 0.03 percent, to 7215.44 as
Published 29 Jul, 2005 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Mixed trading was seen on the grain market on Thursday as a few buyers participated in the proceedings, dealers said. On the cereals side, Makai low type shed Rs 50 to Rs 900 while the better type did not move any side due to balanced demand and supply po
Published 29 Jul, 2005 12:00am
NBP ranked among top 10 banks

NBP ranked among top 10 banks

National Bank of Pakistan has earned the distinction of being among the top 10 banks of the world in ''Best Profit on Capital'' category as announced by the world-renowned The Banker magazine. According to a press release, the bank has also been included
Published 29 Jul, 2005 12:00am
New crop cotton arrivals increasing

New crop cotton arrivals increasing

New crop (2005-06) cotton arrivals are expected to increase over the next month (August 2005) as flood waters are mostly expected to recede. However, recent record downpour in neighbouring Mumbai (India) has put in an element of caution in case the monsoo
Published 29 Jul, 2005 12:00am
NBP ranked among top 10 banks

NBP ranked among top 10 banks

National Bank of Pakistan has earned the distinction of being among the top 10 banks of the world in 'Best Profit on Capital' category as announced by the world-renowned The Banker magazine. According to a press release, the bank has also been included in
Published 29 Jul, 2005 12:00am
New crop cotton arrivals increasing

New crop cotton arrivals increasing

New crop (2005-06) cotton arrivals are expected to increase over the next month (August 2005) as flood waters are mostly expected to recede. However, recent record downpour in neighbouring Mumbai (India) has put in an element of caution in case the monsoo
Published 29 Jul, 2005 12:00am
NBP ranked among top 10 banks

NBP ranked among top 10 banks

National Bank of Pakistan has earned the distinction of being among the top 10 banks of the world in 'Best Profit on Capital' category as announced by the world-renowned The Banker magazine. According to a press release, the bank has also been included in
Published 29 Jul, 2005 12:00am
New York coffee slides more than two percent

New York coffee slides more than two percent

New York Board of Trade arabica coffee futures fell more than 2 percent on Wednesday, with fund liquidation and producer hedging driving the front-month price back below a psychological level of $1 per pound, traders said.
Published 29 Jul, 2005 12:00am
Indian floods toll reaches 786

Indian floods toll reaches 786

Floods, landslides and building collapses caused by India's heaviest-ever recorded rainfall have killed at lest 786 people and brought the financial capital Mumbai to a near-standstill, police said on Thursday. Weather officials predicted more heavy rain
Published 29 Jul, 2005 12:00am
New York cocoa closes at one-month high after funds buy

New York cocoa closes at one-month high after funds buy

The benchmark cocoa futures price on the New York Board of Trade rose 1.5 percent on Wednesday to its highest in a month, with fund buying and positive technical signals keeping the market aloft for the third straight day, traders said.
Published 29 Jul, 2005 12:00am
Indian floods toll reaches 786

Indian floods toll reaches 786

Floods, landslides and building collapses caused by India's heaviest-ever recorded rainfall have killed at lest 786 people and brought the financial capital Mumbai to a near-standstill, police said on Thursday. Weather officials predicted more heavy rain
Published 29 Jul, 2005 12:00am
MGE wheat up in thin trade, yield reports

MGE wheat up in thin trade, yield reports

Hard red spring wheat futures at the Minneapolis Grain Exchange closed higher on Wednesday amid thin volume with crop tour reports barely average potential yields of US spring wheat this year contributing to the advances, traders said. "We were almost unc
Published 29 Jul, 2005 12:00am
10 killed in Indian train blast

10 killed in Indian train blast

An explosion on a train in northern India on Thursday killed 10 people and injured 49 others, a senior railway officer said. The blast took place on a moving train near the town of Jaunpur in the state of Uttar Pradesh. The cause of the explosion was not
Published 29 Jul, 2005 12:00am
Comex copper up after strong data, record high

Comex copper up after strong data, record high

New York copper futures finished with hefty gains on Wednesday, after soaring to successive new highs following a raft of economic news that portrayed US growth as steady and strong, traders said. In addition to the robust demand scenario, traders said, t
Published 29 Jul, 2005 12:00am
10 killed in Indian train blast

10 killed in Indian train blast

An explosion on a train in northern India on Thursday killed 10 people and injured 49 others, a senior railway officer said. The blast took place on a moving train near the town of Jaunpur in the state of Uttar Pradesh. The cause of the explosion was not
Published 29 Jul, 2005 12:00am
Tokyo gold rises, platinum at 15-month high

Tokyo gold rises, platinum at 15-month high

Tokyo gold futures advanced for a fourth consecutive session to a one-week high on Thursday as market sentiment turned more bullish on continued yen weakness. The benchmark platinum contract on the Tokyo Commodity Exchange rallied as high as 3,123 yen per
Published 29 Jul, 2005 12:00am
No US pressure on Iran gas pipeline: Aiyar

No US pressure on Iran gas pipeline: Aiyar

Indian Petroleum Minister Mani Shankar Aiyar on Thursday informed the Lok Sabha that there was no US "pressure" on India on Iran gas pipeline, however confirmed that at least two US officials had expressed reservations over the project.
Published 29 Jul, 2005 12:00am
New York gold higher on speculative buying, rollover

New York gold higher on speculative buying, rollover

US gold futures bounced from a one-week low to end higher on Wednesday, hoisted by fund and broker buying after the dollar failed to rally on unexpectedly strong US durable goods data. Silver got a lift on dealer buying due to firm gold and copper surging
Published 29 Jul, 2005 12:00am
No US pressure on Iran gas pipeline: Aiyar

No US pressure on Iran gas pipeline: Aiyar

Indian Petroleum Minister Mani Shankar Aiyar on Thursday informed the Lok Sabha that there was no US "pressure" on India on Iran gas pipeline, however confirmed that at least two US officials had expressed reservations over the project.
Published 29 Jul, 2005 12:00am
Gold holds above $424 in Asia, trades narrowly

Gold holds above $424 in Asia, trades narrowly

Gold held in Asia on Thursday near New York levels, taking its cue from a steadier US dollar but trade was thin ahead of the release of US second-quarter gross domestic data later this week. Spot gold was quoted at $424.70/425.20 an ounce barely changed f
Published 29 Jul, 2005 12:00am
No US pressure on Iran gas pipeline: Aiyar

No US pressure on Iran gas pipeline: Aiyar

Indian Petroleum Minister Mani Shankar Aiyar on Thursday informed the Lok Sabha that there was no US "pressure" on India on Iran gas pipeline, however confirmed that at least two US officials had expressed reservations over the project.
Published 29 Jul, 2005 12:00am
Malaysia's July palm oil output up 3.5 percent

Malaysia's July palm oil output up 3.5 percent

Output of palm oil in Malaysia, the world's top producer, could be 3.5 percent higher in July than June as crops begin a fresh ascent in yield, a Reuters survey showed on Thursday. Closing stocks could be up 8.59 percent, said analysts from five plantatio
Published 29 Jul, 2005 12:00am
Dialogue process with India to continue: Prime Minister

Dialogue process with India to continue: Prime Minister

Prime Minister Shaukat Aziz has said composite dialogue process with India would be pushed forward despite negative statements emanating from New Delhi. Talking to newsmen here on Thursday, the Prime Minister, however, stressed inevitable need to resolve
Published 29 Jul, 2005 12:00am
Oil edges higher after US gasoline stocks slide

Oil edges higher after US gasoline stocks slide

Oil prices cruised above $59 a barrel on Thursday after a decline in weekly US gasoline inventories highlighted capacity constraints in the refining system, overshadowing a rise in distillates stocks. US light sweet crude for September delivery rose 34 ce
Published 29 Jul, 2005 12:00am
Dialogue process with India to continue: Prime Minister

Dialogue process with India to continue: Prime Minister

Prime Minister Shaukat Aziz has said composite dialogue process with India would be pushed forward despite negative statements emanating from New Delhi. Talking to newsmen here on Thursday, the Prime Minister, however, stressed inevitable need to resolve
Published 29 Jul, 2005 12:00am
New York sugar ends mixed

New York sugar ends mixed

Raw sugar futures finished mixed on Wednesday as mild profit-taking and producer sales kept key October in negative territory, but the sweetener is still poised to hit the psychological 10-cents level, analysts said. NYBOT's October sugar futures contract
Published 29 Jul, 2005 12:00am
OMCs and oil dealers benefit from high global prices

OMCs and oil dealers benefit from high global prices

High rates of petroleum products in the international market has turned out as a blessing for oil marketing companies (OMCs) and dealers whose margin went up by 40 percent during July 2004 to 2005.
Published 29 Jul, 2005 12:00am
Shanghai copper hits record high

Shanghai copper hits record high

Shanghai copper futures ended up on Thursday after hitting all-time highs in intrude trading, as domestic sentiment won a boost from the London Metal Exchange's record highs overnight. Shanghai's most active October contract ended at 34,360 yuan ($4,236)
Published 29 Jul, 2005 12:00am
OMCs and oil dealers benefit from high global prices

OMCs and oil dealers benefit from high global prices

High rates of petroleum products in the international market has turned out as a blessing for oil marketing companies (OMCs) and dealers whose margin went up by 40 percent during July 2004 to 2005.
Published 29 Jul, 2005 12:00am
Turkish cotton prices fall, volume surges

Turkish cotton prices fall, volume surges

Turkish cotton prices fell and trading volume soared this week as the country's largest co-operative Taris sold heavily, dealers said on Thursday. Benchmark Standard-1 average cotton fell to 1.86 lira per kg (1.391 per tonne) this week for payments 10 day
Published 29 Jul, 2005 12:00am
OMCs and oil dealers benefit from high global prices

OMCs and oil dealers benefit from high global prices

High rates of petroleum products in the international market has turned out as a blessing for oil marketing companies (OMCs) and dealers whose margin went up by 40 percent during July 2004 to 2005.
Published 29 Jul, 2005 12:00am
Malaysian tin dips as Europeans show less interest

Malaysian tin dips as Europeans show less interest

Tin fell slightly in Malaysian trade on Thursday as European appetite for the metal waned after a lower close in London. Spot tin on the Kuala Lumpur Tin Market (KLTM) settled $14 lowers on Thursday at $7,035 a tonne, on a volume of 53 tonnes.
Published 29 Jul, 2005 12:00am
Police swoop on suspected militants

Police swoop on suspected militants

Mass detentions overnight in south-west city of Quetta took the number of suspected militants and Islamist activists arrested nation-wide to over 700 during the past week, police said on Thursday. President Pervez Musharraf ordered the crackdown in the wa
Published 29 Jul, 2005 12:00am
Asian rubber: China scours for rubber as supplies tighten

Asian rubber: China scours for rubber as supplies tighten

China is scrambling to buy rubber but there is precious little to be found in Asia. Rubber stocks in Shanghai have fallen more than 80 percent to 20,000 tonnes in the past few months, dealers said on Thursday, adding that the world's largest consumer woul
Published 29 Jul, 2005 12:00am
170 women submit papers in Dir and Battagram

170 women submit papers in Dir and Battagram

Defying a ban by tribal leaders, more than 170 women have applied to stand in local government elections in Upper Dir and Battagram districts of NWFP, officials said on Thursday. The nominations came after the government called decisions barring women fro
Published 29 Jul, 2005 12:00am
CBOT rice falls on profit-taking setback

CBOT rice falls on profit-taking setback

Rough rice futures at the Chicago Board of Trade closed lower on Wednesday on a profit-taking setback after this week's climb to a near one-month top, traders said. But volume was Very light. September rice closed 5-1/2 cents lower at $6.74-1/2 and Novemb
Published 29 Jul, 2005 12:00am
London attacks organiser detained in Zambia

London attacks organiser detained in Zambia

CNN television reported on Thursday that a suspected organiser of the London bomb attacks, Haroon Aswat, has been detained in Zambia. The report, which quoted US and Zambian officials, said there were now international negotiations over who would get acce
Published 29 Jul, 2005 12:00am
Kenya says loss due to coffee berry disease minimal

Kenya says loss due to coffee berry disease minimal

Kenyan coffee officials said on Thursday the threat of coffee berry disease (CBD) on the crop in the main coffee growing areas of central Kenya was insignificant despite worries expressed by some industry players.
Published 29 Jul, 2005 12:00am
President and Prime Minister condole with India

President and Prime Minister condole with India

President General Pervez Musharraf and Prime Minister Shaukat Aziz have condoled the tragic loss of precious lives caused by unprecedented torrential rains in the Indian state of Maharashtra. In their separate messages to the Indian President and the Prim
Published 29 Jul, 2005 12:00am
Soya rises in Asia on dry weather forecasts

Soya rises in Asia on dry weather forecasts

Chicago Board of Trade soyabean futures rose in Asia on Thursday on forecasts for drier, hotter weather in the United States next week after recent rain, traders said. "The forecast for next 10 days seems to be hot and dry again," a Singapore-based trader
Published 29 Jul, 2005 12:00am
Fire erupts at Texas chemical plant

Fire erupts at Texas chemical plant

A series of explosions and a massive fire rocked a chemical plant in Fort Worth, Texas on Thursday afternoon. A massive plume of thick, black smoke towered above the plant and could be seen for miles. Bright red flames tore through the plant's exterior wa
Published 29 Jul, 2005 12:00am
Malaysian palm oil higher but outlook soft

Malaysian palm oil higher but outlook soft

Malaysian crude palm oil futures were up on Thursday, tailing a rally in the US soyoil. But dealers said prices could be under pressure in the near term as plantation groups expect both production and stocks of palm oil to rise in July over June.
Published 29 Jul, 2005 12:00am
Rain emergency in Hyderabad

Rain emergency in Hyderabad

City District Government Hyderabad has declared an emergency in the district with immediate effect and asked heads of concerned departments to cancel leave of their staff members. Department heads were also asked to ensure availabi1ity of entire staff in
Published 29 Jul, 2005 12:00am
New Zealand shares close flat, ease off record high

New Zealand shares close flat, ease off record high

New Zealand share prices closed flat on Thursday, easing off a record high, after early gains prompted by rises on Wall Street were erased by losses in market leader Telecom, dealers said. The benchmark NZSX-50 gross index fell 1.04 points to 3,356.92 on
Published 29 Jul, 2005 12:00am
SRO to facilitate flour import by private sector soon

SRO to facilitate flour import by private sector soon

The government has decided to allow import of wheat flour by the private sector to curb the tendency of hoarding the commodity and the CBR would issue an SRO to facilitate the import. Official sources told Business Recorder here on Wednesday that t
Published 29 Jul, 2005 12:00am
Morgan Stanley to cut 1,000 brokers

Morgan Stanley to cut 1,000 brokers

Morgan Stanley will cut about 1,000 of the financial advisers in its underperforming retail brokerage, the US investment bank said in an internal memo on Thursday. The memo from co-President Zoe Cruz, which was obtained by Reuters, also said the Wall Stre
Published 29 Jul, 2005 12:00am
SRO to facilitate flour import by private sector soon

SRO to facilitate flour import by private sector soon

The government has decided to allow import of wheat flour by the private sector to curb the tendency of hoarding the commodity and the CBR would issue an SRO to facilitate the import. Official sources told Business Recorder here on Wednesday that t
Published 29 Jul, 2005 12:00am
Oracle, Israel to cooperate in start-up centre

Oracle, Israel to cooperate in start-up centre

US software giant Oracle Corp signed an agreement on Thursday with Israel's Office of the Chief Scientist to establish a technological support centre for Israeli start-ups. Under the agreement, Oracle will provide technology and know-how to Israeli start-
Published 29 Jul, 2005 12:00am
SRO to facilitate flour import by private sector soon

SRO to facilitate flour import by private sector soon

The government has decided to allow import of wheat flour by the private sector to curb the tendency of hoarding the commodity and the CBR would issue an SRO to facilitate the import. Official sources told Business Recorder here on Wednesday that t
Published 29 Jul, 2005 12:00am
Japan may impose duties on US goods

Japan may impose duties on US goods

Japan is considering imposing retaliatory duties on US goods to counter subsidies paid by Washington to companies under an anti-dumping programme ruled illegal by the World Trade Organisation, government officials said on Thursday. The Nihon Keizai busine
Published 29 Jul, 2005 12:00am
Rangebound activity on LSE

Rangebound activity on LSE

Range-bound activity prevailed on Lahore Stock Exchange (LSE), as most of key players did not show any interest in a lack-luster market without knowing the fate of the recommendations prepared by the 17-member Shaukat Tarin Committee. The LSE-25 index cam
Published 29 Jul, 2005 12:00am
Eurozone liquidity up

Eurozone liquidity up

Eurozone money supply yet again exceeded the European Central Bank's inflation-fighting target and market expectations with a 7.5 percent increase in June, ECB data showed on Thursday. The data, plus French and Italian reports of rising producer prices, u
Published 29 Jul, 2005 12:00am
Rangebound activity on LSE

Rangebound activity on LSE

Range-bound activity prevailed on Lahore Stock Exchange (LSE), as most of key players did not show any interest in a lack-luster market without knowing the fate of the recommendations prepared by the 17-member Shaukat Tarin Committee. The LSE-25 index cam
Published 29 Jul, 2005 12:00am
Siemens quarterly profit tumble

Siemens quarterly profit tumble

Siemens missed quarterly profit forecasts on Thursday and said it saw earnings flat over the full year despite finally shedding its loss-making mobile-phones unit, driving its shares down more than 3 percent. Operating profit fell by more than a quarter t
Published 29 Jul, 2005 12:00am
eCDS to be launched from August 1

eCDS to be launched from August 1

The Central Depository Company has announced the launch of a re-engineered version of its existing Central Depository System (CDS), termed eCDS from Monday (August 1). The new system is designed to offer the benefits of improved maintainability, better ap
Published 29 Jul, 2005 12:00am
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