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Print - 2004-01-16
Rationalisation of power tariff soon: Sherpao

Rationalisation of power tariff soon: Sherpao

With a view to providing relief to electricity consumers, the federal government is contemplating to take some important decisions for rationalising the power tariff.
Published 16 Jan, 2004 12:00am
Afghanistan frees 49 Pakistanis

Afghanistan frees 49 Pakistanis

The Afghan government on Thursday freed some 49 Pakistanis captured in the country during the US-led war against Taleban regime in late 2001, a spokesman for the Interior Ministry said.
Published 16 Jan, 2004 12:00am
Afghanistan frees 49 Pakistanis

Afghanistan frees 49 Pakistanis

The Afghan government on Thursday freed some 49 Pakistanis captured in the country during the US-led war against Taleban regime in late 2001, a spokesman for the Interior Ministry said.
Published 16 Jan, 2004 12:00am
'Negotiations started with Punjab minister's abductors'

'Negotiations started with Punjab minister's abductors'

The government of NWFP has started negotiations with the kidnappers of the Punjab Minister for Sports and Culture, Naeemullah Shahani for the safe and sound recovery, reliable sources in Fata secretariat told Business Recorder on Thursday.
Published 16 Jan, 2004 12:00am
KESC asked to overcome 1000-MW shortage

KESC asked to overcome 1000-MW shortage

Lieutenant General Saeed uz Zafar (Retd) Chairman, National Electric Power Regulatory Authority (Nepra), has asked the KESC management to expedite Hubco-KESC linkup with the Federal government and Wapda to overcome the over 1000-MW power shortage in Karac
Published 16 Jan, 2004 12:00am
DTO asks Tata to prove his resignation veracity

DTO asks Tata to prove his resignation veracity

The Director Trade Organisations (DTO), Ministry of Commerce (MoC), has finally taken notice and come into action to intervene in the current unsavoury atmosphere prevailing in the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and aske
Published 16 Jan, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
DTO asks Tata to prove his resignation veracity

DTO asks Tata to prove his resignation veracity

The Director Trade Organisations (DTO), Ministry of Commerce (MoC), has finally taken notice and come into action to intervene in the current unsavoury atmosphere prevailing in the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and aske
Published 16 Jan, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
Pakistan a potential place for investment: ICC chief

Pakistan a potential place for investment: ICC chief

Jean-Rene Fourtou, Chairman, International Chamber of Commerce (ICC), has said that the purpose of his visit to Pakistan is to take a stock of the prevailing investment climate in Pakistan and discuss ways and means with the government and business repres
Published 16 Jan, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
Pakistan a potential place for investment: ICC chief

Pakistan a potential place for investment: ICC chief

Jean-Rene Fourtou, Chairman, International Chamber of Commerce (ICC), has said that the purpose of his visit to Pakistan is to take a stock of the prevailing investment climate in Pakistan and discuss ways and means with the government and business repres
Published 16 Jan, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
Germany denies report Schroeder to rejig cabinet

Germany denies report Schroeder to rejig cabinet

A German government spokesman denied a newspaper report on Thursday that Chancellor Gerhard Schroeder is considering a cabinet reshuffle, including removing Finance Minister Hans Eichel and Interior Minister Otto Schily.
Published 16 Jan, 2004 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
China takes half of Intel's Asia sales ex-Japan

China takes half of Intel's Asia sales ex-Japan

China has consolidated its position as Intel Corp's number two market since surpassing Japan last year, and now accounts for more than half of regional consumption ex-Japan, its Asia Pacific chief said on Thursday.
Published 16 Jan, 2004 12:00am
JUI (Sami) threatens to quit Muttahida Majlis-i-Amal

JUI (Sami) threatens to quit Muttahida Majlis-i-Amal

Senator Maulana Samiul Haq has threatened to part ways with the Muttahida Majlis-i-Amal (MMA) if the Shariat bill is not presented in the parliament and operation in tribal belt not stopped.
Published 16 Jan, 2004 12:00am
14 injured in Karachi blast

14 injured in Karachi blast

At least 14 people were injured, two seriously, and more than 15 vehicles damaged when a locally made high intensity time device fitted in a stolen Suzuki High-Roof went off at about 3:15 pm at the gates of Holy Trinity Church on Fatima Jinnah Road on Thu
Published 16 Jan, 2004 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
14 injured in Karachi blast

14 injured in Karachi blast

At least 14 people were injured, two seriously, and more than 15 vehicles damaged when a locally made high intensity time device fitted in a stolen Suzuki High-Roof went off at about 3:15 pm at the gates of Holy Trinity Church on Fatima Jinnah Road on Thu
Published 16 Jan, 2004 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
POL prices increased

POL prices increased

The Oil Companies Advisory Committee and oil marketing companies raised their product prices in the range of 0.84 rupee to 1.75 rupees per litre effective from January 16, in line with international trends.
Published 16 Jan, 2004 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
POL prices increased

POL prices increased

The Oil Companies Advisory Committee and oil marketing companies raised their product prices in the range of 0.84 rupee to 1.75 rupees per litre effective from January 16, in line with international trends.
Published 16 Jan, 2004 12:00am
Barclays bid rates and maximum rates for payment of interest

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 16 Jan, 2004 12:00am
State Bank of Pakistan conversion rates

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 16 Jan, 2004 12:00am
Values score gains on Lahore Stock Exchange

Values score gains on Lahore Stock Exchange

Stimulated by fresh buying interest in fuel & energy sector, share values extended the overnight gains on the Lahore Stock Exchange (LSE) amid improvement in trade turnover.
Published 16 Jan, 2004 12:00am
Values score gains on Lahore Stock Exchange

Values score gains on Lahore Stock Exchange

Stimulated by fresh buying interest in fuel & energy sector, share values extended the overnight gains on the Lahore Stock Exchange (LSE) amid improvement in trade turnover.
Published 16 Jan, 2004 12:00am
Karachi Stock Exchange faring high

Karachi Stock Exchange faring high

The share prices maintained the winning streak as institutional support in gas, fertiliser and bank shares boosted the index where sentiment of general investors was cautious.
Published 16 Jan, 2004 12:00am
Karachi Stock Exchange faring high

Karachi Stock Exchange faring high

The share prices maintained the winning streak as institutional support in gas, fertiliser and bank shares boosted the index where sentiment of general investors was cautious.
Published 16 Jan, 2004 12:00am
FOB Gulf corn and soya offers mostly lower

FOB Gulf corn and soya offers mostly lower

US FOB corn and soyabean basis offers were mostly lower on Wednesday amid ample supplies and as high ocean freight kept a lid on demand, dealers said.
Published 16 Jan, 2004 12:00am
No room for extremism, says Musharraf

No room for extremism, says Musharraf

President General Pervez Musharraf said on Thursday that Pakistan would not allow its soil to be used for any terrorist activities.
Published 16 Jan, 2004 12:00am
No room for extremism, says Musharraf

No room for extremism, says Musharraf

President General Pervez Musharraf said on Thursday that Pakistan would not allow its soil to be used for any terrorist activities.
Published 16 Jan, 2004 12:00am
Economy on higher growth trajectory

Economy on higher growth trajectory

Pakistan's economy is on higher growth trajectory, which would result in improving living standard of people, increasing incomes and reducing poverty. The total grant assistance from the UN agencies is around $70 million per annum, which has helped in imp
Published 16 Jan, 2004 12:00am
Chile's copper export returns up

Chile's copper export returns up

Chile, the world's biggest copper producer, said Thursday its copper export returns rose 17.5 percent last year due to higher prices and mine expansions.
Published 16 Jan, 2004 12:00am
Economy on higher growth trajectory

Economy on higher growth trajectory

Pakistan's economy is on higher growth trajectory, which would result in improving living standard of people, increasing incomes and reducing poverty. The total grant assistance from the UN agencies is around $70 million per annum, which has helped in imp
Published 16 Jan, 2004 12:00am
Singapore bunker prices mixed

Singapore bunker prices mixed

Singapore bunker prices were mixed on Thursday, with fuel oil tracking cargo prices higher and marine gas oil down as the tight supply situation was seen easing.
Published 16 Jan, 2004 12:00am
Unit-linked insurance policies: projected return capped at 8 percent

Unit-linked insurance policies: projected return capped at 8 percent

The Securities and Exchange Commission of Pakistan (SECP) has capped the maximum return to eight percent for the insurance companies effective from February 1, 2004 to curb the tendency of these companies offering unrealistic rates to boost their sales of
Published 16 Jan, 2004 12:00am
Houston ship channel traffic limited to one-way

Houston ship channel traffic limited to one-way

As many as 26 ships are waiting to transit the Houston Ship Channel because vessel traffic is limited to one-way in daylight hours by dense fog on Thursday, according to the US Coast Guard and the Houston ship pilots association.
Published 16 Jan, 2004 12:00am
Unit-linked insurance policies: projected return capped at 8 percent

Unit-linked insurance policies: projected return capped at 8 percent

The Securities and Exchange Commission of Pakistan (SECP) has capped the maximum return to eight percent for the insurance companies effective from February 1, 2004 to curb the tendency of these companies offering unrealistic rates to boost their sales of
Published 16 Jan, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 91,454 tonnes of cargo including 53,730 tonnes import and 37,724 tonnes export cargo during last 24 hours ending at 0700 hours on Thursday.
Published 16 Jan, 2004 12:00am
Unit-linked insurance policies: projected return capped at 8 percent

Unit-linked insurance policies: projected return capped at 8 percent

The Securities and Exchange Commission of Pakistan (SECP) has capped the maximum return to eight percent for the insurance companies effective from February 1, 2004 to curb the tendency of these companies offering unrealistic rates to boost their sales of
Published 16 Jan, 2004 12:00am
CBOT wheat futures close higher

CBOT wheat futures close higher

Chicago Board of Trade wheat futures closed higher on Wednesday in another day of volatile trading with supportive exports countering the early bearish impact from speculative profit taking, traders said.
Published 16 Jan, 2004 12:00am
Talks with Pakistan as planned: Sinha

Talks with Pakistan as planned: Sinha

Pakistan-India dialogue will be held as planned next month because India was endeavouring to solve its problems with Pakistan including Kashmir independent of coming elections, said Indian Minister for External Affairs Yashwant Sinha on Thursday.
Published 16 Jan, 2004 12:00am
Cotton prices continue downward drift

Cotton prices continue downward drift

It is now nearly ten days that cotton prices in the domestic market have continued their downward journey. Buyers have been exhibiting only occasional interest to buy more cotton.
Published 16 Jan, 2004 12:00am
Talks with Pakistan as planned: Sinha

Talks with Pakistan as planned: Sinha

Pakistan-India dialogue will be held as planned next month because India was endeavouring to solve its problems with Pakistan including Kashmir independent of coming elections, said Indian Minister for External Affairs Yashwant Sinha on Thursday.
Published 16 Jan, 2004 12:00am
Cotton prices continue downward drift

Cotton prices continue downward drift

It is now nearly ten days that cotton prices in the domestic market have continued their downward journey. Buyers have been exhibiting only occasional interest to buy more cotton.
Published 16 Jan, 2004 12:00am
Oil cake market rates

Oil cake market rates

The January vaida, according to release, opened and closed at Rs 446.
Published 16 Jan, 2004 12:00am
Three tonnes hashish seized

Three tonnes hashish seized

The Anti-Narcotics Force (ANF) on Thursday seized three tonnes of hashish from a container bearing forged army markings, officials said.
Published 16 Jan, 2004 12:00am
Quality lots attract buyers in modest cotton trading

Quality lots attract buyers in modest cotton trading

Spinners remained on the look-out for quality lots in cotton market, which they relish to lift, relevant sources said. The trading trend however, depicts that spinners have restricted day's buying to more or less 8000 bales.
Published 16 Jan, 2004 12:00am
US lauds resumption of rail link

US lauds resumption of rail link

The United States on Thursday hailed the restoration of rail ties between India and Pakistan, saying it was one of several positive steps to build a base for broader rapprochement.
Published 16 Jan, 2004 12:00am
Jodia Bazar

Jodia Bazar

Steady conditions prevailed on the Jodia Bazar on Thursday (January 15, 2004) amid modest trading.
Published 16 Jan, 2004 12:00am
APHC faction chalks out strategy for talks with Delhi

APHC faction chalks out strategy for talks with Delhi

Kashmiri leaders met on Thursday to plan a strategy and choose representatives for high-level talks with the Indian government to resolve the decade old dispute in the Himalayan region.
Published 16 Jan, 2004 12:00am
Wheat higher on grain market

Wheat higher on grain market

Changes were a few on the seed and grain wholesale market, where commodities like grams, rice, juwar, rapeseeds and wheat transpired variations on Thursday (January 15, 2004).
Published 16 Jan, 2004 12:00am
Joint session of parliament summoned

Joint session of parliament summoned

President General Pervez Musharraf has summoned the joint session of the parliament on Saturday, January 17, at 11 am, Pakistan Television reported on Thursday.
Published 16 Jan, 2004 12:00am
New York coffee lower but buying interest surfaces

New York coffee lower but buying interest surfaces

CSCE coffee futures closed lower on Wednesday, as commodity funds withdrew their support and prices weakened until roaster and industry demand appeared below 68.50 cents for the March future, dealers said.
Published 16 Jan, 2004 12:00am
Joint session of parliament summoned

Joint session of parliament summoned

President General Pervez Musharraf has summoned the joint session of the parliament on Saturday, January 17, at 11 am, Pakistan Television reported on Thursday.
Published 16 Jan, 2004 12:00am
New York cocoa sinks as producer offers dominant

New York cocoa sinks as producer offers dominant

CSCE cocoa futures dropped to the downside on Wednesday for the third straight day, as light producer offers and arbitrage selling overcame limited industry and trade buying, brokers said.
Published 16 Jan, 2004 12:00am
Revenue Board extends SRO 410 till June 30

Revenue Board extends SRO 410 till June 30

The Central Board of Revenue (CBR) has extended SRO. 410(I)/2001 (Temporary Importation Scheme) facilitating 13 leading value added industries engaged in temporary import of raw materials for manufacture of export goods up to June 30, 2004.
Published 16 Jan, 2004 12:00am
Canada looks east to China for canola demand

Canada looks east to China for canola demand

China could buy as much as 600,000 tonnes of canola from Canada this year and has bought 360,000 tonnes as of January 1, the chief executive of Saskatchewan Wheat Pool said on Wednesday.
Published 16 Jan, 2004 12:00am
Revenue Board extends SRO 410 till June 30

Revenue Board extends SRO 410 till June 30

The Central Board of Revenue (CBR) has extended SRO. 410(I)/2001 (Temporary Importation Scheme) facilitating 13 leading value added industries engaged in temporary import of raw materials for manufacture of export goods up to June 30, 2004.
Published 16 Jan, 2004 12:00am
CBOT rough rice futures firm

CBOT rough rice futures firm

Chicago Board of Trade rough rice futures closed firm on Wednesday on light commission house and commercial buying, brokers said.
Published 16 Jan, 2004 12:00am
EU winter rapeseed plantings unchanged

EU winter rapeseed plantings unchanged

Although European demand for rapeseed is growing to make biodiesel fuel, European farmers were not able to increase their winter rapeseed plantings for 2004/05 because of poor weather, the US Agriculture Department said on Wednesday.
Published 16 Jan, 2004 12:00am
Tokyo rubber loses ground

Tokyo rubber loses ground

Tokyo rubber futures extended losses on Thursday in the absence of fresh incentives.
Published 16 Jan, 2004 12:00am
Tokyo gold down takes cue from bullion

Tokyo gold down takes cue from bullion

Tokyo gold futures fell on Thursday in line with spot bullion's decline in Asia, with selling on profit-taking outpacing buying.
Published 16 Jan, 2004 12:00am
Sindh to get 100,000 tonnes wheat from Centre

Sindh to get 100,000 tonnes wheat from Centre

The federal government on the request of the Sindh Chief Minister Sardar Ali Mohammed Khan Mahar has decided to release 100,000 tonnes of wheat to meet the shortage in the province, if any, sources said on Thursday.
Published 16 Jan, 2004 12:00am
China to import three million tonnes of wheat

China to import three million tonnes of wheat

China is likely to have a wheat deficit of about 20 million tonnes this year, which will lead to the import of three million tonnes, a report from a government grain think-tank said.
Published 16 Jan, 2004 12:00am
Sindh to get 100,000 tonnes wheat from Centre

Sindh to get 100,000 tonnes wheat from Centre

The federal government on the request of the Sindh Chief Minister Sardar Ali Mohammed Khan Mahar has decided to release 100,000 tonnes of wheat to meet the shortage in the province, if any, sources said on Thursday.
Published 16 Jan, 2004 12:00am
Comex gold dips below $420

Comex gold dips below $420

Comex gold tumbled on Wednesday as the dollar rose further after the US government reported the smallest trade deficit in 13 months and released data showing pipeline inflation remains quiescent.
Published 16 Jan, 2004 12:00am
Train link with India restored

Train link with India restored

After restoration of road and air links, rail relations have also been revived between India and Pakistan after a break of two years when 'Samjhota Express' carrying 65 passengers was seen off at the Lahore Railway Station on Thursday.
Published 16 Jan, 2004 12:00am
Gold down in Asia, US data restores faith in dollar

Gold down in Asia, US data restores faith in dollar

Gold came under pressure in Asian afternoon trade on Thursday due to profit-taking, extending losses on the Comex market, after buoyant US economic data helped to lift the US dollar, bullion dealers said.
Published 16 Jan, 2004 12:00am
Train link with India restored

Train link with India restored

After restoration of road and air links, rail relations have also been revived between India and Pakistan after a break of two years when 'Samjhota Express' carrying 65 passengers was seen off at the Lahore Railway Station on Thursday.
Published 16 Jan, 2004 12:00am
New Zealand wool prices ease

New Zealand wool prices ease

Wool prices mostly eased at Thursday's auction in Christchurch and Napier, Meat and Wool Innovation said in its market report.
Published 16 Jan, 2004 12:00am
High-priced gold losing lustre in Indian market

High-priced gold losing lustre in Indian market

Gold demand in India, the world's largest consumer, may fall 10 to 15 percent in 2004 from last year as high prices force consumers to suspend or cut purchases, traders said.
Published 16 Jan, 2004 12:00am
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