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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-01-27
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 27 Jan, 2004 12:00am
ITIF inaugurated

ITIF inaugurated

The government has set a target to attract $1 billion foreign investment in the country during the current year.
Published 27 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 27 Jan, 2004 12:00am
LSE index down 59.29 points

LSE index down 59.29 points

Following selling pressure, notably in fuel & energy sector, share values underwent massive battering, with the index moving down by 59.29 points on the local equity market on the first day of the week.
Published 27 Jan, 2004 12:00am
LSE index down 59.29 points

LSE index down 59.29 points

Following selling pressure, notably in fuel & energy sector, share values underwent massive battering, with the index moving down by 59.29 points on the local equity market on the first day of the week.
Published 27 Jan, 2004 12:00am
Heavy badla rates pare share values

Heavy badla rates pare share values

Selling by financial institutions and general investors erupted in the first session of the new week after significant increase in heavy badla rates, reducing share index by 85 points.
Published 27 Jan, 2004 12:00am
Egypt to lift aluminium output

Egypt to lift aluminium output

Egypt Aluminium's plan to boost production by 50 percent to 300,000 tonnes a year is ahead of schedule by two years, an official at the plant's state holding company Metallurgical Industries said on Monday.
Published 27 Jan, 2004 12:00am
Heavy badla rates pare share values

Heavy badla rates pare share values

Selling by financial institutions and general investors erupted in the first session of the new week after significant increase in heavy badla rates, reducing share index by 85 points.
Published 27 Jan, 2004 12:00am
Oil cake market rates

Oil cake market rates

Sliding trend was witnessed on the forward cottonseed oilcake market as the January vaida matured amid thin activity.
Published 27 Jan, 2004 12:00am
Argentine corn sales up

Argentine corn sales up

Argentine sales of 2002/03 corn totalled 11.04 million tonnes by January 23, up from 11.02 million tonnes the week before, the agriculture department said on Monday.
Published 27 Jan, 2004 12:00am
Karzai signs decree making new constitution law

Karzai signs decree making new constitution law

President of Afghanistan Hamid Karzai signed into law Afghanistan's new constitution on Monday, more than three weeks after the document was approved by a grand assembly, officially enshrining a presidential system of government for the country.
Published 27 Jan, 2004 12:00am
Thin activity seen on grain market

Thin activity seen on grain market

Thin activity was seen with most of the buyers kept on the sidelines due to less buying interest on Monday (January 26, 2004).
Published 27 Jan, 2004 12:00am
Nuclear proliferation probe progressing well

Nuclear proliferation probe progressing well

Investigations into alleged nuclear proliferation by Pakistani scientists is progressing satisfactorily and of the four being investigated "one or two" are likely to be set free shortly, Information Minister Sheikh Rashid Ahmad said here on Monday.
Published 27 Jan, 2004 12:00am
Nuclear proliferation probe progressing well

Nuclear proliferation probe progressing well

Investigations into alleged nuclear proliferation by Pakistani scientists is progressing satisfactorily and of the four being investigated "one or two" are likely to be set free shortly, Information Minister Sheikh Rashid Ahmad said here on Monday.
Published 27 Jan, 2004 12:00am
Japan feed corn imports down

Japan feed corn imports down

Japan's customs-cleared imports of corn for animal feed fell 1.4 percent in December from a year earlier to 1,064,782 tonnes, preliminary data from the Ministry of Finance (MOF) showed on Monday.
Published 27 Jan, 2004 12:00am
South African crops remain parched despite rains

South African crops remain parched despite rains

South Africa remains gripped by crop-threatening drought despite the torrential rains that drenched parts of the country last week, the water affairs department said on Monday.
Published 27 Jan, 2004 12:00am
Nymex complex weakens as US weather concerns ease

Nymex complex weakens as US weather concerns ease

Nymex natural gas, heating oil and crude futures fell on Monday in Asia following forecasts that predicted a chill in the United States would loosen its grip later this week.
Published 27 Jan, 2004 12:00am
Indian cotton prices not feasible; no ban on export

Indian cotton prices not feasible; no ban on export

High prices of Indian cotton are not viable for Pakistani importers though India has put no restriction on export of raw cotton to Pakistan, importers in Karachi said on Monday.
Published 27 Jan, 2004 12:00am
Massive Russian barley exports to cut stocks

Massive Russian barley exports to cut stocks

Relatively high Russian barley output coupled with historically high world prices is fuelling massive exports, which may severely dent domestic stocks.
Published 27 Jan, 2004 12:00am
Indian cotton prices not feasible; no ban on export

Indian cotton prices not feasible; no ban on export

High prices of Indian cotton are not viable for Pakistani importers though India has put no restriction on export of raw cotton to Pakistan, importers in Karachi said on Monday.
Published 27 Jan, 2004 12:00am
Key al Qaeda operative captured in Iraq: Bush

Key al Qaeda operative captured in Iraq: Bush

An al Qaeda operative with close ties to the suspected mastermind of the September 11, 2001, attacks was captured last week in Iraq, President George W. Bush said on Monday.
Published 27 Jan, 2004 12:00am
Singapore oil product swaps

Singapore oil product swaps

Singapore oil product swaps prices tracked crude lower in post-holiday trade on Monday and naphtha lost nearly $2 on easing concerns over supplies from Algeria.
Published 27 Jan, 2004 12:00am
Greenspan renews call to stop protectionism

Greenspan renews call to stop protectionism

Federal Reserve chairman Alan Greenspan, renewing his call against protectionism, said Monday that free markets have worked best to limit economic downturns in the past few decades and boost living standards.
Published 27 Jan, 2004 12:00am
Ukraine hopes to refine 1.46 million tonnes sugar in 2004

Ukraine hopes to refine 1.46 million tonnes sugar in 2004

Ukraine's National sugar producers' association Ukrtsukor said on Monday the country hoped to produce 1.461 million tonnes of white sugar from sugar beets in 2004 compared with 1.453 million tonnes in 2003.
Published 27 Jan, 2004 12:00am
Malaysian palm oil exports

Malaysian palm oil exports

Malaysian palm oil exports for January 1-25 stood at 734,063 tonnes, up from 716,816 for December 1-25, cargo surveyor Societe Generale de Surveillance (SGS) said in a shipment estimate released on Monday.
Published 27 Jan, 2004 12:00am
Delhi admits Islamabad's sincerity for peace talks

Delhi admits Islamabad's sincerity for peace talks

The responsible Indian leaders have at last started admitting that Pakistan is sincere in its talks for resolving all issues peacefully which augurs well for the improved relations between the two neighbours.
Published 27 Jan, 2004 12:00am
Delhi admits Islamabad's sincerity for peace talks

Delhi admits Islamabad's sincerity for peace talks

The responsible Indian leaders have at last started admitting that Pakistan is sincere in its talks for resolving all issues peacefully which augurs well for the improved relations between the two neighbours.
Published 27 Jan, 2004 12:00am
March Oman crude oil stable

March Oman crude oil stable

Asian differentials for March lifting Oman crude oil were stable from last week at MOG minus three/minus eight cents in thin activity, traders said on Monday.
Published 27 Jan, 2004 12:00am
Bolan Bank controlling interest sold

Bolan Bank controlling interest sold

The Bolan Bank Ltd has been taken over by a well-known industrial group, headed by Iqbal Ali Mohammad of Gul Ahmed Textile fame who has acquired about 40 percent shares from the owners.
Published 27 Jan, 2004 12:00am
Gold retreats in Asia, eyes on euro and dollar

Gold retreats in Asia, eyes on euro and dollar

Spot gold fell in Asian trade on Monday and was seen moving in a $405 to $415 an ounce range this week, depending on how the dollar fares against other major currencies.
Published 27 Jan, 2004 12:00am
Bolan Bank controlling interest sold

Bolan Bank controlling interest sold

The Bolan Bank Ltd has been taken over by a well-known industrial group, headed by Iqbal Ali Mohammad of Gul Ahmed Textile fame who has acquired about 40 percent shares from the owners.
Published 27 Jan, 2004 12:00am
Oil weakens as US weather concerns ease

Oil weakens as US weather concerns ease

Benchmark oil prices eased on Monday, but stayed close to 10-month highs, after forecasters predicted a chill in the United States would loosen its grip.
Published 27 Jan, 2004 12:00am
Bolan Bank controlling interest sold

Bolan Bank controlling interest sold

The Bolan Bank Ltd has been taken over by a well-known industrial group, headed by Iqbal Ali Mohammad of Gul Ahmed Textile fame who has acquired about 40 percent shares from the owners.
Published 27 Jan, 2004 12:00am
Seven firms picked for Kotri downstream studies

Seven firms picked for Kotri downstream studies

The government has nominated seven national and international firms for conducting two Kotri downstream studies and asked these firms to submit revised rates by February 9.
Published 27 Jan, 2004 12:00am
Soya up in Asia on tight supply concerns

Soya up in Asia on tight supply concerns

Chicago Board of Trade (CBOT) soybeans and soy products extended gains in Asia on Monday on concerns about tight US supplies and hopes for increased soymeal use, Asian traders said.
Published 27 Jan, 2004 12:00am
Seven firms picked for Kotri downstream studies

Seven firms picked for Kotri downstream studies

The government has nominated seven national and international firms for conducting two Kotri downstream studies and asked these firms to submit revised rates by February 9.
Published 27 Jan, 2004 12:00am
Task force to suggest reversal of power tariff hike

Task force to suggest reversal of power tariff hike

Prime Minister's Task Force on Power Tariffs Rationalisation is to recommend reversal of past decisions regarding the hike of the tariff, which adversely affected electricity consumers.
Published 27 Jan, 2004 12:00am
Task force to suggest reversal of power tariff hike

Task force to suggest reversal of power tariff hike

Prime Minister's Task Force on Power Tariffs Rationalisation is to recommend reversal of past decisions regarding the hike of the tariff, which adversely affected electricity consumers.
Published 27 Jan, 2004 12:00am
Ukraine raises tariff for ZALK smelter

Ukraine raises tariff for ZALK smelter

Ukraine's National Commission for Power Regulation said on Monday it had increased the electricity tariff for the country's sole aluminium smelter, ZALK, to $20.54 per megawatt hour in February from $19.53 in January.
Published 27 Jan, 2004 12:00am
Russian Gai contained copper output rises

Russian Gai contained copper output rises

Russia's Gai ore enrichment plant produced 76,182 tonnes of copper in concentrate in 2003, a spokesman for the Urals Mining and Metals Co (UMMC), which controls the plant, said on Monday.
Published 27 Jan, 2004 12:00am
Ukraine's Agmin seeks larger spring wheat area

Ukraine's Agmin seeks larger spring wheat area

Ukraine, faced with its worse wheat crop in 50 years, plans to promote spring wheat planting and hopes to harvest 2.5 million tonnes of spring wheat annually, a top official was quoted on Monday as saying.
Published 27 Jan, 2004 12:00am
Zambian copper mine begins repair work

Zambian copper mine begins repair work

Zambian Luanshya Copper Mines (LCM) started extensive rehabilitation on Monday at its Baluba mine, closed for almost three years, Swiss owner J&W Holdings said.
Published 27 Jan, 2004 12:00am
White House may tighten animal feed rules

White House may tighten animal feed rules

The Bush administration is preparing to tighten rules on animal feed, human food and dietary supplements as pressure heats up to lower the risk of mad-cow disease, the Wall Street Journal said on Monday.
Published 27 Jan, 2004 12:00am
Russian Sibneft sees oil output up 20 percent

Russian Sibneft sees oil output up 20 percent

Russia's fifth largest oil firm Sibneft, which is in the process of divorce from bigger partner YUKOS, said on Monday it planned to maintain healthy oil output growth at 20 percent this year.
Published 27 Jan, 2004 12:00am
Brazil adopts US mad cow safeguard for beef exports

Brazil adopts US mad cow safeguard for beef exports

Brazil's Agriculture Ministry said late Friday it had adopted the mad cow safeguard of banning sick or injured cattle for human consumption, as requested by the United States of world beef exporters.
Published 27 Jan, 2004 12:00am
US Midwest soya basis stronger, corn holds

US Midwest soya basis stronger, corn holds

Spot corn basis bids were steady to firmer in the US Midwest Monday and soyabean sales were quiet, while corn bids were unchanged and some locations were seeing scattered corn movement, dealers said.
Published 27 Jan, 2004 12:00am
Asian metals: Japan grapples with copper shortage

Asian metals: Japan grapples with copper shortage

Copper cathode producers in Japan are trying to trim exports and buy more metal to supplement their own production and to maintain deliveries to their domestic customers, traders and smelter officials said on Monday.
Published 27 Jan, 2004 12:00am
Egypt seeks up to 55,000 tonnes wheat

Egypt seeks up to 55,000 tonnes wheat

An official from Egypt's state Holding Company for Food Industries (HCFI) said on Monday it was tendering for 30-55,000 tonnes of US, Canadian, French or Australian hard or soft wheat for February 10-20 shipment.
Published 27 Jan, 2004 12:00am
Russia bans poultry from more states

Russia bans poultry from more states

Russia has added Cambodia, Indonesia, Thailand and Taiwan to the list of countries from which it had suspended imports of poultry for fear of bird flu, the Agriculture Ministry said on Monday.
Published 27 Jan, 2004 12:00am
South Korea confirms new bird flu cases

South Korea confirms new bird flu cases

South Korea confirmed on Monday a fresh case of the bird flu at a chicken farm and planned to slaughter more chickens living near the affected area, the Agricultural Ministry said.
Published 27 Jan, 2004 12:00am
EU puts Thailand in deep freeze over bird flu

EU puts Thailand in deep freeze over bird flu

Thai poultry imports will be off supermarket shelves in the European Union for at least five months, the European Commission said on Monday, dampening any hope in Bangkok for a quick end to the crisis.
Published 27 Jan, 2004 12:00am
Less worry about cold in US Plains wheat

Less worry about cold in US Plains wheat

Worries are diminishing over harm to the US Great Plains hard red winter wheat crop because it will not be as freezing this week as originally thought, a private forecaster said Monday.
Published 27 Jan, 2004 12:00am
OOIL looks at Singapore terminal operation

OOIL looks at Singapore terminal operation

Container ship operator Orient Overseas (International) Ltd, owned by the family of Hong Kong Chief Executive Tung Chee-hwa, said on Monday it was considering operating its own container terminal in Singapore.
Published 27 Jan, 2004 12:00am
Argentine wheat sales rise

Argentine wheat sales rise

Argentine sales of 2003/04 wheat totalled 3.08 million tonnes by January 23, up from 3.06 million tonnes a week before, the agriculture department said on Monday.
Published 27 Jan, 2004 12:00am
Singapore bunker prices mixed

Singapore bunker prices mixed

Singapore bunker prices were mixed on Monday with 380-centistoke (cst) material steady to stronger and 180-cst down with crude.
Published 27 Jan, 2004 12:00am
Turkish straits reopened to tanker traffic

Turkish straits reopened to tanker traffic

Turkish maritime authorities said on Monday the Bosphorus and Dardanelles waterways have been reopened to normal shipping after last week's closures due to severe weather conditions.
Published 27 Jan, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 68,191 tonnes of cargo including 60,569 tonnes import and 7,622 tonnes export cargo during last 24 hours ending at 0700 hours on Monday.
Published 27 Jan, 2004 12:00am
LME metals hold cautiously in ranges at kerb close

LME metals hold cautiously in ranges at kerb close

Open-outcry trading was slow in Monday's official rings on the London Metal Exchange (LME), with minor gains in the afternoon paring earlier losses, market sources said.
Published 27 Jan, 2004 12:00am
New York cotton settles easier

New York cotton settles easier

NYCE cotton futures ended easier Monday on grower, trade and speculative sales which aborted an attempt to pierce a technical barrier in the market, analysts said.
Published 27 Jan, 2004 12:00am
European gold edges up

European gold edges up

Gold bullion prices gained ground on earlier losses in Monday's afternoon trade in Europe, encouraged by a slightly weakened dollar and fresh buying in New York, traders said.
Published 27 Jan, 2004 12:00am
World oil prices fall as US freeze eases

World oil prices fall as US freeze eases

Oil prices dropped further from recent 10-month highs on Monday after forecasters predicted a deep chill in the United States, the world's thirstiest oil consumer, would loosen its grip and lower demand for heating fuel.
Published 27 Jan, 2004 12:00am
Parmalat debt eight times as big as managers said

Parmalat debt eight times as big as managers said

Parmalat said on Monday it had net debts of 14 billion euros ($17.6 billion) in September, almost eight times the figure given by the food group's former top managers, most of whom are now under arrest.
Published 27 Jan, 2004 12:00am
Parmalat debt eight times as big as managers said

Parmalat debt eight times as big as managers said

Parmalat said on Monday it had net debts of 14 billion euros ($17.6 billion) in September, almost eight times the figure given by the food group's former top managers, most of whom are now under arrest.
Published 27 Jan, 2004 12:00am
Sanofi makes $60.66 billion hostile bid for Aventis

Sanofi makes $60.66 billion hostile bid for Aventis

French drugs firm Sanofi-Synthelabo SA launched a 47.8-billion-euro ($60.66 billion) hostile bid for larger rival Aventis SA on Monday in a move to create the world's third largest pharmaceuticals group.
Published 27 Jan, 2004 12:00am
WTO sends US sanctions row to arbitration

WTO sends US sanctions row to arbitration

The World Trade Organisation (WTO) on Monday called for arbitration in a row pitting the United States against the European Union and others over a request for hundreds of millions of dollars in trade sanctions.
Published 27 Jan, 2004 12:00am
Japanese trade surplus surges in December

Japanese trade surplus surges in December

Japanese trade surplus in December rose 41.2 percent from a year earlier to 1.12 trillion yen (10.6 billion dollars), posting the sixth straight month of gains despite a surging yen, the finance ministry said Monday.
Published 27 Jan, 2004 12:00am
Lukoil wins major Saudi gas contract

Lukoil wins major Saudi gas contract

Russian oil and gas giant Lukoil signed Monday a contract with Saudi Arabia for the exploration and production of gas north of the Rubi al-Khali or Empty Quarter desert in the first deal of its kind in the kingdom involving a Russian company, Saudi offici
Published 27 Jan, 2004 12:00am
BoE slams 'paranoid conspiracy allegations' in BCCI case

BoE slams 'paranoid conspiracy allegations' in BCCI case

Bank of England lawyers rejected as "paranoid conspiracy allegations" Monday charges that officials deliberately lied over the collapse of the Bank of Credit and Commerce International in 1991.
Published 27 Jan, 2004 12:00am
SEC seeks closer ties with EU market regulators

SEC seeks closer ties with EU market regulators

US Securities and Exchange Commission (SEC) Chairman William Donaldson called on Monday for greater co-operation with EU market regulators to help prevent damaging corporate scandals like the one at Parmalat.
Published 27 Jan, 2004 12:00am
Britain snubs BAE and Boeing in multibillion dollar aircraft order

Britain snubs BAE and Boeing in multibillion dollar aircraft order

The British government has snubbed the country's leading defence contractor BAE Systems over a huge contract to provide the Royal Air Force with refuelling aircraft, preferring the pan-European EADS group instead, it was announced Monday.
Published 27 Jan, 2004 12:00am
Global growth to top G7 agenda: Snow

Global growth to top G7 agenda: Snow

US Treasury Secretary John Snow on Monday said speeding up global economic growth will be at the top of the agenda at an upcoming meeting of top finance officials from the world's leading economies.
Published 27 Jan, 2004 12:00am
Europe and US send mixed signals on forex action need

Europe and US send mixed signals on forex action need

European and US officials gave conflicting signals about the need for action to curb volatile exchange rates on Monday as the world's industrialised countries prepared for a key meeting next month.
Published 27 Jan, 2004 12:00am
US CBO sees $477 billion deficit in 2004

US CBO sees $477 billion deficit in 2004

The Congressional Budget Office on Monday forecast a slight improvement in this year's record federal budget deficit, but new evidence of worsening deficits over the next decade pose political problems for President George W. Bush in this election year.
Published 27 Jan, 2004 12:00am
Malaysian shares rise, off new 42-month high

Malaysian shares rise, off new 42-month high

Banking stocks led Malaysian shares to a higher close on Monday, with the key index touching a new 42-month high at one stage as investors built on positions taken before the Lunar New Year holiday.
Published 27 Jan, 2004 12:00am
Philippines stocks drop on profit-taking and economy

Philippines stocks drop on profit-taking and economy

Philippines stocks closed lower for the third straight session on Monday as further profit-taking eroded recent gains in telecom stocks such as PLDT after the market hit its highest in nearly three years last week.
Published 27 Jan, 2004 12:00am
Samsung powers Seoul shares to 20-month high

Samsung powers Seoul shares to 20-month high

South Korean shares climbed nearly one percent to end at a 20-month high on Monday, with active foreign buying driving market leader Samsung Electronics Co Ltd to an all-time high.
Published 27 Jan, 2004 12:00am
Singapore shares soar on blue chips

Singapore shares soar on blue chips

Singapore's key share index ended at a fresh 34-month high on Monday driven by investor appetite for blue chips such as DBS Group Holdings and Singapore Airlines
Published 27 Jan, 2004 12:00am
Will tax 'steroids' help stocks perform again?

Will tax 'steroids' help stocks perform again?

When stocks were suffering a summer slowdown last year, the Bush tax cuts juiced up the economy and spurred Wall Street on to its best full year since 1999.
Published 27 Jan, 2004 12:00am
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