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Apr 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-02-19
Iraq suicide bombs kill 11

Iraq suicide bombs kill 11

Suicide car bombers killed at least 11 Iraqis and wounded 58 foreign troops on Wednesday in twin attacks on a military base south of Baghdad in the run up to a UN report on the feasibility of direct elections in Iraq.
Published 19 Feb, 2004 12:00am
US MIDDAY: copper shoots to eight-year high

US MIDDAY: copper shoots to eight-year high

COMEX copper futures soared to an eight-year peak on Wednesday morning, extending a recent scorching rally amid speculative buying and an ailing dollar, before weak US housing data trimmed the rise.
Published 19 Feb, 2004 12:00am
US MIDDAY: corn weak on mild setback

US MIDDAY: corn weak on mild setback

Chicago Board of Trade corn futures sagged on Wednesday, following losses in neighbouring wheat and soy, in a mild setback from Tuesday's rally, brokers said.
Published 19 Feb, 2004 12:00am
US MIDDAY: wheat falls to seven-week low

US MIDDAY: wheat falls to seven-week low

Soft red winter wheat futures at the Chicago Board of Trade fell sharply to a 7-week low early on Wednesday on news Egypt bought a large amount of wheat from Australia and none from the United States, traders said.
Published 19 Feb, 2004 12:00am
US MIDDAY: coffee hits five-week low

US MIDDAY: coffee hits five-week low

CSCE coffee futures continued to rack up losses Wednesday and prices cascaded lower, hitting a 5-week low with a 6.1 percent loss, as funds liquidated positions ahead of Thursday's first notice day, brokers said.
Published 19 Feb, 2004 12:00am
US MIDDAY: sugar futures flat

US MIDDAY: sugar futures flat

CSCE raw sugar futures were called to open flat to slightly higher on modest gains in London sugar prices, floor sources said.
Published 19 Feb, 2004 12:00am
Metals prices skyrocket, copper targets $3,000

Metals prices skyrocket, copper targets $3,000

Base metals soared on Wednesday on the London Metal Exchange (LME) as a staggering dollar and speculators pushed prices to highs not seen in almost a decade.
Published 19 Feb, 2004 12:00am
Silver see-saws in Europe, gold limps against euro

Silver see-saws in Europe, gold limps against euro

Spot silver set a fresh six-year high in Europe on Wednesday, only to pare its gains on profit-taking, while gold failed to capitalise on a record high on the euro/dollar.
Published 19 Feb, 2004 12:00am
Morocco allows first bread price hike in 15 years

Morocco allows first bread price hike in 15 years

Moroccan bakers clinched the first bread price hike in 15 years on Wednesday after the government yielded in to a tug-of-war with their union over the potentially explosive issue.
Published 19 Feb, 2004 12:00am
New York cotton ends lower

New York cotton ends lower

NYCE cotton closed lower Wednesday on speculative and fund sales after a spec/hedge report failed to show a net short fund position in the market, traders said.
Published 19 Feb, 2004 12:00am
Ukraine's grain exports to fall

Ukraine's grain exports to fall

Ukraine, hit by its worst grain harvest in 50 years in 2003, will cut its grain exports to 1.5 million tonnes in the 2003/04 season from 10.7 million tonnes a season ago, a top government official said on Wednesday.
Published 19 Feb, 2004 12:00am
US oil holds strong at over $35 a barrel

US oil holds strong at over $35 a barrel

Oil prices rose on Wednesday as the market braced for data predicted to show tighter gasoline stocks in the United States, the world's biggest energy consumer, while new dollar lows lent further support.
Published 19 Feb, 2004 12:00am
London cocoa at 27-month low

London cocoa at 27-month low

Liffe cocoa prices closed at a 27-month continuation low on Wednesday in a thin market as speculative offers put pressured on prices near the end of the session, dealers said.
Published 19 Feb, 2004 12:00am
Liffe coffee falls to six-week low

Liffe coffee falls to six-week low

London coffee futures fell on Wednesday as a weak New York market ahead of first notice day fuelled speculative liquidation and pressured prices down to a six-week continuation low, dealers said.
Published 19 Feb, 2004 12:00am
Oil takes a pause after jumping over $35 on gasoline

Oil takes a pause after jumping over $35 on gasoline

Oil prices slipped but kept a firm tone on Wednesday following an overnight jump as the market braced for tighter US gasoline supplies while the soft dollar lent some support.
Published 19 Feb, 2004 12:00am
Indonesia may import Thai and Vietnam rice

Indonesia may import Thai and Vietnam rice

Indonesian state logistics firm Bulog said on Wednesday it had contingency plans to import 50,000 tonnes of rice from Vietnam and Thailand if wet-season flooding pushed local prices significantly higher.
Published 19 Feb, 2004 12:00am
Soya futures strong on supply concerns

Soya futures strong on supply concerns

Soyabean futures at the Chicago Board of Trade rallied on Tuesday to close strong on renewed concerns about tight US supplies, traders said.
Published 19 Feb, 2004 12:00am
China to reap lowest winter wheat crop in 20 years

China to reap lowest winter wheat crop in 20 years

China, the world's top wheat producer and consumer, is set to reap its lowest winter wheat crop in about 20 years as cotton supplants the grain, a state think-tank said on Wednesday, opening the way for more imports.
Published 19 Feb, 2004 12:00am
CSCE sugar jumps

CSCE sugar jumps

CSCE raw sugar jumped to its highest price since February 4 on Tuesday, gapping upward at the open but closing well off the peaks in activity dominated by spread trading before March deliveries start next week.
Published 19 Feb, 2004 12:00am
Oil World expects palm oil prices to rise soon

Oil World expects palm oil prices to rise soon

Palm oil prices are likely to rise in the near to medium term because of low stocks and as buyers seek alternatives to high-priced soyaoil, Hamburg-based newsletter Oil World said.
Published 19 Feb, 2004 12:00am
Ukraine's sunoil output falls

Ukraine's sunoil output falls

Ukrainian vegetable oil refineries cut sunflower oil output by 4.1 percent in January this year to 124,000 tonnes from 134,000 tonnes in December, Ukraine's State Statistics Committee said on Wednesday.
Published 19 Feb, 2004 12:00am
Gold hedging falls 3.4 million ounces: Mitsui

Gold hedging falls 3.4 million ounces: Mitsui

Global gold mining companies are still cutting back on forward sales, with hedging in terms of committed ounces falling by 3.4 million ounces in the fourth quarter of 2003 to 73.1 million ounces, analysts said on Wednesday.
Published 19 Feb, 2004 12:00am
Shanghai copper posts new high

Shanghai copper posts new high

Shanghai copper futures posted a fresh record on Wednesday as contracts climbed their three-percent limit for the second straight day, lifting LME futures to 8-1/4 year highs, traders said.
Published 19 Feb, 2004 12:00am
Silver off six-year high in Asia, gold steady

Silver off six-year high in Asia, gold steady

Silver hit a 6-year high at $6.86 an ounce in Asia on Wednesday but quickly lost some of the gains to profit taking, which highlighted the metal's lack of resilience.
Published 19 Feb, 2004 12:00am
Tokyo gold up on profit-talking

Tokyo gold up on profit-talking

Tokyo gold futures posted modest gains on Wednesday, but lingering wariness over Japanese intervention in the currency market spurred profit-talking after a fresh four-week high was hit in trade, traders said.
Published 19 Feb, 2004 12:00am
New York copper ends at 7-3/4-year high

New York copper ends at 7-3/4-year high

Comex copper on Tuesday ended at levels unseen since May 1996 after a post-holiday buying spree pulled in buyers from all segments of the market, traders said.
Published 19 Feb, 2004 12:00am
Malaysian tin up $95, on par with LME

Malaysian tin up $95, on par with LME

Malaysian tin jumped $95 a tonne on Wednesday, on par with the metal's overnight gains in London backed by a bull-run in copper.
Published 19 Feb, 2004 12:00am
Tokyo rubber advances

Tokyo rubber advances

Tokyo rubber futures extended gains on Wednesday, reflecting the up-trend in the Singapore market, with investors keen to test key resistance levels.
Published 19 Feb, 2004 12:00am
US West Coast crude prices climb

US West Coast crude prices climb

Alaska North Slope crude prices climbed in the West Coast spot oil market on Tuesday because of rising NYMEX values, traders said.
Published 19 Feb, 2004 12:00am
General Mills sees profit at low

General Mills sees profit at low

General Mills Inc, the maker of Wheaties cereal and Progresso soups, on Tuesday forecast earnings at the low end of a prior range, hurt by higher costs and trends such as low-carbohydrate dieting.
Published 19 Feb, 2004 12:00am
General Mills sees profit at low

General Mills sees profit at low

General Mills Inc, the maker of Wheaties cereal and Progresso soups, on Tuesday forecast earnings at the low end of a prior range, hurt by higher costs and trends such as low-carbohydrate dieting.
Published 19 Feb, 2004 12:00am
New York cocoa mostly lower as rally stalls

New York cocoa mostly lower as rally stalls

CSCE cocoa futures finished a dull session mostly lower on Tuesday as traders found that buying linked to a weak US dollar could not generate a sustained rally and prices retreated, brokers said.
Published 19 Feb, 2004 12:00am
CSCE coffee edges up on speculative buying

CSCE coffee edges up on speculative buying

CSCE coffee closed higher on Tuesday as a back-and-forth session of spreads and local selling gave way to late spec buying ahead of a stocks report, brokers said.
Published 19 Feb, 2004 12:00am
Islamabad and Delhi agree road map for peace

Islamabad and Delhi agree road map for peace

The Foreign Secretaries of Pakistan and India concluded their talks here on Wednesday laying down a 'road map' to open a 'composite dialogue' for the resolution of bilateral disputes and forge a joint strategy to fight the menaces common to both.
Published 19 Feb, 2004 12:00am
Wheat up on grain market

Wheat up on grain market

Guwar registered a loss and wheat showed modest gain on the grain markets where a couple of the commodities also underwent variations on the seed and grain wholesale markets on Wednesday (February 18, 2004).
Published 19 Feb, 2004 12:00am
Islamabad and Delhi agree road map for peace

Islamabad and Delhi agree road map for peace

The Foreign Secretaries of Pakistan and India concluded their talks here on Wednesday laying down a 'road map' to open a 'composite dialogue' for the resolution of bilateral disputes and forge a joint strategy to fight the menaces common to both.
Published 19 Feb, 2004 12:00am
Listless trading in cotton market

Listless trading in cotton market

Spinners have adopted a wait and see attitude in view of the fact that yarn is not showing any improvement, relevant sources said. Only deal was reported from interior Sindh ginners visiting cotton market in Karachi, they said.
Published 19 Feb, 2004 12:00am
Chris Patten commends Eurobond

Chris Patten commends Eurobond

The European Union's External Relations Commissioner, Chris Patten, has commended the recent launching of Eurobonds by Pakistan and said their success reflected the confidence of investors in the country's economic policies.
Published 19 Feb, 2004 12:00am
Oil cake market rates

Oil cake market rates

The March vaida opened unchanged at Rs 437 and was highest also at the same level. However, lowest was quoted 50 paisa down at Rs 436.50 and closing was also seen at the same amount.
Published 19 Feb, 2004 12:00am
Chris Patten commends Eurobond

Chris Patten commends Eurobond

The European Union's External Relations Commissioner, Chris Patten, has commended the recent launching of Eurobonds by Pakistan and said their success reflected the confidence of investors in the country's economic policies.
Published 19 Feb, 2004 12:00am
Pakistan's palm oil imports seen up

Pakistan's palm oil imports seen up

Pakistan's palm oil imports were likely to increase in the coming weeks despite a rise in international prices because of the low stock position in the country, dealers said.
Published 19 Feb, 2004 12:00am
Chris Patten commends Eurobond

Chris Patten commends Eurobond

The European Union''s External Relations Commissioner, Chris Patten, has commended the recent launching of Eurobonds by Pakistan and said their success reflected the confidence of investors in the country''s economic policies.
Published 19 Feb, 2004 12:00am
Vietnam rice: Manila tender to govern prices

Vietnam rice: Manila tender to govern prices

Rice trade in Vietnam, the world's second-largest exporter, came to a virtual standstill on Wednesday as traders awaited details on bid prices and the winners of a tender in Manila before setting their own plans.
Published 19 Feb, 2004 12:00am
D-8 adopts declaration to enhance trade

D-8 adopts declaration to enhance trade

The daylong fourth summit of the D-8 on Wednesday adopted a 34-point declaration with determination to preserve and promote economic co-operation, peace, solidarity, mutual respect and tolerance by the member states.
Published 19 Feb, 2004 12:00am
Egypt buys 300,000 tonnes Aussie wheat

Egypt buys 300,000 tonnes Aussie wheat

Egypt's main official wheat buyer said on Wednesday it had bought 300,000 tonnes of Australian wheat for March 16-31 shipment.
Published 19 Feb, 2004 12:00am
D-8 adopts declaration to enhance trade

D-8 adopts declaration to enhance trade

The daylong fourth summit of the D-8 on Wednesday adopted a 34-point declaration with determination to preserve and promote economic co-operation, peace, solidarity, mutual respect and tolerance by the member states.
Published 19 Feb, 2004 12:00am
Kenyan coffee prices soar

Kenyan coffee prices soar

Kenyan coffee prices shot up at this week's auction on strong bidding by buyers trying to snap up good quality beans on offer from the main season's production, dealers said on Wednesday.
Published 19 Feb, 2004 12:00am
295 killed in Iranian train disaster

295 killed in Iranian train disaster

At least 295 people were killed and hundreds of others injured on Wednesday when runaway rail wagons loaded with an explosive cocktail of sulphur, petrol and fertiliser derailed and blew up in north-east Iran, local officials said.
Published 19 Feb, 2004 12:00am
Brazilian cocoa arrivals higher

Brazilian cocoa arrivals higher

Brazil's 2003-04 (May-April) cocoa arrivals from Bahia, other states and countries reached 3.1 million 60-kg bags by Feb. 15, up 6.9 percent from a year ago, the Bahia Commercial Association said on Wednesday.
Published 19 Feb, 2004 12:00am
295 killed in Iranian train disaster

295 killed in Iranian train disaster

At least 295 people were killed and hundreds of others injured on Wednesday when runaway rail wagons loaded with an explosive cocktail of sulphur, petrol and fertiliser derailed and blew up in north-east Iran, local officials said.
Published 19 Feb, 2004 12:00am
Ivory Coast producers smuggle coffee

Ivory Coast producers smuggle coffee

More and more coffee grown behind rebel lines in western Ivory Coast is being smuggled into neighbouring Guinea, helping to explain a sharp drop in official exports from Africa's biggest robusta grower.
Published 19 Feb, 2004 12:00am
KSE index 1.39 percent up

KSE index 1.39 percent up

Small movement in treasury bills rates revived confidence of financial institutions in stock market which executed fresh deals in the high yielding stocks, helping the index to close at 4900 points on Wednesday.
Published 19 Feb, 2004 12:00am
Indonesian crop output for 2004 seen rising

Indonesian crop output for 2004 seen rising

Indonesia's output of rice, corn, soyabeans, crude palm oil (CPO), coffee and cocoa is projected to rise in 2004, a minister said on Wednesday.
Published 19 Feb, 2004 12:00am
KSE index 1.39 percent up

KSE index 1.39 percent up

Small movement in treasury bills rates revived confidence of financial institutions in stock market which executed fresh deals in the high yielding stocks, helping the index to close at 4900 points on Wednesday.
Published 19 Feb, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 105,260 tonnes of cargo including 80,754 tonnes import and 24,506 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday.
Published 19 Feb, 2004 12:00am
Euro crosses Rs 74 mark

Euro crosses Rs 74 mark

The euro touched the new high versus the rupee on Wednesday for buying and selling at Rs 73.75 and Rs 74.05, respectively, money changers said.
Published 19 Feb, 2004 12:00am
Singapore bunker prices higher

Singapore bunker prices higher

Singapore bunker prices edged higher on Wednesday, up with firmer cargo market, while prices for the shipping fuel in Hong Kong and South Korea also rose on tight supplies.
Published 19 Feb, 2004 12:00am
Euro crosses Rs 74 mark

Euro crosses Rs 74 mark

The euro touched the new high versus the rupee on Wednesday for buying and selling at Rs 73.75 and Rs 74.05, respectively, money changers said.
Published 19 Feb, 2004 12:00am
Big Australian crop raises Asian feed wheat hopes

Big Australian crop raises Asian feed wheat hopes

Asian feed ingredient buyers, struggling for cargoes in the absence of Chinese corn export offers, are hoping to buy some feed wheat, a substitute for corn in feed making, from Australia, traders said on Wednesday.
Published 19 Feb, 2004 12:00am
Singapore firm wins rig contract

Singapore firm wins rig contract

Ship repair conglomerate Keppel Corp said on Wednesday it has signed a rig construction agreement with long time customer Ensco International worth US $55 million.
Published 19 Feb, 2004 12:00am
Argentina raises wheat crop and soya area forecasts

Argentina raises wheat crop and soya area forecasts

Argentina on Wednesday raised its 2003/04 wheat crop forecast to 14 million tonnes from 13.2 million tonnes last month, due to high yields in parts of the fertile Pampa region.
Published 19 Feb, 2004 12:00am
NAB being restructured, review of law and rules planned: General Hafiez

NAB being restructured, review of law and rules planned: General Hafiez

The Chairman of National Accountability Bureau, Lieutenant General Munir Hafiez, has said that the time is ripe to restructure the Bureau, redefine its functions, review some of the provisions of the Accountability Ordinance 2000 and bring it closer to th
Published 19 Feb, 2004 12:00am
Ukraine's sugar producers seek imports quota

Ukraine's sugar producers seek imports quota

Ukraine's sugar producers' association Ukrstukor said on Wednesday Ukraine should start importing raw cane sugar under this year's 125,000-tonnes import quota after June 1 to support local prices.
Published 19 Feb, 2004 12:00am
NAB being restructured, review of law and rules planned: General Hafiez

NAB being restructured, review of law and rules planned: General Hafiez

The Chairman of National Accountability Bureau, Lieutenant General Munir Hafiez, has said that the time is ripe to restructure the Bureau, redefine its functions, review some of the provisions of the Accountability Ordinance 2000 and bring it closer to th
Published 19 Feb, 2004 12:00am
Motorola sees handset prices rising in Asia

Motorola sees handset prices rising in Asia

Motorola Inc, the world's second-largest cellphone maker, said on Wednesday it expected its handsets' average selling prices in the South Asian region to rise this year, as it unveiled more high-end phones.
Published 19 Feb, 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 19 Feb, 2004 12:00am
EU 'Big Three' reject suggestions of domination

EU 'Big Three' reject suggestions of domination

The European Union's "Big Three", Germany, Britain and France, on Wednesday dismissed fears by other member states that they were seeking to dictate EU policy.
Published 19 Feb, 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 19 Feb, 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 Wednesday (February 18, 2004).
Published 19 Feb, 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 Wednesday (February 18, 2004).
Published 19 Feb, 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 Wednesday (February 18, 2004).
Published 19 Feb, 2004 12:00am
Ecnec approves over Rs 25 billion projects

Ecnec approves over Rs 25 billion projects

The second meeting of the second quarter of Executive Committee of the National Economic Council (Ecnec) approved seven projects of over Rs 25.47 billion. It also reviewed progress on the PSDP projects during the current financial year and put in place me
Published 19 Feb, 2004 12:00am
Ecnec approves over Rs 25 billion projects

Ecnec approves over Rs 25 billion projects

The second meeting of the second quarter of Executive Committee of the National Economic Council (Ecnec) approved seven projects of over Rs 25.47 billion. It also reviewed progress on the PSDP projects during the current financial year and put in place me
Published 19 Feb, 2004 12:00am
Growth quota auction negates QSC proposals: Prgmea

Growth quota auction negates QSC proposals: Prgmea

The Pakistan Readymade Garments Manufacturers and Exporters Association, (Prgmea) has urged the Commerce Minister to issue directives to stop the auction of growth quota in violation of the recommendations made by the Quota Supervisory Council (QSC).
Published 19 Feb, 2004 12:00am
Pakistan to ask Kuwait for extension of oil credit facility

Pakistan to ask Kuwait for extension of oil credit facility

Pakistan will ask Kuwait for the extension in two months credit facility for oil supply for one year and narrowing of the trade imbalance in favour of Pakistan in the upcoming Joint Ministerial Commission meeting, it is reliably learnt here on Tuesday.
Published 19 Feb, 2004 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The Senate of Pakistan is expected to lend temperance to the tone and tenor of legislation passed by house of original jurisdiction that in this country is the National Assembly.
Published 19 Feb, 2004 12:00am
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