The United Bank on Wednesday presented its first complete year financial statements after privatisation with a net profit of Rs 4.5 billion, showing 63 percent growth.
Egypt's Sugar and Integrated Industries Company (SIIC) sold 36,000 tonnes of sugar molasses for $55 per tonne FOB for shipment between March 20 and May 15 from Alexandria port, a company official said on Wednesday.
Kenyan tea prices continued to ease on quality at this week's auction and many buyers kept away as they expected a rise in deliveries to weigh on prices at coming auctions, traders said.
Profit taking activity on Wednesday trimmed the gains made early during the day's proceedings and the index closed with a paltry improvement where volume stayed above 300 million shares level.
Profit taking activity on Wednesday trimmed the gains made early during the day's proceedings and the index closed with a paltry improvement where volume stayed above 300 million shares level.
Tight supply due to soaring export demand has put a lid on rice trade in Vietnam, the world's second largest exporter of the grain, dealers said on Wednesday.
Sluggish growth of construction sector in the wake of high steel prices has once again clearly pointed towards the fickle nature of growth projections often relied upon by allied construction industries, like cement etc.
Strong marriage-season buying of gold jewellery in India is likely to lift demand for the yellow metal in the world's largest consumer from next month, provided prices do not fluctuate much, traders said on Wednesday.
Sluggish growth of construction sector in the wake of high steel prices has once again clearly pointed towards the fickle nature of growth projections often relied upon by allied construction industries, like cement etc.
The State Bank of Pakistan has allowed the yield on one-year treasury bills to cross the two percent mark, signalling to the market to gradually raise lending rates as the inflation has started picking up.
Singapore bunker prices rose on Wednesday on support from tight prompt supply and Tuesday's rise in benchmark crude to its highest level in a year, traders said.
The State Bank of Pakistan has allowed the yield on one-year treasury bills to cross the two percent mark, signalling to the market to gradually raise lending rates as the inflation has started picking up.
The Karachi Port handled 103,243 tonnes of cargo including 96,080 tonnes import and 7,163 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday.
The State Bank of Pakistan has allowed the yield on one-year treasury bills to cross the two percent mark, signalling to the market to gradually raise lending rates as the inflation has started picking up.
The State Bank of Pakistan has revised the methodology for stating non-performing loans which makes it clear that banks and DFIs will no longer club accrued mark-up with the principal loans and advances.
Wheat futures at the Chicago Board of Trade closed mixed on Tuesday, with the nearby months hit by speculative profit-taking late in the trading session, traders said.
The State Bank of Pakistan has revised the methodology for stating non-performing loans which makes it clear that banks and DFIs will no longer club accrued mark-up with the principal loans and advances.
India's palm oil imports are likely to dip by more than 25 percent to less than one million tonnes in the three months from March with more domestic supply available after a good crop, dealers said on Wednesday.
President General Pervez Musharraf has expressed the hope that the current Pakistan-India cricket series will serve as a precursor for better relationship between the two South Asian countries in future.
Pakistan's palm oil market remained mixed to bullish over the past week but dealers said on Wednesday importers were reluctant to place big orders due to high international prices.
President General Pervez Musharraf has expressed the hope that the current Pakistan-India cricket series will serve as a precursor for better relationship between the two South Asian countries in future.
The March vaida opened unchanged at Rs 439, and highest was quoted 50 paisa better at Rs 439.50. Later in depressed trading it lost the gain to turn lowest at Rs 439 and closing was also seen at the same amount.
Karachi Port Trust (KPT) has shelved the plan for setting up the country's first dedicated Container Freight Station (CFS) in the proximity of Thole Produce Yard (TPX). The project had been awarded to private sector at a cost of about Rs 640 million.
Movement was evident on the cotton markets as spinners resumed calculated buying after a long gap to observe the price trend, the relevant sources said on Wednesday.
Karachi Port Trust (KPT) has shelved the plan for setting up the country's first dedicated Container Freight Station (CFS) in the proximity of Thole Produce Yard (TPX). The project had been awarded to private sector at a cost of about Rs 640 million.
The United States will soon announce new sanctions against Syria as a state sponsor of terrorism, Deputy Secretary of State Richard Armitage said Wednesday.
The United States will soon announce new sanctions against Syria as a state sponsor of terrorism, Deputy Secretary of State Richard Armitage said Wednesday.
More than 100 US-led soldiers backed by 900 Afghan troops are preparing to conduct a "major offensive" against Taleban near the border with Pakistan, an official said on Wednesday.
CSCE cocoa futures finished higher Tuesday as short-covering by funds and short-term speculators encountered little selling from producers, according to brokers.
More than 100 US-led soldiers backed by 900 Afghan troops are preparing to conduct a "major offensive" against Taleban near the border with Pakistan, an official said on Wednesday.
For the first time since the ouster of Iraqi President Saddam Hussein, exporters on Tuesday made a large US wheat sale to Iraq - a market long off-limits to US farm exports and dominated by wheat-growing rival Australia.
The National Tariff Commission (NTC) has initiated investigations into alleged dumping of acrylic tow in Pakistan from Uzbekistan. Investigations have been initiated in response to Dewan Salman Fibre complaint.
Shanghai copper ended down on Wednesday as contracts failed to hold onto strong early rises for the second consecutive day, sliding off intraday highs as market sentiment stayed poor, traders said.
The National Tariff Commission (NTC) has initiated investigations into alleged dumping of acrylic tow in Pakistan from Uzbekistan. Investigations have been initiated in response to Dewan Salman Fibre complaint.
COMEX copper prices mostly gained on Tuesday, with nearby contracts reaching a two-week peak, bolstered by speculative interest and Far Eastern buying in the face of a weak US dollar, dealers said.
An oath-taking ceremony to include some new ministers in Sindh Cabinet will be held at Governor's House here on March 18 at 1.30 pm. It was officially stated here on Wednesday.
Tokyo platinum futures extended losses on Wednesday as the yen's strength against the dollar again induced active profit-taking, but solid bids emerged after the key contract hit a near two-week low below 3,000 yen per gram.
An oath-taking ceremony to include some new ministers in Sindh Cabinet will be held at Governor's House here on March 18 at 1.30 pm. It was officially stated here on Wednesday.
US Secretary of State Colin Powell arrived here on Wednesday to hold talks with Pakistani leaders on wide range of subjects including Pak-US relations, peace initiatives between Pakistan and India and nuclear proliferation.
COMEX gold rose Tuesday, sought as a safe-haven since the Madrid train bombings with its advantage over the dollar reinforced after the close, when the Federal Reserve refrained from tightening monetary policy.
US Secretary of State Colin Powell arrived here on Wednesday to hold talks with Pakistani leaders on wide range of subjects including Pak-US relations, peace initiatives between Pakistan and India and nuclear proliferation.
Malaysian tin extended its winning streak for a sixth straight day on Wednesday, rising another $110 to edge closer to the psychological barrier of $7,500 a tonne.
Oil prices held just below one-year highs on Wednesday, underpinned by renewed global security worries after the Madrid bombings and expectations data will show another drop in already low US gasoline supplies.
CSCE raw sugar futures settled on Tuesday at a fresh seven-month high on persistent speculative fund buying, which appears poised to shove the market higher this week, analysts said.
The visiting US Business Council mission on Wednesday said that US travel advisory for Pakistan was not in line with the situation on ground and it needed thorough study by the State Department for softening it, if its lifting is not possible.
The Russian government may see the necessity of introducing additional grain export curbs as shipments continue in spite of a 25 euro per tonne duty set on wheat and rye from the middle of January to May.
The visiting US Business Council mission on Wednesday said that US travel advisory for Pakistan was not in line with the situation on ground and it needed thorough study by the State Department for softening it, if its lifting is not possible.
China has begun shipping wheat cargoes from Canada, Australia and the United States, as the country grapples with dwindling harvests and stocks, traders said on Wednesday.
Chicago Board of Trade soyabeans set a 15-1/2-year top and meal a near 7-year high on Tuesday on worries about South American crop losses amid strong global demand and tight US supplies, brokers said.
Chicago Board of Trade rough rice futures ended higher on Tuesday on speculative buying of old-crop May and light commercial buying of new-crop contracts, traders said.
Tokyo rubber futures succumbed to profit-taking on Wednesday, losing ground for the second day in a row since hitting their highest level in almost eight years.
Malaysian crude palm oil (CPO) futures ended higher on Wednesday on return of technical support after two straight days of selling and news of an Egyptian tender.
Bullion output in South Africa, the world's biggest gold producer, is due to extend its long-term decline at current prices, tumbling 15 percent by 2007, a government expert said on Wednesday.
A sudden jump in global grain demand thanks to Iraq and Asia will eat into already tight world stocks and keep prices on the boil, analysts said on Wednesday.
US oil prices roared to fresh one-year highs above $38 a barrel on Wednesday as a drop in already low gasoline inventories sharpened the threat of a supply crunch that could hurt economic growth.
US oil prices roared to fresh one-year highs above $38 a barrel on Wednesday as a drop in already low gasoline inventories sharpened the threat of a supply crunch that could hurt economic growth.
London cocoa prices weakened on Wednesday in a thin market pressured under speculative selling and with weaker CSCE futures eroding the upward momentum from the previous session, dealers said.
London coffee prices closed lower on Wednesday as the market gave away gains accumulated in the previous session, when it hit a one-month continuation high.
London sugar futures closed down on Wednesday as funds rolled their positions forward from the May to the August contract against a backdrop of profit taking and some long liquidation.
NYCE cotton futures finished slightly higher Wednesday as modest speculative buying gave fibre contracts a boost, and analysts said the market appeared poised to move up in the days ahead.
Active borrowing for cash copper to April on the London Metal Exchange (LME) fired up the benchmark cash/threes spread on Wednesday, with backwardation increasing to $115 a tonne, up from Tuesday's $80, the widest for nearly seven years.
Gold was stable above $400 an ounce on Wednesday, with the market poised to gain further despite a weakening euro against the dollar that would normally dull the metal's allure to European investors.
London Metal Exchange (LME) tin closed just below a fresh 14-year set earlier in the day on fund interest in the metal drove prices higher, traders said on Wednesday.
CSCE cocoa futures closed lower Wednesday as a four-day run of speculative short-covering ended and producer selling resumed, largely ignoring an estimate showing a global supply deficit, brokers said.
CSCE raw sugar futures ended softer Wednesday on late sales by small speculators, although the market is seen grinding higher on fund buying which has propelled the market to a 7-month high, analysts said.
Chicago Board of Trade wheat futures rallied to 2-1/2 week highs early on Wednesday on aggressive fund buying amid Egypt's purchase of 120,000 tonnes of US wheat and a World Food Program award of wheat to Iraq, traders said.
Chicago Board of Trade soyabean futures were mixed on Wednesday after rallying early to a fresh 15-1/2-year top, with nearby contracts up on commercial and speculative buying, brokers said.
COMEX copper prices edged lower but held inside Tuesday's trading range in quiet business Wednesday morning as overnight Far Eastern selling was countered by trade buying, dealers said.
COMEX gold held above $400 an ounce Wednesday morning, but activity was muted because its appeal as a portfolio hedge against global security worries was partly neutralised by a firmer dollar.
Britain urgently needs up to 140,000 extra new homes being built each year if housing supply is to match demand, a Treasury-sponsored report said on Wednesday.
Britain's Chancellor of the Exchequer Gordon Brown slammed the brakes on public spending growth on Wednesday but said that rather than crimping frontline services, one in 10 bureaucrats would have to go.
China scoffed at US accusations it was rigging its $30 billion chip market against American imports, which could result in the first complaint lodged with the WTO against the world's sixth-largest economy.
The United Nations World Food Programme has awarded 270,000 tonnes of US and Argentine hard milling wheat for Iraq after issuing an international tender for 450,000 tonnes, a grain market source said on Wednesday.
Unemployment in Britain fell sharply again to fresh record lows in the three months to January but the re-emergence of big City bonuses pushed earnings growth to the highest in over two years.
FedEx Corp, the world's leading air-express group, on Wednesday reported a better-than-expected increase in quarterly earnings, helped by cost savings and jumps in overseas and trucking shipments.
FedEx Corp, the world's leading air-express group, on Wednesday reported a better-than-expected increase in quarterly earnings, helped by cost savings and jumps in overseas and trucking shipments.
Federal Reserve Chairman Alan Greenspan said on Wednesday the US banking system weathered the 2001 recession well, and was in good shape to help finance the economic recovery.
Anti-globalisation protesters pelted World Bank President James Wolfensohn with paint on Wednesday after a ceremony marking Slovenia's graduation from World Bank borrower to donor.
Iran's top arbitration body has approved a $5 billion withdrawal from the country's rainy-day oil fund, ending a heated political tussle over the issue, the official IRNA news agency reported on Wednesday.
Euro zone inflation hit its lowest rate since 1999 in February while industrial output unexpectedly fell in January, according to data that spurred concern about the pace of economic recovery.
France's Vivendi Universal posted a worse-than-expected 2003 net loss on Wednesday but turned an operating profit as the media and communications firm slowly emerges from more than two years of turmoil.
France's Vivendi Universal posted a worse-than-expected 2003 net loss on Wednesday but turned an operating profit as the media and communications firm slowly emerges from more than two years of turmoil.
Train and plane maker Bombardier Inc will cut one fifth of its rail workers and close seven European plants in a sweeping restructuring of a type rarely seen in Europe's job-conscious railcar making sector.