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Print - 2004-04-08
EPB drafts EMDF Act to boost exports

EPB drafts EMDF Act to boost exports

The Export Promotion Bureau (EPB) has prepared a draft of the Export Market Development Fund (EMDF) Act to regulate measures designed to boost the country's exports.
Published 08 Apr, 2004 12:00am
EPB drafts EMDF Act to boost exports

EPB drafts EMDF Act to boost exports

The Export Promotion Bureau (EPB) has prepared a draft of the Export Market Development Fund (EMDF) Act to regulate measures designed to boost the country's exports.
Published 08 Apr, 2004 12:00am
South East Asia sees stronger economic growth ahead

South East Asia sees stronger economic growth ahead

The economic recovery in Southeast Asia is expected to gather momentum with broad-based growth of nearly six percent likely this year, the region's finance ministers said on Wednesday.
Published 08 Apr, 2004 12:00am
Incentive package for pesticides industry likely

Incentive package for pesticides industry likely

The government is likely to announce an incentive package in the budget for the year 2004-05 for the development of indigenous formulation and manufacturing of pesticides in a bid to enhance agricultural productivity.
Published 08 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
South Korea data shows economy on faster track

South Korea data shows economy on faster track

South Korea's economy appears to be on a faster track than expected because the rising global economy bought more of its goods and helped big foreign companies pledge more investment, government data showed on Wednesday.
Published 08 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Suspected Taleban commander arrested

Suspected Taleban commander arrested

A suspected top Taleban commander has been arrested in an affluent Kabul neighbourhood by Afghan police and international peacekeepers, a senior official told AFP Wednesday.
Published 08 Apr, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Iran to begin work on heavy water reactor

Iran to begin work on heavy water reactor

Iran is to begin work in June on constructing a heavy water reactor which could eventually be used as part of a fuel cycle to produce bomb-grade plutonium, diplomats said in Vienna Wednesday.
Published 08 Apr, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Koizumi vows to keep visiting shrine

Koizumi vows to keep visiting shrine

A Japanese court ruled on Wednesday that Prime Minister Junichiro Koizumi had violated the constitution by visiting a shrine honouring Japan's military war dead, a landmark ruling on his annual pilgrimages that have angered China and other Asian neighbour
Published 08 Apr, 2004 12:00am
Arab League urges immediate UN intervention in Iraq

Arab League urges immediate UN intervention in Iraq

The Arab League on Wednesday urged the United Nations to intervene immediately to stop the fighting that has raged between US-led coalition troops and Iraqis in many cities over the past four days.
Published 08 Apr, 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 Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Nato chief urges Russia to put aside enlargement row

Nato chief urges Russia to put aside enlargement row

Nato Secretary General Jaap de Hoop Scheffer urged Russia to set aside concerns about the US-led alliance's expansion and concentrate on fighting global threats in an interview published Wednesday.
Published 08 Apr, 2004 12:00am
Bangladesh extends gas contract for Tullow

Bangladesh extends gas contract for Tullow

Bangladesh said on Wednesday it would extend for two years Irish company Tullow Oil Plc's production sharing contract for exploring natural gas in the country.
Published 08 Apr, 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 (April 07, 2004).
Published 08 Apr, 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 (April 07, 2004).
Published 08 Apr, 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 (April 07, 2004).
Published 08 Apr, 2004 12:00am
ISE equities post handsome gains

ISE equities post handsome gains

Equities scored handsome gains under the lead of hot favourites at the Islamabad Stock Exchange (ISE) on Wednesday where bulls continued to stay in the driving seat amid increase in index.
Published 08 Apr, 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 08 Apr, 2004 12:00am
ISE equities post handsome gains

ISE equities post handsome gains

Equities scored handsome gains under the lead of hot favourites at the Islamabad Stock Exchange (ISE) on Wednesday where bulls continued to stay in the driving seat amid increase in index.
Published 08 Apr, 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 08 Apr, 2004 12:00am
Lahore stocks extend gains

Lahore stocks extend gains

Share values extended the overnight gains on Lahore Stock Exchange on Wednesday as investors went for buying in their favourite scrips wholeheartedly, but last-minute pressure forced the index to end with a clamped gain.
Published 08 Apr, 2004 12:00am
Lahore stocks extend gains

Lahore stocks extend gains

Share values extended the overnight gains on Lahore Stock Exchange on Wednesday as investors went for buying in their favourite scrips wholeheartedly, but last-minute pressure forced the index to end with a clamped gain.
Published 08 Apr, 2004 12:00am
Singapore bunker prices rise

Singapore bunker prices rise

Singapore bunker prices rose on Wednesday as tight supplies and an overnight rise in benchmark crude oil values gave support amid slow trading.
Published 08 Apr, 2004 12:00am
KSE index crosses 5300 level

KSE index crosses 5300 level

The stock market for the third consecutive session on Wednesday showed appreciation and entered the 5300 points zone and volume recorded was third highest in the history of Karachi Stock Exchange.
Published 08 Apr, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 82,818 tonnes of cargo including 73,504 tonnes import and 9,314 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday.
Published 08 Apr, 2004 12:00am
KSE index crosses 5300 level

KSE index crosses 5300 level

The stock market for the third consecutive session on Wednesday showed appreciation and entered the 5300 points zone and volume recorded was third highest in the history of Karachi Stock Exchange.
Published 08 Apr, 2004 12:00am
Vietnam inks new rice deals for Africa

Vietnam inks new rice deals for Africa

Foreign traders said they had signed two contracts with Vietnam in the past week for a combined volume of 20,000 tonnes of rice for unspecified destinations in Africa, suggesting Vietnam's tight supplies may have eased.
Published 08 Apr, 2004 12:00am
EoIs received for 51 percent Saadi Cement stake

EoIs received for 51 percent Saadi Cement stake

Several companies have shown interest in buying 51 percent stake in Saadi Cement Ltd to help the company to run commercially, said sources close to capital market.
Published 08 Apr, 2004 12:00am
Sri Lankan tea prices mixed

Sri Lankan tea prices mixed

Top-priced Sri Lankan teas fell at the latest auction on Wednesday while those at the bottom end of the market firmed, leaving the sales average unchanged in a market brokers said was unaffected by last week's election.
Published 08 Apr, 2004 12:00am
EoIs received for 51 percent Saadi Cement stake

EoIs received for 51 percent Saadi Cement stake

Several companies have shown interest in buying 51 percent stake in Saadi Cement Ltd to help the company to run commercially, said sources close to capital market.
Published 08 Apr, 2004 12:00am
EoIs received for 51 percent Saadi Cement stake

EoIs received for 51 percent Saadi Cement stake

Several companies have shown interest in buying 51 percent stake in Saadi Cement Ltd to help the company to run commercially, said sources close to capital market.
Published 08 Apr, 2004 12:00am
Egypt buys palm oil and palm stearin

Egypt buys palm oil and palm stearin

Egypt's state Holding Company for Food Industries (HCFI) said on Wednesday it had bought 15,000 tonnes of palm oil and 7,500 tonnes of palm stearin from trading house Willmar for arrival in May.
Published 08 Apr, 2004 12:00am
Indonesia seeks white sugar

Indonesia seeks white sugar

Indonesian state trading firm PT Rajawali Nusantara Indonesia (RNI) is to hold a tender on Wednesday at 0600 GMT to buy 35,000 tonnes of white sugar for April delivery, an official said.
Published 08 Apr, 2004 12:00am
FOB Gulf corn, soyabean steady

FOB Gulf corn, soyabean steady

US Gulf FOB corn and soyabean basis values were steady on Tuesday, with fresh export sales supporting corn while soyabeans lacked fresh business.
Published 08 Apr, 2004 12:00am
National Assembly passes NSC Bill amid rumpus

National Assembly passes NSC Bill amid rumpus

Amid opposition boycott and chanting of 'no, no', and 'shame, shame', the National Assembly on Wednesday passed the National Security Council Bill, 2004.
Published 08 Apr, 2004 12:00am
Iberian wheat firm, barley slips in quiet market

Iberian wheat firm, barley slips in quiet market

Iberian wheat prices were firm this week on worries about dwindling stocks but barley was pushed down by cheap French supply in a market slowing ahead of Easter holidays, dealers said.
Published 08 Apr, 2004 12:00am
National Assembly passes NSC Bill amid rumpus

National Assembly passes NSC Bill amid rumpus

Amid opposition boycott and chanting of 'no, no', and 'shame, shame', the National Assembly on Wednesday passed the National Security Council Bill, 2004.
Published 08 Apr, 2004 12:00am
CBOT wheat ends up on late speculative buying

CBOT wheat ends up on late speculative buying

Late speculative buying led by FIMAT Futures purchase of 700 lots of May boosted Chicago Board of Trade wheat futures to a higher close on Tuesday, traders said.
Published 08 Apr, 2004 12:00am
40 killed in US bombing on Iraqi mosque

40 killed in US bombing on Iraqi mosque

US troops, battling to crush a deadly two-pronged insurgency and stop Iraq sliding into chaos, bombed a mosque in the hotspot city of Fallujah on Wednesday, killing up to 40 Sunnis hiding inside.
Published 08 Apr, 2004 12:00am
Oil cake market rates

Oil cake market rates

The May vaida opened down 90 paisa to Rs 452, and highest was seen Rs 1.20 up at Rs 453.20. Later in depressed conditions it lost and was quoted lowest at Rs 451.20 and closing was marked at Rs 452.40.
Published 08 Apr, 2004 12:00am
40 killed in US bombing on Iraqi mosque

40 killed in US bombing on Iraqi mosque

US troops, battling to crush a deadly two-pronged insurgency and stop Iraq sliding into chaos, bombed a mosque in the hotspot city of Fallujah on Wednesday, killing up to 40 Sunnis hiding inside.
Published 08 Apr, 2004 12:00am
No trading reported on cotton market

No trading reported on cotton market

The trading on cotton market during normal working hours was nil as the world prices were persistently showing softening trend, relevant market sources said on Wednesday.
Published 08 Apr, 2004 12:00am
Sugar up on grain market

Sugar up on grain market

A few changes were seen on the grain and seed wholesale markets, amid modest business on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Senate summoned

Senate summoned

President General Pervez Musharraf has summoned the session of Senate on Friday (April 9) at 10:00 am at the Parliament House.
Published 08 Apr, 2004 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

Raw rubber, jute goods and some kirana item fluctuated on the Jodia Bazar on Wednesday (April 07, 2004).
Published 08 Apr, 2004 12:00am
Shahbaz allowed to return home

Shahbaz allowed to return home

The Supreme Court on Wednesday dismissed the two petitions of PML-N leader Shahbaz Sharif, seeking permission to return home, with the observation that he "may come back from abroad, subject to the law of the country".
Published 08 Apr, 2004 12:00am
New York cocoa lower

New York cocoa lower

Cocoa futures in New York finished with slight losses on Tuesday, rebounding off their session lows on local short-covering and industry buying, traders said.
Published 08 Apr, 2004 12:00am
Shahbaz allowed to return home

Shahbaz allowed to return home

The Supreme Court on Wednesday dismissed the two petitions of PML-N leader Shahbaz Sharif, seeking permission to return home, with the observation that he "may come back from abroad, subject to the law of the country".
Published 08 Apr, 2004 12:00am
New York coffee gains

New York coffee gains

CSCE coffee futures finished with healthy gains on Tuesday, after hanging in negative territory for much of the session, but traders said funds came in and grabbed coffee at the lows for a late rally.
Published 08 Apr, 2004 12:00am
Shanghai copper falls, pressured by arrivals

Shanghai copper falls, pressured by arrivals

Shanghai copper closed down on Wednesday, defying an overnight rise on the London Metal Exchange (LME), as prices came under pressure from increased copper stocks due to arrive later this month, traders said.
Published 08 Apr, 2004 12:00am
Company set up to make Textile City a reality

Company set up to make Textile City a reality

The government has formed Pakistan Textile City Limited (PTCL) and got it listed with Securities and Exchange Commission of Pakistan (SECP) as a limited company to make its textile cities plan a reality before the end of the current fiscal year.
Published 08 Apr, 2004 12:00am
Comex copper up moderately

Comex copper up moderately

Comex copper prices rose moderately on Tuesday, boosted by trade buying, short-covering by small speculators after hefty losses in the prior session, and a firmer euro, traders said.
Published 08 Apr, 2004 12:00am
Company set up to make Textile City a reality

Company set up to make Textile City a reality

The government has formed Pakistan Textile City Limited (PTCL) and got it listed with Securities and Exchange Commission of Pakistan (SECP) as a limited company to make its textile cities plan a reality before the end of the current fiscal year.
Published 08 Apr, 2004 12:00am
Tokyo platinum rebounds

Tokyo platinum rebounds

Tokyo platinum futures rebounded on Wednesday as the yen's dip against the dollar this week drew buyers to the yen-based precious metal, while palladium surged to its highest level since November 2002.
Published 08 Apr, 2004 12:00am
New York gold rebounds as dollar backs off

New York gold rebounds as dollar backs off

Comex gold bounced from two-week lows to end higher on Tuesday, helped by a weaker dollar and Asian physical buying, and by traders' reluctance to keep selling the safe-haven metal before on Friday's market holiday.
Published 08 Apr, 2004 12:00am
Malaysian tin rebounds

Malaysian tin rebounds

Malaysia tin prices rebounded to end $50 higher at $9,330 a tonne on Wednesday, keeping the overall upward trends intact.
Published 08 Apr, 2004 12:00am
Oil sideways as market braces for US stock build

Oil sideways as market braces for US stock build

Oil prices drifted sideways on Wednesday ahead of an expected build in US crude and gasoline stocks that could soothe summer supply concerns for the world's biggest energy consumer.
Published 08 Apr, 2004 12:00am
Australia cotton needs fibre quality gains

Australia cotton needs fibre quality gains

A survey of international and Australian cotton spinning mills showed that fibre quality of Australian cotton needed to improve to meet international requirements, leading industry bodies said on Wednesday.
Published 08 Apr, 2004 12:00am
CBOT rice falls on speculative buying

CBOT rice falls on speculative buying

Chicago Board of Trade rice futures ended weaker on Tuesday as speculative buying weighed amid light volume, traders said.
Published 08 Apr, 2004 12:00am
Australia wheat sales to Egypt running hot

Australia wheat sales to Egypt running hot

Australian wheat exports for 2004 had been boosted by near-record sales to Egypt, a longstanding customer and one of the biggest wheat importers in the world, AWB Ltd said on Wednesday.
Published 08 Apr, 2004 12:00am
CSCE sugar firm on modest buying

CSCE sugar firm on modest buying

CSCE raw sugar futures closed firmer on Tuesday on modest buying by speculative funds and switch activity as investors rolled positions out of the May contract and into later months, brokers said.
Published 08 Apr, 2004 12:00am
India grains sales grounded by lack of government policy

India grains sales grounded by lack of government policy

India, despite reaping a bumper grains crop, is unlikely to resume exports soon in the absence of a government policy enabling private players to begin wheat and rice sales, traders said on Wednesday.
Published 08 Apr, 2004 12:00am
Soya complex easier on profit-taking

Soya complex easier on profit-taking

Soyabean futures at the Chicago Board of Trade closed lower on Tuesday as speculators continued to take profits after on Monday's key technical reversal, traders said.
Published 08 Apr, 2004 12:00am
Kazakh grain exports fall

Kazakh grain exports fall

Kazakhstan's grain exports fell to 350,300 tonnes in March from 368,600 tonnes in February, the agriculture ministry said on Wednesday.
Published 08 Apr, 2004 12:00am
Euro cocoa grinds first quarter of 2004 to rise up to seven percent

Euro cocoa grinds first quarter of 2004 to rise up to seven percent

The use of cocoa as measured through bean grindings should have risen by up to seven percent in the first quarter of 2004, mainly due to its low level in the first three months of 2003 and more capacity, traders and analysts said on Wednesday.
Published 08 Apr, 2004 12:00am
London coffee up on speculative pressure

London coffee up on speculative pressure

London coffee prices ended up to $3 a tonne higher on Wednesday, although the absence of firm origin and speculative pressure left prices in a tight range, dealers said.
Published 08 Apr, 2004 12:00am
Selling US wheat to Iraq faces hurdles

Selling US wheat to Iraq faces hurdles

Cheers that greeted Iraq's first independent attempt in years to buy about $150 million worth of wheat for making bread are turning to disappointment over payment terms, US exporters and analysts said.
Published 08 Apr, 2004 12:00am
Oil rockets after US inventories dwindle

Oil rockets after US inventories dwindle

Oil prices raced nearly four percent higher on Wednesday as a fall in US crude and gasoline inventories re-ignited summer supply concerns in the world's biggest energy consumer.
Published 08 Apr, 2004 12:00am
London sugar sharply up

London sugar sharply up

Strong trade and speculative buying interest and a firmer New York market helped London sugar futures score hefty gains on Wednesday after a day that the prices make a clean break from recent territory, dealers said.
Published 08 Apr, 2004 12:00am