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Print - 2004-04-23
All set to hold bidding for KOML on May 4

All set to hold bidding for KOML on May 4

The Privatisation Commission is all set to hold an open bidding of Kohinoor Oil Mills Limited (KOML) for 60.5 percent shares on 'as is where is' basis, on May 4.
Published 23 Apr, 2004 12:00am
Supreme Court shuts workshops in residential areas

Supreme Court shuts workshops in residential areas

In a detailed judgement announced here on Thursday, the Supreme Court has confirmed the findings of subordinate courts as well as the Sindh High Court ordering the closure of industrial workshops in the vicinity of residential buildings, a school, church
Published 23 Apr, 2004 12:00am
Supreme Court shuts workshops in residential areas

Supreme Court shuts workshops in residential areas

In a detailed judgement announced here on Thursday, the Supreme Court has confirmed the findings of subordinate courts as well as the Sindh High Court ordering the closure of industrial workshops in the vicinity of residential buildings, a school, church
Published 23 Apr, 2004 12:00am
India's core sector rises 7.1 percent

India's core sector rises 7.1 percent

India's core sector grew 7.1 percent in March from an year earlier boosted by strong growth in the refining, electricity and coal sectors, a government statement said on Thursday.
Published 23 Apr, 2004 12:00am
Abu Dhabi eyes Volkswagen stake after leasing deal

Abu Dhabi eyes Volkswagen stake after leasing deal

Volkswagen may sell a 10 percent stake worth 1.6 billion euros to Abu Dhabi and gain a second strategic shareholder as Brussels turns up the heat on a law protecting Europe's largest carmaker from take-overs.
Published 23 Apr, 2004 12:00am
Fake persons claim Rs 3 billion as sales tax refund

Fake persons claim Rs 3 billion as sales tax refund

Some startling disclosures were made by the Member Sales Tax, Central Board of Revenue (CBR) Shahid Ahmed at the CBR sales tax co-ordination committee meeting on blacklisting, suspension of registration/enrolment of suspected persons and new registration
Published 23 Apr, 2004 12:00am
Fake persons claim Rs 3 billion as sales tax refund

Fake persons claim Rs 3 billion as sales tax refund

Some startling disclosures were made by the Member Sales Tax, Central Board of Revenue (CBR) Shahid Ahmed at the CBR sales tax co-ordination committee meeting on blacklisting, suspension of registration/enrolment of suspected persons and new registration
Published 23 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
Wapda willing to buy electricity from AEDB

Wapda willing to buy electricity from AEDB

The Water and Power Development Authority (Wapda) is ready to purchase the quantum of electricity generated by the Alternative Energy Development Board (AEDB) through solar and wind energy.
Published 23 Apr, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
Eight drown in Azad Kashmir

Eight drown in Azad Kashmir

Eight people including a three-year old boy drowned when their overloaded jeep plunged into a river in Azad Kashmir on Thursday, police said.
Published 23 Apr, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
'Garment City' to be set up: Jatoi

'Garment City' to be set up: Jatoi

Soon after the creation of the proposed textile city the government would set up a parallel 'Garment City' for further value addition of its textile products.
Published 23 Apr, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
Forecaster Zenith says world ad recovery underway

Forecaster Zenith says world ad recovery underway

A keenly awaited recovery in world advertising spending is now underway after a prolonged slump, as Europe starts to improve having lagged the other main markets, forecaster Zenith Optimedia said on Thursday.
Published 23 Apr, 2004 12:00am
SECP forms task force to conduct Takaful

SECP forms task force to conduct Takaful

The Securities and Exchange Commission of Pakistan (SEC) has constituted a four-member task force for formulation of rules and regulations for the conduct of Takaful (Islamic mode of insurance) business in Pakistan.
Published 23 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 Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
400 protestors held in Nepal

400 protestors held in Nepal

Around 400 anti-monarchy protestors were rounded up in Nepal's capital Thursday, police said, as King Gyanendra met with party leaders amid a crisis over his 2002 sacking of the elected government.
Published 23 Apr, 2004 12:00am
Afghan ban on female TV performers lifted

Afghan ban on female TV performers lifted

An Afghan province has lifted a ban on women performers on television and radio just days after imposing it, residents said on Thursday, following pressure by reformists in President Hamid Karzai's government.
Published 23 Apr, 2004 12:00am
Southeast Asian nations to combat deadly epidemics

Southeast Asian nations to combat deadly epidemics

Southeast Asian states Thursday adopted a common strategy to fight deadly epidemics such as Sars and bird flu, which have cost the region hundreds of lives and billions of dollars over the past two years.
Published 23 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 Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
Thousands feared dead in North Korea trains collision

Thousands feared dead in North Korea trains collision

Up to 3,000 people were killed or injured when two trains loaded with fuel collided and exploded at a North Korean station on Thursday, hours after leader Kim Jong-il had passed through, South Korea's YTN television said.
Published 23 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 Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
Thousands feared dead in North Korea trains collision

Thousands feared dead in North Korea trains collision

Up to 3,000 people were killed or injured when two trains loaded with fuel collided and exploded at a North Korean station on Thursday, hours after leader Kim Jong-il had passed through, South Korea's YTN television said.
Published 23 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 Thursday (April 22, 2004).
Published 23 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 23 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 23 Apr, 2004 12:00am
Blue chips lead Islamabad Stock Exchange rally

Blue chips lead Islamabad Stock Exchange rally

Bull snatched the floor from the bears at the Islamabad Stock Exchange (ISE) where fresh buying spree in hot favourite moved the entire ready-board in upward direction amid broad-based recovery.
Published 23 Apr, 2004 12:00am
Blue chips lead Islamabad Stock Exchange rally

Blue chips lead Islamabad Stock Exchange rally

Bull snatched the floor from the bears at the Islamabad Stock Exchange (ISE) where fresh buying spree in hot favourite moved the entire ready-board in upward direction amid broad-based recovery.
Published 23 Apr, 2004 12:00am
Brazilian cocoa arrivals up

Brazilian cocoa arrivals up

Brazil's 2003/04 (May-April) cocoa arrivals from Bahia, other states and countries rose 9 percent to 3.6 million 60-kg bags by April 18 from a year ago, Bahia Commercial Association said.
Published 23 Apr, 2004 12:00am
Hubco profit falls 8.6 percent

Hubco profit falls 8.6 percent

Hub Power Company''s profit in the nine months ended March 31 fell 8.6 percent to Rs 4.112 billion because of lower sales in the period.
Published 23 Apr, 2004 12:00am
Cuba buys US durum wheat for first time

Cuba buys US durum wheat for first time

Cuba bought 6,000 tonnes of US durum wheat during the week ended April 15, the first durum sale since reporting began in 1973, the US Agriculture Department said on Thursday.
Published 23 Apr, 2004 12:00am
Hubco profit falls 8.6 percent

Hubco profit falls 8.6 percent

Hub Power Company's profit in the nine months ended March 31 fell 8.6 percent to Rs 4.112 billion because of lower sales in the period.
Published 23 Apr, 2004 12:00am
High domestic demand halts Indian cotton exports

High domestic demand halts Indian cotton exports

India's cotton exports, which have surged this year, are likely to taper off and no new sales are expected in the current crop year because of robust domestic demand, traders said on Thursday.
Published 23 Apr, 2004 12:00am
Hubco profit falls 8.6 percent

Hubco profit falls 8.6 percent

Hub Power Company's profit in the nine months ended March 31 fell 8.6 percent to Rs 4.112 billion because of lower sales in the period.
Published 23 Apr, 2004 12:00am
CBOT wheat futures sharply lower

CBOT wheat futures sharply lower

Chicago Board of Trade wheat futures closed sharply lower Wednesday in a fund-led sell-off ignited by forecasts for good rains in the Plains and weakness in all US commodity markets, traders said.
Published 23 Apr, 2004 12:00am
Pakistan and Laos agree to enhance trade ties

Pakistan and Laos agree to enhance trade ties

Pakistan and Lao on Thursday agreed to enhance co-operation in economy, trade and business relations besides agreeing to have more high-level ministerial exchanges.
Published 23 Apr, 2004 12:00am
LSE index up 54.91 points

LSE index up 54.91 points

Share prices recovered on the Lahore Stock Exchange (LSE) after suffering heavy battering on Wednesday, as investors showed appetite for fresh buying in selective chips.
Published 23 Apr, 2004 12:00am
Jakarta destroys smuggled sugar

Jakarta destroys smuggled sugar

Hundreds of Indonesian sugarcane farmers gathered on Thursday to witness 3,450 tonnes of smuggled sugar being burned on an island near the capital city Jakarta on Thursday.
Published 23 Apr, 2004 12:00am
LSE index up 54.91 points

LSE index up 54.91 points

Share prices recovered on the Lahore Stock Exchange (LSE) after suffering heavy battering on Wednesday, as investors showed appetite for fresh buying in selective chips.
Published 23 Apr, 2004 12:00am
Singapore bunker fuel oil prices down

Singapore bunker fuel oil prices down

Singapore bunker fuel oil prices eased on Thursday as lower benchmark crude and oil products prices countered support from healthy demand.
Published 23 Apr, 2004 12:00am
Bulls stage comeback on KSE

Bulls stage comeback on KSE

Bulls entered the market in vengeance, and index recovered almost all the losses sustained on Wednesday's session as the financial institutions found price levels quite attractive to make capital gains.
Published 23 Apr, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 102,033 tonnes of cargo including 75,648 tonnes import and 26,385 tonnes export cargo during last 24 hours ending at 0700 hours on Thursday.
Published 23 Apr, 2004 12:00am
Bulls stage comeback on KSE

Bulls stage comeback on KSE

Bulls entered the market in vengeance, and index recovered almost all the losses sustained on Wednesday's session as the financial institutions found price levels quite attractive to make capital gains.
Published 23 Apr, 2004 12:00am
Thai rice prices higher

Thai rice prices higher

Thai rice prices are likely to rise in the next few days, boosted mainly by resurgent demand from Nigeria, traders said on Thursday.
Published 23 Apr, 2004 12:00am
World Bank hails Pakistan's economic performance

World Bank hails Pakistan's economic performance

The World Bank on Wednesday praised as "outstanding" the economic performance achieved by Pakistan, and was appreciative of exceeding the targets of growth and collection of revenues.
Published 23 Apr, 2004 12:00am
World Bank hails Pakistan's economic performance

World Bank hails Pakistan's economic performance

The World Bank on Wednesday praised as "outstanding" the economic performance achieved by Pakistan, and was appreciative of exceeding the targets of growth and collection of revenues.
Published 23 Apr, 2004 12:00am
Oil cake market rates

Oil cake market rates

The May vaida opened down at Rs 457.50 and it moved up 90 paisa to Rs 458.40. Later, trading depressed and it lost Rs 1.50 to be the lowest at Rs 456.90 and wound up higher at Rs 457.50.
Published 23 Apr, 2004 12:00am
Some movement seen on cotton market

Some movement seen on cotton market

Some movement was marked on the cotton market on Thursday as buyers lifted respectable quantity from both Sindh and Punjab as they found prices quite feasible, sources said.
Published 23 Apr, 2004 12:00am
36 killed in Fallujah fighting

36 killed in Fallujah fighting

A US Marine general warned on Thursday that insurgents in Fallujah had only days to turn in their weapons, complaining that what was handed over so far was a load of 'junk'.
Published 23 Apr, 2004 12:00am
Irri 9 down on grain market

Irri 9 down on grain market

Scattered changes were seen on the seed and grain wholesale markets on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
36 killed in Fallujah fighting

36 killed in Fallujah fighting

A US Marine general warned on Thursday that insurgents in Fallujah had only days to turn in their weapons, complaining that what was handed over so far was a load of 'junk'.
Published 23 Apr, 2004 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

Steady conditions obtained on the Jodia Bazar as most commodities traded there unchanged except some changes in kirana items on Thursday (April 22, 2004).
Published 23 Apr, 2004 12:00am
CSCE cocoa gains in New York

CSCE cocoa gains in New York

CSCE cocoa futures in New York finished with modest gains on Wednesday, as follow-through speculative selling gave way to short-covering and industry buying off the lows, traders said.
Published 23 Apr, 2004 12:00am
LHC postings and transfers

LHC postings and transfers

The Chief Justice of the Lahore High Court made transfers and postings among five judges of the lower judiciary.
Published 23 Apr, 2004 12:00am
CSCE coffee futures lower

CSCE coffee futures lower

CSCE coffee futures closed with sharp losses on Wednesday as many players sold their coffee positions a day before first notice day in the May contract, New York coffee brokers said.
Published 23 Apr, 2004 12:00am
Oracle delegation meets Musharraf

Oracle delegation meets Musharraf

A four-member delegation of a leading software company Oracle headed by Regional Director Keith Budge called on President General Pervez Musharraf at Aiwan-e-Sadr here on Thursday.
Published 23 Apr, 2004 12:00am
Australia waits for Iraqi wheat tender

Australia waits for Iraqi wheat tender

Australia confirmed on Thursday it has tendered to supply 200,000 tonnes of hard milling wheat to Iraq after sources said US exporters had decided not to tender because of conditions attached to the contract.
Published 23 Apr, 2004 12:00am
Four Pakistani brothers jailed in Sydney

Four Pakistani brothers jailed in Sydney

Four Pakistani brothers, who had emigrated to Australia, were jailed for between 10 and 22 years on Thursday for the gang rape of two teenaged girls in Sydney.
Published 23 Apr, 2004 12:00am
US industry seeks curbs on Brazilian soyameal imports

US industry seeks curbs on Brazilian soyameal imports

Soyabean meal shipped to the United States from countries suffering from a fast-spreading crop fungus should not be handled by port facilities that previously carried whole soyabeans, a US industry group has told the Bush administration.
Published 23 Apr, 2004 12:00am
EU ratifies third-generation agreement with Pakistan

EU ratifies third-generation agreement with Pakistan

The European Union Parliament has ratified by overwhelming majority Pak-EU co-operation agreement on partnership and development commonly known as the third-generation agreement.
Published 23 Apr, 2004 12:00am
Comex copper tumbles

Comex copper tumbles

Comex copper futures fell sharply on Wednesday as investment funds and speculators pulled out of copper and other metals when it seemed a strengthening dollar would undermine their holdings, traders said.
Published 23 Apr, 2004 12:00am
EU ratifies third-generation agreement with Pakistan

EU ratifies third-generation agreement with Pakistan

The European Union Parliament has ratified by overwhelming majority Pak-EU co-operation agreement on partnership and development commonly known as the third-generation agreement.
Published 23 Apr, 2004 12:00am
Tokyo platinum limit down, fund operators pull out

Tokyo platinum limit down, fund operators pull out

Tokyo platinum futures tumbled to a two-week low on Thursday on heavy liquidation by fund operators given the dollar's broad-based upturned amid increasing prospects of an interest rate rise in the United States.
Published 23 Apr, 2004 12:00am
OIC tells US to drop Israeli plan, bring UN into Iraq

OIC tells US to drop Israeli plan, bring UN into Iraq

The world's Muslim nations on Thursday urged the United States to drop its support for the latest Israeli peace plan and called for a new UN mandate on Iraq, describing the situation in the Middle East as "alarming".
Published 23 Apr, 2004 12:00am
New York precious metals down sharply, silver sold

New York precious metals down sharply, silver sold

New York precious metals fell heavily on Wednesday on speculative selling prompted by a rise in the dollar overnight, denting demand for dollar-priced metal overseas, traders and analysts said.
Published 23 Apr, 2004 12:00am
OIC tells US to drop Israeli plan, bring UN into Iraq

OIC tells US to drop Israeli plan, bring UN into Iraq

The world's Muslim nations on Thursday urged the United States to drop its support for the latest Israeli peace plan and called for a new UN mandate on Iraq, describing the situation in the Middle East as "alarming".
Published 23 Apr, 2004 12:00am
Asia gold ignores firm dollar, kilobits in demand

Asia gold ignores firm dollar, kilobits in demand

Gold defied a surging dollar and gained more than $1 an ounce in Asia on Thursday, aided by fresh physical demand as well as a technical correction, dealers said.
Published 23 Apr, 2004 12:00am
Rs 571.2 billion revenue target likely for 2004-05

Rs 571.2 billion revenue target likely for 2004-05

The revenue collection target for 2004-05 is likely to be Rs 571.2 billion. This would be Rs 61.2 billion higher than the original target of Rs 510 billion for the fiscal 2003-04.
Published 23 Apr, 2004 12:00am
Malaysian tin dips

Malaysian tin dips

Malaysian tin fell $260 a tonne on Thursday, weighed down by a sharp fall in the price of the metal in London overnight.
Published 23 Apr, 2004 12:00am
Rs 571.2 billion revenue target likely for 2004-05

Rs 571.2 billion revenue target likely for 2004-05

The revenue collection target for 2004-05 is likely to be Rs 571.2 billion. This would be Rs 61.2 billion higher than the original target of Rs 510 billion for the fiscal 2003-04.
Published 23 Apr, 2004 12:00am
Shanghai copper softens

Shanghai copper softens

Most Shanghai copper and aluminium fell by the three-percent daily limit shortly after the on Thursday, following sharp falls in the London Metal Exchange (LME) overnight.
Published 23 Apr, 2004 12:00am