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Print - 2004-05-01
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Fiat plants, except Melfi, back to normal

Fiat plants, except Melfi, back to normal

Fiat said all but one of its Italian car plants resumed normal production on Friday as some workers remained on strike at the southern Melfi factory for a 12th day.
Published 01 May, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Pakistan a key partner against terror: US

Pakistan a key partner against terror: US

The United States called Pakistan one of its most important partners in the war on terrorism in a report that praised recent efforts to crack down on Islamic militants near the Afghan frontier.
Published 01 May, 2004 12:00am
Pakistan a key partner against terror: US

Pakistan a key partner against terror: US

The United States called Pakistan one of its most important partners in the war on terrorism in a report that praised recent efforts to crack down on Islamic militants near the Afghan frontier.
Published 01 May, 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 Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Data warehouse to ensure hassle-free refunds: Yousaf

Data warehouse to ensure hassle-free refunds: Yousaf

A Central Data Warehouse is being established in Central Board of Revenue (CBR) to monitor all stages from filing of returns payment of tax, verification, tallying and refund of sales tax to cut out delays in refund to exporters and to introduce hassle fr
Published 01 May, 2004 12:00am
KSE to remain closed on May 3

KSE to remain closed on May 3

The Karachi Stock Exchange will remain closed on Monday, May 3, 2004, on account of Eid Milad-un-Nabi (SAW), 12th Rabi-ul-Awal.-PR
Published 01 May, 2004 12:00am
Summit warns US to work for dialogue, not domination

Summit warns US to work for dialogue, not domination

More than 40 nations wrapped up an economic summit in the Polish capital on Friday, to the sound of a warning to the United States to work for partnership rather than domination in its relations with the expanding European Union.
Published 01 May, 2004 12:00am
Summit warns US to work for dialogue, not domination

Summit warns US to work for dialogue, not domination

More than 40 nations wrapped up an economic summit in the Polish capital on Friday, to the sound of a warning to the United States to work for partnership rather than domination in its relations with the expanding European Union.
Published 01 May, 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 Friday (April 30, 2004).
Published 01 May, 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 Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Prime Minister asked to intervene to resolve wheat crisis

Prime Minister asked to intervene to resolve wheat crisis

After holding a series of meetings, the Federal Ministry of Food and Agriculture is reported to have approached the Prime Minister to intervene and take some revolutionary steps to overcome the wheat crises that have gripped the entire nation all over the
Published 01 May, 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 Friday (April 30, 2004).
Published 01 May, 2004 12:00am
Prime Minister asked to intervene to resolve wheat crisis

Prime Minister asked to intervene to resolve wheat crisis

After holding a series of meetings, the Federal Ministry of Food and Agriculture is reported to have approached the Prime Minister to intervene and take some revolutionary steps to overcome the wheat crises that have gripped the entire nation all over the
Published 01 May, 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 01 May, 2004 12:00am
Bulls return in driving seat on ISE

Bulls return in driving seat on ISE

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where equities scored handsome gains under the lead of hot favourite amid increase in index.
Published 01 May, 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 01 May, 2004 12:00am
Bulls return in driving seat on ISE

Bulls return in driving seat on ISE

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where equities scored handsome gains under the lead of hot favourite amid increase in index.
Published 01 May, 2004 12:00am
Wheat talks inconclusive to continue on May 1

Wheat talks inconclusive to continue on May 1

The inter-provincial meeting on wheat crisis on Friday ended up here without any progress when Punjab representative Iqbal remained hard on stated position of his province that ban on wheat movement is the only way out for the provincial government to mee
Published 01 May, 2004 12:00am
US Midwest corn firm, soya steady

US Midwest corn firm, soya steady

US Midwest corn basis bids were firmer on Friday as farmers remain preoccupied on field work and not selling corn, while soyabean bids were mostly steady after strengthening the day before, dealers said.
Published 01 May, 2004 12:00am
Wheat talks inconclusive to continue on May 1

Wheat talks inconclusive to continue on May 1

The inter-provincial meeting on wheat crisis on Friday ended up here without any progress when Punjab representative Iqbal remained hard on stated position of his province that ban on wheat movement is the only way out for the provincial government to mee
Published 01 May, 2004 12:00am
FOB Gulf corn steady, soyabean firm

FOB Gulf corn steady, soyabean firm

US FOB Gulf corn basis offers were mostly steady on Thursday, supported by export demand, while soybeans were firm, dealers said.
Published 01 May, 2004 12:00am
Morocco to hike import duties on cereals soon

Morocco to hike import duties on cereals soon

Morocco said on Friday it would hike customs duties on cereal imports soon to let farmers benefit from a second straight bumper harvest, which is expected to exceed last year's in both quality and quantity.
Published 01 May, 2004 12:00am
Chinese indium producer sees lower output

Chinese indium producer sees lower output

The output of key Chinese indium producer Liuzhou China Tin is expected to fall to 30 tonnes or less this year due to a shortage of concentrates stemming from a series of mine shutdowns over the past few years.
Published 01 May, 2004 12:00am
PSF price raised

PSF price raised

The local manufacturers of polyester staple fibre (PSF) have increased the price by one rupee per kilogram. The new prices, to be effective from Saturday (May 1), will be Rs 75 per kilogram instead of Rs 74 per kilogram.
Published 01 May, 2004 12:00am
Chinese iron ore imports draw breath on bank curbs

Chinese iron ore imports draw breath on bank curbs

China's iron ore imports remain on track to increase around 30 percent this year, but the country's latest credit curbs will put the brakes on new purchases of the raw material, suppliers said on Friday.
Published 01 May, 2004 12:00am
PSF price raised

PSF price raised

The local manufacturers of polyester staple fibre (PSF) have increased the price by one rupee per kilogram. The new prices, to be effective from Saturday (May 1), will be Rs 75 per kilogram instead of Rs 74 per kilogram.
Published 01 May, 2004 12:00am
Russian weekly grain market report

Russian weekly grain market report

The decline on the Russian grain market has slowed, possibly due to the expiry from May 1 of the export tariff on wheat and rye and to the approaching end of grain intervention sales, traders said.
Published 01 May, 2004 12:00am
POL prices increased

POL prices increased

The Oil Companies Advisory Committee (OCAC) and the oil marketing companies increased the petroleum products prices by Re 1.00 to 1.55 per litre effective from Saturday, May 1.
Published 01 May, 2004 12:00am
POL prices increased

POL prices increased

The Oil Companies Advisory Committee (OCAC) and the oil marketing companies increased the petroleum products prices by Re 1.00 to 1.55 per litre effective from Saturday, May 1.
Published 01 May, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 118,109 tonnes of cargo including 83,267 tonnes import and 34,842 tonnes export cargo during last 24 hours ending at 0700 hours on Friday.
Published 01 May, 2004 12:00am
LSE index up 71.88 points

LSE index up 71.88 points

Bulls went berserk on the Lahore Stock Exchange (LSE) on week's last trading day following an aggressive buying from big players, placing the index up by 71.88 points.
Published 01 May, 2004 12:00am
CBOT wheat futures higher

CBOT wheat futures higher

Wheat futures at the Chicago Board of Trade closed sharply higher on Thursday on bullish export news and on a weak dollar, which makes wheat cheaper for importers buying it in other currencies, traders said.
Published 01 May, 2004 12:00am
LSE index up 71.88 points

LSE index up 71.88 points

Bulls went berserk on the Lahore Stock Exchange (LSE) on week's last trading day following an aggressive buying from big players, placing the index up by 71.88 points.
Published 01 May, 2004 12:00am
Indian Indal to boost alumina and metal capacity

Indian Indal to boost alumina and metal capacity

India's fourth-largest aluminium maker, Indal, plans to sharply raise its refining and smelting capacity to boost its share in domestic and global markets, a company official said on Thursday.
Published 01 May, 2004 12:00am
Bank, telecom results pave way for bulls

Bank, telecom results pave way for bulls

Strong support from financial institutions and better than expected results from National Bank of Pakistan and Pakistan Telecommunication Limited helped paved the way for bulls to strike back, helping the index to breach the 5400 level.
Published 01 May, 2004 12:00am
Soya demand wanes in China, worries over Brazil

Soya demand wanes in China, worries over Brazil

Soya demand has waned in China, the world's top importer of the oilseed, ahead of the May Day holidays as crushers struggle with large losses due to slack poultry demand in the wake of the bird flu outbreak this year.
Published 01 May, 2004 12:00am
Bank, telecom results pave way for bulls

Bank, telecom results pave way for bulls

Strong support from financial institutions and better than expected results from National Bank of Pakistan and Pakistan Telecommunication Limited helped paved the way for bulls to strike back, helping the index to breach the 5400 level.
Published 01 May, 2004 12:00am
Oil cake market rates

Oil cake market rates

The May vaida opened 60 paisa lower at Rs 469 and highest was marked higher by Re 1 to Rs 470. Later trading depressed and turned lowest at Rs 468.80 and closing was seen at the same amount.
Published 01 May, 2004 12:00am
Rs 393 billion tax collected in 10 months

Rs 393 billion tax collected in 10 months

The Central Board of Revenue (CBR) has collected Rs 393.1 billion during ten months of current fiscal year against Rs 352.1 billion in same period of last financial year, reflecting an increase of Rs 41 billion.
Published 01 May, 2004 12:00am
Cotton market remains dull

Cotton market remains dull

There was no deal on cotton market until end of office hours on Friday, said relevant sources.
Published 01 May, 2004 12:00am
Rs 393 billion tax collected in 10 months

Rs 393 billion tax collected in 10 months

The Central Board of Revenue (CBR) has collected Rs 393.1 billion during ten months of current fiscal year against Rs 352.1 billion in same period of last financial year, reflecting an increase of Rs 41 billion.
Published 01 May, 2004 12:00am
Rapeseed down on grain market

Rapeseed down on grain market

A few changes were seen on the seed and grain wholesale markets, amid slow business on Friday (April 30, 2004).
Published 01 May, 2004 12:00am
SBP contests ADB warning of banking crisis

SBP contests ADB warning of banking crisis

The Governor of State Bank, Dr Ishrat Hussain, has contested ADB's remarks that a banking crisis is imminent in Pakistan. This observation was contained in the 'Asian Development Outlook 2004' which apprehended banking crisis in India, Pakistan and Taiwan
Published 01 May, 2004 12:00am
SBP contests ADB warning of banking crisis

SBP contests ADB warning of banking crisis

The Governor of State Bank, Dr Ishrat Hussain, has contested ADB's remarks that a banking crisis is imminent in Pakistan. This observation was contained in the 'Asian Development Outlook 2004' which apprehended banking crisis in India, Pakistan and Taiwan
Published 01 May, 2004 12:00am
Tifa in jeopardy after IIPA report

Tifa in jeopardy after IIPA report

The Trade and Investment Framework Agreement (Tifa), signed between the United States and Pakistan on June 27, 2003, appears to be in jeopardy following the publication of the special 301 report on Pakistan by the US-based International Intellectual Prope
Published 01 May, 2004 12:00am
CSCE coffee ends with moderate losses

CSCE coffee ends with moderate losses

CSCE coffee futures closed with moderate losses on Thursday as sellers showed up late in the session, but with fundamentals and technical offering mixed signals traders said the current range should hold for the near term.
Published 01 May, 2004 12:00am
Tifa in jeopardy after IIPA report

Tifa in jeopardy after IIPA report

The Trade and Investment Framework Agreement (Tifa), signed between the United States and Pakistan on June 27, 2003, appears to be in jeopardy following the publication of the special 301 report on Pakistan by the US-based International Intellectual Prope
Published 01 May, 2004 12:00am
CSCE cocoa hits three-week high on fund short-covering

CSCE cocoa hits three-week high on fund short-covering

CSCE cocoa futures in New York eked out a slightly firmer close on Thursday as fund short-covering and speculative buying pushed prices to a 3-week peak before scale-up trade selling trimmed the gains, traders said.
Published 01 May, 2004 12:00am
Labour day on May 1

Labour day on May 1

Islam advocates the dignity of labour and government of Pakistan is determined to protecting the rights of labour community according to the teachings of Islam by celebrating May 1 as labour day in the country and taking dynamic steps for the welfare of w
Published 01 May, 2004 12:00am
US donates 50,000 tonnes HRW wheat to Georgia

US donates 50,000 tonnes HRW wheat to Georgia

The US Agriculture Department said on Thursday it would donate 50,000 tonnes of hard red winter wheat to the nation of Georgia, which is expected to harvest about 225,000 tonnes this year.
Published 01 May, 2004 12:00am
Labour day on May 1

Labour day on May 1

Islam advocates the dignity of labour and government of Pakistan is determined to protecting the rights of labour community according to the teachings of Islam by celebrating May 1 as labour day in the country and taking dynamic steps for the welfare of w
Published 01 May, 2004 12:00am
Comex copper higher on bargain hunting

Comex copper higher on bargain hunting

Comex copper ended near the day's highs on Thursday, boosted by bargain hunting after on Wednesday's sell-off dragged futures down about 5 percent to 2-1/2 month lows, traders said.
Published 01 May, 2004 12:00am
Parliament will complete its tenure: Jamali

Parliament will complete its tenure: Jamali

Prime Minister Zafarullah Khan Jamali said Friday that "a political-cum-democratic system is in place; is functioning well; and will continue, and the parliament will complete its tenure".
Published 01 May, 2004 12:00am
New York gold and silver set new low

New York gold and silver set new low

Comex gold fell to a seven-month low on Thursday but ended firmer on short-covering prompted by data showing the US economy grew a bit slower with more inflation than expected in the first quarter.
Published 01 May, 2004 12:00am
Parliament will complete its tenure: Jamali

Parliament will complete its tenure: Jamali

Prime Minister Zafarullah Khan Jamali said Friday that "a political-cum-democratic system is in place; is functioning well; and will continue, and the parliament will complete its tenure".
Published 01 May, 2004 12:00am
Tokyo precious metals tumble on China, rate jitters

Tokyo precious metals tumble on China, rate jitters

Tokyo precious metals futures tumbled on Friday as growing speculation over credit tightening in the United States and comments from China prompted massive liquidations by fund operators, traders said.
Published 01 May, 2004 12:00am
Gold firmer in Asia but outlook shaky

Gold firmer in Asia but outlook shaky

Gold was firmer in Asia on Friday as investors took advantage of current low prices to cover back positions but worries about a possible increase in US interest rates lingered, dealers said.
Published 01 May, 2004 12:00am
Shanghai copper rises before long break

Shanghai copper rises before long break

Shanghai copper rebounded on Friday ahead of a week-long Labour Day break, but the market remained on edge over expectations of further moves to cool over-investment, traders said.
Published 01 May, 2004 12:00am
Abizaid wants Iraq troops from Muslim nations

Abizaid wants Iraq troops from Muslim nations

The general in charge of US military operations in Iraq appealed to Pakistan, Morocco and Tunisia on Friday to send troops to join American-led forces in Iraq, saying "this needs to be less of an American occupation."
Published 01 May, 2004 12:00am
China to return ship of Brazilian soyabeans

China to return ship of Brazilian soyabeans

China will return a cargo of soyabeans imported from Brazil because it was treated with a harmful pesticide, a government official and traders said on Friday.
Published 01 May, 2004 12:00am
Abizaid wants Iraq troops from Muslim nations

Abizaid wants Iraq troops from Muslim nations

The general in charge of US military operations in Iraq appealed to Pakistan, Morocco and Tunisia on Friday to send troops to join American-led forces in Iraq, saying "this needs to be less of an American occupation."
Published 01 May, 2004 12:00am
New York sugar ends with healthy gains, still in range

New York sugar ends with healthy gains, still in range

CSCE raw sugar futures finished near the top of the range on Thursday, with some talk of physical buying supporting the downside, but large crops expected to keep a cap on the upside, traders said.
Published 01 May, 2004 12:00am
Bush to impose Syria sanctions soon

Bush to impose Syria sanctions soon

The White House said on Friday it would soon impose sanctions on Syria for supporting terrorism and failing to stop guerrillas from entering Iraq.
Published 01 May, 2004 12:00am
Bush to impose Syria sanctions soon

Bush to impose Syria sanctions soon

The White House said on Friday it would soon impose sanctions on Syria for supporting terrorism and failing to stop guerrillas from entering Iraq.
Published 01 May, 2004 12:00am
EU grains weather-dryness a concern in Germany

EU grains weather-dryness a concern in Germany

Concern is growing that lack of rain in some areas of Germany could damage grain plantings but the overall harvest outlook still remains good, analysts said.
Published 01 May, 2004 12:00am
BoI recommends incentives for 2004-05 budget

BoI recommends incentives for 2004-05 budget

The Board of Investment (BOI) has recommended incentive package to make next year fiscal budget 'investment growth oriented and investors friendly', which will help in attracting more foreign investment in oil and gas, power and telecommunication sectors.
Published 01 May, 2004 12:00am
CBOT rice futures set near six-year top

CBOT rice futures set near six-year top

Chicago Board of Trade rough rice futures ended higher on Thursday after setting a near six-year top and contract highs on speculative buying and talk of tightening US rice supplies, traders said.
Published 01 May, 2004 12:00am
BoI recommends incentives for 2004-05 budget

BoI recommends incentives for 2004-05 budget

The Board of Investment (BOI) has recommended incentive package to make next year fiscal budget 'investment growth oriented and investors friendly', which will help in attracting more foreign investment in oil and gas, power and telecommunication sectors.
Published 01 May, 2004 12:00am
Malaysian palm oil futures higher

Malaysian palm oil futures higher

Malaysian crude palm oil (CPO) futures were up in Friday's early trade after gains in rival Chicago soyaoil and friendly preliminary exports data for April, dealers said.
Published 01 May, 2004 12:00am
Pakistan and Thailand to discuss PTA possibility

Pakistan and Thailand to discuss PTA possibility

Economic experts from Pakistan and Thailand would meet soon to discuss the possibility of having a Preferential Tariff Arrangement between the two countries which may lead to a Free Trade Agreement (FTA).
Published 01 May, 2004 12:00am
New York cotton fractionally lower

New York cotton fractionally lower

The benchmark NYCE cotton contract ended fractionally lower Friday in quiet two-way trade as worries about slowing Chinese demand wore off.
Published 01 May, 2004 12:00am
Pakistan and Thailand to discuss PTA possibility

Pakistan and Thailand to discuss PTA possibility

Economic experts from Pakistan and Thailand would meet soon to discuss the possibility of having a Preferential Tariff Arrangement between the two countries which may lead to a Free Trade Agreement (FTA).
Published 01 May, 2004 12:00am
EU cuts grain mountain

EU cuts grain mountain

Tight cereal supplies have been a gift for the European Commission this year - allowing it to sell most of its intervention stocks and put an end to the much maligned grain mountains of the past, analysts say.
Published 01 May, 2004 12:00am
Two US marines, Iraqi police colonel killed

Two US marines, Iraqi police colonel killed

Two US marines were killed and six wounded in a suicide bomb attack on Friday near Camp Fallujah, the main military base outside the flash-point city of the same name, Brigadier General Mark Kimmitt told reporters here.
Published 01 May, 2004 12:00am
Oil off highs after US gasoline eases

Oil off highs after US gasoline eases

International oil prices ended off their highs on Friday, tempered by profit-taking on the high-flying US gasoline market where prices have been lifted by fears of a shortage in the peak summer demand period.
Published 01 May, 2004 12:00am
Two US marines, Iraqi police colonel killed

Two US marines, Iraqi police colonel killed

Two US marines were killed and six wounded in a suicide bomb attack on Friday near Camp Fallujah, the main military base outside the flash-point city of the same name, Brigadier General Mark Kimmitt told reporters here.
Published 01 May, 2004 12:00am
London cocoa edges up

London cocoa edges up

London cocoa prices closed higher on Friday on spread trading and modest industry interest, with prices moving in a narrow range and failing to break any significant levels, dealers said.
Published 01 May, 2004 12:00am
US hands Falluja to former Saddam general

US hands Falluja to former Saddam general

US Marines handed control in Falluja to a former general in Saddam Hussein's Republican Guard on Friday but new violence showed that a month of fighting in the besieged city was not over.
Published 01 May, 2004 12:00am