News Archives for Print - 2004-05-07

Print - 2004-05-07

London coffee future ends lower

London coffee futures closed lower on Thursday on light speculative and origin selling and with most of the buyers undecided to bid at current prices, dealers said.

Published 07 May, 2004 12:00am

World oil prices set fresh 13-year highs

World oil prices set fresh 13-year highs on Thursday, within a whisker of $40 a barrel for US crude, stoked by worries about summer gasoline shortages in the United States.

Published 07 May, 2004 12:00am

World oil prices set fresh 13-year highs

World oil prices set fresh 13-year highs on Thursday, within a whisker of $40 a barrel for US crude, stoked by worries about summer gasoline shortages in the United States.

Published 07 May, 2004 12:00am

Colombia coffee output falls

Colombian coffee output fell to 738,000 60-kilogram bags in April, compared with 1.078 million bags in April 2003, Colombia's National Federation of Coffee Growers said on Thursday.

Published 07 May, 2004 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices (1600 GMT).

Published 07 May, 2004 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices (1600 GMT).

Published 07 May, 2004 12:00am

New York cotton extends gains

NYCE cotton futures settled at eight-day highs Thursday on trade and technical buying and a lack of selling in another light-volume session, dealers said.

Published 07 May, 2004 12:00am

Cargill plans to be major Brazil ethanol exporter

Cargill Inc, the US-based agriculture conglomerate, on Thursday said it plans to become a major exporter of Brazilian cane-based ethanol as world demand for the fuel and Brazil's sugarcane crop grow.

Published 07 May, 2004 12:00am

Gold falls as US data steadies dollar

Gold fell on Thursday afternoon in Europe after the latest US jobless claims data bolstered expectations of strong numbers in a key employment report on Friday and underlined expectations of an interest rate rise later this summer, dealers said.

Published 07 May, 2004 12:00am

LME batted from consumer buying to profit-taking

Base metals traded erratically in Thursday open-outcry trading on the London Metal Exchange (LME), bouncing between early consumer buying and then profit-taking, before ending relatively steady, traders said.

Published 07 May, 2004 12:00am

US MIDDAY: coffee down on all-around selling

CSCE coffee futures settled lower Thursday on all-around selling in the ring after an early attempt to breach Wednesday's high of 72.70 cents failed, floor sources said.

Published 07 May, 2004 12:00am

US MIDDAY: cocoa easier on light fund selling

CSCE cocoa ended slightly lower Thursday after a recovery from the previous session's sell-off fizzled while the market remained uneasy about oversupply.

Published 07 May, 2004 12:00am

US MIDDAY: sugar jumps on fund and local buying

CSCE raw sugar futures rose from prior one-month lows on Thursday as broad-based buying boosted prices above resistance and some players expected the market was in rally-mode before next week's Sugar Club dinner.

Published 07 May, 2004 12:00am

US MIDDAY: wheat falls on spill-over selling

Soft red winter wheat futures at the Chicago Board of Trade fell early on Thursday on spill-over selling from an abrupt drop in corn and soya, traders said.

Published 07 May, 2004 12:00am

US MIDDAY: corn futures lower on huge acreage this spring

Corn futures at the Chicago Board of Trade fell on Thursday, pressured by the stronger dollar and prospects for huge US corn acreage this spring, traders said.

Published 07 May, 2004 12:00am

US MIDDAY: soyabeans falter on weather forecasts

Chicago Board of Trade soyabean futures sagged on Thursday on forecasts for good rains during the next three to five days across the prime US soyabean-growing region, traders said.

Published 07 May, 2004 12:00am

US MIDDAY: copper firmer on covered short positions

COMEX copper prices firmed at the open on Thursday then slipped, as some players saw higher London prices and covered short positions after Wednesday's late rally and others grabbed small profits when continued buying failed to materialise, brokers said.

Published 07 May, 2004 12:00am

US MIDDAY: gold tumbles on unemployment data

COMEX gold slumped early Thursday after claims for US unemployment benefits fell to their lowest level in 3-1/2 years last week, lifting the dollar and the prospect for a strong April payrolls number on Friday.

Published 07 May, 2004 12:00am

South Korea keeps interest rates low

South Korea's central bank left interest rates at a record low on Thursday, bowing to weak domestic demand and uncertainty over an anticipated slowdown in China's economy.

Published 07 May, 2004 12:00am

Canadian firm finds gas in Bangladesh

Canadian oil company Niko Resources Ltd has discovered gas in an abandoned field in Bangladesh and aims to produce up to 15 million cubic feet (mcf), a senior energy official said on Thursday.

Published 07 May, 2004 12:00am

Saudi Arabia extends oil grant to Jordan

Saudi Arabia has agreed to extend an oil grant for another year to Jordan, which lost cheap oil supplies from Iraq following last year's US-led war, a senior official said on Thursday.

Published 07 May, 2004 12:00am

India pushes economic pact with Sri Lanka

India will pursue a comprehensive economic partnership agreement with Sri Lanka's new government amid plans for an aid package to rebuild the island's embattled regions, a top envoy said Thursday.

Published 07 May, 2004 12:00am

New IMF chief sees recovery bringing higher rates

Interest rates should become more "neutral" if there is a strong economic recovery in the United States and Europe and this would be a positive sign, new IMF chief Rodrigo Rato said on Thursday.

Published 07 May, 2004 12:00am

Post-Easter lull dents US sales, but profits strong

US retailers' April sales could not keep up with the torrid pace set in the first three months as shoppers took an after-Easter break, but higher prices protected profits, the companies reported on Thursday.

Published 07 May, 2004 12:00am

Don't blame Opec for soaring oil prices: analysts

Opec is not to blame for soaring oil prices which have hit 13-year highs as members pump up to maximum capacity, but the producers' cartel must do more to calm a nervous market, Gulf analysts say.

Published 07 May, 2004 12:00am

France's Axa hit after weaker insurance sales

France's Axa, Europe's largest insurer by premium income, reported a nearly two percent fall in first-quarter sales on Thursday, sending its shares four percent down.

Published 07 May, 2004 12:00am

France's Axa hit after weaker insurance sales

France's Axa, Europe's largest insurer by premium income, reported a nearly two percent fall in first-quarter sales on Thursday, sending its shares four percent down.

Published 07 May, 2004 12:00am

Samsung surpasses rival LG.Philips in PC displays

Samsung Electronics Co Ltd overtook archival LG.Philips in the first quarter as the world's top maker of high-resolution computer monitors, according to industry data, and Samsung is set to keep its lead.

Published 07 May, 2004 12:00am

Unions agree plan for Alitalia

Alitalia unions on Thursday agreed a government rescue plan for the loss-making national carrier at a meeting in Rome, a spokesman for the economy ministry said.

Published 07 May, 2004 12:00am

Blaze near Iraq pipeline after blast

An explosion in the vicinity of a strategic oil pipeline network linking north and south Iraq on Thursday sent flames and smoke into the air, a witness said.

Published 07 May, 2004 12:00am

Swiss Air cuts loss, upbeat on finances

Swiss International Air Lines reported a reduced first-quarter loss on Thursday, helped by rising demand and cuts in its costs, jobs and network, and said again that it has the cash to keep flying.

Published 07 May, 2004 12:00am

ABN Amro hires team to boost energy derivatives

Dutch investment bank ABN Amro has hired two employees from a leading rival in a bid to boost its commodity derivatives trading team.

Published 07 May, 2004 12:00am

AMEC shares slip on swelling debt, Iraq worries

Shares in Britain's AMEC fell on Thursday after the engineer reported swelling debt and said security risks in Iraq were clouding profit predictions.

Published 07 May, 2004 12:00am

AMEC shares slip on swelling debt, Iraq worries

Shares in Britain's AMEC fell on Thursday after the engineer reported swelling debt and said security risks in Iraq were clouding profit predictions.

Published 07 May, 2004 12:00am

AstraZeneca could shun German drug market

AstraZeneca Plc might not launch its biggest new drug hope, Crestor, in Germany because of a row over the product's label and potential pricing problems, the company's chief executive said on Thursday.

Published 07 May, 2004 12:00am

Finnish first-quarter industry confidence up at two-year high

Finland's industry confidence rose to a two-year high in the first quarter of 2004, with firms expecting export growth to continue in coming quarters, the country's top industry body said on Thursday.

Published 07 May, 2004 12:00am

News Corp profit rises 69 percent on DVD sales and TV ads

News Corp on Thursday reported quarterly profit rose 69 percent on robust sales of DVDs and increased advertising at its cable and broadcast television networks on the strength of the Fox News Channel and its hit show "American Idol."

Published 07 May, 2004 12:00am

News Corp profit rises 69 percent on DVD sales and TV ads

Published 07 May, 2004 12:00am

Dutch gas transport tariffs among EU's lowest

The Dutch gas distribution company Gastransport Services (GTS) offers one of the cheapest gas transport tariffs in the European Union, a study showed on Thursday.

Published 07 May, 2004 12:00am

Singapore Telecom rings up record earnings

Singapore Telecommunications said Thursday its past year earnings more than tripled to 4.49 billion Singapore dollars (2.64 billion US dollars) on the sale of non-core assets and an increasingly strong performance in its regional operations.

Published 07 May, 2004 12:00am

Singapore Telecom rings up record earnings

Published 07 May, 2004 12:00am

US House eyes Australia and Africa trade package

The head of the US House of Representatives main trade committee said on Wednesday he hoped to move quickly on a group of trade bills covering Australia, Morocco and sub-Saharan Africa.

Published 07 May, 2004 12:00am

Caremark quarterly profit rises 34 percent

Caremark Rx Inc on Thursday posted a 34 percent jump in quarterly profit, aided by higher use of mail-order deliveries and revenue from its $6.7 billion acquisition of rival AdvancePCS.

Published 07 May, 2004 12:00am

Caremark quarterly profit rises 34 percent

Caremark Rx Inc on Thursday posted a 34 percent jump in quarterly profit, aided by higher use of mail-order deliveries and revenue from its $6.7 billion acquisition of rival AdvancePCS.

Published 07 May, 2004 12:00am

Italia to mull options if debt target hit

Telecom Italia might consider a share buyback or acquisitions if it hits a target of cutting debt to under 30 billion euros by the end of 2004, the group's chairman, Marco Tronchetti Provera, said on Thursday.

Published 07 May, 2004 12:00am

Italia to mull options if debt target hit

Published 07 May, 2004 12:00am

FDA faults data on Endo drug, requires new trial

Endo Pharmaceuticals Inc on Thursday said the US Food and Drug Administration confirmed it will require an additional clinical trial on Endo's extended-release painkiller, posing a significant delay to the drug's launch.

Published 07 May, 2004 12:00am

British Airways passenger traffic increases

British Airways Plc, Europe's second-biggest airline, said on Thursday its April passenger traffic increased by 16.1 percent on the recovery in travel demand after the Iraq war and Sars virus last year.

Published 07 May, 2004 12:00am

BNP quarterly profit rises

French bank BNP Paribas on Thursday beat forecasts with a 31 percent rise in quarterly profit based on money management and retail banking growth but the results were flattered by one-off gains.

Published 07 May, 2004 12:00am

BNP quarterly profit rises

French bank BNP Paribas on Thursday beat forecasts with a 31 percent rise in quarterly profit based on money management and retail banking growth but the results were flattered by one-off gains.

Published 07 May, 2004 12:00am

BoE lifts interest rates as house prices soar

British interest rates rose a quarter-point on Thursday for the third time since November to 4.25 percent as the Bank of England tries to keep inflation in check in the face of soaring house prices and consumer spending.

Published 07 May, 2004 12:00am

BoE lifts interest rates as house prices soar

Published 07 May, 2004 12:00am

US jobless claims hit 2000 low in payrolls omen

America's employment outlook brightened on Thursday after the government said jobless claims dropped last week to their lowest since 2000, bolstering expectations for strong numbers in the April jobs report.

Published 07 May, 2004 12:00am

Seven former Mitsubishi executives arrested

Japanese police on Thursday arrested seven former Mitsubishi Motors Corp executives suspected of professional negligence and falsifying reports about a faulty truck hub blamed for one death and dozens of accidents, media said.

Published 07 May, 2004 12:00am

Poor states will be flexible in trade talks

A group of developing countries signalled on Thursday they were willing to be flexible on some key issues in an effort to revive world trade talks.

Published 07 May, 2004 12:00am

KLM swings to first full-year profit

KLM swung to its first full-year profit in three years on Thursday mainly due to deep cost cuts, reporting its last set of results before it is swallowed by Air France to create the world's top airline.

Published 07 May, 2004 12:00am

KLM swings to first full-year profit

Published 07 May, 2004 12:00am

EU top accountant seeks end to banking rules row

The European Union's top accounting expert will recommend that the region quickly endorses controversial book-keeping rules criticised by banks so its companies can issue comparable financial reports next year.

Published 07 May, 2004 12:00am

China seeks end to EU arms ban, market economy tag

Chinese Prime Minister Wen Jiabao exhorted the European Union on Thursday to end an arms embargo on his country and give it the status of a market economy in order to boost co-operation.

Published 07 May, 2004 12:00am

ECB warns on inflation risk, holds interest rates steady

The European Central Bank warned on Thursday that inflation is in danger of heating up as the eurozone economy gradually strengthens, effectively pushing the prospect of an interest rate cut off the agenda.

Published 07 May, 2004 12:00am

ECB warns on inflation risk, holds interest rates steady

Published 07 May, 2004 12:00am

UK call centres to grow despite offshoring

Britain's call centres are set to hire 200,000 extra workers over the next three years, a government-sponsored study said on Thursday, even though firms continue to move many such jobs to countries like India.

Published 07 May, 2004 12:00am

Greenspan warns on trade protectionism and budget gap

Trade protectionism and a rising US budget deficit both pose risks to the economic recovery, Federal Reserve Chairman Alan Greenspan said on Thursday.

Published 07 May, 2004 12:00am

Malaysian shares decline

Malaysian shares ended lower on Thursday, tracking a decline in regional markets, as concerns over a possible interest rate hike in the US and rising oil prices kept buyers out of the market.

Published 07 May, 2004 12:00am

Hong Kong stocks surge, China conglomerates lead

Hong Kong's main stock index finished higher on Thursday, as investors snapped up laggard shares despite looming worries China will soon introduce further measures to slow its booming economy.

Published 07 May, 2004 12:00am

US stocks end mixed; gains muted by oil services

US stocks ended mixed but little changed on Wednesday, as investors mulled the Federal Reserve's signal it would gradually hike interest rates and focused on upbeat news on earnings and the economy.

Published 07 May, 2004 12:00am

Thai stocks extend losses, touch five-month low

Thai stocks fell to a new five-month low on Thursday, again weighed down by investor concerns over the economic impact of violence in the country's mainly Muslim south and fears China will act to slow its economy.

Published 07 May, 2004 12:00am

Jakarta stocks weaken

Jakarta stocks closed weaker on Thursday as concerns about interest rate rises weighed over the market and weakness in the Indonesian rupiah currency encouraged foreign investors to sell.

Published 07 May, 2004 12:00am

Philippines stocks dip ahead of polls, led by Globe

Philippines stocks ended lower on Thursday, led by number two phone firm Globe Telecom Inc, as players locked in profits ahead of a long weekend for national elections on May 10.

Published 07 May, 2004 12:00am

Singapore shares drop, SingTel dips

Singapore shares fell on Thursday, snapping a two-day rise as Singapore Telecommunications dropped, despite unveiling strong results and a big dividend for shareholders.

Published 07 May, 2004 12:00am

Tokyo stocks at six-week low on US rate worries

Japanese stocks fell for a fourth straight session on Thursday, hitting six-week closing lows as the prospect of higher US interest rates pushed buyers to the sidelines.

Published 07 May, 2004 12:00am

Sri Lankan stocks up on foreign buying

Foreign buying boosted Sri Lankan stocks on Thursday to their third consecutive higher session.

Published 07 May, 2004 12:00am

Taiwan stocks bounce off 2004 low

Taiwan stocks bounced off a 2004 low on Thursday, ending higher as investors snapped up bargains among industrial issues that have been hammered lately, though domestic political worries cast a shadow over market confidence.

Published 07 May, 2004 12:00am

US Stocks: Thursday's unofficial close

US stocks fell Thursday, led by retailer Wal-Mart and financial company Citigroup, as fears of higher interest rates weighed on the market.

Published 07 May, 2004 12:00am

Indian stocks up on latest round of exit polls

Indian shares and the rupee ended higher on Thursday after the latest round of exit polls showed the pro-reform ruling coalition was closer to winning a majority in the national election than had been predicted last week.

Published 07 May, 2004 12:00am

Seoul shares end lower

South Korean shares closed at a three-month low on Thursday, hit by losses in chip making and banking stocks, as foreign investors sold heavily on concerns about the prospect of higher US interest rates and the regional economy.

Published 07 May, 2004 12:00am

Bonds: autos lead declines amid concern over rates

Autos bonds led declines in European corporate bonds on Thursday, with telecoms also dropping, amid concern that US interest rates are set to rise, damping demand for fixed income securities.

Published 07 May, 2004 12:00am

Bonds: autos lead declines amid concern over rates

Autos bonds led declines in European corporate bonds on Thursday, with telecoms also dropping, amid concern that US interest rates are set to rise, damping demand for fixed income securities.

Published 07 May, 2004 12:00am

Closing stock market indices

Here is how major stock markets outside the United States ended on Thursday.

Published 07 May, 2004 12:00am

Britain's top share index suffers biggest fall in six weeks

Britain's top shares suffered their biggest fall for over six weeks on Thursday as investors were rattled by concern that rising interest rates and high oil prices could combine to choke off economic revival.

Published 07 May, 2004 12:00am

Bangladeshi taka ends flat on lower import demand

The Bangladeshi taka was little changed on Thursday as demand for dollars from importers eased ahead of the local weekend, dealers said.

Published 07 May, 2004 12:00am

Hong Kong dollar little moved before US jobs data

The Hong Kong dollar and discounts on Hong Kong dollar forwards moved in a tight range on Thursday in cautious trade as players awaited key US payrolls data due the following day.

Published 07 May, 2004 12:00am

Swiss franc steady against US dollar

The Swiss franc was little changed against the dollar in early trade on Thursday ahead of Friday's key US employment data that will be eyed for fresh clues about the strength of the US recovery and the prospect of higher US interest rates, traders said.

Published 07 May, 2004 12:00am

Dollar up verses yen but market cautious before jobs data

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 29	278.13
USD PKR Interbank Buying / Nov 29	278.03
USD to Japanese Yen / Nov 29	150.14
USD to Swiss Franc / Nov 29	0.88
Pound Sterling to USD / Nov 29	1.27
Euro to USD / Nov 29	1.06

Stock	Volume
S&P 500 / Nov 28	5,998.74
Nasdaq / Nov 28	19,060.48
Dow Jones / Nov 28	44,722.06
India Sensex / Nov 29	19,338.14
Tokyo Nikkei / Nov 29	38,198.52
Hang Seng / Nov 29	79,714.50
FTSE 100 / Nov 29	8,273.90
Germany DAX 30 / Nov 29	19,432.28

Item	Value
Gold 10 Grams PKR / Nov 28	241,602.20
Petrol/Litre / Nov 29	248.38
Crude Oil USD/Barrel / Nov 29	69.08
Karachi Cotton PKR/37.32 KG / Nov 29	17,685
Gold Spot USD/Ounce / Nov 29	2,666.09
Diesel/Litre / Nov 29	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 29 786 Investments Limited(786)	6.74 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 29 Al-Abbas Sugar Mills Limited(AABS)	619.90 ▼ 0.00 (0.00%)
Agro Allianz / Nov 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 29 Ali Asghar Textile Mills Limited(AATM)	70 ▼ 0.00 (0.00%)
Allied Bank / Nov 29 Allied Bank Limited(ABL)	139.74 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 29 Abbott Laboratories (Pakistan) Limited(ABOT)	1,021.33 ▼ 0.00 (0.00%)
Abson Ind. / Nov 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 29 Alfalah Consumer Index ETF.(ACIETF)	12.66 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 29 786 Investments Limited(786)	6.74 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 29 Al-Abbas Sugar Mills Limited(AABS)	619.90 ▲ 0.00 (0.00%)
Agro Allianz / Nov 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 29 Ali Asghar Textile Mills Limited(AATM)	70 ▲ 0.00 (0.00%)
Allied Bank / Nov 29 Allied Bank Limited(ABL)	139.74 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 29 Abbott Laboratories (Pakistan) Limited(ABOT)	1,021.33 ▲ 0.00 (0.00%)
Abson Ind. / Nov 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 29 Alfalah Consumer Index ETF.(ACIETF)	12.66 ▲ 0.00 (0.00%)

Stock	Volume
B.O.Punjab / Nov 29 The Bank of Punjab(BOP)	179,225,089 ▲ 0.00
K-Electric Ltd. / Nov 29 K-Electric Limited(KEL)	64,868,271 ▲ 0.00
Bank Makramah / Nov 29 Bank Makramah Limited(BML)	60,297,878 ▲ 0.00
Pace (Pak) Ltd. / Nov 29 Pace (Pakistan) Limited(PACE)	55,350,909 ▲ 0.00
Hascol Petrol / Nov 29 Hascol Petroleum Limited(HASCOL)	42,730,290 ▲ 0.00
Fauji Foods Ltd / Nov 29 Fauji Foods Limited(FFL)	38,903,524 ▲ 0.00
Sui South Gas / Nov 29 Sui Southern Gas Company Limited(SSGC)	36,014,321 ▲ 0.00
Cnergyico PK / Nov 29 Cnergyico PK Limited(CNERGY)	33,477,996 ▲ 0.00
WorldCall Telecom / Nov 29 Worldcall Telecom Limited(WTL)	31,208,624 ▲ 0.00

Markets →

Budget 2024-25: income tax calculator for FY25

Most Popular