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Print - 2004-05-20
Bank Alfalah IPO may be oversubscribed

Bank Alfalah IPO may be oversubscribed

The initial public offering of Bank Alfalah is expected to be oversubscribed by over 8 times against its offer of Rs 1.2 billion.
Published 20 May, 2004 12:00am
Wapda to be asked to mention full-year GST in June bills

Wapda to be asked to mention full-year GST in June bills

Endorsing a major demand of All Pakistan Traders Alliance (APTA), the Central Board of Revenue (CBR) has decided to approach Water and Power Development Authority (Wapda) for giving monthly details of GST for the full fiscal in the electricity bills of Ju
Published 20 May, 2004 12:00am
Wapda to be asked to mention full-year GST in June bills

Wapda to be asked to mention full-year GST in June bills

Endorsing a major demand of All Pakistan Traders Alliance (APTA), the Central Board of Revenue (CBR) has decided to approach Water and Power Development Authority (Wapda) for giving monthly details of GST for the full fiscal in the electricity bills of Ju
Published 20 May, 2004 12:00am
Fata mineral director gunned down

Fata mineral director gunned down

Some unknown persons on Tuesday night gunned down Director Mineral Fata, Salim Mohmand at Shah Alam area near Daudzai on the outskirts of Peshawar.
Published 20 May, 2004 12:00am
Fata mineral director gunned down

Fata mineral director gunned down

Some unknown persons on Tuesday night gunned down Director Mineral Fata, Salim Mohmand at Shah Alam area near Daudzai on the outskirts of Peshawar.
Published 20 May, 2004 12:00am
Duty, taxes exemption on wheel-chair, hearing aid under study

Duty, taxes exemption on wheel-chair, hearing aid under study

The Central Board of Revenue (CBR) is considering, in the coming budget, to exempt import of wheel chairs, hearing aids and artificial parts for disabled persons, from custom duty, sales tax and withholding tax.
Published 20 May, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Duty, taxes exemption on wheel-chair, hearing aid under study

Duty, taxes exemption on wheel-chair, hearing aid under study

The Central Board of Revenue (CBR) is considering, in the coming budget, to exempt import of wheel chairs, hearing aids and artificial parts for disabled persons, from custom duty, sales tax and withholding tax.
Published 20 May, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
National kitty facing loss due to paper import under-invoicing

National kitty facing loss due to paper import under-invoicing

The national exchequer is facing loss of millions of rupees on account of misdeclaration of weight of imported paper and board consignments and under-invoicing in connivance with the customs officials as well as clearing agents.
Published 20 May, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
National kitty facing loss due to paper import under-invoicing

National kitty facing loss due to paper import under-invoicing

The national exchequer is facing loss of millions of rupees on account of misdeclaration of weight of imported paper and board consignments and under-invoicing in connivance with the customs officials as well as clearing agents.
Published 20 May, 2004 12:00am
NJLI Mutual Fund Rates

NJLI Mutual Fund Rates

New Jubilee Life Insurance Mutual Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
NJLI Mutual Fund Rates

NJLI Mutual Fund Rates

New Jubilee Life Insurance Mutual Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
NJLI Mutual Fund Rates

NJLI Mutual Fund Rates

New Jubilee Life Insurance Mutual Fund Rates on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Accountability Court convicts three PNSC officials

Accountability Court convicts three PNSC officials

The Accountability Court on Wednesday convicted three accused officers and office-bearers of Pakistan National Shipping Corporation (PNSC) for seven years rigorous imprisonment each in the case of contributory provident fund of corporation employees.
Published 20 May, 2004 12:00am
Southern Networks IPO under-subscribed

Southern Networks IPO under-subscribed

The Southern Networks Limited initial public offering was under-subscribed by nearly 13 percent, according to a notice issued to the Karachi Stock Exchange (KSE) on Wednesday.
Published 20 May, 2004 12:00am
JCR-VIS assigns BBB-, A-3 ratings to Associated Constructors

JCR-VIS assigns BBB-, A-3 ratings to Associated Constructors

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial medium to long-term and short-term entity ratings of 'BBB-' (Triple B Minus) and 'A-3' (A Three) respectively to Associated Constructors Ltd (ACL).
Published 20 May, 2004 12:00am
JCR-VIS assigns BBB-, A-3 ratings to Associated Constructors

JCR-VIS assigns BBB-, A-3 ratings to Associated Constructors

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial medium to long-term and short-term entity ratings of 'BBB-' (Triple B Minus) and 'A-3' (A Three) respectively to Associated Constructors Ltd (ACL).
Published 20 May, 2004 12:00am
LCCI to hold exhibition at Dushanbe

LCCI to hold exhibition at Dushanbe

The Lahore Chamber of Commerce and Industry (LCCI) will be arranging a three-day exhibition in Dushanbe (Tajikistan) in the third week of June, 2004.
Published 20 May, 2004 12:00am
ZTBL disbursed over Rs 7,994 million in four months to small farmers

ZTBL disbursed over Rs 7,994 million in four months to small farmers

The Zarai Taraqiati Bank Limited (ZTBL) on Wednesday said that it was catering to the credit needs of agriculture sector in an efficient and prudent manner, and during January-April 2004, the bank disbursed credit amounting to Rs 7994.402 million, of whic
Published 20 May, 2004 12:00am
Budget must focus on products' cost-effectiveness: KCCI

Budget must focus on products' cost-effectiveness: KCCI

Siraj Kassam Teli, President of Karachi Chamber of Commerce and Industry (KCCI), has emphasised that in the context of globalisation and the emergence of WTO regime, it is imperative that the next budget must contribute to the cost-effectiveness of produc
Published 20 May, 2004 12:00am
US 'very concerned' about Palestinian deaths

US 'very concerned' about Palestinian deaths

The White House called on Israel on Wednesday to exercise "maximum restraint" in Gaza and said it was very concerned about the number of Palestinian deaths after Israeli forces opened fire on a protest march.
Published 20 May, 2004 12:00am
EU raps Greece and Netherlands over budgets

EU raps Greece and Netherlands over budgets

Greece came under severe fire from the European Commission on Wednesday for letting its budget deficit rise above European Union limits and for imprudent fiscal policies.
Published 20 May, 2004 12:00am
Japan urges compromise in Lankan peace talks

Japan urges compromise in Lankan peace talks

Japan Wednesday urged Sri Lanka's warring parties to compromise in peace talks to be revived by this summer as international donors were set to review financial support to rebuild the island.
Published 20 May, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Sony in exclusive talks to buy MGM

Sony in exclusive talks to buy MGM

Sony Corp said on Wednesday it was in exclusive negotiations with movie studio Metro-Goldwyn-Mayer Inc on a possible take-over that could bolster its film library but put a dent in its finances.
Published 20 May, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Sony in exclusive talks to buy MGM

Sony in exclusive talks to buy MGM

Sony Corp said on Wednesday it was in exclusive negotiations with movie studio Metro-Goldwyn-Mayer Inc on a possible take-over that could bolster its film library but put a dent in its finances.
Published 20 May, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Wolfensohn rejects World Bank corruption charges

Wolfensohn rejects World Bank corruption charges

The World Bank's president on Tuesday dismissed as "frivolous" allegations by US lawmakers and academics that billions of dollars of bank funding were misused.
Published 20 May, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Eurozone trade surplus almost doubles in March

Eurozone trade surplus almost doubles in March

The eurozone's trade surplus almost doubled in March from February, the European Union statistics office said on Wednesday, the latest sign the bloc's exporters are fully benefiting from the global recovery.
Published 20 May, 2004 12:00am
Rabi-us-Sani moon to be sighted on May 20

Rabi-us-Sani moon to be sighted on May 20

The Rabi-us-Sani moon should be sighted today, Thursday. Rabi-us-Sani One, 1425 AH, will, therefore, fall on Friday, according to the Astronomical parameters.
Published 20 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 Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Rabi-us-Sani moon to be sighted on May 20

Rabi-us-Sani moon to be sighted on May 20

The Rabi-us-Sani moon should be sighted today, Thursday. Rabi-us-Sani One, 1425 AH, will, therefore, fall on Friday, according to the Astronomical parameters.
Published 20 May, 2004 12:00am
Sony PlayStation shipments top 100 million units

Sony PlayStation shipments top 100 million units

Sony Computer Entertainment said Wednesday that global shipments of its PlayStation and PSOne consoles have exceeded 100 million units, a record high for household computer games. The landmark was reached on Tuesday.
Published 20 May, 2004 12:00am
Seven EoIs received for Kapco

Seven EoIs received for Kapco

The Privatisation Commission has received seven expressions of interest (EoIs) for Kot Addu Power Company (Kapco). The government has decided to list the shares of (Kapco) at Karachi, Lahore and Islamabad stock exchanges and to offer 10 percent shares to
Published 20 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 Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Seven EoIs received for Kapco

Seven EoIs received for Kapco

The Privatisation Commission has received seven expressions of interest (EoIs) for Kot Addu Power Company (Kapco). The government has decided to list the shares of (Kapco) at Karachi, Lahore and Islamabad stock exchanges and to offer 10 percent shares to
Published 20 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 Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Seven EoIs received for Kapco

Seven EoIs received for Kapco

The Privatisation Commission has received seven expressions of interest (EoIs) for Kot Addu Power Company (Kapco). The government has decided to list the shares of (Kapco) at Karachi, Lahore and Islamabad stock exchanges and to offer 10 percent shares to
Published 20 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 Wednesday (May 19, 2004).
Published 20 May, 2004 12:00am
Bull dominate ISE proceedings

Bull dominate ISE proceedings

Bulls dominated the proceedings on the Islamabad Stock Exchange (ISE) where equities recovered under the lead of heavyweights amid increase in index.
Published 20 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 20 May, 2004 12:00am
Bull dominate ISE proceedings

Bull dominate ISE proceedings

Bulls dominated the proceedings on the Islamabad Stock Exchange (ISE) where equities recovered under the lead of heavyweights amid increase in index.
Published 20 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 20 May, 2004 12:00am
Equities surge on Lahore Stock Exchange

Equities surge on Lahore Stock Exchange

Boosted by strong buying interest, notably in fuel & energy and cement sectors, equities surged with the index scoring 59.13 points on the Lahore stock Exchange (LSE).
Published 20 May, 2004 12:00am
Equities surge on Lahore Stock Exchange

Equities surge on Lahore Stock Exchange

Boosted by strong buying interest, notably in fuel & energy and cement sectors, equities surged with the index scoring 59.13 points on the Lahore stock Exchange (LSE).
Published 20 May, 2004 12:00am
Kenyan tea prices fall

Kenyan tea prices fall

Prices for top quality Kenyan teas dipped at this week's auction due to weakened interest from Pakistan and poorer quality on the back of heavy seasonal rain, traders said on Wednesday.
Published 20 May, 2004 12:00am
KSE index gains 50.53 points

KSE index gains 50.53 points

Active support from financial institutions and leading brokerage houses arrested the declining trend at the share market on Wednesday where volume soared, indicating that attractive share prices promoted buying.
Published 20 May, 2004 12:00am
China Shipping cuts IPO size again

China Shipping cuts IPO size again

China Shipping Container Lines (CSCL) has cut the size of its initial public offering again by more than 20 percent to US $1-1.2 billion after fund managers pushed for lower pricing, market sources said on Wednesday.
Published 20 May, 2004 12:00am
KSE index gains 50.53 points

KSE index gains 50.53 points

Active support from financial institutions and leading brokerage houses arrested the declining trend at the share market on Wednesday where volume soared, indicating that attractive share prices promoted buying.
Published 20 May, 2004 12:00am
China Shipping cuts IPO size again

China Shipping cuts IPO size again

China Shipping Container Lines (CSCL) has cut the size of its initial public offering again by more than 20 percent to US $1-1.2 billion after fund managers pushed for lower pricing, market sources said on Wednesday.
Published 20 May, 2004 12:00am
57.536 million PIA shares to be put on sale for public

57.536 million PIA shares to be put on sale for public

The Privatisation Commission (PC) has decided to sell 57.536 million shares of Pakistan International Airlines through the stock market by the end of this month to help deepen the capital market base and to pass on the benefit of assets sale to retail inv
Published 20 May, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 87,858 tonnes of cargo including 68,526 tonnes import and 19,332 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday.
Published 20 May, 2004 12:00am
57.536 million PIA shares to be put on sale for public

57.536 million PIA shares to be put on sale for public

The Privatisation Commission (PC) has decided to sell 57.536 million shares of Pakistan International Airlines through the stock market by the end of this month to help deepen the capital market base and to pass on the benefit of assets sale to retail inv
Published 20 May, 2004 12:00am
CBOT wheat futures up on technical bounce

CBOT wheat futures up on technical bounce

Wheat futures at the Chicago Board of Trade closed higher on Tuesday on a technical bounce from oversold levels and on weather woes, traders said.
Published 20 May, 2004 12:00am
Singapore bunker fuel prices lower

Singapore bunker fuel prices lower

Singapore bunker or ship fuel prices eased on Wednesday under pressure from lower benchmark crude and cautious buying, traders said.
Published 20 May, 2004 12:00am
Argentina cuts soya crop forecast

Argentina cuts soya crop forecast

Argentina cut its 2003/04 soyabean crop forecast to 32 million tonnes from 33 million tonnes in April due to adverse weather conditions that hurt yields, the government's agriculture department said on Wednesday.
Published 20 May, 2004 12:00am
Over $760 million FDI received in 10 months

Over $760 million FDI received in 10 months

Foreign Direct Investment (FDI) into the country increased by 9.3 percent in the last ten months, while the highest inflow was recorded from Switzerland.
Published 20 May, 2004 12:00am