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Print - 2004-06-06
Over 50 tourists stranded in Gilgit

Over 50 tourists stranded in Gilgit

As over 50 foreign tourists, including four Germans remained stranded in Gilgit, authorities were making arrangements on Saturday to bring them back to Islamabad, said German diplomatic sources.
Published 06 Jun, 2004 12:00am
US stocks led by Intel, jobs data, lower oil prices

US stocks led by Intel, jobs data, lower oil prices

US stocks rose on Friday as Intel Corp's positive outlook lifted the technology sector, and a strong jobs report and lower oil prices boosted investors' confidence about the US economy.
Published 06 Jun, 2004 12:00am
Canadian bond prices tumble

Canadian bond prices tumble

The Canadian bond prices fell hard on Friday as the strong jobs data eroded their safe-haven premium and prompted economists to predict quicker Bank of Canada rate action.
Published 06 Jun, 2004 12:00am
Canadian bond prices tumble

Canadian bond prices tumble

The Canadian bond prices fell hard on Friday as the strong jobs data eroded their safe-haven premium and prompted economists to predict quicker Bank of Canada rate action.
Published 06 Jun, 2004 12:00am
US Treasuries hurt as hiring burst heralds rate hike

US Treasuries hurt as hiring burst heralds rate hike

US Treasuries stumbled lower on Friday, pumping short-term yields to two-year highs as another solid month of job gains reinforced predictions for a Federal Reserve interest rate hike at the end of the month.
Published 06 Jun, 2004 12:00am
US Treasuries hurt as hiring burst heralds rate hike

US Treasuries hurt as hiring burst heralds rate hike

US Treasuries stumbled lower on Friday, pumping short-term yields to two-year highs as another solid month of job gains reinforced predictions for a Federal Reserve interest rate hike at the end of the month.
Published 06 Jun, 2004 12:00am
Toronto stocks up, close week with minor gain

Toronto stocks up, close week with minor gain

Toronto stocks finished slightly higher on Friday, ending the week almost right where they started, as technology issues rebounded on a bout of bargain-hunting amid a brighter economic outlook.
Published 06 Jun, 2004 12:00am
South African stocks week ahead: Telkom turmoil in focus

South African stocks week ahead: Telkom turmoil in focus

Telkom will be in focus next week on South Africa's bourse as the fixed-line monopoly faces pressure to defend its dramatic retreat from Nigeria when it announces results, analysts said on Friday.
Published 06 Jun, 2004 12:00am
American credit market outlook

American credit market outlook

Some credit analysts sceptically view the outlook for Albertsons these days, but traders said it was unlikely the grocery giant's debt will take too much of a hit.
Published 06 Jun, 2004 12:00am
American credit market outlook

American credit market outlook

Some credit analysts sceptically view the outlook for Albertsons these days, but traders said it was unlikely the grocery giant's debt will take too much of a hit.
Published 06 Jun, 2004 12:00am
Argentine shares dip

Argentine shares dip

Argentine stocks closed lower on Friday amid lingering pessimism about whether the government's final offer to revamp $100 billion in defaulted debt will be accepted by creditors, traders said.
Published 06 Jun, 2004 12:00am
US corporate bonds spread narrow after jobs report

US corporate bonds spread narrow after jobs report

US corporate bond spreads narrowed on Friday for the first time this week after a jobs report reassured investors that the Federal Reserve will move gradually when it begins to raise interest rates.
Published 06 Jun, 2004 12:00am
US corporate bonds spread narrow after jobs report

US corporate bonds spread narrow after jobs report

US corporate bond spreads narrowed on Friday for the first time this week after a jobs report reassured investors that the Federal Reserve will move gradually when it begins to raise interest rates.
Published 06 Jun, 2004 12:00am
Mexican stocks rally, led by America Movil

Mexican stocks rally, led by America Movil

Mexican stocks rallied on Friday, led by cell phone operator America Movil, and the peso gained as new US economic data showed strong growth, though not so strong as to force a sharp rise in US interest rates.
Published 06 Jun, 2004 12:00am
Brazil shares finish 2.16 percent higher

Brazil shares finish 2.16 percent higher

Brazil's financial markets rose sharply on Friday on positive US jobs data and lower oil prices, both seen as favourable to the nation's economic growth prospects, traders said.
Published 06 Jun, 2004 12:00am
Chile stocks mixed on caution ahead of holiday

Chile stocks mixed on caution ahead of holiday

Chilean stocks were mixed on Friday in quiet trade despite strong US jobs data and easing oil prices, traders said, as investors took to the sidelines ahead of a long weekend. Markets will be closed on Monday for the Corpus Christi religious holiday.
Published 06 Jun, 2004 12:00am
Peru to offer $26 million bonds after May auction flop

Peru to offer $26 million bonds after May auction flop

Peru will auction 90 million soles ($25.8 million) of sovereign bonds in the domestic market next Tuesday and Wednesday, the Economy Ministry said on Friday, its first offer since an auction a month ago flopped.
Published 06 Jun, 2004 12:00am
Peru to offer $26 million bonds after May auction flop

Peru to offer $26 million bonds after May auction flop

Peru will auction 90 million soles ($25.8 million) of sovereign bonds in the domestic market next Tuesday and Wednesday, the Economy Ministry said on Friday, its first offer since an auction a month ago flopped.
Published 06 Jun, 2004 12:00am
Canadian dollar higher

Canadian dollar higher

The Canadian dollar spiked higher against the US currency on Friday.
Published 06 Jun, 2004 12:00am
Indian foreign exchange reserves at new high

Indian foreign exchange reserves at new high

India's foreign exchange reserves climbed to a new high of $119.82 billion by May 28, helped by a fall in the dollar's global value, analysts said.
Published 06 Jun, 2004 12:00am
IMM euro speculators extend net long position: CFTC

IMM euro speculators extend net long position: CFTC

Speculators in euro futures extended a net long position in the week ended June 1 to its largest since late February, data from the Commodity Futures Trading Commission showed on Friday.
Published 06 Jun, 2004 12:00am
Strong US jobs report less than stellar for dollar

Strong US jobs report less than stellar for dollar

The dollar slipped on Friday after US jobs data came in at the high end of expectations but still disappointed investors who had bet that a powerful surge in job creation would boost demand for dollars.
Published 06 Jun, 2004 12:00am
Fed's Kohn sees no major US inflation threat

Fed's Kohn sees no major US inflation threat

The US economy is not threatened by a wave of worsening inflation that would force policymakers to sharply hike official interest rates, a top Federal Reserve official said on Friday.
Published 06 Jun, 2004 12:00am
Brazil real stronger

Brazil real stronger

Brazil's currency, the real, closed 0.76 percent stronger on Friday at 3.131 per greenback, also recovering from a 13-month low of 3.212 on May 20.
Published 06 Jun, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 54,488 tonnes of cargo including 45,421 tonnes import and 9,067 tonnes export cargo during last 24 hours ending at 0700 hours on Saturday.
Published 06 Jun, 2004 12:00am
Brazil Amazon port to double capacity

Brazil Amazon port to double capacity

Itacoatiara, the river port deep in Brazil's Amazon, will double its soyabean shipping capacity to 3,000 tonnes an hour, Brazil's National Development Bank (BNDES) said on Wednesday.
Published 06 Jun, 2004 12:00am
China Shipping sees container rates rising

China Shipping sees container rates rising

China Shipping Container Lines Co Ltd, the world's No. 10 container line, said on Thursday it expects average freight rates to rise by 11 to 13 percent this year as container fleet demand continues to outstrip supply.
Published 06 Jun, 2004 12:00am
Asian freight rates seen soft

Asian freight rates seen soft

Panamax dry bulk rates will likely be unchanged or ease another notch this week, hit by a slowdown in Chinese demand for grains and minerals, shipping industry sources said on Tuesday.
Published 06 Jun, 2004 12:00am
Brazil's sugar vessels line-up rises

Brazil's sugar vessels line-up rises

The line-up of vessels to load sugar in Brazil's ports increased to 34 from 28 last week, shipping agent Williams said on Thursday.
Published 06 Jun, 2004 12:00am
Suez Canal earnings down

Suez Canal earnings down

The Suez Canal earned $248.8 million in revenue in April compared to $253.5 million in March and $222.0 million in April 2003, according to the government's monthly Egyptian Economic Bulletin.
Published 06 Jun, 2004 12:00am
CVRD and ALL seek to invest in Brazil infrastructure

CVRD and ALL seek to invest in Brazil infrastructure

Brazil's leading iron ore miner CVRD and logistics company ALL expect Brazil's government to allow them to invest more heavily in the country's underdeveloped railways, ports and roads, company officials told Reuters.
Published 06 Jun, 2004 12:00am
Black consortium launches South African shipping line

Black consortium launches South African shipping line

A black-owned consortium will launch South Africa's second shipping line on Tuesday, hoping to win business from firms that, under a government empowerment scheme, must work more with black-owned companies.
Published 06 Jun, 2004 12:00am
Costa Rica coffee exports fall

Costa Rica coffee exports fall

Costa Rica coffee exports fell 7.4 percent in May, to 277,886 46-kg bags from 300,090 bags a year earlier, the Costa Rican Coffee Institute said on Friday.
Published 06 Jun, 2004 12:00am
First new cotton crop deal finalised for August delivery

First new cotton crop deal finalised for August delivery

First deal of 2004-05 crop was finalised on the cotton market on Saturday along with some deals of current crop, relevant sources said. They said spot sale shed Rs 25 to Rs 3075 without ST and upcountry expenses.
Published 06 Jun, 2004 12:00am
Oil cake market rates

Oil cake market rates

The July vaida opened 40 paisa down at Rs 482.80 and highest of day's trading was seen at Rs 483.30. Later in depressed trading it lost 80 paisa to be the lowest at Rs 482.50 and closing was seen at Rs 482.80.
Published 06 Jun, 2004 12:00am
South Korea agrees to give rice aid to North

South Korea agrees to give rice aid to North

North and South Korea wrapped up four days of economic talks in Pyongyang on Saturday, agreeing on rice aid for the communist North, restoring railway and road links and opening an industrial park in the North.
Published 06 Jun, 2004 12:00am
Mauritius sugar production seen higher

Mauritius sugar production seen higher

Mauritius sugar production is expected to rise to about 590,000 tonnes in 2004 from 537,155 tonnes the previous year, the Mauritius Chamber of Agriculture said in its annual forecast on Friday.
Published 06 Jun, 2004 12:00am
CBOT rice lower

CBOT rice lower

Chicago Board of Trade rough rice futures settled lower on Friday after speculative selling again outweighed scale-down commercial buying, brokers said.
Published 06 Jun, 2004 12:00am
Soyabean end up; US weather and USDA data eyed

Soyabean end up; US weather and USDA data eyed

Chicago Board of Trade soyabean ended sharply higher on Friday on short-covering after on Thursday's near-limit losses and on expectations the USDA would cut its South American Soya crop estimate next on Friday, traders said.
Published 06 Jun, 2004 12:00am
Comex copper trims loss at close

Comex copper trims loss at close

Comex copper ended lower on Friday, hit by fears that higher interest rates would slow metal demand, but prices climbed off the lows once analysts surmised that a rate increase would probably be small and its impact minimal, traders said.
Published 06 Jun, 2004 12:00am
CSCE sugar firmer

CSCE sugar firmer

CSCE raw sugar futures finished firmer on Friday on a steady drumbeat of speculative fund buying, with operators saying the market could possibly grind higher next week.
Published 06 Jun, 2004 12:00am
US cotton export sales highlights

US cotton export sales highlights

USDA cotton export sales highlights for latest reporting week. Net Upland sales of 149,400 RB were 38 percent above the previous week and one-third over the prior 4-week average.
Published 06 Jun, 2004 12:00am
China cotton: inquiries slow on likely bumper crop

China cotton: inquiries slow on likely bumper crop

China, the world's top cotton consumer, is unlikely to seal big orders on global markets in coming months as users turn to cheaper domestic sources, industry sources said on Friday.
Published 06 Jun, 2004 12:00am
Rains may boost Australian wheat crop

Rains may boost Australian wheat crop

Recent rains in Australia may boost the next wheat crop, which is already half planted, to a record of around 25 million tonnes, rural brokers said on Friday.
Published 06 Jun, 2004 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin fell $20 a tonne on Friday, extending a correction from Thursday, despite a bounce in the London price, dealers said.
Published 06 Jun, 2004 12:00am
Cuban sugar crop up

Cuban sugar crop up

Cuba said on Friday the 2003/2004-sugar crop weighed in at 2.52 million tonnes of raw sugar and was more efficient than last year's disastrous harvest, which followed a radical downsizing of the industry.
Published 06 Jun, 2004 12:00am
Kazakhs ready to discuss taxes with oil majors

Kazakhs ready to discuss taxes with oil majors

Kazakhstan will balance the interests of foreign investors and the state as it tries to maximise benefits from its natural resources, President Nursultan Nazarbayev said late on Friday.
Published 06 Jun, 2004 12:00am
Nigerian GSM firm changes name

Nigerian GSM firm changes name

Nigeria's number two cellular network said on Saturday it would trade as Vmobile after a brief partnership with Africa's leading operator crashed this week.
Published 06 Jun, 2004 12:00am
Nigerian GSM firm changes name

Nigerian GSM firm changes name

Nigeria's number two cellular network said on Saturday it would trade as Vmobile after a brief partnership with Africa's leading operator crashed this week.
Published 06 Jun, 2004 12:00am
ADB gives aid to Bangladesh

ADB gives aid to Bangladesh

The Asian Development Bank said Saturday it was giving a 420,000-dollar technical assistance grant to Bangladesh to help its female garment workers who lose jobs when textile export quota curbs end.
Published 06 Jun, 2004 12:00am
Ferrari looks to China for new growth momentum

Ferrari looks to China for new growth momentum

Italian car maker Fiat's ultra-luxury unit Ferrari Maserati on Saturday opened its first showroom in China, where it expects 2004 sales to double to some 200 units, about five percent of total capacity.
Published 06 Jun, 2004 12:00am
MGM Mirage makes $4.85 billion bid for Mandalay Resort

MGM Mirage makes $4.85 billion bid for Mandalay Resort

Casino operator MGM Mirage on Friday launched a $4.85 billion unsolicited bid to buy rival Mandalay Resort Group and create the largest gambling company in the United States owning about a third of the Las Vegas Strip.
Published 06 Jun, 2004 12:00am
MGM Mirage makes $4.85 billion bid for Mandalay Resort

MGM Mirage makes $4.85 billion bid for Mandalay Resort

Casino operator MGM Mirage on Friday launched a $4.85 billion unsolicited bid to buy rival Mandalay Resort Group and create the largest gambling company in the United States owning about a third of the Las Vegas Strip.
Published 06 Jun, 2004 12:00am
Lufthansa to hike long-haul prices

Lufthansa to hike long-haul prices

German airline Lufthansa, under pressure from competitors to impose ticket surcharges due to soaring oil prices, said on Saturday it would hike long-haul flight prices by three percent from July 1.
Published 06 Jun, 2004 12:00am
Malaysia has $13 billion in development kitty: minister

Malaysia has $13 billion in development kitty: minister

Malaysia has almost 50 billion ringgit ($13 billion) for infrastructure and other development until 2005 and its finances are "comfortable", a government official was quoted as saying on Saturday.
Published 06 Jun, 2004 12:00am
United Airlines sees delay in profit

United Airlines sees delay in profit

UAL Corp's bankrupt carrier United Airlines said on Saturday it expects higher oil prices to delay its return to profitability at an operating level until next year.
Published 06 Jun, 2004 12:00am
United Airlines sees delay in profit

United Airlines sees delay in profit

UAL Corp's bankrupt carrier United Airlines said on Saturday it expects higher oil prices to delay its return to profitability at an operating level until next year.
Published 06 Jun, 2004 12:00am
Japan passes pension bill despite opposition battle

Japan passes pension bill despite opposition battle

Japan's parliament passed a contentious pension reform bill on Saturday despite a struggle by the main opposition party to kill it, a play for support a month before elections in which pension policy will be a hot topic.
Published 06 Jun, 2004 12:00am
German unemployment falls, consumers gloomy

German unemployment falls, consumers gloomy

German unadjusted unemployment fell in May to around 4.307 million from 4.443 million in April but consumers are still deeply pessimistic about the economy, newspapers reported on Saturday.
Published 06 Jun, 2004 12:00am
India wins EU deal to launch satellite

India wins EU deal to launch satellite

India's space agency has won a 10-million-dollar contract to launch its first satellite for the European Union, the space chief said Saturday.
Published 06 Jun, 2004 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Your rupee last month

Your rupee last month

Following currency fluctuations took place in foreign exchange rates during the last month (May 04 to 31, 2004).
Published 06 Jun, 2004 12:00am
THE RUPEE: 5 paisa gain versus dollar in open market

THE RUPEE: 5 paisa gain versus dollar in open market

Modest recovery was seen in the open market at the week-end as the rupee picked up five paisa versus dollar for buying and selling at Rs 58.30 and Rs 58.40, respectively, dealers said.
Published 06 Jun, 2004 12:00am
THE RUPEE: 5 paisa gain versus dollar in open market

THE RUPEE: 5 paisa gain versus dollar in open market

Modest recovery was seen in the open market at the week-end as the rupee picked up five paisa versus dollar for buying and selling at Rs 58.30 and Rs 58.40, respectively, dealers said.
Published 06 Jun, 2004 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Cable operators warned of action for poor services

Cable operators warned of action for poor services

The council of complaint of Pakistan Electronics Media Regulatory Authority (Pemra) at a meeting in Karachi on Saturday expressed its concern on the increase of subscribers' complaints against the poor service provided by cable operators.
Published 06 Jun, 2004 12:00am
Anti-war protest held in Washington

Anti-war protest held in Washington

Hundreds of demonstrators gathered peacefully in heavy rain in a park across from the White House on Saturday to protest the war in Iraq and the presence of US and French troops in Haiti.
Published 06 Jun, 2004 12:00am
'Delhi holds Pakistani leadership in highest esteem'

'Delhi holds Pakistani leadership in highest esteem'

Expressing that India holds leadership of Pakistan in the highest esteem, New Delhi on Saturday said that the remarks attributed to External Affairs Minister K Natwar Singh regarding President Musharraf in an interview were taken out of context completely
Published 06 Jun, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
'Delhi holds Pakistani leadership in highest esteem'

'Delhi holds Pakistani leadership in highest esteem'

Expressing that India holds leadership of Pakistan in the highest esteem, New Delhi on Saturday said that the remarks attributed to External Affairs Minister K Natwar Singh regarding President Musharraf in an interview were taken out of context completely
Published 06 Jun, 2004 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (June 05, 2004).
Published 06 Jun, 2004 12:00am
Provinces to get Rs 28 billion more from divisible pool

Provinces to get Rs 28 billion more from divisible pool

The share of provinces in the federal divisible pool in the upcoming budget would be Rs 204 billion against Rs 176.36 billion for 2003-04, showing an increase of about Rs 28 billion or 15 percent over the previous year.
Published 06 Jun, 2004 12:00am