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Print - 2004-08-03
Malaysian July palm oil exports up

Malaysian July palm oil exports up

Malaysia's export of oil palm products for July stood at 1,114,671 tonnes, up 16.6 percent from the 956,003 tonnes shipped in June, cargo surveyor Society Generale de Surveillance said on Monday.
Published 03 Aug, 2004 12:00am
HRW wheat mostly steady in US Plains

HRW wheat mostly steady in US Plains

Spot basis bids for hard red winter (HRW) wheat in the US Plains production areas were mostly steady on Monday with business quiet in many locations, merchants said.
Published 03 Aug, 2004 12:00am
Zambia exports white maize to Zimbabwe

Zambia exports white maize to Zimbabwe

Zambia's state Food Reserve Agency (FRA) has exported 28,000 tonnes of white maize to Zimbabwe and will soon export an additional 54,400 tonnes to southern African countries, a senior industry official said.
Published 03 Aug, 2004 12:00am
Jordan likely to buy US-origin hard wheat

Jordan likely to buy US-origin hard wheat

Jordan's government is likely to issue a tender to purchase about 130,000 tonnes of US-origin hard wheat in August, European traders said on Monday.
Published 03 Aug, 2004 12:00am
US Midwest soya weaker, corn mixed

US Midwest soya weaker, corn mixed

Spot basis bids for soyabean were mostly weaker early Monday across the US Midwest, while corn basis bids were steady to mixed, dealers said.
Published 03 Aug, 2004 12:00am
South Korean rice growers seek economies of scale

South Korean rice growers seek economies of scale

South Korea will double the average size of full-time rice farms to raise competitiveness of domestic farmers who may face imports of cheaper rice if world trade talks succeed, the agriculture ministry said on Monday.
Published 03 Aug, 2004 12:00am
Cuba's sugar industry battles devastating drought

Cuba's sugar industry battles devastating drought

Cuba is urging sugar workers to take advantage of recent rainfall and ease damage caused by drought, local media said on Monday, though reports left no doubt that the coming harvest was in trouble and some mills would not open.
Published 03 Aug, 2004 12:00am
Lower tax to boost gold shipments to Gujarat

Lower tax to boost gold shipments to Gujarat

Gold shipments to the western Indian state of Gujarat, which used to be a major hub for imports of the metal, are likely to rise sharply after the state's sales tax on gold was cut at the weekend, traders said.
Published 03 Aug, 2004 12:00am
Brazilian coffee set for dry harvest weather

Brazilian coffee set for dry harvest weather

A weak cold front passed through the south-eastern coffee belt over the weekend without changing the outlook for favourable dry harvesting weather this week, private forecaster Somar said Monday.
Published 03 Aug, 2004 12:00am
Huludao restarts 50,000 tonnes zinc capacity

Huludao restarts 50,000 tonnes zinc capacity

Huludao Non-ferrous Metals Group, which has the largest zinc capacity in China, has restarted part of a smelter that has been closed for more than three years, a company official said on Monday.
Published 03 Aug, 2004 12:00am
Shanghai copper up, low stocks lend support

Shanghai copper up, low stocks lend support

Shanghai copper futures gained ground on Monday as metal markets received a boost from a weaker US dollar and warehouse stocks hitting multi-year lows at home and abroad, traders said.
Published 03 Aug, 2004 12:00am
Asia told to enhance security, investment as shipping trade grows

Asia told to enhance security, investment as shipping trade grows

Asia's shipping trade is expected to grow sharply led by China and India, but the region must enhance security and invest some 27 billion dollars to build over 430 new container berths by 2011 to meet rising demand, shippers and analysts said Monday.
Published 03 Aug, 2004 12:00am
Weak rains threaten Ivory Coast's cocoa crop

Weak rains threaten Ivory Coast's cocoa crop

Weak rains in many of Ivory Coast's cocoa-growing areas persisted into the last 11 days of July, causing concern over the development of the coming main crop in the world's top producer, analysts said on Monday.
Published 03 Aug, 2004 12:00am
Singapore bunker fuel prices up

Singapore bunker fuel prices up

Singapore bunker or ship fuel prices climbed on Monday with overall strong crude gains but high bunker prices over $190 a tonne kept most buyers sidelined, with enquiries falling below average.
Published 03 Aug, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 69,762 tonnes of cargo including 48,389 tonnes import and 21,373 tonnes export cargo during last 24 hours ending at 0700 hours on Monday.
Published 03 Aug, 2004 12:00am
Indonesia rubber prices may fall

Indonesia rubber prices may fall

Lean demand is likely to steer Indonesian rubber prices downward in the coming days and traders said on Monday growing supplies from top producer Thailand may push prices lower.
Published 03 Aug, 2004 12:00am
Tokyo rubber dips as firmer yen spurs profit taking

Tokyo rubber dips as firmer yen spurs profit taking

Tokyo rubber futures finished lower on Monday, surrendering to profit-taking after last week's rally, with operators watching the currency and energy markets for clues to the rubber market's direction, brokers said.
Published 03 Aug, 2004 12:00am
Tokyo platinum marks eight-week high

Tokyo platinum marks eight-week high

Tokyo platinum futures rose briskly on Monday to mark an eight-week high on the back of strong gains in overseas futures markets and firm spot prices.
Published 03 Aug, 2004 12:00am
East Asian grains: Taiwan and Japan active; South Korea quiet

East Asian grains: Taiwan and Japan active; South Korea quiet

Taiwan and Japan are likely to buy corn in coming weeks due to a seasonal pick-up in demand in the lead up to a holiday, but South Korea will stay on the sidelines in anticipation of further price falls, traders said on Monday.
Published 03 Aug, 2004 12:00am
Australian wool prices seen firm after recess

Australian wool prices seen firm after recess

The Australian wool market resumes this week following the winter recess, with sales scheduled in Melbourne and Fremantle, industry analysts said on Monday.
Published 03 Aug, 2004 12:00am
Vietnam's 2003-04 coffee sale jumps 42.2 percent

Vietnam's 2003-04 coffee sale jumps 42.2 percent

Vietnam, the world's top robusta exporter, has estimated its October 2003-July 2004 coffee export rose 42 percent to 832,000 tonnes (13.9 million 60-kg bags), the government said.
Published 03 Aug, 2004 12:00am
Liffe cocoa hits new high

Liffe cocoa hits new high

London cocoa futures extended Friday's rally to reach more than a seven-month high, as meteorological data released Monday added to market jitters over dry weather in top producer Ivory Coast.
Published 03 Aug, 2004 12:00am
Syrian Embassy mission head visits IBP

Syrian Embassy mission head visits IBP

The head of the mission of the Syrian Embassy to Pakistan, Adnan Bernieh, visited the Institute of Bankers Pakistan (IBP) to explore possibilities of co-operation for professional development of human resources in banks and other sectors of economy in Syr
Published 03 Aug, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (August 02, 2004).
Published 03 Aug, 2004 12:00am
Eight directors named on FCS board

Eight directors named on FCS board

The Sindh government has nominated eight directors on the Board of Fishermen's Co-operative Society (FCS) for the period of three years.
Published 03 Aug, 2004 12:00am
Convict allowed appeal in Ehtesab case

Convict allowed appeal in Ehtesab case

An Appellate Bench of the Sindh High Court (SHC) for accountability courts comprising Justice Mohammad Mujeebullah Siddiqui and Justice Mohammad Afzal Soomro on Monday allowed an appeal preferred by convict Maqsood Ahmed in Thatta Cement Factory case.
Published 03 Aug, 2004 12:00am
Women MPs playing effective role in legislation: Shujaat

Women MPs playing effective role in legislation: Shujaat

A delegation of Pakistan Muslim League (Women Wing) led by MNA, Rehana Aleem Mashhadi called on Prime Minister, Chaudhry Shujaat Hussain at his residence on Monday and discussed with him reorganisation of PML women wing.
Published 03 Aug, 2004 12:00am
Proposals to train Islamic states' SMEs accepted

Proposals to train Islamic states' SMEs accepted

Islamic Chamber of Commerce and Industry (ICCI) has accepted the proposal put forward by the Small and Medium Enterprise Development Authority (Smeda) to impart training to Small and Medium Enterprises (SMEs) from different Islamic countries.
Published 03 Aug, 2004 12:00am
Panel set up for Exports Awards ceremony

Panel set up for Exports Awards ceremony

The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Riaz Ahmed Tata, has formed an organising committee under the chairmanship of Iftikhar Ali Malik for the 27th FPCCI Export Trophy Awards ceremony to be held on August 9
Published 03 Aug, 2004 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 03 Aug, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (August 02) and rates for Tuesday (August 03, 2004).
Published 03 Aug, 2004 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 03 Aug, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (August 02, 2004).
Published 03 Aug, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (August 02, 2004)
Published 03 Aug, 2004 12:00am
Bid on Khairi's life deplored

Bid on Khairi's life deplored

The PML (N) Central Vice President Mushahidullah Khan has expressed deep concern over murderous attack on prominent lawyer Habib Wahabul Khairi, and deplored the non-registration of his FIR by the concerned police station.
Published 03 Aug, 2004 12:00am
'Export trophy awards to restore investors' confidence'

'Export trophy awards to restore investors' confidence'

President, Sarhad Chamber of Commerce & Industry (SCCI) Adeel Rauf has expressed optimism that the winners of Sarhad Chamber's Businessmen of the Year Gold Medal and Export Trophy Award would help prove guarantee in bringing stability in the national econ
Published 03 Aug, 2004 12:00am
NCEL develops Zero Coupon Yield Curve

NCEL develops Zero Coupon Yield Curve

National Commodity Exchange Limited (NCEL) on Monday announced that it has developed a Zero Coupon Yield Curve (ZCYC) providing users a benchmark to assess market values of interest rates today or to value the future cash flows of assets currently on thei
Published 03 Aug, 2004 12:00am
Key stock market movements at 1700 GMT on August 02

Key stock market movements at 1700 GMT on August 02

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 03 Aug, 2004 12:00am
Trade Policy 2004-05: Sarhadi demands incentives for Afghan traders

Trade Policy 2004-05: Sarhadi demands incentives for Afghan traders

The Trade Policy for the financial year 2004-05 has disappointed Zia-ul-Haq Sarhadi, Chairman Frontier Customs Agents Group and Sarhad Chamber of Commerce & Industry (SCCI) Standing Committee on Railway Dry port, saying that the policy is not up to the ex
Published 03 Aug, 2004 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.
Published 03 Aug, 2004 12:00am
Treasury bills auction on August 4

Treasury bills auction on August 4

The State Bank has invited tenders for the sale of Treasury Bills on Wednesday and a huge target has been fixed for the auction ahead of big inflow of liquidity scheduled on Thursday.
Published 03 Aug, 2004 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.
Published 03 Aug, 2004 12:00am
Treasury bills auction on August 4

Treasury bills auction on August 4

The State Bank has invited tenders for the sale of Treasury Bills on Wednesday and a huge target has been fixed for the auction ahead of big inflow of liquidity scheduled on Thursday.
Published 03 Aug, 2004 12:00am
The Weather

The Weather

The weather report on Monday (August 02) and the forecast for Tuesday (August 03, 2004).
Published 03 Aug, 2004 12:00am
Uplift plans for Fata launched

Uplift plans for Fata launched

A comprehensive development plans envisaging an expenditure of Rs 7,843.968 million has been launched for implementation of a large number of development schemes in Fata during the current financial year.
Published 03 Aug, 2004 12:00am
PML-N welcomes Saudi stance on troops for Iraq

PML-N welcomes Saudi stance on troops for Iraq

The PML (N) on Monday welcomed Saudi Foreign Minister Saud al Faisal's announcement that troops from Islamic countries would not be sent to Iraq until foreign forces were withdrawn, and that the Islamic forces would not function under US command.
Published 03 Aug, 2004 12:00am
RCCI elections on September 15

RCCI elections on September 15

The fresh elections for the executive committee of the Rawalpindi Chamber of Commerce and Industry (RCCI) have been scheduled on September 15, while newly elected executive members will elect new president and other office bearers on September 20.
Published 03 Aug, 2004 12:00am
Automechanika fair from September 14

Automechanika fair from September 14

The Export Promotion Bureau (EPB) in league with Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) is holding official participation in "Automechanika-2004" the international leading trade fair for the automotive after market
Published 03 Aug, 2004 12:00am
Report on poverty submitted to Benazir

Report on poverty submitted to Benazir

The Pakistan People's Party (PPP) on Monday submitted a comprehensive report to party chairperson Ms Benazir Bhutto on ways and means to alleviate poverty.
Published 03 Aug, 2004 12:00am
UET entry test

UET entry test

Entry test for under graduate engineering programme of NWFP University of Engineering and Technology (UET) Peshawar (Academic year 2004-05) organised by ETEA (Educational Testing Evaluation Agency) will be held on August 10, 2004 at Qayyum Stadium, Peshaw
Published 03 Aug, 2004 12:00am
Anti-dumping laws suggested to protect local industry

Anti-dumping laws suggested to protect local industry

A wake-up call was given to the government to take measures against dumping of the goods by other countries to safeguard the local industry at a presentation meeting organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on
Published 03 Aug, 2004 12:00am
Lawyers to oppose amendment to Bar Council Act

Lawyers to oppose amendment to Bar Council Act

The president, Lahore High Court Bar Association (LHCBA), Ahmed Awais, and its other office-bearers said the lawyers community will oppose the proposed bill, amending Bar Council Act, and they will follow the directions and decisions of Joint Action Commi
Published 03 Aug, 2004 12:00am
Bidding to construct 5-star hotel in ICT deferred

Bidding to construct 5-star hotel in ICT deferred

Bidding for constructing a five-star hotel in Islamabad Capital Territory (ICT), which was scheduled for Monday, has been deferred indefinitely by the Capital Development Authority (CDA) as no party was interested in the deal, Business Recorder rel
Published 03 Aug, 2004 12:00am
Proposal under study to lift ban on Indian movies

Proposal under study to lift ban on Indian movies

Culture and Tourism Minister, Rais Munir Ahmad has said that proposal to withdraw ban on Indian movies would be discussed among different ministries and then be put before the cabinet.
Published 03 Aug, 2004 12:00am
Trade bodies condemn attack on Aziz

Trade bodies condemn attack on Aziz

Former FPCCI president and Guard Group Managing Director Iftikhar Ali Malik has condemned the suicidal attack on the life of Federal Finance Minister and Prime Minister in-waiting Shaukat Aziz.
Published 03 Aug, 2004 12:00am
Germany to extend technical assistance in energy sector

Germany to extend technical assistance in energy sector

Germany intends to transfer technological assistance and other support to Pakistan regarding renewable energy for bringing down power prices and meeting the rising demand here in future.
Published 03 Aug, 2004 12:00am
Wapda union's demand

Wapda union's demand

General Secretary Pakistan Wapda Hydro Electric Central Labour Union Khurshid Ahmed has demanded of Wapda chairman to stop application of the ordinance for removal of the 2,000 employees from service.
Published 03 Aug, 2004 12:00am
NIFT wins SNGPL contract

NIFT wins SNGPL contract

NIFT has been awarded a three-year utility bill processing contract by SNGPL. Under the terms of the contract, NIFT will process the utility bills collected at 2,100 points and will arrange credit in the SNGPL account within 24 hours, with full settlement
Published 03 Aug, 2004 12:00am
PEAS pilot project to be operational from August 14

PEAS pilot project to be operational from August 14

Punjab Emergency Ambulance Service (PEAS) pilot project would be made functional at Lahore on August 14 and after the success of pilot project, the PEAS project would be commenced at Rawalpindi, Multan, Faisalabad, Sialkot and Gujranwala.
Published 03 Aug, 2004 12:00am
Kashmiris briefed on talks: foreign office

Kashmiris briefed on talks: foreign office

The Foreign Office spokesman on Monday confirmed that Foreign Minister Khurshid Mahmood Kasuri and other officials have briefed the Kashmir government and political leaders on the on-going composite dialogue with India.
Published 03 Aug, 2004 12:00am
Ruling LCCI group omitted 385 members' names: Founders

Ruling LCCI group omitted 385 members' names: Founders

Chairman 'The Founders' Pervez Hanif has alleged that the ruling group in the Lahore Chamber of Commerce & Industry (LCCI) has unlawfully omitted the names of 385 associate members from the voters list.
Published 03 Aug, 2004 12:00am
Wapda chief visits Icchra sub-division

Wapda chief visits Icchra sub-division

Chairman Wapda Tariq Hamid paid a surprise visit to Ichhra sub-division on Monday and inspected the customer service center there.
Published 03 Aug, 2004 12:00am
Apcea welcomes WTO accord on eliminating farm subsidies

Apcea welcomes WTO accord on eliminating farm subsidies

Elimination of farm subsidies on cotton by industrialised countries as also textile quota phase-out would usher in vast opportunities for Pakistan textile exports in the new global trade regime, said Ahmad Kamal, Chairman of All Pakistan Cloth Exporters A
Published 03 Aug, 2004 12:00am
Pakistan and China to launch Youyi on August 3

Pakistan and China to launch Youyi on August 3

Armed forces of Pakistan and China are launching first ever anti-terrorism military exercise with the code-name Youyi (Friendship)-2004 from Tuesday, which will last for four days.
Published 03 Aug, 2004 12:00am
Incentives for overseas Pakistanis for investment

Incentives for overseas Pakistanis for investment

The role of overseas Pakistanis has been recognised in the Federal budget 2004-05 as the government has announced many incentives for persuading them to make investment and has relaxed baggage rules allowing them import of electric gadgets and vehicles.
Published 03 Aug, 2004 12:00am
Sindh chief minister warns against unfair Zakat distribution

Sindh chief minister warns against unfair Zakat distribution

Sindh Chief Minister Dr Arbab Ghulam Rahim has made it clear that the government will not tolerate any injustice in distribution of Zakat fund and will ensure its disbursement to truly deserving persons of the province.
Published 03 Aug, 2004 12:00am
Bepza seeks EPB co-operation for investment in Bangladesh

Bepza seeks EPB co-operation for investment in Bangladesh

With a view to providing more information about the present investment climate in Bangladesh, the Bangladesh Export Promotion Zones Authorities (Bepza) has formally approached the Export Promotion Board (EPB) of Pakistan and sought EPB's co-operation to a
Published 03 Aug, 2004 12:00am
Geelani re-appointed APHC chief

Geelani re-appointed APHC chief

Syed Ali Geelani was re-appointed on Monday as head of the All Parties Hurriyat Conference (APHC), as efforts got under way to ease a split among leaders opposed to Indian occupation of the Valley.
Published 03 Aug, 2004 12:00am
Amjad Farooqi not among killed dacoits

Amjad Farooqi not among killed dacoits

The Ministry of Interior has declared that Amjad Farooqi was not among those four dacoits who were killed in police encounter in Dera Ghazi Khan last month as the report of DNA tests of Amjad Farooqi's father and brother revealed.
Published 03 Aug, 2004 12:00am
Arrest of Mehr sardars: Sindh police refuse to co-operate with Punjab

Arrest of Mehr sardars: Sindh police refuse to co-operate with Punjab

Sindh police flatly refused to co-operate with Punjab police in apprehending Mehr sardars who were allegedly involved in cutting the ears and nose of a boy and torturing the entire family of poor farmers who had been serving as land serfs for the last 60
Published 03 Aug, 2004 12:00am
17-year rigorous imprisonment for chopping nose

17-year rigorous imprisonment for chopping nose

Civil Judge Ist Class/ Magistrate Section 30 Lodhran awarded 17 years rigorous imprisonment and fined Rs 10,000 to Zafar Joiya of Moza Khanpur on charge of cutting the nose of his close relative Zakia Bibi in 2002 when she reprimanded him for molesting he
Published 03 Aug, 2004 12:00am
Farmers hail WTO agreement on farm subsidies

Farmers hail WTO agreement on farm subsidies

Farmers organisations have hailed the agreement reached between the affluent West and the developing countries on the issue of farm subsidies under WTO umbrella.
Published 03 Aug, 2004 12:00am
Qayyum condemns attack on Shaukat

Qayyum condemns attack on Shaukat

Former Azad Jammu and Kashmir (AJK) president and prime minister Sardar Mohammad Ahdul Qayyum Khan has strongly condemned the terrorist attack on Finance Minister Shaukat Aziz in Fatehjang on Friday last.
Published 03 Aug, 2004 12:00am
Three die as rickshaw falls into canal

Three die as rickshaw falls into canal

As many as three persons of a family, including one child, were killed when an auto-rickshaw plunged into Thul Canal here on Monday.
Published 03 Aug, 2004 12:00am
Victory of commonsense

Victory of commonsense

What was lost in Cancun, Mexico, in September 2003, has, by all indications, been recouped in Geneva, Switzerland, in the closing hours of July, 2004. While everything was left hanging in the air in Cancun, the crucial talks in Geneva concluded on a very
Published 03 Aug, 2004 12:00am
A different terrorist attack in Balochistan

A different terrorist attack in Balochistan

The killing of five soldiers and a civilian near the garrison city of Khuzdar in Balochistan, on Sunday (July 1), by unidentified gunmen on motorbikes who fled the scene leaving another two, including a soldier, injured, will leave little to doubt about t
Published 03 Aug, 2004 12:00am
Banks - is your security really secure?

Banks - is your security really secure?

The Pakistan Companies Ordinance, 1984 provides that in a winding up, preferential debts will have priority over those secured by a floating charge.
Published 03 Aug, 2004 12:00am
UAE experts fight to save earliest mosques

UAE experts fight to save earliest mosques

The Gulf state of the United Arab Emirates has a battle on its hands to protect some of Islam's earliest mosques from greedy property developers and over zealous restorers.
Published 03 Aug, 2004 12:00am
Musharraf's pledge

Musharraf's pledge

Pakistan's President General Pervez Musharraf once highlighted the importance of the Pakistan army by stating that the "defence of the motherland is the foremost responsibility of the armed forces".
Published 03 Aug, 2004 12:00am