News Archives for Print - 2004-08-03

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Print - 2004-08-03

Tea prices mixed on Jodia Bazar

Changes were a few on the Jodia Bazar as trading was low on Monday (August 02, 2004).

Published 03 Aug, 2004 12:00am

Wheat and sugar up on grain market

Sporadic changes were on the seed and grain wholesale markets on Monday (August 02, 2004).

Published 03 Aug, 2004 12:00am

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'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'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

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 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 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

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

South Korean groups buy feed wheat privately

South Korean feed makers has bought a total of 70,000 tonnes of feed wheat since mid July, traders said on Monday.

Published 03 Aug, 2004 12:00am

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 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

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

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 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 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

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

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 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 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

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

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

South Korea's Nonghyup buys 52,500 tonnes corn: traders

South Korea's Nonghyup Feed Inc has bought a total of 52,500 tonnes of optional-origin corn from Cargill in private talks, traders said on Monday.

Published 03 Aug, 2004 12:00am

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

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

Weak dollar lifts Asian gold, platinum shines

Gold reasserted its safe-haven status and rose about $2 in Asia on Monday after the dollar weakened against the euro in reaction to a warning of possible al Qaeda attacks on key buildings in the United States.

Published 03 Aug, 2004 12:00am

Malaysian tin down $10 per tonne on light selling

Tin fell $10 a tonne in Malaysian trade on Monday on light selling sparked by a drop in the metal's value in London.

Published 03 Aug, 2004 12:00am

Manila rejects bids for 80,000 tonnes sugar

Philippine sugar millers and planters on Monday rejected bids for up to 80,000 tonnes of raw sugar for August/December export due to low prices, an industry official said.

Published 03 Aug, 2004 12:00am

Malaysian palm oil down

Malaysian crude palm oil futures ended down on Monday after a slump in rival Chicago soya made players ignore better-than-anticipated exports of palm oil in July.

Published 03 Aug, 2004 12:00am

Nippon copper prices

Nippon Mining and Metals Co Ltd, Japan's biggest copper smelter, said on Monday it had raised its selling price for copper by 10,000 yen a tonne to 370,000 yen ($3,330) reflecting strong prices on the LME.

Published 03 Aug, 2004 12:00am

Singulus second-quarter profit drops 29 percent

Singulus, the world's biggest maker of CD and DVD machinery, made a smaller operating profit in the second quarter as it continued to rely on low-margin CD equipment for much of its revenue, it said on Monday.

Published 03 Aug, 2004 12:00am

Singulus second-quarter profit drops 29 percent

Published 03 Aug, 2004 12:00am

General Electric unit to buy Hyundai Capital stake for $371 million

General Electric Co's financing unit said on Monday it would buy a $371 million stake in Hyundai Motor Co's ailing financial arm to expand into South Korea's $8.6 billion auto financing market.

Published 03 Aug, 2004 12:00am

DHL sees rise in Asia-Pacific market share

Global courier giant DHL unit said on Monday it expected its expand its 40 percent share of the Asia-Pacific express courier market by one-to-two percentage points in the next few years, fuelled by growth in China.

Published 03 Aug, 2004 12:00am

DHL sees rise in Asia-Pacific market share

Published 03 Aug, 2004 12:00am

South Korean minister orders steps to counter oil prices

South Korea's finance minister ordered senior ministry officials on Monday to draw up tougher measures to counter the effect of surging international oil prices, his spokesman told reporters.

Published 03 Aug, 2004 12:00am

Moody's says credit outlook for Japanese firms is positive

Credit rating agency Moody's Investors Service said Monday that its rating outlook for Japanese companies is generally positive on expectations that their credit quality will continue to improve for the time being.

Published 03 Aug, 2004 12:00am

Moody's says credit outlook for Japanese firms is positive

Published 03 Aug, 2004 12:00am

Maruti July vehicle sales up 4 percent on year

India's biggest car maker, Maruti Udyog Ltd, reported a modest rise in July vehicle sales on Monday, as a 38 percent drop in exports blunted a 10 percent jump in domestic sales.

Published 03 Aug, 2004 12:00am

Indian interest rates seen stable, rains play truant

India's central bank is likely to keep interest rates unchanged at 30-year lows over the next six months to help sustain an economy at risk from insufficient monsoon rains, analysts say.

Published 03 Aug, 2004 12:00am

Citibank to boost Hong Kong front-line staff by 40 percent

Citigroup's Citibank unit in Hong Kong plans to hire 40 percent more front-line staff for its retail banking business this year as it moves to boost its presence in the city, an executive said on Monday.

Published 03 Aug, 2004 12:00am

Malaysian import growth seen nearing peak

Malaysian imports raced ahead by 27.5 percent through the year through June, a Reuters poll showed, but the pace is likely to drop off as the drivers of this surge in imports, the country's exporters, slow down.

Published 03 Aug, 2004 12:00am

UFJ rejects merger offer from SMFG

Japan's fourth biggest banking group UFJ Holdings Inc said Monday it had formally declined a merger offer from Sumitomo Mitsui Financial Group Inc (SMFG).

Published 03 Aug, 2004 12:00am

Kuwait and Iraq form joint oil committee

Visiting Iraqi Oil Minister Thamir Ghadhban said Iraq has formed a joint oil committee with former foe Kuwait to develop strategic co-operation in energy-related fields between the neighbouring states.

Published 03 Aug, 2004 12:00am

Bidding war hopes boost UK bank Abbey's shares

The prospect of a battle for British bank Abbey National spurred its shares on Monday after rival HBOS said it was considering challenging Spain's Santander Central Hispano's offer for the mortgage lender.

Published 03 Aug, 2004 12:00am

Bidding war hopes boost UK bank Abbey's shares

Published 03 Aug, 2004 12:00am

Former Canadian Premier steps into Yukos dispute

Former Canadian prime minister Jean Chretien was reportedly involved Monday in negotiating a deal between the Russian government and the beleaguered oil giant Yukos to save it from bankruptcy from disputed tax bills.

Published 03 Aug, 2004 12:00am

WTO deal draws mixed response in Asia

Asian business and lobby groups on Monday welcomed a deal by rich and poor nations to move forward on slashing farm subsidies and opening industrial markets but warned the devil was in the details.

Published 03 Aug, 2004 12:00am

P&G quarterly profit jumps

Procter & Gamble Co on Monday posted a 44 percent rise in quarterly profit from a year earlier when it took restructuring charges, and also said it expects double-digit earnings growth for the fiscal year that began last month, sending its shares higher.

Published 03 Aug, 2004 12:00am

P&G quarterly profit jumps

Published 03 Aug, 2004 12:00am

EU claims victory from world trade pact

The EU on Monday claimed victory from the landmark world trade pact, underlining that it would not have to cut agricultural spending for a decade and that Washington faced a bigger task unravelling its farm subsidies.

Published 03 Aug, 2004 12:00am

HSBC, BNP and ABN Amro second-quarter profits beat expectations

Three of Europe's largest banks, HSBC, ABN Amro and BNP Paribas, posted better-than-expected second-quarter profits on Monday, helped by lower loan provisions and growth in retail and consumer banking.

Published 03 Aug, 2004 12:00am

HSBC, BNP and ABN Amro second-quarter profits beat expectations

Published 03 Aug, 2004 12:00am

General Motors plans more jobs cuts in Europe

The world's largest auto-maker, General Motors, said Monday it planned further job cuts in Europe as part of a radical overhaul of its business on the continent.

Published 03 Aug, 2004 12:00am

Global PMI shows stronger growth in July

The global manufacturing sector expanded at a faster pace in July, an indicator based on national surveys of manufacturers showed on Monday. The global purchasing managers' index (PMI), produced by J.P. Morgan together with research and supply management

Published 03 Aug, 2004 12:00am

US factories strong in July, construction slips

US manufacturing expanded further in July, fuelling more hiring, but outlays for US construction fell unexpectedly in June to hint at a slowing of the housing boom, reports released on Monday showed.

Published 03 Aug, 2004 12:00am

UK factory growth at 10-year high

British manufacturing raced ahead in July at its fastest pace in a decade as domestic and foreign new orders surged, a report showed on Monday as the Bank of England appears set to raise interest rates again this week.

Published 03 Aug, 2004 12:00am

World Bank approves $145 million aid package for Afghanistan

The World Bank on Monday unveiled a 145 million dollar aid package to Afghanistan to support reconstruction in the war-wracked country.

Published 03 Aug, 2004 12:00am

New Zealand shares dip

The New Zealand share market eased on Monday, as weaker top-10 stocks, lead by Telecom, pulled the market from the previous week's record high.

Published 03 Aug, 2004 12:00am

Energy stocks lift Australian market to close firmer

Australian stocks rose 0.25 percent on Monday to their best level in nearly three weeks, buoyed by the energy sector as oil prices reached fresh highs and a further rebound in banking stocks.

Published 03 Aug, 2004 12:00am

Malaysian shares close at one-month low

Malaysian shares followed key regional bourses lower on Monday, touching a one-month low before some of its biggest blue chips trimmed losses, with investors unnerved by rocketing oil prices and security fears.

Published 03 Aug, 2004 12:00am

Taiwan stocks fall 1.29 percent on oil prices and techs tumble

Taiwan stocks fell over 1 percent on Monday as rising oil prices touched off profit-taking on memory chip and display screen makers after sharp gains that had been spurred by upbeat forecasts from heavyweight TSMC.

Published 03 Aug, 2004 12:00am

Hong Kong stocks finish lower on security fears

Hong Kong stocks ended down 0.30 percent on Monday as fresh global security threats and rising oil prices rattled investor confidence.

Published 03 Aug, 2004 12:00am

Singapore shares sag on oil price worries

Singapore share prices closed down 0.23 percent on Monday on concerns record high oil prices will harm the city-state's economic prospects, dealers said.

Published 03 Aug, 2004 12:00am

Indian shares scale 11-week peak

Indian shares rose for a third straight day on Monday, enthused by forecasts of better rains, while the rupee appreciated on back of a weaker dollar and expectations of inflows towards a high-profile share offering.

Published 03 Aug, 2004 12:00am

Steel stocks pull Chinese shares down by close

China shares closed down nearly one percent on Monday, as steel counters extended losses amid lingering fears over Beijing's economic-cooling steps and persistent talk of a giant stock offer by PetroChina.

Published 03 Aug, 2004 12:00am

Philippines stocks decline as Meralco slides

Manila stocks back pedalled on Monday, dragged lower by further heavy falls in shares of power distributor Manila Electric Co (Meralco) and weak regional sentiment due to security fears.

Published 03 Aug, 2004 12:00am

Seoul stocks stumble on oil price woes

Seoul shares fell more than 2 percent on Monday to end at a 10-month closing low, as concerns about the impact of record high oil prices on a fragile economic recovery curbed investors' appetite for local stocks.

Published 03 Aug, 2004 12:00am

Sri Lankan stocks make gains

Sri Lankan stocks rose to a new life high on Monday as retail investors bought small stocks, despite poor institutional interest in blue chips, brokers said.

Published 03 Aug, 2004 12:00am

Jakarta stocks plunge on weak rupiah

Jakarta shares finished lower on Monday weighed down by the weak rupiah currency and soaring global oil prices.

Published 03 Aug, 2004 12:00am

Tokyo stocks slip, US economy worries hit exporters

Tokyo's Nikkei average ended down 0.91 percent on Monday as investors unloaded exporters after renewed security concerns and higher oil prices cast a shadow over the outlook for the US economy and stock market.

Published 03 Aug, 2004 12:00am

Bangladeshi taka eases slightly

The Bangladesh taka eased slightly on Monday as banks bought dollars for import related payments, dealers said.

Published 03 Aug, 2004 12:00am

Indian rupee bounces as dollar slips globally

The Indian rupee appreciated by 0.22 percent on Monday, helped by a weak trend in the dollar overseas, sparked by security concerns and last week's disappointing US economic data.

Published 03 Aug, 2004 12:00am

Swiss franc rises against US dollar

The Swiss franc firmed against the dollar and the euro in early trade on Monday after security warnings from the United States and after Swiss data on Friday signalled continued robust growth ahead for the Alpine economy.

Published 03 Aug, 2004 12:00am

Dollar falters on attack warning, soft US GDP

The dollar eased a touch against major currencies on Monday following a warning that al Qaeda may attack key buildings including the New York Stock Exchange and weaker-than-expected US economic growth figures.

Published 03 Aug, 2004 12:00am

Asian currencies stronger, but oil limits gains

Asian currencies strengthened on Monday as the US dollar lost some of its bullishness on security and growth concerns, but the region's own worries and rising oil prices meant gains were limited.

Published 03 Aug, 2004 12:00am

Australian dollar holds above 70 cents

The Australian dollar held above the 70 US cent mark on Monday, but slipped below the day's high after retail sales data failed to live up to expectations, giving no reason for a surprise interest rate hike this week.

Published 03 Aug, 2004 12:00am

Hong Kong dollar off morning lows

The Hong Kong dollar pulled back from a morning low to trade a shade firmer on Monday afternoon, after renewed security fears knocked US dollar sentiment.

Published 03 Aug, 2004 12:00am

Chinese yuan ends unchanged

The yuan ended unchanged at 8.2770 per US dollar on Monday, near the stronger end of its managed trading range.

Published 03 Aug, 2004 12:00am

Challenges remain after Germany-Poland reconciliation move

Chancellor Gerhard Schroeder opened a new chapter in German reconciliation with Poland at weekend commemorations of the doomed World War II Warsaw uprising against the Nazis, but a row over reparations is far from over Polish politicians and media said on

Published 03 Aug, 2004 12:00am

US set to shift 3,600 troops to Iraq from South Korea

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 13	277.93
USD PKR Interbank Buying / Nov 13	277.83
USD to Japanese Yen / Nov 13	154.04
USD to Swiss Franc / Nov 13	0.89
Pound Sterling to USD / Nov 13	1.27
Euro to USD / Nov 13	1.05

Stock	Volume
S&P 500 / Nov 13	5,985.38
India Sensex / Nov 13	77,690.95
Tokyo Nikkei / Nov 13	38,749.93
Nasdaq / Nov 13	19,230.72
Hang Seng / Nov 13	19,649.91
FTSE 100 / Nov 13	8,030.33
Dow Jones / Nov 13	43,958.19
Germany DAX 30 / Nov 13	19,003.11

Item	Value
Gold 10 Grams PKR / Nov 12	231,911
Crude Oil USD/Barrel / Nov 13	68.13
Karachi Cotton PKR/37.32 KG / Nov 13	18,085
Gold Spot USD/Ounce / Nov 13	2,561.88
Cotton US¢/pound / Nov 13	71.16
Petrol/Litre / Nov 14	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▼ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▼ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▼ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▲ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▲ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▲ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 14 Worldcall Telecom Limited(WTL)	43,291,848 ▲ 0.00
Waves Home Appliances / Nov 14 Waves Home Appliances Limited(WAVESAPP)	33,201,636 ▲ 0.00
Pak Refinery / Nov 14 Pakistan Refinery Limited(PRL)	31,524,926 ▲ 0.00
K-Electric Ltd. / Nov 14 K-Electric Limited(KEL)	27,455,465 ▲ 0.00
Pak Elektron / Nov 14 Pak Elektron Limited(PAEL)	26,996,630 ▲ 0.00
Sui South Gas / Nov 14 Sui Southern Gas Company Limited(SSGC)	26,013,918 ▲ 0.00
The Searle Co. / Nov 14 The Searle Company Limited(SEARL)	25,704,933 ▲ 0.00
Pak Int.Bulk / Nov 14 Pakistan International Bulk Terminal(PIBTL)	23,694,836 ▲ 0.00
Secure Logistics / Nov 14 Secure Logistics Group Limited(SLGL)	23,623,241 ▲ 0.00

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