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Print - 2004-09-22
Sterling gains ground versus dollar

Sterling gains ground versus dollar

Sterling gained some ground against the retreating dollar on Tuesday as investors sold the US currency ahead of the Federal Reserve's interest rate decision.
Published 22 Sep, 2004 12:00am
Dollar slips across the board

Dollar slips across the board

The dollar slipped across the board on Tuesday as markets waited nervously for an expected interest rate hike by the US central bank and its signals on the future pace of monetary tightening later in the day.
Published 22 Sep, 2004 12:00am
Swiss franc inches lower

Swiss franc inches lower

The Swiss franc edged lower against the US dollar and the euro in early European trade on Tuesday, amid expectations the Federal Reserve would raise key US interest rates by a quarter point later in the session.
Published 22 Sep, 2004 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks edged barely higher in early Tuesday afternoon trading as investors anticipated the Federal Reserve would stay on its course of only "measured" interest-rate increases.
Published 22 Sep, 2004 12:00am
Seoul shares end flat

Seoul shares end flat

Seoul stocks finished flat on Tuesday, as gains in chip makers such as Samsung Electronics were offset by concerns about weakening corporate earnings momentum in the third quarter.
Published 22 Sep, 2004 12:00am
Wal-Mart plans 1 billion sterling bond

Wal-Mart plans 1 billion sterling bond

European corporate bonds ended Tuesday with a slightly softer tone with the main focus on the primary market where several new bonds were due, among them a 1 billion sterling 31-year issue from US retailer Wal-Mart.
Published 22 Sep, 2004 12:00am
Wal-Mart plans 1 billion sterling bond

Wal-Mart plans 1 billion sterling bond

European corporate bonds ended Tuesday with a slightly softer tone with the main focus on the primary market where several new bonds were due, among them a 1 billion sterling 31-year issue from US retailer Wal-Mart.
Published 22 Sep, 2004 12:00am
Britain's top share index spikes to 26-month record

Britain's top share index spikes to 26-month record

Britain's FTSE 100 spiked to a fresh 26-month record on Tuesday, with oil shares in the ascendant on the eve of a major strategy presentation by oil company Shell and Tesco leading the pack.
Published 22 Sep, 2004 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 22 Sep, 2004 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 22 Sep, 2004 12:00am
Vietnam selects bank for London coffee trade plans

Vietnam selects bank for London coffee trade plans

Vietnam's central bank has approved a bank to act as a bridge for financial arrangements with local coffee exporters, paving the way for trading directly on London's robusta coffee futures.
Published 22 Sep, 2004 12:00am
London cocoa firmer

London cocoa firmer

London cocoa ended steady on Tuesday after mainly structural and speculative activity as the market continued to keep an eye on sterling's value against the dollar, dealers said.
Published 22 Sep, 2004 12:00am
Brazil to control one-third of world poultry trade

Brazil to control one-third of world poultry trade

Brazil should end 2004 with one-third of the world's poultry market, estimated at about 6 million tonnes, after bird flu ravaged Asian producers earlier this year, a Rabobank sector specialist said.
Published 22 Sep, 2004 12:00am
Gold prices rise in Europe, platinum strong

Gold prices rise in Europe, platinum strong

Gold zipped higher in Europe on Tuesday, lifted by a stronger euro, as the market braced for an expected increase in US interest rates, while platinum picked up sharply on Asian buying amid supply worries, dealers said.
Published 22 Sep, 2004 12:00am
London sugar futures recover by close

London sugar futures recover by close

London December white sugar closed firmer on Tuesday after recovering from fund and speculator selling which dragged the market down to a three-month low of $229.1 on losses in New York, traders said.
Published 22 Sep, 2004 12:00am
New York cotton rebounds to firm close

New York cotton rebounds to firm close

NYBOT cotton futures banked on trade and fund buying to finish higher Tuesday as the market rebounded from a fall to a one-month low due to a record US crop, analysts said.
Published 22 Sep, 2004 12:00am
Paraguay's upcoming soya crop could suffer setbacks

Paraguay's upcoming soya crop could suffer setbacks

Paraguayan soyabean farmers are leery of falling prices, dry soils and rowdy peasant protests just weeks before they plant the 2004/05 crop, the leader of an export group said late on Monday.
Published 22 Sep, 2004 12:00am
Oil hits $47 as supply worries linger

Oil hits $47 as supply worries linger

Oil prices hit a one month-high of $47 a barrel on Tuesday as China showed no let-up in its strong import growth and traders worried that US petroleum inventories had drawn down heavily due to Hurricane Ivan. Supply worries were underpinned by concerns ab
Published 22 Sep, 2004 12:00am
Oil hits $47 as supply worries linger

Oil hits $47 as supply worries linger

Oil prices hit a one month-high of $47 a barrel on Tuesday as China showed no let-up in its strong import growth and traders worried that US petroleum inventories had drawn down heavily due to Hurricane Ivan. Supply worries were underpinned by concerns ab
Published 22 Sep, 2004 12:00am
US MIDDAY: cocoa extends gains on fundamental news

US MIDDAY: cocoa extends gains on fundamental news

Cocoa futures rose for the third straight session Tuesday, with prices creeping close to the top end of a trading range that has held for more than a week on a dearth of fundamental news, traders said.
Published 22 Sep, 2004 12:00am
US MIDDAY: coffee rallies on follow-through buying

US MIDDAY: coffee rallies on follow-through buying

Arabica coffee futures rallied more than 2 percent to extend a three-month high as funds and roasters engaged in follow-through buying on crop worries in top grower Brazil, traders and analysts said.
Published 22 Sep, 2004 12:00am
US MIDDAY: sugar firmer on trade buying

US MIDDAY: sugar firmer on trade buying

NYBOT raw sugar futures banked on trade buying to finish higher Tuesday, with business seen staying volatile in the run-up to expiration of the spot October contract next week, brokers said.
Published 22 Sep, 2004 12:00am
US MIDDAY: wheat higher on buying

US MIDDAY: wheat higher on buying

Soft red winter (SRW) wheat futures at the Chicago Board of Trade turned higher early on Tuesday on buying of calls in the wheat options pit, traders said.
Published 22 Sep, 2004 12:00am
US MIDDAY: corn range-bound on harvest pressure

US MIDDAY: corn range-bound on harvest pressure

Chicago Board of Trade corn futures were range-bound by mid-morning Tuesday after a lower open on harvest pressure, with new-crop December hitting a contract low for the eighth straight session, traders said.
Published 22 Sep, 2004 12:00am
US MIDDAY: copper near contract highs

US MIDDAY: copper near contract highs

Copper futures were probing fresh contract and five-month highs on Tuesday morning, as fund and chart-based buying extended a recent rally in the face of low metal inventories.
Published 22 Sep, 2004 12:00am
US MIDDAY: gold rises on Fed decision

US MIDDAY: gold rises on Fed decision

COMEX gold shot to its highest price in 20 days at the open Tuesday, catching some traders wrong-footed as they awaited a Federal Reserve decision on interest rates in the afternoon.
Published 22 Sep, 2004 12:00am
Cotton pest under control

Cotton pest under control

Overall cotton crop situation in various areas of the Punjab province is satisfactory, a press release said here on Tuesday.
Published 22 Sep, 2004 12:00am
Good cotton harvest expected: officials

Good cotton harvest expected: officials

A meeting chaired by Secretary Agriculture Punjab, Arif Nadeem, was held in the office of Cotton Botanist, Multan, to review the cotton crop situation in the province.
Published 22 Sep, 2004 12:00am
Environment good for investment: Brosch

Environment good for investment: Brosch

The environment for investment in Pakistan is good. This was stated by head of the visiting trade mission from Britain Micheal Brosch.
Published 22 Sep, 2004 12:00am
Naimat submits report to SLGC on 'Americano'

Naimat submits report to SLGC on 'Americano'

City Nazim Naimatullah Khan has submitted a comprehensive report with Director General, Sindh Local Government Commission (SLGC) about the alleged disposal of City District Government Karachi (CDGK)'s property commonly known as "Americano".
Published 22 Sep, 2004 12:00am
New vision, ideas introduced in chamber: SCCI chief

New vision, ideas introduced in chamber: SCCI chief

Sarhad Chamber of Commerce and Industry (SCCI) President Adeel Rauf has said that he has given a new vision to the Sarhad Chamber during his tenure as president and had introduced new targets and ideas for the protection of the interest of business commun
Published 22 Sep, 2004 12:00am
Maulana Inayat's death condoled

Maulana Inayat's death condoled

Acting President, Mohammedmian Soomro has expressed his deep sense of shock and grief over the sad demise of a seasoned parliamentarian, a religious scholar and a sitting member of the National Assembly Maulana Inayat-ur-Rehman.
Published 22 Sep, 2004 12:00am
Musharraf and Bush to discuss war on terrorism, aid package

Musharraf and Bush to discuss war on terrorism, aid package

President General Pervez Musharraf has said, in his meeting with President George Bush scheduled for September 22, he would discuss and review ongoing war on terrorism, the US assistance package, besides bilateral ties and regional and international relat
Published 22 Sep, 2004 12:00am
PIA shares

PIA shares

An expatriate like me was duped to invest in shares offered by PIAC. The shares were valued at around Rs 23, when they were offered for sale to the public.
Published 22 Sep, 2004 12:00am
Fake housing societies

Fake housing societies

The government banned publicity and sale of plots by housing societies in Islamabad Capital territory that have not been cleared to save the people from being looted and plundered by plot mafia.
Published 22 Sep, 2004 12:00am
China's textiles, new market for fashion

China's textiles, new market for fashion

Exception de Mixmind, Jefen, Farina.Z. Mention these brands overseas, or even in China, and few people would recognise they are creations of the country's top fashion designers.
Published 22 Sep, 2004 12:00am
Safety culture for shipping industry

Safety culture for shipping industry

The flag of convenience (FOC) system is offered by some 29 maritime flags namely Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, Bolivia, Burma(Myanmar), Cambodia, Cayman Islands, Comoros, Cyprus, Equatorial Guinea, Germany (Second Register) , Gi
Published 22 Sep, 2004 12:00am
Iran's predicament

Iran's predicament

As expected, Iran has responded angrily to the resolution adopted by the International Atomic Energy Agency (IAEA) on Saturday, which called on the country to immediately halt its uranium enrichment programme, also setting a November 25 deadline for a ful
Published 22 Sep, 2004 12:00am
The role of Tax Ombudsman

The role of Tax Ombudsman

In an exclusive interview with Business Recorder on the completion of his four-year tenure as Federal Tax Ombudsman, Justice Saleem Akhtar (retd) expressed his satisfaction over the process of change for the better in the mindset of the various tax
Published 22 Sep, 2004 12:00am
Emirates Sky to start dedicated cargo service

Emirates Sky to start dedicated cargo service

Emirates Sky Cargo has announced that it is set to start offering dedicated cargo freighter services to Lahore, the second largest city and industrial center in Pakistan and Johannesburg, South Africa's commercial capital.
Published 22 Sep, 2004 12:00am
Saari through the ages

Saari through the ages

For centuries people have draped fabric around themselves. The Greeks, the Romans, the Buddhists, the Egyptians and the women of the Sub-continent are all part of the Saari mythology.
Published 22 Sep, 2004 12:00am
Progressive Group sweeps QCCI polls

Progressive Group sweeps QCCI polls

Progressive Group led by Sardar Muhammad Ali Jogezai has swept annual election of all the eight seats of the executive committee, Quetta Chamber of Commerce and Industry (QCCI) for the year 2004-05.
Published 22 Sep, 2004 12:00am
42 companies in NWFP opt for easy exit scheme

42 companies in NWFP opt for easy exit scheme

Company registration office of the Securities and Exchange Commission of Pakistan (SECP) has received 42 applications of seizure during the current financial year through easy exit scheme to wind up their businesses.
Published 22 Sep, 2004 12:00am
FPCCI greets new RCCI president

FPCCI greets new RCCI president

Sohail Altaf Khan, Vice President and Zonal Chairman, Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has felicitated Najam Rehan, for his election as President of Rawalpindi Chamber of Commerce and Industry (RCCI) and expressed hope that
Published 22 Sep, 2004 12:00am
Terrorists fire at Levies

Terrorists fire at Levies

Tribal terrorists fired upon Levies post near Kohlu, Marri tribal territory, causing damage to the building.
Published 22 Sep, 2004 12:00am
IUG support to BMA in KCCI polls denied

IUG support to BMA in KCCI polls denied

Shahid Nawab, a prominent businessmen and member of the Independent Urdu Group (IUG) in the elections of Karachi Chambers of Commerce and Industry elections (KCCI) has denied his support to the BMA group.
Published 22 Sep, 2004 12:00am
AJK Prime Minister calls on Elahi

AJK Prime Minister calls on Elahi

Prime Minister Azad Jammu and Kashmir, Sardar Sikander Hayat Khan called on Punjab Chief Minister Chaudhry Pervaiz Elahi here on Monday.
Published 22 Sep, 2004 12:00am
Najam elected RCCI president

Najam elected RCCI president

Najam Rehan a businessman of General Trading, has been elected as new President of Rawalpindi Chamber of Commerce and Industry (RCCI), for the year 2004-05, while Jalil Ahmed Malik and Asad Haider Mashadi were elected as senior vice president and vice pre
Published 22 Sep, 2004 12:00am
Devolution of power in Fata discussed

Devolution of power in Fata discussed

A high-level meeting chaired by the NWFP Governor Lieutenant General Syed Iftikhar Hussain Shah (Retd) here at Governor's House on Tuesday discussed proposals regarding devolution of power plan in Fata and restructuring of various line departments at the
Published 22 Sep, 2004 12:00am
Petitions against transport franchise policy put off

Petitions against transport franchise policy put off

A three-member bench of the Supreme Court of Pakistan on Tuesday adjourned petitions against the franchised policy of the Punjab government regarding transport system in various cities of the province.
Published 22 Sep, 2004 12:00am
World Investment Report 2004 being released on September 22

World Investment Report 2004 being released on September 22

Waseem Haqqie, Chairman, Board of Investment, on Wednesday will launch the UNCTAD's World Investment Report 2004 in Pakistan. The United Nations Conference on Trade and Development (UNCTAD), which serves as the focal point with the United Nations Secretar
Published 22 Sep, 2004 12:00am
The Weather

The Weather

The weather report on Tuesday (September 21) and the forecast for Wednesday (September 22, 2004).
Published 22 Sep, 2004 12:00am
Kalat by-poll schedule announced

Kalat by-poll schedule announced

Chief Election Commissioner (CEO) former Chief Justice Irshad Hassan Khan has given the schedule of by-election calling upon members of union councils in Kalat tehsil, Kalat district to elect Nazim.
Published 22 Sep, 2004 12:00am
Key stock market movements at 1700 GMT on September 20

Key stock market movements at 1700 GMT on September 20

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 22 Sep, 2004 12:00am
FWB holds 15th annual conference

FWB holds 15th annual conference

The 15th annual conference of First Women Bank Ltd was held on Monday at a local hotel. The conference was chaired by the President First Women Bank Ltd. Ms. Zarine Aziz.
Published 22 Sep, 2004 12:00am
PHCBA condemns military operation in Wana

PHCBA condemns military operation in Wana

The Peshawar High Court Bar Association (PHCBA) on Tuesday while debating its Inquiry Commission Report on Wana strongly condemned military operation in South Waziristan Agency and feared it would create hate against the armed forces if it was not stopped
Published 22 Sep, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (September 21, 2004).
Published 22 Sep, 2004 12:00am
Ghani calls on Shaukat

Ghani calls on Shaukat

Balochistan Governor Owais Ahmad Ghani called on Prime Minister Shaukat Aziz at the Prime Minister's secretariat here on Tuesday.
Published 22 Sep, 2004 12:00am
Quetta carnage mastermind held

Quetta carnage mastermind held

Police said on Tuesday they have detained a gang of terrorists trained in Afghanistan and suspected of involvement in sectarian violence.
Published 22 Sep, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (September 21, 2004).
Published 22 Sep, 2004 12:00am
Shaukat hails EU report on Indian occupied Kashmir

Shaukat hails EU report on Indian occupied Kashmir

Prime Minister Shaukat Aziz on Tuesday appreciating the report prepared by the European Union on Kashmir issue, said that the European Parliament's report will be a great help in resolving the issue.
Published 22 Sep, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (September 21) and rates for Wednesday (September 22, 2004).
Published 22 Sep, 2004 12:00am
'Democratic institutions being strengthened'

'Democratic institutions being strengthened'

Deputy Speaker National Assembly Sardar Muhammad Yaqub Khan has said that the present government has concentrated its special attention on brining political, industrial and economic stability in the country.
Published 22 Sep, 2004 12:00am
Bharakhu to get gas this year

Bharakhu to get gas this year

Bharakhu will be provided natural gas this year with the financial assistance of Punjab, Sui Northern Gas Pipelines Limited (SNGPL) managing-director Abdur Rashid Lone said on Tuesday.
Published 22 Sep, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (September 21, 2004).
Published 22 Sep, 2004 12:00am
PHMA chief hails grant of EF quota by EU

PHMA chief hails grant of EF quota by EU

Grant of 4,000 metric tons of Exceptional Flexibility (EF) quota by the EU would not only help Pakistan to increase its export earnings but also help avert the threats of closure of factories due to the full utilisation of already available quotas.
Published 22 Sep, 2004 12:00am
Saudi health minister meets Shaukat

Saudi health minister meets Shaukat

Pakistan and Saudi Arabia on Tuesday decided to further expand co-operation in the health sector particularly in the export of high quality surgical equipment and medicines to Saudi Arabia.
Published 22 Sep, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (September 21, 2004).
Published 22 Sep, 2004 12:00am
Cotton price monitoring system to be launched

Cotton price monitoring system to be launched

Ministry of Food, Agriculture and Livestock (Minfal) and the Ministry of Commerce will establish a joint monitoring system to ensure close watch on cotton prices.
Published 22 Sep, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (September 21, 2004).
Published 22 Sep, 2004 12:00am
BSA links IT sector growth with curb on software piracy

BSA links IT sector growth with curb on software piracy

The Pakistani IT industry could grow faster by checking software piracy, as 83 percent illegal software installed on computers last year represented a loss of over $ 16 million to the information technology (IT) sector.
Published 22 Sep, 2004 12:00am
Review petitions of PSO dismissed

Review petitions of PSO dismissed

A two-member bench of the Supreme Court on Tuesday dismissed six review petitions of Pakistan State Oil (PSO) against employees and directed the petitioner to implement judgement of the court in full spirit according to its contents.
Published 22 Sep, 2004 12:00am
Saarc states vow to address AIDS menace

Saarc states vow to address AIDS menace

Saarc-member states have vowed to effectively tackle the growing menace of HIV particularly among the young people in this region by exchanging knowledge and learning from each others experience.
Published 22 Sep, 2004 12:00am
THE RUPEE: pressure mounts over local currency

THE RUPEE: pressure mounts over local currency

Pressure built up on the rupee in the interbank market on Tuesday in the absence of State Bank's support as a result of which it lost six paisa against dollar at Rs 59.07 and Rs 59.09 for buying and selling, respectively, currency dealers said. They said
Published 22 Sep, 2004 12:00am
Women suffer discrimination in health care: expert

Women suffer discrimination in health care: expert

The Low social status, attributed to women in developing world, has a direct bearing on all aspects of their life, including their very right to exist, opined a senior researcher and International Federation of Gynaecology and Obstetrics, Secretary Genera
Published 22 Sep, 2004 12:00am
THE RUPEE: pressure mounts over local currency

THE RUPEE: pressure mounts over local currency

Pressure built up on the rupee in the interbank market on Tuesday in the absence of State Bank's support as a result of which it lost six paisa against dollar at Rs 59.07 and Rs 59.09 for buying and selling, respectively, currency dealers said. They said
Published 22 Sep, 2004 12:00am
'Small dams to play vital role in meeting water requirement'

'Small dams to play vital role in meeting water requirement'

Minister of State for Water and Power Engineer Amir Maqam has said that the government intends to give priority for construction of small dams in the NWFP to cope with the situation of water shortage in the province.
Published 22 Sep, 2004 12:00am
Textile Spinning: BILAL FIBRES LIMITED - Half Year Ended March 31, 2004

Textile Spinning: BILAL FIBRES LIMITED - Half Year Ended March 31, 2004

It is a public limited company incorporated in the province of Punjab having its registered office situated at Liaquatabad Road, Faisalabad. The principal activity of the company is manufacture and sale of yarn. Its manufacturing facilities are located in
Published 22 Sep, 2004 12:00am
Government to set up 3 trauma centres in Karachi

Government to set up 3 trauma centres in Karachi

Sindh Government will establish three trauma centres in Karachi besides authorising at least one private health facility in each town of the city to provide first aid to victim of any casualty to save lives of people.
Published 22 Sep, 2004 12:00am
Textile Spinning: BILAL FIBRES LIMITED - Half Year Ended March 31, 2004

Textile Spinning: BILAL FIBRES LIMITED - Half Year Ended March 31, 2004

It is a public limited company incorporated in the province of Punjab having its registered office situated at Liaquatabad Road, Faisalabad. The principal activity of the company is manufacture and sale of yarn. Its manufacturing facilities are located in
Published 22 Sep, 2004 12:00am
Turkish Naval chief conferred Nishan-e-Imtiaz

Turkish Naval chief conferred Nishan-e-Imtiaz

Acting President Mohammedmian Soomro on Tuesday conferred the award of Nishan-e-Imtiaz (Military) on Admiral Ozden Ornek, Commander of Turkish Naval Forces in a special investiture ceremony held at Aiwan-e-Sadr.
Published 22 Sep, 2004 12:00am