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Dec 19, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-09-23
Firm Vodafone, banks drive FTSE to two-year high

Firm Vodafone, banks drive FTSE to two-year high

Britain's top shares extended their recent rally to a fresh two-year high on Wednesday as mobile phone giant Vodafone was boosted by optimism for an upbeat investor presentation next week after a major bank raised its earnings forecasts, and banks were ai
Published 23 Sep, 2004 12:00am
New York cotton

New York cotton

The following were Wednesday's closing prices of New York cotton in US cents/lb.
Published 23 Sep, 2004 12:00am
New York cotton

New York cotton

The following were Wednesday's closing prices of New York cotton in US cents/lb.
Published 23 Sep, 2004 12:00am
India exchanges plan gas and oil trade

India exchanges plan gas and oil trade

Indian commodity exchanges plan to start electronic trading of natural gas in October and introduce oil, gas and electricity derivatives next year, officials said on Wednesday.
Published 23 Sep, 2004 12:00am
EU allows Russia to export dairy products

EU allows Russia to export dairy products

Russian dairies won permission from the European Union on Wednesday to send their milk products to the lucrative markets of the 25-nation bloc for the first time, officials at the European Commission said.
Published 23 Sep, 2004 12:00am
UN seeks to protect farm workers from pesticides

UN seeks to protect farm workers from pesticides

Two UN organisations urged developing countries on Wednesday to do more to protect up to five million farm workers who are believed to be poisoned each year by chemical pesticides.
Published 23 Sep, 2004 12:00am
Gold chops previous gains in Europe

Gold chops previous gains in Europe

Gold wiped out the previous day's gains in Europe on Wednesday afternoon as prices came under pressure after currency markets digested Tuesday's comments from the Federal Reserve on monetary tightening.
Published 23 Sep, 2004 12:00am
London sugar higher on trade buying

London sugar higher on trade buying

London sugar futures closed higher on trade buying on Wednesday as distant contracts recovered from producer and speculator selling earlier in the afternoon, traders said.
Published 23 Sep, 2004 12:00am
New York cotton extend rally

New York cotton extend rally

NYBOT cotton extended its rally to close higher Wednesday on trade and merchant buying, with the market possibly challenging technical obstacles in the days ahead, analysts said.
Published 23 Sep, 2004 12:00am
London cocoa ends up

London cocoa ends up

London's cocoa market put in a strong performance on Wednesday, spurred on by early speculative buying and then limited fund interest, which came in after initial resistance levels gave way, dealers said.
Published 23 Sep, 2004 12:00am
Metals resume uptrend at LME, notch up fresh highs

Metals resume uptrend at LME, notch up fresh highs

Base metals shrugged off a momentary technical correction during Wednesday afternoon London Metal Exchange (LME) trading, resuming this week's uptrend to notch up new highs, traders said.
Published 23 Sep, 2004 12:00am
World oil surges over $48 after US supply drop

World oil surges over $48 after US supply drop

Oil prices climbed to within a dollar of a new record on Wednesday after the US government reported a big decline in oil stockpiles because of disruptions from Hurricane Ivan. US oil futures settled up $1.59 at $48.35 a barrel after hitting $48.65 midday,
Published 23 Sep, 2004 12:00am
World oil surges over $48 after US supply drop

World oil surges over $48 after US supply drop

Oil prices climbed to within a dollar of a new record on Wednesday after the US government reported a big decline in oil stockpiles because of disruptions from Hurricane Ivan. US oil futures settled up $1.59 at $48.35 a barrel after hitting $48.65 midday,
Published 23 Sep, 2004 12:00am
US MIDDAY: coffee extend rally

US MIDDAY: coffee extend rally

Arabica coffee futures climbed to a new three-month high on Wednesday, extending gains amid a two-week rally on technical factors combined with some concerns about Brazilian crop development.
Published 23 Sep, 2004 12:00am
US MIDDAY: cocoa rises

US MIDDAY: cocoa rises

Cocoa futures rose for the fourth straight day to nearly a three-week high, bolstered by a technical bounce and by a report of a downward revision in pod counts in cocoa-rich West Africa, traders said on Wednesday.
Published 23 Sep, 2004 12:00am
US MIDDAY: sugar at 2-week high

US MIDDAY: sugar at 2-week high

NYBOT raw sugar futures finished Wednesday near a two-week high on trade buying that some players suspect may be linked to consumer imports of the sweetener, brokers said.
Published 23 Sep, 2004 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Soft red winter (SRW) wheat futures at the Chicago Board of Trade were lower early on Wednesday on rains this week in key portions of the US Plains hard red winter wheat growing region, traders said.
Published 23 Sep, 2004 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

Chicago Board of Trade corn futures faltered on Wednesday, with December making a contract low for the ninth straight session on US harvest pressure and reports of excellent yields, brokers said.
Published 23 Sep, 2004 12:00am
US MIDDAY: soya at one-year low

US MIDDAY: soya at one-year low

Chicago Board of Trade soyabean futures fell on Wednesday on harvest pressure and ongoing reports of very good early harvest yields, brokers said.
Published 23 Sep, 2004 12:00am
US MIDDAY: copper dips

US MIDDAY: copper dips

COMEX copper futures fell Wednesday as a firmer dollar prompted some players to take profits after a second successive session of five-month highs.
Published 23 Sep, 2004 12:00am
US MIDDAY: gold futures slip

US MIDDAY: gold futures slip

Gold futures dropped Wednesday morning as investors switched back into the dollar a day after the Federal Reserve raised interest rates.
Published 23 Sep, 2004 12:00am
Saudi Pak maintains growth momentum

Saudi Pak maintains growth momentum

The profile of Saudi Pak Industrial & Agricultural Investment Company (Pvt) Limited is continuously rising. With the positive trend in economic development at national level coupled with the increased GDP, Saudi Pak is all set to achieve consistent and pr
Published 23 Sep, 2004 12:00am
Message from Consul General of Saudi Arabia in Karachi

Message from Consul General of Saudi Arabia in Karachi

In The Name Of Allah The Most Gracious The Most Merciful. For every nation there is an Occasion through which it perceives every year new image representing its glory and heritage of which it boasts. It commemorates heroism and victories of its past histo
Published 23 Sep, 2004 12:00am
Poland greets Shaukat

Poland greets Shaukat

Marek Belka, Chairman of the Council of Ministers of the Republic of Poland has greeted Prime Minister Shaukat Aziz on assuming his office.
Published 23 Sep, 2004 12:00am
Chinese envoy meets railways minister

Chinese envoy meets railways minister

Chinese Ambassador in Pakistan Zhang Chun Xiang called on Federal Minister for Railways Mian Shamim Haider and discussed various railways projects being completed with co-operation of China.
Published 23 Sep, 2004 12:00am
Kasuri hails Marker

Kasuri hails Marker

Foreign Minister Khurshid M Kasuri has congratulated seasoned diplomat Jamshad Markar on his appointment as Pakistan's Ambassador at large.
Published 23 Sep, 2004 12:00am
Musharraf hopes good working ties with Manmohan

Musharraf hopes good working ties with Manmohan

President General Pervez Musharraf has said that he was hopeful of striking a good working relationship with Indian Prime Minister Manmohan Singh ahead of their first meeting here.
Published 23 Sep, 2004 12:00am
Patients facing immense problems at CGH

Patients facing immense problems at CGH

People coming for medical treatment in the Cantonment General Hospital (CGH) Rawalpindi are facing immense problems due to negligence of hospital administration while the mismanagement and callous attitude of hospital staff has added numerous problems for
Published 23 Sep, 2004 12:00am
'Without addressing root causes no terror war success'

'Without addressing root causes no terror war success'

President General Pervez Musharraf said late Tuesday evening that fight against terrorism would not be fully successful in the long-term until political disputes are addressed, poverty is stemmed and higher levels of literacy are achieved for continued so
Published 23 Sep, 2004 12:00am
Accounting laws

Accounting laws

I refer to the article "Accounting laws need to be updated" by Mohammad Ashraf in the Business Recorder of September 15, 2004, and would like to point out that there are certain factual errors in the article. It is stated in the article that:
Published 23 Sep, 2004 12:00am
Higher return for NIT investors

Higher return for NIT investors

National Investment Trust (NIT) has, this year, paid dividend at Rs 2.55 per unit Rs 4 billion to its unit holders to create a new record in its 42-year history. The performance of NIT can be appreciated as 'remarkable' on two counts.
Published 23 Sep, 2004 12:00am
Abu Ghraib's shocking photos become museum pieces in US

Abu Ghraib's shocking photos become museum pieces in US

The shocking photographs of US soldiers abusing Iraqi prisoners at the infamous Abu Ghraib prison have made their way into two US museums, creating controversy over the propriety of exhibiting the damaging pictures.
Published 23 Sep, 2004 12:00am
Tax-to-GDP ratio: CBR's dilemma

Tax-to-GDP ratio: CBR's dilemma

In response to a statement by the Chairman Central Board of Revenue that tax-to-GDP ratio of Pakistan is 11.3% for the financial year 2003-2004, a letter was published in Business Recorder [August 28, 2004] that it is in fact 9.3% as per official d
Published 23 Sep, 2004 12:00am
UN needs democratic reform

UN needs democratic reform

As more than 100 world leaders start making ritual speeches at the annual UN General Assembly (UNGA) session, strong voices are being raised for the world body's reform.
Published 23 Sep, 2004 12:00am
Underutilisation of funds allocated for PSDP

Underutilisation of funds allocated for PSDP

Utilisation of funds earmarked for Public Sector Development Programme (PSDP) has been a perennial problem in Pakistan. Whatever is provided in the budget under PSDP remains grossly underutilized for a number of reasons including slow and cumbersome proce
Published 23 Sep, 2004 12:00am
'Friendship Food Festival' from September 23

'Friendship Food Festival' from September 23

Holiday Inn-Lahore will hold a seven-day 'Friendship Food Festival' from September 23-30, for the promotion of culture and traditions of sub-continent and bringing to light the typical customs, food, dresses and other cultural things.
Published 23 Sep, 2004 12:00am
Unesco chief greets Prime Minister

Unesco chief greets Prime Minister

Director General of Unesco Koichiro Matsuura has greeted Prime Minister Shaukat Aziz on assumption of his office.
Published 23 Sep, 2004 12:00am
'Islamabad badly needs new industrial zone'

'Islamabad badly needs new industrial zone'

Islamabad Chamber of Commerce and Industry (ICCI) President Zubair Ahmed Malik has said that Islamabad badly needed a new industrial zone to absorb more industries in it in future.
Published 23 Sep, 2004 12:00am
President discusses foreign policy with envoys

President discusses foreign policy with envoys

President General Pervez Musharraf chaired a meeting with Pakistani envoys to review and discuss priorities of country's foreign policy with particular reference to the United States and Europe in order to make it more effective.
Published 23 Sep, 2004 12:00am
KWCA elects office-bearers

KWCA elects office-bearers

The following office-bearers were elected at a meeting of the Karachi Wholesale Grocers Association (KWCA) for 2004-06.
Published 23 Sep, 2004 12:00am
'Committee Chowk underpass plan to be completed in 90 days'

'Committee Chowk underpass plan to be completed in 90 days'

Dispelling the impression of any delay in the construction work of the Committee Chowk underpass, Tehsil Nazim Raja Hamid Nawaz has said the its construction will be completed before the stipulated time.
Published 23 Sep, 2004 12:00am
Free eye camp

Free eye camp

A free eye camp will be arranged under the auspices of "Muhammad Sadiq Hajra Bibi Memorial Welfare Society" here at 18 Km Sheikhupura, Faisalabad Road, announced a press release hare on Wednesday.
Published 23 Sep, 2004 12:00am
The Weather

The Weather

The weather report on Wednesday (September 22) and the forecast for Thursday (September 23, 2004).
Published 23 Sep, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
UHS organising seminar

UHS organising seminar

University of Health Sciences (UHS), Lahore is organising a seminar on 'Dilemma of Split Biopsy' on Saturday, September 25.
Published 23 Sep, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
'FPCCI values UNDP role in social uplift'

'FPCCI values UNDP role in social uplift'

United Nations Development Programme (UNDP) playing an important role in Pakistan's social development, said FPCCI's zonal chief, Sohail Altaf at a meeting with Haoliang Xu newly-appointed Deputy Resident Representative-UNDP, who visited FPCCI zonal offic
Published 23 Sep, 2004 12:00am
Key stock market movements at 1700 GMT - September 22

Key stock market movements at 1700 GMT - September 22

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 23 Sep, 2004 12:00am
Indian judges and lawyers team due on September 23

Indian judges and lawyers team due on September 23

A joint delegation of Indian Council of Jurists comprising Supreme Court and High Courts judges (retired), and elected representatives of Indian Bar will leave for Pakistan tomorrow on a week-long goodwill visit.
Published 23 Sep, 2004 12:00am
Bail plea in embezzlement case dismissed

Bail plea in embezzlement case dismissed

A two-member bench of the Supreme Court of Pakistan on Wednesday dismissed bail petition of Syed Askari Naqvi, deposit in-charge of United Bank Limited in an embezzlement case and directed FIA to frame charge-sheet against him within two weeks for trial.
Published 23 Sep, 2004 12:00am
Three CDA officers suspended

Three CDA officers suspended

The Chairman Capital Development Authority (CDA) Kamran Lashari has dismissed a Deputy Director and suspended two other officials of the authority, sources told Business Recorder here on Wednesday.
Published 23 Sep, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (September 22, 2004)
Published 23 Sep, 2004 12:00am
Parleys between Musharraf aides, PPPP gain steam

Parleys between Musharraf aides, PPPP gain steam

As the 'deadline' for President Pervez Musharraf to shed his military outfit draws nearer, contacts between his top aides and PPPP have gained momentum in recent weeks.
Published 23 Sep, 2004 12:00am
Punjab University to install CCTV in two months

Punjab University to install CCTV in two months

After formal launching of regular transmission of radio FM 104.6, the Punjab University Department of Mass Communication has decided to install close circuit TV during next two months.
Published 23 Sep, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
Drive to check edible items quality in hotels

Drive to check edible items quality in hotels

The Capital Development Authority (CDA) Directorate of Health Services has launched a drive to check and examine edible items in hotels and restaurants.
Published 23 Sep, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (September 22) and rates for Thursday (September 23, 2004).
Published 23 Sep, 2004 12:00am
Badr case hearing now on October 10

Badr case hearing now on October 10

An accountability court on Wednesday put off to October 10, the proceedings in a reference against former federal minister and PPPP Secretary General Jehangir Badr as his counsel concluded cross examination on investigating officer.
Published 23 Sep, 2004 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

KARACHI: New Jubilee Life Insurance Company (Formerly Commercial Union Life Assurance Company (Pakistan) Ltd) has announced the offer and bid price per unit for the following funds effective from Thursday, September 23, 2004.

Published 23 Sep, 2004 12:00am
Government urged not to increase oil prices

Government urged not to increase oil prices

The directive of the Economic Co-ordination Committee (ECC) of the Cabinet to Trading Corporation Pakistan (TCP) to release 0.2 million tons sugar in the market to stabilise prices was widely appreciated by market analysts on Wednesday.
Published 23 Sep, 2004 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

KARACHI: New Jubilee Life Insurance Company (Formerly Commercial Union Life Assurance Company (Pakistan) Ltd) has announced the offer and bid price per unit for the following funds effective from Thursday, September 23, 2004.

Published 23 Sep, 2004 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

KARACHI: New Jubilee Life Insurance Company (Formerly Commercial Union Life Assurance Company (Pakistan) Ltd) has announced the offer and bid price per unit for the following funds effective from Thursday, September 23, 2004.

Published 23 Sep, 2004 12:00am
DSP and SO suspended for traffic jam

DSP and SO suspended for traffic jam

Reacting strongly to traffic jam on one of the main thoroughfares of city, the I I. Chundrigar Road, on Tuesday evening, Inspector General of Police Sindh Syed Kamal Shah has issued orders for suspensions of DSP Traffic and SO of City Traffic Section for
Published 23 Sep, 2004 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
National Day of Saudi Arabia today

National Day of Saudi Arabia today

A grand reception to celebrate the National Day of Saudi Arabia will be organised at a hotel here on Thursday.
Published 23 Sep, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
No peace in South Asia without Kashmir solution: JKLF

No peace in South Asia without Kashmir solution: JKLF

Jammu Kashmir Liberation Front (JKLF) has believed that there would be no peace in South Asia unless Indian occupied Kashmir dispute was not resolved as per the aspiration of people of Indian occupied Jammu and Kashmir.
Published 23 Sep, 2004 12:00am
Lahore to have water treatment plant

Lahore to have water treatment plant

District Nazim Mian Amer Mahmood has said that the City District Government Lahore is seriously considering establishment of first-ever water treatment plant in the provincial metropolis in collaboration with a foreign agency.
Published 23 Sep, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
Sugar millers resent government move

Sugar millers resent government move

Sugar millers while expressing their concern over the government's decision to release 200,000 tons of sugar in the market on October 15, have apprehended that the decision may cause delay in start of crushing season, scheduled to start by November 1.
Published 23 Sep, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 22, 2004).
Published 23 Sep, 2004 12:00am
UNFPA briefs Sindh chief secretary about CPAP projects

UNFPA briefs Sindh chief secretary about CPAP projects

The country representative of UNFPA Dr Olivier Brasseur, on Wednesday called on Sindh Chief Secretary Aslam Sanjrani and briefed him about UNFPA's Country Programme Action Plan (CPAP).
Published 23 Sep, 2004 12:00am
Tribesmen reject election for tribal councils

Tribesmen reject election for tribal councils

Tribal elders belonging to Qambarkhel tribe of Khyber Agency while rejecting the ongoing election for the tribal councils demanded of the NWFP governor to conduct free and impartial election of these councils and stop political agents from their interfere
Published 23 Sep, 2004 12:00am
RCCI chief for industrialisation of Rawalpindi region

RCCI chief for industrialisation of Rawalpindi region

The newly elected president of the Rawalpindi Chamber of Commerce and Industry (RCCI), Najam Rehan, expressed his resolve to strive for industrialisation of the Rawalpindi region, saying his desire is to give Rawalpindi an identification with a particular
Published 23 Sep, 2004 12:00am
THE RUPEE: rupee at 2-year low in interbank market

THE RUPEE: rupee at 2-year low in interbank market

The rupee touched the nearly two-year lowest level versus the dollar in the inter-bank market on Wednesday for buying and selling at Rs 59.16 and Rs 59.18, dealers said. They also said that it was at its lowest level against the dollar after October 2002.
Published 23 Sep, 2004 12:00am
Fata legislators to visit Waziristan

Fata legislators to visit Waziristan

Parliamentarians from Fata would shortly visit the troubled south Waziristan Agency and other areas under military combing to eliminate terrorists for convincing tribal leaders to hand over 'miscreants' to bring normalcy in the region.
Published 23 Sep, 2004 12:00am
THE RUPEE: rupee at 2-year low in interbank market

THE RUPEE: rupee at 2-year low in interbank market

The rupee touched the nearly two-year lowest level versus the dollar in the inter-bank market on Wednesday for buying and selling at Rs 59.16 and Rs 59.18, dealers said. They also said that it was at its lowest level against the dollar after October 2002.
Published 23 Sep, 2004 12:00am
SBP to allow BoK to open Islamic banking branches

SBP to allow BoK to open Islamic banking branches

The State bank of Pakistan Islamic Banking Director Pervez Saeed in a meeting with NWFP Chief Minister Akram Khan Durrani here on Tuesday night, assured State Bank of Pakistan would issue license to Bank of Khyber (BoK) for opening Islamic banking branche
Published 23 Sep, 2004 12:00am
Synthetic & Rayon: S.G. FIBRE LIMITED - Nine Months Ended March 31 2004

Synthetic & Rayon: S.G. FIBRE LIMITED - Nine Months Ended March 31 2004

In sharp contrast to the last full year's adverse results, the company's financial and operating results have significantly improved during the year under review. About the sharp turnaround, the directors of this manufacturing unit of filament yarn stated
Published 23 Sep, 2004 12:00am
Sikandar flays Blair for backing India

Sikandar flays Blair for backing India

The Prime Minister of Azad Kashmir Sardar Sikandar Hayat Khan has said Britain prime minister Tony Blair's backing of Indian plans to get a permanent berth at the UN had rendered a severe blow to the poor and suppressed nations.
Published 23 Sep, 2004 12:00am
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