News Archives for Print - 2004-10-01

Tokyo platinum falls further

Tokyo platinum futures extended losses on Thursday after failing to retain gains as profit-taking dominated, reflecting a slight recovery of the yen and a fall in oil prices.

Published 01 Oct, 2004 12:00am

Export financing rate for October raised

The State Bank of Pakistan on Thursday increased the export financing under the Export Financing Scheme for the month of October, while the banks' spread was kept fixed at 1.5 percent. "It has been decided that the rate of refinance under the Export Finan

Published 01 Oct, 2004 12:00am

Comex gold slows rise as August highs near

High energy prices kept Comex gold in favour with investors on Wednesday, but the precious metal lost upward momentum, and just missed its summer highs, after crude oil fell back below $50 a barrel.

Published 01 Oct, 2004 12:00am

India keen to collaborate in auto sector

India has shown keen interest for collaboration with Pakistan in all the sectors of the automobile industry, it is reliably learnt. Society of Indian Automobile Manufacturers (SIAM) initially wants to hold an automotive exhibition in Pakistan sometime in

Published 01 Oct, 2004 12:00am

Gold edges down in Asia as oil off record

Spot gold edged down in Asia on Thursday following a modest rise in US trade the previous day after oil prices drifted down from record levels, but the yellow metal was supported as the dollar struggled against the euro.

Published 01 Oct, 2004 12:00am

India keen to collaborate in auto sector

India has shown keen interest for collaboration with Pakistan in all the sectors of the automobile industry, it is reliably learnt. Society of Indian Automobile Manufacturers (SIAM) initially wants to hold an automotive exhibition in Pakistan sometime in

Published 01 Oct, 2004 12:00am

Malaysian tin rebounds on firm LME, Europeans return

Malaysia's tin market firmed on Thursday, aided by strong gains in base metals on the London Metal Exchange (LME) and fresh interest from Europe.

Published 01 Oct, 2004 12:00am

Duty drawback rates of four industries reduced

The Central Board of Revenue (CBR) has reduced duty drawback rates of four industries, including perfumed/cologne talcum powder, tetra pack for milk/juices, etc, plastic mats and different types of propylene films from September 30. The CBR has issued fou

Published 01 Oct, 2004 12:00am

Oil prices slip as imminent supply threats ease

Oil prices slid towards $49 a barrel on Thursday after US crude stocks rose unexpectedly and rebels in Nigeria's oil-rich delta region agreed to a cease-fire with the government, reducing an imminent threat to supplies.

Published 01 Oct, 2004 12:00am

Duty drawback rates of four industries reduced

The Central Board of Revenue (CBR) has reduced duty drawback rates of four industries, including perfumed/cologne talcum powder, tetra pack for milk/juices, etc, plastic mats and different types of propylene films from September 30. The CBR has issued fou

Published 01 Oct, 2004 12:00am

Shanghai copper up after LME-driven rally

Shanghai copper futures closed up on Thursday, buoyed by heavy gains on the London Metal Exchange, but trade stayed thin ahead of a week-long holiday, traders said.

Published 01 Oct, 2004 12:00am

Duty drawback rates of four industries reduced

The Central Board of Revenue (CBR) has reduced duty drawback rates of four industries, including perfumed/cologne talcum powder, tetra pack for milk/juices, etc, plastic mats and different types of propylene films from September 30. The CBR has issued fou

Published 01 Oct, 2004 12:00am

Kenyan tea production drops

Kenya's tea production fell for a second consecutive month in August 2004, dropping by five percent to 18,855,272 kg compared to the same month last year, the Tea Board of Kenya (TBK) said on Thursday.

Published 01 Oct, 2004 12:00am

KSE breaches 5200 level

The KSE-100 index broke 5200 level as renewed buying surfaced at the share market with volume average over 300 million shares, indicating that inherent sentiment are quite strong. The KSE-100 index rose 21.37 points or 0.41 percent to 5217.65 as compared

Published 01 Oct, 2004 12:00am

CBOT rice weaker

Chicago Board of Trade rough rice futures ended weak on Wednesday after speculative sell stops were triggered, traders said.

Published 01 Oct, 2004 12:00am

KSE breaches 5200 level

The KSE-100 index broke 5200 level as renewed buying surfaced at the share market with volume average over 300 million shares, indicating that inherent sentiment are quite strong. The KSE-100 index rose 21.37 points or 0.41 percent to 5217.65 as compared

Published 01 Oct, 2004 12:00am

New York sugar ends near 19-month high

NYBOT raw sugar futures settled on Wednesday near a 19-month high on trade and fund buying, with the sweetener seen staying strong given the market's bullish fundamentals, analysts said.

Published 01 Oct, 2004 12:00am

PSF price up by Rs 4 per kg

The price of polyester staple fiber (PSF) has registered an increase of rupees four per kilogram, effective from Friday (October 1). The new rates, announced by the local manufacturers of fiber on Thursday, would be Rs 88 per kilogram. The announcement in

Published 01 Oct, 2004 12:00am

Soyabeans mostly firm

Chicago Board of Trade soyabeans ended mostly firm on Wednesday on light speculative short-covering and fears of possible crop-damaging frost this week, but gains were pared late before on Thursday's crop report, brokers said.

Published 01 Oct, 2004 12:00am

PSF price up by Rs 4 per kg

The price of polyester staple fiber (PSF) has registered an increase of rupees four per kilogram, effective from Friday (October 1). The new rates, announced by the local manufacturers of fiber on Thursday, would be Rs 88 per kilogram. The announcement in

Published 01 Oct, 2004 12:00am

Tokyo rubber ends mixed

Tokyo rubber futures ended mixed on Thursday in a technical end-of-the-month position adjustment, but the spot contract's close above the key 145-yen level kept sentiment firm.

Published 01 Oct, 2004 12:00am

Simplified sales tax refund procedure launched

To issue lump sum sales tax refund cheques in minimum possible time, the Central Board of Revenue (CBR) has launched a new simplified procedure from October 1 to sanction refund only in 30 days of the submission of documents. The board has also reduced th

Published 01 Oct, 2004 12:00am

Malaysia raises CPO volume for tax-free export

Malaysia has raised the amount of crude palm oil (CPO) that can be exported tax-free this year in a bid to reduce mounting stocks and support domestic prices, its commodities minister said on Thursday.

Published 01 Oct, 2004 12:00am

Simplified sales tax refund procedure launched

To issue lump sum sales tax refund cheques in minimum possible time, the Central Board of Revenue (CBR) has launched a new simplified procedure from October 1 to sanction refund only in 30 days of the submission of documents. The board has also reduced th

Published 01 Oct, 2004 12:00am

Malaysian palm oil up

Malaysian crude palm oil futures closed nearly half a percent up on Thursday as data from cargo surveyors showed a modest growth in September shipments despite initial fears of a slowdown from August.

Published 01 Oct, 2004 12:00am

Simplified sales tax refund procedure launched

To issue lump sum sales tax refund cheques in minimum possible time, the Central Board of Revenue (CBR) has launched a new simplified procedure from October 1 to sanction refund only in 30 days of the submission of documents. The board has also reduced th

Published 01 Oct, 2004 12:00am

MPL-ACBL interactive workshop concludes

A two-day interactive and consultative workshop arranged by MPL Advertising at their office here on the theme, "Supporting Inspiring Relationships - Our Timeless Philosophy" concluded.

Published 01 Oct, 2004 12:00am

Proposal to raise potato and onion prices rejected

The Economic Coordination Committee (ECC) of the Federal Cabinet has rejected a proposal for the increase in indicative prices of potato and onion with a directive to the Food and Agriculture Ministry that it should find other means to make these key cash

Published 01 Oct, 2004 12:00am

ZTBL's Rabi credit from October 4

Zarai Taraqiati Bank Limited (ZTBL) has decided to start disbursement of loans for Rabi crops from October 04, 2004 under "One window operation", throughout the country.

Published 01 Oct, 2004 12:00am

Proposal to raise potato and onion prices rejected

The Economic Coordination Committee (ECC) of the Federal Cabinet has rejected a proposal for the increase in indicative prices of potato and onion with a directive to the Food and Agriculture Ministry that it should find other means to make these key cash

Published 01 Oct, 2004 12:00am

Merck to withdraw Vioxx globally

Merck and Co said Thursday it was withdrawing its arthritis and pain medication Vioxx around the world after a study revealed an increased risk for strokes and heart attacks.

Published 01 Oct, 2004 12:00am

Raise in wheat support price lauded

Leaders of leading farmers' organisations lauded the decision of government to enhance the wheat minimum support price Rs 350 to Rs 400 per 40 kg.

Published 01 Oct, 2004 12:00am

French economy leads as eurozone hesitates

France, the fastest growing of the large eurozone economies, reported improving business and consumer confidence on Thursday but European Commission figures gave little reason to expect a spurt in the region as a whole.

Published 01 Oct, 2004 12:00am

'Quality education right of every child'

Sindh Education Minister Hamida Khuhro has said that quality education was the right of every child in the province no matter where he lives.

Published 01 Oct, 2004 12:00am

Eurozone inflation subsides, consumers perkier

Eurozone inflation subsided towards the European Central Bank's goal in September even as consumer and business confidence rose tentatively, data showed on Thursday.

Published 01 Oct, 2004 12:00am

Pakistan awarded WFP rice tender

The United Nations World Food Programme (WFP) has awarded Pakistan a tender issued last week to supply 48,000 tonnes of 25 percent broken rice for North Korea, traders said.

Published 01 Oct, 2004 12:00am

Chip sales up in August, inventories seen dropping

Global semiconductor sales rose 1.1 percent, to $18.2 billion, in August from the previous month and it appears as though chip inventories are declining, an industry trade group said on Thursday.

Published 01 Oct, 2004 12:00am

Many benefit from Shaukat Omar Hospital's dental camp

The Medical Director of the Fauji Foundation's Shaukat Omar Memorial Hospital, Dr Qudsia Shaukat Umar said here on Thursday that the dental camp organised by the hospital on September 28 at its premises was a great success.

Published 01 Oct, 2004 12:00am

US music sales rebound, help stem global slide

A swing to growth in US album sales and surging consumption of music on DVD helped slow the decline in first-half global sales of recorded music, the trade body for the world's largest record companies said on Thursday.

Published 01 Oct, 2004 12:00am

Britain values relationship with Pakistan: Blair

British Prime Minister Tony Blair has said that Britain has an extraordinarily close relationship with Pakistan particularly in the past few years and cementing it further will be a good omen for rest of the world as well.

Published 01 Oct, 2004 12:00am

Musharraf encourages call centre and business processes outsourcing on WorldBridge Connect pattern

A dinner was hosted by the United States Chamber of Commerce and the US-Pakistan Business Council in the honour of President General Pervez Musharraf, in New York City, during his visit to the US to participate in the UN General Assembly. At the reception

Published 01 Oct, 2004 12:00am

TCP issues tender for urea import

The Trading Corporation of Pakistan (TCP) will import 250,000 metric tons of urea to avoid any shortage during the Rabi season.

Published 01 Oct, 2004 12:00am

Sri Lankan growth slows on drought, output drop

Sri Lanka's economic growth slowed to 5.2 percent in the year through the second quarter from 6.2 percent in the previous quarter, the Central Bank said on Thursday, blaming a drought and slowing output for the fall.

Published 01 Oct, 2004 12:00am

28 Palestinians and 3 Israelis killed

At least 28 Palestinians and three Israelis were killed in raging gunbattles in the Gaza Strip on Thursday during a massive Israeli raid that provoked some of the worst fighting in the impoverished area in months. In the latest bloodshed, at least seven P

Published 01 Oct, 2004 12:00am

New US-EU aircraft pact 'should be possible': Lamy

The United States and the European Union should be able to reach some agreement to put new disciplines on government support for civilian aircraft manufacturers Airbus and Boeing, a top European Union official said on Thursday.

Published 01 Oct, 2004 12:00am

28 Palestinians and 3 Israelis killed

At least 28 Palestinians and three Israelis were killed in raging gunbattles in the Gaza Strip on Thursday during a massive Israeli raid that provoked some of the worst fighting in the impoverished area in months. In the latest bloodshed, at least seven P

Published 01 Oct, 2004 12:00am

World Bank won't return to Iraq until 'safer': chief

World Bank staff will not return to Iraq until security improves, James Wolfensohn, the bank's president, said on Thursday.

Published 01 Oct, 2004 12:00am

Revenue collection exceeds Q1 target

The Central Board of Revenue (CBR) has collected Rs 111.5 billion during first quarter (July-September) 2004-2005 against Rs 94.1 billion collected during corresponding period last fiscal i.e. an increase of 18.5 percent. The CBR provisional collection of

Published 01 Oct, 2004 12:00am

PepsiCo profit up, cuts jobs

PepsiCo Inc, the world's No 2 soft drink company, said on Thursday quarterly profit rose due to tax benefits and strong performances from its key Frito-Lay snack and North American beverage businesses and raised its full-year profit forecast.

Published 01 Oct, 2004 12:00am

Revenue collection exceeds Q1 target

The Central Board of Revenue (CBR) has collected Rs 111.5 billion during first quarter (July-September) 2004-2005 against Rs 94.1 billion collected during corresponding period last fiscal i.e. an increase of 18.5 percent. The CBR provisional collection of

Published 01 Oct, 2004 12:00am

PepsiCo profit up, cuts jobs

PepsiCo Inc, the world's No 2 soft drink company, said on Thursday quarterly profit rose due to tax benefits and strong performances from its key Frito-Lay snack and North American beverage businesses and raised its full-year profit forecast.

Published 01 Oct, 2004 12:00am

Pope urges Musharraf to work for dialogue

Pope John Paul II urged President Pervez Musharraf to work for dialogue and tolerance in the troubled Indian sub-continent during an audience at the Vatican on Thursday. "In these times of turmoil and violence, I encourage you and your fellow citizens to

Published 01 Oct, 2004 12:00am

Farm sector drags on Indian economic growth

India's economy expanded more than expected in the year through the April-June quarter, data showed on Thursday, but softened compared with previous quarters as farm sector growth slowed down sharply.

Published 01 Oct, 2004 12:00am

Pope urges Musharraf to work for dialogue

Pope John Paul II urged President Pervez Musharraf to work for dialogue and tolerance in the troubled Indian sub-continent during an audience at the Vatican on Thursday. "In these times of turmoil and violence, I encourage you and your fellow citizens to

Published 01 Oct, 2004 12:00am

IMF will monitor use of its loan by Iraq: Rato

The International Monetary Fund, which has just approved a 436-million-dollar emergency loan to Iraq, said Thursday it would now work with the government there on a possible longer term credit arrangement.

Published 01 Oct, 2004 12:00am

Microsoft asks judge to suspend Windows penalties

Microsoft asked a European Union judge on Thursday to freeze a European Commission order forcing it to share technology with competitors, but a rival said the software giant used to provide such information freely.

Published 01 Oct, 2004 12:00am

EU defies insurers, edges towards gender law deal

The European Union is getting closer to agreeing a new law that would make it harder for insurers to charge men and women different premiums.

Published 01 Oct, 2004 12:00am

Canadian GDP up

Canada's economy expanded 0.1 percent in July from June as growth was held back by a building slump, less oil and gas drilling and a slowdown in the hotel and entertainment sectors, Statistics Canada said on Thursday.

Published 01 Oct, 2004 12:00am

G7 eyes 100 percent debt relief for poor nations: Snow

The Group of Seven industrialised nations are considering efforts to boost debt relief to the world's poorest countries, including the possibility of 100 percent debt forgiveness, US Treasury John Snow said Thursday.

Published 01 Oct, 2004 12:00am

China invites bids for $9 billion nuclear contracts

China has invited bids for contracts to build four nuclear generating units with a combined value of up to nine billion dollars, French company Areva said Thursday.

Published 01 Oct, 2004 12:00am

Bush spending in Iraq to be slower than suggested

Despite US President George W. Bush's promise to spend $9 billion on reconstruction contracts in Iraq in the next several months, administration and congressional officials said on Thursday it could take more than a year to actually pay out that much mone

Published 01 Oct, 2004 12:00am

US external debt up 3.2 percent

US debt owed to foreigners totalled $7.625 trillion at the end of June, up 3.2 percent from the $7.392 trillion seen at the end of March, the Treasury Department said on Thursday.

Published 01 Oct, 2004 12:00am

US jobless claims up on weather, consumption flat

US claims for jobless benefits jumped last week, while consumer spending was unexpectedly flat in August as shoppers closed their wallets after splashing out the previous month, the government said on Thursday.

Published 01 Oct, 2004 12:00am

US Treasuries fall on profit-taking

US Treasury debt prices fell for a second straight session on Wednesday as buyers' resistance to higher prices spawned a wave of profit-taking.

Published 01 Oct, 2004 12:00am

US Treasuries fall on profit-taking

US Treasury debt prices fell for a second straight session on Wednesday as buyers' resistance to higher prices spawned a wave of profit-taking.

Published 01 Oct, 2004 12:00am

Malaysian shares up as oil fears ease

Malaysian shares ended higher for the second straight day on Thursday, helped by easing oil prices which lifted Asian markets, but investors remained largely sidelined due to a lack of fresh leads.

Published 01 Oct, 2004 12:00am

Hong Kong stocks make gains

Hong Kong stocks rose by more than 1 percent on Thursday, boosted by a rally in select China plays such as ports and container group COSCO Pacific ahead of the week-long Golden Week holidays.

Published 01 Oct, 2004 12:00am

US stocks soar on tech bargains and cheaper oil

US stocks ended higher on Wednesday as investors snapped up semiconductor shares at bargain prices and bought some blue chips after crude oil retreated from record high prices.

Published 01 Oct, 2004 12:00am

Thai stocks end three-day fall on big caps

Thai stocks rose 1.27 percent on Thursday as investors bought big cap construction, energy and bank shares in a market helped by easing oil prices, analysts said.

Published 01 Oct, 2004 12:00am

Sri Lankan stocks climb

Sri Lankan stocks rose on Thursday, pushed up by heavy retail buying in a handful of select shares including rubber exporter C.W. Mackie and Co Ltd, brokers said. The key Colombo all-share index rose a provisional 0.54 percent or 7.78 points, to 1,450.81.

Published 01 Oct, 2004 12:00am

Philippines stocks jump

Philippines stocks rose for the first time in four days on Thursday as investors returned to the market on hopes of strong earnings at blue-chip firms led by conglomerate Ayala Corp and phone firm Globe Telecom Inc.

Published 01 Oct, 2004 12:00am

Singapore stocks rally, NOL in spotlight

Singapore shares ended higher on Thursday with activity centred on Neptune Orient Lines Ltd (NOL), a day after a take-over bid for the shipping firm by state investment agency Temasek Holdings Pte Ltd ended.

Published 01 Oct, 2004 12:00am

Nikkei rises but down 7.61 percent in first half

Tokyo's Nikkei average rose 0.35 percent on Thursday, snapping a nine-day slide on a technical bounce in major exporters, but it ended the April-September fiscal first half down 7.61 percent.

Published 01 Oct, 2004 12:00am

Jakarta stocks finish firmer

Jakarta stocks rose on Thursday, helped by some window dressing efforts for the end of the third quarter period, but dealers said the gains might be short-lived as investors may take profits the next session if leads are lacking.

Published 01 Oct, 2004 12:00am

Indian shares stay higher for second day

Indian shares rose 1 percent on Thursday, led by technology, auto and cement makers, with sentiment boosted by easing global oil prices, while bonds drooped on strong economic data.

Published 01 Oct, 2004 12:00am

Bangladeshi taka steady

The Bangladeshi taka ended steady on Thursday after demand for dollars weakened as import-related payments slowed ahead of the weekend starting on Friday, dealers said.

Published 01 Oct, 2004 12:00am

Chinese yuan unchanged

The yuan ended unchanged at 8.2765 to the dollar on Thursday, near the stronger end of its managed trading range.

Published 01 Oct, 2004 12:00am

Swiss franc ends steady against dollar

The Swiss franc was largely unchanged against the dollar in trade on Thursday unfazed by Switzerland's leading indicator for September, which showed that the economic recovery appeared to have peaked with no further acceleration in growth expected at the

Published 01 Oct, 2004 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 15	277.70
USD PKR Interbank Buying / Nov 15	277.50
USD to Japanese Yen / Nov 15	154.30
USD to Swiss Franc / Nov 15	0.89
Pound Sterling to USD / Nov 15	1.26
Euro to USD / Nov 15	1.05

Stock	Volume
India Sensex / Nov 14	77,580.31
S&P 500 / Nov 15	5,870.62
Tokyo Nikkei / Nov 15	38,642.91
Nasdaq / Nov 15	18,680.12
Hang Seng / Nov 15	19,426.34
FTSE 100 / Nov 15	8,063.61
Dow Jones / Nov 15	43,444.99
Germany DAX 30 / Nov 15	19,210.81

Item	Value
Crude Oil USD/Barrel / Nov 15	67.02
Gold 10 Grams PKR / Nov 15	233,371.60
Gold Spot USD/Ounce / Nov 15	2,563.25
Cotton US¢/pound / Nov 15	68.91
Karachi Cotton PKR/37.32 KG / Nov 16	18,085
Petrol/Litre / Nov 17	248.38

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▼ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▼ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▼ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▲ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▲ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▲ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 17 Worldcall Telecom Limited(WTL)	77,999,077 ▲ 0.00
Fauji Foods Ltd / Nov 17 Fauji Foods Limited(FFL)	70,721,702 ▲ 0.00
Hascol Petrol / Nov 17 Hascol Petroleum Limited(HASCOL)	55,501,231 ▲ 0.00
K-Electric Ltd. / Nov 17 K-Electric Limited(KEL)	36,884,955 ▲ 0.00
Sui South Gas / Nov 17 Sui Southern Gas Company Limited(SSGC)	36,294,630 ▲ 0.00
D.S. Ind. Ltd. / Nov 17 D.S. Industries Limited(DSIL)	32,226,742 ▲ 0.00
TRG Pak Ltd / Nov 17 TRG Pakistan Limited(TRG)	29,018,611 ▲ 0.00
Pak Int.Bulk / Nov 17 Pakistan International Bulk Terminal(PIBTL)	22,405,457 ▲ 0.00
Treet Battery / Nov 17 Treet Battery Limited(TBL)	21,319,898 ▲ 0.00

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