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May 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-11-02
LME metals mostly lower amid cautious sentiment

LME metals mostly lower amid cautious sentiment

Base metals ended mostly lower levels during Monday's London Metal Exchange (LME) ring trading, as investors shaved profits from a recent rally in a cautious showing ahead of Tuesday's US presidential election and option declarations the day after.
Published 02 Nov, 2004 12:00am
NWFP governor calls on President

NWFP governor calls on President

Governor NWFP Retired Lieutenant General Syed Iftikhar Hussain Shah called on President General Pervez Musharraf here Monday. During the meeting, the Governor gave an extensive briefing on the on-going development projects and law and order situation in N
Published 02 Nov, 2004 12:00am
East Asian corn importers cautious on freight

East Asian corn importers cautious on freight

East Asian importers are holding off buying corn for 2005 arrival, hoping freight costs will ease and prices will dip as more corn is offered from China, regional traders said on Monday.
Published 02 Nov, 2004 12:00am
Oil slides as speculators bet on Kerry win

Oil slides as speculators bet on Kerry win

Oil prices fell sharply on Monday on speculation that a US election win for Senator John Kerry could ease the geopolitical friction that has helped fuel this year's record-breaking rally. US light crude settled down $1.63 to $50.13 after diving as low as
Published 02 Nov, 2004 12:00am
Oil slides as speculators bet on Kerry win

Oil slides as speculators bet on Kerry win

Oil prices fell sharply on Monday on speculation that a US election win for Senator John Kerry could ease the geopolitical friction that has helped fuel this year's record-breaking rally. US light crude settled down $1.63 to $50.13 after diving as low as
Published 02 Nov, 2004 12:00am
European gold confined in ranges, US poll in focus

European gold confined in ranges, US poll in focus

Gold stayed in a tight band in Europe on Monday after the price stopped 50 cents short of January's 15-year peak at $430.50 per ounce in Asian trade. Dealers were focused on Tuesday's US presidential election, which was encouraging investors to stay relat
Published 02 Nov, 2004 12:00am
New York cotton settles easier

New York cotton settles easier

NYBOT cotton futures closed softer Monday on combined speculative liquidation although steady trade buying at the lows trimmed the market's losses, brokers said.
Published 02 Nov, 2004 12:00am
TCP procures over 0.4 million cotton bales

TCP procures over 0.4 million cotton bales

Trading Corporation of Pakistan (TCP) has so far procured more than 403,600 bales of cotton from ginneries in Sindh and Punjab. According to the TCP here on Monday, these bales were procured from Nawabshah, Sukkur, Rahim Yar Khan, Multan, Bahawalpur, Harr
Published 02 Nov, 2004 12:00am
FTSE ends higher; bid talk lifts Sainsbury

FTSE ends higher; bid talk lifts Sainsbury

Britain's leading share index closed 1.1 percent up on Monday, led by gains in banks and mining shares, while supermarket chain J.Sainsbury rose on fresh speculation of a bid.
Published 02 Nov, 2004 12:00am
Bonds: Network Rail on borrowing track

Bonds: Network Rail on borrowing track

European corporate bonds drifted sideways on Monday with investors waiting on the sidelines ahead of the US presidential elections, with Network Rail bonds unchanged after the group mandated banks for sterling bonds.
Published 02 Nov, 2004 12:00am
Bonds: Network Rail on borrowing track

Bonds: Network Rail on borrowing track

European corporate bonds drifted sideways on Monday with investors waiting on the sidelines ahead of the US presidential elections, with Network Rail bonds unchanged after the group mandated banks for sterling bonds.
Published 02 Nov, 2004 12:00am
Monday's unofficial close: US stocks rise as sharp oil drop fuels gains

Monday's unofficial close: US stocks rise as sharp oil drop fuels gains

Stocks rose on Monday as crude oil prices fell and offset investor uncertainty about the outcome of the US presidential election. Crude oil futures on the New York Mercantile exchange sank more than $2 below $50 a barrel on technical selling. The market l
Published 02 Nov, 2004 12:00am
Jakarta stocks hit record, solid earnings help

Jakarta stocks hit record, solid earnings help

Jakarta stocks edged up to a fresh record close on Monday in slow trade amid a lack of fresh leads, although some second liners rose on strong quarterly results.
Published 02 Nov, 2004 12:00am
Directive to improve social welfare institutions

Directive to improve social welfare institutions

NWFP Senior Minister Sirajul Haq has directed for streamlining the functioning of all institutions and projects under social welfare department, as well as bringing it in harmony with requirements and aspirations of the people.
Published 02 Nov, 2004 12:00am
Meeting reviews Thar projects

Meeting reviews Thar projects

Sindh Minister for Mineral Development, Irfanullah Marwat has said that supply of drinking water and construction of roads in Thar were two major schemes at the priority under the Thar Package announced by Prime Minister, Shaukat Aziz.
Published 02 Nov, 2004 12:00am
CDGK opposes denationalisation of colleges

CDGK opposes denationalisation of colleges

City Nazim, Naimatullah Khan has said that it was his opinion that nationalisation of colleges was a mistake, and denationalisation would be an even bigger mistake then.
Published 02 Nov, 2004 12:00am
Admissions for Masters classes at Karachi University

Admissions for Masters classes at Karachi University

The process of admissions for Masters classes at Karachi University for the next academic session would commence from November 2. An announcement to this effect was made by the spokesman of Karachi University on Monday.
Published 02 Nov, 2004 12:00am
Uninterrupted power supply ensured

Uninterrupted power supply ensured

KESC has finalised arrangements for ensuring uninterrupted power supply on the occasion of Youm-e-Ali and Lailatul Qadar.
Published 02 Nov, 2004 12:00am
Body to review energy generation process

Body to review energy generation process

A high level official committee on alternate energy will be constituted within next three weeks which will review energy generation process from various sources like wind-mills, solar energy, high tides and bio-gas according to the requirement of differen
Published 02 Nov, 2004 12:00am
Smoking in buses

Smoking in buses

Have you ever come across a situation when you are travelling in a public bus/van the person sitting next to you starts smoking. You must have witnessed such an occasion very often. How embarrassing and disgusting the situation is when one person out of 5
Published 02 Nov, 2004 12:00am
Open letter to President Musharraf

Open letter to President Musharraf

I am one of the many Pakistani origin Americans, who welcomed President Musharraf and his seven-point agenda. His bold decision to join the war against terrorism and encourage enlightened moderation has won the hearts of educated Muslims. However, there a
Published 02 Nov, 2004 12:00am
The Aga Khan III, an extraordinary Muslim leader

The Aga Khan III, an extraordinary Muslim leader

H.R.H Sir Sultan Mohamed Shah Aga Khan III believed in Islam as a world religion and he worked ceaselessly for its triumph and glory throughout his life. He had always been passionately interested in promoting unity and understanding among the Muslims all
Published 02 Nov, 2004 12:00am
Voluntary tax compliance: challenges and solutions-II

Voluntary tax compliance: challenges and solutions-II

The CBR, in the past, was brutally politicised by the successive civilian governments in Pakistan. The high-ranking postings in CBR were made to serve as handmaid of the political masters. In return, CBR's high-ups served the "interests" of their politica
Published 02 Nov, 2004 12:00am
State Bank's view of the economy

State Bank's view of the economy

The annual report of the State Bank, released on 30th October, 2004, gives a fairly comprehensive assessment of the economy for the year 2003-04 and outlines likely trends for the current year. The robust growth of 6.4 percent during Fy04 was not only sub
Published 02 Nov, 2004 12:00am
Bagh Ibn-e-Qasim project hits snags

Bagh Ibn-e-Qasim project hits snags

The dollars 250 million Bagh Ibn-e-Qasim Project in Clifton seems to be heading towards failure owing to scores of reasons particularly vested interests and lack of apathy on part of authorities to facilitate the investors.
Published 02 Nov, 2004 12:00am
First Internet radio station in NWFP soon

First Internet radio station in NWFP soon

The NWFP's first Internet Radio Station is being launched soon and people all over the world would have access to information about the culture, steps of the government being taken for the development of the people of this province etc.
Published 02 Nov, 2004 12:00am
SSGC installs 415 pre-paid meters

SSGC installs 415 pre-paid meters

Sui Southern Gas Company (SSGC) has installed 415 pre-paid gas meters in the city under a pilot project to save its customers from unnecessary hassle and inconvenience. This was stated by the SSGC managing director Munawar Baseer Ahmad at the inauguration
Published 02 Nov, 2004 12:00am
Shopping gains momentum

Shopping gains momentum

With the advent of the month of November and pay day for most employees, the Eidul Fitr shopping has gained momentum in the city and all the shopping centres are doing roaring business in the day till the Asr prayers and again, after the Taraveeh prayers
Published 02 Nov, 2004 12:00am
Senate body for prompt delivery of cars

Senate body for prompt delivery of cars

The Senate Standing Committee on Industries and Production which met here on Monday with Senator Muhammad Akram in chair underlined the need of prompt delivery of cars by assemblers to customers.
Published 02 Nov, 2004 12:00am
Drastic falls on Lahore Stock Exchange

Drastic falls on Lahore Stock Exchange

Massive offloading by some major funds led equities to drastic falls on Lahore Stock Exchange (LSE), where the benchmark index registered a decline of 61.44 points amid steady transaction volume. According to stock analysts, bears got hold of the driving
Published 02 Nov, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (November 01, 2004).

Published 02 Nov, 2004 12:00am
Equities suffer losses on ISE

Equities suffer losses on ISE

Bears continued to stay in the driving seat at the Islamabad Stock Exchange (ISE) where equities suffered losses under the lead of trend-setters amid decrease in index. ISE network index was down by 66.72 points as the rate-based indicator moved from 11,3
Published 02 Nov, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (November 01, 2004).

Published 02 Nov, 2004 12:00am
Equities suffer losses on ISE

Equities suffer losses on ISE

Bears continued to stay in the driving seat at the Islamabad Stock Exchange (ISE) where equities suffered losses under the lead of trend-setters amid decrease in index. ISE network index was down by 66.72 points as the rate-based indicator moved from 11,3
Published 02 Nov, 2004 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (November 01, 2004).

Published 02 Nov, 2004 12:00am
Swedish GDP growth seen slowing after 2010

Swedish GDP growth seen slowing after 2010

Sweden's economic growth will get a boost from higher labour supply and number of hours worked in the coming years, but slow down after 2010 as an ageing workforce takes more time off, a deputy central bank chief said.
Published 02 Nov, 2004 12:00am
Iraq to be flexible on oil field development offers

Iraq to be flexible on oil field development offers

Iraq will keep its options open on how to develop its oil fields despite the popularity of production sharing deals among the industry's major companies, Oil Minister Thamir al-Ghadhban said on Sunday.
Published 02 Nov, 2004 12:00am
Surge in German retail space despite fall in sales

Surge in German retail space despite fall in sales

Germany's retail sector expects a third annual fall in sales in 2004 as economic growth fears leave consumers ill inclined to spend, yet shop-floor space is expanding at an astonishing pace.
Published 02 Nov, 2004 12:00am
Sysco quarterly profit up, cost cuts help

Sysco quarterly profit up, cost cuts help

Food distributor Sysco Corp on Monday posted an 8.2 percent rise in quarterly profit as cost cuts helped offset sluggish business for some of its restaurant and food service customers. The company was also pressured by rising fuel prices, disruptions from
Published 02 Nov, 2004 12:00am
Sysco quarterly profit up, cost cuts help

Sysco quarterly profit up, cost cuts help

Food distributor Sysco Corp on Monday posted an 8.2 percent rise in quarterly profit as cost cuts helped offset sluggish business for some of its restaurant and food service customers. The company was also pressured by rising fuel prices, disruptions from
Published 02 Nov, 2004 12:00am
SBP to monitor banks' lending to SMEs

SBP to monitor banks' lending to SMEs

The State Bank of Pakistan (SBP) is beginning to monitor the small and medium enterprises (SME) sector to ensure that prudent lending to SMEs also becomes the mainstream activity of commercial banks. From the perspective providing credit to SMEs is an att
Published 02 Nov, 2004 12:00am
BoK to be listed on KSE next year

BoK to be listed on KSE next year

The Bank of Khyber (BoK) is going to be listed at Karachi Stock Exchange (KSE) next year as it is going to offer its 49 percent shares through initial public offering (IPO) by the end of 2004, Managing Director of BoK, Dr Munir Ahmad told Business Reco
Published 02 Nov, 2004 12:00am
BoK to be listed on KSE next year

BoK to be listed on KSE next year

The Bank of Khyber (BoK) is going to be listed at Karachi Stock Exchange (KSE) next year as it is going to offer its 49 percent shares through initial public offering (IPO) by the end of 2004, Managing Director of BoK, Dr Munir Ahmad told Business Reco
Published 02 Nov, 2004 12:00am
10 panels set up for disputes resolution

10 panels set up for disputes resolution

The Central Board of Revenue (CBR) has constituted 10 committees for the resolution of disputes between taxpayers and customs department under 'alternative dispute resolution'. The committees have been constituted in Karachi, Hyderabad, Quetta, Lahore, Mu
Published 02 Nov, 2004 12:00am
10 panels set up for disputes resolution

10 panels set up for disputes resolution

The Central Board of Revenue (CBR) has constituted 10 committees for the resolution of disputes between taxpayers and customs department under 'alternative dispute resolution'. The committees have been constituted in Karachi, Hyderabad, Quetta, Lahore, Mu
Published 02 Nov, 2004 12:00am
PNSC posts Rs 123.93 million profit in first quarter

PNSC posts Rs 123.93 million profit in first quarter

Pakistan National Shipping Corporation (PNSC) has gained an operating profit of Rs 123.93 million in the first quarter ended September 30, 2004. According to Corporation's un-audited report, the national flag carrier's operating profit fell by Rs 104.76 m
Published 02 Nov, 2004 12:00am
PNSC posts Rs 123.93 million profit in first quarter

PNSC posts Rs 123.93 million profit in first quarter

Pakistan National Shipping Corporation (PNSC) has gained an operating profit of Rs 123.93 million in the first quarter ended September 30, 2004. According to Corporation's un-audited report, the national flag carrier's operating profit fell by Rs 104.76 m
Published 02 Nov, 2004 12:00am
Egyptian firm acquires 51 percent stake in Chakwal Cement

Egyptian firm acquires 51 percent stake in Chakwal Cement

Egypt's Orascom Construction Industries (OCI) has completed negotiations to acquire a 51 percent stake in Chakwal Cement Company Limited (CCCL), the firm said in a statement sent to Reuters on Monday. The company added it will build a cement plant between
Published 02 Nov, 2004 12:00am
Egyptian firm acquires 51 percent stake in Chakwal Cement

Egyptian firm acquires 51 percent stake in Chakwal Cement

Egypt's Orascom Construction Industries (OCI) has completed negotiations to acquire a 51 percent stake in Chakwal Cement Company Limited (CCCL), the firm said in a statement sent to Reuters on Monday. The company added it will build a cement plant between
Published 02 Nov, 2004 12:00am
Egyptian firm acquires 51 percent stake in Chakwal Cement

Egyptian firm acquires 51 percent stake in Chakwal Cement

Egypt''s Orascom Construction Industries (OCI) has completed negotiations to acquire a 51 percent stake in Chakwal Cement Company Limited (CCCL), the firm said in a statement sent to Reuters on Monday. The company added it will build a cement plant betwee
Published 02 Nov, 2004 12:00am
21 hurt in grenade attack in Indian occupied Kashmir

21 hurt in grenade attack in Indian occupied Kashmir

Twenty-one civilians were injured on Monday when alleged Mujahideen hurled a grenade at a occupation security force patrol in a busy market in Indian occupied Kashmir, which missed, police said. Five of those injured in the attack at Shopian, 50 kilometre
Published 02 Nov, 2004 12:00am
21 hurt in grenade attack in Indian occupied Kashmir

21 hurt in grenade attack in Indian occupied Kashmir

Twenty-one civilians were injured on Monday when alleged Mujahideen hurled a grenade at a occupation security force patrol in a busy market in Indian occupied Kashmir, which missed, police said. Five of those injured in the attack at Shopian, 50 kilometre
Published 02 Nov, 2004 12:00am
Mansur Khan elevated as SBP deputy governor

Mansur Khan elevated as SBP deputy governor

The Federal Government has appointed Mansur-ur-Rehman Khan as Deputy Governor, State Bank of Pakistan. Before his elevation, Mansur was Executive Director (Banking) in SBP. Mansur-ur-Rehman Khan's distinguished and illustrious central banking career sprea
Published 02 Nov, 2004 12:00am
Mansur Khan elevated as SBP deputy governor

Mansur Khan elevated as SBP deputy governor

The Federal Government has appointed Mansur-ur-Rehman Khan as Deputy Governor, State Bank of Pakistan. Before his elevation, Mansur was Executive Director (Banking) in SBP. Mansur-ur-Rehman Khan's distinguished and illustrious central banking career sprea
Published 02 Nov, 2004 12:00am
Investors interested in 2000MW power project in Thar

Investors interested in 2000MW power project in Thar

A delegation comprising Benway Corporation USA President, Peter O'Connell, Usama Harris Khan & Company Chairman, Khalid Abbas Khan Niazi and Muhammad Sualeh of Mercury Trading called on Sindh Minister for Mineral Development, Irfanullah Marwat on Monday a
Published 02 Nov, 2004 12:00am
Imported urea price fixed at Rs 450 per bag

Imported urea price fixed at Rs 450 per bag

In a bid to foil hoarding by the local manufacturers and dealers, the Economic Co-ordination Committee (ECC) of the Cabinet has fixed price of imported urea for the growers at Rs 450 per bag. The first vessel carrying 15000 tonnes urea arrived at the Kara
Published 02 Nov, 2004 12:00am
Imported urea price fixed at Rs 450 per bag

Imported urea price fixed at Rs 450 per bag

In a bid to foil hoarding by the local manufacturers and dealers, the Economic Co-ordination Committee (ECC) of the Cabinet has fixed price of imported urea for the growers at Rs 450 per bag. The first vessel carrying 15000 tonnes urea arrived at the Kara
Published 02 Nov, 2004 12:00am
Provinces told to make water strategies on daily basis

Provinces told to make water strategies on daily basis

The Indus River System Authority (Irsa) has expressed its satisfaction on the share of water utilised by the provinces during previous month. The authority in its meeting held, here on Monday to review the water situation for Rabi season, also appreciated
Published 02 Nov, 2004 12:00am
Provinces told to make water strategies on daily basis

Provinces told to make water strategies on daily basis

The Indus River System Authority (Irsa) has expressed its satisfaction on the share of water utilised by the provinces during previous month. The authority in its meeting held, here on Monday to review the water situation for Rabi season, also appreciated
Published 02 Nov, 2004 12:00am
Revenue target to be raised to cover oil impact

Revenue target to be raised to cover oil impact

The Central Board of Revenue (CBR) will revise revenue collection target upward in current financial year to help the government in meeting the deficit due to subsidising petroleum prices touching $55 per barrel in the international market. On the other h
Published 02 Nov, 2004 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 02 Nov, 2004 12:00am
Revenue target to be raised to cover oil impact

Revenue target to be raised to cover oil impact

The Central Board of Revenue (CBR) will revise revenue collection target upward in current financial year to help the government in meeting the deficit due to subsidising petroleum prices touching $55 per barrel in the international market. On the other h
Published 02 Nov, 2004 12:00am
Prime Minister stresses resolution of Kashmir issue for progress

Prime Minister stresses resolution of Kashmir issue for progress

Prime Minister Shaukat Aziz reiterating Pakistan's principled stand on Indian occupied Kashmir issue said that there is a need to resolve the core issue of occupied Jammu and Kashmir through peaceful means and according to the aspirations of Kashmiri peop
Published 02 Nov, 2004 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (November 01, 2004).

Published 02 Nov, 2004 12:00am
EMC panel approves report on cross-border securities activities

EMC panel approves report on cross-border securities activities

The Emerging Markets Committee (EMC) Advisory Board of the International Organisation of Securities Commissions (IOSCO) has approved the final report of the Working Group-e (WG3) on 'Cross-border Activities of Securities Firms in Emerging Markets'.
Published 02 Nov, 2004 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus Announcements by Companies listed on the Karachi Stock Exchange.

Published 02 Nov, 2004 12:00am
Sindh and Punjab mills begin sugarcane crushing

Sindh and Punjab mills begin sugarcane crushing

Twenty-one sugar mills have commenced their crushing season, while the remaining mills will start crushing within couple of days. According to sources, the growers have started harvesting of cane following the issue of indent to sugar mills and the cane h
Published 02 Nov, 2004 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 02 Nov, 2004 12:00am
Consensus needed on UNSC expansion: Kasuri

Consensus needed on UNSC expansion: Kasuri

Pakistan believes that the expansion of the UN Security Council was an issue of major political significance for the international community and should be tackled with caution and consensus.
Published 02 Nov, 2004 12:00am
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