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Print - 2004-12-12
Malaysian deputy premier hits back at Anwar for remarks

Malaysian deputy premier hits back at Anwar for remarks

Malaysian Deputy Prime Minister Najib Razak has hit out at opposition figure Anwar Ibrahim, after the latter suggested that Malaysia was less democratic than Indonesia. "Politics is politics. At the end of the day, what is important is the image of the co
Published 12 Dec, 2004 12:00am
Philippine rescuers see no new survivors from storm

Philippine rescuers see no new survivors from storm

Hopes of pulling more survivors from a building that collapsed 12 days ago in a fierce storm in the northern Philippines dwindled on Saturday as private rescuers ended work, saying they had explored all possible areas. Rain fell as miners from private fir
Published 12 Dec, 2004 12:00am
Funeral mass to be held for British hostage Hassan

Funeral mass to be held for British hostage Hassan

A funeral mass is to be held in London on Saturday for British-Iraqi hostage Margaret Hassan, who is believed to have been killed by her captors in Iraq. The Roman Catholic funeral service will be held at 1230 GMT at Westminster Cathedral and attended by
Published 12 Dec, 2004 12:00am
UK Black Watch troops home for Christmas from Iraq

UK Black Watch troops home for Christmas from Iraq

About 200 soldiers from Britain's Black Watch regiment have arrived back in the UK for a Christmas break after their tour of duty in Iraq. The troops landed at the RAF Lyneham airbase in Chippenham, southern England early on Saturday and will travel to Ba
Published 12 Dec, 2004 12:00am
Afghan minister wants nearly 2,000 NGOs closed

Afghan minister wants nearly 2,000 NGOs closed

An Afghan minister said on Saturday he wanted to shut down nearly 2,000 non-government organisations (NGOs) active in Afghanistan because they flout the rules and laws of the country. Planning Minister Ramazan Bashardoost's remarks prompted an NGO umbrell
Published 12 Dec, 2004 12:00am
The Netherlands buries Prince Bernhard with military honours

The Netherlands buries Prince Bernhard with military honours

Prince Bernhard, the father of Queen Beatrix of the Netherlands, was laid to rest on Saturday while a trumpeter played "The Last Post" in a religious ceremony with military honours. Bernhard, who was loved among the Dutch for his wartime military service,
Published 12 Dec, 2004 12:00am
Germany's Commerzbank eyes Postbank

Germany's Commerzbank eyes Postbank

The head of Germany's fourth largest bank Commerzbank, Klaus-Peter Mueller, has expressed interest in a merger with postal bank Postbank. In an interview for the German Sunday newspaper Welt am Sonntag Mueller said: "If we merged with Postbank we would be
Published 12 Dec, 2004 12:00am
President and Prime Minister review economy, security

President and Prime Minister review economy, security

President Pervez Musharraf and Prime Minister Shaukat Aziz met on Saturday and reviewed the security situation, state of economy and political environment in the country. At their meeting in Rawalpindi they strongly condemned the Friday bomb blast in Quet
Published 12 Dec, 2004 12:00am
President and Prime Minister review economy, security

President and Prime Minister review economy, security

President Pervez Musharraf and Prime Minister Shaukat Aziz met on Saturday and reviewed the security situation, state of economy and political environment in the country. At their meeting in Rawalpindi they strongly condemned the Friday bomb blast in Quet
Published 12 Dec, 2004 12:00am
No hike in oil and LPG prices till June

No hike in oil and LPG prices till June

Minister of State for Petroleum and Natural Resources Muhammad Naseer Mengal on Saturday said that the government would not allow upward revision of oil and LPG prices, at least for the remaining months of the current fiscal year. The minister gave this a
Published 12 Dec, 2004 12:00am
No hike in oil and LPG prices till June

No hike in oil and LPG prices till June

Minister of State for Petroleum and Natural Resources Muhammad Naseer Mengal on Saturday said that the government would not allow upward revision of oil and LPG prices, at least for the remaining months of the current fiscal year. The minister gave this a
Published 12 Dec, 2004 12:00am
China agrees to import Pakistani rice

China agrees to import Pakistani rice

China has agreed to import rice, especially basmati, from Pakistan, and a protocol would be signed in the presence of the Prime Ministers of the two countries following their formal talks in Beijing on December 15, 2004, sources told Business Recorder
Published 12 Dec, 2004 12:00am
China agrees to import Pakistani rice

China agrees to import Pakistani rice

China has agreed to import rice, especially basmati, from Pakistan, and a protocol would be signed in the presence of the Prime Ministers of the two countries following their formal talks in Beijing on December 15, 2004, sources told Business Recorder
Published 12 Dec, 2004 12:00am
Grameen Bank founder for poor-friendly lending policy

Grameen Bank founder for poor-friendly lending policy

Banks have been designed to make the rich richer and have no option for poor to get benefit from it, said Professor Muhammad Yunus, the man who laid the foundation of the world famous 'Grameen Bank' and is still working as its Managing Director. The poor
Published 12 Dec, 2004 12:00am
Grameen Bank founder for poor-friendly lending policy

Grameen Bank founder for poor-friendly lending policy

Banks have been designed to make the rich richer and have no option for poor to get benefit from it, said Professor Muhammad Yunus, the man who laid the foundation of the world famous 'Grameen Bank' and is still working as its Managing Director. The poor
Published 12 Dec, 2004 12:00am
All set for FTAs with Iran and Sri Lanka

All set for FTAs with Iran and Sri Lanka

Pakistan is all set to sign free trade agreements with Iran and Sri Lanka, while talks for FTA with China would be initiated during Prime Minister's visit to that country. This was stated by Commerce Minister Humayun Akhtar at a press conference at Export
Published 12 Dec, 2004 12:00am
All set for FTAs with Iran and Sri Lanka

All set for FTAs with Iran and Sri Lanka

Pakistan is all set to sign free trade agreements with Iran and Sri Lanka, while talks for FTA with China would be initiated during Prime Minister's visit to that country. This was stated by Commerce Minister Humayun Akhtar at a press conference at Export
Published 12 Dec, 2004 12:00am
Ziquad moon not likely to be sighted today

Ziquad moon not likely to be sighted today

The Ziquad moon may not be sighted on Sunday. Ziquad One, 1425 AH, therefore, will fall on Tuesday, according to astronomical parameters. The moon will cross the conjunction line at 1829 Pakistan Standard Time (PST) on Sunday.
Published 12 Dec, 2004 12:00am
Ziquad moon not likely to be sighted today

Ziquad moon not likely to be sighted today

The Ziquad moon may not be sighted on Sunday. Ziquad One, 1425 AH, therefore, will fall on Tuesday, according to astronomical parameters. The moon will cross the conjunction line at 1829 Pakistan Standard Time (PST) on Sunday.
Published 12 Dec, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Irsa rejects Punjab's water shortage estimates

Irsa rejects Punjab's water shortage estimates

The Indus River System Authority (Irsa) and three provinces - Sindh, NWFP and Balochistan - on Saturday did not agree with Punjab's claim that the country would face over 50 percent water shortage, instead of 47 percent, during the current Rabi season. Th
Published 12 Dec, 2004 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Irsa rejects Punjab's water shortage estimates

Irsa rejects Punjab's water shortage estimates

The Indus River System Authority (Irsa) and three provinces - Sindh, NWFP and Balochistan - on Saturday did not agree with Punjab's claim that the country would face over 50 percent water shortage, instead of 47 percent, during the current Rabi season. Th
Published 12 Dec, 2004 12:00am
The Weather

The Weather

The weather report on Saturday (December 11) and the forecast for Sunday (December 12, 2004).
Published 12 Dec, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Saturday (December 11) and for Sunday (December 12, 2004).
Published 12 Dec, 2004 12:00am
Navy inducts Hovercraft, military assault boat

Navy inducts Hovercraft, military assault boat

Pakistan Navy has achieved another milestone in defence capability by introducing a 'Hovercraft' and 'military assault boat' into its marine force. A ceremony to mark this occasion was held at PNS Himalaya here at Manora Island on Saturday morning. The Ch
Published 12 Dec, 2004 12:00am
Navy inducts Hovercraft, military assault boat

Navy inducts Hovercraft, military assault boat

Pakistan Navy has achieved another milestone in defence capability by introducing a 'Hovercraft' and 'military assault boat' into its marine force. A ceremony to mark this occasion was held at PNS Himalaya here at Manora Island on Saturday morning. The Ch
Published 12 Dec, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
THE RUPEE: 10 paisa fall versus dollar in kerb

THE RUPEE: 10 paisa fall versus dollar in kerb

The rupee on Saturday lost 10 paisa against dollar in the open market for buying and selling at Rs 60.20 and Rs 60.30 per dollar, dealers said. The demand for dollars increased in the market for year-end payments, dealers said. It seemed that the local cu
Published 12 Dec, 2004 12:00am
THE RUPEE: 10 paisa fall versus dollar in kerb

THE RUPEE: 10 paisa fall versus dollar in kerb

The rupee on Saturday lost 10 paisa against dollar in the open market for buying and selling at Rs 60.20 and Rs 60.30 per dollar, dealers said. The demand for dollars increased in the market for year-end payments, dealers said. It seemed that the local cu
Published 12 Dec, 2004 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on December 04, 2004.

Published 12 Dec, 2004 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on December 04, 2004.

Published 12 Dec, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (December 11, 2004).
Published 12 Dec, 2004 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (December 11, 2004).

Published 12 Dec, 2004 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 12 Dec, 2004 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 12 Dec, 2004 12:00am
Brazilian sugar vessels line-up falls

Brazilian sugar vessels line-up falls

The line-up of vessels waiting to load sugar in Brazil's ports fell sharply to 37 from 51 last week, shipping agent Williams said Wednesday. In a weekly report, it said 20 vessels were lined up in the southern port of Santos, down from 28 last week. At Ma
Published 12 Dec, 2004 12:00am
France reviews privatisation of DCN shipyard

France reviews privatisation of DCN shipyard

France's defence minister presented a bill to the cabinet on Wednesday that would allow the sale of up to 49 percent of the capital in state-owned shipyard DCN, bringing the widely awaited sell-off a step closer. The development is a key step towards remo
Published 12 Dec, 2004 12:00am
PSA moves 16 percent more containers

PSA moves 16 percent more containers

The volume of containers moved at the local and overseas terminals of Singapore port operator PSA International Pte Ltd rose 16.4 percent in the first 11 months of 2004 from the same period a year earlier. Global container volumes hit 30.24 million twenty
Published 12 Dec, 2004 12:00am
United Arab Shipping eyes record net

United Arab Shipping eyes record net

United Arab Shipping Company (UASC), owned by five Gulf Arab states and Iraq, reiterated on Thursday that it expected record net earnings in excess of $100 million in both 2004 and 2005. "Financial results indicate that the company will achieve record res
Published 12 Dec, 2004 12:00am
Asian freight rates hold near record

Asian freight rates hold near record

Panamax dry bulk rates held just below record-highs this week, supported by robust Chinese demand for minerals and grains. Modern panamax rates for the benchmark US Gulf to Japan route were quoted on Tuesday at $70-$75 a tonne for late December delivery,
Published 12 Dec, 2004 12:00am
Daewoo shipbuilding to boost LNG carrier output

Daewoo shipbuilding to boost LNG carrier output

Daewoo Shipbuilding and Marine Co, the world's second-biggest shipbuilder, said on Friday it would expand its capacity to build liquefied natural gas carriers to 14 ships per year from the current eight by 2006. Daewoo Shipbuilding, which has logged $3.5
Published 12 Dec, 2004 12:00am
Activity at Karachi Qasim ports

Activity at Karachi Qasim ports

The Karachi Port handled 70,028 tonnes of cargo including 64,189 tonnes import and 5,839 tonnes export cargo during last 24 hours ending at 0700 hours on Saturday. The cargo comprised of 30,028 tonnes dry and 40,000 tonnes liquid cargo. MV Eax Sanctity sa
Published 12 Dec, 2004 12:00am
Oracle moves quarterly earnings forward

Oracle moves quarterly earnings forward

Business software maker Oracle Corp on Friday said it will release its second-quarter earnings before US markets open on Monday, instead of Thursday, due to issues related to its take-over bid for PeopleSoft Inc that may come up in court later on Monday.
Published 12 Dec, 2004 12:00am
Nissan starts development of global strategic car

Nissan starts development of global strategic car

Japanese auto maker Nissan Motor Co Ltd has started developing a global strategic vehicle that will be built at nine plants around the world and sold in 27 countries and regions, a daily said Saturday. Nissan aims to sell 1.6 million units of the 1.5-lite
Published 12 Dec, 2004 12:00am
China Aviation owes 12 banks $152 million

China Aviation owes 12 banks $152 million

China Aviation Oil (Singapore) has sunk at least $152 million into debt since losing $550 million in oil derivative markets, court documents showed on Saturday, deepening one of Singapore's worst trading scandals. The Singapore-listed arm of China's domin
Published 12 Dec, 2004 12:00am
Telecom Malaysia to invest $300 million in Bangladesh

Telecom Malaysia to invest $300 million in Bangladesh

Telecom Malaysia International Bangladesh (TMIB), the country's second largest cellular phone operator, said on Saturday it will invest $300 million by 2006. "This investment will be for network expansion and upgradation of systems with latest technologie
Published 12 Dec, 2004 12:00am
Egypt says no date yet for gas deal with Israel

Egypt says no date yet for gas deal with Israel

Egyptian and Israeli firms are in talks on a deal to supply Egyptian gas to Israel but there is no date yet for reaching agreement, Egyptian Oil Minister Sameh Fahmy said on Saturday. Egypt has been in talks to supply gas to Israel for years with little s
Published 12 Dec, 2004 12:00am
Kuwait's first private airline to start in February

Kuwait's first private airline to start in February

Kuwait's first private airline, no-frills al-Jazeera Airways, said on Saturday it would begin operations in February with two leased Airbus jets. "Al-Jazeera Airways will begin operations in February with two Airbus 320-200 which will be rented for 6 to 8
Published 12 Dec, 2004 12:00am
Iran expects WTO success after nuclear deal

Iran expects WTO success after nuclear deal

Iran will be looking for concrete EU support and a slight softening of United States policy when the World Trade Organisation (WTO) meets Monday to consider the Islamic republic's membership application. The question has been raised at the WTO's General C
Published 12 Dec, 2004 12:00am
China retail sales expected to rise

China retail sales expected to rise

China's retail sales in 2004 are expected to rise 13 percent over last year and are seen to climb more than 10 percent next year, the Ministry of Commerce said. After adjusting for inflation, sales would be up 9.8 percent, 0.6 percentage points faster tha
Published 12 Dec, 2004 12:00am
'Reliance group may split'

'Reliance group may split'

Indian television reported on Saturday that a feud between the Ambani brothers, who run India's yarn-to-telecoms Reliance conglomerate, looked likely to result in a split in the group. "News coming from the Anil Ambani camp indicates that the two alternat
Published 12 Dec, 2004 12:00am
China lifts import restrictions on steel and other commodities

China lifts import restrictions on steel and other commodities

China announced Saturday it has lifted restrictions on the import of steel, natural rubber, wool, acrylic fibers and plywood according to its obligation to the World Trade Organisation, state media said. "All eligible enterprises can import the five commo
Published 12 Dec, 2004 12:00am
Central bank policies can help beat stubborn prices: ECB

Central bank policies can help beat stubborn prices: ECB

A central bank can tackle stubborn inflation by following a stable monetary policy regime that keeps price expectations low, European Central Bank Vice President Lucas Papademos said on Saturday. A two-year ECB project examining why inflation can prove so
Published 12 Dec, 2004 12:00am
Ukraine revises 2005 economic targets after crisis

Ukraine revises 2005 economic targets after crisis

Ukraine's government revised its 2005 budget forecasts on Saturday to take account of a political crisis that disrupted economic activity, lowering its growth forecast and raising projections for inflation and the deficit. Finance Minister Mykola Azarov,
Published 12 Dec, 2004 12:00am
Indian reserves vault to record $130.7 billion

Indian reserves vault to record $130.7 billion

India's foreign exchange reserves vaulted $3.8 billion in the week through December 3 to a record $130.72 billion, as foreign capital poured into Asia's fourth-biggest economy and the dollar slid against the euro. The highest weekly increase in 2004 makes
Published 12 Dec, 2004 12:00am
Opec seeks to quell doubts over oil cut conviction

Opec seeks to quell doubts over oil cut conviction

Opec oil producers on Saturday said they had already moved to rein in excess supply, a day after doubts over the group's resolve to cut sent prices into a tailspin. Oil prices fell 4 percent on Friday to the lowest level since July despite the cartel's ag
Published 12 Dec, 2004 12:00am
Russian government reform may slow grain exports

Russian government reform may slow grain exports

Russia's grain exports in the next few months may slow due to the elimination of a government body in charge of issuing quality certificates, unless the government urgently finds an efficient substitute. In October, Russia's wheat exports decreased to 824
Published 12 Dec, 2004 12:00am
Brazilian soya crop seen 63.6 million tonnes

Brazilian soya crop seen 63.6 million tonnes

Brazil's new soyabean crop, which is nearly finished planting, is seen at a record 63.6 million tonnes, up from the 49.9 million harvested last season, private analysts Safaris e Merced said on Friday. Safaris said its latest forecast is up from the 63.2
Published 12 Dec, 2004 12:00am
Big global grain crop to keep pressure on prices

Big global grain crop to keep pressure on prices

Big global grain and oilseed crops will probably keep pressure on Chicago Board of Trade grains and soya futures prices for a year or more, traders and analysts said on Friday. In its December global supply/demand and US report on Friday, the US Departmen
Published 12 Dec, 2004 12:00am
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