Benchmark cocoa futures eased on Wednesday on trade and arbitrage selling amid a firm dollar, while fund buying and talk of a farmers' strike in leading cocoa grower Ivory Coast limited losses, traders said. "There were some good buyers at the start of th
In a major policy shift in the preparation of Federal Budget 2005-06, the Central Board of Revenue (CBR) has decided to finalise "customs budget" in March. The customs budget would be made public three months prior to the announcement of the federal budge
March and May spring wheat futures at the Minneapolis Grain Exchange fell to new contract lows Wednesday morning, traders said. Weak cash markets, bear spreading and long liquidation in the March contract pressured the March/May spread to even money in ea
In a major policy shift in the preparation of Federal Budget 2005-06, the Central Board of Revenue (CBR) has decided to finalise "customs budget" in March. The customs budget would be made public three months prior to the announcement of the federal budge
Kenichi Ayukawa, Managing Director Pak-Suzuki Motor Co Ltd met Shaukat Aziz Prime Minister and handed over cheque of Rs 1 million for President Tsunami Relief Fund and Prime Minister Balochistan and NWFP Disaster Relief Funds. Ayukawa also briefed the Pri
The State Bank of Pakistan (SBP) on Thursday moped up excess liquidity, but the market remained liquid, said market punters. The State Bank raised Rs 39.6 billion through Open Market Operation (OMO) at 3.95 percent per annum. The money was picked up for t
Coca-Cola Enterprises Inc, the world's largest bottler of Coca-Cola drinks, on Thursday reported a 36 percent drop in quarterly earnings due largely to weak soft drink sales in North America, sending its shares down more than 4 percent. Coke Enterprises,
Bulls dominated the proceedings and under the lead of Pakistan Petroleum Ltd, the index jumped to new heights with volume centred around telecom, oil and gas sectors. The KSE-100 index registered an increase of 71.18 points, or 0.95 percent, to 7579.98 as
Coca-Cola Enterprises Inc, the world's largest bottler of Coca-Cola drinks, on Thursday reported a 36 percent drop in quarterly earnings due largely to weak soft drink sales in North America, sending its shares down more than 4 percent. Coke Enterprises,
Bulls dominated the proceedings and under the lead of Pakistan Petroleum Ltd, the index jumped to new heights with volume centred around telecom, oil and gas sectors. The KSE-100 index registered an increase of 71.18 points, or 0.95 percent, to 7579.98 as
Morocco's national flag carrier Royal Air Maroc (RAM) will soon launch an airline company with six Central African countries, a move set to expand further its presence in Africa, a company manager said on Thursday. The creation of Air Cemac aims at breaki
Bulls dominated the proceedings and under the lead of Pakistan Petroleum Ltd, the index jumped to new heights with volume centred around telecom, oil and gas sectors. The KSE-100 index registered an increase of 71.18 points, or 0.95 percent, to 7579.98 as
Hewlett-Packard Co on Wednesday posted a slight rise in quarterly profit, fuelled by revenue gains across all of its businesses, and its shares rose more than 2 percent in after-hours trade. The company, which last week ousted its controversial Chief Exec
A World Bank team, comprising John W. Wall, Country Director and Abid Hasan, met economic team of the government led by Adviser to the Prime Minister on Finance and Revenue Dr Salman Shah and discussed bank's proposed assistance strategy for 2006-09 here
Hewlett-Packard Co on Wednesday posted a slight rise in quarterly profit, fuelled by revenue gains across all of its businesses, and its shares rose more than 2 percent in after-hours trade. The company, which last week ousted its controversial Chief Exec
A World Bank team, comprising John W. Wall, Country Director and Abid Hasan, met economic team of the government led by Adviser to the Prime Minister on Finance and Revenue Dr Salman Shah and discussed bank's proposed assistance strategy for 2006-09 here
Total SA earned more than a million euros an hour in 2004, as runaway oil prices and strong refining margins lifted it to a record French corporate profit of nearly 100 billion euros ($13 billion) Total, among the most generous in the industry for sharing
A World Bank team, comprising John W. Wall, Country Director and Abid Hasan, met economic team of the government led by Adviser to the Prime Minister on Finance and Revenue Dr Salman Shah and discussed bank''s proposed assistance strategy for 2006-09 here
Total SA earned more than a million euros an hour in 2004, as runaway oil prices and strong refining margins lifted it to a record French corporate profit of nearly 100 billion euros ($13 billion) Total, among the most generous in the industry for sharing
President General Pervez Musharraf and Malaysian Prime Minister Dato Seri Abdullah Ahmad Badawi discussed ways to strengthen bilateral relations here on Thursday. The president received the Malaysian prime minister at the Aiwan-e-Sadr. Both the leaders al
A pain reliever called Mobic showed an "increased risk" for heart attacks in preliminary data, a veteran US Food and Drug Administration scientist told an FDA advisory panel on Thursday. The drug, made by privately held Boehringer Ingelheim Pharmaceutical
President General Pervez Musharraf and Malaysian Prime Minister Dato Seri Abdullah Ahmad Badawi discussed ways to strengthen bilateral relations here on Thursday. The president received the Malaysian prime minister at the Aiwan-e-Sadr. Both the leaders al
Wal-Mart Stores Inc, the world's biggest retailer, on Thursday said quarterly profit rose 16 percent on strong sales growth from store expansion, beating Wall Street expectations. But the company, which opened 389 new stores during the fiscal year, said t
Pakistan and Malaysia have agreed for mutual investment in power, water, construction and electricity transmission sectors and to reduce current trade imbalance between both the countries. The official discussions were held with federal Water and Power Mi
Wal-Mart Stores Inc, the world's biggest retailer, on Thursday said quarterly profit rose 16 percent on strong sales growth from store expansion, beating Wall Street expectations. But the company, which opened 389 new stores during the fiscal year, said t
A high-level study group in India is holding its meeting next Tuesday to consider a constructive and co-operative relationship with Pakistan in various fields. Indian Foreign Minister Natwar Singh stated this while addressing a gathering of media persons,
Brazil's retail sales jumped 11.43 percent in December from the same month a year earlier - nearly double the size of the rise in November - showing the economy is still strong despite recent interest rate hikes. For the whole of last year, retail sales r
A high-level study group in India is holding its meeting next Tuesday to consider a constructive and co-operative relationship with Pakistan in various fields. Indian Foreign Minister Natwar Singh stated this while addressing a gathering of media persons,
After staying range-bound for the past few weeks, cotton prices have depicted steadiness and stability and recorded gains of about Rs 25 to Rs 50 per maund (37.32 kgs) in the ready market recently. Consequently, the Karachi Cotton Association (KCA) though
Bullish trend continued at Islamabad Stock Exchange (ISE) where genuine traders and market players injected fresh investment in trend-setters amid increase in index. ISE network index was up by 49.16 points as the rate-based indicator moved from 14,307.85
After staying range-bound for the past few weeks, cotton prices have depicted steadiness and stability and recorded gains of about Rs 25 to Rs 50 per maund (37.32 kgs) in the ready market recently. Consequently, the Karachi Cotton Association (KCA) though
Bullish trend continued at Islamabad Stock Exchange (ISE) where genuine traders and market players injected fresh investment in trend-setters amid increase in index. ISE network index was up by 49.16 points as the rate-based indicator moved from 14,307.85
A few transactions were witnessed on the cotton market on Thursday as holiday mood prevailed on account of ensuing Ashura, dealers said. The official spot rate after maintaining a stable trend during the week, posted fresh gain of Rs 25 to Rs 2175, withou
Buying spree continued on Lahore Stock Exchange (LSE) for the fourth consecutive session with what brokers said a 'fierce movement' in banks and petroleum sectors, which outperformed, enabling the index to breach 3800-point level. The LSE-25 index registe
Both the futures moved both ways on the forward cottonseed oilcake market amid sluggish trading, dealers said. The March vaida commenced with 50 paisa gain at Rs 426.50 and that proved to be day's best at the same level. Later, it lost rupees two to be da
Buying spree continued on Lahore Stock Exchange (LSE) for the fourth consecutive session with what brokers said a 'fierce movement' in banks and petroleum sectors, which outperformed, enabling the index to breach 3800-point level. The LSE-25 index registe
US Gulf FOB corn and soyabean basis offers were mostly steady on Wednesday, with fresh Chinese interest supporting nearby soya prices, traders said. Barge freight rates were higher on the Mississippi, Ohio and Illinois rivers amid tight supplies. Offers f
The United States, which refused to participate in a United Nations-backed global plan to slow global warming, said on Tuesday it will spend nearly $5.8 billion in 2005 on research and programs addressing climate change. The Kyoto protocol was signed by 1
Wheat futures at the Chicago Board of Trade closed lower on Wednesday on a setback from the fund short-covering rally on Monday, traders said. Fund selling on Wednesday was estimated at 2,000 to 3,000 lots and analysts and traders continue to cite the ple
Seven in 10 Europeans say they believe in God but regional disparities abound, with 97 percent of Poles but only 37 percent of Czechs saying they believe, according to an opinion poll released Wednesday. The survey, to appear in the February 24 edition of
Unhusked rice output in Indonesia will drop slightly to 54 million tonnes this year from 54.34 million in 2004, the agriculture minister said on Thursday, adding this would not be a big enough drop to lift a ban on rice imports. "If we can get 54 million,
Britain has emerged as the world's biggest market for downloading pirated TV, driven by tech-savvy fans who are unwilling to wait for popular US shows such as "Desperate Housewives". Britain's status as a TV downloading hotspot, revealed in a study by UK
Brazil's 2005/06 sugarcane crop that will begin harvesting in April is seen at a record 358 million tonnes, up 9.3 percent from 327.5 million for the previous crop, analysts Datagro said on Thursday. If Datagro's first forecast of the new crop is confirme
BP plc plans to set up a "platform" to improve relations between the EU and Russia and dispel the country's image as a "dark and hostile place" to do business, BP chief executive John Browne said on Thursday. BP is the largest single international investo
Hard red winter wheat spot basis bids in the US Plains flattened out on Thursday, holding mostly steady around the Plains amid some light demand and a slowdown in country sales, traders and merchants said. The Gulf track basis dropped 4 cents a bushel, bu
Mobile networks market growth will slow to about 5 percent this year from 12 percent in 2004, then average 5 to 8 percent over the next four to five years, the head of Motorola's networks unit said on Thursday. Adrian Nemcek told Reuters in an interview a
The Karachi Port handled 105,499 tonnes of cargo including 81,896 tonnes import and 23,603 tonnes export inclusive of 3,545 containers, during last 24 hours ending at 0700 hours on Thursday. The cargo comprised of 49,494 tonnes dry cargo including 34,097
Belgian graphics and imaging group Agfa-Gevaert said on Thursday it had won a contract to provide a Canadian healthcare organisation with a network of diagnostic equipment. Agfa said in a statement it would provide Capital Health in the province of Albert
Singapore bunker prices rose on Thursday, tracking marginally higher fuel oil cargo values. Bunker fuel of 380-centistoke (cst) grade was pegged at $193-$195 a tonne, up $1 from the previous trading day, widening the premium to cargo levels by 25 cents to
The pilot project of Customs Administrative Reforms (CARE) is to be launched in Karachi by the end of March so as to provide hassle-free goods clearance services to the business and industrialist community. This was stated by the Central Board of Revenue
Spot soyabean bids were steady to weak in the interior US Midwest early on Thursday, with light movement noted in the west, while corn bids were mixed and sales were scattered, merchandisers said. Nebraska processors trimmed the soyabean basis by 2 cents
Federal Commerce Minister Humayun Akhtar Khan said on Thursday that Pakistan has a liberal trade regime which could be of great attraction for forward thinking companies of the world. He stated this during a meeting with Malaysian Trade Minister Ms DatoSe
The Fiber Link Around the Globe (Flag) has refused to slash tariff it has shared with Pakistan Telecommunication Company Limited (PTCL) thus backing out of its earlier agreement with the telecom utility. It is reliably learnt here on Thursday. As per the
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
The Fiber Link Around the Globe (Flag) has refused to slash tariff it has shared with Pakistan Telecommunication Company Limited (PTCL) thus backing out of its earlier agreement with the telecom utility. It is reliably learnt here on Thursday. As per the
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
Three foreigners were killed when some gunmen opened fire on them at Kurram Kot village near Mir Ali in North Waziristan Agency, reports reaching here from the tribal area, said here on Thursday. In the ambush, two Uzbeks and an Arab were killed, while an
Indian External Affairs Minister Natwar Singh on Thursday said a foundation of 'positive sentiment and hope' laid in bilateral relations of Pakistan and India and was capable of yielding more positive results. He was talking to newsmen here at Delhi airpo
A large number of contractual primary school teachers from different cities of interior Sindh on Thursday staged a protest demonstration in front of the Karachi Press Club. They also staged a sit-in and blocked the road for more than two hours. Holding ba
The universal birth registration campaign has been launched here by the Plan Pakistan, an international community development organisation focussed on child rights without religious, political and government affiliation. It works in more than 40 countries
The Japanese government has approved Rs 770 million grant for two developmental projects to be launched for improvement of irrigation and sanitation system in Punjab. Japanese ambassador Nobuaki Tanaka and economic affair division (EAD) secretary Shuja Sh
Federal Minister for Science and Technology Chaudhry Nouraiz Shakoor has said that Pakistan People's Party Patriot would participate in the forthcoming local government elections and would start nomination of his office-bearers across the Punjab province
Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Thursday (February 17, 2005).
Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon has said that a detailed briefing would be given to the Prime Minister on development of mineral sector soon. He said this while presiding over a meeting of the provincial minister
The government has notified February 19 and 20 (Saturday and Sunday) being 9th and 10th Moharram-ul-Haram as closed holidays on the occasion of Ashura. "In pursuance of the announcement of the Ruet-e-Hilal Committee, it is notified for publi
In order to maintain peace during Ashura-e-Muharram, Punjab government has banned pillion riding in some 18 sensitive districts of the province from February 17. The districts include Lahore, Multan, Jhang, Bahawalpur, Faisalabad, Dera Ghazi Khan e
Six persons of the same family died when roof of their house caved in on late Wednesday night at Tehkal Payyan area on university road. The deceased, including three minors aged between four to seven years, were sleeping in their house when the roof of th
Pakistan is an ideal country for investment with its telecom sector offering irresistible business opportunities for the potential investors anywhere in the world. Malaysia's leading telecom company Redtone Telecommunications Group Managing Director Wei C
Pakistan's marble export to UK, USA, Far East and the Middle East has increased about 100 percent due to favorable government policies and about 1000 percent further increase could be made by exporting semi-finished raw marble to China, Italy and India. T
The meeting of the Union Bank Limited board of directors was held on February 15, 2005 in Lahore which was chaired by its chairman Mueen Afzat. The board reviewed financial results and showed its satisfaction over the performance of the bank and its finan
The meeting of the Union Bank Limited board of directors was held on February 15, 2005 in Lahore which was chaired by its chairman Mueen Afzat. The board reviewed financial results and showed its satisfaction over the performance of the bank and its finan
The Standard Chartered PLC announced in London on Thursday its 2004 group annual results, unveiling pre-tax profits of $2,158 million ahead of most analysts' forecasts on revenues of $5837 million. The group's net revenues rose 13 percent with pre-tax pro
The Standard Chartered PLC announced in London on Thursday its 2004 group annual results, unveiling pre-tax profits of $2,158 million ahead of most analysts' forecasts on revenues of $5837 million. The group's net revenues rose 13 percent with pre-tax pro
The Central Board of Revenue (CBR) has approved the resignation of CBR Member Human Resource Management (HRM) Zafar Aziz Osmani and ended his contract appointment from March 1, 2005, it was learnt here on Thursday. On completion of three years tenure in t
Eden Developers (Pvt) Ltd ("Eden") recently signed a PKR 490 million syndicated facility to part finance the development of the Eden Palace Villa Project. The facility was signed by Mohammed Arshad, Chief Executive Officer, Naveed Khan (GM Finance and Acc
Pak Libya registered a significant rise of 77 percent in the net profit and growth of 33 percent in the asset size of the company in 2004 as compared to preceding year. The 74th board of directors' meeting of the company was held last week to approve annu
Pak Libya registered a significant rise of 77 percent in the net profit and growth of 33 percent in the asset size of the company in 2004 as compared to preceding year. The 74th board of directors' meeting of the company was held last week to approve annu
Former Prime Minister and chairperson of the Pakistan Peoples Party (PPP) Benazir Bhutto has welcomed the India - Pakistan accord on the resumption of Srinagar Muzaffarabad bus service and described it as a mean of further increase in goodwill between Ind
To combat terrorist activity and keep vigilant eyes on the miscreant, army has formed a quick action force (QAF) which would help in maintaining peace and tranquillity during Ashura-i-Muharram in Multan and other sensitive areas. To check the skill and ab
