News Archives for Print - 2005-03-29

Interest rates on new foreign currency deposits

Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

South Korea's central bank may help low-income debtors

South Korea's central bank said on Monday it could lend some 70 billion won ($69 million) to a state-run agency to support a government plan to ease the debt burden of some 370,000 low-income earners. The finance ministry offered last week to ease their d

Published 29 Mar, 2005 12:00am

Unisys to speed up hiring, investment in India

Ailing US computer services firm Unisys Corp plans to boost investment and hiring in India over the next three years as it cuts costs and strengthens cheaper offshore units, company officials said on Monday. Cal Killen, vice-president of global sourcing a

Published 29 Mar, 2005 12:00am

Singapore factory output points to fall in first quarter GDP

A surprise drop in Singapore factory production has raised the prospect the island's economy may shrink in the January-March quarter for the first time in nearly two years, analysts said. Factory output fell 9.8 percent in February from January, a second

Published 29 Mar, 2005 12:00am

Taiwan assesses risks of China embargo

Taiwan's exports could fall 20 percent if China, its main trading partner and political rival, imposes economic sanctions to prevent the island from formally splitting with the mainland, a newspaper report said on Monday. China's parliament passed an anti

Published 29 Mar, 2005 12:00am

India slowly tackles causes of poor infrastructure

Even if you can identify viable projects, cutting through India's red tape and negotiating its labyrinthine politics would deter most infrastructure bankers. Far easier to go to can-do China. But Rajiv Lall sees such a bright future for privately funded t

Published 29 Mar, 2005 12:00am

Japan data seen dampening economic rebound hopes

Japan's economy may have hit a bump on the road to recovery after speeding ahead in January, but data this week was unlikely to signal a steep downturn for the world's second largest economy. Surprisingly strong data in January boosted hopes for an econom

Published 29 Mar, 2005 12:00am

Indonesia rules out further oil price hikes in 2005

Indonesia is unlikely to risk any further oil price hikes to ease budgetary pressure during 2005 after widespread protests greeted a 29 percent rise earlier this month, a senior minister said Monday. Information Minister Sofyan Djalil told reporters that

Published 29 Mar, 2005 12:00am

China end-February foreign exchange reserves hit $642.6 billion

China's foreign exchange reserves rose $32.7 billion in the first two months of 2005 to hit $642.6 billion at the end of February, a newspaper said on Monday. If accurately reported, the increase will likely further worry officials trying to stem a flood

Published 29 Mar, 2005 12:00am

UK house prices fall in March

House prices in England and Wales fell at their slowest pace in six months, research company Hometrack said on Monday, adding to mounting evidence that the housing market may be stabilising. Hometrack said it was confident that house prices will start ris

Published 29 Mar, 2005 12:00am

Asian states must choose sustainable growth: UN

Asia-Pacific economies may be expanding fast but growth will not be sustainable for much longer unless the region pays more attention to the environment, the United Nations said Monday. Asia-Pacific environment ministers heard the wake-up call at a two-da

Published 29 Mar, 2005 12:00am

Microsoft and EU agree name for stripped-down Windows

Microsoft and the European Commission have agreed the software giant can sell a stripped-down version of its Windows operating system under the name "Windows XP Home Edition N", Microsoft said on Monday. The deal represents a small step in Microsoft's lon

Published 29 Mar, 2005 12:00am

Sri Lanka puts privatisation on hold

Sri Lanka's government Monday delayed for two weeks a decision on whether to sell stakes in the state-run oil company after workers threatened to walk out, fuelling panic buying across the country, officials said. The government said in a statement that i

Published 29 Mar, 2005 12:00am

'Brazil will not renew IMF loan accord'

Brazil, the International Monetary Fund's top debtor, on Monday said it would not renew a $40 billion loan accord with the multilateral lender when it expires this month as it no longer needs its protection against financial shocks. "Brazil will not renew

Published 29 Mar, 2005 12:00am

IMF names new chief in Europe

The International Monetary Fund Monday named Saleh Nsouli as the new director of its operations in Europe. Nsouli, a US national who is currently deputy director of the IMF's Middle East and Central Asia department, is replacing Denmark's Flemming Larsen

Published 29 Mar, 2005 12:00am

China sees slower textile and clothing export growth

China's growth in textile and clothing exports will slow following a surge early this year that triggered calls for safeguard measures against Chinese producers, a commerce ministry official said Monday. Vice Minister of Commerce Zhang Zhigang said Chines

Published 29 Mar, 2005 12:00am

WTO membership would add 1 percent to Russia's growth: World Bank

Russia's economy would grow an extra one percentage point per year if it manages to join the World Trade Organisation, the head of the World Bank's office in Moscow said Monday, according to a report by the agency Prime-Tass. Kristalina Georgieva said the

Published 29 Mar, 2005 12:00am

Kuwait oil unit output capacity to top 250,000 barrels per day

A major oil gathering centre at this northern Kuwait oilfield will be able to produce more than 250,000 barrels per day (bpd) by the end of April, state-run Kuwait Oil Co (KOC) said on Monday. KOC official Emad Sultan told reporters on a tour of the facil

Published 29 Mar, 2005 12:00am

BBVA board to meet on approving bid for BNL

Spanish bank BBVA is about to decide on approval for a take-over bid for Italian bank BNL, press reports here said on Monday, noting that an offer would raise pressure on Italian banking to open up. The board of BBVA, the second-biggest bank in Spain, was

Published 29 Mar, 2005 12:00am

China watchdog tightens crews on derivatives trade

Chinese banking regulator has called on the country's banks to strengthen risk controls when trading derivatives after a Chinese jet fuel importer lost $550 million by using them to bet on oil prices. Chinese banks needed stricter systems for authorising

Published 29 Mar, 2005 12:00am

Sony told to halt PlayStation sales in US, pay $90 million

Sony Corp said on Monday it was ordered by a US court to halt sales of its blockbuster PlayStation consoles in the key US market and pay $90 million in damages to a small US tech company, Immersion Corp Sony Computer Entertainment (SCE), Sony's gaming uni

Published 29 Mar, 2005 12:00am

BOC and CCB face obstacles in listing

Bank of China and China Construction Bank face legal barriers in their overseas listings due to the unclear role of their state parent, the China Securities Journal said on Monday, citing a government source. The banking regulator had asked the Big Four s

Published 29 Mar, 2005 12:00am

Taiwan SinoPac rejects Taishin offer, prefers IBT

SinoPac Financial Holding Co has rejected an acquisition offer by Taishin Financial Holding Co and prefers to merge instead with the International Bank of Taipei, Taishin said on Monday. Taishin Chairman Thomas Wu, head of Taiwan's eighth-largest financia

Published 29 Mar, 2005 12:00am

Bangalore invites bids for metro rail project

India's booming technology capital of Bangalore invited global applications on Monday from consultants to help implement a more than $900 million metro railway project to cater to the city's growing population. State-run Bangalore Mass Rapid Transit Ltd (

Published 29 Mar, 2005 12:00am

Vietnam extends bidding for oil exploration blocks

State oil monopoly Petrovietnam said on Monday it had extended by two months the bidding for exploration licences in nine offshore oil blocks. Officials from Petrovietnam said the extension to early May was to attract more bids for the deep water blocks i

Published 29 Mar, 2005 12:00am

Pioneer says plasma to turn profit in 2005-06

The president of Pioneer Corp said on Monday that its plasma display and TV business would turn a profit next business year as it doubles production, but warned its DVD recorder operations would likely remain in the red amid industry-wide price slashing.

Published 29 Mar, 2005 12:00am

Pioneer says plasma to turn profit in 2005-06

The president of Pioneer Corp said on Monday that its plasma display and TV business would turn a profit next business year as it doubles production, but warned its DVD recorder operations would likely remain in the red amid industry-wide price slashing.

Published 29 Mar, 2005 12:00am

Malaysia ends funding ban for property developers

Malaysia gave real estate developers greater access to the bond market on Monday, lifting restrictions that had been designed to tackle a property glut. Developers will no longer be banned from using bond sales to fund developments like houses worth more

Published 29 Mar, 2005 12:00am

Malaysia ends funding ban for property developers

Malaysia gave real estate developers greater access to the bond market on Monday, lifting restrictions that had been designed to tackle a property glut. Developers will no longer be banned from using bond sales to fund developments like houses worth more

Published 29 Mar, 2005 12:00am

Malaysian palm oil ends off lows, awaits CBOT reopen

Malaysian crude palm oil futures ended off their lows on Monday after tracking pre-market gains in rival Chicago soyaoil. Dealers said resumption of business on the Chicago Board of Trade later on Monday after being closed since on Friday for the Easter w

Published 29 Mar, 2005 12:00am

Vietnam to sell better quality of rice to Cuba

Vietnam said on Monday it will sell 100,000 tonnes of better-quality 15 percent broken rice to Cuba this year as part of a government deal originally for 425,000 tonnes of 25 percent broken rice. Vietnam maintains a close relationship with fellow communis

Published 29 Mar, 2005 12:00am

Tajikistan plans to harvest one million tonnes of grain

Tajikistan plans to raise its grain crop to 1.0 million tonnes this year, or some 17 percent more than the 853,700 tonnes harvested last year, a senior agriculture official said on Monday. The Central Asian State targeted a 950,000 tonne harvest last year

Published 29 Mar, 2005 12:00am

East Asian grain: South Korea to seek July corn and soyameal

South Korean feed makers are expected to seek corn and soyameal for July arrivals this week if offers meet their target prices, while some buying is also expected to emerge in Japan, Asian traders said on Monday. Feed makers in South Korea want to buy pan

Published 29 Mar, 2005 12:00am

Russia reaps a record oilseeds crop in 2004

Russia harvested a record oilseed crop of 5.72 million tonnes last year, compared with 5.56 million tonnes in 2003, according to a recently published final official 2004 crop estimate. Strong domestic demand for oilseeds coupled with a delay in a large-sc

Published 29 Mar, 2005 12:00am

Indian soya firm

Indian soyaoil futures firmed up on tight supplies on Monday while gold and sugar were steady in thin trade because of festival holidays, dealers said. April soyaoil at the Multi Commodity Exchange (MCX) was up 0.18 percent at 390.60 rupees per 10 kg. The

Published 29 Mar, 2005 12:00am

Malaysian tin down

Tin fell $10 a tonne in Malaysian trade on Monday as sellers surfaced in huge numbers amid the London market's closure for Easter. But bids from European, Japanese and local buyers came in at the lower end, preventing the spot price on the Kuala Lumpur Ti

Published 29 Mar, 2005 12:00am

Shanghai copper rises

A tight spot market pushed up prompt copper futures in Shanghai on Monday, but contracts from June onward lost ground as investors took profit. Shanghai warehouse figures released after the market closed on Friday showed copper inventories had fallen by 1

Published 29 Mar, 2005 12:00am

Oil dips, funds take profits on rising US dollar

Oil prices eased further from $55 a barrel on Monday as fresh gains in the dollar prompted speculative funds to take more profits and as concerns over gasoline supply triggered by a Texas refinery blast faded. US light crude fell 41 cents to $54.43 a barr

Published 29 Mar, 2005 12:00am

Cocoa leaves bitter after-taste in Indonesia

Growing cocoa has become a bittersweet experience for Indonesian farmers while output is up, profits are diluted by rising production costs and an endless battle against pod borer pests. Farmers also admit to a growing fear that the country's main buyer,

Published 29 Mar, 2005 12:00am

Gold holds steady in Asia in slow holiday trade

Gold pushed up to around $426 an ounce in thin holiday-affected trade in Asia on Monday but a sttrong US dollar limited gains Spot gold had retreated back to $424.50/425.20 an ounce, little changed from New York's last quoted level of $424.40/425.10 on Th

Published 29 Mar, 2005 12:00am

Singapore oil product swaps weaken

Singapore oil product swaps were weaker in mid-day trade on Monday, and gas oil's April/May backwardation narrowed. Brokers quoted April gas oil at $63.50 a barrel, down 50 cents from Thursday. Singapore oil markets were closed on Friday for a public holi

Published 29 Mar, 2005 12:00am

Tokyo gold hits one-week high as yen weakens

Tokyo gold futures rose to a near one-week high on Monday as the yen's sharp fall against the dollar triggered short-covering by yen-based investors, but a weak dollar-based spot price limited active follow-through. Despite gains in yen-based gold prices,

Published 29 Mar, 2005 12:00am

Tokyo rubber firmer on weak yen, trade thin

Tokyo rubber futures finished firmer on Monday as a weak yen induced mild short-covering, but trade was thin amid a lack of fresh fundamental incentives. The benchmark September rubber contract, which was listed on the Tokyo Commodity Exchange on Monday,

Published 29 Mar, 2005 12:00am

Asian naphtha: contango stable on South Korean bargain hunting

Asian naphtha prices fell slightly on Monday, though the inter-half month spread was stable in contango on support from South Korean bargain-hunting. The key open-spec naphtha contract for second-half May delivery was notionally assessed around $489 a ton

Published 29 Mar, 2005 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 69,600 tonnes of cargo including 55,446 tonnes import and 14,154 tonnes export cargo inclusive of 583 containers, during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 17,071 tonnes dry cargo including 8,336

Published 29 Mar, 2005 12:00am

Neptune Orient Lines eyes possible acquisitions

Neptune Orient Lines Ltd (NOL), the world's sixth-biggest container shipper, is looking at possible acquisitions to expand its operations, the Financial Times reported on Monday. In an interview with the newspaper, NOL's CEO David Lim said he would be int

Published 29 Mar, 2005 12:00am

Singapore bunker fuel prices down

Singapore bunker prices eased on Monday, tracking marginally lower fuel oil cargo values. Prices for 380-cst bunker fuel were pegged at $233-$235 a tonne, down $1 from last Thursday, but the differential to cargo prices were maintained at $1.63 a tonne. "

Published 29 Mar, 2005 12:00am

Singapore rig-builders seen riding the oil rally

Singapore's rig-builders, whose share gains have dwarfed the rise in the broader market so far this year, could rally further as high oil prices revive exploration and production, analysts said. Marine engineering shares - Keppel Corp, SembCorp Marine Ltd

Published 29 Mar, 2005 12:00am

US Plains HRW wheat bids mostly unchanged

Spot hard red winter wheat spot basis bids were mostly unchanged Monday amid sluggish sales and lackluster demand, according to dealers. Protein premiums were steady except for 12.60 and 12.80 percent protein wheat which saw a 1 cent a bushel gain. Sales

Published 29 Mar, 2005 12:00am

CIF Gulf corn basis steady, soyabeans firm

US CIF Gulf corn basis values were mostly steady Monday, while soyabeans were firm as farmers remained reluctant sellers of grain, traders said. The slow grain movement in turn was weighing on barge freight rates, which continued to edge lower from last w

Published 29 Mar, 2005 12:00am

Brazil expects lower grain crop forecast

Brazil's 2004/05 grains crop forecast could be lowered further due to drought in southern states, Brazil's Agriculture Minister Roberto Rodrigues said on Monday. The ministry's crop supply department Conab lowered Brazil's overall grains crop forecast to

Published 29 Mar, 2005 12:00am

Vietnam sees rubber sales to China up

Chinese demand for Vietnamese rubber this year should soar 20 percent from 2004 due to robust expansion of its automobile sector, Vietnam's Trade Ministry forecast on Monday. The ministry report, published on its Web site at www.mot.gov.vn, did not specif

Published 29 Mar, 2005 12:00am

Indonesia's oil product imports dip, but demand steady

Indonesia bought about 12.4 million barrels of oil products for April, down 7 percent from this month, and industry sources said on Monday higher domestic prices had not dampened demand in a big way. The imports for April, which included 88- and 92-octane

Published 29 Mar, 2005 12:00am

CBOT corn lower amid quiet exports

Corn futures at the Chicago Board of Trade were lower Monday amid only routine exports over the weekend and record large stocks of feed grains in the United States and globally, traders and analysts said. At 10:54 am CST (1654 GMT), corn was unchanged to

Published 29 Mar, 2005 12:00am

Pemex to unveil new oil contracts

Mexican state oil monopoly Pemex will unveil a new type of contract in the days ahead aimed at enticing foreign companies to help it extract oil from mature fields, the daily Reforma reported on Monday. Citing Pemex chief Luis Ramirez, Reforma said the co

Published 29 Mar, 2005 12:00am

Russian firm seeks China's loan for zinc concentrator

Russia's Metropol investment house said on Monday it had reached a preliminary agreement with two Chinese mining firms which could extend it a loan to build a zinc ore enrichment plant in Russia. Within a month Metropol will prepare a detailed proposal to

Published 29 Mar, 2005 12:00am

Kuwaiti chemicals firm doubles net profit

EQUATE Petrochemical Company, a joint venture between Kuwait and US giant Dow Chemical Co, said its net profit rose 126 percent last year to a record $620.5 million on rising product prices. EQUATE supplies Asia, the Middle East, Africa and Europe with et

Published 29 Mar, 2005 12:00am

Kuwaiti chemicals firm doubles net profit

EQUATE Petrochemical Company, a joint venture between Kuwait and US giant Dow Chemical Co, said its net profit rose 126 percent last year to a record $620.5 million on rising product prices. EQUATE supplies Asia, the Middle East, Africa and Europe with et

Published 29 Mar, 2005 12:00am

US Midwest soyabean and corn mostly steady to firm

US Midwest interior basis bids for soyabean and corn were mostly steady to firm Monday due to only scattered farmer sales, grain dealers said. The consolidating bids, amid recent losses in Chicago Board of Trade futures, also followed losses of up to 50 c

Published 29 Mar, 2005 12:00am

Prime Minister forms committee to monitor prices

Prime Minister Shaukat Aziz on Monday constituted a 12-member committee to monitor the price situation in the country by keeping a watch on the supply and demand conditions. The committee will also co-ordinate with the provinces and district governments f

Published 29 Mar, 2005 12:00am

Asian crude: Middle East markets shift to June dealings

The market has shifted its focus to dealings for June-lifting Middle East cargoes even though some May-lifting barrels were unsold, traders said. Partial lots of May-lifting Abu Dhabi grades are available and may be rolled over to the next month, traders

Published 29 Mar, 2005 12:00am

Prime Minister forms committee to monitor prices

Prime Minister Shaukat Aziz on Monday constituted a 12-member committee to monitor the price situation in the country by keeping a watch on the supply and demand conditions. The committee will also co-ordinate with the provinces and district governments f

Published 29 Mar, 2005 12:00am

Minor changes in grain and seed rates

Prices moved both ways on the grain market on Monday in the process of trading, dealers said. Most of the changes were seen on the seed side, where rapeseed Mirpurlane (both types) posted fresh gain of Rs 20 at Rs 750-760, dealers said. Rapeseeds cakes pi

Published 29 Mar, 2005 12:00am

Prime Minister forms committee to monitor prices

Prime Minister Shaukat Aziz on Monday constituted a 12-member committee to monitor the price situation in the country by keeping a watch on the supply and demand conditions. The committee will also co-ordinate with the provinces and district governments f

Published 29 Mar, 2005 12:00am

Cotton prices stay put on week-opening day

The cotton market commenced the week on a firm note as prices depicted no change in their weekend's levels amid modest trading, brokers said. The official spot rate maintained last levels at Rs 2275, without upcountry expenses. According to some brokers,

Published 29 Mar, 2005 12:00am

Unintentional sales tax defaulters to get relief

Giving a major tax relief to persons paying sales tax after due date citing solid reasons for delayed payment, the Central Board of Revenue (CBR) has decided to amend section 33 of the Sales Tax Act, 1990 in budget 2005-06 to differentiate between willful

Published 29 Mar, 2005 12:00am

Oil cake market rates

Futures moved both ways on the forward cottonseed oilcake market as most of the buyers kept on the sidelines due to less interest, dealers said on Monday. The May vaida commenced with 20 gain at Rs 430.80. Later, it managed to gain 60 paisa to be day's be

Published 29 Mar, 2005 12:00am

Unintentional sales tax defaulters to get relief

Giving a major tax relief to persons paying sales tax after due date citing solid reasons for delayed payment, the Central Board of Revenue (CBR) has decided to amend section 33 of the Sales Tax Act, 1990 in budget 2005-06 to differentiate between willful

Published 29 Mar, 2005 12:00am

Plastic mouldings move up

The trading on plastic mouldings moved upward here on Jodia Bazar on Monday.

Published 29 Mar, 2005 12:00am

Indonesian quake kills two

At least two people have been confirmed dead on the outlying Indonesian island of Nias after a huge earthquake struck waters off the coast of Sumatra, police told AFP on Tuesday. Sergeant Damanik of Nias police said there could be further fatalities but a

Published 29 Mar, 2005 12:00am

Philippines eyeing US wheat

The Philippines is looking to buy a few cargoes of milling wheat from the United States for June shipments, a Philippine grains trader said on Monday. "We are covered until May. Most of millers are now looking at June positions. They will be looking at we

Published 29 Mar, 2005 12:00am

Indonesian quake kills two

At least two people have been confirmed dead on the outlying Indonesian island of Nias after a huge earthquake struck waters off the coast of Sumatra, police told AFP on Tuesday. Sergeant Damanik of Nias police said there could be further fatalities but a

Published 29 Mar, 2005 12:00am

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Agreement on water allocation for Kharif

After acquiring no objection certificate (NoC) from the Punjab, Indus River System Authority (Irsa) has decided to distribute water for Kharif season 2005 starting from April 1 as per para-2 of the Water Apportionment Accord 1991. "Punjab had no objection

Published 29 Mar, 2005 12:00am

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Agreement on water allocation for Kharif

After acquiring no objection certificate (NoC) from the Punjab, Indus River System Authority (Irsa) has decided to distribute water for Kharif season 2005 starting from April 1 as per para-2 of the Water Apportionment Accord 1991. "Punjab had no objection

Published 29 Mar, 2005 12:00am

Karachi interbank rates

Karachi interbank rates on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Agreement on water allocation for Kharif

After acquiring no objection certificate (NoC) from the Punjab, Indus River System Authority (Irsa) has decided to distribute water for Kharif season 2005 starting from April 1 as per para-2 of the Water Apportionment Accord 1991. "Punjab had no objection

Published 29 Mar, 2005 12:00am

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 29 Mar, 2005 12:00am

PTA approves policy to check cell phone snatching

The telecom watchdog agency, Pakistan Telecommunication Authority (PTA) has approved a policy to discourage use of snatched and stolen mobile handsets. The Regional Director of PTA, Col Rizwan Hyderi, told Business Recorder on Monday that mobile ph

Published 29 Mar, 2005 12:00am

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 29 Mar, 2005 12:00am

Islamabad to open bus route as endorsed by APHC

Pakistan has accepted Indian proposal to reopen the Muzaffarabad-Srinagar road for the 'twice a month' bus service after consultation with the Kashmiri leaders on both sides of the Line of Control, Foreign Office spokesman told media here on Monday. At hi

Published 29 Mar, 2005 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

PPIB stopped from altering old PPAs

The Water and Power Development Authority (Wapda) has blocked a move by the Private Power Infrastructure Board (PPIB) to incorporate changes in original agreements signed with the Independent Power Producers (IPPs) without bringing it to the notice of the

Published 29 Mar, 2005 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

PPIB stopped from altering old PPAs

The Water and Power Development Authority (Wapda) has blocked a move by the Private Power Infrastructure Board (PPIB) to incorporate changes in original agreements signed with the Independent Power Producers (IPPs) without bringing it to the notice of the

Published 29 Mar, 2005 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

PPIB stopped from altering old PPAs

The Water and Power Development Authority (Wapda) has blocked a move by the Private Power Infrastructure Board (PPIB) to incorporate changes in original agreements signed with the Independent Power Producers (IPPs) without bringing it to the notice of the

Published 29 Mar, 2005 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Funds from consortium fail to enliven bourse

Speedy decline was still witnessed, for the eighth session in a row, on Monday whereby assurance from financial institutions to fund the settlement of futures contracts failed to change the bearish trend. The KSE-100 index fell 255.66 points, or 3.2 perce

Published 29 Mar, 2005 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Funds from consortium fail to enliven bourse

Speedy decline was still witnessed, for the eighth session in a row, on Monday whereby assurance from financial institutions to fund the settlement of futures contracts failed to change the bearish trend. The KSE-100 index fell 255.66 points, or 3.2 perce

Published 29 Mar, 2005 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Agriculture Price Commission being restructured

Federal Minister for Food, Agriculture and Livestock Sikandar Hayat Bosan on Monday said here that 'Agriculture Price Commission' (APC) was being restructured to make better policies and economic analysis for the benefit of farmers. "This step is part of

Published 29 Mar, 2005 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Agriculture Price Commission being restructured

Federal Minister for Food, Agriculture and Livestock Sikandar Hayat Bosan on Monday said here that 'Agriculture Price Commission' (APC) was being restructured to make better policies and economic analysis for the benefit of farmers. "This step is part of

Published 29 Mar, 2005 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (March 28, 2005).

Published 29 Mar, 2005 12:00am

Petronas starts supply to SNGPL

Malaysian oil and gas company, Petronas Carigali, has started injecting 15mmcfd gas to the transmission system of Sui Northern Gas Pipelines Limited (SNGPL). Official sources said Petronas is likely to enhance its production to 60mmcfd in coming months. T

Published 29 Mar, 2005 12:00am

Senate panel deplores faulty construction of coastal highway

The Senate Standing Committee on Communication has taken strong cognisance of what it termed faulty and ill planned execution of Coastal Highway construction project. The committee met here on Monday, with Senator Kamil Ali Agha in the chair, observed the

Published 29 Mar, 2005 12:00am

18,000 new sales tax-payers detected for registration

The Collectorate of Sales Tax (Enforcement) has detected over 18,000 new taxpayers for registration under the Sales Tax net. The collectorate sources revealed on Monday that of the total new 18,224 taxpayers spotted on information from various sources inc

Published 29 Mar, 2005 12:00am

Currency	Rate
USD PKR Interbank Selling / Jan 28	278.92
USD PKR Interbank Buying / Jan 28	278.72
USD to Japanese Yen / Jan 28	155.53
USD to Swiss Franc / Jan 28	0.90
Pound Sterling to USD / Jan 28	1.25
Euro to USD / Jan 28	1.04

Stock	Volume
S&P 500 / Jan 27	6,012.28
Nasdaq / Jan 27	19,341.84
Dow Jones / Jan 27	44,713.58
India Sensex / Jan 28	76,094.74
Tokyo Nikkei / Jan 28	39,027.98
Hang Seng / Jan 28	20,225.11
FTSE 100 / Jan 28	8,540.25
Germany DAX 30 / Jan 28	21,333.78

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 27	18,485
Gold 10 Grams PKR / Jan 27	247,856
Crude Oil USD/Barrel / Jan 28	73.47
Gold Spot USD/Ounce / Jan 28	2,742.12
Cotton US¢/pound / Jan 28	67.09
Petrol/Litre / Jan 29	256.13

Stock	Price
First Elite Cap.Mod / Jan 28 First Elite Capital Modaraba(FECM)	6.97 ▲ 0.67 (10.63%)
Sanghar Sugar / Jan 28 Sanghar Sugar Mills Limited(SANSM)	27.90 ▲ 2.54 (10.02%)
Dewan Motors / Jan 28 Dewan Farooque Motors Limited(DFML)	47.52 ▲ 4.32 (10%)
Agritech Non-voting / Jan 28 Agritech Non-Voting Preference(AGLNCPS)	24.20 ▲ 2.2 (10%)
Citi Pharma Ltd / Jan 28 Citi Pharma Ltd.(CPHL)	94.15 ▲ 8.56 (10%)
Faran Sugar / Jan 28 Faran Sugar Mills Limited(FRSM)	51.70 ▲ 4.7 (10%)
Leather Up Ltd. / Jan 28 Leather Up Limited(LEUL)	40.37 ▲ 3.67 (10%)
Mehran Sugar / Jan 28 Mehran Sugar Mills Limited(MRNS)	50.60 ▲ 4.6 (10%)
Shahtaj Sugar / Jan 28 Shahtaj Sugar Mills Limited(SHJS)	124.94 ▲ 11.35 (9.99%)

Stock	Price
Chenab Ltd (Pref) / Jan 28 Chenab Limited (Pref)(CLCPS)	3.40 ▼ -0.51 (-13.04%)
B. F. Mod. / Jan 28 B.F. Modaraba(BFMOD)	7.39 ▼ -1 (-11.92%)
Grays Leasing / Jan 28 Grays Leasing Limited(GRYL)	4.71 ▼ -0.59 (-11.13%)
Dewan Textile / Jan 28 Dewan Textile Mills Limited(DWTM)	7 ▼ -0.85 (-10.83%)
East West Ins. / Jan 28 East West Insurance Company Limited(EWIC)	51.56 ▼ -5.73 (-10%)
National Silk / Jan 28 The National Silk & Rayon Mills Limited(NSRM)	49.40 ▼ -5.37 (-9.8%)
Masood Textile / Jan 28 Masood Textile Mills Limited(MSOT)	51.51 ▼ -5.59 (-9.79%)
Suhail Jute / Jan 28 Suhail Jute Mills Limited(SUHJ)	89.88 ▼ -9.31 (-9.39%)
Chakwal Spinning / Jan 28 Chakwal Spinning Mills Limited(CWSM)	54 ▼ -5.07 (-8.58%)

Stock	Volume
WorldCall Telecom / Jan 28 Worldcall Telecom Limited(WTL)	67,565,578 ▼ -0.04
Sui South Gas / Jan 28 Sui Southern Gas Company Limited(SSGC)	51,651,701 ▼ -1.18
Cnergyico PK / Jan 28 Cnergyico PK Limited(CNERGY)	50,683,570 ▼ -0.24
Fauji Foods Ltd / Jan 28 Fauji Foods Limited(FFL)	26,333,106 ▼ -0.66
Citi Pharma Ltd / Jan 28 Citi Pharma Ltd.(CPHL)	26,034,484 ▲ 8.56
Pak Elektron / Jan 28 Pak Elektron Limited(PAEL)	22,790,060 ▼ -0.34
Fauji Cement / Jan 28 Fauji Cement Company Limited(FCCL)	18,681,185 ▼ -0.93
P.T.C.L. / Jan 28 Pakistan Telecommunication Company Ltd(PTC)	18,282,383 ▼ -0.43
K-Electric Ltd. / Jan 28 K-Electric Limited(KEL)	17,691,845 ▼ -0.06

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