The government has decided to sell the cotton held by Trading Corporation of Pakistan to local textile mills as the deadline for the ginners comes to an end on March 30, said industry sources. The TCP, which holds 1.6 million bales high-grade cotton, was
The government has decided to sell the cotton held by Trading Corporation of Pakistan to local textile mills as the deadline for the ginners comes to an end on March 30, said industry sources. The TCP, which holds 1.6 million bales high-grade cotton, was
The 46th Annual General Meeting (AGM) of Pakistan Industrial Credit and Investment Corporation (Picic), held on Tuesday, approved bonus shares and interim cash dividends for the year 2004. The meeting, which also approved accounts for the period ended 31s
The 46th Annual General Meeting (AGM) of Pakistan Industrial Credit and Investment Corporation (Picic), held on Tuesday, approved bonus shares and interim cash dividends for the year 2004. The meeting, which also approved accounts for the period ended 31s
The 46th Annual General Meeting (AGM) of Pakistan Industrial Credit and Investment Corporation (Picic), held on Tuesday, approved bonus shares and interim cash dividends for the year 2004. The meeting, which also approved accounts for the period ended 31s
The 46th Annual General Meeting (AGM) of Pakistan Industrial Credit and Investment Corporation (Picic), held on Tuesday, approved bonus shares and interim cash dividends for the year 2004. The meeting, which also approved accounts for the period ended 31s
China intends to sell which it claims a modern signalling system to Pakistan Railways whose administration is already under unprecedented criticism for purchasing faulty locomotives worth $98.2 million from China, it is learnt. "We are discussing purchase
The Central Board of Revenue (CBR) cannot bring real estate within the tax net being provincial matter. On the other hand, provinces are co-ordinating with the tax authorities to document services of professionals for the purpose of levying sales tax. How
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
Spanish police have arrested a man who was stocking 755 kg (1,664 lb) of dynamite in his garage - nearly four times the amount accumulated by the Madrid train bombers. He also had 750 kg of ammonium nitrate, a fertiliser that can also be used to make bomb
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
Russia said on Wednesday it will stop cheap gas supplies to impoverished Moldova from 2006 in a first major sign of retaliation by Moscow against a pro-western shift by the country's leader. The move comes just days before President Vladimir Voronin, a fo
Israeli police said on Wednesday they were questioning fugitive Russian tycoon Vladimir Gusinsky in an investigation of suspected money-laundering at Bank Hapoalim, Israel's largest bank. Gusinsky was not in Israel when police launched the inquiry earlier
A team from the African Cricket Association (ACA) is to arrive here this week to investigate the chaos that has enveloped the governing of the sport in Kenya, local officials said Wednesday. The four-strong delegation, led by the ACA's Zimbabwean presiden
German fashion house Hugo Boss forecast further sales and earnings growth in 2005 on the back of a boom at its womenswear line but warned growth in gross profit margin would slow this year. The suit maker, controlled by Italian clothing firm Marzotto, sai
Pakistan beat defending champions India 3-2 in the six-nation Junior Hockey Tournament here on Wednesday. The Indians, who were reduced to nine men in the dying moments of the second half, led 2-1 at the break but could not hold on after their skipper Pra
German fashion house Hugo Boss forecast further sales and earnings growth in 2005 on the back of a boom at its womenswear line but warned growth in gross profit margin would slow this year. The suit maker, controlled by Italian clothing firm Marzotto, sai
Pakistan warmed up for their upcoming one-day series against India with a comfortable eight-wicket win in a warm-up game here on Wednesday. Opener Salman Butt and Shoaib Malik produced fluent knocks against an India A side as Pakistan, who squared a prece
China's top offshore oil and gas producer, CNOOC Ltd, will begin operations this year at a gas field in the East China Sea despite a territorial dispute with Japan. CNOOC Chairman Fu Chengyu told reporters on Tuesday he expected the Chunxiao field, locate
A depleted West Indies will be looking to prove their detractors wrong in the opening Test of four against South Africa that begins here on Thursday. Long-standing left-handed batsman Shivnarine Chanderpaul walks out on home soil at Bourda Oval leading a
Market concerns over an early ECB interest rate hike eased on Wednesday on signs that inflationary pressures are moderating in the eurozone and dovish comments from an European Central Bank policymaker. Money supply growth slowed for the first time in fou
Tiger Woods and Ernie Els once again duelled to a golfing playoff draw here on Tuesday as darkness halted the Tavistock Cup match between cross-town rival golf clubs Lake Nona and host Isleworth. The annual showdown was declared an 8 1/2-8 1/2 draw, bring
Swedish-Finnish telecoms operator TeliaSonera on Wednesday presented a medical monitoring system using Sweden's mobile phone network so hospitals can keep track of out-patients' health developments. "It's a wireless system. Information on the patient's he
Former Olympian Samiullah Khan has resigned as Manager of the Pakistan hockey team in protests it was learnt here on Wednesday. According to sources Samillah, who was titled 'Flying Horse'for his speed in his hay day, was not happy with the appointment pa
Bulls strengthened their position at the Islamabad Stock Exchange (ISE) where equities showed healthy signs amid increase in index. ISE network index was up by 413.11 points as the price-based indicator moved from 12,803.17 to 13,216.28 points, while the
Defending local champion Boonsak Polsana booked his place Wednesday in the second round on the opening day of the 80,000-dollar Thailand Open badminton tournament. The eighth seed, who became the tournament's second Thai champion with his victory last yea
Bulls strengthened their position at the Islamabad Stock Exchange (ISE) where equities showed healthy signs amid increase in index. ISE network index was up by 413.11 points as the price-based indicator moved from 12,803.17 to 13,216.28 points, while the
Venus Williams ended her sister Serena's quest for a fourth straight WTA Key Biscayne crown on Tuesday as she triumphed in straight sets in the pair's first meeting since the 2003 Wimbledon final. Venus advanced to a semi-final showdown with reigning Wimb
Equities continued recovery drive on the second consecutive day and made hefty gains, under the lead of petroleum sector, on local stock market amid reports that a consortium of institutions has agreed to buy OGDC shares. The LSE-25 index rose by 81.10 po
The US Agriculture Department's Commodity Credit Corporation announced the following world market prices of milled and rough rice. The data are adjusted for US milling yields and location, and the resulting marketing loan gain (MLG) and loan deficiency pa
Equities continued recovery drive on the second consecutive day and made hefty gains, under the lead of petroleum sector, on local stock market amid reports that a consortium of institutions has agreed to buy OGDC shares. The LSE-25 index rose by 81.10 po
Arabica coffee futures finished a choppy session on Tuesday in negative territory, with producer selling outweighing early speculative buying, traders said. "There was a little bit of spec buying early and some origin selling at the upper end of the range
New York cocoa futures edged up Tuesday, with a weak US currency attracting investor demand for the dollar-denominated commodity, traders said. The dollar slumped against sterling - the currency of cocoa futures in London - after monthly data showed Briti
The government has extended the service contract of Finance Secretary Naveed Ahsan by one year, it is learnt. Naveed has held the charge of the ministry since Moeen Afzal's retirement.
Monsanto Co on Tuesday increased its 2005 profit forecast because of better-than-expected revenue from seed sales and gene technology as the US spring planting season gets underway. Monsanto, whose shares rose 5 percent, forecast profit in a range of 85 c
The government has extended the service contract of Finance Secretary Naveed Ahsan by one year, it is learnt. Naveed has held the charge of the ministry since Moeen Afzal's retirement.
Monsanto Co on Tuesday increased its 2005 profit forecast because of better-than-expected revenue from seed sales and gene technology as the US spring planting season gets underway. Monsanto, whose shares rose 5 percent, forecast profit in a range of 85 c
Moin Fudda, Managing Director, Karachi Stock Exchange, said on Wednesday that KSE management has planned to restructure the ''Future Contract Rules'', subject to approval by Securities and Exchange Commission of Pakistan (SECP) to avert crisis-like situat
Thai rice futures rose to fresh highs on Wednesday as investors feared drought and a government buying scheme would cut supplies, brokers said. Overall volume rose as 152 contracts of 5 percent white rice were traded compared to Tuesday's 105. The most ac
Moin Fudda, Managing Director, Karachi Stock Exchange, said on Wednesday that KSE management has planned to restructure the 'Future Contract Rules', subject to approval by Securities and Exchange Commission of Pakistan (SECP) to avert crisis-like situatio
Singapore bunker prices were stable on Wednesday, despite higher fuel oil cargo values. Prices for 380-cst bunker fuel were pegged at $235-$237 a tonne, unchanged from Tuesday, and the differential to cargo prices narrowed to $5.38 a tonne. "The market is
Moin Fudda, Managing Director, Karachi Stock Exchange, said on Wednesday that KSE management has planned to restructure the 'Future Contract Rules', subject to approval by Securities and Exchange Commission of Pakistan (SECP) to avert crisis-like situatio
The Karachi Port handled 104,484 tonnes of cargo including 79,133 tonnes import and 25,351 tonnes export cargo inclusive of 4,419 containers, during last 24 hours ending at 0700 hours on Wednesday. The cargo comprised of 72,984 tonnes dry cargo including
Inclusion of Pakistan Petroleum Limited (PPL) will reduce the weightage of Oil and Gas Development Company (OGDC) to 24 percent from 33 percent with the market capitalisation to increase by almost Rs 232 billion. The KSE-100 index has been recomposed once
Cocoa arrivals at ports in Ivory Coast picked up in March, narrowing the gap with last season as prices offered by shippers edged higher, industry data showed on Wednesday. Deliveries totalled 957,778 tonnes between the beginning of the current campaign i
Inclusion of Pakistan Petroleum Limited (PPL) will reduce the weightage of Oil and Gas Development Company (OGDC) to 24 percent from 33 percent with the market capitalisation to increase by almost Rs 232 billion. The KSE-100 index has been recomposed once
US FOB Gulf corn values were slightly weaker on Tuesday, and soyabean basis offers were steady, amid very light export demand in both markets, traders said. Grain movement remained very light as weakening futures prices at the Chicago Board of Trade offer
Inclusion of Pakistan Petroleum Limited (PPL) will reduce the weightage of Oil and Gas Development Company (OGDC) to 24 percent from 33 percent with the market capitalisation to increase by almost Rs 232 billion. The KSE-100 index has been recomposed once
Japanese steel makers Nippon Steel Corp, Sumitomo Metal Industries Ltd and Kobe Steel Ltd expanded their business alliance on Wednesday, and said they will also consider additional cross-shareholdings in each other. The three firms did not specify when or
The share market was slowly returning to normalcy but still some seasoned investors stayed away from the rings as they feared that the market might take some more hiccups before consolidating. The KSE-100 index recorded an increase of 230.42 points, or 2.
Britain's farm ministry left its March estimate of this season's exportable UK wheat surplus unchanged on the month at almost 2.91 million tonnes on Wednesday, up 32 percent from last year. In its latest supply/demand data for cereals, the Department for
The share market was slowly returning to normalcy but still some seasoned investors stayed away from the rings as they feared that the market might take some more hiccups before consolidating. The KSE-100 index recorded an increase of 230.42 points, or 2.
Brazilian 2004/05 (May/April) cocoa arrivals from Bahia and other states totalled 3.0 million 60-kg bags by March 27, down 15 percent from 3.55 million bags a year ago, the Bahia Commercial Association said on Wednesday. Bahia state, Brazil's main cocoa p
The share market was slowly returning to normalcy but still some seasoned investors stayed away from the rings as they feared that the market might take some more hiccups before consolidating. The KSE-100 index recorded an increase of 230.42 points, or 2.
Pakistan's palm oil market was mixed during the past week as imports stayed slow on low domestic demand that had kept prices stable, but dealers said fresh buying would emerge in days ahead as stocks were thin. "There is room for imports as stocks are now
Rana Munir Hussain has been elected as president of the Lahore Tax Bar Association (LTBA) in its annual elections held here on Wednesday. Rana Munir Hussain bagged 402 votes, while his rival candidate Zahid Pervez got 299 votes. Sheikh Naeem Zafar was ele
Iron ore shipments to China, the world's top steel producer, have slowed in the past few weeks as ports are overwhelmed by large stocks of the raw material accumulated ahead of a giant leap in prices from next month. While China's booming steel sector wou
The traders' representatives in presence of Lahore District Nazim and high-ranking police officers announced to boycott the MMA strike on April 2 and vowed to continue their business as usual. Over 250 traders' leaders, representing various markets of the
Wheat futures on the Chicago Board of Trade closed mixed on Tuesday, with the nearby months sagging on a lack of follow-through after light fund buying lifted values early, traders said. May wheat closed down 1-1/2 cents at $3.34-1/2 per bushel after sell
Officials from India and Pakistan on Wednesday returned lists they had swapped a week ago of passengers selected to ride the first buses between Azad and occupied Kashmir in almost 60 years. "We have exchanged lists of confirmed passengers on both the sid
US Midwest interior basis bids for soyabean and corn were mostly steady to firm early Wednesday due to a lack of farmer sales, dealers said. "Farmers are waiting for prices to rally, after the big price gains earlier this month," one Indiana dealer said.
Prime Minister Shaukat Aziz said on Wednesday that the government would further explore oil, gas, and metals in mineral-rich Balochistan for the benefit of its people as well as the country. He was speaking at the handing over of the building of the Lasbe
Upward trend was again witnessed on the forward cottonseed oilcake market on Thursday as buyers presense continued on anticipation of increase in the prices, dealers said. The May vaida opened with 90 paisa gain at Rs 432.70. Later, it picked up Rs 1.10 t
Prime Minister Shaukat Aziz said on Wednesday that the government would further explore oil, gas, and metals in mineral-rich Balochistan for the benefit of its people as well as the country. He was speaking at the handing over of the building of the Lasbe
Most of leading buyers indulged in fresh buying in the cotton market on Wednesday on anticipation of increase in the prices, dealers said. The official spot rates were unchanged at Rs 2250, without upcountry expenses. Market sources said that the cotton p
Prime Minister Shaukat Aziz said on Wednesday that the government would further explore oil, gas, and metals in mineral-rich Balochistan for the benefit of its people as well as the country. He was speaking at the handing over of the building of the Lasbe
The State Bank of Pakistan, in a surprise move, accepted Rs 22.55 billion, against the auction target amount of Rs 10 billion, in six-month Treasury Bills auction. By accepting more than the target amount, it had to raise yield by 0.5078 percent from 5.18
Dullness prevailed on the local grain market on Wednesday as almost all commodities held their overnight levels on balanced demand and supply factor, dealers said. They said that the general trend in the market was up as prices tended higher as on the see
The State Bank of Pakistan, in a surprise move, accepted Rs 22.55 billion, against the auction target amount of Rs 10 billion, in six-month Treasury Bills auction. By accepting more than the target amount, it had to raise yield by 0.5078 percent from 5.18
Malaysian tin fell almost 2 percent on Wednesday, reaching a rare parity with the price in London, after both markets underwent a technical correction. The spot price on the Kuala Lumpur Tin Market dipped $155 to $8,050 a tonne. The traded volume dwindled
The State Bank of Pakistan, in a surprise move, accepted Rs 22.55 billion, against the auction target amount of Rs 10 billion, in six-month Treasury Bills auction. By accepting more than the target amount, it had to raise yield by 0.5078 percent from 5.18
US copper futures raced higher on Tuesday on fund buying ahead of the quarter end, then added to gains after the declining US consumer confidence reading put pressure on the dollar, traders said. "We had some decent fund buying in here. The euro's coming
The State Bank of Pakistan, in a surprise move, accepted Rs 22.55 billion, against the auction target amount of Rs 10 billion, in six-month Treasury Bills auction. By accepting more than the target amount, it had to raise yield by 0.5078 percent from 5.18
US gold futures closed mostly unchanged on Tuesday as dealers were reluctant to take on fresh positions due to final April-June switching, even amid a slight rise in the euro, traders said. April delivery gold on the New York Mercantile Exchange's COMEX d
The Central Board of Revenue (CBR) has decided to bring all the manufacturers within the tax net under the drive of broadening the tax base. CBR Chairman Adbullah Yusuf told Public Accounts Committee (PAC) on Wednesday that the exercise would help in brin
Tokyo gold futures were trapped in tight ranges on Wednesday as Japanese investors refrained from taking new positions ahead of Japanese fiscal year book closings. Early rounds of buying quickly ran out of steam and the market lost direction after the Feb
The Central Board of Revenue (CBR) has decided to bring all the manufacturers within the tax net under the drive of broadening the tax base. CBR Chairman Adbullah Yusuf told Public Accounts Committee (PAC) on Wednesday that the exercise would help in brin
Gold moved in a narrow range in Asia on Wednesday as dealers waited for fresh leads from the currency markets ahead of the release of key US economic data. Spot gold was trading at $426.00/426.50 an ounce by 0410 GMT, little changed from $425.65/426.40 la
The Central Board of Revenue (CBR) has decided to bring all the manufacturers within the tax net under the drive of broadening the tax base. CBR Chairman Adbullah Yusuf told Public Accounts Committee (PAC) on Wednesday that the exercise would help in brin
Shanghai copper futures sagged on Wednesday but stayed in steep backwardation, as a tight spot market continued to keep prompt futures high. Most active June copper closed at 31,280 yuan ($3,780) Wednesday, down 160 yuan, as slightly lower prices on the L
Pakistan Muslim League President Shujaat Hussain said here on Wednesday that the process of confidence building and people-to-people contacts would further help improve the relations between Pakistan and India. He was talking to External Affairs Minister
Oil prices tracked higher on Wednesday, holding above $54 as Opec's deferral of any supply increase until later this year countered concerns of swelling US crude inventories. US light crude rose 20 cents to $54.43 a barrel, more than $3 below an all-time
Pakistan Muslim League President Shujaat Hussain said here on Wednesday that the process of confidence building and people-to-people contacts would further help improve the relations between Pakistan and India. He was talking to External Affairs Minister
Chicago Board of Trade rough rice futures closed lower on Tuesday in a quiet session as the market awaited key crop reports from the US Department of Agriculture, traders said. Traders were reluctant to take strong positions ahead of the release on Thursd
Thousands of oil truck drivers, conductors and owners on Wednesday staged demonstrations at Mehmoodkot, Shershah, Dera Ghazi Khan, Bahawalpur and Muzaffargarh and blocked the highways by putting hurdles to press the authorities for acceptance of their dem
Tight rubber supplies and higher diesel prices are likely to support Thai rubber prices this week despite soft overseas demand, traders said on Wednesday. The price of benchmark unsmoked rubber sheet grade 3 (USS3), the raw material for export-grade rubbe
Tokyo rubber futures surged by the daily price limit of 5.0 yen per kg on Wednesday to the highest level since last June, as stop-loss buying emerged after the market broke through resistance due to a weak yen. The September rubber contract on the Tokyo C
Raw sugar futures settled close to a five-month low on Tuesday on heavy fund selling, but persistent scale-down trade buying helped prevent deeper losses, dealers said. The New York Board of Trade's May raw sugar contract tumbled 0.09 cent to 8.52 cents a
Soybean futures at the Chicago Board of Trade closed weak on Tuesday in light trade ahead of Thursday's scheduled release of March plantings and stocks data, traders said. Nearby contracts gained on deferreds amid a slowdown in farmer selling this week an
At least 100,000 tonnes of white sugar bought by Indonesia are stranded in neighbouring Thailand because of a lack of ships, forcing Jakarta to extend the deadline for arrivals. Thailand barely has sugar for sale because the harvesting season has just end