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Jan 02, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-06
Australian dollar shrugs off deficit

Australian dollar shrugs off deficit

The Australian dollar rallied back towards 78 US cents on Thursday after consistent demand from offshore investors lifted it from lows struck after the March trade deficit proved larger than expected. The Aussie was $0.7790/95, rebounding from $0.7772 and
Published 06 May, 2005 12:00am
Asian currencies stronger on yuan speculation

Asian currencies stronger on yuan speculation

The Indian rupee hit a three-month high on Thursday as speculation about a Chinese yuan revaluation continued despite official Chinese comments playing down the prospect of an imminent move. The rupee gained as much as 0.2 percent to 43.39 per dollar, its
Published 06 May, 2005 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar strengthened on Wednesday, climbing back above 80 US cents as the greenback retreated from recent gains because of lowered expectations of aggressive US rate hikes. Domestic bond were little changed on the short end, but the 30-year no
Published 06 May, 2005 12:00am
Sri Lanka cricket chief back under new bosses

Sri Lanka cricket chief back under new bosses

Sri Lanka Cricket (SLC) chief executive Duleep Mendis resumed work on Thursday, a week after submitting his resignation amid a bitter row for control of the country's richest sports body, officials said. Mendis, a former Test captain, will work under the
Published 06 May, 2005 12:00am
India seeks Prime Minister's help to stage Champions Trophy

India seeks Prime Minister's help to stage Champions Trophy

India's cricket chiefs on Thursday sought Prime Minister Manmohan Singh's intervention to prevent the 2006 Champions Trophy tournament from being shifted to arch-rivals Pakistan. The International Cricket Council (ICC) had said in March that the biennial
Published 06 May, 2005 12:00am
Clijsters suffers new injury blow

Clijsters suffers new injury blow

Kim Clijsters' injury problems took a new twist when she was forced to retire because of a knee which she damaged performing her trademark splits at the German Open on Thursday. After battling bravely for more than 12-months against a career-threatening w
Published 06 May, 2005 12:00am
Cricket Australia to honour its deceased Test stars

Cricket Australia to honour its deceased Test stars

Cricket Australia (CA) is to commemorate its 100th anniversary this week by honouring its deceased players. CA said on Thursday the crest of the trademark baggy green cap may be used on the gravestones of its deceased players. Descendants of deceased Aust
Published 06 May, 2005 12:00am
Coria ends Italian interest at Rome Masters

Coria ends Italian interest at Rome Masters

Ninth seed Guillermo Coria ended Italian interest at the Rome Masters on Thursday by defeating veteran Davide Sanguinetti 6-0, 6-4. Victory for the Argentinian took his clay record this year to 11-2 and clinched a place in the quarter-finals, where he wil
Published 06 May, 2005 12:00am
Zhang crowned women's table tennis champion

Zhang crowned women's table tennis champion

World No 1 Zhang Yining lifted the women's singles crown at the World Table Tennis Championships on Thursday, taking her place among the all-time greats as China racked up another two gold medals. The Olympic and Asian champion's tunnel-vision drive for w
Published 06 May, 2005 12:00am
Bangladesh launches probe into suspected tax evasion

Bangladesh launches probe into suspected tax evasion

Bangladesh has launched a probe into suspected tax evasion by its leading film and television stars after finding a mismatch between their income and tax returns, a senior tax official said Thursday. "We are investigating income and expenditure of the cou
Published 06 May, 2005 12:00am
India's Supreme Court orders search for soldier missing since 1971

India's Supreme Court orders search for soldier missing since 1971

India's Supreme Court ordered Thursday a search for a soldier missing since the country's last war with Pakistan in 1971, after his wife insisted her husband was being held in prison over the border. The court ordered the foreign ministry and India's bord
Published 06 May, 2005 12:00am
German foreign ministry to probe Nazi past: Fischer

German foreign ministry to probe Nazi past: Fischer

The Nazi past of Germany's Foreign Ministry will undergo a critical examination by an independent panel of historians to be set up within the next two months, German Foreign Minister Joschka Fischer said. Fischer told foreign journalists late on Wednesday
Published 06 May, 2005 12:00am
Russia foils Chechen poison plot

Russia foils Chechen poison plot

Russia said on Thursday it had broken up Chechen rebel plans to attack towns in its turbulent North Caucasus with poison and explosives, four days before world leaders hold wartime victory celebrations in Moscow. A statement by the FSB state security serv
Published 06 May, 2005 12:00am
Bacterial meningitis outbreak in Delhi causes panic

Bacterial meningitis outbreak in Delhi causes panic

A strain of bacterial meningitis has killed 10 people in the Indian capital and possibly infected 54, sending thousands rushing in a panic to hospitals to get themselves and their children vaccinated. A government statement said 12 new cases of Menigococc
Published 06 May, 2005 12:00am
FBI opens anti-gang office in Central America

FBI opens anti-gang office in Central America

The FBI has opened a permanent office in El Salvador to help Central American police fight a growing wave of US-style youth gangs that have threatened social stability. An FBI agent opened the office in the capital, San Salvador, in late April to investig
Published 06 May, 2005 12:00am
US Marines land on Somali coast to hunt militants

US Marines land on Somali coast to hunt militants

US Marines landed on Somalia's coast in one of their most visible hunts for militants in the country since they set up a Horn of Africa counter terrorism force in 2002, Somali officials said on Thursday. Two boats brought about 20 lightly armed Marines to
Published 06 May, 2005 12:00am
Thousands in silent march to remember Holocaust

Thousands in silent march to remember Holocaust

Under a steady spring rain, some 20,000 people from around the world filed in a slow stream of humanity along the road to the killing fields of Birkenau Thursday to take part in a ceremony to remember the millions who died in the Holocaust. As a narrator
Published 06 May, 2005 12:00am
Saudi Arabia ready to sign key nuclear safeguards pacts

Saudi Arabia ready to sign key nuclear safeguards pacts

Saudi Arabia said Wednesday that it was ready to sign key nuclear safeguards agreements, including a protocol which the UN nuclear watchdog is considering eliminating as it could help a country avoid inspections. Saudi Arabia sent a letter to the watchdog
Published 06 May, 2005 12:00am
Colombia arrests two US soldiers

Colombia arrests two US soldiers

Colombian police have arrested two American soldiers for suspected arms trafficking in the second scandal to hit the US military here in just over a month, police and the US embassy said on Wednesday. The two unidentified soldiers were found with 32,000 r
Published 06 May, 2005 12:00am
Lebanon finalises election dates

Lebanon finalises election dates

Lebanon's president issued a decree on Thursday confirming general elections would start on time on May 29 as demanded by the international community despite a row over the law organising the polls. In another significant move since Syria ended its 29-yea
Published 06 May, 2005 12:00am
Iran to continue talks with EU

Iran to continue talks with EU

Iran wants to continue talks with the European Union aimed at resolving the stand-off over Tehran's nuclear program provided they promise a tangible outcome, Iran's Foreign Minister Kamal Kharrazi said on Thursday. "We will continue negotiations with the
Published 06 May, 2005 12:00am
Israeli soldier arrested for neo-Nazi links

Israeli soldier arrested for neo-Nazi links

An Israeli soldier was arrested on Thursday on suspicion of links to neo-Nazi groups abroad, the first case of its kind in the Jewish state, which was founded as a haven for victims of the Holocaust. A police spokesman said the suspect, a 20-year-old army
Published 06 May, 2005 12:00am
Hamas challenges Fatah in municipal elections

Hamas challenges Fatah in municipal elections

Palestinians voted on Thursday in municipal elections likely to strengthen Islamist faction Hamas against President Mahmoud Abbas's troubled Fatah movement and hint at the outcome of a planned parliamentary ballot. The legislative election is set for July
Published 06 May, 2005 12:00am
US Marine cleared in shooting of Iraqi

US Marine cleared in shooting of Iraqi

The US Marine Corps has ruled that no charges will be filed against a Marine in the fatal shooting of a wounded and unarmed Iraqi in a Falluja mosque last November in an incident shown in a television pool report, a spokesman said on Wednesday. After a fi
Published 06 May, 2005 12:00am
Former Nepal prime minister charged with corruption

Former Nepal prime minister charged with corruption

Nepal's powerful anti-graft commission Thursday charged former prime minister Sher Bahadur Deuba with misappropriation of government funds while in office, a commission spokesman said. "The commission has found out that Deuba had misappropriated the Prime
Published 06 May, 2005 12:00am
UN confirms Kemal for key post

UN confirms Kemal for key post

The UN General Assembly on Thursday confirmed former Turkish finance minister Kemal Dervis as the new head of the influential UN Development Programme (UNDP). The 56-year-old, a former World Bank official, replaces Mark Malloch Brown, the Briton who was n
Published 06 May, 2005 12:00am
Egypt detains 1,000 Brotherhood protesters

Egypt detains 1,000 Brotherhood protesters

Egyptian authorities detained about 1,000 people during nation-wide demonstrations organised by the banned but usually tolerated Muslim Brotherhood in favour of political reform, judicial sources said on Thursday. Public prosecutors or state security pros
Published 06 May, 2005 12:00am
20 insurgents and nine Afghan soldiers killed

20 insurgents and nine Afghan soldiers killed

At least 20 insurgents and nine Afghan soldiers were killed after militants ambushed US and Afghan forces in the southern province of Kandahar, the US military said Thursday. Four Afghan soldiers and one US soldier were also wounded in the firefight on We
Published 06 May, 2005 12:00am
Big staff turnover plagues US rebuilding in Iraq

Big staff turnover plagues US rebuilding in Iraq

Rapid turnover and a shortage of experienced US staff in Iraq managing billions of dollars of contracts is wreaking havoc on a rebuilding plan already slowed down by violence. Companies working in Iraq, auditors and the US government office running the $1
Published 06 May, 2005 12:00am
Kazakhstan shuts down opposition paper

Kazakhstan shuts down opposition paper

Kazakhstan has ordered the closure of one of the central Asian state's few newspapers that criticises the president, in the latest sign of a crackdown ahead of a possible election in December. Respublika, a weekly that supports the opposition, showed repo
Published 06 May, 2005 12:00am
Ten killed in Congo plane crash

Ten killed in Congo plane crash

A plane crashed on Wednesday near the Democratic Republic of Congo's north-eastern city of Kisangani, killing six crew and four Congolese passengers, local officials said on Thursday. Raymond Sangara, head of the civil aviation authority in eastern Congo,
Published 06 May, 2005 12:00am
Berlusconi looks to ease Iraq tensions with US

Berlusconi looks to ease Iraq tensions with US

Prime Minister Silvio Berlusconi insisted on Thursday that US soldiers were to blame for the death of an Italian agent in Iraq, but said the incident would not harm US ties or speed an Italian withdrawal from Iraq. Relations between Italy and the United S
Published 06 May, 2005 12:00am
Sterling on firm footing

Sterling on firm footing

Sterling traded with a firm bias on Thursday, showing few signs of jitters as Britons went to the polls to determine whether Prime Minister Tony Blair wins an historic third term in power. After two landslide victories in 1997 and 2001 opinion polls sugge
Published 06 May, 2005 12:00am
Dollar steadies near low levels

Dollar steadies near low levels

The dollar steadied near a seven-week low against the yen on Thursday amid speculation of a possible Chinese revaluation soon and concerns about US economic prospects ahead of US jobs data on Friday. The US currency was briefly rattled by a blast in front
Published 06 May, 2005 12:00am
Indian rupee at three-month high

Indian rupee at three-month high

The rupee firmed to a fresh three-month high on Thursday morning, boosted by persistent speculation of a yuan revaluation and news India proposed scrapping a voting rights cap in private-sector banks. At 9:45 am (0415 GMT), the rupee was quoted at a 43.45
Published 06 May, 2005 12:00am
US Stocks: Thursday's unofficial close

US Stocks: Thursday's unofficial close

US stocks fell on Thursday after Standard & Poor's cut the debt ratings of General Motors Corp and Ford Motor Co to junk status, dealing a blow to major automakers and companies that supply them. General Motors was down 5.7 percent to $30.92 while Ford fe
Published 06 May, 2005 12:00am
Corporate bonds steady as payrolls awaited

Corporate bonds steady as payrolls awaited

European corporate bonds were little changed on Thursday amid subdued trading as investors awaited a key US jobs report on Friday that may give clues on prospects for global economic growth. A small explosion outside the British consular building in New Y
Published 06 May, 2005 12:00am
Corporate bonds steady as payrolls awaited

Corporate bonds steady as payrolls awaited

European corporate bonds were little changed on Thursday amid subdued trading as investors awaited a key US jobs report on Friday that may give clues on prospects for global economic growth. A small explosion outside the British consular building in New Y
Published 06 May, 2005 12:00am
Euronext chief met Bank of Italy boss on MTS

Euronext chief met Bank of Italy boss on MTS

Euronext Chairman and Chief Executive Jean-Francois Theodore has met the governor of the Bank of Italy to drum up support for the exchange's joint offer with Italy's Borsa SpA for electronic bond market MTS, a French newspaper reported. The daily La Tribu
Published 06 May, 2005 12:00am
Euronext chief met Bank of Italy boss on MTS

Euronext chief met Bank of Italy boss on MTS

Euronext Chairman and Chief Executive Jean-Francois Theodore has met the governor of the Bank of Italy to drum up support for the exchange's joint offer with Italy's Borsa SpA for electronic bond market MTS, a French newspaper reported. The daily La Tribu
Published 06 May, 2005 12:00am
Miners blast FTSE to three-week high, eyeing UK election

Miners blast FTSE to three-week high, eyeing UK election

Britain's top shares charged ahead for a fifth straight day, with mining companies, including BHP Billiton and Xstrata, in the driving seat as investors reckoned recent falls had been overdone, while British Airways gained on bullish traffic figures. The
Published 06 May, 2005 12:00am
Ethanol demand drives Brazil cane expansion

Ethanol demand drives Brazil cane expansion

Demand for fuel ethanol in Brazil and from abroad is driving investments in construction and expansion of 40 sugar-ethanol mills in the country's main centre-south cane region, analyst Datagro said. "There is 12 billion reais ($4.9 billion) being put into
Published 06 May, 2005 12:00am
IMF steps in to aid African cotton farmers

IMF steps in to aid African cotton farmers

The International Monetary Fund will meet cotton producers in Africa later this month to find ways to help governments and struggling farmers cope with falling prices and growing output from China and Brazil. Large African producers Benin, Burkina Faso, M
Published 06 May, 2005 12:00am
Oil prices rise as speculators defend $50

Oil prices rise as speculators defend $50

Oil prices rose on Thursday after speculators rushed in to defend a brief dip below $50 a barrel, even as stockpiles in the United States zipped along at their highest level in nearly six years. "There was an abrupt surge in prices just about five minutes
Published 06 May, 2005 12:00am
Canada traders foresee glut of grain stocks

Canada traders foresee glut of grain stocks

Statistics Canada will probably show farmers had a glut of grain socked away in their bins on March 31 because of depressed offers for poor quality crops, according to traders surveyed ahead of a report slated for Friday. Traders and analysts said they ex
Published 06 May, 2005 12:00am
Gold-backed securities seen on Euronext by 2005

Gold-backed securities seen on Euronext by 2005

European investors will get access to gold-backed securities that allow them to buy a share in a bar of bullion soon, with a listing on the pan-European exchange Euronext seen by the end of this year. Gold Bullion Securities managing director Simon Villag
Published 06 May, 2005 12:00am
New York cotton closes easier

New York cotton closes easier

Cotton futures settled Thursday at a three-week low on speculative and options-linked selling as the market shrugged off news of large purchases by China of cotton, analysts said. The New York Board of Trade's July contract slid 0.63 cent to finish at 53.
Published 06 May, 2005 12:00am
London coffee retreats from 5-1/4-year high

London coffee retreats from 5-1/4-year high

London robusta coffee lost two percent on Thursday as speculators banked profits following the previous session's 5-1/4 year high, dealers said on Thursday. Liffe's most-active July futures contract fell $24 to $1,110 a tonne on turnover of 5,403 lots. It
Published 06 May, 2005 12:00am
Base metals higher

Base metals higher

Base metals were higher by the close of trade on the London Metal Exchange (LME) on Thursday, but sentiment remained fragile on concerns about global growth, traders said. "This is the top end of the ranges and I think we will see things lower tomorrow. T
Published 06 May, 2005 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold prices were steady in Europe on Thursday afternoon, with earlier gains trimmed as currencies moved into a narrow trading band, dealers said. News of an explosion in front of the British consulate in New York failed to bring out fresh safe-haven buyin
Published 06 May, 2005 12:00am
US MIDDAY: coffee falls on speculative selling

US MIDDAY: coffee falls on speculative selling

Arabica coffee futures settled 2 percent lower on Thursday, knocked down by technically-based speculative selling after Wednesday's big jump in prices, dealers said. The New York Board of Trade's most-active July arabica contract fell 2.50 cents, or 2 per
Published 06 May, 2005 12:00am
US MIDDAY: cocoa futures down on reluctant buyers

US MIDDAY: cocoa futures down on reluctant buyers

US cocoa futures settled lower on Thursday as traders remained reluctant buyers mostly due to favourable prospects for a good size mid-crop in West Africa and stability in Ivory Coast, market sources said. At the New York Board of Trade, the benchmark Jul
Published 06 May, 2005 12:00am
US MIDDAY: sugar near two-week low on speculative fund sales

US MIDDAY: sugar near two-week low on speculative fund sales

Raw sugar futures finished Thursday near a two-week low on speculative fund sales and the market may slip given the sweetener's poor performance this week, brokers said. The New York Board of Trade's July raw sugar contract dove 0.26 cent or 3.06 percent
Published 06 May, 2005 12:00am
US MIDDAY: wheat mostly firm in quiet consolidation trading

US MIDDAY: wheat mostly firm in quiet consolidation trading

Wheat futures at the Chicago Board of Trade were mostly firm early on Thursday in quiet consolidation trading, traders said. Traders said the wheat market was attempting to recover from a recent slide and a weak dollar on Thursday may be giving futures a
Published 06 May, 2005 12:00am
US MIDDAY: corn higher in quiet consolidation trading

US MIDDAY: corn higher in quiet consolidation trading

Corn futures at the Chicago Board of Trade closed higher early Thursday in quiet consolidation trading after the fall to new contract lows earlier this week, traders said. CBOT corn closed 1-1/4 to 2 cents per bushel higher. May was up 1-3/4 at $1.99-3/4
Published 06 May, 2005 12:00am
US MIDDAY: copper slips on light follow-through liquidation

US MIDDAY: copper slips on light follow-through liquidation

US copper futures fell early on Thursday on light follow-through liquidation of long positions, but prices held in a narrow range well above key support levels, traders said. "It's continued long liquidation, unable to get through unchanged, day three. So
Published 06 May, 2005 12:00am
US MIDDAY: soya mixed by firm cash markets

US MIDDAY: soya mixed by firm cash markets

Soyabean futures at the Chicago Board of Trade were mixed on Thursday, with the front months underpinned by firm cash markets, traders said. May soyabeans were up 1 cent at $6.21 per bushel and July was 2 higher at $6.26-1/2 by 10:50 am CDT (1550 GMT). Th
Published 06 May, 2005 12:00am
US MIDDAY: gold firms on speculative short covering

US MIDDAY: gold firms on speculative short covering

US gold futures stretched higher early Thursday morning amid speculative short covering sparked by US dollar softness and inflation worries with crude oil prices also edging up, dealers said. But, after two US economic reports failed to make a splash, tra
Published 06 May, 2005 12:00am
CDGK, Suparco sign accord on digital surveys

CDGK, Suparco sign accord on digital surveys

The City District Government Karachi (CDGK) and Suparco on Wednesday signed an agreement for topographic, traverse and various other types of digital surveys for Karachi Mass Transit Corridor. The agreement was signed by City Nazim Naimatullah Khan, Supar
Published 06 May, 2005 12:00am
Incentives attract expatriates to invest at home: Memon

Incentives attract expatriates to invest at home: Memon

Senator Nisar Memon on Wednesday said more and more Pakistanis were feeling attracted to invest in the country, by taking advantage of the available lucrative incentives. The ventures, he said help create job opportunities for the qualified persons and le
Published 06 May, 2005 12:00am
PAF Sabre a part of China's aviation museum

PAF Sabre a part of China's aviation museum

A Sabre aircraft from Pakistan Air Force has been a part of finest display at China's historical Aviation Museum, located at 40 miles north of Beijing. It symbolised the traditional and decades old co-operation between the two countries in the defence sec
Published 06 May, 2005 12:00am
Honorary investment counsellor appointed in UK

Honorary investment counsellor appointed in UK

Mayor of Brent Councillor Ahmad Shahzad has been appointed Pakistan's Honorary Investment Counsellor for London to help spur investment by interacting with potential British investors, said Islamabad's High Commissioner to UK Dr Maleeha Lodhi here late on
Published 06 May, 2005 12:00am
'Import of cattle and food items attempt to hoodwink people'

'Import of cattle and food items attempt to hoodwink people'

The Pakistan Muslim League (PML-N) has termed the government's announcement allowing import of cattle and food items an attempt to hoodwink people. PML-N Central Information Secretary Muhammad Siddique-ul-Farooque, in a statement here on Wednesday, said P
Published 06 May, 2005 12:00am
CDA yet to get full financial autonomy

CDA yet to get full financial autonomy

The Capital Development Authority (CDA) has yet to get full financial autonomy, as the authority has yet not been empowered to launch any development schemes without the approval of the Planning Commission and Finance Division, sources said on Thursday. E
Published 06 May, 2005 12:00am
'Pakistan confronting with terrorism for its own security'

'Pakistan confronting with terrorism for its own security'

The deputy chief of the Mission, Embassy of Pakistan has said terrorism was threatening Pakistani society, and "we are confronting it not for the United States, but in our own interest and security." In an interview with CNN, Mohammad Sadiq said, "terrori
Published 06 May, 2005 12:00am
Asian women find success in the boardroom

Asian women find success in the boardroom

TV executive Michelle Guthrie is adamant she wouldn't have got the high-flying promotions she's had in Asia if she were living in her native Australia. "It's a different world here - the opportunities for women are so much better than in the West," Guthri
Published 06 May, 2005 12:00am
Service charges

Service charges

I would like to draw the attention to the Governor of the State Bank that the banks are levying "service charges" of Rs 50 per month on the PLS account if the average balance is less then Rs 5,000 pm but not giving any profit on whatever balance is in the
Published 06 May, 2005 12:00am
Schon Circle underpass

Schon Circle underpass

A lot has been written in the newspapers about the on-going construction work at Schon Circle. I would like to congratulate the City Government, the Karachi Port Trust and the Frontier Work Organisation in particular for the speed with which they are carr
Published 06 May, 2005 12:00am
Tutorial on futures market-III

Tutorial on futures market-III

Delivery Standardisation: When a particular bond is delivered, a parameter known as its "Conversion Factor" (to be explained later) defines the price received by the party with the short position (the seller). Thus the cash received for each PKR 100 face
Published 06 May, 2005 12:00am
The City Government's budget

The City Government's budget

Presenting the City District Government Karachi's Rs 42.971 billion, development-oriented budget, for 2005-06, with a surplus of Rs 179.76 million, before the City Council, on April 30, City Nazim Naimatullah Khan claimed with a sense of understandable pr
Published 06 May, 2005 12:00am
Stabilising the prices of kitchen items

Stabilising the prices of kitchen items

It is a pity that our economic managers, at times, are too slow to recognise the gravity of a situation and then decide to react in a knee-jerk fashion. In the recent past, the prices of kitchen items have been rising sharply, pushing up the inflation rat
Published 06 May, 2005 12:00am
News against former KCCI chief denied

News against former KCCI chief denied

Karachi Chamber of Commerce and Industry (KCCI) President Khalid Firoz has advised newsmen to publish news after thorough verification. Addressing a hurriedly called press conference at the KCCI, he pointed out that a news item appearing in a section of p
Published 06 May, 2005 12:00am
The Weather

The Weather

The weather report on Thursday (May 05) and the forecast for Friday (May 06, 2005).
Published 06 May, 2005 12:00am
Shahmurad TFC rating maintained

Shahmurad TFC rating maintained

The Pakistan Credit Rating Agency (PACRA) has maintained the rating assigned to the secured TFC issue of Rs 200 million of Shahmurad Sugar Mills Limited (SSML) at 'BBB' (Triple B). The rating denotes a low expectation of credit risk and an adequate capaci
Published 06 May, 2005 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 06 May, 2005 12:00am
Shahmurad TFC rating maintained

Shahmurad TFC rating maintained

The Pakistan Credit Rating Agency (PACRA) has maintained the rating assigned to the secured TFC issue of Rs 200 million of Shahmurad Sugar Mills Limited (SSML) at 'BBB' (Triple B). The rating denotes a low expectation of credit risk and an adequate capaci
Published 06 May, 2005 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 06 May, 2005 12:00am
Sindh University computer training programme

Sindh University computer training programme

Sindh University Institute of Mathematics and Computer Science (IMCS) has organised a two-week computer-training programme for freshly inducted teachers of various institutes and departments of the varsity. IMCS Director Professor Dr Noor Ahmed Shaikh hig
Published 06 May, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2005).

Published 06 May, 2005 12:00am
Al-Noor Sugar gets A2 rating

Al-Noor Sugar gets A2 rating

The Pakistan Credit Rating Agency (PACRA) has assigned the short-term rating of A2 (A Two) to the secured TFC issue of Rs 203.6 million of Al-Noor Sugar Mills Limited (ANSML), due for final redemption in October 2005. The rating denotes a low expectation
Published 06 May, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2005).

Published 06 May, 2005 12:00am
Al-Noor Sugar gets A2 rating

Al-Noor Sugar gets A2 rating

The Pakistan Credit Rating Agency (PACRA) has assigned the short-term rating of A2 (A Two) to the secured TFC issue of Rs 203.6 million of Al-Noor Sugar Mills Limited (ANSML), due for final redemption in October 2005. The rating denotes a low expectation
Published 06 May, 2005 12:00am
Key stock market movements at 1700 GMT on May 05

Key stock market movements at 1700 GMT on May 05

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 06 May, 2005 12:00am
PPL launches 10-year oil and gas exploration plan

PPL launches 10-year oil and gas exploration plan

Pakistan Petroleum Limited (PPL), the country's largest producer of natural gas, has launched a major 10-year oil and gas exploration plan to enhance reserves and optimise hydrocarbon production through application of modern technology. The PPL, which pla
Published 06 May, 2005 12:00am
ADB proposes fund for Karachi uplift

ADB proposes fund for Karachi uplift

The Asian Development Bank (ADB) has proposed to establish Karachi Infrastructure Development Fund (KIDF) for the development of the city on fast track, it was learnt reliably on Thursday. Well-placed sources disclosed to Business Recorder that the
Published 06 May, 2005 12:00am
Zubair to be acting FPCCI president

Zubair to be acting FPCCI president

Federation of Pakistan Chambers of Commerce and Industry's Vice-President Zubair Ahmed Malik will be the acting President of the FPCCI during the absence of the FPCCI President Chaudhry Muhammad Saeed, who is accompanying Prime Minister Shaukat Aziz on hi
Published 06 May, 2005 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (May 05, 2005).

Published 06 May, 2005 12:00am
Call for better environment at workplaces

Call for better environment at workplaces

"Occupational health and safety at workplace as well as good working conditions are government's primary concern", said Syed Hakim Ali Shah Bukhari, director-general, National Institute of Labour Administration and Training (NILAT), here on Wednesday. He
Published 06 May, 2005 12:00am
Khokhrapar rail track inauguration likely on May 9

Khokhrapar rail track inauguration likely on May 9

Railway Engineering Department Mirpurkhas has completed the work of converting a kilometre- long meter gauge railway track into broad gauge railway track from Khokhrapar railway station towards Zero Point borderline after shifting the programme of start o
Published 06 May, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 05, 2005).

Published 06 May, 2005 12:00am
Naimat for transparent selection of KU officials

Naimat for transparent selection of KU officials

City Nazim Karachi Naimatullah Khan has requested vice-chancellor, University of Karachi Dr Pirzada Qasim to take KU syndicate into the confidence on recruitment of fresh KU officials, declare the ongoing selection process null and void and hold it in acc
Published 06 May, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Thursday (May 05) and for Friday (May 06, 2005).
Published 06 May, 2005 12:00am
FPCCI to ink MoU with Malaysian chambers

FPCCI to ink MoU with Malaysian chambers

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Chaudhry Muhammad Saeed will sign a memorandum of understanding (MoU) with the National Chamber of Commerce and Industry, Malaysia, for the establishment of Pakistan-Malaysia Joint B
Published 06 May, 2005 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Thursday (May 05, 2005).

Published 06 May, 2005 12:00am
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