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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-26
Condolence

Condolence

Punjab Chief Minister Chaudhry Pervaiz Elahi here on Tuesday expressed deep sense of grief and sorrow over the sad demise of former Chief Justice Lahore Higher Court Ghulam Mujadid Mirza. The Chief Minister prayed for the departed soul's eternal peace and
Published 26 May, 2005 12:00am
Textile exporters: Citigroup to provide hedging facility in Faisalabad

Textile exporters: Citigroup to provide hedging facility in Faisalabad

Citigroup has decided to provide hedging facility to the textile exporters of Faisalabad dealing in foreign change. This was disclosed in a presentation given to the members of Pakistan Textile Exporters Association (PTEA) here Wednesday. Citigroup expert
Published 26 May, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
Justice Mujadid's death condoled

Justice Mujadid's death condoled

Chairman Senate Mohammedmian Soomro and Leader of the House in the Senate, Wasim Sajjad, have condoled the death of Justice Ghulam Mujadid Mirza (Retd), former Chief Justice of the Lahore High Court and former Judge of the Supreme Court. In their separate
Published 26 May, 2005 12:00am
Punjab chief minister announces hospital and dry port in north Lahore

Punjab chief minister announces hospital and dry port in north Lahore

Punjab Chief Minister Chaudhry Pervaiz Elahi on Tuesday announced setting up of a hospital, two degree colleges, dry port, overhead bridge and provision of Sui gas for the people of North Lahore. He was addressing a public meeting here. The chief minister
Published 26 May, 2005 12:00am
PML strengthening parliamentary democratic system

PML strengthening parliamentary democratic system

Punjab Chief Minister, Chaudhry Pervaiz Elahi has directed that PML mass contact campaign should be made more effective for accelerating the pace of membership process of the party. While talking to members of national and provincial assemblies of Gujranw
Published 26 May, 2005 12:00am
THE RUPEE: five paisa fall in open market

THE RUPEE: five paisa fall in open market

Falling trend was seen in the open market on Wednesday as the rupee shed five paisa against the dollar for buying and selling at 60.70 and 60.80, dealers said. Since the oil prices started rising in the global markets, the dollar demands increased in the
Published 26 May, 2005 12:00am
Farewell reception

Farewell reception

A farewell dinner was arranged here on Wednesday in honour of M Azam Khan Shad, Deputy General Manager Finance, Wapda Power Privatisation Organisation on his superannuation. Pepco Chief Executive Officer, Muhammad Amjad, former members Power (Wapda) Asgha
Published 26 May, 2005 12:00am
THE RUPEE: five paisa fall in open market

THE RUPEE: five paisa fall in open market

Falling trend was seen in the open market on Wednesday as the rupee shed five paisa against the dollar for buying and selling at 60.70 and 60.80, dealers said. Since the oil prices started rising in the global markets, the dollar demands increased in the
Published 26 May, 2005 12:00am
PTEA seeks incentives for fabrics, bed-linen sectors

PTEA seeks incentives for fabrics, bed-linen sectors

Fabrics and bed-linen exporters have demanded of the government to buttress aggressive marketing and diversification efforts of exporters to maintain the export tempo which has suffered serious setback resulting from external tariff barriers and domestic
Published 26 May, 2005 12:00am
'Government to provide more loans to farmers'

'Government to provide more loans to farmers'

Minister for Food and Agriculture, Sikandar Hayat Khan Bosan on Tuesday said the government is committed to increase agri-production, which is necessary for socio-economic development of the country. He stated this while addressing a pre-budget seminar he
Published 26 May, 2005 12:00am
Early settlement of Kashmir dispute stressed

Early settlement of Kashmir dispute stressed

President Jammu and Kashmir Liberation League and former Chief Justice of AJK High Court, Justice Abdul Majeed Malik (Retd) has urged the international community to play a proactive role for the peaceful solution of lingering Kashmir dispute. Talking to A
Published 26 May, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
Urs of Bari Imam concludes today

Urs of Bari Imam concludes today

The five-day annual Urs of Shah Latif Bari Qadri popularly known as Bari Imam will conclude here on Thursday. Thousands of devotees from all over the country are participating in the Urs to pay homage to the great sufi saint at the historical mirro
Published 26 May, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
Proposals invited for new industrial policy

Proposals invited for new industrial policy

The government is keen to promote export culture in the province, and will welcome proposals of business and trade communities in this regard for consideration and incorporation in the new industrial policy, said Punjab minister for Industries, Ajmal Chee
Published 26 May, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
NADRA develops automatic kiosks

NADRA develops automatic kiosks

Building on the existing technologies of Biometrics Identification and Online Verification, NADRA has developed automated kiosks for various day-to-day transactions involving banking as well as the service sector. The bill payment machine or online paymen
Published 26 May, 2005 12:00am
Pakistan and India urged to resolve disputes

Pakistan and India urged to resolve disputes

Speakers of the legislative assemblies of Punjab (India) and Punjab (Pakistan) have welcomed the on-going peace process and urged both the Indian and Pakistani governments to speed it up in larger interest of people. They were talking to APP at Wagha bord
Published 26 May, 2005 12:00am
Bahawalpur Saudi Pak Bank branch opens

Bahawalpur Saudi Pak Bank branch opens

Saudi Pak Commercial Bank President and CEO Mansoor M. Khan has said that network of bank branches would be expanded to 100 till 2007, while the number of branches would be expanded to 50 by the year end. Talking to newsmen on Wednesday after inauguration
Published 26 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 Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
Laws to monitor private sector housing schemes on the cards

Laws to monitor private sector housing schemes on the cards

Punjab government will introduce new laws to monitor private sector housing schemes, to ensure protection of public investment and to eliminate fraudulent housing developers. This was stated by Punjab Co-operatives minister Colonel Malik Mohammad Anwar (R
Published 26 May, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, May 26, 2005.
Published 26 May, 2005 12:00am
PCI and Chinese company ink MoU for wireless pay phone

PCI and Chinese company ink MoU for wireless pay phone

Pakistan Communication Industries (PCI), a subsidiary of Telecom Foundation of Pakistan Tele- communication Company Ltd on Wednesday inked a memorandum of understanding (MoU) with a Chinese company for manufacture of wireless pay phones in Pakistan. Tina
Published 26 May, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, May 26, 2005.
Published 26 May, 2005 12:00am
Six injured in transporters clash

Six injured in transporters clash

A clash took place between the wagon drivers and city bus service owners, after wagon owners and drivers observed strike on Wednesday and they blocked the traffic on Dera Adda by burning tyres. Upon this, city bus service employees opened fires resultantl
Published 26 May, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, May 26, 2005.
Published 26 May, 2005 12:00am
'Traders dealing in quality tea should not be harassed'

'Traders dealing in quality tea should not be harassed'

City Nazim, Naimatullah Khan, held a meeting with the President Tea Association, Mohammed Hanif Janoo, Vice-President KCCI Abdul Majeed Haji Mohammed, Nazim UC-5, Jamshed Town, Imran Saeed Baghpati and representatives of other tea traders. He directed the
Published 26 May, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (May 25) and for Thursday (May 26, 2005).
Published 26 May, 2005 12:00am
Faculty development programme at Punjab University

Faculty development programme at Punjab University

The Punjab University's Human Resource Development Centre (HRDC) is conducting faculty development programme in collaboration with the Higher Education Commission (HEC) at the Institute of Administrative Sciences. This programme is running from 9th May to
Published 26 May, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
Thousands rally against desecration of Quran

Thousands rally against desecration of Quran

Around 5,000 people rallied here on Wednesday against desecration of the Holy Quran by US military interrogators at Guantanamo Bay prison, torching an effigy of US President George W. Bush, witnesses said. The protestors, mostly Islamic students, also cha
Published 26 May, 2005 12:00am
Musharraf lauds CDGK for setting up KIHD

Musharraf lauds CDGK for setting up KIHD

President General Pervez Musharraf has lauded efforts of City District Government of Karachi (CDGK) for setting up Karachi Institute of Heart Diseases (KIHD), to be inaugurated in first week of June, 2005 in FB Area, Karachi. The President in his message
Published 26 May, 2005 12:00am
Body formed to discuss LHCBA issues with Chief Justice

Body formed to discuss LHCBA issues with Chief Justice

The Lahore High Court Bar Association (LHCBA) has constituted a committee comprising six former Association presidents for holding dialogues with the Chief Justice of the Lahore High Court (LHC) pertaining to restoration of Sui gas and electricity supply
Published 26 May, 2005 12:00am
Key stock market movements at 1700 GMT on May 25

Key stock market movements at 1700 GMT on May 25

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 26 May, 2005 12:00am
Three dacoits killed in encounter

Three dacoits killed in encounter

Three dacoits were killed in an encounter with police after snatching a car here on Tuesday. Two policemen also received injuries in the shootout. One of the dacoits was later identified as Muhammad Amin. According to details, the dacoits snatched a car f
Published 26 May, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
PML-Q and ARD back MMA's protest rally on May 27

PML-Q and ARD back MMA's protest rally on May 27

The ruling PML-Q and opposition Alliance for Restoration of Democracy (ARD) have fully backed the anti-US protest call given by the Muttahidda Majlis-i-Amal (MMA) against desecration of Holy Quran across the country on Friday (tomorrow, May 27). PML annou
Published 26 May, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 25, 2005).

Published 26 May, 2005 12:00am
15,000 students will be sent to foreign universities

15,000 students will be sent to foreign universities

As many as 15,000 Pakistani students would be sent to foreign universities for higher education during the next eight years, Professor Atta-ur-Rahman, Chairman Higher Education Commission said on Tuesday. The objective was to train Pakistani youth in basi
Published 26 May, 2005 12:00am
New York cotton

New York cotton

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

Published 26 May, 2005 12:00am
Chinese export commodity fair from June 24

Chinese export commodity fair from June 24

Kashi, a border city in south-western part of Xinjiang Uygur Autonomous Region, north-west China, will host a four-day export commodity fair in Karachi on June 24. It is aimed at encouraging bilateral trade and exploring the new avenues of business co-ope
Published 26 May, 2005 12:00am
New York cotton

New York cotton

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

Published 26 May, 2005 12:00am
'US assures probe into Quran desecration'

'US assures probe into Quran desecration'

Foreign Office Spokesman, Jalil Abbas Jillani has said that Pakistan was in touch with the US administration on the issue of desecration of the Holy Quran in Guantanamo Bay. "We have been assured by the US administration that a proper investigation would
Published 26 May, 2005 12:00am
The Weather

The Weather

The weather report on Wednesday (May 25) and the forecast for Thursday (May 26, 2005).
Published 26 May, 2005 12:00am
Al-Falah Bank opens branch in Attock

Al-Falah Bank opens branch in Attock

Chief Executive Al-Falah Bank, Mohammad Saleem Akhtar said that their bank was playing an important role in country's economy adding that the opening of new branch would further bring progress and prosperity in the area. Speaking at the inaugural ceremony
Published 26 May, 2005 12:00am
Envoys-designate present credentials to President

Envoys-designate present credentials to President

Ambassador-designates from six countries on Wednesday presented their credentials to President General Pervez Musharraf at the Aiwane-Sadr. They arrived separately at the President House and were presented guard of honour by a contingent of Pakistan Army.
Published 26 May, 2005 12:00am
ACCA gets EU funding

ACCA gets EU funding

The Association of Chartered Certified Accountants (ACCA) Pakistan has gained European Union (EU) funding under the Small Projects Funding (SPF) to carry out a major project which would highlight the importance of sustainable business practices to the cou
Published 26 May, 2005 12:00am
Rs 50 billion welfare plan for AJK people

Rs 50 billion welfare plan for AJK people

An integrated Rs 50 billion plan for five years had been inked by the Azad Jammu and Kashmir (AJK) government to raise the standard of living of the common man, official sources said on Wednesday. The sources told newsmen that the amount would be exclusiv
Published 26 May, 2005 12:00am
BCP launches job attachment scheme for the disabled

BCP launches job attachment scheme for the disabled

The British Council Pakistan has piloted a job attachment scheme for people with learning difficulties in conjunction with the Diversity Unit in the UK and Karachi Vocational Training Centre (KVTC), which provides skill development training to disabled pe
Published 26 May, 2005 12:00am
Pace of work on RBOD reviewed

Pace of work on RBOD reviewed

Corps Commander Karachi, Lieutenant General Syed Athar Ali on Wednesday reviewed the ongoing work of the Right Bank Outfall Drain (RBOD) and directed the concerned departments to remove all hurdles in the speedy pace of work, said an ISPR release issued h
Published 26 May, 2005 12:00am
Prgmea urges availability of potassium permanganate

Prgmea urges availability of potassium permanganate

Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea) has again invited the attention of central board of revenue (CBR) towards non-availability of potassium permanganate (KMnO4) which is used in chemical blasting of denim jeans. In a
Published 26 May, 2005 12:00am
'Kashmiri leaders be included in talks'

'Kashmiri leaders be included in talks'

"The positive outcome of the ongoing CBMs and dialogue process between Pakistan and India is the result of broad-based policies, bold and unequivocal stand by President General Pervez Musharraf and Prime Minister Shaukat Aziz on the Kashmir issue". This w
Published 26 May, 2005 12:00am
APP and Nepalese news agency sign agreement

APP and Nepalese news agency sign agreement

Associated Press of Pakistan (APP) and Rashtariya Samachar Samiti (The national news agency of Nepal) signed a bilateral news exchange agreement here on Wednesday to promote co-operation in the field of media. Fazal-ur-Rahman Malik, Director General APP a
Published 26 May, 2005 12:00am
UHS attaches importance to allied health sciences

UHS attaches importance to allied health sciences

University of Health Sciences (UHS), Lahore attaches importance to allied health sciences as well and has, therefore, approved the launching of various degree courses including B.Sc. Medical Lab Technology, B.Sc. Medical Imaging Technology and B.Sc. Physi
Published 26 May, 2005 12:00am
No easy task to sustain growth momentum

No easy task to sustain growth momentum

The economy of Pakistan, notwithstanding an impressive growth rate during 2004-05, is beset by a number of problems which, if not attended to properly, could lead to undesirable consequences. This, in nutshell, is the latest message from the State Bank of
Published 26 May, 2005 12:00am
A critical analysis of NBP report for 2004

A critical analysis of NBP report for 2004

National Bank of Pakistan (NBP) has earned pre-tax profit of Rs 12.025 billion during the calendar year 2004 which reflects an increase of 33.5 per cent over the pre-tax profit of Rs 9.009 billion earned during the previous year 2003. The post-tax profit
Published 26 May, 2005 12:00am
Libya lobbyist holds seat on top US energy board

Libya lobbyist holds seat on top US energy board

Although the United States still classifies Libya as a terrorism sponsor, the US lobbyist for Muammar Gaddafi has for the past year quietly held a seat on the Energy Department's top advisory board, and the man who appointed her now serves on the board of
Published 26 May, 2005 12:00am
Discrimination against contract staff

Discrimination against contract staff

Discrimination has never been supported neither by any country nor any government. But it is very strange that in this modern age, many government, semi-government and autonomous bodies are using discrimination-based policies towards the staff, employed/r
Published 26 May, 2005 12:00am
Loadshedding unabated

Loadshedding unabated

The KESC, keeping to its old traditions, is very religiously resorting to indiscriminate loadshedding in the various areas of the city, except for some posh localities where the loadshedding is for name's sake only. Gulistan-e-Jauhar's residents are great
Published 26 May, 2005 12:00am
Desperate Bangladeshi migrants lured to tragedy by human smugglers

Desperate Bangladeshi migrants lured to tragedy by human smugglers

Tears roll down Hajera Khatun's face as her son recounts the nine days he spent lost at sea without food or drinking water after an illegal attempt to enter Italy ended in tragedy. Robiul Islam gambled his life for the chance to work in Europe. But soon a
Published 26 May, 2005 12:00am
Plea to allow farm cooling tanks import at 5 percent duty

Plea to allow farm cooling tanks import at 5 percent duty

The Small and Medium Enterprise Development Authority (Smeda) has urged the government to allow import of Farm Cooling Tanks (FCT) at the rate of five-percent customs duty like other dairy equipment so as to promote the dairy sector. This proposal was giv
Published 26 May, 2005 12:00am
Islamic financing modes beneficial for SMEs

Islamic financing modes beneficial for SMEs

The Islamic modes of financing can be more beneficial to the small and medium enterprises (SMEs), said Professor Iqbal M. Khan, Advisor to the Crescent Standard Investment Bank (CSIB). While addressing a one-day seminar on the topic of "Exploring Financin
Published 26 May, 2005 12:00am
Favouritism crippling our society: Supreme Court

Favouritism crippling our society: Supreme Court

The Supreme Court of Pakistan, while dismissing a petition filed by Education Department in limine, has observed that favouritism is crippling our society and it is dishonesty to deprive a person from his due right. The apex court while rejecting the appe
Published 26 May, 2005 12:00am
Students urged to strengthen Nawaz Sharif's hands

Students urged to strengthen Nawaz Sharif's hands

PML-N leader Sardar Zulfiqar Ali Khosa, has urged students to contribute their due role, like they performed in the days of Pakistan movement, to safeguard the country from authoritarian rulers and join in the struggle of Nawaz Sharif. He was addressing a
Published 26 May, 2005 12:00am
US MIDDAY: gold firmer on durable goods orders data

US MIDDAY: gold firmer on durable goods orders data

Gold futures firmed early Wednesday, but gyrated near three-month lows as the dollar seesawed on mixed US durable goods orders data. New orders for long-lasting manufactured items - from washing machines to aircraft - climbed 1.9 percent in April, but fel
Published 26 May, 2005 12:00am
US MIDDAY: soya sharply higher on speculative buying

US MIDDAY: soya sharply higher on speculative buying

Soyabean futures at the Chicago Board of Trade rallied early Wednesday, sparked by worries that dry, cool crop weather was slowing the growth of this year's US soya crop, traders said. Soyabeans gapped higher on the open and July was hovering near a two-m
Published 26 May, 2005 12:00am
US MIDDAY: copper gains on home sales data

US MIDDAY: copper gains on home sales data

US copper futures gained at the open on Wednesday then firmed within a tiny range after US durable goods orders and home sales data pointed to strong demand for the red metal, traders said. A disturbance at Peru's third largest mine added to worries about
Published 26 May, 2005 12:00am
US MIDDAY: corn moves up on commercial hedge pressure

US MIDDAY: corn moves up on commercial hedge pressure

Corn futures at the Chicago Board of Trade shot to a two-month high Wednesday amid worries that cool weather was slowing corn growth and that the eastern US Midwest rain could be dry for at least the next week, traders said. But market moved off its highs
Published 26 May, 2005 12:00am
US MIDDAY: wheat lower on commercial hedge selling

US MIDDAY: wheat lower on commercial hedge selling

Chicago Board of Trade wheat futures were lower at midday on Wednesday as commercial hedge selling offset earlier strength, traders said. As of 12:01 pm CDT (1701 GMT), CBOT July wheat was down 2-1/2 cents at $3.29-1/2 per bushel, with deferred months dow
Published 26 May, 2005 12:00am
US MIDDAY: sugar futures jump on trade, speculative buying

US MIDDAY: sugar futures jump on trade, speculative buying

Raw sugar futures vaulted to their best close in a week on Wednesday due to a late flurry of trade and speculative buying, but operators were uncertain if the market could crawl up in the days ahead, brokers said. The New York Board of Trade's July raw su
Published 26 May, 2005 12:00am
US MIDDAY: cocoa down on producer selling

US MIDDAY: cocoa down on producer selling

New York cocoa futures sagged Wednesday for the second consecutive session, pressured by ample supply and prospects for more producer selling in coming weeks, analysts and traders said. The New York Board of Trade's most-active July cocoa contract retreat
Published 26 May, 2005 12:00am
US MIDDAY: coffee extends rally on speculators buying

US MIDDAY: coffee extends rally on speculators buying

Arabica coffee rose more than 2 percent Wednesday, buoyed for the fourth consecutive session by speculators buying on seasonal factors and gains in other commodities, market sources said. The New York Board of Trade's most active July arabica contract ros
Published 26 May, 2005 12:00am
Gold holds gains in Europe

Gold holds gains in Europe

Gold held around the highs of a narrow range on Wednesday in Europe, assisted by the dollar dipping after US durable goods data, but bearish sentiment prevailed. Traders said that despite its slip this afternoon, as durable goods orders were stronger than
Published 26 May, 2005 12:00am
Copper extends gains

Copper extends gains

London Metal Exchange (LME) copper prices extended gains in thin trade on Wednesday on consumer and technical buying, supported by a two percent fall in exchange stocks, traders said. Three-months copper was at $3,069 a tonne, up $19 from Tuesday's London
Published 26 May, 2005 12:00am
London coffee scores fresh highs

London coffee scores fresh highs

London's coffee market closed up on Wednesday after getting a late-afternoon boost from New York, where arabicas rose sharply for the fourth consecutive session, dealers said. Liffe July opened $10 down on Tuesday, trading below the 5-1/4-year peak of $1,
Published 26 May, 2005 12:00am
New York cotton settles marginally higher

New York cotton settles marginally higher

Cotton futures settled marginally higher Wednesday on buying by small speculators as the market awaited the release of a government report tomorrow to provide leads on the next move, brokers said. The New York Board of Trade's July contract rose 0.29 cent
Published 26 May, 2005 12:00am
Tainted biotech maize impounded at Irish port

Tainted biotech maize impounded at Irish port

A United States consignment of genetically modified corn gluten feed tainted with an illegal strain has been impounded upon arrival at an Irish port, the European Commission said on Wednesday. The feed was contaminated with the banned Bt-10, a genetically
Published 26 May, 2005 12:00am
World oil leaps 2.6 percent as US stockpiles fall

World oil leaps 2.6 percent as US stockpiles fall

Oil prices surged 2.6 percent on Wednesday after a report from the US government showed an unexpected fall in crude inventories in the world's largest energy consumer, pulling supplies down from 6-year peaks. US light sweet crude ended up $1.31 to $50.98
Published 26 May, 2005 12:00am
World oil leaps 2.6 percent as US stockpiles fall

World oil leaps 2.6 percent as US stockpiles fall

Oil prices surged 2.6 percent on Wednesday after a report from the US government showed an unexpected fall in crude inventories in the world's largest energy consumer, pulling supplies down from 6-year peaks. US light sweet crude ended up $1.31 to $50.98
Published 26 May, 2005 12:00am
Canada's net farm income gets boost

Canada's net farm income gets boost

Net cash income on Canadian farms was up more than 34 percent in 2004 compared with the previous year, but was still slightly below the five-year average, Statistics Canada said on Wednesday. Statscan said farmers' gross revenues exceeded their operating
Published 26 May, 2005 12:00am
Rwanda coffee output seen down

Rwanda coffee output seen down

Rwanda said it expects its 2005 coffee output to fall by 7.4 percent from last year, but the tiny central African nation projects tea volumes will grow by 7.7 percent, an official said on Wednesday. Coffee production is expected to decline from last year'
Published 26 May, 2005 12:00am
Drought cuts Mozambique crop

Drought cuts Mozambique crop

Mozambique expects its cereal production to drop by 5 percent this year to 1.8 million tonnes due to poor rains, leaving some 270,000 families vulnerable, officials said on Wednesday. The maize harvest is expected to be the most affected, falling from 1.4
Published 26 May, 2005 12:00am
FTSE sags, weighed down by telecoms and retailers

FTSE sags, weighed down by telecoms and retailers

Britain's blue-chip FTSE 100 index closed lower on Wednesday, dragged back by telecoms and retailers which saw GUS fall 3.1 percent as the firm kept mum on a firm date to spin off its Experian financial services arm. GUS said it would hive off its remaini
Published 26 May, 2005 12:00am
Seoul shares 1 percent lower

Seoul shares 1 percent lower

Seoul shares experienced their biggest one-day loss for two weeks on Wednesday, as exporters such as Samsung Electronics fell on worries about more rises in US interest rates cooling the key American market. The minutes of the US Federal Reserve's May mee
Published 26 May, 2005 12:00am
Singapore shares down

Singapore shares down

Singapore share prices closed 0.68 percent lower on Wednesday, weighed down by falls in blue chip Singapore Telecommunications (SingTel) and heavyweight banking stocks, dealers said. The Straits Times Index declined 14.73 points to 2,160.47 on volume of 5
Published 26 May, 2005 12:00am
US: Stocks: Wednesday's unofficial close

US: Stocks: Wednesday's unofficial close

US stocks fell on Wednesday as oil prices rose more than $1 a barrel after data showed an unexpected drop in crude stockpiles last week, hurting investor sentiment about the economy. Shares of Dow industrial companies that are benchmarks of the US economy
Published 26 May, 2005 12:00am
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