News Archives for Print - 2005-06-03

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

E&T department seals 2 gold importers' offices

Initiating action against major tax defaulters the Excise and Taxation Department Sindh sealed the offices of two major gold importers M/s Tessori Trading (Pvt) Ltd and SB (Pvt) Ltd for their failure in paying taxes despite issuance of several notices to

Published 03 Jun, 2005 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Israel releases 400 Palestinian detainees

Israel released some 400 Palestinian prisoners on Thursday to the delight of their families in a bid to bolster Palestinian leader Mahmud Abbas and fulfil a pledge made in February. The gesture came a day after the 70-year-old Abbas underwent "routine" me

Published 03 Jun, 2005 12:00am

Banks' rates for currency notes (buying and selling)

The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Israel releases 400 Palestinian detainees

Israel released some 400 Palestinian prisoners on Thursday to the delight of their families in a bid to bolster Palestinian leader Mahmud Abbas and fulfil a pledge made in February. The gesture came a day after the 70-year-old Abbas underwent "routine" me

Published 03 Jun, 2005 12:00am

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Indian Prime Minister to visit Siachen

Prime Minister Manmohan Singh will become the first Indian leader to visit the world's highest battlefield on the Siachen Glacier in occupied Kashmir next week, a spokesman said on Thursday. "The prime minister will visit Ladakh on June 10, 11 and 12. Dur

Published 03 Jun, 2005 12:00am

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 Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

PTCL workers continue protest

The week-long protest of Pakistan Telecommunication Company Limited (PTCL) employees against the privatisation of the company continued on Thursday, and the protesting employees held rallies and protest meetings at various places in the provincial capital

Published 03 Jun, 2005 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Tax Zone ''E'' to drop 4,000 cases of business entities

The Tax Zone ''E'' of the Regional Commissioner of Income Tax (RCIT) Southern Region is to drop 4,000 tax cases of business entities not operative for more than five years. The Zone administers over 24,000 tax cases in leading market areas, including Tari

Published 03 Jun, 2005 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Tax Zone 'E' to drop 4,000 cases of business entities

The Tax Zone 'E' of the Regional Commissioner of Income Tax (RCIT) Southern Region is to drop 4,000 tax cases of business entities not operative for more than five years. The Zone administers over 24,000 tax cases in leading market areas, including Tariq

Published 03 Jun, 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 Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Tax Zone 'E' to drop 4,000 cases of business entities

The Tax Zone 'E' of the Regional Commissioner of Income Tax (RCIT) Southern Region is to drop 4,000 tax cases of business entities not operative for more than five years. The Zone administers over 24,000 tax cases in leading market areas, including Tariq

Published 03 Jun, 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 Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

PIA announces one-time 10 percent cut on international routes

The Pakistan International Airlines (PIA) has announced a one time 10 percent reduction in fares for about a dozen international destinations on its network. Those fares would be available only for a limited period of 25 days ie between June 6 and June 30

Published 03 Jun, 2005 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

PIA announces one-time 10 percent cut on international routes

The Pakistan International Airlines (PIA) has announced a one time 10 percent reduction in fares for about a dozen international destinations on its network. Those fares would be available only for a limited period of 25 days ie between June 6 and June 30

Published 03 Jun, 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 03 Jun, 2005 12:00am

PIA announces one-time 10 percent cut on international routes

The Pakistan International Airlines (PIA) has announced a one time 10 percent reduction in fares for about a dozen international destinations on its network. Those fares would be available only for a limited period of 25 days ie between June 6 and June 30

Published 03 Jun, 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 03 Jun, 2005 12:00am

Rangers deployed to check water theft

Pakistan Rangers (Sindh) have been deployed to start checking of modules in the wake of growers'' complaints about non-availability of water at tail ends, mainly due to water theft. Sindh Minister for Irrigation and Power Nadir Akmal Khan Leghari stated t

Published 03 Jun, 2005 12:00am

Karachi interbank rates

Karachi interbank rates on Thursday (June 02, 2005).

Published 03 Jun, 2005 12:00am

Rangers deployed to check water theft

Pakistan Rangers (Sindh) have been deployed to start checking of modules in the wake of growers' complaints about non-availability of water at tail ends, mainly due to water theft. Sindh Minister for Irrigation and Power Nadir Akmal Khan Leghari stated th

Published 03 Jun, 2005 12:00am

Russia's grain stocks seen higher

An increase in Russia's 2004 grain output and a continued decline in domestic consumption may result in an increase in 2004/05 (July-June) ending stocks to 11.6 million tonnes from 7 million tonnes last season. The increase is likely to support Russia's g

Published 03 Jun, 2005 12:00am

Rangers deployed to check water theft

Pakistan Rangers (Sindh) have been deployed to start checking of modules in the wake of growers' complaints about non-availability of water at tail ends, mainly due to water theft. Sindh Minister for Irrigation and Power Nadir Akmal Khan Leghari stated th

Published 03 Jun, 2005 12:00am

Singapore bunker fuel prices up

Singapore bunker prices rose on Thursday, tracking higher fuel oil cargo values, while the bunker/cargo premium held steady, dealers said. Prices for 380-centistoke (cst) bunker fuel were pegged at $263-$265 a tonne, up $10 from Wednesday, with the bunker

Published 03 Jun, 2005 12:00am

Steel mills privatisation by December 31

Privatisation of the Pakistan Steel Mills (PSM) will be completed by December 31, this year, while the government has appointed a financial adviser to assess the worth of the organisation. This was stated by the PSM Chairman, Lieutenant General Abdul Qayy

Published 03 Jun, 2005 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 101,745 tonnes of cargo including 89,896 tonnes import and 11,849 tonnes export cargo including 3,917 containers during last 24 hours ending at 0700 hours on Thursday. The cargo comprised of 40,846 tonnes dry cargo including 40,17

Published 03 Jun, 2005 12:00am

Steel mills privatisation by December 31

Privatisation of the Pakistan Steel Mills (PSM) will be completed by December 31, this year, while the government has appointed a financial adviser to assess the worth of the organisation. This was stated by the PSM Chairman, Lieutenant General Abdul Qayy

Published 03 Jun, 2005 12:00am

US Midwest corn and soya bids firmer

US Midwest river spot corn and soyabean basis bids were firmer on Thursday while bids at interior locations were steady to weaker, with little country movement after CBOT futures weakened overnight, dealers said. "They're not going to sell in a down marke

Published 03 Jun, 2005 12:00am

Steel mills privatisation by December 31

Privatisation of the Pakistan Steel Mills (PSM) will be completed by December 31, this year, while the government has appointed a financial adviser to assess the worth of the organisation. This was stated by the PSM Chairman, Lieutenant General Abdul Qayy

Published 03 Jun, 2005 12:00am

Strong prices lift Indian soyameal sales

India's soyameal exports have started picking up after a two-month lull with international prices firming up and good demand from Japan, a top industry official said on Thursday. India, Asia's leading oilmeal exporter, is usually through with most of its

Published 03 Jun, 2005 12:00am

31 killed in Iraq violence

At least 31 people were killed in a wave of violence that swept over northern Iraq on Thursday, as Baghdad vowed that all groups in the fragmented country would take part in the political process. The deadliest blast, in the northern town of Tuz Khurmatu,

Published 03 Jun, 2005 12:00am

Tea prices move both ways

The trading on tea sector moved both ways here on Jodia Bazar on Thursday. The following variations were seen in the Kenyan tea PF-1 grade down Re 1 to Rs 165, B grade down Re 1 to Rs 144, plus C grade up Rs 2 to Rs 134, Bangladesh garden pack original up

Published 03 Jun, 2005 12:00am

31 killed in Iraq violence

At least 31 people were killed in a wave of violence that swept over northern Iraq on Thursday, as Baghdad vowed that all groups in the fragmented country would take part in the political process. The deadliest blast, in the northern town of Tuz Khurmatu,

Published 03 Jun, 2005 12:00am

Gram prices up on tight supply

Grams prices were higher on the grain market on Thursday as supply position was tight from upcountry centres, dealers said. On the gram side, Garda Punjab gained Rs 50 to Rs 1700-1750. Garda Punjab Dal followed the same trend and picked up Rs 75 at Rs 212

Published 03 Jun, 2005 12:00am

President seeks long-term economic ties with US

President Pervez Musharraf has stressed the importance of enhancing trade and investment links between Pakistan and the United States. He was talking to three members US congressional delegation led by Representative Michel Sodrel, which called on him her

Published 03 Jun, 2005 12:00am

FOB Gulf corn and soyabean offers lower

US FOB Gulf corn and soyabean basis offers were steady to lower on Wednesday, weighed by sluggish export demand and higher CBOT futures, traders said. Barge freight bids were lower at St. Louis on the lower Mississippi River, Illinois and Ohio rivers as a

Published 03 Jun, 2005 12:00am

President seeks long-term economic ties with US

President Pervez Musharraf has stressed the importance of enhancing trade and investment links between Pakistan and the United States. He was talking to three members US congressional delegation led by Representative Michel Sodrel, which called on him her

Published 03 Jun, 2005 12:00am

UAE gold sales surge by 15 percent

UAE gold sales surged 15 percent to 1.8 billion dirhams ($490 million) in the first quarter of 2005 on jewellery promotions, new investment products and regional "unease", the World Gold Council (WGC) said. Gold consumption in terms of tonnage rose 10 per

Published 03 Jun, 2005 12:00am

President seeks long-term economic ties with US

President Pervez Musharraf has stressed the importance of enhancing trade and investment links between Pakistan and the United States. He was talking to three members US congressional delegation led by Representative Michel Sodrel, which called on him her

Published 03 Jun, 2005 12:00am

CBOT wheat futures mixed in rangebound trade

Wheat futures at the Chicago Board of Trade closed mixed in rangebound trade on Wednesday, as pressure from beneficial moisture in the US Plains offset spillover strength from the corn market, traders said. Buyers were scarce. Funds bought about 1,400 whe

Published 03 Jun, 2005 12:00am

Woodward tells how FBI man became 'Deep Throat'

A chance encounter with a senior FBI official in 1970 grew into a friendship and as the Watergate scandal unfolded the official became the "Deep Throat" source for the stories that helped bring down President Richard Nixon, reporter Bob Woodward wrote in

Published 03 Jun, 2005 12:00am

Oil cake market rates

Mixed trend was seen on the forward cottonseed oilcake market on Thursday amid thin business, dealers said. The July vaida commenced with sharp gain at Rs 437.90. In the process of trading, it gained 80 paisa to be day's best at Rs 438.70. Later, it shed

Published 03 Jun, 2005 12:00am

India plans to borrow less to control deficit: finance minister

India plans to borrow less than estimated in the year to March 2006 to improve its fiscal deficit performance from last year when the deficit touched its lowest in nearly 8 years, the finance minister said on Thursday. India surprised analysts and the mar

Published 03 Jun, 2005 12:00am

Thin activity seen on cotton market

Mills and spinners remained on the sidelines on the cotton market on Thursday ahead of the Trading Corporation of Pakistan (TCP) announcement of tender result, dealers said. The official spot rate held its overnight level at Rs 2225, without upcountry exp

Published 03 Jun, 2005 12:00am

Caspian oil export hopes alive: Iran

Completion of the $4-billion Baku-Tbilisi-Ceyhan (BTC) pipeline does not rule out a southern export route via Iran for Caspian crude, an Iranian official said on Wednesday. The BTC pipeline which was inaugurated last month, 10 years after it was first tou

Published 03 Jun, 2005 12:00am

Japan seeks to buy wheat for Jordan

The Japanese government has issued a tender for the purchase of 100,000 tonnes of hard wheat as an aid donation to Jordan, European traders said on Thursday. Origin was optional. Bidding deadline was June 23. The wheat was for delivery to Jordan's Ababa p

Published 03 Jun, 2005 12:00am

German finance minister sees China moving yuan in steps

German Deputy Finance Minister Caio Koch-Weser said on Thursday he expected China to revalue the yuan in steps and then repeg it to a basket of currencies. "The first step certainly won't be a float. There will be a step by step strengthening, followed by

Published 03 Jun, 2005 12:00am

Cotton trade watching the forthcoming budget

Like most trade and industrial bodies in Pakistan, cotton traders are mostly focussing their attention on the forthcoming federal budget scheduled to be announced next Monday. Domestic ginners now hardly have 25,000 to 30,000 bales of unsold cotton left w

Published 03 Jun, 2005 12:00am

PSO leads LSE rally

The winning rally stretched to fourth consecutive session on the Lahore Stock Exchange (LSE) on Thursday with a sharp movement in PSO, which pushed the index 5.37 percent up, amid positive news regarding settlement of the regulator-brokers row over the is

Published 03 Jun, 2005 12:00am

Cotton trade watching the forthcoming budget

Like most trade and industrial bodies in Pakistan, cotton traders are mostly focussing their attention on the forthcoming federal budget scheduled to be announced next Monday. Domestic ginners now hardly have 25,000 to 30,000 bales of unsold cotton left w

Published 03 Jun, 2005 12:00am

PSO leads LSE rally

The winning rally stretched to fourth consecutive session on the Lahore Stock Exchange (LSE) on Thursday with a sharp movement in PSO, which pushed the index 5.37 percent up, amid positive news regarding settlement of the regulator-brokers row over the is

Published 03 Jun, 2005 12:00am

New York coffee ends mixed

US arabica coffee futures settled mixed, with market players fixated on spread trading between the nearest monthly contracts amid a dearth of directional signals, traders and analysts said. The bellwether July arabica contract eased 0.30 cent to settle at

Published 03 Jun, 2005 12:00am

67 killed in China's rains

Torrential rains and mountain torrents have left at least 67 people dead and 56 missing in central and western China, state media said Thursday as rescuers rushed to evacuate people and ferry in supplies. Around 100,000 people have been moved from affecte

Published 03 Jun, 2005 12:00am

New York cocoa ends at fresh 11-month low

Heavy speculative selling depressed nearby US cocoa futures prices to their lowest in 11 months on Wednesday, with a strong dollar and bearish technical factors sparking the sell-off, market sources said. "The specs sold quite a lot today," said one floor

Published 03 Jun, 2005 12:00am

ISE equities show positive signs

Equities showed positive signs at the Islamabad Stock Exchange (ISE) where bulls strengthened their positions amid increase in index. ISE Network Index showed an improvement of 269.22 points as the rate-based indicator moved from 11,451.63 to 11,720.85 po

Published 03 Jun, 2005 12:00am

MGE wheat weaker, spreading featured

Minneapolis Grain Exchange spring wheat futures closed lower on Wednesday, with improved US spring wheat ratings keeping a lid on values, traders said. MGE July wheat ended down 1/2 cent at $3.49 per bushel, with deferred months down 1-1/4 to 1-1/2 cents.

Published 03 Jun, 2005 12:00am

ISE equities show positive signs

Equities showed positive signs at the Islamabad Stock Exchange (ISE) where bulls strengthened their positions amid increase in index. ISE Network Index showed an improvement of 269.22 points as the rate-based indicator moved from 11,451.63 to 11,720.85 po

Published 03 Jun, 2005 12:00am

KCBT wheat lower, weighed by beneficial rain

Kansas City Board of Trade wheat futures closed lower on Wednesday in follow-through selling from Tuesday's losses, with pressure stemming from beneficial rain in the central US Plains, traders said. KCBT July wheat closed 3 cents lower at $3.34-1/4 per b

Published 03 Jun, 2005 12:00am

SBP barred from clearing Indian companies for investment

The State Bank of Pakistan (SBP) has been barred from clearing Indian companies for investment in Pakistan without the prior approval of the federal government, reliable sources in finance ministry told Business Recorder here on Thursday. "Indian c

Published 03 Jun, 2005 12:00am

Shanghai copper rises

Shanghai copper futures rose by 3 percent on Thursday as low international stock levels boosted prices in both Shanghai and on the London Metal Exchange. LME copper stocks are at their lowest since December 1987, and although Shanghai exchange warehouse i

Published 03 Jun, 2005 12:00am

SBP barred from clearing Indian companies for investment

The State Bank of Pakistan (SBP) has been barred from clearing Indian companies for investment in Pakistan without the prior approval of the federal government, reliable sources in finance ministry told Business Recorder here on Thursday. "Indian c

Published 03 Jun, 2005 12:00am

New York copper ends at 5-1/2-week high

US copper futures lurched up to 5-1/2-week highs before the close on Wednesday, with funds taking their cue from strong fundamentals, traders said. Copper spent the first part of the session at sharply lower levels as traders sold when the dollar hit 7-1/

Published 03 Jun, 2005 12:00am

SBP barred from clearing Indian companies for investment

The State Bank of Pakistan (SBP) has been barred from clearing Indian companies for investment in Pakistan without the prior approval of the federal government, reliable sources in finance ministry told Business Recorder here on Thursday. "Indian c

Published 03 Jun, 2005 12:00am

Comex gold falls with euro

US gold futures slipped on Wednesday toward four-month lows as the euro further lost value against the dollar, while silver bolted to a 2-1/2-month peak on speculative buying, dealers said. The euro dropped to an eight-month low against the dollar on heig

Published 03 Jun, 2005 12:00am

SBP barred from clearing Indian companies for investment

The State Bank of Pakistan (SBP) has been barred from clearing Indian companies for investment in Pakistan without the prior approval of the federal government, reliable sources in finance ministry told Business Recorder here on Thursday. "Indian c

Published 03 Jun, 2005 12:00am

Tokyo platinum up slightly but off eight-month high

Tokyo platinum futures closed higher on Thursday but backed away from an eight-month peak after short-squeezing ran out of steam as the benchmark contract approached a key technical resistance level. The April platinum contract on the Tokyo Commodity Exch

Published 03 Jun, 2005 12:00am

Wapda told to transfer staff to DISCOS in a month

Water and Power Minister Liaquat Ali Jatoi has directed Wapda to transfer all secondary network manpower to DISCOS within a month to meet the deadline set by the World Bank, it is reliably learnt. "Wapda, which is still resisting corporatisation of the po

Published 03 Jun, 2005 12:00am

Gold up in Asia as euro rebounds; platinum shines

Gold rose in Asia on Thursday after the euro rebounded from an 8-month low against the dollar, while platinum hit a 3-week high on fund buying in Japan before profit-taking erased some of the gains. Spot gold was trading at $416.10/416.60 an ounce, agains

Published 03 Jun, 2005 12:00am

Wapda told to transfer staff to DISCOS in a month

Water and Power Minister Liaquat Ali Jatoi has directed Wapda to transfer all secondary network manpower to DISCOS within a month to meet the deadline set by the World Bank, it is reliably learnt. "Wapda, which is still resisting corporatisation of the po

Published 03 Jun, 2005 12:00am

Malaysian tin hits 4-1/2-month low

Malaysian tin fell 1.8 percent on Thursday, hitting a 4-1/2 month low, as a fresh slide in London metals saw the local market extending a liquidation that began a day. But Japanese buyer's traditionally big users of tin remained supportive, accounting for

Published 03 Jun, 2005 12:00am

Wapda told to transfer staff to DISCOS in a month

Water and Power Minister Liaquat Ali Jatoi has directed Wapda to transfer all secondary network manpower to DISCOS within a month to meet the deadline set by the World Bank, it is reliably learnt. "Wapda, which is still resisting corporatisation of the po

Published 03 Jun, 2005 12:00am

Oil holds above $54 after surge on winter worries

Oil prices inched down from a five-week high on Thursday after surging 5 percent on growing worries that US refiners' focus on meeting summer gasoline demand could worsen a winter supply crunch. Dealers have shrugged off the US dollar's meteoric rise vers

Published 03 Jun, 2005 12:00am

Margin financing goes into force today

The margin financing would act as main tool to safeguard the interest of investors from the volatile conditions of the stock market and easy way out to cover risk management issues. This was the theme of a seminar conducted at the Institute of Bankers in

Published 03 Jun, 2005 12:00am

Thai rice prices seen easing, crop outlook bright

Thai rice export prices, which have fallen in dollar terms over the past week as the baht currency weakened, are likely to dip further with overseas demand weak, traders said on Thursday. Thai 100 percent grade B rice was down $5 at $290 per tonne, free o

Published 03 Jun, 2005 12:00am

Margin financing goes into force today

The margin financing would act as main tool to safeguard the interest of investors from the volatile conditions of the stock market and easy way out to cover risk management issues. This was the theme of a seminar conducted at the Institute of Bankers in

Published 03 Jun, 2005 12:00am

Indonesian oils slip

Edible oil exports by Indonesia are likely to rise marginally this month on healthy demand from India and Europe and a weaker currency. Traders said on Thursday that exports could reach 860,000 tonnes in June, up from 850,000 tonnes in May. Up to 90 perce

Published 03 Jun, 2005 12:00am

Margin financing goes into force today

The margin financing would act as main tool to safeguard the interest of investors from the volatile conditions of the stock market and easy way out to cover risk management issues. This was the theme of a seminar conducted at the Institute of Bankers in

Published 03 Jun, 2005 12:00am

New York sugar ends down, range widens but does not break

Raw sugar futures finished lower in New York after keeping to a strict range for three sessions, but traders said they thought the selling was more consolidation business than indicative of direction. "We've seen producer selling on the upside. We've seen

Published 03 Jun, 2005 12:00am

Margin financing goes into force today

The margin financing would act as main tool to safeguard the interest of investors from the volatile conditions of the stock market and easy way out to cover risk management issues. This was the theme of a seminar conducted at the Institute of Bankers in

Published 03 Jun, 2005 12:00am

Soyabeans hit 11-week top, weather supports

Soyabean futures at the Chicago Board of Trade closed firm on Wednesday, hitting an 11-week high as ongoing weather and crop jitters sparked commodity index funds to buy beans, traders said. The move in soyabeans coincided with speculative buying in other

Published 03 Jun, 2005 12:00am

Four telecom services may be brought into tax net

The Central Board of Revenue (CBR) is examining a proposal to bring four telecommunication services in the tax net. These are voice mail services, voice paging services and services pertaining to data transmission by the Data Network Service Providers (DN

Published 03 Jun, 2005 12:00am

CBOT rice firm

Rough rice futures at the Chicago Board of Trade closed firm on Wednesday, rebounding from the sell-off the day before, traders said. "The market stabilised after the big trade yesterday," said one rice broker. July rice closed 10 cents higher at $7.44 pe

Published 03 Jun, 2005 12:00am

Four telecom services may be brought into tax net

The Central Board of Revenue (CBR) is examining a proposal to bring four telecommunication services in the tax net. These are voice mail services, voice paging services and services pertaining to data transmission by the Data Network Service Providers (DN

Published 03 Jun, 2005 12:00am

Vietnam limits 2005 rice exports to 3.8 million tonnes

Vietnam, the world's second largest rice exporter, has imposed a 3.8 million tonne limit on 2005 rice exports to ensure domestic supplies, but the curb could be lifted later this year, industry officials said on Thursday. A government directive issued on

Published 03 Jun, 2005 12:00am

Four telecom services may be brought into tax net

The Central Board of Revenue (CBR) is examining a proposal to bring four telecommunication services in the tax net. These are voice mail services, voice paging services and services pertaining to data transmission by the Data Network Service Providers (DN

Published 03 Jun, 2005 12:00am

World cotton crop to trail demand in 2005-06: ICAC

World cotton demand will exceed global production in 2004/05 by nearly 2.9 million tonnes, the highest gap in 20 years, an international farm group said on Wednesday. The International Cotton Advisory Committee Secretariat said world output in 2004/05 wou

Published 03 Jun, 2005 12:00am

Four telecom services may be brought into tax net

The Central Board of Revenue (CBR) is examining a proposal to bring four telecommunication services in the tax net. These are voice mail services, voice paging services and services pertaining to data transmission by the Data Network Service Providers (DN

Published 03 Jun, 2005 12:00am

Malaysian palm oil down on soya, demand concerns

Malaysian crude palm oil futures ended down on Thursday, extending their weakness of the previous day, after a drop in rival soyaoil futures on the Chicago Board of Trade. "We're just following the CBOT now, there's no other guide," said a dealer. Soya an

Published 03 Jun, 2005 12:00am

Nuclear capability guarantees Pakistan's security: Prime Minister

Prime Minister Shaukat Aziz has said Pakistan adheres to a doctrine of minimum nuclear deterrence as a guarantee of its security and has a strong command and control system to protect the strategic assets. "Pakistan's nuclear capability should be viewed i

Published 03 Jun, 2005 12:00am

Citigroup buying Federated

Citigroup Inc on Thursday said it agreed to buy $6.6 billion of credit card assets from Federated Department Stores Inc and May Department Stores Co following the merger of the two retailers. Citigroup, the world's largest financial services company, will

Published 03 Jun, 2005 12:00am

'USAID to help spur industrial activities'

US Agency for International Development (USAID) will help develop support institutions in Pakistan to spur industrial and commercial activities. USAID mission director Lisa Chiles held a meeting with Smeda chief executive officer Shahab Khawaja on Thursda

Published 03 Jun, 2005 12:00am

Citigroup buying Federated

Citigroup Inc on Thursday said it agreed to buy $6.6 billion of credit card assets from Federated Department Stores Inc and May Department Stores Co following the merger of the two retailers. Citigroup, the world's largest financial services company, will

Published 03 Jun, 2005 12:00am

EPB to be made trade development authority

The Export Promotion Bureau (EPB) would be converted into a semi-autonomous body, 'Trade Development Authority of Pakistan' within next two months. This was stated by EPB Chairman Tariq Ikram while speaking at his reception, organised by the Rice Exporter

Published 03 Jun, 2005 12:00am

Hedge fund demand for European IPOs falls

Hedge funds are taking less interest in Europe's initial public offerings as they cut back on risk, a factor which is hitting the prospects of some new listings. Bankers and sales staff say that in recent months hedge fund orders for stock in some IPOs ha

Published 03 Jun, 2005 12:00am

Allocation of land for women entrepreneur lauded

The President of Association of Business Professional and Agriculture Women (ABPAW) Shamim Kazmi has appreciated the allocation of 30 acres of land for women entrepreneur at small industrial estate to be established at Northern Bypass. In a press release

Published 03 Jun, 2005 12:00am

Currency	Rate
USD PKR Interbank Selling / Jan 10	278.78
USD PKR Interbank Buying / Jan 10	278.58
USD to Japanese Yen / Jan 10	158.39
USD to Swiss Franc / Jan 10	0.91
Pound Sterling to USD / Jan 10	1.23
Euro to USD / Jan 10	1.03

Stock	Volume
S&P 500 / Jan 9	5,918.25
Nasdaq / Jan 9	19,478.88
Dow Jones / Jan 9	42,635.20
India Sensex / Jan 10	77,645.98
Tokyo Nikkei / Jan 10	39,265.97
Hang Seng / Jan 10	19,069.63
FTSE 100 / Jan 10	8,317.44
Germany DAX 30 / Jan 10	20,333.83

Item	Value
Gold 10 Grams PKR / Jan 9	237,483
Crude Oil USD/Barrel / Jan 10	74.32
Karachi Cotton PKR/37.32 KG / Jan 10	18,785
Gold Spot USD/Ounce / Jan 10	2,674.40
Cotton US¢/pound / Jan 10	68.55
Petrol/Litre / Jan 11	252.66

Stock	Price
Chenab Ltd / Jan 10 Chenab Limited(CHBL)	8.34 ▲ 1.00 (13.62%)
Pak Gen.Ins. / Jan 10 The Pakistan General Insurance Co. Ltd.(PKGI)	8.67 ▲ 0.89 (11.44%)
Tariq Corp.Pref. / Jan 10 Tariq Corporation Limited-Preference Shares(TCORPCPS)	8.76 ▲ 0.88 (11.17%)
Ist.Capital Sec / Jan 10 First Capital Securities Corporation(FCSC)	2.22 ▲ 0.22 (11.00%)
Sakrand Sugar / Jan 10 Sakrand Sugar Mills Limited(SKRS)	12.27 ▲ 1.12 (10.04%)
Dadex Eternit / Jan 10 Dadex Eternit Limited(DADX)	70.40 ▲ 6.40 (10.00%)
D.M. Textile / Jan 10 D.M. Textile Mills Limited(DMTX)	70.54 ▲ 6.41 (10.00%)
Khairpur Sug. / Jan 10 Khairpur Sugar Mills Limited(KPUS)	137.50 ▲ 12.50 (10.00%)
Mehmood Tex / Jan 10 Mehmood Textile Mills Limited(MEHT)	658.91 ▲ 59.90 (10.00%)

Stock	Price
First Capital Equities / Jan 10 First Capital Equities Limited(FCEL)	5.52 ▼ -0.67 (-10.82%)
S.G.Power / Jan 10 S.G. Power Limited(SGPL)	8.47 ▼ -1.00 (-10.56%)
JS Mom. Factor ETF / Jan 10 JS Momentum Factor ETF(JSMFETF)	13.42 ▼ -1.58 (-10.53%)
Liven Pharma / Jan 10 Liven Pharma Limited(LIVEN)	144.61 ▼ -16.07 (-10.00%)
Olympia Mills / Jan 10 Olympia Mills Limited(OML)	32.40 ▼ -3.60 (-10.00%)
Suhail Jute / Jan 10 Suhail Jute Mills Limited(SUHJ)	126.67 ▼ -14.07 (-10.00%)
Ali Asghar / Jan 10 Ali Asghar Textile Mills Limited(AATM)	63.85 ▼ -7.09 (-9.99%)
Blue-Ex Ltd / Jan 10 Blue-Ex Limited (GEM)(GEMBLUEX)	55.40 ▼ -6.15 (-9.99%)
Aisha Steel(ConPS) / Jan 10 Aisha Steel(ConPS)(ASLPS)	11 ▼ -1.20 (-9.84%)

Stock	Volume
WorldCall Telecom / Jan 10 Worldcall Telecom Limited(WTL)	195,296,323 ▼ -0.06
K-Electric Ltd. / Jan 10 K-Electric Limited(KEL)	48,682,503 ▼ -0.01
Cnergyico PK / Jan 10 Cnergyico PK Limited(CNERGY)	35,460,848 ▲ 0.06
Fauji Foods Ltd / Jan 10 Fauji Foods Limited(FFL)	31,825,296 ▲ 0.77
Pace (Pak) Ltd. / Jan 10 Pace (Pakistan) Limited(PACE)	23,629,459 ▲ 0.34
Pak Elektron / Jan 10 Pak Elektron Limited(PAEL)	23,144,464 ▲ 1.09
Lotte Chemical / Jan 10 Lotte Chemical Pakistan Limited(LOTCHEM)	19,944,268 ▼ -0.24
Air Link Com. / Jan 10 Air Link Communication Limited(AIRLINK)	15,918,682 ▼ -5.65
B.O.Punjab / Jan 10 The Bank of Punjab(BOP)	15,645,082 ▲ 0.01

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