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Print - 2005-08-06
Rajab moon may be sighted today

Rajab moon may be sighted today

The Rajab moon may be sighted today (Saturday). Rajab One, 1426 AH, therefore, should fall on Sunday, according to astronomical parameters. The moon crossed the conjunction line at 0805 Pakistan Standard Time (PST) yesterday (Friday). The ti
Published 06 Aug, 2005 12:00am
Hong Kong dollar recovers from early losses

Hong Kong dollar recovers from early losses

The Hong Kong dollar recouped some early losses on Friday afternoon as players hesitated to take big positions ahead of the release of key US data due later in the day. The local currency recovered to 7.7723/29 per US dollar from a morning low of 7.7750,
Published 06 Aug, 2005 12:00am
Dollar falls ahead of US payrolls report

Dollar falls ahead of US payrolls report

The dollar weakened against most major currencies in a seesaw session on Thursday as dealers adjusted positions ahead of Friday's July US employment report. The euro powered to a fresh 2-month intra-session high of $1.2402, according to Reuters data, whil
Published 06 Aug, 2005 12:00am
Yen hit by political woes, market looks to US jobs

Yen hit by political woes, market looks to US jobs

The yen slumped on Friday, hitting a three-month low against the euro as uncertainty grew about the fate of Japan's postal reform bills and their sponsor - Prime Minister Junichiro Koizumi. The dollar meanwhile ticked up from Thursday's two-month low agai
Published 06 Aug, 2005 12:00am
Chinese yuan eases, may firm next week

Chinese yuan eases, may firm next week

China's yuan eased on Friday, retracing after a week of gains, but traders stuck to predictions that the currency would strengthen over coming weeks. The currency closed at 8.1037 per dollar, versus a close of 8.1027 per dollar on Thursday, just shy of a
Published 06 Aug, 2005 12:00am
Indian rupee edges up

Indian rupee edges up

The rupee inched up on Friday on foreign capital inflows and dollar sales by exporters eyeing the euro's recent gains against the US currency. But caution ahead of key US jobs data and wariness of the Reserve Bank of India (RBI), which has been intervenin
Published 06 Aug, 2005 12:00am
Malaysian shares close lower

Malaysian shares close lower

Malaysian share prices closed 0.19 percent lower Friday with sentiment weighed down by the overnight fall on Wall Street and higher oil prices, dealers said. The Kuala Lumpur Composite Index was down 1.82 points to 943.41, off a low of 941.85 and a high o
Published 06 Aug, 2005 12:00am
Seoul shares slide as strong oil hits blue chips

Seoul shares slide as strong oil hits blue chips

Seoul shares shed 2 percent on Friday, their biggest one-day loss in over three months, as concerns about the impact of high oil prices on firms' profits sent Samsung Electronics and other blue chips sharply lower. Exporters were also hit as investors wor
Published 06 Aug, 2005 12:00am
Nikkei extends losses as postal worries grow

Nikkei extends losses as postal worries grow

Tokyo's Nikkei average extended losses on Friday as growing concerns over a vote on bills to privatise Japan's postal system spurred selling in Fujitsu Ltd and other blue chip shares. Market sentiment turned bearish as some key members of the ruling Liber
Published 06 Aug, 2005 12:00am
Hong Kong shares seen falling on weak Wall Street, oil prices

Hong Kong shares seen falling on weak Wall Street, oil prices

Hong Kong stocks are set to fall on Friday after a recent run-up to near four-1/2-year highs, with investors expected to lock in profits after losses on Wall Street and amid persistently high oil prices. The blue chip Hang Seng Index, which ended 0.05 per
Published 06 Aug, 2005 12:00am
Treasuries flat after jobless claims, payrolls key

Treasuries flat after jobless claims, payrolls key

US Treasury debt prices were mostly steady on Thursday after weekly jobless claims came in largely as expected. The market was subdued as traders squared positions and looked ahead to Friday's non-farm payrolls report, easily the single most influential e
Published 06 Aug, 2005 12:00am
Treasuries flat after jobless claims, payrolls key

Treasuries flat after jobless claims, payrolls key

US Treasury debt prices were mostly steady on Thursday after weekly jobless claims came in largely as expected. The market was subdued as traders squared positions and looked ahead to Friday's non-farm payrolls report, easily the single most influential e
Published 06 Aug, 2005 12:00am
Chinese shares rebound as investors gain confidence

Chinese shares rebound as investors gain confidence

China's shares rose 1.4 percent on Friday as investors' confidence strengthened in the wake of the yuan revaluation, supporting blue chips such as top listed lender Merchants Bank Co Ltd. The benchmark Shanghai composite index stood at 1,1117.548 points a
Published 06 Aug, 2005 12:00am
Taiwan stock market closed due to typhoon

Taiwan stock market closed due to typhoon

Taiwan's stock market is closed on Friday due to Typhoon Matsa. The TAIEX share index fell 0.15 percent to 6,446.01 points on Thursday, succumbing to profit taking after setting a 15-month intraday high. Heavyweights semiconductor shares like United Micro
Published 06 Aug, 2005 12:00am
US stocks drop on weak retail sales, higher oil

US stocks drop on weak retail sales, higher oil

US stocks fell on Thursday as major retailers like Target Corp failed to meet July sales expectations and higher oil prices revived concerns that rising energy costs will hurt corporate profits. Retailers' shares generally were down on the day after nearl
Published 06 Aug, 2005 12:00am
Singapore shares close lower for third straight session

Singapore shares close lower for third straight session

Singapore share prices closed lower for the third straight session Friday, dropping one percent as investors locked in profits on the market's recent gains, dealers said. They said sentiment nonetheless remains positive and the market is likely to rise ag
Published 06 Aug, 2005 12:00am
Jakarta shares down 0.95 percent on extended profit-taking

Jakarta shares down 0.95 percent on extended profit-taking

Indonesian share prices closed 0.95 percent lower Friday on continued profit-taking led by market heavyweights Telkom and Astra, dealers said. The Jakarta Stock Exchange composite index lost 11.237 points at 1,174.090. Volume was 1.32 billion shares worth
Published 06 Aug, 2005 12:00am
Philippines shares close flat

Philippines shares close flat

Philippines share prices closed flat on Friday as the market consolidated ahead of the weekend, dealers said. However select stocks led by Banco De Oro Universal Bank, which announced that it was acquiring a substantial stake in rival Equitable PCI Bank,
Published 06 Aug, 2005 12:00am
US jobs growth strong last month

US jobs growth strong last month

US job growth picked up last month as employers added 207,000 workers to their payrolls, a healthy gain that led Wall Street to increase bets on rate hikes from the Federal Reserve. The unemployment rate held steady at the 5 percent reached in June, the l
Published 06 Aug, 2005 12:00am
Airbus backs off tendering for Morocco jets

Airbus backs off tendering for Morocco jets

Airbus said on Friday it would not take part in tendering for the supply to Moroccan airline Royal Air Maroc (RAM) of four long-haul aircraft, leaving the potential $790 million deal to Boeing. The European planemaker said it had "regretfully" decided not
Published 06 Aug, 2005 12:00am
Canada posts weaker job gains

Canada posts weaker job gains

Canada posted weaker-than-expected job gains for July, but it was not enough to sway expectations for a September rate hike by the Bank of Canada. The economy created 5,900 new jobs, the smallest gain since March, and down from 14,200 new jobs in June, St
Published 06 Aug, 2005 12:00am
British industrial output rises

British industrial output rises

British factory output rose a bit more than expected in June while quarterly industrial production was better than first estimated, official data showed on Friday, suggesting weak second quarter growth may get a small lift. The figures, which came a day a
Published 06 Aug, 2005 12:00am
IBM and i-flex get $49 million deal with India's Canara

IBM and i-flex get $49 million deal with India's Canara

India's Canara Bank Ltd said on Friday it had awarded a contract for automation of its branches to IBM and i-flex solutions ltd, in one of the Indian financial industry's largest such deals.
Published 06 Aug, 2005 12:00am
German industrial output spurs growth hopes

German industrial output spurs growth hopes

German industrial output grew strongly in June, reinforcing the view Europe's largest economy has exited a soft patch, and giving the government a fillip as it gears up for a planned September election. Preliminary Economy Ministry data on Friday showed t
Published 06 Aug, 2005 12:00am
World Bank gives Niger emergency food aid

World Bank gives Niger emergency food aid

The World Bank said on Friday it would give Niger $120 million in emergency aid to help the country combat food shortages affecting millions of people. The development bank said Niger would use the emergency funds to buy cereals and grains, and to distrib
Published 06 Aug, 2005 12:00am
EU probes DVDs imports from China and Taiwan

EU probes DVDs imports from China and Taiwan

The European Commission has begun investigating whether recordable DVDs are being dumped on the European market by producers in China, including Hong Kong, and Taiwan. In a latest investigation involving imports from China, the EU executive said in the Co
Published 06 Aug, 2005 12:00am
OECD indicator rises

OECD indicator rises

The economic outlook for the United States, Japan, Germany, France, and Canada has improved, according to an early warning indicator issued on Friday by the OECD. The Paris-based think-tank said a forward-looking composite indicator for the 30-nation OECD
Published 06 Aug, 2005 12:00am
Asian ministers single out graft in poverty fight

Asian ministers single out graft in poverty fight

Government ministers and officials from around 40 Asia-Pacific countries on Friday pledged to fight corruption saying it was the key to reducing poverty in the world's fastest growing region. Two thirds of the world's poor live in the Asia-Pacific, which
Published 06 Aug, 2005 12:00am
Ukraine agrees with IMF on low-deficit 2006 budget

Ukraine agrees with IMF on low-deficit 2006 budget

Ukraine agreed with the International Monetary Fund on Friday to implement tighter fiscal policies next year and draft a low-deficit budget for 2006, officials said on Friday. The liberal government appointed seven months ago by President Viktor Yushchenk
Published 06 Aug, 2005 12:00am
We want new chefs, Google shouts to the world

We want new chefs, Google shouts to the world

Google Inc, a company that had long employed the former cook for one of the world's most famous rock bands to keeps its employees well fed, launched a world-wide search on Thursday for two new chefs. The Internet search company, which proudly boasts of fi
Published 06 Aug, 2005 12:00am
Microsoft hires new chief operating officer

Microsoft hires new chief operating officer

Microsoft Corp appointed Kevin Turner, a top executive at Wal-Mart Stores Inc, as its new Chief Operating Officer, the world's largest software maker said on Thursday. The appointment of Turner, 40, who will be in charge of Microsoft's global sales, marke
Published 06 Aug, 2005 12:00am
Springer signs $3.1 billion deal to buy ProSieben

Springer signs $3.1 billion deal to buy ProSieben

German publisher Axel Springer is taking full control of broadcaster ProSiebenSat.1 Media, it was announced on Friday, in a 2.5 billion-euro ($3.1 billion) deal to rival giant Bertelsmann in its home market. In buying US media mogul Haim Saban's stake, Sp
Published 06 Aug, 2005 12:00am
Former WorldCom executive gets five-month prison

Former WorldCom executive gets five-month prison

Betty Vinson, a former midlevel manager at WorldCom Inc, was sentenced on Friday to five months in prison for participating in the $11 billion fraud at the telecommunications company that triggered its bankruptcy. Vinson also was ordered to serve five mon
Published 06 Aug, 2005 12:00am
Toronto stocks higher as oil prices rise

Toronto stocks higher as oil prices rise

Toronto stocks finished higher on Thursday as oil prices rose and supported a rally among energy issues, but Canadian Imperial Bank of Commerce extended its recent decline and capped the overall gain. The Toronto Stock Exchange S&P/TSX composite index ros
Published 06 Aug, 2005 12:00am
US exporters sell corn to Egypt

US exporters sell corn to Egypt

Private exporters reported the sale of 120,000 tonnes of corn for delivery to Egypt during the 2004/2005 marketing year, the US Agriculture Department said Friday. The marketing year for corn began on September 1.
Published 06 Aug, 2005 12:00am
Michelin posts better first half margin

Michelin posts better first half margin

France's Michelin eked out a higher operating margin in the first half, beating expectations, as a better mix of prices offset a weaker global market and rising costs of materials such as rubber and steel.
Published 06 Aug, 2005 12:00am
Michelin posts better first half margin

Michelin posts better first half margin

France's Michelin eked out a higher operating margin in the first half, beating expectations, as a better mix of prices offset a weaker global market and rising costs of materials such as rubber and steel.
Published 06 Aug, 2005 12:00am
Bombardier gets $223 million Austria train order

Bombardier gets $223 million Austria train order

Bombardier Inc said on Friday it received a $223 million train order from Austrian Federal Railways. The Canadian plane and train maker said its partner in the consortium is Elin EBG Traction, and the overall order for 60 more Bombardier Talent electric m
Published 06 Aug, 2005 12:00am
IBM silicon process speeds communications chips

IBM silicon process speeds communications chips

International Business Machines Corp plans to introduce on Friday an improvement to a microchip manufacturing process that it says will allow for the production of faster silicon devices for cellular handsets and other communications devices.
Published 06 Aug, 2005 12:00am
Barclays first half profit rises

Barclays first half profit rises

British bank Barclays Plc posted first-half profit ahead of forecasts on Friday as revenue growth more than made up for rising bad debt charges, sending its shares up. Pretax profit for the six months ended June 30 increased 9 percent to 2.69 billion poun
Published 06 Aug, 2005 12:00am
Britain to ban two Islamist groups

Britain to ban two Islamist groups

Britain will ban two radical Islamist groups from operating in the country as part of a raft of measures to be introduced following bomb attacks on London last month, Prime Minister Tony Blair said on Friday. He said his government would outlaw Hizb ut-Ta
Published 06 Aug, 2005 12:00am
Barclays first half profit rises

Barclays first half profit rises

British bank Barclays Plc posted first-half profit ahead of forecasts on Friday as revenue growth more than made up for rising bad debt charges, sending its shares up. Pretax profit for the six months ended June 30 increased 9 percent to 2.69 billion poun
Published 06 Aug, 2005 12:00am
Britain to ban two Islamist groups

Britain to ban two Islamist groups

Britain will ban two radical Islamist groups from operating in the country as part of a raft of measures to be introduced following bomb attacks on London last month, Prime Minister Tony Blair said on Friday. He said his government would outlaw Hizb ut-Ta
Published 06 Aug, 2005 12:00am
Two rebel Italian bureaucrats become public heroes

Two rebel Italian bureaucrats become public heroes

For more than three decades Giovanni Castaldi and Claudio Clemente worked as faceless bureaucrats at Italy's central bank. Now the civil servants have emerged as public heroes in a banking scandal that has tainted the central bank governor and, for many,
Published 06 Aug, 2005 12:00am
Kashmiris demand lifting of death sentence

Kashmiris demand lifting of death sentence

Several hundred Muslims took to the streets in occupied Kashmir on Friday to call for the lifting of a death sentence imposed on a man convicted of conspiracy in a deadly 2001 raid on India's parliament. Occupation police fired teargas to disperse demonst
Published 06 Aug, 2005 12:00am
Washington Post quarterly profit falls

Washington Post quarterly profit falls

Washington Post Co on Friday said quarterly profit fell 7 percent, missing analysts' estimates, as higher costs weighed on its newspapers and its television unit suffered from less political advertising.
Published 06 Aug, 2005 12:00am
Quantitative tools for human resources managers

Quantitative tools for human resources managers

Management no more remains a judgmental estimation. Quantitative tools are available to add to veracity of our forecasting plans. HR forecasts play an important linkage with the business plans. Mere opinionated manpower requirements may not hold true in t
Published 06 Aug, 2005 12:00am
Washington Post quarterly profit falls

Washington Post quarterly profit falls

Washington Post Co on Friday said quarterly profit fell 7 percent, missing analysts' estimates, as higher costs weighed on its newspapers and its television unit suffered from less political advertising.
Published 06 Aug, 2005 12:00am
TBI clarification

TBI clarification

A spokesman of Technology and Business International has claimed that TBI is representing National Oilwell USA/Dubai for the last more than 10 years, besides many other companies of oil and gas sector. He said that National Oilwell (NOI) is the world larg
Published 06 Aug, 2005 12:00am
European firms snap up US rivals

European firms snap up US rivals

The volume of acquisitions of US companies by their European rivals has reached a peak not seen since 2001, as chief executives gain confidence and set their sights overseas, bankers said on Friday. According to financial data provider Dealogic, so far th
Published 06 Aug, 2005 12:00am
TBI clarification

TBI clarification

A spokesman of Technology and Business International has claimed that TBI is representing National Oilwell USA/Dubai for the last more than 10 years, besides many other companies of oil and gas sector. He said that National Oilwell (NOI) is the world larg
Published 06 Aug, 2005 12:00am
India less risky than China, says Honda chief

India less risky than China, says Honda chief

Despite unrest at a Honda factory near New Delhi, the chief of Honda Motor says India carries fewer risks than China due to its relative political transparency and lack of anti-Japanese sentiment. Honda Motor president Takeo Fukui in an interview with Jap
Published 06 Aug, 2005 12:00am
TBI clarification

TBI clarification

A spokesman of Technology and Business International has claimed that TBI is representing National Oilwell USA/Dubai for the last more than 10 years, besides many other companies of oil and gas sector. He said that National Oilwell (NOI) is the world larg
Published 06 Aug, 2005 12:00am
Trans-Asia group wins Philippine oil deal

Trans-Asia group wins Philippine oil deal

The Philippines awarded an oil and gas exploration contract on Friday to a group that included Australia's Ottoman Energy Ltd, the local consortium partner said. Trans-Asia Oil and Development Corp told the local stock exchange its group, which includes O
Published 06 Aug, 2005 12:00am
Talks on nuclear CBMs with Delhi begin

Talks on nuclear CBMs with Delhi begin

India and Pakistan on Friday held third round of expert-level talks on nuclear confidence-building measures (CBMs) here with extensive interaction on the issue of pre-notification agreement on missile tests. At the two-day talks began on Friday, the Pakis
Published 06 Aug, 2005 12:00am
Malaysian palm oil ends down as soyaoil weighs

Malaysian palm oil ends down as soyaoil weighs

Malaysian palm oil futures surrendered gains and closed lower on Friday, as weakness in rival soyaoil and the ringgit's recovery from one-week lows weighed on the market. The benchmark third-month palm oil contract on Bursar Malaysia Derivatives, October,
Published 06 Aug, 2005 12:00am
Talks on nuclear CBMs with Delhi begin

Talks on nuclear CBMs with Delhi begin

India and Pakistan on Friday held third round of expert-level talks on nuclear confidence-building measures (CBMs) here with extensive interaction on the issue of pre-notification agreement on missile tests. At the two-day talks began on Friday, the Pakis
Published 06 Aug, 2005 12:00am
US cotton weekly export sales highlights

US cotton weekly export sales highlights

USDA cotton export sales highlights for latest reporting week. Net Upland sales of 36,600 running bales (RB) were 7 percent below the prior week and 81 percent under the previous 4-week average.
Published 06 Aug, 2005 12:00am
Rs 100 million approved for SMEs promotion: minister

Rs 100 million approved for SMEs promotion: minister

An amount of Rs 100 million has been approved for the promotion of new industries--small and medium units. This was announced by the Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen while talking to reporters after
Published 06 Aug, 2005 12:00am
Australian wool indicator falls 1 cent to 720c/kg

Australian wool indicator falls 1 cent to 720c/kg

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) fell one cent to 720 cents a kg clean at its sales on Wednesday. AWEX said its northern indicator (Sydney) fell two cents to 730c/kg, while its western indicator (Fremantle) lost
Published 06 Aug, 2005 12:00am
Rs 100 million approved for SMEs promotion: minister

Rs 100 million approved for SMEs promotion: minister

An amount of Rs 100 million has been approved for the promotion of new industries--small and medium units. This was announced by the Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen while talking to reporters after
Published 06 Aug, 2005 12:00am
CBOT rice settles higher on technical rally

CBOT rice settles higher on technical rally

Rough rice futures at the Chicago Board of Trade rallied to six-week highs on Thursday on a late technical rally, traders said. September rice ended up 19 cents, or 2.8 percent, at $6.88 per hundredweight. November was up 17 cents at $7.07. Volume was est
Published 06 Aug, 2005 12:00am
Rs 100 million approved for SMEs promotion: minister

Rs 100 million approved for SMEs promotion: minister

An amount of Rs 100 million has been approved for the promotion of new industries--small and medium units. This was announced by the Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen while talking to reporters after
Published 06 Aug, 2005 12:00am
Soya ends firm in mild recovery, weather watch

Soya ends firm in mild recovery, weather watch

Soyabean futures at the Chicago Board of Trade closed mostly firm on Thursday in a quiet and mild recovery from Wednesday's slide and on weather jitters, traders said. "There was no clear cut consensus as to weather next week and maybe we'll have clearer
Published 06 Aug, 2005 12:00am
10 killed in Iraq

10 killed in Iraq

Rebels killed 10 people in Iraq on Friday as a crucial meeting of national leaders called to settle constitutional problems was postponed because of an emergency session of the Kurdish autonomous parliament. The two-day delay came against a backdrop of un
Published 06 Aug, 2005 12:00am
New York sugar ends at fresh peak

New York sugar ends at fresh peak

Raw sugar prices closed at another 4-1/2 year high on Thursday as the sweetener gyrated wildly from bout of profit-taking and fund buying that vaulted the market to fresh contract highs, analysts said. The New York Board of Trade's key October raw sugar c
Published 06 Aug, 2005 12:00am
10 killed in Iraq

10 killed in Iraq

Rebels killed 10 people in Iraq on Friday as a crucial meeting of national leaders called to settle constitutional problems was postponed because of an emergency session of the Kurdish autonomous parliament. The two-day delay came against a backdrop of un
Published 06 Aug, 2005 12:00am
Indian sugar futures fall

Indian sugar futures fall

Indian sugar futures fell on Friday because of lack of demand during the monsoon season, but wheat prices firmed up after a government statement that the country had no plans to import grains, brokers said. September sugar at the National Commodity and De
Published 06 Aug, 2005 12:00am
Badr field to start gas production by November

Badr field to start gas production by November

The Petroleum Exploration (Pvt) Limited (PEL) Chief Executive and Chairman Zaheeruddin held a meeting with Petroleum and Natural Resources Minister Amanullah Khan Jadoon here on Friday and informed him that Badr field-one will start gas production by Nove
Published 06 Aug, 2005 12:00am
Oil within $1 of record-peak amid US refinery snags

Oil within $1 of record-peak amid US refinery snags

Oil climbed on Friday to within $1 of its all-time high as more US refiners suffered unexpected outages that would stymie efforts to meet strong demand growth in the world's biggest consumer. US light sweet crude was up 22 cents to $61.60 a barrel in Asia
Published 06 Aug, 2005 12:00am
Badr field to start gas production by November

Badr field to start gas production by November

The Petroleum Exploration (Pvt) Limited (PEL) Chief Executive and Chairman Zaheeruddin held a meeting with Petroleum and Natural Resources Minister Amanullah Khan Jadoon here on Friday and informed him that Badr field-one will start gas production by Nove
Published 06 Aug, 2005 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin was down for a second straight day as players took more profits from a rally in the week after a fresh dip in the London price. But the metal remained above $7,000 a tonne, in line with bullish market forecasts envisioning short supply and s
Published 06 Aug, 2005 12:00am
Badr field to start gas production by November

Badr field to start gas production by November

The Petroleum Exploration (Pvt) Limited (PEL) Chief Executive and Chairman Zaheeruddin held a meeting with Petroleum and Natural Resources Minister Amanullah Khan Jadoon here on Friday and informed him that Badr field-one will start gas production by Nove
Published 06 Aug, 2005 12:00am
Asian gold dips slightly ahead of US job data

Asian gold dips slightly ahead of US job data

Gold dipped slightly but stayed close to late New York levels in Asia on Friday ahead of US jobs data and a threatened strike in South Africa, the world's largest producer of the precious metal. Traders said market sentiment remained firm, however, and th
Published 06 Aug, 2005 12:00am
NWFP moves to rehabilitate Hisbah Bill

NWFP moves to rehabilitate Hisbah Bill

Following advisory recommendations by Supreme Court, the NWFP government has constituted a committee within its Law Department to re-examine the controversial Hisbah Bill. The NWFP Law Minister, Zafar Azam Khan, asked the Law Secretary to immediately have
Published 06 Aug, 2005 12:00am
New York gold futures rise; other precious metals fall

New York gold futures rise; other precious metals fall

US gold futures rose on Thursday, mainly on continued dollar weakness against the euro and some institutional buying, traders said. Other precious metals lost ground, including platinum, which fell more than 1 percent, wiping out gains from the day before
Published 06 Aug, 2005 12:00am
NWFP moves to rehabilitate Hisbah Bill

NWFP moves to rehabilitate Hisbah Bill

Following advisory recommendations by Supreme Court, the NWFP government has constituted a committee within its Law Department to re-examine the controversial Hisbah Bill. The NWFP Law Minister, Zafar Azam Khan, asked the Law Secretary to immediately have
Published 06 Aug, 2005 12:00am
Tokyo gold extends gains, platinum ends mixed

Tokyo gold extends gains, platinum ends mixed

Tokyo gold futures extended gains on Friday, marking a 13-and-a-half-year high as a strong New York close and weaker yen spurred buying, while platinum closed slightly mixed. The benchmark June gold contract on the Tokyo Commodity Exchange finished up 16
Published 06 Aug, 2005 12:00am
Pakistan and China agree on 52 items for zero duty

Pakistan and China agree on 52 items for zero duty

Pakistan and China finalised two separate lists of 52 items on which duty would be reduced to zero rate by each side from January 1, 2006. An agreement to this effect was arrived at a meeting, held here between the officials of the Export Promotion Bureau
Published 06 Aug, 2005 12:00am
New York copper ends off, short-tremors sell stock hike

New York copper ends off, short-tremors sell stock hike

New York copper futures finished on Thursday with moderate losses after a large injection into London Metal Exchange warehouses scared some short-term players into selling at record levels, traders said.
Published 06 Aug, 2005 12:00am
Pakistan and China agree on 52 items for zero duty

Pakistan and China agree on 52 items for zero duty

Pakistan and China finalised two separate lists of 52 items on which duty would be reduced to zero rate by each side from January 1, 2006. An agreement to this effect was arrived at a meeting, held here between the officials of the Export Promotion Bureau
Published 06 Aug, 2005 12:00am
MGE wheat higher on exports, local buying

MGE wheat higher on exports, local buying

Spring wheat futures on the Minneapolis Grain Exchange closed narrowly higher on Thursday on supportive export news and local buying, traders said. Firm cash markets and a lack of harvest-related hedge selling added strength.
Published 06 Aug, 2005 12:00am
Pakistan and China agree on 52 items for zero duty

Pakistan and China agree on 52 items for zero duty

Pakistan and China finalised two separate lists of 52 items on which duty would be reduced to zero rate by each side from January 1, 2006. An agreement to this effect was arrived at a meeting, held here between the officials of the Export Promotion Bureau
Published 06 Aug, 2005 12:00am
New York coffee higher after choppy session

New York coffee higher after choppy session

New York Board of Trade nearby coffee futures ended up 0.5 percent on Thursday as market players reined in gains led by strong technical signals, traders said. The New York Board of Trade 's (NYBOT) front-month September arabica contract rose 0.50 cent to
Published 06 Aug, 2005 12:00am
Prime Minister orders restructuring of EPB

Prime Minister orders restructuring of EPB

Prime Minister Shaukat Aziz has directed restructuring of the Export Promotion Bureau (EPB) as a marketing organisation to promote the Pakistani brands. The premier after a presentation by the Ministry of Commerce for restructuring of EPB at the PM House
Published 06 Aug, 2005 12:00am
New York cocoa futures fall on speculative selling

New York cocoa futures fall on speculative selling

New York Board of Trade cocoa futures weakened on Thursday, depressed again by speculative selling the day after it scaled a new five-week high, market sources said. NYBOT's cocoa contract for September delivery fell $12, or 0.8 percent, to settle at $1,4
Published 06 Aug, 2005 12:00am
Prime Minister orders restructuring of EPB

Prime Minister orders restructuring of EPB

Prime Minister Shaukat Aziz has directed restructuring of the Export Promotion Bureau (EPB) as a marketing organisation to promote the Pakistani brands. The premier after a presentation by the Ministry of Commerce for restructuring of EPB at the PM House
Published 06 Aug, 2005 12:00am
US wheat weekly export sales highlights

US wheat weekly export sales highlights

USDA wheat export sales highlights in latest reporting week. Net sales of 862,300 metric tons (MT) were 65 percent above the previous week and 68 percent over the prior 4-week average.
Published 06 Aug, 2005 12:00am
Prime Minister orders restructuring of EPB

Prime Minister orders restructuring of EPB

Prime Minister Shaukat Aziz has directed restructuring of the Export Promotion Bureau (EPB) as a marketing organisation to promote the Pakistani brands. The premier after a presentation by the Ministry of Commerce for restructuring of EPB at the PM House
Published 06 Aug, 2005 12:00am
Chemicals move both ways

Chemicals move both ways

The trading on chemicals side moved both ways here on Jodia Bazar on Friday. The following variations were seen in sodium sulphate down 25 paisa to Rs 9, formic acid Pak down Re 1 to Rs 41, oxalic acid China up Rs 5 to Rs 44, petroleum jelly white Irani d
Published 06 Aug, 2005 12:00am
SECP relaxes companies disclosure requirements

SECP relaxes companies disclosure requirements

The Securities and Exchange Commission of Pakistan (SECP) has relaxed the mandatory requirement of disclosure of the capacity of an industrial unit, its actual production and the reasons for shortfall in the annual accounts of listed companies and their s
Published 06 Aug, 2005 12:00am
Cotton spot rate down by Rs 25 amid falling prices

Cotton spot rate down by Rs 25 amid falling prices

Declining trend was seen on the cotton market on Friday as main buyers kept on the sidelines, dealers said. The Karachi Cotton Association (KCA) official spot rate shed Rs 25 at Rs 2325, without upcountry expenses. Market sources said that the news of arr
Published 06 Aug, 2005 12:00am
SECP relaxes companies disclosure requirements

SECP relaxes companies disclosure requirements

The Securities and Exchange Commission of Pakistan (SECP) has relaxed the mandatory requirement of disclosure of the capacity of an industrial unit, its actual production and the reasons for shortfall in the annual accounts of listed companies and their s
Published 06 Aug, 2005 12:00am
CBOT corn futures weak on follow-through selling

CBOT corn futures weak on follow-through selling

Follow-through selling from a sharp price drop on Wednesday and some outlooks for showers next week in the US Midwest pressed corn futures on the Chicago Board of Trade to a lower close Thursday, traders said.
Published 06 Aug, 2005 12:00am
SECP relaxes companies disclosure requirements

SECP relaxes companies disclosure requirements

The Securities and Exchange Commission of Pakistan (SECP) has relaxed the mandatory requirement of disclosure of the capacity of an industrial unit, its actual production and the reasons for shortfall in the annual accounts of listed companies and their s
Published 06 Aug, 2005 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

US hard red winter wheat basis bids were steady to firmer on Friday, with the Gulf market showing gains amid an otherwise quiet market. Gulf track bids were 5 cents higher, leading to increased trade in trains carrying specific protein levels, merchants s
Published 06 Aug, 2005 12:00am
Rajab moon may be sighted today

Rajab moon may be sighted today

The Rajab moon may be sighted today (Saturday). Rajab One, 1426 AH, therefore, should fall on Sunday, according to astronomical parameters. The moon crossed the conjunction line at 0805 Pakistan Standard Time (PST) yesterday (Friday). The ti
Published 06 Aug, 2005 12:00am
Wheat futures lower on weak SRW sales, slow trade

Wheat futures lower on weak SRW sales, slow trade

Wheat futures on the Chicago Board of Trade closed lower on Thursday on weak export demand for US soft red winter wheat and on spillover weakness from corn, traders said. Trade was choppy early in the session and remained light throughout the day.
Published 06 Aug, 2005 12:00am
Plan for gems and jewellery sector development chalked out

Plan for gems and jewellery sector development chalked out

The Gems and Jewellery Strategy Working Group (SWOG) has chalked out a plan for the development of the sector in Pakistan. This is an USAid-funded project managed by J. E. Austins, USA in partnership with Small and Medium Enterprise Development Authority
Published 06 Aug, 2005 12:00am
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