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Nov 27, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-08-13
HRW wheat bids mostly unchanged

HRW wheat bids mostly unchanged

US hard red winter wheat basis bids at interior points were mostly unchanged Friday, while bids at export points rose in reaction to slow movement of grain to the Gulf, cash dealers said.
Published 13 Aug, 2005 12:00am
Plastic mouldings higher

Plastic mouldings higher

The trading on plastic mouldings moved upward on Jodia Bazar on Friday. The following variations were seen in the HDPE film Saudia 952 up Rs 6.75 to Rs 37, Mobil up Rs 1.50 to Rs 37, TR144 up Rs 1.25 to Rs 36.50, HDPE injection Sabic 200056 up Rs 1.75 to
Published 13 Aug, 2005 12:00am
Mixed price pattern on grain markets

Mixed price pattern on grain markets

Several variations were seen on the grain markets on Friday as most of the buyers were eager to purchase the commodities on falling prices, dealers said. On the gram sector, garda Punjab moved up Rs 25 to Rs 1900-1950. Garda Punjab dal followed suit and p
Published 13 Aug, 2005 12:00am
Comex copper ends up on healthy data, weak dollar

Comex copper ends up on healthy data, weak dollar

New York copper futures finished with strong gains on Thursday on indications of bullish demand for the red metal portrayed by a string of robust US economic reports, traders said.
Published 13 Aug, 2005 12:00am
Tokyo gold chases New York rally, defies yen rise

Tokyo gold chases New York rally, defies yen rise

Tokyo gold futures chased New York's rally on Friday, with the benchmark contract nearing a 13-year high despite a stronger yen, as record-high oil prices and geopolitical risks renewed investor interest in hard assets.
Published 13 Aug, 2005 12:00am
Gold near eight-month high in Asia, $450 in sight

Gold near eight-month high in Asia, $450 in sight

Gold held near its highest level in eight months in Asia on Friday and was expected to breach key resistance at $450 soon, helped by dollar weakness and record-high crude oil prices.
Published 13 Aug, 2005 12:00am
CBOT rice closes lower ahead of USDA report

CBOT rice closes lower ahead of USDA report

Rough rice futures at the Chicago Board of Trade closed lower on Thursday on follow-through weakness from the day before, traders said. Most of the session featured pre-report positioning ahead of the government's monthly crop reports to be released on Fr
Published 13 Aug, 2005 12:00am
Oil extends record-breaking streak above $66

Oil extends record-breaking streak above $66

Oil prices climbed above $66 a barrel on Friday, setting a fifth record high in as many days as robust US economic growth keeps refiners straining to meet demand and friction over Iran's nuclear programme jangles nerves.
Published 13 Aug, 2005 12:00am
MGE wheat futures up

MGE wheat futures up

Spring wheat futures at the Minneapolis Grain Exchange ended firm on Thursday but KCBT/MGE spreading amid an apparent vomitoxin issue with this year's US spring wheat crop limited gains, traders said.
Published 13 Aug, 2005 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin rose 1.6 percent on Friday, extending a rebound from the recent selloff, helped by further gains on the London Metal Exchange. Spot tin on the Kuala Lumpur Tin Market (KLTM) ended up $110 at $7,125 a tonne.
Published 13 Aug, 2005 12:00am
New York sugar closes firmer on trade, local buying

New York sugar closes firmer on trade, local buying

Raw sugar prices closed higher on Thursday on trade and broker buying, as speculative liquidation was light, but trade was thin after London white sugar trading stopped mid-way in the session, traders said. Euronext.liffe halted trade on commodities due t
Published 13 Aug, 2005 12:00am
Soya slides on prospects of US soya improving

Soya slides on prospects of US soya improving

Soyabean futures at the Chicago Board of Trade closed lower on Thursday, reacting to prospects that US soyabeans benefited from recent Midwest rains and hopes that crops will benefit more by additional rains, traders said.
Published 13 Aug, 2005 12:00am
Mexico sugar farmers win fight over price supports

Mexico sugar farmers win fight over price supports

Mexico's government, faced with protests by thousands of angry sugar farmers that shut down the agriculture ministry this week, has dropped its plan to end sugar price guarantees.
Published 13 Aug, 2005 12:00am
EU sugar resale tenders in three countries

EU sugar resale tenders in three countries

The European Union will open tenders for sugar held in intervention storage in Belgium, France and Sweden for resale into EU markets, its Official Journal said on Thursday.
Published 13 Aug, 2005 12:00am
Malaysian palm oil recoups losses

Malaysian palm oil recoups losses

Malaysia's palm oil futures recouped losses to end higher on Friday as dealers covered positions due to persistent worries about supply. Dealers said record high crude oil prices, which might trigger more purchases of bifocals, and worsening haze from Ind
Published 13 Aug, 2005 12:00am
Kremlin-friendly oil firm eyes Russia TV stake

Kremlin-friendly oil firm eyes Russia TV stake

Kremlin-friendly oil company Surgutneftegaz is bidding for a 35 percent stake in REN TV, one of Russia's last independent television stations, a company spokeswoman told Interfax news agency on Friday. Raisa Khodchenko, a spokeswoman for Russia's fourth-l
Published 13 Aug, 2005 12:00am
India's Infosys looks to China to diversify

India's Infosys looks to China to diversify

Infosys Technologies Ltd, India's second biggest software exporter, has begun a rapid build-up in China, developing a market that could someday account for up to 10 percent of its global revenue. The company entered China in its last fiscal year, generati
Published 13 Aug, 2005 12:00am
Australia backs Manila land reform to aid mining

Australia backs Manila land reform to aid mining

Australia pledged A$34 million ($25.5 million) on Friday to help the Philippines improve its unwieldy land administration system and provide greater incentive for potential investors in key areas like mining.
Published 13 Aug, 2005 12:00am
Microchip sues ZiLOG

Microchip sues ZiLOG

Microchip Technology Inc on Friday said it filed a patent infringement lawsuit against ZiLOG Inc, alleging that a line of ZiLOG micro-controller chips infringes three Microchip patents.
Published 13 Aug, 2005 12:00am
American Airlines, JetBlue raise fares

American Airlines, JetBlue raise fares

American Airlines and JetBlue Airways Corp raised ticket prices in various markets late on Thursday, seeking to recoup some of their increased costs from record fuel prices, the airlines said.
Published 13 Aug, 2005 12:00am
Allianz's Dresdner shines

Allianz's Dresdner shines

German insurer Allianz posted better-than-expected second-quarter profit at its troubled banking arm on Friday, as it gave details of the strong group performance it announced earlier this week. Germany's biggest insurer said its banking arm - almost enti
Published 13 Aug, 2005 12:00am
Allianz's Dresdner shines

Allianz's Dresdner shines

German insurer Allianz posted better-than-expected second-quarter profit at its troubled banking arm on Friday, as it gave details of the strong group performance it announced earlier this week. Germany's biggest insurer said its banking arm - almost enti
Published 13 Aug, 2005 12:00am
Banca Popolare Italiana may seek ally for Antonveneta

Banca Popolare Italiana may seek ally for Antonveneta

Banca Popolare Italiana may try to find a foreign ally to help revive its troubled take-over plan for Banca Antonveneta or resort to selling out, a source close to the situation said on Friday.
Published 13 Aug, 2005 12:00am
Hungary's OTP maintains forecast

Hungary's OTP maintains forecast

Hungary's biggest bank OTP reported a 21 percent rise in second-quarter net profit on Friday, just short of market forecasts, but said it was broadly on track to meet it full-year targets. Net profit rose to 38.06 billion ($194 million) forints in the qua
Published 13 Aug, 2005 12:00am
Hungary's OTP maintains forecast

Hungary's OTP maintains forecast

Hungary's biggest bank OTP reported a 21 percent rise in second-quarter net profit on Friday, just short of market forecasts, but said it was broadly on track to meet it full-year targets. Net profit rose to 38.06 billion ($194 million) forints in the qua
Published 13 Aug, 2005 12:00am
India's domestic car sales drop in July

India's domestic car sales drop in July

India's passenger car sales dropped more than 10 percent in July, down for a second straight month, as demand suffered because of heavy floods in two big markets, rising costs due to stricter emission norms and higher taxes.
Published 13 Aug, 2005 12:00am
Mitsubishi Tokyo and UFJ to delay bank merger

Mitsubishi Tokyo and UFJ to delay bank merger

Mitsubishi Tokyo Financial Group and UFJ Holdings, due to merge on October 1, said on Friday they will delay combining their core commercial banks until January to run extra tests on their computer systems.
Published 13 Aug, 2005 12:00am
Toronto stocks close higher

Toronto stocks close higher

Toronto stocks closed higher on Thursday as a surge in the price of bullion hoisted the gold-mining index, but energy shares ended flat despite oil prices touching a record high. The Toronto Stock Exchange S&P/TSX composite index rose 28.45 points, or 0.2
Published 13 Aug, 2005 12:00am
Singapore shares close lower on profit-taking

Singapore shares close lower on profit-taking

Singapore shares prices closed 0.12 percent down Friday on profit taking ahead of the weekend, dealers said. The Straits Times Index fell 2.77 points at 2,303.2. Volume traded totalled 820 million shares worth 997 million Singapore dollars (604 million US
Published 13 Aug, 2005 12:00am
Jakarta shares lower

Jakarta shares lower

Indonesian share prices closed 1.20 percent lower Friday on persistent concerns that another fuel price increase this year would drive up inflation and interest rates, dealers said. They said blue chip firms Telkom and Astra International were leading the
Published 13 Aug, 2005 12:00am
Hong Kong stocks flat, Li, Fung dips but commodity shares rise

Hong Kong stocks flat, Li, Fung dips but commodity shares rise

Hong Kong blue chip stocks finished flat on Friday as investors paused for breath after a recent earnings-inspired rally. But China commodity plays such as gold Miner Zijin Mining Group Ltd and aluminium producer Chalco gained ground on a weak US dollar.
Published 13 Aug, 2005 12:00am
US stocks rally as $66 oil lifts Exxon, Dell drops

US stocks rally as $66 oil lifts Exxon, Dell drops

US stocks climbed on Thursday as crude oil hit $66 a barrel, reaching a record high for the fourth day in a row and boosting energy companies like Exxon Mobil Corp, while wireless technology company Qualcomm Inc rose on an acquisition.
Published 13 Aug, 2005 12:00am
Taiwan stocks finish flat

Taiwan stocks finish flat

Taiwan stocks ended flat on Friday as Dell Inc's weak revenue forecast weighed down shares of its Taiwan suppliers like Quanta Computer Inc, while investors switched funds to small-cap cyclical shares.
Published 13 Aug, 2005 12:00am
Philippines shares move up

Philippines shares move up

Philippines share prices closed 0.71 percent higher Friday on strong interest in select blue chips, dealers said. They said investors were taking positions ahead of the Supreme Court's expected ruling later this month on the legality of a new value-added
Published 13 Aug, 2005 12:00am
Treasuries move higher

Treasuries move higher

US Treasury debt prices rose on Thursday on softer-than-expected July retail sales, which surprised a bond market that had grown accustomed to a steady drumbeat of strong economic data in recent weeks.
Published 13 Aug, 2005 12:00am
Treasuries move higher

Treasuries move higher

US Treasury debt prices rose on Thursday on softer-than-expected July retail sales, which surprised a bond market that had grown accustomed to a steady drumbeat of strong economic data in recent weeks.
Published 13 Aug, 2005 12:00am
Chinese shares decline

Chinese shares decline

Chinese share prices closed 1.36 percent lower Friday on concerns over record high oil prices and profit-taking in petrochemicals and banks, dealers said. They said the profit taking was well contained and was to be expected given the market's advance sin
Published 13 Aug, 2005 12:00am
Seoul shares at best finish in decade

Seoul shares at best finish in decade

Seoul shares posted their highest close in more than a decade on Friday, as optimism about a broader economic recovery and prospects for better earnings in the second half lifted blue chips such as Samsung Electronics.
Published 13 Aug, 2005 12:00am
Nikkei ends flat after GDP, off four-year high

Nikkei ends flat after GDP, off four-year high

Tokyo's Nikkei average ended down 0.01 percent on Friday, a touch off the previous day's four-year high as weaker-than-expected GDP and a higher yen prompted selling in JFE Holdings and other recent gainers.
Published 13 Aug, 2005 12:00am
Malaysian shares close higher

Malaysian shares close higher

Malaysian share prices closed 0.11 percent higher Friday but trade was sluggish as investors stayed on the sidelines amid concerns about rising oil prices and Malaysia's haze crisis, dealers said. The Kuala Lumpur Composite Index was up 0.99 points to 937
Published 13 Aug, 2005 12:00am
Swiss franc firms versus dollar

Swiss franc firms versus dollar

The Swiss franc firmed a touch against the dollar on Friday, as worries about a possible sharp deterioration in the US trade deficit weighed on the greenback.
Published 13 Aug, 2005 12:00am
Hong Kong dollar inches higher

Hong Kong dollar inches higher

The Hong Kong dollar edged higher on Friday, bolstered by a broad-based decline for the US dollar and as the Chinese currency closed at a fresh post-revaluation high.
Published 13 Aug, 2005 12:00am
Yuan scales new post-revalue peak

Yuan scales new post-revalue peak

The yuan closed at a new post-revaluation high against the dollar on Friday, tracking currencies such as the yen in a strengthening trend, despite uncertainty over the Chinese currency's direction next week.
Published 13 Aug, 2005 12:00am
Dollar mired near lows ahead of US trade data

Dollar mired near lows ahead of US trade data

The dollar was stuck near a six-week low against the yen and a two-and-a-half month nadir versus the euro on Friday with investors worried about a possible sharp deterioration in the US trade deficit.
Published 13 Aug, 2005 12:00am
Dollar sags with US trade gap concerns revived

Dollar sags with US trade gap concerns revived

The dollar sank broadly on Thursday, falling to fresh 10-week lows against the euro and 6-week lows against the yen as investors once again began to consider the effect of the massive US trade deficit.
Published 13 Aug, 2005 12:00am
Most Asian currencies steady on record oil prices

Most Asian currencies steady on record oil prices

The Indonesian rupiah fell to a two-week low on Friday and traders said state banks were seen buying US dollars on behalf of local companies that were hedging against the increasing cost of imported fuel.
Published 13 Aug, 2005 12:00am
Two Indian cops die in Maoist raid

Two Indian cops die in Maoist raid

Maoist guerrillas dynamited a police station, killing two officers in eastern India Friday, police said, a day after New Delhi ruled out direct talks with ultra-leftist militant outfits. In a pre-dawn raid, some 50 guerrillas stormed the police station in
Published 13 Aug, 2005 12:00am
Turkish Prime Minister promises Kurds more democracy

Turkish Prime Minister promises Kurds more democracy

Prime Minister Recep Tayyip Erdogan pledged Friday that the Kurdish conflict in Turkey would be resolved with "more democracy" despite a marked increase in violence by armed Kurdish rebels whom Ankara considers "terrorists."
Published 13 Aug, 2005 12:00am
Bush gets first look at anti-war protest near ranch

Bush gets first look at anti-war protest near ranch

US President George W. Bush got his first look at an anti-war vigil near his ranch on Friday as his motorcade took him by the protest site lined with small white crosses representing fallen American soldiers in Iraq.
Published 13 Aug, 2005 12:00am
Iraqi leaders work against constitution deadline

Iraqi leaders work against constitution deadline

With a deadline three days away, Iraqi leaders attempted on Friday to resolve disputes over the content of a permanent constitution they hope could end violence in the fractured country.
Published 13 Aug, 2005 12:00am
Britain bars Bakri in anti-terrorism push

Britain bars Bakri in anti-terrorism push

Britain barred hard-line Muslim cleric Omar Bakri Mohammed on Friday from returning to the country, part of a government crackdown on Islamic preachers it fears inspire bombers such as those who attacked London in July.
Published 13 Aug, 2005 12:00am
Silva apologises for bribery scandal

Silva apologises for bribery scandal

Brazilian President Luiz Inacio Lula da Silva apologised in a nation-wide address on Friday for a bribery scandal that is threatening his government but denied knowledge of the payoffs. "The government and the (ruling) Workers' Party have to ask for forgi
Published 13 Aug, 2005 12:00am
US to lower transit terrorism alert level

US to lower transit terrorism alert level

The US Department of Homeland Security is going to lower its terrorism alert level to "elevated" from "high" for buses, subways and trains on Friday - a month after raising it in response to bombings in London, two US government officials said.
Published 13 Aug, 2005 12:00am
US bucked on issue of civilian nuclear rights

US bucked on issue of civilian nuclear rights

Backed by the world in its drive to curb the spread of nuclear arms, the United States is facing growing resistance to its bid to deny some states the right to peaceful atomic energy. The question has become central in recent days to Washington's efforts
Published 13 Aug, 2005 12:00am
Kursk submarine sinking: Russia marks fifth anniversary

Kursk submarine sinking: Russia marks fifth anniversary

Ceremonies took place across Russia Friday marking the fifth anniversary of the sinking of the nuclear submarine Kursk with the loss of all 118 aboard, a traumatising accident that shattered the nation's trust in its leaders.
Published 13 Aug, 2005 12:00am
Hamas refuses to disarm after Gaza pullout

Hamas refuses to disarm after Gaza pullout

Hamas will not surrender its weapons to the Palestinian Authority in the Gaza Strip after Israel's pullout from the territory, one of the Islamist movement's top leaders said Friday. "This army will continue to defend our homeland as long as one inch of P
Published 13 Aug, 2005 12:00am
Polar bear makes huge 74 km swim

Polar bear makes huge 74 km swim

Scientists have tracked a tagged polar bear swimming at least 74 km in just one day - and maybe up to 100 km - providing the first conclusive proof the bears can cover such giant distances in the water.
Published 13 Aug, 2005 12:00am
Malaysia takes breather as haze crisis eases

Malaysia takes breather as haze crisis eases

Malaysia got a short breathing space on Friday from its worst air pollution crisis in eight years as changing winds scattered acrid smoke from forest fires burning in neighbouring Indonesia.
Published 13 Aug, 2005 12:00am
Sharon hints at more settlement removals

Sharon hints at more settlement removals

Prime Minister Ariel Sharon raised the prospect on Friday that Israel could eventually uproot more settlements on occupied land after it evacuates its enclaves in Gaza and a pocket of the West Bank in coming weeks.
Published 13 Aug, 2005 12:00am
Sri Lankan rupee dips

Sri Lankan rupee dips

The Sri Lanka rupee dipped on Friday on high bank demand for dollars on behalf of importers looking to settle trade bills, dealers said. The rupee closed at 100.80 against the greenback after touching 100.85 in intraday trade The local currency closed at
Published 13 Aug, 2005 12:00am
Indian rupee rises

Indian rupee rises

The rupee recovered from the previous day's one-month low to end firm on Friday as the dollar fell against major overseas currencies. But the gains were limited by a cash dollar shortage caused by the central bank's dollar-buying intervention, record high
Published 13 Aug, 2005 12:00am
Sterling hits six-week high

Sterling hits six-week high

Sterling hit a six-week high against the dollar and one-month peak versus the euro on Friday but later reversed gains as the US currency rose sharply in afternoon trade.
Published 13 Aug, 2005 12:00am
Dollar under pressure in London

Dollar under pressure in London

The dollar fell to its lowest in more than two months against the euro and Swiss franc on Friday as jitters ahead of US trade data increased selling pressure after Thursday's weaker-than-expected retail sales report.
Published 13 Aug, 2005 12:00am
Bonds: British Airways CDS down

Bonds: British Airways CDS down

The credit protection cost of British Airways rose on Friday as wildcat strikes forced the UK flag carrier to cancel Heathrow flights for a second day, grounding some 70,000 passengers during the peak travel month.
Published 13 Aug, 2005 12:00am
Bonds: British Airways CDS down

Bonds: British Airways CDS down

The credit protection cost of British Airways rose on Friday as wildcat strikes forced the UK flag carrier to cancel Heathrow flights for a second day, grounding some 70,000 passengers during the peak travel month.
Published 13 Aug, 2005 12:00am
Indian shares fall

Indian shares fall

Indian shares fell on Friday as oil prices rose further and foreign funds turned net sellers after two months of buying. The BSE index fell 0.63 percent to 7,767.49 points after an early rise to an all-time peak of 7,861.26, topping the previous record of
Published 13 Aug, 2005 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US stocks fell on Friday as technology bellwether Dell Inc slumped on a lower sales outlook and crude oil topped $67 a barrel, worrying investors that it may slow the pace of earnings growth. Shares of Dell dropped 7.8 percent to $36.50, its biggest one-d
Published 13 Aug, 2005 12:00am
FTSE sags as oils pull back, but up for 4th week

FTSE sags as oils pull back, but up for 4th week

Britain's leading shares slipped for a second day on Friday as British Airways fell after strikes forced the airline to cancel flights and as oil stocks pulled back from recent highs, although the FTSE 100 index still rose for the fourth consecutive week.
Published 13 Aug, 2005 12:00am
LME plastics contracts reflect real world

LME plastics contracts reflect real world

London Metal Exchange (LME) plastics futures are reflecting regional physical prices two months after their launch, global commodity broker Man Financial told Reuters on Tuesday.
Published 13 Aug, 2005 12:00am
Nigeria's cocoa output to rise

Nigeria's cocoa output to rise

Cocoa production in the world's No 4 grower Nigeria is likely to rise by 20 percent in the 2005/06 year due to favourable rains, farm reactivation and some new planting, the head of the Cocoa Growers Association of Nigeria (CGAN) said on Friday. CGAN Nati
Published 13 Aug, 2005 12:00am
US corn and soya wilt in drought; prices steady

US corn and soya wilt in drought; prices steady

Searing drought in the eastern Corn Belt cut hundreds of millions of bushels out of the US corn and soyabean crops but farmers will have little chance to recoup losses through higher prices, the government said Friday.
Published 13 Aug, 2005 12:00am
Brazil revises up coffee forecast

Brazil revises up coffee forecast

Brazil's 2005/06 (July/June) coffee crop forecast was revised up to 33.33 million 60-kg bags, from 32.46 million bags seen in April, the agriculture ministry said on Friday.
Published 13 Aug, 2005 12:00am
New York cotton futures close easier

New York cotton futures close easier

Cotton futures finished lower Friday on a steady barrage of speculative sales while a monthly government crop report was a non-factor for the market, analysts said. The New York Board of Trade's December cotton contract fell 0.75 cent to finish at 49 cent
Published 13 Aug, 2005 12:00am
London coffee falls

London coffee falls

London's robusta coffee market fell almost two percent on Friday as speculators offloaded investments, dealers said. Liffe's second-month November finished $21 lower at $1,115 a tonne on volume of 3,442 lots in a $1,139-1,104 range. Total volume was 3,442
Published 13 Aug, 2005 12:00am
Copper closes firmer

Copper closes firmer

Copper closed strongly on Friday after setting a fresh record high of $3,605 a tonne earlier as metals remained in vogue with the investment community, dealers said. "This is a good close for the week. (Copper's) rally is definitely not over," one LME tra
Published 13 Aug, 2005 12:00am
Gold reaches for 17-year highs in London

Gold reaches for 17-year highs in London

Gold is on track to reach its highest since June 1988 as fund money pours back into the market, triggered by dollar weakness and high oil prices, traders said on Friday.
Published 13 Aug, 2005 12:00am
US MIDDAY: coffee plunges on currency movement

US MIDDAY: coffee plunges on currency movement

US front-month arabica coffee futures finished down 1.7 percent Friday, with options and currency movement accounting for the bulk of activity ahead of new crop estimates from top producer Brazil, traders said.
Published 13 Aug, 2005 12:00am
US MIDDAY: cocoa extends losses

US MIDDAY: cocoa extends losses

Cocoa futures at the New York Board of Trade fell on Friday, ending about 1 percent lower as fund and speculative selling nudged prices to contract and one-year continuation lows, traders said.The NYBOT's benchmark December contract fell $14 to settle at
Published 13 Aug, 2005 12:00am
US MIDDAY: sugar shade up on switch-related buying

US MIDDAY: sugar shade up on switch-related buying

Raw sugar prices finished higher Friday on mostly switch-related buying by speculators in the market, brokers said. The transfer of massive positions built up by funds who control large pools of money in sugar may remain a feature of business next week, t
Published 13 Aug, 2005 12:00am
US MIDDAY: wheat falls on fund selling

US MIDDAY: wheat falls on fund selling

Chicago Board of Trade wheat futures fell from 6 to 8 cents per bushel at midsession on Friday on another reminder from USDA of the plentiful global supply of wheat, traders said. Fund selling led the way down and sell-stops were hit, pit sources said.
Published 13 Aug, 2005 12:00am
US MIDDAY: corn down on crop, stocks estimates

US MIDDAY: corn down on crop, stocks estimates

Corn futures at the Chicago Board of Trade were lower early on Friday, reacting to larger-than-expected 2005 US corn production and stocks estimates released by USDA before the open, traders said.
Published 13 Aug, 2005 12:00am
US MIDDAY: copper races to record on fund buying

US MIDDAY: copper races to record on fund buying

New York copper futures launched a swift and strong rally after the open on Friday, as funds bought following a series of upbeat US economic readings and possible mine strikes, traders said. "We had some heavy fund buying after the open, but now it's pret
Published 13 Aug, 2005 12:00am
US MIDDAY: soyabeans volatile on crop, stocks estimates

US MIDDAY: soyabeans volatile on crop, stocks estimates

The Chicago Board of Trade soyabean whipsawed on Friday as volatility remained higher after the USDA released its latest US 2005 crop and stocks estimates, traders said. New-crop November soyabean futures saw an 18-1/4 cent range, trading on both sides of
Published 13 Aug, 2005 12:00am
US MIDDAY: gold slips on long liquidation

US MIDDAY: gold slips on long liquidation

US gold futures opened at their highest level in eight months on Friday before backing down a bit, as dollar weakness and record crude prices attracted investors to alternatives like the precious metals.
Published 13 Aug, 2005 12:00am
Visa International to begin full operation in Pakistan soon

Visa International to begin full operation in Pakistan soon

Visa International (VI), the world's leading payment brand and the largest payment system world-wide, has decided to expand its business operations in Pakistan and would open an office at Karachi in early 2006.
Published 13 Aug, 2005 12:00am
ADB finalises Karachi uplift projects loan report

ADB finalises Karachi uplift projects loan report

The Asian Development Bank (ADB) has finalised the draft report for technical assistance (TA) loan for mega development projects in Karachi. "The consultants of ADB have completed the paper work on development projects in Karachi for TA loan and submitted
Published 13 Aug, 2005 12:00am
Dishonoured cheques no more a criminal offence-II

Dishonoured cheques no more a criminal offence-II

The National Assembly is the highest representative body, which reflects the will and aspirations of the people of Pakistan. Similar is the status of a provincial assembly in a province. Senate, being a symbol of unity of the federating units has its own
Published 13 Aug, 2005 12:00am
DHA clarification

DHA clarification

This is with reference to Business Recorder report alleging Port Qasim Authority (PQA) to have sold a big chunk of land to Defence Housing Authority (DHA) at a throwaway price in a dubious manner published on 3rd Aug, 2005.
Published 13 Aug, 2005 12:00am
Pakistan, victim of terrorism?

Pakistan, victim of terrorism?

Why is it that the foreign media never describes Pakistan as a victim of terrorism, even though we have had more attacks than the rest of the world put together and even our President and Prime Minister have narrowly escaped concerted assassination attemp
Published 13 Aug, 2005 12:00am
Chinese soldier recalls Shanghai battle

Chinese soldier recalls Shanghai battle

Yang Yangzheng has a story to tell, and he knows it has to be told now or be lost forever. At 91, he is one of the last few to remember the fierce fighting that broke out when the Imperial Japanese Army launched an all-out attack on China in 1937, directi
Published 13 Aug, 2005 12:00am
Why privatisation is necessary for economic growth

Why privatisation is necessary for economic growth

The decade of 1970s in Pakistan witnessed a massive redistribution of national assets from the private owners to the state. The reason underlying the then Government's thinking for this extremely radical action was that the national wealth was being conce
Published 13 Aug, 2005 12:00am
The way to FDI target

The way to FDI target

The Chairman of the Board of Investment, Waseem Haqqie, has revealed the government's foreign direct investment (FDI) target for fiscal year 2005-2006 to be $3.5 billion. He added that the government was expecting to collect more than $2 billion from the
Published 13 Aug, 2005 12:00am
A worthwhile visit

A worthwhile visit

Prime Minister Shaukat Aziz's recent visit to Japan has been very successful from an economic standpoint. The Japanese Government has pledged to revive the yen loans under the Overseas Development Assistance (ODA), suspended after Pakistan's nuclear tests
Published 13 Aug, 2005 12:00am
CGH assured of Rs 250 million grant for healthcare

CGH assured of Rs 250 million grant for healthcare

Federal Minister for Information and Broadcasting Sheikh Rashid Ahmed has assured the management of Cantonment General Hospital (CGH) a grant of Rs 250 million for overcoming the shortage of staff and improving performance of the hospital.
Published 13 Aug, 2005 12:00am
Mango and kinno to be exported to Iran

Mango and kinno to be exported to Iran

Chief Executive Officer (CEO), Pakistan Horticulture Development and Export Board (PHDEB), Shamoon Sadiq has said that Iran would be a bonanza for the exporters of Pakistan and open a new venue for the export of Pakistani Mangoes and Kinnos.
Published 13 Aug, 2005 12:00am
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