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Print - 2005-08-14
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
New York sugar firmer

New York sugar firmer

Raw sugar prices finished higher on Friday on mostly switch-related buying by speculators in the market, brokers said. The transfer of massive positions built up by funds that control large pools of money in sugar may remain a feature of business next wee
Published 14 Aug, 2005 12:00am
New York gold futures end at eight-month high

New York gold futures end at eight-month high

US gold futures edged up to close at their highest level in eight months on Friday, as the mixture of dollar weakness and crude oil at $67 a barrel drew investors to alternative assets like the precious metals.
Published 14 Aug, 2005 12:00am
Soya closes lower

Soya closes lower

The Chicago Board of Trade soyabean market whipsawed on Friday as volatility increased after the USDA released its latest US 2005 crop and stocks estimates, traders said.
Published 14 Aug, 2005 12:00am
CBOT rice tumbles

CBOT rice tumbles

Rough rice futures at the Chicago Board of Trade fell about 20 cents per hundredweight on Friday, reacting to USDA bumping up its US 2005 production and stocks forecasts, traders said. The report was negative. Production was increased pretty significantly
Published 14 Aug, 2005 12:00am
Australian wool prices retreat

Australian wool prices retreat

Australian wool prices lost 1.5 percent in average values this week weighed by significant falls in the southern market, analysts said on Friday. The AWEX Eastern Market Indicator (EMI) fell 11 cents to finish the week at 706 cents a kg clean, based on de
Published 14 Aug, 2005 12:00am
New York cocoa futures hit one-year low

New York cocoa futures hit one-year low

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 14 Aug, 2005 12:00am
Indian wheat up on buying, sugar falls on supplies

Indian wheat up on buying, sugar falls on supplies

Indian wheat futures rose on Friday on strong buying and sugar prices fell as the market expected more stocks for sale in August, brokers said. Gold futures increased in line with global markets and soyaoil was marginally up but traders expected prices to
Published 14 Aug, 2005 12:00am
New York coffee settles down 1.7 percent

New York coffee settles down 1.7 percent

US front-month arabica coffee futures finished down 1.7 percent on Friday, with options and currency movement accounting for the bulk of activity ahead of new crop estimates from top producer Brazil, traders said.
Published 14 Aug, 2005 12:00am
Lebanon's budget deficit grows

Lebanon's budget deficit grows

Lebanon's budget deficit grew to 27.26 percent of spending in the first half of 2005 as declining tax receipts eroded revenues, the finance ministry said on Saturday.
Published 14 Aug, 2005 12:00am
Russia finance minister submits 2006 budget

Russia finance minister submits 2006 budget

Russia's finance ministry has submitted the 2006 budget plan to the government with a small spending hike, documents obtained by Reuters showed on Saturday.
Published 14 Aug, 2005 12:00am
Volkswagen's has no plans to join Daimler

Volkswagen's has no plans to join Daimler

Volkswagen Brand Group chief Wolfgang Bernhard has no plans to leave the company and return to rival DaimlerChrysler, Bernhard said in an e-mail to staff at Europe's largest carmaker.
Published 14 Aug, 2005 12:00am
Siemens gives reform ultimatum to SBS bosses

Siemens gives reform ultimatum to SBS bosses

Siemens' chief executive has given bosses of ailing IT unit SBS an ultimatum to come up with reform plans ahead of an August 29 meeting of the German conglomerate's board, a media report said on Saturday.
Published 14 Aug, 2005 12:00am
Coal-guzzling China to build offshore wind plant

Coal-guzzling China to build offshore wind plant

China plans to build its first offshore wind power plant next year, Xinhua news agency said on Saturday, as the world's seventh-largest economy seeks to end crippling power shortages and choking air pollution.
Published 14 Aug, 2005 12:00am
Eichel sees signs of revival

Eichel sees signs of revival

German tax revenues to July grew faster than forecast in the most recent official estimate in May and point to a gradual revival of domestic demand, Finance Minister Hans Eichel told Reuters.
Published 14 Aug, 2005 12:00am
British Airways works to clear backlog after crippling strike

British Airways works to clear backlog after crippling strike

British Airways resumed more than 80 percent of its scheduled flights from London's Heathrow Airport on Saturday as staff struggled to clear the backlog from a wildcat strike during the peak summer holiday season.
Published 14 Aug, 2005 12:00am
Zimbabwe bureaucracy delays food aid: US envoy

Zimbabwe bureaucracy delays food aid: US envoy

A senior US official said on Saturday he was deeply concerned about the food crisis in Zimbabwe and that government red tape was delaying aid from reaching those in need.
Published 14 Aug, 2005 12:00am
Google pauses on book search after copyright flap

Google pauses on book search after copyright flap

Google Inc, responding to an outcry by publishers, has temporarily scaled back plans to make the full text of copyrighted books in five of the world's great libraries searchable via the Internet.
Published 14 Aug, 2005 12:00am
Bangladesh blames Canadian firm for gas fire

Bangladesh blames Canadian firm for gas fire

A Bangladesh inquiry has blamed Canadian firm Niko Resources Ltd for a major gas field and the company will be asked to pay compensation, a government official said on Saturday.
Published 14 Aug, 2005 12:00am
Airbus plans manufacturing plant in China

Airbus plans manufacturing plant in China

Airbus is considering building a manufacturing plant in China to commemorate the 20th anniversary of its entry into the Chinese market, Xinhua news agency said. Airbus had received orders for 59 aircraft from five Chinese airline companies this year, acco
Published 14 Aug, 2005 12:00am
Florida man guilty of stealing 1.5 billion data files

Florida man guilty of stealing 1.5 billion data files

A Florida man who ran a bulk e-mail company was convicted on Friday of stealing more than 1.5 billion data files from Acxiom Corp in what federal officials said was one of the largest recorded cases of data theft.
Published 14 Aug, 2005 12:00am
Thuraya sees 2005 profit jumping to over $84 million

Thuraya sees 2005 profit jumping to over $84 million

UAE-based Thuraya Satellite Telecommunications Co expects its 2005 net profit to rise to over $84 million, a senior executive was quoted as saying on Saturday. The firm also hopes to take delivery of a third satellite from Boeing next year and launch it b
Published 14 Aug, 2005 12:00am
Thuraya sees 2005 profit jumping to over $84 million

Thuraya sees 2005 profit jumping to over $84 million

UAE-based Thuraya Satellite Telecommunications Co expects its 2005 net profit to rise to over $84 million, a senior executive was quoted as saying on Saturday. The firm also hopes to take delivery of a third satellite from Boeing next year and launch it b
Published 14 Aug, 2005 12:00am
Delta Air exploring bankruptcy financing

Delta Air exploring bankruptcy financing

Delta Air Lines has begun arranging the financing it would need should it seek bankruptcy protection, The New York Times reported on Saturday. Citing "people with direct knowledge of Delta's actions," the Times reported that Wall Street analysts, industry
Published 14 Aug, 2005 12:00am
From Plassey to Pakistan

From Plassey to Pakistan

In modern Indian history, Plassey (1757) started a trend that culminated a hundred years later in the complete supremacy of the British over the entire subcontinent. The battles, among others, of Buxar (1764), Seringapatam (1799), and Miani, Sind (1843),
Published 14 Aug, 2005 12:00am
Was Pakistan created for Talibanisation?

Was Pakistan created for Talibanisation?

Never before in the history of Pakistan has religious extremism posed such a grave threat to peace and stability of civil society. Even when Islamabad was doing business with Taleban and some critics warned against the spillover effect, the Afghan policy
Published 14 Aug, 2005 12:00am
The arrogance of the Congress

The arrogance of the Congress

Pakistan had been literally a dream until it became a reality on August 14, 1947. Who could predict in 1930 or, in fact, upto the 1937 elections that India would be partitioned and a new sovereign State by the name of Pakistan would emerge?
Published 14 Aug, 2005 12:00am
Pakistan: a Muslim dream come true

Pakistan: a Muslim dream come true

The nation is today celebrating the 58th anniversary of the coming into being of Pakistan, the dream of Allama Iqbal, the Poet of the East, other Muslim leaders and millions of the Muslims of the subcontinent. It was achieved under the dynamic leadership
Published 14 Aug, 2005 12:00am
The change in the Quaid's stance

The change in the Quaid's stance

When a true genius appears in the world, you may know him by the sign that the dunces are all in a confederacy against him", - Jonathan Swift. Even in the turbulent political era Jinnah having given pledge to don the mantle of a solicitor of Hindu - Musli
Published 14 Aug, 2005 12:00am
Downslide or leapforward

Downslide or leapforward

People of Pakistan celebrate fifty-eighth Independence Day of Pakistan today reiterating once again their commitment to the well-being of the country in particular and of the people of the world in general. There is a fresh resolve to fight extremism, ter
Published 14 Aug, 2005 12:00am
Jinnah, a great disciplinarian

Jinnah, a great disciplinarian

Even Mohammad Ali Jinnah's detractors and sworn enemies may find a disciplinarian an expression far too harsh to describe his political demeanours. Those who are straining every nerve in a bid to blot his name may not be well acquainted with the meaning o
Published 14 Aug, 2005 12:00am
Pakistan's emergence, achievements and ordeals

Pakistan's emergence, achievements and ordeals

A turning point in the history of the sub-continent reached when on the 14th August, 1947 the nation led by the great leader Muhammad Ali Jinnah marched to its destiny and won the battle for Pakistan within seven years of the adoption of Lahore resolution
Published 14 Aug, 2005 12:00am
State Bank of Pakistan conversion rates

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 14 Aug, 2005 12:00am
Barclays bid rates and maximum rates for payment of interest

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 14 Aug, 2005 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Bill buying rates per unit of currency

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 Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (August 13, 2005).
Published 14 Aug, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday August 15, 2005.

Published 14 Aug, 2005 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday August 15, 2005.

Published 14 Aug, 2005 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday August 15, 2005.

Published 14 Aug, 2005 12:00am
THE RUPEE: currency rates move both ways

THE RUPEE: currency rates move both ways

The rupee did not go under any major change in its overnight levels against the dollar in the interbank market for buying and selling at 59.66 and59.67, respectively. Balanced demand and supply factor helped the rupee to retain its firmness versus the dol
Published 14 Aug, 2005 12:00am
THE RUPEE: currency rates move both ways

THE RUPEE: currency rates move both ways

The rupee did not go under any major change in its overnight levels against the dollar in the interbank market for buying and selling at 59.66 and59.67, respectively. Balanced demand and supply factor helped the rupee to retain its firmness versus the dol
Published 14 Aug, 2005 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed on Sunday, August 14, on account of Independence Day. There will, therefore be no issue of the paper and internet edition on Monday, August 15 2005.
Published 14 Aug, 2005 12:00am
Musharraf terms cruise missile test a milestone

Musharraf terms cruise missile test a milestone

President Pervez Musharraf said here on Saturday that the successful test of cruise missile was a major milestone in Pakistan's quest "for strengthening and consolidating minimum deterrence". He was addressing the 92nd Corps Commander Conference here, whi
Published 14 Aug, 2005 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Musharraf terms cruise missile test a milestone

Musharraf terms cruise missile test a milestone

President Pervez Musharraf said here on Saturday that the successful test of cruise missile was a major milestone in Pakistan's quest "for strengthening and consolidating minimum deterrence". He was addressing the 92nd Corps Commander Conference here, whi
Published 14 Aug, 2005 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
External debt rises by $730 million

External debt rises by $730 million

Pakistan's external debt has increased by $730 million during 2004-05, touching $34.037 billion. According to the State Bank of Pakistan (SBP) data released on Saturday, total external debt on June 30, 2005 was $34.037 billion as against $33.307 billion l
Published 14 Aug, 2005 12:00am
The Weather

The Weather

The weather report on Saturday (August 13) and the forecast for Sunday (August 14, 2005).
Published 14 Aug, 2005 12:00am
Six bids for 50,000 tons sugar short-listed

Six bids for 50,000 tons sugar short-listed

The Trading Corporation of Pakistan (TCP) short-listed six bids on Saturday for a tender to import 50,000 tonnes of white sugar at between $337.45 and $390 per tonne C&F Karachi, an official said.
Published 14 Aug, 2005 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (August 8-13, 2005).

Published 14 Aug, 2005 12:00am
Six bids for 50,000 tons sugar short-listed

Six bids for 50,000 tons sugar short-listed

The Trading Corporation of Pakistan (TCP) short-listed six bids on Saturday for a tender to import 50,000 tonnes of white sugar at between $337.45 and $390 per tonne C&F Karachi, an official said.
Published 14 Aug, 2005 12:00am
$10,000 advance payment allowed against imports

$10,000 advance payment allowed against imports

The State Bank of Pakistan has allowed the authorised dealers to remit advance payments, up to $10,000. This permission would be against the intended import of spare parts/consumables by the manufacturing and industrial users, for their own use. Letter of
Published 14 Aug, 2005 12:00am
Atlas Fund Prices

Atlas Fund Prices

Atlas Fund Prices on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
$10,000 advance payment allowed against imports

$10,000 advance payment allowed against imports

The State Bank of Pakistan has allowed the authorised dealers to remit advance payments, up to $10,000. This permission would be against the intended import of spare parts/consumables by the manufacturing and industrial users, for their own use. Letter of
Published 14 Aug, 2005 12:00am
Atlas Fund Prices

Atlas Fund Prices

Atlas Fund Prices on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
$10,000 advance payment allowed against imports

$10,000 advance payment allowed against imports

The State Bank of Pakistan has allowed the authorised dealers to remit advance payments, up to $10,000. This permission would be against the intended import of spare parts/consumables by the manufacturing and industrial users, for their own use. Letter of
Published 14 Aug, 2005 12:00am
Atlas Fund Prices

Atlas Fund Prices

Atlas Fund Prices on Saturday (August 13, 2005).

Published 14 Aug, 2005 12:00am
Hong Kong firm to set up fertiliser plant in Pakistan

Hong Kong firm to set up fertiliser plant in Pakistan

A Hong Kong company will set up a fertiliser plant with an investment of 300 million dollars in Pakistan. An agreement was signed between Chairman of China National Chemical Engineering Corporation Jin Kening and Chief Executive of Pakistan's Fatima Group
Published 14 Aug, 2005 12:00am
Hong Kong firm to set up fertiliser plant in Pakistan

Hong Kong firm to set up fertiliser plant in Pakistan

A Hong Kong company will set up a fertiliser plant with an investment of 300 million dollars in Pakistan. An agreement was signed between Chairman of China National Chemical Engineering Corporation Jin Kening and Chief Executive of Pakistan's Fatima Group
Published 14 Aug, 2005 12:00am
Hong Kong firm to set up fertiliser plant in Pakistan

Hong Kong firm to set up fertiliser plant in Pakistan

A Hong Kong company will set up a fertiliser plant with an investment of 300 million dollars in Pakistan. An agreement was signed between Chairman of China National Chemical Engineering Corporation Jin Kening and Chief Executive of Pakistan''s Fatima Grou
Published 14 Aug, 2005 12:00am
Treasury bills may see 5-10 basis points rise

Treasury bills may see 5-10 basis points rise

The next treasury bills auction target may be smaller, but analysts expect an increase of 5 to 10 basis points in yield. The JS PGBI, which is the primary indicator of Pakistan Bond Markets, showed an increase of 0.0295 points over the week, bringing the
Published 14 Aug, 2005 12:00am
Rumours rule share market

Rumours rule share market

Rumours made the shares market investors hostage last week as several punters deliberately infused negative developments creating panic among traders, forcing them to offload their portfolio undergoing a colossal loss of 3.6 percent.
Published 14 Aug, 2005 12:00am
Saarc committee meetings postponed, Kasuri to attend Lakshman's funeral

Saarc committee meetings postponed, Kasuri to attend Lakshman's funeral

Due to tragic assassination of Sri Lankan Foreign Minister Kadirgamar, Pakistan as Saarc chairman, on Saturday announced the postponement of the 31st Session of the Standing Committee and 26th Session of the Programming Committee. The meetings were schedu
Published 14 Aug, 2005 12:00am
Mutual funds may invest 30 percent abroad

Mutual funds may invest 30 percent abroad

The State Bank of Pakistan (SBP) has allowed mutual funds to invest in overseas markets to the extent of 30 percent of their fund size aimed to diversify their portfolio, and likely increase in dividend income for local shareholders.
Published 14 Aug, 2005 12:00am
Mutual funds may invest 30 percent abroad

Mutual funds may invest 30 percent abroad

The State Bank of Pakistan (SBP) has allowed mutual funds to invest in overseas markets to the extent of 30 percent of their fund size aimed to diversify their portfolio, and likely increase in dividend income for local shareholders.
Published 14 Aug, 2005 12:00am
Mutual funds may invest 30 percent abroad

Mutual funds may invest 30 percent abroad

The State Bank of Pakistan (SBP) has allowed mutual funds to invest in overseas markets to the extent of 30 percent of their fund size aimed to diversify their portfolio, and likely increase in dividend income for local shareholders.
Published 14 Aug, 2005 12:00am
Mutual funds may invest 30 percent abroad

Mutual funds may invest 30 percent abroad

The State Bank of Pakistan (SBP) has allowed mutual funds to invest in overseas markets to the extent of 30 percent of their fund size aimed to diversify their portfolio, and likely increase in dividend income for local shareholders.
Published 14 Aug, 2005 12:00am
Treasury bills may see 5-10 basis points rise

Treasury bills may see 5-10 basis points rise

The next treasury bills auction target may be smaller, but analysts expect an increase of 5 to 10 basis points in yield. The JS PGBI, which is the primary indicator of Pakistan Bond Markets, showed an increase of 0.0295 points over the week, bringing the
Published 14 Aug, 2005 12:00am