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Print - 2005-08-20
New York cotton settles higher

New York cotton settles higher

Cotton futures settled higher in choppy trade on Friday as trade and speculative buying boosted values although option-related sales kept prices from breaching their session highs, market sources said.
Published 20 Aug, 2005 12:00am
London coffee recovers

London coffee recovers

London robusta coffee traded steady on Friday as the market paused for breath following the previous session's four percent slump, traders said. Liffe's benchmark November position made a session high of $1,019 per tonne but ended at $1,005, up $4 or 0.4
Published 20 Aug, 2005 12:00am
Copper steadies

Copper steadies

Copper was steady by the close of London Metal Exchange (LME) trade on Friday, recovering from early losses on light short-covering, dealers said. "The speculative sell-off first thing fizzled out and the shorts moved back in to cover. It's a steady close
Published 20 Aug, 2005 12:00am
European gold languishes near one-week low

European gold languishes near one-week low

Gold languished near one-month lows in Europe on Friday afternoon, as a strong dollar weighed on the precious metal that only a week ago hit eight-month highs, traders said.
Published 20 Aug, 2005 12:00am
US MIDDAY: coffee futures up by light speculative buying

US MIDDAY: coffee futures up by light speculative buying

US arabica coffee futures edged up Friday, boosted by light speculative buying and contract switching on the heels of a recovering robusta market in London, traders said. The New York Board of Trade's benchmark December arabica rose 0.7 percent, or 0.70 c
Published 20 Aug, 2005 12:00am
US MIDDAY: cocoa futures slump on speculative sales

US MIDDAY: cocoa futures slump on speculative sales

US cocoa futures ended in negative territory Friday, with producer hedging and speculative sales reining the benchmark price from a new 8-day high posted earlier in the session, traders said.
Published 20 Aug, 2005 12:00am
US MIDDAY: sugar faintly higher on fund selling

US MIDDAY: sugar faintly higher on fund selling

Raw sugar futures closed a whisker higher on Friday, with modest buying by local brokers supporting prices as the market stayed stuck in a narrow trading range and recent fund selling dried up, dealers said.
Published 20 Aug, 2005 12:00am
US MIDDAY: corn weaker on Meteorlogix weather condition

US MIDDAY: corn weaker on Meteorlogix weather condition

Corn futures at the Chicago Board of Trade were weaker early Friday as recent improved crop weather in the Midwest continued to weigh on prices, traders said. A sharp drop in soybeans and persistent reminders of the current big supply of feed grains globa
Published 20 Aug, 2005 12:00am
US MIDDAY: wheat firmer in choppy trading

US MIDDAY: wheat firmer in choppy trading

Wheat futures at the Chicago Board of Trade were firm early on Friday on short-covering ahead of the weekend in choppy trading, traders said. Gains were limited by a slide in soybeans that led to some spillover speculative selling in wheat futures, they s
Published 20 Aug, 2005 12:00am
US MIDDAY: copper lightly mixed on fund buying

US MIDDAY: copper lightly mixed on fund buying

New York copper futures were mixed early Friday as players seeking a near-term direction were torn between selling on inventory increases and buying dips in anticipation of rising demand over the medium term, traders said.
Published 20 Aug, 2005 12:00am
US MIDDAY: soyabeans slide on Midwest weather forecast

US MIDDAY: soyabeans slide on Midwest weather forecast

Soyabean futures at the Chicago Board of Trade were sharply lower early on Friday, pressured by the recent improvement in US Midwest crop weather and forecast for more rain this weekend, traders said.
Published 20 Aug, 2005 12:00am
US MIDDAY: choppy gold slips on technical trading

US MIDDAY: choppy gold slips on technical trading

US gold futures were whipped lower by early Friday, as a resurgent dollar prodded traders to trim positions in the precious commodity, but prices held above a fresh eight-day low in thin, pre-weekend trade.
Published 20 Aug, 2005 12:00am
UAF invites applications for admissions

UAF invites applications for admissions

University of Agriculture Faisalabad (UAF) has announced admissions in various undergraduate courses for the academic session of 2005-2006 at the main campus and College of Agriculture, Dera Ghazi Khan (DGK) and at Toba Tek Singh (TTS) sub-campus.
Published 20 Aug, 2005 12:00am
CDGL removes 137 more banners

CDGL removes 137 more banners

The staff of City District Government Lahore (CDGL) on Friday removed another 137 banners displayed by the candidates of local government elections in different parts of the city in violation of code of conduct for the elections.
Published 20 Aug, 2005 12:00am
Munawar demands EC's resignation

Munawar demands EC's resignation

Jamaat-i-Islami Secretary General Syed Munawar Hasan has demanded resignation of the Chief Election Commissioner (EC) for Allegedly letting the massive rigging and bogus polling by the Muttahida Qaumi Movement (MQM) workers in Karachi. "An independent and
Published 20 Aug, 2005 12:00am
ECP sees over 50 percent turnout in phase-I

ECP sees over 50 percent turnout in phase-I

Enthusiastic participation of the people in first phase of Local Bodies (LBs) election indicates that overall voters' turnout would be above 50 percent. Election Commission of Pakistan (ECP) Secretary Kanwar Dilshad said on Friday while speaking in a PTV
Published 20 Aug, 2005 12:00am
Danyal rejects opposition's rigging charges

Danyal rejects opposition's rigging charges

National Reconstruction Bureau (NRB) Chairman Danyal Aziz while rejecting the opposition's charges of rigging in the first phase of local bodies' elections said on Friday that such allegations were baseless and unfounded.
Published 20 Aug, 2005 12:00am
'Telecommunication facilities being expanded in Baltistan'

'Telecommunication facilities being expanded in Baltistan'

Special attention is being given to provide latest telecommunication facilities in Ghangche and Skardu districts of Baltistan, and a comprehensive plan is being implemented. The Baltistan Special Communication Organisation (SCO) Commanding Officer Colonel
Published 20 Aug, 2005 12:00am
'No political agenda to interfere in working of Madrassahs'

'No political agenda to interfere in working of Madrassahs'

Secretary Ministry of Religious Affairs Wakil Ahmed Khan Friday said that government had no political agenda or intention to interfere in the working of Madrassahs through registration. Speaking at a PTV programme, he said it was rather under the demand b
Published 20 Aug, 2005 12:00am
JI and PPP accuse government of rigging in local bodies' polls

JI and PPP accuse government of rigging in local bodies' polls

Two main opposition parties, the Jamaat-i-Islami (JI) and Pakistan People's Party have accused government of large scale rigging in phase-I Local Government elections. In an interview with VOA, Chief of Jamaat-i-Islami Qazi Hussain Ahmed said tension was
Published 20 Aug, 2005 12:00am
Parking problem an 'incurable headache' in Islamabad

Parking problem an 'incurable headache' in Islamabad

With continuous increase in the number of vehicles, parking problem in Islamabad is becoming an "incurable headache". The Capital Development Authority (CDA) has failed to anticipate the parking problem, which would aggravate with phenomenal increase in t
Published 20 Aug, 2005 12:00am
2000 women barred from casting votes in Multan

2000 women barred from casting votes in Multan

More than 2000 registered female voters of Moza Mohripur (Kabirwala) could not exercise their right of vote in Thursday's Local Government elections as their husbands had prevented them from casting their votes. Not a single woman turned up to cast her vo
Published 20 Aug, 2005 12:00am
Silicon solar cells project underway

Silicon solar cells project underway

Pakistan Council of Renewable Energy Technologies is executing a pilot production of silicon solar cells and modules project to meet power needs in the country. The project, costing over Rs 37 million, aims at providing electricity to improve the socio-ec
Published 20 Aug, 2005 12:00am
A disappointing Pakistan tour

A disappointing Pakistan tour

After spending 15 years in Saudi Arabia and vacationing in various cities of Europe, North America and Far East, my wife this year decided that it was high time my kids aged 13, 10 and 4 got to know about their motherland - Pakistan.
Published 20 Aug, 2005 12:00am
The Weather

The Weather

The weather report on Friday (August 19, 2005) and the forecast for Saturday (August 20).
Published 20 Aug, 2005 12:00am
Taxation of small companies - a flawed approach

Taxation of small companies - a flawed approach

Separate mechanism for taxation of small companies has been recently introduced in the Income Tax Ordinance, 2001, which apparently seeks to encourage corporatization of small businesses. A major portion of business in Pakistan is conducted informally thr
Published 20 Aug, 2005 12:00am
New York cotton

New York cotton

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

Published 20 Aug, 2005 12:00am
Improving labour laws

Improving labour laws

Faced with the risk of losing important Western markets if the country does not comply with the WTO requirements, that is, compliance with international labour standards, the government has suddenly sprung into action. Deciding to regulate the affairs of
Published 20 Aug, 2005 12:00am
New York cotton

New York cotton

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

Published 20 Aug, 2005 12:00am
An important step towards Madressah reform

An important step towards Madressah reform

President General Pervez Musharraf and NWFP Governor Khalilur Rehman issued identical ordinances on Wednesday, following a similar move by the governments of Punjab, Sindh and Balochistan, to regulate the affairs of Madressahs. As indicated by the title o
Published 20 Aug, 2005 12:00am
Key stock market movements at 1700 GMT on August 19

Key stock market movements at 1700 GMT on August 19

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 20 Aug, 2005 12:00am
Re-vascularisation course at LNH from today

Re-vascularisation course at LNH from today

The re-vascularisation course in Pakistan-2005 (RCP-2005) will be held at the Liaquat National Hospital (LNH) here on August 20 and 21. According to RCP-2005 Course Director, Dr Mansoor Ahmad, ischemic heart disease has taken an epidemic shape in the coun
Published 20 Aug, 2005 12:00am
Sindh plans to establish poly-trade vocational institutes

Sindh plans to establish poly-trade vocational institutes

The Sindh government has prepared a plan to convert/establish nine monotechnic institutes into poly trade vocational institutes- each of these will introduce teaching of at least five locally demanded trade. This is being done on the directives of Sindh M
Published 20 Aug, 2005 12:00am
EPB to set up fashion design institute

EPB to set up fashion design institute

Export Promotion Bureau (EPB) would set up a fashion design institute in Karachi on the pattern of Lahore Institute while the planning was already at advance stage in this regard.
Published 20 Aug, 2005 12:00am
4,300 pirated CDs/DVDs seized

4,300 pirated CDs/DVDs seized

The Pakistan Customs seized 4300 pirated CDs/DVDs at Jinnah International Airport Karachi on Friday. According to a press released issued here the staff of the Collectorate of Customs (Preventive) posted at International Arrival Hall, Jinnah International
Published 20 Aug, 2005 12:00am
PTA holding 'telecom forum' on August 24

PTA holding 'telecom forum' on August 24

Pakistan Telecommunication Authority (PTA) is organising a telecom forum on August 24 in the city. In a press release issued here on Friday, the PTA says Sindh governor Dr Ishratul Ibad will be the chief guest at the forum with the theme of "Development o
Published 20 Aug, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Voters turnout assessed at over 38 percent in Sindh

Voters turnout assessed at over 38 percent in Sindh

Sindh Chief Minister Dr Arbab Ghulam Rahim has assessed voters turnout at over 38 percent in Sindh and said that it could be still higher at some places where there had been higher vote casting.
Published 20 Aug, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (August 19, 2005) and Saturday (August 20, 2005).
Published 20 Aug, 2005 12:00am
KBCA cancels NOC for sell and advertisement of Zamindar Centre

KBCA cancels NOC for sell and advertisement of Zamindar Centre

Karachi Building Control Authority (KBCA) has cancelled the NOC for sell and advertisement of under construction project of Zamindar Centre on Plot No7 RB-4 in Saddar Town. According to a press release of KBCA the public were informed that they must avoid
Published 20 Aug, 2005 12:00am
Government incentives sought to overcome housing shortage

Government incentives sought to overcome housing shortage

Chairman Standing Committee of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Housing Munir Sultan has urged the government to pay full attention to develop housing units in Karachi and provide incentive to builders and developers to
Published 20 Aug, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Action against some civil, police officials likely

Action against some civil, police officials likely

Sindh government on Friday reviewed the performance of District Co-ordination Officers and Town Police Officers during the first phase of local government elections and identified those who would be either rewarded or transferred as punishment in view of
Published 20 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence at Port Qasim report incorporating changes till 7 am on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Hereditary disorders' impact on social life

Hereditary disorders' impact on social life

Bilqees Begum Shaikh, Associate Professor, Department of Physiology, University of Sindh, presenting her final Ph D thesis at a seminar on 'Hereditary Disorders in Pakistani Families Kindred with Special Reference to Sindh', held at University campus on W
Published 20 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence at Port Qasim report incorporating changes till 7 am on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Reception hosted to mark Indonesia's independence

Reception hosted to mark Indonesia's independence

The Consul General of Indonesia in Karachi and Mrs Entjim Herrianto hosted a reception on Friday evening at a local hotel to mark the 60th Anniversary of the proclamation of Indonesian independence. The reception was also meant to say farewell to Pakistan
Published 20 Aug, 2005 12:00am
PPP rejects local bodies' poll results, demands re-election

PPP rejects local bodies' poll results, demands re-election

Pakistan People Party, Sindh describing the results of first phase of local government polls as 'engineered' has demanded of the Election Commission (EC) to declare elections held in the province, including Karachi as null and void and hold it afresh.
Published 20 Aug, 2005 12:00am
Government taking steps for minorities' welfare: Ijaz

Government taking steps for minorities' welfare: Ijaz

Federal Minister for Religious Affairs Muhammad Ijaz-ul-Haq on Friday said government has taken a number of steps for the welfare of minorities and creation of harmony among different faiths of the world. He was talking to a four-member delegation of Repu
Published 20 Aug, 2005 12:00am
Noreen takes oath as AJK minister for agriculture and livestock

Noreen takes oath as AJK minister for agriculture and livestock

The President of Azad Jammu and Kashmir, Major General (Retd) Sardar Mohammed Anwar Khan on Friday administered oath to Noreen Arif as Minister for Agriculture and Livestock AJK. The oath taking ceremony was held in the Presidential block of the Kashmir H
Published 20 Aug, 2005 12:00am
White paper on irregularities in local bodies' polls soon: Naimat

White paper on irregularities in local bodies' polls soon: Naimat

Former Karachi Nazim Naimatullah Khan said on Friday that "White Paper" would be published soon on rigging, bogus voting in local bodies polls in Karachi. "A strategy will be announced shortly in this regard, for which all political parties are being appr
Published 20 Aug, 2005 12:00am
Report in forgery case submitted to Supreme Court

Report in forgery case submitted to Supreme Court

Islamabad police Friday presented a progress report before the Supreme Court on the ongoing investigation against the accused involved in making a fake order of the apex court.
Published 20 Aug, 2005 12:00am
KESC bill payment date extended

KESC bill payment date extended

Last date for electricity bills falling due on August 18 has been extended up to August 20, 2005 without late payment charges, KESC spokesman said here on Friday. While, bills falling due on August 25, can also be paid on August 26, without late payment c
Published 20 Aug, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Watan Dost emerges as largest group in Peshawar

Watan Dost emerges as largest group in Peshawar

The 'Watan Dost' Group, backed by Awami National Party (ANP), has emerged as the largest group in the local bodies elections, securing 28 seats of nazims in 92 union councils of the City District Peshawar, followed by Al-Khidmat Group of Jamaat-i-Islami (
Published 20 Aug, 2005 12:00am
Opposition studying grand alliance against rigging in LG polls

Opposition studying grand alliance against rigging in LG polls

Opposition parties are considering forming a grand alliance and a national charter to thwart rigging in local bodies elections. "The chief election commissioner (CEC) should play due role in ensuring transparent polls and withdraw cases against Hanif Abba
Published 20 Aug, 2005 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Army surgeon visits NUML

Army surgeon visits NUML

Lieutenant General Syed Afzal Ahmad, Surgeon General, Pakistan Army, paid a visit to the National University of Modern Languages (NUML) here on Friday. Soon after arrival, accompanied by NUML Rector Brigadier Dr Aziz Ahmad Khan (Retd) he took round of var
Published 20 Aug, 2005 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Aug, 2005 12:00am
National Assembly panel condemns bar on women in LG polls

National Assembly panel condemns bar on women in LG polls

The National Assembly Standing Committee on Women Development on Friday condemned the act of barring women to exercise their right of vote in the local bodies elections and demanded of the Election Commission to declare the elections in such areas null an
Published 20 Aug, 2005 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 20 Aug, 2005 12:00am
Plan to set up tools, dye and mould centre in Orangi

Plan to set up tools, dye and mould centre in Orangi

The federal government proposes to set up a state-of-the-art tool, dye and mould (TDM) centre in Orangi, Karachi, which is projected to produce tools, dyes and moulds to the tune of $2.5 million per year for the domestic engineering industry.
Published 20 Aug, 2005 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Aug, 2005 12:00am
TCP floats urea import tender

TCP floats urea import tender

Trading Corporation of Pakistan (TCP) has floated a tender for import of 75,000 metric tons (MT) urea in bulk from international sources to meet domestic requirement. A TCP official said here on Friday that bidding for the tender would be held on August 2
Published 20 Aug, 2005 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 20 Aug, 2005 12:00am
Supreme Court upholds decision of FST in Dr Shahnaz case

Supreme Court upholds decision of FST in Dr Shahnaz case

Two-member bench of the Supreme Court (SC) on Friday dismissed a petition filed by the Ministry of Education against Dr Shahnaz A Riaz and upheld decision of the Federal Services Tribunal (FST) after hearing arguments of both the parties - petitioner as w
Published 20 Aug, 2005 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (August 19, 2005).

Published 20 Aug, 2005 12:00am
Political constraints badly affect Pakistani institutions

Political constraints badly affect Pakistani institutions

International Consultant Donald Marzullo has observed that many Pakistani institutions appear politically constrained and lack the procedural apparatus to speed necessary decisions, execute programmes and evaluate changing requirements.
Published 20 Aug, 2005 12:00am
Gem and jewellery sector to get industry status

Gem and jewellery sector to get industry status

The government has decided to grant the Gem and jewellery sector a status of the industry. This was disclosed by the Gems and Jewellery Strategy Working Group (SWOG) to be managed by the Small and Medium Enterprise Development Authority (Smeda) in partner
Published 20 Aug, 2005 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 Aug, 2005 12:00am
Usman joins Founders Group

Usman joins Founders Group

Mian Mohammad Usman of Viva International (Pvt) Limited has joined Founders Group and announced his full support to Founders Group in the forthcoming LCCI elections.
Published 20 Aug, 2005 12:00am
Sudanese judges visit Federal Shariah Court

Sudanese judges visit Federal Shariah Court

Four senior judicial officers of Sudan were among a large number of their Pakistani counterparts that visited the Federal Shariah Court here on Friday and attended a briefing by Chief Justice Ijaz Yousof on his institution's working.
Published 20 Aug, 2005 12:00am
PHC grants bail to former nazim

PHC grants bail to former nazim

Peshawar High Court (PHC) on Friday granted bail to former nazim Town-I Peshawar, Haroon Bashir Bilour after the returning officer (RO) announced one-month imprisonment for Bilour on charges of creating disturbance in a polling station of Sheikhabad.
Published 20 Aug, 2005 12:00am
Cotton cultivation target achieved

Cotton cultivation target achieved

The cultivation of cotton crop has been completed over an area of 3.282 million hectares achieving 101.1 percent of the set target of 3.247 million hectares for the year 2005-06. According to official sources the cotton sowing has also marked an increase
Published 20 Aug, 2005 12:00am
PML-N claims success in first phase of local bodies' polls

PML-N claims success in first phase of local bodies' polls

Despite worst rigging, the PML-N-backed Watan Nawaz group won with visible majority in the first phase of Local Government elections and total sweep in Sialkot and Gujranwala districts. PML-N Central Secretary Finance Mohammad Pervaiz Malik said this whil
Published 20 Aug, 2005 12:00am
Presiding officer accused of election rigging bailed out

Presiding officer accused of election rigging bailed out

Judicial Magistrate South, Naheed Jabbar on Friday admitted Muhammad Asif, Presiding Officer in August 18 elections to bail against a surety of Rs 20,000. Eidgah police arrested him on Thursday after complaint from a candidate that accused deputy director
Published 20 Aug, 2005 12:00am
Police Patrolling Posts made operational: Pervaiz

Police Patrolling Posts made operational: Pervaiz

Punjab Chief Minister Chaudhry Pervaiz Elahi has said Police Patrolling Posts (PPPs) have been made operational in 22 districts of the province, while that project would soon be implemented in the remaining districts to curb crimes, and provide sense of p
Published 20 Aug, 2005 12:00am