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Print - 2005-08-25
Oil hits record on storm, gasoline supply

Oil hits record on storm, gasoline supply

Oil prices surged more than 2 percent to set a record on Wednesday, after an unexpectedly large drop in US gasoline stocks added to worries that a gathering storm in the Atlantic could damage US oil production platforms.
Published 25 Aug, 2005 12:00am
Oil hits record on storm, gasoline supply

Oil hits record on storm, gasoline supply

Oil prices surged more than 2 percent to set a record on Wednesday, after an unexpectedly large drop in US gasoline stocks added to worries that a gathering storm in the Atlantic could damage US oil production platforms.
Published 25 Aug, 2005 12:00am
Oil hits record on storm, gasoline supply

Oil hits record on storm, gasoline supply

Oil prices surged more than 2 percent to set a record on Wednesday, after an unexpectedly large drop in US gasoline stocks added to worries that a gathering storm in the Atlantic could damage US oil production platforms.
Published 25 Aug, 2005 12:00am
US MIDDAY: coffee slips on speculative fund selling

US MIDDAY: coffee slips on speculative fund selling

US arabica coffee futures slid more than 2 percent Wednesday, with speculative and fund selling amid weak technical signals erasing the previous session's gains, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: cocoa firmer on profit-taking

US MIDDAY: cocoa firmer on profit-taking

US cocoa futures closed steady to a shade higher on Wednesday, with speculative selling and profit-taking nudging prices down from a 2-week high posted earlier in the session, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: sugar hits nine-day high on price hike

US MIDDAY: sugar hits nine-day high on price hike

New York raw sugar futures rose to a nine-day high on Wednesday, accelerating right before the close as extra buying kicked in once prices broke above the morning high.
Published 25 Aug, 2005 12:00am
US MIDDAY: wheat down on moderate fund selling

US MIDDAY: wheat down on moderate fund selling

Wheat futures at the Chicago Board of Trade were lower at midmorning on Wednesday, weighed by light to moderate fund selling amid a lack of supportive news, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: corn mostly weak on volatile trading

US MIDDAY: corn mostly weak on volatile trading

Corn futures at the Chicago Board of Trade were mostly weak early on Wednesday amid routine exports and abundant stocks of feed grains globally, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: copper slides on small funds selling

US MIDDAY: copper slides on small funds selling

Copper futures fell at the open on Wednesday, hit first by a spike in London copper stocks, then hammered further by a sharp drop in US orders data, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: soyabeans lower on fund selling

US MIDDAY: soyabeans lower on fund selling

Soyabean futures at the Chicago Board of Trade were lower early on Wednesday amid fund selling and reports from a crop tour in the Midwest of solid soya yield prospects this year, traders said.
Published 25 Aug, 2005 12:00am
US MIDDAY: gold bounces back on durable goods orders

US MIDDAY: gold bounces back on durable goods orders

US gold futures reversed course to edge higher Wednesday morning after US July durable goods orders fell much more than expected, traders said. Metals prices got on the upswing while the dollar weakened after a report showing orders tumbled 4.9 percent la
Published 25 Aug, 2005 12:00am
Court rejects candidate's plea

Court rejects candidate's plea

Supreme Court of Pakistan on Wednesday refused to allow a religious leader Hafiz Assaad Ubaid for contesting local bodies elections on the ground that the applicant has failed to produce his matriculation certificate.
Published 25 Aug, 2005 12:00am
Media urged to help strengthen ties with Malaysia

Media urged to help strengthen ties with Malaysia

Minister for Information and Broadcasting Sheikh Rashid Ahmed on Wednesday urged the media to play its role in further strengthening relations between Pakistan and Malaysia. He was talking to a visiting delegation of senior media-persons from Malaysia her
Published 25 Aug, 2005 12:00am
Hussain Dadabhoy felicitated

Hussain Dadabhoy felicitated

Asif Ishtiaq, Senior Vice Chairman, Nooriabad Association of Trade and Industry has felicitated Mohammed Hussain Dadabhoy, Chairman MH Dadabhoy Group of Companies on being conferred Sitara-i-Imtiaz by the President of Pakistan for his relentless efforts f
Published 25 Aug, 2005 12:00am
Supreme Court issues notice to NAB

Supreme Court issues notice to NAB

A Division Bench of the Supreme Court, working here during the summer vacations, has put the National Accountability Bureau under notice to defend the legality of its reference against some officers of the Pakistan Agricultural Research Council (Parc).
Published 25 Aug, 2005 12:00am
Stamps available at Islamabad, Quetta company registration offices

Stamps available at Islamabad, Quetta company registration offices

To facilitate promoters of companies, the Securities and Exchange Commission of Pakistan (SECP) has made available at its Quetta and Islamabad company registration offices adhesive stamps required for registration of memorandum and articles of association
Published 25 Aug, 2005 12:00am
Meeting for rehabilitation of railways today

Meeting for rehabilitation of railways today

Chairman Planning Commission Akram Sheikh will preside over a meeting of the senior officials of the Pakistan Railways (PR), World Bank and other stakeholders on Thursday to prepare a master plan for modernisation and rehabilitation of more than a century
Published 25 Aug, 2005 12:00am
Ruling alliance indulged in transparent rigging: ARD

Ruling alliance indulged in transparent rigging: ARD

Terming the claims of Sheikh Rashid of winning 30 seats in Rawal town just and stunt, Agha Riazul Islam has said that this is loudly speaking about the intentions of the ruling alliance for holding transparent rigging.
Published 25 Aug, 2005 12:00am
AJK achieves Rs 903.388 million tax collection target

AJK achieves Rs 903.388 million tax collection target

The AJK Central Excise & Sales Tax (CEST) has successfully achieved Rs 903.388 million target of realisation of taxes with an additional increase of Rs 244.388 million fixed for the last financial year of 2004-05. The target was achieved through collectio
Published 25 Aug, 2005 12:00am
Malaysian media delegation calls on Prime Minister

Malaysian media delegation calls on Prime Minister

Prime Minister Shaukat Aziz on Wednesday said Pakistan wants peace with all the countries including its neighbours. He was talking to a media delegation from Malaysia comprising representatives of Malaysian newspapers and news agencies here at Prime Minis
Published 25 Aug, 2005 12:00am
The Weather

The Weather

The weather report on Wednesday (August 24, 2005) and the forecast for Thursday (August 25).
Published 25 Aug, 2005 12:00am
Sustainability of economic growth stressed

Sustainability of economic growth stressed

Senator Nisar A Memon on Wednesday emphasised the need of focusing on education to enable the country to make headway in the comity of nations. He was delivering a talk at the Arts Faculty of Karachi University. Nisar Memon, who is also the chairman of th
Published 25 Aug, 2005 12:00am
New York cotton

New York cotton

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

Published 25 Aug, 2005 12:00am
Pakistan committed to Afghan security needs: Akram

Pakistan committed to Afghan security needs: Akram

Amid rising violence in Afghanistan, Pakistan has reaffirmed its commitment to help Afghan government and international coalition in restoring security in the war-torn country.
Published 25 Aug, 2005 12:00am
New York cotton

New York cotton

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

Published 25 Aug, 2005 12:00am
Agreements likely to be signed with Algeria

Agreements likely to be signed with Algeria

Pakistan and Algeria are likely to sign convention on avoidance of double taxation and the prevention of fiscal evasion pertaining to taxes on income and capital. Tax authorities of both the sides will also sign another important agreement of mutual assis
Published 25 Aug, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Malaysia agonises over race policy

Malaysia agonises over race policy

For decades, Yeow Kim Kin and his fellow ethnic Chinese have been the engine of the Malaysian economy. Born in China, 64-year-old Yeow has been running his grocery shop in a small town in the rural south-west for 30 years. Most businesses here are run by
Published 25 Aug, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Polls duty and public transport

Polls duty and public transport

According to the print media and one's own practical experience, it is stated that the police had impounded hundreds of public transport vehicles for the election duty. Due to this illegal and immoral action of police authorities, people have faced great
Published 25 Aug, 2005 12:00am
Key stock market movements at 1700 GMT on August 24

Key stock market movements at 1700 GMT on August 24

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 25 Aug, 2005 12:00am
The mighty water board

The mighty water board

As a reader of your paper, I am surprised to see that inspite of your very forceful and revealing editorial, and a spate of letters appearing in your daily, the woes of the people against the Karachi Water & Sewerage Board (KW&SB) for mismanagement in the
Published 25 Aug, 2005 12:00am
Implementation of ERP systems in oil refineries

Implementation of ERP systems in oil refineries

Over recent years the acquisition, implementation and use of Enterprise Resource Planning (ERP) Systems have become a standard feature of most national and multinational companies in Pakistan. Todate most of the literature on ERP implementation has focuse
Published 25 Aug, 2005 12:00am
Prospects of alternative energy development

Prospects of alternative energy development

It, indeed, is heartening to learn from Business Recorder reports from Islamabad that the Alternative Energy Development Board is proceeding apace with the task assigned to it. This has reference, among other things, to its two-day seminar on "Indi
Published 25 Aug, 2005 12:00am
New policy for improving agricultural pesticides

New policy for improving agricultural pesticides

Faced with widespread complaints about the quality of agricultural pesticides, the government is said to be contemplating replacement of the Agriculture Pesticide Ordinance, 1971, with a new law. As a report appearing in this paper the other day disclosed
Published 25 Aug, 2005 12:00am
New water filtration plants in Islamabad soon

New water filtration plants in Islamabad soon

Seven new water filtration plants will soon start functioning in the federal capital, a Capital Development Authority (CDA) board meeting was told on Wednesday.
Published 25 Aug, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
AJK Prime Minister to attend Urumqi fair

AJK Prime Minister to attend Urumqi fair

Prime Minister of Azad Kashmir Sardar Sikandar Hayat Khan will attend the international fair being held in Urumqi, capital of Xinjiang region next week.
Published 25 Aug, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (August 24, 2005) and Thursday (August 25, 2005).
Published 25 Aug, 2005 12:00am
NWFP businessmen assured of industrial estate in Malakand

NWFP businessmen assured of industrial estate in Malakand

NWFP Governor Khalil-ur-Rehman has assured industrialists of establishing industrial estate in Malakand to facilitate the local business community. The Governor was talking to a six-member delegation of the Malakand Association of Trade and Industry (Mati
Published 25 Aug, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, August 25, 2005.

Published 25 Aug, 2005 12:00am
Pak-India border forces meeting held at Wagah

Pak-India border forces meeting held at Wagah

The quarterly co-ordination meeting between the border forces of Pakistan and India was held at the Wagah check-post on Wednesday. The meetings between the border forces of both sides are held alternatively on each other's soil, and this time it was Pakis
Published 25 Aug, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, August 25, 2005.

Published 25 Aug, 2005 12:00am
New SME policy to reduce unemployment

New SME policy to reduce unemployment

New SME Policy, which was likely to be finalised by September, would not only help promote small and medium businesses but would also curtail the rate of unemployment in the country. Rehmatullah Javed, member Federal Task Force Convenor LCCI Standing Comm
Published 25 Aug, 2005 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, August 25, 2005.

Published 25 Aug, 2005 12:00am
Government planning to rig second phase local bodies' polls: Paracha

Government planning to rig second phase local bodies' polls: Paracha

Muttahida Majlis-i-Amal (MMA) senior leader Farid Paracha along with the leaders of Alliance for the Restoration of Democracy (ARD) has alleged that the government after losing first phase of local government elections was planning to rig the second phase
Published 25 Aug, 2005 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Porsche to land in Pakistan

Porsche to land in Pakistan

Deesch Papke Porsche Middle East & Africa Managing Director in a ceremony here on Wednesday has announced more regional growth of the company by expanding its presence into highly anticipated Pakistani market through appointing its importer, Autotechnik P
Published 25 Aug, 2005 12:00am
LCCI urges Danish investors to invest in Pakistan

LCCI urges Danish investors to invest in Pakistan

Denmark had a lot of potential for Pakistani entrepreneurs and they could initiate joint ventures with their Danish counterparts in agriculture, heavy machinery, dairy products, food-processing and construction industry.
Published 25 Aug, 2005 12:00am
LCCI close today

LCCI close today

Lahore Chamber of Commerce and Industry (LCCI) will remain closed on Thursday in connection with second phase of Local Bodies polls in Lahore. However, the working on Friday will be as usual.
Published 25 Aug, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
'Electricity for all villages by December 2007'

'Electricity for all villages by December 2007'

Punjab Chief Minister Chaudhry Pervaiz Elahi has said the electricity would be supplied to all villages of the province by December 2007. The scheme of 20 per cent rebate on power tariff on agri tube wells was being successfully implemented, he added. He
Published 25 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Security beefed up for local bodies' polls in Faisalabad

Security beefed up for local bodies' polls in Faisalabad

Police and administration have beefed up security arrangements, especially in the 843 sensitive polling stations in Faisalabad districts out of the 2,925 polling stations for holding fair and smooth second phase local government elections in a peaceful ma
Published 25 Aug, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
25-man youth team to visit China

25-man youth team to visit China

The Ministry of Culture and Youth Affairs will send at least 25 youngsters from Pakistan to China on youth international tour. The group will comprise both male and female from each province, including five from Punjab, four from NWFP, three from AJK, one
Published 25 Aug, 2005 12:00am
LSE to remain open today

LSE to remain open today

The Lahore Stock Exchange (LSE) will remain open for routine trading on Thursday, August 25, despite of local bodies' election in the provincial capital. The decision was taken at an emergent meeting of board of directors of the exchange, held on Wednesda
Published 25 Aug, 2005 12:00am
JICA to release Rs 780 million for Lahore uplift

JICA to release Rs 780 million for Lahore uplift

Former District Nazim Lahore, Mian Amer Mahmood has said that Japan International Co-operation Agency (JICA) would release Rs 780 million grant in October this year for development projects in the provincial metropolis.
Published 25 Aug, 2005 12:00am
THE RUPEE: firm trend in open market

THE RUPEE: firm trend in open market

Firmer trend was seen in the open market on Wednesday as the rupee maintained its overnight levels versus the dollar for buying and selling at 60.05 and 60.15, dealers said. In general, improved supplies by the exporters helped the rupee to retain its ove
Published 25 Aug, 2005 12:00am
Rs 67.531 million collected by Sessi in July

Rs 67.531 million collected by Sessi in July

Sindh Employees' Social Security Institution (Sessi) collected Rs 67.531 million as Social Security contribution from 17,484 registered establishments employing 0.311 million workers during July, 2005. This was stated in a meeting held under the chairmans
Published 25 Aug, 2005 12:00am
THE RUPEE: firm trend in open market

THE RUPEE: firm trend in open market

Firmer trend was seen in the open market on Wednesday as the rupee maintained its overnight levels versus the dollar for buying and selling at 60.05 and 60.15, dealers said. In general, improved supplies by the exporters helped the rupee to retain its ove
Published 25 Aug, 2005 12:00am
NAB arrests PQA official

NAB arrests PQA official

National Accountability Bureau, Sindh, on Wednesday arrested a former project manager Port Qasim Authority (PQA) for his involvement in financial bungling resulting in a loss of Rs 350 million to the national exchequer.
Published 25 Aug, 2005 12:00am
MCB BANK LIMITED: Half Year ended June 30, 2005 (Un-audited)

MCB BANK LIMITED: Half Year ended June 30, 2005 (Un-audited)

MCB Bank Limited (Muslim Commercial Bank Limited until July 31, 2005), a banking company incorporated in Pakistan, is engaged in commercial banking and related services. MCB Bank is listed on all the stock exchanges in the country and has two wholly-owned
Published 25 Aug, 2005 12:00am
CDGK to buy fire brigade vehicles worth Rs 130 million

CDGK to buy fire brigade vehicles worth Rs 130 million

City District Government Karachi (CDGK) will purchase fire brigade vehicles worth some Rs 130 million during the current year, a meeting headed by Caretaker CDGK was told here on Wednesday. These vehicles include a snorkel worth Rs 50.5 million, 20-fire t
Published 25 Aug, 2005 12:00am
MCB BANK LIMITED: Half Year ended June 30, 2005 (Un-audited)

MCB BANK LIMITED: Half Year ended June 30, 2005 (Un-audited)

MCB Bank Limited (Muslim Commercial Bank Limited until July 31, 2005), a banking company incorporated in Pakistan, is engaged in commercial banking and related services. MCB Bank is listed on all the stock exchanges in the country and has two wholly-owned
Published 25 Aug, 2005 12:00am
KCCI body seeks government support for women entrepreneurs

KCCI body seeks government support for women entrepreneurs

Member, Women Entrepreneurs subcommittee of Karachi Chamber of Commerce and Industry (KCCI), Ms Yasmeen Hasnain, has suggested that the Minister of Women Development should divert all her efforts to provide finance to needy and poor women for small and me
Published 25 Aug, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Steps to discourage monopolistic trend in stock market urged

Steps to discourage monopolistic trend in stock market urged

The Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Akbar Abdullah, has urged the Securities and Exchange Commission of Pakistan (SECP) to introduce such reforms which would discourage the monopolistic regime in the
Published 25 Aug, 2005 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Steps to discourage monopolistic trend in stock market urged

Steps to discourage monopolistic trend in stock market urged

The Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Akbar Abdullah, has urged the Securities and Exchange Commission of Pakistan (SECP) to introduce such reforms which would discourage the monopolistic regime in the
Published 25 Aug, 2005 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
Workshop on Islamic banking

Workshop on Islamic banking

State Bank of Pakistan Governor Dr Ishrat Hussain will inaugurate two-day workshop on Islamic banking being organised by the International Credit Information Limited (ICIL) in collaboration with Moody's Investors Services on August 29, at Karachi Sheraton
Published 25 Aug, 2005 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 25 Aug, 2005 12:00am
Public holiday in 12 districts today

Public holiday in 12 districts today

Sindh Government has declared August 25 (Thursday) as public holiday in 12 districts of Sindh on the occasion of second phase of Local Government Elections.
Published 25 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 25 Aug, 2005 12:00am
All villages to have basic facilities by 2007: Arbab

All villages to have basic facilities by 2007: Arbab

Chief Minister Dr Arbab Ghulam Rahim on Wednesday said that by 2007 each village of Sindh would have potable water, health facilities, electricity, Sui gas and market to farm roads.
Published 25 Aug, 2005 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 25 Aug, 2005 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 25 Aug, 2005 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 25 Aug, 2005 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (August 24, 2005).

Published 25 Aug, 2005 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 25 Aug, 2005 12:00am
CBR exercising transparency in postings

CBR exercising transparency in postings

The Central Board of Revenue (CBR) has initiated an exercise to achieve transparency in postings of a number of officers in modern regional tax offices being set up all over the country. The posts in these offices carry double salary for the incumbents.
Published 25 Aug, 2005 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 25 Aug, 2005 12:00am
No Indian investment till resolution of core issues: BoI

No Indian investment till resolution of core issues: BoI

The Indian investment in Pakistan would not be encouraged till resolution of core political issues with them, Board of Investment Chairman Waseem Haqqie said. Talking to a private TV channel, he said business interaction between Pakistani and Indian inves
Published 25 Aug, 2005 12:00am
Army called out in Rawalpindi and Attock

Army called out in Rawalpindi and Attock

The Army troops have been called out in Rawalpindi and Attock districts to maintain law and order during the second phase of local government elections on August 25. The Election Commission has declared both districts as sensitive.
Published 25 Aug, 2005 12:00am
Boy killed after falling in drain

Boy killed after falling in drain

A 13-year-old scavenger lost his life on Wednesday noon as he slipped into sewage and filth-filled drain located around Tariq Road. He was said to be one of the four young scavengers of Afghan origin, aged between 10-13 years who while collecting garbage
Published 25 Aug, 2005 12:00am