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Print - 2005-09-20
Power failure sparks UN evacuation

Power failure sparks UN evacuation

A power outage at UN headquarters disrupted the General Assembly session here on Monday, forcing the evacuation of the main building and foreign ministers of the world's five most powerful countries to change their luncheon venue, UN officials said.
Published 20 Sep, 2005 12:00am
Power failure sparks UN evacuation

Power failure sparks UN evacuation

A power outage at UN headquarters disrupted the General Assembly session here on Monday, forcing the evacuation of the main building and foreign ministers of the world's five most powerful countries to change their luncheon venue, UN officials said.
Published 20 Sep, 2005 12:00am
Maiden tax return filer won''t be questioned

Maiden tax return filer won''t be questioned

No question will be asked about the income of the businessmen filing tax returns for the first time this year, nor would they be asked to pay tax for the past years. All returns will be accepted under the universal self-assessment scheme (USAS).
Published 20 Sep, 2005 12:00am
Maiden tax return filer won't be questioned

Maiden tax return filer won't be questioned

No question will be asked about the income of the businessmen filing tax returns for the first time this year, nor would they be asked to pay tax for the past years. All returns will be accepted under the universal self-assessment scheme (USAS).
Published 20 Sep, 2005 12:00am
Maiden tax return filer won't be questioned

Maiden tax return filer won't be questioned

No question will be asked about the income of the businessmen filing tax returns for the first time this year, nor would they be asked to pay tax for the past years. All returns will be accepted under the universal self-assessment scheme (USAS).
Published 20 Sep, 2005 12:00am
Pakistan unlikely to hang spy: Natwar

Pakistan unlikely to hang spy: Natwar

Pakistan has indicated to India it will not execute an Indian national convicted of spying and a series of bomb blasts, Indian Foreign Minister Natwar Singh said.
Published 20 Sep, 2005 12:00am
Pakistan unlikely to hang spy: Natwar

Pakistan unlikely to hang spy: Natwar

Pakistan has indicated to India it will not execute an Indian national convicted of spying and a series of bomb blasts, Indian Foreign Minister Natwar Singh said.
Published 20 Sep, 2005 12:00am
574,176 cotton bales arrive at ginneries

574,176 cotton bales arrive at ginneries

The Pakistan Cotton Ginners Association (PCGA) has released the first-ever fortnightly report of cotton crop 2005-06 showing that cotton arrival recorded at ginneries, as on September 15, stood at 574,176 bales against 1071,765 bales of the last year.
Published 20 Sep, 2005 12:00am
574,176 cotton bales arrive at ginneries

574,176 cotton bales arrive at ginneries

The Pakistan Cotton Ginners Association (PCGA) has released the first-ever fortnightly report of cotton crop 2005-06 showing that cotton arrival recorded at ginneries, as on September 15, stood at 574,176 bales against 1071,765 bales of the last year.
Published 20 Sep, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (September 19, 2005).

Published 20 Sep, 2005 12:00am
574,176 cotton bales arrive at ginneries

574,176 cotton bales arrive at ginneries

The Pakistan Cotton Ginners Association (PCGA) has released the first-ever fortnightly report of cotton crop 2005-06 showing that cotton arrival recorded at ginneries, as on September 15, stood at 574,176 bales against 1071,765 bales of the last year.
Published 20 Sep, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (September 19, 2005).
Published 20 Sep, 2005 12:00am
DHA residents' demands

DHA residents' demands

Residents of Defence Housing Authority (DHA) phase V and VI demanded early completion of work on footpaths. They charged that the pace of work of providing footpaths is very slow and specially in commercial areas of different sectors of the two phases.
Published 20 Sep, 2005 12:00am
Samsung releases SpinPoint series

Samsung releases SpinPoint series

Samsung announced the release of the second generation interface hard-drives, the SpinPoint P80 series and SpinPoint P120 series here on Monday.
Published 20 Sep, 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 Monday (September 19, 2005).

Published 20 Sep, 2005 12:00am
UK tanks smash Iraqi jail to free soldiers

UK tanks smash Iraqi jail to free soldiers

British forces used tanks to smash down the walls of a prison in the southern city of Basra and freed two undercover British soldiers seized earlier by Iraqi forces, an Interior Ministry official said on Monday.
Published 20 Sep, 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 Monday (September 19, 2005).

Published 20 Sep, 2005 12:00am
Musharraf visits Centcom

Musharraf visits Centcom

President General Pervez Musharraf visited the US Central Command headquarters, where he received a briefing about Centcom. Centcom Commander General John Abizaid briefed General Musharraf about the command's operations, which is one of the five geographi
Published 20 Sep, 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 Monday (September 19, 2005).

Published 20 Sep, 2005 12:00am
Musharraf visits Centcom

Musharraf visits Centcom

President General Pervez Musharraf visited the US Central Command headquarters, where he received a briefing about Centcom. Centcom Commander General John Abizaid briefed General Musharraf about the command's operations, which is one of the five geographi
Published 20 Sep, 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 Monday (September 19, 2005).

Published 20 Sep, 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 20 Sep, 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 20 Sep, 2005 12:00am
World Bank report paints grim picture of Pakistan's water situation

World Bank report paints grim picture of Pakistan's water situation

A latest World Bank report paints a very grim picture of water resources in Pakistan, suggests urgent construction of large and small dams, and offers $1 billion assistance. This is the nutshell of the detailed World Bank report titled 'Pakistan's Water E
Published 20 Sep, 2005 12:00am
Minister rues science and technology benefits not reaching common man

Minister rues science and technology benefits not reaching common man

Minister for science and technology Chaudhry Nouraiz Shakoor Khan on Monday said steps are being taken to establish strong linkage between commercial and research institutes to benefit the common man. He was addressing the award distribution ceremony of P
Published 20 Sep, 2005 12:00am
Action against illegal CNG makers ordered

Action against illegal CNG makers ordered

Deputy Inspector General of Police Multan Malik Muhammad Iqbal has asked all the DPOs of Multan range to take action against unauthorised manufacturers of CNG kits and also appealed to the vehicle-owners not to use any substandard and unapproved kits in t
Published 20 Sep, 2005 12:00am
Oil cake market rates

Oil cake market rates

Futures move both ways on the forward cottonseed oilcake market on Monday in the process of modest trading, dealers said. The December vaida commenced with modest gain of 40 paisa at Rs 415.90. Later, it picked up 10 paia to be day's best at Rs 416.00. In
Published 20 Sep, 2005 12:00am
Cotton prices drift downwards despite strong buying

Cotton prices drift downwards despite strong buying

Strong buying was seen on the cotton market on Monday as spinners were active in the absence of clear cut report about the size of cotton production for current season, relevant sources said. The official spot rate remained unchanged at Rs 2150 for 2005-0
Published 20 Sep, 2005 12:00am
London cocoa ends lower

London cocoa ends lower

London cocoa futures closed lower on Monday, weakened by speculative selling but industry buying helped the market to stage a modest rally from earlier contract lows, dealers said.
Published 20 Sep, 2005 12:00am
Prices almost unchanged

Prices almost unchanged

Steady trend prevailed on the grain market on Monday as most the commodities maintained their overnight levels, dealers said. On the cereals side, guwar low type shed Rs 25 to Rs 1875 while the better type did not show any change at Rs 2000 for all statio
Published 20 Sep, 2005 12:00am
Spain revises up wheat crop estimate

Spain revises up wheat crop estimate

Spain's Agriculture Ministry has slightly increased its estimate for this year's drought-stricken wheat and barley crop but trimmed its estimate for the maize harvest, the latest data showed on Monday.
Published 20 Sep, 2005 12:00am
Ukraine plans to boosts wheat exports

Ukraine plans to boosts wheat exports

Ukraine, which plans to increase wheat exports to about five million tonnes in 2005/06, boosted seaport wheat shipments by 80 percent in the September 1-10 period to 163,300 tonnes, analysts said on Monday.
Published 20 Sep, 2005 12:00am
US Midwest bids for corn and soyabean stronger

US Midwest bids for corn and soyabean stronger

Spot basis bids for corn and soyabean were stronger at river locations in the US Midwest on Monday because of cheaper barges while interior bids were steady to weaker as dealers were seeing freshly harvested crops move into elevators.
Published 20 Sep, 2005 12:00am
HRW wheat basis offers steady

HRW wheat basis offers steady

Hard red winter wheat spot basis offers were steady in the US Plains on Monday and cash movement remained mostly light in the country despite a run-up in Kansas City wheat futures last week, dealers said. "There has been some selling, but not a lot," one
Published 20 Sep, 2005 12:00am
European Nickel raises Turkish mine reserves

European Nickel raises Turkish mine reserves

London-listed miner European Nickel Plc said on Monday mineable reserves at its nickel project in Turkey had increased almost 30 percent, boosting planned metal output by 40 percent. European Nickel said reserves at its Caldag mine in western Turkey had r
Published 20 Sep, 2005 12:00am
Indian coffee output seen hit by pests, rains

Indian coffee output seen hit by pests, rains

India's coffee output in the year to September 2006 is likely to be about five percent lower than an earlier estimate of 294,000 tonnes because of pest attacks and excess rainfall, the head of the state-run Coffee Board said on Monday.
Published 20 Sep, 2005 12:00am
Thai sugar trade expected to stay sluggish

Thai sugar trade expected to stay sluggish

Thai sugar trade is expected to stay sluggish over the next few days as new offers remain thin, traders said on Monday. Raw sugar premiums for May-July 2006 shipment were offered at 115 points over the New York Board of Trade raw sugar futures price witho
Published 20 Sep, 2005 12:00am
Indonesian cocoa exports down

Indonesian cocoa exports down

Cocoa bean exports from Indonesia's main growing area in the south of Sulawesi island fell 6.33 percent to 17,025 tonnes in August. Exports for January-August dropped 10 percent to 116,957 tonnes, according to data from the Indonesian Cocoa Association.
Published 20 Sep, 2005 12:00am
CIF Gulf corn soft; soya, wheat steady

CIF Gulf corn soft; soya, wheat steady

US CIF Gulf corn basis offers were steady to lower on Monday amid slow exporter demand, while soyabeans were mostly steady. Traders said barge freight was lower as the market eased from record highs posted in recent weeks amid tight supplies of empty vess
Published 20 Sep, 2005 12:00am
EU experts fail to agree on latest GMO approval

EU experts fail to agree on latest GMO approval

EU environment experts failed to agree on authorising imports of a genetically modified (GMO) maize hybrid on Monday, again exposing the bloc's deep-seated divisions over biotech foods, an official said on Monday.
Published 20 Sep, 2005 12:00am
NOL moves 10 percent more cargo in August

NOL moves 10 percent more cargo in August

Singapore's Neptune Orient Lines, the world's sixth-biggest container shipping line, carried 10 percent more cargo on its ships in August than a year earlier, it said on Monday, helped by a boom in global trade.
Published 20 Sep, 2005 12:00am
Singapore bunker fuel prices weaker

Singapore bunker fuel prices weaker

Singapore bunker prices eased on Monday in line with weaker outright cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $312-$314 a tonne, down $5 from Friday's close. Prices for 180-cst bunker fuel were at $327-329 a tonne, down $8
Published 20 Sep, 2005 12:00am
Ivorian cocoa arrivals down

Ivorian cocoa arrivals down

Cocoa arrivals at Ivory Coast's port of San Pedro reached 522,899 tonnes between October 1 and September 3 this year, according to data from the Coffee and Cocoa Bourse (BCC) obtained by Reuters on Monday.
Published 20 Sep, 2005 12:00am
Shanghai gold exchange plans night trade

Shanghai gold exchange plans night trade

The Shanghai Gold Exchange plans to launch evening gold trade in southern China in the fourth quarter of this year, to allow domestic firms to trade the precious metal when London and US markets are open.
Published 20 Sep, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 85,756 tonnes of cargo including 72,831 tonnes import and 12,925 tonnes export cargo including 3,207 containers during last 24 hours ending at 0700 hours on Monday.
Published 20 Sep, 2005 12:00am
China 2006 grain quotas

China 2006 grain quotas

China on Monday announced steady 2006 quotas for farm commodity imports subject to low tariffs as part of its agreements on joint the World Trade Organisation. The country would allow up to 9.636 million tonnes of wheat to enter at the low tariff rate in
Published 20 Sep, 2005 12:00am
Malaysian tin down 3 percent to new 19-month lows

Malaysian tin down 3 percent to new 19-month lows

Tin slipped to new 19-month lows in Malaysian trade on Monday, falling more sharply than it did at last week's close in London in an attempt to trim a yawning freight premium to Europe, dealers.
Published 20 Sep, 2005 12:00am
Shanghai copper falls with LME but spot rises

Shanghai copper falls with LME but spot rises

Shanghai copper futures fell on Monday but backwardation widened sharply and spot prices gained, as traders anticipated that supplies of the metal would tighten.
Published 20 Sep, 2005 12:00am
Copper steady amid quiet holiday trade in Asia

Copper steady amid quiet holiday trade in Asia

London Metal Exchange copper prices were mostly steady in Asia on Monday amid subdued trade due to holidays in key markets, traders said. Market holidays in Japan, Hong Kong and South Korea slowed trade as some questioned whether funds had lost confidence
Published 20 Sep, 2005 12:00am
Gold trades near 17-year peak in Asian trade

Gold trades near 17-year peak in Asian trade

Gold opened steady on Monday in Sydney, holding near last week's 17-year peak of $460.10 an ounce as inflation worries and strong demand from jewellery makers put fresh polish on bullion's image among investors.
Published 20 Sep, 2005 12:00am
Thai rice futures end mostly flat

Thai rice futures end mostly flat

Thai rice futures ended mostly steady on Monday, but tight supply is likely to push prices higher over the next few days, brokers said. Overall volume rose as 108 contracts of 5 percent white rice changed hands compared to Friday's 20 with the most active
Published 20 Sep, 2005 12:00am
Oil prices blown higher by fresh hurricane fears

Oil prices blown higher by fresh hurricane fears

Oil prices jumped more than one percent on Monday as a new storm system appeared headed toward the US Gulf Coast, overshadowing mixed signals about a potential increase in crude supply from Opec.
Published 20 Sep, 2005 12:00am
Australia losing by not growing GMO canola

Australia losing by not growing GMO canola

Moratoriums on the production of commercial genetically modified canola in Australia could cost farmers A$3 billion ($2.3 billion) over the next 10 years, a study by a government agency on Monday said. The study was carried out by the Australian Bureau of
Published 20 Sep, 2005 12:00am
Bangladesh enacts law to curb foul food

Bangladesh enacts law to curb foul food

Bangladesh, in an effort to curb the huge amount of tampered and unsafe food in the country, passed a law on Monday threatening up to three years' jail and a 300,000-taka ($4,575) fine for anyone selling it.
Published 20 Sep, 2005 12:00am
Japan to release feed grains on US supply concerns

Japan to release feed grains on US supply concerns

Japan said on Monday it would release corn and barley for animal feed from its stockpiles starting in October on concern over a delay in shipments and a rise in prices after Hurricane Quatrain struck the US Gulf.
Published 20 Sep, 2005 12:00am
India's 2005-06 rubber output seen up

India's 2005-06 rubber output seen up

India's rubber output is expected to rise 4.1 percent to 780,000 tonnes in the year to March 2006 on favourable weather and expansion in cultivation area, the chairman of the state-run Rubber Board said on Monday.
Published 20 Sep, 2005 12:00am
China approves new GMO cotton to raise output

China approves new GMO cotton to raise output

China, the world's top grower of genetically modified (GMO) cotton, has approved commercialising a new hybrid variety, which should help the country cut its production shortfall in the commodity, a government scientist said on Monday.
Published 20 Sep, 2005 12:00am
Malaysian palm oil up on export hopes, soya

Malaysian palm oil up on export hopes, soya

Malaysian palm oil rose one percent on Monday, with the benchmark futures contract firmly crossing the 1,400-ringgit barrier on confidence over exports after key buyer India cut base import prices. A slight rebound in electronic Chicago soyoil futures tra
Published 20 Sep, 2005 12:00am
Warsaw bourse hits record high ahead of elections

Warsaw bourse hits record high ahead of elections

The Warsaw bourse's key WIG 20 index closed at a record high on Monday as expectations of a centre-right victory in elections next Sunday and a healthy economy sparked buying by foreign and local investors.
Published 20 Sep, 2005 12:00am
Nike profit beats forecasts

Nike profit beats forecasts

Nike Inc, the world's largest athletic shoe maker, posted a bigger-than-expected 32 percent jump in quarterly profit on Monday on strong sales in the key US footwear market, pushing its stock higher.
Published 20 Sep, 2005 12:00am
Nike profit beats forecasts

Nike profit beats forecasts

Nike Inc, the world's largest athletic shoe maker, posted a bigger-than-expected 32 percent jump in quarterly profit on Monday on strong sales in the key US footwear market, pushing its stock higher.
Published 20 Sep, 2005 12:00am
Two former Tyco executives get up to 25 years

Two former Tyco executives get up to 25 years

Dennis Kozlowski and Mark Swartz, former Tyco International Ltd top executives who were found guilty of stealing more than $150 million from the company, were each sentenced on Monday to up to 25 years in prison.
Published 20 Sep, 2005 12:00am
Norsk Hydro to buy Spinnaker for $2.45 billion

Norsk Hydro to buy Spinnaker for $2.45 billion

Norwegian energy and aluminium group Norsk Hydro has agreed to buy US Spinnaker Exploration Co for $2.45 billion in cash to expand oil and gas output and add potential for new discoveries, it said on Monday.
Published 20 Sep, 2005 12:00am
EU trade chief calls for consensus for global talks

EU trade chief calls for consensus for global talks

The EU's trade chief, trying to get member countries behind him for global talks, said Europe could not hide from free trade, but he pledged to heed the concerns of farmers and business about a more competitive world.
Published 20 Sep, 2005 12:00am
Western banks to lend Gazprom $12 billion

Western banks to lend Gazprom $12 billion

Russian gas monopoly Gazprom won agreement on Monday from Western banks on a record $12 billion loan to fund its take-over of Sibneft, the oil firm controlled by Chelsea soccer club owner Roman Abramovich.
Published 20 Sep, 2005 12:00am
Asian workers protest over lack of pay in Dubai

Asian workers protest over lack of pay in Dubai

Hundreds of Asian workers building a luxury development in Dubai demonstrated Monday to protest over months of unpaid wages, highlighting the plight of low-paid expatriate labourers in the oil-rich Gulf region.
Published 20 Sep, 2005 12:00am
World's dependency on Opec oil to grow: IEA

World's dependency on Opec oil to grow: IEA

The world's dependency on Opec oil will grow as non-Opec production is expected to hit a ceiling just after 2010, International Energy Agency (IEA), the West's energy watchdog has forecast.
Published 20 Sep, 2005 12:00am
Siemens to cut 2,400 German jobs; dissolves logistics

Siemens to cut 2,400 German jobs; dissolves logistics

German industrial group Siemens said on Monday it planned far-reaching cuts including axing 2,400 jobs in Germany as it showed commitment to a goal of making all its businesses profitable by 2007.
Published 20 Sep, 2005 12:00am
Up to $1 billion plundered from Iraqi funds: minister

Up to $1 billion plundered from Iraqi funds: minister

Large-scale corruption in Iraq's ministries, particularly the defence ministry, has led to one of the biggest thefts in history with more than $1 billion going missing, Iraq's finance minister said in an interview.
Published 20 Sep, 2005 12:00am
China aims for stable yuan and monetary policy

China aims for stable yuan and monetary policy

China's central bank pledged on Monday to keep the newly unshackled yuan basically stable but urged fresh efforts to wean the economy off export-driven growth.
Published 20 Sep, 2005 12:00am
Bush hopes Opec will increase supply

Bush hopes Opec will increase supply

President George W. Bush said on Monday he hoped Opec producers would get more supply to the market in order to relieve the high price of gasoline.
Published 20 Sep, 2005 12:00am
Opec favouring no change in oil output

Opec favouring no change in oil output

Opec producers on Monday looked set to postpone action on extra crude supply, falling short of expectations among some consumer countries for immediate relief from fuel price inflation.
Published 20 Sep, 2005 12:00am
Malaysian shares soar

Malaysian shares soar

Malaysian share prices closed 0.14 percent higher on Monday, managing a marginal gain in the absence of any fresh lead, dealers said.
Published 20 Sep, 2005 12:00am
Jakarta shares jump

Jakarta shares jump

Indonesian share prices closed 0.93 percent higher on Monday on a technical rebound in blue chips such as Telkom but trade was subdued as investors waited to see if the US Federal Reserve hikes interest rates again at its meeting Tuesday, dealers said.
Published 20 Sep, 2005 12:00am
Taiwan stocks flat; banks drag down tech bounce

Taiwan stocks flat; banks drag down tech bounce

Taiwan stocks ended little changed in sluggish trade on Monday with weak banking shares offsetting a modest rebound in tech issues like AU that had pushed the market down to a 3-1/2 month low close last week.
Published 20 Sep, 2005 12:00am