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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-10-12
Indian rupee remains down

Indian rupee remains down

The rupee fell for a third straight session on Tuesday, dropping 0.25 percent to its lowest close in 10-1/2 months as foreign funds and importers bought up dollars on the expectation it would weaken further.
Published 12 Oct, 2005 12:00am
Sterling hits 10-week low

Sterling hits 10-week low

Sterling hit its lowest level since late July against a rallying dollar on Tuesday with growing expectations for a Bank of England interest rate cut sooner rather than later.
Published 12 Oct, 2005 12:00am
Dollar steadies versus majors

Dollar steadies versus majors

The dollar was well supported ahead of publication of US Federal Reserve minutes on Tuesday, hitting a 10-week high versus sterling and hovering near last week's 16-month highs against the yen.
Published 12 Oct, 2005 12:00am
Rainfall benefits Cuba's sugar crop

Rainfall benefits Cuba's sugar crop

Above-average rainfall during the last two months broke a drought that decimated Cuba's sugar crop, creating conditions for a better performance in 2006/2007, official media and local experts said Monday.
Published 12 Oct, 2005 12:00am
Biotech crops boost global farm income

Biotech crops boost global farm income

Biotech crops have boosted global farm income by nearly $28 billion and reduced the use of pesticides that can damage the environment, according to a study of genetically modified crops released on Tuesday.
Published 12 Oct, 2005 12:00am
Oil prices rise after global forecast

Oil prices rise after global forecast

World oil prices rose sharply Tuesday after the International Energy Agency made a smaller-than-expected downward revision to global energy demand growth, analysts said. New York's main contract, light sweet crude for delivery in November, jumped 1.73 dol
Published 12 Oct, 2005 12:00am
Iran secures loan to lift aluminium exports

Iran secures loan to lift aluminium exports

Iran said on Monday it had secured a $100 million syndicated loan with Britain's Standard Chartered Plc to lift aluminium exports. "We got a loan facility of $100 million from Standard Chartered Bank. We have brought in an offtaker committed to buy 2,200
Published 12 Oct, 2005 12:00am
New York cotton futures shade lower

New York cotton futures shade lower

Cotton futures finished slightly easier Tuesday on modest speculative and commercial sales as the market braced for release of a key government crop report this week, brokers said.
Published 12 Oct, 2005 12:00am
Liffe coffee jumps

Liffe coffee jumps

London coffee futures rose to the highest in almost a month on Tuesday as concerns about supplies in hurricane-stricken Latin America triggered fund buying, traders said. Hurricane Stan has hit coffee crops in Central America and southern Mexico but so fa
Published 12 Oct, 2005 12:00am
Copper touches new peak

Copper touches new peak

Copper ended higher on the London Metal Exchange (LME) on Tuesday touching a new record on gains from a fund-driven rally that has added almost five percent to prices in the past couple of weeks.
Published 12 Oct, 2005 12:00am
Platinum aims at 25-1/2-year peak

Platinum aims at 25-1/2-year peak

Platinum climbed in Europe on Tuesday and targeted a 25-1/2-year high level as speculators continued to buy the metal, used mainly in jewellery and to clean car exhaust fumes.
Published 12 Oct, 2005 12:00am
US MIDDAY: coffee rises on speculative buying

US MIDDAY: coffee rises on speculative buying

US benchmark coffee futures rose nearly 2 percent to just above $1 a lb on Tuesday, extending the previous session's gains of 4 percent amid follow-through fund and speculative buying, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: cocoa mixed in quiet trading

US MIDDAY: cocoa mixed in quiet trading

US cocoa futures prices settled narrowly mixed in quiet trading Tuesday, as top cocoa producer Ivory Coast set a farmgate price for newly harvested beans to be sold in the market, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: sugar at fresh highs on speculative buying

US MIDDAY: sugar at fresh highs on speculative buying

Raw sugar prices ended Tuesday at their highest level since early in 1998 on a barrage of fund and speculative buying, with the bullish mood seen shoving the market to the psychologically key 12 cents a lb level soon, brokers said.
Published 12 Oct, 2005 12:00am
US MIDDAY: corn moves up on light short covering

US MIDDAY: corn moves up on light short covering

Corn futures were firm early on Tuesday on light short covering ahead of the release early Wednesday of USDA's October crop production and supply/demand reports, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: wheat firmer on export prospects

US MIDDAY: wheat firmer on export prospects

Wheat futures on the Chicago Board of Trade were firm early on Tuesday on bullish export prospects, but fund-selling knocked values off their morning highs, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: copper sets new highs on new high contracts

US MIDDAY: copper sets new highs on new high contracts

US copper futures opened higher in quiet business Tuesday and managed to climb to new contract highs, though a lack of volume created more volatility and exaggerated the spike in prices, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: soyabeans rally on November contract

US MIDDAY: soyabeans rally on November contract

Soyabean futures at the Chicago Board of Trade rebounded early Tuesday, after a steep slide the preceding day, amid harvest of a large US soya crop, traders said.
Published 12 Oct, 2005 12:00am
US MIDDAY: gold forges higher on geopolitical concerns

US MIDDAY: gold forges higher on geopolitical concerns

US gold futures rose early Tuesday as the market consolidated near an 18-year peak, with bullish speculators still lifting prices despite a strong dollar and crude oil well off recent highs, dealers said.
Published 12 Oct, 2005 12:00am
LCCI collects Rs 3.5 million donation

LCCI collects Rs 3.5 million donation

The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday collected donations for Rs 3.5 million for the victims of devastating earthquake.
Published 12 Oct, 2005 12:00am
SCCI to donate Rs 10 million to relief fund

SCCI to donate Rs 10 million to relief fund

The Sialkot Chamber of Commerce and Industry (SCCI) is taking numerous measures to contribute towards the national crusade to help the victims of devastating earthquake in the country, said SCCI's acting President Faisal Mehmood Khan.
Published 12 Oct, 2005 12:00am
DUHS forms medical teams for quake-hit areas

DUHS forms medical teams for quake-hit areas

The Vice Chancellor, Dow University of Health Sciences, Professor Masood Hameed Khan here Monday announced an elaborate program to reinforce the relief operations and constituted medical teams to help the earthquake victims.
Published 12 Oct, 2005 12:00am
Earthquake victims airlifted to CMH Gujranwala

Earthquake victims airlifted to CMH Gujranwala

As many as 172 earthquake wounded people of Bala Kot, Rawala Kot, Bagh and Muzaffarabad were airlifted to CMH Gunjranwala for treatment on Tuesday. Army doctors operated 103 seriously injured persons and now they are stable. The condition of 20 injured pe
Published 12 Oct, 2005 12:00am
PMA sends doctors' team, relief goods to Mansehra

PMA sends doctors' team, relief goods to Mansehra

Pakistan Medical Association is extremely grateful to the doctors' community and medical students all over the country, who are working hard to collect medicine, tents, blankets, milk, water and other life-saving materials. PMA is also thankful to general
Published 12 Oct, 2005 12:00am
AKUH sends two teams to quake-hit areas

AKUH sends two teams to quake-hit areas

Aga Khan University Hospital (AKUH) has sent two teams consisting of eight doctors and three nursing technicians along with medicine supplies to help victims of the catastrophic earthquake that has struck northern areas of Pakistan.
Published 12 Oct, 2005 12:00am
Risk of epidemic in Muzaffarabad

Risk of epidemic in Muzaffarabad

Medical organisation Medecins Sans Frontieres (MSF) warned on Tuesday that there was a risk of an epidemic of water borne diseases in Muzaffarabad, the quake-devastated capital of Azad Kashmir.
Published 12 Oct, 2005 12:00am
Two medical teams leave for Mansehra and Muzaffarabad

Two medical teams leave for Mansehra and Muzaffarabad

Two medical teams equipped with necessary medicine, food, vaccines, gloves, tents and masks were sent to Mansehra and Muzafarabad to provide relief to affected people in the badly affected areas of Shinkiari, Ghari Habib Ullah, Bagh and Rawalakot.
Published 12 Oct, 2005 12:00am
Lahore doctors team leaves for AJK and Northern Areas

Lahore doctors team leaves for AJK and Northern Areas

Like other segments of society, doctors community is keen to devote all its energies for rehabilitation of earthquake victims, and several teams of doctors from different teaching hospitals have already left for calamity-hit areas in Azad Kashmir and Nort
Published 12 Oct, 2005 12:00am
Corrigendum

Corrigendum

'A review of Habib Bank Ltd's annual report for 2004: Advances outpace interest income' published on 11th October, 2005 on Page 21 of Business Recorder was contributed by A.M. Talha. The name of the wrtier was Omitted due to a computer glitch.
Published 12 Oct, 2005 12:00am
Union Bank and Arabian Sea sign pact

Union Bank and Arabian Sea sign pact

The Union Bank American Express Cards and Arabian Sea Country Club have signed an agreement, according to which the card members will be able to purchase a full family membership or corporate membership of the Country Club and pay in easy monthly instalme
Published 12 Oct, 2005 12:00am
Proper management of mental health problems stressed

Proper management of mental health problems stressed

Proper understanding coupled with modified attitude towards biological, emotional and psychiatric condition of all age groups, right from children to adolescent and adult to elderly, was recommended to help ensure stable mental health status ultimately le
Published 12 Oct, 2005 12:00am
Killing innocent people

Killing innocent people

The attack on Ahmedis religious place Bait-ul-Ziker in Mandi Bahauddin has once again proved that intolerance and sectarianism still prevails in our society.
Published 12 Oct, 2005 12:00am
Earthquake victims

Earthquake victims

An earthquake of severe intensity rocked Islamabad, NWFP, Punjab, Azad Kashmir and parts of Balochistan on the morning of 8th October. Nature with all its fury had shaken this country, but unfortunately Islamabad was caught sleeping.
Published 12 Oct, 2005 12:00am
Childhoods lost in Philippine jails

Childhoods lost in Philippine jails

At age 14, Christian was taken to a city jail in the Philippines on charges of selling and using a powerful methamphetamine known as "shabu". Nearly three years later, he is still in a cell, smaller than a boxing ring, with 28 other youths awaiting a verd
Published 12 Oct, 2005 12:00am
Aid cash competition leads to 'development pornography'

Aid cash competition leads to 'development pornography'

The growth in the number of aid agencies trying to persuade a reluctant public to part with its cash has led to a resurgence in shocking poster tactics that critics call "development pornography".
Published 12 Oct, 2005 12:00am
Oil stockpiling: A cure for price hike in Asian economies

Oil stockpiling: A cure for price hike in Asian economies

First Katrina and then Rita, both abolished the foundations of the Gulf of Mexico and New Orleans with Katrina attributed to some 200,000 jobless claims and for gasoline prices briefly touching $5/US gallon ($1.30/L), which would be the highest real price
Published 12 Oct, 2005 12:00am
HBFC corporatisation

HBFC corporatisation

The House Building Finance Corporation is reported to be pursuing a bold corporatisation plan to enhance its activities in the financial sector, for which it has set targets to be achieved in four quarters, between July-September 2005 and April-June 2006.
Published 12 Oct, 2005 12:00am
ADB's Economic Update

ADB's Economic Update

The Economic Update of Asian Development Bank (ADB), released on 4th October and covering medium-term outlook for the economy, is largely realistic and gives a good measure of food for thought to the economic managers of the country.
Published 12 Oct, 2005 12:00am
Punjab Assembly meets today

Punjab Assembly meets today

Punjab Assembly, in its 22nd session here on Wednesday would take up two bills, One seeking amendments in the Bank of Punjab Act and the other about the tendentious issue of registration of Madaris.
Published 12 Oct, 2005 12:00am
350 quake victims shifted to Multan hospitals

350 quake victims shifted to Multan hospitals

Emergency was declared in all the hospitals of Punjab province where injured persons were being brought from quake-hit areas of Azad Kashmir and the influx of patients was increasing by every passing moment, informed Professor Dr Shabbir Nasir principal o
Published 12 Oct, 2005 12:00am
Consultations on Labour Protection Policy in concluding phase

Consultations on Labour Protection Policy in concluding phase

The consultative process initiated by the Ministry of Labour, Manpower and Overseas Pakistanis (MoLM&OP) in collaboration with the Small and Medium Enterprise Development Authority (Smeda), on Labour Protection Policy would enter into the concluding phase
Published 12 Oct, 2005 12:00am
Government urged to introduce business-friendly diplomacy

Government urged to introduce business-friendly diplomacy

The Central Chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea), Ijaz A. Khokhar has urged the government to introduce the business-friendly diplomacy and discourage the exports of raw materials by focusing on value-ad
Published 12 Oct, 2005 12:00am
PITAC recaptures private sector customers

PITAC recaptures private sector customers

The ongoing restructuring of Pakistan Industrial Technical Assistance Center (PITAC) has started yielding positive results in terms of expansion of clientele base and revenue generation.
Published 12 Oct, 2005 12:00am
Shopkeepers booked

Shopkeepers booked

Punjab Commerce Minister Muhammad Ajmal Cheema said here on Tuesday that the provincial government has taken immediate measures for reduction of prices of commodities at Utility Store chains in the province.
Published 12 Oct, 2005 12:00am
Umar appointed LTU director general

Umar appointed LTU director general

Umar Farooq, an experienced grade-21 officer of the Customs & Excise Group has been appointed as new Director General Large Taxpayers Unit (LTU), Lahore.
Published 12 Oct, 2005 12:00am
Al-Khidmat relief camp starts operation

Al-Khidmat relief camp starts operation

Al-Khidmat Foundation Relief Base Camp set up in NWFP at Mansehra has started large-scale relief operation. Meanwhile, Jamaat-i-Islami Ameer Qazi Hussain Ahmed dashed to Islamabad for onward visit to affected areas to inspect relief work carried out under
Published 12 Oct, 2005 12:00am
Forest department encouraging private sector: minister

Forest department encouraging private sector: minister

Provincial Minister for Forests, Dr Ashfaqur Rehman, has said that Forest Department is encouraging private sector in various projects of the plantation and technical assistance and other facilities are being provided free of cost for this purpose.
Published 12 Oct, 2005 12:00am
The Weather

The Weather

The weather report on Tuesday (October 11, 2005) and the forecast for Wednesday (October 12, 2005).
Published 12 Oct, 2005 12:00am
Call for playing due role in relief operations

Call for playing due role in relief operations

The Pakistan Muslim League-Nawaz (PML-N) has appealed to activists of political and social organisations to come forward and play their role in the immediate task of relief and rescue operations for the recovery of affected persons trapped under the debri
Published 12 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 12 Oct, 2005 12:00am
APHC to observe mourning day on October 14

APHC to observe mourning day on October 14

In Indian occupied Kashmir, APHC Chairman, Mirwaiz Umar Farooq on Tuesday announced observance of mourning day on Friday, over the huge losses in life and property suffered by the people of Azad Jammu and Kashmir and Pakistan, in the wake of devastating e
Published 12 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 12 Oct, 2005 12:00am
Injured survivors in AJK, Hazara may die of hunger

Injured survivors in AJK, Hazara may die of hunger

Thousands of people are still trapped in the debris of collapsed houses and thousands more, who survived the October 8 catastrophe, may die of hunger, thirst and injuries as most of the hilly areas of Azad Kashmir and Hazara division remained inaccessible
Published 12 Oct, 2005 12:00am
Key stock market movements at 1700 GMT on October 11

Key stock market movements at 1700 GMT on October 11

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 12 Oct, 2005 12:00am
Foreign ministry donates Rs 2 million

Foreign ministry donates Rs 2 million

The employees of the ministry of foreign affairs have donated Rs two million towards the President's Earthquake Relief Fund from their common welfare fund, a ministry press release said on Tuesday. The officers and staff of the foreign ministry will also
Published 12 Oct, 2005 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

As an inquisitive hack I would often wonder at the growing number of Pajeros and Land Cruisers bearing Azad Kashmir number plates on the roads of Islamabad.
Published 12 Oct, 2005 12:00am
Relief goods donations pouring in

Relief goods donations pouring in

The government and private organizations are pouring generous donations for relief efforts in the deadliest earthquake affected areas. People working in ministries, private corporations and other institutions have pledged hefty donations for the affectees
Published 12 Oct, 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 12 Oct, 2005 12:00am
National Assembly urges world community to extend more help

National Assembly urges world community to extend more help

The National Assembly in a resolution on Tuesday condoled with earthquake victims and urged the world community to extend financial and technical assistance for the rescue of thousands of men, women and children in Mansehra, Balakot, Azad Kashmir and else
Published 12 Oct, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
IBA to train CBR officials: agreement signed

IBA to train CBR officials: agreement signed

The Central Board of Revenue (CBR) and Institute of Business Administration (IBA), Karachi, have signed an agreement for training all CBR officials of BS-17 to BS-21 for improving their efficiency under the restructuring plan.
Published 12 Oct, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (October 11, 2005) and Wednesday (October 12, 2005)
Published 12 Oct, 2005 12:00am
Labour complex construction in the offing

Labour complex construction in the offing

Punjab Labour Department would soon establish a well equipped ultramodern Labour Complex at Chawinda-Pasrur for providing the better basic amenities to the local labourers and workers at local level with a total cost of Rs 110 million through Workers Welf
Published 12 Oct, 2005 12:00am
Productivity of agriculture sector in Punjab low

Productivity of agriculture sector in Punjab low

Productivity of the agricultural sector in Punjab is low in terms of efficiency of use of resources and inputs, and the rate of TFP growth at 1.5 percent has been lower than in other countries and regions experiencing rapid technological transformation, s
Published 12 Oct, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
Iranian consul general grieved

Iranian consul general grieved

The Consul General of Islamic Republic of Iran in Pakistan H E Syed Mousa Hussaini will address on Wednesday a press conference at 3:00 pm at the Iranian Consulate General here.
Published 12 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
Khamenei saddened over quake losses

Khamenei saddened over quake losses

The leader of the Islamic Revolution in Iran, Ayatollah Khamenei, has expressed his deep condolence and sympathies to the people and the government of Pakistan over the devastating earthquake that killed thousands and rendered many homeless.
Published 12 Oct, 2005 12:00am
Donation cells set up

Donation cells set up

Special cells have been established by the government for collection of donations in cash, medicines, food items and for co-ordination of Non Governmental Organisation (NGOs) activities in the earthquake hit areas of the NWFP and Northern Areas. The name
Published 12 Oct, 2005 12:00am
Grandmother survives 3 days in quake ruins

Grandmother survives 3 days in quake ruins

Rescued survivor Khalida Bibi is greeted by her grandson Talha and son Mamoon on arrival at the Pakistan Institute of Medical Sciences here, on Tuesday.
Published 12 Oct, 2005 12:00am
HEC to hire 300 foreign faculty members each year

HEC to hire 300 foreign faculty members each year

Higher Education Commission is implementing a unique programme to hire 300 foreign faculty members each year for the next 5 years to fill the vast gap of qualified research academics and Ph.D. supervisors in the higher education sector in Pakistan.
Published 12 Oct, 2005 12:00am
Punjab sends 42 trucks of relief goods to AJK and NWFP

Punjab sends 42 trucks of relief goods to AJK and NWFP

Forty-eight trucks of relief goods donated by Punjab government for the earthquake victims of Azad Kashmir and NWFP left here on Tuesday. Provincial Minister for Chief Minister's Inspection Team Colonel Shuja Khanzada (Retd) from Nasirbagh dispatched the
Published 12 Oct, 2005 12:00am
Putin condoles with Musharraf

Putin condoles with Musharraf

Russian President Vladimir Putin has expressed his condolences and sorrow over loss of lives and destruction in the weekend's earthquake in a message addressed to President General Pervez Musharraf.
Published 12 Oct, 2005 12:00am
Bangladesh to send relief goods

Bangladesh to send relief goods

Bangladesh will send 20,000 blankets, clothes and medicines to earthquake victims in Pakistan, an official said on Tuesday. "The Prime Minister (Khaleda Zia) has instructed the food and disaster management ministry to send the relief materials immediately
Published 12 Oct, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
Relief activities gaining momentum in Punjab

Relief activities gaining momentum in Punjab

Relief activities in the Punjab province have gained momentum as a large number of social, political, religious and welfare organisations set up relief camps across the province to collecting commodities for earthquake victims.
Published 12 Oct, 2005 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Tuesday (October 11, 2005).

Published 12 Oct, 2005 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 12 Oct, 2005 12:00am
Musharraf appeals to expatriates for donations

Musharraf appeals to expatriates for donations

President General Pervez Musharraf has appealed to expatriate Pakistani businessmen to come forward with generous contributions to the country's gigantic rescue and relief efforts in the wake of Saturday's massive earthquake.
Published 12 Oct, 2005 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 12 Oct, 2005 12:00am
ISPR media centre

ISPR media centre

Inter Services Public Relations (ISPR) has established a media centre at the PAF Base Chaklala working round the clock as rescue teams from abroad along with relief goods, experts and equipment are arriving there and Islamabad International Airport, says
Published 12 Oct, 2005 12:00am
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