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Sep 19, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-10-19
Seoul shares gain

Seoul shares gain

Seoul shares finished firmer on Tuesday, snapping a four-day losing streak, as Kookmin Bank and other financials gained amid hopes solid earnings in the sector would offset a string of disappointing results from tech firms.
Published 19 Oct, 2005 12:00am
UK's top share index falls as inflation fears grow

UK's top share index falls as inflation fears grow

Britain's FTSE 100 index closed lower on Tuesday as inflation concerns grew in the United States, oil prices fell and shares in AstraZeneca slid after a rival said it was planning a cheap copy of its top-selling drug.
Published 19 Oct, 2005 12:00am
USDA drops plan to close 30 percent of local offices

USDA drops plan to close 30 percent of local offices

The US Agriculture Department said it dropped a plan to close 30 percent of its local offices that run the US farm program on Wednesday, less than a month after the much-criticised plan was made public.
Published 19 Oct, 2005 12:00am
India seen okaying GMO mustard and rice

India seen okaying GMO mustard and rice

India, where genetically modified (GM) cotton has been a big hit with farmers, is expected to approve transgenic mustard and rice crops within the next few years, a biotech expert said on Tuesday.
Published 19 Oct, 2005 12:00am
EU links farm openings to services, manufacturing

EU links farm openings to services, manufacturing

The European Union is prepared to open its markets to more farm imports if other countries agree to drop barriers to trade in manufacturing and services, a top European official said on Tuesday.
Published 19 Oct, 2005 12:00am
Oil slides as Wilma supply threat eases

Oil slides as Wilma supply threat eases

Oil dropped more than a dollar on Tuesday as Hurricane Wilma was expected to steer clear of US rigs and refineries and the world's top banker said record prices were eroding demand.
Published 19 Oct, 2005 12:00am
Soyabean rust found

Soyabean rust found

The yield-cutting soyabean rust fungus was discovered in two more Georgia counties, the US Agriculture Department said Tuesday on its rust-monitoring Web site.
Published 19 Oct, 2005 12:00am
New York cotton finishes softer

New York cotton finishes softer

Cotton futures settled easier Tuesday on trade sales and speculative profit-taking from players who had recently run the market up to its highest level since early July, brokers said.
Published 19 Oct, 2005 12:00am
London sugar higher

London sugar higher

London white sugar futures reversed early losses and closed higher on speculative buying on Tuesday as the market tracked the rise in New York raw sugar futures, traders said.
Published 19 Oct, 2005 12:00am
Copper slightly up

Copper slightly up

Copper prices ended slightly higher in floor trading on the London Metal Exchange on Tuesday to target a fresh challenge of the new all-time high of $3,987.25 a tonne reached in pre-market business, dealers said.
Published 19 Oct, 2005 12:00am
European gold eases

European gold eases

Gold prices marginally fell in subdued European trade on Tuesday with dealers keeping an eye on crude oil prices and the dollar for new leads.
Published 19 Oct, 2005 12:00am
US MIDDAY: coffee higher on storm worries

US MIDDAY: coffee higher on storm worries

US coffee futures climbed for a second day to hit a 6-week high on Tuesday, as storm worries persisted for some traders, but the market slipped back from session highs in late activity, dealers said.
Published 19 Oct, 2005 12:00am
US MIDDAY: cocoa firmer on speculative buying

US MIDDAY: cocoa firmer on speculative buying

US cocoa futures closed higher Tuesday on a wave of speculative buying after a report of stalled cocoa exports out of Ivory Coast gave the market a mild boost, though some believed the news was a minor influence, traders said.
Published 19 Oct, 2005 12:00am
US MIDDAY: sugar rallies on fund buying

US MIDDAY: sugar rallies on fund buying

Raw sugar prices settled Tuesday at the highest level in seven years due to a steady barrage of fund buying and the market could crawl higher on follow-through interest in the days ahead, brokers said.
Published 19 Oct, 2005 12:00am
US MIDDAY: corn eases on spillover pressure

US MIDDAY: corn eases on spillover pressure

Corn futures at the Chicago Board of Trade were lower early on Tuesday amid active harvest of a big US corn crop and on spillover pressure from a tumble in soya, traders said.
Published 19 Oct, 2005 12:00am
US MIDDAY: wheat lower on technical selling

US MIDDAY: wheat lower on technical selling

Wheat futures at the Chicago Board of Trade were sharply lower early on Tuesday on technical selling by funds that pushed the market into sell-stops, traders said.
Published 19 Oct, 2005 12:00am
US MIDDAY: copper slips on profit taking

US MIDDAY: copper slips on profit taking

US copper futures opened on Tuesday with small losses in an early bout of profit taking, then slipped further after US inflation readings rose faster than expected, said metal traders.
Published 19 Oct, 2005 12:00am
US MIDDAY: soyabeans fall on commercials

US MIDDAY: soyabeans fall on commercials

Soyabean futures at the Chicago Board of Trade sagged early Tuesday, pressured by the weakness in soyaoil and the energy markets, traders said.
Published 19 Oct, 2005 12:00am
US MIDDAY: gold drifts lower on economic data

US MIDDAY: gold drifts lower on economic data

US gold futures slipped early on Tuesday amid softer oil prices and a firmer dollar after a mixed bag of US economic data, but traders said fund buying and good overseas demand helped shore up prices.
Published 19 Oct, 2005 12:00am
World Bank mission to visit quake-hit areas

World Bank mission to visit quake-hit areas

The World Bank Earthquake Emergency Mission comprising Christoph Pusch and John Wall, Country Director in Pakistan meet Adviser to the Prime Minister on Finance, Revenue, Economic Affairs and Statistics Dr Salman Shah, Minister of State for Finance Omar A
Published 19 Oct, 2005 12:00am
'Small villages in AJK still waiting for relief'

'Small villages in AJK still waiting for relief'

Jammu and Kashmir Human Rights Commission (JKHRC) said on Tuesday that government relief efforts are confined to the cities while the small villages having hundreds of casualties still await for evacuation and relief services.
Published 19 Oct, 2005 12:00am
90 percent roads in quake-hit areas opened

90 percent roads in quake-hit areas opened

The government claimed on Tuesday that about 90 percent of the road network in earthquake affected areas have been opened and work in remaining areas was also in progress at full swing.
Published 19 Oct, 2005 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Cataclysmic events of the proportion: that the October 8 earthquake has produced not only aftershocks that shake buildings and make people run helter-skelter but also tend to create a whole new regime of socio-political norms.
Published 19 Oct, 2005 12:00am
'Government on alert to face bird flu challenge'

'Government on alert to face bird flu challenge'

The government on Tuesday reiterated that it is on alert to meet the challenge of virus avian influenza, commonly known as bird flu. A high-level meeting was held here under the chairmanship of federal Ministry of Food, Agriculture and Livestock (Minfal)
Published 19 Oct, 2005 12:00am
Opposition declines to attend briefing on relief work

Opposition declines to attend briefing on relief work

Combined opposition on Tuesday declined to attend a briefing-cum Iftar dinner at the Prime Minister secretariat on relief operations, saying the parliament should have been the right forum for such initiative.
Published 19 Oct, 2005 12:00am
Too many banks

Too many banks

Recently news is appearing that Bank of Sindh and Bank of Balochistan shall soon start functioning. A bank with the name of Bank of Azad Kashmir is also under consideration. Before giving permission, the regulatory authority must appraise whether incorpor
Published 19 Oct, 2005 12:00am
Conservancy in CBF area

Conservancy in CBF area

Citizens residing in various blocks of Gulistan-e-Jouhar, Karachi, pay 'Conservancy' Tax to the Cantonment Board Faisal (CBF) but do not get regular and proper service of conservancy in the area.
Published 19 Oct, 2005 12:00am
Zanzibar on edge as vote endangers Tanzania image

Zanzibar on edge as vote endangers Tanzania image

Hundreds of people dutifully sink onto the grass in a field on Zanzibar's Pemba island at the command of their leader Seif Sharif Hamad. It's not a mark of respect but a warm-up for protests.
Published 19 Oct, 2005 12:00am
Shifting business from traditional form to corporate

Shifting business from traditional form to corporate

Though a change in the business environment has been witnessed in Pakistan during the past few years, yet the speed of the shift of the form of business, from sole proprietorship and partnership concerns to corporate entities, has been very slow.
Published 19 Oct, 2005 12:00am
Responsibility towards orphaned children

Responsibility towards orphaned children

The government has rightly decided not to allow adoption of children orphaned in the October 8 catastrophic earthquake. Prime Minister Shaukat Aziz announced this decision while visiting injured children in different health care facilities in Islamabad la
Published 19 Oct, 2005 12:00am
Regulating environmental protection

Regulating environmental protection

Even though the Environmental Protection Act came into force eight years ago, in 1997, it has remained virtually ineffective due mainly to the lacunae in the law under which environmental tribunals function.
Published 19 Oct, 2005 12:00am
CDGL to set up 100-bed temporary hospital

CDGL to set up 100-bed temporary hospital

The City District Government Lahore (CDGL) is planning to set up 100-bed temporary hospital at the Lahore airport in view of arrival of a large number of earthquake victims from quake hit areas. District Nazim Lahore Mian Amer Mahmood revealed this while
Published 19 Oct, 2005 12:00am
Rs 1.021 billion approved for zakat

Rs 1.021 billion approved for zakat

Punjab Zakat Council, which met under the chairmanship of Justice Muhammad Akram Beetu (Retd), has accorded approval for releasing an amount of Rs 1.021 billion for zakat deserving people.
Published 19 Oct, 2005 12:00am
Earthquake costs Pesco Rs 323 million

Earthquake costs Pesco Rs 323 million

Peshawar Electricity Supply Company (Pesco) has suffered a damage of Rs 323 million in Hazara Circle due to the October 8 devastating earthquake. Besides, destruction of the installations the company has also lost 3 employees while 120 others were injurie
Published 19 Oct, 2005 12:00am
Three killed as bus collides with pick-up

Three killed as bus collides with pick-up

Ten persons were killed in various road accidents, while more than two dozen injured and six of them seriously have been admitted in various hospitals.
Published 19 Oct, 2005 12:00am
'Quality citrus fruits can fetch precious forex'

'Quality citrus fruits can fetch precious forex'

Improvement of citrus fruit quality could enhance its export and consequently fetch huge earnings for the country. This was stated by Dr Muhammad Afzal, Director General Agriculture (Research), Ayub Agricultural Research Institute, Faisalabad while addres
Published 19 Oct, 2005 12:00am
PMCL rating maintained

PMCL rating maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of the Pakistan Mobile Communications Ltd (PMCL) at AA- and A1 respectively. These ratings donate a very low expectations of credit risk emanating from a very st
Published 19 Oct, 2005 12:00am
The Weather

The Weather

The weather report on Tuesday (October 18, 2005) and the forecast for Wednesday (October 19, 2005).
Published 19 Oct, 2005 12:00am
PMCL rating maintained

PMCL rating maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of the Pakistan Mobile Communications Ltd (PMCL) at AA- and A1 respectively. These ratings donate a very low expectations of credit risk emanating from a very st
Published 19 Oct, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
WTO cell

WTO cell

Sindh Agriculture Department has established World Trade Organisation (WTO) Cell in Karachi for creating awareness among stakeholders about effects of WTO regime in agriculture sector and for co-ordination with concerned agencies.
Published 19 Oct, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 19 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 19 Oct, 2005 12:00am
Sindh revenue system being revamped

Sindh revenue system being revamped

Sindh Minister for Finance Sardar Ahmed told Sindh Assembly during question hour on Tuesday that provincial revenue system was being revamped to make it more efficient, secure and transparent. He said that the system had collapsed after it was devolved to
Published 19 Oct, 2005 12:00am
Key stock market movements at 1700 GMT on October 18

Key stock market movements at 1700 GMT on October 18

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 19 Oct, 2005 12:00am
Another Indian train arrives

Another Indian train arrives

Another train carrying relief supplies for earthquake victims arrived here from India on Tuesday. India has made so for relief supplies around 100 tons of fortified biscuits, polyester sheets, medicines, tents etc.
Published 19 Oct, 2005 12:00am
'Conducive investment climate in Karachi'

'Conducive investment climate in Karachi'

Deputy High Commissioner of United Kingdom Ron Rimmer has said that investment climate in Pakistan, particularly in Karachi, is more favourable and conducive then ever before to promote business here, as textile sector in Pakistan has grown up during the
Published 19 Oct, 2005 12:00am
MMA asks government to call joint session of parliament

MMA asks government to call joint session of parliament

Muttahida Majlis-i-Amal has proposed that the government, instead convening an All-Parties Conference on the 8 October's national disaster, should have called a joint session of Parliament to look into matters arising in the aftermath of the quake.
Published 19 Oct, 2005 12:00am
CBR to hold Collectors' conferences from October 22

CBR to hold Collectors' conferences from October 22

The Central Board of Revenue (CBR) will convene a series of collectors' conferences from next week to devise a plan for meeting the revenue target of Rs 690 billion for 2005-06 in consultation with regional tax officials.
Published 19 Oct, 2005 12:00am
CBR issues procedure for cellphone, telecom companies

CBR issues procedure for cellphone, telecom companies

The Central Board of Revenue (CBR) has issued procedure for the payphone/cellular phone, calling card companies and other telecommunication service providers to claim input tax adjustment on account of PTCL bills.
Published 19 Oct, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
CBR issues procedure for cellphone, telecom companies

CBR issues procedure for cellphone, telecom companies

The Central Board of Revenue (CBR) has issued procedure for the payphone/cellular phone, calling card companies and other telecommunication service providers to claim input tax adjustment on account of PTCL bills.
Published 19 Oct, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (October 18, 2005) and Wednesday (October 19, 2005)
Published 19 Oct, 2005 12:00am
NBP asked to open maximum counters for tax challans

NBP asked to open maximum counters for tax challans

The Central Board of Revenue (CBR) has asked the National Bank of Pakistan (NBP) to open maximum number of counters at the designated branches for the taxpayers to deposit income tax challans and train its officials to guide the taxpayers for specifying t
Published 19 Oct, 2005 12:00am
NBP asked to open maximum counters for tax challans

NBP asked to open maximum counters for tax challans

The Central Board of Revenue (CBR) has asked the National Bank of Pakistan (NBP) to open maximum number of counters at the designated branches for the taxpayers to deposit income tax challans and train its officials to guide the taxpayers for specifying t
Published 19 Oct, 2005 12:00am
GCU debating team beats Aitchison College

GCU debating team beats Aitchison College

Government College University (GCU) Lahore's Debating Team beat Aitchison College Lahore at the finals of the 9th Annual All Pakistan Inter-Collegiate Parliamentary Style Debating Championship hosted by the Lahore Grammar School Defence campus.
Published 19 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 18, 2005).

Published 19 Oct, 2005 12:00am
Earthquake destroys 8,000 schools in NWFP

Earthquake destroys 8,000 schools in NWFP

As many as 8000 private and public sector schools have been destroyed in NWFP in the devastating earthquake that struck Pakistan on October 08.
Published 19 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
Cooperative scam victims to get cheques today

Cooperative scam victims to get cheques today

National Accountability Bureau (NAB) Punjab will hold a cheque distribution ceremony for co-operative victims at the Chamba House, GOR-I here on Wednesday.
Published 19 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
Manmohan wants to visit Pakistan soon

Manmohan wants to visit Pakistan soon

Following the October 8 catastrophic earthquake in the Subcontinent humanity has taken over politics, and Indian Prime Minister Manmohan Singh has expressed his desire to visit Islamabad soon to express New Delhi's condolences and solidarity with the gove
Published 19 Oct, 2005 12:00am
MPA disqualified

MPA disqualified

Peshawar High Court on Tuesday disqualified Malik Imran, PML (N) member of NWFP Assembly on the grounds that his Bachelor's degree was fake.
Published 19 Oct, 2005 12:00am
PC focusing on December 31 deadline for PSMC sell-off

PC focusing on December 31 deadline for PSMC sell-off

Inspired by good response from potential investors, the Privatisation Commission is targeting the deadline of December 31, 2005 for Pakistan Steel Mills Corporation (PSMC) sell-off, and officials say that they will hold local as well as international pre-
Published 19 Oct, 2005 12:00am
THE RUPEE: slight gains in interbank rates

THE RUPEE: slight gains in interbank rates

Marginal gains were seen in the interbank market as the rupee picked up two paisa versus the dollar buying and selling at 59.72 and 59.73, dealers said.
Published 19 Oct, 2005 12:00am
SECP registers 319 companies

SECP registers 319 companies

The Securities and Exchange Commission of Pakistan (SECP) registered 319 companies during September 2005 as compared to 236 companies registered during the corresponding month of the previous year, reflecting an increase of 35 percent.
Published 19 Oct, 2005 12:00am
THE RUPEE: slight gains in interbank rates

THE RUPEE: slight gains in interbank rates

Marginal gains were seen in the interbank market as the rupee picked up two paisa versus the dollar buying and selling at 59.72 and 59.73, dealers said.
Published 19 Oct, 2005 12:00am
More relief goods from US arrive

More relief goods from US arrive

More relief goods from the United States would arrive soon to assist Pakistan in relief work for the earthquake victims. United States consul general Ms Mary H. Witt said this while handing over to Pakistani authorities second consignment of relief suppli
Published 19 Oct, 2005 12:00am
Leasing Companies: UNION LEASING LIMITED - Year Ended 30th June 2005

Leasing Companies: UNION LEASING LIMITED - Year Ended 30th June 2005

The year under review has been quite successful year despite rising interest rate for borrowings and at the same time difficult bargain on lease business's implicit rates of interest because of fierce competition unleashed by large commercial banks.
Published 19 Oct, 2005 12:00am
Bangladesh firm opens outlet in Karachi

Bangladesh firm opens outlet in Karachi

Senate Chairman Muhammadmian Soomro has inaugurated the first outlet of the largest Bangladesh company Beximco in Pakistan here on Tuesday. Beximco would set up a chain of stores in Pakistani cities. These stores, which are named "Yellow", will market hig
Published 19 Oct, 2005 12:00am
Leasing Companies: UNION LEASING LIMITED - Year Ended 30th June 2005

Leasing Companies: UNION LEASING LIMITED - Year Ended 30th June 2005

The year under review has been quite successful year despite rising interest rate for borrowings and at the same time difficult bargain on lease business's implicit rates of interest because of fierce competition unleashed by large commercial banks.
Published 19 Oct, 2005 12:00am
US troops kill 4 Afghan police by mistake

US troops kill 4 Afghan police by mistake

US troops shot four Afghan policemen dead and wounded another after mistaking them for militants during an operation in southern Afghanistan, a senior local official said on Tuesday.
Published 19 Oct, 2005 12:00am
US troops kill 4 Afghan police by mistake

US troops kill 4 Afghan police by mistake

US troops shot four Afghan policemen dead and wounded another after mistaking them for militants during an operation in southern Afghanistan, a senior local official said on Tuesday.
Published 19 Oct, 2005 12:00am
TCP sales 48,000 cotton bales

TCP sales 48,000 cotton bales

Trading Corporation of Pakistan (TCP) has sold 48,000 cotton bales through a tender opened on Monday. TCP had invited bids for the export sale of 50,000 bales of cotton crop 2004-2005 and received 25 bids for 81,000 bales.
Published 19 Oct, 2005 12:00am
TCP sales 48,000 cotton bales

TCP sales 48,000 cotton bales

Trading Corporation of Pakistan (TCP) has sold 48,000 cotton bales through a tender opened on Monday. TCP had invited bids for the export sale of 50,000 bales of cotton crop 2004-2005 and received 25 bids for 81,000 bales.
Published 19 Oct, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (October 18, 2005).

Published 19 Oct, 2005 12:00am
TCP sales 48,000 cotton bales

TCP sales 48,000 cotton bales

Trading Corporation of Pakistan (TCP) has sold 48,000 cotton bales through a tender opened on Monday. TCP had invited bids for the export sale of 50,000 bales of cotton crop 2004-2005 and received 25 bids for 81,000 bales.
Published 19 Oct, 2005 12:00am
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