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Print - 2005-11-22
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Yields on the BMA-PGBI increased by 3 pps and its value increased by 0.02% to close at 100.1768. The yields for the short tenors increased by 1 basis point, while the medium tenors remained unchanged.
Published 22 Nov, 2005 12:00am
RoK donates three ultra-sound machines

RoK donates three ultra-sound machines

A Korean ultra-sound machine manufacturing company "Medison" has donated three ultra-sound machines worth Rs 3 million for the diagnosis and treatment of earthquake-affected people in Azad Kashmir and Hazara Division.
Published 22 Nov, 2005 12:00am
Italian consul general outlines contributions for relief

Italian consul general outlines contributions for relief

An Italian ship RO-RO is expected to arrive here from Italy to disembark 1800 tonnes of material and vehicles provided by the Italian team for the rescue needs of the October 8 earthquake affected population and the reconstruction of the infrastructures o
Published 22 Nov, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (November 21, 2005).

Published 22 Nov, 2005 12:00am
Rashid meets Malaysian counterpart

Rashid meets Malaysian counterpart

Minister for Information and Broadcasting Sheikh Rashid Ahmed met Malaysian Information Minister Datuk Seri Abdul Kadir Sheikh Fadzir on the sidelines of 6th Ministerial meeting of Non-Aligned countries.
Published 22 Nov, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (November 21, 2005).
Published 22 Nov, 2005 12:00am
Prime Minister praises Turkish quake relief support

Prime Minister praises Turkish quake relief support

Prime Minister Shaukat Aziz on Monday offered deep gratitude to the people and government of Turkey for their whole-hearted support in the aftermath of October 8 earthquake and said the historical ties between the two countries would continue to gain stre
Published 22 Nov, 2005 12:00am
Australian Prime Minister arrives

Australian Prime Minister arrives

Australian Prime Minister John Howard arrived here on Monday on a three-day visit. He was received at the airport by the Minister in Waiting Ijazul Haq, Australian High Commissioner to Pakistan Zorica McCarthy and other senior civil and military officials
Published 22 Nov, 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 (November 21, 2005).

Published 22 Nov, 2005 12:00am
Australian Prime Minister arrives

Australian Prime Minister arrives

Australian Prime Minister John Howard arrived here on Monday on a three-day visit. He was received at the airport by the Minister in Waiting Ijazul Haq, Australian High Commissioner to Pakistan Zorica McCarthy and other senior civil and military officials
Published 22 Nov, 2005 12:00am
US envoy lauds efforts for poppy eradication

US envoy lauds efforts for poppy eradication

United States ambassador Ryon C. Crocker on Monday reiterated the US commitment to help and assist the Pakistan government overcome the disaster-related problems.
Published 22 Nov, 2005 12:00am
UNHCR chief to arrive on November 24

UNHCR chief to arrive on November 24

The United Nations High Commissioner for Refugees (UNHCR), António Guterres will arrive here on November 24 to review UNHCR's earthquake relief operations.
Published 22 Nov, 2005 12:00am
KSE index fails to sustain 9000

KSE index fails to sustain 9000

The KSE index once again failed to cross the 9000 level as sellers outnumbered buyers on Monday, reducing the overall gains made during the morning session as some of the quarters saw swapping of November futures.
Published 22 Nov, 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 (November 21, 2005).

Published 22 Nov, 2005 12:00am
KSE index fails to sustain 9000

KSE index fails to sustain 9000

The KSE index once again failed to cross the 9000 level as sellers outnumbered buyers on Monday, reducing the overall gains made during the morning session as some of the quarters saw swapping of November futures.
Published 22 Nov, 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 (November 21, 2005).

Published 22 Nov, 2005 12:00am
KSE index fails to sustain 9000

KSE index fails to sustain 9000

The KSE index once again failed to cross the 9000 level as sellers outnumbered buyers on Monday, reducing the overall gains made during the morning session as some of the quarters saw swapping of November futures.
Published 22 Nov, 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 (November 21, 2005).

Published 22 Nov, 2005 12:00am
Money supply continues rising

Money supply continues rising

After recording an expansion of Rs 22 billion on October 29, 2005, money supply rose further to over Rs 33 billion on November 5, according to an update of the State Bank, released on November 21. The increase amounted to about Rs 11 billion over the week
Published 22 Nov, 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 22 Nov, 2005 12:00am
Money supply continues rising

Money supply continues rising

After recording an expansion of Rs 22 billion on October 29, 2005, money supply rose further to over Rs 33 billion on November 5, according to an update of the State Bank, released on November 21. The increase amounted to about Rs 11 billion over the week
Published 22 Nov, 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 22 Nov, 2005 12:00am
Money supply continues rising

Money supply continues rising

After recording an expansion of Rs 22 billion on October 29, 2005, money supply rose further to over Rs 33 billion on November 5, according to an update of the State Bank, released on November 21. The increase amounted to about Rs 11 billion over the week
Published 22 Nov, 2005 12:00am
NBP aims to attain $29 billion foreign trade operations

NBP aims to attain $29 billion foreign trade operations

The National Bank of Pakistan (NBP) has a current foreign trade operations of $15 billion and its target is $29 billion within three years. This was stated by NBP President Ali Raza while talking to newsmen during a short break in the 'Overseas Conference
Published 22 Nov, 2005 12:00am
CBR needs more reforms to build image: Yusuf

CBR needs more reforms to build image: Yusuf

The Central Board of Revenue needs thorough and quick reforms ie transparency, capacity building, maximum induction of modern machinery and automation to rectify its image and credibility among the stakeholder.
Published 22 Nov, 2005 12:00am
International symposium begins today

International symposium begins today

The National Productivity Organisation (NPO), Ministry of Industries, Production and Special Initiatives, is hosting an international symposium on Six Sigma corporations from November 22 to 25 in the provincial metropolis.
Published 22 Nov, 2005 12:00am
Reforms aims at raising tax-GDP ratio: Yousuf

Reforms aims at raising tax-GDP ratio: Yousuf

The Government wants a quantum jump in tax-to-GDP ratio by restructuring the tax policies, Chairman, Central Board of Revenue (CBR), Abdullah Yousaf, said here on Monday.
Published 22 Nov, 2005 12:00am
Gondal takes charge as principal information officer

Gondal takes charge as principal information officer

Ashfaq Ahmad Gondal, a BS-21 officer of Information Group on Monday assumed the charge of the post of Director General / Principal Information Officer (PIO), Press Information Department Islamabad.
Published 22 Nov, 2005 12:00am
Reforms aims at raising tax-GDP ratio: Yousuf

Reforms aims at raising tax-GDP ratio: Yousuf

The Government wants a quantum jump in tax-to-GDP ratio by restructuring the tax policies, Chairman, Central Board of Revenue (CBR), Abdullah Yousaf, said here on Monday.
Published 22 Nov, 2005 12:00am
CDA asked to get Parliament House repaired

CDA asked to get Parliament House repaired

The National Assembly Standing Committee on House and Library on Monday directed the Capital Development Authority (CDA) to immediately get cracks in the structures of the Parliament House and Lodges repaired which were developed due to recent earthquake.
Published 22 Nov, 2005 12:00am
Reforms aims at raising tax-GDP ratio: Yousuf

Reforms aims at raising tax-GDP ratio: Yousuf

The Government wants a quantum jump in tax-to-GDP ratio by restructuring the tax policies, Chairman, Central Board of Revenue (CBR), Abdullah Yousaf, said here on Monday.
Published 22 Nov, 2005 12:00am
Three of a family killed as roof caves in

Three of a family killed as roof caves in

At least three persons, including two children have died when a roof of a dilapidated building caved in on Monday early in the morning.
Published 22 Nov, 2005 12:00am
Qazi's wife injured

Qazi's wife injured

Wife of Ameer Jamaat-i-Islami (JI) Qazi Hussain Ahmed was injured in a road mishap near Kohala on Sunday evening. According to details, Begum Qazi Hussain Ahmed was coming back from Muzzafarabad along with other women workers of JI, when a vehicle hit her
Published 22 Nov, 2005 12:00am
Quake unites Pakistani and Indian students

Quake unites Pakistani and Indian students

The October 8 earthquake was enough to jolt many, as the participants at a recent fundraiser at the World Bank, saw Pakistani and Indian American students of the SAIS, working together to plead the case of the affected people.
Published 22 Nov, 2005 12:00am
Afridi banned for one Test and two one-dayers

Afridi banned for one Test and two one-dayers

Pakistan all rounder Shahid Afridi has been banned for one test and two one-dayers after admitting damaging the pitch with his boots in an incident after tea on day two of the second test against England on Monday.
Published 22 Nov, 2005 12:00am
Earthquake recorded

Earthquake recorded

An earthquake of moderate intensity measuring 5.3 on the international Richter scale was recorded by the Seismological Network here on Monday. The earthquake was felt at Peshawar, Islamabad and Mansehra. The earthquake originated at 1326 hours and its epi
Published 22 Nov, 2005 12:00am
Parliamentary panel to review relief work

Parliamentary panel to review relief work

Prime Minister Shaukat Aziz on Monday constituted a Committee of Parliamentarians to review the relief and rehabilitation work in the quake-hit areas and summoned its first meeting here on Wednesday.
Published 22 Nov, 2005 12:00am
HBL Modaraba donates Rs 1 million to PRF

HBL Modaraba donates Rs 1 million to PRF

The First Habib Bank Modaraba (FHBM), a wholly owned subsidiary of Habib Bank Limited, has contributed Rs 1 million to the President's Relief Fund to aid the recovery of victims of the October 8 earthquake.
Published 22 Nov, 2005 12:00am
Parliamentary panel to review relief work

Parliamentary panel to review relief work

Prime Minister Shaukat Aziz on Monday constituted a Committee of Parliamentarians to review the relief and rehabilitation work in the quake-hit areas and summoned its first meeting here on Wednesday.
Published 22 Nov, 2005 12:00am
Oil cake market rates

Oil cake market rates

Higher trend was seen in the forward cottonseed oilcake market on Monday due to short supply position, dealers said. The December vaida commenced unchanged at Rs 445.70 and that proved to be day's lowest at the same rate, dealers said.
Published 22 Nov, 2005 12:00am
Foreign investment up by 127 percent

Foreign investment up by 127 percent

The State Bank of Pakistan (SBP) reported on Monday that total foreign private investment in July-October 2005-06 increased by 127 percent to $682 million from $300.3 million in corresponding period of last year.
Published 22 Nov, 2005 12:00am
Foreign investment up by 127 percent

Foreign investment up by 127 percent

The State Bank of Pakistan (SBP) reported on Monday that total foreign private investment in July-October 2005-06 increased by 127 percent to $682 million from $300.3 million in corresponding period of last year.
Published 22 Nov, 2005 12:00am
Steadier trend on grain market

Steadier trend on grain market

Steadier trend was witnessed on the grain market on Monday as most of the commodity items maintained the week-end levels due to good supply position, dealers said.
Published 22 Nov, 2005 12:00am
Foreign investment up by 127 percent

Foreign investment up by 127 percent

The State Bank of Pakistan (SBP) reported on Monday that total foreign private investment in July-October 2005-06 increased by 127 percent to $682 million from $300.3 million in corresponding period of last year.
Published 22 Nov, 2005 12:00am
HRW wheat bids mostly steady

HRW wheat bids mostly steady

Spot basis values for hard red winter wheat were mostly steady to firmer Monday, with scattered demand underpinning an otherwise lacklustre cash market, merchants said.
Published 22 Nov, 2005 12:00am
PC and Industries oppose PSM proposal

PC and Industries oppose PSM proposal

The Privatisation Commission (PC) and Ministry of Industries (MoI) have opposed Pakistan Steel Mills (PSM) proposal for making the entire 19,000 acres of land of the mills a part of the bid document to facilitate the buyer for its future expansion and dum
Published 22 Nov, 2005 12:00am
PC and Industries oppose PSM proposal

PC and Industries oppose PSM proposal

The Privatisation Commission (PC) and Ministry of Industries (MoI) have opposed Pakistan Steel Mills (PSM) proposal for making the entire 19,000 acres of land of the mills a part of the bid document to facilitate the buyer for its future expansion and dum
Published 22 Nov, 2005 12:00am
South African maize planting area down

South African maize planting area down

South Africa cut its estimate of next season's maize harvest area by 19 percent on Monday, as farmers said they would plant about half the amount of land compared to last year amid drought fears.
Published 22 Nov, 2005 12:00am
PC and Industries oppose PSM proposal

PC and Industries oppose PSM proposal

The Privatisation Commission (PC) and Ministry of Industries (MoI) have opposed Pakistan Steel Mills (PSM) proposal for making the entire 19,000 acres of land of the mills a part of the bid document to facilitate the buyer for its future expansion and dum
Published 22 Nov, 2005 12:00am
Iran, first to plant GMO rice, hopes to cut imports

Iran, first to plant GMO rice, hopes to cut imports

Iran, which says it was the first country to commercialise genetically modified rice in 2004, hopes to cut its imports of about 1 million tonnes each year by developing higher-yielding varieties, a senior scientist said.
Published 22 Nov, 2005 12:00am
IMF critical of finance statistics

IMF critical of finance statistics

The International Monetary Fund (IMF) has expressed concern over the Government Finance Statistics (GFS) which suffers from lack of general government finances due to inadequate reporting of fiscal operations by provinces and local governments.
Published 22 Nov, 2005 12:00am
China may export copper to partly meet commitments

China may export copper to partly meet commitments

China's State Reserves Bureau may be preparing to export around 30,000 tonnes of copper before end of November, traders said on Monday, to partially meet rumoured short positions.
Published 22 Nov, 2005 12:00am
IMF critical of finance statistics

IMF critical of finance statistics

The International Monetary Fund (IMF) has expressed concern over the Government Finance Statistics (GFS) which suffers from lack of general government finances due to inadequate reporting of fiscal operations by provinces and local governments.
Published 22 Nov, 2005 12:00am
High metal prices boost Swedish mining industry

High metal prices boost Swedish mining industry

A muddy trench, hundreds of metres long, marks what will become the Blaiken mine, which will start up in June 2006 in northern Sweden, evidence of a renaissance in Swedish mining thanks to surging metals prices.
Published 22 Nov, 2005 12:00am
IMF critical of finance statistics

IMF critical of finance statistics

The International Monetary Fund (IMF) has expressed concern over the Government Finance Statistics (GFS) which suffers from lack of general government finances due to inadequate reporting of fiscal operations by provinces and local governments.
Published 22 Nov, 2005 12:00am
Nippon Mining raises copper price

Nippon Mining raises copper price

Nippon Mining & Metals Co, Japan's top copper smelter, said on Monday that it had raised its copper price by 20,000 yen per tonne to 580,000 yen ($4,867) - the highest since March 1980.
Published 22 Nov, 2005 12:00am
Pakistan on verge of a serious HIV epidemic: UN

Pakistan on verge of a serious HIV epidemic: UN

Indonesia and Pakistan were on the "brink" of a major epidemic and were urged to speed up "their responses if they are to avoid serious HIV epidemics," a UN report said on Monday.
Published 22 Nov, 2005 12:00am
Russian gold lobby cuts output forecast

Russian gold lobby cuts output forecast

Russia's gold industry lobby cut on Monday its forecast for output this year to 175 tonnes from a previous forecast of 183 tonnes, and from 180.5 tonnes produced in 2004.
Published 22 Nov, 2005 12:00am
Pakistan on verge of a serious HIV epidemic: UN

Pakistan on verge of a serious HIV epidemic: UN

Indonesia and Pakistan were on the "brink" of a major epidemic and were urged to speed up "their responses if they are to avoid serious HIV epidemics," a UN report said on Monday.
Published 22 Nov, 2005 12:00am
Desert Sun discovers new gold deposit in Brazil

Desert Sun discovers new gold deposit in Brazil

Canadas Desert Sun Mining Corp discovered a new gold deposit at its Jacobina mine in Brazil that could significantly expand its inferred mineral resources, the company said Monday.
Published 22 Nov, 2005 12:00am
Ivorian cocoa arrivals pick up amid price worries

Ivorian cocoa arrivals pick up amid price worries

Cocoa arrivals at Ivory Coast's ports have reached about 300,000 tonnes this season and are picking up as farmers sell to avoid deterioration of their beans after holding back previously, exporters and buyers said on Monday.
Published 22 Nov, 2005 12:00am
Container liners to raise prices on Asia-US route

Container liners to raise prices on Asia-US route

Container liners serving the busy Pacific route between Asia and North America will increase the price of shipments to ports in the United States to cover higher inland transportation costs.
Published 22 Nov, 2005 12:00am
London cocoa hits seven-week high

London cocoa hits seven-week high

London cocoa extended Friday's gains to touch a seven-week peak on Monday as funds and speculators bought on technical signals, dealers said.
Published 22 Nov, 2005 12:00am
Singapore bunker fuel prices higher

Singapore bunker fuel prices higher

Singapore bunker outright prices were higher on Monday but premiums weakened to below $7 a tonne on slower demand, traders said.
Published 22 Nov, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 91,583 tonnes of cargo including 63,491 tonnes import and 28,092 tonnes export cargo including 1,872 containers during last 24 hours ending at 0700 hours on Monday.
Published 22 Nov, 2005 12:00am
India rules out wheat imports

India rules out wheat imports

India's largest grain procurement agency said on Monday there was no need for the country to import wheat because of sufficient stocks and stable prices.
Published 22 Nov, 2005 12:00am
Shanghai copper higher

Shanghai copper higher

Shanghai copper futures started strong on Monday in the wake of historically high international prices, but retreated to close just slightly up as additional spot supplies weighed on the market.
Published 22 Nov, 2005 12:00am
Tokyo gold sets new 15-year high

Tokyo gold sets new 15-year high

Tokyo gold futures rose to a new 15-year high on Monday as investors took the market's dip as a buying opportunity, amid expectations that gold will benefit from inflation and geopolitical risks.
Published 22 Nov, 2005 12:00am
Gold off multi-year high in Asia

Gold off multi-year high in Asia

Gold hovered below a multi-year peak in Asia on Monday while palladium, a metal used in jewellery and auto catalysts, rose to its highest level in 18 months on gains in Japan.
Published 22 Nov, 2005 12:00am
Malaysian tin drops to new low

Malaysian tin drops to new low

Malaysian tin dropped to a fresh 23-month lows on Monday as a further fall in the metal's London price prompted dealers to reduce stockpiles.
Published 22 Nov, 2005 12:00am
Oil edges higher as cold weather creeps into US

Oil edges higher as cold weather creeps into US

Oil rebounded on Monday from near five-month lows, boosted by chillier weather in the United States despite assurances that Opec would not consider cutting output unless prices fell further.
Published 22 Nov, 2005 12:00am
Asian rubber prices steady, buoyed by rain

Asian rubber prices steady, buoyed by rain

Asian rubber prices remained steady in thin trade on Monday, supported by tight raw material supply following rain over the weekend in major producing countries and a rise in Tokyo futures, traders said.
Published 22 Nov, 2005 12:00am
Egypt sells 1,275 tonnes of cotton

Egypt sells 1,275 tonnes of cotton

The Alexandria Cotton Exporters' Association (Alcotexa) said on Monday it had committed to sell 1,275 tonnes of cotton in the week ended November 19.
Published 22 Nov, 2005 12:00am
Malaysia November 1-20 palm exports down 14 percent: SGS

Malaysia November 1-20 palm exports down 14 percent: SGS

Malaysian exports of oil palm products for November 1-20 are estimated to have fallen 14 percent to 679,348 tonnes from the 789,289 tonnes tracked for October 1-20, Society General de Surveillance, a cargo surveyor, said on Monday.
Published 22 Nov, 2005 12:00am
Tea processing plants in Bandarban

Tea processing plants in Bandarban

Three tea processing plants are going to be set up in private sector in Bandarban, a hilly district of Bangladesh. It is learnt that the three tea processing plants are being set up soon in private sector with the assistance of Bangladesh Tea Board (BTB)
Published 22 Nov, 2005 12:00am
East Asian grain market slows but demand seen solid

East Asian grain market slows but demand seen solid

Corn buyers in South Korea, Japan and Taiwan are expected to keep a low profile this week, but overall demand in the region is seen likely to be solid despite rising concerns over bird flu.
Published 22 Nov, 2005 12:00am
RoK rice market getting blown off track

RoK rice market getting blown off track

South Korea's pledge to open its rice market, a politically charged issue angering local farmers, is getting blown off track and it will miss a target of higher imports this year, government officials and analysts said.
Published 22 Nov, 2005 12:00am
Intel, Micron to form new firm for flash memory

Intel, Micron to form new firm for flash memory

Intel Corp and Micron Technology Inc on Monday said they would form a new company to manufacture NAND flash memory for consumer electronics, removable data storage and handheld communications devices.
Published 22 Nov, 2005 12:00am
Iran picks doctoral graduate, to head bourse

Iran picks doctoral graduate, to head bourse

Iran has appointed a 27-year-old holder of a doctoral degree in management as head of its bourse, where stocks have been dropping, a stock exchange official told Reuters on Monday.
Published 22 Nov, 2005 12:00am
Bangladesh seen struggling to meet GDP growth goals

Bangladesh seen struggling to meet GDP growth goals

Bangladesh has set ambitious growth targets for coming years in an effort to cut poverty that grips nearly half the population, but economists said the country might struggle to meet those goals.
Published 22 Nov, 2005 12:00am
TiVo to bring TV programming to iPod, PSP

TiVo to bring TV programming to iPod, PSP

Digital video recorder maker TiVo Inc on Monday said it will begin testing a feature to let subscribers transfer recorded television programming to Apple iPod digital music players or Sony's PlayStation portable devices, sending shares up 11 percent in pr
Published 22 Nov, 2005 12:00am
Indonesian growth slows as rates and inflation bite

Indonesian growth slows as rates and inflation bite

Indonesia's economic growth dipped in the third quarter to its slowest annual pace in a year as consumers and businesses were confronted with higher inflation and interest rates, data showed on Monday.
Published 22 Nov, 2005 12:00am
Sprint Nextel to buy Alamosa for $3.4 billion

Sprint Nextel to buy Alamosa for $3.4 billion

Sprint Nextel Corp said on Monday it would buy wireless affiliate Alamosa Holdings Inc for about $3.4 billion, resolving legal issues that arose from Sprint's purchase of Nextel Communications, which operates in some of the same markets as the affiliate.
Published 22 Nov, 2005 12:00am