News Archives for Print - 2005-12-03

Print - 2005-12-03

Insipid business observed on cotton market

Low business was seen in the cotton market on Friday as most of the buyers kept on the sidelines ahead of the Pakistan Cotton Ginners Association (PCGA) report, dealers said.

Published 03 Dec, 2005 12:00am

July-October textile exports register 28 percent growth

Pakistan's textile exports have registered 28 percent growth, to $3.341 billion, during the first four months (July-October) of the current fiscal year against last year's $2.610 billion, despite decline in some items.

Published 03 Dec, 2005 12:00am

Iraq issues sugar tender

Iraq has issued a freight tender to deliver 200,000 tonnes of sugar to its main Umm Qasr port during December and January, traders said on Friday.

Published 03 Dec, 2005 12:00am

Pakistan wants equitable global trade: minister

Pakistan has a very clear stance and wants that level playing should be provided for a fair and equitable global trade, Pakistan wants removal of all trade distorting subsidies being provided through provision of domestic support and export subsides by th

Published 03 Dec, 2005 12:00am

Plastic mouldings move both ways

Plastic mouldings trading showed mixed trend on Jodia Bazar on Friday.

Published 03 Dec, 2005 12:00am

South Asian nations seal free trade deal

Seven South Asian countries have finalised an agreement to set up a free trade area, the Indian government said Friday, a move predicted to more than double the size of the regional market.

Published 03 Dec, 2005 12:00am

Rapeseeds and rice turn lower in thin trade

Falling trend was seen in the grain market on Friday amid low business following the steady arrivals from upcountry markets, dealers said.

Published 03 Dec, 2005 12:00am

South Asian nations seal free trade deal

Seven South Asian countries have finalised an agreement to set up a free trade area, the Indian government said Friday, a move predicted to more than double the size of the regional market.

Published 03 Dec, 2005 12:00am

New York cocoa ends at a two-month high

US cocoa futures rallied 3.5 percent, or $50 a tonne, on Thursday as fund and speculative buying boosted prices to a 2-month peak amid reports of a reduction to Ivory Coast's main cocoa crop, market sources said.

Published 03 Dec, 2005 12:00am

South Asian nations seal free trade deal

Seven South Asian countries have finalised an agreement to set up a free trade area, the Indian government said Friday, a move predicted to more than double the size of the regional market.

Published 03 Dec, 2005 12:00am

New York coffee futures moderately lower

US coffee futures finished at eight-week lows in a moderate decline on Thursday, as some funds continued their technical selling amid a lack of fundamental reasons to buy, traders said.

Published 03 Dec, 2005 12:00am

Pakistan's consulate in Mumbai soon: foreign office

Foreign Office spokesperson Tasnim Aslam has expressed hope Pakistan's consulate general would become operational in Mumbai in January. Efforts are being made to settle all matters in this connection with India and hopefully the process would be accomplis

Published 03 Dec, 2005 12:00am

MGE wheat up, led by December on no deliveries

Spring wheat futures at the Minneapolis Grain Exchange closed higher on Thursday with spot December leading the way up amid no deliveries posted against that month, traders said.

Published 03 Dec, 2005 12:00am

MoU to be signed with India against drug trafficking

Pakistan and India on Friday agreed in principle to sign a Memorandum of Understanding (MoU) on co-operation between their anti-narcotics agencies in fighting drug trafficking in the region.

Published 03 Dec, 2005 12:00am

Comex copper soars

US copper futures ended about 4 percent higher on Thursday, driven by funds clamouring to get into industrial assets, as recent US economic data should mean robust demand for metals, energy, and other commodities, traders said.

Published 03 Dec, 2005 12:00am

President leaves for Kuwait today

President General Pervez Musharraf will leave for 4-day visit to Kuwait and Yemen on Saturday and on last leg of his tour will attend 2-day 3rd extraordinary summit of the Organisation of Islamic Conference in Makkah Mukarramah, beginning from December 7.

Published 03 Dec, 2005 12:00am

Gold in New York ends at 23-year peak

Gold prices soared to their highest level in close to 23 years in New York on Thursday, powered by more investment fund buying after the breakout above the key $500 an ounce mark this week, dealers said.

Published 03 Dec, 2005 12:00am

IMF sees Afghan economy growing 14 percent in 2005-06

Afghanis-tan's economy is set to grow 14 percent in 2005/06 with inflation pressures easing, the International Monetary Fund said on Friday.

Published 03 Dec, 2005 12:00am

Tokyo gold and platinum surge

Tokyo Commodity Exchange gold and platinum futures surged on Friday as the yen's fall beyond 120 yen to the dollar and bullish dollar-based spot prices sparked active buying by funds and retail investors.

Published 03 Dec, 2005 12:00am

Easy availability of Hepatitis C vaccines proposed

A meeting of the Standing Committee on Health Department was held under the chairmanship of MPA Dr Muhammad Salim Khan here at the Conference Room of the NWFP Assembly Secretariat, on Thursday.

Published 03 Dec, 2005 12:00am

Gold near 23-year high in Asia

Gold rose to as high as $505 an ounce in Asia on Friday, its best level since February 1983, and was likely to rise further as fund buying resurfaced despite fears of year-end liquidation.

Published 03 Dec, 2005 12:00am

Bush saddened

The White House said on Friday that President George W. Bush had been saddened by the death of 10 US marines in a roadside bomb attack in Iraq.

Published 03 Dec, 2005 12:00am

Shanghai copper climbs

Shanghai copper futures closed moderately higher on Thursday, maintaining its recent upward momentum even after China's State Reserves Bureau announced another impending sale of the red metal.

Published 03 Dec, 2005 12:00am

Bush saddened

The White House said on Friday that President George W. Bush had been saddened by the death of 10 US marines in a roadside bomb attack in Iraq.

Published 03 Dec, 2005 12:00am

Oil steady after surging on US cold snap forecasts

Oil held steady on Friday after rallying a day before on forecasts for frigid weather in the US Northeast, which could boost fuel demand in the world's largest heating oil market.

Published 03 Dec, 2005 12:00am

Ten US marines killed near Fallujah

A roadside bomb killed 10 US marines and wounded 11 outside of the troubled Iraqi city of Fallujah in one of the deadliest attacks in recent months, the US military said Friday.

Published 03 Dec, 2005 12:00am

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 40.54 cents per pound, effective through December 8. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.

Published 03 Dec, 2005 12:00am

Ten US marines killed near Fallujah

A roadside bomb killed 10 US marines and wounded 11 outside of the troubled Iraqi city of Fallujah in one of the deadliest attacks in recent months, the US military said Friday.

Published 03 Dec, 2005 12:00am

CBOT rice futures tumble

January rough rice futures at the Chicago Board of Trade fell 14-1/2 cents per bushel past on Thursday as funds liquidated long positions and sell-stops were hit, traders said.

Published 03 Dec, 2005 12:00am

Planning Commission against gas price hike

The Planning Commission has opposed the proposed increase in gas prices and said that this would adversely affect the consumers, particularly the low-income group that falls in the category of lifeline consumers and industrial sector.

Published 03 Dec, 2005 12:00am

Philippines November coconut oil exports up

Philippine preliminary coconut oil shipments rose 21.3 percent to 119,790 tonnes in November from actual exports of 98,783 tonnes in the same month of 2004, an industry group said on Friday.

Published 03 Dec, 2005 12:00am

Planning Commission against gas price hike

Published 03 Dec, 2005 12:00am

New York sugar rallies to finish at highest since 1996

Raw sugar prices finished at a nine-year high on Thursday due to relentless buying by investors betting that supplies will get tight as more cane is funnelled into the production of the biofuel ethanol, brokers said.

Published 03 Dec, 2005 12:00am

Planning Commission against gas price hike

Published 03 Dec, 2005 12:00am

Soyabeans close firm after choppy trade

Soyabean futures at the Chicago Board of Trade closed firm on Thursday after a choppy session, struggling between short covering and worries about demand for US soyabeans after disappointing weekly export sales data, traders said.

Published 03 Dec, 2005 12:00am

CBR opposes ministry''s move to end duty, sales tax

The Central Board of Revenue (CBR) has strongly opposed a proposal of Ministry of Petroleum and Natural Resources to withdraw 5 percent customs duty and 15 percent sales tax on import of liquefied petroleum gas (LPG).

Published 03 Dec, 2005 12:00am

Cottons back in Bangladesh as the young go local

Traditional woven cotton is back in fashion in Bangladesh with young women in the Muslim-majority country switching to homespun fabrics and locally designed dresses.

Published 03 Dec, 2005 12:00am

CBR opposes ministry's move to end duty, sales tax

Published 03 Dec, 2005 12:00am

Malaysian palm oil futures up

Malaysian palm oil closed up 0.7 percent after technical buying in late trade propped up a market down from the start of the week till on Friday.

Published 03 Dec, 2005 12:00am

CBR opposes ministry's move to end duty, sales tax

Published 03 Dec, 2005 12:00am

Malaysia ready to support troubled state airline

Malaysia's government is prepared to support its loss-making national carrier, Malaysian Airline System Bhd (MAS), with a loan and may consider selling down its stake, the prime minister said on Friday.

Published 03 Dec, 2005 12:00am

Government to expand role of private sector: Shaukat

Prime Minister Shaukat Aziz has said that the government was preparing a policy to expand the role of private sector in power generation. He was speaking at the inaugural session of ''Industrial Conference'' and Site export awards 2005 ceremony organised

Published 03 Dec, 2005 12:00am

Volkswagen defends corporate governance

Volkswagen defended its corporate governance on Friday amid mounting ire by minority shareholders in Europe's biggest carmaker over the role of Chairman Ferdinand Piech.

Published 03 Dec, 2005 12:00am

Government to expand role of private sector: Shaukat

Prime Minister Shaukat Aziz has said that the government was preparing a policy to expand the role of private sector in power generation. He was speaking at the inaugural session of 'Industrial Conference' and Site export awards 2005 ceremony organised by

Published 03 Dec, 2005 12:00am

Volkswagen defends corporate governance

Volkswagen defended its corporate governance on Friday amid mounting ire by minority shareholders in Europe's biggest carmaker over the role of Chairman Ferdinand Piech.

Published 03 Dec, 2005 12:00am

Government to expand role of private sector: Shaukat

Prime Minister Shaukat Aziz has said that the government was preparing a policy to expand the role of private sector in power generation. He was speaking at the inaugural session of 'Industrial Conference' and Site export awards 2005 ceremony organised by

Published 03 Dec, 2005 12:00am

General Motors, Ford and Chrysler slide in monthly US sales

Detroit's Big Three automakers all posted a slide in US vehicle sales in November, losing further market share to major Japanese rivals.

Published 03 Dec, 2005 12:00am

Data storage grows at record pace

The market for computer disk storage systems grew a record 12.5 percent in the third quarter amid surging demand by businesses to secure a growing mountain of data, market researcher IDC reported.

Published 03 Dec, 2005 12:00am

Ford to close 5 North American plants

Ford Motor Co is likely to close five plants that employ about 7,500 workers, or about 6 percent of the company's North American workforce, the Wall Street Journal reported on Friday.

Published 03 Dec, 2005 12:00am

Spanish jobless rate rises in November

The number of jobless in Spain rose by 42,719 people or by 2.0 percent in November from October, the labour ministry said Friday. On a 12-month basis, the number of jobless fell by 25,509 people or by 1.1 percent to 2,095,580.

Published 03 Dec, 2005 12:00am

US eyes trade deals with Egypt, Peru and South Korea

The United States hopes to begin free-trade talks with Egypt, South Korea and Switzerland and wrap up deals with Peru, Panama and possibly Colombia in the near future, the top US trade official said on Thursday.

Published 03 Dec, 2005 12:00am

IMF gives Serbia green light to complete loan deal

Serbia and the International Monetary Fund on Friday agreed on the country's plan for 2006, paving the way for the lender's board of directors to approve the completion of a 2002-05 loan deal, the Fund said.

Published 03 Dec, 2005 12:00am

IOC eyes Canadian and French oil firms

State-run Indian Oil Corp (IOC) is in talks to acquire exploration firms in Europe and Canada, stepping up energy-deficient India's campaign to secure more oil to run Asia's third-largest economy.

Published 03 Dec, 2005 12:00am

Motorola in China handsets deal with rival TCL

No 2 global cellphone maker Motorola Inc, looking to grow its market share in China, said on Friday it struck a deal under which local rival TCL will help sell its handsets.

Published 03 Dec, 2005 12:00am

ECB goes on offensive over interest rate rise

The European Central Bank on Friday mounted a robust defence of its first interest rate rise in five years, playing down the chances of an economic backlash.

Published 03 Dec, 2005 12:00am

Canada's jobless rate falls

Canada's booming economy created more jobs than forecast in November and pushed the unemployment rate to its lowest in more than 30 years, sealing expectations the Bank of Canada will hike interest rates again next week.

Published 03 Dec, 2005 12:00am

Chinese textile exports to soar despite curbs

Chinese textile exports are likely to grow 19.2 percent in 2005 to $116 billion, only a bit slower than last year despite curbs on shipments to the United States and the European Union, Xinhua news agency said on Friday.

Published 03 Dec, 2005 12:00am

Intel names new sales, technology chiefs

Intel Corp on Thursday named new top executives of the sales and technology operations of the world's largest chip maker. Eric Kim, who joined Intel from Samsung Electronics last year, was promoted to senior vice president for sales and marketing and name

Published 03 Dec, 2005 12:00am

Greenspan renews warning on US budget deficits

Good short-term prospects for the US economy should not distract from huge looming fiscal strains that pose "significant" economic risks, Federal Reserve Chairman Alan Greenspan said on Friday in a renewed warning on budget deficits.

Published 03 Dec, 2005 12:00am

US job growth springs back after hurricanes

The US job market sprung back last month from a hurricane-induced slowdown as nonfarm employers added 215,000 workers, according to a government report on Friday that showed the economy on solid ground.

Published 03 Dec, 2005 12:00am

Bahrain arrests 15 youths after clashes over jobs

Police have arrested 15 youths in a third night of clashes with Bahrainis angry over the alleged abuse of an activist organising protests against unemployment, regional media and activists said on Friday.

Published 03 Dec, 2005 12:00am

Blair warns East Europeans not to miss EU budget boat

British Prime Minister Tony Blair warned the poor new east European members on Friday not to miss the boat on a European Union budget deal and the newcomers signalled they could accept a small cut in planned aid.

Published 03 Dec, 2005 12:00am

Indian Prime Minister to seek long-term energy ties with Russia

Indian Prime Minister Manmohan Singh will look to develop long-term energy co-operation with Russia during a visit to the country this week, an official said Friday.

Published 03 Dec, 2005 12:00am

EU must play its part to check oil price: Opec

Opec's president said on Friday he wanted the oil group to keep pumping full throttle until March to moderate prices and told EU officials consumer states must play their part by building refineries and cutting oil taxes.

Published 03 Dec, 2005 12:00am

Pioneer to cut more jobs in restructuring

Japanese electronics maker Pioneer Corp said on Friday it had started talks with its labour union over additional job cuts through early retirement, as it seeks ways to deal with a projected record loss this year.

Published 03 Dec, 2005 12:00am

UK to consider world leaders meeting ahead of WTO

Britain said on Friday it would consider a call from Brazil's president for world leaders to meet ahead of crucial World Trade Organisation (WTO) talks in Hong Kong this month. "We said to the president of Brazil we would consult on his proposal following

Published 03 Dec, 2005 12:00am

Greenspan farewell, trade dominate G7 moot

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 20	277.90
USD PKR Interbank Buying / Sep 20	277.70
USD to Japanese Yen / Sep 20	142.19
USD to Swiss Franc / Sep 20	0.85
Pound Sterling to USD / Sep 20	1.33
Euro to USD / Sep 20	1.12

Stock	Volume
S&P 500 / Sep 19	5,713.64
Nasdaq / Sep 19	18,013.98
FTSE 100 / Sep 19	8,328.72
Dow Jones / Sep 19	42,025.19
Germany DAX 30 / Sep 19	19,002.38
France CAC40 / Sep 19	7,615.41
India Sensex / Sep 20	83,711.40
Tokyo Nikkei / Sep 20	37,879.54

Item	Value
Gold 10 Grams PKR / Sep 19	230,195
Crude Oil USD/Barrel / Sep 20	71.80
Karachi Cotton PKR/37.32 KG / Sep 20	18,935
Gold Spot USD/Ounce / Sep 20	2,599.47
Cotton US¢/pound / Sep 20	73.42
Petrol/Litre / Sep 21	249.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 21 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 21 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 21 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 21 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 21 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 21 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 21 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 21 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 21 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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