News Archives for Print - 2005-12-07

Print - 2005-12-07

Pakistani rice prices steady, exports soft

Pakistani rice prices were steady over the past week, but dealers said prices could come down in coming weeks because of low exports and rising stocks.

Published 07 Dec, 2005 12:00am

Norway appreciates Pakistan's economic strides

Norwegian Prime Minister Jens Stoltenberg on Tuesday praised Pakistan's impressive economic growth after meeting Prime Minister Shaukat Aziz here and said this would encourage companies from Norway to invest more in the country.

Published 07 Dec, 2005 12:00am

Australian wool indicator falls

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) fell five cents at sales on Tuesday. AWEX said its northern indicator (Sydney) slid six cents to 651c/kg, with the southern indicator (Melbourne) down three cents to 636c/kg. Ther

Published 07 Dec, 2005 12:00am

Norway appreciates Pakistan's economic strides

Published 07 Dec, 2005 12:00am

New York cocoa sheds as Ivory Coast jitters wane

US cocoa futures fell more than 2 percent on Monday from a recent 2-1/2-month peak amid trade profit-taking, swelling bean arrival estimates and improving political conditions in top cocoa producer Ivory Coast, market sources said.

Published 07 Dec, 2005 12:00am

SECP soon to announce procedure for releasing funds in bourses

The Securities and Exchange Commission of Pakistan (SECP) will soon announce procedure for releasing funds on real time basis as well as disclose new mechanism for checking downward capping of shares prices.

Published 07 Dec, 2005 12:00am

Ukraine white beet sugar output 7 percent up so far

Ukraine's sugar refineries have increased white beet sugar output by about seven percent to 1.84 million tonnes so far this year compared with 1.73 million at the same date in 2004, producers said on Tuesday.

Published 07 Dec, 2005 12:00am

SECP soon to announce procedure for releasing funds in bourses

Published 07 Dec, 2005 12:00am

Malaysia's RAM reaffirms Nestle ratings

RAM has reaffirmed the respective long- and short-term ratings of AAA and P1 for Nestle Foods (Malaysia) Sdn Bhd's ("Nestle Foods") RM700 million Al-Murabahah Commercial Papers/Medium-Term Notes Programme (2003/2010) ("CP/MTN"), with a stable outlook.

Published 07 Dec, 2005 12:00am

SECP soon to announce procedure for releasing funds in bourses

Published 07 Dec, 2005 12:00am

Malaysia's RAM reaffirms Nestle ratings

Published 07 Dec, 2005 12:00am

New York coffee futures firmer on roaster buying

US coffee futures ended on positive ground on Monday, thanks to scale-down roaster buying and speculative short covering from a new two-month low hit in the session, market sources said.

Published 07 Dec, 2005 12:00am

Vietnam to hold Indonesian rice shipment

Indonesia has asked Vietnam to delay shipping 182,000 tonnes of rice under a controversial 250,000 tonne deal, a Vietnamese food industry official said.

Published 07 Dec, 2005 12:00am

MGE wheat weak on late speculative selling

Late speculative selling pressed Minneapolis Grain Exchange spring wheat futures to a lower close on Monday, a move that countered gains in the session that were triggered by firm cash markets, traders said.

Published 07 Dec, 2005 12:00am

Tokyo gold higher

Tokyo gold futures closed higher on Tuesday, taking a cue from the New York market, but a flurry of bargain hunting trimmed the market's gains and pulled the benchmark contract off a 15-year peak.

Published 07 Dec, 2005 12:00am

New York copper strong, buyers dominate thin market

US copper futures finished with healthy gains on Monday, as some funds continued the buying trend of last week, although most participants sat on the sidelines after last week's steep run-up to record levels, traders said.

Published 07 Dec, 2005 12:00am

Gold in New York closes at 23-year high above $512/ounce

US gold futures stretched up to a new 23-year peak on Monday, as investors snapped up more of the precious metal due to inflation worries and amid increased diversification into commodities, dealers said.

Published 07 Dec, 2005 12:00am

Gold tops $510 an ounce, highest since January 1980

Spot gold prices soared above $510 an ounce on Tuesday, their highest since January 1980, buoyed by continued fund buying on inflation worries and increased diversification into commodities, dealers said.

Published 07 Dec, 2005 12:00am

Shanghai copper edges up

Shanghai copper futures closed up slightly in sluggish trade on Tuesday as an upcoming spot copper auction by China's State Reserves Bureau sidelined many investors and offset the impact of firmer prices in London.

Published 07 Dec, 2005 12:00am

Oil prices hold just below $60, eyeing upside

Oil prices paused below $60 in early Tuesday trading, but analysts expected fresh upward assaults as an extended chill in the US Northeast fires demand in the world's biggest heating oil market.

Published 07 Dec, 2005 12:00am

Malaysian tin hits 10-week high

Malaysian tin prices climbed to a 10-week high on Tuesday on strong Japanese demand and further gains are likely, traders said.

Published 07 Dec, 2005 12:00am

India increases area under summer oilseeds

The area under oilseeds in India, to be harvested in the summer months, has shown a marked rise over a year ago mainly because of increased sowing of rapeseed and sunflower, the farm ministry said on Tuesday.

Published 07 Dec, 2005 12:00am

New York sugar closes near 10-year high

Raw sugar prices rose on Monday to end at their highest level in nearly 10 years as fund buying and news the US will increase its sugar import quota sparked a rally in the sweetener that shows no signs of abating, brokers said.

Published 07 Dec, 2005 12:00am

Soya ends up as funds buy commercial spreads

Soyabean futures at the Chicago Board of Trade closed higher on Monday amid technical fund buying, firm cash markets and commercial bull-spreading, traders said.

Published 07 Dec, 2005 12:00am

Market expects big crop in Canada grain report

Canada's official report on the 2005 grain harvest, due on Wednesday, is unlikely to have much effect on commodities markets because a big crop has already been factored into prices, traders said.

Published 07 Dec, 2005 12:00am

Asian rubber: Indonesia sells SIR20, eyes on China

Indonesia sold some tyre-grade SIR20 rubber to Singapore dealers on Tuesday, but trading was muted in other producing countries in Southeast Asia despite expectations of more buying by China.

Published 07 Dec, 2005 12:00am

Malaysian palm oil futures higher, eyes on exports

Malaysia's crude palm oil futures extended gains in active trade on Tuesday on technical buying and expectations of better exports in December.

Published 07 Dec, 2005 12:00am

Ministers voice hope of no more ECB rate hikes

The European Central Bank told euro zone finance ministers at a Monday dinner that its interest rate rise last week was not one of a series, replying to concerns that further hikes would damage the nascent economic recovery.

Published 07 Dec, 2005 12:00am

Microsoft plans 30 new innovation centres

Microsoft Corp said on Tuesday it would set up 30 new innovation centres around the world, adding to its existing 60, in partnership with local governments, academic institutions and industry organisations.

Published 07 Dec, 2005 12:00am

US productivity strong, factory orders up

US business productivity grew swiftly in the third quarter and factory orders rebounded in October, the government said on Tuesday, suggesting a robust economy with little price pressure outside of energy costs.

Published 07 Dec, 2005 12:00am

US and Europeans believe free trade cuts jobs: poll

A majority of people in the United States and most of Europe's big countries believe free trade cuts local jobs and mainly benefits multinationals and economies such as China and India, a survey showed on Tuesday.

Published 07 Dec, 2005 12:00am

Russia may soften capital controls from 2006

Russia may soften limits on capital transactions from next year, a year earlier than planned, Finance Minister Alexei Kudrin said on Tuesday.

Published 07 Dec, 2005 12:00am

Congress may reject WTO duty-free farm deal

A proposed deal by global trade ministers to give duty-free access to the world's poorest nations may not be accepted by the US Congress if it does not open up new markets for American farmers, a top US senator said on Tuesday.

Published 07 Dec, 2005 12:00am

Ericsson signs key deal with 3 UK

Mobile phone equipment maker Ericsson has signed its biggest ever managed services deal with British operator 3 UK, the Swedish company said on Tuesday.

Published 07 Dec, 2005 12:00am

Chinese government economist sees 9.2 percent GDP growth in 2006

China's economy is likely to grow 9.2 percent in 2006, riding on export growth of over 20 percent and investment growth of 20 percent, the China Securities Journal on Tuesday quoted a senior government economist as saying.

Published 07 Dec, 2005 12:00am

EU fails to agree on reduced VAT rates amid German resistance

EU finance ministers failed to agree Tuesday on a list of services to benefit from exceptionally low value added tax, with the incoming German government blocking a deal particularly important to France.

Published 07 Dec, 2005 12:00am

UK manufacturing fall casts doubt on growth prospects

British manufacturing output unexpectedly fell at its sharpest pace in seven months in October, putting pressure on finance minister Gordon Brown's new economic growth forecasts.

Published 07 Dec, 2005 12:00am

HBOS to wipe out pension deficit as earnings cheer

UK bank HBOS Plc said on Tuesday it planned to wipe out its 1.8 billion pound pension deficit and its 2005 earnings were likely to beat market expectations due to cost controls and growth at its insurance and investment units.

Published 07 Dec, 2005 12:00am

US lobbied against World Bank guarantee for Iran

As the World Bank prepared to approve its first guarantee for an investment in Iran, the United States lobbied hard to convince other member countries to oppose the move.

Published 07 Dec, 2005 12:00am

Australian trade deficit narrows as exports rise

Australia's trade deficit improved 15 percent in October as strong global demand for commodities boosted exports and softening consumer demand slowed import growth, economists said Tuesday.

Published 07 Dec, 2005 12:00am

HSBC opens $31 million call centre in Sri Lanka

Global banking giant HSBC formally launched Tuesday a 31-million-dollar call centre in Sri Lanka as violence flared in the north of the island, officials said.

Published 07 Dec, 2005 12:00am

German October orders data boost hopes for fourth quarter GDP

German manufacturing orders rose much more than expected in October, boosted by an above-average number of big-ticket items and as the weaker euro helped underpin foreign demand, preliminary data showed on Tuesday.

Published 07 Dec, 2005 12:00am

ITV buys Friends Reunited for 175 million pounds

ITV, Britain's biggest commercial TV network, on Tuesday snapped up Friends Reunited for 175 million pounds (258 million euros, 304 million dollars) from the website group's founders and employees.

Published 07 Dec, 2005 12:00am

Deutsche poised for Russian IPO boom with bank buy

Deutsche Bank looks well placed to cash in on a Russian IPO boom expected to accelerate dramatically in 2006, thanks to the local bank buyout it announced late on Monday.

Published 07 Dec, 2005 12:00am

Deutsche poised for Russian IPO boom with bank buy

Deutsche Bank looks well placed to cash in on a Russian IPO boom expected to accelerate dramatically in 2006, thanks to the local bank buyout it announced late on Monday.

Published 07 Dec, 2005 12:00am

Putin guest at Asean summit

Russian President Vladimir Putin will travel to Malaysia next week as part of the first Russia-Asean summit and to take part as a guest at the regular East Asian summit, the Kremlin said Tuesday.

Published 07 Dec, 2005 12:00am

Uzbekistan to sign Gazprom deal

Uzbekistan in March will sign a production sharing agreement worth nearly one billion dollars (849 million euros) with Russian energy giant Gazprom to develop gas fields in the west of the Central Asian country, the deputy head of the state energy company

Published 07 Dec, 2005 12:00am

Brunei's economy expands 1.7 percent in June quarter: government

Brunei's oil-based economy expanded 1.7 percent in the June quarter from a year ago, with a drop in production offset by the hefty increase in crude prices, the government said Tuesday.

Published 07 Dec, 2005 12:00am

Malaysia approves nine licences to build bio-diesel plants

Malaysia said Tuesday it has approved nine licences to build bio-diesel plants here, including to foreign investors, as demand for alternative fuel rises amid skyrocketing oil prices.

Published 07 Dec, 2005 12:00am

Malaysian shares slightly changed

Malaysian share prices closed flat on Tuesday in quiet trade amid an absence of market-stimulating leads and following another poor lead from Wall Street overnight, dealers said.

Published 07 Dec, 2005 12:00am

Hong Kong shares decline

Hong Kong stocks ended lower on Tuesday following a decline in overseas markets after crude oil prices rebounded, sparking worry that higher energy costs will crimp consumer spending and raise business costs.

Published 07 Dec, 2005 12:00am

US stocks fall on oil's rise; chip makers falter

US stocks declined on Monday after the price of crude oil rebounded, briefly hitting a one-month high above $60 a barrel and pushing shares of retailers and industrial companies lower, while semiconductors fell on concerns about profits.

Published 07 Dec, 2005 12:00am

Singapore shares drop

Singapore share prices closed 1.04 percent lower on Tuesday on profit-taking in blue chips led by phone giant Singapore Telecommunications, dealers said.

Published 07 Dec, 2005 12:00am

US Treasuries slip as strong economic data damp Fed hopes

US Treasury debt prices fell on Monday after a strong reading on the huge US service sector gave the market no evidence to support the idea that the Federal Reserve needed to stop raising interest rates.

Published 07 Dec, 2005 12:00am

US Treasuries slip as strong economic data damp Fed hopes

Published 07 Dec, 2005 12:00am

Taiwan stocks end flat

Taiwan stocks closed flat on Tuesday as a warning from Goldman Sachs about oversupply in the display panel industry dragged down the shares of manufacturers like AU Optronics Corp.

Published 07 Dec, 2005 12:00am

Philippines shares tumble

Philippines share prices closed 0.81 percent lower on Tuesday on a pick up in political tensions and higher-than-expected inflation in November, dealers said.

Published 07 Dec, 2005 12:00am

Jakarta share prices soar

Indonesian share prices closed 0.25 percent higher on Tuesday, after a cabinet reshuffle raised hopes for the economy and Bank Indonesia delivered a rate hike in line with expectations, dealers said.

Published 07 Dec, 2005 12:00am

Nikkei ends lower as techs fall, Kao gains

Japan's Nikkei share average dropped 0.82 percent on Tuesday as Advantest Corp and other technology shares were sold on concern that their prices had risen too rapidly during the benchmark's run to a five-year high.

Published 07 Dec, 2005 12:00am

Chinese shares up

China's shares closed up 0.8 percent on Tuesday as investors sought bargains among index heavyweights such as Baoshan Iron and Steel Co Ltd and China United Telecommunications Corp.

Published 07 Dec, 2005 12:00am

Thai shares jump 2.92 percent

Thai share prices soared 2.92 percent on Tuesday due to an easing of political tensions, a significant gain in the energy sector and positive third quarter economic figures, dealers said.

Published 07 Dec, 2005 12:00am

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 65.95-66.00 (previous 65.87-65.93). Call Money Rates: 5.15-13.25 percent (previous 6.50-13.25 percent).

Published 07 Dec, 2005 12:00am

Yuan closes at post-reval high versus dollar

China's yuan strengthened to close at a post-revaluation high of 8.0780 to the dollar on Tuesday as the central bank stayed out of the market, dealers said.

Published 07 Dec, 2005 12:00am

Swiss franc rises versus dollar and euro

The Swiss franc inched higher against the dollar and the euro early on Tuesday as dealers scanned markets for fresh impulses ahead of a Swiss interest rate decision next week, set to make the franc dearer.

Published 07 Dec, 2005 12:00am

Yen pounded to lows versus euro

The yen sank to an all-time low against the euro and hit multi-year troughs versus a host of high-yielding currencies on Tuesday as investors eyed the yawning interest rate gap between Japan and other nations.

Published 07 Dec, 2005 12:00am

Dollar falls on profit-taking; euro/yen sets record

The dollar sagged against major European currencies on Monday, pushed down after its inability in the last three weeks to hit new highs against the euro triggered a bout of profit-taking.

Published 07 Dec, 2005 12:00am

Hong Kong dollar softens

The Hong Kong dollar softened on Tuesday but demand for a series of share offerings in the territory provided support. The local currency hit a session low of 7.7550 before pulling back to 7.7542/43 per US dollar softer than 7.7535/38 in late Asian trade

Published 07 Dec, 2005 12:00am

Asian currencies broadly firm, rupiah in focus after rate move

Asian currencies were broadly firm against the dollar on Tuesday, boosted by gains in regional equities and optimism about economic growth in the region.

Published 07 Dec, 2005 12:00am

New Zealand attempts to save one-day series

New Zealand believes it can save the one-day cricket series against Australia here on Wednesday following a dismal showing in the first of the three-match series.

Published 07 Dec, 2005 12:00am

South Africa wilt as hosts force follow-on

South Africa's batting was ripped apart here on Tuesday by a Western Australian bowling attack which has struggled in the Australian domestic competition this season and included a player drafted from club level.

Published 07 Dec, 2005 12:00am

Shoaib Akhtar a transformed talent

England one-day specialist Vikram Solanki has praised Shoaib Akhtar for reinventing himself as a lethal Test bowler in the series triumph over England.

Published 07 Dec, 2005 12:00am

Vaughan to miss one-day series

England cricket captain Michael Vaughan will miss the one-day series against Pakistan as he undergoes an exploratory operation on his injured knee.

Published 07 Dec, 2005 12:00am

Five small ETA blasts in Madrid, no injuries

Armed Basque separatist group ETA exploded five small bombs on motorways around Madrid on Saturday as Spain celebrated the 27th anniversary of its constitution with a ceremony in the parliament building.

Published 07 Dec, 2005 12:00am

Competition bids to revive lost art of love letter

Love may be in the air but it is no longer in the mail, according to a new competition to revive the lost art of love letter writing. Run for the first time last year in the United States when it attracted 5,000 entries, philanthropist Henri Zimand's comp

Published 07 Dec, 2005 12:00am

UK Conservatives opt for youth to challenge Blair

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	143.85
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 20	5,702.55
India Sensex / Sep 20	83,184.80
Tokyo Nikkei / Sep 20	37,723.91
Nasdaq / Sep 20	17,948.32
Hang Seng / Sep 20	18,258.57
FTSE 100 / Sep 20	8,229.99
Dow Jones / Sep 20	42,063.36
Germany DAX 30 / Sep 20	18,720.01

Item	Value
Crude Oil USD/Barrel / Sep 20	71.92
Karachi Cotton PKR/37.32 KG / Sep 20	18,935
Gold 10 Grams PKR / Sep 20	233,196
Gold Spot USD/Ounce / Sep 20	2,621.88
Cotton US¢/pound / Sep 20	73.52
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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