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Print - 2006-03-04
US cotton weekly export sales highlights

US cotton weekly export sales highlights

USDA cotton export sales highlights for latest reporting week: Net Upland sales of 100,900 RB were 63 percent below the previous week and 75 percent under the prior 4-week average.
Published 04 Mar, 2006 12:00am
Soya rallies above key averages, meal supports

Soya rallies above key averages, meal supports

The Chicago Board of Trade (CBoT) soyabean market rallied on Thursday, surpassing its 100- and 50-day moving averages, on a technical bounce after its recent fall, traders said.
Published 04 Mar, 2006 12:00am
New York sugar firmer as trade stays choppy

New York sugar firmer as trade stays choppy

Raw sugar futures settled near session highs Thursday on trade and speculative buying as traders waited for news to provide the market with direction on its next move, brokers said.
Published 04 Mar, 2006 12:00am
Indian soya oil extends gains

Indian soya oil extends gains

Indian soya oil consolidated gains on Friday on higher demand and a revision in base import prices of edible oils, while sugar extended a fall with more supplies arriving in the domestic market.
Published 04 Mar, 2006 12:00am
Opec surplus production two million barrels a day

Opec surplus production two million barrels a day

Opec is producing a surplus of about two million barrels per day, the oil cartel's president Edmond Daukoru said Friday. Daukoru did not say whether the organisation should cut its production by a similar amount as it heads into its meeting next week in V
Published 04 Mar, 2006 12:00am
Oil posts gains in Asian trade for fourth day

Oil posts gains in Asian trade for fourth day

Oil prices rose for the fourth day in a row on Friday as dealers narrowed their focus to persistent geopolitical supply concerns, ignoring bloated US stocks.
Published 04 Mar, 2006 12:00am
APHC urges Bush to push for demilitarisation

APHC urges Bush to push for demilitarisation

A freedom fighters alliance in revolt-hit Indian occupied Kashmir urged visiting US President George W. Bush on Friday to push nuclear-armed India and Pakistan to demilitarise their zones of scenic Kashmir.
Published 04 Mar, 2006 12:00am
CBOT rice ends firm

CBOT rice ends firm

Chicago Board of Trade rough rice futures closed higher on Thursday, recovering from a weak open after the market held a key support level, traders said.
Published 04 Mar, 2006 12:00am
Italian president rejects 100 million euro bird flu fund

Italian president rejects 100 million euro bird flu fund

The Italian government's 100 million euro ($120.2 million) plan to help its poultry sector survive the bird flu crisis was rejected by President Carlo Azeglio Ciampi on Friday due to lack of funds.
Published 04 Mar, 2006 12:00am
Silver matches 22-year high on ETF hopes

Silver matches 22-year high on ETF hopes

Silver rose on Friday to match a 22-year high struck on Thursday, boosted by hopes that an exchange traded fund will be approved by US regulators and draw fresh investment to the market.
Published 04 Mar, 2006 12:00am
46 countries ban French poultry over bird flu

46 countries ban French poultry over bird flu

The number of non-EU countries that have slapped bans or restrictions on French poultry exports after an outbreak of bird flu had grown to 46 by Friday, the French trade ministry said.
Published 04 Mar, 2006 12:00am
Tocom gold higher on New York rise, silver up limit

Tocom gold higher on New York rise, silver up limit

Tokyo gold futures' key contract climbed as much as 1.7 percent on Friday, tracking the rise in New York, but it later gave up some of its gains as worries about currency market direction weighed on sentiment.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Silver settles up in New York

Silver settles up in New York

US silver futures vaulted to a 22-year high on Thursday, amid aggressive commodity fund buying that boosted the precious metal over $10 an ounce ahead of a widely expected approval of a silver exchange-traded fund (ETF), sources said.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Comex copper extends gains

Comex copper extends gains

US copper futures finished on Thursday with strong gains, adding to a day-earlier rally amid continued fund buying as the widespread strike at Mexico's mines and refineries entered its third day, traders said.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Rain in US Plains likely too late for some wheat

Rain in US Plains likely too late for some wheat

Forecasts for rain in the US Plains were providing fresh hope for many US winter wheat farmers whose new crop has been hard hit by drought, but some wheat is too damaged to benefit much, wheat experts said on Thursday.
Published 04 Mar, 2006 12:00am
More yuan flexibility needed in China: Snow

More yuan flexibility needed in China: Snow

US Treasury Secretary John Snow said on Friday that Beijing needed to make more progress toward currency flexibility, and China's growing global role brought with it greater responsibility.
Published 04 Mar, 2006 12:00am
Chinese shares up

Chinese shares up

Chinese shares closed 0.59 percent higher in the last trading session of the week as institutional players rebuilt their positions in top Asian refiner Sinopec Corp.
Published 04 Mar, 2006 12:00am
Nikkei ends down after CPI, property shares hit

Nikkei ends down after CPI, property shares hit

The Nikkei average fell 1.55 percent on Friday as stronger-than-expected consumer price data raised concerns about a rise in borrowing costs, sending down Mitsubishi Estate Co Ltd and other property shares.
Published 04 Mar, 2006 12:00am
Thai shares close flat

Thai shares close flat

Thai share prices closed flat on Friday as investors adopted a wait-and-see stance ahead of major mass political rallies to be held during the weekend, dealers said.
Published 04 Mar, 2006 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 0.34 percent lower on Friday as profit-taking set in after a four-day rally, dealers said. They said the market was due for a correction after four days of gains, as investors had taken account of President Gloria Arroyo's
Published 04 Mar, 2006 12:00am
Malaysian shares sag

Malaysian shares sag

Malaysian share prices closed 0.31 percent lower on Friday following Wall Street's lacklustre performance overnight and on concerns over inflation after fuel price hikes, dealers said.
Published 04 Mar, 2006 12:00am
US Treasuries slide on rate hike concerns

US Treasuries slide on rate hike concerns

US Treasury debt prices fell on Thursday after an interest-rate hike in Europe and a subdued trend in new US jobless claims underscored the outlook for more Federal Reserve rate hikes.
Published 04 Mar, 2006 12:00am
US Treasuries slide on rate hike concerns

US Treasuries slide on rate hike concerns

US Treasury debt prices fell on Thursday after an interest-rate hike in Europe and a subdued trend in new US jobless claims underscored the outlook for more Federal Reserve rate hikes.
Published 04 Mar, 2006 12:00am
Hong Kong shares fall

Hong Kong shares fall

Hong Kong blue chips edged down on Friday as the Tokyo Nikkei average, which fell 1.55 percent, unsettled investors ahead of a raft of earnings reports due next week.
Published 04 Mar, 2006 12:00am
Singapore shares slightly higher

Singapore shares slightly higher

Singapore share prices defied a generally weaker regional trend and closed 0.53 percent higher on Friday, driven by gains in China-linked stocks, dealers said.
Published 04 Mar, 2006 12:00am
Taiwan stocks close lower

Taiwan stocks close lower

The Taiwan stock market fell 1.34 percent on Friday as Wall Street declined overnight on rising oil prices which dragged down shares like heavyweight Taiwan Semiconductor Manufacturing Co.
Published 04 Mar, 2006 12:00am
US won't push to privatise Dubai Ports World: USTR

US won't push to privatise Dubai Ports World: USTR

US trade officials have no plans to push for the privatisation of state-owned Dubai Ports World in free trade talks with the United Arab Emirates, the US Trade Representative's office said on Thursday.
Published 04 Mar, 2006 12:00am
Indonesia unveils investment policy package

Indonesia unveils investment policy package

The Indonesian government has announced a package of policies aimed at improving the investment climate, including a revision of the investment law, Economic Affairs Minister Budiono said.
Published 04 Mar, 2006 12:00am
Jakarta shares led by mining stocks

Jakarta shares led by mining stocks

Indonesian share prices closed 0.93 percent higher on Friday led by mining stocks, with blue chip Astra International extending its gains on hopes of better car sales, dealers said.
Published 04 Mar, 2006 12:00am
Europe counts cost of bird flu, fresh cases emerge

Europe counts cost of bird flu, fresh cases emerge

Europe's poultry industry counted the multi-million-dollar cost of the spread of bird flu in lost sales on Friday after US agencies urged more funds to fight a possible deadly human pandemic that could kill millions.
Published 04 Mar, 2006 12:00am
Intel chips to power Microsoft device

Intel chips to power Microsoft device

Intel Corp will supply chip technology for a new portable media device, under development with Microsoft Corp, which will be unveiled next week, the New York Times reported on Friday.
Published 04 Mar, 2006 12:00am
India, Sri Lanka could rival Singapore as ship fuel hub

India, Sri Lanka could rival Singapore as ship fuel hub

Ports in southern India and Sri Lanka have the potential to rival Singapore's dominance as Asia's shipping and marine fuels hub, if infrastructure concerns are overcome, a top shipping agent said on Friday.
Published 04 Mar, 2006 12:00am
Eurozone economy to pick up this year: EU

Eurozone economy to pick up this year: EU

Eurozone economic growth may rebound more strongly than expected this year, the European Commission said on Friday, as data showed a drop in consumer demand and strong imports were behind weak growth at the end of 2005.
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
EU turns up heat over French energy merger

EU turns up heat over French energy merger

The European Commission gave France a two-week ultimatum on Friday to explain events that may have broken EU law leading up to a state-engineered merger of Gaz de France and Suez to create a "national energy champion".
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
Industry global PMI hits 19-month high

Industry global PMI hits 19-month high

Global manufacturing and service sector activity grew at the fastest pace in 19 months in February, enabling companies to crank up staff levels, an indicator based on national PMI surveys showed on Friday.
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
US consumer sentiment weaker

US consumer sentiment weaker

US consumer sentiment in February finished weaker than January on worries about the economy, which could crimp future spending, a report showed on Friday.
Published 04 Mar, 2006 12:00am
Rs 5 million reward announced

Rs 5 million reward announced

Sindh Home Minister Rauf Siddiqui on Friday announced prize money of Rs 5 million for the person, who would provide concrete evidence and assist arresting the culprits involved in March 02 bomb blast in Karachi.
Published 04 Mar, 2006 12:00am
Financial help for five ailing writers approved

Financial help for five ailing writers approved

Sindh Minister for Education and Literacy, Dr Hamida Khuhro, being Chairperson of Sindh Adabi Board, has sanctioned an amount of Rs 50,000 as a token financial help for five ailing writers of Sindhi literature.
Published 04 Mar, 2006 12:00am
Funds provided for repair of tubewells lying idle

Funds provided for repair of tubewells lying idle

Provincial government has provided funds for repair of tubewells lying idle in the district. The District Assembly Sanghar was given this information which met under the convenership of Naib Nazim Dr Mahmood Ahmed Rajput on Thursday.
Published 04 Mar, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (March 03, 2006).

Published 04 Mar, 2006 12:00am
Catholic Association condemns bomb blast

Catholic Association condemns bomb blast

Catholic Association President Herbert Fernandes has condemned the bomb blast near US Consulate took place on Thursday morning. He, in a statement here on Friday, said those involved in the acts of terrorism and causing damage to the human lives and publi
Published 04 Mar, 2006 12:00am
Notice issued to interior ministry

Notice issued to interior ministry

The Sindh High Court on Friday issued a notice to the Federal Interior Ministry for March 22, 2006 on petition of lawyer against the ban on his travelling for abroad. Furrukh Niaz submitted that FIA had placed his name in exit control list without issuing
Published 04 Mar, 2006 12:00am
ABN Amro and Oasis Travels ink deal

ABN Amro and Oasis Travels ink deal

Mir Nejib Rahman, Country Consumer Head of ABN Amro Bank and Naveed A Siddiqui, President & CEO of Oasis Travels signed an agreement to commemorate the alliance which entails an exclusive travel arrangement for ABN Amro Van Gogh-preferred banking customer
Published 04 Mar, 2006 12:00am
TeleCard offers cost-effective telecom solutions

TeleCard offers cost-effective telecom solutions

TeleCard's WLL service is playing a key role in the social and economic development of the country. The company has instituted a Special Business Unit (SBU) targeting corporate and SME clients along with facilitating the voice and data requirements of the
Published 04 Mar, 2006 12:00am
THE RUPEE: slight fall in interbank market

THE RUPEE: slight fall in interbank market

Marginal fall was seen in the interbank market on Friday with the rupee's modest slide versus the dollar, falling three paisa on the buying side at 59.94 and two paisa for selling at 59.95, monetary observers said.
Published 04 Mar, 2006 12:00am
Blast termed conspiracy against progress

Blast termed conspiracy against progress

City Nazim Syed Mustafa Kamal on Thursday strongly condemned the bomb blast and said that terrorist elements wanted to sabotage the large development work in Pakistan, particularly in Karachi through such heinous acts.
Published 04 Mar, 2006 12:00am
THE RUPEE: slight fall in interbank market

THE RUPEE: slight fall in interbank market

Marginal fall was seen in the interbank market on Friday with the rupee's modest slide versus the dollar, falling three paisa on the buying side at 59.94 and two paisa for selling at 59.95, monetary observers said.
Published 04 Mar, 2006 12:00am
Eight hurt in roof collapse

Eight hurt in roof collapse

Eight persons including women were injured when the roof of a house collapsed at Pakki Thathi, Samanabad area here on Friday. Police said that people were sitting in the house of Allah Rakha for the condolence over the death of his son when suddenly the r
Published 04 Mar, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 03, 2006).

Published 04 Mar, 2006 12:00am
Federer plays Nadal in Dubai Open final

Federer plays Nadal in Dubai Open final

Roger Federer and Rafael Nadal, the top two players in the world, will clash for the first time since the French Open semi-finals in the Dubai Open final on Saturday.
Published 04 Mar, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (March 03, 2006).

Published 04 Mar, 2006 12:00am
Four of a family killed in accident

Four of a family killed in accident

Four persons of a family were killed in a road accident near Kot Pindidas Motorway, about 26 km from here on Friday, police said.
Published 04 Mar, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (March 03, 2006).

Published 04 Mar, 2006 12:00am
LHC adjourns former chief secretary's ECL case

LHC adjourns former chief secretary's ECL case

Lahore High Court (LHC) on Friday adjourned for March 13 hearing of a petition of an ex-chief secretary Punjab seeking deletion of his name from the exit control list (ECL). Earlier, Deputy Attorney General requested for time to seek instructions from the
Published 04 Mar, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (March 03, 2006).

Published 04 Mar, 2006 12:00am
Spanish dental equipment available in Pakistan

Spanish dental equipment available in Pakistan

A leading Spanish medical company has agreed to sell its electro-medical equipment in Pakistan. 'Fedesa,' the manufacturer of dental equipment has entered into an agreement with Ross Brothers Limited to market its products in Pakistan.
Published 04 Mar, 2006 12:00am
Trade leader passes away

Trade leader passes away

Renowned trade leader and former member provincial Majlis-e-Shoora, Siraj Qureshi died of cardiac arrest here on Friday. He was 63.
Published 04 Mar, 2006 12:00am
Traders urge Bush to lift sanctions against Pakistan

Traders urge Bush to lift sanctions against Pakistan

Business community here has urged US President George W Bush to announce lifting of all economic sanctions during his visit, to provide direct free market access to Pakistani exporters. Top business leaders in a joint statement here urged the US President
Published 04 Mar, 2006 12:00am
Sugar to be imported from India, other countries

Sugar to be imported from India, other countries

Pakistan will import sugar from other countries besides India to meet the future domestic requirement. Trading Corporation of Pakistan Chairman Asif Zaman stated this while talking to a private TV channel.
Published 04 Mar, 2006 12:00am
Canada to provide Rs 3 billion in education sector

Canada to provide Rs 3 billion in education sector

Secretary Education Sajid Hasan said on Friday that Canada would provide Rs 3 billion in the field of education particularly to impart training to the teachers. He said education standard would be raised across the country, a private TV channel reported.
Published 04 Mar, 2006 12:00am
Arrangements for pollen allergy camp reviewed

Arrangements for pollen allergy camp reviewed

Chief Commissioner, Islamabad Khalid Pervez on Friday reviewed the arrangements made for pollen allergy treatment camp to be held on March 5 at Aabara Community centre.
Published 04 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 04 Mar, 2006 12:00am
British parliamentarian calls on Wasi

British parliamentarian calls on Wasi

British parliamentarian, Lord Alex Carlile along with his delegation called on Federal Minister for Law, Justice and Human Rights Wasi Zafar here on Friday. During the meeting, both sides exchanged views on anti-terrorism laws in their countries.
Published 04 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 04 Mar, 2006 12:00am
No bird flu virus detected in Faisalabad

No bird flu virus detected in Faisalabad

Faisalabad livestock district officer said no bird flu virus had been detected in the district hence there is not need to get unnecessarily alarmed or panicky about the false rumours regarding the disease.
Published 04 Mar, 2006 12:00am