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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2006-03-07
Japan's last gold mine shines as bullion rallies

Japan's last gold mine shines as bullion rallies

A treasure worth nearly $3 billion lies buried beneath the rice paddies and rolling hills near this sleepy little southern Japanese town. But the company operating Japan's last gold mine says it is in no rush to increase production, even after bullion pri
Published 07 Mar, 2006 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 07 Mar, 2006 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 07 Mar, 2006 12:00am
Progress of payment to quake victims reviewed

Progress of payment to quake victims reviewed

Minister of State for Finance Omar Ayub Khan has directed the banks to reduce time for opening of accounts and encashment of cheques of earthquake affectees. He gave these directions in a meeting here on Monday with senior representatives of banks includi
Published 07 Mar, 2006 12:00am
Pace of power meters supply reviewed

Pace of power meters supply reviewed

A meeting between officials of Punjab Agriculture department and Wapda was held here on Monday to review the pace of supply of electric meters to farmers on subsidised rates.
Published 07 Mar, 2006 12:00am
Oil cake market rates

Oil cake market rates

Futures posted fresh gain on the forward cottonseed oilcake market on Monday due to increased purchasing to meet the future needs, they said. The March vaida opened unchanged at Rs 485.00.
Published 07 Mar, 2006 12:00am
Prices fall as TCP enters into market

Prices fall as TCP enters into market

Prices started showing downfall in the cotton market on Monday with the entry of the Trading Corporation Pakistan (TCP) to dispose of cotton from its unsold stock, dealers said.
Published 07 Mar, 2006 12:00am
Bulgaria cuts wheat estimate

Bulgaria cuts wheat estimate

Bulgaria's agriculture ministry said on Monday that bad weather and delayed sowings would cut the 2006 wheat harvest to 2.8-3.0 million tonnes, compared with 3.46 million in 2005.
Published 07 Mar, 2006 12:00am
Irri white lower on grain market

Irri white lower on grain market

Thin business was seen on the grain market on Monday as the main participants remained on the sidelines due to satisfactory position on the supply side, dealers said.
Published 07 Mar, 2006 12:00am
Ivorian cocoa arrivals seen rising

Ivorian cocoa arrivals seen rising

This season's cocoa arrivals at Ivory Coast's ports reached around 887,000 tonnes by March 5 as the main crop continued to slow despite firm prices, but hopes are rising for a strong mid-crop, exporters said on Monday.
Published 07 Mar, 2006 12:00am
Brazilian coffee set for further favourable rains

Brazilian coffee set for further favourable rains

Brazil's coffee belt will have further rain this week as a cold front moves northward, private forecaster Somar said on Monday. The key south Minas coffee area, which has already had some 70 millimeters (2.8 inches) of rain this month, will have another 5
Published 07 Mar, 2006 12:00am
Copper softer as weak charts in focus after strike

Copper softer as weak charts in focus after strike

Copper futures edged lower on Monday as concerns over supplies eased after the end of a strike at producer Grupo Mexico last week, which spurred sporadic selling based on deteriorating technical sentiment.
Published 07 Mar, 2006 12:00am
Thai importers buy Argentine soyameal

Thai importers buy Argentine soyameal

Thai importers have bought Argentine soyameal for shipment in March and April, but are not in a hurry to buy more because of bird flu concerns, traders said on Monday.
Published 07 Mar, 2006 12:00am
Vietnam grows more sugar cane as prices rise

Vietnam grows more sugar cane as prices rise

Rising sugar cane prices in Vietnam have prompted Mekong Delta farmers to shift to growing cane from tending Logan farms or shrimp ponds, officials said on Monday, amid forecasts that the country would be short at least 200,000 tonnes of sugar this year.
Published 07 Mar, 2006 12:00am
China to shut small steel mills, urge mergers

China to shut small steel mills, urge mergers

Beijing will shut small steel mills and encourage big and mid-sized domestic mills to merge, but would not look as kindly at acquisitions by foreign producers, a senior industry official told Reuters on Sunday.
Published 07 Mar, 2006 12:00am
ONIC to raise French maize stocks

ONIC to raise French maize stocks

French grains office ONIC will this week raise its estimate of the country's end-season maize stocks on lower sales to other European Union members and a drop in feed usage due to bird flu, traders said on Monday.
Published 07 Mar, 2006 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

Spot basis bids for hard red winter wheat were steady to firmer on Monday, with wheat demand noted in some spot locations but the market maintaining a largely lacklustre tone, merchants said.
Published 07 Mar, 2006 12:00am
US Midwest bids for soya and corn mostly unchanged

US Midwest bids for soya and corn mostly unchanged

Spot basis bids for soyabeans and corn were mostly unchanged around the US Midwest early on Monday but a downturn in overnight futures trading was expected to erode cash prices and chill prospects for farmer sales, grain dealers said.
Published 07 Mar, 2006 12:00am
Singapore bunker fuel prices lower

Singapore bunker fuel prices lower

Singapore bunker prices were lower on Monday with the differential to cargo values falling to a slight discount, as sellers undercut each to attract buying interest, traders said.
Published 07 Mar, 2006 12:00am
Pacific Basin Shipping year net profit up 42 percent

Pacific Basin Shipping year net profit up 42 percent

Asia-focused bulk shipping line Pacific Basin Shipping Ltd said on Monday that its 2005 net profit rose 42 percent amid robust regional trade, although weaker freight rates dampen the near-term outlook.
Published 07 Mar, 2006 12:00am
NOL sees first drop in cargo in 30 months

NOL sees first drop in cargo in 30 months

Neptune Orient Lines, the world's sixth-biggest container liner, in January recorded the first decline in the number of containers carried on its ships in two-and-a-half years in the latest sign that the shipping industry is heading for a downturn.
Published 07 Mar, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 140,649 tonnes of cargo including 105,245 tonnes import and 35,404 tonnes export cargo including 1,238 containers during last 48 hours ending at 0700 hours on Monday.
Published 07 Mar, 2006 12:00am
South Korea buys Chinese rice

South Korea buys Chinese rice

South Korea's state-run Agricultural and Fishery Marketing Corporation said on Monday it had bought 12,767 tonnes of Chinese milled rice via a tender closed last week.
Published 07 Mar, 2006 12:00am
General Motors rallies on Suzuki sale; sentiment warms

General Motors rallies on Suzuki sale; sentiment warms

Bonds of troubled US automaker General Motors Corp rallied in Europe on Monday in a thinly traded session after the company said it would sell most of its stake in Suzuki Motor Corp.
Published 07 Mar, 2006 12:00am
Khaksar Tehrik leader laid to rest

Khaksar Tehrik leader laid to rest

Khaksar Tehrik leader Khan Muhammad Ashraf Khan (73), who died of heart attack on Sunday, was laid to rest on Monday. A large number of lawyers, politicians, workers, traders, ulema and citizens attended the funeral prayers.
Published 07 Mar, 2006 12:00am
Interfaith harmony

Interfaith harmony

On the instructions of Pope John Paul, a delegation of Muslim-Christians Co-ordination Committee headed by Bishop Dr Andrew Francis called on Allama Hamid Saeed Kazmi, Chief of Ahl-e-Sunnat Jamaat Pakistan on Monday.
Published 07 Mar, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (March 06, 2006) and for Tuesday (March 07, 2006).
Published 07 Mar, 2006 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 07 Mar, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (March 06, 2006).

Published 07 Mar, 2006 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 07 Mar, 2006 12:00am
'All banks to start BBAs in 10 days'

'All banks to start BBAs in 10 days'

Following National Bank of Pakistan and Agricultural Development Bank of Pakistan, all other banks will start the opening of Basic Banking Accounts in the next few days, Pakistan Banks Associations Chairman Naveed A Khan said while talking to a private TV
Published 07 Mar, 2006 12:00am
Senate win boosts PML: Pervaiz

Senate win boosts PML: Pervaiz

Punjab Chief Minister Chaudhry Pervaiz Elahi has said that the Pakistan Muslim League would emerge as a stronger and more vibrant political party as a result of its thumping victory in Senate elections.
Published 07 Mar, 2006 12:00am
Transporters observe strike in twin cities

Transporters observe strike in twin cities

Transporters strike in the twin-cities on Monday created insurmountable problems for the public in general and the government servants in particular.
Published 07 Mar, 2006 12:00am
Women journalists meeting on March 8

Women journalists meeting on March 8

The women journalists of the metropolis will hold a meeting at the Karachi Press Club on March 8 at 01 pm to mark the International Women's Day. A skit on peace has also been arranged on the occasion, says an announcement on Monday.
Published 07 Mar, 2006 12:00am
Result of suspected H5N1 virus test likely by March 8

Result of suspected H5N1 virus test likely by March 8

The result of the much awaited samples of H5N1 virus of the deadly 'bird flu' sent to National Reference Laboratory (NRL) Weybridge, England, are due on March 8, a senior animal health official at Veterinary Research Institute (VRI) Peshawar told Busin
Published 07 Mar, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (March 06, 2006).

Published 07 Mar, 2006 12:00am
Motions filed in National Assembly against use of gunships in Waziristan

Motions filed in National Assembly against use of gunships in Waziristan

The Muttahida Majlis-i-Amal (MMA) has filed two adjournment motions in the National Assembly: 1) About arrest of religious leaders and activists to prevent them from joining a rally on February 26 against publication of blasphemous cartoons in European ne
Published 07 Mar, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (March 06, 2006).

Published 07 Mar, 2006 12:00am
Pak-India working groups meeting dates announced

Pak-India working groups meeting dates announced

Pakistan and India have agreed to the much-awaited schedule of meetings of six working groups (WGs) which are part of the composite dialogue between the two countries, Foreign Office spokesperson Tasneem Aslam announced on Monday in her weekly news briefi
Published 07 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 07 Mar, 2006 12:00am
EU to allocate 431,333 euros for human rights projects

EU to allocate 431,333 euros for human rights projects

The ambassador and head of the delegation of European Commission to Pakistan, Ilkka Uusitalo, announced at a function here on Monday the allocation of 431,333 euros to support five projects in the field of human rights in the country.
Published 07 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 07 Mar, 2006 12:00am
The Weather

The Weather

The weather report on Monday (March 06, 2006) and the forecast for Tuesday (March 07, 2006).
Published 07 Mar, 2006 12:00am
Anti-polio campaign begins today

Anti-polio campaign begins today

A three-day country-wide national immunisation campaign against polio will start from Tuesday to administer oral anti-polio vaccine to more than 32 million children below five years of age. The campaign will continue for three days till March 9.
Published 07 Mar, 2006 12:00am
JUI leader's son held in dacoity case

JUI leader's son held in dacoity case

Maulana Nauman Rashid Ludhiyanvi son of JUI Punjab President Maulana Rashid Ahmed Ludhiyanvi, District President of Anjuman Talaba-i- Islam, Mian Asif Mahmood, and Sheraz alias Shera were arrested by Quetta police and recovered stolen mobile phones and pa
Published 07 Mar, 2006 12:00am
Foreign liquor seized

Foreign liquor seized

National Highways & Motorway Police (NHMP) seized a large quantity of foreign liquor and arrested one culprit near Wazirabad.
Published 07 Mar, 2006 12:00am
Water shortage in parts of Karachi

Water shortage in parts of Karachi

Some parts of city to face short supply of water on Tuesday and Wednesday due to development work being carried out on K-III project.
Published 07 Mar, 2006 12:00am
PSMA welcomes subsidised sugar decision

PSMA welcomes subsidised sugar decision

The Pakistan Sugar Mills Association (PSMA) supports the announcement of the Punjab chief minister to help and provide subsidised sugar to poor strata of society.
Published 07 Mar, 2006 12:00am
Three LHC clerks sacked

Three LHC clerks sacked

The Chief Justice of the Lahore High Court (LHC) has dismissed three clerks from their service and also stopped two annual increments of an assistant of the LHC. Those who were dismissed included Yasir Alvi, Arshad Hussain and Murad Haider Hashmi.
Published 07 Mar, 2006 12:00am
Schemes for tribal farmers initiated

Schemes for tribal farmers initiated

The government has initiated a programme aimed at capacity building of farmers of the tribal areas to enable them to harness the natural resources and equip them with improved technical know how to face the challenges and demands of the modern farming.
Published 07 Mar, 2006 12:00am
Hydroelectric project to be operational by December

Hydroelectric project to be operational by December

The work on gigantic 18MW hydroelectric project is in full swing and it will start functioning by the end of December 2006. Official sources in water and power department told APP on Monday that besides progress on power house work on laying of transmissi
Published 07 Mar, 2006 12:00am
ADR advantages highlighted

ADR advantages highlighted

Alternative dispute resolution (ADR) mechanism has greatly helped in resolving the disputes between taxpayers and Central Board of Revenue (CBR) as a major number of cases pending with the Board for a long time have been disposed of since the introduction
Published 07 Mar, 2006 12:00am
Need stressed for judicious use of irrigation water

Need stressed for judicious use of irrigation water

Farm scientists have expressed concern over the acute shortage of water and ever increasing menace of water-logging and salinity in Sindh and stressed the need for optimum and judicious use of irrigation water.
Published 07 Mar, 2006 12:00am
Pak-Oman JMC to discuss textile units plan

Pak-Oman JMC to discuss textile units plan

The possibility of establishing textile units on joint venture basis between Pakistani and Omani investors would be discussed during the fifth session of Pak-Oman Joint Ministerial Commission (JMC) meeting in Mascat.
Published 07 Mar, 2006 12:00am
Newsmen barred from attending Sindh Assembly session

Newsmen barred from attending Sindh Assembly session

Print and electronic media were restrained from attending to the proceedings of the Sindh Assembly on Monday under the instructions of Sindh Chief Minister Dr Arbab Ghulam Rahim.
Published 07 Mar, 2006 12:00am
Hearing in Qazi's plea put off

Hearing in Qazi's plea put off

The Lahore High Court (LHC) on Monday adjourned the proceedings in a petition challenging the detention of JI Ameer Qazi Hussain Ahmed till March 07, as law officer failed to produce any material pertaining to his detention.
Published 07 Mar, 2006 12:00am
Kite-flying Ordinance challenged

Kite-flying Ordinance challenged

The Lahore High Court (LHC) has issued notices and called for a report from provincial government in a petition challenging the Ordinance promulgated by the government allowing kite-flying. The court passed these orders in a petition filed by Lawyer's Wel
Published 07 Mar, 2006 12:00am
Saad sent on judicial remand

Saad sent on judicial remand

An anti-terrorist court has sent PML-N activist Khawaja Saad Rafiq MNA on judicial remand till March 18. Earlier SHO New Anarkali Police Station appeared before the court and sought for judicial remand of the accused. The court accepted his request.
Published 07 Mar, 2006 12:00am
Petition disposed of

Petition disposed of

The Lahore High Court (LHC) disposed of a petition challenging the detention of PML-N Punjab Secretary General Zaeem Qadri, as it has become infractuous.
Published 07 Mar, 2006 12:00am
World Water Day on March 22

World Water Day on March 22

The 'World Day for Water' will be observed on March 22 with the theme "Water for future needs."
Published 07 Mar, 2006 12:00am
Growth, export-oriented auto policy being framed

Growth, export-oriented auto policy being framed

The government has decided to share the vision of leading auto industrialists and economists to respond to the global challenges and framing a growth and export-oriented auto policy, Business Recorder learnt on Monday.
Published 07 Mar, 2006 12:00am
Non-implementation of Natpow policies criticised

Non-implementation of Natpow policies criticised

The National Assembly Standing Committee on Population Welfare criticised the ministry for not properly implementing policies of National Trust for Population Welfare (Natpow). The committee asked the ministry to set up a separate vigilant directorate to
Published 07 Mar, 2006 12:00am
Three deprived of Rs 1 million

Three deprived of Rs 1 million

Dacoits looted Rs 1 million at gun-point in the broad daylight from Rawal Chowk in the jurisdiction of Waris Khan Police Station, and made good their escape.
Published 07 Mar, 2006 12:00am
Imran offers mediation to solve Waziristan crisis

Imran offers mediation to solve Waziristan crisis

Cricketer turned politician Imran Khan condemned the fresh carnage in tribal areas on Monday and offered his mediation to find out a political solution of the crisis. Speaking at a news conference, Chairman Pakistan Tehreek-e-Insaf announced to launch a c
Published 07 Mar, 2006 12:00am
Amin rejects Musharraf's commitment for polls in 2007

Amin rejects Musharraf's commitment for polls in 2007

Opposition leader Amin Fahim has rejected President Pervez Musharraf's commitment to hold free and fair election next year, asserting that democratic forces would not take part in electoral process if Musharraf remained in power.
Published 07 Mar, 2006 12:00am
PML-N leader released

PML-N leader released

PML(N) Divisional General Secretary Waheed Murad, who was arrested a few days back, has been released by Civil Judge Zubair Shehzad Kiyani after declaring him innocent.
Published 07 Mar, 2006 12:00am
PFSSRP holds meeting

PFSSRP holds meeting

The Pakistan Financial Services Sector Reform Programme (PFSSRP) recently held a co-ordination and dialogue committee meeting on Entrepreneurship Development-Role of Industry and Academia.
Published 07 Mar, 2006 12:00am
KCCI seminar

KCCI seminar

The Karachi Chamber of Commerce and Industry (KCCI) has planned to hold a seminar to discuss problems faced by business community and formulate budget proposals for 2006-07 in the end of current month.
Published 07 Mar, 2006 12:00am
Nomination

Nomination

President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Chaudhry Muhammad Saeed has nominated Nadim Mehboob Magoon as co-chairman of Standing Committee on Fairs and Exhibition, says a press release.
Published 07 Mar, 2006 12:00am
Bush visit

Bush visit

Since US President George W Bush flew into Islamabad directly from New Delhi, where he had signed a civilian nuclear programme deal with Prime Minister Manmohan Singh, reinforcing the Indo-US 'strategic partnership' that began several years ago, there has
Published 07 Mar, 2006 12:00am
Transfer of oil price fixing powers

Transfer of oil price fixing powers

The government has at long last approved transfer of oil price fixing powers from the Oil Companies Advisory Committee (OCAC) to the Oil and Gas Regulatory Authority (OGRA). The decision comes into effect from April 1. The regulator would have to fix pric
Published 07 Mar, 2006 12:00am
Pre-budget suggestions: eradication of black money, a prime necessity

Pre-budget suggestions: eradication of black money, a prime necessity

Black money in Pakistan is a parallel economy. We can not think of Pakistan economy without black money. Taxation policies of the government in the last 50 years, coupled with the greed of Pakistani businessman and corruption, have been solely responsible
Published 07 Mar, 2006 12:00am
Samoa regime seeks to extend its reign in March elections

Samoa regime seeks to extend its reign in March elections

In a region where Fiji continues to suffer post-coup political tremors and Tonga's semi-feudal monarchy is nudged towards democracy, Samoa stands out as a beacon of stability in the island states of the South Pacific.
Published 07 Mar, 2006 12:00am
Violent protests

Violent protests

The recent reprinting of the Danish cartoons, were printed some months back, has touched a very sensitive nerve in the Muslim world. They have ignited a bush fire, fanned by the insensitivities of certain European newspapers, which continues to burn right
Published 07 Mar, 2006 12:00am
Hazards of kite flying

Hazards of kite flying

After consistent reports of losing lives of innocent people by flying kites, the government put a ban on it. But as a goodwill gesture the government has allowed flying kites for a couple of weeks so that people could entertain themselves.
Published 07 Mar, 2006 12:00am
Bahauddin Zakariya Urs begins

Bahauddin Zakariya Urs begins

The three-day activities of 766th Urs of South Asian great spiritual leader and Sufi saint Hazrat Bahauddin Zakariya Suharwardi began on Monday with a traditional ghusal (bath) of the shrine, performed by Makhdoom Shah Mehmood Qureshi, Sajjadah Nasheen of
Published 07 Mar, 2006 12:00am
Survey highlights business difficulties in rural areas

Survey highlights business difficulties in rural areas

Pakistan has around 150,000 small businesses and more than three million microenterprises, which together compose more than 90 percent of the country's total businesses and access to finance and improved technology and average standards of quality and pro
Published 07 Mar, 2006 12:00am
Protests against cartoons continue

Protests against cartoons continue

Pakistan Muslim League-N, Jamaat Ahl-e-Sunnat and Therik-e-Insaf staged protest demonstrations in different areas to condemn the publication of blasphemous sketches of Holy Prophet (PBUH) by some European newspapers.
Published 07 Mar, 2006 12:00am
Fashions apparels export urged

Fashions apparels export urged

The textile sector should move briskly towards exports of fashion garments to enhance foreign exchange earning for the country. Chaudhry Shahid Nazir, Chief Executive, Masood Textile Mills observed this while inaugurating an exhibition organised by the Fa
Published 07 Mar, 2006 12:00am
Musharraf to announce package for Faisalabad

Musharraf to announce package for Faisalabad

President General Pervez Musharraf will visit Faisalabad next week to announce an uplift package for the industrial city, said City District Nazim Rana Zahid Tauseef while addressing a news conference here on Monday.
Published 07 Mar, 2006 12:00am
Minister assures basic facilities for Dadu

Minister assures basic facilities for Dadu

Federal Minister for Irrigation and Power Liaquat Jatoi on Monday said the present government was making all-out efforts to ensure provision of basic facilities to masses and in line of this President General Pervez Musharraf and Prime Minister Shaukat Az
Published 07 Mar, 2006 12:00am
Gold steadies, seeks trigger for new highs

Gold steadies, seeks trigger for new highs

Gold steadied in afternoon European trade after paring earlier gains, with the market watching movements in oil and silver and the UN atomic watchdog's meeting on Iran, dealers said.
Published 07 Mar, 2006 12:00am
New York cotton close lower

New York cotton close lower

Cotton futures finished lower Monday on speculative sales but trade and consumer buying kept the market from falling further and will seek to check further attempts by the market to slip lower, dealers said.
Published 07 Mar, 2006 12:00am
Oil slumps, Opec expected to keep pumping flat out

Oil slumps, Opec expected to keep pumping flat out

Oil fell more than a dollar on Monday as the UN's nuclear watchdog said it was hoping for a deal with Iran and Opec ministers called for Wednesday's meeting of the group to keep near-maximum output.
Published 07 Mar, 2006 12:00am
Copper sheds over three percent in late selling

Copper sheds over three percent in late selling

Three-months copper futures on the London Metal Exchange (LME) dropped over three percent on Monday as technical selling picked up late in the day, dealers said.
Published 07 Mar, 2006 12:00am
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