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Print - 2006-04-06
High Danube, Elbe waters block German shipping

High Danube, Elbe waters block German shipping

High water levels continue to block shipping between east and west Europe on the Danube and Elbe rivers in Germany, navigation authorities said on Wednesday.
Published 06 Apr, 2006 12:00am
Maersk not to raise stake in Malaysian port

Maersk not to raise stake in Malaysian port

A.P. Moeller-Maersk, a Danish conglomerate which runs the world's top container shipping line, will not raise its stake in its Malaysian port for now but is interested in ports in Vietnam and Indonesia, an executive said on Wednesday.
Published 06 Apr, 2006 12:00am
Prices of top Kenyan coffee firm

Prices of top Kenyan coffee firm

Kenyan coffee attracted good prices at Tuesday's auction pushed by strong demand but traders expect the amount of top qualities to drop in coming sales.
Published 06 Apr, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 51,602 tonnes of cargo including 41,521 tonnes import and 10,081 tonnes export cargo including 4,401 containers during last 24 hours ending at 0700 hours on Wednesday.
Published 06 Apr, 2006 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices fell on Wednesday, but bunker premiums remained stable at $3-$5 a tonne, indicating that demand-supply is balanced, traders said.
Published 06 Apr, 2006 12:00am
Message from Chairman, Bawan Shah Group of Companies

Message from Chairman, Bawan Shah Group of Companies

It is heartening to learn that WCO has planned a 2006 IT Conference and Exhibition in Bangalore India. Through your gigantic effort the delegates attending the conference would benefit and will be able to meet the increasing demand to secure the internati
Published 06 Apr, 2006 12:00am
Shaukat for comprehensive UN reform package

Shaukat for comprehensive UN reform package

Prime Minister Shaukat Aziz on Wednesday called for preparing a comprehensive reform package with a phased implementation plan. He was presiding over the opening meeting of a panel for strengthening United Nations operational activities.
Published 06 Apr, 2006 12:00am
The scope of Customs Administrative Reforms project

The scope of Customs Administrative Reforms project

Customs Administrative Reform (CARE) project was initiated by the central Board of Revenue in February 2002 with the fundamental objective to improve organisational efficiency of customs department, enhance controls, and to enable it to adapt to emerging
Published 06 Apr, 2006 12:00am
Shaukat for comprehensive UN reform package

Shaukat for comprehensive UN reform package

Prime Minister Shaukat Aziz on Wednesday called for preparing a comprehensive reform package with a phased implementation plan. He was presiding over the opening meeting of a panel for strengthening United Nations operational activities.
Published 06 Apr, 2006 12:00am
Boosting security steps to raise Pakistan's exports

Boosting security steps to raise Pakistan's exports

Galloping International Trade, in the recent times, has led to emergence of new concepts and standards for an effective supervision and regulation of the business processes involved in it. That is why we now hear of trade facilitation and trade supply cha
Published 06 Apr, 2006 12:00am
Banks did not allow release of sugar stocks: MCA informed

Banks did not allow release of sugar stocks: MCA informed

The counsel for 11 sugar mills submitted before MCA that the stocks of these sugar mills from Punjab were pledged with banks which did not allow their release. Moreover, he said, the fortnightly figures of PSMA stocks were "mere estimates".
Published 06 Apr, 2006 12:00am
Qasim International Container Terminal

Qasim International Container Terminal

Qasim International Container Terminal (QICT) was constituted on July 5, 1994 specifically to tender for the construction and operation of what would be Pakistan's first Dedicated International Container Terminal, to be built at Port Muhammad Bin Qasim on
Published 06 Apr, 2006 12:00am
South Korea's first sale of US rice ends in failure

South Korea's first sale of US rice ends in failure

South Korea managed to sell only 3 percent of the first batch of US rice for consumers on Wednesday due to buyers' fear of protests, putting into doubt whether the country will meet international trade obligations for the grain.
Published 06 Apr, 2006 12:00am
New York coffee futures sag

New York coffee futures sag

Benchmark coffee futures ended down 2.2 percent on Tuesday, pressured by weak technical signals after speculators failed to nudge the active contract above the previous session's peak trade, market sources said.
Published 06 Apr, 2006 12:00am
US to push for Asian moratorium on nuclear arms

US to push for Asian moratorium on nuclear arms

Secretary of State Condoleezza Rice said on Wednesday the United States would push for a South Asian moratorium on nuclear weapons production to ease tensions between India and Pakistan.
Published 06 Apr, 2006 12:00am
Guwar all stations gains Rs 25

Guwar all stations gains Rs 25

A few changes were seen on the grain market on Wednesday as leading buyers kept on the sidelines on expectations of falling trend in the prices, dealers said.
Published 06 Apr, 2006 12:00am
US to push for Asian moratorium on nuclear arms

US to push for Asian moratorium on nuclear arms

Secretary of State Condoleezza Rice said on Wednesday the United States would push for a South Asian moratorium on nuclear weapons production to ease tensions between India and Pakistan.
Published 06 Apr, 2006 12:00am
Business improves on cotton market

Business improves on cotton market

Improved business was seen on the cotton market on Wednesday as mills entered market to buy the fine quality lint, dealers said. The official spot rate was unchanged at Rs 2400, without upcountry expenses.
Published 06 Apr, 2006 12:00am
SNGPL plea to increase gas prices opposed

SNGPL plea to increase gas prices opposed

The Planning Commission has strongly opposed upward revision in Sui Northern Gas Pipelines Limited (SNGPL) gas prices and termed its demand as uncalled for and ill-timed.
Published 06 Apr, 2006 12:00am
Oil cake market rates

Oil cake market rates

Bullish sentiment persisted on the forward cottonseed oilcake market on Wednesday as buyers increased purchasing to cover the forward sales, dealers said.
Published 06 Apr, 2006 12:00am
SNGPL plea to increase gas prices opposed

SNGPL plea to increase gas prices opposed

The Planning Commission has strongly opposed upward revision in Sui Northern Gas Pipelines Limited (SNGPL) gas prices and termed its demand as uncalled for and ill-timed.
Published 06 Apr, 2006 12:00am
New York cocoa futures falter after weak rally

New York cocoa futures falter after weak rally

Cocoa futures sagged on Tuesday, depressed by speculative profit-taking and fund selling after the benchmark contract marked its highest trade in nearly three weeks, traders said.
Published 06 Apr, 2006 12:00am
SNGPL plea to increase gas prices opposed

SNGPL plea to increase gas prices opposed

The Planning Commission has strongly opposed upward revision in Sui Northern Gas Pipelines Limited (SNGPL) gas prices and termed its demand as uncalled for and ill-timed.
Published 06 Apr, 2006 12:00am
CBOT wheat settles higher after choppy session

CBOT wheat settles higher after choppy session

Wheat futures at the Chicago Board of Trade closed firm on Tuesday, ending a choppy session on ideas the market was oversold and due for a bounce, traders said.
Published 06 Apr, 2006 12:00am
Corn ends down amid quiet exports

Corn ends down amid quiet exports

Corn futures at the Chicago Board of Trade ended lower on Tuesday on quiet exports and signs that the market is technically overbought, traders said.
Published 06 Apr, 2006 12:00am
US Midwest bids for corn steady, soyabean rise

US Midwest bids for corn steady, soyabean rise

Spot basis bids for corn were mostly unchanged around the interior US Midwest on Wednesday while soyabean bids rose at some locations in the western part of the region, grain dealers said.
Published 06 Apr, 2006 12:00am
HRW wheat bids unchanged, trade slow

HRW wheat bids unchanged, trade slow

Hard red winter wheat basis bids were unchanged across the US Plains on Wednesday, with grain dealers reporting a slow pace of country movement and lacklustre demand from end-users.
Published 06 Apr, 2006 12:00am
Islamabad asked to repatriate 22 Filipino fishermen

Islamabad asked to repatriate 22 Filipino fishermen

Manila has asked Islamabad to release and immediately repatriate 22 Filipino fishermen whose vessel strayed into Pakistani waters last week, the Philippines Foreign Department said on Wednesday.
Published 06 Apr, 2006 12:00am
Islamabad asked to repatriate 22 Filipino fishermen

Islamabad asked to repatriate 22 Filipino fishermen

Manila has asked Islamabad to release and immediately repatriate 22 Filipino fishermen whose vessel strayed into Pakistani waters last week, the Philippines Foreign Department said on Wednesday.
Published 06 Apr, 2006 12:00am
New York cotton

New York cotton

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

Published 06 Apr, 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 06 Apr, 2006 12:00am
New York cotton

New York cotton

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

Published 06 Apr, 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 06 Apr, 2006 12:00am
The Weather

The Weather

The weather report on Wednesday (April 05, 2006) and the forecast for Thursday (April 06, 2006).
Published 06 Apr, 2006 12:00am
'New OEMs real concern for auto industry'

'New OEMs real concern for auto industry'

"The government is planning to introduce new overseas engineering manufacturers (OEMs) in the country with three years' exemption from deletion plan. This is a real concern for the local automobile industry." This was stated by Indus Motor Company chief e
Published 06 Apr, 2006 12:00am
First National Bank Modaraba ratings reaffirmed

First National Bank Modaraba ratings reaffirmed

The JCR-VIS Credit Rating Company Limited has re-affirmed the medium to long-term rating of First National Bank Modaraba at 'A -' (Single A Minus) with a 'Positive' outlook. The short-term rating has also been reaffirmed at 'A 2' (A Two).
Published 06 Apr, 2006 12:00am
First National Bank Modaraba ratings reaffirmed

First National Bank Modaraba ratings reaffirmed

The JCR-VIS Credit Rating Company Limited has re-affirmed the medium to long-term rating of First National Bank Modaraba at 'A -' (Single A Minus) with a 'Positive' outlook. The short-term rating has also been reaffirmed at 'A 2' (A Two).
Published 06 Apr, 2006 12:00am
Dawood Bank on rating watch

Dawood Bank on rating watch

The Pakistan Credit Rating Agency (Pacra) had placed the ratings of Dawood Bank Limited on 'RatingWatch' due to acquisition of majority shareholding by Atlas Group, and the Group plans to merge Dawood Bank Limited with Atlas Investment Bank Limited.
Published 06 Apr, 2006 12:00am
Dawood Bank on rating watch

Dawood Bank on rating watch

The Pakistan Credit Rating Agency (Pacra) had placed the ratings of Dawood Bank Limited on 'RatingWatch' due to acquisition of majority shareholding by Atlas Group, and the Group plans to merge Dawood Bank Limited with Atlas Investment Bank Limited.
Published 06 Apr, 2006 12:00am
PCM Fund gets five-star rating

PCM Fund gets five-star rating

The Pakistan Credit Rating Agency (Pacra) has assigned 5-Star fund rating (Category: Absolute Return Fund) to Pakistan Capital Market Fund (PCM), which reflects its superior performance.
Published 06 Apr, 2006 12:00am
PCM Fund gets five-star rating

PCM Fund gets five-star rating

The Pakistan Credit Rating Agency (Pacra) has assigned 5-Star fund rating (Category: Absolute Return Fund) to Pakistan Capital Market Fund (PCM), which reflects its superior performance.
Published 06 Apr, 2006 12:00am
Australian experts visiting mango-growing areas

Australian experts visiting mango-growing areas

To address the issues related to production and supply chain system of mango, Pakistan and Australia are working on a three years programme to utilise the maximum potential of mango crop in Pakistan.
Published 06 Apr, 2006 12:00am
Arbab using influence for relief to Gillani and Hashmi

Arbab using influence for relief to Gillani and Hashmi

Sindh Chief Minister Dr Arbab Ghulam Rahim has said Syed Yousaf Raza Gilani and Makhdoom Javed Hashmi were his personal friends and he was using his influence to provide them relief, however, he declined to go into the details.
Published 06 Apr, 2006 12:00am
KBCA for strict enforcement of building rules

KBCA for strict enforcement of building rules

The Karachi Building Control Authority (KBCA) Chief Controller of Buildings has said the government was pursuing the policy for elimination of corruption at every level.
Published 06 Apr, 2006 12:00am
PML-N enrolment drive to start within few days

PML-N enrolment drive to start within few days

PML-N President Punjab, Sardar Zulfiqar Ali Khosa has said that PML-N enrolment campaign would start from D G Khan in a few days and end on May 10 at Sahiwal.
Published 06 Apr, 2006 12:00am
'Normalcy returns to Punjab jails'

'Normalcy returns to Punjab jails'

Complete normalcy has returned to the prisons of Lahore, Adiala and Faisalabad Central Jails after inmates were assured that their demand for including the period of under-trial confinement in their sentences will be considered.
Published 06 Apr, 2006 12:00am
Talks with China on energy sector this month

Talks with China on energy sector this month

Pakistan and China will hold a high-level forum in Islamabad this month to work out a comprehensive plan of co-operation in the energy sector. A proposal of preparing a joint action plan in the energy sector was agreed upon by President Pervez Musharraf a
Published 06 Apr, 2006 12:00am
LCCI, UK-Pak Chamber to strive for trade promotion

LCCI, UK-Pak Chamber to strive for trade promotion

The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday joined hands with UK-Pak Chamber of Commerce and Industry for the promotion of business activities between Pakistan and United Kingdom.
Published 06 Apr, 2006 12:00am
EDB proposals on truck opposed

EDB proposals on truck opposed

Local manufacturers have opposed the Engineering Development Board (EDB) recommendations of duty reduction on the import of prime mover and rigid truck, Business Recorder learnt here on Wednesday.
Published 06 Apr, 2006 12:00am
UNHCR to launch investment scheme for quake victims

UNHCR to launch investment scheme for quake victims

The United Nations High Commission for Refugees (UNHCR) will launch an investment scheme in collaboration with a Swiss derivatives company to help fund raising for the ongoing earthquake relief operation.
Published 06 Apr, 2006 12:00am
Anwar Ali takes over as PAEC chairman

Anwar Ali takes over as PAEC chairman

Anwar Ali took over as Chairman of the Pakistan Atomic Energy Commission (PAEC) in a simple ceremony held at the PAEC headquarters. The outgoing Chairman Parvez Butt has been elevated as Federal Secretary Ministry of Science & Technology.
Published 06 Apr, 2006 12:00am
CDA to spend Rs 10 billion in Sector I-15 flats' project

CDA to spend Rs 10 billion in Sector I-15 flats' project

Capital Development Authority (CDA) will spend Rs 10 billion on the construction of 8,000 flats in Sector I-15 during the next two years. Sources told Business Recorder on Tuesday that the PC-I of the mega project is in its final stage and would pr
Published 06 Apr, 2006 12:00am
No structural change in police hierarchy: Elahi

No structural change in police hierarchy: Elahi

Punjab Chief Minister Chaudhry Pervaiz Elahi has said there would be no change in the organisational structure of Punjab police; however, the government would be bringing about revolutionary changes in the department without disturbing its chain of comman
Published 06 Apr, 2006 12:00am
Need stressed for affordable, quality education

Need stressed for affordable, quality education

Educational institutions run by the private sector should provide quality education to a wider cross section of society at affordable fee, said chairman Pak-US Business Council and former president FPCCI, Iftikhar Ali Malik.
Published 06 Apr, 2006 12:00am
PAF aircraft crashes; pilot dies

PAF aircraft crashes; pilot dies

An F-7 fighter aircraft of the Pakistan Air Force (PAF) crashed on Wednesday while on a routine operational training mission, near Pindigheb in Attock district. The pilot, Flight Lieutenant Umer Bashir Dogar, sustained fatal injuries, says a PAF press rel
Published 06 Apr, 2006 12:00am
PAF aircraft crashes; pilot dies

PAF aircraft crashes; pilot dies

An F-7 fighter aircraft of the Pakistan Air Force (PAF) crashed on Wednesday while on a routine operational training mission, near Pindigheb in Attock district. The pilot, Flight Lieutenant Umer Bashir Dogar, sustained fatal injuries, says a PAF press rel
Published 06 Apr, 2006 12:00am
Hamdard Assembly resents India-US nuclear deal

Hamdard Assembly resents India-US nuclear deal

Hamdard Assembly has expressed its resentment over US-Indian civil nuclear deal saying that the agreement would cause power imbalance in the region besides, enhancing arms race and endangering peace and security of the South Asian region.
Published 06 Apr, 2006 12:00am
Anisa pays tributes to Bhutto

Anisa pays tributes to Bhutto

Minister of State for Information and Broadcasting Anisa Zaib Tahirkhaili has said that by emulating the principles and ideals set by Zulfiqar Ali Bhutto, the very foundations of Pakistan Peoples Party can be further consolidated.
Published 06 Apr, 2006 12:00am
Foreign entrepreneurs keen to participate in Women's Expo: adviser

Foreign entrepreneurs keen to participate in Women's Expo: adviser

Adviser to Prime Minister for Women Development, Nilofer Bakhtiar said on Wednesday that several women entrepreneurs from China, Turkey and other countries were showing great interest in the Women Expo-2006, "but we are not able to arrange more this time
Published 06 Apr, 2006 12:00am
Expo juniors opens on April 7

Expo juniors opens on April 7

The first mega-event for juniors - "Expo Juniors 2006" has now entered into a final stage of preparation and will be starting from Saturday at the Karachi Expo Centre expecting over 250,000 visitors from all walks of life including 100,000 school children
Published 06 Apr, 2006 12:00am
Children health moot today

Children health moot today

An international children health conference will be organised here at a local hotel on Thursday under the auspices of Hamdard Foundation Pakistan.
Published 06 Apr, 2006 12:00am
APPSF polls on May 6

APPSF polls on May 6

The elections of All Pakistan Paramedical Staff Federation (APPSF) would be held here on May 6. This was announced in the general council meeting of APPSF.
Published 06 Apr, 2006 12:00am
Balochistan 'uplift'

Balochistan 'uplift'

President Musharraf's declaration at the inauguration of Gwadar gas supply pilot project that he wants to see Balochistan developed at par with other provinces, shows that the government is committed to the uplift of the country's largest, but least devel
Published 06 Apr, 2006 12:00am
Alternative energy programme

Alternative energy programme

It is a matter of satisfaction that the government is actively working towards acquiring energy from alternative sources. According to a report appearing in this paper the other day, the government has been aggressively pursuing an alternative energy prog
Published 06 Apr, 2006 12:00am
Restructuring of tax policy a big challenge

Restructuring of tax policy a big challenge

Prime Minister Shaukat Aziz repeatedly and particularly, on the floor of the National Assembly, categorically stated that the World Bank and the International Monetary Fund have been bid goodbye with a one-way air ticket.
Published 06 Apr, 2006 12:00am
PIA workers' grievances

PIA workers' grievances

PIA is a service oriented industry, which requires a workforce of competent, honest and dedicated professionals to deliver their best to the satisfaction of its valued customers, the revenue paying passengers or cargo shippers.
Published 06 Apr, 2006 12:00am
Karachi University transport

Karachi University transport

University of Karachi is an educational center, where students from all over Pakistan, but especially from abroad, come to take higher studies. There is no doubt that the degree of the University is recognised all over the world.
Published 06 Apr, 2006 12:00am
Desperate Somalis pray rains will ease food crisis

Desperate Somalis pray rains will ease food crisis

Ahmed Abdoulaye's two brothers were killed in an argument over water at a well a few months ago and the 15-year-old Somali was terrified the same fate would befall him.
Published 06 Apr, 2006 12:00am
2,620 arrested for violating kite flying ban

2,620 arrested for violating kite flying ban

Justice Mian Muhammad Najam-uz-Zaman of the Lahore High Court on Wednesday was informed by the DIG Operations Lahore that 2,620 violators of kite flying ordinance were arrested during the period from 25th October 2005 to 7th April 2006 and challans of 2,0
Published 06 Apr, 2006 12:00am
Rs 21 billion school reforms programme soon

Rs 21 billion school reforms programme soon

Punjab Education Minister Mian Imran Masood said that a Rs 21 billion school reforms programme would be launched soon for a knowledge-based, progressive and enlightened society in the province, while in the next fiscal year, the government would further i
Published 06 Apr, 2006 12:00am
Delay in sugar import to benefit profiteers

Delay in sugar import to benefit profiteers

Trading Corporation of Pakistan (TCP) and the bureaucracy in the Ministry of Commerce were employing delaying tactics in importing the white sugar for the benefit of local hoarders, profiteers and black marketers.
Published 06 Apr, 2006 12:00am
'PPP leadership being victimised'

'PPP leadership being victimised'

Pakistan Bar Council former Vice Chairman Mian Abbas Ahmed on Wednesday has alleged the present Government headed by General Pervez Musharraf was engaged in victimising the PPP and its leadership by launching media campaign against them besides abusing th
Published 06 Apr, 2006 12:00am
Grants of universities to be slashed: HEC

Grants of universities to be slashed: HEC

The Higher Education Commission on Wednesday announced that the public sector universities, which failed to follow the HEC quality criteria in appointments and promotions of faculty members would face suspension of their development grants and reduction i
Published 06 Apr, 2006 12:00am
Kashmiris integral part of IOK resolution efforts: Mirwaiz

Kashmiris integral part of IOK resolution efforts: Mirwaiz

All Parties Hurriyat Conference (APHC) Chairman Mirwaiz Umer Farooq has said that for the first time in history, there is a realisation that Kashmiris need to be involved in the process of Kashmir solution.
Published 06 Apr, 2006 12:00am
Tension prevails over burning of religious books

Tension prevails over burning of religious books

Severe tension prevailed in the villages of Mian Chunnu (Khanewal district) where Christians live after the incident of burning the Bible and other religious leaflets and booklets in village No 134/16-L on Tuesday evening.
Published 06 Apr, 2006 12:00am
Prisoners call off hunger strike

Prisoners call off hunger strike

Prisoners of Central Jail, Faisalabad have called off their hunger strike following the intervention of Punjab inspector general prisons. Punjab IG Jails Safraz Mufti held a meeting with the jail inmates protesting against the change in remission pattern.
Published 06 Apr, 2006 12:00am
Wapda employees stage protest

Wapda employees stage protest

The workers of Wapda /Mepco on Wednesday staged a demonstration at Chowk Kutchery as a protest against the privatisation of institution which was serving more than 130 million people in the country and now earning profit.
Published 06 Apr, 2006 12:00am
Five get life term in abduction case

Five get life term in abduction case

Judge of Anti Terrorism Court Faisalabad Chaudhary Muhammad Yousaf Ojla has awarded life-term to five accused involved in abduction for ransom case. Muhammad Akram, Rafaqat, Aslam, Shahbaz and Abdul Qayyum abducted Abdur Rauf, an industrialist from Novelt
Published 06 Apr, 2006 12:00am
US MIDDAY: gold ends higher

US MIDDAY: gold ends higher

US gold futures ended a shade higher on Wednesday as a softer dollar and higher oil fuelled speculative short covering, although the buying lacked enough force to lift prices above $600-an-ounce resistance.
Published 06 Apr, 2006 12:00am
US MIDDAY: soybeans firmer

US MIDDAY: soybeans firmer

Soybean futures at the Chicago Board of Trade were firm on Wednesday on a technical bounce as soy has fallen about 30 cents in the past two sessions after USDA's record large US soy acre estimate, traders said.
Published 06 Apr, 2006 12:00am
US MIDDAY: copper higher

US MIDDAY: copper higher

US copper futures vaulted to all-time highs at the close Wednesday as worries over global supply disruptions and declining warehouse inventory levels continued to fuel the funds' appetite for the red metal, sources said.
Published 06 Apr, 2006 12:00am
US MIDDAY: corn rise

US MIDDAY: corn rise

Corn futures on the Chicago Board of Trade higher on Wednesday amid spill-over support from gains in wheat, traders said. "There was small fund buying and it's just following wheat," a trader said. The fund buying in corn on Wednesday was estimated at 5,0
Published 06 Apr, 2006 12:00am