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Print - 2006-04-06
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
MGE wheat up on inter-market spreads

MGE wheat up on inter-market spreads

Spring wheat futures on the Minneapolis Grain Exchange closed higher on Tuesday on light inter-market spreading, with traders buying Minneapolis December wheat against Chicago, brokers said.
Published 06 Apr, 2006 12:00am
Copper rallies in Asian markets

Copper rallies in Asian markets

Copper prices rallied on Wednesday, a day after the metal lost 1.3 percent, and dealers said the market would remain supported by worries over global supply disruptions and dwindling inventories.
Published 06 Apr, 2006 12:00am
New York copper ends with small losses

New York copper ends with small losses

US copper futures settled with modest losses on Tuesday amid some investor profit-taking following on Monday's fund-driven rally.
Published 06 Apr, 2006 12:00am
New York gold and silver down

New York gold and silver down

US gold futures gave back some recent gains by the close and held at lower levels throughout the session on Tuesday, as some large players decided to take profits, traders said.
Published 06 Apr, 2006 12:00am
Gold retreats in Asia, but retains bullish trend

Gold retreats in Asia, but retains bullish trend

Gold retreated slightly on Wednesday following losses in New York, but market sentiment remained bullish as funds were keen to diversify into precious metals given a firmness in oil prices.
Published 06 Apr, 2006 12:00am
Zimbabwe raises maize prices

Zimbabwe raises maize prices

Zimbabwe has sharply raised the producer price of the staple maize to encourage farmers to boost ouput and deliveries in a country facing food shortages, state media reported on Wednesday.
Published 06 Apr, 2006 12:00am
Malaysian tin edges down

Malaysian tin edges down

Malaysian tin prices dropped slightly on Wednesday, as buyers took stock of the impact from a correction following a spurt this week in the metal's London price, dealers said.
Published 06 Apr, 2006 12:00am
Australian wheat growers review AWB monopoly veto

Australian wheat growers review AWB monopoly veto

Australia's main wheat grower body plans to lobby for the retention of a monopoly system for bulk wheat exports, stripping it from tainted exporter AWB Ltd and handing it instead to a new grower body.
Published 06 Apr, 2006 12:00am
World market rice prices

World market rice prices

The US Agriculture Department's Comm-odity Credit Corporation announced the following world market prices of milled and rough rice.
Published 06 Apr, 2006 12:00am
Indian wheat futures up on supply squeeze

Indian wheat futures up on supply squeeze

Indian wheat futures firmed on Wednesday as supplies dropped in the physical market, while sugar dipped on the higher government quota for free sale sugar.
Published 06 Apr, 2006 12:00am
New York sugar closes lower

New York sugar closes lower

Raw sugar futures finished easier on Tuesday on late speculative sales while switch business was featured from players moving positions out of the spot contract before it expires at month's end, brokers said.
Published 06 Apr, 2006 12:00am
Soya falls to four-month low

Soya falls to four-month low

The Chicago Board of Trade soyabean market fell to a four-month low on Tuesday, continuing its downward slide amid huge stocks and the government's recent prediction that US farmers will plant a record number of soya acres, traders said.
Published 06 Apr, 2006 12:00am
Asian rubber prices dip on Tocom

Asian rubber prices dip on Tocom

Rubber prices drifted lower on Wednesday following a sharp decline in Tokyo futures, but trade remained subdued as buyers wait for lower prices, dealers said.
Published 06 Apr, 2006 12:00am
Malaysian palm oil falls on ringgit gains

Malaysian palm oil falls on ringgit gains

Malaysian crude palm oil futures ended one percent lower on Wednesday as traders reduced positions on fears of a slowdown in exports following the ringlet's rise to eight-year highs against the US dollar.
Published 06 Apr, 2006 12:00am
Iran MPs demand single digit loan rates by 2010

Iran MPs demand single digit loan rates by 2010

Iran's parliament passed a law on Wednesday that requires the government and the Central Bank of Iran (CBI) to cut lending rates to single digits by 2010, a step critics say could fuel inflation.
Published 06 Apr, 2006 12:00am
Bank charges must come down: UK watchdog

Bank charges must come down: UK watchdog

Britain's consumer watchdog told credit card companies on Wednesday to cut penalties for the late payment of bills by about half from their current level and signalled other bank charges need to come down.
Published 06 Apr, 2006 12:00am
US services steaming along in March

US services steaming along in March

Business activity in the vast US services sector picked up in March, beating expectations and pointing to solid momentum across most of the economy, a report showed on Wednesday.
Published 06 Apr, 2006 12:00am
French unions set deadline for jobs law repeal

French unions set deadline for jobs law repeal

French trade unions on Wednesday set President Jacques Chirac an April 15 deadline to repeal a disputed youth jobs law, scenting victory amid mass protests and the sliding poll ratings of Chirac's government.
Published 06 Apr, 2006 12:00am
BP's oil production down in first quarter

BP's oil production down in first quarter

Oil giant BP Plc said its production of oil and gas fell 1.9 percent in the first quarter of 2006 compared to the same period last year, but it signalled a better-than-expected performance at its refining business.
Published 06 Apr, 2006 12:00am
BP's oil production down in first quarter

BP's oil production down in first quarter

Oil giant BP Plc said its production of oil and gas fell 1.9 percent in the first quarter of 2006 compared to the same period last year, but it signalled a better-than-expected performance at its refining business.
Published 06 Apr, 2006 12:00am
Snow set to leave Bush administration: reports

Snow set to leave Bush administration: reports

Speculation over US Treasury Secretary John Snow intensified Wednesday, with the White House said to be hunting for a more effective spokesman for its economic policies.
Published 06 Apr, 2006 12:00am
Alcatel boosts Thales stake in satellites deal

Alcatel boosts Thales stake in satellites deal

Alcatel and Thales unveiled a long-awaited 1.6-billion-euro ($1.95-billion) satellites deal on Wednesday, more than doubling Alcatel's stake in Thales and setting the stage for further consolidation of Europe's aerospace and defence industry.
Published 06 Apr, 2006 12:00am
Internet will be tomorrow's TV screen: AOL chief

Internet will be tomorrow's TV screen: AOL chief

Forget the TV, tomorrow's screen of preference will probably be the Internet, AOL chief Jonathan Miller predicted at the influential "MIPTV featuring MILIA" trade show here.
Published 06 Apr, 2006 12:00am
EU trumpets budget accord, eyes end to chill

EU trumpets budget accord, eyes end to chill

The European Union trumpeted a revised accord on its long-term budget plans Wednesday after lawmakers wrung out more cash for EU coffers at what they say is a crucial time for the embattled bloc.
Published 06 Apr, 2006 12:00am
Poland reaches deal with UniCredito

Poland reaches deal with UniCredito

Poland struck a deal with UniCredito on Wednesday to defuse a row over its opposition to the Italian bank's local merger plans, which has hurt the country's image and sparked legal action by the EU.
Published 06 Apr, 2006 12:00am
Japan unveils new bullet train

Japan unveils new bullet train

Japan on Wednesday unveiled a sleeker version of its celebrated bullet train, the Shinkansen, which is billed as being the fastest in the world.
Published 06 Apr, 2006 12:00am
New Zealand shares up

New Zealand shares up

New Zealand share prices closed 0.62 percent higher on Wednesday as top stock Telecom pulled the market to a record finish for a ninth consecutive day, dealers said.
Published 06 Apr, 2006 12:00am
Philippines shares jump

Philippines shares jump

Philippines share prices closed 0.17 percent higher on Wednesday on selective interest but trade was sluggish ahead of the Easter holiday break next week, dealers said.
Published 06 Apr, 2006 12:00am
Indian markets at new record close

Indian markets at new record close

Indian share prices hit a third straight record high close on Wednesday as retail investors joined in the rally, dealers said. They said interest was strong with notable demand from retail investors and gains in cement and pharmaceutical stocks.
Published 06 Apr, 2006 12:00am
Seoul shares hit nine-week high

Seoul shares hit nine-week high

Seoul shares rose for a 10th session in a row on Wednesday, posting their highest close in more than nine weeks, as exporters such as Hyundai Motor gained on easing worries over US interest rates and lower oil prices.
Published 06 Apr, 2006 12:00am
US stocks climb on lower oil, Fed comments

US stocks climb on lower oil, Fed comments

US stocks rallied on Tuesday, helped by a drop in crude oil prices and comments from Federal Reserve officials that could signal the Fed is almost done with raising interest rates.
Published 06 Apr, 2006 12:00am
Jakarta shares close 1.37 percent firmer

Jakarta shares close 1.37 percent firmer

Indonesian share prices closed 1.37 percent higher for another record finish on Wednesday on fresh support for the banks, dealers said. The Jakarta Stock Exchange composite index added 18.152 points at 1,344.600, breaking its previous record high of 1,330
Published 06 Apr, 2006 12:00am
Malaysian stocks rise

Malaysian stocks rise

Malaysian share prices closed 1.13 percent higher on Wednesday in heavy trade as a recent improvement in investor sentiment picked up further in a laggard market, dealers said.
Published 06 Apr, 2006 12:00am
Chinese shares make gains

Chinese shares make gains

Chinese shares closed up 0.78 percent on Wednesday, their highest level in 16 months, as bullish sentiment pushed investors to build fresh positions in large caps such as Sinopec Corp.
Published 06 Apr, 2006 12:00am
Thai share prices soar

Thai share prices soar

Thai share prices closed 3.05 percent higher on Wednesday amid hopes that Premier Thaksin Shinawatra's surprise resignation announcement would end the country's prolonged political crisis, dealers said.
Published 06 Apr, 2006 12:00am
Japan's TOPIX declines, off nearly 15-year high

Japan's TOPIX declines, off nearly 15-year high

Japan's TOPIX index reversed its morning gains to close lower on Wednesday as profit-taking trimmed rises in Toyota Motor Corp, Mizuho Financial Group Inc and other leading firms, and steel makers slid on concerns about higher raw material costs.
Published 06 Apr, 2006 12:00am
Singapore shares surge

Singapore shares surge

Singapore share prices closed 0.49 percent higher on Wednesday led by gains in blue chips including banking giant DBS Group, dealers said. The Straits Times Index rose 12.3 points to 2,544.89, off a high of 2,550.58 on volume of 1.64 billion shares worth
Published 06 Apr, 2006 12:00am
Swiss franc at two-month high

Swiss franc at two-month high

The Swiss franc hit a two-month high against the dollar and bounced off near six-year lows against the euro on Wednesday, on the view that the US Federal Reserve could be winding down its credit tightening campaign.
Published 06 Apr, 2006 12:00am
Yuan hits high on weak dollar

Yuan hits high on weak dollar

China's yuan finished at a post-revaluation closing high against the dollar on Wednesday for the second consecutive day, boosted by a weaker dollar and pressure before the Chinese President's visit to the United States later in the month.
Published 06 Apr, 2006 12:00am
Euro hits two-month high versus dollar

Euro hits two-month high versus dollar

The euro hit a fresh two-month high against the dollar on Wednesday, boosted by expectations the European Central Bank will raise interest rates next month and beyond.
Published 06 Apr, 2006 12:00am
Dollar drops to two-month low on interest rate views

Dollar drops to two-month low on interest rate views

The dollar fell to two-month lows on Tuesday, weighed by growing expectations the European Central Bank will raise interest rates next month as the Federal Reserve winds down its nearly two-year credit tightening campaign.
Published 06 Apr, 2006 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 69.15/71.18 (previous 69.15/71.50). Call Money Rates: 15.00-46.00 percent (previous 13.00-28.00 percent.
Published 06 Apr, 2006 12:00am
Asian currencies: Thai baht rises as Prime Minister steps aside

Asian currencies: Thai baht rises as Prime Minister steps aside

The Thai baht hit its highest level in more than a year on Wednesday, boosted by hopes of an end to a political crisis in Thailand as Thaksin Shinawatra stepped down as prime minister. Other Asian currencies were also firmer.
Published 06 Apr, 2006 12:00am
Australian dollar strikes two-week high

Australian dollar strikes two-week high

The Australian dollar struck a two-week high above 72 US cents - extending a one cent rally offshore - on speculation about a rise in Australian interest rates in coming months after a spate of strong economic data.
Published 06 Apr, 2006 12:00am
Petrova rebounds to make third round

Petrova rebounds to make third round

Top seeded Russian Nadia Petrova rallied from a second set stumble to beat Czech wild card Katerina Bohmova 6-1, 6-7 (6/8), 6-3 on Tuesday at the WTA Bausch and Lomb Championships.
Published 06 Apr, 2006 12:00am
Public ticketing for ICC World Cup from May 1

Public ticketing for ICC World Cup from May 1

The start of Public Ticketing for ICC Cricket World Cup 2007 is now less than a month away. As of midnight Eastern Caribbean time on May 1, 2006, cricket fans world-wide will be able to apply online at http://www.cricketworldcup.com for tickets to attend
Published 06 Apr, 2006 12:00am
India pile pressure on tottering England

India pile pressure on tottering England

Indian captain Rahul Dravid has urged his team to seal the one-day series against England by winning the fourth match here on Thursday. "We have done well so far. We do understand it is an important game. If we play some good cricket we can win the series
Published 06 Apr, 2006 12:00am
US government spokesman arrested for seducing teen

US government spokesman arrested for seducing teen

A US government spokesman has been arrested for trying to seduce a 14-year-old girl online, police said Wednesday. Brian Doyle, 55, deputy press secretary for the Department of Homeland Security, was arrested at his home in a Washington suburb late Tuesda
Published 06 Apr, 2006 12:00am
Night curfew imposed in Kathmandu

Night curfew imposed in Kathmandu

Nepalese authorities Wednesday arrested almost 150 politicians and demonstrators and imposed a curfew in a crackdown aimed at thwarting planned pro-democracy mass protests this week, activists said.
Published 06 Apr, 2006 12:00am
Ukraine opposition party insists on leader as Prime Minister

Ukraine opposition party insists on leader as Prime Minister

The opposition Regions Party, which won the most seats in Ukraine's election, will only join a coalition government if its leader Viktor Yanukovich is named prime minister, a top party official said on Wednesday.
Published 06 Apr, 2006 12:00am
Church to keep on display monk's 'uncorrupted' corpse

Church to keep on display monk's 'uncorrupted' corpse

The Orthodox Church of Greece has decided to keep on public display the corpse of a monk found partially decomposed after 15 years of burial, a discovery that has drawn hundreds of believers to a monastery in central Greece, the church said on Wednesday.
Published 06 Apr, 2006 12:00am
Multi-faith mountaineers set out to tackle Everest

Multi-faith mountaineers set out to tackle Everest

A nine-member team from seven countries representing five religions plans to climb the world's highest mountain for the sake of world peace, the expedition's leader said in Nepal Wednesday.
Published 06 Apr, 2006 12:00am
Foreign donors turning backs on Darfur: UNICEF

Foreign donors turning backs on Darfur: UNICEF

International donors are turning their backs on Sudan's crisis-torn Darfur region, putting at even greater risk the lives of people who are already victims of conflict and banditry, UNICEF said on Wednesday.
Published 06 Apr, 2006 12:00am
Taleban gun down intelligence official

Taleban gun down intelligence official

Taleban guerrillas shot dead an Afghan intelligence official on Wednesday, the second senior security officer to be killed in 24 hours.
Published 06 Apr, 2006 12:00am
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