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Print - 2006-04-09
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
US Treasuries plunge as jobs data revive rate fears

US Treasuries plunge as jobs data revive rate fears

US Treasury debt prices tumbled on Friday, sending long-term yields to fresh highs as solid job growth in March reaffirmed expectations of more interest rate hikes from the Federal Reserve.
Published 09 Apr, 2006 12:00am
China pension fund looks to boost pre-IPO deals

China pension fund looks to boost pre-IPO deals

China's government-run pension fund plans to boost its investments in pre-IPO deals and will look beyond stakes in banks in an effort to diversify its more-than 200 billion yuan ($25 billion) portfolio, a top official said on Saturday.
Published 09 Apr, 2006 12:00am
American credit market outlook

American credit market outlook

Lyondell Chemical's credit spreads extended a recent tightening run on Friday after the company on Thursday said it hopes to sell a big refining asset, which analysts said will help it further cut debt and lift its credit ratings.
Published 09 Apr, 2006 12:00am
American credit market outlook

American credit market outlook

Lyondell Chemical's credit spreads extended a recent tightening run on Friday after the company on Thursday said it hopes to sell a big refining asset, which analysts said will help it further cut debt and lift its credit ratings.
Published 09 Apr, 2006 12:00am
European CEOs, politicians defend globalisation

European CEOs, politicians defend globalisation

European politicians teamed up with business leaders on Saturday to defend globalisation and denounce protectionism, arguing that freer trade and more open markets were good for both jobs and profits.
Published 09 Apr, 2006 12:00am
Harley-Davidson opens first China dealership

Harley-Davidson opens first China dealership

US motorcycle maker Harley-Davidson Inc opened its first authorised dealership in China on Saturday amid hopes its rumbling bikes will strike a chord with wealthy Chinese.
Published 09 Apr, 2006 12:00am
JP Morgan and Bank of New York agree asset swap

JP Morgan and Bank of New York agree asset swap

J.P. Morgan Chase on Saturday announced an agreement to acquire the Bank of New York Co's consumer, small-business and middle-market banking businesses in exchange for J.P. Morgan Chase's corporate trust business plus a cash payment of $150 million.
Published 09 Apr, 2006 12:00am
Judge approves $2.65 billion Time Warner, AOL settlement

Judge approves $2.65 billion Time Warner, AOL settlement

A federal judge has approved a settlement that calls for Time Warner Inc, the world's largest media company, to pay $2.65 billion to settle charges it overstated revenue to gain approval for its merger with AOL.
Published 09 Apr, 2006 12:00am
No need for Asia to add more foreign exchange reserves: ADB

No need for Asia to add more foreign exchange reserves: ADB

Asian countries, including China, already have ample foreign exchange reserves and there is no need for them to accumulate more, Haruhiko Kuroda, President of the Asian Development Bank said on Saturday.
Published 09 Apr, 2006 12:00am
US violated Nafta in applying Byrd law: court

US violated Nafta in applying Byrd law: court

The US Court of International Law ruled on Friday that US Customs violated a provision of the North American Free Trade Agreement (Nafta) in applying a law known as the Byrd amendment to antidumping and countervailing duties on goods from Canada and Mexic
Published 09 Apr, 2006 12:00am
US violated Nafta in applying Byrd law: court

US violated Nafta in applying Byrd law: court

The US Court of International Law ruled on Friday that US Customs violated a provision of the North American Free Trade Agreement (Nafta) in applying a law known as the Byrd amendment to antidumping and countervailing duties on goods from Canada and Mexic
Published 09 Apr, 2006 12:00am
US judge approves Delphi-GM-UAW attrition plan

US judge approves Delphi-GM-UAW attrition plan

Bankrupt auto parts maker Delphi Corp won court approval late Friday for its attrition agreement with former parent General Motors Corp and the United Auto Workers Union.
Published 09 Apr, 2006 12:00am
Illegal immigrants stage mass break out in Malaysia

Illegal immigrants stage mass break out in Malaysia

Malaysian police have launched a hunt for dozens of illegal immigrants after a riot and mass break out at a detention centre in the eastern state of Sabah late on Friday, police said.
Published 09 Apr, 2006 12:00am
Russians left behind by boom protest at price rises

Russians left behind by boom protest at price rises

Thousands of Russians left behind by their country's economic boom came out onto the streets on Saturday to protest at what they said was the widening gulf between rich and poor.
Published 09 Apr, 2006 12:00am
Germany plans deep cuts in corporate income tax

Germany plans deep cuts in corporate income tax

Germany plans to cut corporate income tax rates by as much as 50 percent when launching one of the country's key reforms - the overhaul of its unwieldy corporate tax system, according to German media reports.
Published 09 Apr, 2006 12:00am
Risky emerging markets lure FX, pension funds

Risky emerging markets lure FX, pension funds

Conventional wisdom suggests that political and economic risks deter investors from playing emerging market currencies - but the potential for above-average returns is turning that wisdom on its head.
Published 09 Apr, 2006 12:00am
China agrees to auto part talks with US and EU

China agrees to auto part talks with US and EU

China has responded to a request by the United States and Europe to take part in WTO consultations over auto part tariff rules, the Commerce Ministry said on Saturday.
Published 09 Apr, 2006 12:00am
Donors must back anti-bird flu work in Vietnam: WHO

Donors must back anti-bird flu work in Vietnam: WHO

International donor commitment to Vietnam should be sustained to build on its success in controlling avian flu after it was hit hardest by the disease, the United Nations bird flu co-ordinator said on Saturday.
Published 09 Apr, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 95,424 tonnes of cargo including 70,296 tonnes import and 25,128 tonnes export cargo including 2,672 containers during last 24 hours ending at 0700 hours on Saturday.
Published 09 Apr, 2006 12:00am
Antwerp port sees containers doubling by 2020

Antwerp port sees containers doubling by 2020

The Belgian port of Antwerp, Europe's second-biggest, expects container cargo to double by 2020 from last year's 74 million tonnes as a result of growing global trade, a port official said on Thursday.
Published 09 Apr, 2006 12:00am
Asian freight rates soften due to ship availability

Asian freight rates soften due to ship availability

Asian shipping rates weakened a touch this week due to healthy availability of vessels despite Chinese demand for South American soybean, brokers said on Tuesday, April 4.
Published 09 Apr, 2006 12:00am
Brazilian sugar vessels lineup falls

Brazilian sugar vessels lineup falls

The lineup of vessels waiting to load sugar in Brazilian ports slipped to 15 from 20 a week ago, shipping agent Williams said.
Published 09 Apr, 2006 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

The trading on Kirana items closed mixed on Jodia Bazar on Saturday. The following variations were seen in white pepper up Rs 200 to Rs 7,200, white pepper Singapore down Rs 50 to Rs 4,100, nutmeg down Rs 200 to Rs 7,800, big cardomom down Rs 100 to Rs 8,
Published 09 Apr, 2006 12:00am
Oil prices gain, metals shine

Oil prices gain, metals shine

Oil prices hit seven-month high points above 68.0 dollars per barrel this week and gold breached 600.0 dollars per ounce for the first time in over 25 years.
Published 09 Apr, 2006 12:00am
Funds roll out red carpet for copper towards $6,000

Funds roll out red carpet for copper towards $6,000

Copper touched a record peak on Friday, moving closer towards uncharted territory of $6,000 a tonne, as funds armed with strong fundamentals and dwindling stocks continued to plough into the red-hot commodity sector.
Published 09 Apr, 2006 12:00am
New York copper down but off lows

New York copper down but off lows

US copper futures ended down but well off their session lows on Friday as a short-covering scramble lifted prices after the selling momentum faded late in the day, sources said.
Published 09 Apr, 2006 12:00am
CBOT rough rice lower in thin trade

CBOT rough rice lower in thin trade

Chicago Board of Trade rice futures closed lower on Friday as firms liquidated long positions amid thin volume, traders said.
Published 09 Apr, 2006 12:00am
Soyabeans close lower on setback, spreading

Soyabeans close lower on setback, spreading

Soyabean futures at the Chicago Board of Trade fell on Friday, setting back from Thursday's firm close, when soya followed the grains higher, traders said.
Published 09 Apr, 2006 12:00am
Ukraine Agriculture Minister ups 2006 crop forecast

Ukraine Agriculture Minister ups 2006 crop forecast

Ukraine's Agriculture Minister was quoted as saying on Friday he hoped to increase the 2006 grain crop to 38-40 million tonnes from a previous forecast of 37.6 million and compared with 38 million in 2005.
Published 09 Apr, 2006 12:00am
Russian spring grain-sowing lags behind norm

Russian spring grain-sowing lags behind norm

Russia officially plans to increase the spring grain sowing area in 2006 to 34.4 million hectares from an all-time record low of 30.6 million hectares last year.
Published 09 Apr, 2006 12:00am
New York sugar closes at two-week low

New York sugar closes at two-week low

Raw sugar futures settled on Friday at a two-week low on fund sales and liquidation from players getting out of positions in the spot contract before it expires at the end of the month, brokers said.
Published 09 Apr, 2006 12:00am
Indian sugar futures rise

Indian sugar futures rise

Indian sugar futures rose slightly on Friday after buying set in at lower prices, while wheat extended gains on a tightening of supply in the physical market, brokers said.
Published 09 Apr, 2006 12:00am
Australian wheat monopoly

Australian wheat monopoly

Australia's biggest farmers group, the New South Wales Farmers Association, has rejected a proposed overhaul of Australia's wheat export system and wants the existing export monopoly to stay with AWB Ltd.
Published 09 Apr, 2006 12:00am
Guwar, cottonseed oilcake make handsome gains

Guwar, cottonseed oilcake make handsome gains

A few changes were seen on the grain market on Saturday as most of traders remained on the sidelines due to light interest in the fresh purchasing, dealers said.
Published 09 Apr, 2006 12:00am
Solo deal reported, trend steady on cotton market

Solo deal reported, trend steady on cotton market

Steady trend was seen on the cotton market on Saturday as most of the buyers kept on the sidelines due to lack of fresh leads, dealers said. The official spot rate was unchanged at Rs 2425, without upcountry expenses. Prices held firmness on the increased
Published 09 Apr, 2006 12:00am
Oil cake market rates

Oil cake market rates

Mixed trend was seen on the forward cottonseed oilcake market on Saturday as a very little number of buyers were active to cover the near-term needs, dealers said.
Published 09 Apr, 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 09 Apr, 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 09 Apr, 2006 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (April 08, 2006).
Published 09 Apr, 2006 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (April 10, 2006).

Published 09 Apr, 2006 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (April 10, 2006).

Published 09 Apr, 2006 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 1st April 2006.

Published 09 Apr, 2006 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 1st April 2006.

Published 09 Apr, 2006 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (April 08, 2006).

Published 09 Apr, 2006 12:00am
THE RUPEE: range-bound trade in currency market

THE RUPEE: range-bound trade in currency market

Steadier trend was witnessed in the interbank market on Saturday as the rupee moved slightly in relation to the dollar for buying and selling at 59.97 and 59.98, money experts said.
Published 09 Apr, 2006 12:00am
THE RUPEE: range-bound trade in currency market

THE RUPEE: range-bound trade in currency market

Steadier trend was witnessed in the interbank market on Saturday as the rupee moved slightly in relation to the dollar for buying and selling at 59.97 and 59.98, money experts said.
Published 09 Apr, 2006 12:00am
Polls to be held in 2008: Afgan

Polls to be held in 2008: Afgan

General elections in the country will be held in February 2008, parliamentary affairs minister Dr Sher Afgan Niazi said. Talking to newsmen here on Saturday, he said present assemblies would complete their term on November 15 next year and it would take 9
Published 09 Apr, 2006 12:00am
The Weather

The Weather

The weather report on Saturday (April 08, 2006) and the forecast for Sunday (April 09, 2006).
Published 09 Apr, 2006 12:00am
Your rupee last quarter

Your rupee last quarter

Following currency fluctuations took place in foreign exchange rates during the last quarter. (January 03 to March 31, 2006).

Published 09 Apr, 2006 12:00am
40 Bugti fugitives surrender in Balochistan

40 Bugti fugitives surrender in Balochistan

A group of about 40 rebels downed arms and surrendered on Saturday to authorities in Balochistan, officials said. "A total of 40 Bugti tribesmen, including five of their commanders have surrendered with weapons and explosives in the town of Sui," the regi
Published 09 Apr, 2006 12:00am
40 Bugti fugitives surrender in Balochistan

40 Bugti fugitives surrender in Balochistan

A group of about 40 rebels downed arms and surrendered on Saturday to authorities in Balochistan, officials said. "A total of 40 Bugti tribesmen, including five of their commanders have surrendered with weapons and explosives in the town of Sui," the regi
Published 09 Apr, 2006 12:00am
Lobbies active to keep wheat prices higher

Lobbies active to keep wheat prices higher

Despite a bumper wheat crop this year, poor people will not get wheat and flour at cheap rates as powerful and extra-market forces have connived to keep wheat prices higher, agro-economists told Business Recorder here on Saturday.
Published 09 Apr, 2006 12:00am
Lobbies active to keep wheat prices higher

Lobbies active to keep wheat prices higher

Despite a bumper wheat crop this year, poor people will not get wheat and flour at cheap rates as powerful and extra-market forces have connived to keep wheat prices higher, agro-economists told Business Recorder here on Saturday.
Published 09 Apr, 2006 12:00am
Lobbies active to keep wheat prices higher

Lobbies active to keep wheat prices higher

Despite a bumper wheat crop this year, poor people will not get wheat and flour at cheap rates as powerful and extra-market forces have connived to keep wheat prices higher, agro-economists told Business Recorder here on Saturday.
Published 09 Apr, 2006 12:00am
Musharraf vows reconstruction on modern lines

Musharraf vows reconstruction on modern lines

President General Pervez Musharraf on Saturday said the nation had faced the devastating calamity of October 8 with great determination and promised to reconstruct the quake-ravaged area on modern lines.
Published 09 Apr, 2006 12:00am
Musharraf vows reconstruction on modern lines

Musharraf vows reconstruction on modern lines

President General Pervez Musharraf on Saturday said the nation had faced the devastating calamity of October 8 with great determination and promised to reconstruct the quake-ravaged area on modern lines.
Published 09 Apr, 2006 12:00am
Polls to be held in 2008: Afgan

Polls to be held in 2008: Afgan

General elections in the country will be held in February 2008, parliamentary affairs minister Dr Sher Afgan Niazi said. Talking to newsmen here on Saturday, he said present assemblies would complete their term on November 15 next year and it would take 9
Published 09 Apr, 2006 12:00am
US mobile firms see data services driving revenue

US mobile firms see data services driving revenue

Top US wireless executives estimate that mobile data services, such as video downloads and Web surfing, could rise to as much as a third of revenue in three years, providing new income as the price of phone calls falls.
Published 09 Apr, 2006 12:00am
Business Objects unveils new Web-delivered software

Business Objects unveils new Web-delivered software

Business Objects SA will introduce a Web-based version of its database marketing software on Monday, the latest company to push into the fast-growing market for applications delivered over the Internet.
Published 09 Apr, 2006 12:00am
German economic pickup to strengthen: Buba

German economic pickup to strengthen: Buba

A pickup in the German economy should gather pace in coming months and there are signs household spending strengthened at the start of the year, Bundesbank President Axel Weber said on Saturday.
Published 09 Apr, 2006 12:00am
EU should divert cash from farms to R&D: Germany

EU should divert cash from farms to R&D: Germany

The European Union needs a sweeping budget reform to redirect cash away from agriculture spending toward research, development and infrastructure, German Finance Minister Peer Steinbrueck said on Saturday.
Published 09 Apr, 2006 12:00am
UK call for new EU antitrust panel dismissed

UK call for new EU antitrust panel dismissed

British finance minister Gordon Brown urged European governments on Saturday to set up a tougher competition regime to combat protectionism, but the idea was dismissed by France and the EU's top antitrust watchdog.
Published 09 Apr, 2006 12:00am
French Prime Minister puts finishing touches to job law plans

French Prime Minister puts finishing touches to job law plans

French Prime Minister Dominique de Villepin was talking to ministers and members of the ruling party on Saturday to put the finishing touches on proposals to try and end the political crisis over a youth labour law.
Published 09 Apr, 2006 12:00am
Sri Lanka violence escalates; one dead

Sri Lanka violence escalates; one dead

Suspected Tamil Tigers killed one Sri Lankan soldier on Saturday and wounded two, the army said, while the rebels also said they had been shot at and cease-fire monitors warned rising violence could hit peace talks.
Published 09 Apr, 2006 12:00am
Rice exports cross $1 billion mark

Rice exports cross $1 billion mark

For the first time in the country''s history, Pakistan''s rice exports have crossed the $1 billion mark, to $1.002 billion, as a result of 2.81 million tons rice exported to different countries up to March 31.
Published 09 Apr, 2006 12:00am
Uniform vital for stability: Rashid

Uniform vital for stability: Rashid

Information minister Sheikh Rashid has said present assemblies could elect President General Musharraf for another term. "It is up to the President to choose present or the future parliament for his election for another term," the minister said while talk
Published 09 Apr, 2006 12:00am
Rice exports cross $1 billion mark

Rice exports cross $1 billion mark

For the first time in the country's history, Pakistan's rice exports have crossed the $1 billion mark, to $1.002 billion, as a result of 2.81 million tons rice exported to different countries up to March 31.
Published 09 Apr, 2006 12:00am
Rice exports cross $1 billion mark

Rice exports cross $1 billion mark

For the first time in the country's history, Pakistan's rice exports have crossed the $1 billion mark, to $1.002 billion, as a result of 2.81 million tons rice exported to different countries up to March 31.
Published 09 Apr, 2006 12:00am
Cement makers given week's time to rationalise prices

Cement makers given week's time to rationalise prices

The Ministry of Industries and Production has given one week to cement manufacturers to rationalise the prices of their product or be ready to face action against their monopolistic attitude, sources in Industries Ministry told Business Recorder.
Published 09 Apr, 2006 12:00am
Cement makers given week''s time to rationalise prices

Cement makers given week''s time to rationalise prices

The Ministry of Industries and Production has given one week to cement manufacturers to rationalise the prices of their product or be ready to face action against their monopolistic attitude, sources in Industries Ministry told Business Recorder.
Published 09 Apr, 2006 12:00am