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Print - 2006-05-03
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (May 02, 2006).

Published 03 May, 2006 12:00am
Indonesian oils: exports seen steady, trade eyes China demands

Indonesian oils: exports seen steady, trade eyes China demands

Palm oil exports from Indonesia, the world's second biggest palm oil producer, were seen steady this month despite the rupiah's rise but exporters expect demand from China to increase on seasonal needs for the summer months.
Published 03 May, 2006 12:00am
'Iran nuclear plan 'not compatible' with global demands'

'Iran nuclear plan 'not compatible' with global demands'

All five permanent members of the UN Security Council and Germany agree Iran's nuclear programme "is not compatible with the demands of the international community," a French official said after envoys wrapped up a meeting in Paris.
Published 03 May, 2006 12:00am
Islamabad and Tashkent sign pacts, MoUs to boost trade

Islamabad and Tashkent sign pacts, MoUs to boost trade

Pakistan and Uzbekistan on Tuesday signed agreements and memorandums of understanding (MoUs) to promote co-operation and interaction in various fields to further enhance bilateral relations and strengthen trade and economic ties.
Published 03 May, 2006 12:00am
New York cocoa up after hectic dollar-related trade

New York cocoa up after hectic dollar-related trade

US cocoa futures ended slightly higher on Monday as players took profits on a wave of speculative buying spurred by a weak dollar during a session that was a holiday in London, dealers said.
Published 03 May, 2006 12:00am
Islamabad and Tashkent sign pacts, MoUs to boost trade

Islamabad and Tashkent sign pacts, MoUs to boost trade

Pakistan and Uzbekistan on Tuesday signed agreements and memorandums of understanding (MoUs) to promote co-operation and interaction in various fields to further enhance bilateral relations and strengthen trade and economic ties.
Published 03 May, 2006 12:00am
New York coffee settles quietly mixed

New York coffee settles quietly mixed

Arabica coffee futures closed mixed on Monday in activity featuring small speculators as holidays in London and Brazil led to quiet trade, with players waiting for leads in the days ahead, dealers said.
Published 03 May, 2006 12:00am
Islamabad and Tashkent sign pacts, MoUs to boost trade

Islamabad and Tashkent sign pacts, MoUs to boost trade

Pakistan and Uzbekistan on Tuesday signed agreements and memorandums of understanding (MoUs) to promote co-operation and interaction in various fields to further enhance bilateral relations and strengthen trade and economic ties.
Published 03 May, 2006 12:00am
Malaysian April oil palm exports up

Malaysian April oil palm exports up

Exports of Malaysian oil palm products for April 1-30 stood at 1,182,614 tonnes, up 11.8 percent from the 1,057,879 tonnes reported for March 1-31, cargo surveyor Society General de Surveillance said on Tuesday.
Published 03 May, 2006 12:00am
Reorganisation of BoI ordered

Reorganisation of BoI ordered

Prime Minister Shaukat Aziz has said that the Board of Investment (BoI) will be reorganised and restructured to transform into a more vibrant organisation providing one-window operation for expeditious finalisation of local and foreign investment projects
Published 03 May, 2006 12:00am
South Korea tries auction of Chinese rice for consumers

South Korea tries auction of Chinese rice for consumers

South Korea will put Chinese rice on the auction block this week, an official said on Tuesday, as part of a deal Seoul has had trouble implementing under which it allows consumers to purchase foreign rice directly.
Published 03 May, 2006 12:00am
Reorganisation of BoI ordered

Reorganisation of BoI ordered

Prime Minister Shaukat Aziz has said that the Board of Investment (BoI) will be reorganised and restructured to transform into a more vibrant organisation providing one-window operation for expeditious finalisation of local and foreign investment projects
Published 03 May, 2006 12:00am
Asian gasoil higher

Asian gasoil higher

Asian middle distillate prices were lifted higher on Tuesday by robust US crude futures which topped $74 a barrel, while an ebbing arbitrage window to Africa led to a narrower cash gas oil premium.
Published 03 May, 2006 12:00am
Reorganisation of BoI ordered

Reorganisation of BoI ordered

Prime Minister Shaukat Aziz has said that the Board of Investment (BoI) will be reorganised and restructured to transform into a more vibrant organisation providing one-window operation for expeditious finalisation of local and foreign investment projects
Published 03 May, 2006 12:00am
South Korea seeks rapeseed meal, canola

South Korea seeks rapeseed meal, canola

South Korea's Nonghyup Feed Inc has issued a tender to buy up to 10,000 tonnes of optional-origin rapeseed meal for feed production, traders said on Tuesday.
Published 03 May, 2006 12:00am
Immediate returns unlikely on Pakistanis' investments abroad

Immediate returns unlikely on Pakistanis' investments abroad

Finance Ministry is not expecting immediate returns from the equity-based investment made by resident Pakistanis abroad. "Investment made by resident Pakistanis abroad is unlikely to generate major profit repatriation to Pakistan as the sponsors may retai
Published 03 May, 2006 12:00am
Egypt sells 2,228 tonnes of cotton in week

Egypt sells 2,228 tonnes of cotton in week

The Alexandria Cotton Exporters' Association (Alcotexa) said on Tuesday it had committed to sell 2,228 tonnes of cotton in the week which ended on April 29.
Published 03 May, 2006 12:00am
Immediate returns unlikely on Pakistanis' investments abroad

Immediate returns unlikely on Pakistanis' investments abroad

Finance Ministry is not expecting immediate returns from the equity-based investment made by resident Pakistanis abroad. "Investment made by resident Pakistanis abroad is unlikely to generate major profit repatriation to Pakistan as the sponsors may retai
Published 03 May, 2006 12:00am
Ivory Coast main crop cocoa exports sharply up

Ivory Coast main crop cocoa exports sharply up

Ivory Coast's exports of cocoa beans and semi-finished products for the October-March main crop rose sharply to 933,485 tonnes versus 856,038 tonnes the previous year, according to official data on Tuesday.
Published 03 May, 2006 12:00am
Immediate returns unlikely on Pakistanis'' investments abroad

Immediate returns unlikely on Pakistanis'' investments abroad

Finance Ministry is not expecting immediate returns from the equity-based investment made by resident Pakistanis abroad. "Investment made by resident Pakistanis abroad is unlikely to generate major profit repatriation to Pakistan as the sponsors may retai
Published 03 May, 2006 12:00am
Imported Australian wheat safe to eat: India

Imported Australian wheat safe to eat: India

India on Tuesday said follow-up tests had shown a cargo of wheat imported from Australia contained a safe amount of pesticide and that the shipment had been cleared.
Published 03 May, 2006 12:00am
SECP and banks reviewing new product to replace CFS

SECP and banks reviewing new product to replace CFS

The Securities and Exchange Commission (SECP) is currently in the process of discussion with banks and market participants on a new product to replace the existing Continuous Funding System (CFS), the approval would help in removing the cap imposed last y
Published 03 May, 2006 12:00am
Australian beef exports may ease slightly

Australian beef exports may ease slightly

Australia's booming beef exports will be strong in 2006 but could start easing later in the year when US beef re-enters the Japanese and Korean markets, two major banks said on Tuesday.
Published 03 May, 2006 12:00am
SECP and banks reviewing new product to replace CFS

SECP and banks reviewing new product to replace CFS

The Securities and Exchange Commission (SECP) is currently in the process of discussion with banks and market participants on a new product to replace the existing Continuous Funding System (CFS), the approval would help in removing the cap imposed last y
Published 03 May, 2006 12:00am
MGE wheat higher, follows strength in KCBT

MGE wheat higher, follows strength in KCBT

Spring wheat futures at the Minneapolis Grain Exchange closed mostly higher on Monday in light trade, tracking weather-related advances in the Kansas City wheat market, traders said.
Published 03 May, 2006 12:00am
SECP and banks reviewing new product to replace CFS

SECP and banks reviewing new product to replace CFS

The Securities and Exchange Commission (SECP) is currently in the process of discussion with banks and market participants on a new product to replace the existing Continuous Funding System (CFS), the approval would help in removing the cap imposed last y
Published 03 May, 2006 12:00am
Asian oil swaps: up on crude, regrade firms

Asian oil swaps: up on crude, regrade firms

Asian oil product swaps rose on Tuesday, tracking firmer US crude futures that rose to near $74 a barrel, and jet fuel's premium to gas oil firmed on Chinese demand.
Published 03 May, 2006 12:00am
Pakistan won't let US question freed scientist

Pakistan won't let US question freed scientist

US investigators probing nuclear proliferation would not be allowed to meet a Pakistan scientist recently released from detention, officials said on Tuesday. Authorities last month released Mohammad Farooq, a former director of procurement at a uranium en
Published 03 May, 2006 12:00am
IRRI exports dwindle on low stocks

IRRI exports dwindle on low stocks

Pakistani rice prices held firm in the past week due to low stocks and traders said on Tuesday activity would remain slow as the market awaited fresh supplies from the new crop. They said exports of IRRI variety had dwindled on falling stocks and basmati
Published 03 May, 2006 12:00am
Pakistan won't let US question freed scientist

Pakistan won't let US question freed scientist

US investigators probing nuclear proliferation would not be allowed to meet a Pakistan scientist recently released from detention, officials said on Tuesday. Authorities last month released Mohammad Farooq, a former director of procurement at a uranium en
Published 03 May, 2006 12:00am
Masoor dal and Urad Burma sharply up

Masoor dal and Urad Burma sharply up

Upward trend was seen on the grain market on Tuesday and several buyers were on the sideline due to higher trend in the prices, dealers said. On the cereals side, Masoor dal gained Rs 100 in process of trading, they said. Urad from Burma rose by Rs 200 to
Published 03 May, 2006 12:00am
Thai handicrafts, flowers exhibition

Thai handicrafts, flowers exhibition

An exhibition of Thai handicrafts and flowers along with the display of the mokorabilia would be held here from May 6-7 at the Pearl Continental Hotel. The exhibition is in accordance with the 60th anniversary of the accession to the Thai Throne by His Ma
Published 03 May, 2006 12:00am
Tea prices mixed on Jodia Bazar

Tea prices mixed on Jodia Bazar

The trading on tea sector moved both ways on Jodia Bazar on Tuesday. The following changes were seen in the Kenyan tea PF-1 A grade up Rs 5 to Rs 189, B grade up Rs 3 to Rs 180, plus C grade up Rs 3 to Rs 169, D-1 A grade up Rs 14 to Rs 202.
Published 03 May, 2006 12:00am
Establishment of power generation through wind energy on the cards

Establishment of power generation through wind energy on the cards

The establishment of power generation through wind energy in Sindh province is on cards. This was stated by the Advisor to the Chief Minister for Environment, Alternative Energy and Information Technology in a statement issued here on Tuesday.
Published 03 May, 2006 12:00am
Oil cake market rates

Oil cake market rates

Firmness prevailed in the forward cottonseed market on Tuesday as most of the traders were found busy in fresh buying, dealers said. The May vaida commenced unchanged at Rs 515.50. In process of trading, it gained 50 paisa to be day's best at Rs 516.00 an
Published 03 May, 2006 12:00am
Islamabad proposes fencing, mining on Afghan side of border

Islamabad proposes fencing, mining on Afghan side of border

Pakistan on Tuesday proposed fencing and mining on the Afghan side of the Pakistan-Afghanistan border to check any illegal crossing as the Netherlands sought Islamabad's help in intelligence sharing in the wake of deployment of Dutch troops in Uruzgan pro
Published 03 May, 2006 12:00am
CBOT wheat futures up on fund buying

CBOT wheat futures up on fund buying

Wheat futures at the Chicago Board of Trade closed higher on Monday on technical fund buying and ideas that much-needed weekend rains in the US Plains fell short of expectations, traders said.
Published 03 May, 2006 12:00am
Next year's tax target may go up to Rs 850 billion

Next year's tax target may go up to Rs 850 billion

The revenue collection target for 2006-07 would range between Rs 825 billion and Rs 850 billion, taking into account 20 percent estimated growth in revenue during the next financial year.
Published 03 May, 2006 12:00am
FOB Gulf corn and soya lower amid thin export demand

FOB Gulf corn and soya lower amid thin export demand

US FOB Gulf corn and soyabean basis offers dropped on Monday amid thin export demand, while wheat was choppy, traders said. Soyabean export premiums were weaker but underpinned by tight supplies, despite some country movement on Monday sparked by a rally
Published 03 May, 2006 12:00am
Next year's tax target may go up to Rs 850 billion

Next year's tax target may go up to Rs 850 billion

The revenue collection target for 2006-07 would range between Rs 825 billion and Rs 850 billion, taking into account 20 percent estimated growth in revenue during the next financial year.
Published 03 May, 2006 12:00am
US Midwest bids for corn and soya mostly steady

US Midwest bids for corn and soya mostly steady

Spot basis bids for corn and soyabeans were mostly steady around the US Midwest on Tuesday but soyabean bids fell in Iowa after a few days of farmer selling, grain dealers said.
Published 03 May, 2006 12:00am
Next year''s tax target may go up to Rs 850 billion

Next year''s tax target may go up to Rs 850 billion

The revenue collection target for 2006-07 would range between Rs 825 billion and Rs 850 billion, taking into account 20 percent estimated growth in revenue during the next financial year.
Published 03 May, 2006 12:00am
Cosco's profit jumps on ship repairs

Cosco's profit jumps on ship repairs

Cosco Corp, a ship repair and bulk shipping company controlled by China's biggest shipping firm, said on Tuesday its quarterly profit jumped 46 percent thanks to brisk demand at its China shipyards.
Published 03 May, 2006 12:00am
CBR appoints budget coordinator

CBR appoints budget coordinator

The Central Board of Revenue (CBR) has appointed Human Resource Management (HRM) Chief Raza Baqir as budget co-ordinator. According to another notification issued on Tuesday.
Published 03 May, 2006 12:00am
Cosco's profit jumps on ship repairs

Cosco's profit jumps on ship repairs

Cosco Corp, a ship repair and bulk shipping company controlled by China's biggest shipping firm, said on Tuesday its quarterly profit jumped 46 percent thanks to brisk demand at its China shipyards.
Published 03 May, 2006 12:00am
Oversold position boosts KSE index

Oversold position boosts KSE index

Oversold position and smooth rollover of futures contracts allowed leading investors to take fresh positions in cement, oil and gas stocks helping the KSE index score more than 200 points.
Published 03 May, 2006 12:00am
Container liner NOL's March cargo rises

Container liner NOL's March cargo rises

Neptune Orient Lines, the world's sixth-biggest container liner, carried 5 percent more containers on its ships in the four weeks to April 7, after a decline earlier in the year.
Published 03 May, 2006 12:00am
Oversold position boosts KSE index

Oversold position boosts KSE index

Oversold position and smooth rollover of futures contracts allowed leading investors to take fresh positions in cement, oil and gas stocks helping the KSE index score more than 200 points.
Published 03 May, 2006 12:00am
Container liner NOL's March cargo rises

Container liner NOL's March cargo rises

Neptune Orient Lines, the world's sixth-biggest container liner, carried 5 percent more containers on its ships in the four weeks to April 7, after a decline earlier in the year.
Published 03 May, 2006 12:00am
Oversold position boosts KSE index

Oversold position boosts KSE index

Oversold position and smooth rollover of futures contracts allowed leading investors to take fresh positions in cement, oil and gas stocks helping the KSE index score more than 200 points.
Published 03 May, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 309,367 tonnes of cargo including 234,197 tonnes import and 75,170 tonnes export cargo including 2,405 containers during last 72 hours ending at 0700 hours on Tuesday.
Published 03 May, 2006 12:00am
BRIndex30 up 2.78 percent

BRIndex30 up 2.78 percent

The BRIndex30 saw a gain of 337.69, or 2.78 percent, with the high of 12,477.35 and low of 12,135.43 before closing at 12,477.35. The volume amounted to 212,202,600, which was 85.82 percent of total market and 93.30 percent of KSE-100 index. The volumes o
Published 03 May, 2006 12:00am
HRW wheat bids roll

HRW wheat bids roll

Cash movement of hard red winter wheat remained slow in the US Plains on Tuesday, with most dealers rolling their bids to post against the July contract.
Published 03 May, 2006 12:00am
BRIndex30 up 2.78 percent

BRIndex30 up 2.78 percent

The BRIndex30 saw a gain of 337.69, or 2.78 percent, with the high of 12,477.35 and low of 12,135.43 before closing at 12,477.35. The volume amounted to 212,202,600, which was 85.82 percent of total market and 93.30 percent of KSE-100 index. The volumes o
Published 03 May, 2006 12:00am
Bangladesh tea prices jump

Bangladesh tea prices jump

The average price of Bangladesh teas leaped more than 108 percent to 93.25 taka ($1.34) per kg at the opening auction of the season on Tuesday, brokers said. The average price at the final auction of the previous season (April-March) held on March 14, was
Published 03 May, 2006 12:00am
Jamali meets Arbab

Jamali meets Arbab

Former prime minister Mir Zafarullah Jamali on Tuesday had a meeting with Sindh Chief Minister Dr Arbab Ghulam Rahim at Chief Minister House and exchanged views on matters of mutual interests.
Published 03 May, 2006 12:00am
PDF to begin from May 10

PDF to begin from May 10

The two-day annual Pakistan Development Forum (PDF) will begin here at Jinnah Convention Center from May 10 in which major development partners and donors are likely to review the economic performance and the achievements of Pakistan on the economic front
Published 03 May, 2006 12:00am
Wolfensohn steps down as Gaza envoy

Wolfensohn steps down as Gaza envoy

Former World Bank president James Wolfensohn formally stepped down Monday as economic co-ordinator for Gaza, saying the rise of a Hamas-led Palestinian government made his job untenable.
Published 03 May, 2006 12:00am
'Inspired Gambit' begins

'Inspired Gambit' begins

Afghan, Pakistani and US troops began two days of joint military exercises on Tuesday aimed at better co-ordinating the hunt for al Qaeda and Taleban militants, officials said.
Published 03 May, 2006 12:00am
'Inspired Gambit' begins

'Inspired Gambit' begins

Afghan, Pakistani and US troops began two days of joint military exercises on Tuesday aimed at better co-ordinating the hunt for al Qaeda and Taleban militants, officials said.
Published 03 May, 2006 12:00am
Bullish trend prevails on LSE

Bullish trend prevails on LSE

Bullish trend prevailed on the Lahore Stock Exchange (LSE) where equities, led by National Bank and D.G. Khan Cement, recorded gains across the board mainly on account of fresh buying.
Published 03 May, 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 03 May, 2006 12:00am
Bullish trend prevails on LSE

Bullish trend prevails on LSE

Bullish trend prevailed on the Lahore Stock Exchange (LSE) where equities, led by National Bank and D.G. Khan Cement, recorded gains across the board mainly on account of fresh buying.
Published 03 May, 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 03 May, 2006 12:00am
ISE: bulls stage comeback

ISE: bulls stage comeback

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where fresh buying spree in trend-setters moved the entire ready-board in upward direction amid increase in index.
Published 03 May, 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 Tuesday (May 02, 2006).

Published 03 May, 2006 12:00am
ISE: bulls stage comeback

ISE: bulls stage comeback

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where fresh buying spree in trend-setters moved the entire ready-board in upward direction amid increase in index.
Published 03 May, 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 Tuesday (May 02, 2006).

Published 03 May, 2006 12:00am
Credit Suisse profits surge

Credit Suisse profits surge

Credit Suisse has beaten the most optimistic forecasts with a first-quarter net profit of 2.6 billion Swiss francs ($2.10 billion), driven by its investment banking and wealth management businesses.
Published 03 May, 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 Tuesday (May 02, 2006).

Published 03 May, 2006 12:00am
Credit Suisse profits surge

Credit Suisse profits surge

Credit Suisse has beaten the most optimistic forecasts with a first-quarter net profit of 2.6 billion Swiss francs ($2.10 billion), driven by its investment banking and wealth management businesses.
Published 03 May, 2006 12:00am
Partial UK win in EU tax case still seen costly

Partial UK win in EU tax case still seen costly

The British government won a partial victory on Tuesday as an adviser to the top EU court said it could stop artificial arrangements to avoid tax via foreign units, but lawyers said proving "artificial" could be difficult.
Published 03 May, 2006 12:00am
ANF workshop for teachers opens today

ANF workshop for teachers opens today

The Anti-Narcotic Force (ANF), Sindh, is organising a two-day training workshop from May 3 to 4, aimed at creating awareness among teachers and students against drug abuse.
Published 03 May, 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 Tuesday (May 02, 2006).

Published 03 May, 2006 12:00am
Cop killed in encounter

Cop killed in encounter

A police constable, Abdul Rasheed was killed and other injured while a passer-by Malik Faiz Bakhsh also injured when a number of outlaws attacked the police van and got released their accomplices just before production before the court the court in Alipur
Published 03 May, 2006 12:00am
EU to apply competition rules to Gazprom

EU to apply competition rules to Gazprom

The European Union said on Tuesday it would apply the same competition rules to Russian gas giant Gazprom as to any European firm, taking the company's export monopoly into account.
Published 03 May, 2006 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (May 02, 2006).
Published 03 May, 2006 12:00am
Rs 38.57 million water management project launched for lower Sindh areas

Rs 38.57 million water management project launched for lower Sindh areas

The Pakistan Council of Research in Water Resources (PCRWR) has launched a project titled 'Sustainable Technologies for Efficient Water Management in Irrigated Areas of Southern Indus Plain', which will be completed at a cost of Rs 38.57 million in five y
Published 03 May, 2006 12:00am
Banking sector profits up 99 percent

Banking sector profits up 99 percent

The country's commercial banking sector was the most profit earning sector for the year 2005 among 34 listed sectors at KSE. The net earnings of the sector's institutions climbed by almost 99 percent during the period.
Published 03 May, 2006 12:00am
Condolence

Condolence

Chairman Pakistan Cricket Board Shaharyar M Khan has expressed its deep sorrow over the sad demise of former chairman PCB Lieutenant General Safdar Butt (Retd).
Published 03 May, 2006 12:00am
Function

Function

Federal Information Minister Muhammad Ali Durrani will address a function to be held in connection with the World Press Freedom Day here at Press Institute of Pakistan on Wednesday (May 3).
Published 03 May, 2006 12:00am
Government urged to start work on ethanol fuel plan

Government urged to start work on ethanol fuel plan

A spokesman of Pakistan Sugar Mills Association (PSMA) has urged the government to immediately start work on 'Ethanol Fuel Programme' to check further increase in inflation.
Published 03 May, 2006 12:00am
HBFC to develop, finance housing scheme in Gwadar

HBFC to develop, finance housing scheme in Gwadar

The House Building Finance Corporation (HBFC) has inked 3-MoUs with Gwadar Development Authority (GDA) and District Nazim, Gwadar. These are for design, development and construction of small and medium-cost housing scheme on a 63 acres piece of land in Gw
Published 03 May, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 03 May, 2006 12:00am