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Print - 2006-05-06
US MIDDAY: coffee dips

US MIDDAY: coffee dips

Arabica coffee futures shed just over 1 percent Friday, with speculative selling dragging the benchmark contract down to a one-week low, traders said.
Published 06 May, 2006 12:00am
US MIDDAY: sugar jumps

US MIDDAY: sugar jumps

Raw sugar futures ended higher Friday on speculative and trade buying as the market bounced from a fall to a week low, but dealings next week may be subdued next week because of an industry dinner, brokers said.
Published 06 May, 2006 12:00am
US MIDDAY: corn firms

US MIDDAY: corn firms

Chicago Board of Trade corn futures were firm early Friday on a technical bounce, supported by the rally in the wheat market and the strength in gold, traders said.
Published 06 May, 2006 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

Soft red winter wheat futures on the Chicago Board of Trade were up sharply at midsession on Friday after a bullish private crop estimate triggered fund buying and pushed the market into buy-stops, traders said.
Published 06 May, 2006 12:00am
US MIDDAY: soyabeans higher

US MIDDAY: soyabeans higher

Soyabean futures at the Chicago Board of Trade were called to open 3 to 5 cents per bushel higher on Friday on a technical bounce, following soyaoil and the energy markets higher, traders said.
Published 06 May, 2006 12:00am
US MIDDAY: copper eases

US MIDDAY: copper eases

US copper futures touched highs set overnight early on Friday, when US payrolls came in well below forecasts, suggesting the Federal Reserve could take a break from raising interest rates, but sellers came in soon to take profits before the weekend, broke
Published 06 May, 2006 12:00am
US MIDDAY: gold trims gain

US MIDDAY: gold trims gain

US benchmark gold futures rose early on Friday after the dollar fell on a weaker-than-expected US jobs report for April, though the metal held below an overnight 25-year high on profit-taking.
Published 06 May, 2006 12:00am
CDGCLC to appoint members in each town

CDGCLC to appoint members in each town

City District Government Chamber Liaison Committee (CDGCLC) will appoint 36 members of business community or two member each in 18 towns of the city to help business community to resolve their issues.
Published 06 May, 2006 12:00am
Arshad made DuPont general manager

Arshad made DuPont general manager

DuPont Pakistan on Friday announced the appointment of Arshad Shafiq as General Manager, DuPont Pakistan and Business Manager, DuPont Crop Protection. He takes over from Asif Ikram who is retiring on June 30, 2006 after 26 years of distinguished service w
Published 06 May, 2006 12:00am
Karachi City Council to discuss budget today

Karachi City Council to discuss budget today

A meeting of Karachi City District Council will be held on Saturday at City Council Hall to discuss the 2006-07 budget draft. The Finance and Planning Committee of the City government, headed by Itrat Akhtar, will submit its report based on recommendation
Published 06 May, 2006 12:00am
Traders demand increase in Haj quota

Traders demand increase in Haj quota

The Faisalabad Chamber of Commerce and Industry (FCCI) has demanded that direct Haj flights should be started from Faisalabad and Faisalabad Haj Complex should be established on priority basis.
Published 06 May, 2006 12:00am
Traders urged to help Erra

Traders urged to help Erra

The business community should come forward to provide building material for construction of houses for the survivors of October 8 earthquake. But the supply should be profitless. Earthquake Rehabilitation and Reconstruction Authority (Erra) Director Gener
Published 06 May, 2006 12:00am
FCCI opposes raise in POL prices

FCCI opposes raise in POL prices

Faisalabad Chamber of Commerce and Industry (FCCI) has condemned recent increase in petroleum and oil products and demanded its immediate withdrawal.
Published 06 May, 2006 12:00am
Government strengthening PCRWR infrastructure

Government strengthening PCRWR infrastructure

The government is implementing a project for strengthening of Pakistan Council of Research in Water Resources (PCRWR) by establishing geographical information system (GIS), hydrologic modelling center and water resources data bank with the total cost of R
Published 06 May, 2006 12:00am
12.39 million cotton bales produced: PCGA

12.39 million cotton bales produced: PCGA

The country has produced 12.394 million cotton bales during the 2005-06 season against an official target of 13 million bales, said the final report issued by the Pakistan Cotton Ginners Association (PCGA) head office here on Friday.
Published 06 May, 2006 12:00am
Freedom unlimited

Freedom unlimited

The media of any country hold the responsibility of creating awareness amongst the masses and, more importantly, of discerning the facts from exaggeration. Since the birth of our nation, we have been pelted with media protests about the lack of freedom of
Published 06 May, 2006 12:00am
Iran's nuclear programme

Iran's nuclear programme

It is a fact that the Iranian leadership consolidated its firm objectives towards its nuclear programme and decided to face any aggression from the West with determination. It is not fair to keep Iran under threat and under constant stress.
Published 06 May, 2006 12:00am
Gas price increase

Gas price increase

The Landhi Association has expressed shock and grief over the recent proceedings of the OGRA public hearing regarding the increase in gas prices from Rs 29.36 per MMBTU for the commercial and industrial consumers with effect from July 1, 2006.
Published 06 May, 2006 12:00am
Caribbeans in for another bad hurricane season

Caribbeans in for another bad hurricane season

Small Caribbean and Central American countries have suffered devastation and thousands of deaths from increasingly frequent hurricanes, and forecasters predict another rough season this year for the region and its tourist resorts.
Published 06 May, 2006 12:00am
Questionable privatisation of Pakistan Steel

Questionable privatisation of Pakistan Steel

The divestment of Pakistan Steel Mills Corporation, commonly known as Pakistan Steel Karachi, has exposed the government to sharp criticism. The giant integrated steel-making complex - a profit making state enterprise - has been sold at a throwaway price
Published 06 May, 2006 12:00am
A timely wake-up call

A timely wake-up call

Speakers at a seminar in Karachi, organised by the Aga Khan Education Service, called for bringing about a holistic change in the country's education system so that the current outdated set-up could be replaced with new advanced methodologies of teaching.
Published 06 May, 2006 12:00am
Strengthening the Planning Commission

Strengthening the Planning Commission

Hidden though it may be, there has always been a rivalry in our country between the Planning Commission and the economic ministries, particularly the Finance, to attract the attention of the powers that be.
Published 06 May, 2006 12:00am
Services of Suparco lauded

Services of Suparco lauded

The Department of Electronics, Telecommunication Engineering of Mehran University of Engineering & Technology facilitated Suparco, who conducted recruitment test for fresh graduates held on May 4, 2006 at Jamshoro on Wednesday.
Published 06 May, 2006 12:00am
HEC project to develop MUET approved

HEC project to develop MUET approved

A project submitted by Higher Education Commission (HEC) to strengthen and develop Mehran University of Engineering and Technology, Jamshoro has been approved by the Central Developmental Working Party (CDWP) in its recent meeting.
Published 06 May, 2006 12:00am
Clothing trade growing at faster rate

Clothing trade growing at faster rate

The clothing trade is growing at a faster rate, stated by Textile Commissioner, Muhammad Idrees Ahmed, here. He pointed out that Pakistan exported textiles worth dollars 6.12 billion and clothing worth dollars 3.03 billion in the year 2004. Idrees was of
Published 06 May, 2006 12:00am
NWFP prohibits kite flying around airport, airbase

NWFP prohibits kite flying around airport, airbase

The NWFP Assembly on Friday passed amendment in North-West Frontier Province Prohibition of Kite Flying Activities Bill, 2006 amid hue and cry of the members of PPP-Parliamentarian and ANP over the inclusion of six kilometre radius surrounding the airport
Published 06 May, 2006 12:00am
Expo center in Sialkot demanded

Expo center in Sialkot demanded

Local exporter community has appealed to the Punjab government to set up 'expo center' in this export-oriented city and hub of cottage industry of the country. The establishment of expo center in this export hub has become more imperative at this juncture
Published 06 May, 2006 12:00am
Growers team leaves for Australia on May 9

Growers team leaves for Australia on May 9

An 11-member delegation comprising government officials, citrus growers, processors and horticulture experts are leaving for Australia on May 9, on a two-week industry familiarisation visit under the citrus section of the Agriculture Sector Linkages Progr
Published 06 May, 2006 12:00am
Stone-laying of Sialkot Expo Centre on May 7

Stone-laying of Sialkot Expo Centre on May 7

Sialkot Chamber of Commerce and Industry (SCCI) President Dr Nouman Idris Butt has said that stone laying ceremony of Sialkot Expo Centre will be held on Monday.
Published 06 May, 2006 12:00am
Over 0.8 million tonnes wheat procured

Over 0.8 million tonnes wheat procured

The Punjab Food Department since April 20 last has purchased over 810,000 tonnes of wheat from farmers on cash payment at the support price of Rs 413 per 40 kg across the province.
Published 06 May, 2006 12:00am
First fashion designers directory launched

First fashion designers directory launched

Pakistan's first fashion designers' directory was launched at a local hotel on Thursday evening. The directory, compiled by the Almurtaza Machinery Company carried 1,000 entries.
Published 06 May, 2006 12:00am
The Weather

The Weather

The weather report on Friday (May 05, 2006) and the forecast for Saturday (May 06, 2006).
Published 06 May, 2006 12:00am
Hifz-o-Qirat contest winners get prizes

Hifz-o-Qirat contest winners get prizes

As many as 24 winners of 22nd National Hifz-o-Qirat competition, organised by Ministry of Religious Affairs, were awarded cash prizes and certificates at Madina-tul-Hujjaj (Haji Camp) here.
Published 06 May, 2006 12:00am
New York cotton

New York cotton

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

Published 06 May, 2006 12:00am
Mirwaiz irked over India's rigid attitude

Mirwaiz irked over India's rigid attitude

All Parties Hurriyat Conference (APHC) Chairman Mirwaiz Omar Farooq has said that Indian attitude is main hurdle in solution of Kashmir problem. Talking to BBC after his meeting with Indian Prime Minister Manmohan Singh in New Delhi, he said that they dis
Published 06 May, 2006 12:00am
New York cotton

New York cotton

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

Published 06 May, 2006 12:00am
FCCI seeks reduction of rate, number of taxes

FCCI seeks reduction of rate, number of taxes

The Faisalabad Chamber of Commerce and Industry (FCCI) has emphasised the need for further broadening tax base in the best interest of the country and urged the government to reduce rate & number of taxes with simplification of procedures.
Published 06 May, 2006 12:00am
M2 growth registers decline

M2 growth registers decline

The State Bank of Pakistan (SBP) said on Thursday the pace of broad money (M2) growth during the first nine-and-a-half months of 2005-06 registered a decline, touching 10.14 percent (Rs 300.84 billion) from 12.91 percent (Rs 320.99 billion) in the corresp
Published 06 May, 2006 12:00am
Corps Commander meets Ibad

Corps Commander meets Ibad

Commander 5-Corps Lieutenant General Ahsan Azhar Hayat called on Sindh Governor Dr Ishrat-ul-Ibad Khan at Governor House on Friday. He remained with the governor for some time and discussed matters of common interest.
Published 06 May, 2006 12:00am
Rear Admiral Rao promoted

Rear Admiral Rao promoted

The government of Pakistan has announced the promotion of Rear Admiral Iftikhar Ahmed Rao, HI (M) to the rank of Vice Admiral, notified by ministry of defence on Friday.
Published 06 May, 2006 12:00am
Class system in Railways to be abolished: Rashid

Class system in Railways to be abolished: Rashid

Federal Minister for Railways Sheikh Rashid Ahmed said on Friday that after developing Pakistan Railways on modern lines, it would become most effective mode of communication.
Published 06 May, 2006 12:00am
Water inflows in Indus 30 percent less than last year

Water inflows in Indus 30 percent less than last year

The water inflows in River Indus and its tributaries are 30 percent less than the inflows of last year in the first week of May, which is the peak time for sowing of cotton in Punjab and Sindh, official sources told Business Recorder here on Thursd
Published 06 May, 2006 12:00am
MoWD releases Rs 262 million for GRAP

MoWD releases Rs 262 million for GRAP

Ministry of Women Development has released Rs 262 million, out of total allocated amount of Rs 280 million for Gender Reform Action Plan (GRAP).
Published 06 May, 2006 12:00am
Schedule for PML elections announced

Schedule for PML elections announced

Chairman Election Co-ordination Committee of Pakistan Muslim League, Kamal Ali Agha on Friday announced the schedule for party elections which would be completed by August 12 with the election of the party president.
Published 06 May, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (May 05, 2006) and for Saturday (May 06, 2006).
Published 06 May, 2006 12:00am
Dry ports be restricted for exports only: KCCI

Dry ports be restricted for exports only: KCCI

The Karachi Chamber of Commerce and Industry (KCCI) has recommended to the federal government that the use of dry ports be restricted for exports only. In a communication to the government, the KCCI further suggested all imports consignment should be clea
Published 06 May, 2006 12:00am
CDGK to build multistoried parking plazas

CDGK to build multistoried parking plazas

City Nazim Syed Mustafa Kamal has said that seven multi-storey car-parking plazas would be constructed at various spots in the metropolis to meet the growing number of vehicles coming out on city's roads everyday.
Published 06 May, 2006 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
Dawood Management assigned 'AM3' rating

Dawood Management assigned 'AM3' rating

The Pakistan Credit Rating Agency (Pacra) has assigned the asset manager rating of 'AM3' to Dawood Capital Management Limited (DCM). The rating reflects the company's strong capacity to manage the risks inherent in asset management and the asset manager m
Published 06 May, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
Dawood Management assigned 'AM3' rating

Dawood Management assigned 'AM3' rating

The Pakistan Credit Rating Agency (Pacra) has assigned the asset manager rating of 'AM3' to Dawood Capital Management Limited (DCM). The rating reflects the company's strong capacity to manage the risks inherent in asset management and the asset manager m
Published 06 May, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
SSGC asked to provide gas to Badin, Chaman and Pishin

SSGC asked to provide gas to Badin, Chaman and Pishin

Senate Committee on Petroleum and Natural Resources has asked Sui Southern Gas Company (SSGC) to set up more customer facilitation centres and provide gas to Badin, Chaman and Pishin areas.
Published 06 May, 2006 12:00am
Tariq Sayeed conferred FPCCI special gold medal

Tariq Sayeed conferred FPCCI special gold medal

The Federation of Pakistan Chambers of Commerce and Industry (FPCC) has conferred special gold medal on Tariq Sayeed for "his splendid efforts and matchless services to international and regional economic organisations", on behalf of FPCCI, and for projec
Published 06 May, 2006 12:00am
Airblue to launch Gwadar flight by month-end

Airblue to launch Gwadar flight by month-end

The private sector carrier, Airblue would soon add socio-economic routes to its system to be able to stand alongside national carrier, Pakistan International Airlines (PIA), on domestic operations.
Published 06 May, 2006 12:00am
THE RUPEE: dollar stay put in interbank

THE RUPEE: dollar stay put in interbank

The rupee retained its overnight levels versus the dollar in the interbank market on Friday at 60.06 and 60.07 ahead of the weekend, dealers said.
Published 06 May, 2006 12:00am
Call to make microfinance sector more vibrant

Call to make microfinance sector more vibrant

The Deputy Governor, State Bank of Pakistan (SBP), Mansoor-ur-Rehman has said that the combined outreach of all micro-finance institutions (MFIs), totalling around half a million clients, is less than 10 percent of the potential clientele base of more tha
Published 06 May, 2006 12:00am
THE RUPEE: dollar stay put in interbank

THE RUPEE: dollar stay put in interbank

The rupee retained its overnight levels versus the dollar in the interbank market on Friday at 60.06 and 60.07 ahead of the weekend, dealers said.
Published 06 May, 2006 12:00am
Hearing put off

Hearing put off

An accountability court on Friday adjourned till May 12, the proceedings in a reference against acting president PML-N Javed Hashmi MNA after recording the statement of two defence witnesses.
Published 06 May, 2006 12:00am
PML-N leaders, workers granted bail

PML-N leaders, workers granted bail

An anti-terrorism court on Friday allowed bail to Khawaja Saad Rafiq MNA, PML-N Punjab secretary Zaeem Qadri and 11 other party workers. The court also directed the applicants to submit surety bond of Rs 50,000 each for the satisfaction of registrar of th
Published 06 May, 2006 12:00am
Cancer treatment getting more expensive

Cancer treatment getting more expensive

With advancement in technology and new medicines, cancer treatment was becoming ever more expensive; and Shaukat Khanum Memorial Cancer Hospital's budget had reached to Rs 1.4 billion.
Published 06 May, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
PKM team calls on PSMA chief

PKM team calls on PSMA chief

A delegation of Pakistan Kissan Movement (PKM) called on central chairman of Pakistan Sugar Mills Association (PSMA) Chaudhry Zaka Ashraf here on Friday.
Published 06 May, 2006 12:00am
'Labour laws not conforming to ILO-standards'

'Labour laws not conforming to ILO-standards'

Labour laws in Pakistan are not in conformity to the international labour standards, said ILO Geneva Policy Planning Director Dr Rashid Amjad here on Friday.
Published 06 May, 2006 12:00am
Sindh ombudsman presents annual report to Ibad

Sindh ombudsman presents annual report to Ibad

Sindh Ombudsman Yousuf Jamal on Friday presented the Annual Report-2005 to Sindh Governor Dr Ishratul Ibad Khan at Governor House. According to the report the number of individual complaints received during the year stood at 8,846 as compared to 7,813 in
Published 06 May, 2006 12:00am
Abid Sattar appointed HBL SEVP

Abid Sattar appointed HBL SEVP

Habib Bank Limited (HBL) announced the appointment of Abid Sattar as Senior Executive Vice President (SEVP) and Group Executive (GE) Retail banking effective from April 24, 2006, said a press release.
Published 06 May, 2006 12:00am
Medicines worth $61.8 million exported in 2005

Medicines worth $61.8 million exported in 2005

Under Secretary for International Trade, the US Department of Commerce, Frank Lavin called on Minister for Health, Muhammad Nasir Khan, here on Friday.
Published 06 May, 2006 12:00am
2500 Balochistan villages to be energised in 2 years

2500 Balochistan villages to be energised in 2 years

As many as 2,500 villages of Balochistan province will be electrified on priority basis during the next two years. Wapda sources told APP here on Friday that the existing two-year target of providing electricity to 1600 villages would be achieved before t
Published 06 May, 2006 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
Tremor jolts Hazara

Tremor jolts Hazara

An earthquake of mild intensity measuring 4.0 on the international Richter scale on Friday jolted Mansehra and Battagram districts. According to the preliminary analysis of Met office Peshawar, the earthquake originated at 1314 hours (PST) and its epicent
Published 06 May, 2006 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (May 05, 2006).

Published 06 May, 2006 12:00am
Swiss foreign minister meets NWFP chief secretary

Swiss foreign minister meets NWFP chief secretary

The Foreign Minister of Switzerland Mrs Michelin Calmy-Rey along with a delegation met the NWFP Chief Secretary Ejaz Ahmad Qureshi here on Friday. Additional Chief Secretary and secretaries of Local Government, Labour and Environment Departments were also
Published 06 May, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2006 12:00am
UN urged to reject 7 states for new human rights council

UN urged to reject 7 states for new human rights council

The Human Rights Watch on Wednesday urged the United Nation members to reject seven of the 65 nations seeking seats on the world body's new Human Rights Council in elections scheduled for Tuesday.
Published 06 May, 2006 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2006 12:00am
Action against Drug Act violation ordered

Action against Drug Act violation ordered

The 17th meeting of Islamabad Capital Territory (ICT) Quality Control Board presided by the Chief Commissioner Khalid Pervez held here on Friday. The Quality Control Board discussed 10 violation cases of Drug Act 1976 and directed the Drug Inspector to su
Published 06 May, 2006 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 06 May, 2006 12:00am
'Ecota to be implemented soon'

'Ecota to be implemented soon'

It is expected that Economic Co-operation Organisation Trade Agreement (Ecota) would be soon implemented which will allow free trade between ECO countries, former envoy Javed Hussain said on Friday. Talking to PTV, he said that basic purpose of ECO is to
Published 06 May, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (May 05, 2006).

Published 06 May, 2006 12:00am