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Print - 2006-05-10
New York cotton extends gain

New York cotton extends gain

Cotton futures settled on positive ground Tuesday, for the third consecutive session, thanks to speculators buying back their short positions amid relatively thin trading volume, market sources said.
Published 10 May, 2006 12:00am
London sugar moves up

London sugar moves up

London white sugar futures closed higher after index funds piled into commodity markets in late buying on Tuesday, traders said.
Published 10 May, 2006 12:00am
Metals post fresh peaks

Metals post fresh peaks

Base metals powered to fresh peaks by the close on the London Metal Exchange (LME) on Tuesday as buying by speculators washed through the market, dealers said.
Published 10 May, 2006 12:00am
European gold rallies to new 25-year peak

European gold rallies to new 25-year peak

Gold rallied to a new 25-year high near $700 an ounce on Tuesday on dollar weakness, while platinum set a new record on strong industrial demand and fund buying.
Published 10 May, 2006 12:00am
US MIDDAY: cocoa futures rise

US MIDDAY: cocoa futures rise

The US benchmark cocoa futures contract rallied 2.7 percent Tuesday to the loftiest price in three months, fuelled by a flagging dollar and limited producer selling from West Africa, traders and brokers said.
Published 10 May, 2006 12:00am
US MIDDAY: coffee edges up

US MIDDAY: coffee edges up

Arabica coffee futures edged up Tuesday, with speculative short covering amid a general rally in commodity markets helping arabica prices recover slightly from four straight sessions of declines, traders said.
Published 10 May, 2006 12:00am
US MIDDAY: sugar firms

US MIDDAY: sugar firms

Raw sugar futures ended higher Tuesday on buying by small speculators although most players were away from their desks due to the annual Sugar Club meetings being held here this week, brokers said.
Published 10 May, 2006 12:00am
US MIDDAY: corn gains

US MIDDAY: corn gains

Corn futures at the Chicago Board of Trade were higher early on Tuesday as US corn plantings lagged trade estimates and support from other surging markets, especially gold and crude oil, traders said.
Published 10 May, 2006 12:00am
US MIDDAY: wheat higher

US MIDDAY: wheat higher

Soft red winter wheat futures on the Chicago Board of Trade were higher early on Tuesday as a drop in weekly US wheat ratings and talk of frost in the US Plains spurred fund buying, traders said.
Published 10 May, 2006 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures climbed to new record levels in early business Tuesday, boosted by the broad-based rally in the precious metals market, but volume was light and will likely remain so ahead of Wednesday's Fed decision on US interest rates, traders said.
Published 10 May, 2006 12:00am
US MIDDAY: soyabeans rally

US MIDDAY: soyabeans rally

Soyabean futures at the Chicago Board of Trade rallied early on Tuesday, gapping higher on the open, supported by a slower-than-expected US planting pace and strength in other commodity markets, traders said.
Published 10 May, 2006 12:00am
US MIDDAY: gold nearly hits $700

US MIDDAY: gold nearly hits $700

Benchmark gold futures surged to a 25-year high just shy of $700 an ounce early on Tuesday, powered by relentless investor buying in the metal, due to geopolitical concerns and expectations of further price gains ahead.
Published 10 May, 2006 12:00am
'No ban imposed on Dars-e-Quran in Peshawar University'

'No ban imposed on Dars-e-Quran in Peshawar University'

Dispelling the news about imposition of ban on Dars-e-Quran by university administration, the University of Peshawar spokesperson Bakht Zaman on Tuesday said the present administration cannot prohibit teaching of the sacred book.
Published 10 May, 2006 12:00am
District, civil courts to be automated: minister

District, civil courts to be automated: minister

Minister for Information Technology Sardar Awais Ahmad Khan Leghari on Tuesday said that districts and civil courts of the country would be automated for the facility of common man.
Published 10 May, 2006 12:00am
The role of CCAO

The role of CCAO

The article 'Role of Chief Cost Accounts Officer (CCAO)' published in the daily 'Business Recorder' of 9.12.05 has come to my notice now. Therefore the response is late. But it is never too late to present the other side of the picture to clarify t
Published 10 May, 2006 12:00am
Pack of cards

Pack of cards

Cards, the playing type, of course, are used by man, since time immemorial, to play games of chance. A pack of cards consists of a deck of 'fifty-two' regular cards and an extra 'two', interestingly called, jokers.
Published 10 May, 2006 12:00am
Americans trying to get leads in Detroit in terror war

Americans trying to get leads in Detroit in terror war

When US soldiers raid a cave in Afghanistan, FBI agent William Kowalski knows to expect a call at his office in Detroit. "When a military raid goes on in Kabul, or in a cave, and they find a computer that contains an address book or names and phone number
Published 10 May, 2006 12:00am
End of textile quota regime: threats and opportunities for us

End of textile quota regime: threats and opportunities for us

Since January 1, 1995, international textiles and clothing trade has been going through fundamental changes under the 10-year transitional programme of WTO's Agreement on Textiles and Clothing (ATC). Before the agreement took effect, a large portion of te
Published 10 May, 2006 12:00am
Revolutionising Railways

Revolutionising Railways

At a largely attended press conference in Karachi on May 7, the Minister for Railways, Sheikh Rashid Ahmed, announced the launch of a train service from Khokhrapar to Mirpurkhas, on daily basis, as an additional travelling facility for the commuters in ea
Published 10 May, 2006 12:00am
Impending water crisis

Impending water crisis

The Director-General of the Meteorological Department, Dr Qamar-uz-Zaman, has issued a dire forecast about scanty rains and a possible drought in the country, especially in Sindh and Balochistan.
Published 10 May, 2006 12:00am
Doctors observe strike in Peshawar

Doctors observe strike in Peshawar

Doctors at the three teaching hospitals here in the provincial metropolis went on strike against the police and attack on one of their colleagues at the Khyber Teaching Hospital (KTH) on Sunday evening.
Published 10 May, 2006 12:00am
Appeal accepted

Appeal accepted

The Lahore High Court (LHC), while accepting the appeal of former federal minister Haji Muhammad Nawaz Khokhar set aside the conviction awarded to him by an accountability court. The court had convicted the accused for five years imprisonment and also dec
Published 10 May, 2006 12:00am
Investigating officer summoned

Investigating officer summoned

The Lahore High Court (LHC) has directed the investigating officer (IO) to appear before the court on May 16, in an appeal filed by the former Chief Minister Punjab Mian Manzoor Ahmed Wattoo.
Published 10 May, 2006 12:00am
Mono train project to be launched soon: Kamal

Mono train project to be launched soon: Kamal

City Nazim Karachi, Syed Mustafa Kamal said on Tuesday that Sohrab Goth-Tower Mono Train project work under mass transit programme would start within one month.
Published 10 May, 2006 12:00am
NAB recovers Rs 2.66 million from Karachi firm owners

NAB recovers Rs 2.66 million from Karachi firm owners

The National Accountability Bureau (NAB) has recovered Rs 2.66 million from the owners of the House of Maxim, Karachi, who deprived the general public of their hard earned money, said a NAB press release.
Published 10 May, 2006 12:00am
NWFP Assembly calls for roads revival in quake zone

NWFP Assembly calls for roads revival in quake zone

NWFP Assembly on Tuesday called for the reconstruction and revival of the road network in the affected districts of the October 8, 2005, earthquake in Hazara Division and transparent distribution of the compensational amount against the affectees to reviv
Published 10 May, 2006 12:00am
Lakhani Bugti tribesmen back home

Lakhani Bugti tribesmen back home

Another caravan of Bugti tribesmen returned back to their native village area Pir Koh. Lakhani Bugti sub-tribe was expelled from their native village Pir Koh and they were compelled to seek refuge in Dera Murad Jamali Jaffarabad and other areas.
Published 10 May, 2006 12:00am
Dry weather to continue till June

Dry weather to continue till June

May and June are expected to be dry, occasionally there could be rain but it would not exceed 5-10 mm, Director Met Dr Ghulam Rasool said on Tuesday. Talking to PTV, he said it could give temporarily relief but would not increase water reservoirs.
Published 10 May, 2006 12:00am
ICMAP seminar on May 13

ICMAP seminar on May 13

Karachi Branch Council (KBC) of the Institute of Cost and Management Accountants of Pakistan (ICMAP) will organise a seminar on "Risk management" at its head office here on May 13. Securities and Exchange Commission of Pakistan (SECP) Chairman Razi-ur-Reh
Published 10 May, 2006 12:00am
Workshops for bankers conclude

Workshops for bankers conclude

A series of five two-day workshops for bankers, organised by he Business Solutions in association with PAF-KIET concluded at the Learning Resource Center, State Bank of Pakistan. Picic Executive Vice-President M. Farid Alam facilitated workshop on the mon
Published 10 May, 2006 12:00am
Drug smuggling bid foiled

Drug smuggling bid foiled

An attempt to smuggle hashish abroad was thwarted when the Drug Enforcement Cell of Customs Preventive Collectorate succeeded in detecting 278 kg charas concealed in fish export consignment being sent to Toronto, Canada by air.
Published 10 May, 2006 12:00am
KCCI body to discuss building materials prices issue

KCCI body to discuss building materials prices issue

The Housing and Construction Industry subcommittee of Karachi Chamber of Commerce and Industry (KCCI) will discuss the prices of building materials in general and cement and steel in particular to formulate its recommendations for consideration by the gov
Published 10 May, 2006 12:00am
Matin made Cisco Systems general manager

Matin made Cisco Systems general manager

The Cisco System has opened its office in Islamabad and appointed Dr Aamir Matin as the Cisco Systems Pakistan general manager. Dr Matin brings with him over 25 years of experience in ICT in a wide variety of Influential roles as CEO, entrepreneur, a poli
Published 10 May, 2006 12:00am
Fidelity Modaraba ratings maintained

Fidelity Modaraba ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the entity ratings of First Fidelity Leasing Modaraba at "A-" (Single A minus) for the long-term and "A2" (A two) for the short-term.
Published 10 May, 2006 12:00am
Fidelity Modaraba ratings maintained

Fidelity Modaraba ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the entity ratings of First Fidelity Leasing Modaraba at "A-" (Single A minus) for the long-term and "A2" (A two) for the short-term.
Published 10 May, 2006 12:00am
'Taxpayers rights protection bill' draft will be sent to ministry

'Taxpayers rights protection bill' draft will be sent to ministry

Justice Munir Ahmed Sheikh, Federal Tax Ombudsman (FTO), informed the business community here on Tuesday that Tax Ombudsman organisation would soon send the 'taxpayers rights protection bill' for consideration of the Law Ministry.
Published 10 May, 2006 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 10 May, 2006 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 10 May, 2006 12:00am
Training course for senior statistical officers

Training course for senior statistical officers

Four-day training course for senior statistical officers on Stata (a latest software) began here on Tuesday at the training center of Federal Bureau of Statistics (FBS).
Published 10 May, 2006 12:00am
Finance ministry to delegate powers to PAOs

Finance ministry to delegate powers to PAOs

Ministry of Finance in a bid to do away with the remnants of British Raj, will delegate financial powers to the Principal Accounts Officers (PAOs) the Public Accounts Committee (PAC) was informed on Tuesday.
Published 10 May, 2006 12:00am
PML not afraid of London plan, says minister

PML not afraid of London plan, says minister

"Two rival political parties will sign a charter of democracy in London on May 14 which is in fact a charter of shelter to plundering and looting to national coffers and both had agreed to cover the sins of each other," said the Federal Minister for Relig
Published 10 May, 2006 12:00am
Hazara jolted

Hazara jolted

An earthquake of mild intensity measuring 4.0 on the International Richter scale was felt at Mansehra, Balakot and Batagram in Hazara Division on late Monday night.
Published 10 May, 2006 12:00am
Water inflows at rim stations improve

Water inflows at rim stations improve

The water inflows at the rim stations of river Indus and its four main tributaries have considerably improved and reached the level of 2,54,663 cusecs on Tuesday, which are sufficient to meet the indents of the provinces for timely sowing of Kharif crop,
Published 10 May, 2006 12:00am
Four cotton-testing laboratories to be set up soon

Four cotton-testing laboratories to be set up soon

Four cotton testing laboratories would be set up shortly with a cost of about Rs 80 million, said Chairman, Pakistan Cotton Ginners Association (PCGA), Muhammad Azam Warraich.
Published 10 May, 2006 12:00am
'Training courses will be mandatory for promotion of officers'

'Training courses will be mandatory for promotion of officers'

Punjab Minister for Management & Professional Development Sardar Hassan Akhtar Moakal has said that training courses will be mandatory for the promotion of grade 17 officers. Similarly, the officers of grade 18 and above would have to attain at least six
Published 10 May, 2006 12:00am
Confiscated items' auction

Confiscated items' auction

Auction of confiscated items would be held at Faisalabad Dry Port (FDP) here on May 13. According to assistant collector auction of the Dry Port, the range of things to be auctioned include sewing machine, cars, shirts, vacuum tube, electronic kettle, hou
Published 10 May, 2006 12:00am
Erra to hold donors meeting

Erra to hold donors meeting

Earthquake Reconstruction and Rehabilitation Authority (Erra) will hold a national donors meeting to seek support for building schools and hospitals in the quake-hit regions.
Published 10 May, 2006 12:00am
Dust storm provides relief to people in South Punjab

Dust storm provides relief to people in South Punjab

A high velocity dust storm on Monday, Tuesday night provided some relief to people from the prevailing heat wave. The mercury level dropped in the city area and other parts of Southern Punjab where at least 33 people have so far died of heat.
Published 10 May, 2006 12:00am
Prime Minister's approval for new irrigation system hailed

Prime Minister's approval for new irrigation system hailed

Pakistan Sugar Mills Association (PSMA) Chairman Chaudhry Zaka Ashraf has welcomed Prime Minister's approval for dripping and sprinkling irrigation system and termed it a delayed, but good decision on the part of government.
Published 10 May, 2006 12:00am
Real representatives can resolve water issue: Ghinwa

Real representatives can resolve water issue: Ghinwa

Pakistan Peoples Party (Shaheed Bhutto Group) Chairperson Ghinwa Bhutto has said 'water issue' could only be resolved by the real public representatives, as military regimes in Pakistan had always raised doubts and conflicts between the provinces on this
Published 10 May, 2006 12:00am
Joint arbitration committee formed

Joint arbitration committee formed

The Lahore Chamber of Commerce and Industry (LCCI) and Mushhad Chamber of Commerce and Industry have formed Joint Arbitration Committee to resolve and settle dispute arising between the business firms, organisations and individuals.
Published 10 May, 2006 12:00am
Bone marrow transplantation at SKMCH&RC soon

Bone marrow transplantation at SKMCH&RC soon

Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) is going to start bone morrow transplantation very soon, and a few patients have already been registered for this purpose.
Published 10 May, 2006 12:00am
'Opposition should get united around Charter of Democracy'

'Opposition should get united around Charter of Democracy'

All the opposition parties and students groups, labourers and industrial workers should unite around the Charter of Democracy to bring back the country on the track of democracy. Mohammad Pervaiz Malik, PML-N Central Secretary Finance, made this appeal wh
Published 10 May, 2006 12:00am
Around 40,000 child beggars in Lahore

Around 40,000 child beggars in Lahore

Around 30,000-40,000 children are indulged in begging on the roads of the Lahore city, while a Mafia is actively involved in this act, which is also forcing the children for begging.
Published 10 May, 2006 12:00am
PBC refuses to attend dinner

PBC refuses to attend dinner

Pakistan Bar Council (PBC) will not attend the dinner to be hosted by the President of Pakistan on June 19, as the bar has never accepted General Musharraf as constitutionally elected head of the state.
Published 10 May, 2006 12:00am
Lawyers' strike today

Lawyers' strike today

The lawyers' community will observe strike in Punjab on Wednesday to protest and mourn the death of Amer Cheema who fell pray to an extra-judicial killing in Germany. The lawyers will not appear before the courts after 11.00am. to express sympathies with
Published 10 May, 2006 12:00am
Notice issued to ETPB chairman

Notice issued to ETPB chairman

A local city magistrate has issued notice to Chairman Evacuee Trust Property Board (ETPB) in a contempt suit filed against him by Chairman Communist Party Irfan Saeed.
Published 10 May, 2006 12:00am
World Bank to provide resources for water management

World Bank to provide resources for water management

With a view to attaining better water management, the local farmers' organisations have been empowered while the discretionary powers of the government officials with regard to recovery of water rate, had been done away with.
Published 10 May, 2006 12:00am
MTUs simplify tax system: CBR

MTUs simplify tax system: CBR

The Central Board of Revenue (CBR) Member Facilitation and Taxpayers Education Habib Fakhruddin has said the overall tax paying system had been simplified with the establishment of Medium Tax payer units (MTUs).
Published 10 May, 2006 12:00am
Amendments in registration ordinance opposed

Amendments in registration ordinance opposed

The All Pakistan Private Schools Management Association (APPSMA) has opposed amendments proposed by the Punjab government in the private schools registration ordinance 1984 and said otherwise they would launch a countrywide protest.
Published 10 May, 2006 12:00am
The Weather

The Weather

The weather report on Tuesday (May 09, 2006) and the forecast for Wednesday (May 10, 2006).
Published 10 May, 2006 12:00am
AJK transport secretary held

AJK transport secretary held

Accountability Bureau of Azad Jammu Kashmir has arrested Khawaja Zia Ahmed, Secretary Transport Authority, AJK government, in alleged land fraud case.
Published 10 May, 2006 12:00am
New York cotton

New York cotton

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

Published 10 May, 2006 12:00am
Pakistan asked to explore investment opportunities in Africa

Pakistan asked to explore investment opportunities in Africa

Pakistan's foreign policy has to be repositioned vis-à-vis African countries without disturbing the focus on the West to harness the available potential to promote Pak-African relations in different fields.
Published 10 May, 2006 12:00am
New York cotton

New York cotton

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

Published 10 May, 2006 12:00am
Quality education must for progress: Maqbool

Quality education must for progress: Maqbool

Governor Punjab, Khalid Maqbool has said that quality education and technological advancement is the only way leading the country towards progress and prosperity. He was addressing as Chancellor at the seventh convocation ceremony of University of Arid Ag
Published 10 May, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am
Small poultry farms may get up to Rs 10 million interest-free loans

Small poultry farms may get up to Rs 10 million interest-free loans

The government has agreed to grant several concessions, including the provision of up to Rs 10 million per head interest-free loan, to small poultry farmers to help revive the bird flu-stricken industry that contributes one percent to GDP annually.
Published 10 May, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am
Online motor registration from June

Online motor registration from June

Sindh Senior Minister for Excise and Taxation Syed Sardar Ahmed on Tuesday said that private sector is being involved in Motor Registration in persuasion to the policy of President Pervez Musharraf.
Published 10 May, 2006 12:00am
Asia banking conferences from May 13

Asia banking conferences from May 13

The first in the series of Dawn Asia Finance Conferences titled Asian Banking - A paradigm shift will be held for two days starting May 13 at the Sheraton Hotel, while the concluding session will be held at the same venue on Sunday, May 14, 2006.
Published 10 May, 2006 12:00am
Food expo offers vast business opportunities: Mustafa

Food expo offers vast business opportunities: Mustafa

The city will be developed in an advanced commercial hub with enormous facilities for progress and prosperity. Syed Mustafa Kamal, City Nazim, City District Government Karachi (CDGK) said this while speaking at inaugural ceremony of third Plastic Printing
Published 10 May, 2006 12:00am
Sindh chief minister rules out interim government

Sindh chief minister rules out interim government

The Sindh Chief Minister, Dr Arbab Ghulam Rahim has ruled out the appointment of an interim government and said that the present government will complete its tenure. Talking to reporters at a reception given to him by Nuzhat Pathan MPA, who has recently j
Published 10 May, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (May 09, 2006) and for Wednesday (May 10, 2006).
Published 10 May, 2006 12:00am
Opposition files two motions for debate in Senate

Opposition files two motions for debate in Senate

The opposition on Tuesday filed two separate adjournment motions with the Senate Secretariat, seeking debate in on 'controversial sale' of Pakistan Steel Mills, and kitchen items uncontrolled price spiral.
Published 10 May, 2006 12:00am
Cement output falls 18 percent in April

Cement output falls 18 percent in April

The cement output fell by 18 percent to 1.5 million tonnes in April from the March level, but output for the 10 months through April was 11 percent higher than a year ago, spokesman of the All Pakistan Cement Manufacturers Association (APCMA) Shahzad Ahme
Published 10 May, 2006 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 09, 2006).

Published 10 May, 2006 12:00am