News Archives for Print - 2006-05-13

Print - 2006-05-13

All in a day's work! - Taking the right Decision!

Life sounds good!

Published 13 May, 2006 12:00am

Selling in cement scrips clips early gains

Selling pressure in cement stocks and profit hunting in banking scrips forced the stock market here on Friday to close on a negative note, wiping the gains of initial trading. The KSE-100 Index closed at 11511 level, down 19.83 points from previous closin

Published 13 May, 2006 12:00am

CAPITAL CULTURAL SCENE: 'The Travelling Film South Asia 2006'

There is no let up in heat and the Margalla hills are on fire. From the roof-top, one can see Islamabad enveloped in a cloud of smoke.

Published 13 May, 2006 12:00am

KESC may get Rs 1 billion subsidy to keep tariff unchanged

The federal government is likely to extend Rs 1 billion subsidy to Karachi Electric Supply Corporation (KESC) for keeping the power tariff at the present level, official sources told Business Recorder.

Published 13 May, 2006 12:00am

Immortal notes of Naushad Ali

It is a reality that man is mortal, but it is also a hard fact that his achievements are immortal. There are hundreds of people, who are still alive in the memories of people through their achievements.

Published 13 May, 2006 12:00am

KESC may get Rs 1 billion subsidy to keep tariff unchanged

Published 13 May, 2006 12:00am

Darwinism Refuted

Any person who seeks an answer to the question of how living things, including himself, came into existence will encounter two distinct explanations. The first is "creation," the idea that all living things came into existence as a consequence of an intel

Published 13 May, 2006 12:00am

KESC may get Rs 1 billion subsidy to keep tariff unchanged

Published 13 May, 2006 12:00am

Elevation of women's status in society

In the rapidly changing business, management and economic world, we require a thorough understanding of ethics and leadership. Though ethics cannot be specifically defined; it is integrated in our professional life. When we think of leaders or leadership,

Published 13 May, 2006 12:00am

July-April trade deficit touches record high

Pakistan has racked up a record high foreign trade deficit of $9.427 billion for 10 months of the current fiscal year, which is about 8.6 percent of the country''s gross domestic product (GDP), and a steep increase over 4.86 percent of GDP just a year ago

Published 13 May, 2006 12:00am

Message from President, Federation of Pakistan Chambers of Commerce & Industry

It gives me immense pleasure to know that FPCCI, Standing Committee on Women Entrepreneurs is holding Int'l Conference on Women Leadership and Award Ceremony to be held on 12-13 May 2006 to highlight & showcase their achievements to million of peoples who

Published 13 May, 2006 12:00am

July-April trade deficit touches record high

Pakistan has racked up a record high foreign trade deficit of $9.427 billion for 10 months of the current fiscal year, which is about 8.6 percent of the country's gross domestic product (GDP), and a steep increase over 4.86 percent of GDP just a year ago.

Published 13 May, 2006 12:00am

Message from City Naib Nazim, City District Government Karachi

It is a matter of great pleasure for me that M/s Triple-E is organising an International Seminar on Women Leadership and on this occasion Awards Ceremony will also be held in collaboration with the FPCCI Standing Committee of women entrepreneurs to confer

Published 13 May, 2006 12:00am

July-April trade deficit touches record high

Published 13 May, 2006 12:00am

Bad weather hits Ukraine winter crop

Ukraine lost 6.0 percent of its winter crop area to severe frosts at the start of the year and drought at the end of 2005, the State Statistics Committee said on Friday. Ukraine's farms were likely to harvest 4,941,700 hectares of winter crops in 2006, 16

Published 13 May, 2006 12:00am

FTA with Malaysia shortly: Shaukat

Prime Minister Shaukat Aziz and his Malaysian counterpart Abdullah Ahmed Badawi met here on Friday on the sidelines of the Development Eight (D-8) Summit to exchange views on bilateral and regional issues and agreed to expedite ongoing negotiations for an

Published 13 May, 2006 12:00am

South African maize prices rise on crop worries

South African maize prices surged to fresh 2006 highs on Friday as worries mount about the impact of wet and cold weather on this season's harvest.

Published 13 May, 2006 12:00am

FTA with Malaysia shortly: Shaukat

Published 13 May, 2006 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 124,060 tonnes of cargo including 99,247 tonnes import and 24,813 tonnes export cargo including 4,631 containers during last 24 hours ending at 0700 hours on Friday.

Published 13 May, 2006 12:00am

FTA with Malaysia shortly: Shaukat

Published 13 May, 2006 12:00am

Bids for HRW wheat unchanged

Spot basis bids for hard red winter wheat in the US Plains were unchanged on Friday with movement sluggish amid continued expectations of a small new winter wheat crop.

Published 13 May, 2006 12:00am

ANC invites Musharraf, Manmohan, Hayat to Intra-Kashmir moot

Awami National Conference (ANC) has invited Pakistani President Pervez Musharraf, Indian Prime Minister Manmohan Singh, and AJK Prime Minister Sardar Sikander Hayat Khan to participate in a three-day Intra-Kashmir Conference in occupied Srinagar next mont

Published 13 May, 2006 12:00am

FOB Gulf corn and soya slide after CBOT rally; wheat firm

US FOB Gulf corn and soyabean basis offers fell on Thursday after a CBOT rally pressured prices in the interior barge market, while wheat was steady to higher, traders said.

Published 13 May, 2006 12:00am

KSE to introduce UIN from August

The 'Unique Identification Number' (UIN), aimed to enhance transparency and to identify trade done by each investor, is expected to start from August 1.

Published 13 May, 2006 12:00am

Japan buys Thai rice

Japan's Agriculture Ministry bought 10,000 tonnes of rice from Thailand at an ordinary import tender on Friday, a ministry official said. The average buying price was 37,413 yen ($339.3) per tonne. Shipment must be made from June 5 to August 4.

Published 13 May, 2006 12:00am

Nigerian oil pipeline blast kills 200

Up to 200 people were burnt to death on Friday when an oil pipeline exploded on the outskirts of Lagos after thieves tapped into it to steal fuel. The huge blast left about 100 blackened, unrecognisable corpses strewn across a beach where young men were s

Published 13 May, 2006 12:00am

China sees big wheat harvest, but cold April hits rice

China's early rice crop in major central growing areas was hit by lower-than-usual temperatures in April and heavy rains early this month may further damage the crop, industry officials said on Friday.

Published 13 May, 2006 12:00am

Nigerian oil pipeline blast kills 200

Published 13 May, 2006 12:00am

Australian wheat shipments to India delayed

Australian wheat shipments to India, part of a 500,000 tonne contract, have been delayed over quality concerns, Indian officials and traders said on Friday.

Published 13 May, 2006 12:00am

Gold breaches Rs 14,000 level

The 24-carat gold prices hit 25-year high to close at $729 per ounce in the international market and reached Rs 14,400 per 10-gram in the domestic market on Friday on the back of rising international gold prices.

Published 13 May, 2006 12:00am

US Midwest bids for corn, soyabean fall on rivers

Spot basis bids for corn and soyabeans fell at river locations around the US Midwest on Friday due to weakening export demand, grain dealers said.

Published 13 May, 2006 12:00am

Gold breaches Rs 14,000 level

Published 13 May, 2006 12:00am

Corn ends near two-week high

Corn futures at the Chicago Board of Trade rallied to their highest level in nearly 2 weeks on Thursday as investment funds continued to buy commodities amid a global gold market that remains on fire, traders said.

Published 13 May, 2006 12:00am

Gold breaches Rs 14,000 level

Published 13 May, 2006 12:00am

CBOT wheat futures hit two-month highs

Wheat futures on the Chicago Board of Trade hit two-month highs on Thursday, buoyed by spill-over strength from the raging gold and crude oil markets, traders said.

Published 13 May, 2006 12:00am

Business improves despite raise in cotton spot rate by Rs 25

Spot rate was higher on the cotton market on Friday on hovering fears about the size of production for the next season due to water shortage, dealers said. The official spot rate was higher at Rs 2450, without upcountry expenses.

Published 13 May, 2006 12:00am

Turkish gold jewellery exports fall

Gold jewellery exports from Turkey, the world's No 2 exporter, fell by just over a quarter in the first four months of 2006, the Turkish Association of Jewellers (TAJ) said on Friday.

Published 13 May, 2006 12:00am

New York cocoa firmer on dollar weakness

US cocoa futures finished on positive ground in range-bound trading Thursday, finding some support from currency-related buying amid an eroding dollar, market sources said.

Published 13 May, 2006 12:00am

New York coffee slides to five-month low

Benchmark arabica coffee futures tumbled more than 4 percent to a five-month low on Thursday, depressed by a combination of fund liquidation, weak technical signals and limited roaster buying, traders and analysts said.

Published 13 May, 2006 12:00am

MGE wheat up as funds keep buying commodities

Spring wheat futures at the Minneapolis Grain Exchange closed higher on Thursday as investment funds keep buying commodities including gold, crude oil and wheat, traders said.

Published 13 May, 2006 12:00am

P&G sees big market for stomach-friendly coffee

Procter & Gamble Co has launched a new coffee that promises to be easy on the tummy for the millions of Americans who suffer stomach irritation after drinking brew, a company vice president said.

Published 13 May, 2006 12:00am

New York copper ends off new highs above $4

COMEX copper futures settled below new all-time records above $4 a lb on Thursday amid a broad-based buying frenzy that triggered a halt in trade after prices spiked to their daily limit, sources said.

Published 13 May, 2006 12:00am

Gold and silver settle at multiyear highs in New York

US precious metals shot to fresh highs on Thursday, carried by another wave of investment buying, with gold and silver reaching their strongest levels in 25 years and platinum scoring a lifetime peak.

Published 13 May, 2006 12:00am

Gold drifts to adjust recent gains in Tokyo

Gold prices edged down on Friday after reaching a 26-year high the previous day, as traders adjusted positions ahead of the weekend and as Tokyo futures prices came under pressure from a high yen.

Published 13 May, 2006 12:00am

Southeast Asian markets closed

Most of the commercial centres in Malaysia, Singapore and Thailand were closed on Friday for a holiday.

Published 13 May, 2006 12:00am

Asian oil futures

Crude oil futures on the Tokyo Commodity Exchange (TOCOM) fell on Friday on a stronger yen against the dollar, while losses in gasoline and kerosene prices were limited by tight domestic supplies, traders said.

Published 13 May, 2006 12:00am

Oil edges down but gasoline, Nigeria fears persist

Oil retreated on Friday after surging more than $3 in the past three days on concerns over gasoline supply in the United States ahead of the driving season and after new threats against foreign workers in Nigeria.

Published 13 May, 2006 12:00am

US soyameal exports benefit from Brazilian woes

US soyameal is seeing steady export demand at a time when interest usually shifts to South America, as currency woes blunt Brazil's competitive edge, US soyameal traders said on Thursday.

Published 13 May, 2006 12:00am

New York sugar closes at week high

Raw sugar futures banked on buying by commodity funds and speculators to finish Thursday at a one-week high and follow-through interest may nudge the market up Friday, brokers said.

Published 13 May, 2006 12:00am

Soya beans, soya oil end strong

The Chicago Board of Trade soyabean market climbed to a three-month top on Thursday, taking its cue from the hot metals market as gold soared to a 25-year high, traders said.

Published 13 May, 2006 12:00am

China corn prices soar

China's domestic corn prices jumped this week due to a shortage in a northern province, while a container load of US grain is stranded in Hong Kong awaiting a Beijing import permit to be issued for its buyer.

Published 13 May, 2006 12:00am

CBOT rice firm

Chicago Board of Trade rough rice futures ended higher on Thursday on follow-through speculative buying, with buy-stops hit near the day's high, traders said. "We've started to move out of the range we've been in ... it brought in new speculative buying,"

Published 13 May, 2006 12:00am

Ghana's Cocobod close to Cargill deal

Ghana's cocoa industry regulator Cocobod is close to sealing a deal with US agribusiness giant Cargill to build a cocoa processing facility in the world's second-biggest producer, the Cocobod chief said.

Published 13 May, 2006 12:00am

Lockheed Martin to build Vietnam's first satellite

US defence giant Lockheed Martin signed Friday the contract to build Vietnam's first satellite, in the latest victory for American businesses in the communist nation.

Published 13 May, 2006 12:00am

190 nations seek to bridge policy gaps on climate

About 190 nations meet in Germany next week to try to bridge vast policy gaps between the United States and its main allies over how to combat climate change amid growing evidence that the world is warming.

Published 13 May, 2006 12:00am

Earthquake shakes Indian-Myanmar border

An earthquake measuring 5.5 on the Richter scale has rocked the border between India and neighbouring Myanmar, India's meteorological department said Friday.

Published 13 May, 2006 12:00am

Rights group condemns assault on Afghan cameraman

International media rights watchdog Reporters Without Borders condemned Friday an assault on an Afghan television cameraman by legislators during a scuffle in parliament last week.

Published 13 May, 2006 12:00am

Energy trade ties dominate EU-Latin America summit

Bolivia moved to reassure foreign investors on Friday, a day after its President Evo Morales set off alarm bells by saying foreign firms would not be compensated for nationalised oil and gas resources.

Published 13 May, 2006 12:00am

Saddam novel published in Japan

A novel penned by Saddam Hussein in the run-up to the 2003 invasion that ended his dictatorship will be released for the first time abroad in a Japanese translation, the publisher said Friday.

Published 13 May, 2006 12:00am

US urges Syria to stop pretending

US Ambassador John Bolton on Friday urged Syria to stop pretending that Lebanon is now an independent country and instead to establish diplomatic ties with Beirut and demarcate their common border.

Published 13 May, 2006 12:00am

Britain published more new books in 2005 than US

As British lore notes, "Where America leads, Britain follows", but the little island nation appears to have bucked such assumptions last year in the number of new books published, according to statistics released by a book tracking firm.

Published 13 May, 2006 12:00am

Muslims must oppose terror: Indonesia

Indonesian President Susilo Bambang Yudhoyono told an Islamic congregation on Friday that Muslim nations should oppose terrorism and catch up with progress in the rest of the world.

Published 13 May, 2006 12:00am

Putin hails Uzbek leader on killings anniversary

Russian President Vladimir Putin told Uzbekistan's leader Islam Karimov on Friday he looked forward to blossoming ties, nearly a year to the day after Uzbek troops earned international censure by firing on civilians.

Published 13 May, 2006 12:00am

11 missing as tropical storm hits Philippines

Six people died and with five others were missing after a small ferry capsized as tropical storm Chanchu slammed into the central Philippines on Friday, the coast guard reported.

Published 13 May, 2006 12:00am

Four killed, dozens wounded in Ethiopia blasts

At least four people were killed and 41 injured on Friday as a wave of apparently co-ordinated blasts rocked the Ethiopian capital Addis Ababa, spewing blood and shattered glass.

Published 13 May, 2006 12:00am

Zimbabwe's inflation rate crosses 1,000 percent threshold

Zimbabwe said on Friday its inflation rate had crossed the 1,000-percent threshold and was currently at 1,042.9 percent, one of the highest in the world.

Published 13 May, 2006 12:00am

EU to launch deeper financial dialogue with China

The European Union will launch closer ties with China next week on accountancy standards, copyright and public procurement in the latest sign of China's growing financial clout in the world.

Published 13 May, 2006 12:00am

High oil price boosts German April inflation

German annual inflation quickened for the first time in seven months in April, boosted by high energy costs, and a senior economic adviser to the government said the risks of high oil prices were being underestimated.

Published 13 May, 2006 12:00am

India and China trade could reach $100 billion by 2015

Bilateral trade between India and China could reach 100 billion dollars in less than 10 years, a Chinese trade official said in a statement released Friday.

Published 13 May, 2006 12:00am

Global farm talks 'going backwards': US official

Global talks to slash agricultural subsidies and duties are "going backwards" after a group of developing countries insisted on protecting their farm markets, a senior US trade official said on Thursday.

Published 13 May, 2006 12:00am

US consumer mood buckles under high gas prices

Consumer optimism in the United States buckled in May to its lowest since Hurricane Katrina, a survey showed on Friday, hit by $3 per gallon gasoline, rising mortgage interest rates and a souring political climate.

Published 13 May, 2006 12:00am

Mittal poised to launch bid; Arcelor boosts defence

Mittal Steel expects to launch a long-awaited offer for Arcelor within days, it said on Friday, even as Arcelor unveiled its latest attempt to thwart a tie-up of the world's biggest steel makers.

Published 13 May, 2006 12:00am

US Congress passes $70 billion tax package

The US Congress passed a $70 billion tax cut package on Thursday that extends lower rates for investors, giving President George W. Bush a badly needed victory at a time of slumping popularity.

Published 13 May, 2006 12:00am

Costly oil slows demand growth, eases Opec load: IEA

Record oil prices are braking growth in fuel use in the United States, the world's biggest consumer, and easing Opec's supply task this year, the International Energy Agency said on Friday.

Published 13 May, 2006 12:00am

Russian capital movement

Russia will lift restrictions on capital movements into and out of the country from July 1, Finance Minister Alexei Kudrin said Friday. "On July 1, Russia will lift restrictions on imports and exports of capital that have been in place since the default o

Published 13 May, 2006 12:00am

Chinese imports slow, buoying April trade surplus

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Oct 4	277.65
USD PKR Interbank Buying / Oct 4	277.45
USD to Japanese Yen / Oct 5	148.70
USD to Swiss Franc / Oct 5	0.86
Pound Sterling to USD / Oct 5	1.31
Euro to USD / Oct 5	1.10

Stock	Volume
S&P 500 / Oct 5	5,751.07
India Sensex / Oct 5	81,688.45
Tokyo Nikkei / Oct 5	38,635.62
Nasdaq / Oct 5	18,137.85
Hang Seng / Oct 5	22,736.87
FTSE 100 / Oct 5	8,280.63
Dow Jones / Oct 5	42,352.75
Germany DAX 30 / Oct 5	19,120.93

Item	Value
Crude Oil USD/Barrel / Oct 5	74.38
Karachi Cotton PKR/37.32 KG / Oct 5	18,285
Gold 10 Grams PKR / Oct 5	237,401.20
Gold Spot USD/Ounce / Oct 5	2,653.60
Cotton US¢/pound / Oct 5	73.27
Petrol/Litre / Oct 6	247.03

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Oct 6 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Oct 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Oct 6 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 6 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Oct 6 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Oct 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Oct 6 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Oct 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Oct 6 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Oct 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Oct 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Oct 6 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Oct 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Oct 6 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Oct 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Oct 6 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Oct 6 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Oct 6 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Oct 6 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Oct 6 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Oct 6 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Oct 6 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Oct 6 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Oct 6 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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