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Print - 2006-05-18
THE RUPEE: dollar turns easy in interbank market

THE RUPEE: dollar turns easy in interbank market

Dollar's continued weakness mirrored in the interbank market on Wednesday as the rupee recovered 16 paisa for buying at 59.90 and it gained seven paisa on the selling counter at 60.00 on easy supply, dealers said.
Published 18 May, 2006 12:00am
DGI told to carry out audit to ascertain tax evasion amount

DGI told to carry out audit to ascertain tax evasion amount

The main accused of the multi-million rupees GST scam, Raja Zaraat, was sent to jail on Tuesday by the Directorate General, Intelligence and Investigation, (Customs and Excise). He was sent to jail on judicial remand after completion of 14 days investigat
Published 18 May, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (May 17, 2006).

Published 18 May, 2006 12:00am
'Corporate governance knowledge must for bourses board directors'

'Corporate governance knowledge must for bourses board directors'

The board of directors of the stock exchanges should have full knowledge of the corporate governance, ensuring that the listed companies must meet the laid down requirements. This issue came to light during a workshop on corporate governance organised by
Published 18 May, 2006 12:00am
World Telecom Day celebrated

World Telecom Day celebrated

The World Telecommunication Day was celebrated in the country with an aim to spread telecom facilities throughout the country and elaborate efforts to ensure cyber security around the globe.
Published 18 May, 2006 12:00am
EPB chief hints at surpassing export target

EPB chief hints at surpassing export target

Export Promotion Bureau (EPB) Chairman Tariq Ikram has said that $17 billion export target set for the current fiscal year would not only be achieved but it may be surpassed.
Published 18 May, 2006 12:00am
Warehousing surcharge waived

Warehousing surcharge waived

The government has waived 2 percent penal surcharge on the goods to be removed from the warehouses from May 17 to June 4. According to a notification issued on Tuesday, the Board has also allowed that overstayed imported goods could be kept in the warehou
Published 18 May, 2006 12:00am
LCCI chief for completing expo centre by December 31

LCCI chief for completing expo centre by December 31

Expo Centre should be completed by December 31 next as due to fast changing regional economic scenario, the Lahore City is fast turning into hub of economic activities and the investors from all over the world, particularly from the European countries, ar
Published 18 May, 2006 12:00am
India frees six Pakistani prisoners

India frees six Pakistani prisoners

India on Wednesday freed six Pakistani prisoners, including four children, as part of goodwill gesture, TV channels reported. The freed prisoners were handed over to Pakistani authorities at Wahga border, who were later brought to Lahore.
Published 18 May, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 May, 2006 12:00am
Objectives achieved in Greece visit: Prime Minister

Objectives achieved in Greece visit: Prime Minister

Prime Minister Shaukat Aziz said on Wednesday that his visit to Greece has achieved objectives and has helped change perceptions about Pakistan with a mutual desire to expand ties in all areas.
Published 18 May, 2006 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 May, 2006 12:00am
Girl, two policemen killed in Sui attacks

Girl, two policemen killed in Sui attacks

A girl was killed on Wednesday when suspected insurgents blew up a gas pipeline in Sui, while two policemen were shot dead in a separate attack. The seven-year-old girl was on her way to school with her mother when a bomb exploded near the pipeline in the
Published 18 May, 2006 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 18 May, 2006 12:00am
Girl, two policemen killed in Sui attacks

Girl, two policemen killed in Sui attacks

A girl was killed on Wednesday when suspected insurgents blew up a gas pipeline in Sui, while two policemen were shot dead in a separate attack. The seven-year-old girl was on her way to school with her mother when a bomb exploded near the pipeline in the
Published 18 May, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (May 17, 2006).

Published 18 May, 2006 12:00am
Warehousing surcharge waived

Warehousing surcharge waived

The government has waived 2 percent penal surcharge on the goods to be removed from the warehouses from May 17 to June 4. According to a notification issued on Tuesday, the Board has also allowed that overstayed imported goods could be kept in the warehou
Published 18 May, 2006 12:00am
Warehousing surcharge waived

Warehousing surcharge waived

The government has waived 2 percent penal surcharge on the goods to be removed from the warehouses from May 17 to June 4. According to a notification issued on Tuesday, the Board has also allowed that overstayed imported goods could be kept in the warehou
Published 18 May, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 18 May, 2006 12:00am
SBP to float Rs 10 billion investment bonds today

SBP to float Rs 10 billion investment bonds today

Pakistan will launch Rs 10 billion investment bonds this week after nearly two years. The State Bank of Pakistan (SBP) will auction on Thursday a Rs 5 billion ($83.3 million) worth of three-year bonds, a Rs 3 billion worth of five-year issue, and a Rs 2 b
Published 18 May, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 49,611 tonnes of cargo including 31,889 tonnes import, 17,722 tonnes export cargo and 2,985 containers during last 24 hours ending at 0700 hours on Wednesday.
Published 18 May, 2006 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Wednesday and the premium to fuel oil cargo values gained further, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $340-$342 a tonne, up $4 from Tuesday's Asian close, with the differential to fuel
Published 18 May, 2006 12:00am
Asian currencies: rupiah leads rally, Philippine peso lags

Asian currencies: rupiah leads rally, Philippine peso lags

The Indonesian rupiah was in the lead as Asian currencies recovered on Wednesday from sharp losses suffered in the past two sessions as regional stock markets rallied and the dollar fell broadly after weak US data.
Published 18 May, 2006 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 69.20/69.28 (previous 69.24/69.30). Call Money Rates: 16.00-28.00 percent (previous 10.00-31.00 percent).
Published 18 May, 2006 12:00am
Hong Kong dollar regains some losses

Hong Kong dollar regains some losses

The Hong Kong dollar recovered some ground on Wednesday afternoon as a robust performance by the local stock market indicated still solid investor interest in Hong Kong assets.
Published 18 May, 2006 12:00am
Dollar falls as data hint at softer US growth

Dollar falls as data hint at softer US growth

The dollar weakened on Tuesday after data on US housing and producer inflation suggested US interest rates may not need to rise much further after two years of non-stop increases.
Published 18 May, 2006 12:00am
Dollar near eight-month low versus yen

Dollar near eight-month low versus yen

The dollar slid towards an eight-month low against the yen on Wednesday as investors awaited US consumer price data for clues about whether the Federal Reserve will soon pause raising interest rates.
Published 18 May, 2006 12:00am
Chinese yuan ends stronger against dollar

Chinese yuan ends stronger against dollar

China's yuan strengthened slightly on Wednesday versus the dollar, in line with a weaker US currency, but failed to break through the psychologically important 8.0 barrier briefly breached on Monday.
Published 18 May, 2006 12:00am
Swiss franc hovers near five-month high

Swiss franc hovers near five-month high

The Swiss franc hovered just below a five month high against the European single currency and was off a one-year high against the dollar in early trade on Wednesday as safe-haven buying fizzled out.
Published 18 May, 2006 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian share prices fell 0.16 percent on Wednesday as an early rally fizzled out in late trade due to a lack of support from cautious investors, dealers said.
Published 18 May, 2006 12:00am
Nikkei snaps six-day fall on bargain-hunting

Nikkei snaps six-day fall on bargain-hunting

The Nikkei average gained 0.92 percent on Wednesday, snapping a six-day losing streak as waning concern about a strong yen encouraged investors to buy recently battered issues such as Tokyo Electron Ltd.
Published 18 May, 2006 12:00am
Thai shares make little gains

Thai shares make little gains

Thai share prices closed 0.06 percent higher on Wednesday in line with a rebound on other regional markets amid worries over possible interest rate increases in the United States, dealers said.
Published 18 May, 2006 12:00am
Philippines shares surge due to budget surplus

Philippines shares surge due to budget surplus

Philippines share prices closed 0.14 percent higher on Wednesday, supported by a sharp rise in the budget surplus for April which bolstered confidence in the country's fiscal position, dealers said.
Published 18 May, 2006 12:00am
Jakarta shares close sharply firmer

Jakarta shares close sharply firmer

Jakarta share prices closed up 2.41 percent on Wednesday as the rupiah's recovery sparked bargain-hunting in banks and blue chips after the market's fall in the last three sessions, dealers said.
Published 18 May, 2006 12:00am
US Treasuries up on signs of slower economic growth

US Treasuries up on signs of slower economic growth

US Treasuries advanced for the second straight day on Tuesday, aided by signs that US inflation was subdued and that economic growth was slowing in the second quarter from its brisk first-quarter pace.
Published 18 May, 2006 12:00am
US Treasuries up on signs of slower economic growth

US Treasuries up on signs of slower economic growth

US Treasuries advanced for the second straight day on Tuesday, aided by signs that US inflation was subdued and that economic growth was slowing in the second quarter from its brisk first-quarter pace.
Published 18 May, 2006 12:00am
Indian shares climb

Indian shares climb

Indian share prices closed up nearly three percent on Wednesday, extending gains for a second day in line with a recovery by key Asian markets, as infrastructure stocks posted a strong performance, dealers said.
Published 18 May, 2006 12:00am
US stocks sag as retailers' sales disappoint

US stocks sag as retailers' sales disappoint

US stocks fell on Tuesday as lackluster results from retailers such as Home Depot Inc overshadowed government data on inflation that suggested the Federal Reserve could stop raising interest rates.
Published 18 May, 2006 12:00am
Hong Kong shares advance on banks, resources

Hong Kong shares advance on banks, resources

Hong Kong stocks tracked Asian markets higher on Wednesday as resource shares like Zijin Mining Co Ltd rose with commodity prices and easing interest rate worries buoyed HSBC and other local lenders.
Published 18 May, 2006 12:00am
Chinese shares rally

Chinese shares rally

Chinese shares rebounded on Wednesday, paring a steep decline in the previous session, as investors bought into index heavyweights such as Yangtze Power.
Published 18 May, 2006 12:00am
Taiwan stocks slightly jump

Taiwan stocks slightly jump

Taiwan stocks rose 0.66 percent on Wednesday, the first advance in four sessions, as gains in microchip heavyweights like Taiwan Semiconductor Manufacturing Co (TSMC) led a rebound from a three-week low.
Published 18 May, 2006 12:00am
Applied Materials profit up

Applied Materials profit up

Applied Materials Inc posted a higher quarterly profit on Tuesday as the world's top supplier of equipment for making microchips saw revenue jump by one-fifth due to growing demand for consumer electronics such as digital music players and cell phones.
Published 18 May, 2006 12:00am
Applied Materials profit up

Applied Materials profit up

Applied Materials Inc posted a higher quarterly profit on Tuesday as the world's top supplier of equipment for making microchips saw revenue jump by one-fifth due to growing demand for consumer electronics such as digital music players and cell phones.
Published 18 May, 2006 12:00am
Creditors pick lead managers for $2 billion Hynix deal

Creditors pick lead managers for $2 billion Hynix deal

Creditors of South Korea's Hynix Semiconductor Inc have named seven lead managers for a $2 billion deal to sell a stake in the world's second-biggest memory chip maker, a main creditor said on Wednesday.
Published 18 May, 2006 12:00am
Agfa first quarter profit up

Agfa first quarter profit up

Belgium's Agfa-Gevaert's operating profit improved as expected in the first quarter, but the imaging technology company warned that surging silver and aluminium prices would affect future results.
Published 18 May, 2006 12:00am
Agfa first quarter profit up

Agfa first quarter profit up

Belgium's Agfa-Gevaert's operating profit improved as expected in the first quarter, but the imaging technology company warned that surging silver and aluminium prices would affect future results.
Published 18 May, 2006 12:00am
Egyptian banks neglect private sector: minister

Egyptian banks neglect private sector: minister

Egyptian banks have reduced their lending to the private sector despite economic growth and the expansion of the private sector as a proportion of the economy, Investment Minister Mahmoud Mohieldin said on Tuesday.
Published 18 May, 2006 12:00am
Global imbalances: Snow calls for more help from overseas

Global imbalances: Snow calls for more help from overseas

US Treasury Secretary John Snow called on Wednesday for more help from overseas to unwind global imbalances, saying the best the United States could do was to keep its economy strong and reduce budget deficits.
Published 18 May, 2006 12:00am
Microsoft unveils new search tools

Microsoft unveils new search tools

Microsoft Corp will unveil new tools on Wednesday that make it easier for office workers to share and locate information as the company seeks to fend off rivals such as Google Inc in the enterprise software search market.
Published 18 May, 2006 12:00am
Oil and gas prices boost eurozone April inflation

Oil and gas prices boost eurozone April inflation

Prices of fuels for transport, gas and heating oil boosted eurozone inflation in April to an expected 2.4 percent year-on-year from 2.2 percent in March, the European Union's statistics agency said on Wednesday.
Published 18 May, 2006 12:00am
EU raids gas and electricity firms

EU raids gas and electricity firms

The European Union's top regulator has cranked up its campaign to open the bloc's energy markets, raiding gas firms in Germany, France, Italy, Belgium and Austria for suspected violations of antitrust rules.
Published 18 May, 2006 12:00am
Bank of England split three ways, boosts rate rise bets

Bank of England split three ways, boosts rate rise bets

The Bank of England's Monetary Policy Committee was split three ways on its decision to hold interest rates this month, with one member's vote for a rise bolstering expectations the next move will be up.
Published 18 May, 2006 12:00am
Hewlett-Packard consolidating data centres

Hewlett-Packard consolidating data centres

Hewlett-Packard Co on Wednesday said it would consolidate 85 data centres around the world into six large facilities in the United States, hoping to save $1 billion annually in coming years.
Published 18 May, 2006 12:00am
Tokyo rubber surges

Tokyo rubber surges

Tokyo rubber futures jumped nearly 3 percent by the daily limit to a new 22-year high on Wednesday as lingering tight supply situations prompted heavy bargain-hunting following falls the previous day.
Published 18 May, 2006 12:00am
CBOT rice falls

CBOT rice falls

Chicago Board of Trade rough rice futures closed weaker on Tuesday, setting back from Monday's rally to a three-month high, traders said.
Published 18 May, 2006 12:00am
Soya dips on follow-through sales

Soya dips on follow-through sales

Soyabean futures at the Chicago Board of Trade closed lower on Tuesday on follow-through technical selling from Monday amid outlooks for US soyabean supplies to mount in the coming year, traders said.
Published 18 May, 2006 12:00am
New York sugar down as trade buying pares losses

New York sugar down as trade buying pares losses

Raw sugar futures finished lower on Tuesday on speculative fund sales but trade and consumer buying cut short their losses which may allow the market to consolidate in the days ahead, brokers said.
Published 18 May, 2006 12:00am
Vietnamese rice firm

Vietnamese rice firm

Export prices for rice in Vietnam extended gains in the past week on robust demand from the Philippines, the Middle East and Africa, traders said on Wednesday.
Published 18 May, 2006 12:00am
Copper higher in Asian market

Copper higher in Asian market

Copper prices rose on Wednesday in choppy trade as investors took the opportunity to buy after recent declines, supported by a tight market.
Published 18 May, 2006 12:00am
Indonesian palm oil

Indonesian palm oil

Indonesia failed to sell a total of 4,500 tonnes of palm oil in government and private tenders on Wednesday due to low bids. Indonesia's biggest listed plantation firm, PT Astra Agro Lester TDK, failed to sell 2,500 tonnes of palm oil in a tender.
Published 18 May, 2006 12:00am
Oil edges up towards $70 ahead of US stock data

Oil edges up towards $70 ahead of US stock data

Oil prices edged higher for a second day towards $70 a barrel on Wednesday, halting recent sharp losses after US data showing milder-than-expected inflation helped soothe worries over high prices denting demand.
Published 18 May, 2006 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin ended on Wednesday up 0.2 percent as sellers held back after the base metal hit a four-week low the previous day.
Published 18 May, 2006 12:00am
Ukraine raw sunoil

Ukraine raw sunoil

Ukraine, among the world's major sunflower oil producers, cut raw sunoil output 4.8 percent to 173,000 tonnes in April from 181,000 tonnes in March, the State Statistics Committee said on Wednesday.
Published 18 May, 2006 12:00am
Gold regains $700, up 2.5 percent

Gold regains $700, up 2.5 percent

Gold reversed losses and rose more than 2 percent to above $700 an ounce on Wednesday as Japanese futures rebounded after falling by the 60 yen daily limit the previous day.
Published 18 May, 2006 12:00am
Tokyo platinum rallies on bargain hunting

Tokyo platinum rallies on bargain hunting

Tokyo platinum futures bounced back strongly on Wednesday and approached the record high hit earlier this week on active bargain-hunting after prices tumbled by the 100-yen daily limit the previous day.
Published 18 May, 2006 12:00am
New York precious metals finish strong

New York precious metals finish strong

US precious metals ended with healthy gains on Tuesday, a day after suffering stiff losses in a commodity-wide sell off, and some traders said the dollar's decline was behind gold's dramatic reversal.
Published 18 May, 2006 12:00am
New York copper ends firm on speculative bargain

New York copper ends firm on speculative bargain

Comex copper futures closed firm on Tuesday, with prices ending just off their session peaks, as speculative money returned to the market following the sell-off on Monday, sources said.
Published 18 May, 2006 12:00am
MGE wheat futures, following KCBT strength

MGE wheat futures, following KCBT strength

Spring wheat futures at the Minneapolis Grain Exchange settled quietly higher on Tuesday, following strength in the Kansas City wheat market amid news of an Iraqi tender, traders said.
Published 18 May, 2006 12:00am
New York coffee ends on positive ground

New York coffee ends on positive ground

Arabica coffee futures finished up nearly 1 percent on Tuesday, boosted by light fund buying and speculative short-covering in the wake of three straight days of sharp price declines, traders said.
Published 18 May, 2006 12:00am
US cocoa advances as dollar weakens

US cocoa advances as dollar weakens

US cocoa futures settled in positive territory on Tuesday, bolstered by speculators buying into arbitrage selling amid a sliding dollar, traders said.
Published 18 May, 2006 12:00am
Uganda gives LRA rebel chief ultimatum for talks

Uganda gives LRA rebel chief ultimatum for talks

Uganda will guarantee the safety of an internationally wanted rebel leader if he gives up his 20-year insurgency before the end of July, President Yoweri Museveni said in a statement released late on Tuesday.
Published 18 May, 2006 12:00am
Tattooed mummy unlocks Peru's Moche culture

Tattooed mummy unlocks Peru's Moche culture

Archaeologists probing Peru's lifeless northern desert discovered a 1,500-year-old mummy that may unlock secrets of the Moche, one of the mysterious civilisations that once ruled the Andean nation.
Published 18 May, 2006 12:00am
Paul McCartney blames media for marriage split

Paul McCartney blames media for marriage split

Former Beatle Paul McCartney and his second wife Heather Mills have separated after four years of marriage, they confirmed in a statement on Wednesday, blaming media intrusion for the split.
Published 18 May, 2006 12:00am
Russia-US row dims hopes of smooth G8 summit

Russia-US row dims hopes of smooth G8 summit

Russian President Vladimir Putin seems ready to run the risk of staging a fractious affair when he hosts the G8 summit in July, rather than give ground to US criticism and lose face at home.
Published 18 May, 2006 12:00am
Pakistan and Libya agree to reactivate JBC

Pakistan and Libya agree to reactivate JBC

Pakistan and Libya on Wednesday agreed on enhanced co-operation in defence, security, energy, banking, trade and railway sectors, and expressed the resolve to boost their multifaceted ties in all spheres.
Published 18 May, 2006 12:00am
Wounded Nigerian leader Obasanjo will fight back

Wounded Nigerian leader Obasanjo will fight back

Nigerian President Olusegun Obasanjo has been wounded by the collapse of a campaign to extend his tenure, but analysts say it is too early to write him out of the script in next year's elections.
Published 18 May, 2006 12:00am
Pakistan and Libya agree to reactivate JBC

Pakistan and Libya agree to reactivate JBC

Pakistan and Libya on Wednesday agreed on enhanced co-operation in defence, security, energy, banking, trade and railway sectors, and expressed the resolve to boost their multifaceted ties in all spheres.
Published 18 May, 2006 12:00am
Russian revolution reigns in Rome

Russian revolution reigns in Rome

Former Roland Garros champion Anastasia Myskina played through a thigh injury to manage a patchy 6-0, 1-6, 6-4 victory over Italian Roberta Vinci to move into the third round of the Rome Masters on Wednesday.
Published 18 May, 2006 12:00am
Pakistan and Libya agree to reactivate JBC

Pakistan and Libya agree to reactivate JBC

Pakistan and Libya on Wednesday agreed on enhanced co-operation in defence, security, energy, banking, trade and railway sectors, and expressed the resolve to boost their multifaceted ties in all spheres.
Published 18 May, 2006 12:00am
Gaudio crashes to French qualifier Simon

Gaudio crashes to French qualifier Simon

Former French Open champion Gaston Gaudio lost a good lead, his shorts, and the match in an extraordinary series of upsets in one second round encounter in the Masters Series.
Published 18 May, 2006 12:00am
Shaukat attends Qaddafi's banquet

Shaukat attends Qaddafi's banquet

Leader of the Revolution Colonel Muarnmer Al-Qaddafi on Wednesday hosted a banquet in honour of Prime Minister Shaukat Aziz and members of his delegation.
Published 18 May, 2006 12:00am
India open West Indies tour with big win

India open West Indies tour with big win

Mahendra Dhoni sounded a warning to the West Indies ahead of the one-day series with an explosive 45 in India's 116-run victory over Jamaica here on Tuesday.
Published 18 May, 2006 12:00am
Shaukat attends Qaddafi's banquet

Shaukat attends Qaddafi's banquet

Leader of the Revolution Colonel Muarnmer Al-Qaddafi on Wednesday hosted a banquet in honour of Prime Minister Shaukat Aziz and members of his delegation.
Published 18 May, 2006 12:00am
Nato seeks Pakistan's help

Nato seeks Pakistan's help

Nato has launched talks with Pakistan on transporting supplies via the country to its expanding peacekeeping force in neighbouring Afghanistan, a spokesman said on Wednesday.
Published 18 May, 2006 12:00am
Shane Warne's hair-loss ad broke British rules

Shane Warne's hair-loss ad broke British rules

A hair-loss treatment advertisement featuring Australian cricket legend Shane Warne was found in breach of British advertising industry rules on Wednesday.
Published 18 May, 2006 12:00am