News Archives for Print - 2006-05-24

Print - 2006-05-24

Car bombs kill ten in Baghdad

Car bombs killed at least 10 people in Baghdad on Tuesday, police said, in two separate attacks that underlined the security challenge facing Iraq's still incomplete government.

Published 24 May, 2006 12:00am

ISO sees sugar deficit disappearing

The International Sugar Organisation (ISO) expects a global sugar deficit, estimated at just under 1 million tonnes for this year, to disappear in the year 2006/07, as production increases.

Published 24 May, 2006 12:00am

Commodities sell-off seen as 'buy' signal

The week-long sell-off in commodities has erased many millions of dollars in recent profits, but investors who had warmed to the asset class will not park their money forever in bland bonds or money market funds.

Published 24 May, 2006 12:00am

Greek and Turkish jets collide in disputed area

Greek and Turkish F-16 fighters collided on Tuesday while shadowing each other over the southern Aegean, where the two Nato allies have long disputed control over airspace.

Published 24 May, 2006 12:00am

House backs limits on Palestinian aid

The US House of Representatives overwhelmingly backed legislation on Tuesday to impose broad restrictions on US aid to the Hamas-led Palestinian Authority, defying President George W. Bush in the midst of high-profile Mideast talks.

Published 24 May, 2006 12:00am

Thaksin takes back control

Thai Prime Minister Thaksin Shinawatra formally took back the reins of power on Tuesday, chairing a cabinet meeting almost two months after he came under fire from critics and announced he was taking a break.

Published 24 May, 2006 12:00am

Israel captures top Hamas commander

Israeli security forces on Tuesday captured the top Hamas commander in the occupied West Bank, who is accused of masterminding suicide bombings during a more than 5-year-old Palestinian revolt.

Published 24 May, 2006 12:00am

China military upgrades long-term threat to US: Pentagon

The pace and scope of China's modernisation of its strategic forces and other surprising military developments could pose a credible long-term threat to the United States, the Pentagon warned Tuesday.

Published 24 May, 2006 12:00am

Olmert, Rumsfeld discuss Iran and Palestinian issues

Israeli Prime Minister Ehud Olmert holds talks at the Pentagon and White House on Tuesday, seeking during his first visit to Washington to co-ordinate policy on the Palestinians and the Iranian nuclear crisis.

Published 24 May, 2006 12:00am

Rights group blames terror fight for Asia abuses

Nations across Asia used terrorism to justify curtailing human rights last year, watchdog Amnesty International said on Tuesday in a new report outlining abuses in the region. From secret court hearings in China to detention without trial in Australia to

Published 24 May, 2006 12:00am

Russia backs EU proposal, urges Iran to cooperate

Russian Foreign Minister Sergei Lavrov said in Kuwait Tuesday that Moscow supports an EU proposal aimed at coaxing Iran into halting sensitive nuclear work and called on Tehran to cooperate.

Published 24 May, 2006 12:00am

China key to resolving nuclear crises: Annan

UN Secretary-General Kofi Annan said on Tuesday the stalemate over North Korea's nuclear weapons programme cannot be allowed to continue and China is crucial to the success of talks trying to bring it to a close.

Published 24 May, 2006 12:00am

14 killed in Afghanistan

Taleban guerrillas attacked a convoy of provincial officials and police in southern Afghanistan and 11 Taliban and three policemen were killed, the government said on Tuesday.

Published 24 May, 2006 12:00am

Oil surges over 2.5 percent on commodity rebound

Oil prices surged more than 2.5 percent on Tuesday as commodities rebounded from last week's selloff and the US government predicted another rough Atlantic hurricane season.

Published 24 May, 2006 12:00am

Thai flash floods, mudslides kill 34

Heavy monsoon rains unleashed flash floods and mudslides in northern Thailand which killed at least 34 people, left dozens missing and thousands homeless, officials said on Tuesday.

Published 24 May, 2006 12:00am

Hong Kong dollar inches lower

The Hong Kong dollar softened against the US currency on Tuesday, while the overnight interbank rate jumped due to large amounts of funds being tied up by massive interest in an initial public offering (IPO).

Published 24 May, 2006 12:00am

Asian currencies regain some ground but equity slide weighs

The South Korean won and Singapore dollar rose almost 1 percent on Tuesday, cutting losses from last week's sell-off, but gains were checked as stocks took another beating on growing wariness about emerging markets.

Published 24 May, 2006 12:00am

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 69.10/69.20 (previous 69.10/69.20). Call Money Rates: 12.00-27.00 percent (previous 12.00-28.00 percent).

Published 24 May, 2006 12:00am

Dollar slides in choppy markets, emerging units fall

The dollar weakened against major currencies on Monday in volatile trading as investors grew nervous about the outlook for the US economy and interest rates.

Published 24 May, 2006 12:00am

Yen jumps after Japan outlook upgraded

The yen jumped against the dollar and the euro on Tuesday after ratings agency Standard & Poor's revised its rating outlook for Japan to positive from stable.

Published 24 May, 2006 12:00am

Chinese yuan bounces from seven-week low

Chinese yuan closed higher against the dollar on Tuesday, bouncing from a seven-week low hit on Monday as the US currency weakened on global markets.

Published 24 May, 2006 12:00am

Swiss franc firms again euro, steady versus dollar

The Swiss franc firmed against the euro on Tuesday, again breaking through the psychologically sensitive 1.55 mark, as financial markets awaited the release of April trade data.

Published 24 May, 2006 12:00am

Philippines shares weaken

Philippines share prices closed sharply lower on Tuesday, losing 3.97 percent in the biggest single day loss for nearly seven years as local investors caught up with Monday's global downturn, dealers said.

Published 24 May, 2006 12:00am

Tokyo shares post lowest close in three months

The Nikkei average posted its lowest close in three months on Tuesday, dropping 1.63 percent as exporters such as Honda Motor Co Ltd lost ground due to concern about more interest rate rises in the key US market.

Published 24 May, 2006 12:00am

Thai share prices climb

Thai share prices climbed 0.38 percent higher on Tuesday as regional markets began to rebound after plunging one day earlier on fears over rising US interest rates, dealers said.

Published 24 May, 2006 12:00am

US MIDDAY: corn lower

Corn futures on the Chicago Board of Trade were weaker by Tuesday's midsession on technical sales by commodity funds, traders said. "I think the fact it couldn't find a bid with the outside markets ... we're starting to see some pressure," said one cash-c

Published 24 May, 2006 12:00am

Seoul stocks down

Seoul stocks hit an eight-week low on Tuesday as fears of a slowdown in the US economy kept investors sidelined, but some beaten-down technology shares such as Samsung Electronics Co Ltd rose.

Published 24 May, 2006 12:00am

US Stocks: Tuesday's unofficial close

US stocks bounced back on Tuesday as rising global commodity prices boosted shares of energy and metals companies such as Exxon Mobil Corp and Alcoa Inc.

Published 24 May, 2006 12:00am

Bonds: Credit indices rally as equities surge

European credit markets rallied on Tuesday as the continent's equity markets bounced back sharply from days of selling, but traders said the action gave little clue as to where the market would go from here.

Published 24 May, 2006 12:00am

Bonds: Credit indices rally as equities surge

Published 24 May, 2006 12:00am

Yen rises in London

The yen firmed against the dollar and euro on Tuesday, boosted by ratings agency Standard & Poor's revised rating outlook for Japan to positive from stable.

Published 24 May, 2006 12:00am

Sterling slips against dollar

Sterling slipped against a resurgent dollar on Tuesday but held steady against the euro as the prospect of merger-related money flows into Britain lent support to the pound.

Published 24 May, 2006 12:00am

Indian rupee edges up versus dollar

The Indian rupee edged up against the dollar on Tuesday as local share prices ended higher but dealers said deceleration of fund flows from foreign investors could again see the rupee easing towards this week's 2006 low.

Published 24 May, 2006 12:00am

Closing stock market indices

Here is how major stock markets outside the United States ended on Tuesday.

Published 24 May, 2006 12:00am

US MIDDAY: gold races higher

Gold futures in New York bounced from a four-week low on Tuesday as investors returned to commodities after a steep sell-off last week that dropped prices to cheaper levels, dealers said.

Published 24 May, 2006 12:00am

US MIDDAY: soyabeans firm

The Chicago Board of Trade soyabean market came off its highs by Tuesday's midsession, pressured by the sell-off in wheat after an early rally, trades said.

Published 24 May, 2006 12:00am

US MIDDAY: copper soars

US copper futures surged up their 20-cent daily limit early on Tuesday, prompting the New York Mercantile Exchange to halt trade for 15 minutes, floor dealers said.

Published 24 May, 2006 12:00am

Chinese shares slip

Chinese shares slipped 3.2 percent on Tuesday - their biggest single-day percentage drop in nine months - as investors dumped blue chips to lock in gains after the benchmark index soared 15 percent this month.

Published 24 May, 2006 12:00am

US MIDDAY: wheat down

Wheat futures at the Chicago Board of Trade turned lower at midmorning on Tuesday on profit-taking after worries about the US Plains wheat crop lifted the market to fresh highs, traders said.

Published 24 May, 2006 12:00am

US MIDDAY: sugar moves up

Sugar futures rose more than 1 percent in New York Tuesday, following a rebound in most commodities, and traders predicted milder gains in the near term as output rises.

Published 24 May, 2006 12:00am

US MIDDAY: coffee futures firm

Benchmark arabica coffee futures rose nearly 2 percent Tuesday as speculators bought back their short positions amid a general rally in the commodity sector, market sources said.

Published 24 May, 2006 12:00am

US MIDDAY: cocoa slumps

Cocoa futures fell for the third consecutive session Tuesday to a one-month low, depressed by speculative selling and spread trading in line with softer bean values in London, market sources said.

Published 24 May, 2006 12:00am

European precious metals bounce back

Precious metals struck back in late European trade on Tuesday, with gold rising 2.4 percent and silver jumping by more than five percent on renewed buying by investors, dealers said.

Published 24 May, 2006 12:00am

Copper jumps 11.4 percent

Copper put in a barnstorming performance on the London Metal Exchange (LME) on Tuesday, rising $870 a tonne, or 11.4 percent, the biggest ever daily gain, as the metals complex recovered from a recent correction.

Published 24 May, 2006 12:00am

London sugar rises

Sugar bucked the trend of notable rises in commodities prices on Tuesday afternoon, as a forecast from the International Sugar Organisation (ISO) that the current deficit would vanish, depressed the market.

Published 24 May, 2006 12:00am

New York cotton rallies

Cotton futures closed with strong gains on Tuesday, more than recovering from the new contract low set on Monday, as cotton rallied with most other commodities in a speculative buying frenzy, traders said.

Published 24 May, 2006 12:00am

Rotterdam vegetable oil prices

Tuesday's Rotterdam vegetable oil prices at 1600 GMT.

Published 24 May, 2006 12:00am

Rotterdam vegetable oil prices

Tuesday's Rotterdam vegetable oil prices at 1600 GMT.

Published 24 May, 2006 12:00am

Oil World ups Malaysian palm oil estimate

Hamburg-based oilseeds analysts Oil World said it has raised its estimate of Malaysia's October 2005/September 2006 season palm oil output to 15.3 million tonnes, up by 400,000 tonnes from its previous forecast in April.

Published 24 May, 2006 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Pak-Brunei joint investment company being set up

The federal Cabinet will ratify the agreement between Pakistan and Brunei Darussalam for establishment of joint investment company. The authorised capital of the JV Company would be $25 million in the equivalent of Pak rupees and the parties capital contr

Published 24 May, 2006 12:00am

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Australia exports $5 billion meat, livestock annually: High Commissioner

Australian High Commissioner M.S. Zorica McCarthy has said that his country being largest exporter, exports meat and livestock worth about $5 billion annually. She was talking to reporters after the inauguration of "Jason's Steak House" at a local hotel o

Published 24 May, 2006 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Record number of budget proposals received

The Federal Ministries which have direct dealing with the general public including Health, Commerce, Finance, CBR, Communications and others have received this year a record number of proposals for inclusion in the budget, reports UPP correspondent.

Published 24 May, 2006 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Record number of budget proposals received

Published 24 May, 2006 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Sino-Pak friendship to boost security: Prime Minister

Prime Minister Shaukat Aziz has said that Pak-China relationship is designed to promote security and co-operation with neighbours as well as with global partners.

Published 24 May, 2006 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

UK one of the biggest investors in Pakistan: Lyall

United Kingdom is one of the biggest investors with over 200 registered companies operating in various sectors, said UK ambassador to Pakistan, Mark Lyall Grant here on Tuesday.

Published 24 May, 2006 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Pakistan wants stable Afghanistan: Prime Minister

Prime Minister Shaukat Aziz on Tuesday said Pakistan wants stable, strong and prosperous Afghanistan as it is good for people of Afghanistan, Pakistan and the region.

Published 24 May, 2006 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Pervaiz orders improvement of RHCs

Punjab Chief Minister Chaudhry Pervaiz Elahi has issued directions for improving the condition of Rural Health Centers (RHCs) in the province in order to decrease burden on hospitals in the cities. He issued these directions while inaugurating Services In

Published 24 May, 2006 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

'USC expanding network to meet people's needs'

The Utility Stores Corporation Managing Director Brigadier Hafeez Ahmed (Retd) said on Tuesday the organisation was working hard to expand its network to meet the needs of maximum population in the country.

Published 24 May, 2006 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Pak-China trade expected to reach $8 billion by 2008

Bilateral trade between Pakistan and China is expected to reach 8 billion dollars by 2008. This was stated by Director East-Asia Institute of Strategic Studies Islamabad (ISSI) Fazal-ur-Rehman who was speaking on Pak-China Economic Co-operation here on Tu

Published 24 May, 2006 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

NAB grills CBR chairman over OCAC regime

The National Accountability Bureau (NAB) has questioned Central Board of Revenue (CBR), chairman Abdullah Yousaf, in connection with his role as secretary petroleum in forming oil marketing companies' advisory body (OCAC) to fix oil prices on fortnightly

Published 24 May, 2006 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Follow up ulema conference from May 29

The Population Welfare Ministry has finalised arrangements for a two-day Follow up Ulema Conference to be held from May 29-30.

Published 24 May, 2006 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Compensation to all Hangu victims: Prime Minister

Prime Minister Shaukat Aziz emphasising the need to promote tolerance, patience and mutual respect for each other said on Tuesday that religious events should be observed with due respect for each other.

Published 24 May, 2006 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

CPNE formally lodges complaint against Salahuddin Haider

Council of Pakistan Newspapers Editors (CPNE) on Tuesday formally lodged a complaint against "reprehensible behaviour, word and actions" of Advisor to Sindh Chief Minister for Information and Archives Salahuddin Haider.

Published 24 May, 2006 12:00am

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

SHC seeks comments about whereabouts of TV channel's managing director

Sindh High Court on Tuesday directed secretaries of interior and defence ministries to file their comments regarding whereabouts of satellite TV channel's managing director, who is allegedly have been arrested by law enforcement agencies since April 4, 20

Published 24 May, 2006 12:00am

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Coalition government completed a long-term plan: Ibad

Sindh Governor Dr Ishrat-ul-Ibad Khan has said that in Sindh, a coalition government consisting of various parties is in power and for the first time the government has completed a long-term plan under the guidance of President Pervez Musharraf and hopefu

Published 24 May, 2006 12:00am

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Tuesday (May 23, 2006).

Published 24 May, 2006 12:00am

Move to put prosecution service under law department

Sindh Law Department has moved a summary, seeking placement of prosecution service under the administrative control of the Law Department.

Published 24 May, 2006 12:00am

Dates of Closure of Books & Annual General Meetings

Dates of Closure of Books and holding of Ordinary and Extra-Ordinary General Meetings of companies listed on the stock exchanges.

Published 24 May, 2006 12:00am

Pragmatic approach stressed for poverty alleviation

The Sindh Abadgar Board (SAB) has said that no government programme to alleviate poverty will succeed if pragmatic approach is not followed in the all important agriculture sector. Speaking at a news conference at the Hyderabad Press Club here on Tuesday.

Published 24 May, 2006 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 9	281.75
USD PKR Interbank Buying / May 9	281.50
USD to Japanese Yen / May 9	145.37
USD to Swiss Franc / May 9	0.83
Pound Sterling to USD / May 9	1.33
Euro to USD / May 9	1.12
UK LIBOR % / May 9	4.96

Stock	Volume
S&P 500 / May 9	5,659.91
India Sensex / May 9	79,454.47
Tokyo Nikkei / May 9	37,503.33
Nasdaq / May 9	17,928.92
Hang Seng / May 9	22,867.74
FTSE 100 / May 9	8,554.80
Dow Jones / May 9	41,249.38
Germany DAX 30 / May 9	23,499.32
France CAC40 / May 9	7,743.75

Item	Value
Crude Oil USD/Barrel / May 9	61.02
Karachi Cotton PKR/37.32 KG / May 9	16,985
Gold 10 Grams PKR / May 9	300,840
Gold Spot USD/Ounce / May 9	3,324.98
Cotton US¢/pound / May 9	66.61
Petrol/Litre / May 11	252.63
Diesel/Litre / May 11	256.64

Gainers
Losers
Leaders

Stock	Price
First AL-Noor Mod. / May 9 First Al-Noor Modaraba(FANM)	3 ▲ 0.67 (28.76%)
Premier Insurance / May 9 Premier Insurance Limited(PINL)	5.15 ▲ 0.72 (16.25%)
Escorts Bank / May 9 Escorts Investment Bank Limited(ESBL)	5.98 ▲ 0.83 (16.12%)
Parmount Sp. / May 9 Paramount Spinning Mills Limited(PASM)	3.22 ▲ 0.41 (14.59%)
UDL International / May 9 UDL International Limited(UDLI)	7.10 ▲ 0.85 (13.6%)
Abdullah Shah / May 9 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	5.44 ▲ 0.65 (13.57%)
Chenab Ltd (Pref) / May 9 Chenab Limited (Pref)(CLCPS)	2.05 ▲ 0.23 (12.64%)
LSE Capital / May 9 LSE Capital Limited(LSECL)	4.39 ▲ 0.48 (12.28%)
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	6.42 ▲ 0.7 (12.24%)
D.S. Ind. Ltd. / May 9 D.S. Industries Limited(DSIL)	3.90 ▲ 0.41 (11.75%)

Stock	Price
Cyan Limited / May 9 Cyan Limited(CYAN)	27.05 ▼ -5.03 (-15.68%)
Burj Clean Energy Modaraba / May 9 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.11 ▼ -1 (-12.33%)
Universal Ins. / May 9 The Universal Insurance Company Limited(UVIC)	8.25 ▼ -1 (-10.81%)
Sally Textile / May 9 Sally Textile Mills Limited(SLYT)	7.14 ▼ -0.86 (-10.75%)
Jubilee Spinning / May 9 Jubilee Spinning & Weaving Mills Ltd.(JUBS)	8.43 ▼ -0.95 (-10.13%)
At-Tahur Ltd. / May 9 At-Tahur Limited(PREMA)	42.57 ▼ -4.73 (-10%)
Khyber Tobacco / May 9 Khyber Tobacco Company Limited(KHTC)	342.26 ▼ -38.03 (-10%)
Dewan Mushtaq / May 9 Dewan Mushtaq Textile Mills Limited(DMTM)	9.29 ▼ -1.03 (-9.98%)
PIA Holding Co.Ltd / May 9 PIA Holding Company Limited(PIAHCLA)	12.23 ▼ -1.35 (-9.94%)
First Elite Cap.Mod / May 9 First Elite Capital Modaraba(FECM)	18.44 ▼ -2 (-9.78%)

Stock	Volume
WorldCall Telecom / May 9 Worldcall Telecom Limited(WTL)	47,087,025 ▲ 0.06
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	33,590,475 ▲ 0.7
Sui South Gas / May 9 Sui Southern Gas Company Limited(SSGC)	29,288,646 ▼ -1.53
B.O.Punjab / May 9 The Bank of Punjab(BOP)	18,310,598 ▲ 0.44
Pak Refinery / May 9 Pakistan Refinery Limited(PRL)	15,347,121 ▲ 0.3
PIA Holding Co.Ltd / May 9 PIA Holding Company Limited(PIAHCLA)	14,961,675 ▼ -1.35
Sui North Gas / May 9 Sui Northern Gas Pipelines Limited(SNGP)	14,847,660 ▲ 5.69
K-Electric Ltd. / May 9 K-Electric Limited(KEL)	14,463,181 ▲ 0.09
Maple Leaf Cement / May 9 Maple Leaf Cement Factory Limited(MLCF)	13,544,491 ▲ 2.45
Kohinoor Spining / May 9 Kohinoor Spinning Mills Limited(KOSM)	13,517,642 ▲ 0.05

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