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Print - 2006-07-04
New York cotton

New York cotton

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

Published 04 Jul, 2006 12:00am
Expansion in importable item-list from India sought

Expansion in importable item-list from India sought

The industries and production ministry has sought expansion in the importable item-list from India and establishment of two clusters for auto industry, sources told Business Recorder.
Published 04 Jul, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 04 Jul, 2006 12:00am
Five-year old cars import allowed under baggage scheme

Five-year old cars import allowed under baggage scheme

The Ministry of Commerce (MoC) has notified the changes in the Import Policy Order, 2005, to facilitate import of up to 5-year old cars and other vehicles under 'Gift, Personal Baggage and Transfer of Residence Schemes'.
Published 04 Jul, 2006 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Five-year old cars import allowed under baggage scheme

Five-year old cars import allowed under baggage scheme

The Ministry of Commerce (MoC) has notified the changes in the Import Policy Order, 2005, to facilitate import of up to 5-year old cars and other vehicles under 'Gift, Personal Baggage and Transfer of Residence Schemes'.
Published 04 Jul, 2006 12:00am
Five-year old cars import allowed under baggage scheme

Five-year old cars import allowed under baggage scheme

The Ministry of Commerce (MoC) has notified the changes in the Import Policy Order, 2005, to facilitate import of up to 5-year old cars and other vehicles under ''Gift, Personal Baggage and Transfer of Residence Schemes''.
Published 04 Jul, 2006 12:00am
KESC trying to resolve power crisis

KESC trying to resolve power crisis

Karachi Electric Supply Corporation (KESC) is trying to maintain power supply in the metropolis after receiving additional power of 100MW from Wapda on daily basis.
Published 04 Jul, 2006 12:00am
Pension Funds rules terms clarified

Pension Funds rules terms clarified

The CBR has amended the Income Tax Ordinance 2001 to describe various provisions of Voluntary Pension Fund Rules. The Board's explanatory circular has specified that the profit or gain or benefit derived by the pension fund or the pension fund manager fro
Published 04 Jul, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Warid and Chimera ink deal

Warid and Chimera ink deal

Warid Telecom has joined hands with Chimera to launch a special promotion to offer popular mobile phones to new subscribers. These sets are offered free of cost with Warid post-paid connections and at very low prices with prepaid connections bought from C
Published 04 Jul, 2006 12:00am
Punjab Assembly passes revision of emoluments bill 2006

Punjab Assembly passes revision of emoluments bill 2006

Punjab Assembly has passed the Punjab Local Government (Amendment) Bill 2006 on Monday, in which mode of voting has been changed to 'show of hands' in niab nazim elections, which the opposition termed as violation of the Constitution.
Published 04 Jul, 2006 12:00am
Punjab Assembly passes revision of emoluments bill 2006

Punjab Assembly passes revision of emoluments bill 2006

Punjab Assembly has passed the Punjab Local Government (Amendment) Bill 2006 on Monday, in which mode of voting has been changed to 'show of hands' in niab nazim elections, which the opposition termed as violation of the Constitution.
Published 04 Jul, 2006 12:00am
THE RUPEE: slight fall versus dollar, Euro sharply up

THE RUPEE: slight fall versus dollar, Euro sharply up

The rupee moved both ways against the dollar and drifted sharply lower versus the euro in the open market on Monday, dealers said. The rupee started the new fiscal year 2006-07 on negative note in the interbank market, showing four paisa loss against the
Published 04 Jul, 2006 12:00am
SBP directive to authorised dealers

SBP directive to authorised dealers

The State Bank on Monday advised authorised dealers that they may credit PKR denominated R&D support payments from the SBP in the relevant non-resident PKR accounts of EPZs units maintained with them and, thereafter, allow withdrawals/debits in PKR for eq
Published 04 Jul, 2006 12:00am
THE RUPEE: slight fall versus dollar, Euro sharply up

THE RUPEE: slight fall versus dollar, Euro sharply up

The rupee moved both ways against the dollar and drifted sharply lower versus the euro in the open market on Monday, dealers said. The rupee started the new fiscal year 2006-07 on negative note in the interbank market, showing four paisa loss against the
Published 04 Jul, 2006 12:00am
Rs 160 billion agriculture credit target approved

Rs 160 billion agriculture credit target approved

The Agricultural Credit Advisory Committee (ACAC) has approved a target of Rs 160 billion for disbursement of agriculture credit to farmers during fiscal year 2006-07. This target is 23 percent higher than last fiscal year's target of Rs 130 billion.
Published 04 Jul, 2006 12:00am
Picic Bank ratings reaffirmed

Picic Bank ratings reaffirmed

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term credit rating of Picic Commercial Bank Limited at A+ (Single A Plus) and the short-term rating at A1 (A-One).
Published 04 Jul, 2006 12:00am
Picic Bank ratings reaffirmed

Picic Bank ratings reaffirmed

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term credit rating of Picic Commercial Bank Limited at A+ (Single A Plus) and the short-term rating at A1 (A-One).
Published 04 Jul, 2006 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Call to adopt latest techniques of irrigations

Call to adopt latest techniques of irrigations

Minister for State for Food Agriculture Muhammad Ali Malkani has said that close co-ordination between stakeholders imperative to revolve ongoing situation faced by the growers, sugar mills and consumers.
Published 04 Jul, 2006 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Crescent Bank on 'rating watch'

Crescent Bank on 'rating watch'

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the ratings of Crescent Commercial Bank Limited (CCBL) to BBB/A2 (Triple B/ A Two). The ratings will be on a 'Rating Watch' for an interim period owing to the CCBL board's resolution to consi
Published 04 Jul, 2006 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Crescent Bank on 'rating watch'

Crescent Bank on 'rating watch'

The JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the ratings of Crescent Commercial Bank Limited (CCBL) to BBB/A2 (Triple B/ A Two). The ratings will be on a 'Rating Watch' for an interim period owing to the CCBL board's resolution to consi
Published 04 Jul, 2006 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Metropolitan Bank ratings maintained

Metropolitan Bank ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained both the long-term and short-term ratings of Metropolitan Bank Limited at 'AA+' (Double A Plus) and 'A 1+' (A One Plus), respectively.
Published 04 Jul, 2006 12:00am
Metropolitan Bank ratings maintained

Metropolitan Bank ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained both the long-term and short-term ratings of Metropolitan Bank Limited at 'AA+' (Double A Plus) and 'A 1+' (A One Plus), respectively.
Published 04 Jul, 2006 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
'Big scope exists for Pak-Qatar trade boost'

'Big scope exists for Pak-Qatar trade boost'

Former Ambassador Dr Maqbool Ahmed Bhatti said on Monday that there existed great scope for the expansion of trade ties between Pakistan and Qatar.
Published 04 Jul, 2006 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
First FEPB meeting on July 7

First FEPB meeting on July 7

The first meeting of the re-constituted Federal Export Promotion Board (FEPB) will be held under the chairmanship of Prime Minister of Pakistan in Islamabad on July 7.
Published 04 Jul, 2006 12:00am
Supreme Court issues warning to Advocate-on-Record

Supreme Court issues warning to Advocate-on-Record

The Supreme Court has issued stern warning to Tanvir Ahmad, Advocate-on-Record with a direction to perform his duties and obligations properly in line with the dignity and decorum of the court.
Published 04 Jul, 2006 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Defence to be made impregnable: Musharraf

Defence to be made impregnable: Musharraf

President General Pervez Musharraf said on Monday that Pakistan has strategised its defence requirements for the next 15 years and vowed that defence of the country would be made impregnable. Addressing troops of Northern Light Infantry on the occasion of
Published 04 Jul, 2006 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
US committed to providing F-16s: foreign office

US committed to providing F-16s: foreign office

The US government is committed to providing F-16's aircraft to Pakistan as it considers it a legitimate defence requirement of Pakistan, Foreign Office Spokesperson Tasneem Aslam said here on Monday.
Published 04 Jul, 2006 12:00am
'Media responsible to bring facts before public'

'Media responsible to bring facts before public'

Media has the responsibility to bring the facts before the public, and civil society should participate actively to respond to the situation whatever the odds. There is need to promote culture of tolerance, the role of National Assembly is based on differ
Published 04 Jul, 2006 12:00am
Durrani for strict action against illegal cable operators

Durrani for strict action against illegal cable operators

Minister for Information and Broadcasting, Muhammad Ali Durrani on Monday categorically stated that the government will take punitive measures against illegal cable operators including those found involved in transmission of illegal channels.
Published 04 Jul, 2006 12:00am
100 percent raise in toll tax condemned

100 percent raise in toll tax condemned

Islamabad Chamber of Commerce and Industry (ICCI) on Monday condemned 100 percent raise in toll tax on heavy vehicles entering in Islamabad through G.T. Road. Abdul Rauf, president ICCI said in a statement on Monday that it has created problem for the cit
Published 04 Jul, 2006 12:00am
Withholding on stocks trading clarified

Withholding on stocks trading clarified

The CBR has clarified that the rate of withholding tax on all trading transactions made in the stock exchanges has been increased.
Published 04 Jul, 2006 12:00am
'F-16 to boost defence capability'

'F-16 to boost defence capability'

Chief of Pakistan Air Force Air Chief Marshal, Tanveer Mahmood has said that the supply of F-16s to Pakistan would considerably enhance its defence capabilities. Talking to a private TV Channel he said the agreement to supply the jets was reached in 1980
Published 04 Jul, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (July 03, 2006) and for Tuesday (July 04, 2006).
Published 04 Jul, 2006 12:00am
Pakistan pursuing UN agenda to end illegal small arms trade

Pakistan pursuing UN agenda to end illegal small arms trade

Pakistan is proactively implementing in letter and spirit the UN mandate for all countries to combat and eradicate illicit small arms and light weapons, said the Pakistan's delegate to a UN conference in New York.
Published 04 Jul, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Corruption cases: LHC takes notice of delaying inquiries

Corruption cases: LHC takes notice of delaying inquiries

Lahore High Court Multan bench has taken very serious view into the delaying inquiries into the corruption of serious nature and directed Additional Advocate General to communicate additional director, anti-corruption establishment to produce the entire r
Published 04 Jul, 2006 12:00am
More rain likely in Sialkot

More rain likely in Sialkot

Moderate rain lashed Sialkot and its adjoining areas on Monday morning, bringing down the temperature to many degrees. The rain had brought some relief, but due to the chocked city sewerage system, many busy roads submerged in rainwater as a result of whi
Published 04 Jul, 2006 12:00am
Work on Sialkot dual carriageway under way

Work on Sialkot dual carriageway under way

The development work is briskly under way on converting the 37-kilometre-long Sialkot-Wazirabad road into dual carriageway, costing Rs 880 million. Official sources told Business Recorder here on Monday that the completion of this mega project woul
Published 04 Jul, 2006 12:00am
Cotton cultivation dips in Rahimyar Khan

Cotton cultivation dips in Rahimyar Khan

Cotton cultivation in the district has been completed, covering an area of 750,000 acres of land against the target of 792,000, a first-ever decrease.
Published 04 Jul, 2006 12:00am
Texstyle exposition from August 4

Texstyle exposition from August 4

The International Texstyle Pakistan exhibition will be held from August 4 to 6 at the Fortress Expo Centre here. Pakistani exporters of textile-made-ups, readymade garments, leather machinery, and accessories will attend the three-day mega event.
Published 04 Jul, 2006 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 04 Jul, 2006 12:00am
Fazal Hasan's death condoled

Fazal Hasan's death condoled

Sindh Governor, Dr Ishratul Ibad Khan has condoled the death of Syed Fazal Hasan, a former director of Institute of Business Administration (IBA), Karachi. In a condolence message, he lauded the contributions of the deceased in the realms of education.
Published 04 Jul, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (July 03, 2006).

Published 04 Jul, 2006 12:00am
Time ripe to move towards dispute resolution: Prime Minister

Time ripe to move towards dispute resolution: Prime Minister

Prime Minister Shaukat Aziz said on Monday that the stage has now come for Pakistan and India to move towards dispute resolution and called for a just settlement of the core issue of Jammu and Kashmir to ensure durable peace and security in South Asia.
Published 04 Jul, 2006 12:00am
New York cotton

New York cotton

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

Published 04 Jul, 2006 12:00am
Kasuri leaves for France, US today

Kasuri leaves for France, US today

Foreign Minister Khurshid Mehmood Kasuri embarks on Tuesday on a 10-day visit to France and the United States for talks on bilateral, regional and international issues of mutual interest, it was officially announced here on Monday.
Published 04 Jul, 2006 12:00am
UK's top share index rises

UK's top share index rises

Strength in BP helped Britain's top share index seal a four-day winning streak on Monday following a reassuring production update from the oil producer, taking the benchmark index to its highest closing level in seven weeks.
Published 04 Jul, 2006 12:00am
Palestinian militants issue ultimatum to Israel

Palestinian militants issue ultimatum to Israel

Palestinian militants who abducted an Israeli soldier gave Israel less than 24 hours on Monday to meet their demands to release Palestinian prisoners, threatening unspecified consequences if it refused.
Published 04 Jul, 2006 12:00am
Greek and Turkish Cypriot leaders meet

Greek and Turkish Cypriot leaders meet

Leaders of Cyprus's divided Greek and Turkish communities said on Monday they were willing to meet again after their first face-to-face talks in more than two years.
Published 04 Jul, 2006 12:00am
Hamas health minister terms EU aid plan a 'plot'

Hamas health minister terms EU aid plan a 'plot'

Palestinian Health Minister Basim Naeem of Hamas asked hospital directors on Monday not to cooperate with the European Union in setting up a programme to pay cash allowances directly to government doctors and nurses. He said the EU should work through his
Published 04 Jul, 2006 12:00am
Sterling struggles

Sterling struggles

Sterling lost ground on Monday despite stronger-than-expected British manufacturing data as markets remained convinced the Bank of England is unlikely to raise interest rates anytime soon.
Published 04 Jul, 2006 12:00am
Euro hits record high versus yen

Euro hits record high versus yen

The euro hit a record high against the yen on Monday as eurozone interest rates looked set to rise while uncertainty remained over Japan's interest rate outlook. A stronger-than-expected eurozone manufacturing sector survey supported the view that the Eur
Published 04 Jul, 2006 12:00am
Bonds: Renault CDS widen

Bonds: Renault CDS widen

French automaker Renault dominated attention in an otherwise thin European corporate bond market on Monday, as concerns built ahead of a board meeting that will discuss a plan for a tie up with General Motors Corp.
Published 04 Jul, 2006 12:00am
Bonds: Renault CDS widen

Bonds: Renault CDS widen

French automaker Renault dominated attention in an otherwise thin European corporate bond market on Monday, as concerns built ahead of a board meeting that will discuss a plan for a tie up with General Motors Corp.
Published 04 Jul, 2006 12:00am
Two percent quota for disabled in jobs assured

Two percent quota for disabled in jobs assured

Director Social Welfare Department, Dr Fakhar-ul- lslam has assure that his department would ensure implementation on two percent fixed quota for the disabled people in the government jobs. Similarly, inspectors have been engaged by the department for the
Published 04 Jul, 2006 12:00am