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Print - 2006-07-18
Government urged to fix Rs 500/40 kg wheat support price

Government urged to fix Rs 500/40 kg wheat support price

Farmers associations have demanded of the government to fix wheat support price at Rs 500 per 40 kg for the next crop. They have also urged the government to set separate wheat procurement targets for Passco and provincial food departments. This was state
Published 18 Jul, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Jul, 2006 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Monday (July 17, 2006).

Published 18 Jul, 2006 12:00am
Law department notifies appointments

Law department notifies appointments

The Provincial Law Department has notified that Gul Munir Shah, District and Sessions Judge (BS-20) has assumed the charge of the post of Additional Secretary/Draftsman (BS-20), Law Department, Government of Sindh.
Published 18 Jul, 2006 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Monday (July 17, 2006).

Published 18 Jul, 2006 12:00am
Pakistan sets up ICU at Zia Hospital in Sri Lanka

Pakistan sets up ICU at Zia Hospital in Sri Lanka

The Pakistan government has donated a fully equipped, modern Intensive Care Unit (ICU) to the Zia Hospital, Akurana in Sri Lanka. The ICU was formally inaugurated by the Pakistan High Commissioner in Sri Lanka Bashir Wali Muhammad on July 15, 2006.
Published 18 Jul, 2006 12:00am
Private sector urged to extend health, education facilities to poor

Private sector urged to extend health, education facilities to poor

The renowned scholar and educationist Professor Qavi Ahmed has appealed the philanthropists and private sector to come forward and participate with government in extending health and education facilities especially to the people of poor class. This he sai
Published 18 Jul, 2006 12:00am
Germany fears more bloodshed in Middle East: envoy

Germany fears more bloodshed in Middle East: envoy

The Israeli aggression against the Palestinians and Lebanese indicates of further battles and bloodshed in the Middle East. In the current climate of fear, anger and frustration, everyone witnessing a situation in which the gulf between these civilisation
Published 18 Jul, 2006 12:00am
Supreme Court orders prisoners' release

Supreme Court orders prisoners' release

The Supreme Court of Pakistan ordered release of Rehana of Kohat who was in jail in a Hudood case along with her husband and a 10-month son after reverting to Islam, and observed that the petitioner should also be released after the presidential orders.
Published 18 Jul, 2006 12:00am
General Ehsan decorated with highest French award

General Ehsan decorated with highest French award

Chairman Joint Chiefs of Staff General Ehsan-ul-Haq was decorated with France's highest award, "Legion d'Honneur" here at a ceremony held at the residence of French ambassador.
Published 18 Jul, 2006 12:00am
PIDC allocated Rs 60 million for Hanover Messe: EDB

PIDC allocated Rs 60 million for Hanover Messe: EDB

A spokesperson of Engineering Development Board (EDB) in its clarification about a news published in Business Recorder that EDB's BoD refused to approve the Hanover expenses said that Pakistan Industrial Development Corporation (PIDC) had allocated
Published 18 Jul, 2006 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Monday (July 17, 2006).

Published 18 Jul, 2006 12:00am
Telecom policy to ensure win-win situation for all: PTA

Telecom policy to ensure win-win situation for all: PTA

Chairman Pakistan Telecommunication Authority (PTA) Major General Shahzada Alam Malik (Retd) has said that the government was following a liberal policy to ensure a win-win situation for all telecom sector stakeholders.
Published 18 Jul, 2006 12:00am
Guard Filters expands capacity

Guard Filters expands capacity

The service oriented management of Guard Filters has bought complete coiling and seaming unit of Delphi Filters from UK based world renowned Lucas CAV to Pakistan. Guard Filters, Pioneer in Pakistan in filtration for fuel injection pump system, has acquir
Published 18 Jul, 2006 12:00am
'Balochistan share in PSDP raised to 15 percent'

'Balochistan share in PSDP raised to 15 percent'

The extra ordinary increase in the share of Balochistan in annual development budget allocations would help in bringing the province at par with rest of the country, Balochistan Additional Chief Secretary Qayyum Nazar Changezi said on Monday.
Published 18 Jul, 2006 12:00am
Tevta completes enrolment for short courses

Tevta completes enrolment for short courses

Technical Education and Vocational Training Authority (Tevta) has completed its first phase of special training programme in which 25,000 students have been enrolled after its launching on July 3, 2006.
Published 18 Jul, 2006 12:00am
MoC asked to relax condition for five years old cars import

MoC asked to relax condition for five years old cars import

The CBR has asked the Ministry of Commerce to give relaxation for import to vehicles of five years old or above under the transfer of residence (TR) scheme in cases where shipments were made on or before June 5, 2006.
Published 18 Jul, 2006 12:00am
MoC asked to relax condition for five years old cars import

MoC asked to relax condition for five years old cars import

The CBR has asked the Ministry of Commerce to give relaxation for import to vehicles of five years old or above under the transfer of residence (TR) scheme in cases where shipments were made on or before June 5, 2006.
Published 18 Jul, 2006 12:00am
Tsunami kills 104 in Indonesia

Tsunami kills 104 in Indonesia

A tsunami triggered by a strong undersea earthquake off the coast of Indonesia's Java island on Monday killed at least 104 people, swept away buildings and damaged hundreds of fishing boats, officials and witnesses said.
Published 18 Jul, 2006 12:00am
Tsunami kills 104 in Indonesia

Tsunami kills 104 in Indonesia

A tsunami triggered by a strong undersea earthquake off the coast of Indonesia's Java island on Monday killed at least 104 people, swept away buildings and damaged hundreds of fishing boats, officials and witnesses said.
Published 18 Jul, 2006 12:00am
MoC asked to relax condition for five years old cars import

MoC asked to relax condition for five years old cars import

The CBR has asked the Ministry of Commerce to give relaxation for import to vehicles of five years old or above under the transfer of residence (TR) scheme in cases where shipments were made on or before June 5, 2006.
Published 18 Jul, 2006 12:00am
General Ehsan Saleem arrives in UK

General Ehsan Saleem arrives in UK

Vice Chief of Army Staff (VCOAS) Lieutenant General Ehsan Saleem Hayat arrived here on Sunday to begin his four-day visit to the United Kingdom on the invitation of his British counterpart Sir Mike Jackson. On arrival, he was received by Pakistan High Com
Published 18 Jul, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 18 Jul, 2006 12:00am
Business community terms trade policy ambitious

Business community terms trade policy ambitious

Business community termed the trade policy 2006-07 announced by Commerce Minister Humayun Akhtar, as a very ambitious policy and 18.7 billion-dollar export target is achievable.
Published 18 Jul, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (July 17, 2006).

Published 18 Jul, 2006 12:00am
Businessmen hail steps taken in trade policy

Businessmen hail steps taken in trade policy

Business community has welcomed the measures taken in the trade policy for year 2006-7 and have termed the establishment of Trade Development Authority (TDA) a step in right direction, as the Export Promotion Bureau (EPB) has failed to come up to the expe
Published 18 Jul, 2006 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 18 Jul, 2006 12:00am
Supreme Court calls reports on deaths caused by gastroenteritis

Supreme Court calls reports on deaths caused by gastroenteritis

The Chief Justice of Pakistan, taking suo motu notice of causalities in Faisalabad due to gastro-enteritis, has called for reports from district Nazim, DCO and MD Wasa Faisalabad within two weeks. The court took this action on a letter written by a social
Published 18 Jul, 2006 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Jul, 2006 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (July 17, 2006).

Published 18 Jul, 2006 12:00am
Thai share prices end 1.30 percent down

Thai share prices end 1.30 percent down

Thai share prices closed 1.30 percent lower on Monday as investors shifted money from the stock market to gold, a safe haven, due to escalating tension in the Middle East, dealers said. They said sentiment was downbeat as oil prices hit records amid escal
Published 18 Jul, 2006 12:00am
China fund investors dump cash for stocks: report

China fund investors dump cash for stocks: report

Chinese investors pulled cash out of money market funds and bought more equity products in the second quarter as mainland markets boomed, a trend that should boost fee income for the fund industry, consultancy Z-Ben Advisors said on Monday.
Published 18 Jul, 2006 12:00am
Jakarta eyes first sovereign Islamic bonds in 2007

Jakarta eyes first sovereign Islamic bonds in 2007

Indonesia is considering issuing its first sovereign Islamic bonds in the first quarter of next year to help plug the 2007 budget deficit, estimated at around 0.9 percent of GDP, finance ministry officials said on Monday.
Published 18 Jul, 2006 12:00am
Jakarta eyes first sovereign Islamic bonds in 2007

Jakarta eyes first sovereign Islamic bonds in 2007

Indonesia is considering issuing its first sovereign Islamic bonds in the first quarter of next year to help plug the 2007 budget deficit, estimated at around 0.9 percent of GDP, finance ministry officials said on Monday.
Published 18 Jul, 2006 12:00am
Malaysian shares sag

Malaysian shares sag

Malaysian share prices closed 1.20 percent lower on Monday, in line with weak regional markets as investors fretted about high oil prices and escalating tensions in the Middle East, dealers said. The Kuala Lumpur Composite Index lost 10.93 points to 902.7
Published 18 Jul, 2006 12:00am
Singapore shares fall

Singapore shares fall

Singapore share prices closed sharply lower on Monday, falling 1.83 percent following Wall Street's falls Friday as oil prices spiked on escalating Middle East violence, dealers said. The Straits Times Index lost 43.35 points at 2,320.20 on volume of 939.
Published 18 Jul, 2006 12:00am
Six powers to meet in bid to save trade round

Six powers to meet in bid to save trade round

Trade ministers from six key trade powers will meet in Geneva late on Monday with World Trade Organisation (WTO) chief Pascal Lamy in a bid to rescue the deeply troubled Doha Round, diplomats and officials said.
Published 18 Jul, 2006 12:00am
China orders cities to spend on cheap homes

China orders cities to spend on cheap homes

China will start requiring local governments to spend 5 percent of their revenues from land sales on subsidised rental housing, continuing a series of reforms to the property sector, state media reported on Monday.
Published 18 Jul, 2006 12:00am
Turkish interest rates to remain steady

Turkish interest rates to remain steady

Turkey's central bank will hold interest rates steady when the country's Monetary Policy Committee (MPC) meets this week, a Reuters poll showed on Monday. The bank raised the borrowing rate by 400 points and the lending rate by 600 basis points in June to
Published 18 Jul, 2006 12:00am
France should reduce government spending: IMF

France should reduce government spending: IMF

France has made important changes in its economy in recent years but should cut government spending and implement further labour market reforms, the International Monetary Fund said on Monday. The economic outlook for the euro zone's second-biggest econom
Published 18 Jul, 2006 12:00am
Hungarian president approves tax rises

Hungarian president approves tax rises

Hungarian President Laszlo Solyom approved government tax hike proposals on Monday, paving the way for rapid improvement in a shaky budget and putting Hungary back on course towards adopting the euro. The move helped the forint firm but analysts said conv
Published 18 Jul, 2006 12:00am
Airbus announces relaunch of A350 jets

Airbus announces relaunch of A350 jets

Crisis-hit planemaker Airbus has announced a radical revamp of its mooted A350 model, setting out a $10 billion plan for three versions instead of two and tossing out a fuselage design it has relied on for decades.
Published 18 Jul, 2006 12:00am
G8 launch bid on trade amid strains on Middle East

G8 launch bid on trade amid strains on Middle East

Group of Eight leaders on Monday launched a fresh bid to pin down an elusive global trade pact, seeking to give a positive outcome to a big-power summit riven by discords over the Middle East.
Published 18 Jul, 2006 12:00am
Eurozone inflation, output point to rate rise

Eurozone inflation, output point to rate rise

Expensive energy kept eurozone inflation well above the European Central Bank's target in June and industrial output jumped in May, data showed on Monday, reinforcing expectations of an ECB interest rate rise on August 3. Consumer prices rose 2.5 percent
Published 18 Jul, 2006 12:00am
General Motors sees 375,000 Corsa sales in 2007

General Motors sees 375,000 Corsa sales in 2007

General Motors Corp expects to sell around 375,000 units of its new Corsa sub-compact in 2007, GM Europe marketing chief Alain Visser told Reuters on Monday.
Published 18 Jul, 2006 12:00am
General Motors sees 375,000 Corsa sales in 2007

General Motors sees 375,000 Corsa sales in 2007

General Motors Corp expects to sell around 375,000 units of its new Corsa sub-compact in 2007, GM Europe marketing chief Alain Visser told Reuters on Monday.
Published 18 Jul, 2006 12:00am
Bank of Portugal raises 2006 growth forecast

Bank of Portugal raises 2006 growth forecast

The Bank of Portugal raised on Monday its 2006 GDP growth forecast to 1.2 percent from 0.8 percent, saying the Portuguese economy would not expand faster because of high personal debt levels and a large budget deficit.
Published 18 Jul, 2006 12:00am
Bank of Portugal raises 2006 growth forecast

Bank of Portugal raises 2006 growth forecast

The Bank of Portugal raised on Monday its 2006 GDP growth forecast to 1.2 percent from 0.8 percent, saying the Portuguese economy would not expand faster because of high personal debt levels and a large budget deficit.
Published 18 Jul, 2006 12:00am
Malaysian palm oil up on exports

Malaysian palm oil up on exports

Malaysian crude palm oil futures closed sharply higher on Monday, boosted by strong exports and higher prices of crude oil, traders said. Exports of Malaysian oil palm products for July 1-15 stood at 520,036 tonnes, up 6.9 percent from 486,593 tonnes ship
Published 18 Jul, 2006 12:00am
Asian rubber: tyre-grade steady

Asian rubber: tyre-grade steady

Asia's rubber prices were mostly steady on Monday, aided by tight supplies in parts of Indonesia and rains in Thailand but overall trading was slow with the Tokyo market closed for a holiday. The market awaited Japanese rubber futures to reopen on Tuesday
Published 18 Jul, 2006 12:00am
Spain seen importing 6.5 million tonnes wheat

Spain seen importing 6.5 million tonnes wheat

Spain's animal feed compounders expect the country will have to import 6.5 million tonnes of wheat this year, to top up its own production, a study showed. That compares with imports of 8 million tonnes in the crop year just ended, when the harvest was ha
Published 18 Jul, 2006 12:00am
Japanese markets closed

Japanese markets closed

All the trading and commercial centres remained closed in Japan on Monday for a public holiday.
Published 18 Jul, 2006 12:00am
China may delay transgenic rice

China may delay transgenic rice

China, the world's top rice producer and consumer, is unlikely to give its nod for commercial production of genetically modified rice at least until next year with a government panel demanding more data to prove its safety.
Published 18 Jul, 2006 12:00am
Indian sugar and wheat futures rise, soyoil drops

Indian sugar and wheat futures rise, soyoil drops

Indian sugar futures rose on Monday on short-covering ahead of monthly settlement later this week, and after the farm minister said a ban on exports may be lifted by October. Wheat rose after a top weather department official said monsoon rains were not v
Published 18 Jul, 2006 12:00am
EU again target farm subsidies

EU again target farm subsidies

European farmers receiving very large or very small EU subsidies might see their payments squeezed from a few years' time as part of the next review of EU agricultural policy, the bloc's farm chief said on Monday.
Published 18 Jul, 2006 12:00am
Asian gas oil contango widens on surplus

Asian gas oil contango widens on surplus

Asian oil product swaps slipped on Monday, and gas oil's contango deepened further in the face of limited arbitrage opportunities despite growing supplies. August gas oil fell $88.80 a barrel from $89.30 on Friday, with the August/September contango widen
Published 18 Jul, 2006 12:00am
Alcotexa sells 205 tonnes of cotton

Alcotexa sells 205 tonnes of cotton

The Alexandria Cotton Exporters' Association (Alcotexa) said on Monday it had committed to sell 205 tonnes of cotton in the week which ended on July 15. Alcotexa figures showed commitments to sell 50 tonnes of Giza 88 and 155 tonnes of Giza 86.
Published 18 Jul, 2006 12:00am
Oil on rise toward $78 after Middle East violence

Oil on rise toward $78 after Middle East violence

Oil pushed toward record highs on Monday after a weekend of worsening conflict between Israel and Hizbollah guerrillas unnerved traders who fear the violence could escalate and spread across the oil-producing Middle East.
Published 18 Jul, 2006 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin ended $30 a tonne lower on Monday despite higher prices on the London Metal Exchange due to technical correction, one dealer said.
Published 18 Jul, 2006 12:00am
Gold hits two-month high on Middle East crisis

Gold hits two-month high on Middle East crisis

Gold climbed to its highest level in almost two months on Monday as tensions escalated in the Middle East and ignited safe-haven buying. The metal also defied a firm dollar and found support from crude oil, which moved towards record highs above $78 a bar
Published 18 Jul, 2006 12:00am
Shanghai copper rises with LME

Shanghai copper rises with LME

Shanghai copper prices rose on Monday, tracking gains above the $8,000 mark on the London Metal Exchange and amid low stocks, while nickel edged up closer to the record it hit last week. Key three-month LME copper was at $8,085/$8,115 per tonne by 0737 GM
Published 18 Jul, 2006 12:00am
Australia wheat exports face squeeze despite rain

Australia wheat exports face squeeze despite rain

Good weekend rain across eastern Australia has lessened the threat to the country's 2006/07 wheat exports, but very dry conditions still have the potential to put a squeeze on supplies to world markets, farmers said on Monday.
Published 18 Jul, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 134,857 tonnes of cargo including 115,214 tonnes import, 19,643 tonnes export cargo and 3,679 containers during last 48 hours ending at 0700 hours on Monday.
Published 18 Jul, 2006 12:00am
Singapore bunker fuel prices stable

Singapore bunker fuel prices stable

Singapore bunker prices were stable on Monday but their differential to fuel oil cargoes was slumped in a discount, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $349-351 a tonne, unchanged from Friday's Asian close, while its d
Published 18 Jul, 2006 12:00am
Moong, oilcake sharply up on grain market

Moong, oilcake sharply up on grain market

A few changes were seen on the grain market on Monday as buyers did some to make up their early requirements, dealers said. On the cereals side, Moong Punjab gained Rs 100 to Rs 4650, moong from Burma followed suit and picked up Rs 250 to Rs 4500 due to t
Published 18 Jul, 2006 12:00am
Milk powder up on Jodia Bazar

Milk powder up on Jodia Bazar

The trading in milk powder sector ended up on Jodia Bazar here on Monday. The following changes were noted: Amul (India), per bag of 25 kg, ended higher by Rs 50 at Rs 4,350, Euro Gold closed up by Rs 25 at Rs 4,525 and Corolac finished up by Rs 25 at Rs
Published 18 Jul, 2006 12:00am
Asia dirty freights hit five-month peak

Asia dirty freights hit five-month peak

Asia-bound crude and fuel oil tanker costs have jumped about 37 percent since early July, hitting a new five-month peak on mounting Middle East tensions and strong global oil prices, industry sources said on Monday.
Published 18 Jul, 2006 12:00am
Cargo handling at Bangladesh port up

Cargo handling at Bangladesh port up

Cargo handling at Bangladesh's main Chittagong port rose 7.0 percent to nearly 26.10 million tonnes in 2005-06 (July-June) from the previous fiscal year, port officials said on Monday. The figure combining both container and bulk cargoes, included 23.17 m
Published 18 Jul, 2006 12:00am
India gets four bids for wheat tender

India gets four bids for wheat tender

India's state-run MMTC Ltd has received just four bids in response to its tender for the purchase of up to 50,000 tonnes of wheat, traders said on Monday. The four bidders are Singapore-based Adani Global, Hungary-based W.J. Grain, Agrico Switzerland and
Published 18 Jul, 2006 12:00am
HRW wheat bids steady

HRW wheat bids steady

US hard red winter wheat spot basis bids were steady on Monday, with export demand slow and domestic mills well covered. Protein premiums for railcar wheat to and through Kansas City dropped 5 cents a bushel for 12.00-14.00 percent protein wheat supplies
Published 18 Jul, 2006 12:00am
Ukraine harvests 5.126 million tonnes grain

Ukraine harvests 5.126 million tonnes grain

Ukrainian farms have harvested 5.126 million tonnes of grain from 1.990 million hectares or 16 percent of the total sown area so far 2006, the Agriculture Ministry said on Monday. It said grain yields averaged 2.58 tonnes per hectares. The ministry gave n
Published 18 Jul, 2006 12:00am
US exporters sell corn to Japan and Egypt

US exporters sell corn to Japan and Egypt

Private exporters reported the sale of corn to Japan and Egypt, the US Agriculture Department said on Monday. USDA said exporters reported the sale of 100,000 tonnes of corn to Egypt during 2005/06. Separately, exporters reported the sale of 62,960 tonnes
Published 18 Jul, 2006 12:00am
Italy seen to import more olive oil

Italy seen to import more olive oil

Italy is likely to have to import more olive oil this year to counter a short national harvest and growing international demand for its own exports, an industry spokesman said.
Published 18 Jul, 2006 12:00am
Iraq plans new tender system to cap prices

Iraq plans new tender system to cap prices

Iraq plans to tender every two weeks for small quantities of wheat, rice and other commodities in order to avoid pushing up prices, Trade Minister Abdul Falah al-Sudany said on Monday. The country also plans to boost storage capacity, he said.
Published 18 Jul, 2006 12:00am
Physical sugar business thin as Middle East rages

Physical sugar business thin as Middle East rages

Cash sugar trade has slowed to a crawl due to ample nearby supplies while the trade closely monitors fighting between Israel and Islamic militants, brokers said Monday.
Published 18 Jul, 2006 12:00am
Musharraf for bringing laws in conformity with Quran, Sunnah

Musharraf for bringing laws in conformity with Quran, Sunnah

President Pervez Musharraf has stressed upon the need for bringing laws in conformity with Quran and Sunnah to ensure dignity and honour of the people, provide greater relief to them and ensure the removal of injustices from the society.
Published 18 Jul, 2006 12:00am
Indonesian rice output on track despite drought

Indonesian rice output on track despite drought

Indonesia's rice output will be on target although drought has affected thousands of hectares of rice fields, a senior government official said on Monday. Between January and July 2006, drought has affected 59,126 hectares of paddy fields and some 1,616 h
Published 18 Jul, 2006 12:00am