News Archives for Print - 2006-07-26

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (July 25, 2006).

Published 26 Jul, 2006 12:00am

ISE: bulls stage comeback

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) as major players and short-term margin hunters injected fresh investment in hot favourite amid increase in index. ISE Ten index was plus by 29.78 points, as the index moved from 2,73

Published 26 Jul, 2006 12:00am

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm

Published 26 Jul, 2006 12:00am

Mixed trend prevails on LSE

Mixed trend prevailed on Lahore Stock Exchange (LSE) where equities eroded values amid ascending transaction volume on account of institutional profit taking. The LSE index improved by 54.52 points, closing at 4637.15 against 4582.63 while trading turnove

Published 26 Jul, 2006 12:00am

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d

Published 26 Jul, 2006 12:00am

Mixed trend prevails on LSE

Mixed trend prevailed on Lahore Stock Exchange (LSE) where equities eroded values amid ascending transaction volume on account of institutional profit taking. The LSE index improved by 54.52 points, closing at 4637.15 against 4582.63 while trading turnove

Published 26 Jul, 2006 12:00am

Karachi interbank rates

Karachi interbank rates on Tuesday (July 25, 2006).

Published 26 Jul, 2006 12:00am

SCRAs plummet to $5 million

Massive withdrawals by USA and UK, amounting to some $9.8 million, on July 24 forced the Special Convertible Rupee Accounts (SCRAs) to dip down to a little over $5 million. The SCRAs had earlier jumped to $19.4 million on July 18 after posting successive

Published 26 Jul, 2006 12:00am

Aaj TV - Wednesday's schedule

All timings are in PST (Pakistan Standard Time).

Published 26 Jul, 2006 12:00am

SCRAs plummet to $5 million

Massive withdrawals by USA and UK, amounting to some $9.8 million, on July 24 forced the Special Convertible Rupee Accounts (SCRAs) to dip down to a little over $5 million. The SCRAs had earlier jumped to $19.4 million on July 18 after posting successive

Published 26 Jul, 2006 12:00am

Message from CEO, Sitara Chemical Industries

God has once again given us an opportunity to adopt Islamic financing modules & instruments. Now Alhamdulillah we have successfully signed an agreement regarding Islamic SUKUK of Rs 1100 Million for our BMR Membrane-II plant having capacity of 210 MT/Day

Published 26 Jul, 2006 12:00am

SCRAs plummet to $5 million

Massive withdrawals by USA and UK, amounting to some $9.8 million, on July 24 forced the Special Convertible Rupee Accounts (SCRAs) to dip down to a little over $5 million. The SCRAs had earlier jumped to $19.4 million on July 18 after posting successive

Published 26 Jul, 2006 12:00am

Message from Chairman, Sitara Group of Industries

I bow my head to Almighty Allah, the glorious, who has graciously given us guidance and wisdom for making efforts towards Riba free financing arrangement. Though in the given circumstances, it seems that this is costlier than traditional financing arrange

Published 26 Jul, 2006 12:00am

IPI gas pipeline talks in Delhi from August 3-4

The third meeting of the tripartite secretary-level working group on the IPI gas pipeline project would be held on August 3 to 4 in New Delhi to discuss price of the gas. Official sources in the Ministry of Petroleum and Natural Resources confirmed on Tue

Published 26 Jul, 2006 12:00am

Grain exports from Rouen port

Grain exports from the French port of Rouen totalled 182,782 tonnes for July 1-19, comprising 155,048 tonnes of wheat and 27,734 tonnes of barley, port officials said on Tuesday. That compared with total grain exports of 283,000 tonnes in the whole of Jul

Published 26 Jul, 2006 12:00am

IPI gas pipeline talks in Delhi from August 3-4

The third meeting of the tripartite secretary-level working group on the IPI gas pipeline project would be held on August 3 to 4 in New Delhi to discuss price of the gas. Official sources in the Ministry of Petroleum and Natural Resources confirmed on Tue

Published 26 Jul, 2006 12:00am

Suez Canal revenues up in June

Egypt's revenues from the Suez Canal climbed to $318.1 million in June 2006 from $280.4 million in June last year, the cabinet said in a bulletin on its Web site on Tuesday. The number of vessels passing through the waterway fell to 1,534 in June from 1,5

Published 26 Jul, 2006 12:00am

IPI gas pipeline talks in Delhi from August 3-4

The third meeting of the tripartite secretary-level working group on the IPI gas pipeline project would be held on August 3 to 4 in New Delhi to discuss price of the gas. Official sources in the Ministry of Petroleum and Natural Resources confirmed on Tue

Published 26 Jul, 2006 12:00am

Singapore bunker fuel prices recover

Singapore bunker prices recovered on Tuesday, but the higher values hampered demand, forcing its differential to fuel oil cargo levels into discounts, traders said.

Published 26 Jul, 2006 12:00am

BRIndex30 loses 12.68 points

The BRIndex30 registered a negative change of -12.68 on Tuesday, opening at 10,953.11 with a jump gap of 48.31 and closing at 10,892.12. For most of the trading day it remained in the green zone, falling only in the last 15 minutes, or so. The BRIndex30 m

Published 26 Jul, 2006 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 45,856 tonnes of cargo including 42,474 tonnes import, 3,382 tonnes export cargo and 826 containers during last 24 hours ending at 0700 hours on Tuesday.

Published 26 Jul, 2006 12:00am

BRIndex30 loses 12.68 points

The BRIndex30 registered a negative change of -12.68 on Tuesday, opening at 10,953.11 with a jump gap of 48.31 and closing at 10,892.12. For most of the trading day it remained in the green zone, falling only in the last 15 minutes, or so. The BRIndex30 m

Published 26 Jul, 2006 12:00am

Ivorian cocoa prices fall

Farmgate prices in Ivory Coast's cocoa growing regions fell from July 17 to 23, Coffee and Cocoa Bourse (BCC) data showed on Tuesday, as middlemen who have met seasonal buying targets ease off the search for beans.

Published 26 Jul, 2006 12:00am

KSE index gains 50 points

The share market on Tuesday opened on a positive note and hit the intra-day high of 10437.51 points. Volatility was the salient feature of the day where index moved both ways. Profit booking, especially in banking and cement stocks, minimised the day''s g

Published 26 Jul, 2006 12:00am

UK sugar beet progresses well in hot weather

UK beet plants are progressing well in hot weather before a harvest from late September or early October that should produce some 1.2-1.3 million tonnes of sugar, a British Sugar official said on Tuesday. "We've been quite impressed," Robin Limb, agricult

Published 26 Jul, 2006 12:00am

KSE index gains 50 points

The share market on Tuesday opened on a positive note and hit the intra-day high of 10437.51 points. Volatility was the salient feature of the day where index moved both ways. Profit booking, especially in banking and cement stocks, minimised the day's ga

Published 26 Jul, 2006 12:00am

EU importing more soyaoil for biodiesel

European Union soyaoil imports are rising sharply largely because of biodiesel demand and South American suppliers are the main winners, Hamburg-based oilseeds analysts Oil World said.

Published 26 Jul, 2006 12:00am

KSE index gains 50 points

The share market on Tuesday opened on a positive note and hit the intra-day high of 10437.51 points. Volatility was the salient feature of the day where index moved both ways. Profit booking, especially in banking and cement stocks, minimised the day's ga

Published 26 Jul, 2006 12:00am

Bangladesh tea prices rise

The average price of Bangladesh teas rose up slightly to 98.35 taka ($1.41) per kg following competition among buyers at a weekly auction on Tuesday, brokers said.

Published 26 Jul, 2006 12:00am

Cabinet rejects 27-member TDAP board

The federal cabinet has rejected 27-member board for the Trade Development Authority of Pakistan (TDAP), saying that it was too crowded and may in reality retard rather than accelerate the mechanism of trade maximisation, the sources in the Commerce Minis

Published 26 Jul, 2006 12:00am

Kenyan coffee prices higher

Kenya's coffee prices rose on aggressive buying by exporters ahead of a month-long seasonal break that starts next month, the Nairobi Coffee Exchange (NCE) said on Tuesday. The average price for Tuesday's auction was $103.15 per 50-kg bag compared with $8

Published 26 Jul, 2006 12:00am

Cabinet rejects 27-member TDAP board

The federal cabinet has rejected 27-member board for the Trade Development Authority of Pakistan (TDAP), saying that it was too crowded and may in reality retard rather than accelerate the mechanism of trade maximisation, the sources in the Commerce Minis

Published 26 Jul, 2006 12:00am

HRW wheat bids steady to firmer

US hard red winter wheat spot basis bids were steady to firmer Tuesday, with wheat sales out of the country seen slowing amid a setback in futures prices, merchants said. "Since the board dropped off the selling stopped quite a bit," said one Kansas wheat

Published 26 Jul, 2006 12:00am

Cabinet rejects 27-member TDAP board

The federal cabinet has rejected 27-member board for the Trade Development Authority of Pakistan (TDAP), saying that it was too crowded and may in reality retard rather than accelerate the mechanism of trade maximisation, the sources in the Commerce Minis

Published 26 Jul, 2006 12:00am

FOB Gulf corn rises; soyabean and wheat steady

US FOB Gulf corn basis offers rose on Monday, supported by a resurgence in export demand and little country movement, while soyabeans and wheat held steady, traders said.

Published 26 Jul, 2006 12:00am

Back date duty exemption: CBR to obtain law ministry ruling

The Central Board of Revenue (CBR) will obtain ruling from Ministry of Law on the powers of customs officials to issue exemption of duties/taxes with retrospective effect under section 20 of the Customs Act, 1969.

Published 26 Jul, 2006 12:00am

Corn up on short-covering

A light amount of short-covering after the drop late last week to one-month lows boosted Chicago Board of Trade corn futures to a firm close on Monday, traders said. Gains in the soyabean market also led to some spillover speculative buying of corn future

Published 26 Jul, 2006 12:00am

Back date duty exemption: CBR to obtain law ministry ruling

The Central Board of Revenue (CBR) will obtain ruling from Ministry of Law on the powers of customs officials to issue exemption of duties/taxes with retrospective effect under section 20 of the Customs Act, 1969.

Published 26 Jul, 2006 12:00am

CBOT wheat futures lower

Wheat futures at the Chicago Board of Trade fell on Monday in a profit-taking setback from last week's advances, led by long liquidation in the Minneapolis and Kansas City markets, traders said. Some floor talk of better than expected yields in the early

Published 26 Jul, 2006 12:00am

Back date duty exemption: CBR to obtain law ministry ruling

The Central Board of Revenue (CBR) will obtain ruling from Ministry of Law on the powers of customs officials to issue exemption of duties/taxes with retrospective effect under section 20 of the Customs Act, 1969.

Published 26 Jul, 2006 12:00am

Oil cake market rates

Mixed pattern was seen on the forward cottonseed oilcake market on Tuesday as many buyers kept on the sidelines owing to rising trend in the prices, dealers said.

Published 26 Jul, 2006 12:00am

Rajab moon to be sighted today

The new moon will be sighted today (Wednesday), and the first of Rajab 1427 AH will thus fall on Thursday. According to astronomical parameters, there is a good chance of sighting the Rajab moon today. The moon crossed the conjunction line yesterday (Tues

Published 26 Jul, 2006 12:00am

No deal in ready seen on cotton market

No business in ready was seen on the cotton market on Tuesday as main participants were on sidelines to analyse the future direction of prices after rains, dealers said. The official spot rate was unchanged at Rs 2500, without upcountry expenses.

Published 26 Jul, 2006 12:00am

Rajab moon to be sighted today

The new moon will be sighted today (Wednesday), and the first of Rajab 1427 AH will thus fall on Thursday. According to astronomical parameters, there is a good chance of sighting the Rajab moon today. The moon crossed the conjunction line yesterday (Tues

Published 26 Jul, 2006 12:00am

Kirana items mixed on Jodia Bazar

The trading in Kirana items moved both ways on Jodia Bazar here, on Tuesday. The following variations were noted. Mace ended upward by Rs 100 at Rs 22,500, nutmeg closed down by Rs 200 at Rs 8,000, big cardamom finished higher by Rs 200 at Rs 9,600.

Published 26 Jul, 2006 12:00am

FED on foreign travel clarified

The fixed amount of federal excise duty (FED) would be charged on all tickets issued either directly by the airlines or through their agents for the international journey starting/originating from anywhere in Pakistan, whether such tickets are issued in P

Published 26 Jul, 2006 12:00am

Prices move both ways on grain market

Modest trading was seen on the grain market on Tuesday as grams prices turned higher due to tight supplies from the upcountry centres, dealers said. On the grams side, gram Garda punjab picked up Rs 50 to Rs 3025-3100,Gram Dal garda Punjab followed suit a

Published 26 Jul, 2006 12:00am

FED on foreign travel clarified

The fixed amount of federal excise duty (FED) would be charged on all tickets issued either directly by the airlines or through their agents for the international journey starting/originating from anywhere in Pakistan, whether such tickets are issued in P

Published 26 Jul, 2006 12:00am

New York coffee closes with steep losses

New York arabica coffee futures closed on Monday with steep losses, falling to levels last traded in early November, as funds continued their pattern of bailing out uncontested near session's end.

Published 26 Jul, 2006 12:00am

FED on foreign travel clarified

The fixed amount of federal excise duty (FED) would be charged on all tickets issued either directly by the airlines or through their agents for the international journey starting/originating from anywhere in Pakistan, whether such tickets are issued in P

Published 26 Jul, 2006 12:00am

MGE wheat lower on liquidation

Spring wheat futures at the Minneapolis Grain Exchange declined on Monday as funds took profits by liquidating long positions after advances late last week, traders said. Some floor talk of better-than-expected yields in the early US spring wheat harvest

Published 26 Jul, 2006 12:00am

Holding board meetings abroad: SBP prescribes conditions for banks

The State Bank of Pakistan (SBP) has decided that banks incorporated in Pakistan having foreign participation/equity can hold board meetings abroad in the following manner in a calendar year. Banks having more than 51 percent foreign shareholding can hold

Published 26 Jul, 2006 12:00am

NYBOT cotton stocks fall

Certificated cotton stocks deliverable against New York Board of Trade's No 2 cotton futures contract as of July 21 totalled 622,146 (480-lb) bales, from 649,747 bales the previous session. There were 845 bales issued, 622 bales awaiting review and 5,000

Published 26 Jul, 2006 12:00am

Holding board meetings abroad: SBP prescribes conditions for banks

The State Bank of Pakistan (SBP) has decided that banks incorporated in Pakistan having foreign participation/equity can hold board meetings abroad in the following manner in a calendar year. Banks having more than 51 percent foreign shareholding can hold

Published 26 Jul, 2006 12:00am

New York cocoa continues slide

US cocoa futures finished lower on Monday after continued speculative selling and the market may come under renewed pressure over the next few sessions, market sources said. "There's scale-down trade and manufacture buying (but the) specs continue to liqu

Published 26 Jul, 2006 12:00am

Holding board meetings abroad: SBP prescribes conditions for banks

The State Bank of Pakistan (SBP) has decided that banks incorporated in Pakistan having foreign participation/equity can hold board meetings abroad in the following manner in a calendar year. Banks having more than 51 percent foreign shareholding can hold

Published 26 Jul, 2006 12:00am

Drought to hit Finnish grain harvest

The total grain harvest in Finland this year is expected to drop by around one third due to prolonged drought, main industry body ProAgria said on Tuesday. "We are talking about estimated harvest losses of 30-40 percent," researcher Sari Peltonen of ProAg

Published 26 Jul, 2006 12:00am

Prime Minister to inaugurate TDM Centre on July 29

Prime Minister Shaukat Aziz will inaugurate on July 29 the first Tools, Dies and Moulds (TDM) Centre, set up in Karachi to enhance indigenous production of these products to save annual import bill of about $11 million.

Published 26 Jul, 2006 12:00am

Malaysian palm exports up

Exports of Malaysian oil palm products for July 1-25 stood at 954,687 tonnes, up 12.4 percent from 849,560 tonnes shipped between June 1 and 25, cargo surveyor Societe General de Surveillance said on Tuesday. SGS said the estimate comprised 871,745 tonnes

Published 26 Jul, 2006 12:00am

UK police charge three with murder of Pakistani origin man

Police charged three men with murder on Tuesday following the death of a British-born man of Pakistani origin in a mass street fight in Preston, north-west England. Shezan Umarji, 20, a bank worker and business student, was stabbed in the brawl between ar

Published 26 Jul, 2006 12:00am

December coffee seen at $1.35-1.50 per pound: analyst

Tight supplies and dwindling stocks of both Arabica and Robusta will continue to pressure the coffee market, a top analyst said on Monday. Unless the 2007/08 Brazil coffee crop comes in at the high end of predictions, December contracts on the New York Bo

Published 26 Jul, 2006 12:00am

President and Jordanian king discuss Lebanon crisis

President General Pervez Musharraf on Tuesday discussed the Lebanon crisis with King Abdullah of Jordan on telephone. During the telephonic conversation, President Musharraf and King Abdullah exchanged views on the latest situation of Lebanon.

Published 26 Jul, 2006 12:00am

Brazil soya industry boycotts beans from the Amazon

Brazilian soy crushers and exporters will stop buying soybeans grown in the Amazon basin for the time being, industry groups said on Monday, bowing to pressure from activist groups trying to preserve the rain forest.

Published 26 Jul, 2006 12:00am

President and Jordanian king discuss Lebanon crisis

President General Pervez Musharraf on Tuesday discussed the Lebanon crisis with King Abdullah of Jordan on telephone. During the telephonic conversation, President Musharraf and King Abdullah exchanged views on the latest situation of Lebanon.

Published 26 Jul, 2006 12:00am

Comex copper ends firm

COMEX copper futures rebounded from new three-week lows to settle just off their session highs on Monday as bargain buyers and short-covering boosted prices while threats of a strike at Chile's Escondida still loomed over the market, sources said.

Published 26 Jul, 2006 12:00am

Israeli troops enter Hizbollah stronghold

Israeli troops entered the border town of Bint Jbeil, a Hizbollah military stronghold, for the first time on late Tuesday as they pushed deeper into Lebanese territory, a UN spokesman said. The Israeli army entered the border town following a day of fierc

Published 26 Jul, 2006 12:00am

Tokyo gold climbs from two-week low

Tokyo gold futures bounced back from a two-week low on Tuesday on buying spurred by a recovery in the spot gold price, but traders were cautious about the strength of the rebound.

Published 26 Jul, 2006 12:00am

Israeli troops enter Hizbollah stronghold

Israeli troops entered the border town of Bint Jbeil, a Hizbollah military stronghold, for the first time on late Tuesday as they pushed deeper into Lebanese territory, a UN spokesman said. The Israeli army entered the border town following a day of fierc

Published 26 Jul, 2006 12:00am

New York gold tumbles

Gold futures in New York fell sharply on Monday but managed to close above earlier three-week lows as investors ditched positions amid a rallying dollar and talk of a possible cease-fire in Lebanon, dealers said.

Published 26 Jul, 2006 12:00am

Planning Commission assigned role of think tank

Prime Minister Shaukat Aziz, chairing the second meeting of the Planning Commission here on Tuesday, assigned the Planning Commission the role of a think tank and tasked it to prepare ''Vision 2030'' to make Pakistan a developed industrial state, having m

Published 26 Jul, 2006 12:00am

Gold rebounds after sell-off

Gold bounced back on Tuesday as buying emerged after the metal held above a key level of $600 an ounce despite a heavy sell-off the previous day, but a firm US dollar was likely to pare gains.

Published 26 Jul, 2006 12:00am

Planning Commission assigned role of think tank

Prime Minister Shaukat Aziz, chairing the second meeting of the Planning Commission here on Tuesday, assigned the Planning Commission the role of a think tank and tasked it to prepare 'Vision 2030' to make Pakistan a developed industrial state, having mod

Published 26 Jul, 2006 12:00am

Ukraine sunoil exports seen at 1.42 million tonnes

Ukraine's UkrAgroConsult agriculture consultancy on Tuesday revised its sunflower oil export forecast upward by 20 percent to 1.415 million tonnes for the 2006/07 season from the previous outlook of 1.180 million.

Published 26 Jul, 2006 12:00am

Planning Commission assigned role of think tank

Prime Minister Shaukat Aziz, chairing the second meeting of the Planning Commission here on Tuesday, assigned the Planning Commission the role of a think tank and tasked it to prepare 'Vision 2030' to make Pakistan a developed industrial state, having mod

Published 26 Jul, 2006 12:00am

Oil firm over $75 on Middle East

Oil rose further above $75 a barrel on Tuesday as dealers saw little hope for a quick end to the conflict in Lebanon and refinery outages threatened to tighten supplies in the midst of the US summer driving season. US crude for September rose 37 cents to

Published 26 Jul, 2006 12:00am

Consistent economic policies to ensure foreign investment: Musharraf inaugurates palm oil refinery

President General Pervez Musharraf on Tuesday inaugurated the $14 million MAPAK Edible Oil Refinery set up under a joint venture between Westbury Group of Company, Pakistan and FELDA of Malaysia palm oil refinery in Karachi.

Published 26 Jul, 2006 12:00am

Asian fuel oil prices rebound

Asian fuel oil prices rebounded on Tuesday, snapping a six-day losing streak, but crack spreads fell below minus $15 for the first time in five sessions on increasingly heavy inflows and low demand.

Published 26 Jul, 2006 12:00am

Consistent economic policies to ensure foreign investment: Musharraf inaugurates palm oil refinery

President General Pervez Musharraf on Tuesday inaugurated the $14 million MAPAK Edible Oil Refinery set up under a joint venture between Westbury Group of Company, Pakistan and FELDA of Malaysia palm oil refinery in Karachi.

Published 26 Jul, 2006 12:00am

Asian gasoil/jet higher

Asian middle distillate prices trended higher on Tuesday in tandem with crude, but gas oil's swaps contango widened amid rising South Korean exports despite a flush of physical trades.

Published 26 Jul, 2006 12:00am

Consistent economic policies to ensure foreign investment: Musharraf inaugurates palm oil refinery

President General Pervez Musharraf on Tuesday inaugurated the $14 million MAPAK Edible Oil Refinery set up under a joint venture between Westbury Group of Company, Pakistan and FELDA of Malaysia palm oil refinery in Karachi.

Published 26 Jul, 2006 12:00am

New York sugar up

Raw sugar prices closed higher on Monday on buying by small speculators in quiet dealings and the market could stay in a band this week due to a dearth of leads, brokers said.

Published 26 Jul, 2006 12:00am

Soya closes firm on bounce, weather forecast

Chicago Board of Trade soybean futures ended higher on Monday, rebounding from last week's dive to a one-month low as forecasts called for hotter, drier weather in early August as the crop moves into its critical growing phase, traders said.

Published 26 Jul, 2006 12:00am

Indian wheat and soya oil rise

Indian wheat futures rose slightly on Tuesday on tight supplies despite a few traders releasing quantities of stored grain into the market. Soyoil and sugar were also up ahead of Hindu festivals next month, when consumption of sweets, confectionaries and

Published 26 Jul, 2006 12:00am

CBOT rice weak

Rough rice futures at the Chicago Board of Trade closed lower Monday, setting back from Friday's firm close, traders said. September rice settled 3-1/2 cents lower at $9.41-1/2 per hundredweight. New-crop November closed 2-1/2 cents weaker at $9.67-1/2.

Published 26 Jul, 2006 12:00am

Asian rubber: Tokyo futures down

The most active contract in Japanese rubber futures dropped nearly 2 percent on Tuesday, extending losses that followed talks of an improving supply in producing countries in Asia.

Published 26 Jul, 2006 12:00am

Malaysian palm oil higher on exports

Malaysian crude palm oil futures closed higher on Tuesday, fuelled by improved export performance and higher prices of rival soyoil. Exports of Malaysian palm products for July 1-25 stood at 968,714 tonnes, up 7.4 percent from the 901,923 tonnes shipped b

Published 26 Jul, 2006 12:00am

Yahoo and Symantec unveil consumer Internet service

Yahoo Inc and Symantec Corp unveiled a joint consumer Internet security service on Monday that will help the two companies compete against major rivals such as Google Inc and Microsoft Corp.

Published 26 Jul, 2006 12:00am

Fiat and Tata sign venture deal in India

Italian car giant Fiat announced on Tuesday a co-operation deal with Indian manufacturer Tata to produce cars, engines and gearboxes at Tata's Ranjangaon plants in India. Fiat and Tata would also examine possible expansion in Latin America.

Published 26 Jul, 2006 12:00am

Nigeria and Shell sign $6 billion gas project

The state-run Nigerian National Petroleum Corporation (NNPC) and Anglo-Dutch oil giant Shell have signed a six billion dollar liquefied natural gas (LNG) project, expected to come on stream in 2011, an official statement said Tuesday.

Published 26 Jul, 2006 12:00am

German inflation data offer no respite to ECB

German inflation harmonised to European Union standards (HICP) rose unexpectedly this month, suggesting inflationary pressure in the euro zone is still much higher than the European Central Bank would like.

Published 26 Jul, 2006 12:00am

AT&T posts higher profit

AT&T Inc, US largest phone company, posted a better-than-expected rise in quarterly profit on Tuesday, bolstered by strong growth in its Cingular Wireless joint venture and high-speed Internet services. AT&T shares rose 4 percent after the results, which

Published 26 Jul, 2006 12:00am

AT&T posts higher profit

AT&T Inc, US largest phone company, posted a better-than-expected rise in quarterly profit on Tuesday, bolstered by strong growth in its Cingular Wireless joint venture and high-speed Internet services. AT&T shares rose 4 percent after the results, which

Published 26 Jul, 2006 12:00am

McDonald's profit up

McDonald's Corp on Tuesday said it will sell its remaining stake in Chipotle Mexican Grill Inc by the end of October to focus on its hamburger restaurants, where new menu items and World Cup promotions helped drive a 57 percent rise in quarterly profit.

Published 26 Jul, 2006 12:00am

McDonald's profit up

McDonald's Corp on Tuesday said it will sell its remaining stake in Chipotle Mexican Grill Inc by the end of October to focus on its hamburger restaurants, where new menu items and World Cup promotions helped drive a 57 percent rise in quarterly profit.

Published 26 Jul, 2006 12:00am

World could handle Iranian oil cut-off: US official

The world could handle a cutoff in oil exports from Iran, a US State Department official said on Tuesday. "We do have capabilities in place to handle a potential shut-off of these flows should they occur," said Paul Simons, deputy assistant secretary for

Published 26 Jul, 2006 12:00am

US consumer confidence, home sales beat forecasts

US consumer confidence rose unexpectedly in July and existing homes sales fell less than forecast in June, reports showed on Tuesday, boosting market expectations for an August rate hike by the Federal Reserve.

Published 26 Jul, 2006 12:00am

Lockheed Martin profit up

Lockheed Martin Corp on Tuesday posted a greater-than-expected 26 percent increase in profit and raised its full-year forecast, as the No 1 defence contractor increased sales of commercial satellites and benefited from lower pension costs.

Published 26 Jul, 2006 12:00am

Lockheed Martin profit up

Lockheed Martin Corp on Tuesday posted a greater-than-expected 26 percent increase in profit and raised its full-year forecast, as the No 1 defence contractor increased sales of commercial satellites and benefited from lower pension costs.

Published 26 Jul, 2006 12:00am

Petrol pumps run dry as union strikes in Sri Lanka

Petrol pumps across Sri Lanka ran dry on Tuesday as state petroleum transport workers went on strike, fearing the government is planning to privatise the state fuel distribution and storage arm.

Published 26 Jul, 2006 12:00am

Yukos close to death as creditors choose bankruptcy

Yukos's creditors voted on Tuesday for the stricken Russian oil firm to be declared bankrupt and rejected a plan proposed by its owners to prevent its demise. "It's deader than a doornail. There's going to be nothing left. It's going to be sold in pieces,

Published 26 Jul, 2006 12:00am

Currency	Rate
USD PKR Interbank Selling / Oct 21	277.82
USD PKR Interbank Buying / Oct 21	277.60
USD to Japanese Yen / Oct 22	150.86
USD to Swiss Franc / Oct 22	0.87
Pound Sterling to USD / Oct 22	1.30
Euro to USD / Oct 22	1.08

Stock	Volume
S&P 500 / Oct 21	5,853.98
Nasdaq / Oct 21	18,540.01
FTSE 100 / Oct 21	8,318.24
Dow Jones / Oct 21	42,931.60
Germany DAX 30 / Oct 21	19,461.19
France CAC40 / Oct 21	7,536.23
India Sensex / Oct 22	80,819.52
Tokyo Nikkei / Oct 22	38,436.98

Item	Value
Gold 10 Grams PKR / Oct 21	242,027
Crude Oil USD/Barrel / Oct 22	70.33
Karachi Cotton PKR/37.32 KG / Oct 22	18,085
Gold Spot USD/Ounce / Oct 22	2,734.40
Cotton US¢/pound / Oct 22	72.21
Petrol/Litre / Oct 23	247.03

Stock	Price
786 Invest Ltd / Oct 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Oct 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Oct 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Oct 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Oct 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Oct 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Oct 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Oct 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Oct 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Oct 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Oct 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Oct 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Oct 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Oct 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Oct 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Oct 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Oct 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Oct 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Oct 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Oct 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Oct 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Oct 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Oct 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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