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Print - 2006-08-02
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (August 01, 2006).

Published 02 Aug, 2006 12:00am
Edible oil crisis worsens as world palm oil prices surge

Edible oil crisis worsens as world palm oil prices surge

Palm oil prices in the international market shot up by $35 per ton during the last week, deteriorating further the ongoing edible oil crisis that had been deepened in the domestic market in the wake of widening gap between demand and supply, sources told
Published 02 Aug, 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 Tuesday (August 01, 2006).

Published 02 Aug, 2006 12:00am
CCI meeting unlikely today

CCI meeting unlikely today

The Council of Common Interests (CCI) will not meet here on Wednesday as its chairman Prime Minister Shaukat Aziz is leaving for Malaysia to attend emergency summit session of the Organisation of Islamic Conference (OIC) called to review the situation ari
Published 02 Aug, 2006 12:00am
Barclays bid rates and maximum rates for payment of interest

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 02 Aug, 2006 12:00am
CCI meeting unlikely today

CCI meeting unlikely today

The Council of Common Interests (CCI) will not meet here on Wednesday as its chairman Prime Minister Shaukat Aziz is leaving for Malaysia to attend emergency summit session of the Organisation of Islamic Conference (OIC) called to review the situation ari
Published 02 Aug, 2006 12:00am
State Bank of Pakistan conversion rates

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 02 Aug, 2006 12:00am
PPAF pledges Rs 4.2 billion more to alleviate poverty

PPAF pledges Rs 4.2 billion more to alleviate poverty

The Pakistan Poverty Alleviation Fund (PPAF) has committed an additional Rs 4.2 billion ($70 million) for poverty alleviation in Pakistan. PPAF sources said this financing was approved in the 40th meeting of the Pakistan Poverty Alleviation Fund board of
Published 02 Aug, 2006 12:00am
Wheat release price fixed at Rs 11,000 per ton

Wheat release price fixed at Rs 11,000 per ton

The government has fixed wheat release price for the mills at Rs 11,000 per ton for 2006-07, and asked provincial food departments and Pakistan Agriculture Storage and Services Corporation (Passco) to follow a quota-free and liberal policy till December 3
Published 02 Aug, 2006 12:00am
Human rights chief in IoK quits

Human rights chief in IoK quits

A retired judge heading an autonomous human rights commission in Indian occupied Kashmir (IOK) has resigned, arguing the government was not taking the body seriously, reports said on Tuesday.
Published 02 Aug, 2006 12:00am
Bulgaria's wheat crop falls

Bulgaria's wheat crop falls

Bulgaria expects an overall wheat crop of 3.1 million tonnes, in line with the farm ministry's forecast but still below last year's 3.48 million tonnes, a senior agriculture official said on Tuesday.
Published 02 Aug, 2006 12:00am
Nine killed in IoK violence

Nine killed in IoK violence

Five security personnel and four freedom fighters have been killed in a fresh surge of violence that saw shooting at a popular tourist spot in Indian occupied Kashmir, police said on Tuesday.
Published 02 Aug, 2006 12:00am
Polish grain output seen down

Polish grain output seen down

Poland's Grain Chamber said on Tuesday it had trimmed its 2006 grain harvest estimate to around 25.2 million tonnes from the previously forecast 27.5 million tonnes due to continuing dry, hot weather last month.
Published 02 Aug, 2006 12:00am
Nine killed in IoK violence

Nine killed in IoK violence

Five security personnel and four freedom fighters have been killed in a fresh surge of violence that saw shooting at a popular tourist spot in Indian occupied Kashmir, police said on Tuesday.
Published 02 Aug, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 27,334 tonnes of cargo including 19,204 tonnes import, 8,130 tonnes export cargo and 344 containers during last 24 hours ending at 0700 hours on Tuesday.
Published 02 Aug, 2006 12:00am
Angry mob attacks Pesco installation in Mardan

Angry mob attacks Pesco installation in Mardan

An angry mob on Monday night attacked Peshawar Electricity Supply Company (Pesco)'s Grid Station in Jala, district Mardan and burnt several vehicles including truck, tractor and important installations including Relay Channel, and other precious equipment
Published 02 Aug, 2006 12:00am
Ivorian cocoa prices mixed

Ivorian cocoa prices mixed

Farmgate prices in Ivory Coast's cocoa growing regions were mixed from July 24 to 30, Coffee and Cocoa Bourse (BCC) data showed on Tuesday as demand fell for fast-diminishing but good quality cocoa stocks.
Published 02 Aug, 2006 12:00am
RCITs may give tax relief to non-profit organisations

RCITs may give tax relief to non-profit organisations

The Regional Commissioners of Income Tax (RCITs) are likely to register the non-profit organisations (NPOs), institutions/funds/trusts/societies and give income tax exemption after necessary documentation. At present, the NPOs are bound to submit applicat
Published 02 Aug, 2006 12:00am
Drifting ship to be towed to an Indian port

Drifting ship to be towed to an Indian port

An Indian container ship which developed a technical fault and began drifting off the west coast of India near Mumbai at the weekend will be towed to a nearby port, its owners said on Tuesday.
Published 02 Aug, 2006 12:00am
RCITs may give tax relief to non-profit organisations

RCITs may give tax relief to non-profit organisations

The Regional Commissioners of Income Tax (RCITs) are likely to register the non-profit organisations (NPOs), institutions/funds/trusts/societies and give income tax exemption after necessary documentation. At present, the NPOs are bound to submit applicat
Published 02 Aug, 2006 12:00am
Hungary winds up wheat harvest

Hungary winds up wheat harvest

Hungary's wheat harvest is nearly complete, with yields averaging 4.1 tonnes per hectare but varying widely due to poor results in flood-hit regions, the Agriculture Ministry said on Tuesday. The yield on the 1.082 million hectares sown is down from 4.5 t
Published 02 Aug, 2006 12:00am
RCITs may give tax relief to non-profit organisations

RCITs may give tax relief to non-profit organisations

The Regional Commissioners of Income Tax (RCITs) are likely to register the non-profit organisations (NPOs), institutions/funds/trusts/societies and give income tax exemption after necessary documentation. At present, the NPOs are bound to submit applicat
Published 02 Aug, 2006 12:00am
HRW wheat bids steady

HRW wheat bids steady

US hard red winter wheat spot basis bids were steady on Tuesday, with mill demand light, merchants said. Protein premiums for railcar wheat to and through Kansas City were steady to 1 cent lower, with wheat movement out of the country still aggressive and
Published 02 Aug, 2006 12:00am
RCITs may give tax relief to non-profit organisations

RCITs may give tax relief to non-profit organisations

The Regional Commissioners of Income Tax (RCITs) are likely to register the non-profit organisations (NPOs), institutions/funds/trusts/societies and give income tax exemption after necessary documentation. At present, the NPOs are bound to submit applicat
Published 02 Aug, 2006 12:00am
US Midwest corn bids mixed; soya, wheat steady

US Midwest corn bids mixed; soya, wheat steady

Spot basis bids for corn were steady to slightly firmer around the interior US Midwest Tuesday but fell at river locations, grain dealers said. Cash bids for wheat and soyabeans were mostly steady.
Published 02 Aug, 2006 12:00am
Dubai gold sales drop 30 percent

Dubai gold sales drop 30 percent

Sales for Dubai's gold industry dropped 30 percent in the first half of the year as gold prices soared, the chairman of a gold and jewellery trade group in the Gulf emirate said.
Published 02 Aug, 2006 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

The average price of Bangladesh teas rose up more than 1.0 percent to 99.40 taka ($1.43) per kg on higher demand at a weekly auction on Tuesday, brokers said.
Published 02 Aug, 2006 12:00am
Sri Lanka water battle rages by sea, land and air

Sri Lanka water battle rages by sea, land and air

Sri Lankan troops continued their slog through mines and mortar fire towards a Tamil Tiger-held water supply on Tuesday, while jets hit rebel positions and a military transport ship was attacked.
Published 02 Aug, 2006 12:00am
FOB Gulf corn and soyabean prices mostly steady

FOB Gulf corn and soyabean prices mostly steady

US FOB Gulf corn and soyabean prices held mostly steady on Monday, supported by slow farmer selling, traders said. Extreme heat in the US Midwest have farmers holding onto their remaining old-crop corn and soyabeans in hope that the weather will drive pri
Published 02 Aug, 2006 12:00am
Two major Chinese steel firms join forces

Two major Chinese steel firms join forces

Jinan Iron and Steel and Laiwu Steel, two of China's largest steel companies, said Tuesday they planned to join forces to boost their presence in a crowded and competitive marketplace.
Published 02 Aug, 2006 12:00am
CBOT wheat futures up

CBOT wheat futures up

Wheat futures at the Chicago Board of Trade closed higher on Monday amid dwindling global wheat stocks and supportive export news, traders said. Support also stemmed from a technical bounce after the market last Wednesday fell to a one-month low.
Published 02 Aug, 2006 12:00am
ISE up 8.38 points

ISE up 8.38 points

Bulls commanded the proceedings on the Islamabad Stock Exchange (ISE) where equities showed healthy signs amid increase in index. ISE-10 index showed an improvement of 8.38 points, as the index moved from 2,807.83 to 2,816.21 points.
Published 02 Aug, 2006 12:00am
Oil cake market rates

Oil cake market rates

Thin business was seen on the forward cottonseed oilcake market on Tuesday, as some buyers were little active in new purchasing, brokers said.
Published 02 Aug, 2006 12:00am
ISE up 8.38 points

ISE up 8.38 points

Bulls commanded the proceedings on the Islamabad Stock Exchange (ISE) where equities showed healthy signs amid increase in index. ISE-10 index showed an improvement of 8.38 points, as the index moved from 2,807.83 to 2,816.21 points.
Published 02 Aug, 2006 12:00am
Modest business on cotton market

Modest business on cotton market

Modest business was seen on the cotton market on Tuesday as some mills showed interest in fresh buying, dealers said. The official spot rate was unchanged at Rs2500, without upcountry expenses. According to market sources, a few mills covered their short-
Published 02 Aug, 2006 12:00am
Former rebels' party alleges fraud in Congo polls

Former rebels' party alleges fraud in Congo polls

A Congolese opposition party and former rebel group on Tuesday denounced what it called widespread fraud in the country's historic elections in a protest that heralded a bitter political dispute over the polls.
Published 02 Aug, 2006 12:00am
Kenyan coffee prices jump

Kenyan coffee prices jump

Kenya coffee prices jumped on Tuesday as exporters competed strongly for the limited volume of high quality coffee from the early crop on offer, and as the market took its traditional month-long break, traders said.
Published 02 Aug, 2006 12:00am
Mixed trend on LSE

Mixed trend on LSE

Reacting to MQM's decision to back-out from the dialogue process with the government, equities showed mixed trend on the Lahore Stock Exchange (LSE), while Pakistan State Oil (PSO) and Pakistan Telecommunication Limited (PTCL) helped market closure in pos
Published 02 Aug, 2006 12:00am
Dullness on grain market

Dullness on grain market

Not much activity was seen on the grain market on Tuesday as most of the buyers kept on the sidelines due to less buying interest, dealers said. On the seed side, cottonseed oilcake with bag inferior type gained Rs20 to Rs700 and good type rose by Rs15 to
Published 02 Aug, 2006 12:00am
Mixed trend on LSE

Mixed trend on LSE

Reacting to MQM's decision to back-out from the dialogue process with the government, equities showed mixed trend on the Lahore Stock Exchange (LSE), while Pakistan State Oil (PSO) and Pakistan Telecommunication Limited (PTCL) helped market closure in pos
Published 02 Aug, 2006 12:00am
Asian oil swaps

Asian oil swaps

Asian oil product swaps rebounded on Tuesday, prompted by overnight gains in US crude futures but the contangoes of both gas oil and naphtha widened on slowing regional demand and rising supply. August gas oil rose $1.20 from Monday to $86.20 a barrel, wh
Published 02 Aug, 2006 12:00am
Goods export and import procedures notified

Goods export and import procedures notified

The commerce ministry on Tuesday notified the procedures for export and import of goods announced in the Trade Policy 2006-07. According to the import policy order, imports may be allowed against all modes of payment subject to procedures prescribed by th
Published 02 Aug, 2006 12:00am
Vietnam thin coffee stock hits sale

Vietnam thin coffee stock hits sale

Domestic coffee prices in Vietnam, the world's second-largest producer after Brazil, rose to a new year high of 19,700 dong ($1.23) per kilogram on Tuesday, but thin stocks have prevented sales from jumping, traders said.
Published 02 Aug, 2006 12:00am
Goods export and import procedures notified

Goods export and import procedures notified

The commerce ministry on Tuesday notified the procedures for export and import of goods announced in the Trade Policy 2006-07. According to the import policy order, imports may be allowed against all modes of payment subject to procedures prescribed by th
Published 02 Aug, 2006 12:00am
MGE wheat up as CBOT rallies

MGE wheat up as CBOT rallies

Spring wheat futures at the Minneapolis Grain Exchange closed higher on Monday following gains in the Chicago market and due to light hedge selling, traders said. "We're just following the outside markets, Chicago and Kansas City, and there were only a fe
Published 02 Aug, 2006 12:00am
Goods export and import procedures notified

Goods export and import procedures notified

The commerce ministry on Tuesday notified the procedures for export and import of goods announced in the Trade Policy 2006-07. According to the import policy order, imports may be allowed against all modes of payment subject to procedures prescribed by th
Published 02 Aug, 2006 12:00am
New York cocoa dips

New York cocoa dips

US cocoa futures settled in negative territory on Monday, weighed down by light speculative selling and spread trading amid market expectations for steady supply, market sources said. The New York Board of Trade's benchmark cocoa contract for delivery in
Published 02 Aug, 2006 12:00am
SBP unveils criteria for strategic equity investment

SBP unveils criteria for strategic equity investment

As the banks are required to cap their investment in shares at 20 percent of their equity, the strategic investment is excluded from the subject limit to enable banks to take exposure in these investments within overall permissible limits per company.
Published 02 Aug, 2006 12:00am
New York cotton finishes down

New York cotton finishes down

Cotton futures settled easier on Monday on speculative sales but trade buying pared its losses and the market may be stuck in a band this week due to a dearth of news in the pit, brokers said.
Published 02 Aug, 2006 12:00am
SBP unveils criteria for strategic equity investment

SBP unveils criteria for strategic equity investment

As the banks are required to cap their investment in shares at 20 percent of their equity, the strategic investment is excluded from the subject limit to enable banks to take exposure in these investments within overall permissible limits per company.
Published 02 Aug, 2006 12:00am
New York coffee down

New York coffee down

Arabica coffee futures ticked down on Monday, pressured by light producer selling and speculators taking profit from the benchmark's rise to its loftiest price in nearly three weeks, traders said.
Published 02 Aug, 2006 12:00am
SBP unveils criteria for strategic equity investment

SBP unveils criteria for strategic equity investment

As the banks are required to cap their investment in shares at 20 percent of their equity, the strategic investment is excluded from the subject limit to enable banks to take exposure in these investments within overall permissible limits per company.
Published 02 Aug, 2006 12:00am
China's summer grains output up

China's summer grains output up

China's output of summer grains rose 7 percent this year, creating worries that falling prices would erode farmers' incomes and lead to less planting in the future, the official Economic Daily said on Tuesday.
Published 02 Aug, 2006 12:00am
SBP unveils criteria for strategic equity investment

SBP unveils criteria for strategic equity investment

As the banks are required to cap their investment in shares at 20 percent of their equity, the strategic investment is excluded from the subject limit to enable banks to take exposure in these investments within overall permissible limits per company.
Published 02 Aug, 2006 12:00am
New York copper strong on supply worries

New York copper strong on supply worries

Comex copper futures finished on Monday with healthy increases and prospects for more gains after it rallied throughout the session on Friday following a strike vote at the world's largest copper mine in Chile, traders said.
Published 02 Aug, 2006 12:00am
New York gold down on month-end sales

New York gold down on month-end sales

Gold futures in New York settled a touch lower on Monday on end-of-the-month book squaring, after bullion prices were pressured in lackluster, rangebound trade in Europe, market sources said. A weaker dollar and firm crude price failed to give gold much o
Published 02 Aug, 2006 12:00am
Tocom gold falls with US

Tocom gold falls with US

Tokyo gold futures inched down on Tuesday tracking New York gold's decline, but prices largely stayed within recent ranges in the absence of fresh news to provide direction. Some market participants also said trade would be cautious ahead of a batch of ec
Published 02 Aug, 2006 12:00am
Gold rebounds in Asian markets

Gold rebounds in Asian markets

Gold bounced back on Tuesday as the dollar remained under pressure from expectations the Federal Reserve would refrain from raising rates again next week.
Published 02 Aug, 2006 12:00am
Doors kept open

Doors kept open

A committee set up by President Pervez Musharraf on Tuesday held a meeting chaired by Prime Minister Shaukat Aziz, decided to keep doors open and utilise all options to find an amicable solution to Sindh crisis, reports AAJ TV.
Published 02 Aug, 2006 12:00am
Ukraine 2006 sugar output seen meeting demand

Ukraine 2006 sugar output seen meeting demand

Ukraine will harvest nearly 20 percent more sugar beet this year, enough to meet demand, as the country's top processors begin to invest in beet cultivation and acquiring smaller plants, industry analysts said on Tuesday.
Published 02 Aug, 2006 12:00am
Doors kept open

Doors kept open

A committee set up by President Pervez Musharraf on Tuesday held a meeting chaired by Prime Minister Shaukat Aziz, decided to keep doors open and utilise all options to find an amicable solution to Sindh crisis, reports AAJ TV.
Published 02 Aug, 2006 12:00am
Oil hovers near $75; Middle East worries

Oil hovers near $75; Middle East worries

Oil held steady near $75 on Tuesday as dealers remained on edge over geopolitical tensions in the Middle East and after heat waves in the United States and Europe triggered a surge in natural gas prices. US light sweet crude for September delivery slipped
Published 02 Aug, 2006 12:00am
Musharraf annoyed over MQM attitude: political crisis deepens

Musharraf annoyed over MQM attitude: political crisis deepens

Political crisis has deepened after the refusal of the MQM to participate in the reconciliatory meeting called by President General Pervez Musharraf and return to Karachi on Tuesday. However, the President held the meeting in which the Sindh chief ministe
Published 02 Aug, 2006 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin closed down $4 a tonne on Tuesday, despite increase in prices on the London Metals Exchange, because of a technical correction, one dealer said.
Published 02 Aug, 2006 12:00am
Musharraf annoyed over MQM attitude: political crisis deepens

Musharraf annoyed over MQM attitude: political crisis deepens

Political crisis has deepened after the refusal of the MQM to participate in the reconciliatory meeting called by President General Pervez Musharraf and return to Karachi on Tuesday. However, the President held the meeting in which the Sindh chief ministe
Published 02 Aug, 2006 12:00am
Copper steadier in Asian markets

Copper steadier in Asian markets

Copper prices fell more than 2 percent on Tuesday, but held steady around $7,800 a tonne on concerns about tight supply following a strike vote at the world's largest copper mine in Chile.
Published 02 Aug, 2006 12:00am
BRIndex30 up 54.34 points

BRIndex30 up 54.34 points

On Tuesday, the BRIndex30 opened at 11,082.46 with a positive gap of 36.81 points. It showed a change of 54.34 or 0.49 percent with intra-day high of 11,175.45 and low of 10,998.99 before closing at 11,099.99. The volume amounted to 206,756,700, which was
Published 02 Aug, 2006 12:00am
Indian sugar firm

Indian sugar firm

Indian sugar futures firmed on Tuesday on news the government was allowing exports of sugar that were in transit, while wheat futures were mixed on an increase in supply. Soy oil nudged higher after the government raised base prices used for calculating i
Published 02 Aug, 2006 12:00am
BRIndex30 up 54.34 points

BRIndex30 up 54.34 points

On Tuesday, the BRIndex30 opened at 11,082.46 with a positive gap of 36.81 points. It showed a change of 54.34 or 0.49 percent with intra-day high of 11,175.45 and low of 10,998.99 before closing at 11,099.99. The volume amounted to 206,756,700, which was
Published 02 Aug, 2006 12:00am
New York sugar up

New York sugar up

Raw sugar prices ended higher on Monday on light trade buying and some analysts feel the market's recent fall to six-week lows caused by fund liquidation appears to be stalling. New York Board of Trade October raw sugar added 0.15 cent to conclude at 14.9
Published 02 Aug, 2006 12:00am
Mixed trend prevails on KSE

Mixed trend prevails on KSE

Mixed trend prevailed on the Karachi Stock Exchange (KSE) on Tuesday with index oscillated several times between thee negative and positive zones It finally closed at 10507.09 points after gaining 9.46 points. Banks and cements contributed positively to t
Published 02 Aug, 2006 12:00am
Soya ends firm as heat raises

Soya ends firm as heat raises

Soybean futures at the Chicago Board of Trade closed firm on Monday due to worries about the US crop, which was under stress from extreme heat in the US Midwest, traders said. But the session was choppy and soybeans were pulled lower off-and-on amid the w
Published 02 Aug, 2006 12:00am
Mixed trend prevails on KSE

Mixed trend prevails on KSE

Mixed trend prevailed on the Karachi Stock Exchange (KSE) on Tuesday with index oscillated several times between thee negative and positive zones It finally closed at 10507.09 points after gaining 9.46 points. Banks and cements contributed positively to t
Published 02 Aug, 2006 12:00am
Oil World cuts global soyabean crop forecast

Oil World cuts global soyabean crop forecast

Hamburg-based oilseeds analyst Oil World said it has cut its estimate of global 2006/07 soyabean production to 221 million tonnes, two million tonnes down from its previous forecast and against 219.86 million tonnes harvested last season.
Published 02 Aug, 2006 12:00am
Mixed trend prevails on KSE

Mixed trend prevails on KSE

Mixed trend prevailed on the Karachi Stock Exchange (KSE) on Tuesday with index oscillated several times between thee negative and positive zones It finally closed at 10507.09 points after gaining 9.46 points. Banks and cements contributed positively to t
Published 02 Aug, 2006 12:00am
CBOT rice closes firm

CBOT rice closes firm

Rough rice futures at the Chicago Board of Trade closed slightly firmer on Monday with spreading the day's feature, traders said. "It was all spread trade index-type funds were rolling out of their long September positions into November," said one rice tr
Published 02 Aug, 2006 12:00am
SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

Portfolio investors belonging to Hong Kong, USA, and Switzerland pulled out on July 28 a net amount of $1 million from their Special Convertible Rupee Accounts or SCRAs maintained with the authorised dealers (scheduled banks) in Pakistan.
Published 02 Aug, 2006 12:00am
Tokyo rubber futures mixed

Tokyo rubber futures mixed

Tokyo rubber futures ended mixed on Tuesday as many players stayed on the sidelines, but physical prices remained steady with some small deals done, dealers said.
Published 02 Aug, 2006 12:00am
SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

Portfolio investors belonging to Hong Kong, USA, and Switzerland pulled out on July 28 a net amount of $1 million from their Special Convertible Rupee Accounts or SCRAs maintained with the authorised dealers (scheduled banks) in Pakistan.
Published 02 Aug, 2006 12:00am
Malaysian palm oil up on exports

Malaysian palm oil up on exports

Malaysian crude palm oil futures rose nearly 2 percent on Tuesday, driven by hopes that the strong export performance will continue in August and higher prices of rival soyoil. Exports of Malaysian palm products in July stood at 1,225,495 tonnes, up 11.3
Published 02 Aug, 2006 12:00am
SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

SCRAs: Switzerland, Hong Kong and USA withdraw $1 million

Portfolio investors belonging to Hong Kong, USA, and Switzerland pulled out on July 28 a net amount of $1 million from their Special Convertible Rupee Accounts or SCRAs maintained with the authorised dealers (scheduled banks) in Pakistan.
Published 02 Aug, 2006 12:00am
Brazil's Embraer sells 5 jets to Golden Aviation

Brazil's Embraer sells 5 jets to Golden Aviation

Brazilian aircraft maker Embraer said on Tuesday that Gold Aviation Services, an air charter company based in Florida, had placed a firm order for five executive jets.
Published 02 Aug, 2006 12:00am
Olmert sees beginning of moves towards truce

Olmert sees beginning of moves towards truce

Israeli Prime Minister Ehud Olmert said on Tuesday he saw signs of movement toward a cease-fire and Hizbollah had suffered heavy losses, comments that appeared to prepare the ground for an end to fighting.
Published 02 Aug, 2006 12:00am
Kodak posts larger loss, cut revenue outlook

Kodak posts larger loss, cut revenue outlook

Eastman Kodak Co on Tuesday posted a wider second-quarter net loss and cut its full-year revenue outlook, sending its shares down 7.5 percent, as the top maker of photographic film found its shift to digital products more difficult than expected.
Published 02 Aug, 2006 12:00am
Iran blasts 'worthless' nuclear deadline

Iran blasts 'worthless' nuclear deadline

Iran reacted angrily Tuesday to a UN Security Council resolution ordering it to freeze sensitive nuclear work by the end of the month, with one top official branding the text as "worthless".
Published 02 Aug, 2006 12:00am
Kodak posts larger loss, cut revenue outlook

Kodak posts larger loss, cut revenue outlook

Eastman Kodak Co on Tuesday posted a wider second-quarter net loss and cut its full-year revenue outlook, sending its shares down 7.5 percent, as the top maker of photographic film found its shift to digital products more difficult than expected.
Published 02 Aug, 2006 12:00am
Ibad meets Shaukat

Ibad meets Shaukat

Sindh Governor Dr Ishratul Ibad late Tuesday night held a meeting with Prime Minister Shaukat Aziz at Prime Minister House in Islamabad to sort out issues arising out of resignation of MQM ministers, Aaj TV reported.
Published 02 Aug, 2006 12:00am
EBRD lends Bosnia $15.3 million to manage air traffic

EBRD lends Bosnia $15.3 million to manage air traffic

The European Bank for the Reconstruction and Development (EBRD) and Bosnia signed a 12 million euro ($15.30 million)loan on Tuesday that will enable the Balkan country to take sole control its air space.
Published 02 Aug, 2006 12:00am
Heavy fighting as Israel targets more civilians

Heavy fighting as Israel targets more civilians

Israel continued targeting Hizbollah positions in Lebanon, Aaj TV special corespondent, Batool Fatima, reported from Beirut on Tuesday. More and more civilians are coming under Israeli barrage of fire as it becomes more ferocious, destructive and w
Published 02 Aug, 2006 12:00am
Global manufacturing growth edges up: PMI

Global manufacturing growth edges up: PMI

Global manufacturing growth expanded at the fastest pace in three months in July and cost pressures hit their highest levels in almost two years, a global indicator based on national surveys showed on Tuesday.
Published 02 Aug, 2006 12:00am
Heavy fighting as Israel targets more civilians

Heavy fighting as Israel targets more civilians

Israel continued targeting Hizbollah positions in Lebanon, Aaj TV special corespondent, Batool Fatima, reported from Beirut on Tuesday. More and more civilians are coming under Israeli barrage of fire as it becomes more ferocious, destructive and w
Published 02 Aug, 2006 12:00am
Singapore Air profit more than doubles

Singapore Air profit more than doubles

Singapore Airlines, the world's second-biggest airline by stock market value, more than doubled its quarterly profit, its first increase in six quarters, helped by a one-off gain from the sale of property.
Published 02 Aug, 2006 12:00am
Quarter-wise revenue targets mapped out

Quarter-wise revenue targets mapped out

The Central Board of Revenue (CBR) in consultation with Prime Minister Shaukat Aziz has chalked out quarter-wise revenue collection target for the fiscal year 2006-07.
Published 02 Aug, 2006 12:00am