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Print - 2006-11-07
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 07 Nov, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (November 06, 2006).

Published 07 Nov, 2006 12:00am
Occupation troops kill two in IoK

Occupation troops kill two in IoK

Occupation Indian troops killed two suspected Mujahideen in occupied Kashmir and arrested four others as they sought to cross into Azad Kashmir.
Published 07 Nov, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 07 Nov, 2006 12:00am
Malaysian telecom company investing $100 million

Malaysian telecom company investing $100 million

One of Malaysia's leading telecom companies is investing 100 million dollars in Pakistan for connecting 107 cities with 4,100 kilometers of fibre optic cable.
Published 07 Nov, 2006 12:00am
Public holiday on Iqbal Day

Public holiday on Iqbal Day

The government has decided to celebrate the birthday of national poet and philosopher Allama Iqbal as "Iqbal Day," falling on Thursday (November 9) and has declared it a public holiday.
Published 07 Nov, 2006 12:00am
Public holiday on Iqbal Day

Public holiday on Iqbal Day

The government has decided to celebrate the birthday of national poet and philosopher Allama Iqbal as "Iqbal Day," falling on Thursday (November 9) and has declared it a public holiday.
Published 07 Nov, 2006 12:00am
Galvanised steel products prices again shoot up

Galvanised steel products prices again shoot up

After a 15-day gap, the prices of galvanised steel products in international market shot up again by $50 per ton on the back skyrocketing zinc prices at London Metal Exchange (LME), importers said on Monday.
Published 07 Nov, 2006 12:00am
ISE index loses 65.73 points

ISE index loses 65.73 points

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) where selling-pressure intensified in hot favourite moved the entire ready-board in downward direction amid decrease in index.
Published 07 Nov, 2006 12:00am
ISE index loses 65.73 points

ISE index loses 65.73 points

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) where selling-pressure intensified in hot favourite moved the entire ready-board in downward direction amid decrease in index.
Published 07 Nov, 2006 12:00am
Bombardier, partners win $326 million China deal

Bombardier, partners win $326 million China deal

Bombardier Inc and its joint-venture partners in China said on Monday they have won a $326-million contract to deliver 51 metro trains to Shanghai. Bombardier, the world's biggest train manufacturer, said its share of the contract is worth $104 million.
Published 07 Nov, 2006 12:00am
LSE index drops 150.92 points

LSE index drops 150.92 points

Share prices nose-dived on Lahore Stock Exchange (LSE) due to multiple factors, including fears of the report to be placed before the National Assembly standing committee on Wednesday for March crisis of the market, news of postponement of NBP deal for sa
Published 07 Nov, 2006 12:00am
LSE index drops 150.92 points

LSE index drops 150.92 points

Share prices nose-dived on Lahore Stock Exchange (LSE) due to multiple factors, including fears of the report to be placed before the National Assembly standing committee on Wednesday for March crisis of the market, news of postponement of NBP deal for sa
Published 07 Nov, 2006 12:00am
Britain's wheat crop quality seen above average

Britain's wheat crop quality seen above average

Britain's wheat crop this year showed an improvement in quality over recent seasons, the Home-Grown Cereals Authority said on Monday, issuing final results of its quality survey.
Published 07 Nov, 2006 12:00am
Iraq starts to lift curfew; 5 US soldiers killed

Iraq starts to lift curfew; 5 US soldiers killed

Iraq began on Monday to lift a curfew imposed to quell any insurgent backlash against the death sentence passed on Saddam Hussein, amid a wave of jubilation among his former victims and fury among die-hard supporters.
Published 07 Nov, 2006 12:00am
Hispanics may swing some close US elections

Hispanics may swing some close US elections

Hispanic voters in the United States, a growing bloc, could play a key role in deciding close races in at least four states on Tuesday, experts said.
Published 07 Nov, 2006 12:00am
State legislatures could shift to Democrats

State legislatures could shift to Democrats

US state legislatures head into Tuesday's election almost even in terms of party control, with Democrats poised to potentially shift the power base in their favour, a change that can position them to influence future elections.
Published 07 Nov, 2006 12:00am
Koizumi surfaces in Bush campaign speech

Koizumi surfaces in Bush campaign speech

Even though he is no longer Japan's prime minister, Junichiro Koizumi still plays a central role in US President George W. Bush's campaign speeches.
Published 07 Nov, 2006 12:00am
Japan and US seek five-party talks on North Korea

Japan and US seek five-party talks on North Korea

Japan and the United States want their foreign ministers to meet counterparts from China, South Korea and Russia next week to discuss North Korea's nuclear arms programmes, Japanese Foreign Minister Taro Aso said on Monday.
Published 07 Nov, 2006 12:00am
Italy convicts Egyptian linked to Madrid bombings

Italy convicts Egyptian linked to Madrid bombings

An Italian court on Monday sentenced an Egyptian accused of being one of the masterminds of the 2004 Madrid bombings to 10 years in prison for terrorist association.
Published 07 Nov, 2006 12:00am
Global warming major threat to humanity: Kenya

Global warming major threat to humanity: Kenya

Saying that global warming was among the worst threats ever to face humanity, Kenya urged a 189-nation conference on Monday to do more to fight climate change with special help for the poorest in Africa.
Published 07 Nov, 2006 12:00am
Free speech pledge may soften EU-Turkey crisis

Free speech pledge may soften EU-Turkey crisis

The European Union signalled on Monday that a Turkish pledge to amend freedom of expression laws to meet EU standards may help soften a looming crisis after Brussels issues a critical progress report this week.
Published 07 Nov, 2006 12:00am
Zuma shaken as former aide loses graft appeal

Zuma shaken as former aide loses graft appeal

South Africa's top appeals court dented ex-Deputy President Jacob Zuma's chances of becoming the next president on Monday when it confirmed corruption convictions against a former financial adviser.
Published 07 Nov, 2006 12:00am
More children hurt in US school bus mishaps: study

More children hurt in US school bus mishaps: study

Injuries to US children suffered in school buses are roughly three times more common than previously estimated, with about 17,000 hurt annually in crashes and other mishaps, researchers reported on Monday.
Published 07 Nov, 2006 12:00am
Indian court refuses to stop closing Delhi shops

Indian court refuses to stop closing Delhi shops

India's Supreme Court on Monday rejected a government petition to allow thousands of illegal shops to continue doing business in New Delhi and ordered that a drive to close them resume immediately.
Published 07 Nov, 2006 12:00am
West Indies tour Pakistan after nine years

West Indies tour Pakistan after nine years

The West Indies cricket squad arrived here Monday to play three Tests and five one-day internationals during their first tour of Pakistan in nine years.
Published 07 Nov, 2006 12:00am
Jayawardene named Sri Lanka captain for World Cup

Jayawardene named Sri Lanka captain for World Cup

Mahela Jayawardene will lead Sri Lanka at the World Cup in the Caribbean next March, chairman of selectors Asantha de Mel told AFP on Monday. "Mahela has done a decent job since taking over from Marvan Atapattu and he will continue till the World Cup," De
Published 07 Nov, 2006 12:00am
Final Ashes tickets go on sale

Final Ashes tickets go on sale

Desperate supporters will have a chance to get their hands on treasured Ashes tickets from Wednesday when more than 26,000 tickets for the five tests go on general sale, Cricket Australia said on Monday.
Published 07 Nov, 2006 12:00am
Asif files appeal against ban

Asif files appeal against ban

Pacer Mohammad Asif on Monday filed appeal against the one-year ban imposed after he along with Shoaib Akhtar tested positive for the banned steroid nandrolone. Pakistan Cricket Board (PCB) has already formed a three-member Anti Doping Appeal Commission t
Published 07 Nov, 2006 12:00am
Sharapova aims high as top girls limp into Madrid

Sharapova aims high as top girls limp into Madrid

Maria Sharapova and Justine Henin-Hardenne aim to depose Amelie Mauresmo as world number one at the WTA Championships but reaching the end of the season in one piece is also high on their wish lists.
Published 07 Nov, 2006 12:00am
Hair won't rule out legal action against ICC decision

Hair won't rule out legal action against ICC decision

Dumped international umpire Darrell Hair says he is assessing his options after being dropped by the International Cricket Council for his role in the Pakistani ball-tampering affair.
Published 07 Nov, 2006 12:00am
Yuan ends weaker versus dollar

Yuan ends weaker versus dollar

The yuan closed lower against the dollar on Monday as the central bank signalled it wanted stability for a while after announcing a monetary tightening, but traders expect the yuan's uptrend to resume soon.
Published 07 Nov, 2006 12:00am
Asian currencies down after US jobs

Asian currencies down after US jobs

The South Korean won fell half a percent and other Asian currencies also gave up ground to the dollar on Monday after strong US job growth spurred expectations the Federal Reserve would refrain from cutting rates for a while.
Published 07 Nov, 2006 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 68.00/69.55 (previous 68.00/69.00). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent.
Published 07 Nov, 2006 12:00am
Dollar keeps gains

Dollar keeps gains

The dollar steadied against major currencies on Monday after rallying late last week on data showing solid US jobs growth that reinforced the Federal Reserve's stance on keeping interest rates steady.
Published 07 Nov, 2006 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc remained close to multi-year lows against the euro on Monday on the view interest rates in Switzerland would rise slower than elsewhere, standing flat against major currencies in early trading.
Published 07 Nov, 2006 12:00am
Indian rupee edges down

Indian rupee edges down

The Indian rupee weakened on Monday from six-month highs hit last week as the US dollar gained against major currencies after encouraging jobs data. The partially convertible rupee ended at 44.8975/44.9075 per dollar, about 0.2 percent weaker than the pre
Published 07 Nov, 2006 12:00am
Hong Kong dollar weakens

Hong Kong dollar weakens

The Hong Kong dollar slipped to a one-week low against the US dollar on Monday, while interbank rates were mixed. The domestic currency fell to 7.7827 to the US dollar before pulling back to 7.7818/20, but it was still lower than Friday's close of 7.7774/
Published 07 Nov, 2006 12:00am
Tokyo shares close flat

Tokyo shares close flat

Tokyo's Nikkei average ended flat on Monday, adding 0.09 percent in a market hurt by Fast Retailing Co's fall on weak sales, though Konica Minolta Holdings Inc rose after posting better results than expected.
Published 07 Nov, 2006 12:00am
Chinese shares climb despite reserve hike

Chinese shares climb despite reserve hike

Chinese shares rose 1.07 percent to a new five-year high in active trade on Monday as investors bet a hike in commercial bank reserve requirements announced on Friday would not derail this year's bull run.
Published 07 Nov, 2006 12:00am
Indian stocks make gains

Indian stocks make gains

Indian share prices closed at a fourth straight record high on Monday as foreign fund buying continued in the fast growing emerging market, dealers said.
Published 07 Nov, 2006 12:00am
Taiwan stocks end lower

Taiwan stocks end lower

Taiwan stocks ended down 0.57 percent on Monday amid political uncertainty after President Chen Shui-bian denied corruption charges, with investors awaiting October sales results for tech firms like TSMC.
Published 07 Nov, 2006 12:00am
Philippines shares fall

Philippines shares fall

Philippines share prices closed 0.11 percent lower on Monday in a very modest technical correction after the market hit successive nine-year highs on the back of growing confidence in the economic outlook, dealers said.
Published 07 Nov, 2006 12:00am
Malaysian stocks sag

Malaysian stocks sag

Malaysian share prices closed 0.42 percent lower on Monday on profit-taking as the market consolidated after failing to close above a significant resistance level last week, dealers said.
Published 07 Nov, 2006 12:00am
JGBs slump as US Treasuries dive

JGBs slump as US Treasuries dive

Japanese government bond prices slumped on Monday as the market took its cue from US Treasuries, which dived the previous session after solid data pushed back expectations for a Federal Reserve interest rate cut.
Published 07 Nov, 2006 12:00am
JGBs slump as US Treasuries dive

JGBs slump as US Treasuries dive

Japanese government bond prices slumped on Monday as the market took its cue from US Treasuries, which dived the previous session after solid data pushed back expectations for a Federal Reserve interest rate cut.
Published 07 Nov, 2006 12:00am
Seoul shares finish four-day winning streak

Seoul shares finish four-day winning streak

Seoul shares fell 0.34 percent on Monday, suffering their first loss in five sessions, as exporters such as Hyundai Motor extended a rout on worries a stubbornly strong won would make goods less competitive against Japanese rivals.
Published 07 Nov, 2006 12:00am
Hong Kong shares near peak

Hong Kong shares near peak

Hong Kong blue chips gained 1 percent to their fourth straight record close on Monday, as investors chased property shares and other laggards while China Mobile set fresh six-year peaks.
Published 07 Nov, 2006 12:00am
Thai stocks slightly up

Thai stocks slightly up

Thai share prices closed 0.36 percent higher on Monday amid an investor perception the kingdom's post-coup government will push ahead with key economic policies this week, dealers said. They said the Thai market moved in line with most other regional stoc
Published 07 Nov, 2006 12:00am
Jakarta shares jump

Jakarta shares jump

Indonesian share prices closed 1.73 percent higher on Monday at another record high as investors geared-up for a widely anticipated 50 basis point cut in interest rates, dealers said.
Published 07 Nov, 2006 12:00am
Australian shares soar

Australian shares soar

Australian share prices closed up 0.22 percent at fresh record highs on Monday as investors bought resource stocks following a rise in metal prices, dealers said. But they said sentiment was checked by a weak lead from the US on Friday, where shares fell
Published 07 Nov, 2006 12:00am
Vietnam set to become WTO's 150th member

Vietnam set to become WTO's 150th member

Vietnam is set to become the 150th member of the World Trade Organisation (WTO) Tuesday after 20 years of market reforms that have made the communist ruled country one of Asia's fastest growing economies.
Published 07 Nov, 2006 12:00am
Very low oil prices not sustainable: Saudi minister

Very low oil prices not sustainable: Saudi minister

Saudi Arabian Oil Minister Ali al-Naimi said on Monday very low oil prices are not sustainable and can lead to price volatility. "The reality is very low oil prices are not sustainable. In fact they invariably lead to volatility and subsequently higher pr
Published 07 Nov, 2006 12:00am
Mittal tightens grip on Arcelor group

Mittal tightens grip on Arcelor group

Lakshmi Mittal has been named chief executive officer of the steel giant Arcelor Mittal, putting him clearly in control but calling into question what was termed a merger of equals when the group was created four months ago.
Published 07 Nov, 2006 12:00am
Murdoch hints at plans for Japanese MySpace

Murdoch hints at plans for Japanese MySpace

News Corp owner Rupert Murdoch said Monday he was seeking a tie-up in new media with Japan's Softbank amid reports the firms plan a Japanese version of MySpace, the wildly popular US networking website.
Published 07 Nov, 2006 12:00am
More housing weakness seen but worst over: Greenspan

More housing weakness seen but worst over: Greenspan

The US housing market will weaken further, but the sharpest decline is over as inventories of unsold homes decrease, former Federal Reserve Chairman Alan Greenspan said on Monday. "This is not the bottom, but the worst is behind us," Greenspan said at a c
Published 07 Nov, 2006 12:00am
General Motors expects flat global output in 2006

General Motors expects flat global output in 2006

General Motors Corp Chief Executive Rick Wagoner said on Monday that he expected the US company's global output this year to roughly match 2005, with sales largely overseas.
Published 07 Nov, 2006 12:00am
Qatari gas to flow to UAE next summer

Qatari gas to flow to UAE next summer

Natural gas is set to start flowing from Qatar into its Gulf neighbour the United Arab Emirates next summer, an official said Monday, adding he was unaware of reported Saudi objections to the project.
Published 07 Nov, 2006 12:00am
Zimbabwe economic crisis can be reversed: IMF

Zimbabwe economic crisis can be reversed: IMF

Zimbabwe's economic woes could be reversed if the southern African country implements monetary and fiscal reforms recommended by the International Monetary Fund, a regional IMF official said on Monday.
Published 07 Nov, 2006 12:00am
China considers free trade talks with India

China considers free trade talks with India

China is considering opening talks with India on setting up a free trade area, Xinhua news agency reported on Monday, as business links boom between the giant neighbours and former foes.
Published 07 Nov, 2006 12:00am
UK manufacturing flat

UK manufacturing flat

British manufacturing failed to expand for the first time in five months in September, official data showed on Monday, raising concerns economic growth in the third quarter may not have been as strong as initially estimated.
Published 07 Nov, 2006 12:00am
Emirates airline profit rises

Emirates airline profit rises

Emirates, the largest Arab airline, said first-half profit rose 29 percent after the Dubai government-owned company offset higher fuel costs by carrying more passengers and cargo.
Published 07 Nov, 2006 12:00am
Emirates airline profit rises

Emirates airline profit rises

Emirates, the largest Arab airline, said first-half profit rose 29 percent after the Dubai government-owned company offset higher fuel costs by carrying more passengers and cargo.
Published 07 Nov, 2006 12:00am
German orders fall sharply in September

German orders fall sharply in September

German manufacturing orders fell more than expected in September as foreign purchases of capital goods dipped sharply, but the government and economists said the general outlook for the sector remained robust.
Published 07 Nov, 2006 12:00am
South Korea signs $10 billion railway project with Nigeria

South Korea signs $10 billion railway project with Nigeria

South Korea's POSCO Engineering & Construction Co and state-run Korea National Oil Corp have won a deal worth $10 billion to upgrade railway infrastructure in Nigeria, Seoul's energy ministry said on Monday.
Published 07 Nov, 2006 12:00am
ECB passes crisis-readiness test

ECB passes crisis-readiness test

The European Central Bank said on Monday it had confirmed it was prepared for a financial crisis in the eurozone after carrying out a practice exercise earlier this year.
Published 07 Nov, 2006 12:00am
India approves Volvo, Disney, Honda investments

India approves Volvo, Disney, Honda investments

India on Monday said it had approved 32 foreign direct investment proposals worth 2.5 billion rupees ($55.7 million) across a range of sectors and involving firms such as Volvo, Walt Disney Co, Honda Motor Co.
Published 07 Nov, 2006 12:00am
China foreign exchange reserves hit $1 trillion

China foreign exchange reserves hit $1 trillion

China's foreign exchange reserves have reached $1 trillion, Chinese state television said on Monday, citing sources with the foreign exchange regulator. Already the world's largest, the reserves hit $987.9 billion at the end of September and have been exp
Published 07 Nov, 2006 12:00am
Euro entry growing more distant for EU newcomers

Euro entry growing more distant for EU newcomers

Eurozone entry is becoming an increasingly distant prospect for most EU newcomers despite robust economic growth, because of high budget deficits and inflation, the European Commission said on Monday.
Published 07 Nov, 2006 12:00am
Europe pumps up GDP and jobs forecasts

Europe pumps up GDP and jobs forecasts

European economic growth will be stronger in 2007 than so far predicted, jobs are being created faster than in any year this decade and inflation is likely to remain subdued, the European Commission said on Monday.
Published 07 Nov, 2006 12:00am
Canada's Dodge urges IMF to tell the hard truth

Canada's Dodge urges IMF to tell the hard truth

The International Monetary Fund should bluntly tell governments when their policies hurt other economies in order to soften the risks to the global economy, Bank of Canada Governor David Dodge said.
Published 07 Nov, 2006 12:00am
Microsoft completes Office 2007

Microsoft completes Office 2007

Microsoft Corp said on Monday it has completed the software code for its Office 2007 suite and will begin to offer the world's most popular package of desktop software to corporate customers on November 30.
Published 07 Nov, 2006 12:00am
Ryanair second quarter profit jumps

Ryanair second quarter profit jumps

Ryanair posted a stronger-than-expected jump in second-quarter profit on Monday and raised its full-year forecast on a rosier winter outlook, pushing its shares to a record high.
Published 07 Nov, 2006 12:00am
Ryanair second quarter profit jumps

Ryanair second quarter profit jumps

Ryanair posted a stronger-than-expected jump in second-quarter profit on Monday and raised its full-year forecast on a rosier winter outlook, pushing its shares to a record high.
Published 07 Nov, 2006 12:00am
Malaysian palm oil futures higher

Malaysian palm oil futures higher

Malaysian crude palm oil futures closed higher in thin trade on Monday, boosted by higher prices of rival soyaoil and lack of sellers. But traders said the market was overbought and could undergo a downward correction soon.
Published 07 Nov, 2006 12:00am
Tokyo rubber falls again

Tokyo rubber falls again

Tokyo rubber futures fell again on Monday in volatile trading and were likely to fall further towards a support level at 210.0 yen. The benchmark six-month contract on the Tokyo commodities Exchange was down 1.5 yen at 211.5 yen ($1.79) per kg after dropp
Published 07 Nov, 2006 12:00am
Dubai sugar refinery resumes production

Dubai sugar refinery resumes production

Dubai's al-Khaleej sugar refinery restarted production on Monday after a fire last week partly damaged the conveyor system and storage areas, Managing Director Jamal al-Ghurair said. "We have just restarted production today but we do not know yet how much
Published 07 Nov, 2006 12:00am
Egypt sells 1,954 tonnes of cotton in a week

Egypt sells 1,954 tonnes of cotton in a week

The Alexandria Cotton Exporters' Association (Alcotexa) said on Monday it had committed to sell 1,954 tonnes of cotton in last week which ended on November 4. An Alcotexa official broke down the sales as 50 tonnes of Giza 70, 544 tonnes of Giza 88, 1,340
Published 07 Nov, 2006 12:00am
East Asian grain: slow buying likely in Japan and Taiwan

East Asian grain: slow buying likely in Japan and Taiwan

Grain buying in Japan and Taiwan is expected to be slow this week after recent purchases, with traders anticipating further buying to emerge later this month, industry sources said on Monday.
Published 07 Nov, 2006 12:00am
Asian naphtha's premium strengthens

Asian naphtha's premium strengthens

Asian naphtha's premium against ICE Brent crude strengthened a bit on Monday helped by a fresh spot demand in South Korea, while traders are set to carefully watch the key term negotiations with Kuwait Petroleum Corp (KPC).
Published 07 Nov, 2006 12:00am