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Print - 2006-12-13
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (December 12, 2006).

Published 13 Dec, 2006 12:00am
BRIndex30 up 45.51 points

BRIndex30 up 45.51 points

On Tuesday, BRIndex30 opened in the green zone at 11,457.34 and remained there the whole trading time, with a positive gap of 45.59 points. It closed at 11,457.26, and registered a positive change of 45.51 and percentage of 0.40. It recorded intra-day hig
Published 13 Dec, 2006 12:00am
KSE index gains 61 points

KSE index gains 61 points

The overall market sentiment remained positive as the KSE-100 index registered a net gain of 61 points on the back of the news regarding revision in gas prices and restoration of trading in Callmate shares by January.
Published 13 Dec, 2006 12:00am
KSE index gains 61 points

KSE index gains 61 points

The overall market sentiment remained positive as the KSE-100 index registered a net gain of 61 points on the back of the news regarding revision in gas prices and restoration of trading in Callmate shares by January.
Published 13 Dec, 2006 12:00am
KSE index gains 61 points

KSE index gains 61 points

The overall market sentiment remained positive as the KSE-100 index registered a net gain of 61 points on the back of the news regarding revision in gas prices and restoration of trading in Callmate shares by January.
Published 13 Dec, 2006 12:00am
'Gwadar Port tender not yet awarded to PSA'

'Gwadar Port tender not yet awarded to PSA'

A consortium, led by Singapore port operator, PSA International, has submitted the highest bid to manage Gwadar Port, but the tender has not yet been awarded, a port official said on Tuesday.
Published 13 Dec, 2006 12:00am
ST collectors express inability to verify refund claims

ST collectors express inability to verify refund claims

The Collectors of sales tax have admitted that it is impossible to verify the suppliers located in the jurisdiction of other collectorates for checking the authenticity of refund claims filed by commercial exporters.
Published 13 Dec, 2006 12:00am
Sales tax field audit to be restored from February

Sales tax field audit to be restored from February

The Central Board of Revenue (CBR) will restore sales tax field audit from February 2007 to conduct meaningful audit by professionally trained auditors based on automated selection criteria without involving manual interference.
Published 13 Dec, 2006 12:00am
Sales tax field audit to be restored from February

Sales tax field audit to be restored from February

The Central Board of Revenue (CBR) will restore sales tax field audit from February 2007 to conduct meaningful audit by professionally trained auditors based on automated selection criteria without involving manual interference.
Published 13 Dec, 2006 12:00am
Sales tax field audit to be restored from February

Sales tax field audit to be restored from February

The Central Board of Revenue (CBR) will restore sales tax field audit from February 2007 to conduct meaningful audit by professionally trained auditors based on automated selection criteria without involving manual interference.
Published 13 Dec, 2006 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (December 12, 2006).

Published 13 Dec, 2006 12:00am
Pawar to attend Saarc agriculture ministers meeting

Pawar to attend Saarc agriculture ministers meeting

Indian Agriculture Minister Sharad Pawar will arrive here Wednesday to attend two-day Saarc agriculture ministers conference that will discuss creation of a regional food bank as well as means to enhance co-operation in agriculture sector.
Published 13 Dec, 2006 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (December 12, 2006).
Published 13 Dec, 2006 12:00am
Suicide bomber kills 70 in Baghdad

Suicide bomber kills 70 in Baghdad

A suicide bomber targeting poor labourers killed 70 people in Baghdad on Tuesday, a day when US President George W. Bush was talking to his military chiefs in Iraq to help him draft a new US strategy.
Published 13 Dec, 2006 12:00am
Suicide bomber kills 70 in Baghdad

Suicide bomber kills 70 in Baghdad

A suicide bomber targeting poor labourers killed 70 people in Baghdad on Tuesday, a day when US President George W. Bush was talking to his military chiefs in Iraq to help him draft a new US strategy.
Published 13 Dec, 2006 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (December 12, 2006).

Published 13 Dec, 2006 12:00am
Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen on Tuesday inked four agreements and a Memorandum of Understanding (MoU) to enhance co-operation in agriculture, trade, education and culture. The agreements were signed here at the Prime Minister House after the second round of formal
Published 13 Dec, 2006 12:00am
Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen on Tuesday inked four agreements and a Memorandum of Understanding (MoU) to enhance co-operation in agriculture, trade, education and culture. The agreements were signed here at the Prime Minister House after the second round of formal
Published 13 Dec, 2006 12:00am
Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen sign four agreements: trade bodies ink MoU

Pakistan and Yemen on Tuesday inked four agreements and a Memorandum of Understanding (MoU) to enhance co-operation in agriculture, trade, education and culture. The agreements were signed here at the Prime Minister House after the second round of formal
Published 13 Dec, 2006 12:00am
Kenya retains Pakistani rice for ''low quality''

Kenya retains Pakistani rice for ''low quality''

Kenya has retained Pakistan''s rice consignments due to low quality, and officials in Mombassa are trying to resolve the issue diplomatically, sources told Business Recorder.
Published 13 Dec, 2006 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (December 12, 2006).

Published 13 Dec, 2006 12:00am
Kenya retains Pakistani rice for 'low quality'

Kenya retains Pakistani rice for 'low quality'

Kenya has retained Pakistan's rice consignments due to low quality, and officials in Mombassa are trying to resolve the issue diplomatically, sources told Business Recorder.
Published 13 Dec, 2006 12:00am
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 (December 12, 2006).

Published 13 Dec, 2006 12:00am
Kenya retains Pakistani rice for 'low quality'

Kenya retains Pakistani rice for 'low quality'

Kenya has retained Pakistan's rice consignments due to low quality, and officials in Mombassa are trying to resolve the issue diplomatically, sources told Business Recorder.
Published 13 Dec, 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 (December 12, 2006).

Published 13 Dec, 2006 12:00am
Fed holds interest rates steady

Fed holds interest rates steady

The US Federal Reserve on Tuesday held benchmark interest rates steady at 5.25 percent for a fourth straight meeting, while renewing a warning that risks from inflation remain.
Published 13 Dec, 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 13 Dec, 2006 12:00am
Fed holds interest rates steady

Fed holds interest rates steady

The US Federal Reserve on Tuesday held benchmark interest rates steady at 5.25 percent for a fourth straight meeting, while renewing a warning that risks from inflation remain.
Published 13 Dec, 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 13 Dec, 2006 12:00am
Fed holds interest rates steady

Fed holds interest rates steady

The US Federal Reserve on Tuesday held benchmark interest rates steady at 5.25 percent for a fourth straight meeting, while renewing a warning that risks from inflation remain.
Published 13 Dec, 2006 12:00am
July-October current account deficit up to $3.42 billion

July-October current account deficit up to $3.42 billion

Fuelled by a huge $5.26 billion trade imbalance in goods and services, Pakistan''s ''current-account deficit'', excluding official transfers, during the first four months of the current fiscal year rose to $3.42 billion, depicting an increase of 53.48 per
Published 13 Dec, 2006 12:00am
July-October current account deficit up to $3.42 billion

July-October current account deficit up to $3.42 billion

Fuelled by a huge $5.26 billion trade imbalance in goods and services, Pakistan's 'current-account deficit', excluding official transfers, during the first four months of the current fiscal year rose to $3.42 billion, depicting an increase of 53.48 percen
Published 13 Dec, 2006 12:00am
Agricultural linkages program: rising to higher levels

Agricultural linkages program: rising to higher levels

Agriculture is playing a vital role in the development of our country. It provides employment to the bulk of work force, and 67 percent population is directly or indirectly dependent on this sector. Thus, the economic well being of the people of Pakistan
Published 13 Dec, 2006 12:00am
July-October current account deficit up to $3.42 billion

July-October current account deficit up to $3.42 billion

Fuelled by a huge $5.26 billion trade imbalance in goods and services, Pakistan's 'current-account deficit', excluding official transfers, during the first four months of the current fiscal year rose to $3.42 billion, depicting an increase of 53.48 percen
Published 13 Dec, 2006 12:00am
25 years of excellence in agricultural research

25 years of excellence in agricultural research

Introduction: Agriculture is the mainstay of Pakistan's economy. It contributes 23 percent of GDP, employs 42% of the labour force, and provides livelihood to about two-thirds of the population. Agricultural commodities and agro-based indust
Published 13 Dec, 2006 12:00am
No oil price relief in near future

No oil price relief in near future

The consumers are not going to have any relief in oil prices, as the government is not considering reduction, at least for the fortnight starting from December 16. Upward trend in the international market provides the government a reason not to reduce oil
Published 13 Dec, 2006 12:00am
Message from Chairman (PARC)

Message from Chairman (PARC)

It is a matter of great pleasure and satisfaction to extend my congratulations to the alumni, scientists and staff of Pakistan Agricultural Research Council on its 25 years of excellence in agricultural research, technology dissemination and human resourc
Published 13 Dec, 2006 12:00am
No oil price relief in near future

No oil price relief in near future

The consumers are not going to have any relief in oil prices, as the government is not considering reduction, at least for the fortnight starting from December 16. Upward trend in the international market provides the government a reason not to reduce oil
Published 13 Dec, 2006 12:00am
Message from Secretary (MINFAL)

Message from Secretary (MINFAL)

I extend my congratulations to the scientists and staff of Pakistan Agricultural Research Council on its Silver Jubilee Celebrations and 25 years of success in agricultural research.
Published 13 Dec, 2006 12:00am
No oil price relief in near future

No oil price relief in near future

The consumers are not going to have any relief in oil prices, as the government is not considering reduction, at least for the fortnight starting from December 16. Upward trend in the international market provides the government a reason not to reduce oil
Published 13 Dec, 2006 12:00am
Message from Federal Minister for Food Agriculture and Livestock

Message from Federal Minister for Food Agriculture and Livestock

It is my great pleasure and privilege to congratulate Pakistan Agricultural Research Council (PARC) scientists and staff on the occasion of Silver Jubilee of the Pakistan Agricultural Research Council, PARC deserves our commendations for its achievements
Published 13 Dec, 2006 12:00am
Message from President Islamic Republic of Pakistan

Message from President Islamic Republic of Pakistan

I congratulate the agricultural research scientists of Pakistan on the Silver Jubilee of PARC the national apex body for agricultural research in Pakistan. Despite substantial development in industrial and services sectors, agriculture is still the domina
Published 13 Dec, 2006 12:00am
Musharraf urges agriculture scientists to help raise per-acre yield

Musharraf urges agriculture scientists to help raise per-acre yield

President General Pervez Musharraf on Tuesday emphasised the need for optimum utilisation of research and technology and urged the agricultural scientists to help the farmers achieve a quantum jump in per acre yield of crops to improve agriculture sector
Published 13 Dec, 2006 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

The average price of Bangladesh teas fell 2.76 percent to 100.42 taka ($1.44) per kg on lower demand at a weekly auction on Tuesday, brokers said.
Published 13 Dec, 2006 12:00am
Musharraf urges agriculture scientists to help raise per-acre yield

Musharraf urges agriculture scientists to help raise per-acre yield

President General Pervez Musharraf on Tuesday emphasised the need for optimum utilisation of research and technology and urged the agricultural scientists to help the farmers achieve a quantum jump in per acre yield of crops to improve agriculture sector
Published 13 Dec, 2006 12:00am
Grain exports from port of Rouen

Grain exports from port of Rouen

Grain exports from the French port of Rouen totalled 57,259 tonnes from December 1-6, all wheat, port officials said on Monday. Exports totalled 546,000 tonnes in the whole of December 2005, comprised of 449,000 tonnes of wheat and 97,000 tonnes of barley
Published 13 Dec, 2006 12:00am
Musharraf urges agriculture scientists to help raise per-acre yield

Musharraf urges agriculture scientists to help raise per-acre yield

President General Pervez Musharraf on Tuesday emphasised the need for optimum utilisation of research and technology and urged the agricultural scientists to help the farmers achieve a quantum jump in per acre yield of crops to improve agriculture sector
Published 13 Dec, 2006 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices fell on Tuesday, but the differential to fuel oil cargoes floated at a discount of $2-$3 a tonne, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $260-$262 a tonne, with its differential to fuel oil narrowi
Published 13 Dec, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 92,284 tonnes cargo including 67,454 tonnes import, 24,830 tonnes export cargo and 1,824 containers during last 24 hours ending at 0700 hours on Tuesday.
Published 13 Dec, 2006 12:00am
Traders urge Ukraine government to free feed grain sales

Traders urge Ukraine government to free feed grain sales

Ukraine's grain exports should reach 11 million tonnes in 2006/07 and the government must abolish export restrictions for feed wheat, barley and maize, the UZA grain traders' union said on Tuesday.
Published 13 Dec, 2006 12:00am
India, China to spur global jewellery demand

India, China to spur global jewellery demand

Global jewellery sales have the potential to grow by almost 7 percent annually to reach $280 billion by 2015, spurred by India and China, an industry study said on Tuesday.
Published 13 Dec, 2006 12:00am
US Midwest soya lower, corn down

US Midwest soya lower, corn down

Spot soyabean basis bids were lower at some US Midwest locations on Monday after a rally in CBOT futures and a pick up in movement, traders said. Rail corn prices were lower amid weak demand from poultry and cattle feeders, who seemed well covered to last
Published 13 Dec, 2006 12:00am
FOB Gulf soyabean premiums fall

FOB Gulf soyabean premiums fall

US FOB soyabean export premiums fell on Monday due to a seasonal slowdown in activity, while corn basis offers held steady, traders said. The lack of grain moving pressured soyabean values in the CIF barge market.
Published 13 Dec, 2006 12:00am
South African white maize slips

South African white maize slips

South Africa's most traded white maize futures edged down on Tuesday on signs that part of the coming year's harvest is doing well and after steady gains over the past few sessions.
Published 13 Dec, 2006 12:00am
CBOT wheat futures up

CBOT wheat futures up

Wheat futures on the Chicago Board of Trade closed higher on Monday on a short-covering bounce from early declines along with spillover strength from corn and soybeans, traders said.
Published 13 Dec, 2006 12:00am
CBOT corn ends up, soya rally boosts

CBOT corn ends up, soya rally boosts

Corn futures at the Chicago Board of Trade closed higher on Monday on a recovery from the declines last week and on a strong rally in soyabeans, traders said.
Published 13 Dec, 2006 12:00am
Oil cake market rates

Oil cake market rates

Modest trading was seen on the forward cottonseed oilcake market on Tuesday as the January vaida opened at Rs 686.50. Later, it gained 50 paisa to be day's best at Rs 787.00 and market settled at the same level. In process of trading, it shed Rs 1.10 to b
Published 13 Dec, 2006 12:00am
KCA raises cotton spot rate by Rs 25

KCA raises cotton spot rate by Rs 25

Karachi Cotton Association's official spot rate was raised on quality factor, dealers said on Tuesday. The official spot rate rose by Rs 25 t0 Rs 2,550, without upcountry expenses. The prices of phutti were also higher slightly in the Punjab and Sindh. A
Published 13 Dec, 2006 12:00am
Gram prices higher on grain market

Gram prices higher on grain market

Grams prices were higher on the local grain market on Tuesday as supply was tight due to shortage of transport, dealers said. On the grams side, gram garda Punjab gained Rs 75 to Rs 3375-3475, gram dal Punjab was up by Rs 100 to Rs 4000-4100. Beetle chana
Published 13 Dec, 2006 12:00am
Jute goods down on Jodia Bazar

Jute goods down on Jodia Bazar

The trading on jute goods ended down on Jodia Bazar here, on Tuesday. The following variations were noted.
Published 13 Dec, 2006 12:00am
Asian oil products fall

Asian oil products fall

Asian oil product swaps fell on Tuesday, while the naphtha/Brent crack held firm amid spot demand from end users. December naphtha swaps fell 45 cents at $58.90 a barrel, while the December/January backwardation widened by 5 cents to 30 cents from the pre
Published 13 Dec, 2006 12:00am
Asian Naphtha lower on Middle East

Asian Naphtha lower on Middle East

Asian naphtha prices fell on Tuesday along with its premium against Brent crude as Middle East and Indian supply continued strong, traders said on Tuesday. Benchmark open-spec second-half January naphtha was valued at $556.00 a tonne on a cost-and-freight
Published 13 Dec, 2006 12:00am
New York coffee closes firm

New York coffee closes firm

Benchmark March arabica coffee futures surged on Monday to a high dating back to February on fund buying that triggered buy stops, traders said. "Fund buying broke some stops and we broke $1.2890 (per lb.), which was the previous high. With no selling, it
Published 13 Dec, 2006 12:00am
New York cocoa closes firm

New York cocoa closes firm

US cocoa futures contracts closed near the session's highs on Monday, after late-day fund buying boosted prices, traders said. "There's a small amount of short-covering still. The big move is really macro fund investment," one trader said.
Published 13 Dec, 2006 12:00am
MGE wheat higher on technicals

MGE wheat higher on technicals

Spring wheat futures on the Minneapolis Grain Exchange closed higher on Monday on a technical short-covering bounce after selling was exhausted, traders said. Strength in outside markets including Chicago wheat and corn added support, traders said.
Published 13 Dec, 2006 12:00am
Vietnam coffee prices flat

Vietnam coffee prices flat

Coffee prices in Vietnam were flat on Tuesday, with gains from London robusta offset by fresh beans coming onto the market after more than half of the country's bumper crop had been harvested, traders said.
Published 13 Dec, 2006 12:00am
Comex copper closes strong

Comex copper closes strong

Copper futures ended in New York with healthy gains on Monday as speculative players covered short positions following news that union workers at Chile's Altonorte smelter may strike on Tuesday, traders said.
Published 13 Dec, 2006 12:00am
US gold up as dollar turns lower

US gold up as dollar turns lower

Gold ended higher in quiet trade after seesawing on Monday, as investors used the falling dollar as an excuse to bargain-hunt while looking for cues from US economic indicators expected later this week.
Published 13 Dec, 2006 12:00am
Tokyo gold posts gains

Tokyo gold posts gains

Tokyo gold futures edged up on Tuesday as traders adjusted their positions ahead of a Federal Open Market Committee meeting, with the metal gaining overall support as investors seek an alternative to the fragile dollar.
Published 13 Dec, 2006 12:00am
Gold off three-week low in Asian markets

Gold off three-week low in Asian markets

Gold gyrated ahead of Tuesday's Federal Open Market Committee meeting, which will offer hints as to the dollar's outlook and determine the metal's next direction.
Published 13 Dec, 2006 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin closed down $80 at $11,220 on Tuesday, in reaction to an all-time high hit the previous day, although prices in London were unchanged, one dealer said.
Published 13 Dec, 2006 12:00am
CBOT rice ends firm

CBOT rice ends firm

Rough rice futures at the Chicago Board of Trade closed firm on Monday, supported by the government cutting its US ending stocks estimate, traders said.
Published 13 Dec, 2006 12:00am
Oil steady above $61

Oil steady above $61

Oil steadied over $61 on Tuesday, supported by the potential for an Opec supply cut this week after mild weather and high inventories in the United States had pushed prices down. United States crude prices traded steady at $61.22 a barrel after losing 81
Published 13 Dec, 2006 12:00am
Shanghai copper tracks London higher

Shanghai copper tracks London higher

Shanghai copper futures rose on Tuesday and London copper edged higher in light trade ahead of a US interest rate decision. Chinese copper futures prices were higher, with the most active February contract up 0.74 percent, or 470 yuan, at 64,170 yuan ($8,
Published 13 Dec, 2006 12:00am
New York sugar finishes mixed

New York sugar finishes mixed

Raw sugar futures settled mixed on Monday as trade buying nudged the front contracts into positive territory although operators feel commodity funds may eventually press the market lower in the days ahead.
Published 13 Dec, 2006 12:00am
Soya posts double-digit climb

Soya posts double-digit climb

The Chicago Board of Trade soyabean market saw a double-digit rise on Monday as traders covered short positions, partially spurred by a bigger-than-expected weekly export inspections figure, traders said. Shortly after the open, the US Agriculture Departm
Published 13 Dec, 2006 12:00am
Australian wool indicator up

Australian wool indicator up

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) rose 4 cents to 829c a kg clean at sales on Tuesday. AWEX said its northern indicator at sales in Sydney gained 6 cents to 853c/kg, while the southern indicator at sales in Melbou
Published 13 Dec, 2006 12:00am
USDA crop report on cotton

USDA crop report on cotton

The US Department of Agriculture released its monthly December production and supply/demand report Monday morning. The following are the key points for cotton: 2006/07 US crop - 21.30 million (480-lb) bales, from 21.30 million bales last month.
Published 13 Dec, 2006 12:00am
Tokyo rubber bounces from low

Tokyo rubber bounces from low

Tokyo rubber futures rebounded on Tuesday after falling sharply on profit-taking in early trade as strong Technicals induced bargain-hunting, with growing wariness over supplies providing additional support.
Published 13 Dec, 2006 12:00am