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Print - 2007-01-30
Etihad Airways to fly to Sydney

Etihad Airways to fly to Sydney

Abu Dhabi-based Etihad Airways will operate three weekly non-stop flights to Sydney starting on March 26, the airline said Monday. Airbus A340-500 aircraft will be used on the service to the Australian city, which will become daily from June 29, it said i
Published 30 Jan, 2007 12:00am
CBR may appoint Usman Khalid as private member

CBR may appoint Usman Khalid as private member

The Central Board of Revenue (CBR) may appoint Usman Khalid Mirza, a grade-21 official of Income Tax Group as a private member. Sources told Business Recorder on Monday that the board is likely to appoint Mirza, Director General Inspection and Inte
Published 30 Jan, 2007 12:00am
CBR may appoint Usman Khalid as private member

CBR may appoint Usman Khalid as private member

The Central Board of Revenue (CBR) may appoint Usman Khalid Mirza, a grade-21 official of Income Tax Group as a private member. Sources told Business Recorder on Monday that the board is likely to appoint Mirza, Director General Inspection and Inte
Published 30 Jan, 2007 12:00am
CBR may appoint Usman Khalid as private member

CBR may appoint Usman Khalid as private member

The Central Board of Revenue (CBR) may appoint Usman Khalid Mirza, a grade-21 official of Income Tax Group as a private member. Sources told Business Recorder on Monday that the board is likely to appoint Mirza, Director General Inspection and Inte
Published 30 Jan, 2007 12:00am
Solar water purification plants inaugurated

Solar water purification plants inaugurated

The Nice Link Trust inaugurated its eight project of installing water desalination plant and water desalination through solar system at Ibrahim Haidry and Rehri here the other day.
Published 30 Jan, 2007 12:00am
Solar water purification plants inaugurated

Solar water purification plants inaugurated

The Nice Link Trust inaugurated its eight project of installing water desalination plant and water desalination through solar system at Ibrahim Haidry and Rehri here the other day.
Published 30 Jan, 2007 12:00am
Sanofi, Bristol-Myers sign pre-merger deal

Sanofi, Bristol-Myers sign pre-merger deal

Sanofi-Aventis and Bristol-Myers Squibb Co could announce a friendly merger deal within the next few weeks to create the world's biggest drugs company, according to a report on Monday. In an unsourced story, French financial newsletter La Lettre de l'Expa
Published 30 Jan, 2007 12:00am
Plant Breeders'' Rights Act: Minfal to submit draft to cabinet

Plant Breeders'' Rights Act: Minfal to submit draft to cabinet

The Ministry of Food, Agriculture and Livestock (Minfal) will present draft copy of Plant Breeders'' Rights Act to the federal cabinet for its approval, Business Recorder learnt on Monday. "The proposed act is likely to be laid before the cabinet i
Published 30 Jan, 2007 12:00am
Plant Breeders' Rights Act: Minfal to submit draft to cabinet

Plant Breeders' Rights Act: Minfal to submit draft to cabinet

The Ministry of Food, Agriculture and Livestock (Minfal) will present draft copy of Plant Breeders' Rights Act to the federal cabinet for its approval, Business Recorder learnt on Monday. "The proposed act is likely to be laid before the cabinet in
Published 30 Jan, 2007 12:00am
Plant Breeders' Rights Act: Minfal to submit draft to cabinet

Plant Breeders' Rights Act: Minfal to submit draft to cabinet

The Ministry of Food, Agriculture and Livestock (Minfal) will present draft copy of Plant Breeders' Rights Act to the federal cabinet for its approval, Business Recorder learnt on Monday. "The proposed act is likely to be laid before the cabinet in
Published 30 Jan, 2007 12:00am
Philips wins permission to buy Belgium's PLI

Philips wins permission to buy Belgium's PLI

Philips Electronics won permission from the European Commission on Monday to buy Belgian lamp and light fittings maker Partners in Lighting (PLI) from private equity group CVC Capital Partners.
Published 30 Jan, 2007 12:00am
Rockets hit Panjgur airport, FC camp

Rockets hit Panjgur airport, FC camp

Unknown terrorists fired seven rockets, targeting Panjgur airport and FC camp on Monday morning. Rockets firing jolted the city and people came out of their houses. Four rockets hit MT section in FC camp located in the heart of city. It caused holes in th
Published 30 Jan, 2007 12:00am
Rockets hit Panjgur airport, FC camp

Rockets hit Panjgur airport, FC camp

Unknown terrorists fired seven rockets, targeting Panjgur airport and FC camp on Monday morning. Rockets firing jolted the city and people came out of their houses. Four rockets hit MT section in FC camp located in the heart of city. It caused holes in th
Published 30 Jan, 2007 12:00am
Tyson Foods posts profit

Tyson Foods posts profit

Tyson Foods Inc, the largest US meat company, on Monday said quarterly profit rose 46 percent to beat Wall Street estimates by a large margin as cost-cutting measures kicked in, and the company's shares gained more than 5 percent.
Published 30 Jan, 2007 12:00am
Tyson Foods posts profit

Tyson Foods posts profit

Tyson Foods Inc, the largest US meat company, on Monday said quarterly profit rose 46 percent to beat Wall Street estimates by a large margin as cost-cutting measures kicked in, and the company's shares gained more than 5 percent.
Published 30 Jan, 2007 12:00am
''Pakistan now better placed for foreign investors''

''Pakistan now better placed for foreign investors''

Reforms introduced in last three years have transformed Pakistan into an attractive destination for foreign investment and the country is attracting foreign investment as compared to other countries of the world.
Published 30 Jan, 2007 12:00am
'Pakistan now better placed for foreign investors'

'Pakistan now better placed for foreign investors'

Reforms introduced in last three years have transformed Pakistan into an attractive destination for foreign investment and the country is attracting foreign investment as compared to other countries of the world.
Published 30 Jan, 2007 12:00am
'Pakistan now better placed for foreign investors'

'Pakistan now better placed for foreign investors'

Reforms introduced in last three years have transformed Pakistan into an attractive destination for foreign investment and the country is attracting foreign investment as compared to other countries of the world.
Published 30 Jan, 2007 12:00am
Shilpa wins British TV show after race row

Shilpa wins British TV show after race row

Bollywood actress Shilpa Shetty sought to put a racist bullying row behind her after winning Britain's "Celebrity Big Brother" television show, a triumph tipped to elevate her career beyond India's silver screen.
Published 30 Jan, 2007 12:00am
Shilpa wins British TV show after race row

Shilpa wins British TV show after race row

Bollywood actress Shilpa Shetty sought to put a racist bullying row behind her after winning Britain's "Celebrity Big Brother" television show, a triumph tipped to elevate her career beyond India's silver screen.
Published 30 Jan, 2007 12:00am
Four Russian troops killed in Chechnya

Four Russian troops killed in Chechnya

Four Russian servicemen and one Chechen rebel were killed on Monday in clashes in the southern region of Chechnya, media reported. Interfax news agency said a group of Russian soldiers came under fire during a special operation against militants in a fore
Published 30 Jan, 2007 12:00am
Hillary Clinton wins converts, faces questions in Iowa

Hillary Clinton wins converts, faces questions in Iowa

Hillary Rodham Clinton won new converts and thrilled old fans with a polished performance on her first campaign foray to Iowa, but left plenty of questions for Democrats evaluating the crowded field of White House contenders.
Published 30 Jan, 2007 12:00am
Prince Charles given environment award in US

Prince Charles given environment award in US

Britain's Prince Charles accepted an award here Sunday for his years-long environmental efforts, even as his transatlantic flight to America was criticised as an ecologically harmful junket.
Published 30 Jan, 2007 12:00am
Paper companies Abitibi and Bowater to merge

Paper companies Abitibi and Bowater to merge

US paper company Bowater Inc will merge with Canadian peer Abitibi-Consolidated Inc, creating North America's largest newsprint maker in a bid to revive the struggling business, the companies said on Monday.
Published 30 Jan, 2007 12:00am
Mattel posts higher quarterly profit

Mattel posts higher quarterly profit

Mattel Inc, the largest US toymaker, posted a higher-than-expected fourth-quarter profit on Monday as sales of its T.M.X Elmo and Barbie line jumped during the holiday quarter, sending its shares to a new 52-week high.
Published 30 Jan, 2007 12:00am
Mattel posts higher quarterly profit

Mattel posts higher quarterly profit

Mattel Inc, the largest US toymaker, posted a higher-than-expected fourth-quarter profit on Monday as sales of its T.M.X Elmo and Barbie line jumped during the holiday quarter, sending its shares to a new 52-week high.
Published 30 Jan, 2007 12:00am
Canadian manufacturers upbeat on sales, woes remain

Canadian manufacturers upbeat on sales, woes remain

Canadian manufacturers see sales rising in the first quarter of this year and fewer impediments to production, but their overall outlook remains largely negative, a Statistics Canada survey showed on Monday.
Published 30 Jan, 2007 12:00am
Indonesia sees new urgency for trade talks deal

Indonesia sees new urgency for trade talks deal

Indonesia's trade minister said on Monday she was cautiously optimistic about the prospects for world trade talks, saying there was a renewed sense of commitment and urgency to reach a deal.
Published 30 Jan, 2007 12:00am
MTC's Celtel to invest $1.4 billion in Nigerian unit

MTC's Celtel to invest $1.4 billion in Nigerian unit

Africa's number three mobile phone operator, Celtel, will inject an additional $1.4 billion into its Nigerian unit this year with a view to increasing its subscriber base, the company said on Monday.
Published 30 Jan, 2007 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed on Tuesday, January 30, on account of Ashura. There will, therefore, be no issue of the paper on Wednesday, January 31.
Published 30 Jan, 2007 12:00am
Ashura being observed today

Ashura being observed today

Ashura, the 10th of Muharram is being observed on Tuesday with reverence and solemnity throughout the country amid stringent security measures adopted by the law-enforcement agencies.
Published 30 Jan, 2007 12:00am
Ashura being observed today

Ashura being observed today

Ashura, the 10th of Muharram is being observed on Tuesday with reverence and solemnity throughout the country amid stringent security measures adopted by the law-enforcement agencies.
Published 30 Jan, 2007 12:00am
Pakistan Steel sell-off postponed for a year: IPO scheme finalised

Pakistan Steel sell-off postponed for a year: IPO scheme finalised

The government has shelved the Pakistan Steel Mills Corporation (PSMC) strategic sell-off plan for one year and approved a scheme for its initial public offering (IPO) through bourses for 10 percent shares with additional 10 percent shares as green shoe o
Published 30 Jan, 2007 12:00am
Pakistan Steel sell-off postponed for a year: IPO scheme finalised

Pakistan Steel sell-off postponed for a year: IPO scheme finalised

The government has shelved the Pakistan Steel Mills Corporation (PSMC) strategic sell-off plan for one year and approved a scheme for its initial public offering (IPO) through bourses for 10 percent shares with additional 10 percent shares as green shoe o
Published 30 Jan, 2007 12:00am
Pakistan Steel sell-off postponed for a year: IPO scheme finalised

Pakistan Steel sell-off postponed for a year: IPO scheme finalised

The government has shelved the Pakistan Steel Mills Corporation (PSMC) strategic sell-off plan for one year and approved a scheme for its initial public offering (IPO) through bourses for 10 percent shares with additional 10 percent shares as green shoe o
Published 30 Jan, 2007 12:00am
Pakistan Steel sell-off postponed for a year: IPO scheme finalised

Pakistan Steel sell-off postponed for a year: IPO scheme finalised

The government has shelved the Pakistan Steel Mills Corporation (PSMC) strategic sell-off plan for one year and approved a scheme for its initial public offering (IPO) through bourses for 10 percent shares with additional 10 percent shares as green shoe o
Published 30 Jan, 2007 12:00am
Cabinet gives moneychangers right of appeal

Cabinet gives moneychangers right of appeal

The federal cabinet has given the right of appeal to moneychangers found guilty of violating Foreign Exchange Regulation Act (Fera) 1947, official sources told Business Recorder.
Published 30 Jan, 2007 12:00am
Cabinet gives moneychangers right of appeal

Cabinet gives moneychangers right of appeal

The federal cabinet has given the right of appeal to moneychangers found guilty of violating Foreign Exchange Regulation Act (Fera) 1947, official sources told Business Recorder.
Published 30 Jan, 2007 12:00am
Cabinet gives moneychangers right of appeal

Cabinet gives moneychangers right of appeal

The federal cabinet has given the right of appeal to moneychangers found guilty of violating Foreign Exchange Regulation Act (Fera) 1947, official sources told Business Recorder.
Published 30 Jan, 2007 12:00am
Gold import down by 53 percent last month

Gold import down by 53 percent last month

Gold import has declined by 53 percent during December 2006 as compared to the corresponding period in 2005, due to rising price of the yellow metal in the international market. Analysts say that during the last six months the price of gold has been movin
Published 30 Jan, 2007 12:00am
Gold import down by 53 percent last month

Gold import down by 53 percent last month

Gold import has declined by 53 percent during December 2006 as compared to the corresponding period in 2005, due to rising price of the yellow metal in the international market. Analysts say that during the last six months the price of gold has been movin
Published 30 Jan, 2007 12:00am
Gold import down by 53 percent last month

Gold import down by 53 percent last month

Gold import has declined by 53 percent during December 2006 as compared to the corresponding period in 2005, due to rising price of the yellow metal in the international market. Analysts say that during the last six months the price of gold has been movin
Published 30 Jan, 2007 12:00am
DHAs reluctant to provide property data to MTUs

DHAs reluctant to provide property data to MTUs

The Defence Housing Authorities (DHAs) and real estate registration office in the provinces are reluctant to provide property buying/selling data to the income tax authorities for brining them into the tax net.
Published 30 Jan, 2007 12:00am
DHAs reluctant to provide property data to MTUs

DHAs reluctant to provide property data to MTUs

The Defence Housing Authorities (DHAs) and real estate registration office in the provinces are reluctant to provide property buying/selling data to the income tax authorities for brining them into the tax net.
Published 30 Jan, 2007 12:00am
DHAs reluctant to provide property data to MTUs

DHAs reluctant to provide property data to MTUs

The Defence Housing Authorities (DHAs) and real estate registration office in the provinces are reluctant to provide property buying/selling data to the income tax authorities for brining them into the tax net.
Published 30 Jan, 2007 12:00am
Relief package for textile sector likely this week

Relief package for textile sector likely this week

The Prime Minister Shaukat Aziz is likely to announce a relief package for the textile sector this week. The long-awaited textile package is likely to overcome the present difficulties being faced by the sector, owing to tough competition from China, Indi
Published 30 Jan, 2007 12:00am
Relief package for textile sector likely this week

Relief package for textile sector likely this week

The Prime Minister Shaukat Aziz is likely to announce a relief package for the textile sector this week. The long-awaited textile package is likely to overcome the present difficulties being faced by the sector, owing to tough competition from China, Indi
Published 30 Jan, 2007 12:00am
Relief package for textile sector likely this week

Relief package for textile sector likely this week

The Prime Minister Shaukat Aziz is likely to announce a relief package for the textile sector this week. The long-awaited textile package is likely to overcome the present difficulties being faced by the sector, owing to tough competition from China, Indi
Published 30 Jan, 2007 12:00am
Rocket attack near Imambargah injures 12

Rocket attack near Imambargah injures 12

At least 12 people were injured when two rockets fired by suspected militants struck near a Imambargah in Bannu on Monday, police said. "Twelve people were wounded in the rocket attacks, which apparently targeted a Shia worship place in the city," a senio
Published 30 Jan, 2007 12:00am
Rocket attack near Imambargah injures 12

Rocket attack near Imambargah injures 12

At least 12 people were injured when two rockets fired by suspected militants struck near a Imambargah in Bannu on Monday, police said. "Twelve people were wounded in the rocket attacks, which apparently targeted a Shia worship place in the city," a senio
Published 30 Jan, 2007 12:00am
Cash-rich Gulf corporates eye Asia for expansion

Cash-rich Gulf corporates eye Asia for expansion

Cash-rich Gulf Arab corporates are looking to spend billions of dollars to buy up competitors and expand this year as the region's economy reaps a windfall from skyrocketing oil prices since 2001.
Published 30 Jan, 2007 12:00am
Future of trade bodies uncertain

Future of trade bodies uncertain

The future of trade bodies hang in balance due to inordinate delay in the announcement of rules governing their future set-up as enunciated under the Trade Organisations Ordinance (TOO) - 2006.
Published 30 Jan, 2007 12:00am
Future of trade bodies uncertain

Future of trade bodies uncertain

The future of trade bodies hang in balance due to inordinate delay in the announcement of rules governing their future set-up as enunciated under the Trade Organisations Ordinance (TOO) - 2006.
Published 30 Jan, 2007 12:00am
Future of trade bodies uncertain

Future of trade bodies uncertain

The future of trade bodies hang in balance due to inordinate delay in the announcement of rules governing their future set-up as enunciated under the Trade Organisations Ordinance (TOO) - 2006.
Published 30 Jan, 2007 12:00am
Saudi Arabia names new ambassador to US

Saudi Arabia names new ambassador to US

Saudi Arabia on Monday announced that Adel al-Jubeir, an advisor to King Abdullah, has been named as its new ambassador to the United States, the oil-rich kingdom's top diplomatic posting.
Published 30 Jan, 2007 12:00am
Pakistan and Belgium to expand trade relations

Pakistan and Belgium to expand trade relations

Pakistan and Belgium on Monday decided to expand co-operation for increasing their political, diplomatic, trade, economic and cultural relations for the benefit of people of two countries.
Published 30 Jan, 2007 12:00am
Pakistan and Belgium to expand trade relations

Pakistan and Belgium to expand trade relations

Pakistan and Belgium on Monday decided to expand co-operation for increasing their political, diplomatic, trade, economic and cultural relations for the benefit of people of two countries.
Published 30 Jan, 2007 12:00am
Pakistan and Belgium to expand trade relations

Pakistan and Belgium to expand trade relations

Pakistan and Belgium on Monday decided to expand co-operation for increasing their political, diplomatic, trade, economic and cultural relations for the benefit of people of two countries.
Published 30 Jan, 2007 12:00am
The Weather

The Weather

The weather report on Monday (January 29, 2007) and the forecast for Tuesday (January 30, 2007).
Published 30 Jan, 2007 12:00am
New York Cotton Rates

New York Cotton Rates

Monday's closing prices of New York cotton in US cents/lb.

Published 30 Jan, 2007 12:00am
New York Cotton Rates

New York Cotton Rates

Monday's closing prices of New York cotton in US cents/lb.

Published 30 Jan, 2007 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 30 Jan, 2007 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 20th January 2007

Published 30 Jan, 2007 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 20th January 2007

Published 30 Jan, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (January 29, 2007).

Published 30 Jan, 2007 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended on Monday (January 29, 2007).
Published 30 Jan, 2007 12:00am
Brazilian coffee set for another wet week

Brazilian coffee set for another wet week

A new cold weather front moving north through Brazil's main coffee belt will bring more heavy rain to Minas Gerais and other important producer states, private meteorologist Somar predicted Monday.
Published 30 Jan, 2007 12:00am
Asia to drive growth of GMO crops

Asia to drive growth of GMO crops

Asia will be the driving force behind biotech crops in the next 10 years, despite China's hesitancy about approving gene-modified rice, a Chinese scientist and an international body said on Monday.
Published 30 Jan, 2007 12:00am
Asian naphtha prices edge up

Asian naphtha prices edge up

Asian naphtha prices edged up on rises in oil futures prices on Monday, while the premium against ICE Brent continued to ease as some end-users had preferred alternative cheaper cargoes.
Published 30 Jan, 2007 12:00am
Japanese, South Korean corn buyers likely to keep low profile

Japanese, South Korean corn buyers likely to keep low profile

Japanese and South Korean corn buyers are likely to keep a low profile this week in hopes that their importing costs will fall further, industry sources said. Demand for Chinese feed wheat, an alternative to feed corn, from South Korean grain importers se
Published 30 Jan, 2007 12:00am
Rains persist over Brazil's CW soya belt

Rains persist over Brazil's CW soya belt

Rain should continue over Brazil's center-west soyabean belt this week, as the region gears up to begin harvesting on a wider scale, meteorologist Somar predicted Monday.
Published 30 Jan, 2007 12:00am
Indonesian palm oil producers oppose export curbs

Indonesian palm oil producers oppose export curbs

Indonesian palm oil producers are urging the government not to raise export taxes or apply export quotas to secure supplies for domestic refiners, saying such moves would hurt overseas demand, an industry official said on Monday.
Published 30 Jan, 2007 12:00am
Hyundai steel in talks with ThyssenKrupp

Hyundai steel in talks with ThyssenKrupp

Hyundai Steel Co, South Korea's second-biggest steel maker, said on Monday it is in talks with Japan's No 2 maker JFE Steel Co and Germany's ThyssenKrupp to broaden ties, but no details have been set.
Published 30 Jan, 2007 12:00am
Grain exports from port of Rouen

Grain exports from port of Rouen

Grain exports from the French port of Rouen totalled 532,720 tonnes for January 1-24, comprising 506,370 tonnes of wheat and 26,350 tonnes of barley, port officials said on Monday.
Published 30 Jan, 2007 12:00am
Dubai wins Chinese port project

Dubai wins Chinese port project

Dubai Ports World has won regulatory approval to build a 3.48 billion yuan ($448 million) container port project in east China, the country's top economic planner said on Monday.
Published 30 Jan, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday, with differentials to fuel oil cargo values firmer at $9-10, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $283-$285 a tonne, while its differential to fuel oil stood at $9.40 a tonne, up
Published 30 Jan, 2007 12:00am
Russian gold output to fall

Russian gold output to fall

Russian gold output is expected to fall 2-4 percent this year, the third consecutive year of decline, as open-pit placer deposits are becoming depleted, the head of the country's main industry lobby said on Monday.
Published 30 Jan, 2007 12:00am
Clean tanker rates continue slide

Clean tanker rates continue slide

Asian spot freight rates for mid-sized clean tankers loading from the Middle East continued a slide on Monday versus week-ago levels, as naphtha loadings remained thin for January.
Published 30 Jan, 2007 12:00am
Shanghai copper closes up

Shanghai copper closes up

Shanghai copper futures rose 1.65 percent on Monday, in volatile trade as the market reacted to sales of physical copper, dealers said. "Shanghai futures dipped briefly at midday when physical premiums dropped. There are bits and pieces of business like t
Published 30 Jan, 2007 12:00am
Tocom gold futures up

Tocom gold futures up

Tokyo precious metals futures rose on Monday as the yen's decline to a four-year low fuelled across-the-board buying, prompting the key gold contract to revisit the 8-month high touched last week.
Published 30 Jan, 2007 12:00am
Gold rebounds in slow trade

Gold rebounds in slow trade

Gold bounced back on Monday, tracking a rise in Japanese futures, but a firm dollar ahead of a meeting of the US Federal Reserve capped gains and the metal struggled to recapture the $650 level hit last week.
Published 30 Jan, 2007 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin fell 1.3 percent on Monday, snapping an eight-day rally that lifted prices to record highs. A dealer said sustained Japanese and European demand helped cushion the fall.
Published 30 Jan, 2007 12:00am
Asian distillates surge

Asian distillates surge

Asian middle distillates rose on Monday in tandem with crude futures, but the regrade weakened to nearly a 7-month low on gas oil's strength, slack heating fuel demand in Japan and growing jet fuel supplies.
Published 30 Jan, 2007 12:00am