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Print - 2007-02-06
Bomb blast kills two tribal elders

Bomb blast kills two tribal elders

A remote-controlled bomb killed two pro-government tribal elders and wounded another on Monday in Bajaur, security officials said. The officials said the elders were apparently targeted for supporting Islamabad's efforts to purge the semi-autonomous front
Published 06 Feb, 2007 12:00am
Nielsen named as Australia's new coach

Nielsen named as Australia's new coach

Tim Nielsen will become coach of Australia's Test and one-day cricket team when John Buchanan retires after next month's World Cup, Cricket Australia said Monday. Nielsen, 38, is head coach at the Centre of Excellence in Brisbane, which includes managing
Published 06 Feb, 2007 12:00am
Ponting wins Allan Border Medal

Ponting wins Allan Border Medal

Australia captain Ricky Ponting was awarded the Allan Border medal on Monday as the country's best cricketer over the past year. Ponting won the country's top individual award for the third time in the past four years to cap a memorable season in which he
Published 06 Feb, 2007 12:00am
Mumbai crush Bengal to win Ranji Trophy

Mumbai crush Bengal to win Ranji Trophy

Mumbai won India's domestic first-class cricket championship for a record 37th time on Monday. The hosts beat Bengal by 132 runs with a day to spare to regain the coveted Ranji Trophy, the country's premier inter-state competition.
Published 06 Feb, 2007 12:00am
Ongondo and Odoyo lead Kenya to Canada rout

Ongondo and Odoyo lead Kenya to Canada rout

Peter Ongondo returned one-day career best figures of 5-51 to lead Kenya to a crushing 158-run victory over Canada in the World Cricket League tournament on Monday. The fast-medium pacer, with sterling support from bowling partner Thomas Odoyo (4-39), hel
Published 06 Feb, 2007 12:00am
Rain keeps pouring on Brazil's coffee farms

Rain keeps pouring on Brazil's coffee farms

Heavy rain will fall this week on Brazil's coffee farms from northern Parana to south Minas, aiding growth of this year's crop, private meteorologist Somar predicted Monday.
Published 06 Feb, 2007 12:00am
Tanzania coffee prices ease

Tanzania coffee prices ease

Tanzania's coffee prices eased at last week's auction, undermined by lower bean quality, traders said on Monday. The Tanzania Coffee Board (TCB) said 26,440 60-kg bags were offered for sale, with 23,005 sold. At the previous auction, 31,756 60-kg bags wer
Published 06 Feb, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday, supported by thin supplies, while the differential to fuel oil cargo values jumped to $21-$22 a tonne, traders said.
Published 06 Feb, 2007 12:00am
Egypt closes four ports

Egypt closes four ports

Four of Egypt's Red Sea ports were closed on Monday because of bad weather, just hours after reopening, an official with the Red Sea ports authority said. The official, who declined to be named, said the ports of Tawfik, el-Adabia, el-Zeitia and Nuweiba h
Published 06 Feb, 2007 12:00am
Clean tanker rates mixed in Asia

Clean tanker rates mixed in Asia

Spot freight rates for mid-sized clean tankers in Asia were mixed on Monday, with US arbitrage fixtures failing to lift intra-Asian routes but Middle East bookings supported by healthy pre-holiday demand.
Published 06 Feb, 2007 12:00am
Black Sea port cuts shipments

Black Sea port cuts shipments

Shipments of refined products from Georgia's Black Sea port of Poti fell in 2006, but are likely to bounce back in 2007 due to rising volumes of Turkmen low sulphur diesel, a Georgian official said on Monday.
Published 06 Feb, 2007 12:00am
World sugar prices seen facing surplus pressure

World sugar prices seen facing surplus pressure

World sugar prices may a period of weakness in the next two years given an expected surplus of 5-7 million tonnes in 2007, Switzerland-based consultant Jonathan Kingsman said on Monday.
Published 06 Feb, 2007 12:00am
Ukraine may increase grain export quotas

Ukraine may increase grain export quotas

Ukraine's government may increase feed grain export quotas for the 2006/07 season after an additional valuation of current stocks, Agriculture Minister Yuri Melnyk was quoted as saying on Monday. "We are estimating the volumes of grain in stocks in a bid
Published 06 Feb, 2007 12:00am
South Korea fails to receive Indian soyameal

South Korea fails to receive Indian soyameal

A grain trading company based in Singapore failed to deliver 77,500 tonnes of low-priced Indian soyameal for December through February arrival to South Korean buyers, traders and industry sources said on Monday.
Published 06 Feb, 2007 12:00am
Russian nickel mine could start by 2011

Russian nickel mine could start by 2011

Amur Minerals Corp has set 2011 as the earliest date by which it could start mining nickel in Russia's Far East to supply fast-growing Asian markets, the company's chief financial officer said on Monday.
Published 06 Feb, 2007 12:00am
Indian wheat futures firm on weather; sugar eases

Indian wheat futures firm on weather; sugar eases

Wheat futures stayed firm on Monday, despite a planned release of government stocks, on worries hot weather would hit crop yields, while soyoil weakened on a lack of demand and sugar extended losses as supplies grew.
Published 06 Feb, 2007 12:00am
Spanish firm plans biofuel production in Bulgaria

Spanish firm plans biofuel production in Bulgaria

Spanish conglomerate Ferry Group plans to invest 42 million euros ($54.68 million) over the next three years to produce biomass-derived fuel in Bulgaria, the Bulgarian investment agency said on Monday.
Published 06 Feb, 2007 12:00am
Nigerian cocoa output up 18 percent

Nigerian cocoa output up 18 percent

Nigeria's cocoa output grew at an average of 18 percent a year in the last three years to 400,000 tonnes in 2006, President Olusegun Obasanjo said on Monday.
Published 06 Feb, 2007 12:00am
Malaysian palm oil jumps

Malaysian palm oil jumps

Malaysian crude palm oil futures surged almost 2 percent on Monday, extending last week's strong rally as rival soyoil continued to rise. The benchmark third-month April contract on the Bursa Malaysia Derivatives exchange was up 1.8 percent, or 35 ringgit
Published 06 Feb, 2007 12:00am
Tocom rubber down

Tocom rubber down

Tokyo rubber futures retreated from early gains on Monday, falling almost 1 percent as investors took profits. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery settled at 275.6 yen ($2.28) per kg, down 2.5 yen or 0.9 percent
Published 06 Feb, 2007 12:00am
Savola to start Egypt sugar plant

Savola to start Egypt sugar plant

Saudi Arabia's Savola Group expects to start up a sugar refinery in Egypt in August and to further expand its Saudi facility to meet rising domestic and regional demand, a senior company official said on Monday.
Published 06 Feb, 2007 12:00am
India imports 800,000 tonnes of wheat

India imports 800,000 tonnes of wheat

Private Indian firms have imported 800,000 tonnes of wheat since August, when they were allowed to tap overseas markets at zero duty, about half the amount they had hoped to buy, a senior official said on Monday. Further overseas purchases were unlikely,
Published 06 Feb, 2007 12:00am
Indonesian cooking oil up

Indonesian cooking oil up

Indonesian cooking oil prices were higher on Monday, buoyed by gains in the Malaysian market, but floods in Jakarta hampered deliveries to buyers. RBD palm olein was offered at around 5,900 rupiah ($0.651) a kg on Monday, compared with 5,765 rupiah on Fri
Published 06 Feb, 2007 12:00am
Taiwan copper premiums slip on slow demand

Taiwan copper premiums slip on slow demand

Taiwan spot copper premiums have slipped slightly since late last year as high carry-over stocks dampen sentiment and prompt traders to sell instead to China, where restocking is pushing up prices.
Published 06 Feb, 2007 12:00am
Oil off as Nigeria threat fades

Oil off as Nigeria threat fades

Oil retreated from a one-month high above $59 on Monday after last week's heady gains, with immediate concerns over Nigerian output easing but forecasts for a blast of cold weather in the United States limiting the drop.
Published 06 Feb, 2007 12:00am
Russia may import less Brazil sugar

Russia may import less Brazil sugar

Russia, the world's largest sugar importer, may import less of the commodity on higher domestic production, a Kazakhstan-based industry group said on Monday.
Published 06 Feb, 2007 12:00am
Tokyo gold falls

Tokyo gold falls

Tokyo gold futures dropped 1.4 percent on Monday as falls in industrial metals prices, including copper, prompted fund operators to lighten their positions in the yellow metal following last week's strong gains. But there were plenty of bargain-hunters ke
Published 06 Feb, 2007 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper futures closed 4 percent down on Monday, touching their daily downside limit after London futures lost nearly 5 percent on Friday on reports of large losses at a major hedge fund.
Published 06 Feb, 2007 12:00am
Majority owner of Mybank not to sell management stake to Tareen

Majority owner of Mybank not to sell management stake to Tareen

The majority owner of Mybank Iqbal Ali Mohammad has decided not to sell his management stake to Shaukat Tareen, it is reliably learnt. A document was signed between the two parties in late December last year which the seller claims was a memorandum of und
Published 06 Feb, 2007 12:00am
Asian naphtha prices higher

Asian naphtha prices higher

Asian naphtha prices rose on Monday, though its premium against Brent crude steadied in the absence of fresh demand, traders said. Benchmark open-spec naphtha for second-half March was quoted at about $565.50 a tonne, on a cost-and-freight (C&F) basis, up
Published 06 Feb, 2007 12:00am
Majority owner of Mybank not to sell management stake to Tareen

Majority owner of Mybank not to sell management stake to Tareen

The majority owner of Mybank Iqbal Ali Mohammad has decided not to sell his management stake to Shaukat Tareen, it is reliably learnt. A document was signed between the two parties in late December last year which the seller claims was a memorandum of und
Published 06 Feb, 2007 12:00am
Majority owner of Mybank not to sell management stake to Tareen

Majority owner of Mybank not to sell management stake to Tareen

The majority owner of Mybank Iqbal Ali Mohammad has decided not to sell his management stake to Shaukat Tareen, it is reliably learnt. A document was signed between the two parties in late December last year which the seller claims was a memorandum of und
Published 06 Feb, 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 (February 05, 2007).
Published 06 Feb, 2007 12:00am
Pakistan and Iran for early execution of IPI project

Pakistan and Iran for early execution of IPI project

President General Pervez Musharraf on Monday proposed a plan of action to bring about unity in the ranks of Ummah and to address major decisive issues in the region particularly Palestine, Lebanon and Iraq.
Published 06 Feb, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (February 05, 2007).

Published 06 Feb, 2007 12:00am
Pakistan and Iran for early execution of IPI project

Pakistan and Iran for early execution of IPI project

President General Pervez Musharraf on Monday proposed a plan of action to bring about unity in the ranks of Ummah and to address major decisive issues in the region particularly Palestine, Lebanon and Iraq.
Published 06 Feb, 2007 12:00am
Pakistan and Iran for early execution of IPI project

Pakistan and Iran for early execution of IPI project

President General Pervez Musharraf on Monday proposed a plan of action to bring about unity in the ranks of Ummah and to address major decisive issues in the region particularly Palestine, Lebanon and Iraq.
Published 06 Feb, 2007 12:00am
India wants time to consider gas price

India wants time to consider gas price

Iran said on Monday India had asked for more time to consider a price formula for Iranian gas to be supplied by a proposed $7 billion pipeline project that will also supply Pakistan.
Published 06 Feb, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 05, 2007).

Published 06 Feb, 2007 12:00am
India wants time to consider gas price

India wants time to consider gas price

Iran said on Monday India had asked for more time to consider a price formula for Iranian gas to be supplied by a proposed $7 billion pipeline project that will also supply Pakistan.
Published 06 Feb, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 05, 2007).

Published 06 Feb, 2007 12:00am
India wants time to consider gas price

India wants time to consider gas price

Iran said on Monday India had asked for more time to consider a price formula for Iranian gas to be supplied by a proposed $7 billion pipeline project that will also supply Pakistan.
Published 06 Feb, 2007 12:00am
US military in Iraq admits airstrike error

US military in Iraq admits airstrike error

US military officers offered their condolences on Monday to an Iraqi family south of Baghdad in a rare admission of error after killing two innocent Iraqis in an airstrike last Tuesday.
Published 06 Feb, 2007 12:00am
Ordinances promulgated

Ordinances promulgated

President General Pervez Musharraf has promulgated the Pakistan Engineering Council (PEC) (Amendment) Ordinance, 2007. Meanwhile, the Acting President Mohammedmian Soomro on Monday promulgated four Ordinances namely Banks Nationalisation (Amendment) Ordin
Published 06 Feb, 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 27th January 2007

Published 06 Feb, 2007 12:00am
Ordinances promulgated

Ordinances promulgated

President General Pervez Musharraf has promulgated the Pakistan Engineering Council (PEC) (Amendment) Ordinance, 2007. Meanwhile, the Acting President Mohammedmian Soomro on Monday promulgated four Ordinances namely Banks Nationalisation (Amendment) Ordin
Published 06 Feb, 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 27th January 2007

Published 06 Feb, 2007 12:00am
Trade deficit likely to peak at $8.8 billion: IMF

Trade deficit likely to peak at $8.8 billion: IMF

The International Monetary Fund (IMF) has forecast that Pakistan's trade gap could swell further, and hinted a 5 percent increase in it to $8.8 billion-highest level so far--at the end of the current fiscal year, it is learnt.
Published 06 Feb, 2007 12:00am
Trade deficit likely to peak at $8.8 billion: IMF

Trade deficit likely to peak at $8.8 billion: IMF

The International Monetary Fund (IMF) has forecast that Pakistan's trade gap could swell further, and hinted a 5 percent increase in it to $8.8 billion-highest level so far--at the end of the current fiscal year, it is learnt.
Published 06 Feb, 2007 12:00am
Trade deficit likely to peak at $8.8 billion: IMF

Trade deficit likely to peak at $8.8 billion: IMF

The International Monetary Fund (IMF) has forecast that Pakistan''s trade gap could swell further, and hinted a 5 percent increase in it to $8.8 billion-highest level so far--at the end of the current fiscal year, it is learnt.
Published 06 Feb, 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 06 Feb, 2007 12:00am
New York Cotton Rates

New York Cotton Rates

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

Published 06 Feb, 2007 12:00am
New York Cotton Rates

New York Cotton Rates

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

Published 06 Feb, 2007 12:00am
Musharraf's formula may help resolve Kashmir issue: Afgan

Musharraf's formula may help resolve Kashmir issue: Afgan

Federal Minister for Parliamentary Affairs, Dr Sher Afgar Khan Niazi, here on Monday said that the four-point solution suggested by President General Pervez Musharraf can result in amicable settlement of the long standing issue of Kashmir.
Published 06 Feb, 2007 12:00am
Wholesale farm produce markets to be set up

Wholesale farm produce markets to be set up

The Ministry of Food, Agriculture and Livestock (Minfal) is working on a project to set up wholesale agri-markets in Islamabad and all provincial capitals, Business Recorder learnt on Monday. "We are studying Singapore and Indian models for setting
Published 06 Feb, 2007 12:00am
Wholesale farm produce markets to be set up

Wholesale farm produce markets to be set up

The Ministry of Food, Agriculture and Livestock (Minfal) is working on a project to set up wholesale agri-markets in Islamabad and all provincial capitals, Business Recorder learnt on Monday. "We are studying Singapore and Indian models for setting
Published 06 Feb, 2007 12:00am
Wholesale farm produce markets to be set up

Wholesale farm produce markets to be set up

The Ministry of Food, Agriculture and Livestock (Minfal) is working on a project to set up wholesale agri-markets in Islamabad and all provincial capitals, Business Recorder learnt on Monday. "We are studying Singapore and Indian models for setting
Published 06 Feb, 2007 12:00am
Nearly 50 dead as tanks, troops deployed in Baghdad

Nearly 50 dead as tanks, troops deployed in Baghdad

Iraqi and US troops pressed closer to a long-announced battle against sectarian carnage in Baghdad that has pushed Iraq toward civil war, as at least 47 people died in another surge of brutality on Monday. Police also found 25 corpses.
Published 06 Feb, 2007 12:00am
Nearly 50 dead as tanks, troops deployed in Baghdad

Nearly 50 dead as tanks, troops deployed in Baghdad

Iraqi and US troops pressed closer to a long-announced battle against sectarian carnage in Baghdad that has pushed Iraq toward civil war, as at least 47 people died in another surge of brutality on Monday. Police also found 25 corpses.
Published 06 Feb, 2007 12:00am
Framing FBR law: CBR issues guidelines to legal advisor

Framing FBR law: CBR issues guidelines to legal advisor

The Central Board of Revenue (CBR) has issued guidelines to its legal advisor for framing the draft of Federal Board of Revenue (FBR) law. Official sources told Business Recorder that the Board has identified seven major areas on which the Legal Ad
Published 06 Feb, 2007 12:00am
Framing FBR law: CBR issues guidelines to legal advisor

Framing FBR law: CBR issues guidelines to legal advisor

The Central Board of Revenue (CBR) has issued guidelines to its legal advisor for framing the draft of Federal Board of Revenue (FBR) law. Official sources told Business Recorder that the Board has identified seven major areas on which the Legal Ad
Published 06 Feb, 2007 12:00am
Framing FBR law: CBR issues guidelines to legal advisor

Framing FBR law: CBR issues guidelines to legal advisor

The Central Board of Revenue (CBR) has issued guidelines to its legal advisor for framing the draft of Federal Board of Revenue (FBR) law. Official sources told Business Recorder that the Board has identified seven major areas on which the Legal Ad
Published 06 Feb, 2007 12:00am
Banned Lashkar-e-Jhangvi chief held in Lahore

Banned Lashkar-e-Jhangvi chief held in Lahore

The head of an outlawed militant group linked to al Qaeda has been arrested with four of his colleagues, police said on Monday. The main suspect, identified as Rizwan Ahmad, is head of the Lashkar-e-Jhangvi group.
Published 06 Feb, 2007 12:00am
Banned Lashkar-e-Jhangvi chief held in Lahore

Banned Lashkar-e-Jhangvi chief held in Lahore

The head of an outlawed militant group linked to al Qaeda has been arrested with four of his colleagues, police said on Monday. The main suspect, identified as Rizwan Ahmad, is head of the Lashkar-e-Jhangvi group.
Published 06 Feb, 2007 12:00am
Musharraf in Ankara

Musharraf in Ankara

President Pervez Musharraf arrived on Monday in Ankara for a two-day visit during which Iraq, Afghanistan and Middle East peace plan will be at the centre of his talks. Musharraf flew in from Tehran, where he had met Iranian President Mahmoud Ahmadinejad,
Published 06 Feb, 2007 12:00am
Musharraf in Ankara

Musharraf in Ankara

President Pervez Musharraf arrived on Monday in Ankara for a two-day visit during which Iraq, Afghanistan and Middle East peace plan will be at the centre of his talks. Musharraf flew in from Tehran, where he had met Iranian President Mahmoud Ahmadinejad,
Published 06 Feb, 2007 12:00am
Billions of rupees being spent to end poverty: Amir

Billions of rupees being spent to end poverty: Amir

National Assembly's Speaker Chaudhry Amir Hussain has said that government was mobilising billions of rupees on banishing backwardness, poverty alleviation and on the provision of basic facilities to the masses in far-off areas of the country.
Published 06 Feb, 2007 12:00am
President's vision being given practical shape: Elahi

President's vision being given practical shape: Elahi

Punjab Chief Minister Chaudhry Pervaiz Elahi has said that in accordance with the vision of President General Pervez Musharraf, a big programme is being given a practical shape for the large scale development of major cities of the province including Laho
Published 06 Feb, 2007 12:00am
Fair weather forecast

Fair weather forecast

The Met office has forecast fair weather with fogy morning for Karachi on Tuesday with minimum temperature in range 17-19 degree centigrade. Dry weather is forecast for Hyderabad, Mirpurkhas, Sukkur and Larkana divisions on Tuesday.
Published 06 Feb, 2007 12:00am
Government warned against striking any deal on Kashmir

Government warned against striking any deal on Kashmir

Speakers at a seminar here on Monday warned the sitting rulers to abstain from striking any deal with the Indian government on Kashmir issue, against the wishes of Kashmiri people because it would be meaningless. They were speaking at a seminar held under
Published 06 Feb, 2007 12:00am
MMA marks Kashmir Day in Sindh

MMA marks Kashmir Day in Sindh

Muttahida Majlis-i-Amal (MMA) on Monday observed the Kashmir Solidarity Day throughout Sindh province including Karachi to express unity with the people of Kashmir. According to a MMA press release, special prayers were offered in the mosques for the succ
Published 06 Feb, 2007 12:00am
IPRI seminar from February 13

IPRI seminar from February 13

Islamabad Policy Research Institute (IPRI) will hold an international seminar "Quest for energy- security in Asia" in collaboration with Hanns Seidel Foundation, here at a hotel on February 13 and 14. IPRI President Professor Pervaiz Iqbal Cheema will ina
Published 06 Feb, 2007 12:00am
Two million Afghan DPs registered so far

Two million Afghan DPs registered so far

Two million Afghan refugees living in Pakistan have been registered since last October in an exercise by the government to provide Proof of Registration (PoR) cards to those who were counted in the 2005 census.
Published 06 Feb, 2007 12:00am
MMA rejects Musharraf's Kashmir formula

MMA rejects Musharraf's Kashmir formula

Muttahida Majlis-i-Amal President Qazi Hussain Ahmed on Monday said that MMA would not attend National Assembly session till the decision of its Supreme Council in this regard. He was talking to journalists at a public rally marking the Kashmir Solidarity
Published 06 Feb, 2007 12:00am
Hearing of missing persons' case resumes today

Hearing of missing persons' case resumes today

A full bench of the Supreme Court (SC), headed by Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry, will resume hearing of the missing persons' case on Tuesday.
Published 06 Feb, 2007 12:00am
World Seraiki Congress on February 13

World Seraiki Congress on February 13

A general body meeting of the World Seraiki Congress will be held on February 13, in Islamabad in which members of parliament and senior citizens belonging to Seraiki region will participate.
Published 06 Feb, 2007 12:00am
Greece encourages Indo-Pak talks: envoy

Greece encourages Indo-Pak talks: envoy

Ambassador of Greece Athanassios M Valassidis has said that his country along with its European partners would continue to encourage Pak-India ongoing dialogue process.
Published 06 Feb, 2007 12:00am
Encroachments at railway crossing removed

Encroachments at railway crossing removed

The Shah Faisal Town administration on Monday carried out an anti-encroachment operation at the Railway Crossing in Union Council No 1 and removed all illegal constructions at government land.
Published 06 Feb, 2007 12:00am
Hassan Bin Talal arrives

Hassan Bin Talal arrives

Prince Hassan Bin Talal of Jordan arrived here on a private visit on Monday evening. At the Karachi Airport, the distinguished guest was received by the Adviser to the Sindh Chief Minister on Home, Wasim Akhtar.
Published 06 Feb, 2007 12:00am