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Print - 2007-03-01
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 01 Mar, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 01 Mar, 2007 12:00am
Pakistani firm hired to scrutinise loan defaulters

Pakistani firm hired to scrutinise loan defaulters

Visionet Systems Inc the sister concern of Pakistan's largest software company Visionet Systems Inc was quoted recently in the Wall Street Journal to have been amongst firms hired by investment-banking firms and investment firms.
Published 01 Mar, 2007 12:00am
Chief minister to select one out of four new names for NWFP

Chief minister to select one out of four new names for NWFP

NWFP Chief Minister Akram Durrani has asked to conduct political, constitutional and legal survey regarding renaming the province and send him the report. Law Minister Malik Zafar Azam said this talking to media men.
Published 01 Mar, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (February 28, 2007).

Published 01 Mar, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 01 Mar, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 01 Mar, 2007 12:00am
Opposition must regain trust of masses: Khar

Opposition must regain trust of masses: Khar

Former Governor of Punjab Malik Gulam Mustafa Khar had suggested that Alliance for Restoration of Democracy (ARD) should be converted into an election alliance. Addressing a press conference here on Wednesday, he said by forming this alliance, the present
Published 01 Mar, 2007 12:00am
BoP earns Rs 3,804.255 million

BoP earns Rs 3,804.255 million

The Bank of Punjab (BoP) has earned Rs 3,804.255 million as profit after-tax translating earning per share (EPS) of Rs 13.14 in the year ending December 31, 2006 as compared to Rs 2,353.242 million profit after tax and EPS of Rs 8.13 in 2005.
Published 01 Mar, 2007 12:00am
FPCCI not comfortable with DTO of commerce ministry

FPCCI not comfortable with DTO of commerce ministry

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other trade bodies are not comfortable with Director Trade Organisations (DTO) of the Commerce Ministry over the Trade Organisations Ordinance (TOO).
Published 01 Mar, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 01 Mar, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Wednesday (February 28, 2007).

Published 01 Mar, 2007 12:00am
Teledensity reaches 35.4 percent

Teledensity reaches 35.4 percent

Pakistan Telecommunication Authority (PTA) Chairman Major-General Shahzada Alam Malik (Retd) has said that with the introduction of mobile number portability (MNP), the mobile phone consumers would get enhanced cellular services, and it would bring health
Published 01 Mar, 2007 12:00am
Rs 6.14 billion construction, mining machinery imported in 7 months

Rs 6.14 billion construction, mining machinery imported in 7 months

The country has imported construction and mining machinery to the tune of Rs 6.14 billion during the last seven months. According to Federal Bureau Statistics (FBS), imports of construction and mining machinery during July-January 2006-07 increased to Rs
Published 01 Mar, 2007 12:00am
Shah Latif flower expo opens on March 2

Shah Latif flower expo opens on March 2

A three-day Hazrat Shah Abdul Latif Bhittai flowers exhibition is being organised by district government Hyderabad from March 2, at Eidgah (Rani Bagh) here as its annual event. The event is aimed at to provide recreational opportunities to the citizens an
Published 01 Mar, 2007 12:00am
Four Iranian police killed in ambush near Pakistani border

Four Iranian police killed in ambush near Pakistani border

Militants killed four Iranian policemen and kidnapped at least one other in a late-night ambush in a sensitive border province before fleeing towards Pakistan, officials said on Wednesday but Pakistan denied any such incident.
Published 01 Mar, 2007 12:00am
ISE index loses 51.77 points

ISE index loses 51.77 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities failed to show recovery signs under the lead of hot favourite amid decrease in index.
Published 01 Mar, 2007 12:00am
ISE index loses 51.77 points

ISE index loses 51.77 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities failed to show recovery signs under the lead of hot favourite amid decrease in index.
Published 01 Mar, 2007 12:00am
Sri Lankan average inflation at near 10-year high in February

Sri Lankan average inflation at near 10-year high in February

Sri Lanka's average inflation rate rose to its highest level in nearly 10 years in February, the government said on Wednesday, but analysts expect the central bank to hold off raising interest rates again for now.
Published 01 Mar, 2007 12:00am
Prime Minister hails Emirates Investment Group's services

Prime Minister hails Emirates Investment Group's services

The launching of the Global Investment Bank in Pakistan by the Emirates Investment Group is a testimony of the confidence of international business community in the economic stability, high growth and bright future of Pakistan, Prime Minister Shaukat Aziz
Published 01 Mar, 2007 12:00am
Pakistan to accept illegal EU migrants after job quota pact

Pakistan to accept illegal EU migrants after job quota pact

Pakistan is set to sign with the European Union (EU) an agreement, seeking an enhanced job quota for its citizens in member states and in return Islamabad will assist in deportation of its illegal migrants. The accord that was recently been cleared by the
Published 01 Mar, 2007 12:00am
ADB funding to be sought for Rs 22 billion Faisalabad Motorway

ADB funding to be sought for Rs 22 billion Faisalabad Motorway

Pakistan has decided to approach the Asian Development Bank (ADB) for funding the Rs 22 billion Faisalabad-Khanewal Motorway (M-4) project, as the Malaysian government has categorically refused to undertake the project on BOT basis.
Published 01 Mar, 2007 12:00am
BoP earns Rs 3,804.255 million

BoP earns Rs 3,804.255 million

The Bank of Punjab (BoP) has earned Rs 3,804.255 million as profit after-tax translating earning per share (EPS) of Rs 13.14 in the year ending December 31, 2006 as compared to Rs 2,353.242 million profit after tax and EPS of Rs 8.13 in 2005.
Published 01 Mar, 2007 12:00am
MGE spring wheat lower

MGE spring wheat lower

Spring wheat futures on the Minneapolis Grain Exchange closed lower on Tuesday, weighed by a sharp break in Chicago wheat, corn and soybean futures, traders said.
Published 01 Mar, 2007 12:00am
Seoul shares end down

Seoul shares end down

Seoul shares fell on Wednesday by the most in eight months, as a rout in global markets sparked a broader sell-off of riskier assets, although losses were pared as Chinese shares looked set to recover from a plunge a day earlier.
Published 01 Mar, 2007 12:00am
Malaysian palm oil rebounds

Malaysian palm oil rebounds

Malaysian crude palm oil futures recovered from losses on Wednesday as firm prices in the physical market prompted strong buying towards the close, dealers said. The benchmark third-month may contract on the Bursar Malaysia Derivatives exchange finished u
Published 01 Mar, 2007 12:00am
Tokyo rubber ends down 10-yen limit

Tokyo rubber ends down 10-yen limit

Tokyo rubber futures fell the 10-yen daily limit across the board on Wednesday as the yen firmed and stock markets around the world fell sharply.
Published 01 Mar, 2007 12:00am
CBOT rice tumbles

CBOT rice tumbles

Chicago Board of Trade rough rice futures plunged on Tuesday amid worries that China would curb its economy, traders said. Fears about China, which has been an engine of global growth, sent shivers around the world.
Published 01 Mar, 2007 12:00am
Soyabean complex sinks on China fears

Soyabean complex sinks on China fears

Soyabean futures at the Chicago Board of Trade sank on Tuesday, pressured by fears that China would place controls on its markets to slow economic growth, traders said.
Published 01 Mar, 2007 12:00am
New York sugar finishes up

New York sugar finishes up

Raw sugar futures ended higher on Tuesday with March getting a powerful boost from investors scrambling to get out of the spot contract before it expires on Wednesday, brokers said.
Published 01 Mar, 2007 12:00am
India halts wheat contracts

India halts wheat contracts

India's commodity exchanges will not be allowed to launch any new wheat or rice futures contracts, senior officials told Reuters on Wednesday, after criticism trades were helping fuel inflation.
Published 01 Mar, 2007 12:00am
Oil dives more than $1 as world stock markets fall

Oil dives more than $1 as world stock markets fall

Oil fell more than $1 on Wednesday, tumbling off a two-month high amid a global stock market rout triggered by a sharp fall in share prices in China. US crude dropped $1.16, or 1.89 percent, to $60.30 a barrel after having touched a low of $59.92.
Published 01 Mar, 2007 12:00am
Australia's grains trade seen unfazed by China fall

Australia's grains trade seen unfazed by China fall

Australia's big grains trade expects to carry out sales to China to the maximum of available tonnage's despite big falls on financial markets in the Asian giant this week, industry traders said on Wednesday.
Published 01 Mar, 2007 12:00am
Indonesia fails to sell 215,172 kg rubber at sale

Indonesia fails to sell 215,172 kg rubber at sale

Indonesia's state marketing centre failed to sell 215,172 kilograms of rubber products in an auction on Wednesday due to low bids, the centre said. The centre, which sells rubber from state plantations, offered 57,600 kilogram of Ribbed Smoke Sheet (RSS 1
Published 01 Mar, 2007 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin rose $90 on Wednesday after a higher close on the London Metal Exchange and strong Japanese demand, one trader said.
Published 01 Mar, 2007 12:00am
Gold off one-week low

Gold off one-week low

Gold tumbled to its lowest in a week on Wednesday before bargain hunters helped it regain strength after a 3-percent decline in New York that tracked a plunge in US stock markets.
Published 01 Mar, 2007 12:00am
Tokyo gold dives on stocks

Tokyo gold dives on stocks

Japanese gold futures plunged by the daily limit on Wednesday weighed down by a heavy sell-off by investment funds after broad declines in global stock markets, triggered by a sharp fall in China the previous day.
Published 01 Mar, 2007 12:00am
US gold drifts lower; weak shares, fund selling hurt

US gold drifts lower; weak shares, fund selling hurt

US gold futures ended lower in a volatile session on Tuesday on fund selling led by broad declines in the stock markets, but further losses were limited by firmer oil and a weak dollar.
Published 01 Mar, 2007 12:00am
US copper futures slip

US copper futures slip

US copper futures ended down on Tuesday after reports of overextended share valuations in China's main equity index spooked global economies and fanned fears of a demand decline in the world's largest consumer of the red metal, analysts said.
Published 01 Mar, 2007 12:00am
No major changes on grain market

No major changes on grain market

Firmness prevailed in the grain markets on Wednesday as most of the commodities maintained the overnight levels in process of trading, dealers said. On the grams side, guwar Punjab gained Rs 35 to Rs 1250 due to short supply position, they said. Other sec
Published 01 Mar, 2007 12:00am
Argentine corn sales unchanged

Argentine corn sales unchanged

Argentine export commitments of 2005/06 corn totalled 8.585 million tonnes by last Wednesday, unchanged from a week earlier, the Agriculture Secretariat said on Tuesday in its latest weekly report. By the same date last year, Argentina had sold 13.97 mill
Published 01 Mar, 2007 12:00am
Solo deal in lacklustre cotton market

Solo deal in lacklustre cotton market

Lacklustre activity was seen on the cotton market on Wednesday as leading buyers were on the sidelines in anticipation of lower trend in the prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2,550, without u
Published 01 Mar, 2007 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseed oilcake market on Wednesday as most of the buyers were on the sidelines due to less interest in fresh deals, dealers said.
Published 01 Mar, 2007 12:00am
Corn futures fall on China concerns

Corn futures fall on China concerns

Corn futures at the Chicago Board of Trade shed 3.5 percent of their value on Tuesday amid fears that China, a major grain buyer, will take steps to curb speculation and slow market growth, traders said.
Published 01 Mar, 2007 12:00am
US Midwest bids for corn firm, soyabean steady

US Midwest bids for corn firm, soyabean steady

Spot corn basis bids were mostly steady to firm around the US Midwest on Monday and soyabean basis bids were mostly steady amid largely slow farmer selling, grain merchants said.
Published 01 Mar, 2007 12:00am
Kenyan coffee prices mixed

Kenyan coffee prices mixed

Kenya coffee prices ended mixed at Tuesday's auction with the top qualities fetching premiums, and traders predicted that volumes of good quality beans would increase in the short term.
Published 01 Mar, 2007 12:00am
Vietnam rice trade stagnant

Vietnam rice trade stagnant

The rice trade in Vietnam was stagnant in the past week after industry watchdog Vietnam Food Association lifted an export ban of the grain but ordered exporters to increase prices by around 3 percent, traders said on Wednesday.
Published 01 Mar, 2007 12:00am
CBOT wheat futures tumble on China fears

CBOT wheat futures tumble on China fears

Wheat futures on the Chicago Board of Trade tumbled more than 2 percent on Tuesday as worries of a slowdown in China's economy triggered aggressive speculative selling across the grains floor, traders said. Corn led the way down, weighed by technical mome
Published 01 Mar, 2007 12:00am
Oil World sees higher US vegetable oil imports

Oil World sees higher US vegetable oil imports

Rising US vegetable oil demand especially for biofuels means US Oct 2006/Sep 2007 imports of the 13 main edible oils could rise to 2,770,000 tonnes from 2,565,000 tonnes in 2005/06, Hamburg-based oilseeds analysts Oil World forecasts.
Published 01 Mar, 2007 12:00am
Argentine wheat sales flat

Argentine wheat sales flat

Argentine 2006-07 wheat export commitments totalled 8.7 million tonnes by last Wednesday, unchanged from a week earlier, the Agriculture Secretariat said on Tuesday in its latest weekly report. By the same date last year, Argentina had sold 5.095 million
Published 01 Mar, 2007 12:00am
FOB Gulf soya falls; corn and wheat steady

FOB Gulf soya falls; corn and wheat steady

US FOB soyabean basis offers fell on Tuesday on top of declines in CBOT futures prices due to competitive pressure from Brazil, while corn and wheat were mostly steady, traders said.
Published 01 Mar, 2007 12:00am
Indonesian palm oil prices flat

Indonesian palm oil prices flat

Indonesian palm oil prices barely moved in thin trade on Wednesday with a weakening rupiah holding up prices amid losses in Malaysian crude palm oil futures.
Published 01 Mar, 2007 12:00am
Chinese 2006 grain output up

Chinese 2006 grain output up

Chinese grain output rose 2.8 percent to 497.46 million tonnes in 2006 from 2005, the third straight year of bumper harvests, spurred by Beijing's subsidies for grain production. The National Bureau of Statistics did not give a detailed breakdown.
Published 01 Mar, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 50,976 tonnes cargo including 30,105 tonnes import, 20,871` tonnes export cargo and 3,068 containers during last 24 hours ending at 0700 hours on Wednesday.
Published 01 Mar, 2007 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices fell on Wednesday amid slow inquiry, while marine fuel prices in Japan declined further due to extra supplies, traders said.
Published 01 Mar, 2007 12:00am
Bangladesh opposition demands elections in June

Bangladesh opposition demands elections in June

The opposition in emergency-rule Bangladesh on Wednesday demanded elections in June after the interim government chief said the ballot was on hold until reforms to strengthen democracy were carried out.
Published 01 Mar, 2007 12:00am
Dubai jailers of Filipina maid get 3 years in prison

Dubai jailers of Filipina maid get 3 years in prison

A couple who tried to treat a Filipina maid like an inmate of Iraq's infamous Abu Ghraib prison have been jailed in Dubai for three years for torture and sexual harassment, a newspaper reported Wednesday.
Published 01 Mar, 2007 12:00am
Two Picasso paintings stolen

Two Picasso paintings stolen

Two paintings by Pablo Picasso worth a total of 50 million euros and a drawing were stolen from the Paris apartment of the artist's granddaughter, police said Wednesday.
Published 01 Mar, 2007 12:00am
Opposition Democrats split on US exit path from Iraq

Opposition Democrats split on US exit path from Iraq

Opposition Democrats were split Wednesday on finding ways to get US military forces to exit Iraq without appearing to undercut the efforts of soldiers on the ground. In the Senate, Democrats are supporting an amendment that would revoke President George W
Published 01 Mar, 2007 12:00am
Westerners put on alert in Saudi Arabia

Westerners put on alert in Saudi Arabia

Western embassies in Saudi Arabia have advised their nationals to be on alert after the killing of four Frenchmen left expatriates wondering if this might signal a resumption of anti-Western attacks. Several residents on Wednesday said that while they wer
Published 01 Mar, 2007 12:00am
Australia still favourites: Ponting

Australia still favourites: Ponting

Australia are still favourites for the World Cup despite losing their last five one-day matches, captain Ricky Ponting said as the team prepared to fly out to the Caribbean on Wednesday.
Published 01 Mar, 2007 12:00am
Born 1971, one-day cricket grows into giant

Born 1971, one-day cricket grows into giant

When a rain-ruined Test between Australia and England in 1971 resulted in the first one-day international at Melbourne, few believed that this new form of cricket would become a global, money-spinning affair.
Published 01 Mar, 2007 12:00am
Pakistan must forget about Shoaib and Asif: Miandad

Pakistan must forget about Shoaib and Asif: Miandad

Former captain Javed Miandad has told Pakistan to stop waiting for Shoaib Akhtar and Mohammad Asif and go into next month's World Cup without the two pace bowlers. "With so much uncertainty over their availability, I think it is best Pakistan forgot about
Published 01 Mar, 2007 12:00am
Hewitt and Safin win, Blake loses

Hewitt and Safin win, Blake loses

Lleyton Hewitt and Marat Safin, two former world number ones, made light of strong winds to earn morale-boosting victories in their opening round-robin matches at the Las Vegas Open on Tuesday.
Published 01 Mar, 2007 12:00am
Haas cruises to quarters in Dubai

Haas cruises to quarters in Dubai

Tommy Haas showed little sign of his gruelling schedule, reaching the Dubai Open quarter-finals with a 7-6 6-3 win over Florent Serra of France on Wednesday.
Published 01 Mar, 2007 12:00am
Malaysian fourth quarter economic growth slowest in a year

Malaysian fourth quarter economic growth slowest in a year

Malaysia's economy grew at its slowest annual pace in a year in the fourth quarter, official data showed, but the central bank said the outlook was positive with the economy able to weather a global sell-off in equities.
Published 01 Mar, 2007 12:00am
Halliburton sees Iraq contract awards in second quarter

Halliburton sees Iraq contract awards in second quarter

Halliburton Co, whose KBR unit is the largest private contractor in Iraq, said on Wednesday it expected the US Department of Defence would announce awards for new Iraq contracts in the second quarter, later than the company expected.
Published 01 Mar, 2007 12:00am
Israeli forces kill two Jihad commanders

Israeli forces kill two Jihad commanders

Israeli forces killed two Islamic Jihad leaders and their driver in the occupied West Bank on Wednesday, drawing vows of revenge for the ambush in Jenin.
Published 01 Mar, 2007 12:00am
UK house market resilient

UK house market resilient

British house price inflation gathered pace in February but consumer confidence fell, intensifying the dilemma for Bank of England interest rate-setters.
Published 01 Mar, 2007 12:00am
India committed to strengthening Safta, says Satyabrata

India committed to strengthening Safta, says Satyabrata

India is committed to strengthen the South Asian Free Trade Agreement (Safta) and demanded of the member countries to comply with the Safta rules and regulations in letter and spirit to make it a success, said Satyabrata Pal, Indian High Commissioner to P
Published 01 Mar, 2007 12:00am
Brazil's foreign reserves surpass $100 billion mark

Brazil's foreign reserves surpass $100 billion mark

Brazil's foreign reserves have surpassed the $100 billion mark for the first time, the central bank said on Wednesday, the result of a continuing policy of buying dollars on the spot market.
Published 01 Mar, 2007 12:00am
Export under 'Manufacturing Bond Scheme' by land allowed

Export under 'Manufacturing Bond Scheme' by land allowed

The Central Board of Revenue (CBR) has allowed export of goods manufactured under the 'Manufacturing Bond Scheme' to any country through land route. The board has amended Customs Rules, 2001 through SRO.143(I)/2007 issued on Wednesday.
Published 01 Mar, 2007 12:00am
Airbus confirms to cut plants, 10,000 jobs

Airbus confirms to cut plants, 10,000 jobs

Airbus will slash 10,000 jobs and sell all or part of six factories, it confirmed on Wednesday, as workers protested and politicians hailed a hard-fought compromise.
Published 01 Mar, 2007 12:00am
Export under 'Manufacturing Bond Scheme' by land allowed

Export under 'Manufacturing Bond Scheme' by land allowed

The Central Board of Revenue (CBR) has allowed export of goods manufactured under the 'Manufacturing Bond Scheme' to any country through land route. The board has amended Customs Rules, 2001 through SRO.143(I)/2007 issued on Wednesday.
Published 01 Mar, 2007 12:00am
Japanese consortium to build Saudi water power plant

Japanese consortium to build Saudi water power plant

A Gulf-Japanese consortium on Wednesday signed a contract with Saudi Water and Electricity Company (WEC) to build a 1.9-billion-dollar power and fresh water plant in the oil-rich desert kingdom.
Published 01 Mar, 2007 12:00am
Export under ''Manufacturing Bond Scheme'' by land allowed

Export under ''Manufacturing Bond Scheme'' by land allowed

The Central Board of Revenue (CBR) has allowed export of goods manufactured under the ''Manufacturing Bond Scheme'' to any country through land route. The board has amended Customs Rules, 2001 through SRO.143(I)/2007 issued on Wednesday.
Published 01 Mar, 2007 12:00am
Eurozone inflation and unemployment fall

Eurozone inflation and unemployment fall

Eurozone inflation and unemployment fell in January and economic sentiment is rising again thanks to more optimism among consumers, data showed on Wednesday.
Published 01 Mar, 2007 12:00am