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Print - 2007-04-14
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (April 13, 2007).

Published 14 Apr, 2007 12:00am
India eyes 150,000 tons Pakistani wheat

India eyes 150,000 tons Pakistani wheat

Indian grain traders have contracted to import 20,000 tonnes of Pakistani wheat and they are waiting for New Delhi to issue import permits before starting shipments, a leading regional grains trader said on Friday. "The permits could come anytime now," Vi
Published 14 Apr, 2007 12:00am
India eyes 150,000 tons Pakistani wheat

India eyes 150,000 tons Pakistani wheat

Indian grain traders have contracted to import 20,000 tonnes of Pakistani wheat and they are waiting for New Delhi to issue import permits before starting shipments, a leading regional grains trader said on Friday. "The permits could come anytime now," Vi
Published 14 Apr, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (April 13, 2007).

Published 14 Apr, 2007 12:00am
38 Taliban killed in Afghan fighting

38 Taliban killed in Afghan fighting

US and Afghan troops backed by warplanes killed more than 35 Taliban militants during a five-hour battle in a bitterly contested area of southern Afghanistan, the US-led coalition said on Friday.
Published 14 Apr, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 14 Apr, 2007 12:00am
38 Taliban killed in Afghan fighting

38 Taliban killed in Afghan fighting

US and Afghan troops backed by warplanes killed more than 35 Taliban militants during a five-hour battle in a bitterly contested area of southern Afghanistan, the US-led coalition said on Friday.
Published 14 Apr, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Apr, 2007 12:00am
Lal Masjid cleric ready for negotiations

Lal Masjid cleric ready for negotiations

Khateeb of Lal Masjid Maulana Abdul Aziz has said that PML president Chaudhry Shujaat Hussain had come to the mosque for talks, saying that his behaviour was positive. In his Juma sermon he said that their doors are open for negotiations but they would no
Published 14 Apr, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 14 Apr, 2007 12:00am
Increasing investment shows confidence of investors: Prime Minister

Increasing investment shows confidence of investors: Prime Minister

Prime Minister Shaukat Aziz on Friday said increasing investment in the country is a testimony of the confidence of local and foreign investors in its economic policies and potential. He said this during a meeting with Essa Abdulfatta Kazim, Chairman Duba
Published 14 Apr, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 14 Apr, 2007 12:00am
Government trying to divide opposition: Aitzaz

Government trying to divide opposition: Aitzaz

Former interior minister and PPP central leader Chaudhry Aitzaz Ahsan has said that the government claim about deal with PPP is aimed at dividing opposition. In an interview with a private TV channel he said 'Charter of Democracy' was signed by Nawaz Shar
Published 14 Apr, 2007 12:00am
FTO criticises performance of tax departments

FTO criticises performance of tax departments

Federal Tax Ombudsman, Justice Munir A. Sheikh has criticised that the Federal Tax Departments had been identified with rampant inefficiency, corruption and oblivious to their basic duties.
Published 14 Apr, 2007 12:00am
Ibad reviews law and order

Ibad reviews law and order

The efforts being made to control crimes, and the obtaining law and order was reviewed at a meeting held under the chairmanship of Sindh Governor, Dr Ishratul Ibad Khan here on Friday.
Published 14 Apr, 2007 12:00am
'CAA adopting extra safety measures at airports'

'CAA adopting extra safety measures at airports'

Civil Aviation Authority (CAA) has explained at length the safety measures in place to make all airports safe for operations. In a statement issued here on Friday in the wake of reports published on this count.
Published 14 Apr, 2007 12:00am
Seminar on Pak-EU ties on April 17

Seminar on Pak-EU ties on April 17

A seminar on European Union-Pakistan relations will be held on April 17 at the Goethe Institut here. The moot is being organised by the Area Study Centre for Europe (ASCE), University of Karachi, in collaboration with the Hanns Seidel Foundation, Islamaba
Published 14 Apr, 2007 12:00am
Two soldiers killed in landmine explosion

Two soldiers killed in landmine explosion

Two soldiers were killed and another seriously injured in a landmine blast in Balochistan on Friday, officials said. A banned militant group representing tribesmen seeking more profits from the region's natural resources claimed responsibility for the att
Published 14 Apr, 2007 12:00am
PNSC to buy two oil tankers, one bulk carrier

PNSC to buy two oil tankers, one bulk carrier

The financing deal of $135 million between Pakistan National Shipping Corporation (PNSC) and ABN-Amro Bank for acquisition of two oil tankers and one bulk carrier is likely to be finalised in a month or two.
Published 14 Apr, 2007 12:00am
Textile City chief vows transparency in land allotment

Textile City chief vows transparency in land allotment

CEO Pakistan Textile City Ltd, Zaheer A. Hussain has said that the land mafia would not be allowed to get land leased in the proposed textile city and vowed to allocate land through transparent process. Zaheer Hussain was replying to questions raised duri
Published 14 Apr, 2007 12:00am
100 hurt as train derails

100 hurt as train derails

A Multan bound 128 down Mehr express met an accident near Layyah city when its six bogies were derailed on Friday. More than 100 passengers sustained injuries, however, no one is in precarious condition, Divisional Superintendent of Railway Multan told re
Published 14 Apr, 2007 12:00am
NIT again outperforms KSE-100 index

NIT again outperforms KSE-100 index

National Investment Trust (NIT) has once again outperformed the KSE 100 Index by an equitable margin of 1.82 percent where Net Asset Value of NIT unit has increased by 14.65 percent from Rs 43.07 as on June 30, 2006 (Ex-Dividend) to Rs 49.38 as on March 3
Published 14 Apr, 2007 12:00am
Two soldiers killed in landmine explosion

Two soldiers killed in landmine explosion

Two soldiers were killed and another seriously injured in a landmine blast in Balochistan on Friday, officials said. A banned militant group representing tribesmen seeking more profits from the region's natural resources claimed responsibility for the att
Published 14 Apr, 2007 12:00am
CBR approves customs restructuring plan

CBR approves customs restructuring plan

The Central Board of Revenue (CBR) has approved the customs restructuring plan for proper working of customs officials at Model Customs Collectorates under the on-going reform process. Sources told Business Recorder on Friday that the CBR had taken
Published 14 Apr, 2007 12:00am
CBR approves customs restructuring plan

CBR approves customs restructuring plan

The Central Board of Revenue (CBR) has approved the customs restructuring plan for proper working of customs officials at Model Customs Collectorates under the on-going reform process. Sources told Business Recorder on Friday that the CBR had taken
Published 14 Apr, 2007 12:00am
CBR approves customs restructuring plan

CBR approves customs restructuring plan

The Central Board of Revenue (CBR) has approved the customs restructuring plan for proper working of customs officials at Model Customs Collectorates under the on-going reform process. Sources told Business Recorder on Friday that the CBR had taken
Published 14 Apr, 2007 12:00am
India eyes 150,000 tons Pakistani wheat

India eyes 150,000 tons Pakistani wheat

Indian grain traders have contracted to import 20,000 tonnes of Pakistani wheat and they are waiting for New Delhi to issue import permits before starting shipments, a leading regional grains trader said on Friday. "The permits could come anytime now," Vi
Published 14 Apr, 2007 12:00am
First prize for Anum Baig

First prize for Anum Baig

Anum Baig daughter of leading industrialist and Hon. Consul General of Republic of Yemen Dr Mirza Ikhtiar Baig has won first prize of Rs 10,000/- while representing Bayview High School, Karachi in art contest organised by Virginia Common wealth University
Published 14 Apr, 2007 12:00am
G7 to stay upbeat on growth, wary on currencies

G7 to stay upbeat on growth, wary on currencies

Finance chiefs from the world's rich nations meeting on Friday were expected to offer assurances that the global economy can withstand a US slowdown while keeping a watchful eye on currency volatility.
Published 14 Apr, 2007 12:00am
IMF sees no danger from euro's strength

IMF sees no danger from euro's strength

The current strength of the euro represents no threat to the eurozone's economy, the head of the IMF's European Department, Michael Deppler, said in a newspaper interview published on Friday. "We see no threat to recovery," Deppler told the Financial Time
Published 14 Apr, 2007 12:00am
Citigroup to buy Old Lane hedge fund

Citigroup to buy Old Lane hedge fund

Citigroup Inc said on Friday it is acquiring Old Lane Partners GP LLC, a hedge fund firm co-founded by former Morgan Stanley executive Vikram Pandit. Pandit will become chief executive of Citi Alternative Investments, a spot left open after Michael Carpen
Published 14 Apr, 2007 12:00am
Citigroup to buy Old Lane hedge fund

Citigroup to buy Old Lane hedge fund

Citigroup Inc said on Friday it is acquiring Old Lane Partners GP LLC, a hedge fund firm co-founded by former Morgan Stanley executive Vikram Pandit. Pandit will become chief executive of Citi Alternative Investments, a spot left open after Michael Carpen
Published 14 Apr, 2007 12:00am
US trade gap narrows, core PPI holds steady

US trade gap narrows, core PPI holds steady

The US trade deficit narrowed unexpectedly in February while producer prices excluding volatile food and energy were unchanged in March, data showed on Friday, suggesting the economy continued to chug along while inflation pressures remained muted.
Published 14 Apr, 2007 12:00am
World economy strong, no worry over US: Brown

World economy strong, no worry over US: Brown

British finance minister Gordon Brown said on Friday that the world economy is strong enough to withstand any potential slowdown in the United States. Speaking to reporters ahead of the Group of Seven finance ministers' meeting, Brown said: "We have alway
Published 14 Apr, 2007 12:00am
Samsung posts weak first quarter earnings

Samsung posts weak first quarter earnings

South Korea's Samsung Electronics on Friday said net profit during the three months to March fell 15 percent from a year earlier due to weak chip prices. The weaker-than-expected performance sent Samsung shares down 0.5 percent to close at 601,000 won, bu
Published 14 Apr, 2007 12:00am
US-China trade war fears 'way overblown'

US-China trade war fears 'way overblown'

Worries that recent US trade actions against China signal an impending trade war between the two countries are "way overblown," US Commerce Secretary Carlos Gutierrez said on Friday.
Published 14 Apr, 2007 12:00am
Infosys earnings jump 70 percent

Infosys earnings jump 70 percent

Indian software giant Infosys on Friday posted a higher-than-expected 70 percent jump in fourth-quarter net profit thanks to a sustained outsourcing boom but forecast sales growth would slow sharply in the year ahead.
Published 14 Apr, 2007 12:00am
Infosys earnings jump 70 percent

Infosys earnings jump 70 percent

Indian software giant Infosys on Friday posted a higher-than-expected 70 percent jump in fourth-quarter net profit thanks to a sustained outsourcing boom but forecast sales growth would slow sharply in the year ahead.
Published 14 Apr, 2007 12:00am
Malaysian palm oil up two percent

Malaysian palm oil up two percent

Malaysian crude palm oil futures climbed 2 percent on Friday, fired by speculative buying ahead of the weekend and concerns over a slowdown in supplies. Dealers said strong exports and the possibility that India might cut palm import duties also boosted m
Published 14 Apr, 2007 12:00am
Tocom rubber slips

Tocom rubber slips

Tokyo rubber futures fell 0.9 percent to close lower in volatile trade on Friday, as profit taking gained momentum after they touched a two-month high. The benchmark Tokyo Commodity Exchange rubber contract for September delivery finished down 2.5 yen, or
Published 14 Apr, 2007 12:00am
China soyaoil and corn outlook bullish, soyabean weak

China soyaoil and corn outlook bullish, soyabean weak

Chinese traders' outlook for soyabean and soyameal remains bearish for next week, but forecasts for soyaoil and corn are strong, a survey by a Chinese think tank showed on Friday. The outlook for soyabeans was weak, as crushers have slowed imports amid hi
Published 14 Apr, 2007 12:00am
World market price for upland cotton

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 42.37 cents per pound, effective through April 19. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
Published 14 Apr, 2007 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin fell 0.5 percent on Friday because of a technical correction and a lack of buyers at the price, one dealer said.
Published 14 Apr, 2007 12:00am
Soyabeans fall on technicals

Soyabeans fall on technicals

Soyabean futures at the Chicago Board of Trade sank on Thursday, pressured by technical selling, traders said. "We just ran into some technical sales. With corn down it doesn't help beans," said one CBOT trader. Sell-stops were triggered in May soya in th
Published 14 Apr, 2007 12:00am
New York sugar mixed

New York sugar mixed

Raw sugar futures finished mixed on Thursday as dealings featured mostly switch trade from players moving out of positions in the spot contract before it goes off the board at month's end, brokers said.
Published 14 Apr, 2007 12:00am
CBOT rice softens

CBOT rice softens

Rough rice futures at the Chicago Board of Trade closed lower on Thursday on follow-through selling from Wednesday, with managed funds continuing to roll their long positions in May, traders said.
Published 14 Apr, 2007 12:00am
Shanghai copper and zinc fall

Shanghai copper and zinc fall

Shanghai copper and zinc futures fell around 3 percent on Friday after a failed attempt to drive London copper above $8,000 a tonne in the previous session.
Published 14 Apr, 2007 12:00am
Oil hovers above $64

Oil hovers above $64

Oil topped $64 on Friday, extending a 3 percent gain a day, as traders fret over a spate of refinery outages in the United States that drained gasoline stocks ahead of the summer driving season.
Published 14 Apr, 2007 12:00am
US cotton weekly export sales highlights

US cotton weekly export sales highlights

USDA cotton export sales highlights for latest reporting week. Net Upland sales of 314,200 running bales were 12 percent below the week earlier, but 1 percent above the prior 4-week average. The primary buyers were China (170,000 RB), Turkey (41,000 RB),
Published 14 Apr, 2007 12:00am
NYBoT cotton stocks rise

NYBoT cotton stocks rise

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of April 11 totalled 663,811 (480-lb) bales, from 659,341 bales the previous session. There were 7,435 bales issued, 35,364 bales were awaitin
Published 14 Apr, 2007 12:00am
Gold futures softer in Tokyo

Gold futures softer in Tokyo

Tokyo gold futures fell on Friday as traders lightened their positions ahead of a Group of Seven nations' meeting later in the day, while palladium prices were broadly firmer backed by strong Technicals. Tokyo Commodity Exchange gold futures closed the se
Published 14 Apr, 2007 12:00am
US gold futures easier

US gold futures easier

US gold futures ignored higher energy prices and a slumping dollar to end $2 lower on Thursday, while buying based on technical charts sent palladium contracts to a higher finish. Traders cited profit taking and long liquidation for gold's decline.
Published 14 Apr, 2007 12:00am
US copper drifts lower

US copper drifts lower

US copper futures settled down over 2 percent on Thursday as investors were seen pocketing profits after a failure to sustain overnight gains above the prior session's peak, analysts said. "It was a double top. If you look at the daily chart, with all ses
Published 14 Apr, 2007 12:00am
Indonesian palm oil up

Indonesian palm oil up

Indonesian palm oil prices rose in thin trade on Friday supported by gains in the Malaysian market. At an auction at the state marketing centre, which sells palm oil from state plantations, crude palm oil sold at 6,467 rupiah ($0.711) a kg, up from 6,420
Published 14 Apr, 2007 12:00am
India exports 400,000 tonnes of sugar

India exports 400,000 tonnes of sugar

India exported 400,000 tonnes of sugar in the six months to the end of March and was likely to export 1 million tonnes in the crop year that ends in September, the head of the Indian Sugar Mills Association said on Friday.
Published 14 Apr, 2007 12:00am
New York cocoa falls

New York cocoa falls

US cocoa futures closed lower on Thursday, after falling to a fresh a nine-day low on speculative and fund selling, while continued position rolling boosted volume, traders said. "On the back of the weakness with New York down 19 to 20 points, (sell) stop
Published 14 Apr, 2007 12:00am
New York coffee futures jump

New York coffee futures jump

US arabica coffee futures surged to close up 3.1 percent at a two-week high on Thursday, on technical buying while May-July switches helped to boost volume, traders said. "Robusta lead the way and generated good technical buying as it broke out of its con
Published 14 Apr, 2007 12:00am
MGE wheat rallies to end firm

MGE wheat rallies to end firm

Spring wheat futures on the Minneapolis Grain Exchange closed mostly higher on Thursday in volatile trade, rallying from declines as the Chicago and Kansas City winter wheat markets turned up, traders said. Concerns about freeze damage to the US winter wh
Published 14 Apr, 2007 12:00am
WCE canola futures slip on weak soyabean

WCE canola futures slip on weak soyabean

Winnipeg Commodity Exchange canola futures settled lower on Thursday in sympathy with weak allied markets and on the surging Canadian dollar, traders said. Canola ended 10 cents to $2.20 per tonne lower, with May down $2.20 at $352.20, July down $1.30 at
Published 14 Apr, 2007 12:00am
Prices on grain market unchanged

Prices on grain market unchanged

No change was seen on the grain market on Friday as most of the commodities maintained the overnight levels in process of trading, dealers said. They said that during the day, the rates in the rice and seed sectors fluctuated slightly but closed at the ov
Published 14 Apr, 2007 12:00am
Activity picks up on cotton market

Activity picks up on cotton market

Mills and exporters were active on the cotton market on Friday as ginners did not show any intention to sell the unsold stock below Rs 2800, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2725, without upcountry
Published 14 Apr, 2007 12:00am
Oil cake market rates

Oil cake market rates

Contracts were lower on the forward cottonseed oilcake market on Friday as needy players bought and hoped prices will come down in the near future, dealers said. The May vaida was unchanged at Rs 656.00. During the day, it was quoted at the highest rate a
Published 14 Apr, 2007 12:00am
Shaukat rejects Bokhari's resignation

Shaukat rejects Bokhari's resignation

In a late night development, Prime Minister Shaukat Aziz, on Friday rejected Tariq Ali Bokhari's resignation as secretary establishment and directed him to carry on his official duties.
Published 14 Apr, 2007 12:00am
Corn mostly lower

Corn mostly lower

Corn futures at the Chicago Board of Trade ended mostly lower on outlooks for improved crop seeding weather and the market was very volatile, with spot May shifting in a trading range of 12-1/2 cents per bushel. Traders said volatile dealings were expecte
Published 14 Apr, 2007 12:00am
Shaukat rejects Bokhari's resignation

Shaukat rejects Bokhari's resignation

In a late night development, Prime Minister Shaukat Aziz, on Friday rejected Tariq Ali Bokhari's resignation as secretary establishment and directed him to carry on his official duties.
Published 14 Apr, 2007 12:00am
US Midwest corn up; soya and wheat mostly steady

US Midwest corn up; soya and wheat mostly steady

Spot basis bids for corn rose around the US Midwest on Thursday as dealers tried to boost supplies at elevators and processors after weeks of slow farmer selling. Cash bids for both soyabeans and wheat were mostly steady, grain dealers said.
Published 14 Apr, 2007 12:00am
NTC will act as think tank: Prime Minister

NTC will act as think tank: Prime Minister

Prime Minister Shaukat Aziz said that the National Tariff Commission will be restructured to work as a think tank to provide necessary tariff advisory services to the government in keeping with the global and local tariff requirements.
Published 14 Apr, 2007 12:00am
Azerbaijan to boost sugar output 80 percent by 2008

Azerbaijan to boost sugar output 80 percent by 2008

Azersun, Azerbaijan's only sugar producer, plans to boost output by 80 percent in the next two years and export to world markets after a $10 million upgrade of its refinery, a senior company official said on Thursday.
Published 14 Apr, 2007 12:00am
NTC will act as think tank: Prime Minister

NTC will act as think tank: Prime Minister

Prime Minister Shaukat Aziz said that the National Tariff Commission will be restructured to work as a think tank to provide necessary tariff advisory services to the government in keeping with the global and local tariff requirements.
Published 14 Apr, 2007 12:00am
CBOT wheat futures higher

CBOT wheat futures higher

Wheat futures at the Chicago Board of Trade closed higher on Thursday, rallying from early declines on uncertainty about the extent of freeze damage to the US winter wheat crop and some outlooks for more cold in the Plains, traders said.
Published 14 Apr, 2007 12:00am
NTC will act as think tank: Prime Minister

NTC will act as think tank: Prime Minister

Prime Minister Shaukat Aziz said that the National Tariff Commission will be restructured to work as a think tank to provide necessary tariff advisory services to the government in keeping with the global and local tariff requirements.
Published 14 Apr, 2007 12:00am
Burundi coffee output likely to fall

Burundi coffee output likely to fall

Burundi's 2007/08 coffee output is expected to fall by at least 50 percent from the previous year, mainly due to ageing coffee trees and land degradation, a coffee board official said on Friday.
Published 14 Apr, 2007 12:00am
FOB Gulf corn and soyabean steady

FOB Gulf corn and soyabean steady

US FOB Gulf soyabean and corn export premiums held mostly steady on Thursday with most exports going by rail or shipping from the Pacific Northwest, traders said. Wheat basis offers were also unchanged, with some trades in the barge market as exporters se
Published 14 Apr, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 114,344 tonnes cargo including 81,200 tonnes import, 33,144` tonnes export cargo and 2,870 containers during last 24 hours ending at 0700 hours on Friday.
Published 14 Apr, 2007 12:00am
Ukraine exports 869,400 tonnes sunoil

Ukraine exports 869,400 tonnes sunoil

Ukraine's sunflower oil exports through Black Sea ports have reached 869,400 tonnes so far in the 2006/07 season (September-August), analysts said on Friday, quoting data from ports. UkrAgroConsult agriculture consultancy said in a statement the country h
Published 14 Apr, 2007 12:00am
Aussies enter semis

Aussies enter semis

Australia stormed into the World Cup semi-finals with a crushing nine-wicket win over a hapless Ireland in a Super Eights match here on Friday. Irish were dismissed for just 91.
Published 14 Apr, 2007 12:00am
Children's exposure to cyber crime

Children's exposure to cyber crime

The Internet has revolutionised our lives and has transformed the way we live, work, conduct business, and communicate with others. While this life-changing technology offers us unlimited world-wide access to information and instant communication.
Published 14 Apr, 2007 12:00am