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Print - 2007-05-25
Industrial parks: EGIBL to arrange Rs two billion Sukuk

Industrial parks: EGIBL to arrange Rs two billion Sukuk

Emirates Global Islamic Bank Limited (EGIBL) will act as financial advisors to arrange the first ever rupees two billion Sukuk, issued for the infrastructure development of industrial parks in Pakistan.
Published 25 May, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Lal Masjid administration frees cops

Lal Masjid administration frees cops

The administration of Lal Masjid on Thursday unconditionally freed the remaining two policemen after holding them hostage for almost a week. The seminary students had abducted four officials while they were on duty in plainclothes last Friday in a bid to
Published 25 May, 2007 12:00am
No tangible impact seen from oil price rise: IMF

No tangible impact seen from oil price rise: IMF

The rise in global oil prices has increased risks especially to US consumer spending, but that should not have "a tangible impact" on world economic prospects, an IMF spokesman said on Thursday.
Published 25 May, 2007 12:00am
Indian Prime Minister tells business not to be greedy

Indian Prime Minister tells business not to be greedy

India's prime minister struck out at big business for operating price cartels, and warned business families and executives not to fuel a rich-poor divide with excessive salaries and greedy behaviour.
Published 25 May, 2007 12:00am
Air France-KLM boosts profit, orders planes

Air France-KLM boosts profit, orders planes

Air France-KLM posted a 33 percent rise in annual operating profit on Thursday and embarked on fresh cost cuts aimed at translating rising margins into a payback for investors, amid a fragile industry recovery.
Published 25 May, 2007 12:00am
Air France-KLM boosts profit, orders planes

Air France-KLM boosts profit, orders planes

Air France-KLM posted a 33 percent rise in annual operating profit on Thursday and embarked on fresh cost cuts aimed at translating rising margins into a payback for investors, amid a fragile industry recovery.
Published 25 May, 2007 12:00am
China seeks to assure on food safety amid US talks

China seeks to assure on food safety amid US talks

China sought to assure its trade partners on Thursday that its food products were safe, after the United States called Chinese food exports a "top concern" and pressed Chinese officials to strengthen oversight.
Published 25 May, 2007 12:00am
Bush says he pressed Beijing on currency and beef

Bush says he pressed Beijing on currency and beef

US President George W. Bush said on Thursday he had pressed China to allow its currency to strengthen and to do more to open its markets to products such as US beef.
Published 25 May, 2007 12:00am
US new home sales jump

US new home sales jump

Sales of new US homes rose 16.2 percent in April, the sharpest climb in 14 years as builders slashed prices a record 11 percent, a government report showed on Thursday, signalling stabilisation in the housing sector. Other reports also reflected economic
Published 25 May, 2007 12:00am
France willing to pause deficit cuts for growth push

France willing to pause deficit cuts for growth push

France looked willing on Thursday to temporarily shelve budget deficit cuts to give President Nicolas Sarkozy all the levers he needs to boost growth. The message has come through loud and clear in recent days, with National Accounts Minister Eric Woerth
Published 25 May, 2007 12:00am
Business morale signals eurozone growth plateau

Business morale signals eurozone growth plateau

The eurozone's top three economies reported weaker-than-expected business confidence on Thursday, suggesting growth in the single currency area may be running up against its limits. In Germany, business morale was unchanged in May, against expectations of
Published 25 May, 2007 12:00am
Global economy on a roll, but inflation lurks: OECD

Global economy on a roll, but inflation lurks: OECD

The global economy is doing better than for years as red-hot Chinese growth combines with comebacks by Europe and Japan to offset a US slowdown, the Organisation for Economic Co-operation and Development said on Thursday.
Published 25 May, 2007 12:00am
Carry trade unwind possible to re-price risk: OECD

Carry trade unwind possible to re-price risk: OECD

Further unwinding of so-called carry trades could be triggered if investors re-evaluate risk and eurozone and Japanese interest rates climb, the Organisation for Economic Cooperation and Development indicated on Thursday.
Published 25 May, 2007 12:00am
Egypt to subsidise textile and clothing producers

Egypt to subsidise textile and clothing producers

The Egyptian government has set aside 100 million Egyptian pounds ($17.6 million) as subsidies to clothing and textile producers hit by cuts in customs duties on imported clothes, the ministry of trade said on Thursday.
Published 25 May, 2007 12:00am
Japan exports to US dip, but offset by Asia demand

Japan exports to US dip, but offset by Asia demand

Japanese exports to the United States fell in April from a year earlier for the first time in more than two years, but firm shipments to Asia offset the drop and helped Japan's trade surplus expand by more than 50 percent.
Published 25 May, 2007 12:00am
JGBs trampled by climb in overseas bond yields

JGBs trampled by climb in overseas bond yields

Japanese government bond futures slumped to a one-month low and 10-year yields hit a three-month high on Thursday as falls in overseas bond markets prompted investors to trim their JGB holdings.
Published 25 May, 2007 12:00am
JGBs trampled by climb in overseas bond yields

JGBs trampled by climb in overseas bond yields

Japanese government bond futures slumped to a one-month low and 10-year yields hit a three-month high on Thursday as falls in overseas bond markets prompted investors to trim their JGB holdings.
Published 25 May, 2007 12:00am
Bangladesh sees economic toll from political turmoil

Bangladesh sees economic toll from political turmoil

A drive to clean up Bangladeshi politics by the army-backed interim government could lay the groundwork for more sustained economic growth, but businessmen said it was also taking a toll on the economy in the short term.
Published 25 May, 2007 12:00am
Malaysia palm oil leaps 2.3 percent

Malaysia palm oil leaps 2.3 percent

Malaysian crude palm futures ended 2.3 percent higher on Thursday to hit fresh near-nine-year highs, boosted by firm soyaoil prices and hopes of robust growth in exports. The benchmark August contract finished up 56 ringgit, or 2.3 percent, at 2,445 ringg
Published 25 May, 2007 12:00am
Indonesian palm oil

Indonesian palm oil

Indonesian crude palm oil prices rose more than 2 percent on Thursday, boosted by gains in the Malaysian market and an easing rupiah against the dollar. In an auction in North Sumatra's Median, crude palm oil sold at 6,950-6,965 rupiah ($0.793-$0.795) a k
Published 25 May, 2007 12:00am
Soyabean futures technically strong

Soyabean futures technically strong

Soyabean futures at the Chicago Board of Trade ended higher on Wednesday on technical buying, with the nearby contract closing above key resistance of $8, traders said. "We sold off yesterday and we're getting a little bit of a bounce today," said oilseed
Published 25 May, 2007 12:00am
New York sugar mostly lower

New York sugar mostly lower

Raw sugar prices finished mostly lower on Wednesday in a subdued session featuring small speculators, and the absence of news should keep the market in a tight band for now, brokers said. New York Board of Trade's key July contract rose 0.01 cent to close
Published 25 May, 2007 12:00am
Tocom rubber climbs

Tocom rubber climbs

Japanese rubber futures ended higher on Thursday on speculative buying, but profit-taking kept prices below key resistance at 300 yen. The benchmark rubber contract on the Tokyo Commodity Exchange for October delivery settled at 297.0 yen ($2.44) per kg,
Published 25 May, 2007 12:00am
CBOT rice up

CBOT rice up

Chicago Board of Trade rough rice futures ended firm on Wednesday on a technical bounce from Tuesday's weakness but trade was light, traders said. July rice ended 1-1/2 cent per hundredweight higher at $10.27, with the back months were up 3 to 4 cents.
Published 25 May, 2007 12:00am
Oil tops $70 to nine-month high

Oil tops $70 to nine-month high

Oil prices rose further above $70 a barrel on Thursday on worries over Iran's nuclear dispute with the West and thin gasoline stockpiles in the United States ahead of peak summer demand. Benchmark London Brent crude was up 30 cents at $70.90 a barrel, a f
Published 25 May, 2007 12:00am
Analysts cut Ukraine grain forecast

Analysts cut Ukraine grain forecast

Analysts revised down on Thursday Ukraine's 2007 wheat crop forecast to between 16 and 17 million tonnes from the previous outlook of 17.7 million due to severe drought gripping the country in April and May. They said any further decline in the harvest co
Published 25 May, 2007 12:00am
Malaysian tin slips

Malaysian tin slips

Malaysian tin slipped 0.3 percent on Thursday, tracking lower prices on London Metal Exchange but losses were limited by Japanese buying, one dealer said.
Published 25 May, 2007 12:00am
Gold up in Tokyo but weigh down

Gold up in Tokyo but weigh down

Gold crept up but stayed on the defensive on Thursday, pressured by technical selling after it failed to break an important chart level, with funds also keen to sell given the dollar's strength. Gold moved in a tight range ahead of data on US durable good
Published 25 May, 2007 12:00am
US gold higher on dollar

US gold higher on dollar

A weaker dollar against the euro and higher oil prices sent US gold futures to a firmer finish on Wednesday, but reduced physical buying from India could hinder the precious metal's upside, analysts said. Most-active gold for June delivery on the Comex di
Published 25 May, 2007 12:00am
US copper futures end mixed

US copper futures end mixed

US copper futures settled mixed on Wednesday, with the front end of the curve drifting to a weaker close, as worries over slowing Chinese demand and a softer technical picture kept prices on the defensive, traders said.
Published 25 May, 2007 12:00am
Shanghai copper posts gains

Shanghai copper posts gains

Shanghai copper rose more than 1 percent on Thursday, tracking a recovery in London futures in post-outcry trading. Shanghai August copper was up 720 yuan or 1.2 percent from the previous close at 62,940 yuan ($8,225) a tonne. Copper for delivery in three
Published 25 May, 2007 12:00am
New York coffee inches higher

New York coffee inches higher

US arabica coffee futures ended modestly higher on Wednesday as the market looked for direction after the risk of frost in No 1 grower Brazil slipped away and origin sellers sat on the sidelines, traders said.
Published 25 May, 2007 12:00am
New York cocoa surges on firm pound

New York cocoa surges on firm pound

US cocoa futures jumped to close up 2.6 percent on Wednesday, off a fresh five-week high on support from firm sterling and speculative and fund-type buying that triggered stops, traders said. "Origin selling was not there today to put a cap on the first l
Published 25 May, 2007 12:00am
MGE spring wheat moves up

MGE spring wheat moves up

Spring wheat futures at the Minneapolis Grain Exchange closed quietly higher on Wednesday on a bounce from Tuesday's fall to one-month lows, traders said. The Chicago and Kansas City wheat markets were higher as well, rebounding in a light correction afte
Published 25 May, 2007 12:00am
NYBoT cotton stocks fall

NYBoT cotton stocks fall

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of May 22 totalled 705,387 (480-lb) bales, from 705,621 bales the previous session. There were 1,332 bales issued, 3,596 bales were awaiting r
Published 25 May, 2007 12:00am
Lethargic condition continues on cotton market

Lethargic condition continues on cotton market

Lethargic conditions prevailed in the lint market throughout this week and sales of only about 5,000 bales were reported. Ginners are still said to possess about 250,000 bales of unsold cotton from the current season (2006-07).
Published 25 May, 2007 12:00am
Lethargic condition continues on cotton market

Lethargic condition continues on cotton market

Lethargic conditions prevailed in the lint market throughout this week and sales of only about 5,000 bales were reported. Ginners are still said to possess about 250,000 bales of unsold cotton from the current season (2006-07).
Published 25 May, 2007 12:00am
HRW wheat bids mostly steady

HRW wheat bids mostly steady

US Plains hard red winter wheat basis bids held mostly steady Thursday with the market in limbo awaiting the full onset of harvest. One Oklahoma location did back off the basis by 4 cents a bushel, but otherwise the basis was flat.
Published 25 May, 2007 12:00am
Business remains subdued on cotton market

Business remains subdued on cotton market

Lean business was seen on the cotton market on Thursday as most of the mills were anticipating that prices of inferior type to depict soft trend, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2650, without upcou
Published 25 May, 2007 12:00am
Oil cake market rates

Oil cake market rates

Easier trend was seen on the cottonseed oilcake market on Thursday as most of the buyers kept on the sidelines despite easy supply position, dealers said. The May vaida failed to retain its firmness, showing 50 paisa loss at opening at Rs 643.00 which pro
Published 25 May, 2007 12:00am
CBOT wheat rises

CBOT wheat rises

Soft red winter wheat futures on the Chicago Board of Trade closed higher on Wednesday in a light technical rebound after Tuesday's drop to one-month lows, traders said. Additional support came from news that Pakistan suspended wheat exports on Wednesday
Published 25 May, 2007 12:00am
CBOT corn futures mostly higher

CBOT corn futures mostly higher

Chicago Board of Trade corn futures closed mostly higher Wednesday as prices seesaw, keeping within recent ranges, traders said. The market bounced early after Tuesday's lower close then faded as fears about dryness in the eastern US Corn Belt dissipated.
Published 25 May, 2007 12:00am
Bajra rises by Rs 125 on grain market

Bajra rises by Rs 125 on grain market

Thin trading was seen on the grain market on Thursday as most of the buyers kept on the sidelines due to balanced demand and supply position, dealers said. A solo deal was witnessed on the grams side as bajra prices rose sharply by Rs 125 to Rs 1325.
Published 25 May, 2007 12:00am
French wheat at new highs

French wheat at new highs

French wheat futures set fresh highs on Thursday and have now risen by one-fifth since the start of April on worries about this year's European harvest, traders said. "The market is testing highs after the recent pause. There is no real new fundamental be
Published 25 May, 2007 12:00am
US Midwest corn unchanged, soyabean weaker

US Midwest corn unchanged, soyabean weaker

Spot basis bids for corn were mostly unchanged around the interior US Midwest on Wednesday while soyabean bids were steady to weak due to good supplies at processors and elevators, grain dealers said. Along rivers, corn bids fell due to retreating CIF val
Published 25 May, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 66,225 tonnes cargo including 36,373 tonnes import, 29,852 tonnes export cargo and 4,380 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 25 May, 2007 12:00am
WCE canola up on commercial buying

WCE canola up on commercial buying

Winnipeg Commodity Exchange canola futures reached new contract highs for the second consecutive session on Wednesday on crusher and exporter buying, traders said. Canola settled steady to $5.20 per tonne higher, with July up $3.10 at $379.50 and November
Published 25 May, 2007 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 25 May, 2007 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 25 May, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 24, 2007).
Published 25 May, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am
Picic sold

Picic sold

Country's largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gro
Published 25 May, 2007 12:00am
Picic sold

Picic sold

Country's largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gro
Published 25 May, 2007 12:00am
Picic sold

Picic sold

Country''s largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gr
Published 25 May, 2007 12:00am
National Assembly panel asks PC to review NIT sell-off policy

National Assembly panel asks PC to review NIT sell-off policy

The National Assembly standing committee on privatisation has strongly opposed National Investment Trust (NIT) sell-off and asked the Privatisation Commission to have a second look on its policy towards this key institution.
Published 25 May, 2007 12:00am
National Assembly panel asks PC to review NIT sell-off policy

National Assembly panel asks PC to review NIT sell-off policy

The National Assembly standing committee on privatisation has strongly opposed National Investment Trust (NIT) sell-off and asked the Privatisation Commission to have a second look on its policy towards this key institution.
Published 25 May, 2007 12:00am
Gram pulse export suspended

Gram pulse export suspended

The government has suspended the export of gram pulse with immediate effect to check price hike in domestic market, Prime Minister Shaukat Aziz announced on Thursday. The Prime Minister was talking to media persons after chairing a special meeting to revi
Published 25 May, 2007 12:00am
KSE-100 index hits all-time high

KSE-100 index hits all-time high

The KSE-100 index has reached its all-time high level and finally settled at its highest ever record level of 12,663.41 points with net gain of 167.24 points on Thursday on the back of strong fundamentals, political stability and fresh foreign investment
Published 25 May, 2007 12:00am
KSE-100 index hits all-time high

KSE-100 index hits all-time high

The KSE-100 index has reached its all-time high level and finally settled at its highest ever record level of 12,663.41 points with net gain of 167.24 points on Thursday on the back of strong fundamentals, political stability and fresh foreign investment
Published 25 May, 2007 12:00am
BRIndex30 up 276.98 points

BRIndex30 up 276.98 points

On Thursday, BRIndex30 opened in the positive zone at 13,918.19 with a positive gap of 93.9 points. It closed at 14,101.37, registered a net positive change of 276.98 points and percentage change of 2.00. The BRIndex30 made an intra-day high of 14,115.83
Published 25 May, 2007 12:00am
BRIndex30 up 276.98 points

BRIndex30 up 276.98 points

On Thursday, BRIndex30 opened in the positive zone at 13,918.19 with a positive gap of 93.9 points. It closed at 14,101.37, registered a net positive change of 276.98 points and percentage change of 2.00. The BRIndex30 made an intra-day high of 14,115.83
Published 25 May, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 25 May, 2007 12:00am
Jamali seeks government-opposition rapprochement

Jamali seeks government-opposition rapprochement

Former Prime Minister and veteran Muslim Leaguer, Mir Zafarullah Khan Jamali, has called upon the government and opposition to sit together for the sake of Pakistan. Talking to a select group of newsmen during his visit to the office of Pakistan Hockey Fe
Published 25 May, 2007 12:00am
Government employees can't join foreign associations and clubs

Government employees can't join foreign associations and clubs

The federal government has imposed restrictions on government employees becoming members of foreign sponsored associations or clubs, suspecting that efforts might be afoot to collect secret information about sensitive areas of Pakistan, official sources t
Published 25 May, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Thursday (May 24, 2007).

Published 25 May, 2007 12:00am