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Print - 2007-05-29
LPG distributors say no to strike

LPG distributors say no to strike

The prices of Liquefied Petroleum Gas (LPG) have increased in the country due to import of LPG and linking its rate with the prices prevalent in the international market. This was stated by Chairman LPG Distributors Association, Abdul Hadi Khan, while tal
Published 29 May, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 May, 2007 12:00am
Textile sector should be divided into three sub-sectors: Prgmea

Textile sector should be divided into three sub-sectors: Prgmea

The Central Chairman of Pakistan Readymade Garment and Export Association (Prgmea) Ijaz Ahmad Khokhar has said that textile sector should be divided into three sub-sectors including ginning, spinning and weaving if the government intends to save the indus
Published 29 May, 2007 12:00am
Textile mills on verge of closure: Apta

Textile mills on verge of closure: Apta

Nasser Sheikh Chairman Banking Committee for All Pakistan Textile Association (Apta) has said that the textile industry of the country has been facing the worst crises for the last two years and suffering from serious financial problems due to prevailing
Published 29 May, 2007 12:00am
Justice Javed Iqbal takes oath as ACJP

Justice Javed Iqbal takes oath as ACJP

Honourable Justice Javed Iqbal took oath as Acting Chief Justice of Pakistan. Senior Judge of the Supreme Court of Pakistan, Honourable Justice Abdul Hameed Dogar administered the oath at Islamabad. The oath taking ceremony was attended by Honourable Judg
Published 29 May, 2007 12:00am
Justice Javed Iqbal takes oath as ACJP

Justice Javed Iqbal takes oath as ACJP

Honourable Justice Javed Iqbal took oath as Acting Chief Justice of Pakistan. Senior Judge of the Supreme Court of Pakistan, Honourable Justice Abdul Hameed Dogar administered the oath at Islamabad. The oath taking ceremony was attended by Honourable Judg
Published 29 May, 2007 12:00am
Palm oil prices soar to $860 per ton

Palm oil prices soar to $860 per ton

The prices of palm oil in the world market have further surged by $10 per ton, hitting $860 per ton mark in the wake of rising demand and low supply, traders said. They said that after two days'' break, on Monday huge demand was witnessed from different c
Published 29 May, 2007 12:00am
Palm oil prices soar to $860 per ton

Palm oil prices soar to $860 per ton

The prices of palm oil in the world market have further surged by $10 per ton, hitting $860 per ton mark in the wake of rising demand and low supply, traders said. They said that after two days' break, on Monday huge demand was witnessed from different co
Published 29 May, 2007 12:00am
Palm oil prices soar to $860 per ton

Palm oil prices soar to $860 per ton

The prices of palm oil in the world market have further surged by $10 per ton, hitting $860 per ton mark in the wake of rising demand and low supply, traders said. They said that after two days' break, on Monday huge demand was witnessed from different co
Published 29 May, 2007 12:00am
Two coal-based power plants to be set up near Karachi

Two coal-based power plants to be set up near Karachi

Discussions are afoot between two foreign companies and the Private Power Infrastructure Board (PPIB) for the establishment of 1,000 mw plants each in the coastal belt near Karachi, based on imported coal. The representatives of United States AES Corporat
Published 29 May, 2007 12:00am
Two coal-based power plants to be set up near Karachi

Two coal-based power plants to be set up near Karachi

Discussions are afoot between two foreign companies and the Private Power Infrastructure Board (PPIB) for the establishment of 1,000 mw plants each in the coastal belt near Karachi, based on imported coal. The representatives of United States AES Corporat
Published 29 May, 2007 12:00am
Two coal-based power plants to be set up near Karachi

Two coal-based power plants to be set up near Karachi

Discussions are afoot between two foreign companies and the Private Power Infrastructure Board (PPIB) for the establishment of 1,000 mw plants each in the coastal belt near Karachi, based on imported coal. The representatives of United States AES Corporat
Published 29 May, 2007 12:00am
Powers of income tax tribunal may be enhanced

Powers of income tax tribunal may be enhanced

The government is likely to enhance powers of Income Tax Appellant Tribunal (IPAT) and Customs, Sales Tax and Excise Tribunal in budget 2007-08. Sources told Business Recorder on Monday that the government might enhance the limit from Rs 1.5 millio
Published 29 May, 2007 12:00am
Powers of income tax tribunal may be enhanced

Powers of income tax tribunal may be enhanced

The government is likely to enhance powers of Income Tax Appellant Tribunal (IPAT) and Customs, Sales Tax and Excise Tribunal in budget 2007-08. Sources told Business Recorder on Monday that the government might enhance the limit from Rs 1.5 millio
Published 29 May, 2007 12:00am
Powers of income tax tribunal may be enhanced

Powers of income tax tribunal may be enhanced

The government is likely to enhance powers of Income Tax Appellant Tribunal (IPAT) and Customs, Sales Tax and Excise Tribunal in budget 2007-08. Sources told Business Recorder on Monday that the government might enhance the limit from Rs 1.5 millio
Published 29 May, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (May 28, 2007).

Published 29 May, 2007 12:00am
Three soldiers, four militants killed

Three soldiers, four militants killed

Unknown insurgents shot dead a military commander and a suicide car bomber killed two soldiers in NWFP on Monday, hours after police killed four rebels in a firefight, officials said.
Published 29 May, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (May 28, 2007).

Published 29 May, 2007 12:00am
Three soldiers, four militants killed

Three soldiers, four militants killed

Unknown insurgents shot dead a military commander and a suicide car bomber killed two soldiers in NWFP on Monday, hours after police killed four rebels in a firefight, officials said.
Published 29 May, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (May 28, 2007).

Published 29 May, 2007 12:00am
Used auto parts import policy flayed

Used auto parts import policy flayed

Japanese brand four-wheel manufacturers have established their monopoly in Pakistan and are earning unusual profit, leaving people with no choice but to buy the same brands. The government should invite European car manufacturing companies to invest in th
Published 29 May, 2007 12:00am
Malaysian firm to get power plant assets in Pakistan

Malaysian firm to get power plant assets in Pakistan

Malaysian company Tanjong has said it is going to acquire seven power plant assets located in Pakistan, Egypt, Bangladesh and Sri Lanka from CDC Globeleq Holdings Limited for 493 million dollars.
Published 29 May, 2007 12:00am
Mukhtar Jhangvi killed

Mukhtar Jhangvi killed

Unidentified assailants shot dead an activist Allama Mukhtar Ahmad Jhangvi of the International Khatam-e-Nabuwat Movement, in nearby Chak 196RB Ghona on Monday morning. He was former member of the Sipah-e-Sahaba.
Published 29 May, 2007 12:00am
End to China-specific safeguards may hit Pakistani textile sector: PTEA

End to China-specific safeguards may hit Pakistani textile sector: PTEA

The abolishing of China-specific safeguards in 2008 imposed by the US and EU against textile and clothing imports may pose a challenge for Pakistan's high value added textile items, which are presently under huge pressure and are in danger of being dislod
Published 29 May, 2007 12:00am
Miners to revive Faberge as luxury goods group

Miners to revive Faberge as luxury goods group

Mining investors led by the former head of mining group BHP Billiton plan to revive the Faberge brand it bought from consumer goods group Unilever as a diamond and luxury goods group, an official said on Monday.
Published 29 May, 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 Monday (May 28, 2007).
Published 29 May, 2007 12:00am
Antonveneta faces new identity crisis

Antonveneta faces new identity crisis

Falling into the arms of a foreigner was tough for Italian bank Antonveneta, and the thought of having to go though it all over again after little more than a year has ruffled employees and clients.
Published 29 May, 2007 12:00am
Taiwan's economy shows sign of slowdown

Taiwan's economy shows sign of slowdown

Taiwan's economy showed signs of a slowdown with the index of leading indicators for April standing at 110.0 points, down 0.2 percent from March, the government said. In March, the index of leading indicators registered a revised 1.7 percent month-on-mont
Published 29 May, 2007 12:00am
Eni and AEM executives investigated

Eni and AEM executives investigated

Eni Chief Executive Paolo Scaroni and AEM Milano Chairman Giuliano Zuccoli are under investigation as part of a probe by Milan magistrates into possibly fraudulent natural gas metering, the energy companies said on Monday.
Published 29 May, 2007 12:00am
ISE equities show healthy signs

ISE equities show healthy signs

Equities showed healthy signs on Monday at the Islamabad Stock Exchange (ISE) where bulls dominated the proceedings under the lead of hot favourites amid increase in index. ISE Ten Index was plus by 19.14 points as the index moved from 2,657.2 to 2,676.34
Published 29 May, 2007 12:00am
ISE equities show healthy signs

ISE equities show healthy signs

Equities showed healthy signs on Monday at the Islamabad Stock Exchange (ISE) where bulls dominated the proceedings under the lead of hot favourites amid increase in index. ISE Ten Index was plus by 19.14 points as the index moved from 2,657.2 to 2,676.34
Published 29 May, 2007 12:00am
Oil and cement sectors lead LSE rally

Oil and cement sectors lead LSE rally

With oil and cement sectors remaining in the fore, the share values surged on Lahore Stock Exchange (LSE) on Monday, on reports of increase in crude oil price as well as allocations for big dams in the federal budget. The LSE-25 index soared by 33.77 poin
Published 29 May, 2007 12:00am
Oil and cement sectors lead LSE rally

Oil and cement sectors lead LSE rally

With oil and cement sectors remaining in the fore, the share values surged on Lahore Stock Exchange (LSE) on Monday, on reports of increase in crude oil price as well as allocations for big dams in the federal budget. The LSE-25 index soared by 33.77 poin
Published 29 May, 2007 12:00am
Justice Ramday says verdict irrespective of consequences

Justice Ramday says verdict irrespective of consequences

The head of the 13-member Full Bench of Supreme Court, Justice Khalilur Rehman Ramday, has said that the Court will decide on merit irrespective of the consequences the petitions of Chief Justice Iftikhar Mohammad Chaudhry and 37 others against President'
Published 29 May, 2007 12:00am
Justice Ramday says verdict irrespective of consequences

Justice Ramday says verdict irrespective of consequences

The head of the 13-member Full Bench of Supreme Court, Justice Khalilur Rehman Ramday, has said that the Court will decide on merit irrespective of the consequences the petitions of Chief Justice Iftikhar Mohammad Chaudhry and 37 others against President'
Published 29 May, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (May 28, 2007).

Published 29 May, 2007 12:00am
Food inflation up at 9.4 percent in April: SBP

Food inflation up at 9.4 percent in April: SBP

Food inflation rose significantly to 9.4 percent during April 2007 against 3.6 percent in April 2006, mainly due to reversal of inflation from negative to positive in some key food items including vegetables, fruits, eggs and chicken.
Published 29 May, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 28, 2007).
Published 29 May, 2007 12:00am
Food inflation up at 9.4 percent in April: SBP

Food inflation up at 9.4 percent in April: SBP

Food inflation rose significantly to 9.4 percent during April 2007 against 3.6 percent in April 2006, mainly due to reversal of inflation from negative to positive in some key food items including vegetables, fruits, eggs and chicken.
Published 29 May, 2007 12:00am
Food inflation up at 9.4 percent in April: SBP

Food inflation up at 9.4 percent in April: SBP

Food inflation rose significantly to 9.4 percent during April 2007 against 3.6 percent in April 2006, mainly due to reversal of inflation from negative to positive in some key food items including vegetables, fruits, eggs and chicken.
Published 29 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 Monday (May 28, 2007).

Published 29 May, 2007 12:00am
No contact with FBI over US insider trading scam: SECP

No contact with FBI over US insider trading scam: SECP

The United States Securities and Exchange Commission has only shared ''public information'' about the US bank scam of insider trading, involving two bankers of Pakistani-origin, with the Securities and Exchange Commission of Pakistan (SECP).
Published 29 May, 2007 12:00am
No contact with FBI over US insider trading scam: SECP

No contact with FBI over US insider trading scam: SECP

The United States Securities and Exchange Commission has only shared 'public information' about the US bank scam of insider trading, involving two bankers of Pakistani-origin, with the Securities and Exchange Commission of Pakistan (SECP).
Published 29 May, 2007 12:00am
No contact with FBI over US insider trading scam: SECP

No contact with FBI over US insider trading scam: SECP

The United States Securities and Exchange Commission has only shared 'public information' about the US bank scam of insider trading, involving two bankers of Pakistani-origin, with the Securities and Exchange Commission of Pakistan (SECP).
Published 29 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 Monday (May 28, 2007).

Published 29 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 Monday (May 28, 2007).

Published 29 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 Monday (May 28, 2007).

Published 29 May, 2007 12:00am
BRIndex30 up 110.68 points

BRIndex30 up 110.68 points

On Monday, BRIndex30 opened in the positive zone at 14,178.36 with an upward gap of 84.93 points. It closed at 14,204.11 with a net positive change of 110.68 points and percentage change of 0.79. It experienced intra-day high and intra-day low of 14,251.7
Published 29 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 29 May, 2007 12:00am
BRIndex30 up 110.68 points

BRIndex30 up 110.68 points

On Monday, BRIndex30 opened in the positive zone at 14,178.36 with an upward gap of 84.93 points. It closed at 14,204.11 with a net positive change of 110.68 points and percentage change of 0.79. It experienced intra-day high and intra-day low of 14,251.7
Published 29 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 29 May, 2007 12:00am
KSE-100 index crosses 12,831 points

KSE-100 index crosses 12,831 points

The pre-budget rally continued at the Karachi share market as the KSE-100 index breached through another psychological barrier of 12,800 points and closed at its highest-ever level of 12,831.09 points on Monday on the back of fresh buying by foreign and l
Published 29 May, 2007 12:00am
KSE-100 index crosses 12,831 points

KSE-100 index crosses 12,831 points

The pre-budget rally continued at the Karachi share market as the KSE-100 index breached through another psychological barrier of 12,800 points and closed at its highest-ever level of 12,831.09 points on Monday on the back of fresh buying by foreign and l
Published 29 May, 2007 12:00am
KSE-100 index crosses 12,831 points

KSE-100 index crosses 12,831 points

The pre-budget rally continued at the Karachi share market as the KSE-100 index breached through another psychological barrier of 12,800 points and closed at its highest-ever level of 12,831.09 points on Monday on the back of fresh buying by foreign and l
Published 29 May, 2007 12:00am
Newcastle coal exports rise

Newcastle coal exports rise

Australia's coal exports from Newcastle Port rose more than 9 percent in the past week, while the waiting time continued to shorten, official port data showed on Monday. Newcastle Port, one of Australia's largest coal export terminals, saw exports rise by
Published 29 May, 2007 12:00am
CPGCL allowed 0.9 percent raise in tariff

CPGCL allowed 0.9 percent raise in tariff

The National Electric Power Regulatory Authority (Nepra) has allowed 0.9 percent increase per unit in generation tariff of Central Power Generation Company Limited (CPGCL) because of rise in gas prices. Adjustments have been made in the fuel part of energ
Published 29 May, 2007 12:00am
No Brazil coffee frost this week

No Brazil coffee frost this week

A new cold front is due to reach Brazil's coffee belt on Tuesday bringing some rain to Sao Paulo and Minas Gerais states but will not trigger any frost risk, private meteorologists Somar said on Monday. Lows of 5 Celsius (41 Fahrenheit) and 9 Celsius (48
Published 29 May, 2007 12:00am
CPGCL allowed 0.9 percent raise in tariff

CPGCL allowed 0.9 percent raise in tariff

The National Electric Power Regulatory Authority (Nepra) has allowed 0.9 percent increase per unit in generation tariff of Central Power Generation Company Limited (CPGCL) because of rise in gas prices. Adjustments have been made in the fuel part of energ
Published 29 May, 2007 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were unchanged on the forward cottonseed oilcake market on Monday as there was some interest in fresh buying, dealers said. The July vaida was unchanged at Rs 657.00 and that proved to be day's best level at Rs 657.00 and closing was seen
Published 29 May, 2007 12:00am
CPGCL allowed 0.9 percent raise in tariff

CPGCL allowed 0.9 percent raise in tariff

The National Electric Power Regulatory Authority (Nepra) has allowed 0.9 percent increase per unit in generation tariff of Central Power Generation Company Limited (CPGCL) because of rise in gas prices. Adjustments have been made in the fuel part of energ
Published 29 May, 2007 12:00am
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