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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-06-16
Eurozone trade surplus falls

Eurozone trade surplus falls

The eurozone's trade surplus fell in April as imports recovered from a decline a month before, but exports also held up well despite a strong euro and slower growth in the United States, data showed on Friday.
Published 16 Jun, 2007 12:00am
Taiwan approves 2007 budget

Taiwan approves 2007 budget

Taiwan's parliament on Friday approved its budget for 2007, with plans to spend T$1.6294 trillion ($49.2 billion) for the year, ending a six-month stand-off. Passage of the budget came nearly halfway into the year the latest ever following squabbles and t
Published 16 Jun, 2007 12:00am
Chinese investment quickens

Chinese investment quickens

China's spending on fixed assets such as roads and power plants accelerated in the first five months of the year, prompting predictions of imminent monetary tightening to slow the world's fourth-largest economy.
Published 16 Jun, 2007 12:00am
BAE names external panel to probe ethics

BAE names external panel to probe ethics

BAE Systems, Europe's biggest military contractor, said on Friday it had asked a former top English law official to lead a review of its business ethics but he would not be investigating controversial past deals with Saudi Arabia.
Published 16 Jun, 2007 12:00am
Eurozone banks strong but risks have grown: ECB

Eurozone banks strong but risks have grown: ECB

The euro area's big banks have been strong and profitable in recent months but the risks they face have grown and need to be monitored carefully, the European Central Bank said on Friday.
Published 16 Jun, 2007 12:00am
NYMEX explores sale of company

NYMEX explores sale of company

The New York Mercantile Exchange (NYMEX), the world's largest energy market, is exploring a sale for about $14.3 billion, a news agency reported on Friday, as exchanges world-wide hustle for the best merger partners.
Published 16 Jun, 2007 12:00am
NYMEX explores sale of company

NYMEX explores sale of company

The New York Mercantile Exchange (NYMEX), the world's largest energy market, is exploring a sale for about $14.3 billion, a news agency reported on Friday, as exchanges world-wide hustle for the best merger partners.
Published 16 Jun, 2007 12:00am
Regulators look at two online advertising takeovers

Regulators look at two online advertising takeovers

The US Federal Trade Commission is investigating Microsoft Corp's planned acquisition of aQuantive Inc as well as Yahoo Inc's proposed deal to take full control of Right Media Inc, The Wall Street Journal reported on Thursday.
Published 16 Jun, 2007 12:00am
Cadbury pleads guilty in salmonella case

Cadbury pleads guilty in salmonella case

Cadbury Schweppes Plc, the world's largest confectionery group, pleaded guilty on Friday to charges of selling unsafe chocolate in Britain and Ireland during 2006 and faces an unlimited fine.
Published 16 Jun, 2007 12:00am
US consumer prices rise, core index tame

US consumer prices rise, core index tame

Reports showing a moderate rise in a key US inflation gauge and continued manufacturing gains helped fire investor optimism on Friday, despite signs consumers' spirits were dampened by higher gasoline prices.
Published 16 Jun, 2007 12:00am
Long-term capital inflows jump

Long-term capital inflows jump

Long-term capital inflows to the US jumped in April to their highest since January as foreign investors took advantage of a weakening dollar to snap up US equities.
Published 16 Jun, 2007 12:00am
Long-term capital inflows jump

Long-term capital inflows jump

Long-term capital inflows to the US jumped in April to their highest since January as foreign investors took advantage of a weakening dollar to snap up US equities.
Published 16 Jun, 2007 12:00am
Qatari royals become top Sainsbury shareholders

Qatari royals become top Sainsbury shareholders

Qatar's royal family raised its stake in British supermarket group J. Sainsbury Plc to 25 percent, fuelling expectations on Friday it could face its second take-over approach in as many months.
Published 16 Jun, 2007 12:00am
Indian inflation eases

Indian inflation eases

Indian wholesale price inflation eased to its lowest in 10 months, holding within the central bank's comfort zone, but analysts said strong industrial growth meant the central bank would remain vigilant.
Published 16 Jun, 2007 12:00am
BoJ keeps rates on hold

BoJ keeps rates on hold

The Bank of Japan kept interest rates unchanged at 0.50 percent on Friday and said it needed more evidence of sustained economic expansion before raising them further, sending the yen to a new 4-1/2-year low. "To change our policy we need to be more convi
Published 16 Jun, 2007 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian crude palm oil futures ended 2.4 percent higher on Friday on the back of gains in the US soybean oil market and firm crude oil prices.
Published 16 Jun, 2007 12:00am
CBOT rice lower

CBOT rice lower

Chicago Board of Trade rough rice futures closed lower Thursday on a mild setback after rallying to a one-month top this week amid fresh speculative buying interest by commodity funds, traders said. Commercial hedge pressure dominated Thursday's price mov
Published 16 Jun, 2007 12:00am
Vietnam sees rubber imports flat

Vietnam sees rubber imports flat

Vietnam expects its rubber imports from neighbouring Southeast Asian countries to stay at current levels as it plans to boost its natural rubber output in coming years, a senior industry official said on Friday.
Published 16 Jun, 2007 12:00am
Soyabean futures end firm

Soyabean futures end firm

Soybean futures at the Chicago Board of Trade ended firm on Thursday, supported by concerns that dry weather in the eastern Midwest was stressing young crops and slowing soybean emergence, traders said. The rally in wheat was also supportive.
Published 16 Jun, 2007 12:00am
New York sugar ends mixed

New York sugar ends mixed

Raw sugar futures closed mixed on Thursday in a session featuring switch business, and the moving of positions out of the spot contract will be the main market feature for now, brokers said. New York Board of Trade's key July raw sugar contract gained 0.0
Published 16 Jun, 2007 12:00am
Japanese rubber stocks slip

Japanese rubber stocks slip

Crude rubber stocks held at Japanese warehouses fell to a five-month low of 16,717 tonnes as of June 10, down 4.2 percent from 17,458 tonnes on May 31, the Rubber Trade Association of Japan said on Friday. The latest inventory level was the lowest since 1
Published 16 Jun, 2007 12:00am
Vietnam sees rising sugar output, plans no imports

Vietnam sees rising sugar output, plans no imports

Vietnamese sugar refineries have nearly ended their crushing season, turning out 1.12 million tonnes of sugar or 49 percent more than the previous season, state media reported on Wednesday.
Published 16 Jun, 2007 12:00am
Oil eases after two-day gain

Oil eases after two-day gain

Oil prices crept lower on Friday, as traders paused after a two-day rally fuelled by concerns over US refiners' ability to meet both summer and winter demand, plus fresh anxiety over the Middle East. London Brent crude for August delivery, the new front-m
Published 16 Jun, 2007 12:00am
Asian cocoa: supply fears subside, grinders relieved

Asian cocoa: supply fears subside, grinders relieved

Grinders in Asia are breathing a sigh of relief as the main crop gathers pace in Indonesia's island of Slaws, raising hopes the much-needed good quality beans are on their way.
Published 16 Jun, 2007 12:00am
Gold extends gains in Asia

Gold extends gains in Asia

Cash gold extended gains on Friday on steady bargain hunting, which, combined with a weak yen - hovering at a 4-1/2 year low against the dollar - also helped lift Tokyo futures.
Published 16 Jun, 2007 12:00am
Germans block RAG sale to buyout firm

Germans block RAG sale to buyout firm

Germany will not let a financial investor buy RAG, a government official said on Friday, even though Cerberus Capital Management is ready to pay up to 8 billion euros ($10.65 billion) for the conglomerate.
Published 16 Jun, 2007 12:00am
Jakarta shares surge

Jakarta shares surge

Jakarta share prices finished 0.58 percent higher at a fresh all-time closing high on Friday, bolstered by a further rebound on Wall Street overnight, with miners well supported, dealers said. However, they said with some investors pocketing gains from se
Published 16 Jun, 2007 12:00am
Philippines shares jump

Philippines shares jump

Philippines share prices gained 1.18 percent to reach a new record close on Friday, thanks to the rally on Wall Street where economic data indicated inflation was being kept in check, dealers said. The composite index climbed 42.67 points to 3,671.29. Tra
Published 16 Jun, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US government bond prices slipped in volatile trade on Thursday on mortgage-related selling, extending a rout that hoisted benchmark 10-year Treasury note yields to a five year peak.
Published 16 Jun, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US government bond prices slipped in volatile trade on Thursday on mortgage-related selling, extending a rout that hoisted benchmark 10-year Treasury note yields to a five year peak.
Published 16 Jun, 2007 12:00am
Oil, moderate inflation boost US indexes

Oil, moderate inflation boost US indexes

US stocks rose on Thursday as a 2 percent gain in oil prices boosted shares of Exxon Mobil Corp and other energy companies while data showing moderate inflation lifted optimism about the economy. Exxon's stock led the major advancers in the S&P 500 as cru
Published 16 Jun, 2007 12:00am
Hong Kong stocks at week's second record

Hong Kong stocks at week's second record

Hong Kong-listed China plays hit their second straight record on Friday and logged their best weekly gain since December, as the recently underplayed mainland financials reclaimed the spotlight and Aluminium Corp of China (Chalco) led a rally in resource
Published 16 Jun, 2007 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.26 percent higher on Friday in thin trade with select construction and property counters leading gains, dealers said. They said property stocks were higher on news that more supportive measures will be introduced for the se
Published 16 Jun, 2007 12:00am
Chinese shares slightly higher

Chinese shares slightly higher

China's main stock index closed slightly higher on Friday as financial stocks rebounded, but most shares fell and turnover shrank because of concern about a further tightening of economic policy. The Shanghai Composite Index dropped as much as 1.17 percen
Published 16 Jun, 2007 12:00am
IMF sees post-war states as priority in Africa

IMF sees post-war states as priority in Africa

The International Monetary Fund is prioritising financial aid and technical assistance for African countries emerging from conflict, in the hope it will help re-energise the economy of the world's poorest continent.
Published 16 Jun, 2007 12:00am
Aer Lingus eyeing new routes to US, Far East

Aer Lingus eyeing new routes to US, Far East

Irish airline Aer Lingus sees potential to launch a new route to the east coast of the United States and another to the midwest when transatlantic air travel is liberalised next year, Commercial Director Enda Corneille said on Wednesday.
Published 16 Jun, 2007 12:00am
Germans block RAG sale to buyout firm

Germans block RAG sale to buyout firm

Germany will not let a financial investor buy RAG, a government official said on Friday, even though Cerberus Capital Management is ready to pay up to 8 billion euros ($10.65 billion) for the conglomerate.
Published 16 Jun, 2007 12:00am
Thai share prices rally

Thai share prices rally

Thai share prices closed 1.27 percent higher on Friday, led by robust regional markets, as investors chased gains in the banking and energy sectors, dealers said. But they said trading volume was low amid worries over political tensions as ousted and exil
Published 16 Jun, 2007 12:00am
Rubber glove makers face slow sales

Rubber glove makers face slow sales

High natural rubber prices have curbed global demand for rubber gloves and prompted users to shift to cheaper synthethic ones, an industry official said on Thursday.
Published 16 Jun, 2007 12:00am
US food price rises hard on consumers

US food price rises hard on consumers

Huge increases in US food prices over the past few months are not only putting a strain on consumer's pocketbooks, but they may also make the Federal Reserve's fight to curb inflation more difficult.
Published 16 Jun, 2007 12:00am
Europe ports struggle with Asia trade boom

Europe ports struggle with Asia trade boom

Europe's biggest ports face increasing chaotic congestion and delays in deliveries as they have failed to expand quickly enough to handle booming container imports from Asia.
Published 16 Jun, 2007 12:00am
Liberty Media, Echostar to bid for Intelsat

Liberty Media, Echostar to bid for Intelsat

Liberty Media Corp and EchoStar Communications Corp are preparing a joint offer for leading satellite operator Intelsat Ltd, The Wall Street Journal said late Thursday.
Published 16 Jun, 2007 12:00am
MySpace China aims to launch IM service

MySpace China aims to launch IM service

News Corp invested MySpace China aims to launch an online messaging service "as soon as possible", its CEO said, as the venture fights for a bigger share of the world's second-largest Internet market.
Published 16 Jun, 2007 12:00am
Bulgaria requires better workforce for growth

Bulgaria requires better workforce for growth

Bulgaria should revamp its education and employment plans in line with investor needs to ensure economic growth and boost convergence with European Union standards, a report said on Friday.
Published 16 Jun, 2007 12:00am
France to hold household gas prices

France to hold household gas prices

French gas prices will not rise in the coming months under an agreement between the finance ministry and Gaz de France the finance ministry said in a statement on Friday.
Published 16 Jun, 2007 12:00am
Italy approves household stage of energy reform

Italy approves household stage of energy reform

Italy on Friday approved a long -awaited decree giving households the chance to choose their electricity supplier, using a special rule to meet a European Union deadline for market liberalisation.
Published 16 Jun, 2007 12:00am
EU to scrap Belarus trade perks

EU to scrap Belarus trade perks

The European Union will scrap trade preferences for exports from Belarus because of violations of worker rights in the former Soviet state, the bloc's trade chief Peter Mandelson said on Friday.
Published 16 Jun, 2007 12:00am
Zoellick poised to clinch job as World Bank chief

Zoellick poised to clinch job as World Bank chief

Robert Zoellick, US President George W. Bush's candidate to be World Bank president, looked set to clinch the job as expected without a challenger when a deadline for nominations expires on Friday.
Published 16 Jun, 2007 12:00am
Tokyo bourse buys 4.99 percent of Singapore exchange

Tokyo bourse buys 4.99 percent of Singapore exchange

The Tokyo Stock Exchange spent about $304 million to buy a 4.99 percent stake in the Singapore Exchange Ltd, the latest move in a scramble by global bourses to forge ties and consolidate.
Published 16 Jun, 2007 12:00am
US should play role in ensuring free, fair elections: Gilani

US should play role in ensuring free, fair elections: Gilani

Central Vice Chairman of PPP Syed Yousaf Raza Gilani said that United States should play its role in ensuring free, fair, impartial and transparent elections in Pakistan and ask General Pervez Musharraf to wear off his uniform for restoration of true demo
Published 16 Jun, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (June 15, 2007).

Published 16 Jun, 2007 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

As a rule budget debates should concentrate on the framework of annual financial policy. As well as how typical weaknesses should be overcome. However, lawmakers are political animals and they seldom touch on delivery of public services in their speeches
Published 16 Jun, 2007 12:00am
American Business Council lauds budget

American Business Council lauds budget

President American Business Council of Pakistan (ABC), Iqbal Bengali, stated that the Budget 2007-08 is pro-growth, which envisages among other things, a record development spending of Rs 502 billion. The budget addresses the common man's plight as minimu
Published 16 Jun, 2007 12:00am
American Business Council lauds budget

American Business Council lauds budget

President American Business Council of Pakistan (ABC), Iqbal Bengali, stated that the Budget 2007-08 is pro-growth, which envisages among other things, a record development spending of Rs 502 billion. The budget addresses the common man's plight as minimu
Published 16 Jun, 2007 12:00am
Senate sends budget recommendations to National Assembly

Senate sends budget recommendations to National Assembly

The Senate has forwarded to the National Assembly around 100 recommendations on the budget for fiscal year beginning from July 1. A Senate Standing Committee on Finance finalised these proposals in seven sittings of more than 40 hours. As many as 90 out o
Published 16 Jun, 2007 12:00am
Justice Bhagwandas renews pledge of good news

Justice Bhagwandas renews pledge of good news

There is no pressure on judiciary, the Acting Chief Justice of Supreme Court Justice Rana Bhagwandas said on Friday, with renewing his earlier promise to come up with good news.
Published 16 Jun, 2007 12:00am
THE RUPEE: dollar gains 10 paisa in open market

THE RUPEE: dollar gains 10 paisa in open market

Falling trend was seen in the open market on Friday as the rupee shed 10 paisa against dollar for buying and selling at Rs 61.00 and Rs 61.05 on strong demand for US currency, dealers said. Demands for dollar was up as importers' were active to clear bill
Published 16 Jun, 2007 12:00am
CBR clarifies amendments in Finance Bill 2007-08

CBR clarifies amendments in Finance Bill 2007-08

CBR Chairman M Abdullah Yusuf on Friday announced clarifications on proposed amendment in the Finance Bill 2007-08. He said that the new banking schedule would now be applicable from tax year 2009; petroleum sector is excluded from one percent special sur
Published 16 Jun, 2007 12:00am
THE RUPEE: dollar gains 10 paisa in open market

THE RUPEE: dollar gains 10 paisa in open market

Falling trend was seen in the open market on Friday as the rupee shed 10 paisa against dollar for buying and selling at Rs 61.00 and Rs 61.05 on strong demand for US currency, dealers said. Demands for dollar was up as importers' were active to clear bill
Published 16 Jun, 2007 12:00am
Salaries of policemen raised by Rs 600

Salaries of policemen raised by Rs 600

Adviser to Sindh Chief Minister on Home Affairs Wasim Akhtar on Friday announced a raise in salaries of constables and head-constables of Sindh police. He said that amount of Rs 600 was added to salary of cops as Special Additional Allowance, so that they
Published 16 Jun, 2007 12:00am
Met Office predicts monsoon by month-end

Met Office predicts monsoon by month-end

The Met Office has predict beginning of monsoon rains by end June, according to Director General Meteorological Department Dr Qamar Zaman. He told PTV in an interview that normal monsoon rains are expected in the country but some eastern parts in Sindh an
Published 16 Jun, 2007 12:00am
10 percent value-added sales tax facility restored: KCCI

10 percent value-added sales tax facility restored: KCCI

"The facility for payment of 10 percent minimum value-added sales tax, in advance at customs stage, as available to commercial importers prior to 2007-08 Federal budget should be restored." This was stated by senior vice-president of Karachi Chamber of Co
Published 16 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 15, 2007).

Published 16 Jun, 2007 12:00am
14 held for attacks on soldiers: BLA claims responsibility

14 held for attacks on soldiers: BLA claims responsibility

Police in Quetta have launched a major operation to apprehend suspects behind the killing of nine soldiers in overnight attacks, reports and police said on Friday. Seven soldiers, a police constable, and a passer-by were killed on Thursday night when some
Published 16 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 15, 2007).

Published 16 Jun, 2007 12:00am
Rs 428.390 million allocated for 77 MoSW projects

Rs 428.390 million allocated for 77 MoSW projects

An amount of Rs 428.390 million has been allocated in the budget 2007-08 for 77 ongoing projects being executed by the Social Welfare Ministry under the PSDP to provide relief to the poor of the country.
Published 16 Jun, 2007 12:00am
Sher Afgan condemns Quetta killing

Sher Afgan condemns Quetta killing

Minister for Parliamentary Affairs Dr Sher Afgan Niazi on Friday condemned the killing of some soldiers and cops in Quetta on Thursday. Speaking in response to points of order by opposition members, Dr Sher Afgan said some anti-social elements wanted to d
Published 16 Jun, 2007 12:00am
Long-term flood management measures urged

Long-term flood management measures urged

Liaquat Ali Jatoi, Minister for Water and Power has directed the Flood Commission to finalise comprehensive flood protection plan within a month as the government has doubled the allocation to Rs 1.8 billion in the next fiscal PSDP.
Published 16 Jun, 2007 12:00am
KESC offered to carry out six-hour load shedding

KESC offered to carry out six-hour load shedding

The Karachi Chamber of Commerce and Industry (KCCI) and all the five city associations of trade and industry have voluntarily offered Karachi Electric Supply Corporations (KESC) to carry out six-hour load shedding in industrial areas to normalise power su
Published 16 Jun, 2007 12:00am
No response to strike call in Karachi

No response to strike call in Karachi

Karachiites ignored the strike call for Friday given by Muttahida-Majlis-e-Amal (MMA) and PML (N), with visible apathy. The decision for strike was taken by the PML (N) much before convening the All Parties Conference on Thursday.
Published 16 Jun, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (June 15, 2007) and for Saturday (June 16, 2007).
Published 16 Jun, 2007 12:00am
Two Pakistani army pilots to be honoured

Two Pakistani army pilots to be honoured

Two pilots of Pakistan Army would be given gallantry award of Republic of Slovenia in recognition of their valour and commitment they demonstrated during rescue of a Slovenian mountaineer Tomaz Humar, who got stranded during his expedition to scale Nanaga
Published 16 Jun, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 15, 2007).

Published 16 Jun, 2007 12:00am
Government defends increase in military spending

Government defends increase in military spending

The government defends increase in military spending for the financial year beginning next month, saying unconquerable defence is a top priority. Defence allocation for fiscal 2007-08 was raised by more than nine percent to Rs 275 billion ($4.58 billion)
Published 16 Jun, 2007 12:00am
Foreign entrepreneurs: exclusive industrial zones planned

Foreign entrepreneurs: exclusive industrial zones planned

Planning Commission has planned to establish "Exclusive Industrial Zones" for Chinese and other Central Asian Entrepreneurs near the Industrial Cities of Karachi, Lahore, Faisalabad and Peshawar under National Trade Corridor Programme.
Published 16 Jun, 2007 12:00am
Sales tax law to be amended to control fake exports

Sales tax law to be amended to control fake exports

The Central Board of Revenue (CBR) will amend sales tax law for placing new checks on exports to Afghanistan to control fraudulent cases of sales tax refunds on the fake exports.
Published 16 Jun, 2007 12:00am
Rs three billion released for uplift of working boundary villages

Rs three billion released for uplift of working boundary villages

The government has released special development funds to district government of Rs 3 billion for uplift of the bordering areas of Chawinda and Pasrur along the Working Boundary. Federal Minister for Investment and Privatisation Zahid Hamid disclosed this
Published 16 Jun, 2007 12:00am
New tribal body demands Warsak Dam profit for Fata

New tribal body demands Warsak Dam profit for Fata

'Fata Grand Alliance', a recently constituted body comprising tribesmen from all tribal agencies, has asked the federal government to stop payment of profit hydropower generated by the power house of Warsak Dam to the provincial government of NWFP.
Published 16 Jun, 2007 12:00am
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