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Print - 2007-09-11
'Lord Nazir is violating norms of democracy'

'Lord Nazir is violating norms of democracy'

Punjab Communication and Works Minister Chaudhry Zaheer ud Din Khan on Monday said that Member British House of Lords, Lord Nazir Ahmed was violating universally accepted norms of democracy through his active participation in Pakistani politics.
Published 11 Sep, 2007 12:00am
Deportation Pakistan's business: India

Deportation Pakistan's business: India

India on Monday said Pakistan's deportation of former Prime Minister Nawaz Sharif was "an internal matter," but expressed hope its neighbour would remain peaceful and stable.
Published 11 Sep, 2007 12:00am
UK expresses concern

UK expresses concern

Britain said it was "concerned" and called on Pakistan's government to uphold the rule of law, following the deportation of former Prime Minister Nawaz Sharif on Monday.
Published 11 Sep, 2007 12:00am
Guidelines for Islamic microfinance business issued

Guidelines for Islamic microfinance business issued

The central bank has formulated guidelines for provision of Islamic microfinance products and services by financial institutions. The central bank, in a circular issued on Monday, said that Pakistan was among the few countries in the world, which had a se
Published 11 Sep, 2007 12:00am
Guidelines for Islamic microfinance business issued

Guidelines for Islamic microfinance business issued

The central bank has formulated guidelines for provision of Islamic microfinance products and services by financial institutions. The central bank, in a circular issued on Monday, said that Pakistan was among the few countries in the world, which had a se
Published 11 Sep, 2007 12:00am
Guidelines for Islamic microfinance business issued

Guidelines for Islamic microfinance business issued

The central bank has formulated guidelines for provision of Islamic microfinance products and services by financial institutions. The central bank, in a circular issued on Monday, said that Pakistan was among the few countries in the world, which had a se
Published 11 Sep, 2007 12:00am
APDM observes Black Day today

APDM observes Black Day today

All Parties Democratic Movement (APDM) has announced to observe 'Black Day' on Tuesday and would hold countrywide protest rallies against the deportation of former Prime Minister Nawaz Sharif and arrest of political leaders.
Published 11 Sep, 2007 12:00am
APDM observes Black Day today

APDM observes Black Day today

All Parties Democratic Movement (APDM) has announced to observe 'Black Day' on Tuesday and would hold countrywide protest rallies against the deportation of former Prime Minister Nawaz Sharif and arrest of political leaders.
Published 11 Sep, 2007 12:00am
Late buying pushes up KSE

Late buying pushes up KSE

Karachi share market on Monday took an upward trend on the back of late buying due to recent developments on political front, including deportation of Mian Nawaz Sharif, and the KSE-100 index gained 139.24 points to close at 12,545.95 points'' level. The
Published 11 Sep, 2007 12:00am
Late buying pushes up KSE

Late buying pushes up KSE

Karachi share market on Monday took an upward trend on the back of late buying due to recent developments on political front, including deportation of Mian Nawaz Sharif, and the KSE-100 index gained 139.24 points to close at 12,545.95 points' level. The K
Published 11 Sep, 2007 12:00am
Late buying pushes up KSE

Late buying pushes up KSE

Karachi share market on Monday took an upward trend on the back of late buying due to recent developments on political front, including deportation of Mian Nawaz Sharif, and the KSE-100 index gained 139.24 points to close at 12,545.95 points' level. The K
Published 11 Sep, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
Shipbuilding: 10 orders missed due to capacity constraints

Shipbuilding: 10 orders missed due to capacity constraints

According to a presentation about Karachi Shipyard and Engineering Works (KS&EW), given to President General Pervez Musharraf and Prime Minister Shaukat Aziz, Pakistan missed at least 10 orders of billions of dollars for shipbuilding due to capacity restr
Published 11 Sep, 2007 12:00am
Shipbuilding: 10 orders missed due to capacity constraints

Shipbuilding: 10 orders missed due to capacity constraints

According to a presentation about Karachi Shipyard and Engineering Works (KS&EW), given to President General Pervez Musharraf and Prime Minister Shaukat Aziz, Pakistan missed at least 10 orders of billions of dollars for shipbuilding due to capacity restr
Published 11 Sep, 2007 12:00am
Shipbuilding: 10 orders missed due to capacity constraints

Shipbuilding: 10 orders missed due to capacity constraints

According to a presentation about Karachi Shipyard and Engineering Works (KS&EW), given to President General Pervez Musharraf and Prime Minister Shaukat Aziz, Pakistan missed at least 10 orders of billions of dollars for shipbuilding due to capacity restr
Published 11 Sep, 2007 12:00am
US mildly critical

US mildly critical

The United States mildly rebuked Pakistan's government on Monday for deporting Nawaz Sharif hours after he returned home from exile. State Department spokesman Sean McCormack said the decision to deport Sharif back to Saudi Arabia on Monday went against t
Published 11 Sep, 2007 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
US mildly critical

US mildly critical

The United States mildly rebuked Pakistan's government on Monday for deporting Nawaz Sharif hours after he returned home from exile. State Department spokesman Sean McCormack said the decision to deport Sharif back to Saudi Arabia on Monday went against t
Published 11 Sep, 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 on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
EU urges Pakistan to respect Supreme Court ruling

EU urges Pakistan to respect Supreme Court ruling

The European Union urged Pakistan on Monday to respect its own Supreme Court (SC) ruling and allow former Prime Minister Nawaz Sharif to stay in the country. "In our view, the Supreme Court's view is very clear and should be respected," said Christiane Ho
Published 11 Sep, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
EU urges Pakistan to respect Supreme Court ruling

EU urges Pakistan to respect Supreme Court ruling

The European Union urged Pakistan on Monday to respect its own Supreme Court (SC) ruling and allow former Prime Minister Nawaz Sharif to stay in the country. "In our view, the Supreme Court's view is very clear and should be respected," said Christiane Ho
Published 11 Sep, 2007 12:00am
Senior lawyer shot dead

Senior lawyer shot dead

Former Vice President, Karachi Bar Association, Raja Riaz was killed by some unknown assailants near Arts Council of Pakistan on Monday morning. Some unknown motorcycle riders intercepted Riaz, opened fire while he was on way to the court in a taxi and sp
Published 11 Sep, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (September 10, 2007).

Published 11 Sep, 2007 12:00am
Senior lawyer shot dead

Senior lawyer shot dead

Former Vice President, Karachi Bar Association, Raja Riaz was killed by some unknown assailants near Arts Council of Pakistan on Monday morning. Some unknown motorcycle riders intercepted Riaz, opened fire while he was on way to the court in a taxi and sp
Published 11 Sep, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (September 10, 2007).
Published 11 Sep, 2007 12:00am
Petition filed in Supreme Court

Petition filed in Supreme Court

A leader of PML (N), Khwaja Muhammad Asif, MNA, filed a petition in the Supreme Court on Monday on behalf of former prime minister Nawaz Sharif. The petitioner said that in pursuance of the Orders of the Supreme Court passed on July 23, 2007, Muhamrnad Na
Published 11 Sep, 2007 12:00am
Petition filed in Supreme Court

Petition filed in Supreme Court

A leader of PML (N), Khwaja Muhammad Asif, MNA, filed a petition in the Supreme Court on Monday on behalf of former prime minister Nawaz Sharif. The petitioner said that in pursuance of the Orders of the Supreme Court passed on July 23, 2007, Muhamrnad Na
Published 11 Sep, 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 (September 10, 2007).

Published 11 Sep, 2007 12:00am
Kulsoom Nawaz vows to return home

Kulsoom Nawaz vows to return home

Kulsoom Nawaz, the wife of former Prime Minister Nawaz Sharif, on Monday announced to return home to challenge General Musharraf as her spouse was deported few hours after he returned to Pakistan.
Published 11 Sep, 2007 12:00am
Deportation is contempt of court: Shahbaz

Deportation is contempt of court: Shahbaz

PML-N President and former Chief Minister of Punjab Shehbaz Sharif has termed the deportation of Nawaz Sharif as contempt of court by the rulers. Talking to a private television channel Monday after the deportation of Nawaz Sharif to Saudi Arabia, he said
Published 11 Sep, 2007 12:00am
Sharif 'disappointed'

Sharif 'disappointed'

Nawaz Sharif was "disappointed" to have been deported from his homeland on returning from Britain, but will go back to Pakistan "as soon as he can," his son said on Monday. Hasan Sharif said his father's deportation to Saudi Arabia was "a bad day in the h
Published 11 Sep, 2007 12:00am
Nawaz deported: back in Jeddah

Nawaz deported: back in Jeddah

Nawaz Sharif was sent back to Saudi Arabia in a special plane after his six-hour stay at the Islamabad airport when he arrived here on Monday from London on a PIA flight. The PIA flight PK-786 carrying the former prime minister landed at Islamabad airport
Published 11 Sep, 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 (September 10, 2007).

Published 11 Sep, 2007 12:00am
Nawaz deported: back in Jeddah

Nawaz deported: back in Jeddah

Nawaz Sharif was sent back to Saudi Arabia in a special plane after his six-hour stay at the Islamabad airport when he arrived here on Monday from London on a PIA flight. The PIA flight PK-786 carrying the former prime minister landed at Islamabad airport
Published 11 Sep, 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 (September 10, 2007).

Published 11 Sep, 2007 12:00am
Nawaz was given two options: Shaukat

Nawaz was given two options: Shaukat

Prime Minister Shaukat Aziz on Monday said the government did not force former Prime Minister Nawaz Sharif to return to Saudi Arabia, adding it was his 'own choice'. "We did not force him (Nawaz Sharif) to return. I have been told that he was given two op
Published 11 Sep, 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 (September 10, 2007).

Published 11 Sep, 2007 12:00am
Nawaz was given two options: Shaukat

Nawaz was given two options: Shaukat

Prime Minister Shaukat Aziz on Monday said the government did not force former Prime Minister Nawaz Sharif to return to Saudi Arabia, adding it was his 'own choice'. "We did not force him (Nawaz Sharif) to return. I have been told that he was given two op
Published 11 Sep, 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 11 Sep, 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 11 Sep, 2007 12:00am
Oil cake market rates

Oil cake market rates

Some businesses were seen on the forward cottonseed oilcake market on Monday as a few buyers were in the ring to cover the immediate needs, dealers said. The December vaida was unchanged at Rs 501.00 and market closed at the same level, they said.
Published 11 Sep, 2007 12:00am
Cotton consumers step up buying as prices stabilise

Cotton consumers step up buying as prices stabilise

Improved business was seen on the cotton market on Monday as mills showed interest in the fresh buying due to falling trend in the prices but on the other hand, the ginners tried to be on the sidelines mainly to increase the asking prices, dealers said.
Published 11 Sep, 2007 12:00am
Thin business observed on grain market

Thin business observed on grain market

Sluggish business was witnessed on the grain market on Monday as most of the buyers kept on the sidelines due to lack of buying interest, dealers said. On the seed side cottonseed oilcake with bag old lost Rs 50 to Rs 300-400.
Published 11 Sep, 2007 12:00am
Indian soyaoil futures up

Indian soyaoil futures up

Indian soyaoil futures edged higher on Monday, tracking Malaysian palm oil contracts and sporadic festival demand. At 3:33 pm (1003 GMT), the September soyaoil contract on the National Commodity and Derivatives Exchange was up 0.06 percent at 479.45 rupee
Published 11 Sep, 2007 12:00am
Iraq tenders to buy 30,000 tonnes of rice

Iraq tenders to buy 30,000 tonnes of rice

Iraq's state grain board has issued a tender to buy up to 30,000 tonnes of rice, Iraqi officials said on Monday. Origin is optional, the bidding deadline is September 15 and bids must remain valid until September 23.
Published 11 Sep, 2007 12:00am
Ivorian cocoa arrivals down

Ivorian cocoa arrivals down

Cocoa arrivals at ports in Ivory Coast from October 1, 2006 to September 2, 2007 reached 1,196,272 tonnes, compared with 1,334,215 tonnes received in the same period last year, exporters said on Monday. The figures showed 12,283 tonnes arrived at ports fr
Published 11 Sep, 2007 12:00am
Indonesian palm oil prices mixed

Indonesian palm oil prices mixed

Indonesian palm oil prices were mixed on Monday, pressured by slow demand with dealers expecting prices to ease further this week on rising output. At the state marketing centre in Jakarta, crude palm oil was sold at 7,163 rupiah ($0.763) a kilogram, free
Published 11 Sep, 2007 12:00am
India draws breath, to be back soon for more wheat

India draws breath, to be back soon for more wheat

India, which has helped push wheat prices into uncharted territory with its heady appetite, could take a short breather from buying but will soon be back scouring increasingly barren world markets for shipments.
Published 11 Sep, 2007 12:00am
HRW wheat bids steady to weaker

HRW wheat bids steady to weaker

US Plains hard red winter wheat basis values were steady to weaker Monday as a Kansas merchant was backing off the basis, citing plentiful supplies. Surging futures prices prompted more producer selling of old crop as well as booking of 2008 contracts.
Published 11 Sep, 2007 12:00am
Gulf corn and soyabean mostly steady

Gulf corn and soyabean mostly steady

US CIF corn and soyabean basis values held mostly steady on Monday following a sharp drop in barge freight last week, trader said. Soft and hard red winter wheat basis levels were also unchanged as strong export demand and tight global stocks sent futures
Published 11 Sep, 2007 12:00am
US Midwest corn and soya steady to weak

US Midwest corn and soya steady to weak

Spot basis bids for corn and soyabeans were mostly steady to weak around the interior US Midwest on Monday, but bids were firmer along Midwest rivers amid easing barge freight rates, grain merchants said.
Published 11 Sep, 2007 12:00am
Soya rust fungus in northern Arkansas, south Georgia

Soya rust fungus in northern Arkansas, south Georgia

Soyabean rust fungus was confirmed in north-eastern Arkansas and in southern Georgia, the US Agriculture Department said on its Web site that tracks the yield-cutting plant disease.
Published 11 Sep, 2007 12:00am
Norway shippers lash out at proposed tax change

Norway shippers lash out at proposed tax change

Shipping companies in Norway slammed a proposal for a new shipping tax system, saying it would cost them heavily and calling it a betrayal of a 1996 deal meant to keep them competitive and under the Norwegian flag.
Published 11 Sep, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 126,510 tonnes cargo including 98,918 tonnes import, 27,592 tonnes export cargo and 3,161 containers (TEUs) during last 48 hours ending at 0700 hours on Monday.
Published 11 Sep, 2007 12:00am
Malaysian tin gains

Malaysian tin gains

Malaysian tin rose 1 percent on Monday, shrugging off a fall in London Metal Exchange prices as the market was supported by strong Japanese buying, one trader said.
Published 11 Sep, 2007 12:00am
Kazakhstan raises grain export forecast

Kazakhstan raises grain export forecast

Kazakhstan's Agriculture Ministry raised its grain export forecast to 9.0 million tonnes on Monday from a previous estimate of 7.5-8.0 million tonnes for the 2007-2008 marketing year.
Published 11 Sep, 2007 12:00am
China trims soya estimate

China trims soya estimate

An official China think-tank has cut its 2007 soya crop forecast by 9.8 percent to 14.4 million tonnes, citing drought conditions, but the corn crop is still forecast to rise by 2 percent due to greater planted acreage.
Published 11 Sep, 2007 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai copper shed three-quarters of a percent on Monday following a fall in London futures on a shock decline in US payrolls numbers late last week. US employers cut 4,000 jobs in August, the first time in four years that monthly hiring contracted, the
Published 11 Sep, 2007 12:00am
Gold ends near 16-month high in Asian market

Gold ends near 16-month high in Asian market

Gold was steady on Monday and held within sight of a 16-month high hit last week, while a firmer yen put pressure on Tokyo futures. Spot gold was at $699.80/700.30 an ounce, barely changed from $699.90/700.70 late in New York on Friday.
Published 11 Sep, 2007 12:00am
Russian lobby urges caution on grain intervention

Russian lobby urges caution on grain intervention

Russia should wait until the end of the year before selling grain from intervention stocks and limiting exports, the head of the country's main industry lobby said on Monday. Russian Grain Union President Arcadia Zlochevsky said intervening would drive do
Published 11 Sep, 2007 12:00am
Oil eases over $76 on US job data

Oil eases over $76 on US job data

Oil prices eased but held over $76 on Monday, as expectations Opec will maintain supply curbs on Tuesday countered weak US jobs data that raised concerns of a recession in the world's top consumer. US light crude fell 15 cents to $76.55 a barrel, after cl
Published 11 Sep, 2007 12:00am
CBoT wheat hits record

CBoT wheat hits record

Wheat futures on the Chicago Board of Trade hit a record high on Monday boosted by renewed export demand, traders said. CBOT December wheat in electronic trade was up 22 cents at $8.65-per bushel, after hitting $8.71-3/4.
Published 11 Sep, 2007 12:00am
China refrains from grain exports amid inflation fears

China refrains from grain exports amid inflation fears

Beijing has refrained from issuing expected export quotas for corn and wheat, a move traders said reflected the government's concern that high grain prices are fuelling inflation, already at a 10-year high.
Published 11 Sep, 2007 12:00am
Australia wheat crop on knife-edge

Australia wheat crop on knife-edge

Australia's wheat crop and exports for 2007/08 remained on a knife-edge on Monday after rain failed to arrive over the weekend to rescue crops. This sent Australian wheat futures to a record high of A$427 ($352.89) a tonne, up A$30 on the day.
Published 11 Sep, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices slipped on Monday, tracking falls in futures contract prices on the Tokyo Commodity Exchange. Trading was likely to be busy as more inquiries were expected from tyre makers and dealers in Singapore who have been waiting to buy
Published 11 Sep, 2007 12:00am
Tocom rubber falls three percent

Tocom rubber falls three percent

Tokyo rubber futures tumbled nearly 3 percent to near a two-week low on Monday as a strengthening yen triggered heavy sales, but strong physical demand still supported prices. The benchmark rubber contract on the Tokyo Commodity Exchange for February deli
Published 11 Sep, 2007 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian crude palm oil futures ended 1.2 percent higher in light trade on Monday, as strong growth in exports and weaker-than-expected increase in reserves buoyed the market, traders said.
Published 11 Sep, 2007 12:00am
Sasol in top black empowerment deal

Sasol in top black empowerment deal

South African petrochemical giant Sasol on Monday announced plans to sell 10 percent of its issued share capital, worth more than two billion US dollars (1.5 billion euros), in the country's biggest black empowerment deal.
Published 11 Sep, 2007 12:00am
Brazil slams US subprime investors as 'gamblers'

Brazil slams US subprime investors as 'gamblers'

Brazilian President Luiz Inacio Lula da Silva on Monday compared investment funds he said were responsible for US subprime mortgage woes to "gamblers" and urged Washington to act to avert a global crisis.
Published 11 Sep, 2007 12:00am