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Print - 2007-10-02
Antitrust proceedings against Qualcomm opened

Antitrust proceedings against Qualcomm opened

The European Commission has launched antitrust proceedings against US chip maker Qualcomm after mobile phone manufacturers complained it charged far too much for vital technology licences.
Published 02 Oct, 2007 12:00am
Etisalat selecting PTCL workers for overseas jobs

Etisalat selecting PTCL workers for overseas jobs

Etisalat, operator of PTCL, the largest telecommunications and CDMA service provider in Pakistan, has started the process of short-listing PTCL employees for deputation and secondment to other Etisalat overseas operations.
Published 02 Oct, 2007 12:00am
US online help-wanted advertisements up in September

US online help-wanted advertisements up in September

Help-wanted postings on major US-based Internet job boards edged up 4 percent in September compared with the previous month, a private research group said on Wednesday. The Conference Board said its measure of the number of unduplicated online help-wanted
Published 02 Oct, 2007 12:00am
Bulls dominate ISE proceedings

Bulls dominate ISE proceedings

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities witnessed broad-based recovery under the lead of trend-setters amid increase in index. ISE-10 Index was plus by 93.62 points as the it moved from 2,975.81 to 3,069.43 poi
Published 02 Oct, 2007 12:00am
Bulls dominate ISE proceedings

Bulls dominate ISE proceedings

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities witnessed broad-based recovery under the lead of trend-setters amid increase in index. ISE-10 Index was plus by 93.62 points as the it moved from 2,975.81 to 3,069.43 poi
Published 02 Oct, 2007 12:00am
LSE index takes 154.78 points jump

LSE index takes 154.78 points jump

Charged by fresh buying interest in key scrips, Lahore share market flared up amid growing turnover and remarkable improvement of 3.37 percent in the bench mark index on Monday.
Published 02 Oct, 2007 12:00am
LSE index takes 154.78 points jump

LSE index takes 154.78 points jump

Charged by fresh buying interest in key scrips, Lahore share market flared up amid growing turnover and remarkable improvement of 3.37 percent in the bench mark index on Monday.
Published 02 Oct, 2007 12:00am
BRIndex30 soars by 536.23 points

BRIndex30 soars by 536.23 points

On Monday, the BRIndex30 closed at 14942.42 with a net positive change of 536.23 points with a volume of 241,686,000 shares, which was 76.37 percent of market total and 92.62 percent of KSE-100 index. The volumes of KSE All Share and KSE-100 were 260,923,
Published 02 Oct, 2007 12:00am
BRIndex30 soars by 536.23 points

BRIndex30 soars by 536.23 points

On Monday, the BRIndex30 closed at 14942.42 with a net positive change of 536.23 points with a volume of 241,686,000 shares, which was 76.37 percent of market total and 92.62 percent of KSE-100 index. The volumes of KSE All Share and KSE-100 were 260,923,
Published 02 Oct, 2007 12:00am
Delay in clearance causes huge losses to importers

Delay in clearance causes huge losses to importers

Over 1,000 imported goods containers worth millions of dollar are stuck up at ports for the last two weeks due to delay in the examination by the customs, sources told Business Recorder.
Published 02 Oct, 2007 12:00am
Delay in clearance causes huge losses to importers

Delay in clearance causes huge losses to importers

Over 1,000 imported goods containers worth millions of dollar are stuck up at ports for the last two weeks due to delay in the examination by the customs, sources told Business Recorder.
Published 02 Oct, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (October 01, 2007).

Published 02 Oct, 2007 12:00am
Delay in clearance causes huge losses to importers

Delay in clearance causes huge losses to importers

Over 1,000 imported goods containers worth millions of dollar are stuck up at ports for the last two weeks due to delay in the examination by the customs, sources told Business Recorder.
Published 02 Oct, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (October 01, 2007).

Published 02 Oct, 2007 12:00am
16 killed by burqa-clad suicide bomber near Bannu

16 killed by burqa-clad suicide bomber near Bannu

A suicide bomber, disguised as a woman in a burqa, struck at a police check-post on the outskirts of Bannu on Monday, killing at least 16 people, including four policemen, officials said. It was the latest in a string of deadly attacks and came days befor
Published 02 Oct, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Monday (October 01, 2007).

Published 02 Oct, 2007 12:00am
16 killed by burqa-clad suicide bomber near Bannu

16 killed by burqa-clad suicide bomber near Bannu

A suicide bomber, disguised as a woman in a burqa, struck at a police check-post on the outskirts of Bannu on Monday, killing at least 16 people, including four policemen, officials said. It was the latest in a string of deadly attacks and came days befor
Published 02 Oct, 2007 12:00am
1.2 million tons imported wheat may be stored as reserve

1.2 million tons imported wheat may be stored as reserve

The government may store the 1.2 million tons imported wheat as strategic reserve to meet any emergency, a senior official of the Ministry of Food, Agriculture and Livestock (Minfal) told Business Recorder on Monday.
Published 02 Oct, 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 (October 01, 2007).

Published 02 Oct, 2007 12:00am
New trade route opens with India

New trade route opens with India

Trucks carrying tomatoes crossed the border between India and Pakistan on Monday, the first goods vehicles to do so in past 60 years, officials said. The neighbours agreed in August to allow each others'' trucks over their only land border as part of a sl
Published 02 Oct, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT on Monday (October 01, 2007).

Published 02 Oct, 2007 12:00am
New trade route opens with India

New trade route opens with India

Trucks carrying tomatoes crossed the border between India and Pakistan on Monday, the first goods vehicles to do so in past 60 years, officials said. The neighbours agreed in August to allow each others' trucks over their only land border as part of a slo
Published 02 Oct, 2007 12:00am
New trade route opens with India

New trade route opens with India

Trucks carrying tomatoes crossed the border between India and Pakistan on Monday, the first goods vehicles to do so in past 60 years, officials said. The neighbours agreed in August to allow each others' trucks over their only land border as part of a slo
Published 02 Oct, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (October 01, 2007).

Published 02 Oct, 2007 12:00am
FBR achieves revenue target for September

FBR achieves revenue target for September

The Federal Board of Revenue (FBR) has achieved revenue collection target of over and above Rs 100 billion set for September 2007 with reasonable growth in sales tax and customs duty despite the ongoing political unrest, sluggish business activity in Rama
Published 02 Oct, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (October 01, 2007).
Published 02 Oct, 2007 12:00am
FBR achieves revenue target for September

FBR achieves revenue target for September

The Federal Board of Revenue (FBR) has achieved revenue collection target of over and above Rs 100 billion set for September 2007 with reasonable growth in sales tax and customs duty despite the ongoing political unrest, sluggish business activity in Rama
Published 02 Oct, 2007 12:00am
FBR achieves revenue target for September

FBR achieves revenue target for September

The Federal Board of Revenue (FBR) has achieved revenue collection target of over and above Rs 100 billion set for September 2007 with reasonable growth in sales tax and customs duty despite the ongoing political unrest, sluggish business activity in Rama
Published 02 Oct, 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 (October 01, 2007).

Published 02 Oct, 2007 12:00am
MOL sets aside PPRs in awarding $24 million contract

MOL sets aside PPRs in awarding $24 million contract

MOL-an oil and gas exploration and production company-has set aside the Public Procurement Rules (PPRs) for grant of over $24 million contract by not advertising in the press for supply of seemless pipeline to the party picked up on selection basis for Ma
Published 02 Oct, 2007 12:00am
MOL sets aside PPRs in awarding $24 million contract

MOL sets aside PPRs in awarding $24 million contract

MOL-an oil and gas exploration and production company-has set aside the Public Procurement Rules (PPRs) for grant of over $24 million contract by not advertising in the press for supply of seemless pipeline to the party picked up on selection basis for Ma
Published 02 Oct, 2007 12:00am
MOL sets aside PPRs in awarding $24 million contract

MOL sets aside PPRs in awarding $24 million contract

MOL-an oil and gas exploration and production company-has set aside the Public Procurement Rules (PPRs) for grant of over $24 million contract by not advertising in the press for supply of seemless pipeline to the party picked up on selection basis for Ma
Published 02 Oct, 2007 12:00am
IGP, DC, SSP suspended on Supreme Court orders

IGP, DC, SSP suspended on Supreme Court orders

On Supreme Court orders, the Federal Government on Monday suspended Inspector-General of Police Merwat Shah, Deputy Commissioner Mohammad Ali and Senior Superintendent of Police Islamabad Dr Naeem on charges of use of force and thrashing of lawyers and me
Published 02 Oct, 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 (October 01, 2007).

Published 02 Oct, 2007 12:00am
IGP, DC, SSP suspended on Supreme Court orders

IGP, DC, SSP suspended on Supreme Court orders

On Supreme Court orders, the Federal Government on Monday suspended Inspector-General of Police Merwat Shah, Deputy Commissioner Mohammad Ali and Senior Superintendent of Police Islamabad Dr Naeem on charges of use of force and thrashing of lawyers and me
Published 02 Oct, 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 (October 01, 2007).

Published 02 Oct, 2007 12:00am
Five, including Musharraf, Amin, Wajih, in the arena

Five, including Musharraf, Amin, Wajih, in the arena

The Election Commission (EC) on Monday said that five candidates were running for the office of the President, after withdrawal of nomination papers by National Assembly Speaker Amir Hussain, covering candidate for General Pervez Musharraf.
Published 02 Oct, 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 (October 01, 2007).

Published 02 Oct, 2007 12:00am
Five, including Musharraf, Amin, Wajih, in the arena

Five, including Musharraf, Amin, Wajih, in the arena

The Election Commission (EC) on Monday said that five candidates were running for the office of the President, after withdrawal of nomination papers by National Assembly Speaker Amir Hussain, covering candidate for General Pervez Musharraf.
Published 02 Oct, 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 02 Oct, 2007 12:00am
APDM to quit assemblies today: Zafarul Haq

APDM to quit assemblies today: Zafarul Haq

Members of Parliament belonging to All Parties Democratic Movement (APDM) would collectively resign from assemblies on Tuesday in protest against President General Pervez Musharraf's candidature for becoming President for the third term.
Published 02 Oct, 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 02 Oct, 2007 12:00am
APDM to quit assemblies today: Zafarul Haq

APDM to quit assemblies today: Zafarul Haq

Members of Parliament belonging to All Parties Democratic Movement (APDM) would collectively resign from assemblies on Tuesday in protest against President General Pervez Musharraf's candidature for becoming President for the third term.
Published 02 Oct, 2007 12:00am
PPP will never enter into a deal with generals: Khuhro

PPP will never enter into a deal with generals: Khuhro

The opposition leader, Sindh Assembly, Nisar Ahmed Khuhro has urged the social workers, intelligentsia, writers, educationists and technocrats to work on a common social, economic and political agenda of Sindh development.
Published 02 Oct, 2007 12:00am
'Benazir will be given rousing welcome'

'Benazir will be given rousing welcome'

"Pakistan Peoples Party Azad Kashmir will accord rousing welcome to Benazir Bhutto on October 18. Pakistan was facing internal and external threats and Benazir is the only leader who has the ability to bring true democracy in the country.
Published 02 Oct, 2007 12:00am
Highlights of Faisalabad Garment City

Highlights of Faisalabad Garment City

The Textile sector of Pakistan is contributing 65%- 68% of total exports every year. Faisalabad Garment City is the Textile infrastructure project. Slicing the vertical production chain to create horizontal spaces for specialised production.
Published 02 Oct, 2007 12:00am
PPP supports lawyers, journalists' struggle

PPP supports lawyers, journalists' struggle

Secretary General, Pakistan People's Party, Sindh Nafis Siddiqui said PPP will support ongoing peaceful just struggle of lawyers and journalists for rule of law, independent judiciary, press freedom and establishing a civil society in the country.
Published 02 Oct, 2007 12:00am
Faisalabad Germent City

Faisalabad Germent City

The Faisalabad Garment City is 2nd of the three garment cities to be set up in the country, is located in the Value Addition City and is being established by the Federal Government through funding from the Public Sector Development Program (PSDP) under th
Published 02 Oct, 2007 12:00am
PPP condemns Bannu blast

PPP condemns Bannu blast

The Pakistan People's Party strongly condemned the suicide blast at Bannu that claimed 15 lives and resulted in 22 injuries, early on Monday morning. The suicide blast that took place at a crowded police checkpoint in Bannu is fourth in the series of succ
Published 02 Oct, 2007 12:00am
Overview of Faisalabad Garment City project

Overview of Faisalabad Garment City project

Under new Textile Policy it is envisaged that three Garment Cities would be established at Lahore. Karachi & Faisalabad to develop state of the art facilities for Garment manufacturers.
Published 02 Oct, 2007 12:00am
Benazir says she might allow US strike on Osama

Benazir says she might allow US strike on Osama

Former Prime Minister Benazir Bhutto said on Monday that she might allow a US military strike inside Pakistan to eliminate al Qaeda leader Osama bin Laden if she were the country's leader.
Published 02 Oct, 2007 12:00am
Prices mostly unchanged on grain market

Prices mostly unchanged on grain market

Firmness prevailed in the grain prices on Monday as most of the commodity items did not show any change in process of trading, dealers said. On the seed side cottonseed oilcake with bag Sindh type registered at Rs 450-500. Punjab low type picked by Rs 5 t
Published 02 Oct, 2007 12:00am
Benazir says she might allow US strike on Osama

Benazir says she might allow US strike on Osama

Former Prime Minister Benazir Bhutto said on Monday that she might allow a US military strike inside Pakistan to eliminate al Qaeda leader Osama bin Laden if she were the country's leader.
Published 02 Oct, 2007 12:00am
Oil cake market rates

Oil cake market rates

Slow business was seen on the forward cottonseed oilcake market on Monday as some buyers showed a little interest in the fresh seals, dealers said. The December vaida commenced with no change at Rs 500.00 and market closed at the same level, they said.
Published 02 Oct, 2007 12:00am
Presidential election: plea seeks stay order

Presidential election: plea seeks stay order

A senior lawyer Dr Farooq Hasan has filed a petition in the Supreme Court for a stay of the 6th October presidential polls. In the petition the Chief Election Commissioner for accepting nomination papers of General Pervez Musharraf and President Musharraf
Published 02 Oct, 2007 12:00am
Exporters' entry increases activity, prices on cotton market

Exporters' entry increases activity, prices on cotton market

Exporters' entry pushed the prices higher on the cotton market on Monday, dealers said. The Karachi Cotton Association (KCA) official spot rate was up by Rs 50 at Rs 2875, dealers said. Phutti prices in Punjab were lower at Rs 1325-1370 and it was trading
Published 02 Oct, 2007 12:00am
Presidential election: plea seeks stay order

Presidential election: plea seeks stay order

A senior lawyer Dr Farooq Hasan has filed a petition in the Supreme Court for a stay of the 6th October presidential polls. In the petition the Chief Election Commissioner for accepting nomination papers of General Pervez Musharraf and President Musharraf
Published 02 Oct, 2007 12:00am
Tunisia buys US corn

Tunisia buys US corn

Tunisia's state grains agency bought 75,000 tonnes of US corn (maize) for shipment in November at a tender last week, European traders said on Monday. Traders said the maize purchased was US No 3 yellow corn and that Tunis had paid $279.75 and $280.80 C&F
Published 02 Oct, 2007 12:00am
Wheat flour crisis: Prime Minister holds Punjab responsible

Wheat flour crisis: Prime Minister holds Punjab responsible

Prime Minister Shaukat Aziz has held the Punjab government responsible for the ongoing wheat flour crisis in different parts of the country, it is learnt. Sources told Business Recorder that the Prime Minister also wrote a letter to Punjab Chief Mi
Published 02 Oct, 2007 12:00am
Jute goods mixed on Jodia Bazaar

Jute goods mixed on Jodia Bazaar

The trading on jute goods closed mixed on Jodia Bazaar here on Monday. The following variations were noted.
Published 02 Oct, 2007 12:00am
Wheat flour crisis: Prime Minister holds Punjab responsible

Wheat flour crisis: Prime Minister holds Punjab responsible

Prime Minister Shaukat Aziz has held the Punjab government responsible for the ongoing wheat flour crisis in different parts of the country, it is learnt. Sources told Business Recorder that the Prime Minister also wrote a letter to Punjab Chief Mi
Published 02 Oct, 2007 12:00am
US Midwest corn and soyabean bids steady

US Midwest corn and soyabean bids steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest Monday but rose at some processors that were trying to drum up crushing supplies, grain dealers said. "We are just trying to get bushels," said a dealer at a processor in sout
Published 02 Oct, 2007 12:00am
Wheat flour crisis: Prime Minister holds Punjab responsible

Wheat flour crisis: Prime Minister holds Punjab responsible

Prime Minister Shaukat Aziz has held the Punjab government responsible for the ongoing wheat flour crisis in different parts of the country, it is learnt. Sources told Business Recorder that the Prime Minister also wrote a letter to Punjab Chief Mi
Published 02 Oct, 2007 12:00am
Gulf corn and soya basis values steady

Gulf corn and soya basis values steady

US CIF corn and soyabean basis values were steady Monday morning after a big harvest weekend in the Midwest, traders said. Freight on the Mississippi River jumped sharply late Friday as elevators bought barges in anticipation of buying large amounts of co
Published 02 Oct, 2007 12:00am
EC, business leaders push for nuclear power

EC, business leaders push for nuclear power

Leaders of the European Union and the bloc's major energy firms urged member states on Monday to consider making greater use of nuclear power at a conference held in Spain. "Member states can not avoid the question of nuclear energy. There needs to be a t
Published 02 Oct, 2007 12:00am
Indian panel to review progress of steel projects

Indian panel to review progress of steel projects

India will review next Monday the progress of planned steel projects, including investment proposals worth billions of dollars by South Korea's POSCO and global leader Arcelor Mittal, a minister said on Monday.
Published 02 Oct, 2007 12:00am
KSE index up 385.68 points

KSE index up 385.68 points

The KSE-100 index witnessed a healthy single day increase of 385.68 points to close at 13,737.47 points'' level on Monday on the back of positive developments on political front. The KSE-30 index surged by 593.60 points to close at 16,776.69 points'' leve
Published 02 Oct, 2007 12:00am
HRW wheat bids holding steady

HRW wheat bids holding steady

Basis bids for US Plains hard red winter wheat held steady Monday as the market was quiet amid the fall harvest and winter wheat seeding by price-conscious producers. Protein premiums for railcar wheat to and through Kansas City were 2 cents a bushel lowe
Published 02 Oct, 2007 12:00am
KSE index up 385.68 points

KSE index up 385.68 points

The KSE-100 index witnessed a healthy single day increase of 385.68 points to close at 13,737.47 points' level on Monday on the back of positive developments on political front. The KSE-30 index surged by 593.60 points to close at 16,776.69 points' level.
Published 02 Oct, 2007 12:00am
Hungary launches online grains trading platform

Hungary launches online grains trading platform

The Budapest Stock Exchange (BSE) has launched an online trading systemised on "warehouse warrants", securities popular with Hungarian farmers to use as collateral for bank loans, the BSE said on Monday.
Published 02 Oct, 2007 12:00am
KSE index up 385.68 points

KSE index up 385.68 points

The KSE-100 index witnessed a healthy single day increase of 385.68 points to close at 13,737.47 points' level on Monday on the back of positive developments on political front. The KSE-30 index surged by 593.60 points to close at 16,776.69 points' level.
Published 02 Oct, 2007 12:00am
Ivory Coast cocoa arrivals seen down

Ivory Coast cocoa arrivals seen down

Cocoa arrivals at ports in Ivory Coast reached around 1,292,000 tonnes for the entire 2006/07 cocoa season from October 1 to September 30, exporters estimated on Monday, compared with 1,386,938 tonnes last year.
Published 02 Oct, 2007 12:00am
Dow hits record high

Dow hits record high

Wall Street shares surged higher Monday, kicking off the fourth quarter with gusto, with the Dow hitting a record high as investors appeared to bank on easier credit. The Dow Jones Industrial Average was up 142.74 points (1.03 percent) to 14,038.37 around
Published 02 Oct, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday due to tight supply, and its differential to fuel oil cargoes remained in discount for a fourth-straight session.
Published 02 Oct, 2007 12:00am
Dow hits record high

Dow hits record high

Wall Street shares surged higher Monday, kicking off the fourth quarter with gusto, with the Dow hitting a record high as investors appeared to bank on easier credit. The Dow Jones Industrial Average was up 142.74 points (1.03 percent) to 14,038.37 around
Published 02 Oct, 2007 12:00am