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Print - 2007-12-28
Black marketing, profiteering rule LPG market

Black marketing, profiteering rule LPG market

Black marketing and profiteering rule the liquefied petroleum gas market as exploiters are selling 11.8 kg cylinder for Rs 855 at retail level against fixed ceiling retail price of Rs 650 per cylinder across the country.
Published 28 Dec, 2007 12:00am
Black marketing, profiteering rule LPG market

Black marketing, profiteering rule LPG market

Black marketing and profiteering rule the liquefied petroleum gas market as exploiters are selling 11.8 kg cylinder for Rs 855 at retail level against fixed ceiling retail price of Rs 650 per cylinder across the country.
Published 28 Dec, 2007 12:00am
KSE-100 index down by 42.77 points

KSE-100 index down by 42.77 points

Karachi share market started on positive note on Thursday and the benchmark KSE-100 index hit 14,875.40 points highest-ever intra-day level, but it failed to continue its upward trend as the market participants opted for profit taking on available margins
Published 28 Dec, 2007 12:00am
KSE-100 index down by 42.77 points

KSE-100 index down by 42.77 points

Karachi share market started on positive note on Thursday and the benchmark KSE-100 index hit 14,875.40 points highest-ever intra-day level, but it failed to continue its upward trend as the market participants opted for profit taking on available margins
Published 28 Dec, 2007 12:00am
KSE-100 index down by 42.77 points

KSE-100 index down by 42.77 points

Karachi share market started on positive note on Thursday and the benchmark KSE-100 index hit 14,875.40 points highest-ever intra-day level, but it failed to continue its upward trend as the market participants opted for profit taking on available margins
Published 28 Dec, 2007 12:00am
ECC decides to import extra 500,000 tons wheat

ECC decides to import extra 500,000 tons wheat

The Economic Co-ordination Committee (ECC) of the Cabinet on Thursday decided to import 500,000 tonnes of wheat, in addition to one million tonnes approved a couple of months ago. It was presided over by caretaker Prime Minister Mohammedmian Soomro also a
Published 28 Dec, 2007 12:00am
ECC decides to import extra 500,000 tons wheat

ECC decides to import extra 500,000 tons wheat

The Economic Co-ordination Committee (ECC) of the Cabinet on Thursday decided to import 500,000 tonnes of wheat, in addition to one million tonnes approved a couple of months ago. It was presided over by caretaker Prime Minister Mohammedmian Soomro also a
Published 28 Dec, 2007 12:00am
ECC decides to import extra 500,000 tons wheat

ECC decides to import extra 500,000 tons wheat

The Economic Co-ordination Committee (ECC) of the Cabinet on Thursday decided to import 500,000 tonnes of wheat, in addition to one million tonnes approved a couple of months ago. It was presided over by caretaker Prime Minister Mohammedmian Soomro also a
Published 28 Dec, 2007 12:00am
Pakistan''s foreign exchange reserves up $22.3 million

Pakistan''s foreign exchange reserves up $22.3 million

Liquid foreign exchange reserves have risen to 22.3 million dollars during the week ended on December 22. According to the State Bank of Pakistan (SBP), total liquid foreign exchange reserves, held by the country on December 22, stood at 15.6047 billion d
Published 28 Dec, 2007 12:00am
Pakistan's foreign exchange reserves up $22.3 million

Pakistan's foreign exchange reserves up $22.3 million

Liquid foreign exchange reserves have risen to 22.3 million dollars during the week ended on December 22. According to the State Bank of Pakistan (SBP), total liquid foreign exchange reserves, held by the country on December 22, stood at 15.6047 billion d
Published 28 Dec, 2007 12:00am
Pakistan's foreign exchange reserves up $22.3 million

Pakistan's foreign exchange reserves up $22.3 million

Liquid foreign exchange reserves have risen to 22.3 million dollars during the week ended on December 22. According to the State Bank of Pakistan (SBP), total liquid foreign exchange reserves, held by the country on December 22, stood at 15.6047 billion d
Published 28 Dec, 2007 12:00am
Gold price rises to Rs 16,285 per 10 grams

Gold price rises to Rs 16,285 per 10 grams

Gold price on Thursday further surged up to Rs 16,285 per 10 grams due to increase in its international price, which reached 825 dollars per ounce, traders said. With the latest price increase the gold was now being sold in the local market at Rs 16,285 p
Published 28 Dec, 2007 12:00am
Gold price rises to Rs 16,285 per 10 grams

Gold price rises to Rs 16,285 per 10 grams

Gold price on Thursday further surged up to Rs 16,285 per 10 grams due to increase in its international price, which reached 825 dollars per ounce, traders said. With the latest price increase the gold was now being sold in the local market at Rs 16,285 p
Published 28 Dec, 2007 12:00am
Gold price rises to Rs 16,285 per 10 grams

Gold price rises to Rs 16,285 per 10 grams

Gold price on Thursday further surged up to Rs 16,285 per 10 grams due to increase in its international price, which reached 825 dollars per ounce, traders said. With the latest price increase the gold was now being sold in the local market at Rs 16,285 p
Published 28 Dec, 2007 12:00am
Four killed in Taunsa blast

Four killed in Taunsa blast

A bomb blast on Chashma right bank canal Taunsa Bharati road on Thursday morning resulted in the death of four persons, including three minors who were real brothers, and a man related to them. DSP Taunsa, Malik Khalid Mahmood told APP that the blast occu
Published 28 Dec, 2007 12:00am
BRIndex30 down 116.34 points

BRIndex30 down 116.34 points

On Thursday, the BRIndex30 opened in the positive zone at 16,346.89. It closed at 16,188.91 with a net negative change of -116.34 points and percentage change of -0.71. It recorded intra-day high of 16,361.25 and intra-day low of 16,133.27 with volume of
Published 28 Dec, 2007 12:00am
BRIndex30 down 116.34 points

BRIndex30 down 116.34 points

On Thursday, the BRIndex30 opened in the positive zone at 16,346.89. It closed at 16,188.91 with a net negative change of -116.34 points and percentage change of -0.71. It recorded intra-day high of 16,361.25 and intra-day low of 16,133.27 with volume of
Published 28 Dec, 2007 12:00am
THE RUPEE: dollar rises further

THE RUPEE: dollar rises further

The rupee extended its slide against dollar in the interbank market on Wednesday as the rupee shed another 10 paisa for buying and selling at Rs 61.42 and Rs 61.44, currency experts said. Persisting demand for dollar did not allow the rupee to move ahead
Published 28 Dec, 2007 12:00am
THE RUPEE: dollar rises further

THE RUPEE: dollar rises further

The rupee extended its slide against dollar in the interbank market on Wednesday as the rupee shed another 10 paisa for buying and selling at Rs 61.42 and Rs 61.44, currency experts said. Persisting demand for dollar did not allow the rupee to move ahead
Published 28 Dec, 2007 12:00am
More than 130 feared dead after Indonesian rains

More than 130 feared dead after Indonesian rains

Indonesian rescuers hunted Thursday for victims of landslides and floods on Java island that have left more than 130 people feared dead and tens of thousands displaced, officials said.
Published 28 Dec, 2007 12:00am
Natural catastrophes will grow with climate change: re-insurer

Natural catastrophes will grow with climate change: re-insurer

Natural catastrophes in 2007 were more frequent and costlier than a year earlier and climate change will make them more expensive still, the world's second-biggest re-insurer, Munich Re, said Thursday. There were 950 natural catastrophes in 2007 compared
Published 28 Dec, 2007 12:00am
Serb EU snub is home politics - incoming EU presidency

Serb EU snub is home politics - incoming EU presidency

Serbia's threat to turn its back on EU membership over Kosovo probably has more to do with electioneering than political reality, incoming EU president Slovenia said on Thursday. "Nobody is being forced to become a member," Slovene Foreign Minister Dimitr
Published 28 Dec, 2007 12:00am
Ireland helped US spying after Cuban crisis: archives

Ireland helped US spying after Cuban crisis: archives

Ireland agreed to a US request to search Cuban and Czech aircraft passing through Shannon airport in the wake of the 1962 Cuban missile crisis, previously secret documents released Friday showed. Prime minister Sean Lemass personally gave neutral Ireland'
Published 28 Dec, 2007 12:00am
Some tourists shunning India's Goa over protests: official, hotelier

Some tourists shunning India's Goa over protests: official, hotelier

Tourists are cancelling holidays to the Indian beach resort of Goa over fears of violent protests against government plans to build more industrial parks here, an official and a hotelier said. Opposition political parties and environmental groups have set
Published 28 Dec, 2007 12:00am
North Korea nuclear talks at crossroads: South Korean foreign minister

North Korea nuclear talks at crossroads: South Korean foreign minister

International efforts to scrap North Korea's nuclear programmes are at a crossroads due mainly to disagreements over a suspected secret weapons project, South Korea's foreign minister said Thursday. "It is true that we are at a crossroads on the nuclear i
Published 28 Dec, 2007 12:00am
Sri Lanka says fighter jets destroy Sea Tiger base

Sri Lanka says fighter jets destroy Sea Tiger base

Sri Lankan jets bombed and destroyed a northern Tamil Tiger naval base on Thursday, the military said, a day after a fierce sea battle that left up to 52 rebels and navy sailors dead.
Published 28 Dec, 2007 12:00am
Selling pressure grips ISE

Selling pressure grips ISE

Selling pressure intensified in trend-setters at the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready-board in downward direction amid decrease in index. ISE-10 Index was down by 6.38 points as it moved from 3045.81 to 304
Published 28 Dec, 2007 12:00am
Selling pressure grips ISE

Selling pressure grips ISE

Selling pressure intensified in trend-setters at the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready-board in downward direction amid decrease in index. ISE-10 Index was down by 6.38 points as it moved from 3045.81 to 304
Published 28 Dec, 2007 12:00am
LSE stays range-bound

LSE stays range-bound

The share market, the Lahore Stock Exchange (LSE), on Thursday appeared jittery since a majority of investors, including potential ones, have stayed on sidelines avoiding risks ahead of the general elections. There was hardly any change in the market's ov
Published 28 Dec, 2007 12:00am
LSE stays range-bound

LSE stays range-bound

The share market, the Lahore Stock Exchange (LSE), on Thursday appeared jittery since a majority of investors, including potential ones, have stayed on sidelines avoiding risks ahead of the general elections. There was hardly any change in the market's ov
Published 28 Dec, 2007 12:00am
Benazir, Karzai vow to combat terrorism

Benazir, Karzai vow to combat terrorism

Afghan President Hamid Karzai and Pakistan People's Party (PPP) Chairperson Benazir Bhutto have stressed the need for enhancing bilateral co-operation to uproot terrorism and extremism. They urged both Pakistan and Afghanistan would take joint measure to
Published 28 Dec, 2007 12:00am
Paramilitary forces on red alert

Paramilitary forces on red alert

Paramilitary forces were put on 'red alert' across the country on Thursday after the assassination of Benazir Bhutto sparked violent protests by her supporters.
Published 28 Dec, 2007 12:00am
UAE 'tormented'

UAE 'tormented'

The United Arab Emirates condemned the assassination of Benazir Bhutto and called for the country to unite. "The UAE has been tormented by this huge loss, which did not hit Pakistan only, but also affected the UAE," Foreign Minister Sheikh Abdullah bin Za
Published 28 Dec, 2007 12:00am
UAE 'tormented'

UAE 'tormented'

The United Arab Emirates condemned the assassination of Benazir Bhutto and called for the country to unite. "The UAE has been tormented by this huge loss, which did not hit Pakistan only, but also affected the UAE," Foreign Minister Sheikh Abdullah bin Za
Published 28 Dec, 2007 12:00am
Terrible blow to democracy: Manmohan

Terrible blow to democracy: Manmohan

India said the assassination of Benazir Bhutto on Thursday was a tragedy and a terrible blow to the democratic process. "In her death the subcontinent has lost an outstanding leader who worked for democracy and reconciliation in her country," Prime Minist
Published 28 Dec, 2007 12:00am
EU condemns killing as strike 'against Pakistan'

EU condemns killing as strike 'against Pakistan'

The European Commission condemned on Thursday the killing of Benazir Bhutto as "an attack against democracy and against Pakistan." "The European Commission condemns this callous terrorist attack perpetrated less than two weeks ahead of election day in the
Published 28 Dec, 2007 12:00am
China shocked

China shocked

China on Thursday expressed shock at the assassination of Benazir Bhutto and "strongly condemns" the attack, state media reported. Foreign ministry spokesman Qin Gang said China "is shocked at the killing of Benazir and strongly condemns the terrorist att
Published 28 Dec, 2007 12:00am
UK urges restraint

UK urges restraint

British Foreign Secretary David Miliband voiced shock at the killing of Benazir Bhutto on Thursday and called for restraint. "In targeting Benazir Bhutto extremist groups have in their sights all those committed to democratic processes in Pakistan. They c
Published 28 Dec, 2007 12:00am
Thatcher's US bathroom farce revealed in new documents

Thatcher's US bathroom farce revealed in new documents

As British premier, Margaret Thatcher may have forged a strong "special relationship" with the US, but an early visit did not always offer a warm introduction to the nation, documents released Friday show.
Published 28 Dec, 2007 12:00am
Pakistan CDS widen

Pakistan CDS widen

Pakistan 5-year credit default swaps, used to insure against restructuring or default, widened by at least 30 basis points on Thursday after Benazir Bhutto was killed in a gun and bomb attack. CDS spreads widened by 30 basis points to 400-430 basis points
Published 28 Dec, 2007 12:00am
Pakistan CDS widen

Pakistan CDS widen

Pakistan 5-year credit default swaps, used to insure against restructuring or default, widened by at least 30 basis points on Thursday after Benazir Bhutto was killed in a gun and bomb attack. CDS spreads widened by 30 basis points to 400-430 basis points
Published 28 Dec, 2007 12:00am
Pakistan CDS widen

Pakistan CDS widen

Pakistan 5-year credit default swaps, used to insure against restructuring or default, widened by at least 30 basis points on Thursday after Benazir Bhutto was killed in a gun and bomb attack. CDS spreads widened by 30 basis points to 400-430 basis points
Published 28 Dec, 2007 12:00am
Pakistan CDS widen

Pakistan CDS widen

Pakistan 5-year credit default swaps, used to insure against restructuring or default, widened by at least 30 basis points on Thursday after Benazir Bhutto was killed in a gun and bomb attack. CDS spreads widened by 30 basis points to 400-430 basis points
Published 28 Dec, 2007 12:00am
UNSC calls for restraint

UNSC calls for restraint

The UN Security Council denounced the assassination of opposition leader Benazir Bhutto on Thursday as a "heinous act of terrorism" and called on all Pakistanis to exercise restraint.
Published 28 Dec, 2007 12:00am
UNSC calls for restraint

UNSC calls for restraint

The UN Security Council denounced the assassination of opposition leader Benazir Bhutto on Thursday as a "heinous act of terrorism" and called on all Pakistanis to exercise restraint.
Published 28 Dec, 2007 12:00am
World leaders shocked

World leaders shocked

World leaders condemned the assassination of Pakistani opposition leader Benazir Bhutto on Thursday and warned that extremists must not be allowed to destabilise the country ahead of next month's vote.
Published 28 Dec, 2007 12:00am
World leaders shocked

World leaders shocked

World leaders condemned the assassination of Pakistani opposition leader Benazir Bhutto on Thursday and warned that extremists must not be allowed to destabilise the country ahead of next month's vote.
Published 28 Dec, 2007 12:00am
Bush condemns 'cowardly' act

Bush condemns 'cowardly' act

US President George W Bush on Thursday strongly condemned the 'cowardly' assassination of Benazir Bhutto and urged the key US ally to stay on the democratic path. "The US strongly condemns this cowardly act by murderous extremists who are trying to underm
Published 28 Dec, 2007 12:00am
Bush condemns 'cowardly' act

Bush condemns 'cowardly' act

US President George W Bush on Thursday strongly condemned the 'cowardly' assassination of Benazir Bhutto and urged the key US ally to stay on the democratic path. "The US strongly condemns this cowardly act by murderous extremists who are trying to underm
Published 28 Dec, 2007 12:00am
Assassination worries investors, markets

Assassination worries investors, markets

Benazir Bhutto''s killing will boost perceived risk in nuclear-armed Pakistan, analysts warned on Thursday, but some said it was not in itself surprising enough to substantially change investor sentiment.
Published 28 Dec, 2007 12:00am
Assassination worries investors, markets

Assassination worries investors, markets

Benazir Bhutto's killing will boost perceived risk in nuclear-armed Pakistan, analysts warned on Thursday, but some said it was not in itself surprising enough to substantially change investor sentiment.
Published 28 Dec, 2007 12:00am
Assassination worries investors, markets

Assassination worries investors, markets

Benazir Bhutto's killing will boost perceived risk in nuclear-armed Pakistan, analysts warned on Thursday, but some said it was not in itself surprising enough to substantially change investor sentiment.
Published 28 Dec, 2007 12:00am
Two trains attacked, set on fire

Two trains attacked, set on fire

Pakistan Railways on Thursday suspended their services for an unspecified time after two of its trains Shah Latif Express at Hyderabad and Kushal Khan Khattak Express at Naudero, were set on fire by angry mob.
Published 28 Dec, 2007 12:00am
Two trains attacked, set on fire

Two trains attacked, set on fire

Pakistan Railways on Thursday suspended their services for an unspecified time after two of its trains Shah Latif Express at Hyderabad and Kushal Khan Khattak Express at Naudero, were set on fire by angry mob.
Published 28 Dec, 2007 12:00am
Five killed in Karachi violence

Five killed in Karachi violence

City-wide violent protests, apparently by the enraged PPP workers who were shockingly grieved over the assassination of their outspoken party leader, left at least five people dead in Karachi. Sources in Edhi and Cheepa, however, did not confirm reports o
Published 28 Dec, 2007 12:00am
Asian oil swaps up

Asian oil swaps up

Outright Asian oil swaps were generally higher on Thursday, lifted by stronger crude oil prices, but front-month naphtha swaps slipped on profit taking. Front-month gas oil swaps rose $1.30 to $110 a barrel by mid-session, their highest level in nearly fi
Published 28 Dec, 2007 12:00am
Five killed in Karachi violence

Five killed in Karachi violence

City-wide violent protests, apparently by the enraged PPP workers who were shockingly grieved over the assassination of their outspoken party leader, left at least five people dead in Karachi. Sources in Edhi and Cheepa, however, did not confirm reports o
Published 28 Dec, 2007 12:00am
Asian fuel oil

Asian fuel oil

India's Hindustan Petroleum Corp Ltd (HPCL) has sold via tender 25,000-30,000 tonnes of January-loading fuel oil to Emirates National Oil Co (ENOC) at an undisclosed price, traders said on Thursday. The 380-centistoke (cst) cargo, of 4.0 percent sulphur a
Published 28 Dec, 2007 12:00am
Musharraf appeals for peace: three-day mourning declared

Musharraf appeals for peace: three-day mourning declared

President Pervez Musharraf has declared three days national mourning to 'weep for' assassinated former premier Benazir but does not mention whether the tragedy will also force the postponement of early next month's parliamentary polls.
Published 28 Dec, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices were quoted slightly higher on Thursday as futures contract prices on the Tokyo Commodity Exchange surged to an 18-month high. Traders said, however, that thin dealings capped gains in the physical rubber market. European and
Published 28 Dec, 2007 12:00am
Musharraf appeals for peace: three-day mourning declared

Musharraf appeals for peace: three-day mourning declared

President Pervez Musharraf has declared three days national mourning to 'weep for' assassinated former premier Benazir but does not mention whether the tragedy will also force the postponement of early next month's parliamentary polls.
Published 28 Dec, 2007 12:00am
Dalian soyaoil extends gains to fresh high

Dalian soyaoil extends gains to fresh high

Dalian soyabean and soyaoil futures touched a record high on Thursday amid tight supplies at home, but the new peak prompted investors to lock in profits in soyaoil. The most-active soyaoil futures contract, May 2008, closed at 10,186 yuan ($1,391) per to
Published 28 Dec, 2007 12:00am
Wall Street down

Wall Street down

US stocks fell on Thursday after weaker-than-expected durable goods data raised concerns about the outlook for the economy and profits. Global political worries also rattled the market with news Benazir Bhutto was killed in an attack after a rally in Rawa
Published 28 Dec, 2007 12:00am
Supply fears send India soya futures to fresh highs

Supply fears send India soya futures to fresh highs

Indian soyaoil futures hit fresh contract highs on Thursday on concerns over global edible oil supplies from South America and Asia, and helped by an increase in domestic demand ahead of a marriage season.
Published 28 Dec, 2007 12:00am
Wall Street down

Wall Street down

US stocks fell on Thursday after weaker-than-expected durable goods data raised concerns about the outlook for the economy and profits. Global political worries also rattled the market with news Benazir Bhutto was killed in an attack after a rally in Rawa
Published 28 Dec, 2007 12:00am
Japan November coffee stocks fall to five-month low

Japan November coffee stocks fall to five-month low

Japanese warehouse coffee stocks fell 5.4 percent to a five-month low of 118,797 tonnes at the end of November from a month, data compiled by the Agriculture Ministry showed on Thursday. November stocks were down 8.8 percent from 130,253 tonnes a year. Th
Published 28 Dec, 2007 12:00am
Wall Street down

Wall Street down

US stocks fell on Thursday after weaker-than-expected durable goods data raised concerns about the outlook for the economy and profits. Global political worries also rattled the market with news Benazir Bhutto was killed in an attack after a rally in Rawa
Published 28 Dec, 2007 12:00am
South Korea importers seek max 275,000 tonnes corn

South Korea importers seek max 275,000 tonnes corn

The Korea Corn Processing Industry Association has issued a tender to buy up to 275,000 tonnes of optional-origin, non-genetically modified corn, traders said on Thursday. The agency is seeking five lots of 52,500-55,000 tonnes each for March and April ar
Published 28 Dec, 2007 12:00am
KSE to remain closed today

KSE to remain closed today

The Karachi Stock Exchange (KSE) will remain closed on Friday due to law and order situation in the city after the tragic assassination of PPP chairperson Benazir Bhutto. This was decided by the management of the KSE on late Thursday night.
Published 28 Dec, 2007 12:00am
Asian light distillate prices gain sharply

Asian light distillate prices gain sharply

Asian light distillate prices rose on Thursday, tracking gains on crude, and naphtha's notional premium rose on expectations of lower exports from India for next month. The benchmark open-spec naphtha contract for first-half February rose $9.00 to $874 a
Published 28 Dec, 2007 12:00am
KSE to remain closed today

KSE to remain closed today

The Karachi Stock Exchange (KSE) will remain closed on Friday due to law and order situation in the city after the tragic assassination of PPP chairperson Benazir Bhutto. This was decided by the management of the KSE on late Thursday night.
Published 28 Dec, 2007 12:00am
Ivory Coast cocoa industry officials restart strike

Ivory Coast cocoa industry officials restart strike

Staff at Ivory Coast's Coffee and Cocoa Bourse (BCC), which controls cocoa exports in the world's top grower, resumed strike action on Thursday, blocking registration of cocoa for shipping, union officials said. "All our members have stoped work today. Ma
Published 28 Dec, 2007 12:00am
KSE to remain closed today

KSE to remain closed today

The Karachi Stock Exchange (KSE) will remain closed on Friday due to law and order situation in the city after the tragic assassination of PPP chairperson Benazir Bhutto. This was decided by the management of the KSE on late Thursday night.
Published 28 Dec, 2007 12:00am
Japan buys US wheat well in advance

Japan buys US wheat well in advance

Record-high world prices of wheat may have driven some importers, such as Egypt, away from the market, but Japan has stepped up its buying to secure adequate supplies, a senior farm ministry official said. "Clearly, the market has entered into a new era i
Published 28 Dec, 2007 12:00am
Markets to remain closed for three days

Markets to remain closed for three days

Traders will keep markets closed for three days to condole the death of former prime Benazir Bhutto, said chairman Alliance of Market associations, Atiq Mir.
Published 28 Dec, 2007 12:00am
Vietnam coffee export soars 57 percent

Vietnam coffee export soars 57 percent

Vietnam estimated on Thursday its coffee export this month would soar 57 percent from last month to 110,000 tonnes, or 1.83 million bags, while growers have nearly finished the harvesting. A General Statistic Office report revised down actual shipment in
Published 28 Dec, 2007 12:00am
Markets to remain closed for three days

Markets to remain closed for three days

Traders will keep markets closed for three days to condole the death of former prime Benazir Bhutto, said chairman Alliance of Market associations, Atiq Mir.
Published 28 Dec, 2007 12:00am
New York arabica coffee futures down

New York arabica coffee futures down

Arabica coffee futures ended sharply lower on Wednesday on speculative fund profit-taking as the market extended its retreat from recent highs following the Christmas holiday break, traders said. The coffee market was shut on Monday and Tuesday for the Ch
Published 28 Dec, 2007 12:00am
Markets to remain closed for three days

Markets to remain closed for three days

Traders will keep markets closed for three days to condole the death of former prime Benazir Bhutto, said chairman Alliance of Market associations, Atiq Mir.
Published 28 Dec, 2007 12:00am
MGE spring wheat settles higher

MGE spring wheat settles higher

Spring wheat futures at the Minneapolis Grain Exchange closed higher on Wednesday, taking cues from a rally in Chicago Board of Trade wheat, corn and soyabeans, traders said. CBOT soyabean futures led the way higher, rising to a 34-year top above $12 per
Published 28 Dec, 2007 12:00am
Zardari arrives

Zardari arrives

Benazir Bhutto's husband Asif Zardari arrived here on late Thursday for her funeral, officials from her party told AFP. "Zardari has arrived from Dubai," said Farhatullah Babar, spokesman for Pakistan People's Party.
Published 28 Dec, 2007 12:00am
New York cocoa futures fall

New York cocoa futures fall

US cocoa futures fell more than 2 percent on Wednesday, as the market extended its pull-back from last week's five-month highs amid ongoing fund liquidation and chart-based selling, brokers said. "The funds are long this market and the fact that there was
Published 28 Dec, 2007 12:00am
Zardari arrives

Zardari arrives

Benazir Bhutto's husband Asif Zardari arrived here on late Thursday for her funeral, officials from her party told AFP. "Zardari has arrived from Dubai," said Farhatullah Babar, spokesman for Pakistan People's Party.
Published 28 Dec, 2007 12:00am
Shanghai copper dips

Shanghai copper dips

Shanghai copper fell nearly 1 percent on Thursday as some investors worried that a move by China to scrap a 2 percent import tax on refined copper will boost imports of the metal and weigh on domestic prices. Shanghai's March copper contract the most acti
Published 28 Dec, 2007 12:00am
Plane with coffin leaves for Sukkur

Plane with coffin leaves for Sukkur

An air force plane with the body of slain opposition leader Benazir Bhutto left Islamabad on Friday for a flight to the city of Sukkur ahead of her funeral, an interior ministry official said. Her husband Asif Zardari, who had arrived from Dubai shortly b
Published 28 Dec, 2007 12:00am
US copper futures up

US copper futures up

US copper futures closed higher on Wednesday with indications of increased Chinese buying underscoring the market's sharp reversal from last week's nine-month lows, analysts said. Thin holiday trading conditions as well as a weaker US dollar were seen aid
Published 28 Dec, 2007 12:00am
Plane with coffin leaves for Sukkur

Plane with coffin leaves for Sukkur

An air force plane with the body of slain opposition leader Benazir Bhutto left Islamabad on Friday for a flight to the city of Sukkur ahead of her funeral, an interior ministry official said. Her husband Asif Zardari, who had arrived from Dubai shortly b
Published 28 Dec, 2007 12:00am
Gold and platinum higher in New York

Gold and platinum higher in New York

Gold ended near a one-month peak in US trade on Wednesday, driven by strong oil prices and a weak dollar, and platinum hit record highs on lingering supply concerns. Trading volumes were thin, however, with UK precious metals markets closed for the post-C
Published 28 Dec, 2007 12:00am
Gold near one-month high

Gold near one-month high

Gold was near a one-month high on Thursday, helped by rising oil prices and the escalating Turkish-Kurdish conflict, while platinum drifted down but kept close to a record high on robust demand and supply concerns.
Published 28 Dec, 2007 12:00am
Tocom rubber off 18-month high

Tocom rubber off 18-month high

Tokyo rubber futures retreated from an almost 18-month high on Thursday as profit-taking kicked in ahead of year-end holidays, but prices remained supported. The benchmark rubber contract on the Tokyo Commodity Exchange for June 2008 delivery fell 0.5 yen
Published 28 Dec, 2007 12:00am
Bank holidays

Bank holidays

State Bank of Pakistan and all offices of SBP Banking Services Corporation will remain closed on Friday, Saturday and Sunday, a SBP spokesman announced here Thursday night.
Published 28 Dec, 2007 12:00am
Oil holds firm below $96

Oil holds firm below $96

Oil held steady just below $96 a barrel on Thursday after a three-day rally, as traders awaited a sixth-weekly decline in US crude inventories and attached a bigger supply-risk premium to Turkish bombing in northern Iraq.
Published 28 Dec, 2007 12:00am
Bank holidays

Bank holidays

State Bank of Pakistan and all offices of SBP Banking Services Corporation will remain closed on Friday, Saturday and Sunday, a SBP spokesman announced here Thursday night.
Published 28 Dec, 2007 12:00am
Manila buys rice

Manila buys rice

The Philippines bought 422,701 tonnes of rice, largely to be sourced from Vietnam, for delivery between January to March, the government said on Thursday. Conrad Ibanez, assistant administrator of the National Food Authority (NFA) told reporters the state
Published 28 Dec, 2007 12:00am
Bank holidays

Bank holidays

State Bank of Pakistan and all offices of SBP Banking Services Corporation will remain closed on Friday, Saturday and Sunday, a SBP spokesman announced here Thursday night.
Published 28 Dec, 2007 12:00am
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