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Print - 2008-01-18
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (January 17, 2008).

Published 18 Jan, 2008 12:00am
Bush sees need for economic 'boost': spokesman

Bush sees need for economic 'boost': spokesman

US President George W. Bush supports calls for an economic stimulus package and will discuss recent worrisome data with leading lawmakers on Thursday, the White House said. "The president does believe that over the short term, to deal with the softening o
Published 18 Jan, 2008 12:00am
Downside risks to EU growth sharpened: EU document

Downside risks to EU growth sharpened: EU document

European Union growth is expected to remain near potential this year and next but high oil and commodity prices have sharpened downside risks, a document to be discussed by EU finance ministers next week said.
Published 18 Jan, 2008 12:00am
Wheat & flour

Wheat & flour

The crisis caused by scarcity and soaring prices of wheat and flour has literally caused a ''belly ache'' for nearly every citizen. The irony that it happened to a wheat surplus country, in a year when the authorities announced a bumper crop and an ''expo
Published 18 Jan, 2008 12:00am
Wheat & flour

Wheat & flour

The crisis caused by scarcity and soaring prices of wheat and flour has literally caused a 'belly ache' for nearly every citizen. The irony that it happened to a wheat surplus country, in a year when the authorities announced a bumper crop and an 'exporta
Published 18 Jan, 2008 12:00am
Wheat & flour

Wheat & flour

The crisis caused by scarcity and soaring prices of wheat and flour has literally caused a 'belly ache' for nearly every citizen. The irony that it happened to a wheat surplus country, in a year when the authorities announced a bumper crop and an 'exporta
Published 18 Jan, 2008 12:00am
Possible removal from GEIS: FTSE defers decision on Pakistan

Possible removal from GEIS: FTSE defers decision on Pakistan

Following some high-level consultations with the Securities and Exchange Commission of Pakistan, FTSE Group (FTSE), the global index provider, has deferred its decision to remove Pakistan from the FTSE Global Equity Index Series (GEIS) from June 2008.
Published 18 Jan, 2008 12:00am
Possible removal from GEIS: FTSE defers decision on Pakistan

Possible removal from GEIS: FTSE defers decision on Pakistan

Following some high-level consultations with the Securities and Exchange Commission of Pakistan, FTSE Group (FTSE), the global index provider, has deferred its decision to remove Pakistan from the FTSE Global Equity Index Series (GEIS) from June 2008.
Published 18 Jan, 2008 12:00am
Possible removal from GEIS: FTSE defers decision on Pakistan

Possible removal from GEIS: FTSE defers decision on Pakistan

Following some high-level consultations with the Securities and Exchange Commission of Pakistan, FTSE Group (FTSE), the global index provider, has deferred its decision to remove Pakistan from the FTSE Global Equity Index Series (GEIS) from June 2008.
Published 18 Jan, 2008 12:00am
Nepra failed to frame rules even after 10 years

Nepra failed to frame rules even after 10 years

The National Electric Power Regulatory Authority (Nepra) has not framed 80 percent of rules even after its decade long existence, informed sources told Business Recorder. The reason behind this was non-professional and politically-backed bureaucrat
Published 18 Jan, 2008 12:00am
Nepra failed to frame rules even after 10 years

Nepra failed to frame rules even after 10 years

The National Electric Power Regulatory Authority (Nepra) has not framed 80 percent of rules even after its decade long existence, informed sources told Business Recorder. The reason behind this was non-professional and politically-backed bureaucrat
Published 18 Jan, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (January 17, 2008).

Published 18 Jan, 2008 12:00am
Nepra failed to frame rules even after 10 years

Nepra failed to frame rules even after 10 years

The National Electric Power Regulatory Authority (Nepra) has not framed 80 percent of rules even after its decade long existence, informed sources told Business Recorder. The reason behind this was non-professional and politically-backed bureaucrat
Published 18 Jan, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (January 17, 2008).
Published 18 Jan, 2008 12:00am
BRIndex30 sheds 169.54 points

BRIndex30 sheds 169.54 points

On Thursday, BRIndex30 opened at 14,960.70. It closed at 14,801.91, recording net negative change of -169.54 points and percentage change of -1.13. BRIndex30 made an intra-day high of 14,974.18 and intra-day low of 14,717.04.
Published 18 Jan, 2008 12:00am
BRIndex30 sheds 169.54 points

BRIndex30 sheds 169.54 points

On Thursday, BRIndex30 opened at 14,960.70. It closed at 14,801.91, recording net negative change of -169.54 points and percentage change of -1.13. BRIndex30 made an intra-day high of 14,974.18 and intra-day low of 14,717.04.
Published 18 Jan, 2008 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 Thursday (January 17, 2008).

Published 18 Jan, 2008 12:00am
Bearish trend continues on KSE

Bearish trend continues on KSE

Bearish trend continued on the Karachi share market on Thursday and the KSE-100 index lost another 172.63 points to close at 13,674.04 points level amidst thin volumes. "Lack of local and foreign investor interest was witnessed due to prevailing uncertain
Published 18 Jan, 2008 12:00am
Bearish trend continues on KSE

Bearish trend continues on KSE

Bearish trend continued on the Karachi share market on Thursday and the KSE-100 index lost another 172.63 points to close at 13,674.04 points level amidst thin volumes. "Lack of local and foreign investor interest was witnessed due to prevailing uncertain
Published 18 Jan, 2008 12:00am
Bearish trend continues on KSE

Bearish trend continues on KSE

Bearish trend continued on the Karachi share market on Thursday and the KSE-100 index lost another 172.63 points to close at 13,674.04 points level amidst thin volumes. "Lack of local and foreign investor interest was witnessed due to prevailing uncertain
Published 18 Jan, 2008 12:00am
Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Tullow Pakistan, a foreign exploration and production company, has put its blocks and other assets up for sale, saying it is no longer possible for the company to continue finding carbon reserves amid deteriorating law and order situation in Pakistan.
Published 18 Jan, 2008 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 Thursday (January 17, 2008).

Published 18 Jan, 2008 12:00am
Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Tullow Pakistan, a foreign exploration and production company, has put its blocks and other assets up for sale, saying it is no longer possible for the company to continue finding carbon reserves amid deteriorating law and order situation in Pakistan.
Published 18 Jan, 2008 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 Thursday (January 17, 2008).

Published 18 Jan, 2008 12:00am
Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Deteriorating law and order: Tullow Pakistan is leaving Pakistan

Tullow Pakistan, a foreign exploration and production company, has put its blocks and other assets up for sale, saying it is no longer possible for the company to continue finding carbon reserves amid deteriorating law and order situation in Pakistan.
Published 18 Jan, 2008 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 Thursday (January 17, 2008).

Published 18 Jan, 2008 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 18 Jan, 2008 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 18 Jan, 2008 12:00am
Testing condition withdrawn from imported wheat

Testing condition withdrawn from imported wheat

The state-run grain trader has withdrawn testing condition from imported wheat at disembarkation port on bidders request in order to ensure maximum participation in the wheat tender, sources told Business Recorder on Thursday.
Published 18 Jan, 2008 12:00am
US Midwest bids for corn and soya firm

US Midwest bids for corn and soya firm

Spot basis bids for corn and soyabeans firmed at river terminals on Wednesday, but held steady at most interior elevators and processors, grain dealers said. Country movement was mostly slow, but a dealer in western Iowa said some farmers booked light sal
Published 18 Jan, 2008 12:00am
Testing condition withdrawn from imported wheat

Testing condition withdrawn from imported wheat

The state-run grain trader has withdrawn testing condition from imported wheat at disembarkation port on bidders request in order to ensure maximum participation in the wheat tender, sources told Business Recorder on Thursday.
Published 18 Jan, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 112,441 tonnes cargo including 94,219 tonnes import, 18,222 tonnes export cargo and 3,115 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 18 Jan, 2008 12:00am
Testing condition withdrawn from imported wheat

Testing condition withdrawn from imported wheat

The state-run grain trader has withdrawn testing condition from imported wheat at disembarkation port on bidders request in order to ensure maximum participation in the wheat tender, sources told Business Recorder on Thursday.
Published 18 Jan, 2008 12:00am
US corn futures lower on setback

US corn futures lower on setback

US corn futures on the Chicago Board of Trade closed lower on Wednesday in a setback from recent rallies to 11-year highs and on mounting concerns about a potential recession, traders said. Traders said steep slides in crude oil and gold also weighed on t
Published 18 Jan, 2008 12:00am
No danger to Pakistan's nuclear assets: US experts

No danger to Pakistan's nuclear assets: US experts

Pakistan's nuclear assets are secure and there is no danger to their safety currently or in the near future, foreign policy experts said at a US Congressional hearing.
Published 18 Jan, 2008 12:00am
FOB Gulf corn and soyabean offers firm

FOB Gulf corn and soyabean offers firm

US FOB Gulf corn and soyabean basis offers were firm on Wednesday, after softening earlier in the week, amid higher CIF barge values, traders said. CIF corn and soyabean values jumped on Wednesday amid rising barge freight rates and lower Chicago Board of
Published 18 Jan, 2008 12:00am
US former congressman indicted in terror funding case

US former congressman indicted in terror funding case

A federal grand jury on Wednesday indicted a former US lawmaker for his links to a charity that sent funds to an Afghanistan-based supporter of al Qaeda through banks in Pakistan.
Published 18 Jan, 2008 12:00am
Til sharply up amid thin trade on grain market

Til sharply up amid thin trade on grain market

Til after maintaining a firm trend for a long time, fluctuated with sharp gain on the grain market on Thursday as most of the commodities held their overnight levels mainly because of balanced demand and supply position, dealers said.
Published 18 Jan, 2008 12:00am
US former congressman indicted in terror funding case

US former congressman indicted in terror funding case

A federal grand jury on Wednesday indicted a former US lawmaker for his links to a charity that sent funds to an Afghanistan-based supporter of al Qaeda through banks in Pakistan.
Published 18 Jan, 2008 12:00am
Call for shift in US policy towards Pakistan

Call for shift in US policy towards Pakistan

The US Congress on Wednesday passed its first 2008 legislation by condemning the murder of ex-premier Benazir Bhutto amid a call for a shift in US policy towards Islamabad.
Published 18 Jan, 2008 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

US Plains hard red winter wheat basis values were holding steady on Thursday, with market players keying strategies to surging futures prices and strong mill demand. New-crop July wheat futures on the Kansas City Board of Trade soared to a new contract hi
Published 18 Jan, 2008 12:00am
US urged to help prevent election rigging

US urged to help prevent election rigging

US policymakers must keep pressure on President Pervez Musharraf to hold fair elections in Pakistan next month or risk deeper chaos in the nuclear-armed country, an important ally in Washington's anti-terror campaign, experts told Congress on Wednesday.
Published 18 Jan, 2008 12:00am
US wheat futures mixed

US wheat futures mixed

US wheat futures closed mixed in volatile trade on Wednesday, with the Minneapolis spring wheat market soaring to an all-time high toward the close on commercial buying and firm cash markets, traders said.
Published 18 Jan, 2008 12:00am
US urged to help prevent election rigging

US urged to help prevent election rigging

US policymakers must keep pressure on President Pervez Musharraf to hold fair elections in Pakistan next month or risk deeper chaos in the nuclear-armed country, an important ally in Washington's anti-terror campaign, experts told Congress on Wednesday.
Published 18 Jan, 2008 12:00am
Oil cake market rates

Oil cake market rates

Dullness prevailed in the forward cottonseed oilcake market on Thursday as leading buyers were on the sidelines, dealers said. The January vaida opened unchanged at Rs 655.00 and closing was seen at the same level with no fluctuation for the day's bottom
Published 18 Jan, 2008 12:00am
SLY team probe enters final stage

SLY team probe enters final stage

The detective team of Scotland Yard (SLY) has been entered final stage after the preliminary investigation into the assassination of Benazir Bhutto. On Thursday the SLY team investigators discussed various aspects of the investigations done so far with th
Published 18 Jan, 2008 12:00am
Volume lower in cautious trading on cotton market

Volume lower in cautious trading on cotton market

Cautious trading was seen on the cotton market on Thursday as mills avoided hectic buying in a bid to halt sharp increase in the prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3200, they said.
Published 18 Jan, 2008 12:00am
SLY team probe enters final stage

SLY team probe enters final stage

The detective team of Scotland Yard (SLY) has been entered final stage after the preliminary investigation into the assassination of Benazir Bhutto. On Thursday the SLY team investigators discussed various aspects of the investigations done so far with th
Published 18 Jan, 2008 12:00am
Slow trading in steady cotton market

Slow trading in steady cotton market

Political uncertainty in the country, approach of Ashura (10th of Moharram) next Sunday and extensive shortages of gas and electric power have put the domestic cotton and textile industry in a predicament. Added to these woes, a relatively short domestic
Published 18 Jan, 2008 12:00am
Slow trading in steady cotton market

Slow trading in steady cotton market

Political uncertainty in the country, approach of Ashura (10th of Moharram) next Sunday and extensive shortages of gas and electric power have put the domestic cotton and textile industry in a predicament. Added to these woes, a relatively short domestic
Published 18 Jan, 2008 12:00am
New York coffee lower

New York coffee lower

Arabica coffee futures trading on ICE on Wednesday slipped on the speculative liquidation that pushed most commodities into negative territory in a correction to Tuesday's rally, dealers said. "The market came off today with more-or-less spec liquidation,
Published 18 Jan, 2008 12:00am
New York cocoa weak on liquidation pressure

New York cocoa weak on liquidation pressure

US cocoa futures settled weak on Wednesday, correcting lower on liquidation and technical pressure after on Monday's fund-driven rally, traders said. "(There's) some trade or industry buying mixed with some arbitrage as New York fell faster than London,"
Published 18 Jan, 2008 12:00am
Al Qaeda calls for fresh attacks on forces

Al Qaeda calls for fresh attacks on forces

Two major al Qaeda operatives in tribal areas near Afghanistan have called upon their followers to intensify holy war against security forces and seize control of the capital Islamabad, media reports said on Thursday.
Published 18 Jan, 2008 12:00am
MGE March spring wheat higher

MGE March spring wheat higher

MGE March spring wheat settled at $11.34-3/4 per bushel on Thursday, up 27 cents, after reaching $11.37-3/4, the highest-ever price for any US wheat futures contract. The contract traded the maximum one-day range of 60 cents, rising the 30-cent daily limi
Published 18 Jan, 2008 12:00am
Cabinet to quiz PIA chairman on losses

Cabinet to quiz PIA chairman on losses

The caretaker cabinet will quiz Pakistan International Airlines (PIA) Chairman Zafar Ahmad Khan on January 22 to know the reasons of huge losses despite the fact that seats were not available on most of the international and domestic flights, informed sou
Published 18 Jan, 2008 12:00am
US copper down

US copper down

US copper futures ended lower on Wednesday as the industrial metal fell under the weight of a stronger US dollar and the steeper losses sustained in the precious metals and energy complexes, analysts said. "I think you can attribute this sell-off today to
Published 18 Jan, 2008 12:00am
Cabinet to quiz PIA chairman on losses

Cabinet to quiz PIA chairman on losses

The caretaker cabinet will quiz Pakistan International Airlines (PIA) Chairman Zafar Ahmad Khan on January 22 to know the reasons of huge losses despite the fact that seats were not available on most of the international and domestic flights, informed sou
Published 18 Jan, 2008 12:00am
US gold sharply lower

US gold sharply lower

US gold futures finished near a one-week low on Wednesday as funds frantically liquidated positions to cover margin calls amid steep losses, triggering a broad sell-off in commodities.
Published 18 Jan, 2008 12:00am
Cabinet to quiz PIA chairman on losses

Cabinet to quiz PIA chairman on losses

The caretaker cabinet will quiz Pakistan International Airlines (PIA) Chairman Zafar Ahmad Khan on January 22 to know the reasons of huge losses despite the fact that seats were not available on most of the international and domestic flights, informed sou
Published 18 Jan, 2008 12:00am
Gold retreats in Asia

Gold retreats in Asia

Gold extended losses from a record high on Thursday, surrendering as much as $8.60 an ounce as the dollar held on to its gains against the euro ahead of a testimony by US Federal Reserve Chairman Ben Bernanke.
Published 18 Jan, 2008 12:00am
Retirement of loans: SBP asks banks not to provide financing

Retirement of loans: SBP asks banks not to provide financing

State Bank of Pakistan has instructed banks not to provide financing for retirement of wheat procurement loans to avoid hoarding of wheat. In this regard SBP on Thursday issued MFD Circular Letter No 01 to the heads of banks.
Published 18 Jan, 2008 12:00am
Malaysian tin

Malaysian tin

Malaysian tin ended flat on Thursday, despite rising London Metal Exchange prices, as buyers were cautious due to market volatility, one dealer said.
Published 18 Jan, 2008 12:00am
Retirement of loans: SBP asks banks not to provide financing

Retirement of loans: SBP asks banks not to provide financing

State Bank of Pakistan has instructed banks not to provide financing for retirement of wheat procurement loans to avoid hoarding of wheat. In this regard SBP on Thursday issued MFD Circular Letter No 01 to the heads of banks.
Published 18 Jan, 2008 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices were quoted lower on Thursday a day after futures contracts tumbled nearly three percent on the Tokyo Commodity Exchange. But trade was active, with several deals done after prices fell, traders said.
Published 18 Jan, 2008 12:00am
Retirement of loans: SBP asks banks not to provide financing

Retirement of loans: SBP asks banks not to provide financing

State Bank of Pakistan has instructed banks not to provide financing for retirement of wheat procurement loans to avoid hoarding of wheat. In this regard SBP on Thursday issued MFD Circular Letter No 01 to the heads of banks.
Published 18 Jan, 2008 12:00am
Oil rises on short-covering

Oil rises on short-covering

Oil rose on Thursday on short- covering after a hefty increase in US crude oil stocks compounded concerns of a slowing economy in the world's top energy consumer and led to losses of more than $3 over the past two days. US light crude for February deliver
Published 18 Jan, 2008 12:00am
Shanghai copper ends steady

Shanghai copper ends steady

Shanghai copper steadied on Thursday after dropping by its daily limit on Wednesday, shrugging off tighter monetary policy in China and instead focusing on gains in London and prospects of a US interest rate cut. The April copper contract, the most active
Published 18 Jan, 2008 12:00am
Indonesian cocoa up

Indonesian cocoa up

Gains in cocoa futures and dwindling supplies lifted prices of Indonesian cocoa beans this week, but trading was thin as buyers awaited fresh supplies from the main harvest in March.
Published 18 Jan, 2008 12:00am
New York sugar finish at one-year top

New York sugar finish at one-year top

Raw sugar futures bucked a sell-off in the commodity complex to settle at a year high and the market is poised to punch higher based on the strength of its performance on Wednesday, brokers said. ICE Futures March electronic sugar contract was 0.22 cent h
Published 18 Jan, 2008 12:00am
10 killed in Peshawar suicide blast

10 killed in Peshawar suicide blast

A teenaged suicide bomber blew himself up in a gathering of mourners at Imam Bargah in congested Mohalla Jhangi at the back of historic Qissa Khwani killing ten mourners and injuring 25 others. Waqar Hussain, Mutawalli (Caretaker) of Imam Bargah, cop Alam
Published 18 Jan, 2008 12:00am
Indian soyoil and sugar rises

Indian soyoil and sugar rises

Indian soyoil futures rose on Thursday, tracking a rebound in rival Malaysian palm oil futures and higher crude oil. At 3:57 pm (1027 GMT), the January contract on the National Commodity and Derivatives Exchange was up 0.85 percent at 586.7 rupees ($14.9)
Published 18 Jan, 2008 12:00am
10 killed in Peshawar suicide blast

10 killed in Peshawar suicide blast

A teenaged suicide bomber blew himself up in a gathering of mourners at Imam Bargah in congested Mohalla Jhangi at the back of historic Qissa Khwani killing ten mourners and injuring 25 others. Waqar Hussain, Mutawalli (Caretaker) of Imam Bargah, cop Alam
Published 18 Jan, 2008 12:00am
US rice futures tumble

US rice futures tumble

US rough rice futures on the Chicago Board of Trade dived on Wednesday amid a broad-based sell-off in commodities, traders said. Rice, along with other commodities, has been on fire, soaring to an all-time high as investors looked for a hedge against infl
Published 18 Jan, 2008 12:00am
Tokyo rubber rebounds

Tokyo rubber rebounds

Tokyo rubber futures rose on Thursday as slight falls in the yen against the dollar and expectations of potential supply concerns prompted short-covering after slipping nearly 3 percent the previous day. The benchmark Tokyo Commodity Exchange rubber contr
Published 18 Jan, 2008 12:00am
Malaysian palm oil futures climb

Malaysian palm oil futures climb

Malaysian crude palm oil futures rose 3 percent on Thursday, rebounding from two straight days of declines after gains in the soyoil market, traders said.
Published 18 Jan, 2008 12:00am
German unions call for Nokia boycott

German unions call for Nokia boycott

The DGB confederation of German trade unions called Thursday for a boycott of Nokia, the world's leading maker of mobile telephones, in response to the planned closure of a western German factory. "Boycott Nokia" was the title of a statement sent from a D
Published 18 Jan, 2008 12:00am