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Print - 2008-01-31
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (January 30, 2008).
Published 31 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 Wednesday (January 30, 2008).

Published 31 Jan, 2008 12:00am
ISE loses 8.04 points

ISE loses 8.04 points

Bulls handed over the floor to the bears at the Islamabad Stock Exchange (ISE) on Wednesday where major players and small investors remained on the sidelines to avoid losses amid decrease in index. ISE-10 Index was minus by 8.04 points from 2,908.36 to 2,
Published 31 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 Wednesday (January 30, 2008).

Published 31 Jan, 2008 12:00am
Sales tax refunds: Karachi LTU criticises Starr working

Sales tax refunds: Karachi LTU criticises Starr working

The Large Taxpayer Unit, Karachi has expressed serious concern over the slow processing of sales tax refund claims filed by leading corporate entities due to verification by outdated version of Sales Tax Automated Refund Repository (Starr) computer system
Published 31 Jan, 2008 12:00am
Sales tax refunds: Karachi LTU criticises Starr working

Sales tax refunds: Karachi LTU criticises Starr working

The Large Taxpayer Unit, Karachi has expressed serious concern over the slow processing of sales tax refund claims filed by leading corporate entities due to verification by outdated version of Sales Tax Automated Refund Repository (Starr) computer system
Published 31 Jan, 2008 12:00am
Sales tax refunds: Karachi LTU criticises Starr working

Sales tax refunds: Karachi LTU criticises Starr working

The Large Taxpayer Unit, Karachi has expressed serious concern over the slow processing of sales tax refund claims filed by leading corporate entities due to verification by outdated version of Sales Tax Automated Refund Repository (Starr) computer system
Published 31 Jan, 2008 12:00am
US foresees 'some' fraud in February 18 polls: Boucher

US foresees 'some' fraud in February 18 polls: Boucher

The US State Department said on Tuesday it expected Pakistan's upcoming elections to be tainted and called on all groups, including international monitors, to keep a tight scrutiny of the landmark event.
Published 31 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 Wednesday (January 30, 2008).

Published 31 Jan, 2008 12:00am
LCCI seeks land for goods transporters along highways

LCCI seeks land for goods transporters along highways

The president of Lahore Chamber of Commerce and Industry (LCCI), Mohammad Ali Mian, has urged the government to allocate a piece of land to the goods transporters along side the highways outside of each district, as this would help expedite transportation
Published 31 Jan, 2008 12:00am
LCCI seeks land for goods transporters along highways

LCCI seeks land for goods transporters along highways

The president of Lahore Chamber of Commerce and Industry (LCCI), Mohammad Ali Mian, has urged the government to allocate a piece of land to the goods transporters along side the highways outside of each district, as this would help expedite transportation
Published 31 Jan, 2008 12:00am
ISE loses 8.04 points

ISE loses 8.04 points

Bulls handed over the floor to the bears at the Islamabad Stock Exchange (ISE) on Wednesday where major players and small investors remained on the sidelines to avoid losses amid decrease in index. ISE-10 Index was minus by 8.04 points from 2,908.36 to 2,
Published 31 Jan, 2008 12:00am
LCCI seeks land for goods transporters along highways

LCCI seeks land for goods transporters along highways

The president of Lahore Chamber of Commerce and Industry (LCCI), Mohammad Ali Mian, has urged the government to allocate a piece of land to the goods transporters along side the highways outside of each district, as this would help expedite transportation
Published 31 Jan, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (January 30, 2008).

Published 31 Jan, 2008 12:00am
Chashma power station starts functioning today

Chashma power station starts functioning today

Work on the restoration of Chashma hydropower station is nearing completion, and the station will start generating electricity by Thursday evening. The lower floor of the Chashma hydropower station got flooded due to some technical problem in Unit No 3, w
Published 31 Jan, 2008 12:00am
Chashma power station starts functioning today

Chashma power station starts functioning today

Work on the restoration of Chashma hydropower station is nearing completion, and the station will start generating electricity by Thursday evening. The lower floor of the Chashma hydropower station got flooded due to some technical problem in Unit No 3, w
Published 31 Jan, 2008 12:00am
Chashma power station starts functioning today

Chashma power station starts functioning today

Work on the restoration of Chashma hydropower station is nearing completion, and the station will start generating electricity by Thursday evening. The lower floor of the Chashma hydropower station got flooded due to some technical problem in Unit No 3, w
Published 31 Jan, 2008 12:00am
Blast kills three suspected militants

Blast kills three suspected militants

Three suspected militants were killed on early Wednesday in an explosion while they were likely making bombs here, police said. The blast occurred in a house where the three men were probably handling explosives, senior police official Muhammad Tahir Khan
Published 31 Jan, 2008 12:00am
FOB Gulf soyabean export premiums hold steady

FOB Gulf soyabean export premiums hold steady

US FOB Gulf soyabean export premiums held steady on Tuesday supported by continued sales to China, while corn basis offers were unchanged amid routine export demand, traders said. "There continues to be good export business," said a soyabean trader. "Chin
Published 31 Jan, 2008 12:00am
Improved business seen on cotton market

Improved business seen on cotton market

Improved business was seen on the cotton market on Wednesday buyers were active to cover the forward needs, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3200, they said. In the ready trade, most of the business
Published 31 Jan, 2008 12:00am
Oil cake market rates

Oil cake market rates

Little business was seen on the forward cottonseed oilcake market on Wednesday as a few traders made some purchasing, dealers said. The January vaida opened with rupee one loss at Rs 692.00. Later, it picked up the same amount at Rs 693.00. During the day
Published 31 Jan, 2008 12:00am
US wheat futures down

US wheat futures down

US wheat futures closed mostly lower on Tuesday with the bellwether Chicago market pulling back from a six-week high, but Minneapolis spring wheat futures soared to a new top above $13 per bushel.
Published 31 Jan, 2008 12:00am
Drought to hit Brazil's top cane producing area

Drought to hit Brazil's top cane producing area

Dry weather in Sao Paulo state during most of the second half of 2007 should cut yields of cane to be harvested in April and May in Brazil's largest producing area, Ribeirao Preto, a research institute said on Wednesday.
Published 31 Jan, 2008 12:00am
FFC works out system of lifting wheat quota by mills

FFC works out system of lifting wheat quota by mills

The Federal Food Committee (FFC) has decided to adopt a mechanism to ensure lifting of wheat quota by flour mills in a proper way, and those mills which violate the policy must be taken to task while all the four provinces have been asked to take strict a
Published 31 Jan, 2008 12:00am
South African maize deliveries edge higher

South African maize deliveries edge higher

South African farmers delivered 15,000 tonnes of maize to silos last week, raising total deliveries so far to 6.077 million from 6.062 million, data showed on Wednesday. The deliveries included 10,000 tonnes of white maize and 5,000 tonnes of yellow, the
Published 31 Jan, 2008 12:00am
FFC works out system of lifting wheat quota by mills

FFC works out system of lifting wheat quota by mills

The Federal Food Committee (FFC) has decided to adopt a mechanism to ensure lifting of wheat quota by flour mills in a proper way, and those mills which violate the policy must be taken to task while all the four provinces have been asked to take strict a
Published 31 Jan, 2008 12:00am
US Midwest corn and soya bids rise

US Midwest corn and soya bids rise

Spot basis bids for soyabeans and corn firmed at processors and elevators around the US Midwest on Tuesday amid slow selling by farmers, grain dealers said. Cash bids for soyabeans were particularly strong in Iowa, rising by as much as 10 cents per bushel
Published 31 Jan, 2008 12:00am
FFC works out system of lifting wheat quota by mills

FFC works out system of lifting wheat quota by mills

The Federal Food Committee (FFC) has decided to adopt a mechanism to ensure lifting of wheat quota by flour mills in a proper way, and those mills which violate the policy must be taken to task while all the four provinces have been asked to take strict a
Published 31 Jan, 2008 12:00am
Zimbabwe's gold output falls

Zimbabwe's gold output falls

Zimbabwe's gold output fell by more than a third in 2007 as mines suffered from galloping inflation and power cuts, data from the country's chamber of mines showed on Wednesday. The Chamber of Mines said gold output had declined from 11,000 kg in 2006 to
Published 31 Jan, 2008 12:00am
Six steel products' prices raised again: third increase in one month

Six steel products' prices raised again: third increase in one month

Pakistan Steel Mills on Wednesday announced another raise - third in a row in a month - in the price of some six steel products by upto Rs 2,500 per tonne. Pakistan Steel has raised the prices of billets, cold rolled, hot rolled, copal plate, slab and gal
Published 31 Jan, 2008 12:00am
Clarification

Clarification

Apropos a news item carried by Business Recorder on Wednesday, the Trading Corporation of Pakistan has clarified: "The news article is not based on facts as such it is clarified that necessary laboratory tests are conducted from time to time.
Published 31 Jan, 2008 12:00am
Six steel products' prices raised again: third increase in one month

Six steel products' prices raised again: third increase in one month

Pakistan Steel Mills on Wednesday announced another raise - third in a row in a month - in the price of some six steel products by upto Rs 2,500 per tonne. Pakistan Steel has raised the prices of billets, cold rolled, hot rolled, copal plate, slab and gal
Published 31 Jan, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 142,932 tonnes cargo including 98,317 tonnes import, 44,615 tonnes export cargo and 3,020 containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 31 Jan, 2008 12:00am
Six steel products'' prices raised again: third increase in one month

Six steel products'' prices raised again: third increase in one month

Pakistan Steel Mills on Wednesday announced another raise - third in a row in a month - in the price of some six steel products by upto Rs 2,500 per tonne. Pakistan Steel has raised the prices of billets, cold rolled, hot rolled, copal plate, slab and gal
Published 31 Jan, 2008 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 31 Jan, 2008 12:00am
KSE-100 index down 18.89 points

KSE-100 index down 18.89 points

The Karachi share market on Wednesday opened on a positive note and the KSE-100 index hit 14,088.24 points intra-day high on the back of fresh buying, mainly in banking, fertiliser and E&P stocks.
Published 31 Jan, 2008 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 31 Jan, 2008 12:00am
KSE-100 index down 18.89 points

KSE-100 index down 18.89 points

The Karachi share market on Wednesday opened on a positive note and the KSE-100 index hit 14,088.24 points intra-day high on the back of fresh buying, mainly in banking, fertiliser and E&P stocks.
Published 31 Jan, 2008 12:00am
KSE-100 index down 18.89 points

KSE-100 index down 18.89 points

The Karachi share market on Wednesday opened on a positive note and the KSE-100 index hit 14,088.24 points intra-day high on the back of fresh buying, mainly in banking, fertiliser and E&P stocks.
Published 31 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 31 Jan, 2008 12:00am
BRIndex30 gains 11.6 points

BRIndex30 gains 11.6 points

On Wednesday, BRIndex30 opened in the green zone at 15,245.78 and remained there for whole of the trading time. It closed at 15,217.79 with a net positive change of 11.6 points and percentage change of 0.08.
Published 31 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 31 Jan, 2008 12:00am
BRIndex30 gains 11.6 points

BRIndex30 gains 11.6 points

On Wednesday, BRIndex30 opened in the green zone at 15,245.78 and remained there for whole of the trading time. It closed at 15,217.79 with a net positive change of 11.6 points and percentage change of 0.08.
Published 31 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 Wednesday (January 30, 2008).

Published 31 Jan, 2008 12:00am
US stocks rise on expected rate cut

US stocks rise on expected rate cut

US stocks rose on Tuesday as expectations the Federal Reserve will slash interest rates for the second time in a week boosted banks, insurers and home builders. Investors snapped up shares of J.P. Morgan Chase and Wells Fargo on a bet lower interest rates
Published 31 Jan, 2008 12:00am
Iraqis mock US soldiers and themselves on YouTube

Iraqis mock US soldiers and themselves on YouTube

US soldiers are lampooned, policemen are shown as buffoons and cleric Moqtada al-Sadr is irreverently cheered by penguins... Iraqis are turning to YouTube to express their dark-edged humour. The main butt of send-ups posted by Iraqis on the popular Intern
Published 31 Jan, 2008 12:00am
'Unreasonable demand'

'Unreasonable demand'

It is just not comprehensible why some leaders are demanding of President Pervez Musharraf to resign his office which he is to hold for five years.
Published 31 Jan, 2008 12:00am
Share registrars

Share registrars

I am a shareholder of a listed company and many shareholders like me are grateful to SECP for enacting and making provision in company ordinance 1984 for every listed company to appoint Share Registrar under section 204/A (B) of the ordinance.
Published 31 Jan, 2008 12:00am
Severe cold affecting farm produce, fodder

Severe cold affecting farm produce, fodder

Severe cold and frost has affected horticulture and farm produce, especially fodder, as well as poultry and livestock in the area. The growth of flower and vegetables has been almost stopped by the frost, while fodder plants especially 'barseen' has been
Published 31 Jan, 2008 12:00am
TDAP to participate in 'Rebuild Iraq' exhibition

TDAP to participate in 'Rebuild Iraq' exhibition

Trade Development Authority of Pakistan (TDAP) will organise participation of Pakistani delegation in the 5th "Project Rebuild Iraq" exhibition in Amman in first week of May, 2008.
Published 31 Jan, 2008 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

New York gold futures dropped early on Wednesday, failing to recoup losses as a government report showed sharply weaker-than-expected US growth and bullion investors took profits ahead of the Fed's rate decision.
Published 31 Jan, 2008 12:00am
US MIDDAY: copper declines

US MIDDAY: copper declines

US copper futures were soft in early trade on Wednesday, consolidating Tuesday's sharp rally, after a report of weaker-than-expected economic growth prompted some players to cash in on the market's recent bout of strength, an975.
Published 31 Jan, 2008 12:00am
US MIDDAY: soyabeans down

US MIDDAY: soyabeans down

US soyabean futures on the Chicago Board of Trade were lower at midmorning Wednesday on profit-taking, with the weakness in the Minneapolis spot wheat contract adding to the bearish tone, traders said.
Published 31 Jan, 2008 12:00am
US MIDDAY: corn eases

US MIDDAY: corn eases

US corn futures were lower on Wednesday amid spillover pressure from a profit-taking drop in wheat futures, traders said. At 10:10 am CST (1610 GMT), Chicago Board of Trade corn was down 1/2 to 4-3/4 cents per bushel, with March down 3-1/2 at $4.97-1/2 pe
Published 31 Jan, 2008 12:00am
US MIDDAY: wheat slips

US MIDDAY: wheat slips

US wheat futures were mostly lower at midday on Wednesday on profit-taking after recent strong rallies and expectations of more wheat entering the export market, traders said.
Published 31 Jan, 2008 12:00am
US MIDDAY: sugar rises

US MIDDAY: sugar rises

Raw sugar futures were firmer early Wednesday on modest fund buying, but sales by small speculators knocked the market from its highs for the session, brokers said. The ICE Futures electronic March sugar contract added 0.03 cent to 12.23 cents per lb at 9
Published 31 Jan, 2008 12:00am
US MIDDAY: cocoa and coffee climb

US MIDDAY: cocoa and coffee climb

US cocoa futures rose to a five-year high early Wednesday as funds continued to add to their long positions, while arabica coffee futures moved quietly higher, traders said.
Published 31 Jan, 2008 12:00am
Gold, platinum off record highs

Gold, platinum off record highs

Gold and platinum slipped on Wednesday in nervous trade as investors took profits ahead of a decision by the US Federal Reserve on interest rates. Spot gold fell to $921.65/922.35 by 1613 GMT from $928.60/929.30 an ounce in New York on Tuesday, when it ra
Published 31 Jan, 2008 12:00am
Copper plummets

Copper plummets

Copper prices slipped more than 2 percent on Wednesday as investors took profits ahead of a decision by the US Federal Reserve on interest rates and its comments on the outlook for the world's biggest economy.
Published 31 Jan, 2008 12:00am
Brazil cocoa arrivals down 4.5 percent

Brazil cocoa arrivals down 4.5 percent

Brazilian 2007/08 (May/April) cocoa arrivals from Bahia and other states totalled 3.03 million 60-kg bags by January 27, down 4.5 percent from 3.17 million bags a year ago, Bahia Commercial Association said on Wednesday.
Published 31 Jan, 2008 12:00am
New York cotton futures higher

New York cotton futures higher

Cotton futures finished firmer Wednesday on buying by small speculators as most key players seem to be sidelined waiting for further leads on its next move into next week, brokers said.
Published 31 Jan, 2008 12:00am
Cosan sees rise in Brazil sugar cane output

Cosan sees rise in Brazil sugar cane output

Centre/south Brazil's sugar cane output is expected to rise to a record 475 million tonnes in 2008/09, from 425 million in 2007/08, Carlos Murilo Barros de Mello, commercial director of sugar and ethanol group Cosan.
Published 31 Jan, 2008 12:00am
Oil rises on Fed interest rate cut

Oil rises on Fed interest rate cut

Oil rose past $92 a barrel on Wednesday after the US Federal Reserve cut interest rates to stimulate the economy of the world's top energy consumer. US crude settled up 69 cents at $92.33 a barrel, rising on the Fed decision to reduce interest rates by a
Published 31 Jan, 2008 12:00am
London coffee and cocoa soar to new peaks

London coffee and cocoa soar to new peaks

Robusta coffee and cocoa futures soared to multi-year highs on Wednesday with the markets' remorseless advance driven by investment funds, dealers said. "There is a new fund popping up every day and they are coming into the soft commodities which are chea
Published 31 Jan, 2008 12:00am
Syria, Egypt strike wheat and rice deal

Syria, Egypt strike wheat and rice deal

Syria has agreed to export 176,000 tonnes of wheat to Egypt in exchange for 102,000 tonnes of white rice, the head of the government's purchasing division said on Wednesday.
Published 31 Jan, 2008 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's FTSE 100 index fell 0.8 percent on Wednesday, with banks and oil shares leading the way as US economic growth came in weaker than expected before the US Federal Reserve's interest rate decision later in the day.
Published 31 Jan, 2008 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 1.0 percent higher Wednesday as investors chased bargains, encouraged by the upturn on Wall Street and anticipation of another interest rate cut in the US, dealers said.
Published 31 Jan, 2008 12:00am
Philippine bonds tighten

Philippine bonds tighten

Re-issued bonds from Manila came off highs on Wednesday in a broadly steady Asian market with edgy investors worried about bond insurer downgrades that could trigger massive bond losses and raise consumer borrowing costs.
Published 31 Jan, 2008 12:00am
Philippine bonds tighten

Philippine bonds tighten

Re-issued bonds from Manila came off highs on Wednesday in a broadly steady Asian market with edgy investors worried about bond insurer downgrades that could trigger massive bond losses and raise consumer borrowing costs.
Published 31 Jan, 2008 12:00am
Chinese stocks mixed

Chinese stocks mixed

Chinese stocks were mixed on Wednesday as turnover remained thin and banking shares slid on concern about increasing equity supply, rising inflation and monetary tightening. The benchmark Shanghai Composite Index fell 0.90 percent to close at 4,417.849 po
Published 31 Jan, 2008 12:00am
US Stocks: Wednesday midday trade

US Stocks: Wednesday midday trade

US stocks fell on Wednesday as investors feared that any boost to the economy from an expected Federal Reserve rate cut later in the day would be short-lived as the central bank may soon have to reverse course to respond to signs of rising inflation.
Published 31 Jan, 2008 12:00am
Credit spreads widen

Credit spreads widen

European credit spreads widened slightly on Wednesday ahead of an expected US rate cut as concerns grew about the economic outlook, banks' earnings and their exposure to US bond insurer losses.
Published 31 Jan, 2008 12:00am
Credit spreads widen

Credit spreads widen

European credit spreads widened slightly on Wednesday ahead of an expected US rate cut as concerns grew about the economic outlook, banks' earnings and their exposure to US bond insurer losses.
Published 31 Jan, 2008 12:00am
Indian rupee eases

Indian rupee eases

The Indian rupee was caught in a narrow band on Wednesday as traders geared up for outflows relating to a recent share offering, while investors stayed on the sidelines ahead of a key US rate decision.
Published 31 Jan, 2008 12:00am
Dollar at two-week low in London

Dollar at two-week low in London

The dollar slipped to two-week lows against a basket of major currencies on Wednesday as investors awaited the US interest rate decision later in the day, which will likely be another recession-fighting cut.
Published 31 Jan, 2008 12:00am
Sterling down

Sterling down

Sterling edged lower versus the dollar on Wednesday but remained close to the year's high before a decision on US interest rates from the Federal Reserve later in the day. The pound earlier touched a four-week peak against the dollar but retreated after U
Published 31 Jan, 2008 12:00am
Egypt and Iran hold first high-level meeting in decades

Egypt and Iran hold first high-level meeting in decades

Egyptian President Hosni Mubarak held talks with Iran's parliament speaker Gholam Ali Hadad Adel on Wednesday, the first such high-level meeting since the two nations froze ties almost 30 years ago.
Published 31 Jan, 2008 12:00am
Solana calls for external nuclear fuel supply to Iran

Solana calls for external nuclear fuel supply to Iran

An international "fuel bank" should be set up to provide countries like Iran with nuclear fuel for civilian purposes so they don't have to enrich uranium themselves, the EU's Javier Solana said Wednesday.
Published 31 Jan, 2008 12:00am
Israeli high court OKs fuel reductions to Gaza

Israeli high court OKs fuel reductions to Gaza

Israel's high court on Wednesday backed the Israeli government's decision to reduce fuel supplies to the Hamas-controlled Gaza Strip. Human rights groups had petitioned the court seeking to block the fuel reductions, arguing they risked creating a humanit
Published 31 Jan, 2008 12:00am
Four Afghans beheaded

Four Afghans beheaded

Taliban militants beheaded Wednesday four Afghan roadworkers abducted a week ago while a series of rebel bombings killed three civilians, authorities said. The militants who abducted the four men in the mountainous and remote north-eastern province of Nur
Published 31 Jan, 2008 12:00am