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Print - 2008-03-13
US working with Pakistan to deal with extremism: Rice

US working with Pakistan to deal with extremism: Rice

Secretary of State Condoleezza Rice on Wednesday said the United States has been in consistent contact with Pakistan on dealing with violent extremism along its border with Afghanistan as she acknowledged complexity of the challenge on the rugged border.
Published 13 Mar, 2008 12:00am
Experts fear deadly wheat fungus

Experts fear deadly wheat fungus

A wheat-killing fungus has spread from Africa to Iran and may already be in Pakistan, which depends crucially on wheat to feed its population, New Scientist magazine says. The killer pathogen, known as Ug99, emerged in Uganda in 1999, spread to Kenya in 2
Published 13 Mar, 2008 12:00am
US gold higher

US gold higher

US gold futures finished higher on Tuesday in spite of a higher dollar after global central banks announced plans to add liquidity to financial markets, which dented bullion's appeal as a safe-haven investment amid economic uncertainties.
Published 13 Mar, 2008 12:00am
Experts fear deadly wheat fungus

Experts fear deadly wheat fungus

A wheat-killing fungus has spread from Africa to Iran and may already be in Pakistan, which depends crucially on wheat to feed its population, New Scientist magazine says. The killer pathogen, known as Ug99, emerged in Uganda in 1999, spread to Kenya in 2
Published 13 Mar, 2008 12:00am
US copper lower

US copper lower

US copper futures reversed gains to close near their session lows on Tuesday as prices kept back-pedalling from last week's rise above $4.00 a lb and analysts were on the fence about the market's direction. Copper for May delivery ended down 0.95 cent to
Published 13 Mar, 2008 12:00am
Experts fear deadly wheat fungus

Experts fear deadly wheat fungus

A wheat-killing fungus has spread from Africa to Iran and may already be in Pakistan, which depends crucially on wheat to feed its population, New Scientist magazine says. The killer pathogen, known as Ug99, emerged in Uganda in 1999, spread to Kenya in 2
Published 13 Mar, 2008 12:00am
Copper steady

Copper steady

Copper prices in Shanghai and London were steady on Wednesday as investors weighed the threat of a US slowdown against the risk of forced Chinese buying of refined metal and continued fund appetite for commodities. The May copper contract, the most active
Published 13 Mar, 2008 12:00am
Zardari acquitted in SGS Cotecna case

Zardari acquitted in SGS Cotecna case

The Accountability Court Wednesday acquitted Asif Ali Zardari, co-chairman of Pakistan People's Party (PPP) and other two co-accused of the SGS Cotecna case under National Reconciliatory Ordinance (NRC) while the decision on the application of acquittal i
Published 13 Mar, 2008 12:00am
CBOT and MGE wheat limits to expand

CBOT and MGE wheat limits to expand

The daily trading limit for wheat futures on the Chicago Board of Trade and the Kansas City Board of Trade will expand to 90 cents for Wednesday, while the limit at the Minneapolis Grain Exchange widens to $1.35, the exchanges said on Tuesday.
Published 13 Mar, 2008 12:00am
Zardari acquitted in SGS Cotecna case

Zardari acquitted in SGS Cotecna case

The Accountability Court Wednesday acquitted Asif Ali Zardari, co-chairman of Pakistan People's Party (PPP) and other two co-accused of the SGS Cotecna case under National Reconciliatory Ordinance (NRC) while the decision on the application of acquittal i
Published 13 Mar, 2008 12:00am
New York cocoa firmer

New York cocoa firmer

US cocoa futures settled firmer on Tuesday as fund buying returned to the market, buoying prices within sight of a recent double-top that marked a 28-year high on a continuation chart. "The volume's relatively light but its funds coming back in," one coco
Published 13 Mar, 2008 12:00am
New York coffee settles up

New York coffee settles up

Arabica coffee futures settled firmer on Tuesday on short-covering and fund buying following last week's steep sell-off that pulled prices far below a recent 10-year high, traders said. "I think it is pure speculative short-covering," one trader said. Oth
Published 13 Mar, 2008 12:00am
Kenyan coffee prices mixed

Kenyan coffee prices mixed

Kenyan coffee prices were mixed, with top grades firming and others largely easing in line with prices on the New York market, traders said on Wednesday. The Nairobi Coffee Exchange (NCE) said a total of 26,474 60-kg bags were offered at this week's aucti
Published 13 Mar, 2008 12:00am
Prices remain range bound, low volume on cotton market

Prices remain range bound, low volume on cotton market

Steadier trend was seen on the cotton market on Wednesday as ginners did not lower the asking prices in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3350, they said.
Published 13 Mar, 2008 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseed oilcake market on Wednesday amid expectations for improvement in the supply position, dealers said. The March vaida did not show any change at Rs 695.00 and market settled at the same level without showing
Published 13 Mar, 2008 12:00am
US wheat futures soar

US wheat futures soar

US wheat futures soared on Tuesday after the US Department of Agriculture lowered its estimate of domestic wheat inventories below trade expectations, traders said. Several contracts at the exchanges in Chicago, Kansas City and Minneapolis rose their dail
Published 13 Mar, 2008 12:00am
US Midwest corn and soyabeans steady

US Midwest corn and soyabeans steady

Spot basis bids for corn and soyabeans held steady at interior locations around the US Midwest but fell along rivers, grain dealers said. Rising shipping costs left river dealers with less money to offer farmers for their corn and soyabeans. Slowing expor
Published 13 Mar, 2008 12:00am
US corn futures up as wheat market soars

US corn futures up as wheat market soars

US corn futures ended higher on Tuesday following soaring wheat markets, higher soy and trailing crude oil which is trading at record highs, traders said. "It's volatile but everything keeps coming back, including crude oil," a trader said.
Published 13 Mar, 2008 12:00am
Irri-white sharply up on grain market

Irri-white sharply up on grain market

Modest trading was seen on the grain market on Wednesday due to upward trend in the prices, dealers said. On the rice sector, Irri-white low type gained Rs 750 to Rs 2750 and best quality was higher by Rs 500 to Rs 2800. Irri-6 Sindh gained Rs 100 to Rs 2
Published 13 Mar, 2008 12:00am
Duty relief on TV parts

Duty relief on TV parts

The Federal Board of Revenue (FBR) has waived the customs duty on import of Plasma Display Panel (PDP) and Liquid Crystal Display Panel (LCD) in complete knock down (CKD) condition for a period of about one year.
Published 13 Mar, 2008 12:00am
US Plains HRW wheat bids holding steady

US Plains HRW wheat bids holding steady

US Plains hard red winter wheat basis values were holding steady on Wednesday and the market was described as mostly quiet. Merchants continued to be cautious amid volatile futures prices, while mills had most short-term needs met though HRW wheat remaine
Published 13 Mar, 2008 12:00am
Duty relief on TV parts

Duty relief on TV parts

The Federal Board of Revenue (FBR) has waived the customs duty on import of Plasma Display Panel (PDP) and Liquid Crystal Display Panel (LCD) in complete knock down (CKD) condition for a period of about one year.
Published 13 Mar, 2008 12:00am
Canadian canola futures rebound

Canadian canola futures rebound

Canadian canola futures rebounded from recent steep losses on Tuesday, surging their daily trading limit as allied US soya markets saw early strength and on exporter and crusher buying, traders said. "Yesterday, nobody wanted to buy when it was limit down
Published 13 Mar, 2008 12:00am
Duty relief on TV parts

Duty relief on TV parts

The Federal Board of Revenue (FBR) has waived the customs duty on import of Plasma Display Panel (PDP) and Liquid Crystal Display Panel (LCD) in complete knock down (CKD) condition for a period of about one year.
Published 13 Mar, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 135,248 tonnes cargo including 77,283 tonnes import, 57,965 tonnes export cargo and 3,182 containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 13 Mar, 2008 12:00am
Duty relief on TV parts

Duty relief on TV parts

The Federal Board of Revenue (FBR) has waived the customs duty on import of Plasma Display Panel (PDP) and Liquid Crystal Display Panel (LCD) in complete knock down (CKD) condition for a period of about one year.
Published 13 Mar, 2008 12:00am
Manhandling of journalists flayed

Manhandling of journalists flayed

President Karachi Union of Journalists (KUJ) Khursheed Tanvir, general secretary Khurshid Abbasi, president Karachi Press Club (KPC) Najeeb Ahmed and secretary Imtiaz Khan Faran have severely condemned the roughing up of reporters, cameramen and photograp
Published 13 Mar, 2008 12:00am
KSE index gains 227.64 points

KSE index gains 227.64 points

The share market on Wednesday witnessed bullish trend and KSE-100 index rose by 227.64 points reaching the level of 15171 points on the back of institutional buying in the blue scrips and foreign investors' interest in oil sector due to rising internation
Published 13 Mar, 2008 12:00am
KSE index gains 227.64 points

KSE index gains 227.64 points

The share market on Wednesday witnessed bullish trend and KSE-100 index rose by 227.64 points reaching the level of 15171 points on the back of institutional buying in the blue scrips and foreign investors' interest in oil sector due to rising internation
Published 13 Mar, 2008 12:00am
KSE index gains 227.64 points

KSE index gains 227.64 points

The share market on Wednesday witnessed bullish trend and KSE-100 index rose by 227.64 points reaching the level of 15171 points on the back of institutional buying in the blue scrips and foreign investors'' interest in oil sector due to rising internatio
Published 13 Mar, 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 13 Mar, 2008 12:00am
BRIndex30 up 300.06 points

BRIndex30 up 300.06 points

On Wednesday, BRIndex30 opened at 16,523.67, with an upward jump gap of 186.33 points. It closed at 16,637.40. BRIndex30 registered an upward change of 300.06 points and percentage change of 1.84. It experienced intra-day high of 16,655.38 and intra-day l
Published 13 Mar, 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 13 Mar, 2008 12:00am
BRIndex30 up 300.06 points

BRIndex30 up 300.06 points

On Wednesday, BRIndex30 opened at 16,523.67, with an upward jump gap of 186.33 points. It closed at 16,637.40. BRIndex30 registered an upward change of 300.06 points and percentage change of 1.84. It experienced intra-day high of 16,655.38 and intra-day l
Published 13 Mar, 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 (March 12, 2008).

Published 13 Mar, 2008 12:00am
Nepra issues notices to NTDC and KESC

Nepra issues notices to NTDC and KESC

The National Electric Power Regulatory Authority (Nepra) has issued notices to both the NTDC and the KESC to explain the cause of a major power breakdown at Karachi on March 6, 2008. As per details, the metropolitan area of Karachi was plunged into darkne
Published 13 Mar, 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 (March 12, 2008).

Published 13 Mar, 2008 12:00am
Nepra issues notices to NTDC and KESC

Nepra issues notices to NTDC and KESC

The National Electric Power Regulatory Authority (Nepra) has issued notices to both the NTDC and the KESC to explain the cause of a major power breakdown at Karachi on March 6, 2008. As per details, the metropolitan area of Karachi was plunged into darkne
Published 13 Mar, 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 (March 12, 2008).

Published 13 Mar, 2008 12:00am
Nepra issues notices to NTDC and KESC

Nepra issues notices to NTDC and KESC

The National Electric Power Regulatory Authority (Nepra) has issued notices to both the NTDC and the KESC to explain the cause of a major power breakdown at Karachi on March 6, 2008. As per details, the metropolitan area of Karachi was plunged into darkne
Published 13 Mar, 2008 12:00am
The saga of oil

The saga of oil

Oil prices surging past $100 are already flirting with $110,and might soon leave even that level far behind. It is not the fault of the oil producers. The demand/supply equation is not to blame either. The fundamentals are not causing any distortion. That
Published 13 Mar, 2008 12:00am
The saga of oil

The saga of oil

Oil prices surging past $100 are already flirting with $110,and might soon leave even that level far behind. It is not the fault of the oil producers. The demand/supply equation is not to blame either. The fundamentals are not causing any distortion. That
Published 13 Mar, 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 (March 12, 2008).

Published 13 Mar, 2008 12:00am
PSMA wants to sell sugar at Rs 34 per kg

PSMA wants to sell sugar at Rs 34 per kg

Pakistan Sugar Mills Association has sought government help to sell sugar at Rs 34 per kg in retail market although the current price ranges between Rs 27-28 per kg, informed sources told Business Recorder here on Wednesday.
Published 13 Mar, 2008 12:00am
PSMA wants to sell sugar at Rs 34 per kg

PSMA wants to sell sugar at Rs 34 per kg

Pakistan Sugar Mills Association has sought government help to sell sugar at Rs 34 per kg in retail market although the current price ranges between Rs 27-28 per kg, informed sources told Business Recorder here on Wednesday.
Published 13 Mar, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (March 12, 2008).
Published 13 Mar, 2008 12:00am
PSMA wants to sell sugar at Rs 34 per kg

PSMA wants to sell sugar at Rs 34 per kg

Pakistan Sugar Mills Association has sought government help to sell sugar at Rs 34 per kg in retail market although the current price ranges between Rs 27-28 per kg, informed sources told Business Recorder here on Wednesday.
Published 13 Mar, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (March 12, 2008).

Published 13 Mar, 2008 12:00am
LSE records widespread gains

LSE records widespread gains

The share market has recorded widespread gains with focused buying spree in major banks with other prime chips, giving no attention to fresh wave of suicide attacks the city. All heavyweights received fresh buying and helped the LSE-25 index make a net ga
Published 13 Mar, 2008 12:00am
LSE records widespread gains

LSE records widespread gains

The share market has recorded widespread gains with focused buying spree in major banks with other prime chips, giving no attention to fresh wave of suicide attacks the city. All heavyweights received fresh buying and helped the LSE-25 index make a net ga
Published 13 Mar, 2008 12:00am
Bulls dominate ISE proceedings

Bulls dominate ISE proceedings

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) on Wednesday where equities showed healthy signs under the lead of hot favourite amid increase in index. ISE-10 Index showed improvement of 42.35 points from 3,250.70 to 3,293.05 points
Published 13 Mar, 2008 12:00am
Bulls dominate ISE proceedings

Bulls dominate ISE proceedings

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) on Wednesday where equities showed healthy signs under the lead of hot favourite amid increase in index. ISE-10 Index showed improvement of 42.35 points from 3,250.70 to 3,293.05 points
Published 13 Mar, 2008 12:00am
China government to expand state food stocks

China government to expand state food stocks

China will increase the number and volume of products held in state food reserves, as part of efforts to ensure supplies of grains, cooking oil and meat, the Commerce Ministry said on Wednesday.
Published 13 Mar, 2008 12:00am
Austrian Airlines flies back into black in 2007

Austrian Airlines flies back into black in 2007

Austrian Airlines (AUA) said Wednesday it flew back into profit in 2007 thanks to an overhaul of its long-distance business and its strong performance on short and medium-length routes. The Austrian flag carrier said in a statement it booked net profit of
Published 13 Mar, 2008 12:00am
Eurozone industrial output rises

Eurozone industrial output rises

Eurozone industrial output rose much more than expected in January, the European Union's statistical office said on Wednesday, showing growth in the currency area despite global financial woes.
Published 13 Mar, 2008 12:00am
Eurogroup vigilant on strong euro: Juncker

Eurogroup vigilant on strong euro: Juncker

Euro zone finance ministers remain very vigilant on foreign exchange rates, Eurogroup Chairman Jean-Claude Juncker said on Wednesday as the euro surged towards another record high against the dollar.
Published 13 Mar, 2008 12:00am
Textile exporters concerned over worsening law and order

Textile exporters concerned over worsening law and order

The Pakistan Textile Exporters Association (PTEA) has expressed grave concern over the worsening law and order situation, which is causing negative impact of the image of the country in the world and most of the textile buyers are not coming to Pakistan.
Published 13 Mar, 2008 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (March 12, 2008).

Published 13 Mar, 2008 12:00am
ADB pledges $0.6 million grant to develop energy efficiency plan

ADB pledges $0.6 million grant to develop energy efficiency plan

The Asian Development Bank (ADB) is helping Pakistan craft, a comprehensive energy efficiency policy and investment programme to meet the growing energy demands of an expanding economy and population. ADB is also providing a $600,000 grant to fund the pre
Published 13 Mar, 2008 12:00am
Asean offers $13 billion pharma market to Pakistan

Asean offers $13 billion pharma market to Pakistan

Fourteen companies from Pakistan are participating in a three-day conference held in Kuala Lumpur, Malaysia, aiming to boost the Pakistan's access to regional medicine trade opportunities in the market of the Association of South-East Asian Nations (Aseaa
Published 13 Mar, 2008 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Wednesday (March 12, 2008).

Published 13 Mar, 2008 12:00am
Asean offers $13 billion pharma market to Pakistan

Asean offers $13 billion pharma market to Pakistan

Fourteen companies from Pakistan are participating in a three-day conference held in Kuala Lumpur, Malaysia, aiming to boost the Pakistan's access to regional medicine trade opportunities in the market of the Association of South-East Asian Nations (Aseaa
Published 13 Mar, 2008 12:00am
Asean offers $13 billion pharma market to Pakistan

Asean offers $13 billion pharma market to Pakistan

Fourteen companies from Pakistan are participating in a three-day conference held in Kuala Lumpur, Malaysia, aiming to boost the Pakistan''s access to regional medicine trade opportunities in the market of the Association of South-East Asian Nations (Asea
Published 13 Mar, 2008 12:00am
US working with Pakistan to deal with extremism: Rice

US working with Pakistan to deal with extremism: Rice

Secretary of State Condoleezza Rice on Wednesday said the United States has been in consistent contact with Pakistan on dealing with violent extremism along its border with Afghanistan as she acknowledged complexity of the challenge on the rugged border.
Published 13 Mar, 2008 12:00am
FIA damaged building renovation directed

FIA damaged building renovation directed

The Federal Investigation Agency (FIA) has told officials concerned to start renovating the provincial headquarters building in Lahore, which was badly mangled by the suicide bombers' attacks here on Tuesday.
Published 13 Mar, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (March 12, 2008).

Published 13 Mar, 2008 12:00am
Sherry blames previous government for dismal human rights record

Sherry blames previous government for dismal human rights record

Pakistan Peoples Party Information Secretary, Sherry Rehman on Wednesday blamed the unconstitutional acts of the lost regime for political, economic, and judicial turmoil in the country during the year 2007. She was commenting on a report released in the
Published 13 Mar, 2008 12:00am
Nawaz meets Saudi ambassador

Nawaz meets Saudi ambassador

Pakistan Muslim League-Nawaz Quaid and former prime minister Mian Muhammad Nawaz Sharif met Saudi Ambassador Ali Awadh Al-Asseri at the Saudi Embassy here on Wednesday. During the meeting, matters of mutual interest came under discussion, party sources sa
Published 13 Mar, 2008 12:00am
THE RUPEE: dollar rises further

THE RUPEE: dollar rises further

Bearish sentiment was seen on the currency market on Wednesday as the rupee gave up its firmness versus the dollar on both open and interbank market, money experts said. The rupee lost seven paisa against dollar at 62.86 and 62.88 for buying and selling i
Published 13 Mar, 2008 12:00am
Students' rally tear-gassed

Students' rally tear-gassed

The local police on Wednesday used heavy shelling of tear gas and batton charged to disperse a students' rally taken out against the republication of the blasphemous caricatures in the European newspapers.
Published 13 Mar, 2008 12:00am
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