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Print - 2008-04-20
Winds of change sweep century old CBOT grain trade

Winds of change sweep century old CBOT grain trade

Chicago's grain traders know the game they and their forefathers have played is changing for good as they watch more and more trades slip through their hands and go to electronic matching on screens.
Published 20 Apr, 2008 12:00am
Bearish sentiment on Australian wool market

Bearish sentiment on Australian wool market

The Australian wool market finished 1.4 percent lower, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI fell by 19 Aust cents (2.0 percent), ending the week at 938 Aust cents a kg.
Published 20 Apr, 2008 12:00am
US gold softens on dollar rise

US gold softens on dollar rise

Gold futures on the Comex division of the New York Mercantile Exchange ended 3 percent lower in heavy trading on Friday, hurt by a dollar rise, crude oil drop and an upbeat US stock market.
Published 20 Apr, 2008 12:00am
US copper slips

US copper slips

US copper futures at the New York Mercantile Exchange's Comex division ended down but away from 2-1/2-week lows on Friday as a rebound in the energy markets slowed the metal's sell-off, traders and analysts said. Active May copper closed down 2.40 cents a
Published 20 Apr, 2008 12:00am
New York sugar falls

New York sugar falls

Raw sugar futures ended lower on Friday on investment fund profit-taking and losses in other markets, with spillover sales seen pressuring the sweetener into next week, brokers said. "Most of it is profit-taking after all the gains of this week. You also
Published 20 Apr, 2008 12:00am
Japan, China, South Korea eye annual summit

Japan, China, South Korea eye annual summit

Japan, China and South Korea plan to launch a trilateral annual summit in a bid to jointly take the lead over regional disputes, a daily said Saturday. Japanese Prime Minister Yasuo Fukuda will agree on the plan when he separately meets South Korean Presi
Published 20 Apr, 2008 12:00am
Kurd Prime Minister says oil talks with Iraq government 'positive'

Kurd Prime Minister says oil talks with Iraq government 'positive'

The prime minister of Iraq's Kurdistan region said on Saturday he had made good progress with Iraqi government officials on a draft oil law that has been delayed by disputes between Baghdad and the Kurdish north. Iraq has the world's third-largest oil res
Published 20 Apr, 2008 12:00am
Tropical storm hits south China, 38 fishermen rescued

Tropical storm hits south China, 38 fishermen rescued

A severe tropical storm lashed southern China on Saturday bringing gale-force winds, as authorities reported the rescue of 38 fishermen who sheltered in reefs as the typhoon approached, state media said.
Published 20 Apr, 2008 12:00am
Zimbabwe arms ship heads for Angola: Mozambique

Zimbabwe arms ship heads for Angola: Mozambique

A Chinese ship carrying arms to Zimbabwe which was turned away from South Africa is heading to Angola in hopes of docking there, the transport minister of Mozambique said on Saturday. The ship left South African waters on Friday after a court refused to a
Published 20 Apr, 2008 12:00am
East Timor thanks Indonesia for arresting attack suspects

East Timor thanks Indonesia for arresting attack suspects

East Timor's Deputy Prime Minister Jose-Luis Guterres thanked Indonesia Saturday for arresting three soldiers allegedly involved in an assassination attempt on the country's top leaders. "We have to thank the Indonesian government for their contribution t
Published 20 Apr, 2008 12:00am
Nepal's Maoists say king should not be humiliated

Nepal's Maoists say king should not be humiliated

Nepal's unpopular king should be allowed to leave his palace with dignity and live as a common citizen, Maoist party chiefs said after a strong showing in elections expected to lead to the abolition of the monarchy. Maoist chief Prachanda said he would be
Published 20 Apr, 2008 12:00am
Last commander marks 1943 Warsaw ghetto uprising

Last commander marks 1943 Warsaw ghetto uprising

The last commander of the 1943 Warsaw ghetto uprising, Marek Edelman, on Saturday honoured the memory of his comrades who died fighting Nazi Germany in the doomed Jewish stand against the Holocaust.
Published 20 Apr, 2008 12:00am
Afghanistan to probe whether US used depleted uranium

Afghanistan to probe whether US used depleted uranium

The Afghan government plans to investigate whether the United States used depleted uranium during its invasion of Afghanistan in 2001 and if it might be linked to malformed babies born afterwards.
Published 20 Apr, 2008 12:00am
China calls on people to curb nationalism, work for Olympics

China calls on people to curb nationalism, work for Olympics

China's state media have called on the Chinese people to express their patriotism by working for a successful Olympics, in a signal the government wants days of anti-foreign sentiment to stop. "The best form of patriotism is to do your own business well,"
Published 20 Apr, 2008 12:00am
Strong aftershock strikes off East Timor

Strong aftershock strikes off East Timor

A strong aftershock struck off East Timor on Saturday just hours after a 6.4-magnitude quake in the same location, Indonesia's Meteorology and Geophysics Agency said. The 6.2 magnitude aftershock struck at 7:21 pm (1021 GMT) and was centred about 81 kilom
Published 20 Apr, 2008 12:00am
US Midwest soyabean and corn bids steady to firm

US Midwest soyabean and corn bids steady to firm

Spot basis bids for soyabeans and corn were steady to firm on Friday as grain dealers tried to generate a round of farmer selling.Country movement was slow on Friday. Most farmers were focused on getting into the fields to begin planting tasks.
Published 20 Apr, 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 held steady Friday with weather and crop development top of mind with producers and end users alike.Mills continued to work to keep pipelines filled as the new winter wheat crop advanced slowly. The crop is an
Published 20 Apr, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 102,259 tonnes cargo including 47,208 tonnes import, 55,051 tonnes export cargo and 3,923 containers (TEUs) during last 24 hours ending at 0700 hours on Saturday.
Published 20 Apr, 2008 12:00am
US corn futures close lower

US corn futures close lower

US corn futures closed lower on Friday amid a bout of profit-taking and on spillover from a drop in gold as the dollar gained, traders said. Traders said profit-taking after Thursday's rally to a record high in the July 2009 contract hit prices, but slow
Published 20 Apr, 2008 12:00am
US wheat futures plunge five percent

US wheat futures plunge five percent

US wheat futures plunged on Friday, tumbling nearly 5 percent on the Chicago Board of Trade as weak chart signals and a bounce in the US dollar prompted speculative selling, traders said.Diminished concerns about a freeze threat in the US Plains winter wh
Published 20 Apr, 2008 12:00am
Thin business due to high rates on grain market

Thin business due to high rates on grain market

Sluggish trading was seen on the grain market on Saturday as most of the buyers were on the sidelines due to continued rise in the commodity prices, dealers said. On the cereals side, masoor Ethopiya low type gained Rs 200 to Rs 6,000 and better type rose
Published 20 Apr, 2008 12:00am
1,000 bales solo deal struck on dull cotton market

1,000 bales solo deal struck on dull cotton market

Dullness prevailed on the cotton market on Saturday as both mills and ginners were on the sidelines in the absence of motivating factor, brokers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3,300. Phutti prices in both
Published 20 Apr, 2008 12:00am
Oil cake market rates

Oil cake market rates

Higher trend was seen on the forward cottonseed oilcake market on Saturday as most of the buyers were least interested in the fresh deals partly because of bullish trend in the rates, dealers said.
Published 20 Apr, 2008 12:00am
FOB Gulf corn and soya higher

FOB Gulf corn and soya higher

US FOB Gulf corn basis offers were mostly higher on Friday amid rising values in the barge market, while soyabeans were steady-higher, traders said. Traders said May shipment corn traded at 42 cents over the CBOT May in the CIF barge market. It was bid 39
Published 20 Apr, 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 20 Apr, 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 20 Apr, 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 Saturday (April 19, 2008).

Published 20 Apr, 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 Saturday (April 19, 2008).

Published 20 Apr, 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 Saturday (April 19, 2008).

Published 20 Apr, 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 Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday April 21, 2008

Published 20 Apr, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday April 21, 2008

Published 20 Apr, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday April 21, 2008

Published 20 Apr, 2008 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
THE RUPEE: parity breaches barrier of 64 in interbank

THE RUPEE: parity breaches barrier of 64 in interbank

The rupee hit the new lows versus dollar after crossing the barrier of 64 in the interbank market on Saturday amid rush buying of dollars by the importers, money experts said. The market speculators anticipated it following the sharp rise in the dollar de
Published 20 Apr, 2008 12:00am
THE RUPEE: parity breaches barrier of 64 in interbank

THE RUPEE: parity breaches barrier of 64 in interbank

The rupee hit the new lows versus dollar after crossing the barrier of 64 in the interbank market on Saturday amid rush buying of dollars by the importers, money experts said. The market speculators anticipated it following the sharp rise in the dollar de
Published 20 Apr, 2008 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Farm aid, fair trade key to food crisis: UN

Farm aid, fair trade key to food crisis: UN

Increased aid for agriculture and the abolition of rich-nation subsidies are key to finding a long-term solution to rising world food prices, the head of the UN Conference on Trade and Development said on Saturday.
Published 20 Apr, 2008 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (April 19, 2008).

Published 20 Apr, 2008 12:00am
Farm aid, fair trade key to food crisis: UN

Farm aid, fair trade key to food crisis: UN

Increased aid for agriculture and the abolition of rich-nation subsidies are key to finding a long-term solution to rising world food prices, the head of the UN Conference on Trade and Development said on Saturday.
Published 20 Apr, 2008 12:00am
SPI up by 22.71 percent

SPI up by 22.71 percent

The inflation, measured through Sensitive Price Index (SPI) surged by 22.71 percent in the week ended on April 17 over the same period of last year owing to wild increase in the prices of essential commodities.
Published 20 Apr, 2008 12:00am
SPI up by 22.71 percent

SPI up by 22.71 percent

The inflation, measured through Sensitive Price Index (SPI) surged by 22.71 percent in the week ended on April 17 over the same period of last year owing to wild increase in the prices of essential commodities.
Published 20 Apr, 2008 12:00am
GLT units asked to file tax returns: FBR issues new rules

GLT units asked to file tax returns: FBR issues new rules

The Federal Board of Revenue (FBR) has directed every person engaged in processing of un-manufactured tobacco for cigarette making to maintain tax record and file return to help control excise duty evasion in the cigarette industry.
Published 20 Apr, 2008 12:00am
GLT units asked to file tax returns: FBR issues new rules

GLT units asked to file tax returns: FBR issues new rules

The Federal Board of Revenue (FBR) has directed every person engaged in processing of un-manufactured tobacco for cigarette making to maintain tax record and file return to help control excise duty evasion in the cigarette industry.
Published 20 Apr, 2008 12:00am
GLT units asked to file tax returns: FBR issues new rules

GLT units asked to file tax returns: FBR issues new rules

The Federal Board of Revenue (FBR) has directed every person engaged in processing of un-manufactured tobacco for cigarette making to maintain tax record and file return to help control excise duty evasion in the cigarette industry.
Published 20 Apr, 2008 12:00am
All ports, shipping policies to be reviewed: minister

All ports, shipping policies to be reviewed: minister

The Pakistan People's Party (PPP)-led government will review all policies and issues related to the field of ports and shipping. This was stated by Naveed Qamar, Federal Minister for Ports and Shipping, Industries, Production and Privatisation, during his
Published 20 Apr, 2008 12:00am
All ports, shipping policies to be reviewed: minister

All ports, shipping policies to be reviewed: minister

The Pakistan People's Party (PPP)-led government will review all policies and issues related to the field of ports and shipping. This was stated by Naveed Qamar, Federal Minister for Ports and Shipping, Industries, Production and Privatisation, during his
Published 20 Apr, 2008 12:00am
All ports, shipping policies to be reviewed: minister

All ports, shipping policies to be reviewed: minister

The Pakistan People''s Party (PPP)-led government will review all policies and issues related to the field of ports and shipping. This was stated by Naveed Qamar, Federal Minister for Ports and Shipping, Industries, Production and Privatisation, during hi
Published 20 Apr, 2008 12:00am
ECC asks Finance to revisit subsidies

ECC asks Finance to revisit subsidies

The Economic Co-ordination Committee (ECC) of the Cabinet has given key role to the Finance Ministry to revisit subsidies on essential items, sources told Business Recorder here on Saturday. The ECC meeting on April 8 noted that position papers on
Published 20 Apr, 2008 12:00am
ECC asks Finance to revisit subsidies

ECC asks Finance to revisit subsidies

The Economic Co-ordination Committee (ECC) of the Cabinet has given key role to the Finance Ministry to revisit subsidies on essential items, sources told Business Recorder here on Saturday. The ECC meeting on April 8 noted that position papers on
Published 20 Apr, 2008 12:00am
ECC asks Finance to revisit subsidies

ECC asks Finance to revisit subsidies

The Economic Co-ordination Committee (ECC) of the Cabinet has given key role to the Finance Ministry to revisit subsidies on essential items, sources told Business Recorder here on Saturday. The ECC meeting on April 8 noted that position papers on
Published 20 Apr, 2008 12:00am
Pakistan to boost trade ties with Islamic states: Dar

Pakistan to boost trade ties with Islamic states: Dar

Finance Minister Ishaq Dar on Saturday said Pakistan would work with brotherly Islamic countries to increase economic co-operation to promote trade and investment. He said this during separate meetings with ambassadors of Qatar, Jordan, and Muscat, who ca
Published 20 Apr, 2008 12:00am
Pakistan to boost trade ties with Islamic states: Dar

Pakistan to boost trade ties with Islamic states: Dar

Finance Minister Ishaq Dar on Saturday said Pakistan would work with brotherly Islamic countries to increase economic co-operation to promote trade and investment. He said this during separate meetings with ambassadors of Qatar, Jordan, and Muscat, who ca
Published 20 Apr, 2008 12:00am
Pakistan to boost trade ties with Islamic states: Dar

Pakistan to boost trade ties with Islamic states: Dar

Finance Minister Ishaq Dar on Saturday said Pakistan would work with brotherly Islamic countries to increase economic co-operation to promote trade and investment. He said this during separate meetings with ambassadors of Qatar, Jordan, and Muscat, who ca
Published 20 Apr, 2008 12:00am
Zardari hints at becoming Prime Minister

Zardari hints at becoming Prime Minister

Co-chairman Pakistan People's Party Asif Ali Zardari has announced that he will be taking part in the coming by-elections and that he can become a prime minister if need be. In his interview to a British news channel, Zardari said he and his sister Faryal
Published 20 Apr, 2008 12:00am
Zardari hints at becoming Prime Minister

Zardari hints at becoming Prime Minister

Co-chairman Pakistan People's Party Asif Ali Zardari has announced that he will be taking part in the coming by-elections and that he can become a prime minister if need be. In his interview to a British news channel, Zardari said he and his sister Faryal
Published 20 Apr, 2008 12:00am
Afghan forces capture 68 Pakistanis

Afghan forces capture 68 Pakistanis

Afghan troops detained more than 60 Pakistanis in Afghanistan's southern Kandahar province, a press release of the Afghan defence ministry said here on Saturday. "Personnel of Afghanistan National Army (ANA) arrested 68 Pakistanis, all of them unarmed fro
Published 20 Apr, 2008 12:00am
3.5 million bales cotton imported in August-March period

3.5 million bales cotton imported in August-March period

Cotton imports for August-March (2007-08) period amount to 3.5 million bales, which cost Rs 55 billion, while in the corresponding period of last year total imports had come to 1.9 million bales at a cost Rs 27 billion, it is learnt.
Published 20 Apr, 2008 12:00am
3.5 million bales cotton imported in August-March period

3.5 million bales cotton imported in August-March period

Cotton imports for August-March (2007-08) period amount to 3.5 million bales, which cost Rs 55 billion, while in the corresponding period of last year total imports had come to 1.9 million bales at a cost Rs 27 billion, it is learnt.
Published 20 Apr, 2008 12:00am
3.5 million bales cotton imported in August-March period

3.5 million bales cotton imported in August-March period

Cotton imports for August-March (2007-08) period amount to 3.5 million bales, which cost Rs 55 billion, while in the corresponding period of last year total imports had come to 1.9 million bales at a cost Rs 27 billion, it is learnt.
Published 20 Apr, 2008 12:00am
Iran says oil price too low at $115 a barrel

Iran says oil price too low at $115 a barrel

Even at 115 dollars a barrel, oil is priced too low, Iranian President Mahmoud Ahmadinejad said in comments published on Saturday adding that the commodity "should find its real value".
Published 20 Apr, 2008 12:00am
Iran says oil price too low at $115 a barrel

Iran says oil price too low at $115 a barrel

Even at 115 dollars a barrel, oil is priced too low, Iranian President Mahmoud Ahmadinejad said in comments published on Saturday adding that the commodity "should find its real value".
Published 20 Apr, 2008 12:00am
Iran says oil price too low at $115 a barrel

Iran says oil price too low at $115 a barrel

Even at 115 dollars a barrel, oil is priced too low, Iranian President Mahmoud Ahmadinejad said in comments published on Saturday adding that the commodity "should find its real value".
Published 20 Apr, 2008 12:00am
New 2012 deadline set to rid world of chemical weapons

New 2012 deadline set to rid world of chemical weapons

A body set up to rid the world of chemical weapons agreed on Saturday a new global deadline of 2012, after admitting that Albania is the only country to have completely destroyed its stock.
Published 20 Apr, 2008 12:00am
New 2012 deadline set to rid world of chemical weapons

New 2012 deadline set to rid world of chemical weapons

A body set up to rid the world of chemical weapons agreed on Saturday a new global deadline of 2012, after admitting that Albania is the only country to have completely destroyed its stock.
Published 20 Apr, 2008 12:00am
PIA raises fuel surcharge in fares

PIA raises fuel surcharge in fares

Pakistan International Airlines (PIA) has increase the fuel surcharge owing to the soaring prices of the oil in international market, after which the PIA fares have also gone up.
Published 20 Apr, 2008 12:00am
Bank Intesa denies report of role in bid for Alitalia

Bank Intesa denies report of role in bid for Alitalia

Italian bank Intesa Sanpaolo denied a newspaper report on Saturday that it was part of a consortium ready to bid for airline Alitalia. Il Messaggero daily reported that Intesa was the leading bank in a consortium which comprised 40 percent banks, 20 perce
Published 20 Apr, 2008 12:00am
Alliance Data ends $6.76 billion deal with Blackstone

Alliance Data ends $6.76 billion deal with Blackstone

Alliance Data Systems Corp said on Friday it terminated a $6.76 billion sale to Blackstone Group LP affiliates and has sued to win a $170 million business interruption payment. The failed deal is the latest leveraged buyout to buckle amid the global credi
Published 20 Apr, 2008 12:00am
Airbus, EADS stick to plans to sell German factories

Airbus, EADS stick to plans to sell German factories

European aircraft maker Airbus and its parent EADS are sticking to their plans to sell Airbus sites in Nordenham and Varel and an EADS site in Augsburg. "The goal to sell the factories has not changed," an Airbus spokeswoman said on Saturday.
Published 20 Apr, 2008 12:00am
PIA raises fuel surcharge in fares

PIA raises fuel surcharge in fares

Pakistan International Airlines (PIA) has increase the fuel surcharge owing to the soaring prices of the oil in international market, after which the PIA fares have also gone up.
Published 20 Apr, 2008 12:00am
Afghan forces capture 68 Pakistanis

Afghan forces capture 68 Pakistanis

Afghan troops detained more than 60 Pakistanis in Afghanistan's southern Kandahar province, a press release of the Afghan defence ministry said here on Saturday. "Personnel of Afghanistan National Army (ANA) arrested 68 Pakistanis, all of them unarmed fro
Published 20 Apr, 2008 12:00am