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May 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-05-30
Suicide bombers, militia kill 35 in Iraq

Suicide bombers, militia kill 35 in Iraq

A suicide bomber smashed a police base in northern Iraq and another blew up a patrol on Thursday, killing 20 people as a pro-government militia killed 15 suspected al Qaeda fighters, officials said. The surge in violence came as the US military announced
Published 30 May, 2008 12:00am
New Faisal complex auditorium opens today

New Faisal complex auditorium opens today

A new auditorium will open for public use at the Faisal complex of the Islamic University from Friday. The auditorium was awaited ever since the completion of the Faisal mosque, but the construction was abandoned, after initial scaffolding of the building
Published 30 May, 2008 12:00am
Islam fast growing religion in US: Bryan Hunt

Islam fast growing religion in US: Bryan Hunt

US Consulate Principal Officer, Bryan Hunt, has said Islam is the second largest and fast growing religion in the US and "Muslims living in the United States form an integral part of society and bring a rich diversity to American culture." The diplomat ex
Published 30 May, 2008 12:00am
Power-cut duration may be reduced by next week

Power-cut duration may be reduced by next week

The Pakistan Electric Power Supply Company acting managing director has said power generation is at its height level this year since the company's oil-run power plants and independent power producers are producing power.
Published 30 May, 2008 12:00am
Businessmen unhappy with imposition of 35 percent L/C margin

Businessmen unhappy with imposition of 35 percent L/C margin

The business community may face a liquidity crunch because of the imposition of 35 percent margin condition on the letter of credit (L/C) by the State Bank of Pakistan while the condition will further cause price hike of all the import-based products.
Published 30 May, 2008 12:00am
Investors protest against LSE constant fall

Investors protest against LSE constant fall

Dozens of small investors on Thursday demonstrated outside the Lahore Stock Exchange (LSE) against the constant equity falls. The protestors chanted slogans against the LSE management and regulator and the Securities and Exchange Commission of Pakistan (S
Published 30 May, 2008 12:00am
LHC to hear election pleas against Nawaz today

LHC to hear election pleas against Nawaz today

An election tribunal headed by Justice Akram Qureshi of the Lahore High Court has issued notices to PML-N Chief Nawaz Sharif and others for May 30 in an election petition filed by Shahid Orakzai challenging decision of returning officer allowing Nawaz to
Published 30 May, 2008 12:00am
LHC adjourns election plea

LHC adjourns election plea

The Lahore High Court acting as an election tribunal adjourned till May 30 a case following an election petition filed against Provincial Law Minister Rana Sanaullah Khan because his counsel has sought more time to reply. The court issued him notices and
Published 30 May, 2008 12:00am
Hearing of case against minister put off till June 30

Hearing of case against minister put off till June 30

The Lahore High Court (LHC) acting as election tribunal has adjourned till June 30 an election petition case against federal Defence Minister Ahmad Mukhtar of the PPP and other respondents. On an election petition filed by loser from NA-105, Gujrat, PML-Q
Published 30 May, 2008 12:00am
First Pakistani gets honorary citizenship of China

First Pakistani gets honorary citizenship of China

World Handmade Carpet Organisation (WHCO) founding chairman Akhtar Nazir Khan has been given honorary citizenship by city government of Xining City of China. Khan will give details about conferring of honorary citizenship to him by city government of Xini
Published 30 May, 2008 12:00am
Ban imposed on fish netting from June 1

Ban imposed on fish netting from June 1

The Punjab Fisheries Department has banned netting and selling of all kinds of scaled fish between June 1 to August 31, and also set up raiding parties to check any illegal activity in this regard. Fisheries Director General, Dr Muhammad Ayub disclosed th
Published 30 May, 2008 12:00am
Saudi CG meets Speaker National Assembly, Home Minister

Saudi CG meets Speaker National Assembly, Home Minister

The Consul General (CG) of Kingdom of Saudi Arabia (KSA), Dr Hassan Abdul Rasheed called on Speaker National Assembly, Dr Fahmida Mirza at her residence here on Thursday. The Sindh Minister for Home and Forests, Dr Zulfiqar Ali Mirza was also present on t
Published 30 May, 2008 12:00am
Green, black tea prices surge

Green, black tea prices surge

Green and black tea prices have gone up by Rs 50 and Rs 30 per kg respectively due to weakening rupee value against the dollar, imposition of 35 percent L/C margin by the central bank and global food inflation, said tea importers on Thursday. The decline
Published 30 May, 2008 12:00am
KPT clarification

KPT clarification

Apropos a news item carried by Business Recorder on May 27, the Karachi Port Trust (KPT) has clarified that entry passes to workers are issued as per an agreed procedure in line with the stringent security measures adopted by it. All permanent port
Published 30 May, 2008 12:00am
Tributes paid to PPP martyrs

Tributes paid to PPP martyrs

Co-chairman, Pakistan People's Party (PPP), Senator Asif Ali Zardari, has announced that the PPP government will provide residential plots in Islamabad and government jobs to the families of those PPP workers who lost their lives in two terrible terrorist
Published 30 May, 2008 12:00am
Modern aviation techniques: ICAO experts due in June to impart training

Modern aviation techniques: ICAO experts due in June to impart training

Experts from the International Civil Aviation Organisation (ICAO) are due next month here to impart training in modern aviation techniques to students at the Civil Aviation Training Institute (CATI), Hyderabad. However, poor law and order situation and an
Published 30 May, 2008 12:00am
The upcoming budget and the poor

The upcoming budget and the poor

On Thursday morning this paper carried the news that the proposed budget size for fiscal 2008-09 would be 15 percent larger than the current year. There is a promise of tapping two new sources of enhancing the tax base: the real estate and share trading w
Published 30 May, 2008 12:00am
People asked to lodge complaints against police excesses with PSPCC

People asked to lodge complaints against police excesses with PSPCC

Provincial Home and Forests Minister Dr Zulfiqar Ali Mirza has advised the people to lodge their complaints regarding police excesses with the Provincial Public Safety and Police Complaints Commission (PSPCC), which is the authorised legal authority to de
Published 30 May, 2008 12:00am
CACS installed on port gates

CACS installed on port gates

The Karachi Port Trust (KPT) has installed Computerised Access Control System (CACS) on all the gates of Karachi port, which would provide online data entry of port users.
Published 30 May, 2008 12:00am
Government likely to implement minimum wage in budget

Government likely to implement minimum wage in budget

The federal government is likely to implement the increase in the minimum wage of the workers, as announced by Prime Minister Yousuf Raza Gilani in his maiden address to National Assembly after his election, in the federal budget for next financial year o
Published 30 May, 2008 12:00am
Bari Imam Urs: free medical services being provided to devotees

Bari Imam Urs: free medical services being provided to devotees

The Directorate of Health Services has established medical, vaccination and sunstroke centres and provided round-the-clock health services along with free of cost medicines to the devotees, visiting the Bari Imam shrine on Urs.
Published 30 May, 2008 12:00am
Tabani elected vice president of ILO annual conference

Tabani elected vice president of ILO annual conference

President of the Employers' Federation of Pakistan, Ashraf W Tabani has been elected as Vice President of the 97th session of the International Labour Conference (ILC). Taban was elected to the position, representing the ILO's Employers' group on May 28,
Published 30 May, 2008 12:00am
Military rule brings polarisation in polity, says Gilani

Military rule brings polarisation in polity, says Gilani

"The nation had to pay heavy cost of the frequent military forays in politics and the price of this interference is enormous, which is equally paid by all the stakeholders of the state", said Prime Minister Syed Yousuf Raza Gilani here on Thursday.
Published 30 May, 2008 12:00am
Legislation to conserve energy recommended

Legislation to conserve energy recommended

The Ministry of Environment has recommended comprehensive legislation on energy conservation and management to overcome the energy shortfall and smooth running of industry and other businesses. The ministry, in its recently formulated Energy Conservation
Published 30 May, 2008 12:00am
HBL extending liberal loans to textile sector: Zakir Mehmood

HBL extending liberal loans to textile sector: Zakir Mehmood

President Habib Bank Limited (HBL) Zakir Mehmood has said that HBL is one of the major banks extending liberal loans to textile sector and it would continue its efforts to facilitate the sector. He was talking to traders and business community members at
Published 30 May, 2008 12:00am
PPP to revive Placement Bureau soon

PPP to revive Placement Bureau soon

Pakistan Peoples Party would be reviving its Placement Bureau within next couple of days, to take measures for reinstatement of all sacked employees, party co-chairman Asif Ali Zardari told a delegation of former Sui Southern Gas Company (SSGC) employees.
Published 30 May, 2008 12:00am
Recommendations for NWFP budget reviewed

Recommendations for NWFP budget reviewed

NWFP Finance Minister Engineer Muhammad Humayun Khan on Thursday chaired three separate meetings to discuss and review the progress of various wings of the Finance Department and finalise recommendations before the coming budget.
Published 30 May, 2008 12:00am
CPSP workshop

CPSP workshop

College of Physicians & Surgeons Pakistan (CPSP) Regional Centre, Lahore conducted a workshop on surgical skills here on Thursday. The concluding session was chaired by the chief guest Professor Abdul Majeed Chaudhry, Principal, Fatima Jinnah Medical Coll
Published 30 May, 2008 12:00am
Over Rs 10 billion allocation for health sector expected

Over Rs 10 billion allocation for health sector expected

More than Rs 10 billion is expected to be earmarked for development of the health sector in the federal budget for 2008-09, a record 20 per cent increase in a year. Member of National Assembly (MNA) Syeda Nafeesa Shah told APP on Wednesday that an expecte
Published 30 May, 2008 12:00am
Budget to be pro-poor, business friendly: Zardari

Budget to be pro-poor, business friendly: Zardari

The Co-Chairman Pakistan Peoples Party Asif Ali Zardari says the next budget will be pro-poor and business friendly and they will continue negotiations for strengthening of democracy. He was speaking at a reception hosted by Mian Manzoor Ahmad Wattoo in I
Published 30 May, 2008 12:00am
Strike observed against manhandling of BISE invigilators

Strike observed against manhandling of BISE invigilators

The employees of Board of Intermediate and Secondary Education (BISE) Mirpurkhas observed strike here on Wednesday to protest against alleged manhandling of two members of vigilance team of the Board by various persons at the examination centre of Governm
Published 30 May, 2008 12:00am
Seminar

Seminar

The Information Technology Club University of Peshawar has arranged a seminar on "Seasonal to inter-annual climate prediction using data mining technique" on May 30 here at Agha Khan Auditorium. Professor Dr Sayed Shah Jehan Kakakhel, Dean Faculty of Mana
Published 30 May, 2008 12:00am
Nato hopes Pakistan will resume border operations

Nato hopes Pakistan will resume border operations

The head of Nato forces in Afghanistan, US General Dan McNeill, said on Thursday he was optimistic Pakistan would resume operations against militants along its border with Afghanistan. The three-month-old government in Islamabad has scaled down operations
Published 30 May, 2008 12:00am
Agha Maqsood made LDA director general

Agha Maqsood made LDA director general

Sindh government has ordered transfers and postings with immediate effect. Agha Maqsood Abbas, Controller, Karachi Building Control Authority (BS-19) has been transferred and posted as Director General Lyari Development Authority in his own pay and scale
Published 30 May, 2008 12:00am
Defending the tightening of monetary policy

Defending the tightening of monetary policy

The tightening of monetary policy by the State Bank on 22nd May has, by and large, been criticised by the business community. This was expected because, whatever the arguments, borrowers don't want to pay a higher price for the use of funds obtained from
Published 30 May, 2008 12:00am
People's triumph

People's triumph

At the very first meeting of its constitutional assembly on Wednesday, Nepal emerged as the world's newest republic ending the 239-year Shah dynasty monarchy and the personal dictatorial rule of King Gyanendra. The new government gave the king only 15 day
Published 30 May, 2008 12:00am
Industrial relations, key to economic progress - II

Industrial relations, key to economic progress - II

A Canadian writer on "Labour Relations" has used the term "Labour Relations" in preference to "Industrial Relations". The term, according to him, has come to mean that part of general labour field which includes the procedures of collective bargaining, th
Published 30 May, 2008 12:00am
Canada reopens its 'most disgraceful' act

Canada reopens its 'most disgraceful' act

After decades of foot-dragging, Canada is finally about to take a close look at what one aboriginal leader calls "the single most disgraceful, harmful and racist act in our history". From the 1870s to the 1970s, around 150,000 native Indian children were
Published 30 May, 2008 12:00am
Deadly crossing kills thousands of desperate refugees

Deadly crossing kills thousands of desperate refugees

On a beach in Bosaso, North-East Somalia, near the tip of the Horn of Africa, dozens of Somali and Ethiopian refugees perch on rocks or squat in the sand, peering across the Gulf of Aden to the promised land. They are waiting for boats to carry them to Ye
Published 30 May, 2008 12:00am
Evolving an effective textile policy

Evolving an effective textile policy

These days we read many different articles highlighting the crisis textile sector in Pakistan is facing and many possible solutions are being aired by various stakeholders.
Published 30 May, 2008 12:00am
Zardari asks Musharraf to quit before June 10

Zardari asks Musharraf to quit before June 10

President's aide Tariq Aziz is said to have delivered an important message of PPP co-chairman Asif Ali Zardari to Pervez Musharraf. According to Aaj TV, Zardari, through his message, has demanded of the President to quit before June 10.
Published 30 May, 2008 12:00am
Zardari asks Musharraf to quit before June 10

Zardari asks Musharraf to quit before June 10

President's aide Tariq Aziz is said to have delivered an important message of PPP co-chairman Asif Ali Zardari to Pervez Musharraf. According to Aaj TV, Zardari, through his message, has demanded of the President to quit before June 10.
Published 30 May, 2008 12:00am
'Pakistan largest contributor to UN peacekeeping missions'

'Pakistan largest contributor to UN peacekeeping missions'

"Pakistan has always provided maximum possible support to maintain peace and stability around the world and has been at the fore front in international peacekeeping missions around the Globe", said DG ISPR, Major General Athar Abbas while briefing Senate
Published 30 May, 2008 12:00am
US MIDDAY: gold and platinum slide

US MIDDAY: gold and platinum slide

New York gold and platinum futures tumbled on Thursday, following closely the weakness in the energy market due to a speculative sell-off ahead of a key US inventory report. The June gold contract on Comex division of New York Mercantile Exchange down $19
Published 30 May, 2008 12:00am
US MIDDAY: copper declines

US MIDDAY: copper declines

US copper futures fell more than 3 percent at the open on Thursday as further weakness in energy markets and a stronger dollar eroded the industrial metal's value further, traders said.
Published 30 May, 2008 12:00am
US MIDDAY: soyabeans plummet

US MIDDAY: soyabeans plummet

July soyabean futures were down 47-1/4 cents at $13.25-1/2 per bushel, new-crop November down 34-1/4 at $13.23. Profit-taking and fund positioning at month's end. Spillover weakness from crude oil and gold, plus dollar strength.
Published 30 May, 2008 12:00am
US MIDDAY: corn tumbles

US MIDDAY: corn tumbles

July corn was down 9-1/2 cents at $5.83 per bushel, new-crop December down 9-1/2 at $6.10.Lower on month-end positioning by funds and spillover weakness from soyabeans, crude oil and gold. Dollar strength adds pressure.
Published 30 May, 2008 12:00am
US MIDDAY: wheat dips

US MIDDAY: wheat dips

July wheat was down 11-1/2 cents at $7.47-1/2 per bushel.Seasonal pressure from the start of the US winter wheat harvest. Added pressure from spillover weakness in gold, plus dollar strength.
Published 30 May, 2008 12:00am
US MIDDAY: sugar falls

US MIDDAY: sugar falls

Raw sugar futures on ICE Futures US at 8:50 am. July contract was down 0.11 cent at 10 cents per lb. Range from 9.96 to 10.14 cents. July contract volume at 14,995 lots. Market slips from investor sales and soft tone of crude market - traders.
Published 30 May, 2008 12:00am
US MIDDAY: cocoa soars, coffee sags

US MIDDAY: cocoa soars, coffee sags

Arabica coffee futures on ICE Futures US dropped on producer selling Thursday, and cocoa rallied to its highest level since May 13 as funds continued their buying spree, triggering stop-loss buy orders as it advanced, traders said.
Published 30 May, 2008 12:00am
Gold and platinum slip in London

Gold and platinum slip in London

Precious metals fell sharply on Thursday, as a rally in the dollar against major currencies dampened their appeal as an alternative investment. Declining oil prices also hit market sentiment, with gold falling more than 2 percent to a two-week low, platin
Published 30 May, 2008 12:00am
US soya futures soar

US soya futures soar

US soybean futures on the Chicago Board of Trade surged on Wednesday in line with the rebound in crude oil and concerns about trade in one of the world's leading soy exporters after Argentine farmers resumed their strike, traders said.
Published 30 May, 2008 12:00am
New York cotton futures settle easier

New York cotton futures settle easier

Cotton futures ended easier on Thursday on investment fund sales inspired in part by weak commodity markets, but trade and consumer buying pared the losses in fibre contracts, brokers said.
Published 30 May, 2008 12:00am
Oil falls $4, shrugs off US supply drop

Oil falls $4, shrugs off US supply drop

Oil prices dropped $4 on Thursday as concerns about global energy demand and strength in the dollar countered a government report showing the biggest decline in US stockpiles since 2004. US crude settled down $4.41 at $126.62 a barrel, while London Brent
Published 30 May, 2008 12:00am
Base metals tumble

Base metals tumble

Industrial metals lead, zinc and tin fell sharply on Thursday, hit by waning demand and rising stockpiles in warehouses. Tin was the biggest loser, falling $2,600 or more than 10 percent to close at $21,100 per tonne, its lowest since April 15. Despite th
Published 30 May, 2008 12:00am
London cocoa rises, sugar slips

London cocoa rises, sugar slips

London cocoa futures hit a two-week high on Thursday on weaker sterling and fears over a cut in output in Ivory Coast, but worries about a glut in supply dragged down sugar to its lowest level in more than two months. "There's plenty of sugar everywhere,"
Published 30 May, 2008 12:00am
Britain's top share index flat

Britain's top share index flat

Britain's blue chip index ended unchanged on Thursday as near-record crude prices boosted commodity shares but economic and rights issue concerns dragged banks lower. During a thin trading session, the FTSE 100 ended down 1.5 points or 0.02 percent at 6,0
Published 30 May, 2008 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads nudged tighter on Thursday, as thin headlines and sparse trading focused markets on marginal gains in European and US equities. By 1525 GMT, the Markit investment-grade iTraxx Europe index was at 78 basis points, according to Marki
Published 30 May, 2008 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads nudged tighter on Thursday, as thin headlines and sparse trading focused markets on marginal gains in European and US equities. By 1525 GMT, the Markit investment-grade iTraxx Europe index was at 78 basis points, according to Marki
Published 30 May, 2008 12:00am
Thursday's afternoon trade: Wall Street rallies on lower oil

Thursday's afternoon trade: Wall Street rallies on lower oil

US stocks rallied on Thursday as a $4 drop in oil soothed inflation fears, while an upward revision in a broad measure of US economic growth suggested a recession may be avoided. MasterCard shares were among the top gainers after the credit and debit card
Published 30 May, 2008 12:00am
Dollar rises versus majors in London

Dollar rises versus majors in London

The dollar rose against a basket of major currencies on Thursday after hawkish Federal Reserve comments prompted a jump in short-dated US bond yields, lifting demand for assets denominated in the US currency.
Published 30 May, 2008 12:00am
Indian rupee eases

Indian rupee eases

The Indian rupee eased on Thursday after global crude prices inched up toward record highs, pushing up dollar demand from oil refiners to meet their month-end import commitments. The partially convertible rupee ended at 42.785/795 per dollar on Thursday o
Published 30 May, 2008 12:00am
Sterling slips

Sterling slips

Sterling slipped against a broadly firmer dollar on Thursday after a record fall in UK house prices added to the view that the economy may continue to weaken.
Published 30 May, 2008 12:00am
Russia wins new greenhouse gas emissions rights

Russia wins new greenhouse gas emissions rights

Russia has won rights to emit or sell licences for extra greenhouse gases equivalent to France's total annual output, after revisions to Soviet-era data underpinning a UN climate pact, official documents show.
Published 30 May, 2008 12:00am
Iran slams Iraq 'occupiers' at Stockholm

Iran slams Iraq 'occupiers' at Stockholm

Iran said on Thursday it was keen to play a major role in the reconstruction of Iraq, and lambasted the United States and its allies for "mistaken policies" in its neighbour. Iran's foreign minister, Manouchehr Mottaki, told an international conference on
Published 30 May, 2008 12:00am
Germany vows support for Israel against Iran

Germany vows support for Israel against Iran

Germany's foreign minister pledged on Thursday to stand up for the security of Israel and urged a tough line against Iran's President Mahmoud Ahmadinejad, calling his denial of the Holocaust "unbearable".
Published 30 May, 2008 12:00am
Thai rubber output to rise by 2010

Thai rubber output to rise by 2010

Thailand expects rubber production to rise 13 percent by 2010, as it widens north-eastern plantation areas in a drive to turn the region into an Indochina rubber trading hub, a government minister said on Thursday.
Published 30 May, 2008 12:00am
Hong Kong stocks slightly firmer

Hong Kong stocks slightly firmer

Hong Kong stocks rose 0.6 percent on Thursday, tracking firmer regional markets, after data showed surprisingly strong US business spending, but offshore oil producer CNOOC fell as crude prices declined. PCCW Ltd jumped 9.4 percent after the city's domina
Published 30 May, 2008 12:00am
Australian shares close up 1.1 percent

Australian shares close up 1.1 percent

Australian shares closed up 1.1 percent on Thursday as investors snapped up leading energy stocks, although concerns about rising costs weighed on industrial counters, dealers said. The benchmark S&P/ASX 200 closed up 61.3 points at 5,709.4, while the bro
Published 30 May, 2008 12:00am
Jakarta shares make small gains

Jakarta shares make small gains

Indonesian shares closed a volatile session 0.5 percent higher on Thursday, supported by overnight gains on Wall Street and higher dividend payouts by major companies, dealers said. The Jakarta Composite Index closed up 13.19 points at 2,446.95, off a hig
Published 30 May, 2008 12:00am
Turner to take top job at UK's FSA

Turner to take top job at UK's FSA

Britain has named former industry boss Adair Turner as chairman of its financial regulator, charged with restoring confidence in a watchdog battered by the near-collapse of Northern Rock and the wider credit crunch.
Published 30 May, 2008 12:00am
Turner to take top job at UK's FSA

Turner to take top job at UK's FSA

Britain has named former industry boss Adair Turner as chairman of its financial regulator, charged with restoring confidence in a watchdog battered by the near-collapse of Northern Rock and the wider credit crunch.
Published 30 May, 2008 12:00am
Petronas pays Santos $2.5 billion for LNG stake

Petronas pays Santos $2.5 billion for LNG stake

Malaysian state oil company Petronas will buy a 40 percent stake in Australian energy firm Santos Ltd's Gladstone liquefied natural gas project for up to $2.51 billion, to bolster its position as Asia's largest LNG producer as competition heats up.
Published 30 May, 2008 12:00am
US GDP growth revised higher, jobless claims up

US GDP growth revised higher, jobless claims up

The US economy grew a bit faster than first thought in the first quarter as demand for foreign goods fell and commercial building picked up, adding to evidence that the United States may stave off recession. The Commerce Department said on Thursday that g
Published 30 May, 2008 12:00am
Eurozone economy slows as inflation picks up

Eurozone economy slows as inflation picks up

The eurozone economy is slowing while inflation remains stubbornly high, data showed on Thursday in a mix that is likely to keep European Central Bank interest rates on hold for some time. Economic sentiment defied expectations that it would fall for the
Published 30 May, 2008 12:00am
Norway numbers show economic cycle has peaked

Norway numbers show economic cycle has peaked

Fresh economic data confirmed on Thursday that Norway's booming, oil-charged economy has reached its peak after nearly five years of strong growth, casting doubt on expectations of further interest rate increases. Private consumption grew less than expect
Published 30 May, 2008 12:00am
Credit turmoil to dampen Swiss growth: IMF

Credit turmoil to dampen Swiss growth: IMF

The global credit turmoil is set to dampen economic growth in Switzerland, where the financial sector has been hit by bank losses related to the US subprime mortgage crisis, the International Monetary Fund said on Thursday.
Published 30 May, 2008 12:00am
India unveils final guidelines for foreign exchange futures

India unveils final guidelines for foreign exchange futures

An Indian panel on Thursday recommended the introduction of exchange-traded currency futures as a way of developing the country's foreign exchange markets, although foreigners would not be able to trade the derivatives.
Published 30 May, 2008 12:00am
US farm bill poor trade signal: Lamy

US farm bill poor trade signal: Lamy

A US Congress farm plan that could increase agricultural subsidies does not help efforts to conclude a long-delayed global trade deal, World Trade Organisation Director-General Pascal Lamy said on Thursday. After meeting visiting senior US lawmakers in Br
Published 30 May, 2008 12:00am
Bangladesh banks to raise deposit rates to narrow gap

Bangladesh banks to raise deposit rates to narrow gap

Bangladesh's private banks will raise interest rates by up to 3 percentage points for deposits to narrow the gap with lending rates which have also come down, a senior bank official said on Thursday. Private banks last week agreed to cut lending rates by
Published 30 May, 2008 12:00am
India may end wheat, basmati rice export bans

India may end wheat, basmati rice export bans

India will review bans on exports of wheat and basmati rice, but shipments of other grades of rice will not be allowed at least until November, the country's farm minister, Sharad Pawar, told Reuters.
Published 30 May, 2008 12:00am
India okays $193 million foreign investments

India okays $193 million foreign investments

India on Thursday approved 14 foreign direct investment proposals totally worth 8.26 billion rupees ($193 million), including in electrical-products maker Havells India Ltd. Finance Minister Palaniappan Chidambaram approved the issue of shares and convert
Published 30 May, 2008 12:00am
Investors boost stocks to 2008 high

Investors boost stocks to 2008 high

Leading global investors lifted their stock holdings to the highest level this year in May but remained cautious in the face of fragile global growth and higher inflation. Reuters surveys of 44 investment companies in the United States, continental Europe
Published 30 May, 2008 12:00am
UN carbon offset market grows as exchanges rush in

UN carbon offset market grows as exchanges rush in

Trade in UN-approved carbon emission offset credits under the Kyoto Protocol is quickly becoming mainstream as exchanges looking for a piece of the action rush into the still nascent market.
Published 30 May, 2008 12:00am
US corn ends lower

US corn ends lower

US corn futures on the Chicago Board of Trade fell Wednesday on ideas of reduced feed use after the government said it would open more than 24 million Conservation Reserve Programme acres for foraging cattle, traders said.
Published 30 May, 2008 12:00am
Prices mostly turn lower on grain market

Prices mostly turn lower on grain market

Small business was seen on the grain market on Thursday as most of the commodity items drifted lower, dealers said. On the cereal side, wheat old and new rose by Rs 50 to Rs 2200 and 2215. Other commodities maintained the overnight levels in process slow
Published 30 May, 2008 12:00am
Spot rate raised by Rs 50 at Rs 3700 on cotton market

Spot rate raised by Rs 50 at Rs 3700 on cotton market

Spot rate was further higher on the cotton market on Thursday despite the fact that there was no rush by the mills, experts said. The Karachi Cotton Association (KCA) raised official spot rate by another Rs 50 second in succession, at Rs 3700, dealers sai
Published 30 May, 2008 12:00am
Oil cake market rates

Oil cake market rates

Downward trend persisted on the forward cottonseed oilcake market on Thursday as leading buyers were on the sidelines due to rising trend in the prices, dealers said. The July vaida opened with Re.1 loss at 805.00, they said.

Published 30 May, 2008 12:00am
US wheat ends mixed

US wheat ends mixed

US wheat futures closed mixed on Wednesday, paring early losses as spillover strength from a rally in soyabeans and crude oil offset pressure from improved US winter wheat ratings and harvest pressure, traders said. Outlooks for much-needed rain in easter
Published 30 May, 2008 12:00am
New York cocoa closes higher

New York cocoa closes higher

US cocoa futures prices ended Wednesday with healthy gains as some funds bought in tandem with rising oil prices, which sent prices through key resistance levels that traders said spurred additional buying.
Published 30 May, 2008 12:00am
Indian sugar falls

Indian sugar falls

Indian sugar futures fell for a fourth day on Thursday, taking cues from sluggish spot demand after rains in some regions drove bulk buyers like ice cream and beverage makers away. At 4:05 pm (1035 GMT), the June contract was down 0.43 percent at 1,402 ru
Published 30 May, 2008 12:00am
Cotton prices tightly held at record levels

Cotton prices tightly held at record levels

Cotton prices continued their advance this week and remained firm on Thursday even if the reported volume of business remained low. Traders said that ginners still hold more or less 200,000 (Two hundred thousand) bales of unsold cotton with them from the
Published 30 May, 2008 12:00am
Dyes finish up on Jodia Bazaar

Dyes finish up on Jodia Bazaar

The trading on dyes moved up on Jodia Bazaar here on Thursday. The following variations were seen.
Published 30 May, 2008 12:00am
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