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Print - 2010-03-21
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (March 20, 2010).

Published 21 Mar, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (March 20, 2010).

Published 21 Mar, 2010 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including Public Debt Offices will remain closed on March 23 (Tuesday) on account of Pakistan Day.
Published 21 Mar, 2010 12:00am
THE RUPEE: dollar resurges

THE RUPEE: dollar resurges

The rupee failed to retain its firmness against dollar on the local currency market on Saturday, experts said. On the interbank market the rupee was sharply down by 18 paisa against the dollar for buying and selling at 84.35 and 84.40, they said.
Published 21 Mar, 2010 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including Public Debt Offices will remain closed on March 23 (Tuesday) on account of Pakistan Day.
Published 21 Mar, 2010 12:00am
THE RUPEE: dollar resurges

THE RUPEE: dollar resurges

The rupee failed to retain its firmness against dollar on the local currency market on Saturday, experts said. On the interbank market the rupee was sharply down by 18 paisa against the dollar for buying and selling at 84.35 and 84.40, they said.
Published 21 Mar, 2010 12:00am
Banks to remain closed on March 23

Banks to remain closed on March 23

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including Public Debt Offices will remain closed on March 23 (Tuesday) on account of Pakistan Day.
Published 21 Mar, 2010 12:00am
Air strikes, clashes kill 32 militants in Orakzai Agency

Air strikes, clashes kill 32 militants in Orakzai Agency

At least 32 people, most of them insurgents, were killed on Saturday in clashes with pro-government tribesmen and airstrikes by Pakistan army in Orakzai Agency, security officials said. Jet fighters pounded the hideouts of Taliban militants in Orakzai Age
Published 21 Mar, 2010 12:00am
Air strikes, clashes kill 32 militants in Orakzai Agency

Air strikes, clashes kill 32 militants in Orakzai Agency

At least 32 people, most of them insurgents, were killed on Saturday in clashes with pro-government tribesmen and airstrikes by Pakistan army in Orakzai Agency, security officials said. Jet fighters pounded the hideouts of Taliban militants in Orakzai Age
Published 21 Mar, 2010 12:00am
Gunmen kill seven in Quetta

Gunmen kill seven in Quetta

Gunmen have shot dead seven people in separate incidents in Quetta, police said on Saturday. At least three Shias were killed on Saturday when two men riding a motorbike opened fire on the outskirts of Quetta. "All three men died on the spot," senior poli
Published 21 Mar, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (March 20, 2010).

Published 21 Mar, 2010 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 (March 20, 2010).

Published 21 Mar, 2010 12:00am
US allows India to quiz Headley

US allows India to quiz Headley

The United States will permit India to question a Chicago man who has admitted scoping out sites for the deadly 2008 Mumbai attacks, Home Minister P. Chidambaram said on Saturday. The assurance came following a telephone conversation between Chidambaram a
Published 21 Mar, 2010 12:00am
CoAS leaves for US

CoAS leaves for US

Chief of Army Staff, General Ashfaq Parvez Kayani on Saturday left on an official visit to United States. He is visiting USA on the special invitation of the US Centcom General David Petraeus. During the visit, CoAS would meet senior military and governme
Published 21 Mar, 2010 12:00am
CoAS leaves for US

CoAS leaves for US

Chief of Army Staff, General Ashfaq Parvez Kayani on Saturday left on an official visit to United States. He is visiting USA on the special invitation of the US Centcom General David Petraeus. During the visit, CoAS would meet senior military and governme
Published 21 Mar, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (March 20, 2010).

Published 21 Mar, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (March 20, 2010).
Published 21 Mar, 2010 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 (March 20, 2010).

Published 21 Mar, 2010 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 (March 20, 2010).

Published 21 Mar, 2010 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 (March 20, 2010).

Published 21 Mar, 2010 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 (March 20, 2010).

Published 21 Mar, 2010 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 21 Mar, 2010 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 21 Mar, 2010 12:00am
National Highway Authority: Builders of the Road Network

National Highway Authority: Builders of the Road Network

Modern communication system plays an important role in the economic and social development of any country. Keeping in view the importance of the communication system, the present government of Pakistan has given utmost priority to this sector, to provide
Published 21 Mar, 2010 12:00am
Road safety in Pakistan

Road safety in Pakistan

Before 1997 there was no concept of Road Safety in the public in Pakistan but as soon as the department of Motorway Police was established, this concept also took position on ground. Where there is said that the Motorway Police is the pioneer to change th
Published 21 Mar, 2010 12:00am
Message from IG, NH&MP

Message from IG, NH&MP

South Asian Association for Regional Co-operation (SAARC) will replicate the National Highways and Motorway Police (NH&MP) role model of soft and people-friendly policing in other countries of the region.
Published 21 Mar, 2010 12:00am
Message from Chairman NHA

Message from Chairman NHA

Establishment operation and maintenance, of a high speed, reliable safe road network linked up with the ports and borders of the country, is the foremost duty of NHA. In order to fulfil this national obligation, NHA is taking maximum advantage from the la
Published 21 Mar, 2010 12:00am
Message from Minister for Communications

Message from Minister for Communications

Allah Almighty has gifted Pakistan with great generosities. It is rich with natural treasures, capturing valleys and beautiful coastal belt and landscapes as well. In order to utilise these resources for the welfare of the people, availability of a synchr
Published 21 Mar, 2010 12:00am
US Midwest corn bids steady to firm

US Midwest corn bids steady to firm

Corn spot basis bids were steady to firm at US Midwest processors and elevators while soybean and soft red winter wheat bids were unchanged amid slow country selling of all three commodities, grain merchants said. Farmers delayed sales as corn and wheat f
Published 21 Mar, 2010 12:00am
Oil cake market rates

Oil cake market rates

Firmer trend was seen on the forward cottonseed oilcake market on Saturday during the modest trade, dealers said. The March contract which ended at Rs 987.10 opened with a gain of Rs 1.70 at Rs 988.80, dealers said. The May vaida that closed at Rs 990.00,
Published 21 Mar, 2010 12:00am
Subdued business seen on cotton market

Subdued business seen on cotton market

Subdued business was seen on the cotton market on Saturday as main participants were not interested in buying due to lack of leads, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5450, dealers said.
Published 21 Mar, 2010 12:00am
Several price changes seen on grain market

Several price changes seen on grain market

Several changes were seen on the wholesale grain and seed market on Saturday as buyers made fresh deals to meet immediate needs, dealers said. On the cereal side wheat old (Bardana-with bag) quoted at Rs 2440 and new registered at Rs 2455, Gur was down by
Published 21 Mar, 2010 12:00am
China could halt all imports of Canadian canola seed

China could halt all imports of Canadian canola seed

China could halt all imports of Canadian canola seed within five months, but an oilseeds analyst said on Friday that favourable economics bode well for boosting exports to the country in the longer term. China said last year it would require Canadian cano
Published 21 Mar, 2010 12:00am
FOB Gulf corn export premiums firmer

FOB Gulf corn export premiums firmer

US corn export premiums were mostly steady to slightly firmer on Friday, supported by rising CIF barge values and moderate demand, traders said. Corn premiums down about 2 to 4 cents a bushel in the week; May futures up about 8-3/4 cents, or 2.4 percent.
Published 21 Mar, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 111,198 tonnes of cargo including 51,435 tonnes of import cargo; 59,763 tonnes of export cargo and 6,340 loaded and empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 51,435 tonnes com
Published 21 Mar, 2010 12:00am
Indonesia's corn imports seen rising

Indonesia's corn imports seen rising

Indonesian corn imports are expected to rise to as much as 700,000 tonnes this year, or a 75 percent jump, as local corn production is set to be lower due to dry weather, the head of the cattle feed industry association said on Friday.
Published 21 Mar, 2010 12:00am
US corn export sales jump

US corn export sales jump

US corn export sales last week more than doubled from the previous week's two-month low as a drop in prices sparked better demand, although sales were mostly to regular US corn buyers, traders said. The US Agriculture Department said net sales of US corn
Published 21 Mar, 2010 12:00am
Brazil coffee farmers face difficult harvest

Brazil coffee farmers face difficult harvest

The tricky coffee harvest farmers in world top grower Brazil have been dreading is a little more than a month away and looks set to prove every bit as difficult as they had been fearing, producers said. Trees will bear a traffic-light-like mixture of ripe
Published 21 Mar, 2010 12:00am
US copper shifts to close lower

US copper shifts to close lower

US copper futures reversed to close lower Friday, feeling the heavy hand of the strong dollar and chart-based pressure, while demand concern in China and India's interest rate hike also gave pressure, dealers said. Copper for May delivery closed down 2.30
Published 21 Mar, 2010 12:00am
US gold falls toward $1,100

US gold falls toward $1,100

US gold futures fell toward $1,100 an ounce on Friday, losing nearly 2 percent as a weaker euro on Greece's deficit problems prompted investors to sell ahead of the weekend. COMEX April settled down $19.90, or 1.8 percent, at $1,107.60 an ounce. Range $1,
Published 21 Mar, 2010 12:00am
Asian rice: Thai prices ease but Vietnam steady

Asian rice: Thai prices ease but Vietnam steady

Rice prices in Thailand, the world's biggest exporter, slipped on Wednesday but price-support measures are likely to prevent big falls this month, while prices in number two exporter Vietnam held steady. Thailand's benchmark 100 percent B grade white rice
Published 21 Mar, 2010 12:00am
US sugar imports to rise

US sugar imports to rise

The United States, which historically has limited sugar imports to a minimum required under trade agreements, will start boosting imports of the sweetener as domestic output stays flat while consumption climbs. Normally, the United States allows sugar imp
Published 21 Mar, 2010 12:00am
US soyabeans rise

US soyabeans rise

US soyabean futures closed higher on Friday on support from short-covering and news from USDA that exporters sold 106,000 tonnes of soya to an unknown destination, likely China. CBOT May up 2-1/4 cents per bushel at $9.61-3/4. Funds sold 2,000 lots.
Published 21 Mar, 2010 12:00am
US cotton plantings seen getting robust start

US cotton plantings seen getting robust start

Abundant snow and rain this winter have boosted soil moisture levels across the US cotton belt, guaranteeing a robust start to the crop in 2010. The moisture is particularly plentiful in Texas, the biggest cotton growing US state, where farmers normally h
Published 21 Mar, 2010 12:00am
US rice futures up

US rice futures up

US rice futures closed higher on Friday on short-covering in thin and choppy dealings. CBOT May up 8 cents per cwt at $12.70. Japan buys 60,210 tonnes rice via regular tender.
Published 21 Mar, 2010 12:00am
New York coffee buckles

New York coffee buckles

Arabica coffee futures tumbled to close lower Friday, dealing in a wide 5-cent range on fund selling and heavy pressure from the strong dollar and weak commodity complex, traders said. May arabica coffee futures fell 3.05 cents, or 2.25 percent, to close
Published 21 Mar, 2010 12:00am
New York cocoa sinks

New York cocoa sinks

US cocoa futures finished lower Friday, giving back much of this week's gains as the corrective bounce lost gumption and the strong dollar and weak commodity complex added pressure, brokers said. The May cocoa contract fell $59 to close at $2,834 a tonne.
Published 21 Mar, 2010 12:00am
New York sugar settles down

New York sugar settles down

Raw sugar futures settled lower Friday on sales sparked by a strong dollar as players mull if the market's recovery from the fall this week to an eight-month low can be sustained into next week, brokers said. May raw sugar contract fell 0.39 cent or by 2
Published 21 Mar, 2010 12:00am
Crude oil prices dive in volatile trade

Crude oil prices dive in volatile trade

Oil prices sank heavily last week as traders tracked the dollar and Greek debt concerns, and shrugged off a widely-expected decision from the 12-nation Opec cartel to maintain crude output levels. Many other commodities were also dragged lower by stubborn
Published 21 Mar, 2010 12:00am
Indonesia to unlock some areas for foreign investment

Indonesia to unlock some areas for foreign investment

Indonesia plans to unlock more sectors to overseas investors including health, agriculture and creative, although will not allow investment in telecommunication towers, the head of the country's investment co-ordinating board said. Gita Wirjawan said a dr
Published 21 Mar, 2010 12:00am
Doha trade talks not at their expected stage: India

Doha trade talks not at their expected stage: India

India's minister of commerce and industry said on Friday that progress in concluding global trade talks was behind schedule but that it was up to political leaders to decide if they can meet their own year-end deadline for a deal. Anand Sharma said the Do
Published 21 Mar, 2010 12:00am
Obama urges senators to support financial reform

Obama urges senators to support financial reform

US President Barack Obama urged lawmakers on Saturday to resist pressure to weaken a financial reform bill and called again for an independent consumer watchdog to help prevent future financial crises. As healthcare reform reaches a make-or-break vote in
Published 21 Mar, 2010 12:00am
US pay czar trims salaries at top of General Motors executive ranks

US pay czar trims salaries at top of General Motors executive ranks

The US pay czar will slash the number of top General Motors Co executives who will receive base salaries of more than $500,000 this year. US pay czar Kenneth Feinberg said he plans to release the 2010 compensation decisions next week on the five large US
Published 21 Mar, 2010 12:00am
China inflation goal tough but reachable: official

China inflation goal tough but reachable: official

China's 2010 inflation goal of 3 percent is tough but achievable, with good grain supplies and excess capacity helping keep prices down, while growth should hit 8 or 9 percent, senior government advisers told a conference on Saturday.
Published 21 Mar, 2010 12:00am
Keep Fed as watchdog of small US banks: Bernanke

Keep Fed as watchdog of small US banks: Bernanke

Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health of the entire US financial system. Bernanke, in a speech to the Ind
Published 21 Mar, 2010 12:00am
Bharti board okays $9 billion offer for Zain Africa

Bharti board okays $9 billion offer for Zain Africa

India's Bharti Airtel's board on Saturday approved a $9 billion offer for Kuwaiti telecom Zain's African assets, Bloomberg reported, citing two people with knowledge of the negotiations. Exclusive talks between Bharti and Zain expire on March 25, marking
Published 21 Mar, 2010 12:00am
Greece must implement austerity measures: Merkel

Greece must implement austerity measures: Merkel

German Chancellor Angela Merkel said in a speech on Saturday that Greece must implement its austerity programme and praised Greece Prime Minister George Papandreou for his efforts. "I thank the Greek Prime Minister for his austerity programme," Merkel sai
Published 21 Mar, 2010 12:00am
Greek leader warns Berlin that EU at risk if no aid

Greek leader warns Berlin that EU at risk if no aid

Greek Prime Minister George Papandreou implicitly criticised Germany on Saturday for opposing efforts to help his country out of its fiscal crisis, warning they risked destabilising the EU. "We have struggled for years to build a strong Europe, economical
Published 21 Mar, 2010 12:00am
Japan loans Turkmenistan for fertiliser plant

Japan loans Turkmenistan for fertiliser plant

Japan's state-run Bank for International Co-operation (JBIC) has loaned Turkmenistan 500 million dollars (370 million euros) to build a fertiliser plant, a state newspaper said Saturday. The credit is for an ammonia and urea plant to be built by Japanese
Published 21 Mar, 2010 12:00am
Goldman executives get big 2009 fund payouts

Goldman executives get big 2009 fund payouts

Goldman Sachs Group Inc CEO Lloyd Blankfein and other top executives, pressured by public outrage to slash their bonuses, still received tens of millions of dollars in distributions from an internal investment fund in 2009. Blankfein received $18.7 millio
Published 21 Mar, 2010 12:00am
Ahmadinejad suggests referendum on subsidy cuts

Ahmadinejad suggests referendum on subsidy cuts

Iran's President Mahmoud Ahmadinejad has suggested holding a referendum to approve subsidy cuts that the Islamic republic's parliament has repeatedly blocked, a news agency said on Saturday. Parliament this month passed a state budget for the next Iranian
Published 21 Mar, 2010 12:00am
UK Conservatives back US-style bank tax plan

UK Conservatives back US-style bank tax plan

Britain's opposition Conservatives would introduce a unilateral tax on banks similar to that planned by US President Barack Obama if they win the upcoming election, leader David Cameron said on Saturday.
Published 21 Mar, 2010 12:00am
Latin American markets soften

Latin American markets soften

Latin American currencies were mostly weaker on Friday on revived worries about Greece's debt problems, which weakened the euro against the safe-haven US dollar. Emerging market debt spreads narrowed 3 basis points to 257 basis points over Treasuries, acc
Published 21 Mar, 2010 12:00am
Canadian bond dips

Canadian bond dips

Interest-rate sensitive short-dated Canadian bond prices fell on Friday, as the stronger-than-expected data affirmed growing expectations of interest rate increases and despite a global flight to safety stemming from tensions about Greece's debt burden.
Published 21 Mar, 2010 12:00am
Canadian bond dips

Canadian bond dips

Interest-rate sensitive short-dated Canadian bond prices fell on Friday, as the stronger-than-expected data affirmed growing expectations of interest rate increases and despite a global flight to safety stemming from tensions about Greece's debt burden.
Published 21 Mar, 2010 12:00am
China bill, bond yields weaken

China bill, bond yields weaken

Chinese bill and bond yields dropped on Friday as the market further scaled back expectations of interest rate hikes, driven in part by Beijing's determination to maintain a stable currency, which suggested concern about the economic growth outlook.
Published 21 Mar, 2010 12:00am
China bill, bond yields weaken

China bill, bond yields weaken

Chinese bill and bond yields dropped on Friday as the market further scaled back expectations of interest rate hikes, driven in part by Beijing's determination to maintain a stable currency, which suggested concern about the economic growth outlook.
Published 21 Mar, 2010 12:00am
Canadian stocks fall

Canadian stocks fall

Toronto's main stock index ended lower for a second straight session on Friday, dropping below the 12,000 mark as weak commodity prices hit heavily weighted petroleum and metal producers. Natural gas major EnCana Corp declined 2.3 percent to C$31.37 while
Published 21 Mar, 2010 12:00am
US corporate bond spreads steady

US corporate bond spreads steady

US corporate bond spreads held steady on Friday as investors started to shrug off long-running concerns about Greece's debt problems, analysts said. Escalating worries about the high debt load of several European countries and the potential impact on the
Published 21 Mar, 2010 12:00am
US corporate bond spreads steady

US corporate bond spreads steady

US corporate bond spreads held steady on Friday as investors started to shrug off long-running concerns about Greece's debt problems, analysts said. Escalating worries about the high debt load of several European countries and the potential impact on the
Published 21 Mar, 2010 12:00am
Chinese hotel IPO faces economic tightening fears

Chinese hotel IPO faces economic tightening fears

Discount hotel chain China Lodging Group Ltd is emblematic of China's blistering growth, but it could be hurt if the government takes steps to prevent the world's third-largest economy from overheating. China Lodging, which hopes to raise about $100 milli
Published 21 Mar, 2010 12:00am
Korean bonds mixed

Korean bonds mixed

South Korean bond prices ended mixed on Friday, with longer-dated bonds extending their rally while shorter paper was weighed down by profit-taking as traders sought clarity on the market's next direction. The yield on 1-year treasury bonds held steady at
Published 21 Mar, 2010 12:00am
Korean bonds mixed

Korean bonds mixed

South Korean bond prices ended mixed on Friday, with longer-dated bonds extending their rally while shorter paper was weighed down by profit-taking as traders sought clarity on the market's next direction. The yield on 1-year treasury bonds held steady at
Published 21 Mar, 2010 12:00am
Shorter-dated US Treasuries tumble

Shorter-dated US Treasuries tumble

Shorter-dated US Treasury debt prices eased on Friday as traders worked to cheapen the notes ahead of next week's massive round of government debt supply. Losses were limited however, particularly in longer-dated maturities, as weaker stocks and ongoing w
Published 21 Mar, 2010 12:00am
Shorter-dated US Treasuries tumble

Shorter-dated US Treasuries tumble

Shorter-dated US Treasury debt prices eased on Friday as traders worked to cheapen the notes ahead of next week's massive round of government debt supply. Losses were limited however, particularly in longer-dated maturities, as weaker stocks and ongoing w
Published 21 Mar, 2010 12:00am