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Print - 2010-04-23
Mali trims cotton output forecast

Mali trims cotton output forecast

Mali raw cotton output will total 230,000 tonnes during the 2009-10 season, the state run Mali Textile Development Company (CMDT) said on Wednesday in its third consecutive forecast cut. The previous projection, set in October, was for 236,400 tonnes duri
Published 23 Apr, 2010 12:00am
ACCA-WWF Pakistan Environmental Reporting Awards

ACCA-WWF Pakistan Environmental Reporting Awards

Global warming and environmental change are a threat to the whole world. Pakistan is one of those countries that are facing the adverse affects of environmental changes. Therefore, the government is giving priority to environmental issues in Pakistan. Owi
Published 23 Apr, 2010 12:00am
BRIndex30 up by 10.29 points

BRIndex30 up by 10.29 points

On Thursday, BRIndex30 opened in the positive zone at 8,842.14. It closed at 8,852.43 with a net positive change of 10.29 points and percentage change of 0.12. It showed intra-day high of 8,935.28 and intra-day low of 8,835.83. The volume of BRIndex30 was
Published 23 Apr, 2010 12:00am
BRIndex30 up by 10.29 points

BRIndex30 up by 10.29 points

On Thursday, BRIndex30 opened in the positive zone at 8,842.14. It closed at 8,852.43 with a net positive change of 10.29 points and percentage change of 0.12. It showed intra-day high of 8,935.28 and intra-day low of 8,835.83. The volume of BRIndex30 was
Published 23 Apr, 2010 12:00am
Becton Dickinson Pakistan (Private) Limited

Becton Dickinson Pakistan (Private) Limited

BD (Becton, Dickinson and Company) is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The company is dedicated to improving people's health throughout the world. BD is foc
Published 23 Apr, 2010 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market on Thursday partially recovered its overnight losses on the back of expectations over early resolution of circular debt issue and healthy corporate results. After positive opening, the KSE-100 index hit 10,681.74 points intra-day
Published 23 Apr, 2010 12:00am
ICI Pakistan and OICCI - a history of investment

ICI Pakistan and OICCI - a history of investment

Celebrating its 150 years, OICCI has the distinction of being the oldest Chamber in South Asia and its contribution in fostering a conducive and progressive business environment and promoting and protecting the interests of foreign investors in Pakistan h
Published 23 Apr, 2010 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market on Thursday partially recovered its overnight losses on the back of expectations over early resolution of circular debt issue and healthy corporate results. After positive opening, the KSE-100 index hit 10,681.74 points intra-day
Published 23 Apr, 2010 12:00am
Chartis, a global insurance leader

Chartis, a global insurance leader

Chartis is a world leader in insurance, with 90 years of proven experience and customer service. Our fundamental strength lies in our 34,000 employees, who combine global reach with the ability to serve clients in more than 160 countries and jurisdictions
Published 23 Apr, 2010 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market on Thursday partially recovered its overnight losses on the back of expectations over early resolution of circular debt issue and healthy corporate results. After positive opening, the KSE-100 index hit 10,681.74 points intra-day
Published 23 Apr, 2010 12:00am
Community Development: OICCI Members' Initiatives

Community Development: OICCI Members' Initiatives

Also in the recent days, the country has not only witnessed severe earthquakes, first in the northern areas and then in Balochistan, but is also gripped with an ongoing war in its tribal areas which has displaced millions of people from their homes.
Published 23 Apr, 2010 12:00am
PSO board annuls LPG contract with Petrosin

PSO board annuls LPG contract with Petrosin

In a major development, Pakistan State Oil (PSO) Board of Management has scrapped the Rs 10 billion LPG contract with Petrosin which the board had approved earlier, Business Recorder has learnt. Sources told Business Recorder that a board of
Published 23 Apr, 2010 12:00am
Analysis of Findings: Investment survey 2009 - an overview

Analysis of Findings: Investment survey 2009 - an overview

With 181 members on board, the Overseas Investors Chamber of Commerce and Industry (OICCI) is the premier body of foreign investors contributing significantly to the economy of Pakistan. These contributions are in the form of tax receipts, revenue generat
Published 23 Apr, 2010 12:00am
PSO board annuls LPG contract with Petrosin

PSO board annuls LPG contract with Petrosin

In a major development, Pakistan State Oil (PSO) Board of Management has scrapped the Rs 10 billion LPG contract with Petrosin which the board had approved earlier, Business Recorder has learnt. Sources told Business Recorder that a board of
Published 23 Apr, 2010 12:00am
OICCI research and publications

OICCI research and publications

OICCI serves as a resource pool for its members as well as other key stakeholders. The Chamber regularly brings out publications to help members stay abreast of new developments. Moreover, the Chamber also serves as the focal point for various bodies to d
Published 23 Apr, 2010 12:00am
PSO board annuls LPG contract with Petrosin

PSO board annuls LPG contract with Petrosin

In a major development, Pakistan State Oil (PSO) Board of Management has scrapped the Rs 10 billion LPG contract with Petrosin which the board had approved earlier, Business Recorder has learnt. Sources told Business Recorder that a board of
Published 23 Apr, 2010 12:00am
Business giving back to society

Business giving back to society

Corporate Social Responsibility: Corporate Social Responsibility (CSR) is a recent phenomenon in social development and corporate business culture. The increasing role of corporations in the environment, lives and livelihood of people makes
Published 23 Apr, 2010 12:00am
''Invisible forces'' put Nepra under duress

''Invisible forces'' put Nepra under duress

The National Electric Power Regulatory Authority (Nepra) is reportedly being pressurised by the ''invisible forces'' for upward revision in bagasse and coal-fired power plants tariff being set up by sugar mill owners, well-informed sources told Busines
Published 23 Apr, 2010 12:00am
Key functions of OICCI

Key functions of OICCI

Policy Reform: The Chamber has been instrumental in charting new waters in Pakistan's financial, commercial and industrial spheres by playing an influential role in providing policy input. The Chamber is widely seen as a viable avenue for pr
Published 23 Apr, 2010 12:00am
'Invisible forces' put Nepra under duress

'Invisible forces' put Nepra under duress

The National Electric Power Regulatory Authority (Nepra) is reportedly being pressurised by the 'invisible forces' for upward revision in bagasse and coal-fired power plants tariff being set up by sugar mill owners, well-informed sources told Business
Published 23 Apr, 2010 12:00am
OICCI Profile

OICCI Profile

Established 150 years ago in 1860, Overseas Investors Chamber of Commerce and Industry (OICCI) is the oldest of investment chambers in the country. Diverse both in terms of sector and geography, the 183 members of OICCI collectively contribute more than 2
Published 23 Apr, 2010 12:00am
'Invisible forces' put Nepra under duress

'Invisible forces' put Nepra under duress

The National Electric Power Regulatory Authority (Nepra) is reportedly being pressurised by the 'invisible forces' for upward revision in bagasse and coal-fired power plants tariff being set up by sugar mill owners, well-informed sources told Business
Published 23 Apr, 2010 12:00am
OICCI member companies contribution to Pakistan's economy

OICCI member companies contribution to Pakistan's economy

OICCI Investment Survey Report 2009 indicates that our member companies make significant contributions to Pakistan»s economy. (The below figures are reflective of the contributions of 124 members, out of a total of 183 members, who participated in the sur
Published 23 Apr, 2010 12:00am
Swiss mull laws to allow break-up of UBS and Credit Suisse in crisis

Swiss mull laws to allow break-up of UBS and Credit Suisse in crisis

UBS and Credit Suisse should change their structure to allow their break-up in the case of an insolvency to limit the risks for the Swiss economy, a government commission said on Thursday. In an interim report on the too-big-to-fail issue, the commission
Published 23 Apr, 2010 12:00am
'Oldest Business Chamber in Pakistan'

'Oldest Business Chamber in Pakistan'

Through One Hundred and Fifty years, the Chamber, its member organisations and associated individuals have played a considerable and sometimes critical role in the economic infrastructure and social development of Karachi, Sindh and Pakistan. Tracing back
Published 23 Apr, 2010 12:00am
Swiss mull laws to allow break-up of UBS and Credit Suisse in crisis

Swiss mull laws to allow break-up of UBS and Credit Suisse in crisis

UBS and Credit Suisse should change their structure to allow their break-up in the case of an insolvency to limit the risks for the Swiss economy, a government commission said on Thursday. In an interim report on the too-big-to-fail issue, the commission
Published 23 Apr, 2010 12:00am
Hundred & fifty years OICCI 1860-2010

Hundred & fifty years OICCI 1860-2010

An organization that began as an ensemble of a few British trading concerns in a fledgling colonial town has become an orchestra harmonising the many multinational industrial and commercial voices of a large country. This long winding 150 year journey thr
Published 23 Apr, 2010 12:00am
Islamabad High Court re-established

Islamabad High Court re-established

Federal Minister for Law, Justice and Parliamentary Affairs Dr Baber Awan Thursday announced the re-establishment of Islamabad High Court and a notification has also been issued in this regard. According to the notification, the high court for Islamabad C
Published 23 Apr, 2010 12:00am
Turkey sells wheat, durum and barley

Turkey sells wheat, durum and barley

Turkish state grain board TMO has sold 50,000 tonnes of white milling wheat, 20,000 tonnes of red milling wheat and 5,000 tonnes of hard durum wheat in an export tender, European traders said on Thursday. It also sold 25,000 tonnes of feed wheat and 45,00
Published 23 Apr, 2010 12:00am
Islamabad High Court re-established

Islamabad High Court re-established

Federal Minister for Law, Justice and Parliamentary Affairs Dr Baber Awan Thursday announced the re-establishment of Islamabad High Court and a notification has also been issued in this regard. According to the notification, the high court for Islamabad C
Published 23 Apr, 2010 12:00am
Canadian canola futures mostly higher

Canadian canola futures mostly higher

ICE Canada canola futures closed mostly higher on Wednesday as a supportive rise in soyabean futures more than offset bearish thoughts of a record canola acreage, traders said. Canadian farmers will plant a record area of canola this spring by adding more
Published 23 Apr, 2010 12:00am
US wheat futures end mixed

US wheat futures end mixed

US wheat futures ended mixed on Wednesday, with the benchmark Chicago Board of Trade soft red winter wheat contract edging higher while hard red winter wheat and spring wheat fell. CBOT wheat was in consolidation mode following wild swings earlier this we
Published 23 Apr, 2010 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

The trading in Kirana items moved both ways on Jodia Bazar here on Thursday. The following changes were noted.
Published 23 Apr, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 138,058 tonnes of cargo including 90,942 tonnes of import cargo; 47,116 tonnes of export cargo and 4,534 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 90,942 tonnes com
Published 23 Apr, 2010 12:00am
Oil cake market rates

Oil cake market rates

Sharp rise was seen on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The May contract ended at Rs 1000.40, but opened with a fall of 40 paisa at Rs 1000.80, dealers said. The new July vaida closed at Rs 964.80 and
Published 23 Apr, 2010 12:00am
KCA raises spot rate by Rs 200 in a single day rally

KCA raises spot rate by Rs 200 in a single day rally

Cotton prices are still in search of new highs on the local market as on Thursday the official spot rate was up by Rs 200 in a single day rally, dealers said. The Karachi Cotton Association (KCA) official spot rate, continued riding on the back of short s
Published 23 Apr, 2010 12:00am
US Congress takes step towards Iran sanctions

US Congress takes step towards Iran sanctions

The US Congress took a critical step Thursday towards imposing new economic sanctions on Iran, as lawmakers warned time was running out to keep Tehran from developing nuclear weapons. "This may be our last chance to apply pressure on Iran before it is too
Published 23 Apr, 2010 12:00am
Nominal changes on grain market

Nominal changes on grain market

Small business was seen on the wholesale grain and oilseed market on Thursday as supply position was satisfactory from the upcountry centres, dealers said. On the cereal side wheat old with Bardana and new both shed Rs 25 to Rs 2275-2290. Gur low type ret
Published 23 Apr, 2010 12:00am
US Congress takes step towards Iran sanctions

US Congress takes step towards Iran sanctions

The US Congress took a critical step Thursday towards imposing new economic sanctions on Iran, as lawmakers warned time was running out to keep Tehran from developing nuclear weapons. "This may be our last chance to apply pressure on Iran before it is too
Published 23 Apr, 2010 12:00am
Bullish flames engulf cotton market pushing lint prices to new pinnacle

Bullish flames engulf cotton market pushing lint prices to new pinnacle

Indian government decision to suspend cotton exports and withdraw benefits to yarn exporters came as a bombshell pushing lint prices to an elevated spiral causing limit up performance by the May 2010 contract on the ICE futures market on Wednesday. Indian
Published 23 Apr, 2010 12:00am
IMF chief urges G20 cooperation on finance reform

IMF chief urges G20 cooperation on finance reform

Countries around the world must not go separate ways on reforming the financial sector, the head of the International Monetary Fund said as finance ministers and central bank chiefs gathered in Washington. Dominique Strauss-Kahn, the IMF''s Managing Direc
Published 23 Apr, 2010 12:00am
Bullish flames engulf cotton market pushing lint prices to new pinnacle

Bullish flames engulf cotton market pushing lint prices to new pinnacle

Indian government decision to suspend cotton exports and withdraw benefits to yarn exporters came as a bombshell pushing lint prices to an elevated spiral causing limit up performance by the May 2010 contract on the ICE futures market on Wednesday. Indian
Published 23 Apr, 2010 12:00am
IMF chief urges G20 cooperation on finance reform

IMF chief urges G20 cooperation on finance reform

Countries around the world must not go separate ways on reforming the financial sector, the head of the International Monetary Fund said as finance ministers and central bank chiefs gathered in Washington. Dominique Strauss-Kahn, the IMF's Managing Direct
Published 23 Apr, 2010 12:00am
US copper up

US copper up

US copper futures ended up on Wednesday as support from a firmer tone in the precious metals complex, robust Chinese import data and a jump in warehouse metal tagged for future delivery enabled prices to recover from earlier losses. Most-active copper for
Published 23 Apr, 2010 12:00am
IMF chief urges G20 cooperation on finance reform

IMF chief urges G20 cooperation on finance reform

Countries around the world must not go separate ways on reforming the financial sector, the head of the International Monetary Fund said as finance ministers and central bank chiefs gathered in Washington. Dominique Strauss-Kahn, the IMF's Managing Direct
Published 23 Apr, 2010 12:00am
Copper ends flat in Asia

Copper ends flat in Asia

London copper futures ticked higher on Thursday after a slightly softer performance in the previous session, while Shanghai futures were flat, in part weighed down by worries of excess supply in China. Fears about the fraud case against Goldman Sachs and
Published 23 Apr, 2010 12:00am
Punjab Hospital in Swat to be completed in 18 months

Punjab Hospital in Swat to be completed in 18 months

Punjab Hospital Swat, which is being constructed with an expenditure of Rs 600 million would be completed within 18 months, a spokesman of the Punjab government said. All the required formalities would be completed by May 30, 2010. Punjab Hospital Swat wo
Published 23 Apr, 2010 12:00am
Tokyo rubber futures at record high

Tokyo rubber futures at record high

Strong demand led Tokyo rubber futures to a record high for the spot contract on Thursday though falling oil prices encouraged investors to liquidate benchmark distant contracts, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange
Published 23 Apr, 2010 12:00am
Fake degree issue: two former lawmakers barred from contesting elections

Fake degree issue: two former lawmakers barred from contesting elections

An election tribunal of Lahore High Court here on Thursday barred two former parliamentarians of Pakistan People's Party (PPP) Nazir Ahmad Jutt and Allah Wasaya from contesting by-elections being held in NA-167, Vehari and PP-259 Muzaffargarh, respectivel
Published 23 Apr, 2010 12:00am
Customs blows the lid off tax frauds involving billions

Customs blows the lid off tax frauds involving billions

The R&D wing of Pakistan Customs has blown the lid off tax frauds of billions of rupees committed by prominent importers of auto parts, chemical and steel, it is learnt. Sources told Business Recorder on Thursday that the action was taken on a tip-
Published 23 Apr, 2010 12:00am
Nakheel trade creditors to get 10 percent on bond

Nakheel trade creditors to get 10 percent on bond

Dubai property developer Nakheel's plans to offer a hefty 10 percent return on an Islamic bond to its trade creditors, a source said, as Dubai tries to unblock stalled bill payments and kick-start its economy. In Dubai's $9.5 billion rescue plan for Nakhe
Published 23 Apr, 2010 12:00am
Kapco stops power project work

Kapco stops power project work

The Kot Addu Power Company (Kapco) has announced to do away with the proposed 280MW expansion project due to the impending circular debt and its consequential impact on the fuel supply chain to the power sector. In an information sent to Karachi Stock Exc
Published 23 Apr, 2010 12:00am
Nakheel trade creditors to get 10 percent on bond

Nakheel trade creditors to get 10 percent on bond

Dubai property developer Nakheel's plans to offer a hefty 10 percent return on an Islamic bond to its trade creditors, a source said, as Dubai tries to unblock stalled bill payments and kick-start its economy. In Dubai's $9.5 billion rescue plan for Nakhe
Published 23 Apr, 2010 12:00am
Kapco stops power project work

Kapco stops power project work

The Kot Addu Power Company (Kapco) has announced to do away with the proposed 280MW expansion project due to the impending circular debt and its consequential impact on the fuel supply chain to the power sector. In an information sent to Karachi Stock Exc
Published 23 Apr, 2010 12:00am
China slaps duties on nylon imports from US

China slaps duties on nylon imports from US

China on Thursday slapped anti-dumping duties on certain nylon imports from four trade partners, with the highest tariff imposed on material from the United States. The move comes a day after Washington launched an investigation into alleged dumping of al
Published 23 Apr, 2010 12:00am
Kapco stops power project work

Kapco stops power project work

The Kot Addu Power Company (Kapco) has announced to do away with the proposed 280MW expansion project due to the impending circular debt and its consequential impact on the fuel supply chain to the power sector. In an information sent to Karachi Stock Exc
Published 23 Apr, 2010 12:00am
Greek workers strike, warn of social explosion

Greek workers strike, warn of social explosion

Thousands of striking Greek civil servants marched on Thursday to protest against austerity measures, warning of a social explosion if the government agreed further cuts in aid talks with the EU and IMF. More than 10,000 civil servants and students marche
Published 23 Apr, 2010 12:00am
Panel ties Competition Ordinance with amendments

Panel ties Competition Ordinance with amendments

The Senate Standing Committee on Finance on Thursday decided not to approve the Competition Commission Ordinance 2009 till necessary amendments are made to the Ordinance to make it acceptable to all the stakeholders including leading sectors of Pakistan.
Published 23 Apr, 2010 12:00am
PepsiCo revenue misses view

PepsiCo revenue misses view

PepsiCo Inc posted a better-than-expected quarterly profit, but its revenue fell short of Wall Street expectations, hurt by weakness in its Americas beverage business. PepsiCo, which just bought its North American bottlers, said it was boosting investment
Published 23 Apr, 2010 12:00am
Panel ties Competition Ordinance with amendments

Panel ties Competition Ordinance with amendments

The Senate Standing Committee on Finance on Thursday decided not to approve the Competition Commission Ordinance 2009 till necessary amendments are made to the Ordinance to make it acceptable to all the stakeholders including leading sectors of Pakistan.
Published 23 Apr, 2010 12:00am
PepsiCo revenue misses view

PepsiCo revenue misses view

PepsiCo Inc posted a better-than-expected quarterly profit, but its revenue fell short of Wall Street expectations, hurt by weakness in its Americas beverage business. PepsiCo, which just bought its North American bottlers, said it was boosting investment
Published 23 Apr, 2010 12:00am
Panel ties Competition Ordinance with amendments

Panel ties Competition Ordinance with amendments

The Senate Standing Committee on Finance on Thursday decided not to approve the Competition Commission Ordinance 2009 till necessary amendments are made to the Ordinance to make it acceptable to all the stakeholders including leading sectors of Pakistan.
Published 23 Apr, 2010 12:00am
China wary of yuan, world economy impact on exports

China wary of yuan, world economy impact on exports

A big rise in the yuan would badly hurt Chinese exporters and could lead to a rise in unemployment, the Ministry of Industry and Information Technology said. Ministry spokesman Zhu Hongren was asked at a news conference on Thursday whether China was condu
Published 23 Apr, 2010 12:00am
Wealthy nations launch fund against world hunger, poverty

Wealthy nations launch fund against world hunger, poverty

The United States and a handful of wealthy partner countries on Thursday made good on a promise made last year as they launched a multi-billion-dollar fund to fight world hunger and poverty. "A global economy where more than one billion people suffer from
Published 23 Apr, 2010 12:00am
Eurozone manufacturing rallies fast

Eurozone manufacturing rallies fast

Private sector manufacturing across the eurozone posted the fastest growth for a decade in April, according to data and research group Markit on Thursday. Business activity right across the eurozone economy rose, with the purchasing managers' index (PMI)
Published 23 Apr, 2010 12:00am
Continental Air loss widens

Continental Air loss widens

Severe winter weather and higher fuel costs pinched Continental Airlines Inc's first-quarter results on Thursday and the company posted a larger-than-expected loss despite a jump in revenue. The Houston-based airline said its loss widened to $146 million,
Published 23 Apr, 2010 12:00am
TCP likely to face a loss of Rs one billion

TCP likely to face a loss of Rs one billion

Trading Corporation of Pakistan (TCP), which is already facing severe financial crisis, is likely to suffer over one billion rupee losses if management accepts bids of two rice tenders. Sources told Business Recorder on Thursday that government's g
Published 23 Apr, 2010 12:00am
Continental Air loss widens

Continental Air loss widens

Severe winter weather and higher fuel costs pinched Continental Airlines Inc's first-quarter results on Thursday and the company posted a larger-than-expected loss despite a jump in revenue. The Houston-based airline said its loss widened to $146 million,
Published 23 Apr, 2010 12:00am
TCP likely to face a loss of Rs one billion

TCP likely to face a loss of Rs one billion

Trading Corporation of Pakistan (TCP), which is already facing severe financial crisis, is likely to suffer over one billion rupee losses if management accepts bids of two rice tenders. Sources told Business Recorder on Thursday that government's g
Published 23 Apr, 2010 12:00am
UK probes alleged price-fixing at Cathay, Virgin

UK probes alleged price-fixing at Cathay, Virgin

Airlines Cathay Pacific and Virgin Atlantic may have illegally co-ordinated prices for passenger flights between London and Hong Kong, Britain's competition watchdog said on Thursday. The Office of Fair Trading said it had issued a statement of objections
Published 23 Apr, 2010 12:00am
TCP likely to face a loss of Rs one billion

TCP likely to face a loss of Rs one billion

Trading Corporation of Pakistan (TCP), which is already facing severe financial crisis, is likely to suffer over one billion rupee losses if management accepts bids of two rice tenders. Sources told Business Recorder on Thursday that government''s
Published 23 Apr, 2010 12:00am
US jobless claims fall, home sales rise

US jobless claims fall, home sales rise

The number of US workers filing new claims for jobless aid fell last week as the labour market gradually heals and producer price data showed inflation remained muted, despite a surge in food costs last month. In other data, sales of previously owned home
Published 23 Apr, 2010 12:00am
Customs blows the lid off tax frauds involving billions

Customs blows the lid off tax frauds involving billions

The R&D wing of Pakistan Customs has blown the lid off tax frauds of billions of rupees committed by prominent importers of auto parts, chemical and steel, it is learnt. Sources told Business Recorder on Thursday that the action was taken on a tip-
Published 23 Apr, 2010 12:00am
Geithner vows to put failing banks 'out of existence'

Geithner vows to put failing banks 'out of existence'

US Treasury Secretary Timothy Geithner vowed Thursday to put failing banks that take too much risk "out of existence" in order to avoid bailing out firms deemed "too big to fail" at taxpayers' expense. "Our view is that we need to make sure that you're li
Published 23 Apr, 2010 12:00am
India's ban on cotton exports to hit Bangladesh

India's ban on cotton exports to hit Bangladesh

Bangladesh's prime export industry textiles may suffer badly following India's restrictions on cotton exports this week, a business leader said on Thursday. Bangladesh buys 30 percent of its cotton needs from India transported by land, but supplies have s
Published 23 Apr, 2010 12:00am
New York sugar futures firm

New York sugar futures firm

Raw sugar futures closed firmer on Wednesday on modest investor buying, and analysts said the market will stay in a band until release of vital weather data from No 1 sugar consumer India this week. The May raw sugar contract rose 0.09 cent to close at 16
Published 23 Apr, 2010 12:00am
Earth Day: 'Tidy Lahore' campaign launched

Earth Day: 'Tidy Lahore' campaign launched

Hundreds of people from across Lahore will take to streets over the next four weeks in one of the largest ever co-ordinated efforts to clean up the streets and neighbourhoods of the city. The 'Tidy Lahore' campaign, part of the larger Azm-e-Alishan moveme
Published 23 Apr, 2010 12:00am
US soy ends strong

US soy ends strong

US soy futures closed higher on Wednesday after reaching a 4-1/2-month peak on persistent buying of US soy by China, with added support from slow farmer selling and firm cash markets. CBOT May settles up 11-1/2 cents at $9.95-1/2 per bushel; new-crop Nove
Published 23 Apr, 2010 12:00am
KBP for speeding up wheat procurement drive

KBP for speeding up wheat procurement drive

Different organisations expressing their dissatisfaction over pace of the on going wheat procurement drive and disbursement of gunny bags by the Punjab food department have urged the government to look into the matter and ensure an early solution.
Published 23 Apr, 2010 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian palm oil futures ended higher on Thursday on stronger vegetable oil markets, although some investors were still cautious on the ringgit currency. The Malaysian ringgit erased most of its earlier losses as exporters bought the local currency for
Published 23 Apr, 2010 12:00am
Oil ends steady below $84

Oil ends steady below $84

Oil was steady below $84 on Thursday after soaring US inventories signalled demand in the world's top energy user is lagging the recovery in the global economy. The International Monetary Fund on Wednesday said the world's recovery from recession had been
Published 23 Apr, 2010 12:00am
Three Kashmiris get death penalty for 1996 Delhi blasts

Three Kashmiris get death penalty for 1996 Delhi blasts

An Indian court on Thursday imposed the death penalty on three Kashmiris found guilty of planting bombs in a crowded New Delhi market that killed 13 people in 1996. "Three convicts are being awarded the death penalty, which is subject to confirmation from
Published 23 Apr, 2010 12:00am
US palladium soars

US palladium soars

US palladium futures ended 3 percent higher on Wednesday on the back of strong Chinese import data, while gold finished just below $1,150 an ounce on uncertainties about Greece's ability to repay its debt. COMEX June settles up $9.60 at $1,148.80 an ounce
Published 23 Apr, 2010 12:00am
Three Kashmiris get death penalty for 1996 Delhi blasts

Three Kashmiris get death penalty for 1996 Delhi blasts

An Indian court on Thursday imposed the death penalty on three Kashmiris found guilty of planting bombs in a crowded New Delhi market that killed 13 people in 1996. "Three convicts are being awarded the death penalty, which is subject to confirmation from
Published 23 Apr, 2010 12:00am
Platinum group at multi-month highs, gold steady

Platinum group at multi-month highs, gold steady

Platinum group metals (PGM) rose to their highest levels in about two years on Thursday, reversing earlier declines as investor buying emerged on expectations that healthy auto sales underline bullish fundamentals. Gold held steady as investors were wary
Published 23 Apr, 2010 12:00am
Seminar on 'Resuscitating Ravi: exploring possibilities'

Seminar on 'Resuscitating Ravi: exploring possibilities'

The Ravi has been transformed into the river of death, which is playing havoc with the health of citizens. As many as 42 species of fishes have become extinct from the river. Dumping of sacrificial meat, industrial and hospital waste on the river-beds hav
Published 23 Apr, 2010 12:00am
Goldman chief says US charges are political

Goldman chief says US charges are political

Goldman Sachs chief executive Lloyd Blankfein has attacked US fraud charges against his investment bank as politically motivated in calls to important clients, the Financial Times reported on Thursday. "He feels that the government is out to kill them, th
Published 23 Apr, 2010 12:00am
Japan's exports rise, led by solid Asia growth

Japan's exports rise, led by solid Asia growth

Japan's exports held firm in March in a sign that solid growth in Asia and a rebound in the US economy is fuelling Japan's export-driven recovery, boding well for first-quarter growth. Exports rose 43.5 percent from a year earlier, led by shipments of car
Published 23 Apr, 2010 12:00am
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