Business Recorder articles from February 2002

Business Recorder archives from February 2002

Milk powder rates.
February 28, 2002... Byline: RECORDER REPORT =================================== MILK POWDER =================================== SKIMMED (per bag of 25 KG) Cow Boy 2500.00 Haleeb ...

No evidence of polluted water supply from Hub.
February 28, 2002... KARACHI : A report about supply of polluted water from Hub Dam canal on the occasion of Eid-ul-Azha has been presented to City Nazim. According to the report no evidence was found around Hub Canal which may prove that an offal was washed...

Raw rubber rates.
February 28, 2002... Byline: RECORDER REPORT =================================== RAW RUBBER =================================== (Per Pound) CEYLON RSSV 24.00 Pale Crape...

Wool and hair rates.
February 28, 2002... Byline: RECORDER REPORT =================================== WOOL =================================== (Per 40 Kg) Pak Superior White 1350 to 1450.00 Pak...

Roche posts 57 percent drop in profit in 2001.
February 28, 2002... BASEL : Swiss pharmaceutical group Roche announced on Wednesday a 57-percent drop in its net profit last year to 3.7 billion Swiss francs (2.5 billion euros, 2.2 billion dollars). The company blamed the tall on restructuring charges and...

Pentagon to set up military commissions for terrorism trials.
February 28, 2002... WASHINGTON : The Pentagon will soon be ready to set up military Commissions to try prisoners captured during the war on terrorism, US Defence Secretary Donald Rumsfeld said on Tuesday, signalling that weeks of legal uncertainty for detainees...

Egypt warns Israel against 'playing with words' over peace overture.
February 28, 2002... CAIRO : Egyptian Foreign Minister Ahmed Maher warned Israel Tuesday night against "playing with words" over the peace overture recently floated by Saudi Crown Prince Abdullah bin Abdul Aziz. "If Israel tries to cheat and to concentrate on...

Putin, Blair discuss Russia-Nato relations.
February 28, 2002... MOSCOW : Russian President Vladimir Putin and British Prime Minister Tony Blair discussed Russia-Nato relations and the situation in Afghanistan in a telephone call late Tuesday, the gremlin said in a statement. During the 30-minute...

Spot Dollar Rates.
February 28, 2002... ================================================ Ex Inter-Bank Rate PKR vs USD ================================================ Buying Selling HIGH LOW CLOSE ...

Karachi Shipping Intelligence.
February 28, 2002... Byline: RECORDER REPORT =============================================================================== Berth Vessels' Working Agent Berthing No Along side ...

Crescent Capital Management (Pvt) Ltd: Daily Forex Report.
February 28, 2002... Byline: RECORDER REPORT KARACHI : The Interbank Forex Market on Wednesday remained nominal active. The rupee recovered around 5 paisa against the greenback as compared to the previous day's levels. In the initial hours, bids and...

London Inter-Bank Offered Rates.
February 28, 2002... ====================================================== Rates at 11:00 London time Wednesday February 27, 2002 ====================================================== USD GBP CHF EUR JPY ...

Open market rates of foreign currencies.
February 28, 2002... Byline: RECORDER REPORT ============================================================================= BUYING SELLING FC BUYING SELLING BUYING ...

Clearing Schedule for T+3 System.
February 28, 2002... Byline: RECORDER REPORT =========================================================== CLEARING SCHEDULE FOR T+3 SYSTEM FOR THE MONTHS OF FEBRUARY/MARCH 2002 ...

Companies under suspension.
February 28, 2002... Byline: RECORDER REPORT =============================================================================== COMPANY Date of COMPANY Date of Suspension...

Dividend/Bonus Announcements.
February 28, 2002... Byline: RECORDER REPORT =================================================================================== FOR THE ANNUAL CLOSURE OF YEAR...

Board Meetings.
February 28, 2002... =============================================================================== COMPANY SCHEDULED ON TIME TO CONSIDER ...

Board Meetings.
February 28, 2002... =========================================================== Name of Company Date Time =========================================================== Nagina Cotton Mills 28.02.2002 ...

Despatch of dividend warrants.
February 28, 2002... ============================================================================= Company Year Ended/Ending Dividend/Bonus Despatched on =============================================================================...

Cross Transactions.
February 28, 2002... =================================================================== FINANCIAL INSTITUTIONS =================================================================== Code Nos. Turnover of Shares Company Rate ...

UTP Unit Rates.
February 28, 2002... Byline: RECORDER REPORT ============================= Offer Prices 6023.00 Redemption Prices 5904.00 ============================= KARACHI : UTP Unit Rates in Rupees on Wednesday (February 27,...

CU-Managed Fund Rates.
February 28, 2002... Byline: RECORDER REPORT ============================= Offer Price 195.50 Bid Price 185.72 ============================= KARACHI : CU-Managed Fund Rates on Wednesday (February 27,...

NIT Unit Prices.
February 28, 2002... Byline: RECORDER REPORT ============================= Sale Price 11.65 Repurchase Price 11.10 ============================= KARACHI : NIT Unit Prices on Wednesday (February 27, 2002).

Currency Notes: Exchange Rates.
February 28, 2002... ============================================= AUTHORISED DEALERS' RATES FOR CURRENCY NOTES ============================================= SELLING COUNTRY BUYING ...

Interest rates on old and incremental foreign currency deposits.
February 28, 2002... ============================================================= INTEREST RATES ON OLD & INCREMENTAL FC DEPOSITS ============================================================= US DOLLAR POUND ST DEUTCH MARK...

Goodbye, Ambassador Lu Shulin.
February 28, 2002... Byline: SYED ALI NAWAZ GILANI ARTICLE : It is always hard to part ways with friends who are irreplaceable. Although, life is a journey having countless junctions and on the way to the ultimate destination, one interacts with a number of...

Pakistan Refinery declares interim dividend.
February 28, 2002... KARACHI : Pakistan Refinery Limited (PRL) has registered a basic earning of Rs 2.34 per share for the six months ended on December 31, 2001 as compared to Rs 1.56 per share earned during the corresponding period last year. Chairman of...

Pak-Nepal trade ties.
February 28, 2002... EDITORIAL : According to a news report in the Business Recorder the other day, Nepal has approached the government of Pakistan for the revival of the credit facility of one million dollars for the purchase of plant and machinery from...

'Wapda revitalised with army assistance'.
February 28, 2002... Byline: MOHAMMAD SAFIR TARAR ARTICLE : The army management completed three years of assistance to Wapda in January 2002. During this comparatively short period, many a milestone has been covered achieving a lot of improvement in various...

Proposal to supply water to Sindh from Tarbela rejected.
February 28, 2002... ISLAMABAD : Water and Power Development Authority (Wapda) and Indus System River Authority (Irsa) have rejected outright the supply of water to Sindh province from dead level at Tarbela. Official sources told NNI on Wednesday that Sindh...

Indian minister invited to 'News Night'.
February 28, 2002... ISLAMABAD : The Indian Information Minister, Ms Sushma Swaraj has been invited to participate in the Pakistan Television "News Night" programme. Her interview will be telecast on March 7 on the eve of her visit to Pakistan. According to...

Pakistan National Shipping Corporation earns over Rs 250 million pre-tax profit.
February 28, 2002... KARACHI : Pakistan National Shipping Corporation (PNSC) has achieved a net pre-tax profit of Rs 250.12 million as against a loss of Rs 309.17 million in the corresponding half year ending on December 31, 2000. The operating profit for...

Sugarcane growers told to sow recommended varieties.
February 28, 2002... Byline: RECORDER REPORT LAHORE : Punjab Agriculture Department has advised the sugarcane growers to plant only recommended varieties and ensure completion of sowing by mid March. According to agriculture experts, for early...

Cut in export refinance rate hailed.
February 28, 2002... Byline: RECORDER REPORTER LAHORE : The Rice Exporters Association of Pakistan (REAP) has lauded the announcement of the Governor, State Bank of Pakistan (SBO), regarding making further reduction in the rates of export refinance under the...

Lahore Bar president to boycott judges oath-taking ceremony: flays building of school on court premises.
February 28, 2002... Byline: RECORDER REPORT LAHORE : Muzammil Khan, President, Lahore High Court Bar Association (LHCBA), has announced to boycott the oath-taking ceremony of the newly-appointed five additional judges of Lahore High Court (LHC). While...

Pakistan Law Commission launches public awareness plan.
February 28, 2002... ISLAMABAD : Pakistan Law Commission (PLC) has launched a 'Public Awareness Scheme' under which write-ups are prepared on issues of concern to the general public and published through the media for dissemination of information with a view to...

Babri Mosque: Lahore Bar member requests Muslim countries to exert pressure on India.
February 28, 2002... Byline: RECORDER REPORT LAHORE : A member of the Lahore High Court Bar Association (LHCBA) MD Tahir has sent letters to heads of all the Islamic countries, requesting them to exert pressure on the Indian government to prevent Hindus from...

Investment climate termed good.
February 28, 2002... Byline: RECORDER REPORT KARACHI : Miss Goe Ing, Vice President of Junior Chamber Intonation, Malaysia has termed the investment climate of Pakistan as good for making investment in this country. Speaking at a meeting with A.Q....

Brief Recordings about SALFI TEXTILE MILLS LIMITED (Textile Spinning) - Year Ended 30-09-2001.
February 28, 2002... Byline: SCANNER OVERVIEW : During the year under review the company has attained growth in sales, production and pre-tax profit. This is significant as the management has been consistently in pursuit of better ways of working and...

Dollar's rate in inter-bank market.
February 28, 2002... Byline: RECORDER REPORT ============================== Buying Rs 60.10 Selling Rs 60.12 ============================== KARACHI : Inter-bank closing rates for dollar on Wednesday

Pakistan rupee gains 4 paisa in interbank market.
February 28, 2002... KARACHI : The rupee posted a four paisa gain against the dollar in the inter-bank market on Wednesday, for the first time in the week, at Rs 60.10 and Rs 60.12 for buying and selling, respectively. According to market sources, the gain...

Kerb buying and selling rate of US dollar.
February 28, 2002... Byline: RECORDER REPORT ================================ Kerb buying($) Rs 59.80 Kerb selling($) Rs 59.90 ================================ KARACHI : Dollar buying and selling rate in the...

Hides and skin rates.
February 28, 2002... Byline: RECORDER REPORT =================================== HIDES =================================== (Wet Salted Per Piece) ----------------------------------- (i) ...

Rates of spices and other allied commodities.
February 28, 2002... Byline: RECORDER REPORT =================================== (Per 40 KG) White pepper 4550.00 Singapore 4500.00 Ceylon 4300.00 ...

Faisalabad yarn and fibre prices.
February 28, 2002... Byline: RECORDER REPORT ================================== 6/S Cone ---------------------------------- Crescent 205.00 Neli-Bar 310.00 7/S Cone Nishat ...

Lahore Grain Market Rates.
February 28, 2002... =================================== INDIGENOUS Per 100 KILOGRAMS Sugar 2130 to 2140 Gur 1350 to 1750 Shakkar 1850 to 2200 Wheat ...

Lahore Paper Market Rates.
February 28, 2002... =================================== Imported (Germany, and Indonesia) =================================== Per ream (500 sheets) 20 X 30 80 1400 23 X 36 80 1925 ...

Grain market rates.
February 28, 2002... Byline: RECORDER REPORT =================================== RAPESEED Nawabshah - Dadulane 620 to 625.00 Mirpurlane 630 to 635.00 Cakes 250 to...

Rates of dry fruit.
February 28, 2002... Byline: RECORDER REPORT =================================== DRY FRUITS =================================== Katha 2000.00 Almond (Girdi) 2100.00 Almond (Irani) ...

Karachi chemicals and dyes market rates.
February 28, 2002... Byline: RECORDER REPORT =================================== DYES =================================== NAPHTHOLS CHINA (Per Pound) CHINA AS 100 percent 120.00 ...

Karachi Yarn Market Rates.
February 28, 2002... Byline: RECORDER REPORT ================================== CONES CARDED ================================== 10/1 Baig (Magic) 300.00 Dewan 350.00 16/1 Moro ...

Poultry rates.
February 28, 2002... Byline: RECORDER REPORT KARACHI : Wholesale and retail poultry rates for Wednesday and Thursday. Wednesday -- Eggs: Rs 990 - 995 per 30 dozen; Broiler Birds (live): Rs 52 per kilogram; Cull Birds (live): Rs 26 per kilo. ...

Modest trading in cotton; TCP entering contracts with ginners.
February 28, 2002... KARACHI : Modest trading was witnessed on the cotton market on Wednesday where emerging favourable scenario was felt, relevant sources said. Slight improvement in textile products has been reported and ginners' plea for bailing them out is...

Cottonseed, oilcake futures rise.
February 28, 2002... Byline: RECORDER REPORT KARACHI : Both futures were higher on the forward cottonseed oilcake market amid low business. The ruling March vaida opened unchanged at Rs 369.20, and rose by 80 paisa to claim to be the highest at Rs 370....

Currency values in term of Special Drawing Rights.
February 28, 2002... ====================================================================================== February 27, 2002 ====================================================================================== ...

Bullion Rates.
February 28, 2002... ================================== KARACHI Gold Tezabi N/R Silver Tezabi N/R LAHORE Gold Tezabi 5851.00 Gold (22-CT) 5363.00 Gold (21-CT) ...

Export Promotion Bureau's performance at foreign trade fairs.
February 28, 2002... LETTER : Razak Dawood is the first commerce minister to publicly acknowledge what the exporters have been saying for years. There is everything wrong in the EPB, especially the manner in which it goes about participating in trade fairs...

For a boost to exports.
February 28, 2002... EDITORIAL : In keeping with its recently announced policy of reviewing the mark-up rate on export finance every month, the State Bank of Pakistan effected one percent reduction in the mark-up rate on export re-finance to 6 percent for the...

No significant price changes on Jodia Bazar.
February 28, 2002... Byline: RECORDER REPORT KARACHI : Significant changes were a few on the Jodia Bazar as most of the trading was done at the unchanged level. Kirana items: Black pepper from Singapore up Rs 50 to Rs 4550, small cardamom down Rs 1000 to...

Steady conditions on Karachi grain markets.
February 28, 2002... Byline: RECORDER REPORT KARACHI : Steady conditions were seen on the seed and grain wholesale markets on Wednesday with variations only in rice and seed sectors. On the rice wholeside basmati new inferior was up Rs 2150 and super...

Driving with care.
February 28, 2002... LETTER : Recently I have been driving my car in Islamabad as I used to drive it in UK -with care, thanks to 'the zero tolerance strategy' of Islamabad police. Let us hope the other metropolitan police follow suit. I believe discipline on...

Security arrangements streamlined for worship places.
February 28, 2002... KARACHI : The security arrangements in Karachi have been streamlined for the various prayers' centres in the city including the mosques and special vigilance will be kept at all the mosques where Friday congregations will be held on March 1,...

INSIGHT: Karachi stock market changes direction.
February 28, 2002... Byline: AMJAD NAZIR KARACHI : The market well succeeded to change its direction on Wednesday due to fresh buying in trend setters. During first two hours, PSO was the only scrip which struggled to keep the market in positive column. ...

Activity at Karachi, Bin Qasim Ports.
February 28, 2002... Byline: RECORDER REPORT KARACHI : The Karachi Port handled 47,047 tonnes cargo including 36,310 tonnes import and 10,737 tonnes export cargo during last 24 hours ending at 0700 hours on Wednesday. The cargo comprised of 47,047 tonnes...

Judges' salaries increased.
February 28, 2002... ISLAMABAD : The President on Wednesday issued Order No 2 of 2002 ensuing to enhance the monthly wages of the Chief Justice of Pakistan, Judges of the Supreme Court, Chief Justices and Judges of the High Courts with effect from December 1,...

Election Commission Order 2002 amended.
February 28, 2002... ISLAMABAD : The Chief Executive on Wednesday issued an Order to amend the Election Commission Order 2002 that would be deemed to have taken effect from January 16, 2002. The Order reads as: "CHIEF EXECUTIVES ORDER NO 4 OF 2002. ...

The Karachi Business Declaration.
February 28, 2002... KARACHI : The International Chamber of Commerce (ICC) held a Regional Foreign Direct Investment Conference here recently and adopted a formal declaration. The declaration reads: World Business, as represented by the International...

Conduct of General Elections Order 2002 issued.
February 28, 2002... ISLAMABAD : President and Chief Executive General Pervez Musharraf on Wednesday promulgated the Conduct of General Elections Order 2002, which extends to the whole of Pakistan and comes into force at once. Following is the text of the...

Sindh Governor resents unhygienic conditions at North Karachi industrial estate.
February 28, 2002... Byline: RECORDER REPORT KARACHI : The governor of Sindh, Muhammad Mian Soomro has asked town administration, managing director site limited and SESSI to work closely with North Karachi Association of Trade and Industry (NKATI) and make...

Petition for disqualification of Musharraf filed.
February 28, 2002... Byline: RECORDER REPORT LAHORE : A.K. Dogar, President, Pakistan Lawyers Forum, on Wednesday filed a petition before the Lahore High Court (LHC), praying for disqualification of the President General Pervez Musharraf from being elected...

Government to modernise ports, shipping sector: minister.
February 28, 2002... ISLAMABAD : The Minister for Communications and Railways Lieutenant General Jawed Ashraf Qazi (Retd) on Wednesday said the government would ensure all possible steps to modernise the ports and shipping sector. Presiding over a high level...

"Pakistan's economy to stabilise in near future".
February 28, 2002... Byline: RECORDER REPORT LAHORE : Former Finance Minister and a PML leader Sartaj Aziz has expressed the hope that Pakistan, with 1.8 billion dollars in foreign aid, already deposited in the kitty, would get a much-needed jump start and...

President issues order for appointment of provincial ministers, oath of office.
February 28, 2002... ISLAMABAD : President General Pervez Musharraf on Wednesday issued Chief Executive's Order No 5 of 2002 to amend the Appointment of Provincial Ministers and Oath of Office Order 1999. According to the amendment in Schedule, Chief...

National Security Council Order 2001 amended.
February 28, 2002... ISLAMABAD : President General Pervez Musharraf on Wednesday promulgated Chief Executive's Order No 6 of 2002 to amend the National Security Council Order 2001. According to the amendment in the Schedule, Chief Executive's Order No 5 of...

President Musharraf raises his salary.
February 28, 2002... ISLAMABAD : The President on Wednesday promulgated an Ordinance amending President's Salary, Allowances and Privileges Act 1975. It comes into force with effect from the day of May 2001 and will be called the President's Salary,...

International Narcotics Control Board concerned over rising e-sales of narcotics.
February 28, 2002... Byline: RECORDER REPORT ISLAMABAD : The international drug fighters have expressed grave concern over the "great challenges" to their crusade that globalisation and new technologies pose, and called upon governments to act and stamp down...

Foreign artists to perform in festival.
February 28, 2002... Byline: RECORDER REPORT LAHORE : With a total cost of around six to seven million rupees, 'International Performing Arts Festival' is being arranged in the provincial metropolis from March 5, 2002. The festival will bring together...

War no solution: National Kashmir Committee chairman.
February 28, 2002... Byline: RECORDER REPORT ISLAMABAD : Abdul Qayyum Khan, the veteran Kashmiri leader and chairman of National Kashmir Committee, has repudiated the suggestion that, by saying 'Pakistan first', President Musharraf had dropped the Kashmir...

Minorities rights fully safeguarded in Pakistan: minister.
February 28, 2002... Byline: RECORDER REPORT LAHORE : Punjab Revenue Minister, Malik Muhammad Aslam Khan, has said that rights of all religious minorities were being fully safeguarded and cordial relations and complete harmony exists among the followers of...

'Pakistan Peoples Party to contest elections at all costs'.
February 28, 2002... Byline: RECORDER REPORT HYDERABAD : The Pakistan Peoples Party (PPP), here on Wednesday, decided to contest the general elections, scheduled for October this year, at all costs and with full concentration. The party has also decided...

'Government to eliminate sectarianism'.
February 28, 2002... ISLAMABAD : Secretary Ministry of Interior Tasnim Noorani has said, the government will take more steps to eliminate sectarianism from the country. Talking to BBC Radio, he said, the government machinery would come into action and take...

Rao made People's Party Human Rights cell chief.
February 28, 2002... Byline: RECORDER REPORT LAHORE : Rao Nasim Hashim a senior member of Pakistan People's Party has been nominated as Chief Co-ordinator of Human Rights Cell of the party by high command. Khalid Ahmed Khan Kharal, Secretary General of...

Export collectorate adopts open-door policy.
February 28, 2002... Byline: RECORDER REPORT KARACHI : The Collectorate of Customs Exports has adopted an open door policy, calling for free and unhindered access to Customs officials. Sources in the collectorate said the step has been taken in...

National Logistic Cell to exploit Afghanistan-bound cargo handling opportunities.
February 28, 2002... KARACHI : National Logistic Cell (NLC) has chalked out a plan to exploit all opportunities of cargo handling and movement of relief goods to Afghanistan, said Director General of NLC Major General Syed Haider Jawed here on Wednesday. ...