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March 27, 2003 Thursday Muharram 23, 1424 No progress in WTO talks on farm deal GENEVA, March 26: WTO director general Supachai Panitchpakdi said on Wednesday the Iraq war threatened progress in the ongoing trade negotiations which faced a crucial deadline by end of the current... Iraq war hits hotel business KARACHI, March 26: Hotel business in the country is staring into an abyss as fears emanating from war drives away more and more of their customers. Over the last 15 days... Govt to announce support price for wheat, cotton ISLAMABAD, March 26: The government has decided to announce support price for only two major crops — wheat and cotton — owing to finance ministry’s stiff resistance to issue support prices... Egypt to import 4.5m tons of wheat ISLAMABAD, March 26: Egypt has shown its interest to import 4.5 million tons of wheat from Pakistan.... Rs840m TFCs to go on offer today KARACHI, March 26: Term Finance Certificates (TFC) worth Rs840 million are to go on offer on Thursday, which is understood to be the first ever public listed instrument to be issued... Sugar export to escalate prices in local market KARACHI, March 26: Export of 37,000 tons of sugar to Indonesia in next few months is going to cost Pakistan’s taxpayers Rs250 million plus a price escalation in the local market.... Berth for molasses export KARACHI, March 26: The Karachi Port Trust has commissioned another berth for the use of molasses export. An announcement to this effect was made by a spokesman for the KPT on... No war risk surcharge imposed KARACHI, March 26: The shipping companies and airlines have so far not levied any war risk insurance and fuel surcharge in view of Iraq war.... Fuel prices KATHMANDU, March 26: Nepal, citing higher international oil prices due to the Iraq war, has hiked the price of fuel products by up to 64.7 per cent effective from Wednesday, state-run... Institutional support pushes index up by 61 points KARACHI, March 26: Stocks on Wednesday staged a smart rally as institutional support figured prominently on the selected counters aided partly by reports of higher corporate earnings and an uprising against... SECP rejects trade bodies’ demand: Settlement of NPL ISLAMABAD, March 26: The Securities and Exchange Commission of Pakistan (SECP) has rejected the demand by chambers of commerce and industry and trade bodies for the settlement of non-performing loans (NPL)... Cotton market rules firm KARACHI, March 26: Cotton market on Wednesday maintained a firm outlook as ginners held on to their unsold positions anticipating further increase in prices.... Karachi Port operations KARACHI, March 26: Three ships carrying containers, DAP fertilizer and to load molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources.... Cotton futures exchange SHANGHAI, March 26: China’s Zhengzhou Commodity Exchange is likely to relaunch the trade of cotton futures in June or July, as the country faces increased competition from its WTO commitments, state... Homework to demutualize Lahore stock completed LAHORE, March 26: The Lahore Stock Exchange (LSE) is likely to become the country’s first “demutualized” market in the next few months, if not in weeks, as its management claims to... Habib Modaraba ratings LAHORE, March 26: Pakistan Credit Rating Agency (Pacra) has assigned long-term entity rating of “AA-” (double A minus) and short-term rating of “A1+” (single A one plus) to the First Habib... Commodity markets MULTAN, March 26: The following are Wednesday’s upcountry commodity market rates in rupees:... Dollar stabilizes LONDON, March 26: The dollar kept within recent ranges against major currencies on Wednesday, unmoved by the latest reports of US-led attacks on Baghdad while investors try to gauge the likely... Palm oil firms KUALA LUMPUR, March 26: Malaysian palm oil futures climbed at the end of a choppy day on Wednesday, lifted by refiner covering and a technical rebound, traders said.... Bundesbank’s annual profits FRANKFURT, March 26: Germany’s central bank, the Bundesbank, said on Wednesday its profits were cut in half last year to 5.43 billion euros ($5.78 billion)....

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