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| May 31, 2006 | Wednesday | Jumadi-ul-Awwal 3, 1427 |
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Govt subsidy fails to reach end consumers
KARACHI, May 30: President General Pervez Musharraf last Friday promised before the media in Islamabad to provide subsidy relief in the next budget to the general public groaning under the impact of a phenomenal price hike on all essential items.... 
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Share of farm sector in next PSDP raised
ISLAMABAD, May 30: The government has decided to allocate Rs11.8 billion, which is 30 per cent more than the current year’s figure, for agriculture sector under the Public Sector Development Programme (PSDP) for the next fiscal year....
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Chinese cement hits local market
KARACHI, May 30: The much-awaited Chinese cement has finally hit the local market and is available at a price difference of Rs30-50 per 50-kg bag compared to the locally produced cement....
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76,000 tons packed Chinese cement due next month: Importers worry about falling prices
KARACHI, May 30: A ship from China — Uthai Navee — carrying 530,000 cement bags of 50kg each is expected to reach the Karachi Port in the first week of next month....
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Textile exports to cross $10bn
ISLAMABAD, May 30: Exports of textile products will cross $10 billion mark by June this year mainly due to an increase in value-added textiles that have given a new dimension to the export....
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Dollar falls
LONDON, May 30: The dollar, after staging a brief rebound on the appointment of a new US Treasury Secretary, later fell against the euro here on Tuesday on what investors saw as a worrying decline in US consumer confidence....
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State Bank’s directive to check misuse of securities
KARACHI, May 30: The State Bank has stopped misuse of held-to-maturity securities by banks and DFIS and said that these securities could neither be sold nor used for borrowing....
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Two refund processing cells set up
ISLAMABAD, May 30: The Central Board of Revenue (CBR) has set up two centralised refund processing cells in Karachi and Lahore to process sales tax refund claims on export of the five zero-rated sector....
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Oil prices gain over $1 on Iran nuke crisis
LONDON, May 30: World oil prices leapt on Tuesday as traders tracked the latest developments over the Iranian nuclear crisis, while absorbing new data pointing to buoyant Chinese energy demand....
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Late buying helps index cut losses
KARACHI, May 30: Share market on Tuesday stayed weak but finished well above the session’s lows signalling that the worst may be over as consolidation forces have assumed the role of financial wound heelers....
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Prices shoot up on cotton market
KARACHI, May 30: Cotton market on Tuesday maintained a firm trend as ginners further raised their asking prices amid falling unsold stocks with them. An idea of snap price flare-up may...
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Rupee bounces back
KARACHI, May 30: The Pakistani rupee bounced back on Tuesday from a 19-month low against the dollar a day earlier but dealers said the rupee was expected to remain volatile in the near term....
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Karachi Port operations
KARACHI, May 30: Five vessels carrying containers and DAP fertiliser are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Port Qasim
KARACHI, May 30: Three ships with containers, diesel oil and edible oil were berthed at QICT, Fotco Terminal and MPT during the last 24 hours, said a PQA press release on Tuesday....
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European stocks plunge
LONDON, May 30: European stock exchanges posted sharp falls on Tuesday as investors, worried about oil prices, interest rates and consumer confidence in the United States, unleashed a wave of selling....
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Asian stocks drift lower
HONG KONG, May 30: Asian stocks drifted mostly lower on Tuesday with investors cautious amid a lack of leads from Wall Street, which was closed due to a public holiday....
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