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January 09, 2008 Wednesday Zilhaj 29, 1428 Services sector leads registered companies KARACHI, Jan 8: The Securities and Exchange Commission of Pakistan (SECP) announced on Tuesday that a total of 836 companies had been registered during the final quarter of the calendar year... Four PSF makers told to file affidavits ISLAMABAD, Jan 8: The Competition Commission of Pakistan (CCP) has directed four leading Polyester Staple Fiber (PSF) manufacturers to file undertakings / affidavits that they have not organised themselves in any...   Stocks recover overnight losses KARACHI, Jan 8: Stocks on Tuesday staged a snap rally and rose from the overnight lower levels on active short-covering signalling that investors have decided to go along the positive market fundamentals rather than the current irritants.... Gold surges to all-time high KARACHI, Jan 8: Gold prices surged to an all-time high when trading resumed on Tuesday in the local market.... $2.29bn aid package TOKYO, Jan 8: Japan is likely to announce a $2.29bn aid package to improve infrastructure in Africa, where it is competing with China for influence, Kyodo news agency said on Tuesday, citing government sources.... Rupee remains under pressure KARACHI, Jan 8: Currency dealers on Tuesday said the ‘exchange game’ had gone out of the State Bank’s control as the central bank was avoiding offering its reserves to grab the exchange rate imbalances.... Pakistan to head Saarc trade body NEW DELHI, Jan 8: Presidentship of Saarc Chamber of Commerce and Industry (SCCI), an apex orgasnisation in the region, would go to Pakistan for a two-year term during its executive committee meeting to be held here on Jan 13.... TDAP to resolve rice exporters’ issues KARACHI, Jan 8: The Trade Development Authority of Pakistan (TDAP) has assured rice exporters to resolve their problems pertaining to shipping and price cap imposed by some countries and banking issues related to exports to Iran.... Dollar falls on US economic worries LONDON, Jan 8: The dollar remained under pressure on Tuesday after the latest US housing data and as players looked ahead to key eurozone and British interest rate decisions later this week, dealers said.... Sovereign funds PARIS, Jan 8: President Nicolas Sarkozy vowed on Tuesday to protect French businesses from sovereign wealth funds and private speculators and urged a state bank to roll up its sleeves and help France defend its industrial interests.... Fresh hike in ghee, oil prices on the cards KARACHI, Jan 8: While consumers are already hard-pressed over rising wheat flour prices, they will have to sustain a further pressure on their income at the start of the new year... Canada warns China with WTO action OTTAWA, Jan 8: Canada’s Trade Minister David Emerson said on Tuesday he is ready to go to the World Trade Organisation to try to force China to allow its citizens to visit his country, if the issue is not resolved soon.... Oil prices rebound on supply concerns LONDON, Jan 8: Oil prices jumped more than $2 on Tuesday, reversing three days of losses as traders bet on a further falls to energy inventories in key consumer the United States.... TCP tender for sugar KARACHI, Jan 8: Trading Corporation of Pakistan (TCP) has floated a tender for the purchase of 50,000 tons of refined sugar from local mills.... Cotton hits fresh peak on panic buying KARACHI, Jan 8: Cotton prices on Tuesday hit 15-year peak level of Rs3,400 per maund followed by panic buying by mills and spinners owing to pressure on the floating stock as some of the leading ginners held back their unsold stocks.... Nobel economists hired for French happiness index PARIS, Jan 8: French President Nicolas Sarkozy, struggling to honour promises on growth and living standards, said on Tuesday that two Nobel economists would work on a happiness index for inclusion in national output data.... European stocks higher LONDON, Jan 8: Europe’s leading exchanges ended higher on Tuesday, driven by gains in the mining sector and a solid start to trading on Wall Street, dealers said.... China launches crackdown on plastic bags BEIJING, Jan 8: China launched a surprise crackdown on plastic bags on Tuesday, banning production of ultra-thin bags and forbidding its supermarkets and shops from handing out free carriers from June 1.... Karachi Port operations KARACHI, Jan 8: Ten ships carrying containers and to load molasses and cement are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Port Qasim KARACHI, Jan 8: Three ships carrying containers and chemicals arrived at the outer anchorage during the last 24 hours, said a PQA press release issued on Tuesday.... Dubai plans world’s largest Islamic bank DUBAI, Jan 8: Dubai plans to create the world’s largest Islamic bank within five years, spending as much as $1 billion on individual acquisitions in countries as far apart as Indonesia, Egypt and Britain, Noor Islamic Bank said.Noor,... BD tea rates rise CHITTAGONG, Jan 8: The average price of Bangladesh teas rose 4.35 per cent to 89.66 taka ($1.30) per kg at the weekly auction on Tuesday, brokers said.... Elected KARACHI, Jan 8: Anees Motiwala and Abdul Ghaffar Essa have been elected unopposed chairman (regional) and vice chairman of All-Pakistan Textile Processing Mills Association (APTPMA) for the year 2008.... Rating KARACHI, Jan 8: The JCR VIS has reaffirmed the medium-to-long-term entity rating of ‘Single A’ and short-term rating of A-2 assigned to the Indus Dyeing and Manufacturing Company.... Asian shares close mixed HONG KONG, Jan 8: Asian shares closed mixed on Tuesday as investors struggled for direction but Indian and Malaysian stocks continued a good recent run to hit record highs.... Saudi money supply up in Nov despite lending curbs RIYADH, Jan 8: Money supply growth in Saudi Arabia edged up in November even after the central bank tightened lending rules to prevent lower borrowing costs from fuelling inflation.... Palm oil prices lower KUALA LUMPUR, Jan 8: Malaysian crude palm oil futures fell almost 1 per cent on Tuesday, retreating from record highs, as investors booked profits on weaker crude markets.... Karachi market rates KARACHI, Jan 8: The following were Tuesday’s commodity market rates in rupees.... HK gold HONG KONG, Jan 8: Hong Kong gold prices higher on Tuesday at US$860.40-860.90 an ounce, up from Monday’s close of 856.50-857.00 dollars.—AFP...

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