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| May 20, 2008 | Tuesday | Jamadi-ul-Awwal 14, 1429 |
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Mills want wheat from govt stocks
KARACHI, May 19: As four to 4.5 million tons of wheat worth Rs9 billion is in private hands, a tussle between the food establishment and market forces, represented by millers, traders and brokers, appears to have entered a new phase.... 
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Sugar mills told to pay Rs10bn to growers
KARACHI, May 19: Sugar mills in Sindh have been asked to pay outstanding dues worth Rs10 billion to growers within a week, or face legal action....
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Oil price flirts with new high
LONDON, May 19: The price of crude oil came close to reaching a new record high on Monday as the market shrugged off higher output from Saudi Arabia, traders said....
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Credit flow to farm sector rises by 35pc
KARACHI, May 19: Credit flows to agriculture witnessed a tremendous rise of 35 per cent during in the first 10 months (July-April) of the current fiscal year, but the sector is yet to improve its performance....
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Competition Commission in financial blues
ISLAMABAD, May 19: The Competition Commission of Pakistan (CCP), which for the first time has challenged the apparent cartel-like behaviour of banks and cement industry, is in financial blues and may become vulnerable to political interventions....
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Work to reduce sulphur content in diesel begins
KARACHI, May 19: All the refineries have initiated work on reducing sulphur content in diesel to 0.05 per cent in order to comply with Euro-II specification aimed at reducing air pollution caused by vehicles....
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KESC owners in secret deal for stake sale
KARACHI, May 18: The off-shore owners of the privatised Karachi Electric Supply Company are secretly negotiating a deal with a Dubai-based investor for offering right shares equivalent to 50 per cent of their holding in the utility, sources said....
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Customs revenue up by 7.7pc
KARACHI, May 19: The collectorate of customs (Preventive) collected Rs9.116 billion during first ten months (July-April) of current fiscal year, showing a growth of 7.72 per cent over Rs8.463...
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Punjab fixes rice target
MULTAN, May 19: The Punjab Agriculture Extension Department has fixed the target of rice crop at 32,88,800 tons for 2008-09 in 35 districts of the province that is equal to the target of last year....
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Dollar gains
LONDON, May 19: The dollar turned sharply stronger against the euro here on Monday as the US suggested that the slowdown in the domestic economy might be limited and not as bad as many have feared, dealers said....
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Trade with Egypt
SHARM EL SHEIKH, May 19: Pakistan and Egypt on Monday agreed to encourage their private sector to promote bilateral trade and economic relations....
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Stocks plunge by 311 points
KARACHI, May 19: The KSE 100-share index on Monday took a massive plunge of 2.19 per cent or 311.35 points, wiping out Rs94 billion from the market capital on panic selling...
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Cotton trading resumes on steady note
KARACHI, May 19: Trading resumed on a quietly steady note on the cotton market on Monday as buyers remained conspicuous by their absence despite the fact that some of the ginners lowered their asking prices....
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Karachi Port operations
KARACHI, May 19: Seven ships carrying rock phosphate, chemicals and containers are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Port Qasim
KARACHI, May 19: Three ships carrying containers, palm oil and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Monday....
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Gold above $900
LONDON, May 19: Gold extended gains to hit its highest level in nearly a month above $900 an ounce on Monday on the back of speculative buying as oil held near record high, raising fears of inflation....
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Asian stocks close mostly higher
HONG KONG, May 19: Asian stocks closed mostly higher on Monday with the Japanese market jumping to a four-month high and Taiwanese shares rising sharply, continuing a period of better regional investor sentiment....
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Palm oil prices up
JAKARTA, May 19: Indonesian palm oil prices were slightly higher on Monday, despite the absence of the Malaysian futures market, which was closed for a holiday, and with major palm oil buyers such as India also on vacation....
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Karachi market rates
KARACHI, May 19: The following were Monday commodity market rates in rupees....
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