MULTAN: Over 9.2 million bales of cotton reached ginneries across Pakistan by Nov 15, showing a 29 per cent increase in arrivals than last year, says a fortnightly report of the Pakistan Cotton Ginners Association (PCGA) issued on Wednesday. The figure shows an increase of 29.14 per cent against arrival of 7.17 million bales in the corresponding period last year. The increase was higher at 48.65 per cent in Sindh with arrivals recorded at around 3.37 million bales this year against 2.26 million bales in the corresponding period last year. Punjab showed an increase of 20.12 per cent with 5.89 million bales this year against 4.9 million bales in the same period last year. Out of the total arrivals, 8.4 million bales have been ginned and 7.84 million bales have been sold to textile millers and exporters, leaving an unsold stock of 1.4 million bales.
Expo Pakistan rescheduled
By our correspondent
KARACHI: The Trade Development Authority of Pakistan (TDAP) has postponed Expo Pakistan 2009 scheduled for December 3-5 and the event will now be held on February 26-28, 2010 in Karachi, said a TDAP press release on Wednesday. The TDAP postponed the exhibition on the recommendation of the Exhibition Committee, headed by Sindh Minister for Commerce and Industry M A Rauf Siddiqui and comprised 30 members representing trade and industry and federal as well as provincial government organisations. The committee after detailed deliberations in its last meeting held on November 13 recommended unanimously that Expo Pakistan 2009 should be rescheduled and be held in Feb 2010.
PQ activity
KARACHI: The Port Qasim handled 44,132 tons of cargo, comprising 25,407 tons of import and 18,725 tons of export cargo during last 24 hours ended 0800 hours on Wednesday. Berth occupancy was recorded at 73 per cent. Eight ships Nedlloyed Africa, Saudi Tabuk, Multan, Angella, Coral, Falconia, Alpha Harmony and Stena Chromos were loading/offloading containers, rice, cement, livestock, diesel oil and coal during the reported period. Three ships sailed out to sea during last 24 hours. Eight ships carrying container, cement, rape seeds, chemical, palm oil and furnace oil were expected to take berth at the Container Terminal, Multi Purpose Terminal, Liquid Terminal and FOTCO terminal on Wednesday, while three container ships are due on Friday.
Chocolate groups Hershey, Ferrero eye Cadbury
LONDON: US chocolate maker Hershey and Ferrero of Italy said on Wednesday they were mulling a potential counter-bid for British confectioner Cadbury, the object of a hostile offer from Kraft Foods. The news could re-mould the chocolate-making sector with a takeover costing more than 10.0 billion pounds (11.2 billion euros, $16.8 billion). The Wall Street Journal, citing unnamed sources familiar with the matter, had reported on Tuesday that Ferrero was in talks with Hershey over a potential joint bid. The pair said in separate statements to the London Stock Exchange on Wednesday that they were considering options regarding Cadbury.