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Print - 2005-02-28
Cairo stocks up on new voting rules for president

Cairo stocks up on new voting rules for president

Egyptian stocks rose to a record closing high in busy trade on Sunday, boosted by news that more than one candidate could contest Egypt's presidential elections, traders said. President Hosni Mubarak said on Saturday that elections for the presidency this
Published 28 Feb, 2005 12:00am
Saudi stocks set new high on oil, first quarter seen good

Saudi stocks set new high on oil, first quarter seen good

Saudi shares climbed to a new record high on Sunday, driven by surging oil prices and expectations of strong first quarter corporate results, analysts said. The official share index closed its morning session at 8,981 points, a gain of 0.53 percent on Sat
Published 28 Feb, 2005 12:00am
Tokyo shares seen on upward march

Tokyo shares seen on upward march

Japanese stocks are set to rise in this week as domestic data should bring some good news for the growth outlook and boost investor sentiment after the easing of US inflation jitters, analysts said Friday. They said foreign investors are likely to continu
Published 28 Feb, 2005 12:00am
Asian currencies generally stronger against dollar

Asian currencies generally stronger against dollar

Asian currencies were generally stronger against the US dollar last week with the yen firming slightly over lingering US deficit concerns, and the South Korean Won briefly hitting an 87-month high.
Published 28 Feb, 2005 12:00am
Indonesian market to undergo further correction

Indonesian market to undergo further correction

Indonesian shares are expected to undergo further correction in this week due to continued profit-taking amid uncertainty surrounding the government's plans to increase fuel prices, an analyst said on Friday. "Correction will continue until the government
Published 28 Feb, 2005 12:00am
Profit-taking expected to hit Thai stock market

Profit-taking expected to hit Thai stock market

Profit-taking was expected to hit the Thai stock market this week as it faces negative factors both at home and abroad, analysts said. "There is a chance of profit-taking, particularly in the energy sector in which many stocks have made significant gains
Published 28 Feb, 2005 12:00am
Corporate results may push Malaysian market higher

Corporate results may push Malaysian market higher

A series of positive corporate results indicate Malaysia's stock market could experience healthy trading with the key index moving higher this week, an analyst said. "The results will prompt investors to realign their portfolios and this will also help to
Published 28 Feb, 2005 12:00am
Taipei shares to continue firmer

Taipei shares to continue firmer

Taiwan share prices are expected to continue firmer this week, building on the positive tone created by President Chen Shui-bian's more conciliatory stand on relations with China, dealers said. They said increased foreign investor interest has also booste
Published 28 Feb, 2005 12:00am
London stock market set for more profit taking week

London stock market set for more profit taking week

British investors would take likely profits this week as the stock market focus switched to the banking sector, analysts said. The FTSE 100 index of leading London shares closed at 5,006.8 points on Friday, down 50.4 points, or 0.99 percent, over the week
Published 28 Feb, 2005 12:00am
Singapore shares seen to move in narrow range

Singapore shares seen to move in narrow range

Singapore share prices are expected to move in a narrow range this week, with concerns over high oil prices expected to hang over trading sentiment, traders said. Investors are also expected to seek clues from the performance of US stocks and from Singapo
Published 28 Feb, 2005 12:00am
South Korean stocks to trade firmer

South Korean stocks to trade firmer

South Korean share prices are expected to make further ground in this week with sentiment boosted by hopes for a pick-up in the economy, dealers said. Higher oil prices could limit market gains but the demand base is strong because mutual funds and instit
Published 28 Feb, 2005 12:00am
Chicago PMI and jobs to focus US market direction

Chicago PMI and jobs to focus US market direction

US stock investors will look this week at the Chicago purchasing managers' index and the February payrolls report to assess the economy's health, strategists and traders said. Tensions in the Middle East also will get renewed attention on Wall Street afte
Published 28 Feb, 2005 12:00am
Finnish minister says local tax change an option

Finnish minister says local tax change an option

A progressive tax scale for municipalities is an option that should be considered, said Finland's Finance Minister Antti Kalliomaki in an interview published on Sunday. "It should be discussed, it should be on the table," Kalliomaki said to newspapers Tur
Published 28 Feb, 2005 12:00am
PNB sells $88 million assets to Bank of America consortium

PNB sells $88 million assets to Bank of America consortium

Philippine National Bank (PNB), the country's fourth-largest listed private lender, said on Sunday it had sold 4.8 billion pesos ($88 million) of non-performing assets to a consortium of Bank of America Corp and Marathon Asset Management. PNB, owned by to
Published 28 Feb, 2005 12:00am
World's longest land tunnel completed in Japan

World's longest land tunnel completed in Japan

The world's longest land tunnel was completed in Japan Sunday when the last bedrock was blasted away to open the 26.5-kilometer (16.5-miles) route, developers said. However the railway tunnel in the Hakkoda mountains, some 550 kilometers north of Tokyo, w
Published 28 Feb, 2005 12:00am
Shareholders want Rothschild to replace Deutsche Boerse chairman

Shareholders want Rothschild to replace Deutsche Boerse chairman

Rebel Deutsche Boerse shareholders are lining up veteran banker Jacob Rothschild to replace Rolf Breuer as chairman of the Frankfurt stock market operator, newspapers here said Sunday. Atticus Capital, a US-based hedge fund which has a five percent-plus s
Published 28 Feb, 2005 12:00am
ECB tipped to hold interest rates steady

ECB tipped to hold interest rates steady

The European Central Bank will keep its interest rates unchanged for the 21st month in succession at next Thursday's governing council meeting and is unlikely to start tightening monetary policy until later in the year, according to a poll of 30 economist
Published 28 Feb, 2005 12:00am
Indian budget to balance reform and pragmatism

Indian budget to balance reform and pragmatism

India's government is expected to outline broad reforms aimed at sustainable economic growth in Monday's budget but it will have to tread carefully on labour laws and privatisation to keep its communist allies on side. Elected last year after a surprise t
Published 28 Feb, 2005 12:00am
EU businesses gird for Internet domain war

EU businesses gird for Internet domain war

Europe is about to become an Internet fixture with the launch of its own extension - the .eu domain - and businesses are girding for the battle to bear the precious two letters. While the date for the attribution of the new extension has not yet been set,
Published 28 Feb, 2005 12:00am
Asian markets still on guard against fraud after Barings saga

Asian markets still on guard against fraud after Barings saga

Ten years after a young trader in Singapore ruined Britain's oldest merchant bank, Asian financial markets are now protected by stronger safeguards against fraud but firms with poor internal controls remain vulnerable, analysts said. Technological advance
Published 28 Feb, 2005 12:00am
Iran GDP growth falls further behind target

Iran GDP growth falls further behind target

Iran's economic growth rate fell further behind target in the second quarter of the current Iranian year, but high oil revenues swelled its trade surplus and unemployment fell, Central Bank figures showed on Sunday. Figures published on the Central Bank's
Published 28 Feb, 2005 12:00am
Qatar and Shell sign $6-$7 billion LNG deal

Qatar and Shell sign $6-$7 billion LNG deal

Gas giant Qatar and Anglo-Dutch major Royal Dutch/Shell signed a $6-$7 billion liquefied natural gas (LNG) deal on Sunday to ship gas to north America and Europe. Officials and company executives said the Qatargas 4 project involves the development of ups
Published 28 Feb, 2005 12:00am
EDS wins four billion sterling defence deal

EDS wins four billion sterling defence deal

Britain's defence ministry will this week award a 4 billion pounds ($7.64 billion) computer system deal to a consortium headed by US firm EDS and Japan's Fujitsu Services, newspapers said on Sunday. The new system will connect 150,000 computers across the
Published 28 Feb, 2005 12:00am
US group mulls bid for UK submarine firm

US group mulls bid for UK submarine firm

US private equity firm the Carlyle Group is considering bidding 450 million pounds ($859.6 million) for the company that refits Britain's nuclear submarine fleet, the Independent on Sunday newspaper reported. Carlyle has held informal talks over the past
Published 28 Feb, 2005 12:00am
World market could be hurt as severe coal shortage worsens in China

World market could be hurt as severe coal shortage worsens in China

China's breakneck economic growth is causing a dangerous shortage of its most important energy source coal, with potential consequences for the entire world, state media warned Sunday. Scarcity is so severe officials even worry aloud that it could cause s
Published 28 Feb, 2005 12:00am
Landmark anti-smoking treaty enters into force

Landmark anti-smoking treaty enters into force

A landmark treaty aimed at cutting deaths and illness caused by smoking came into force on Sunday, after 57 countries ratified international restrictions on tobacco producers and smokers, the World Health Organisation said. The WHO hopes the first ever pu
Published 28 Feb, 2005 12:00am
Israeli former minister admits tried to smuggle drugs

Israeli former minister admits tried to smuggle drugs

A former Israeli cabinet minister has admitted he tried to smuggle 30,000 ecstasy tablets into Israel from the Netherlands and faces up to five years in jail, his lawyer said on Sunday. Gonen Segev, energy and infrastructure minister from 1992 to 1995, fo
Published 28 Feb, 2005 12:00am
US planning Arab-language TV broadcasts to Europe

US planning Arab-language TV broadcasts to Europe

The Bush administration plans to begin Arab-language satellite-television broadcasts to Europe later this year in a new escalation of its information war against Islamic extremism, officials say. Three-and-a-half years after Islamic militants based in Ger
Published 28 Feb, 2005 12:00am
Pope makes Surprise appearance

Pope makes Surprise appearance

Pope John Paul II made a surprise appearance at his hospital window Sunday, his first since undergoing surgery on his throat last week. The 84-year-old pontiff waved to the applauding crowd outside the hospital, made the sign of the cross and touched his
Published 28 Feb, 2005 12:00am
15 killed as fresh violence embattled Nepal

15 killed as fresh violence embattled Nepal

At least 15 people, including a senior police officer, were killed in violence in Nepal, authorities said on Sunday, a day after Maoists ended a crippling road blockade against King Gyanendra's power grab. In the latest strikes by Maoists, a deputy police
Published 28 Feb, 2005 12:00am
Saddam's half-brother arrested in Iraq, 10 killed in attacks

Saddam's half-brother arrested in Iraq, 10 killed in attacks

A half-brother of ousted Iraqi president Saddam Hussein, accused of masterminding deadly insurgency from neighbouring Syria, has been arrested, officials said on Sunday. "Security forces in Iraq captured the criminal Sabawi Ibrahim al-Hassan al-Tikrit, ha
Published 28 Feb, 2005 12:00am
Congress wins election in Haryana

Congress wins election in Haryana

India's Congress party bolstered a recent string of electoral wins by sweeping a key farm state, but late results on Sunday showed it behind its chief rival in two other states that went to the polls in February. The chief minister of the north Indian sta
Published 28 Feb, 2005 12:00am
Lebanon bans planned protests

Lebanon bans planned protests

Lebanon's Interior Ministry said on Sunday it had banned protests on Monday to avoid trouble on a day when opponents of the Syrian-backed government had called a demonstration and one-day national strike. A statement from the ministry called on the securi
Published 28 Feb, 2005 12:00am
Oscars set for battle of titans

Oscars set for battle of titans

Stars were set to strut their stuff on the Oscars' red carpet with the world watching on Sunday, as Clint Eastwood braced to see if his "Million Dollar Baby" would knock out Martin Scorsese's "The Aviator" on the film industry's biggest night of the year.
Published 28 Feb, 2005 12:00am
Thousands demonstrated for prosecution of Belfast man's murderers

Thousands demonstrated for prosecution of Belfast man's murderers

Thousands demonstrated in Belfast Sunday for the prosecution of murderers of a Northern Irishman stabbed and beaten to death in a bar, apparently by members of the Irish Republican Army (IRA). Families in a Roman Catholic district of the city joined the s
Published 28 Feb, 2005 12:00am
Polls close in Tajikistan election

Polls close in Tajikistan election

More than 84 percent of Tajikistan's 3.1 registered voters cast ballots in Sunday's legislative elections likely to be dominated by the ruling party of President Emomali Rakhmonov in the Central Asian country scarred by civil war. The 3,000 polling statio
Published 28 Feb, 2005 12:00am
Sharon demands Palestinians act after Tel Aviv bomb

Sharon demands Palestinians act after Tel Aviv bomb

Israeli Prime Minister Ariel Sharon said Sunday there would be no progress in the peace process until the Palestinians crack down on armed factions, as defence chiefs threatened to resume military action against the movement behind a deadly suicide bombin
Published 28 Feb, 2005 12:00am
Iran and Russia sign landmark nuclear fuel accord

Iran and Russia sign landmark nuclear fuel accord

Iran and Russia on Sunday signed a landmark nuclear fuel accord that paves the way for the firing up of the country's first atomic power station, a project the United States alleges is part of a cover for weapons development. Under the deal, which would c
Published 28 Feb, 2005 12:00am
As Japan goes grey, toymakers design dolls for the elderly

As Japan goes grey, toymakers design dolls for the elderly

As Japan produces fewer children and more retirees, toymakers are designing new dolls designed not for the young but for the lonely elderly - companions which can sleep next to them and offer caring words they may never hear otherwise. Talking toys have b
Published 28 Feb, 2005 12:00am
Iraq war 'undertaken on false assumptions'

Iraq war 'undertaken on false assumptions'

"It was a war that was undertaken on false assumptions, perhaps on false claims," said Zbigniew Brzezinski, former National Security Advisor to the Carter administration of the United States. This may seem a long-established view given to the region that
Published 28 Feb, 2005 12:00am
Serbs scared to return to devastated Kosovo town

Serbs scared to return to devastated Kosovo town

The United Nations policeman said to follow the tyre tracks in the snow to find Sibin Drobnjakovic, one of the few Serbs left in the village. A thin trail of smoke curled from the chimney of building C-43, Drobnjakovic's new home in Svinjare, northern Kos
Published 28 Feb, 2005 12:00am
Elephants face slow death in north-eastern India for lack of work

Elephants face slow death in north-eastern India for lack of work

Since his elephant Ramu died last week, a distraught Dharanidhar Bhumiz has been unable to sleep. "I didn't have money to treat Ramu. I don't feel like eating and while sleeping, Ramu continues to haunt me," Bhumiz told AFP. Ramu was one of three bull ele
Published 28 Feb, 2005 12:00am
Manual passports

Manual passports

Our interior ministry has once again reminded us that all manual passports will expire on June 30, 2006 no matter what expiry date it carries and the applicant will have to apply for machine readable passport. The Interior Ministry had on October 25, 2004
Published 28 Feb, 2005 12:00am
Import of cars

Import of cars

Apropos Mumtaz A. Piracha's letter appearing in your esteemed newspaper on February 20, 2005 on the issue of the "import of cars" I would like to state a few realities which I think are important for the readers and consumers to be aware of; as to why "su
Published 28 Feb, 2005 12:00am
Riba and its impacts

Riba and its impacts

The question of prohibition of Riba (interest) had never been a point of debate among the Muslims of the past era for the obvious reasons that the Holy Quran and Sunnah are quite eloquent and unambiguous on this point. Also because the Islamic point of vi
Published 28 Feb, 2005 12:00am
Opposition's feet of clay!

Opposition's feet of clay!

Opposition has been at the receiving end in this country. Every government in Pakistan, democratic or military, has imprisoned them, hounded them, and harassed them and when in benign mood ignored them. The recent examples of State terrorism on the opposi
Published 28 Feb, 2005 12:00am
Marble industry in focus

Marble industry in focus

According to a report from Lahore, acting on the advice of Federal Industries Minister Jehangir Tareen, the Small and Medium Enterprises Development Authority has accelerated the process of initiation of the pilot projects for the development of marble in
Published 28 Feb, 2005 12:00am
Energy action plan

Energy action plan

President General Pervez Musharraf and Prime Minister Shaukat Aziz have approved an action plan to meet Pakistan's growing energy requirements in the immediate, medium-and long-term perspectives. After a presentation on an 'Energy Security Action Plan' th
Published 28 Feb, 2005 12:00am
Deflated Kiwis dump Tuffey from series

Deflated Kiwis dump Tuffey from series

Struggling paceman Daryl Tuffey has been made the scapegoat for New Zealand's ineffective opposition to Australia in the one-day cricket series, being dropped for the fourth match on Tuesday along with injured batsman Michael Papps. International newcomer
Published 28 Feb, 2005 12:00am
Toms and DiMarco make it all-American Match Play final

Toms and DiMarco make it all-American Match Play final

David Toms and Chris DiMarco posted semi-final victories here on Saturday to book an all-American final at the 7.5 million-dollar World Golf Championships Match Play Championship. Toms built a lead over England's Ian Poulter with eagles at the 10th and 11
Published 28 Feb, 2005 12:00am
Lee warned lawsuits beckon if beamers continue

Lee warned lawsuits beckon if beamers continue

New Zealand cricket coach John Bracewell warned on Sunday that Australian speedster Brett Lee risked being taken to court if he continued to fire down beamers. Bracewell was irked by Lee's waist-high full toss to Brendon McCullum in the third one-day inte
Published 28 Feb, 2005 12:00am
Not easy to spot winners in India-Pakistan cricket series

Not easy to spot winners in India-Pakistan cricket series

Never make the mistake of predicting a winner in an India-Pakistan contest, cricket experts have warned ahead of the high-profile series between the arch-rivals. Opinions are already divided, with some claiming India will complete a 3-0 whitewash on the s
Published 28 Feb, 2005 12:00am
India in for a big shock: Inzamam

India in for a big shock: Inzamam

Pakistan captain Inzamamul Haq has fired the first salvo ahead of an away cricket series against India, saying his young team could spring a big surprise on the hosts. The Inzamam-led side was at the receiving end a year ago when India clinched both the T
Published 28 Feb, 2005 12:00am
Ring road survey to be completed shortly

Ring road survey to be completed shortly

The RDA survey for the construction of a 28-km-long Ring Road in the city is likely to be completed within a month. The survey has been conducted by a Rawalpindi Development Authority (RDA) whereas the alignment of the road would be finalised soon, said t
Published 28 Feb, 2005 12:00am
SNGPL utilising Rs eight billion on various projects

SNGPL utilising Rs eight billion on various projects

Managing Director Sui Northern Gas Pipeline Ltd Abdul Rashid Loan said the Sui Northern Gas Pipeline is utilising more than Rs 8 billion during the current fiscal period on the accomplishment of various development projects in the country. The SNGPL was m
Published 28 Feb, 2005 12:00am
Government benefits miners' families

Government benefits miners' families

The government is taking effective steps for the welfare of miners and all possible education and healthcare facilities have provided to the miners and their families during the last two years. These facilities include free of cost treatment, administrati
Published 28 Feb, 2005 12:00am
Call to make anti-polio drive successful

Call to make anti-polio drive successful

District Co-ordination Officer (DCO) Larkana Abdul Razaque Qureshi has appealed to the people of Larkana as well as NGOs, social workers, elected representatives, scouts to come forward and put in every effort to make the anti-polio campaign a success. Pr
Published 28 Feb, 2005 12:00am
Adequate efforts being made for oil and gas discovery: minister

Adequate efforts being made for oil and gas discovery: minister

The State Minister for Petroleum and Natural Resources, Mir Muhammad Nasir Mengal has said that adequate efforts are being made for searching new reservoirs of oil and gas in the country. Talking to Business Recorder at the residence of Dr Firdous
Published 28 Feb, 2005 12:00am
'Punjab giving top priority to promotion of education'

'Punjab giving top priority to promotion of education'

Agriculture Secretary Punjab, Fayyaz Bashir said that the provincial government is giving the highest priority to promotion of education especially technology development in the Agriculture Sector, while the process of reorganising and strengthening Agric
Published 28 Feb, 2005 12:00am
Trains schedule

Trains schedule

The Pakistan Railways has changed the schedule and stations of cancelled trains and also restored the Rohi Express. Announcing the schedule here on Saturday, PR Rawalpindi divisional superintendent Ashfaq Khattak said people should contact their nearest s
Published 28 Feb, 2005 12:00am
Free medical camp in Kohat

Free medical camp in Kohat

Begum Shamim Iftikhar, wife of NWFP Governor, arranged a day long free medical camp in collaboration with the Social Welfare Society of Khyber Medical College, which is also known as the Youth Wing of Pakistan Red Crescent Society in Tora Stana area of Di
Published 28 Feb, 2005 12:00am
Overall increase seen in cotton prices

Overall increase seen in cotton prices

Presumed enhanced world cotton consumption and locally phutti and quality lots are becoming scarcer are signalling that bulls may take the market by storm, relevant sources commented on trading during the week-ended on Saturday (February 24, 2005). Howeve
Published 28 Feb, 2005 12:00am
Zaigham Rizvi takes charge as HBFC chief

Zaigham Rizvi takes charge as HBFC chief

Zaigham Mahmood Rizvi has been appointed by the government as Chairman/ Managing Director of House Building Finance Corporation (HBFC). Rizvi brings with him rich experience of development banking, having served in various financial institutions, both at
Published 28 Feb, 2005 12:00am
Grains, seeds trade remains in low key

Grains, seeds trade remains in low key

Trading in wholesale commodities depicted low going where price variations were modest to low as supplies of some items bettered during the week ended on February 26, 2005. However tea prices are likely to gain subject to Kenyan decision to raise import d
Published 28 Feb, 2005 12:00am
Call to form vigilance bodies

Call to form vigilance bodies

Punjab Chief Minister Chaudhry Pervaiz Elahi should issue a notification for the formation of the Vigilance Committees in districts under the Bonded Labour System (Abolition) Act 1992 and Rules 1995. Jawad Aslam of Society for the Protection of the Rights
Published 28 Feb, 2005 12:00am
Cotton prices appear strong on local and export markets

Cotton prices appear strong on local and export markets

On the basis of latest cotton arrivals, hope for producing a bumper cotton crop of no less than 14.5 million 170-Kg bales against earlier estimates of 15.0 million bales, is fading and final figures may touch the level of 14.5 million bales. In the fortni
Published 28 Feb, 2005 12:00am
Cotton prices appear strong on local and export markets

Cotton prices appear strong on local and export markets

On the basis of latest cotton arrivals, hope for producing a bumper cotton crop of no less than 14.5 million 170-Kg bales against earlier estimates of 15.0 million bales, is fading and final figures may touch the level of 14.5 million bales. In the fortni
Published 28 Feb, 2005 12:00am
Redtone to offer phone services at 50 percent cheaper rates

Redtone to offer phone services at 50 percent cheaper rates

The forthcoming telecom operator, Redtone Pakistan, on Sunday hinted provision of services at 50 percent cheaper rates following the launch of its operations in the country from April this year. Now the domestic and international calls in Pakistan would b
Published 28 Feb, 2005 12:00am
Sindh to expand industrial area in Nooriabad

Sindh to expand industrial area in Nooriabad

Sindh Governor, Dr Ishrat-ul-Ibad Khan has said that 5,000 acres of land is being acquired in Nooriabad industrial estate for more industries. Talking to a delegation of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday, he said
Published 28 Feb, 2005 12:00am
NA 127 by-poll held peacefully

NA 127 by-poll held peacefully

The law and order situation on the occasion of by-election in the National Assembly constituency NA-127 remained peaceful here on Sunday. Senior Superintendent Police (Operations) Aftab Ahmad Cheema while talking to APP here said he along with other senio
Published 28 Feb, 2005 12:00am
'Sindh government doing best to improve industrial sector'

'Sindh government doing best to improve industrial sector'

Chairman, Investment and Development Cell of Sindh Chief Minister, Dr Ghausuddin Khan has said that Sindh government was taking all measures on war footing basis to improve industrial sector in both urban and rural areas of the province through national a
Published 28 Feb, 2005 12:00am
20 held, weapons seized in raids

20 held, weapons seized in raids

The security forces detained 20 people and seized rockets and automatic weapons at the weekend during raids on tribal homes outside the city of Quetta, police officials said on Sunday. Fifteen people were taken into custody on Sunday, while another five w
Published 28 Feb, 2005 12:00am
Pakistan and Eritrea to promote parliamentary cooperation

Pakistan and Eritrea to promote parliamentary cooperation

The Eritrean President, Isaias Afwerki on Saturday said his country was keen to promote bilateral co-operation with Pakistan and learn from its experience in various fields. "There exists tremendous potential to enhance mutual co-operation and added that
Published 28 Feb, 2005 12:00am
Orix Leasing announces six months profit

Orix Leasing announces six months profit

Orix Leasing Pakistan Limited (OLP) announced record profit for the half year to December 31, 2004 and the highest volume of new leases written in six months. The company earned profit before tax of Rs 163 million which is 10.6 percent higher than the cor
Published 28 Feb, 2005 12:00am
Orix Leasing announces six months profit

Orix Leasing announces six months profit

Orix Leasing Pakistan Limited (OLP) announced record profit for the half year to December 31, 2004 and the highest volume of new leases written in six months. The company earned profit before tax of Rs 163 million which is 10.6 percent higher than the cor
Published 28 Feb, 2005 12:00am
Government-opposition parleys going on: Rashid

Government-opposition parleys going on: Rashid

Information Minister, Sheikh Rashid on Sunday said government was in constant touch with the opposition. "Contacts with political parties are natural in a democratic set-up and there should be contacts between the government and the opposition, he said wh
Published 28 Feb, 2005 12:00am
German investor calls on Prime Minister

German investor calls on Prime Minister

A German investor, Henry Biri, who is the vice-president of Metro Group, called on Prime Minister Shaukat Aziz at Bahtar, Fateh Jhang, after his address to a public meeting there on Sunday. Henry Biri informed Shaukat Aziz that he had been inspired to vis
Published 28 Feb, 2005 12:00am
Wapda to spend Rs 34 billion on network upgradation

Wapda to spend Rs 34 billion on network upgradation

Wapda will spend Rs 34 billion over a period of next five years for rehabilitation and upgradation of its transmission and distribution network, to facilitate its consumers with more stable power supply as well as bring down the system losses up to five p
Published 28 Feb, 2005 12:00am
Call for consultations before WTO moot

Call for consultations before WTO moot

The WTO experts have feared that developed countries may impose their policy decisions on developing ones in the upcoming WTO mini-ministerial conference starting from March 2 in Kenya. Experts expressed these reservations here on Sunday while speaking at
Published 28 Feb, 2005 12:00am
SECP notifies voluntary pension system rules

SECP notifies voluntary pension system rules

The Securities and Exchange Commission of Pakistan (SECP) has finalised the rules for Voluntary Pension System, allowing asset management companies and life insurance companies to act as pension managers, offering annuity plans. According to a release of
Published 28 Feb, 2005 12:00am
Corporate cases listed for Supreme Court

Corporate cases listed for Supreme Court

The Supreme Court cases list for the coming judicial week commencing from Monday has some important appeals relating to the national accountability bureau (NAB) and banking and corporate laws. The most important case is an appeal by Shahida Faisal Saleh H
Published 28 Feb, 2005 12:00am
Education expo inaugurated

Education expo inaugurated

The two-day exhibition, Education Expo-2005, has begun at the Karachi Expo Centre on Sunday. Higher Education Commission (HEC) Chairman Dr Atta-ur-Rehman, while inaugurating the event, said a comprehensive national strategy for development of the country
Published 28 Feb, 2005 12:00am
Washington Post report termed 'baseless'

Washington Post report termed 'baseless'

Pakistan has strongly rejected Washington Post report about a meeting 18 years ago between Dr Abdul Qadeer Khan and Iranian officials which resulted in a written offer to supply Iran with the makings of a nuclear weapons programme. Foreign Office spokesma
Published 28 Feb, 2005 12:00am
Arbab meets Pir Pagara

Arbab meets Pir Pagara

Sindh Chief Minister Dr Arbab Ghulam Rahim called on veteran politician and leader of Muslim League (Functional) Pir Sahib Pagara here on Sunday at Karachi Race Course and discussed with him the political situation of the country. Later, Arbab attended pr
Published 28 Feb, 2005 12:00am
Upward trend in SPI continues unabated

Upward trend in SPI continues unabated

The sensitive price indicator (SPI) of 53 daily use items for week ending on February 24 has further inched up to 12.76 percent as compared to corresponding week previous year. The weekly bulletin of Federal Bureau of Statistics (FBS) showed that the doub
Published 28 Feb, 2005 12:00am
101 Indian fishermen held

101 Indian fishermen held

Authorities on Sunday arrested 101 Indians for illegally fishing in its territorial waters, officials said. "We have arrested 101 Indian fishermen and seized their 16 boats for violating our maritime zone," Maritime Security Agency spokesman Khawar Hasan
Published 28 Feb, 2005 12:00am
101 Indian fishermen held

101 Indian fishermen held

Authorities on Sunday arrested 101 Indians for illegally fishing in its territorial waters, officials said. "We have arrested 101 Indian fishermen and seized their 16 boats for violating our maritime zone," Maritime Security Agency spokesman Khawar Hasan
Published 28 Feb, 2005 12:00am
Railways overcomes operational losses, may earn profit

Railways overcomes operational losses, may earn profit

Pakistan Railways has overcome its annual operational losses of Rs 1 billion and may earn some profit by June 2005, after 30 years of chaos, mismanagement, corruption, criminal negligence, highhandedness of politically sponsored unions and unabated politi
Published 28 Feb, 2005 12:00am
Railways overcomes operational losses, may earn profit

Railways overcomes operational losses, may earn profit

Pakistan Railways has overcome its annual operational losses of Rs 1 billion and may earn some profit by June 2005, after 30 years of chaos, mismanagement, corruption, criminal negligence, highhandedness of politically sponsored unions and unabated politi
Published 28 Feb, 2005 12:00am
Big mills enhance paper prices by 30-35 percent

Big mills enhance paper prices by 30-35 percent

Various paper mills have increased the prices of their products by 30-35 percent during last couple of weeks. The paper mill-owners have also established a pool to produce different grammage of paper so that interest of one paper mill may not clash with o
Published 28 Feb, 2005 12:00am
Big mills enhance paper prices by 30-35 percent

Big mills enhance paper prices by 30-35 percent

Various paper mills have increased the prices of their products by 30-35 percent during last couple of weeks. The paper mill-owners have also established a pool to produce different grammage of paper so that interest of one paper mill may not clash with o
Published 28 Feb, 2005 12:00am
Money Week: Commercial banks continue fuelling credit expansion

Money Week: Commercial banks continue fuelling credit expansion

The scenario at about the end of the first half of FY05 called for amends in monetary policy. Inflation had been on the rise. Overall consumer inflation in January 2005 over January 2004 (ie, CPI on a year on year basis) went up by 8.51 percent. Within it
Published 28 Feb, 2005 12:00am
Money Week: Commercial banks continue fuelling credit expansion

Money Week: Commercial banks continue fuelling credit expansion

The scenario at about the end of the first half of FY05 called for amends in monetary policy. Inflation had been on the rise. Overall consumer inflation in January 2005 over January 2004 (ie, CPI on a year on year basis) went up by 8.51 percent. Within it
Published 28 Feb, 2005 12:00am
Money Week: Commercial banks continue fuelling credit expansion

Money Week: Commercial banks continue fuelling credit expansion

The scenario at about the end of the first half of FY05 called for amends in monetary policy. Inflation had been on the rise. Overall consumer inflation in January 2005 over January 2004 (ie, CPI on a year on year basis) went up by 8.51 percent. Within it
Published 28 Feb, 2005 12:00am
Descartes first edition fetches 78,000 euros

Descartes first edition fetches 78,000 euros

A first edition of French philosopher Rene Descartes' 1637 work "Discourse on Method" was sold Sunday for 78,000 euros (103,000 dollars) at auction in Evreux north-west of Paris. The city's auction house did not reveal the identity of the buyer, who used
Published 28 Feb, 2005 12:00am
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