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May 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-03-06
Indian key stock index rises on ONGC issue

Indian key stock index rises on ONGC issue

India's key stock index rose to a two-week closing high on Friday as investors cheered the huge response to the nation's record share issue, which was oversubscribed within minutes of the offer opening.
Published 06 Mar, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

Stocks zigzagged near unchanged Friday as investors weighed expectations for low interest rates with concerns over the health of the job market after February's surprisingly weak employment report.
Published 06 Mar, 2004 12:00am
Corporate bonds steady after weak US data

Corporate bonds steady after weak US data

Despite a surprising drop in US February payrolls data, European corporate bonds held steady on Friday, as thin volumes prevented the credit market from showing a heated reaction.
Published 06 Mar, 2004 12:00am
Corporate bonds steady after weak US data

Corporate bonds steady after weak US data

Despite a surprising drop in US February payrolls data, European corporate bonds held steady on Friday, as thin volumes prevented the credit market from showing a heated reaction.
Published 06 Mar, 2004 12:00am
FTSE-100 trims week's gain on grim US data; Shell dips

FTSE-100 trims week's gain on grim US data; Shell dips

Britain's top shares fell on Friday, trimming the week's strong gains as oil titan Shell came under pressure and sluggish growth in US employment rattled confidence in a revival in the world's biggest economy.
Published 06 Mar, 2004 12:00am
Hong Kong dollar ends steady

Hong Kong dollar ends steady

The Hong Kong dollar was little changed on Friday near a five-month low as players awaited key US jobs data due later in the day.
Published 06 Mar, 2004 12:00am
Chinese yuan notches weaker

Chinese yuan notches weaker

The yuan ended two notches weaker versus the US dollar at 8.2772 on Friday, remaining near the stronger end of its managed trading range.
Published 06 Mar, 2004 12:00am
Swiss franc firms ahead of US jobs data

Swiss franc firms ahead of US jobs data

The Swiss franc rose slightly on Friday from near three-month lows against the dollar ahead of key US jobs data that will be eyed for new evidence about the strength of the US recovery.
Published 06 Mar, 2004 12:00am
Dollar hits four-month high against yen ahead of key US data

Dollar hits four-month high against yen ahead of key US data

The dollar extended its month-long rally on Friday, hitting a four-month high versus the yen on hopes for strong US jobs data later in the day and on growing speculation that Japan would continue intervening in the market.
Published 06 Mar, 2004 12:00am
Dollar climbs against yen with traders wary of Japan

Dollar climbs against yen with traders wary of Japan

The dollar climbed steeply against the yen on Thursday as traders were wary of Japanese yen-weakening intervention, but rose more modestly against the euro as traders took positions ahead of Friday's US payrolls report.
Published 06 Mar, 2004 12:00am
Australian dollar slips

Australian dollar slips

The Australian dollar circled the 75 US cent mark for most of Friday's local session, holding its ground after this week's steep fall as the US dollar was buoyed by expectations of an upbeat US employment report.
Published 06 Mar, 2004 12:00am
Asian currencies weaker but outperform yen

Asian currencies weaker but outperform yen

Asian currencies weakened slightly on Friday ahead of key US jobs data but outperformed the yen, which was undermined by wariness of Japanese intervention.
Published 06 Mar, 2004 12:00am
Indian rupee snaps two-day fall

Indian rupee snaps two-day fall

The Indian rupee snapped a two-day fall against the greenback to end firmer on Friday as a cash dollar shortage ebbed and demand from importers of defence equipment and state-run oil companies eased, dealers said.
Published 06 Mar, 2004 12:00am
Sterling surges verses dollar

Sterling surges verses dollar

Sterling surged more than two cents against the dollar on Friday as a surprisingly weak US jobs report sent the US currency tumbling across the board.
Published 06 Mar, 2004 12:00am
Dollar extends recent gains in London

Dollar extends recent gains in London

The dollar extended recent gains to four-month highs on the yen and held fairly steady versus the euro on Friday on expectations the United States would report jobs data later that could hasten US interest rate hikes.
Published 06 Mar, 2004 12:00am
Mummy of Tibetan monk found in Himalayas

Mummy of Tibetan monk found in Himalayas

A mummy of a Tibetan Buddhist monk, believed to be about 500 years old, has been found in India's northern Himalayan state of Himachal Pradesh, the Hindustan Times.com website reported.
Published 06 Mar, 2004 12:00am
Russia must remove Moldova troops for treaty: US

Russia must remove Moldova troops for treaty: US

Russia must withdraw its troops and forces from the former Soviet state of Moldova to ratify a treaty limiting conventional forces in Europe, a senior US diplomat said on Friday.
Published 06 Mar, 2004 12:00am
US defends controversial Middle East reform plans

US defends controversial Middle East reform plans

A senior US diplomat defended Friday Washington's controversial "Greater Middle East" initiative for reform in the region, which has sparked criticism in the Arab world and reservations in Europe.
Published 06 Mar, 2004 12:00am
Sri Lanka Tamil rebels face turmoil over split

Sri Lanka Tamil rebels face turmoil over split

Sri Lanka's Tamil Tiger rebels sought on Friday to contain an internal rift that could threaten moves to restart peace talks, after reports a renegade commander had demanded a separate cease-fire with the government.
Published 06 Mar, 2004 12:00am
New Russian Prime Minister aims for reshuffle

New Russian Prime Minister aims for reshuffle

Russia's new prime minister, Mikhail Fradkov, pledged on Friday to slim down and reshuffle the government and tackle a lumbering bureaucracy that is stifling the nation's economic potential.
Published 06 Mar, 2004 12:00am
Cholesterol drugs can cut strokes

Cholesterol drugs can cut strokes

Cholesterol-lowering drugs can reduce the number of strokes by a third and should be included in international guidelines on treating a health problem that kills millions of people each year, scientists said on Friday.
Published 06 Mar, 2004 12:00am
Postal stamp fuss revives Japan-Korea islet dispute

Postal stamp fuss revives Japan-Korea islet dispute

A group of Japanese lawmakers applied on Friday to buy customised postage stamps showing a group of islets claimed by both Japan and South Korea in a long-standing territorial row.
Published 06 Mar, 2004 12:00am
UN Myanmar visit raises reconciliation hopes

UN Myanmar visit raises reconciliation hopes

For the first time in years, Myanmar opposition groups and analysts dared to hope on Friday there is a possibility of reconciliation in the long-fragmented nation ruled by the military for more than four decades.
Published 06 Mar, 2004 12:00am
South Korean party may try to impeach Roh

South Korean party may try to impeach Roh

The party that brought South Korean President Roh Moo-hyun to power pledged on Friday to seek his impeachment if he does not apologise for what they called partisan election comments.
Published 06 Mar, 2004 12:00am
Zahir Shah meets Indian president

Zahir Shah meets Indian president

Afghanistan's former king Mohammed Zahir Shah, who underwent medical treatment last month in New Delhi, held talks with Indian President Abdul Kalam Friday on enhancing co-operation between the two nations, a presidential spokesman told AFP.
Published 06 Mar, 2004 12:00am
Turkish worker killed in Kabul

Turkish worker killed in Kabul

A Turkish engineer working on a US-funded road project was killed and another was kidnapped in southern Afghanistan on Friday in an ambush officials blamed on Islamic militants.
Published 06 Mar, 2004 12:00am
China to boost military strength

China to boost military strength

China will strengthen its military and build up its arsenal of high-tech weaponry, Prime Minister Wen Jiabao said Friday at the opening of the annual session of parliament.
Published 06 Mar, 2004 12:00am
Leaders pay last respects to Macedonian president

Leaders pay last respects to Macedonian president

Leaders of Balkan and central European states paid their last respects to Macedonia's peacemaker president Boris Trajkovski on Friday ahead of his state funeral in the capital, Skopje.
Published 06 Mar, 2004 12:00am
Victims' families press Bush to pull September 11 ads

Victims' families press Bush to pull September 11 ads

Families who lost relatives in the September 11, 2001, attacks pressed President George W. Bush's re-election campaign on Friday to stop running political ads that use images of the devastated World Trade Centre to show him as a strong leader in troubled
Published 06 Mar, 2004 12:00am
Brazil, India and South Africa defend 'peaceful' ties

Brazil, India and South Africa defend 'peaceful' ties

India, Brazil and South Africa on Friday said they would sit on the same side of the fence in the United Nations and World Trade Organisation (WTO), but that their "closeness" should not be viewed as a threat by other countries.
Published 06 Mar, 2004 12:00am
Malaysia to hold election on March 21

Malaysia to hold election on March 21

Multi-racial Malaysia on Friday set a general election for March 21, with new Prime Minister Abdullah Ahmad Badawi sure of victory but needing to recapture Muslim Malay votes from the Islamist opposition.
Published 06 Mar, 2004 12:00am
Russian engineers gave missile aid to Iraq

Russian engineers gave missile aid to Iraq

Russian engineers secretly aided Saddam Hussein's long-range ballistic missile programme, the New York Times reported on Friday citing American government officials.
Published 06 Mar, 2004 12:00am
Blair on the defensive over Iraq

Blair on the defensive over Iraq

Prime Minister Tony Blair made an impassioned defence Friday of his decision to take Britain to war in Iraq, insisting that it was the right move given the nature of the threat from global terrorism.
Published 06 Mar, 2004 12:00am
Zarqawi still in Iraq: Abizaid

Zarqawi still in Iraq: Abizaid

The suspected al Qaeda operative believed to be behind a wave of deadly attacks in Iraq is still in that country and the target of an intense manhunt, the commander of US forces in Iraq and Afghanistan said on Thursday.
Published 06 Mar, 2004 12:00am
Iraq constitution signing delayed

Iraq constitution signing delayed

Last-minute objections by five Shia leaders forced the indefinite postponement of Friday's signing of an interim constitution for Iraq, threatening US plans to hand sovereignty back to Iraqis on June 30.
Published 06 Mar, 2004 12:00am
Iraq constitution signing delayed

Iraq constitution signing delayed

Last-minute objections by five Shia leaders forced the indefinite postponement of Friday's signing of an interim constitution for Iraq, threatening US plans to hand sovereignty back to Iraqis on June 30.
Published 06 Mar, 2004 12:00am
General Yusaf lauds efforts of FWO

General Yusaf lauds efforts of FWO

Vice Chief of Army Staff, General Mohammad Yusaf Khan, has commended the efforts of all ranks of Frontier Works Organisation (FWO) on completion of Pasni-Gawadar project ahead of schedule while ensuring requisite standards.
Published 06 Mar, 2004 12:00am
Tourism promotion stressed

Tourism promotion stressed

Pakistan has quite a number of places that are famous for scenic beauty and as health resorts and there is a need for their adequate publicity in order to help promote tourism in the country.
Published 06 Mar, 2004 12:00am
Sindh EPA denies threat to wildlife

Sindh EPA denies threat to wildlife

Sindh Environmental Protection Agency authorities have strongly dispelled the impression regarding potential threat to environment and wildlife as an aftermath of Thar Coal Project in district Tharparkar district.
Published 06 Mar, 2004 12:00am
Slic likely to earn Rs 10 billion profit for 2003

Slic likely to earn Rs 10 billion profit for 2003

The State Life Insurance Corporation of Pakistan (Slic) is expected to earn a profit of Rs 10 billion during the calendar year 2003. This was stated by the Slic's chairman, Rasool Bakhsh Baloch, here on Friday.
Published 06 Mar, 2004 12:00am
Partly Facetious: Straw's mission in Islamabad

Partly Facetious: Straw's mission in Islamabad

"What in the world is Poodle's emissary doing in Islamabad! I mean who invited him? We don't have to put up with bad manners from him surely! I mean it's OK to take it from the Poodle's master - Bush."
Published 06 Mar, 2004 12:00am
Bikini islanders pay bitter sweet visit to former home

Bikini islanders pay bitter sweet visit to former home

For the 40 or so ageing Bikini islanders, it was a rare but bittersweet visit to their former home this week to mark the 50th anniversary of the hydrogen bomb test over the Pacific atoll they evacuated more than half a century ago.
Published 06 Mar, 2004 12:00am
Trading in peace - can India and Pakistan do business?

Trading in peace - can India and Pakistan do business?

The year is 2010. Business between India and Pakistan is flourishing. Banking and telecoms links wedding the two former enemies have proliferated. Trade disputes replace military disputes.
Published 06 Mar, 2004 12:00am
Arabian Sea

Arabian Sea

Please refer to the letter "Contentious water issues" published in your esteemed paper on 28.2.2004.
Published 06 Mar, 2004 12:00am
A pensioner's plight

A pensioner's plight

The Government announced increase in pension in the Federal Budget 2003 - 2004.
Published 06 Mar, 2004 12:00am
PIA's ad hoc schedules

PIA's ad hoc schedules

My family was to travel from Lahore to London by PK 757 of Tuesday. They held confirmed seats for a scheduled Boeing 747 flight. However, some bright guy sitting in PIA decided to put the new Boeing 777, which has about 100 seats less than B747.
Published 06 Mar, 2004 12:00am
China banks on reforming rural credit coops

China banks on reforming rural credit coops

With a coal-heated stove and two iron woks among the most prominent features of Tuanshuitou's spartan banking hall, it is no wonder locals say they have lost faith in the local Rural Credit Co-operative.
Published 06 Mar, 2004 12:00am
Tall claims

Tall claims

Talking to journalists at a workshop on environmental issues, jointly organised by the Ministry of Environment and UNDP, State Minister for Environment, Major Tahir Iqbal (Retd), disclosed that the government had decided to allocate over Rs 500 million fo
Published 06 Mar, 2004 12:00am
An indecent union

An indecent union

It may be hard to believe but it is true that almost all the major political parties in this country have unblushingly united on an anti-democracy stand.
Published 06 Mar, 2004 12:00am
Strict measures to be taken during Pak-India series

Strict measures to be taken during Pak-India series

Pakistan Cricket Board Chairman Shaharyar M. Khan has said that strict measures would be taken during the Indian tour to Pakistan and people would not be allowed to take their mobile phones or any sort of solar equipment in stadiums.
Published 06 Mar, 2004 12:00am
Reema becomes Pakistan's first film celebrity for Pepsi ad

Reema becomes Pakistan's first film celebrity for Pepsi ad

A leading soft drink manufacturer has signed film star Reema as Pepsi Cola's new celebrity in Pakistan keeping alive the tradition of signing contracts with cricket stars and musical groups in the advertisement campaigns of soft drinks.
Published 06 Mar, 2004 12:00am
Wapda focussing on system augmentation

Wapda focussing on system augmentation

With a view to slash its system losses and to serve its consumers with smooth power supply, Water and Power Development Authority, (Wapda) is engaged in augmenting its transmission and distribution system.
Published 06 Mar, 2004 12:00am
Setting up of panel to boost jewellery exports urged

Setting up of panel to boost jewellery exports urged

Gold Art Promotion Council (GAPC) has demanded of the government to constitute a 'Gem and Jewellery Advisory Committee' at national level to give boost to jewellery exports, which has not exceeded $10.6 million for the last many year, as compared to India
Published 06 Mar, 2004 12:00am
LCCI team returns from India

LCCI team returns from India

A 72-member trade delegation of the Lahore Chamber of Commerce and Industry (LCCI) led by its President Mian Anjum Nisar on Friday returned home through Wagha after undertaking tour of five cities of India.
Published 06 Mar, 2004 12:00am
Three BoP officials remanded

Three BoP officials remanded

An accountability court granted physical remand of three senior officials of Bank of Punjab (BoP) including Chaudhry Younas former Vice President, Masood Ahmad Sheikh former General Manager (Finance) and Dr Asif Hafeez Sheikh bank's ex-group Executive Dir
Published 06 Mar, 2004 12:00am
Call for duty cut on steel raw material

Call for duty cut on steel raw material

The LCCI acting president Shahzad Ali Malik has called upon the government to bring down import duty on steel raw material to 5 percent in order to overcome the crisis arising out of repeated increase in steel products.
Published 06 Mar, 2004 12:00am
16-man squad for first two ODIs announced

16-man squad for first two ODIs announced

Pakistan Cricket selectors have announced 16-member cricket team, headed by Inzamam-ul-Haq, for the first two one-day internationals (ODIs) against India to be played at Karachi and Rawalpindi on March 13 and 16, respectively.
Published 06 Mar, 2004 12:00am
PCDMA to be informed about members' blacklisting

PCDMA to be informed about members' blacklisting

Pakistan Chemicals and Dyes Merchants' Association Chairman Mohammed Sabir Chippa said on Thursday that its members discharge more than 95 percent sales tax liability at the import stage and have to go through a series of problems for less than 5 percent
Published 06 Mar, 2004 12:00am
Aijaz Qureshi takes over as Sida acting managing director

Aijaz Qureshi takes over as Sida acting managing director

Professor Aijaz Ahmed Qureshi, general manager, transmission, Sindh Irrigation and Drainage Authority (Sida), has taken over the charge as acting managing director in place of Rafiq Safi Munshey who has been promoted in Grade 21 and reverted to his parent
Published 06 Mar, 2004 12:00am
PMC materials' inclusion in ATT list opposed

PMC materials' inclusion in ATT list opposed

The decision of the Economic Co-ordination Committee (ECC) to add 14 items, including plastic moulding compound (PMC) materials which also includes plastic materials in the list of Afghan Transit Trade (ATT), will have a devastating impact on the local in
Published 06 Mar, 2004 12:00am
Abad suggests securitisation of loans

Abad suggests securitisation of loans

The Association of Builders and Developers (Abad) has suggested that the government should securitise loans given by banks for those who cannot provide documentation.
Published 06 Mar, 2004 12:00am
LHCBA slates poor law and order

LHCBA slates poor law and order

The Lahore High Court Bar Association (LHCBA), while condemning the deteriorating law and order situation, asked the government to step down accepting its failure towards maintaining peace.
Published 06 Mar, 2004 12:00am
Nazim for speedy implementation on Education City project

Nazim for speedy implementation on Education City project

City Nazim Naimatullah Khan has called for an early and speedy implementation on the proposed project of Education City on an area of 8,000 acres at the Link Road between National and Super highways.
Published 06 Mar, 2004 12:00am
Number of HIV/AIDS cases reach alarming proportions

Number of HIV/AIDS cases reach alarming proportions

Health practitioners have expressed concern over alarming increase in HIV/AIDS patients, particularly among the addicts, using drugs through infected injections in the country.
Published 06 Mar, 2004 12:00am
TV REVIEW: Networks should film Pakistan's wildlife

TV REVIEW: Networks should film Pakistan's wildlife

For more than half a century J.R.R. Tolkien's classics 'Rings' trilogy sat on the shelves, un-read and catching dust, till Peter Jackson wandered into its middle world. He read it and then read it, again and again, conjuring up a world of fantasy he was s
Published 06 Mar, 2004 12:00am
BRIDGE NOTES: 'Bridge future is bright', says Indian stalwart

BRIDGE NOTES: 'Bridge future is bright', says Indian stalwart

Andhra Pradesh is a progressive province of south India, taking developmental strides in many spheres of life that can be compared with other advanced and flourishing states of that country. But the sporting activities have yet to pick up the desired temp
Published 06 Mar, 2004 12:00am
Demonstration against price spiral

Demonstration against price spiral

A large number of trade union workers and representatives of 'Pakistan Workers Confederation' agitating against price spiral in the country, held protest outside Lahore Press Club on Friday.
Published 06 Mar, 2004 12:00am
SPORTS WORLD: PCB continuing policy to appease foreign teams

SPORTS WORLD: PCB continuing policy to appease foreign teams

Though the Pakistan Cricket Board (PCB) is being praised for keeping the series with India alive, the fact is that it is the monetary gains, which prevailed over the people's interests, especially that of the fans of Pakistan's biggest city Karachi. The w
Published 06 Mar, 2004 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 06 Mar, 2004 12:00am
SPORTS WORLD: The first one-day brush with the Indians

SPORTS WORLD: The first one-day brush with the Indians

The first limited-over match, played on Jan 5, 1971, at the Melbourne cricket ground, completely revolutionalised the game. It was hastily arranged, outside the previously agreed itinerary between Australia and England, on the last day of the third Test a
Published 06 Mar, 2004 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 06 Mar, 2004 12:00am
SPORTS WORLD: Doubts about tour removed

SPORTS WORLD: Doubts about tour removed

Any doubt that the Indian squad will leave the field and pack up for travel back to its country if any stray stone or battle-throwing incident takes place anywhere in Pakistan has been removed by a clear-cut statement by the President of the Indian cricke
Published 06 Mar, 2004 12:00am
ACCA enjoys successful year

ACCA enjoys successful year

The Associated of Certified Chartered Accountants (ACCA) Pakistan has enjoyed a successful year adding 595l students. This now makes a total of 14,144..
Published 06 Mar, 2004 12:00am
Anwer Ahsan's two new short story collections

Anwer Ahsan's two new short story collections

Is Dasht Ki Tanhai and Raqsan Sar-e-Bazar are two new collections of novelettes by Anwer Ahsan Siddiqui whose novel Lahoo Phir Tapka published a few months back, portraying the real picture of Karachi in its evolution during the last fifty years, was high
Published 06 Mar, 2004 12:00am
SBP chief managers moot on March 6

SBP chief managers moot on March 6

One day national conference of all the Chief Managers of State Bank of Pakistan (SBP) will be held here on Saturday, March 6 and will be presided over by Managing Director SBP, Liaqat Durrani.
Published 06 Mar, 2004 12:00am
Vitamin A deficiency leads to children's blindness

Vitamin A deficiency leads to children's blindness

Good health needs balanced diet and a balanced diet is that which contains normal proportion of elements - carbohydrates, fats, iron, vitamins and proteins etc. If any person does not get some of these essential elements, his health is adversely affected.
Published 06 Mar, 2004 12:00am
Plastic Asia fair to open on March 19

Plastic Asia fair to open on March 19

All the arrangements have been finalised to organise three-day Plastic Asia Exhibition 2004 on March 19 to 21 at Lahore.
Published 06 Mar, 2004 12:00am
LAHORE CULTURAL DIARY: A mixed bag of activities

LAHORE CULTURAL DIARY: A mixed bag of activities

Number of cultural activities this past week in Lahore was fewer when compared with those held in recent weeks due to the advent of Muharram. A concert by Indian Ghazal singer, book fair at Lahore Arts Council, a mushaira at a local college and an exhibit
Published 06 Mar, 2004 12:00am
'New reservoirs crucial for uplift'

'New reservoirs crucial for uplift'

In view of looming threat of acute water shortage in the country, storage enhancement is need of the hour as the existing storage capacity is too short of demand.
Published 06 Mar, 2004 12:00am
Depletion of ozone layer

Depletion of ozone layer

Ozone (O3) is a nascent form of oxygen. It has three oxygen atoms instead of the normal two. High concentrations of ozone in the stratosphere are known as ozone layer, which extends from 15 to 50 kilometers above the earth's surface.
Published 06 Mar, 2004 12:00am
CAPITAL CULTURAL SCENE: Art galleries humming with activities

CAPITAL CULTURAL SCENE: Art galleries humming with activities

With spring in the air, the whole range of colours is erupting all around through the flowers that make nature a work of art. The February winds and the wild flora gives an awe inspiring and a passionate feeling and one is in the mood to do things, which
Published 06 Mar, 2004 12:00am
Pervez's works inspiring but difficult to describe

Pervez's works inspiring but difficult to describe

The sixty-plus generation susceptible to new ideas and changes that have affected the life style of the younger generation, were seen correcting their opinion about themselves at the VM Art Gallery where Ahmed Pervez's work was on display.
Published 06 Mar, 2004 12:00am
Majlis-i-Amal ready to co-operate with ARD

Majlis-i-Amal ready to co-operate with ARD

Muttahida Majlis-i-Amal (MMA) has no enmity or differences with Alliance for Restoration of Democracy (ARD) and it is ready to co-operate with it for the supremacy of the constitution, Parliament and restoration of true democracy and Islamic order in the
Published 06 Mar, 2004 12:00am
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