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Print - 2004-03-17
Spain's likely economy minister backs Spaniards for IMF and ECB

Spain's likely economy minister backs Spaniards for IMF and ECB

The man tipped to become Spain's next economy minister under the new Socialist government said on Monday he backs Spaniards Rodrigo Rato and Jose Manuel Gonzalez-Paramo as they vie for jobs at the International Monetary Fund and European Central Bank.
Published 17 Mar, 2004 12:00am
US Treasury gains tempered by BoJ question mark

US Treasury gains tempered by BoJ question mark

US Treasury prices backed off early highs on Monday as worries the Bank of Japan might slow massive purchases of dollar in the foreign exchange market tempered initial safe-haven buying of bonds.
Published 17 Mar, 2004 12:00am
US Treasury gains tempered by BoJ question mark

US Treasury gains tempered by BoJ question mark

US Treasury prices backed off early highs on Monday as worries the Bank of Japan might slow massive purchases of dollar in the foreign exchange market tempered initial safe-haven buying of bonds.
Published 17 Mar, 2004 12:00am
Malaysian share index ends lower

Malaysian share index ends lower

Malaysia's key share index snapped a three-day winning streak to finish lower on Tuesday, as investors took profit on heavyweights like phone firm Telekom Malaysia.
Published 17 Mar, 2004 12:00am
Hong Kong shares end higher

Hong Kong shares end higher

Hong Kong's top share index rose for the first time in six sessions on Tuesday, eking out gains as investors fished for bargains, particularly in the property sector.
Published 17 Mar, 2004 12:00am
US stocks slip sharply, security fears heighten

US stocks slip sharply, security fears heighten

US stocks ended sharply lower on Monday, sending the major market indexes to fresh lows for the year, as some investors abandoned the market on signs that al Qaeda may have been behind the Madrid bombings, spurring worries about more violence.
Published 17 Mar, 2004 12:00am
Jakarta stocks slump on global security concerns

Jakarta stocks slump on global security concerns

The Jakarta Composite Index fell more than three percent in late afternoon trade on Tuesday amid renewed global security concerns following bombings in Madrid last week that killed 200 people and wounded 1,500.
Published 17 Mar, 2004 12:00am
Thai stocks sink amid post-Madrid bomb gloom

Thai stocks sink amid post-Madrid bomb gloom

Thai shares fell for a third straight day on Tuesday, in tune with overseas markets worried about security issues in the wake of the Madrid bombs, but they did bounce off the day's low.
Published 17 Mar, 2004 12:00am
Philippines stocks end flat

Philippines stocks end flat

Philippines stocks closed little changed on Tuesday, with the benchmark index ticking down to a three-month low after the largest US pension fund delayed a decision on withdrawing from the market.
Published 17 Mar, 2004 12:00am
Singapore shares down, banks under pressure

Singapore shares down, banks under pressure

Singapore shares, which broke a six-day fall on Monday, returned to losing streak on Tuesday on worries over the sustainability of economic recovery.
Published 17 Mar, 2004 12:00am
Tokyo stocks decline, but retailers in demand

Tokyo stocks decline, but retailers in demand

Japanese stocks ended lower on Tuesday as Tokyo Electron and other high-tech shares dropped on concern that security problems would hurt leading economies, but retail and property stocks gained on Japanese recovery hopes.
Published 17 Mar, 2004 12:00am
Sri Lankan stocks dip

Sri Lankan stocks dip

Sri Lankan stocks fell on Tuesday, reversing early gains because of a 36 percent slide in plantations management firm Carson Cumberbatch and Co Ltd.
Published 17 Mar, 2004 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

Blue chips held onto gains on Tuesday as investors were cheered by an upbeat earnings outlook from manufacturer 3M Co, but advances on Nasdaq were tempered ahead of upcoming results from a Federal Reserve meeting and by persistent security fears.
Published 17 Mar, 2004 12:00am
Bonds: Rail issue steals show

Bonds: Rail issue steals show

Strong demand for Network Rail's new sterling bond led to the deal being increased in size on Tuesday, while in the secondary market auto and telecoms bonds were ticking higher, in line with positive stock markets.
Published 17 Mar, 2004 12:00am
Bonds: Rail issue steals show

Bonds: Rail issue steals show

Strong demand for Network Rail's new sterling bond led to the deal being increased in size on Tuesday, while in the secondary market auto and telecoms bonds were ticking higher, in line with positive stock markets.
Published 17 Mar, 2004 12:00am
Britain's top share index closes higher

Britain's top share index closes higher

Britain's benchmark share index closed higher on Tuesday, as British Airways led a bounce in stocks hit hardest by worry about global security following last week's Madrid attacks.
Published 17 Mar, 2004 12:00am
India rupee flat against US dollar

India rupee flat against US dollar

The Indian rupee ended steady on Tuesday and failed to rise above the key 45.23 per dollar level despite robust foreign investment inflows, which dealers attributed to possible central bank intervention. The Indian unit closed at 45.2400/2475 per dollar,
Published 17 Mar, 2004 12:00am
Hong Kong dollar firms

Hong Kong dollar firms

The Hong Kong dollar extended gains on Tuesday, taking its cue from the Japanese yen's rise against the US dollar and as some players continued to unwind long USD positions.
Published 17 Mar, 2004 12:00am
Bangladeshi taka ends steady

Bangladeshi taka ends steady

The Bangladeshi taka closed steady on Tuesday, helped by dollar inflows from exports and expatriate remittances, dealers said.
Published 17 Mar, 2004 12:00am
Chinese yuan unchanged versus US dollar

Chinese yuan unchanged versus US dollar

The yuan ended unchanged versus the US dollar at 8.2773 on Tuesday, remaining near the stronger end of its managed trading range.
Published 17 Mar, 2004 12:00am
Swiss franc firms on safe-haven demand

Swiss franc firms on safe-haven demand

The Swiss franc firmed against the dollar early on Tuesday as concerns of further terrorist attacks after last Thursday's train bombs in Madrid stoked demand for safe-have assets such as the Swiss currency.
Published 17 Mar, 2004 12:00am
Dollar see-saws against yen after suspected intervention

Dollar see-saws against yen after suspected intervention

The dollar see-sawed against the yen on Tuesday in erratic trade that saw the US currency spike up earlier on suspected Japanese intervention amid talk Tokyo may consider scaling back yen-selling operations.
Published 17 Mar, 2004 12:00am
Dollar slips on report Japan may end intervention

Dollar slips on report Japan may end intervention

The dollar retreated on Monday as a report that Japan's central bank is considering scaling back intervention added to dollar-negative variables like last week's bombings in Spain pressuring the currency.
Published 17 Mar, 2004 12:00am
Australian dollar higher

Australian dollar higher

The Australian dollar inched higher in a narrow range on Tuesday as global investors await the latest thinking on interest rates from the US Federal Reserve.
Published 17 Mar, 2004 12:00am
Sterling gains against dollar

Sterling gains against dollar

Sterling gained on the dollar and held steady on the euro on Tuesday after weaker than expected British inflation data did little to dampen expectations that British interest rates still have room to rise.
Published 17 Mar, 2004 12:00am
Dollar falls across the board

Dollar falls across the board

The dollar fell across the board on Tuesday, yielding almost one percent to the yen after an influential newspaper said Tokyo could end its policy of selling yen for dollars by the end of the month.
Published 17 Mar, 2004 12:00am
Ugandan massacre toll rises to 337

Ugandan massacre toll rises to 337

Rebels killed at least 337 people last month in Uganda's worst massacre in years, a United Nations Children's Fund (UNICEF) official said on Tuesday.
Published 17 Mar, 2004 12:00am
Dalai Lama seeks talks with China over Tibet

Dalai Lama seeks talks with China over Tibet

The Dalai Lama said on Tuesday he was willing to negotiate with China on the future of Tibet but the Chinese still remained deeply suspicious.
Published 17 Mar, 2004 12:00am
Dead soldiers' families gather at White House

Dead soldiers' families gather at White House

Some 200 protestors, including families of soldiers killed in Iraq, gathered Monday in front of the White House to demand an end to the US occupation of Iraq.
Published 17 Mar, 2004 12:00am
Haiti needs long-term help, says Annan

Haiti needs long-term help, says Annan

The international community and countries such as the United States should remain engaged in Haiti long after United Nations peacekeepers leave, Secretary General Kofi Annan said in an opinion piece in the Wall Street Journal on Tuesday.
Published 17 Mar, 2004 12:00am
Iranian parliament seeks ruling on woman president

Iranian parliament seeks ruling on woman president

Iran's pro-reform parliament has asked a constitutional watchdog of religious hard-liners to rule on whether a woman can run for president in the Islamic Republic, the official IRNA news agency reported late on Monday.
Published 17 Mar, 2004 12:00am
Ukraine will keep troops in Iraq

Ukraine will keep troops in Iraq

Ukraine, with one of the largest contingents of troops in Iraq, said on Tuesday it would not pull its soldiers out of the troubled country, despite Spain's decision to do so and worries over their safety.
Published 17 Mar, 2004 12:00am
Nepal rebel landmine blast kills 11

Nepal rebel landmine blast kills 11

A truck carrying Nepali villagers and wildlife park employees ran over a landmine planted by Maoist rebels on Tuesday, killing 11 people, officials said.
Published 17 Mar, 2004 12:00am
Court poised to put away Swedish foreign minister killer

Court poised to put away Swedish foreign minister killer

A Swedish court brushed aside last-ditch attempts to get the man convicted of murdering Swedish foreign minister Anna Lindh off the hook on Tuesday, clearing the way for a possible life sentence next week.
Published 17 Mar, 2004 12:00am
Ten new EU states behind in preparations to join

Ten new EU states behind in preparations to join

All 10 countries joining the European Union in May are behind with preparations with just six weeks to go before they enter the bloc, a spokesman for the EU's executive Commission said on Tuesday.
Published 17 Mar, 2004 12:00am
Lithuanian court starts hearings against Paksas

Lithuanian court starts hearings against Paksas

Lithuania's Constitutional Court began impeachment hearings against President Rolandas Paksas on Tuesday after refusing a request by his lawyers to suspend all the judges for being partial.
Published 17 Mar, 2004 12:00am
Turkey warns against escalation in Georgia

Turkey warns against escalation in Georgia

Turkish Foreign Minister Abdullah Gul warned Georgia and its breakaway Adjara region on Tuesday that any escalation in their dispute over sovereignty would destabilise the whole region, Anatolia news agency reported.
Published 17 Mar, 2004 12:00am
Sistani wants UN back in Iraq

Sistani wants UN back in Iraq

Iraq's Shia leader distanced himself from Iraqis who oppose the return of the United Nations and said he wants the world body to play a role in the country's future, a senior UN official said on Tuesday.
Published 17 Mar, 2004 12:00am
Spain pursues Moroccan link

Spain pursues Moroccan link

Spanish police on Tuesday hunted Moroccan militants suspected of links to bombs that killed 201 people on Madrid trains and propelled the opposition Socialists into power at a general election.
Published 17 Mar, 2004 12:00am
New US army unit takes over control of Tikrit

New US army unit takes over control of Tikrit

The US army unit which caught Saddam Hussein handed control of north-central Iraq to a new division in a ceremony here Tuesday marked by military songs and pledges to help Iraqis "rendezvous" with democracy.
Published 17 Mar, 2004 12:00am
France and Germany cool on 'European CIA' proposal

France and Germany cool on 'European CIA' proposal

France and Germany on Tuesday played down talk of creating a "European CIA" in the wake of the deadly Madrid train bombings, saying the priority was to boost co-operation between existing intelligence services.
Published 17 Mar, 2004 12:00am
Bush prods Kerry to name leaders who want him out

Bush prods Kerry to name leaders who want him out

US President George W. Bush said on Tuesday that his Democratic rival John Kerry should back up his comments that foreign leaders want to see the Republican president defeated.
Published 17 Mar, 2004 12:00am
Four US relief workers and two Germans killed in Iraq

Four US relief workers and two Germans killed in Iraq

Gunmen killed four US relief workers affiliated with a Christian evangelical church and an Iraqi woman working as a translator for the US army as insurgents made civilians their target of choice.
Published 17 Mar, 2004 12:00am
Kuwait to demand death sentence for Saddam

Kuwait to demand death sentence for Saddam

Kuwait will demand that Saddam Hussein be sentenced to death for crimes against the oil-rich Gulf Arab state, public prosecutor Hamed al-Othman said in remarks published on Tuesday.
Published 17 Mar, 2004 12:00am
Saudi Arabia arrests five reformers

Saudi Arabia arrests five reformers

Five Saudi reformers, advocating a constitutional monarchy, were arrested on Tuesday by security officers, according to one of the five and a London-based opposition group.
Published 17 Mar, 2004 12:00am
24 killed in Russian apartment blast

24 killed in Russian apartment blast

At least 24 people, including three children, were killed and dozens more feared dead Tuesday after an explosion at an apartment building in northern Russia that officials said was likely caused by a gas leak.
Published 17 Mar, 2004 12:00am
Two Palestinians killed in air strike

Two Palestinians killed in air strike

Israel killed two Palestinians in an air strike into Gaza City on Tuesday, launching what it said would be relentless military action against militants after a suicide bombing at a strategic port, witnesses and medics said.
Published 17 Mar, 2004 12:00am
Two escaped suspects in USS Cole bombing surrender

Two escaped suspects in USS Cole bombing surrender

Two suspects in the USS Cole bombing who escaped from jail last year have surrendered to authorities in Yemen's southern Abyan province and a third suspect was arrested, a security source said on Tuesday.
Published 17 Mar, 2004 12:00am
Middle East reform should be home-grown: Kuwait

Middle East reform should be home-grown: Kuwait

Kuwait said on Tuesday it backed political reform in the Middle East but any changes should be home-grown, in an apparent rebuff to Washington's "Greater Middle East Initiative".
Published 17 Mar, 2004 12:00am
Bush urges Iraq-war allies to stick with US

Bush urges Iraq-war allies to stick with US

US President George W. Bush on Tuesday urged European allies to stick with the United States in Iraq, and the White House said it may seek a new UN resolution to help persuade Spain not to withdraw its troops.
Published 17 Mar, 2004 12:00am
'Imani Kanda' to weigh farm products in Faisalabad soon

'Imani Kanda' to weigh farm products in Faisalabad soon

Under a pilot project of the district government, an "Imani Kanda" would be installed in the district for weighing the agricultural commodities so that the farmers could be saved from the negative tactics of the exploiters.
Published 17 Mar, 2004 12:00am
Kazi asks for audit of CDGK and district governments

Kazi asks for audit of CDGK and district governments

Sindh Chief Secretary, Dr Mutawakkil Kazi has asked the additional chief secretary local government and secretary finance to ensure two year audit of City District Government Karachi and district governments in Sindh.
Published 17 Mar, 2004 12:00am
Nehra out of one-dayers

Nehra out of one-dayers

India's already depleted bowling resources on the Pakistan tour were hit further on Tuesday when Ashish Nehra was ruled out for the rest of the one-day series.
Published 17 Mar, 2004 12:00am
Netherlands to hold triangular

Netherlands to hold triangular

India, Pakistan and world champions Australia will play a one-day triangular tournament in the Netherlands in August, the chief executive of the Pakistan Cricket Board said on Tuesday.
Published 17 Mar, 2004 12:00am
Pakistan defy Tendulkar heroics to beat India

Pakistan defy Tendulkar heroics to beat India

Sachin Tendulkar surpassed 13,000 one-day runs with his 37th century on Tuesday, but could not prevent Pakistan from defeating India by 12 runs in the second one-dayer here.
Published 17 Mar, 2004 12:00am
Pakistan defy Tendulkar heroics to beat India

Pakistan defy Tendulkar heroics to beat India

Sachin Tendulkar surpassed 13,000 one-day runs with his 37th century on Tuesday, but could not prevent Pakistan from defeating India by 12 runs in the second one-dayer here.
Published 17 Mar, 2004 12:00am
Come Thackeray, come

Come Thackeray, come

There are reports in the Indian print media that the Pakistan Cricket Board is expected to extend invitation to Indian Prime Minister Atal Bihari Vajpayee, Opposition leader Sonia Gandhi, her son Rahul and daughter Priyanka and last but not the least the
Published 17 Mar, 2004 12:00am
Pre-budget inflation

Pre-budget inflation

It is unfortunate that before the federal budget, prices of commodities like milk, flour, sugar etc, have gone up whereas the transport fares have already been increased.
Published 17 Mar, 2004 12:00am
Casting votes still means voting castes in India

Casting votes still means voting castes in India

Balwanti Devi and Apna Devi still shake with emotion when they remember the night their men were dragged away by an angry mob and gunned down in the fields of northern India.
Published 17 Mar, 2004 12:00am
Virtual supercomputers join hunt for new drugs

Virtual supercomputers join hunt for new drugs

The humble personal computer used to send e-mail or surf the Internet could quietly be finding a way to stop cancer, treat smallpox or counter a bio terror attack with anthrax spores.
Published 17 Mar, 2004 12:00am
President Musharraf's straight talk and Indian reaction

President Musharraf's straight talk and Indian reaction

What General Pervez Musharraf had to say, via satellite to a gathering of distinguished Indians at the India Today Conclave - also aired by an Indian satellite TV channel and two local channels - last Saturday, must have cleared public confusion about cer
Published 17 Mar, 2004 12:00am
NEC meeting

NEC meeting

The National Economic Council (NEC) meeting held under the chairmanship of Prime Minister Zafarullah Khan Jamali on 15th March, 2004 reviewed the performance of the economy and took certain decisions of vital importance.
Published 17 Mar, 2004 12:00am
Badin farmers switch to sunflower

Badin farmers switch to sunflower

A large number of farmers and agriculturists in Badin district have switched to sunflower farming after they suffered huge losses on sugarcane cultivation.
Published 17 Mar, 2004 12:00am
What caused wheat crisis in Sindh?

What caused wheat crisis in Sindh?

Wheat shortage in Sindh has been created due to mismanagement by various government functionaries, flour-mills, chakky owners, wheat traders and middlemen, resulting in atta price sky-rocketing to Rs 16 per kg and even to Rs 20 in some areas.
Published 17 Mar, 2004 12:00am
KPC AGCM on March 27

KPC AGCM on March 27

The annual general council meeting (AGCM) of the Karachi Press Club (KPC) will be held on Saturday (March 27) at 16:00 hours to approve annual report for the year 2003-04, audit report and appointment of auditor for the next year, Secretary KPC Khursheed
Published 17 Mar, 2004 12:00am
World Bank officials assure release of funds to NWFP

World Bank officials assure release of funds to NWFP

World Bank Vice President for South Asian Region, Raphil Tapil in a meeting with the NWFP Chief Minister Akram Khan Durrani has assured to release funds for Structural Adjustment Credit (SAC-II) to NWFP soon.
Published 17 Mar, 2004 12:00am
UK naval chief in Karachi

UK naval chief in Karachi

Admiral Sir Alan West, First Sea Lord and Chief of Naval Staff of British Navy, arrived here on Monday evening.
Published 17 Mar, 2004 12:00am
Need stressed for well-being of womenfolk of rural areas

Need stressed for well-being of womenfolk of rural areas

The First Lady of Pakistan Begum Sehba Musharraf has stressed the need of taking concrete measures for the wellbeing of women folk of rural areas and said that the Asia Pacific Committee for Women Development would provide an effective platform in this co
Published 17 Mar, 2004 12:00am
Lahore Chamber seminar

Lahore Chamber seminar

The LCCI TQM Bureau is organising a two-day seminar on "Effective Hiring & Interviewing Skills" here on Wednesday (March 17).
Published 17 Mar, 2004 12:00am
Action against cops directed

Action against cops directed

The Lahore High Court (LHC) directed the District Police Officer (DPO) Sargodha to get registered the case against the responsible policemen who entered the petitioner's house without any warrant.
Published 17 Mar, 2004 12:00am
Absconder withdraws petition

Absconder withdraws petition

Former Chairman Zila Council, Lahore, Chaudhry Shaukat Ali, has withdrawn a petition from the Lahore High Court (LHC) in which he prayed to surrender himself before the court.
Published 17 Mar, 2004 12:00am
Transfer and posting

Transfer and posting

DSP Mohammad Bashir has been transferred and posted from SDPO Jehanian District Khanewal to DSP Investigation Sahiwal against an existing vacancy with immediate effect.
Published 17 Mar, 2004 12:00am
Reforms undertaken in education sector

Reforms undertaken in education sector

Punjab government has undertaken reforms in education sector and a number of steps have been taken to monitor successful completion of the same.
Published 17 Mar, 2004 12:00am
Multipurpose stadium in Lahore soon

Multipurpose stadium in Lahore soon

Punjab government has constituted a three-member committee headed by the Punjab Sports Secretary to identify a site for the construction of a multi-purpose stadium in the city.
Published 17 Mar, 2004 12:00am
Foundation of hospital block laid

Foundation of hospital block laid

District Nazim Mian Amer Mahmood on Tuesday laid foundation stone of new emergency block at Mian Muhammad Munshi Hospital situated at Band Road, which would be completed at a cost of Rs 18.28 million within one-year.
Published 17 Mar, 2004 12:00am
Anti-Israel feelings on rise in Europe

Anti-Israel feelings on rise in Europe

'Had US solved the Middle East problem, the incident of 9/11 would not have occurred. After the invasion of Afghanistan and Iraq by allied forces, there are signs that anti Israel feelings in European as well as American countries considering her as terro
Published 17 Mar, 2004 12:00am
Global fund for AIDS okays $4.2 million for Pakistan

Global fund for AIDS okays $4.2 million for Pakistan

The government has planned to conduct a study to ascertain whether the high prevalence of tuberculosis (TB) in Pakistan has any relation with AIDS as seen in some other countries particularly poor and under developed countries.
Published 17 Mar, 2004 12:00am
Tenders opening for MIS on March 17

Tenders opening for MIS on March 17

Punjab Industrial Estates Development and Management Company (PIEDMC) will be opening tenders for rehabilitation of Multan Industrial Estate (MIS) on March 17.
Published 17 Mar, 2004 12:00am
Pesticide makers demand withdrawal of SRO

Pesticide makers demand withdrawal of SRO

Pesticides Manufacturers Association (PMA) has demanded of the government to withdraw Statutory Regulatory Order relating to packing, distribution of pesticides and an applicable pesticides policy be announced forthwith otherwise 13,000 people attached wi
Published 17 Mar, 2004 12:00am
Wheat target to be achieved, says minister

Wheat target to be achieved, says minister

The wheat target fixed by the government will be achieved as the crop is in good condition, and weather conditions are most conducive, said Punjab Agriculture Minister Arshad Khan Lodhi.
Published 17 Mar, 2004 12:00am
The Weather

The Weather

The weather report on Tuesday (March 16) and the forecast of Wednesday (March 17, 2004).
Published 17 Mar, 2004 12:00am
Solar dates drying system developed

Solar dates drying system developed

National Agricultural Research Centre (Narc) has developed a solar dates drying system to minimise the post-production losses of dates, which are estimated to be around 50 percent of the total production.
Published 17 Mar, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Monday.
Published 17 Mar, 2004 12:00am
FTO favours refresher courses for tax officials

FTO favours refresher courses for tax officials

Federal Tax Ombudsman Justice Salim Akhtar (Retd) has suggested that discretionary powers of tax collectors, appraisers, and assessment officials must be reduced to provide a relief to the taxpayers and government should organise refresher and training co
Published 17 Mar, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Monday.
Published 17 Mar, 2004 12:00am
Jamiat Mashaikh Pakistan demands national government

Jamiat Mashaikh Pakistan demands national government

Jamiat Mashaikh Pakistan (JMP) chief Pir Fazal Haq has alleged that Jamali government is creating hurdles in the way of Benazir Bhutto and Nawaz Sharif coming back to Pakistan.
Published 17 Mar, 2004 12:00am
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