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May 03, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-04-02
Japanese firms happiest in seven years, recovery spreads

Japanese firms happiest in seven years, recovery spreads

More Japanese companies felt business was better in March than at any time in almost seven years, a closely watched Bank of Japan report showed on Thursday, a further sign a recovery is spreading throughout the economy.
Published 02 Apr, 2004 12:00am
South Korean banks declare war on Citigroup

South Korean banks declare war on Citigroup

South Korea's largest lender Kookmin Bank declared "war" on Citigroup Thursday as the US group's acquisition of a major local bank sparks tougher competition in retail banking.
Published 02 Apr, 2004 12:00am
Ericsson first-quarter gross margin beats forecasts

Ericsson first-quarter gross margin beats forecasts

Cost cuts boosted the first-quarter gross margin at Ericsson above its own forecasts, the Swedish telecoms equipment maker said on Thursday, sending its shares sharply higher.
Published 02 Apr, 2004 12:00am
Ericsson first-quarter gross margin beats forecasts

Ericsson first-quarter gross margin beats forecasts

Cost cuts boosted the first-quarter gross margin at Ericsson above its own forecasts, the Swedish telecoms equipment maker said on Thursday, sending its shares sharply higher.
Published 02 Apr, 2004 12:00am
IMF cuts Germany, ups UK, Japan GDP forecasts

IMF cuts Germany, ups UK, Japan GDP forecasts

The IMF has revised earlier drafts of its soon-to-be-published World Economic Outlook, trimming growth forecasts for the euro zone but upping them for Britain and Japan, a German newspaper reported on Thursday.
Published 02 Apr, 2004 12:00am
US jobless claims dip, wholesale prices contained

US jobless claims dip, wholesale prices contained

US wholesale prices barely budged in February while claims for jobless benefits dipped a bit last week, according to government reports on Thursday that could sooth budding inflation fears and fuel hopes the moribund job market will soon revive.
Published 02 Apr, 2004 12:00am
Small Titan covets big China oil opportunity

Small Titan covets big China oil opportunity

With China set to open its lucrative wholesale oil distribution market in 2006, small oil services firm Titan (Holdings) Ltd is investing with an eye to battling global and domestic giants.
Published 02 Apr, 2004 12:00am
Teradata hosts 5th national awards ceremony

Teradata hosts 5th national awards ceremony

Teradata, a division of NCR (NYSE: NCR), hosted the fifth national awards ceremony at the Islamabad Convention Centre to recognise outstanding information technology professionals in nine different categories.
Published 02 Apr, 2004 12:00am
Nigeria sees oil price easing to $28 Opec basket

Nigeria sees oil price easing to $28 Opec basket

World oil prices should fall during the second quarter as seasonal crude demand eases, Nigeria's Presidential Advisor on Energy Edmund Daukoru said on Thursday.
Published 02 Apr, 2004 12:00am
Maruti's March vehicle sales up 13 percent

Maruti's March vehicle sales up 13 percent

India's biggest carmaker, Maruti Udyog Ltd, reported a 30.3 percent jump in unit sales in 2003/04 as robust GDP growth and low interest rates boosted car demand in Asia's third-largest economy.
Published 02 Apr, 2004 12:00am
S&P says Philippine downgrade possible before poll

S&P says Philippine downgrade possible before poll

Political developments ahead of May elections in the Philippines could prompt a credit rating downgrade if they worsen the economy's condition, but a change is not inevitable, rating agency Standard & Poor's said on Thursday.
Published 02 Apr, 2004 12:00am
Toyota's annual net profit seen to reach $10.6 billion

Toyota's annual net profit seen to reach $10.6 billion

Japan's largest auto-maker Toyota is expected to report a record 1.1 trillion yen (10.6 billion dollars) net profit for the year to March thanks to brisk sales overseas, the Asahi Shimbun reported Thursday.
Published 02 Apr, 2004 12:00am
Housing, AUD threats to Australia's economy: Fitch

Housing, AUD threats to Australia's economy: Fitch

Fitch Ratings affirmed Australia's ratings and stable outlook on Thursday but said currency strength and a heated housing market were the two main threats to the economy.
Published 02 Apr, 2004 12:00am
Debt deal key for Argentine future: IMF and US

Debt deal key for Argentine future: IMF and US

Argentina must do a deal with its creditors or risk missing out on crucial foreign investment in the future, the International Monetary Fund and United States' Treasury said on Wednesday.
Published 02 Apr, 2004 12:00am
Swiss prices slip in March, inflation at 20-month low

Swiss prices slip in March, inflation at 20-month low

Swiss consumer prices were fractionally lower in March than a year earlier, with declines in clothing and shoe costs dragging the overall index to a 20-month low, data showed on Thursday.
Published 02 Apr, 2004 12:00am
Software exports shore up India's current account surplus

Software exports shore up India's current account surplus

Higher software exports and rising earnings from an industry that provides back-office services helped India's current account surplus double to $1.8 billion in the October-December quarter from a year earlier.
Published 02 Apr, 2004 12:00am
US Treasury prices rise

US Treasury prices rise

US Treasury prices rose on Wednesday as fund managers bought back debt previously sold to square books before the end of the month and the quarter.
Published 02 Apr, 2004 12:00am
US Treasury prices rise

US Treasury prices rise

US Treasury prices rose on Wednesday as fund managers bought back debt previously sold to square books before the end of the month and the quarter.
Published 02 Apr, 2004 12:00am
Malaysian shares dip, banks hit

Malaysian shares dip, banks hit

Malaysia's key share index ended at a two-week low on Thursday, led by banking stocks as investors worry their earnings would be hurt by an impending interest rate change.
Published 02 Apr, 2004 12:00am
Hong Kong stocks end flat as holiday mood sets in

Hong Kong stocks end flat as holiday mood sets in

Hong Kong stocks ended nearly unchanged in light trade on Thursday with a poor trading debut from cellular firm Peoples providing a weak tone to the market and many investors sidelined ahead of a long weekend.
Published 02 Apr, 2004 12:00am
Dow and Nasdaq finish quarter with losses

Dow and Nasdaq finish quarter with losses

US stocks fell on Wednesday, leaving the Dow and the Nasdaq with their first quarterly losses in a year, after disappointing reports on factory orders and business conditions in the US Midwest raised fears about the economic rebound's staying power.
Published 02 Apr, 2004 12:00am
Jakarta stocks edge up

Jakarta stocks edge up

Jakarta stocks ended slightly higher on Thursday, helped by last minute buying in selected shares and hopes for higher revenues for the bourse's biggest firm, PT Telekomunikasi Indonesia (Telkom).
Published 02 Apr, 2004 12:00am
Thai stocks close 3.8 percent firmer

Thai stocks close 3.8 percent firmer

Thai stocks jumped 3.8 percent on Thursday as investors hunted for bargains after Finance Minister Somkid Jatusripitak promised measures to help the market and TPI gave details of its latest restructuring plan.
Published 02 Apr, 2004 12:00am
Sri Lankan stocks climb

Sri Lankan stocks climb

Sri Lanka stocks rose on Thursday on renewed interest in blue chips a day ahead of the island's general election, with foreign activity boosting volumes.
Published 02 Apr, 2004 12:00am
Philippines shares powered by telecom stocks

Philippines shares powered by telecom stocks

Philippines stocks closed higher for a third straight session on Thursday on bargain hunting in select blue chips, led by dominant phone firm PLDT and second-ranked Globe Telecom Inc.
Published 02 Apr, 2004 12:00am
Singapore shares soar for fourth straight day

Singapore shares soar for fourth straight day

Singapore shares ended higher for the fourth straight session on Thursday, led by blue chips such as contract electronics manufacturer Venture Corp and selective small-cap stocks.
Published 02 Apr, 2004 12:00am
Nikkei sags despite strong tankan, hurt by yen

Nikkei sags despite strong tankan, hurt by yen

Japanese stocks closed lower on Thursday as the yen's advance against the dollar hit exporters, offsetting gains in insurers and miners after the Bank of Japan's "tankan" report showed companies gaining in confidence.
Published 02 Apr, 2004 12:00am
Taiwan stocks slightly changed

Taiwan stocks slightly changed

Taiwan stocks closed virtually unchanged on Thursday as Wall Street falls weighed on sentiment, while memory chip shares like ProMOS Tech outperformed following recent hikes in chip prices.
Published 02 Apr, 2004 12:00am
South Korean shares end higher

South Korean shares end higher

South Korean shares closed slightly up on Thursday, with hopes for solid first-quarter earnings spurring foreign buying of technology shares, but profit-taking by domestic investors capping gains.
Published 02 Apr, 2004 12:00am
Indian shares hit three-week closing highs

Indian shares hit three-week closing highs

Indian shares rose nearly three percent to hit three-week closing highs on Thursday as investors bought stocks on expectations of strong growth in Asia's third-largest economy.
Published 02 Apr, 2004 12:00am
US Stocks: Thursday's unofficial close

US Stocks: Thursday's unofficial close

US stocks rose for the third session Thursday as investors welcomed news that factories are getting busier, jobless claims are waning and inflation remains low.
Published 02 Apr, 2004 12:00am
Bonds: Dutch utilities top losers

Bonds: Dutch utilities top losers

Dutch utility bonds led a decline in the European corporate bond markets on Thursday on fears deregulation in the Netherlands could weaken their finances, while autos and telecoms slid ahead of economic data.
Published 02 Apr, 2004 12:00am
Bonds: Dutch utilities top losers

Bonds: Dutch utilities top losers

Dutch utility bonds led a decline in the European corporate bond markets on Thursday on fears deregulation in the Netherlands could weaken their finances, while autos and telecoms slid ahead of economic data.
Published 02 Apr, 2004 12:00am
Britain's top share index climbs on US data; WPP strong

Britain's top share index climbs on US data; WPP strong

Britain's FTSE-100 index snapped out of a tight range in the last hour of trading to close higher on Thursday following strong US economic figures, with advertiser WPP a major gainer after a positive broker note.
Published 02 Apr, 2004 12:00am
Hong Kong dollar falls

Hong Kong dollar falls

The Hong Kong dollar edged off morning lows late on Thursday as major Asian currencies remained firm against the US dollar.
Published 02 Apr, 2004 12:00am
Chinese yuan notches stronger

Chinese yuan notches stronger

The yuan ended two notches stronger versus the dollar at 8.2768 on Thursday, remaining near the stronger end of its managed trading range.
Published 02 Apr, 2004 12:00am
Bangladeshi taka firms on lower imports

Bangladeshi taka firms on lower imports

The Bangladeshi taka extended its gains on Thursday as demand for the US dollar fell on lower import-related payments, dealers said.
Published 02 Apr, 2004 12:00am
Dollar falls against euro on rumours and US data

Dollar falls against euro on rumours and US data

The dollar weakened broadly on Wednesday, weighed by a rumour that Federal Reserve Chairman Alan Greenspan had a heart attack and further pressured by a weaker-than-expected US Midwest business activity index.
Published 02 Apr, 2004 12:00am
Asian currencies pushing ahead but still wary

Asian currencies pushing ahead but still wary

Asian currencies held their stronger tone on Thursday, pushing ahead without waiting for the Japanese yen's lead, though wariness of going too far and provoking a central bank response persisted.
Published 02 Apr, 2004 12:00am
Sterling hits one-month high

Sterling hits one-month high

Sterling hit a one-month high against the dollar on Thursday, tracking the firming euro following comments by European Central Bank President Jean-Claude Trichet that were more hawkish than expected.
Published 02 Apr, 2004 12:00am
Euro extends gains

Euro extends gains

The euro extended gains to fresh one-week highs against the dollar on Wednesday after the European Central Bank left interest rates unchanged, as expected.
Published 02 Apr, 2004 12:00am
30,000 take part in anti-king rally in Nepal

30,000 take part in anti-king rally in Nepal

About 30,000 people rallied in the Nepal's capital on Thursday to press King Gyanendra to fire a royalist prime minister and form an all-party government in the biggest anti-king rally in the Himalayan kingdom since 1990.
Published 02 Apr, 2004 12:00am
April Fool's pension joke falls flat

April Fool's pension joke falls flat

How's this for a government pension scheme: In lieu of payments, give eligible recipients five lottery tickets a year and a chance to win millions.
Published 02 Apr, 2004 12:00am
British immigration minister quits

British immigration minister quits

British Immigration Minister Beverley Hughes resigned on Thursday after officials exposed lax controls which allowed migrants from Romania and Bulgaria to enter the country with forged papers.
Published 02 Apr, 2004 12:00am
US envoys hold talks with Qorie

US envoys hold talks with Qorie

US envoys travelled to the Palestinian-run town of Jericho on Thursday for talks with Prime Minister Ahmed Qorie on an Israeli plan for a Gaza pullback which he said could give peace another chance.
Published 02 Apr, 2004 12:00am
Iran dismisses European criticism of atomic plant

Iran dismisses European criticism of atomic plant

Iran's ambassador to the UN in Vienna dismissed European criticism of Iran's uranium-conversion activities on Thursday and reaffirmed his country's commitment to nuclear co-operation with France, Germany and Britain.
Published 02 Apr, 2004 12:00am
China scolds US for radar sales to Taiwan

China scolds US for radar sales to Taiwan

China scolded the United States on Thursday for its planned sale of long-range early-warning radar worth up to $1.78 billion to Taiwan, which Beijing considers a breakaway province.
Published 02 Apr, 2004 12:00am
12 Palestinians arrested after gun battle

12 Palestinians arrested after gun battle

An hour-long gun battle raged at a psychiatric hospital in the West Bank town of Bethlehem early Thursday before Israeli forces arrested 12 Palestinians, sources on both sides said.
Published 02 Apr, 2004 12:00am
US lifts sanctions on Russian arms firms

US lifts sanctions on Russian arms firms

The United States on Thursday lifted sanctions on six Russian companies and a Russian arms expert it had imposed over the past nine years for arms and technology sales to rogue nations.
Published 02 Apr, 2004 12:00am
US promises overwhelming response to Iraq killings

US promises overwhelming response to Iraq killings

US troops on Thursday vowed to use overwhelming force to enter the volatile Iraqi town of Falluja and hunt down those who killed and mutilated four American contractors.
Published 02 Apr, 2004 12:00am
Raids across Europe on Turkish group; 54 detained

Raids across Europe on Turkish group; 54 detained

Police in five states across Europe detained 53 people on Thursday in co-ordinated dawn raids against Turkey's biggest far-left militant group, and Greece arrested another man suspected of links with the organisation.
Published 02 Apr, 2004 12:00am
EU urges Cypriots to back UN plan

EU urges Cypriots to back UN plan

The European Union appealed to Cypriots on Thursday to back a UN plan to reunite their island in an April 24 referendum, but majority Greek Cypriots said it made too many concessions to their Turkish Cypriot rivals.
Published 02 Apr, 2004 12:00am
Astronomers find 40 'dwarf' galaxies

Astronomers find 40 'dwarf' galaxies

Astronomers using the Anglo-Australian telescope in outback Australia announced on Thursday the discovery of more than 40 previously unknown "dwarf" galaxies in a constellation "on Earth's doorstep".
Published 02 Apr, 2004 12:00am
'Jihad' in Madrid planned in 2003

'Jihad' in Madrid planned in 2003

A Tunisian man wanted as a ringleader in the Madrid train bombings began agitating for "jihad" (holy war) in Madrid in mid-2003 if not earlier, according to arrest warrants released on Thursday.
Published 02 Apr, 2004 12:00am
Automotive Sector

Automotive Sector

The Automotive sector is the fore-runner amongst the engineering sectors which have shown impressive growth.
Published 02 Apr, 2004 12:00am
Automobile Market - The largest segments in world trade

Automobile Market - The largest segments in world trade

Auto market is one of the largest segments in world trade. This annual size of automotive export trade in the world has grown to a massive level of over US$ 600 billion, which accounts for about 10% of the world export.
Published 02 Apr, 2004 12:00am
Tractors manufacturing - The most competitive sector

Tractors manufacturing - The most competitive sector

It is said that economic development of any country stems from the engineering goods industry. This industry provides volumes to the manufacturers which enable investors to invest in modern manufacturing techniques, quality equipment and management practi
Published 02 Apr, 2004 12:00am
The Automobile Industry in Pakistan

The Automobile Industry in Pakistan

The automobile industry in Pakistan started to achieve the objectives of fulfilling the requirements of the country, creating manufacturing base, import substitution, foreign exchange saving and employment generation, human resource development along with
Published 02 Apr, 2004 12:00am
The performance of auto industry: PAAPAM's perspective

The performance of auto industry: PAAPAM's perspective

In recent times a lot has been said and written about the auto industry. The Government of Pakistan has constituted committees to determine if we need this industry to exist and flourish or to die away due to vested interest.
Published 02 Apr, 2004 12:00am
Winds of change may blow auto industry off track

Winds of change may blow auto industry off track

The fiscal year 2002-03 proved to be a good year for the Pakistani automobile industry and its allied industries. Between them, the five local assemblers produced a total of approximately 75,500 units, compared to just over 47,000 units produced in the pr
Published 02 Apr, 2004 12:00am
Deputy Chairman Planning Commission

Deputy Chairman Planning Commission

The Prime Minister of Pakistan has appointed Engr Dr M. Akram Sheikh as Deputy Chairman Planning Commission and expressed hope that with the induction of this experienced professional, there will be a positive change in strengthening the economic set-up.
Published 02 Apr, 2004 12:00am
Success story of automotive industry

Success story of automotive industry

The Chairman of the Engineering Development Board and now the Deputy Chairman of Planning Commission Dr Akram Sheikh thinks the growth of auto industry in the country has been a success story.
Published 02 Apr, 2004 12:00am
Shell - A symbol of quality & trust

Shell - A symbol of quality & trust

AOne of the most dynamic natural forces in the world - the sea, the fountain of life - inspiring, tireless, always changing yet constant. The Shell brand, like the sea itself, expresses dynamic energy.
Published 02 Apr, 2004 12:00am
SHV Energy in Pakistan

SHV Energy in Pakistan

SHV Holdings NV is a Fortune 500, $10bln, privately owned, Dutch multinational operating in FMCG warehousing, metal recycling, natural gas exploration, venture capital and LPG.
Published 02 Apr, 2004 12:00am
Power Generation in Pakistan

Power Generation in Pakistan

Pakistan inherited small utilities companies at the time of partition but they were adequate to meet the power requirements of the time.
Published 02 Apr, 2004 12:00am
PARCO means energy!

PARCO means energy!

Pak Arab Refinery Limited incorporated in Pakistan in May 1974, as a Public Limited Company, Pak-Arab Refinery Limited (PARCO) is a 60:40 joint venture between the Governments of Pakistan (GOP) and Abu Dhabi with a paid-up capital of Rs 12 billion.
Published 02 Apr, 2004 12:00am
PSO - The largest oil marketing company of Pakistan

PSO - The largest oil marketing company of Pakistan

Pakistan State Oil Company Ltd (PSO) is the largest oil marketing company in the country having an average turnover of around US $3.6 billion. With an overall market share of 67% -- around 79% in Black Oils and 60% in White Oil -- PSO ranks among the top
Published 02 Apr, 2004 12:00am
OGDCL - An overview

OGDCL - An overview

Mr Najam K. Hyder, Managing Director of OGDCL, was born in August 1947 and has a Bachelor's Degree in Chemical Engineering from Karachi, and a Bachelor's and Master's degree in Business Administration from USA.
Published 02 Apr, 2004 12:00am
CNG Dealers Association

CNG Dealers Association

Since its inception, CNG Dealers Association is actively playing its role in improvement and development of CNG in the country being the representative of CNG dealers.
Published 02 Apr, 2004 12:00am
Pakistan Petroleum Dealers Association

Pakistan Petroleum Dealers Association

We, Pakistan Petroleum Dealers Association, being the important stakeholders in the energy sector, playing our role quite satisfactorily and assisting the Government in its efforts for development & improvement of oil sector.
Published 02 Apr, 2004 12:00am
ZRG - The Call Center Specialist Company

ZRG - The Call Center Specialist Company

ZRG International (pvt) Limited is a fast-growing telecom solutions company that is highly focussed in the area of Computer-Telephone Integration (CTI) and customer interaction solutions.
Published 02 Apr, 2004 12:00am
Ehsan International Gases - The Company & Goal

Ehsan International Gases - The Company & Goal

Full strength operation started in 1996, Ehsan International has provided Industrial Gases, Specialty & calibration gases standards used in a wide variety of instrument applications in the refinery, petrochemical industries, Fertilisers, Electrical, Engin
Published 02 Apr, 2004 12:00am
Overseas Oil Trading Company

Overseas Oil Trading Company

Overseas Oil Trading Co Pvt Ltd (OOTCL) is the largest Private Sector Petroleum Storage facility at Port Qasim, Karachi.
Published 02 Apr, 2004 12:00am
SSGC - Powering National Economy

SSGC - Powering National Economy

The Sui Southern gas Company came into existence as a result of a series of merger of three individual gas companies, in Sindh and Balochistan.
Published 02 Apr, 2004 12:00am
One-year performance of Government in Oil, Gas & Mineral Sector

One-year performance of Government in Oil, Gas & Mineral Sector

As a result of continuity of previous regime policies and further steps taken by the present Government to accelerate the pace of development activities, the petroleum sector continues to play a vital role towards boosting the national economy.
Published 02 Apr, 2004 12:00am
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