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Apr 29, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-04-27
Taiwan's M2 money supply growth at four-year high

Taiwan's M2 money supply growth at four-year high

Taiwan's broadest measure of money supply, M2, is growing at its fastest pace in four years, the central bank said on Monday, underscoring forecasts of strong economic expansion this year.
Published 27 Apr, 2004 12:00am
Australian stocks weaken

Australian stocks weaken

Australian stocks ended weaker on Monday as shares in index heavyweight News Corp slipped and some major resource stocks also lost ground in quiet holiday-thinned trade.
Published 27 Apr, 2004 12:00am
Seoul shares decline

Seoul shares decline

South Korean shares fell 1.7 percent on Monday, led by Hynix Semiconductor Inc and Hyundai Motor Co, as fears over a fresh outbreak of Sars in China dented appetite for stocks across most of Asia.
Published 27 Apr, 2004 12:00am
Taiwan stocks hit by Sars concerns

Taiwan stocks hit by Sars concerns

Taiwan stocks closed lower on Monday as worries over the re-emergence of Sars in China fuelled selling in tech shares like TSMC, offsetting optimism that local listed firms would report improved quarterly profits.
Published 27 Apr, 2004 12:00am
Hong Kong stocks finish lower, Johnson slumps

Hong Kong stocks finish lower, Johnson slumps

Leading Hong Kong shares tumbled two percent on Monday amid rekindled Sars fears and as Beijing's determination to cool its red hot economy bruised China plays.
Published 27 Apr, 2004 12:00am
Chinese shares steady at close

Chinese shares steady at close

China's shares held steady on Monday as investors sought bargains in airlines stocks which had been hit by fears over a return of the deadly Sars virus.
Published 27 Apr, 2004 12:00am
Thai stocks close near four-week low

Thai stocks close near four-week low

Thai stocks ended near a four-week low on Monday after four straight days on the retreat as a fresh outbreak of Sars in China weighed on overall investor sentiment, analysts said.
Published 27 Apr, 2004 12:00am
New Zealand shares slightly down

New Zealand shares slightly down

The New Zealand share market lost a little ground on Monday as traders cashed in some profits made in the market's run-up to a record high last week.
Published 27 Apr, 2004 12:00am
Philippines stocks plunge

Philippines stocks plunge

Philippine stocks closed lower on Monday, led down by telecom issues PLDT and Globe Telecom, as investors took profits after the market's 3.3 percent rise last week.
Published 27 Apr, 2004 12:00am
Singapore shares fall as Sars concerns weigh

Singapore shares fall as Sars concerns weigh

Singapore shares dipped on Monday, mirroring other regional markets, as the resurgence of Sars in China sparked selling in banks and China-focused stocks such as food firm Want Holdings.
Published 27 Apr, 2004 12:00am
Sri Lankan stocks up

Sri Lankan stocks up

Sri Lankan stocks closed higher on Monday, with market interest focused on NDB Bank Ltd as parent company National Development Bank Ltd continued to boost its stake.
Published 27 Apr, 2004 12:00am
Malaysian shares dip, rate revamp hits banks

Malaysian shares dip, rate revamp hits banks

Malaysian shares ended lower on Monday, with bank stocks losing ground after the central bank launched a new interest rate system allowing lenders to price their own retail loans, opening up the sector to competitive pricing.
Published 27 Apr, 2004 12:00am
Bonds: Aventis credit pressured on Sanofi deal

Bonds: Aventis credit pressured on Sanofi deal

Franco-German drug-maker Aventis SA was at the centre of attention in the bond markets on Monday, with its bonds trading lower as it accepted a bid from Sanofi-Synthelabo that is seen as pressuring credit quality.
Published 27 Apr, 2004 12:00am
Bonds: Aventis credit pressured on Sanofi deal

Bonds: Aventis credit pressured on Sanofi deal

Franco-German drug-maker Aventis SA was at the centre of attention in the bond markets on Monday, with its bonds trading lower as it accepted a bid from Sanofi-Synthelabo that is seen as pressuring credit quality.
Published 27 Apr, 2004 12:00am
Gains fade as drugs drag FTSE-100 to flat finish

Gains fade as drugs drag FTSE-100 to flat finish

Leading UK shares sputtered to a flat close on Monday after a mainly higher session, dragged back by drugs shares ahead of results in the sector this week, although Rolls-Royce bounced on order hopes.
Published 27 Apr, 2004 12:00am
Swiss franc moves sideways ahead of SNB speech

Swiss franc moves sideways ahead of SNB speech

The Swiss franc traded in narrow ranges early on Monday after a weekend Group of Seven meeting sprung no surprises, traders said, adding the market's focus was on when US and Swiss interest rates might rise.
Published 27 Apr, 2004 12:00am
Dollar hits five-month high verses euro after uneventful G7

Dollar hits five-month high verses euro after uneventful G7

The dollar rose to a five-month high against the euro on Monday as the market shrugged off the outcome of a Group of Seven (G7) meeting and returned its focus to the chances of a near-term rise in US interest rates.
Published 27 Apr, 2004 12:00am
Hong Kong dollar eases

Hong Kong dollar eases

The Hong Kong dollar edged lower against the US currency on Monday, and discounts on Hong Kong dollar forwards narrowed on the back of underlying weakness in the local stock market and concerns over slower fund flows into Hong Kong in the near term.
Published 27 Apr, 2004 12:00am
Chinese yuan notches firmer

Chinese yuan notches firmer

The yuan ended a notch firmer versus the US dollar at 8.2768 on Monday, remaining near the stronger end of its managed trading range.
Published 27 Apr, 2004 12:00am
Sterling climbs

Sterling climbs

Sterling climbed nearly one percent on the dollar on Monday and gained on the euro after weekend comments from a Bank of England policymaker emboldened investors betting on higher British interest rates.
Published 27 Apr, 2004 12:00am
Dollar pins euro near five-month low

Dollar pins euro near five-month low

The dollar rose to its highest in five months against the euro on Monday, bolstered by recent upbeat US data after a weekend Group of Seven meeting put no obstacles in its recovery path.
Published 27 Apr, 2004 12:00am
Gaddafi prepares for landmark Brussels visit

Gaddafi prepares for landmark Brussels visit

Travelling with his tent and a team of female bodyguards, Libyan leader Muammar Gaddafi visits Brussels on Tuesday in a rare visit to Western Europe that marks another retreat from pariah status.
Published 27 Apr, 2004 12:00am
Red Cross boosts Darfur aid operation

Red Cross boosts Darfur aid operation

The International Committee of the Red Cross said Monday it was giving a massive boost to aid for Sudan's strife-torn Darfur region, to turn it into one of the relief agency's largest operations in the world.
Published 27 Apr, 2004 12:00am
NGOs decry human rights violations in Iraq

NGOs decry human rights violations in Iraq

A coalition of non-government organisations (NGOs) on Monday denounced human rights violations in Iraq and urged all warring parties to respect international conventions aimed at protecting civilians.
Published 27 Apr, 2004 12:00am
Thousands demand end of Nepal monarchy

Thousands demand end of Nepal monarchy

Thousands of protesters Monday urged the opposition to declare Nepal a republic as party leaders set conditions for talks with King Gyanendra to end nearly a month of demonstrations.
Published 27 Apr, 2004 12:00am
Norway says no decision on mission to Sri Lanka

Norway says no decision on mission to Sri Lanka

Sri Lanka's peace broker Norway has made no decision on sending a team here following a request from President Chandrika Kumaratunga to help revive talks with Tamil Tiger rebels, a spokeswoman said.
Published 27 Apr, 2004 12:00am
Diplomats blast Blair for 'US' foreign policy

Diplomats blast Blair for 'US' foreign policy

A roll-call of former British diplomats blasted Tony Blair on Monday and said it was time for the prime minister to start influencing America's "doomed" policy in the Middle East or stop backing it.
Published 27 Apr, 2004 12:00am
Horst Koehler slams US 'arrogance'

Horst Koehler slams US 'arrogance'

Horst Koehler, the leading candidate to become Germany's next president in May, has accused the United States of arrogance in its foreign policy and of pursuing a failed strategy in Iraq, media reported on Monday.
Published 27 Apr, 2004 12:00am
EU moves to reward Turkish Cypriots

EU moves to reward Turkish Cypriots

Venting anger at Greek Cypriots for rejecting a UN plan to reunite their island, the European Union vowed on Monday to help the minority Turkish Cypriots, who backed the plan, escape economic isolation.
Published 27 Apr, 2004 12:00am
Israel marks anniversary; Palestinian killed

Israel marks anniversary; Palestinian killed

Israel organised celebrations Monday to mark the 56th anniversary of its creation amid tight security, as the intifada cost the life of another teenage Palestinian stone-thrower in the Gaza Strip.
Published 27 Apr, 2004 12:00am
Gaza pullout: key Israeli ministers spurn Sharon

Gaza pullout: key Israeli ministers spurn Sharon

Three key ministers have spurned Israeli Prime Minister Ariel Sharon's appeal to help shore up sagging support for his Gaza pullout plan in a crucial party referendum, political sources said on Monday.
Published 27 Apr, 2004 12:00am
US urges allies to expand Afghan troop presence

US urges allies to expand Afghan troop presence

The United States urged its allies on Monday to speed up an expansion of Nato's peacekeeping operation in Afghanistan as signs emerged of a surge in guerrilla activity, even in the capital, Kabul.
Published 27 Apr, 2004 12:00am
Landslide kills 33 in Kyrgyzstan

Landslide kills 33 in Kyrgyzstan

A landslide in southern Kyrgyzstan on Monday killed 33 people and injured 19 others, the emergency ministry in the mountainous Central Asian country said.
Published 27 Apr, 2004 12:00am
Nato sees no Iraq role unless many conditions met

Nato sees no Iraq role unless many conditions met

Nato will only consider a wider role in Iraq if a string of conditions are met including a US handover to a "credible" government in Baghdad, secretary-general Jaap de Hoop Scheffer said on Monday.
Published 27 Apr, 2004 12:00am
Bush, Putin discuss Iraq and Middle East

Bush, Putin discuss Iraq and Middle East

US President George W. Bush and Russian President Vladimir Putin on Monday discussed efforts to craft a new UN resolution to cover Iraq's shift to self-rule, the White House said.
Published 27 Apr, 2004 12:00am
China rules out direct elections in Hong Kong

China rules out direct elections in Hong Kong

China's parliament on Monday dashed the hopes of Hong Kong people to elect directly their leaders in polls in 2007 and 2008, reinforcing Beijing's full control over democratic progress in the territory.
Published 27 Apr, 2004 12:00am
US threatens Falluja and Najaf after new battles

US threatens Falluja and Najaf after new battles

US forces in Iraq threw down a gauntlet to fighters from both main Muslim communities on Monday, threatening imminent assaults on two key towns if guerrillas do not accede to their demands.
Published 27 Apr, 2004 12:00am
Three UK terror suspects released

Three UK terror suspects released

Two men and a woman held following a major anti-terrorism operation across northern England last week have been released without charge, police said on Monday.
Published 27 Apr, 2004 12:00am
China launches laboratory checks over Sars scare

China launches laboratory checks over Sars scare

China is conducting emergency safety checks at Sars laboratories nation-wide after a leak in Beijing spawned a web of infection that led to the first reported death from the virus since a major outbreak last year.
Published 27 Apr, 2004 12:00am
Lectures

Lectures

Former Professor of London School of Economics, Professor Dr Javed Akbar Ansari, will deliver lectures here on April 28 & 29.
Published 27 Apr, 2004 12:00am
Farmers advised to cultivate cotton by mid-June

Farmers advised to cultivate cotton by mid-June

The cotton farmers have been advised to cultivate double quantity of cotton plants by mid of June to get better per acre production, official sources told APP here on Thursday.
Published 27 Apr, 2004 12:00am
PAEC and HEC efforts to usher in technological era: Atta

PAEC and HEC efforts to usher in technological era: Atta

Science and Technology Minister In-charge Dr Atta-ur-Rahman on Monday said that efforts of the Pakistan Atomic Energy Commission (PAEC) and the Higher Education Commission (HEC) would usher in technological era in the country soon.
Published 27 Apr, 2004 12:00am
Minister stresses judicious use of water for farm uplift

Minister stresses judicious use of water for farm uplift

Federal Minister for Food and Agriculture Sardar Yar Mohammad Rind has said there is a strong need to adopt technologies that use water judiciously and for this creation of awareness is pre-requisite.
Published 27 Apr, 2004 12:00am
Azad Kashmir gets breakthrough in auto industry

Azad Kashmir gets breakthrough in auto industry

Azad Jammu Kashmir achieved a major breakthrough in the automobile field after the Toyota Azad Motors launched the latest Daihatsu Coure automatic car first of its kind here.
Published 27 Apr, 2004 12:00am
Sham polls no solution to Kashmir issue: Gilani

Sham polls no solution to Kashmir issue: Gilani

All Parties Hurriyat Conference (APHC) Chairman Syed Ali Gilani on Monday reiterating Kashmiris' stance conveyed the message to the world community that elections in Indian occupied Kashmir could not be a substitute to Kashmiris' legitimate right to self-
Published 27 Apr, 2004 12:00am
Nallah and battered roads

Nallah and battered roads

I happen to reside at "Afshan Apartment" adjacent to Falcon House School, Sana Street, Karachi, off Nazareth Road, which area is situated in very close proximity to the office of your esteemed daily.
Published 27 Apr, 2004 12:00am
Client-counsel relationship

Client-counsel relationship

While each day witnesses new vistas in scientific and environmental development, the problems, worries, prices, rates, duties and taxes keep on escalating too.
Published 27 Apr, 2004 12:00am
Reality bites in rough year for US newspapers

Reality bites in rough year for US newspapers

US newsrooms, more geared toward rooting out scandal than generating it, are emerging from a torrid 12 months that severely dented press credibility and dethroned a brace of high-profile editors.
Published 27 Apr, 2004 12:00am
Corporate governance and role of management

Corporate governance and role of management

The success of modern enterprises depends on the adoption and implementation of good management practices that inter alia seek to protect the interests of stakeholders.
Published 27 Apr, 2004 12:00am
A mischievous move

A mischievous move

In the works at the UN is a mischievous resolution, drafted by the US and supported by four other permanent UNSC members and nuclear powers - Britain, France, Russia and China - and opposed by a number of non-aligned nations, including Pakistan, Malaysia
Published 27 Apr, 2004 12:00am
Poverty powder keg

Poverty powder keg

Speaking at the Brookings Institute the other day, Finance Minister Shaukat Aziz, who is in Washington these days for the annual meetings of the IMF and World Bank, reiterated the economic achievements of the government over the last four years.
Published 27 Apr, 2004 12:00am
CDA seeks Rs 3.5 billion from federal government

CDA seeks Rs 3.5 billion from federal government

The Capital Development Authority (CDA) has demanded over Rs 3.5 billion from the government to undertake mega projects in the Federal Capital in 2004-05, official sources told Business Recorder here on Monday.
Published 27 Apr, 2004 12:00am
Book launched on mental health

Book launched on mental health

A book on culture and mental health of Pakistan was launched by Hamdard University Hospital and Merck Marker on Monday, April 26, at a local hotel.
Published 27 Apr, 2004 12:00am
Call to educate farmers about new techniques

Call to educate farmers about new techniques

Pakistan Crop Protection Association (PCPA), the leading organisation of local pesticide manufacturers, has demanded of the government to chalk out special plan for creating awareness among the farming community regarding proper use of the latest agricult
Published 27 Apr, 2004 12:00am
Home department told to explain LG Ordinance violation

Home department told to explain LG Ordinance violation

The Lahore High Court (LHC) has asked the Home Department to explain as to why the government has allowed district Nazim Lahore to issue NOC for holding fairs in the city in violation of the Local Government Ordinance.
Published 27 Apr, 2004 12:00am
Postings and transfers

Postings and transfers

Regional Commissioner of Income Tax (RCIT) Eastern Region has transferred two Deputy Commissioners Income Tax (DCITs) with immediate effect.
Published 27 Apr, 2004 12:00am
Referendum demanded

Referendum demanded

Pakistan Wapda Hydro Electric Central Labour Union has demanded of the government to hold referendum in Wapda so that Wapda workers can elect their collective bargaining agent (CBA).
Published 27 Apr, 2004 12:00am
LHC bench at Faisalabad opposed

LHC bench at Faisalabad opposed

The Lahore High Court Bar Association (LHCBA) has called upon the government to abstain from constituting Faisalabad bench of the Lahore High Court (LHC).
Published 27 Apr, 2004 12:00am
Petition filed against Faisal

Petition filed against Faisal

A member of the Lahore High Court Bar Association (LHCBA) has filed a petition in Lahore High Court (LHC) against Interior Minister, Syed Faisal Saleh Hayat and others.
Published 27 Apr, 2004 12:00am
Punjab to establish Institute of Preventive Ophthalmology

Punjab to establish Institute of Preventive Ophthalmology

Punjab government is establishing Punjab Institute of Preventive Ophthalmology at King Edward Medical College (KEMC) Lahore at a cost of Rs 45.12 million out of which provincial government has provided Rs 22.09 million while equipment worth Rs 23.03 milli
Published 27 Apr, 2004 12:00am
Zobaida opposes tax on private schools

Zobaida opposes tax on private schools

The Federal Minister for Education Zobaida Jalal has said that no tax must be levied on private schools and asked the Punjab government to review its policy in this regard.
Published 27 Apr, 2004 12:00am
Irish educational mission arrives

Irish educational mission arrives

The Irish educational mission representing 11 colleges and institutions from Ireland arrived here on Monday. The mission will meet its Pakistani counterparts and hold talks with them, to promote joint educational activities between the two countries.
Published 27 Apr, 2004 12:00am
Government urged to let Shahbaz come home

Government urged to let Shahbaz come home

Central leader of PML-N Muhammad Pervaiz Malik MNA has asked the government to abstain from creating any hurdle in return of Shahbaz Sharif to Pakistan.
Published 27 Apr, 2004 12:00am
Call to amend gem and jewellery export policy

Call to amend gem and jewellery export policy

Gold Art Promotion Council Pakistan (GPCP) President, Muhammad Ahmad has called for bringing necessary amendments in the export policy for gem and jewellery.
Published 27 Apr, 2004 12:00am
Software development a high-growth industry

Software development a high-growth industry

Punjab Information Technology Minister, Abdul Aleem Khan has said that software development was a high growth industry and formed a major segment of the vast IT markets.
Published 27 Apr, 2004 12:00am
SCBA seminar on May 22

SCBA seminar on May 22

The Supreme Court and its Bar Association are jointly organising a seminar on "access to judiciary and alternate dispute resolution" here on May 22.
Published 27 Apr, 2004 12:00am
Wapda chief assures all support to AEB

Wapda chief assures all support to AEB

Wapda Chairman Tariq Hameed has assured all kind of support to the Alternate Energy Board (AEB) saying that the authority would purchase power produced through alternative sources.
Published 27 Apr, 2004 12:00am
Treasury bills auction on April 27

Treasury bills auction on April 27

The State Bank has invited tenders for the auction of Treasury Bills on Tuesday, instead of usual Wednesday.
Published 27 Apr, 2004 12:00am
Treasury bills auction on April 27

Treasury bills auction on April 27

The State Bank has invited tenders for the auction of Treasury Bills on Tuesday, instead of usual Wednesday.
Published 27 Apr, 2004 12:00am
Faletti's pre-bid meeting on April 27

Faletti's pre-bid meeting on April 27

All potential investors who have submitted their EoIs for the purchase Faletti's Hotel at Lahore have been invited to attend a pre-bid conference, for better understanding of the bidding process, on April 27, 2004, to be held under the chairmanship of Sal
Published 27 Apr, 2004 12:00am
65 Chinese container wagons inducted in Railways fleet

65 Chinese container wagons inducted in Railways fleet

For the first time since partition, Pakistan Railways (PR) has inducted 65 new Chinese container wagons into its goods carriages fleet as a part of its ongoing modernisation on Monday.
Published 27 Apr, 2004 12:00am
Vegetable ghee sale drops by 25 percent

Vegetable ghee sale drops by 25 percent

There has been a large-scale slump in the vegetable ghee market due to a number of undesirable concessions granted by the government to the importers of edible oil in Fata and Pata areas.
Published 27 Apr, 2004 12:00am
Rangers told to supply 150 water tankers daily to Baldia

Rangers told to supply 150 water tankers daily to Baldia

Sindh Governor Dr Ishratul Ibad has asked Director-General, Rangers, to arrange supply of 150 water tankers to the people of Baldia to tide over water shortage persisting there for a long time.
Published 27 Apr, 2004 12:00am
Withdrawal of withholding tax on payphone cards in next budget urged

Withdrawal of withholding tax on payphone cards in next budget urged

The payphone card operators have moved a budget proposal to the Central Board of Revenue (CBR) demanding total withdrawal of withholding tax from all telecom services along with inclusion of specific provisions to eliminate arbitrary and unilateral interp
Published 27 Apr, 2004 12:00am
Indian apparel exports to Canada, US fall sharply

Indian apparel exports to Canada, US fall sharply

The Indian trade leaders have expressed worry over the alarming decline in apparel exports to the US and Canada in recent months, which has fallen by 23.63 percent and 25 percent respectively.
Published 27 Apr, 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 27 Apr, 2004 12:00am
Turkish minister due on April 28

Turkish minister due on April 28

A six member Turkish Defence Delegation, led by Vecdi Gonul, Minister for National Defence of the Republic of Turkey, is arriving on a five-day official visit to Pakistan on Wednesday.
Published 27 Apr, 2004 12:00am
PSRMA seeks uniform sales tax regime across country

PSRMA seeks uniform sales tax regime across country

The Pakistan Steel Re-Rolling Mills Association (PSRMA), Karachi circle, has demanded that fixed tax facility allowed in Lahore should be made applicable uniformly throughout the country.
Published 27 Apr, 2004 12:00am
Pak-Arab Fertilisers sell-off opposed

Pak-Arab Fertilisers sell-off opposed

The Pak-Arab Fertilisers Employees Union (CBA) has appealed to President General Pervez Musharraf, Prime Minister Mir Zafarullah Khan Jamali, and Federal Finance Minister Shaukat Aziz not to dispose of profit-oriented units on throw-away prices.
Published 27 Apr, 2004 12:00am
Pak-China friendship to grow further

Pak-China friendship to grow further

Sindh Governor Dr Ishrat-ul-Ibad Khan has said that with participation of the youth, Pak-China friendship will strengthen further and produce far better results in the coming future.
Published 27 Apr, 2004 12:00am
The Weather

The Weather

The weather report on Monday (April 26) and the forecast for Tuesday (April 27, 2004).
Published 27 Apr, 2004 12:00am
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