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Print - 2004-06-28
Fudda hails Shaukat's nomination

Fudda hails Shaukat's nomination

Moin Fudda, Managing Director, Karachi Stock Exchange, said on Sunday that "on behalf of the KSE, I profusely congratulate Shaukat Aziz for his nomination as Prime Minister of Pakistan".
Published 28 Jun, 2004 12:00am
Portuguese prime minister set to be EU chief

Portuguese prime minister set to be EU chief

Portuguese Prime Minister Jose Manuel Durao Barroso was a step away on Sunday from becoming the next president of the European Commission after European Union leaders ended weeks of wrangling to back him.
Published 28 Jun, 2004 12:00am
Lightning strikes kill 15 gamblers in China

Lightning strikes kill 15 gamblers in China

Lightning strikes in eastern China killed at least 15 gamblers as they sat under trees playing mahjong and other games, newspapers said on Sunday.
Published 28 Jun, 2004 12:00am
Bush's Iraq war represents 'monument to folly'

Bush's Iraq war represents 'monument to folly'

President George W. Bush's decision to invade Iraq "stands as a monument to folly" to his "doctrine" of pre-emptive war, the Los Angeles Times wrote Sunday in a scathing editorial three days ahead of Iraq's power handover.
Published 28 Jun, 2004 12:00am
Nato chief warns West cannot ignore distant threats

Nato chief warns West cannot ignore distant threats

Nato must tackle new threats before they "end up on our doorstep," the alliance's chief warned on Sunday as leaders gathered for a summit at which the new Iraqi government will be offered training for its troops.
Published 28 Jun, 2004 12:00am
Norwegian oilfields resume output

Norwegian oilfields resume output

Production at Norwegian energy group Statoil's Snorre and Vigdis oilfields in the North Sea returned to near normal on Sunday, two days after a strike was ended by the government, the company said.
Published 28 Jun, 2004 12:00am
First phase of dialogue termed pleasant

First phase of dialogue termed pleasant

Foreign Office spokesman Masood Khan on Sunday termed the first phase of dialogue process between foreign secretaries of Pakistan and India in New Delhi as pleasant, constructive and business like.
Published 28 Jun, 2004 12:00am
Rumours send stock market reeling

Rumours send stock market reeling

The KSE-100 index came under pressure during the last week as well owing to uncertainty regarding the alternative tax proposals for stock market investors and political disturbances in Islamabad.
Published 28 Jun, 2004 12:00am
Rumours send stock market reeling

Rumours send stock market reeling

The KSE-100 index came under pressure during the last week as well owing to uncertainty regarding the alternative tax proposals for stock market investors and political disturbances in Islamabad.
Published 28 Jun, 2004 12:00am
Withdrawal of GST on cottonseed demanded

Withdrawal of GST on cottonseed demanded

A delegation of Pakistan Cotton Ginners Association (PCGA) would hold a meeting with Member Sales Tax Shahid Ahmad Khan in Islamabad on June 28 to plead its case regarding demand for withdrawal of general sales tax on cottonseed.
Published 28 Jun, 2004 12:00am
Withdrawal of GST on cottonseed demanded

Withdrawal of GST on cottonseed demanded

A delegation of Pakistan Cotton Ginners Association (PCGA) would hold a meeting with Member Sales Tax Shahid Ahmad Khan in Islamabad on June 28 to plead its case regarding demand for withdrawal of general sales tax on cottonseed.
Published 28 Jun, 2004 12:00am
PPL stakes may be offered at Rs 55 per share

PPL stakes may be offered at Rs 55 per share

The Privatisation Commission (PC) is likely to sell shares in Pakistan Petroleum Ltd at Rs 55 per share by next month, moving as per schedule set at the start of the current fiscal year.
Published 28 Jun, 2004 12:00am
PPL stakes may be offered at Rs 55 per share

PPL stakes may be offered at Rs 55 per share

The Privatisation Commission (PC) is likely to sell shares in Pakistan Petroleum Ltd at Rs 55 per share by next month, moving as per schedule set at the start of the current fiscal year.
Published 28 Jun, 2004 12:00am
Badla rates drop to 8.1 percent

Badla rates drop to 8.1 percent

The weighted average badla rate on the Karachi Stock Exchange (KSE) was at 8.1 percent, declining from 14.1 percent a week ago, because of massive downward correction and immense liquidity available on the interbank market.
Published 28 Jun, 2004 12:00am
Badla rates drop to 8.1 percent

Badla rates drop to 8.1 percent

The weighted average badla rate on the Karachi Stock Exchange (KSE) was at 8.1 percent, declining from 14.1 percent a week ago, because of massive downward correction and immense liquidity available on the interbank market.
Published 28 Jun, 2004 12:00am
THE RUPEE: dollar may cross Rs 58.50 mark in interbank

THE RUPEE: dollar may cross Rs 58.50 mark in interbank

The increased dollars buying in the final sessions of the current fiscal year for the clearance of dues pushed the greenback rates high in the interbank market as well in the open market last week, experts said.
Published 28 Jun, 2004 12:00am
THE RUPEE: dollar may cross Rs 58.50 mark in interbank

THE RUPEE: dollar may cross Rs 58.50 mark in interbank

The increased dollars buying in the final sessions of the current fiscal year for the clearance of dues pushed the greenback rates high in the interbank market as well in the open market last week, experts said.
Published 28 Jun, 2004 12:00am
One Israeli killed, five injured in Gaza

One Israeli killed, five injured in Gaza

Palestinian militants blew up part of an Israeli military post in the southern Gaza Strip on Sunday and one Israeli was believed killed and at least five others wounded, an Israeli television station reported.
Published 28 Jun, 2004 12:00am
One Israeli killed, five injured in Gaza

One Israeli killed, five injured in Gaza

Palestinian militants blew up part of an Israeli military post in the southern Gaza Strip on Sunday and one Israeli was believed killed and at least five others wounded, an Israeli television station reported.
Published 28 Jun, 2004 12:00am
Peace rally thwarted: hundreds of MMA activists arrested

Peace rally thwarted: hundreds of MMA activists arrested

The Karachi city police on Sunday used all the means to prevent Muttahida Majlis-i-Amal from holding a 'Peace Rally'. Almost total strength of the police force was utilised in addition to latest equipment to do the job.
Published 28 Jun, 2004 12:00am
Peace rally thwarted: hundreds of MMA activists arrested

Peace rally thwarted: hundreds of MMA activists arrested

The Karachi city police on Sunday used all the means to prevent Muttahida Majlis-i-Amal from holding a 'Peace Rally'. Almost total strength of the police force was utilised in addition to latest equipment to do the job.
Published 28 Jun, 2004 12:00am
Qazi sent back from Karachi

Qazi sent back from Karachi

The acting president of Muttahida Majlis-i-Amal (MMA), Qazi Hussain Ahmed, was sent back to Peshawar from Karachi airport by the Sindh government, on Sunday.
Published 28 Jun, 2004 12:00am
Qazi sent back from Karachi

Qazi sent back from Karachi

The acting president of Muttahida Majlis-i-Amal (MMA), Qazi Hussain Ahmed, was sent back to Peshawar from Karachi airport by the Sindh government, on Sunday.
Published 28 Jun, 2004 12:00am
Islamabad and Delhi make positive start in talks

Islamabad and Delhi make positive start in talks

Pakistan and India on Sunday began a composite dialogue process focussing on peace and security, and confidence-building measures (CBMs) in a "positive" and "constructive atmosphere".
Published 28 Jun, 2004 12:00am
Islamabad and Delhi make positive start in talks

Islamabad and Delhi make positive start in talks

Pakistan and India on Sunday began a composite dialogue process focussing on peace and security, and confidence-building measures (CBMs) in a "positive" and "constructive atmosphere".
Published 28 Jun, 2004 12:00am
US soldier among 11 killed in Iraq

US soldier among 11 killed in Iraq

Six National Guardsmen were killed on Sunday in an attack on a checkpoint north-east of the Iraqi capital by unknown gunmen armed with anti-tank rockets, a provincial police chief said.
Published 28 Jun, 2004 12:00am
US soldier among 11 killed in Iraq

US soldier among 11 killed in Iraq

Six National Guardsmen were killed on Sunday in an attack on a checkpoint north-east of the Iraqi capital by unknown gunmen armed with anti-tank rockets, a provincial police chief said.
Published 28 Jun, 2004 12:00am
Iraqi group threatens to behead Pakistani

Iraqi group threatens to behead Pakistani

Unidentified gunmen in Iraq have kidnapped a Pakistani driver and are threatening to behead him within three days unless Iraqi prisoners are released, Al Arabiya television reported on Sunday.
Published 28 Jun, 2004 12:00am
Iraqi group threatens to behead Pakistani

Iraqi group threatens to behead Pakistani

Unidentified gunmen in Iraq have kidnapped a Pakistani driver and are threatening to behead him within three days unless Iraqi prisoners are released, Al Arabiya television reported on Sunday.
Published 28 Jun, 2004 12:00am
The Weather

The Weather

The weather report of Sunday (June 27) and the forecast for Monday (June 28, 2004).
Published 28 Jun, 2004 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week (June 21 to June 26, 2004).
Published 28 Jun, 2004 12:00am
Chemicals: ICI PAKISTAN LIMITED - 1st Quarter Ended March 31 2004

Chemicals: ICI PAKISTAN LIMITED - 1st Quarter Ended March 31 2004

ICI Pakistan Limited is a subsidiary of ICI Omicron BV and is listed on Karachi, Lahore and Islamabad Stock Exchanges. The ICI share is trading at Rs 86.65 per share and during the last one year its prices ranged between Rs 52.55 and Rs 95.25 per share.
Published 28 Jun, 2004 12:00am
Chemicals: ICI PAKISTAN LIMITED - 1st Quarter Ended March 31 2004

Chemicals: ICI PAKISTAN LIMITED - 1st Quarter Ended March 31 2004

ICI Pakistan Limited is a subsidiary of ICI Omicron BV and is listed on Karachi, Lahore and Islamabad Stock Exchanges. The ICI share is trading at Rs 86.65 per share and during the last one year its prices ranged between Rs 52.55 and Rs 95.25 per share.
Published 28 Jun, 2004 12:00am
Hong Kong stocks seen edging up, protests ignored

Hong Kong stocks seen edging up, protests ignored

Hong Kong investors expect little market fallout from a mass demonstration this week marking the anniversary of the territory's return to China, with many traders saying shares are likely to edge higher.
Published 28 Jun, 2004 12:00am
Asian currencies rise against dollar

Asian currencies rise against dollar

Asia's currencies mostly rose against the US dollar in the past week on growing optimism over Japan's recovery and with expectations of a US rate rise already factored into the market.
Published 28 Jun, 2004 12:00am
Telecom Egypt looking for pound bonds

Telecom Egypt looking for pound bonds

State-owned Telecom Egypt said on Sunday it was looking for lead managers and underwriters for an Egyptian pound bond issue worth between 1.5 billion and two billion pounds ($242 million and $323 million).
Published 28 Jun, 2004 12:00am
Telecom Egypt looking for pound bonds

Telecom Egypt looking for pound bonds

State-owned Telecom Egypt said on Sunday it was looking for lead managers and underwriters for an Egyptian pound bond issue worth between 1.5 billion and two billion pounds ($242 million and $323 million).
Published 28 Jun, 2004 12:00am
Dollar at risk as inflation deters Asian intervention

Dollar at risk as inflation deters Asian intervention

The US dollar may be heading for a big fall, with analysts saying that rising inflation will force Asian central banks to cut the currency intervention that has been financing the massive US current account deficit.
Published 28 Jun, 2004 12:00am
Indian shares to gain ahead of budget, bonds to slip

Indian shares to gain ahead of budget, bonds to slip

Indian shares are seen rising this week as traders build positions in the run-up to the federal budget, while bonds may extend a fall fuelled by fears rates may rise amid global tightening and higher inflation.
Published 28 Jun, 2004 12:00am
Shell and BP in focus at Britain's stocks

Shell and BP in focus at Britain's stocks

British oil titans Shell and BP will move into the spotlight this week as UK investors search for inspiration, although the prospect of a rise in US interest rates could grab most attention.
Published 28 Jun, 2004 12:00am
Taiwan stocks seen up, techs may be hit

Taiwan stocks seen up, techs may be hit

Taiwan stocks are likely to move higher this week with an expected increase in US interest rates not seen unnerving the market, although some high tech stocks may be sold after Intel recalled a number of chipsets.
Published 28 Jun, 2004 12:00am
European stock markets taking Fed's meeting as key

European stock markets taking Fed's meeting as key

Europe's stock markets will hold steady ahead of Federal Reserve interest rate move but strategists said the focus will be on whether the US central bank says it intends to tighten more than anticipated.
Published 28 Jun, 2004 12:00am
Fed relief, handover of power in Iraq may boost US stocks

Fed relief, handover of power in Iraq may boost US stocks

Relief over moving past the crucial Federal Reserve meeting and power handover in Iraq may boost stocks this week, but trading will likely tail off as dealers wind down for the US July Fourth holiday weekend.
Published 28 Jun, 2004 12:00am
Bahrain's 2003 trade surplus up

Bahrain's 2003 trade surplus up

Bahrain's trade surplus rose 53 percent in 2003 to 454 million dinars ($1.2 billion) compared to a 294 million dinar surplus in 2002, the central bank said.
Published 28 Jun, 2004 12:00am
El Al flights to Turkey stay halted over security

El Al flights to Turkey stay halted over security

Citing security at Istanbul airport, Israel's El Al said on Sunday flights to Turkey would stay suspended at least until Wednesday, when a Nato summit will have ended in the city.
Published 28 Jun, 2004 12:00am
KorAm Bank tries to minimise strike impact

KorAm Bank tries to minimise strike impact

South Korea's KorAm Bank, owned by Citigroup Inc, said on Sunday it will take measures to minimise the impact of a strike, called by unions demanding job security and opposing bank plans to delist.
Published 28 Jun, 2004 12:00am
KorAm Bank tries to minimise strike impact

KorAm Bank tries to minimise strike impact

South Korea's KorAm Bank, owned by Citigroup Inc, said on Sunday it will take measures to minimise the impact of a strike, called by unions demanding job security and opposing bank plans to delist.
Published 28 Jun, 2004 12:00am
EU temporarily suspends Microsoft sanctions

EU temporarily suspends Microsoft sanctions

The European Commission has temporarily suspended an order requiring Microsoft to sell a version of its Windows operating system without a media player software, just before the order would have taken effect, it announced on Sunday.
Published 28 Jun, 2004 12:00am
Plenty of uranium for nuclear plants: IAEA

Plenty of uranium for nuclear plants: IAEA

Known and easily accessible uranium deposits across the globe can provide enough fuel for the nuclear power industry for 50 to 65 years, the UN International Atomic Energy Agency (IAEA) said.
Published 28 Jun, 2004 12:00am
Iraq to give priority to Arab firms

Iraq to give priority to Arab firms

Iraq's new interim government will give priority to companies from Arab countries when awarding contracts for reconstruction work, Iraqi Housing and Construction Minister Omar al-Damluji said on Sunday.
Published 28 Jun, 2004 12:00am
Strong oil outlook lures renewed forward buying

Strong oil outlook lures renewed forward buying

Strong oil prices have encouraged a tentative move back into derivatives markets by consumers looking to lock in costs for long-term supplies and avoid being burned if prices rise even higher, analysts and traders said.
Published 28 Jun, 2004 12:00am
Asian and South African kids suffering from fake drugs

Asian and South African kids suffering from fake drugs

The global economy is suffering from counterfeiting, but nowhere near as much as kids in Africa and Asia who died after what was supposed to be a painkiller turned out to be antifreeze.
Published 28 Jun, 2004 12:00am
US banks want same risk rules at home and abroad

US banks want same risk rules at home and abroad

US banks urged global regulators at the weekend to eliminate country-to-country differences in new banking guidelines designed to minimise risks and create a level playing field for international finance.
Published 28 Jun, 2004 12:00am
Stability Pact too mechanical, says Eichel

Stability Pact too mechanical, says Eichel

German Finance Minister Hans Eichel reiterated on Sunday his view that there is a need for a less mechanical implementation of the European Union's Stability and Growth Pact.
Published 28 Jun, 2004 12:00am
Italian rail network paralysed by rubbish row

Italian rail network paralysed by rubbish row

Rail links to southern Italy were paralysed on Sunday by a few hundred people blocking the line in protest at the reopening of a rubbish dump in the latest chapter of a crisis that many blame on the Mafia.
Published 28 Jun, 2004 12:00am
Fed set to embark on 'measured' interest rates rise campaign

Fed set to embark on 'measured' interest rates rise campaign

US Federal Reserve officials are set to raise interest rates this week for the first time in four years - the first step in what they hope will be a "measured" campaign to keep inflation at bay as the economy strengthens.
Published 28 Jun, 2004 12:00am
CIA halts use of harsh interrogation ploys

CIA halts use of harsh interrogation ploys

The CIA has stopped using interrogation techniques such as "stress positions," sleep deprivation and denial of pain medication while the Bush administration reviews their legality, The Washington Post said on Sunday.
Published 28 Jun, 2004 12:00am
Powell and Allawi in apparent contradiction over Saddam

Powell and Allawi in apparent contradiction over Saddam

Former Iraqi leader Saddam Hussein will remain in the physical custody of US forces for the "foreseeable future," US Secretary of State Colin Powell said Sunday, apparently contradicting Iraq's new prime minister.
Published 28 Jun, 2004 12:00am
Russia to press ahead with Iran nuclear deal

Russia to press ahead with Iran nuclear deal

Russia's top nuclear official vowed on Sunday to avoid any further delays in the launch of a Russian-built atomic reactor in Iran by speeding up talks with Tehran on a key bilateral deal.
Published 28 Jun, 2004 12:00am
Bush praises Turkey; protestors march in anger

Bush praises Turkey; protestors march in anger

US President George W. Bush on Sunday praised Turkey's stabilising role as a secular Muslim democracy in a turbulent region but some 20,000 demonstrators marched in anger against his policies in Iraq.
Published 28 Jun, 2004 12:00am
UAE nabs fugitive drug lord

UAE nabs fugitive drug lord

Police in the Gulf emirate of Dubai said on Sunday they had captured a fugitive drug baron after a seven-year chase that spanned several Middle Eastern countries and ended in Lebanon.
Published 28 Jun, 2004 12:00am
Turkey rejects demands on fate of Iraq hostages

Turkey rejects demands on fate of Iraq hostages

Turkey rejected on Sunday the demands of militants threatening to behead three Turks held hostage in Iraq during US President George W. Bush's visit to Turkey and on the eve of the formal start of Iraqi self-rule.
Published 28 Jun, 2004 12:00am
Thousands march in Mexico City against crime

Thousands march in Mexico City against crime

Tens of thousands of protesters marched through the streets of Mexico City on Sunday to protest Mexico's failure to control rampant crime in one of the world's most crime-wracked countries.
Published 28 Jun, 2004 12:00am
'Israel should talk about nuclear arms'

'Israel should talk about nuclear arms'

Israel should start talking seriously about ridding the Middle East of nuclear weapons, whether it admits to having them or not, the head of the UN nuclear watchdog said on Sunday.
Published 28 Jun, 2004 12:00am
Adamkus wins Lithuanian election

Adamkus wins Lithuanian election

Lithuania's former head of state, Valdas Adamkus, won Sunday's presidential election with 54.7 percent of the vote, against 33 percent for his rival, Kazimira Prunskiene, an exit poll released by the Baltic News Service said.
Published 28 Jun, 2004 12:00am
30,000 pack streets of Nablus at mass funerals

30,000 pack streets of Nablus at mass funerals

Furious Palestinians called for swift revenge attacks as they paid their last respects Sunday to seven militants, including three senior commanders, shot dead by Israeli troops in Nablus.
Published 28 Jun, 2004 12:00am
US leaders did not take Osama seriously enough: CIA official

US leaders did not take Osama seriously enough: CIA official

A 22-year CIA veteran who headed an anti-terror task force focusing on capturing Osama bin Laden said in an interview broadcast Sunday that "bureaucratic cowardice" impeded action against al Qaeda before and after September 11.
Published 28 Jun, 2004 12:00am
Germany won't budge on Iraq troops: Schroeder

Germany won't budge on Iraq troops: Schroeder

Chancellor Gerhard Schroeder said on Sunday Germany would not budge on its refusal to send troops to Iraq, but doesn't expect that to become a contentious issue at the Nato summit in Istanbul on Monday.
Published 28 Jun, 2004 12:00am
More US troops for Iraq not essential, says Rumsfeld

More US troops for Iraq not essential, says Rumsfeld

The United States may not have to increase its force levels in Iraq but it has contingency plans in case the need arises, US Defence Secretary Donald Rumsfeld said on Sunday.
Published 28 Jun, 2004 12:00am
SBP and NBP working hours extended for taxpayers

SBP and NBP working hours extended for taxpayers

Governor State Bank of Pakistan, on the request of the Chairman Central Board of Revenue Islamabad has directed that State Bank of Pakistan and National Bank of Pakistan will function for extended hours from June 27 to June 30, 2004 to facilitate the tax
Published 28 Jun, 2004 12:00am
SBP and NBP working hours extended for taxpayers

SBP and NBP working hours extended for taxpayers

Governor State Bank of Pakistan, on the request of the Chairman Central Board of Revenue Islamabad has directed that State Bank of Pakistan and National Bank of Pakistan will function for extended hours from June 27 to June 30, 2004 to facilitate the tax
Published 28 Jun, 2004 12:00am
Nigerian Muslims simulate war, pray for peace

Nigerian Muslims simulate war, pray for peace

The proud horsemen of the Sokoto Caliphate strained to rein in their skittish steeds as the horns blared and the sun beat down from a cloudless blue sky onto the parched earth of the field of honour.
Published 28 Jun, 2004 12:00am
OIC in 21st century

OIC in 21st century

The Organisation of the Islamic Conference (OIC) came into being on 25 September 1969 in the wake of Zionist arson attack on Al-Aqsa Mosque, perpetrated on 21 August 1969.
Published 28 Jun, 2004 12:00am
US presidential race reaches Kabul with Kerry event

US presidential race reaches Kabul with Kerry event

The donuts and the donkey suffered in the summer heat, and the man himself was nowhere to be seen, but American Democrats have held one of the most remote gatherings of the US presidential campaign so far with 'Kabul for Kerry'.
Published 28 Jun, 2004 12:00am