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Print - 2004-07-13
Indian rupee ends weaker, eyes reforms

Indian rupee ends weaker, eyes reforms

The Indian rupee weakened on Monday from a three-week closing high struck the previous session on corporate demand amid concerns over the fate of key reforms unveiled by the new government in its maiden budget last week.
Published 13 Jul, 2004 12:00am
Swiss franc remains close to 20-week highs against dollar

Swiss franc remains close to 20-week highs against dollar

The Swiss franc held close to 20-week highs against the dollar on Monday, little changed in early trade from late last week when the greenback was pressured by security concerns and lower US rate rise expectations.
Published 13 Jul, 2004 12:00am
Yen jumps as LDP's election setback shrugged off

Yen jumps as LDP's election setback shrugged off

The yen jumped to a two-week high against the dollar on Monday as investors saw a poor showing by Japan's ruling Liberal Democratic Party (LDP) in upper house elections as not affecting economic reform.
Published 13 Jul, 2004 12:00am
Asian currencies rise modestly

Asian currencies rise modestly

The Singapore dollar received a boost from stronger-than-expected data on Monday and other Asian currencies rose modestly, tracking the yen after Japan's ruling coalition retained its majority in upper house elections.
Published 13 Jul, 2004 12:00am
Australian dollar eases

Australian dollar eases

The Australian dollar ended on Monday just short of 72.50 US cents after reaching a fresh two-month high earlier in the session.
Published 13 Jul, 2004 12:00am
Hong Kong dollar ends steady

Hong Kong dollar ends steady

The Hong Kong dollar moved in narrow ranges against the US currency on Monday amid little fresh news, with dealers eyeing some key US data due for release later in the week.
Published 13 Jul, 2004 12:00am
Chinese yuan notches stronger

Chinese yuan notches stronger

The yuan ended a notch stronger versus the US dollar at 8.2768 on Monday, but it was still near the stronger end of its managed trading range.
Published 13 Jul, 2004 12:00am
Imelda Marcos loses bid to ban film about her

Imelda Marcos loses bid to ban film about her

Former Philippine first lady Imelda Marcos lost her battle to stop a film about her colourful life being shown in the Philippines on Monday when a regional court lifted an injunction against its screening.
Published 13 Jul, 2004 12:00am
Arab media under spotlight at Qatar forum

Arab media under spotlight at Qatar forum

The role of the Arab media came under the spotlight at a forum in Qatar on Monday organised by Al-Jazeera, the satellite television channel that has helped change media coverage in the Arab world.
Published 13 Jul, 2004 12:00am
Police raid mosque in Frankfurt

Police raid mosque in Frankfurt

German police raided a Moroccan mosque in the western city of Frankfurt on suspicion that children were being shown violent extremist propaganda, prosecutors said Monday.
Published 13 Jul, 2004 12:00am
Myanmar denies bugging Indonesian embassy

Myanmar denies bugging Indonesian embassy

Military-ruled Myanmar on Monday denied bugging telephone lines at Indonesia's embassy here, as Jakarta confirmed it was investigating suspected eavesdropping by the junta.
Published 13 Jul, 2004 12:00am
AIDS vaccine still years away, researchers say

AIDS vaccine still years away, researchers say

An AIDS vaccine is still years away even under the most optimistic scenario and scientists may have to go back to the drawing-board if the current batch of candidates, all focused on one approach, fails.
Published 13 Jul, 2004 12:00am
Maoist rebels kill Nepal mayor

Maoist rebels kill Nepal mayor

Suspected Maoist rebels Monday shot dead the mayor of Dhangadhi town in western Nepal, police said.
Published 13 Jul, 2004 12:00am
Captain of German immigrant ship arrested

Captain of German immigrant ship arrested

Italian police have arrested the German captain of a ship that brought a group of African would-be immigrants to Sicily and the head of the German humanitarian group that chartered it, a spokeswoman for the Cap Anamur Committee said.
Published 13 Jul, 2004 12:00am
Blackout hits Athens a month before Olympics

Blackout hits Athens a month before Olympics

A blackout swept Athens a month before the Olympics on Monday, but the government brushed off the hour-long disruption as a mere glitch and said there was more than enough electricity to power the summer Games.
Published 13 Jul, 2004 12:00am
Qaradawi says he is no extremist

Qaradawi says he is no extremist

Outspoken Muslim cleric Yussef al-Qaradawi has rejected claims that he is an extremist, saying Muslims had no right to mistreat gay people, and wife-beating was not desirable, amid protests against his visit to Britain.
Published 13 Jul, 2004 12:00am
Berlusconi under pressure to end government paralysis

Berlusconi under pressure to end government paralysis

Prime Minister Silvio Berlusconi gathered his fractious coalition for a second day of crisis talks on Monday, urged by business leaders to swiftly end the political paralysis that has blocked key economic reforms.
Published 13 Jul, 2004 12:00am
Tamil Tigers slam government, say ready to fight

Tamil Tigers slam government, say ready to fight

Sri Lanka's Tamil Tigers accused the government on Monday of thrusting a war on them by using a rival rebel faction to weaken their forces and said they were ready to return to the battlefield.
Published 13 Jul, 2004 12:00am
Israeli bulldozer crushes paralysed man in Gaza

Israeli bulldozer crushes paralysed man in Gaza

An Israeli bulldozer crushed a paralysed Palestinian man to death when it knocked down his Gaza Strip home on Monday, witnesses said, during a raid to demolish homes the army described as militant gun-posts.
Published 13 Jul, 2004 12:00am
Iraq to conduct nuclear research for peace

Iraq to conduct nuclear research for peace

Iraq's science minister said Monday he will focus on building an army of scientists to conduct peaceful nuclear research in contrast to the more destructive ambitions of Saddam Hussein.
Published 13 Jul, 2004 12:00am
Bush insists Iraq war was right

Bush insists Iraq war was right

Dogged by election-year doubts over the invasion of Iraq, US President George W. Bush insisted Monday that the war was justified despite the failure to find weapons of mass destruction there.
Published 13 Jul, 2004 12:00am
Sharon and Peres seek coalition for Gaza pullout

Sharon and Peres seek coalition for Gaza pullout

Israeli Prime Minister Ariel Sharon won agreement from veteran opposition leader Shimon Peres on Monday to try to forge a unity government that could push through a plan to pull out of the Gaza Strip.
Published 13 Jul, 2004 12:00am
Mortar attack on Abu Ghraib prison: US military

Mortar attack on Abu Ghraib prison: US military

Insurgents launched a mortar attack on the infamous US-run prison at Abu Ghraib, just outside Baghdad, overnight, wounding a foreign contractor, the US military said Monday.
Published 13 Jul, 2004 12:00am
Iraq amnesty to be offered in a few days, says Yawar

Iraq amnesty to be offered in a few days, says Yawar

Iraq's interim President Sheikh Ghazi al-Yawar said in an interview published Monday that the government would within "a couple of days" offer an amnesty to insurgents who had fought US-led forces but were ready to lay down their arms.
Published 13 Jul, 2004 12:00am
Fahrenheit breaks records in UK

Fahrenheit breaks records in UK

The prize-winning polemical "Fahrenheit 9/11" which savagely attacks US President George W. Bush for the war in Iraq has smashed box office records for a documentary in Britain.
Published 13 Jul, 2004 12:00am
Delegates get to work amid row over US role in AIDS crisis

Delegates get to work amid row over US role in AIDS crisis

US policy promoting abstinence as a key plank of its AIDS strategy was criticised at a world forum here Monday as experts warned billions of dollars were needed to prevent the virus from raging out of control.
Published 13 Jul, 2004 12:00am
Exclusive novel for mobile phone users

Exclusive novel for mobile phone users

A Chinese author plans to make history by writing his next novel exclusively for mobile phone users, who will receive it in the form of short messages, state media reported Monday.
Published 13 Jul, 2004 12:00am
Palestinian municipal elections delayed: Qurie

Palestinian municipal elections delayed: Qurie

Palestinians delayed municipal elections for three months until November, Prime Minister Ahmed Qurie said on Monday, in a setback to attempts to bolster democracy and fight corruption.
Published 13 Jul, 2004 12:00am
Oil falls on Opec supply talk

Oil falls on Opec supply talk

US oil prices fell on Monday on growing confidence that Opec would boost output limits on August 1, and after Kuwait said the producers' group may consider more supply increases if the market remained strong.
Published 13 Jul, 2004 12:00am
Sterling hits four-month high against dollar

Sterling hits four-month high against dollar

Sterling hit a four-month high versus the dollar on Monday as the greenback extended losses against its European rivals with investors scaling back expectations for sharp interest rate rises in the United States.
Published 13 Jul, 2004 12:00am
Yen hits two-week high against dollar

Yen hits two-week high against dollar

The yen hit a two-week high against the dollar and a one-week peak versus the euro on Monday as investors expected economic reforms to survive a poor election showing by Japan's ruling Liberal Democratic Party (LDP).
Published 13 Jul, 2004 12:00am
Mezz notes out of fashion in European junk bond market

Mezz notes out of fashion in European junk bond market

Europe's high-yield bond market has made up some ground lost during May's sell-off, but investors are wary of non-traditional bond structures, with tailored products such as mezzanine notes out of fashion.
Published 13 Jul, 2004 12:00am
Mezz notes out of fashion in European junk bond market

Mezz notes out of fashion in European junk bond market

Europe's high-yield bond market has made up some ground lost during May's sell-off, but investors are wary of non-traditional bond structures, with tailored products such as mezzanine notes out of fashion.
Published 13 Jul, 2004 12:00am
FTSE-100 slides as Glaxo suffers setback

FTSE-100 slides as Glaxo suffers setback

Britain's top shares reversed to halt a two-day recovery on Monday as GlaxoSmithKline dipped on concern about a key drug and a robust defence strategy by Marks & Spencer cut the chance of a take-over, dealers said.
Published 13 Jul, 2004 12:00am
Monday's unofficial close: US tech stocks close lower

Monday's unofficial close: US tech stocks close lower

US technology stocks sagged Monday, as pessimism from Merrill Lynch about the global semiconductor industry hit Intel Corp and others, but blue chips rose as a pullback in oil prices soothed investors.
Published 13 Jul, 2004 12:00am
LME metals end mixed

LME metals end mixed

Base metals backtracked in Monday afternoon trading on the London Metal Exchange (LME) as initial strength in copper was wiped out by profit-taking and the market ended mixed.
Published 13 Jul, 2004 12:00am
New York cotton closes down on USDA data

New York cotton closes down on USDA data

New York cotton futures slumped to a lower close Monday on options-related and speculative sales as players dumped fiber contracts after release of a bearish USDA monthly supply/demand report, brokers said.
Published 13 Jul, 2004 12:00am
Gold firmer in Europe

Gold firmer in Europe

Gold dipped in Europe on Monday, with the market's initial drive up stalled by the euro easing against the dollar, although dealers were still optimistic that prices would eventually surpass last week's three-month high at $408.70 an ounce.
Published 13 Jul, 2004 12:00am
Oil prices end lower on volatile gasoline

Oil prices end lower on volatile gasoline

Oil prices ended lower on Monday after a late wave of profit-taking sales wiped out a gasoline-led rally triggered by a blaze at Norway's biggest oil refinery which halted the plant's gasoline exports and strengthened concerns over transatlantic supply.
Published 13 Jul, 2004 12:00am
London sugar higher

London sugar higher

Liffe white sugar futures closed higher again on fund buying on Monday and risked a correction lower soon, traders said.
Published 13 Jul, 2004 12:00am
London wheat prices slip

London wheat prices slip

London feed wheat futures closed lower after a subdued session that saw more co-operative selling of new crop contracts, dealers said.
Published 13 Jul, 2004 12:00am
NWFP governor leaves for UK

NWFP governor leaves for UK

NWFP Governor Lieutenant General Syed Iftikhar Hussain Shah (Retd) on Monday left Islamabad for Manchester on a four-day official visit to the UK.
Published 13 Jul, 2004 12:00am
Fish dealer issuing bogus cheque held

Fish dealer issuing bogus cheque held

Muslim Town police on Monday arrested a fish dealer of Pakpattan area on charges of issuing bogus cheques to a fish farm owner while his accomplice manage to escape.
Published 13 Jul, 2004 12:00am
Sarhad Chamber seeks tight security at Peshawar dry port

Sarhad Chamber seeks tight security at Peshawar dry port

The Sarhad Chamber of Commerce and Industry (SCCI) has demanded of the Pakistan Railways to increase the number of security personnel at the dry port, ban the entry of the irrelevant elements, and issue special passes to importers, exporters, clearing age
Published 13 Jul, 2004 12:00am
No threat of heavy floods: expert

No threat of heavy floods: expert

A meteorologist while talking to private television on Monday said that as the monsoon phenomenon was set to enter Pakistan within a couple of days, there was no eminent threat of heavy floods in the country.
Published 13 Jul, 2004 12:00am
Tribal Chamber wants levy of CED withdrawn from ghee units

Tribal Chamber wants levy of CED withdrawn from ghee units

President Tribal Area Chamber of Commerce & Industry (TCCI) Haji Ghulam Ali has demanded of the federal government to withdraw the levy of 15 percent Central Excise Duty (CED) on ghee manufacturing units of Fata and Pata.
Published 13 Jul, 2004 12:00am
Child labour still an issue for chocolate industry

Child labour still an issue for chocolate industry

Child workers are still being exploited in West African cocoa fields and the chocolate industry's efforts to stop the abuse are not sufficient to meet a July 2005 deadline, humanitarian and labour activists say.
Published 13 Jul, 2004 12:00am
Yellow journalism

Yellow journalism

A daily carried a news with bold headlines, "Six military farms converted into golf courses, army housing societies: Senate told".
Published 13 Jul, 2004 12:00am
Policemen on duty

Policemen on duty

A police official, Haider Beg, who was an active member of the 1992 operation launched by Interior Minister General Naseerullah Babar (R) was shot dead near his house, in Gulshan-e-Iqbal on 16th June 2004.
Published 13 Jul, 2004 12:00am
Aziz Bhatti Park

Aziz Bhatti Park

This is in reference the news appearing about Major Aziz Bhatti Park, Gulshan-e- Iqbal, Karachi, with reference of Liaquat Ali, District officer, Park, CDGK.
Published 13 Jul, 2004 12:00am
Contradictions galore in CVT levy-I

Contradictions galore in CVT levy-I

This budget is a budget of concessions. Minimum income liable to tax has been raised from Rs 80,000 to Rs 100, 000. Payment of 15% tax for filing of appeal has been withdrawn, written-off loans of the sick units have been exempted from tax, sales upto Rs
Published 13 Jul, 2004 12:00am
ICJ's guilty verdict for Israel

ICJ's guilty verdict for Israel

The International Court of Justice (ICJ) gave its much awaited verdict on the wall that Israel has been building, in blatant disregard for Palestinians' rights, international opinion and law on the occupied West Bank. In a fourteen to one - no prizes for
Published 13 Jul, 2004 12:00am
A challenging task for Shujaat's negotiating skills

A challenging task for Shujaat's negotiating skills

Prime Minister Chaudhry Shujaat has shown time and again that he is a consummate political operator. Part of his armoury is political negotiating skills. Examples of these skills are littered through the last five years since General Pervez Musharraf came
Published 13 Jul, 2004 12:00am
'Animals' health in Punjab satisfactory'

'Animals' health in Punjab satisfactory'

Punjab Livestock Department has asked the breeders to pay attention on proper breeding and balanced feed to animals so that milk and meat production can be increased.
Published 13 Jul, 2004 12:00am
PPF declares 25 percent bonus

PPF declares 25 percent bonus

Pakistan Premier Fund (PPF), a closed-end fund, managed by Arif Habib Investments, has declared bonus of 25 percent for the year ended June 2004.
Published 13 Jul, 2004 12:00am
PPF declares 25 percent bonus

PPF declares 25 percent bonus

Pakistan Premier Fund (PPF), a closed-end fund, managed by Arif Habib Investments, has declared bonus of 25 percent for the year ended June 2004.
Published 13 Jul, 2004 12:00am
Chaunsas' shipments to Middle East starts by air

Chaunsas' shipments to Middle East starts by air

The mango exporters have started shipments of Chaunsa variety of the mango to the Middle Eastern countries by air instead of reefer container as the former has failed to protect the quality of the fruit due to its high sweetened content.
Published 13 Jul, 2004 12:00am
Shortage of stamp papers resented

Shortage of stamp papers resented

People are facing hardships for the shortage of stamp paper of Rs 10,000 denomination in the local courts.
Published 13 Jul, 2004 12:00am
Plot allotted to Jalib's widow

Plot allotted to Jalib's widow

Following the directions passed by Lahore High Court (LHC), Lahore Development Authority (LDA) has allotted a residential 1-kanal plot in Mustafa Town to Mumtaz Begum, widow of late Habib Jalib as the possession of the plot would be handed over to her aft
Published 13 Jul, 2004 12:00am
Habib Bank declares PLS profit rates

Habib Bank declares PLS profit rates

Habib Bank Limited has declared the following rates of profit on PLS deposits for the period of six months ended on 30th June 2004.
Published 13 Jul, 2004 12:00am
Postings and transfers of judges

Postings and transfers of judges

Chief Justice of the Lahore High Court (LHC) made transfers and postings orders for two civil judges cum judicial magistrates.
Published 13 Jul, 2004 12:00am
LHC suspends notification

LHC suspends notification

Lahore High Court (LHC), while issuing notice to the respondent government and the provincial election commission, suspended the notification pertaining to removal of Nazim Union Council-83 Lahore.
Published 13 Jul, 2004 12:00am
ANF told to produce accused in court

ANF told to produce accused in court

Lahore High Court (LHC) has directed Anti-Narcotics Force (ANF) to produce Arshad Bibi and Munazza Bibi before the court on July 27.
Published 13 Jul, 2004 12:00am
Action against LHC CJ demanded

Action against LHC CJ demanded

Chairman Al-Jehad Trust, Habibul Wahabul Khairi advocate has requested the Chief Justice of Pakistan to take suo moto notice against Chief Justice Lahore High Court for his alleged irregularities and corruption.
Published 13 Jul, 2004 12:00am
The Weather

The Weather

The weather report on Monday (July 12) and the forecast for Tuesday (July 13, 2004).
Published 13 Jul, 2004 12:00am
India continues terrorism in IOK: PML-N

India continues terrorism in IOK: PML-N

Pakistan Muslim League-Nawaz (PML-N) central leader, MNA Muhammad Pervaiz Malik expressed, while addressing a Kashmir Martyred Day meeting here on Monday, said that India had built a fence along Line of Control (LoC) achieving the goal that it could not d
Published 13 Jul, 2004 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.
Published 13 Jul, 2004 12:00am
Kazakhstan team holds discussion with MUFAP chief

Kazakhstan team holds discussion with MUFAP chief

A three-member delegation from Ministry of Labour & Social Protection of Kazakhstan, comprising Mrs Leila Serikbayeva, chief of Department of Accumulation Pension System, Ms Kuplash Ternirbekova, head of Unit of Social & Pension Payment, and Ms Assel Turp
Published 13 Jul, 2004 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.
Published 13 Jul, 2004 12:00am
Kazakhstan team holds discussion with MUFAP chief

Kazakhstan team holds discussion with MUFAP chief

A three-member delegation from Ministry of Labour & Social Protection of Kazakhstan, comprising Mrs Leila Serikbayeva, chief of Department of Accumulation Pension System, Ms Kuplash Ternirbekova, head of Unit of Social & Pension Payment, and Ms Assel Turp
Published 13 Jul, 2004 12:00am
Key stock market movements at 1700 GMT on July 12

Key stock market movements at 1700 GMT on July 12

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 13 Jul, 2004 12:00am
Women more prone to osteoporosis

Women more prone to osteoporosis

Women are more prone to develop the disease of osteoporosis than men because of changes in their bodies, and having less bone mass. These views were expressed by experts of the disease of osteoporosis while talking to Business Recorder here on Mond
Published 13 Jul, 2004 12:00am
Textile expo in Dubai next year

Textile expo in Dubai next year

Textile Expo Dubai 2004-05 would be the largest textile machinery and accessories show of the Middle East.
Published 13 Jul, 2004 12:00am
Aptma lauds CBR move

Aptma lauds CBR move

All Pakistan Textile Mills Association (Aptma) has appreciated the CBR, which amended the SRO-508 (1)-2004 withdrawing the requirement of furnishing 'complete addresses' of unregistered buyers and suppliers.
Published 13 Jul, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (July 12, 2004).
Published 13 Jul, 2004 12:00am
Haj balloting held for Sessi employees

Haj balloting held for Sessi employees

The computerised balloting to select employees of Sindh Employees' Social Security Institution (Sessi) under the Haj Scheme was held here on Monday.
Published 13 Jul, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (July 12) and rates for Tuesday (July 13, 2004).
Published 13 Jul, 2004 12:00am
CBR urged to cut duty on green tea

CBR urged to cut duty on green tea

Pakistan Kiryana Merchants Association (PKMA) has demanded of the Central Board of Revenue (CBR) to reduce import duty on green tea and bring it at par with the back tea.
Published 13 Jul, 2004 12:00am
Communication, PR forum formed

Communication, PR forum formed

In a meeting, chaired by the Punjab University's Public Relations Department Head, Rashid Khan here on Monday, public relations and communication professionals of local universities have formed a PR and communication forum.
Published 13 Jul, 2004 12:00am
DIG directed to finalise inquiries

DIG directed to finalise inquiries

Inspector General of Police (IGP) Punjab has asked the DIG Police for early finalisation of inquiries in the cases pertaining to illegal detention, blasphemy law, torture, honour killing, rape and kidnapping.
Published 13 Jul, 2004 12:00am
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