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May 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-16
Russia Paris Club deal could hurt Germany

Russia Paris Club deal could hurt Germany

Germany may get a black eye if Russia moves to erase a black mark from its international standing by paying off Soviet-era debt to other members of the Paris Club of creditor nations. The Paris Club meets this week and the question of Russia's early repay
Published 16 May, 2005 12:00am
Russia Paris Club deal could hurt Germany

Russia Paris Club deal could hurt Germany

Germany may get a black eye if Russia moves to erase a black mark from its international standing by paying off Soviet-era debt to other members of the Paris Club of creditor nations. The Paris Club meets this week and the question of Russia's early repay
Published 16 May, 2005 12:00am
'Free trade crushes world's poorest farmers'

'Free trade crushes world's poorest farmers'

Free-trade development strategies designed by the International Monetary Fund (IMF) and the World Bank have devastated poor countries and left their farmers worse off, a British aid group said in a report released Monday. The hard-line policies of liberal
Published 16 May, 2005 12:00am
Manila rejects comparison with Argentina on economy

Manila rejects comparison with Argentina on economy

The Philippines on Sunday rejected comparisons with Argentina's economy, saying much of Manila's debt burden is in long-term obligations while tax revenues should grow with new tax measures. These "help ensure that the Philippines will be able to honour i
Published 16 May, 2005 12:00am
Employment jump masks deeper ills in US job market

Employment jump masks deeper ills in US job market

An April rebound in hiring might be more of a last hurrah for the US job market in this business cycle than a precursor of robust employment conditions to come, some industry sources say. Data published last week showed a spike in employment last month, w
Published 16 May, 2005 12:00am
UAE banks seen growing in 2005

UAE banks seen growing in 2005

United Arab Emirates' banks will continue to reap gains in 2005 on the back of a strong economy fuelled by high oil prices and major construction projects in the Gulf Arab state, an investment and brokerage house said. EFG-Hermes said in a report that ban
Published 16 May, 2005 12:00am
Japan's growth to pick up in first quarter

Japan's growth to pick up in first quarter

Japan is expected to report Tuesday that economic growth accelerated in the January-March quarter as increased corporate and consumer spending offset faltering export growth, economists say. They said the expected strong performance will show a marked pic
Published 16 May, 2005 12:00am
EU pressed to reform sugar policy after WTO ruling

EU pressed to reform sugar policy after WTO ruling

The European Union is under growing pressure to reform its sugar policy after the WTO ruled against its export subsidies, but cracks in the 25-state bloc cast doubt about reaching an agreement before a key WTO meeting in December. Following a World Trade
Published 16 May, 2005 12:00am
Chinese e-commerce expected to rise 36 percent

Chinese e-commerce expected to rise 36 percent

China's e-commerce transaction volume is expected to rise 36 percent in 2005 to 600 billion yuan (72 billion dollars), state media reported Sunday. The forecast for this year's online activity, which is up from 440 billion yuan last year, was reported by
Published 16 May, 2005 12:00am
End of an era as Iran bids good riddance to British car

End of an era as Iran bids good riddance to British car

The very last Paykan rolled off the production line in Iran on Sunday, with officials bidding good riddance to a British design that has emerged as curse of the Islamic republic's car industry and environment. In a ceremony attended by some 200 officials
Published 16 May, 2005 12:00am
Russia beat Sweden to earn the bronze medal

Russia beat Sweden to earn the bronze medal

Russia erased bitter memories of last year's rocky campaign by winning the bronze medal at the world ice hockey championships after beating Sweden 6-3. Maxim Afinogenov collected two goals and an assist, while Maxim Sokolov produced 20 saves to help Russi
Published 16 May, 2005 12:00am
Bjorn wins British Masters

Bjorn wins British Masters

Thomas Bjorn took the British Masters title here on Sunday when he won the second hole of a sudden death playoff. Bjorn, David Howell and Brian Davis finished the tournament all tied at six-under for the championship. In the first hole of sudden death, th
Published 16 May, 2005 12:00am
Rookie O'Hair leads Byron Nelson Championship

Rookie O'Hair leads Byron Nelson Championship

PGA Tour rookie Sean O'Hair fired a three-under 67 here on Saturday to take sole possession of the lead after three rounds of the 5.8 million-dollar Byron Nelson Championship. The 22-year-old Texan, who started the day tied for the lead with Brett Wetteri
Published 16 May, 2005 12:00am
Federer stops Gasquet run to retain Hamburg title

Federer stops Gasquet run to retain Hamburg title

World number one Roger Federer avenged himself upon wonder-kid Richard Gasquet quicker than he can have ever expected on Sunday when he beat the 18-year-old Frenchman in the final of the Hamburg Masters Series. It was Federer's shock loss to Gasquet in la
Published 16 May, 2005 12:00am
German tennis in turmoil says Wimbledon great Becker

German tennis in turmoil says Wimbledon great Becker

Germany's three-time Wimbledon champion Boris Becker insists his country no longer have any world-class tennis players following the latest failure of German stars at the ATP Hamburg Masters. Tommy Haas, Nicolas Kiefer and Rainer Schuettler all crashed ou
Published 16 May, 2005 12:00am
China exorcises 2003 demons with victory at Sudirman Cup

China exorcises 2003 demons with victory at Sudirman Cup

China exorcised their demons from two years ago with a 3-0 win over Indonesia on Sunday to lift the prestigious Sudirman Cup for the fifth time in nine editions of the world mixed team badminton championships. It was sweet revenge for China after their ru
Published 16 May, 2005 12:00am
South Africa make it four in a row

South Africa make it four in a row

Ashwell Prince and Justin Kemp, helped by a comedy of fielding errors from their opponents, piloted South Africa to a six-wicket victory in the fourth one-day international against West Indies on Saturday. Chasing 232 to win from 50 overs, South Africa re
Published 16 May, 2005 12:00am
Mauresmo hits back to retain Rome title

Mauresmo hits back to retain Rome title

Amelie of Mauresmo of France retained her Rome Masters title here on Sunday hitting back from a set and a break down to defeat a resurgent Patty Schnyder of Switzerland. Mauresmo won 2-6, 6-3, 6-4 in just under two hours at a packed Foro Italico on Sunday
Published 16 May, 2005 12:00am
Rest of Pakistan hold Pakistan Eleven to a three-all draw

Rest of Pakistan hold Pakistan Eleven to a three-all draw

The Rest of Pakistan held the Pakistan Eleven to a three all draw in the first of the best-of-three hockey Tests at the Hockey Club of Pakistan Stadium here on Sunday. At the lemon break both teams were tied in a two-all deadlock. The Pakistan Eleven sele
Published 16 May, 2005 12:00am
Water for life, water for all needed

Water for life, water for all needed

For the third time in five years, the United Nations is trying to point out the world to one of its most serious problems: 2.4 billion people have no toilets or sewers, and 1.1 billion do not even have drinkable water. The lack of sanitation and clean wat
Published 16 May, 2005 12:00am
Biosafety rules notified to control harmful GMOs

Biosafety rules notified to control harmful GMOs

The government has notified the biosafety rules to have vigilance on the movement of harmful Genetically Modified Organisms (GMOs) and benefit from useful organisms for enhancing agricultural produce. These rules will apply to genetically modified organis
Published 16 May, 2005 12:00am
HEALTH UPDATE: apple juice 'protects the heart'

HEALTH UPDATE: apple juice 'protects the heart'

An apple juice a day could keep a trip to the heart doctor away, says research. A team of researchers in US have found that drinking apple juice appears to slow down a process that can lead to heart disease. According to BBC, the researchers at UC Davis S
Published 16 May, 2005 12:00am
HEALTH UPDATE: nuts found to lower diabetes risk in women

HEALTH UPDATE: nuts found to lower diabetes risk in women

Women who eat nuts regularly significantly reduce risk for type 2 diabetes, says a study. Women in a study who reported eating nuts at least five times per week reduced their risk of type 2 diabetes by almost 30 per cent compared to those who rarely or ne
Published 16 May, 2005 12:00am
HEALTH UPDATE: eggs do not cause heart disease in healthy individuals

HEALTH UPDATE: eggs do not cause heart disease in healthy individuals

it's time to give eggs a break because contrary to popular belief eggs do not have a negative effect on blood cholesterol levels, says a study. In fact, a study by the prestigious Harvard School of Public Health found no significant link between eating eg
Published 16 May, 2005 12:00am
Google, for now, not splitting stock

Google, for now, not splitting stock

The chief executive at Web search leader Google Inc said on Thursday that the company, for now, has decided not to split its stock - which trades at around $229 a share. "We decided to not do it at this time," Google Chief Executive Eric Schmidt said at G
Published 16 May, 2005 12:00am
Google, for now, not splitting stock

Google, for now, not splitting stock

The chief executive at Web search leader Google Inc said on Thursday that the company, for now, has decided not to split its stock - which trades at around $229 a share. "We decided to not do it at this time," Google Chief Executive Eric Schmidt said at G
Published 16 May, 2005 12:00am
Yahoo introduces online music subscription service

Yahoo introduces online music subscription service

Internet powerhouse Yahoo Inc is introducing an online music subscription service that will enable consumers to download thousands of songs onto their portable MP3 players for $60 annually, undercutting the prices of the current industry leaders by more t
Published 16 May, 2005 12:00am
Dell to push PC Web links via phone networks

Dell to push PC Web links via phone networks

Dell Inc , the world's largest maker of personal computers, said on Thursday it aims to extend the use of high-speed Internet connections on notebook PCs by offering links via mobile phone networks. But a company spokesman denied a French newspaper report
Published 16 May, 2005 12:00am
Nintendo to launch new game console in 2006

Nintendo to launch new game console in 2006

Nintendo Co will launch its new video game console sometime next year, missing the key 2005 holiday shopping season and putting it a step behind Microsoft Corp in the battle for the next-generation game machine, the Nihon Keizai Shimbun reported on Saturd
Published 16 May, 2005 12:00am
Microsoft to launch MSN China web portal

Microsoft to launch MSN China web portal

United States computer software giant Microsoft Corp said it had formed a joint venture with China's state-funded Shanghai Alliance Investment Ltd (SAIL) to launch the MSN China web portal later this spring. The venture, Shanghai MSN Network Communication
Published 16 May, 2005 12:00am
Emerson's Digital Scroll Tech for China's Air Conditioning Project

Emerson's Digital Scroll Tech for China's Air Conditioning Project

The AFP quoted as saying that the Emerson Climate Technologies(TM), a business of Emerson (NYSE: EMR), on Friday announced that its innovative and energy efficient digital scroll compressor technology will help power the largest central air conditioning p
Published 16 May, 2005 12:00am
Microsoft eyes Hitachi for cross-licensing

Microsoft eyes Hitachi for cross-licensing

Microsoft Corp is seeking a cross-licensing agreement with Hitachi Ltd, Japan's largest electronics conglomerate, following a similar deal with Toshiba Corp, a Japanese newspaper said on Saturday. Microsoft's moves come when it is seeking to spread the ad
Published 16 May, 2005 12:00am
Foreign mobile phone makers winning back market in China

Foreign mobile phone makers winning back market in China

Foreign mobile phone makers such as Motorola and Nokia are winning back market share from China's fast growing domestic handset producers by promoting cheaper models, a consulting firm reported on Wednesday. Foreign rivals to the likes of China's TCL and
Published 16 May, 2005 12:00am
Foreign mobile phone makers winning back market in China

Foreign mobile phone makers winning back market in China

Foreign mobile phone makers such as Motorola and Nokia are winning back market share from China's fast growing domestic handset producers by promoting cheaper models, a consulting firm reported on Wednesday. Foreign rivals to the likes of China's TCL and
Published 16 May, 2005 12:00am
Hewlett-Packard may benefit from drop in Dell printer sales

Hewlett-Packard may benefit from drop in Dell printer sales

A sharp drop in consumer printer sales at Dell Inc in an otherwise glowing quarterly report may offer an opening to rival Hewlett-Packard Co when it posts its own earnings results next week. HP, the top maker of personal computer printers, is set to post
Published 16 May, 2005 12:00am
Next-generation gaming consoles to dominate E3 show

Next-generation gaming consoles to dominate E3 show

When the video game industry gathers in Los Angeles next week for its annual trade show, everyone from the most important game developers to technophiles will have just one thing on their minds: new toys. Sony Corp, Microsoft Corp and Nintendo Co Ltd are
Published 16 May, 2005 12:00am
Brazil launches plan to raise PC use among poor

Brazil launches plan to raise PC use among poor

The Brazilian government on Thursday launched a much-awaited plan to increase computer use that will subsidise the purchase of inexpensive PCs using free, open-source software. Concurrently, the government announced it would cut taxes for costlier persona
Published 16 May, 2005 12:00am
Big firms in race for India MphasiS stake: Barings

Big firms in race for India MphasiS stake: Barings

Private equity firm Barings said on May 10, it was in talks with leading global information technology companies to sell its 35.6 percent stake in Indian software and back-office firm MphasiS BFL Ltd. "All the interested boys are big. We meet typically tw
Published 16 May, 2005 12:00am
Big firms in race for India MphasiS stake: Barings

Big firms in race for India MphasiS stake: Barings

Private equity firm Barings said on May 10, it was in talks with leading global information technology companies to sell its 35.6 percent stake in Indian software and back-office firm MphasiS BFL Ltd. "All the interested boys are big. We meet typically tw
Published 16 May, 2005 12:00am
Ericsson says 2005 services market worth $55 billion

Ericsson says 2005 services market worth $55 billion

Telecoms equipment maker Ericsson expects the market for managing and rolling out operator networks this year to grow almost 10 percent to around $55 billion, its services unit chief said on May 12. Hans Vestberg also said he saw growing operator interest
Published 16 May, 2005 12:00am
German bank Helaba buys Fraspa savings bank

German bank Helaba buys Fraspa savings bank

German state bank Landesbank Hessen-Thueringen (Helaba) has agreed to take over regional savings bank Frankfurter Sparkasse (Fraspa) for 725 million euros ($931.3 million), the two banks said on May 14. The long-expected deal marks a rare consolidation in
Published 16 May, 2005 12:00am
Nokia signs strategic partnership with Warid Telecom

Nokia signs strategic partnership with Warid Telecom

Warid Telecom, one of the emerging companies in the telecommunications industry signed a strategic partnership with Nokia in Islamabad on Fiday. The partnership between Nokia and Warid Telecom aims to encourage the placement of the latest technologies in
Published 16 May, 2005 12:00am
Casio plans to up global digital camera output

Casio plans to up global digital camera output

Japan's Casio Computer Co said on May 10, it plans to boost its global output and shipments of digital cameras by 35 percent to 5 million units in the current business year, thanks to strong demand in China, Southeast Asia and the United States. The preci
Published 16 May, 2005 12:00am
Casio plans to up global digital camera output

Casio plans to up global digital camera output

Japan's Casio Computer Co said on May 10, it plans to boost its global output and shipments of digital cameras by 35 percent to 5 million units in the current business year, thanks to strong demand in China, Southeast Asia and the United States. The preci
Published 16 May, 2005 12:00am
SkyEurope orders 16 new Boeing 737-700

SkyEurope orders 16 new Boeing 737-700

Slovakia-based budget airline SkyEurope said on May 10, it had ordered 16 new Boeing 737-700 planes worth $880 million at list prices to completely renew its fleet. Spokesman Eryk Klopotowski told Reuters the company had the option to buy 16 more planes i
Published 16 May, 2005 12:00am
ScanSoft and Nuance merge in speech automation deal

ScanSoft and Nuance merge in speech automation deal

ScanSoft Inc said on Monday it had agreed to buy Nuance Communications Inc in a $221 million merger of two of the survivors in the slow-to-develop market for computer speech recognition. Under the cash and stock deal, ScanSoft will issue about 28 million
Published 16 May, 2005 12:00am
BenQ looks to Indian R&D to battle Korean rivals

BenQ looks to Indian R&D to battle Korean rivals

BenQ Corp, Taiwan's top maker of computer gear and mobile phones, is relying on a new team of Indian software engineers to help take on its Korean rivals, the president of its Asia Pacific operations said. BenQ, which launched LCD projectors, flat-screen
Published 16 May, 2005 12:00am
Lenovo sees profit doubling in three years

Lenovo sees profit doubling in three years

The new chief of Lenovo Group Ltd, the world's number-three PC maker, aims to double profit within three years, defying investor doubts it can turn around the loss-making PC business it bought from IBM. Lenovo also expects to grab more market share and ev
Published 16 May, 2005 12:00am
Lenovo sees profit doubling in three years

Lenovo sees profit doubling in three years

The new chief of Lenovo Group Ltd, the world's number-three PC maker, aims to double profit within three years, defying investor doubts it can turn around the loss-making PC business it bought from IBM. Lenovo also expects to grab more market share and ev
Published 16 May, 2005 12:00am
Private equity seen doubling to $3 billion in India

Private equity seen doubling to $3 billion in India

Private equity investments in India are expected to more than double to $3 billion in 2005, with a large part going to the outsourcing sector that is growing at 30-40 percent a year, a fund manager said on May 11. Automobile parts makers, health care firm
Published 16 May, 2005 12:00am
Private equity seen doubling to $3 billion in India

Private equity seen doubling to $3 billion in India

Private equity investments in India are expected to more than double to $3 billion in 2005, with a large part going to the outsourcing sector that is growing at 30-40 percent a year, a fund manager said on May 11. Automobile parts makers, health care firm
Published 16 May, 2005 12:00am
Thai shares to trade in a narrow range

Thai shares to trade in a narrow range

Thai shares prices are expected to trade within a tight range on selective buying this week amid a lack of fresh leads to spur the market forward, dealers said. "The index will continue to move sideways because we do not have any new factors," Pichai Lert
Published 16 May, 2005 12:00am
Hong Kong stocks seen falling further

Hong Kong stocks seen falling further

Hong Kong share prices are set to fall further this week as speculation wanes over a revaluation of the Chinese yuan amid a lack of fresh news to drive the market forward, dealers said. Recent falls on Wall Street will also cast a shadow over the market,
Published 16 May, 2005 12:00am
Argentina sees prompt return to bond markets

Argentina sees prompt return to bond markets

Argentine Finance Secretary Guillermo Nielsen on Friday said his country could return to international bond markets "sooner that most people expect" amid healthy appetite for the country's debt. "Argentina could go to market sooner than most people expect
Published 16 May, 2005 12:00am
Argentina sees prompt return to bond markets

Argentina sees prompt return to bond markets

Argentine Finance Secretary Guillermo Nielsen on Friday said his country could return to international bond markets "sooner that most people expect" amid healthy appetite for the country's debt. "Argentina could go to market sooner than most people expect
Published 16 May, 2005 12:00am
London stock market looks for solid gains

London stock market looks for solid gains

London investors would likely look to "defensive" shares this week for solid gains on the capital's stock market, analysts said. The FTSE 100 index of leading London shares closed at 4,886.5 points on Friday, down 32.4 points, or 0.66 percent, since the p
Published 16 May, 2005 12:00am
Euronext-Boerse tie-up tricky, not impossible

Euronext-Boerse tie-up tricky, not impossible

Talk of a merger between Euronext and Deutsche Boerse - reportedly backed by Deutsche's main shareholder - raises the specter of anti-trust objections but cannot be ruled out in the face of increased US competition, analysts said on Tuesday.
Published 16 May, 2005 12:00am
Egypt interbank rate dips

Egypt interbank rate dips

The median overnight interbank rate on the Egyptian pound dipped to 10-1/2 percent on Sunday from 10-7/8 percent on Thursday in quiet trading as banks waited for results of a reverse repo auction, dealers said. Many banks preferred to place their funds in
Published 16 May, 2005 12:00am
Cairo shares dip ahead of Raya debut

Cairo shares dip ahead of Raya debut

Egyptian shares dipped on Sunday as some retail investors sold shares to free up cash to take part in new bourse listings but volumes overall were low because many foreigners were still away for their weekend, traders said. Yasser Hassanein of Dynamic Sec
Published 16 May, 2005 12:00am
Singapore shares seen weaker

Singapore shares seen weaker

Singapore share prices are expected to weaken this week, with the weighting reduction of select blue chips in a key index likely to dampen market sentiment, dealers said. With the corporate earnings season just concluded, the market would next focus on th
Published 16 May, 2005 12:00am
Taiwan shares seen range-bound this week

Taiwan shares seen range-bound this week

Taiwan share prices are expected to remain rangebound this week amid concern over President Chen Shui-bian's China policies after landmark visits to the mainland by two opposition leaders, dealers said. However, political uncertainties in the market would
Published 16 May, 2005 12:00am
Tokyo stocks seen steady; GDP, US CPI data to set tone

Tokyo stocks seen steady; GDP, US CPI data to set tone

Japanese shares are likely to trade steady this week but could gain on January-March economic growth data which is forecast to show a strong gain from the sluggish previous quarter, dealers said. The Nikkei-225 index on the Tokyo Stock Exchange had also f
Published 16 May, 2005 12:00am
Indonesian market seen sluggish

Indonesian market seen sluggish

Trading on the Indonesian stock market is expected to be sluggish and quiet this week amid a lack of fresh leads, dealers said. "I think it will not be different from this week. There's no strong impetus to boost trading," said David Ferdinandus of with A
Published 16 May, 2005 12:00am
Indian stocks seen mixed on firm rupee concerns

Indian stocks seen mixed on firm rupee concerns

Indian shares are expected to trade mixed this week as worries about a strengthening rupee keeps pressure on markets and investors wait for a positive trigger, dealers said. They said investors kept to the sidelines during the week as the Indian currency
Published 16 May, 2005 12:00am
US stocks: inflation to get investors' attention

US stocks: inflation to get investors' attention

Any indication this week that inflation may be cooling off would provide the fuel needed for a long-awaited pickup in US stocks as the corporate earnings season comes to a close, market strategists said. The US Labour Department will release reports on pr
Published 16 May, 2005 12:00am
Nepal police break up pro-democracy rally

Nepal police break up pro-democracy rally

Nepali police broke up a pro-democracy rally and arrested dozens of protesters in Kathmandu on Sunday as some 200 students defied a ban on demonstrations. Protesters shouting anti-king slogans and demanding the restoration of democracy were dragged into v
Published 16 May, 2005 12:00am
US warns North Korea against nuclear defiance

US warns North Korea against nuclear defiance

The US administration warned North Korea on Sunday that any nuclear arms test would be seen as a serious act of defiance that would face action. But US National Security Advisor Stephen Hadley denied that US attempts to get China to put greater pressure o
Published 16 May, 2005 12:00am
Deal sought in showdown over Bush's judges

Deal sought in showdown over Bush's judges

US Senate leaders and a number of colleagues sought a last-ditch compromise on Sunday to avert a battle over President George W. Bush's judicial nominees that could alter the balance of power between the US Congress and the White House. "I think we're clo
Published 16 May, 2005 12:00am
Saudi reformers get up to nine years in prison

Saudi reformers get up to nine years in prison

A Riyadh court jailed three Saudi reformers accused of seeking a constitutional monarchy for between six and nine years Sunday in a case that has cast a shadow over tentative reform moves. Ali al-Demaini was sentenced to nine years, Abdullah al-Hamed to s
Published 16 May, 2005 12:00am
Croatian polls seen as test for conservative government

Croatian polls seen as test for conservative government

Croatians voted Sunday in local and regional polls seen as a tough test for the conservative government, which has lost support over its failure to improve the economy and start European Union entry talks. Some four million voters are eligible to cast the
Published 16 May, 2005 12:00am
Search for bodies in Uzbekistan after crackdown

Search for bodies in Uzbekistan after crackdown

Distraught relatives searched for bodies in Uzbekistan's smouldering city of Andijan, where dozens were killed in a military crackdown after anti-government protests that hard-line President Islam Karimov blamed on Islamic radicals. Britain slammed the vi
Published 16 May, 2005 12:00am
Ethiopian voters swamp polling sites

Ethiopian voters swamp polling sites

Voters swarmed polling stations here Sunday to cast ballots in Ethiopia's hotly contested elections as the opposition alleged widespread abuses and renewed threats to reject the results. Despite doubts expressed by international observers, Ethopia's two m
Published 16 May, 2005 12:00am
US against veto power to new members of UN Council

US against veto power to new members of UN Council

US officials have warned Japan, India, Germany and Brazil that they will not support their bids to join the UN Security Council unless they agree not to ask for veto power, the New York Times reported Sunday, citing senior diplomats and administration off
Published 16 May, 2005 12:00am
10 Bangladeshis die as ferry sinks

10 Bangladeshis die as ferry sinks

At least 10 people have died and over 70 are missing after a twin-deck ferry with more than 100 aboard sank on a river during a storm in southern Bangladesh on Sunday, police said. Rescuers were trying to reach the spot where the ferry went down in the ch
Published 16 May, 2005 12:00am
Thousands protest to close US base in Okinawa

Thousands protest to close US base in Okinawa

Thousands of protesters formed a human chain Sunday around a US Marine base on the southern Japanese island of Okinawa demanding the immediate closure of the facility that has long met local opposition. The United States has already agreed to move the Fut
Published 16 May, 2005 12:00am
Rice makes surprise Iraq visit as violence rages

Rice makes surprise Iraq visit as violence rages

US Secretary of State Condoleezza Rice Sunday flew to Baghdad to give the new Iraqi government a strong vote of confidence even as dozens of corpses turned up in a grizly sign of rampant insecurity. "We were impressed with your leadership of this democrat
Published 16 May, 2005 12:00am
China and Japan fail to reach agreement on riot damage

China and Japan fail to reach agreement on riot damage

China and Japan have failed to reach an agreement on compensation for Japanese property damaged during three weekends of riots in China, officials and media said Sunday. The Japanese delegation, headed by Vice Foreign Minister Shotaro Yachi, met with Chin
Published 16 May, 2005 12:00am
Indian defence minister caught in Congress brawl

Indian defence minister caught in Congress brawl

Police were forced to intervene after fighting broke out on Sunday between officials from India's ruling Congress party, threatening the safety of the defence minister. Pranab Mukherjee was visibly shaken by the outburst involving some 250 party members i
Published 16 May, 2005 12:00am
No peace without Palestinian state: Abbas

No peace without Palestinian state: Abbas

Palestinians marked the blackest day in their history Sunday with warnings that there would be no Middle East peace until they are handed independence and the plight of their refugees is solved. Fifty-seven years on from the foundation of the state of Isr
Published 16 May, 2005 12:00am
The significance of ADB meeting at Istanbul

The significance of ADB meeting at Istanbul

Pakistan was one of the 31 founding members of ADB in 1966. In all these years, we have managed to have only 23 Pakistani professionals employed at its headquarters in Manila; while the People's Republic of China, which joined ADB in 1986, has as of Decem
Published 16 May, 2005 12:00am
The fall of KS - silence of the lamb

The fall of KS - silence of the lamb

Was the rise and fall of the KSE 100 a policy mistake - a political and economic error of judgement or what? It is a strange coincidence that around the globe a dozen stock markets in the emerging economies reached their all-time peaks around the same tim
Published 16 May, 2005 12:00am
Shortcomings of shipping policy and ordinance-II

Shortcomings of shipping policy and ordinance-II

The main reason of a defective Shipping Policy is attributed to massive corruption, inefficiency, mal-administration, misappropriations and embezzlements of huge funds in the shipping industry with particular reference to PNSC. Several complaints have bee
Published 16 May, 2005 12:00am
Teen Talwar construction

Teen Talwar construction

Due to the ongoing massive construction activity at Clifton from Teen Talwar Roundabout to Two Talwar Roundabout there are always traffic jams at Agha's roundabout which is understandable. The traffic miseries are compounded because of the ongoing Mai Kol
Published 16 May, 2005 12:00am
Artificial water scarcity

Artificial water scarcity

For the last two months an artificial water scarcity has been created for all the houses in Block-7. Kahkashan, KDA Scheme 5. For the last two years, ever since the water distribution was supervised by the Nazim of the area, people living in Block-7 had n
Published 16 May, 2005 12:00am
PIA's undisciplined corporate culture

PIA's undisciplined corporate culture

As aviation industry developed, the concept of the traditional stick-jockey pilot also changed. Regulatory bodies the world over have been more active to keep a check on those who do not observe the mandatory abstinence period between bottle and throttle.
Published 16 May, 2005 12:00am
Power cuts threaten India's financial centre

Power cuts threaten India's financial centre

A bright-red Virgin Atlantic airlines billboard along the main road in India's financial capital beckons residents of one of the world's most crowded cities to escape into luxury. "Now every Mumbaite (Bombay resident) will be pampered like a superstar," s
Published 16 May, 2005 12:00am
US fears Iraq's cash economy offers easy money to insurgents

US fears Iraq's cash economy offers easy money to insurgents

In Iraq, unregulated money transfers known as "hawala" are at the heart of the country's largely cash economy, but US officials fear they also help fund the insurgency. The unofficial banking system is common to much of the Middle East where it helps smoo
Published 16 May, 2005 12:00am
Open season for sugar mills

Open season for sugar mills

The government has opened an open season on sugar mills. The prices have refused to come down, in spite of all possible measures. Having reached Rs 30/- a kg they have reluctantly come down to Rs 28/-. They should have been around Rs 20/-. Monopoly Contro
Published 16 May, 2005 12:00am
US owes an apology to Muslims

US owes an apology to Muslims

The report of alleged desecration of the Holy Quran by American military interrogators at the Guantanamo Bay prison have added fuel to the fire of anti-Americanism that has remained ablaze in parts of Afghanistan. For the third consecutive day on Thursday
Published 16 May, 2005 12:00am
Action plan for seafood exports

Action plan for seafood exports

In the midst of fears of Pakistan failing to boost its seafood export in accordance with its tremendous potential, it is reassuring to learn of emerging prospect of early efforts to help the business prosper. This has reference to a report on the proceedi
Published 16 May, 2005 12:00am
Khussa getting popular in Seoul

Khussa getting popular in Seoul

The Pakistani shoes 'Khussa', especially made in Lahore and Multan, are getting popular in South Korea. Faiz Ahmad, who owns Asia Accessories in Seoul, says that the shoes of his country are getting popular by the day. "The beautiful designs please the ey
Published 16 May, 2005 12:00am
Rickshaw drivers stage protest rally

Rickshaw drivers stage protest rally

Hundreds of rickshaw drivers on Sunday staged a demonstration in front of the local Press Club as a protest against the imposition of ban on the two-stroke rickshaws and prohibiting the use of LPG cylinders in rickshaws. They alleged that the step has bee
Published 16 May, 2005 12:00am
'Corrupt Nazims to be interrogated'

'Corrupt Nazims to be interrogated'

Punjab Minister for Law and Local Government, Muhammad Basharat Raja has said that the government has decided in principle to appoint the administrators replacing Nazims at all the District and Tehsil level while corrupt Nazims would be probed. "The admin
Published 16 May, 2005 12:00am
Seminar on HIV/AIDS today

Seminar on HIV/AIDS today

In order to create awareness about HIV/AIDS, the Family Association of Pakistan (FAP) will hold a public seminar on the factors of spreading HIV/AIDS and sexual and reproductive health (SRH) in a local hotel here on Monday. On the occasion, two videos tit
Published 16 May, 2005 12:00am
Temperature to rise gradually

Temperature to rise gradually

Though average temperature in May for the city is 43.0 Celsius, yet this year mercury has remained below 40.0C in the city so far and weather experts predicting gradual rise in temperature in coming days. Local Met official, talking to APP here on Sunday,
Published 16 May, 2005 12:00am
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