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Jun 01, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-20
Textile exports up 32 percent

Textile exports up 32 percent

Textile exports of all categories are increasing appreciably under the quota-free World Trade Organisation (WTO) regime effective January 2005, senior officials of textiles and commerce ministries told Business Recorder here on Thursday. Officials
Published 20 May, 2005 12:00am
Textile exports up 32 percent

Textile exports up 32 percent

Textile exports of all categories are increasing appreciably under the quota-free World Trade Organisation (WTO) regime effective January 2005, senior officials of textiles and commerce ministries told Business Recorder here on Thursday. Officials
Published 20 May, 2005 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
Textile exports up 32 percent

Textile exports up 32 percent

Textile exports of all categories are increasing appreciably under the quota-free World Trade Organisation (WTO) regime effective January 2005, senior officials of textiles and commerce ministries told Business Recorder here on Thursday. Officials
Published 20 May, 2005 12:00am
US policies forcing world to opt for multi-polar system: CPAPD

US policies forcing world to opt for multi-polar system: CPAPD

Negative policies and aggression of United States forced the world to opt for a multi-polar world order as uni-polar system had proved fatal for the world, where nations were not ensured and accorded equal civil, military, social and economic rights. Thes
Published 20 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Today was the third consecutive day of yield decline. The BMA-PGBI yield was down by approximately one bps, and the BMA-PGBI went up by 0.06% close at 93.2889. Bond activity remained nominal and the demand for Bond kept the yield low.

Published 20 May, 2005 12:00am
Senate session summoned on May 31

Senate session summoned on May 31

The Senate has been summoned to meet on May 31 for the budget session at the Parliament House here. A notification issued by the Senate Secretariat said that President General Pervez Musharraf, under Clause-1 of the Article 54 of the Constitution, called
Published 20 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Today was the third consecutive day of yield decline. The BMA-PGBI yield was down by approximately one bps, and the BMA-PGBI went up by 0.06% close at 93.2889. Bond activity remained nominal and the demand for Bond kept the yield low.

Published 20 May, 2005 12:00am
President sets aside FTO recommendations

President sets aside FTO recommendations

The recommendations of Federal Tax Ombudsman (FTO) would only become binding when the President will issue directives to the department for implementation. The observation was made by the President's office on May 6, 2005 on the representation made by the
Published 20 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Today was the third consecutive day of yield decline. The BMA-PGBI yield was down by approximately one bps, and the BMA-PGBI went up by 0.06% close at 93.2889. Bond activity remained nominal and the demand for Bond kept the yield low.

Published 20 May, 2005 12:00am
'Rs 5 notes to be exchanged with coins by June 30'

'Rs 5 notes to be exchanged with coins by June 30'

The State Bank of Pakistan (SBP) has advised the general public to surrender/exchange Rs 5 denomination bank notes with Rs 5 coins from any branch of a commercial bank or a field office of SBP Banking Services Corporation up to June 30, 2005 as these note
Published 20 May, 2005 12:00am
KSE clears UBL and Chenab Limited IPOs, issue

KSE clears UBL and Chenab Limited IPOs, issue

The Karachi Stock Exchange has cleared the offer for sale document of the United Bank Limited (UBL) and prospectus/ offer for sale of Chenab Limited. The total issued, subscribed, and paid-up capital of the UBL is Rs 5,180 million, out of which an amount
Published 20 May, 2005 12:00am
Fourth Kashmir bus run ends safely

Fourth Kashmir bus run ends safely

Passengers left occupied Srinagar on the fourth trans-Kashmir bus run amid heavy security. Police cars, sirens wailing and armoured vehicles accompanied the two buses as they set off carrying 32 passengers bound for Muzaffarabad, for reunions with relativ
Published 20 May, 2005 12:00am
Russian lake disappears, baffling villagers

Russian lake disappears, baffling villagers

A Russian village was left baffled on Thursday after its lake disappeared overnight. NTV television showed pictures of a giant muddy hole bathed in summer sun, while fishermen from the village of Bolotnikovo looked on disconsolately. "It is very dangerous
Published 20 May, 2005 12:00am
EU chair proposes lowering Britain's EU rebate

EU chair proposes lowering Britain's EU rebate

European Union president Luxembourg on Thursday proposed scaling down Britain's controversial rebate from the bloc's coffers and cutting payments to the budget by Germany, the Netherlands and Sweden. Luxembourg's proposal, due to be discussed by EU foreig
Published 20 May, 2005 12:00am
DNA links isolated Indian island tribes directly to African 'Eve'

DNA links isolated Indian island tribes directly to African 'Eve'

Two primitive tribes in India's Andaman and Nicobar islands are believed to be direct descendants of the first humans who migrated from Africa at least 50,000 years ago, according to a study by Indian biologists. A team of biologists at the Centre for Cel
Published 20 May, 2005 12:00am
Thousands of Bangladeshi migrants flee India's Assam

Thousands of Bangladeshi migrants flee India's Assam

Thousands of Bangladeshis have fled India's north-eastern state of Assam following threats by anonymous groups against migrants and a campaign asking locals not to employ foreigners, officials and residents said. The unidentified groups in the troubled st
Published 20 May, 2005 12:00am
Japan keeps economy assessment

Japan keeps economy assessment

Japan's economy is recovering at a moderate pace, the government said on Thursday, keeping its assessment unchanged despite data this week showing that GDP grew at its fastest clip in a year in the first quarter of 2005. The official view on exports was u
Published 20 May, 2005 12:00am
LSE index gains 54.82 points

LSE index gains 54.82 points

The share values were in bullish mood on Lahore Stock Exchange (LSE) with oil and gas sector outshining following fresh news of state-owned entities' privatisation. The LSE-25 index moved up 54.82 points or 1.44 per cent, closing at 3842.99 as compared to
Published 20 May, 2005 12:00am
LSE index gains 54.82 points

LSE index gains 54.82 points

The share values were in bullish mood on Lahore Stock Exchange (LSE) with oil and gas sector outshining following fresh news of state-owned entities' privatisation. The LSE-25 index moved up 54.82 points or 1.44 per cent, closing at 3842.99 as compared to
Published 20 May, 2005 12:00am
Bulls stage comeback on ISE

Bulls stage comeback on ISE

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where equities witnessed broad-based recovery under the lead of trend-setters amid increase in index. Brokers said that the fresh buying spree in hot favourite moved the entire ready
Published 20 May, 2005 12:00am
Bulls stage comeback on ISE

Bulls stage comeback on ISE

Bulls returned in the driving seat at the Islamabad Stock Exchange (ISE) where equities witnessed broad-based recovery under the lead of trend-setters amid increase in index. Brokers said that the fresh buying spree in hot favourite moved the entire ready
Published 20 May, 2005 12:00am
Iraqi oil official among 17 killed

Iraqi oil official among 17 killed

Gunmen killed an oil ministry official on Thursday and escalating violence claimed at least 16 more lives, fuelling fears Iraq may be moving towards civil war. The oil official, Ali Hameed, was shot outside his home as he left for work, a police official
Published 20 May, 2005 12:00am
KSE index up 65.65 points

KSE index up 65.65 points

The share market received heavy jolts in the morning session, but activity in PSO, PPL and OGDC helped the index finish in the positive zone on Thursday but cautious approach from small investors pushed the daily volume. The KSE-100 index rose 65.65 point
Published 20 May, 2005 12:00am
KSE index up 65.65 points

KSE index up 65.65 points

The share market received heavy jolts in the morning session, but activity in PSO, PPL and OGDC helped the index finish in the positive zone on Thursday but cautious approach from small investors pushed the daily volume. The KSE-100 index rose 65.65 point
Published 20 May, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
KSE index up 65.65 points

KSE index up 65.65 points

The share market received heavy jolts in the morning session, but activity in PSO, PPL and OGDC helped the index finish in the positive zone on Thursday but cautious approach from small investors pushed the daily volume. The KSE-100 index rose 65.65 point
Published 20 May, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 19, 2005).
Published 20 May, 2005 12:00am
EU bars clearance of Pakistani seafood shipments

EU bars clearance of Pakistani seafood shipments

The European Union (EU) has restrained the port authorities of its member countries from clearing imported seafood shipments, originating from Pakistan. The EU''s health-related department, in a letter to port authorities has imposed the ban on clearance
Published 20 May, 2005 12:00am
EU bars clearance of Pakistani seafood shipments

EU bars clearance of Pakistani seafood shipments

The European Union (EU) has restrained the port authorities of its member countries from clearing imported seafood shipments, originating from Pakistan. The EU's health-related department, in a letter to port authorities has imposed the ban on clearance o
Published 20 May, 2005 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
EU bars clearance of Pakistani seafood shipments

EU bars clearance of Pakistani seafood shipments

The European Union (EU) has restrained the port authorities of its member countries from clearing imported seafood shipments, originating from Pakistan. The EU's health-related department, in a letter to port authorities has imposed the ban on clearance o
Published 20 May, 2005 12:00am
$110.2 million decline in foreign exchange reserves

$110.2 million decline in foreign exchange reserves

Total liquid foreign reserves registered a decline of $110.2 million during the week ended on May 14 as these stood at $12,767.8 million, State bank of Pakistan announced here on Thursday. The SBP held $10,042 million compared to $10,110.8 million held la
Published 20 May, 2005 12:00am
$110.2 million decline in foreign exchange reserves

$110.2 million decline in foreign exchange reserves

Total liquid foreign reserves registered a decline of $110.2 million during the week ended on May 14 as these stood at $12,767.8 million, State bank of Pakistan announced here on Thursday. The SBP held $10,042 million compared to $10,110.8 million held la
Published 20 May, 2005 12:00am
$110.2 million decline in foreign exchange reserves

$110.2 million decline in foreign exchange reserves

Total liquid foreign reserves registered a decline of $110.2 million during the week ended on May 14 as these stood at $12,767.8 million, State bank of Pakistan announced here on Thursday. The SBP held $10,042 million compared to $10,110.8 million held la
Published 20 May, 2005 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
Imported inputs release: bank guarantee condition to be abolished

Imported inputs release: bank guarantee condition to be abolished

The Central Board of Revenue (CBR) will abolish the condition of bank guarantee submission by the importers for provisional release of raw materials/inputs imported at concessional rate of customs duty. The CBR will announce the decision in the coming Fed
Published 20 May, 2005 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
Imported inputs release: bank guarantee condition to be abolished

Imported inputs release: bank guarantee condition to be abolished

The Central Board of Revenue (CBR) will abolish the condition of bank guarantee submission by the importers for provisional release of raw materials/inputs imported at concessional rate of customs duty. The CBR will announce the decision in the coming Fed
Published 20 May, 2005 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 19, 2005).

Published 20 May, 2005 12:00am
Imported inputs release: bank guarantee condition to be abolished

Imported inputs release: bank guarantee condition to be abolished

The Central Board of Revenue (CBR) will abolish the condition of bank guarantee submission by the importers for provisional release of raw materials/inputs imported at concessional rate of customs duty. The CBR will announce the decision in the coming Fed
Published 20 May, 2005 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 20 May, 2005 12:00am
Abbas seeks Pakistan's role in Middle East peace

Abbas seeks Pakistan's role in Middle East peace

Palestinian leader Mahmud Abbas on Thursday said Pakistan can play a greater role in bringing peace to the Middle East. In a brief chat with newsmen after meeting Prime Minister Shaukat Aziz, the Palestinian leader said his country would like Pakistan to
Published 20 May, 2005 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 20 May, 2005 12:00am
Abbas seeks Pakistan's role in Middle East peace

Abbas seeks Pakistan's role in Middle East peace

Palestinian leader Mahmud Abbas on Thursday said Pakistan can play a greater role in bringing peace to the Middle East. In a brief chat with newsmen after meeting Prime Minister Shaukat Aziz, the Palestinian leader said his country would like Pakistan to
Published 20 May, 2005 12:00am
Sindh University PhD programme

Sindh University PhD programme

Sindh University vice-chancellor Mazharul Haq Siddiqui has stressed upon heads of teaching institutes and university departments to encourage young faculty members for Ph.D. research programmes. He said young faculty members should benefit themselves with
Published 20 May, 2005 12:00am
New York arabica coffee

New York arabica coffee

In Brazil, arabica futures were flat to up. On the weather front, forecaster Meteorlogix predicted dry weather to persist in top coffee grower Brazil through on Saturday, followed by widely scattered showers on Sunday and Monday. In its long-range forecas
Published 20 May, 2005 12:00am
No bid to blow up Mirani dam: Wapda

No bid to blow up Mirani dam: Wapda

Water and Power Development Authority (Wapda) has clarified that no untoward incident took place at the Mirani dam site. A spokesman of Wapda said here on Thursday that news regarding an attempt to blow up Mirani dam that appeared in a section of the pres
Published 20 May, 2005 12:00am
New York cocoa higher

New York cocoa higher

New York cocoa futures edged higher in quiet trading on Wednesday, with contract switching and spread trading dominating the bulk of activity, traders said. The benchmark July cocoa contract rose $15, or just over 1 percent, to settle at $1,453 a tonne on
Published 20 May, 2005 12:00am
Fisheries sector issues discussed

Fisheries sector issues discussed

A meeting held here on Thursday with Commerce Minister Humayun Akhtar Khan in chair discussed in detail issues pertaining to the fisheries sector in Pakistan. Ways and means to get the ban removed on export of fish from Pakistan to European Union states w
Published 20 May, 2005 12:00am
MGE wheat up on weather concerns

MGE wheat up on weather concerns

Minneapolis Grain Exchange spring wheat futures closed higher on Wednesday amid weather concerns and light fund buying, traders said. MGE wheat closed one to two cents per bushel higher. July was up 1-3/4 at $3.30-1/4 per bushel. Traders said most of the
Published 20 May, 2005 12:00am
DISCOS empowered to shift tubewell, industrial connections

DISCOS empowered to shift tubewell, industrial connections

Water and Power Development Authority (Wapda) has allowed shifting of tubewell and industrial connections having independent transformers within the jurisdiction of same distribution company. A spokesman of Wapda said here on Thursday that CEOs of the dis
Published 20 May, 2005 12:00am
KCBT wheat higher on crop concerns

KCBT wheat higher on crop concerns

Hard red winter wheat futures at the Kansas City Board of Trade closed higher on Wednesday, supported by winter wheat crop worries, traders said. The market settled 2 to 3-1/4 cents higher, with the July at $3.20, up 3 cents. July rose as high as $3.24. "
Published 20 May, 2005 12:00am
Speedy bus kills bicycle rider

Speedy bus kills bicycle rider

A speedy bus ran over a bicycle rider near Guru Mandir on Thursday killing him on the spot. According to details, the deceased was identified as Muhammad Musa, 55, a security guard, riding his bicycle while on his way to home when a speedy bus of route 1-
Published 20 May, 2005 12:00am
Wal-Mart shuts Web DVD rentals

Wal-Mart shuts Web DVD rentals

Wal-Mart Stores Inc, the world's largest retailer, on Thursday said it was closing its online DVD rental business and would direct customers to Netflix Inc, the company that pioneered online rentals. Under the agreement, Netflix will promote Wal-Mart DVD
Published 20 May, 2005 12:00am
NCHD urged to support SMEs

NCHD urged to support SMEs

The Union of Small & Medium Enterprises (Unisame) on Thursday asked National Commission on Human Development (NCHD) for institutional support regarding Small and Medium Enterprises training programmes. Convener for training programmes Moiz Fazalbhai has r
Published 20 May, 2005 12:00am
Greenspan slams Freddie and Fannie again

Greenspan slams Freddie and Fannie again

Federal Reserve Chairman Alan Greenspan took aim on Thursday yet again at Fannie Mae and Freddie Mac while other US central bankers spoke about bank regulation. None discussed the current economy. In addition to Greenspan, Federal Reserve Board Governor S
Published 20 May, 2005 12:00am
Seven EoIs received for Badami Bagh land

Seven EoIs received for Badami Bagh land

The Privatisation Commission has received seven Expressions of Interest (EoIs) from interested parties to participate in the bidding process for purchase of land at Badami Bagh, Lahore, owned by Pakistan Engineering Company Limited (Peco), (Badami Bagh Wo
Published 20 May, 2005 12:00am
Ericsson links with ZTE on Chinese 3G standard

Ericsson links with ZTE on Chinese 3G standard

Ericsson signed a deal with China's second largest telecom equipment maker ZTE on Thursday to develop the country's high-speed mobile standard, positioning itself for 3G licence awards due later this year. The Swedish firm became the latest of major inter
Published 20 May, 2005 12:00am
Final decision on gas line by December 31: Shaukat

Final decision on gas line by December 31: Shaukat

Prime Minister Shaukat Aziz on Thursday said Pakistan would take a final decision by December 31 on the gas pipeline project. Talking informally to newsmen, he said Pakistan was weighing three options to import gas from Iran, Turkmenistan or Qatar. "Decem
Published 20 May, 2005 12:00am
Eurozone output fall puts rate cut pressure on ECB

Eurozone output fall puts rate cut pressure on ECB

Pressure mounted on the European Central Bank to consider lower rates on Thursday after data showing a second successive month of shrinking eurozone output raised fears the bloc may be heading for recession. The European statistics office Eurostat said in
Published 20 May, 2005 12:00am
Final decision on gas line by December 31: Shaukat

Final decision on gas line by December 31: Shaukat

Prime Minister Shaukat Aziz on Thursday said Pakistan would take a final decision by December 31 on the gas pipeline project. Talking informally to newsmen, he said Pakistan was weighing three options to import gas from Iran, Turkmenistan or Qatar. "Decem
Published 20 May, 2005 12:00am
Capgemini opens new centre in India

Capgemini opens new centre in India

Europe's largest computer consulting company, Capgemini, said on Thursday it had opened its fourth centre in India and would step up hiring people to serve global customers. Outsourcing to India, which offers cheap, skilled software professionals, is a gr
Published 20 May, 2005 12:00am
Final decision on gas line by December 31: Shaukat

Final decision on gas line by December 31: Shaukat

Prime Minister Shaukat Aziz on Thursday said Pakistan would take a final decision by December 31 on the gas pipeline project. Talking informally to newsmen, he said Pakistan was weighing three options to import gas from Iran, Turkmenistan or Qatar. "Decem
Published 20 May, 2005 12:00am
EU steps not enough: France

EU steps not enough: France

French President Jacques Chirac said on Thursday the European Union's executive Commission had taken important steps following a surge in China's exports of textiles but needed to do more. The Commission stepped up pressure on Beijing to restrict such exp
Published 20 May, 2005 12:00am
CBR foresees 20 percent new taxpayers

CBR foresees 20 percent new taxpayers

Chairman CBR Abdullah Yusuf has said that the CBR has estimated to register 20 percent new taxpayers in next fiscal (2005-2006). Last year, the number of income tax filers has increased from one to 1.2 million reflecting an encouraging growth, he added. A
Published 20 May, 2005 12:00am
China rules out new curbs on textile exports

China rules out new curbs on textile exports

China said Thursday it will not impose additional curbs on its textile exports, while urging the US to correct "erroneous" measures to impose more quotas on Chinese products. "The integration of the textile trade is a right we have gained since China join
Published 20 May, 2005 12:00am
CBR foresees 20 percent new taxpayers

CBR foresees 20 percent new taxpayers

Chairman CBR Abdullah Yusuf has said that the CBR has estimated to register 20 percent new taxpayers in next fiscal (2005-2006). Last year, the number of income tax filers has increased from one to 1.2 million reflecting an encouraging growth, he added. A
Published 20 May, 2005 12:00am
Orange launches mobile TV in Britain

Orange launches mobile TV in Britain

Orange, the mobile phone company controlled by France Telecom, is launching nine television channels in Britain next week to allow customers to watch news, sport and entertainment programmes on their phones. The service, which will only be available to cu
Published 20 May, 2005 12:00am
CBR foresees 20 percent new taxpayers

CBR foresees 20 percent new taxpayers

Chairman CBR Abdullah Yusuf has said that the CBR has estimated to register 20 percent new taxpayers in next fiscal (2005-2006). Last year, the number of income tax filers has increased from one to 1.2 million reflecting an encouraging growth, he added. A
Published 20 May, 2005 12:00am
Zimbabwe devalues currency

Zimbabwe devalues currency

Zimbabwe's central bank on Thursday devalued the country's currency by 31 percent in a desperate bid to raise foreign exchange for vital food imports, and cut its economic growth forecasts for 2005. Presenting his long-awaited post-election monetary polic
Published 20 May, 2005 12:00am
No consensus on NFC Award as deadline lapses

No consensus on NFC Award as deadline lapses

The provinces have failed to develop consensus on sixth National Finance Commission (NFC) award, as the deadline of the second week of May lapsed without making them feel that status quo will deprive them of additional funds from the Center at least for o
Published 20 May, 2005 12:00am
Crime raises Dutch and Oman investment risks

Crime raises Dutch and Oman investment risks

A jump in organised crime figures over the past three months has raised the risks for investors in the Netherlands and Oman, according to the latest quarterly analysis from strategic risk consultancy, MIG. Intelligence gathered by the London-based group r
Published 20 May, 2005 12:00am
No consensus on NFC Award as deadline lapses

No consensus on NFC Award as deadline lapses

The provinces have failed to develop consensus on sixth National Finance Commission (NFC) award, as the deadline of the second week of May lapsed without making them feel that status quo will deprive them of additional funds from the Center at least for o
Published 20 May, 2005 12:00am
Yushchenko blasts government over fuel crisis

Yushchenko blasts government over fuel crisis

Ukraine's President Viktor Yushchenko intensified criticism of his government on Thursday and vowed to stick to market principles while tackling a fuel crisis that led to long queues for petrol. Yushchenko, who came to power just over 100 days ago after a
Published 20 May, 2005 12:00am
No consensus on NFC Award as deadline lapses

No consensus on NFC Award as deadline lapses

The provinces have failed to develop consensus on sixth National Finance Commission (NFC) award, as the deadline of the second week of May lapsed without making them feel that status quo will deprive them of additional funds from the Center at least for o
Published 20 May, 2005 12:00am
Air France KLM profit tops forecasts

Air France KLM profit tops forecasts

Air France KLM beat forecasts for its full-year operating profit, as strong traffic levels and higher savings than expected from the Franco-Dutch group's 2004 merger helped offset high fuel prices. But the world's largest airline by revenues said its core
Published 20 May, 2005 12:00am
Air France KLM profit tops forecasts

Air France KLM profit tops forecasts

Air France KLM beat forecasts for its full-year operating profit, as strong traffic levels and higher savings than expected from the Franco-Dutch group's 2004 merger helped offset high fuel prices. But the world's largest airline by revenues said its core
Published 20 May, 2005 12:00am
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