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May 02, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-06-26
EADS ends wrangle over top management jobs

EADS ends wrangle over top management jobs

European aerospace giant EADS has ended nine months of wrangling over its management structure and named Noel Forgeard and Thomas Enders as co-presidents, the company confirmed on Saturday. The world's second largest aerospace group also said it had appoi
Published 26 Jun, 2005 12:00am
Putin reassures US team over investment

Putin reassures US team over investment

Russian President Vladimir Putin sought to reassure the US business elite on Saturday he was determined to turn Russia into a more investor- friendly country - but made no mention of the word "YUKOS". The Kremlin leader greeted top executives from US corp
Published 26 Jun, 2005 12:00am
Australian wool market recovers

Australian wool market recovers

Australian wool prices made small gains this week, supported by firm buyer interest in medium to broad wools, analysts said on Friday. The AWEX Eastern Market Indicator (EMI) rose two cents to finish the week at 707 cents a kg clean, based on a fall of tw
Published 26 Jun, 2005 12:00am
Indian gold futures rise, soya and sugar decline

Indian gold futures rise, soya and sugar decline

Indian gold and silver futures inched up on Friday with a rise in world spot prices, while soyabean and soyaoil slipped on sluggish domestic demand and weakness in Chicago soya futures. Sugar eased but market talk that the sugar quota for sale in the dome
Published 26 Jun, 2005 12:00am
Palm producer's eye shrinking Indian market

Palm producer's eye shrinking Indian market

India, the world's top importer of edible oils, enters a peak buying period over the next three months, but buyers are slowly beginning to turn to South American soyaoil instead of Asian palm oil. A surplus of palm oil at ports as well as tonnes of uncrus
Published 26 Jun, 2005 12:00am
Australian grain: late rain sets up good winter crops

Australian grain: late rain sets up good winter crops

Australia is set for a strong wheat crop, as drought-breaking rains have arrived just in time for the winter grains sowing season, traders and analysts said. The wheat crop was now likely to come in at around 23 million tonnes for the growing year to end-
Published 26 Jun, 2005 12:00am
Dubai sugar refinery plans boost capacity

Dubai sugar refinery plans boost capacity

Dubai's Al Khaleej sugar refinery, the largest in the Gulf, plans to raise white sugar refining capacity to 7,500 tonnes per day by the end of 2005 from 4,500 now, its chairman Al-Ghurair Jamal said on Friday. "The refinery is demand driven," Jamal told R
Published 26 Jun, 2005 12:00am
CBOT rice closes firm on technical bounce

CBOT rice closes firm on technical bounce

Chicago Board of Trade rough rice futures closed higher on Friday on a technical bounce, after sliding to three-month lows this week, traders said. July settled 6 cents higher at $6.81 per hundredweight, while September was up 6-1/2 cents at $7.05-1/2. Th
Published 26 Jun, 2005 12:00am
Comex copper soars

Comex copper soars

US copper futures finished with healthy gains on Friday, and traders said concerns about supplies and historically low inventory levels drove prices up, with spot copper hitting a new record high. "There's a lot of fear out there that the market's going t
Published 26 Jun, 2005 12:00am
New York sugar easier

New York sugar easier

Raw sugar futures finished softer on Friday on producer sales which blunted an advance stoked by fund buying, with the trade turning its focus to the expiry of the July contract next week, dealers said. The New York Board of Trade's July raw sugar contrac
Published 26 Jun, 2005 12:00am
New York gold lower as recent rally pauses

New York gold lower as recent rally pauses

US gold futures slipped on Friday to end below a fresh three-month high, pressured by profit taking after a recent rally, traders and analysts said. Benchmark August delivery gold fell $1.20 to close at $442 an ounce on the New York Mercantile Exchange's
Published 26 Jun, 2005 12:00am
Soyabeans post double-digit climb on weather

Soyabeans post double-digit climb on weather

The Chicago Board of Trade soyabean market exploded on Friday, rallying near 20 cents in new-crop November amid crop fears of hot, dry weather hitting the US Midwest, traders said. November soya was 18-1/2 cents higher at $7.64 per bushel, about a dime of
Published 26 Jun, 2005 12:00am
Oil price hits record 60 dollars in global market

Oil price hits record 60 dollars in global market

World oil prices jumped to a record 60 dollars per barrel this week on concerns about possible supply shortages during the fourth quarter when refineries could struggle to meet strong demand for heating fuel. Copper reached a fresh historic high point in
Published 26 Jun, 2005 12:00am
Malaysian oil palm exports fall

Malaysian oil palm exports fall

Exports of Malaysian oil palm products for June 1 to 25 stood at 1,051,324 tonnes, down 11.3 percent from the 1,184,884 tonnes for May 1 to 25, cargo surveyor Intertek Testing Services said on Saturday. Societe Generale de Surveillance, another tracker of
Published 26 Jun, 2005 12:00am
Cotton buyers prefer to remain on sidelines

Cotton buyers prefer to remain on sidelines

Dullness prevailed on the cotton market on Saturday as both mills and spinners mainly kept on the sidelines as many of them covered the near-term requirements, their dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs
Published 26 Jun, 2005 12:00am
Manila raises rice import

Manila raises rice import

The Philippines raised on Saturday its 2005 rice import requirement to 1.8 million tonnes from an earlier projection of 1.6 million as a rain shortfall in the first half led farmers to delay planting. The rice shortfall was also due to damage from four st
Published 26 Jun, 2005 12:00am
Plastic mouldings higher

Plastic mouldings higher

The trading on plastic mouldings moved upward here on Jodia Bazar on Saturday. The following changes were seen in HDPE film Saudia 952 up 50 paisa to Rs 36.25, Mobil up 25 paisa to Rs 36, LDPE 374 up Rs 5 to Rs 42, MG 20 up Rs 5 to Rs 45, and polypropylen
Published 26 Jun, 2005 12:00am
Canadian bonds up on tame inflation

Canadian bonds up on tame inflation

The Canadian bond prices gained on Friday as consumer price data suggested a lack of inflationary pressures, but pulled back as the session came to a close. "The decline in the yields in the bond markets actually started before the inflation numbers came
Published 26 Jun, 2005 12:00am
Canadian bonds up on tame inflation

Canadian bonds up on tame inflation

The Canadian bond prices gained on Friday as consumer price data suggested a lack of inflationary pressures, but pulled back as the session came to a close. "The decline in the yields in the bond markets actually started before the inflation numbers came
Published 26 Jun, 2005 12:00am
Brazilian markets recoup losses

Brazilian markets recoup losses

Brazil stocks ended higher on Friday as investors took a breather after a series of losses inspired by local political woes and high oil prices. Brazil's currency, the real, gained 0.75 percent to 2.381 per dollar after weakening during the past two days.
Published 26 Jun, 2005 12:00am
US corporate bonds spread wider as oil prices rise

US corporate bonds spread wider as oil prices rise

US corporate bond spreads widened on Friday as record high oil prices raised questions about future corporate profits and pulled equities to their lowest levels in six weeks. Crude oil futures closed at the highest level ever on the New York Mercantile Ex
Published 26 Jun, 2005 12:00am
US corporate bonds spread wider as oil prices rise

US corporate bonds spread wider as oil prices rise

US corporate bond spreads widened on Friday as record high oil prices raised questions about future corporate profits and pulled equities to their lowest levels in six weeks. Crude oil futures closed at the highest level ever on the New York Mercantile Ex
Published 26 Jun, 2005 12:00am
Toronto stocks flat as banks buoyant, metals melt

Toronto stocks flat as banks buoyant, metals melt

Toronto stocks ended flat in a quiet session on Friday as a slide in mining shares was offset by firmer financial services issues and the impact of near record crude prices on energy shares. The Toronto Stock Exchange's S&P/TSX composite index closed down
Published 26 Jun, 2005 12:00am
Argentinean stocks rally

Argentinean stocks rally

Argentine stocks rallied to close slightly higher on Friday, buoyed by last-minute buys in two leading companies at bargain prices. The MerVal index of the 11 leading stocks rebounded from a 1-percent decline early in the session to finish the day up 0.35
Published 26 Jun, 2005 12:00am
American credit market outlook

American credit market outlook

The turnaround at Goodyear Tire & Rubber Co continues, but credit investors can't get over the fact that the largest US tiremaker is partly reliant on the ailing US automakers. Goodyear's perceived credit quality weakened in the credit default swap and ju
Published 26 Jun, 2005 12:00am
American credit market outlook

American credit market outlook

The turnaround at Goodyear Tire & Rubber Co continues, but credit investors can't get over the fact that the largest US tiremaker is partly reliant on the ailing US automakers. Goodyear's perceived credit quality weakened in the credit default swap and ju
Published 26 Jun, 2005 12:00am
Mexican stocks move lower

Mexican stocks move lower

Mexican stocks ended lower on Friday, dragged down by breadmaker Bimbo and holding company Carso Telecom, while the peso gained slightly despite expectations of lower interest rates. At its twice-monthly meeting earlier on Friday, the Mexican central bank
Published 26 Jun, 2005 12:00am
IPO view: Directionless quarter gets spark

IPO view: Directionless quarter gets spark

The market for US initial public offerings is set to wrap up the second quarter with some wind in its sails after spending the past three months adrift with no clear direction or momentum. In a positive sign for the IPO market just one week before the qua
Published 26 Jun, 2005 12:00am
India's Bharat Forge acquires US firm for $9 million

India's Bharat Forge acquires US firm for $9 million

India's Bharat Forge Ltd, the world's second-biggest forging company, has acquired a US firm, Federal Forge Inc, in an all cash deal worth $9.1 million, the Bombay Stock Exchange said on Saturday. Federal Forge is engaged in the design and manufacture of
Published 26 Jun, 2005 12:00am
US Treasuries boosted as oil prices gnaw at stocks

US Treasuries boosted as oil prices gnaw at stocks

US Treasury debt prices rose on Friday, extending the week's gains after a report on orders for big-ticket items heightened fears of slower growth that could end the Federal Reserve's program of rate increases sooner rather than later. A flight-to-safety
Published 26 Jun, 2005 12:00am
US Treasuries boosted as oil prices gnaw at stocks

US Treasuries boosted as oil prices gnaw at stocks

US Treasury debt prices rose on Friday, extending the week's gains after a report on orders for big-ticket items heightened fears of slower growth that could end the Federal Reserve's program of rate increases sooner rather than later. A flight-to-safety
Published 26 Jun, 2005 12:00am
Chile stocks plunge

Chile stocks plunge

Chilean stocks fell slightly on Friday in slim volume as investors took profits following recent market highs, especially in the steel and power sectors. The peso firmed against the dollar. The IPSA blue chip index fell 0.25 percent to 2,063.51 points whi
Published 26 Jun, 2005 12:00am
Emerging debt prices rise

Emerging debt prices rise

Emerging debt prices rose slightly on Friday after weak US durable goods data sent Treasury yields down, with low volume heralding the beginning of a customary summer trading lull. "Today in general you had a little recovery in the market," said Enrique A
Published 26 Jun, 2005 12:00am
Emerging debt prices rise

Emerging debt prices rise

Emerging debt prices rose slightly on Friday after weak US durable goods data sent Treasury yields down, with low volume heralding the beginning of a customary summer trading lull. "Today in general you had a little recovery in the market," said Enrique A
Published 26 Jun, 2005 12:00am
US stocks finish lower as oil hovers near record

US stocks finish lower as oil hovers near record

US stocks fell on Friday, with oil prices ending near a record $60 a barrel raising worries about energy costs hurting corporate profits and curbing consumer spending. The Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq Compos
Published 26 Jun, 2005 12:00am
Brazilian currency up

Brazilian currency up

Brazil's currency ended higher on Friday as investors took a breather after a series of losses inspired by local political woes and high oil prices. Brazil's currency, the real, gained 0.75 percent to 2.381 per dollar after weakening during the past two d
Published 26 Jun, 2005 12:00am
Yuan not on agenda at Asia-Europe moot

Yuan not on agenda at Asia-Europe moot

A senior official from China's Ministry of Finance said the yuan is not scheduled to feature in discussions at a weekend meeting of finance ministers and outside pressure can only delay currency reform. "The yuan is not on the agenda. If it is discussed i
Published 26 Jun, 2005 12:00am
Canadian dollar little changed

Canadian dollar little changed

The Canadian dollar finished little changed against the US currency on Friday, shrugging off both inflation data and remarks by Finance Minister Ralph Goodly. The currency finished at C$1.2325to the US dollar or 81.14 US cents, down slightly from C$1.2319
Published 26 Jun, 2005 12:00am
New York dollar gives back gains in technical trading

New York dollar gives back gains in technical trading

The dollar slipped from multi-month highs against major European currencies on Friday in largely technical pre-weekend trading, dealers said. The dollar had risen earlier to 10-month highs against the Swiss franc and the euro, with the euro briefly fallin
Published 26 Jun, 2005 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Saturday. 63.71/63.74 (previous 63.70/63.75). Call Money Rates: 3.75-16.5 percent (previous 3.9-16.5 percent).
Published 26 Jun, 2005 12:00am
IMM speculators net short euro position biggest in five years

IMM speculators net short euro position biggest in five years

Speculators in IMM euro futures built up the biggest net short euro position since early 2000 during the trading week ending June 21, data released on Friday showed. Speculators increased the net short euro position to 21,282 contracts, from a net short p
Published 26 Jun, 2005 12:00am
Forex market views, key levels

Forex market views, key levels

Selection of comments from analysts on important technical developments in the foreign exchange market:
Published 26 Jun, 2005 12:00am
Indian foreign exchange reserves rise to $139.57 billion

Indian foreign exchange reserves rise to $139.57 billion

India's foreign exchange reserves rose to $139.566 billion on June 17 from $138.526 billion a week, the Reserve Bank of India said in its weekly statistical supplement on Saturday. The central bank said foreign currency assets expressed in US dollar terms
Published 26 Jun, 2005 12:00am
Turkish markets seen mixed

Turkish markets seen mixed

The lira currency and bonds are expected to remain steady on Friday, helped by strong foreign interest in Turkish assets, but the stock market may see some profit-taking, bankers said. "World oil prices have touched new highs and there are risks linked to
Published 26 Jun, 2005 12:00am
PST launches Hero Pakistani Collector's Card Scheme

PST launches Hero Pakistani Collector's Card Scheme

The Hero Pakistani Collector's Card scheme was launched by the Pakistan Sports Trust (PST), as a vehicle to promote public-private partnership and raise most needed funds for the development of sports in the country. This was stated by the PST supremo and
Published 26 Jun, 2005 12:00am
Australia take revenge on Bangladesh

Australia take revenge on Bangladesh

Andrew Symonds claimed a career-best five for 18 as Australia took their revenge by crushing Bangladesh by 10 wickets in Saturday's triangular series one-day match. The world champions, who lost to Bangladesh a week ago in one of the greatest upsets in cr
Published 26 Jun, 2005 12:00am
Federer punishes Kiefer for 'Dudek' antics

Federer punishes Kiefer for 'Dudek' antics

Double defending champion Roger Federer made Nicolas Kiefer pay for a bizarre and ill-timed impression of Liverpool's European Cup winning goalkeeper Jerzy Dudek to reach the Wimbledon last 16 on Saturday. The top seed struggled to subdue the German 25th
Published 26 Jun, 2005 12:00am
Sharapova and Davenport march on at Wimbledon

Sharapova and Davenport march on at Wimbledon

Title-holder Maria Sharapova moved into the last 16 at Wimbledon on Saturday with a 6-2, 6-4 win over Katarina Srebotnik of Slovenia. The Russian second seed broke early in both sets and was always comfortably in command as she wrapped up her 20th straigh
Published 26 Jun, 2005 12:00am
India destroys Myanmar rebel camp

India destroys Myanmar rebel camp

Indian forces have destroyed one of the largest Mynamarese rebel bases in India, deep in the mountainous jungles of the remote north-east, police said on Saturday. The roughly 200 guerrillas and supporters living in the Chin National Army camp near the bo
Published 26 Jun, 2005 12:00am
Poisonous moonshine kills 21 in Kenya

Poisonous moonshine kills 21 in Kenya

At least 21 Kenyans died after drinking an illegally prepared alcoholic drink probably containing poisonous methanol, medics and witnesses said on Saturday. The victims took the locally brewed liquor on Friday evening at a bar in the village of Makutano,
Published 26 Jun, 2005 12:00am
Bulgarian Socialists lead: exit poll

Bulgarian Socialists lead: exit poll

Bulgaria's opposition Socialists were ahead of the ruling centrists of the ex-king prime minister in Saturday's elections but may not have won enough votes to easily form a government, exit polls showed. A Gallup poll for Bulgaria's BTV television gave th
Published 26 Jun, 2005 12:00am
Malaysian court convicts author of Anwar book

Malaysian court convicts author of Anwar book

A Malaysian court on Saturday convicted a writer, who penned a book that helped to bring down former Deputy Prime Minister Anwar Ibrahim, for publishing false news. The official Bernama news agency said Khalid Jafri, who wrote "50 Reasons why Anwar cannot
Published 26 Jun, 2005 12:00am
Afghanistan registers voters

Afghanistan registers voters

Afghanistan launched a month-long voter registration period for September 18 parliamentary elections on Saturday as the United Nations called for broader security efforts to protect the vote from violence. The Afghan-UN Joint Electoral Management Body sai
Published 26 Jun, 2005 12:00am
Israeli troops quit three Palestinian schools

Israeli troops quit three Palestinian schools

Israeli soldiers on Saturday left three Palestinian schools in the West Bank town of Al Khalil that they had used for four years as posts to observe militants. The army said it left the buildings to "ease restrictions on residents" and after reassessing t
Published 26 Jun, 2005 12:00am
Two injured in bomb attack on Russian train

Two injured in bomb attack on Russian train

A bomb went off on a railway line in Russia's turbulent North Caucasus region on Saturday, injuring two crew on a maintenance engine, the Interfax news agency reported. It quoted regional security officials as saying a home-made bomb had exploded just aft
Published 26 Jun, 2005 12:00am
North's nuclear aims biggest threat: Seoul

North's nuclear aims biggest threat: Seoul

North Korea's nuclear ambitions are the biggest threat on the Korean peninsula, South Korean President Roh Moo-hyun said on Saturday, urging the North to return soon to six-party talks aimed at ending its atomic plans. His statement came after the two Kor
Published 26 Jun, 2005 12:00am
Bush acknowledges 'grim' images from Iraq

Bush acknowledges 'grim' images from Iraq

President George W. Bush on Saturday acknowledged the "grim" daily images of violence in Iraq but again insisted that US efforts to stabilise the troubled country are working. As part of a campaign to overcome growing public disquiet about the US presence
Published 26 Jun, 2005 12:00am
PPIB facts & Business Recorder

PPIB facts & Business Recorder

With no pretensions to infallibility, Business Recorder has never hesitated to publish contradiction of its reports whenever factual mistakes have been committed, but it cannot ignore the innuendoes about its motives and integrity, like the ones co
Published 26 Jun, 2005 12:00am
PPIB facts & Business Recorder

PPIB facts & Business Recorder

With no pretensions to infallibility, Business Recorder has never hesitated to publish contradiction of its reports whenever factual mistakes have been committed, but it cannot ignore the innuendoes about its motives and integrity, like the ones co
Published 26 Jun, 2005 12:00am
Equal job opportunities for women demanded

Equal job opportunities for women demanded

The Muttahida Qaumi Movement (MQM) condemning the discrimination has demanded of the government to provide equal opportunities in jobs and equal participation in business, politics, education, health and other fields for women. These demands were raised t
Published 26 Jun, 2005 12:00am
Dr Attiya calls on Shaukat

Dr Attiya calls on Shaukat

Member National Assembly Dr Attiya Inayatullah called on Prime Minister Shaukat Aziz here on Saturday and discussed with him various programmes launched by the government for the welfare and well-being of women. The Prime Minister said the government beli
Published 26 Jun, 2005 12:00am
KPT clarification

KPT clarification

The Karachi Port Trust (KPT) has clarified a news item appeared in the June 23, 2005 issue of Business Recorder regarding formation of an investigation committee to probe death of a lady teacher due to heart attack at the KPT Staff College. Accordi
Published 26 Jun, 2005 12:00am
Reference against Hashmi put off

Reference against Hashmi put off

An accountability court put off proceeding in a reference against acting president PML-N, Javed Hashmi till July 06, as his brother Nasir Shah failed to record his statement before the court. The accused has been facing the charges of corruption and makin
Published 26 Jun, 2005 12:00am
Supreme Court to hear Mukhtaran Mai case on June 27

Supreme Court to hear Mukhtaran Mai case on June 27

Nine appeals and counter-appeals and a suo motu action initiated by the outgoing Chief Justice Nazim Hussain Siddiqui in the gang-rape of southern Punjab village girl Mukhtaran Mai will be held by the First Bench of the Supreme Court on Monday. The cause
Published 26 Jun, 2005 12:00am
Date extended

Date extended

Pakistan Railway administration has extended the last date for submitting applications for the post of Assistant Programmers (BS-16) and Senior Computer Operators (BS-14) from June 18 to June 30. According to a Railway press release, the extension has bee
Published 26 Jun, 2005 12:00am
Malaysian firm interested in building Shahdara fly-over

Malaysian firm interested in building Shahdara fly-over

Malaysian Company has shown interest to construct Shahdara fly-over project on build, operate and transfer (BOT) basis, which will cost Rs 3.5 billion. The interest was shown by a five-member Malaysian delegation, led by Malaysian High Commissioner in Pak
Published 26 Jun, 2005 12:00am
International day against drug abuse today

International day against drug abuse today

The Punjab government has decided to observe the International Day Against Drug Abuse on Sunday (June 26) in a befitting manner by holding various programmes in a bid to create awareness among society against the menace of drug addiction. In a letter, the
Published 26 Jun, 2005 12:00am
Hearing of cases against Benazir and Zardari adjourned

Hearing of cases against Benazir and Zardari adjourned

Local Accountability Courts have adjourned the hearing of four corruption references against the former Prime Minister Benazir Bhutto and her spouse Asif Zardari till July 7. These include ARY-Gold, SGS Assets and BMW corruption references. Zardari's lawy
Published 26 Jun, 2005 12:00am
Al-Abbas Sugar ratings upgraded

Al-Abbas Sugar ratings upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term and short-term entity ratings of Al-Abbas Sugar Mills Limited (AASML) to "A" (Single A) and "A1" (A One) respectively. These ratings are applicable to the senior unsecured creditors of t
Published 26 Jun, 2005 12:00am
Al-Abbas Sugar ratings upgraded

Al-Abbas Sugar ratings upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term and short-term entity ratings of Al-Abbas Sugar Mills Limited (AASML) to "A" (Single A) and "A1" (A One) respectively. These ratings are applicable to the senior unsecured creditors of t
Published 26 Jun, 2005 12:00am
Airblue to launch international service in two months

Airblue to launch international service in two months

Airblue, a private sector airline, will start international operation within two months and daily domestic flights between Islamabad and all provincial headquarters in three months. This was stated by the airline's Chief Operating Officer, Shahid Khaqaan
Published 26 Jun, 2005 12:00am
CBR asks taxpayers to avail tax concessions offer

CBR asks taxpayers to avail tax concessions offer

The Central Board of Revenue (CBR) has expressed hope that the taxpayers would avail tax concessions offered by the government and pay the arrears of Sales Tax and also get their goods cleared from the warehouses by June 30 to avail the concessions.
Published 26 Jun, 2005 12:00am
'No attention paid to SMEs sector in federal budget'

'No attention paid to SMEs sector in federal budget'

"Changing World Economic scenario is demanding a special attention and promotion of Small and Medium Enterprises (SMEs) to overcome the problems of poverty, unemployment and illiteracy, but government has not paid any special attention to this sector in t
Published 26 Jun, 2005 12:00am
Ministry seeks Rs 254.8 million to rehabilitate drug-addicts

Ministry seeks Rs 254.8 million to rehabilitate drug-addicts

The Narcotics Control Ministry has demanded Rs 254.8 million from the government for treatment and rehabilitation of drug-addicts. A well-placed source told Business Recorderthat a committee formed by the Prime Minister has okayed establishment of
Published 26 Jun, 2005 12:00am
Sindh chief minister calls for supremacy of law

Sindh chief minister calls for supremacy of law

Sindh Chief Minister, Dr Arbab Ghulam Rahim has said that supremacy of law in the province was the top priority of his government and all out efforts were being made to safeguard the lives and property of law abiding people by restoring peaceful and condu
Published 26 Jun, 2005 12:00am
Lady doctor abused

Lady doctor abused

An e-mail sent to me read, "Speaking on a point of order, Senator Amanullah Kanrani, told the house how a lady doctor, Dr Raheela, was physically abused by men in brown uniform at a toll plaza. Senator Kanrani said the men were given uniforms and weapons
Published 26 Jun, 2005 12:00am
Interest rate versus inflation

Interest rate versus inflation

This refers to the front page news of Business Recorder, Islamabad, of June l2th, 2005, quoting State Bank Governor that 'interest rates will go up further.' The Governor of State Bank is stated to have said this while addressing members of the SIT
Published 26 Jun, 2005 12:00am
Female workers at petrol pumps

Female workers at petrol pumps

Many females doing various odd jobs with honour and dignity at several places including petrol pumps join me in unanimous endorsement of the views of Miss Rubina Kausar on the subject.
Published 26 Jun, 2005 12:00am
Afghanistan's war on drugs penalising the poorest farmers

Afghanistan's war on drugs penalising the poorest farmers

Farmer Mohammed Agha squats on his haunches in the dust near his wheat fields and dreams of growing opium again, so that he can do more than just scrape by. "If it continues like this, God willing we'll grow poppy again. Nothing they promised has come tru
Published 26 Jun, 2005 12:00am
Use of technology for collecting data and introducing modern systems

Use of technology for collecting data and introducing modern systems

Marketing information services presently available in the country are by no means adequate. Collection, compilation and dissemination of prices alone, as are being presently done, are only a small part of the total marketing information services and do no
Published 26 Jun, 2005 12:00am
The low tax to GDP malaise

The low tax to GDP malaise

Syed Shahid Zaidi, Council Member of the Institute of Chartered Accountants of Pakistan and session chairman at a post-budget seminar the other day expressed concern over Pakistan having the lowest tax to Gross Domestic Product (GDP) ratio in the region.
Published 26 Jun, 2005 12:00am
Need for revitalising Monopoly Control Authority

Need for revitalising Monopoly Control Authority

The government is reported to have faced great embarrassment on June 23, as the National Assembly Standing Committee on Government Assurances expressed dismay over non-submission of Monopoly Control Authority (MCA) Bill as per commitment. The committee di
Published 26 Jun, 2005 12:00am
Malaysian tourism industry woos Pakistani tourists

Malaysian tourism industry woos Pakistani tourists

Malaysia has opened its gates for the tourists to further boost its billion dollar tourist industry, and the person who has been entrusted with the responsibility to take the industry to new heights is none other than Malaysian Tourism Deputy Minister Ahm
Published 26 Jun, 2005 12:00am
Raise in EOBI pension notified

Raise in EOBI pension notified

Federal Labour, Manpower and Overseas Pakistanis Minister Ghulam Sarwar Khan, in a press statement during his visit to Karachi,, presented a comparison about the different institutions of his ministry and also overall performance as compared to 1999 Takin
Published 26 Jun, 2005 12:00am
PSEB wants strategic relationship with vendors

PSEB wants strategic relationship with vendors

Pakistan Software Export Board (PSEB) is looking for a strong and strategic relationship with the vendor industry of the country. This was stated by PSEB managing director, Dr Aamir Matin while speaking at the inaugural session of a conference on 'Linux a
Published 26 Jun, 2005 12:00am
Role of investment banks highlighted

Role of investment banks highlighted

The investment banks should focus on developing competitive advantages in the form of wider outreach and ability to mobilise national savings with greater efficiency. This strategy not only promises lucrative growth of the industry but will also add the m
Published 26 Jun, 2005 12:00am
SSGC and ENI ink agreement for enhanced gas supply

SSGC and ENI ink agreement for enhanced gas supply

Sui Southern Gas Company has inked a new 'Term Sheet of Bhit Gas Sales Agreement (GSA)' with Italy-based ENI Pakistan Limited, the operator of Bhit and Badhra Gas fields in district Dadu, for enhanced production of natural gas. In this regard, the gas uti
Published 26 Jun, 2005 12:00am
936 bottles of fake Pepsi Cola seized

936 bottles of fake Pepsi Cola seized

The food squad of the city district government Lahore, following a raid at a soda factory, seized 936 bottles of fake Pepsi Cola. The squad, which conducted raid under the supervision of District Officer Food, Chaudhry Muhammad Munir also arrested factory
Published 26 Jun, 2005 12:00am
Australia offers scholarships to improve quality of education

Australia offers scholarships to improve quality of education

Australian Agency for International Development (Aus AID) will provide a grant of 1.65 million Australian dollars to improve quality of education and increase access of girls to schools in Balochistan. Sources told Business Recorderthat the main ob
Published 26 Jun, 2005 12:00am
Habib AG Zurich installs ATM at PRL

Habib AG Zurich installs ATM at PRL

Habib Bank AG Zurich has installed an ATM at the premises of Pakistan Refinery Limited (PRL) in order to facilitate the workers and employers of Pakistan Refinery Limited for cash withdrawals. The ATM was inaugurated by Zafar Haleem, Chief Executive of Pa
Published 26 Jun, 2005 12:00am
SBP deputy governor grieved

SBP deputy governor grieved

Saiyed Anwar Husain, father of Tawfiq A. Husain, deputy governor, State Bank of Pakistan died in Karachi Saturday morning. His Namaz-e-Janaza was offered after Asr prayers at Masjid-e-Themeem, Khayaban-e-Rahat, near Clifton Cantonment Board, Phase VI, DHA
Published 26 Jun, 2005 12:00am
'Sindh striving to create investment-friendly atmosphere'

'Sindh striving to create investment-friendly atmosphere'

Sindh Chief Minister Arbab Ghulam Rahim has said that sustainable development of industrial and agriculture sectors could alone bring the country on the road of plenty and prosperity. Talking to members of a delegation of Hyderabad Chamber of Commerce and
Published 26 Jun, 2005 12:00am
Government urged to declare Sialkot 'Cottage City'

Government urged to declare Sialkot 'Cottage City'

The world has recognised Sialkot as export-oriented city of Pakistan, since this place possesses century-old industrial heritage. It has developed a remarkable export culture over the period and contributing Rs 41 billion annually to the national excheque
Published 26 Jun, 2005 12:00am
Pakistan opposes expansion of UNSC: Kasuri

Pakistan opposes expansion of UNSC: Kasuri

Foreign Minister Khurshid Kasuri has said Pakistan was strongly against the proposal to increase the number of permanent members of UN Security Council (UNSC) and stressed the agenda of UN reforms should not be hijacked. "We oppose the expansion of UNSC a
Published 26 Jun, 2005 12:00am
Senate Chairman briefs investors about lucrative prospects in Pakistan

Senate Chairman briefs investors about lucrative prospects in Pakistan

Senate Chairman Mohammedmian Soomro has called upon the investors, including Pakistani-Americans, to invest more in Pakistan, as lucrative prospects exist in various fields including dairy sector and tourism. He said this in his concluding remarks at the
Published 26 Jun, 2005 12:00am
Bahrain Prime Minister due on June 27

Bahrain Prime Minister due on June 27

Bahrain Prime Minister Shaikh Khalifa bin Salman Al-Khalifa is scheduled to visit Pakistan from June 27 to 29 at the invitation of Prime Minister Shaukat Aziz.
Published 26 Jun, 2005 12:00am
IIB SVP sent to 14-day judicial remand

IIB SVP sent to 14-day judicial remand

Judge Accountability Court, Meftahuddin Khan on Saturday sent Senior Vice President, Islamic Investment Bank (IIB), Vakeel Ahmed Siddique to jail on 14 days judicial remand charged for misusing powers and malpractice in ex-MNA Nasimur Rehman's Saleem Suga
Published 26 Jun, 2005 12:00am
Massive power breakdown hits Thatta

Massive power breakdown hits Thatta

A massive power breakdown for about 18 hours paralysed the life in Thatta, Makli and surrounding areas from Friday evening till Saturday morning. Hot weather mosquito menace and lack of water supply for the twin cities added to miseries of people who pass
Published 26 Jun, 2005 12:00am
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