News Archives for Print - 2005-07-20

Malaysia's trade minister in tears, denies cronyism

Malaysia's trade minister denied on Tuesday her ministry handed out lucrative import licences to corporate cronies, bursting into tears and swearing on the Koran she had no reason to resign.

Published 20 Jul, 2005 12:00am

Convention signed with Switzerland for avoidance of double taxation

Pakistan and Switzerland on Tuesday signed a Convention for Avoidance of Double Taxation to promote trade and business activities between the two countries. Central Board of Revenue (CBR) Chairman M. Abdullah Yusuf signed the convention on behalf of the G

Published 20 Jul, 2005 12:00am

Hewlett-Packard to slash 14,500 jobs

US information technology giant Hewlett-Packard announced a major reorganisation Tuesday that would slash its workforce by 10 percent, or 14,500 employees, by the end of next year. The move comes on the heels of a similar move by technology rival IBM, whi

Published 20 Jul, 2005 12:00am

Badla finance reduction creates havoc on KSE

Reduction in badla financing, the core problem hurting the sentiment of the market, further created havoc and Karachi Stock Exchange index, for the second consecutive session, suffered a decline of 1.6 percent on Tuesday. The KSE-100 index fell 117.78 poi

Published 20 Jul, 2005 12:00am

IBM expects job cuts to total 14,500

US computer giant IBM's job reductions under a major reorganisation announced this year are expected to total 14,500, a company official said Tuesday. The world's biggest computer and high-tech firm had previously said it was cutting 13,000 positions.

Published 20 Jul, 2005 12:00am

Badla finance reduction creates havoc on KSE

Reduction in badla financing, the core problem hurting the sentiment of the market, further created havoc and Karachi Stock Exchange index, for the second consecutive session, suffered a decline of 1.6 percent on Tuesday. The KSE-100 index fell 117.78 poi

Published 20 Jul, 2005 12:00am

Royal Dutch/Shell landmark merger nears completion

A landmark merger of Royal Dutch/Shell's two holding companies was imminent after the green light was given by London's High Court, the energy giant said on Tuesday. "Shell Transport is pleased to announce that, at a hearing held today, the High Court san

Published 20 Jul, 2005 12:00am

Badla finance reduction creates havoc on KSE

Reduction in badla financing, the core problem hurting the sentiment of the market, further created havoc and Karachi Stock Exchange index, for the second consecutive session, suffered a decline of 1.6 percent on Tuesday. The KSE-100 index fell 117.78 poi

Published 20 Jul, 2005 12:00am

US June housing starts flat, chain store sales up

US housing starts were flat in June as a drop in groundbreaking on single-family homes was offset by higher multi-family housing construction, a Commerce Department report showed on Tuesday. A separate report showed retail sales at US chain stores rose in

Published 20 Jul, 2005 12:00am

Seven categories covered under Customs amnesty scheme

Seven categories of cases have been covered under the amnesty scheme for availing exemption from fine and penalty on payment of principal amount of custom duty by the business community up to July 31, 2005.

Published 20 Jul, 2005 12:00am

German ZEW confidence index surges to 10-month high

German investor confidence surged to a 10-month high in July as robust global growth and a weaker euro offset surging oil prices, a survey by the ZEW institute showed on Tuesday. Analysts said the surprisingly strong report reduced the chances of a rate c

Published 20 Jul, 2005 12:00am

Seven categories covered under Customs amnesty scheme

Seven categories of cases have been covered under the amnesty scheme for availing exemption from fine and penalty on payment of principal amount of custom duty by the business community up to July 31, 2005.

Published 20 Jul, 2005 12:00am

UK's Brown has more room to meet budget rules

The prospect of British tax hikes next year receded somewhat on Tuesday after finance minister Gordon Brown said the current economic cycle started two years earlier than previously thought, giving him extra leeway to meet his fiscal rules.

Published 20 Jul, 2005 12:00am

Seven categories covered under Customs amnesty scheme

Seven categories of cases have been covered under the amnesty scheme for availing exemption from fine and penalty on payment of principal amount of custom duty by the business community up to July 31, 2005.

Published 20 Jul, 2005 12:00am

China's second-quarter economic growth to show signs of slowdown

China's economy is expected to show a moderate slowdown in the first half of the year, suggesting that macroeconomic controls have finally put the brakes on the torrid growth of the last three years, analysts say.

Published 20 Jul, 2005 12:00am

Seven categories covered under Customs amnesty scheme

Seven categories of cases have been covered under the amnesty scheme for availing exemption from fine and penalty on payment of principal amount of custom duty by the business community up to July 31, 2005.

Published 20 Jul, 2005 12:00am

Russia seeks record $7 billion loan to fund Gazprom deal

A group of major investment banks has entered informal talks to lend a record $7 billion to finance Russia's purchase of an additional stake in Gazprom, the world's largest gas company, banking sources said on Tuesday. Negotiating final terms of the loan,

Published 20 Jul, 2005 12:00am

KPF modalities discussed with donors

Adviser to the Prime Minister on Finance Dr Salman Shah and Minister of State for Finance Omar Ayub discuss modalities and structure of Khushhal Pakistan Fund (KPF), being created under the Khushhal Pakistan Programme, with the representatives of multilat

Published 20 Jul, 2005 12:00am

Iran and Iraq look to heal old wounds with oil deal

Old foes Iran and Iraq on Tuesday signed an oil deal they hope will pave the way to further diplomatic rapprochement between them. The signing was the keystone of a visit to Iran by an Iraqi ministerial delegation led by Prime Minister Ibrahim al-Jaafari,

Published 20 Jul, 2005 12:00am

KPF modalities discussed with donors

Adviser to the Prime Minister on Finance Dr Salman Shah and Minister of State for Finance Omar Ayub discuss modalities and structure of Khushhal Pakistan Fund (KPF), being created under the Khushhal Pakistan Programme, with the representatives of multilat

Published 20 Jul, 2005 12:00am

SABMiller to buy Colombia's Bavaria

SABMiller Plc is to buy South America's No 2 brewer Bavaria SA for $4.8 billion to tap fast-growing beer markets and take on regional leader InBev. SABMiller said on Tuesday the stock and cash deal, which boosted its shares over 10 percent to a new high,

Published 20 Jul, 2005 12:00am

KPF modalities discussed with donors

Adviser to the Prime Minister on Finance Dr Salman Shah and Minister of State for Finance Omar Ayub discuss modalities and structure of Khushhal Pakistan Fund (KPF), being created under the Khushhal Pakistan Programme, with the representatives of multilat

Published 20 Jul, 2005 12:00am

SABMiller to buy Colombia's Bavaria

SABMiller Plc is to buy South America's No 2 brewer Bavaria SA for $4.8 billion to tap fast-growing beer markets and take on regional leader InBev. SABMiller said on Tuesday the stock and cash deal, which boosted its shares over 10 percent to a new high,

Published 20 Jul, 2005 12:00am

Nepra revises tariffs of two IPPs

The National Electric Power Regulatory Authority (Nepra) has revised levelised tariff for 225 MW Orient Power Company Limited (OPCL) and 130 MW Star Power Limited to 4.55 cent and 4.65 per unit, respectively, an official told Business Recorder.

Published 20 Jul, 2005 12:00am

Bangladesh economy to grow at six percent: IMF

Bangladesh's economy is expected to grow six percent next fiscal year despite the abolition of quotas for textile exports that was predicted to cause massive job losses, the International Monetary Fund said in a report posted Tuesday. The economy grew 5.5

Published 20 Jul, 2005 12:00am

Nepra revises tariffs of two IPPs

The National Electric Power Regulatory Authority (Nepra) has revised levelised tariff for 225 MW Orient Power Company Limited (OPCL) and 130 MW Star Power Limited to 4.55 cent and 4.65 per unit, respectively, an official told Business Recorder.

Published 20 Jul, 2005 12:00am

Malaysia may allow more foreign-held Islamic banks

Malaysia may issue more Islamic bank licences to foreigners, central bank chief Zeti Akhtar Aziz said on Tuesday. "We are not ruling out that option. But for the current environment it will remain at three," Zeti said when asked if the central bank would

Published 20 Jul, 2005 12:00am

Nepra revises tariffs of two IPPs

The National Electric Power Regulatory Authority (Nepra) has revised levelised tariff for 225 MW Orient Power Company Limited (OPCL) and 130 MW Star Power Limited to 4.55 cent and 4.65 per unit, respectively, an official told Business Recorder.

Published 20 Jul, 2005 12:00am

Singapore shares soar at five-year highs

Singapore share prices closed up 1.99 percent at a five-and-a-half-year high on Tuesday after the government said it would ease home mortgage rules to help the residential property market, dealers said. They said the news gave a sharp boost to property an

Published 20 Jul, 2005 12:00am

DHL receives Silver ABME Award

DHL, the world's leading express and logistics company, has received the Silver ABME Award in the "Best Marketing Campaign for Regional Brand Development" category at the 2005 Asian Brand Marketing Effectiveness (ABME) Awards, in recognition of its "No On

Published 20 Jul, 2005 12:00am

Hong Kong stocks flat as property rally ebbs

Hong Kong stocks were largely unchanged on Tuesday as investors paused for breath after a surge in property stocks and as they eyed some key US earnings reports. Shares in large cap property firms such as Sun Hung Kai Properties Ltd sagged after recent he

Published 20 Jul, 2005 12:00am

KICT welcomes RAS service

Cosco's 'M V Yang Jiang He' made an inaugural call at Karachi International Container Terminal (KICT) on July 18 to commence a new shipping service "Round Arabian Sea (RAS)" service. This new RAS service is jointly operated by China Ocean Shipping (Group)

Published 20 Jul, 2005 12:00am

US stocks slip on Citigroup earnings miss, IBM up

US stocks fell on Monday, ending a seven-day rally, after Citigroup Inc, said its second-quarter profit missed analysts' forecasts, but a rise in quarterly operating income at International Business Machines Corp may renew investors' enthusiasm for equiti

Published 20 Jul, 2005 12:00am

'SAB expresses strong reservation over pace of watercourses lining'

Sindh Abadgar Board (SAB) expressed strong reservation over the pace of watercourses lining in the province in a memorandum presented to Prime Minister during his visit on Sunday last.

Published 20 Jul, 2005 12:00am

Jakarta shares higher on technical rebound

Indonesian share prices closed 0.32 percent higher Tuesday on a technical rebound led by market heavyweights Bank Mandiri and Telkom, dealers said. The Jakarta Stock Exchange composite index closed up 3.577 points at 1,132.017 on volume of 1.74 billion sh

Published 20 Jul, 2005 12:00am

Weldo offers financing for German fair

In the first of its kind of venture in Pakistan, Women Empowerment Literacy and Development Organisation (Weldo) will finance the airfare, accommodation, visa processing and business meetings of five Pakistani food sector related companies to the famous A

Published 20 Jul, 2005 12:00am

US Treasuries recoil as Greenspan seen upbeat

US Treasuries stumbled lower on Monday as negative technicals were exacerbated by expectations of optimistic testimony to Congress this week from Federal Reserve Chairman Alan Greenspan. Benchmark yields hit two-month highs even as inklings of an upbeat F

Published 20 Jul, 2005 12:00am

NWFP governor takes notice of line losses

NWFP Governor Khalil-ur-Rehman on Tuesday took serious notice of the line losses of Pesco and Tesco and frequent load shedding in FATA, particularly in Khyber Agency. He said that a joint meeting of stakeholders should be arranged within a fortnight to fi

Published 20 Jul, 2005 12:00am

US Treasuries recoil as Greenspan seen upbeat

US Treasuries stumbled lower on Monday as negative technicals were exacerbated by expectations of optimistic testimony to Congress this week from Federal Reserve Chairman Alan Greenspan. Benchmark yields hit two-month highs even as inklings of an upbeat F

Published 20 Jul, 2005 12:00am

Counter for medical visa at Indian High Commission opens

A special counter to handle applications for medical treatment visa has been opened by the Indian High Commission here from Monday. The Consular Section of the Indian High Commission has said that each patient would be allowed to take two attendants, such

Published 20 Jul, 2005 12:00am

Malaysian shares higher

Malaysian share prices closed 0.19 percent higher Tuesday, with investors largely staying on the sidelines, dealers said. They said a lack of positive leads and hesitation with the key index creeping towards resistance at the 920-point level kept investor

Published 20 Jul, 2005 12:00am

Purchase of costly vehicles for E&T department banned

Advisor to Sindh Chief Minister for Excise & Taxation (E&T), M.A Jalil has embargoed the purchase of costly and luxurious vehicles for the department for which the funds were already earmarked in the budget 2005-06.

Published 20 Jul, 2005 12:00am

Taiwan stocks test 14-month high

Taiwan stocks barely rose on Tuesday, defying back-pedalling by US stocks, as investors shifted their focus to small-cap tech shares such as Wintek while taking profit in bellwether electronics. The TAIEX share index ended up 5.75 points, or 0.09 percent,

Published 20 Jul, 2005 12:00am

Government admits inability to bring back Pakistani children from Gulf states

The government on Tuesday admitted its inability in bringing back Pakistani children being used as camel jockeys and stranded in the Gulf states, but played down their number by putting the figure at only 1,000 as against 7,000 reported a few days ago.

Published 20 Jul, 2005 12:00am

Chinese shares up

China's shares edged up 0.2 percent on Tuesday, led by large caps, but traders said the gains would prove unsustainable due to lingering concerns over Beijing's state share reform plan. The Shanghai composite index closed at 1,014.355 points, after settin

Published 20 Jul, 2005 12:00am

Rice phones Musharraf

US Secretary of State Condoleezza Rice telephoned President General Pervez Musharraf on Tuesday to discuss ongoing efforts to combat Islamic militancy and extremism, said Information Minister Sheikh Rashid late in the evening.

Published 20 Jul, 2005 12:00am

Seoul shares hit highest close in over a decade

Seoul stocks rose 1.2 percent on Tuesday to their best finish in over a decade, as lower oil prices lifted auto makers, while department store operators brushed record highs on hopes for a pickup in consumer demand.

Published 20 Jul, 2005 12:00am

Rice phones Musharraf

US Secretary of State Condoleezza Rice telephoned President General Pervez Musharraf on Tuesday to discuss ongoing efforts to combat Islamic militancy and extremism, said Information Minister Sheikh Rashid late in the evening.

Published 20 Jul, 2005 12:00am

Nikkei inches to 14-week closing high, Canon rises

Japan's Nikkei average rose 0.05 percent on Tuesday to its highest finish since April 8, with optimism over company earnings propping up blue chips such as Canon Inc but Toyota Motor Corp retreated after a brokerage downgrade, while caution over how Wall

Published 20 Jul, 2005 12:00am

APHC leaders enter talks with displaced Pandits

A faction of Hurriyat Conference, led by Mirwaiz Umer Farooq and Kashmiri Pandits on Tuesday held landmark maiden meeting as an exercise to initiate latter's return to Kashmir valley.

Published 20 Jul, 2005 12:00am

Philippines shares close lower

Philippines share prices closed 1.03 percent lower Tuesday on profit-taking took after a three-day run-up amid continued political concerns, dealers said.

Published 20 Jul, 2005 12:00am

APHC leaders enter talks with displaced Pandits

A faction of Hurriyat Conference, led by Mirwaiz Umer Farooq and Kashmiri Pandits on Tuesday held landmark maiden meeting as an exercise to initiate latter's return to Kashmir valley.

Published 20 Jul, 2005 12:00am

Hong Kong dollar eases in late trade

The Hong Kong dollar weakened slightly late on Tuesday after China's central bank said that any reform of the mainland's exchange rate would be based on the country's own needs. The comments from the People's Bank of China (PBOC) reiterated Beijing's stan

Published 20 Jul, 2005 12:00am

Chinese yuan unchanged

The yuan on Tuesday ended unchanged at 8.2765 per US dollar, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan inched higher to 4,800 points, implying a rate of 7.798 yuan per dollar i

Published 20 Jul, 2005 12:00am

Indian rupee ends steady

The rupee ended steady on Tuesday, side-stepping a rally in the dollar against other majors, with the currency drawing support from robust foreign capital inflows into the booming Indian stock market. The inflows also helped limit concerns caused by a wid

Published 20 Jul, 2005 12:00am

Dollar near 14-month high versus yen ahead of Greenspan

The dollar marched higher on Tuesday, closing in on a 14-month high versus the yen on expectations Federal Reserve chief Alan Greenspan would paint a bright picture of the US economy. Greenspan's semi-annual testimony to Congress on Wednesday is expected

Published 20 Jul, 2005 12:00am

Dollar down broadly, capital flows data eyed

The dollar slipped across the board on Monday as a capital inflows report showed selling of US stocks by foreigners in May, suggesting uneven interest in dollar-denominated assets. In late New York trading, the euro was up 0.2 percent against the dollar a

Published 20 Jul, 2005 12:00am

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 64.02/64.50 (previous 63.96/64.42). Call Money Rates: 4.0-15.50 percent (previous 4.0-16.50 percent).

Published 20 Jul, 2005 12:00am

Swiss franc weakens

The Swiss franc eased against the dollar in early European trade on Tuesday as traders looked ahead to a testimony from the US Federal Reserve chief Alan Greenspan for hints about the timetable for monetary tightening. In his semi-annual testimony to Cong

Published 20 Jul, 2005 12:00am

Won falls 0.7 percent to lead declines in Asian currencies

The South Korean won fell more than half a percent to lead declines in Asian currencies on Tuesday after a central bank official warned that the won's recent rapid gain against the Japanese yen was undesirable. The dollar's surge to a 14-month high agains

Published 20 Jul, 2005 12:00am

Chelsea hopeful of snaring Essien

Chelsea still hope to sign Lyon midfielder Michael Essien despite being told by the French champions they must pay 32 million pounds (46 million euros). The Blues wrapped up the signing of Shaun Wright-Phillips from Manchester City on Monday for a 21 mill

Published 20 Jul, 2005 12:00am

Afro-Asian Cup cricket from August 17

An inaugural cricket competition between Asia and Africa will be held next month in South Africa, officials announced on Tuesday. The matches have been accorded official status by the International Cricket Council (ICC), according to Afro-Asian Cricket Co

Published 20 Jul, 2005 12:00am

Williams sisters to play doubles in TV reality show

US tennis icons Venus and Serena Williams are set to give the public a sneak peek into their private world as they become the latest celebrities to star in their own reality television show.

Published 20 Jul, 2005 12:00am

Moodie advances

Wimbledon doubles winner Wesley Moodie reached the second round of the 600,000 Indianapolis ATP event, then revealed his sudden Grand Slam windfall has re-launched his tennis career.

Published 20 Jul, 2005 12:00am

Peschke unable to stop losing skid

Russia's Tatiana Panova beat Kveta Peschke 6-4, 7-6 (8/6) on Monday in the opening round of the 170,000 dollar WTA tournament, handing the eighth seeded Czech her fourth-consecutive loss. The 40th-ranked player in the world, Peschke dropped both of her Fe

Published 20 Jul, 2005 12:00am

McGrath promises to cut Pietersen down

Glenn McGrath insists Kevin Pietersen will find Test cricket a whole new ball game in more ways than one when he makes his debut in the five-day arena for England against Australia in Thursday's Ashes series opener at Lord's.

Published 20 Jul, 2005 12:00am

Pereiro wins 16th stage

Spaniard Oscar Pereiro of the Phonak team won the 16th stage of the Tour de France here Tuesday held over 180.5km between Mourenx and Pau. American Lance Armstrong retained the yellow jersey after the final day of climbing in the high mountains despite co

Published 20 Jul, 2005 12:00am

Green jersey battle set to resume

Australians Stuart O'Grady and Robbie McEwen are among the riders who are more than happy the 's killer climbing stages are well and truly behind them. However while the fight for the race's yellow jersey is all but settled, with Lance Armstrong on the ve

Published 20 Jul, 2005 12:00am

Canadian Hartley captures 1m springboard world title

Blythe Hartley grabbed some gold for host nation Canada on Monday, winning the women's 1m springboard diving title at the 11th World Swimming Championships. China's Wu Min Xia took the silver, ahead of Germany's Heike Fischer.

Published 20 Jul, 2005 12:00am

US firm to send Internet diaries into space

Is there anybody out there? And if there is, what will alien lifeforms make of bloggers signed up to a new service to beam their online rantings into outer space? "We are giving bloggers the opportunity to send a piece of their lives into space to potenti

Published 20 Jul, 2005 12:00am

US Vietnam-era military chief Westmoreland dies

General William Westmoreland, who commanded US military operations in the Vietnam War, died on Monday night at a retirement home in Charleston, South Carolina, said Linda Maines, night supervisor at the facility. Westmoreland, who lived at the Bishop Gads

Published 20 Jul, 2005 12:00am

Spanish forest fire doused

Fire-fighters on Tuesday brought under control a massive fire in central Spain that killed 11 volunteer firemen and destroyed vast tracts of pine forest, officials said. Investigators meanwhile focused their probe on five youths from Madrid accused of spa

Published 20 Jul, 2005 12:00am

Australia returns stolen artefacts to Egypt

Ancient artefacts smuggled out of Egypt as part of a major antiquities scam were returned to Egyptian authorities on Tuesday after being discovered for sale on an Australian Internet auction site. The seven funeral objects, dated to about 664 BC, included

Published 20 Jul, 2005 12:00am

Germany and France must remain Europe's engine: Merkel

The Franco-German alliance must remain the engine that drives Europe, German opposition leader Angela Merkel told French leaders on Tuesday, despite her vow to reshape the two countries' relationship if she comes to power.

Published 20 Jul, 2005 12:00am

Former FBI agent sentenced as China spy case closes

A former FBI agent who failed to tell his superiors about an affair with an informant later arrested as a double agent for China was sentenced on Monday to three months' home confinement.

Published 20 Jul, 2005 12:00am

Bosnian Croat pleads guilty to war crimes

A former Bosnian Croat soldier changed his plea on Tuesday to guilty on charges including murder, rape and torture of Muslims during the 1993 Muslim-Croat war in central Bosnia. "I'm guilty and I'm honestly sorry," Miroslav Bralo, also known as Cicko, tol

Published 20 Jul, 2005 12:00am

Japan court refuses to compensate Chinese germ warfare victims

A court Tuesday rejected damages for Chinese victims of Japan's notorious World War II germ warfare unit, standing firm on Tokyo's refusal to compensate individuals amid a bilateral row over wartime memories.

Published 20 Jul, 2005 12:00am

Fresh Bangladesh floods kill 10, thousands stranded

More than a half million people were marooned in Bangladesh in a new wave of floods caused by monsoon rains over the past week, relief officials said on Tuesday. The rivers Teesta, Jamuna and the mighty Brahmaputra, which flows from India, were in spate d

Published 20 Jul, 2005 12:00am

EU urges clampdown on bomb-making materials

The EU will present proposals to step-up the control of explosives and fertilisers, which can be used in bomb-making on Tuesday in an effort to boost the 25-nation bloc's fight against terrorism. EU Justice and Security Commissioner Franco Frattini will p

Published 20 Jul, 2005 12:00am

Chechnya attack kills 15

Around 15 people were killed and another 20 injured on Tuesday when an armoured police carrier was blown up by rebels in Russia's Chechnya, officials said. Itar-Tass news agency quoted local Prime Minister Sergei Abramov as saying the dead included 11 pol

Published 20 Jul, 2005 12:00am

Kenya bus crash kills 22

Twenty two people died and several more were injured on Tuesday when a bus travelling to the Kenyan coast collided with a truck, police said. The accident occurred before dawn at Maungu, west of Mombasa on Kenya's east coast. Police were investigating the

Published 20 Jul, 2005 12:00am

June report led Britain to lower terror alert: New York Times

Britain's top intelligence and law enforcement officials concluded less than a month before the London bombings that there was no group with current intent and the capability to attack the UK, the New York Times reported on Tuesday, citing a confid

Published 20 Jul, 2005 12:00am

India not to spread nuclear technology: Manmohan

India upholds nuclear non-proliferation rules and will never spread sensitive technology, its prime minister said on Tuesday, a day after the United States promised to help the South Asian power develop its civilian atomic sector.

Published 20 Jul, 2005 12:00am

Iraq and neighbours agree on security pact

Interior ministers from Iraq and its neighbours said Tuesday they would hammer out a regional security co-operation deal and pledged to step up border controls to prevent the flow of insurgents to and from the war-torn country.

Published 20 Jul, 2005 12:00am

Bangladeshi actress attacked with acid

A Bangladeshi actress suffered burns when unidentified attackers threw acid at her as she left a shopping centre in the capital Dhaka, police said Tuesday.

Published 20 Jul, 2005 12:00am

Three Sunnis on Iraq constitution panel killed

Gunmen shot dead three Sunni Arab members of the team drafting Iraq's new constitution on Tuesday, striking a blow against the body seen as the best hope for providing a political end to the insurgency.

Published 20 Jul, 2005 12:00am

North Korean nuclear talks to start on July 26: China

A fourth round of six-party talks on North Korea's nuclear disarmament will begin in Beijing on July 26, China said Tuesday, although analysts are sceptical significant progress will be made. Foreign ministry spokesman Kong Quan made the announcement via

Published 20 Jul, 2005 12:00am

Hezbollah joins Lebanon cabinet for first time

Hezbollah, regarded as a terrorist group by Washington, joined the Lebanese cabinet for the first time Tuesday as prime minister delegate Fuad Siniora finally unveiled a new government after weeks of wrangling.

Published 20 Jul, 2005 12:00am

Romanian premier reverses decision to resign

Romanian Prime Minister Calin Tariceanu on Tuesday said he had changed his mind about resigning and would work to prepare the country to join the European Union and to rebuild areas devastated by floods last week.

Published 20 Jul, 2005 12:00am

India's Supreme Court bans loud noises at night

Millions of Indians may sleep easier after the Supreme Court banned loud music, firecrackers and the honking of vehicle horns at night. The court ban issued Monday and posted Tuesday prevents horns from being sounded between 10 pm and 6 am and also bans f

Published 20 Jul, 2005 12:00am

Israel police on red alert to block Gaza pullout march

Police made a series of arrests Tuesday in a stand-off with tens of thousands of ultra-nationalist opponents of Israel's pullout from the Gaza Strip who are blocked from marching on the territory. They sealed off all access to the car-park where protest o

Published 20 Jul, 2005 12:00am

Blair and Muslims discuss tackling militants

British Muslim leaders and Prime Minister Tony Blair discussed ways to tackle radical Islamists on Tuesday after the London bombings, but face a tough task to win round disaffected young Muslims. Senior imams, Muslim politicians and representatives of the

Published 20 Jul, 2005 12:00am

Sterling falls against dollar

Sterling fell against a broadly firmer dollar for a fifth day running on Tuesday after expectations grew of further interest rate rises in the United States and an imminent British rate cut. British housing prices fell in the three months to June although

Published 20 Jul, 2005 12:00am

Currency	Rate
USD PKR Interbank Selling / May 10	278.14
USD PKR Interbank Buying / May 10	277.97
USD to Japanese Yen / May 10	155.78
USD to Swiss Franc / May 10	0.91
Pound Sterling to USD / May 10	1.25
Euro to USD / May 10	1.08

Stock	Volume
S&P 500 / May 10	5222.68
India Sensex / May 10	72664.47
Tokyo Nikkei / May 10	38229.11
Nasdaq / May 10	16340.87
Hang Seng / May 10	18963.68
FTSE 100 / May 10	8433.76
Dow Jones / May 10	39512.84
Germany DAX 30 / May 10	18772.85

Item	Value
Crude Oil USD/Barrel / May 10	78.26
Gold Spot USD/Ounce / May 10	2360.50
Cotton US¢/pound / May 10	77.31
Karachi Cotton PKR/37.32 KG / May 11	19935
Gold 10 Grams PKR / May 11	208762
Petrol/Litre / May 12	288.49

Stock	Price
786 Invest Ltd / May 12 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 12 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 12 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 12 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 12 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 12 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 12 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 12 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 12 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 12 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 12 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 12 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 12 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 12 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 12 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 12 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 12 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 12 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 12 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 12 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 12 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 12 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 12 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 12 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 12 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 12 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 12 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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