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Print - 2005-07-24
53 items pending with Senate

53 items pending with Senate

Though the Senate's 22nd session has been called off without assigning any reason on Friday, as many as 53 items are pending with the Upper House of the Parliament since 2003. Moreover, the election of the deputy chairman is yet to be held. The coveted se
Published 24 Jul, 2005 12:00am
Trouble brews over homes at ancient Jerusalem site

Trouble brews over homes at ancient Jerusalem site

A new row is rumbling in Jerusalem over the fate of dozens of Arab houses on land that may have been the gardens of biblical King David's capital and next to where Christians believe Jesus performed miracles. On one side are Palestinian residents of Busta
Published 24 Jul, 2005 12:00am
Flood affectees

Flood affectees

As many as hundred persons have been affected by the recent heavy rain and floods in the Gilgit city and adjacent areas. Many people have become homeless and are living in the open, which obviously is dangerous and rehabilitation is needed as soon as poss
Published 24 Jul, 2005 12:00am
Pakistan and Telecom

Pakistan and Telecom

Pakistani market carries immense potential for the growth of the telecommunication sector, within a short span of time there is great deal of expansion and improvement in the domains of the technologies of sending signals, images and messages overlong dis
Published 24 Jul, 2005 12:00am
Presumptive tax facility withdrawn

Presumptive tax facility withdrawn

Apropos the news item appearing in the Press regarding the unilateral decision of the government to rescind the declaration made by the manufacturers of goods for opting to the Presumptive Tax Regime (PTR) on July 6, 2005, through Circular 01/2005 dated J
Published 24 Jul, 2005 12:00am
Curbing smuggling of child jockeys

Curbing smuggling of child jockeys

The government on Tuesday admitted its failure to bring back home the children used as camel jockeys stranded in the Gulf States, while also playing down their numbers, figuring at only 1,000 as against 7,000 reported a few days ago. At a Senate Standing
Published 24 Jul, 2005 12:00am
Saarc Health Ministers moot

Saarc Health Ministers moot

Addressing a press conference on conclusion of the Saarc Health Ministers Conference, in Islamabad, on July 16, Pakistan Health Minister Nasir Khan elaborated on the joint communiqué it issued. As he pointed out, among other things, it called for allocati
Published 24 Jul, 2005 12:00am
Pakistani and Chinese jailed for murder

Pakistani and Chinese jailed for murder

A Pakistani student and his Chinese flatmate were jailed for life by a Cyprus court on Friday after being found guilty of the brutal murder of a Cypriot building contractor. Pakistani student Zeeshan Asghar Muhammad, 22, and Yu Hong Bo, 29, were found gui
Published 24 Jul, 2005 12:00am
'Tsunami Early Warning System to be strengthened'

'Tsunami Early Warning System to be strengthened'

Tsunami Early Warning System (TEWS) will be strengthened by upgrading phase-I of its basic component seismological network of Pakistan Met Department (PMD) with a total cost of Rs 193 million aimed at avoiding any calamity at the coastal areas of the coun
Published 24 Jul, 2005 12:00am
G-4 and African Union fail to resolve differences over UNSC expansion

G-4 and African Union fail to resolve differences over UNSC expansion

The Group of four countries - India, Brazil Germany and Japan - and the African Union (AU) failed during Friday's working-level meeting to resolve differences over their competing resolutions on expanding the United Nations Security Council (UNSC), diplom
Published 24 Jul, 2005 12:00am
Status quo rejected, stress laid on inter and intra-Kashmir dialogue

Status quo rejected, stress laid on inter and intra-Kashmir dialogue

The Fifth International Kashmir Peace Conference concluded here Friday last at the Capitol Hill after a number of renowned speakers from various continents deliberated for a two-day (July 14-15) conference on different aspects of Kashmir issue, including
Published 24 Jul, 2005 12:00am
Pakistan doesn't need to please external powers: Maleeha

Pakistan doesn't need to please external powers: Maleeha

Pakistan's envoy Dr Maleeha Lodhi said a distinction should be made between a renewed campaign that was underway to crackdown extremism and the investigation being conducted into where the two suicide bombers involved in London blasts went during their tr
Published 24 Jul, 2005 12:00am
'Sukkur barrage passing through litmus test after repair'

'Sukkur barrage passing through litmus test after repair'

Sukkur Barrage after repair and rehabilitation is passing through a litmus test vis-à-vis the flow of 500,000 cusecs flood water. Quality of work on the project is its distinguished feature, which speaks the amount of commitment and national spirit among
Published 24 Jul, 2005 12:00am
'Festival of Muslim cultures to harmonise East-West civilisations'

'Festival of Muslim cultures to harmonise East-West civilisations'

Pakistan's High Commissioner to UK Dr Maleeha Lodhi was confident the planned Festival of Muslim Cultures in London would help the East and West to understand each other which was necessary to promote understanding between the two civilisations.
Published 24 Jul, 2005 12:00am
Sikandar urges West not to link terrorism with Islam

Sikandar urges West not to link terrorism with Islam

Azad Jammu and Kashmir Prime Minister Sardar Sikandar Hayat, condemning London bomb explosions, has urged Britain, America and Europe to avoid linking terrorism with Islam because terrorists have no religion. He was speaking at a meeting of party workers
Published 24 Jul, 2005 12:00am
Exporters welcome new Trade Policy

Exporters welcome new Trade Policy

Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Muhammad Latif has welcomed the new Trade Policy and urged its implementation to achieve the export targets. Talking to newsmen here on Friday, he said "Faisalabad alone has
Published 24 Jul, 2005 12:00am
Tech Business Incubator being set up at PCSIR complex

Tech Business Incubator being set up at PCSIR complex

Technology Business Incubator (TBI) is being established at the Pakistan Council of Scientific and Industrial Research (PCSIR) Complex here to provide technical expertise and professional assistance to the local industry to develop international standards
Published 24 Jul, 2005 12:00am
IIU rector for awareness about WTO rules

IIU rector for awareness about WTO rules

International Islamic University (IIU) Rector Justice Khalil-ur-Rehman Ramday has said that awareness about WTO is direly needed, and only sectors with sufficient command over WTO rules and regulations will excel. He was speaking at a one-day training pro
Published 24 Jul, 2005 12:00am
MMA views military interventions real problem

MMA views military interventions real problem

The Muttahida Majlis-i-Amal on Saturday said the real problem of the country is not sectarianism and extremism but regular military intervention and violation of the Constitution. Speaking at a news conference here at Jamaat-i-Islami camp offices, MMA dep
Published 24 Jul, 2005 12:00am
PTV projecting real culture, values and traditions: Prime Minister

PTV projecting real culture, values and traditions: Prime Minister

Prime Minister Shaukat Aziz on Saturday said that Pakistan Television has been projecting true image of the country and promoting real values and traditions. Addressing a function here at PTV Headquarters, he announced that the government would launch fou
Published 24 Jul, 2005 12:00am
Punjab University symposium

Punjab University symposium

The Punjab University Department of Mycology & Plant Pathology (MPPL) is organising an international symposium on 'Biofertiliser & Biocontrol Technology' from 25 to 27 July.
Published 24 Jul, 2005 12:00am
HBL seminar on fruit processing units on July 30

HBL seminar on fruit processing units on July 30

Habib Bank Limited is organising a seminar on "Scope of establishing fruit processing units" here on July 30. Prominent speakers would share views on various topics such as production of fruits, post-harvesting, cold supply chain, internal marketing and f
Published 24 Jul, 2005 12:00am
PITAC engineers preparing drawings of ginning machines

PITAC engineers preparing drawings of ginning machines

Pakistan Industrial Technical Assistance Center (PITAC) engineers are preparing drawings of ginning machines modified in the light of report prepared by a foreign consultant, whose services, were acquired by the Small and Medium Enterprise Development Aut
Published 24 Jul, 2005 12:00am
Plea of Wattoo's co-accused rejected

Plea of Wattoo's co-accused rejected

An accountability court on Saturday rejected the prayer of two co-accused of former Chief Minister Punjab Mian Manzoor Ahmed Wattoo, not to disqualify them, as the reference against them was filed under Ehtesab Ordinance instead of National Accountability
Published 24 Jul, 2005 12:00am
Over 69 percent wheat purchase target achieved

Over 69 percent wheat purchase target achieved

The Provincial Food Department has achieved 69.66 per cent of wheat procurement target for the current year. Sources in the Food Department told APP the department had been assigned wheat procurement target of 3.5 million tons.
Published 24 Jul, 2005 12:00am
Value chain analysis of garments industry soon: minister

Value chain analysis of garments industry soon: minister

Federal Minister for Industries, Production and Special Initiatives Jehangir Khan Tareen has said a complete value chain analysis of Pakistan's garments industry would be carried out to make garments products internationally competitive. He stated this wh
Published 24 Jul, 2005 12:00am
Expert for local production of latest dies and moulds

Expert for local production of latest dies and moulds

Local production of latest dies and moulds can help accelerate the process of technology up-gradation in Pakistan's industrial sector, said technology expert of Japan External Trade Organisation (Jetro) Minoru Ohira.
Published 24 Jul, 2005 12:00am
LB candidates collect nomination papers from returning officers

LB candidates collect nomination papers from returning officers

Hundreds of candidates aspiring to contest forthcoming local bodies elections collected nomination papers from returning officers (ROs) here on Saturday. The election commission of Pakistan (ECP) has nominated 32 ROs for receiving nomination papers from c
Published 24 Jul, 2005 12:00am
PML-N workers asked to start preparations for polls

PML-N workers asked to start preparations for polls

PML-N Acting President Makhdoom Javed Hashmi has said that new general elections would be held in 2006 minus General Pervez Musharraf, hence the PML-N workers should prepare themselves for it. He expressed these views while talking to PML-N General Secret
Published 24 Jul, 2005 12:00am
Two kidnappers killed in encounter

Two kidnappers killed in encounter

Two kidnappers were killed in an encounter with the police on Khurrianwala Industrial Zone, here on Friday night while two fled away in darkness. Police also recovered two employees of Sitara Energy, who were kidnapped for ransom.
Published 24 Jul, 2005 12:00am
LHC benches for the week

LHC benches for the week

As many as nine division benches and 20 single benches will work at principal seat of the Lahore High Court (LHC) during the week commencing from Monday (July 25).
Published 24 Jul, 2005 12:00am
SCB to launch Islamic banking branch from July 27

SCB to launch Islamic banking branch from July 27

Standard Chartered Bank would launch its Islamic Banking branch here on July 27. According to a bank's spokesman, Islamic banking experts and Shariah scholars Dr Abdul Sattar Abu Ghuddah from Saudi Arabia and Sheikh Nizam Yaqubi would be the chief guests
Published 24 Jul, 2005 12:00am
Political activists join PPPP

Political activists join PPPP

Pakistan Peoples Party Parliamentarian (PPPP) though strong in District Kasur traditionally but losing its strength later on particularly in area of Pattoki Tehsil, gained much strength when a number of politicians holding posts in political set-up of PML
Published 24 Jul, 2005 12:00am
Musharraf to lay foundation stone of Bab-e-Pakistan project

Musharraf to lay foundation stone of Bab-e-Pakistan project

Punjab Chief Minister, Chaudhry Pervaiz Elahi, has said Bab-e-Pakistan project would be reflective of national identity, Islamic history and Pakistan Movement and President General Pervez Musharraf would lay the foundation stone of the project next month.
Published 24 Jul, 2005 12:00am
Software contest, fair opens in Islamabad

Software contest, fair opens in Islamabad

The 15th All-Pakistan Software Competition and Exhibition opened here on Saturday with the aim to encouraging local software development and increase exports. Major General Raza Hussain (Retd), chairman Suparco, was the chief guest in the opening ceremony
Published 24 Jul, 2005 12:00am
Control room set up for local bodies' polls

Control room set up for local bodies' polls

A central control room has been established in the office of Provincial Police Officer in connection with the forthcoming local bodies elections-2005. The central control room with telephone numbers 9213081 and 9213836 (Fax)) is connected with all the pol
Published 24 Jul, 2005 12:00am
School buildings occupied by Rangers to be vacated soon: Ibad

School buildings occupied by Rangers to be vacated soon: Ibad

Sindh Governor Dr Ishratul Ibad has said that all the government buildings, including educational institutions occupied by the Pakistan Rangers would be vacated after providing them alternative accommodation. He was speaking at the 8th Passing-out Ceremon
Published 24 Jul, 2005 12:00am
'CBR for boosting export by reducing duty on raw materials'

'CBR for boosting export by reducing duty on raw materials'

The Central Board of Revenue has adopted the policy of increasing exports by reducing duty on raw material. Lesser duties mean less manufacturing cost and greater chances of exports. These observations were made by CBR member (Customs) Muhammad Ramzan Bha
Published 24 Jul, 2005 12:00am
APTMA committee hails Trade Policy 2005-06

APTMA committee hails Trade Policy 2005-06

Engineer Akber Sheikh, Chairman APTMA Committee on Market Access and LCCI committee on WTO has welcomed the Trade Policy 2005-06. In a press statement issued here on Saturday, Akber said that the Commerce Minister is bringing a structural change in the Tr
Published 24 Jul, 2005 12:00am
Call for increased Pak-Malaysia trade cooperation

Call for increased Pak-Malaysia trade cooperation

There is great potential for increased co-operation between Pakistan and Malaysia, and Pakistan can benefit from the rich Malaysian experience in housing, tourism, health, infrastructure development, tourism and oil and gas sectors.
Published 24 Jul, 2005 12:00am
'Rice exports value surge by 47.09 percent over last year'

'Rice exports value surge by 47.09 percent over last year'

Country's rice exports narrowly missed $1 billion mark in 2004-2005 as the total export value was estimated at a record $933.223 million during July-2004 to June-2005. According to the provisional data released by the Federal Bureau of Statistics, rice ex
Published 24 Jul, 2005 12:00am
Workshop on SMEs to resolve policy issues

Workshop on SMEs to resolve policy issues

A national workshop will discuss and resolve policy issues regarding small and medium enterprises (SMEs) on August 3 at Islamabad. Minister for Industries, Production and Special Initiatives Jehangir Tareen will chair the workshop.
Published 24 Jul, 2005 12:00am
Smeda Legal Services Cell opened in Peshawar

Smeda Legal Services Cell opened in Peshawar

Federal Minister for Information and Broadcasting, Sh Rashid Ahmad, inaugurated 'Smeda Legal Services Cell' here at Sarhad Chamber of Commerce & Industry (SCCI) on Friday night.
Published 24 Jul, 2005 12:00am
Reduced power tariff demanded for plastics industry

Reduced power tariff demanded for plastics industry

Plastic goods manufacturers have urged the government to reduce power tariff to save this sector, otherwise this industry would bleed to death, as it would face stiff competition from importers of plastic goods. Talking with Business Recorder, Maje
Published 24 Jul, 2005 12:00am
Trade Policy termed investment, textile-oriented

Trade Policy termed investment, textile-oriented

The 2005-06 trade policy has been termed "textile and investment-oriented," by the Pakistan Cloth Merchants Association (PCMA), saying that the export target is achievable. PCMA Central Chairman Jawed Chinoy, in his comments, welcomed the policy, announce
Published 24 Jul, 2005 12:00am
Soomro and Wasim grieved over Justice Jan's death

Soomro and Wasim grieved over Justice Jan's death

Senate Chairman Mohammedmian Soomro has expressed his deep grief and sorrow over the sad demise of renowned jurist and former Judge of the Supreme Court of Pakistan, Justice Saad Saood Jan, who died in Lahore the other day.
Published 24 Jul, 2005 12:00am
Pak-Japan economic forum meeting held

Pak-Japan economic forum meeting held

A two-day Pak-Japan economic policy dialogue was held in Tokyo from July 21. Pakistan' side comprised adviser to the finance ministry, Dr Ashfaque Hasan Khan, secretary Economic Affairs Division (EAD) Khalid Saeed and Pakistan's ambassador to Japan Kamran
Published 24 Jul, 2005 12:00am
Northern Areas again in grip of sectarian violence

Northern Areas again in grip of sectarian violence

Northern Areas are once again in the grip of sectarian violence after attack on a passenger bus last week. The new wave of violence, coupled with the unprecedented floods and water flow, has made lives miserable in the area.
Published 24 Jul, 2005 12:00am
Ibad inaugurates 'Koocha-e-Saqafat' today

Ibad inaugurates 'Koocha-e-Saqafat' today

Sindh Governor Dr Ishratul Ibad Khan will formally inaugurate "Koocha-e-Saqafat" at M.R. Kiyani Road here on Sunday. A few days back, the governor had paid a two-hour long visit to Koocha-e-Saqafat where he met with artists, poets, musicians
Published 24 Jul, 2005 12:00am
'Hassanabdal-Mansehra carriageway to raise trade, tourism'

'Hassanabdal-Mansehra carriageway to raise trade, tourism'

The speedy completion of Hassanabdal, Mansehra dual carriageway would increase trade tourism and human resources activities in the area and would bring an easy access to the northern parts of the country. Federal Minister for Petroleum and Natural Resourc
Published 24 Jul, 2005 12:00am
'E-government plan to expedite provincial offices working'

'E-government plan to expedite provincial offices working'

The e-government plan in Sindh will help implement the projects expeditiously and minimise the menace of corruption. These views were expressed by Sindh Governor Ishratul Ibad Khan while inaugurating the networking project at Sindh Secretariat Building No
Published 24 Jul, 2005 12:00am
Globalisation process not generating employment: ILO official

Globalisation process not generating employment: ILO official

The present globalisation process does not hold any promising aspect for employment situation as the employment only rose by 22.8 percent against 55 percent global output and 24 percent increase in labour force between 1991 and 2004.
Published 24 Jul, 2005 12:00am
Abad demands revival of frozen plots allotted in 1985-97

Abad demands revival of frozen plots allotted in 1985-97

The Association of Builders and Developers (Abad) Chairman Babar Mirza Chughtai has said that a major impediment in the way of revival of construction industry is those 50 frozen plots, which were allotted during the period from 1985 to 1997.
Published 24 Jul, 2005 12:00am
LB polls: 1500 objections filed on nomination papers

LB polls: 1500 objections filed on nomination papers

As many as 1500 objections were filed by the voters with the Returning Officers on the nomination papers of the candidates for forthcoming Local Government elections. According to Secretary Election Commission Kanwar Muhammad Dilshad, 939 objections were
Published 24 Jul, 2005 12:00am
CPNE body meeting on July 26

CPNE body meeting on July 26

The standing committee of Council of Pakistan Newspaper Editors (CPNE) will meet in Karachi at 3:00 p m on Tuesday (July 26) to discuss the latest situation on press freedom in the country.
Published 24 Jul, 2005 12:00am
Musharraf meets Lahore editors on July 25

Musharraf meets Lahore editors on July 25

President General Pervez Musharraf will meet editors, senior journalists and columnists here on Monday (July 25). According to sources, President Musharraf would address on national, regional and international issues on this occasion.
Published 24 Jul, 2005 12:00am
Freight forwarders welcome industry status

Freight forwarders welcome industry status

The Pakistan International Freight Forwarders Council (PIFFC) has thanked the government for declaring the freight forwarding and logistics business as the industry. In a telegraphic massage to Commerce Minister Humayun Akhtar, the PIFFC Chairman, Nazir A
Published 24 Jul, 2005 12:00am
Dadu PPPP election board meets

Dadu PPPP election board meets

The Dadu district Pakistan Peoples Party Parliamentarians Election Board met here on Saturday under the chairmanship of MNA Rafiq Ahmed Jamali. The meeting was also attended by MPA Murad Ali Shah, former MPA Pir Ghulam Shah Jilani, Qazi Shafiq Mahesar, Ha
Published 24 Jul, 2005 12:00am
Minister assures support to LEW resettlement project

Minister assures support to LEW resettlement project

Federal Minister for Communication Shamim Siddiqi, on Saturday assured of all possible assistance of Federal Government to Lyari Expressway Resettlement project to ensure better life and environment for the shiftees and to provide facilities for making th
Published 24 Jul, 2005 12:00am
Islamabad fully capable to handle pipeline security

Islamabad fully capable to handle pipeline security

Pakistan on Saturday said it could effectively handle the security of proposed gas pipeline from Iran to India via its territory. Talking to Iran''s news agency IRNA here, Federal Minister for Petroleum & Natural Resources Amanullah Jadoon made it clear I
Published 24 Jul, 2005 12:00am
Islamabad fully capable to handle pipeline security

Islamabad fully capable to handle pipeline security

Pakistan on Saturday said it could effectively handle the security of proposed gas pipeline from Iran to India via its territory. Talking to Iran's news agency IRNA here, Federal Minister for Petroleum & Natural Resources Amanullah Jadoon made it clear Is
Published 24 Jul, 2005 12:00am
Islamabad fully capable to handle pipeline security

Islamabad fully capable to handle pipeline security

Pakistan on Saturday said it could effectively handle the security of proposed gas pipeline from Iran to India via its territory. Talking to Iran's news agency IRNA here, Federal Minister for Petroleum & Natural Resources Amanullah Jadoon made it clear Is
Published 24 Jul, 2005 12:00am
India to fix dates for talks with Kashmiri leaders soon

India to fix dates for talks with Kashmiri leaders soon

New Delhi will soon set dates for fresh talks with Kashmiri leaders in occupied Kashmir on the disputed region's future, Indian Junior Home Minister Sriprakash Jaiswal said on Saturday. "We'll soon fix dates for talks with the Hurriyat Conference," Jaiswa
Published 24 Jul, 2005 12:00am
India to fix dates for talks with Kashmiri leaders soon

India to fix dates for talks with Kashmiri leaders soon

New Delhi will soon set dates for fresh talks with Kashmiri leaders in occupied Kashmir on the disputed region's future, Indian Junior Home Minister Sriprakash Jaiswal said on Saturday. "We'll soon fix dates for talks with the Hurriyat Conference," Jaiswa
Published 24 Jul, 2005 12:00am
Imam may testify in US terrorism trial

Imam may testify in US terrorism trial

An Imam who has agreed to be deported from the United States may be able to clear a California father and son with suspected links to al Qaeda, a lawyer for one of the men said on Friday. Sacramento, California, Attorney Wazhma Mojaddidi said Muhammad Adi
Published 24 Jul, 2005 12:00am
Liberal import policy must to boost exports: minister

Liberal import policy must to boost exports: minister

All the successful and emerging economies of the world have enhanced their exports by liberalising import policies, said Commerce Minister Humayun Akhtar Khan on Saturday. "No country can enhance exports without liberalising its import policy," he told PT
Published 24 Jul, 2005 12:00am
Pakistan to get benefits from revaluation of yuan exports to China

Pakistan to get benefits from revaluation of yuan exports to China

The revaluation of the Chinese yuan would benefit Pakistan's exports to China, which shows growth in the recent years, said economic experts in Beijing. However, Pakistan-China bilateral trade that has jumped to over dollars three billion last year, will
Published 24 Jul, 2005 12:00am
Supreme Court stays landowners ejection by CDA till July 29

Supreme Court stays landowners ejection by CDA till July 29

The Supreme Court here on Saturday stayed the forced ejection of landowners, by Enforcement Directorate of Capital Development Authority (CDA), from Sector E-12. The division bench comprising Justice Mohammad Nawaz Abbasi and Justice M Javed Buttar barred
Published 24 Jul, 2005 12:00am
Indus at Guddu in high floods

Indus at Guddu in high floods

River Indus at Guddu was in high flood with a discharge of 5,48,147 cusecs, whereas it was flowing in medium flood stage at Taunsa and Sukkur locations at 1800 hours PST on Saturday.
Published 24 Jul, 2005 12:00am
Indus at Guddu in high floods

Indus at Guddu in high floods

River Indus at Guddu was in high flood with a discharge of 5,48,147 cusecs, whereas it was flowing in medium flood stage at Taunsa and Sukkur locations at 1800 hours PST on Saturday.
Published 24 Jul, 2005 12:00am
CED relief to Fata units on edible oil undisturbed

CED relief to Fata units on edible oil undisturbed

The exemption of central excise duty (CED) given to ghee/cooking oil units of Federally Administrated Tribal Area (Fata) and Provincially Administrated Tribal Area (Pata) through ''''special exemption order-2004'''' will remain unaffected from applicabili
Published 24 Jul, 2005 12:00am
CED relief to Fata units on edible oil undisturbed

CED relief to Fata units on edible oil undisturbed

The exemption of central excise duty (CED) given to ghee/cooking oil units of Federally Administrated Tribal Area (Fata) and Provincially Administrated Tribal Area (Pata) through ''special exemption order-2004'' will remain unaffected from applicability o
Published 24 Jul, 2005 12:00am
CED relief to Fata units on edible oil undisturbed

CED relief to Fata units on edible oil undisturbed

The exemption of central excise duty (CED) given to ghee/cooking oil units of Federally Administrated Tribal Area (Fata) and Provincially Administrated Tribal Area (Pata) through 'special exemption order-2004' will remain unaffected from applicability of
Published 24 Jul, 2005 12:00am
CED relief to Fata units on edible oil undisturbed

CED relief to Fata units on edible oil undisturbed

The exemption of central excise duty (CED) given to ghee/cooking oil units of Federally Administrated Tribal Area (Fata) and Provincially Administrated Tribal Area (Pata) through 'special exemption order-2004' will remain unaffected from applicability of
Published 24 Jul, 2005 12:00am
Schlumberger quarterly profit jumps 36 percent

Schlumberger quarterly profit jumps 36 percent

Schlumberger Ltd, the world's largest oilfield services group, on Friday posted a 36 percent jump in second-quarter earnings, lifted by strong world-wide demand from oil and gas producers. Schlumberger also said it had bought an additional 25 percent equi
Published 24 Jul, 2005 12:00am
Schlumberger quarterly profit jumps 36 percent

Schlumberger quarterly profit jumps 36 percent

Schlumberger Ltd, the world's largest oilfield services group, on Friday posted a 36 percent jump in second-quarter earnings, lifted by strong world-wide demand from oil and gas producers. Schlumberger also said it had bought an additional 25 percent equi
Published 24 Jul, 2005 12:00am
JP Morgan quarterly profit reverses year-ago loss

JP Morgan quarterly profit reverses year-ago loss

J.P. Morgan Chase & Co on Wednesday reported a second-quarter profit, reversing a year-ago loss that included a big legal charge. Trading revenue fell 50 percent, a more dramatic decline than what other brokers have reported in a difficult trading environ
Published 24 Jul, 2005 12:00am
JP Morgan quarterly profit reverses year-ago loss

JP Morgan quarterly profit reverses year-ago loss

J.P. Morgan Chase & Co on Wednesday reported a second-quarter profit, reversing a year-ago loss that included a big legal charge. Trading revenue fell 50 percent, a more dramatic decline than what other brokers have reported in a difficult trading environ
Published 24 Jul, 2005 12:00am
BPI and Ricucci votes frozen at Antonveneta

BPI and Ricucci votes frozen at Antonveneta

Banca Popolare Italiana and financier Stefano Ricucci will not be able to vote at a key shareholders meeting at Banca Antonveneta on Monday after regulator Consob found they had a secret pact at the bank. The ruling, announced late on Friday, is another b
Published 24 Jul, 2005 12:00am
Wipro first quarter profit lags forecasts

Wipro first quarter profit lags forecasts

Wipro Ltd, India's third-largest exporter of software, reported a 31 percent jump in quarterly profit on Friday, but it fell short of forecasts as a strong rupee, sales expenses, and US visa costs hurt margins. A restructuring of its back-office business,
Published 24 Jul, 2005 12:00am
Wipro first quarter profit lags forecasts

Wipro first quarter profit lags forecasts

Wipro Ltd, India's third-largest exporter of software, reported a 31 percent jump in quarterly profit on Friday, but it fell short of forecasts as a strong rupee, sales expenses, and US visa costs hurt margins. A restructuring of its back-office business,
Published 24 Jul, 2005 12:00am
India's Strides and Matrix call off merger

India's Strides and Matrix call off merger

Indian mid-sized drug makers Matrix Laboratories Ltd and Strides Arcolab Ltd said on Saturday they had called off a merger as they disagreed on valuation but were maintaining business ties. The $850-million merger plan announced on June 1 would have made
Published 24 Jul, 2005 12:00am
India's Strides and Matrix call off merger

India's Strides and Matrix call off merger

Indian mid-sized drug makers Matrix Laboratories Ltd and Strides Arcolab Ltd said on Saturday they had called off a merger as they disagreed on valuation but were maintaining business ties. The $850-million merger plan announced on June 1 would have made
Published 24 Jul, 2005 12:00am
Spitzer to announce Sony BMG settlement

Spitzer to announce Sony BMG settlement

New York Attorney General Eliot Spitzer, who is probing how music companies influence what songs are played on radio, will announce a settlement with Sony BMG Music Entertainment on Monday, The Wall Street Journal reported.
Published 24 Jul, 2005 12:00am
Nuclear deterrence to be maintained: Musharraf

Nuclear deterrence to be maintained: Musharraf

President Pervez Musharraf said on Saturday that Pakistan "is fully alive" to the developments taking place in the region and would take all necessary safeguards to ensure that its deterrence capability is maintained. He said this while presiding over a r
Published 24 Jul, 2005 12:00am
Nuclear deterrence to be maintained: Musharraf

Nuclear deterrence to be maintained: Musharraf

President Pervez Musharraf said on Saturday that Pakistan "is fully alive" to the developments taking place in the region and would take all necessary safeguards to ensure that its deterrence capability is maintained. He said this while presiding over a r
Published 24 Jul, 2005 12:00am
State Bank guidelines for infrastructure financing

State Bank guidelines for infrastructure financing

The State Bank of Pakistan, after consultations with various stockholders, has formulated guidelines for banks and development finance institutions (DFIs) for infrastructure financing (IPF). According to a circular issued by SBP on Saturday, July 23, 2005
Published 24 Jul, 2005 12:00am
State Bank guidelines for infrastructure financing

State Bank guidelines for infrastructure financing

The State Bank of Pakistan, after consultations with various stockholders, has formulated guidelines for banks and development finance institutions (DFIs) for infrastructure financing (IPF). According to a circular issued by SBP on Saturday, July 23, 2005
Published 24 Jul, 2005 12:00am
State Bank guidelines for infrastructure financing

State Bank guidelines for infrastructure financing

The State Bank of Pakistan, after consultations with various stockholders, has formulated guidelines for banks and development finance institutions (DFIs) for infrastructure financing (IPF). According to a circular issued by SBP on Saturday, July 23, 2005
Published 24 Jul, 2005 12:00am
PPL files appeal against collector''s decision

PPL files appeal against collector''s decision

Pakistan Petroleum Limited (PPL) has challenged the decision of the Collector (Adjudication) Hyderabad, declaring company''s move of adjustment/setting off the amount of Rs 28.708 million owed to it by the department against the payment of central excise
Published 24 Jul, 2005 12:00am
PPL files appeal against collector's decision

PPL files appeal against collector's decision

Pakistan Petroleum Limited (PPL) has challenged the decision of the Collector (Adjudication) Hyderabad, declaring company's move of adjustment/setting off the amount of Rs 28.708 million owed to it by the department against the payment of central excise d
Published 24 Jul, 2005 12:00am
PPL files appeal against collector's decision

PPL files appeal against collector's decision

Pakistan Petroleum Limited (PPL) has challenged the decision of the Collector (Adjudication) Hyderabad, declaring company's move of adjustment/setting off the amount of Rs 28.708 million owed to it by the department against the payment of central excise d
Published 24 Jul, 2005 12:00am
100 percent waiver on taxes clearance by July 31

100 percent waiver on taxes clearance by July 31

The Central Board of Revenue (CBR) has given 100 percent waiver of fine/additional tax, penal surcharge and penalties on payment of outstanding customs duty and sales tax and clearance of warehoused goods by July 31, 2005. An announcement made by the CBR
Published 24 Jul, 2005 12:00am
100 percent waiver on taxes clearance by July 31

100 percent waiver on taxes clearance by July 31

The Central Board of Revenue (CBR) has given 100 percent waiver of fine/additional tax, penal surcharge and penalties on payment of outstanding customs duty and sales tax and clearance of warehoused goods by July 31, 2005. An announcement made by the CBR
Published 24 Jul, 2005 12:00am
100 percent waiver on taxes clearance by July 31

100 percent waiver on taxes clearance by July 31

The Central Board of Revenue (CBR) has given 100 percent waiver of fine/additional tax, penal surcharge and penalties on payment of outstanding customs duty and sales tax and clearance of warehoused goods by July 31, 2005. An announcement made by the CBR
Published 24 Jul, 2005 12:00am
88 killed in Egyptian blasts

88 killed in Egyptian blasts

Bombs ripped through shopping and hotel areas in the Red Sea resort of Sharm-el-Sheikh on Saturday morning killing at least 88 people and wounding 200 in Egypt's worst attack since 1981. Shaken tourists spoke of mass panic and hysteria as people fled the
Published 24 Jul, 2005 12:00am
88 killed in Egyptian blasts

88 killed in Egyptian blasts

Bombs ripped through shopping and hotel areas in the Red Sea resort of Sharm-el-Sheikh on Saturday morning killing at least 88 people and wounding 200 in Egypt's worst attack since 1981. Shaken tourists spoke of mass panic and hysteria as people fled the
Published 24 Jul, 2005 12:00am
India terms gas pipeline a risky

India terms gas pipeline a risky

India''s oil minister said on Saturday a proposed gas pipeline from Iran across Pakistan was a risky venture that would be difficult to finance, but added talks on the 7 billion dollars project should continue. "The pipeline proposal is, as the Prime Mini
Published 24 Jul, 2005 12:00am
India terms gas pipeline a risky

India terms gas pipeline a risky

India's oil minister said on Saturday a proposed gas pipeline from Iran across Pakistan was a risky venture that would be difficult to finance, but added talks on the 7 billion dollars project should continue. "The pipeline proposal is, as the Prime Minis
Published 24 Jul, 2005 12:00am
India terms gas pipeline a risky

India terms gas pipeline a risky

India's oil minister said on Saturday a proposed gas pipeline from Iran across Pakistan was a risky venture that would be difficult to finance, but added talks on the 7 billion dollars project should continue. "The pipeline proposal is, as the Prime Minis
Published 24 Jul, 2005 12:00am
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