The Bank of Punjab (BOP) was constituted pursuant to the Bank of Punjab Act, 1989 and was given the status of a scheduled bank by the State Bank of Pakistan on September 19, 1994. BOP is principally engaged in commercial banking and related services throu

Pakistan's economic profile for the year 2004-05

Cholera has killed 58 people in Guinea-Bissau since the middle of June and infected more than 4,000 others, with the disease spreading through islands off its Atlantic coast, a health ministry official said on Sunday.

Nepal's Maoist rebels, waging a deadly battle to overthrow the nation's Hindu monarchy, freed seven civil servants on Sunday whom they had abducted a day earlier, an official said. Bijay Nath Poudel, an administrator in the tea-growing district of Ilam, s

A charity founded by Mother Teresa said on Sunday disabled children at one of its homes in India were restrained for their own safety, after a British television reporter filmed children tied to their beds. Britain's Five News, in a programme to be broadc

Burundi's last remaining rebel group has killed 300 civilians in the past two months, a radio station said, a blow to otherwise good progress in the plan to end the central African nation's 12-year civil war. The Burundian army says the Hutu rebel group,

Top Senate Democrats on Sunday derided President George W. Bush's embattled nominee for UN ambassador, John Bolton, as "damaged goods" and warned that his expected appointment without Senate confirmation cast doubt on US credibility.

Tempers flared on Sunday at six-party talks on the North Korean nuclear crisis, with negotiators clashing as they strove to draw up a joint statement of principles that has eluded them for nearly three years. No one believed the document would contain gro

Floods caused by heavy rain killed 16 people in northeastern Iran on Sunday, the official IRNA news agency said. It quoted a local governor as saying the people were killed in the village of Galidagh in Golestan province which borders Turkmenistan on the

Indian negotiators and leaders of a powerful separatist group in the northeastern state of Nagaland have agreed to extend for six months a cease-fire aimed at ending nearly six decades of violence, a rebel leader said Sunday. The extension of the deadline

British intelligence intercepted coded Nazi messages beginning in 1941 that could have revealed the extent of Germany's plans to exterminate Jews, according to a US government report cited Sunday by The New York Times.

Afghan security forces have seized thousands of missiles, mortar rounds and artillery shells in their biggest weapons haul in months, the defence ministry said on Sunday. The suspected Taleban ammunition cache was found Saturday in the Khogyani district o

Japan's ruling Liberal Democratic Party could lose snap elections that are widely expected if the government's controversial postal reform bills don't go through parliament this week, a senior party leader said on Sunday.

Two aid workers were wounded Sunday in an attack on their vehicle in southern Afghanistan where US military operations were also underway, local officials and the US military said. "Today at around 2:00 in the afternoon in Sangin district, a man riding a

The United States has agreed to hand over to Yemen seven Yemenis detained at the US Guantanamo Bay base, the Arab state's foreign minister said on Sunday. Abubakr al-Qirbi told Reuters that Yemeni authorities received official notification about the hando

German Chancellor Gerhard Schroeder is at loggerheads with Angela Merkel, his challenger in an early general election, over how many televised debates the two should hold before the vote due on September 18.

Zimbabwe will not invite back white farmers whose land was seized by President Robert Mugabe's government despite calls by the central bank chief to allow them to help the struggling agriculture sector, state media reported.

The Swiss National Bank views economic developments in Switzerland for the rest of 2005 with "a certain optimism" and expects a pickup in growth, SNB board member Philipp Hildebrand said on Sunday.

Small Asian oil firms may make more use of structured finance in future, paying for acquisitions with debt secured directly against valuable oil and gas reserves to help them compete with bigger players.

Malaysia raised the price of petrol by 6.6 percent and diesel by 18.5 percent from Sunday after it said it was committed to cutting fuel subsidies to free up funds for development projects. The price of a liter of petrol would rise by 10 sen (2.6 US cents

Iraq may have the world's second largest oil reserves, but top government officials here are looking into creating a coupon program to ration fuel for next winter. Rationing aims to put a dent into the black market sale of oil products "and lead to more e

As unprecedented oil revenue floods Russian state coffers, the government is planning a generous 2006 state dget packed with new expenditures while putting badly-needed structural reform on a back burner despite favourable economic conditions.

Business activity in Hong Kong grew in July at its slowest rate since March but companies appear to have gained some pricing power, the latest purchasing managers' index shows.

Eurozone economic indicators to be published in the coming week will show an upturn in manufacturing as the sector takes heart from the lower euro, economists said. The eurozone purchasing managers' index for the manufacturing sector in July is forecast t

International Monetary Fund managing director Rodrigo Rato is coming under fire from critics who think he is not up to the job he has held for the past 13 months. Unlucky or inept? That is the question many are asking.

The quest for better balance in uneven world growth rates and a correction of yawning international trade gaps may take years, if China's cautious move to revalue its currency is any indication. But economists reckon we may all be better off for this cali

Japanese and Thai trade officials failed to reach a bilateral free trade agreement by a July 31 deadline but said negotiations were "99 percent complete" and talks would continue, Kyodo news reported on Sunday.

As the World Trade Organisation struggles to break down more global trade barriers with a key summit just five months away, the global body faces a major test of its credibility. Trading nations will gather in Hong Kong in December for a conference which

American Venus Williams saved five match points against Patty Schnyder on Saturday to reach the final of the 585,000 dollar WTA Bank of the West Classic with a 2-6, 7-6 (7/4), 6-2 victory. "I was a step slow sometimes when she was serving . I had no room

England named an unchanged squad on Sunday for the second Ashes Test against Australia starting at Edgbaston on Thursday. The squad was the same as that which lost the first Test at Lord's last week by 239 runs to give Australia a 1-0 lead in the five-mat

Pakistan's cricket coach Bob Woolmer warned his team on Sunday not to judge England on the Ashes series results and to plan well for a hectic programme leading up to the 2007 World Cup. After a well deserved four-month rest, Pakistan take on England in a

Andre Agassi will bid for the 60th title of his storied career on Sunday at the 380,000-dollar Los Angeles Mercedes-Benz Cup when he faces a youngster who beat him in their only previous meeting. Top seed Agassi gave himself full marks after vaulting into

India defeated the West Indies by six wickets in the triangular one-day cricket series at the Rangiri Stadium here on Sunday.

Vijay Singh tied a course record for lowest front-nine score en route to a nine-under-par 63 and a five-shot lead over Zach Johnson after the third round of the 4.6 million dollar PGA Buick Open here on Saturday.

The slogan for the 15th Asian Games to be staged at Doha (Qatar) from December 1 to 15, 2006 reads: 'the games of your life.' Ever since, the 1st Asiad held at New Delhi in 1951 have gone on to become better and bigger, both in terms of disciplines and at

Steve Waugh has told England's opening batsman they must find a more effective way of combatting leg-spinner Shane Warne if the team are to have a chance of winning the second Ashes Test at Edgbaston starting on Thursday.

Ian Crocker avenged his Athens Olympic defeat in the 100m butterfly with a world record-setting victory over fellow-American Michael Phelps on Saturday at the 11th World Swimming Championships. Crocker claimed his second straight 100m fly world title in 5

Nearly all types of paper, plastic and packaging have unique microscopic imperfections or fingerprints on their surface that could be used as a cheaper way to prevent fraud, scientists said on Wednesday (July 27).

There are many sleep walking tales, some absolutely untrue (no, they do not walk with their arms outstretched like in a horror movie) and some downright bizarre, like the sleepwalker in Switzerland who tried to join the army. People have fallen off stairs

Many countries are wasting millions of dollars planting trees because of myths that forests always help improve water flows and offset erosion, a British-led study said on Friday (July 29). Many trees, especially fast-growing species like pines and eucaly

Despite technology boom the village people are preferring Kumhars (Potters) for curing their bone disorder, as rural communities do not have access to proper health facilities. Apart from this there is no room for qualified orthopedists in government-run

The advancement in technology facilitates mankind immensely. But sometime, advancements become harmful - hazards from the environmental point of view. The new Murree project, which Punjab government planned to build at Patriata, turned out to be harmful f

People who put sugar in their tea or coffee greatly reduce the risk of gaining weight, according to a Danish study of 5,200 men, the daily Jyllands-Posten said on Monday (July 25).

Pineapple, a juicy fruit may contain cancer-fighting properties and other components which stimulate the immune system to target and kill cancer cells, says BBC health website. Two molecules isolated from an extract of crushed pineapple stems have shown p

Echinacea, the herbal remedy widely believed to prevent or ease the misery of the common cold, turns out to be no more effective than a placebo, according to a new study by the University of Virginia School of Medicine.

Forget expensive presents or costly jewellery. Wining and dining is the best way for men to woo women, scientists said on Tuesday (July 26). Researchers at University College London developed a mathematical formula and modelled courtship as a sequential g

Scientists have identified genes enabling breast cancer cells to spread to the lungs, a discovery that could improve diagnosis and treatment of the disease. The set of genes not only reveals where the cancer will spread, but also how virulent it is likely

On March 31, in front of a presidential panel on tax reform, Intel Corp President Paul Otellini issued a grim warning: without significant tax breaks, Intel might be forced to build its next big factory overseas.

Cyberspace is becoming a new battleground for the United States and China, amid growing concerns about Chinese industrial espionage through various types of computer worms, security experts say. At least one "Trojan horse" program used to steal files from

Telekomunikasi Indonesia on July 29, reported a rise in net profit in the first half of 48 percent year on year, driven by a strong performance in its market-leading cellphone unit Telkomsel. A drop in its foreign exchange losses further bolstered Telkom'

Telekomunikasi Indonesia on July 29, reported a rise in net profit in the first half of 48 percent year on year, driven by a strong performance in its market-leading cellphone unit Telkomsel. A drop in its foreign exchange losses further bolstered Telkom'

Some 58 percent of US farms have access to a computer and 51 percent use the Internet, the Agriculture Department said on July 29, rates that trail the national average for households.

Motorola Inc will put Yahoo Inc Web services such as search, instant messaging, e-mail and news on its handheld products in a new alliance to take advantage of increasingly powerful mobile devices, the companies said on July 26.

The ban on the production of Compact Disks (CDs), Digital Video Disks (DVDs) and closure of six optical disks production units in the cosmopolitan city have adversely affected Pakistani dramas, movies and other local entertainment, causing difficulties to

Japan's top mobile phone operator NTT DoCoMo said on July 29 its June-quarter net profit rose 22 percent year on year, thanks to the popularity of new products and services as well as aggressive cost-cutting. Group net profit stood at 207.9 billion yen (1

Japan's top mobile phone operator NTT DoCoMo said on July 29 its June-quarter net profit rose 22 percent year on year, thanks to the popularity of new products and services as well as aggressive cost-cutting. Group net profit stood at 207.9 billion yen (1

Life is enjoyable even without a TV or a computer. It may sound ridiculous for those who have to cross the 50-year mark, but the fact is life can be gloriously peaceful and wonderful. No glaring headlines, no viruses, no idiotic commercials pushing things

When ru-Net Holding investment company bought Internet store ozon.ru back in 2000 it had monthly sales of just $35,000 and was losing money. But, while hardly a match for US online retail pioneer Amazon.com , ozon.ru was still Russia's market leader and h

Europe's leading alternative telecoms operator Tele2 reported core earnings above market expectations on July 26 and said its Swedish mobile operations had healthy margins. The group said it had earnings before interest, tax, depreciation and amortisation

Europe's leading alternative telecoms operator Tele2 reported core earnings above market expectations on July 26 and said its Swedish mobile operations had healthy margins. The group said it had earnings before interest, tax, depreciation and amortisation

Jupiter Telecommunications Co Ltd, Japan's biggest cable TV company, is likely to post a 14 percent year-on-year rise in group net profit for the six months ended June 30, the Nihon Keizai business daily said on Thursday.

Jupiter Telecommunications Co Ltd, Japan's biggest cable TV company, is likely to post a 14 percent year-on-year rise in group net profit for the six months ended June 30, the Nihon Keizai business daily said on Thursday.

Japanese regulators have finalised policy on the allocation of new mobile phone operator licences and could choose the winners as early as November, opening the door for up to three new services starting in 2006.

The Siemens Communications Group would be setting up a City Information Platform at Nanning, south of China. This was stated in a communication of the organisation received here on July 25.

Hyundai Motor Co, South Korea's top auto maker, reported a rise in quarterly net profit on fewer bad loans and warranty liabilities, but operating profit tumbled a third on high steel costs and a strong won.

Hyundai Motor Co, South Korea's top auto maker, reported a rise in quarterly net profit on fewer bad loans and warranty liabilities, but operating profit tumbled a third on high steel costs and a strong won.

India's top consumer goods maker, Hindustan Lever Ltd, on July 30, reported a forecast-beating 17 percent rise in quarterly profit on improved sales and said it was ready to fight to stay the market leader. In its second quarter to end-June, Lever's net p

India's top consumer goods maker, Hindustan Lever Ltd, on July 30, reported a forecast-beating 17 percent rise in quarterly profit on improved sales and said it was ready to fight to stay the market leader. In its second quarter to end-June, Lever's net p

DaimlerChrysler's embattled Chief Executive Juergen Schrempp will leave at the end of the year, the carmaker said in a shock announcement on July 28, that eclipsed good earnings and sent its shares soaring.

Wal-Mart Stores Inc hopes to post double-digit sales growth in China this year and to double outlets by the end of 2006 as it aims to narrow a gap with Carrefour and others that dominate the $240 billion market.

Wal-Mart Stores Inc hopes to post double-digit sales growth in China this year and to double outlets by the end of 2006 as it aims to narrow a gap with Carrefour and others that dominate the $240 billion market.

Poor hedge fund performance in the first half of 2005 has not slowed the flow of money coming into the industry looking for real returns, trade publication EuroHedge said on July 27. A survey carried out by EuroHedge shows a record 150 new European hedge

Poor hedge fund performance in the first half of 2005 has not slowed the flow of money coming into the industry looking for real returns, trade publication EuroHedge said on July 27. A survey carried out by EuroHedge shows a record 150 new European hedge

China has unveiled rules to help troubled securities firms pay back debt owed to retail investors, as Beijing tries to cushion the impact from its efforts to clean up the loss-making brokerage sector. The rules, issued by the Ministry of Finance, the cent

Toyota Motor Corp said on July 26, it aimed to boost sales of its Lexus luxury cars to 500,000 units globally in 2006 - up 40 percent from last year - as it rolls out the brand for the first time in Japan next month.

Deutsche Bank on July 28, reported a bigger-than-expected jump in profit in the second quarter, as income from trading, investments and other businesses improved. Reporting net profit up 44 percent to 947 million euros ($1.14 billion) in the second quarte

Deutsche Bank on July 28, reported a bigger-than-expected jump in profit in the second quarter, as income from trading, investments and other businesses improved. Reporting net profit up 44 percent to 947 million euros ($1.14 billion) in the second quarte

Dubai Investments said on July 27, its first-half net profit jumped almost six-fold to 253 million dirhams ($68.9 million) from 46 million dirhams a year earlier. Revenue rose 362 percent to 637 million dirhams while assets grew to 2.6 billion dirhams, up

Dubai Investments said on July 27, its first-half net profit jumped almost six-fold to 253 million dirhams ($68.9 million) from 46 million dirhams a year earlier. Revenue rose 362 percent to 637 million dirhams while assets grew to 2.6 billion dirhams, up

Dubai Investments said on July 27, its first-half net profit jumped almost six-fold to 253 million dirhams ($68.9 million) from 46 million dirhams a year earlier. Revenue rose 362 percent to 637 million dirhams while assets grew to 2.6 billion dirhams, up

Germany's SAP AG, the world's biggest maker of business software, said on July 26, its Asia Pacific software sales could outperform the global average growth goal of 10-12 percent in 2005, thanks to a robust order pipeline.

Germany's SAP AG, the world's biggest maker of business software, said on July 26, its Asia Pacific software sales could outperform the global average growth goal of 10-12 percent in 2005, thanks to a robust order pipeline.

Thai shares were tipped to post limited gains in the week ahead boosted by second-quarter earnings reports and abundant fund flows to Asia after China revalued the yuan, analysts said. "I project the market will post slight gains as large listed companies

Malaysian shares are expected to trade higher this week as market sentiment continues to be positive after the removal of the ringgit's peg to the dollar, analysts said. "The feel-good factor currently permeating the market is expected to be maintained as

Hong Kong shares are likely to stay rangebound this week taking their cue from the interim results for banking giant HSBC, dealers said. BC and its subsidiary will kick off the earnings season on Monday with the release of their first half results. The Ba

Indian markets are expected to see a correction this week after four straight trading days of record gains as funds and retail investors are expected to lock in gains, dealers said. The Mumbai stock exchange's 30-share Sensex ended the week at a record cl

Most Egyptian bank shares slid on Sunday, weighing down the market overall, after Britain's Barclays Bank appeared to pull out of the race to buy Misr International Bank (MIBank), dealers said. State-owned Banque Misr, which owns 25.5 percent of MIBank, s

Asian currencies mostly fell against the dollar during the week as the US unit clawed back to a stronger position after China said it did not plan further revaluation of the yuan in the immediate future.

Ten days after China revalued its currency the central bank is again in a tight fix, battling market expectations for further adjustments. After months of intense foreign pressure, China freed the yuan from an 11-year-old peg to the US dollar on Thursday

US stocks may fail to extend their recent rally as a slowing growth outlook and higher interest rates offset strong second-quarter earnings. Some investors said gains in stocks may be limited this week as equity prices already reflect prospects for the ec

Philippines share prices are expected to perform sluggishly this week until key companies release their earnings results for the three months to June, analysts said. The political crisis over opposition efforts to unseat President Gloria Arroyo on charges

The London stock market is set to focus on Britain's leading banks this week as they report first-half earnings, while the Bank of England is set to cut interest rates after keeping them on hold for a year. The FTSE 100 index of leading London shares clos

Japanese share prices are seen rising modestly in the coming week as the market expects indicators to show a solid US economy, although political uncertainties in Tokyo will add some caution, dealers said.

Interbank buy/sell rates for the taka against the dollar on Sunday. 64.95 (previous 64.95/65.25). Call Money Rates: 4.75-12.0 percent (previous 4.0-16.5 percent).

Singapore share prices are expected to move sideways this week amid the corporate earnings season as the market consolidates following a property-led rally, dealers said. "It looks like the market will just move sideways this week," said UOB Kay Hian deal

Indonesian share prices are expected to succumb to profit-taking in the coming week following recent strong gains, dealers said. Chances of a correction are high because of strong gains over the past two weeks. Some stocks are already overbought so I expe

Taiwan share prices are expected to trade range-bound this week amid cautious sentiment with more companies due to release their second quarter and first-half earnings, dealers said. The bellwether electronics shares which slid this week should find some

Osama bin Laden is still giving direct orders for al Qaeda attacks, Saudi Arabia's next ambassador to the United States said on Sunday. Outgoing Saudi ambassador to Britain Prince Turki al-Faisal said some of the most recent attacks attributed to al Qaeda

Egypt's Muslim Brotherhood, the country's largest opposition group, said on Sunday the beating of activists protesting against a new term for President Hosni Mubarak showed the government was not serious about reform.

A tornado that lashed east China killed 15 people, including 11 schoolchildren who died when the roof of their classroom collapsed, media reports said on Sunday. Xinhua news agency, state television and a local emergency services official contacted by Reu