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Print - 2004-01-19
WestLB to sell Odeon cinemas

WestLB to sell Odeon cinemas

German state bank WestLB is close to selling its stake in Odeon, the UK's largest cinema chain, in a deal valued at up to 300 million pounds ($544 million), a newspaper said on Sunday.
Published 19 Jan, 2004 12:00am
BoI retaliates over Parmalat criticism

BoI retaliates over Parmalat criticism

The Bank of Italy was not given any warnings ahead of the near-collapse of food firm Parmalat in a multi-billion-euros accounting scandal, sources told newspapers on Sunday, rebutting an economy ministry attack.
Published 19 Jan, 2004 12:00am
UK economy to grow 3.0 percent this year

UK economy to grow 3.0 percent this year

The British economy will grow by 3.0 percent this year and interest rates will rise to 4.75 percent by December, a report by accountants Ernst and Young predicted on Sunday.
Published 19 Jan, 2004 12:00am
Saudi minister urges economic reform to spur growth

Saudi minister urges economic reform to spur growth

Saudi Arabia faces a race against time to expand its oil-dominated economy and create jobs for a rapidly growing population, its trade minister told an economic conference.
Published 19 Jan, 2004 12:00am
Asean seeks to fast-track economic integration

Asean seeks to fast-track economic integration

Southeast Asian economic ministers will discuss ways to accelerate regional economic integration following free-trade arrangements with Asian giants China and India, an official said Sunday.
Published 19 Jan, 2004 12:00am
Saudi Arabia launches major gas processing plant

Saudi Arabia launches major gas processing plant

Saudi Arabia launched on Sunday its Haradh gas plant - an expansion project intended to help fuel economic growth and industrialisation in the world's largest oil exporter.
Published 19 Jan, 2004 12:00am
New Islamic bank gets green light in Kuwait

New Islamic bank gets green light in Kuwait

The Central Bank of Kuwait (CBK) has issued a provisional licence for establishing a new Islamic bank in the emirate, CBK governor Sheikh Salem Abdul Aziz al-Sabah said Sunday.
Published 19 Jan, 2004 12:00am
Elections a risk for Asian economies in 2004

Elections a risk for Asian economies in 2004

Elections in several Asian countries this year pose varying degrees of economic risks that are expected to defer many big investment plans until after the polls, German lender Deutsche Bank said.
Published 19 Jan, 2004 12:00am
German opposition head sees no tax deal this year

German opposition head sees no tax deal this year

The head of Germany's opposition conservatives Angela Merkel appeared to hit hopes for a major agreement on tax reform this year, telling a German newspaper on Sunday she did not expect to reach a deal with the government.
Published 19 Jan, 2004 12:00am
Bundesbank board against gold sale plan

Bundesbank board against gold sale plan

Proposals by Bundesbank President Ernst Welteke to use sales from the German central bank's gold reserves to fund education projects have hit opposition in both the Bundesbank and the finance ministry, Der Spiegel reported.
Published 19 Jan, 2004 12:00am
Ten killed in Indian road accident

Ten killed in Indian road accident

Ten people were killed and six injured when a jeep collided with a bus on a northern Indian highway, Press Trust of India reported Sunday.
Published 19 Jan, 2004 12:00am
US eyes space as possible battleground

US eyes space as possible battleground

President George W. Bush's plan to expand the exploration of space parallels US efforts to control the heavens for military, economic and strategic gain.
Published 19 Jan, 2004 12:00am
Israel postpones debate over West Bank barrier route

Israel postpones debate over West Bank barrier route

Israeli Prime Minister Ariel Sharon postponed a debate with his inner cabinet on Sunday over possible changes to the route of Israel's controversial West Bank barrier ahead of a world court hearing.
Published 19 Jan, 2004 12:00am
Iranian Guardians Council to review electoral blacklist

Iranian Guardians Council to review electoral blacklist

Iran's powerful conservative Guardians Council pledged on Sunday it would review a controversial blacklist of candidates hoping to contest next month's parliament elections, saying it would respect an order from the Islamic republic's supreme leader to be
Published 19 Jan, 2004 12:00am
Protests rock industrial centre adjoining Delhi

Protests rock industrial centre adjoining Delhi

Residents of the industrial and commercial town of Noida adjoining New Delhi staged protests on Sunday against a change in administration despite a tight vigil by riot police, reports said.
Published 19 Jan, 2004 12:00am
Abdullah meets US Centcom chief

Abdullah meets US Centcom chief

Jordan's King Abdullah II held talks Sunday with the chief of the US Central Command, General John Abizaid, which focused on the future of the kingdom's war-torn neighbour Iraq, an official report said.
Published 19 Jan, 2004 12:00am
China urges US to oppose Taiwan

China urges US to oppose Taiwan

China has again called on the United States to oppose any separatist moves by ideological and diplomatic foe Taiwan, which said on Sunday it wanted to send a delegation to the mainland to meet eight men accused of spying.
Published 19 Jan, 2004 12:00am
Wealth of ruling families biggest obstacle to Gulf reform

Wealth of ruling families biggest obstacle to Gulf reform

The wealth of the Gulf monarchies, which skyrocketed with the 1970s oil crises, is now the biggest obstacle to their reform since it remains largely in the hands of conservative ruling families, analysts say.
Published 19 Jan, 2004 12:00am
Rebels kill 18 in north Uganda

Rebels kill 18 in north Uganda

Rebels of the Lord's Resistance Army (LRA) killed at least 18 people, most of them women, in the northern Ugandan district of Lira last week, clergymen and military officials said Sunday.
Published 19 Jan, 2004 12:00am
US agrees to pull all troops from Seoul

US agrees to pull all troops from Seoul

The United States has agreed to pull all its troops out of the South Korean capital, raising security concerns as a crisis over North Korean nuclear programmes persists, officials said Sunday.
Published 19 Jan, 2004 12:00am
Afghan woman singer back on television

Afghan woman singer back on television

A woman singer has reappeared on Afghan state-run television, apparently signalling that reformists have won a dispute with conservatives over women entertainers.
Published 19 Jan, 2004 12:00am
Another car involved in Diana crash

Another car involved in Diana crash

A witness to the 1997 Paris car crash which killed Britain's Princess Diana has described seeing a white Fiat being driven in a strange manner at the scene, a British newspaper reported Sunday.
Published 19 Jan, 2004 12:00am
No chemical warfare agents found in Iraq: Danish military

No chemical warfare agents found in Iraq: Danish military

US experts have found no trace of chemical warfare agents in three dozen mortar shells found in Iraq earlier this month, after a second round of definitive testing, the Danish military said Sunday.
Published 19 Jan, 2004 12:00am
Raging rand a S African miracle

Raging rand a S African miracle

South Africa's rand currency has become the latest "miracle" in a country that astonished the world in 1994 with its peaceful transition to democracy and the end of apartheid white minority rule.
Published 19 Jan, 2004 12:00am
JI flays government for price hike

JI flays government for price hike

Jamaat-e-Islami Punjab Majlis-e-Shoora has severely criticised the government for failing to stop the increase in the prices of essential commodities and petroleum products and alleged that the government is be-fooling the masses by increasing the petrol
Published 19 Jan, 2004 12:00am
Fears of Islamic extremism haunt Mauritania

Fears of Islamic extremism haunt Mauritania

To the country's Islamic leaders, Mauritanias bearded, white-robed preachers are devout Muslims spreading an interpretation of Islam they believe many have watered down.
Published 19 Jan, 2004 12:00am
High salary and perks

High salary and perks

A few letters appeared in the press recently about the appointment of chief of the Oil and Gas Development Authority (OGRA) at a high salary and perks amounting to about half a million rupees per month.
Published 19 Jan, 2004 12:00am
SAFTA may have negative impact on local industry

SAFTA may have negative impact on local industry

In a Russian perspective of South Asia, its Institute of Oriental Studies comments: "Among territorial sub-regions of the world, South Asia is unique in having a density of population six times more than the average for the planet. Barring tropical Africa
Published 19 Jan, 2004 12:00am
Taxation of derivatives

Taxation of derivatives

The Income Tax Ordinance, 2001, promulgated on 13th September 2001 and made effective from 1st July 2002 in Pakistan, does not define 'derivative financial instruments' which are flexible tools for financial engineering and speculators.
Published 19 Jan, 2004 12:00am
How not to hamper fruit exports

How not to hamper fruit exports

Regrettable, indeed, is the reported refusal of the Customs authorities to allow registered fruit exporters duty-free import of cartons under the Duty and Tax Remission Rules for Exports (DTRE), which have been in force in order to help boost the country'
Published 19 Jan, 2004 12:00am
The President's address to Parliament

The President's address to Parliament

President General Pervez Musharraf finally made his long delayed address to a joint session of Parliament on Saturday amid nerve testing behaviour by the Opposition parties' members, who kept thumping on their desks and chanting slogans against him.
Published 19 Jan, 2004 12:00am
Finance minister to open S&T moot on January 19

Finance minister to open S&T moot on January 19

Finance Minister Shaukat Aziz will inaugurate international seminar on " S&T Policy Options for Developing Countries," here on Monday, January 19, at a local hotel at 9.30 am.
Published 19 Jan, 2004 12:00am
Maulana Noorani's Chehlum held

Maulana Noorani's Chehlum held

The Chehlum of former chief of JUP and MMA late Maulana Shah Ahmed Noorani Siddiqui was held here at Ameer Khusro Bagh near his Clifton residence on Sunday.
Published 19 Jan, 2004 12:00am
Three held for threatening Shaista

Three held for threatening Shaista

Three people have been arrested for threatening Shaista Almani so far and Sindh Police is providing complete protection to her.
Published 19 Jan, 2004 12:00am
Minister stresses preservation of cultural heritage

Minister stresses preservation of cultural heritage

The Federal Minister for Information and Broadcasting Sheikh Rashid Ahmad has emphasised the importance of preservation of cultural heritage of the country assuring that government would accord support for the purpose.
Published 19 Jan, 2004 12:00am
Mass marriages held at Governor House Punjab

Mass marriages held at Governor House Punjab

Punjab Governor Khalid Maqbool has urged the philanthropists to join hands with the government in its efforts for overcoming unemployment, poverty alleviation and providing better health care facilities to people.
Published 19 Jan, 2004 12:00am
'Talks with APHC faction to accomplish Indian designs'

'Talks with APHC faction to accomplish Indian designs'

The AJK president Major General Sardar Muhammad Anwar Khan (Retd) has termed Indian government's parlays with an APHC faction is the fulfillment of Indian designs to divide Kashmiris.
Published 19 Jan, 2004 12:00am
First Women Bank profit rates

First Women Bank profit rates

First Women Bank Ltd has announced profit rates on various types of PLS deposits for the half year ended July to December 2003.
Published 19 Jan, 2004 12:00am
Three booked for fraud

Three booked for fraud

City police have registered a fraud case against three persons including District Superintendent Post office, Sheikupura.
Published 19 Jan, 2004 12:00am
Safe Air to set up training centre

Safe Air to set up training centre

Safe Air International (SAI) will soon set up a training centre in Karachi to provided education and training to its crew.
Published 19 Jan, 2004 12:00am
Security tightened in occupied Kashmir

Security tightened in occupied Kashmir

Commandoes were deployed in occupied Jammu on Sunday ahead of a two-day visit by the main opposition Congress party leader Sonia Gandhi.
Published 19 Jan, 2004 12:00am
EOBI plans to boost revenue in 2004

EOBI plans to boost revenue in 2004

Employees Old Age Benefit Institution (EOBI) devised new ways to boost its earnings in the coming years, which has recorded a tremendous growth of 35 percent in six months ended December 2003 compared with same period a year ago.
Published 19 Jan, 2004 12:00am
'Pakistani film industry can become export-oriented sector'

'Pakistani film industry can become export-oriented sector'

The Pakistani film industry has immense potential of growth, and could earn billions in foreign exchange if the standard of production is improved and the virgin markets of North America, Europe and Middle-East are tapped in a professional manner.
Published 19 Jan, 2004 12:00am
ECP holds workshop on voter list

ECP holds workshop on voter list

A consultative "Workshop on annual revision and updating of electoral rolls 2004" was held under the auspices of Election Commission of Pakistan and UNDP here on Sunday.
Published 19 Jan, 2004 12:00am
Maqbool upholds Mohtasib verdict in Tevta plea

Maqbool upholds Mohtasib verdict in Tevta plea

Punjab Governor Lieutenant General Khalid Maqbool (Retd) has rejected the representation of Technical Education and Vocational Training Authority (Tevta) against the order of the Ombudsman Punjab regarding payment of house rent to a complainant.
Published 19 Jan, 2004 12:00am
Spinners rule the roost on cotton market

Spinners rule the roost on cotton market

The local situation belied ginners hope to gain from lower asking prices, but the same did not yield desired result as buying came down from even calculated 10,000 bales a day limit during the week ended on January 18, 2004.
Published 19 Jan, 2004 12:00am
Sluggish trend marked on commodity markets

Sluggish trend marked on commodity markets

The trading in the wholesale commodity markets maintained generally sluggish going, as changes depicted no major variations during the week ended on January 17, 2004.
Published 19 Jan, 2004 12:00am
MMA terms President's address disappointing

MMA terms President's address disappointing

Punjab Muttahida Majlis-i-Amal (MMA) President Hafiz Muhammad Idrees while terming the President's address to parliament as disappointing has alleged that the claims made by the President in the speech were totally baseless and contrary to facts.
Published 19 Jan, 2004 12:00am
Cotton prices depict mixed trend in local, world markets

Cotton prices depict mixed trend in local, world markets

As per Pakistan Cotton Ginners Association figures up to January 15, 2004, released on January 17, total arrivals of seed-cotton were equivalent to 8.870 million bales, against 9.191 million bales received on the same time last year.
Published 19 Jan, 2004 12:00am
Cotton prices depict mixed trend in local, world markets

Cotton prices depict mixed trend in local, world markets

As per Pakistan Cotton Ginners Association figures up to January 15, 2004, released on January 17, total arrivals of seed-cotton were equivalent to 8.870 million bales, against 9.191 million bales received on the same time last year.
Published 19 Jan, 2004 12:00am
Fakhri elected Safa president

Fakhri elected Safa president

Badruddin Fakhri, Member of National Council of Institute of Cost & Management Accountants of Pakistan (ICMAP), has been elected as President of South Asian Federation of Accountants (Safa) for the year 2004 in the 52nd assembly of the Federation held in
Published 19 Jan, 2004 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 19 Jan, 2004 12:00am
Rashid calls on Prime Minister

Rashid calls on Prime Minister

Prime Minister Mir Zafarullah Khan Jamali on Sunday said that all segments of the society have warmly welcomed the President's thought-provoking address to the Parliament, which marked yet another milestone in the country's smooth transition towards full-
Published 19 Jan, 2004 12:00am
10 killed in occupied Kashmir

10 killed in occupied Kashmir

Indian occupation troops in stepped-up acts of terrorism have killed 10 more people in occupied Kashmir on Sunday.
Published 19 Jan, 2004 12:00am
US Chamber, Business Council team visits Lahore on January 19

US Chamber, Business Council team visits Lahore on January 19

A high-level joint delegation of US Chamber of Commerce and US-Pakistan Business Council will visit Lahore on Monday, January 19, to explore the investment avenues in different sectors for strengthening economic co-operation between the two countries.
Published 19 Jan, 2004 12:00am
Bomb blast near gas pipeline

Bomb blast near gas pipeline

A bomb exploded near main pipeline of Sui Northern Gas Pipelines Limited crossing Mauza Kakas Uchsharif. However, no damage was reported to the pipeline.
Published 19 Jan, 2004 12:00am
Punjab IGP directed to launch drive against criminals

Punjab IGP directed to launch drive against criminals

Punjab Chief Minister Chaudhry Pervaiz Elahi on Sunday directed IG Police to prepare a list of proclaimed offenders as well as launch an operation for apprehending criminals and their patrons in the province.
Published 19 Jan, 2004 12:00am
PML-N leader flays double standards of MMA

PML-N leader flays double standards of MMA

Pakistan Muslim League (Nawaz) President in NWFP and former chief minister Pir Sabir Shah has said that opposition has protested over Legal Framework Order (LFO) in parliament as General Pervez Musharraf has completely changed parliamentary system of gove
Published 19 Jan, 2004 12:00am
National anti-polio drive begins on January 19

National anti-polio drive begins on January 19

All arrangements have been finalised in Faisalabad district to administer polio vaccine drops to the children under five years of age during forthcoming three-day national anti-polio drive starting from January 19.
Published 19 Jan, 2004 12:00am
Muttahida Majlis-i-Amal launches mass contact drive

Muttahida Majlis-i-Amal launches mass contact drive

Muttahida Majlis-i-Amal (MMA) on Sunday launched its mass contact drive to apprise the people about present government's anti-Kashmir, anti-freedom fighters, anti-nuclear and pro-secularism and pro-American policies
Published 19 Jan, 2004 12:00am
President's address to allay doubts about Islam and Pakistan

President's address to allay doubts about Islam and Pakistan

Federal Minister for Water and Power Aftab Ahmad Khan Sherpao has said that President Musharraf's address to the joint session of the parliament will allay the misgiving of world, being projected by the western media about Pakistan and Islam.
Published 19 Jan, 2004 12:00am
Cable operators protest against registration of case

Cable operators protest against registration of case

Cable Operations Association, Southern Punjab, has strongly reacted to institution of a case against a cable operator on sedition charges describing it unjust, unfair and repugnant to the norms of justice and said that they are as patriots as any other Pa
Published 19 Jan, 2004 12:00am
WWF to start skill training for workers children

WWF to start skill training for workers children

Worker Welfare Fund (WWF) has chalked out a comprehensive plan to start skill training programme for workers children to explore new markets of manpower export.
Published 19 Jan, 2004 12:00am
Punjab government formulates agriculture policy

Punjab government formulates agriculture policy

The Punjab government has formulated a comprehensive agricultural policy to provide modern agriculture inputs to farmers, loans on soft-term basis, the best way of marketing agriculture produce and provision of laser tractors to farmers at the union counc
Published 19 Jan, 2004 12:00am
Pakistan turns to India for software growth

Pakistan turns to India for software growth

Taking advantage of a thaw in tense relations, Pakistan has approached India for help in developing its software sector, an Indian industry group said here on Sunday.
Published 19 Jan, 2004 12:00am
Omar Sheikh to be probed in bid on President's life

Omar Sheikh to be probed in bid on President's life

Authorities plan to interrogate British-born Ahmad Saeed Omar Sheikh convicted in the murder plot of US journalist Daniel Pearl over his group's possible involvement in an assassination attempt on President Pervez Musharraf, security officials said on Sun
Published 19 Jan, 2004 12:00am
PAF cadets urged to achieve high standards

PAF cadets urged to achieve high standards

The best project presentation ceremony of 58th Engineering Course was held at the College of Aeronautical Engineering, PAF Academy Risalpur on Sunday.
Published 19 Jan, 2004 12:00am
Three-year-old girl to undergo rare surgery at NICVD

Three-year-old girl to undergo rare surgery at NICVD

A panel comprising senior-surgeons and paediatric cardiologists has decided to perform upon three-year-old girl Alina a rare and extremely delicate procedure to help reconstruct an artificial breast bone at the gap exposing her heart.
Published 19 Jan, 2004 12:00am
Majlis-i-Amal starts mass contact campaign

Majlis-i-Amal starts mass contact campaign

The Muttahida Majlis-i-Amal (MMA) on Sunday announced the start of its mass contact campaign in Karachi for Nifaz-e-Shariat, protection of Islamic values and acceptance of its 17-point agenda for resolving public issues.
Published 19 Jan, 2004 12:00am
Students Week

Students Week

Commerce Institute of Business Education has organised a "Students Week" commencing from January 19 (Monday).
Published 19 Jan, 2004 12:00am
Union Bank subscription opens from January 19

Union Bank subscription opens from January 19

The subscription for general public in Union Bank would be opened from January 19 to 20 for Rs 150 million set from the term finance certificates.
Published 19 Jan, 2004 12:00am
Mystery shrouds award of wheat contract by Passco

Mystery shrouds award of wheat contract by Passco

Mystery shrouds the award of contract by Passco for the import of 150,000 tonnes wheat. The contract has been awarded to a local firm Tradesman at his offered price of 224.75 dollar per tonne in sharp contrast to the lowest bidder Australian Wheat Board (
Published 19 Jan, 2004 12:00am
Mystery shrouds award of wheat contract by Passco

Mystery shrouds award of wheat contract by Passco

Mystery shrouds the award of contract by Passco for the import of 150,000 tonnes wheat. The contract has been awarded to a local firm Tradesman at his offered price of 224.75 dollar per tonne in sharp contrast to the lowest bidder Australian Wheat Board (
Published 19 Jan, 2004 12:00am
Deposit, advances growth and sign of economic activity

Deposit, advances growth and sign of economic activity

Deposits at banks recorded a growth of 16 percent and advances appreciated by 17 percent in 2003 following sharp improvement in macro economic indictors, influx of remittances from overseas Pakistanis and introduction of credit cards.
Published 19 Jan, 2004 12:00am
India approves purchase of Russian aircraft carrier

India approves purchase of Russian aircraft carrier

India has approved the purchase of a refurbished Russian aircraft carrier, the Admiral Gorshkov, and a deal worth more than $1 billion is likely to be signed this week, defence ministry officials said on Sunday.
Published 19 Jan, 2004 12:00am
122-year-old Chechen could be world's oldest woman

122-year-old Chechen could be world's oldest woman

A Chechen great-great-grandmother born in 1881 could be the oldest woman in the world, Russian state television reported on Sunday, saying she pipped the current record holder by eight years.
Published 19 Jan, 2004 12:00am