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Print - 2004-02-06
Paapam seeks special export category for auto parts

Paapam seeks special export category for auto parts

Pakistan Automotive Parts and Accessories Manufacturers Association (Paapam) has urged the Export Promotion Bureau (EPB) to declare auto parts as special export category for giving subsidy in participating cost of fairs and exhibitions with the objective
Published 06 Feb, 2004 12:00am
Islamabad hands over warlord to Kabul

Islamabad hands over warlord to Kabul

Pakistan handed over to Afghan authorities a warlord it arrested three months ago who had fought the rule of President Hamid Karzai, an official said on Thursday.
Published 06 Feb, 2004 12:00am
Islamabad hands over warlord to Kabul

Islamabad hands over warlord to Kabul

Pakistan handed over to Afghan authorities a warlord it arrested three months ago who had fought the rule of President Hamid Karzai, an official said on Thursday.
Published 06 Feb, 2004 12:00am
French firm and India to sign air defence radar deal

French firm and India to sign air defence radar deal

Leading French electronics company, Thales, has agreed to transfer critical technology to India for the construction of 19 low-level air defence radar systems, a company chief told AFP on Thursday.
Published 06 Feb, 2004 12:00am
Heavy duty on edible oil import hits ghee industry

Heavy duty on edible oil import hits ghee industry

The entire ghee industry in Pakistan has been paralysed reportedly by heavy burden of duty structure imposed by the government which is almost 75 percent of the C&F value.
Published 06 Feb, 2004 12:00am
Heavy duty on edible oil import hits ghee industry

Heavy duty on edible oil import hits ghee industry

The entire ghee industry in Pakistan has been paralysed reportedly by heavy burden of duty structure imposed by the government which is almost 75 percent of the C&F value.
Published 06 Feb, 2004 12:00am
Siemens to cut 500 to 600 jobs in Germany

Siemens to cut 500 to 600 jobs in Germany

German engineering group Siemens said on Thursday it would cut 500 to 600 manufacturing jobs in Germany at ailing telecoms equipment unit ICN to move production to a lower-cost region, possibly China.
Published 06 Feb, 2004 12:00am
Markets bet against G7 forex deal

Markets bet against G7 forex deal

Financial markets on Thursday bet against the weekend Group of Seven economic powers meeting agreeing on how to tackle currency swings, sending the dollar lower against the euro.
Published 06 Feb, 2004 12:00am
Toyota ups 2003-04 profit forecasts on strong third-quarter

Toyota ups 2003-04 profit forecasts on strong third-quarter

Toyota Motor Corp, the world's No 2 auto maker, posted a huge jump in quarterly profits on Thursday, fuelled by firm sales growth everywhere, prompting it to lift its earnings forecasts for the full year.
Published 06 Feb, 2004 12:00am
Asian central banks seen diversifying into euros: EIB

Asian central banks seen diversifying into euros: EIB

Asian central banks and investors are diversifying their assets into euros in a shift that is boosting the European single currency, a senior official of the European Investment Bank said on Thursday.
Published 06 Feb, 2004 12:00am
Iran reformers confirm poll boycott

Iran reformers confirm poll boycott

Iran's main reformist party announced on Thursday that it would go ahead with a boycott of key polls in two weeks, charging that a review ordered by supreme leader Ayatollah Ali Khamenei had resulted in the reinstatement of just 51 of some 2,500 candidate
Published 06 Feb, 2004 12:00am
Iran reformers confirm poll boycott

Iran reformers confirm poll boycott

Iran's main reformist party announced on Thursday that it would go ahead with a boycott of key polls in two weeks, charging that a review ordered by supreme leader Ayatollah Ali Khamenei had resulted in the reinstatement of just 51 of some 2,500 candidate
Published 06 Feb, 2004 12:00am
Majlis-i-Amal to observe strike on February 6

Majlis-i-Amal to observe strike on February 6

The conglomerate of six religious political parties Muttahida Majlis-i-Amal (MMA) has given a strike call on Friday to hold rallies and public meeting to condemn government's attitude towards Dr A.Q. Khan.
Published 06 Feb, 2004 12:00am
Majlis-i-Amal to observe strike on February 6

Majlis-i-Amal to observe strike on February 6

The conglomerate of six religious political parties Muttahida Majlis-i-Amal (MMA) has given a strike call on Friday to hold rallies and public meeting to condemn government's attitude towards Dr A.Q. Khan.
Published 06 Feb, 2004 12:00am
Flexibility a must to resolve Kashmir issue: Musharraf

Flexibility a must to resolve Kashmir issue: Musharraf

President General Pervez Musharraf on Thursday reaffirmed Pakistan's moral, political and diplomatic support to the occupied Kashmir cause and called for flexibility by all the sides to find an acceptable solution of the dispute.
Published 06 Feb, 2004 12:00am
Flexibility a must to resolve Kashmir issue: Musharraf

Flexibility a must to resolve Kashmir issue: Musharraf

President General Pervez Musharraf on Thursday reaffirmed Pakistan's moral, political and diplomatic support to the occupied Kashmir cause and called for flexibility by all the sides to find an acceptable solution of the dispute.
Published 06 Feb, 2004 12:00am
Agarbatti exempted from central excise duty

Agarbatti exempted from central excise duty

The Central Board of Revenue (CBR) has directed all collectors of sales tax and central excise not to charge central excise duty (CED) on the 'Agarbatti' and other odiferous preparations.
Published 06 Feb, 2004 12:00am
Agarbatti exempted from central excise duty

Agarbatti exempted from central excise duty

The Central Board of Revenue (CBR) has directed all collectors of sales tax and central excise not to charge central excise duty (CED) on the 'Agarbatti' and other odiferous preparations.
Published 06 Feb, 2004 12:00am
Five scientists and officials formally arrested

Five scientists and officials formally arrested

Pakistan has formally arrested five scientists and officials from its top nuclear facility amid a probe into the alleged transfer of technology to other countries, a government spokesman said on Thursday.
Published 06 Feb, 2004 12:00am
Five scientists and officials formally arrested

Five scientists and officials formally arrested

Pakistan has formally arrested five scientists and officials from its top nuclear facility amid a probe into the alleged transfer of technology to other countries, a government spokesman said on Thursday.
Published 06 Feb, 2004 12:00am
ElBaradei says A Q Khan just tip of atomic iceberg

ElBaradei says A Q Khan just tip of atomic iceberg

The head of the UN nuclear watchdog said on Thursday the father of Pakistan's atomic bomb was not working alone in creating an illicit network to sell nuclear technology to Libya, Iran and North Korea.
Published 06 Feb, 2004 12:00am
ElBaradei says A Q Khan just tip of atomic iceberg

ElBaradei says A Q Khan just tip of atomic iceberg

The head of the UN nuclear watchdog said on Thursday the father of Pakistan's atomic bomb was not working alone in creating an illicit network to sell nuclear technology to Libya, Iran and North Korea.
Published 06 Feb, 2004 12:00am
PTCL may be next on SingTel investment list

PTCL may be next on SingTel investment list

Pakistan could be the next destination for Singapore Telecommunications Limited after officials on Thursday named state-owned Pakistan Telecommunications Company Limited as a "possible" investment target."
Published 06 Feb, 2004 12:00am
PTCL may be next on SingTel investment list

PTCL may be next on SingTel investment list

Pakistan could be the next destination for Singapore Telecommunications Limited after officials on Thursday named state-owned Pakistan Telecommunications Company Limited as a "possible" investment target."
Published 06 Feb, 2004 12:00am
Cotton production likely to fall short of target

Cotton production likely to fall short of target

Cotton production is likely to fall short of the target as the arrival at the ginneries as on January 31 was recorded at 9.2 million bales against 8.9 million bales of January 15.
Published 06 Feb, 2004 12:00am
Cotton production likely to fall short of target

Cotton production likely to fall short of target

Cotton production is likely to fall short of the target as the arrival at the ginneries as on January 31 was recorded at 9.2 million bales against 8.9 million bales of January 15.
Published 06 Feb, 2004 12:00am
First independent Azad Kashmir TV channel inaugurated

First independent Azad Kashmir TV channel inaugurated

President General Pervez Musharraf on Thursday inaugurated the first independent AJK TV channel and hoped it will play an important role in creating solidarity among the Kashmiri people and would reflect their true aspirations.
Published 06 Feb, 2004 12:00am
First independent Azad Kashmir TV channel inaugurated

First independent Azad Kashmir TV channel inaugurated

President General Pervez Musharraf on Thursday inaugurated the first independent AJK TV channel and hoped it will play an important role in creating solidarity among the Kashmiri people and would reflect their true aspirations.
Published 06 Feb, 2004 12:00am
World oil prices too high, stocks too low: IEA

World oil prices too high, stocks too low: IEA

The International Energy Agency (IEA) said on Thursday world oil stocks were too low and oil prices were too high but that Opec, which meets next week to review output, had little interest in such firm prices.
Published 06 Feb, 2004 12:00am
US pleased with steps taken by Islamabad

US pleased with steps taken by Islamabad

The United States is pleased with the steps Pakistan has taken on nuclear non-proliferation, White House spokesman Scott McClellan said.
Published 06 Feb, 2004 12:00am
US pleased with steps taken by Islamabad

US pleased with steps taken by Islamabad

The United States is pleased with the steps Pakistan has taken on nuclear non-proliferation, White House spokesman Scott McClellan said.
Published 06 Feb, 2004 12:00am
Pak Eurobond road show in Singapore on February 6

Pak Eurobond road show in Singapore on February 6

Federal Finance Minister Shaukat Aziz has said that Pakistan would launch road show of Eurobond on Friday in Singapore and take it to Hong Kong, London, Bahrain, Abu Dhabi, and Frankfurt.
Published 06 Feb, 2004 12:00am
Pak Eurobond road show in Singapore on February 6

Pak Eurobond road show in Singapore on February 6

Federal Finance Minister Shaukat Aziz has said that Pakistan would launch road show of Eurobond on Friday in Singapore and take it to Hong Kong, London, Bahrain, Abu Dhabi, and Frankfurt.
Published 06 Feb, 2004 12:00am
Pak Eurobond road show in Singapore on February 6

Pak Eurobond road show in Singapore on February 6

Federal Finance Minister Shaukat Aziz has said that Pakistan would launch road show of Eurobond on Friday in Singapore and take it to Hong Kong, London, Bahrain, Abu Dhabi, and Frankfurt.
Published 06 Feb, 2004 12:00am
Dr Qadeer pardoned

Dr Qadeer pardoned

President General Pervez Musharraf has pardoned Dr Abdul Qadeer Khan for his confession of passing on the nuclear secrets to Iran and Libya.
Published 06 Feb, 2004 12:00am
Dr Qadeer pardoned

Dr Qadeer pardoned

President General Pervez Musharraf has pardoned Dr Abdul Qadeer Khan for his confession of passing on the nuclear secrets to Iran and Libya.
Published 06 Feb, 2004 12:00am
Pakistan and Iran vow to achieve $1 billion mutual trade

Pakistan and Iran vow to achieve $1 billion mutual trade

Pakistan and Iran have vowed to achieve one billion dollar mutual trade target through reduction in tariff and customs facilitation at border check- posts. The target was announced by Prime Minister Jamali during his visit to Iran.
Published 06 Feb, 2004 12:00am
Pakistan and Iran vow to achieve $1 billion mutual trade

Pakistan and Iran vow to achieve $1 billion mutual trade

Pakistan and Iran have vowed to achieve one billion dollar mutual trade target through reduction in tariff and customs facilitation at border check- posts. The target was announced by Prime Minister Jamali during his visit to Iran.
Published 06 Feb, 2004 12:00am
The Weather

The Weather

The weather report of Thursday (February 05) and the forecast for Friday (February 06, 2004).
Published 06 Feb, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Wednesday.
Published 06 Feb, 2004 12:00am
New York cotton

New York cotton

Closing prices of New York cotton in US cents/pound on Wednesday.
Published 06 Feb, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT on Thursday (February 05, 2004)
Published 06 Feb, 2004 12:00am
Textile Composite: Mahmood Textile Mills Limited - Year Ended 30-09-2003

Textile Composite: Mahmood Textile Mills Limited - Year Ended 30-09-2003

This textile unit of Muzaffargarh is one of the largest textile enterprises of the country. It is equipped with 65,280 spindles and 103 looms. Its subsidiary a power generation company, supplies power to its manufacturing facilities. Its financial backbon
Published 06 Feb, 2004 12:00am
Textile Composite: Mahmood Textile Mills Limited - Year Ended 30-09-2003

Textile Composite: Mahmood Textile Mills Limited - Year Ended 30-09-2003

This textile unit of Muzaffargarh is one of the largest textile enterprises of the country. It is equipped with 65,280 spindles and 103 looms. Its subsidiary a power generation company, supplies power to its manufacturing facilities. Its financial backbon
Published 06 Feb, 2004 12:00am
USDA announces world market rice prices

USDA announces world market rice prices

The US Agriculture Department's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for US milling yields and location, and the resulting marketing loan gain (MLG) and loan deficienc
Published 06 Feb, 2004 12:00am
Coffee futures fall in New York

Coffee futures fall in New York

CSCE coffee futures fell four percent to touch a two-week low Wednesday as commodity funds sold, reducing their record long position before the approach of first notice day, brokers said.
Published 06 Feb, 2004 12:00am
Speculators send New York cocoa lower

Speculators send New York cocoa lower

CSCE cocoa futures closed down on Wednesday after an erratic and choppy session, with speculators and arbitrage players capping an early rally that followed London's gains, brokers said.
Published 06 Feb, 2004 12:00am
Freight shifts Asia demand for US grain to PNW

Freight shifts Asia demand for US grain to PNW

US corn and soybean shipments to Asia are being switched to West Coast export terminals from loading stations at the Gulf of Mexico as soaring freight rates play havoc with grain transportation, traders said on Wednesday.
Published 06 Feb, 2004 12:00am
India clears Michelin investment

India clears Michelin investment

India approved on Thursday a proposal by Europe's biggest tyre maker, Michelin, to pick up a 14.9 percent stake in Indian tyre-maker Apollo Tyres Ltd for $71.44 million.
Published 06 Feb, 2004 12:00am
BoJ keeps policy unchanged

BoJ keeps policy unchanged

The Bank of Japan (BoJ) decided to keep its monetary policy unchanged on Thursday after a two-day Policy Board meeting, an outcome widely expected by markets after a surprise easing just two weeks ago.
Published 06 Feb, 2004 12:00am
PepsiCo profit rises

PepsiCo profit rises

PepsiCo Inc on Thursday said quarterly profit rose 30 percent as health-conscious consumers snapped up diet soft drinks, bottled water and Gatorade.
Published 06 Feb, 2004 12:00am
PepsiCo profit rises

PepsiCo profit rises

PepsiCo Inc on Thursday said quarterly profit rose 30 percent as health-conscious consumers snapped up diet soft drinks, bottled water and Gatorade.
Published 06 Feb, 2004 12:00am
US productivity cools, jobless claims rise

US productivity cools, jobless claims rise

US business productivity rose at a slower-than-expected pace in the fourth quarter and at the lowest rate in a year and jobless claims rose unexpectedly last week, government reports showed on Thursday.
Published 06 Feb, 2004 12:00am
Germany unemployment and industrial orders up

Germany unemployment and industrial orders up

German unemployment unexpectedly rose in January, while industrial orders increased twice as much as expected in December in a sign that a recovery in Europe's biggest economy is not yet strong enough to spur hiring.
Published 06 Feb, 2004 12:00am
Deutsche Bank ends Citi talks, targets profits boost

Deutsche Bank ends Citi talks, targets profits boost

Deutsche Bank has had merger talks with US bank Citigroup, it emerged on Thursday, as the German bank announced a new target to nearly double underlying pre-tax profits in 2004 after strong growth last year.
Published 06 Feb, 2004 12:00am
Deutsche Bank ends Citi talks, targets profits boost

Deutsche Bank ends Citi talks, targets profits boost

Deutsche Bank has had merger talks with US bank Citigroup, it emerged on Thursday, as the German bank announced a new target to nearly double underlying pre-tax profits in 2004 after strong growth last year.
Published 06 Feb, 2004 12:00am
BNP profits rise

BNP profits rise

BNP Paribas posted a 33-percent quarterly profit rise on Thursday as improved stock markets drove gains at securities businesses, but concerns the French bank could make a costly acquisition weighed on its shares.
Published 06 Feb, 2004 12:00am
BNP profits rise

BNP profits rise

BNP Paribas posted a 33-percent quarterly profit rise on Thursday as improved stock markets drove gains at securities businesses, but concerns the French bank could make a costly acquisition weighed on its shares.
Published 06 Feb, 2004 12:00am
BoE raises rates quarter point

BoE raises rates quarter point

The Bank of England raised interest rates a quarter percentage point on Thursday for the second time in three months, and economists predicted more hikes to cool the British economy starting in the spring.
Published 06 Feb, 2004 12:00am
BoE raises rates quarter point

BoE raises rates quarter point

The Bank of England raised interest rates a quarter percentage point on Thursday for the second time in three months, and economists predicted more hikes to cool the British economy starting in the spring.
Published 06 Feb, 2004 12:00am
French consumers and industry upbeat in first quarter

French consumers and industry upbeat in first quarter

French consumer confidence rose in January, and industry looked forward to a slight increase in demand in the first quarter of this year as a gradual recovery takes hold in the eurozone's second largest economy.
Published 06 Feb, 2004 12:00am
Shell reserves row shades results; chairman stays

Shell reserves row shades results; chairman stays

Royal Dutch/Shell's beleaguered boss insisted on Thursday he would not resign over a shock cut in oil reserves, as the Anglo-Dutch firm posted fourth-quarter profits towards the bottom of forecasts.
Published 06 Feb, 2004 12:00am
Shell reserves row shades results; chairman stays

Shell reserves row shades results; chairman stays

Royal Dutch/Shell's beleaguered boss insisted on Thursday he would not resign over a shock cut in oil reserves, as the Anglo-Dutch firm posted fourth-quarter profits towards the bottom of forecasts.
Published 06 Feb, 2004 12:00am
ECB stresses foreign exchange stability after holding rates

ECB stresses foreign exchange stability after holding rates

European Central Bank chief Jean-Claude Trichet said on Thursday the bank was worried about excessive moves in foreign exchange rates but would not be drawn on what Group of Seven policymakers might say on the matter.
Published 06 Feb, 2004 12:00am
ECB stresses foreign exchange stability after holding rates

ECB stresses foreign exchange stability after holding rates

European Central Bank chief Jean-Claude Trichet said on Thursday the bank was worried about excessive moves in foreign exchange rates but would not be drawn on what Group of Seven policymakers might say on the matter.
Published 06 Feb, 2004 12:00am
Nokia to build GSM network in Iraq

Nokia to build GSM network in Iraq

Finnish telecom equipment maker Nokia said on Thursday it would supply a GSM-standard mobile phone network to operator Atheer Telecom in Iraq.
Published 06 Feb, 2004 12:00am
Alcatel posts narrower loss

Alcatel posts narrower loss

Europe's largest communications equipment firm Alcatel posted a much narrower quarterly loss on Thursday thanks to stronger demand and cost cuts, and said sales would grow in 2004 after falling for three years.
Published 06 Feb, 2004 12:00am
Microsoft to expand Xbox Live in Asia

Microsoft to expand Xbox Live in Asia

Microsoft Corp said on Thursday it would kick off its Xbox Live online gaming service in Taiwan, Hong Kong and Singapore in April, making inroads into Asian markets dominated by Sony's PlayStation 2 console.
Published 06 Feb, 2004 12:00am
Bosnia adopts economic development plan

Bosnia adopts economic development plan

Bosnia on Thursday adopted an ambitious four-year development strategy that aims to eliminate dependency on foreign aid, help it get closer to the European Union and reduce widespread poverty and unemployment.
Published 06 Feb, 2004 12:00am
Australian wool gains

Australian wool gains

The Australian Wool Exchange (AWEX) said on Thursday its eastern market indicator (EMI) rose three cents to 793 cents a kg clean at sales in Sydney, Melbourne and Fremantle.
Published 06 Feb, 2004 12:00am
Rubber moves little in Tokyo

Rubber moves little in Tokyo

Tokyo rubber futures barely moved on Thursday as the market looked for fresh direction.
Published 06 Feb, 2004 12:00am
Tocom gold up on New York in light trade

Tocom gold up on New York in light trade

Tokyo gold futures rose on Thursday on the back of firmer gold prices in New York, but trade was slow ahead of the Group of Seven (G7) finance ministers' meeting this week.
Published 06 Feb, 2004 12:00am
Oil steady in Asian markets

Oil steady in Asian markets

Oil prices steadied on Thursday after a wave of selling triggered by data showing a surprise rise in US crude stocks that eased worries about falling supplies in the world's biggest energy market.
Published 06 Feb, 2004 12:00am
Comex gold firm on subdued trade

Comex gold firm on subdued trade

COMEX gold firmed on Wednesday in subdued trade as investors awaited a meeting of finance ministers from the world's richest economies Friday for possible comments on the strong euro or renewal of a central bank gold sales pact.
Published 06 Feb, 2004 12:00am
Gold sails just above $400 in Asia

Gold sails just above $400 in Asia

Spot gold traded quietly just above $400 an ounce in Asia on Thursday, waiting for the outcome of this week's meeting of the Group of Seven industrial nations that could provide fresh upward momentum for the metal.
Published 06 Feb, 2004 12:00am
Asian cocoa: US buyers return to Sulawesi

Asian cocoa: US buyers return to Sulawesi

At least 20,000 tonnes of cocoa beans are set to leave for the United States this month from Sulawesi, marking the return of the main buyer to Indonesia's key growing area after a two-month absence, traders said on Thursday.
Published 06 Feb, 2004 12:00am
New York copper rises

New York copper rises

Comex copper futures closed at a new 6-1/2-year high on Wednesday, with strikes at mines in Chile and Canada threatening supplies and rising US factory orders adding to demand for the metal.
Published 06 Feb, 2004 12:00am
Shanghai copper higher

Shanghai copper higher

Shanghai copper futures racked up record highs for the second successive day on Thursday as local contract prices tracked fund buying on the London Metal Exchange, traders said.
Published 06 Feb, 2004 12:00am
US cotton sales to surge as China returns from holiday

US cotton sales to surge as China returns from holiday

The US cotton sales will jump with the return of leading importer China from Lunar New Year celebrations when the weekly USDA export report is handed out Thursday, cotton brokers said.
Published 06 Feb, 2004 12:00am
Thai rice prices steady

Thai rice prices steady

Thai rice prices held steady on Thursday, but they are likely to climb in the next few days on strong overseas demand, traders said.
Published 06 Feb, 2004 12:00am
CBOT soyabean futures end mixed

CBOT soyabean futures end mixed

Chicago Board of Trade soyabean futures ended mixed on Wednesday, with nearby contracts supported by firm US cash values and commercial spreading of March/May soyabeans, brokers said.
Published 06 Feb, 2004 12:00am
India to cut vegetable oil imports

India to cut vegetable oil imports

India, the world's top edible oil buyer, is likely to cut purchases by about 10 percent from a year ago in the quarter ending in April as a bumper summer crop is seen lifting domestic supplies, traders said on Thursday.
Published 06 Feb, 2004 12:00am
CSCE sugar futures end easier

CSCE sugar futures end easier

CSCE raw sugar futures ended softer on Wednesday on light speculative sales in range-bound business, with most of the running in the market taken up by players engaged in switch trades, brokers said.
Published 06 Feb, 2004 12:00am
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