News Archives for Print - 2004-03-08

This gas exploration company's performance in both sales and production has reached new height. But exploration expenditure was much lower than preceding year's which would translate into simpler term as low exploration activity.

Published 08 Mar, 2004 12:00am

Bangladesh interbank foreign exchange and interest rates

Interbank buy/sell rates for the taka against the dollar on Sunday: 58.90/59.25 (previous 59.21/59.28).

Published 08 Mar, 2004 12:00am

Egypt interbank rate rises

The median overnight interbank rate on the Egyptian pound rose to 7-1/2 percent on Sunday from seven percent the previous session as dealers said a central bank deposit auction withdrew some cash from the market.

Published 08 Mar, 2004 12:00am

Banks and OCI lift Cairo shares higher

Banks led Egyptian shares to close higher on Sunday after a strengthening Egyptian pound on the black market raised expectations the official market may attract more dollars and boost business in banks, traders said.

Published 08 Mar, 2004 12:00am

Indian shares seen rising on ONGC offer success

Indian shares are seen rising for a second straight week, with sentiment boosted by a swift and overwhelming response on day one of the nation's biggest public offer, traders said.

Published 08 Mar, 2004 12:00am

Hong Kong shares to hold steady before results and IPOs

Hong Kong stocks are expected to hug current levels this week ahead of key earnings reports, including results from the city's biggest property developer, Sun Hung Kai, and a batch of new share offerings.

Published 08 Mar, 2004 12:00am

Tokyo stocks expected to make modest headway

Tokyo stocks are expected to post modest gains this week after another run of strong economic data spurred heavy buying last week to drive up the Nikkei average four percent to a 21-month high.

Published 08 Mar, 2004 12:00am

Germany mulls issue of more short-term bonds

The German Finance Ministry is considering issuing short-term bonds as part of a shake-up of its debt management and to try to reduce the cost of debt servicing, Der Spiegel magazine reported at the weekend.

Published 08 Mar, 2004 12:00am

Germany mulls issue of more short-term bonds

Published 08 Mar, 2004 12:00am

Taiwan stocks seen lower on pre-election caution

Taiwan's stock market, Asia's best performing so far this year, is expected to fall this week on profit taking and caution ahead of a presidential election.

Published 08 Mar, 2004 12:00am

South African stocks week ahead: Sasol and Stanbank in focus

South African energy group Sasol is due to post weak results this week, but Standard Bank profits should jump as the wider stock market consolidates following hefty gains in recent months.

Published 08 Mar, 2004 12:00am

Dollar resurgence sends Asian currencies tumbling

Asian currencies fell across the board over the week as hopes of a recovery in the US economy sparked a resurgence of the US dollar.

Published 08 Mar, 2004 12:00am

Malaysian MIDF to buy bank for 150 million ringgit

Malaysian International Development Finance Bhd (MIDF), will buy the merchant banking arm of Utama Banking Group Bhd for 150 million ringgit, or $39.5 million, a business weekly reported on Sunday.

Published 08 Mar, 2004 12:00am

All eyes on Lloyds in FTSE-100 this week

Britain's blue-chip index, which is due for a quarterly reshuffle on Wednesday, will focus on results from UK bank Lloyds TSB this week as investors count the cost of Friday's disappointing US jobs data.

Published 08 Mar, 2004 12:00am

UK gilts to watch manufacturing, trade data

British government bond investors will look to producer prices, manufacturing output and export data for trading direction this week after enjoying a strong boost from extremely weak US jobs numbers on Friday.

Published 08 Mar, 2004 12:00am

UK gilts to watch manufacturing, trade data

Published 08 Mar, 2004 12:00am

US stocks to ride see-saw before earning outlooks

US stocks are expected to chop along next week near current levels, as investors look to a handful of earnings reports, including results from software company Oracle Corp, and economic data for some clue to the market's next step.

Published 08 Mar, 2004 12:00am

Lebanon foreign currency reserves down

Lebanon's gross foreign currency reserves slipped to the equivalent of $12.53 billion at the end of February from $12.56 billion two weeks earlier, the central bank said on Sunday.

Published 08 Mar, 2004 12:00am

Nepal may miss growth target

Nepal's economy has shown signs of an upswing, despite an expanding Maoist revolt, Prime Minister Surya Bahadur Thapa said, although officials said the nation would not hit its six percent growth target.

Published 08 Mar, 2004 12:00am

German opposition seeks pact on growth measures

Germany's opposition parties were trying to agree on Sunday on joint positions for a series of reforms on taxes, the labour market and wage negotiations.

Published 08 Mar, 2004 12:00am

US authorities pass Iraq Central Bank law

The US administration in Iraq said on Sunday it had passed a new law governing the Central Bank of Iraq which establishes price stability as the main objective of the independent institution.

Published 08 Mar, 2004 12:00am

Oil production starts at new field in southern Oman

Petroleum Development Oman has begun producing oil from the southern Zalzala field, PDO's first multi-well field to come on stream in the last four years.

Published 08 Mar, 2004 12:00am

New Iraq contracts to be awarded this week

The US office managing rebuilding funds in Iraq will start awarding five billion dollars worth of contracts this week, a senior US official said Sunday, to firms from countries that supported the war effort.

Published 08 Mar, 2004 12:00am

Energy firm plans UK IPO for Bangladesh power plan

Asia Energy Plc, the owner of a coal mine project in Bangladesh that aims to ease the country's power shortages, said on Sunday it planned to raise about 15 million pounds ($27 million) by listing its shares in London.

Published 08 Mar, 2004 12:00am

Energy firm plans UK IPO for Bangladesh power plan

Published 08 Mar, 2004 12:00am

Thorny farm issues a key challenge in regional free-trade talks

Overcoming thorny farm issues will be a key challenge as the United States and Japan take on their developing Southeast Asian allies in free-trade negotiations, analysts said.

Published 08 Mar, 2004 12:00am

Poor states fail to take advantage of WTO accord on AIDS drugs

Poor countries that fought to be able to import generic prescription drugs have failed to use changes to the WTO rules on intellectual property rights, reviving a row over who is to blame for the lack of treatment for millions of AIDS sufferers.

Published 08 Mar, 2004 12:00am

Barclays to bid for Telegraph, not all of Hollinger

British tycoons David and Frederick Barclay, who unsuccessfully tried to buy control of Daily Telegraph publisher Hollinger International from press baron Conrad Black, said on Sunday they still plan to bid for the UK newspaper.

Published 08 Mar, 2004 12:00am

Riyadh signs gas deals with Russian, Chinese, Spanish and Italian firms

Saudi Arabia signed upstream gas exploration and production agreements with Russian giant Lukoil on Sunday as Chinese, Spanish and Italian firms waited their turn to ink deals later in the day that the kingdom hopes will attract billions of dollars in inv

Published 08 Mar, 2004 12:00am

Turkish trade minister in Syria

Syrian President Bashar al-Assad held talks Sunday with Turkish Trade Minister Kursat Tuzmen, visiting Damascus on a mission to promote economic ties and discuss the creation of a free-trade zone.

Published 08 Mar, 2004 12:00am

How China's boom is choking ports globally

China's thirst for raw materials is so strong that it is causing port congestion as far away as Australia, Brazil and West Africa.

Published 08 Mar, 2004 12:00am

Russian Arctic researchers return home

Russian scientists rescued from an Arctic research station flew home to a hero's welcome Sunday, days after narrowly escaping death when nearly all of their station sank beneath a wall of ice.

Published 08 Mar, 2004 12:00am

Afghan journalist held for links with Taleban

An Afghan journalist was held for questioning by US-led troops after he was arrested by Afghan military forces for allegedly having links with the ousted Taleban in south-eastern Afghanistan, an officials said.

Published 08 Mar, 2004 12:00am

Conservatives set to win Greek election

Greek conservatives were poised to easily win a general election on Sunday, returning to power after 11 years of socialist rule, first exit polls showed.

Published 08 Mar, 2004 12:00am

China plans to send woman into space

After sending its first man into space, China now aims to put its first woman into orbit, state media said Sunday in a report apparently timed to coincide with International Women's Day.

Published 08 Mar, 2004 12:00am

Finland tops in Europe for wife-beating

Finland may be best-known for its cutting-edge technology, lavish welfare system and strong gender equality record, but research also shows that the Nordic country tops EU statistics for violence against women.

Published 08 Mar, 2004 12:00am

Britain and US to combat simultaneous terror attack

Britain and the United States are planning an exercise to combat a simultaneous terror attack in both countries, a scenario ministers says their security services believe is a real possibility.

Published 08 Mar, 2004 12:00am

ANC has no plans to change constitution: Mbeki

President Thabo Mbeki on Sunday dismissed opposition fears that South Africa's ruling ANC could amend the constitution to perpetuate itself in power if it wins a two-thirds majority in elections next month.

Published 08 Mar, 2004 12:00am

Clare Short, an opinionated woman and a thorn in Blair's side

Former British cabinet minister Clare Short, who dropped a bombshell when she claimed Britain spied on UN Secretary General Kofi Annan, is a fiercely independent left-winger who has become a thorn in Prime Minister Tony Blair's side.

Published 08 Mar, 2004 12:00am

Austrian Haider set to win poll

Austrian far-right figurehead Joerg Haider's Freedom Party looked set to win a surprise victory in an election in the Alpine province of Carinthia, according to early returns.

Published 08 Mar, 2004 12:00am

UN stops paying demobilised soldiers after extortion revealed

The United Nations Mission for Afghanistan and the ministry of defence have stopped paying "demobilized" soldiers after extortion attempts by regional commanders, a United Nations spokesman said on Sunday.

Published 08 Mar, 2004 12:00am

50,000 feared homeless as tropical cyclone slams Madagascar

Tropical cyclone Galifo hit Madagascar Sunday, blasting powerful winds across the storm-ravaged north of the Indian Ocean island, as rescue officials said as many as 50,000 people could be left homeless.

Published 08 Mar, 2004 12:00am

Vajpayee urges communal peace as India celebrates Holi

Indian Prime Minister Atal Behari Vajpayee Sunday urged communal peace and harmony as millions of people in the Hindu majority country celebrated the boisterous festival of colours, Holi.

Published 08 Mar, 2004 12:00am

15 killed in Turkey floods, avalanches

Fifteen people have been killed in floods and avalanches triggered by torrential rains and melting snow over the past two days in eastern and south-east Turkey, Anatolia news agency reported.

Published 08 Mar, 2004 12:00am

Reformist and conservative lawmakers clash in Iran

Conservative and reformist legislators scuffled in Iran's parliament on Sunday after a reformist lawmaker called on a panel of clerics to examine the performance of Supreme Leader Ayatollah Ali Khamenei.

Published 08 Mar, 2004 12:00am

Sri Lanka on red alert for factional war

Sri Lankan troops were placed on alert Sunday as a renegade Tamil Tiger leader said he was being hunted by death squads and vowed to hit back, as the rival rebel camps purged subordinates whose loyalties were in doubt.

Published 08 Mar, 2004 12:00am

Iran calls on UN to finish nuclear probe

Iran called on Sunday for the UN's atomic watchdog to finish a 13-month probe of its nuclear programme and take the Islamic republic off the agency's agenda.

Published 08 Mar, 2004 12:00am

Anti-Aristide protesters hold demonstrations

Thousands of opposition supporters marched to Haiti's presidential palace Sunday morning, escorted by heavily armed US marines and French gendarmes, amid fears of clashes with a rival demonstration.

Published 08 Mar, 2004 12:00am

British and Irish prime minister's to hold Northern Ireland talks

British Prime Minister Tony Blair and his Irish counterpart Bertie Ahern will hold talks on Thursday aimed at re-launching the deadlocked Northern Ireland peace process, Ahern told Irish radio on Sunday.

Published 08 Mar, 2004 12:00am

US dispatches legal team to Iraq to prepare for genocide trials

The United States is dispatching a large team of prosecutors and other criminal justice experts to Iraq to prepare for likely genocide trials of Saddam Hussein and his closest associates, a justice official said late Saturday.

Published 08 Mar, 2004 12:00am

Seven high-school pupils killed in Vietnam bus crash

Seven teenagers were killed and 14 injured when a minibus carrying 22 high-school students collided head-on with a truck in southern Vietnam, police said Sunday.

Published 08 Mar, 2004 12:00am

Poll shows Kerry leading Bush in Florida

Democratic Senator John Kerry would defeat President George W. Bush in Florida if the US presidential election were held today, according to poll results published on Sunday.

Published 08 Mar, 2004 12:00am

Iraqi interim constitution likely to be signed on March 8

A long-delayed signing ceremony for Iraq's temporary constitution looks likely to go ahead Monday after a group of Shia Muslim leaders said they had ironed out concerns with the text over the weekend.

Published 08 Mar, 2004 12:00am

One killed, US soldiers arrest 27 Iraqis

A shootout between Iraqi police and gunmen Sunday claimed the life of one civilian and left another wounded here, police and medical sources said.

Published 08 Mar, 2004 12:00am

Blair and Mubarak hold talks on Arab reform

Egyptian President Hosni Mubarak met with British Prime Minister Tony Blair on Sunday for talks on the thorny issue of Arab reform.

Published 08 Mar, 2004 12:00am

Syria urges US to reconsider sanctions plan

Syria's economy minister urged the US administration on Sunday to reconsider plans to slap sanctions on Syria for backing Palestinian and Lebanese groups, and called for dialogue instead.

Published 08 Mar, 2004 12:00am

Hotel industry demands to be saved from dying

Hotel Industry is a significant contributor to national economy as it provides employment to thousands and earns millions in foreign currency despite step-motherly treatment extended to it.

Published 08 Mar, 2004 12:00am

Lahore Hospital Phase-II and III PCI approved

The Board of Management of the Lahore General Hospital on Sunday has approved PCI of Phase-II and III of the hospital.

Published 08 Mar, 2004 12:00am

BB and media

Of late Benazir Bhutto is showing visible signs of being under stress. The other day she snubbed PJ Mir interviewing her on the ARY for asking her as to why did she not clear her position regarding their Swiss Bank accounts.

Published 08 Mar, 2004 12:00am

Bureaucrats and PSO

"Reference news item titled "Pakistan State Oil: let us correct the record," appearing in your newspaper on 16th January, 2004, in response to an Article of 15th January, 2004 on "PSO Privatisation."

Published 08 Mar, 2004 12:00am

Dolce vita replaced by 'carovita' in glum Italy

Few Italians speak about "la dolce vita" these days. The "sweet life", when the majority could afford a good standard of living, has been soured by sharp price rises, leaving Italians grumbling about "il carovita" - the costly life.

Published 08 Mar, 2004 12:00am

Brazilian meat exports: strict sanitary controls

The recently reported cases of Bovine Spongiform Encephalopathy (BCE), popularly known as mad cow disease have brought about deep changes in the world meat market. At the same time, the position of the Brazilian suppliers has been strengthened, since they

Published 08 Mar, 2004 12:00am

Partly Facetious: Wana operation, a marriage of politics & terrorism!

"So we spend more on defence than on development expenditure."

Published 08 Mar, 2004 12:00am

Export under quality standards

World Trade Organisation (WTO hereinafter) convinced the whole world to adopt universal principles to harmonise international trade laws among the developed and developing member countries. But its rules are considered biased towards both the developed or

Published 08 Mar, 2004 12:00am

Institutional credit's impact on farm output

The three main factors that contribute to agricultural growth are the increased use of agricultural inputs, technological change and technical efficiency.

Published 08 Mar, 2004 12:00am

Vehicle smuggling in FATA

In a commendable decision, the Central Board of Revenue (CBR) has rejected a proposal that the Prime Minister's Secretariat and the NWFP Governor had sent it, asking for a new customs amnesty scheme for non-duty paid smuggled vehicles in the Federally Adm

Published 08 Mar, 2004 12:00am

Promoting Islamic banking

The push towards transforming Pakistan's banking industry according to the tenets of Islam or more commonly known as Riba-free economy has seen many ups and downs since the establishment of the country.

Published 08 Mar, 2004 12:00am

Jashan-e-Baharan opening ceremony postponed

Due to announcement of public gathering at hockey stadium here on March 11 the opening ceremony of Jashan-e-Baharan by Punjab Chief Minister Chaudhry Pervez Ilahi has been postponed.

Published 08 Mar, 2004 12:00am

Sellers lose further ground to buyers on cotton market

The Pakistan Cotton Ginners' Association (PCGA) has decided not to release fortnightly cotton report up to March1, and now, understandably, it may be released by the middle of this month.

Published 08 Mar, 2004 12:00am

Sellers lose further ground to buyers on cotton market

The Pakistan Cotton Ginners' Association (PCGA) has decided not to release fortnightly cotton report up to March1, and now, understandably, it may be released by the middle of this month.

Published 08 Mar, 2004 12:00am

Walk held in support of poultry industry

A large number SME poultry farmers and leaders of several trade associations participated in a walk held here on Sunday to show support to the poultry industry.

Published 08 Mar, 2004 12:00am

Pakistan on path of economic and industrial growth: minister

Federal Minister for Industries and Production Liaquat Jatoi has said that country is now on the path of economic and industrial growth which will help in eradication of unemployment, poverty and illiteracy.

Published 08 Mar, 2004 12:00am

Engineering Industry moot from March 12

An International Conference on Technology Up-gradation and Revamping in Engineering Industry is being held at Lahore from April 12 to 13, 2004. The exhibition of engineering materials, equipment, machinery and products is also being held in the exhibition

Published 08 Mar, 2004 12:00am

Punjab Tameer-e-Wattan Programme: RCB creates hurdles in execution work

Rawalpindi Cantonment Board (RCB) has not allowed the initiation of Punjab Tameer-e-Wattan Programme (PTWP) in its jurisdiction as a result of some legal obstacles. In spite of having funds of million of rupees the board could not start the development pr

Published 08 Mar, 2004 12:00am

'DHA projects to be completed as per schedule'

Defence Housing Authority (DHA) Administrator Brigadier Maqsood Hussain has said the recently launched development projects by the DHA were progressing as per the stipulated time schedule.

Published 08 Mar, 2004 12:00am

Wapda launches countrywide dues recovery drive

The Water and Power Development Authority (Wapda) has launched nation-wide campaign for the recovery of Rs 44,296 billion stuck up arrears from defaulters.

Published 08 Mar, 2004 12:00am

Export trophy function to be held in Rawalpindi

Export trophy function will be arranged to encourage industrialists, exporters and traders of the area to step up activities in order to strengthen the country's economy, said Hussain Ahmed Ozgen, President of Rawalpindi Chamber of Commerce and Industry (

Published 08 Mar, 2004 12:00am

'Thar coal project not hazardous to environment'

The Secretary Environment Sindh, Shujaat Ali Qarni has strongly negated the impact that Thar coal project has caused severe hazards for environment.

Published 08 Mar, 2004 12:00am

Sindh governor orders completion of rural water schemes

Sindh Governor, Dr Ishratul Ibad Khan has directed that all ongoing water supply schemes under Annual Development Programme (ADP), specially in the rural areas should be completed by end of June 2004.

Published 08 Mar, 2004 12:00am

Rs 710 million package for Rawalpindi, Kalar Syedan made Tehsil

Punjab Chief Minister Pervaiz Ellahi on Sunday announced a Rs 710 million package for Rawalpindi, besides making Kalar Syedan a Tehsil and approved appointment of 600 teachers to provide teachers to schools in Rawalpindi.

Published 08 Mar, 2004 12:00am

Wage earners badly hit by government's failure to control prices

Government's failure to regulate the prices of staple food and essential commodities has brought the wage earners to their knees.

Published 08 Mar, 2004 12:00am

Possibilities of using domestic iron ore at Pakistan Steel discussed

The Provincial Minister for Mines and Minerals, Government of Punjab, M. Sibtain Khan called on the Chairman Pakistan Steel (PS), Lieutenant General Abdul Qayyum (Retd) recently, at his office at Operations Building of Pakistan Steel and discussed possibi

Published 08 Mar, 2004 12:00am

Number of women journalists increased: KUJ

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 22	277.85
USD PKR Interbank Buying / Nov 22	277.65
USD to Japanese Yen / Nov 23	154.78
USD to Swiss Franc / Nov 23	0.89
Pound Sterling to USD / Nov 23	1.25
Euro to USD / Nov 23	1.04

Stock	Volume
S&P 500 / Nov 22	5,969.34
India Sensex / Nov 22	79,117.11
Tokyo Nikkei / Nov 22	38,283.85
Nasdaq / Nov 22	18,003.65
Hang Seng / Nov 22	19,229.97
FTSE 100 / Nov 22	8,262.08
Dow Jones / Nov 22	44,296.51
Germany DAX 30 / Nov 22	19,322.59

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 22	17,785
Gold 10 Grams PKR / Nov 22	240,483
Crude Oil USD/Barrel / Nov 23	71.24
Gold Spot USD/Ounce / Nov 23	2,716.19
Cotton US¢/pound / Nov 23	70.77
Petrol/Litre / Nov 24	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 24 786 Investments Limited(786)	6.82 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 24 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▼ 0.00 (0.00%)
Agro Allianz / Nov 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 24 Ali Asghar Textile Mills Limited(AATM)	70.89 ▼ 0.00 (0.00%)
Allied Bank / Nov 24 Allied Bank Limited(ABL)	120.21 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 24 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▼ 0.00 (0.00%)
Abson Ind. / Nov 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 24 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 24 786 Investments Limited(786)	6.82 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 24 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▲ 0.00 (0.00%)
Agro Allianz / Nov 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 24 Ali Asghar Textile Mills Limited(AATM)	70.89 ▲ 0.00 (0.00%)
Allied Bank / Nov 24 Allied Bank Limited(ABL)	120.21 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 24 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▲ 0.00 (0.00%)
Abson Ind. / Nov 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 24 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 24 Worldcall Telecom Limited(WTL)	177,135,830 ▲ 0.00
K-Electric Ltd. / Nov 24 K-Electric Limited(KEL)	124,131,268 ▲ 0.00
Hascol Petrol / Nov 24 Hascol Petroleum Limited(HASCOL)	105,013,176 ▲ 0.00
Fauji Foods Ltd / Nov 24 Fauji Foods Limited(FFL)	77,697,371 ▲ 0.00
Treet Battery / Nov 24 Treet Battery Limited(TBL)	43,783,366 ▲ 0.00
B.O.Punjab / Nov 24 The Bank of Punjab(BOP)	36,573,763 ▲ 0.00
Sui South Gas / Nov 24 Sui Southern Gas Company Limited(SSGC)	32,719,678 ▲ 0.00
PIA Holding Co.Ltd / Nov 24 PIA Holding Company Limited(PIAHCLA)	27,969,689 ▲ 0.00
Cnergyico PK / Nov 24 Cnergyico PK Limited(CNERGY)	25,874,820 ▲ 0.00

Markets →

Budget 2024-25: income tax calculator for FY25

Most Popular