News Archives for Print - 2004-03-22

This engineering enterprise of Hattar NWFP has been able to maintain rising trend in sales. During the year under review the company more than double its revenue which was obtained from fabrication and maintenance services.

Published 22 Mar, 2004 12:00am

Engineering: ADOS PAKISTAN LIMITED - Year Ended 30-06-2003

Published 22 Mar, 2004 12:00am

Bangladesh interbank foreign exchange and interest rates

Interbank buy/sell rates for the taka against the dollar on Sunday: 58.95/59.00 (previous 58.95/59.00).

Published 22 Mar, 2004 12:00am

Egypt pound weaker on black market

The Egyptian pound weakened against the dollar on the black market, market sources said on Sunday, after rumours that the central bank was selling dollars to support the currency proved untrue.

Published 22 Mar, 2004 12:00am

Cairo shares end mixed, EAB in focus

Egyptian shares ended mixed on Sunday in low volumes, traders said, but Egyptian American Bank (EAB) posted 2003 net profit double the previous year, boosting its shares.

Published 22 Mar, 2004 12:00am

Taiwan stocks seen sliding on poll crisis

Taiwan stocks are expected to slide three percent on Monday, as investors flee political uncertainty after a razor-thin election result that prompted a call for a recount and sent protesters onto the streets.

Published 22 Mar, 2004 12:00am

Taiwan's poll turmoil to weigh on Hong Kong stocks

Lingering uncertainties over Taiwan's election and security fears world-wide are expected to discourage investors and weigh on Hong Kong shares this week.

Published 22 Mar, 2004 12:00am

Indian shares seen rising cautiously

Indian shares are seen trending upwards this week after a fortnight of weakness, with the end of a spate of government equity issues that has been drawing off demand, traders said.

Published 22 Mar, 2004 12:00am

Gilt market to pore through MPC's testimony

The UK gilts market, jittery over the increasing prospect of a April rate hike, will look to the Monetary Policy Committee members' testimony next week for clues on how soon rates will have to rise to curb consumption.

Published 22 Mar, 2004 12:00am

Gilt market to pore through MPC's testimony

Published 22 Mar, 2004 12:00am

Next may bring some cheer to UK market

Results from clothing chain Next may bring some cheer to the retail sector this week, although the broader market may be hemmed in by concerns over the economic recovery and growing global security risks.

Published 22 Mar, 2004 12:00am

Yen leads Asian march on US dollar

The Japanese yen strengthened against the dollar during the week, led by expectations Tokyo would soften its intervention, pulling other currencies up with it.

Published 22 Mar, 2004 12:00am

Eurostocks: markets likely to be steadier after roller-coaster ride

European investors go on mall-watch this week when Next, Woolworths and Inditex provide a litmus test of consumer confidence, crucial for keeping economic recovery on track.

Published 22 Mar, 2004 12:00am

Tokyo stocks to remain in range after rally

Japanese technology shares may suffer on Monday after Sanyo slashed its profit outlook, as the wider market takes a rest from recent rises and domestic investors stay sidelined ahead of the financial year-end.

Published 22 Mar, 2004 12:00am

Corcept plans IPO of five million shares

Corcept Therapeutics Inc on Friday said it plans an initial public offering of 5 million shares at an estimated price of $15 to $17 per share.

Published 22 Mar, 2004 12:00am

Beer, miners in limelight on South African markets

Beer and mining are expected to hog the limelight on the Johannesburg stock exchange this week, when the world's third largest brewer releases a trading update and Anglovaal Mining gives first half results.

Published 22 Mar, 2004 12:00am

US stocks set to churn as attack fears hover

US stocks look set to stay locked in a volatile mode this week as investors keep a wary eye on security threats around the world and scan corporate announcements for hints on first-quarter profits.

Published 22 Mar, 2004 12:00am

Maruti plans to hike car prices

Maruti Udyog Ltd, India's largest carmaker, plans to hike prices to offset higher raw material costs, mainly steel, a company official said on Sunday.

Published 22 Mar, 2004 12:00am

Putin's second term could weigh on economy

After four years of oil-fuelled boom, Vladimir Putin's landslide re-election sent stock prices soaring with investors cheering his strong rule, but there are fears that the Russian leader's tsar-like powers could weigh on the economy.

Published 22 Mar, 2004 12:00am

Ifo index key as market eyes ECB interest rates cut

The week ahead sees the spotlight turn to Germany's key Ifo business sentiment survey as worries about the euro zone's sluggish recovery grow - cementing perceptions that interest rates may fall soon.

Published 22 Mar, 2004 12:00am

Nigeria launches economic reform programme

Five years after Nigeria emerged from the stifling grip of military rule, the west African giant has finally launched an ambitious programme of economic reform, to the delight of international financial bodies, who see a chance to arrest the region's slid

Published 22 Mar, 2004 12:00am

Australia focuses on trade deals amid stalled WTO talks

Australia has abandoned its position as a global free trade pioneer to pursue one-off deals with its major export partners as negotiators meet in Geneva this week to revive stalled World Trade Organisation (WTO) talks on agriculture.

Published 22 Mar, 2004 12:00am

South Korean banks' 2003 profit slumps, outlook rosy

Credit card defaults and a corporate fraud more than halved combined profits at South Korean banks including the country's top lender Kookmin Bank in 2003, but profits should more than quadruple in 2004 as the economy recovers, a financial regulator said

Published 22 Mar, 2004 12:00am

South Korean banks' 2003 profit slumps, outlook rosy

Published 22 Mar, 2004 12:00am

Deflation remains a risk in China, economist warns

China should not ignore the risk of falling prices, or deflation, despite a trend in recent months for rising consumer prices, state media reported Sunday, citing a ranking government economist.

Published 22 Mar, 2004 12:00am

Global 2015 poverty targets may slip: World Bank

The world will not meet its poverty reduction targets by 2015 unless it steps up its commitment to provide health, education and sanitation to the very poor, a World Bank development expert said on Thursday.

Published 22 Mar, 2004 12:00am

Chinese bet on yuan rise; central bank stands firm

Many Chinese expect a revaluation of their much-debated currency any day, but it is precisely because of those expectations that the central bank might not do anything at all - for now.

Published 22 Mar, 2004 12:00am

Saudi Arabia worried by high oil prices, Opec policy not yet set

Opec power Saudi Arabia is concerned by high oil prices but said speculators and tight stockpiles of US gasoline are driving the market rally, Italy's leading financial newspaper said on Sunday.

Published 22 Mar, 2004 12:00am

Belgian consumer confidence retreats in March

Consumer confidence in Belgium made a slight retreat in March amid concerns about the economy, the job market and the ability to save money, according to the country's central bank.

Published 22 Mar, 2004 12:00am

Qatar kicks off international gas gathering

Qatar, with ambitions to be the world's largest producer of liquefied natural gas (LNG), kicked off a conference here Sunday bringing together major global players in the industry.

Published 22 Mar, 2004 12:00am

US soldiers charged with abuses still on duty

Six US military police charged with an array of abuses at one of Saddam Hussein's most notorious jails remain on active duty in Iraq although they no longer have contact with prisoners, a coalition commander said Sunday.

Published 22 Mar, 2004 12:00am

Schroeder vows to push reforms as quits party role

German Chancellor Gerhard Schroeder vowed to press ahead with unpopular reforms on Sunday as he bowed out as party leader of his Social Democrats.

Published 22 Mar, 2004 12:00am

New book implicates France in Rwandan genocide

French authorities had a hand in Rwanda's 1994 genocide by helping train soldiers of the Hutu regime in power at the time, a new book by a French journalist says.

Published 22 Mar, 2004 12:00am

Turkey calls on EU for guarantees on Cyprus deal

Turkey said Sunday that a European Union guarantee for the protection of the clauses in a possible settlement over Cyprus was an indispensable condition in last-ditch efforts to reunify the island.

Published 22 Mar, 2004 12:00am

Pull out from Iraq looks inevitable: Zapatero

Spain's withdrawal from Iraq is all but inevitable, incoming Socialist leader Jose Luis Rodriguez Zapatero said in an interview on Sunday bound to disappoint Washington and stoke debate over the occupation.

Published 22 Mar, 2004 12:00am

Kuwait MPs reject vote for women in municipal polls

A parliamentary committee Sunday rejected a government proposal to grant disenfranchised Kuwaiti women the right to vote and stand as candidates in municipal elections, the head of the panel said.

Published 22 Mar, 2004 12:00am

Thousands take to streets to protest Hong Kong harbour reclamation

Thousands of chanting protesters lined Hong Kong's harbour Sunday in a protest at government plans to reclaim more of the city's famous waterway.

Published 22 Mar, 2004 12:00am

Rahul Gandhi to contest Indian election

Rahul Gandhi, son of assassinated former Indian prime minister Rajiv Gandhi, will contest in upcoming parliamentary elections, marking a new political generation from the Nehru-Gandhi dynasty, a Congress party leader said Sunday.

Published 22 Mar, 2004 12:00am

India may join international project on nuclear fusion

India is considering taking part in the ambitious international project to develop a nuclear fusion reactor, billed as a clean and inexhaustible source of energy, an official said on Sunday.

Published 22 Mar, 2004 12:00am

Ugandan army says kills 55 rebels near Sudan border

The Ugandan army said on Sunday it had killed 55 Lord's Resistance Army (LRA) rebels in several hours of intense battle with a group of fighters who were planning to attack civilian near the border with Sudan.

Published 22 Mar, 2004 12:00am

Germany pushes for better anti-terror co-ordination

German Interior Minister Otto Schily said on Sunday Europe needs to penetrate guerrilla groups and improve the co-ordination of anti-terror police work to prevent attacks like the Madrid bombings.

Published 22 Mar, 2004 12:00am

Kerry loses lead over Bush in new poll

Aggressive campaigning in combination with a slew of negative television advertisements has allowed President George W. Bush to pull even with Democratic presidential candidate John Kerry, according to a new opinion poll released Saturday.

Published 22 Mar, 2004 12:00am

Abizaid visits Oman

US Central Command chief General John Abizaid met here Sunday with the chief of staff of the sultanate's armed forces, General Ahmad bin Hareth bin Nasser al-Nabhani, the official ONA news agency announced.

Published 22 Mar, 2004 12:00am

Kosovo buries two Albanian children amid tense calm

Thousands of Kosovars on Sunday buried in silent grief two ethnic Albanian children whose alleged death at the hands of Serb attackers plunged the province into its worst violence since the end of the war five years ago.

Published 22 Mar, 2004 12:00am

Taiwan in turmoil as opposition cries foul over president's victory

Taiwan's High Court ordered ballot boxes to be sealed Sunday after the opposition disputed President Chen Shui-bian's election victory because of a mystery assassination attempt and spoiled ballots.

Published 22 Mar, 2004 12:00am

Saudi Arabia criticises US reform plans

Saudi Arabia's Foreign Minister Prince Saud al-Faisal on Sunday criticised US-led calls for reform in the Middle East and said Arab countries could tackle their problems by themselves.

Published 22 Mar, 2004 12:00am

Iraq war has not helped war on terror: Prodi

European Commission president Romano Prodi said the US-led war in Iraq has not made the world safer from terror attacks but that Europe and the United States must work together against terrorists.

Published 22 Mar, 2004 12:00am

French soldier killed in Haiti gun accident

A multinational force in revolt-torn Haiti suffered its first fatality when a French legionnaire died after a gun accidentally fired, the commanding general said on Sunday.

Published 22 Mar, 2004 12:00am

Malaysian ruling coalition wins elections

Malaysian government routed conservative opposition in elections on Sunday, winning an overwhelming mandate for its secular rule in one of the world's most developed Muslim states.

Published 22 Mar, 2004 12:00am

Developing world loses $40 billion a year from Western protectionism

The developing world loses 40 billion dollars worth of potential agricultural exports each year due to protectionism and subsidies by rich countries, a conference in Dhaka was told Sunday.

Published 22 Mar, 2004 12:00am

EU leaders set to revive constitution talks

European Union leaders are likely to agree this week to revive stalled talks on a constitution for the bloc and may set June 30 as a deadline for an agreement, diplomats said.

Published 22 Mar, 2004 12:00am

Coalition headquarters comes under attack in Iraq

At least one person was killed and several wounded Sunday as the US coalition headquarters in Baghdad came under rocket attack, in another act of violence that pushed Iraq into its second year of occupation.

Published 22 Mar, 2004 12:00am

A cousin to SARS, is found

Dutch scientists on Sunday announced they had uncovered a previously unknown virus, a cousin to SARS, that causes respiratory sickness and is likely to have spread around the world.

Published 22 Mar, 2004 12:00am

Israeli troops and Palestinians clash at barrier site

Israeli forces fired rubber-coated metal bullets and tear gas at stone-throwing Palestinians protesting on Sunday against a West Bank barrier.

Published 22 Mar, 2004 12:00am

Guantanamo Bay detainees providing intelligence: New York Times

Prisoners at the Guantanamo Bay detention centre have provided interrogators with intelligence over the last two years, including details about al Qaeda's chemical and biological weapons efforts and its use of charities as false fund-raising fronts, The N

Published 22 Mar, 2004 12:00am

Steel prices

Your editorial, "the rapidly rising steel prices," is most timely. There is no point in blaming Pakistan Steel Mills for increasing their prices.

Published 22 Mar, 2004 12:00am

Insiders trading

Pakistan Oilfields Limited half yearly financial results were announced on 23rd of February 2004, showing 1.24 billion rupees net after tax profit. This shows almost Rs 19 earning per share on an annual basis.

Published 22 Mar, 2004 12:00am

Palestinian town claims victory for non-violence

When Israel came to build its West Bank barrier among the olive groves of Budrus, villagers flocked to the fields to block its path.

Published 22 Mar, 2004 12:00am

Indonesian parties jostle for Java election prize

Operating from a rundown house with a small sign in front, Mardiono exudes the confidence of a politician who can smell power for his party ahead of Indonesia's parliamentary elections next month.

Published 22 Mar, 2004 12:00am

Taiwan polls widen ethnic divide

As Taipei subway trains pull to a stop, passengers hear a soft female voice announce the name of the next station in three Chinese dialects.

Published 22 Mar, 2004 12:00am

Wolfson fellowship

The Charles Wallace Pakistan Trust has proposed one to two fellowships for Pakistani journalists to be conducted at Wolfson College Cambridge, United Kingdom.

Published 22 Mar, 2004 12:00am

Cost of friendship with America

In the end-1940s /early 1950s, the first prime minister of Pakistan had invitations from both the USSR (ex) and the USA for paying official visit to those countries. However, the visit to USA did materialise.

Published 22 Mar, 2004 12:00am

Trade policy: some suggestions

The Sukkur Chamber of Commerce and Industry has chalked out the following proposals/suggestions in connection with the formulation of trade policy 2004-2005:

Published 22 Mar, 2004 12:00am

LTIA seeks arrest of dacoits

Lahore Township Industries Association (LTIA) has warned the government to arrest the dacoits involved in dacoity incident in a local ghee industry, otherwise industrialists from the Lahore Township industrial area would be forced to close down their unit

Published 22 Mar, 2004 12:00am

Power tariff and losses

Power tariff and losses often come under criticism in the media, in editorials, columns and articles as well. They say that electricity rates are higher in Pakistan than many other countries, a true criticism. No doubt, the higher the price of the energy

Published 22 Mar, 2004 12:00am

Onward with ATMs

The inter-connectivity of two ATM switches - MNET of the Muslim Commercial Bank and I-Link of ABN Amro Bank, that the State Bank Governor, Dr Ishrat Husain, formally inaugurated on March 16, will certainly go down as an epoch-making event in the history o

Published 22 Mar, 2004 12:00am

The right noises

Pakistan has been doing quite well in consolidating its fiscal position in the recent years.

Published 22 Mar, 2004 12:00am

Security plan chalked out for SAF games

About 1500 Rangers and 700 Frontier Constabulary security personnel will be called for the security assistance to capital police during the 9th SAF games to be held here from March 29 to April 7, 2004.

Published 22 Mar, 2004 12:00am

Sunil Shetty optimistic about friendly ties with Pakistan

Bollywood star Sunil Shetty has expressed the optimism that relations between India and Pakistan would become 'more close and friendly' with people-to-people contact and frequent exchange of delegations between the two countries.

Published 22 Mar, 2004 12:00am

Mishra watches Lahore ODI

Indian National Security Advisor Brajesh Mishra, who has been deeply involved in the recent steps towards normalisation of relations with Pakistan, Sunday watched the fourth one-day international day-night cricket match between the Pakistan and India here

Published 22 Mar, 2004 12:00am

Vajpayee pats cricket team

Prime Minister Atal Behari Vajpayee Sunday congratulated the Indian cricket team for its five-wicket victory against Pakistan in the fourth one-day international match in Lahore.

Published 22 Mar, 2004 12:00am

Matches being played in true spirit: Rashid

Federal Minister for Information and Broadcasting, Sheikh Rashid Ahmed said here Sunday that ongoing Pak-India cricket series was being contested in true spirit of the game and people around the globe are enjoying this thrilling cricket.

Published 22 Mar, 2004 12:00am

Kumble and Agarkar declared fit for Test series

Leg-spinner Anil Kumble has been declared fit to play in the upcoming Test series in Pakistan, a top Board of Control for Cricket in India (BCCI) official said on Sunday.

Published 22 Mar, 2004 12:00am

India level ODI series 2-2

Rahul Dravid and Mohammad Kaif struck unbeaten half-centuries to lead India to a fighting five-wicket win over Pakistan in the fourth one-day international on Sunday.

Published 22 Mar, 2004 12:00am

India level ODI series 2-2

Rahul Dravid and Mohammad Kaif struck unbeaten half-centuries to lead India to a fighting five-wicket win over Pakistan in the fourth one-day international on Sunday.

Published 22 Mar, 2004 12:00am

Chinese showing interest in Pakistani handicrafts

A large number of local residents and businessmen visited the handicrafts stall, set up at national art exhibition in Beijing this week, showing keen interest in the products, especially those made by marble and onyx.

Published 22 Mar, 2004 12:00am

Nadra plans to establish swift centres in foreign missions

Nadra is planning to establish swift centres in Pakistani foreign missions abroad to facilitate overseas Pakistanis to get registered with the authority, a press release issued said on Sunday.

Published 22 Mar, 2004 12:00am

Mangla Dam victims to be rehabilitated from May this year

The phased process for rehabilitation of the affectees of the gigantic Mangla Dam raising project coupled with initial work on the project, including formal survey to launch the construction work, will begin from May this year, said engineer Chaudhry Amir

Published 22 Mar, 2004 12:00am

World Water Day to be observed on March 22

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 25	277.83
USD PKR Interbank Buying / Nov 25	277.73
USD to Japanese Yen / Nov 25	154.29
USD to Swiss Franc / Nov 25	0.89
Pound Sterling to USD / Nov 25	1.26
Euro to USD / Nov 25	1.05

Stock	Volume
S&P 500 / Nov 22	5,969.34
Nasdaq / Nov 22	18,003.65
FTSE 100 / Nov 22	8,262.08
Dow Jones / Nov 22	44,296.51
Germany DAX 30 / Nov 22	19,322.59
France CAC40 / Nov 22	7,255.01
India Sensex / Nov 25	80,331.40
Tokyo Nikkei / Nov 25	38,933.62

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 22	17,785
Gold 10 Grams PKR / Nov 22	240,483
Petrol/Litre / Nov 25	248.38
Crude Oil USD/Barrel / Nov 25	70.68
Gold Spot USD/Ounce / Nov 25	2,664.27
Diesel/Litre / Nov 25	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 25 786 Investments Limited(786)	6.82 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 25 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▼ 0.00 (0.00%)
Agro Allianz / Nov 25 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 25 Ali Asghar Textile Mills Limited(AATM)	70.89 ▼ 0.00 (0.00%)
Allied Bank / Nov 25 Allied Bank Limited(ABL)	120.21 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 25 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▼ 0.00 (0.00%)
Abson Ind. / Nov 25 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 25 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 25 786 Investments Limited(786)	6.82 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 25 Al-Abbas Sugar Mills Limited(AABS)	593.76 ▲ 0.00 (0.00%)
Agro Allianz / Nov 25 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 25 Ali Asghar Textile Mills Limited(AATM)	70.89 ▲ 0.00 (0.00%)
Allied Bank / Nov 25 Allied Bank Limited(ABL)	120.21 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 25 Abbott Laboratories (Pakistan) Limited(ABOT)	1,023.10 ▲ 0.00 (0.00%)
Abson Ind. / Nov 25 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 25 Alfalah Consumer Index ETF.(ACIETF)	12.55 ▲ 0.00 (0.00%)

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

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