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Print - 2004-03-27
Hitachi to boost 1-inch HDD output in Thailand

Hitachi to boost 1-inch HDD output in Thailand

Japanese electronics conglomerate Hitachi Ltd said on Friday its supply of 1.0-inch disk drives was running behind demand and that it would ramp up output at its Thailand plant as soon as possible.
Published 27 Mar, 2004 12:00am
Australian central bank says household debt poses risk

Australian central bank says household debt poses risk

Australia's financial system is in good shape, although high levels of household debt pose a risk and could "amplify" any slowing in the economy, the Reserve Bank of Australia (RBA) said on Thursday.
Published 27 Mar, 2004 12:00am
Argentina says poverty rate falls below 50 percent

Argentina says poverty rate falls below 50 percent

The number of people living in poverty in crisis-wracked Argentina fell below 50 percent in the second half of 2003 thanks to the economy's strong recovery, the government said on Thursday.
Published 27 Mar, 2004 12:00am
Latin American growth seen four percent

Latin American growth seen four percent

Latin America should show economic growth of 4 percent this year, up from 1.5 percent in 2003, as the region is buoyed by strength in the United States and Asia, the head of a UN body said on Thursday.
Published 27 Mar, 2004 12:00am
G7 statement on world currency policies clear: Japan

G7 statement on world currency policies clear: Japan

Japan's top financial diplomat said on Friday a Group of Seven joint statement last month was clear enough on the countries' currency policies, suggesting he would seek no major change when the group next meets in April.
Published 27 Mar, 2004 12:00am
New Zealand's current account deficit narrows in fourth quarter

New Zealand's current account deficit narrows in fourth quarter

New Zealand's current account deficit narrowed in the fourth quarter to NZ$1.92 billion ($1.25 billion), for an annual deficit of NZ$5.94 billion in the year to December, according to official data released on Thursday.
Published 27 Mar, 2004 12:00am
Thai economy seen growing 7.4 percent

Thai economy seen growing 7.4 percent

Thailand's economy is projected to grow 7.4 percent in the first quarter of this year, Finance Minister Somkid Jatusripitak said on Friday, an estimate down from a projection of 7.7-8.1 percent by his ministry in February.
Published 27 Mar, 2004 12:00am
Venezuela sells $1.5 billion in second hybrid bonds issue

Venezuela sells $1.5 billion in second hybrid bonds issue

Venezuela sold $1.5 billion of mixed dollar- and bolivar-denominated bonds, its second issue this month, as it continued a program to refinance its public debt, the Finance Ministry said on Thursday.
Published 27 Mar, 2004 12:00am
Venezuela sells $1.5 billion in second hybrid bonds issue

Venezuela sells $1.5 billion in second hybrid bonds issue

Venezuela sold $1.5 billion of mixed dollar- and bolivar-denominated bonds, its second issue this month, as it continued a program to refinance its public debt, the Finance Ministry said on Thursday.
Published 27 Mar, 2004 12:00am
EU ministers pick Paramo for ECB, no IMF decision

EU ministers pick Paramo for ECB, no IMF decision

European Union finance ministers on Thursday selected Spanish academic Jose Manuel Gonzalez-Paramo for a top European Central Bank post but delayed the second thorny issue of naming a possible IMF head.
Published 27 Mar, 2004 12:00am
US Treasuries mostly ease on hint of inflation

US Treasuries mostly ease on hint of inflation

Most US Treasuries ticked lower on Thursday after data hinting that inflation may be on the rise put a small dent in the market's confidence the Federal Reserve will not raise interest rates any time soon.
Published 27 Mar, 2004 12:00am
US Treasuries mostly ease on hint of inflation

US Treasuries mostly ease on hint of inflation

Most US Treasuries ticked lower on Thursday after data hinting that inflation may be on the rise put a small dent in the market's confidence the Federal Reserve will not raise interest rates any time soon.
Published 27 Mar, 2004 12:00am
Taiwan stocks down over dispute muzzled sentiment

Taiwan stocks down over dispute muzzled sentiment

Taiwan stocks closed the week on Friday down ten percent as a continuing election dispute muzzled sentiment, while a Nasdaq rally gave investors confidence to buy tech shares like AU Optronics.
Published 27 Mar, 2004 12:00am
Hong Kong stocks finish lower

Hong Kong stocks finish lower

Hong Kong stocks closed at fresh lows for the year on Friday as investors were spooked by a weak earnings report from telephone giant China Unicom and worried about political uncertainty in Taiwan.
Published 27 Mar, 2004 12:00am
US stocks soar, Dow in biggest rise in six months

US stocks soar, Dow in biggest rise in six months

Stocks soared on Thursday, sending the technology-packed Nasdaq on its biggest one-day climb in nine months, as bargain-hunting investors scooped up shares that were beaten down to year-lows.
Published 27 Mar, 2004 12:00am
Jakarta stocks fall on election jitters

Jakarta stocks fall on election jitters

Jakarta stocks fell on Friday amid concerns of possible campaign violence and organisational hiccups in the run up to parliamentary elections scheduled for April 5, analysts said.
Published 27 Mar, 2004 12:00am
Singapore shares mixed, factory output ignored

Singapore shares mixed, factory output ignored

Singapore shares were mixed in slow trade on Friday as United Overseas Bank and other blue chips slipped, shrugging off robust economic data and strong overseas markets.
Published 27 Mar, 2004 12:00am
Chinese equities close lower

Chinese equities close lower

Chinese shares closed slightly down on Friday as the government moved to tighten credit in an effort to prevent the economy from overheating, while blue chips gave up more of their recent gains, traders said.
Published 27 Mar, 2004 12:00am
Seoul shares close up over one percent, techs rally

Seoul shares close up over one percent, techs rally

South Korean shares ended more than one percent higher on Friday, as chip giant Samsung Electronics Co Ltd and other technology shares rallied after a healthy rebound on Wall Street.
Published 27 Mar, 2004 12:00am
Nikkei closes at 22-month high; buyers return to techs

Nikkei closes at 22-month high; buyers return to techs

Japan's Nikkei average rose two percent to end at a 22-month high on Friday as investors cheered by a rally on Wall Street returned to Tokyo Electron and other high-techs, brushing off the threat of a stronger yen.
Published 27 Mar, 2004 12:00am
Sri Lankan stocks edge lower

Sri Lankan stocks edge lower

Sri Lankan stocks ended down on Friday on selling in The Bukit Darah Co Ltd, but most blue chips edged higher on light retail buying one week from the island's general election.
Published 27 Mar, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US stocks edged higher on Friday as a stronger-than-expected consumer confidence report fed optimism and buyers were drawn to shares made cheaper by a steep slide in recent sessions.
Published 27 Mar, 2004 12:00am
Indian shares stay higher

Indian shares stay higher

Indian shares rose for the second day, as investors began buying into blue chip stocks ahead of the earnings season, when firms are seen reporting hefty profits. The reporting season for the March quarter kicks off next month.
Published 27 Mar, 2004 12:00am
European corporate bonds edge higher

European corporate bonds edge higher

European corporate bonds edged higher on Friday as investors focused on stocks ahead of crucial US jobs data due in coming days.
Published 27 Mar, 2004 12:00am
European corporate bonds edge higher

European corporate bonds edge higher

European corporate bonds edged higher on Friday as investors focused on stocks ahead of crucial US jobs data due in coming days.
Published 27 Mar, 2004 12:00am
Hong Kong dollar eases

Hong Kong dollar eases

The Hong Kong dollar inched lower and discounts on forwards narrowed on Friday as further losses on the stock market heightened worries that investment funds will flow out of the territory.
Published 27 Mar, 2004 12:00am
Chinese yuan notches stronger

Chinese yuan notches stronger

The yuan ended one notch stronger versus the dollar at 8.2770 on Friday, remaining near the stronger end of its managed trading range.
Published 27 Mar, 2004 12:00am
Swiss franc softer against dollar and euro

Swiss franc softer against dollar and euro

The Swiss franc continued to slide against the dollar in early trading on Friday and was softer against the euro as safe-haven positions taken in the wake of Madrid bombings earlier this month were unwound.
Published 27 Mar, 2004 12:00am
Dollar softer as market takes profits on euros

Dollar softer as market takes profits on euros

The dollar ended slightly weaker on Thursday as investors purchased euros and sold the US unit after the euro zone currency suffered several days of setbacks.
Published 27 Mar, 2004 12:00am
Asian currencies keep low profile as yen rallies

Asian currencies keep low profile as yen rallies

Asian currencies kept a low profile on Friday, ending mostly flat despite solid gains in the yen and a rally in technology shares as much of the region remained affected by political uncertainty.
Published 27 Mar, 2004 12:00am
Indian rupee fairly stable

Indian rupee fairly stable

The Indian rupee, which struck a 46-month closing high against the dollar on Friday, was fairly stable compared with other freely-floating international currencies, central bank Governor Y.V.Reddy said on Friday.
Published 27 Mar, 2004 12:00am
Pound rises strongly against dollar

Pound rises strongly against dollar

Sterling rose strongly against the dollar on Friday on the back of a narrower than expected UK current account deficit, which helped offset concerns over currency strength raised by the Bank of England.
Published 27 Mar, 2004 12:00am
Euro bounces off lows, yen on buoyant note

Euro bounces off lows, yen on buoyant note

The euro recovered from an earlier three-week low against the dollar on Friday as pre-weekend position adjustment outweighed the negative impact of rate cut speculation while upbeat Japanese data boosted the yen.
Published 27 Mar, 2004 12:00am
Sunday should be a day for God: Pope

Sunday should be a day for God: Pope

Pope John Paul on Friday said Sunday should be a day for God, not for secular diversions like entertainment and sports.
Published 27 Mar, 2004 12:00am
Russian to launch 'military-patriotic' channel

Russian to launch 'military-patriotic' channel

The Russian defence ministry plans to launch a "military-patriotic" nation-wide television channel called Zevzda, or Star, in a bid to boost the armed forces' profile in Russia, it said Friday.
Published 27 Mar, 2004 12:00am
20 killed in pre-poll attack on Nigerian town

20 killed in pre-poll attack on Nigerian town

At least 20 people were killed in an attack on a village in Nigeria's central highlands, a senior state official told reporters Friday on the eve of tense local elections.
Published 27 Mar, 2004 12:00am
Kurdish leaders vow to work for united Iraq

Kurdish leaders vow to work for united Iraq

Iraqi Kurdish leaders Massoud Barzani and Jalal Talabani Friday cast aside decades of rivalries at their first post-war reconciliation conference here, pledging to work for a united new Iraq.
Published 27 Mar, 2004 12:00am
Removing troops from Iraq a huge error: Aznar

Removing troops from Iraq a huge error: Aznar

Spain's outgoing leader, Jose Maria Aznar, insisted on Friday that a plan by his successor to withdraw Spanish troops from Iraq would be a huge blunder. "My view is that to remove Spanish troops from Iraq is a calamitous error for Spanish politics," Aznar
Published 27 Mar, 2004 12:00am
Germany launches probe into Madrid blast suspect

Germany launches probe into Madrid blast suspect

A Moroccan man arrested in Spain in connection with the Madrid train bombings is now the subject of a separate inquiry by German prosecutors probing his brief stay in the country, officials said on Friday.
Published 27 Mar, 2004 12:00am
Lankan Tigers declare war on renegade Commander

Lankan Tigers declare war on renegade Commander

Sri Lanka's Tamil Tigers vowed Friday to "get rid" of a renegade commander who led an unprecedented split among the rebels, triggering fears of a factional war amid an already faltering peace process.
Published 27 Mar, 2004 12:00am
Japan deports Chinese activists over isle row

Japan deports Chinese activists over isle row

In a move aimed at soothing frayed diplomatic ties, Japan on Friday deported seven Chinese arrested this week on a tiny island at the centre of a territorial row.
Published 27 Mar, 2004 12:00am
UN rights expert steps up pressure on Myanmar

UN rights expert steps up pressure on Myanmar

A UN human rights expert on Friday stepped up pressure on Myanmar's government to free all political prisoners, amid speculation that pro-democracy icon Aung San Suu Kyi could be released on April 16.
Published 27 Mar, 2004 12:00am
Chinese WW2 workers: Japan to pay compensation

Chinese WW2 workers: Japan to pay compensation

A Japanese court on Friday ordered the government and a transport firm to pay compensation to a group of Chinese who were forced to toil in Japan during World War Two in a rare ruling that could influence other claims.
Published 27 Mar, 2004 12:00am
Afghans to demobilise 40,000 militia

Afghans to demobilise 40,000 militia

Afghanistan is to launch an ambitious drive to improve security for elections by demobilising nearly 40,000 soldiers loyal to regional powerbrokers by June, the government said on Friday.
Published 27 Mar, 2004 12:00am
Man dies after walking three times to Makkah

Man dies after walking three times to Makkah

A 130-year-old man has died in Saudi Arabia after a life of eating only the fruit of his labour and making the pilgrimage to Makkah three times on foot, a newspaper reported Friday.
Published 27 Mar, 2004 12:00am
Israel restricts access to Al-Aqsa Mosque

Israel restricts access to Al-Aqsa Mosque

Israeli police have banned access to Jerusalem's Al-Aqsa Mosque compound to Palestinians under the age of 45, fearing disturbances during Friday prayers following the assassination of Hamas spiritual leader Sheikh Ahmed Yassin.
Published 27 Mar, 2004 12:00am
EU leaders rediscover unity in Madrid's shadow

EU leaders rediscover unity in Madrid's shadow

EU leaders rediscovered a spirit of unity on Friday after the Madrid bombings, agreeing to revive stalled constitution talks, boost joint action against terrorism and - less convincingly - pursue economic reform.
Published 27 Mar, 2004 12:00am
Nine killed in Turkish earthquake

Nine killed in Turkish earthquake

An earthquake measuring 5.1 on the Richter scale killed nine people and injured dozens more in an eastern region of Turkey late on Thursday.
Published 27 Mar, 2004 12:00am
US veto gives Israel licence to kill: Palestinians

US veto gives Israel licence to kill: Palestinians

Palestinians accused the United States on Friday of granting Israel a licence to kill by vetoing UN condemnation of its assassination of Hamas leader Sheikh Ahmed Yassin.
Published 27 Mar, 2004 12:00am
UN electoral team arrives in Iraq

UN electoral team arrives in Iraq

A UN electoral team arrived in Baghdad on Friday to study options for an interim Iraqi government when the US occupation ends this summer and advise on legalities in organising elections, the United Nations said.
Published 27 Mar, 2004 12:00am
EU presses for UN role in Iraq, resolution

EU presses for UN role in Iraq, resolution

The European Union called on Friday for the United Nations to be handed a "vital and growing" function in post-war Iraq's political transition and a Security Council resolution endorsing that role.
Published 27 Mar, 2004 12:00am
China and Taiwan in war of words over election dispute

China and Taiwan in war of words over election dispute

A war of words erupted on Friday between China and Taiwan, hours after Taiwan election authorities declared President Chen Shui-bian re-elected despite an office invasion by angry supporters of his narrowly defeated challenger.
Published 27 Mar, 2004 12:00am
9/11 events: Bush insists he had no advance warning

9/11 events: Bush insists he had no advance warning

US President George W. Bush insisted on Thursday he had no advance warning of the September 11, 2001 attacks and challenged the assertions of a former aide who accused him of not placing a high enough priority on pursuing al Qaeda prior to the tragedy.
Published 27 Mar, 2004 12:00am
No crisis with Russia over Nato expansion: US

No crisis with Russia over Nato expansion: US

The United States on Friday dismissed as public posturing Russian complaints about Nato's enlargement onto former Soviet soil and said there was no sense of a crisis between the Cold War foes.
Published 27 Mar, 2004 12:00am
Seven killed in Tikrit raid: US military

Seven killed in Tikrit raid: US military

Four Iraqi paramilitaries and three armed suspects were killed on Friday during a raid near Saddam Hussein's hometown of Tikrit, the US military said.
Published 27 Mar, 2004 12:00am
Nine killed as US troops battle rebels in Falluja

Nine killed as US troops battle rebels in Falluja

US forces fought running battles with insurgents in the Iraqi town of Falluja on Friday and a television cameraman and eight civilians, including three children, were killed, a hospital official said.
Published 27 Mar, 2004 12:00am
Higher Value Added Exporters

Higher Value Added Exporters

Following are the recipients of PRGMEA 6TH Export Excellence Awards for higher value added exporters.
Published 27 Mar, 2004 12:00am
Top Ten Exporters

Top Ten Exporters

Following are the top ten recipients of PRGMEA 6TH Export Excellence Awards.
Published 27 Mar, 2004 12:00am
Message from Chairman Prgmea

Message from Chairman Prgmea

By the grace of Allah and through the dedicated efforts of the Exports Excellence Award Committee, PRGMEA is organising the 6th Export Excellence Awards Ceremony.
Published 27 Mar, 2004 12:00am
Message from M/o State & Chairman EPB

Message from M/o State & Chairman EPB

I am pleased to learn that the Pakistan Readymade Garment Manufacturers & Exporters Association is organising the 6th Export Excellence Awards 2004 for the leading exporters of 2003.
Published 27 Mar, 2004 12:00am
Message from Minister for Commerce

Message from Minister for Commerce

It gives me immense pleasure to extend my felicitation to Pakistan Readymade Garments Manufacturers & Exporters Association for continuing its 6th Export Excellence Award Ceremony to confer awards on the leading exporters on the basis of their export perf
Published 27 Mar, 2004 12:00am
Message from Minister for Finance

Message from Minister for Finance

I am happy to learn that Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) is organising the 6th Export Excellence Award Ceremony 2004 to acknowledge services rendered by our garment exporters.
Published 27 Mar, 2004 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

I am glad to know that the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) is organising the 6th Export Excellence Award Ceremony 2004 to confer awards on the leading exporters in recognition of their excellent performance dur
Published 27 Mar, 2004 12:00am
Smeda holds meeting with ICIB organisers

Smeda holds meeting with ICIB organisers

Chairman of Small and Medium Enterprise Development Authority (Smeda) held a meeting with the organisers of the international conference on 'Investment Opportunities in Balochistan (ICIB) 2004' to be held in Quetta on May 8. A statement here on Friday sai
Published 27 Mar, 2004 12:00am
Askari examination boards on cards

Askari examination boards on cards

Education Minister Ms Zubaida Jalal has said that the changes in the current curricula of Pakistani schools was necessary to meet modern day challenges.
Published 27 Mar, 2004 12:00am
Pak Maktab School upgraded

Pak Maktab School upgraded

Pak Maktab School Ghulam Muhammadabad working under the arrangement of social welfare department Faisalabad has been upgraded and for that purpose social welfare department Punjab has accorded approval for the construction of an additional building with a
Published 27 Mar, 2004 12:00am
Austrian envoy meets NWFP health minister

Austrian envoy meets NWFP health minister

Dr Gunther Gallowitsch, Ambassador of Austria to Pakistan, called on NWFP Minister for Health Inyatullah here on Friday. Provincial secretary for health Dr Ihsanul Haq and chief of the Health Sector Reforms Unit (HSRU) Dr Mohammad Rafiq were also present
Published 27 Mar, 2004 12:00am
Police officials warned against misuse of powers

Police officials warned against misuse of powers

There would be absolutely no compromise on the misuse of powers and excesses and high-handedness committed to the general public by the police officials because the establishment of District Public Safety Commission was itself a challenge for its members
Published 27 Mar, 2004 12:00am
Private schools

Private schools

It is learnt that private schools are going to enhance their fee structure shortly.
Published 27 Mar, 2004 12:00am
Car-makers' mafia

Car-makers' mafia

A very strange and dangerous logic has been given by the car manufacturers' mafia.
Published 27 Mar, 2004 12:00am
Surge in steel prices creates waves in US auto sector

Surge in steel prices creates waves in US auto sector

Soaring steel prices have roiled the ranks of US auto suppliers, pushing some to the brink of bankruptcy, and threatening to disrupt the multi-billion dollar US automotive industry.
Published 27 Mar, 2004 12:00am
Cabinet decisions

Cabinet decisions

The Federal Cabinet at its meeting on Wednesday (March 24) approved a reduction in the rate of import duty or re-rollable scrap from the existing 25 percent to 10 percent with immediate effect.
Published 27 Mar, 2004 12:00am
After the payback time

After the payback time

While testifying before the 9/11 National Commission on Tuesday and Wednesday, senior American officials, past and present, acknowledged that the two sets of sanctions imposed on Pakistan during the last decade prevented successive US administrations from
Published 27 Mar, 2004 12:00am
BRIDGE NOTES: Calculated risk pays rich dividend

BRIDGE NOTES: Calculated risk pays rich dividend

There are occasions in duplicate bridge when the anchor pair of the team keeps a close watch on the score by sheer mental calculations with the performance at the table. In many cases it is not very difficult to assess the score on the basis of success an
Published 27 Mar, 2004 12:00am
Ganguly's injury not serious

Ganguly's injury not serious

Indian captain Saurav Ganguly remains doubtful for the first test against Pakistan starting on Sunday even though MRI scans have shown that his back injury is not serious, the team's media manager said.
Published 27 Mar, 2004 12:00am
TV REVIEW: Beginning with caution, as the canvas is vast

TV REVIEW: Beginning with caution, as the canvas is vast

My restless mind works like a TV set with multiple channels, as I begin this column. Unsure of how to begin, the stance, and mood to opt for. It is with an inner hesitation, caution, and humility that one seeks to tread in the days ahead.
Published 27 Mar, 2004 12:00am
India have edge in Test series: Gavaskar

India have edge in Test series: Gavaskar

Cricket legend Sunil Gavaskar Friday said India enjoyed a psychological edge going into their first Test series in almost 15 years on Pakistani soil.
Published 27 Mar, 2004 12:00am
Kumble back to renew battle

Kumble back to renew battle

India's Anil Kumble, who once took all 10 wickets in an innings against Pakistan, said on Friday he looked forward to renewing battle with the arch-rivals.
Published 27 Mar, 2004 12:00am
SPORTS WORLD: Scene shifts to Test matches

SPORTS WORLD: Scene shifts to Test matches

The one-day fiesta, which gave enjoyment and thrill to the cricket fans of the two neighbouring countries, thanks to the thaw in the strained relations between the arch-foes, is over. The matches are now history but many have the memory of the high-veloci
Published 27 Mar, 2004 12:00am
The series was not fixed: Imran

The series was not fixed: Imran

Rubbishing allegations of match fixing, former Pakistan captain turned politician Imran Khan said that the Indo-Pakistan ODI series was highly competitive and there could be no question about the integrity and genuineness of the five matches played in the
Published 27 Mar, 2004 12:00am
Hepatitis B and C emerging as global health problems

Hepatitis B and C emerging as global health problems

Liver is a vascular glandular organ in vertebrates that secretes bile, stores and filters blood, and takes part in many metabolic functions, for example, the conversion of sugar into glycogen. Hepatitis is the disease that targets liver and could give ris
Published 27 Mar, 2004 12:00am
Match-fixing rumours hit ticket sales

Match-fixing rumours hit ticket sales

Pakistan fans are reportedly showing less interest in buying tickets for the first Test between India and Pakistan to be played at Multan from March 28 to April 1 owing to rumours of match fixing.
Published 27 Mar, 2004 12:00am
And now comes Daler Mehndi

And now comes Daler Mehndi

Highlights of assorted cultural activities in Lahore included a dialogue between Pakistani and Indian students; visit to Kinnaird College for Women by old (Indian) students of the college; the formation of Pakistan-India Theatre Body; half-a-dozen exhibit
Published 27 Mar, 2004 12:00am
Pakistan to bounce back in Test series: Haroon

Pakistan to bounce back in Test series: Haroon

Cricket team manager Haroon Rasheed said on Friday that Pakistan would bounce back in the Test series after losing a very well contested live-match one day international series against India.
Published 27 Mar, 2004 12:00am
Through a child's eyes

Through a child's eyes

So here I am suffering from hypertension, kidney failure, lying waiting for the next session of dialysis in the children's hospital's ward. A network of tubes zigzag their way from my arms, crossing uncrossing, like the path of the Milky Way. Connecting m
Published 27 Mar, 2004 12:00am
Inzamam looking to continue magic touch in Multan

Inzamam looking to continue magic touch in Multan

Pakistan captain Inzamam-ul-Haq, who has scored centuries in his last two matches in his home town of Multan, wants to continue his good run in the first test against India starting on Sunday.
Published 27 Mar, 2004 12:00am
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