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Print - 2004-03-29
Your rupee last Week

Your rupee last Week

Following currency fluctuations took place in foreign exchange rates during the last Week. (March 22 - 27, 2004).
Published 29 Mar, 2004 12:00am
Cement: BESTWAY CEMENT LIMITED - Half Year Ended 31st December 2003

Cement: BESTWAY CEMENT LIMITED - Half Year Ended 31st December 2003

Bestway Cement Limited is a public limited company incorporated on December 22, 1993 under the companies ordinance 1984. It was listed at Karachi Stock Exchange on April 9, 2001. According to its last Annual Report of June 30, 2003, Bestway (Holdings) Lim
Published 29 Mar, 2004 12:00am
Cement: BESTWAY CEMENT LIMITED - Half Year Ended 31st December 2003

Cement: BESTWAY CEMENT LIMITED - Half Year Ended 31st December 2003

Bestway Cement Limited is a public limited company incorporated on December 22, 1993 under the companies ordinance 1984. It was listed at Karachi Stock Exchange on April 9, 2001. According to its last Annual Report of June 30, 2003, Bestway (Holdings) Lim
Published 29 Mar, 2004 12:00am
Malaysian economy braces for positive 2004

Malaysian economy braces for positive 2004

Malaysia is gearing up for a positive 2004, with the economy seen as growing at its fastest pace in four years to become one of Asia's top stars amid rising optimism after Prime Minister Abdullah Ahmad Badawi's landslide election victory, analysts say.
Published 29 Mar, 2004 12:00am
Argentina to sign $5 billion IADB loan

Argentina to sign $5 billion IADB loan

Argentina will sign a $5 billion loan agreement with the Inter-American Development Bank within two months, a spokesman for the Argentine Economy Ministry said on Saturday.
Published 29 Mar, 2004 12:00am
BoJ survey to show up trend: economists

BoJ survey to show up trend: economists

The Bank of Japan's quarterly survey of business sentiment, better known as the Tankan, is expected to show further improvement, backed by export-led economic recovery, economists said.
Published 29 Mar, 2004 12:00am
US pressures Opec to abandon output cut

US pressures Opec to abandon output cut

US President George W. Bush's administration is stepping up pressure on Opec to abandon an output cut as it grapples with a politically inflammable surge in energy prices.
Published 29 Mar, 2004 12:00am
Libya looks to foreign investors to lift oil output

Libya looks to foreign investors to lift oil output

Libya wants to raise its oil output capacity by a third by overhauling old fields and opening up new ones, but analysts point out that this will take both time and foreign investment - and may be hard to achieve before the Opec member's 2009 target.
Published 29 Mar, 2004 12:00am
Mauritius fights image of brand piracy

Mauritius fights image of brand piracy

As the Indian Ocean island of Mauritius nurtures a reputation for its textile manufacturing, tourism and financial services, authorities here are determined to shed the country's image as a haven for brand name piracy.
Published 29 Mar, 2004 12:00am
China to sew up Asian rivals when garment and textile quotas end

China to sew up Asian rivals when garment and textile quotas end

Many of Asia's poorest nations are unprepared for the imminent end of a quota system governing global textile and clothing exports with widespread job losses inevitable as companies shift operations to China, analysts and industry players say.
Published 29 Mar, 2004 12:00am
Iraqi inflation drops by half: minister

Iraqi inflation drops by half: minister

Iraq's inflation rate has dropped by half over the past three months, but crucial foreign aid is still being stifled by the continued fighting and US-led occupation, a minister said Sunday.
Published 29 Mar, 2004 12:00am
'Finland may miss jobs target'

'Finland may miss jobs target'

Finland could fall well short of its jobs aims, creating as few as 25,000 new jobs by the end of the parliamentary term against the government's target of 100,000, the prime minister said in a radio interview on Sunday.
Published 29 Mar, 2004 12:00am
Qatar sees $593 million budget deficit for 2004-05

Qatar sees $593 million budget deficit for 2004-05

Qatar approved a draft budget for 2004/2005 on Sunday which set state spending at 28.4 billion riyals ($7.8 billion) and forecast a gap of 2.16 billion riyals, up from a 1.7 billion riyal deficit the previous fiscal year.
Published 29 Mar, 2004 12:00am
Ivory Coast president says opposition must rejoin government

Ivory Coast president says opposition must rejoin government

Ivory Coast President Laurent Gbagbo insisted Sunday that the opposition rejoin the country's unity government, as his police chief announced an official inquiry into clashes last week between security forces and unarmed protestors that left at least 37 d
Published 29 Mar, 2004 12:00am
Kenya plans massive elephant translocation

Kenya plans massive elephant translocation

The Kenya Wildlife Service (KWS) announced Sunday it planned to move about 400 elephants from a reserve in the coastal region where they have been straying into human settlements and destroying crops.
Published 29 Mar, 2004 12:00am
Nepal's king aims for elections next year

Nepal's king aims for elections next year

Nepal's king, facing mounting criticism over his suspension of democracy, said on Sunday he aimed to hold long-delayed polls by April next year.
Published 29 Mar, 2004 12:00am
US administration bans Iraqi newspaper

US administration bans Iraqi newspaper

Iraq's US-led administration on Sunday shut down a newspaper that is a mouthpiece for radical Shia cleric Moqtada Sadr, accusing it of publishing articles that incite violence against American troops.
Published 29 Mar, 2004 12:00am
Afghan government to begin drug eradication programme

Afghan government to begin drug eradication programme

Afghanistan's government will begin a major poppy eradication programme targeting three provinces this week to counter the country's burgeoning narcotics trade, Interior Minister Ali Ahmad Jalali said Sunday.
Published 29 Mar, 2004 12:00am
Egypt interbank rate up

Egypt interbank rate up

The median overnight rate on Egypt's pound rose to 9-1/2 percent on Sunday from 8-1/4 percent on Thursday with rates driven higher by banks trying to meet central bank reserve ratio requirements, bankers said.
Published 29 Mar, 2004 12:00am
Indian shares seen rising but trade choppy

Indian shares seen rising but trade choppy

Indian shares are seen rising further this week ahead of the new fiscal year starting in April, on expectations of robust fourth quarter results as companies gain from the booming economy, analysts said.
Published 29 Mar, 2004 12:00am
Cairo bourse ends flat

Cairo bourse ends flat

A stock and cash dividend helped Misr International Bank (MIBank) climb on Sunday on an otherwise flat stock exchange, market participants said.
Published 29 Mar, 2004 12:00am
Taiwan stocks seen weak on election dispute

Taiwan stocks seen weak on election dispute

Taiwan stocks are expected to stay under pressure this week, with little prospect of a quick end to a political crisis that has paralysed one of Asia's most vibrant economies and drawn threats from arch-rival China.
Published 29 Mar, 2004 12:00am
Positive data seen helping Tokyo stocks extend gains

Positive data seen helping Tokyo stocks extend gains

Japanese stocks are expected to move higher this week, building on last week's gains, with buyers chasing technology and other exporting companies on expectations new data will show further improvement in the economy.
Published 29 Mar, 2004 12:00am
Ballot brings down bulls in Colombo bourse

Ballot brings down bulls in Colombo bourse

Until recently Sri Lanka's tiny bourse had been emerging as one of the world's best gainers, but foreign investors are either pulling out or putting plans on hold as fears grow that the country could slip back into civil war.
Published 29 Mar, 2004 12:00am
Political concerns to weigh on Hong Kong stocks

Political concerns to weigh on Hong Kong stocks

Hong Kong shares are expected to plumb new lows this week, shaken by political uncertainty after Beijing said it would review how the supposedly self-governing city's leader and legislature are chosen.
Published 29 Mar, 2004 12:00am
Yen reaches five-week high against dollar

Yen reaches five-week high against dollar

Pre-election politicking was blamed for pushing the Philippines peso to an all-time low over the week, while the Taiwan dollar shed 0.6 percent amid angry protests about the island's disputed election.
Published 29 Mar, 2004 12:00am
Schwarz eyes 350 million euro Parkinson's sales

Schwarz eyes 350 million euro Parkinson's sales

Germany's Schwarz Pharma expects peak annual sales of 350 million euros ($426 million) for a Parkinson's disease treatment it hopes to have on the market in 2006, the company's chief told a newspaper on Sunday.
Published 29 Mar, 2004 12:00am
FTSE seen cutting March losses, BP eyed

FTSE seen cutting March losses, BP eyed

UK stocks could start April higher after hefty losses left the FTSE oversold in March, but much will hinge on key economic data at the end of this week.
Published 29 Mar, 2004 12:00am
UK Wembley may get 288 million sterling counter offer

UK Wembley may get 288 million sterling counter offer

US consortium BLB is poised to make a possible offer of over 800 pence a share bid for British gaming firm Wembley, trumping rival MGM Mirage's 750 pence agreed cash bid, the Sunday Times said.
Published 29 Mar, 2004 12:00am
UK Wembley may get 288 million sterling counter offer

UK Wembley may get 288 million sterling counter offer

US consortium BLB is poised to make a possible offer of over 800 pence a share bid for British gaming firm Wembley, trumping rival MGM Mirage's 750 pence agreed cash bid, the Sunday Times said.
Published 29 Mar, 2004 12:00am
Wall Street weak ahead: wanted more jobs, please

Wall Street weak ahead: wanted more jobs, please

Show us the jobs. That's what Wall Street will be hoping for in this week when the closely watched monthly jobs report and a fresh batch of economic data are set for release.
Published 29 Mar, 2004 12:00am
Kuwaiti minister to attend non-Nato ally ceremony

Kuwaiti minister to attend non-Nato ally ceremony

Kuwait's Defence Minister Sheikh Jaber al-Mubarak al-Sabah left for Washington Sunday to attend a special function to mark a US designation of the emirate as a "major non-Nato ally".
Published 29 Mar, 2004 12:00am
Pope denounces plight of child soldiers

Pope denounces plight of child soldiers

Pope John Paul II on Sunday denounced the plight of child soldiers in conflicts around the world, saying they were both the victims and the protagonists of war.
Published 29 Mar, 2004 12:00am
2,000 Kurds jailed in Syria after riots

2,000 Kurds jailed in Syria after riots

Syria has continued to arrest Kurds in the wake of deadly riots earlier this month, raising the number behind bars to more than 2,000, the head of a banned Kurdish party said Sunday.
Published 29 Mar, 2004 12:00am
Hypersonic aircraft breaks world speed record

Hypersonic aircraft breaks world speed record

An experimental X-43 pilot-less plane broke Saturday the world speed record for an atmospheric engine, briefly flying at 7,700 kilometres (4,780 miles) per hour - seven times the speed of sound, NASA said.
Published 29 Mar, 2004 12:00am
Congo arrests 15 men after attacks in Kinshasa

Congo arrests 15 men after attacks in Kinshasa

Congolese authorities arrested 15 men after gunmen attacked military bases and television stations in the capital Kinshasa on Sunday in what a senior diplomat said appeared to have been a coup attempt.
Published 29 Mar, 2004 12:00am
Chinese defence minister in India, ties on upswing

Chinese defence minister in India, ties on upswing

India and China will look for ways to promote military relations and bury distrust during the first visit by a Chinese defence minister in a decade this week, officials said on Sunday.
Published 29 Mar, 2004 12:00am
'The Passion of the Christ' a hit in Beirut and Damascus

'The Passion of the Christ' a hit in Beirut and Damascus

Mel Gibson's controversial film "The Passion of the Christ," accused by some Jewish organisations of encouraging anti-Semitism, is drawing a sizeable if unexceptional audience here while apparently touching an emotional nerve in the Syrian capital, Damasc
Published 29 Mar, 2004 12:00am
21 killed in oil tanker explosion

21 killed in oil tanker explosion

Search and rescue operations have been called off for 18 sailors missing after the explosion and sinking of a Singapore-flagged tanker off the US Atlantic coast last month, the ship's Norwegian-based owners Odfjell said Sunday.
Published 29 Mar, 2004 12:00am
Georgian leader's allies to dominate parliament

Georgian leader's allies to dominate parliament

Georgians handed President Mikhail Saakashvili's allies a big victory in a parliamentary election on Sunday, but tensions in a wayward province and reported violence threatened to overshadow the poll.
Published 29 Mar, 2004 12:00am
Cyclone hits Brazil, seven fishermen feared dead

Cyclone hits Brazil, seven fishermen feared dead

A rare cyclone bringing strong winds and rain may have killed seven fishermen and had damaged houses and caused blackouts on the southern coast of Brazil, civil defence officials said on Sunday.
Published 29 Mar, 2004 12:00am
Berlusconi challenges EU stability pact rules

Berlusconi challenges EU stability pact rules

Italian Prime Minister Silvio Berlusconi Sunday questioned strict budget rules imposed by the European Union, saying it was not an offence for a member state to break them.
Published 29 Mar, 2004 12:00am
French left crushes government parties in regional poll

French left crushes government parties in regional poll

France's mainstream left crushed the ruling conservatives in regional elections on Sunday, paving the way for a government reshuffle and raising questions about the pace of economic reforms.
Published 29 Mar, 2004 12:00am
Taiwan crisis eases; recount possible within two days

Taiwan crisis eases; recount possible within two days

Taiwan's bitter political crisis eased slightly on Sunday as the opposition Nationalist Party said it believed a recount in a fiercely contested presidential election could begin within the next two days.
Published 29 Mar, 2004 12:00am
Rumsfeld defends Bush administration focus on Iraq

Rumsfeld defends Bush administration focus on Iraq

US Defence Secretary Donald Rumsfeld on Sunday defended the Bush administration's focus on Iraq after taking power in January 2001, saying it was the only country in the world at the time where Americans were coming under attack.
Published 29 Mar, 2004 12:00am
Chief prosecutor recommends Sharon indictment

Chief prosecutor recommends Sharon indictment

Israel's chief prosecutor on Sunday officially recommended bringing charges against Prime Minister Ariel Sharon in a corruption scandal that could drive him from office.
Published 29 Mar, 2004 12:00am
Commission head still wants Rice testimony public

Commission head still wants Rice testimony public

The commission investigating the September 11, 2001, attacks feels unanimously that White House national security adviser Condoleezza Rice should testify in public, the panel's head said on Sunday.
Published 29 Mar, 2004 12:00am
Nigerians criticise polls; 50 killed

Nigerians criticise polls; 50 killed

Nigerians widely criticised the country's first local elections since the end of military rule five years ago, citing fraud, intimidation and violence which has resulted in nearly 50 deaths.
Published 29 Mar, 2004 12:00am
Sri Lanka on alert as election violence escalates

Sri Lanka on alert as election violence escalates

Sri Lankan troops have stepped up their guard after gunmen shot and wounded a top election official and a candidate amid fears of more violence ahead of this week's elections, officials said Sunday.
Published 29 Mar, 2004 12:00am
Bremer hands over keys of first Iraqi ministry

Bremer hands over keys of first Iraqi ministry

US overseer Paul Bremer handed over the keys of the first of Iraq's 25 ministries to the country's interim leadership Sunday in a ceremony aimed at highlighting the gradual hand-over of power by June 30.
Published 29 Mar, 2004 12:00am
Turkish ruling party eyes big wins in local polls

Turkish ruling party eyes big wins in local polls

Turkey's conservative ruling party looked poised to win a strong mandate in Sunday's local council elections to press ahead with EU-inspired economic and political reforms, early unofficial results showed.
Published 29 Mar, 2004 12:00am
Investigators to probe Chalabi's use of US money

Investigators to probe Chalabi's use of US money

The investigative branch of the US Congress is looking into whether Iraqi National Congress leader Ahmad Chalabi broke the law in using US money to attempt to sway US opinion in favour of ousting Iraqi leader Saddam Hussein, Newsweek reports in its Monday
Published 29 Mar, 2004 12:00am
France's top hotels locked in kitchen competition

France's top hotels locked in kitchen competition

Paris's Crillon hotel, one of a handful of palatial establishments catering almost exclusively to the very rich and powerful, has a new chef with a big mission - at only 33, Jean-Francois Piege is expected to restore the kitchens to their rightful place a
Published 29 Mar, 2004 12:00am
International programme to fight hunger

International programme to fight hunger

Brazil, Chile, France and the United Nations are promoting an international programme to fight hunger and destitution in the world. A comprehensive effort is being undertaken in this field after four world leaders signed a Joint Declaration Action against
Published 29 Mar, 2004 12:00am
Fixing shares of firms

Fixing shares of firms

This letter refers to the news-item in the Business Recorder of March 17, 2004, titled "KSE fixes shares to buy-back prices of two companies." KSE has done a good job in getting a good price for the two mills.
Published 29 Mar, 2004 12:00am
Companies Easy Exit Scheme

Companies Easy Exit Scheme

This is with reference to the editorial titled "Re-launching of CEES" which appeared in your esteemed newspaper on Monday, 15 March 2004.
Published 29 Mar, 2004 12:00am
Egypt's small businesses struggle with red tape

Egypt's small businesses struggle with red tape

The owner of a new upmarket Cairo cafe popular with celebrities says that if the Egyptian government intends to encourage small businesses, he has yet to see the results.
Published 29 Mar, 2004 12:00am
Enterprise resource planning

Enterprise resource planning

In order to meet the challenges of WTO Regime it is imperative for the organisation to have globally sustainable competitive advantage, which is necessary ingredient for its long-term success and survival.
Published 29 Mar, 2004 12:00am
Averting suicides

Averting suicides

Coming in the midst of heart rending incidents of human misery, it is gratifying to learn that Prime Minister Mir Zafarullah Khan Jamali has asked the Sindh government to hold an immediate inquiry into the circumstances that have forced a number of women
Published 29 Mar, 2004 12:00am
FST: justice delayed...!

FST: justice delayed...!

With over 4,000 appeals in service matters from the employees of the federal government and public sector entities pending before the Federal Service Tribunal for the past several years, something will certainly appear to have gone amiss somewhere.
Published 29 Mar, 2004 12:00am
Watery issues

Watery issues

Water availability and distribution issues continue to bedevil the country. On the one hand, there is a rising crescendo of voices demanding an overhaul/replacement of the 1991 Water Accord, on the other total water availability is still a contentious mat
Published 29 Mar, 2004 12:00am
Indian fans come smiling

Indian fans come smiling

After dreaming for years about visiting the "forbidden land", 33-year-old Indian national Lungsanliu Gonmei this week finally set foot in Pakistan, anticipating hostility, abuse and rejection.
Published 29 Mar, 2004 12:00am
Pakistani bowlers can learn from the Indians: Waqar

Pakistani bowlers can learn from the Indians: Waqar

Former Pakistan captain Waqar Younis says the famed bowlers of his country should learn a trick or two from their Indian counterparts who have been remarkably consistent on the tour so far.
Published 29 Mar, 2004 12:00am
Fastest Test double centuries

Fastest Test double centuries

List of fastest double centuries in Test history (under player, country, number of balls to reach double hundred, opponents, venue and dates) after India's Virender Sehwag reached his 200 in 222 balls against Pakistan in the first Test on Sunday:
Published 29 Mar, 2004 12:00am
India and Pakistan to play more one-dayers this year

India and Pakistan to play more one-dayers this year

India and Pakistan will play six one-day internationals later this year with each country hosting three apiece, the chief executive of the Pakistan Cricket Board (PBC) said on Sunday.
Published 29 Mar, 2004 12:00am
Women's associations network planned

Women's associations network planned

The Sindh Women Development Department (SWDD) plans to initiate networking of all the non-governmental organisations working for the womenfolk in the province, Provincial Minister for Women Development Dr Saeeda Malik said.
Published 29 Mar, 2004 12:00am
Women's role as homemakers should not be belittled: Maleeha

Women's role as homemakers should not be belittled: Maleeha

The Pakistan's High Commissioner to United Kingdom, Dr Maleeha Lodhi, has said women's valuable role as homemakers should not be belittled, and urged them to work with determination and sincerity to succeed in all fields of life.
Published 29 Mar, 2004 12:00am
'Policy on integrated approach must for economic boost'

'Policy on integrated approach must for economic boost'

A policy based on integrated approach for the development of industrial sector should be formulated for ensuring economic stability of the country with key focus on employment generation.
Published 29 Mar, 2004 12:00am
Gilani invited to Brussels seminar

Gilani invited to Brussels seminar

The chairman of All Parties Hurriyat Conference(APHC), Syed Ali Gilani has been invited to a two-day seminar on occupied Kashmir to be held on April 14 and 15 in Brussels.
Published 29 Mar, 2004 12:00am
Blair's help sought to prevent parliament polls in occupied Kashmir

Blair's help sought to prevent parliament polls in occupied Kashmir

UK Tehreek-e-Kashmir President Mohammad Ghalib has sought support of British Prime Minister Tony Blair to support Kashmiris call on India not to hold elections of the Indian Parliament in occupied Kashmir, as it remained a disputed territory.
Published 29 Mar, 2004 12:00am
Alarming rise in heart diseases, say cardiologists

Alarming rise in heart diseases, say cardiologists

The incidence of heart diseases is rising at an alarming proportion in the society. According to World Health Organisation (WHO), projected figures for South Asia will have the highest incidence of heart diseases by the year 2010 onwards.
Published 29 Mar, 2004 12:00am
Thousands attend spring festival in Islamabad

Thousands attend spring festival in Islamabad

To celebrate the spring festival, Mobilink and Capital Development Authority (CDA) jointly organised a pop music show for the residents of twin cities of Islamabad and Rawalpindi here on Saturday night.
Published 29 Mar, 2004 12:00am
Yasin's killing to intensify Palestinians 'movement'

Yasin's killing to intensify Palestinians 'movement'

The martyrdom of Sheikh Ahmad Yasin will accelerate the independence movement of Palestinian Muslims because no power of the world could defeat the passion of jihad and martyrdom, these views were expressed by Muttahida Majlis-i-Amal women leader Ayesha M
Published 29 Mar, 2004 12:00am
APHC-Advani talks termed 'milestone' on road to peace

APHC-Advani talks termed 'milestone' on road to peace

Indian analysts said on Sunday the latest talks between occupied Kashmir's pro-independence leaders and Deputy Prime Minister Lal Krishna Advani aimed at ending conflict in the region marked a "milestone" on the road to peace but not a decisive turning po
Published 29 Mar, 2004 12:00am
Call for continuation of economic reforms

Call for continuation of economic reforms

"The economic policies of the present government have brought positive changes in the economic set-up of the country. The reforms initiated by the government have led to growth in manufacturing, recovery in agriculture, fiscal deficit reduction, decline i
Published 29 Mar, 2004 12:00am
Anti-corruption education scheme in schools soon

Anti-corruption education scheme in schools soon

The federal government has approved the national anti-corruption scheme to be implemented soon by National Accountability Bureau (NAB). It would begin from school level.
Published 29 Mar, 2004 12:00am
Funds for MRI machine

Funds for MRI machine

Chief Minister of Punjab Chaudhry Pervaiz Elahi has released funds for erection of the latest MRI machine in General Hospital Lahore.
Published 29 Mar, 2004 12:00am
50 doctors to attend cardiologists moot in India

50 doctors to attend cardiologists moot in India

As many as 50 Pakistani doctors will proceed to India to attend a two-day Indo-Pak Cardiologists Conference, being organised at Amritsar, Indian Punjab, under the aegis of Escorts Heart Hospital, Amritsar, starting from April 10-11.
Published 29 Mar, 2004 12:00am
LCCI role in trade promotion hailed

LCCI role in trade promotion hailed

A number of traders and manufacturers associations have hailed the role of the Lahore Chamber of Commerce and Industry (LCCI) for holding trade promotion exhibitions, exchange of trade delegations, scrutinising the LCCI membership and bringing the chamber
Published 29 Mar, 2004 12:00am