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Print - 2004-04-20
Manila stocks little changed on political nerves

Manila stocks little changed on political nerves

The Philippine stock market closed almost unchanged on Monday, with investors taking profits on some blue chips as they eyed nervously an attempt by the opposition to unify ahead of May 10 national elections.
Published 20 Apr, 2004 12:00am
Hong Kong stocks end nearly flat, China plays sag

Hong Kong stocks end nearly flat, China plays sag

Leading Hong Kong shares ended nearly flat on Monday as investors waited for further clues on possible US interest rate hikes from Federal Reserve Chairman Alan Greenspan later this week.
Published 20 Apr, 2004 12:00am
Thai stocks soften

Thai stocks soften

Thai stocks ended down 1.06 percent on Monday as bearish foreign investors pushed bank stocks lower amid a slew of quarterly earnings, analysts said.
Published 20 Apr, 2004 12:00am
Jakarta stocks climb to eight-week high

Jakarta stocks climb to eight-week high

Jakarta stocks broke through resistance at 780-points on Monday to end at an eight-week high, driven by positive political developments and gains in cigarette firms and banks in anticipation of strong first quarter results.
Published 20 Apr, 2004 12:00am
Sri Lankan stocks sink

Sri Lankan stocks sink

Sri Lankan stocks fell on Monday despite gains in rarely traded Ceylon Oxygen Ltd, with investors wary of political uncertainty ahead of the new parliament's opening on Thursday.
Published 20 Apr, 2004 12:00am
Malaysian shares weaken, led by Maybank and Telekom

Malaysian shares weaken, led by Maybank and Telekom

Losses in Maybank and Telekom Malaysia led Malaysian shares to a lower finish on Monday as funds stepped up selling on blue chips which have fuelled the index's rise this year.
Published 20 Apr, 2004 12:00am
Singapore shares dip, banks and blue chips fall

Singapore shares dip, banks and blue chips fall

Singapore shares ended lower on Thursday, led by banks and blue chips such as Venture Corp, as investors stayed cautious ahead of news on the outlook for US interest rates.
Published 20 Apr, 2004 12:00am
South Korean shares slightly up, led by Samsung Electronics

South Korean shares slightly up, led by Samsung Electronics

South Korean shares ended a shade higher on Monday, with a late spurt of bargain-hunting bolstering shares in Samsung Electronics Co Ltd and helping the market recover from a hefty bout of program-related selling.
Published 20 Apr, 2004 12:00am
Chinese shares finish lower

Chinese shares finish lower

A slide in index heavyweight China United Telecommunications Corp pushed China shares to close lower on Monday amid lingering worries over a government-ordered tightening of credit.
Published 20 Apr, 2004 12:00am
Tokyo stocks decline, UFJ drags down banks

Tokyo stocks decline, UFJ drags down banks

Japanese shares fell on Monday as a report that financial authorities had found additional bad loans at UFJ Holdings Inc spurred selling in banks as well as property and steel stocks.
Published 20 Apr, 2004 12:00am
Indian shares drop on nerves before election

Indian shares drop on nerves before election

Indian shares shed one percent on Monday, a day before the general election for the national parliament starts, with investors worried about whether or not the next government will speed up market-friendly reforms.
Published 20 Apr, 2004 12:00am
Monday's unofficial close: US techs rebound, blue chips sag

Monday's unofficial close: US techs rebound, blue chips sag

Blue chips and the broad Standard & Poor's 500 index sagged on Monday as investors waited to see whether first-quarter earnings will match their lofty expectations, while technology shares snapped back from a steep four-session sell-off.
Published 20 Apr, 2004 12:00am
Take-over talk hits M&S bonds

Take-over talk hits M&S bonds

Bonds of Britain's largest clothing retailer Marks & Spencer fell in value on Monday on take-over speculation, while in the primary market high-yield issuers dominated the pipeline for another day.
Published 20 Apr, 2004 12:00am
Take-over talk hits M&S bonds

Take-over talk hits M&S bonds

Bonds of Britain's largest clothing retailer Marks & Spencer fell in value on Monday on take-over speculation, while in the primary market high-yield issuers dominated the pipeline for another day.
Published 20 Apr, 2004 12:00am
Bangladeshi taka weakens on import payments

Bangladeshi taka weakens on import payments

The Bangladeshi taka edged lower on Monday after importers sought the US currency for import of scrap vessels and industrial raw materials, dealers said. The taka was quoted at 58.98/59.15 per US dollar against 58.97/59.10 on Sunday.
Published 20 Apr, 2004 12:00am
Indian rupee ends steady

Indian rupee ends steady

The Indian rupee surrendered early gains to end steady on Monday as state-run banks, which usually intervene for the central bank, drained the market of dollars.
Published 20 Apr, 2004 12:00am
Swiss franc steady against dollar amid soft US data

Swiss franc steady against dollar amid soft US data

The Swiss franc held steady in early Monday trading as the dollar continued to be pressured by weak US economic data that has dampened speculation over a possible US rate rise, as well as security concerns in the Middle East that sparked fresh caution amo
Published 20 Apr, 2004 12:00am
Dollar slips as chance of US rate rise seen ebbing

Dollar slips as chance of US rate rise seen ebbing

The dollar softened against most major currencies on Monday, taking a breather from its recent rally as investors had second thoughts about whether the United States would raise interest rates in the near term.
Published 20 Apr, 2004 12:00am
Asian currencies: modest gains amid stumbling blocks

Asian currencies: modest gains amid stumbling blocks

Asian currencies were firmer on Monday, with the Korean won leading the pack, after unexpectedly weak US economic data soothed fears of a near-term monetary tightening there and caused the yen and euro to rally.
Published 20 Apr, 2004 12:00am
Hong Kong dollar ends steady

Hong Kong dollar ends steady

The Hong Kong dollar held steady on Monday as the US dollar eased against major rivals following recent comments from the Federal Reserve and a tepid batch of US data that tempered expectations of a near-term interest rate rise.
Published 20 Apr, 2004 12:00am
Chinese yuan ends unchanged

Chinese yuan ends unchanged

The yuan ended unchanged versus the dollar at 8.2769 on Monday, remaining near the stronger end of its managed trading range.
Published 20 Apr, 2004 12:00am
Sterling strengthens across the board

Sterling strengthens across the board

Sterling strengthened across the board on Monday as data showing rising British house and factory output prices reinforced expectations the Bank of England will raise interest rates next month.
Published 20 Apr, 2004 12:00am
Dollar falls as US rate hike fever wanes

Dollar falls as US rate hike fever wanes

The dollar retreated against the euro and higher yielding currencies on Monday as recent comments from Federal Reserve officials and disappointing US data tempered aggressive rate hike expectations.
Published 20 Apr, 2004 12:00am
I'm not a traitor, says Israeli nuclear whistleblower

I'm not a traitor, says Israeli nuclear whistleblower

Mordechai Vanunu, who is to be freed Wednesday after 18 years in prison for blowing the whistle on Israel's nuclear programme, remains unrepentant and does not regard himself as a traitor, according to new footage.
Published 20 Apr, 2004 12:00am
Zulu party to contest ANC election results

Zulu party to contest ANC election results

South Africa's second-largest opposition party, the Zulu nationalist Inkatha Freedom Party, said Monday it would challenge in court the outcome of last week's elections, alleging voter fraud.
Published 20 Apr, 2004 12:00am
Britain poised for U-turn on EU referendum

Britain poised for U-turn on EU referendum

Britain's Tony Blair is poised to announce plans for a referendum on a European Union constitution - a major change of heart for the prime minister that may heighten pressure on other nations for a similar vote.
Published 20 Apr, 2004 12:00am
Ukraine to return war booty to the Netherlands

Ukraine to return war booty to the Netherlands

Ukraine will hand over more than a hundred pictures to the Netherlands, returning World War Two booty stored in museum cellars in the capital Kiev, President Leonid Kuchma said on Monday.
Published 20 Apr, 2004 12:00am
Insurgents cripple Iraq roads, damage trade

Insurgents cripple Iraq roads, damage trade

Iraq's commercial transport network has practically come to a halt because of a deterioration in security and the closure of main roads by US forces, shippers and merchants said on Monday.
Published 20 Apr, 2004 12:00am
Maradona fights for life after heart failure

Maradona fights for life after heart failure

Argentine football legend Diego Maradona, who has a history of drug abuse and weight problems, was fighting for his life in critical condition in hospital here Monday after suffering acute heart failure.
Published 20 Apr, 2004 12:00am
800 rounded up in Nepal protests after clashes

800 rounded up in Nepal protests after clashes

Hundreds were arrested as police and protestors clashed violently in Kathmandu again Monday, as the ruling party demanded that the king sack the prime minister to defuse the political crisis in the Himalayan kingdom.
Published 20 Apr, 2004 12:00am
Afghans urge US and China to stop making land mines

Afghans urge US and China to stop making land mines

Land mine victims missing limbs or confined to wheelchairs were among hundreds of Afghans who staged a demonstration on Monday calling on the United States and China to stop producing the explosive devices.
Published 20 Apr, 2004 12:00am
Most South Koreans saw election as Roh confidence vote

Most South Koreans saw election as Roh confidence vote

Most South Koreans believe last week's parliamentary election signals that impeached President Roh Moo-hyun should be reinstated, but still want the Constitutional Court to rule on the case, an opinion poll said.
Published 20 Apr, 2004 12:00am
World court opens Nato 1999 bombing campaign case

World court opens Nato 1999 bombing campaign case

The World Court opened hearings on Monday into a case by Serbia and Montenegro challenging the legality of Nato's 1999 air strikes after a Serb crackdown in Kosovo.
Published 20 Apr, 2004 12:00am
Two Indian women get environmental awards

Two Indian women get environmental awards

Two Bhopal women who have defied social norms, poverty and sickness in a quest to hold Dow Chemical Company accountable for the 1984 Union Carbide disaster that killed more than 20,000 people in India are being honoured here Monday as environmental champi
Published 20 Apr, 2004 12:00am
Kim holds talks with Hu on nuclear issue

Kim holds talks with Hu on nuclear issue

Reclusive North Korean leader Kim Jong-Il held talks with President Hu Jintao Monday centred on nuclear issues days after the United States cited intelligence that Pyongyang had atomic bombs, reports said.
Published 20 Apr, 2004 12:00am
Kerry hits Bush 'sweetheart' ties with Arab nations

Kerry hits Bush 'sweetheart' ties with Arab nations

Democrat John Kerry on Monday voiced unwavering support for special US ties with Israel and vowed to end "sweetheart relationships" with Arab countries like Saudi Arabia that he said funded terror.
Published 20 Apr, 2004 12:00am
130 hurt in New York train collision

130 hurt in New York train collision

At least 130 people were injured when a work train hit the back of a stationary commuter train in a tunnel at New York's Pennsylvania station during the Monday morning rush hour, officials said.
Published 20 Apr, 2004 12:00am
British police arrest 10 in anti-terror raids

British police arrest 10 in anti-terror raids

Ten people were arrested Monday as police in central and northern England carried out a series of raids under Britain's main anti-terrorist law, Greater Manchester Police said.
Published 20 Apr, 2004 12:00am
US sees terror threats, aims to boost security

US sees terror threats, aims to boost security

The US government believes it is vulnerable to a terror attack during this year's presidential election, party conventions and national holidays, and has launched a plan to beef up security, Homeland Security Secretary Tom Ridge said.
Published 20 Apr, 2004 12:00am
Arafat rejects Israeli plan to quit Gaza

Arafat rejects Israeli plan to quit Gaza

Palestinian President Yasser Arafat on Monday rejected Israel's plan to quit the Gaza Strip as a sham that would turn it into "a big prison".
Published 20 Apr, 2004 12:00am
Thousands rally in Libya

Thousands rally in Libya

Thousands of Libyans demonstrated in the capital Monday against recent US military offensives in Iraq, particularly in the Sunni Muslim insurgent bastion of Fallujah.
Published 20 Apr, 2004 12:00am
Russia hands to India Tabar frigate contract

Russia hands to India Tabar frigate contract

Russia on Monday handed over to India the Tabar frigate, the third ship Moscow has built for New Delhi's navy under a one-billion-dollar contract, news reports said.
Published 20 Apr, 2004 12:00am
Gaza pullout can be positive, says Chirac

Gaza pullout can be positive, says Chirac

An Israeli plan to pull out of the Gaza Strip could help peace, but only as part of a negotiated settlement leading to a Palestinian state, French President Jacques Chirac said on Monday.
Published 20 Apr, 2004 12:00am
UN court rules Srebrenica massacre was genocide

UN court rules Srebrenica massacre was genocide

The UN war crimes court ruled Monday that the 1995 Srebrenica massacre was genocide, a historic decision that could determine the fate of others on trial here including former Yugoslav leader Slobodan Milosevic.
Published 20 Apr, 2004 12:00am
Sadr calls for end to attacks on Spanish troops

Sadr calls for end to attacks on Spanish troops

Iraqi Shia cleric Moqtada al-Sadr on Monday called for a halt to attacks on Spanish troops in Iraq because Spain was pulling out of the US-led occupying coalition.
Published 20 Apr, 2004 12:00am
Bush tells Spanish leader he regrets pullout

Bush tells Spanish leader he regrets pullout

US President George W. Bush told Spanish Prime Minister Jose Luis Zapatero on Monday that he regretted Madrid's decision to pull its 1,300 troops from Iraq, said White House spokesman Scott McClellan.
Published 20 Apr, 2004 12:00am
UN Convention Against Corruption (UNCAC)

UN Convention Against Corruption (UNCAC)

On 4 December 2000 the United Nations General Assembly (UNGA) in its resolution 55/61 decided to commission an ad hoc committee for the negotiation of an international legal instrument to combat corruption effectively.
Published 20 Apr, 2004 12:00am
Pakistan signs UN Convention Against Corruption

Pakistan signs UN Convention Against Corruption

Corruption has become an issue of increasing global concern, and Pakistan has been playing an active role in international efforts to address the problem. Recently, the United Nations proposed the development of a new global legal instrument against corru
Published 20 Apr, 2004 12:00am
Pakistan's contribution to UN Convention on Corruption

Pakistan's contribution to UN Convention on Corruption

A special Adhoc Committee of United Nations General Assembly was authorised by the UN General Assembly to convene in Vienna and negotiate a international convention against corruption.
Published 20 Apr, 2004 12:00am
Combating Endemic Corruption: NAB's experience

Combating Endemic Corruption: NAB's experience

The task of accountability is an unenviable one in the best of circumstances. In an environment of endemic corruption it attains nightmarish proportions. Everyday one comes across issues of investigating, arresting and prosecuting individuals.
Published 20 Apr, 2004 12:00am
Message from NAB chairman

Message from NAB chairman

Anticorruption initiatives were highlighted as a major governance theme with the coming into power of the Government in 1999 and National Accountability Bureau (NAB) was created as a specialised agency solely to eradicate the menace.
Published 20 Apr, 2004 12:00am
GCU exhibition opens on April 20

GCU exhibition opens on April 20

The two-day second annual industrial exhibition of the Government College University (GCU), Faisalabad, will begin on Tuesday (April 20).
Published 20 Apr, 2004 12:00am
SPI registers decrease

SPI registers decrease

The Sensitive Price Indicator (SPI) for the week ended on April 15, for lowest income group up to Rs 3,000 has registered 0.71 percent decrease over previous week.
Published 20 Apr, 2004 12:00am
SDPT handles consignments worth Rs 3479 million in March

SDPT handles consignments worth Rs 3479 million in March

The Sialkot Dry Port Trust (SDPT) handled 3913 consignments of sports, sports balls, gloves, leather goods, surgical instruments, badges and musical instruments etc weighing 6865 tons worth Rs 3479 million in export sector during March last.
Published 20 Apr, 2004 12:00am
Notice issued in Murtaza Bhutto murder case

Notice issued in Murtaza Bhutto murder case

Sindh High Court on Monday repeated notice, after lapse of two years, to Noor Muhammad, a complainant who lodged FIR against ex-senator Asif Ali Zardari and others in Murtaza Bhutto murder case.
Published 20 Apr, 2004 12:00am
Team formed to probe alleged irregularities in Sindh police

Team formed to probe alleged irregularities in Sindh police

Taking serious note of public complaints with regard to corruption, harassment, custodial deaths, misuse of vehicles, abuse of power, and other massive irregularities against Sindh police, Sindh CM's Advisor on home affairs, Aftab Ahmed Shaikh, has consti
Published 20 Apr, 2004 12:00am
SITE's industrial plots

SITE's industrial plots

In your issue dated 1st April 10, 2004 the captioned advertisement had been quite prominently publicised by SITE Ltd, Karachi.
Published 20 Apr, 2004 12:00am
Almeda Chowrangi bridge

Almeda Chowrangi bridge

Since the last several months, one nice overhead bridge is under construction and only God knows how much more time is required for its completion.
Published 20 Apr, 2004 12:00am
Unplanned excavation on Talpur Road

Unplanned excavation on Talpur Road

For the last one month, work in offices and export-related warehouses located on Talpur Road (between Old Queens Road. and I. I. Chundrigar Road.) has come to almost a virtual stop because of unplanned excavation and digging of the road.
Published 20 Apr, 2004 12:00am
Police Order changes

Police Order changes

A high level meeting chaired by President General Pervez Musharraf in Islamabad last week marked the end of the ambitions of the National Reconstruction Bureau (NRB) to reform the police in the direction of a professional, politically neutral, democratica
Published 20 Apr, 2004 12:00am
ICJ moved to stop bloodshed in Iraq and Palestine

ICJ moved to stop bloodshed in Iraq and Palestine

A member of the Lahore High Court Bar Association (LHCBA) M.D. Tahir has approached the International Court of Justice (ICJ) against injustices being perpetuated on innocent people in Afghanistan, Iraq, Palestine and occupied Kashmir.
Published 20 Apr, 2004 12:00am
Verdict reserved

Verdict reserved

The Supreme Court of Pakistan reserved its verdict in a petition filed by the former management of the Mohib Textile Mills, which approached the august court against the confirmation of sale of assets of the mills by the Lahore High Court (LHC).
Published 20 Apr, 2004 12:00am
KCCI member

KCCI member

The president, Karachi Chamber of Commerce and Industry (KCCI), Siraj Kassam Teli, has nominated Muhammad Sultan as member of the law and order, customs and valuations, general sales tax and refund, public sector utilities, and power and gas sub-committee
Published 20 Apr, 2004 12:00am
DPO told to take action against police officials

DPO told to take action against police officials

The Lahore High Court (LHC) has directed the District Police Officer (DPO), Lahore, to take action against Sub-Inspector Mian Najam Tauqir and other police officials for keeping Ijaz Ahmed and his brother Faisal Mustafa in their illegal custody.
Published 20 Apr, 2004 12:00am
Government urged to rationalise steel prices

Government urged to rationalise steel prices

The Founders Group at the Lahore Chamber of Commerce and Industry (LCCI) has urged the government to rationalise steel prices at domestic market in line with the emerging international price trend.
Published 20 Apr, 2004 12:00am
Amendment to Police Order 2002 opposed

Amendment to Police Order 2002 opposed

The chairman, National Co-ordination Committee for District Public Safety Commissions, Hafiz Ahsaan Ahmed, has urged the government to immediately withdraw amendment to Police Order, 2002, by virtue of which elected members would also be nominated in thes
Published 20 Apr, 2004 12:00am
BoP to launch housing finance scheme

BoP to launch housing finance scheme

The Bank of Punjab (BoP) is shortly launching a housing finance scheme for the employees of the federal government.
Published 20 Apr, 2004 12:00am
Call for allowing new vehicles import

Call for allowing new vehicles import

The government should allow the import of new vehicles at an 'agreed tariff' with the assemblers of vehicles in Pakistan so as to bridge the present demand and supply gap of new cars instead of allowing the import of reconditioned vehicles.
Published 20 Apr, 2004 12:00am
FPCCI vice president greets Iftikhar

FPCCI vice president greets Iftikhar

Haroon Rashid Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has greatly appreciated the inclusion of Pakistan's leading businessman and prominent industrialist Iftikhar Ali Malik in the world renowned book.
Published 20 Apr, 2004 12:00am
LCCI team leaves for Afghanistan

LCCI team leaves for Afghanistan

Led by Mian Shafqat Ali, a 12-member delegation of the Lahore Chamber of Commerce and Industry (LCCI) on Monday left here for a 10-day visit to Afghanistan and Tajikistan.
Published 20 Apr, 2004 12:00am
'Global campaign for education' begins

'Global campaign for education' begins

Of the 27 million children in the primary school age bracket in Pakistan, 13 million are not enrolled in schools, and more than half of them are girls.
Published 20 Apr, 2004 12:00am
AJK community development programme launched

AJK community development programme launched

Prime Minister Azad Jammu and Kashmir Sardar Sikandar Hayat Khan has regretted that development projects could not provide benefits to deprived class of the state.
Published 20 Apr, 2004 12:00am
Kite-flying with metallic wires hits power supply

Kite-flying with metallic wires hits power supply

The kite-flying especially using metallic wires and chemical string is disturbing the life of the people in the present hot days on account of power supply interruption due to the undesired kite string coming into contact with the live electricity lines.
Published 20 Apr, 2004 12:00am
Changing syllabus a serious matter

Changing syllabus a serious matter

Central leader of Pakistan Muslim League (PML-N) Muhammad Pervaiz Malik MNA has said that the changes in syllabus to underplay the Muslims, Pakistan's ideology and fundamentals of Islamic values on the recommendations of an unscrupulous foreign aided NGO
Published 20 Apr, 2004 12:00am
Conference to improve law and order in exploration areas soon

Conference to improve law and order in exploration areas soon

Federal Minister for Petroleum & Natural Resources Chaudhry Nauraiz Shakoor has said the federal government is soon to hold a two-day conference in Balochistan in collaboration with the provincial government, to discuss ways and means to improve law and o
Published 20 Apr, 2004 12:00am
Singapore trade team briefed on KSE working

Singapore trade team briefed on KSE working

Arif Habib, Chairman, Karachi Stock Exchange (KSE), on Monday briefed the delegation from Singapore Ministerial Trade and Investment about the economic reforms carried out by the present government which helped boost the stock market and the country's eco
Published 20 Apr, 2004 12:00am
Accountability cases de-clubbed

Accountability cases de-clubbed

Nearly all 25 accountability cases, clubbed earlier together, were ordered to be separated and re-listed according to their premises and reasons.
Published 20 Apr, 2004 12:00am
Unjust and unfair policies of KESC resented

Unjust and unfair policies of KESC resented

Representatives of SITE Association of Industry have expressed their resentment over unjust and unfair policies of Karachi Electric Supply Corporation (KESC) for their area, adversely affecting their business.
Published 20 Apr, 2004 12:00am
Builders seek solution of problems

Builders seek solution of problems

Babar Mirza Chughtai, Chairman, Association of Builders and Developers (Abad) has urged Sindh Governor Dr Ishrat-ul-Ibad to issue instructions to the concerned government departments to solve the problems of builders and developers.
Published 20 Apr, 2004 12:00am
Anti-polio drive launched in Sindh

Anti-polio drive launched in Sindh

Sindh Governor Dr Ishratul Ibad on Monday inaugurated three-day anti-polio drive in the province by administering polio drops to children at Civil Hospital, Karachi.
Published 20 Apr, 2004 12:00am
Sindh governor visits Dow Medical College

Sindh governor visits Dow Medical College

Sindh Governor Dr Ishratul Ibad on Monday visited Dow Medical College and ordered improvement in its various departments to bring it at par with international medical colleges.
Published 20 Apr, 2004 12:00am
Banks urged to break new grounds for investment

Banks urged to break new grounds for investment

Senate Chairman Mohammedmian Soomro has asked the banks to break new grounds for investment and focus on projects which can provide more jobs in the country.
Published 20 Apr, 2004 12:00am
Non-quota textile exports to be pushed up

Non-quota textile exports to be pushed up

Pakistan is to push up its export of non-quota textile products to the US and the European Union (EU) after the quota trade is abolished on January 2005.
Published 20 Apr, 2004 12:00am