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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-05-31
Taiwan stocks wary on oil, but outlook upbeat

Taiwan stocks wary on oil, but outlook upbeat

High world oil prices could weigh on Taiwan stocks after a flare-up of violence in Saudi Arabia, but the market might get support from an expected rise in Taiwan's weighting on MSCI's influential indices.
Published 31 May, 2004 12:00am
Foreign sales seen hitting Indian shares and bonds

Foreign sales seen hitting Indian shares and bonds

Indian shares and bonds are expected to slip this week on worries that foreign funds - nervous about shifting government policies - will cut their exposure, and high crude oil prices will spark inflation.
Published 31 May, 2004 12:00am
Tokyo stocks seen moving little, Opec eyed

Tokyo stocks seen moving little, Opec eyed

Japanese shares are expected to be caught in a narrow range this week as investors hold their breath to see if an Opec meeting lessens concerns over high oil prices and paves the way for institutional buying.
Published 31 May, 2004 12:00am
Hong Kong stocks seen pausing after recent rally

Hong Kong stocks seen pausing after recent rally

A strong rally on Hong Kong's stock market is expected to stall this week, hurt by Middle East violence that is seen driving world oil prices higher, but supported by signs of a soft landing for China's booming economy.
Published 31 May, 2004 12:00am
Egypt interbank rate up

Egypt interbank rate up

The median overnight interbank rate on Egypt's pound rose to seven percent on Sunday from 6-3/4 percent on Thursday as banks sought funds to meet central bank reserve requirements, traders said.
Published 31 May, 2004 12:00am
South Africa's Vodacom mulls Nigeria exit

South Africa's Vodacom mulls Nigeria exit

Africa's biggest mobile phone operator Vodacom is mulling a pullout from Nigeria barely a month after signing a management deal with the country's second biggest cellphone group Econet, a source familiar with the case said on Sunday.
Published 31 May, 2004 12:00am
Seven banks agree Alstom rescue deal

Seven banks agree Alstom rescue deal

Seven large creditor banks have signed an agreement to support a capital increase and 8.0 billion euros ($9.81 billion) in contract guarantees for troubled engineering giant Alstom, the French Finance Ministry said on Sunday.
Published 31 May, 2004 12:00am
Green to submit bid for M&S this week

Green to submit bid for M&S this week

Tycoon Philip Green will approach UK retailer Marks & Spencer this week with an offer including one billion pounds of his own money, sources familiar with the situation said, as Sunday newspapers said the total bid could reach 10 billion pounds.
Published 31 May, 2004 12:00am
Bangladesh raises development spending

Bangladesh raises development spending

Bangladesh has raised spending on its annual development programme by 20 percent, to 228 billion taka ($3.85 billion) for the next fiscal year, a senior official said on Sunday, and it will pay special attention to agriculture.
Published 31 May, 2004 12:00am
Finland offers tax cuts to promote labour deal

Finland offers tax cuts to promote labour deal

Finland's government is offering new tax cuts as an incentive for the country's industry and unions to renew a long-term pay deal, the Finance Minister was quoted as saying on Sunday.
Published 31 May, 2004 12:00am
Oil capacity increase depends on demand: Saudi Arabia

Oil capacity increase depends on demand: Saudi Arabia

Saudi Arabia will wait to see whether global energy demand sustains its oil output at nine million barrels per day before it expands production capacity above 10.5 million, a Saudi oil source said recently.
Published 31 May, 2004 12:00am
Asian countries aim to club together over oil price

Asian countries aim to club together over oil price

Alarmed by soaring crude prices, five big Asian oil-consuming countries have agreed to try and club together to cope with a problem threatening the economic lifeblood of the region, South Korea said.
Published 31 May, 2004 12:00am
Alcoa to invest $1.4 billion in Brazil

Alcoa to invest $1.4 billion in Brazil

Alcoa Inc, the world's biggest producer of aluminium, plans to invest $1.4 billion in Brazil over the next four years after securing a contract that guarantees it power, the group's Latin America chief was quoted as saying.
Published 31 May, 2004 12:00am
No Australian property price downturn until 2006

No Australian property price downturn until 2006

Australian residential property prices are unlikely to burst anytime soon but will decline in 2006/07 as mortgage rates near 10 percent, industry forecaster BIS Shrapnel said in a report released on Monday.
Published 31 May, 2004 12:00am
Your rupee last week

Your rupee last week

The currency fluctuations took place in foreign exchange rates during the last week (May 24 to 29, 2004).

Published 31 May, 2004 12:00am
The Weather

The Weather

The weather report of Sunday (May 30) and the forecast for Monday (May 31, 2004).

Published 31 May, 2004 12:00am
Wapda misses system losses target by 2 percent

Wapda misses system losses target by 2 percent

Wapda has missed the target of system losses by 2 percent, it was 27 percent against the Financial Improvement Plan (FIP) target of 25 percent for third quarter.
Published 31 May, 2004 12:00am
Wapda misses system losses target by 2 percent

Wapda misses system losses target by 2 percent

Wapda has missed the target of system losses by 2 percent, it was 27 percent against the Financial Improvement Plan (FIP) target of 25 percent for third quarter.
Published 31 May, 2004 12:00am
Death toll rises to 25 in Saudi hostage drama

Death toll rises to 25 in Saudi hostage drama

Saudi security forces found nine bodies when they stormed a building in the city of Khobar on Sunday, raising the death toll to at least 25 in an assault-and-hostage drama, a Saudi diplomat said.
Published 31 May, 2004 12:00am
Death toll rises to 25 in Saudi hostage drama

Death toll rises to 25 in Saudi hostage drama

Saudi security forces found nine bodies when they stormed a building in the city of Khobar on Sunday, raising the death toll to at least 25 in an assault-and-hostage drama, a Saudi diplomat said.
Published 31 May, 2004 12:00am
THE RUPEE: gaining spree on money market

THE RUPEE: gaining spree on money market

The rupee almost recovered its lost ground versus the dollar following the State Bank of Pakistan (SBP) and exporters' selling, experts said.
Published 31 May, 2004 12:00am
THE RUPEE: gaining spree on money market

THE RUPEE: gaining spree on money market

The rupee almost recovered its lost ground versus the dollar following the State Bank of Pakistan (SBP) and exporters' selling, experts said.
Published 31 May, 2004 12:00am
Musharraf asks Shaukat to reconvene NFC

Musharraf asks Shaukat to reconvene NFC

President Pervez Musharraf has asked the Finance Minster Shaukat Aziz to reconvene National Finance Commission and resolve the NFC issue.
Published 31 May, 2004 12:00am
Musharraf asks Shaukat to reconvene NFC

Musharraf asks Shaukat to reconvene NFC

President Pervez Musharraf has asked the Finance Minster Shaukat Aziz to reconvene National Finance Commission and resolve the NFC issue.
Published 31 May, 2004 12:00am
Badla rates drop by 90 basis points

Badla rates drop by 90 basis points

The badla rates declined during the last week because of the increase in liquidity at the inter-bank market, falling by 90 basis points.
Published 31 May, 2004 12:00am
Badla rates drop by 90 basis points

Badla rates drop by 90 basis points

The badla rates declined during the last week because of the increase in liquidity at the inter-bank market, falling by 90 basis points.
Published 31 May, 2004 12:00am
Prices move in narrow band on KSE

Prices move in narrow band on KSE

The KSE-100 Index underwent a relatively sedate week, with the Index eventually showing a drop of 8 points to close at 5503 because tense city situation and lack of support from financial institutions and encouraging news from economic sector.
Published 31 May, 2004 12:00am
Prices move in narrow band on KSE

Prices move in narrow band on KSE

The KSE-100 Index underwent a relatively sedate week, with the Index eventually showing a drop of 8 points to close at 5503 because tense city situation and lack of support from financial institutions and encouraging news from economic sector.
Published 31 May, 2004 12:00am
CBR extends tax consultant's contract

CBR extends tax consultant's contract

The Central Board of Revenue (CBR) has extended the contract of British tax consultant, Maxwell Stamps, without paying them any additional fee.
Published 31 May, 2004 12:00am
CBR extends tax consultant's contract

CBR extends tax consultant's contract

The Central Board of Revenue (CBR) has extended the contract of British tax consultant, Maxwell Stamps, without paying them any additional fee.
Published 31 May, 2004 12:00am
PTCL opts for transparency in procurement and projects

PTCL opts for transparency in procurement and projects

A team from Transparency International Pakistan has come here to finalise the tendering documents of Pakistan Telecommunications Company Limited ensuring complete transparency in PTC procurement system.
Published 31 May, 2004 12:00am
PTCL opts for transparency in procurement and projects

PTCL opts for transparency in procurement and projects

A team from Transparency International Pakistan has come here to finalise the tendering documents of Pakistan Telecommunications Company Limited ensuring complete transparency in PTC procurement system.
Published 31 May, 2004 12:00am
Jamali for presenting people-friendly budget

Jamali for presenting people-friendly budget

Prime Minister Mir Zafarullah Khan Jamali on Sunday said that government is striving to present a welfare-oriented and people-friendly budget.
Published 31 May, 2004 12:00am
Jamali for presenting people-friendly budget

Jamali for presenting people-friendly budget

Prime Minister Mir Zafarullah Khan Jamali on Sunday said that government is striving to present a welfare-oriented and people-friendly budget.
Published 31 May, 2004 12:00am
Airlines seek long-term jet swaps to secure future

Airlines seek long-term jet swaps to secure future

Some cash-rich airlines are shopping for forward jet fuel swaps as far out as 2007 in a bid to stave off a repeat of this year's shrinking profits as oil prices spiral to record highs, derivatives dealers said on Monday.
Published 31 May, 2004 12:00am
Hollywood reignites climate cost debate

Hollywood reignites climate cost debate

A new Hollywood movie is set to recharge debate on whether the world should spend big money to prevent the catastrophes some fear global warming could bring.
Published 31 May, 2004 12:00am
Europe's 'granny boom' spurs industry makeover

Europe's 'granny boom' spurs industry makeover

As Europe's baby boomers prepare to retire, mid-sized firms supplying retirement homes, pension schemes and specialist medical care are growing rapidly and consolidating, creating opportunities for investors, analysts say.
Published 31 May, 2004 12:00am
Europe's 'granny boom' spurs industry makeover

Europe's 'granny boom' spurs industry makeover

As Europe's baby boomers prepare to retire, mid-sized firms supplying retirement homes, pension schemes and specialist medical care are growing rapidly and consolidating, creating opportunities for investors, analysts say.
Published 31 May, 2004 12:00am
Pakistan missile test to escalate arms race: India

Pakistan missile test to escalate arms race: India

India's Home Minister Shivraj Patil said on Sunday that Pakistan's weekend test of a nuclear-capable missile would escalate an arms race between the rival neighbours.
Published 31 May, 2004 12:00am
Pakistan missile test to escalate arms race: India

Pakistan missile test to escalate arms race: India

India's Home Minister Shivraj Patil said on Sunday that Pakistan's weekend test of a nuclear-capable missile would escalate an arms race between the rival neighbours.
Published 31 May, 2004 12:00am
Four US soldiers killed in Afghanistan

Four US soldiers killed in Afghanistan

Four US soldiers were killed in a landmine blast in Afghanistan as violence erupted in at least three districts in the south of the country, Afghan and US officials said on Sunday.
Published 31 May, 2004 12:00am
Four US soldiers killed in Afghanistan

Four US soldiers killed in Afghanistan

Four US soldiers were killed in a landmine blast in Afghanistan as violence erupted in at least three districts in the south of the country, Afghan and US officials said on Sunday.
Published 31 May, 2004 12:00am
Mango export to rise by 5 to 10 percent this year

Mango export to rise by 5 to 10 percent this year

Chief Executive Officer, Pakistan Horticulture Development & Export Board (PHDEB), Shamoon Sadiq has expressed the hope that the export of mangoes is expected to increase by five percent to 10 percent during the current season.
Published 31 May, 2004 12:00am
Saadi Cement enters export business

Saadi Cement enters export business

Saadi Cement has now also entered the export market. Its first export to Afghanistan started on May 27th, with a simple ceremony and prayer to Allah the most beneficent and most merciful.
Published 31 May, 2004 12:00am
FSC resumes petitions hearing from May 31

FSC resumes petitions hearing from May 31

The First Bench of the Federal Shariat Court (FSC) will resume hearings into the compatibility of several federal laws with the Islamic jurisprudence when it opens its June session from Monday.
Published 31 May, 2004 12:00am
CPNE's press complaint body meeting on May 31

CPNE's press complaint body meeting on May 31

Council of Pakistan Newspaper Editors (CPNE) is holding a meeting of its Press Complaint Committee on Monday at 5:00 pm at its Secretariat located at Fareed Chamber, Abdullah Haroon Road Karachi.
Published 31 May, 2004 12:00am
KPC seminar postponed

KPC seminar postponed

The Karachi Press Club has postponed the seminar on "Press Freedom" scheduled to be held on Monday at 5 pm in view of the volatile situation in the city on Sunday.
Published 31 May, 2004 12:00am
Karachi Nazim expresses grief and sorrow

Karachi Nazim expresses grief and sorrow

The Nazim of City District Government Karachi, Naimatullah Khan on Sunday expressed grief and sorrow over murder of the noted religious scholar Mufti Nizamuddin Shamzai and termed it a loss of Muslims Ummah.
Published 31 May, 2004 12:00am
Citizens urged to promote education zealously

Citizens urged to promote education zealously

National progress cannot be accomplished without an active participation of the society so every citizen should take part in popularising the education zealously.
Published 31 May, 2004 12:00am
Ijaz-ul-Haq asks people to remain peaceful

Ijaz-ul-Haq asks people to remain peaceful

Federal Religious and Minorities Affairs Minister Ijazul Haq on Sunday appealed to the people to remain peaceful and avoid indulging in activities that can harm the private or public property as a reaction to the murder of religious scholar Mufti Nizamudd
Published 31 May, 2004 12:00am
Death anniversary

Death anniversary

The 366th death anniversary of Qazi Muhammad Afzal Ala Rehmat, Chief Justice of Sub-Continent during Mogul period will be held at Aastana Alia Shah Gudar, Gari Shahu on June 3, 2004.
Published 31 May, 2004 12:00am
IBP holding Budget Breakfast Forum on June 7

IBP holding Budget Breakfast Forum on June 7

The Institute of Bankers Pakistan (IBP) is organising Budget Breakfast forum on June 7, the 1st working day after the announcement of Federal Budget.
Published 31 May, 2004 12:00am
Force used against PML-N and ARD workers on Shahbaz's arrival

Force used against PML-N and ARD workers on Shahbaz's arrival

The government committed worst kind of human right violations on the arrival of the former Punjab Chief Minister, Mian Shahbaz Sharif, on May 11, 2004 at Allama Iqbal International Airport Lahore, by using state force against PML (N) and ARD workers and a
Published 31 May, 2004 12:00am
First artificial skin to be developed

First artificial skin to be developed

An artificial skin would be developed in city through latest "Stem Cell" technique for skin grafting of burn patients for the first time in history of the country.
Published 31 May, 2004 12:00am
Compensation for bereaved family of photographer

Compensation for bereaved family of photographer

Prime Minister Sardar Sikandar Hayat Khan on Sunday directed authorities to pay Rs 100,000 compensation to the bereaved family of photographer who was killed by police firing during a protest demonstration against government in Chanari town last Thursday.
Published 31 May, 2004 12:00am
Services of General Attiq hailed

Services of General Attiq hailed

A seminar applauding services of late General Attique-u-Rehman former Governor of Punjab was held at Science Academy Sabzazar, on Sunday.
Published 31 May, 2004 12:00am
Preparation of new industrial policy in full swing: Cheema

Preparation of new industrial policy in full swing: Cheema

Provincial Industries and Investment Minister Mohammad Ajmal Cheema has said that preparation of new Industrial Policy 2004 is in full swing and various matters pertaining to industrial development were under active consideration of the government.
Published 31 May, 2004 12:00am
Mufti Shamzai's killing widely condemned

Mufti Shamzai's killing widely condemned

Information and Broadcasting Minister Sheikh Rashid Ahmed while talking to PTV said the murderers of Mufti Nizamuddin Shamzai would be given exemplary punishment and they could not escape from the law.
Published 31 May, 2004 12:00am
PICU at Civil Hospital remains non functional

PICU at Civil Hospital remains non functional

The Paediatric Intensive Care Unit (PICU), at Paediatrics Department, Unit III, Civil Hospital Karachi, formally inaugurated in January 2003 is yet to be functional for want of qualified staff in adequate numbers.
Published 31 May, 2004 12:00am
Life of Prophet (PBUH) a beacon of light

Life of Prophet (PBUH) a beacon of light

Religious scholar Professor Ahmed Rafiq Akhtar has said that the life of Holy Prophet (Peace Be Upon Him) is a beacon of light, and solution of all the problems confronting to Muslim Ummah lies in following his Sunnah.
Published 31 May, 2004 12:00am
Ban on wagons on urban routes flayed

Ban on wagons on urban routes flayed

Wagon owners, divers, staff and their family members will protest against the imposition of ban on plying of wagons on urban routes on June 1.
Published 31 May, 2004 12:00am
Dr Khalid promoted to BS-21

Dr Khalid promoted to BS-21

Professor Dr Khalid Rashid of International Islamic University has been promoted in BS-21 in recognition of his Research, organising teaching and research guidance to M. Phil and Ph.D. levels and for providing leadership to the other developmental program
Published 31 May, 2004 12:00am
Cotton sellers prevail upon buyers for higher price

Cotton sellers prevail upon buyers for higher price

Cotton planting has almost been completed in Lower Sindh, while it is in progress in Upper Sindh and Punjab. Previously, there was no shortage of canal water, sowing in one area was simultaneously, but now due to shortage of canal waters, cotton growers g
Published 31 May, 2004 12:00am
Cotton sellers prevail upon buyers for higher price

Cotton sellers prevail upon buyers for higher price

Cotton planting has almost been completed in Lower Sindh, while it is in progress in Upper Sindh and Punjab. Previously, there was no shortage of canal water, sowing in one area was simultaneously, but now due to shortage of canal waters, cotton growers g
Published 31 May, 2004 12:00am
Spot prices raised despite decline in world markets

Spot prices raised despite decline in world markets

The fast warning quality cotton has prompted buyers to frequent visit stations just in case they come across an offer of a desirable bale during the week ended on Saturday.
Published 31 May, 2004 12:00am
Traders urge CBR to honour commitments

Traders urge CBR to honour commitments

Local traders have urged the Central Board of Revenue (CBR) to honour its commitments made with them last year regarding total audit and other tax-related issues.
Published 31 May, 2004 12:00am
Meezan Providence launched

Meezan Providence launched

Meezan Bank has launched a new and unique Islamic Investment facility, Meezan Providence. The facility is the first of its kind in Pakistan, whereby a corporate or business concern can make a 100 percent halal long-term investment of their Employee Provid
Published 31 May, 2004 12:00am
Meezan Providence launched

Meezan Providence launched

Meezan Bank has launched a new and unique Islamic Investment facility, Meezan Providence. The facility is the first of its kind in Pakistan, whereby a corporate or business concern can make a 100 percent halal long-term investment of their Employee Provid
Published 31 May, 2004 12:00am
Commodities move at snails pace

Commodities move at snails pace

Commodities on the wholesale markets moved with snails' pace owing to untoward developments during the week ended May 29. However, variations were noted in sugar, gur, hide and skins, milk powder, raw rubber, yellow peas and dal (gram) new, rapeseed, cake
Published 31 May, 2004 12:00am
Sindh may turn into poppy growing areas: SAB

Sindh may turn into poppy growing areas: SAB

The Sindh Abadgar Board (SAB) has expressed apprehensions that the province might turn into poppy growing areas due to continuous decline in agriculture production due to poor availability of water, prolonged dry spell and fast deteriorating law and order
Published 31 May, 2004 12:00am
Contract system in farm market body resented

Contract system in farm market body resented

The introduction of contract system in agriculture produce market committee was strongly resented by the agro-base industrialists, traders and businessmen through out the province.
Published 31 May, 2004 12:00am
Durrani and Elahi discuss NFC award

Durrani and Elahi discuss NFC award

Chief Minister NWFP Muhammad Akram Khan Durrani who called on Chief Minister Punjab Chaudhry Pervaiz Elahi discussed National Finance Commission Award (NFCA) and collective operations on law and order between two provinces, on Sunday.
Published 31 May, 2004 12:00am
Three constables injured

Three constables injured

Three constables were injured by the firing of drug peddlers at Darbar 'Choop Gain' river bank, Shafiqabad area in the wee hours of Sunday.
Published 31 May, 2004 12:00am
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