News Archives for Print - 2004-07-25

Print - 2004-07-25

Canadian bonds drift higher

The Canadian bond prices drifted higher on Friday, benefiting mildly from weakness on North American equity markets.

Published 25 Jul, 2004 12:00am

Peshawar businessmen demand release of Zardari

The business community of Peshawar on Saturday demanded the release of the PPP leader and spouse of former Prime Minister Asif Ali Zardari, saying that he is behind bars for eight years without probing any crime against him.

Published 25 Jul, 2004 12:00am

Rs 3.5 billion transmission line being laid

Dadu transmission line between Balochistan and Sindh would be laid during the current financial year at a cost of over Rs 3.5 billion.

Published 25 Jul, 2004 12:00am

Four dacoits arrested

Defence Police have apprehended four-member of Baba Gang involved in a number of incidents of snatching cash and cell phone, and recovered illegal weapons from their possession.

Published 25 Jul, 2004 12:00am

Abolition of check-posts deprives Peshawar customs of Rs 1 billion

The abolition of the Customs check-posts deprived the national exchequer and Collectorate Customs, Peshawar of annual revenue of more than Rs 1 billion besides wandering hundreds of customs officials deployed at those check-posts, sources in Customs House

Published 25 Jul, 2004 12:00am

Prgmea suggests timeframe to implement trade policy

The Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has suggested that a timeframe should be fixed for implementation of progressive and revolutionary measures announced in the new trade policy.

Published 25 Jul, 2004 12:00am

Lums holds discussion

The Lahore University of Management Sciences (Lums) in collaboration with the Asia Foundation arranged a roundtable discussion on democracy here on Saturday.

Published 25 Jul, 2004 12:00am

APTBA holds seminar on sales tax law

Member Sales Tax, Central Board of Revenue, Shahid Ahmed, has said that the government in the budget 2004-05 has taken a number of positive steps, including making the value-addition mandatory for the commercial importers.

Published 25 Jul, 2004 12:00am

12 agri officials suspended

Sindh Food and Agriculture Minister Arif Mustafa Jatoi has suspended 12 officials of his department who have not paid motorcycle purchase dues for the last fourteen years.

Published 25 Jul, 2004 12:00am

PTA criticises trade policy for ignoring leather sector

The Pakistan Tanners Association (PTA) has expressed dissatisfaction with the new trade policy as it has totally ignored the leather sector, which is a highly value-added and foreign exchange earner for the country.

Published 25 Jul, 2004 12:00am

State Bank governor's visit to KCCI put off

The State Bank Governor's visit to Karachi Chamber of Commerce (KCCI), which was scheduled for Monday, has been postponed due to sudden engagement of Dr Ishrat Hussain in Islamabad.

Published 25 Jul, 2004 12:00am

Motor dealers to observe strike on July 27

All Pakistan Motor Dealers Association (APMDA) would keep their shutters down throughout the country on July 27 (Tuesday) in protest against the Customs General Order of July 9, 2004, which has affected the import of reconditioned cars.

Published 25 Jul, 2004 12:00am

Murder of PPP MPA: Rs 1 million reward announced for information

The Sindh Home Department on Saturday announced Rs 1 million reward to those who could inform or lead to the murderer of Pakistan People's Party (PPP) MPA Abdullah Murad.

Published 25 Jul, 2004 12:00am

Ministries lock horns over seminaries' registration

The Ministries of Education and Interior locked horns over registration of religious seminaries. According to sources, the Ministry of Interior has refused to share the details of seminaries with the Ministry of Education, which is resulting in lots of hu

Published 25 Jul, 2004 12:00am

USC to wind up unviable stores

The Utility Stores Corporation (USC) has decided to close down its unviable stores to reduce the losses and to make the corporation profitable.

Published 25 Jul, 2004 12:00am

Senate delegation arrives in China

Chairman Senate Mohammadmian Soomro arrived in Urumqi, capital of Xinjiang province on Saturday evening on first leg of his week long state visit to China.

Published 25 Jul, 2004 12:00am

LTR introduces new system

The Lahore Telecom Region (North) of the Pakistan Telecommunication Company Limited (PTCL) has introduced a new system for providing round-the-clock facility to its subscribers for the redress of their complaints.

Published 25 Jul, 2004 12:00am

Parking fee may be enhanced

District Council Lahore is likely to enhance parking fee of various stands located in the provincial metropolis. The District Council Lahore has convened a special meeting on Monday, July 26, to discuss the proposal and take a decision.

Published 25 Jul, 2004 12:00am

Wapda's clarification

Water and Power Development Authority (Wapda) has clarified a news item published in a section of the press on Saturday regarding irregularities amounting to Rs 29.5 billion related to the Memorandum for Departmental Accounts Committee (MFDAC) on the acco

Published 25 Jul, 2004 12:00am

LHC benches for next week

As many as six division benches and 19 single benches will work at principal seat of the Lahore High Court (LHC) during the week commencing from Monday, July 26.

Published 25 Jul, 2004 12:00am

12 reconditioned bulldozers commissioned: 'Pakistan can carve out safe niche in WTO regime'

Sindh Food and Agriculture Minister Arif Mustafa Jatoi has said that Pakistan can create a safe niche in the free market regime by developing its agriculture sector which has very high potential.

Published 25 Jul, 2004 12:00am

Punjab Cabinet reviews policy to grant charter to private universities

The Punjab Cabinet has decided to review the policy of granting charters to universities and other higher academic institutions in the private sector so as to improve education standard.

Published 25 Jul, 2004 12:00am

Labour Party activists hold demonstration

Activists of the Labour Party Pakistan (LPP) staged a demonstration in front of the Lahore Press Club (LPC) here on Saturday in protest against arrests of 80 members of Anjuman-e-Mazareen in Okara.

Published 25 Jul, 2004 12:00am

PLF function on July 26

In order to express solidarity with Asif Ali Zardari former Senator and husband of former Prime Minister of Pakistan Benazir Bhutto, People Lawyer's Forum (PLF) will hold a special function at Karachi Hall of the Lahore High Court Bar Association on Monda

Published 25 Jul, 2004 12:00am

LHCBA meeting on July 26

A meeting of the Lahore High Court Bar Association (LHCBA) will be held here on Monday, July 26.

Published 25 Jul, 2004 12:00am

DTO asked to take notice of LCCI memberships cancellation

Chairman, The Founders, Pervez Hanif has demanded of the Director Trade Organisation (DTO), Ministry of Commerce, to take note of, what he claimed, unlawful cancellation of membership of 170 affiliated members of Trade Group of the Lahore Chamber of Comme

Published 25 Jul, 2004 12:00am

Punjab Assembly's website inaugurated

Punjab Assembly Speaker Mohammad Afzal Sahi on Saturday inaugurated online www.punjablaws.gov.pk. website of the Punjab Assembly. The site covers all the legislation that has been taken up in the assembly so far.

Published 25 Jul, 2004 12:00am

APNS deplores government ban on ads to Nawa-e-Waqt and Nation

Syed Faseih Iqbal, Acting President and Chairman, APNS Action Committee, has strongly deplored the coercive actions of the government against the press, manifested in the continued ban on government advertisements to Nawa-e-Waqt, The Nation and oth

Published 25 Jul, 2004 12:00am

CPNE slams acts to suppress press freedom

The Council of Pakistan Newspaper Editors (CPNE) central committee meeting held under the chairmanship of Convener Khusnud Ali Khan on July 21, in Islamabad, said a CPNE press release.

Published 25 Jul, 2004 12:00am

AJK government to give funds for Kashmiri journalists

Azad Jammu and Kashmir (AJK) Secretary Information Kh. Mohammad Saleem Bismil has said the AJK government will provide funds for the welfare of the Kashmiri journalists.

Published 25 Jul, 2004 12:00am

CDGK to build 31 local buses' termini

The Nazim City District Government Karachi (CDGK), Naimatullah Khan has accorded approval for establishing termini for local buses on 31 sites, identified by Transport & Communication Department.

Published 25 Jul, 2004 12:00am

Sindh University teachers urged to work with missionary zeal

The Vice-Chancellor of Sindh University, Mazharul Haq Siddiqui, has said that the academicians and teachers are most honourable and respectable segment of the society and urged the academicians and scholars to work with missionary zeal to shape the talent

Published 25 Jul, 2004 12:00am

Musharraf to be briefed on Wage Award

The Ministry of Information and Broadcasting has been preparing to give detailed briefing to President Pervez Musharraf on the implementation of 7th Wage Board Award for newspaper employees.

Published 25 Jul, 2004 12:00am

Newsmen asked to promote healthy journalism

Speaker Punjab Assembly Muhammad Afzal Sahi on Saturday took oath from President Najam Wali and Secretary Agha Ifthikar Ali of Punjab Assembly Press Gallery.

Published 25 Jul, 2004 12:00am

No breach of Irsa's directives: Wapda

Water and Power Development Authority (Wapda) has always respected Irsa's indents in letter and in spirit irrespective of power requirements.

Published 25 Jul, 2004 12:00am

Autonomous status for CBR

According to a news report, the World Bank is pressing the government to convert the Central Board of Revenue into a fully autonomous organisation with authority to manage its own affairs without any interference from the finance ministry.

Published 25 Jul, 2004 12:00am

Prospects of Geneva moot

The warning the World Trade Organisation chief, Supachai Panitchpakdi, sounded to the member states on Monday (July 19), has not come unexpected. For it revolves round fears of "all of us" turning poorer in case of failure of the Geneva moot to somehow sa

Published 25 Jul, 2004 12:00am

Government serves as marketing board for sugar mills

A leading English newspaper carried an article clarifying the position of the sugar industry, for which the government serves as the marketing board. Obviously, the sugar industry, which is the main beneficiary of the current policy, is hurt at the unplea

Published 25 Jul, 2004 12:00am

Uzbek kids pave roads as school homework

There is a blurred line for kids in Uzbekistan between school and labour camp. Homework just might include paving roads under a scorching sun in a struggling ex-Soviet state run with a thumping fist by President Islam Karimov.

Published 25 Jul, 2004 12:00am

White lie about Bt cotton

Bt cotton, the first transgenic non-food crop, is designed to protect crops from pests and cut spraying costs. It contains a strand of genetic material from the naturally occurring soil micro-organism Bacillus thuringiensis (Bt), and it has been successfu

Published 25 Jul, 2004 12:00am

Duty on cars

I have seen a letter in the Business Recorder, of Abdul Shakoor Umer, regarding the Central Board of Revenue, which has fixed the rate of customs duty on the import of cars.

Published 25 Jul, 2004 12:00am

Nepali kidnapped students recount brush with rebels

Nepalese students, recounting their abduction by Maoist rebels, say the militants treated them well and wanted to hear their views - even if they were critical of rebel actions.

Published 25 Jul, 2004 12:00am

New Zealand economy looking up

New Zealand is a financially sophisticated and developed, small South Pacific country with a population of 4 million people.

Published 25 Jul, 2004 12:00am

Weary Cubans wonder if oil could revive Castro regime

Weary from economic hardship, Cubans are eagerly awaiting news of the outcome of oil exploration off Cuba by Spain's Repsol YPF that could turn cash-strapped Havana into an oil producer overnight and breathe life into President Fidel Castro's communist re

Published 25 Jul, 2004 12:00am

Flintoff treble keeps England in command

England were 71 without loss and in total control at stumps on day three of the first test at Lord's on Saturday after Andrew Flintoff took three wickets for no runs to help dismiss West Indies for 416.

Published 25 Jul, 2004 12:00am

South Africa choose Puttick as cover for injured Gibbs

Uncapped Western Province left-hander Andrew Puttick will travel with the South Africa team to Sri Lanka as cover for the injured Herschelle Gibbs.

Published 25 Jul, 2004 12:00am

Pakistan in a must-win situation against India

On March 21 this year, India began their fourth match of the one-day series against Pakistan with a do-or-die going. Being 2-1 down in the series, they simply had to win to stay alive.

Published 25 Jul, 2004 12:00am

India odds-on favourite in today's game

India captain Saurav Ganguly believes his side's recent success against arch-rivals Pakistan will count for little when the teams meet in the Asia Cup on Sunday.

Published 25 Jul, 2004 12:00am

Dow ends below 10,000, jitters ahead of convention

US stocks tumbled on Friday after investors were unnerved by disappointing results from Coca-Cola Co and Microsoft Corp and fretted about possible attacks at next week's Democratic National Convention.

Published 25 Jul, 2004 12:00am

American credit market outlook

With corporate America having cleaned up their balance sheets and boosted cash holdings in the aftermath of the late-1990s binge, Morgan Stanley analysts say the halcyon days of credit quality may be coming to an end.

Published 25 Jul, 2004 12:00am

American credit market outlook

Published 25 Jul, 2004 12:00am

MetroPCS to land during IPO rough patch

MetroPCS Communications Inc will attempt to raise half a billion dollars next week in an initial public offering that comes as deals are consistently pricing below expectations.

Published 25 Jul, 2004 12:00am

MetroPCS to land during IPO rough patch

MetroPCS Communications Inc will attempt to raise half a billion dollars next week in an initial public offering that comes as deals are consistently pricing below expectations.

Published 25 Jul, 2004 12:00am

Toronto stocks decline as techs and golds sag

Toronto stocks closed lower on Friday as the latest round of corporate results could not make a thin market ignore growing concerns about corporate performance in the second half of the year.

Published 25 Jul, 2004 12:00am

Brazilian markets follow Wall Street fall

Brazilian stocks fell on Friday for the third consecutive session, pressured by lower US markets and concern about a local media report on alleged tax evasion by the Central Bank president, traders said.

Published 25 Jul, 2004 12:00am

US corporate bonds spread mostly flat

US corporate bond spreads were unchanged overall on Friday, with most bonds stalled in an 11-week trading range as losses in stocks offset a mostly positive second-quarter earnings season.

Published 25 Jul, 2004 12:00am

US corporate bonds spread mostly flat

US corporate bond spreads were unchanged overall on Friday, with most bonds stalled in an 11-week trading range as losses in stocks offset a mostly positive second-quarter earnings season.

Published 25 Jul, 2004 12:00am

Argentine stocks dip

Argentine shares slipped on Friday in light trading as investors awaited news on the country's negotiations with the International Monetary Fund.

Published 25 Jul, 2004 12:00am

Brazil tax evasion report hits bonds

A magazine report that Brazil's Central Bank President Henrique Meirelles is embroiled in a tax evasion scandal hit the country's bonds at the end of an otherwise quiet session for emerging market debt on Friday.

Published 25 Jul, 2004 12:00am

Brazil tax evasion report hits bonds

Published 25 Jul, 2004 12:00am

US Treasury prices finish firmer

US Treasuries crept up in thin trade on Friday as security fears ahead of the weekend and shoddy stock market performance fuelled a modest safe-haven bid.

Published 25 Jul, 2004 12:00am

US Treasury prices finish firmer

US Treasuries crept up in thin trade on Friday as security fears ahead of the weekend and shoddy stock market performance fuelled a modest safe-haven bid.

Published 25 Jul, 2004 12:00am

Mexican stocks weaken

Mexican stocks fell on Friday, after the country's central bank acted to drive up interest rates.

Published 25 Jul, 2004 12:00am

Chile stocks end mixed

Chilean stocks ended mixed on Friday as weak retail sales data tempered gains in the country's top electrical generator Endesa after posting strong first-half earnings, analysts said.

Published 25 Jul, 2004 12:00am

Canadian bonds drift higher

The Canadian bond prices drifted higher on Friday, benefiting mildly from weakness on North American equity markets.

Published 25 Jul, 2004 12:00am

Serbia adopts economic laws sought by investors

Serbia adopted on Friday a set of economic laws which foreign investors said would help boost direct investment in the country which is struggling to attract overseas businesses.

Published 25 Jul, 2004 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Saturday (July 24, 2004).

Published 25 Jul, 2004 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (July 24, 2004).

Published 25 Jul, 2004 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (July 24, 2004).

Published 25 Jul, 2004 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (July 24, 2004).

Published 25 Jul, 2004 12:00am

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm

Published 25 Jul, 2004 12:00am

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d

Published 25 Jul, 2004 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 25	281.17
USD PKR Interbank Buying / Apr 25	280.97
USD to Japanese Yen / Apr 25	143.67
USD to Swiss Franc / Apr 25	0.83
Pound Sterling to USD / Apr 25	1.33
Euro to USD / Apr 25	1.14
UK LIBOR % / Apr 24	4.96

Stock	Volume
S&P 500 / Apr 25	5,525.21
India Sensex / Apr 25	79,212.53
Tokyo Nikkei / Apr 25	35,705.74
Nasdaq / Apr 25	17,382.94
Hang Seng / Apr 25	21,980.74
FTSE 100 / Apr 25	8,415.25
Dow Jones / Apr 25	40,113.50
Germany DAX 30 / Apr 25	22,242.45
France CAC40 / Apr 25	7,536.26

Item	Value
Crude Oil USD/Barrel / Apr 25	63.17
Karachi Cotton PKR/37.32 KG / Apr 25	16,985
Gold 10 Grams PKR / Apr 25	298,950
Gold Spot USD/Ounce / Apr 25	3,327.60
Cotton US¢/pound / Apr 25	68.80
Petrol/Litre / Apr 27	254.63
Diesel/Litre / Apr 27	258.64

Gainers
Losers
Leaders

Stock	Price
First Capital Equities / Apr 25 First Capital Equities Limited(FCEL)	4.92 ▲ 0.96 (24.24%)
PICIC Ins.Ltd. / Apr 25 PICIC Insurance Limited(PIL)	3.14 ▲ 0.5 (18.94%)
Dewan Mushtaq / Apr 25 Dewan Mushtaq Textile Mills Limited(DMTM)	7.99 ▲ 1 (14.31%)
Pak. P.V.C. / Apr 25 Pakistan PVC Limited(PPVC)	8.26 ▲ 1 (13.77%)
J.K.Spinning / Apr 25 J.K. Spinning Mills Limited(JKSM)	61.90 ▲ 5.63 (10.01%)
At-Tahur Ltd. / Apr 25 At-Tahur Limited(PREMA)	86.74 ▲ 7.89 (10.01%)
Shezan Inter. / Apr 25 Shezan International Limited(SHEZ)	203.03 ▲ 18.46 (10%)
Sunrays Textile / Apr 25 Sunrays Textile Mills Limited(SUTM)	156.38 ▲ 14.22 (10%)
PIA Holding Co.B / Apr 25 PIA Holding Company Limited B(PIAHCLB)	3,282.29 ▲ 298.39 (10%)
S.S.Oil / Apr 25 S.S.Oil Mills Limited(SSOM)	357.05 ▲ 32.46 (10%)

Stock	Price
Engro Powergen / Apr 25 Engro Powergen Qadirpur Limited(EPQL)	28.71 ▼ -10.13 (-26.08%)
Ghani Chemworld / Apr 25 Ghani Chemworld Limited(GCWL)	8 ▼ -1 (-11.11%)
Samba Bank / Apr 25 Samba Bank Limited(SBL)	8.01 ▼ -0.99 (-11%)
Arpak Int. / Apr 25 Arpak International Investments Ltd.(ARPAK)	56.66 ▼ -6.29 (-9.99%)
Blue-Ex Ltd / Apr 25 Blue-Ex Limited (GEM)(GEMBLUEX)	47.38 ▼ -5.26 (-9.99%)
Saif Power Ltd. / Apr 25 Saif Power Limited(SPWL)	12.31 ▼ -1.3 (-9.55%)
Shaheen Ins. / Apr 25 Shaheen Insurance Company Limited(SHNI)	5.25 ▼ -0.46 (-8.06%)
Equity Modaraba / Apr 25 First Equity Modaraba(FEM)	2.75 ▼ -0.24 (-8.03%)
GlaxoSmithKline / Apr 25 GlaxoSmithKline Pakistan Limited(GLAXO)	409.57 ▼ -34.89 (-7.85%)
AKD Hospitality / Apr 25 AKD Hospitality Limited(AKDHL)	136.65 ▼ -10.81 (-7.33%)

Stock	Volume
WorldCall Telecom / Apr 25 Worldcall Telecom Limited(WTL)	22,789,497 ▼ -0.02
Power Cement / Apr 25 Power Cement Limited(POWER)	21,965,614 ▼ -0.17
Sui South Gas / Apr 25 Sui Southern Gas Company Limited(SSGC)	21,567,163 ▼ -0.56
B.O.Punjab / Apr 25 The Bank of Punjab(BOP)	19,825,526 ▼ -0.08
K-Electric Ltd. / Apr 25 K-Electric Limited(KEL)	17,030,953 ▼ -0.04
Aisha Steel Mill / Apr 25 Aisha Steel Mills Limited(ASL)	16,751,796 ▲ 0.59
Cnergyico PK / Apr 25 Cnergyico PK Limited(CNERGY)	16,717,262 ▼ -0.17
Pak Int.Bulk / Apr 25 Pakistan International Bulk Terminal(PIBTL)	16,382,803 ▲ 0.14
Sui North Gas / Apr 25 Sui Northern Gas Pipelines Limited(SNGP)	13,338,455 ▲ 0.33
Secure Logistics / Apr 25 Secure Logistics Group Limited(SLGL)	12,723,116 ▲ 1.13

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