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Print - 2004-07-26
Duty hike to tighten Russian oil exports

Duty hike to tighten Russian oil exports

Russian oil exports could drop next month if prices slide, as a hike in duties threatens to render many marginal routes unviable, traders said on Friday.
Published 26 Jul, 2004 12:00am
Takenaka urges speedier disposal of bad loans

Takenaka urges speedier disposal of bad loans

Japanese banks should take advantage of an improving economy to accelerate their disposal of bad loans, Economics and Financial Services Minister Heizo Takenaka said on Sunday.
Published 26 Jul, 2004 12:00am
Iran bans tobacco advertising

Iran bans tobacco advertising

Iran's government has approved a bill banning all tobacco advertising, smoking in public buildings and transport, and the sale of cigarettes to under-18's, the official news agency IRNA said Sunday.
Published 26 Jul, 2004 12:00am
EU puts final touches to world trade talks strategy

EU puts final touches to world trade talks strategy

Foreign ministers of the 25 member states of the European Union meet in Brussels Monday to put the final touches to their joint negotiating position at the World Trade Organisation (WTO) talks which open in Geneva on Tuesday.
Published 26 Jul, 2004 12:00am
Egypt interbank rate rises

Egypt interbank rate rises

The median overnight rate on the Egyptian pound rose slightly to 10-3/4 percent on Sunday from 10-1/2 percent on Thursday as bankers awaited the result of a treasury bill auction.
Published 26 Jul, 2004 12:00am
Tokyo stock market likely to fall this week

Tokyo stock market likely to fall this week

Japanese shares could fall this week as investors continue to worry about future earnings at top companies even if first quarter results that are starting to roll in are as good as expected.
Published 26 Jul, 2004 12:00am
Asian currencies slip on dollar gains

Asian currencies slip on dollar gains

The yen led Asian currencies lower over the week after the US dollar was boosted by upbeat midweek comments by Federal Reserve chairman Alan Greenspan on the US economy.
Published 26 Jul, 2004 12:00am
Lehman Brothers pulls out of Cazenove talks

Lehman Brothers pulls out of Cazenove talks

US investment bank Lehman Brothers has pulled out of talks to acquire UK stockbroker Cazenove, The Business newspaper reported on Sunday, without citing any sources.
Published 26 Jul, 2004 12:00am
Lehman Brothers pulls out of Cazenove talks

Lehman Brothers pulls out of Cazenove talks

US investment bank Lehman Brothers has pulled out of talks to acquire UK stockbroker Cazenove, The Business newspaper reported on Sunday, without citing any sources.
Published 26 Jul, 2004 12:00am
Taiwan stocks seen flat as wobbly techs stabilise

Taiwan stocks seen flat as wobbly techs stabilise

Taiwan stocks are expected to stabilise this week after falling 8 percent so far this month to touch a near 1-year low last week on worries over the outlook for the tech industry.
Published 26 Jul, 2004 12:00am
Results unlikely to lift European market gloom

Results unlikely to lift European market gloom

The number of firms reporting results gathers steam next week with British giants BP, Vodafone and GlaxoSmithKline dominating, but these are unlikely to move European bourses out of their rut.
Published 26 Jul, 2004 12:00am
South African investors eyes on gold miners, rand woes

South African investors eyes on gold miners, rand woes

Investors will scrutinise results this week from South African gold producers such as the world's number two gold miner AngloGold Ashanti to gauge how far the strong rand has eaten into earnings, traders said on Friday.
Published 26 Jul, 2004 12:00am
Vodafone, BP and Shell results may lift FTSE-100 index

Vodafone, BP and Shell results may lift FTSE-100 index

Heavyweight UK firms Vodafone, BP and Shell will step into the spotlight this week in one of the busiest corporate weeks of the year, marking a pivotal point for investors looking to lift the market's deepening gloom.
Published 26 Jul, 2004 12:00am
Shanghai opts for Deutsche Bourse trading system

Shanghai opts for Deutsche Bourse trading system

The Shanghai Stock Exchange has decided to implement Deutsche Bourse's Xetra electronic trading system, a German newspaper reported on Saturday, citing financial market sources.
Published 26 Jul, 2004 12:00am
Indian shares seen rising, bonds listless

Indian shares seen rising, bonds listless

Indian shares are seen rising further this week on strong earnings reports from key companies, but gains will be capped by concerns about the monsoon, traders said.
Published 26 Jul, 2004 12:00am
China must reinforce defence, says president

China must reinforce defence, says president

China must reinforce its national defence and prioritise the protection of its territorial integrity, President Hu Jintao said in state media Sunday as Beijing was reportedly organising military exercises opposite Taiwan.
Published 26 Jul, 2004 12:00am
Large weapon cache seized from Afghan city

Large weapon cache seized from Afghan city

Afghanistan's fledgling national army has seized a large weapons cache during a search operation in a Taleban stronghold in the south-east of the country, a defence official said Sunday.
Published 26 Jul, 2004 12:00am
Eight Tamils killed in attack near Colombo

Eight Tamils killed in attack near Colombo

Eight people were shot dead at a Tamil Tiger safe house near the Sri Lankan capital on Sunday in an attack blamed on the months-old split in the senior ranks of the rebel leadership.
Published 26 Jul, 2004 12:00am
Kerry opposes delay of US vote in event of terror strike

Kerry opposes delay of US vote in event of terror strike

US Democratic presidential candidate John Kerry said in an interview published on Sunday that he would oppose any move to postpone November's presidential election in the event terrorists launch an attack to disrupt the vote.
Published 26 Jul, 2004 12:00am
Ecevit quits politics

Ecevit quits politics

Former Turkish prime minister Bulent Ecevit, the man who sent Turkish troops into northern Cyrprus in 1974, quit the leadership of his Democratic Left Party on Sunday, ending a 50-year political career.
Published 26 Jul, 2004 12:00am
Anti-Iran group claims US support in Iraq

Anti-Iran group claims US support in Iraq

Iran's main armed opposition group said Sunday that the US-led coalition had granted its militants in Iraq protected status, despite its listing as a terrorist organisation by both Washington and its key allies.
Published 26 Jul, 2004 12:00am
Pakistan to visit India in early 2005

Pakistan to visit India in early 2005

Pakistan cricket team will tour India early next year to play a full series, the Board of Control for Cricket in India (BCCI) president Jagmohan Dalmiya said in Kolkata on Sunday.
Published 26 Jul, 2004 12:00am
Vaughan hundreds set up thrilling finish

Vaughan hundreds set up thrilling finish

England captain Michael Vaughan became only the third man in history to make hundreds in both innings of a Lord's Test, on the fourth day of the first Test against the West Indies.
Published 26 Jul, 2004 12:00am
Group standings

Group standings

Teams standing in Asia Cup 2004.
Published 26 Jul, 2004 12:00am
Tauqir Zia dispels rumours of his comeback

Tauqir Zia dispels rumours of his comeback

Former Pakistan Cricket Board (PCB) Chief Lieutenant General (R) Tauqir Zia, dispelled rumours of his comeback as PCB chairman saying that he had no intentions to assume the previous office again.
Published 26 Jul, 2004 12:00am
Malik powers Pakistan to win over India

Malik powers Pakistan to win over India

All rounder Shoaib Malik cracked a career-best 143 to power Pakistan to a 59-run win over arch-rivals India in their second round Asia Cup match on Sunday.
Published 26 Jul, 2004 12:00am
PIA Engineering & Maintenance

PIA Engineering & Maintenance

QUALITY OBJECTIVES Keeping in view the Safety and Quality Policy of PIA Engineering & Maintenance, the quality objectives of the Organisation are to:
Published 26 Jul, 2004 12:00am
The Story of Untiring Efforts and Success

The Story of Untiring Efforts and Success

How PIA Acquired International Aviation Approval of EASA - part-145 for its Engineering And Maintenance Department From European Aviation And Safety Agency
Published 26 Jul, 2004 12:00am
Message from Director General Civil Aviation Authority, Pakistan

Message from Director General Civil Aviation Authority, Pakistan

This is truly a momentous occasion for the entire aviation industry in Pakistan. The landmark achievement by PIA Engineering and Maintenance Department, of obtaining international certification and Part-145 approval by EASA, is an event of great significa
Published 26 Jul, 2004 12:00am
Message from Deputy Managing Director (Operations) PIAC

Message from Deputy Managing Director (Operations) PIAC

As the "accountable manager" of PIA Engineering and Maintenance department, it gives me great pleasure to congratulate all my Chief Engineers, Managers Engineering, Aircraft Engineers, technicians and other personnel of the department on having achieved i
Published 26 Jul, 2004 12:00am
Message from Chairman Pakistan International Airlines

Message from Chairman Pakistan International Airlines

Approximately three years after the new management took over, we are celebrating the award of Part-145 approval to PIA's Engineering department, and its international acceptance and designation as an approved maintenance organisation.
Published 26 Jul, 2004 12:00am
Hesco struggling to fill yawning dues recovery gap

Hesco struggling to fill yawning dues recovery gap

The dues recovery campaign of Hyderabad Electric Supply Company (Hesco) is yet to yield some significant results as a huge amount on account of arrears continues to be outstanding against public and private power consumers.
Published 26 Jul, 2004 12:00am
Corruption is the last straw for Palestinians

Corruption is the last straw for Palestinians

Already weighed down by insecurity, violence and grinding poverty, Palestinians have recently shown in dramatic fashion that they can no longer turn a blind eye to yet another hazard of everyday life: rampant corruption.
Published 26 Jul, 2004 12:00am
Poor energy policy

Poor energy policy

The Recorder's news coverage "Pakistan to face 5,000 MW power shortage by 2006 (July 11 issue) and July 12 editorial "The rising power demand" again high-lights our critical energy situation. Drastic steps are now required to solve the basic problems of i
Published 26 Jul, 2004 12:00am
OGDC official killed as gas line bursts

OGDC official killed as gas line bursts

OGDC production manager Shaukat Ali was killed when the main transmission line of Nundpur (Kabirwala) burst violently. His body was sent to Rahimyar Khan after post-mortem for burial.
Published 26 Jul, 2004 12:00am
Daunting trek to risky Himalayan shrine

Daunting trek to risky Himalayan shrine

Tens of thousands come each year, from ash-smeared Hindu holy men to housewives and prosperous professionals, driven by a deep faith to trek to an icy shrine high in the Himalayas in Indian occupied Kashmir.
Published 26 Jul, 2004 12:00am
Harnessing the country's wasteland

Harnessing the country's wasteland

Pakistan's 79.6 million hectares geographical area contains 9.14 million hectares cultivable wasteland. It is almost half of the country's cultivated area. Of the total 9.14m hectares wasteland, there are 4.87m hectares in Balochistan, 1.74 hectares in th
Published 26 Jul, 2004 12:00am
Agriculture's poor role in macro-economic progress

Agriculture's poor role in macro-economic progress

Despite enjoying necessary incentives, agriculture could not contribute to the achievement of macroeconomic objectives; and what is more disappointing is that the prices of most agricultural commodities, particularly food, continue to rise.
Published 26 Jul, 2004 12:00am
Export target acknowledgements

Export target acknowledgements

The Export Promotion Bureau has launched a high-budget publicity campaign these days in the Press on the theme of export "target exceeded". As reflected in these ads, EPB "...gratefully acknowledge(s) the leadership and commitment of the President of Paki
Published 26 Jul, 2004 12:00am
The menace of honour killing

The menace of honour killing

Prime Minister, Chaudhary Shujaat Hussain, talking with a delegation of women parliamentarians, who called on him on 17.7.2004, has informed that a Bill would soon be tabled in parliament for bringing the offenders in cases of honour killings to justice.
Published 26 Jul, 2004 12:00am
Are the millennium development goals achievable?

Are the millennium development goals achievable?

Access to basic social services not only forms the care of development but is also increasingly recognised as a basic human right serving to reduce non-income poverty of poor households enabling them to lead healthier and more productive life.
Published 26 Jul, 2004 12:00am
An unreasonable request

An unreasonable request

During his meetings with President General Pervez Musharraf and Foreign Minister Khurshid Mehmood Kasuri, the visiting German Foreign Minister, Joschka Fischer, asked for Islamabad's support for his country's bid to become a permanent member of the UN Sec
Published 26 Jul, 2004 12:00am
IMF's assessment of the economy

IMF's assessment of the economy

The IMF Staff Report released after completion of the eighth review of Pakistan's three-year Poverty Reduction and Growth Facility (PRGF), gives high marks to the country's economic performance but also points out, without mincing words, the vulnerabiliti
Published 26 Jul, 2004 12:00am
Three dacoits killed in encounter

Three dacoits killed in encounter

Thatta police killed three allegedly notorious dacoits in an encounter near Chilya, about 20 kilometres from here in the early hours of Sunday.
Published 26 Jul, 2004 12:00am
Pesco to spend Rs 7 billion to improve power transmission

Pesco to spend Rs 7 billion to improve power transmission

Chief Executive Peshawar Electricity Supply Company (Pesco), Brigadier Tahir Saeed Malik has said that Pesco has planned spending Rs 7 billion during the current fiscal for improving power supply system in NWFP.
Published 26 Jul, 2004 12:00am
Steps to strengthen trade infrastructure demanded

Steps to strengthen trade infrastructure demanded

Chairman Standing Committee of Sarhad Chamber on Dry Port, Zia-ul-Haq Sarhadi has stressed upon the government to take effective measures for strengthening trade infrastructure and enhancing country's export.
Published 26 Jul, 2004 12:00am
'Participatory Forestry' programme kicked off

'Participatory Forestry' programme kicked off

Provincial Forest Department has kicked off a multi-pronged plan for enhancing the acreage of forests and overcoming the pollution caused by the industrial sector through the plantation of eucalyptus trees in the Punjab.
Published 26 Jul, 2004 12:00am
EOBI to make investment in real estate

EOBI to make investment in real estate

The Employees Old-Age Benefits Institution (EOBI) has decided to invest in real estate to generate funds for establishing the organisation on sound footing.
Published 26 Jul, 2004 12:00am
Eight sisters fall victim to acid attack

Eight sisters fall victim to acid attack

Some unidentified person threw acid on eight daughters of a sweetmeat merchant in Village No 113/10-R (Jehanian) some 40-km south east of Multan on Saturday night when they were sleeping in the open-yard of their home.
Published 26 Jul, 2004 12:00am
Parliament to complete tenure: Raza

Parliament to complete tenure: Raza

Minister of State for Information Technology, Justice, Law and Parliamentary Affairs, Barrister Reza Hayat Haraj said on Sunday that the present government would complete its tenure.
Published 26 Jul, 2004 12:00am
Toothbrush sharing dangerous

Toothbrush sharing dangerous

Recent research conducted at the University of Regensburg in Germany revealed that sharing of toothbrush is dangerous and can transmit hepatitis-C.
Published 26 Jul, 2004 12:00am
Chocolate keeps heart healthy

Chocolate keeps heart healthy

Eating chocolate may be a good way to keep the heart healthy, say researchers. A study, presented to the European Society of Cardiology (ESC), suggests that polyphenols, which occur naturally in cocoa, may help to maintain cardiovascular health, BBC repor
Published 26 Jul, 2004 12:00am
Upper catchment areas to receive rain

Upper catchment areas to receive rain

Light to moderate rain has been forecast for upper catchments of the rivers Sutlaj, Beas, Ravi, Chenab and Jhelum along with northern and north-eastern Punjab during next 24 hours.
Published 26 Jul, 2004 12:00am
Transparency assured in NA-59 by-elections

Transparency assured in NA-59 by-elections

Provincial Co-operative Minister Colonel Malik Muhammad Anwar (Retd), on Sunday said that election process in NA-59 Attock would be completed under the vigilance of national and international media and observers.
Published 26 Jul, 2004 12:00am
19 villages of Okara farm cordoned off

19 villages of Okara farm cordoned off

More than 0.15 million people confined to their houses in 19 villages of the Okara agriculture farm on Sunday, and hundreds of animals might be died due to non-availability of fodder as the Rangers and Police have cordoned off all the ways leading to thes
Published 26 Jul, 2004 12:00am
The Role of Analytics in Modern Day Risk Management

The Role of Analytics in Modern Day Risk Management

As most people work on developing the perfect strategy to pre-empt stock market volatility, institutions all over the world are using risk assessment techniques to identify and quantify the risks involved in any activity.
Published 26 Jul, 2004 12:00am
CBR to enhance automation level at LTU

CBR to enhance automation level at LTU

The Central Board of Revenue (CBR) has decided to enhance the level of automation at the Large Taxpayer Unit (LTU), Karachi for speedy processing of cases to extend maximum facilities to the largest taxpaying units.
Published 26 Jul, 2004 12:00am
'Wapda not violating Irsa's orders'

'Wapda not violating Irsa's orders'

Wapda is not violating Indus River System Authority's (Irsa's) orders while distributing water to provinces.
Published 26 Jul, 2004 12:00am
Children summer camp: award distribution ceremony held

Children summer camp: award distribution ceremony held

A colourful award distribution ceremony at the conclusion of one-month "Summer Vacation Camp" for children organised by Islamabad Capital Territory Police (ICTP) was held here on Saturday with a dog show and exhibition of martial art skills as the main fe
Published 26 Jul, 2004 12:00am
Tribesmen abduct Afghan militiamen

Tribesmen abduct Afghan militiamen

The tribesmen took hostage eight Afghan militiamen along the porous North-western border with Afghanistan, officials said on Sunday.
Published 26 Jul, 2004 12:00am
Unisame wants review of Export Refinance rules

Unisame wants review of Export Refinance rules

The Union of Small & Medium Enterprises (Unisame) has urged the State Bank of Pakistan (SBP) to review the penalty rules for Export Refinance (ERF) and reduce the mark up to 2 percent for the period July 2004 to 2005 to enable the exporters to meet the ch
Published 26 Jul, 2004 12:00am
Warid Telecom chooses Ericsson for its GSM network in Pakistan

Warid Telecom chooses Ericsson for its GSM network in Pakistan

Warid Telecom Pvt Limited (Warid Telecom) has chosen Ericsson to build a green-field nation-wide GSM network in Pakistan. Under the Letter of Intent (LOI) signed between the two parties, Ericsson will provide a complete turnkey GSM solution comprising the
Published 26 Jul, 2004 12:00am
Wapda clarifies news report

Wapda clarifies news report

Wapda has clarified a news item, appeared in a section of the press regarding breach of Irsa orders.
Published 26 Jul, 2004 12:00am
Sindh again in water shortage grip

Sindh again in water shortage grip

Sindh once again is in the grip of water shortage which is bound to have negative impact on agricultural production.
Published 26 Jul, 2004 12:00am
Panicky sellers surrender to cotton buyers

Panicky sellers surrender to cotton buyers

With the completion of sowings in the late sowing areas, cotton sowing in 2004-05 season has come to an end. Cotton harvesting in early sowing areas of Lower Sindh and some areas of central Punjab in Sahiwal, Chichawatni and Mian Chunnu has already commen
Published 26 Jul, 2004 12:00am
Panicky sellers surrender to cotton buyers

Panicky sellers surrender to cotton buyers

With the completion of sowings in the late sowing areas, cotton sowing in 2004-05 season has come to an end. Cotton harvesting in early sowing areas of Lower Sindh and some areas of central Punjab in Sahiwal, Chichawatni and Mian Chunnu has already commen
Published 26 Jul, 2004 12:00am
Pak-Romania Business Forum hails Trade Policy

Pak-Romania Business Forum hails Trade Policy

Mohamed Salim Kapadia, President of Pakistan-Romania Business Forum and former senior vice-president of Karachi Chamber of Commerce & Industry, has welcomed the Trade Policy announced by Commerce Minister Humayun Akhtar Khan for the fiscal year 2004-2005.
Published 26 Jul, 2004 12:00am
Tribal clash claims eight lives

Tribal clash claims eight lives

At least eight people, including a woman were killed and other four women and an infant were seriously injured during a shootout between Solangi and Jagirani near Machyoon Police outpost at early hours of Sunday.
Published 26 Jul, 2004 12:00am
Wheat and sugar rise substantially on commodity markets

Wheat and sugar rise substantially on commodity markets

Some essentials like wheat and sugar rose substantially on the wholesale commodity markets during the week ended on July 24, 2004. Other commodities, which showed up trend were plastics, guwar, milk powder, castorseeds but rapeseed and cakes were down in
Published 26 Jul, 2004 12:00am
German fashion fair

German fashion fair

Pakistan will participate in 'Global Fashion Fair' to be held in, Duesseldorf, Germany, from August 01-03, 2004.
Published 26 Jul, 2004 12:00am
Pakistani scholar gets UN award

Pakistani scholar gets UN award

The Council of International Bureau of Education, United Nations has awarded "Jan Amos Comenius Medal 20O4" to Professor Dr Munawar Mirza, Director, Institute of Education and Research, Punjab University for his outstanding achievements in educational res
Published 26 Jul, 2004 12:00am
'No Afghan DPs forced to return home'

'No Afghan DPs forced to return home'

Secretary, Fata Security, Brigadier Mehmood Shah (Retd), has rejected reports that Afghan refugees were being compelled to leave the tribal areas.
Published 26 Jul, 2004 12:00am
Trade policy pushes cotton trading inert awhile

Trade policy pushes cotton trading inert awhile

The Trade Policy 2004-05 prospects pushed cotton trading on the local market held up for quite sometime looking for a direction during the week ended July 24, 2004.
Published 26 Jul, 2004 12:00am
DCM invited to attend NDI convention in Boston

DCM invited to attend NDI convention in Boston

Deputy Chief of Mission (DCM), Embassy of Pakistan, Washington DC, has arrived in Boston on a four-day visit, to attend the Democratic National Convention, on invitation of the National Democratic Institute (NDI).
Published 26 Jul, 2004 12:00am
Contraband recovered

Contraband recovered

In-charge Balkaser police check-post nabbed two drug pushers in two different operations and recovered a handsome quantity of charas and an illicit arms from their possession here on Sunday.
Published 26 Jul, 2004 12:00am
Non-stop Lahore-Rawalpindi train service from August 1

Non-stop Lahore-Rawalpindi train service from August 1

Pakistan Railways will commence a non-stop train service between Lahore and Rawalpindi from August 1, 2004, with latest AC parlour, lower AC and economy class coaches for the comfort of passengers.
Published 26 Jul, 2004 12:00am
EPZA road shows to attract UK investors: Jatoi

EPZA road shows to attract UK investors: Jatoi

Federal Minister for Industries and Production Liaqat Ali Khan Jatoi said on Sunday the Export Processing Zone Authority (EPZA) Road Shows in Britain, were to brief the potential investors of its different packages to persuade them make investment in Paki
Published 26 Jul, 2004 12:00am
Shaukat sees economic revolution in Thar

Shaukat sees economic revolution in Thar

Federal Finance Minister and Prime Minister-designate Shaukat Aziz has said Thar is very backward and poverty-hit area despite the fact that it is included among 10 big coal reserves of the world.
Published 26 Jul, 2004 12:00am
Three Supreme Court benches to work this week

Three Supreme Court benches to work this week

Three vacation benches of the Supreme Court will work at three cities during the next judicial week from Monday to Friday, according to a roster available here on Saturday.
Published 26 Jul, 2004 12:00am
AKTC, WMF projects to preserve Mostar's culture, heritage

AKTC, WMF projects to preserve Mostar's culture, heritage

The Aga Khan Trust for Culture (AKTC) and the World Monuments Fund (WMF) will inaugurate a wide range of projects with the opening of Mostar's reconstructed old bridge that include urban planning, the restoration of monuments, improvement of the historic
Published 26 Jul, 2004 12:00am