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Print - 2004-07-26
Airbus ahead in race for $5 billion Virgin deal

Airbus ahead in race for $5 billion Virgin deal

European aerospace giant Airbus is "marginally ahead" of US rival Boeing in a battle to win a $5 billion aircraft order from Virgin Atlantic, a British newspaper reported on Sunday.
Published 26 Jul, 2004 12:00am
Doubts emerge over Greenspan's bright outlook

Doubts emerge over Greenspan's bright outlook

Fresh doubts are surfacing over the pace of US economic activity in the rest of 2004, likely to be a crucial factor for President George W Bush's re-election bid.
Published 26 Jul, 2004 12:00am
French activists rip up genetically modified crops

French activists rip up genetically modified crops

Hundreds of activists opposed to genetically modified crops tore out rows of maize in south-western France Sunday and threatened similar future actions of "civil disobedience" to stop the cultivation of bio-engineered food.
Published 26 Jul, 2004 12:00am
YUKOS threatens legal moves against buyers

YUKOS threatens legal moves against buyers

YUKOS, Russia's largest oil company by output, would take legal action against any firm that acquires its core operating unit Yuganskneftegaz at a knockdown price, The Sunday Telegraph newspaper reported.
Published 26 Jul, 2004 12:00am
Libya sets up 1 billion euro joint firm with South Africa

Libya sets up 1 billion euro joint firm with South Africa

Libya has set up a 1 billion euro joint-venture investment firm with Gabon and South Africa to create a cluster of oil, gas, banking, telecommunications and tourism joint firms across Africa, Libyan officials said on Sunday.
Published 26 Jul, 2004 12:00am
Eurozone confidence seen edging higher

Eurozone confidence seen edging higher

Eurozone indicators to be released in the coming week will show that regional confidence is edging higher but that inflation is still fuelled by high oil prices, economists said.
Published 26 Jul, 2004 12:00am
India assures Global Trust Bank customers

India assures Global Trust Bank customers

India sought to reassure customers of privately-held Global Trust Bank on Sunday that their deposits were safe and that an order restricting the bank's operations was only temporary.
Published 26 Jul, 2004 12:00am
Key shareholder to oppose British Energy plans

Key shareholder to oppose British Energy plans

Polygon Investments, a key shareholder in the UK's biggest electricity producer British Energy Plc, said on Sunday it planned to oppose the group's crucial restructuring plan.
Published 26 Jul, 2004 12:00am
Key shareholder to oppose British Energy plans

Key shareholder to oppose British Energy plans

Polygon Investments, a key shareholder in the UK's biggest electricity producer British Energy Plc, said on Sunday it planned to oppose the group's crucial restructuring plan.
Published 26 Jul, 2004 12:00am
Chemicals: CLARIANT PAKISTAN LIMITED - First Quarter Ended March 31 2004

Chemicals: CLARIANT PAKISTAN LIMITED - First Quarter Ended March 31 2004

Clariant Pakistan Limited manufactures and sells chemicals, dyestuffs, emulsions and master batches. It also acts as indenting agent. Its manufacturing facilities are located at two places in the province of Sindh and at one place in the province of Punja
Published 26 Jul, 2004 12:00am
Chemicals: CLARIANT PAKISTAN LIMITED - First Quarter Ended March 31 2004

Chemicals: CLARIANT PAKISTAN LIMITED - First Quarter Ended March 31 2004

Clariant Pakistan Limited manufactures and sells chemicals, dyestuffs, emulsions and master batches. It also acts as indenting agent. Its manufacturing facilities are located at two places in the province of Sindh and at one place in the province of Punja
Published 26 Jul, 2004 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week (July 19 to July 24, 2004).
Published 26 Jul, 2004 12:00am
The Weather

The Weather

The weather report on Sunday (July 25) and the forecast for Monday (July 26, 2004).
Published 26 Jul, 2004 12:00am
16 killed in fresh Iraqi violence

16 killed in fresh Iraqi violence

US-backed Iraqi security forces and police killed 15 insurgents in a blistering shootout on Sunday around the restive town of Baquba, north of the capital Baghdad, the US military said.
Published 26 Jul, 2004 12:00am
16 killed in fresh Iraqi violence

16 killed in fresh Iraqi violence

US-backed Iraqi security forces and police killed 15 insurgents in a blistering shootout on Sunday around the restive town of Baquba, north of the capital Baghdad, the US military said.
Published 26 Jul, 2004 12:00am
14 killed in Turkish train-bus collision

14 killed in Turkish train-bus collision

Fourteen people were killed and six others were injured on Sunday when a passenger train crashed into a minibus in the western Turkish province of Aydin, the Anatolia news agency reported.
Published 26 Jul, 2004 12:00am
Three foreigners among 12 terrorists held in Gujrat

Three foreigners among 12 terrorists held in Gujrat

Pakistan's security forces on Sunday arrested 12 people, including three foreigners, suspected of links with al Qaeda and other terrorist groups after a gun fight which left at least one policemen injured, officials said.
Published 26 Jul, 2004 12:00am
Three foreigners among 12 terrorists held in Gujrat

Three foreigners among 12 terrorists held in Gujrat

Pakistan's security forces on Sunday arrested 12 people, including three foreigners, suspected of links with al Qaeda and other terrorist groups after a gun fight which left at least one policemen injured, officials said.
Published 26 Jul, 2004 12:00am
THE RUPEE: dollar back on its old track

THE RUPEE: dollar back on its old track

The State Bank of Pakistan's (SBP) statement sparked rally in dollar value in the currency market last week, analysts observed.
Published 26 Jul, 2004 12:00am
THE RUPEE: dollar back on its old track

THE RUPEE: dollar back on its old track

The State Bank of Pakistan's (SBP) statement sparked rally in dollar value in the currency market last week, analysts observed.
Published 26 Jul, 2004 12:00am
Average badla rate rises to 13 percent

Average badla rate rises to 13 percent

The weighted average badla rate at Karachi Stock Exchange rose to 13 percent from 11.8 percent because several trading and investment stocks recorded gains last week and there was appreciation in overnight rates.
Published 26 Jul, 2004 12:00am
Average badla rate rises to 13 percent

Average badla rate rises to 13 percent

The weighted average badla rate at Karachi Stock Exchange rose to 13 percent from 11.8 percent because several trading and investment stocks recorded gains last week and there was appreciation in overnight rates.
Published 26 Jul, 2004 12:00am
Foreign direct investment up by 19 percent

Foreign direct investment up by 19 percent

The direct foreign investment in the country witnessed a surge of 19 percent after the country sold two cellular phone licences and strategic stake in Habib Bank.
Published 26 Jul, 2004 12:00am
Foreign direct investment up by 19 percent

Foreign direct investment up by 19 percent

The direct foreign investment in the country witnessed a surge of 19 percent after the country sold two cellular phone licences and strategic stake in Habib Bank.
Published 26 Jul, 2004 12:00am
KSE weekly average volume at eight-month low

KSE weekly average volume at eight-month low

The average weekly trading volume at Karachi Stock Exchange last week touched eight-month low level as investors' interest in Pakistan Petroleum Ltd shares was immense in anticipation of making quick gain from its subscription.
Published 26 Jul, 2004 12:00am
KSE weekly average volume at eight-month low

KSE weekly average volume at eight-month low

The average weekly trading volume at Karachi Stock Exchange last week touched eight-month low level as investors' interest in Pakistan Petroleum Ltd shares was immense in anticipation of making quick gain from its subscription.
Published 26 Jul, 2004 12:00am
Karzai puts off Pakistan visit

Karzai puts off Pakistan visit

Afghan President Hamid Karzai on Sunday abruptly and unexpectedly called off visit to Pakistan a day ahead of the deadline for the nomination of presidential candidates in Afghanistan's upcoming October polls.
Published 26 Jul, 2004 12:00am
Karzai puts off Pakistan visit

Karzai puts off Pakistan visit

Afghan President Hamid Karzai on Sunday abruptly and unexpectedly called off visit to Pakistan a day ahead of the deadline for the nomination of presidential candidates in Afghanistan's upcoming October polls.
Published 26 Jul, 2004 12:00am
South Korean woes defy easy interest rate treatment

South Korean woes defy easy interest rate treatment

Federal Reserve Chairman Alan Greenspan's promise of measured interest rate increases will probably push up borrowing costs across most of Asia in coming months, with one exception: South Korea.
Published 26 Jul, 2004 12:00am
Moscow property boom to continue despite warnings

Moscow property boom to continue despite warnings

The Russian capital's red-hot real estate market looks set soar again this year and most analysts brush off warnings from officials that prices may already be dangerously high.
Published 26 Jul, 2004 12:00am
Reinsurers continue to pay for past sins

Reinsurers continue to pay for past sins

Insurance markets are booming, with premiums at their highest point in a decade and no new major disasters to upset the cashflow.
Published 26 Jul, 2004 12:00am
German 2005 refinery shutdowns to hit fuel supplies

German 2005 refinery shutdowns to hit fuel supplies

Europe's refiners are planning another hefty turnaround programme next year that could tighten fuel supplies and help force up prices, potentially mirroring this year's rally on oil products markets.
Published 26 Jul, 2004 12:00am
Equities ignore bullish profit, valuation signals

Equities ignore bullish profit, valuation signals

Equity strategists are increasingly frustrated by floundering share markets that have failed to rally despite bumper corporate profits and promises of better to come.
Published 26 Jul, 2004 12:00am
Fauji and Engro profit to rise in first half year

Fauji and Engro profit to rise in first half year

Fauji Fertiliser and Engro Chemical are to announce their financial results for the six months ended June 30. Analysts estimate that the earnings of the companies might climb by approximately 18 percent and 27 percent, respectively.
Published 26 Jul, 2004 12:00am
Fauji and Engro profit to rise in first half year

Fauji and Engro profit to rise in first half year

Fauji Fertiliser and Engro Chemical are to announce their financial results for the six months ended June 30. Analysts estimate that the earnings of the companies might climb by approximately 18 percent and 27 percent, respectively.
Published 26 Jul, 2004 12:00am
Fauji and Engro profit to rise in first half year

Fauji and Engro profit to rise in first half year

Fauji Fertiliser and Engro Chemical are to announce their financial results for the six months ended June 30. Analysts estimate that the earnings of the companies might climb by approximately 18 percent and 27 percent, respectively.
Published 26 Jul, 2004 12:00am
CBR urged to allow duty-free import of auto-parts samples

CBR urged to allow duty-free import of auto-parts samples

Auto-parts Exporters Association Chairman Tahir Javed Malik has urged the Federal Commerce Minister and authorities of the Central Board of Revenue (CBR) to allow duty-free import of auto-parts samples, valuing up to $200.
Published 26 Jul, 2004 12:00am
CBR urged to allow duty-free import of auto-parts samples

CBR urged to allow duty-free import of auto-parts samples

Auto-parts Exporters Association Chairman Tahir Javed Malik has urged the Federal Commerce Minister and authorities of the Central Board of Revenue (CBR) to allow duty-free import of auto-parts samples, valuing up to $200.
Published 26 Jul, 2004 12:00am
10 killed in IOK

10 killed in IOK

At least 10 people were killed in separate incidents of violence in Indian occupied Kashmir, police said on Sunday.
Published 26 Jul, 2004 12:00am
Adnan Zuberi's Valima held

Adnan Zuberi's Valima held

The Valima dinner to mark the wedding of Adnan, son of Mrs and Arshad A. Zuberi, with Haya, daughter of Mrs and Dr M. A. Almani, was held here on Sunday night at a local hotel.
Published 26 Jul, 2004 12:00am
Oil camp catches fire

Oil camp catches fire

A total of 14000-litre oil caught fire due to result of a blast at an oil company camp, in which two oil tankers standing there also caught fire, at Naseer Canal bridge near here on Sunday.
Published 26 Jul, 2004 12:00am
Consensus reached on Bhasha dam: Memon

Consensus reached on Bhasha dam: Memon

Senator Nisar A. Memon, chairman, Parliamentary Committee on Water Resources, said that the provinces have reached a consensus on Bhasha dam and the government could start its construction.
Published 26 Jul, 2004 12:00am
Kasuri to visit India from September 5

Kasuri to visit India from September 5

Indian External Affairs Minister K Natwar Singh on Sunday night said his Pakistani counterpart Khurshid Mahmud Kasuri would pay a two-day visit to India from September 5, to carry forward bilateral composite dialogue on all issues Including Kashmir disput
Published 26 Jul, 2004 12:00am
Government urged to withdraw gas price hike

Government urged to withdraw gas price hike

The increase of 10 percent in gas charges has enhanced the cost of industrial production, thus making the exports incompetitive in the world market.
Published 26 Jul, 2004 12:00am
HBFC increases loans for small towns and tehsils

HBFC increases loans for small towns and tehsils

The House Building Finance Corporation (HBFC), on the special directive of Prime Minister Chaudhry Shujaat Hussain has increased the ceiling of loans for small towns and teshil headquarters from Rs 0.5 million to Rs one million.
Published 26 Jul, 2004 12:00am
115 held at Taftan border

115 held at Taftan border

Levies arrested 115 people for crossing border without valid documents on Sunday at Taftan and registered cases against them under Foreign Act.
Published 26 Jul, 2004 12:00am
Rashid leaves for China

Rashid leaves for China

Minister for Information and Broadcasting Sheikh Rashid, heading a 12-member media delegation, left here for Beijing on Sunday night.
Published 26 Jul, 2004 12:00am
Banks can receive Hajj applications with Nadra slips

Banks can receive Hajj applications with Nadra slips

The government has allowed the banks to receive Hajj applications provisionally, where the Nadra has issued an acknowledgement slip, and not issued the computerised national identity cards (CNICs).
Published 26 Jul, 2004 12:00am
Suburban towns deprived of due share from CDGK

Suburban towns deprived of due share from CDGK

Towns representing suburban parts of city are facing immense hardships, as they are not receiving their due share from City District Government (CDGK) since the inception of new local government.
Published 26 Jul, 2004 12:00am
'No decision yet to send troops to Iraq'

'No decision yet to send troops to Iraq'

The Central Information Secretary, Pakistan Muslim League, Senator Tariq Azeem said that Pakistan would send its troops to Iraq after approval from the Parliament.
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
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
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
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
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
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
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
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
'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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
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