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Print - 2004-08-08
US corporate bond spreads widen

US corporate bond spreads widen

US corporate bond spreads widened on Friday after a weaker-than-expected jobs report sent Treasuries off to the races, leaving other bond sectors struggling to keep pace.
Published 08 Aug, 2004 12:00am
Peru to auction $20.5 million in domestic bonds

Peru to auction $20.5 million in domestic bonds

Peru will auction a total of 70 million soles ($20.5 million) in sovereign domestic bonds next week to promote local capital markets and raise cash to plug the fiscal deficit, the government said on Friday.
Published 08 Aug, 2004 12:00am
Peru to auction $20.5 million in domestic bonds

Peru to auction $20.5 million in domestic bonds

Peru will auction a total of 70 million soles ($20.5 million) in sovereign domestic bonds next week to promote local capital markets and raise cash to plug the fiscal deficit, the government said on Friday.
Published 08 Aug, 2004 12:00am
Some bright spots for IPOs amid snags

Some bright spots for IPOs amid snags

The first week in August was unkind to initial public offerings, leaving behind a trail of delayed deals and word Google Inc, the year's most highly anticipated IPO, will not hold its offering as soon as expected.
Published 08 Aug, 2004 12:00am
Mexican stocks decline

Mexican stocks decline

Mexican stocks dropped 2 percent on Friday under pressure from losses in mobile phone operator America Movil and weakness on Wall Street.
Published 08 Aug, 2004 12:00am
Brazilian shares finish 1.51 percent firmer

Brazilian shares finish 1.51 percent firmer

Brazilian financial markets recovered some losses on Friday despite a Wall Street slump on weaker-than-expected US jobs data as a government fiscal package to stimulate Latin America's biggest economy.
Published 08 Aug, 2004 12:00am
Toronto stocks extend losing streak

Toronto stocks extend losing streak

Toronto stocks extended their losing streak to three days on Friday on weaker-than-expected Canadian and US jobs data that raised concerns about the economic recovery in both countries.
Published 08 Aug, 2004 12:00am
JP Morgan ups Brazil and Turkey bonds

JP Morgan ups Brazil and Turkey bonds

J.P. Morgan said on Friday it raised its asset allocation recommendation for the sovereign bonds of Brazil and Turkey to "marketweight" from "underweight" as it raised its overall position on emerging market debt to "neutral" from "underweight."
Published 08 Aug, 2004 12:00am
JP Morgan ups Brazil and Turkey bonds

JP Morgan ups Brazil and Turkey bonds

J.P. Morgan said on Friday it raised its asset allocation recommendation for the sovereign bonds of Brazil and Turkey to "marketweight" from "underweight" as it raised its overall position on emerging market debt to "neutral" from "underweight."
Published 08 Aug, 2004 12:00am
American credit market outlook

American credit market outlook

Friday's disappointing US jobs report added one more potential negative for US credit spreads, which are already facing not only falling stock indexes and rising equity volatility but a growing willingness from companies to take care of shareholders over
Published 08 Aug, 2004 12:00am
American credit market outlook

American credit market outlook

Friday's disappointing US jobs report added one more potential negative for US credit spreads, which are already facing not only falling stock indexes and rising equity volatility but a growing willingness from companies to take care of shareholders over
Published 08 Aug, 2004 12:00am
US stocks hit lows for year on weak jobs data

US stocks hit lows for year on weak jobs data

US stock indexes closed at their lowest levels of the year on Friday after a dismal July jobs report fuelled concerns the US economic recovery could be losing steam and crude oil hit another 21-year high.
Published 08 Aug, 2004 12:00am
Need stressed for integrated farm research

Need stressed for integrated farm research

Monitoring activities of the federal funded project "Integration of Agriculture Research and Extension" was reviewed by a high-level meeting held here on Friday.
Published 08 Aug, 2004 12:00am
Bilour group likely to tighten grip over SCCI affairs

Bilour group likely to tighten grip over SCCI affairs

The Sarhad Chamber of Commerce & Industry (SCCI) annual polls for year 2004-05 would further tighten the grip of Senator Ilyas Ahmad Bilour-led Businessmen Forum on the affairs of the top trade body of the NWFP.
Published 08 Aug, 2004 12:00am
ICAP office-bearers for 2004-05 elected

ICAP office-bearers for 2004-05 elected

The Council of The Institute of Chartered Accountants of Pakistan (ICAP) at its 165th meeting on July 30 and 31, 2004 has elected the following office bearers for 2004-05 with effect from September 6, 2004.
Published 08 Aug, 2004 12:00am
Plastic cash gets no credit in Sri Lanka

Plastic cash gets no credit in Sri Lanka

Credit cards may be catching on in Sri Lanka but the island's first experiment with plastic banknotes has failed to take off, dashing hopes of saving on printing costs.
Published 08 Aug, 2004 12:00am
Internet boom in Tajikistan

Internet boom in Tajikistan

A future doctor in the impoverished and isolated former Soviet republic of Tajikistan has just touched base with the rest of the world for the first time.
Published 08 Aug, 2004 12:00am
Call to arrest culprits

Call to arrest culprits

I request NWFP Chief Minister Akram Khan Durrani and the Inspector-General of Police, NWFP, to issue strict orders to the officials concerned for the arrest of assailants, who critically wounded my younger son, Asghar Khan, when they sprayed him with bull
Published 08 Aug, 2004 12:00am
PIA officers' misbehaviour

PIA officers' misbehaviour

A PIA officer accompanying, PM Shujaat's delegation, on his recent trip to Madina, was in an intoxicated state and caught by security guards, within the periphery of the Haram Sharif. This is perhaps an outcome of a culture that prevails in PIA's top mana
Published 08 Aug, 2004 12:00am
Philippines peace talks stall

Philippines peace talks stall

A bright blue tent city sits beside the municipal hall here, silent witness to a decades-old civil war that has plagued the Muslim half of the southern Philippines.
Published 08 Aug, 2004 12:00am
Law of contract-III

Law of contract-III

In the last article I had discussed the question of the age of the parties considered competent to enter into legally valid agreements. In that context I had noted that according to the contract law only those who had attained the age of majority possesse
Published 08 Aug, 2004 12:00am
Private investors' involvement in public sector projects

Private investors' involvement in public sector projects

The Secretary to the Federal Ministry of Commerce, Tasneem Noorani, addressing a meeting with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday (August 6) reportedly disclosed that a formula was under preparation to invite the
Published 08 Aug, 2004 12:00am
Urgent need of fresh investment in fertiliser industry

Urgent need of fresh investment in fertiliser industry

The Minister for Industries and Production, Liaquat Ali Jatoi who chaired a meeting with the representatives of fertilizer companies in the country on Tuesday (August 3) to review the overall supply and demand and price situation in the fertilizer sector,
Published 08 Aug, 2004 12:00am
'This Time of Morning' published

'This Time of Morning' published

Sama Editorial and Publishing Services (SEPS) has released its third book, This Time of Morning by the well-known Indian author Nayantara Sahgal. The book is available with Liberty Books, Paramount Books, Royal Book Company, and other leading books
Published 08 Aug, 2004 12:00am
Three army jawans drown in Ravi

Three army jawans drown in Ravi

Three army jawans were drowned when their boat capsized in River Ravi here on Saturday. Six were rescued.
Published 08 Aug, 2004 12:00am
Ministry told to conduct probe into Rs 24.44 million loss

Ministry told to conduct probe into Rs 24.44 million loss

Public Accounts Committee on Saturday directed the Ministry of Petroleum to conduct an inquiry into the loss of Rs 24.44 million sustained by Sui Southern Gas Pipelines Company in the import of compressors during 2000-01.
Published 08 Aug, 2004 12:00am
Pakistan Steel announces bonus and facilities for employees

Pakistan Steel announces bonus and facilities for employees

"The manpower of any organisation is its backbone and it is imperative to properly motivate them through encouragement, and take good care of their well being so that they can whole-heartedly participate in the development of the organisation and the coun
Published 08 Aug, 2004 12:00am
Dr Atta launches educational research network

Dr Atta launches educational research network

Minister in charge for Science and Technology and Chairman Higher Education Commission, Dr Attaur Rahman launched PERN-Pakistan Educational Research Network-which would be of immense benefit for researchers, PhDs and students.
Published 08 Aug, 2004 12:00am
Establishment of rice city urged

Establishment of rice city urged

Rice Exporters Association of Pakistan (Reap) chairman Anwar Mian Noor has urged the government to establish rice city in the country to boost rice trade and its export.
Published 08 Aug, 2004 12:00am
Sikandar assures justice to journalists

Sikandar assures justice to journalists

Prime Minister of Azad Jammu Kashmir Sardar Sikandar Hayat Khan has assured the journalist community that he will hold an inquiry into the contempt notice sent to Khawar Nawaz Raja, Chief Editor, Weekly Nawa-i-Hurriyat.
Published 08 Aug, 2004 12:00am
Chinese premier to visit Pakistan soon: Soomro

Chinese premier to visit Pakistan soon: Soomro

The Prime Minister of China will soon pay a visit to Pakistan. This was stated by Senate Chairman Mohammedmian Soomro on his return here after an eight-day visit to China.
Published 08 Aug, 2004 12:00am
RBISE declares Inter Part I&II exams results

RBISE declares Inter Part I&II exams results

The Rawalpindi Board of Intermediate and Secondary Education (RBISE) has announced the results for the Intermediate Part I and II examinations, 2004, in which 18,868 passed the Intermediate Part-I out of 37,755 with the average of 49.99 percent, while 20,
Published 08 Aug, 2004 12:00am
607 Pakistanis deported from Oman arrive

607 Pakistanis deported from Oman arrive

Some 607 Pakistanis arrested in Oman (Muscat) few months earlier for illegal entry and employment, returned home on Saturday after their release by Omanese authorities.
Published 08 Aug, 2004 12:00am
General Aziz calls on Niyazov

General Aziz calls on Niyazov

Chairman Joint Chief of Staff Committee General Muhammad Aziz Khan, who is at present on a visit to Turkmenistan, called on President Saparmurat Niyazov Ataevich.
Published 08 Aug, 2004 12:00am
'Coronary thrombosis to remain major killer disease'

'Coronary thrombosis to remain major killer disease'

Heart specialists on Saturday said that coronary (heart) disease was a major killer of the 20th century and it would continue to remain so if immediate preventive measures are not adopted by health care service providers.
Published 08 Aug, 2004 12:00am
Ban on shrimps catching goes

Ban on shrimps catching goes

Sindh Government on Saturday announced that the ban on catching three kinds of shrimps named Kalari, Juira and Kiddi has been withdrawn from August 7 under section -25 of Sindh fisheries ordinance 1980.
Published 08 Aug, 2004 12:00am
Lahore High Court benches

Lahore High Court benches

One division bench and five single benches will work at the Lahore High Court (LHC) during the next week of summer vacation of LHC starting from Monday, August 9.
Published 08 Aug, 2004 12:00am
LHC office returns petition

LHC office returns petition

The office of the Lahore High Court (LHC) returned back a petition filed by a PML-N worker Malik Gulzar Ahmed, praying to the court to direct the respondent government not to interfere in the fundamental right of former Chief Minister Punjab and PML-N Pre
Published 08 Aug, 2004 12:00am
PCB announces 14-man Pakistan cricket squad

PCB announces 14-man Pakistan cricket squad

Pakistan Cricket Board (PCB) has announced 14-member Pakistan cricket team for the Tri-nation cricket tournament to be played in Holland and ICC Champions Trophy in UK.
Published 08 Aug, 2004 12:00am
PR credit society office-bearers greeted

PR credit society office-bearers greeted

General Manager Pakistan Railways (PR) Aurangzeb Khan, while congratulating the newly elected office-bearers of Pakistan Railway Credit Society, has advised them to work devotedly for the betterment and development of the society.
Published 08 Aug, 2004 12:00am
'Crop insurance scheme to revolutionise agri economy'

'Crop insurance scheme to revolutionise agri economy'

Punjab Chief Minister Chaudhry Pervaiz Elahi has averred that crop insurance scheme would revolutionise the agriculture economy, in which the Bank of Punjab would play an active role up to the union council level.
Published 08 Aug, 2004 12:00am
APEA welcomes Misbah's nomination

APEA welcomes Misbah's nomination

Auto Parts Exporters Association (APEA) has welcomed nomination of Mian Misbah-ur-Rehman as candidate of Piaf-Founders Alliance for the office of President Lahore Chamber of Commerce and Industry (LCCI) and described it as a wise decision in the best inte
Published 08 Aug, 2004 12:00am
EAC holds seminar on WTO pacts on August 26

EAC holds seminar on WTO pacts on August 26

The Experts Advisory Cell (EAC) of the Ministry of Industries and Production is organising a seminar on "WTO agreements and quality management" on August 26 in collaboration with the Institute of Bankers, here.
Published 08 Aug, 2004 12:00am
30th annual moot of IEEEP on August 9

30th annual moot of IEEEP on August 9

The 30th annual convention of Institution of Electrical and Electronics Engineers Pakistan (IEEEP) will be held at Wapda auditorium here on Monday, August 9.
Published 08 Aug, 2004 12:00am
Cotton sowing on 3.247 million hectares completed

Cotton sowing on 3.247 million hectares completed

The sowing of cotton crop has been completed over an area of 3.247 million hectares for 2004-05, surpassing the set target of by 6.3 percent against the last year's area achievement of 3.946 million hectares.
Published 08 Aug, 2004 12:00am
All THQs to be upgraded

All THQs to be upgraded

Punjab government would upgrade all the Tehsil Headquarters Hospitals (THQs) of the province, whereas the THQs of Depalpur, Arifwala, Rajanpur and Jampur have already been upgraded with a cost of Rs 160 million.
Published 08 Aug, 2004 12:00am
ZTBL field officials told to ensure relief benefits to farmers

ZTBL field officials told to ensure relief benefits to farmers

The president of Zarai Taraqiati Bank Limited (ZTBL), Istaqbal Mehdi, has directed its field functionaries in Sindh to ensure that the benefits of recently announced agri relief package reach maximum number of small farmers.
Published 08 Aug, 2004 12:00am
No extension in RCCI membership enrolment

No extension in RCCI membership enrolment

The Executive Committee of the Rawalpindi Chamber of Commerce and Industry (RCCI) had turned down the request made by the some members for extension date of filling the income tax returns to the chamber saying that such members would not be eligible to ca
Published 08 Aug, 2004 12:00am
Rain emergency stirs panic

Rain emergency stirs panic

Emergency declared by the provincial government following the meteorological forecast of heavy rains during next few days in coastal districts of Sindh including Hyderabad has created trepidation amongst the people.
Published 08 Aug, 2004 12:00am
Lahore receives more rains

Lahore receives more rains

In continuation of the monsoon rains, the provincial metropolis has received another short burst of rain on Saturday.
Published 08 Aug, 2004 12:00am
Gilani forms new party

Gilani forms new party

All Parties Hurriyat Conference (APHC) Chairman Syed Ali Gilani has formed a new political party, called Tehreek-e-Hurriyat, Jammu and Kashmir.
Published 08 Aug, 2004 12:00am
Gilani forms new party

Gilani forms new party

All Parties Hurriyat Conference (APHC) Chairman Syed Ali Gilani has formed a new political party, called Tehreek-e-Hurriyat, Jammu and Kashmir.
Published 08 Aug, 2004 12:00am
CNN report on al Qaeda camps baseless: ISPR

CNN report on al Qaeda camps baseless: ISPR

Inter-Services Public Relations, (ISPR) Director-General Major General Shaukat Sultan has said the CNN report on the presence of al Qaeda training camps at Pakistan's soil is totally baseless.
Published 08 Aug, 2004 12:00am
Two FC men, cop kidnapped

Two FC men, cop kidnapped

At least 25 armed men hijacked a van near Barkhan and later they kidnapped two soldiers of Frontier Corps and a police constable. They took them to their hideouts somewhere in mountainous range.
Published 08 Aug, 2004 12:00am
Freedom struggle to continue, says J&KPM

Freedom struggle to continue, says J&KPM

Convenor Jammu and Kashmir People's Movement (J&KPM) and All Parties Hurriyat Conference leader Abdul Majid Malik said that the people of Kashmir were determined to continue their principled struggle till they got the right to self-determination.
Published 08 Aug, 2004 12:00am
BISE announces results of FA and FSc

BISE announces results of FA and FSc

Board of Intermediate & Secondary Education (BISE) Multan has declared the result of FA, FSc 2004 showing pass percentage of 57.03 and all the top positions were annexed by the girls.
Published 08 Aug, 2004 12:00am
US delighted with Pakistan's co-operation, says Armitage

US delighted with Pakistan's co-operation, says Armitage

The US Deputy Secretary of State has said the United States is "delighted with the co-operation of Pakistan, which has allowed the administration to get a lot of information on a possible attack."
Published 08 Aug, 2004 12:00am
Sindh governor seeks masses' co-operation against terrorism

Sindh governor seeks masses' co-operation against terrorism

Sindh Governor Dr Ishratul Ibad, a Dow Graduate and the first Chancellor of Dow University of Health Sciences (DUHS) here on Saturday while announcing that the government would continue to strongly deal with terrorists also sought maximum co-operation of
Published 08 Aug, 2004 12:00am
BZU approves Rs 3.3 million for mango research

BZU approves Rs 3.3 million for mango research

The Bahauddin Zakariya University (BZU), Multan, for the first time has planned to play its role in saving the orchards of Southern Punjab for different diseases, and initiated research work with an initial amount of Rs 3.3 million.
Published 08 Aug, 2004 12:00am
JTA activists hold demonstration

JTA activists hold demonstration

The activists of Jamiaat Tulba Arabia (JTA) staged demonstration against the crackdown on religious seminaries all over the country, and the demonstrators widely condemned government actions and policy.
Published 08 Aug, 2004 12:00am
Pakistani mangoes highly praised in China

Pakistani mangoes highly praised in China

A cross-section of the Chinese people at the food festival, held here, highly praised the introduction of Pakistani mango in the local market.
Published 08 Aug, 2004 12:00am
Owais calls on Ibad

Owais calls on Ibad

Balochistan Governor Owais Ahmed Ghani met Sindh Governor Dr Ishratul Ibad at the Governor House here on Saturday.
Published 08 Aug, 2004 12:00am
Imran questions veracity of al Qaeda crackdown

Imran questions veracity of al Qaeda crackdown

Tehrik-e-Insaf Chief Imran Khan reacted sceptically on Saturday to Islamabad's apparent crackdown on al Qaeda, saying the government was desperate for the support of the United States.
Published 08 Aug, 2004 12:00am
ARD requisitions Senate session

ARD requisitions Senate session

The Democratic Alliance on Saturday filed an application to requisition the Senate session to discuss the prevailing situation in Balochistan.
Published 08 Aug, 2004 12:00am
Senator Durrani escapes accident

Senator Durrani escapes accident

Senator Muhammad Ali Durrani had a narrow escape in a road accident here on Saturday when a speeding passenger van collided with his car near Golra Mor.
Published 08 Aug, 2004 12:00am
Dug up roads causing hardships for commuters

Dug up roads causing hardships for commuters

A major hazard on roads in the city after Saturday's rains are the road diggings for various works carried out in recent days and which were filled in with a haphazard manner by contractors with little stone pitching or asphalt.
Published 08 Aug, 2004 12:00am
Hearing of case against doctor brothers put off

Hearing of case against doctor brothers put off

The hearing of a case against doctor brothers, Dr Arshad Waheed and Dr Akmal Waheed, was put off till August 18 by Feroz Mehmood Bhatti, Judge, Anti Terrorism Court (ATC-II) for Karachi division on Saturday.
Published 08 Aug, 2004 12:00am
TCP receives 7 bids for wheat import

TCP receives 7 bids for wheat import

Trading Corporation of Pakistan has on Saturday opened the bids for tender for the import of 500,000 MT wheat.
Published 08 Aug, 2004 12:00am
TCP receives 7 bids for wheat import

TCP receives 7 bids for wheat import

Trading Corporation of Pakistan has on Saturday opened the bids for tender for the import of 500,000 MT wheat.
Published 08 Aug, 2004 12:00am
One killed in Bangladesh blast

One killed in Bangladesh blast

A bomb killed one person and injured at least 50 others when it exploded on Saturday in the parking lot of a Bangladesh hotel where Sylhet city's opposition-backed mayor had just held a meeting, witnesses and doctors said.
Published 08 Aug, 2004 12:00am
One killed in Bangladesh blast

One killed in Bangladesh blast

A bomb killed one person and injured at least 50 others when it exploded on Saturday in the parking lot of a Bangladesh hotel where Sylhet city's opposition-backed mayor had just held a meeting, witnesses and doctors said.
Published 08 Aug, 2004 12:00am
Two US troops among five killed in Afghanistan

Two US troops among five killed in Afghanistan

Two US soldiers and their Afghan interpreter were killed on Saturday when the vehicle they were travelling in struck an "improvised explosive device" in south Afghanistan, a statement issued by the US-led military said.
Published 08 Aug, 2004 12:00am
Two US troops among five killed in Afghanistan

Two US troops among five killed in Afghanistan

Two US soldiers and their Afghan interpreter were killed on Saturday when the vehicle they were travelling in struck an "improvised explosive device" in south Afghanistan, a statement issued by the US-led military said.
Published 08 Aug, 2004 12:00am
Qazi hands over charge as envoy

Qazi hands over charge as envoy

Ambassador Ashraf Jahangir Qazi formally handed over charge of the office of Pakistan Ambassador to the United States, and is scheduled to leave here for New York on Saturday evening to take up the charge of his new assignment with the United Nations as s
Published 08 Aug, 2004 12:00am
Qazi hands over charge as envoy

Qazi hands over charge as envoy

Ambassador Ashraf Jahangir Qazi formally handed over charge of the office of Pakistan Ambassador to the United States, and is scheduled to leave here for New York on Saturday evening to take up the charge of his new assignment with the United Nations as s
Published 08 Aug, 2004 12:00am
UN offers to help broker cease-fire in Iraq

UN offers to help broker cease-fire in Iraq

The United Nations offered its help on Saturday to try to stop some of the worst fighting seen in Iraq in about four months between Shia militiamen and coalition forces.
Published 08 Aug, 2004 12:00am
Al Qaeda man linked to attempts on President held

Al Qaeda man linked to attempts on President held

A senior al Qaeda operative who knew Osama bin Laden and was linked to assassination attempts on President Pervez Musharraf has been arrested in Dubai and handed over to Islamabad, intelligence sources said on Saturday.
Published 08 Aug, 2004 12:00am