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Print - 2004-08-09
The Weather

The Weather

The weather report on Sunday (August 08) and the forecast for Monday (August 09, 2004).

Published 09 Aug, 2004 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week (August 02 to 07, 2004).

Published 09 Aug, 2004 12:00am
Cement: FECTO CEMENT LIMITED - Nine Months Ended March 31 2004

Cement: FECTO CEMENT LIMITED - Nine Months Ended March 31 2004

This cement manufacturing unit of Sangjani Islamabad has successfully brought turn around from substantial net loss to moderate profit after tax. Hence on 31st March 2004, its accumulated deficit reduced to 68% of accumulated deficit on 1st July 2004.
Published 09 Aug, 2004 12:00am
Cement: FECTO CEMENT LIMITED - Nine Months Ended March 31 2004

Cement: FECTO CEMENT LIMITED - Nine Months Ended March 31 2004

This cement manufacturing unit of Sangjani Islamabad has successfully brought turn around from substantial net loss to moderate profit after tax. Hence on 31st March 2004, its accumulated deficit reduced to 68% of accumulated deficit on 1st July 2004.
Published 09 Aug, 2004 12:00am
Cement: BESTWAY CEMENT LIMITED - Nine Months Ended March 31 2004

Cement: BESTWAY CEMENT LIMITED - Nine Months Ended March 31 2004

It is a public limited company listed on Karachi Stock Exchange. It was incorporated on December 22, 1993 and is engaged in production and sale of cement. Its manufacturing facilities are located in Hattar District Haripur NWFP.
Published 09 Aug, 2004 12:00am
Cement: BESTWAY CEMENT LIMITED - Nine Months Ended March 31 2004

Cement: BESTWAY CEMENT LIMITED - Nine Months Ended March 31 2004

It is a public limited company listed on Karachi Stock Exchange. It was incorporated on December 22, 1993 and is engaged in production and sale of cement. Its manufacturing facilities are located in Hattar District Haripur NWFP.
Published 09 Aug, 2004 12:00am
Daimler plans sales drive in China

Daimler plans sales drive in China

German-US auto-maker DaimlerChrysler said Sunday it was planning a new sales offensive in China by vastly expanding its dealer network, marking a fresh attempt to shore up its Asian operations.
Published 09 Aug, 2004 12:00am
Oil price rises will impact euro economy: ECB banker

Oil price rises will impact euro economy: ECB banker

The rise in oil prices will have an impact on the eurozone economy, but the situation is not equivalent to the 1973-74 oil crisis, European Central Bank Vice President Lucas Papademos said on Sunday.
Published 09 Aug, 2004 12:00am
Lloyds TSB, RBoS could join hunt for Abbey

Lloyds TSB, RBoS could join hunt for Abbey

British banking giants Lloyds TSB and the Royal Bank of Scotland (RBoS) could join a bidding war for Abbey National, reports said Sunday.
Published 09 Aug, 2004 12:00am
Sumitomo offers more than $4.5 billion for UFJ merger

Sumitomo offers more than $4.5 billion for UFJ merger

Sumitomo Mitsui Financial Group (SMFG) has not given up on a merger with UFJ Holdings to create the world's biggest banking group, its chief said Sunday amid a report SMFG had bettered a cash offer from a rival.
Published 09 Aug, 2004 12:00am
Dubai group offers $10 billion YUKOS rescue plan

Dubai group offers $10 billion YUKOS rescue plan

A Dubai-based group made up of members of the Gulf State's Maktoum ruling family has emerged with $10 billion to bail-out for troubled Russian oil giant YUKOS, London's Sunday Times newspaper reported.
Published 09 Aug, 2004 12:00am
Spain seeks investment in power and gas distribution

Spain seeks investment in power and gas distribution

Spain is seeking ways to increase investment in its electricity and gas distribution systems but will not introduce big changes to the way they are run, Industry Ministry Jose Montilla said in an interview published on Sunday.
Published 09 Aug, 2004 12:00am
'Soft patch' complicates US Fed policy plans

'Soft patch' complicates US Fed policy plans

The Federal Reserve's job just got a bit more complicated. With Friday's release of disappointing jobs data for July, the US central bank's plan to lift the federal funds rate to a non-inflationary neutral level at a measured pace may not be as simple to
Published 09 Aug, 2004 12:00am
Purchase of US assets by Asian banks comes under scrutiny

Purchase of US assets by Asian banks comes under scrutiny

Voracious purchases of US Treasury bills by Asian central banks are coming under scrutiny ahead of presidential elections amid concerns over national security and a ballooning current account deficit.
Published 09 Aug, 2004 12:00am
Purchase of US assets by Asian banks comes under scrutiny

Purchase of US assets by Asian banks comes under scrutiny

Voracious purchases of US Treasury bills by Asian central banks are coming under scrutiny ahead of presidential elections amid concerns over national security and a ballooning current account deficit.
Published 09 Aug, 2004 12:00am
Jiabao calls to bolster, improve macro controls

Jiabao calls to bolster, improve macro controls

Chinese Premier Wen Jiabao has called for the strengthening and improvement of macroeconomic control measures, in the latest sign that Beijing is not yet confident that its steaming economy has been sufficiently cooled.
Published 09 Aug, 2004 12:00am
Singapore's economy to grow 8-9 percent: Goh

Singapore's economy to grow 8-9 percent: Goh

Singapore Prime Minister Goh Chok Tong lifted the nation's 2004 economic growth forecast to 8-9 percent from 5.5-7.5 percent Sunday and said the buoyant projection made it the perfect time for him to stand down.
Published 09 Aug, 2004 12:00am
Siemens chief calls for greater German investment in Asia

Siemens chief calls for greater German investment in Asia

The head of engineering giant Siemens called on fellow German industrialists to step up their investment in the sizzling markets of Asia or risk slipping farther behind, in an interview to be published Monday.
Published 09 Aug, 2004 12:00am
Thai energy giant seals deal with Myanmar

Thai energy giant seals deal with Myanmar

Thai state-energy firm PTTEP International Ltd has signed a multi-million dollar deal with military ruled Myanmar to explore and develop two new off-shore gas sites, Myanmar energy officials said Sunday.
Published 09 Aug, 2004 12:00am
Turkey sees three-year standby deal with IMF

Turkey sees three-year standby deal with IMF

Turkey is likely to seek a standby agreement with the International Monetary Fund (IMF) for a three-year period once the current funding programme expires, Economy Minister Ali Babacan said on Sunday.
Published 09 Aug, 2004 12:00am
Egypt interbank rate steady

Egypt interbank rate steady

The median overnight rate on Egypt's pound was unchanged at 7 percent on Sunday as traders said they were awaiting the result of a central bank bond auction that would drain some cash from the market.
Published 09 Aug, 2004 12:00am
Cairo shares hit lifetime high on OCI stock split

Cairo shares hit lifetime high on OCI stock split

Egyptian shares reached an all-time high on Sunday as news of a stock split in Orascom Construction Industries (OCI) and rumours that Orascom Telecom (OT) may follow suit boosted the shares, traders said.
Published 09 Aug, 2004 12:00am
South African stocks: Old Mutual eyed

South African stocks: Old Mutual eyed

Life insurer Old Mutual Plc's half-year results and an interest rate-setting meeting in the United States will be the key focus of the South African stock market this week, traders and fund managers said.
Published 09 Aug, 2004 12:00am
Hong Kong shares to rise but oil, rates a worry

Hong Kong shares to rise but oil, rates a worry

Hong Kong shares are expected to rise above 12,500 points for the first time in almost four months this week on hopes of robust corporate earning reports.
Published 09 Aug, 2004 12:00am
Tokyo stocks expected to drop, oil prices weigh

Tokyo stocks expected to drop, oil prices weigh

Japanese stocks are expected to drop this week as high oil prices and another big sell-off on Wall Street conspire against a generally positive domestic outlook.
Published 09 Aug, 2004 12:00am
Rates and oil to write script for US stocks

Rates and oil to write script for US stocks

Wall Street's focus will be squarely on the Federal Reserve's interest-rate decision this week after weak jobs data raised questions about the pace of future hikes, while concerns about oil prices near $45 a barrel are likely to keep US stocks under press
Published 09 Aug, 2004 12:00am
Oil rise: forex risk for emerging market importers

Oil rise: forex risk for emerging market importers

The latest surge in global oil prices could put pressure on the currencies of some crude importing emerging market countries by raising the risk of bigger current account deficits and weaker growth.
Published 09 Aug, 2004 12:00am
Oil rise: forex risk for emerging market importers

Oil rise: forex risk for emerging market importers

The latest surge in global oil prices could put pressure on the currencies of some crude importing emerging market countries by raising the risk of bigger current account deficits and weaker growth.
Published 09 Aug, 2004 12:00am
Taiwan stocks seen stalled on results

Taiwan stocks seen stalled on results

Taiwan stocks are unlikely to attract bargain hunters this week despite a slide to tempting levels as weakening monthly revenue figures and fears of cautious forecasts on third quarter results keep investors sidelined.
Published 09 Aug, 2004 12:00am
Indian shares seen lower on inflation

Indian shares seen lower on inflation

Indian financial markets are seen choked by inflation worries this week but traders expect bonds to start firmer after the central bank governor said spiralling inflation was not due to demand pressures in the economy.
Published 09 Aug, 2004 12:00am
France's Ubi Soft set to bid for Eidos

France's Ubi Soft set to bid for Eidos

French publisher Ubi Soft Entertainment is set to offer 215 million pounds ($391.8 million) for British computer game firm Eidos Plc, The Sunday Telegraph reported.
Published 09 Aug, 2004 12:00am
France's Ubi Soft set to bid for Eidos

France's Ubi Soft set to bid for Eidos

French publisher Ubi Soft Entertainment is set to offer 215 million pounds ($391.8 million) for British computer game firm Eidos Plc, The Sunday Telegraph reported.
Published 09 Aug, 2004 12:00am
Eurostocks: spotlight fixed on oil

Eurostocks: spotlight fixed on oil

Fears about the impact of high oil prices will continue at forefront of the market's psyche this week and investors will scour Lufthansa and British Airways results to see just how bad that impact will be.
Published 09 Aug, 2004 12:00am
UK stocks focus on banks consolidation

UK stocks focus on banks consolidation

As consolidation in the crowded British banking industry hots up, with fresh talk of a bid for Barclays lifting the sector, investors will be eyeing likely candidates for a take-over this week.
Published 09 Aug, 2004 12:00am
Seven Iranians killed in gas explosion

Seven Iranians killed in gas explosion

Seven coal miners have been killed and eight others injured in an underground explosion in the northern Caspian Sea province of Mazandaran, the Iranian Red Crescent said Sunday.
Published 09 Aug, 2004 12:00am
Fears of famine as locusts advance across West Africa

Fears of famine as locusts advance across West Africa

Nearly a million people in West Africa face famine unless they get international aid to battle swarms of locusts devouring their crops in the region's worst plague in 15 years, farmers and government experts warned.
Published 09 Aug, 2004 12:00am
Pacific summit ends endorsing plans on AIDS

Pacific summit ends endorsing plans on AIDS

Sixteen Pacific nations, among the smallest and poorest in the world, ended an annual summit here Saturday after endorsing a plan to fight HIV/AIDS and agreeing to find a way to help bankrupt Nauru.
Published 09 Aug, 2004 12:00am
Rebels to attend Ivory Coast cabinet meeting

Rebels to attend Ivory Coast cabinet meeting

For the first time in four months, rebels in Ivory Coast are to attend a cabinet meeting on Monday as a first step toward re-launching the moribund peace process in the divided west African state.
Published 09 Aug, 2004 12:00am
Norway could help Nato train Iraqi army

Norway could help Nato train Iraqi army

Norway could help train Iraqi army officers at Nato's Joint Warfare Centre (JWC) near the western city of Stavanger, daily newspaper Dagbladet said on Sunday.
Published 09 Aug, 2004 12:00am
Singapore Premier bids farewell as leader

Singapore Premier bids farewell as leader

Singapore's prime minister of 14 years, Goh Chok Tong, bid farewell to the nation on Sunday in an address that identified some of his successor's main challenges from a chronic baby shortage to jobs vanishing to China.
Published 09 Aug, 2004 12:00am
Nigeria helps UK fund Zimbabwe's opposition

Nigeria helps UK fund Zimbabwe's opposition

Nigeria is being used by Britain as a conduit to bankroll Zimbabwe's main opposition in a bid to unseat President Robert's Mugabe's government in next year's legislative elections, a state-owned paper said Sunday.
Published 09 Aug, 2004 12:00am
Cloudburst in flood-hit India traps 20 workers

Cloudburst in flood-hit India traps 20 workers

At least 20 workers were trapped in a tunnel after a torrential downpour in a remote Indian Himalayan region on Sunday as waters receded in other parts of South Asia after the worst flooding in 15 years.
Published 09 Aug, 2004 12:00am
Former SPD chief threatens to form new German party

Former SPD chief threatens to form new German party

Former German finance minister Oskar Lafontaine threatened on Sunday to help form a breakaway left-wing party if Chancellor Gerhard Schroeder persists with benefit cuts that are sparking protests around the country.
Published 09 Aug, 2004 12:00am
US faces battle over Guantanamo detainees

US faces battle over Guantanamo detainees

The United States is struggling to convince governments, lawyers and human rights activists that everything at its Guantanamo 'war on terror' detention camp is above board.
Published 09 Aug, 2004 12:00am
26 migrants die off Italian coast: police

26 migrants die off Italian coast: police

At least 26 African immigrants died trying to reach Italy in a rickety wooden boat, police said on Sunday, citing accounts from some of the survivors rescued by a merchant ship off the Sicilian coast.
Published 09 Aug, 2004 12:00am
UK police to quiz terror suspects for longer

UK police to quiz terror suspects for longer

British police will continue to question nine men arrested in anti-terror raids across the country earlier this week after a court granted a custody extension on Sunday, a police spokeswoman said.
Published 09 Aug, 2004 12:00am
Iran and North Korea have advanced on nuclear arms

Iran and North Korea have advanced on nuclear arms

Intelligence officials and nuclear experts say Iran and North Korea have both made "significant progress" developing nuclear weapons programmes in the past year, the New York Times reported on Sunday.
Published 09 Aug, 2004 12:00am
US apologises to Taiwan over diplomat fingerprint blunder

US apologises to Taiwan over diplomat fingerprint blunder

The United States has apologised to Taiwan after the island's de facto ambassador to Washington was fingerprinted and photographed upon arrival in the country, despite his diplomatic status, an official said Sunday.
Published 09 Aug, 2004 12:00am
Kerry seeks to close Democrats' 'religion gap'

Kerry seeks to close Democrats' 'religion gap'

Democratic presidential nominee John Kerry has begun speaking more openly about his faith, a move political experts say is crucial to chipping away at President George W. Bush's advantage among churchgoers.
Published 09 Aug, 2004 12:00am
Clashes in Indian state over anti-terror law

Clashes in Indian state over anti-terror law

At least 30 people were injured in fresh clashes on Sunday between demonstrators and security forces in India's troubled Manipur state, where people have taken to the streets against an anti-terror law.
Published 09 Aug, 2004 12:00am
Gujarat gang rape victim eyes justice

Gujarat gang rape victim eyes justice

A Muslim woman gang-raped during 2002 religious riots in the Indian state of Gujarat voiced hope on Sunday that thousands of fellow victims would finally see justice after her case was shifted to another location to ensure a fair trial.
Published 09 Aug, 2004 12:00am
Sistani admitted to London hospital

Sistani admitted to London hospital

Shias most revered cleric, Grand Ayatollah Ali Sistani, was admitted to a London hospital, according to a statement Sunday from the cleric's Najaf office.
Published 09 Aug, 2004 12:00am
Darfur rebels have ties to Israel: Sudan

Darfur rebels have ties to Israel: Sudan

Sudan said on Sunday leaders of a rebel group in its western Darfur region were making regular visits to Israel and ties with the Jewish state had caused a split in rebel ranks.
Published 09 Aug, 2004 12:00am
Israel approves new homes for West Bank settlement

Israel approves new homes for West Bank settlement

Israel has approved the construction of 200 new homes in a major Jewish settlement in the West Bank, Israeli officials said on Sunday, despite US opposition to expanding enclaves on occupied land.
Published 09 Aug, 2004 12:00am
10 killed in Syria taxi collision

10 killed in Syria taxi collision

Ten people were killed when two taxis collided on a highway south of Damascus, Syria's official al-Thawra newspaper said on Sunday.
Published 09 Aug, 2004 12:00am
Capitol among new US terror targets

Capitol among new US terror targets

The United States has received information about additional possible terror targets in the country, including the US Capitol in Washington, a counter-terror official said on Sunday.
Published 09 Aug, 2004 12:00am
Relationship marketing at Leather Field

Relationship marketing at Leather Field

Patterns of international trade and competition have been changing dramatically in recent decades. Basically, geographical and cultural distances have shrunk significantly with the advent of jet planes, fax machines, internet, global computers and telepho
Published 09 Aug, 2004 12:00am
Getting ready for WTO era challenges

Getting ready for WTO era challenges

Pakistan is a member of the World Trade Organisation (WTO), which is the international organisation dealing with the rules of trade between nations. The goal of WTO is to help producers of goods and services, exporters, and importers conduct their busines
Published 09 Aug, 2004 12:00am
Pakistan Leather & Leather Garments Industry

Pakistan Leather & Leather Garments Industry

Federation of Pakistan Chamber of Commerce & Industry is keeping up its appreciable tradition of awarding trophies (this being 26th) to best export performers in different fields. As always, it is graceful and prestigious event. It is always very well org
Published 09 Aug, 2004 12:00am
To be the Best in the Show Means a lot to us!

To be the Best in the Show Means a lot to us!

A company renowned enormously throughout the leather industry within the country and internationally is known as Leather Field (Pvt) Ltd It is outfitted with expert artisans, latest and reliable machinery for the manufacturing of leather apparels which ar
Published 09 Aug, 2004 12:00am
Sadaqat - Adding Quality to Life

Sadaqat - Adding Quality to Life

The Company Established in 1951 made strides and shown excellent performance in the recent years and have achieved remarkable successes by virtue of its specialisation in the field of Textile Fabrics & Made ups:
Published 09 Aug, 2004 12:00am
Siddiqsons Group of Companies - Siddiqsons Denim Mills Limited

Siddiqsons Group of Companies - Siddiqsons Denim Mills Limited

The pioneers of Denim Fabrics in the region Siddiqsons Group of companies established in 1959 at Karachi, located on the bank of Arabian Sea. Today Siddiqsons Group is the top manufacturer & exporter of Denim Fabric from Pakistan around the
Published 09 Aug, 2004 12:00am
Royal Group

Royal Group

We stand in gratitude to accept the honour and recognition being bestowed upon us as award winning exporters from Pakistan for the second consecutive year.
Published 09 Aug, 2004 12:00am
Co Co Traders (Pvt) Limited

Co Co Traders (Pvt) Limited

The Company with 100 years of family experience started the export of Natural sausage casings to all over the world. Mr Ramzan's family entered in this business during the II world war is today earning substantial foreign exchange for our country.
Published 09 Aug, 2004 12:00am
Afroze Textile: serving the world's leading brand

Afroze Textile: serving the world's leading brand

It was in 1973 that a man with a vision established a modest textile unit in Karachi. Today it's a company with annual exports exceeding US $85 million serving the world's leading brands.
Published 09 Aug, 2004 12:00am
Afroze Textile: entered the new century with a promising future

Afroze Textile: entered the new century with a promising future

Mr Mahboo Alam Lari (Late) established Afroze Textile Industries (Pvt) Limited, a textile unit in 1973. Initially, the company started as towel manufacturer. Export bound, the products soon earned recognition and acknowledgements from all over.
Published 09 Aug, 2004 12:00am
Overseas Pardesi Group: an overview

Overseas Pardesi Group: an overview

Overseas Pardesi group is in the field of Textile Exports since the last three decadeseand has been regularly receiving export trophies for their remarkable performance in this sector.
Published 09 Aug, 2004 12:00am
An Interview with Mustafa Majeed Pardesi

An Interview with Mustafa Majeed Pardesi

Mustafa Majeed Pardesi has inherited the business instincts from his father Haji Abdul Majeed Pardesi. This young individual has completed his studies from American university, and has emerged as an outstanding businessman exploring new horizons of export
Published 09 Aug, 2004 12:00am
Main Akther & Company - Man Behind Overseas Pardesi Group

Main Akther & Company - Man Behind Overseas Pardesi Group

Pakistan being an agricultural country with Cotton being the Cash crop and backbone of the economy shall be placed upon immense importance. Textile Industry is the principal Industrial Sector earning about 68% of the total exports of Pakistan, and is boun
Published 09 Aug, 2004 12:00am
Efforts and hardworking made it possible

Efforts and hardworking made it possible

I am very thankful to Almighty Allah on this happiest occasion and then my production employees from the top level to the end whose efforts and hard working made it possible for Silver Textile Factory to be Export Trophy Winner.
Published 09 Aug, 2004 12:00am
Corporate overview - Mian Akbar Trading Corporation

Corporate overview - Mian Akbar Trading Corporation

Mian Akbar Trading Corporation is known as one of the leading export house in Pakistan in the field of Textiles, Made-ups, industrial Machinery Parts & Accessories. Since its establishment, the company is progressing will under the dynamic and able leader
Published 09 Aug, 2004 12:00am
International Industries Limited - Commitment to Excellence

International Industries Limited - Commitment to Excellence

Established in 1948 as Sultan Chinoy & Company, the company was later incorporated as International Industries Limited. Having gone through several intermediary stages and carrying on various businesses including being managing agents, distributors and tr
Published 09 Aug, 2004 12:00am
The Capital Market in Pakistan

The Capital Market in Pakistan

The capital markets in Pakistan have witnessed a substantial improvement since 1999-2000. With the spectacular performance of the KSE 100 index, which crossed 5600 points in April 2004, (doubling the January 2003 level) and market capitalisation increasin
Published 09 Aug, 2004 12:00am
Message from President FPCCI

Message from President FPCCI

The FPCCI Export Trophy Awards have become a symbol of pride and a target to be achieved by the exporters. The FPCCI Export Trophy Awards have not only earned recognition at both national and international levels but also have become a label of quality an
Published 09 Aug, 2004 12:00am
Message from Balochistan Governor

Message from Balochistan Governor

I am glad to learn that the Federation of Pakistan Chambers of Commerce & Industry is holding its 27th FPCCI Export Trophy Awards Ceremony. The Export Trophy Awards not only recognise the outstanding achievements of the leading exporters but also promote
Published 09 Aug, 2004 12:00am
Message from NWFP Governor

Message from NWFP Governor

I am glad to know that the Federation of Pakistan Chambers of Commerce & Industry is holding its 27th FPCCI Export Trophy Awards Ceremony and bringing out Export Trophy Souvenir. I consider it a big stride towards promotion of export in Pakistan.
Published 09 Aug, 2004 12:00am
Message from Punjab Governor

Message from Punjab Governor

It gives me immense pleasure to congratulate to Federation of Pakistan Chambers of Commerce & Industry for carrying its tradition of awarding export trophies to the best exporters of the country.
Published 09 Aug, 2004 12:00am
Message from Sindh Governor

Message from Sindh Governor

I am pleased to note that the Federation of Pakistan Chambers of Commerce & Industry is organising 27th FPCCI Export Trophy Awards for the leading exporters of 2002-2003. The FPCCI Export Trophy Awards has earned recognition at national and international
Published 09 Aug, 2004 12:00am