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Print - 2004-08-17
Hardliners will make Iran miss growth target: government

Hardliners will make Iran miss growth target: government

Iran will miss its eight percent economic growth target because Hardliners are halting a vital economic liberalisation package, Iran's government spokesman Abdollah Ramazanzadeh said on Monday.
Published 17 Aug, 2004 12:00am
Sweden signals rates on hold as CPI in line

Sweden signals rates on hold as CPI in line

Swedish inflation is likely to be in line with the central bank's target over the next two years, Riksbank governor Lars Heikensten said on Monday, firming market expectations of no change in interest rates this week.
Published 17 Aug, 2004 12:00am
Allianz sticks to bank breakeven, sees lower profit

Allianz sticks to bank breakeven, sees lower profit

German financial giant Allianz kept its goal of ending a three-year losing streak at its banking business in 2004 but predicted group profits would decline in the second half.
Published 17 Aug, 2004 12:00am
Allianz sticks to bank breakeven, sees lower profit

Allianz sticks to bank breakeven, sees lower profit

German financial giant Allianz kept its goal of ending a three-year losing streak at its banking business in 2004 but predicted group profits would decline in the second half.
Published 17 Aug, 2004 12:00am
Asian government Linux alliance close to software launch

Asian government Linux alliance close to software launch

A North Asian government alliance to promote the Linux operating system and reduce dependence on Microsoft's Windows plans to release its first products for China in six months, a senior official said on Monday.
Published 17 Aug, 2004 12:00am
Taiwan stocks finish at 15-month low

Taiwan stocks finish at 15-month low

Taiwan stocks closed down 0.7 percent and turnover dipped to a 15-month low on Monday, weighed by concerns over rising oil prices and fears of poor corporate earnings in the remainder of the interim reporting season.
Published 17 Aug, 2004 12:00am
Chinese shares tumble

Chinese shares tumble

China shares closed down 1.02 percent on Monday after hitting their lowest levels in nearly nine months as selling in technology companies overwhelmed a weak bounce by top steel maker Baosteel.
Published 17 Aug, 2004 12:00am
Seoul shares decline, Hyundai Motor rises

Seoul shares decline, Hyundai Motor rises

South Korean shares closed a fraction lower on Monday, led by steel giant POSCO Co, but bargain-hunting by foreign investors in Hyundai Motor Co helped pare some early losses.
Published 17 Aug, 2004 12:00am
Oil price worries drag Hong Kong blue chips down

Oil price worries drag Hong Kong blue chips down

Hong Kong stocks ended down 1.13 percent on Monday as investors dumped equities on worries that soaring oil prices will restrict global economic growth and corporate profits.
Published 17 Aug, 2004 12:00am
Indian shares marginally lower

Indian shares marginally lower

Indian shares weighed down by spiralling global oil prices while bonds staged a corrective bounce on Monday after the weekend's slide as an anticipated oil price hike did not materialise and the finance minister assured the market that it need not worry a
Published 17 Aug, 2004 12:00am
Thai stocks end eight-day fall as banks rebound

Thai stocks end eight-day fall as banks rebound

Thai stocks rose 1.38 percent on Monday, ending an eight-day falling streak, as bank stocks rebounded and energy firm PTT rose after it reported a strong second-quarter profit, analysts said.
Published 17 Aug, 2004 12:00am
Philippines stocks surge, PLDT leads

Philippines stocks surge, PLDT leads

Philippines stocks finished higher on Monday on the strength of telecom leader PLDT and second-ranked Globe Telecom, but traders said investors remained cautious due to worries over surging oil prices.
Published 17 Aug, 2004 12:00am
Malaysian shares slide on US embassy scare

Malaysian shares slide on US embassy scare

Malaysian shares slid as much as 1.2 percent on Monday, hit by news that suspicious white powder had been found at the US embassy in Kuala Lumpur.
Published 17 Aug, 2004 12:00am
Singapore shares break five-day sell-off

Singapore shares break five-day sell-off

Singapore shares closed very slightly higher on Monday as bargain hunting in select index-heavy blue chips reversed a five-day decline, although oil prices kept overall sentiment depressed.
Published 17 Aug, 2004 12:00am
Sri Lankan stocks sag on retail profit taking

Sri Lankan stocks sag on retail profit taking

Sri Lankan stocks fell on Monday despite retail interest in hotel shares, as investors continued to take profits after the market hit life highs earlier this month, brokers said.
Published 17 Aug, 2004 12:00am
Jakarta stocks plunge on regional bourses

Jakarta stocks plunge on regional bourses

Jakarta shares finished lower on Monday as weaker trading in some regional markets and negative sentiment from soaring oil prices hurt the local bourse.
Published 17 Aug, 2004 12:00am
Nikkei hits three-month closing low on oil price climb

Nikkei hits three-month closing low on oil price climb

The Nikkei share average fell 0.65 percent to a fresh three-month closing low on Monday as crude oil prices again hit record highs, clouding the outlook for the global economy and energy-dependent Japanese companies.
Published 17 Aug, 2004 12:00am
Taiwan dollar ends flat as oil buys weigh

Taiwan dollar ends flat as oil buys weigh

The Taiwan dollar ended flat on Monday as demand for US dollars from oil refiners erased earlier gains that had been spurred by a record US trade deficit.
Published 17 Aug, 2004 12:00am
Swiss franc ends steady after dollar sell-off

Swiss franc ends steady after dollar sell-off

The Swiss franc was little changed against the dollar on Monday as concerns about the health of the US economy were stoked by a record US trade deficit and oil prices setting new highs above $46.
Published 17 Aug, 2004 12:00am
Hong Kong dollar pares early gains

Hong Kong dollar pares early gains

The Hong Kong dollar pared early gains against the US currency on Monday afternoon, with some investors still being lured by comparatively higher US interest rates.
Published 17 Aug, 2004 12:00am
Dollar dips on US trade gap, record oil prices

Dollar dips on US trade gap, record oil prices

The dollar slipped to a new four-week low against the euro on Monday on renewed concerns about a possible slowdown in the US economy after the US trade gap widened and as oil prices struck fresh record highs.
Published 17 Aug, 2004 12:00am
Record oil prices block gains made by Asian currencies

Record oil prices block gains made by Asian currencies

Asian currencies unwound early gains made on a record US trade deficit as the market returned to worries about record oil prices posing a threat to inflation and growth in the region.
Published 17 Aug, 2004 12:00am
Australian dollar hovers above 71.5 cents

Australian dollar hovers above 71.5 cents

The Australian dollar came within a whisker of 72 US cents on Monday, hitting its highest level in nearly a month as the greenback fell out of favour in the wake of disappointing trade data.
Published 17 Aug, 2004 12:00am
Bangladeshi taka ends little changed

Bangladeshi taka ends little changed

The Bangladeshi taka ended little changed on Monday at 59.31/59.3350 per dollar, against 59.30/59.3450 on Sunday.
Published 17 Aug, 2004 12:00am
Chinese yuan notches weaker

Chinese yuan notches weaker

The yuan ended one notch weaker at 8.2769 per US dollar on Monday, near the stronger end of its managed trading range.
Published 17 Aug, 2004 12:00am
Edwards doping fate to be decided on August 17

Edwards doping fate to be decided on August 17

World 100 metres champion Torri Edwards will learn on Tuesday if she will be able to compete in the Athens Olympics after a positive test for the stimulant nikethamide.
Published 17 Aug, 2004 12:00am
China, Australia and Japan lead the table as US lags behind

China, Australia and Japan lead the table as US lags behind

Australian swimmer Ian Thorpe beat American arch-rival Michael Phelps in the men's 200-metre freestyle on Monday as China, Australia and Japan led the United States in the medals table on day three of the Olympic Games.
Published 17 Aug, 2004 12:00am
Judo officials seek evidence of Iranian snub

Judo officials seek evidence of Iranian snub

Olympic judo officials said on Monday they needed more evidence before any action could be taken against Iran for an apparent political boycott of a bout with an Israeli.
Published 17 Aug, 2004 12:00am
Iran warns Iraq over missing diplomat

Iran warns Iraq over missing diplomat

Iran warned the Iraqi government Monday that it was taking "very seriously" the matter of an Iranian diplomat held hostage in Iraq and threatened with "punishment" by his captors.
Published 17 Aug, 2004 12:00am
Suspicious powder found at US embassy in Malaysia

Suspicious powder found at US embassy in Malaysia

An envelope containing suspicious white powder and threats against Americans was delivered to the US embassy in Malaysia, prompting health checks on three staff, the embassy and police said on Monday.
Published 17 Aug, 2004 12:00am
Pope offers to mediate for Najaf

Pope offers to mediate for Najaf

The Vatican has offered to mediate to avoid further bloodshed and destruction in the besieged Shia holy city of Najaf, stronghold of rebel leader Moqtada Sadr, the Vatican said Monday.
Published 17 Aug, 2004 12:00am
Self-immolator dies for anti-army protest in India

Self-immolator dies for anti-army protest in India

A student who torched himself to protest the Indian army's sweeping powers in the troubled north-eastern state of Manipur died on Monday in the first death in a month of street protests, police said.
Published 17 Aug, 2004 12:00am
EU nations slam Sri Lankan Tamil Tiger rebels

EU nations slam Sri Lankan Tamil Tiger rebels

European Union nations criticised Sri Lanka's Tamil Tiger rebels Monday for killing rivals and recruiting child soldiers, appealing to the guerrillas not to undermine the Island's Norwegian-led peace bid.
Published 17 Aug, 2004 12:00am
Maldives reform plans shelved after protest

Maldives reform plans shelved after protest

Plans to discuss democratic reform in the Maldives were put on hold indefinitely on Monday, after the tiny resort island nation declared an emergency and rounded up activists following a rare mass demonstration.
Published 17 Aug, 2004 12:00am
Chirac meets Algerian president to deepen ties

Chirac meets Algerian president to deepen ties

French President Jacques Chirac met his Algerian counterpart Abdelaziz Bouteflika on Monday to discuss ties between their countries which have been getting noticeably deeper recently in the face of resentment.
Published 17 Aug, 2004 12:00am
Americans in Afghan trial ask FBI for documents

Americans in Afghan trial ask FBI for documents

Three Americans standing trial in Afghanistan on Monday for imprisoning and torturing Afghans were given a week to provide evidence, which they say was withheld by US authorities, proving that they had official clearance.
Published 17 Aug, 2004 12:00am
Iran will go ahead with nuclear programme: Khamenei

Iran will go ahead with nuclear programme: Khamenei

Iran is determined to proceed with its nuclear programme despite international concern, supreme leader Ayatollah Ali Khamenei has insisted, the state news agency IRNA reported Monday.
Published 17 Aug, 2004 12:00am
School children among 22 killed in Indian blasts

School children among 22 killed in Indian blasts

Separatist rebels killed 22 people, many of them school children, in India on Sunday and wounded dozens in bomb and grenade attacks on independence day ceremonies in the troubled north-east and disputed Kashmir.
Published 17 Aug, 2004 12:00am
Bush announces military pull out from Asia and Europe

Bush announces military pull out from Asia and Europe

The United States will withdraw 60,000 to 70,000 troops from Europe and Asia over the next decade, President George W. Bush said Monday as he announced the biggest military reorganisation since the end of World War II.
Published 17 Aug, 2004 12:00am
Two dead as Georgia cease-fire crumbles

Two dead as Georgia cease-fire crumbles

Two Georgian servicemen were killed and other casualties were reported Monday, officials said, in clashes that left a fragile three-day-old ceasefire in the breakaway region of South Ossetia in tatters.
Published 17 Aug, 2004 12:00am
UN needs to do more to win over Arabs: official

UN needs to do more to win over Arabs: official

The United Nations needs to do more to win over Arabs and distance itself from a political climate which is corroding its reputation for neutrality, a senior UN official said on Monday.
Published 17 Aug, 2004 12:00am
Speed up Saddam's trial, Allawi tells court

Speed up Saddam's trial, Allawi tells court

Interim Prime Minister Iyad Allawi urged an Iraqi court on Monday to speed up proceedings against toppled leader Saddam Hussein and his close aides.
Published 17 Aug, 2004 12:00am
North Korea shuns atomic talks, others see posturing

North Korea shuns atomic talks, others see posturing

North Korea ruled out on Monday attending proposed six-way working-level talks on its nuclear arms programmes and questioned the entire negotiating process, blaming hostile US policy for Pyongyang's tougher stance.
Published 17 Aug, 2004 12:00am
Israel seeks to break Palestinian hunger strike

Israel seeks to break Palestinian hunger strike

Israel declared psychological war on hunger-striking Palestinian prisoners on Monday, saying it would barbecue meat outside their cells to try to break their spirit.
Published 17 Aug, 2004 12:00am
Tanzanian leader slams West's lectures on democracy

Tanzanian leader slams West's lectures on democracy

Tanzanian President Benjamin Mkapa rounded on Western powers on Monday, saying Africans were tired of preaching by countries that denied them democratic rights in their colonial past.
Published 17 Aug, 2004 12:00am
Chavez declares victory, foes claim fraud

Chavez declares victory, foes claim fraud

Venezuela's left-wing President Hugo Chavez on Monday declared victory in a historic recall referendum on his rule, but his opponents vowed to challenge vote results they rejected as a "gigantic fraud."
Published 17 Aug, 2004 12:00am
Sterling dips against dollar

Sterling dips against dollar

Sterling slipped against the dollar after touching a three-week high on Monday as a rebound in US capital inflows data lifted the greenback, with the pound still subdued by dwindling British rate hike expectations.
Published 17 Aug, 2004 12:00am
Dollar drifts above four-week low against euro

Dollar drifts above four-week low against euro

The dollar dipped to a four-week low against the euro on Monday before rising slightly on profit-taking, as steep oil prices and weak US data continued to fan worries about the health of the world's largest economy.
Published 17 Aug, 2004 12:00am
Indian rupee slips to one-week low

Indian rupee slips to one-week low

The Indian rupee gave up last week's gains to end at a one-week closing low on Monday as local refiners worried by crude oil's continuing upward spiral stepped up their dollar purchases, dealers said.
Published 17 Aug, 2004 12:00am
Autos and telecoms bonds inch tighter

Autos and telecoms bonds inch tighter

Telecom and auto bonds inched slightly tighter in the European corporate bond markets on Monday, thanks to strong equity markets and oil prices easing from new record highs.
Published 17 Aug, 2004 12:00am
Autos and telecoms bonds inch tighter

Autos and telecoms bonds inch tighter

Telecom and auto bonds inched slightly tighter in the European corporate bond markets on Monday, thanks to strong equity markets and oil prices easing from new record highs.
Published 17 Aug, 2004 12:00am
FTSE-100 ends on high note as oil price brings relief

FTSE-100 ends on high note as oil price brings relief

A late surge drove Britain's FTSE-100 higher on Monday as a dip in oil prices brought relief to investors on both sides of the Atlantic and as bid talk invigorated shares in Shell.
Published 17 Aug, 2004 12:00am
New York cotton mostly higher

New York cotton mostly higher

NYBOT cotton futures settled mostly higher Monday on buying by small speculators in quiet dealings as the US cotton belt escaped the fury of Hurricane Charley, with bearish fundamentals keeping a lid on advances in fibre contracts, dealers said.
Published 17 Aug, 2004 12:00am
Gold firms and platinum at four-month peak

Gold firms and platinum at four-month peak

Precious metals moved higher in Europe on Monday afternoon, with gold regaining $400.00 an ounce on a weaker dollar, while fund buying lifted platinum to a four-month peak, traders said.
Published 17 Aug, 2004 12:00am
World oil eases from new record

World oil eases from new record

Oil prices eased from record highs on Monday as victory for Venezuelan President Hugo Chavez in a referendum on his rule eased fears that unrest could upset the country's oil exports.
Published 17 Aug, 2004 12:00am
Take your business to greater heights

Take your business to greater heights

CHENAB GROUP: Offering consistent and comprehensive world-class quality products, Chenab Group is the sole creator of wide-ranging world-class quality products that are unmatched in style and longevity.
Published 17 Aug, 2004 12:00am
Message from Chairman

Message from Chairman

Every beginning indicates; evolution and to some extent, reflection, on the future plans and goals, and where we stand in fulfilling them. Through a well-structured plan, through identified growth and value-oriented opportunities and through a deliberate
Published 17 Aug, 2004 12:00am
Growers concerned over lobbying for dams

Growers concerned over lobbying for dams

The leaders of farming community here on Monday at the office of Sindh Abadgar Board expressed serious concern over the lobbying for the construction of dams and said that construction of conventional type of dams would not be a viable solution to overcom
Published 17 Aug, 2004 12:00am
RSF urges MNAs to reject Defamation Bill

RSF urges MNAs to reject Defamation Bill

Reporters Sans Frontiers (Reporters Without Borders), an international organisation which defends press freedom, has urged Pakistan's parliamentarians to reject the government's Defamation Amendment Bill-2004.
Published 17 Aug, 2004 12:00am
Indonesia on the road of economic reforms

Indonesia on the road of economic reforms

Indonesia has entered a new era of democratisation and political stability with the completion of the general election of its multi-level Parliaments in April 5th.
Published 17 Aug, 2004 12:00am
SBP Governor's briefing

SBP Governor's briefing

In the last para in column 2 of my letter published in the Business Recorder dated the 13th August,2004 under the above caption, external fund managers' estimated remuneration on the investment of $2.8 billion has inadvertently been published as $1
Published 17 Aug, 2004 12:00am
Drop-box visa industry

Drop-box visa industry

We the genuine travellers to foreign countries have to suffer a lot of inconvenience and pay huge sum of money for visas through the system of the drop box industry initiated by ambitious courier service agents who have strong links with the respective em
Published 17 Aug, 2004 12:00am
Mango diseases

Mango diseases

It has been reported in newspapers that the hundreds and thousands of mango trees in Hyderabad, Mirpurkhas and Sangarh districts have been infected and/or destroyed by an unknown disease/insect pest.
Published 17 Aug, 2004 12:00am
Role of medical universities

Role of medical universities

Speaking of the role of Medical Universities reminds me, of the time when I was a post-graduate student at Queen's University, Belfast.
Published 17 Aug, 2004 12:00am
Tourists urged to rediscover Lebanon

Tourists urged to rediscover Lebanon

The website instructs tourists to "Rediscover Lebanon". It promises beaches, ski slopes, ruins, nightlife - something for everyone packaged in a tiny country more often remembered for its war and kidnappings.
Published 17 Aug, 2004 12:00am
Provincial apathy in the way of home loans

Provincial apathy in the way of home loans

Last week the Sindh government signed an agreement with the National Bank of Pakistan for giving housing loans to its employees. Finance Minister Syed Sardar Ahmad, while initialling the agreement with the NBP President, S. Ali Raza, promised to provide l
Published 17 Aug, 2004 12:00am
Felicitations

Felicitations

Riaz Ahmed Tata, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) welcomed the award of Sitara-i-Imtiaz by President General Pervez Musharraf to four prominent businessmen of the country.
Published 17 Aug, 2004 12:00am
Finnish scholar visits Punjab University

Finnish scholar visits Punjab University

Professor Asko Parpola of South Asian Studies, University of Helsinki, Finland, called on Punjab University (PU) Acting Vice-Chancellor Professor Azhar Ikram Ahmad here on Monday.
Published 17 Aug, 2004 12:00am
Heroin smuggling attempt foiled

Heroin smuggling attempt foiled

Customs, Anti-smuggling Drug Enforcement Cell, aborted an attempt to smuggle heroin worth Rs 10 million abroad and arrested the accused from the Lahore airport.
Published 17 Aug, 2004 12:00am
PBC to observe 'Black Day' on August 18

PBC to observe 'Black Day' on August 18

Pakistan Bar Council (PBC) while announcing to observe black day on Wednesday, August 18, has asked the lawyers community to hoist black flags, wear black strips and passed resolutions against the nomination of Shaukat Aziz as Prime Minister of Pakistan.
Published 17 Aug, 2004 12:00am
Wheat to mills on weekly basis: Jatoi

Wheat to mills on weekly basis: Jatoi

Sindh Food Minister Arif Mustafa Jatoi has said that wheat will be released, to flour mills on weekly basis to prevent hoarding and sale of wheat.
Published 17 Aug, 2004 12:00am
Rs 5.786 billion for uplift of LDA Avenue-I approved

Rs 5.786 billion for uplift of LDA Avenue-I approved

Governing body of the Lahore Development Authority (LDA) on Monday approved revised estimates to the tune of Rs 5.786 billion for development of LDA Avenue-I, an housing scheme for government employees here at Raiwind Road.
Published 17 Aug, 2004 12:00am
Handlooms technology institute upgraded

Handlooms technology institute upgraded

Institute of Handlooms Textile Technology (IHTT), Multan, has been upgraded to the status of University College of Textile Engineering.
Published 17 Aug, 2004 12:00am
APFTU seeks raise in wages

APFTU seeks raise in wages

The All Pakistan Federation of Trade Unions (APFTU) has called upon the government to amend the Industrial Relations Ordinance and Presidential Ordinance 2000 and also increased the wages of workers.
Published 17 Aug, 2004 12:00am
Wapda chief inspects maintenance works

Wapda chief inspects maintenance works

Wapda chairman Tariq Hamid inspected the maintenance work pertaining to the shifting of electric poles placed in the consumers premises, here in the Township area on Monday.
Published 17 Aug, 2004 12:00am
LSE labour union gives strike call for August 18

LSE labour union gives strike call for August 18

Office-bearers of the Shaheen Labour Union in the Lahore Stock Exchange (LSE) have given a strike call for Wednesday to press the LSE management for acceptance of their demands.
Published 17 Aug, 2004 12:00am
LSE members briefed about PSAF public offer

LSE members briefed about PSAF public offer

Representatives of Arif Habib Investments made a presentation at Lahore Stock Exchange (LSE) on Monday on Pakistan Strategic Allocation Fund (PSAF) being offered to public from August 21 to 24, 2004. The IPO will be available at Rs 10 per unit/certificate
Published 17 Aug, 2004 12:00am
Vaccination drive launched

Vaccination drive launched

The Punjab Livestock Department has launched a vaccination campaign to protect animals and poultry birds from contagious diseases like haemorrhagic septicemia, foot and mouth and new castle.
Published 17 Aug, 2004 12:00am
Support to Lions Club stressed

Support to Lions Club stressed

Pakistan's ambassador to Saudi Arabia, Admiral Abdul Aziz Mirza (Retd) has called upon Pakistanis to lend a hand to Lions Club International for completion of its projects aimed at human welfare, health and education.
Published 17 Aug, 2004 12:00am
EPZs being set up at Multan and Sargodha

EPZs being set up at Multan and Sargodha

Provincial Industries and Investment Minister Muhammad Ajmal Cheema has said that a well-knitted plan has been initiated for further accelerating the pace of export activities in the Punjab.
Published 17 Aug, 2004 12:00am
Sindh governor stresses modification of medical curriculum

Sindh governor stresses modification of medical curriculum

Sindh Governor, Dr Ishratul Ibad Khan has emphasised that no conscientious person can be oblivious to the needs of the community in which he works and it is imperative to change the present medical curriculum to bring it more in line with the true require
Published 17 Aug, 2004 12:00am
Kidney ward at NICH to be operational next year

Kidney ward at NICH to be operational next year

National Institute of Child Health, attending no less than 5,000 patients each month, has embarked upon a major expansion plan under which besides provision of MRI facilities, kidney transplantation for kids reporting with renal failure is also envisaged.
Published 17 Aug, 2004 12:00am
Kashmiris observe 'Black Day'

Kashmiris observe 'Black Day'

Kashmiris on Sunday observed India's Independence Day as 'Black Day'. Protest rallies and processions were held across Indian occupied and Azad Jammu and Kashmir to express hatred against Indian occupation of homeland.
Published 17 Aug, 2004 12:00am
'Fata uplift allocations register constant growth'

'Fata uplift allocations register constant growth'

Chief Engineer Fata, Amir Shahbaz Khan in an exclusive interview with APP here on Monday said that development allocations of Fata registered constant upward growth since 2000-01 because of the interest and attention paid by the NWFP Governor, Lieutenant
Published 17 Aug, 2004 12:00am
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