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Nov 15, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-09-07
Philippines stocks close at 42-month high

Philippines stocks close at 42-month high

Philippines shares closed at a three-and-a-half year high on Monday, helped by gains in telecom stocks as market sentiment turned positive with the main index sustaining a rally above the key 1,600 level.
Published 07 Sep, 2004 12:00am
Jakarta shares plunge

Jakarta shares plunge

Jakarta stocks finished lower on Monday as investors locked in gains from the last week's surge, but dealers said the up-trend in the market should continue.
Published 07 Sep, 2004 12:00am
Australian stocks little changed

Australian stocks little changed

Australian stocks struggled to find any momentum on Monday, with the key index finishing barely changed as investors awaited Wall Street to resume trading after the Labour Day long weekend.
Published 07 Sep, 2004 12:00am
Tokyo stocks rise, finish at five-week high

Tokyo stocks rise, finish at five-week high

Japan's Nikkei rose two percent on Monday to a five-week closing high as shipping, steel and auto stocks jumped amid broad buying after a capital spending survey boosted optimism that economic growth figures will be revised up.
Published 07 Sep, 2004 12:00am
Indian rupee ends weaker on dollar's broad gains

Indian rupee ends weaker on dollar's broad gains

The Indian rupee ended weaker for the first time in five sessions on Monday, with dollar buying by oil refiners and gold importers adding to pressure triggered by the greenback's gains overseas on the encouraging US jobs data.
Published 07 Sep, 2004 12:00am
Swiss franc softens versus dollar

Swiss franc softens versus dollar

The Swiss franc was trading at a three-week low against the euro and slipped against the dollar in early European trade on Monday as the US currency was buoyed by last week's solid non-farm payrolls data.
Published 07 Sep, 2004 12:00am
Dollar retreats versus yen but supported by jobs data

Dollar retreats versus yen but supported by jobs data

The dollar pared earlier gains versus the yen on Monday as traders took profits following the US currency's advance last week on positive jobs news that raised prospects for an interest rate rise later this month.
Published 07 Sep, 2004 12:00am
Asian currencies steady as stocks and yen recover

Asian currencies steady as stocks and yen recover

A weaker South Korean won was the notable exception on Monday as most Asian currencies ended barely changed after their stock markets recovered early losses and the Japanese yen bounced off two-week lows.
Published 07 Sep, 2004 12:00am
Australian dollar struggles

Australian dollar struggles

Australian dollar made little progress on Monday, after hitting a 9-week low offshore, as investors brace for a shrinking of the currency's yield advantage on September 21.
Published 07 Sep, 2004 12:00am
Hong Kong dollar weakens

Hong Kong dollar weakens

The Hong Kong dollar weakened and hovered near its pegged rate of 7.80 to the US dollar on Monday afternoon, amid heightened expectations of a rise in US rates and prompting fears of further fund outflows.
Published 07 Sep, 2004 12:00am
Chinese yuan higher

Chinese yuan higher

The yuan closed one notch higher at 8.2765 per US dollar on Monday, near the stronger end of its managed trading range.
Published 07 Sep, 2004 12:00am
Clinton offers hospital bed campaign advice to Kerry

Clinton offers hospital bed campaign advice to Kerry

Ex-president Bill Clinton spent 90 minutes from his hospital bed awaiting a heart bypass operation advising Democratic presidential contender John Kerry how to rejuvenate his campaign, US media reported Monday.
Published 07 Sep, 2004 12:00am
Trial of suspected Rwandan genocide mastermind resumes

Trial of suspected Rwandan genocide mastermind resumes

The trial is due to resume on Monday of the man accused of masterminding the Rwandan genocide in 1994 and of the only woman to have been detained over the massacre by the United Nations court trying the suspects.
Published 07 Sep, 2004 12:00am
Kennedy vows to keep Iraq pressure on Blair

Kennedy vows to keep Iraq pressure on Blair

The only major party leader in Britain to oppose the Iraq war vowed on Monday to keep the issue high in voters' minds as Prime Minister Tony Blair heads towards a national election.
Published 07 Sep, 2004 12:00am
Indonesian court rejects Bashir appeal

Indonesian court rejects Bashir appeal

An Indonesian court on Monday rejected a bid by detained cleric Abu Bakar Bashir, accused of being the spiritual leader of the al Qaeda-linked Jemaah Islamiah network, to be released from jail.
Published 07 Sep, 2004 12:00am
Australian election set to be its biggest gamble

Australian election set to be its biggest gamble

Australians are set to gamble millions of dollars on an October 9 election, but while the conservative government is odds-on favourite some sports-mad punters can smell an upset opposition Labour victory.
Published 07 Sep, 2004 12:00am
Schroeder party vows not to buckle on reforms

Schroeder party vows not to buckle on reforms

German Chancellor Gerhard Schroeder vowed Monday to press on with his tough economic reform drive, despite a fresh state election rout that spells trouble for a string of polls later this month.
Published 07 Sep, 2004 12:00am
Rebel envoy urges Putin to enter into talks

Rebel envoy urges Putin to enter into talks

An envoy of Chechen separatist leader Aslan Maskhadov appealed to President Vladimir Putin to enter into negotiations in an interview with AFP Monday during which he condemned the bloody school hostage-taking in southern Russia as a "monstrous act".
Published 07 Sep, 2004 12:00am
Clinton OK after heart surgery: report

Clinton OK after heart surgery: report

Former US president Bill Clinton is "OK" after heart bypass surgery here on Monday, Fox television network quoted his wife Senator Hillary Clinton as saying, without giving further details.
Published 07 Sep, 2004 12:00am
EU loses a round in fight for Kyoto Protocol

EU loses a round in fight for Kyoto Protocol

The European Union on Monday lost a round in its battle to turn the Kyoto Protocol on global warming from a draft pact into an international treaty.
Published 07 Sep, 2004 12:00am
Fischer urges US and Europe to engage in Middle East

Fischer urges US and Europe to engage in Middle East

German Foreign Minister Joschka Fischer warned Monday that Europe was at a crossroads in the fight against terrorism and must engage in the Middle East or risk having conflict exported to its doorstep.
Published 07 Sep, 2004 12:00am
Seven US marines killed in Falluja

Seven US marines killed in Falluja

A car bomb attack on a US patrol outside the rebel-held city of Falluja on Monday killed seven American marines and three Iraqi National Guardsmen, in the deadliest single attack on US forces in five months. The attack raises the official Pentagon US deat
Published 07 Sep, 2004 12:00am
Seven US marines killed in Falluja

Seven US marines killed in Falluja

A car bomb attack on a US patrol outside the rebel-held city of Falluja on Monday killed seven American marines and three Iraqi National Guardsmen, in the deadliest single attack on US forces in five months. The attack raises the official Pentagon US deat
Published 07 Sep, 2004 12:00am
Malaysia reports new bird flu outbreak

Malaysia reports new bird flu outbreak

Malaysia has been hit by a new outbreak of bird flu, officials announced Monday. The H5 strain of avian flu had killed 30 birds - chickens and quail - on a farm in the north eastern state of Kelantan near Thailand, the veterinary department said.
Published 07 Sep, 2004 12:00am
ICC battles US opposition, budget constraints

ICC battles US opposition, budget constraints

Backers of the International Criminal Court (ICC) called on Monday for the United States to reconsider its opposition to the new global court and urged signatories to pay their dues so it can do its work.
Published 07 Sep, 2004 12:00am
Four Lebanese ministers quit

Four Lebanese ministers quit

Four Lebanese ministers quit the government Monday in protest at a controversial Syrian-inspired constitutional amendment that keeps its protege President Emile Lahoud in power for another three years.
Published 07 Sep, 2004 12:00am
Russia mourns hostage deaths; Putin criticised

Russia mourns hostage deaths; Putin criticised

Grief-stricken mothers and fathers trudged through mud and rain on Monday to bury children slaughtered in a Russian school siege as criticism mounted over the way the Kremlin handled the crisis.
Published 07 Sep, 2004 12:00am
Frances kills 2, new hurricane looms

Frances kills 2, new hurricane looms

Hurricane Frances killed two people in Florida and knocked out power for about three million people, authorities said Monday, as a new storm gathered force in the Atlantic.
Published 07 Sep, 2004 12:00am
'Not yet time' for sanctions against Sudan: UN envoy

'Not yet time' for sanctions against Sudan: UN envoy

The time has not yet come to impose international sanctions against Sudan's government, UN Secretary General Kofi Annan's envoy Jan Pronk said on Monday, calling instead for a large observer mission to its strife-torn, crisis-ridden Darfur region.
Published 07 Sep, 2004 12:00am
China storms leave 90 dead

China storms leave 90 dead

At least 90 people were killed and 77 are missing after some of the worst rainstorms in recent years triggered landslides and flash floods in south-west China, disaster relief officials said on Monday.
Published 07 Sep, 2004 12:00am
Pound struggles against dollar

Pound struggles against dollar

Sterling struggled to keep away from the previous session's 3-month lows against the dollar and euro on Monday, but it didn't get very far as recent mixed data stoked concerns that UK interest rates were nearing their peak.
Published 07 Sep, 2004 12:00am
Dollar rally ebbs in London trade

Dollar rally ebbs in London trade

The dollar eased off recent peaks on Monday as a broad-based rally sparked by stronger than expected US jobs data on Friday ran out of steam in a holiday-thinned market.
Published 07 Sep, 2004 12:00am
US markets closed

US markets closed

US stocks and financial markets remained shut for the Labour Day holiday on Monday. The markets will resume trading on Tuesday.
Published 07 Sep, 2004 12:00am
Bonds: European credit rises, Ericsson rallies

Bonds: European credit rises, Ericsson rallies

European corporate bonds edged higher on Monday, pushing spreads to near record lows, as many investors sat on the sidelines while the United States celebrated the Labour Day public holiday.
Published 07 Sep, 2004 12:00am
Bonds: European credit rises, Ericsson rallies

Bonds: European credit rises, Ericsson rallies

European corporate bonds edged higher on Monday, pushing spreads to near record lows, as many investors sat on the sidelines while the United States celebrated the Labour Day public holiday.
Published 07 Sep, 2004 12:00am
Britain's top share index scores highest close since May

Britain's top share index scores highest close since May

Britain's FTSE-100 index recorded its highest close in four months on Monday, extending a recent winning streak to 11 gains out of the last 12 sessions, with fund managers and other financial shares setting the pace.
Published 07 Sep, 2004 12:00am
Gold holds near three-week low on firm dollar

Gold holds near three-week low on firm dollar

Gold was little changed in Europe on Monday, with sentiment softer after the market fell to its lowest in almost three weeks on Friday as upbeat US jobs data fanned the dollar higher.
Published 07 Sep, 2004 12:00am
LME ends mixed, trade thin due to US holiday

LME ends mixed, trade thin due to US holiday

Base metals business remained slack during Monday afternoon open-outcry trade on the London Metal Exchange (LME), with interest severely curtailed due to the US Labour Day holiday, traders said.
Published 07 Sep, 2004 12:00am
Oil eases as Saudi Arabia offers big discounts

Oil eases as Saudi Arabia offers big discounts

Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its westbound crude sales in an effort to shift the large volumes it is offering to cool world markets. London Brent crude fell 43 cents to $40.80 a barrel. Trade was subdued
Published 07 Sep, 2004 12:00am
Oil eases as Saudi Arabia offers big discounts

Oil eases as Saudi Arabia offers big discounts

Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its westbound crude sales in an effort to shift the large volumes it is offering to cool world markets. London Brent crude fell 43 cents to $40.80 a barrel. Trade was subdued
Published 07 Sep, 2004 12:00am
Balochistan home minister withdraws resignation

Balochistan home minister withdraws resignation

Balochistan home minister, Mir Shoaib Nausherwani, who had announced resignation from his office on Sunday, has taken back his resignation following a meeting with the provincial Chief Minister, Jam Mohammad Yousaf, who called on him at his residence on S
Published 07 Sep, 2004 12:00am
Adviser seeks fund for Mole dam construction

Adviser seeks fund for Mole dam construction

Sindh CM's Advisor Mumtaz Hameed has said he would approach Sindh Governor Dr Ishratul Ibad and Provincial Finance Minister Sardar Ahmed for early release of fund for the construction of Mole dam in Gaddap.
Published 07 Sep, 2004 12:00am
Stay granted against land sales deal

Stay granted against land sales deal

A civil court on Monday granted stay against the owner of a prime residential land at Wafaqi Colony for not honouring land sale agreement.
Published 07 Sep, 2004 12:00am
MoU for academic management signed

MoU for academic management signed

The Commecs Educational Trust has signed a memorandum of understanding with the Pakistan Memon Educational and Welfare Society for the academic management of Sir Adamjee Institute located in Federal 'B' Area here.
Published 07 Sep, 2004 12:00am
'Press freedom contributes towards development'

'Press freedom contributes towards development'

Adviser to the Sindh Chief Minister on Information, Salahuddin Haider has said that the freedom of the press contributes towards the development of the country.
Published 07 Sep, 2004 12:00am
Sherpao rules out imminent arrest of Osama

Sherpao rules out imminent arrest of Osama

Interior Minister Aftab Ahmed Sherpao has said it is a wrong impression that authorities are close to take hold of Osama bin Laden following the arrest of some important al Qaeda elements.
Published 07 Sep, 2004 12:00am
APSEA raises sunflower price to Rs 680 per 40kg

APSEA raises sunflower price to Rs 680 per 40kg

Pakistan Oilseed Development Board (PODB) has been putting in great effort to ensure that produce of oilseed growers was purchased by solvent industry on attractive prices during last three years.
Published 07 Sep, 2004 12:00am
Deregulation paying dividends: Awais

Deregulation paying dividends: Awais

Minister for Information Technology Awais Ahmad Khan Leghari on Monday said telecom sector in Pakistan had gone through a tremendous growth over last four years with a massive investment coming in that area in the wake of deregulation.
Published 07 Sep, 2004 12:00am
Federal cabinet

Federal cabinet

On taking oath, Prime Minister Shaukat Aziz had committed to select his team based on honesty and competence, having resolved to form the cabinet on merit. But he has retained as many as 21 ministers of the former cabinet, most of them not meeting the mer
Published 07 Sep, 2004 12:00am
Holding the gun properly

Holding the gun properly

Many of us have seen that our policemen and other law-enforcement agency personnel, while sitting in a mobile van, often hold their AK-47 gun irresponsibly. They keep the weapon on their thighs while sitting on the rear seats of the van with their gun poi
Published 07 Sep, 2004 12:00am
Musharraf's vision

Musharraf's vision

There was no other option for General Musharraf in the national interest, but to abandon the policy of promoting Jihad, which has been patronised for the past two decades by the State against which the founding fathers had warned the nation.
Published 07 Sep, 2004 12:00am
Hong Kong textile group targets further growth

Hong Kong textile group targets further growth

The Hong Kong company that bought global label Guy Laroche last week says it plans to use the prestigious French brand to spearhead its push into the yet untapped fashion riches of China.
Published 07 Sep, 2004 12:00am
Shortcomings in corporate governance code

Shortcomings in corporate governance code

The President of the World Bank, Wolfensohn J, stated in an article published in the Times of June 21, 1999 "Corporate Governance is about promoting corporate fairness, transparency and accountability."
Published 07 Sep, 2004 12:00am
Wheat flour price to increase

Wheat flour price to increase

According to a news report in the Business Recorder of September 4, the government has decided to increase the issue price of wheat to flour mills by one rupee per kilogram from the existing Rs 8.50 to Rs 9.50 for the current financial year.
Published 07 Sep, 2004 12:00am
Declining trend in agriculture

Declining trend in agriculture

At a meeting of the representatives of growers, mostly the members of the Sindh Abadgar Board, held in Hyderabad the other day, the participants expressed the fear that the agriculture sector in Sindh was on the verge of ruination.
Published 07 Sep, 2004 12:00am
Basheer Janmohammed new CDC chairman

Basheer Janmohammed new CDC chairman

Abdul Wahab Kodvavi has decided to resign as Chairman of Central Depository Company of Pakistan Limited (CDC) after serving the company for nearly four years. He is being replaced by Basheer Janmohammed.
Published 07 Sep, 2004 12:00am
NLR set up for keeping leased assets record

NLR set up for keeping leased assets record

The Leasing Association of Pakistan (LAP) has set up a National Leasing Register (NLR) to maintain record of the models and serial numbers of all assets leased by its members to avoid duplication.
Published 07 Sep, 2004 12:00am
Lawyers to observe protest day on September 7

Lawyers to observe protest day on September 7

Lawyer's community is observing 'protest day' on Tuesday, September 07 in protest against the elevation of judges in the Supreme Court in violation of merit.
Published 07 Sep, 2004 12:00am
Call for making education more need-oriented

Call for making education more need-oriented

Punjab Governor Lieutenant General Khalid Maqbool (Retd) has said the universities must establish a close link with society and industry, to make education more need-oriented.
Published 07 Sep, 2004 12:00am
Shopkeepers warned to avoid illegal profiteering

Shopkeepers warned to avoid illegal profiteering

Hamid Nawaz Raja, Tehsil Nazim, Rawalpindi, has warned the shopkeepers of the weekly bazars to make sure the provision of essential commodities on cheaper rates, besides maintaining the quality of the products.
Published 07 Sep, 2004 12:00am
Business urged to adopt new techniques in transportation

Business urged to adopt new techniques in transportation

The Union of Small & Medium Enterprises (Unisame) had a joint meeting with Khawaja Raffat Zaheer, country representative in Pakistan for International Multimodal Transport Association of Geneva, and Nasir Jamil, logistics expert of Chartered Institute of
Published 07 Sep, 2004 12:00am
Support announced for The Founders

Support announced for The Founders

President Raja Hamid Riaz and General Secretary Nasir Butt of Mall Road Traders Association have announced their full support to The Founders' candidates in the forthcoming elections of the Lahore Chamber of Commerce & Industry (LCCI).
Published 07 Sep, 2004 12:00am
Al-Zamin, Apcea and Smeda to promote gemstone sector: MoU signed

Al-Zamin, Apcea and Smeda to promote gemstone sector: MoU signed

Al-Zamin Leasing Modaraba, All Pakistan Commercial Exporters Association (Apcea) and Small & Medium Enterprises Development Authority (Smeda) have signed a Memorandum of Understanding (MoU) to jointly work for poverty alleviation and promotion of gemstone
Published 07 Sep, 2004 12:00am
'Opposition requisitioned Sindh Assembly session without homework'

'Opposition requisitioned Sindh Assembly session without homework'

Sindh Law and Parliamentary Minister Chaudhry Iftikhar Ahmed said the opposition had lost interest in the ongoing session of the Sindh Assembly as they had requisitioned the session without doing homework on issues of common interest.
Published 07 Sep, 2004 12:00am
Sindh Assembly session prorogued sine die

Sindh Assembly session prorogued sine die

The acting speaker of the Sindh Assembly, Rahila Tiwana, taking advantage of the pandemonium, jointly caused by the treasury and the opposition members over the controversy on a substantive motion, prorogued the session sine die only after 35 minutes of t
Published 07 Sep, 2004 12:00am
Meezan offers variety of Islamic banking products

Meezan offers variety of Islamic banking products

Pakistan is the only country where a variety of Islamic banking products is available at one time, and more products are coming into the market, said speakers at a Meezan Bank branch opening ceremony on Monday.
Published 07 Sep, 2004 12:00am
Punjab chief minister lauded for taking interest in uplift

Punjab chief minister lauded for taking interest in uplift

Secretary General Pakistan Kissan Movement (PKM) Hanif Gujjar has appreciated Chief Minister Punjab for showing interest in the infrastructure development and making the road cess committees more effective.
Published 07 Sep, 2004 12:00am
Rs 1 billion allocated for labour welfare in Punjab: minister

Rs 1 billion allocated for labour welfare in Punjab: minister

Provincial Labour and Human Resources Minister Syed Akhtar Hussain Rizvi has said that the government has allocated more than Rs 1billion during the current fiscal year for undertaking various development projects pertaining to labour welfare in the Punja
Published 07 Sep, 2004 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 07 Sep, 2004 12:00am
FOREIGN TRADE INQUIRIES

FOREIGN TRADE INQUIRIES

Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
Published 07 Sep, 2004 12:00am
Eight water filter plants for Fatehjang soon

Eight water filter plants for Fatehjang soon

Tehsil Nazim Fatehjang Sardar Iftikhar Khan has said his first priority was to ensure provision of clean drinking water to the residents of Fatehjang and all out efforts were being made in that regard.
Published 07 Sep, 2004 12:00am
PTEA pins hopes on new ministers

PTEA pins hopes on new ministers

Widening trade gap of $3.5 billion plus is shedding negative impact on local currency value escalating production cost and adversely affecting exports, and calls for co-ordinated and concentrated efforts by the new team of economic managers in the Cabinet
Published 07 Sep, 2004 12:00am
Poisonous liquor death toll rises to 34

Poisonous liquor death toll rises to 34

The death toll in poisonous liquor case has reportedly risen to 34 as another two persons died in Nishtar Hospital here on early Monday morning.
Published 07 Sep, 2004 12:00am
The Weather

The Weather

The weather report on Monday (September 06) and the forecast for Tuesday (September 07, 2004).
Published 07 Sep, 2004 12:00am
Key stock market movements at 1700 GMT on September 06

Key stock market movements at 1700 GMT on September 06

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 07 Sep, 2004 12:00am
PN fully prepared to meet future challenges, says Naval chief

PN fully prepared to meet future challenges, says Naval chief

By the grace of Almighty Allah the officers and sailors of Pakistan Navy are fully prepared to meet the challenges of future and renew the pledge to remain alert, vigilant and ready for defence of our motherland, said Chief of Naval Staff Admiral Shahid K
Published 07 Sep, 2004 12:00am
Defence Day celebrated with fervour in Sialkot

Defence Day celebrated with fervour in Sialkot

The Defence Day of Pakistan was celebrated throughout Sialkot district with great enthusiasm and national spirit on Monday. The daylong programmes started with special prayers for the unity, solidarity and prosperity of the country and for the early liber
Published 07 Sep, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (September 06, 2004)
Published 07 Sep, 2004 12:00am
PVMA wants tax anomaly removed

PVMA wants tax anomaly removed

The Pakistan Vanaspati Manufacturers Association (PVMA) on Monday issued a 10-day notice to the government for removing anomaly in taxes between settled and federally-administered tribal area (FATA)/provincially-administered tribal area (Pata).
Published 07 Sep, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (September 06, 2004).
Published 07 Sep, 2004 12:00am
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