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Print - 2004-09-18
Japan needs more nuclear power: official

Japan needs more nuclear power: official

Resource-poor Japan will need to build more nuclear power generators and raise the operation rate of such plants, the country's top energy official said on Friday.
Published 18 Sep, 2004 12:00am
Shell plan may seek to put reserves fiasco in past

Shell plan may seek to put reserves fiasco in past

Royal Dutch/Shell Group is expected to try to put the damaging scandal of its overstated oil reserves behind it when it gives its annual strategy presentation next week.
Published 18 Sep, 2004 12:00am
US asks industry to measure China piracy levels

US asks industry to measure China piracy levels

The Bush administration is asking for industry help to measure how well China is keeping its promise to crack down on the piracy of billions of dollars of American goods, US trade officials said on Thursday.
Published 18 Sep, 2004 12:00am
World Bank approves up to $180 million for Bosnia

World Bank approves up to $180 million for Bosnia

The World Bank on Thursday approved a new assistance strategy for Bosnia that would give it between $100 million and $180 million over three years and help it move from aid dependency after a 1992-95 war.
Published 18 Sep, 2004 12:00am
Toyota to invest $53 million in Vietnam

Toyota to invest $53 million in Vietnam

Vietnam's dominant foreign car assembler, Toyota Motor Corp, said on Friday it had received licences to set up two auto-part plants with a combined investment of $52.78 million.
Published 18 Sep, 2004 12:00am
Group tracks US companies that send jobs offshore

Group tracks US companies that send jobs offshore

A union group on Thursday unveiled a Web site that lets users identify more than 200,000 US-based companies it says have exported American jobs or lost them because they were hurt by foreign trade.
Published 18 Sep, 2004 12:00am
US Treasury jump on technical momentum

US Treasury jump on technical momentum

US Treasury debt prices rallied on Thursday, knocking yields to five-months lows, as low inflation and soft manufacturing figures triggered a buying spree that took on a technical momentum of its own.
Published 18 Sep, 2004 12:00am
US Treasury jump on technical momentum

US Treasury jump on technical momentum

US Treasury debt prices rallied on Thursday, knocking yields to five-months lows, as low inflation and soft manufacturing figures triggered a buying spree that took on a technical momentum of its own.
Published 18 Sep, 2004 12:00am
Hong Kong shares close at fresh six-month high

Hong Kong shares close at fresh six-month high

Hong Kong's leading share index inched higher to close at a fresh six-month high on Friday, with China plays gaining most on hopes for market reforms and economic growth.
Published 18 Sep, 2004 12:00am
US stocks rise; market cheered by mild inflation

US stocks rise; market cheered by mild inflation

US stocks rose on Thursday as data showing inflation slowed last month boosted investors' hopes that the Federal Reserve will keep to its course of measured interest rate hikes.
Published 18 Sep, 2004 12:00am
Taiwan stocks close lower

Taiwan stocks close lower

Taiwan stocks ended more than one percent lower on Friday as investors unloaded big electronics shares like Powerchip, with fresh accounting irregularities casting a shadow over market sentiment.
Published 18 Sep, 2004 12:00am
Philippines shares down

Philippines shares down

Philippines stocks fell for the fourth straight day on Friday led by number one phone firm PLDT and conglomerate Ayala Corp on more profit-taking after a nine-day rally. Analysts said the market was expected to rebound next week on hopes for the governmen
Published 18 Sep, 2004 12:00am
Malaysian shares move up for second day

Malaysian shares move up for second day

Malaysian shares ended higher on Friday, its second day of gains, as UEM Builders rose to its highest in two months on hopes it would get a road contract from a related firm.
Published 18 Sep, 2004 12:00am
Singapore shares top 2,000 points

Singapore shares top 2,000 points

Singapore stocks rebounded from an early dip to end above the key 2,000-point level on Friday, led by Singapore Press Holdings (SPH) after the firm struck a deal with a rival to stem losses at its TV unit.
Published 18 Sep, 2004 12:00am
Nikkei hits two-week closing low on earnings worry

Nikkei hits two-week closing low on earnings worry

The Nikkei average fell for a third straight session to hit a two-week closing low on Friday as renewed earnings concerns prompted selling in Tokyo Electron Ltd, Sony Corp and other high-tech stocks.
Published 18 Sep, 2004 12:00am
Seoul shares move down as Samsung Electronics slips

Seoul shares move down as Samsung Electronics slips

Seoul shares ended lower on Friday, hit by a 2 percent tumble in market leader Samsung Electronics as investors locked in profits from recent gains on the first day of the chip maker's share buyback programme.
Published 18 Sep, 2004 12:00am
Thai stocks higher

Thai stocks higher

Thailand's main stock index ended higher on Friday as foreign buying pushed up shares in PTT after it announced plans to build a new plant and in shipping companies seen benefiting from high freight rates.
Published 18 Sep, 2004 12:00am
Chinese shares soar, outlook brightens

Chinese shares soar, outlook brightens

China shares jumped 3.17 percent on Friday as increasing signs Beijing is supporting the market via reforms kept alive a buying spree among blue chips, helping the market end up for the fourth straight day.
Published 18 Sep, 2004 12:00am
Hong Kong dollar moves narrowly

Hong Kong dollar moves narrowly

Discounts on Hong Kong dollar forwards narrowed on Friday afternoon following the direction in yuan non-deliverable forwards (NDFs) as some investors covered short positions ahead of the weekend, dealers said.
Published 18 Sep, 2004 12:00am
Chinese yuan notches stronger

Chinese yuan notches stronger

The yuan finished a notch stronger at 8.2765 per US dollar on Friday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 2,350 points implying a rate of 8.043 yuan per dollar in
Published 18 Sep, 2004 12:00am
Dollar on hold as doubts grow over Fed's next move

Dollar on hold as doubts grow over Fed's next move

The dollar dawdled at the lower end of recent ranges on Friday after soft US manufacturing data fuelled a view that the Federal Reserve may slow or even temporarily halt its tightening campaign.
Published 18 Sep, 2004 12:00am
Dollar slumps on weak US regional factory data

Dollar slumps on weak US regional factory data

The dollar sagged on Thursday, pressured by a sharply weaker-than-expected US regional manufacturing survey, but the currency remained range-bound as dealers awaited comments on US inflation due next week from the Federal Reserve.
Published 18 Sep, 2004 12:00am
Australian dollar lacks support for another crack

Australian dollar lacks support for another crack

The Australian dollar held a tight range on Friday after failing to make a sustainable rally through 70 US cents offshore despite US data that cast doubt on the outlook for Federal Reserve policy beyond next week.
Published 18 Sep, 2004 12:00am
Swiss franc off as more early rate hikes in doubt

Swiss franc off as more early rate hikes in doubt

The Swiss franc slipped further against the US dollar in early European trade on Friday, extending Thursday's losses, as traders scaled back their expectations of further rate hikes by the Swiss central bank.
Published 18 Sep, 2004 12:00am
Three arrested over attack on Karzai

Three arrested over attack on Karzai

Three people have been arrested over an attempt to shoot down President Hamid Karzai's helicopter during an election campaign visit to south-east Afghanistan, an interior ministry spokesman said Friday.
Published 18 Sep, 2004 12:00am
Up to 50 killed in Nigerian pipeline blast

Up to 50 killed in Nigerian pipeline blast

Between 30 and 50 people were killed in an explosion at a fuel pipeline on the outskirts of the Nigerian commercial capital Lagos, police said Friday.
Published 18 Sep, 2004 12:00am
Erdogan tells EU to stop interfering

Erdogan tells EU to stop interfering

Prime Minister Tayyip Erdogan bluntly told the European Union on Friday it had no business meddling in Turkish domestic affairs as Turkey's decades-old campaign to join the wealthy bloc turned bitter.
Published 18 Sep, 2004 12:00am
India warns Israel against moves to remove Arafat

India warns Israel against moves to remove Arafat

Indian's junior foreign minister warned Israel on Friday against any moves against Yasser Arafat, after a meeting with the veteran Palestinian leader at his office here.
Published 18 Sep, 2004 12:00am
India warns TV channels to curb obscenity

India warns TV channels to curb obscenity

The Indian government has warned television channels they may be pulled off air unless they stop beaming programmes, mainly movies and music videos, featuring "vulgar content", reports said Friday.
Published 18 Sep, 2004 12:00am
Shamil claims Beslan school hostage taking

Shamil claims Beslan school hostage taking

Chechnya's feared warlord Shamil Basayev on Friday claimed responsibility for the deadly school hostage taking in southern Russia that killed more than 330 people, half of them children, according to a rebel website.
Published 18 Sep, 2004 12:00am
Europeans launch new police force

Europeans launch new police force

Five EU states signed an accord Friday creating a new European military police force deployable to crisis situations world-wide, the latest tool in Europe's developing security arsenal.
Published 18 Sep, 2004 12:00am
Kerry launches frontal assault on Halliburton

Kerry launches frontal assault on Halliburton

US Democrats opened a new front in their battle for the White House on Friday, attacking Vice President Dick Cheney and his old company Halliburton for alleged "cronyism" that reaped billions of dollars of business in Iraq.
Published 18 Sep, 2004 12:00am
Germany slaps visa ban on Islamic conference

Germany slaps visa ban on Islamic conference

Germany will refuse visas to anyone seeking to take part in a controversial Arab and Islamic conference next month in Berlin, the foreign ministry said on Friday.
Published 18 Sep, 2004 12:00am
Gallup poll puts Bush ahead by 13 points

Gallup poll puts Bush ahead by 13 points

A Gallup Poll survey released Friday puts US President George W. Bush ahead of his Democratic rival John Kerry by 13 points, in stark contrast with two other polls which had both in a tie.
Published 18 Sep, 2004 12:00am
Indian rupee steady, eyes widening trade deficit

Indian rupee steady, eyes widening trade deficit

The rupee ended broadly steady on Friday with dollar demand from oil and utility companies offsetting expectations of increased foreign fund inflows into the country's rising stock market.
Published 18 Sep, 2004 12:00am
Dollar pauses, market looks ahead for Fed impetus

Dollar pauses, market looks ahead for Fed impetus

The dollar was hemmed in narrow ranges on Friday as investors tried to assess how quickly the US central bank was likely to raise interest rates after a widely-expected increase next week.
Published 18 Sep, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US blue chips edged higher on Friday after Ford Motor Co. raised its earnings forecasts, but wireless technology provider Qualcomm Inc. held back the Nasdaq after saying an accounting review may reduce pretax income.
Published 18 Sep, 2004 12:00am
Sensex crosses 5,500 mark on inflation

Sensex crosses 5,500 mark on inflation

India's key share index rose to a four-month closing high on Friday on a fall in the inflation rate and in anticipation of a good October earnings season.
Published 18 Sep, 2004 12:00am
Britain's top share index soars to two-year high

Britain's top share index soars to two-year high

Britain's top shares raced to their highest level for over two years on Friday as BHP Billiton, other miners and oil stocks were buoyed by the prospect that commodity prices will remain robust, and as takeover activity provided an additional spark elsewhe
Published 18 Sep, 2004 12:00am
London cocoa flat

London cocoa flat

London cocoa futures ended barely changed on Friday as industry buying helped resist light pressure from speculators, dealers said.
Published 18 Sep, 2004 12:00am
Russia bans Chinese and Brazil meat

Russia bans Chinese and Brazil meat

Russia has partially banned live animals and meat product imports from China and Brazil citing concerns over foot-and-mouth disease, the Agriculture Ministry said on Friday.
Published 18 Sep, 2004 12:00am
World oil surges on storm, supply concern

World oil surges on storm, supply concern

World oil prices surged nearly two dollars on Friday on worries that the stormy season in the Gulf of Mexico would continue to hamper energy production and imports, delaying vital stock building ahead of the coming winter months. Fund buying ahead of the
Published 18 Sep, 2004 12:00am
London sugar closes lower

London sugar closes lower

London white sugar futures closed lower on fund selling late in the session on Friday, reversing earlier gains on trade buying, traders said.
Published 18 Sep, 2004 12:00am
New York cotton settles higher

New York cotton settles higher

NYBOT cotton futures settled higher Friday on trade and speculative buying and sentiment was aided by talk of how much damage Hurricane Ivan inflicted on the key cotton growing area of Georgia, dealers said.
Published 18 Sep, 2004 12:00am
India warns of crop losses from patchy monsoon

India warns of crop losses from patchy monsoon

India's patchy monsoon rains have dealt a blow to crucial winter crops and could reduce output by some six million tonnes, a senior agriculture official said. The crop shortfall could also hit economic growth in farm-dependent India.
Published 18 Sep, 2004 12:00am
Ivorian cocoa union sacks leader

Ivorian cocoa union sacks leader

The president of one of Ivory Coast's main cocoa farmers' unions has been sacked because of alleged fraud in the latest row over the management of cocoa funds in the world's biggest grower.
Published 18 Sep, 2004 12:00am
Gold flat in Europe, seen quiet ahead

Gold flat in Europe, seen quiet ahead

Gold was mostly unchanged in Europe on Friday, after US consumer sentiment data came in little changed, and traders expected quiet trade next week owing to public holidays in Japan.
Published 18 Sep, 2004 12:00am
US MIDDAY: sugar falls on speculative sales

US MIDDAY: sugar falls on speculative sales

NYBOT raw sugar ended Friday near session lows on speculative sales and switch trade, with more rollovers seen next week as players get ready for expiration of the October contract, brokers said.
Published 18 Sep, 2004 12:00am
US MIDDAY: wheat steadies on Egypt's purchase

US MIDDAY: wheat steadies on Egypt's purchase

Soft red winter wheat futures at the Chicago Board of Trade were steady early Friday, supported by Egypt's purchase of 115,000 tonnes of US wheat in its snap tender, traders said.
Published 18 Sep, 2004 12:00am
US MIDDAY: corn dips on weather conditions

US MIDDAY: corn dips on weather conditions

Chicago Board of Trade corn futures were range-bound early Friday but the market slid to new contract lows in nearly all months as expectations of a huge US corn crop and good Midwest weather weighs, traders said.
Published 18 Sep, 2004 12:00am
US MIDDAY: soyabean sags on weather forecasts

US MIDDAY: soyabean sags on weather forecasts

Chicago Board of Trade soyabean futures were mostly lower on Friday as traders anticipated a substantial advance in the US soya harvest, brokers said.
Published 18 Sep, 2004 12:00am
US MIDDAY: copper turns down on sentiment reading

US MIDDAY: copper turns down on sentiment reading

COMEX copper opened steady at the one-month highs reached on Thursday, briefly found strength from a tepid US sentiment reading, and then turned down when the dollar subsequently rose on the report and copper traders decided to grab quick profits ahead of
Published 18 Sep, 2004 12:00am
US MIDDAY: gold firms on investment bank interest

US MIDDAY: gold firms on investment bank interest

COMEX gold was consolidating with a slightly bid tone early Friday, enjoying some fund and investment bank interest before the release of an important barometer of US consumer confidence.
Published 18 Sep, 2004 12:00am
PTCL union rejects offer

PTCL union rejects offer

Pakistan Telecom Employees Union has rejected the offer of PTCL management for acceptance of their three demands ie 15 percent increase in salaries, allocation of quota of employment for the children of PTCL employees and deceased employees and demanded a
Published 18 Sep, 2004 12:00am
Notorious dacoit killed in encounter

Notorious dacoit killed in encounter

A notorious dacoit Muhammad Siddique alias Sohna, ringleader of 'Sandeela gang', was killed in an encounter with police in Eisanwala forests (Mehmood Kot). However other dacoits managed to escape with their injured accomplice. The encounter continued for
Published 18 Sep, 2004 12:00am
Gas, phones, link road projects inauguration on September 20

Gas, phones, link road projects inauguration on September 20

Punjab Governor Lieutenant General Khalid Maqbool (Retd) will inaugurate development projects like Sui gas, telephone exchange and a link road during his visit to Kube Chak on September 20, said Dr Firdous Ashiq Awan, member of the National Assembly.
Published 18 Sep, 2004 12:00am
Ministers assure facilities to traders

Ministers assure facilities to traders

The government will take measures for continuity of policies with maximum incentives and facilities to ensure growth in economic and other related sectors.
Published 18 Sep, 2004 12:00am
Banking sector - problems and prospects

Banking sector - problems and prospects

Banking sector in Pakistan has experienced profound changes over last decade. Though in many columns we read about the growing and prosperous performance of the banking sector but one line that caught my attention was Asian Development Bank (ADB) warning
Published 18 Sep, 2004 12:00am
Technical education high priority, says Qazi

Technical education high priority, says Qazi

The present government has accorded high priority to the provision of technical education as it is the major tool to improve economy of the country.
Published 18 Sep, 2004 12:00am
Markup on markup

Markup on markup

I have read a letter in your paper by Mohammad Haroon Usman.
Published 18 Sep, 2004 12:00am
Further 20 percent IT demand

Further 20 percent IT demand

My income tax return for the year ended 30.6.03 was higher by 22% and 38%, respectively for income and tax deposited than the previous year ie 30.6.2002. Still my case was selected for total audit.
Published 18 Sep, 2004 12:00am
Poverty and cabinet

Poverty and cabinet

A correspondent in a newspaper decries colossal expenditure of at least 4.524 billion that he has estimated for 165 Federal Ministers, Ministers of State, Chairmen Senate/Standing Committees etc-etc, which he thinks could easily be halved and provide a fe
Published 18 Sep, 2004 12:00am
Kidnappings, murders push Iraq's varsities to brink

Kidnappings, murders push Iraq's varsities to brink

Iraqi universities, once among the most prestigious in the Arab world, are facing potential catastrophe, with rampant kidnappings and murders causing the post-Saddam Hussein intelligentsia to flee abroad en masse.
Published 18 Sep, 2004 12:00am
The institutional investors' impact on equity markets

The institutional investors' impact on equity markets

Throughout the world, institutional investors have played an increasing role in the development of the capital markets. During the last decade, institutional investors' direct investment in equity markets of the world has been gradually increasing.
Published 18 Sep, 2004 12:00am
Annan's affirmation

Annan's affirmation

UN Secretary-General Kofi Annan made two important statements in his BBC interview aired on Wednesday with regard to the US war against Iraq, which lend further moral weight to an overwhelming international opinion on the subject.
Published 18 Sep, 2004 12:00am
Welcome addition to textile export quota

Welcome addition to textile export quota

The report that the European Union Commission has agreed to issue additional flexibility quota of 4000 tonnes comprising three categories of textile products for export to European Union countries for the remaining quarter of 2004, will be seen as a welco
Published 18 Sep, 2004 12:00am
Kenya to retain same squad for continental qualifier

Kenya to retain same squad for continental qualifier

Kenyan cricket coach Andy Moles has vowed to retain his squad for the ICC Intercontinental Cup qualifier against Namibia here next month despite their dismal show in the Champions Trophy.
Published 18 Sep, 2004 12:00am
TV replays necessary for India-Australia series: ICC

TV replays necessary for India-Australia series: ICC

The International Cricket Council (ICC) has told the Indian board that it needs to provide TV pictures for third umpire decisions to go ahead with next month's home Test series against Australia.
Published 18 Sep, 2004 12:00am
Smith set for Windies challenge

Smith set for Windies challenge

South Africa skipper Graeme Smith is itching to prove the doubters wrong when he leads his team into a make-or-break Champions Trophy clash against the West Indies at The Oval here on Saturday.
Published 18 Sep, 2004 12:00am
Rain sends England, Sri Lanka into second day

Rain sends England, Sri Lanka into second day

England and Sri Lanka must return on Saturday to finish their Champions Trophy Group D clash after persistent rain restricted play to only 32 overs at the Rose Bowl on Friday with England on 118-3.
Published 18 Sep, 2004 12:00am
Taibu rates Zimbabwe chances on Pakistan tour

Taibu rates Zimbabwe chances on Pakistan tour

Zimbabwe captain Tatenda Taibu gives his inexperienced team an even chance of winning the triangular One-day tournament against Sri Lanka and hosts Pakistan in two weeks' time.
Published 18 Sep, 2004 12:00am
Ponting leaves door open for Lee comeback

Ponting leaves door open for Lee comeback

Australian captain Ricky Ponting has left the door open for fast bowler Brett Lee to return to the side for next week's ICC Champions Trophy semi-final. Lee was dropped in favour of Shane Watson as the Australians overwhelmed New Zealand by seven wickets
Published 18 Sep, 2004 12:00am
Software house opens at Pucit

Software house opens at Pucit

Punjab University vice chancellor, Arshad Mahmood distributed certificates among the participants of Intensive Teacher Training Workshop arranged by Punjab University College of Information Technology (Pucit) on old campus on Thursday.
Published 18 Sep, 2004 12:00am
Complaint lodged against LCCI secretary

Complaint lodged against LCCI secretary

Lahore Chamber of Commerce and Industry (LCCI) Executive Committee Member Javed Hussain Dar has lodged a complaint with the Race Course police against LCCI Secretary Muhammad Younus for giving him life threats.
Published 18 Sep, 2004 12:00am
Ring road construction to start next month

Ring road construction to start next month

Punjab Chief Minister Chaudhry Pervez Elahi has announced initiation of Lahore Ring Road Project from November 1 this year and the first section of the project would be constructed from Niazi Chowk Bund Road.
Published 18 Sep, 2004 12:00am
'Efforts on to begin Smeda development programme'

'Efforts on to begin Smeda development programme'

Asian Development Bank (ADB) in collaboration with the Small and Medium Enterprise Development Authority (Smeda) has expedited its efforts to begin SME Development Program in Pakistan.
Published 18 Sep, 2004 12:00am
Shaukat underlines top priorities

Shaukat underlines top priorities

Prime Minister Shaukat Aziz said on Friday that his government's priorities are to provide good governance, ensure stability in prices of essential commodities and make justice available to all.
Published 18 Sep, 2004 12:00am
IDEAS 2004 exhibition culminates

IDEAS 2004 exhibition culminates

The five day international defence exhibition IDEAS 2004 being held at the Expo Center culminated on Friday with the pledge to hold IDEAS 2006 in a more splendid manner.
Published 18 Sep, 2004 12:00am
PHMA office-bearers

PHMA office-bearers

Aslam Ahmed Karsaz, Naseem Ahmed and Saqib Bilwani have been elected unopposed as members of central executive committee of Pakistan Hosiery Manufacturers Association, Sindh-Balochistan Zone, for 2004-05.
Published 18 Sep, 2004 12:00am
Experts moot on Pak-Russia trade co-operation suggested

Experts moot on Pak-Russia trade co-operation suggested

The government of the Russian Federation has suggested holding of a meeting at experts level in Moscow to discuss specific matters pertaining to bilateral trade and economic co-operation between Pakistan and Russia.
Published 18 Sep, 2004 12:00am