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Print - 2004-09-21
Nike quarterly profit up on strong demand

Nike quarterly profit up on strong demand

Nike Inc, the world's largest athletic shoe company, on Monday reported a 25 percent rise in quarterly profit, beating analysts' estimates, on strong demand for high-end running and basketball shoes in the United States. The Beaverton, Oregon-based compan
Published 21 Sep, 2004 12:00am
New York Times cuts 2004 profit targets

New York Times cuts 2004 profit targets

New York Times Co on Monday forecast third-quarter and full-year earnings below Wall Street's average estimates on lower-than-expected revenue so far in September, sending its shares to two-year lows.
Published 21 Sep, 2004 12:00am
New York Times cuts 2004 profit targets

New York Times cuts 2004 profit targets

New York Times Co on Monday forecast third-quarter and full-year earnings below Wall Street's average estimates on lower-than-expected revenue so far in September, sending its shares to two-year lows.
Published 21 Sep, 2004 12:00am
Nigeria bans award of contracts to Halliburton

Nigeria bans award of contracts to Halliburton

Nigeria placed an embargo Monday on awarding government contracts to the US oil service company Halliburton's subsidiary in the country, accusing the firm of negligence in security and safety matters.
Published 21 Sep, 2004 12:00am
South Korea agrees big Kazakh energy deal

South Korea agrees big Kazakh energy deal

South Korea, the world's fourth-biggest oil buyer, signed a major energy deal with resource-rich Kazakhstan on Monday as part of Seoul's plan to diversify its energy sources.
Published 21 Sep, 2004 12:00am
Shanghai sees long-term R&D role for global firms

Shanghai sees long-term R&D role for global firms

Global companies will play a major role in China's high-tech sector for years to come, despite the country's drive to boost domestic firms onto the higher-value rungs of industries from chips to software, a senior government official said.
Published 21 Sep, 2004 12:00am
Alitalia to agree rescue plan after union deal

Alitalia to agree rescue plan after union deal

Alitalia's board was set to approve a four-year rescue plan on Monday needed to unlock a 400 million euro emergency loan and prevent bankruptcy, after unions agreed to thousands of job cuts.
Published 21 Sep, 2004 12:00am
Unilever warns on 2004 earnings

Unilever warns on 2004 earnings

Anglo-Dutch food-to-detergents group Unilever cut its 2004 earnings guidance as it forecast its leading brands' performance in the third quarter would be below that of the second.
Published 21 Sep, 2004 12:00am
Unilever warns on 2004 earnings

Unilever warns on 2004 earnings

Anglo-Dutch food-to-detergents group Unilever cut its 2004 earnings guidance as it forecast its leading brands' performance in the third quarter would be below that of the second.
Published 21 Sep, 2004 12:00am
Colgate gives first profit warning since 1995

Colgate gives first profit warning since 1995

Colgate-Palmolive Co on Monday issued its first formal profit warning in almost a decade, saying earnings will fall well short of Wall Street forecasts due to higher marketing spending, sending its shares down 11 percent to a four-year low.
Published 21 Sep, 2004 12:00am
Colgate gives first profit warning since 1995

Colgate gives first profit warning since 1995

Colgate-Palmolive Co on Monday issued its first formal profit warning in almost a decade, saying earnings will fall well short of Wall Street forecasts due to higher marketing spending, sending its shares down 11 percent to a four-year low.
Published 21 Sep, 2004 12:00am
Sweden promotes jobs in expansionary budget

Sweden promotes jobs in expansionary budget

Sweden's minority government unveiled an expansionary 2005 budget on Monday with bigger-than- expected tax cuts and money to create jobs, as Prime Minister Goran Persson fights a growing electoral threat from the opposition.
Published 21 Sep, 2004 12:00am
Bangladesh exports up 28 percent on garment sales

Bangladesh exports up 28 percent on garment sales

Bangladesh's exports rose 28 percent in the year through July, above the government's target, but traders expressed doubt over whether the full-year goal for fiscal 2004/05 could be achieved given recent devastating floods.
Published 21 Sep, 2004 12:00am
Virgin Atlantic plans to fly daily to India

Virgin Atlantic plans to fly daily to India

Britain's Virgin Atlantic announced plans Monday to fly daily from London to both New Delhi and Mumbai following an agreement between India and Britain to allow more flights from next year.
Published 21 Sep, 2004 12:00am
Rato asserts stronger IMF role in speaking out

Rato asserts stronger IMF role in speaking out

The new head of the International Monetary Fund on Monday asserted a stronger role for the global lender in speaking out on economic policies that may disrupt the rest of the world, including in countries that have traditionally not needed its help.
Published 21 Sep, 2004 12:00am
New Zealand shares edge up

New Zealand shares edge up

The New Zealand benchmark share index rose 0.5 percent to end at a six-week high on Monday, boosted by a recovery in the shares of Telecom.
Published 21 Sep, 2004 12:00am
Malaysian shares soar, led by Tenaga

Malaysian shares soar, led by Tenaga

Malaysian shares ended higher on Monday, its third consecutive day of gains, led by power firm Tenaga Nasional Bhd ahead of an expected US Federal Reserve interest rate rise on Tuesday.
Published 21 Sep, 2004 12:00am
Taiwan stocks rise on China moves, Wall Street rally

Taiwan stocks rise on China moves, Wall Street rally

Taiwan stocks rose on Monday as shares of companies that sell to China gained on expectations of more stable economic policies after a smooth leadership transition, while a rally on Wall Street also boost sentiment.
Published 21 Sep, 2004 12:00am
Property leads Hong Kong blue chips lower

Property leads Hong Kong blue chips lower

Hong Kong's top share index ended 0.03 percent lower on Monday as losses for property plays offset gains for select China plays on hopes for market reforms from Beijing to prop up its equity markets.
Published 21 Sep, 2004 12:00am
Seoul shares make gains, Samsung Electronics slips on outlook

Seoul shares make gains, Samsung Electronics slips on outlook

Seoul shares closed up 1 percent on Monday, bolstered by futures-linked program-buying that drove select blue chips higher, but lingering concerns over South Korea's economic fundamentals dampened the prospects for a sustained market rally.
Published 21 Sep, 2004 12:00am
Manila's iBank eyeing 1.34 billion pesos through IPO

Manila's iBank eyeing 1.34 billion pesos through IPO

Medium-sized Philippine lender International Exchange Bank (iBank) will sell 25 percent of its outstanding shares in an initial public offering planned in December to raise at least 1.34 billion pesos ($23.8 million).
Published 21 Sep, 2004 12:00am
Indian shares end lower after four-month rally

Indian shares end lower after four-month rally

Indian shares eased on Monday, as traders locked into profits in technology, cement and automobile stocks after a recent rally, while high crude oil prices kept the mood in the currency market subdued.
Published 21 Sep, 2004 12:00am
Sri Lankan shares jump

Sri Lankan shares jump

Sri Lankan stocks rose on Monday as retailers picked up hotel sector shares expecting record tourist arrivals as a two-year cease-fire that ended two decades of civil war continues to hold, brokers said. The key Colombo all-share index ended up 0.11 perce
Published 21 Sep, 2004 12:00am
Philippines stocks surge, PLDT leads way

Philippines stocks surge, PLDT leads way

Philippine stocks ended higher on Monday after five days of losses as players returned to the market to seek stocks looking oversold such as dominant phone firm PLDT and top conglomerate Ayala Corp.
Published 21 Sep, 2004 12:00am
Singapore stocks decline, Fed and oil prices eyed

Singapore stocks decline, Fed and oil prices eyed

Singapore's shares ended down on Monday, below the coveted 2,000-point level, as expectations of a rate rise in the United States and high oil prices prompted investors to book profits on recent gains.
Published 21 Sep, 2004 12:00am
Australian stocks drop after hitting new high

Australian stocks drop after hitting new high

Australian stocks ended 0.1 percent lower on Monday after an early rise to a new high fizzled as a batch of stocks trading ex-dividend outweighed gains in major miners such as BHP Billiton
Published 21 Sep, 2004 12:00am
Thai stocks finish five-day rally

Thai stocks finish five-day rally

Thai stocks ended a tad lower on Monday, with gains in blue chip energy, property and bank shares outweighed by profit taking in TPI and steel makers after recent rallies, dealers said.
Published 21 Sep, 2004 12:00am
Chinese shares post two-month high amid reform signals

Chinese shares post two-month high amid reform signals

China shares leapt 3.43 percent on Monday, scaling a two-month peak and ending up for the fifth straight day as investors sought bargains among steel firms on fresh signs Beijing was supporting the market via reforms.
Published 21 Sep, 2004 12:00am
Swiss franc little changed ahead of Fed decision

Swiss franc little changed ahead of Fed decision

The Swiss franc traded little changed against the dollar and euro early on Monday ahead of a US Federal Reserve meeting this week, where markets expect an interest rate rise and will be looking for signals on future policy direction.
Published 21 Sep, 2004 12:00am
Indian rupee erases losses

Indian rupee erases losses

The Indian rupee bounced off an intra-day low to end steady on Monday as exporters cashed in on the unit's early fall to sell their remittances.
Published 21 Sep, 2004 12:00am
Dollar inches ahead as market waits on rates view

Dollar inches ahead as market waits on rates view

The dollar rose slightly on Monday ahead of a US Federal Reserve meeting this week, which is widely expected to raise rates and where the market will focus on signals of future policy intentions.
Published 21 Sep, 2004 12:00am
Asian currencies quiet on Fed watch

Asian currencies quiet on Fed watch

Asian currencies barely budged on Monday, with markets postponing speculation on the Chinese yuan and debate over the Sing dollar's direction until a US monetary policy meeting on Tuesday.
Published 21 Sep, 2004 12:00am
Hong Kong dollar and forwards steady

Hong Kong dollar and forwards steady

The Hong Kong dollar and discounts on forwards moved in narrow ranges on Monday with thin activity ahead of a rate-setting meeting by the US Federal Reserve later this week.
Published 21 Sep, 2004 12:00am
Chinese yuan ends unchanged

Chinese yuan ends unchanged

The yuan finished unchanged at 8.2765 per US dollar on Monday, near the stronger end of its managed trading range.
Published 21 Sep, 2004 12:00am
England just another game, says Ponting

England just another game, says Ponting

Australia captain Ricky Ponting said Wednesday's Champions Trophy semi-final against England, their oldest international rivals, here at Edgbaston was just another game.
Published 21 Sep, 2004 12:00am
McMillan dropped

McMillan dropped

New Zealand batsman Craig McMillan was Monday dropped from the Test squad to tour Bangladesh next month.
Published 21 Sep, 2004 12:00am
Australia may pull out over TV dispute: BCCI

Australia may pull out over TV dispute: BCCI

The Australian cricket board may reconsider its upcoming tour of India if a television rights dispute is not resolved, the Indian board told a court hearing into the case on Monday.
Published 21 Sep, 2004 12:00am
Chigumbura shines in Zimbabwe tour match

Chigumbura shines in Zimbabwe tour match

All rounder Elton Chigumbura hit 81 to lift Zimbabwe in their two-day match against a Pakistan Cricket Board Chairman XI on Monday.
Published 21 Sep, 2004 12:00am
Woolmer issues Windies warning

Woolmer issues Windies warning

Pakistan coach Bob Woolmer insisted his side would not take West Indies lightly when they met in the semi-final of the ICC Champions Trophy at the Rose Bowl on Wednesday.
Published 21 Sep, 2004 12:00am
Ganguly hits out at failing batsmen

Ganguly hits out at failing batsmen

Furious India captain Sourav Ganguly launched a blistering attack on his misfiring batsmen after his side were knocked out of the ICC Champions Trophy by bitter rivals Pakistan on Sunday.
Published 21 Sep, 2004 12:00am
We can break Aussie stranglehold, warns Gough

We can break Aussie stranglehold, warns Gough

Veteran seamer Darren Gough believes England are ready to smash Australia's one-day stranglehold when the old enemies meet again in the semi-finals of the Champions Trophy here on Tuesday.
Published 21 Sep, 2004 12:00am
French think tank hits out at US 'negligence' in Iraq

French think tank hits out at US 'negligence' in Iraq

The administration of US President George W. Bush displayed "negligence" in failing to plan for the chaos sweeping post-war Iraq, a prominent French think tank said in its just-released annual report.
Published 21 Sep, 2004 12:00am
Jagger and Argentinian scientist share 'alternative Nobel'

Jagger and Argentinian scientist share 'alternative Nobel'

The Right Livelihood prize, dubbed the "alternative" to the Nobel Peace Prize, was awarded Monday to human rights campaigner Bianca Jagger, an Argentinian anti-nuclear activist and a Russian group documenting Soviet-era abuses.
Published 21 Sep, 2004 12:00am
Australia plans counter-terror teams in Asia

Australia plans counter-terror teams in Asia

Australia wants to base counter-terrorism teams in Southeast Asia, including in Indonesia and the Philippines, the government said on Monday, as it laid out its security plan ahead of an October 9 general election.
Published 21 Sep, 2004 12:00am
Hekmatyar urges Afghans to boycott presidential polls

Hekmatyar urges Afghans to boycott presidential polls

Afghan warlord Gulbuddin Hekmatyar, who is wanted by Washington for terrorism, has urged Afghans to boycott next month's presidential election in protest at their "puppet government", a report said Monday.
Published 21 Sep, 2004 12:00am
Vote gains for far right alarm mainstream Germany

Vote gains for far right alarm mainstream Germany

A surge in support for the far right in two eastern German state elections alarmed mainstream Germany on Monday, but Chancellor Gerhard Schroeder said he found encouraging signs for his Social Democrats in the results.
Published 21 Sep, 2004 12:00am
Saddam begs for mercy: Iraqi prime minister

Saddam begs for mercy: Iraqi prime minister

Toppled Iraqi leader Saddam Hussein is miserable sitting in a jail cell awaiting trial on charges of crimes against humanity and has begged for mercy, Iraqi Prime Minister Iyad Allawi said in an interview published Monday.
Published 21 Sep, 2004 12:00am
Berlin bans Arab-Islamic congress

Berlin bans Arab-Islamic congress

The Berlin state government said on Monday it had banned an Arab-Islamic Congress due to be held in the German capital next month to rally support for Iraqi and Palestinian "resistance and intifada".
Published 21 Sep, 2004 12:00am
US sanctions Chinese firm over weapons sales

US sanctions Chinese firm over weapons sales

The US government on Monday ordered sanctions against a Chinese firm accused of trafficking material and technical expertise that could be used for weapons of mass destruction, the State Department said.
Published 21 Sep, 2004 12:00am
Blair backs India's quest for permanent UNSC seat

Blair backs India's quest for permanent UNSC seat

British Prime Minister Tony Blair on Monday backed India's quest for a permanent seat on the UN Security Council as well as having it join talks with G-8 countries on climate change and African development.
Published 21 Sep, 2004 12:00am
Kazakhstan vote not fair: monitors

Kazakhstan vote not fair: monitors

Oil-rich Kazakhstan failed to meet pledges that its weekend elections would be free and fair, international monitors said on Monday, casting doubt over an apparent victory for pro-presidential parties.
Published 21 Sep, 2004 12:00am
Saudi Arabian forces arrest militant after shootout

Saudi Arabian forces arrest militant after shootout

Saudi security forces, battling a wave of al Qaeda attacks in the kingdom, arrested a wanted militant after a shootout in the northern city of Tabuk on Monday, the Interior Ministry said.
Published 21 Sep, 2004 12:00am
Big powers urge Iran to heed UN nuclear freeze demand

Big powers urge Iran to heed UN nuclear freeze demand

The United States, the EU and Russia urged Iran on Monday to comply with the UN nuclear watchdog's demand that it halt all activities linked to uranium enrichment, a process that can be used to build an atom bomb.
Published 21 Sep, 2004 12:00am
Dutch march against social security, health reforms

Dutch march against social security, health reforms

Tens of thousands of people Monday marched through the streets of Rotterdam, the world's largest port, to protest at the Dutch government's planned social security and health sector reforms.
Published 21 Sep, 2004 12:00am
Former general heads for big win in Indonesia

Former general heads for big win in Indonesia

An urbane former general who promises to fight terror and clean up government headed for an overwhelming victory against incumbent Megawati Sukarnoputri in Indonesia's first direct presidential election on Monday.
Published 21 Sep, 2004 12:00am
Monday's official close: US stocks off on profit warnings

Monday's official close: US stocks off on profit warnings

Stocks fell on Monday as investors worried about higher oil prices and warnings of lower company earnings and delayed decisions before Tuesday's meeting of the Federal Reserve on interest rates.
Published 21 Sep, 2004 12:00am
Bonds: focus turns to new issuance

Bonds: focus turns to new issuance

Attention in the European corporate bond market turned to new issuance on Monday with several new deals expected in coming days, while secondary market trade was thin at best.
Published 21 Sep, 2004 12:00am
Bonds: focus turns to new issuance

Bonds: focus turns to new issuance

Attention in the European corporate bond market turned to new issuance on Monday with several new deals expected in coming days, while secondary market trade was thin at best.
Published 21 Sep, 2004 12:00am
FTSE-100 closes down as Unilever warns

FTSE-100 closes down as Unilever warns

Britain's FTSE-100 index closed weaker on Monday after a shock profit warning from food to detergents maker Unilever, although strength in oil majors BP and Shell helped keep the index above session lows.
Published 21 Sep, 2004 12:00am
Sterling falls against dollar

Sterling falls against dollar

Sterling fell more than half a percent against the dollar on Monday as more evidence emerged that higher interest rates are cooling Britain's once-booming property market.
Published 21 Sep, 2004 12:00am
Dollar rises in London trade

Dollar rises in London trade

The dollar rose against the euro and Swiss franc on Monday, buoyed by widespread expectations the US Federal Reserve will raise interest rates this week and awaiting signals on future rate hikes.
Published 21 Sep, 2004 12:00am
New York cotton at one-month low

New York cotton at one-month low

NYBOT cotton futures finished at a one-month low Monday on speculative and options-related sales as bearish fundamentals and limited storm damage to US cotton farms depressed market values, dealers said.
Published 21 Sep, 2004 12:00am
Gold slips back slightly in Europe

Gold slips back slightly in Europe

Gold slipped back slightly in a narrow range in Europe on Monday, moving with currencies as markets awaited this week's US Federal Reserve rate setting meeting, dealers said.
Published 21 Sep, 2004 12:00am
World oil above $46 as Yukos cuts supplies to China

World oil above $46 as Yukos cuts supplies to China

Oil prices broke above $46 on Monday after Russian oil giant Yukos said it would cut some oil shipments to China, the first toll on exports from the company's financial turmoil. Continued disruptions to US supplies in the wake of Hurricane Ivan, which thr
Published 21 Sep, 2004 12:00am
World oil above $46 as Yukos cuts supplies to China

World oil above $46 as Yukos cuts supplies to China

Oil prices broke above $46 on Monday after Russian oil giant Yukos said it would cut some oil shipments to China, the first toll on exports from the company's financial turmoil. Continued disruptions to US supplies in the wake of Hurricane Ivan, which thr
Published 21 Sep, 2004 12:00am
Turkish commander visits Naval and Air Headquarters

Turkish commander visits Naval and Air Headquarters

Commander Turkish Naval Forces Admiral Ozden ORNEK, who is currently on an official visit to Pakistan, on Monday visited Naval Headquarters here. Chief of the Naval Staff Admiral Shahid Karimullah received the guest on arrival.
Published 21 Sep, 2004 12:00am
Australian Prime Minister struggles to woo Asian voters

Australian Prime Minister struggles to woo Asian voters

Australian Prime Minister John Howard's push to forge a closer alliance with the United States and his strong rhetoric on the war on terror have only added to his negative image among Asian voters and Asia at large.
Published 21 Sep, 2004 12:00am
Palestinian rockets point to enduring conflict

Palestinian rockets point to enduring conflict

First you hear the whistle. Then the boom. Hugging tight her 8-year-old daughter, Maia Oriloh is terrified to leave her home in the Israeli town of Sderot after a rocket fired from Gaza hit metres (yards) away. Neighbour Ruthi Levy wakes in panic at the s
Published 21 Sep, 2004 12:00am
Chairman Overflowing gutters

Chairman Overflowing gutters

Overflowing gutters have become order of the day in Korangi Industrial Area, particularly on the main road.
Published 21 Sep, 2004 12:00am
Change of system

Change of system

Our faith, culture, tradition, customs, moral values are not like Western societies' then why do we have to follow the parliamentary form of political system, which has failed to deliver. But the question is why, in India is the parliamentary political sy
Published 21 Sep, 2004 12:00am
E-governance

E-governance

The government is reported considering introduction of e-governance and may soon solicit proposals from the professionals for it. It will be a major step towards good, efficient and transparent governance.
Published 21 Sep, 2004 12:00am
Afghanistan takes steps to modern finance

Afghanistan takes steps to modern finance

When Anwar Ul-Haq Ahady began work as the governor of Afghanistan's central bank two years ago, Da Afghanistan Bank was in proud possession of just three computers - and they were used for word processing.
Published 21 Sep, 2004 12:00am
Partly Facetious: no explanation required

Partly Facetious: no explanation required

"I think we need to laud the efforts, concerted efforts if you will, of the government and the Accountability Bureau to ensure that one of the offenders gets not only 10 years rigorous imprisonment but also a 100 million rupee fine."
Published 21 Sep, 2004 12:00am
Let GATS resolve labour migration issues

Let GATS resolve labour migration issues

According to a news agency report from Geneva, a study in the WTO's 2004 World Trade Report, released the other day, found "significant" potential economic and trade gains from the liberalisation of labour flows under the Organisation's General Agreement
Published 21 Sep, 2004 12:00am
Why not stop open robbery?

Why not stop open robbery?

According to the formal order issued by the district magistrate of Islamabad, it has been brought to his notice that "some housing societies, trusts, limited companies, etc are operating in the territory of Islamabad in the manner not warranted by the law
Published 21 Sep, 2004 12:00am
Piaf-Founders Alliance claims support of majority

Piaf-Founders Alliance claims support of majority

Piaf-Founders Alliance has claimed to win the support of all the markets and industrial areas of Lahore in the elections of the Lahore Chamber of Commerce & Industry (LCCI) being held on September 21 & 22, 2004.
Published 21 Sep, 2004 12:00am
HEC launches teachers' training course

HEC launches teachers' training course

Higher Education Commission (HEC) has launched a six-day in-service training course on geography for university/college teachers here at its regional centre on Monday.
Published 21 Sep, 2004 12:00am
Resolution on uniform withdrawn in Balochistan Assembly

Resolution on uniform withdrawn in Balochistan Assembly

A joint resolution on President Pervez Musharraf retaining and maintaining both offices of President and Chief of Army Staff (COAS) after December 31, 2004, moved in the Balochistan Assembly on Monday by Pakistan Muslim League ruling partners, was withdra
Published 21 Sep, 2004 12:00am
'Change in LCCI is inevitable'

'Change in LCCI is inevitable'

Chairman, The Founders at the Lahore Chamber of Commerce and Industry (LCCI), Pervez Hanif has said that change in the LCCI is inevitable to revive the prestige of this premier institution of business community.
Published 21 Sep, 2004 12:00am
PhD degree awarded to Khalid

PhD degree awarded to Khalid

For the first time ever, Punjab University has awarded PhD degree in Library Science to Khalid Mahmood. Khalid is a lecturer in the Department of Library and Information Science at the Punjab University.
Published 21 Sep, 2004 12:00am
UVAS focusing on practical education: vice chancellor

UVAS focusing on practical education: vice chancellor

The University of Veterinary and Animal Sciences (UVAS) is focusing on practical education as well as research and development to equip students with the latest professional skills and knowledge, said UVAS Vice Chancellor Professor Dr Manzoor Ahmad.
Published 21 Sep, 2004 12:00am
'Grow more wheat' campaign to be launched this year

'Grow more wheat' campaign to be launched this year

A special campaign "grow more wheat" will be launched this year to produce sufficient wheat crop, especially to fulfil the country's own demand for wheat. Additional secretary of Ministry of Food and Agriculture Mumtaz Ahmed said while speaking in a PTV p
Published 21 Sep, 2004 12:00am
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