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Print - 2004-09-27
The Weather

The Weather

The weather report on Sunday (September 26) and the forecast for Monday (September 27, 2004).
Published 27 Sep, 2004 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week (September 20 to 25, 2004).
Published 27 Sep, 2004 12:00am
Payouts seen driving Singapore equities up in 2005

Payouts seen driving Singapore equities up in 2005

Singapore Inc's drive to cut costs, consolidate businesses and improve investment discipline should keep payouts flowing to shareholders and push stocks to peaks not seen since the bull run of 2000, analysts say.
Published 27 Sep, 2004 12:00am
Indian shares seen firm, bonds steady

Indian shares seen firm, bonds steady

Indian shares are expected to rise this week, as traders build positions in automobile and commodity stocks ahead of earnings next month, while bonds are seen steady as the fiscal-first-half draws to a close.
Published 27 Sep, 2004 12:00am
Oil prices key to Hang Seng Index mood

Oil prices key to Hang Seng Index mood

Oil prices hold the key to whether Hong Kong's leading Hang Seng Index will be able to cling to the 13,000-level this week, with analysts predicting more falls in shares if crude prices stay high.
Published 27 Sep, 2004 12:00am
Economy woes seen weighing on Tokyo stocks

Economy woes seen weighing on Tokyo stocks

The Tokyo stock market is seen trading on a weak note this week as investors, already cautious about high oil prices and the global economic outlook, await the Bank of Japan's "tankan" corporate sentiment survey.
Published 27 Sep, 2004 12:00am
Emaar AMLAK plans $136 million Islamic bond

Emaar AMLAK plans $136 million Islamic bond

AMLAK Finance, a unit of Dubai's property group Emaar, said on Sunday it will issue a mortgage-backed 500 million dirham ($136 million) Islamic bond.
Published 27 Sep, 2004 12:00am
Emaar AMLAK plans $136 million Islamic bond

Emaar AMLAK plans $136 million Islamic bond

AMLAK Finance, a unit of Dubai's property group Emaar, said on Sunday it will issue a mortgage-backed 500 million dirham ($136 million) Islamic bond.
Published 27 Sep, 2004 12:00am
Taiwan stocks seen lower on oil and tech concerns

Taiwan stocks seen lower on oil and tech concerns

Taiwan stocks are expected to continue their retreat this week from last Wednesday's 15-week closing high as investors fret over near-record oil prices and the demand outlook for the tech industry.
Published 27 Sep, 2004 12:00am
Asian currencies weaken against dollar

Asian currencies weaken against dollar

Asian currencies weakened slightly against the dollar following a US interest rate increase by the Federal Reserve, which indicated further rises were likely as the American economy regained traction.
Published 27 Sep, 2004 12:00am
Cairo market's retreat loses steam

Cairo market's retreat loses steam

Egypt's benchmark index slid for the fifth straight session on Sunday but the retreat from this month's all-time highs began to lose its momentum, brokers said.
Published 27 Sep, 2004 12:00am
South African stocks: banks and inflation data in focus

South African stocks: banks and inflation data in focus

South Africa's bank shares will be in the spotlight again this week after leading retail bank Absa confirmed it was in take-over talks, and investors also will focus on inflation data, traders said.
Published 27 Sep, 2004 12:00am
Oil prices to dictate FTSE-100 moves

Oil prices to dictate FTSE-100 moves

UK stocks will trade in thrall to global oil prices this week after a spike in crude futures brought high energy costs back to the fore before a break in the corporate news calendar, strategists said.
Published 27 Sep, 2004 12:00am
Egypt interbank rate dips

Egypt interbank rate dips

The median overnight interbank rate on the Egyptian pound fell to 12 percent on Sunday from 13-1/4 percent on Thursday after most banks squared their positions for the end of the period for calculating reserve requirements, traders said.
Published 27 Sep, 2004 12:00am
Deutsche Boerse still eyeing retail derivatives

Deutsche Boerse still eyeing retail derivatives

Deutsche Boerse, the dominant stock market operator, is not giving up on plans to muscle in on the niche of German rival Stuttgarter Boerse despite the modest success of its efforts to date, a Boerse official told Reuters.
Published 27 Sep, 2004 12:00am
US stocks market: Presidential debate, consumer data eyed

US stocks market: Presidential debate, consumer data eyed

The first US presidential debate this week and a load of data on consumer spending will settle some questions that have been hanging over US stocks, and equity strategists and traders say the decreased uncertainty could draw buyers back to the market.
Published 27 Sep, 2004 12:00am
Total deal shows appetite for Russian oil, but limits foreign role

Total deal shows appetite for Russian oil, but limits foreign role

A deal between French energy group Total and Russian gas firm Novatek shows that oil majors have an appetite for Russia's energy riches despite the Yukos affair, but also the limited role now possible for foreigners in this strategic sector, analysts say.
Published 27 Sep, 2004 12:00am
Philippines foreign debt down slightly at end-June

Philippines foreign debt down slightly at end-June

The Philippines, Asia's most active sovereign debt issuer, said on Sunday its outstanding foreign debt fell 0.7 percent to $56.3 billion at the end of the first half, from $56.7 billion at the end of the first quarter.
Published 27 Sep, 2004 12:00am
Coming data to show slipping eurozone confidence

Coming data to show slipping eurozone confidence

Economic data to be released this week are expected to show slipping business and consumer eurozone confidence in September and slowing economic growth in Britain as rate hikes braked expansion, economists said.
Published 27 Sep, 2004 12:00am
World economy at best point in five years: IMF chief

World economy at best point in five years: IMF chief

The world economy is at its best point for five years, although the US budget deficit and sluggish European growth pose problems, International Monetary Fund (IMF) head Rodrigo Rato was quoted on Sunday as saying.
Published 27 Sep, 2004 12:00am
Opec loses influence in controlling oil prices

Opec loses influence in controlling oil prices

The continuing surge in oil prices is proving Opec's limited influence on the market despite the cartel committing to increasing its production ceiling, analysts said.
Published 27 Sep, 2004 12:00am
Singapore to speed up outsourcing plans

Singapore to speed up outsourcing plans

Singapore's government is planning to speed up its outsourcing plans with 12 major services in line to be contracted out, press reports said Sunday.
Published 27 Sep, 2004 12:00am
Iraq locked in 5 million barrels per month Kirkuk deals

Iraq locked in 5 million barrels per month Kirkuk deals

Iraq has locked in five million barrels per month of Kirkuk oil supply contracts and aims to sell another five million in monthly spot sales as sabotage creates uncertainty over northern crude supplies, a top Iraqi oil official said on Sunday.
Published 27 Sep, 2004 12:00am
Lufthansa to boost flights to Asia

Lufthansa to boost flights to Asia

German flag carrier Lufthansa plans to boost by 50 percent its flights to China by 2007, company chairman Wolfgang Mayrhuber told Sunday's Frankfurter Allgemeine Sonntagszeitung.
Published 27 Sep, 2004 12:00am
Greek finance minister defends deficit revision

Greek finance minister defends deficit revision

Greece's finance minister rejected on Sunday criticism that his big revision of past budget deficit data opened the economy to risks, including a credit rating cut, saying it was done in the interest of credibility.
Published 27 Sep, 2004 12:00am
Iranian parliament softens law on investment

Iranian parliament softens law on investment

Iran's parliamentarians on Sunday softened a bill to block foreign investment, limiting its range to two Turkish ventures that they accuse of links to Tehran's arch-foe Israel.
Published 27 Sep, 2004 12:00am
Afghans kill senior Taleban commander

Afghans kill senior Taleban commander

A senior commander from Afghanistan's Taleban militia previously held at a US base in Guantanamo Bay was killed by Afghan forces in the central province of Uruzgan, a senior official said on Sunday.
Published 27 Sep, 2004 12:00am
Nations gather in to help protect most threatened species

Nations gather in to help protect most threatened species

The trade in some of the world's rarest species from the fearsome great white shark to the delicate orchid will be scrutinised here this week, accompanied by demands for tougher action against smugglers.
Published 27 Sep, 2004 12:00am
15 killed in Turkey

15 killed in Turkey

Fifteen people were killed and 10 others injured in eastern Turkey late on Saturday when a minibus that was carrying them to a wedding party crashed head-on with a truck, local officials told Anatolia news agency.
Published 27 Sep, 2004 12:00am
Insurgency 'getting worse,' makes polls difficult: Powell

Insurgency 'getting worse,' makes polls difficult: Powell

US Secretary of State Colin Powell warned Sunday that organising Iraqi elections in January could prove difficult because of spiralling violence in the country, where he acknowledged the insurgency was "getting worse."
Published 27 Sep, 2004 12:00am
North Korea stepping up activity at missile bases

North Korea stepping up activity at missile bases

Increased activity has been observed at about 10 missile bases in North Korea and this could be seen as preparation for a launch, a Japanese press report said Sunday.
Published 27 Sep, 2004 12:00am
Japans ruling party hit by scandal

Japans ruling party hit by scandal

A former key man in Japan's long-ruling conservative party was formally charged in a money scandal on Sunday on the eve of a reshuffle of Prime Minister Junichiro Koizumi's government.
Published 27 Sep, 2004 12:00am
Al Aqsa compound at risk of collapse: Israel

Al Aqsa compound at risk of collapse: Israel

An Israeli minister raised fears on Sunday about the possible collapse of part of the Al Aqsa mosque compound in Jerusalem during the Muslim holy month of Ramazan which begins next month.
Published 27 Sep, 2004 12:00am
Frenchman shot dead in Saudi Arabia

Frenchman shot dead in Saudi Arabia

A Frenchman was shot dead in the Red Sea city of Jeddah early on Sunday in what Saudi officials said was a "terrorist attack," the second shooting of a Westerner in the oil-rich kingdom in 10 days.
Published 27 Sep, 2004 12:00am
Turkish parliament approves EU-backed reforms

Turkish parliament approves EU-backed reforms

Turkey cleared a hurdle on its long path towards European Union membership on Sunday when its parliament approved a new penal code which will boost women's rights and punish police more severely for torture.
Published 27 Sep, 2004 12:00am
Hamas vows revenge after top leader killed in Damascus

Hamas vows revenge after top leader killed in Damascus

A founding member of Hamas was killed in a car bombing in the Syrian capital Damascus on Sunday in an attack blamed on Israel by the Palestinian movement which vowed to wreak a bloody revenge.
Published 27 Sep, 2004 12:00am
Australian government targets security in election bid

Australian government targets security in election bid

Australian Prime Minister John Howard officially launched his government's campaign on Sunday for an October 9 election with billion-dollar promises to woo voters and a defiant stand against terror.
Published 27 Sep, 2004 12:00am
Bomb alert prompts Greek plane to land in London

Bomb alert prompts Greek plane to land in London

A bomb threat prompted a Greek Olympic Airlines passenger plane to make an emergency landing, escorted by British Tornado jets, at London's Stansted Airport on Sunday.
Published 27 Sep, 2004 12:00am
Turkmen leader's morality code aims to reform youth

Turkmen leader's morality code aims to reform youth

Long hair, beards and tattoos may be all very well in the West but better is expected of Turkmenistan's youth, as President Saparmurat Niyazov makes clear in his latest 500-page tome landing on teachers' desks round about now.
Published 27 Sep, 2004 12:00am
Afghan farmers see little hope of livelihood without opium

Afghan farmers see little hope of livelihood without opium

A television, a video-recorder, a new roof, new house, new car, education for five children - without opium, such things are mere dreams for farmers in remote north-east Afghanistan who see little hope for a better life without the black gold.
Published 27 Sep, 2004 12:00am
AIDS worsens slowly but surely in Japan

AIDS worsens slowly but surely in Japan

For the last five years, gynaecologist Tsuneo Akaeda has been venturing into the heart of Tokyo's clubland to raise the alarm over the spread of AIDS in Japan, a predicament he warns "is soon going to explode".
Published 27 Sep, 2004 12:00am
Refugees dream of peace from Afghan election

Refugees dream of peace from Afghan election

In the middle of this remote desert in southern Afghanistan, thousands of Afghans languish in Zare Dashte camp, fugitives from violence in their northern homelands.
Published 27 Sep, 2004 12:00am
Partly Facetious: now vodka also from Kalashnikov

Partly Facetious: now vodka also from Kalashnikov

"I just heard General Kalashnikov." "Don't be facetious, next you will be referring to al Qaeda recruitment centre against George Bush or pro-Waziristan recruitment centre against Musharraf."
Published 27 Sep, 2004 12:00am
Strategic development of tourism

Strategic development of tourism

The world celebrates International Tourism Day on 27th September, marking its silver jubilee. The World Tourism Organisation (WTO), leading world-wide inter-governmental body in the field of tourism, has launched the day, Malaysia playing as the host coun
Published 27 Sep, 2004 12:00am
National Assembly questions on PIA

National Assembly questions on PIA

During the recent session of the National Assembly, the parliamentary secretary for Defence, while replying to members' queries, stated that a spate of fire incidents on brand new Boeing 777s, was due to use of a defective brand of grease.
Published 27 Sep, 2004 12:00am
The Prime Minister and the task ahead

The Prime Minister and the task ahead

The task before Shaukat Aziz and his government is immense. According to UNDP's Human Development Report, "Pakistan ranks 142 among 171 countries on the Human Development Index (HDI) and 65.6 percent of the country's population is said to be living on two
Published 27 Sep, 2004 12:00am
Educating business taxpayers

Educating business taxpayers

After finance act, 2004, I was trying to convince my employer regarding his apprehensions about taxes. I said, "Now the Government has made almost every effort to facilitate the taxpayer in the payment of taxes."
Published 27 Sep, 2004 12:00am
A new hope for Kashmir settlement

A new hope for Kashmir settlement

The eagerly awaited meeting between President General Pervez Musharraf and the Indian Prime Minister, Manmohan Singh, which took place in New York on Friday, has indeed turned out to be as promising as foretold by the two countries' officials. After their
Published 27 Sep, 2004 12:00am
ADB's assessment of the economy

ADB's assessment of the economy

According to the latest assessment of the Asian Development Bank (ADB), Pakistan's economy has made a robust recovery during the last four years, but there are some areas which may face downward shifts during 2004-05.
Published 27 Sep, 2004 12:00am
Lara hails West Indies' heroic duo

Lara hails West Indies' heroic duo

Captain Brian Lara praised the efforts of tailenders Courtney Browne and Ian Bradshaw after the unlikely duo had guided the West Indies to a two-wicket win over England in the ICC Champions Trophy here at the Oval on Saturday.
Published 27 Sep, 2004 12:00am
Indian team arrives

Indian team arrives

A major international event in the history of Balochistan's hockey will take place after about a decade when India and Pakistan will meet each other in the second match of eight-Test series at General Musa Polygrass hockey ground here on Monday afternoon.
Published 27 Sep, 2004 12:00am
Pakistan fear TV blackout in court dispute

Pakistan fear TV blackout in court dispute

A dispute over television rights could affect coverage of Pakistan's forthcoming tri-series and Test matches against Zimbabwe and Sri Lanka, cricket officials fear.
Published 27 Sep, 2004 12:00am
Zimbabwe crash to innings defeat

Zimbabwe crash to innings defeat

Zimbabwe's inexperienced team crashed to an innings and 38-run defeat against the Pakistan Cricket Board Patron's XI on the fourth and final day of the tour game at Gaddafi stadium here on Sunday.
Published 27 Sep, 2004 12:00am
One killed as bus turns turtle

One killed as bus turns turtle

A Karachi-bound bus turned turtle near Dera Ghazi Khan at 2:00 am resultantly 39 people sustained injuries, ten of them were in precarious condition. One of them succumbed to injuries in Hospital before getting any medical aid.
Published 27 Sep, 2004 12:00am
Motorway police collects Rs 114.77 million fine

Motorway police collects Rs 114.77 million fine

Motorway Police of N-5 central zone challaned 424,751 vehicles on various charges realising fine of Rs 114.77 million during the first eight months of the calendar year.
Published 27 Sep, 2004 12:00am
Criteria for 'Crown and Excellence Awards' announced

Criteria for 'Crown and Excellence Awards' announced

The International Public Relations Association (IPRA) Pakistan on Sunday announced the criteria for 'Crown and Excellence Awards-2004' for most deserving persons from PR, Advertising, Print and Electronic media through transparent a way.
Published 27 Sep, 2004 12:00am
Rexine godown gutted

Rexine godown gutted

Rexine and material worth hundreds and thousands of rupees were reduced to ashes when a fire broke out in a godown near Munshi Hospital, Bund road here on Sunday.
Published 27 Sep, 2004 12:00am
LMC 10th anniversary on September 28

LMC 10th anniversary on September 28

On the occasion of celebrating 10 years of excellence and achievement in Pakistan, Lahore Marketing Corporation (LMC), the sole distributors of Keune, is holding 'Demonstration 2004' here on Tuesday, September 28, at Hotel Regent Plaza.
Published 27 Sep, 2004 12:00am
SUIT Peshawar charter to be cancelled

SUIT Peshawar charter to be cancelled

Professor Dr Atta-ur-Rahman, Chairman, (Federal Minister) HEC has informed Sarhad University of Science and Information Technology (SUIT), Peshawar that they do not meet the minimum criteria laid down by the cabinet for grant of charter.
Published 27 Sep, 2004 12:00am
PML convention backs Musharraf in uniform

PML convention backs Musharraf in uniform

PML workers' convention passed a resolution asking President Pervez Musharraf to retain the offices of COAS and President simultaneously.
Published 27 Sep, 2004 12:00am
HEC plans to call back talented expatriates

HEC plans to call back talented expatriates

The Higher Education Commission (HEC) has recently launched a programme designed to support faculty and research development in the disciplines of agriculture and engineering and fields related to these sectors.
Published 27 Sep, 2004 12:00am
Punjab chief minister takes note of Nankana incident

Punjab chief minister takes note of Nankana incident

Punjab Chief Minister Chaudhry Pervaiz Elahi has taken strict notice of incident in Nankana on Saturday, and directed Punjab IG Police to immediately reach the site for probing into the matter.
Published 27 Sep, 2004 12:00am
New Reap managing committee members hailed

New Reap managing committee members hailed

The Union of Small and Medium Enterprises (Unisame) has congratulated Farooq Amir, Arshad A. Khaliq, Mohammad Hassanally, Mehboob Ahmed and Aziz Mania on their election as Reap managing committee members of South Zone for a period of three years.
Published 27 Sep, 2004 12:00am
ORIX declares Rs 306 million profit

ORIX declares Rs 306 million profit

The Board of Directors of ORIX Leasing Pakistan Limited announced a record profit of Rs 306 million for the year ended June 30, 2004, against a profit of Rs 226 million in the previous year and a cash dividend of 30 percent (2003: 25 percent).
Published 27 Sep, 2004 12:00am
ORIX declares Rs 306 million profit

ORIX declares Rs 306 million profit

The Board of Directors of ORIX Leasing Pakistan Limited announced a record profit of Rs 306 million for the year ended June 30, 2004, against a profit of Rs 226 million in the previous year and a cash dividend of 30 percent (2003: 25 percent).
Published 27 Sep, 2004 12:00am
Habitat Day

Habitat Day

Pakistan will celebrate world Habitat Day on October 6 as elsewhere in the world.
Published 27 Sep, 2004 12:00am
Pace of trading slows down on commodity markets

Pace of trading slows down on commodity markets

Trading pace shrank further in wholesale commodity markets during the week ended on September 24, 2004. The few commodities fluctuated were wheat, plastic mouldings, tea, raw rubbers rape seed and cottonseed and cotton cakes, guwar and bajra.
Published 27 Sep, 2004 12:00am
Prices seen vulnerable on cotton market

Prices seen vulnerable on cotton market

Cotton news coming through newspaper reports vindicate if things remain same until mid-October, spinners will probably not repeat the past mistake to import, relevant sources said adding that ginners are at their wits' end over relentless seed cotton arri
Published 27 Sep, 2004 12:00am
Labour party holds demonstration against 'uniform'

Labour party holds demonstration against 'uniform'

A large number of workers and activities of the Labour Party Pakistan held a peaceful protest demonstration in front of the Lahore Press Club on Sunday against President's uniform. They demanded of President Musharraf to doff uniform in the larger interes
Published 27 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 27 Sep, 2004 12:00am