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Nov 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-10-13
UN proposes $97 million overhaul of security system

UN proposes $97 million overhaul of security system

The United Nations proposed on Monday a major $97 million overhaul of its security system with 778 new posts, a response to devastating safety reports after the 2003 bombing of its offices in Iraq.
Published 13 Oct, 2004 12:00am
Afghan vote count on hold after dispute breakthrough

Afghan vote count on hold after dispute breakthrough

Three opposition candidates lodged complaints Tuesday of irregularities in Afghanistan's milestone election as ballots from 5,000 polling stations piled up waiting to be counted.
Published 13 Oct, 2004 12:00am
Lukewarm response to 'Bride and Prejudice'

Lukewarm response to 'Bride and Prejudice'

Bollywood star and former Miss World Aishwarya Rai's much-hyped debut international film, "Bride and Prejudice", received a lukewarm response at its opening weekend in Bombay, analysts said on Tuesday.
Published 13 Oct, 2004 12:00am
Iran won't be made to end uranium enrichment

Iran won't be made to end uranium enrichment

The EU cannot force Iran to give up its right to enrich uranium, Iran's foreign minister said, apparently slamming the door on European Union efforts to halt the process and ease fears Tehran is seeking a nuclear bomb.
Published 13 Oct, 2004 12:00am
Iranian vice President quits

Iranian vice President quits

Iranian vice President Mohammad Ali Abtahi, one of the Islamic state's most outspoken liberal clerics, said on Tuesday he had left his post because religious hard-liners were preventing him from carrying out his job.
Published 13 Oct, 2004 12:00am
Bush moves into dead heat with Kerry: poll

Bush moves into dead heat with Kerry: poll

President George W. Bush bounced back into a tie with Democratic challenger John Kerry one day before their final debate, according to a Reuters/Zogby poll released on Tuesday.
Published 13 Oct, 2004 12:00am
Rumsfeld appeals for Nato help in Iraq

Rumsfeld appeals for Nato help in Iraq

US Defence Secretary Donald Rumsfeld said Tuesday that Iraqi security forces needed equipment as well as training and anything Nato allies could do to support them would helpful.
Published 13 Oct, 2004 12:00am
Nine Maoists killed in Nepal

Nine Maoists killed in Nepal

Nine Maoist rebels were killed in clashes with security forces across Nepal, a security official said Tuesday.
Published 13 Oct, 2004 12:00am
Iraq says open to UN inspectors

Iraq says open to UN inspectors

If UN nuclear inspectors want to return to Iraq to check for missing equipment and materials, they are welcome, a government minister said on Tuesday.
Published 13 Oct, 2004 12:00am
Britain admits error over Iraq amid demands of apology

Britain admits error over Iraq amid demands of apology

The British government Tuesday formally withdrew one of the key arguments it had used for invading Iraq, as it faced demands in parliament for a "full apology" on how it presented the case for war.
Published 13 Oct, 2004 12:00am
Sterling falls against the dollar

Sterling falls against the dollar

Sterling fell more than half a percent against the dollar on Tuesday as news of a surprise fall in British inflation bolstered expectations that interest rates would not go up again this year.
Published 13 Oct, 2004 12:00am
Dollar retraces post jobs loss

Dollar retraces post jobs loss

The dollar rose across the board in post holiday technical-driven trade on Tuesday, retracing nearly all of the losses made last week in the wake of disappointing US jobs data.
Published 13 Oct, 2004 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks slipped Tuesday as investors showed caution ahead of tech bellwether Intel Corp's earnings, while disappointing results from State Street Corp cast a cloud over the banking sector.
Published 13 Oct, 2004 12:00am
Bonds: Sainsbury and Carrefour put retailers in focus

Bonds: Sainsbury and Carrefour put retailers in focus

Retailers were in focus early on Tuesday as British grocer Sainsbury had its credit ratings cut and a newspaper report suggested French retailer Carrefour could issue a profit warning later in the day.
Published 13 Oct, 2004 12:00am
Bonds: Sainsbury and Carrefour put retailers in focus

Bonds: Sainsbury and Carrefour put retailers in focus

Retailers were in focus early on Tuesday as British grocer Sainsbury had its credit ratings cut and a newspaper report suggested French retailer Carrefour could issue a profit warning later in the day.
Published 13 Oct, 2004 12:00am
Seoul shares plunge

Seoul shares plunge

Seoul stocks closed 2.6 percent lower on Tuesday, as worse-than-expected quarterly earnings from LG.Philips LCD raised concerns about slowing corporate profits and sparked a selloff in the technology sector.
Published 13 Oct, 2004 12:00am
Britain's top share index falls; financial shares retreat

Britain's top share index falls; financial shares retreat

Britain's top shares fell on Tuesday, rattled by crude prices which soared to new record highs for a sixth day running, threatening a harder hit to the UK economy amid new signs of slowing growth.
Published 13 Oct, 2004 12:00am
London cocoa settles off two week high

London cocoa settles off two week high

London cocoa futures finished lower on Tuesday, backtracking from a two-week high, as participants judged the previous session's gains to be overdone.
Published 13 Oct, 2004 12:00am
Record corn, soya and cotton crops to sink prices: USDA

Record corn, soya and cotton crops to sink prices: USDA

US farmers will reap huge crops that far exceed previous American records, the government said on Tuesday, forecasting a harvest of 11.613 billion bushels of corn, 3.11 billion bushels of soyabeans and 21.545 million bales of cotton.
Published 13 Oct, 2004 12:00am
Oil unrelenting near $54, edgy over winter supply

Oil unrelenting near $54, edgy over winter supply

Oil prices held near historic highs over $53 a barrel on Tuesday, with global supplies hounded by outages that were thwarting efforts to build US heating oil inventories ahead of the winter.
Published 13 Oct, 2004 12:00am
Oil ends lower after vault over $54

Oil ends lower after vault over $54

Oil prices jumped to record highs above $54 on Tuesday as supply hitches hindered efforts to build winter heating fuel inventories. They later shed over a $1 a barrel as traders took profits from the surge. US crude set a record $54.45 a barrel, marking a
Published 13 Oct, 2004 12:00am
Oil ends lower after vault over $54

Oil ends lower after vault over $54

Oil prices jumped to record highs above $54 on Tuesday as supply hitches hindered efforts to build winter heating fuel inventories. They later shed over a $1 a barrel as traders took profits from the surge. US crude set a record $54.45 a barrel, marking a
Published 13 Oct, 2004 12:00am
Strike ends at giant South African platinum mine

Strike ends at giant South African platinum mine

A strike at one of the world's top platinum producers ended Tuesday, while a breakthrough was close at hand at another after a nearly two-week-long wage protest in South Africa, unions and management said.
Published 13 Oct, 2004 12:00am
New York cotton closes down

New York cotton closes down

NYBOT cotton settled lower Tuesday on speculative selling in the face of a record crop, and analysts said more losses could be in store for the market.
Published 13 Oct, 2004 12:00am
Argentina crops still hampered by dry soil

Argentina crops still hampered by dry soil

Argentine farmers anxious to seed corn and sunflower seeds were still waiting for a significant rainfall by the end of last week, the government said on Tuesday in its weekly crop report.
Published 13 Oct, 2004 12:00am
Thai rubber hits new high

Thai rubber hits new high

Thai rubber futures ended higher on Tuesday as oil prices held near historic highs and investors believed demand will shift to natural rubber from the synthetic variety made from petrochemical products, brokers said.
Published 13 Oct, 2004 12:00am
LME copper slips on technicals

LME copper slips on technicals

London Metal Exchange (LME) copper eased in Tuesday's midsession weighed by technical selling and a softer market in Asia following a move by the Shanghai Futures Exchange to raise margins, traders said.
Published 13 Oct, 2004 12:00am
Funds kick gold lower in Europe

Funds kick gold lower in Europe

Gold stumbled in Europe on Tuesday afternoon after a firm dollar triggered fund liquidation, but strong oil prices and overall dollar uncertainty should limit losses, dealers said.
Published 13 Oct, 2004 12:00am
US MIDDAY: coffee extend losses on funds selling

US MIDDAY: coffee extend losses on funds selling

US coffee futures extended losses for the second consecutive session, with funds selling on ebbing concerns about tree flowering for next year's crop in top grower Brazil, traders said on Tuesday.
Published 13 Oct, 2004 12:00am
US MIDDAY: sugar at new highs on fund buying

US MIDDAY: sugar at new highs on fund buying

Raw sugar futures on Tuesday settled at a fresh 3-year high on robust fund buying as the market's bullish fundamentals were expected to power the sweetener to higher ground in the days ahead, brokers said.
Published 13 Oct, 2004 12:00am
US MIDDAY: wheat higher on supportive stocks

US MIDDAY: wheat higher on supportive stocks

Soft red winter (SRW) wheat futures at the Chicago Board of Trade higher early Tuesday on supportive wheat stocks numbers released by USDA and on a bounce from oversold technicals, traders said.
Published 13 Oct, 2004 12:00am
US MIDDAY: corn tumbles on commercial pricing

US MIDDAY: corn tumbles on commercial pricing

Corn futures at the Chicago Board of Trade were lower midday Tuesday, after tumbling earlier to contract lows on a bigger-than-expected government crop estimate released before the open, traders said.
Published 13 Oct, 2004 12:00am
US MIDDAY: soya sinks on USDA forecast

US MIDDAY: soya sinks on USDA forecast

Chicago Board of Trade soyabean futures were sharply lower at midday Tuesday after the USDA forecast a surprisingly large 2004 US soyabean crop and only minimally boosted usage estimates, brokers said.
Published 13 Oct, 2004 12:00am
Five HIV treatment centers to be set up

Five HIV treatment centers to be set up

Health Ministry has decided to establish five centers in public sector hospitals for the provision of free of cost treatment facilities to HIV positive individuals.
Published 13 Oct, 2004 12:00am
Country's first spinal clinic opens at LNH

Country's first spinal clinic opens at LNH

Liaquat National Hospital (LNH) has set up the country's first-ever latest 'Spinal Clinic' at its Neuro Surgery Department at a cost of Rs 25 million.
Published 13 Oct, 2004 12:00am
Partly Facetious: not too tough yet for government

Partly Facetious: not too tough yet for government

"Did you know there is complete sectarian harmony in the country?" "I know our Disinformation Minister said that but you know that the common policy that all our administrations have supported is one of denial. Deny that there is sectarian disharmony and
Published 13 Oct, 2004 12:00am
Supreme Court summons Sindh IGP in kidnapping case

Supreme Court summons Sindh IGP in kidnapping case

A two-member bench of the Supreme Court on Tuesday issued notice to the Inspector-General of Police, Sindh, Syed Kamal Shah, to appear before it in person, and directed to submit report about the arrest of accused Abdul Karim in kidnapping case of two per
Published 13 Oct, 2004 12:00am
Extraordinary buoyancy in economy witnessed: report

Extraordinary buoyancy in economy witnessed: report

Pakistan is witnessing today an extra-ordinary buoyancy in its economy, with stage set for economic growth accelerating to seven to eight percent per annum over the next three to four years with the private sector playing a leading role.
Published 13 Oct, 2004 12:00am
German companies keen for joint ventures in various sectors

German companies keen for joint ventures in various sectors

The German companies, representing environment protection, information technology (IT) and telecom, construction, spinning and knitting, surgical goods etc have shown keen interest to start joint ventures with Pakistani counterparts.
Published 13 Oct, 2004 12:00am
President in uniform

President in uniform

There have been statements and counter-statements on the issue of the President in uniform but the problem does not seem to have been solved. We feel that if we tackle this issue, with practical sense. We can find a way out.
Published 13 Oct, 2004 12:00am
Agro-scientist's effort

Agro-scientist's effort

I have read in your October 8 edition a report about the launching of a book on Swaminathan, an Indian agro-scientist, who according to Sartaj Aziz, former Federal Ministter for Agriculture and then Finance and Foreign Affairs, had increased by several fo
Published 13 Oct, 2004 12:00am
Postponement of board meetings

Postponement of board meetings

Recently new trend of postponement of planned board meetings of listed companies has started. The excuses are given that directors are not available or the quorum is not complete.
Published 13 Oct, 2004 12:00am
New investment and industrial policies

New investment and industrial policies

Welcoming the Ministers to the first meeting of the Cabinet at Islamabad on 16th September, the Prime Minister reportedly identified the principal goals of his government as law and order, employment generation, stability of prices, good governance and th
Published 13 Oct, 2004 12:00am
KEPZ exports to tariff area

KEPZ exports to tariff area

The Central Board of Revenue (CBR) has relaxed the recently imposed restriction on manufacturing units located in the Karachi Export Processing Zone (KEPZ) exporting their finished goods to the country's tariff area.
Published 13 Oct, 2004 12:00am
NFC Award

NFC Award

While on his visit to Quetta, Prime Minister Shaukat Aziz announced that the National Finance Commission (NFC) would be convened again next month to finalise the financial Award.
Published 13 Oct, 2004 12:00am
Johi branch canal to get water till October 20

Johi branch canal to get water till October 20

Keeping in view the paucity of water in River Indus, the Executive Engineer, Northern Dadu Division, Larkana notified on Tuesday that water will only be allowed to flow in Johi branch of Southern Dadu division up to October 20.
Published 13 Oct, 2004 12:00am
Chief Justice LHC dismisses driver

Chief Justice LHC dismisses driver

Chief Justice of the Lahore High Court (LHC) Justice Iftikhar Hussain Chaudhry dismissed a driver Mehmood-ul-Hassan working at Rawalpindi bench on account of his absence from duty since September 6, 2003 without any intimation.
Published 13 Oct, 2004 12:00am
PPM approaches LHC

PPM approaches LHC

Chairman Pakistan People's Movement Muhammad Ishfaque Chaudhry has approached Chief Justice Lahore High Court (LHC) with prayer to direct the office to place his petition before any bench of the august court for its disposal in accordance with the law.
Published 13 Oct, 2004 12:00am
UVAS bilingual debate contest held

UVAS bilingual debate contest held

the debate club of the University of Veterinary and Animal Sciences (UVAS), Lahore, arranged a bilingual debate contest titled "Iqbal's Dream and Today's Pakistan" here on Tuesday.
Published 13 Oct, 2004 12:00am
Lahore Dry Port Trust soon

Lahore Dry Port Trust soon

Lahore Chamber of Commerce & Industry (LCCI) executive committee and former LCCI presidents have decided to take practical steps for early construction of Lahore Dry Port Trust so as to ensure free and quick handling of international cargo.
Published 13 Oct, 2004 12:00am
Call for providing modern education to students

Call for providing modern education to students

Provincial Minister for Special Education, Qudsia Lodhi has stressed the need for providing modern education to the students which encompasses all aspects of human personality for their spiritual, moral and physical growth.
Published 13 Oct, 2004 12:00am
Inexpensive power to industry demanded

Inexpensive power to industry demanded

Without ensuring provision of water to agriculturists as per their requirements and cheaper electricity to industry, national products could not compete with the products of neighbouring and developed countries.
Published 13 Oct, 2004 12:00am
'No progress without promotion of education'

'No progress without promotion of education'

Punjab Minister for Bait-ul-Mal Chaudhry Ejaz Shafi has said that the progress is not possible without the promotion of education and the present government is focusing the education sector by providing all possible assistance to this field in order to me
Published 13 Oct, 2004 12:00am
LHC transfers and postings

LHC transfers and postings

The Lahore High Court (LHC) Chief Justice has made transfers and postings among two District and Session Judges and 12 Additional District and Session Judges.
Published 13 Oct, 2004 12:00am
Workshop on broadcast management

Workshop on broadcast management

A two-day workshop on "Broadcast management" was held at the Serena Hotel Islamabad on Monday and Tuesday.
Published 13 Oct, 2004 12:00am
Rs 55 million collected as property tax

Rs 55 million collected as property tax

Rawalpindi and Chaklala cantonment boards have received Rs 55 million in the head of property tax in the cantonment areas, while they decided to take the defaulters to task.
Published 13 Oct, 2004 12:00am
The Weather

The Weather

The weather report on Tuesday (October 12) and the forecast for Wednesday (October 13, 2004).
Published 13 Oct, 2004 12:00am
Four Iesco employees suspended for delinquency

Four Iesco employees suspended for delinquency

The Chief Executive Officer (CEO) of Islamabad Electric Supply Company (Iesco), Brigadier Shahbaz Azam, has suspended the entire staff of G-9 complaint office for negligence in redressing public complaints.
Published 13 Oct, 2004 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 13 Oct, 2004 12:00am
Bahria college wins top positions in English contest

Bahria college wins top positions in English contest

Students of Bahria College, NORE-I, Karachi begged first three positions in English speech contest here at the third day of annual academic week celebrated by the Federal Board and Intermediate and Secondary Education (FBISE), Islamabad.
Published 13 Oct, 2004 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 13 Oct, 2004 12:00am
Industrial estate to be set up in Rahim Yar Khan

Industrial estate to be set up in Rahim Yar Khan

Punjab Chief Minister Chaudhry Pervaiz Elahi chairing a meeting held here on Tuesday to review pace of work in Sundar Industrial Estate has announced a number of steps for promotion of industrial development in the province to start with the establishment
Published 13 Oct, 2004 12:00am
Sector I-14 development: encroachment to be removed

Sector I-14 development: encroachment to be removed

The Capital Development Authority (CDA) has planned to vacate nearly 2100 acres of land in Sheikh Pur village from encroacher for the development of new Sector I-14, Business Recorder reliably learnt on Tuesday.
Published 13 Oct, 2004 12:00am
Lawyers observe Black Day

Lawyers observe Black Day

Lawyers community observed Black Day on Tuesday in protest against toppling of an elected government of Nawaz Sharif by General Pervez Musharraf on October 12, 1999.
Published 13 Oct, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (October 12, 2004)
Published 13 Oct, 2004 12:00am
Pak-Mauritian ministerial group to promote trade

Pak-Mauritian ministerial group to promote trade

The formation of Pak-Mauritian Joint Ministerial Working Group would not only bolster economic and commercial ties between the two countries, but also bring the people of two friendly states closer.
Published 13 Oct, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (October 12, 2004).
Published 13 Oct, 2004 12:00am
AJKCCI nominates Saeed for FPCCI top slot

AJKCCI nominates Saeed for FPCCI top slot

The Azad Jammu and Kashmir Chamber of Commerce and Industry (AJKCCI) here on Tuesday unanimously nominated AJK business community leader Chaudhry Mohammad Saeed as candidate for the office of the president of the Federation of Pakistan Chambers of Commerc
Published 13 Oct, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (October 12) and rates for Wednesday (October 13, 2004).
Published 13 Oct, 2004 12:00am
Rawalpindi Chamber inks MoU with British trade team

Rawalpindi Chamber inks MoU with British trade team

Rawalpindi Chamber of Commerce and Industry (RCCI) and visiting British trade delegation have signed Memorandum of Understanding (MoU) according to which both the sides would disseminate trade and investment publication/information and will exchange deleg
Published 13 Oct, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (October 12, 2004).
Published 13 Oct, 2004 12:00am
New Islamabad airport project yet to be launched

New Islamabad airport project yet to be launched

Infrastructure is a basic requirement for development and progress of the country. None has second opinion to its importance. Importance of infrastructure increases manifolds if it is related to the construction of airport and that too if for the capital
Published 13 Oct, 2004 12:00am
Women ministry and UNDP sign $4.5 million assistance plan

Women ministry and UNDP sign $4.5 million assistance plan

The Women Development Ministry and United Nations Development Programme (UNDP) have signed a $4.5 million grant aid programme "Women political school" for political education and training of women elected to political office in Pakistan.
Published 13 Oct, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence at Port Qasim report incorporating changes till 7 am on Tuesday (October 12, 2004).
Published 13 Oct, 2004 12:00am
CBR to issue combined revamped reward rules

CBR to issue combined revamped reward rules

The Central Board of Revenue (CBR) will issue totally revamped reward rules for customs, sales tax and central excise officials on the basis of going reforms, best tax practices in other countries and recommendations of international donors and Federal Ta
Published 13 Oct, 2004 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence at Port Qasim report incorporating changes till 7 am on Tuesday (October 12, 2004).
Published 13 Oct, 2004 12:00am
FHBM registers 13 percent lease growth

FHBM registers 13 percent lease growth

The First Habib Bank Modaraba (FHBM) on Tuesday announced that it has registered a 13 percent new lease growth for the year ending June 2004 as compared to the preceding year.
Published 13 Oct, 2004 12:00am
FHBM registers 13 percent lease growth

FHBM registers 13 percent lease growth

The First Habib Bank Modaraba (FHBM) on Tuesday announced that it has registered a 13 percent new lease growth for the year ending June 2004 as compared to the preceding year.
Published 13 Oct, 2004 12:00am
THE RUPEE: 14 paisa loss on high demand for dollar

THE RUPEE: 14 paisa loss on high demand for dollar

High dollar demand for oil payments and low inflow pushed the rupee sharply down in the inter-bank market on Tuesday, losing 14 paisa versus dollar at Rs 59.53 and Rs 59.55 for buying and selling, respectively, dealers said. Sky-high increase in world oil
Published 13 Oct, 2004 12:00am
THE RUPEE: 14 paisa loss on high demand for dollar

THE RUPEE: 14 paisa loss on high demand for dollar

High dollar demand for oil payments and low inflow pushed the rupee sharply down in the inter-bank market on Tuesday, losing 14 paisa versus dollar at Rs 59.53 and Rs 59.55 for buying and selling, respectively, dealers said. Sky-high increase in world oil
Published 13 Oct, 2004 12:00am
Pakistan and Romania pledge economic cooperation

Pakistan and Romania pledge economic cooperation

Pakistan and Romania pledged greater bilateral cooperation, particularly in the economic field, as new windows are opening for the private sector with Romania's membership of European Union and conducive investment climate is available in Pakistan.
Published 13 Oct, 2004 12:00am
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