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Print - 2004-10-23
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
ISE equities show negative signs

ISE equities show negative signs

Equities showed negative signs at the Islamabad Stock Exchange (ISE) where bears dominated the proceedings amid decrease in index. ISE network index declined by 61.48 points as the price-based indicator moved from 11,731.30 to 11,669.82 points.
Published 23 Oct, 2004 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
NCEL asked to facilitate small farmers

NCEL asked to facilitate small farmers

The Governor of State Bank of Pakistan Dr Ishrat Husain has asked the National Commodity Exchange Limited (NCEL) to ensure protection of small farmers' interests. He stated this during his visit to the NCEL here on Friday.
Published 23 Oct, 2004 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
NCEL asked to facilitate small farmers

NCEL asked to facilitate small farmers

The Governor of State Bank of Pakistan Dr Ishrat Husain has asked the National Commodity Exchange Limited (NCEL) to ensure protection of small farmers' interests. He stated this during his visit to the NCEL here on Friday.
Published 23 Oct, 2004 12:00am
CBR seeks data of salaried persons' employers

CBR seeks data of salaried persons' employers

The Central Board of Revenue (CBR) will issue letters to all those salaried persons who failed to submit names and addresses of their employers in the income tax returns for the 'tax year 2003'. The CBR on Friday issued instructions to all Commissioners o
Published 23 Oct, 2004 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
CBR seeks data of salaried persons' employers

CBR seeks data of salaried persons' employers

The Central Board of Revenue (CBR) will issue letters to all those salaried persons who failed to submit names and addresses of their employers in the income tax returns for the 'tax year 2003'. The CBR on Friday issued instructions to all Commissioners o
Published 23 Oct, 2004 12:00am
LSE remains listless

LSE remains listless

Activity was dull in local stock market on the last trading day of the week where shares values remained depressed while the index ended with a weak note amid retreating volume of transactions. The LSE-25 index finished at 2715.66 points as against 2716.5
Published 23 Oct, 2004 12:00am
LSE remains listless

LSE remains listless

Activity was dull in local stock market on the last trading day of the week where shares values remained depressed while the index ended with a weak note amid retreating volume of transactions. The LSE-25 index finished at 2715.66 points as against 2716.5
Published 23 Oct, 2004 12:00am
KSE remains dull with low turnover

KSE remains dull with low turnover

The short session at KSE on Friday failed to provide any support to the share market where index recorded range-bound movement under low turnover. The KSE-100 index rose 5.45 points, or 0.10 percent, to 5458.32 as compared with 5452.87 of Thursday. The vo
Published 23 Oct, 2004 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
KSE remains dull with low turnover

KSE remains dull with low turnover

The short session at KSE on Friday failed to provide any support to the share market where index recorded range-bound movement under low turnover. The KSE-100 index rose 5.45 points, or 0.10 percent, to 5458.32 as compared with 5452.87 of Thursday. The vo
Published 23 Oct, 2004 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
Nepra to determine tariff for Thar power plants

Nepra to determine tariff for Thar power plants

The National Electric Power Regulatory Authority (Nepra) has been assigned to analyse tariff profile and technical data provided by the Chinese company for the installation of two 300 megawatt coal-based power plants in Thar, sources told Business Reco
Published 23 Oct, 2004 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
Nepra to determine tariff for Thar power plants

Nepra to determine tariff for Thar power plants

The National Electric Power Regulatory Authority (Nepra) has been assigned to analyse tariff profile and technical data provided by the Chinese company for the installation of two 300 megawatt coal-based power plants in Thar, sources told Business Reco
Published 23 Oct, 2004 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 23 Oct, 2004 12:00am
Drawback on artificial leather reduced

Drawback on artificial leather reduced

The Central Board of Revenue (CBR) has reduced duty drawback on the export of artificial leather (PVC binding material) from October 22, 2004. The CBR has replaced Schedule LXXXV of the standard SRO.415(I)/2001 of June 18, 2001 through a notification issu
Published 23 Oct, 2004 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 23 Oct, 2004 12:00am
Drawback on artificial leather reduced

Drawback on artificial leather reduced

The Central Board of Revenue (CBR) has reduced duty drawback on the export of artificial leather (PVC binding material) from October 22, 2004. The CBR has replaced Schedule LXXXV of the standard SRO.415(I)/2001 of June 18, 2001 through a notification issu
Published 23 Oct, 2004 12:00am
Drawback on artificial leather reduced

Drawback on artificial leather reduced

The Central Board of Revenue (CBR) has reduced duty drawback on the export of artificial leather (PVC binding material) from October 22, 2004. The CBR has replaced Schedule LXXXV of the standard SRO.415(I)/2001 of June 18, 2001 through a notification issu
Published 23 Oct, 2004 12:00am
Brazilian new soya crop down

Brazilian new soya crop down

Brazil's 2004/05 (October-September) soyabean output will reach 63.15 million tonnes, down from the 66.6 million tonnes forecast in July due to falling soya prices and high input costs, independent crop analysts Safras e Mercado said on Friday.
Published 23 Oct, 2004 12:00am
Dollar may breach Rs 65 level by year-end

Dollar may breach Rs 65 level by year-end

After receiving a clear-cut indication from the State Bank of Pakistan (SBP) that it would not stop the rupee from slide, the market players were anticipating that the dollar might breach the new barrier of Rs 65 by the end of the current year, money expe
Published 23 Oct, 2004 12:00am
Singapore bunker fuel prices up

Singapore bunker fuel prices up

Singapore bunker prices rose on Friday, tracking record high fuel oil cargo values, but finally slipped into discount against cargo values after hovering at parity since the beginning of the week.
Published 23 Oct, 2004 12:00am
Dollar may breach Rs 65 level by year-end

Dollar may breach Rs 65 level by year-end

After receiving a clear-cut indication from the State Bank of Pakistan (SBP) that it would not stop the rupee from slide, the market players were anticipating that the dollar might breach the new barrier of Rs 65 by the end of the current year, money expe
Published 23 Oct, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 109,778 tonnes of cargo including 96,528 tonnes import and 13,277 tonnes export cargo during last 24 hours ending at 0700 hours on Friday.
Published 23 Oct, 2004 12:00am
Commonwealth satisfied with restoration of democracy

Commonwealth satisfied with restoration of democracy

The visiting chief of the Commonwealth, Don McKinnon, says that the organisation is satisfied with the restoration of democracy in Pakistan and wants it to play its full active role. He said that whether President Musharraf should hold the presidency as w
Published 23 Oct, 2004 12:00am
US Midwest soyabean bids firm, corn mixed

US Midwest soyabean bids firm, corn mixed

Spot soyabean basis bids were steady to firm in the interior US Midwest early on Friday, underpinned by quiet farmer sales, while corn bids were mixed amid scattered movement, dealers said.
Published 23 Oct, 2004 12:00am
Commonwealth satisfied with restoration of democracy

Commonwealth satisfied with restoration of democracy

The visiting chief of the Commonwealth, Don McKinnon, says that the organisation is satisfied with the restoration of democracy in Pakistan and wants it to play its full active role. He said that whether President Musharraf should hold the presidency as w
Published 23 Oct, 2004 12:00am
110 Defence officers serving in DMG

110 Defence officers serving in DMG

Nearly 110 officers of Armed Forces are serving in District Management Group (DMG) under 10 percent quota fixed by the Ziaul Haq regime in 1980s for Pakistan Army, Pakistan Air Force (PAF) and Pakistan Navy.
Published 23 Oct, 2004 12:00am
CBOT wheat ends lower on disappointing exports

CBOT wheat ends lower on disappointing exports

Chicago Board of Trade wheat futures closed lower on Thursday as some late buying moderated but did not reverse losses made on disappointing weekly export sales and Egypt's preference for Argentine wheat in an overnight tender, traders said.
Published 23 Oct, 2004 12:00am
Russian weekly grain market report

Russian weekly grain market report

Russian food grain prices kept declining in the week to October 22, while feed barley and sunseed prices kept rising, traders said.
Published 23 Oct, 2004 12:00am
18 killed as US continues air raids in Iraq

18 killed as US continues air raids in Iraq

Seven people died and three others received injuries when US forces carried out air raids on the south-eastern districts of the rebel-held Iraqi city of Fallujah overnight, hospital officials said on Friday. The general hospital's Dr Saleh Hussein said mo
Published 23 Oct, 2004 12:00am
18 killed as US continues air raids in Iraq

18 killed as US continues air raids in Iraq

Seven people died and three others received injuries when US forces carried out air raids on the south-eastern districts of the rebel-held Iraqi city of Fallujah overnight, hospital officials said on Friday. The general hospital's Dr Saleh Hussein said mo
Published 23 Oct, 2004 12:00am
Danish grain prices remain steady

Danish grain prices remain steady

Danish grain prices remained steady this week as farmers continued to sit on their feed wheat stocks in the hope of rising prices, while traders predicted price falls to meet export market levels.
Published 23 Oct, 2004 12:00am
Donors only ready for case-by-case assistance for poor textile exporters

Donors only ready for case-by-case assistance for poor textile exporters

The World Bank and International Monetary Fund said on Friday that poor textile-exporting countries could only expect help on a case-by-case basis to cope with the forthcoming end of import quotas. World Bank president James Wolfensohn and IMF managing di
Published 23 Oct, 2004 12:00am
FOB Gulf corn soft, tight supplies lift soya

FOB Gulf corn soft, tight supplies lift soya

US Gulf corn basis offers were soft on Thursday, while soyabeans were higher as exporters scrambled for supplies to fill orders, traders said.
Published 23 Oct, 2004 12:00am
Donors only ready for case-by-case assistance for poor textile exporters

Donors only ready for case-by-case assistance for poor textile exporters

The World Bank and International Monetary Fund said on Friday that poor textile-exporting countries could only expect help on a case-by-case basis to cope with the forthcoming end of import quotas. World Bank president James Wolfensohn and IMF managing di
Published 23 Oct, 2004 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was slightly higher on the forward cottonseed oilcake market in slow business on Friday, dealers said.
Published 23 Oct, 2004 12:00am
IMF chief says downside risks from oil increasing

IMF chief says downside risks from oil increasing

Rising oil prices pose a growing risk to the world economy and will have a visible impact on global economic growth next year, the head of the International Monetary Fund (IMF) said on Friday. "The downside risks from oil have increased," IMF Managing Dir
Published 23 Oct, 2004 12:00am
Prices improve on cotton market

Prices improve on cotton market

Further improvement in prices was seen on the cotton market on Friday amid enhanced demand by the buyers, dealers said.
Published 23 Oct, 2004 12:00am
IMF chief says downside risks from oil increasing

IMF chief says downside risks from oil increasing

Rising oil prices pose a growing risk to the world economy and will have a visible impact on global economic growth next year, the head of the International Monetary Fund (IMF) said on Friday. "The downside risks from oil have increased," IMF Managing Dir
Published 23 Oct, 2004 12:00am
More rain heading for Brazilian coffee belt

More rain heading for Brazilian coffee belt

Brazil's coffee belt will receive more rain to aid tree flowering at the start of next week after a couple of mainly dry days, private meteorologist Somar predicted Friday.
Published 23 Oct, 2004 12:00am
Committee to resolve cane crushing row, Government, PSMA reach accord

Committee to resolve cane crushing row, Government, PSMA reach accord

The government and Pakistan Sugar Mills Association (PSMA) have agreed for the constitution of a committee to resolve "longstanding controversy" over commissioning of sugarcane crushing season. Federal Food, Agriculture and Livestock Minister Sikandar Hay
Published 23 Oct, 2004 12:00am
Grain market depicts few changes

Grain market depicts few changes

A few changes were witnessed on the grain market on Friday as most of the commodities maintained their overnight level in the process of trading, dealers said.
Published 23 Oct, 2004 12:00am
Committee to resolve cane crushing row, Government, PSMA reach accord

Committee to resolve cane crushing row, Government, PSMA reach accord

The government and Pakistan Sugar Mills Association (PSMA) have agreed for the constitution of a committee to resolve "longstanding controversy" over commissioning of sugarcane crushing season. Federal Food, Agriculture and Livestock Minister Sikandar Hay
Published 23 Oct, 2004 12:00am
Dry fruits up on Jodia Bazar

Dry fruits up on Jodia Bazar

The trading on dry fruits side moved upward on Jodia Bazar on Friday (October 22, 2004).
Published 23 Oct, 2004 12:00am
Industrial park for Karachi and Gwadar discussed

Industrial park for Karachi and Gwadar discussed

Prime Minister Shaukat Aziz on Friday presided over a meeting of Ministry of Industries and Production to discuss development of industrial parks in the country. The Prime Minister agreed to a proposal of the Industry Ministry for creating a new industria
Published 23 Oct, 2004 12:00am
New York coffee higher

New York coffee higher

US coffee futures edged up on Thursday as fund short-covering and roaster buying extended gains from the previous session, traders said.
Published 23 Oct, 2004 12:00am
Industrial park for Karachi and Gwadar discussed

Industrial park for Karachi and Gwadar discussed

Prime Minister Shaukat Aziz on Friday presided over a meeting of Ministry of Industries and Production to discuss development of industrial parks in the country. The Prime Minister agreed to a proposal of the Industry Ministry for creating a new industria
Published 23 Oct, 2004 12:00am
New York cocoa futures firmer

New York cocoa futures firmer

US benchmark cocoa futures firmed across the board in range-bound trading on Thursday, with modest support coming from foreign investors taking advantage of a weakening dollar, traders said.
Published 23 Oct, 2004 12:00am
Pak-Turkmen gas line spadework ready

Pak-Turkmen gas line spadework ready

The spadework on the $3.3 billion 1660 km Turkmenistan-Afghanistan-Pakistan gas pipeline is near finalisation for the coming steering committee meeting in November. The construction of the pipeline can materialise as big oil and gas companies of USA, EU,
Published 23 Oct, 2004 12:00am
Pak-Turkmen gas line spadework ready

Pak-Turkmen gas line spadework ready

The spadework on the $3.3 billion 1660 km Turkmenistan-Afghanistan-Pakistan gas pipeline is near finalisation for the coming steering committee meeting in November. The construction of the pipeline can materialise as big oil and gas companies of USA, EU,
Published 23 Oct, 2004 12:00am
Hershey profit up, to start selling cookies

Hershey profit up, to start selling cookies

Chocolate maker Hershey Foods Corp on Thursday posted a higher-than-expected 16 percent rise in quarterly profit and said it will get into the cookie business.
Published 23 Oct, 2004 12:00am
Hershey profit up, to start selling cookies

Hershey profit up, to start selling cookies

Chocolate maker Hershey Foods Corp on Thursday posted a higher-than-expected 16 percent rise in quarterly profit and said it will get into the cookie business.
Published 23 Oct, 2004 12:00am
Comex copper ends with strong gain on dollar drop

Comex copper ends with strong gain on dollar drop

Comex copper ended with healthy gains on Thursday, driven mostly by a strong dollar and underlying copper supportive fundamentals in a very light trading session, traders said.
Published 23 Oct, 2004 12:00am
Tokyo gold falters on strong yen, platinum mixed

Tokyo gold falters on strong yen, platinum mixed

Tokyo gold futures dropped on Friday as the firm yen prompted active selling to adjust positions ahead of the weekend, with slight falls in the dollar-based spot price also hurting, traders said.
Published 23 Oct, 2004 12:00am
Asian gold clings to New York levels, off 6-month high

Asian gold clings to New York levels, off 6-month high

Gold clung to New York levels in Asia on Friday after prices failed to test $430 an ounce, reflecting a slow down in jewellery purchases especially in India, the world's largest buyer.
Published 23 Oct, 2004 12:00am
Japan buys 47,000 tonnes of foreign rice

Japan buys 47,000 tonnes of foreign rice

Japan's Agriculture Ministry said on Friday it bought 47,000 tonnes of rice from the United States, Thailand and Vietnam at an ordinary import tender.
Published 23 Oct, 2004 12:00am
Oil bubbles near $55, China growth supports

Oil bubbles near $55, China growth supports

Oil prices simmered near $55 a barrel on Friday on rising fears of a winter fuel supply crunch and robust but slowing economic growth in China, the world's number two oil user.
Published 23 Oct, 2004 12:00am
China 2004/05 soyaoil imports down

China 2004/05 soyaoil imports down

Chinese 2004/2005 soyaoil imports are likely to slump to two million tonnes from 2.6 million the previous year, due to larger soya imports, a deputy director at a leading state grain think-tank said on Friday.
Published 23 Oct, 2004 12:00am
Thai rice futures higher in record volume

Thai rice futures higher in record volume

Speculative buying pushed Thai rice futures higher in record volume on Friday as demand strengthened ahead of the main harvest, brokers said.
Published 23 Oct, 2004 12:00am
Thai rubber futures mixed, volume rises

Thai rubber futures mixed, volume rises

Thai rubber futures ended mixed on Friday as most contracts ended lower on profit taking while deferred contracts rose due to speculative buying, brokers said.
Published 23 Oct, 2004 12:00am
New York sugar easier on specs, seen in range

New York sugar easier on specs, seen in range

Raw sugar futures closed marginally softer on Thursday on modest speculative sales in fairly quiet dealings, with the sweetener seen range-bound over the next few days, brokers said.
Published 23 Oct, 2004 12:00am
Soyabeans lower

Soyabeans lower

Chicago Board of Trade soyabean futures ended lower on Thursday on weak CIF Gulf soya bids, commercial selling and speculative sales after the November contract rose to a 1-1/2-week top, brokers said.
Published 23 Oct, 2004 12:00am
CBOT rice on speculative sales

CBOT rice on speculative sales

Rough rice futures at the Chicago Board of Trade closed lower on Thursday on commercial and speculative sales, traders said.
Published 23 Oct, 2004 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Tokyo rubber futures inched down on Friday for the seventh consecutive day on a firm yen, although it closed above the day's lows on some late short-covering ahead of the weekend.
Published 23 Oct, 2004 12:00am
Malaysian palm oil ends down

Malaysian palm oil ends down

Malaysian crude palm oil futures fell on Friday after losses in rival US soyoil and lingering weakness in a market surprised a day ago by forecaster Ivan Wong's high stock estimates for October.
Published 23 Oct, 2004 12:00am
Sony Ericsson to unveil new handsets

Sony Ericsson to unveil new handsets

Swedish-Japanese mobile phone maker Sony Ericsson will unveil several new handsets on Monday at around 0700 GMT, the company said on Friday.
Published 23 Oct, 2004 12:00am
Budget caps challenging: Trichet

Budget caps challenging: Trichet

European Union newcomers face huge challenges in bringing down their budget deficits as they prepare their economies for adopting the euro currency, European Central Bank President Jean-Claude Trichet said.
Published 23 Oct, 2004 12:00am
Google rekindles Internet fervour after results

Google rekindles Internet fervour after results

Shares of Google Inc jumped 13 percent to $167 on Friday after the Web search leader posted its first results as a public company, and one broker said the stock could hit $200, rekindling dot.com-era fervour.
Published 23 Oct, 2004 12:00am
Google rekindles Internet fervour after results

Google rekindles Internet fervour after results

Shares of Google Inc jumped 13 percent to $167 on Friday after the Web search leader posted its first results as a public company, and one broker said the stock could hit $200, rekindling dot.com-era fervour.
Published 23 Oct, 2004 12:00am
Google rekindles Internet fervour after results

Google rekindles Internet fervour after results

Shares of Google Inc jumped 13 percent to $167 on Friday after the Web search leader posted its first results as a public company, and one broker said the stock could hit $200, rekindling dot.com-era fervour.
Published 23 Oct, 2004 12:00am
Sri Lanka to ban two-stroke vehicle imports

Sri Lanka to ban two-stroke vehicle imports

Sri Lanka is planning to ban the import of two-stroke engine vehicles widely used here in a bid to reduce pollution, the transport secretary said Friday.
Published 23 Oct, 2004 12:00am
Schlumberger posts profit

Schlumberger posts profit

Schlumberger Ltd, the world's largest oilfield services company, on Friday posted a third-quarter profit, reversing a year-earlier loss, as energy companies increased spending, a trend not expected to fade while oil prices stay high.
Published 23 Oct, 2004 12:00am
Schlumberger posts profit

Schlumberger posts profit

Schlumberger Ltd, the world's largest oilfield services company, on Friday posted a third-quarter profit, reversing a year-earlier loss, as energy companies increased spending, a trend not expected to fade while oil prices stay high.
Published 23 Oct, 2004 12:00am
Hedge funds post strong returns

Hedge funds post strong returns

Improving stock markets and strong commodity price increases saw almost all hedge fund strategies post a positive return in September, research from French business school Edhec showed on Friday.
Published 23 Oct, 2004 12:00am
Hedge funds post strong returns

Hedge funds post strong returns

Improving stock markets and strong commodity price increases saw almost all hedge fund strategies post a positive return in September, research from French business school Edhec showed on Friday.
Published 23 Oct, 2004 12:00am
US Army to let Halliburton keep Iraq payment

US Army to let Halliburton keep Iraq payment

The US Army is laying the groundwork to let Halliburton Co keep several billion dollars paid for work in Iraq that Pentagon auditors say is questionable or unsupported by proper documentation, the Wall Street Journal reported on Friday.
Published 23 Oct, 2004 12:00am
IMF chief calls for more investment in oil production

IMF chief calls for more investment in oil production

International Monetary Fund (IMF) managing director Rodrigo Rato on Friday called on oil-producing nations to boost investment in production facilities in response to rising oil prices, which he said would have clear impact on growth.
Published 23 Oct, 2004 12:00am
Microsoft's first quarter profit, revenue rise

Microsoft's first quarter profit, revenue rise

Microsoft Corp late Thursday said its quarterly profit climbed as revenue rose 12 percent, driven by demand for the company's core software products from businesses and higher sales of personal computers and servers.
Published 23 Oct, 2004 12:00am
Microsoft's first quarter profit, revenue rise

Microsoft's first quarter profit, revenue rise

Microsoft Corp late Thursday said its quarterly profit climbed as revenue rose 12 percent, driven by demand for the company's core software products from businesses and higher sales of personal computers and servers.
Published 23 Oct, 2004 12:00am
Gazprom and Repsol may join forces in US LNG business

Gazprom and Repsol may join forces in US LNG business

Russian gas monopoly Gazprom and Spanish energy group Repsol YPF may join forces to ship super-cooled liquefied natural gas (LNG) to North American markets, Gazprom said on Friday.
Published 23 Oct, 2004 12:00am