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Print - 2004-11-30
Chile to compensate victims of torture

Chile to compensate victims of torture

Chilean President Ricardo Lagos has said his government will pay compensation to about 35,000 victims of torture during the dictatorship of general Augusto Pinochet, who seized power in a coup in 1973. The payments will reach 112,000 pesos, or about 215 U
Published 30 Nov, 2004 12:00am
'Mineral sector can attract over Rs 2 billion investment'

'Mineral sector can attract over Rs 2 billion investment'

The working committee set up, under the Small and Medium Enterprise Development Authority (Smeda), to compile recommendations for development strategies of gem, jewellery, marble and granite, sectors submitted its final reports to Federal Industries, Prod
Published 30 Nov, 2004 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (November 29, 2004).

Published 30 Nov, 2004 12:00am
Tender to buy 40,000 tonnes wheat issued

Tender to buy 40,000 tonnes wheat issued

The Trading Corporation of Pakistan (TCP) has said on Monday it has issued a tender to buy 40,000 tonnes of Russian and Central Asian origin milling wheat. "The tender has been issued because the country is satisfied with the quality of (Russian) wheat al
Published 30 Nov, 2004 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (November 29, 2004).

Published 30 Nov, 2004 12:00am
US embargo: exporters advised to obtain pre-shipment certificate

US embargo: exporters advised to obtain pre-shipment certificate

The Export Promotion Bureau (EPB) has advised the exporters, dealing in category 38 for the US, to obtain pre-shipment certificate to avoid problems in case of an embargo by the US Customs. The certificate, which can be obtained after payment of four perc
Published 30 Nov, 2004 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (November 29, 2004).

Published 30 Nov, 2004 12:00am
MoC decision to compensate exporters hailed

MoC decision to compensate exporters hailed

Pakistan Cloth Merchants Association (PCMA) has welcomed the announcement made by the Ministry of Commerce that it will facilitate or provide compensation to the exporters in such categories, which may fall under the US government embargo. PCMA central Ch
Published 30 Nov, 2004 12:00am
Abolition of duty on packaging material demanded

Abolition of duty on packaging material demanded

The Union of Small and Medium Enterprises (Unisame) demanded abolition of import duty on packaging material. The Unisame requested the finance ministry to abolish import duty on packaging material to make it competitive, so that finishing quality of expor
Published 30 Nov, 2004 12:00am
NLC to install cargo scanner at Port Qasim

NLC to install cargo scanner at Port Qasim

The National Logistic Cell will inaugurate its first scanner for export cargo on Port Qasim in the first week of January 2005. Brigadier Ghulam Akbar Khan Niazi, director Dry Port NLC, on Monday told Business Recorder that this installation at PQA
Published 30 Nov, 2004 12:00am
ICP earns Rs 388 million profit

ICP earns Rs 388 million profit

The Investment Corporation of Pakistan (ICP) has earned an income of Rs 388 million during the fiscal 2003-04 after capitalising on bullish market conditions, capital gains of Rs 258 million were booked. This was stated by ICP Managing Director Abdul Lati
Published 30 Nov, 2004 12:00am
ICP earns Rs 388 million profit

ICP earns Rs 388 million profit

The Investment Corporation of Pakistan (ICP) has earned an income of Rs 388 million during the fiscal 2003-04 after capitalising on bullish market conditions, capital gains of Rs 258 million were booked. This was stated by ICP Managing Director Abdul Lati
Published 30 Nov, 2004 12:00am
NLC trucks start transporting Afghan goods to Peshawar

NLC trucks start transporting Afghan goods to Peshawar

Goods destined to Afghanistan, which arrived at Karachi Port under the Afghan Transit Trade Agreement about a few months ago, and were lying at the port for want of railway wagons on Monday started journeying to Afghanistan by the National Logistic Cell t
Published 30 Nov, 2004 12:00am
SAIF-Zone offers incentives to Pakistani investors

SAIF-Zone offers incentives to Pakistani investors

Sharjah Airport International Free Zone (SAIF-Zone) has offered special incentives to Pakistani investors and businessmen at a seminar on 'Investment Opportunities in SAIF-Zone, Sharjah' held here on Monday. Speaking on the occasion, Senior Vice-President
Published 30 Nov, 2004 12:00am
KWPC meeting today

KWPC meeting today

The Karachi Women's Peace Committee (KWPC) is holding a discussion on Tuesday with the non-government organisations (NGOs) working in the women development programmes and activists for human rights (HRs) to review the impact of the new honour killing Bill
Published 30 Nov, 2004 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (November 29) and rates for Tuesday (November 30, 2004).
Published 30 Nov, 2004 12:00am
Government urged to probe ATT effect on industry

Government urged to probe ATT effect on industry

Zia-ul-Haq Sarhadi, chairman, Frontier Customs Agents Group and member, Executive Committee of the Sarhad Chamber of Commerce and Industry, has demanded of the government to hold an impartial inquiry into effect of Afghan Transit Trade (ATT) on industrial
Published 30 Nov, 2004 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (November 29, 2004).

Published 30 Nov, 2004 12:00am
Sundar Estate to improve Punjab's economy

Sundar Estate to improve Punjab's economy

Provincial Minister for Industries, Commerce and Investment Muhammad Ajmal Cheema has said that Sunder Industrial Estate is the practical implementation of Punjab Chief Minister's Vision 2020 and would help accelerate the pace of industrial development in
Published 30 Nov, 2004 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (November 29, 2004).

Published 30 Nov, 2004 12:00am
Sindh Cabinet to be expanded: Arbab

Sindh Cabinet to be expanded: Arbab

Sindh Chief Minister Dr Arbab Ghulam Rahim on Monday said more ministers and advisors would be inducted in provincial cabinet. He was talking to reporters at his native district in village Khetlari. Responding to a question, he said government has no form
Published 30 Nov, 2004 12:00am
Key stock market movements at 1800 GMT on November 29

Key stock market movements at 1800 GMT on November 29

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
Published 30 Nov, 2004 12:00am
Model industrial estates planned in Punjab

Model industrial estates planned in Punjab

Under a network programme, the Punjab Small Industries Corporation (PSIC) would develop small model industrial estates at each district headquarter of the province. Official sources told Business Recorder here on Monday that these estates would be
Published 30 Nov, 2004 12:00am
PPP to launch anti-government movement shortly: Naheed

PPP to launch anti-government movement shortly: Naheed

PPP Chairperson Benazir Bhutto had raised voice against terrorism while military rulers organised the Taleban and gave them rein of Afghanistan, but now President General Pervez Musharraf was trying to get the credit of crusade against terrorism, said MNA
Published 30 Nov, 2004 12:00am
Companies given 30 days to install licensed software

Companies given 30 days to install licensed software

Business Software Alliance (BSA) has announced a 30-day truce in its fight against pirated software users in Pakistan, during which companies and organisations across the country can install licensed software without the risk of police raids, legal action
Published 30 Nov, 2004 12:00am
The Weather

The Weather

The weather report on Monday (November 29) and the forecast for Tuesday (November 30, 2004).
Published 30 Nov, 2004 12:00am
1,383 more Pakistanis released from Omani jails arrive today

1,383 more Pakistanis released from Omani jails arrive today

The human and civil rights organisation, the Ansar Burney Welfare Trust International has announced on Monday that the group of another 1,383 illegal Pak immigrants, released from the jails of Oman, will arrive home on November 30 in two different boats.
Published 30 Nov, 2004 12:00am
Afghan DPs census in Sindh to begin from third week of January

Afghan DPs census in Sindh to begin from third week of January

A high-level meeting presided over by Chief Secretary Sindh Muhammad Aslam Sanjrani on Monday discussed possibility of extending co-operation to Population Census Organisation (PCO) for registration and conducting census of Afghan refugees settled in the
Published 30 Nov, 2004 12:00am
No compromise on Kashmir: Shaukat

No compromise on Kashmir: Shaukat

Prime Minister, Shaukat Aziz on Monday categorically brushed aside any compromise on Kashmir. "Future of Kashmir will incorporate wish of the people of Kashmir", he said during his meeting with Azad Jammu & Kashmir (AJK) President, Sardar Mohammad Anwar K
Published 30 Nov, 2004 12:00am
Referendum on Kalabagh dam suggested

Referendum on Kalabagh dam suggested

Majority of People of Pakistan is in favour of construction of Kalabagh dam and other water reservoirs to meet the challenges of the future and it can be judged through referendum, said Federal Parliamentary Affairs Minister Dr Sher Afgan Niazi while deli
Published 30 Nov, 2004 12:00am
Simply incredible

Simply incredible

What happened in the Senate last Friday, when the Public Service Commission (Amendment) Bill was presented before it for approval, readily evokes the word 'incredible'. As it happened, the House was short of quorum at the time the bill came up for discuss
Published 30 Nov, 2004 12:00am
Making educational dreams come true

Making educational dreams come true

Coming in the midst of increasing evidence of the government laying due emphasis on methodical and purposeful development of the too long neglected education sector, utterly frustrating to many will, indeed, sound a small report from Lahore, which appeare
Published 30 Nov, 2004 12:00am
Task force for improving taxation structure

Task force for improving taxation structure

The Central Board of Revenue (CBR) has made a Task Force on improving taxation structure. The prime goal seems to broaden the tax base apart from increased revenue collection, educated taxpayer, improved tax-GDP ratio, improved tax system and decreased si
Published 30 Nov, 2004 12:00am
Ukraine in history: a proud past, a divided present

Ukraine in history: a proud past, a divided present

Ukraine, lying at the heart of eastern Europe, has always been a crossroads of history and the current conflict illustrates the yawning gap between the pro-Moscow, Russian-speaking Orthodox east and the pro-European, Ukrainian-speaking Catholic west. Pass
Published 30 Nov, 2004 12:00am
Foreign investment

Foreign investment

Our government is trying very hard to attract foreign investments since long, but all efforts are meeting very little success. Some basic requirements to attract foreign investors are as follows:
Published 30 Nov, 2004 12:00am
Clarification by POL

Clarification by POL

This is with reference to the letter titled "SECP and POL should respond" by M.S. Hassan published in the Business Recorder dated October 15, 2004.
Published 30 Nov, 2004 12:00am
20 and 5000 rupee notes

20 and 5000 rupee notes

It is learnt that the State Bank of Pakistan (SBP) has been allowed to issue new bank-notes of Rs 20 and Rs 5000 denominations and to re-design the currency notes of Rs 50 and Rs 1000.
Published 30 Nov, 2004 12:00am
43 Indian fishermen arrested

43 Indian fishermen arrested

A ship of Maritime Security Agency (MSA) has arrested eight Indian fishing boats with its 43 crew onboard for fishing illegally in Pakistani territorial waters. According to the MSA on Monday, the ship VEHDAT was on a routine petrol on November 27th in th
Published 30 Nov, 2004 12:00am
Foreign consultants being hired to restructure PTDC

Foreign consultants being hired to restructure PTDC

Foreign consultants are being hired to restructure Pakistan Tourism Development Corporation (PTDC), PTDC Managing Director (MD) Malik Habib Khan said. "Certainly we are going to develop infrastructure in a better way. New tourism policy will be conceived
Published 30 Nov, 2004 12:00am
Australian judge visits Lahore High Court

Australian judge visits Lahore High Court

The Australian Federal Court Sydney Judge Justice Cathy Branson on Monday visited the Lahore High Court (LHC) and met the Chief Justice and judges here. The meeting discussed matters of mutual interest and Justice Cathy Branson spoke on the 'Australian ex
Published 30 Nov, 2004 12:00am
'Government keen to develop policies for auto industry'

'Government keen to develop policies for auto industry'

Central Board of Revenue Member Customs Ramzan Bhatti said here on Monday hat the government was keen to work in close partnership with auto industry to develop policies and regulations to help growth in this sector even further. "The auto industry is one
Published 30 Nov, 2004 12:00am
Official assignee to inspect dangerous buildings

Official assignee to inspect dangerous buildings

A division bench of High Court of Sindh (SHC) comprising Justice Sarmad Jalal Osmany and Justice Maqbool Baqer on Monday appointed Official Assignee as Commissioner to inspect building which were declared dangerous by Karachi Building Control Authority (K
Published 30 Nov, 2004 12:00am
Bid bond condition CDGK moves reference to BoI for seeking advice

Bid bond condition CDGK moves reference to BoI for seeking advice

Following the directives of City Nazim Naimatullah Khan, the City District Government Karachi (CDGK) has moved a reference to seek advice of Board of Investment (BoI) on condition of submitting bid bond on its investment projects. Officials told PPI on Mo
Published 30 Nov, 2004 12:00am
Polish envoy meets Soomro

Polish envoy meets Soomro

The Ambassador of Poland Bogdan Marczewski called on the Acting President Muhammadmian Soomro here on Monday and discussed matters pertaining to the promotion of bilateral ties in various sectors, particularly in the field of trade. During the meeting, Mu
Published 30 Nov, 2004 12:00am
Hearing in Baitul Hamza demolition case adjourned

Hearing in Baitul Hamza demolition case adjourned

While entertaining the request of Zahida Naqvi of Karachi Building Control Authority (KBCA), Justice Khliji Arif Hussain of Sindh High Court (SHC) on Monday adjourned the hearing in lawsuit of Mohajir Quami Movement (MQM) in respect of the property known
Published 30 Nov, 2004 12:00am
Elections to be held in 2007: Tariq

Elections to be held in 2007: Tariq

Secretary Pakistan Muslim League, Senator Tariq Azeem has said that next general elections in the country would be held in 2007 and the cabinet had never debated holding of premature elections. In a statement here on Monday, the Senator dispelled the impr
Published 30 Nov, 2004 12:00am
Zardari to visit interior Sindh from December 3

Zardari to visit interior Sindh from December 3

Peoples Party leader and husband of former Prime Minister Ms Benazir Bhutto, Asif Ali Zardari will visit interior of Sindh from December 3, 2004 for the first time after his release from eight years jail. He will first visit Dargah Shahbaz Qalandar on Fri
Published 30 Nov, 2004 12:00am
Supreme Court warns PIAC officials

Supreme Court warns PIAC officials

Senior Judge of the Supreme Court of Pakistan, Justice Iftikhar Mohammad Chaudhry on Monday warned two officials of Pakistan International Airlines Corporation (PIAC) for commenting on the judgement of the apex court and said accused of contempt of court
Published 30 Nov, 2004 12:00am
London sugar ends down

London sugar ends down

London white sugar futures closed lower on producer and speculative sales against trade buying in thin volumes on Monday, traders said. March settled down 40 cents at $255.5 a tonne in volume of 1,579 lots, after trading in a $256.5-254.2 range.
Published 30 Nov, 2004 12:00am
London cocoa ends up

London cocoa ends up

London's cocoa market closed marginally higher on Monday, recouping earlier losses as trade buying soaked up liquidation by funds, traders said. Liffe's benchmark March futures contract added five pounds to end at the session high of 887 pounds a tonne af
Published 30 Nov, 2004 12:00am
Oil up on winter worries, Norway outage

Oil up on winter worries, Norway outage

Oil prices rose Monday as a gas leak closed a large Norwegian North Sea oil field and the threat of a colder-than-normal US winter fuelled worries about low heating oil stocks. North Sea Brent blend jumped $1.18 a barrel to $45.75 and US crude was up 32 c
Published 30 Nov, 2004 12:00am
London gold off peaks, steadies on US open

London gold off peaks, steadies on US open

Gold slipped from last week's 16-year highs on Monday in Europe, reflecting US investor profit-taking after the New York futures market re-opened following Thanksgiving holidays, traders said. Although traders were prepared for a possible drop below $450
Published 30 Nov, 2004 12:00am
New York cotton closes near highs on spec buying

New York cotton closes near highs on spec buying

Cotton futures finished higher on Monday on modest speculative buying after the long holiday break, with follow-through interest seen buoying values in the days ahead, brokers said. The cotton market was shut last Thursday and Friday for US Thanksgiving.
Published 30 Nov, 2004 12:00am
LME copper closes higher on supply tightness

LME copper closes higher on supply tightness

London Metal Exchange (LME) copper was higher by the end of kerb trade on Monday as tightening supply encouraged steady support, traders and analysts said. LME copper stocks fell 150 tonnes over the weekend to 59,300 tonnes, of which 41,975 were on warran
Published 30 Nov, 2004 12:00am
FTSE-100 closes a shade up; banks, Anglo and BAE rise

FTSE-100 closes a shade up; banks, Anglo and BAE rise

Banking shares led Britain's FTSE 100 index higher on Monday, while top European defence group BAE Systems gained on investor hopes it will hit a year-end target for sealing a second tranche of Eurofighter planes worth some 13 billion euros. Shares in min
Published 30 Nov, 2004 12:00am
Bonds: auto makers pare gains ahead of data

Bonds: auto makers pare gains ahead of data

European corporate bonds ended a subdued Monday little changed after paring early gains amid nervousness ahead of key auto and US jobs reports due later this week. Bonds of major auto makers rose in line with equities and after advances in US corporate ma
Published 30 Nov, 2004 12:00am
Bonds: auto makers pare gains ahead of data

Bonds: auto makers pare gains ahead of data

European corporate bonds ended a subdued Monday little changed after paring early gains amid nervousness ahead of key auto and US jobs reports due later this week. Bonds of major auto makers rose in line with equities and after advances in US corporate ma
Published 30 Nov, 2004 12:00am
Monday's unofficial close: US blue chips edge down

Monday's unofficial close: US blue chips edge down

Blue-chip stocks fell slightly on Monday after No 1 retailer Wal-Mart Stores Inc reported lower-than-expected Thanksgiving sales, while technology shares were lifted by a rally in Apple Computer Inc. Shares of Apple jumped more than 6 percent after broker
Published 30 Nov, 2004 12:00am
Dollar rests after sharp losses, still weak

Dollar rests after sharp losses, still weak

The dollar held above last week's record low against the euro and 4-1/2 year lows against the yen on Monday, winning some respite after 10 consecutive weeks of losses. Signs that China is in no rush to let its pegged currency appreciate against the dollar
Published 30 Nov, 2004 12:00am
Sterling steady against euro and dollar

Sterling steady against euro and dollar

Sterling pulled away from a recent 11-month low versus the euro and held below last week's 9-month high against the recovering dollar on Monday after a mixed batch of data from the UK consumer. Official numbers showed British consumer credit growth for Oc
Published 30 Nov, 2004 12:00am
Goa film festival kicks off

Goa film festival kicks off

Leading Bollywood celebrities descended on the capital city of India's beach state of Goa on Monday evening as the International Film Festival of India (IFFI) kicked off amid tight security. Organisers are billing the festival in palm-fringed Goa, India's
Published 30 Nov, 2004 12:00am
French finance minister resigns

French finance minister resigns

Nicolas Sarkozy, an ambitious politician aiming to replace Jacques Chirac as French president, resigned as finance minister Monday to concentrate on his new job leading Chirac's conservative ruling party. Officials said Sarkozy submitted his resignation t
Published 30 Nov, 2004 12:00am
IAEA adopts resolution as Iran urged to keep nuclear pledge

IAEA adopts resolution as Iran urged to keep nuclear pledge

The UN atomic agency adopted Monday a toned-down resolution on Iran's nuclear programme after Tehran agreed to a total freeze on all enrichment activities, as world leaders warned they would be keeping a close eye on the Islamic Republic. The resolution,
Published 30 Nov, 2004 12:00am
Northern Ireland peace talks at 'very intensive stage': Blair

Northern Ireland peace talks at 'very intensive stage': Blair

Negotiations aimed at adding fresh impetus to Northern Ireland's stalled peace process are at a "very intensive stage", British Prime Minister Tony Blair said on Monday following new talks. "We are obviously in a very intensive stage now," Blair said afte
Published 30 Nov, 2004 12:00am
Curfew, troops in Sri Lanka region amid fresh violence

Curfew, troops in Sri Lanka region amid fresh violence

Additional troops were deployed in this curfew-bound Sri Lankan town Monday after a passenger was killed in a grenade attack on a bus that defied a rebel strike, the defence ministry said. Hundreds of heavily armed soldiers from a nearby military base wer
Published 30 Nov, 2004 12:00am
Myanmar extends Suu Kyi house arrest: opposition

Myanmar extends Suu Kyi house arrest: opposition

Myanmar police have told democracy icon Aung San Suu Kyi her house arrest has been extended under a law which allows for such detention for up to a year, an opposition spokesman said on Monday. U Lwin, spokesman for Suu Kyi's National League for Democracy
Published 30 Nov, 2004 12:00am
Bhopal disaster a huge violation of human rights: Amnesty

Bhopal disaster a huge violation of human rights: Amnesty

Tens of thousands of Indian people still suffer appalling effects from the Bhopal gas leak 20 years ago and over 20,000 have died from the disaster, Amnesty International said Monday, labelling the victims' long wait for justice a major breach of human ri
Published 30 Nov, 2004 12:00am
Chemical weapons-free world still a long way off: watchdog

Chemical weapons-free world still a long way off: watchdog

The destruction of chemical weapons is making progress, but much more needs to be done to wipe out this arsenal as less than 14.3 percent of known stocks have been eliminated, a watchdog said Monday. Six countries - Albania, India, Libya, Russia, South Ko
Published 30 Nov, 2004 12:00am
Ukraine's president proposes new elections

Ukraine's president proposes new elections

Outgoing Ukrainian President Leonid Kuchma, facing mass protests over a disputed presidential election, on Monday called for a new poll to help end the crisis tearing the nation apart. "If we really want to preserve peace and consensus and build this just
Published 30 Nov, 2004 12:00am
India to upgrade nuclear deterrence and special forces

India to upgrade nuclear deterrence and special forces

India will continually upgrade its nuclear weapons capability despite a no first-use policy and expand special forces to wage high-tech war, Defence Minister Pranab Mukherjee said Monday. "Although India is committed to a no-first-use of nuclear weapons,
Published 30 Nov, 2004 12:00am
Sharon coalition partner threatens to quit

Sharon coalition partner threatens to quit

Prime Minister Ariel Sharon's biggest coalition ally threatened on Monday to quit, deepening a political crisis over Israel's 2005 state budget which must be passed to keep his Gaza withdrawal plan on track for next year. The secular Shinui party, which w
Published 30 Nov, 2004 12:00am
China revising death penalty laws

China revising death penalty laws

China is in the final stages of revising its law on the death penalty, which will rescind the right of lower courts to have the last say on executions, state media reported on Monday. The move is expected to reduce the number of executions and prevent mis
Published 30 Nov, 2004 12:00am
Julia Roberts gives birth to twins

Julia Roberts gives birth to twins

Oscar-winning actress Julia Roberts has given birth to twins, a boy and a girl, at a hospital here, People magazine reported Sunday. Roberts, 37, gave birth around 3:00 am (1100 GMT) Sunday, and she and the babies were doing well, the magazine reported on
Published 30 Nov, 2004 12:00am
Sri Lankan rupee firmer

Sri Lankan rupee firmer

The Sri Lanka rupee closed firmer on Monday, as exporters cashed in dollar earnings and importer demand for the US currency eased, dealers said. The rupee closed at 104.88 against the dollar, compared to Thursday's close at 104.97 rupees. The market was s
Published 30 Nov, 2004 12:00am
Australian dollar drops

Australian dollar drops

The Australian dollar dropped nearly half a US cent as the current account unexpectedly ballooned to a record deficit, prompting economists to revise down their growth forecasts. While the Aussie subsequently steadied from a post-data 78.34 cents trough,
Published 30 Nov, 2004 12:00am
Hong Kong dollar edges lower

Hong Kong dollar edges lower

The Hong Kong dollar edged lower on Monday as players covered short (US dollar) positions after Chinese officials ruled out a near-term revaluation of the yuan, but the downside was limited by support for an ongoing round of Hong Kong IPOs. The local curr
Published 30 Nov, 2004 12:00am
Swiss franc eases

Swiss franc eases

The Swiss franc eased slightly from nine-year highs against the dollar on Monday, and was stable against the euro, after the Swiss central bank expressed concern over the franc's strength. Swiss National Bank (SNB) Chairman Jean-Pierre Roth said speculati
Published 30 Nov, 2004 12:00am
Asian currencies weaker on intervention fears

Asian currencies weaker on intervention fears

Asian currencies weakened on Monday, led by the Taiwan dollar, on concerns the region's central banks may come together and buy dollars to stall a two-month rally which has driven some currencies to multi-year highs. The Taiwan dollar weakened 0.2 percent
Published 30 Nov, 2004 12:00am
Dollar stuck near lows, central banks eyed

Dollar stuck near lows, central banks eyed

The dollar stayed in sight of a record low against the euro and a 4-1/2-year low versus the yen on Monday as the US currency remained vulnerable to worries about major central banks trimming dollar assets. But profit-taking on short positions gave a small
Published 30 Nov, 2004 12:00am
Chinese gripe on dollar seen unlikely to stir G7

Chinese gripe on dollar seen unlikely to stir G7

Chinese Premier Wen Jiabao's complaint that too little has been done to halt the dollar's slide and this is preventing Beijing from easing its grip on the yuan could end up being just that - a complaint. The Group of Seven (G7) economic powers are unlikel
Published 30 Nov, 2004 12:00am
Indian rupee at near seven-month closing peak

Indian rupee at near seven-month closing peak

The Indian rupee appreciated strongly on Monday to post a near-seven-month closing peak, helped by robust foreign capital and trade inflows and the absence of sustained central bank intervention, dealers said. The rupee closed at 44.8350/8450 per dollar,
Published 30 Nov, 2004 12:00am
Bangladeshi taka eases on import payments

Bangladeshi taka eases on import payments

The Bangladeshi taka ended slightly weaker on Monday on import payments, dealers said. The taka was quoted at 59.58/60.20 per US dollar, against 59.58/60.10 on Sunday, a working day in Bangladesh. Call rates ranged unchanged between 2.0 percent and 7.0 pe
Published 30 Nov, 2004 12:00am
Fire breaks out at ex-KGB headquarters

Fire breaks out at ex-KGB headquarters

A small fire broke out Monday at the headquarters of the FSB (ex-KGB) headquarters in central Moscow, news agencies reported citing fire officials. The fire at the FSB head office on Lubyanka Square was reported shortly after 4:00 pm (1300 GMT) and engulf
Published 30 Nov, 2004 12:00am
Shell seeks permanent Indonesia oil retail licence

Shell seeks permanent Indonesia oil retail licence

Royal Dutch/Shell Group has asked the Indonesian government for a permanent licence to retail oil products as it prepares to start selling by the end of 2005, a company official said on Monday. Jakarta gave Shell a temporary 12-month licence in February t
Published 30 Nov, 2004 12:00am
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