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Print - 2004-12-26
Long-term rates pivotal for world economy next year

Long-term rates pivotal for world economy next year

Cheap long-term borrowing provided the glue that held the world economy together this year, but the risk of its sudden disappearance could see an otherwise upbeat outlook for 2005 come unstuck. Among the myriad influences on the global economy, it is hard
Published 26 Dec, 2004 12:00am
Jakarta to amend oil and gas law after ruling

Jakarta to amend oil and gas law after ruling

Indonesia will amend the three parts of its oil and gas law that were struck down by the constitutional court this week, Mines and Energy Minister Purnomo Yusgiantoro said. Indonesia ratified the law in 2001 to end state company PT Pertamina's monopoly in
Published 26 Dec, 2004 12:00am
Tough year ahead for European firms with foreign exchange risk

Tough year ahead for European firms with foreign exchange risk

European manufacturers could face tough choices next year in picking protection for their revenues from a persistently weak dollar, as new accounting standards come into force in January and earnings outlooks stay uncertain. Faced with increasingly expens
Published 26 Dec, 2004 12:00am
Russia hits Volgotanker with $23 million back tax

Russia hits Volgotanker with $23 million back tax

Russia's biggest shipping company, Volgotanker, has received a $23 million back tax claim for 2001, Kommersant business daily reported on Saturday. The paper quoted Volgotanker Chairman Alexander Alexandrovich as saying a Samara regional tax department ha
Published 26 Dec, 2004 12:00am
UK gilts seen outperforming in 2005

UK gilts seen outperforming in 2005

It probably won't be another bull year in 2005 for gilts, but analysts reckon British government bonds will keep their shine despite uncertainties surrounding the interest rate and supply outlook. The UK economic backdrop and strong underlying demand from
Published 26 Dec, 2004 12:00am
UK gilts seen outperforming in 2005

UK gilts seen outperforming in 2005

It probably won't be another bull year in 2005 for gilts, but analysts reckon British government bonds will keep their shine despite uncertainties surrounding the interest rate and supply outlook. The UK economic backdrop and strong underlying demand from
Published 26 Dec, 2004 12:00am
Oil prices slide, metals gain as dollar sinks in international markets

Oil prices slide, metals gain as dollar sinks in international markets

World oil prices tumbled this week after a surprise rise in US crude stockpiles eased worries about low supplies amid cold snaps in key markets. Metals benefited as the dollar plummeted to fresh record lows against the euro, while coffee futures hit the h
Published 26 Dec, 2004 12:00am
Thai rubber futures end mixed

Thai rubber futures end mixed

Thai rubber futures ended mixed on Friday as players adjusted positions ahead of the year-end holidays, brokers said. Overall volume rose as 131 contracts of ribbed smoked sheet number three (RSS 3) were traded compared to Thursday's 71. "Volume rose due
Published 26 Dec, 2004 12:00am
Top China copper smelters to increase production

Top China copper smelters to increase production

Major smelters in China are likely to produce 11 percent more refined copper cathodes in 2005 than this year to take advantage of higher processing fees, which have risen about six-fold in the past 12 months. Smelters' rosy forecasts of international copp
Published 26 Dec, 2004 12:00am
Malaysia cuts import tariffs on Asean automobiles

Malaysia cuts import tariffs on Asean automobiles

Malaysia will cut the import duty on automobiles from ASEAN countries to 20 percent from January 1, the finance ministry said on Friday, in order to meet the country's commitments under regional trade rules. Malaysia will also hike the excise duty on cars
Published 26 Dec, 2004 12:00am
Shanghai copper up on short-covering

Shanghai copper up on short-covering

Shanghai copper futures edged up on Friday as investors covered their short positions late in the session, spurred on by a bounce in the metal on the London Metal Exchange's Asia trade, traders said. The most-active March contract closed at its intrude hi
Published 26 Dec, 2004 12:00am
100-year-old Mexican leads coffee growers to success

100-year-old Mexican leads coffee growers to success

In 1904, the ice cream cone made its debut, Russia and Japan were at war and Manuel Sedas was born into a lifelong struggle to extricate himself and fellow Mexican peasants from poverty. The son of poor coffee pickers, 100-year-old Sedas is something of a
Published 26 Dec, 2004 12:00am
Tokyo gold slips on yen, platinum tracks New York

Tokyo gold slips on yen, platinum tracks New York

Tokyo gold futures fell on Friday due to the firm yen although bullion's strength provided some support, while platinum also dipped tracking moves in New York. Gold investors at the Tokyo Commodity Exchange (TOCOM) were also factoring in currency movement
Published 26 Dec, 2004 12:00am
February Murban may be distressed on weather

February Murban may be distressed on weather

Cargoes of Abu Dhabi's middle distillate-rich Murban grade of crude oil for February lifting could be distressed as Japanese refiners cut crude runs due to ample stocks and mild weather, traders said on Friday. They said February-lifting Murban might have
Published 26 Dec, 2004 12:00am
China to impose tax on aluminium exports

China to impose tax on aluminium exports

China will impose an export tax of 5 percent on aluminium and 2 percent for nickel from January 1, 2005, an official from the State Council, the country's cabinet, told Reuters on Friday. The government will impose a tax of 10 percent on exports of bliste
Published 26 Dec, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 25, 2004).

Published 26 Dec, 2004 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 25, 2004).

Published 26 Dec, 2004 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on December 18, 2004.

Published 26 Dec, 2004 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on December 18, 2004.

Published 26 Dec, 2004 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (December 25, 2004).

Published 26 Dec, 2004 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday December 27, 2004.

Published 26 Dec, 2004 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday December 27, 2004.

Published 26 Dec, 2004 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday December 27, 2004.

Published 26 Dec, 2004 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week (December 20 to 24, 2004).

Published 26 Dec, 2004 12:00am
The Weather

The Weather

The weather report on Saturday (December 25) and the forecast for Sunday (December 26, 2004).
Published 26 Dec, 2004 12:00am
25 killed, 54 injured in two road accidents

25 killed, 54 injured in two road accidents

At least 25 people have died and 54 injured in two separate road accidents on Saturday in Punjab due to speeding and dense fog, police said. In the first accident in Jehulam, 18 persons were killed and 38 sustained injuries when a bus overturned at G. T.
Published 26 Dec, 2004 12:00am
25 killed, 54 injured in two road accidents

25 killed, 54 injured in two road accidents

At least 25 people have died and 54 injured in two separate road accidents on Saturday in Punjab due to speeding and dense fog, police said. In the first accident in Jehulam, 18 persons were killed and 38 sustained injuries when a bus overturned at G. T.
Published 26 Dec, 2004 12:00am
Reforms give CBR more autonomy

Reforms give CBR more autonomy

The tax reforms will give more autonomy to the Central Board of Revenue (CBR) enhancing its legal powers to counter undue outside influence. Sources told Business Recorder here on Saturday that as per strategy approved by the government, the reform
Published 26 Dec, 2004 12:00am
Reforms give CBR more autonomy

Reforms give CBR more autonomy

The tax reforms will give more autonomy to the Central Board of Revenue (CBR) enhancing its legal powers to counter undue outside influence. Sources told Business Recorder here on Saturday that as per strategy approved by the government, the reform
Published 26 Dec, 2004 12:00am
Provinces directed to curb use of LPG in commercial vehicles

Provinces directed to curb use of LPG in commercial vehicles

The federal government has directed the provinces that they should take strict measures to ensure that liquefied petroleum gas (LPG) was not used in commercial vehicles in any part of the country. The step has been taken to improve LPG supply situation in
Published 26 Dec, 2004 12:00am
Provinces directed to curb use of LPG in commercial vehicles

Provinces directed to curb use of LPG in commercial vehicles

The federal government has directed the provinces that they should take strict measures to ensure that liquefied petroleum gas (LPG) was not used in commercial vehicles in any part of the country. The step has been taken to improve LPG supply situation in
Published 26 Dec, 2004 12:00am
Ahmed Bashir passes away

Ahmed Bashir passes away

Ahmed Bashir, philosopher and journalist passed away in Lahore on Saturday. He was 80. He was chronic sufferer of high blood pressure and was hospitalised some two weeks back. He was father of TV actress Bushra Ansari.
Published 26 Dec, 2004 12:00am
Rocket attack kills four FC men near Turbat

Rocket attack kills four FC men near Turbat

Four paramilitary personnel were killed and five others injured after coming under rocket attack while patrolling near Turbat in Balochistan province, officials said on Saturday. "Four personnel of our force were killed by a rocket while five others recei
Published 26 Dec, 2004 12:00am
Rocket attack kills four FC men near Turbat

Rocket attack kills four FC men near Turbat

Four paramilitary personnel were killed and five others injured after coming under rocket attack while patrolling near Turbat in Balochistan province, officials said on Saturday. "Four personnel of our force were killed by a rocket while five others recei
Published 26 Dec, 2004 12:00am
Firm trend on money market

Firm trend on money market

The rupee managed to gain some ground versus the dollar amid shortened week on improved inflows of dollars by the exporters and rising trend in the remittances, experts said. In the inter-bank, the rupee gained 25 paisa in relation to the dollar for buyin
Published 26 Dec, 2004 12:00am
Firm trend on money market

Firm trend on money market

The rupee managed to gain some ground versus the dollar amid shortened week on improved inflows of dollars by the exporters and rising trend in the remittances, experts said. In the inter-bank, the rupee gained 25 paisa in relation to the dollar for buyin
Published 26 Dec, 2004 12:00am
Market and feasibility studies: PPIB to hire foreign advisors

Market and feasibility studies: PPIB to hire foreign advisors

The Private Power Infrastructure Board (PPIB) has decided to hire reputed international advisors for extensive marketing, feasibility studies and preparation of bidding documents for mega power projects, reliable sources told Business Recorder. The
Published 26 Dec, 2004 12:00am
Market and feasibility studies: PPIB to hire foreign advisors

Market and feasibility studies: PPIB to hire foreign advisors

The Private Power Infrastructure Board (PPIB) has decided to hire reputed international advisors for extensive marketing, feasibility studies and preparation of bidding documents for mega power projects, reliable sources told Business Recorder. The
Published 26 Dec, 2004 12:00am
Brokers fear further decline in cotton prices

Brokers fear further decline in cotton prices

Though the TCP has bought historically high stocks of over 2 million bales, cotton dealers fear further decline in the prices. Dealers said that the country was heading towards a production of 14 million bales, which would be a history, itself. "The high
Published 26 Dec, 2004 12:00am
Brokers fear further decline in cotton prices

Brokers fear further decline in cotton prices

Though the TCP has bought historically high stocks of over 2 million bales, cotton dealers fear further decline in the prices. Dealers said that the country was heading towards a production of 14 million bales, which would be a history, itself. "The high
Published 26 Dec, 2004 12:00am
Stock market achieves record feat

Stock market achieves record feat

The stock market performance during the last few weeks has been remarkable in every way, even after breaking its previous high of 5621 points, the market is in no mood to consolidate and flirted 6000 level last week on back of healthy turnover on daily ba
Published 26 Dec, 2004 12:00am
Stock market achieves record feat

Stock market achieves record feat

The stock market performance during the last few weeks has been remarkable in every way, even after breaking its previous high of 5621 points, the market is in no mood to consolidate and flirted 6000 level last week on back of healthy turnover on daily ba
Published 26 Dec, 2004 12:00am
Badla rates up 460 bps

Badla rates up 460 bps

The badla rates and investment touched all time high level despite the fact that some of the investors faced difficulties in arranging funds to carry forward their positions, where rates floated around 17 percent. The badla investment at the Karachi Stock
Published 26 Dec, 2004 12:00am
Badla rates up 460 bps

Badla rates up 460 bps

The badla rates and investment touched all time high level despite the fact that some of the investors faced difficulties in arranging funds to carry forward their positions, where rates floated around 17 percent. The badla investment at the Karachi Stock
Published 26 Dec, 2004 12:00am
July-November POL off-take up 19 percent

July-November POL off-take up 19 percent

The domestic petroleum product sales volume was up 19 percent in the first four months of FY05 because of the strong growth recorded in furnace oil (FO), high-speed diesel (HSD) and motor gasoline. The oil consumption in the country grew to 5.51 million t
Published 26 Dec, 2004 12:00am
July-November POL off-take up 19 percent

July-November POL off-take up 19 percent

The domestic petroleum product sales volume was up 19 percent in the first four months of FY05 because of the strong growth recorded in furnace oil (FO), high-speed diesel (HSD) and motor gasoline. The oil consumption in the country grew to 5.51 million t
Published 26 Dec, 2004 12:00am
Indian foreign secretary arrives

Indian foreign secretary arrives

A four-member delegation of senior Indian officials led by Foreign Secretary Shyam Saran arrived here on Saturday afternoon via Wagha to participate in the two-day talks with Pakistani officials beginning in Islamabad from December 27. The Indian High Com
Published 26 Dec, 2004 12:00am
Indian foreign secretary arrives

Indian foreign secretary arrives

A four-member delegation of senior Indian officials led by Foreign Secretary Shyam Saran arrived here on Saturday afternoon via Wagha to participate in the two-day talks with Pakistani officials beginning in Islamabad from December 27. The Indian High Com
Published 26 Dec, 2004 12:00am
Chinese couple jailed over 50 million dollar bank fraud

Chinese couple jailed over 50 million dollar bank fraud

A Chinese court has sentenced a couple to long prison terms for embezzling over 50 million dollars from a bank which was frittered away in gambling sessions in Macau, state media said Saturday. Chen Manxiong, 44, and his wife Chen Qiuyuan, 42, were senten
Published 26 Dec, 2004 12:00am
China submits draft law opposing Taiwan secession

China submits draft law opposing Taiwan secession

China submitted a draft law on Saturday it says is aimed at peaceful reunification with Taiwan, but which the island's residents and the United States fear could ratchet up tensions across the Strait. The official Xinhua news agency gave no details on the
Published 26 Dec, 2004 12:00am
Metals trade flexible when it comes to plastics

Metals trade flexible when it comes to plastics

Plastics futures debut on the London Metal Exchange (LME) in five months, with players taking different approaches to what the exchange hopes will be a success story after the past failure of some new contracts. Producers are wary of losing control of pri
Published 26 Dec, 2004 12:00am
Metals trade flexible when it comes to plastics

Metals trade flexible when it comes to plastics

Plastics futures debut on the London Metal Exchange (LME) in five months, with players taking different approaches to what the exchange hopes will be a success story after the past failure of some new contracts. Producers are wary of losing control of pri
Published 26 Dec, 2004 12:00am
Algerian army kills six rebels in two-hour gunbattle

Algerian army kills six rebels in two-hour gunbattle

Algeria's army has killed six Islamic militants in north-west Algeria during a sweep on a suspected rebel hideout, state radio quoted security services as saying on Saturday. The militants were killed on Friday during a two-hour gunbattle with anti-terror
Published 26 Dec, 2004 12:00am
China's switch to gas looks rewarding, but risky

China's switch to gas looks rewarding, but risky

China's city gas distributors expect to secure new finance next year for their race to connect new users, but while the industry's high-octane growth offers strong returns, the risks look high as well. Less than 10 percent of China's households have acces
Published 26 Dec, 2004 12:00am
Coffee rally in US has the legs to run higher

Coffee rally in US has the legs to run higher

A searing rally that lifted coffee prices to their highest in over four years may have the firepower behind it to hit even loftier levels, analysts said Monday. The catalyst for the surge has been projections that global coffee production will be outstrip
Published 26 Dec, 2004 12:00am
NPO to sign MoU with Unisame

NPO to sign MoU with Unisame

The National Productivity Organisation (NPO) will be signing a memorandum of understanding (MoU) with the Union of Small and Medium Enterprises (Unisame) at a luncheon meeting arranged at a local club on December 27, 2004 to give substance to an understan
Published 26 Dec, 2004 12:00am
NPO to sign MoU with Unisame

NPO to sign MoU with Unisame

The National Productivity Organisation (NPO) will be signing a memorandum of understanding (MoU) with the Union of Small and Medium Enterprises (Unisame) at a luncheon meeting arranged at a local club on December 27, 2004 to give substance to an understan
Published 26 Dec, 2004 12:00am
TCP sets up cotton purchase centre in Sanghar

TCP sets up cotton purchase centre in Sanghar

Trading Corporation of Pakistan (TCP) has established another cotton procurement centre in Sanghar distinct of Sindh province, which will become operational from Monday next. Sanghar is a large cotton producing district and this centre would help the grow
Published 26 Dec, 2004 12:00am
China Bird lags 2004 goal, denies Siemens talk

China Bird lags 2004 goal, denies Siemens talk

Ningbo Bird, China's largest home-grown cellphone maker, expects unit sales in 2004 to fall short of target by at least 30 percent as foreign rivals push out products to recapture the world's largest mobile market. And Bird - which expects to move 13 mill
Published 26 Dec, 2004 12:00am
China Bird lags 2004 goal, denies Siemens talk

China Bird lags 2004 goal, denies Siemens talk

Ningbo Bird, China's largest home-grown cellphone maker, expects unit sales in 2004 to fall short of target by at least 30 percent as foreign rivals push out products to recapture the world's largest mobile market. And Bird - which expects to move 13 mill
Published 26 Dec, 2004 12:00am
Seven schoolchildren die in coach-wagon collision

Seven schoolchildren die in coach-wagon collision

At least seven children of a private school have died when their vehicle collided head-on with a Kot Addu-bound coach due to thick fog near Chowk Azam, Leiah district, some 100 miles north-west of here on Saturday.
Published 26 Dec, 2004 12:00am
Railways to become corporation on July 1

Railways to become corporation on July 1

Federal Minister for Railways, Mian Shamim Haider has said that Pakistan Railways will be converted into a corporation from July 1, 2005. The top officials including its chairman and chief executive would be taken from the private sector while Railways Bo
Published 26 Dec, 2004 12:00am
Railways to become corporation on July 1

Railways to become corporation on July 1

Federal Minister for Railways, Mian Shamim Haider has said that Pakistan Railways will be converted into a corporation from July 1, 2005. The top officials including its chairman and chief executive would be taken from the private sector while Railways Bo
Published 26 Dec, 2004 12:00am
Kuwait stock bulls seen walking, not running in 2005

Kuwait stock bulls seen walking, not running in 2005

For 2005 few market watchers of oil-rich Kuwait's stock market are wildly bullish. But many are cautiously optimistic about prospects for the second largest Arab bourse, thanks to positive fundamental, economic, financial and geopolitical factors, some of
Published 26 Dec, 2004 12:00am
Duty on machinery: textile industry awaits CBR reply

Duty on machinery: textile industry awaits CBR reply

The Central Board of Revenue (CBR) has not yet taken any action on the complaint of textile industry contesting 5 percent duty on the import of plant/machinery and equipment by 41 textile spinning mills prior to January 29, 2001. The textile units were de
Published 26 Dec, 2004 12:00am
Duty on machinery: textile industry awaits CBR reply

Duty on machinery: textile industry awaits CBR reply

The Central Board of Revenue (CBR) has not yet taken any action on the complaint of textile industry contesting 5 percent duty on the import of plant/machinery and equipment by 41 textile spinning mills prior to January 29, 2001. The textile units were de
Published 26 Dec, 2004 12:00am
Duty on machinery: textile industry awaits CBR reply

Duty on machinery: textile industry awaits CBR reply

The Central Board of Revenue (CBR) has not yet taken any action on the complaint of textile industry contesting 5 percent duty on the import of plant/machinery and equipment by 41 textile spinning mills prior to January 29, 2001. The textile units were de
Published 26 Dec, 2004 12:00am
Quota abolition: no need for visa, export licence after January 1

Quota abolition: no need for visa, export licence after January 1

The Export Promotion Bureau (EPB) has informed the textile associations and exporters that since there will be no quota regime from January 1, 2005, there will, therefore, be no need for visa/export licence for textile goods. However, all other normal doc
Published 26 Dec, 2004 12:00am
Quota abolition: no need for visa, export licence after January 1

Quota abolition: no need for visa, export licence after January 1

The Export Promotion Bureau (EPB) has informed the textile associations and exporters that since there will be no quota regime from January 1, 2005, there will, therefore, be no need for visa/export licence for textile goods. However, all other normal doc
Published 26 Dec, 2004 12:00am
Seven Pakistani pilgrims expire

Seven Pakistani pilgrims expire

Seven Pakistani pilgrims have so far died after arriving in Saudi Arabia for Haj-2005, Pakistan Haj Medical Mission reported. The mission, which also made arrangements for their burial, said they died of natural causes. The national flag carrier PIA has a
Published 26 Dec, 2004 12:00am
Prospector looks to revive Australian tin mining

Prospector looks to revive Australian tin mining

Australia's Malachite Resources N.L has planted a drill rig atop a modified four-wheel drive Landcruiser in hopes of reviving Australia's long declining tin mining industry. Depressed metals prices and a string of bankruptcies have left Australia, once th
Published 26 Dec, 2004 12:00am
Suicide and bomb attacks kill 14 in Iraq

Suicide and bomb attacks kill 14 in Iraq

Rescuers dug seven bodies, all of them from the same family, from the rubble of their house on Saturday after an abortive truck bomb attack on the Jordanian embassy in Baghdad in which nine people died. As American troops and Iraq's beleaguered Christian
Published 26 Dec, 2004 12:00am
Suicide and bomb attacks kill 14 in Iraq

Suicide and bomb attacks kill 14 in Iraq

Rescuers dug seven bodies, all of them from the same family, from the rubble of their house on Saturday after an abortive truck bomb attack on the Jordanian embassy in Baghdad in which nine people died. As American troops and Iraq's beleaguered Christian
Published 26 Dec, 2004 12:00am
One dead, 7 hurt in Bannu bomb blast

One dead, 7 hurt in Bannu bomb blast

A bomb blast killed a suspected member of a banned extremist outfit and wounded seven other people in Bannu town close to the North Waziristan area on Saturday, officials said. "One person was killed and four were wounded in the blast," Information Minist
Published 26 Dec, 2004 12:00am
One dead, 7 hurt in Bannu bomb blast

One dead, 7 hurt in Bannu bomb blast

A bomb blast killed a suspected member of a banned extremist outfit and wounded seven other people in Bannu town close to the North Waziristan area on Saturday, officials said. "One person was killed and four were wounded in the blast," Information Minist
Published 26 Dec, 2004 12:00am
India willing to join Pak-Iran gas pipeline project

India willing to join Pak-Iran gas pipeline project

Pakistan is yet to formally respond to India's written invitation for detailed discussion on the proposed Pak-Iran gas pipeline project, it is learnt here reliably. Indian High Commissioner to Pakistan Shiv Shankar Menon had delivered a letter of the Indi
Published 26 Dec, 2004 12:00am
India willing to join Pak-Iran gas pipeline project

India willing to join Pak-Iran gas pipeline project

Pakistan is yet to formally respond to India's written invitation for detailed discussion on the proposed Pak-Iran gas pipeline project, it is learnt here reliably. Indian High Commissioner to Pakistan Shiv Shankar Menon had delivered a letter of the Indi
Published 26 Dec, 2004 12:00am
Inter-provincial meeting on security on December 27

Inter-provincial meeting on security on December 27

A two-day inter-provincial co-ordination meeting on internal security is being held in Lahore on Monday to discuss a host of security issues confronting the nation for past quarter of a century and the post December 31 situation fraught with social and po
Published 26 Dec, 2004 12:00am
Inter-provincial meeting on security on December 27

Inter-provincial meeting on security on December 27

A two-day inter-provincial co-ordination meeting on internal security is being held in Lahore on Monday to discuss a host of security issues confronting the nation for past quarter of a century and the post December 31 situation fraught with social and po
Published 26 Dec, 2004 12:00am
Natural disasters cost insurance industry over $35 billion

Natural disasters cost insurance industry over $35 billion

For the first 10 months of this year natural disasters cost the insurance industry just over 35 billion dollars, up from 16 billion dollars in 2003, and 2004 was set to go down in the history books, as the most expensive year for the insurance industry wo
Published 26 Dec, 2004 12:00am
Natural disasters cost insurance industry over $35 billion

Natural disasters cost insurance industry over $35 billion

For the first 10 months of this year natural disasters cost the insurance industry just over 35 billion dollars, up from 16 billion dollars in 2003, and 2004 was set to go down in the history books, as the most expensive year for the insurance industry wo
Published 26 Dec, 2004 12:00am
Shaukat hails Christians contribution in education

Shaukat hails Christians contribution in education

Prime Minister Shaukat Aziz on Saturday appreciated the contribution of eminent persons from minorities, especially Christians in education and other sectors of life. Talking to a 15-member delegation of Christians led by Professor Mushtaq Victor, MNA, Sh
Published 26 Dec, 2004 12:00am
Quaid's birth anniversary celebrated with zeal

Quaid's birth anniversary celebrated with zeal

The 128th birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah was celebrated on Saturday with a renewed pledge to make Pakistan economically strong and an Islamic state in line with the aspirations of the Father of the Nation. The day was declared as a
Published 26 Dec, 2004 12:00am
President in uniform must for system: Rashid

President in uniform must for system: Rashid

Federal Minister for Information and Broadcasting Shaikh Rashid Ahmed on Saturday said the uniform of President General Pervez Musharraf was a reality and it had become a necessity for the present political and economic system in the country. Talking to n
Published 26 Dec, 2004 12:00am
PML-N concerned over PPPP's reported deal with government

PML-N concerned over PPPP's reported deal with government

PML (N) Chairman Raja Zafarul Haq has warned the Pakistan Peoples Party Parliamentarian's leadership against a possible "deal" with the government saying such a move would sabotage the struggle to restore constitutionalism and rule of law in the country.
Published 26 Dec, 2004 12:00am
Prime Minister for basic amenities to masses

Prime Minister for basic amenities to masses

Government is committed to provide basic facilities of life to all people whether from big cities or small towns, Prime Minister Shaukat Aziz said this while talking to a delegation from Fateh Jang. The delegation included Sardar Muhammad Ali, MPA Sardar
Published 26 Dec, 2004 12:00am
Government to reactivate three dispensaries

Government to reactivate three dispensaries

In order to reduce increasing burden on health facilities of the Federal Capital's two major medical institutions, government has decided to upgrade and reactivate three dispensaries out of total 26 operating in Islamabad. Federal Secretary Health Syed An
Published 26 Dec, 2004 12:00am
City Games declared open

City Games declared open

City Nazim Naimatullah Khan declared the first-ever City Games opened with the resolve to make it a regular feature of the city's culture. Addressing to the opening ceremony, the City Nazim described sports as an essential, healthy and constructive social
Published 26 Dec, 2004 12:00am
Nawaz League to merge with unified PML, says Wattoo

Nawaz League to merge with unified PML, says Wattoo

Pakistan Muslim League (PML) Senior Vice President and former Chief Minister Punjab Mian Manzoor Ahmad Wattoo has claimed that PML (N) would soon merge with the united Muslim League. He was addressing a seminar on the eve of birth anniversary of Quaid-e-A
Published 26 Dec, 2004 12:00am
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