News Archives for Print - 2005-01-01

London Interbank Offered Rates

London Interbank Offered Rates (LIBOR) on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Hewitt hopes a return home will provide tonic

Back in the bosom of his family, Lleyton Hewitt is gunning for Australian success. Still licking his wounds after the recent split from fiancée Kim Clijsters, the former world number one has gone back to his roots as he seeks a first Australian Open title

Published 01 Jan, 2005 12:00am

UN says quake aid now over $1.1 billion

More than 1.1 billion dollars have so far been pledged for the relief effort after the Asian tsunami disaster, the United Nations announced on Friday. "We are now counting new pledges by the hour. We're now between 1.1 billion and 1.2 billion dollars," th

Published 01 Jan, 2005 12:00am

England must keep improving in 2005: Giles

Spinner Ashley Giles says England, who won 11 of 13 test matches and drew the other two in 2004, will not rest on their laurels next year. "We haven't sat down and discussed the success we have had this year, but we are aware that we have to keep building

Published 01 Jan, 2005 12:00am

Lockheed gets $716 million F/A-22 contracts

Lockheed Martin Corp has received two US Air Force contracts totalling $716 million to continue work on its F/A-22 Raptor fighter jet, designed to be the world's most capable, amid reports the $72 billion program may be scaled back sharply, the company sa

Published 01 Jan, 2005 12:00am

Pakistan face up to final massive task against Australia

It's a New Year's Test of stark contrasts: Pakistan are scratching to come up with a team while Australia are blessed with options after naming a 13-man squad for the final Sydney cricket Test getting under way on Sunday. Injuries and illness have compoun

Published 01 Jan, 2005 12:00am

WTO regime to end textile quotas only: Humayun

The Federal Minister for Commerce Humayun Akhtar Khan has said there would be no change except removal of textile quotas in 2005 with the enforcement of World Trade Organisation (WTO) regime. Dispelling apprehensions about WTO he said there would also be

Published 01 Jan, 2005 12:00am

Aussies propose international tsunami fundraising match

Australia's cricketers on Thursday proposed an international match to raise funds for tsunami victims but said the event depended on co-operation from cricket bodies. Cricket Australia chief executive James Sutherland met players' representatives and ICC

Published 01 Jan, 2005 12:00am

Citigroup is top Wall Street underwriter for 2004

Citigroup Inc was in 2004 Wall Street's busiest stock and bond underwriter for the fifth year in a row, amid the welcome resurgence in investor demand for equities and surprisingly strong sentiment for bonds. Data released on Friday by Thomson Financial a

Published 01 Jan, 2005 12:00am

Australian tennis to help raise disaster relief funds

Next month's Australian Open and its seven lead-up tennis tournaments will raise funds to help the victims of the Asian tsunami disaster, Tennis Australia (TA) said on Friday. TA said the tournaments, the first of which begins this weekend with the Hopman

Published 01 Jan, 2005 12:00am

Fresh wave of violence kills 10 in Indian occupied Kashmir

Ten people were killed in the latest outbreak of violence in Indian occupied Kashmir, where authorities called off a rare New Year party out of respect for tsunami victims, officials said on Friday. Occupation troops killed five members of hard-line group

Published 01 Jan, 2005 12:00am

Clarke hoping first Sydney Test will bring runs

Michael Clarke is hoping his first home-town Test over the New Year will bring a return to batting form against Pakistan. The 23-year-old batting prodigy is keenly looking forward to playing in his first Sydney Cricket Ground Test and spent Friday working

Published 01 Jan, 2005 12:00am

175 New Year revelers die in inferno

A fire tore through a Buenos Aires night-club packed with young New Year's revellers and killed at least 175 people as a stampeding crowd was trapped by locked exit doors, officials said on Friday. At least 714 people were injured in the Thursday night bl

Published 01 Jan, 2005 12:00am

LSE set for fresh talks with suitors in new year

The London Stock Exchange holds fresh meetings with its two suitors next week when Deutsche Bourse and Euronext flesh out their rival approaches to take over Europe's biggest equity market. Deutsche Bourse will meet with top LSE officials on Thursday and

Published 01 Jan, 2005 12:00am

175 New Year revelers die in inferno

A fire tore through a Buenos Aires night-club packed with young New Year's revellers and killed at least 175 people as a stampeding crowd was trapped by locked exit doors, officials said on Friday. At least 714 people were injured in the Thursday night bl

Published 01 Jan, 2005 12:00am

Ahold completes Brazilian disposals

Dutch retailer Ahold has agreed to sell its Brazilian retail chain G. Barbosa Comercial to an affiliate of US-based investment firm ACON Investments for an estimated 90 million euros ($122.4 million). Ahold, the world's fourth-biggest food retail and food

Published 01 Jan, 2005 12:00am

July-December tax collection surpasses target

The Central Board of Revenue (CBR) has collected Rs 253 billion to surpass the revenue target of Rs 249 billion during the first half of the current financial year. The provisional collection of Rs 253 billion clearly reflects that the tax collection agen

Published 01 Jan, 2005 12:00am

Russia plans laws against polluting industry in 2005

Russia plans its first laws to crack down on industrial polluters next year, and will force offending companies to invest in clean technology rather than pay fines, the natural resources minister said on Friday. Yuri Trutnev said it was time to rein in So

Published 01 Jan, 2005 12:00am

July-December tax collection surpasses target

The Central Board of Revenue (CBR) has collected Rs 253 billion to surpass the revenue target of Rs 249 billion during the first half of the current financial year. The provisional collection of Rs 253 billion clearly reflects that the tax collection agen

Published 01 Jan, 2005 12:00am

EU to launch pioneering emissions trading scheme

A new front opens this weekend in the battle against global warming as the European Union launches the world's first international carbon dioxide emissions trading scheme. From New Year's Day, energy-intensive businesses will have to monitor and lower the

Published 01 Jan, 2005 12:00am

Temporary Importation Scheme extended up to June 30

The government has extended "Temporary Importation Scheme" (SRO. 410(I)/2001) up to June 30, 2005 to facilitate 13 leading value-added industries, engaged in temporary import of raw materials/inputs for manufacture of export goods. Making amendment in the

Published 01 Jan, 2005 12:00am

Cyprus sees ERM-2 entry in early 2005

Cyprus expects to link its pound to the European Exchange Rate Mechanism (ERM-2) by March or April 2005 at the latest, and sees no reason to change the currency's current rate against the euro, said Finance Minister Makis Keravnos. Keravnos told Reuters i

Published 01 Jan, 2005 12:00am

Temporary Importation Scheme extended up to June 30

The government has extended "Temporary Importation Scheme" (SRO. 410(I)/2001) up to June 30, 2005 to facilitate 13 leading value-added industries, engaged in temporary import of raw materials/inputs for manufacture of export goods. Making amendment in the

Published 01 Jan, 2005 12:00am

SAIC launches shareholding company paving way for IPO

Shanghai Automotive Industry Corp (SAIC), China's largest automaker, has launched a new shareholding company to prepare for an eventual overseas listing, state press reported Friday. Shanghai Automotive Group Company Ltd, will have registered capital of 2

Published 01 Jan, 2005 12:00am

Temporary Importation Scheme extended up to June 30

The government has extended "Temporary Importation Scheme" (SRO. 410(I)/2001) up to June 30, 2005 to facilitate 13 leading value-added industries, engaged in temporary import of raw materials/inputs for manufacture of export goods. Making amendment in the

Published 01 Jan, 2005 12:00am

Hyundai Motor targets 14 percent rise in 2005 sales

South Korea's Hyundai Motor Co raised on Friday its 2005 sales target by 14 percent to 2.58 million vehicles, targeting overseas markets as part of its ambition to become one of the world's top five auto makers. Hyundai Motor, which controls half its dome

Published 01 Jan, 2005 12:00am

Cargo airlines cut fuel surcharge by Rs 3 per kg

Cargo airlines have announced to reduce fuel surcharge (FSC) by Rs 3 per kilogram from January 4. The decision has been taken after a drop in world oil prices after a spiral of rising for several months. Cargolux, a leading cargo airline taking Pakistani

Published 01 Jan, 2005 12:00am

Germany denies report Eichel to go

The German government denied on Friday a report in weekly magazine Der Spiegel that Chancellor Gerhard Schroeder planned to replace Finance Minister Hans Eichel by next summer. "This appears to be an unfortunate new year's joke," said a government spokesm

Published 01 Jan, 2005 12:00am

Cargo airlines cut fuel surcharge by Rs 3 per kg

Cargo airlines have announced to reduce fuel surcharge (FSC) by Rs 3 per kilogram from January 4. The decision has been taken after a drop in world oil prices after a spiral of rising for several months. Cargolux, a leading cargo airline taking Pakistani

Published 01 Jan, 2005 12:00am

Dutch court sets up Unilever probe panel

The Amsterdam commercial court has set up a panel to probe Unilever's treatment of its preference shares that could force the Anglo-Dutch food-to-detergents group to pay out to disgruntled investors. The court said on Friday the panel, consisting of three

Published 01 Jan, 2005 12:00am

KSE index breaches 6,200 level

The share market on the last session of 2004 scored more than a century and the index comfortably breached the 6,200 level as buying in fuel, gas and banking sectors ignited the rally. The KSE-100 index registered an increase of 111.47 points or 1.83 perc

Published 01 Jan, 2005 12:00am

Dutch court sets up Unilever probe panel

The Amsterdam commercial court has set up a panel to probe Unilever's treatment of its preference shares that could force the Anglo-Dutch food-to-detergents group to pay out to disgruntled investors. The court said on Friday the panel, consisting of three

Published 01 Jan, 2005 12:00am

KSE index breaches 6,200 level

The share market on the last session of 2004 scored more than a century and the index comfortably breached the 6,200 level as buying in fuel, gas and banking sectors ignited the rally. The KSE-100 index registered an increase of 111.47 points or 1.83 perc

Published 01 Jan, 2005 12:00am

Nigerian share index up

The Nigerian stock market jumped 2.4 percent to 23,844.45 on Friday from 23,292.58 on Thursday, the biggest one-day rise since July, ending the year 18.6 percent up, traders said.

Published 01 Jan, 2005 12:00am

Post-WTO scenario discussed

On the eve of quota-free regime, the government has assured the textile manufacturers and exporters that there would be no restrictions on the export of bed-linen and other textile products to the 25 EU member states, Canada and the United States from Jan

Published 01 Jan, 2005 12:00am

Lithuania starts closing of Chernobyl-type nuclear plant unit

Lithuania on Friday started shutting down unit one of its Chernobyl-style Ignalina nuclear power plant, in line with a promise to the European Union to close the facility in the coming years. "The capacities at the first unit have already been reduced to

Published 01 Jan, 2005 12:00am

Post-WTO scenario discussed

On the eve of quota-free regime, the government has assured the textile manufacturers and exporters that there would be no restrictions on the export of bed-linen and other textile products to the 25 EU member states, Canada and the United States from Jan

Published 01 Jan, 2005 12:00am

West Africans stage late rush to change old money

Across West Africa, people queued at bank counters on Friday to swap their grubby old CFA franc banknotes for new ones in the closing hours of a region-wide changeover, some clutching their life savings. The regional central bank launched a massive operat

Published 01 Jan, 2005 12:00am

Time has come to put words into action: Musharraf

President General Pervez Musharraf stressing upon the need to maintain solidarity in the country, said that the nation must move ahead with its own values and cultural system. He was addressing the concluding session of first Punjab Students Convention at

Published 01 Jan, 2005 12:00am

Oracle replaces PeopleSoft co-presidents

Oracle Corp has replaced PeopleSoft Inc's co-presidents, after taking control of the rival software maker earlier this week, according to a regulatory filing. PeopleSoft Co-President and Chief Financial Officer Kevin Parker and Co-President Phillip Wilmin

Published 01 Jan, 2005 12:00am

Bulls take control of LSE

Powered by across the board aggressive buying, bulls roared on Lahore Stock Exchange (LSE) on last trading of the week, while the index recorded net 50.93 points gain, amid descending volume of transactions. The LSE-25 index closed at 2997.61 points compa

Published 01 Jan, 2005 12:00am

LG Group and creditors agree $960 million Card bailout

Creditors of LG Card and its former parent, LG Group, agreed on Friday a $960 million lifeline for South Korea's biggest credit card company, averting a corporate collapse that had threatened the economy. LG Group, the country's second-largest conglomerat

Published 01 Jan, 2005 12:00am

Bulls take control of LSE

Powered by across the board aggressive buying, bulls roared on Lahore Stock Exchange (LSE) on last trading of the week, while the index recorded net 50.93 points gain, amid descending volume of transactions. The LSE-25 index closed at 2997.61 points compa

Published 01 Jan, 2005 12:00am

IBM PC unit sold to Lenovo built up $1 billion deficit

IBM's PC unit piled up nearly $1 billion in cumulative losses in recent years, the company said in a filing on Thursday detailing the planned sale of the business to China's Lenovo Group. The merger of IBM's PC business into Lenovo creates the world's thi

Published 01 Jan, 2005 12:00am

ISE equities post handsome gains

Equities scored handsome gains under the lead of hot favourite at the Islamabad Stock Exchange (ISE) where fresh buying spree in trend-setters moved the entire ready-board in upward direction amid increase in index ISE network index showed an increase of

Published 01 Jan, 2005 12:00am

'Tsunami to hurt Sri Lankan growth'

A devastating tsunami that ravaged Sri Lanka's coastal resorts will hurt Sri Lanka's growth prospects in 2005, the Central Bank said on Friday, even as drought and high oil prices slowed third-quarter expansion. The economy grew 5.0 percent in the year th

Published 01 Jan, 2005 12:00am

ISE equities post handsome gains

Equities scored handsome gains under the lead of hot favourite at the Islamabad Stock Exchange (ISE) where fresh buying spree in trend-setters moved the entire ready-board in upward direction amid increase in index ISE network index showed an increase of

Published 01 Jan, 2005 12:00am

Race for world trade job seen too close to call

Former European Union trade chief Pascal Lamy is the best known of four candidates to stake a claim by Friday's deadline to lead the world's top trade body, but renown may not be enough to win the job, analysts say. A Brazilian and a Uruguayan, both exper

Published 01 Jan, 2005 12:00am

Boeing to ink Vietnam Air 7E7 deal in first quarter of 2005

Boeing Co expects to finalise a contract with Vietnam Airlines in the first quarter of 2005 for four 7E7 planes, which are worth around $500 million at list price. Vietnam Airlines' President and CEO Nguyen Xuan Hien said earlier this month he wanted his

Published 01 Jan, 2005 12:00am

Indian economy slows in July-September quarter

India's economy grew 6.6 percent in the year through the July-September quarter, its weakest pace in more than a year, held back by a shrinking farm sector following poor monsoon rains, data showed on Friday. Analysts said they expected the impact of the

Published 01 Jan, 2005 12:00am

Hollinger can't yet complete annual report

Canadian media holding company Hollinger Inc said on Friday it cannot complete its 2003 financial statements until its US-based Hollinger International Inc affiliate finishes its annual financial report. The holding company, embroiled in a complex legal b

Published 01 Jan, 2005 12:00am

French unemployment rate stays steady

France's unemployment rate held steady at 9.9 percent in November, dragging on the eurozone's second biggest economy and leaving economists pessimistic about the prospects for a strong French recovery in 2005. The Labour Ministry said on Friday the number

Published 01 Jan, 2005 12:00am

France sees room for tax cuts and reduced deficit

France is set to cut taxes further while keeping a tight hold on public spending as it aims to reduce its national deficit within European Union limits next year, a Finance Ministry official said on Friday. "The control of spending has priority more than

Published 01 Jan, 2005 12:00am

Russia approves Pacific pipeline, drops China route

The Russian government on Friday gave its long-awaited final approval for a major oil pipeline to the Pacific, enabling exports to Japan and the United States, and thus finally dropping the idea of a route to China alone. The government said in a statemen

Published 01 Jan, 2005 12:00am

Sigh of relief as Russia cuts VimpelCom tax bill

Russia has slashed a 2001 tax claim for the country's No 2 mobile firm, VimpelCom, signalling an end to a crisis in which investors feared authorities were seeking new targets after crushing oil major YUKOS. US-listed VimpelCom said in a statement late Th

Published 01 Jan, 2005 12:00am

Rosneft takes control of Yugansk

Russian state oil firm Rosneft on Friday put its man in charge of Yuganskneftegaz, taking control of the main production unit of oil major Yukos, which is challenging the government auction of the asset in US courts. Rosneft managers, escorted by bailiffs

Published 01 Jan, 2005 12:00am

Sigh of relief as Russia cuts VimpelCom tax bill

Russia has slashed a 2001 tax claim for the country's No 2 mobile firm, VimpelCom, signalling an end to a crisis in which investors feared authorities were seeking new targets after crushing oil major YUKOS. US-listed VimpelCom said in a statement late Th

Published 01 Jan, 2005 12:00am

General Electric closes stake sale in India back office unit

General Electric Co said Friday that two private equity firms completed a deal to buy a majority interest in its India-based back office unit. The conglomerate also affirmed its previous 2004 and fourth-quarter earnings forecasts. GE said it received abou

Published 01 Jan, 2005 12:00am

Kenya, Uganda and Tanzania launch customs union

Kenya, Tanzania and Uganda launch a customs union on Saturday in the hope of attracting more investment and boosting business in an impoverished region of 90 million people. The three countries' farm-based economies are stable when compared to their war-d

Published 01 Jan, 2005 12:00am

General Electric closes stake sale in India back office unit

General Electric Co said Friday that two private equity firms completed a deal to buy a majority interest in its India-based back office unit. The conglomerate also affirmed its previous 2004 and fourth-quarter earnings forecasts. GE said it received abou

Published 01 Jan, 2005 12:00am

Gas discovered at Jhal Magsi

The Oil and Gas Development Company Limited (OGDCL) on Friday announced that its Jhal Magsi South Well No 1 discovery has been a success, which will produce 11 MMCFD gas. Jhal Magsi South No 1 is in Kotra exploration license in Kachhi, Khuzdar districts s

Published 01 Jan, 2005 12:00am

German labour office fixes benefit payment glitch

Germany's Federal Labour Office said on Friday it had fixed a computer problem which had threatened to embarrass the government at the launch of its controversial labour market reforms. Around five percent of Germany's estimated three million long-term un

Published 01 Jan, 2005 12:00am

Gas discovered at Jhal Magsi

The Oil and Gas Development Company Limited (OGDCL) on Friday announced that its Jhal Magsi South Well No 1 discovery has been a success, which will produce 11 MMCFD gas. Jhal Magsi South No 1 is in Kotra exploration license in Kachhi, Khuzdar districts s

Published 01 Jan, 2005 12:00am

World market price for upland cotton: USDA

The US Agriculture Department set the prevailing world market price for upland cotton at 33.61 cents per pound, effective through January 6. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. USDA cotton e

Published 01 Jan, 2005 12:00am

Waheed elected Islamabad Stock Exchange chairman

Islamabad Stock Exchange (ISE) has elected Abdul Waheed Jan as a new chairman of the exchange for the year 2005. The election of new chairman of board of directors of ISE took place here on Friday in the first meeting of the Board. The Board unanimously e

Published 01 Jan, 2005 12:00am

New York coffee falters on last trading day of 2004

Arabica coffee futures pulled back on Thursday, as profits were taken in thin markets on the last trading day of the year, dealers said. But speculation persists that beans will be in short supply next year, which should continue to be supportive in the s

Published 01 Jan, 2005 12:00am

Steering body of Expo Pakistan reviews progress, shortfall of Rs 40 million noted

The Expo Pakistan steering committee, which met on Friday to review the progress on the mega event under the chairmanship of Commerce Minister Humayun Akhtar, was informed that there was shortfall of Rs 40 million as only Rs 50 million had been committed

Published 01 Jan, 2005 12:00am

New York cocoa futures end up in quiet year-end business

New York cocoa futures finished a touch higher on Thursday as speculative short-covering was met with fund sales which held prices in a quiet band on 2004's last day of trade, floor sources said. The NYBOT cocoa market will be shut on Friday, December 31,

Published 01 Jan, 2005 12:00am

Designs of Rs 20 and 5000 currency notes approved

The designs for currency notes of Rs 20 and 5,000 were approved by the government on Friday. The Prime Minister Shaukat Aziz presided over the meeting of the Cabinet Committee on the design of currency notes. The meeting was attended by Federal Minister f

Published 01 Jan, 2005 12:00am

KCBT wheat up on late short-covering rally

Kansas City Board of Trade wheat futures settled higher on Thursday thanks to a late short-covering rally ahead of the extended holiday weekend, traders said. The market closed 1 cent to 3-3/4 cents higher, with the March at $3.38, up 3-1/2 cents. March r

Published 01 Jan, 2005 12:00am

Designs of Rs 20 and 5000 currency notes approved

The designs for currency notes of Rs 20 and 5,000 were approved by the government on Friday. The Prime Minister Shaukat Aziz presided over the meeting of the Cabinet Committee on the design of currency notes. The meeting was attended by Federal Minister f

Published 01 Jan, 2005 12:00am

Karachi interbank rates

Karachi interbank rates on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Power generation: Irsa hits out at Wapda for release of extra water

The Indus River System Authority (Irsa) has protested over the release of additional 3,600 cusecs water per day by Water and Power Development Authority (Wapda) for power generation from Tarbela in violation of the rules set by the government. An official

Published 01 Jan, 2005 12:00am

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 01 Jan, 2005 12:00am

Power generation: Irsa hits out at Wapda for release of extra water

The Indus River System Authority (Irsa) has protested over the release of additional 3,600 cusecs water per day by Water and Power Development Authority (Wapda) for power generation from Tarbela in violation of the rules set by the government. An official

Published 01 Jan, 2005 12:00am

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 01 Jan, 2005 12:00am

Team may visit India from January 3 to discuss Baglihar issue

Pakistan is likely to dispatch a 10-member team headed by the Secretary Water and Power Ashfaq Mehmood to New Delhi on January 3 as a last diplomatic effort to resolve controversy over 450-megawatt Baglihar hydropower project, reliable sources told Bus

Published 01 Jan, 2005 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Team may visit India from January 3 to discuss Baglihar issue

Pakistan is likely to dispatch a 10-member team headed by the Secretary Water and Power Ashfaq Mehmood to New Delhi on January 3 as a last diplomatic effort to resolve controversy over 450-megawatt Baglihar hydropower project, reliable sources told Bus
Published 01 Jan, 2005 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

New Year to bring hopes, fears for textile exporters

The New Year would bring both hopes and fears for Pakistani textile exporters as the quota regime would come to an end and a free world market would offer more competition than ever before. While some exporters find it a new attraction with more opportuni
Published 01 Jan, 2005 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

New Year to bring hopes, fears for textile exporters

The New Year would bring both hopes and fears for Pakistani textile exporters as the quota regime would come to an end and a free world market would offer more competition than ever before. While some exporters find it a new attraction with more opportuni
Published 01 Jan, 2005 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Loadshedding plan cancelled

The Water and Power Development Authority (Wapda) has issued notification that there will be no loadshedding of power in winter, besides punishing the general manager (operations) responsible for issuing loadshedding schedule without taking the federal go
Published 01 Jan, 2005 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Loadshedding plan cancelled

The Water and Power Development Authority (Wapda) has issued notification that there will be no loadshedding of power in winter, besides punishing the general manager (operations) responsible for issuing loadshedding schedule without taking the federal go
Published 01 Jan, 2005 12:00am

Interest rates on new foreign currency deposits

Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Power sector corporatisation remains incomplete

The corporatisation of power sector remained incomplete because of inefficiency of the Economic Affairs Division (EAD) and half-hearted efforts by Wapda's top brass, it is reliably learnt. President General Pervez Musharraf had set December 31 deadline fo
Published 01 Jan, 2005 12:00am

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 (December 31, 2004).

Published 01 Jan, 2005 12:00am

Prime Minister calls for Asia-wide early warning system

The leaders of the seven country regional alliance of South Asian states - Saarc - have expressed their shock and grief over the loss of precious lives and damage to property by the tsunami and quake. Prime Minister Shaukat Aziz, in his capacity as Chairm
Published 01 Jan, 2005 12:00am

Banks' rates for currency notes (buying and selling)

The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Pakistan completes United Nations Security Council term

Pakistan on Friday completed its two-year term on the United Nations Security Council (UNSC). Pakistan was elected in September 2002 along with Angola, Chile, Germany and Spain and began their terms on January 1, 2003. "We complete the Security Council te
Published 01 Jan, 2005 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (December 31, 2004).
Published 01 Jan, 2005 12:00am

President's fund for tsunami victims

The government on Friday announced setting up of a President's Relief Fund to mobilise resources for the victims of tsunami of South Asia. It will be used to collect funds for the millions who have been displaced by the massive tidal wave that devastated
Published 01 Jan, 2005 12:00am

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (December 31, 2004).

Published 01 Jan, 2005 12:00am

Punjab Chief Minister calls on Musharraf

The Punjab Chief Minister Chaudhry Pervaiz Elahi called on the President Pervez Musharraf here on Friday. During the meeting uplift projects of various nature in the Punjab province came under discussion.
Published 01 Jan, 2005 12:00am

Election Commission ready to hold local bodies polls

The Election Commission is ready to hold local bodies elections in April 2005 as announced by President General Pervez Musharraf in his address to the nation on Thursday, Election Commission Secretary Kunwar Dilshad told Business Recorder here on F
Published 01 Jan, 2005 12:00am

Dates of Closure of Books & Annual General Meetings

Dates of Closure of Books and holding of Ordinary and Extra-Ordinary General Meetings of companies listed on the stock exchanges.

Published 01 Jan, 2005 12:00am

Donations for tsunami victims

Honorary Consul of Sri Lanka Pervez Hanif has expressed grief and sorrow over the natural catastrophe in Sri Lanka, which has left more than 25,000 people dead and many other injured as well as homeless. In a press release issued here on Friday, the forme
Published 01 Jan, 2005 12:00am

Currency	Rate
USD PKR Interbank Selling / Apr 11	280.53
USD PKR Interbank Buying / Apr 11	280.28
USD to Japanese Yen / Apr 11	143.54
USD to Swiss Franc / Apr 11	0.81
Pound Sterling to USD / Apr 11	1.31
Euro to USD / Apr 11	1.14
UK LIBOR % / Apr 11	4.96

Stock	Volume
S&P 500 / Apr 11	5,363.36
India Sensex / Apr 11	75,157.26
Tokyo Nikkei / Apr 11	33,585.58
Nasdaq / Apr 11	16,724.46
Hang Seng / Apr 11	20,914.69
FTSE 100 / Apr 11	7,964.18
Dow Jones / Apr 11	40,212.71
Germany DAX 30 / Apr 11	20,374.10
France CAC40 / Apr 11	7,104.80

Item	Value
Crude Oil USD/Barrel / Apr 11	61.50
Karachi Cotton PKR/37.32 KG / Apr 11	16,785
Gold 10 Grams PKR / Apr 11	290,466
Gold Spot USD/Ounce / Apr 11	3,237.61
Cotton US¢/pound / Apr 11	67.01
Petrol/Litre / Apr 12	254.63
Diesel/Litre / Apr 12	258.64

Stock	Price
Pak Agro Pack. (GEM) / Apr 11 Pak Agro Packaging Limited (GEM)(GEMPAPL)	8.85 ▲ 1 (12.74%)
Ruby Textile / Apr 11 Ruby Textile Mills Limited(RUBY)	7 ▲ 0.7 (11.11%)
Bawany Air Products / Apr 11 Bawany Air Products Limited(BAPL)	28.91 ▲ 2.63 (10.01%)
Calcorp Ltd / Apr 11 Calcorp Limited(CASH)	37.24 ▲ 3.39 (10.01%)
PIA Holding Co.B / Apr 11 PIA Holding Company Limited B(PIAHCLB)	1,329.45 ▲ 120.86 (10%)
ZIL Limited / Apr 11 ZIL Limited(ZIL)	295.72 ▲ 26.88 (10%)
Jubile Life InsXD / Apr 11 Jubilee Life Insurance Company Limited(JLICL)	152.56 ▲ 13.87 (10%)
Diamond Ind. / Apr 11 Diamond Industries Limited(DIIL)	35.20 ▲ 3.2 (10%)
Parmount Sp. / Apr 11 Paramount Spinning Mills Limited(PASM)	4.18 ▲ 0.38 (10%)
Hoechst Pak. / Apr 11 Hoechst Pakistan Limited(HPL)	3,519 ▲ 319 (9.97%)

Stock	Price
Oilboy Energy(R) / Apr 11 Oilboy Energy Limited(R)(OBOYR2)	1.84 ▼ -0.41 (-18.22%)
First Elite Cap.Mod / Apr 11 First Elite Capital Modaraba(FECM)	17.53 ▼ -1.95 (-10.01%)
National Silk / Apr 11 The National Silk & Rayon Mills Limited(NSRM)	30.75 ▼ -3.25 (-9.56%)
Universal Ins. / Apr 11 The Universal Insurance Company Limited(UVIC)	9 ▼ -0.85 (-8.63%)
Noon Sugar / Apr 11 Noon Sugar Mills Limited(NONS)	71.10 ▼ -6.61 (-8.51%)
Masood Textile / Apr 11 Masood Textile Mills Limited(MSOT)	52 ▼ -4.8 (-8.45%)
Leather Up Ltd. / Apr 11 Leather Up Limited(LEUL)	26 ▼ -2.29 (-8.09%)
Nimir Resins / Apr 11 Nimir Resins Limited(NRSL)	32.50 ▼ -2.85 (-8.06%)
Chashma / Apr 11 Chashma Sugar Mills Limited(CHAS)	59.02 ▼ -4.97 (-7.77%)
EFU General / Apr 11 EFU General Insurance Limited(EFUG)	116 ▼ -8.45 (-6.79%)

Stock	Volume
Cnergyico PK / Apr 11 Cnergyico PK Limited(CNERGY)	86,573,180 ▼ -0.07
K-Electric Ltd. / Apr 11 K-Electric Limited(KEL)	57,922,646 ▲ 0.02
Sui South Gas / Apr 11 Sui Southern Gas Company Limited(SSGC)	44,734,661 ▲ 0.52
Pak Elektron / Apr 11 Pak Elektron Limited(PAEL)	40,461,763 ▲ 2.13
Pak Int.Bulk / Apr 11 Pakistan International Bulk Terminal(PIBTL)	37,973,873 ▼ -0.34
B.O.Punjab / Apr 11 The Bank of Punjab(BOP)	33,069,655 ▲ 0.54
Citi Pharma Ltd / Apr 11 Citi Pharma Limited(CPHL)	25,314,966 ▲ 2.71
Maple Leaf Cement / Apr 11 Maple Leaf Cement Factory Limited(MLCF)	21,075,820 ▲ 0.24
Fauji Cement / Apr 11 Fauji Cement Company Limited(FCCL)	19,242,425 ▼ -0.65
WorldCall Telecom / Apr 11 Worldcall Telecom Limited(WTL)	16,890,477 ▼ -0.01

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