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Print - 2005-03-07
Badla investment declines

Badla investment declines

Despite increase in equities prices the badla investment declined last week because of investors focused on futures market, but the badla rates remained glued to 18 percent which showed that investors were facing difficulties to get funds for their carryo
Published 07 Mar, 2005 12:00am
ISE witnesses extraordinary bullish rally

ISE witnesses extraordinary bullish rally

Islamabad Stock Exchange (ISE) witnessed extraordinary bullish rally last week where small and medium investors of Islamabad and Rawalpindi injected fresh investment in all leading sectors. ISE Network index fluctuated between 14,687.01 and 14,990.71 poin
Published 07 Mar, 2005 12:00am
ISE witnesses extraordinary bullish rally

ISE witnesses extraordinary bullish rally

Islamabad Stock Exchange (ISE) witnessed extraordinary bullish rally last week where small and medium investors of Islamabad and Rawalpindi injected fresh investment in all leading sectors. ISE Network index fluctuated between 14,687.01 and 14,990.71 poin
Published 07 Mar, 2005 12:00am
Futures market sailing at high note

Futures market sailing at high note

The ready future spreads remained wide during last week and the annualised spreads in the Ready Future market were at 47.6 percent on Friday, which showed an increase of 179 basis points compared to spread of 45.9 percent at previous weekend. The main fac
Published 07 Mar, 2005 12:00am
Futures market sailing at high note

Futures market sailing at high note

The ready future spreads remained wide during last week and the annualised spreads in the Ready Future market were at 47.6 percent on Friday, which showed an increase of 179 basis points compared to spread of 45.9 percent at previous weekend. The main fac
Published 07 Mar, 2005 12:00am
OGDC and PTCL lead KSE bull-run

OGDC and PTCL lead KSE bull-run

Last week''s bullish run at Karachi Stock Exchange (KSE) revealed the true picture of the heavy weightage of Oil and Gas Development Co (OGDC), and somewhat of PTCL, where around 90 percent gains made in the index were contributed by these companies alone
Published 07 Mar, 2005 12:00am
OGDC and PTCL lead KSE bull-run

OGDC and PTCL lead KSE bull-run

Last week's bullish run at Karachi Stock Exchange (KSE) revealed the true picture of the heavy weightage of Oil and Gas Development Co (OGDC), and somewhat of PTCL, where around 90 percent gains made in the index were contributed by these companies alone.
Published 07 Mar, 2005 12:00am
OGDC and PTCL lead KSE bull-run

OGDC and PTCL lead KSE bull-run

Last week's bullish run at Karachi Stock Exchange (KSE) revealed the true picture of the heavy weightage of Oil and Gas Development Co (OGDC), and somewhat of PTCL, where around 90 percent gains made in the index were contributed by these companies alone.
Published 07 Mar, 2005 12:00am
Range-bound trading in currency market

Range-bound trading in currency market

Range-bound trading was seen in the currency market last week as the rupee-dollar parity moved slightly on easy supply of US currency, money experts said. In the interbank market, the dollar was mostly traded in a narrow band at Rs 59.34 and Rs 59.35 for
Published 07 Mar, 2005 12:00am
Range-bound trading in currency market

Range-bound trading in currency market

Range-bound trading was seen in the currency market last week as the rupee-dollar parity moved slightly on easy supply of US currency, money experts said. In the interbank market, the dollar was mostly traded in a narrow band at Rs 59.34 and Rs 59.35 for
Published 07 Mar, 2005 12:00am
CBR launches tax net expansion campaign

CBR launches tax net expansion campaign

The Central Board of Revenue (CBR) has launched a fresh campaign to unearth wholesalers and distributors not registered with the sales tax department in Karachi, Lahore and Faisalabad. In this regard, the CBR has issued instructions to all the relevant co
Published 07 Mar, 2005 12:00am
CBR launches tax net expansion campaign

CBR launches tax net expansion campaign

The Central Board of Revenue (CBR) has launched a fresh campaign to unearth wholesalers and distributors not registered with the sales tax department in Karachi, Lahore and Faisalabad. In this regard, the CBR has issued instructions to all the relevant co
Published 07 Mar, 2005 12:00am
Sony Ericsson offers mobile music strategy

Sony Ericsson offers mobile music strategy

Sony Ericsson announces its mobile music strategy for 2005, including the integration of high quality digital music players into stylish mobile phones under the world famous Walkman(r) brand. This will create a compelling consumer proposition capable of r
Published 07 Mar, 2005 12:00am
Compensation for train derailment victims announced

Compensation for train derailment victims announced

The Federal Minister for Railways, Mian Shamim Haider announced a compensation of Rs 100,000 and Rs 50,000 each for dead and injured, respectively due to an de-railing of a bogey of Narowal Fast Passenger train near Ferozwala a day earlier. He announced t
Published 07 Mar, 2005 12:00am
Balochistan panel proposals to be released soon: Shujaat

Balochistan panel proposals to be released soon: Shujaat

Recommendations of the parliamentary committee, which was constituted to resolve constitutional and political crisis in Balochistan, would be released in a few days. PML President and former Prime Minister, Chaudhry Shujaat Hussain disclosed this while ta
Published 07 Mar, 2005 12:00am
Arbab's action reflects partiality: Imtiaz

Arbab's action reflects partiality: Imtiaz

Former Sindh revenue minister, Imtiaz Sheikh has alleged that the Sindh chief minister took the decision of removing him from the ministry before initiating any inquiry and without handing-over a charge sheet to him, which reflects partiality of Arbab Rah
Published 07 Mar, 2005 12:00am
Kalabagh and Bhasha dams imperative: report

Kalabagh and Bhasha dams imperative: report

The Planning Commission in its draft Medium Term Development Framework (MTDF) 2005-10 has declared construction of both Kalabagh and Bhasha dams imperative for the country to meet its future water, energy and growth requirements. Total cost of the 23-hyde
Published 07 Mar, 2005 12:00am
Kalabagh and Bhasha dams imperative: report

Kalabagh and Bhasha dams imperative: report

The Planning Commission in its draft Medium Term Development Framework (MTDF) 2005-10 has declared construction of both Kalabagh and Bhasha dams imperative for the country to meet its future water, energy and growth requirements. Total cost of the 23-hyde
Published 07 Mar, 2005 12:00am
PSMA demand to discontinue duty-free import rejected

PSMA demand to discontinue duty-free import rejected

The government has turned down Pakistan Sugar Mills Association''s (PSMA) demand to discontinue import of raw and refined sugar. Sources said that rising trend in sugar prices was the main cause of rejection of the PSMA case. They said that the government
Published 07 Mar, 2005 12:00am
PSMA demand to discontinue duty-free import rejected

PSMA demand to discontinue duty-free import rejected

The government has turned down Pakistan Sugar Mills Association's (PSMA) demand to discontinue import of raw and refined sugar. Sources said that rising trend in sugar prices was the main cause of rejection of the PSMA case. They said that the government
Published 07 Mar, 2005 12:00am
PSMA demand to discontinue duty-free import rejected

PSMA demand to discontinue duty-free import rejected

The government has turned down Pakistan Sugar Mills Association's (PSMA) demand to discontinue import of raw and refined sugar. Sources said that rising trend in sugar prices was the main cause of rejection of the PSMA case. They said that the government
Published 07 Mar, 2005 12:00am
Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan on Sunday agreed to intensify their co-operation in the fight against terrorism, and vowed to enhance their bilateral trade and economic co-operation. President General Pervez Musharraf and his Uzbek counterpart Islam Karimov told
Published 07 Mar, 2005 12:00am
Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan on Sunday agreed to intensify their co-operation in the fight against terrorism, and vowed to enhance their bilateral trade and economic co-operation. President General Pervez Musharraf and his Uzbek counterpart Islam Karimov told
Published 07 Mar, 2005 12:00am
Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan vow to fight terrorism

Pakistan and Uzbekistan on Sunday agreed to intensify their co-operation in the fight against terrorism, and vowed to enhance their bilateral trade and economic co-operation. President General Pervez Musharraf and his Uzbek counterpart Islam Karimov told
Published 07 Mar, 2005 12:00am
The Weather

The Weather

The weather report on Sunday (March 06) and the forecast for Monday (March 07, 2005).
Published 07 Mar, 2005 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week.(February 28 to March 05, 2005)

Published 07 Mar, 2005 12:00am
Sugar: MIRPURKHAS SUGAR MILLS LIMITED - Year Ended 30-09-2004

Sugar: MIRPURKHAS SUGAR MILLS LIMITED - Year Ended 30-09-2004

During the year under review the company's sales sharply declined despite substantial increase in the output. For this, the directors attributed to two factors drop in the selling price of sugar and non recognition of advance sales to TCP. They emphasised
Published 07 Mar, 2005 12:00am
Sugar: MIRPURKHAS SUGAR MILLS LIMITED - Year Ended 30-09-2004

Sugar: MIRPURKHAS SUGAR MILLS LIMITED - Year Ended 30-09-2004

During the year under review the company's sales sharply declined despite substantial increase in the output. For this, the directors attributed to two factors drop in the selling price of sugar and non recognition of advance sales to TCP. They emphasised
Published 07 Mar, 2005 12:00am
Nepal's security forces destroy Maoist bomb factory

Nepal's security forces destroy Maoist bomb factory

Nepal's security forces have destroyed a bomb-making factory set up by Maoist rebels in southern Nepal which hid a large cache of explosives and more than 2,000 home-made bombs, the army said Sunday. The factory was found Saturday in Devitar village in so
Published 07 Mar, 2005 12:00am
Bush gave CIA expansive interrogation power

Bush gave CIA expansive interrogation power

The Bush administration gave the CIA extensive authority to send terrorism suspects to foreign countries for interrogation just days after the September 11, 2001 attacks on the World Trade Center, The New York Times reported in Sunday editions. Citing cur
Published 07 Mar, 2005 12:00am
Floods warning for southeast Afghanistan

Floods warning for southeast Afghanistan

Afghan and US officials are warning of a potential new disaster with floodwaters expected to hit three south-eastern provinces as snows melt after the worst winter in a decade. Rising waters, swelled by daily rain, have already burst the banks of some riv
Published 07 Mar, 2005 12:00am
Darfur rebels demand army withdrawal before talks

Darfur rebels demand army withdrawal before talks

Darfur rebels will only return to talks with the Sudanese government if the army withdraws from areas it has captured since a cease-fire signed last April, senior rebel leaders said on Sunday. The African Union (AU) says the talks could resume in the Nige
Published 07 Mar, 2005 12:00am
India likely to impose federal rule in Bihar

India likely to impose federal rule in Bihar

India's Congress-led government was expected to impose direct rule in the politically crucial state of Bihar on Sunday, after feuding parties failed to cobble together a majority from an inconclusive state poll. Bihar's governor Buta Singh recommended fed
Published 07 Mar, 2005 12:00am
Women's rights march in Paris remembers hostages in Iraq

Women's rights march in Paris remembers hostages in Iraq

Thousands of women took to the streets of Paris Sunday to march for freedom and equal rights ahead of international women's day, particularly drawing attention to the plight of French journalist Florence Aubenas being held hostage in Iraq. The marchers -
Published 07 Mar, 2005 12:00am
Thousands in Taiwan protest against China law

Thousands in Taiwan protest against China law

Thousands of protesters marched in southern Taiwan on Sunday against China's proposed anti-secession law, which many fear could provide Beijing with a legal basis for attacking the island. The march was organised by the pro-independence Taiwan Solidarity
Published 07 Mar, 2005 12:00am
US intelligence reforms seen posing new dangers

US intelligence reforms seen posing new dangers

Sharing information between intelligence and law enforcement agencies - changes recommended after the September 11, 2001 attacks - could backfire and make the United States more vulnerable to al Qaeda and other enemies, former intelligence officials say.
Published 07 Mar, 2005 12:00am
Schroeder's coalition hit by new visa scandal woes

Schroeder's coalition hit by new visa scandal woes

Chancellor Gerhard Schroeder's coalition suffered a new blow on Sunday over a report that Foreign Minister Joschka Fischer was aware of controversial visa irregularities three years before he put a stop to them. Amid a steep drop in opinion polls due to t
Published 07 Mar, 2005 12:00am
Myanmar releases pro-democracy activist

Myanmar releases pro-democracy activist

Myanmar's military government has released veteran politician and democracy activist U Thu Wai after a short time restricting his movements, a political associates said on Sunday. "The authorities lifted the restrictions imposed on his movements on Thursd
Published 07 Mar, 2005 12:00am
Turkish Cypriot parties agree to form coalition

Turkish Cypriot parties agree to form coalition

Two Turkish Cypriot parties have agreed to form a coalition government following parliamentary elections in the enclave last month, Democrat Party chief Serdar Denktash said on Sunday. The new government is seen as crucial to reviving stalled UN efforts t
Published 07 Mar, 2005 12:00am
China warns US and Japan to keep Taiwan out of military pact

China warns US and Japan to keep Taiwan out of military pact

China warned the United States and Japan against including Taiwan in their military pact Sunday, while also seeking to calm fears that the lifting of an EU arms embargo would lead to an attack against the island. Foreign Minister Li Zhaoxing said Beijing
Published 07 Mar, 2005 12:00am
Russian consumer prices jump 1.2 percent

Russian consumer prices jump 1.2 percent

Consumer prices in Russia jumped 1.2 percent in February from the figure the previous month, the Federal Statistics Service said Sunday. Prices had risen 2.6 percent in January because of a sharp rise in service prices. The figures cast doubt on a target
Published 07 Mar, 2005 12:00am
Singapore faces higher unemployment rate

Singapore faces higher unemployment rate

Singapore's unemployment rate could worsen in the years ahead amid mounting competition as multinationals shift operations to lower-cost countries like China, Prime Minister Lee Hsien Loong said over the weekend. Lee said last week's announcement by Maxto
Published 07 Mar, 2005 12:00am
High energy prices a headwind to US economy: Snow

High energy prices a headwind to US economy: Snow

Energy prices are "way, way too high" and act as a headwind against growth, but the US economy has so far powered through the higher costs, Treasury Secretary John Snow said on Sunday. "These higher energy prices act like a tax on the economy. They are wa
Published 07 Mar, 2005 12:00am
New Saudi Islamic bank stakes claim in boom market

New Saudi Islamic bank stakes claim in boom market

Saudi Arabia's new Islamic bank, Bank AlBilad, will open branches nation-wide in the second half of the year and hopes to launch the kingdom's first Islamic bond in 2006, Chief Executive Officer Azzam Abaalkhail said. Abaalkhail said AlBilad will initiall
Published 07 Mar, 2005 12:00am
New Saudi Islamic bank stakes claim in boom market

New Saudi Islamic bank stakes claim in boom market

Saudi Arabia's new Islamic bank, Bank AlBilad, will open branches nation-wide in the second half of the year and hopes to launch the kingdom's first Islamic bond in 2006, Chief Executive Officer Azzam Abaalkhail said. Abaalkhail said AlBilad will initiall
Published 07 Mar, 2005 12:00am
Opec has no obligation to cool prices, says Tehran

Opec has no obligation to cool prices, says Tehran

Opec does not feel it must cool scorching world oil prices by raising output at its March 16 meeting in Isfahan, Iran's Opec governor said on Sunday. In an interview with the semi-official Fars news agency, Hossein Kazempour Ardebili brought his country's
Published 07 Mar, 2005 12:00am
Thailand's deficits spark wariness

Thailand's deficits spark wariness

The announcement of Thailand's largest current account deficit since before the Asian financial crisis has sparked unease among analysts but they are still largely upbeat about economic prospects this year. Central bank figures released last Monday showed
Published 07 Mar, 2005 12:00am
Iran to privatise state assets worth $1.1 billion this month

Iran to privatise state assets worth $1.1 billion this month

Iran on Sunday offered more than $1.1 billion worth of industrial assets for sale in March, in a second push to privatise lumbering state companies in the current fiscal year, officials said. The shares belong to 51 state enterprises, mostly active in hea
Published 07 Mar, 2005 12:00am
China to overtake India as top vegetable oils buyer

China to overtake India as top vegetable oils buyer

China is very likely to overtake India as the world's biggest edible oils importer within 2 years as Beijing moves to end a quota system and meet its WTO commitments, a leading industry analyst said on Friday. Over the past few years, China has gradually
Published 07 Mar, 2005 12:00am
Brown rules out budget spree, focuses on jobs

Brown rules out budget spree, focuses on jobs

British Chancellor of the Exchequer Gordon Brown ruled out on Sunday vote-winning giveaways in his forthcoming budget and made job creation his first goal for a third term in power. "The budget will lock in our commitment to monetary vigilance and fiscal
Published 07 Mar, 2005 12:00am
IMF warns of excess reliance on US and China growth

IMF warns of excess reliance on US and China growth

The International Monetary Fund will is concerned about "risks" to the world economy because growth is currently so heavily dependent on the United States and China, a Germany newspaper reported on Sunday. "Global growth is to an inappropriate degree link
Published 07 Mar, 2005 12:00am
Hong Kong's economy grew by over 8 percent

Hong Kong's economy grew by over 8 percent

Hong Kong Chief Executive Tung Chee-hwa said on Sunday that the city's economy grew by more than 8 percent in 2004. Tung made his comments in front of journalists as he began a meeting with Chinese Premier Wen Jiabao in Beijing, but neither man made refer
Published 07 Mar, 2005 12:00am
Fair trade movement adds cotton to its French list

Fair trade movement adds cotton to its French list

Building on the success of its fair-trade label for food, plants and flowers, the Max Havelaar Foundation will certify cotton in France, aiming to eventually cover the entire sector to finished products. The "guaranteed equitable cotton" label on a pair o
Published 07 Mar, 2005 12:00am
EU eyes accord to renew battered budget rule book

EU eyes accord to renew battered budget rule book

The European Union hopes to hammer out the main points of a revised budget rule book this week, 16 months after it was left in tatters by EU heavyweight states bent on reviving their ailing economies. EU finance ministers meet from Monday evening striving
Published 07 Mar, 2005 12:00am
Herbal extract as effective as widely-used anti-depressant

Herbal extract as effective as widely-used anti-depressant

An extract of the herb St. John's Wort is at least as effective in treating depression as the commonly-prescribed drug Paxil and has fewer side effects, according to a study published on 27 February German doctors carried out tests among 251 outpatients a
Published 07 Mar, 2005 12:00am
AIDS virus element discovered

AIDS virus element discovered

US scientists announced on February 23 the discovery of a key element in the workings of HIV, the virus which causes AIDS, which could eventually lead to the creation of effective vaccines against the virus. The discovery, presented at the 12th annual Con
Published 07 Mar, 2005 12:00am
Promotion of rational use of blood emphasised

Promotion of rational use of blood emphasised

Hospital Transfusion Committees (HTCs) should be set up to promote rational use of blood and clinicians should also promote blood component therapy to avoid the risk of transmittable disease and unnecessary load on supply of blood products. This was stres
Published 07 Mar, 2005 12:00am
Lead in environment causing violent crime

Lead in environment causing violent crime

Lead left in paint, water, soil and elsewhere may not only be affecting children's intelligence but may cause a significant proportion of violent crime, a US researcher argued on 25 February.
Published 07 Mar, 2005 12:00am
Asia on track to halt polio by year-end: WHO

Asia on track to halt polio by year-end: WHO

India, Pakistan and Afghanistan, the last three Asian countries where polio is endemic, are on track to halt its spread by year-end after halving cases in 2004, the World Health Organisation (WHO) said on 27 February. The number of cases of the paralysing
Published 07 Mar, 2005 12:00am
Need to set up emergency health resource system

Need to set up emergency health resource system

There is an urgent need to set up emergency health resource system at all cities of Pakistan. And government and NGOs should join hands for relief work as thousands of people die every year due to non-provision of first aid. This was stated by Head, Life
Published 07 Mar, 2005 12:00am
Salt should be regulated food additive

Salt should be regulated food additive

A consumer group sued the federal government on February 24, saying that salt is killing tens of thousands of Americans and that regulators have done too little to control salt in food. Despite advisories to take it easy on sodium, Americans are now consu
Published 07 Mar, 2005 12:00am
Good ecological sense starts at home: World Bank

Good ecological sense starts at home: World Bank

In a bid to set a prime example of what it preaches, the World Bank, priding itself on environmentally sensitive development projects, plans to source all the power for its glitzy headquarters here from renewable energy sources. "Next year all of our cons
Published 07 Mar, 2005 12:00am
HEALTH UPDATE: alcohol, tobacco pose equal burden on health

HEALTH UPDATE: alcohol, tobacco pose equal burden on health

When it comes to causing death and disability, alcoholic drinks are as bad as tobacco and high blood pressure. Alcohol is linked to more than 60 different medical conditions, including oral, liver and breast cancers, heart disease, stroke and cirrhosis. I
Published 07 Mar, 2005 12:00am
HEALTH UPDATE: stem cell offers hope to paralysed

HEALTH UPDATE: stem cell offers hope to paralysed

An experimental stem cell treatment, currently only performed at an ageing public hospital in Portugal, is raising hopes that thousands left paralysed by accidents will once again be able to walk. The procedure involves the removal of tissue from a patien
Published 07 Mar, 2005 12:00am
HEALTH UPDATE: rich diet lowers cholesterol

HEALTH UPDATE: rich diet lowers cholesterol

A diet rich in fiber and vegetables lowered cholesterol just as much as taking a statin drug, Canadian researchers reported. They said people who cannot tolerate the statin drugs because of side-effects can turn to the diet, which they said their voluntee
Published 07 Mar, 2005 12:00am
HEALTH UPDATE: use of antidepressant in pregnancy may harm baby

HEALTH UPDATE: use of antidepressant in pregnancy may harm baby

Newborn babies could be at risk of suffering withdrawal symptoms if their mothers are prescribed antidepressants during pregnancy, researchers said. The drugs known as selective reuptake inhibitors (SSRIs) can cause convulsions, irritability, abnormal cry
Published 07 Mar, 2005 12:00am
HEALTH UPDATE: leprosy cases decline

HEALTH UPDATE: leprosy cases decline

Leprosy cases have declined over the past two decades but much is still needed to be done to help those suffering in silence because of the stigma, the World Health Organisation (WHO) said. Anarfi Asamoah-Baah, WHO assistant director-general for communica
Published 07 Mar, 2005 12:00am
Four more banks settle WorldCom shareholder suit

Four more banks settle WorldCom shareholder suit

Four more investment banks agreed to pay a combined $100.3 million to settle a lawsuit accusing them of hiding risks from WorldCom Inc investors when they helped the phone company sell bonds, the lead plaintiff in the case said on Friday. Lehman Brothers
Published 07 Mar, 2005 12:00am
Four more banks settle WorldCom shareholder suit

Four more banks settle WorldCom shareholder suit

Four more investment banks agreed to pay a combined $100.3 million to settle a lawsuit accusing them of hiding risks from WorldCom Inc investors when they helped the phone company sell bonds, the lead plaintiff in the case said on Friday. Lehman Brothers
Published 07 Mar, 2005 12:00am
Infosys plans new Bangalore campus

Infosys plans new Bangalore campus

Infosys Technologies Ltd, India's No 2 software services exporter, is planning a new campus in Bangalore as it hires by the thousands to feed an outsourcing boom, officials said on Thursday. "Infosys has requested the government for 300 acres (121.4 hecta
Published 07 Mar, 2005 12:00am
Nokia minds its finances, open to big deals

Nokia minds its finances, open to big deals

Mobile phone maker Nokia, which boasts of one of the strongest balance sheets in the world of high tech, would be prepared to take on more risk to finance potential mergers, a top executive said on Wednesday. "We've always wanted to make sure that we have
Published 07 Mar, 2005 12:00am
Nokia minds its finances, open to big deals

Nokia minds its finances, open to big deals

Mobile phone maker Nokia, which boasts of one of the strongest balance sheets in the world of high tech, would be prepared to take on more risk to finance potential mergers, a top executive said on Wednesday. "We've always wanted to make sure that we have
Published 07 Mar, 2005 12:00am
China targets 'around 8 percent' economic growth in 2005

China targets 'around 8 percent' economic growth in 2005

China will target economic growth of "around eight percent" this year, according to the text of a speech Premier Wen Jiabao will deliver to the national legislature on Saturday. China will target "growth around eight percent, nine million new jobs for urb
Published 07 Mar, 2005 12:00am
China lets global agencies issue maiden yuan bonds

China lets global agencies issue maiden yuan bonds

China has issued new rules to allow qualified international agencies to issue yuan-denominated bonds for the first time, the central bank said on Tuesday. Global agencies from the Asian Development Bank to the International Finance Corp are seeking approv
Published 07 Mar, 2005 12:00am
China lets global agencies issue maiden yuan bonds

China lets global agencies issue maiden yuan bonds

China has issued new rules to allow qualified international agencies to issue yuan-denominated bonds for the first time, the central bank said on Tuesday. Global agencies from the Asian Development Bank to the International Finance Corp are seeking approv
Published 07 Mar, 2005 12:00am
Napster boosts revenue outlook

Napster boosts revenue outlook

Napster, the online music subscription service that competes with Apple Computer Inc's iTunes music store, on Thursday boosted its sales outlook, lifting its shares 9 percent. Los Angeles-based Napster said it expects revenue of about $15 million for its
Published 07 Mar, 2005 12:00am
Napster boosts revenue outlook

Napster boosts revenue outlook

Napster, the online music subscription service that competes with Apple Computer Inc's iTunes music store, on Thursday boosted its sales outlook, lifting its shares 9 percent. Los Angeles-based Napster said it expects revenue of about $15 million for its
Published 07 Mar, 2005 12:00am
Fedex to decide on Asia hub by year-end

Fedex to decide on Asia hub by year-end

FedEx, the world's top air express shipper, will decide whether to set up a new Asian cargo hub in China by the end of 2005 after launching its first direct connection between Europe and the mainland. Such a hub would help the US-based FedEx Corp cement i
Published 07 Mar, 2005 12:00am
Japan's J-Com to raise up to $1 billion in IPO

Japan's J-Com to raise up to $1 billion in IPO

Japan's biggest cable television company, Jupiter Telecommunications Co Ltd, said on Thursday its planned share flotation would raise up to $1 billion, making it the country's biggest share offering so far this year. At the top of the tentative price rang
Published 07 Mar, 2005 12:00am
Japan's J-Com to raise up to $1 billion in IPO

Japan's J-Com to raise up to $1 billion in IPO

Japan's biggest cable television company, Jupiter Telecommunications Co Ltd, said on Thursday its planned share flotation would raise up to $1 billion, making it the country's biggest share offering so far this year. At the top of the tentative price rang
Published 07 Mar, 2005 12:00am
Bank of America in $460.5 million WorldCom settlement

Bank of America in $460.5 million WorldCom settlement

Bank of America Corp on Thursday agreed to pay $460.5 million to settle a lawsuit accusing it of hiding risks from WorldCom Inc investors when it helped the phone company sell billions of dollars of bonds. The settlement is the second in a class-action la
Published 07 Mar, 2005 12:00am
Bank of America in $460.5 million WorldCom settlement

Bank of America in $460.5 million WorldCom settlement

Bank of America Corp on Thursday agreed to pay $460.5 million to settle a lawsuit accusing it of hiding risks from WorldCom Inc investors when it helped the phone company sell billions of dollars of bonds. The settlement is the second in a class-action la
Published 07 Mar, 2005 12:00am
AIG China fund joint venture to launch first fund

AIG China fund joint venture to launch first fund

The China joint venture asset management arm of AIG, the world's most valuable insurer, said it would begin selling its first fund next week, its maiden foray into the country's booming mutual funds sector. The fund would be marketed to domestic investors
Published 07 Mar, 2005 12:00am
AIG China fund joint venture to launch first fund

AIG China fund joint venture to launch first fund

The China joint venture asset management arm of AIG, the world's most valuable insurer, said it would begin selling its first fund next week, its maiden foray into the country's booming mutual funds sector. The fund would be marketed to domestic investors
Published 07 Mar, 2005 12:00am
Yukos to appeal US case dismissal to higher court

Yukos to appeal US case dismissal to higher court

Embattled Russian oil company YUKOS on Thursday filed notice that it would appeal to a higher court to overturn a bankruptcy judge's dismissal of its US bankruptcy case. The case will now go before a US District Court Judge in Houston. No date has been se
Published 07 Mar, 2005 12:00am
Global microchip sales strong

Global microchip sales strong

Global microchip sales were strong in January, rising a better-than-expected 17.5 percent from a year earlier and falling only slightly from December, the Semiconductor Industry Association said on Thursday. The SIA called the results encouraging. January
Published 07 Mar, 2005 12:00am
Yahoo folding Overture Services

Yahoo folding Overture Services

Internet media company Yahoo Inc on Tuesday said it would rename its Overture Web search advertising subsidiary under the main company brand. At the same time, Yahoo will launch a new US Advertising Solutions Center, where businesses can purchase search a
Published 07 Mar, 2005 12:00am
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