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Print - 2005-04-24
Brazil's coffee crop forecast revised up

Brazil's coffee crop forecast revised up

Brazil's 2005/06 (July/June) coffee crop forecast was revised up slightly to 32.46 million 60-kg bags from the 31.87 million bags estimated in December, the agriculture ministry said Friday. Coffee output totalled 38.6 million bags in 2004/05. In the seco
Published 24 Apr, 2005 12:00am
Wheat futures down

Wheat futures down

Wheat futures at the Chicago Board of Trade closed lower on Friday amid spillover pressure from a late break in soy and on slow exports, traders said. "It looked to me like wheat moved to the lows when beans broke down near the close," a pit source said.
Published 24 Apr, 2005 12:00am
Lower offer rates disappoint TCP

Lower offer rates disappoint TCP

Thin business witnessed on the cotton market on Saturday as market players were on the sidelines in the process of trading, dealers said. The official spot rates remained unchanged at Rs 2225, without upcountry expenses. The cotton prices were within the
Published 24 Apr, 2005 12:00am
Kenya sees better coffee price

Kenya sees better coffee price

Kenya could earn 50 percent more for its coffee through direct sales than from auction, currently the sole export route, a leading tea and coffee firm said on Friday. For almost 70 years all Kenyan coffee has been sold in a central auction established in
Published 24 Apr, 2005 12:00am
Tea prices down

Tea prices down

The trading on tea sector moved downward here on Jodia Bazar on Saturday. The following changes were seen in the Kenya tea PF-1 A grade down Rs 2 to Rs 165, B grade down Rs 4 to Rs 148, plus C grade down Rs 3 to Rs 133 and Bangladesh Khushbu down Rs 2 to
Published 24 Apr, 2005 12:00am
WTO gives mixed ruling in South Korea-EU ships row

WTO gives mixed ruling in South Korea-EU ships row

The World Trade Organisation (WTO) issued a mixed ruling on Friday on a complaint by South Korea that the European Union gave illegal support to shipbuilders. A panel of trade experts rejected much of the South Korean case, which was launched after Brusse
Published 24 Apr, 2005 12:00am
Siemens talking to Nortel on mobile phones

Siemens talking to Nortel on mobile phones

German engineering conglomerate Siemens is in talks with Canada's Nortel Networks Corp over a link-up with Siemens' ailing mobile phones unit, a German magazine reported on Saturday. News weekly Der Spiegel quoted Siemens sources as saying the company was
Published 24 Apr, 2005 12:00am
Most Russians mistrust 90s privatisations: Putin

Most Russians mistrust 90s privatisations: Putin

The majority of Russians believe major privatisations carried out in the 1990s were questionable, Russian President Vladimir Putin said in remarks published on Friday. Putin did not say if he shared that view. He was responding to a question about Mikhail
Published 24 Apr, 2005 12:00am
UAE plans let foreigners be majority owners

UAE plans let foreigners be majority owners

The United Arab Emirates plans to allow foreigners to own a majority stake in firms in the Gulf Arab state, the economy minister said on Saturday. At present, foreign investors can hold up to 49 percent of a company registered in the country and can own o
Published 24 Apr, 2005 12:00am
UK economy slows in first quarter

UK economy slows in first quarter

The British economy slowed to its weakest annual pace of growth in more than a year in the first quarter of 2005 as industrial output contracted for the third quarter in a row, official data showed on Friday. The Office for National Statistics said gross
Published 24 Apr, 2005 12:00am
UAL reaches pact to terminate employee pensions

UAL reaches pact to terminate employee pensions

Bankrupt United Airlines reached an agreement with US pension insurers on Friday to terminate four employee retirement plans which are underfunded by nearly $10 billion. Under the deal, which requires court approval, the federal Pension Benefit Guaranty C
Published 24 Apr, 2005 12:00am
Nasdaq and Instinet seal $1.88 billion deal

Nasdaq and Instinet seal $1.88 billion deal

The Nasdaq Stock Market Inc and a consortium of investors on Friday agreed to purchase Instinet Group Inc for $1.88 billion cash in a move that will intensify the already heated rivalry between the New York Stock Exchange and Nasdaq. The deal underscores
Published 24 Apr, 2005 12:00am
Google flirts with highs after profit report

Google flirts with highs after profit report

Shares of Google Inc flirted with new highs on Friday after the Web search leader's quarterly results showed more of the dramatic advertising growth that has made it a Wall Street darling. Google said on Thursday its first-quarter gross revenue nearly dou
Published 24 Apr, 2005 12:00am
Google flirts with highs after profit report

Google flirts with highs after profit report

Shares of Google Inc flirted with new highs on Friday after the Web search leader's quarterly results showed more of the dramatic advertising growth that has made it a Wall Street darling. Google said on Thursday its first-quarter gross revenue nearly dou
Published 24 Apr, 2005 12:00am
Washington close to deal with Riyadh on WTO

Washington close to deal with Riyadh on WTO

The United States is close to reaching an agreement with Saudi Arabia on tariff cuts that the kingdom needs to make to join the World Trade Organisation, a top US trade official said in a letter obtained on Friday. "We are close to finalising our agreemen
Published 24 Apr, 2005 12:00am
Ericsson posts strong earnings

Ericsson posts strong earnings

Ericsson, the world's largest telecoms equipment maker, posted stronger than expected first-quarter earnings on Friday, adding to optimism in the tech sector after Nokia also surprised positively the day before. But the Swedish company, whose base station
Published 24 Apr, 2005 12:00am
Ericsson posts strong earnings

Ericsson posts strong earnings

Ericsson, the world's largest telecoms equipment maker, posted stronger than expected first-quarter earnings on Friday, adding to optimism in the tech sector after Nokia also surprised positively the day before. But the Swedish company, whose base station
Published 24 Apr, 2005 12:00am
Microsoft sued over JPEG patent

Microsoft sued over JPEG patent

Forgent Networks, owner of the technology behind the JPEG digital video file format, sued Microsoft Corp for infringing on its patent, the smaller software company said on Friday. The lawsuit, filed in US District Court in Eastern Texas on Thursday by For
Published 24 Apr, 2005 12:00am
Stanchart eyes more branches in China

Stanchart eyes more branches in China

Asia-focused bank Standard Chartered Plc. will use a stake in a new Chinese bank to open dozens more branches in the fast-growing market and it is seeking further acquisitions, a senior executive said on Saturday. Tianjin-based Bohai Bank, in which Standa
Published 24 Apr, 2005 12:00am
Iran wants parts, not whole of MG Rover: carmakers

Iran wants parts, not whole of MG Rover: carmakers

Iran is looking to strip assets from Britain's collapsed automaker MG Rover rather than buying it, two Iranian state-owned carmakers said on Saturday. The 100-year-old carmaker, which once made the iconic Mini and the Land Rover, stopped production after
Published 24 Apr, 2005 12:00am
US lawmakers criticise SEC over fund failures

US lawmakers criticise SEC over fund failures

US lawmakers criticised the US Securities and Exchange Commission on Friday for failing to find trading abuses in the mutual fund industry before September 2003 in scandals that cost shareholders billions of dollars. The criticism accompanied the results
Published 24 Apr, 2005 12:00am
'China not responsible for energy crunch'

'China not responsible for energy crunch'

China's fast-growing economy is largely self-reliant in energy and is not to blame for a crunch in world energy supplies, the country's top state planner said on Saturday. Some have pointed to rising demand from China as a contributor to high oil prices b
Published 24 Apr, 2005 12:00am
Chile stocks fall

Chile stocks fall

Chile stocks fell on Friday as investors punished companies with disappointing earnings, but rewarded a few that had shown good results. The IPSA index of 40 leading issues slipped 0.38 percent to 1,982.20 points while the broader IGPA index fell 0.22 per
Published 24 Apr, 2005 12:00am
Mexican stocks drop as Wall Street losses weigh

Mexican stocks drop as Wall Street losses weigh

Mexican stocks ended lower on Friday, hurt by losses on Wall Street, as investors sold shares in cement maker Cemex despite a healthy earnings report. The IPC benchmark stock index lost 0.57 percent to 11.995.32 points, while the Dow Jones industrial aver
Published 24 Apr, 2005 12:00am
Canadian bonds end mixed after CPI data

Canadian bonds end mixed after CPI data

The inflation data, falling stock markets and firmer US Treasuries all contributed to a mixed tone for Canadian bond prices on Friday. While the CPI data seemed to increase the risk of a rate hike coming sooner than foreseen, analysts said the figures wer
Published 24 Apr, 2005 12:00am
Canadian bonds end mixed after CPI data

Canadian bonds end mixed after CPI data

The inflation data, falling stock markets and firmer US Treasuries all contributed to a mixed tone for Canadian bond prices on Friday. While the CPI data seemed to increase the risk of a rate hike coming sooner than foreseen, analysts said the figures wer
Published 24 Apr, 2005 12:00am
US corporate bonds widen on credit concerns

US corporate bonds widen on credit concerns

High-grade spreads edged out and junk bond prices slipped in the US corporate bond market on Friday on the general view that yield premiums will continue to rise to adjust for faltering credit conditions. "The rate of positive news in the corporate market
Published 24 Apr, 2005 12:00am
US corporate bonds widen on credit concerns

US corporate bonds widen on credit concerns

High-grade spreads edged out and junk bond prices slipped in the US corporate bond market on Friday on the general view that yield premiums will continue to rise to adjust for faltering credit conditions. "The rate of positive news in the corporate market
Published 24 Apr, 2005 12:00am
Investor jitters drag Toronto stocks lower

Investor jitters drag Toronto stocks lower

Toronto stocks fell across the board to end lower on Friday as concerns about higher interest rates and political uncertainty overshadowed buoyant commodity prices, which normally would have supported the market. The Toronto Stock Exchange's S&P/TSX compo
Published 24 Apr, 2005 12:00am
Prestwick files for $74.75 million IPO

Prestwick files for $74.75 million IPO

Prestwick Pharmaceuticals Inc, whose drug products target chronic diseases of the central nervous system, said on Friday it is seeking to go public in an initial stock offering. The Washington, D.C.-based company, in a preliminary offering document filed
Published 24 Apr, 2005 12:00am
Prestwick files for $74.75 million IPO

Prestwick files for $74.75 million IPO

Prestwick Pharmaceuticals Inc, whose drug products target chronic diseases of the central nervous system, said on Friday it is seeking to go public in an initial stock offering. The Washington, D.C.-based company, in a preliminary offering document filed
Published 24 Apr, 2005 12:00am
American credit market outlook

American credit market outlook

Maytag Corp reported its earnings on Friday, and it is not clear if the company's problems will come out in the wash. The company reported an 80 percent plunge in quarterly profit, and halved its full year outlook. Its sales fell last quarter, and steel a
Published 24 Apr, 2005 12:00am
American credit market outlook

American credit market outlook

Maytag Corp reported its earnings on Friday, and it is not clear if the company's problems will come out in the wash. The company reported an 80 percent plunge in quarterly profit, and halved its full year outlook. Its sales fell last quarter, and steel a
Published 24 Apr, 2005 12:00am
Looking back on an auction-style IPO

Looking back on an auction-style IPO

As investment research firm Morningstar Inc prepares to launch the first high-profile auction-based IPO since Google Inc's deal last year, the chief of one company that pulled out of that route said he's not surprised auctions haven't found more followers
Published 24 Apr, 2005 12:00am
Looking back on an auction-style IPO

Looking back on an auction-style IPO

As investment research firm Morningstar Inc prepares to launch the first high-profile auction-based IPO since Google Inc's deal last year, the chief of one company that pulled out of that route said he's not surprised auctions haven't found more followers
Published 24 Apr, 2005 12:00am
Argentine stocks flat

Argentine stocks flat

Argentine stocks closed unchanged on Friday, resisting declines in major markets due to optimism over an upcoming US court ruling that could clear the way for the country's debt swap, traders said. The MerVal index of the 11 leading stocks ended steady at
Published 24 Apr, 2005 12:00am
Brazilian stocks decline

Brazilian stocks decline

Brazil's unexpected decision to raise interest rates this week strengthened its currency on Friday, but contributed to the decline of stocks, which also tracked Wall Street downward. The central bank's Monetary Policy Committee, or Copom, raised on Wednes
Published 24 Apr, 2005 12:00am
Treasury prices rally

Treasury prices rally

US Treasury debt prices rebounded on Friday as a depressed stock market and talk of a possible nuclear test from North Korea bolstered safe-haven bonds. Treasuries had already performed surprisingly well given Thursday's solid batch on economic data, but
Published 24 Apr, 2005 12:00am
Treasury prices rally

Treasury prices rally

US Treasury debt prices rebounded on Friday as a depressed stock market and talk of a possible nuclear test from North Korea bolstered safe-haven bonds. Treasuries had already performed surprisingly well given Thursday's solid batch on economic data, but
Published 24 Apr, 2005 12:00am
Singapore Metro accepts Suntec S$87 million bond offer

Singapore Metro accepts Suntec S$87 million bond offer

Singapore retailer Metro Holdings Ltd has accepted Suntec Real Estate Investment Trust Ltd's offer of S$86.7 million ($53 million) of its bonds in a top Singapore shopping mall, sources close to the deal said on Friday. The move potentially allows Suntec
Published 24 Apr, 2005 12:00am
Singapore Metro accepts Suntec S$87 million bond offer

Singapore Metro accepts Suntec S$87 million bond offer

Singapore retailer Metro Holdings Ltd has accepted Suntec Real Estate Investment Trust Ltd's offer of S$86.7 million ($53 million) of its bonds in a top Singapore shopping mall, sources close to the deal said on Friday. The move potentially allows Suntec
Published 24 Apr, 2005 12:00am
US stocks finish down on oil and earnings

US stocks finish down on oil and earnings

US stocks slid on Friday, as a jump in oil prices, some disappointing earnings news and a report that North Korea could be preparing for a nuclear weapons test gave investors further incentive to sell. Retailer Costco Wholesale Corp and photography icon E
Published 24 Apr, 2005 12:00am
Malaysia sees higher inflation

Malaysia sees higher inflation

Inflation in Malaysia is expected to double this year to 2.5-3.0 percent but there is no need to raise interest rates, Malaysian economic planning minister Mustapa Mohamed said on Saturday. The inflation outlook is higher than the central bank's previousl
Published 24 Apr, 2005 12:00am
FX platform Hotspot sees volume rising 150 percent

FX platform Hotspot sees volume rising 150 percent

Hotspot FXi Inc, which runs an online currency trading platform, said on Friday its volume was likely to surge 150 percent this year, as in 2004, as more hedge funds use its terminals for spot transactions. New Jersey-based Hotspot has added the Singapore
Published 24 Apr, 2005 12:00am
IMM speculators' net long dollar position near one-year high

IMM speculators' net long dollar position near one-year high

Currency speculators extended their net long dollar position on the International Monetary Market in the latest week to the largest level since May of last year, data released on Friday showed. Speculators' bets on the dollar against major world currencie
Published 24 Apr, 2005 12:00am
Dollar hits one-month low versus yen on China talk

Dollar hits one-month low versus yen on China talk

The dollar fell to a one-month low against the Japanese yen on Friday amid growing speculation that China could soon revalue the yuan, a move expected to lift other Asian currencies. The Japanese yen has been bolstered since Thursday by comments from Fede
Published 24 Apr, 2005 12:00am
Indian foreign exchange reserves rise

Indian foreign exchange reserves rise

India's foreign exchange reserves rose to $141.55 billion on April 15, from $141.46 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Saturday. The central bank said foreign currency assets expressed in US doll
Published 24 Apr, 2005 12:00am
Chinese yuan adjustment seen increasing

Chinese yuan adjustment seen increasing

China's uphill battle to tame its fast-growing economy and curb capital inflows has raised the chances of a long-awaited yuan change this year, but rising US pressure may prove counter-productive. First-quarter economic growth was a faster-than-expected 9
Published 24 Apr, 2005 12:00am
Brazil real rises

Brazil real rises

Brazil's currency strengthened Friday after the central bank unexpectedly raised interest rates on Wednesday, while stocks returned from a one-day break to catch up with a Wall Street rally. The central bank surprised many economists when it hiked its hik
Published 24 Apr, 2005 12:00am
Canadian dollar scores

Canadian dollar scores

The Canadian dollar finished higher against the US currency for a second straight session on Friday, while bonds were mixed, after a report showed March core inflation quickened and spurred interest-rate speculation. At the end of a volatile week in which
Published 24 Apr, 2005 12:00am
Singh chasing Aussie in defence of PGA crown

Singh chasing Aussie in defence of PGA crown

Defending champion Vijay Singh, fresh off induction into the World Golf Hall of Fame, is confident despite a one-stroke deficit entering the third round of the five million-dollar PGA Houston Open. The 42-year-old Fijian, who won his 25th US PGA crown in
Published 24 Apr, 2005 12:00am
Six-under Scott tightens grip on Johnnie Walker Classic

Six-under Scott tightens grip on Johnnie Walker Classic

Australia's Adam Scott blazed a six-under-par second round to tighten his grip on the Johnnie Walker Classic golf tournament on Saturday. The world number 10 followed up his course-record first round of 63 with another belter, knocking in seven birdies ag
Published 24 Apr, 2005 12:00am
Spanish duo Ferrero, Nadal surge into semi-finals

Spanish duo Ferrero, Nadal surge into semi-finals

Spanish standouts Juan Carlos Ferrero and young gun Rafael Nadal took vastly contrasting paths into the semi-finals of the 850,000-euro Barcelona Open here on Friday. The revitalised Ferrero's 6-4, 4-6, 6-3 win over reigning Roland Garros holder Gaston Ga
Published 24 Apr, 2005 12:00am
Durham sign Astle

Durham sign Astle

English county Durham have signed New Zealand all-rounder Nathan Astle to replace captain Mike Hussey on a short-term contract while the Australian is on international duty this summer. Astle, who has previously played for Nottinghamshire and Derbyshire,
Published 24 Apr, 2005 12:00am
Flintoff set for weekend return as batsman

Flintoff set for weekend return as batsman

England all-rounder Andrew Flintoff remains on target to make his comeback from injury in Lancashire's League match against Middlesex at Lord's this weekend. The England all-rounder, widely regarded as vital to the Test side's hopes of ending a run of eig
Published 24 Apr, 2005 12:00am
Agassi, Haas ousted in ATP quarter-finals

Agassi, Haas ousted in ATP quarter-finals

Second seed Andre Agassi and defending champion Tommy Haas were upset in the quarter-finals of the 380,000-dollar ATP US Clay Court Championships here on Friday while top seed Andy Roddick advanced. French sixth seed Sebastien Grosjean advanced by ousting
Published 24 Apr, 2005 12:00am
Smith and de Villiers put South Africa in cruise mode

Smith and de Villiers put South Africa in cruise mode

Hundreds from captain Graeme Smith and fellow- opener Abraham de Villiers put South Africa in a strong position in the third Test against West Indies on Friday. De Villiers was undefeated on 122 and Smith was dismissed for 104 to lead South Africa to 253
Published 24 Apr, 2005 12:00am
Respect ethics, seek truth, new Pope tells media

Respect ethics, seek truth, new Pope tells media

Pope Benedict on Saturday reminded journalists in four languages of their responsibility to seek the truth and defend human dignity and pledged to have a papacy as open to the media as his predecessor. In a sign of how important communication will be to h
Published 24 Apr, 2005 12:00am
Moussaoui pleads guilty

Moussaoui pleads guilty

Zacarias Moussaoui, the only person charged in the United States in connection with the September 11 attacks, pleaded guilty on Friday and said Osama bin Laden handpicked him to fly a plane into the White House as part of a broader conspiracy. Moussaoui,
Published 24 Apr, 2005 12:00am
US clears Sanchez in Abu Ghraib scandal

US clears Sanchez in Abu Ghraib scandal

The Army has exonerated Lieutenant General Ricardo Sanchez, the former top US commander in Iraq, of wrongdoing in the Abu Ghraib prisoner abuse scandal, but relieved another general of her command amid evidence of dereliction of duty, defence officials sa
Published 24 Apr, 2005 12:00am
Vietnam sentences Australian to death

Vietnam sentences Australian to death

A court in Vietnam has sentenced an Australian man of Vietnamese origin to death by firing squad and two Vietnamese women to life in jail for trafficking heroin, state media reported on Saturday. The Tuoi Tre newspaper said the man, 45-year-old Nguyen Van
Published 24 Apr, 2005 12:00am
Berlusconi returns to power with new government

Berlusconi returns to power with new government

Italian Prime Minister Silvio Berlusconi resolved a bruising row with his coalition partners on Saturday and named a new government tasked with reviving the sluggish economy ahead of next year's general elections. The cabinet will be sworn into office lat
Published 24 Apr, 2005 12:00am
22 killed as Indian truck skids off road

22 killed as Indian truck skids off road

A truck crowded with religious followers skidded off a road and overturned as it rounded a bend in central India on Saturday, killing at least 22 people, police said. "So far 22 bodies have been recovered and the injured have been taken to hospital," poli
Published 24 Apr, 2005 12:00am
Ecuadoreans rebelled by radio, e-mail and text

Ecuadoreans rebelled by radio, e-mail and text

Fed up with politicians, Ecuadoreans turned to local radio, text messages and the Internet to whip up a street rebellion this week that helped push their president Lucio Gutierrez out of office. Gutierrez, a former army officer elected in late 2002, was w
Published 24 Apr, 2005 12:00am
Two Koreas meet; no breakthrough

Two Koreas meet; no breakthrough

North and South Korea discussed the stalled six-party talks on Pyongyang's nuclear plans in Jakarta on Saturday, but there was no breakthrough on the impasse. It was the second high-level meeting between the two sides after their first such contact in fiv
Published 24 Apr, 2005 12:00am
China and Japan leaders agree to rescue ties

China and Japan leaders agree to rescue ties

The leaders of China and Japan agreed to mend ruptured ties during ice-breaking talks in Jakarta on Saturday, although Chinese President Hu Jintao said Japan needed to learn from its wartime past. The talks came a day after Prime Minister Junichiro Koizum
Published 24 Apr, 2005 12:00am
Rs 20 billion being spent on Lahore roads

Rs 20 billion being spent on Lahore roads

District Nazim Lahore, Mian Amer Mahmood has said that an amount of Rs 20 billion is being spent on construction of various roads including Ring Road in the provincial metropolis. While addressing the foundation stone laying ceremony of Government Girls D
Published 24 Apr, 2005 12:00am
Forest policy to be announced in two months

Forest policy to be announced in two months

Government would announce a comprehensive National Forest Policy within next two months, which is a part of the Draft Environment Policy envisaging a safeguard of economic growth and food security in the country. According to an official source, the gover
Published 24 Apr, 2005 12:00am
Eid Milad-un-Nabi celebrated with fervour

Eid Milad-un-Nabi celebrated with fervour

More than 20,000 people including children took part in the procession to mark the Eid Milad-un-Nabi, the birthday of Holy Prophet Muhammad (PBUH) in Multan with religious fervour and solemnity. The main procession of Anjuman Islamia was taken out
Published 24 Apr, 2005 12:00am
PML being reorganised in Punjab: Elahi

PML being reorganised in Punjab: Elahi

Punjab Chief Minister Chaudhry Pervaiz Elahi has said the Pakistan Muslim League government is fully capable and determined to achieve the objectives of socio-economic development. Pervaiz said: "The PML is giving a practical shape to an extensive program
Published 24 Apr, 2005 12:00am
Shaukat performs Chenab bridge groundbreaking

Shaukat performs Chenab bridge groundbreaking

Prime Minister Shaukat Aziz has said that local bodies election would begin in July 2005 and people should exercise their right of vote in favour of those who had strengthened the national economy, executed development schemes and put the country on the t
Published 24 Apr, 2005 12:00am
Qul held

Qul held

Qul of mother of Abdullah Yousuf, Chairman Central Board of Revenue, who passed away on Thursday, (April 21), was held at Jamia Masjid Bilal, Street No 5, CMA Colony Shami Road here on Saturday. Haji Ahmed, Regional Commissioner of Income Tax, Mahboob Saq
Published 24 Apr, 2005 12:00am
LHC benches for this week

LHC benches for this week

As many as 12 division benches and 25 single benches will work at principal seat of the Lahore High Court (LHC) during the week commencing from Monday, April 25. According to a notification, division benches are headed by acting Chief Justice Chaudhry Ija
Published 24 Apr, 2005 12:00am
Tax facilitation camps from April 26

Tax facilitation camps from April 26

Zone-B of Eastern Region will be setting up Tax Facilitation Centres/Camps (TFCs) at Haq Nawaz Road, Baghbanpura and Samanabad, from April 26 to 28, in a bid to facilitate trade and business communities of both areas in tax related matters. These TFCs, wh
Published 24 Apr, 2005 12:00am
Judgement reserved on Babar's plea

Judgement reserved on Babar's plea

An accountability court on Saturday reserved its verdict in a petition filed by Hashim Babar, the co-accused, in a reference against Hakim Ali Zardari father of the PPPP leader Asif Ali Zardari praying his acquittal from the case. The court adjourned the
Published 24 Apr, 2005 12:00am
Zardari to address LHCBA on April 25

Zardari to address LHCBA on April 25

PPPP leader Asif Ali Zardari will be addressing the members of the Lahore High Court Bar Association (LHCBA) on Monday (April 25). The President of the bar, Fakharunisa Khokhar, gave the invitation to this effect to Asif Zardari.
Published 24 Apr, 2005 12:00am
Ban on recruitment in special education removed

Ban on recruitment in special education removed

Punjab Chief Minister Chaudhary Pervaiz Elahi has exempted special educational institutions from the ban on recruitment in the province, which was imposed on March 29, 2005. He took this decision in the larger interest of special education. Provincial Min
Published 24 Apr, 2005 12:00am
Golden jubilee of Bandung Conference

Golden jubilee of Bandung Conference

The Afro-Asian nations met in the Indonesia capital, Jakarta, on Saturday to mark the golden jubilee of the first Afro-Asian conference hosted by Indonesia in April, 1955. In this major international event South Africa has co-operated with Indonesia and b
Published 24 Apr, 2005 12:00am
KESC's lines: a clarification

KESC's lines: a clarification

A news item with the caption "KESC asked to complete transmission lines in SITE" appeared in the Business Recorder of April 14, 2005 wherein it has been reported that Dr Ikhtiar Baig successfully negotiated with Premier Battery and finally they hav
Published 24 Apr, 2005 12:00am
End of school life

End of school life

My son has ended his school life. Soon he will be in his college, and with this he will be in his manhood. When he will look back, how would he find his school life? Will this make him nostalgic? Or will he only remember the his 'ghastly' efforts of memor
Published 24 Apr, 2005 12:00am
India's consumer goods firms dish up food for growth

India's consumer goods firms dish up food for growth

Biscuits, snacks and ready-to-cook meals are flying off the shelves in India, as busy consumers buy into the promise of convenience and hygiene. Where once housewives toiled for hours in the kitchen making traditional fare, urban consumers are now spoilt
Published 24 Apr, 2005 12:00am
Structure and performance of Islamic investment funds-II

Structure and performance of Islamic investment funds-II

Working of an Islamic equity fund: In the Islamic equity fund all the subscription amounts form a joint pool and is invested only in purchasing the shares of various Shari'ah-compliant in accordance with the above mentioned criteria. The subscribers to th
Published 24 Apr, 2005 12:00am
The fiasco in Brussels

The fiasco in Brussels

The treatment meted out to Maulana Samiul Haq, head of his own faction of JUI, at the Brussels airport and later the EU parliament's decision to cancel Wednesday's scheduled meeting with a delegation of Pakistani Senators, because it included the Maulana,
Published 24 Apr, 2005 12:00am
Combating terrorism

Combating terrorism

While Pakistan and the Philippines are members of the US-led coalition against international terrorism, both are also confronted by extremist violence at home, though of different varieties. The issue, therefore, figured prominently during General Pervez
Published 24 Apr, 2005 12:00am
Charas seized

Charas seized

Anti-narcotics force has seized 240 kg Charas at Fateh Jang which was being smuggled to Punjab from NWFP in a Suzuki car with government number plate. A press release issued here on Saturday said that Lieutenant Colonel Wasif Sajjad, Joint Director, Regio
Published 24 Apr, 2005 12:00am
Selection of technocrats and lady councillors for NALC pending

Selection of technocrats and lady councillors for NALC pending

Pakistan Muslim League and Federal Minister for Kashmir Affairs and Northern Areas, Syed Faisal Saleh Hayat are on a tug-of-war over the selection of technocrats and women councillors for the Northern Areas Legislative Council (NALC). The differences surf
Published 24 Apr, 2005 12:00am
Hearing of references against Benazir and Zardari adjourned

Hearing of references against Benazir and Zardari adjourned

Local Accountability Courts (AC) have adjourned the hearing of four corruption references against the former Prime Minister Benazir and her spouse Asif Zardari for May 13. Zardari's lawyer appeared in the court here on Saturday and prayed for adjournment,
Published 24 Apr, 2005 12:00am
CDA again shelves $58 million chair-lift project

CDA again shelves $58 million chair-lift project

The security concerns and shifting of Defence Complex (General Headquarter) to Islamabad from Rawalpindi has forced the CDA to shelve 58 million dollars chair-lift project for the fourth time in less than a decade, sources told Business Recorder on
Published 24 Apr, 2005 12:00am
Soomro condoles with Yousaf and Feroze

Soomro condoles with Yousaf and Feroze

Acting President Mohammadmian Soomro on Saturday condoled with the Revenue Division Secretary and CBR Chairman Abdullah Yousaf over the demise of his mother. In his condolence message, the Acting President prayed to Allah Almighty to shower His blessings
Published 24 Apr, 2005 12:00am
Telenor CEO elected supervisory board chief

Telenor CEO elected supervisory board chief

Telenor Pakistan Chief Executive Officer (CEO) and President Tore Johrisen has been elected chairman of supervisory board to implement mobile number portability (MNP) on Thursday. The supervisory board comprises 10 members of the cellular mobile telephone
Published 24 Apr, 2005 12:00am
Policy to upgrade SMEs in offing

Policy to upgrade SMEs in offing

The government is likely to announce a policy in June to convert the Small and Medium Enterprises (SMEs) from a simple labour-intensive to advance technology-oriented industries. Parliamentary secretary for ministry of industries, production and special i
Published 24 Apr, 2005 12:00am
RCCI leadership accused of creating hurdles in industrialisation

RCCI leadership accused of creating hurdles in industrialisation

The present leadership of Rawalpindi Chamber of Commerce and Industry (RCCI) is main hurdle in industrialisation in this region, as they ruined the Rawat Industrial Estate (RIE) for their personal interests, said Suhail A Sethi, Group leader of Business G
Published 24 Apr, 2005 12:00am
New audit policy for sales tax approved

New audit policy for sales tax approved

CBR Member, Sales Tax, Shahid Ahmed has said the government has approved the new audit policy for conducting sales tax audit of registered units, introducing a new simplified and taxpayers-friendly system. While addressing the Rawalpindi Chamber of Commer
Published 24 Apr, 2005 12:00am
Nissan Vehicles 2005 launched

Nissan Vehicles 2005 launched

Ghandhara Nissan President Lieutenant General Ali Kuli Khan Khattak (Retd) said that Ghandhara Nissan has now emerged as a strong industrial unit and is the only company in the automobile sector of the country having assembly facilities for a complete ran
Published 24 Apr, 2005 12:00am
ARD meeting convened to discuss PPP-PML-N relations

ARD meeting convened to discuss PPP-PML-N relations

Makhdoom Amin Fahim has summoned an emergency meeting of the Alliance for the Restoration of Democracy (ARD) next week to review PPP-PML-N ties and overall political situation. The meeting has been convened in Islamabad following contacts between top lead
Published 24 Apr, 2005 12:00am
Trade with China: role of private sector discussed

Trade with China: role of private sector discussed

Federal Minister for Railways Shamim Haider held a meeting with Mumtaz Bakhtawar Memorial Trust Hospital and Guard Group Chairman Muhammad Shafi Malik, and discussed the role of private sector to promote trade with China. Shafi Malik said that his group w
Published 24 Apr, 2005 12:00am
SECP chairman presents annual report to Prime Minister

SECP chairman presents annual report to Prime Minister

Prime Minister Shaukat Aziz on Friday said owing to structural reforms the country's strong capital markets were playing an important role in strengthening the country's economy. He was talking to Chairman Securities and Exchange Commission of Pakistan (S
Published 24 Apr, 2005 12:00am
Pre-budget moot on April 30

Pre-budget moot on April 30

A conference on pre-budget 2005-06 going to be held on April 30, 2005 under the banner of Karachi Branch Council of the Institute of Cost and Management Accountants of Pakistan (ICMAP) from 11:00 am till 4:30 pm at Kotri Association of Trade and Industry
Published 24 Apr, 2005 12:00am
Asia Pacific youth to join educational safari

Asia Pacific youth to join educational safari

The Cathay Pacific Airways has invited applications for its international wilderness experience 2005, in which young people from Asia Pacific region, including Pakistan, will join an educational safari in South Africa. According to a Cathay Pacific announ
Published 24 Apr, 2005 12:00am
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