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Apr 08, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-08
Karachi on strategic location for offering BPOs to investors: Arbab

Karachi on strategic location for offering BPOs to investors: Arbab

The metropolis is on strategic location for setting up of business process outsourcing in the region for potential foreign and local investors. This was stated by Sindh Chief Minister Arbab Ghulam Rahim while talking to newsmen after the inaugural ceremon
Published 08 May, 2005 12:00am
CBR to abolish outdated laws

CBR to abolish outdated laws

To abolish old and redundant tax laws, the Central Board of Revenue (CBR) will withdraw the harsh punishment of imprisonment for the owners and captain of the shipping vessels, who transport excisable commodities through ships (below 300 tons weight). Off
Published 08 May, 2005 12:00am
CBR to abolish outdated laws

CBR to abolish outdated laws

To abolish old and redundant tax laws, the Central Board of Revenue (CBR) will withdraw the harsh punishment of imprisonment for the owners and captain of the shipping vessels, who transport excisable commodities through ships (below 300 tons weight). Off
Published 08 May, 2005 12:00am
CBR to abolish outdated laws

CBR to abolish outdated laws

To abolish old and redundant tax laws, the Central Board of Revenue (CBR) will withdraw the harsh punishment of imprisonment for the owners and captain of the shipping vessels, who transport excisable commodities through ships (below 300 tons weight). Off
Published 08 May, 2005 12:00am
Indian Coast Guard team due next week

Indian Coast Guard team due next week

An Indian delegation headed by Vice Admiral Arun Kumar Singh, Director general of Indian Coast Guard, will visit Pakistan next week as part of the ongoing dialogue to bolster relations between the two countries. During the two day visit commencing from Ma
Published 08 May, 2005 12:00am
Jamaat-i-Islami senator criticises Ulema family planning moot

Jamaat-i-Islami senator criticises Ulema family planning moot

Senator Dr Kausar Firdous of Jamaat-i-Islami (JI) has condemned the spending of millions of rupees on holding Ulema family planning conference, saying that it was nothing but a great farce and deception. She said this while addressing 'health committee' u
Published 08 May, 2005 12:00am
Concern voiced over rise in export re-finance rate

Concern voiced over rise in export re-finance rate

Former Pakistan Cotton Fashion Apparel Manufacturers and Exporters Association (PCFAMEA) chairman Dr Shahzad Arshad has expressed his deep concerns over the issue of tremendous increase in the rate of export refinance, saying that it will adversely hit th
Published 08 May, 2005 12:00am
Fazlur Rahman assumes charge as Sindh chief secretary

Fazlur Rahman assumes charge as Sindh chief secretary

Fazlur Rahman on Saturday assumed the charge as chief secretary Sindh replacing Mohammed Aslam Sanjrani who was promoted into Grade 22 and appointed as Federal Secretary. Sanjrani handed over the charge of office to Fazlur Rahman. He introduced Fazlur Rah
Published 08 May, 2005 12:00am
Livestock import policy welcomed

Livestock import policy welcomed

Chairman of Pakistan Tanners Association (PTA) Khwaja M Yousuf has stressed the need for permitting live animals imports from other countries, besides India. Hailing the government's decision for allowing duty-free import of live animals from India and ne
Published 08 May, 2005 12:00am
Regulators and auditors' role needs clear definition: SECP chief

Regulators and auditors' role needs clear definition: SECP chief

Securities & Exchange Commission of Pakistan (SECP) Chairman Dr Tariq Hassan has said that accounting professionals of South Asian region should gear up their efforts in order to meet the emerging challenges because of new business scenario. He was speaki
Published 08 May, 2005 12:00am
Four leather tanneries operation stopped by EPA

Four leather tanneries operation stopped by EPA

A team of Environmental Protection Agency, headed by Adviser to Sindh Chief Minister on Environmental Affairs, Muhammad Noman Saigal, raided factories in Korangi industrial area on Saturday and suspended operation of four leather tanneries. The provincial
Published 08 May, 2005 12:00am
IJT accused of attack on APMSO office-bearer

IJT accused of attack on APMSO office-bearer

Secretary General All Pakistan Muhajir Students Organisation, Dr Adnan Sherwani on Saturday accused the workers of Islami Jamiat Talaba (IJT) of attacking APMSO's Senior Joint Secretary Kashif Ahmed Siddiqui, which got him seriously injured. Speaking at a
Published 08 May, 2005 12:00am
UNHCR representative asks world for more help to Afghans

UNHCR representative asks world for more help to Afghans

Hollywood actress and Goodwill Ambassador for United Nations High Commission for Refugees (UNHCR) Angelina Jolie has called for more help from the international community to alleviate sufferings of the Afghan refugees in Pakistan. Despite generous support
Published 08 May, 2005 12:00am
LSE holds seminar on May 21

LSE holds seminar on May 21

Lahore Stock Exchange (LSE) is holding a one-day investor awareness seminar in Faisalabad on May 21. "A number of leading brokers from LSE will brief the prospective investors," Managing Director LSE, Hamid M Imtiazi told APP here Saturday. He said an inv
Published 08 May, 2005 12:00am
Judicial reforms afoot to provide inexpensive justice: Sherpao

Judicial reforms afoot to provide inexpensive justice: Sherpao

Federal Interior Minister Aftab Ahmed Khan Sherpao said on Saturday the present government was carrying out major judicial and police reforms to provide inexpensive and expeditious justice to common man. Addressing an oath-taking ceremony of the newly-ele
Published 08 May, 2005 12:00am
NWFP agriculture policy proposals reviewed

NWFP agriculture policy proposals reviewed

A meeting here on Saturday reviewed the recommendations submitted by the four sub-committees for proposed agricultural policy for NWFP. These recommendations related to tax reduction, strengthening of farm service centres, a proper mechanism for farmers'
Published 08 May, 2005 12:00am
Rind meets Sindh chief minister

Rind meets Sindh chief minister

Federal Minister Yar Mohammed Rind on Saturday met the Sindh Chief Minister Dr Arbab Ghulam Rahim at Chief Minister House and discussed various matters. The chief minister also met various personalities of district Naushehro Feroz and discussed political
Published 08 May, 2005 12:00am
LHC benches for next week

LHC benches for next week

As many as 12 division benches and 23 single benches will work at principal seat of the Lahore High Court (LHC) during the week commencing from Monday (May 09). According to a notification, division benches are headed by Chief Justice Iftikhar Hussein Cha
Published 08 May, 2005 12:00am
Senate session: opposition files adjournment motions

Senate session: opposition files adjournment motions

Joint opposition on Saturday filed an adjournment motion with the Senate, seeking discussion on Prime Minister's statement that Pakistan would provide centrifuges to the United Nations' nuclear watchdog. The opposition contended in the motion that Premier
Published 08 May, 2005 12:00am
Warrants issued for hurling stones on Prime Minister's car

Warrants issued for hurling stones on Prime Minister's car

Judicial Magistrate Multan Abdul Haq Jappa has issued non bailable warrants of eight activists of PPP including former Federal Minister for Law Malik Mukhtar Ahmed Awan and Secretary Information for southern Punjab Khawaja Rizwan Alam. The were not appear
Published 08 May, 2005 12:00am
Link roads to be remodelled

Link roads to be remodelled

In order to streamline the flow of traffic around Lahore Railway Station, important link roads would be remodelled and encroachments would be removed from the area. A high-level meeting held here on Saturday decided this under the chairmanship of Punjab C
Published 08 May, 2005 12:00am
Khokhrapar and Monabao track to be completed by December

Khokhrapar and Monabao track to be completed by December

Pakistan Railway would complete 130-Km Khokhrapar-Monabao track to facilitate passengers travelling between Pakistan and India, by December this year, official sources told APP here on Saturday. Minister for Railways, Mian Shamim Haider will personally vi
Published 08 May, 2005 12:00am
Malik Javed thanks nation

Malik Javed thanks nation

Malik Mohammad Javed, an employee of the Pakistan's embassy in Iraq who was kidnapped in Baghdad and later released has thanked the nation for prayers securing his release. Speaking at a PTV programme he thanked Allah Almighty and Pakistan government for
Published 08 May, 2005 12:00am
Durrani directs exploitation of minerals

Durrani directs exploitation of minerals

NWFP Chief Minister Akram Khan Durrani has said that NWFP was replete with natural resources that needed exploitation for the benefit of the people and overall development of the province. He was presiding over a meeting at Frontier House, Peshawar on Sat
Published 08 May, 2005 12:00am
PRCS calls for promoting human values

PRCS calls for promoting human values

The managing committee of Pakistan Red Crescent Society (PRCS), NWFP in its meeting on Thursday at Peshawar has underscored the need for promotion and development of fast fading human values in the society and stressed the widening and strengthening of sc
Published 08 May, 2005 12:00am
LHCBA condemns police torture on newsmen

LHCBA condemns police torture on newsmen

The Lahore High Court Bar Association (LHCBA) through a resolution, has strongly condemned the police torture on journalists and decided to hold a rally to express solidarity with them. The bar president Fakharunnisa Khokhar will announce the date of the
Published 08 May, 2005 12:00am
Sherpao to inaugurate Park Road on May 9

Sherpao to inaugurate Park Road on May 9

Interior Minister Aftab Ahmed Khan Sherpao will inaugurate 7.60-km long Park Road on Monday. An official of Capital Development Authority (CDA) told this scribe on Saturday that construction of 24 feet wide dual carriageway has been built at a cost of Rs
Published 08 May, 2005 12:00am
CDGL to launch drive against encroachments in Shah Alam Market

CDGL to launch drive against encroachments in Shah Alam Market

District Nazim Lahore, Mian Amer Mahmood has said that the City District Government Lahore (CDGL) is going to launch a special drive against encroachments in Shah Alam Market from May 11. He was addressing a meeting of traders' representatives at Town Hal
Published 08 May, 2005 12:00am
Punjab Assembly session on May 9

Punjab Assembly session on May 9

The Punjab Assembly will be in session on Monday with Speaker Muhammad Afzal Sahi in the chair. Punjab Governor Lieutenant General Khalid Maqbool (Retd) has already issued notification, summoning the assembly session.
Published 08 May, 2005 12:00am
Sharp decline in textile made-ups exports after quota phase-out

Sharp decline in textile made-ups exports after quota phase-out

Export orders for textile fabrics, made-ups, bed sheets and knit garments from European markets have dwindled sharply in the recent months as Pakistan's heavily burdened exports are losing competitiveness versus Bangladesh, India and China in the post-quo
Published 08 May, 2005 12:00am
'Drug menace eating into vitals of our society like cancer'

'Drug menace eating into vitals of our society like cancer'

The Federal Shariah Court, while referring as many 12 cases of possession of heroin/charas/opium to district and sessions judge Sheikhupura, has observed that the menace of narcotics is eating into the vitals of our society like cancer. The court comprisi
Published 08 May, 2005 12:00am
Sugar policy: PSMA seeks meeting with government

Sugar policy: PSMA seeks meeting with government

Sugar industry is ready to extend a helping hand to the government to formulate workable policies in the interest of all stakeholders, provided the government is willing to meet with the Pakistan Sugar Mills association (PSMA) and other stakeholders to th
Published 08 May, 2005 12:00am
Education centres for special children planned

Education centres for special children planned

The provincial government has planned to set up educational institutions for special children in various Tehsils of the province. Punjab Minister for Religious Affairs and Auqaf, Sahibzada Syed Saeed ul Hassan Shah stated this while talking to a delegatio
Published 08 May, 2005 12:00am
Small traders call for ending reliance on imported goods

Small traders call for ending reliance on imported goods

All Pakistan Cottage Industries and Small Traders Association (APCISTA) has urged the government to impose ban for a limited period of five-year on the import of those products, which are abundantly available in Pakistan. Chairman All Pakistan Cottage Ind
Published 08 May, 2005 12:00am
Government focussing on uplift of backward areas: Pervaiz

Government focussing on uplift of backward areas: Pervaiz

Punjab Chief Minister Pervaiz Elahi has said that uplift of underdeveloped and backward areas, on priority basis, is the pivot of economic policies of his government. He was talking to Iranian Ambassador in Pakistan, Muhammad Ibrahim Taherian, here on Sat
Published 08 May, 2005 12:00am
Indian peace march to conclude on May 10

Indian peace march to conclude on May 10

Peace March that began on March 23rd from the Mausoleum of Hazrat Nizamuddin will complete on May 13 at the shrine of Hazrat Bahauddin Zakariya Suharwardi in Multan. Marcher will leave for Multan on May 10 after three days' stay at Lahore. A large number
Published 08 May, 2005 12:00am
Dual citizenship proposed to normalise ties with India

Dual citizenship proposed to normalise ties with India

In a bid to normalise relations between Pakistan and India, dual citizenship must be given to citizens of both the countries. This proposal was floated by Sandeep Pandey organiser peace march initiated from Delhi (India) to Multan (Pakistan) while talking
Published 08 May, 2005 12:00am
Indian team arrives

Indian team arrives

A five-member Indian delegation arrived here on Saturday to hold talks with Pakistani officials to remove differences between the two countries on Kishan Ganga dam. The negotiations will be held here at Nespak office on Sunday (May 7). The talks will cont
Published 08 May, 2005 12:00am
SBP invites applications from financial institutions

SBP invites applications from financial institutions

The State Bank of Pakistan (SBP) has invited applications from interested financial institutions for appointment as Primary Dealer of Government Securities for the year 2005-06. According to Exchange and Debt Management Department (EDMD) Circular No 5 iss
Published 08 May, 2005 12:00am
1021 pirated CDs and computers seized

1021 pirated CDs and computers seized

The Business Software Alliance (BSA), under its countrywide campaign against piracy, has arrested a computer dealer in Lahore for supplying unlicensed software and seized 1,021 CDs besides two new computers. "Software piracy is against the copyright law a
Published 08 May, 2005 12:00am
India to cooperate with expert on Baglihar: Kasuri

India to cooperate with expert on Baglihar: Kasuri

Foreign Minister Khurshid Mahmood Kasuri expressed the hope that India will extend her co-operation with the World Bank for the appointment of a neutral expert to solve Baglihar dam issue in accordance with Indus Water Treaty. Talking to newsmen here on S
Published 08 May, 2005 12:00am
322,432 wheat bags procured in Multan region so far

322,432 wheat bags procured in Multan region so far

Food Department Multan has procured 3.224 million bags (322,432 tons) of wheat, achieving 33 percent target so far, at its 75 centres, set up in six districts of the former Multan division. Food Department sources told APP on Saturday the procurement has
Published 08 May, 2005 12:00am
Blair's bitter-sweet victory

Blair's bitter-sweet victory

Tony Blair's Labour Party won a historic successive third term in Thursday's British parliamentary elections with an apparently comfortable majority of 66 seats. Yet he is not in a great celebratory mood because his party's parliamentary majority has been
Published 08 May, 2005 12:00am
Towards a cleaner environment

Towards a cleaner environment

Punjab Chief Minister Pervaiz Elahi has taken a highly commendable initiative to rid major cities of the province of air pollution. On Wednesday, he launched his Green Programme under which all smoke-emitting vehicles are to be phased out. Rickshaws being
Published 08 May, 2005 12:00am
Monster of corruption and sharp-edged sword of FTO

Monster of corruption and sharp-edged sword of FTO

It is truly said, that no society anywhere in the world could be cited, where there is no corruption, but in our country it has crossed all limits. It is also true, that this evil can only be eradicated but by impartial justice, strict administrative cont
Published 08 May, 2005 12:00am
PIA's turnaround

PIA's turnaround

PIA is an organisation riddled by mismanagement, kickbacks, nepotism and political interference by every sitting government, including the present one. Those promoted on the basis of recommendations and lacking professional skills cannot be expected to de
Published 08 May, 2005 12:00am
Sales Tax refund fraud

Sales Tax refund fraud

There have been frequent reports of sales tax refund frauds whereby some unscrupulous elements of trade have defrauded the national exchequer by obtaining heavy sales tax refunds against fake documents/companies. Roughly billions of rupees have gone out o
Published 08 May, 2005 12:00am
Sarhad ban

Sarhad ban

I have addressed an appeal to the Chief Minister the Sarhad, Mohammad Akram Khan Durrani, for revival of industrial activities in the province and attracting new investment in the Sarhad province. There are many industrialists who are suffering due to ban
Published 08 May, 2005 12:00am
Without drugs, HIV patients in Myanmar turn to meditation, herbs

Without drugs, HIV patients in Myanmar turn to meditation, herbs

For three years Phyu Phyu Thin has volunteered to work with HIV patients in military-ruled Myanmar, but like many charities, hers is unable to offer life-prolonging drugs. That has prompted many patients to turn to traditional herbal medicines and Buddhis
Published 08 May, 2005 12:00am
DHA administrator pledges to solve residents' problems

DHA administrator pledges to solve residents' problems

A representative delegation of 17-member Defence Association Co-ordination Committee (DACC) led by its Secretary General Aziz Saharwardy met with the Defence Housing Authority (DHA) Administrator Brigadier Maqsood Hussain at the DHA's office here on Satur
Published 08 May, 2005 12:00am
Trust to hold free eye camps in Bangladesh

Trust to hold free eye camps in Bangladesh

On invitation of the Government of Bangladesh, a delegation of Haji Razak Janoo Memorial Trust, Karachi, led by Trust Chairman Abdul Rahim Janoo, is leaving for Bangladesh on Tuesday to organise two free eye camps at Mymensingh and Dhaka. About 500 latest
Published 08 May, 2005 12:00am
Transfer

Transfer

The Regional Commissioner of Income Tax (RCIT), Eastern Region, has posted Mohammad Irfan, Assistant Commissioner of Income Tax to Companies-I with immediate effect, said a notification issued from the office of the RCIT on Saturday.
Published 08 May, 2005 12:00am
'Epilepsy is a treatable disease'

'Epilepsy is a treatable disease'

"Epilepsy is a commonly misunderstood condition which is often confused with magical, mystical or religious phenomena, and can lead to epileptics being labelled as 'possessed'. Unfortunately, due to lack of education, these misconceptions are prevalent in
Published 08 May, 2005 12:00am
Government embarks on major reform initiative: Yousuf

Government embarks on major reform initiative: Yousuf

The government in general and the Central Board of Revenue (CBR) in particular embarked on a major reform initiative. This is both in the area of fiscal policy and tax administration, said CBR Chairman Abdullah Yousuf. He was addressing the Council and se
Published 08 May, 2005 12:00am
Installation of scanners for perishable cargo sought

Installation of scanners for perishable cargo sought

The fruit and vegetable exporters have suggested that scanning machines for inspection of perishable cargo should be installed at all airports and sea ports and cold storage facilities be set up at places like Multan, Rahim Yar Khan and Faisalabad. The Al
Published 08 May, 2005 12:00am
World Mother's Day today

World Mother's Day today

Pakistan is observing 'World Mothers Day' on Sunday in the backdrop of fact that a mother dies here every twenty minutes due to complications of pregnancy, as is largely denied of quality and efficient health care facilities. It is a mother who is in cont
Published 08 May, 2005 12:00am
Tributes paid to Baseer Ashraf

Tributes paid to Baseer Ashraf

Speakers at a memorial meeting held at Karachi Press Club on Saturday paid tributes to late Baseer Ashraf, a journalist of immense repute, prolific artist and art critic. The meeting was organised by Tapal Tea. Aftab Tapal, Salim Asmi, Professor Sehar Ans
Published 08 May, 2005 12:00am
Toronto stocks boosted by jobs data, oil strength

Toronto stocks boosted by jobs data, oil strength

Toronto stocks ended higher on Friday bolstered by strong employment reports on both sides of the border that boosted optimism about the economy while strong oil prices underpinned the energy sector. The Toronto Stock Exchange's S&P/TSX composite index en
Published 08 May, 2005 12:00am
Oil prices rebound, cocoa touches near 10-month low in world markets

Oil prices rebound, cocoa touches near 10-month low in world markets

World oil prices rebounded this week in volatile trading amidst rising US crude inventories and production by Opec approaching the highest level for 26 years. Cocoa future dropped to an almost ten-month low on prospects of a strong harvest and more peacef
Published 08 May, 2005 12:00am
CBOT wheat futures higher

CBOT wheat futures higher

Chicago Board of Trade wheat futures closed higher on Friday on a technical rebound and spillover strength from a jump in CBOT soybeans, traders said. CBOT May wheat settled 4-1/2 cents higher at $3.09-1/2 per bushel, with July up 3-1/4 at $3.17 and defer
Published 08 May, 2005 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was unchanged while the other July vaida was lower on the forward cottonseed oilcake market on Saturday as main participants kept on the sidelines due to less interest, dealers said. The May viada commenced at Rs 444.50 and closing was seen
Published 08 May, 2005 12:00am
Dullness in cotton market due to TCP tender

Dullness in cotton market due to TCP tender

Lacklustre activity was witnessed on cotton market on Saturday as the textile millers and exporters were busy in the Trading Corporation of Pakistan (TCP)'s cotton tender, relevant sources said. The official spot rates remained unchanged at Rs 2200, witho
Published 08 May, 2005 12:00am
Milk powder prices mixed

Milk powder prices mixed

The trading on milk powder sector moved mixed on Jodia Bazar on Saturday. Some changes were seen in Dairy Crest up Rs 50 to Rs 5000, Olden Burger up Rs 100 to Rs 5000, Pcomileh Holland up Rs 650 to Rs 4800, Euro Gold up Rs 300 to Rs 4300, Balie Gold up Rs
Published 08 May, 2005 12:00am
Steady trend on grain market

Steady trend on grain market

Firm trend was seen on the grain market at the weekend as most of the commodities held to their overnight levels, dealers said. On the cereals side, bajra inferior type gained Rs 50 to Rs 1850 in the process of trading, they said. Other sectors remained u
Published 08 May, 2005 12:00am
Malaysia ready if China re-values yuan

Malaysia ready if China re-values yuan

Malaysia believes a change in China's foreign-exchange policy could affect its own fixed-rate currency and is ready to react to "any eventualities", Malaysian Prime Minister Abdullah Ahmad Badawi said. "We have planned for any eventualities. We do not wan
Published 08 May, 2005 12:00am
IMM speculation slash net short yen positions again: CFTC

IMM speculation slash net short yen positions again: CFTC

Amid persistent speculation China might soon allow its currency to trade more freely, speculators in IMM currency futures again slashed their net short Japanese yen positions in the week ended Tuesday, May 3, data released on Friday showed. International
Published 08 May, 2005 12:00am
Dollar rallies after US jobs report

Dollar rallies after US jobs report

The dollar surged on Friday after the April jobs report signalled the US labour market was stronger than anticipated. The creation of 274,000 new jobs in April, well above market expectations and coupled with upward revisions to the previous two months' n
Published 08 May, 2005 12:00am
Brazilian real gain in low activity

Brazilian real gain in low activity

Brazilian currency ended slightly stronger in a subdued session on Friday. The Brazilian real ended only 0.12 percent stronger at 2.462 reais per dollar, close to its strongest point in three years. The currency is likely to keep strengthening on the back
Published 08 May, 2005 12:00am
Indian foreign exchange reserves fall

Indian foreign exchange reserves fall

India's foreign exchange reserves fell to $141.90 on April 29, from the record $142.55 billion seen the previous week, the Reserve Bank of India said in its weekly statistical supplement on Saturday. The central bank said foreign currency assets expressed
Published 08 May, 2005 12:00am
US and Chinese officials to discuss foreign exchange

US and Chinese officials to discuss foreign exchange

US and Chinese officials are to meet on Monday for discussions that will include foreign exchange, the US Treasury Department said on Thursday. "Officials from the People's Bank of China will visit with Treasury Department officials on Monday, May 9, for
Published 08 May, 2005 12:00am
Forex market views

Forex market views

Following is a selection of comments from analysts on important technical developments in the foreign exchange market:
Published 08 May, 2005 12:00am
Emerging debt spreads tighter despite jobs boost

Emerging debt spreads tighter despite jobs boost

Emerging sovereign spreads tightened on Friday as continued short-covering by hedge funds insulated the market from a hardy US jobs report that sent Treasuries tumbling. Treasuries plunged on news of a 274,000 jump in non-farm payrolls in April, far above
Published 08 May, 2005 12:00am
Emerging debt spreads tighter despite jobs boost

Emerging debt spreads tighter despite jobs boost

Emerging sovereign spreads tightened on Friday as continued short-covering by hedge funds insulated the market from a hardy US jobs report that sent Treasuries tumbling. Treasuries plunged on news of a 274,000 jump in non-farm payrolls in April, far above
Published 08 May, 2005 12:00am
Canadian bond prices drop on strong jobs

Canadian bond prices drop on strong jobs

The Canadian bonds fell hard on Friday on the double hit of strong Canadian and US jobs data. US Treasuries' losses were slightly steeper, widening US-Canada yield spreads. The retreat took the two- and ten-year bonds to their lowest levels in about a mon
Published 08 May, 2005 12:00am
Canadian bond prices drop on strong jobs

Canadian bond prices drop on strong jobs

The Canadian bonds fell hard on Friday on the double hit of strong Canadian and US jobs data. US Treasuries' losses were slightly steeper, widening US-Canada yield spreads. The retreat took the two- and ten-year bonds to their lowest levels in about a mon
Published 08 May, 2005 12:00am
US corporate bond spreads widen on autos and rate fears

US corporate bond spreads widen on autos and rate fears

US corporate bond spreads on Friday widened a second straight session on lingering impact of auto debt downgrades and heightened uncertainty in the benchmark Treasury market, market participants said. High-grade yield premiums likely rose by 2 basis point
Published 08 May, 2005 12:00am
US corporate bond spreads widen on autos and rate fears

US corporate bond spreads widen on autos and rate fears

US corporate bond spreads on Friday widened a second straight session on lingering impact of auto debt downgrades and heightened uncertainty in the benchmark Treasury market, market participants said. High-grade yield premiums likely rose by 2 basis point
Published 08 May, 2005 12:00am
Jobs data slams Treasuries on Fed rate prospects

Jobs data slams Treasuries on Fed rate prospects

US Treasuries fell on Friday as a stronger-than-expected April employment report convinced many investors that the Federal Reserve would keep raising interest rates. Shorter-dated debt suffered the brunt of the losses as dealers re-appraised their estimat
Published 08 May, 2005 12:00am
Jobs data slams Treasuries on Fed rate prospects

Jobs data slams Treasuries on Fed rate prospects

US Treasuries fell on Friday as a stronger-than-expected April employment report convinced many investors that the Federal Reserve would keep raising interest rates. Shorter-dated debt suffered the brunt of the losses as dealers re-appraised their estimat
Published 08 May, 2005 12:00am
Techfaith Wireless IPO raises $141.4 million

Techfaith Wireless IPO raises $141.4 million

China Techfaith Wireless Communication Technology Ltd raised $141.4 million in its initial public offering after the mobile handset designer's American depository shares priced toward the high end of its estimated pricing range. The offering priced at $16
Published 08 May, 2005 12:00am
Techfaith Wireless IPO raises $141.4 million

Techfaith Wireless IPO raises $141.4 million

China Techfaith Wireless Communication Technology Ltd raised $141.4 million in its initial public offering after the mobile handset designer's American depository shares priced toward the high end of its estimated pricing range. The offering priced at $16
Published 08 May, 2005 12:00am
American credit market outlook

American credit market outlook

TXU Corp has taken a licking in the corporate bond market recently as investors have fret over the company's share buybacks, and while the worst might be over, the pummelling may not be done. TXU on Thursday posted first-quarter earnings more than twice t
Published 08 May, 2005 12:00am
American credit market outlook

American credit market outlook

TXU Corp has taken a licking in the corporate bond market recently as investors have fret over the company's share buybacks, and while the worst might be over, the pummelling may not be done. TXU on Thursday posted first-quarter earnings more than twice t
Published 08 May, 2005 12:00am
IPO view: Warner Music ready to serenade investors

IPO view: Warner Music ready to serenade investors

Warner Music Group Corp will find out next week if investors are singing its tune as the world's fourth-largest music company tries to woo them with a $750 million initial public offering. Warner Music, home to recording artists Madonna and Green Day, is
Published 08 May, 2005 12:00am
Peru swaps $262 million in domestic bonds

Peru swaps $262 million in domestic bonds

Peru has swapped $261.8 million in domestic sovereign bonds that were close to maturity for new 10-year paper as part of plans to spread out its debt repayments, the Economy Ministry said on Friday. The new bonds have a 9.91 percent coupon based on a 360-
Published 08 May, 2005 12:00am
Peru swaps $262 million in domestic bonds

Peru swaps $262 million in domestic bonds

Peru has swapped $261.8 million in domestic sovereign bonds that were close to maturity for new 10-year paper as part of plans to spread out its debt repayments, the Economy Ministry said on Friday. The new bonds have a 9.91 percent coupon based on a 360-
Published 08 May, 2005 12:00am
Mexican stocks end flat despite Urbi rally

Mexican stocks end flat despite Urbi rally

Mexican stocks finished flat on Friday amid gains in home developer Urbi and a drop in construction company Cemex, while the peso firmed. After zigzagging between gains and losses during the session, the IPC benchmark stock index ended 0.03 percent lower
Published 08 May, 2005 12:00am
ASEM ministers strongly urge North Korea back to nuclear talks

ASEM ministers strongly urge North Korea back to nuclear talks

Asian and European foreign ministers urged North Korea on Saturday to return to talks on its nuclear arms programme "without any further delay" as concerns grew that Pyongyang was preparing for an atomic test. Nearly a year has passed since a third round
Published 08 May, 2005 12:00am
11 dead in four bomb explosions in Myanmar

11 dead in four bomb explosions in Myanmar

Myanmar's military government said at least 11 people were killed in four bomb explosions that struck the capital Yangon on Saturday, but witnesses said dozens of people died in the unprecedented attacks. The near-simultaneous mid-afternoon blasts targete
Published 08 May, 2005 12:00am
Polish 'spy' priest suspended

Polish 'spy' priest suspended

Father Konrad Hejmo, a close friend of the late pope John Paul II accused of spying for Poland's communist-era secret services, has been suspended by his religious order from his job dealing with Polish pilgrims for "two or three weeks", his superior said
Published 08 May, 2005 12:00am
Plane crash in Australia; 15 feared dead

Plane crash in Australia; 15 feared dead

A plane carrying 15 people crashed in bad weather in far north-east Australia on Saturday and it appeared there were no survivors, police said. Queensland state police told Reuters the burnt-out wreckage of the plane had been found 9 km (6 miles) north-we
Published 08 May, 2005 12:00am
Blast kills two in Kabul

Blast kills two in Kabul

A bomb at an Internet cafe in the Afghan capital, Kabul, killed two Afghans and wounded five on Saturday, police said. The Internet cafe is at the front of a guest house used mostly by Westerners in the heart of the city. "Two people have been killed and
Published 08 May, 2005 12:00am
Anti-Bush protesters rally

Anti-Bush protesters rally

More than 1,000 people demonstrated in Amsterdam and several hundred in Maastricht Saturday against the arrival of US President George W. Bush, who is scheduled to commemorate the end of World War II in Europe on Sunday at an American cemetery near the Ge
Published 08 May, 2005 12:00am
Cold War captivity one of great wrongs: Bush

Cold War captivity one of great wrongs: Bush

US President George W. Bush denounced Soviet Cold War rule of eastern Europe as "one of the greatest wrongs of history" on Saturday in a jab at Moscow two days before celebrations of the 1945 victory over Hitler. Bush, visiting Latvia before the ceremonie
Published 08 May, 2005 12:00am
Fifth ITCN Asia to be held from August 9

Fifth ITCN Asia to be held from August 9

The Fifth ITCN Asia 2005 will be held at the Karachi Expo Centre from August 9 to 11. An announcement here on Saturday said the event is being organised by the Ministry of Privatisation and Investment, Ministry of Information Technology and Telecommunicat
Published 08 May, 2005 12:00am
Five hospitals medical superintendents authorised to buy medicines

Five hospitals medical superintendents authorised to buy medicines

A tender was opened on April 28, 2005, for supply of medicines worth Rs 40 million in the defunct District Municipal Corporation (DMC), District Council Karachi (DCK), Government of Sindh, which have been merged with the CDGK. The central purchase committ
Published 08 May, 2005 12:00am
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