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Print - 2005-05-28
SSGC calls for precautions during diggings in Karachi

SSGC calls for precautions during diggings in Karachi

Sui Southern Gas Company has taken strong notice of the fact, that digging of trenches and roads during the development work undertaken by certain civic agencies and organisations, in different parts of the Karachi, is causing damage to gas pipelines. Acc
Published 28 May, 2005 12:00am
Self-power generation decision hailed

Self-power generation decision hailed

The decision of the government, allowing private sector industries generate own electricity, has been welcomed by the private sector industries in Sindh, especially Karachi. Several private sector industries had been urging the government since long to al
Published 28 May, 2005 12:00am
Satisfaction expressed over NEC decision

Satisfaction expressed over NEC decision

The leaders of all the provinces and AJK Prime Minister on Friday showed satisfaction over the National Economic Council (NEC) programme 2005-06. Sindh Chief Minister, Dr Arbab Ghulam Rahim while talking to PTV said, Prime Minister Shaukat Aziz has approv
Published 28 May, 2005 12:00am
Train derails

Train derails

A Lahore bound goods train carrying oil from Karachi when arrived at Azeem Khan, 16 km from Rahimyar Khan on Friday, its 15 bogies derailed as a result railway service of both sides suspended.
Published 28 May, 2005 12:00am
Railways freight earnings up 23 percent

Railways freight earnings up 23 percent

Pakistan Railways policy of paying due attention to freight services and diversification of this sector, has started yielding results with freight earnings showing remarkable increase as compared to last year. Additional General Manager (Freight) Khawaja
Published 28 May, 2005 12:00am
FAO's help sought for livestock and fisheries uplift

FAO's help sought for livestock and fisheries uplift

Government of Pakistan (GoP) has sought assistance from Food and Agricultural Organisation (FAO) of the United Nations to develop the livestock, horticulture and fisheries sectors. A three-member delegation of FAO led by Dr Christopher Oates, Managing Dir
Published 28 May, 2005 12:00am
Pakistan not exploiting SMEs potential: report

Pakistan not exploiting SMEs potential: report

In Pakistan the small and medium enterprises (SME) sector has acted neither as a significant engine of growth, nor as an important conduit for structural change due to number of constraints that prevents the country from exploiting the potential of SMEs.
Published 28 May, 2005 12:00am
Multan to have mango export processing zone

Multan to have mango export processing zone

Mango Export Processing Zone will be formally established at Multan soon after documentation, said Shamoon Sadiq, chief executive officer Pakistan Horticulture Development & Export Board (PHDEB). Addressing a meeting of the Mango Growers Association (MGA)
Published 28 May, 2005 12:00am
Pakistan to participate in Jeddah health exhibition

Pakistan to participate in Jeddah health exhibition

More than 150 companies from over 15 countries will participate in the four-day expo on healthcare and hospital at Jeddah International Exhibition and Convention Centre, starting from May 29. Companies from Pakistan, Brazil, China, Slovenia, Malaysia, Aus
Published 28 May, 2005 12:00am
'Poverty reduction strategy to improve lot of masses'

'Poverty reduction strategy to improve lot of masses'

The government has evolved a strategy for reduction of poverty to bring about qualitative change in the life of country's poor masses. For implementation of the 'Perspective Plan' many steps are being taken to reduce poverty and improve social indicators,
Published 28 May, 2005 12:00am
Industrial unit in DHA irks residents

Industrial unit in DHA irks residents

Residents of 6th Zam Zama Commercial Lane, Defence Housing Authority have drawn the attention of concerned administration towards unlawful functioning of an industrial unit causing immense inconvenience to the residents in context of environmental degrada
Published 28 May, 2005 12:00am
Soomro lauds Pakistan Navy's role

Soomro lauds Pakistan Navy's role

Sea is the common heritage of mankind and is inextricably linked to economic prosperity of nations, said Chairman Senate Mohammadmian Soomro, while addressing the convocation ceremony of 34th staff course at Pakistan Navy War College here on Friday. Laudi
Published 28 May, 2005 12:00am
Japan presents proposals to develop Karachi

Japan presents proposals to develop Karachi

A delegation of Japanese government and financial institutions met City Nazim Naimatullah Khan here on Friday and presented a written report to the Nazim about the Karachi's revitalisation scenario, which contained proposals to make Karachi a modern city
Published 28 May, 2005 12:00am
'Pakistan Navy fleet being strengthened'

'Pakistan Navy fleet being strengthened'

The acquisition of F-22 frigates will equip the fleet with moderation surface platforms with state-of-the-art sensors and weaponry and will provide much needed flexibility including joint operations with allied navies. The ongoing purchase of 08 P3Cs, Pha
Published 28 May, 2005 12:00am
59 percent wheat procurement achieved in Multan region

59 percent wheat procurement achieved in Multan region

Food Department Multan has procured 565,415 tons of wheat, achieving 59 percent of its target so far at 75 centres set up in six districts of the former Multan division. Department sources told APP on Friday that procurement was slow because rates in the
Published 28 May, 2005 12:00am
Seven members of Rehman Dakait gang indicted

Seven members of Rehman Dakait gang indicted

An Anti-Terrorism Court in Karachi indicted seven persons in the explosive substance and police encounter case. Nazeer alias Balla, Iftekhar, Khalilur Rehman, Sajjad Ahmed, Fareed, Mohammad Ali and Babar, said to be members of Rehman Dakait gang, pleaded
Published 28 May, 2005 12:00am
IT centre set up at CDGK

IT centre set up at CDGK

The City District Government Karachi (CDGK) has developed a Central Information Technology Centre here at Civic Centre equipped with modern machinery and appliances. A meeting regarding the pace of IT development projects was held on Friday, chaired by Ci
Published 28 May, 2005 12:00am
New building for model customs collectorate

New building for model customs collectorate

The reforms programme in Customs represents a major step forward in the way cargo would be handled in Pakistan. This was stated by the Collector Appraisement and Project Director Customs Administrative Reforms (CARE), Azhar Majeed Khalid at a handing over
Published 28 May, 2005 12:00am
12 killed in fresh Indian occupied Kashmir violence

12 killed in fresh Indian occupied Kashmir violence

Nine Mujahideen, including a wanted commander, two civilians and an Indian soldier were killed in the latest clashes in occupied Kashmir, police said on Friday. (Occupation) troops shot dead Mohamed Yusuf, a district commander of the Hizbul Mujahideen gro
Published 28 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Four consecutive days of yield decline have resulted in an increase of 0.67% in the BMA-PGBI. Today the BMA-PGBI yield was down by approximately one bps translating to an insignificant increase of 0.06% in the BMA-PGBI to close at 94.4218. No major activi
Published 28 May, 2005 12:00am
12 killed in fresh Indian occupied Kashmir violence

12 killed in fresh Indian occupied Kashmir violence

Nine Mujahideen, including a wanted commander, two civilians and an Indian soldier were killed in the latest clashes in occupied Kashmir, police said on Friday. (Occupation) troops shot dead Mohamed Yusuf, a district commander of the Hizbul Mujahideen gro
Published 28 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Four consecutive days of yield decline have resulted in an increase of 0.67% in the BMA-PGBI. Today the BMA-PGBI yield was down by approximately one bps translating to an insignificant increase of 0.06% in the BMA-PGBI to close at 94.4218. No major activi
Published 28 May, 2005 12:00am
UBL road-show in Karachi today

UBL road-show in Karachi today

Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, will inaugurate the first road show for the Initial Public Offering (IPO) of United Bank Limited (UBL) shares at Pearl Continental Hotel, Karachi, on Saturday, May 28, 2005, at 7 pm
Published 28 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Four consecutive days of yield decline have resulted in an increase of 0.67% in the BMA-PGBI. Today the BMA-PGBI yield was down by approximately one bps translating to an insignificant increase of 0.06% in the BMA-PGBI to close at 94.4218. No major activi
Published 28 May, 2005 12:00am
UBL road-show in Karachi today

UBL road-show in Karachi today

Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, will inaugurate the first road show for the Initial Public Offering (IPO) of United Bank Limited (UBL) shares at Pearl Continental Hotel, Karachi, on Saturday, May 28, 2005, at 7 pm
Published 28 May, 2005 12:00am
UBL road-show in Karachi today

UBL road-show in Karachi today

Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, will inaugurate the first road show for the Initial Public Offering (IPO) of United Bank Limited (UBL) shares at Pearl Continental Hotel, Karachi, on Saturday, May 28, 2005, at 7 pm
Published 28 May, 2005 12:00am
UBL road-show in Karachi today

UBL road-show in Karachi today

Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, will inaugurate the first road show for the Initial Public Offering (IPO) of United Bank Limited (UBL) shares at Pearl Continental Hotel, Karachi, on Saturday, May 28, 2005, at 7 pm
Published 28 May, 2005 12:00am
Guantanamo probe finds five cases of Quran mishandling

Guantanamo probe finds five cases of Quran mishandling

The US military has identified five incidents of "mishandling of Quran" by US personnel at the Guantanamo Bay, but found no credible evidence that the holy book had been flushed down a toilet, the commander of the prison said on Thursday. Brigadier Genera
Published 28 May, 2005 12:00am
Guantanamo probe finds five cases of Quran mishandling

Guantanamo probe finds five cases of Quran mishandling

The US military has identified five incidents of "mishandling of Quran" by US personnel at the Guantanamo Bay, but found no credible evidence that the holy book had been flushed down a toilet, the commander of the prison said on Thursday. Brigadier Genera
Published 28 May, 2005 12:00am
First-ever German boss looms for Airbus

First-ever German boss looms for Airbus

Toulouse-based jetmaker Airbus is poised to get its first German boss under a deal taking shape on Friday, but parent group EADS says no decision has been made. Barring last-minute upsets, Gustav Humbert, 55, the Airbus number two who heads its operations
Published 28 May, 2005 12:00am
Punjab chief minister calls on Prime Minister

Punjab chief minister calls on Prime Minister

Chief Minister Punjab, Chaudhry Pervaiz Elahi called on Prime Minister Shaukat Aziz on Friday and discussed with him the ongoing development projects and law and order situation in Punjab province. The chief minister lauded the efforts of the Prime Minist
Published 28 May, 2005 12:00am
Sales tax issue: RCCI team calls on CBR official

Sales tax issue: RCCI team calls on CBR official

A delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI) called on Central Board of Revenue (CBR) Member Sales Tax and discussed with him in detail the issues pertaining to the sales tax. CBR Member Sales Tax Shahid Ahmed assured the visitin
Published 28 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 27, 2005).

Published 28 May, 2005 12:00am
Prime Minister assures help to Postal Service

Prime Minister assures help to Postal Service

Prime Minister Shaukat Aziz on Friday said the government will provide all support and resources to Pakistan Postal Service enabling it to provide better and more efficient service to the people. He made these observations while reviewing the performance
Published 28 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 27, 2005).

Published 28 May, 2005 12:00am
More incentives announced: PTCL sell-off best bargain, workers told

More incentives announced: PTCL sell-off best bargain, workers told

Announcing more incentives for employees, Pakistan Telecommunication Company Limited has assured the workers that privatisation of the company is in best interest of country, company, employees and customers. Sources from the PTCL told this scribe that th
Published 28 May, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 27, 2005).

Published 28 May, 2005 12:00am
Promotions to BPS-18, 19 demanded

Promotions to BPS-18, 19 demanded

The Information Officers (IOs) of the NWFP have unanimously demanded of the government to take notice of the worst working condition and without going into minute details, immediately allow grade 18 to those who are working in BPS-17 for the last over 12
Published 28 May, 2005 12:00am
US consumer spending, incomes rise in April

US consumer spending, incomes rise in April

US consumer spending and personal income both rose in April, while underlying inflation remained muted in another sign the economy is growing at a firm pace, a government report showed on Friday. While the April figures indicated the economy was chugging
Published 28 May, 2005 12:00am
NHA and FHA asked to improve roads in two weeks

NHA and FHA asked to improve roads in two weeks

NWFP Senior Minister Siraj-ul-Haq on Friday given a two weeks deadline to National Highway Authority (NHA) and Frontier Highways Authority (FHA) for bringing improvement in its working on highways right from Peshawar to Swat and Chitral especially in Mala
Published 28 May, 2005 12:00am
Call to set up economic zone in South Asia

Call to set up economic zone in South Asia

Punjab Governor, Lieutenant General Khalid Maqbool (Retd) has said that in order to rid 1.5 billion people of South Asia from poverty, there is a need to develop the whole region as a big economic zone. He observed this during a meeting with a delegation
Published 28 May, 2005 12:00am
Edwards puts West Indies in driver's seat

Edwards puts West Indies in driver's seat

West Indies reached 33 for one in their second innings at tea, after Fidel Edwards helped them bowl Pakistan out cheaply on the second day of the first Test on Friday. At the break, Chris Gayle was not out on 27 and Devon Smith was not out on six, after P
Published 28 May, 2005 12:00am
IPCCI forms study group to enhance bilateral trade

IPCCI forms study group to enhance bilateral trade

India-Pakistan Chamber of Commerce & Industry (IPCCI), formed by the two apex bodies ie Federation of Indian Chambers of Commerce & Industry (FICCI) and Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has formed a business to business (B2B
Published 28 May, 2005 12:00am
New York cocoa ends near 11-month low after speculators sell

New York cocoa ends near 11-month low after speculators sell

The benchmark New York cocoa futures price fell to its lowest in nearly 11 months on Thursday, as speculators sold amid a firm dollar, ample supplies and improving West African crop conditions, traders said. The New York Board of Trade's benchmark July co
Published 28 May, 2005 12:00am
Donors pledge nearly $300 million for Darfur force

Donors pledge nearly $300 million for Darfur force

Donors have pledged nearly $300 million to fund a bigger African Union (AU) force to help end fighting in Sudan's western Darfur region, AU officials said on Friday. They said Canada gave the biggest contribution of $133 million, followed by the United St
Published 28 May, 2005 12:00am
Blair and Berlusconi agree on G8 agenda

Blair and Berlusconi agree on G8 agenda

British Prime Minister Tony Blair said Britain and Italy were in agreement on the G8 agenda to help Africa and tackle climate change following talks here Friday with his Italian counterpart Silvio Berlusconi. Britain holds the rotating presidency of the G
Published 28 May, 2005 12:00am
Chechen rebels caused Moscow outage

Chechen rebels caused Moscow outage

Chechen warlord Shamil Basayev said on Friday that his rebels had attacked an electricity substation, triggering Wednesday's major power outage in Moscow, the rebel Web site www.kavkazcenter.com said. "The result of our special operation exceeded our expe
Published 28 May, 2005 12:00am
US official sees danger in China military build-up

US official sees danger in China military build-up

A senior Pentagon official warned on Thursday of the danger of China's military buildup and its potential impact on the security of Taiwan. US-China relations have improved, but "we cannot ignore the dangers inherent in China's current military buildup es
Published 28 May, 2005 12:00am
Bangladeshi security forces kill six gunmen

Bangladeshi security forces kill six gunmen

Six gunmen were killed and two wounded on Friday in a shootout with security forces along Bangladesh's north-eastern frontier with India, police said. They said three weapons, seven grenades and ammunition were seized from the spot following the exchange
Published 28 May, 2005 12:00am
Caught on tape, Conrad Black returns boxes

Caught on tape, Conrad Black returns boxes

Conrad Black has returned a dozen boxes he was videotaped removing without permission from his former Toronto headquarters, a spokesman for the one-time newspaper baron said on Thursday. The spokesman said the boxes contained Black's own property, but he
Published 28 May, 2005 12:00am
Rwandans must go home: Burundi

Rwandans must go home: Burundi

Burundi said on Friday thousands of asylum-seeking Rwandans who fear injustice in genocide courts must return home immediately, a move that a human rights watchdog had warned against. Human Rights Watch said on Friday the claims of nearly 7,000 Rwandans f
Published 28 May, 2005 12:00am
Lugar introduces bill to reform development banks

Lugar introduces bill to reform development banks

A key US senator, aiming to stamp out corruption in international development projects, on Thursday introduced legislation that would tie multilateral development bank reforms to $3.7 billion in new aid. The bill proposed by Republican Richard Lugar, chai
Published 28 May, 2005 12:00am
14 die in heavy rains in India's Northeast

14 die in heavy rains in India's Northeast

At least 14 people were killed and a dozen more injured in mudslides triggered by heavy rains in India's north-eastern state of Nagaland, officials said Friday. A police official said several houses were demolished when small hillocks caved in Thursday, t
Published 28 May, 2005 12:00am
Bomb damages Basque railway station

Bomb damages Basque railway station

Youths linked to Basque separatist guerrillas ETA exploded a home-made bomb in a train station in the Basque country on Friday, damaging the ticket office but causing no injuries, officials said. The device, made from an inflammable liquid like petrol and
Published 28 May, 2005 12:00am
Bogus bananas used to ship cocaine to Miami

Bogus bananas used to ship cocaine to Miami

Customs agents inspecting a shipment of plantains thought some of the green bananas seemed unusually hard and cut them open, finding more than 750 pounds (338 kg) of cocaine stuffed inside what turned out to be phony fruit. Smugglers molded the plantains
Published 28 May, 2005 12:00am
Bangladesh 90-5 against England

Bangladesh 90-5 against England

Bangladesh, after losing the toss, were 90 for five at stumps on the second day of the second Test at Lord's here Friday, still needing a further 330 to avoid an innings defeat against England. Aftab Ahmed was 26 not out and Khaled Mashud six not out. Ear
Published 28 May, 2005 12:00am
Bayern chase fifth double

Bayern chase fifth double

Bayern Munich are firm favourites to add the German Cup to their Bundesliga title in the final on Saturday although rivals Schalke 04 are the only side to have beaten them home and away this season. A Bayern victory, for their fifth league and cup double,
Published 28 May, 2005 12:00am
India stage comeback to draw with Kiwis in Sultan Azlan Shah Cup

India stage comeback to draw with Kiwis in Sultan Azlan Shah Cup

India fought back from two goals down to salvage a 2-2 draw with New Zealand in their second match of the 14th Sultan Azlan Shah Cup on Friday. Trailing 2-0 at half-time to goals from Darren Smith and Bevan Hari, India turned on the style in the second ha
Published 28 May, 2005 12:00am
1st PSO Asian Junior boxing logo unveiled

1st PSO Asian Junior boxing logo unveiled

Pakistan Boxing Federation (PBF) unveiled the logo as well as launched the 1st PSO Asian Junior Boxing Championship at a ceremony held at a local hotel here on Friday. The Pakistan State Oil (PSO) are the official sponsors of the event which is scheduled
Published 28 May, 2005 12:00am
Federer and Davenport in French Open last-16

Federer and Davenport in French Open last-16

Top seeds Roger Federer and Lindsay Davenport took huge steps towards claiming first French Open titles on Friday as Roland Garros eagerly awaited the teenage duel between Rafael Nadal and Richard Gasquet. Federer, bidding to become only the sixth man to
Published 28 May, 2005 12:00am
Sri Lankan rupee down

Sri Lankan rupee down

The Sri Lanka rupee ended slightly weaker in low volume trade on Friday as a state bank sold dollars to offset importer demand for US currency to settle their trade bills, dealers said.
Published 28 May, 2005 12:00am
Asian currencies: won and Taiwan dollar gain on strong US data

Asian currencies: won and Taiwan dollar gain on strong US data

The South Korean won led gains in Asian currencies on Friday, boosted by expectations that Asian exporters would benefit from solid US economic growth. The won gained as much a quarter of a percent to 999 per dollar. It has gained 3.6 percent this year ma
Published 28 May, 2005 12:00am
Hong Kong dollar firms as funds flow in for IPOs

Hong Kong dollar firms as funds flow in for IPOs

The Hong Kong dollar edged higher on Friday, bolstered by persistent fund flows into the territory ahead of a series of China-themed initial public offerings over the next two months. The local currency rose to as high as 7.7765 per US dollar before slipp
Published 28 May, 2005 12:00am
Dollar extends rally, rises to seven-month high versus euro

Dollar extends rally, rises to seven-month high versus euro

The dollar climbed to a seven-month high against the euro on Thursday, as a rally in the currency gained momentum on news the US economy had grown more vigorously than preliminary data indicated. The economy expanded at a 3.5 percent annual rate in the fi
Published 28 May, 2005 12:00am
Dollar sits near seven-month high, France vote looms

Dollar sits near seven-month high, France vote looms

The dollar hovered near a seven-month high against the euro on Friday as strong US economic data and expectations that France would reject a vote on an EU constitution helped the dollar to maintain its rally. While the euro has been battered on bets about
Published 28 May, 2005 12:00am
Swiss franc firms against dollar

Swiss franc firms against dollar

The Swiss franc firmed against the US dollar in early trade on Friday after hitting a fresh seven-month low against the greenback on Thursday on solid US growth figures. The US currency got a boost late on Thursday from revised data showing the US economy
Published 28 May, 2005 12:00am
Chinese yuan ends firmer

Chinese yuan ends firmer

The yuan on Friday ended one notch firmer at 8.2764 per US dollar, near the stronger end of its managed trading range. US Treasury Secretary John Snow told Congress on Thursday he was confident that China would change the yuan's decade-old peg of near 8.3
Published 28 May, 2005 12:00am