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Print - 2005-06-21
Israeli start-ups work on environmental technology

Israeli start-ups work on environmental technology

Israeli entrepreneurs and venture capitalists, who traditionally have focused on software, electronics and medical devices, now see a growing opportunity to make money from technology to clean up the environment.
Published 21 Jun, 2005 12:00am
Lukoil appeals to Kremlin to cut taxes

Lukoil appeals to Kremlin to cut taxes

Russia's top oil firm, Lukoil, made a rare foray into politics on Monday by urging the Kremlin to cut taxes on oil companies and make better use of the vast revenues it gets from oil. Leonid Fedun, both a vice president and a large shareholder, said taxes
Published 21 Jun, 2005 12:00am
OECD slams Russian state's interference in economy

OECD slams Russian state's interference in economy

The OECD sounded a sharp warning note over state intervention in the Russian economy and the slowdown of reforms in the country in a highly critical report presented Monday in Moscow. "The actions of state bodies too often contradict stated reform goals,"
Published 21 Jun, 2005 12:00am
Heinz scoops up HP sauces for $855 million

Heinz scoops up HP sauces for $855 million

US food company H.J. Heinz has agreed to buy Danone's UK-based HP Foods business for about $855 million in a deal that puts HP and Lea & Perrins sauces under the same roof as its own Heinz Ketchup. The cash purchase would help Pittsburgh-based Heinz focus
Published 21 Jun, 2005 12:00am
Heinz scoops up HP sauces for $855 million

Heinz scoops up HP sauces for $855 million

US food company H.J. Heinz has agreed to buy Danone's UK-based HP Foods business for about $855 million in a deal that puts HP and Lea & Perrins sauces under the same roof as its own Heinz Ketchup. The cash purchase would help Pittsburgh-based Heinz focus
Published 21 Jun, 2005 12:00am
Macquarie and FTSE launch infrastructure index

Macquarie and FTSE launch infrastructure index

Australia's Macquarie Bank and market index provider FTSE launched on Monday an index for investors in infrastructure assets like privatised utilities, aiming to tap expected strong growth in this sector.
Published 21 Jun, 2005 12:00am
Tax air tickets to aid Africa, says Chirac

Tax air tickets to aid Africa, says Chirac

French President Jacques Chirac on Monday urged the world's richest nations to consider a tax on international air tickets to fund the fights against AIDS and poverty in Africa. Speaking at a Paris conference on micro-finance, Chirac said France and Germa
Published 21 Jun, 2005 12:00am
Africa calls for $20 billion G8 fund to back reforms

Africa calls for $20 billion G8 fund to back reforms

African leaders asked the Group of Eight rich nations for $20 billion to finance new projects arising from a new African initiative to promote good governance and reform, according to a statement issued on Monday.
Published 21 Jun, 2005 12:00am
Pro-whaling nations eye taking control of IWC

Pro-whaling nations eye taking control of IWC

Pro-whaling nations suffered an early setback on Monday by losing a key vote at an international whaling meeting where they are aiming to take a majority and roll back conservationist measures Members of the International Whaling Commission voted 30 to 27
Published 21 Jun, 2005 12:00am
US leading economic indicators fall

US leading economic indicators fall

A key gauge of the direction of the US economy dropped 0.5 percent last month, resuming a slide that began in January after a standstill in April, a private research group said on Monday. The New York-based Conference Board said its index of leading indic
Published 21 Jun, 2005 12:00am
UAL machinists agree to contract

UAL machinists agree to contract

Bankrupt US carrier United Airlines and its machinist union reached a deal to save the airline $175 million a year and allow it to terminate pension plans covering 20,000 active machinists and other workers and thousands of retirees, The Wall Street Journ
Published 21 Jun, 2005 12:00am
Atom energy revival fuels bullish uranium outlook

Atom energy revival fuels bullish uranium outlook

A revival of interest in nuclear energy has prompted the uranium fuel industry to consider mining new deposits across the globe to meet rising demand for the heavy metal, industry experts said on Monday.
Published 21 Jun, 2005 12:00am
Indian cabinet okays trade deal with Singapore

Indian cabinet okays trade deal with Singapore

India's cabinet gave the go-ahead Monday for a landmark trade deal with Singapore that is expected to accelerate the flow of foreign direct investment into the South Asian nation. "This is India's first comprehensive economic co-operation agreement with a
Published 21 Jun, 2005 12:00am
Slow judicial reforms worry businesses: World Bank

Slow judicial reforms worry businesses: World Bank

Slow and spotty judicial reforms in many European and Central Asian countries are worrying businesses and could undermine wider economic transformations, the World Bank said on Monday.
Published 21 Jun, 2005 12:00am
Dolan family offers to take Cablevision private

Dolan family offers to take Cablevision private

The Dolan family that controls Cablevision Systems Corp said on Monday it offered to take the US cable operator private in a $7.9 billion deal that would also spin off its cable networks and sports team businesses.
Published 21 Jun, 2005 12:00am
Opec chief to discuss additional oil supply

Opec chief to discuss additional oil supply

Opec's president said on Monday he will begin consultations with other cartel ministers from Friday to release an additional 500,000 barrels per day of Opec crude if oil prices remain high.
Published 21 Jun, 2005 12:00am
UK record borrowing puts Brown target at risk

UK record borrowing puts Brown target at risk

Britain's budget deficit hit a record high in May as government expenditure surged, raising doubts over whether Chancellor of the Exchequer Gordon Brown will meet his borrowing forecast for the year. The Office for National Statistics said public sector n
Published 21 Jun, 2005 12:00am
Malaysian shares flat

Malaysian shares flat

Malaysian share prices closed flat on Monday amid concerns about rising oil prices, with investors taking to the sidelines as crude rose above 59 dollars per barrel, dealers said. They said that modest gains on Wall Street on Friday and some buying intere
Published 21 Jun, 2005 12:00am
Hong Kong stocks end up, oil stocks outperform

Hong Kong stocks end up, oil stocks outperform

Hong Kong blue chip stocks ended slightly higher after quiet trading on Monday, with investors snapping up selective oil stocks after crude oil prices soared to record highs. The blue chip Hang Seng Index rose 0.24 percent, or 33.74 points, to 13,945.77,
Published 21 Jun, 2005 12:00am
Taiwan stocks soar on oil-linked firms

Taiwan stocks soar on oil-linked firms

Taiwan stocks edged to their highest close in over 13 months on Monday as record high oil prices fuelled plastics and petrochemical issues like Formosa Plastics, while selected tech issues also rose. The TAIEX share index ended up 0.05 percent at 6,296.89
Published 21 Jun, 2005 12:00am
Saudi market rocky due to lack of information: analysts

Saudi market rocky due to lack of information: analysts

Wild fluctuations in Saudi stocks this week show the market is oversubscribed by investors who have speculated on the basis of meagre information, analysts said on Monday. During a half-hour period in late trading on Sunday, the index dived 900 points to
Published 21 Jun, 2005 12:00am
Thai shares dip

Thai shares dip

Thai share prices closed 1.00 percent lower on Monday on concerns about rising oil prices, dealers said. The Stock Exchange of Thailand (SET) composite index fell 6.84 points to 679.68 and the blue chip SET 50 index was off 4.05 points at 475.13.
Published 21 Jun, 2005 12:00am
Indian stocks close at record high, led by Reliance

Indian stocks close at record high, led by Reliance

Indian shares closed at a record high on Monday, with the benchmark index crossing 7,000 points in intraday trade, buoyed by the end of a family battle for ownership of Reliance group companies, dealers said.
Published 21 Jun, 2005 12:00am
Jakarta shares climb

Jakarta shares climb

Indonesian share prices closed 0.52 percent higher on Monday as gains in market leader Telkom pushed the index back into positive territory, dealers said. The Jakarta Stock Exchange composite index closed up 5.892 points at 1,147.710, off a low of 1,134.3
Published 21 Jun, 2005 12:00am
Singapore shares close down

Singapore shares close down

Singapore share prices closed 0.53 percent on Monday as investors worried about the impact of record oil prices on the local economy and beyond, dealers said. They said expectations that crude oil prices could surge past 60 US dollars a barrel will furthe
Published 21 Jun, 2005 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 0.32 percent lower on Monday, ending a five-day rally on profit-taking as record high oil prices and continuing political concerns encouraged caution, dealers said. At the same time, sustained interest in Philippine Long Di
Published 21 Jun, 2005 12:00am
Seoul shares finish down on oil prices

Seoul shares finish down on oil prices

Seoul shares ended below the psychologically key 1,000-point level on Monday as record oil prices set off worries about profits at major manufacturers such as LG Electronics. But oil refiners such as SK Corp rose as investors bet oil price rises would lea
Published 21 Jun, 2005 12:00am
Australian shares slip

Australian shares slip

Australian share prices closed 0.15 percent lower on Monday as investors took profits after the market's latest record-breaking run, dealers said. They said signs of a cooling economy contributed to the afternoon sell-off by investors reluctant to push th
Published 21 Jun, 2005 12:00am
Japanese government bond prices surge

Japanese government bond prices surge

Japanese government bond (JGB) prices inched up on Monday as stocks fell following a surge in the cost of crude oil to a record high. The gains in JGBs were modest given a considerable slide in past sessions, as dealers trying to gauge bonds' next move wa
Published 21 Jun, 2005 12:00am
Japanese government bond prices surge

Japanese government bond prices surge

Japanese government bond (JGB) prices inched up on Monday as stocks fell following a surge in the cost of crude oil to a record high. The gains in JGBs were modest given a considerable slide in past sessions, as dealers trying to gauge bonds' next move wa
Published 21 Jun, 2005 12:00am
Nikkei snaps six-day rally, record-high oil weighs

Nikkei snaps six-day rally, record-high oil weighs

Japan's Nikkei share average fell 0.27 percent on Monday, snapping a six-session winning streak as profit taking offset advances by energy-related issues such as Nippon Oil Corp on record-high crude oil prices.
Published 21 Jun, 2005 12:00am
Chinese shares jump on hopes of share sale

Chinese shares jump on hopes of share sale

China shares closed 2.8 percent higher on Monday after mutual funds bought into large-caps on optimism about government support for the market after the unveiling an expanded scheme to sell off state-held shares.
Published 21 Jun, 2005 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 63.71/63.73 (previous 63.71). Call Money Rates: 4.0-12.0 percent (previous 4.0-16.5 percent).
Published 21 Jun, 2005 12:00am
Swiss franc firmer versus euro after EU budget flop

Swiss franc firmer versus euro after EU budget flop

The Swiss franc softened a touch against the dollar on Monday but ticked up against the euro after European Union leaders failed to agree on a long-term budget, heaping more pressure on the bloc's single currency.
Published 21 Jun, 2005 12:00am
Australian dollar rises

Australian dollar rises

The Australian dollar rose to six-week highs on Monday, fired by demand in Asia and the relentless rise in commodity prices, although the rally began to lose steam through profit-taking late in the session. The Aussie was $0.7771/75, below an intra-day hi
Published 21 Jun, 2005 12:00am
Euro falls versus dollar as EU crisis deepens

Euro falls versus dollar as EU crisis deepens

The euro tumbled against the dollar on Monday after European Union leaders failed to agree on a long-term budget and extended the deadline for ratifying a proposed EU constitution. The euro fell as low as around $1.2170 in early Asian trade, plunging from
Published 21 Jun, 2005 12:00am
Hong Kong dollar sheds early gains

Hong Kong dollar sheds early gains

The Hong Kong dollar eased down from morning gains late on Monday, while interbank rates remained soft as liquidity improved. The local currency was trading at 7.7745/46 per US dollar versus 7.7720 earlier in the day and slightly weaker than 7.7740/41 in
Published 21 Jun, 2005 12:00am
Chinese yuan ends unchanged

Chinese yuan ends unchanged

The yuan on Monday ended unchanged at 8.2765 per US dollar, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan stood at 4,150 points, implying a rate of 7.863 yuan per dollar in 12 mont
Published 21 Jun, 2005 12:00am
Wonder-girl Mirza passes 1st test

Wonder-girl Mirza passes 1st test

Indian teenager Sania Mirza, a burgeoning superstar in her home country, extended her rapidly-expanding reputation at Wimbledon on Monday with a hard-fought 6-3, 3-6, 8-6 first round win against Japan's Akiko Morigami. The 18-year-old Indian shot to fame
Published 21 Jun, 2005 12:00am
Pakistan junior hockey team leaves for World Cup

Pakistan junior hockey team leaves for World Cup

Pakistan junior hockey team head coach, Tahir Zman said the team has one objective to win the Junior World Cup in Dutch city of Rotterdam. "Only one thought has been infused in the mind of the whole team members to go for a win by progressing step by step
Published 21 Jun, 2005 12:00am
Navratilova and Evert perfect rivals

Navratilova and Evert perfect rivals

Chris Evert and Martina Navratilova were ice and fire. As two of the greatest rivals in 20th century sport, they goaded each other to greatness but still stayed friends. They played together 80 times. Navratilova was the Queen of Wimbledon, Evert the cham
Published 21 Jun, 2005 12:00am
Federer and Davenport in cruise control

Federer and Davenport in cruise control

Two-time defending champion Roger Federer and former winner Lleyton Hewitt impressively hammered out their Wimbledon credentials with comfortable opening round wins on Monday. Top-seed Federer, bidding for a third successive title at the All England Club,
Published 21 Jun, 2005 12:00am
Campbell holds off Tiger to take US Open

Campbell holds off Tiger to take US Open

New Zealander Michael Campbell held off a charging Tiger Woods to win the 105th US Open here on Sunday. The 36-year-old Kiwi finished level par 70 for the day and level par 280 for the championship to beat Woods by two strokes. It was a stunning showing b
Published 21 Jun, 2005 12:00am
Spanish police arrest 28 Russian mafia suspects

Spanish police arrest 28 Russian mafia suspects

Spanish police have arrested 28 suspected members of the Russian mafia operating an extensive money laundering network along the Spanish coast, the Interior Ministry said on Monday. Police in Germany, France, Belgium, the United States, Russia and Israel
Published 21 Jun, 2005 12:00am
US should 'close or clean up' Guantanamo, says Clinton

US should 'close or clean up' Guantanamo, says Clinton

Former President Bill Clinton has said the United States should either "close down or clean up" the Guantanamo Bay prison for foreign terrorism suspects. In an interview with the Financial Times published on Monday, Clinton said American or British troops
Published 21 Jun, 2005 12:00am
Best-seller Larry Collins dead at 75

Best-seller Larry Collins dead at 75

The American author Larry Collins, who formed a team with Dominique Lapierre to write best-sellers including "O Jerusalem" and "Is Paris burning?" died Monday in the south of France at the age of 75, Lapierre said. Collins died of a brain haemorrhage in h
Published 21 Jun, 2005 12:00am
Pope sends top cardinal on Moscow mission

Pope sends top cardinal on Moscow mission

The highest ranking Vatican official to visit Russia since the start of Pope Benedict's papacy began a mission to Moscow on Monday to test the waters for improving ties with the Russian Orthodox Church.
Published 21 Jun, 2005 12:00am
South Africa former deputy president to face graft charges

South Africa former deputy president to face graft charges

South Africa's popular former Deputy President Jacob Zuma will be charged with corruption in a case which has already seen his aide sentenced to 15 years in prison, state prosecutors said on Monday. "We have decided to bring criminal charges," National Pr
Published 21 Jun, 2005 12:00am
Kremlin seeks computer system to monitor governors

Kremlin seeks computer system to monitor governors

The Kremlin announced a tender on Monday for a computerised system which will appraise Russia's regional governors, giving ammunition to critics who say President Vladimir Putin is meddling in political life. A notice posted on the Kremlin web site www.kr
Published 21 Jun, 2005 12:00am
Indian and Bangladeshi to discuss border security

Indian and Bangladeshi to discuss border security

Top officials from India and Bangladesh are to meet in the Indian capital to discuss security along their volatile border, an official said Monday. The meeting begins Tuesday and would be led by foreign secretaries of both countries, said Indian foreign m
Published 21 Jun, 2005 12:00am
Turkey must boost human rights record for talks: EU

Turkey must boost human rights record for talks: EU

The European Commission raised pressure on Turkey on Monday to improve its human rights record before it starts entry talks, responding to public anxiety about enlargement shown in the two "No" votes to the EU constitution. Enlargement Commissioner Olli R
Published 21 Jun, 2005 12:00am
Embryos cloned from human eggs matured in laboratory

Embryos cloned from human eggs matured in laboratory

Belgian scientists said on Monday they have cloned the first human embryos from unripe eggs matured in the laboratory, an achievement that could help to overcome a stumbling block in stem cell research. Until now, scientists who have managed to clone huma
Published 21 Jun, 2005 12:00am
Bush and EU leaders talk about Iraq at summit

Bush and EU leaders talk about Iraq at summit

US President George W. Bush and European Union leaders sought to emphasise unity on Iraq and other trans-Atlantic issues on Monday at a summit overshadowed by a crisis within the EU. Bush met at the White House with European Commission President Jose Manu
Published 21 Jun, 2005 12:00am
Iranian vote declared clean

Iranian vote declared clean

Electoral officials on Monday said a random recount of votes from Iran's presidential elections found no evidence of ballot rigging and that a run-off vote would be held on Friday as planned, state television said.
Published 21 Jun, 2005 12:00am
Limited recount after Iran vote rigging charges

Limited recount after Iran vote rigging charges

Electoral authorities on Monday ordered a limited recount of Iran's inconclusive presidential election after reformists accused military organisations of rigging the vote in favour of a hard-line candidate.
Published 21 Jun, 2005 12:00am
Anti-Syrians win: government

Anti-Syrians win: government

Official results confirmed on Monday that an anti-Syrian coalition clinched a majority in parliament in the first elections since Syrian troops withdrew from Lebanon.
Published 21 Jun, 2005 12:00am
Triumphant alliance pledges new era for Lebanon

Triumphant alliance pledges new era for Lebanon

A Lebanese anti-Syrian alliance pledged sweeping change on Monday after winning control of parliament in the first elections in three decades without Syrian troops in Lebanon. Unofficial final results for Sunday's final phase of elections in north Lebanon
Published 21 Jun, 2005 12:00am
UN chooses new chief spokesman

UN chooses new chief spokesman

Stephane Dujarric de la Riviere, a Frenchman educated in the United States, was named on Monday as the new chief UN spokesman, replacing veteran spokesman Fred Eckhard, who is retiring at the end of June.
Published 21 Jun, 2005 12:00am
Taleban free 23 hostages

Taleban free 23 hostages

Afghanistan's ousted Taleban regime said Monday they had released the remaining 23 people from a group they captured last week, after executing eight of the hostages. A district chief and 22 policemen were freed as they had been found not guilty in a Tale
Published 21 Jun, 2005 12:00am
22 killed in Taleban attacks

22 killed in Taleban attacks

Twenty-two Afghans, most of them militants, were killed and six US soldiers injured in the latest attacks linked to the country's former Taleban regime, officials said Monday. Rebels from the fundamentalist Islamic group, ousted by US-led forces in late 2
Published 21 Jun, 2005 12:00am
CIA loses out on bill after Pentagon ally protests

CIA loses out on bill after Pentagon ally protests

A key Pentagon ally in the US Congress defeated a legislative attempt to guarantee the CIA control of all US secret agents overseas, congressional aides said on Monday.
Published 21 Jun, 2005 12:00am
Japan and South Korea fail to agree on history

Japan and South Korea fail to agree on history

Japanese Prime Minister Junichiro Koizumi and South Korean President Roh Moo-hyun failed to agree on Monday over how to patch up ties frayed by disputes over their countries' bitter history, Roh said.
Published 21 Jun, 2005 12:00am
Kuwait's first woman parliamentarian sworn in

Kuwait's first woman parliamentarian sworn in

Amid noisy protests by conservative MPs, Kuwait's first woman member of parliament was sworn in on Monday, only weeks after women were given the vote following a 40-year struggle for political rights. The appointment of rights activist Massouma al-Mubarak
Published 21 Jun, 2005 12:00am
Two Iranian dailies shut down

Two Iranian dailies shut down

Iran's judiciary has shut two pro-reform dailies for printing a letter accusing Supreme Leader Ayatollah Ali Khamenei of heading a system that abused people's votes, journalists said on Monday. The liberal Eqbal and Aftab-e Yazd newspapers were sealed lat
Published 21 Jun, 2005 12:00am
Blair deflects blame over EU crisis

Blair deflects blame over EU crisis

A combative British Prime Minister Tony Blair said Monday that he had been right to veto a proposed EU budget deal, insisting the bloc could not afford to wait a decade to begin reforms that will meet global challenges.
Published 21 Jun, 2005 12:00am
Rice criticises Cairo on violence and justice

Rice criticises Cairo on violence and justice

US Secretary of State Condoleezza Rice on Monday criticised emergency law, arbitrary justice and violence against peaceful demonstrators in Egypt and called on the Cairo government to "put its faith" in the people.
Published 21 Jun, 2005 12:00am
Issuance slows as bond market snoozes

Issuance slows as bond market snoozes

The recent surge of issuance in the European corporate bond market slowed on Monday as new disclosure standards that had helped fuel bond sales were set to come into effect. Supply of corporate bonds is expected to hit 15 billion euros this month as inves
Published 21 Jun, 2005 12:00am
Issuance slows as bond market snoozes

Issuance slows as bond market snoozes

The recent surge of issuance in the European corporate bond market slowed on Monday as new disclosure standards that had helped fuel bond sales were set to come into effect. Supply of corporate bonds is expected to hit 15 billion euros this month as inves
Published 21 Jun, 2005 12:00am
Monday's unofficial close: US stocks decline on record-high oil prices

Monday's unofficial close: US stocks decline on record-high oil prices

US stocks dropped on Monday after crude oil climbed to a record high, raising worry among investors that energy costs may squeeze corporate profit growth. Rising oil prices are generally negative for stocks, as they raise companies' expenses and eat into
Published 21 Jun, 2005 12:00am
FTSE dips on worries over costly oil

FTSE dips on worries over costly oil

Britain's top shares fell on Monday, retreating from three-year highs as a fresh surge in oil prices unnerved investors, although strength in heavyweight oil firms such as BP and Shell helped cushion the fall.
Published 21 Jun, 2005 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

Sterling rose over half a percent against the euro on Monday, after the single currency fell sharply on news European Central Bank policymakers were awaiting more data before deciding whether an interest rate cut is justified.
Published 21 Jun, 2005 12:00am
Euro slides in London

Euro slides in London

The euro slid towards last week's nine-month low versus the dollar on Monday after European Union leaders failed at the weekend to agree on a long-term budget, plunging the bloc into deeper crisis. The euro fell as low as $1.2182 in Asian trade before rec
Published 21 Jun, 2005 12:00am
Indian rupee weaker

Indian rupee weaker

The rupee shrugged off a stock market rally to give up early gains as the euro eyed a nine-month low against the dollar and crude oil, the country's biggest import, hovered around record highs, dealers said.
Published 21 Jun, 2005 12:00am
Copper ends lower

Copper ends lower

Copper prices backtracked from early record highs in Monday open-outcry trading on the London Metal Exchange (LME), but the setback looked temporary given current bullish sentiment and momentum, dealers said. "There has been some profit-taking in copper -
Published 21 Jun, 2005 12:00am
New York cotton finishes firm

New York cotton finishes firm

Cotton futures vaulted to a strong finish Monday on speculative fund buying and news that weather in the key growing state of Texas will be hot and dry over the next few days, analysts said. The New York Board of Trade's July contract went up 0.78 cent to
Published 21 Jun, 2005 12:00am
European gold hits three-month high

European gold hits three-month high

Gold hit a three-month high above $440 per ounce in Europe on Monday and was seen nearing a 2005 peak as investors upped their exposure to the precious metal. The market started to back off slightly in the afternoon, but dealers were confident of more gai
Published 21 Jun, 2005 12:00am
Oil hits $59, sustained demand attracts funds

Oil hits $59, sustained demand attracts funds

Oil prices set a new record high on Monday as worries about a winter fuel crunch stoked buying by hedge funds and forced Opec to consider lifting supply quotas again. US light crude moved to a record for the second successive session, hitting $59.52 a bar
Published 21 Jun, 2005 12:00am
Oil hits $59, sustained demand attracts funds

Oil hits $59, sustained demand attracts funds

Oil prices set a new record high on Monday as worries about a winter fuel crunch stoked buying by hedge funds and forced Opec to consider lifting supply quotas again. US light crude moved to a record for the second successive session, hitting $59.52 a bar
Published 21 Jun, 2005 12:00am
Oil hits $59, sustained demand attracts funds

Oil hits $59, sustained demand attracts funds

Oil prices set a new record high on Monday as worries about a winter fuel crunch stoked buying by hedge funds and forced Opec to consider lifting supply quotas again. US light crude moved to a record for the second successive session, hitting $59.52 a bar
Published 21 Jun, 2005 12:00am
'Government promoting CNG use to reduce pollution'

'Government promoting CNG use to reduce pollution'

The government has planned to promote the use of Compressed Natural Gas (CNG) in a big way to reduce pollution level being caused by vehicles using motor gasoline and trying to improve the ambient air quality. Presently, some 700 CNG stations are operatio
Published 21 Jun, 2005 12:00am
SSUET board approves Rs 338.895 million budget

SSUET board approves Rs 338.895 million budget

The Sir Syed University of Engineering and Technology (SSUET) Board of Governors has approved Rs 338.895 million budget for the year 2005-06, showing expenditure at Rs 326.792 million and surplus amount at Rs 12.103 million, at a meeting held here with Vi
Published 21 Jun, 2005 12:00am
10 polio cases reported in country

10 polio cases reported in country

Ten cases of polio have been reported this year in Pakistan, which is 50 percent less than previous year's figure, Federal Minister for Interior, Aftab Ahmed Khan Sherpao said at the inaugural ceremony of three-day "Anti-Polio Drive" here at a local hotel
Published 21 Jun, 2005 12:00am
Naimat opposes proposal to establish accident & emergency centre

Naimat opposes proposal to establish accident & emergency centre

City Nazim Naimatullah Khan has opposed the proposal to establish Accident & Emergency Centre and Ancillary Services Complex (AECASC) after razing Services Hospital Karachi and adjacent buildings terming the Sindh government decision as 'wrong move'.
Published 21 Jun, 2005 12:00am
Private sector invited to invest in Gwadar

Private sector invited to invest in Gwadar

Gwadar Development Authority (GDA) Director General, Ahmed Bakhsh Lehri, on Monday invited private sector to invest in Gwadar and utilise development opportunities being extended by the government.
Published 21 Jun, 2005 12:00am
Heat stroke claims another 14 lives

Heat stroke claims another 14 lives

Another 14 persons have died of heat stroke during last 24 hours as the temperature rose to 45.5 degree centigrade on Monday. Now the death toll rose to 30 during last three days. Three persons died in Gojra, two each died in Jhang, Muzaffargarh, Sahiwal,
Published 21 Jun, 2005 12:00am
IGP vows to make Mahfooz Punjab programme a success

IGP vows to make Mahfooz Punjab programme a success

Inspector General of Police Punjab, Zia ul Hassan Khan on Monday vowed to make the Chief Minister's 'Mahfooz Punjab Programme' a complete success by providing effective protection to the life and property of the masses.
Published 21 Jun, 2005 12:00am
Punjab supplying 6 million fish seeds to provinces

Punjab supplying 6 million fish seeds to provinces

The Punjab Fisheries Department, on the special directive of the Punjab Chief Minister, is supplying six million fish seeds of culture able species to all provinces including Azad Jammu and Kashmir and the private sector.
Published 21 Jun, 2005 12:00am
US envoy opens thalaessemia care centre at Badin

US envoy opens thalaessemia care centre at Badin

Ryan C Crocker, the US ambassador to Pakistan, has reaffirmed his country's support for the social uplift, economic development and public welfare schemes initiated in Pakistan.
Published 21 Jun, 2005 12:00am
Internet in service of ethnic peace in Kosovo

Internet in service of ethnic peace in Kosovo

Kosovo Albanian journalists and their colleagues from Serbia have decided to use the Internet to gain what politics has failed to obtain: easing of ethnic tensions still widely present in the province since the end of the 1998-1999 war.
Published 21 Jun, 2005 12:00am
Sale of sugar: USC's clarification

Sale of sugar: USC's clarification

This has reference to the news published in the Business Recorder dated 13th May, 2005, in which selling of sugar in bulk has been falsely alleged against some incharges of the Utility Stores.
Published 21 Jun, 2005 12:00am
Despite Yukos, Russia still open for business

Despite Yukos, Russia still open for business

Don't say it too loudly but, despite the jailing of Yukos boss Mikhail Khodorkovsky, business for many investors in Russia is great. Foreign executives may have felt deep unease at the nine-year rap for fraud and tax evasion handed down last month against
Published 21 Jun, 2005 12:00am
Contamination in raw cotton - an evil

Contamination in raw cotton - an evil

Pakistan textile industry receives heavy claims from the foreign buyers because of excessive contamination in textile products, the yarn in particular. There are various types of contaminations which include pieces of jute, polypropylene, hair, feathers,
Published 21 Jun, 2005 12:00am
NWFP budget

NWFP budget

Siraj-ul-Haq, NWFP Senior Minister, who also holds the portfolio of Finance and Planning and Development, presented the Rs 86.507 billion NWFP budget, with a deficit of Rs 2.308 billion, for financial year 2005-06, in a especially convened session of the
Published 21 Jun, 2005 12:00am
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