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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-06-22
PC asks Hassan Associates to submit offer for KESC

PC asks Hassan Associates to submit offer for KESC

The Privatisation Commission (PC) has asked a consortium of local companies to submit an offer for a 73 percent stake in the Karachi Electric Supply Corporation (KESC), officials said on Tuesday. The offer was made to Hassan Associates Consortium after Sa
Published 22 Jun, 2005 12:00am
Pakistan violated Kashmir bus pact: Manmohan

Pakistan violated Kashmir bus pact: Manmohan

Indian Prime Minister Manmohan Singh accused Pakistan on Tuesday of violating bilateral travel agreement on the newly launched trans-Kashmir bus service. Manmohan said Pakistan breached the pact earlier this month by allowing occupied Kashmiri leaders to
Published 22 Jun, 2005 12:00am
Afghan police, US air strikes kill 32 Taleban

Afghan police, US air strikes kill 32 Taleban

Hundreds of Afghan police, backed by US air strikes, retook control of a district capital that was overrun by the Taleban last week, killing 32 fleeing guerrillas and capturing at least 15, police said. The Taleban insurgents took Mian Nishin district of
Published 22 Jun, 2005 12:00am
Afghan police, US air strikes kill 32 Taleban

Afghan police, US air strikes kill 32 Taleban

Hundreds of Afghan police, backed by US air strikes, retook control of a district capital that was overrun by the Taleban last week, killing 32 fleeing guerrillas and capturing at least 15, police said. The Taleban insurgents took Mian Nishin district of
Published 22 Jun, 2005 12:00am
Indian army roadmap on Siachen pullback

Indian army roadmap on Siachen pullback

The Indian army said on Tuesday it has prepared a roadmap for the withdrawal of troops from the Siachen glacier. "We have given our viewpoint to the government on converting the Saltoro ridge and the glacier into a demilitarised zone," army chief general
Published 22 Jun, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 21, 2005).

Published 22 Jun, 2005 12:00am
Indian army roadmap on Siachen pullback

Indian army roadmap on Siachen pullback

The Indian army said on Tuesday it has prepared a roadmap for the withdrawal of troops from the Siachen glacier. "We have given our viewpoint to the government on converting the Saltoro ridge and the glacier into a demilitarised zone," army chief general
Published 22 Jun, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 21, 2005).

Published 22 Jun, 2005 12:00am
PC asks Hassan Associates to submit offer for KESC

PC asks Hassan Associates to submit offer for KESC

The Privatisation Commission (PC) has asked a consortium of local companies to submit an offer for a 73 percent stake in the Karachi Electric Supply Corporation (KESC), officials said on Tuesday. The offer was made to Hassan Associates Consortium after Sa
Published 22 Jun, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (June 21, 2005).

Published 22 Jun, 2005 12:00am
PC asks Hassan Associates to submit offer for KESC

PC asks Hassan Associates to submit offer for KESC

The Privatisation Commission (PC) has asked a consortium of local companies to submit an offer for a 73 percent stake in the Karachi Electric Supply Corporation (KESC), officials said on Tuesday. The offer was made to Hassan Associates Consortium after Sa
Published 22 Jun, 2005 12:00am
Pakistan violated Kashmir bus pact: Manmohan

Pakistan violated Kashmir bus pact: Manmohan

Indian Prime Minister Manmohan Singh accused Pakistan on Tuesday of violating bilateral travel agreement on the newly launched trans-Kashmir bus service. Manmohan said Pakistan breached the pact earlier this month by allowing occupied Kashmiri leaders to
Published 22 Jun, 2005 12:00am
Probe not to delay Gwadar port opening: minister

Probe not to delay Gwadar port opening: minister

The government on Tuesday dispelled the impression that recent directive of Prime Minister Shaukat Aziz to probe into irregularities in the allotment and sale of state-owned land in Gwadar could cause further delay in the inauguration of country's biggest
Published 22 Jun, 2005 12:00am
NBP and Pioneer Cement sign accord

NBP and Pioneer Cement sign accord

The National Bank of Pakistan (NBP) signed an agreement with the Pioneer Cement Limited (PCL) on Tuesday to help the latter in expanding its production capacity. NBP Risk Management Group Chief Javed Mahmood, and Pioneer Cement Managing Director Javed Ali
Published 22 Jun, 2005 12:00am
River Kabul rises to dangerous levels

River Kabul rises to dangerous levels

River Kabul has risen to dangerous levels in different parts of the NWFP, especially at Nowshera, where the discharge is over 0.1 million cusecs. The rise in River Kabul is attributed to widespread rains in the catchment areas in Pakistan and Afghanistan.
Published 22 Jun, 2005 12:00am
Malaysian tourism effort from June 23

Malaysian tourism effort from June 23

The Malaysian Tourism Promotion Board (MTPB) is organising a promotional effort in Pakistan from June 23 till July 1. According to the MTPB, the drive will provide a platform for the Malaysian private sector to further explore the business opportunities p
Published 22 Jun, 2005 12:00am
Parts of Karachi receive first showers

Parts of Karachi receive first showers

Parts of city on Tuesday received first showers of the season due to a low pressure developed over Northeast Arabian Sea that moved towards Northwest and lies about 300km Southeast. The people, who were braving scorching heat for the last many days and wi
Published 22 Jun, 2005 12:00am
Gillani sees solution of Kashmir issue only in UN resolutions

Gillani sees solution of Kashmir issue only in UN resolutions

Chief of his own faction of All Parties Hurriyat Conference (APHC) Syed Ali Gillani has asked the Pakistani nation not to pull back from its national stance on Kashmir issue and the demand for implementation of UN resolutions for solution of Kashmir probl
Published 22 Jun, 2005 12:00am
China encourages textile companies to invest in other countries

China encourages textile companies to invest in other countries

The Chinese government is encouraging its textile companies to invest in textile sector outside the country, especially in countries which are known for cotton production. This was stated by the Chairman of Chinese Chamber of Commerce for Import and Expor
Published 22 Jun, 2005 12:00am
Tariff Commission to probe into unfair trade practices

Tariff Commission to probe into unfair trade practices

The National Tariff Commission (NTC) has asked the Pakistani industrialists that if they are facing unfair trade practices, especially dumping, subsidies given to foreign exporters/manufactures and in case of a sudden surge in import of a particular produ
Published 22 Jun, 2005 12:00am
Tariff Commission to probe into unfair trade practices

Tariff Commission to probe into unfair trade practices

The National Tariff Commission (NTC) has asked the Pakistani industrialists that if they are facing unfair trade practices, especially dumping, subsidies given to foreign exporters/manufactures and in case of a sudden surge in import of a particular produ
Published 22 Jun, 2005 12:00am
CBR to submit 400 tax defaulters' list to National Assembly body

CBR to submit 400 tax defaulters' list to National Assembly body

The Central Board of Revenue (CBR) has decided to submit a list of around 400 sales tax and central excise defaulters to the National Assembly standing committee on finance in its next meeting on June 29, 2005. Official sources told Business Recorder <
Published 22 Jun, 2005 12:00am
SHV Holding chief meets Musharraf

SHV Holding chief meets Musharraf

A delegation of SHV Holding Netherlands and House of Habib led by Chairman SHV, P.C Klover called on President General Pervez Musharraf here on Tuesday. The president welcomed the delegation and briefed them about various economic measures and policies of
Published 22 Jun, 2005 12:00am
Attock group pays 25 percent NRL bid money

Attock group pays 25 percent NRL bid money

The authorised representative of Attock Oil Group of companies, Shuaib A Malik, on Tuesday handed over here a pay order worth Rs 4,103,783,901 as first installment (25 percent) of the total offer of Rs 16.415 billion, to Dr Abdul Hafeez Shaikh, Federal Mi
Published 22 Jun, 2005 12:00am
16 injured in gas explosion

16 injured in gas explosion

Sixteen persons received burn injuries in an explosion caused by leakage of Sui-gas in a jeweler's shop at Saddar main bazaar, Cantonment here, on Tuesday. The injured were rushed to CMH and Mayo Hospital for treatment, police said. A motorcycle parked ou
Published 22 Jun, 2005 12:00am
16 injured in gas explosion

16 injured in gas explosion

Sixteen persons received burn injuries in an explosion caused by leakage of Sui-gas in a jeweler's shop at Saddar main bazaar, Cantonment here, on Tuesday. The injured were rushed to CMH and Mayo Hospital for treatment, police said. A motorcycle parked ou
Published 22 Jun, 2005 12:00am
Tariff Commission to probe into unfair trade practices

Tariff Commission to probe into unfair trade practices

The National Tariff Commission (NTC) has asked the Pakistani industrialists that if they are facing unfair trade practices, especially dumping, subsidies given to foreign exporters/manufactures and in case of a sudden surge in import of a particular produ
Published 22 Jun, 2005 12:00am
Saudi-Pak initiates margin financing

Saudi-Pak initiates margin financing

Saudi-Pak Industrial and Agricultural Investment Company (Pvt) Limited has started margin financing which is replacing COT finance of the local bourses. It has committed finance of Rs 300 million and is considering requests for financing of Rs 700 million
Published 22 Jun, 2005 12:00am
Saudi-Pak initiates margin financing

Saudi-Pak initiates margin financing

Saudi-Pak Industrial and Agricultural Investment Company (Pvt) Limited has started margin financing which is replacing COT finance of the local bourses. It has committed finance of Rs 300 million and is considering requests for financing of Rs 700 million
Published 22 Jun, 2005 12:00am
Saudi-Pak initiates margin financing

Saudi-Pak initiates margin financing

Saudi-Pak Industrial and Agricultural Investment Company (Pvt) Limited has started margin financing which is replacing COT finance of the local bourses. It has committed finance of Rs 300 million and is considering requests for financing of Rs 700 million
Published 22 Jun, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

BMA-PGBI yield decreased by 9 basis points. The value of the index increased by 0.38% to close at 98.07. Yield to maturities declined further due to more demand. The market expects further demand in fixed income securities over the next few days.

Published 22 Jun, 2005 12:00am
Musharraf and Karzai discuss bilateral issues

Musharraf and Karzai discuss bilateral issues

President General Pervez Musharraf held a telephonic conversation with his Afghan counterpart President Hamid Karzai on Tuesday. Both the leaders discussed matters of bilateral interest as well as developments of regional and international significance. O
Published 22 Jun, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

BMA-PGBI yield decreased by 9 basis points. The value of the index increased by 0.38% to close at 98.07. Yield to maturities declined further due to more demand. The market expects further demand in fixed income securities over the next few days.

Published 22 Jun, 2005 12:00am
Musharraf and Karzai discuss bilateral issues

Musharraf and Karzai discuss bilateral issues

President General Pervez Musharraf held a telephonic conversation with his Afghan counterpart President Hamid Karzai on Tuesday. Both the leaders discussed matters of bilateral interest as well as developments of regional and international significance. O
Published 22 Jun, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

BMA-PGBI yield decreased by 9 basis points. The value of the index increased by 0.38% to close at 98.07. Yield to maturities declined further due to more demand. The market expects further demand in fixed income securities over the next few days.

Published 22 Jun, 2005 12:00am
Kabul urges Islamabad to arrest militants

Kabul urges Islamabad to arrest militants

Afghanistan urged Pakistan on Tuesday to clamp down on militants hiding on its side of the border, a day after Kabul said it had arrested three Pakistanis for plotting to assassinate the US ambassador. "There are elements on Pakistani soil who train terro
Published 22 Jun, 2005 12:00am
Kabul urges Islamabad to arrest militants

Kabul urges Islamabad to arrest militants

Afghanistan urged Pakistan on Tuesday to clamp down on militants hiding on its side of the border, a day after Kabul said it had arrested three Pakistanis for plotting to assassinate the US ambassador. "There are elements on Pakistani soil who train terro
Published 22 Jun, 2005 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 21, 2005).

Published 22 Jun, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 71,353 tonnes of cargo including 55,412 tonnes import and 15,941 tonnes export cargo including 1,434 containers during last 24 hours ending at 0700 hours on Tuesday. The cargo comprised of 44,659 tonnes dry cargo including 15,404
Published 22 Jun, 2005 12:00am
German politician apologises

German politician apologises

A leading German politician was forced to apologise on Tuesday for comments appearing to suggest that opposition security policies could create a modern-day version of the Nazi Gestapo. In a talk show appearance with opposition Christian Democrat (CDU) po
Published 22 Jun, 2005 12:00am
UK police probe Iraq suicide attack, arrest one

UK police probe Iraq suicide attack, arrest one

British police on Tuesday arrested the former house-mate of a 41-year-old French man they suspect of travelling from the UK to Iraq and blowing himself up in a suicide attack on US-led forces. It was the third European anti-terrorism raid in the past week
Published 22 Jun, 2005 12:00am
Indian soldiers kill 8 rebels

Indian soldiers kill 8 rebels

Indian soldiers shot dead eight separatists in a fierce gun battle in India's restive north-eastern state of Manipur, an army spokesman said Tuesday. The encounter with rebels belonging to the United National Liberation Front (UNLF) and the People's Revol
Published 22 Jun, 2005 12:00am
It's all business from glamour girl Sharapova at Wimbledon

It's all business from glamour girl Sharapova at Wimbledon

Wimbledon welcomed back Centre Court queen Maria Sharapova on Tuesday and she responded with an imperious display of grass court tennis that eased her into the second round. The 18-year-old title holder swatted aside Spanish first round opponent Nuria Lla
Published 22 Jun, 2005 12:00am
Tamarine leading the cheers for Thailand

Tamarine leading the cheers for Thailand

Tamarine Tanasugarn insisted the Thai patriotic spirit was alive and well as she prepared to carry the flag into the second round at Wimbledon. In the men's draw, Thai star Paradorn Srichaphan crashed out to Marat Safin, while qualifier Danai Udomchoke wa
Published 22 Jun, 2005 12:00am
Smile please, it's Rusedski's 10th anniversary

Smile please, it's Rusedski's 10th anniversary

Ten years ago, a smiling Greg Rusedski stopped being a Canadian, donned a Union Jack headband and became British. In that time, he has been a runner-up at the US Open, endured a bittersweet relationship with Tim Henman and fought a successful battle to cl
Published 22 Jun, 2005 12:00am
Master blaster Roddick eases through opener

Master blaster Roddick eases through opener

American second seed Andy Roddick hammered down 14 aces as he beat Jiri Vanek of the Czech Republic 6-1, 7-6 (7/4), 6-2 to reach the second round of Wimbledon on Tuesday. Roddick, last year's beaten finalist, will face either Croatia's Ivo Karlovic, who h
Published 22 Jun, 2005 12:00am
Wimbledon has new home hero in teenager Murray

Wimbledon has new home hero in teenager Murray

After more than a decade of cheering on Tim Henman, Wimbledon's home fans gained a new hero on Tuesday as Scottish teenager Andrew Murray powered into the second round on his tournament debut. Aged just 18 years and a month, and playing in only the third
Published 22 Jun, 2005 12:00am
Saeed Khan replaces Samiullah as manager

Saeed Khan replaces Samiullah as manager

The manager of Pakistan senior hockey team, Samiulleh Khan, has resigned from the post citing official pressing needs and Saeed Khan has been appointed as the new manager. Samiullah has regretted his inability to continue as team manager due to his pressi
Published 22 Jun, 2005 12:00am
Union Bank signs agreement with PSF

Union Bank signs agreement with PSF

Pakistan Squash has produced legends who made us proud worldwide, through their heroics. This was stated by Shaukat Tarin, President and CEO, Union Bank, on the occasion of a signing ceremony held here Tuesday. Union Bank Limited signed a corporate sponso
Published 22 Jun, 2005 12:00am
India and Bangladesh seal border agreements

India and Bangladesh seal border agreements

India and Bangladesh agreed Tuesday to several measures aimed at easing tensions along their border, which is the scene of frequent bloody clashes between security forces from the two countries, officials said.
Published 22 Jun, 2005 12:00am
Cardinal Sin dies

Cardinal Sin dies

Philippine Cardinal Jaime Sin, a driving force behind popular revolts that ousted two presidents, died on Tuesday after a long illness, leaving a mixed legacy in a country that remains hobbled by divisive politics.
Published 22 Jun, 2005 12:00am
Five killed in Israel train mishap

Five killed in Israel train mishap

At least five people were killed and scores injured when a passenger train and a truck collided in central Israel on Tuesday, police and rescue workers said. Passengers were thrown dozens of metres from carriages and others were trapped in the wreckage wh
Published 22 Jun, 2005 12:00am
Women lead Dubai population rate

Women lead Dubai population rate

The population of the Gulf emirate of Dubai reached 1.086 million residents at the end of March, with women making up nearly three fourths of that, newspapers reported Tuesday. The Dubai municipality released figures showing that the population grew by 16
Published 22 Jun, 2005 12:00am
Rice criticises Saudi Arabia on rights; gets firm rebuff

Rice criticises Saudi Arabia on rights; gets firm rebuff

US Secretary of State Condoleezza Rice criticised Saudi Arabia's record on democratic reform and the jailing of three activists but was firmly rebuffed Tuesday by Washington's staunch Middle East ally. "The row is really meaningless," Saudi Foreign Minist
Published 22 Jun, 2005 12:00am
Japan loses commercial whaling vote

Japan loses commercial whaling vote

Japan lashed out at anti-whaling nations on Tuesday after its proposal to resume limited commercial hunting was voted down by an international commission and its "scientific" harvesting heavily criticised. Japan had sought the approval of the 66-member In
Published 22 Jun, 2005 12:00am
US troops to stay in Iraq despite 'progress'

US troops to stay in Iraq despite 'progress'

Despite reported successes against the insurgency in Iraq, a top US military commander said on Tuesday the United States was unlikely to begin reducing its 135,000 troops there before elections late this year. "At this point, I would not be prepared to re
Published 22 Jun, 2005 12:00am
UN looking into Iraq's handling of goods contracts

UN looking into Iraq's handling of goods contracts

UN Security Council members on Monday expressed concern that Iraq was not paying suppliers of goods it ordered under the oil-for-food program before it closed down. The United Nations turned over most of the program's money to an Iraqi fund to cover contr
Published 22 Jun, 2005 12:00am
Ten killed in Iraq unrest; 70 arrested

Ten killed in Iraq unrest; 70 arrested

Ten people were killed Tuesday in attacks north of Baghdad while around 70 insurgents including a suspected al Qaeda member were arrested in raids around Iraq, hospital and security sources said. But the level of violence eased on the eve of an internatio
Published 22 Jun, 2005 12:00am
Sharon and Abbas hold frosty summit in Jerusalem

Sharon and Abbas hold frosty summit in Jerusalem

Israeli Prime Minister Ariel Sharon and Palestinian President Mahmoud Abbas appeared to make little headway at a summit on Tuesday towards resolving issues crucial to a smooth Israeli pullout from Gaza and peacemaking.
Published 22 Jun, 2005 12:00am
Anti-Syrian politician assassinated in Beirut

Anti-Syrian politician assassinated in Beirut

An anti-Syrian politician was killed in Lebanon on Tuesday when a bomb ripped through his car, two days after parliamentary elections brought victory for an alliance opposed to Damascus' role in the country. George Hawi, a former leader of the Lebanese Co
Published 22 Jun, 2005 12:00am
Revellers mark longest day at Stonehenge

Revellers mark longest day at Stonehenge

A colourful crowd of 20,000 people gathered Tuesday at Stonehenge, an ancient circle of stones in England, to witness the dawning of the longest day of the year. Amid the beating of drums following an all-night festival, druids, pagans, New Age travellers
Published 22 Jun, 2005 12:00am
Saudi forces kill two suspected militants

Saudi forces kill two suspected militants

Saudi Arabian security forces on Tuesday killed two alleged militants suspected of murdering a counter-terrorism security agent in the holy city of Makkah at the weekend, officials said. Three policemen were wounded, one seriously, during a gunfight in wh
Published 22 Jun, 2005 12:00am
Low-key anniversary for Sartre in France

Low-key anniversary for Sartre in France

When the philosopher Jean-Paul Sartre died in 1980, some 50,000 people attended his funeral in Paris' Montparnasse cemetery, but the hundredth anniversary of his birth on Tuesday passed off with little comment in France.
Published 22 Jun, 2005 12:00am
US House agrees to spend more for Iraq war

US House agrees to spend more for Iraq war

The House of Representatives voted to advance the Pentagon another $45 billion for the wars in Iraq and Afghanistan on Monday as it passed a $409 billion defence spending bill. The House approved the emergency "bridge fund," which would bring costs of the
Published 22 Jun, 2005 12:00am
Asian currencies drop on oil surge

Asian currencies drop on oil surge

The South Korean won led declines in Asian currencies on Tuesday with a fall of half a percent, as near-record oil prices hurt the outlook for regional economies. The won ended local trading at the day's low of 1,013.5 per dollar.
Published 22 Jun, 2005 12:00am
Dollar gains on report ECB mulling rate cut

Dollar gains on report ECB mulling rate cut

The dollar strengthened across the board on Monday, helped by heavy euro selling after Reuters reported that euro zone central bank policy-makers are waiting for more data before deciding whether an interest rate cut is justified.
Published 22 Jun, 2005 12:00am
Euro slips on ECB rate cut talk

Euro slips on ECB rate cut talk

The euro skidded toward nine-month lows against the dollar on Tuesday as the market digested the mounting possibility of a European Central Bank interest rate cut, dealing another blow to the reeling single currency. ECB monetary sources told Reuters that
Published 22 Jun, 2005 12:00am
Swiss franc steady at nine-month lows

Swiss franc steady at nine-month lows

The Swiss franc was steady against the dollar near nine-month lows on Tuesday, as the prospect of another interest rate rise in the US next week and a possible cut in euro zone rates supported the US currency.
Published 22 Jun, 2005 12:00am
Chinese yuan unchanged

Chinese yuan unchanged

The yuan on Tuesday 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 4,050 points, implying a rate of 7.873 yuan per dollar in 12 mon
Published 22 Jun, 2005 12:00am
Hong Kong dollar trapped in narrow range

Hong Kong dollar trapped in narrow range

The Hong Kong dollar was trapped in a tight range on Tuesday but some dealers warned that overseas investors may withdraw funds when the latest bout of major China IPOs ends next week. "The local currency has been supported by a funds inflow for IPOs rece
Published 22 Jun, 2005 12:00am
Singapore shares slightly changed

Singapore shares slightly changed

Singapore shares closed flat on Tuesday as investors stayed away from the market on a lack of positive leads and concerns over record oil prices, dealers said. The Straits Times Index dropped 0.74 points to 2,196.64 on volume of 466 million shares worth 5
Published 22 Jun, 2005 12:00am
Jakarta shares plunge

Jakarta shares plunge

Indonesian share prices closed 1.25 percent lower on Tuesday on profit-taking led by heavyweight Telkom following reports of a government investigation into allegations of graft at the company, dealer said. The Jakarta Stock Exchange composite index close
Published 22 Jun, 2005 12:00am
Tokyo shares climb but oil firms retreat

Tokyo shares climb but oil firms retreat

Japan's Nikkei average rose 0.05 percent in slow trade on Tuesday as investors bought tech firms such as Kyocera Corp amid optimism about earnings, offsetting losses in steelmakers and oil-related companies. Oil- and resource-related firms such as Nippon
Published 22 Jun, 2005 12:00am
Taiwan stocks slip on oil; techs take breather

Taiwan stocks slip on oil; techs take breather

Taiwan stocks were knocked off a 13-month closing high on Tuesday by a retreat on US markets and record high oil prices, which triggered profit-taking in high flying tech plays. The TAIEX share index eased back 18.43 points, or 0.29 percent, to 6,278.46 a
Published 22 Jun, 2005 12:00am
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