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Print - 2005-09-17
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 Sep, 2005 12:00am
Bank Alfalah assigned AA- rating

Bank Alfalah assigned AA- rating

The Pakistan Credit Rating Agency (Pacra) has assigned a rating of 'AA' (double A minus) to the proposed unsecured, subordinated term finance certificates issue of Rs 1,500 million by Bank Alfalah Limited.
Published 17 Sep, 2005 12:00am
PTCL plans to install 2.3 million WLL

PTCL plans to install 2.3 million WLL

The Pakistan Telecommunication Company Limited (PTCL) is prepared to install 2.3 million Wireless Loop Line (WLL) within a short period. Chairman PTCL, Zaffar A Khan while talking to APP here on Friday pointed out that PTCL had acquired the WLL licence an
Published 17 Sep, 2005 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 17 Sep, 2005 12:00am
Extension

Extension

Executive Director, Punjab Institute of Mental Health (PIMH), Brigadier Dr Saeed A. Akhtar (Retd) has been given one-year extension to continue on the same post. Dr Saeed was on contractual appointment in Grade-20 as executive director in PIMH. His contra
Published 17 Sep, 2005 12:00am
Rs 240.410 billion sell-off proceeds given to finance

Rs 240.410 billion sell-off proceeds given to finance

The Privatisation Commission has provided Rs 240.412 billion, from the proceeds of 26 public sector units privatised since November 2002 till to-date, to the finance ministry, sources at PC told Business Recorder here on Friday.
Published 17 Sep, 2005 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Interior ministry team leaves for Turkey on September 18

Interior ministry team leaves for Turkey on September 18

A four-member interior ministry delegation is due to leave on Sunday for Turkey to attend a meeting of the Pak-Turkish joint commission set up to strengthen bilateral co-operation in combating terrorism and organised crime.
Published 17 Sep, 2005 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 17 Sep, 2005 12:00am
Walkouts mar National Assembly proceedings

Walkouts mar National Assembly proceedings

The refusal of Speaker National Assembly to allow a debate on devastation caused by floods and heavy rains in the NWFP triggered an opposition walkout on Friday. Earlier, Muttahida Majlis-i-Amal (MMA) and Pakistan Muslim League (N) also walked out from th
Published 17 Sep, 2005 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 Sep, 2005 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

A historian once said, "those who don't learn from unpleasant events, one day become part of such events". Flash floods and rains in May and June this year wreaked havoc in Nowshehra, Peshawar and elsewhere.
Published 17 Sep, 2005 12:00am
Bank Alfalah assigned AA- rating

Bank Alfalah assigned AA- rating

The Pakistan Credit Rating Agency (Pacra) has assigned a rating of 'AA' (double A minus) to the proposed unsecured, subordinated term finance certificates issue of Rs 1,500 million by Bank Alfalah Limited.
Published 17 Sep, 2005 12:00am
PTCL plan to terminate contract employees sparks protest in Senate

PTCL plan to terminate contract employees sparks protest in Senate

A reported plan of the Pakistan Telecommunication Company Limited (PTCL) management to terminate over 4,000 of its low-ranked contract employees and the government's inability to undo the move sparked a strong protest from the treasury members in the Sena
Published 17 Sep, 2005 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
10 remain in run for Karachi Nazim slot

10 remain in run for Karachi Nazim slot

Ten candidates were left in the field for City Nazim Karachi election when nomination papers of two candidates were rejected by Returning Officer (RO) on Friday.
Published 17 Sep, 2005 12:00am
Member To Member

Member To Member

Members have subsequently reported the transactions on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Shaukat visits Gwadar today

Shaukat visits Gwadar today

Prime Minister Shaukat Aziz will have a busy schedule when he arrives here on Saturday on a daylong visit. He will launch various development schemes and announce package for development of Gwadar city as well as incentive package for investors in Gwadar
Published 17 Sep, 2005 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
'Pakistan and China to strengthen military ties'

'Pakistan and China to strengthen military ties'

General Liang Guanglie, member of the Central Military Commission and Chief of the General Staff of the People's Liberation Army (PLA) held talks with General Ehsan-ul-Haq, Chairman of the Joint Chiefs of Staff Committee and pledged to further strengthen
Published 17 Sep, 2005 12:00am
China expresses gratitude to Pakistan

China expresses gratitude to Pakistan

Chinese President Hu Jintao on Thursday thanked Pakistan for supporting China at international fora on various issues. The Chinese President conveyed the sentiments at a meeting with President General Pervez Musharraf at the United Nations headquarters.
Published 17 Sep, 2005 12:00am
Karachiites relieved as storm passes away

Karachiites relieved as storm passes away

The residents of Karachi heaved a sigh of relief on Friday as storm hitting the city coupled with heavy rains passed away bringing joy especially to the people residing in low-lying areas of the city.
Published 17 Sep, 2005 12:00am
SMS seminars

SMS seminars

The Government College University Lahore School of Mathematical Sciences (SMS) has quite a good number of foreign faculty members in mathematics hired on a long-term basis under the Higher Education Commission (HEC) Foreign Faculty Hiring Scheme.
Published 17 Sep, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Yields on the BMA-PGBI decreased by approximately 3 bps and its value increased by 0.12% to close at 98.323. Yields decreased across the length of the yield curve. In the short tenors, yields decreased by 1 to 2 basis points, while in the medium tenors, y
Published 17 Sep, 2005 12:00am
Free eye camp

Free eye camp

A free eye camp is being organised at Muhammad Sadiq, Hajira Bibi Memorial Hospital, 18-km, Sheikhupura-Faisalabad Road, district Sheikhupura from 26th September to 1st October 2005.
Published 17 Sep, 2005 12:00am
'Population boom hitting economy'

'Population boom hitting economy'

Increase in population is causing threat to stability of country's economy and Pakistan needs an extra 5.67 billion dollars investment annually to create additional GNP of 1.89 billion dollars required to meet the 2.9 million per annum increase in country
Published 17 Sep, 2005 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Three-day water closure

Three-day water closure

Karachi Water and Sewerage Board (KW&SB) will start repair work on 48-inch dia water pipeline in Azam Nagar of Liaquatabad from September 21 to be completed in three days.
Published 17 Sep, 2005 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Cash & Carry stores

Cash & Carry stores

Cash & Carry wholesale stores will be established in different cities of Sindh, particularly at important trade centres of Karachi. A variety of goods will be available on cash as well as credit in these stores.
Published 17 Sep, 2005 12:00am
Water security key to uplift: Prime Minister

Water security key to uplift: Prime Minister

Prime Minister Shaukat Aziz said on Friday that water security was an essential requirement for the future development in Pakistan. He was talking to A.N.G. Abbassi Chairman Technical Committee on Water Resources who paid a farewell call on him here at th
Published 17 Sep, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Yields on the BMA-PGBI decreased by approximately 3 bps and its value increased by 0.12% to close at 98.323. Yields decreased across the length of the yield curve. In the short tenors, yields decreased by 1 to 2 basis points, while in the medium tenors, y
Published 17 Sep, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Treatment of jail inmate directed

Treatment of jail inmate directed

The Lahore High Court (LHC) has directed the government to arrange medical treatment of a jail inmate Tariq Sharif and submit a report to the court by September 26.
Published 17 Sep, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
SCB chairman visits Pakistan

SCB chairman visits Pakistan

Standard Chartered PLC Chairman Bryan Sanderson was in Islamabad last week on a two-day visit to Pakistan. This was Sanderson's first visit to Pakistan. His visit is a strong reflection on the bank's growing commitment to the country.
Published 17 Sep, 2005 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (September 16, 2005).

Published 17 Sep, 2005 12:00am
Musharraf's remarks against rape victims condemned

Musharraf's remarks against rape victims condemned

Joint Action Committee for People's Rights, comprising male and female activists and workers of several local NGOs, on Friday held a protest demonstration in front of Karachi Press Club (KPC) against President General Pervez Musharraf's remarks against lo
Published 17 Sep, 2005 12:00am
SSGC advice to CNG stations

SSGC advice to CNG stations

The administration of Sui Southern Gas Company (SSGC) on Friday instructed all the owners of CNG stations not to use gas in excess of their allowed limits.
Published 17 Sep, 2005 12:00am
Energy conservation plan to be unveiled soon: Prime Minister

Energy conservation plan to be unveiled soon: Prime Minister

Prime Minister Shaukat Aziz on Friday said that energy conservation plan was being drawn and it would be unveiled soon to deal with wasteful use of fuel, conservation of energies being received from different sources and protection against environmental d
Published 17 Sep, 2005 12:00am
Reap to elect chairman and vice chairman today

Reap to elect chairman and vice chairman today

The Managing Committee of the Rice Exporters Association of Pakistan (Reap) will elect the Chairman and Vice Chairman of the association on September 17.
Published 17 Sep, 2005 12:00am
Pakistan and India urged to liberalise economies

Pakistan and India urged to liberalise economies

Pakistani and Indian business leaders have urged their governments to open up and liberalise their economies for national development. The call was made by FPCCI President Muhammad Saeed and leader of the Indian delegation Rajesh Kapadia at a meeting betw
Published 17 Sep, 2005 12:00am
Philippines shares close higher on mild bargain hunting

Philippines shares close higher on mild bargain hunting

Philippines shares prices closed 0.35 percent higher on Friday on mild bargain hunting in telecom and banking stocks, dealers said. They said concerns over a possible interest rate increase to head off inflation pressures and doubts about the implementati
Published 17 Sep, 2005 12:00am
US Treasuries troubled as factory costs doubled

US Treasuries troubled as factory costs doubled

US Treasury debt prices slid on Thursday after data showing a massive jump in manufacturing costs in September generated anxiety about rising inflation in the wake of Hurricane Katrina.
Published 17 Sep, 2005 12:00am
US Treasuries troubled as factory costs doubled

US Treasuries troubled as factory costs doubled

US Treasury debt prices slid on Thursday after data showing a massive jump in manufacturing costs in September generated anxiety about rising inflation in the wake of Hurricane Katrina.
Published 17 Sep, 2005 12:00am
Seoul shares hit record close on steel makers

Seoul shares hit record close on steel makers

Seoul shares set a record closing high on Friday, led by steel makers such as POSCO on expectations for higher product prices, while stocks focused on domestic demand rose on sustained optimism about a pick up in the economy.
Published 17 Sep, 2005 12:00am
US stocks flat on mixed data, Fed's next move

US stocks flat on mixed data, Fed's next move

US stocks were little changed on Thursday as a report showing weaker growth offset reassuring data on inflation, and investors were cautious about the Federal Reserve's interest-rate policy for the remainder of the year.
Published 17 Sep, 2005 12:00am
Hong Kong stocks close at lowest level

Hong Kong stocks close at lowest level

Hong Kong stocks closed at their lowest level so far this month on Friday, down 0.4 percent, as investors priced in a US interest rate rise next week. Property stocks were among the biggest losers in quiet trade ahead of a long weekend.
Published 17 Sep, 2005 12:00am
Malaysian shares higher in mixed trade

Malaysian shares higher in mixed trade

Malaysian shares prices closed 0.25 percent higher on Friday in mixed trade, with investors remaining cautious about rising inflation, dealers said.
Published 17 Sep, 2005 12:00am
Weak techs drag Taiwan stocks to 3-1/2-month lows

Weak techs drag Taiwan stocks to 3-1/2-month lows

Taiwan stocks dipped 0.84 percent on Friday to their lowest close in 3-1/2 months, with tech heavyweights like display screen maker AU Optronics Corp tracking losses in US counterparts.
Published 17 Sep, 2005 12:00am
China draft raises hopes at North Korea talks

China draft raises hopes at North Korea talks

The United States threatened to freeze North Korean assets if the reclusive state did not toe the line in talks aimed at ending its nuclear weapons programme, but a new proposal from China raised hopes for progress.
Published 17 Sep, 2005 12:00am
Merkel alliance has narrow poll edge as vote looms

Merkel alliance has narrow poll edge as vote looms

Conservative leader Angela Merkel's centre-right alliance has re-established a slight poll lead over its leftist rivals two days before an election that could decide the fate of Germany's long-cherished welfare state.
Published 17 Sep, 2005 12:00am
Eight killed as Indian bus plunges

Eight killed as Indian bus plunges

A packed bus plunged off a bridge Friday onto railway tracks killing at least eight people and injuring 33 in eastern India, police said.
Published 17 Sep, 2005 12:00am
US does not deserve Katrina aid: Iran cleric

US does not deserve Katrina aid: Iran cleric

The United States does not deserve foreign aid in the wake of hurricane Katrina given the amount of money it spends on military campaigns in Iraq and Afghanistan, a senior Iranian cleric said on Friday.
Published 17 Sep, 2005 12:00am
Philippines resumes peace talks with rebels

Philippines resumes peace talks with rebels

The Philippine government and separatist rebels have resumed informal talks after a two-month break, hoping to strike a deal on ending nearly 40 years of conflict, rebel and government officials said on Friday.
Published 17 Sep, 2005 12:00am
Australia expels US peace activist

Australia expels US peace activist

A US peace activist has been expelled from Australia over security concerns and handed an A$11,700 ($9,000) bill to cover his detention and deportation costs.
Published 17 Sep, 2005 12:00am
EU envoys again fail to agree on Turkey response

EU envoys again fail to agree on Turkey response

Envoys from the European Union's member states on Friday failed again to agree on how to respond to Turkey's refusal to recognise Cyprus, with talks likely to continue on Monday, EU diplomats said.
Published 17 Sep, 2005 12:00am
78 journalists among 250 arrested in Nepal

78 journalists among 250 arrested in Nepal

Nepalese police arrested Friday nearly 250 people, including 78 journalists, who were staging a protest calling for restoration of press freedoms curbed when King Gyanendra seized power.
Published 17 Sep, 2005 12:00am
Russia suspends plan to supply APCs to Palestinians

Russia suspends plan to supply APCs to Palestinians

Russia has shelved a plan to give the Palestinians 50 armoured personnel carriers after Middle East peace brokers told Moscow it could harm efforts to stabilise the region, diplomatic sources said on Friday.
Published 17 Sep, 2005 12:00am
Tropical Storm Ophelia crawls northward

Tropical Storm Ophelia crawls northward

Tropical Storm Ophelia edged away from the US East Coast on Friday and began a slow crawl toward New England and Canada after pounding the Carolinas for two days with heavy rains.
Published 17 Sep, 2005 12:00am
Digital mammograms better than film for some: study

Digital mammograms better than film for some: study

Digital mammograms are more accurate at detecting breast cancer than traditional film mammograms in women who are premenopausal, under age 50, or who have dense breasts, according to results from a study of nearly 43,000 women released on Friday.
Published 17 Sep, 2005 12:00am
Maharashtra evacuates 100,000 as flood waters rise

Maharashtra evacuates 100,000 as flood waters rise

Some 100,000 people had been evacuated by Friday morning from India's western Maharashtra state as heavy rains and waters released from dams flooded large areas, officials said.
Published 17 Sep, 2005 12:00am
Energy, gold keep Toronto stocks near key level

Energy, gold keep Toronto stocks near key level

Toronto stocks backed off from earlier session highs, but remained in positive territory on Thursday, as gold and energy shares kept the market close to its key 11,000 point mark.
Published 17 Sep, 2005 12:00am
US consumer sentiment slumps

US consumer sentiment slumps

US consumer confidence plummeted to a 13-year low in early September, battered by record high gasoline prices and the full force of Hurricane Katrina, a report showed on Friday. Separate data showed the US current account deficit, the broadest measure of
Published 17 Sep, 2005 12:00am
US deficit to rise for about a year: Snow

US deficit to rise for about a year: Snow

US Treasury Secretary John Snow on Friday said Hurricane Katrina clean-up costs will drive US deficits higher but said the country can afford it. "We can afford an increase in the deficit for a year or so," Snow said in an interview on Fox News.
Published 17 Sep, 2005 12:00am
EU Commission backs lifting job curbs for newcomers

EU Commission backs lifting job curbs for newcomers

"Old" European Union members could benefit from letting workers in from the ten newcomers, the European Commission said on Friday. The EU's 15 old members secured the right to restrict access to their job markets for up to seven years to workers from the
Published 17 Sep, 2005 12:00am
UK watchdog opposes EU mandatory audit committees

UK watchdog opposes EU mandatory audit committees

The UK's corporate governance watchdog, the Financial Reporting Council, opposes mandatory company audit committees, which the European Parliament is due to adopt at the end of September, its Chief Executive told Reuters.
Published 17 Sep, 2005 12:00am
North Korea introduces first 'credit card'

North Korea introduces first 'credit card'

North Korea announced on Friday the introduction of the Stalinist country's first credit card, but just how it would work was unclear. "The North East Asia Bank of the Democratic People's Republic of Korea has introduced (an) IC credit card ... in order t
Published 17 Sep, 2005 12:00am
Court clears US Airways plan to emerge from bankruptcy

Court clears US Airways plan to emerge from bankruptcy

US Airways said Friday it won court approval of its reorganisation plan that would allow the carrier to exit bankruptcy protection and merge with America West Airlines as early as September 27.
Published 17 Sep, 2005 12:00am
India's satellites with Boeing scrapped

India's satellites with Boeing scrapped

Discussions between India and Boeing on building two-tonne communication satellites have been called off as the US firm has changed its business strategy, an official said Friday.
Published 17 Sep, 2005 12:00am
August CPI falls to 8.41 percent

August CPI falls to 8.41 percent

The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Published 17 Sep, 2005 12:00am
Gazprom names 5 foreign firms for Arctic gas project

Gazprom names 5 foreign firms for Arctic gas project

Russia's Gazprom on Friday unveiled a short list of five foreign companies being considered as partners in a $20 billion Arctic gas project that could supply US markets for half a century.
Published 17 Sep, 2005 12:00am
August CPI falls to 8.41 percent

August CPI falls to 8.41 percent

The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Published 17 Sep, 2005 12:00am
Iraq completes first phase of debt settlement offer

Iraq completes first phase of debt settlement offer

Iraq said on Friday it completed its first step toward settling approximately $20 billion in outstanding debt owed to the private sector accumulated during the era of Saddam Hussein.
Published 17 Sep, 2005 12:00am
August CPI falls to 8.41 percent

August CPI falls to 8.41 percent

The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Published 17 Sep, 2005 12:00am
Iraq violence slows rebuilding: World Bank

Iraq violence slows rebuilding: World Bank

Violence in Iraq has slowed reconstruction and economic recovery more than expected, the World Bank said on Thursday in a grim assessment of the country's immediate hopes for recovery.
Published 17 Sep, 2005 12:00am
Oil import bill hedging under study

Oil import bill hedging under study

The government is considering hedging a sizeable chunk of its oil bill after it rose 20 percent to $3.8 billion in the 2004-05 fiscal year due to a surge in global oil prices, a senior official said on Friday.
Published 17 Sep, 2005 12:00am
China can sustain economic miracle: OECD

China can sustain economic miracle: OECD

China's 25-year economic miracle is likely to be sustained for "some time" and its booming economy should grow by 9.0 percent this year and 9.2 percent in 2006, the OECD said in a new report Friday.
Published 17 Sep, 2005 12:00am
Oil import bill hedging under study

Oil import bill hedging under study

The government is considering hedging a sizeable chunk of its oil bill after it rose 20 percent to $3.8 billion in the 2004-05 fiscal year due to a surge in global oil prices, a senior official said on Friday.
Published 17 Sep, 2005 12:00am
US eyes exports in return for farm subsidy cuts

US eyes exports in return for farm subsidy cuts

The United States is willing to cut farm subsidies to secure a new world trade deal, but wants greater export opportunities for its farmers in return, a senior US official said on Friday.
Published 17 Sep, 2005 12:00am