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Print - 2005-10-11
Ethiopia's Meles re-elected as Prime Minister

Ethiopia's Meles re-elected as Prime Minister

The Ethiopian parliament re-elected Meles Zenawi as prime minister for a third five-year term on Monday - but the main opposition coalition boycotted the new legislature's first sitting since disputed elections.
Published 11 Oct, 2005 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (October 10, 2005).

Published 11 Oct, 2005 12:00am
Nation rises to confront worst disaster

Nation rises to confront worst disaster

The Pakistani nation, despite being devoid of modern gadgetry and resources, stands up to fight the worst catastrophe of history with bare hands with indigenous tools such as hammer and chisel to rescue their fellow countrymen buried in rubbles of a block
Published 11 Oct, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (October 10, 2005).

Published 11 Oct, 2005 12:00am
Pims to send teams to Mansehra and Balakot

Pims to send teams to Mansehra and Balakot

Pakistan Institute of Medical Sciences (Pims) will send its teams of doctors along with paramedical staff and medicines to help earthquake-stricken people in Mansehra, Balakot and Rawalakot. The decision to send teams of doctors was taken at a high-level
Published 11 Oct, 2005 12:00am
'Sales tax refund only after verification'

'Sales tax refund only after verification'

Refund claims of commercial exporters will be sent to the Collectorate of Customs (Export) and shipping companies for verification of shipments before making payment. This was stated by Towel Manufacturers Association (TMA) Chairman Feroze Alam Lari on Mo
Published 11 Oct, 2005 12:00am
Business Recorder quake relief donation

Business Recorder quake relief donation

All employees of Business Recorder and Aaj TV channel have announced to donate their one-day salary to the President's Earthquake Relief Fund.
Published 11 Oct, 2005 12:00am
'Pakistani participation in Moscow's Textilexpo may prove milestone'

'Pakistani participation in Moscow's Textilexpo may prove milestone'

Pakistan's participation in the 25th Federal Trade Fair for home textiles and garments, held in Moscow from September 20 to 23, may prove another milestone in the trade relations between the two countries, said Larisa Dmitrievna, Deputy Director, Textilex
Published 11 Oct, 2005 12:00am
Sugar not available on controlled rate

Sugar not available on controlled rate

Acute shortage of sugar at the officially fixed priced at Rs 23 per kilogram sent buyer berserk at the utility stores and at places such as Monday Bazaars and Sunday Bazaars set up in different localities.
Published 11 Oct, 2005 12:00am
HBFC initiating a bold corporatisation plan

HBFC initiating a bold corporatisation plan

The House Building Finance Corporation (HBFC) is initiating a visionary plan to relocate the HBFC branches to visible and easily approachable locations. These branches would be customer-friendly and work as one-window operations to eliminate difficulties
Published 11 Oct, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (October 10, 2005) and Tuesday (October 11, 2005).
Published 11 Oct, 2005 12:00am
Rs 7500 prize bond draw on November 1

Rs 7500 prize bond draw on November 1

The 23rd draw of Rs 7,500 Prize Bonds would be held on November 1, at 9.00 am at the State Bank of Pakistan building Block A North Nazimabad. The Directorate of National Savings, Karachi, has announced this and also invited the general public to witness t
Published 11 Oct, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (October 10, 2005).

Published 11 Oct, 2005 12:00am
Universal Insurance rating reaffirmed

Universal Insurance rating reaffirmed

JCR-VIS has reaffirmed the ratings of The Universal Insurance Company Limited at BBB+ with a 'Stable' outlook. The sponsors' recent efforts to improve the capitalisation of the company have increased its paid-up-capital by Rs 30 million during FY2004.
Published 11 Oct, 2005 12:00am
Universal Insurance rating reaffirmed

Universal Insurance rating reaffirmed

JCR-VIS has reaffirmed the ratings of The Universal Insurance Company Limited at BBB+ with a 'Stable' outlook. The sponsors' recent efforts to improve the capitalisation of the company have increased its paid-up-capital by Rs 30 million during FY2004.
Published 11 Oct, 2005 12:00am
Hospitals running out of medicines in Islamabad

Hospitals running out of medicines in Islamabad

Hospitals here are in a dire need of blood, lifesaving drugs and disaster management equipment, as persons injured in Balakot, Rawalakot, Bagh, Muzaffarabad and Manshera are arriving in large numbers.
Published 11 Oct, 2005 12:00am
PIA operating special flights for Gilgit

PIA operating special flights for Gilgit

Pakistan International Airlines (PIA) is operating one special flight for Gilgit in addition of schedule flight on daily basis to facilitate the people of the area during the current crisis.
Published 11 Oct, 2005 12:00am
Rashid visits AJK & NWFP

Rashid visits AJK & NWFP

Minister for Information and Broadcasting Sheikh Rashid Ahmed on Monday visited the quake-hit areas of AJK and the NWFP. During his visit to Balakot, Garhi Habibullah, Rawlakot and Muzaffarabad, the minister told the notables of the respective areas that
Published 11 Oct, 2005 12:00am
Key stock market movements at 1700 GMT on October 10

Key stock market movements at 1700 GMT on October 10

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 11 Oct, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (October 10, 2005).

Published 11 Oct, 2005 12:00am
ADB approves TA for power transmission project

ADB approves TA for power transmission project

Asian Development Bank (ADB) has approved $0.50 million Project Preparatory Technical Assistance (PPTA) for power transmission enhancement project to ensure power supply to increasing number of industrial, commercial, and retail consumers.
Published 11 Oct, 2005 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (October 10, 2005).

Published 11 Oct, 2005 12:00am
French, US and Iranian relief goods arrive

French, US and Iranian relief goods arrive

Two cargo planes carrying relief goods and trained rescue workers for the help of the earthquake victims from Iran and the United States arrived here in the early hours on Monday.
Published 11 Oct, 2005 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 11 Oct, 2005 12:00am
Prime Minister asks volunteers, youth to help quake victims

Prime Minister asks volunteers, youth to help quake victims

Prime Minister Shaukat Aziz on Monday called upon the volunteers especially the youth all over the country to come forward and supplement the relief and rehabilitation efforts launched by the government in the wake of the massive earthquake.
Published 11 Oct, 2005 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 11 Oct, 2005 12:00am
Aga Khan pledges relief package

Aga Khan pledges relief package

His Highness the Aga Khan, Imam (spiritual leader) of the Ismaili Muslims and founder of the Aga Khan Development Network (AKDN), in a letter to His Excellency President General Pervez Musharraf, has assured the government of support for relief assistance
Published 11 Oct, 2005 12:00am
The Weather

The Weather

The weather report on Monday (October 10, 2005) and the forecast for Tuesday (October 11, 2005).
Published 11 Oct, 2005 12:00am
EU earmarks 3.6 million euros aid for quake victims

EU earmarks 3.6 million euros aid for quake victims

In response to the terrible earthquake, the European Commission has earmarked an initial amount of Euros 3.6 million in emergency aid. According to EU in Pakistan, the funds are being made available to partner humanitarian organisations through ECHO, the
Published 11 Oct, 2005 12:00am
Mirwaiz for restoration of AJK-IoK phone links

Mirwaiz for restoration of AJK-IoK phone links

Chairman All Parties Hurriyat Conference Mirwaiz Umar Farooq has appealed the Indian government to restore the telecommunication links between occupied Kashmir and Azad Kashmir, reports Kashmir Media Service.
Published 11 Oct, 2005 12:00am
Pakistani troops arrive from Burundi

Pakistani troops arrive from Burundi

A batch of Pakistani contingent from United Nations Mission in Burundi arrived here on Sunday night. Brigadier Abdul Basit Rana, Brigade Commander, received the troops at Quaid-e-Azam International Airport, said an ISPR press release. This batch of about
Published 11 Oct, 2005 12:00am
Profiteering in Ramazan goes unchecked

Profiteering in Ramazan goes unchecked

District administration has miserably failed to check the illegal profiteering during the holy month of Ramazan as shopkeepers and stall holders have bent upon loot.
Published 11 Oct, 2005 12:00am
No threat of high magnitude earthquake: Met Office

No threat of high magnitude earthquake: Met Office

Director General Meteorological department, Dr Qamar Zaman has said on Monday that there was no threat of a high magnitude earthquake in near future adding that critical period of the Saturday's earthquake would come to an end by Monday night.
Published 11 Oct, 2005 12:00am
'No early warning system about earthquake'

'No early warning system about earthquake'

Meteorological expert, Muhammad Hanif said on Monday that no early warning system had so far been discovered across the world about the occurrence of earthquakes.
Published 11 Oct, 2005 12:00am
Japanese Communist Party expresses sympathies

Japanese Communist Party expresses sympathies

Central Committee of the Japanese Communist Party has expressed its deep sense of condolence and sympathy with Pakistan on the loss of lives due to earthquake.
Published 11 Oct, 2005 12:00am
NWFP Assembly members to monitor relief, rescue operation

NWFP Assembly members to monitor relief, rescue operation

The session of NWFP Assembly was on Monday adjourned for a week to mourn the human loss in the earthquake and enable assembly members to participate in the relief activities and monitor rescue operations in their respective constituencies in the province.
Published 11 Oct, 2005 12:00am
Trade bodies urged to donate generously for quake victims

Trade bodies urged to donate generously for quake victims

Newly-elect City District Nazim, Rana Zahid Tauseef has announced to donate Rs one million to President Relief Fund for the earthquake victims. Talking to newsmen, he made a passionate appeal to the businessmen, industrialists, philanthropists and trade o
Published 11 Oct, 2005 12:00am
Mohtasib takes note of pensioners' ordeal

Mohtasib takes note of pensioners' ordeal

Sindh Ombudsman Yusuf Jamal has taken notice of reports that government pensioners are facing extreme hardships and even humiliation at the Treasury Office located in the city courts compound when trying to collect their pensions.
Published 11 Oct, 2005 12:00am
IACR grants SKMCHRC cancer registry associate member status

IACR grants SKMCHRC cancer registry associate member status

The International Association of Cancer Registries (IACR) has conferred Associate Member (AM) status on the Shaukat Khanum Memorial Cancer Registry, an integral part of the Shaukat Khanum Memorial Cancer Hospital and Research Center (SKMCHRC) Lahore Pakis
Published 11 Oct, 2005 12:00am
PS engineers retrieve abandoned coke worth Rs 70 million

PS engineers retrieve abandoned coke worth Rs 70 million

The engineers of Pakistan Steel have successfully retrieved 6,000 tonnes of useable coke worth Rs 70 million by screening the abandoned heaps of industrial waste dumped in the premises of Pakistan Steel since many years, says a press release here on Monda
Published 11 Oct, 2005 12:00am
Army major laid to rest

Army major laid to rest

Major Sabir Hussain, a Pak army official, killed in the earthquake, was laid to rest in Taunsa Sharif here on Monday. His body was wrapped in national flag.
Published 11 Oct, 2005 12:00am
Ireland commits 1 million euro

Ireland commits 1 million euro

The Government of Ireland has made an initial pledge of up to one million Euro to assist with immediate relief efforts in the aftermath of the earthquake which has hit northern Pakistan and the adjacent region. The earthquake measuring approximately 7.6 o
Published 11 Oct, 2005 12:00am
Survey of multi-storey buildings ordered

Survey of multi-storey buildings ordered

DCO Faisalabad, Athar Hussain Khan Sial has directed to conduct an immediate survey of all commercial plazas and multi-storey buildings of the Industrial city here on Monday.
Published 11 Oct, 2005 12:00am
Increasing hydel power generation

Increasing hydel power generation

There are no two opinions on that this country faces a serious electricity deficit, and that hydel power being the cheaper energy as compared to thermal and nuclear energy - which entails additional problems related to international concerns - it needs to
Published 11 Oct, 2005 12:00am
Drive against illegal blood banks

Drive against illegal blood banks

Sindh Health Minister Shabbir Ahmed Qaimkhani made the welcome revelation at a press briefing the other day of the launch of a long awaited province-wide drive against unregistered blood banks operating illegally, leading to sealing of 15 of them in diffe
Published 11 Oct, 2005 12:00am
Foreign NGOs map new route to African legitimacy

Foreign NGOs map new route to African legitimacy

To their critics, foreign aid workers in Africa serve a new form of imperialism: in their zeal to do good, the argument goes, they prop up a humanitarian system that perpetuates the continent's dependence on outsiders.
Published 11 Oct, 2005 12:00am
Angola's poor wait for oil wealth to trickle down

Angola's poor wait for oil wealth to trickle down

Angola may be sub-Saharan Africa's second largest oil producer but in a town still devastated by decades of brutal fighting, 67-year-old Armando Tiago says he has seen very little of the cash.
Published 11 Oct, 2005 12:00am
Absence of disaster management

Absence of disaster management

Pakistan's northern areas were hit by a strong earthquake on the morning of 8th October and the 2nd day of holy month of Ramazan. Scores of villages were buried under mudslides, with human death toll figure running into thousands.
Published 11 Oct, 2005 12:00am
Habib Bank's annual report for 2004: advances outpace interest income

Habib Bank's annual report for 2004: advances outpace interest income

The calendar year 2004 was the first complete year of Habib Bank Ltd under private management. During this year, the Bank earned pre-tax profit of Rs 7.164 billion which represents an increase of 31 percent over the pre-tax profit of Rs 5.469 billion earn
Published 11 Oct, 2005 12:00am
Habib Bank's annual report for 2004: advances outpace interest income

Habib Bank's annual report for 2004: advances outpace interest income

The calendar year 2004 was the first complete year of Habib Bank Ltd under private management. During this year, the Bank earned pre-tax profit of Rs 7.164 billion which represents an increase of 31 percent over the pre-tax profit of Rs 5.469 billion earn
Published 11 Oct, 2005 12:00am
World leaders condole over quack tragedy

World leaders condole over quack tragedy

World leaders have expressed their sympathies with Pakistan on the devastation caused by the earthquake. Japanese Prime Minister Junichiro Koizumi in his message addressed to President Pervez Musharraf expressed his heartfelt condolences on the tragic los
Published 11 Oct, 2005 12:00am
TV channels urged to observe mourning

TV channels urged to observe mourning

President of Lawyers Committee for Human Rights and Sindh Bar Council member Aqil Lodhi on Monday appealed to the TV channels to stop airing musical and glamorous programmes and advertisement, as the whole nation was mourning the colossal deaths due to th
Published 11 Oct, 2005 12:00am
Punjab University donates generously to help quake victims

Punjab University donates generously to help quake victims

Punjab University has collected Rs eight million as donation from academic departments, while teachers and employees would donate 2-day salary to the quake victims to help them overcome trauma of disaster.
Published 11 Oct, 2005 12:00am
Lawyers to set up relief fund

Lawyers to set up relief fund

The Lahore High Court Bar Association (LHCBA) has called an emergent meeting on Tuesday to establish a relief fund for extending help to quake victims.
Published 11 Oct, 2005 12:00am
Gold hits near 18-year high in Europe

Gold hits near 18-year high in Europe

Gold rose to a new near 18-year high in Europe on Monday, within reach of the next peak at $480 an ounce, on fund buying fuelled by inflation worries and strong physical demand.
Published 11 Oct, 2005 12:00am
Gold hits near 18-year high in Europe

Gold hits near 18-year high in Europe

Gold rose to a new near 18-year high in Europe on Monday, within reach of the next peak at $480 an ounce, on fund buying fuelled by inflation worries and strong physical demand.
Published 11 Oct, 2005 12:00am
Gold hits near 18-year high in Europe

Gold hits near 18-year high in Europe

Gold rose to a new near 18-year high in Europe on Monday, within reach of the next peak at $480 an ounce, on fund buying fuelled by inflation worries and strong physical demand.
Published 11 Oct, 2005 12:00am
EU offers farm tariff cuts, less subsidies

EU offers farm tariff cuts, less subsidies

The European Commission is ready to at least halve its highest tariffs on farm imports and has proposed potentially painful cuts for other countries as part of its plan to unblock a push for freer global trade.
Published 11 Oct, 2005 12:00am
New York cotton closes sharply up

New York cotton closes sharply up

Cotton futures surged to a strong close Monday on persistent speculative buying and talk over the weekend of a rise in domestic Chinese cotton prices, brokers said.
Published 11 Oct, 2005 12:00am
Oil eases as investors size up demand

Oil eases as investors size up demand

Oil eased further on Monday as investors continued to weigh evidence of demand destruction against lost energy supplies from the Gulf of Mexico and strike-hit French refineries ahead of winter.
Published 11 Oct, 2005 12:00am
London sugar closes higher

London sugar closes higher

London white sugar futures closed higher on trade and speculative buying on the back of the raw sugar market on Monday, and traders said cash sugar business had slowed down.
Published 11 Oct, 2005 12:00am
Copper slips

Copper slips

Copper prices ended off record highs set earlier in Monday's London Metal Exchange business, as buying interest petered out in low-key trade, dealers said.
Published 11 Oct, 2005 12:00am
Euro drifts down in London

Euro drifts down in London

The euro eased against the dollar on Monday, giving up earlier gains as investors questioned the reform drive of the new German government due to be formed by conservative leader Angela Merkel.
Published 11 Oct, 2005 12:00am
Pound struggles against euro

Pound struggles against euro

Sterling hit a two-month low against the euro on Monday and fell towards its lowest level versus the dollar since late July as investors remain concerned about the health of the British economy.
Published 11 Oct, 2005 12:00am
UK's top share index higher as commodities return to favour

UK's top share index higher as commodities return to favour

UK stocks ended higher on Monday, starting the week on an upbeat note after recent steep losses as confidence returned in the mining and energy sectors and as broker notes boosted media stocks Reuters and WPP.
Published 11 Oct, 2005 12:00am
General Motors euro bonds extend loss

General Motors euro bonds extend loss

General Motors euro bonds continued their decline on Monday, after former unit Delphi Corp filed for bankruptcy protection over the weekend, which could drain cash from the struggling car maker.
Published 11 Oct, 2005 12:00am
General Motors euro bonds extend loss

General Motors euro bonds extend loss

General Motors euro bonds continued their decline on Monday, after former unit Delphi Corp filed for bankruptcy protection over the weekend, which could drain cash from the struggling car maker.
Published 11 Oct, 2005 12:00am
India stocks down

India stocks down

The Mumbai stock exchange closed down 0.09 percent Monday with trading cautious ahead of quarterly earnings for major software firm Infosys Technologies, dealers said. The 30-share Sensex index fell 7.7 points or 0.09 percent to 8,483.86.
Published 11 Oct, 2005 12:00am
Suicide attacks kill 6 in Kandahar

Suicide attacks kill 6 in Kandahar

Two suicide explosions in the southern Afghan city of Kandahar on Monday killed six people and wounded eight, officials said. They said a suicide bomber blew himself up in the city centre, killing a senior anti-Taleban commander and three others.
Published 11 Oct, 2005 12:00am
US chopper crashes in Afghanistan

US chopper crashes in Afghanistan

A US military helicopter has crashed during an anti-militant operation in Afghanistan, but while the aircraft was a write-off there were no casualties, an American military spokesman said on Monday.
Published 11 Oct, 2005 12:00am
'Taiwan must stockpile better weapons'

'Taiwan must stockpile better weapons'

Taiwan's independence-leaning President Chen Shui-bian intensified on Monday calls for a massive arms build-up to thwart what he said was a growing military threat from China.
Published 11 Oct, 2005 12:00am
Britain seeks ban of 15 alleged terror groups

Britain seeks ban of 15 alleged terror groups

The British government on Monday published a list of 15 Muslim "terror" groups it has asked parliament to ban as part of a crackdown following the July bombings in London.
Published 11 Oct, 2005 12:00am
UK factory gate inflation highest in 5 months

UK factory gate inflation highest in 5 months

British factory gate prices rose at their sharpest rate in five months in September in a sign that inflationary pressures are picking up as firms try to pass on higher energy costs.
Published 11 Oct, 2005 12:00am
Europe must reform economy faster: Trichet

Europe must reform economy faster: Trichet

National governments in the euro zone must step up efforts to reform their economies or face slower growth in future, European Central Bank President Jean-Claude Trichet said on Monday.
Published 11 Oct, 2005 12:00am
OECD calls for jobs for older people to boost growth

OECD calls for jobs for older people to boost growth

Older people need to be helped to find jobs or to remain in work to avoid a fall in living standards and economic growth as a result of population ageing, the OECD said on Monday.
Published 11 Oct, 2005 12:00am
Yahoo launches new podcasting service

Yahoo launches new podcasting service

Yahoo Inc, the Internet giant, on Monday unveiled plans to get into podcasting with a test release of a service that will let users download and review online radio programs.
Published 11 Oct, 2005 12:00am
Fazio faces magistrates

Fazio faces magistrates

Bank of Italy Governor Antonio Fazio was questioned on Monday by magistrates investigating a bank take-over scandal that has prompted calls for his resignation and tainted Italy's image.
Published 11 Oct, 2005 12:00am
Saudi Arabia reforms set to boost growth: central bank

Saudi Arabia reforms set to boost growth: central bank

Saudi Arabia's economy, booming on the back of a two-year surge in world oil prices, is set for even faster growth as economic liberalisation and reforms begin to kick in, the central bank said on Monday.
Published 11 Oct, 2005 12:00am
French industrial output up

French industrial output up

French industrial output rose slightly more than expected in August but economists said the sector remained fragile and exports weak, in stark contrast to Germany.
Published 11 Oct, 2005 12:00am
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