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Print - 2005-10-23
Cotton prices up marginally in selective buying

Cotton prices up marginally in selective buying

Prices showed slight improvement in the cotton market on Saturday as the mills continued selective buying due to higher trend in the prices, relevant sources said.
Published 23 Oct, 2005 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Rice prices appreciated on the grain market on Saturday as needy buyers continued purchasing to meet the special arrangements during the month of Ramazan, dealers said.
Published 23 Oct, 2005 12:00am
Canada looks to ease Pacific port congestion

Canada looks to ease Pacific port congestion

Canada pledged on Friday to spend up to C$590 million ($496.8 million) to improve shipping through its Pacific coast ports as it eyes increased trade with Asia and China.
Published 23 Oct, 2005 12:00am
Tea prices down on Jodia Bazar

Tea prices down on Jodia Bazar

The trading on tea sector moved downward on Jodia Bazar on Saturday. The following changes were seen in the China Green 9380 down Rs 2 to Rs 30, Good PF down Rs 26 to Rs 50, Rwanda PFI (CTC) down Rs 10 to Rs 135, BPI (CTC) down Rs 5 to Rs 155 and PD (CTC)
Published 23 Oct, 2005 12:00am
Asian freight rates ease but hold near four month high

Asian freight rates ease but hold near four month high

Freight rates from the US Gulf to Asia edged down but held near a four-month high on Tuesday as prospects of rising demand towards the year-end kept ship owners keen to raise offers, brokers said.
Published 23 Oct, 2005 12:00am
Singapore bunker fuel prices decline

Singapore bunker fuel prices decline

Singapore bunker prices fell on Friday, tracking lower fuel oil cargoes and crude, as the bunker premium eased further. Prices for 380-centistoke (cst) bunker fuel were pegged at $317-$319 a tonne, down $3 from the previous day, with the bunker premium -
Published 23 Oct, 2005 12:00am
Brazilian sugar vessels lineup rises

Brazilian sugar vessels lineup rises

The lineup of vessels to load sugar in Brazilian ports rose to 43 from 40 last week, shipping agent Williams said. Williams said in a weekly report that 19 vessels were lined up in the southern port of Santos, down from 22 last week. In Paranagua, there w
Published 23 Oct, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 65,256 tonnes of cargo including 49,668 tonnes import and 15,588 tonnes export cargo including 2,934 containers during last 24 hours ending at 0700 hours on Saturday.
Published 23 Oct, 2005 12:00am
Indian tea output rises

Indian tea output rises

Tea production in India, the world's largest producer, rose 8 percent to 533 million kgs between January and August from 493 million kgs in the same period a year ago, the state-run Tea Board said on Friday.
Published 23 Oct, 2005 12:00am
Gold rebounds in New York

Gold rebounds in New York

Gold rebounded on Friday in New York on bargain hunting by consumers and bullish investors, enjoying extra buying late in the session from a bomb scare near the US Capitol building in Washington D.C.
Published 23 Oct, 2005 12:00am
Asian rubber: several deals done, prices seen high

Asian rubber: several deals done, prices seen high

Asia rubber prices took on a firmer tone on Friday after several deals were done overnight and prices are likely to stay high in the next week with rains and festivals keeping a grip on supply.
Published 23 Oct, 2005 12:00am
New York sugar higher

New York sugar higher

Raw sugar prices closed Friday near session highs due to late speculative short-covering, although the sweetener is still mired in a band and would need fresh leads next week, brokers said.
Published 23 Oct, 2005 12:00am
Australian wool prices hold firm

Australian wool prices hold firm

Australian wool prices ended virtually unchanged this week, after good competition in the sale room and a continuing trend of good clearances.
Published 23 Oct, 2005 12:00am
Shanghai copper falls

Shanghai copper falls

Chinese copper futures fell on Friday as global futures retreated from a historic high of $4,018 a tonne hit during London trade on Thursday.
Published 23 Oct, 2005 12:00am
Soybeans slide on technical breakdown

Soybeans slide on technical breakdown

Soybean futures at the Chicago Board of Trade tumbled on Friday in a technical breakdown, with November slipping below $5.76-1/2 support and filling a chart gap left open following last week's rally after USDA's crop report, traders said.
Published 23 Oct, 2005 12:00am
Copper slides on long liquidation

Copper slides on long liquidation

US copper futures were sold heavily in a bout of fund-led long liquidation Friday, after a slide in crude oil prices undermined holdings in several commodity markets, traders said.
Published 23 Oct, 2005 12:00am
CBOT rice slips

CBOT rice slips

Rough rice futures at the Chicago Board of Trade closed lower on Friday on follow-through technical selling, traders said. November rice settled 4 cents lower at $7.27 per hundredweight, with the back months 4 to 5 cents weaker Sell-stops were hit in Nove
Published 23 Oct, 2005 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin rose almost 1 percent on Friday after European buyers monopolised the market, snapping up a limited volume offered by sellers.
Published 23 Oct, 2005 12:00am
Wal-Mart keeps October sales forecast

Wal-Mart keeps October sales forecast

Wal-Mart Stores Inc on Saturday maintained its October sales forecast and said demand was strongest in the US Southeast, where Florida residents were bracing for Hurricane Wilma.
Published 23 Oct, 2005 12:00am
Wal-Mart keeps October sales forecast

Wal-Mart keeps October sales forecast

Wal-Mart Stores Inc on Saturday maintained its October sales forecast and said demand was strongest in the US Southeast, where Florida residents were bracing for Hurricane Wilma.
Published 23 Oct, 2005 12:00am
Indonesia to raise $277.2 million in bank sales

Indonesia to raise $277.2 million in bank sales

Indonesia's government hopes to raise 2.8 trillion rupiah ($277.2 million) from the sale of 10 percent of the country's largest lender, PT Bank Mandiri Tbk, the state enterprise minister said on Saturday.
Published 23 Oct, 2005 12:00am
Telecom CEO sued, allegedly ducked stripper tab

Telecom CEO sued, allegedly ducked stripper tab

One visit to a strip club by the chief executive of telecoms carrier Savvis Communications Corp has landed him and the company with a potential image problem and a lawsuit from American Express Co for allegedly not paying a $241,000 tab.
Published 23 Oct, 2005 12:00am
China raises personal income tax cut-off

China raises personal income tax cut-off

China has set 1,600 yuan ($198) per month as the new point above which residents must start paying personal income tax, raising the cut-off from a previous 800 yuan, the official Xinhua news agency said on Saturday.
Published 23 Oct, 2005 12:00am
Taiwan to make its own Tamiflu

Taiwan to make its own Tamiflu

Taiwan is ready to produce its own Tamiflu, the antiviral avian flu drug, and will not let patent talks with Swiss drug maker Roche AG stand in the way, officials said.
Published 23 Oct, 2005 12:00am
More cases found in Russia

More cases found in Russia

Russian vets have found bird flu in a village in the southern Urals and suspected an outbreak of the disease in an neighbouring region, the emergency ministry said on Saturday.
Published 23 Oct, 2005 12:00am
China to shut borders if bird flu mutates

China to shut borders if bird flu mutates

China will close its borders if it finds a single case of human-to-human transmission of bird flu there, a Hong Kong newspaper reported on Saturday, while a defiant Taiwan said it would copy a patented antiviral drug.
Published 23 Oct, 2005 12:00am
Risk of flu pandemic a shadow on world economy

Risk of flu pandemic a shadow on world economy

The global economy has absorbed repeated shocks over the past few years from a stock market crash, two big wars, a doubling of oil prices and serial natural disasters. But all that would pale in comparison to a worst-case influenza pandemic.
Published 23 Oct, 2005 12:00am
Shoring up right flank, Bush deplores 'too many' illegals

Shoring up right flank, Bush deplores 'too many' illegals

US President George W. Bush sought Saturday to woo back his disenchanted conservative allies as he admitted having a problem with "too many illegal immigrants," but he also revived his pitch for a guest worker programme favoured by corporations.
Published 23 Oct, 2005 12:00am
China tourism officials to visit Taiwan

China tourism officials to visit Taiwan

A delegation led by China's top official in charge of tourism will visit Taiwan next week in a sign of a thaw in bilateral relations, the island's Mainland Affairs Council said on Saturday.
Published 23 Oct, 2005 12:00am
North Korea will come around despite biz spat: former Kim

North Korea will come around despite biz spat: former Kim

A former executive at the centre of a spat between North Korea and a South Korean firm said on Saturday Pyongyang would eventually come around and resume work with the company that does most commerce there.
Published 23 Oct, 2005 12:00am
Oil exports resume at Nigerian terminal

Oil exports resume at Nigerian terminal

Oil exports from Nigeria's 240,000 barrels per day (bpd) Brass River tanker terminal resumed on Saturday after protesting unions reached a deal with Italian energy giant Agip, a unit of ENI, a ship agent said.
Published 23 Oct, 2005 12:00am
Canadian bond prices up

Canadian bond prices up

The Canadian domestic bond prices strengthened for the second straight day on Friday as the retail sales weakness prompted buying after several weeks of declines.
Published 23 Oct, 2005 12:00am
Canadian bond prices up

Canadian bond prices up

The Canadian domestic bond prices strengthened for the second straight day on Friday as the retail sales weakness prompted buying after several weeks of declines.
Published 23 Oct, 2005 12:00am
CBOT may pave way for more exchange IPOs

CBOT may pave way for more exchange IPOs

After watching shares of CBOT Holdings Inc more than double in value in their first days of trading, officials at rival exchanges that are still privately held may feel it's time for an initial public offering of their own, experts said.
Published 23 Oct, 2005 12:00am
Argentine stocks jump

Argentine stocks jump

Argentine stocks rebounded to close higher on Friday, buoyed by gains in Brazilian markets, traders said. The MerVal index of 12 leading stocks rose 1.29 percent to close at 1,593.11 points, finishing the week off 0.66 percent. The index has shed 6 percen
Published 23 Oct, 2005 12:00am
Brazilian stocks rise

Brazilian stocks rise

Brazil's stocks rose almost 3 percent on Friday recouping some recent losses. The Bovespa index of the Sao Paulo Stock Exchange closed 2.93 percent higher at 29,175.79 points after slipping 3.25 percent on Thursday and posting losses of more than 10 perce
Published 23 Oct, 2005 12:00am
US Treasuries rally as technicals encourage bulls

US Treasuries rally as technicals encourage bulls

US Treasury debt posted solid price gains on Friday as benchmark yields breached key technical levels and investors tested the lower boundaries of a recent range.
Published 23 Oct, 2005 12:00am
US Treasuries rally as technicals encourage bulls

US Treasuries rally as technicals encourage bulls

US Treasury debt posted solid price gains on Friday as benchmark yields breached key technical levels and investors tested the lower boundaries of a recent range.
Published 23 Oct, 2005 12:00am
Saudi stocks may bounce back on liquidity

Saudi stocks may bounce back on liquidity

High liquidity may push the Saudi bourse back up in the coming week, after blue chips had eased on results reflecting slower earnings growth, analysts said.
Published 23 Oct, 2005 12:00am
American credit market outlook

American credit market outlook

Credit investors on Friday continued to bet large sums of money that General Motors will restore its GMAC finance arm to investment-grade status by selling a controlling stake to a big financial company with strong credit.
Published 23 Oct, 2005 12:00am
American credit market outlook

American credit market outlook

Credit investors on Friday continued to bet large sums of money that General Motors will restore its GMAC finance arm to investment-grade status by selling a controlling stake to a big financial company with strong credit.
Published 23 Oct, 2005 12:00am
Eurostocks: earnings boost needed to lift markets

Eurostocks: earnings boost needed to lift markets

European stocks, trading near two-month lows, will take direction from a flood of results next week, including from the oil and gas sector, even as inflation fears stoke worries of higher interest rates.
Published 23 Oct, 2005 12:00am
Toronto stocks surge to end volatile week

Toronto stocks surge to end volatile week

Toronto stocks rebounded with the help of resurgent gold and energy issues on Friday to wrap up a volatile week with a 100-point gain after plunging 235 points in the previous session.
Published 23 Oct, 2005 12:00am
Chile stocks end mixed

Chile stocks end mixed

Chilean stocks closed narrowly mixed on Friday, as gains by dominant carrier LAN Airlines and the country's main telephone company Telefonica CTC helped the market reverse early losses.
Published 23 Oct, 2005 12:00am
Mexican stocks soar

Mexican stocks soar

Mexican stocks ended up 0.56 percent on Friday after zigzagging for most of the session, with building company CICSA, owned by billionaire Carlos Slim, stealing the limelight on its market debut.
Published 23 Oct, 2005 12:00am
Dow hit by Caterpillar, Nasdaq rallies with Google

Dow hit by Caterpillar, Nasdaq rallies with Google

The blue chip Dow average fell on Friday as heavy equipment maker Caterpillar Inc posted disappointing earnings and cut its profit outlook, while tech stocks gained as Web-search company Google Inc reported better-than-expected results.
Published 23 Oct, 2005 12:00am
Dollar gains in New York as market eyes US interest rates

Dollar gains in New York as market eyes US interest rates

The dollar climbed on Friday as the market bought the currency ahead of the weekend based on expectations for higher US interest rates after an investment bank raised their target for the benchmark federal funds rate.
Published 23 Oct, 2005 12:00am
Brazilian real weakens

Brazilian real weakens

Brazil's currency weakened on Friday after the central bank bought dollars on the foreign exchange market. Higher interest rates in the world's biggest economy are potentially damaging for riskier assets in emerging countries like Brazil.
Published 23 Oct, 2005 12:00am
Forex market views, key levels

Forex market views, key levels

Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
Published 23 Oct, 2005 12:00am
Canadian dollar eases

Canadian dollar eases

The Canadian dollar eased against the US currency on Friday after a mixed domestic retail sales report for August, although losses were capped because the broader economic picture was unchanged.
Published 23 Oct, 2005 12:00am
Jayasuriya in injury scare ahead of Indian series

Jayasuriya in injury scare ahead of Indian series

Sri Lanka all-rounder Sanath Jayasuriya retired with a painful right arm while batting in a warm-up game on Saturday raising concerns over his fitness two days before the start of a one-day series in India.
Published 23 Oct, 2005 12:00am
England's security experts to review venues

England's security experts to review venues

Two security experts from England will arrive in Pakistan on Sunday to review safety arrangements for next month's Test and one-day series between the countries, a Pakistan Cricket Board (PCB) official said.
Published 23 Oct, 2005 12:00am
Molik not retiring

Molik not retiring

Australian Alicia Molik has ruled out playing in January's Australian Open but has made no decision about quitting tennis altogether, her management said on Saturday.
Published 23 Oct, 2005 12:00am
Schnyder ends run of Ivanovic

Schnyder ends run of Ivanovic

Patty Schnyder ended the run of Serb teenager Ana Ivanovic to reach the final of the 1.3-million-dollar Zurich Open here on Saturday.
Published 23 Oct, 2005 12:00am
Hewitt clinches ATP Masters Cup berth

Hewitt clinches ATP Masters Cup berth

Australian Lleyton Hewitt has secured his berth in the Tennis Masters Cup in Shanghai, the 4.45 million-dollar circuit finale, the ATP said on Friday.
Published 23 Oct, 2005 12:00am
Nadal nails down final with victory over Ginepri

Nadal nails down final with victory over Ginepri

Rafael Nadal moved to within one win of his 11th title of the season on Saturday, slamming American Robby Ginepri 7-5, 7-6 (7/1) in the semi-finals of the 2.1-million-euro Madrid Masters.
Published 23 Oct, 2005 12:00am
Woods in danger of missing cut

Woods in danger of missing cut

World No 1 Tiger Woods appeared headed for a rare early exit when play was halted for the day on Friday after a rain delay in the second round of the 4.4 million-dollar Funai classic.
Published 23 Oct, 2005 12:00am
India set for wake-up call as coach dreams of 2007

India set for wake-up call as coach dreams of 2007

India coach Greg Chappell's attempt to build a team for the 2007 World Cup faces a stern test as Sri Lanka and South Africa come calling for 12 one-day matches over the next one month.
Published 23 Oct, 2005 12:00am
Rumsfeld praises Mongolia for Iraq, Afghan help

Rumsfeld praises Mongolia for Iraq, Afghan help

US Defence Secretary Donald Rumsfeld on Saturday praised the "political courage and personal courage" of Mongolia and its troops serving in Iraq and Afghanistan.
Published 23 Oct, 2005 12:00am
Nine cops, four Taleban killed

Nine cops, four Taleban killed

Nine Afghan police and four Taleban guerrillas have been killed in a clash in a restive southern province, a government official said on Saturday.
Published 23 Oct, 2005 12:00am
Saudi king appoints brother as intelligence chief

Saudi king appoints brother as intelligence chief

Saudi King Abdullah appointed on Saturday his younger half-brother as head of intelligence services in the oil-rich kingdom which has been battling Islamist violence.
Published 23 Oct, 2005 12:00am
Sistani backs reconciliation drive

Sistani backs reconciliation drive

A push by the Cairo-based Arab League to gather Iraq's divided factions for a national reconciliation conference gained momentum on Saturday after Iraq's top Shia cleric gave his blessing to the initiative.
Published 23 Oct, 2005 12:00am
US forces kill 20 insurgents in Iraq

US forces kill 20 insurgents in Iraq

US forces in Iraq killed 20 insurgents on Saturday near the Syrian border while conducting raids on houses believed to be hideouts for al Qaeda foreign fighters, the US military said.
Published 23 Oct, 2005 12:00am
'No sign of serious Iraq vote violations'

'No sign of serious Iraq vote violations'

The Independent Electoral Commission of Iraq said on Saturday it had found no instances of serious fraud in an October 15 constitutional referendum and was still verifying some results only because of statistical issues.
Published 23 Oct, 2005 12:00am
Floods kill 10 in eastern India

Floods kill 10 in eastern India

Tens of thousands of people were marooned by flooding in eastern India on Saturday after three days of torrential rains that killed at least 10 people, officials said.
Published 23 Oct, 2005 12:00am
Syria to cooperate

Syria to cooperate

Syria said on Saturday it might allow UN investigators to quiz Syrian officials and denied it had not co-operated fully with the probe into the killing of former Lebanese Prime Minister Rafik al-Hariri.
Published 23 Oct, 2005 12:00am
Hariri's son wants killers to face world court

Hariri's son wants killers to face world court

The son of slain former Lebanese Prime Minister Hariri's Rafik al-Hariri called on Saturday for an international court to punish his killers as pressure mounted on Syria after a damning UN probe into the murder.
Published 23 Oct, 2005 12:00am
Hariri's son wants killers to face world court

Hariri's son wants killers to face world court

The son of slain former Lebanese Prime Minister Hariri's Rafik al-Hariri called on Saturday for an international court to punish his killers as pressure mounted on Syria after a damning UN probe into the murder.
Published 23 Oct, 2005 12:00am
Hurricane Wilma pounds Mexico's Yucatan

Hurricane Wilma pounds Mexico's Yucatan

Hurricane Wilma relentlessly pounded Mexico's Caribbean coast on Saturday, destroying homes and flooding beach resorts as it meandered slowly over the Yucatan peninsula.
Published 23 Oct, 2005 12:00am
Drug peddler arrested

Drug peddler arrested

The Anti-Narcotics Force (ANF) Punjab has arrested a drug peddler, with a sizeable quantity of charas, weighing 40 kilogram, in the provincial metropolis. He was carrying the drugs on his motorbike.
Published 23 Oct, 2005 12:00am
Abducted boy recovered; kidnappers held

Abducted boy recovered; kidnappers held

Shayan, a student of primary section, who was kidnapped eleven days back near Makki Hospital Peoples Colony, returned home safely, here Friday night, after payment of rupees five million.
Published 23 Oct, 2005 12:00am
Commuters left at mercy of rude transporters

Commuters left at mercy of rude transporters

The commuters travelling between the twin cities have been left at the mercy of the rude transporters, who are humiliating them and charging extra payment, while traffic police have miserably failed to overcome the problems of overloading and misbehaviour
Published 23 Oct, 2005 12:00am
Shoe expo on October 24

Shoe expo on October 24

Services Sales Corporation will launch a shoe expo and sale centre to be called 'Shoe Planet' here on October 24, in which eight manufacturers have joined hands as brand partners. Chaudhry Ahmad Javed, CEO Services Sales Corporation will be the chief gues
Published 23 Oct, 2005 12:00am
Government urged to discourage raw material export

Government urged to discourage raw material export

Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) has decided to hire foreign consultants in active collaboration with Export Promotion Bureau (EPB) for the advanced packaging and marketing of country's export-oriented garments
Published 23 Oct, 2005 12:00am
Air China slaps extra fee on travel to Pakistan

Air China slaps extra fee on travel to Pakistan

Air China has announced that the passengers who take flights to Asia-Pacific region, Karachi, a port city of Pakistan and Kathmandu, capital of Nepal, will pay extra 13.6 dollars for the additional fees on jet fuel.
Published 23 Oct, 2005 12:00am
KESC body reviews ongoing improvement schemes

KESC body reviews ongoing improvement schemes

KESC City Co-ordination Committee that met here Saturday with the In-charge Distribution, Jamil Gul Shaikh in the chair, reviewed the progress of ongoing system improvement schemes during July-September to upgrade the city's power supply system.
Published 23 Oct, 2005 12:00am
Rs 80 million centre for sports goods industry planned

Rs 80 million centre for sports goods industry planned

The Punjab Small Industries Corporation (PSIC) has prepared a multi-dimensional plan to set up 'Product Development Centre (PDC) here for sports goods industry costing Rs 80 million.
Published 23 Oct, 2005 12:00am
'PN rendering all help to quake-hit victims'

'PN rendering all help to quake-hit victims'

Chief of Naval Staff Admiral Muhammad Afzal Tahir on Saturday said that Pakistan Navy is rendering every assistance to the quake-affected people.
Published 23 Oct, 2005 12:00am
Our moral duty

Our moral duty

The northern areas of Pakistan and Azad Kashmir have recently undergone an unprecedented natural calamity, one shudders to think of. It has sent a wave of gloom and the heart of every Pakistani is bleeding.
Published 23 Oct, 2005 12:00am
Clifton underpass

Clifton underpass

Now that the Clifton underpass has attained completion, I would like to draw the attention of authorities concerned to the following points which need their consideration.
Published 23 Oct, 2005 12:00am
The poor waiters

The poor waiters

As the population grows in the Capital City, incidents of violence, aggression and abuse against the poor, in particular, have increased, which are frequently being displayed on roads, in markets and in homes.
Published 23 Oct, 2005 12:00am
Preacher boy delivers the good word in the mosques of Gaza

Preacher boy delivers the good word in the mosques of Gaza

Robed in a white tunic, his head wrapped in a turban, the tiny figure climbs the steps one by one to the pulpit to address the congregation. Amjad Abu Sidu is only 13 years old and already has the makings of a preacher who can leave his congregation spell
Published 23 Oct, 2005 12:00am
Time to brace for flu pandemic

Time to brace for flu pandemic

It is horrifying to learn from a news report that Thailand reported its first human fatality from Bird Flu in a year, on October 20, as the world mobilised to battle a virulent strain of the virus still multiplying in Asia and lately spreading to Europe.
Published 23 Oct, 2005 12:00am
Lowering HSD price

Lowering HSD price

According to a report in this paper the other day, the government is thinking of reducing import duty on high-speed diesel (HSD) oil from the current 10 percent to five percent.
Published 23 Oct, 2005 12:00am
Prices of daily use items stabilise

Prices of daily use items stabilise

Sale of essential items in Sastay Ramazan Bazars at concessional rates was continuing in various districts of the province and prices of daily use articles have stabilised.
Published 23 Oct, 2005 12:00am
'Private sector to be involved in water projects'

'Private sector to be involved in water projects'

City government of Rawalpindi is planning to involve private sector in the process of provision of clean drinking water to people, said Sheikh Rashid Shafiq, City Nazim, Rawal Town while talking to reporters here on Saturday.
Published 23 Oct, 2005 12:00am
Reference against Wattoo

Reference against Wattoo

An accountability court called for witnesses on November 7 in a reference against former Chief Minister Punjab Mian Manzoor Ahmed Wattoo for regular trial against him. The accused has opposed the charges against him and decided to contest the trial.
Published 23 Oct, 2005 12:00am
Government starts distributing compensation to quake victims

Government starts distributing compensation to quake victims

The NWFP government has constituted teams to verify the number of deaths and injured for compensation whereas it has started distributing the compensation in Abbottabad district while in Mansehra it is yet to be started.
Published 23 Oct, 2005 12:00am