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Print - 2005-10-29
Key stock market movements at 1700 GMT on October 28

Key stock market movements at 1700 GMT on October 28

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 29 Oct, 2005 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (October 28, 2005) and Saturday (October 29, 2005).
Published 29 Oct, 2005 12:00am
Worldcall and Mobilink sign accord

Worldcall and Mobilink sign accord

Worldcall and Mobilink signed interconnect agreement for bilateral exchange of traffic and services. The physical connectivity has been established in Lahore, Karachi, Faisalabad and Islamabad.
Published 29 Oct, 2005 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (October 28, 2005).

Published 29 Oct, 2005 12:00am
Prime Minister commends world support for quake victims

Prime Minister commends world support for quake victims

A two-member delegation comprising Bishop Michael Nazir Ali, Member House of Lords and Bishop of Rochester and Bishop Azad Marshal Bishop of Gulf and Iran called on Prime Minister Shaukat Aziz here on Friday.
Published 29 Oct, 2005 12:00am
British MPs call on Prime Minister

British MPs call on Prime Minister

Prime Minister Shaukat Aziz has appreciated the support provided by the government and non-governmental organisations of UK and the European Union for earthquake-affected areas of Pakistan.
Published 29 Oct, 2005 12:00am
Literacy rate still below PRSP target

Literacy rate still below PRSP target

Literacy rate (10 years and older) has increased substantially from 16.7 percent in 1961 to 53 percent in 2004-05, but it is still below the PRSP target of 58 percent for 2004-05. The MDG target is to increase the literacy rate to 88 percent by 2015.
Published 29 Oct, 2005 12:00am
LCCI and Wapda pledge to resolve traders' problems

LCCI and Wapda pledge to resolve traders' problems

The LCCI-Wapda Dispute Resolving Committee on Friday pledged to solve all the issues and problems facing the business community amicably. The meeting, which was jointly chaired by the Lesco chief Akram Arian and LCCI president Mian Shafqat Ali, also decid
Published 29 Oct, 2005 12:00am
Prayers for safety in Friday congregations

Prayers for safety in Friday congregations

Large numbers of faithful attended the Friday Prayers and prayed for the relief and succour of the quake-affected in the country as also for the safety of the whole nation in view of continued aftershocks that are being felt frequently.
Published 29 Oct, 2005 12:00am
PhD degree awarded

PhD degree awarded

Punjab University has awarded PhD degree to Muhammad Asghar Sultan, son of Hidayat Ali, on his paper titled "Biochemical study of hormone receptors in diabetes mellitus," accomplished under the supervision of School of Biological Sciences, PU.
Published 29 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 29 Oct, 2005 12:00am
AETO dismissed, another reverted

AETO dismissed, another reverted

With a view to ensuring good governance, the excise & taxation department has taken action against some officers of the department. A spokesman of the E&T department said here on Friday that Assistant Excise & Taxation Officer (AETO) Pakpattan, Maqsood Pe
Published 29 Oct, 2005 12:00am
New York cotton

New York cotton

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

Published 29 Oct, 2005 12:00am
The Weather

The Weather

The weather report on Friday (October 28, 2005) and the forecast for Saturday (October 29, 2005).
Published 29 Oct, 2005 12:00am
Jumatul Wida observed with religious zeal

Jumatul Wida observed with religious zeal

Muslims in Pakistan and elsewhere in the world offered last Friday of the holy month of Ramazan [Jumatul Wida] with religious fervour amid emotional prayers for Muslim Ummah and the success of its causes.
Published 29 Oct, 2005 12:00am
Entire family killed in road mishap

Entire family killed in road mishap

A family of four member died when a Shujabad bound bus crushed a motorcyclist in Lodhran on Thursday. Muhammad Qasim and his two children Abdullah and Aqsa died on the spot while his wife Hafeezan Bibi died in Bahawa Victoria Hospital, Bahawalpur on Frida
Published 29 Oct, 2005 12:00am
Girl among 4 killed in various mishaps

Girl among 4 killed in various mishaps

Four persons including a girl were killed, while more than one dozen injured, two of them seriously in various road mishaps. First accident took place in Ghulam Muhammadabad Colony, where Samual Masih and his younger sister were crushed to death by an urb
Published 29 Oct, 2005 12:00am
NWFP needs Rs 5 billion to rebuild health facilities

NWFP needs Rs 5 billion to rebuild health facilities

The devastated October 8 earthquake has played havoc with the health facilities in the five worst affected districts of the North West Frontier Province (NWFP) and their reconstruction would require an amount of Rs 5 billion.
Published 29 Oct, 2005 12:00am
Task force formed to cleanse NTN database

Task force formed to cleanse NTN database

The Central Board of Revenue (CBR) has identified serious discrepancies in the National Tax Number (NTN) database, and has constituted a task force to start cleansing data of those taxpayer who have either closed their business or are not operating, for a
Published 29 Oct, 2005 12:00am
THE RUPEE: dollar sheds five paisa more in open market

THE RUPEE: dollar sheds five paisa more in open market

Rupee's appreciation versus the dollar persisted in the currency market on Friday owing to significant supply of the US currency, Syed Nabeel Iqbal, the Marketing Manager of the Khanani and Kalia International said.
Published 29 Oct, 2005 12:00am
Benazir to attend world leaders' moot

Benazir to attend world leaders' moot

Pakistan Peoples Party (PPP) Chairperson and former Prime Minister Benazir Bhutto will attend the world leadership summit in Abu Dhabi on November 15. Former US President Bill Clinton and other world leaders would also attend the moot.
Published 29 Oct, 2005 12:00am
'Rehabilitation work to take 10 years'

'Rehabilitation work to take 10 years'

Makhdoom Javed Hashmi, acting chief of Pakistan Muslim League (N) has asked the opposition parties not to participate in the All Parties Conference convened by the ruling Muslim League at the behest of General Pervez Musharraf and put pressure on the rule
Published 29 Oct, 2005 12:00am
Housing demand may rise

Housing demand may rise

With an annual shortfall of 270,000 housing units, the demand of housing may now rise after the October 8 earthquake, which has left 3.3 million people homeless in Northern Areas and AJK. On an annual basis, Pakistan needs 570,000 units against the actual
Published 29 Oct, 2005 12:00am
31 firms blacklisted for filing fake sales tax invoices

31 firms blacklisted for filing fake sales tax invoices

The Faisalabad Sales Tax Collectorate has blacklisted 31 firms on charges of filing bogus or unconfirmed sales tax invoices, said Collector Shafqat Mahmood while addressing an Iftar party by Pakistan Textile Exporters Association (PETA) here on Thursday e
Published 29 Oct, 2005 12:00am
President supports Nepal's sovereignty

President supports Nepal's sovereignty

President General Pervez Musharraf has reaffirmed Pakistan's continued support for Nepal's unity, territorial integrity and sovereignty as well as its economic development and thanked the South Asian country for extending assistance to Pakistan's earthqua
Published 29 Oct, 2005 12:00am
THE RUPEE: dollar sheds five paisa more in open market

THE RUPEE: dollar sheds five paisa more in open market

Rupee's appreciation versus the dollar persisted in the currency market on Friday owing to significant supply of the US currency, Syed Nabeel Iqbal, the Marketing Manager of the Khanani and Kalia International said.
Published 29 Oct, 2005 12:00am
Juma-tul-Wida observed with religious fervour

Juma-tul-Wida observed with religious fervour

The nation observed Juma-tul-Wida (the last Friday of the holy month of Ramazan) with religious zeal and fervour throughout the country. Large congregations were held at mosques where the faithful offered prayers.
Published 29 Oct, 2005 12:00am
'Government in contact with opposition for APC'

'Government in contact with opposition for APC'

The government is planning to hold an all parties conference (APC) to discuss the relief and rehabilitation task in the earthquake affected areas and the opposition parties are being contacted in this regard.
Published 29 Oct, 2005 12:00am
Work on optical fibre cable on October 30

Work on optical fibre cable on October 30

Pakistan Telecommunication Limited will carry out development work on its spur optical fibre cable on October 30, at OFS terminal Abbottabad from 12:00 hours to 02:00 hours.
Published 29 Oct, 2005 12:00am
Quake toll tops 55,000: Sherpao

Quake toll tops 55,000: Sherpao

The death toll from the October 8 massive earthquake has increased to 55,000 and is likely to rise, Interior Minister Aftab Ahmad Khan Sherpao said here on Friday.
Published 29 Oct, 2005 12:00am
Cabinet panel raises Rs 8.4 billion for relief work

Cabinet panel raises Rs 8.4 billion for relief work

The Cabinet Committee on Fund Raising has mobilised Rs 8.4 billion from 239 business groups for earthquake relief fund, said Federal Minister for Privatisation and Investment Dr Abdul Hafeez Shaikh.
Published 29 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 28, 2005).

Published 29 Oct, 2005 12:00am
October 8 quake bigger than tsunami: Crocker

October 8 quake bigger than tsunami: Crocker

The US Ambassador in Pakistan Ryon C Crocker termed the earthquake in Azad Kashmir and NWFP as bigger than Tsunami disaster and said it needed a long-term planning to rehabilitate of the quake victims. He was talking to newsmen after visiting the earthqua
Published 29 Oct, 2005 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 28, 2005).

Published 29 Oct, 2005 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (October 28, 2005).

Published 29 Oct, 2005 12:00am
SECP raises housing loan limit to Rs 20 million

SECP raises housing loan limit to Rs 20 million

The Securities and Exchange Commission of Pakistan (SECP) has made changes in the laws pertaining for non-banking finance companies, conducting housing finance. Such companies have been asked to raise the maximum limit of loan to Rs 20 million.
Published 29 Oct, 2005 12:00am
South African maize prices dip

South African maize prices dip

South African maize prices dipped on Friday on forecasts for rain over the key breadbasket of the Free State province but losses were capped by a softer rand and the fact that little if any planting has started.
Published 29 Oct, 2005 12:00am
KESC not to raise tariff

KESC not to raise tariff

The Karachi Electric Supply Corporation (KESC) would not increase power tariff as the raise due to increase in 'fuel adjustment prices' is being picked by the federal government, a KESC spokesman said on Friday.
Published 29 Oct, 2005 12:00am
KESC not to raise tariff

KESC not to raise tariff

The Karachi Electric Supply Corporation (KESC) would not increase power tariff as the raise due to increase in ''fuel adjustment prices'' is being picked by the federal government, a KESC spokesman said on Friday.
Published 29 Oct, 2005 12:00am
Philippines faces hurdles in transonic rice push

Philippines faces hurdles in transonic rice push

A plan by the Philippines to become one of the first nations to introduce genetically modified rice may be delayed by several years, despite an aggressive start.
Published 29 Oct, 2005 12:00am
Only Nato engineers and doctors allowed: Shaukat

Only Nato engineers and doctors allowed: Shaukat

Prime Minister Shaukat Aziz on Friday brushed aside the opposition's criticism that North Atlantic Treaty Organisation troops had been allowed, saying Nato was permitted to send only doctors and engineers for relief and rehabilitation work.
Published 29 Oct, 2005 12:00am
CBOT rice firm

CBOT rice firm

Chicago Board of Trade rough rice futures closed higher on Thursday on a technical bounce after falling about 40 cents per hundredweight since mid-October, traders said.
Published 29 Oct, 2005 12:00am
Only Nato engineers and doctors allowed: Shaukat

Only Nato engineers and doctors allowed: Shaukat

Prime Minister Shaukat Aziz on Friday brushed aside the opposition's criticism that North Atlantic Treaty Organisation troops had been allowed, saying Nato was permitted to send only doctors and engineers for relief and rehabilitation work.
Published 29 Oct, 2005 12:00am
Soya ends steady

Soya ends steady

Soyabean futures at the Chicago Board of Trade closed steady on Thursday in quiet trade, supported by strength in soyabean meal on smaller-than-expected US soyameal stocks reported by the US Census Bureau, traders said.
Published 29 Oct, 2005 12:00am
No plan to stay long: Nato

No plan to stay long: Nato

Nato insisted on Friday its support for relief efforts in Pakistan was only a short-term mission after local opposition leaders raised concerns about the presence of foreign forces on Pakistan's soil.
Published 29 Oct, 2005 12:00am
New York sugar ends steady

New York sugar ends steady

Raw sugar prices closed flat on Thursday in a range-bound session featuring small speculators, with operators saying the market will likely stay in a band due to a dearth of leads, brokers said.
Published 29 Oct, 2005 12:00am
No plan to stay long: Nato

No plan to stay long: Nato

Nato insisted on Friday its support for relief efforts in Pakistan was only a short-term mission after local opposition leaders raised concerns about the presence of foreign forces on Pakistan's soil.
Published 29 Oct, 2005 12:00am
Vietnam rice output may fall

Vietnam rice output may fall

Vietnam's rice output will fall to 35.8 million tonnes this year from an earlier expected volume of 36.9 million as Typhoon Damrey, which swept through Vietnam last month, destroyed crop in large areas, a government adviser said.
Published 29 Oct, 2005 12:00am
Nato airlifts 450 tons of UN aid

Nato airlifts 450 tons of UN aid

Nato airplanes have transported some 450 tons of UNHCR aid to quake-stricken Pakistan from a military base in southern Turkey, the UN refugee agency said here Friday.
Published 29 Oct, 2005 12:00am
Food stamps tabbed for one-fourth of USDA cuts

Food stamps tabbed for one-fourth of USDA cuts

Food stamps, the major US antihunger program, would bear one-fourth of $3.7 billion in Agriculture Department budget cuts under a package unveiled by a senior House Republican on Thursday.
Published 29 Oct, 2005 12:00am
Iraq conflict and aftermath has cost UK 3.1 billion pounds

Iraq conflict and aftermath has cost UK 3.1 billion pounds

British involvement in Iraq has so far cost the country nearly 3.1 billion pounds (4.56 billion euro, 5.4 billion dollar) up to the end of March this year, the Ministry of Defence (MoD) said on Friday.
Published 29 Oct, 2005 12:00am
Oil steady at $61 as cold approaches US north-east

Oil steady at $61 as cold approaches US north-east

Oil hovered at $61 on Friday as the market balanced growing US crude stockpiles with concerns over heating fuel supply in the face of a looming winter and slow output recovery in the Gulf of Mexico.
Published 29 Oct, 2005 12:00am
SHC dismisses bail plea of Alliance scam accused

SHC dismisses bail plea of Alliance scam accused

The bail plea of Muhammad Ramzan Khawaja, an accused in Alliance Investment Company scam was dismissed here on Friday by a division bench of High Court of Sindh (SHC) comprising Justice Ghulam Rabbani and Justice Azizullah M. Memon.
Published 29 Oct, 2005 12:00am
Malaysian tin firmer

Malaysian tin firmer

Malaysian tin firmed on Friday, snapping a 4-day losing streak to end up 1 percent, reinvigorated by stronger London prices. The Kuala Lumpur Tin Market (KLTM) spot contract closed up $70 at $6,200 a tonne.
Published 29 Oct, 2005 12:00am
Over 210 bank branches resume function in quake-hit areas

Over 210 bank branches resume function in quake-hit areas

Over 210 branches of commercial banks in the earthquake-affected areas of Azad Kashmir and NWFP have been made functional due to efforts of the State Bank and the concerned banks' management, said a handout on Friday.
Published 29 Oct, 2005 12:00am
Gold holds above $473 in Asia

Gold holds above $473 in Asia

Gold held near New York levels in thin Asia trading on Friday, while platinum group metals were mixed after scaling new highs on fund buying.
Published 29 Oct, 2005 12:00am
Jordan stages telethon to raise funds

Jordan stages telethon to raise funds

Jordan on Friday staged a telethon to gather funds for the victims of Pakistan's massive earthquake, raising more than half a million dollars in the first hours of the campaign.
Published 29 Oct, 2005 12:00am
New York gold futures end at 10-day high

New York gold futures end at 10-day high

US gold futures hit a 10-day high at the close on Thursday on fund and safe-haven buying in the precious metals, while platinum touched an 18-month peak and palladium hit a 16-month high before edging down.
Published 29 Oct, 2005 12:00am
UNSC condemns Iran's anti-Israel remarks

UNSC condemns Iran's anti-Israel remarks

The UN Security Council on Friday condemned Iranian President Mahmoud Ahmadinejad's comment that Israel should be "wiped off the map".
Published 29 Oct, 2005 12:00am
Comex copper ends off lows in volatile trade

Comex copper ends off lows in volatile trade

US copper futures ended a choppy session in negative territory on Thursday on some speculative and option-related sales as an end to a strike at a Group Mexico smelter and talk of a large delivery of copper stocks from China's State Reserve Bureau were se
Published 29 Oct, 2005 12:00am
ADB to utilise $57 million loan for AJK reconstruction

ADB to utilise $57 million loan for AJK reconstruction

The Asian Development Bank (ADB) is planning to restructure its $57 million multi-sector rehabilitation and improvement project for Azad Jammu and Kashmir (AJK) following the earthquake which devastated AJK and parts of NWFP on October 8.
Published 29 Oct, 2005 12:00am
Australia wool prices ease in week

Australia wool prices ease in week

Australian wool prices eased in the latest week, hurt by a strengthening Australian dollar. The Australian Wool Exchange Eastern Market Indicator fell by 6 cents over the week to finish at 666 cents a kg clean.
Published 29 Oct, 2005 12:00am
ADB to utilise $57 million loan for AJK reconstruction

ADB to utilise $57 million loan for AJK reconstruction

The Asian Development Bank (ADB) is planning to restructure its $57 million multi-sector rehabilitation and improvement project for Azad Jammu and Kashmir (AJK) following the earthquake which devastated AJK and parts of NWFP on October 8.
Published 29 Oct, 2005 12:00am
EU makes bottom-line trade offer, US disappointed

EU makes bottom-line trade offer, US disappointed

The European Union on Friday offered more sacrifices on farm goods as it tried to keep alive a global trade deal, but the United States said it fell short and France protested it appeared to go too far.
Published 29 Oct, 2005 12:00am
ADB to utilise $57 million loan for AJK reconstruction

ADB to utilise $57 million loan for AJK reconstruction

The Asian Development Bank (ADB) is planning to restructure its $57 million multi-sector rehabilitation and improvement project for Azad Jammu and Kashmir (AJK) following the earthquake which devastated AJK and parts of NWFP on October 8.
Published 29 Oct, 2005 12:00am
Japanese industrial output falls

Japanese industrial output falls

Japanese industrial output was weaker than expected in September, raising concerns about the durability of Japan's economic recovery, while consumer price data suggested deflation was almost - but not quite - over.
Published 29 Oct, 2005 12:00am
Bush calls Iran and Syria 'outlaw regimes'

Bush calls Iran and Syria 'outlaw regimes'

President George W. Bush on Friday called Iran and Syria "outlaw regimes" and said countries that support terrorism are just as guilty of murder as those who commit the violence.
Published 29 Oct, 2005 12:00am
Vodafone to invest $1.5 billion in India

Vodafone to invest $1.5 billion in India

British telecom giant Vodafone announced Friday it will buy a 10 percent stake in mobile phone group Bharti Televentures for 1.5 billion dollars, the biggest ever foreign investment in an Indian telecom.
Published 29 Oct, 2005 12:00am
Bush calls Iran and Syria 'outlaw regimes'

Bush calls Iran and Syria 'outlaw regimes'

President George W. Bush on Friday called Iran and Syria "outlaw regimes" and said countries that support terrorism are just as guilty of murder as those who commit the violence.
Published 29 Oct, 2005 12:00am
Vodafone to invest $1.5 billion in India

Vodafone to invest $1.5 billion in India

British telecom giant Vodafone announced Friday it will buy a 10 percent stake in mobile phone group Bharti Televentures for 1.5 billion dollars, the biggest ever foreign investment in an Indian telecom.
Published 29 Oct, 2005 12:00am
Iranians hold anti-Israel rally

Iranians hold anti-Israel rally

President Mahmoud Ahmadinejad on Friday brushed off international condemnation and defended his call for Israel to be "wiped off the map", as tens of thousands of Iranians rallied to condemn the Jewish state.
Published 29 Oct, 2005 12:00am
Saudi Arabia gets nod for WTO entry by year-end

Saudi Arabia gets nod for WTO entry by year-end

Saudi Arabia, the top global oil exporter, won the go-ahead from major trading nations on Friday to join the World Trade Organisation (WTO), probably by mid-December, after 12 years of tough on-off negotiations.
Published 29 Oct, 2005 12:00am
Iranians hold anti-Israel rally

Iranians hold anti-Israel rally

President Mahmoud Ahmadinejad on Friday brushed off international condemnation and defended his call for Israel to be "wiped off the map", as tens of thousands of Iranians rallied to condemn the Jewish state.
Published 29 Oct, 2005 12:00am
Bangladesh doubts South Asian trade pact ready by January

Bangladesh doubts South Asian trade pact ready by January

Bangladesh Foreign Minister M. Morshed Khan doubts that the landmark South Asian Free Trade Agreement (Safta) will be ready in time for its scheduled implementation in January, a report said Friday.
Published 29 Oct, 2005 12:00am
PTCL announces Rs 5.5 billion first quarter profit

PTCL announces Rs 5.5 billion first quarter profit

The Pakistan Telecommunication Company Limited (PTCL) has posted Rs 5.5 billion after-tax profit for the quarter ended September 30, 2005, as compared to Rs 6.3 billion showing a decline of Rs 800 million.
Published 29 Oct, 2005 12:00am
Germany must adhere to EU stability pact: Merkel

Germany must adhere to EU stability pact: Merkel

Germany must reduce its public sector deficit to comply with European Union budetary rules and stimulate economic growth, Chancellor-designate Angela Merkel said on Friday.
Published 29 Oct, 2005 12:00am
PTCL announces Rs 5.5 billion first quarter profit

PTCL announces Rs 5.5 billion first quarter profit

The Pakistan Telecommunication Company Limited (PTCL) has posted Rs 5.5 billion after-tax profit for the quarter ended September 30, 2005, as compared to Rs 6.3 billion showing a decline of Rs 800 million.
Published 29 Oct, 2005 12:00am
US growth picks up in third quarter despite storms

US growth picks up in third quarter despite storms

The US economy shook off headwinds from hurricanes Katrina and Rita to grow at a faster-than-expected 3.8 percent annual rate in the third quarter, a Commerce Department report showed on Friday.
Published 29 Oct, 2005 12:00am
PTCL announces Rs 5.5 billion first quarter profit

PTCL announces Rs 5.5 billion first quarter profit

The Pakistan Telecommunication Company Limited (PTCL) has posted Rs 5.5 billion after-tax profit for the quarter ended September 30, 2005, as compared to Rs 6.3 billion showing a decline of Rs 800 million.
Published 29 Oct, 2005 12:00am
Microsoft profit rises

Microsoft profit rises

Microsoft Corp on Thursday said quarterly profit rose 24 percent on robust sales of Windows but tempered expectations of a sales spike when its Xbox 360 video game console launches in a month.
Published 29 Oct, 2005 12:00am
PTCL announces Rs 5.5 billion first quarter profit

PTCL announces Rs 5.5 billion first quarter profit

The Pakistan Telecommunication Company Limited (PTCL) has posted Rs 5.5 billion after-tax profit for the quarter ended September 30, 2005, as compared to Rs 6.3 billion showing a decline of Rs 800 million.
Published 29 Oct, 2005 12:00am
Microsoft profit rises

Microsoft profit rises

Microsoft Corp on Thursday said quarterly profit rose 24 percent on robust sales of Windows but tempered expectations of a sales spike when its Xbox 360 video game console launches in a month.
Published 29 Oct, 2005 12:00am