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Print - 2006-03-22
Thousands gather for Kurdish festival in Turkey

Thousands gather for Kurdish festival in Turkey

Tens of thousands of people gathered in south-eastern Turkey Tuesday to celebrate Newroz, the Kurdish New Year, amid heavy police measures over fears that radical Kurds may use the event to stir unrest in the already tense region.
Published 22 Mar, 2006 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks turned higher on Tuesday as a rebound in the semiconductor sector pushed the Nasdaq 100 Index past a key technical resistance level. Comments from Exxon Mobil Corp's chief executive boosted oil companies' shares.
Published 22 Mar, 2006 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares suffered their first loss in five sessions on Tuesday, hit by worries about the impact of a strengthening won currency on profits at exporters such as Samsung Electronics and Hyundai Motor.
Published 22 Mar, 2006 12:00am
Bonds: spreads tighten as confidence endures

Bonds: spreads tighten as confidence endures

Spreads in the European credit markets tightened on Tuesday, amid subdued trading, as investors bet the strong sentiment of the past few months was unlikely to be upset anytime soon.
Published 22 Mar, 2006 12:00am
Bonds: spreads tighten as confidence endures

Bonds: spreads tighten as confidence endures

Spreads in the European credit markets tightened on Tuesday, amid subdued trading, as investors bet the strong sentiment of the past few months was unlikely to be upset anytime soon.
Published 22 Mar, 2006 12:00am
Dollar rises versus majors in London

Dollar rises versus majors in London

The dollar moved away from a recent seven-week low versus the euro and firmed against other currencies on Tuesday after Federal Reserve Chairman Ben Bernanke gave upbeat comments on the US economy.
Published 22 Mar, 2006 12:00am
Sterling down versus euro

Sterling down versus euro

Sterling held near a 7-month low against the euro on Tuesday, with inflation data offering little fresh direction for the British currency ahead of Bank of England minutes on Wednesday.
Published 22 Mar, 2006 12:00am
Indian rupee rises

Indian rupee rises

The rupee inched up on Tuesday on expectations of a large foreign direct investment, but traders were wary of the central bank which could intervene and cap gains to keep exports competitive.
Published 22 Mar, 2006 12:00am
UN report warns on overuse of water for farming

UN report warns on overuse of water for farming

The overuse of water for farming is the biggest environmental threat to the world's freshwater resources and damage is likely to worsen until 2020, an international report issued on Tuesday said.
Published 22 Mar, 2006 12:00am
Kuwait jails man 15 years for attack on US convoy

Kuwait jails man 15 years for attack on US convoy

Kuwait's highest court has upheld a 15-year jail sentence against a man convicted of firing at US servicemen and expatriate workers in the pro-Western Gulf Arab country in 2003, judicial sources said on Tuesday.
Published 22 Mar, 2006 12:00am
Swedish foreign minister resigns over cartoons

Swedish foreign minister resigns over cartoons

Swedish Foreign Minister Laila Freivalds quit on Tuesday after a row over the closure of a Web site with blasphemous cartoons of Holy Prophet (Peace Be Upon Him), embarrassing Prime Minister Goran Persson six months ahead of elections.
Published 22 Mar, 2006 12:00am
India and Bangladesh agree to fight terrorism, boost trade

India and Bangladesh agree to fight terrorism, boost trade

India and Bangladesh agreed Tuesday to join forces against terrorism and to correct trade imbalances tilted heavily in India's favour. The neighbouring countries, which often have a tetchy relationship, also renewed a 1980 bilateral trade pact which was s
Published 22 Mar, 2006 12:00am
French job protests continue

French job protests continue

Protesters took to France's streets again on Tuesday and threatened a national strike as the government sought a way out of the crisis over a new law giving employers more leeway to dismiss young workers.
Published 22 Mar, 2006 12:00am
Saddam's foreign minister was on CIA payroll: report

Saddam's foreign minister was on CIA payroll: report

Iraq's foreign minister under Saddam Hussein spied for the CIA before the US-led invasion in 2003 in return for a 100,000 dollar payment, a US television station reported Monday.
Published 22 Mar, 2006 12:00am
Four killed, 68 hurt in Algerian earthquake

Four killed, 68 hurt in Algerian earthquake

An earthquake has hit the town of Laalam in north-east Algeria, killing three children and a woman and injuring 68 people, Prime Minister Ahmed Ouyahia and local officials said Tuesday.
Published 22 Mar, 2006 12:00am
Indian MiG crashes; pilot killed

Indian MiG crashes; pilot killed

An Indian air force MiG fighter jet crashed Tuesday in the northern desert state of Rajasthan, killing its pilot. Police said the Russian-designed aircraft took off from a military base in the frontier district of Barmer and crashed in a field without giv
Published 22 Mar, 2006 12:00am
Bush raises possibility of years-long Iraq presence

Bush raises possibility of years-long Iraq presence

President George W. Bush held out the possibility on Tuesday of a US troop presence in Iraq for many years, saying a full withdrawal would depend on decisions by future US presidents and Iraqi governments.
Published 22 Mar, 2006 12:00am
China and Russia united on Iran

China and Russia united on Iran

China and Russia are united in pushing for more diplomacy to resolve the Iranian nuclear issue, China said on Tuesday, a day after the two deflected Western moves to authorise UN Security Council threats against Iran.
Published 22 Mar, 2006 12:00am
Israel reopens goods crossing into Gaza

Israel reopens goods crossing into Gaza

Israel reopened the main goods crossing into the Gaza Strip on Tuesday under foreign pressure, letting truckloads of flour, rice and cooking oil pass after Palestinian officials and aid groups warned of food shortages.
Published 22 Mar, 2006 12:00am
Zinc touches record high

Zinc touches record high

London Metal Exchange (LME) zinc touched a fresh record high in pre-market trading on Tuesday on light technical buying, while copper eyed a test of Friday's record peak, dealers said. Zinc was quoted at $2,480/90 a tonne at 1021 GMT, from $2,470 at Monda
Published 22 Mar, 2006 12:00am
US MIDDAY: gold declines

US MIDDAY: gold declines

US gold futures sank 1.35 percent Tuesday morning on speculative selling, and silver, platinum and palladium also fell, as a firm US dollar made precious metals less attractive to investors, dealers said.
Published 22 Mar, 2006 12:00am
US MIDDAY: soybeans firm

US MIDDAY: soybeans firm

Soybean futures at the Chicago Board of Trade were firm early on Tuesday in a short-covering bounce after Monday's slide drove May to a 3-1/2 month low, traders said.
Published 22 Mar, 2006 12:00am
US MIDDAY: copper moves up

US MIDDAY: copper moves up

US copper futures climbed at the open on Tuesday, on the heels of new record peaks for zinc and copper in London, while a stronger-than-expected rise in core US producer prices seemed to keep a lid on the advance, sources said.
Published 22 Mar, 2006 12:00am
US MIDDAY: corn firms

US MIDDAY: corn firms

Corn futures at the Chicago Board of Trade turned firm early on Tuesday on a technical bounce from Monday's slide to two-month lows, and gains in wheat also gave the market some buoyancy, traders said.
Published 22 Mar, 2006 12:00am
US MIDDAY: wheat higher

US MIDDAY: wheat higher

Wheat futures at the Chicago Board of Trade were firm early on Tuesday in a technical rebound from Monday's weather-driven plunge to two-month lows, traders said.
Published 22 Mar, 2006 12:00am
US MIDDAY: sugar jumps

US MIDDAY: sugar jumps

Raw sugar futures ended Tuesday at a two-week high on commodity fund buying fuelled in part by uncertainty over ethanol output in Brazil and storm damage in key exporter Australia, brokers said.
Published 22 Mar, 2006 12:00am
US MIDDAY: coffee firms

US MIDDAY: coffee firms

US coffee futures posted a modest gain on Tuesday, although bullish speculators lacked the muscle to drive prices outside the top of a one-week trading range, market sources said.
Published 22 Mar, 2006 12:00am
US MIDDAY: cocoa bounces

US MIDDAY: cocoa bounces

US cocoa futures settled in positive territory Tuesday, bolstered by a late spurt of speculative buying into early weakness, traders said.
Published 22 Mar, 2006 12:00am
European gold falls

European gold falls

Gold prices were down but off their lows on Tuesday after a failure to breach a key target inspired investor selling, with a rise in the dollar and soft oil prices adding to the pressures on the market.
Published 22 Mar, 2006 12:00am
Pakistan seeks US aid for energy needs: Karamat

Pakistan seeks US aid for energy needs: Karamat

Pakistan's Ambassador to Washington, Jahangir Karamat has said that Pakistan's energy needs are increasing and they must be fulfilled. He was talking to VoA in the backdrop of Foreign Minister Khurshid Mahmood Kasuri's interview and Pakistan's Foreign Min
Published 22 Mar, 2006 12:00am
London sugar higher

London sugar higher

London white sugar futures rose to a two-week high in late trading, ending with gains of more than 2 percent amid growing concern about damage to the Australian cane crop from a super cyclone, traders said.
Published 22 Mar, 2006 12:00am
New York cotton touch softer

New York cotton touch softer

Cotton futures closed Tuesday with minor losses on steady speculative sales and the market may ease further in the days ahead, analysts said.
Published 22 Mar, 2006 12:00am
China forms new copper body

China forms new copper body

A Chinese state-controlled trade body has formed a copper division to co-ordinate and monitor copper concentrate imports, a move the industry hopes will protect it from falling smelting fees.
Published 22 Mar, 2006 12:00am
Oil holds most of big losses on hefty US supplies

Oil holds most of big losses on hefty US supplies

Oil prices held most of the previous day's slump on Tuesday as forecasts for another rise in US crude stocks countered concern that tension over Iran's nuclear work may disrupt supply. US light sweet crude for April delivery traded 33 cents higher at $60.
Published 22 Mar, 2006 12:00am
FTSE stays shy of 6,000; M&A talk persists

FTSE stays shy of 6,000; M&A talk persists

Britain's top share index ended flat on Tuesday, again short of the key 6,000 level as resource stocks fell, although the bid talk which has recently boosted shares to 5-year highs lingered.
Published 22 Mar, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 21, 2006).

Published 22 Mar, 2006 12:00am
10 SoQs received for NPCC sell-off

10 SoQs received for NPCC sell-off

The Privatisation Commission has received 10 statements of qualification (SoQs) from qualified strategic investors for acquiring 51 percent interest in the National Power Construction Corporation (NPCC) with the management control.
Published 22 Mar, 2006 12:00am
SHC defers hearing in tractors import scheme till March 29

SHC defers hearing in tractors import scheme till March 29

A two-member bench of the Sindh High Court (SHC) on Tuesday deferred the hearing of duty-free tractors import scheme till March 29 without vacating the stay order. The constitutional petition has been filed by the Fecto Belarus Tractors Limited challengin
Published 22 Mar, 2006 12:00am
Bank of Italy approves BNP-Paribas take-over of BNL

Bank of Italy approves BNP-Paribas take-over of BNL

Italy's central bank has approved plans by BNP Paribas to acquire Banca Nazionale del Lavoro (BNL) for nine billion euros (10.9 billion dollars), the French banking group said on Tuesday.
Published 22 Mar, 2006 12:00am
28 die as police station stormed in Iraq

28 die as police station stormed in Iraq

Hundreds of rebels stormed an Iraqi police station on Tuesday in a pre-dawn raid to free inmates, triggering the deadliest firefight this year, which left 18 policemen and 10 insurgents dead.
Published 22 Mar, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (March 21, 2006).

Published 22 Mar, 2006 12:00am
28 die as police station stormed in Iraq

28 die as police station stormed in Iraq

Hundreds of rebels stormed an Iraqi police station on Tuesday in a pre-dawn raid to free inmates, triggering the deadliest firefight this year, which left 18 policemen and 10 insurgents dead.
Published 22 Mar, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (March 21, 2006).

Published 22 Mar, 2006 12:00am
Privatisation process slows down

Privatisation process slows down

With the departure of former Minister for Privatisation and Investment, Dr Hafeez Sheikh, work at the Privatisation Commission has almost come to a standstill since March 12, 2006, the date newly elected members of the Senate took oath of office, sources
Published 22 Mar, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (March 21, 2006).

Published 22 Mar, 2006 12:00am
Privatisation process slows down

Privatisation process slows down

With the departure of former Minister for Privatisation and Investment, Dr Hafeez Sheikh, work at the Privatisation Commission has almost come to a standstill since March 12, 2006, the date newly elected members of the Senate took oath of office, sources
Published 22 Mar, 2006 12:00am
Privatisation process slows down

Privatisation process slows down

With the departure of former Minister for Privatisation and Investment, Dr Hafeez Sheikh, work at the Privatisation Commission has almost come to a standstill since March 12, 2006, the date newly elected members of the Senate took oath of office, sources
Published 22 Mar, 2006 12:00am
Iranian foreign minister phones Kasuri

Iranian foreign minister phones Kasuri

Foreign Minister Manocher Mottaki of Iran telephoned his Pakistani counterpart Khurshid Mehmood Kasuri on Tuesday and discussed matters of bilateral and mutual interest, including the latest developments with regard to the Iranian nuclear issue, a Foreign
Published 22 Mar, 2006 12:00am
Iranian foreign minister phones Kasuri

Iranian foreign minister phones Kasuri

Foreign Minister Manocher Mottaki of Iran telephoned his Pakistani counterpart Khurshid Mehmood Kasuri on Tuesday and discussed matters of bilateral and mutual interest, including the latest developments with regard to the Iranian nuclear issue, a Foreign
Published 22 Mar, 2006 12:00am
Gas line blown up in Balochistan

Gas line blown up in Balochistan

A gas pipeline was blown up in Balochistan, damaging 30-metre pipeline, the latest attack in the troubled province, officials said on Tuesday. The pipeline is owned by Sui Northern Gas Pipelines Limited (SNGPL) and feeds gas to Punjab.
Published 22 Mar, 2006 12:00am
Gas line blown up in Balochistan

Gas line blown up in Balochistan

A gas pipeline was blown up in Balochistan, damaging 30-metre pipeline, the latest attack in the troubled province, officials said on Tuesday. The pipeline is owned by Sui Northern Gas Pipelines Limited (SNGPL) and feeds gas to Punjab.
Published 22 Mar, 2006 12:00am
ABL profit jumps to Rs 5.5 billion

ABL profit jumps to Rs 5.5 billion

The Board of Directors of the Allied Bank Limited (ABL) approved the accounts for 2005 in their meeting held on March 18, 2006 at Lahore.
Published 22 Mar, 2006 12:00am
ABL profit jumps to Rs 5.5 billion

ABL profit jumps to Rs 5.5 billion

The Board of Directors of the Allied Bank Limited (ABL) approved the accounts for 2005 in their meeting held on March 18, 2006 at Lahore.
Published 22 Mar, 2006 12:00am
ABL profit jumps to Rs 5.5 billion

ABL profit jumps to Rs 5.5 billion

The Board of Directors of the Allied Bank Limited (ABL) approved the accounts for 2005 in their meeting held on March 18, 2006 at Lahore.
Published 22 Mar, 2006 12:00am
ABL profit jumps to Rs 5.5 billion

ABL profit jumps to Rs 5.5 billion

The Board of Directors of the Allied Bank Limited (ABL) approved the accounts for 2005 in their meeting held on March 18, 2006 at Lahore.
Published 22 Mar, 2006 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation including Public Debt offices will remain closed on Thursday, being public holiday declared by the government on account of Pakistan Day.
Published 22 Mar, 2006 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation including Public Debt offices will remain closed on Thursday, being public holiday declared by the government on account of Pakistan Day.
Published 22 Mar, 2006 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation including Public Debt offices will remain closed on Thursday, being public holiday declared by the government on account of Pakistan Day.
Published 22 Mar, 2006 12:00am
Foreign TV channels banned to protect culture: Pemra

Foreign TV channels banned to protect culture: Pemra

Director General (Enforcement) Pakistan Electronic Media Regulatory Authority (Pemra) Rana Altaf Majeed has said that a ban has been imposed on foreign satellite TV channels to protect the Pakistani culture and generation of revenue through advertisements
Published 22 Mar, 2006 12:00am
US-India nuclear deal threat to Pakistan's security: experts

US-India nuclear deal threat to Pakistan's security: experts

Eminent Pakistani experts of strategic and foreign affairs have said that the recently concluded US-India nuclear deal is a direct threat to Pakistan's security and it was bound to start a bigger arms race in the region since civilian and military nuclear
Published 22 Mar, 2006 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Mar, 2006 12:00am
Three-phased plan to revive JPGL: chief executive

Three-phased plan to revive JPGL: chief executive

Pakistan total power generation capacity is 20k MV at present, which matches with current demand, projected demand in four years would increase by another 4k to 5k MV and Pakistan will have to expend its production capacity.
Published 22 Mar, 2006 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Tuesday (March 21, 2006).

Published 22 Mar, 2006 12:00am
'KCCI focusing on women empowerment'

'KCCI focusing on women empowerment'

Karachi Chamber of Commerce and Industry (KCCI) President Haroon Farooki has said that the chamber is focusing on socio-economic empowerment of women by encouraging women entrepreneurs in the fields of business and commercial activities.
Published 22 Mar, 2006 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 22 Mar, 2006 12:00am
Banned medicines being sold openly

Banned medicines being sold openly

Despite government's decision to ban metamizole due to its injurious side effects, several other medicines containing similar ingredients are being openly sold in the market.
Published 22 Mar, 2006 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Mar, 2006 12:00am
Ibad and Arbab to visit Quaid's mazar

Ibad and Arbab to visit Quaid's mazar

Sindh Governor Dr Ishrat-ul-Ibad Khan and Chief Minister Dr Arbab Ghulam Rahim would visit the Mazar of Quaid-e-Azam Mohammed Ali Jinnah on Thursday (March 23). Accompanied by members of the Provincial Cabinet, they would lay wreaths at the Quaid's Mazar
Published 22 Mar, 2006 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Mar, 2006 12:00am
Various aspects of cotton varieties discussed

Various aspects of cotton varieties discussed

Two different committees constituted by the Advisor to Chief Minister Sindh for Agriculture and Food regarding laying cotton demonstration plots at farmers fields and preparation of awareness messages for cotton growers during coming Kharif season were me
Published 22 Mar, 2006 12:00am
KESC installing new 1000-MW power generating units

KESC installing new 1000-MW power generating units

Chief Executive Officer (CEO) of Karachi Electric Supply Corporation (KESC) Frank Scherschmidi said that the KESC was installing new 1000-MW power generating units in the city.
Published 22 Mar, 2006 12:00am