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Print - 2006-03-31
Swiss franc slips toward two-year low

Swiss franc slips toward two-year low

The Swiss franc fell to near two-year lows against the euro early on Thursday, after an influential think tank signalled on Wednesday that economic growth may begin to level off in the second half of the year.
Published 31 Mar, 2006 12:00am
Yuan slips as local firms support dollar

Yuan slips as local firms support dollar

China's yuan weakened against the dollar on Thursday for the second consecutive day as more domestic import and export firms bought dollars, dealers said.
Published 31 Mar, 2006 12:00am
Dollar gives up some gains after Fed-inspired rally

Dollar gives up some gains after Fed-inspired rally

The dollar slipped on Thursday, succumbing to profit taking after scoring gains earlier this week on the Federal Reserve's signal that it is not quite finished raising interest rates.
Published 31 Mar, 2006 12:00am
Dollar drifts as market reassesses Fed outlook

Dollar drifts as market reassesses Fed outlook

The dollar crept lower on Wednesday as investors booked profits on the prior day's sharp gains, when the Federal Reserve raised US interest rates and hinted more could be in the pipeline.
Published 31 Mar, 2006 12:00am
Mumbai forex, bond markets closed

Mumbai forex, bond markets closed

Mumbai's foreign exchange and bond markets were closed on Thursday for a local holiday. They will reopen on Friday.
Published 31 Mar, 2006 12:00am
Hong Kong dollar ends steady

Hong Kong dollar ends steady

The Hong Kong dollar was trapped in a narrow range on Thursday after hitting a one-week low in the previous day, while short-dated money rates softened in a market flush with liquidity.
Published 31 Mar, 2006 12:00am
Asian currencies: yen rise sparks gains

Asian currencies: yen rise sparks gains

Most Asian currencies rose on Thursday, following the Japanese yen as the dollar gave up gains it made after the Federal Reserve's 15th straight rate rise this week, with the Thai baht strengthening the most.
Published 31 Mar, 2006 12:00am
Australian dollar darts above 71 cents

Australian dollar darts above 71 cents

The Australian dollar staged a recovery from 18-month lows on Thursday, darting above 71 US cents as investors caught short by a sharp slide this week covered their positions.
Published 31 Mar, 2006 12:00am
Smith to miss final Test

Smith to miss final Test

Graeme Smith's unhappy season of Test cricket continued when he was forced to withdraw from the third and final Test against Australia starting at the Wanderers Stadium on Friday because of a finger injury.
Published 31 Mar, 2006 12:00am
Sharapova moves into semi-final, Zheng ousted

Sharapova moves into semi-final, Zheng ousted

Russia's Maria Sharapova advanced to the semi-finals of a 6.9 million-dollar WTA and ATP Hardcourt Tournament here on Wednesday, the fourth seed ousting compatriot Anastasia Myskina 6-3, 6-3.
Published 31 Mar, 2006 12:00am
Mickelson prepares for Augusta

Mickelson prepares for Augusta

Phil Mickelson spent two days practising at Augusta National for next week's Masters, but he will focus on defending his title here when the PGA BellSouth Classic tees off Thursday.
Published 31 Mar, 2006 12:00am
Inzamam praises brilliant Shoaib

Inzamam praises brilliant Shoaib

Pakistan captain Inzamamul Haq praised Shoaib Malik after the opener's 148 not out saved the first test against Sri Lanka on Thursday. Pakistan, set 458 to win, lost only four wickets in 121 overs as Malik masterminded a brilliant rearguard action with hi
Published 31 Mar, 2006 12:00am
Divers could face trial by television

Divers could face trial by television

Players who dive to win penalties or simulate injury in a bid to get opponents booked could soon face disciplinary action based on video reviews of their actions, it emerged on Thursday.
Published 31 Mar, 2006 12:00am
Shoaib Malik heroics and maiden ton save Pakistan

Shoaib Malik heroics and maiden ton save Pakistan

Shoaib Malik ground out a big maiden Test century under pressure to help Pakistan draw the opening match against Sri Lanka after being set a mammoth target to win.
Published 31 Mar, 2006 12:00am
Sri Lankans vote in local poll

Sri Lankans vote in local poll

Sri Lankans voted on Thursday in local government elections widely seen as a litmus test of the popularity of President Mahinda Rajapakse's hard-line Marxist allies that could affect a fragile peace process.
Published 31 Mar, 2006 12:00am
Big-5 wants Iran must curb nuclear ambitions

Big-5 wants Iran must curb nuclear ambitions

The world's major powers told Iran on Thursday it must heed a UN call to curb its nuclear programme or face isolation, but Tehran refused to budge.
Published 31 Mar, 2006 12:00am
Father of Indian soap operas dies

Father of Indian soap operas dies

The father of Indian soap operas, who kept television viewers spellbound in the days before cable with long-running shows about ordinary people, died here early Thursday, a report said.
Published 31 Mar, 2006 12:00am
Bolten wants Snow replaced

Bolten wants Snow replaced

Joshua Bolten, the incoming White House chief of staff, wants Treasury Secretary John Snow replaced with someone who can present the administration's message more forcefully, The New York Times reported on Thursday.
Published 31 Mar, 2006 12:00am
Pharaonic hall in Egypt found

Pharaonic hall in Egypt found

Archaeologists have found a hall in a pharaonic tomb in the southern city of Luxor they said could yield important information on how ancient Egyptians dug their tombs.
Published 31 Mar, 2006 12:00am
Gunmen kill eight refinery workers

Gunmen kill eight refinery workers

Gunmen ambushed and killed eight workers from Iraq's main oil refinery in the northern city of Baiji on Thursday, police said. One worker was also wounded when their minibus was stopped at a roadblock after they left work for the day. The gunmen, some of
Published 31 Mar, 2006 12:00am
US journalist freed in Iraq

US journalist freed in Iraq

American journalist Jill Carroll was freed in Baghdad on Thursday, nearly three months after being kidnapped in the city. "I'm just happy to be free. I just want to be with my family," Carroll, wearing a headscarf, told Baghdad Television, adding she had
Published 31 Mar, 2006 12:00am
Quartet warns Hamas government aid will be hit

Quartet warns Hamas government aid will be hit

International peace mediators said on Thursday the new Hamas-led Palestinian government had failed to commit itself to peace and warned that aid would inevitably be affected.
Published 31 Mar, 2006 12:00am
Thai protesters want election called off

Thai protesters want election called off

Thousands of Thai protesters marched on the offices of the country's election commission Thursday demanding the last-minute cancellation of this weekend's polls.
Published 31 Mar, 2006 12:00am
Danish Muslims to sue Jyllands-Posten

Danish Muslims to sue Jyllands-Posten

Danish Muslims started legal proceedings on Thursday against the newspaper which first printed blasphemous images of the Holy Prophet Muhammad (Peace Be Upon Him), accusing it of blasphemy and intentionally insulting Islam.
Published 31 Mar, 2006 12:00am
Pound at seven-month low versus euro

Pound at seven-month low versus euro

Sterling hit a fresh seven-month low against the euro on Thursday as the single currency's overall strength prevailed due to growing expectations for a European Central Bank rate hike in May.
Published 31 Mar, 2006 12:00am
Euro extends lead versus dollar

Euro extends lead versus dollar

The euro built on earlier gains against the dollar on Thursday, supported by expectations that the European Central Bank will next raise interest rates in May, and a perception that US interest rates may be peaking soon.
Published 31 Mar, 2006 12:00am
Bonds: Cerberus report boosts GMAC; Vinci hybrid rallies

Bonds: Cerberus report boosts GMAC; Vinci hybrid rallies

The cost of insuring debt from General Motors' financing arm against default fell on Thursday, after a newspaper report raised hopes the automaker was nearing a sale of a majority stake in the unit.
Published 31 Mar, 2006 12:00am
Bonds: Cerberus report boosts GMAC; Vinci hybrid rallies

Bonds: Cerberus report boosts GMAC; Vinci hybrid rallies

The cost of insuring debt from General Motors' financing arm against default fell on Thursday, after a newspaper report raised hopes the automaker was nearing a sale of a majority stake in the unit.
Published 31 Mar, 2006 12:00am
South Korean stocks rise

South Korean stocks rise

South Korean shares rose in thin trade on Thursday, led by steel makers such as POSCO amid expectations for a recovery in profits, while higher oil prices lifted oil refiners including SK Corp.
Published 31 Mar, 2006 12:00am
US Stocks: Thursday's unofficial close

US Stocks: Thursday's unofficial close

US blue chip stocks fell on Thursday, as Treasury yields rose to the highest level in nearly two years after data showed stronger inflation than previously thought going into the new year.
Published 31 Mar, 2006 12:00am
FTSE back above 6,000 mark

FTSE back above 6,000 mark

A fresh rash of bid talk around banks and a surge in mining stocks after results from Kazakhmys powered the FTSE 100 index back above the 6,000 level on Thursday after big losses at the start of the week.
Published 31 Mar, 2006 12:00am
Philippines aspires to be Asian grain hub

Philippines aspires to be Asian grain hub

Alison Sy dreams of massive cargo ships docking at her automated grain handling facility in the northern Philippines after it opens in May or June. The grains port, the biggest of three such terminals in the country, has ambitions to become a transhipment
Published 31 Mar, 2006 12:00am
Turkish gold bourse prepares for 24-hour trade

Turkish gold bourse prepares for 24-hour trade

Turkey's Istanbul Gold Exchange (IAB) is aiming to increase volumes and offer new investment vehicles as it moves to 24-hour electronic trading, the bourse chairman said.
Published 31 Mar, 2006 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures ended higher Thursday on combined trade and speculative buying as the market kept be grinding its way higher on the back of robust demand for the fibre, analysts said.
Published 31 Mar, 2006 12:00am
London sugar steadies

London sugar steadies

London sugar futures closed little changed after a session dominated by structural activity, profit taking and light producer selling ahead of the London sugar trade dinner on Thursday evening, traders said. Benchmark May settled up $1.20 at $479.20 per t
Published 31 Mar, 2006 12:00am
Copper and zinc at record highs

Copper and zinc at record highs

London Metal Exchange (LME) copper and zinc lifted the complex higher on Thursday by charging up to new record highs on fund buying, dealers said. "It is go-go-go for the end of the quarter and end of the month - you just can't stop it," a fund source sai
Published 31 Mar, 2006 12:00am
Precious metals sparkle, gold at 25-year high

Precious metals sparkle, gold at 25-year high

Records tumbled in precious metals markets on Thursday as gold raced to a new 25-year peak, platinum hit a record high and silver spiked to its highest in more than 22 years.
Published 31 Mar, 2006 12:00am
US MIDDAY: coffee rallies

US MIDDAY: coffee rallies

Coffee futures prices rallied more than 4 percent to a two-week high on Thursday, fuelled by robust fund and speculative buying amid surging prices in other commodity markets, traders said.
Published 31 Mar, 2006 12:00am
US MIDDAY: cocoa firms

US MIDDAY: cocoa firms

Benchmark cocoa futures rose about 1.5 percent to end at the loftiest price in two weeks, bolstered by speculative buying in London's cocoa market together with a flagging dollar, traders said on Thursday.
Published 31 Mar, 2006 12:00am
US MIDDAY: sugar higher

US MIDDAY: sugar higher

Raw sugar futures finished at a 7-week high Thursday on commodity fund buying as the market built momentum to eventually surpass the 25-year highs it set last month, brokers said.
Published 31 Mar, 2006 12:00am
US MIDDAY: corn climbs

US MIDDAY: corn climbs

Corn futures at the Chicago Board of Trade climbed to 2-week highs early on Thursday, following a surge in outside markets, especially gold, which notched a fresh 25-year peak, traders said.
Published 31 Mar, 2006 12:00am
US MIDDAY: wheat moves up

US MIDDAY: wheat moves up

Wheat futures at the Chicago Board of Trade were higher early on Thursday on a rebound from recent declines and strength in outside markets, notably gold, traders said.
Published 31 Mar, 2006 12:00am
US MIDDAY: copper at new highs

US MIDDAY: copper at new highs

US copper futures extended their recent gains early on Thursday, hitting new records in early business, with a firmer precious metals market and some end-of-the-quarter fund buying underpinning the red metal, sources said.
Published 31 Mar, 2006 12:00am
US MIDDAY: soyabeans climb

US MIDDAY: soyabeans climb

Soyabean futures at the Chicago Board of Trade rose early on Thursday in a technical bounce, following the metals markets to higher ground, traders said.
Published 31 Mar, 2006 12:00am
US MIDDAY: precious metals at multiyear highs

US MIDDAY: precious metals at multiyear highs

Precious metals rocketed to fresh multiyear peaks on Thursday morning in New York, powered by fund buying across a range of commodities that was driven by positive market outlooks and thoughts of even higher prices.
Published 31 Mar, 2006 12:00am
US MIDDAY: precious metals at multiyear highs

US MIDDAY: precious metals at multiyear highs

Precious metals rocketed to fresh multiyear peaks on Thursday morning in New York, powered by fund buying across a range of commodities that was driven by positive market outlooks and thoughts of even higher prices.
Published 31 Mar, 2006 12:00am
US MIDDAY: precious metals at multiyear highs

US MIDDAY: precious metals at multiyear highs

Precious metals rocketed to fresh multiyear peaks on Thursday morning in New York, powered by fund buying across a range of commodities that was driven by positive market outlooks and thoughts of even higher prices.
Published 31 Mar, 2006 12:00am
Pakistan to participate in Vietnam Expo-2006 in April

Pakistan to participate in Vietnam Expo-2006 in April

The 16th Vietnam international trade fair, Vietnam Expo-2006, will be held from April 5-9. More than 200 companies from 14 countries, including Pakistan, will participate in the fair.
Published 31 Mar, 2006 12:00am
Singaporean pays $55,000 for hunting Markhor

Singaporean pays $55,000 for hunting Markhor

A Singaporean hunter has paid 55,000 dollars for hunting a rare goat Markhor with bow and arrow, but later had to gun down after the animal escaped his arrows in the rugged terrain of Chitral, WWF sources said.
Published 31 Mar, 2006 12:00am
'Unity, coherence must to make country strong, prosperous'

'Unity, coherence must to make country strong, prosperous'

Minister of State for Information and Broadcasting Anisa Zeb Tahirkheli has urged the need for national unity and coherence to make the country strong and prosperous as visualised by the leaders and workers of independence movement.
Published 31 Mar, 2006 12:00am
Five more universities to be opened

Five more universities to be opened

The government is planning to open five more universities in the country and a huge amount has been allocated for this purpose. Minister for Manpower Ghulam Sarwar Khan, while talking to PTV said, the government had decided to set up a network of educatio
Published 31 Mar, 2006 12:00am
Ashraf and Awais get additional charges

Ashraf and Awais get additional charges

Prime Minister Shaukat Aziz has given charge of additional ministries to Education Minister Lieutenant General Javed Ashraf Qazi (Retd) and Information Technology Minister Awais Ahmed Khan Leghari.
Published 31 Mar, 2006 12:00am
Ashraf and Awais get additional charges

Ashraf and Awais get additional charges

Prime Minister Shaukat Aziz has given charge of additional ministries to Education Minister Lieutenant General Javed Ashraf Qazi (Retd) and Information Technology Minister Awais Ahmed Khan Leghari.
Published 31 Mar, 2006 12:00am
'No human trafficking case reported in quake-hit areas'

'No human trafficking case reported in quake-hit areas'

Minister for Interior Aftab Ahmed Khan Sherpao on Thursday said no human trafficking case was reportedd in the quake affected areas He said this while launching the "Counter Trafficking Campaign in the Earthquake Affected Area" funded by the government of
Published 31 Mar, 2006 12:00am
Pakistan Bonds get good response: Dr Ashfaque

Pakistan Bonds get good response: Dr Ashfaque

Pakistan launched long term bonds to test its growing economic worth in the international capital market, which proved very successful as foreign investors gave overwhelming response by investing 800 million dollars in the bonds.
Published 31 Mar, 2006 12:00am
Pakistan Bonds get good response: Dr Ashfaque

Pakistan Bonds get good response: Dr Ashfaque

Pakistan launched long term bonds to test its growing economic worth in the international capital market, which proved very successful as foreign investors gave overwhelming response by investing 800 million dollars in the bonds.
Published 31 Mar, 2006 12:00am
Chinese exporters warned on dealing with traders in region

Chinese exporters warned on dealing with traders in region

Global Credit Solutions (GCS Group) head office located in Melbourne, Australia, has advised a number of its clients in China, who have been exporting to India and Pakistan, to take care with regards to payments of accounts.
Published 31 Mar, 2006 12:00am
Hundreds of PPP workers to leave for Larkana

Hundreds of PPP workers to leave for Larkana

A convoy of hundreds of workers and supporters of the Pakistan Peoples Party will proceed to Garhi Khuda Bux, Larkana on April 2 to participate in the 27th death anniversary of the PPP founding leader, late Zulfiqar Ali Bhutto, being observed on April 4.
Published 31 Mar, 2006 12:00am
National unity

National unity

With regard to national unity I have a suggestion, which is to introduce the regional language of one province in other provinces at least at the school level. For instance 'Pashto' can be taught in Punjab, Sindh and Balochistan. Similarly 'Sindhi' can be
Published 31 Mar, 2006 12:00am
Shortage of books in Karachi University

Shortage of books in Karachi University

I am a student of first year in Karachi University. But from the start of semester, many students, including myself, do not get the required books in the main library as well as in the central library or the book bank.
Published 31 Mar, 2006 12:00am
Passing away of a legend

Passing away of a legend

Muhammad Ali, a legend of the Pakistan film industry, has passed away leaving behind a vacuum which could hardly be filled. Besides being an outstanding movie star, he had been a passionate philanthropist looking after orphaned children and such instituti
Published 31 Mar, 2006 12:00am
China grapples with growing water shortage

China grapples with growing water shortage

Wang Zhanguo can't remember the last time it rained. "I think it rained once or twice last year, but I'm not sure," said Wang, a Muslim who lives in China's bleak, remote north-western region of Ningxia. "It definitely rained the year before that," he add
Published 31 Mar, 2006 12:00am
Foreigners seek profits in Istanbul property

Foreigners seek profits in Istanbul property

Peeling facades, abandoned buildings and potholed lanes in Istanbul's trendy Beyoglu mask a housing market boom which is tempting foreigners to invest in the city and doubling the price of a Bosphorus view.
Published 31 Mar, 2006 12:00am
Pak-India trade talks

Pak-India trade talks

The commerce secretaries of Pakistan and India, who led the latest round of the Joint Study Group (JSG) talks in Islamabad, tried to project much optimism at a press conference on Tuesday, saying they were extremely satisfied with what they were able to a
Published 31 Mar, 2006 12:00am
Human resource development

Human resource development

Human resource development is a key factor in the progress of a nation, and Prime Minister Shaukat Aziz has rightly stressed the importance of developing Pakistan's "human capital" to achieve scientific and economic advancement.
Published 31 Mar, 2006 12:00am
Smooth power supply during Eid-e-Milad ensured

Smooth power supply during Eid-e-Milad ensured

A meeting of the KESC City Co-ordination Committee, presided over by Director Customer Services Jamil Gul Shaikh, was held at KESC head office to review the final arrangements for ensuring smooth power supply during Eid-e-Milad-un-Nabi (PBUH).
Published 31 Mar, 2006 12:00am
APNS meeting today

APNS meeting today

The Annual General Council of the All Pakistan Newspapers Society (APNS) will meet on March 31, 2006 at 10:30 am at Karachi, said a press release of the APNS issued here on Thursday.
Published 31 Mar, 2006 12:00am
2,000 pirated CDs, DVDs seized

2,000 pirated CDs, DVDs seized

The officers of Intellectual Property Right (IPR) Enforcement Cell of the Customs Preventive Collectorate has recovered and seized two handbags containing 2,000 counterfeit/pirated optical discs from a passenger who was travelling for Nairobi via Dubai bo
Published 31 Mar, 2006 12:00am
IPEC to be held in June

IPEC to be held in June

Set to become Pakistan's biggest property show "International Property Exhibition and Conference (IPEC)" will be held at the Expo Centre here from June 16 to 18, according to the organisers, Events Unlimited (Pvt) Ltd.
Published 31 Mar, 2006 12:00am
Donation for Mazar-e-Quaid

Donation for Mazar-e-Quaid

The Chairman of Al-Tuwariqi Group of Companies, Saudi Arabia, Dr Hilal Hussain Al-Tuwariqi, has announced a donation of 100,000 dollars for the internal decoration of Mazar of Quaid-e-Azam.
Published 31 Mar, 2006 12:00am
Meezan Fund rated MFR 4-Star

Meezan Fund rated MFR 4-Star

The JCR-VIS Credit Rating Company Ltd (JCR-VIS) has assessed the Meezan Islamic Fund's (MIF) performance ranking for the period ended December 31, 2005 at 'MFR 4-Star', which denotes 'good performance' vis-à-vis other open-end stock funds, said a press re
Published 31 Mar, 2006 12:00am
Meezan Fund rated MFR 4-Star

Meezan Fund rated MFR 4-Star

The JCR-VIS Credit Rating Company Ltd (JCR-VIS) has assessed the Meezan Islamic Fund's (MIF) performance ranking for the period ended December 31, 2005 at 'MFR 4-Star', which denotes 'good performance' vis-à-vis other open-end stock funds, said a press re
Published 31 Mar, 2006 12:00am
The Weather

The Weather

The weather report on Thursday (March 30, 2006) and the forecast for Friday (March 31, 2006).
Published 31 Mar, 2006 12:00am
Petroleum dealers advised to formulate proposals

Petroleum dealers advised to formulate proposals

Ahmad Waqar, Secretary, Petroleum & Natural Resources, on Thursday advised the petrol pump owners and dealers to formulate proposals to address their concerns arising due to the recent rationalisation of margins calculation.
Published 31 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 31 Mar, 2006 12:00am
Mai Kolachi show in July

Mai Kolachi show in July

The Sindh government in collaboration with the Karachi Chamber of Commerce and Industry (KCCI) will hold "Mai Kolachi" show from July 14 to 17, 2006 in the Karachi Expo Center.
Published 31 Mar, 2006 12:00am
New York cotton

New York cotton

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

Published 31 Mar, 2006 12:00am
GSP status: KCCI seeks UK's help

GSP status: KCCI seeks UK's help

Karachi Chamber of Commerce and Industry (KCCI) President Haroon Farooki has impressed upon the European Union to provide a level playing field and an early grant of GSP plus status to Pakistan.
Published 31 Mar, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
AIC earns Rs 1163 million profit

AIC earns Rs 1163 million profit

The Adamjee Insurance Company Ltd has achieved the highest ever pre-tax profit of Rs 1,278 million and after tax profit of Rs 1,163 million while gross premium of Rs 6,682 million was the highest in the history of the Company. EPS of Rs 14.08 was also rec
Published 31 Mar, 2006 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
AIC earns Rs 1163 million profit

AIC earns Rs 1163 million profit

The Adamjee Insurance Company Ltd has achieved the highest ever pre-tax profit of Rs 1,278 million and after tax profit of Rs 1,163 million while gross premium of Rs 6,682 million was the highest in the history of the Company. EPS of Rs 14.08 was also rec
Published 31 Mar, 2006 12:00am
SSGC and Tuwairqi Steel ink HoT for gas supply

SSGC and Tuwairqi Steel ink HoT for gas supply

Sui Southern Gas Company (SSGC) has inked the Head of Terms (HoT) with Tuwairqi Steel Mills Limited. The HoT would lead to a General Sales Agreement (GSA) between the two companies, for the supply of natural gas for a 10-year period, with the option to ex
Published 31 Mar, 2006 12:00am
Bosan for more trade with Bangladesh

Bosan for more trade with Bangladesh

Federal Minister for Food and Agriculture Sikandar Hayat Bosan has said that great potential existed for further improving the trade volume between Pakistan and Bangladesh.
Published 31 Mar, 2006 12:00am
Soyem

Soyem

Soyem of Tayyaba Khanum, wife of State Bank of Pakistan (SBP) Executive Director Farhat Saeed, will be held on Friday, March 31, at D-58, Block-I, Clifton, Karachi, between Asr and Maghrib prayers.
Published 31 Mar, 2006 12:00am