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Print - 2006-03-31
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
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
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
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: 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: 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: 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: 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
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
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
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
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
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
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
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
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
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
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (March 30, 2006).
Published 31 Mar, 2006 12:00am
Plea against proposed PSM sell-off dismissed

Plea against proposed PSM sell-off dismissed

The Sindh High Court (SHC) on Thursday dismissed the petition against the proposed privatisation of the Pakistan Steel Mill (PSM) by the Privatisation Commission (PC).
Published 31 Mar, 2006 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
Tribunal fails to resolve NWFP-Wapda dispute

Tribunal fails to resolve NWFP-Wapda dispute

The arbitration tribunal constituted by the federal government for the resolution of the longstanding net profit dispute between Water & Power Development Authority (Wapda) and North West Frontier Province has failed to resolve the matter during stipulate
Published 31 Mar, 2006 12:00am
Schlumberger offers expertise to oil and gas sector

Schlumberger offers expertise to oil and gas sector

Schlumberger-a technology and solution providing company in oil and gas sector-has offered its integrated expertise to contain unwanted water in oil wells while maintaining or increasing productivity of recoverable reserves.
Published 31 Mar, 2006 12:00am
Simplified rule to collect 'activation charges' suggested

Simplified rule to collect 'activation charges' suggested

A mobile phone company has suggested to the Central Board of Revenue (CBR) to simplify the procedure of collecting 'activation charges' from the subscribers making it more cost-effective from next fiscal year.
Published 31 Mar, 2006 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
Foreign diplomats meet Punjab University vice chancellor

Foreign diplomats meet Punjab University vice chancellor

A 24-member delegation of diplomats from Afghanistan, Burkina Faso, Iraq, Kazakhstan, Laos, Lesotho, Morocco, Senegal, Sierra Leone, Tanzania, TRNC, Yemen and Zimbabwe called on Punjab University vice-chancellor Arshad Mahmood here Thursday.
Published 31 Mar, 2006 12:00am
Pakistan's economy to remain robust: survey

Pakistan's economy to remain robust: survey

Pakistan's economy would remain robust this year with gross domestic production (GDP) growth rate at 6.5 percent, says the Economic and Social Survey of Asia and the Pacific-2006.
Published 31 Mar, 2006 12:00am
PAF inducts first four women pilots

PAF inducts first four women pilots

The Vice Chief of Army Staff General Ahsan Saleem Hayat on Thursday said the Pakistan Air Force (PAF) was at the cutting edge of our defence capability and had always lived up to the nation's inspirations.
Published 31 Mar, 2006 12:00am
Incidence of stroke assumes alarming proportions

Incidence of stroke assumes alarming proportions

Health experts said that approximately in every 20 minutes someone is struck by stroke (Falij). An estimated 0.5 million people suffer from stroke in Pakistan.
Published 31 Mar, 2006 12:00am
Mughal-e-Azam to be screened in Pakistan on June 2

Mughal-e-Azam to be screened in Pakistan on June 2

Mughal-e-Azam, one of the greatest cinematic epics would be released all over Pakistan on June 2. This was announced by Nadeem Mandviwala, the official distributor of the film in Pakistan, at a press conference held at a local hotel on Thursday.
Published 31 Mar, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
Business Recorder staffer grieved

Business Recorder staffer grieved

Masood Khan, general manager, Qaumi Akhbar and younger brother of daily Business Recorder Assistant Business Manager Tarique Khan passed away on Wednesday, (March 29) due to heart failure.
Published 31 Mar, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (March 30, 2006).

Published 31 Mar, 2006 12:00am
Privatisation of banks flayed

Privatisation of banks flayed

The privatisation of banks and its services for the depositors came under bitter criticism at a pre-budget public forum, organised by the Pakistan People's Party (PPP), at the Conference Room of the Sindh Assembly on Thursday to make recommendation for bu
Published 31 Mar, 2006 12:00am