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Print - 2006-04-03
Iran producing oil at Opec quota

Iran producing oil at Opec quota

Iran is producing oil at its Opec quota even though production from its Soroush and Nowrouz fields fluctuates, a senior oil official was quoted as saying by Iran's ISNA news agency on Sunday.
Published 03 Apr, 2006 12:00am
France braces for new show of force in jobs row

France braces for new show of force in jobs row

France was braced Sunday for a new show of force over a youth jobs law after unions, students and the left-wing opposition rejected a government offer of compromise, calling protestors back into the streets.
Published 03 Apr, 2006 12:00am
Norway workers go on strike

Norway workers go on strike

About 16,000 construction workers went on strike in Norway on Sunday after talks with employers broke down. The workers, affiliated to the Fellesforbundet union confederation, accused employers in a statement of failing to meet demands for a national pay
Published 03 Apr, 2006 12:00am
Researchers see Chinese inflation at 1 percent

Researchers see Chinese inflation at 1 percent

Chinese consumers will pay only 1 percent more for goods and services in 2006 as overcapacity pushes inflation down from last year's 1.8 percent, government and university researchers said in a report published on Sunday.
Published 03 Apr, 2006 12:00am
'Troubled Doha Round talks inch forward'

'Troubled Doha Round talks inch forward'

Faltering global trade talks inched ahead at meetings in Rio de Janeiro, US, Brazilian and European officials said on Saturday, adding it was still possible to meet an April 30 deadline for agreeing on cutting tariffs on farm and manufactured goods.
Published 03 Apr, 2006 12:00am
Deutsche Bank chairman quits over Kirch court case

Deutsche Bank chairman quits over Kirch court case

The chairman of Deutsche Bank Rolf Breuer is resigning after a court decided he and the bank could be liable for comments Breuer made that media mogul Leo Kirch said led to the collapse of his empire.
Published 03 Apr, 2006 12:00am
Kuwait's Investment Dar plans $1.5 billion Islamic bonds

Kuwait's Investment Dar plans $1.5 billion Islamic bonds

Kuwait's Investment Dar is arranging $1.5 billion in floating rate Islamic bonds in 2006, most of which will fund regional real estate projects, company officials told Reuters in an interview.
Published 03 Apr, 2006 12:00am
Kuwait's Investment Dar plans $1.5 billion Islamic bonds

Kuwait's Investment Dar plans $1.5 billion Islamic bonds

Kuwait's Investment Dar is arranging $1.5 billion in floating rate Islamic bonds in 2006, most of which will fund regional real estate projects, company officials told Reuters in an interview.
Published 03 Apr, 2006 12:00am
Alcatel to buy Lucent for $13 billion

Alcatel to buy Lucent for $13 billion

French telecoms equipment group Alcatel said on Sunday it had finalised a deal to buy Lucent Technologies for around $13 billion to strengthen its position in a consolidating market.
Published 03 Apr, 2006 12:00am
Maternal health services need improvement

Maternal health services need improvement

Women's issues are an extremely low priority and needed to be focused on as the situation has neither improved nor any headway could be made in achieving the targets in this regard.
Published 03 Apr, 2006 12:00am
Grape seeds extract could be vital for reducing high blood pressure

Grape seeds extract could be vital for reducing high blood pressure

A new study by researchers at the University of California, Davis has revealed that grape seeds extract helps control blood pressure. This study was the first clinical trial to assess the benefits of grape seeds extract in people who had metabolic syndrom
Published 03 Apr, 2006 12:00am
Huge urban growth threatens safe water, sanitation: UN

Huge urban growth threatens safe water, sanitation: UN

With urban populations in Asia, Africa and Latin America slated to double to nearly 4 billion, a UN report on Mar 29 called for new efforts to meet the challenges this trend poses to providing safe water and sanitation.
Published 03 Apr, 2006 12:00am
HEALTH UPDATE: depression rate high among diabetics

HEALTH UPDATE: depression rate high among diabetics

Investigators have found that about 25 percent of patients with diabetes have symptoms of depression, confirming the relationship between these two conditions. Rates of depression were similar across ethnic groups, but there were significant differences i
Published 03 Apr, 2006 12:00am
HEALTH UPDATE: video games tackle 'lazy eye'

HEALTH UPDATE: video games tackle 'lazy eye'

One eye works better than the other Playing virtual reality computer games may help treat the condition known as amblyopia, or lazy eye, say researchers.
Published 03 Apr, 2006 12:00am
Philips shows product concepts designed with users

Philips shows product concepts designed with users

Dutch Philips Electronics on March 28 unveiled innovative product ideas that emerged from its design laboratories in collaboration with consumers seeking friendlier high technology gadgets.
Published 03 Apr, 2006 12:00am
'Mysterious' mobile phone calls spark panic in India

'Mysterious' mobile phone calls spark panic in India

Authorities moved March 28 to quash panic among mobile phone users in eastern India after a rumour that "devil calls" from certain numbers have led to death and illness. People started turning off their handsets after a rumour swept Orissa state of phones
Published 03 Apr, 2006 12:00am
Australia registers world's first anti-spam code of practice

Australia registers world's first anti-spam code of practice

Australian regulators registered what they said was the world's first industry code for battling spam, a set of rules that could impose massive fines on Internet service providers who fail to help counter the plague of unwanted emails.
Published 03 Apr, 2006 12:00am
Teen charged with felony for e-mails threatening Bush

Teen charged with felony for e-mails threatening Bush

A 13-year-old boy has been charged with a felony for sending two e-mails threatening President George W. Bush ahead of his upcoming visit to Cincinnati, Ohio, local media reported March 29.
Published 03 Apr, 2006 12:00am
Virgin says on track to be world's first spaceline

Virgin says on track to be world's first spaceline

Richard Branson's Virgin Group is on track to become the world's first commercial spaceline, with suborbital flights for space tourists due to start in 2008, the British billionaire said on March 29.
Published 03 Apr, 2006 12:00am
Online music makes up for CD sales losses

Online music makes up for CD sales losses

Online music sales will grow rapidly over the next five years, although traditional music sales will still make up almost two thirds of revenues in 2011, a survey by market researcher Forrester said on March 27.
Published 03 Apr, 2006 12:00am
Computer cops fight insurance fraud

Computer cops fight insurance fraud

Alex Motamedi was an American success story. Starting with a small body shop, he built a chain of medical clinics and law firms from California to Florida that processed a total more than $10 million worth of insurance claims.
Published 03 Apr, 2006 12:00am
Computer cops fight insurance fraud

Computer cops fight insurance fraud

Alex Motamedi was an American success story. Starting with a small body shop, he built a chain of medical clinics and law firms from California to Florida that processed a total more than $10 million worth of insurance claims.
Published 03 Apr, 2006 12:00am
Israeli couple jailed over computer virus

Israeli couple jailed over computer virus

An Israeli couple convicted of inventing a computer virus that set off a major industrial espionage investigation were sentenced to jail on March 27, court documents showed.
Published 03 Apr, 2006 12:00am
Infineon unveils 'Qimonda' memory chips firm

Infineon unveils 'Qimonda' memory chips firm

Infineon unveiled its new memory chips firm on March 31: a company named "Qimonda" worth around 3 billion euros ($3.6 billion) to be carved out of its parent on May 1, two months earlier than planned.
Published 03 Apr, 2006 12:00am
Exchanges, banks hit limits as volume booms

Exchanges, banks hit limits as volume booms

Exponential growth in volumes and sweeping new European rules on trade transparency will force exchanges and investment banks to increase capacity, industry experts say.
Published 03 Apr, 2006 12:00am
Yahoo Japan to take stake in SMFG online bank

Yahoo Japan to take stake in SMFG online bank

Yahoo Japan Corp will ally with Sumitomo Mitsui Financial Group (SMFG) in online banking by taking a stake in the lender's Internet subsidiary Japan Net Bank, the companies said on March 30.
Published 03 Apr, 2006 12:00am
Nomura eyes 4 trillion yen online trading volume

Nomura eyes 4 trillion yen online trading volume

Nomura Holdings Inc expects its new online venture Joinvest Securities Co to handle trades worth 4 trillion yen ($34 billion) a month by March 2007, Joinvest president Masaki Fukui said on March 29.
Published 03 Apr, 2006 12:00am
Nomura eyes 4 trillion yen online trading volume

Nomura eyes 4 trillion yen online trading volume

Nomura Holdings Inc expects its new online venture Joinvest Securities Co to handle trades worth 4 trillion yen ($34 billion) a month by March 2007, Joinvest president Masaki Fukui said on March 29.
Published 03 Apr, 2006 12:00am
Valero Holdings files for $474 million units IPO

Valero Holdings files for $474 million units IPO

Valero GP Holdings LLC, a holding company of Valero Energy Corp, filed with US regulators on March 31 to offer up to $474 million in an initial public offering of units.
Published 03 Apr, 2006 12:00am
Valero Holdings files for $474 million units IPO

Valero Holdings files for $474 million units IPO

Valero GP Holdings LLC, a holding company of Valero Energy Corp, filed with US regulators on March 31 to offer up to $474 million in an initial public offering of units.
Published 03 Apr, 2006 12:00am
Vietnam shipping firm raises $10.5 million in IPO

Vietnam shipping firm raises $10.5 million in IPO

The Vietnam Ocean Shipping Agency, a major firm in the country's shipping sector, has raised 166.98 billion dong ($10.5 million) by selling 38.6 percent of its shares at an initial public offering, the country's bourse said.
Published 03 Apr, 2006 12:00am
Vietnam shipping firm raises $10.5 million in IPO

Vietnam shipping firm raises $10.5 million in IPO

The Vietnam Ocean Shipping Agency, a major firm in the country's shipping sector, has raised 166.98 billion dong ($10.5 million) by selling 38.6 percent of its shares at an initial public offering, the country's bourse said.
Published 03 Apr, 2006 12:00am
Arbitrator ruling may prompt tobacco payment cuts

Arbitrator ruling may prompt tobacco payment cuts

Tobacco companies could move a step closer to reducing their settlement payments to 46 states by billions of dollars when an arbitrator determines what caused them to lose market share.
Published 03 Apr, 2006 12:00am
Bahrain sets up company to acquire foreign assets

Bahrain sets up company to acquire foreign assets

The Gulf Arab kingdom of Bahrain is creating a holding company to manage government assets and scour the globe for strategic investment opportunities, a senior government official said.
Published 03 Apr, 2006 12:00am
Google chief executive, co-founders stick to $1 salary in 2006

Google chief executive, co-founders stick to $1 salary in 2006

Google Inc co-founders and its chief executive will continue to receive $1 each in annual salary and forego bonuses in 2006, while holding shares potentially worth billions of dollars in the Web search leader, according to regulatory filings.
Published 03 Apr, 2006 12:00am
Top bankers bemoan growing burden of regulation

Top bankers bemoan growing burden of regulation

Some of the world's top bankers bemoaned on March 31 growing red tape which is burdening the global banking industry, and they appeared to get a sympathetic hearing from US and British regulators.
Published 03 Apr, 2006 12:00am
Indian markets likely to be volatile

Indian markets likely to be volatile

Indian markets are likely to see volatile trading next week with investors keen to lock in gains at higher levels and local funds buying selectively into index and mid-sized companies, dealers said.
Published 03 Apr, 2006 12:00am
Thai stocks outlook tied to elections

Thai stocks outlook tied to elections

The performance of Thai share prices next week hinges on the outcome of weekend polls called by Premier Thaksin Shinawatra in a bid to end the country's political crisis, analysts said Friday.
Published 03 Apr, 2006 12:00am
Taiwan shares may extend gains

Taiwan shares may extend gains

Taiwan share prices are expected to extend their gains next week on foreign interest in high tech stocks, led by market heavyweight Taiwan Semiconductor Manufacturing Co (TSMC), dealers said Friday.
Published 03 Apr, 2006 12:00am
Tokyo shares seen rising but cautious over Tankan

Tokyo shares seen rising but cautious over Tankan

Japanese share prices are expected to rise moderately next week on upbeat expectations over corporate earnings and the start of a new fiscal year, analysts said Friday.
Published 03 Apr, 2006 12:00am
Indonesian rupiah leads Asian currencies

Indonesian rupiah leads Asian currencies

The Indonesian rupiah rose sharply and other Asian currencies moved higher on Friday, buoyed by a yen rally, signs of a faster rise in the Chinese yuan and a recovery in emerging market assets in Europe and Latin America.
Published 03 Apr, 2006 12:00am
Hong Kong shares may fall on technical rebound

Hong Kong shares may fall on technical rebound

Hong Kong stocks are likely to trade lower next week on a continuing technical correction and persistent concerns over interest rates, dealers said Friday.
Published 03 Apr, 2006 12:00am
Malaysian shares expected to rebound

Malaysian shares expected to rebound

Malaysian shares are expected to stage a rebound next week after the government announces plans to carry out infrastructure projects to boost the construction sector, analysts said Friday.
Published 03 Apr, 2006 12:00am
Australian stocks likely to maintain winning streak

Australian stocks likely to maintain winning streak

The Australian share market is expected to struggle to maintain the record-breaking pace of the past fortnight next week as profit taking hits the buoyant resources sector, dealers said Friday.
Published 03 Apr, 2006 12:00am
Singapore equities expected to rise

Singapore equities expected to rise

Singapore shares are expected to rise next week after the key Straits Times Index touched a six-year high, dealers said. "Investors are not just looking at the casino resort development but at the broad property market," a dealer at a local brokerage said
Published 03 Apr, 2006 12:00am
Philippines shares likely to bounce back

Philippines shares likely to bounce back

Philippines share prices may bounce back next week ending a recent sharp slide, dealers said Friday. "For the past days, we corrected. We might see some rise in the following week," said Gomer Tan of Regina Capital Development Corp, referring to the downt
Published 03 Apr, 2006 12:00am
Interest rate call on horizon for British investors

Interest rate call on horizon for British investors

Britain's stock market, which reached five-year highs during the first quarter on strong earnings and take-over activity, will turn its attention next week to the Bank of England's latest decision on interest rates.
Published 03 Apr, 2006 12:00am
John Paul remembered

John Paul remembered

Tens of thousands of people from around the world flocked to the Vatican on Sunday to mark the first anniversary of the death of Pope John Paul and pray that he be made a saint soon.
Published 03 Apr, 2006 12:00am
Thais vote, but crisis likely to drag on

Thais vote, but crisis likely to drag on

Thais voted on Sunday in a general election that Prime Minister Thaksin Shinawatra called three years early to counter a protracted street campaign by anti-corruption protesters to kick him out.
Published 03 Apr, 2006 12:00am
Congress faces popularity test in Assam elections

Congress faces popularity test in Assam elections

The insurgency-hit north-east Indian state of Assam goes to the polls on Monday in a vote seen as testing public approval for Prime Minister Manmohan Singh's policies almost two years after he took office.
Published 03 Apr, 2006 12:00am
28 killed in China factory explosions

28 killed in China factory explosions

At least 28 workers were killed and 10 missing in China after separate blasts ripped through two plants dealing with dangerous explosives, state media reported Sunday.
Published 03 Apr, 2006 12:00am
Hamas may take a year to end armed chaos

Hamas may take a year to end armed chaos

Palestinian interior minister Said Siam said Sunday it could take a year for his Hamas government to end armed chaos in Gaza after three people were killed in clashes between rival militants.
Published 03 Apr, 2006 12:00am
Five policemen killed in Taleban attack

Five policemen killed in Taleban attack

Suspected Taleban insurgents on motorbikes opened fire on a police checkpoint in volatile southern Afghanistan Sunday, killing five policemen, a witness and doctor said.
Published 03 Apr, 2006 12:00am
Chasm among US lawmakers over immigration bill

Chasm among US lawmakers over immigration bill

US lawmakers clashed on Sunday over whether to let some illegal immigrants stay in the United States and work for citizenship, suggesting compromise may elude Congress on a politically sensitive issue.
Published 03 Apr, 2006 12:00am
Russia supplies enriched uranium fuel to India

Russia supplies enriched uranium fuel to India

India has received an initial shipment of enriched uranium fuel from Russia for a nuclear power plant in the western state of Maharashtra, a report said Sunday.
Published 03 Apr, 2006 12:00am
US 'committed' to Iran diplomacy: Rice

US 'committed' to Iran diplomacy: Rice

US Secretary of State Condoleezza Rice, in an interview broadcast Sunday in Britain, said the United States remains "committed" to pursuing a diplomatic solution to the Iran nuclear crisis.
Published 03 Apr, 2006 12:00am
Former US general says Rumsfeld should quit

Former US general says Rumsfeld should quit

A former senior US military commander, Anthony Zinni, on Sunday called for the dismissal of Defence Secretary Donald Rumsfeld over critical mistakes made in the Iraq war. Zinni, who headed the US Central Command from 1997 to 2000, was asked if anyone shou
Published 03 Apr, 2006 12:00am
Capsized boat was not licensed to sail: Bahrain

Capsized boat was not licensed to sail: Bahrain

A cruise boat that capsized off the coast of Bahrain killing at least 58 foreigners was sailing without a proper licence, the country's Interior Ministry said.
Published 03 Apr, 2006 12:00am
UK government to discuss consequences of attack on Iran

UK government to discuss consequences of attack on Iran

The British government is to hold secret talks with defence chiefs on Monday to discuss the consequences of possible military strikes against Iran, the Sunday Telegraph newspaper reported.
Published 03 Apr, 2006 12:00am
Two US pilots, four troops killed in Iraq

Two US pilots, four troops killed in Iraq

The US military on Sunday announced the deaths of six of its troops across Iraq, including two pilots of a helicopter that was shot down by insurgents the day before.
Published 03 Apr, 2006 12:00am
Mountain farming in northern region

Mountain farming in northern region

Pessimistic beliefs stating that the Northern Areas of Pakistan offer little possibility for introducing agricultural production, due to acidity and scarcity of land, have been belied.
Published 03 Apr, 2006 12:00am
Five killed as van falls into canal

Five killed as van falls into canal

At least five people including two women have died and another 15 injured when a Jalalpur Pirwala bound Toyota Hiace van fell into a canal at a Pul-Ashiqabad near Chowk Naag Shah in Multan when two vans were engaged in racing on Multan-Shujabad-Jalalpur P
Published 03 Apr, 2006 12:00am
Five killed as van falls into canal

Five killed as van falls into canal

At least five people including two women have died and another 15 injured when a Jalalpur Pirwala bound Toyota Hiace van fell into a canal at a Pul-Ashiqabad near Chowk Naag Shah in Multan when two vans were engaged in racing on Multan-Shujabad-Jalalpur P
Published 03 Apr, 2006 12:00am
Model agriculture farms to be established

Model agriculture farms to be established

After introduction of its own health and education policy, now District Government has announced its own agriculture policy under this, a chains of model farms would be established in each rural union council of Multan, cows and buffaloes would be given o
Published 03 Apr, 2006 12:00am
Toronto prepares for bird flu pandemic

Toronto prepares for bird flu pandemic

Toronto's deadly brush with the SARS virus three years ago has uniquely prepared the city for the possibility of a bird flu pandemic, health officials say.
Published 03 Apr, 2006 12:00am
Ad hoc policies hinder cotton activities

Ad hoc policies hinder cotton activities

Besides many other reasons, adhocism is rather the main contributing factor in the failure of the government policies in various sectors. Despite being rich in resources, the country's pace of progress is drastically slow because of adhoc policies adopted
Published 03 Apr, 2006 12:00am
Hub power share prices

Hub power share prices

Since the last few months, several letters have appeared in the Press regarding the continuous fall of Hub Power share prices yet, neither the company nor the SECP, that is supposed to be the watchdog of the small investors have given any valid explanatio
Published 03 Apr, 2006 12:00am
Elizabeth Hurley

Elizabeth Hurley

Apropos photograph, of Imran Khan escorting British Actress Elizabeth Hurley, the erstwhile Channel Model (Business Recorder, March 18, 2006) at the Karachi Airport, I recall her quote to the Sunday Times in London in February 1996 :Real life.
Published 03 Apr, 2006 12:00am
Development aid emerges as trade talks sweetener

Development aid emerges as trade talks sweetener

Negotiators trying to clinch a long-fought World Trade Organisation (WTO) pact to lower global trade barriers are debating a development aid boost to help sweeten the deal for poor countries.
Published 03 Apr, 2006 12:00am
Correcting the external sector imbalance

Correcting the external sector imbalance

Pakistan's overall balance of payments has almost always been in negative with the exception of one/two years in 1950s -when the Korean war boosted our exports- and two years or so in the aftermath of 9/11 when we became reasonably surplus in the external
Published 03 Apr, 2006 12:00am
Mystery around sugar

Mystery around sugar

Prime Minister Shaukat Aziz presided over a meeting last Thursday to review the sugar situation, where it was decided that the sugar mills would not be allowed to hold more than 25 percent of their production at any given time. The decision, of course, ha
Published 03 Apr, 2006 12:00am
Illegal use of water by Punjab

Illegal use of water by Punjab

The admission by some Punjab government officials at the Irsa meeting that the province used water in excess of its allocated share from the Indus during the Rabi season to tide over the prolonged dry spell, seems to vindicate Sindh's charge of water pilf
Published 03 Apr, 2006 12:00am
India urged to respond positively to Pakistan's proposals

India urged to respond positively to Pakistan's proposals

India must respond positively to President Pervez Musharraf's proposals of demilitarisation and self-governance to concretise the historic peace opportunity and resolve Kashmir dispute once for all, a senior Kashmiri leader Chaudhry Maqbool Raza Rajorvi s
Published 03 Apr, 2006 12:00am
All economic sectors post record growth: Rashid

All economic sectors post record growth: Rashid

Federal Minister for Information and Broadcasting Sheikh Rashid Ahmed on Sunday said all the economic sectors like exports and privatisation had registered record growth.
Published 03 Apr, 2006 12:00am
PSM sale slammed

PSM sale slammed

The Anti-Privatisation Alliance (APA), a broad-based coalition of progressive political workers, trade unionists, intellectuals and activists has strongly condemned the sale of Pakistan Steel Mills, terming it yet another concession of the government to t
Published 03 Apr, 2006 12:00am
Soomro calls for joint ventures with Sri Lanka in banking

Soomro calls for joint ventures with Sri Lanka in banking

Senate Chairman Mohammedmian Soomro on Saturday said the possibilities of joint ventures in the banking sector should be explored as it would definitely facilitate trade deals and promote trade between Pakistan and Sri Lanka.
Published 03 Apr, 2006 12:00am
Nadra system enables banks to identify genuine citizens

Nadra system enables banks to identify genuine citizens

The National Database and Registration Authority (Nadra) is providing quick, authentic and foolproof personality verifications through its online systems, enabling banks and other authorities to facilitate genuine citizens in their day-to-day transactions
Published 03 Apr, 2006 12:00am
MONEY WEEK: private sector borrowing close to full-year target

MONEY WEEK: private sector borrowing close to full-year target

The State Bank did not release monetary data for the week ended on 18th March. According to available data, during the week ended on 4th March, government bank borrowing exceeded the year-end target by Rs 4 billion.
Published 03 Apr, 2006 12:00am
Nomination

Nomination

All Pakistan Anjuman Tajran President Haji Maqsood Butt has nominated Ghulam Sarwar Malik as Vice-President Anjuman Tajran-e-Lahore. In a letter, Anjuman Tajran-e-Lahore President Muhammad Ashraf Bhatti said that his nomination was recognition of his serv
Published 03 Apr, 2006 12:00am
APNS office-bearers felicitated

APNS office-bearers felicitated

Punjab Chief Minister Chaudhry Pervaiz Elahi has congratulated newly elected office bearers of All Pakistan News Paper Society (APNS) here on Saturday and hoped they would play their due role in that regard.
Published 03 Apr, 2006 12:00am
Alpha Insurance declares cash dividend, bonus shares

Alpha Insurance declares cash dividend, bonus shares

At a meeting of the Board of Directors of Alpha Insurance Company Ltd, held on March 29, 2006, the Financial Statements for the year ended on December 31, 2005, were approved.
Published 03 Apr, 2006 12:00am
Alpha Insurance declares cash dividend, bonus shares

Alpha Insurance declares cash dividend, bonus shares

At a meeting of the Board of Directors of Alpha Insurance Company Ltd, held on March 29, 2006, the Financial Statements for the year ended on December 31, 2005, were approved.
Published 03 Apr, 2006 12:00am
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