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Print - 2006-05-29
US diplomat for troop cut in Indian occupied Kashmir

US diplomat for troop cut in Indian occupied Kashmir

US Diplomat John W. McDonald, who is also the chairman of the Institute for Multi-Track Diplomacy (IMTD), has called upon New Delhi to cut troops in occupied Kashmir, said Kashmir Media Service while quoting media reports.
Published 29 May, 2006 12:00am
US diplomat for troop cut in Indian occupied Kashmir

US diplomat for troop cut in Indian occupied Kashmir

US Diplomat John W. McDonald, who is also the chairman of the Institute for Multi-Track Diplomacy (IMTD), has called upon New Delhi to cut troops in occupied Kashmir, said Kashmir Media Service while quoting media reports.
Published 29 May, 2006 12:00am
New sales tax refund rules to expedite payment

New sales tax refund rules to expedite payment

New sales tax refund rules would be introduced in the coming budget to minimise delay in payment of refunds to the exporters. The Central Board of Revenue (CBR) may also set up a ''centralised refund office'' at Islamabad in the wake of successful experie
Published 29 May, 2006 12:00am
New sales tax refund rules to expedite payment

New sales tax refund rules to expedite payment

New sales tax refund rules would be introduced in the coming budget to minimise delay in payment of refunds to the exporters. The Central Board of Revenue (CBR) may also set up a 'centralised refund office' at Islamabad in the wake of successful experienc
Published 29 May, 2006 12:00am
New sales tax refund rules to expedite payment

New sales tax refund rules to expedite payment

New sales tax refund rules would be introduced in the coming budget to minimise delay in payment of refunds to the exporters. The Central Board of Revenue (CBR) may also set up a 'centralised refund office' at Islamabad in the wake of successful experienc
Published 29 May, 2006 12:00am
Presumptive tax system for exporters to continue

Presumptive tax system for exporters to continue

While turning down a proposal to bring exports into general assessment scheme, the government has decided to continue with he presumptive tax regime for exporters during 2006-07, it is learnt.
Published 29 May, 2006 12:00am
Presumptive tax system for exporters to continue

Presumptive tax system for exporters to continue

While turning down a proposal to bring exports into general assessment scheme, the government has decided to continue with he presumptive tax regime for exporters during 2006-07, it is learnt.
Published 29 May, 2006 12:00am
Presumptive tax system for exporters to continue

Presumptive tax system for exporters to continue

While turning down a proposal to bring exports into general assessment scheme, the government has decided to continue with he presumptive tax regime for exporters during 2006-07, it is learnt.
Published 29 May, 2006 12:00am
Futures spread down

Futures spread down

Volatile conditions and onslaught from bears resulted in leverage position moving down as speculators and punters are now going out of the market.
Published 29 May, 2006 12:00am
Futures spread down

Futures spread down

Volatile conditions and onslaught from bears resulted in leverage position moving down as speculators and punters are now going out of the market.
Published 29 May, 2006 12:00am
Futures spread down

Futures spread down

Volatile conditions and onslaught from bears resulted in leverage position moving down as speculators and punters are now going out of the market.
Published 29 May, 2006 12:00am
Futures spread down

Futures spread down

Volatile conditions and onslaught from bears resulted in leverage position moving down as speculators and punters are now going out of the market.
Published 29 May, 2006 12:00am
KSE hits 10-week low

KSE hits 10-week low

Political uncertainties clubbed with the Sindh government and rumours that the government would tax share business in the forthcoming budget hampered any fresh investment.
Published 29 May, 2006 12:00am
KSE hits 10-week low

KSE hits 10-week low

Political uncertainties clubbed with the Sindh government and rumours that the government would tax share business in the forthcoming budget hampered any fresh investment.
Published 29 May, 2006 12:00am
KSE hits 10-week low

KSE hits 10-week low

Political uncertainties clubbed with the Sindh government and rumours that the government would tax share business in the forthcoming budget hampered any fresh investment.
Published 29 May, 2006 12:00am
TDA likely to replace EPB next week

TDA likely to replace EPB next week

The establishment of proposed Trade Development Authority (TDA), to replace the Export Promotion Bureau (EPB), is likely to be announced in the first week of June, 2006.
Published 29 May, 2006 12:00am
TDA likely to replace EPB next week

TDA likely to replace EPB next week

The establishment of proposed Trade Development Authority (TDA), to replace the Export Promotion Bureau (EPB), is likely to be announced in the first week of June, 2006.
Published 29 May, 2006 12:00am
TDA likely to replace EPB next week

TDA likely to replace EPB next week

The establishment of proposed Trade Development Authority (TDA), to replace the Export Promotion Bureau (EPB), is likely to be announced in the first week of June, 2006.
Published 29 May, 2006 12:00am
ECC may discuss cement price issue today

ECC may discuss cement price issue today

The Ministry of Industries and Production has opposed any relaxation to cement manufacturers till such time as they set ex-factory price at Rs 275 per bag and advertise retail price in the newspapers, official sources told Business Recorder on Sund
Published 29 May, 2006 12:00am
ECC may discuss cement price issue today

ECC may discuss cement price issue today

The Ministry of Industries and Production has opposed any relaxation to cement manufacturers till such time as they set ex-factory price at Rs 275 per bag and advertise retail price in the newspapers, official sources told Business Recorder on Sund
Published 29 May, 2006 12:00am
ECC may discuss cement price issue today

ECC may discuss cement price issue today

The Ministry of Industries and Production has opposed any relaxation to cement manufacturers till such time as they set ex-factory price at Rs 275 per bag and advertise retail price in the newspapers, official sources told Business Recorder on Sund
Published 29 May, 2006 12:00am
Winds of war win Cannes honours: Loach gets Palme d'Or

Winds of war win Cannes honours: Loach gets Palme d'Or

Veteran British filmmaker Ken Loach overcame tough competition on Sunday to win the coveted Palme d'Or as the Cannes jury handed out honours here to films dealing with the brutalities of war.
Published 29 May, 2006 12:00am
Iran and Russia agree to continue nuclear talks

Iran and Russia agree to continue nuclear talks

Russia and Iran wrapped up high-level talks on the Islamic republic's nuclear programme on Sunday, with Tehran saying both sides agreed to continue negotiations and work towards a peaceful solution to the crisis.
Published 29 May, 2006 12:00am
The Weather

The Weather

The weather report on Sunday (May 28, 2006) and the forecast for Monday (May 29, 2006).
Published 29 May, 2006 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (May 22 to 27, 2006).

Published 29 May, 2006 12:00am
Incidence of water and foodborne diseases is rising

Incidence of water and foodborne diseases is rising

FOOD-BORNE and water-borne diseases continue to have a major impact on health. Food-borne illness is a common, distressing, and sometimes life-threatening problem for millions of people.
Published 29 May, 2006 12:00am
Thalassaemia - a major challenge!

Thalassaemia - a major challenge!

MOST of us have heard the name of the disease Thalassaemia but few know about it. The word Thalassaemia is formed from two Greek words "thalassa" meaning sea and "haima" meaning blood.
Published 29 May, 2006 12:00am
Lemonade can prevent kidney stones

Lemonade can prevent kidney stones

Drinking lemonade could help prevent painful kidney stones, conclude two studies presented earlier this week at the American Urological Association annual meeting in Atlanta.
Published 29 May, 2006 12:00am
Earth-solar cycle spurs greenhouse gases

Earth-solar cycle spurs greenhouse gases

Greenhouse gases are known to spur global warming, but scientists said on May 22 that global warming in turn spurs greenhouse gas emissions - which means Earth could get hotter faster than climate models predict.
Published 29 May, 2006 12:00am
HEALTH UPDATE: eye warning call for cigarettes

HEALTH UPDATE: eye warning call for cigarettes

Experts are calling for cigarette packets to carry a warning that smoking can cause blindness following the discovery that smoking and passive smoking can cause age-related macular degeneration (AMD), the leading cause of blindness.
Published 29 May, 2006 12:00am
HEALTH UPDATE: cooling can save brain

HEALTH UPDATE: cooling can save brain

Cooling the body and brain in a controlled way can help prevent neurological damage and improve survival after a person suffers cardiac arrest, a US study finds.
Published 29 May, 2006 12:00am
HEALTH UPDATE: chocolate may boost brain power

HEALTH UPDATE: chocolate may boost brain power

Chocolate lovers rejoice. A new study hints that eating milk chocolate may boost brain function. "Chocolate contains many substances that act as stimulants, such as theobromine, phenethylamine, and caffeine," Dr Bryan Raudenbush from Wheeling Jesuit Unive
Published 29 May, 2006 12:00am
HEALTH UPDATE: vegan diet lowers odds of having twins

HEALTH UPDATE: vegan diet lowers odds of having twins

Women who eat a vegan diet - a strict vegetarian diet that excludes all animal products including milk - are one-fifth as likely as other women to have twins, a US researcher reported on Saturday.
Published 29 May, 2006 12:00am
Intel to power low-cost PCs in India

Intel to power low-cost PCs in India

Intel Corp, the world's largest chip maker, said on Tuesday it would spearhead an initiative to sell cheaper computers in India to increase usage and world's third-largest economy.
Published 29 May, 2006 12:00am
KDDI to launch Sony Walkman phone in Japan

KDDI to launch Sony Walkman phone in Japan

KDDI Corp, Japan's number two mobile operator, announced plans Monday to offer a Walkman phone with music player developed jointly with Sony Ericsson as competition heats up in the sector.
Published 29 May, 2006 12:00am
Afghan mobile service

Afghan mobile service

The UAE's state-controlled telecommunications firm Etisalat signed an agreement with Afghanistan to operate a second mobile network in the violence-torn country, the company said.
Published 29 May, 2006 12:00am
Southeast Asian cyber attacks still way off

Southeast Asian cyber attacks still way off

Southeast Asian extremist groups have turned to the Internet to recruit people and raise funds but they have not yet been able to mount cyber attacks, a security expert said.
Published 29 May, 2006 12:00am
Mergers may be next trend for big Internet companies

Mergers may be next trend for big Internet companies

Speculation is rife on Wall Street that a big Internet deal or alliance is in the works, with Google, Yahoo, eBay or Microsoft as possible partners - and a Yahoo-eBay partnership seen as most likely.
Published 29 May, 2006 12:00am
LCD TV sales rise 135 percent

LCD TV sales rise 135 percent

Global sales of thin LCD televisions rose 135 percent to 7.4 million units in the first quarter of 2006, with Philips Electronics leading with a 13.9 percent market share, a survey showed on May 25.
Published 29 May, 2006 12:00am
Mobile number sells for $2.8 million

Mobile number sells for $2.8 million

A special mobile phone number has been auctioned in Qatar for 10 million riyals ($2.8 million), the state-owned news agency QNA said. Eight participants at an auction dinner held in Doha by the national telecommunications company Qtel pushed up the stakes
Published 29 May, 2006 12:00am
Wipro to hit IT target

Wipro to hit IT target

Wipro Ltd is on track to boost its IT services revenue by 34 percent in the April-June quarter as it books strong sales to overseas clients, the chairman of India's third-largest software exporter said on May 26.
Published 29 May, 2006 12:00am
Wipro to hit IT target

Wipro to hit IT target

Wipro Ltd is on track to boost its IT services revenue by 34 percent in the April-June quarter as it books strong sales to overseas clients, the chairman of India's third-largest software exporter said on May 26.
Published 29 May, 2006 12:00am
Dell India plant to be ready by end-2006

Dell India plant to be ready by end-2006

Dell Inc expects its proposed Indian plant to begin production by end-2006 and help the world's largest personal computer maker to win share in a booming market by cutting delivery time.
Published 29 May, 2006 12:00am
In Short: flaw found in Symantec antivirus software

In Short: flaw found in Symantec antivirus software

Versions of Symantec Corp's anti-virus business security software contain a flaw that could put millions of computers at risk of a crippling worm attack, Internet experts warned on May 26.
Published 29 May, 2006 12:00am
Mitsubishi UFJ reports $10.5 billion profit

Mitsubishi UFJ reports $10.5 billion profit

Japanese banking giant Mitsubishi UFJ Financial Group said on May 22 that it had swung to an annual net profit of 1.18 trillion yen (10.48 billion dollars) from a big loss a year earlier as bad debts shrank and an economic recovery picked up.
Published 29 May, 2006 12:00am
Mitsubishi UFJ reports $10.5 billion profit

Mitsubishi UFJ reports $10.5 billion profit

Japanese banking giant Mitsubishi UFJ Financial Group said on May 22 that it had swung to an annual net profit of 1.18 trillion yen (10.48 billion dollars) from a big loss a year earlier as bad debts shrank and an economic recovery picked up.
Published 29 May, 2006 12:00am
EU trading rules too tough for some markets

EU trading rules too tough for some markets

European Union rules that are set to revolutionise share trading in the 25-nation bloc will be too onerous for some markets and prompt brokers to ditch parts of their business to avoid red tape, a study showed on May 22.
Published 29 May, 2006 12:00am
Wal-Mart pulls out of Korea

Wal-Mart pulls out of Korea

US giant Wal-Mart Stores, the world's largest discount store chain, will sell its South Korean business to local retail group Shinsegae for 825 billion won (874 million dollars), officials said on May 22.
Published 29 May, 2006 12:00am
Wal-Mart pulls out of Korea

Wal-Mart pulls out of Korea

US giant Wal-Mart Stores, the world's largest discount store chain, will sell its South Korean business to local retail group Shinsegae for 825 billion won (874 million dollars), officials said on May 22.
Published 29 May, 2006 12:00am
Property law to give Dubai boom new lease of life

Property law to give Dubai boom new lease of life

A new real estate law will delay a widely anticipated real estate downturn in Dubai by attracting more investment into property, especially from foreign institutions, a top government developer said.
Published 29 May, 2006 12:00am
After Enron climax, US rethinks law on corporate scandals

After Enron climax, US rethinks law on corporate scandals

After the dramatic convictions in the Enron fraud trial, analysts expect fresh scrutiny of the law, inspired by one of corporate America's worst scandals, toughening standards for business leaders.
Published 29 May, 2006 12:00am
After Enron climax, US rethinks law on corporate scandals

After Enron climax, US rethinks law on corporate scandals

After the dramatic convictions in the Enron fraud trial, analysts expect fresh scrutiny of the law, inspired by one of corporate America's worst scandals, toughening standards for business leaders.
Published 29 May, 2006 12:00am
Microsoft tells contract workers to take 7 days off

Microsoft tells contract workers to take 7 days off

Microsoft Corp told more than 1,000 contract workers doing software development and testing to take seven business days off without pay to lower costs during this quarter, the company said on Monday.
Published 29 May, 2006 12:00am
Russian steel leaders forecast more mergers

Russian steel leaders forecast more mergers

Russian steel companies are likely to join forces in the pursuit of overseas assets, the owner of Evraz Group, Russia's largest steel maker by volume, said on May 26.
Published 29 May, 2006 12:00am
Canadian, European and Asian banks seen targeting US

Canadian, European and Asian banks seen targeting US

Canadian, European and eventually Asian banks are likely to feature prominently in mergers and acquisitions in the United States in the coming years, according to John Chrin, head of financial institution M&A at J.P. Morgan.
Published 29 May, 2006 12:00am
Money grows on French trees, but slowly

Money grows on French trees, but slowly

The area in France covered by forest has grown by a third in the last 50 years, partly due to private investors who have funded reforestation programmes as part of long-term, tax-efficient investment plans.
Published 29 May, 2006 12:00am
Labour supply in China seen shrinking

Labour supply in China seen shrinking

China, long known for its abundant workforce, is beginning to show signs of a shortage of cheap labour, state media said Sunday. Despite official figures indicating about 150 million excess labourers from the countryside are waiting to find jobs in cities
Published 29 May, 2006 12:00am
African countries battle 'oil curse'

African countries battle 'oil curse'

Experts call it the "oil curse". In Africa's oil exporting countries, only a tiny fraction of revenues is used to fight poverty, and in many cases black gold has actually become a hurdle to development.
Published 29 May, 2006 12:00am
Kuwait eyes Dow, BP and Shell, for possible China plant

Kuwait eyes Dow, BP and Shell, for possible China plant

Dow Chemical Co and either British Petroleum or Shell may be partners in a joint-venture refinery project in China that Kuwait is considering to help build, a Kuwaiti official said on Saturday.
Published 29 May, 2006 12:00am
Bangladesh hikes development budget to record $3.8 billion

Bangladesh hikes development budget to record $3.8 billion

Bangladesh Sunday increased development spending by 21 percent to a record 3.8 billion dollars for the new fiscal year to create more jobs and cut poverty ahead of general elections, a senior official said.
Published 29 May, 2006 12:00am
Prodi to sound out EU on deficit deadline

Prodi to sound out EU on deficit deadline

Prime Minister Romano Prodi is heading to Brussels to sound out what space there might be for extra time to reduce Italy's budget deficit to below the European Union limit, a government source said on Sunday.
Published 29 May, 2006 12:00am
Oil may top $105 in major supply outage: expert

Oil may top $105 in major supply outage: expert

A Goldman Sachs projection that oil prices could top $100 a barrel in the event of a major supply disruption could be conservative in the current tight market, said a senior executive with the US investment bank.
Published 29 May, 2006 12:00am
New Zealand economic slowdown raises emigration fears

New Zealand economic slowdown raises emigration fears

When New Zealand's former prime minister Sir Robert Muldoon was asked his view of the flood of economic migrants quitting the country for sunnier and richer Australia, he said he approved because it would raise the average IQ on both sides of the Tasman S
Published 29 May, 2006 12:00am
'Iran must tap petrodollars to avoid fuel crisis'

'Iran must tap petrodollars to avoid fuel crisis'

Iran's parliamentary energy commission said on Sunday Tehran should tap its dollar reserves to avoid politically sensitive gasoline rationing or inflationary price hikes at the pumps before March 2007.
Published 29 May, 2006 12:00am
Dollar slump may spur closer economic ties in Asia

Dollar slump may spur closer economic ties in Asia

The dollar's slide against Asian currencies could provide a catalyst for greater regional economic co-operation in an effort to avoid another financial crisis, experts said.
Published 29 May, 2006 12:00am
Vodafone may cut 6,000 jobs

Vodafone may cut 6,000 jobs

Mobile phone giant Vodafone will this week disclose details of a cost-cutting program that could lead to its axing 6,000 jobs from its workforce world-wide, a newspaper said Sunday.
Published 29 May, 2006 12:00am
Herron and Pernice share St Jude's Classic lead

Herron and Pernice share St Jude's Classic lead

Tim Herron, seeking his second PGA Tour victory in as many weeks, carded a two-under 68 on Saturday to share the third-round lead at the 4.9 million-dollar St. Jude's Classic with Tom Pernice.
Published 29 May, 2006 12:00am
Sunday, bloody Sunday as Federer blasts early start

Sunday, bloody Sunday as Federer blasts early start

World number one Roger Federer led a chorus of disapproval over the controversial decision to begin the French Open on a Sunday, the first time a Grand Slam has dropped its traditional Monday start.
Published 29 May, 2006 12:00am
France edge Mexico in World Cup prep

France edge Mexico in World Cup prep

Florent Malouda helped France to a 1-0 win over Mexico in a lively World Cup warm-up game at the Stade de France here on Saturday. "That was precisely what we were looking for - a proper warm-up match," said coach Raymond Domenech.
Published 29 May, 2006 12:00am
Bradman's bat auctioned for big dollars

Bradman's bat auctioned for big dollars

The first Test bat used by Australian cricket great Donald Bradman was sold for 58,000 dollars (43,500 US) at an auction here on Sunday.
Published 29 May, 2006 12:00am
Plunkett and Pietersen set up England victory

Plunkett and Pietersen set up England victory

Liam Plunkett's rapid three-wicket haul provided the platform Sunday for England to beat Sri Lanka by six wickets in the second Test here at Edgbaston and take a 1-0 lead in the three-match series.
Published 29 May, 2006 12:00am
Strange wins Philippine Open

Strange wins Philippine Open

Australian Scott Strange decisively won the Philippine Open with a five-shot victory on Sunday to hand him his second Asian Tour title.
Published 29 May, 2006 12:00am
Vaughan looking at Scotland comeback

Vaughan looking at Scotland comeback

Michael Vaughan could play his first competitive match of 2006 when Yorkshire face Scotland in the Cheltenham and Gloucester one-day competition at Headingley on Sunday.
Published 29 May, 2006 12:00am
Hong Kong shares likely to trade firmer

Hong Kong shares likely to trade firmer

Hong Kong share prices are likely to trade firmer on bargain-hunting this week following recent heavy losses but gains will be capped ahead of debut trading by the Bank of China, dealers said.
Published 29 May, 2006 12:00am
Taiwan shares may stage rebound

Taiwan shares may stage rebound

Taiwan share prices are expected to stage a technical rebound this week but strength may be capped on continued concerns over inflation and possible interest rate hikes, dealers said.
Published 29 May, 2006 12:00am
Japanese shares seen bouncing back

Japanese shares seen bouncing back

Japanese shares are seen bouncing back this week as the rout of emerging markets and commodities wears out and the yen loses its strength, analysts said.
Published 29 May, 2006 12:00am
Asian currencies mixed as markets await Fed move

Asian currencies mixed as markets await Fed move

Asian currencies ended the week mixed against the dollar with markets awaiting key US economic data for clues as to whether the Federal Reserve is likely to continue its cycle of interest rate hikes at its next meeting in June.
Published 29 May, 2006 12:00am
Brazil stock market to close for World Cup

Brazil stock market to close for World Cup

Football-mad Brazilians will put business on the backburner next month when Brazil defends its World Cup crown and competes for a record sixth championship title in Germany.
Published 29 May, 2006 12:00am
Vietnam's stock market: the hot new game in town

Vietnam's stock market: the hot new game in town

Vietnam's stock exchange has outpaced every other Asian bourse this year as investors in a country with a passion for betting have discovered the newest game in town - equity trading.
Published 29 May, 2006 12:00am
Indian stock market bull run stalled as foreign funds get jitters

Indian stock market bull run stalled as foreign funds get jitters

Just over two weeks ago, Mumbai's stock market was looking unstoppable as it moved by leaps and bounds to new record highs. But now investors are licking their wounds after a brutal correction that has pulled the benchmark Sensex index down by 14 percent
Published 29 May, 2006 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Bangladesh interbank buy/sell rates for the taka against the dollar on Sunday. 69.40/69.50 (previous 69.25/69.50) Call Money Rates: 12.00-21.00 percent (previous 11.00-27.00 percent).
Published 29 May, 2006 12:00am
British stock market looking to extend recovery

British stock market looking to extend recovery

London's FTSE 100 index of leading shares resumes trading next Tuesday after a long holiday weekend, with investors seeking to build on this week's rebound following recent heavy falls.
Published 29 May, 2006 12:00am
Thai shares to fall on US rate uncertainty, inflation

Thai shares to fall on US rate uncertainty, inflation

Thai share prices are expected to fall this week due to uncertainty over the direction of US interest rates, with investors trading with caution over the kingdom's inflation, dealers said.
Published 29 May, 2006 12:00am
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