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Print - 2006-06-10
India announces $218 million aid to Nepal

India announces $218 million aid to Nepal

India announced a 218-million-dollar economic package Friday to help Nepal's new government rebuild the troubled Himalayan country. "Essentially the package amounts to almost 10 billion Indian rupees or 15 billion Nepali rupees," foreign ministry spokesma
Published 10 Jun, 2006 12:00am
US court backs government broadband wiretap access

US court backs government broadband wiretap access

A US appeals court on Friday upheld the government's authority to force high-speed Internet service providers to give law enforcement authorities access for surveillance purposes.
Published 10 Jun, 2006 12:00am
France and Britain to set up nuclear energy forum

France and Britain to set up nuclear energy forum

France and Britain announced plans on Friday to set up a joint forum aimed at strengthening co-operation in civil nuclear power at a time of deep concern over European energy supplies and global warming.
Published 10 Jun, 2006 12:00am
US newspapers face more trouble in 2006

US newspapers face more trouble in 2006

The US newspaper industry is likely to face a "somber" second half of the year, with circulation and advertising revenue remaining under pressure, according to an analyst's report released on Friday.
Published 10 Jun, 2006 12:00am
Israel kills 9 Palestinians

Israel kills 9 Palestinians

Israeli airstrikes and artillery fire killed at least nine Palestinians on Friday, including six people on a crowded Gaza beach, Palestinian medics said. Among those killed on the shore were three children, including twins.
Published 10 Jun, 2006 12:00am
Don't over lend to poor countries: World Bank

Don't over lend to poor countries: World Bank

Fast-growing emerging nations should not lead poor countries into a new vicious spiral of indebtedness by over-lending, World Bank head Paul Wolfowitz urged on Friday.
Published 10 Jun, 2006 12:00am
Cyprus blocks EU accord on Turkey talks

Cyprus blocks EU accord on Turkey talks

Cyprus blocked agreement among European Union states on Friday on concluding the first detailed accession negotiations with Turkey, casting doubt on planned ministerial talks on Monday.
Published 10 Jun, 2006 12:00am
Bush curbs expectations of Iraq troop pullout

Bush curbs expectations of Iraq troop pullout

President George W. Bush tempered expectations on Friday of a quick US troop reduction in Iraq after the killing of Abu Musab al-Zarqawi, saying a war is not won with the death of a single enemy.
Published 10 Jun, 2006 12:00am
Tamil Tigers still committed to peace

Tamil Tigers still committed to peace

Sri Lankan rebel Tamil Tigers said on Friday they had reassured mediator Norway that they stood by their commitment to a cease-fire and peace process in their conflict with the Colombo government.
Published 10 Jun, 2006 12:00am
US bombs did not kill Zarqawi instantly

US bombs did not kill Zarqawi instantly

Abu Musab al-Zarqawi was still alive and tried to escape when American troops reached his hideout where war planes had dropped two 500-pound bombs that killed the al Qaeda leader, the US military said on Friday.
Published 10 Jun, 2006 12:00am
Iran given 'weeks not months' to mull offer

Iran given 'weeks not months' to mull offer

Western powers on Friday gave Iran just weeks to respond to a package of incentives to suspend its nuclear enrichment programme. The offer, which EU foreign policy chief Javier Solana personally delivered to Tehran earlier this week, was prepared by Germa
Published 10 Jun, 2006 12:00am
Indian rupee up

Indian rupee up

The Indian rupee ended higher on Friday after the central bank raised interest rates by 25 basis points and spurred on by stock market gains, which dealers said would make the Indian unit more attractive.
Published 10 Jun, 2006 12:00am
Sterling under pressure

Sterling under pressure

Sterling fell towards the previous day's one-month low against the dollar on Friday, staying soft on expectations UK interest rates will remain on hold for the rest of the year.
Published 10 Jun, 2006 12:00am
Euro stays down in London

Euro stays down in London

The euro held near a one-month low against the dollar on Friday after sliding the previous day on signs the European Central Bank would be modest in raising interest rates this year.
Published 10 Jun, 2006 12:00am
Bond indices rally as World Cup looms

Bond indices rally as World Cup looms

Europe's main credit default swap indexes rallied on Friday, as a rebound in US and European shares helped them pare some of the week's widening, but traders said the market was quiet ahead of the soccer World Cup.
Published 10 Jun, 2006 12:00am
Bond indices rally as World Cup looms

Bond indices rally as World Cup looms

Europe's main credit default swap indexes rallied on Friday, as a rebound in US and European shares helped them pare some of the week's widening, but traders said the market was quiet ahead of the soccer World Cup.
Published 10 Jun, 2006 12:00am
Chinese stocks slip

Chinese stocks slip

China shares closed 2.52 percent lower on Friday, posting their biggest weekly drop in more than three years, on concern that Bank of China's upcoming domestic share offer would draw funds from the wider market.
Published 10 Jun, 2006 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US blue chip stocks fell sharply on Friday, giving up gains from earlier in the session, as worries about higher interest rates and about slowing economic growth moved back into focus.
Published 10 Jun, 2006 12:00am
Seoul shares rebound

Seoul shares rebound

South Korean shares rose for the first time in four sessions to gain 1 percent on Friday, helped by a rebound in US stocks, as investors chased beaten-down companies such as top lender Kookmin Bank.
Published 10 Jun, 2006 12:00am
Miners lead FTSE rally

Miners lead FTSE rally

Mining stocks led Britain's top share index up on Friday, rallying after big falls on Thursday, but the FTSE 100 still scored a hefty loss on the week as interest rate worries persisted.
Published 10 Jun, 2006 12:00am
Agriculture may be next hot commodity story

Agriculture may be next hot commodity story

Farm products may take over from oil and base metals to become the next hot commodity market, boosted by strong demand from a booming biofuel sector, a senior analyst said on Friday.
Published 10 Jun, 2006 12:00am
Grain offers to EU intervention stores plummet

Grain offers to EU intervention stores plummet

High grain prices, active markets and smaller crops have led to low offers into European Union intervention stores in 2005/06, with the total almost equal to the amount of grain leaving the stores, traders said on Friday.
Published 10 Jun, 2006 12:00am
Oil rises 2 percent as Iraqi fears return

Oil rises 2 percent as Iraqi fears return

Oil rose nearly 2 percent on Friday as violence continued unabated in Iraq, dashing some hopes that the death of a top al Qaeda leader would turn the tide for the country's struggling oil sector.
Published 10 Jun, 2006 12:00am
Taiwan corn and wheat imports down

Taiwan corn and wheat imports down

Taiwan's imports of corn and wheat in 2006/2007 will decline slightly, but the United States will continue to command most of the market share for both commodities, according to a US Agriculture Department attache report released on Friday.
Published 10 Jun, 2006 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures closed mixed Friday as switch trade dominated business and market players said a government crop report merely confirmed the bullish outlook for the market, brokers said.
Published 10 Jun, 2006 12:00am
London sugar rises

London sugar rises

London white sugar futures closed up on Friday on trade buying and expectations of buying from Asia and the Middle East over the weekend, dealers said.
Published 10 Jun, 2006 12:00am
Copper turns down

Copper turns down

Copper closed lower on the London Metal Exchange (LME) on Friday on profit-taking in thin volumes, dealers said. "A bit of technical selling came in as the charts for copper looked a bit grim and trade was thin at best," a trader said.
Published 10 Jun, 2006 12:00am
Gold rebounds in London

Gold rebounds in London

Bargain-hunters and physical buyers returned to the bullion market on Friday, spurring a rally in the price of gold after it fell to its lowest since mid-April in early trade on a firmer dollar, analysts said.
Published 10 Jun, 2006 12:00am
US MIDDAY: cocoa rises

US MIDDAY: cocoa rises

Cocoa futures finished on positive ground Friday, with speculative short-covering, trade buying and switch trading propelling the front-month position to its loftiest price in a week, market sources said.
Published 10 Jun, 2006 12:00am
US MIDDAY: coffee climbs

US MIDDAY: coffee climbs

Front-month arabica coffee futures settled at a new eight-month low Friday, reversing early gains after a late round of speculative selling amid active spread and options-related trading, traders said.
Published 10 Jun, 2006 12:00am
US MIDDAY: sugar higher

US MIDDAY: sugar higher

Raw sugar prices closed mixed Friday in activity dominated by switch trade from investors getting out of the July contract since it will expire at the end of the month, brokers said.
Published 10 Jun, 2006 12:00am
US MIDDAY: corn turns down

US MIDDAY: corn turns down

Corn futures at the Chicago Board of Trade turned lower early on Friday on spillover selling from a faltering wheat futures market, traders said.
Published 10 Jun, 2006 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

COMEX copper futures traded higher in moderate business early Friday as the market stabilised itself after the previous day's 6.3 percent sell-off and prices looked to carve out new ranges, sources said.
Published 10 Jun, 2006 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Soft red winter wheat futures on the Chicago Board of Trade collapsed after early strength on Friday, and were sharply lower at midsession on technical selling by trend-following funds, traders said.
Published 10 Jun, 2006 12:00am
US MIDDAY: soyabeans up

US MIDDAY: soyabeans up

The Chicago Board of Trade soyabean market was firm on early on Friday, but it eased off its early highs when wheat backed off, traders said. CBOT wheat rallied on the open after the US Agriculture Department cut its US winter wheat and all-wheat producti
Published 10 Jun, 2006 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

US gold futures, along with other precious metals, resumed their uptrend early on Friday after a brief slip following a government report that lifted the dollar when it showed the US trade gap widened by less than expected, traders said.
Published 10 Jun, 2006 12:00am
UBL launches new 'Wallet VISA' card

UBL launches new 'Wallet VISA' card

After a number of successful launches, United Bank Limited takes pride in introducing the UBL Wallet ATM / Debit Card, now with the international power of VISA.
Published 10 Jun, 2006 12:00am
Import duty on export of metal scrap hailed

Import duty on export of metal scrap hailed

Local cottage industry, while expressing satisfaction over imposition of import duty @ 25 percent on export of metal scrap, has hoped that local scrap would again be available for use by local small industry.
Published 10 Jun, 2006 12:00am
41 Pakistani illegal immigrants die of suffocation

41 Pakistani illegal immigrants die of suffocation

At least 41 Pakistanis were killed due to suffocation in a trawler when they tried to illegally enter into Greece, AAJ TV reported on Friday. Most of the people belong to Punjab.
Published 10 Jun, 2006 12:00am
Two killed in accident

Two killed in accident

Two persons including a truck driver were killed and two others seriously injured in a head on collision between an oil tanker and truck at Jhang-Chinniot road Khanuana School, on Friday morning.
Published 10 Jun, 2006 12:00am
Smeda plans to modernise sports goods industry

Smeda plans to modernise sports goods industry

Under the directives of the federal government Small and Medium Enterprise Authority (Smeda) has prepared a multi-dimensional strategy for the modernisation of Sports goods industry, especially soccer ball manufacturing sector, enabling manufacturers to m
Published 10 Jun, 2006 12:00am
New Rescue-15 to help curb crimes in Faisalabad

New Rescue-15 to help curb crimes in Faisalabad

The construction of 4th Rescue-15 has been launched in Faisalabad, to effectively curb the activities of Criminals. This" Best Rescue-15 " is being constructed at Kashmir Bridge on Canal Road by Citizen-Police Liaison Committee (CPLC) in collaboration wit
Published 10 Jun, 2006 12:00am
Six alleged terrorists arrested

Six alleged terrorists arrested

Zahir Pir Police on Friday arrested 6 terrorists from a village who were allegedly involved in suicidal attacks and one of them, Ghulam Nazik, was involved in suicidal attack at Nipa Chowranghi, Karachi.
Published 10 Jun, 2006 12:00am
One window cell at Jinnah Hall

One window cell at Jinnah Hall

'One Window Cell' for facilitating establishment of Citizens Community Boards (CCBs) would be fully functional at Jinnah Hall from July 1, disclosed District Nazim Mian Amer Mahmood here on Thursday.
Published 10 Jun, 2006 12:00am
Removal of trees

Removal of trees

The City Government has removed the illegal encroachments, hoardings, billboards throughout the city to keep beautiful and clean. The city government now it is planning to remove trees from Hyder Ali Road (from Gulistan Chowrangi to Rangoonwala Hall), whi
Published 10 Jun, 2006 12:00am
Budget relief

Budget relief

The hope before budget announcement for the relief of common man and the actual relief announced in the budget showed a substantial difference and a shock. An increase of Rs 500 to Rs 1000 in the salaries of Grade I to Grade 17 justified the claim of Gove
Published 10 Jun, 2006 12:00am
Polio eradication

Polio eradication

In 1998, the World Health Assembly (WHA) resolved to launch the Global Polio Eradication Initiative at a time when poliovirus was endemic in more than 125 countries on five continents, paralysing more than 1000 children every day.
Published 10 Jun, 2006 12:00am
Old foes gird for fresh polls in Bangladesh

Old foes gird for fresh polls in Bangladesh

Bangladesh's two main parties are drawing up battle plans and recruiting loyalists for elections now just half a year away, one eye on the mounting pressure from investors and donors for good governance.
Published 10 Jun, 2006 12:00am
Rural markets, an emerging opportunity

Rural markets, an emerging opportunity

The fast moving consumer goods (FMCG) market is known as the wheel of economical growth. This sector helps improve quality of life, reduce unemployment by generating more jobs, prop up penetration of advanced technology and boosts produce of agricultural
Published 10 Jun, 2006 12:00am
Budget not aligned with macroeconomic realities: A Poisoned Chalice?

Budget not aligned with macroeconomic realities: A Poisoned Chalice?

The federal budget for 2006/07 has been presented in a difficult context -both political as well as macroeconomic. In our view, the policy response to these challenges, as set out in the budgetary proposals, is inadequate and/or inappropriate.
Published 10 Jun, 2006 12:00am
Need for changes in electricity conservation plan

Need for changes in electricity conservation plan

The abrupt decision of the provincial government to implement with immediate effect instead of June 15, its earlier order for closure of shops at dusk, to meet the electricity crisis, is only apt to add more to the confusion already created in the metropo
Published 10 Jun, 2006 12:00am
An embarrassing mix-up

An embarrassing mix-up

The issue of 35 percent regulatory duty clamped on the export of yellow split peas last month that had resulted in some 600 containers being stuck up at Karachi port, has finally been resolved with the government's "go ahead" signal to exporters to resume
Published 10 Jun, 2006 12:00am
B Com candidates to submit exam forms from today

B Com candidates to submit exam forms from today

The external candidates of B.com for the supplementary examinations 2005 can submit their examination forms from June 10 to 23. The Registrar of Karachi board announced this on Friday.
Published 10 Jun, 2006 12:00am
Early closure of shops hailed

Early closure of shops hailed

The early closure of shops and establishments by 8pm from June 9 has been appreciated by the Pakistan Cloth Merchants' Association (PCMA). In a statement issued to the press here on Friday Abid Chinoy, Central Chairman, PCMA said that this will save elect
Published 10 Jun, 2006 12:00am
Mobilink to premier MI3 in Pakistan

Mobilink to premier MI3 in Pakistan

Mobilink has joined hands with Box Office to bring Mission Impossible III (MI3), releasing on June 16 to the delight of cinemagoers across the country.
Published 10 Jun, 2006 12:00am
Malaysian firm interested in solid waste management

Malaysian firm interested in solid waste management

A reputed Malaysian company LGB Group has shown interest in solid waste management in Karachi. The company is already working on Solid Waste Management in China, Indonesia, Singapore and UAE.
Published 10 Jun, 2006 12:00am
GST on foreign travel resented

GST on foreign travel resented

Founder Chairman, North Karachi Association of Trade and Industry (NKATI) Captain A Moiz Khan has expressed resentment over the slamming of 15 percent GST on foreign travel.
Published 10 Jun, 2006 12:00am
INTERNATIONAL TENDERS

INTERNATIONAL TENDERS

Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
Published 10 Jun, 2006 12:00am
PPP leaders directed

PPP leaders directed

PPP Chairperson and former Prime Minister Benazir Bhutto has directed her party leaders to start mass contact campaign in all provinces. PPP leader ex senior minister Malik Mushtaq Awan said that Bhutto had ordered activists to hold public meetings agains
Published 10 Jun, 2006 12:00am
Government slammed

Government slammed

PPP Punjab Secretary Information, Farzana Raja has criticised the government for lodging cases against 12 PPPP leaders, who attended the public meeting in Murree, recently and termed this the character-assassination campaign of their leaders by the govern
Published 10 Jun, 2006 12:00am
Gilani celebrates birthday in prison

Gilani celebrates birthday in prison

A former speaker of National Assembly Yousaf Raza Gilani on Friday celebrated his birthday in Adiyala prison. His family members and children joined him under special orders of Punjab government. Ahmed Mujtaba Gilani, brother of Yousaf, told this correspo
Published 10 Jun, 2006 12:00am
PPP demands release of Gilani

PPP demands release of Gilani

Local PPP leaders Khurshid Khan president, M Saleem Raja general secretary, Malik Ahmed Husain Dehr divisional co-ordinator, Saleem ur Rehman Mayo chief organiser Asif Zardari Committee, Sharif Ullah Khan, Malik Qadir ul Hasan, Manzoor Qadri and Mirza Naz
Published 10 Jun, 2006 12:00am
NHA to install roadside communication system

NHA to install roadside communication system

The National Highways Authority has decided to install roadside communication system along Pindi Bhattian-Faisalabad Motorway (M-3), said NHA Sources. In a statement, he said the service would be available round the clock.
Published 10 Jun, 2006 12:00am
Train service with Iran not suspended: Rashid

Train service with Iran not suspended: Rashid

Federal Minister for Railways Sheikh Rashid Ahmed said on Friday that train service between Pakistan and Iran had not been suspended and was running as per schedule. In his written reply to a question, he said no change in the schedule of train service ha
Published 10 Jun, 2006 12:00am
MUET body proposes financial matter to university syndicate

MUET body proposes financial matter to university syndicate

Vice Chancellor, Mehran University of Engineering and Technology Jamshoro, Dr Abdul Qadeer Khan Rajput has called upon intellectuals and scholars to join hands for further enhancement of the educational standard at large and at Mehran University in partic
Published 10 Jun, 2006 12:00am
The Weather

The Weather

The weather report on Friday (June 09, 2006) and the forecast for Saturday (June 10, 2006).
Published 10 Jun, 2006 12:00am
Tanneries given six-month to shift business

Tanneries given six-month to shift business

The Punjab Environment department has given ultimatum to owners of tanneries in Multan and Sialkot to shift their businesses outside the cities within six months otherwise their cases would be sent to the Environment tribunal.
Published 10 Jun, 2006 12:00am
New York cotton

New York cotton

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

Published 10 Jun, 2006 12:00am
Five textiles associations to form single platform

Five textiles associations to form single platform

Five textile associations of Faisalabad have constituted a council of common interest named "All Faisalabad Textile Association", to launch struggle for highlighting and resolving of textile related problems completely ignored in the new Federal Budget.
Published 10 Jun, 2006 12:00am
New York cotton

New York cotton

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

Published 10 Jun, 2006 12:00am
UK evolves plan to discourage trend of forced marriages

UK evolves plan to discourage trend of forced marriages

The British government has evolved an integrated strategy to intervene for discouraging the trend of forced marriages besides to extend moral and legal aid to the British citizens, who used to become victims of the menace.
Published 10 Jun, 2006 12:00am
Key stock and currency market movements at 1700 GMT

Key stock and currency market movements at 1700 GMT

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 10 Jun, 2006 12:00am
ABC hails budget

ABC hails budget

The American Business Council (ABC), welcoming the federal budget appreciated reduction of highest personal tax rate from 30 percent to 20 percent as well as increasing the minimum tax bracket from Rs 100,000 to Rs 150,000 (Rs 200,000 for women).
Published 10 Jun, 2006 12:00am
'CBR working to offset negative effects of tax on salaried class'

'CBR working to offset negative effects of tax on salaried class'

The problems of trade imbalance, poverty, unemployment and inflationary trend have primarily arisen due to substantial real decline in small and medium sized industries. ICAP president and partner AF Ferguson & Co S.M. Shabbar Zaidi, speaking at a post-bu
Published 10 Jun, 2006 12:00am
'CBR working to offset negative effects of tax on salaried class'

'CBR working to offset negative effects of tax on salaried class'

The problems of trade imbalance, poverty, unemployment and inflationary trend have primarily arisen due to substantial real decline in small and medium sized industries. ICAP president and partner AF Ferguson & Co S.M. Shabbar Zaidi, speaking at a post-bu
Published 10 Jun, 2006 12:00am
Speakers call to establish Central Bureau of Translation

Speakers call to establish Central Bureau of Translation

Speakers at a meeting of Shura Hamdard Karachi Chapter have asked the government to allocate enough amount in national budget to establish Central Bureau of Translation on large scale to give priority to education particularly to primary education.
Published 10 Jun, 2006 12:00am
Finance Bill to be passed on June 22

Finance Bill to be passed on June 22

A meeting of the House Business Advisory Committee (BAC) was held under the chairmanship of Speaker National Assembly Chaudhry Amir Hussain here on Friday. According to a press release issued here the meeting discussed and approved the revised schedule fo
Published 10 Jun, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 09, 2006).

Published 10 Jun, 2006 12:00am
Plea for parliamentary body to fix oil prices

Plea for parliamentary body to fix oil prices

The transporters community on Friday demanded that a bipartisan parliamentary committee, comprising members of both ruling and opposition benches, should be set up to fix oil prices in the country.
Published 10 Jun, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (June 09, 2006) and for Saturday (June 10, 2006).
Published 10 Jun, 2006 12:00am
Mushahid seeks EU's help to settle Kashmir dispute

Mushahid seeks EU's help to settle Kashmir dispute

Senate Foreign Relations Committee Chairman Mushahid Hussain Sayed appreciating the role of European Union on various issues concerning Muslim Ummah urged the EU to make a meaningful contribution in facilitating a peaceful settlement of the Kashmir disput
Published 10 Jun, 2006 12:00am
Kashmiri team meets EU official

Kashmiri team meets EU official

A Kashmiri delegation met Ms Baroness Nicholson, the Vice-President of Foreign Affairs Committee in the European Parliament here on Friday. She is in Islamabad on a visit of both sides of Jammu and Kashmir to take stock of the latest situation.
Published 10 Jun, 2006 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (June 09, 2006).

Published 10 Jun, 2006 12:00am
Rs 400-500 billion to be spent on roads network: minister

Rs 400-500 billion to be spent on roads network: minister

Minister for Communication, Muhammad Shamim Siddiqui said on Friday that Rs 400-500 billion would be spent on roads network in the country during the next ten years and the process is going on smoothly.
Published 10 Jun, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 09, 2006).

Published 10 Jun, 2006 12:00am
Muttahida toeing establishment's agenda: Baloch

Muttahida toeing establishment's agenda: Baloch

The Muttahida Majlis-i-Amal (MMA) on Friday alleged that Muttahida Qaumi Movement (MQM) was politicking with the blessing of civil and military bureaucracy without roots in the society.
Published 10 Jun, 2006 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 09, 2006).

Published 10 Jun, 2006 12:00am
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