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Print - 2006-08-01
Turkey's trade deficit swells to $4.216 billion

Turkey's trade deficit swells to $4.216 billion

Turkey's trade deficit swelled 7.9 percent year-on-year to $4.216 billion in June, the Turkish Statistics Institute said on Monday, but undercut the median forecast of $4.55 billion in a Reuters poll.
Published 01 Aug, 2006 12:00am
Japan's industrial output rises

Japan's industrial output rises

Japan's industrial production rose a stronger-than-expected 1.9 percent in June, government data showed on Monday, indicating an economic upturn was intact. The figure compared with a median market forecast for a 1.3 percent increase and followed a 1.3 pe
Published 01 Aug, 2006 12:00am
Japan's MUFG profit falls

Japan's MUFG profit falls

Mitsubishi UFJ Financial Group (MUFG), the world's biggest bank by assets, said quarterly profit dropped 16 percent from a year earlier due to losses on its bond holdings, while rival Mizuho Financial Group posted a 33 percent earnings gain.
Published 01 Aug, 2006 12:00am
Japan's MUFG profit falls

Japan's MUFG profit falls

Mitsubishi UFJ Financial Group (MUFG), the world's biggest bank by assets, said quarterly profit dropped 16 percent from a year earlier due to losses on its bond holdings, while rival Mizuho Financial Group posted a 33 percent earnings gain.
Published 01 Aug, 2006 12:00am
Zimbabwe devalues, redenominates currency

Zimbabwe devalues, redenominates currency

Zimbabwe's central bank devalued its dollar by an effective 60 percent on Monday and knocked three zeros off all banknotes to help consumers cope with hyperinflation of nearly 1,200 percent.
Published 01 Aug, 2006 12:00am
ABN Amro second quarter profit rises

ABN Amro second quarter profit rises

Dutch bank ABN Amro reported on Monday a 23 percent rise in quarterly net profit and the 1.7 billion euros ($2.2 billion) sale of its Bouwfonds property unit, but its shares fell more than 3 percent on disappointment over expenses and provisioning.
Published 01 Aug, 2006 12:00am
ABN Amro second quarter profit rises

ABN Amro second quarter profit rises

Dutch bank ABN Amro reported on Monday a 23 percent rise in quarterly net profit and the 1.7 billion euros ($2.2 billion) sale of its Bouwfonds property unit, but its shares fell more than 3 percent on disappointment over expenses and provisioning.
Published 01 Aug, 2006 12:00am
Russia ups GDP, oil price forecasts

Russia ups GDP, oil price forecasts

The Russian government has raised its official gross domestic product growth forecast (GDP) for 2006 to 6.5 percent from 6.1 percent, a senior government source told Reuters on Monday. The source said the government had raised its 2007 forecast to 6.0 per
Published 01 Aug, 2006 12:00am
Australian shares close 0.56 percent higher

Australian shares close 0.56 percent higher

Australian share prices closed 0.56 percent higher on Monday as investor sentiment was buoyed by a strong lead from Wall Street Friday, dealers said. They said sentiment got a boost after lower-than-expected US economic growth data on Friday cooled expect
Published 01 Aug, 2006 12:00am
Pearson confident after first half tops forecasts

Pearson confident after first half tops forecasts

Pearson Plc, the book and newspaper publisher, expressed confidence it would hit full-year targets after achieving 8 percent first-half revenue growth and with the lion's share of profit still to come.
Published 01 Aug, 2006 12:00am
Pearson confident after first half tops forecasts

Pearson confident after first half tops forecasts

Pearson Plc, the book and newspaper publisher, expressed confidence it would hit full-year targets after achieving 8 percent first-half revenue growth and with the lion's share of profit still to come.
Published 01 Aug, 2006 12:00am
AtoVaz's general director quits

AtoVaz's general director quits

The general director of Russia's No 1 car maker AvtoVaz has resigned over differences with management, including a plan to sell a major stake to French carmaker Renault, business daily Kommersant said on Monday.
Published 01 Aug, 2006 12:00am
Kookmin Bank second quarter profit beats forecasts

Kookmin Bank second quarter profit beats forecasts

Kookmin Bank South Korea's top lender, on Monday reported a 41 percent rise in quarterly profit that beat forecasts, and said the $7.3 billion take-over of a rival was expected to be completed by year-end.
Published 01 Aug, 2006 12:00am
Kookmin Bank second quarter profit beats forecasts

Kookmin Bank second quarter profit beats forecasts

Kookmin Bank South Korea's top lender, on Monday reported a 41 percent rise in quarterly profit that beat forecasts, and said the $7.3 billion take-over of a rival was expected to be completed by year-end.
Published 01 Aug, 2006 12:00am
Slovak government makes unconditional commitment to euro

Slovak government makes unconditional commitment to euro

The new Slovak government will aim "without conditions" to adopt the euro in 2009 and balance socially-oriented policies with the need to cut the budget deficit, the cabinet's programme said on Monday.
Published 01 Aug, 2006 12:00am
Philippines may cut domestic borrowing in fourth quarter

Philippines may cut domestic borrowing in fourth quarter

The Philippine government may cut its domestic borrowing in the fourth quarter given its stronger fiscal performance and smaller-than-planned spending budget this year, National Treasurer Omar Cruz said on Monday.
Published 01 Aug, 2006 12:00am
ECB to hike this year but budgets dog 2007 outlook

ECB to hike this year but budgets dog 2007 outlook

The European Central Bank has flagged an interest rate increase for this week, but a sharper than expected slowdown in the United States and budget austerity ahead for Europe raise new questions over future hikes.
Published 01 Aug, 2006 12:00am
Suzuki and Subaru post higher first quarter profits

Suzuki and Subaru post higher first quarter profits

Japan's Suzuki Motor Corp and Subaru-maker Fuji Heavy Industries Ltd reported improved quarterly earnings on Monday as expanded vehicle sales and a weaker yen offset higher commodities costs, and they kept their forecasts for the full year unchanged.
Published 01 Aug, 2006 12:00am
Suzuki and Subaru post higher first quarter profits

Suzuki and Subaru post higher first quarter profits

Japan's Suzuki Motor Corp and Subaru-maker Fuji Heavy Industries Ltd reported improved quarterly earnings on Monday as expanded vehicle sales and a weaker yen offset higher commodities costs, and they kept their forecasts for the full year unchanged.
Published 01 Aug, 2006 12:00am
Irish economy seen growing at potential: central bank

Irish economy seen growing at potential: central bank

Ireland's economy is expected to continue to grow at close to full potential this year, Ireland's central bank said on Monday. In its quarterly bulletin, the bank reiterated that it expected both gross domestic and gross national product to grow by 5 perc
Published 01 Aug, 2006 12:00am
Taiwan bullet train to finish fund-raising efforts

Taiwan bullet train to finish fund-raising efforts

The builder of Taiwan's billion-dollar bullet train project moved a step closer to completing the project by its October target date after borrowing T$40.7 billion (US $1.2 billion) from local banks on Monday.
Published 01 Aug, 2006 12:00am
European funds raise equity

European funds raise equity

European investors raised their holdings of equities and bonds slightly in July despite concerns about the potential for higher interest rates and war in the Middle East, a Reuters poll showed.
Published 01 Aug, 2006 12:00am
European funds raise equity

European funds raise equity

European investors raised their holdings of equities and bonds slightly in July despite concerns about the potential for higher interest rates and war in the Middle East, a Reuters poll showed.
Published 01 Aug, 2006 12:00am
Jakarta shares led by Telkom stocks

Jakarta shares led by Telkom stocks

Jakarta share prices closed 1.6 percent higher on Monday, led by Telkom and banking stocks as sentiment was bolstered by the rupiah's firming, Wall Street's recent gains and mostly upbeat regional markets, dealers said.
Published 01 Aug, 2006 12:00am
Philippines shares close 2.63 percent higher

Philippines shares close 2.63 percent higher

Philippines share prices closed 2.63 percent higher on Monday as investors bought into blue chips expecting higher earnings for the second quarter, dealers said. Philippine Long Distance Telephone (PLDT) led the charge as investors also bought into some l
Published 01 Aug, 2006 12:00am
Hong Kong shares surge

Hong Kong shares surge

Hong Kong stocks edged up 0.1 percent on Monday in their sixth straight gaining session as Hang Lung Properties and other real estate shares climbed on growing expectations that US interest rates would soon peak.
Published 01 Aug, 2006 12:00am
JGBs mixed, 10-year auction

JGBs mixed, 10-year auction

Japanese government bonds were mixed on Monday as gains in US Treasuries helped futures prices recover slightly, while a firm tone in the Tokyo stock market kept investors cautious about buying.
Published 01 Aug, 2006 12:00am
JGBs mixed, 10-year auction

JGBs mixed, 10-year auction

Japanese government bonds were mixed on Monday as gains in US Treasuries helped futures prices recover slightly, while a firm tone in the Tokyo stock market kept investors cautious about buying.
Published 01 Aug, 2006 12:00am
Seoul shares jump on exporters

Seoul shares jump on exporters

Seoul shares hit their highest in two months at one point on Monday as hopes for an end to US interest rate increases lifted exporters, but gains were cut late in the session as wireless operators slumped after KTF reported weak earnings.
Published 01 Aug, 2006 12:00am
Indian shares rally

Indian shares rally

Indian share prices closed 0.60 percent higher on Monday led by strong regional markets and quarterly earnings, dealers said. They said interest was seen in large and small cap stocks with local mutual funds aggressive buyers. The 30-share Sensex index ga
Published 01 Aug, 2006 12:00am
Taiwan stocks sag on tech woes

Taiwan stocks sag on tech woes

Taiwan stocks fell 0.39 percent from a two-week high on Monday as a warning by tech company Phoenix Precision about a supply glut raised concerns the technology industry's recovery will come later than expected.
Published 01 Aug, 2006 12:00am
Chinese shares decline on IPOs

Chinese shares decline on IPOs

Chinese shares tumbled 2.97 percent on Monday, hit by a slew of new listings, including one by Poly Real Estate Group Co Ltd, and disappointing first-half earnings by some companies.
Published 01 Aug, 2006 12:00am
Singapore shares rise

Singapore shares rise

Singapore share prices closed 0.66 percent higher on Monday led by blue chips ahead of second quarter results while Friday's gains on Wall Street gave sentiment an additional boost, dealers said.
Published 01 Aug, 2006 12:00am
Thai shares close flat

Thai shares close flat

Thai share prices closed flat on Monday with investors sidelined ahead of the release of second-quarter profit results, dealers said. They said the market also held up amid an upbeat regional performance, with investors selling blue chip shares and awaiti
Published 01 Aug, 2006 12:00am
Malaysian shares slightly firmer

Malaysian shares slightly firmer

Malaysian share prices closed 0.12 percent higher on Monday, helped by reports of investments worth some four billion dollars to develop an economic hub in the country's south, dealers said. The Kuala Lumpur Composite Index gained 1.13 points to 935.85 on
Published 01 Aug, 2006 12:00am
Nikkei books highest close in three weeks

Nikkei books highest close in three weeks

The Nikkei average booked its highest close in three weeks on Monday, rising 0.74 percent as Canon Inc continued to gain after posting strong quarterly results. Shares of TDK Corp and other exporters were boosted after US economic data eased concerns abou
Published 01 Aug, 2006 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 69.49/69.81 (previous 69.49/69.81). Call Money Rates: 6.25-11.00 percent (previous 6.25-11.00 percent).
Published 01 Aug, 2006 12:00am
Sterling steady near seven-week highs

Sterling steady near seven-week highs

Sterling was steady against the dollar on Monday, holding close to seven-week highs reached last week ahead of UK data due later in the day which would give clues on the interest rate outlook.
Published 01 Aug, 2006 12:00am
Indian rupee at two-week high

Indian rupee at two-week high

The Indian rupee ended at a two-week high on Monday as the dollar weakened against major currencies following strong economic data in Japan and the euro zone. In early trade, the partially convertible rupee firmed past the psychologically important 46.50
Published 01 Aug, 2006 12:00am
Australian dollar supported above 76.5 cents

Australian dollar supported above 76.5 cents

The Australian dollar consolidated near a two-and-a-half month high on Monday ahead of a widely anticipated rise in the 5.75 percent cash rate that will lock in a wider rate advantage over the US dollar. The Aussie dollar steadied in a tight $0.7650-$0.76
Published 01 Aug, 2006 12:00am
Dollar slips to 2 1/2-week low

Dollar slips to 2 1/2-week low

The dollar hit a 2-1/2-week low against the yen on Monday after data showing surprisingly slow US growth in the second quarter further dampened expectations that the Federal Reserve would boost interest rates next week.
Published 01 Aug, 2006 12:00am
Swiss franc flat versus dollar

Swiss franc flat versus dollar

The Swiss franc was flat against the euro and the dollar on Monday, despite indications of strong Swiss business sentiment on Friday and data showing the US economy growing slower than expected. The franc was flat against the US currency, trading at 1.231
Published 01 Aug, 2006 12:00am
Asian currencies mostly higher by US data

Asian currencies mostly higher by US data

Asian currencies were mostly higher on Monday, boosted by data showing US economic growth slowed in the second quarter of this year and a rally in the Chinese yuan to a post-revaluation high.
Published 01 Aug, 2006 12:00am
Hong Kong dollar firms

Hong Kong dollar firms

The Hong Kong dollar edged higher on Monday, bolstered by a broad-based decline in the US dollar after Friday's data showed the US economy had slowed in the second quarter.
Published 01 Aug, 2006 12:00am
Yuan breaches 7.9700/dollar

Yuan breaches 7.9700/dollar

China's yuan breached the psychologically important level of 7.9700 level for the first time on Monday, amid signs that Beijing might allow the Chinese currency to rise faster, dealers said.
Published 01 Aug, 2006 12:00am
WTA rankings unchanged

WTA rankings unchanged

There was no movement at all in the top 20 of the WTA rankings with few players competing last week.

Published 01 Aug, 2006 12:00am
German Haas back into top 20

German Haas back into top 20

Germany's Tommy Haas, who peaked at world number two in 2002, has made it back into the top 20 of the men's ATP world rankings after his win in Los Angeles on Sunday.
Published 01 Aug, 2006 12:00am
Boucher to lead South Africa in one-day series

Boucher to lead South Africa in one-day series

South Africa's cricket selectors on Monday named wicket-keeper Mark Boucher as captain for the limited-overs tri-series against India and hosts Sri Lanka next month.
Published 01 Aug, 2006 12:00am
England drop Jones for third Test

England drop Jones for third Test

England wicket-keeper Geraint Jones was dropped Monday and replaced by longstanding rival Chris Read for the third Test against Pakistan starting at Headingley on Friday.
Published 01 Aug, 2006 12:00am
Pavin ends decade of futility with US Bank win

Pavin ends decade of futility with US Bank win

Corey Pavin ended a decade of PGA Tour futility here Sunday with a two-shot victory in the four million-dollar US Bank Championship. Pavin holed out from the fairway for an eagle at the eighth hole en route to his first victory in 10 years.
Published 01 Aug, 2006 12:00am
Murali the greatest spinner ever: Jayawardene

Murali the greatest spinner ever: Jayawardene

Sri Lanka captain Mahela Jayawardene on Monday hailed Muttiah Muralitharan as the greatest-ever spinner after another match-winning performance in the first Test against South Africa. "There is no doubt in my mind that Murali is the greatest spinner ever,
Published 01 Aug, 2006 12:00am
Muralitharan helps Sri Lanka record crashing victory

Muralitharan helps Sri Lanka record crashing victory

Sri Lanka's spin wizard Muttiah Muralitharan put on another master-class display to send South Africa crashing to an innings and 153-run defeat in the first Test here on Monday.
Published 01 Aug, 2006 12:00am
Bad losers may be Congo election spoilers

Bad losers may be Congo election spoilers

Congo's historic elections have raised hopes for peace in a nation scarred by war, but bad losers could spoil the country's bid for lasting democracy.
Published 01 Aug, 2006 12:00am
Ugandan official meets fugitive rebel chief

Ugandan official meets fugitive rebel chief

A Ugandan government official met overnight with the elusive rebel Lord's Resistance Army (LRA) leader Joseph Kony, officials said Monday, as local leaders pressed both sides to clinch a lasting peace.
Published 01 Aug, 2006 12:00am
Journalist arrested in Mumbai blast investigation

Journalist arrested in Mumbai blast investigation

Indian police have arrested a journalist who may know those behind a series of co-ordinated bombs on Mumbai's rail network earlier this month that killed 186 people, officers said on Monday.
Published 01 Aug, 2006 12:00am
South African judge postpones Zuma's graft trial

South African judge postpones Zuma's graft trial

A South African judge postponed the graft trial of former deputy president Jacob Zuma on Monday, enraging his supporters and further clouding the popular politician's presidential hopes. Zuma, 64, one of South Africa's most charismatic leaders, was sacked
Published 01 Aug, 2006 12:00am
Mexico leftists block capital in vote protest

Mexico leftists block capital in vote protest

Thousands of protesters caused commuter chaos by closing off Mexico City's business district to traffic on Monday, pressing the main leftist candidate's demand for a vote recount in a presidential election he says was stolen from him.
Published 01 Aug, 2006 12:00am
Bush sticks to call for sustained Middle East peace

Bush sticks to call for sustained Middle East peace

President George W. Bush said on Monday he would push for UN action this week on ending the fighting in southern Lebanon but again resisted pushing for an immediate cease-fire despite growing pressure after a deadly Israeli air strike.
Published 01 Aug, 2006 12:00am
Somalis rally behind Prime Minister after crucial vote

Somalis rally behind Prime Minister after crucial vote

Hundreds of Somalis rallied in support of Prime Minister Ali Mohamed Gedi on Monday after he survived a confidence vote that narrowly averted the collapse of his fragile interim government.
Published 01 Aug, 2006 12:00am
Turkey elects new military chief

Turkey elects new military chief

Turkey's president named General Yasar Buyukanit, a blunt-speaking hawk, as chief of the powerful military on Monday, increasing the chances of a stronger crackdown on Kurdish separatist rebels.
Published 01 Aug, 2006 12:00am
Pitfalls seen as UK copies US terror alert model

Pitfalls seen as UK copies US terror alert model

Britain's launch of a US-style terrorism alert system will address concerns about lack of transparency but must avoid the pitfalls of "crying wolf" or being seen as a political tool, international experience shows.
Published 01 Aug, 2006 12:00am
Nato takes over Afghan south; blast kills 8 in east

Nato takes over Afghan south; blast kills 8 in east

A bomb in a police car killed at least eight Afghans on Monday as Nato forces took control of security in southern Afghanistan to begin one of the biggest ground operations in the alliance's history. The blast occurred in the eastern city of Jalalabad, fa
Published 01 Aug, 2006 12:00am
Nigerian oil siege ends after pay-off

Nigerian oil siege ends after pay-off

Attackers have vacated an Agip oil pumping station in southern Nigeria and freed all hostages they were holding there after they were paid off by government, police said on Monday.
Published 01 Aug, 2006 12:00am
UN reveals impotence over Lebanon: Mubarak

UN reveals impotence over Lebanon: Mubarak

Egyptian President Hosni Mubarak said on Monday the UN Security Council had revealed its impotence in its response to Israel's conflict with Hezbollah, and again called for an immediate cease-fire.
Published 01 Aug, 2006 12:00am
Sterling at eight-week high against dollar

Sterling at eight-week high against dollar

Sterling rose to an eight-week peak against the dollar on Monday, tracking euro/dollar higher as markets reassessed the chances of an August rate rise from the US Federal Reserve. A recent run of strong data from the UK has also supported sterling.
Published 01 Aug, 2006 12:00am
Yen rises in London

Yen rises in London

The yen rose to its strongest levels in over two weeks against the euro and dollar on Monday, after upbeat Japanese industrial output data prompted investors to cut back their short positions in the currency.
Published 01 Aug, 2006 12:00am
Bonds: GUS credit default swaps fall

Bonds: GUS credit default swaps fall

The cost of insuring debt of Britain's GUS against default fell on Monday after the company said it planned to tender for its 350 million pounds ($652.9 million) of 5.625 percent bonds due 2013.
Published 01 Aug, 2006 12:00am
Bonds: GUS credit default swaps fall

Bonds: GUS credit default swaps fall

The cost of insuring debt of Britain's GUS against default fell on Monday after the company said it planned to tender for its 350 million pounds ($652.9 million) of 5.625 percent bonds due 2013.
Published 01 Aug, 2006 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's FTSE 100 index fell on Monday from 2-1/2 month highs struck in the previous session, with financials such as Northern Rock hit by concerns that global interest rates are heading higher.
Published 01 Aug, 2006 12:00am
Russia grain harvest lags behind year ago

Russia grain harvest lags behind year ago

Russian large and medium-sized farms had harvested 15.0 million tonnes of grain from 4.8 million hectares by July 25, compared with 17.8 million tonnes from 5.5 million hectares last year.
Published 01 Aug, 2006 12:00am
London sugar firmer

London sugar firmer

London benchmark white sugar futures settled firmer on trade buying on Monday, but traders saw risks on the downside because of large harvests and a slack cash market. Benchmark October futures finished up $3.90 at the day's high of $439.90 per tonne whil
Published 01 Aug, 2006 12:00am
Strike vote lifts copper 2.3 percent, nickel up

Strike vote lifts copper 2.3 percent, nickel up

Copper was up 2.3 percent by the close of London trade on Monday, supported by a strike vote at the world's largest copper mine in Chile, while nickel was underpinned by critically low stocks, traders said.
Published 01 Aug, 2006 12:00am
Oil rises above $75 on supply worries

Oil rises above $75 on supply worries

Oil rose to $75 a barrel on Monday after a small leak on a spur of Russia's largest oil export pipeline to Europe added to concerns about supply losses in Nigeria and violence in the Middle East.
Published 01 Aug, 2006 12:00am
Kenya publishes rules for direct coffee sales

Kenya publishes rules for direct coffee sales

Kenya has published long-delayed rules to govern the direct sales of coffee to buyers abroad, paving the way for farmers to by-pass a central auction where all Kenyan coffee has been traded since 1935.
Published 01 Aug, 2006 12:00am
Gold drifts lower in European trade

Gold drifts lower in European trade

Gold reversed track to fall in late European trade on light profit-taking from earlier gains on Monday, and dealers said the metal would be trapped in a tight range until new leads emerged. Spot gold hit a high of $638.60 an ounce before retreating to $63
Published 01 Aug, 2006 12:00am
Three bikes, cash snatched

Three bikes, cash snatched

Armed robbers snatched three motorcycles, Rs 10,000 cash and a mobile phone in three different incidents at gunpoint. They snatched a motorcycle, Rs 10,000 and a mobile phone from Nasir, a resident of Masroorpur.
Published 01 Aug, 2006 12:00am
'Punjab to have pollution-free industrial environment'

'Punjab to have pollution-free industrial environment'

Provincial Industries, Investment and Commerce Minister, Muhammad Ajmal Cheema has said that a strategy had been evolved for ensuring pollution-free environment in industrial sector of the Punjab.
Published 01 Aug, 2006 12:00am
SHOs told to curb crimes

SHOs told to curb crimes

Deputy Inspector Police (DIG) Gujranwala Range, Malik Muhammad Iqbal has directed the all SHOs to exercise their abilities and take practical steps for reducing the crime graph in Gujranwala range.
Published 01 Aug, 2006 12:00am
Leadership quality

Leadership quality

I want to convey this message to Nawaz Sharif regarding his joining hands with the People's Party and Benazir that Nawaz Sharif should leave the country alone. This country is much better without you.
Published 01 Aug, 2006 12:00am
Two holidays

Two holidays

Please refer to the letter of Muhammad Iqbal published in the Business Recorder about two holidays, which is absolutely correct. I fully agree with the contents of the letter that two holidays, which our country cannot afford, and by which poor per
Published 01 Aug, 2006 12:00am
Premiums on cars again shoot up

Premiums on cars again shoot up

This to inform you that premiums on cars have again shot up and the same old story to collect premium on cars is being started. I am unable to understand why the government has given a free hand to all these car manufacturers to collect the extra amounts
Published 01 Aug, 2006 12:00am
Israeli aggression

Israeli aggression

Saudi Arabia in a meeting with Egyptian President warned that if the peace option failed because of Israeli arrogance, there would be no option but war, which might be quite dangerous for everybody.
Published 01 Aug, 2006 12:00am
Lebanese in shock after Qana 'massacre'

Lebanese in shock after Qana 'massacre'

Lebanese were in a state of shock after what they described as "horrific" pictures of dead children being removed from under rubble in the southern Lebanese village of Qana. In a deadly Israeli raid earlier in the day at least 51 Lebanese civilians, among
Published 01 Aug, 2006 12:00am
Market boom draws Russia's treasures from the earth

Market boom draws Russia's treasures from the earth

First rock samples taken from deep underground trigger elation among anxious investors. Zinc content exceeds five percent, and points to a dollar fortune of billions. Russia's oil and gas wealth may hog the limelight these days, but for those in the know
Published 01 Aug, 2006 12:00am
Financial woes in the wake of missiles hit northern Israel

Financial woes in the wake of missiles hit northern Israel

As Hezbollah's missile bombardment on northern Israel is in its third week, local businesses and residents are left staggering under the financial cost. Since July 12 some 1,500 rockets fired by Hezbollah have hit northern Israel, striking targets previou
Published 01 Aug, 2006 12:00am
Post-disaster activism?

Post-disaster activism?

The unveiling of a Rs 3 billion package for drainage schemes in Lahore by Chief Minister Chaudhry Pervez Elahi during his visit to a special children's school at Tajpura may be seen by some as a move that dovetails with our tradition of post-disaster acti
Published 01 Aug, 2006 12:00am
Turning the screws

Turning the screws

The Monetary Policy Statement (MPS) for July-December, 2006, issued by the State Bank of Pakistan (SBP) on 29th July 2006, says in no uncertain terms that the objective of monetary policy during FY07 would be price stability and growth, "though the curren
Published 01 Aug, 2006 12:00am
'No room for corrupt in elections'

'No room for corrupt in elections'

Adviser to Punjab Chief Minister, Hafiz Iqbal Khakwani said general elections would be held in February 2008 and the Muslim League would field highly efficient and well-reputed candidates.
Published 01 Aug, 2006 12:00am
Rural roads uplift under CMAP in the offing

Rural roads uplift under CMAP in the offing

The construction and widening of rural roads under the Chief Minister's Accelerated Programme (CMAP) was in progress and widening and improvement of road from Khaira Distributory to Kahna Kacha railway crossing would be completed by the end of this year w
Published 01 Aug, 2006 12:00am
Etisalat to spend more on sponsorship

Etisalat to spend more on sponsorship

Etisalat Manager (Corporate Communications) Ahmad Bin Ali said that Etisalat's sponsorship outlays will increase in the UAE as well as in the 14 markets overseas, including Pakistan, with social responsibility overriding commercial gain.
Published 01 Aug, 2006 12:00am
Al-Shifa Trust plans eye hospital at Quetta

Al-Shifa Trust plans eye hospital at Quetta

Al-Shifa Trust Eye Hospital plans to establish its fourth hospital at a cost of Rs 250 million at Quetta. A memorandum of understanding (MoU) was signed between Balochistan Chief Secretary K. B. Rind and Al-Shifa Trust Eye Hospitals' President General Jah
Published 01 Aug, 2006 12:00am
Wapda extends relief package

Wapda extends relief package

Pakistan Water and Power Development Authority (Wapda) has extended its relief package announced for permanently disconnected consumers up to December 31, 2006.
Published 01 Aug, 2006 12:00am
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