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Oct 12, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2006-08-21
Global chip equipment sales

Global chip equipment sales

World-wide sales of chip-making equipment in June posted the highest percentage growth in 21 months, with demand expected to grow still further in the next quarter, an industry group said on August 14.
Published 21 Aug, 2006 12:00am
Global chip equipment sales

Global chip equipment sales

World-wide sales of chip-making equipment in June posted the highest percentage growth in 21 months, with demand expected to grow still further in the next quarter, an industry group said on August 14.
Published 21 Aug, 2006 12:00am
Dell founder happy with chief executive Rollins' role

Dell founder happy with chief executive Rollins' role

Dell Inc founder Michael Dell said he had no plans to replace chief executive Kevin Rollins despite a sharp decline in the company's financial performance as rivals attack Dell's hold on the low-priced computer market.
Published 21 Aug, 2006 12:00am
How to teach kids about use and misuse of the Internet

How to teach kids about use and misuse of the Internet

The Internet has revolutionised the world. It has shrunk to a dot and even in the space less than a dot occupies in this universe of infinite space. The Internet has enlarged the range of all kinds of knowledge and has given new meanings to words such as
Published 21 Aug, 2006 12:00am
SEZ first half profit rises

SEZ first half profit rises

Austrian semiconductor equipment maker SEZ posted a 41 percent rise in first-half net profit on August 17, beating analysts' forecasts, boosted by a surge in sales in the second quarter.
Published 21 Aug, 2006 12:00am
SEZ first half profit rises

SEZ first half profit rises

Austrian semiconductor equipment maker SEZ posted a 41 percent rise in first-half net profit on August 17, beating analysts' forecasts, boosted by a surge in sales in the second quarter.
Published 21 Aug, 2006 12:00am
Bally Technologies

Bally Technologies

Slot machine maker Bally Technologies Inc said on August 14 that it will restate financial results for fiscal years 2003 through 2005 after a review of "certain transactions." It said it will adjust the timings of revenue recognition, likely resulting in
Published 21 Aug, 2006 12:00am
T-Systems wins order

T-Systems wins order

T-Systems, the corporate clients arm of Deutsche Telekom, has won an order worth at least 100 million euros ($128 million) from Germany's second-biggest state health insurance fund, T-Systems said on 14 August.
Published 21 Aug, 2006 12:00am
Two former Dell executives join China's Lenovo

Two former Dell executives join China's Lenovo

Two former executives of Dell Inc, the world's top PC marker, have joined smaller rival China's Lenovo Group Ltd on 18 August, in the latest executive reshuffle in the industry.
Published 21 Aug, 2006 12:00am
Suntech Power plans $60 million Shanghai R&D plant

Suntech Power plans $60 million Shanghai R&D plant

Chinese solar cell maker Suntech Power Holdings Co Ltd plans to spend around $60 million to build a research and development plant outside Shanghai, a senior company executive said on August 18.
Published 21 Aug, 2006 12:00am
UK to get first city with high-speed WiMax coverage

UK to get first city with high-speed WiMax coverage

A British city known for its concrete cows is set to become one of the most technologically advanced in Britain after it said on August 18 that it would to be the first UK town to boast a high-speed WiMax wireless broadband network.
Published 21 Aug, 2006 12:00am
Mobile loan sharks start to bite Nordic youth

Mobile loan sharks start to bite Nordic youth

Need cash to pay your next bill? Send us a text message, we'll send you the money in just a few minutes. Such slogans are spreading in Finland and other Nordic countries, with barely a mention of the annual lending rates of up to 1,000 percent involved.
Published 21 Aug, 2006 12:00am
Top banks plan rival trading data system

Top banks plan rival trading data system

A group of 10 or more of the world's largest investment banks are trying to set up their own system for reporting share trades, allowing them to bypass the major European Stock Exchanges, people close to the matter said on August 14.
Published 21 Aug, 2006 12:00am
Moody's to roll out new loan ratings in September

Moody's to roll out new loan ratings in September

Moody's Investors Service plans to speed up its rollout of a new method for rating high-yield loans and bonds, releasing all of its new ratings for North America in late September, the agency said on August 18.
Published 21 Aug, 2006 12:00am
Moody's to roll out new loan ratings in September

Moody's to roll out new loan ratings in September

Moody's Investors Service plans to speed up its rollout of a new method for rating high-yield loans and bonds, releasing all of its new ratings for North America in late September, the agency said on August 18.
Published 21 Aug, 2006 12:00am
Several exchanges discuss offers for NYBOT: WSJ

Several exchanges discuss offers for NYBOT: WSJ

Some large US exchanges in recent weeks have talked with the New York Board of Trade, a closely held futures marketplace, about making an offer, the Wall Street Journal reported on August 17, citing unnamed sources.
Published 21 Aug, 2006 12:00am
Merrill smiles on wealth managers, engineers

Merrill smiles on wealth managers, engineers

Wealth management firms are among the largest stakes of a Merrill Lynch fund of UK small-cap stocks and are positioned to benefit as markets rise although interest rate hikes have raised risks, its manager said.
Published 21 Aug, 2006 12:00am
Merrill smiles on wealth managers, engineers

Merrill smiles on wealth managers, engineers

Wealth management firms are among the largest stakes of a Merrill Lynch fund of UK small-cap stocks and are positioned to benefit as markets rise although interest rate hikes have raised risks, its manager said.
Published 21 Aug, 2006 12:00am
Investors tell UK firms to axe big severance deals

Investors tell UK firms to axe big severance deals

A group representing shareholders who control nearly a fifth of the UK stock market said British companies should consider rewriting employment contracts that guarantee lucrative severance packages for top executives.
Published 21 Aug, 2006 12:00am
Bangladesh national airline raises fares to cut losses

Bangladesh national airline raises fares to cut losses

Cash-strapped national carrier Biman Bangladesh Airlines recently raised fares on all domestic routes to cut massive losses as fuel and maintenance costs surge, an official said. "The airfares have been raised by between five and seven percent on all our
Published 21 Aug, 2006 12:00am
Wall Street bonuses to rise 15 percent this year

Wall Street bonuses to rise 15 percent this year

Wall Street bonuses will rise 15 percent this year, with larger increases for investment bankers and equities traders as merger activity surges and stocks rise, according to a study released.
Published 21 Aug, 2006 12:00am
AirAsia in $230 million Islamic financing deal

AirAsia in $230 million Islamic financing deal

Low-cost carrier AirAsia on August 15 signed its first-ever Islamic financing agreement to fund the purchase of six A320-200 aircraft in a deal worth some 230 million dollars.
Published 21 Aug, 2006 12:00am
Nomura in push to grow retail fund sales abroad

Nomura in push to grow retail fund sales abroad

Nomura Asset Management, Japan's largest fund manager, is pushing to diversify its retail business by selling more products abroad, particularly in Asia, the head of its Hong Kong operation said.
Published 21 Aug, 2006 12:00am
Nomura in push to grow retail fund sales abroad

Nomura in push to grow retail fund sales abroad

Nomura Asset Management, Japan's largest fund manager, is pushing to diversify its retail business by selling more products abroad, particularly in Asia, the head of its Hong Kong operation said.
Published 21 Aug, 2006 12:00am
India's Reliance announces start of giant retail store roll-out

India's Reliance announces start of giant retail store roll-out

India's biggest private company Reliance Industries, said on August 18 it aims to launch its first store next month in the southern city of Hyderabad, part of a plan to build an Indian version of Wal-Mart, the world's largest retail chain.
Published 21 Aug, 2006 12:00am
UBS second quarter net profit jumps

UBS second quarter net profit jumps

UBS, the world's largest wealth manager, said second quarter net profit jumped 47 percent from one year ago to 3.147 billion Swiss francs ($2.54 billion), well ahead of analysts' forecasts.
Published 21 Aug, 2006 12:00am
UBS second quarter net profit jumps

UBS second quarter net profit jumps

UBS, the world's largest wealth manager, said second quarter net profit jumped 47 percent from one year ago to 3.147 billion Swiss francs ($2.54 billion), well ahead of analysts' forecasts.
Published 21 Aug, 2006 12:00am
'Quattrone reached deal to avoid trial'

'Quattrone reached deal to avoid trial'

Frank Quattrone, the former Silicon Valley star technology banker facing a possible third trial for obstructing justice, reached a deal with prosecutors in which he could avoid another trial and resume a career in finance, The New York Times report
Published 21 Aug, 2006 12:00am
'Current eurozone economic boom as good as it gets'

'Current eurozone economic boom as good as it gets'

The eurozone economy is booming, but the good times may prove to be short-lived, with a potent combination of factors due to bite into growth in the coming months, economists warned.
Published 21 Aug, 2006 12:00am
Asean economic ministers hold meeting amid pressure

Asean economic ministers hold meeting amid pressure

Southeast Asian economic ministers meet here this week under pressure to accelerate the creation of a single trade bloc and combat the rise of China and India which are drawing away foreign investment.
Published 21 Aug, 2006 12:00am
Bolivia's nationalisation of gas, oil sectors bogged down

Bolivia's nationalisation of gas, oil sectors bogged down

More than midway through Bolivia's schedule to nationalise its energy sector, the government of leftist President Evo Morales is mired in competing foreign and domestic interests and budget problems.
Published 21 Aug, 2006 12:00am
Blair ally calls for scrapping inheritance tax

Blair ally calls for scrapping inheritance tax

Stephen Byers, a former British cabinet minister who remains close to Prime Minister Tony Blair, appealed on Sunday for the inheritance tax to be scrapped.
Published 21 Aug, 2006 12:00am
Chavez wants to trade oil for China's backing at UN

Chavez wants to trade oil for China's backing at UN

During his upcoming visit to China, President Hugo Chavez will offer to supply up to 20 percent of the crude oil China needs if Beijing backs Venezuela's bid to join the UN Security Council, analysts say.
Published 21 Aug, 2006 12:00am
'Too early to consider renewing US trade law'

'Too early to consider renewing US trade law'

The chief US trade negotiator said on Friday it was premature to renew trade legislation that would give countries more time to reach a new world trade deal after the talks collapsed last month.
Published 21 Aug, 2006 12:00am
Bangladesh interbank rates

Bangladesh interbank rates

Bangladesh Interbank buy/sell rates for the taka against the dollar on Sunday. 69.49/69.7150 (previous 69.49/69.73) Call Money Rates: 6.25-10.50 percent (previous 6.25-10.50 percent).
Published 21 Aug, 2006 12:00am
Japanese government bond prices drop

Japanese government bond prices drop

Japanese government bond prices fell on Friday, tracking US debt prices, which eased after a key US manufacturing survey showed a surprisingly strong reading.
Published 21 Aug, 2006 12:00am
Japanese government bond prices drop

Japanese government bond prices drop

Japanese government bond prices fell on Friday, tracking US debt prices, which eased after a key US manufacturing survey showed a surprisingly strong reading.
Published 21 Aug, 2006 12:00am
Philippines shares seen trading sideways

Philippines shares seen trading sideways

Philippines share prices are expected to trade sideways in the shortened trading week ahead as investors await fresh leads, dealers said on Friday. "The market will likely move sideways with thin volumes. Investors may move out of the blue chips and focus
Published 21 Aug, 2006 12:00am
Thai shares may decline as oil prices rebound

Thai shares may decline as oil prices rebound

Thai share prices are likely to fall next week as oil prices rebound after falling sharply this week and uncertainties over the new election date persist, dealers said.
Published 21 Aug, 2006 12:00am
UK equities may seek to build on recent gains

UK equities may seek to build on recent gains

Britain's stock market will seek to build on recent gains next week when a batch of companies issue their latest earnings numbers, alongside an update on the country's economic growth. On Friday, London's FTSE 100 index of leading shares ended at 5,903.40
Published 21 Aug, 2006 12:00am
Wall Street's major indexes close higher

Wall Street's major indexes close higher

Wall Street's major indexes closed higher on the week on Friday, as investors downgraded the likelihood of the Federal Reserve renewing its rate hiking campaign.
Published 21 Aug, 2006 12:00am
Singapore shares likely to gain

Singapore shares likely to gain

Singapore shares are expected to gain next week on expectations the peace dividend from a UN-brokered cease-fire in Lebanon would limit further oil price increases, dealers said.
Published 21 Aug, 2006 12:00am
Hong Kong shares likely to trade lower

Hong Kong shares likely to trade lower

Hong Kong share prices are likely to trade lower on consolidation and caution ahead of more corporate earnings next week, dealers said Friday. However, they said the market will be underpinned by easing interest rate worries as investors expect that rate
Published 21 Aug, 2006 12:00am
Australian shares soar

Australian shares soar

Australian share prices are expected to continue to rise next week amid renewed confidence among investors, dealers said Friday. For the week ending August 18 the SP/ASX200 finished at 5052.5, up 103.3 points or 2.1 percent on the previous week's 4,956.1.
Published 21 Aug, 2006 12:00am
Taiwan shares seen shadowed by political uncertainty

Taiwan shares seen shadowed by political uncertainty

Taiwan share prices are next week expected to feel the impact of mounting pressure for President Chen Shui-bian to step down over scandals involving his family, dealers said Friday.
Published 21 Aug, 2006 12:00am
Malaysian shares likely to consolidate

Malaysian shares likely to consolidate

Malaysian share prices are expected to consolidate next week ahead of the 2007 budget announcement in September, analysts said Friday. Analysts said although the market went through a "correctional phase" over the past week, a lack of fresh leads would co
Published 21 Aug, 2006 12:00am
Tokyo shares seen gaining further

Tokyo shares seen gaining further

Japanese share prices are expected to post fresh gains next week as foreign investors remain net buyers buoyed by optimism over the world's second largest economy, analysts said Friday.
Published 21 Aug, 2006 12:00am
Ethiopia flood misery mounts as rains threaten dams

Ethiopia flood misery mounts as rains threaten dams

Ethiopia braced Sunday for more damage from deadly nation-wide flash floods as the government warned unusually heavy seasonal rains could force the release of water from dangerously swollen dams.
Published 21 Aug, 2006 12:00am
Iran urges judiciary to act against media

Iran urges judiciary to act against media

The government of hard-line Iranian President Mahmoud Ahmadinejad has called on judiciary to clamp down on local media which it accused of "spreading lies", press reports said Sunday.
Published 21 Aug, 2006 12:00am
Sri Lanka moves to lift siege on Jaffna amid fighting

Sri Lanka moves to lift siege on Jaffna amid fighting

Sri Lankan troops backed by artillery and fighter jets are resisting a Tamil Tiger rebel advance on the Jaffna peninsula amid moves to lift a nine-day siege of the embattled region, military officials said Sunday.
Published 21 Aug, 2006 12:00am
After double grief, Qana mourners can bury dead

After double grief, Qana mourners can bury dead

Tearful families gathered Friday in the southern Lebanese village of Qana to bury the 29 people, including 16 children, killed in an Israeli bombardment on a shelter last month.
Published 21 Aug, 2006 12:00am
Iran defiant as nuclear deadline nears

Iran defiant as nuclear deadline nears

Iran insisted Sunday that a nuclear freeze was not on the agenda and showed off its latest weaponry, two days before it is to respond to an international offer aimed at ending the long-running crisis.
Published 21 Aug, 2006 12:00am
Cotton ginning institute: belated yet a good step

Cotton ginning institute: belated yet a good step

The government has announced setting up of a ginning institute in the country at Multan which has been named as the Pakistan Cotton Ginning Institute. Since Pakistan earns one of the top four positions among cotton-producing countries, this decision shoul
Published 21 Aug, 2006 12:00am
Cement import and the subsidy

Cement import and the subsidy

The decision for the import of cement was prompted by an increase in cement prices at some places in early April, 2006. This increase in prices had two reasons. Because of the year end, the Government departments started buying cement in large quantities
Published 21 Aug, 2006 12:00am
Merkava 'hunters' relax after uneasy cease-fire

Merkava 'hunters' relax after uneasy cease-fire

Two Hezbollah fighters relax under a tree in aitroun, a southern Lebanese village, that overlooks several Israeli settlements across the border. It's the third day of an uneasy cease-fire between Israel, Lebanon and the Hezbollah militia that occupies sou
Published 21 Aug, 2006 12:00am
Why Israel failed in Lebanon?

Why Israel failed in Lebanon?

With the cease-fire in Lebanon, the second Hezbollah-Israeli War is temporarily in remission. So far, Israel has been beaten. The magnitude of the defeat is considerable. Israel appears to have lost at every level-strategic, operational and tactical. Noth
Published 21 Aug, 2006 12:00am
The confusion regarding reduction in poverty level

The confusion regarding reduction in poverty level

I have talked to a cross section of the people from Karachi to Peshawar on their perception about reduction in poverty; they feel that the government figures were too good to be true.
Published 21 Aug, 2006 12:00am
Islamic financial system

Islamic financial system

'Pillars of rating of Islamic financial institutions' by Mohammad Ashraf. This article appeared in the paper on July 30, 2006. The learned scholar has, as always, played the old tune. This has forced me to pen down a few comments on the subject.
Published 21 Aug, 2006 12:00am
Quaid's last days and journey

Quaid's last days and journey

Being a great admirer and follower of the Father of the Nation, I get fascinated by the history of Pakistan, learning about people Quaid used to meet and his innumerable qualities and conduct in the overall sphere of life.
Published 21 Aug, 2006 12:00am
Venezuelan democracy looks alive, despite doubts

Venezuelan democracy looks alive, despite doubts

Listen to the White House and one might think President Hugo Chavez has turned oil-rich Venezuela into a totalitarian state like Cuba, lacking a free press, freedom of speech and multi-party elections.
Published 21 Aug, 2006 12:00am
Exploiting and ignoring merit

Exploiting and ignoring merit

The major difference between the public and private sector is that the private entrepreneurs recognise merit as the touchstone for success, but in the public sector (as in bureaucracy) merit can often be a disqualifier.
Published 21 Aug, 2006 12:00am
Ethanol blended petrol - a dream come true

Ethanol blended petrol - a dream come true

It, indeed, is gratifying to learn from a Recorder Report of the prospect of sale of ethanol blended petrol in the twin cities of Islamabad and Rawalpindi. For it will mean an end to a long drawn controversy over the advisability of blending ethanol with
Published 21 Aug, 2006 12:00am
These delays are inexcusable

These delays are inexcusable

There are certain things in the life of a nation, which are extremely harmful for its development but unfortunately, become a part of its culture. Delays in the implementation of projects in Pakistan is one of those routine events that are very inimical b
Published 21 Aug, 2006 12:00am
Pak-US endowment fund created

Pak-US endowment fund created

Pak-American Rs 720 million endowment fund has been created at University of Agriculture, Faisalabad (UAF) with the active financial support of USA. This fund would be utilised for academic capacity building, technology transfer and product commercialisat
Published 21 Aug, 2006 12:00am
'Government negligence devastating NWFP tourism industry'

'Government negligence devastating NWFP tourism industry'

Dilapidated roads and negligence on the behalf of federal and provincial governments appalling to the tourism industry of NWFP, especially Swat, has devastated the tourism to irreparable extent.
Published 21 Aug, 2006 12:00am
Train service restored: Rashid

Train service restored: Rashid

Federal Minister for Railways Sheikh Rashid Ahmed has said that train service to and from Karachi has been restored after preparing the passage to substitute the damaged bridge between Ran Pathani and Dhabeji areas. He was addressing a press conference at
Published 21 Aug, 2006 12:00am
Sialkot district government to introduce green rickshaw scheme

Sialkot district government to introduce green rickshaw scheme

Sialkot district government has formulated a strategy for introducing "green rickshaw" scheme in Sialkot, Daska, Pasrur and Sambrial tehsils of the district for reducing the pollution load, revealed Sialkot District Nazim Muhammad Akmal Cheema.
Published 21 Aug, 2006 12:00am
Special attention paid to nation's progress: minister

Special attention paid to nation's progress: minister

Federal Minister for Political Affairs and President of Pakistan Muslim League (PML) NWFP, Engr. Amir Muqam has said that present government is paying special attention on progress of the nation by laying a web of developmental schemes in every nook and c
Published 21 Aug, 2006 12:00am
National Assembly resumes session today

National Assembly resumes session today

The National Assembly will resume sitting here on Monday in the Parliament House building, Islamabad after a two-day break. The government is likely to introduce bill regarding women protection 2006 in the house when it meets as was hinted by the Minister
Published 21 Aug, 2006 12:00am
Hunger strike in Dera Bugti against Sardars' repression

Hunger strike in Dera Bugti against Sardars' repression

Several families belonging to Dera Bugti urged the President and the Prime Minister on Saturday to provide them protection against, the repression being committed by tribal Sardars in their area.
Published 21 Aug, 2006 12:00am
Pakistan and China to combat cross border crimes

Pakistan and China to combat cross border crimes

Pakistan and China have established a strong working mechanism of bilateral co-operation to combat drug trafficking and other cross-border crimes. According to China National Narcotics Control Commission, the two countrie maintained close contacts at offi
Published 21 Aug, 2006 12:00am
PPP to set up election management cell

PPP to set up election management cell

The Pakistan People's Party (PPP) has decided to set up an election management cell to block what it called the government's open intention to rig the 2007 general elections. The party took the decision in a meeting here on Sunday.
Published 21 Aug, 2006 12:00am
Work on Sialkot-Lahore motorway soon

Work on Sialkot-Lahore motorway soon

The development work on mega project of Sialkot-Lahore motorway costing Rs 20 billion would be initiated shortly. Official sources told Business Recorder here on Sunday that necessary arrangements for undertaking the development work on the project
Published 21 Aug, 2006 12:00am
'Government striving for economic uplift of masses'

'Government striving for economic uplift of masses'

The government under the leadership of President Pervez Musharraf, and Prime Minister Shaukat Aziz is striving for the solution of basic problems of the masses. For the first time in the history of Pakistan a big chunk of money Rs 435 million under develo
Published 21 Aug, 2006 12:00am
Concern voiced over declining power production

Concern voiced over declining power production

Speakers at a meeting of Shura Hamdard, Karachi chapter urged the government to use coal to generate electricity and stressed upon the people for the conservation of energy by keeping extra bulbs, tube lights and airconditioners off particularly at the pe
Published 21 Aug, 2006 12:00am
Pakistan Navy holds seminar on warfare

Pakistan Navy holds seminar on warfare

Pakistan Navy's Gunnery-Antisubmarine Warfare seminar 2006 was held at PNS Jauhar Auditorium on Sunday. Chief of the Naval Staff Admiral Muhammad Afzal Tahir was the chief guest at the closing session. The seminar was organised under the auspices of Direc
Published 21 Aug, 2006 12:00am
Mehmood Ali visits Mazar-e-Quaid

Mehmood Ali visits Mazar-e-Quaid

Federal Minister (R&S) Cabinet Division, Mehmood Ali here on Sunday visited the Quaid's mausoleum, laid a floral wreath and offered Fateha. In the visitors book, he wrote: "No stone would be left unturned to make Pakistan a great Muslim state of the world
Published 21 Aug, 2006 12:00am
Gorakh Hill project still in limbo

Gorakh Hill project still in limbo

Despite passage of eight years and expenditure of more than Rs 200 million, the Gorakh Hill project is still in limbo due to lack of political will of rulers and apathy of bureaucracy bosses.
Published 21 Aug, 2006 12:00am
Rains restrict business on commodity markets

Rains restrict business on commodity markets

Rains have affected trading in the wholesale commodities market where supplies have been hit from Punjab markets and prices already on the higher side were being raised continuously during the week ended on August 19, 2006.
Published 21 Aug, 2006 12:00am
KW&SB NOC made mandatory to sell property

KW&SB NOC made mandatory to sell property

The sale of property without dues clearance certificate from the Karachi Water and Sewerage Board (KW&SB) would be banned, a high-level meeting decided here on Sunday. The meeting of Town Nazims and officials of CDGK and KWSB was held with City Nazim Syed
Published 21 Aug, 2006 12:00am
Arbab approves constitution of SIIDB

Arbab approves constitution of SIIDB

Sindh Chief Minister Dr Arbab Ghulam Rahim approved constitution of eight-member Sindh Industrial Infrastructure Development Board (SIIDB). He observed that the formation of the Board would help improve the existing structure of different industrial estat
Published 21 Aug, 2006 12:00am
Heavy rains, floods posing threat to cotton production

Heavy rains, floods posing threat to cotton production

Presently, Pakistan has been under heavy pressure of monsoon for the last two weeks. Rainfall has caused more damage to cotton crop in lower Sindh as compared to upper Sindh. Punjab province has also received rains intermittently but cotton crop is still
Published 21 Aug, 2006 12:00am
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