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Print - 2006-10-10
World condemns North Korea's nuclear test

World condemns North Korea's nuclear test

The United States and China led global condemnation of North Korea Monday after the reclusive state announced it had carried out a nuclear test, slamming the move as a provocation and demanding a tough UN response.
Published 10 Oct, 2006 12:00am
Britain's identity cards plan to cost billions of pounds

Britain's identity cards plan to cost billions of pounds

Britain's plan to introduce national identity cards in the world's most ambitious biometric scheme of its kind will cost 5.4 billion pounds ($10.08 billion) over the next decade, the government announced on Monday.
Published 10 Oct, 2006 12:00am
Military will counter any Tigers attack: president

Military will counter any Tigers attack: president

Sri Lanka's military will continue to battle the island's Tamil Tigers if provoked, President Mahinda Rajapakse said on Monday, amid fears sporadic fighting between the foes could derail peace talks due later this month.
Published 10 Oct, 2006 12:00am
Denmark warns against travel, Muslims decry cartoons

Denmark warns against travel, Muslims decry cartoons

Denmark acted on Monday to calm Muslim indignation at a new series of blasphemous cartoons and advised its citizens against travelling to the Middle East as Islamic leaders condemned the drawings.
Published 10 Oct, 2006 12:00am
Thai Prime Minister forms investor-friendly cabinet

Thai Prime Minister forms investor-friendly cabinet

Thailand's interim, army-appointed prime minister unveiled his new cabinet on Monday, with a respected central bank governor as finance minister in an apparent bid to reassure investors after last month's coup.
Published 10 Oct, 2006 12:00am
American Phelps wins economics Nobel for inflation work

American Phelps wins economics Nobel for inflation work

American Edmund Phelps took the 2006 economics Nobel on Monday for work on the relationship between unemployment and inflation. The Royal Swedish Academy of Sciences said the Columbia University professor won for challenging the assumption in the 1960s th
Published 10 Oct, 2006 12:00am
Somali group declare holy war on Ethiopia

Somali group declare holy war on Ethiopia

Somalia's powerful religious group on Monday declared holy war against Horn of Africa rival Ethiopia, which they accused of invading Somalia to help the government briefly seize a town controlled by pro fighters.
Published 10 Oct, 2006 12:00am
Senior Abbas aide warns Hamas of early elections

Senior Abbas aide warns Hamas of early elections

A senior aide to Palestinian President Mahmoud Abbas urged Hamas on Monday to agree to fresh proposals to break a deadlock over unity government talks or face early elections.
Published 10 Oct, 2006 12:00am
US wants UN to allow interdiction of North Korea cargo

US wants UN to allow interdiction of North Korea cargo

The United States wants the UN Security Council to authorise international inspections of cargo going in and out of North Korea to check for weapons of mass destruction or related materials, diplomats said on Monday.
Published 10 Oct, 2006 12:00am
Qatar mediates to end Palestinian standoff

Qatar mediates to end Palestinian standoff

Qatar put forward proposals to Hamas leader Khaled Meshaal on Monday designed to end a violent standoff preventing the formation of a new Palestinian government.
Published 10 Oct, 2006 12:00am
Two Palestinians killed

Two Palestinians killed

Israeli artillery killed a Palestinian civilian in Gaza and troops shot dead a Palestinian who drew a knife at a checkpoint in the occupied West Bank on Monday, the army and witnesses said. The Israeli army said it attacked a person around the northern Ga
Published 10 Oct, 2006 12:00am
Sterling hits one-week low against dollar

Sterling hits one-week low against dollar

Sterling hit a one-week low against the dollar and slipped versus the euro on Monday after data showed a surprise fall in UK September output prices. Against a forecast for a rise, output prices unexpectedly fell 0.3 percent from a month earlier.
Published 10 Oct, 2006 12:00am
Yen hits eight-month trough against dollar in London

Yen hits eight-month trough against dollar in London

North Korea's announcement that it had successfully conducted an underground nuclear test kept the yen on the back foot on Monday, even after it hit an eight-month low against the dollar.
Published 10 Oct, 2006 12:00am
Bonds: Scania CDS edge down

Bonds: Scania CDS edge down

The cost of insuring the debt of Swedish truckmaker Scania fell on Monday, while a US holiday tempered trading in the European credit market overall.
Published 10 Oct, 2006 12:00am
Bonds: Scania CDS edge down

Bonds: Scania CDS edge down

The cost of insuring the debt of Swedish truckmaker Scania fell on Monday, while a US holiday tempered trading in the European credit market overall.
Published 10 Oct, 2006 12:00am
Indian shares flat

Indian shares flat

Indian shares ended flat on Monday after a day of choppy trading and nervousness over North Korea's nuclear weapons test, dealers said. The markets opened weak and were weighed by concerns that foreign fund flows to the region could be impacted, they said
Published 10 Oct, 2006 12:00am
Thai shares plunge

Thai shares plunge

Thai share prices closed 0.34 percent lower on Monday after North Korea conducted its first-ever nuclear test, dealers said. They said Pyongyang's nuclear test spooked investors across the region and the Thai market was also under pressure due to weaker-t
Published 10 Oct, 2006 12:00am
UK's top share index rises

UK's top share index rises

Britain's FTSE 100 index rose on Monday, outperforming other European indexes, as investors sought a safe haven in mining stocks after North Korea's nuclear test and shares in oil producers rose on supply worries.
Published 10 Oct, 2006 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures ended mixed Monday in activity featuring small speculators with most players on the sidelines waiting for the release of a key government crop report later this week, brokers said.
Published 10 Oct, 2006 12:00am
London sugar rises

London sugar rises

London sugar futures closed sharply up and near a 2-1/2 week high on Monday, boosted by trade buying as the market showed signs of a recovery from a downturn that began in early July, traders said.
Published 10 Oct, 2006 12:00am
Copper, nickel down

Copper, nickel down

Nickel eased at the close after jumping to a new record peak in early trade and zinc touched a five-month high on Monday, with the markets well supported.
Published 10 Oct, 2006 12:00am
Oil rises as Opec nears deal

Oil rises as Opec nears deal

Oil rose on Monday as Opec moved closer to a deal to cut output to help support prices and after North Korea said it had conducted its first nuclear test. US crude settled up 20 cents at $59.96 a barrel, well off intraday highs of $61.30 on late profit-ta
Published 10 Oct, 2006 12:00am
European gold slips from highs

European gold slips from highs

Gold eased off an earlier high on Monday afternoon, as safe-haven buying linked to an announcement from North Korea that it had conducted its first nuclear test, dried up. However, higher oil prices underpinned the market and some analysts said gold had p
Published 10 Oct, 2006 12:00am
PPP protest camps uprooted

PPP protest camps uprooted

Pakistan People's Party (human rights wing), Punjab, president Salim-ur-Rehman has alleged that Muzaffargarh police has uprooted its protest camps in Muzaffargarh and Kot Adu, which were set up to protest against the victimisation of District Nazim Abdul
Published 10 Oct, 2006 12:00am
The crescent

The crescent

I do not understand what purpose waning crescent moon serves on advertisements in print and electronic media. If the advertisers wish to highlight the advent of the holy month of Ramazan, or later, arrival of Eid-ul-Fitr, then they are wrong.
Published 10 Oct, 2006 12:00am
Sale of islands

Sale of islands

This is with reference to the news published regarding the sale of two islands of Karachi to Gulf-based construction group, Emaar properties, without the approval of Sindh Government.
Published 10 Oct, 2006 12:00am
Mutilated Urdu on TV

Mutilated Urdu on TV

Urdu is our national language but we are distarting it publicly through our media, whether electronic or print. They are responsible for spreading wrong pronunciations and spellings of different words.
Published 10 Oct, 2006 12:00am
Zakat fund

Zakat fund

Every year the poor are distributed atta during the month of Ramazan which was of some assistance to them. This has been stopped this year on the plea that the money has been diverted to earthquake victims.
Published 10 Oct, 2006 12:00am
Desperate Somalis swarm Kenyan border

Desperate Somalis swarm Kenyan border

Mohammed Hussein winces in pain as he limps through the dusty gravel of this desolate Kenyan border town, an arduous 20-day trek from the home he has fled in neighbouring Somalia. The septuagenarian patriarch of a family of seven massages the stump of the
Published 10 Oct, 2006 12:00am
Financial Reform: what shakes it? what shapes it?-II

Financial Reform: what shakes it? what shapes it?-II

Response to Shocks: Shocks are one-time events that trigger an almost immediate realignment of decision-making forces - for example, a new government coming to power, changes in the global economy, and conditions imposed by international financial
Published 10 Oct, 2006 12:00am
Crocker's talk

Crocker's talk

Talking to journalists in Islamabad last week, US Ambassador Ryan C Crocker touched on a number of on-going bilateral issues, including the pending trade and investment treaty and the establishing of economic reconstruction zones in FATA.
Published 10 Oct, 2006 12:00am
Impoverishing the depositors

Impoverishing the depositors

Financial institutions of the country have never had it so good. Their profits are at record levels due to high banking spread while the depositors are getting a raw deal, exemplified by a very low rate of return on their deposits.
Published 10 Oct, 2006 12:00am
Speakers call to establish independent election commission

Speakers call to establish independent election commission

Speakers at a one-day workshop organised by Pakistan Institute of Legislative Development and Transparency (Pildat) have demanded of the government to establish an independent election commission to hold free and fair general elections in the country.
Published 10 Oct, 2006 12:00am
Net hydel profit NWFP government welcomes decision of tribunal

Net hydel profit NWFP government welcomes decision of tribunal

Provincial Senior Minister Sirajul Haq has said that stand of the provincial government has been accepted by the arbitration tribunal to uncap the capped figure of Rs 6 billion being paid to the province since 1991 under the net profit hydel profit head.
Published 10 Oct, 2006 12:00am
Hearing put off

Hearing put off

The Lahore High Court (LHC) has adjourned till October 10, the proceedings in a petition filed by a Scottish woman for custody of her daughter Iram. The court had directed the father of Iram to surrender her passport before the court and accordingly he su
Published 10 Oct, 2006 12:00am
Sasta ration scheme to continue

Sasta ration scheme to continue

About one million families in the Punjab province have so far been benefited from the 'Sasta Ration' Scheme of the government, which will continue the year round. Under the scheme, one each packet, comprising basic food items like flour, sugar, pulses etc
Published 10 Oct, 2006 12:00am
Booking for upcountry rises

Booking for upcountry rises

The booking on road transport services for upcountry areas has increased manifold over the past two days and on Monday the operators were talking of running extra services for the upcountry, specially for towns in Azad Kashmir and the NWFP.
Published 10 Oct, 2006 12:00am
Transfers and postings of judges

Transfers and postings of judges

The Chief Justice Sindh High Court has ordered the following transfer/postings. According to details Illumdin has been transferred from Karachi (West) to Rohri against the post lying vacant, Iqbal Hussain Metlo from Rato Dero to Larkana against the post l
Published 10 Oct, 2006 12:00am
LPG distributors threaten strike

LPG distributors threaten strike

Muhammad Irfan Khokhar, Chairman, LPG Distributors Association Pakistan, has warned the government that LPG distributors will launch a countrywide strike in the month of November if their demands are no met.
Published 10 Oct, 2006 12:00am
Provincial autonomy must for progress, says Ghinva

Provincial autonomy must for progress, says Ghinva

Ghinva Bhutto, chairperson, Pakistan Peoples Party (Shaheed Bhutto) has said the provincial autonomy is a must to help improve the prevailing situation being faced by the country due to continuous violation of the constitutional provisions by the rulers.
Published 10 Oct, 2006 12:00am
4.15kg heroin seized

4.15kg heroin seized

The Customs Preventive Collectorate has seized 4.15 kilograms of heroin and arrested three people in different cases from Jinnah International Airport.
Published 10 Oct, 2006 12:00am
Bank Islami offers interest-free system

Bank Islami offers interest-free system

Bank Islami is determined to provide interest-free system to the people enabling them to carry out their financial transactions in accordance with the Islamic laws, President and Chief Executive Officer Hassan Bilgrami said on Monday.
Published 10 Oct, 2006 12:00am
Work on Rs 2 billion judicial complex to start after Eid

Work on Rs 2 billion judicial complex to start after Eid

Work on the Rs two billion Judicial Complex to be built on Mutti Tul road would start after Eid-ul-Fitr, District Bar Association (DBA) President Syed Athar Bukhari said on Monday. Talking to newsmen, he said the complex project to be spread on over a 947
Published 10 Oct, 2006 12:00am
Tenders to sell MTBs invited

Tenders to sell MTBs invited

The State Bank of Pakistan (SBP) will invite tenders (separately) for the sale of Rs 15,000 million three-month, six-month and 12-month Government Market Treasury Bills from October 10 to 11, 2006 through primary dealers.
Published 10 Oct, 2006 12:00am
Tenders to sell MTBs invited

Tenders to sell MTBs invited

The State Bank of Pakistan (SBP) will invite tenders (separately) for the sale of Rs 15,000 million three-month, six-month and 12-month Government Market Treasury Bills from October 10 to 11, 2006 through primary dealers.
Published 10 Oct, 2006 12:00am
Gwadar port fully complied with ISPS code

Gwadar port fully complied with ISPS code

The Gwadar Port Authority (GPA) has fully complied with the requirements of International Ship and Port Facility Security (ISPS) code. According to a statement issued here on Monday, the Port Facility Security Plan of GPA were scrutinised and approved by
Published 10 Oct, 2006 12:00am
Disbursement of loans for Rabi crop

Disbursement of loans for Rabi crop

The Punjab government, collaboration with the Zarai Taraqiati Bank (ZTBL), has started one window operation to disburse agriculture loans to small farmers of the province for the current Rabi crop.
Published 10 Oct, 2006 12:00am
Qadirpur gas field bidding

Qadirpur gas field bidding

Bidding for 100 million cubic feet (mmcf) of gas from Qadirpur field for fertiliser manufacturing use will be held on October 30. 'Four parties-Oracsom, APIC, Engro and FFC are taking part in the auction,' Federal Secretary Industries, Production and Spec
Published 10 Oct, 2006 12:00am
Transfers and postings

Transfers and postings

The Chief Justice of the Lahore High Court (LHC) made transfers and postings among three senior civil judges. According to a notification, senior civil judge Muhammad Jahangir Mir has been transferred from Khushab to Bahawalnagar, Muhammad Riaz Chopra fro
Published 10 Oct, 2006 12:00am
Transfers and postings in CBR

Transfers and postings in CBR

The Central Board of Revenue (CBR) has transferred and posted eight officials of the customs and excise group with immediate effect.
Published 10 Oct, 2006 12:00am
USC to open 304 more stores this year

USC to open 304 more stores this year

The Utility Stores Corporation (USC) is going to open 304 more utility stores to provide quality and cheap edibles to the people of the country. These new stores would be opened by end of the current year.
Published 10 Oct, 2006 12:00am
UVAS seminar

UVAS seminar

The University of Veterinary and Animal Sciences (UVAS) Lahore arranged an orientation seminar for newly admitted students of DVM (Doctor of Veterinary Medicine) and Pharm-D (Doctor of Pharmacy) first semester session 2006-07.
Published 10 Oct, 2006 12:00am
CVAS Jhang principal appointed

CVAS Jhang principal appointed

The University of Veterinary and Animal Sciences Lahore has appointed Professor Dr Ashiq Hussain Cheema as principal of the College of Veterinary and Animal Sciences Jhang. Dr Ashiq has taken over his duties on Monday.
Published 10 Oct, 2006 12:00am
Agro-based subjects to be introduced at VTIs

Agro-based subjects to be introduced at VTIs

The Punjab Vocational Training Council (PVTC), engaged in a unique poverty alleviation programme, has come up with innovative ideas to spread its wings to five brand new agro-based subjects at its network of the vocational training institutes (VTIs).
Published 10 Oct, 2006 12:00am
'Pak-Bangladesh FTA to be signed soon'

'Pak-Bangladesh FTA to be signed soon'

The outgoing Bangladesh Deputy High Commissioner, Muhammad Abdul Hanan, gave a clear call for more regional trade and hoped that Pak-BD FTA would be inked soon.
Published 10 Oct, 2006 12:00am
The Weather

The Weather

The weather report on Monday (October 09, 2006) and the forecast for Tuesday (October 10, 2006).
Published 10 Oct, 2006 12:00am
Sports items' sales declined by 60 percent

Sports items' sales declined by 60 percent

Sports goods market is experiencing a huge slump in its overall sales--by 50 percent to 60 percent--during the holy month of Ramazan as compared to past years, it is learnt. However, there has been a significant growth in the sale of indoor sports items,
Published 10 Oct, 2006 12:00am
New York cotton

New York cotton

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

Published 10 Oct, 2006 12:00am
Next KCCI expo from June 1

Next KCCI expo from June 1

The Karachi Chamber of Commerce and Industry (KCCI) has made plans to hold the next exhibition on June 1 to 3, 2007 at the Expo Centre--a little earlier than this year.
Published 10 Oct, 2006 12:00am
New York cotton

New York cotton

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

Published 10 Oct, 2006 12:00am
'Efforts on to pass economic benefits to masses'

'Efforts on to pass economic benefits to masses'

Pakistan has attained economic stability due to consistency of its economic policies and efforts are being made to pass on the fruits of economic stability to the masses, said Sardar Muhammad Yaqub, Deputy Speaker of National Assembly here on Monday.
Published 10 Oct, 2006 12:00am
Key stock and currency market movements

Key stock and currency market movements

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 Oct, 2006 12:00am
Cotton fibre testing laboratories to be set up

Cotton fibre testing laboratories to be set up

The Ministry of Textile Industry has decided to establish a network of Cotton Fibre Testing Laboratories throughout the cotton belt of the country. The Director of Pakistan Cotton Standards Institute (PCSI) informed this here on Monday.
Published 10 Oct, 2006 12:00am
10 hurt as bus falls from Jinnah Bridge

10 hurt as bus falls from Jinnah Bridge

As many as 10 people were injured in a road mishap, when a bus carrying the labourers to Port Qasim fell from Jinnah Bridge here on Monday. A contract carrier, EA-189, fell down from Jinnah Bridge by breaking it protective barriers owing to over speeding.
Published 10 Oct, 2006 12:00am
Telenor aid for quake-hit children

Telenor aid for quake-hit children

Telenor Pakistan arranged an Iftar dinner for over 380 children at SOS children's village and other SOS facilities in Rawalpindi, where visiting President and CEO Telenor Group, Jon Fredrik Baksaas handed over a cheque of Rs 3.2 million to SOS President,
Published 10 Oct, 2006 12:00am
Mild quake recorded in Balochistan

Mild quake recorded in Balochistan

An earthquake of mild intensity measuring 4.6 was recorded in Balochistan by the Seismological Network of Pakistan Meteorological Department on October 9. According to the preliminary analysis of Met Office, the earthquake originated at 10:13 PST and its
Published 10 Oct, 2006 12:00am
SROs issued for R&D support to associations

SROs issued for R&D support to associations

The Ministry of Textile Industry has issued two separate SROs providing Research & Development (R&D) support to eight associations. Since the units have started filing their claims, Ministry of Textile Industry (MINTEX) expects that the Associations will
Published 10 Oct, 2006 12:00am
Cotton Spot Rates

Cotton Spot Rates

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

Published 10 Oct, 2006 12:00am
Prime Minister's intervention sought to overcome power crisis

Prime Minister's intervention sought to overcome power crisis

Federal "B". Area Association of Trade and Industry has demanded Prime Minister's intervention in overcoming power crisis. Association Chairman Masroor Ahmed Alvi said the business community of Karachi was disturbed about long hours of suspension of power
Published 10 Oct, 2006 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (October 09, 2006) and for Tuesday (October 10, 2006).
Published 10 Oct, 2006 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday October 09, 2006

Published 10 Oct, 2006 12:00am
'Government support vital to develop shrimp farming'

'Government support vital to develop shrimp farming'

A PCSIR (Pakistan Council of Scientific and Industrial Research) scientist, Dr Razia Sultana, has said that shrimp farming could not be developed due to lack of basic infrastructure facilities and government and institutional support to prospective farmer
Published 10 Oct, 2006 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday October 09, 2006

Published 10 Oct, 2006 12:00am
Businessmen urged to explore Siberian markets

Businessmen urged to explore Siberian markets

The neglected Siberian markets have tremendous potential for Pakistani products. Pakistani entrepreneurs should explore this neglected region and penetrate in the area, which is looking for good quality products.
Published 10 Oct, 2006 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday October 09, 2006

Published 10 Oct, 2006 12:00am
Police directed to protect lives, property of people

Police directed to protect lives, property of people

The Advisor to CM for Home Affairs Waseem Akhtar has directed the police officers to be honest, hard worker and to protect the lives and property of the people so that their credibility among the masses could be restored.
Published 10 Oct, 2006 12:00am
Advice to complete canola sowing by October 31

Advice to complete canola sowing by October 31

Regional Manager of Pakistan Oilseed Development Board (PODB) Liaqat Ali has urged the growers to complete the sowing of canola crop before October 31. Addressing a gathering of growers in Abbaspur here on Monday, he urged the growers to use high yielding
Published 10 Oct, 2006 12:00am
ILO for creating decent jobs for earthquake survivors

ILO for creating decent jobs for earthquake survivors

The International Labour Organisation (ILO) has called for making efforts to create decent jobs for the survivors of October 8 earthquake on a quick basis to generate income, and give back the disadvantaged and affected families their dignity.
Published 10 Oct, 2006 12:00am
Rs 4.50 billion allocated for mega projects in Mirpur

Rs 4.50 billion allocated for mega projects in Mirpur

The federal government has allocated Rs 4.50 billion for three mega projects of greater water supply and sewerage projects for Mirpur city and adjoining hamlets besides a longest-ever Rathua-Harrayam Bridge in the district.
Published 10 Oct, 2006 12:00am
Pakistan's team in Beijing to hold talks on FTA

Pakistan's team in Beijing to hold talks on FTA

A nine-member high-level delegation from Pakistan arrived here on Monday morning to hold talks on Free Trade Agreement (FTA) with Chinese officials from October 10. The Secretary Commerce Syed Asif Shah is leading the delegation, while the other members c
Published 10 Oct, 2006 12:00am
13 new universities granted charters in two years

13 new universities granted charters in two years

The Higher Education Commission (HEC) has granted charters to 13 new universities over the past two years, with the majority opened in areas where higher education opportunities were previously unavailable.
Published 10 Oct, 2006 12:00am
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