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Print - 2006-11-06
Acquisition is the norm in local banking

Acquisition is the norm in local banking

The due diligence exercise by ABN AMRO Bank for acquisition of Prime Bank Limited is said to be nearly complete. The acquiring foreign bank had reportedly indicated a price range of Rs 50 to 60 per share for the 65-branch network, which will provide ready
Published 06 Nov, 2006 12:00am
Ranatunga welcomes Hair's exit

Ranatunga welcomes Hair's exit

Sri Lankan cricket legend Arjuna Ranatunga Sunday welcomed the International Cricket Council's decision to remove Australian umpire Darrell Hair from its elite panel.
Published 06 Nov, 2006 12:00am
England arrive in Australia for Ashes defence

England arrive in Australia for Ashes defence

England's cricketers arrived in Sydney on Sunday to defend the Ashes against Australia in one of the most eagerly-anticipated series in cricket history.
Published 06 Nov, 2006 12:00am
Australia bag maiden Champions Trophy title

Australia bag maiden Champions Trophy title

World number one Australia wrested the Champions Trophy from the West Indies with an eight-wicket victory in a disappointing rain-hit final here on Sunday.
Published 06 Nov, 2006 12:00am
Ata-ur-Rehman hails ban lift

Ata-ur-Rehman hails ban lift

Former Pakistan paceman Ata-ur-Rehman Sunday thanked the world cricket authorities for lifting a ban on him, saying they had given back the missing half of his life.
Published 06 Nov, 2006 12:00am
Absence of Shoaib and Asif a big disadvantage

Absence of Shoaib and Asif a big disadvantage

Former Chairman, Pakistan Cricket Board, Lieutenant General Tauqir Zia (retd) said that the absence of banned fast bowlers Shoaib Akhtar and Muhammad Asif will be a big disadvantage for Pakistan in the home series against West Indies.
Published 06 Nov, 2006 12:00am
New panel to hear doping appeal

New panel to hear doping appeal

Justice Fakhruddin Ibrahim will head the new panel appointed by the Pakistan Cricket Board (PCB) to hear the appeals against the doping bans imposed on fast bowlers Shoaib Akhtar and Mohammad Asif.
Published 06 Nov, 2006 12:00am
Australians rally behind sacked Hair

Australians rally behind sacked Hair

Australians have responded with a mixture of disbelief and anger to the ICC's decision to ban Darrell Hair from umpiring international matches, labelling it "tragic" and "disgusting".
Published 06 Nov, 2006 12:00am
Davydenko destroys Hrbaty in Paris Masters final

Davydenko destroys Hrbaty in Paris Masters final

Russian Nikolay Davydenko destroyed Slovakia's Dominik Hrbaty 6-1 6-2 6-2 to take his first Masters Series title in expeditious manner on Sunday. Fourth seed Davydenko, the highest-ranked player in the Paris Masters field after a string of no-shows, neede
Published 06 Nov, 2006 12:00am
India honours match-fixing accused Azharuddin

India honours match-fixing accused Azharuddin

Mohammad Azharuddin was freed from the stigma of disgrace after India's cricket chiefs honoured the banned former captain for his services to the sport. Azharuddin, now 43, was among 16 Indian captains honoured by the Board of Control for Cricket in India
Published 06 Nov, 2006 12:00am
England can retain Ashes: Flintoff

England can retain Ashes: Flintoff

England captain Andrew Flintoff says his team no longer hold any fears about playing Australia and are confident of retaining the Ashes. England have not won a series in Australia for 20 years and have been given little chance of winning this time despite
Published 06 Nov, 2006 12:00am
KKI weekly market review

KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (November 05, 2006).
Published 06 Nov, 2006 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (October 30 to November 04, 2006).

Published 06 Nov, 2006 12:00am
The Weather

The Weather

The weather report on Sunday (November 05, 2006) and the forecast for Monday (November 06, 2006).
Published 06 Nov, 2006 12:00am
Sustaining growth of over 6 percent for the next decade

Sustaining growth of over 6 percent for the next decade

Pakistan faced one of the worst disasters of our history. Theearthquake of October 8 wreaked widespread devastation and enormous loss of life and property with extensive damage to economic assets, infrastructure and social service delivery.
Published 06 Nov, 2006 12:00am
Five pillars supporting growth

Five pillars supporting growth

Honourable Prime Minister, Ministers, development partners, distinguished guests ladies and gentlemen, On behalf of the Government of Pakistan, the Ministry of Finance and Economic Affairs Division, let me welcome you to the Pakistan Development Forum 200
Published 06 Nov, 2006 12:00am
WIEF: Successor to OIC Business Forum

WIEF: Successor to OIC Business Forum

I welcome you to the curtain raiser for the 2nd Session of World Islamic Economic Forum (WIEF) on "Unleashing the Potential of Emerging Markets", a three day event scheduled for 5th - 7th of November 2006 to be held in Islamabad, at the Jinnah Convention
Published 06 Nov, 2006 12:00am
Placing infrastructure, utilities and services with private operators

Placing infrastructure, utilities and services with private operators

After suffering the biggest natural disaster in its history last October, an image of strength and resilience has emerged in the world when looking at Pakistan's relief and reconstruction efforts. We are truly impressed by the Government's leadership in t
Published 06 Nov, 2006 12:00am
Microfinance in Pakistan: A paradigm shift

Microfinance in Pakistan: A paradigm shift

The microfinance story in Pakistan, a testament to the fact that given the political will and undeterred resolve, it is possible to achieve a paradigm shift, where the needs of the marginalised and the disadvantaged become a priority and where commerciall
Published 06 Nov, 2006 12:00am
The Centaurus, a gateway to Pakistani construction industry

The Centaurus, a gateway to Pakistani construction industry

Pakistan is presently ranked amongst those states which have opened its local market for open investments in almost all development sectors. And also the first after China in the top ten thickly populated countries where the economic development is speedi
Published 06 Nov, 2006 12:00am
Teradata - a division of NCR

Teradata - a division of NCR

Leonidas Georgiades has 25 years of Information & Communication Technology experience across Sales / Industry Management and Professional Services roles at NCR, and AT&T Global Information Solutions. For the past 10 years he has been leading the developme
Published 06 Nov, 2006 12:00am
PICIC - Truly a financial supermarket

PICIC - Truly a financial supermarket

PICIC is a pioneer private sector development finance institution of Pakistan, and has played a key role in the industrial development and creation of industrial infrastructure in Pakistan. It was established in October 1957 by Pakistani and Foreign inves
Published 06 Nov, 2006 12:00am
Policy dislocation hurt competitiveness

Policy dislocation hurt competitiveness

International Arbitration and Arbitral Award Enforcement: This has been recently promulgated as an Ordinance by the Government of Pakistan and provides for the recognition and enforcement of Arbitral Agreements and Foreign Arbitral Awards.
Published 06 Nov, 2006 12:00am
No breakthrough in Bangladeshi poll impasse

No breakthrough in Bangladeshi poll impasse

Bangladesh teetered on the brink of more trouble on Sunday after officials said President Iajuddin Ahmed's talks with top advisers had failed to resolve a stand-off between the country's two feuding political groups.
Published 06 Nov, 2006 12:00am
Israel presses on with Gaza offensive

Israel presses on with Gaza offensive

Israeli forces shot dead two Palestinian gunmen and a police officer and kept up missile strikes against militant targets in the northern Gaza Strip on Sunday, residents and medical officials said.
Published 06 Nov, 2006 12:00am
Dialogue with Pakistan on terrorism is difficult: India

Dialogue with Pakistan on terrorism is difficult: India

Indian Ambassador to United States Ronen Sen said that it was difficult to conduct negotiation with Pakistan in framework of terrorism and called for dismantling terrorism infrastructure.
Published 06 Nov, 2006 12:00am
President, Prime Minister and Badawi hold meeting

President, Prime Minister and Badawi hold meeting

President General Pervez Musharraf, Prime Minister Shaukat Aziz, Malaysian Prime Minister Abdullah Ahmed Badawi held a meeting here at the Prime Minister House on Sunday evening.
Published 06 Nov, 2006 12:00am
President, Prime Minister and Badawi hold meeting

President, Prime Minister and Badawi hold meeting

President General Pervez Musharraf, Prime Minister Shaukat Aziz, Malaysian Prime Minister Abdullah Ahmed Badawi held a meeting here at the Prime Minister House on Sunday evening.
Published 06 Nov, 2006 12:00am
12 die as blasts rock Guwahati

12 die as blasts rock Guwahati

At least 12 people, mostly shoppers, were killed and more than 40 injured in two simultaneous bomb attacks on Sunday in the north-eastern Indian city of Guwahati, police said. The Press Trust of India (PTI) put the number of those injured at 52 and said 1
Published 06 Nov, 2006 12:00am
12 die as blasts rock Guwahati

12 die as blasts rock Guwahati

At least 12 people, mostly shoppers, were killed and more than 40 injured in two simultaneous bomb attacks on Sunday in the north-eastern Indian city of Guwahati, police said. The Press Trust of India (PTI) put the number of those injured at 52 and said 1
Published 06 Nov, 2006 12:00am
Bears dominate share market

Bears dominate share market

The share market witnessed heavy erosion during last week, ending on November 4, 2006, which was also the rollover week, and KSE-100 Index lost 320 points, or 2.8 percent, while the leveraging remained at its upper cap throughout the week.
Published 06 Nov, 2006 12:00am
Bears dominate share market

Bears dominate share market

The share market witnessed heavy erosion during last week, ending on November 4, 2006, which was also the rollover week, and KSE-100 Index lost 320 points, or 2.8 percent, while the leveraging remained at its upper cap throughout the week.
Published 06 Nov, 2006 12:00am
Bears dominate share market

Bears dominate share market

The share market witnessed heavy erosion during last week, ending on November 4, 2006, which was also the rollover week, and KSE-100 Index lost 320 points, or 2.8 percent, while the leveraging remained at its upper cap throughout the week.
Published 06 Nov, 2006 12:00am
Bush praises conviction as a 'milestone'

Bush praises conviction as a 'milestone'

US President George W. Bush on Sunday hailed the conviction of Saddam Hussein for crimes against humanity as a "major achievement" and a "milestone" for Iraq's move to democracy. "The trial is a milestone in the Iraqi people's efforts to replace the rule
Published 06 Nov, 2006 12:00am
Bush praises conviction as a 'milestone'

Bush praises conviction as a 'milestone'

US President George W. Bush on Sunday hailed the conviction of Saddam Hussein for crimes against humanity as a "major achievement" and a "milestone" for Iraq's move to democracy. "The trial is a milestone in the Iraqi people's efforts to replace the rule
Published 06 Nov, 2006 12:00am
Bears tighten grip on LSE

Bears tighten grip on LSE

Equity prices drifted lower and received heavy battering with five percent net loss in the index following squeezing positions by brokers and investors, primarily due to worries over the enforcement of new risk management measures from November 6 on the L
Published 06 Nov, 2006 12:00am
Bears tighten grip on LSE

Bears tighten grip on LSE

Equity prices drifted lower and received heavy battering with five percent net loss in the index following squeezing positions by brokers and investors, primarily due to worries over the enforcement of new risk management measures from November 6 on the L
Published 06 Nov, 2006 12:00am
THE RUPEE: mixed trend in currency market

THE RUPEE: mixed trend in currency market

The rupee showed mixed trend versus dollar and euro during the week ending on November 4, 2006. In the interbank market, it showed no major change versus dollar at Rs 60.64 and Rs 60.65 for buying and selling, but in the open market it lost 5 paisa at Rs
Published 06 Nov, 2006 12:00am
THE RUPEE: mixed trend in currency market

THE RUPEE: mixed trend in currency market

The rupee showed mixed trend versus dollar and euro during the week ending on November 4, 2006. In the interbank market, it showed no major change versus dollar at Rs 60.64 and Rs 60.65 for buying and selling, but in the open market it lost 5 paisa at Rs
Published 06 Nov, 2006 12:00am
Malaysia agrees to build three highways

Malaysia agrees to build three highways

The Malaysian government agreed on Sunday to construct three vital highway projects, including Karachi Northern Bypass, on build, operate and transfer (BOT) basis.
Published 06 Nov, 2006 12:00am
Malaysia agrees to build three highways

Malaysia agrees to build three highways

The Malaysian government agreed on Sunday to construct three vital highway projects, including Karachi Northern Bypass, on build, operate and transfer (BOT) basis.
Published 06 Nov, 2006 12:00am
Malaysia agrees to build three highways

Malaysia agrees to build three highways

The Malaysian government agreed on Sunday to construct three vital highway projects, including Karachi Northern Bypass, on build, operate and transfer (BOT) basis.
Published 06 Nov, 2006 12:00am
World Bank annoyed over freezing power tariff

World Bank annoyed over freezing power tariff

The World Bank (WB) has expressed annoyance on freezing power tariff for the last two years, which caused above Rs 30 billion loss to the Water and Power Development Authority (Wapda), sources in Nepra told Business Recorder.
Published 06 Nov, 2006 12:00am
World Bank annoyed over freezing power tariff

World Bank annoyed over freezing power tariff

The World Bank (WB) has expressed annoyance on freezing power tariff for the last two years, which caused above Rs 30 billion loss to the Water and Power Development Authority (Wapda), sources in Nepra told Business Recorder.
Published 06 Nov, 2006 12:00am
World Bank annoyed over freezing power tariff

World Bank annoyed over freezing power tariff

The World Bank (WB) has expressed annoyance on freezing power tariff for the last two years, which caused above Rs 30 billion loss to the Water and Power Development Authority (Wapda), sources in Nepra told Business Recorder.
Published 06 Nov, 2006 12:00am
Acquisition is the norm in local banking

Acquisition is the norm in local banking

The due diligence exercise by ABN AMRO Bank for acquisition of Prime Bank Limited is said to be nearly complete. The acquiring foreign bank had reportedly indicated a price range of Rs 50 to 60 per share for the 65-branch network, which will provide ready
Published 06 Nov, 2006 12:00am
Acquisition is the norm in local banking

Acquisition is the norm in local banking

The due diligence exercise by ABN AMRO Bank for acquisition of Prime Bank Limited is said to be nearly complete. The acquiring foreign bank had reportedly indicated a price range of Rs 50 to 60 per share for the 65-branch network, which will provide ready
Published 06 Nov, 2006 12:00am
MONEY WEEK: government budgetary borrowing up Rs 18 billion in one week

MONEY WEEK: government budgetary borrowing up Rs 18 billion in one week

Government budgetary borrowing rose to Rs 73.4 billion on 14th October compared with Rs55.7 billion a week ago. Both Federal government and the provincial governments contributed to nearly Rs 18 billion increase in the government budgetary borrowing durin
Published 06 Nov, 2006 12:00am
Free ambulance service

Free ambulance service

The Binoria Welfare Trust on Sunday launched free ambulance service in Karachi. A 250-bed medical complex of the Trust is also under construction in the city. The citizens could get services of free ambulance by contacting on telephone numbers 021-2567699
Published 06 Nov, 2006 12:00am
M-9 NHA project to be built on BOT basis

M-9 NHA project to be built on BOT basis

Super Highway between Karachi and Hyderabad to be upgraded to six-lane Motorway (M-9). It will be first major National High Authority (NHA)) project to be constructed on Build-Operate-Transfer (BOT) basis.
Published 06 Nov, 2006 12:00am
DHA hands over renovated Army barrack to Fomma

DHA hands over renovated Army barrack to Fomma

A 19th century renovated and refurbished Army barrack was handed over to Foundation for Museum of Modern Art (Fomma) by Defence Housing Authority in a simple ceremony held at DHA Zamzama Park, said a press release here on Sunday.
Published 06 Nov, 2006 12:00am
Rawalakot jolted

Rawalakot jolted

An earthquake of mild intensity measuring 4.2 on Richter scale jolted Bagh and Rawalakot on Sunday. The earthquake originated at 1:10pm (PST) and its epicentre was about 240 kilometres north east of Peshawar in Kashmir.
Published 06 Nov, 2006 12:00am
Wapda clarification

Wapda clarification

The Water and Power Development Authority (Wapda) has clarified a news item published on Sunday in a section of the press.
Published 06 Nov, 2006 12:00am
'Punjab government to uplift historic places'

'Punjab government to uplift historic places'

Punjab Chief Minister Chaudhry Pervaiz Elahi here on Sunday chairing a meeting on cultural heritage and beautification of the City stated that provincial government has commenced a comprehensive plan with reference to that.
Published 06 Nov, 2006 12:00am
Near panic buying seen on cotton market

Near panic buying seen on cotton market

Almost panic buying for obvious reasons by the cotton consumers was marked when over 100,000 bales changed hands during the post-Eid week under review, spot rate was pulled down by Rs 25 to Rs 2350.
Published 06 Nov, 2006 12:00am
Near panic buying seen on cotton market

Near panic buying seen on cotton market

Almost panic buying for obvious reasons by the cotton consumers was marked when over 100,000 bales changed hands during the post-Eid week under review, spot rate was pulled down by Rs 25 to Rs 2350.
Published 06 Nov, 2006 12:00am
Committee to settle Eid moon controversy

Committee to settle Eid moon controversy

Prime Minister Shaukat Aziz has tasked a committee to settle down Eid moon controversy to ensure uniform Eid festival in the country, said Vakil Ahmed Khan, Secretary Federal Religious Affairs Ministry. Talking to journalists at Hajj Directorate here on S
Published 06 Nov, 2006 12:00am
Rs 54.33 million allocated for fisheries

Rs 54.33 million allocated for fisheries

The Punjab Government has allocated an amount of Rs 54.33 million for the development programme of Fisheries Department for the current fiscal year, 2006-2007.
Published 06 Nov, 2006 12:00am
Dengue: a logical outcome of sanitation system failure

Dengue: a logical outcome of sanitation system failure

The second spike of mosquito transmitted dengue fever and dengue haemorrhagic fever is the direct outcome of the combined negligence of public health institutions and municipal bodies as well as local governments.
Published 06 Nov, 2006 12:00am
PPPP meeting

PPPP meeting

Pakistan Peoples Party Parliamentarian (PPPP) is holding public meetings in Bhawalpur on November 15 and Rahim Yar Khan on November 16, 2006.Qasim Zia head of PPPP Punjab and other senior leaders of the Party will address these meetings.
Published 06 Nov, 2006 12:00am
Fan industry in crisis

Fan industry in crisis

The rising prices of the raw material and recent 125 percent increase in copper wires' prices and 40 percent increase in the silver prices have put the fans manufacturing industry in severe financial crisis.
Published 06 Nov, 2006 12:00am
Setting up coal mining & power generation company planned

Setting up coal mining & power generation company planned

The government has decided to establish a coal mining and power generation company on the pattern of Wapda for harnessing Thar coal resource, while negotiation between Pakistan and China for establishing a tariff for coal power generation is going on.
Published 06 Nov, 2006 12:00am
Performance of Pakistani students appreciated

Performance of Pakistani students appreciated

The wives of African leaders and head of the states participating in the Beijing Summit of the Forum on China-Africa Co-operation highly appreciated the performance of Pakistani students at a grand function held here on Sunday morning.
Published 06 Nov, 2006 12:00am
Pict gets best container terminal operator award

Pict gets best container terminal operator award

Pakistan International Container Terminal Limited (Pict) has been selected to receive the prestigious award--Middle East and India Subcontinent Award--in the category of 'best container terminal operator' by world's shipping Icon publication, Daily 'Lloyd
Published 06 Nov, 2006 12:00am
MUET holds first year admission tests

MUET holds first year admission tests

Pre-Entry test for admission in the 1st year Engineering, Architecture, Planning Art and Design and City, and Regional Planning 2006 07 (7th batch) for 16 different disciplines at Mehran University of Engineering and Technology (MUET), Jamshoro held here
Published 06 Nov, 2006 12:00am
Saddam sentence evokes mixed reaction

Saddam sentence evokes mixed reaction

Most people interviewed for their reaction on the death sentence to former Iraqi president Saddam Hussain have supported the verdict of the trail court in Baghdad on Sunday.
Published 06 Nov, 2006 12:00am
Hindko culture's preservation, promotion stressed

Hindko culture's preservation, promotion stressed

The work being done in Peshawar for the preservation and promotion of Hindko language and culture is a source of pride for all the Hindko-knowings and more co-ordination should be struck to yield maximum results.
Published 06 Nov, 2006 12:00am
One held, explosive seized

One held, explosive seized

Law enforcement agencies on Sunday arrested an accused, Dilshad and recovered explosive materials weighing six kilograms along with detonators from his home in Mohammad Colony in Sui town in Dera Bugti, DSP Sui Shabbir told APP on phone.
Published 06 Nov, 2006 12:00am
Government committed to empowering women: Sehba

Government committed to empowering women: Sehba

First Lady Begum Sehba Musharraf on Sunday reiterating government's commitment towards the empowerment of women called for adopting a three-pronged agenda aimed at creating awareness, removal of socio-economic barriers and provision of equal opportunities
Published 06 Nov, 2006 12:00am
Pak-Malaysian joint ministerial commission in January

Pak-Malaysian joint ministerial commission in January

Foreign Minister of Malaysia Syed Hamid Albar called on Foreign Minister Khurshid Kasuri here on Sunday and discussed bilateral, regional and international issues of mutual interest. They also discussed the co-operation within OIC between Pakistan and Mal
Published 06 Nov, 2006 12:00am
MMA renews threat of resignations

MMA renews threat of resignations

MMA central leader Hafiz Hussain Ahmed on Sunday threatened that if the government passed the Women Protection Bill without removing their reservations, they will quit the parliament.
Published 06 Nov, 2006 12:00am
Pakistan proposes creation of Islamic Economic Union

Pakistan proposes creation of Islamic Economic Union

Pakistan has proposed creation of an Islamic Economic Union by entering into multilateral free trade agreements and promoting free flow of capital, labour, goods and services.
Published 06 Nov, 2006 12:00am
Saddam sentenced to death

Saddam sentenced to death

A shaken but defiant Saddam Hussein was sentenced on Sunday to death by hanging as the dramatic end to his trial drove another wedge between the country's already bitterly divided factions. Judge Rauf Rasheed Abdel Rahman was obliged to shout to make the
Published 06 Nov, 2006 12:00am
Pakistan proposes creation of Islamic Economic Union

Pakistan proposes creation of Islamic Economic Union

Pakistan has proposed creation of an Islamic Economic Union by entering into multilateral free trade agreements and promoting free flow of capital, labour, goods and services.
Published 06 Nov, 2006 12:00am
Pakistan proposes creation of Islamic Economic Union

Pakistan proposes creation of Islamic Economic Union

Pakistan has proposed creation of an Islamic Economic Union by entering into multilateral free trade agreements and promoting free flow of capital, labour, goods and services.
Published 06 Nov, 2006 12:00am
USA continues strengthening its SCRA

USA continues strengthening its SCRA

USA, whose balance under Special Convertible Rupee Accounts (SCRAs), a non-residents portfolio investment financial arrangement, rose to $113.1 million on October 31, further rose to $133.3 million on November 3, showing an increase of $20.1 million in th
Published 06 Nov, 2006 12:00am
Joint investment company to be set up

Joint investment company to be set up

Pakistan and Malaysia on Sunday agreed to set up joint investment company and announced that the Free Trade Agreement (FTA) between the two countries, to be signed by the end of 2006, would give further boost to their trade and economic relations.
Published 06 Nov, 2006 12:00am
Joint investment company to be set up

Joint investment company to be set up

Pakistan and Malaysia on Sunday agreed to set up joint investment company and announced that the Free Trade Agreement (FTA) between the two countries, to be signed by the end of 2006, would give further boost to their trade and economic relations.
Published 06 Nov, 2006 12:00am
Joint investment company to be set up

Joint investment company to be set up

Pakistan and Malaysia on Sunday agreed to set up joint investment company and announced that the Free Trade Agreement (FTA) between the two countries, to be signed by the end of 2006, would give further boost to their trade and economic relations.
Published 06 Nov, 2006 12:00am
Saddam sentenced to death

Saddam sentenced to death

A shaken but defiant Saddam Hussein was sentenced on Sunday to death by hanging as the dramatic end to his trial drove another wedge between the country's already bitterly divided factions. Judge Rauf Rasheed Abdel Rahman was obliged to shout to make the
Published 06 Nov, 2006 12:00am
USA continues strengthening its SCRA

USA continues strengthening its SCRA

USA, whose balance under Special Convertible Rupee Accounts (SCRAs), a non-residents portfolio investment financial arrangement, rose to $113.1 million on October 31, further rose to $133.3 million on November 3, showing an increase of $20.1 million in th
Published 06 Nov, 2006 12:00am
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