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Print - 2007-05-21
CBR to probe into officials' role in Bawan Shah scam

CBR to probe into officials' role in Bawan Shah scam

The Central Board of Revenue (CBR) has started 'fact finding inquiry' into the case of multi-million GST scam of the Bawan Shah Group of Companies to identify tax officials involved in the gross violations of different schemes, including the Duty and Tax
Published 21 May, 2007 12:00am
CBR to probe into officials' role in Bawan Shah scam

CBR to probe into officials' role in Bawan Shah scam

The Central Board of Revenue (CBR) has started 'fact finding inquiry' into the case of multi-million GST scam of the Bawan Shah Group of Companies to identify tax officials involved in the gross violations of different schemes, including the Duty and Tax
Published 21 May, 2007 12:00am
Islamabad tense after reports of Lal Masjid operation

Islamabad tense after reports of Lal Masjid operation

A tense situation re-emerged in Islamabad on late Sunday after reports of possible operation against the Lal Masjid seminary students and issuance of clear-cut warning by the mosque administration to resort Jihad (holy war), if operation was conducted by
Published 21 May, 2007 12:00am
Islamabad tense after reports of Lal Masjid operation

Islamabad tense after reports of Lal Masjid operation

A tense situation re-emerged in Islamabad on late Sunday after reports of possible operation against the Lal Masjid seminary students and issuance of clear-cut warning by the mosque administration to resort Jihad (holy war), if operation was conducted by
Published 21 May, 2007 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (May 14 to 19, 2007).

Published 21 May, 2007 12:00am
The Weather

The Weather

The weather report on Sunday (May 20, 2007) and the forecast for Monday (May 21, 2007).
Published 21 May, 2007 12:00am
KKI weekly market review

KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (May 20, 2007).
Published 21 May, 2007 12:00am
Pakistan Beverage Limited

Pakistan Beverage Limited

Pakistan Beverage Limited was established on an auspicious day (the day of our Independence) ie 14th August in the year 1950. It was the first Pakistani Company to start the manufacture of a local registered and formulated softdrink brand - PAKOLA.
Published 21 May, 2007 12:00am
General Air Conditioners - Luxury for a lifetime

General Air Conditioners - Luxury for a lifetime

Pakistan; the land of wonders is homeland for passionate people and a country that enjoys all the gifts that nature has to offer. Summers here are extremely hot, especially in the central region as well as the desert areas.
Published 21 May, 2007 12:00am
Message from General Manager

Message from General Manager

Technology shapes the lifestyles of people; we are putting extra effort to ensure everyone's access to innovative technology. We provide plain facts and the perfect platform to trust our product and company.
Published 21 May, 2007 12:00am
Message from Country Manager, General

Message from Country Manager, General

"General is the only 'fit & forget' air conditioner in the world. These are world-class machines that incorporate cutting edge air conditioning technology to give unique features and excellent results to its consumers.
Published 21 May, 2007 12:00am
Ecclestone presses Australia for night Grand Prix

Ecclestone presses Australia for night Grand Prix

Formula One Supremo Bernie Ecclestone has warned the Australian Grand Prix will be moved overseas unless the race is held at night in a move designed to boost global TV ratings, reports said on Sunday.
Published 21 May, 2007 12:00am
Federer ends Nadal's 81-match clay streak

Federer ends Nadal's 81-match clay streak

Roger Federer produced an astonishing turn-around to beat Rafael Nadal for the first time on clay courts in the final of the Hamburg Masters on Sunday.
Published 21 May, 2007 12:00am
Panesar takes six wickets in first Test against West Indies

Panesar takes six wickets in first Test against West Indies

Monty Panesar took six wickets to leave England in charge of the first Test against West Indies at Lord's here on Sunday. At lunch on the fourth day England, in their second innings, were eight without loss - a lead of 124 - with captain Andrew Strauss si
Published 21 May, 2007 12:00am
Play delayed again in India-Bangladesh Test

Play delayed again in India-Bangladesh Test

Bad weather delayed the third day's play in the badly-truncated first cricket Test between India and Bangladesh here on Sunday. Heavy rain since dawn waterlogged the Ruhul Amin Stadium, where poor drainage facilities will make the ground staff's task toug
Published 21 May, 2007 12:00am
Gregan dumped as Wallabies made captain

Gregan dumped as Wallabies made captain

George Gregan has been sacked as Wallabies captain for the 2007 international season, ending his record run as Australia's longest serving test skipper.
Published 21 May, 2007 12:00am
Lampard salutes never-say-die Chelsea

Lampard salutes never-say-die Chelsea

Frank Lampard hailed Chelsea's never-say-die spirit as his side snatched the FA Cup from Manchester United. Jose Mourinho's side claimed their second trophy of a dramatic campaign as Didier Drogba's late extra-time goal earned a 1-0 Cup final victory over
Published 21 May, 2007 12:00am
Giggs rues goal that got away

Giggs rues goal that got away

Ryan Giggs claimed Manchester United had been harshly treated in the FA Cup final after his extra-time effort was ruled not to have crossed the line. Sir Alex Ferguson's side missed out on the double after Didier Drogba's goal five minutes from the end cl
Published 21 May, 2007 12:00am
India's monsoon series in Bangladesh a 'crazy idea'

India's monsoon series in Bangladesh a 'crazy idea'

India's ill-timed tour of Bangladesh at the start of a gruelling year-long schedule for its cricketers drew sharp criticism on Sunday. Indian and Bangladeshi officials were forced to duck for cover as inclement weather threatened to consign the first Test
Published 21 May, 2007 12:00am
Hargreaves set to join Manchester United: report

Hargreaves set to join Manchester United: report

England midfielder Owen Hargreaves is close to securing a dream move to Manchester United, according to reports in Germany. The website of German magazine Spiegel said that the Canadian-born Bayern Munich star will complete a 25 million euro move once he
Published 21 May, 2007 12:00am
Two-day camp for selecting athletics at Sindh University

Two-day camp for selecting athletics at Sindh University

Centre for Health & Physical Education, the University of Sindh Jamshoro, has organised two-week refresher course and training camp for the identification of talent in the field of Athletics in Pakistan in collaboration with Olympic confederation of Germa
Published 21 May, 2007 12:00am
Food safety an issue across Asia: rising ailments on adulteration

Food safety an issue across Asia: rising ailments on adulteration

When Bangladeshi magistrate Rokon-ud-Dowla raided a local fish market to check on the quality of the food for sale, he was shocked by what he discovered. "We found all 176 tonnes of fish in the market containing harmful formaldehydes," he said.
Published 21 May, 2007 12:00am
Vegetables may disappear due to climate changes

Vegetables may disappear due to climate changes

Traditional vegetables such as carrots, peas, leeks, and broccoli may soon become a rarity on British dining tables because of climate changes. Media reports speak of farmers warning that changes in the weather due to global warming have left growers with
Published 21 May, 2007 12:00am
Pollution turning white Taj Mahal yellow

Pollution turning white Taj Mahal yellow

Air pollution is turning the Taj Mahal, India's famed white-marble monument to love, a decidedly unromantic yellow. But as with many ageing beauties, a therapeutic mudpack has been recommended to restore its natural allure.
Published 21 May, 2007 12:00am
HEALTH UPDATE: once-daily dose may control mild asthma

HEALTH UPDATE: once-daily dose may control mild asthma

People who suffer mild asthma controlled by inhaling steroids twice daily could switch to inhaling once a day, or taking a daily pill, according to research published in Thursday's New England Journal of Medicine.
Published 21 May, 2007 12:00am
HEALTH UPDATE: Mediterranean diet cuts lung disease risk

HEALTH UPDATE: Mediterranean diet cuts lung disease risk

Eating a Mediterranean diet halves the risk of serious lung disease like emphysema and bronchitis, a TV channel reported on May 15 citing a new study. Group under the umbrella term chronic obstructive pulmonary disease (COPD), they are expected to become
Published 21 May, 2007 12:00am
HEALTH UPDATE: broccoli wards off cancer

HEALTH UPDATE: broccoli wards off cancer

You can steam it, stir fry it, micro wave it or eat it raw, but for heaven's sake don't do what the English do, don't boil that broccoli to death.
Published 21 May, 2007 12:00am
HEALTH UPDATE: environmentally friendly cooker invented

HEALTH UPDATE: environmentally friendly cooker invented

British scientists have invented an environmentally friendly all-in-one cooker, generator and refrigerator, which could help the world's poorest communities. Biomass fuels such as wood or animal waste is burned into energy to power the appliance.
Published 21 May, 2007 12:00am
Cyber-fraud costing retailers £580 million annually

Cyber-fraud costing retailers £580 million annually

Cyber-fraud is costing retailers an estimated 580 million pounds per year - a figure, which could surge almost three-fold by 2010, says a new report. Almost two-thirds of online merchants have been affected by Internet fraud, losing on average three perce
Published 21 May, 2007 12:00am
China launches communications satellite for Nigeria

China launches communications satellite for Nigeria

A Chinese rocket blasted a Nigerian communications satellite into orbit on May 14, marking an expansion of China's commercial launching services for foreign space hardware, state media said. The official Xinhua News Agency said it was the first time a for
Published 21 May, 2007 12:00am
Internet may help encourage exercise

Internet may help encourage exercise

People who spend their days in front of a computer may want to check out some fitness-related Web sites, according to a study published on May 14. Researchers found that Internet-based exercise programs worked as well as printed advice in getting sedentar
Published 21 May, 2007 12:00am
Mobile phones see new virus threats this year: McAfee

Mobile phones see new virus threats this year: McAfee

The number of mobile viruses is set to double by the end of the year as virus writers are creating new ways to attack the fragmented cellphone software market, a senior official from data security firm McAfee said on May 15.
Published 21 May, 2007 12:00am
Bangladeshi mobile users to double by 2009

Bangladeshi mobile users to double by 2009

The Asian Development Bank (ADB) expects the total number of mobile phone users in Bangladesh to double in the next two years as competition heats up in the fast growing sector. "The number of subscribers doubled in one year - up from 11 million in 2006 t
Published 21 May, 2007 12:00am
Google revamps Internet search

Google revamps Internet search

Google went live on May 16 with a revamped Internet search engine that integrates video, books, maps and news into "universal" results to online queries.
Published 21 May, 2007 12:00am
Website claims to forecast airfare changes

Website claims to forecast airfare changes

Farecast.com, a new travel Web site that claims it can forecast the rise or fall of air ticket prices, plans to help travellers solve the long standing riddle of how to catch fast-moving and often illogical fare deals.
Published 21 May, 2007 12:00am
MySpace to launch online TV channels

MySpace to launch online TV channels

Popular Internet social network MySpace said on May 15 it planned to launch online television channels from news and entertainment networks that include The New York Times Co, Reuters and National Geographic.
Published 21 May, 2007 12:00am
Myanmar bans remote control toys

Myanmar bans remote control toys

Remote control toys have been declared a threat to security and are being banned in Myanmar, a news report said on May 15. Authorities in the military-run country have told toyshop owners in the Yangon area that the ban has been imposed because terrorists
Published 21 May, 2007 12:00am
Programs step on 235 Microsoft patents

Programs step on 235 Microsoft patents

Microsoft Corp has given the most detailed description to date of the number of open-source computer programs it says infringe on its patents, but the company says it still prefers licensing deals with open-source developers, software distributors and use
Published 21 May, 2007 12:00am
World's largest memory capacity card for mobile

World's largest memory capacity card for mobile

South Korea's Samsung Electronics said on May 17 that it had developed the world's largest storage-capacity memory card for mobile phones. The eight-gigabyte memory card, microSD, can store some 2,000 MP3 music files, 4,000 photographs or five DVD-quality
Published 21 May, 2007 12:00am
Cellphone users exceeds 52 million

Cellphone users exceeds 52 million

Cellphone business in the country has mushroomed from 1.2 million in 2002 to 52 million in 2007 with the arrival of Telenor and Warid after Mobilink, Ufone, Paktel and Instaphone. Mobilink has over 23 million clients followed by Ufone with 11 million, War
Published 21 May, 2007 12:00am
SunTrust selling Coca-Cola shares held since 1919

SunTrust selling Coca-Cola shares held since 1919

SunTrust Banks Inc may be losing its taste for Coke, the beverage it helped to become a national icon nearly a century ago. The large south-east US regional bank has begun to unload shares of Coca-Cola Co that it has owned since 1919, as part of a restruc
Published 21 May, 2007 12:00am
SunTrust selling Coca-Cola shares held since 1919

SunTrust selling Coca-Cola shares held since 1919

SunTrust Banks Inc may be losing its taste for Coke, the beverage it helped to become a national icon nearly a century ago. The large south-east US regional bank has begun to unload shares of Coca-Cola Co that it has owned since 1919, as part of a restruc
Published 21 May, 2007 12:00am
Merrill launches new team for ultra-rich in Asia

Merrill launches new team for ultra-rich in Asia

Wall Street firm Merrill Lynch is launching a new Asian team to focus on providing investment advice and investment banking services to the region's growing ranks of rich entrepreneurs.
Published 21 May, 2007 12:00am
Tyco to pay $3 billion to settle fraud suits

Tyco to pay $3 billion to settle fraud suits

Industrial conglomerate Tyco International Ltd said on May 15 it agreed to pay three billion dollars to settle shareholder lawsuits on securities and accounting fraud by its former management.
Published 21 May, 2007 12:00am
Tyco to pay $3 billion to settle fraud suits

Tyco to pay $3 billion to settle fraud suits

Industrial conglomerate Tyco International Ltd said on May 15 it agreed to pay three billion dollars to settle shareholder lawsuits on securities and accounting fraud by its former management.
Published 21 May, 2007 12:00am
NEC forecasts third straight annual loss

NEC forecasts third straight annual loss

Japanese microchip maker NEC Electronics Corp said on May 14 it would likely lose money for a third straight year, hit by falling prices and unit shipments. NEC Electronics, 70 percent owned by NEC Corp, has suffered amid tough price competition, while it
Published 21 May, 2007 12:00am
NEC forecasts third straight annual loss

NEC forecasts third straight annual loss

Japanese microchip maker NEC Electronics Corp said on May 14 it would likely lose money for a third straight year, hit by falling prices and unit shipments. NEC Electronics, 70 percent owned by NEC Corp, has suffered amid tough price competition, while it
Published 21 May, 2007 12:00am
SAP to work with SunGard in banking software

SAP to work with SunGard in banking software

Software maker SAP plans to collaborate with SunGard, the industry leader in banking software, it said on Monday, as it pushes to expand its financial services business.
Published 21 May, 2007 12:00am
Northwest Airlines set to emerge from bankruptcy

Northwest Airlines set to emerge from bankruptcy

Northwest Airlines said on May 18 that it had won court approval for its reorganisation plan to allow the carrier to emerge from bankruptcy on May 31. The airline said the judge for the US Bankruptcy Court for in New York signed the order confirming North
Published 21 May, 2007 12:00am
Northwest Airlines set to emerge from bankruptcy

Northwest Airlines set to emerge from bankruptcy

Northwest Airlines said on May 18 that it had won court approval for its reorganisation plan to allow the carrier to emerge from bankruptcy on May 31. The airline said the judge for the US Bankruptcy Court for in New York signed the order confirming North
Published 21 May, 2007 12:00am
Struggling JAL forecasts return to profit

Struggling JAL forecasts return to profit

Japan Airlines Corp on May 15 forecast a return to profit in the current year as it benefits from rising passenger revenue after suffering two straight years of losses. Asia's largest carrier, which has been axing thousands of jobs in a restructuring driv
Published 21 May, 2007 12:00am
Struggling JAL forecasts return to profit

Struggling JAL forecasts return to profit

Japan Airlines Corp on May 15 forecast a return to profit in the current year as it benefits from rising passenger revenue after suffering two straight years of losses. Asia's largest carrier, which has been axing thousands of jobs in a restructuring driv
Published 21 May, 2007 12:00am
Vodacom mulls $480 million bid for Nigerian firm

Vodacom mulls $480 million bid for Nigerian firm

South African cell phone operator Vodacom is considering a $480 million offer for MTel, the mobile arm of privatised Nigerian telecoms company Nitel, Nigerian newspaper This Day said on May 16.
Published 21 May, 2007 12:00am
Bajaj Auto to split; options news hits shares

Bajaj Auto to split; options news hits shares

India's Bajaj Auto Ltd said on May 17 that it would split its manufacturing and finance operations, and its shares fell sharply on concerns about options for Germany's Allianz to lift its stake in two insurance joint ventures.
Published 21 May, 2007 12:00am
Bajaj Auto to split; options news hits shares

Bajaj Auto to split; options news hits shares

India's Bajaj Auto Ltd said on May 17 that it would split its manufacturing and finance operations, and its shares fell sharply on concerns about options for Germany's Allianz to lift its stake in two insurance joint ventures.
Published 21 May, 2007 12:00am
Alstom profit rises

Alstom profit rises

French transport and power group Alstom on Monday raised its profit targets after its power generating activities helped it more than double net profit to 448 million euros ($603.7 million) in 2006/2007.
Published 21 May, 2007 12:00am
Alstom profit rises

Alstom profit rises

French transport and power group Alstom on Monday raised its profit targets after its power generating activities helped it more than double net profit to 448 million euros ($603.7 million) in 2006/2007.
Published 21 May, 2007 12:00am
France to draft law against 'golden handshakes' after EADS row

France to draft law against 'golden handshakes' after EADS row

A law will be drawn up to do away with "golden handshakes" compensating top executives when they step down, new French President Nicolas Sarkozy said on May 18, referring specifically to companies in which the state is a shareholder.
Published 21 May, 2007 12:00am
China firm eyes Philippine ethanol plants

China firm eyes Philippine ethanol plants

China's Guangxi State Farm Bureau and a Philippine oil firm will spend $350 million to develop 4-5 ethanol plants in the country in the next two to five years, an executive with the local partner said on Sunday.
Published 21 May, 2007 12:00am
UniCredit set to buy Capitalia for over $29 billion

UniCredit set to buy Capitalia for over $29 billion

Italy's UniCredit was set to acquire smaller rival Capitalia for more than $29 billion on Sunday as the boards of both banks met to approve a deal to create Europe's second biggest bank by market value.
Published 21 May, 2007 12:00am
UniCredit set to buy Capitalia for over $29 billion

UniCredit set to buy Capitalia for over $29 billion

Italy's UniCredit was set to acquire smaller rival Capitalia for more than $29 billion on Sunday as the boards of both banks met to approve a deal to create Europe's second biggest bank by market value.
Published 21 May, 2007 12:00am
Ukraine ups Eurobond issuance, eyes convertibility

Ukraine ups Eurobond issuance, eyes convertibility

Ukraine plans to increase its Eurobond issuance this year and wants to make its currency fully convertible as soon as its turbulent politics settle down, senior officials said on Sunday.
Published 21 May, 2007 12:00am
Ukraine ups Eurobond issuance, eyes convertibility

Ukraine ups Eurobond issuance, eyes convertibility

Ukraine plans to increase its Eurobond issuance this year and wants to make its currency fully convertible as soon as its turbulent politics settle down, senior officials said on Sunday.
Published 21 May, 2007 12:00am
Russia rules out EU pact before WTO entry

Russia rules out EU pact before WTO entry

Moscow will not renegotiate a key co-operation agreement with the European Union until Russia secures entry to the World Trade Organisation, a top minister said Sunday in a rebuff to Brussels.
Published 21 May, 2007 12:00am
Siemens names new boss amid corruption storm

Siemens names new boss amid corruption storm

German engineering giant Siemens on Sunday announced it had hired an Austrian pharmaceutical specialist as its new chief executive, a surprise choice for the firm dogged by corruption scandals.
Published 21 May, 2007 12:00am
Israeli ministry wants investors to look abroad

Israeli ministry wants investors to look abroad

Israeli institutions do not invest enough of their assets abroad and the government will seek to implement measures to change this, a senior Finance Ministry official said on Sunday. "The numbers are very small in relation to the rest of the world," Yadin
Published 21 May, 2007 12:00am
Iraq tenders for 30,000 tonnes of rice: US

Iraq tenders for 30,000 tonnes of rice: US

The Iraq Grain Board has issued a tender to buy up to 30,000 tonnes of rice for delivery in June or July, US rice traders said on Sunday. Bids were due May 30 either free-on-board or delivered to the port of Umm Qasr.
Published 21 May, 2007 12:00am
Lawmakers ready trade bills as US and China talk

Lawmakers ready trade bills as US and China talk

US lawmakers frustrated over the mounting trade deficit with China will be looking for concrete action this week when the Bush administration hosts Chinese officials for high-level talks.
Published 21 May, 2007 12:00am
Kuwait pegs dinar to basket of currencies

Kuwait pegs dinar to basket of currencies

Kuwait on Sunday pegged its dinar to a basket of international currencies after more than four years of linking the local currency to the dollar, in a bid to reduce inflationary pressures.
Published 21 May, 2007 12:00am
Prime London property prices at 30-year highs

Prime London property prices at 30-year highs

Prime central London property prices are growing at their fastest in almost 30 years - and at three times the rate of the wider British market, figures show.
Published 21 May, 2007 12:00am
Iran fuel price hike to go ahead

Iran fuel price hike to go ahead

Iran will press ahead with plans to raise the price of heavily subsidised gasoline this week, an official said on Sunday, despite suggestions by some officials that the combined price hike and rationing scheme may be delayed.
Published 21 May, 2007 12:00am
Seoul equities likely to undergo correction

Seoul equities likely to undergo correction

South Korean share prices are likely to undergo a modest correction over the coming week amid lack of leads, both at home and abroad, analysts said on Friday.
Published 21 May, 2007 12:00am
Philippines shares may hit new all-time high

Philippines shares may hit new all-time high

Philippines share prices could hit a new all-time high as the result of the generally peaceful mid-term elections, analysts said Friday. "We expect the market to attempt to reach the all-time high given... the positive sentiment, positive earnings, and he
Published 21 May, 2007 12:00am
Thai stocks may rise on rate cut hope

Thai stocks may rise on rate cut hope

Thai stocks are likely to rise next week amid hopes for an interest rate cut and government stimulus measures aimed at lifting the country's sluggish economy, dealers said.
Published 21 May, 2007 12:00am
Tokyo shares likely to face selling pressure: analysts

Tokyo shares likely to face selling pressure: analysts

Japanese share prices may face selling pressure next week due to worries over the health of the world's second-largest economy after recent weaker-than-expected data, dealers said Friday.
Published 21 May, 2007 12:00am
Dow Jones scales new peaks as merger mania persists

Dow Jones scales new peaks as merger mania persists

The leading Dow Jones Industrial Average stock index scaled fresh record peaks in the past week extending its months-long upward trajectory as a flurry of new mergers boosted Wall Street's optimism.
Published 21 May, 2007 12:00am
Bangladesh interbank rates

Bangladesh interbank rates

Bangladesh Interbank buy/sell rates for the taka against the dollar on Sunday. 69.00/69.00 (previous 69.00/69.00).
Published 21 May, 2007 12:00am
Taiwan shares may continue consolidation mode

Taiwan shares may continue consolidation mode

Taiwan share prices are expected to continue in consolidation mode next week, with investors continuing to look offshore at other much stronger markets, dealers said.
Published 21 May, 2007 12:00am
Hong Kong shares to take cue from possible China move

Hong Kong shares to take cue from possible China move

The outlook for Hong Kong share prices hinges on whether China will make any credit tightening measures to rein in rapid economic and stock market growth, dealers said. They said investors are kept on the sidelines as they expect an interest rate hike fro
Published 21 May, 2007 12:00am
Malaysian shares expected to see volatile trade

Malaysian shares expected to see volatile trade

Malaysian share prices are expected to see volatile trade in the coming week as investors are likely to react quickly to changes in the market, analysts said. "The technical prognosis remains positive but the trading pattern is expected to remain volatile
Published 21 May, 2007 12:00am
Indian shares set to hit record highs

Indian shares set to hit record highs

Indian share prices are set to move upwards towards record highs as interest rate concerns eased after India's inflation fell for a third week in a row, dealers said. They said the markets saw fresh buying momentum mid-week on local fund buying as global
Published 21 May, 2007 12:00am
UK investors eye more results after record week

UK investors eye more results after record week

London's stock market may break new records next week amid more company results and take-over talk, and after the capital's leading shares index hit the best close for mmore than six years on Friday The FTSE 100 finished at 6,640.90 points on Friday, up 7
Published 21 May, 2007 12:00am
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