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Print - 2008-05-17
Maliki offers amnesty

Maliki offers amnesty

Iraqi Prime Minister Nuri al-Maliki, leading an offensive against al Qaeda in the north, offered cash and freedom from prosecution on Friday to fighters who give up their weapons within 10 days.
Published 17 May, 2008 12:00am
Lebanese head to Qatar for crisis talks

Lebanese head to Qatar for crisis talks

Rival Lebanese leaders flew to Qatar on Friday aiming to end a protracted political conflict that has pushed the country to the brink of a new civil war. One of the most influential members of the US-backed ruling coalition, which was dealt a military blo
Published 17 May, 2008 12:00am
EU, Latin American leaders meet on trade and climate

EU, Latin American leaders meet on trade and climate

Political differences loomed over a summit of European and Latin American leaders in Peru on Friday, threatening to undermine their efforts to fight poverty and global warming. Leftist Bolivian President Evo Morales differed with his regional counterparts
Published 17 May, 2008 12:00am
EU concedes Kosovo mission likely to be delayed

EU concedes Kosovo mission likely to be delayed

The EU conceded on Friday that it was unlikely to be able to take over policing in Kosovo from the United Nations in June, confirming widespread expectations that Kosovo's security situation will be unclear for some time.
Published 17 May, 2008 12:00am
Israel firm on refugees after Bush dismays Arabs

Israel firm on refugees after Bush dismays Arabs

Israel ruled out all debate on letting Palestinian refugees return in any peace deal, as US President George W. Bush ended a visit on Friday that left Arabs dismayed by his outspoken support for Israel's "chosen people".
Published 17 May, 2008 12:00am
Rain deepens Myanmar misery; death toll spikes

Rain deepens Myanmar misery; death toll spikes

Torrential rain lashed victims of Cyclone Nargis on Friday as Myanmar's junta admitted more than 130,000 people were dead or missing, putting the disaster on a par with a 1991 cyclone that killed 143,000 in neighbouring Bangladesh.
Published 17 May, 2008 12:00am
US gives food aid to North Korea

US gives food aid to North Korea

The United States said on Friday it would provide 500,000 metric tonnes in food aid to North Korea in a sign of improving cooperation despite their stand-off over Pyongyang's nuclear program. The aid will start next month and be provided over a 12-month p
Published 17 May, 2008 12:00am
US helps China with satellite data on quake

US helps China with satellite data on quake

The United States has provided China with satellite images of earthquake-stricken areas, and will provide two planeloads of relief for quake victims this weekend, the State Department said on Friday. "I think we have provided them some overhead imagery,"
Published 17 May, 2008 12:00am
China buries quake dead as new aftershock hits

China buries quake dead as new aftershock hits

China struggled to bury its dead and help tens of thousands of injured and homeless on Friday when a powerful aftershock brought new havoc four days after an earthquake thought to have killed more than 50,000.
Published 17 May, 2008 12:00am
Osama marks Israel anniversary with combat vow

Osama marks Israel anniversary with combat vow

Osama bin Laden vowed in an audio tape to mark Israel's 60th anniversary to continue to fight the Jewish state and its allies in the West. The al Qaeda leader, who has placed growing emphasis on the Israeli-Palestinian conflict, said it was at the heart o
Published 17 May, 2008 12:00am
Iran embassy staff wounded in Baghdad shooting

Iran embassy staff wounded in Baghdad shooting

Four Iranian embassy staff and their Iraqi driver were wounded when their convoy was shot at in the Iraqi capital, the embassy and Iraqi officials said on Friday. An Iranian embassy spokesman said the embassy staff consisted of two diplomats and two guard
Published 17 May, 2008 12:00am
Shiv Sena renews threat to cricketers

Shiv Sena renews threat to cricketers

Hours before the crucial Indian Premier League (IPL) match between Mumbai Indians and Kolkata Knight Riders (KKR), the Shiv Sena on Friday renewed its attack on cricketers from Pakistan in one of the teams.
Published 17 May, 2008 12:00am
Gaddafi accuses Europeans of killing migrants

Gaddafi accuses Europeans of killing migrants

Libyan leader Muammar Gaddafi has accused European states of killing hundreds of African migrants by deliberately sinking their boats to stop them reaching Europe. "This tragedy is unfolding. A war on the Mediterranean sea is being waged against Africans,
Published 17 May, 2008 12:00am
Film tackles IRA leader Bobby Sands hunger strike

Film tackles IRA leader Bobby Sands hunger strike

The director of a powerful film about the final days of Bobby Sands said he had not made a hero of the IRA prisoner whose death in a 1981 hunger strike made him one of the most prominent symbols of opposition to British rule in Northern Ireland.
Published 17 May, 2008 12:00am
Edwards rules out vice presidential run with Obama

Edwards rules out vice presidential run with Obama

Former presidential contender John Edwards said on Friday he would not be Democratic front-runner Barack Obama's running mate, but did not rule out taking a role in an Obama administration. "Won't happen," Edwards told NBC's "Today" program when asked if
Published 17 May, 2008 12:00am
FTSE rises to four-month high

FTSE rises to four-month high

Britain's benchmark index rose 0.8 percent on Friday to hit its highest closing level in four months as surging crude prices pumped oil shares higher, while bid activity powered British Energy. The FTSE 100 closed up 52.5 points at 6,304.3, but well off i
Published 17 May, 2008 12:00am
Bush policies strengthened Iran and Hamas: Obama

Bush policies strengthened Iran and Hamas: Obama

Democratic presidential front-runner Barack Obama said on Friday President George W. Bush's "failed policies" had strengthened US enemies like Iran and Hamas. Responding to Bush's comment on Thursday that those who want to talk to Iran were like Nazi appe
Published 17 May, 2008 12:00am
South Asia offers challenges, opportunities: Boucher

South Asia offers challenges, opportunities: Boucher

South Asia is part of a world of difficult challenges, but great opportunities as well, says a senior US diplomat. The region is confronted with poverty, disease, terrorism, drug trafficking, weak governance, corruption and natural disasters, says Richard
Published 17 May, 2008 12:00am
Dollar falls versus euro in London

Dollar falls versus euro in London

The dollar drifted down versus the euro on Friday, pressured by the contrast between Thursday's weak US jobs and manufacturing data and forecast-beating growth figures from the euro zone. The US data injected a hint of doubt into market expectations that
Published 17 May, 2008 12:00am
Pound falls

Pound falls

The pound fell versus the euro on Friday as investors were worried by the combination of high inflation and slowing growth in the UK economy. Sterling has been on the back foot this week after the Bank of England delivered a bearish prognosis on British e
Published 17 May, 2008 12:00am
Indian rupee remains down

Indian rupee remains down

The Indian rupee hit a 13-month low near 43 per dollar on Friday after data showed inflation at a 3-year high, but recovered smartly to end stronger as exporters decided it was good time to cash in dollar holdings. The partially convertible rupee ended at
Published 17 May, 2008 12:00am
European credit spreads stay narrow

European credit spreads stay narrow

European credit spreads tightened on Friday, buoyed by European equities, although they pared some of the move after US consumer sentiment data from the University of Michigan came in weaker than expected.
Published 17 May, 2008 12:00am
European credit spreads stay narrow

European credit spreads stay narrow

European credit spreads tightened on Friday, buoyed by European equities, although they pared some of the move after US consumer sentiment data from the University of Michigan came in weaker than expected.
Published 17 May, 2008 12:00am
Friday's midday trade: market falls on record oil price

Friday's midday trade: market falls on record oil price

US stocks fell on Friday after the price of oil hit a record and consumer sentiment data came in surprisingly weak, reviving concerns over spending. The unease about the state of the consumer outweighed earlier optimism following a surprise rise in US hou
Published 17 May, 2008 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.5 percent higher on Friday led by industrial, oil and gas and plantation stocks following Wall Street's overnight gains, dealers said. The Kuala Lumpur Composite Index was up 6.52 points at 1,300.67 on volume of 568 million
Published 17 May, 2008 12:00am
Asian bond spreads tighten

Asian bond spreads tighten

Asian bond spreads tightened on Friday amid growing expectations the Federal Reserve will not raise US interest rates yet due to signs of tamer-than-expected inflation in the world's largest economy. But Pakistan's credit default swaps (CDS), insurance-li
Published 17 May, 2008 12:00am
Asian bond spreads tighten

Asian bond spreads tighten

Asian bond spreads tightened on Friday amid growing expectations the Federal Reserve will not raise US interest rates yet due to signs of tamer-than-expected inflation in the world's largest economy. But Pakistan's credit default swaps (CDS), insurance-li
Published 17 May, 2008 12:00am
China stock index slips

China stock index slips

China's key stock index slipped 0.36 percent on Friday in light trade, weighed down by Bank of Communications as 13.2 billion of its A shares emerged from a lock-up period while shares of firms in earthquake-hit Sichuan Province were mixed.
Published 17 May, 2008 12:00am
Technical education key to progress, prosperity: Gondal

Technical education key to progress, prosperity: Gondal

Federal Minister for Narcotics Control, Nazar Muhammad Gondal has said that progress and prosperity of any nation depends on technical education and training of the young generation. He said this while addressing, as chief guest, in a big gathering of stu
Published 17 May, 2008 12:00am
Malaysia to open trade office in Karachi

Malaysia to open trade office in Karachi

Malaysia has decided to open its trade office in Karachi, Consul General of Malaysia, Mohammed Khalid Abdul Razaq informed business community on Friday. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said that the initial arr
Published 17 May, 2008 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 17 May, 2008 12:00am
Malaysia to open trade office in Karachi

Malaysia to open trade office in Karachi

Malaysia has decided to open its trade office in Karachi, Consul General of Malaysia, Mohammed Khalid Abdul Razaq informed business community on Friday. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said that the initial arr
Published 17 May, 2008 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 May, 2008 12:00am
Malaysia to open trade office in Karachi

Malaysia to open trade office in Karachi

Malaysia has decided to open its trade office in Karachi, Consul General of Malaysia, Mohammed Khalid Abdul Razaq informed business community on Friday. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said that the initial arr
Published 17 May, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 17 May, 2008 12:00am
UN food chief urges aid for agriculture

UN food chief urges aid for agriculture

The head of the UN food agency urged Japan and other rich nations to give priority to aid for agriculture to solve the current global food crisis. Japan has pledged to put the food crisis on the agenda when it hosts the annual summit of the Group of Eight
Published 17 May, 2008 12:00am
UN food chief urges aid for agriculture

UN food chief urges aid for agriculture

The head of the UN food agency urged Japan and other rich nations to give priority to aid for agriculture to solve the current global food crisis. Japan has pledged to put the food crisis on the agenda when it hosts the annual summit of the Group of Eight
Published 17 May, 2008 12:00am
UN food chief urges aid for agriculture

UN food chief urges aid for agriculture

The head of the UN food agency urged Japan and other rich nations to give priority to aid for agriculture to solve the current global food crisis. Japan has pledged to put the food crisis on the agenda when it hosts the annual summit of the Group of Eight
Published 17 May, 2008 12:00am
S&P affirms Mobilink rating at 'B+' with negative outlook

S&P affirms Mobilink rating at 'B+' with negative outlook

Standard & Poor's Ratings Services on Friday affirmed its corporate credit rating Pakistan Mobile Communications Limited. (Mobilink) at "B+" with a negative outlook. At the same time, Standard & Poor's affirmed its issue rating on Mobilink's senior unsecu
Published 17 May, 2008 12:00am
S&P affirms Mobilink rating at 'B+' with negative outlook

S&P affirms Mobilink rating at 'B+' with negative outlook

Standard & Poor's Ratings Services on Friday affirmed its corporate credit rating Pakistan Mobile Communications Limited. (Mobilink) at "B+" with a negative outlook. At the same time, Standard & Poor's affirmed its issue rating on Mobilink's senior unsecu
Published 17 May, 2008 12:00am
S&P affirms Mobilink rating at ''B+'' with negative outlook

S&P affirms Mobilink rating at ''B+'' with negative outlook

Standard & Poor''s Ratings Services on Friday affirmed its corporate credit rating Pakistan Mobile Communications Limited. (Mobilink) at "B+" with a negative outlook. At the same time, Standard & Poor''s affirmed its issue rating on Mobilink''s senior uns
Published 17 May, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (May 16, 2008).

Published 17 May, 2008 12:00am
S&P affirms Mobilink rating at ''''B+'''' with negative outlook

S&P affirms Mobilink rating at ''''B+'''' with negative outlook

Standard & Poor''''s Ratings Services on Friday affirmed its corporate credit rating Pakistan Mobile Communications Limited. (Mobilink) at "B+" with a negative outlook. At the same time, Standard & Poor''''s affirmed its issue rating on Mobilink''''s seni
Published 17 May, 2008 12:00am
Ten detained in Europe for ties to Muslim organisations

Ten detained in Europe for ties to Muslim organisations

Ten suspects were detained on Friday in France, Germany and the Netherlands, accused of funding Islamic organisations in Uzbekistan, officials said. A French source close to the case said eight suspects of Turkish origin were lifted in a suburb of the eas
Published 17 May, 2008 12:00am
FDI in telecom sector drops to $156.6 million in third quarter

FDI in telecom sector drops to $156.6 million in third quarter

The foreign direct investment (FDI) in telecom sector has declined during the first nine months of the current fiscal with dismal investment figures, suggesting it may hardly go beyond half of the total investment made during last year, sources told Bu
Published 17 May, 2008 12:00am
THE RUPEE: parity with dollar stays put

THE RUPEE: parity with dollar stays put

The rupee held its overnight levels against dollar in the interbank market on Friday for buying and selling at 68.90 and 69.10, currency experts said. The demand for dollars is still high due to importers' demand as exporters were still on the sidelines a
Published 17 May, 2008 12:00am
FDI in telecom sector drops to $156.6 million in third quarter

FDI in telecom sector drops to $156.6 million in third quarter

The foreign direct investment (FDI) in telecom sector has declined during the first nine months of the current fiscal with dismal investment figures, suggesting it may hardly go beyond half of the total investment made during last year, sources told Bu
Published 17 May, 2008 12:00am
THE RUPEE: parity with dollar stays put

THE RUPEE: parity with dollar stays put

The rupee held its overnight levels against dollar in the interbank market on Friday for buying and selling at 68.90 and 69.10, currency experts said. The demand for dollars is still high due to importers' demand as exporters were still on the sidelines a
Published 17 May, 2008 12:00am
FDI in telecom sector drops to $156.6 million in third quarter

FDI in telecom sector drops to $156.6 million in third quarter

The foreign direct investment (FDI) in telecom sector has declined during the first nine months of the current fiscal with dismal investment figures, suggesting it may hardly go beyond half of the total investment made during last year, sources told Bu
Published 17 May, 2008 12:00am
Pakistan elected to Commonwealth executive body

Pakistan elected to Commonwealth executive body

Two days after being readmitted to the Commonwealth, Pakistan was elected to the 17-member Executive Committee of the organisation. The 53-member Board of Governors of the Commonwealth during its annual meeting on Thursday elected Pakistan as a regional r
Published 17 May, 2008 12:00am
Pakistan elected to Commonwealth executive body

Pakistan elected to Commonwealth executive body

Two days after being readmitted to the Commonwealth, Pakistan was elected to the 17-member Executive Committee of the organisation. The 53-member Board of Governors of the Commonwealth during its annual meeting on Thursday elected Pakistan as a regional r
Published 17 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 16, 2008).

Published 17 May, 2008 12:00am
Forces start withdrawing from Spin Kagzai, Kot Kai areas

Forces start withdrawing from Spin Kagzai, Kot Kai areas

One security personnel embraced martyrdom when a land-mine blasted during withdrawal of the security forces from Spin Kagzai and Kot Kai areas of south Waziristan Agency on Friday, the political authorities confirmed withdrawal of paramilitary forces from
Published 17 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 16, 2008).

Published 17 May, 2008 12:00am
Forces start withdrawing from Spin Kagzai, Kot Kai areas

Forces start withdrawing from Spin Kagzai, Kot Kai areas

One security personnel embraced martyrdom when a land-mine blasted during withdrawal of the security forces from Spin Kagzai and Kot Kai areas of south Waziristan Agency on Friday, the political authorities confirmed withdrawal of paramilitary forces from
Published 17 May, 2008 12:00am
'Coalition in Afghanistan launched missile strike'

'Coalition in Afghanistan launched missile strike'

Pakistan on Friday said that coalition forces in Afghanistan earlier this week launched a missile strike into Pakistan's tribal region, killing 14 people. "We confirm that the two missiles were fired from a drone which belongs to coalition forces deployed
Published 17 May, 2008 12:00am
'Coalition in Afghanistan launched missile strike'

'Coalition in Afghanistan launched missile strike'

Pakistan on Friday said that coalition forces in Afghanistan earlier this week launched a missile strike into Pakistan's tribal region, killing 14 people. "We confirm that the two missiles were fired from a drone which belongs to coalition forces deployed
Published 17 May, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 16, 2008).

Published 17 May, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (May 16, 2008) and for Saturday (May 17, 2008).
Published 17 May, 2008 12:00am
ECB President defends fight against inflation

ECB President defends fight against inflation

European Central Bank president Jean-Claude Trichet defended on Friday the ECB's often criticised focus on fighting inflation before all else, arguing this stance underpinned growth and jobs. "Price stability is a necessary condition to sustainable econom
Published 17 May, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 16, 2008).

Published 17 May, 2008 12:00am
ECB President defends fight against inflation

ECB President defends fight against inflation

European Central Bank president Jean-Claude Trichet defended on Friday the ECB's often criticised focus on fighting inflation before all else, arguing this stance underpinned growth and jobs. "Price stability is a necessary condition to sustainable econom
Published 17 May, 2008 12:00am
ECB President defends fight against inflation

ECB President defends fight against inflation

European Central Bank president Jean-Claude Trichet defended on Friday the ECB''s often criticised focus on fighting inflation before all else, arguing this stance underpinned growth and jobs. "Price stability is a necessary condition to sustainable econo
Published 17 May, 2008 12:00am
Committee formed to make police politically neutral

Committee formed to make police politically neutral

The National Public Safety Commission has constituted a special committee under Director General of Federal Investigation Agency to make police politically neutral, more professional and highly accountable. For achieving the task the committee will sugges
Published 17 May, 2008 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 17 May, 2008 12:00am
13 suspects arrested in robbers' burning case

13 suspects arrested in robbers' burning case

The city police on Friday arrested 13 suspects allegedly involved in the burning case of three suspected robbers, took place two days back at Ranchor Line area. The police detained the suspects after lodging the FIR (No 72/08) of the incident against unkn
Published 17 May, 2008 12:00am
The Weather

The Weather

The weather report on Friday (May 16, 2008) and the forecast for Saturday (May 17, 2008).
Published 17 May, 2008 12:00am
'Pak-US talks should be based on market share, security equally'

'Pak-US talks should be based on market share, security equally'

Pakistan-US ties have been only about security but now it needs to further towards strategic partnership, the incoming Ambassador to the United States, Hussain Haqqani emphasised in an interview with The Washington Post. The famous US newspaper described
Published 17 May, 2008 12:00am
Gulf Centre fire controlled

Gulf Centre fire controlled

Fire fighters controlled fire in the basement of a shopping plaza Gulf Center within half an hour, Fire Brigade sources said on Friday. An official of Fire Brigade Department said that fire tenders were now cooling down the fire, which erupted in the sub-
Published 17 May, 2008 12:00am
Banks not extending export refinance: Plgmea chief

Banks not extending export refinance: Plgmea chief

Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) Chairman Fawad Ijaz Khan has stated in a press release that commercial banks are no longer extending subsidised refinance to leather garment exporters.
Published 17 May, 2008 12:00am
Ufone signs pact with Teradata

Ufone signs pact with Teradata

Pakistan's leading GSM service provider, Ufone, has signed an agreement with Teradata to expand its current Data Warehouse with state-of-the-art 5550H nodes from Teradata. Ufone is the one of the leading telecommunications service provider in Pakistan wit
Published 17 May, 2008 12:00am
Sidebottom, openers help England seize control

Sidebottom, openers help England seize control

Andrew Strauss and Alastair Cook shared a sprightly unbeaten opening partnership to swing the first Test in England's favour against New Zealand at Lord's on Friday. When bad light stopped play for the fifth and final time on the second day, the pair had
Published 17 May, 2008 12:00am
Nasim withdraws law suit against Shoaib

Nasim withdraws law suit against Shoaib

Pakistan Cricket Board (PCB) Chairman Dr Nasim Ashraf has formally withdrawn a Rs 220 million law suit filed against speed-merchant Shoaib Akhtar.
Published 17 May, 2008 12:00am
PML-N not consulted on Taseer's appointment: Nawaz

PML-N not consulted on Taseer's appointment: Nawaz

Former Prime Minister Mian Muhammad Nawaz Sharif on Friday said that his party leadership was not taken into confidence for the appointment of Salman Taseer as new Punjab governor.
Published 17 May, 2008 12:00am
Need to implement pro-people policies stressed

Need to implement pro-people policies stressed

There is a dire need to articulate and implement pro-people policies in Pakistan, promoting teaching the subjects on peace, violence and development in educational institutions.
Published 17 May, 2008 12:00am
Meeting to discuss under-invoicing of goods from China

Meeting to discuss under-invoicing of goods from China

An important meeting will be held here next month to discuss the issue of under-invoicing of imports from China, said Chinese Economic and Commercial Consular Zhou Zhen Cheng. Addressing a meeting during his visit to Faisalabad Dry Port, he said China-bas
Published 17 May, 2008 12:00am
First meeting of Pak-Canada JWG held

First meeting of Pak-Canada JWG held

The first meeting of the Pakistan-Canada Joint Working Group (JWG) focused on enhancement of bilateral cooperation in trade and economic relations as well as social sector development, says a press release issued by ministry of foreign affairs here on Fri
Published 17 May, 2008 12:00am
Three hurt in gas cylinder blast

Three hurt in gas cylinder blast

Three people were injured seriously in a blast that occurred in North Waziristan capital of Miran Shah. According to private channel a gas cylinder at a bus stop in Miran Shah exploded with a bang injuring three people who were shifted to Agency headquart
Published 17 May, 2008 12:00am
President lauds services of Riaz Khan, Akram Sheikh

President lauds services of Riaz Khan, Akram Sheikh

President Pervez Musharraf Friday hosted a reception in honour of outgoing Foreign Secretary Riaz Ahmed Khan and Chairman Planning Commission Dr Muhammad Akram Sheikh. The President lauded their professionalism, dedication to duty and service to Pakistan
Published 17 May, 2008 12:00am
S&P lowers rating on Azgard Nine

S&P lowers rating on Azgard Nine

Standard & Poor's Ratings Services said on Friday that it had lowered its corporate credit rating on Azgard Nine Ltd to 'B' from 'B+'. The outlook is negative.
Published 17 May, 2008 12:00am
S&P lowers rating on Azgard Nine

S&P lowers rating on Azgard Nine

Standard & Poor's Ratings Services said on Friday that it had lowered its corporate credit rating on Azgard Nine Ltd to 'B' from 'B+'. The outlook is negative.
Published 17 May, 2008 12:00am