News Archives for Print - 2008-07-28

Tightening or no tightening pressure on rupee and rising trend of inflation to persist: CMKA

Any economy, which is heavily dependent on borrowing, foreign assistance and sell-offs, cannot afford the luxury bailouts or subsidies. It is important to understand that such concessions are not possible without printing excessive money.

Published 28 Jul, 2008 12:00am

Tightening or no tightening pressure on rupee and rising trend of inflation to persist: CMKA

Any economy, which is heavily dependent on borrowing, foreign assistance and sell-offs, cannot afford the luxury bailouts or subsidies. It is important to understand that such concessions are not possible without printing excessive money.

Published 28 Jul, 2008 12:00am

SBP for ''draconian steps'' to put economy back on track

State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar has urged the federal government to take ''draconian measures'' to bring the country''s derailed economy back on track, including withdrawal of subsidy on POL prices, well-placed sources told Bus

Published 28 Jul, 2008 12:00am

SBP for 'draconian steps' to put economy back on track

State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar has urged the federal government to take 'draconian measures' to bring the country's derailed economy back on track, including withdrawal of subsidy on POL prices, well-placed sources told Busine
Published 28 Jul, 2008 12:00am

THE RUPEE: rates move both ways

The rupee resisted sharp fall against dollar while it recovered its lost ground in terms of euro during the week ended on July 26, 2008. The rupee shed 28 paisa for buying at 71.18 and 24 paisa for selling at 71.22 against dollar on the interbank market.
Published 28 Jul, 2008 12:00am

ISI will remain under Prime Minister

An official spokesman clarified on Sunday that 'ISI will continue to perform its functions under the Prime Minister' and the notification regarding control of ISI is being 'misinterpreted'." The spokesman said: "The said notification only re-emphasises mo
Published 28 Jul, 2008 12:00am

Let rupee weaken on kerb for causes celebres: businessmen on tenterhooks waiting for policy

Industrialists, traders and stock market brokers being the traditional borrowers from the banking system are once again on tenterhooks or very anxious and excited waiting for further monetary tightening that the State Bank of Pakistan will be announcing t
Published 28 Jul, 2008 12:00am

One dead in shooting at church

One person was killed and several wounded on Sunday when a man armed with a shotgun opened fire in a church in Knoxville, Tennessee, local television reported.
Published 28 Jul, 2008 12:00am

Five drown at Hawkesbay beach

Five picnickers including a girl drowned to death in separate incidents at the sea near Hawkesbay beach here, police and hospital sources said. Police sources told APP that total five picnickers drowned to death at sea, where they had gone with their fami
Published 28 Jul, 2008 12:00am

Several people killed in Istanbul explosion

A double explosion blamed on a gas leak has left several people dead and many wounded late Sunday in Istanbul, the television station CNN-Turk reported. A correspondent for the TV station reported that he had seen at least five dead bodies.
Published 28 Jul, 2008 12:00am

''Control of Thar coal will remain with Sindh government''

The control of coal will remain with the provincial government. An announcement to this effect was made in an official statement issued here on Sunday.
Published 28 Jul, 2008 12:00am

'Control of Thar coal will remain with Sindh government'

The control of coal will remain with the provincial government. An announcement to this effect was made in an official statement issued here on Sunday.
Published 28 Jul, 2008 12:00am

Prime Minister arrives in US

Prime Minister Syed Yousuf Raza Gilani have reached Washington on late Sunday night on a four-day official visit to US, Aaj TV reported. According to the channel, US Assistant Secretary of State Richard Boucher, Foreign Minister Shah Mehmood Qureshi and P
Published 28 Jul, 2008 12:00am

KSE-100 index may gain 37 percent in fiscal year 2009

Despite witnessing a heavy fall of 30 per cent in the last three months, the benchmark KSE-100 index is expected to generate a return of 37 per cent in the current fiscal year FY09, analysts believe.
Published 28 Jul, 2008 12:00am

EU and Latin America close to banana trade deal

European and Latin American negotiators closed in on a deal to end a quarter of a century of "banana wars" as part of mammoth trade talks here, sources close to the negotiations said Sunday.
Published 28 Jul, 2008 12:00am

Bank of Punjab scam: Gilani not happy with State Bank

Prime Minister Syed Yousaf Raza Gilani criticised the State Bank of Pakistan (SBP) for its failure to take timely measures to avert the financial scam in the Bank of Punjab (BoP).
Published 28 Jul, 2008 12:00am

The Weather

The weather report on Sunday (July 27, 2008) and the forecast for Monday (July 28, 2008).
Published 28 Jul, 2008 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (JANUARY TO JUNE 2008)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 28 Jul, 2008 12:00am

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (July 21 to July 26, 2008).

Published 28 Jul, 2008 12:00am

Mutual Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices for Monday (28 July 2008).

Published 28 Jul, 2008 12:00am

Alico AIG Life American Life Insurance Company (Pakistan) Limited

Alico AIG Life has issued Weekly Unit Prices.

Published 28 Jul, 2008 12:00am

Foods:-Nestle Pakistan Limited - Analysis of Financial Statements Financial Year 2003 - Financial Year 2007

Nestle Pakistan Limited (NPL), formerly known as Nestle Milkpak Limited, is a subsidiary of Nestle SA, a company of Swiss origin headquartered in Vevey, Switzerland. It is listed on Karachi and Lahore stock exchanges. For the 5 years in a row, the company
Published 28 Jul, 2008 12:00am

KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (July 27, 2008).
Published 28 Jul, 2008 12:00am

'Dinosaur eel' points to body armour of the future

An extraordinary fish that inhabits muddy pools in West Africa and whose lineage can be traced back 96 million years could be the model for light, bomb-proof body armour for the soldiers of the future.
Published 28 Jul, 2008 12:00am

Aaj TV - Monday's schedule

All timings are in PST (Pakistan Standard Time).

Published 28 Jul, 2008 12:00am

Colombo cracks down on stray dogs ahead of South Asian meet

Sri Lanka is rounding up dozens of stray dogs ahead of a major South Asian summit, which will also see the island's largest deployment of police dogs to sniff out explosives, officials said Sunday.
Published 28 Jul, 2008 12:00am

UK might have misled lawmakers over Iraq torture

British parliamentarians said on Sunday they might have been misled by the government and a senior military figure over the use of banned interrogation techniques by British troops in Iraq.
Published 28 Jul, 2008 12:00am

"Bitter" family feud rifts Mandela family: reports

Nelson Mandela, South Africa's national hero and anti-Apartheid fighter, has a dispute with his own family. Johannesburg's The Sunday Times reported Sunday on its front page about a "bitter" feud which is dividing the family of the Nobel Peace Prize laure
Published 28 Jul, 2008 12:00am

Cambodian ruling party claims election victory

The ruling Cambodian People's Party (CPP) claimed an expected victory in Sunday's general election, giving another five years in power to ex-Khmer Rouge guerrilla Hun Sen, prime minister for the last 23 years.
Published 28 Jul, 2008 12:00am

Mbeki says Zimbabwe crisis talks continue

Zimbabwe's ruling party and opposition factions are continuing with negotiations to resolve the country's political crisis, South African President Thabo Mbeki said on Sunday.
Published 28 Jul, 2008 12:00am

Taiwan battens down against oncoming typhoon

Workers mounted sandbag barriers and fishing boats returned to port as Taiwan braced for a pounding from Typhoon Fung-wong, which forecasters said was picking up momentum.
Published 28 Jul, 2008 12:00am

Thailand wants to keep UN out of Cambodian row

New Thai foreign minister Tej Bunnag said on Sunday he would try his best to resolve a heated dispute with Cambodia over a 900-year-old temple, urging his counterpart not to take the issue to the United Nations.
Published 28 Jul, 2008 12:00am

New UN special envoy flies in to prepare Cyprus peace push

Newly-appointed UN special envoy Alexander Downer arrived on Sunday for contacts with rival Cypriot leaders ahead of a September process aimed at reunifying the Mediterranean island.
Published 28 Jul, 2008 12:00am

SPLM's Kiir to run in Sudan presidential polls

Sudan's former southern rebels said on Sunday their leader would run for the presidency in elections due next year under a landmark 2005 peace deal which ended Africa's longest civil war.
Published 28 Jul, 2008 12:00am

Floods kill 13 in Ukraine, four in Romania

Floods described by a senior government official as the worst in a century have killed 13 people in western Ukraine and four in neighbouring Romania, officials said on Sunday.
Published 28 Jul, 2008 12:00am

Iran hangs 29 drug traffickers, murderers

Iran on Sunday hanged 29 men convicted of offences including drug trafficking, murder and rape in the largest mass execution in years as the country says it is fighting increasing crime. The hangings were carried out inside the notorious Tehran's Evin pri
Published 28 Jul, 2008 12:00am

Cycling: Sastre crowned Tour de France champion

Spain's Carlos Sastre wrapped up his maiden Tour de France triumph here on Sunday following the final stage of the race into Paris. Sastre, a 33-year-old climbing specialist who rides for the CSC team, became the eighth Spaniard to win the race's yellow j
Published 28 Jul, 2008 12:00am

Olympics harder than World Cup, says Brazil's Dunga

Securing a first Olympic title will be a tougher job than the World Cup, Brazil's coach Dunga said Sunday, and insisted his young team was up to the task of football gold at the Beijing Games. While Brazil have held the World Cup five times they have neve
Published 28 Jul, 2008 12:00am

Sri Lanka captain backs review trial

Sri Lanka captain Mahela Jayawardene has backed a new experimental rule allowing players to seek a second opinion on umpiring decisions, saying it has succeeded in cutting down mistakes. Sri Lanka benefited four times under the rule during the opening Tes
Published 28 Jul, 2008 12:00am

Federer focus shifts to keeping top spot in Cincinnati

Roger Federer moves into the ATP Masters Series event starting here Monday downshifting to survival mode as Rafael Nadal chips away at his world number one ranking.
Published 28 Jul, 2008 12:00am

Lack of finances is no excuse, insists Bayern's Klinsmann

The lack of financial fire-power felt by Germany's top clubs compared to their European neighbours is no excuse for failure in the Champions League, insists Bayern Munich coach Jurgen Klinsmann.
Published 28 Jul, 2008 12:00am

Henderson the hero as Middlesex seal Twenty20 triumph

South Africa's Tyron (attn: correct) Henderson held his nerve as Middlesex beat Kent by three runs in the final of English county cricket's Twenty20 Cup at the Rose Bowl here Saturday to set themselves up for a cash bonanza.
Published 28 Jul, 2008 12:00am

Golf: Alfredsson clinches third Evian Masters title

Sweden's Helen Alfredsson, who won the inaugural title in 1994, became the first three-time winner of the Evian Masters on Sunday when she came out top in a three-way sudden-death play-off.
Published 28 Jul, 2008 12:00am

Hamilton does not need Kovalainen help: Dennis

McLaren boss Ron Dennis has rebuffed former champion Jackie Stewart for suggesting that Heikki Kovalainen must do more to help team mate Lewis Hamilton win the Formula One title.
Published 28 Jul, 2008 12:00am

Nadal juggernaut out to extend Kiefer title drought

Wimbledon champion Rafael Nadal will face Nicolas Kiefer for the third time in four months in the Toronto Masters final on Sunday as the unstoppable Spaniard aims for a third Masters title of 2008.
Published 28 Jul, 2008 12:00am

2015 World Cup must have new host

The 2015 World Cup must be held outside a rugby union stronghold if the sport is serious about becoming a truly global game and breaking out of its current "ghetto", according to the contents of a new report seen by AFP.
Published 28 Jul, 2008 12:00am

FIA boss plans to sue European media over orgy case

Motor racing chief Max Mosley says he is considering taking libel and legal action against media outlets across Europe over reports of a sado-masochistic orgy he took part in.
Published 28 Jul, 2008 12:00am

2008 mobile data sales seen over $200 billion

Global revenues from mobile data services are seen exceeding 200 billion dollars this year, up from 157 billion dollars in 2007, driven by the expansion of advanced networks and popular Web-browsing devices like Apple's iPhone.
Published 28 Jul, 2008 12:00am

Hackers get hold of critical Internet flaw

Internet security researchers on Thursday warned that hackers have caught on to a "critical" flaw that lets them control traffic on the Internet.
Published 28 Jul, 2008 12:00am

UK Internet piracy deal to target parents

The parents of thousands of British teenagers illegally downloading music and films will be sent warning letters under a deal struck between Internet providers and the entertainment industry. Six Internet service companies (ISPs) have agreed the voluntary
Published 28 Jul, 2008 12:00am

Facebook expands winning open platform formula

Facebook founder Mark Zuckerberg stepped onstage on Wednesday like a social-networking evangelist, painting a vision of an Internet future with the website in its soul.
Published 28 Jul, 2008 12:00am

Internet television service Joost enters China

Internet television service provider Joost said it launched a Chinese service Wednesday with local portal TOM Online to tap the world's largest online market. The company has also set up a joint venture with Hong Kong-listed TOM Group, parent of TOM Onlin
Published 28 Jul, 2008 12:00am

MySpace joins shared identity service OpenID

News Corp's MySpace Internet social network will join the OpenID alliance to begin letting its users take their online identity to other sites and social networks without having to register again.
Published 28 Jul, 2008 12:00am

Google launches rival to Wikipedia

Google has launched its own version of communally constructed online encyclopedia Wikipedia, which consistently ranks among the most visited websites in the world. The Internet search powerhouse went live late on Wednesday with a free service dubbed "Knol
Published 28 Jul, 2008 12:00am

China's Web users top 253 million

China's online population, already the world's largest, has swelled to 253 million, an official report said, driven by news events such as natural disasters and the Beijing Olympics.
Published 28 Jul, 2008 12:00am

Web video slowly creeps up on TV in Europe: Jupiter

More than one in four Europeans regularly watches online video on sites such as Google's YouTube but the medium has a long way to go to catch up with regular TV, according to Internet research firm Jupiter.
Published 28 Jul, 2008 12:00am

Virgin Media targets 200MB broadband by 2012

British cable group Virgin Media plans to offer broadband speeds of up to 200 megabits per second by 2012 to deliver online video downloading and interactive gaming, its chief technology officer said. The average UK broadband download speed is currently a
Published 28 Jul, 2008 12:00am

China's mobile users top 600 million

The number of mobile users in China, the world's biggest cellphone market, now tops 600 million, the government said, as subscribers increasingly abandon fixed lines. Mobile phone users in the country increased to 601 million at the end of June, up by 8.6
Published 28 Jul, 2008 12:00am

Comcast poised to punish for blocking Internet traffic

An agency official says a majority of members of the Federal Communications Commission have cast votes in favour of punishing Comcast Corp for blocking subscribers' Internet traffic.
Published 28 Jul, 2008 12:00am

Nintendo and Fujifilm start Wii online photo service

The Nintendo Wii just got a photogenic makeover. Nintendo said on Wednesday that it would offer new online photo services together with Fujifilm Holdings Corp, enabling users to upload and print photos via the Internet.
Published 28 Jul, 2008 12:00am

Microsoft to expand Facebook ad pact

Microsoft Corp will announce plans to expand its relationship with online social network Facebook to provide web search and search advertising, a source familiar with the matter said on Thursday.
Published 28 Jul, 2008 12:00am

Mexico's Telmex ready for Internet-based TV

Mexico's top fixed-line phone operator, Telmex, is ready to launch Internet-based television and is just waiting for the government's green light to launch the new service, key to boosting lukewarm results.
Published 28 Jul, 2008 12:00am

In Short: Intel to make smarter chips for range of devices

US technology bellwether Intel Corp on Thursday unveiled plans to build small, Internet savvy computer chips to be used in a variety of ways ranging from industrial robotics to small consumer devices.
Published 28 Jul, 2008 12:00am

Wall Street's big bet on oil, bank shares falls apart

The big momentum trade of 2008 is unwinding fast, helping to push battered banking shares upward while adding downward pressure to tumbling oil prices. The trade, which bet energy prices would go higher and bank stocks would crater, has created huge volat
Published 28 Jul, 2008 12:00am

Cameroon targets $10 billion mines Investment

Cameroon is luring a flood of new mining investors who it hopes will invest over $10 billion and create over 27,000 jobs in the central African nation over the next few years, a top mines ministry official said.
Published 28 Jul, 2008 12:00am

Alcon second quarter profit rises 26 percent

Alcon Inc, which makes OPTI-FREE contact lens solution, reported a 26 percent jump in second-quarter net income on July 23, driven by increased sales and foreign exchange gains. Net profit rose to $566.4 million, or $1.88 per share, from $448.4 million, o
Published 28 Jul, 2008 12:00am

Chartered Semiconductor returns to profit

Chartered Semiconductor, one of the world's biggest makers of custom-built microchips, on July 25 said it returned to profitability in the second quarter but forecast a net loss for the next three months. Net income was 43.4 million US dollars, compared w
Published 28 Jul, 2008 12:00am

Federal-Mogul has $1.3 billion or possible deals

US auto parts maker Federal-Mogul Corp has $1.3 billion available for acquisitions that could include companies with technology pertaining to electric cars and fuel economy, Chief Executive Jose Maria Alapont said on July 25.
Published 28 Jul, 2008 12:00am

LUKOIL seeks more Venezuela business

Russian oil major LUKOIL is in talks to refine Venezuelan crude at its new Italian refining venture and seeks more projects with the South American country, an executive said.
Published 28 Jul, 2008 12:00am

Doha Bank defers $1 billion Islamic bond plan

Qatar's Doha Bank has put on hold a plan to sell a $1 billion global Islamic bond to finance investments in renewable energy because of poor funding market conditions, its chief executive said on July 25.
Published 28 Jul, 2008 12:00am

Debt crisis spreads to credit cards

Even as Washington Mutual Inc lost billions of dollars from risky mortgages, the largest US savings and loan could rely on its credit card business to turn a profit. No longer. The thrift's $175 million second-quarter loss from its card unit stemmed from
Published 28 Jul, 2008 12:00am

Dubai's Damas plans to raise gold factory output

Dubai jewellery group Damas International Ltd said on July 24 it plans a 50 percent output capacity hike at a gold factory it owns jointly with Emaar Industries and Investments by end 2009. The 1 billion dirham ($272.3 million) factory in Dubai, a growing
Published 28 Jul, 2008 12:00am

Mazda may avoid 2008 US sales decline

Mazda Motor Corp has a good chance of avoiding a decline in its US sales this year despite a sharp downturn in the market, James O'Sullivan, who heads Mazda's North American operations, said on July 23.
Published 28 Jul, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 15	277.70
USD PKR Interbank Buying / Nov 15	277.50
USD to Japanese Yen / Nov 15	154.30
USD to Swiss Franc / Nov 15	0.89
Pound Sterling to USD / Nov 15	1.26
Euro to USD / Nov 15	1.05

Stock	Volume
India Sensex / Nov 14	77,580.31
S&P 500 / Nov 15	5,870.62
Tokyo Nikkei / Nov 15	38,642.91
Nasdaq / Nov 15	18,680.12
Hang Seng / Nov 15	19,426.34
FTSE 100 / Nov 15	8,063.61
Dow Jones / Nov 15	43,444.99
Germany DAX 30 / Nov 15	19,210.81

Item	Value
Crude Oil USD/Barrel / Nov 15	67.02
Gold 10 Grams PKR / Nov 15	233,371.60
Gold Spot USD/Ounce / Nov 15	2,563.25
Cotton US¢/pound / Nov 15	68.91
Karachi Cotton PKR/37.32 KG / Nov 16	18,085
Petrol/Litre / Nov 17	248.38

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▼ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▼ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▼ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▲ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▲ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▲ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 17 Worldcall Telecom Limited(WTL)	77,999,077 ▲ 0.00
Fauji Foods Ltd / Nov 17 Fauji Foods Limited(FFL)	70,721,702 ▲ 0.00
Hascol Petrol / Nov 17 Hascol Petroleum Limited(HASCOL)	55,501,231 ▲ 0.00
K-Electric Ltd. / Nov 17 K-Electric Limited(KEL)	36,884,955 ▲ 0.00
Sui South Gas / Nov 17 Sui Southern Gas Company Limited(SSGC)	36,294,630 ▲ 0.00
D.S. Ind. Ltd. / Nov 17 D.S. Industries Limited(DSIL)	32,226,742 ▲ 0.00
TRG Pak Ltd / Nov 17 TRG Pakistan Limited(TRG)	29,018,611 ▲ 0.00
Pak Int.Bulk / Nov 17 Pakistan International Bulk Terminal(PIBTL)	22,405,457 ▲ 0.00
Treet Battery / Nov 17 Treet Battery Limited(TBL)	21,319,898 ▲ 0.00

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