Asia Africa Intelligence Wire articles from February 2005, page 9

Asia Africa Intelligence Wire archives from February 2005

(AEWOR) WorleyParsons half-year net profit up 80pc to $23m.
February 28, 2005... (From RWE) Sydney - Monday - February 28: (RWE Australian Business News) - WorleyParsons Ltd lifted net profit 80.5 per cent to $23.05 million in the six months to December 31 from $12.77 million a year earlier. The result included...

(AEWOW) Woolworths net profit up 5pc to $441m; interim div 24c.
February 28, 2005... (From RWE) Sydney - Monday - February 28: (RWE Australian Business News) - Woolworths Ltd increased net profit 5 per cent to $440.9 million in the half-year ended January 2. Excluding Bruandwo and adjusted to reflect a comparable...

Open End Mutual Funds (Unit Trusts).
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT ========================================================== Types of Asset Offer/ Red/ Validity Names of Manager Sale Rep ...

KKI closing rates of currency notes.
February 28, 2005... (From Business Recorder) Rupee/Us Dollar The rupee once again took the driving seat this week and managed to recover grounds which it had lost last week. The rupee started fresh week on the overnight weak note but soon proceeded...

Your rupee last week.
February 28, 2005... (From Business Recorder) ======================================================================================================== T T & O D SELLING AUTHORIZED...

Returns on Profit and Loss Sharing Bank Accounts (July to December 2004).
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT ======================================================================================================================== =============== RETURNS ON PLS INVESTMENTS ...

Cement: MAPLE LEAF CEMENT FACTORY LIMITED - Year Ended 30-06-2004.
February 28, 2005... (From Business Recorder) Byline: SCANNER During the year under review, the company posted highest-ever profit and recorded high productivity. This enabled the company to bring the turnaround in operating results and thus stakeholders...

Partly Facetious: poodle's Poodles only being naA[macron]ve.
February 28, 2005... (From Business Recorder) Byline: ZOHRA IBRAHIM "Jack Straw, the poodle's poodle has said..." "That he can eat no fat and his wife can eat no lean." "Where did that come from?" "Isn't that the nursery rhyme?" "Yes. And...

Iraq war 'undertaken on false assumptions'.
February 28, 2005... (From Business Recorder) Byline: KHADIJA BALKHI "It was a war that was undertaken on false assumptions, perhaps on false claims," said Zbigniew Brzezinski, former National Security Advisor to the Carter administration of the United...

Manual passports.
February 28, 2005... (From Business Recorder) Byline: M RAFIQUE ZAKARIA (KARACHI) Our interior ministry has once again reminded us that all manual passports will expire on June 30, 2006 no matter what expiry date it carries and the applicant will have to...

Riba and its impacts.
February 28, 2005... (From Business Recorder) Byline: MAZHAR ALI SOOMRO The question of prohibition of Riba (interest) had never been a point of debate among the Muslims of the past era for the obvious reasons that the Holy Quran and Sunnah are quite...

Import of cars.
February 28, 2005... (From Business Recorder) Byline: MONA SYED (KARACHI) Apropos Mumtaz A. Piracha's letter appearing in your esteemed newspaper on February 20, 2005 on the issue of the "import of cars" I would like to state a few realities which I...

Opposition's feet of clay!
February 28, 2005... (From Business Recorder) Byline: SYED SHAHID HUSAIN Opposition has been at the receiving end in this country. Every government in Pakistan, democratic or military, has imprisoned them, hounded them, and harassed them and when in...

Marble industry in focus.
February 28, 2005... (From Business Recorder) According to a report from Lahore, acting on the advice of Federal Industries Minister Jehangir Tareen, the Small and Medium Enterprises Development Authority has accelerated the process of initiation of the...

Ring road survey to be completed shortly.
February 28, 2005... (From Business Recorder) The RDA survey for the construction of a 28-km-long Ring Road in the city is likely to be completed within a month. The survey has been conducted by a Rawalpindi Development Authority (RDA) whereas the alignment...

SNGPL utilising Rs eight billion on various projects.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Managing Director Sui Northern Gas Pipeline Ltd Abdul Rashid Loan said the Sui Northern Gas Pipeline is utilising more than Rs 8 billion during the current fiscal period on the...

Government benefits miners' families.
February 28, 2005... (From Business Recorder) The government is taking effective steps for the welfare of miners and all possible education and healthcare facilities have provided to the miners and their families during the last two years. These facilities...

Energy action plan.
February 28, 2005... (From Business Recorder) President General Pervez Musharraf and Prime Minister Shaukat Aziz have approved an action plan to meet Pakistan's growing energy requirements in the immediate, medium-and long-term perspectives. After a...

'Punjab giving top priority to promotion of education'.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Agriculture Secretary Punjab, Fayyaz Bashir said that the provincial government is giving the highest priority to promotion of education especially technology development in the...

Adequate efforts being made for oil and gas discovery: minister.
February 28, 2005... (From Business Recorder) Byline: SARMAD MAHMUD The State Minister for Petroleum and Natural Resources, Mir Muhammad Nasir Mengal has said that adequate efforts are being made for searching new reservoirs of oil and gas in the...

Call to make anti-polio drive successful.
February 28, 2005... (From Business Recorder) District Co-ordination Officer (DCO) Larkana Abdul Razaque Qureshi has appealed to the people of Larkana as well as NGOs, social workers, elected representatives, scouts to come forward and put in every effort to...

Trains schedule.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT The Pakistan Railways has changed the schedule and stations of cancelled trains and also restored the Rohi Express. Announcing the schedule here on Saturday, PR Rawalpindi divisional...

Overall increase seen in cotton prices.
February 28, 2005... (From Business Recorder) Byline: SHAFI AHMAD SYED Presumed enhanced world cotton consumption and locally phutti and quality lots are becoming scarcer are signalling that bulls may take the market by storm, relevant sources commented...

Zaigham Rizvi takes charge as HBFC chief.
February 28, 2005... (From Business Recorder) Zaigham Mahmood Rizvi has been appointed by the government as Chairman/ Managing Director of House Building Finance Corporation (HBFC). Rizvi brings with him rich experience of development banking, having served...

Free medical camp in Kohat.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Begum Shamim Iftikhar, wife of NWFP Governor, arranged a day long free medical camp in collaboration with the Social Welfare Society of Khyber Medical College, which is also known as...

Call to form vigilance bodies.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Punjab Chief Minister Chaudhry Pervaiz Elahi should issue a notification for the formation of the Vigilance Committees in districts under the Bonded Labour System (Abolition) Act 1992...

Grains, seeds trade remains in low key.
February 28, 2005... (From Business Recorder) Byline: RECORDER REVIEW Trading in wholesale commodities depicted low going where price variations were modest to low as supplies of some items bettered during the week ended on February 26, 2005. However tea...

Cotton prices appear strong on local and export markets.
February 28, 2005... (From Business Recorder) Byline: S A AZIZ SHAH On the basis of latest cotton arrivals, hope for producing a bumper cotton crop of no less than 14.5 million 170-Kg bales against earlier estimates of 15.0 million bales, is fading and...

Redtone to offer phone services at 50 percent cheaper rates.
February 28, 2005... (From Business Recorder) The forthcoming telecom operator, Redtone Pakistan, on Sunday hinted provision of services at 50 percent cheaper rates following the launch of its operations in the country from April this year. Now the domestic...

Sindh to expand industrial area in Nooriabad.
February 28, 2005... (From Business Recorder) Sindh Governor, Dr Ishrat-ul-Ibad Khan has said that 5,000 acres of land is being acquired in Nooriabad industrial estate for more industries. Talking to a delegation of Federation of Pakistan Chambers of...

'Sindh government doing best to improve industrial sector'.
February 28, 2005... (From Business Recorder) Chairman, Investment and Development Cell of Sindh Chief Minister, Dr Ghausuddin Khan has said that Sindh government was taking all measures on war footing basis to improve industrial sector in both urban and...

Necessary amendments to be introduced in local government ordinance: minister.
February 28, 2005... (From Business Recorder) Government will introduce necessary amendments in the Local Government Ordinance before commencing the second phase of the system in the country in August this year. This was stated by the Federal Minister for...

NA 127 by-poll held peacefully.
February 28, 2005... (From Business Recorder) The law and order situation on the occasion of by-election in the National Assembly constituency NA-127 remained peaceful here on Sunday. Senior Superintendent Police (Operations) Aftab Ahmad Cheema while talking...

Government-opposition parleys going on: Rashid.
February 28, 2005... (From Business Recorder) Information Minister, Sheikh Rashid on Sunday said government was in constant touch with the opposition. "Contacts with political parties are natural in a democratic set-up and there should be contacts between...

Orix Leasing announces six months profit.
February 28, 2005... (From Business Recorder) Orix Leasing Pakistan Limited (OLP) announced record profit for the half year to December 31, 2004 and the highest volume of new leases written in six months. The company earned profit before tax of Rs 163...

Pakistan and Eritrea to promote parliamentary cooperation.
February 28, 2005... (From Business Recorder) The Eritrean President, Isaias Afwerki on Saturday said his country was keen to promote bilateral co-operation with Pakistan and learn from its experience in various fields. "There exists tremendous potential to...

Wapda to spend Rs 34 billion on network upgradation.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Wapda will spend Rs 34 billion over a period of next five years for rehabilitation and upgradation of its transmission and distribution network, to facilitate its consumers with more...

German investor calls on Prime Minister.
February 28, 2005... (From Business Recorder) A German investor, Henry Biri, who is the vice-president of Metro Group, called on Prime Minister Shaukat Aziz at Bahtar, Fateh Jhang, after his address to a public meeting there on Sunday. Henry Biri informed...

KIIT convocation held: 'students must excel expertise for economic uplift'.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Students must excel and utilise their expertise for progress and economic development of the country. If they opt to work abroad they must uphold the dignity of their motherland....

Call for consultations before WTO moot.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT The WTO experts have feared that developed countries may impose their policy decisions on developing ones in the upcoming WTO mini-ministerial conference starting from March 2 in...

Corporate cases listed for Supreme Court.
February 28, 2005... (From Business Recorder) Byline: MEHMUD AHMED The Supreme Court cases list for the coming judicial week commencing from Monday has some important appeals relating to the national accountability bureau (NAB) and banking and corporate...

Washington Post report termed 'baseless'.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Pakistan has strongly rejected Washington Post report about a meeting 18 years ago between Dr Abdul Qadeer Khan and Iranian officials which resulted in a written offer to supply Iran...

Upward trend in SPI continues unabated.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT The sensitive price indicator (SPI) of 53 daily use items for week ending on February 24 has further inched up to 12.76 percent as compared to corresponding week previous year. The...

Railways overcomes operational losses, may earn profit.
February 28, 2005... (From Business Recorder) Byline: M RAFIQ GORAYA Pakistan Railways has overcome its annual operational losses of Rs 1 billion and may earn some profit by June 2005, after 30 years of chaos, mismanagement, corruption, criminal...

Big mills enhance paper prices by 30-35 percent.
February 28, 2005... (From Business Recorder) Byline: MUHAMMAD RIAZ Various paper mills have increased the prices of their products by 30-35 percent during last couple of weeks. The paper mill-owners have also established a pool to produce different...

Money Week: Commercial banks continue fuelling credit expansion.
February 28, 2005... (From Business Recorder) Byline: RECORDER REVIEW The scenario at about the end of the first half of FY05 called for amends in monetary policy. Inflation had been on the rise. Overall consumer inflation in January 2005 over January...

Fresh rally witnessed on ISE.
February 28, 2005... (From Business Recorder) Byline: SOHAIL SARFRAZ Islamabad Stock Exchange (ISE) witnessed fresh rally last week, supported by positive news on privatisation and fresh buying in star performer stocks. ISE Chairman Abdul Waheed Jan told...

Badla rate glued at 18 percent.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT The weighted average badla rate on the Karachi Stock Exchange (KSE) remained glued at 18 percent throughout last week because of unprecedented buying spree, resulting in a spurt in...

KSE hits new high.
February 28, 2005... (From Business Recorder) Byline: RECORDER REVIEW The stock market for the seventh consecutive session recorded gain and the index touched another milestone with heavyweights posting tremendous gains, showing immense participation...

PPIB fails to agree on advisers for new power projects.
February 28, 2005... (From Business Recorder) Byline: MUSHTAQ GHUMMAN The Private Power Infrastructure Board (PPIB) has failed to develop consensus on the appointment of reputable international advisers to prepare new power projects for international...

Bulls hold sway on LSE.
February 28, 2005... (From Business Recorder) Byline: RECORDER REVIEW The local share market remained in a bullish frame of mind throughout the past week, mainly on account of staggering buying interest both from institutions and individual investors,...

Mixed trend versus dollar in money market.
February 28, 2005... (From Business Recorder) Byline: RECORER REVIEW The rupee managed to hold grip over its movements versus the dollar, but it lost its command on the euro last week due to single European currency's appreciation in the global markets,...

Nusrat Canal breach floods 15 villages.
February 28, 2005... (From Business Recorder) Nusrat Canal was breached by more than 100 ft wide leaving 15 villages inundated and destroying standing crops of various types, near Village Noor Muhammad Rajpur, Padidan, here late on Saturday night. Residents...

Futures market spreads rise to 46 percent.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT The stocks future market is growing fast and brisk activity was witnessed on this counter, increasing the spreads to around 46 percent. While Badla rates are capped at 18 percent, the...

Rightsizing a must to remain competitive; AKFED pays $102 million for more HBL share.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Exactly one year after the privatisation of Habib Bank Limited, the Government of Pakistan has received an additional $102.96 million from Aga Khan Fund for Economic Development...

10 school children killed as bus falls into ditch.
February 28, 2005... (From Business Recorder) Byline: ZIA M KHAN At least 10 school children died on Sunday and dozens others sustained injuries, some of them serious, when a bus carrying them plunged into a ditch after breaking roadside fence on...

Tea import from Sri Lanka and Bangladesh to be increased; retaliatory action against Kenya.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT Pakistan is considering to shift tea import orders to Bangladesh and Sri Lanka from Kenya which increased duty on Pakistan's rice by 100 percent, an official of Commerce Ministry told...

The Weather.
February 28, 2005... (From Business Recorder) Byline: RECORDER REPORT ============================================== Cities Max Min Humidity Rain ============================================== Islamabad 21 06 ...

OPEN - ASIA PULSE INTERNATIONAL - FEB 28, 2005.
February 28, 2005... (From Asia Pulse) Good Morning. This is the Asia Pulse International service of business intelligence, news, tenders and expert commentary on the economics of Asia provided by Asia Pulse Pte Ltd (Asia Pulse). Asia Pulse reserves...

FOREX - AUSTRALIAN DOLLAR OPENS HIGHER - FEB 28, 2005.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - The Australian dollar opened higher today ahead of a widely expected interest rate rise this week, as the US dollar eased broadly on Friday night. At 0700 AEDT the local unit was trading...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - FEB 28, 2005.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - Highlights of today's newspapers: THE AUSTRALIAN - Treasurer Peter Costello confirms Labor state governments that fall behind in spending on health, education and infrastructure will...

GM DAEWOO'S LACETTI WINS 14 AWARDS IN CHINA.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - GM Daewoo Auto & Technology Co.'s compact Lacetti model won 14 awards and was named the best car of its size for 2004 by a Beijing-based newspaper, the company said Sunday. GM Daewoo said...

S KOREAN GOVT TO LOWER LNG FUEL PRICE NEXT MONTH.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - The South Korean government Sunday said it will lower the retail price of liquefied natural gas (LNG) fuel by 8.5 per cent from next month. The price will be lowered to 438.38 won from the...

S KOREA'S CURITEL SUPPLIES MOBILE PHONES FOR VERIZON WIRELESS.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - Curitel Communications Inc. (KSE:063350), which together with affiliate Pantech Co. (KSE:025930) stands at South Korea's third-largest mobile phone maker, said Sunday it is supplying...

S KOREA, ASEAN AGREE TO CONCLUDE FTA ON GOODS BY END 2005.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - South Korea and the Association of Southeast Asian Nations (ASEAN) agreed to conclude a fair trade agreement on goods transactions by the end of the year, the Ministry of Foreign Affairs and...

S KOREAN FIRMS TO EXCHANGE PHARMACEUTICALS WITH N KOREA.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - A South Korean pharmaceutical trade group said Saturday it will establish an office in an industrial complex in North Korea to promote the inter-Korean exchange of pharmaceutical products....

KOREA DEV'T BANK TO ESTABLISH PRIVATE EQUITY FUND NEXT MONTH.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - Korea Development Bank (KDB) will launch a private equity fund with assets of about 340 billion won (US$337 million) next month, sources said Sunday. KDB has completed the process of...

AUSTRALIA'S COATES SAYS ITS OUTLOOK STILL EXTREMELY POSITIVE.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - Equipment hire company Coates Hire Ltd (ASX:COA) said today that its outlook remains extremely positive. The company announced a first half net profit of $A30.478 million ($US23.96...

S KOREA'S INDUSTRIAL OUTPUT RISES 14.2 PCT IN JAN.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - South Korea's industrial output rose 14.2 per cent year-on-year in January, the state statistics office said Monday. South Korea's industrial production accelerated because of robust...

(SX) Alphabetical Index of ASX ComNews by Headline.
February 28, 2005... (From RWE) Sydney - Monday - February 28 Headline (ASX Company Code - Time Published) [A] APA announcement of half year results (APA - 8:40 AM) ARQ: Corybas 1 gas exploration & appraisal well update (ORG - 8:32 AM) ASL: African Mining...

(AEAPA) Aust Pipeline interim net profit up 16pc to $25.7m.
February 28, 2005... (From RWE) Sydney - Monday - February 28: (RWE Australian Business News) - Australian Pipeline Trust lifted net profit 16.1 per cent to $25.72 million in the six months to December 31 Revenue rose 32.9 per cent to $177 million The...

TAIWAN GOVT INVESTMENT POSTS FIRST POSITIVE GROWTH IN FIVE YEARS.
February 28, 2005... (From Asia Pulse) TAIPEI, Feb 28 Asia Pulse - The government's fixed investments will post a growth rate of 1.1 per cent in real terms this year for the first time in five years, according to a forecast made Sunday by the Directorate...

S. KOREAN STOCK MARKET CAPITALIZATION WORLD'S 15TH HIGHEST.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - The recent surge in the value of South Korean stocks put the local stock market ahead of those of Taiwan and South Africa to make it the 15th biggest in the world, the Korea Exchange said...

AUSTRALIA'S WOOLWORTHS SEES HIGHER NET PROFIT IN 2004/05.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - Supermarket group Woolworths Ltd (ASX:WOW) said today it expects to post between 12 per cent and 15 per cent growth in net profit in 2004/05. The company announced a net profit of $A440.9...

S KOREAN LENDING RATES RISE IN JAN.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - Average interest rates charged by South Korean banks for loans rose for the first time in seven months in January due to soaring market rates, the central bank said Sunday. The average...

INDIAN AIRLINES TO CONCLUDE PRICE NEGOTIATIONS WITH AIRBUS SOON.
February 28, 2005... (From Asia Pulse) MUMBAI, Feb 28 Asia Pulse - Indian Airlines (IA) is expected to conclude its price negotiations with Airbus in the next 10 days and the proposal would be placed before the Cabinet Committee on Economic Affairs next...

TATA MOTORS LAUNCHES INDICA HATCHBACK IN TURKEY.
February 28, 2005... (From Asia Pulse) MUMBAI, Feb 28 Asia Pulse - Automotive major Tata Motors Ltd (BSE:500570) launched its 'Indica' hatchback in Turkey at an event organised at Istanbul Saturday. The company is introducing three models of the Indica...

INDIA'S JET AIRWAYS TO LAUNCH DAILY SERVICES TO SINGAPORE, KL.
February 28, 2005... (From Asia Pulse) MUMBAI, Feb 28 Asia Pulse - Jet Airways will launch daily services to Singapore and Kuala Lumpur from April 3 and April 27 with Boeing 737-800s. The daily Mumbai-Singapore service would commence from April three...

TAIWAN'S JOBLESS RATE DROPS TO 44-MONTH LOW: DGBAS.
February 28, 2005... (From Asia Pulse) TAIPEI, Feb 28 Asia Pulse - Taiwan's unemployment rate dropped to 4.06 per cent in January, the lowest since May 2001, when the unemployment rate was 4.22 per cent, according to statistics released Friday by the...

S KOREAN NEWSPAPER HIGHLIGHTS - FEB 28, 2005.
February 28, 2005... (From Asia Pulse) SEOUL, Feb 28 Asia Pulse - Highlights of today's newspapers: KYUNGHYANG SHINMUN - Standard land prices up 26% on average KUKMIN DAILY - Standard land prices up 26% on average, tax burden increases ...

STOCKS - AUSTRALIAN STOCKS OPEN HIGHER - FEB 28, 2005.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - Australian stocks opened higher today, driven by a solid US market and strength in the local resources sector. The benchmark S&P/ASX200 was up 27.6 points to 4158.1 at 1015 AEDT while the...

AUSTRALIAN PIPELINE TRUST EXPECTS ITS GROWTH TO CONTINUE.
February 28, 2005... (From Asia Pulse) SYDNEY, Feb 28 Asia Pulse - Australian Pipeline Trust (APT) (ASX:APA) expects recent acquisitions and new contracts to continue the company's growth after a solid rise in first half earnings. Australian Pipeline...

BNZ CURRENCY RATES.
February 28, 2005... (From New Zealand Press Association) Wellington, Feb 28 - The following opening foreign currency rates are quoted today by the Bank of New Zealand Ltd. The rates are subject to change without notice and might not apply to larger...

O'MALLEY SURVIVES SCARE TO TAKE OUT TITLE.
February 28, 2005... (From New Zealand Press Association) Christchurch, Feb 28 NZPA - There's no such thing as a sure thing in golf. Australian Peter O'Malley can attest to that after he survived a mid-week hacker's mistake to tell the tale how he won...