Nov 01 - 07, 2004


An eight member high level delegation from the US recently visited Preston University Pakistan. The delegation comprised of two sitting Senators from Wyoming, USA, senior officials of the Wyoming Education Department, and the Chancellor and Vice President of Preston University, Wyoming.
During their week-long visit to Pakistan the delegation visited Preston University Pakistan Headquarters and the Islamabad Campus of the University. At Preston Head Office, the delegation called on the Chancellor and President, Dr. Abdul Basit. They discussed the current status of the various programs being offered by the University at its campuses nationwide, and also deliberated on the upcoming programs and expansion plans of the University in Pakistan.



At the Islamabad Campus of Preston, the delegation visited various departments and interacted and exchanged views with the senior management, faculty and students. Some senior members of the delegation also formally addressed the faculty and the students, and responded to their queries in a question and answer session.


The Board of Directors of the Hub Power Company in their meeting held at Hubco Head Office has approved the un-audited Financial Results for the Company's First quarter ended Sept 30, 2004. A spokesperson of Hubco further advised that the Board of Directors have not declared any interim dividend at this meeting.


In gruelling conditions, Fustus Kioko from Kenya, representing team Rosa 2, won the first leg of the Standard Chartered Greatest Race on Earth in Nairobi, achieving a time of 2:14:08. Cheered on by a patriotic crowd, Kioko edged home ahead of Peter Ndegwa, who was second in a time of 2:14:35 and Rop Cleophas who was third in a time of 2:15:08.

The growing importance of the Standard Chartered Nairobi Marathon was highlighted by the appearance of the Kenyan President, His Excellency Mwai Kibaki to officially start this year's race. Local heroes, World Marathon record holder Paul Tergat and Tegla Laroupe, also showed their support of the event by participating in the10km race.

A total of 19 professional teams, 24 National Athletic Association teams, 16 Standard Chartered Bank employee teams and 12 individual runners lined up at the start for the first leg of the Greatest Race. The mixture of exotic location, challenging conditions and a significant prize pool, in excess of USD $1 million attracted athletes of the highest calibre.



Standard Chartered Pakistan has sponsored four Pakistani runners who will participate in the Greatest Race on Earth. These professional runners have been nominated by Athletics Federation of Pakistan. The first runner who went to Nairobi was Naik Muhammad Ramzan, army personnel by profession who has been serving for the past 13 years. He finished the marathon in a time of 3:14:51 and was 18th in the National Team Competition and 37th in the Main Team competition.


The 3rd meeting of the Interministerial Committee reviewed the cotton procurement prices with Commerce Minister, Humayun Akhtar Khan in the chair. Minister for Food and Agriculture, Sikandar Hayat Bosan, Minister for Textile Industry, Mushtaq Ali Cheema attended the meeting. Secretary Commerce, Tasneem Noorani and Chairman Trade Corporation of Pakistan (TCP), Syed Masood Alam Rizvi were present in the meeting. Representatives of growers, ginners and APTMA also participated in the meeting.

The committee decided that the TCP would offer contracts of up to another 1000 bales with ginning factories, which had already sold 2000 bales of cotton to TCP. It was noted that TCP was ready to buy Grade-II cotton along with Grade-III, which was already being purchased by TCP. For this it was decided that the case would be taken to the Economic Coordination Committee (ECC) for formal approval.


The Karachi Stock Exchange has approved formal listing of ordinary share of First National Equities Limited with a paid-up capital of Rs. 500 million and preference share of Rs 800 million of the Chenab Limited from November 1, 2004