US Dollar 59.9 60
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Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)



In oC




Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005




KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1







Oct 03 - 09, 2005

"Pakistan had been placed at the top of 16 Asian nations that had attracted over a billion dollars of investment during the last year," said Waseem Haqqie, Chairman of Pakistani Board of Investment.

(The UN's World Investment Report reveals that Pakistan ranked top among 16 Asian countries to attract more than 1 billion dollars foreign investment.)

"By setting up joint ventures Bangladesh and Pakistan could easily compete with China and India in the WTO free-trade era. They can jointly grab a share of 30 billion dollars in $250 billion global textile trade," said Chairman Board of Investment and Advisor to Bangladesh Prime Minister on Energy and Minerals, Mahmood-ur-Rahman.

(Bangladesh has offered Pakistani industrialists joint ventures in order to increase exports of apparel, pharmaceutical, information technology and light engineering in WTO free-trade era.)

"The Prime Minister will make a case for bilateral co-operation in textiles, IT, telecommunications, and energy," said Foreign Office spokesman Naeem Khan.

(Prime Minister arrived in Seoul with many proposals to seek Korean investment in Pakistan.)

"DHL has a long history of successful partnership with Pakistan, such as the joint venture between DHL International and DHL Pakistan spanning more than 23 years. It is our intention to continue building on this relationship well into the future," said Scott Price, CEO of DHL Express, Asia-Pacific.

(DHL International plans to invest $8mn in three years in coordination with DHL Pakistan.)

"Setting aside the prescribed criterion of deletion program, three companies allowed duty-free import of 7,500 tractors."

(The government has allowed three companies to import 7,500 duty-free tractors, setting aside the prescribed criterion of deletion programme, duly approved by Engineering Development Board. The companies, which have been given clearance to import 2500 tractors each, are John Deere, Universal Tractors, and Dewan Group.)

"The Cabinet Committee on Privatisation (CCoP) approves highest bid for Mustehkam Cement Ltd. (MCL) and Javedan Cement Ltd. (JCL)."

(Prime Minister has approved bids for MCL and JCL. MCL will bring Rs.3.20bn at Rs.305 per share, while JCL will fetch Rs.4.315bn at a price of Rs.80 per share.)

"A proactive multi-pronged strategy is very much in place now to achieve the $27 billion foreign direct investment (FDI) target in the next five years," said Board of Investment (BoI) Chairman Waseem Haqqie.

"The strike was successful beyond our expectations. It was the biggest-ever action by the trade unions," said M.K. Pandhe, head of the Centre of Indian Trade Unions.

(Millions of Indian state workers staged one-day national strike that disrupted flights and shut down government offices and banks. They were protesting against privatization plans.)

"It is Samsung's intention to be completely out of reach of smaller memory chip makers," said Kim Ik-sang, an analyst of CJ Investment & Securities.

(Samsung Electronics Co Ltd., the world's top memory chip maker, announced a $33 billion investment plan. The company is aiming to more than treble its chip sales by 2012.)

"United States will be providing more than 1.5 billion dollars for development projects in social sector in Pakistan during the next five years through USAID," said US National Security Advisor Stephen Hadley.

"The federal government has offered the provinces 48% share from the divisible pool under new NFC Award. This share will ultimately be increased to 50 percent by 2010. The provinces are still studying the proposal and may provide their answers soon, " said official sources.

"US Airways merged with America West. Today we start a new chapter in aviation history," said Douglas Parker, the America West chief executive.

"Asian GDP will exceed North America's by 2025," according to a study conducted by central bank of South Korea.

(Asia's economy will be larger than the combined economy of the United States, Canada and Mexico by 2025, according to South Korea's central bank. The Bank of Korea said its study also showed Asia's combined annual GDP would grow to account for 42 percent of the world's total output in 2040, leaving behind North America (23% share) and EU (16% share). The study defined Asia as comprising 14 economies, excluding Middle East countries and Russia, and the EU as comprising the 15 member countries before it was enlarged last year.)

"Zhuzhou Smelting, China's second-largest zinc producer by capacity, is looking to acquire mines at home and abroad to tackle shortage of raw materials," said a senior company executive.

(China will get a big quantity of mineral products, particularly zinc and lead from Pakistan on regular basis.)

"Very very sound projects that are helping poor children in the country and doing so in a way that, as far as I can tell, are clean of corruption," World Bank President Paul Wolfowitz.

(Wolfowitz praises Pakistan for taking steps to root out corruption from society, and for launching education programme in Punjab.)

"Porsche AG in Stuttgart plans to buy about 20 percent of the voting shares in Volkswagen AG in Wolfsburg," German luxury sports car maker Porsche.

(Porsche has developed in partnership with Volkswagen the 4x4 vehicle Cayenne and is also collaborating on a hybrid motor.)


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