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Archive - 2007-07-07
UN steps up aid for flood victims

UN steps up aid for flood victims

United Nations relief agencies are stepping up help for hundreds of thousands of victims of a cyclone and floods in Pakistan, where authorities urgently need tents and medicines, a UN spokeswoman said on Friday.
Published 07 Jul, 2007 12:00am
National Assembly body for transfer of KPT land to KSEW

National Assembly body for transfer of KPT land to KSEW

National Assembly Standing Committee on Defence Production on Friday recommended that the land of Karachi Port Trust may be transferred to Karachi Shipyard and Engineering Works (KSEW). The Committee meeting chaired by Ms Fiza Junejo, MNA discussed the re
Published 07 Jul, 2007 12:00am
National Assembly body for transfer of KPT land to KSEW

National Assembly body for transfer of KPT land to KSEW

National Assembly Standing Committee on Defence Production on Friday recommended that the land of Karachi Port Trust may be transferred to Karachi Shipyard and Engineering Works (KSEW). The Committee meeting chaired by Ms Fiza Junejo, MNA discussed the re
Published 07 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
National Assembly body for transfer of KPT land to KSEW

National Assembly body for transfer of KPT land to KSEW

National Assembly Standing Committee on Defence Production on Friday recommended that the land of Karachi Port Trust may be transferred to Karachi Shipyard and Engineering Works (KSEW). The Committee meeting chaired by Ms Fiza Junejo, MNA discussed the re
Published 07 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Repo facility restricted only to primary dealers

Repo facility restricted only to primary dealers

State Bank of Pakistan (SBP) has restricted three-day Repo facility only to primary dealers. Earlier, on January 31, 2002, the SBP allowed SBP three-day Repo facility to Development Financial Institutions (DFIs) and investment banks (IBs) on the same term
Published 07 Jul, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Repo facility restricted only to primary dealers

Repo facility restricted only to primary dealers

State Bank of Pakistan (SBP) has restricted three-day Repo facility only to primary dealers. Earlier, on January 31, 2002, the SBP allowed SBP three-day Repo facility to Development Financial Institutions (DFIs) and investment banks (IBs) on the same term
Published 07 Jul, 2007 12:00am
Repo facility restricted only to primary dealers

Repo facility restricted only to primary dealers

State Bank of Pakistan (SBP) has restricted three-day Repo facility only to primary dealers. Earlier, on January 31, 2002, the SBP allowed SBP three-day Repo facility to Development Financial Institutions (DFIs) and investment banks (IBs) on the same term
Published 07 Jul, 2007 12:00am
Pakistan Steel raises products' prices

Pakistan Steel raises products' prices

Pakistan Steel (PS) on Friday raised prices of two of its products by Rs 4,500 per tonne in the wake of increasing international prices. PS has raised solar oil price by Rs 4,500 per tonne in the domestic market, raising its price to Rs 17,500 per tonne a
Published 07 Jul, 2007 12:00am
Pakistan Steel raises products' prices

Pakistan Steel raises products' prices

Pakistan Steel (PS) on Friday raised prices of two of its products by Rs 4,500 per tonne in the wake of increasing international prices. PS has raised solar oil price by Rs 4,500 per tonne in the domestic market, raising its price to Rs 17,500 per tonne a
Published 07 Jul, 2007 12:00am
Pakistan Steel raises products'' prices

Pakistan Steel raises products'' prices

Pakistan Steel (PS) on Friday raised prices of two of its products by Rs 4,500 per tonne in the wake of increasing international prices. PS has raised solar oil price by Rs 4,500 per tonne in the domestic market, raising its price to Rs 17,500 per tonne a
Published 07 Jul, 2007 12:00am
Mirani Dam structurally 100 percent safe: report

Mirani Dam structurally 100 percent safe: report

A special official team has inspected Mirani Dam and submitted report to the government that said despite high flood in Balochistan the newly built dam was structurally 100 percent safe.
Published 07 Jul, 2007 12:00am
Mirani Dam structurally 100 percent safe: report

Mirani Dam structurally 100 percent safe: report

A special official team has inspected Mirani Dam and submitted report to the government that said despite high flood in Balochistan the newly built dam was structurally 100 percent safe.
Published 07 Jul, 2007 12:00am
Mirani Dam structurally 100 percent safe: report

Mirani Dam structurally 100 percent safe: report

A special official team has inspected Mirani Dam and submitted report to the government that said despite high flood in Balochistan the newly built dam was structurally 100 percent safe.
Published 07 Jul, 2007 12:00am
17 killed in Iraq suicide attack

17 killed in Iraq suicide attack

At least 17 people were killed when a booby-trapped car exploded in a Kurdish village north of Baghdad on Friday, an Iraqi police official said. "A man blew himself up in a car at a market in the village of Ahmud Mares south of Jalula, killing at least 17
Published 07 Jul, 2007 12:00am
17 killed in Iraq suicide attack

17 killed in Iraq suicide attack

At least 17 people were killed when a booby-trapped car exploded in a Kurdish village north of Baghdad on Friday, an Iraqi police official said. "A man blew himself up in a car at a market in the village of Ahmud Mares south of Jalula, killing at least 17
Published 07 Jul, 2007 12:00am
Suicide attack kills six soldiers near Swat

Suicide attack kills six soldiers near Swat

A suicide bomber threw himself at an army jeep killing six soldiers near Swat on Friday, an army official said. The attack occurred as they drove through Dir town. A major and a lieutenant were killed in the attack along with four non-commissioned officer
Published 07 Jul, 2007 12:00am
Suicide attack kills six soldiers near Swat

Suicide attack kills six soldiers near Swat

A suicide bomber threw himself at an army jeep killing six soldiers near Swat on Friday, an army official said. The attack occurred as they drove through Dir town. A major and a lieutenant were killed in the attack along with four non-commissioned officer
Published 07 Jul, 2007 12:00am
Developing states hold ground in WTO talks: Brazil

Developing states hold ground in WTO talks: Brazil

Brazilian Foreign Minister Celso Amorim said Friday that developing countries were largely on the same wavelength in deadlocked global trade talks. Amorim, a leading figure in the G20 group of emerging and developing nations in the World Trade Organisatio
Published 07 Jul, 2007 12:00am
Developing states hold ground in WTO talks: Brazil

Developing states hold ground in WTO talks: Brazil

Brazilian Foreign Minister Celso Amorim said Friday that developing countries were largely on the same wavelength in deadlocked global trade talks. Amorim, a leading figure in the G20 group of emerging and developing nations in the World Trade Organisatio
Published 07 Jul, 2007 12:00am
Developing states hold ground in WTO talks: Brazil

Developing states hold ground in WTO talks: Brazil

Brazilian Foreign Minister Celso Amorim said Friday that developing countries were largely on the same wavelength in deadlocked global trade talks. Amorim, a leading figure in the G20 group of emerging and developing nations in the World Trade Organisatio
Published 07 Jul, 2007 12:00am
IBP book on e-banking released

IBP book on e-banking released

The Institute of Bankers Pakistan (IBP) has intensified its efforts for human capital enrichment through multidimensional activities, including publication of books on topical subjects, for the benefit of knowledge seekers across the country and abroad.
Published 07 Jul, 2007 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 07 Jul, 2007 12:00am
Nawaz to hold talks to 'rescue' Pakistan

Nawaz to hold talks to 'rescue' Pakistan

Nawaz Sharif will host opposition talks in London this weekend in a bid "to rescue" Pakistan from eight years of military rule and restore democracy, his spokesman said on Friday. The conference in London would take place on Saturday and Sunday as Preside
Published 07 Jul, 2007 12:00am
Fumigation spray drive in Karachi

Fumigation spray drive in Karachi

Health Department of the City District Government Karachi (CDGK), on the directives of City Nazim Syed Mustafa Kamal, has launched fumigation and insecticide spray programme to avoid the chances of breeding of insects and to check the causes of dengue fev
Published 07 Jul, 2007 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
ABL's entity rating upgraded

ABL's entity rating upgraded

JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the medium to long term entity rating of Allied Bank Limited (ABL) to AA- (Double A minus). According to the rating agency, short term rating has been maintained at A-1+ (A-One Plus), which deno
Published 07 Jul, 2007 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 07 Jul, 2007 12:00am
ABL's entity rating upgraded

ABL's entity rating upgraded

JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the medium to long term entity rating of Allied Bank Limited (ABL) to AA- (Double A minus). According to the rating agency, short term rating has been maintained at A-1+ (A-One Plus), which deno
Published 07 Jul, 2007 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 07 Jul, 2007 12:00am
Foreign exchange should reflect fundamentals: Abe

Foreign exchange should reflect fundamentals: Abe

Japanese Prime Minister Shinzo Abe said on Friday that Japanese authorities are always watching currencies carefully, adding that foreign exchange rates should reflect economic fundamentals.
Published 07 Jul, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 07 Jul, 2007 12:00am
Standard Life gives 70 million shares as anniversary bonus

Standard Life gives 70 million shares as anniversary bonus

Standard Life will hand out bonus shares worth around 230 million pounds ($462 million) next week as it celebrates a year on the stock market that has seen insurance sales soar and its shares jump over 40 percent.
Published 07 Jul, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Standard Life gives 70 million shares as anniversary bonus

Standard Life gives 70 million shares as anniversary bonus

Standard Life will hand out bonus shares worth around 230 million pounds ($462 million) next week as it celebrates a year on the stock market that has seen insurance sales soar and its shares jump over 40 percent.
Published 07 Jul, 2007 12:00am
Dow Jones, News Corp talks not completed

Dow Jones, News Corp talks not completed

Rupert Murdoch's News Corp has not yet reached a deal to buy Dow Jones & Co Inc as discussions continue, representatives for Dow Jones and its controlling Bancroft family said on Friday. Talks are continuing over such issues as price, a source familiar wi
Published 07 Jul, 2007 12:00am
Eurogroup to press Sarkozy for structural reforms

Eurogroup to press Sarkozy for structural reforms

Eurogroup finance ministers and the European Commission will urge French President Nicolas Sarkozy to commit to real structural economic reforms when he outlines his budget plans to them on Monday, EU sources said.
Published 07 Jul, 2007 12:00am
German jobs recovery spurs calls for wage cost cuts

German jobs recovery spurs calls for wage cost cuts

Senior German politicians called for cuts in indirect taxes for workers and employers after the Federal Labour Office said on Friday it expected to post a large operating surplus this year thanks to the improving job market.
Published 07 Jul, 2007 12:00am
Air University extends submission date of application forms

Air University extends submission date of application forms

The Air University on Friday announced two-day extension in the submission of application forms for admission in various disciplines. Registrar of the university, Air Commodore Zafar Ahmed (Retd) told APP that keeping in view the curfew situation in G-6 s
Published 07 Jul, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Media leaders call for objective reporting

Media leaders call for objective reporting

Acquiring professional competence with a view to portraying Pakistan as a peace-loving, tolerant and moderate country through media is the national responsibility of students of communication.
Published 07 Jul, 2007 12:00am
Report on CPNE visit to Nepal compiled

Report on CPNE visit to Nepal compiled

The Convenor of the International Relations Committee of the Council of Pakistan Newspaper Editors, Amir Mahmood has compiled a report on the visit to Nepal of the CPNE delegation led by Syed Fasieh Iqbal, President of the CPNE.
Published 07 Jul, 2007 12:00am
Exports to nine countries down by 30 percent

Exports to nine countries down by 30 percent

Country's exports to nine countries, falling in the index of 40 top countries, including Saudi Arabia, UAE, Iran, Bangladesh and Afghanistan, have slumped by 30 percent in terms of value during the 2007 fiscal year (July-March).
Published 07 Jul, 2007 12:00am
THE RUPEE: four paisa gain in interbank market

THE RUPEE: four paisa gain in interbank market

Bullish sentiment was witnessed in the interbank market on Friday as the rupee gained four paisa against the dollar for buying and selling at 60.36 and 60.38, dealers said. Improved supply of dollars helped the rupee to recover its gains against the US cu
Published 07 Jul, 2007 12:00am
Arms import: date extended

Arms import: date extended

State Bank of Pakistan (SBP) has announced extended the deadline for opening of letter of credit (LCs) for 2006-07 for import of arms and ammunitions of non-prohibited bore (NBP). SBP EPD circular letter No 15 /IPU/2(47)-2007 to the heads of all authorise
Published 07 Jul, 2007 12:00am
THE RUPEE: four paisa gain in interbank market

THE RUPEE: four paisa gain in interbank market

Bullish sentiment was witnessed in the interbank market on Friday as the rupee gained four paisa against the dollar for buying and selling at 60.36 and 60.38, dealers said. Improved supply of dollars helped the rupee to recover its gains against the US cu
Published 07 Jul, 2007 12:00am
Bonus distribution of IGI income fund announced

Bonus distribution of IGI income fund announced

IGI Fund Limited (IGIFL), the asset management arm of the IGI Financial Services and Packages Group, announced bonus distribution for its open-end fund, the IGI Income Fund. Launched in April 2007 with a Pre-IPO investment of Rs 1,125 million, the net ass
Published 07 Jul, 2007 12:00am
Bonus distribution of IGI income fund announced

Bonus distribution of IGI income fund announced

IGI Fund Limited (IGIFL), the asset management arm of the IGI Financial Services and Packages Group, announced bonus distribution for its open-end fund, the IGI Income Fund. Launched in April 2007 with a Pre-IPO investment of Rs 1,125 million, the net ass
Published 07 Jul, 2007 12:00am
Bank Alfalah celebrates decade of productive presence

Bank Alfalah celebrates decade of productive presence

Today Bank Alfalah celebrates a decade of its productive presence on the financial landscape of Pakistan. The Bank was the vision of the founder Chairman, Sheikh Nahayan Mubarak A1-Nahayan, when 10 years ago despite a dismal banking future the world commu
Published 07 Jul, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Pak-Oman Bank assigned stable credit rating

Pak-Oman Bank assigned stable credit rating

JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned an initial medium to long-term rating of "BBB+" (Triple B Plus) and short term rating of "A-2" (A Two) to Pak-Oman Microfinance Bank Limited. The outlook on the medium to long term rating is "St
Published 07 Jul, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
Pak-Oman Bank assigned stable credit rating

Pak-Oman Bank assigned stable credit rating

JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned an initial medium to long-term rating of "BBB+" (Triple B Plus) and short term rating of "A-2" (A Two) to Pak-Oman Microfinance Bank Limited. The outlook on the medium to long term rating is "St
Published 07 Jul, 2007 12:00am
20-metre dredging target set for Karachi port

20-metre dredging target set for Karachi port

Karachi Port Trust (KPT) will dredge its port by 20 metres from the existing 12.2 metres, official sources told Business Recorder here on Friday. Trailer Suction Hopper Dredger (TSHD), manufactured by IHC, Holland, for the KPT, was launched in the
Published 07 Jul, 2007 12:00am
Khalid Khwaja remanded to police custody

Khalid Khwaja remanded to police custody

An anti terrorist court (ATC) on Friday handed over Khalid Khwaja on seven-day physical remand to police for further investigation. Khwaja, a former intelligence official and chairman of the Defence for Human Rights, was brought to the anti terrorist cour
Published 07 Jul, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
NAB launches corruption elimination programme

NAB launches corruption elimination programme

National Accountability Bureau, Sindh, has chalked out an elaborate programme to ensure provision of basic health facilities to people and root out corruption from health department. Under the programme, the NAB, Ministry of Health and Provincial Health d
Published 07 Jul, 2007 12:00am
Strategy evolved to tackle expected flood situation

Strategy evolved to tackle expected flood situation

To combat the expected heavy rain and flood situation Punjab government has evolved a comprehensive strategy, in this connection relief camps would be established in each district of the province, concrete steps would be taken with the close co-operation
Published 07 Jul, 2007 12:00am
SSGC ships goods worth Rs 3.2 million to flood-affected areas

SSGC ships goods worth Rs 3.2 million to flood-affected areas

Sui Southern Gas Company (SSGC) became the first organisation in the corporate sector to voluntarily initiate a relief effort on a fast track basis aimed at mitigating the sufferings of the people of Balochistan and Sindh who have become the victims of on
Published 07 Jul, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (July 06, 2007) and for Saturday (July 07, 2007).
Published 07 Jul, 2007 12:00am
KASB Funds announce bonus

KASB Funds announce bonus

The Board of Directors of KASB Funds Limited, the management company of KASB Liquid Fund, has approved the bonus of Rs 10.72 per unit (10.71 percent on the opening of ex-NAV for 2007 financial year).
Published 07 Jul, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (July 06, 2007).

Published 07 Jul, 2007 12:00am
KASB Funds announce bonus

KASB Funds announce bonus

The Board of Directors of KASB Funds Limited, the management company of KASB Liquid Fund, has approved the bonus of Rs 10.72 per unit (10.71 percent on the opening of ex-NAV for 2007 financial year).
Published 07 Jul, 2007 12:00am
Dubai group acquires Taib Bank's controlling shares

Dubai group acquires Taib Bank's controlling shares

Dubai Financial, the financial holding company for Dubai Group, has announced that it has signed a stock purchase agreement (SPA) to acquire a controlling 60 percent stakes in Taib Bank, the Bahrain-based investment bank engaged in private banking and wea
Published 07 Jul, 2007 12:00am
Dubai group acquires Taib Bank's controlling shares

Dubai group acquires Taib Bank's controlling shares

Dubai Financial, the financial holding company for Dubai Group, has announced that it has signed a stock purchase agreement (SPA) to acquire a controlling 60 percent stakes in Taib Bank, the Bahrain-based investment bank engaged in private banking and wea
Published 07 Jul, 2007 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 07 Jul, 2007 12:00am
Emaar Pak assigned PE1 developer rating

Emaar Pak assigned PE1 developer rating

Pakistan Credit Rating Agency Limited (PACRA) and National Engineering Services Pakistan (Pvt) Limited (Nespak) have assigned PE1 developer rating to Emaar DHA Islamabad Ltd, a joint venture between Emaar Pakistan and Defence Housing Authority (DHA) Islam
Published 07 Jul, 2007 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 07 Jul, 2007 12:00am
Emaar Pak assigned PE1 developer rating

Emaar Pak assigned PE1 developer rating

Pakistan Credit Rating Agency Limited (PACRA) and National Engineering Services Pakistan (Pvt) Limited (Nespak) have assigned PE1 developer rating to Emaar DHA Islamabad Ltd, a joint venture between Emaar Pakistan and Defence Housing Authority (DHA) Islam
Published 07 Jul, 2007 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 07 Jul, 2007 12:00am
Aziz Memon made new Rotary leader

Aziz Memon made new Rotary leader

Noted social figure and philanthropist Aziz Memon has been installed as a leader of the District 3270, covering Pakistan and Afghanistan, for the new Rotary year 2007-08. He has assumed the charge of District Governor on July 1, said a press release issue
Published 07 Jul, 2007 12:00am
The Weather

The Weather

The weather report on Friday (July 06, 2007) and the forecast for Saturday (July 07, 2007).
Published 07 Jul, 2007 12:00am
Pakistan committed to war on terrorism: CNS

Pakistan committed to war on terrorism: CNS

Pakistan today stands committed to the war on terrorism along with the international community. "We want peace with all our neighbours without compromising our honour and dignity", said Chief of the Naval Staff Admiral Muhammad Afzal Tahir while addressin
Published 07 Jul, 2007 12:00am
HEC launching e-book programme

HEC launching e-book programme

The Higher Education Commission (HEC) is launching e-book programme, for students to access various books to read and download the text. Professor Dr Ata-ur-Rehman, Chairman HEC and Advisor to the Prime Minister on Science and Technology said this at conf
Published 07 Jul, 2007 12:00am
Efforts on to bring people in electoral rolls

Efforts on to bring people in electoral rolls

Free And Fair Election Network (Fafen), a group of 30 NGOs, is actively working to mobilise people by employing innovative ideas to secure their cooperation in the ongoing voters' registration and verification process.
Published 07 Jul, 2007 12:00am
Sarfraz represents lawyers in APC

Sarfraz represents lawyers in APC

President Lahore High Court Bar Association (LHCBA) belying the impression of boycotting the All Parties Conference (APC) said that secretary bar Sarfraz Cheema is representing the lawyers in the moot.
Published 07 Jul, 2007 12:00am
6,000 clean, safe drinking water plants to be set up by year-end

6,000 clean, safe drinking water plants to be set up by year-end

In order to protect citizens specially the children from preventable diseases, the government has evolved a comprehensive strategy while an action plan has already been launched under the President's Clean and Safe Water Supply Programme under which 1,000
Published 07 Jul, 2007 12:00am
Wateen to provide data network services to BoP

Wateen to provide data network services to BoP

Wateen Telecom and Bank of Punjab (BoP) has on Friday singed an agreement, under which Wateen would provide its data network services through its high-tech and modern WiMAX and optic fibre networks to the BoP.
Published 07 Jul, 2007 12:00am
26 legal heirs of Samjhota Express deceased not compensated

26 legal heirs of Samjhota Express deceased not compensated

Indian High Commission did not pay compensation to legal heirs of seven deceased, including three from Multan. While compensation of 19 passengers was stopped because they could not be identified as their bodies were charred. Relatives of the missing peop
Published 07 Jul, 2007 12:00am
Pakistan lauds US role in socio-economic sector

Pakistan lauds US role in socio-economic sector

Islam is a religion of peace and brotherhood and the government of Pakistan is promoting mutual harmony and tolerance in accordance with the principles of Islam. Punjab Chief Minister, Chaudhry Pervaiz Elahi, stated this while addressing a function held i
Published 07 Jul, 2007 12:00am
Punjab transport department computerised

Punjab transport department computerised

Punjab Information Technology Department has completed its pilot project of computerising the working of Transport Department under Motor Transport Management Information System (MTMIS) being launched on July 07, Saturday.
Published 07 Jul, 2007 12:00am
SBP urged to bring down mark-up rate on industrial loans

SBP urged to bring down mark-up rate on industrial loans

The Lahore Chamber of Commerce and Industry (LCCI) on Friday urged the Governor State Bank to take immediate measures for bringing down the rate of mark-up on industrial loans, as the high interest rate is not only creating troubles for industrialists but
Published 07 Jul, 2007 12:00am
Rs 32.455 million to be spent on water supply, drainage schemes

Rs 32.455 million to be spent on water supply, drainage schemes

Under Chief Minister's Accelerated Development Programme Rs 32.455 million would be spent on the Urban Water Supply and Drainage Schemes in Dubai Town and Hanjarwal for providing clean drinking water and sanitation facilities to the people of suburb areas
Published 07 Jul, 2007 12:00am
Historical graveyard demolished for park

Historical graveyard demolished for park

Hundreds of graves in the 'historical' graveyard adjacent to the shrine of Hazrat Baba Bulleh Shah (RA) have been demolished to construct a recreational park. The project is being executed by Auqaf department despite a strong opposition from social and re
Published 07 Jul, 2007 12:00am
Government employees to get stickers in G-6 area

Government employees to get stickers in G-6 area

The government employees residing in sector G-6 where curfew has been imposed, would get stickers enabling them to move in the restricted area. An official told APP here on Friday that stickers would be issued at the facilitation centre set up in the Depu
Published 07 Jul, 2007 12:00am
Mirani dam in stable condition: experts

Mirani dam in stable condition: experts

In the wake of the recent flood in Balochistan, Engineer-in-Chief Pakistan Army, Member (Monitoring) Planning Commission along with Member (Water) Wapda visited Mirani Dam Project and declared in their report submitted to the government that even at the u
Published 07 Jul, 2007 12:00am
82.15 percent people endorse government's handling of Jamia Hafsa

82.15 percent people endorse government's handling of Jamia Hafsa

Most of the people have approved the government's handling of Jamia Hafsa issue, says an opinion poll conducted by Pakistan Television. According to poll, 82.15 percent people have backed the government's handling of the issue while 11.63 percent of the p
Published 07 Jul, 2007 12:00am
Ulema oppose use of force against Lal Masjid

Ulema oppose use of force against Lal Masjid

Central Leaders of Wifaq-ul-Madaris Arabia Pakistan (WMAP) have threatened to launch a country wide protest if the character assassination of religious seminaries and clerics is not stopped forthwith and demanded immediate end of the operation against the
Published 07 Jul, 2007 12:00am
Lawyers strike continues

Lawyers strike continues

The lawyers continued their token one hour strike against suspension of Chief Justice Pakistan here on Friday. The lawyers visited the hunger strike camps set up at the premises of LHCBA by the bar and 'Adliya Bachao' Committee (ABC). Another camp was als
Published 07 Jul, 2007 12:00am
ICCI demands removal of excise duty from steel products

ICCI demands removal of excise duty from steel products

President Islamabad Chamber of Commerce and Industry (ICCI) Nasir Khan appreciated Prime Minister Shaukat Aziz for removing special excise duty from fertilisers, petroleum products, ghee, import of edible oil, local oil marketing products, carpets, sports
Published 07 Jul, 2007 12:00am
1,100 poultry farms on the verge of closure

1,100 poultry farms on the verge of closure

Around 1,100 poultry farms are on the verge of closure in Karachi as Sindh Board of Revenue and its Land Utilisation Department appear reluctant to extend the poultry farm leases for another 30 years.
Published 07 Jul, 2007 12:00am
Joint registration of Basmati rice with India condemned

Joint registration of Basmati rice with India condemned

Basmati Growers Association (BGA) has condemned the plans of Rice Exporter Association of Pakistan (Reap) for joint registration of Basmati and joint international marketing with India as stated in a news report appearing in Indian press.
Published 07 Jul, 2007 12:00am
APTA seeks relief on PSF import duty

APTA seeks relief on PSF import duty

All Pakistan Textiles Association (APTA) has called for abolition of customs duty on Polyester Staple Fibre (PSF) imports and demanded that local PSF prices should be adjusted to FOB China prices. In a letter sent to the CBR chairman, APTA chief Adil Mehm
Published 07 Jul, 2007 12:00am
No response to Bilqees Edhi's offer by Lal Masjid administration

No response to Bilqees Edhi's offer by Lal Masjid administration

Eminent social worker, Bilqees Edhi on Friday offered the Lal-Masjid Administration to hand over the held up female students to her organisation for their safe return to the families but this was not responded by the Mosque Admin.
Published 07 Jul, 2007 12:00am
Gastro cases on rise in Karachi

Gastro cases on rise in Karachi

The leaking joints and constant lower pressure maintained in the water supply system due to load shedding at pumping stations caused entry of contaminated ground water into drinking water resulting in increased water-borne stomach and skin diseases, espec
Published 07 Jul, 2007 12:00am
KBCA and KCCI to conduct Shahrah-e-Liaquat survey

KBCA and KCCI to conduct Shahrah-e-Liaquat survey

A joint team of the Karachi Chamber of Commerce and Industry (KCCI) and Karachi Building Control Authority (KBCA) will conduct a survey of Shahrah-e-Liaquat to assess the current status, number of affectees and estimated loss of land/share of each shop un
Published 07 Jul, 2007 12:00am
Mobilink honoured

Mobilink honoured

Adnan Shahid of Mobilink GSM, Pakistan has been given the honouree of IT security practitioner for Asia-Pacific Information Security Leadership Achievements (ISLA) programme of "ISC-squared". ISC-squared is a non-profit global leader working for educating
Published 07 Jul, 2007 12:00am
Writ restored but at what cost?

Writ restored but at what cost?

The operation to retrieve the Lal Masjid-Jamia Hafsa complex from the iron grip of militants appears to have entered the final phase and the time is not far when the writ of the government would be restored in the heart of the nation's capital.
Published 07 Jul, 2007 12:00am
Defective marketing strategy

Defective marketing strategy

Pakistan's garment and apparel sector misses export orders worth about $500 million every year due largely to an inefficient marketing strategy, says a Recorder Report quoting the Chairman of Pakistan Readymade Garment Manufacturers and Exporters A
Published 07 Jul, 2007 12:00am
Funding the budget: need to raise the required domestic resources

Funding the budget: need to raise the required domestic resources

This write-up intends to analyse the budget for 2007-08 [FY-08] under various dimensions; firstly the priorities of the economic managers since October, 1999 take-over, secondly the challenges ahead and the measures to tackle them and thirdly the source o
Published 07 Jul, 2007 12:00am
'Lucky 777' wedding fever sweeps Beirut

'Lucky 777' wedding fever sweeps Beirut

Fingers crossed, Lebanese couples in their droves want to tie the knot in one of the world's most volatile countries on 7/7/07, hoping it turns out to be one of the calendar's most auspicious dates. "Raz wanted the date more strongly than me. He feels lik
Published 07 Jul, 2007 12:00am
Taiwan looks askance at Hong Kong's handover formula

Taiwan looks askance at Hong Kong's handover formula

When China's late leader Deng Xiaoping dreamt up the "one country two systems" formula for Hong Kong, he had a bigger prize in mind: Taiwan. Deng's vision had the former British colony serving as a model of how Taiwan, which Beijing considers a wayward pr
Published 07 Jul, 2007 12:00am
Sleepless night

Sleepless night

My family and I have been suffering for the last 24 hours as we have no light, no water and sadly nowhere to go to spend the weekend that has been ruined because KESC is not working efficiently.
Published 07 Jul, 2007 12:00am
A good example

A good example

A news appeared in Business Recorder of June 24, 2007 that the President of Iran Mahmoud Ahmedinejad is in touch with common man, even his butcher, to keep his finger on Iran's economic pulse as well as get important economic information from the m
Published 07 Jul, 2007 12:00am
Textile sector

Textile sector

This has reference to the letter in Business Recorder on June 14, 2007 about "No limit to greed - textile sector" by Fahad Anwer, which is absolutely correct. The government has announced 3 percent reduction in the interest rate or mark up on loans
Published 07 Jul, 2007 12:00am
Second IHPE in Brunei on August 16

Second IHPE in Brunei on August 16

The Brunei government has announced August 16-19 scheduled for an international exhibition to showcase a brand of foodstuff permissible (Halal) for Muslims. The 2nd International Halal Product Expo (IHPE) 2007, which has been launched few years ago, will
Published 07 Jul, 2007 12:00am
Palestinians need Arabs' support: US scholar

Palestinians need Arabs' support: US scholar

The Palestinians need the Arab world to plead their cause as Israel has successfully made USA and Russia its biggest supporters on the Israel-Palestine conflict, professor Asad Abukhalil from California state University of USA, said while delivering a lec
Published 07 Jul, 2007 12:00am
CPJ condemns journalists murder

CPJ condemns journalists murder

The Committee to Protect Journalists (CPJ) has mourned the death of Javed Khan, a photographer for the Islamabad-based daily Markaz and a cameraman for UK-based DM Digital TV. Khan was shot in the chest and neck on Tuesday while caught in crossfire betwee
Published 07 Jul, 2007 12:00am
Professor Jensen to deliver lectures at IIU

Professor Jensen to deliver lectures at IIU

An American academic, Professor Robert Jensen, teaching at the School of Journalism, Texas University, will deliver a series of lectures at the International Islamic University (IIU).
Published 07 Jul, 2007 12:00am
FBR extends RTO responsibility

FBR extends RTO responsibility

The Federal Board of Revenue (FBR) has allowed Muhammad Ashraf, Commissioner Income Tax (Enforcement), Regional Tax Office (RTO), Faisalabad to look after the work of Commissioner, Income Tax (Legal), RTO, Faisalabad.
Published 07 Jul, 2007 12:00am
Immunisation drive in Sindh and Balochistan soon

Immunisation drive in Sindh and Balochistan soon

The government on Friday announced to immediately launch immunisation campaign in flood affected areas of Balochistan and Sindh to control any spread of water-borne diseases. Health Minister Muhammad Nasir Khan issued the directive while chairing a high l
Published 07 Jul, 2007 12:00am
US MIDDAY: gold slightly down

US MIDDAY: gold slightly down

US gold futures were off their early lows on Friday as the dollar's rise following a strong jobs report stalled, and robust buying by physical buyers could support the precious metal in the near term, dealers said.
Published 07 Jul, 2007 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

US copper futures fell at Friday's open amid some investor profit-taking, but prices steadied at slightly lower levels after a solid June jobs report signalled a pickup in US economic growth, traders said.
Published 07 Jul, 2007 12:00am
US MIDDAY: soyabeans jumps

US MIDDAY: soyabeans jumps

Soyabean futures at the Chicago Board of Trade climbed early on Friday on follow-through support from last week's low US acreage estimate, traders said. That was leading most private analysts to expect the government to reduce its 2007 US soya crop foreca
Published 07 Jul, 2007 12:00am
US MIDDAY: wheat mixed

US MIDDAY: wheat mixed

Soft red winter wheat futures at the Chicago Board of Trade were mixed at midday on Friday, with light profit-taking offsetting support from bullish weekly export data, traders said. The market was consolidating after recent volatility, including a sharpl
Published 07 Jul, 2007 12:00am
US MIDDAY: corn climbs

US MIDDAY: corn climbs

Corn futures at the Chicago Board of Trade climbed more than 2 percent early on Friday on forecasts for hotter and drier weather by the weekend in the US Midwest, traders said. At 10:06 am CDT (1506 GMT), corn was unchanged to 7-3/4 cents per bushel highe
Published 07 Jul, 2007 12:00am
Gold pares losses

Gold pares losses

Gold pared losses after falling to a one-week low on Friday, as the dollar steadied after rising on better-than-expected US jobs data. Spot gold fell as low as $645 an ounce, the lowest since June 28, before rising to $648.20/649.00 1342 GMT, against $649
Published 07 Jul, 2007 12:00am
Aluminium hits five-week high

Aluminium hits five-week high

Aluminium rose to a five-week high on technical fund buying on Friday, while copper eased on profit-taking despite strike threats. On the technical charts aluminium broke above the 100-day moving average at around $2,790 a tonne, which attracted plentiful
Published 07 Jul, 2007 12:00am
China slows soya imports

China slows soya imports

China, the world's top soya importer, has slowed down imports of the oilseed, with surges in Chicago futures squeezing profit margins, especially as a pickup in animal feed has been slower than expected.
Published 07 Jul, 2007 12:00am
New York cotton sets contract high

New York cotton sets contract high

Cotton futures ended strong on Friday, posting a new contract peak and roaring to 3-1/4 year highs, and while traders said the tops were in overnight, the weekly US exports report sustained the support.
Published 07 Jul, 2007 12:00am
Pan Pacific eyes Chile, Peru for copper

Pan Pacific eyes Chile, Peru for copper

Pan Pacific Copper Co Ltd, Japan's top copper smelter, is looking at potential mine sites in Chile and Peru as candidates for its next exploration project, the head of the company said on Thursday. Eiji Kato, who took over at the firm in April, said Pan P
Published 07 Jul, 2007 12:00am
Oil surges to 11-month high

Oil surges to 11-month high

Oil surged to an 11-month high above $76 a barrel on Friday, closing in on the all-time record as Nigerian disruptions and Opec output cuts stirred supply concerns amid rising US refiner demand. London Brent crude, currently seen as a better indicator of
Published 07 Jul, 2007 12:00am
Oil surges to 11-month high

Oil surges to 11-month high

Oil surged to an 11-month high above $76 a barrel on Friday, closing in on the all-time record as Nigerian disruptions and Opec output cuts stirred supply concerns amid rising US refiner demand. London Brent crude, currently seen as a better indicator of
Published 07 Jul, 2007 12:00am
Oil surges to 11-month high

Oil surges to 11-month high

Oil surged to an 11-month high above $76 a barrel on Friday, closing in on the all-time record as Nigerian disruptions and Opec output cuts stirred supply concerns amid rising US refiner demand. London Brent crude, currently seen as a better indicator of
Published 07 Jul, 2007 12:00am
CME beefs up CBOT bid, confident of approval

CME beefs up CBOT bid, confident of approval

Chicago Mercantile Exchange Holdings (CME) said on Friday it increased its take-over offer for CBOT Holdings Inc, winning the vote of CBOT's biggest shareholder and apparently sealing the deal. Craig Donohue, CME's chief executive, told Reuters in a telep
Published 07 Jul, 2007 12:00am
India sugar output crosses 28 million tonnes

India sugar output crosses 28 million tonnes

Sugar output in India has crossed a record 28 million tonnes so far in the year to September 2007, and production is likely to touch 30 million tonnes next year, a trade source said on Friday. The world's second-largest producer churned out 19.3 million t
Published 07 Jul, 2007 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's top share index ended up 0.8 percent on Friday, led by heavyweight oil stocks as crude prices surged to an 11-month high above $76 a barrel and shrugged off better than expected US jobs growth.
Published 07 Jul, 2007 12:00am
Chinese shares higher

Chinese shares higher

Chinese share prices closed 4.58 percent higher on Friday as bargain hunters helped the market recover most of the previous day's sharp losses, dealers said. They said it was another volatile trading session as stocks climbed, fell and then rose again ami
Published 07 Jul, 2007 12:00am
US Stocks: Friday early afternoon trade

US Stocks: Friday early afternoon trade

US stocks rose on Friday, with all three major Wall Street indexes poised to end the week higher, after rising oil prices lifted energy shares and a stronger-than-expected jobs report indicated strength in the economy.
Published 07 Jul, 2007 12:00am
Crossover index moves up

Crossover index moves up

Corporate credit spreads in Europe headed wider on Friday as a stronger than expected US jobs report kept concerns about higher interest rates alive. Financial markets wiped out the chance of a US Federal Reserve rate cut as data showed US employers added
Published 07 Jul, 2007 12:00am
Crossover index moves up

Crossover index moves up

Corporate credit spreads in Europe headed wider on Friday as a stronger than expected US jobs report kept concerns about higher interest rates alive. Financial markets wiped out the chance of a US Federal Reserve rate cut as data showed US employers added
Published 07 Jul, 2007 12:00am
Yen falls to record low against euro

Yen falls to record low against euro

The yen fell to record lows versus the euro on Friday as the market continued to focus on the search for higher yield, while the dollar held the previous session's gains ahead of a key US jobs report.
Published 07 Jul, 2007 12:00am
Sterling steadies below 26-year peak

Sterling steadies below 26-year peak

Sterling steadied below this week's 26-year highs versus the dollar on Friday, but stayed comfortably above the $2 mark, supported by Thursday's Bank of England rate hike and expectations for further tightening.
Published 07 Jul, 2007 12:00am
Court dismisses lawsuit on Bush's spying plan

Court dismisses lawsuit on Bush's spying plan

A US appeals court in Cincinnati on Friday ordered the dismissal of a lawsuit challenging President George W. Bush's domestic spying programme adopted after the September 11 attacks.
Published 07 Jul, 2007 12:00am
Judges search Villepin office in smear probe

Judges search Villepin office in smear probe

French judges searched the offices of former Prime Minister Dominique de Villepin on Friday, a day after targeting his home, as they investigated allegations he unlawfully tried to wreck Nicolas Sarkozy's presidential hopes.
Published 07 Jul, 2007 12:00am
Armenia criticises European Union, Nato over Turkish blockade

Armenia criticises European Union, Nato over Turkish blockade

Armenia criticised Nato and the European Union on Friday for turning a blind eye to Turkey's long-running blockade of its borders, saying Ankara's refusal to open land routes was costing the small, landlocked state a third of its Gross Domestic Product (G
Published 07 Jul, 2007 12:00am
Investigators 'getting to bottom' of plot: Brown

Investigators 'getting to bottom' of plot: Brown

Investigations stretching from Britain to Australia are "getting to the bottom" of a cell behind failed car bombings in London and Scotland, Prime Minister Gordon Brown said on Friday. Brown said he had spoken to Australian Prime Minister John Howard abou
Published 07 Jul, 2007 12:00am
Rains maroon thousands in India

Rains maroon thousands in India

Thousands of people in eastern India were marooned for a fourth straight day on Friday as torrential rains hampered relief work, and in neighbouring Bangladesh two people were killed by landslides. Close to 700 people have died in South Asia due to heavy
Published 07 Jul, 2007 12:00am
Spy recruited top Israeli scientist for USSR

Spy recruited top Israeli scientist for USSR

A convicted spy has revealed for the first time that he recruited another senior Israeli academic to spy for the Soviet intelligence services, a newspaper reported on Friday.
Published 07 Jul, 2007 12:00am
Thousands attend Gaza funerals, Israel ends raid

Thousands attend Gaza funerals, Israel ends raid

Thousands of Palestinians marched in Gaza on Friday for the funerals of 11 people, including nine militants from the ruling Hamas, who were killed in an Israeli raid into the central Gaza Strip a day earlier.
Published 07 Jul, 2007 12:00am
Gusmao party forms coalition

Gusmao party forms coalition

A party set up by former East Timor president Xanana Gusmao has lined up partners to form a coalition government in the wake of last week's parliamentary elections, party leaders said on Friday. "We have decided to make an alliance for the stability of th
Published 07 Jul, 2007 12:00am
Saudi Arabia downplays Iran military threat

Saudi Arabia downplays Iran military threat

Saudi Arabia still hopes for a peaceful solution to the international stand-off over Iran's nuclear energy programme and has downplayed the idea of Iran targeting the Gulf region in any war, a report said on Friday.
Published 07 Jul, 2007 12:00am
US general warns against abandoning Iraq strategy

US general warns against abandoning Iraq strategy

A senior US military commander warned on Friday against cutting the number of troops in Iraq, saying the Iraqi security force cannot fight on its own and a US reduction would cede progress to the insurgents.
Published 07 Jul, 2007 12:00am
Talabani urges Iran to help rein in Iraqi militias

Talabani urges Iran to help rein in Iraqi militias

Iraqi President Jalal Talabani urged neighbouring Iran to help rein in militias carrying out sectarian violence in his country and said Syria and the Islamic Republic could make it easier for Iraq to combat terrorism.
Published 07 Jul, 2007 12:00am
Iraq hangs militant for 2003 killing

Iraq hangs militant for 2003 killing

Iraq has executed an alleged al Qaeda militant found guilty of taking part in the 2003 killing of a top Shia cleric, who also confessed to helping slay 19 Italians, an Iraqi justice official said on Friday.
Published 07 Jul, 2007 12:00am
Millions demand release of hostages in Colombia

Millions demand release of hostages in Colombia

Millions of Colombians brought the country to a near standstill in nation-wide protests to demand that armed groups release thousands of hostages they are holding. Demonstrators wore white shirts and waved white handkerchiefs to show their unity in demand
Published 07 Jul, 2007 12:00am
Air and ground strikes kill 33 Taliban

Air and ground strikes kill 33 Taliban

Air and ground strikes on Taliban fighters killed 33 rebels Friday after the militants attacked police in southern Afghanistan, the defence ministry said. The US-led coalition confirmed the fighting in the southern province of Uruzgan but said only that i
Published 07 Jul, 2007 12:00am
Two Nato soldiers killed in Afghanistan

Two Nato soldiers killed in Afghanistan

A suicide blast struck a foreign military vehicle near the Afghan capital Friday, officials said, as the Nato-led force announced that two of its soldiers were killed in combat elsewhere. Only the attacker was killed in the blast near a convoy travelling
Published 07 Jul, 2007 12:00am
Darfur peace meeting set for Libya this month

Darfur peace meeting set for Libya this month

The United Nations and the African Union plan a meeting in Libya this month on how to advance peace talks among rebel groups in violent Darfur where 2.5 million people are homeless, UN officials said on Thursday.
Published 07 Jul, 2007 12:00am
Abe launches media offensive as voter support dives

Abe launches media offensive as voter support dives

Japanese Prime Minister Shinzo Abe has launched a media offensive to win back foundering voter support, which has slid below the key 30 percent level ahead of an upper house election this month.
Published 07 Jul, 2007 12:00am
Polish official to sue CIA jail report author

Polish official to sue CIA jail report author

Poland's former national security adviser said on Thursday he would sue a European investigator for naming him in a report that accused Poland and Romania of hosting secret CIA prisons for suspected terrorists.
Published 07 Jul, 2007 12:00am
North Korea may shut down nuclear plant early

North Korea may shut down nuclear plant early

North Korea is considering suspending operations at its nuclear facilities as soon as the first shipment of heavy fuel reaches its port under an aid-for- disarmament deal, its Foreign Ministry spokesman said on Friday.
Published 07 Jul, 2007 12:00am
India's HIV cases revised down to 2.47 million

India's HIV cases revised down to 2.47 million

The number of people living with HIV/AIDS in India is 2.47 million, less than half of previous official estimates, according to new UN-backed government estimates released on Friday. India was thought to have the world's biggest HIV-positive caseload with
Published 07 Jul, 2007 12:00am
Gore gets last-minute DC venue for Live Earth

Gore gets last-minute DC venue for Live Earth

Initially rebuffed by Washington, former Vice President Al Gore's Live Earth concerts found a last-minute home in the US capital on Friday after Native Americans offered their museum for the world-wide event.
Published 07 Jul, 2007 12:00am
Six Sri Lankan soldiers killed

Six Sri Lankan soldiers killed

Sri Lanka's Tamil Tigers fired mortar bombs at advancing troops in the east on Friday and killed six soldiers, a military source said, as jets bombed rebel positions. The fighting in Thoppigala in the eastern district of Batticaloa came after the military
Published 07 Jul, 2007 12:00am
Federer and Nadal show ruthless streaks to reach semi-finals

Federer and Nadal show ruthless streaks to reach semi-finals

The rare sight of the sun at this year's Wimbledon brought out the ruthless streaks in Roger Federer and Rafael Nadal on Friday. After days of unrelenting rain at the grasscourt grand slam, the world's two best players stood only one match away from a fin
Published 07 Jul, 2007 12:00am
Asian officials want ban on European clubs

Asian officials want ban on European clubs

Asian soccer officials want European clubs banned from visiting the region during future Asian Cups to ensure their presence does not detract from the tournament.
Published 07 Jul, 2007 12:00am
Middlesex-bound Vaas to miss final Bangladeshi Test

Middlesex-bound Vaas to miss final Bangladeshi Test

Veteran Sri Lankan seamer Chaminda Vaas will miss next week's third Test against Bangladesh in Kandy to return to English county Middlesex, Sri Lanka Cricket (SLC) said on Friday. "We will be without Vaasy for the final Test," SLC spokesman Samantha Algam
Published 07 Jul, 2007 12:00am
Venus wallops her way into Wimbledon final

Venus wallops her way into Wimbledon final

Venus Williams walloped and screamed her way into her sixth Wimbledon final with a 6-2 6-4 victory over Serbian teenager Ana Ivanovic on Friday. The three-times former champion took immediate control with a double break to go 4-0 up in the first set and t
Published 07 Jul, 2007 12:00am
Sharapova to lead in Fed Cup semi-final

Sharapova to lead in Fed Cup semi-final

World number two Maria Sharapova will lead defending champions Russia in next week's Fed Cup semi-final against the United States. The Florida-based Sharapova will make her eagerly-awaited debut for her native country after turning down a chance to repres
Published 07 Jul, 2007 12:00am
Copa needs shot in the arm after initial goal-glut

Copa needs shot in the arm after initial goal-glut

The Copa America, which has gone off the boil in the last three days, reaches the quarter-final stage at the weekend badly needing a new lease of life. The competition began with a glut of goals, 24 being scored in the first six games.
Published 07 Jul, 2007 12:00am
West Indies confident of Chanderpaul fitness

West Indies confident of Chanderpaul fitness

West Indies coach David Moore is confident key batsman Shivnarine Chanderpaul will be fit for Saturday's decisive one-day international against England at Trent Bridge. Chanderpaul, who averaged over 148 during England's 3-0 Test series win, showed his ab
Published 07 Jul, 2007 12:00am
Hong Kong dollar falls

Hong Kong dollar falls

The Hong Kong dollar weakened on Friday, weighed down by arbitrage buying of the US currency. The domestic currency was trading at 7.8174/76 to the US dollar, down from 7.8158/60 in late Thursday trade in Asia.
Published 07 Jul, 2007 12:00am
Asian currencies weaker

Asian currencies weaker

Asian currencies weakened on Friday in line with the Japanese yen as the dollar rebounded broadly ahead of US jobs data. But traders were circumspect about the dollar's rally and most analysts felt the relative hawkishness of monetary policy in other deve
Published 07 Jul, 2007 12:00am
Dollar rises

Dollar rises

The dollar rose versus the yen and euro on Thursday as an unexpected gain in US services sector activity eased concerns the central bank may have to cut interest rates later this year. The greenback erased early losses against the euro after the Institute
Published 07 Jul, 2007 12:00am
Dollar holds gains

Dollar holds gains

The dollar held gains on Friday, staying off a two-month low against the euro and a 26-year trough versus sterling after strong US services data soothed concerns the Federal Reserve may cut interest rates later this year. The dollar rose broadly the previ
Published 07 Jul, 2007 12:00am
Yuan ends lower for third day

Yuan ends lower for third day

China's yuan ended lower against the dollar on Friday for a third straight day, retracing after a rally through the psychologically key 7.60 mark earlier in the week, but dealers expected it to resume its uptrend soon.
Published 07 Jul, 2007 12:00am
Swiss franc slightly lower

Swiss franc slightly lower

The Swiss franc traded slightly lower against the euro and the dollar on Friday after the European Central Bank endorsed expectations of more interest rate hikes in the euro zone. Stronger than expected Swiss jobless figures supported the franc as falling
Published 07 Jul, 2007 12:00am
Philippines shares close 1.14 percent lower

Philippines shares close 1.14 percent lower

Philippines share prices closed 1.14 percent lower on Friday as investors took profits from Thursday's record-breaking run, with domestic political concerns weighing on sentiment, dealers said. The composite index lost 43.48 points to 3,758.84 after tradi
Published 07 Jul, 2007 12:00am
Nikkei falls after six-day rally

Nikkei falls after six-day rally

Japan's Nikkei average slipped 0.44 percent in slow trade on Friday as investors took profits in Canon Inc and other recent gainers following a six-day winning streak. Fast Retailing Co gave up early gains to finish down 1.1 percent.
Published 07 Jul, 2007 12:00am
Thai shares hit 10-year high

Thai shares hit 10-year high

Thai share prices closed 1.03 percent higher on Friday, reaching a fresh 10-year high after a military-appointed council approved a final draft of a new post-coup Thai constitution, dealers said. They said buying of heavy-weighted energy stocks, which hav
Published 07 Jul, 2007 12:00am
Jakarta shares slightly firmer

Jakarta shares slightly firmer

Jakarta share prices closed 0.28 percent higher on Friday on follow-through buying in big caps led by the country's biggest car dealer Astra International, dealers said. They said that the latest interest rate cut would boost corporate earnings in the sec
Published 07 Jul, 2007 12:00am
Singapore shares surge

Singapore shares surge

Singapore share prices closed 0.29 percent higher on Friday led by gains in banks and offshore marine issues amid a buoyant economy, dealers said. However, gains were limited by profit-taking in select blue chip stocks and Wall Street's lacklustre perform
Published 07 Jul, 2007 12:00am
Strong data pummels US bonds

Strong data pummels US bonds

US government bonds tumbled on Thursday after strong data on jobs and services dimmed remaining hopes of a Federal Reserve rate cut anytime soon, while markets braced for Friday's monthly employment report. The Institute for Supply Management's gauge of t
Published 07 Jul, 2007 12:00am
Strong data pummels US bonds

Strong data pummels US bonds

US government bonds tumbled on Thursday after strong data on jobs and services dimmed remaining hopes of a Federal Reserve rate cut anytime soon, while markets braced for Friday's monthly employment report. The Institute for Supply Management's gauge of t
Published 07 Jul, 2007 12:00am
Indian shares rise after crossing 15,000 points

Indian shares rise after crossing 15,000 points

Indian share prices closed at a new record high on Friday, after crossing the key 15,000-point mark in intraday trade as interest rate worries eased, dealers said. They said buying sentiment improved on sustained interest in capital goods, engineering and
Published 07 Jul, 2007 12:00am
Nasdaq climbs on Apple, signs of growth

Nasdaq climbs on Apple, signs of growth

The Nasdaq Composite rose on Thursday as technology shares benefited from stronger-than-expected economic data and Apple Inc shot to a record on expectations of strong sales momentum for its iPhone. But rising bond yields were a damper on the broader mark
Published 07 Jul, 2007 12:00am
Property stocks propel Hong Kong shares to record

Property stocks propel Hong Kong shares to record

Hong Kong stocks swerved from losses to a 1.3 percent gain on Friday after mainland bourses rebounded sharply, setting off a broad-based rally that sent the market to its fourth-straight record high.
Published 07 Jul, 2007 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.33 percent higher on Friday on a technical rebound driven by gains in construction and property stocks, dealers said. The Kuala Lumpur Composite Index gained 4.54 points to 1,373.84. Volume traded was 1.3 billion shares wor
Published 07 Jul, 2007 12:00am
Small-cap growth shares lift Taiwan stocks

Small-cap growth shares lift Taiwan stocks

Taiwan stocks rose 0.43 percent on Friday to their highest close in seven years, as investors chased small-cap growth issues such as Epistar Corp ahead of quarterly earnings from big technology firms. The benchmark TAIEX share index ended up 39.53 points
Published 07 Jul, 2007 12:00am
Argentine June inflation slightly below forecasts

Argentine June inflation slightly below forecasts

Argentina's June consumer inflation came in at a slightly lower-than-expected 0.4 percent, the same as in May, as prices of household goods rose, the national statistics bureau said on Thursday. A Reuters poll of 14 analysts had yielded a 0.5 percent medi
Published 07 Jul, 2007 12:00am
Manila eyes oil exploration in Equatorial Guinea

Manila eyes oil exploration in Equatorial Guinea

The Philippines hopes to seal its first overseas oil and gas exploration deal later this year, with Equatorial Guinea, sub-Saharan Africa's third largest oil producer.
Published 07 Jul, 2007 12:00am
Turkey's Kardemir wins rail track tender

Turkey's Kardemir wins rail track tender

Turkish iron and steel producer Kardemir has won a tender to make 10,000 tonnes of track for a new Turkish fast train project, and also plans to double its liquid raw iron output by 2008, it said on Thursday.
Published 07 Jul, 2007 12:00am
Brazil current account surplus misses forecast

Brazil current account surplus misses forecast

Brazil posted a much smaller-than-expected current account surplus of $100 million in May as foreign direct investment fell, the central bank said on Thursday. The median forecast of 10 economists surveyed by Reuters was for a surplus of $1 billion with f
Published 07 Jul, 2007 12:00am
Slovakia on track to adopt euro in 2009: S&P

Slovakia on track to adopt euro in 2009: S&P

Standard & Poor's sees Slovakia's sovereign credit rating as appropriate with no strong momentum for an upgrade, but planned euro adoption in 2009 might mean it could be raised if fiscal policy is tightened.
Published 07 Jul, 2007 12:00am
Uphill struggle for Gulf investors in North Africa

Uphill struggle for Gulf investors in North Africa

Arab Gulf petrodollars are flooding into North Africa, helping investment-starved economies create jobs and help overcome poverty. On paper, that is. In reality, question marks hang over projects ranging from a vast free trade zone in Libya to a $5 billio
Published 07 Jul, 2007 12:00am
Agrium seeks to double retail revenue in 3-5 years

Agrium seeks to double retail revenue in 3-5 years

Agrium Inc, the world's third-largest nitrogen fertiliser producer, wants to double revenues from its retail operations in the next three to five years, a senior vice-president said on Thursday.
Published 07 Jul, 2007 12:00am
Indian farmers' suicides spiral despite cash plans

Indian farmers' suicides spiral despite cash plans

Hundreds of farmers unable to repay crop loans killed themselves in India's richest state in the past year, despite a multi-million dollar cash plan to improve their lot, activists said on Friday.
Published 07 Jul, 2007 12:00am
Moody's upbeat on Italy DPEF, less so on pensions

Moody's upbeat on Italy DPEF, less so on pensions

Ratings agency Moody's on Thursday gave a broadly positive assessment of Italy's four-year economic plan approved last week, saying it aims to reverse the rising budget deficit and further consolidate public finances.
Published 07 Jul, 2007 12:00am
Telekom Malaysia may return cash if no acquisition

Telekom Malaysia may return cash if no acquisition

State-controlled Telekom Malaysia is prowling Vietnam, Laos and Cambodia for acquisitions to help buffer dwindling growth at home, but may return cash to investors if those plans don't materialise, its chief executive said on Friday.
Published 07 Jul, 2007 12:00am
ONGC to spend $2.5 billion on onshore projects

ONGC to spend $2.5 billion on onshore projects

India's top oil and gas producer, Oil and Natural Gas Corp (ONGC.BO), plans to spend 100 billion rupees ($2.5 billion) over next five years to help maintain output from its ageing fields, a top official said.
Published 07 Jul, 2007 12:00am
Kuwait may reach four million barrels per day oil capacity soon

Kuwait may reach four million barrels per day oil capacity soon

Kuwait may reach its goal to boost oil output capacity to 4 million barrels per day early after some new discoveries but the target date remains 2020, the head of state firm Kuwait Oil Company (KOC) said recently. "The oil production strategy is still 4 m
Published 07 Jul, 2007 12:00am
New capital rules set to benefit big EU insurers

New capital rules set to benefit big EU insurers

Europe's insurance giants are set to benefit from the most radical accounting shake-up to hit the industry in decades, with rule changes due to be unveiled next week by the European Commission.
Published 07 Jul, 2007 12:00am
Nigeria's GDP grows

Nigeria's GDP grows

Nigeria's economy grew 7.5 percent in the first quarter of this year compared to 2.7 percent in the same period of last year, driven by the non-oil sector, the central bank said on Friday. The regulator said in its latest economic report the non-oil secto
Published 07 Jul, 2007 12:00am
Apec ministers vow support for WTO talks

Apec ministers vow support for WTO talks

Apec trade ministers pledged strong support for global trade talks but revealed they were also examining the possibility of an Asia-Pacific free trade area, in a communique issued on Friday. Trade ministers from 21 Apec economies, collectively representin
Published 07 Jul, 2007 12:00am
WTO can still clinch Doha deal this year: India

WTO can still clinch Doha deal this year: India

Indian Commerce Minister Kamal Nath said on Friday he believed it was "still possible" to clinch a World Trade Organisation (WTO) accord in 2007 despite recent setbacks. "Of course we can do it. We are still committed to the end of the year. It is still p
Published 07 Jul, 2007 12:00am
France seeks IMF job but Europe's grip challenged

France seeks IMF job but Europe's grip challenged

France revealed on Friday that it wanted to reclaim the leadership of the International Monetary Fund and Poland said it could field a rival candidate as calls intensified for the abolition of Europe's monopoly of the job.
Published 07 Jul, 2007 12:00am
French court strikes down hire-and-fire jobs law

French court strikes down hire-and-fire jobs law

The Paris Appeals Court struck down on Friday a "hire-and-fire" jobs contract introduced two years ago, a ruling that could complicate President Nicolas Sarkozy's efforts to revise France's restrictive labour code.
Published 07 Jul, 2007 12:00am
Microsoft plans over $1 billion charge for Xbox repairs

Microsoft plans over $1 billion charge for Xbox repairs

Microsoft Corp said late Thursday "an unacceptable number of repairs" to its Xbox 360 will force it to take a charge of more than $1 billion for its most recent quarter, and it announced a new, extended warranty for the video game console.
Published 07 Jul, 2007 12:00am
Strong US jobs growth bodes well for economy

Strong US jobs growth bodes well for economy

US employers added 132,000 jobs in June and payrolls rose more strongly than previously thought in April and May, according to a Labour Department report that underlined a strengthening job market.
Published 07 Jul, 2007 12:00am
German manufacturing orders surge in May

German manufacturing orders surge in May

German factory orders rose much more than expected in May helped by strong foreign demand, official data showed on Friday, suggesting manufacturing made a solid contribution to economic growth in the second quarter. The volume of orders surged 3.2 percent
Published 07 Jul, 2007 12:00am
OECD G7 indicator rises in May, outlook positive

OECD G7 indicator rises in May, outlook positive

The outlook for economic growth in the Group of Seven leading industrial nations is brightening and expansion in OECD member countries should continue at a moderate pace, an OECD report said on Friday.
Published 07 Jul, 2007 12:00am
Nokia Siemens, Thomson to cooperate on home 3G

Nokia Siemens, Thomson to cooperate on home 3G

Telecoms equipment maker Nokia Siemens Networks and set top-box maker Thomson are to jointly develop devices to improve delivery to the home of third-generation mobile services like music and video. NSN, a joint venture of Finnish handset maker Nokia and
Published 07 Jul, 2007 12:00am
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