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Archive - 2010-12-19
Altaf, Pir Pagara, Saifullah discuss political situation

Altaf, Pir Pagara, Saifullah discuss political situation

There is no governance in the country and corruption is at its peak while people are tired of inflation and dictation from United States (US). This was stated by Mutahida Qaumi Movement (MQM) Chief, Altaf Hussain during the telephonic conversation with Sa
Published 19 Dec, 2010 12:00am
Land of Mao revered by people of Sindh

Land of Mao revered by people of Sindh

Provincial Minister for Culture Saussui Palijo has said that the people of Sindh attach great importance, and cordially welcome Chinese Premier and his Cabinet members on their visit to Pakistan. Both countries have rich culture and ancient civilisation,
Published 19 Dec, 2010 12:00am
MQM team to meet Gilani today

MQM team to meet Gilani today

A delegation of Muttahida Qaumi Movement (MQM) will meet Prime Minister Syed Yousuf Raza Gilani on Sunday (today) and is expected to meet President Asif Ali Zardari on December 20 (Monday). Deputy Convener, MQM Co-ordination Committee, Dr Farooq Sattar wi
Published 19 Dec, 2010 12:00am
KIU to establish own radio, TV stations

KIU to establish own radio, TV stations

The Karakuram International University (KIU) will soon establish its own Radio station and Television studio. Chairman Media and Telecommunication department Shafiq Jalindari told APP on Saturday that a PC-I, in this regard, had already been prepared whic
Published 19 Dec, 2010 12:00am
Christian employees salaries

Christian employees salaries

Sindh Government has decided on Saturday to pay the salaries and pension on the eve of Christmas to all Christian employees on December 20 (Monday) instead of giving them January 1 as per routine.
Published 19 Dec, 2010 12:00am
Japan labels China's military a global concern

Japan labels China's military a global concern

Japan on Friday labelled the military build-up of rival China a global "concern" and said it would strengthen missile defences against the threat from North Korea, as part of a major strategic review. The changes would also see Tokyo boost its southern fo
Published 19 Dec, 2010 12:00am
Anti-China protesters rally in Tokyo

Anti-China protesters rally in Tokyo

At least 2,000 anti-China protesters rallied in Tokyo Saturday, after an Okinawan city set a day to commemorate Japan's 1895 integration of an island group at the centre of a territorial row with Beijing. The rally and street demonstration in bustling Shi
Published 19 Dec, 2010 12:00am
Elephant drivers strike in Nepal over pay

Elephant drivers strike in Nepal over pay

Elephant drivers in Nepal's top wildlife park have gone on strike to demand higher pay, industry officials said Saturday. The drivers, or mahouts, are employed by the hotel industry to take tourists on elephant-back safaris in the Chitwan national park, h
Published 19 Dec, 2010 12:00am
Obama warns of possible setback in US-Russia ties

Obama warns of possible setback in US-Russia ties

US President Barack Obama warned members of the US Senate Saturday that their failure to ratify a new nuclear arms reduction treaty with Russia before the end of the year could set back relations with the former Cold War rival.
Published 19 Dec, 2010 12:00am
Bloody parliament brawl shocks Ukraine

Bloody parliament brawl shocks Ukraine

Ukrainian prosecutors on Friday opened an investigation after several opposition deputies were badly injured in a bloody brawl in parliament that saw punches thrown and chairs hurled. The fight late on Thursday was violent even by the fractious standards
Published 19 Dec, 2010 12:00am
Pirates jailed for 22 years by Seychelles

Pirates jailed for 22 years by Seychelles

Seychelles has jailed nine Somali pirates for 22 years each over an attack on a fishing boat in March, the attorney general's office said. The nine were sentenced by Judge Gustave Dodin in the Indian Ocean archipelago's Supreme Court on Wednesday, in the
Published 19 Dec, 2010 12:00am
Letter to Prime Minister: Speaker Punjab Assembly seeks Taseer's removal

Letter to Prime Minister: Speaker Punjab Assembly seeks Taseer's removal

Punjab Assembly's Speaker Rana Muhammad Iqbal in a letter addressed to the Prime Minister has requested him to advice the President of Pakistan to remove Salman Taseer from the office of the Governor of the Punjab for violating the Constitution of Pakista
Published 19 Dec, 2010 12:00am
Government urged to hold training programmes for labour force

Government urged to hold training programmes for labour force

Labour and Social Welfare sub-committee of Karachi Chamber of Commerce and Industry, (KCCI) has urged government to organise frequent training programmes for preparing skilled labour. According to the sub-committee report it is noted that frequent trainin
Published 19 Dec, 2010 12:00am
MQM names office-bearers of Abbottabad Zone

MQM names office-bearers of Abbottabad Zone

Muttahida Qaumi Movement (MQM), Rabita Committee has announced incharges as well as members of Abbottabad Zone and its five district committees. The announcement was made by the member MQM Rabita Committee, Shahid Latif at a meeting of the office-bearers
Published 19 Dec, 2010 12:00am
'Aashiyana housing scheme to be the best in country'

'Aashiyana housing scheme to be the best in country'

Punjab Chief Minister, Shahbaz Sharif has said low-cost housing scheme 'Aashiyana' will be the first residential scheme where low-income people and labourers will have all basic facilities. "It will be the best housing schemes in the country," he added. T
Published 19 Dec, 2010 12:00am
Ashura: Ibad praises police, rangers

Ashura: Ibad praises police, rangers

Governor of Sindh, Dr Ishratul Ibad Khan, has praised the efforts of law enforcement agencies for maintenance of law and order during Ashura. According to a statement issued here on Saturday by Governor House, he said due to measures and close liaison bet
Published 19 Dec, 2010 12:00am
Jobs being provided transparently: official

Jobs being provided transparently: official

Jobs in the province are being provided on merit in a transparent manner and this includes the health department. This was stated by the spokesman of Sindh Chief Minister in a statement, here on Saturday. He described reports appearing in a section of pre
Published 19 Dec, 2010 12:00am
Gas loadshedding: APCNGA wants to be part of Monday's meeting

Gas loadshedding: APCNGA wants to be part of Monday's meeting

All Pakistan CNG Association on Saturday urged the government to allow its representative take part in the forthcoming meeting on gas load-shedding to be chaired by the Prime Minister on December 20. All Pakistan CNG Association Chairman Ghiyas Abdullah P
Published 19 Dec, 2010 12:00am
Three cops suspended over death in custody

Three cops suspended over death in custody

An inquiry has been initiated against three police officers over the mysterious death of 22 years old prisoner in custody of Risala police.
Published 19 Dec, 2010 12:00am
PIA to commence flights to Zahedan

PIA to commence flights to Zahedan

The Pakistan International Airline (PIA) here on Saturday announced to initiate twice weekly flights to Zahedan, Iran. A spokesman of the airline said that the PIA will operate flights to Zahedan every Wednesday and Saturday from Karachi and Quetta.
Published 19 Dec, 2010 12:00am
KU to revise semester exams schedule

KU to revise semester exams schedule

The high power review committee of the University of Karachi will revise semester examinations schedule. This was stated by Registrar of the University, Professor Kaleem Raza Khan, on Saturday. He announced that a meeting of the high power review committe
Published 19 Dec, 2010 12:00am
Nawaz concerned over political, economic disturbances

Nawaz concerned over political, economic disturbances

Pakistan Muslim League-N Chief, Mian Nawaz Sharif has expressed concerns, on Thursday, over the current political and economic situation in the country and called for providing good governance and eradicating menace of corruption.
Published 19 Dec, 2010 12:00am
5,000 metric tons LPG consignment arrives at PQ

5,000 metric tons LPG consignment arrives at PQ

To meet the domestic demand of liquefied petroleum gas (LPG) during winter, a bulk consignment of 5,000 metric tons of imported LPG has arrived and unloaded at Port Qasim (PQ).
Published 19 Dec, 2010 12:00am
Why NSS centre was closed on Saturday?

Why NSS centre was closed on Saturday?

The unannounced closure of National Saving Centres within the jurisdiction of federal capital was a source of severe problem for people who have invested in National Saving Scheme (NSS). Investors of NSS told Business Recorder here on Saturday that
Published 19 Dec, 2010 12:00am
Chief Justice LHC constitutes 10 DBs, 21 SBs

Chief Justice LHC constitutes 10 DBs, 21 SBs

Chief Justice Lahore High Court (LHC) Justice Ijaz Ahmed Chaudhry here on Saturday Constituted 10 division benches (DBs) and 21 single benches (SBs) for disposal of the cases pending with the principal seat of the august court for the week commencing from
Published 19 Dec, 2010 12:00am
Winter vacations in 15 districts of Balochistan

Winter vacations in 15 districts of Balochistan

As many as 70-days long winter vacations in 15 district of Balochistan have begun, sources in education department said. The education department has announced winter vacations for the schools and colleges functioning in chill areas of the province, which
Published 19 Dec, 2010 12:00am
Punjab government 'forcing' shopkeepers to buy imported sugar

Punjab government 'forcing' shopkeepers to buy imported sugar

Traders of South Punjab have refused to purchase hundreds tons of sugar lying in the stock of the provincial government in the warehouses of Lahore and other cities. Traders told here on Saturday that Punjab Government was pressurising them through specia
Published 19 Dec, 2010 12:00am
Academic cooperation: UHS, Kathmandu universities sign MoU

Academic cooperation: UHS, Kathmandu universities sign MoU

The University of Health Sciences (UHS) Lahore and Kathmandu University of Nepal have entered into an agreement of academic co-operation for a period of five years. In this regard, a memorandum of understanding (MoU) was signed here on Saturday by UHS Vic
Published 19 Dec, 2010 12:00am
Three convicted in murder cases

Three convicted in murder cases

Additional District and Sessions Judge Chaudhry Nazir Ahmed on Saturday awarded capital punishment to two murderers for killing a man in village Mir Muhammad, Pattoki. Convicts Muhammad Amin and Muhammad Salim will pay fine of Rs 100,000 each. Another thr
Published 19 Dec, 2010 12:00am
'Making polio campaign a success is prime responsibility of EDOs'

'Making polio campaign a success is prime responsibility of EDOs'

Secretary Health Punjab Fawad Hassan Fawad has said that monitoring and supervision of the routine immunisation of pregnant women and children against different diseases and making polio campaign a success is the prime responsibility of the Executive Dist
Published 19 Dec, 2010 12:00am
Strikes a hurdle in dispensation of justice: Chief Justice LHC

Strikes a hurdle in dispensation of justice: Chief Justice LHC

The Lahore High Court (LHC) Chief Justice Ijaz Ahmad Chaudhry calling continuous strikes a big hurdle in dispensation of justice urged the legal fraternity to abandon this routine. Justice Chaudhry was talking to a Punjab Bar Council delegation who visite
Published 19 Dec, 2010 12:00am
SECP registers eight foreign companies

SECP registers eight foreign companies

The Securities and Exchange Commission of Pakistan (SECP) registered eight companies having foreign investment in November. According to a statement issued by the Commission here on Monday said that in addition three foreign companies have also been regis
Published 19 Dec, 2010 12:00am
Gas supply schedule

Gas supply schedule

According to the decision of Load Management Committee meeting of SNGPL the gas supply to the industry will be according to the following plan. The gas supply to General Industry, EMCO, Bhiki & Ferozewattwan clusters and Shahdra area shall be suspended on
Published 19 Dec, 2010 12:00am
Five kids injured as school van hit by train

Five kids injured as school van hit by train

Five school-going children sustained injuries when a van was hit by a train at a gateless, unmanned level rail crossing, near Cantt station, here on Saturday morning. According to Faisalabad bound Pakistan express driver Mohammad Shafiq, there was low vis
Published 19 Dec, 2010 12:00am
TDAP launches web portal to link Pak-China traders

TDAP launches web portal to link Pak-China traders

The Trade Development Authority of Pakistan (TDAP) has on Saturday launched web portal to link businessmen and traders of Pakistan and China by providing information on various trade related issues. "The web portal would help businessmen to know about bus
Published 19 Dec, 2010 12:00am
Over 100,000 power looms remain closed for second day

Over 100,000 power looms remain closed for second day

More than 600 industrial units, including 100,000 power looms, remained closed on second consecutive day here Saturday, while 380 CNG station also remained closed on second day during the ongoing third week of the current month. As a result, 400,000 workf
Published 19 Dec, 2010 12:00am
'Punjab Food Authority 'to be set up in Punjab

'Punjab Food Authority 'to be set up in Punjab

The Punjab government has planned to set up 'Punjab Food Authority' to ensure availability of safe and wholesome food for human consumption to the masses in the province. In this connection, the Punjab Food Department has finalised draft of 'Punjab Food S
Published 19 Dec, 2010 12:00am
Restoration of gas supply sought

Restoration of gas supply sought

A member of Lahore High Court bar has approached LHC to direct the authorities to restore supply of gas without further delay. Petitioner Noshab A Khan contended that due to suspension of gas, gas stations are closing down. He also said the suspension has
Published 19 Dec, 2010 12:00am
Hoti to move judiciary against leasing of olive farms

Hoti to move judiciary against leasing of olive farms

Former Federal Minister and member of the National Assembly, Nawabzada Khawaja Mohammad Khan Hoti has announced moving superior judiciary against leasing precious olive farms at throw-away prices by the department of Auqaaf in Khyber Pakhtunkhwa.
Published 19 Dec, 2010 12:00am
Yuom-e-Ashur: role of Islamabad police, other LEAs lauded

Yuom-e-Ashur: role of Islamabad police, other LEAs lauded

The role of Islamabad Police and other law enforcement agencies was praised for maintaining peace in the Capital on Ashura-e-Muharram. As many as 7,500 policemen were deployed on security duty during Muharram-ul-Harram along with personnel of Frontier Con
Published 19 Dec, 2010 12:00am
Ashura observed in Sialkot, Narowal with due reverence

Ashura observed in Sialkot, Narowal with due reverence

Ashura, the 10th of Muharram was observed with reverence and devotion in Sialkot and Narowal districts on Friday. On this occasion, arrangements were made for maintaining law and order in the districts. Police, razakars and special police contingents esco
Published 19 Dec, 2010 12:00am
Efforts to maintain law, order commended

Efforts to maintain law, order commended

Efforts of the interior ministry, under the guidance of the interior minister, have borne result and security situation completely remained under control during Muharram-ul-Harram. This was sated by Mutahida Majlis-e-Ulema, Secretary Information Punjab, Q
Published 19 Dec, 2010 12:00am
Collective efforts for Muharram arrangements lauded

Collective efforts for Muharram arrangements lauded

Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA) North Zone, Chaudhry Salamat Ali has lauded collective efforts of the administration, police, ulema and civil society members due to which not even a single incident took place in any
Published 19 Dec, 2010 12:00am
Muharram-ul-Haram: Aulakh lauds collective efforts towards peace

Muharram-ul-Haram: Aulakh lauds collective efforts towards peace

Punjab Minister for Agriculture, Malik Ahmad Ali Aulakh has said that security arrangements made for Muharram-ul-Haram have proved successful and Youm-e-Ashor was observed in a peaceful manner for which valuable role of Ulema, traders, peace committees, m
Published 19 Dec, 2010 12:00am
Yaum-e-Ashur observed amid stringent security arrangements

Yaum-e-Ashur observed amid stringent security arrangements

The annual Muharram rituals concluded peacefully amid exceptional security arrangements on Friday, as devotees clad in black dress remembered the revered Imam Hussain (R.A) for his supreme sacrifices in Karbala. Hundreds of mourners also staged a few minu
Published 19 Dec, 2010 12:00am
Yaum-e-Ashur observed with religious zeal

Yaum-e-Ashur observed with religious zeal

Like other parts of the country, Youm-e-Ashur was observed with religious zeal and solemnity here on Friday. The main procession emanated from Qadam Gah Mola Ali in Garhi Khata in the morning. As many as 21 maatami anjumans (mourners' associations) took p
Published 19 Dec, 2010 12:00am
Police commended for maintaining security

Police commended for maintaining security

Capital City Police Officer (CCPO), Muhammad Aslam Tareen has directed Lahore police to not let their guard down and maintain highest level of preparedness and alertness in the current situation of law and order. The CCPO felicitated officers of Lahore po
Published 19 Dec, 2010 12:00am
Foolproof security arrangements praised

Foolproof security arrangements praised

No incident took place due to foolproof security plan during Youm-e-Ashur, several religious said talking to this scribe. There was a grenade attack in Peshawar, which left nine people injured but no terror related incident occurred anywhere in the countr
Published 19 Dec, 2010 12:00am
Beset with Hobson's choice

Beset with Hobson's choice

Is it a storm in a teacup, or has the JUI-F really upset the Zardari-Gilani applecart? Going by the fast-moving developments since Tuesday evening, when Maulana Fazlur Rehman announced quitting the coalition one could well be misled in to thinking that th
Published 19 Dec, 2010 12:00am
Pakistan-bashing Westerns

Pakistan-bashing Westerns

Pakistan-bashing sells well in India. Not unsurprisingly then, of late, some western leaders have beelined to India with wares packaged in anti-Pakistan disinformation and propaganda. French President Sarkozy was one such arrival last week, whose diatribe
Published 19 Dec, 2010 12:00am
The excluded areas' development tragedy

The excluded areas' development tragedy

At a reception recently, one of the guests asked me where was tweedledum when tweedledee [generally referred to as T+2] was visible. For the T+2 always were involved in something sinister. To me whatever T+2 do does not matter for what really matters is h
Published 19 Dec, 2010 12:00am
TAPI gas pipeline: a new energy corridor

TAPI gas pipeline: a new energy corridor

President Zardari's whirlwind tour of Turkmenistan has resulted in signing the TAPI gas pipeline project. Realising the importance of importing gas to fulfil the needs of a burgeoning industrial sector in Pakistan, the people's government has embarked on
Published 19 Dec, 2010 12:00am
India's forest protection laws start biting

India's forest protection laws start biting

India's forests, spread over an estimated 70 million hectares at the latest count, have long been at the centre of a development-versus-conservation debate in the rising Asian power. The forests are home not only to more than 100,000 species of flora and
Published 19 Dec, 2010 12:00am
Drone attacks: violation of territorial laws

Drone attacks: violation of territorial laws

Drone attacks on targets in the tribal areas as a vital part of the Obama administration's strategy to dismantle militant hideouts and strongholds has already been accelerated to an alarming degree in terms of frequency and the latest request by Washingto
Published 19 Dec, 2010 12:00am
Detrimental auto import policy

Detrimental auto import policy

The government has now allowed import of used vehicles of upto five years old. Instead of developing the local auto industry and enforcing acceleration of the deletion programme of auto manufacturers, the government has decided to waste precious foreign e
Published 19 Dec, 2010 12:00am
Copper hits record high, Coast unrest lifts cocoa

Copper hits record high, Coast unrest lifts cocoa

Copper prices struck fresh record highs this week, helped by tight supplies of the industrial metal, while cocoa futures rallied on violent unrest in major producer Ivory Coast.
Published 19 Dec, 2010 12:00am
Strong demand, liquidity to power copper

Strong demand, liquidity to power copper

Healthy demand from top consumer China and an excess of money market liquidity are expected to propel prices of industrial metal copper to record highs of $10,000 a tonne or above. The latest trigger for the surge came on Friday as investors piled in afte
Published 19 Dec, 2010 12:00am
Indonesia sees rubber exports up 7-8 percent

Indonesia sees rubber exports up 7-8 percent

Indonesia's rubber association said on Thursday it saw rubber exports rising 7-8 percent in 2011 from 2.4 million tonnes this year, in line with its forecast for production growth next year, though it said weather anomalies could hurt supply.
Published 19 Dec, 2010 12:00am
US gold ends strong as investors seek safe assets

US gold ends strong as investors seek safe assets

US gold futures turned higher in late Friday trade, moving back to the top of the session range, as some investors returned to the yellow metal as a safe-haven play when the euro fell in reaction to Moody's downgraded Ireland's debt rating.
Published 19 Dec, 2010 12:00am
Thai white sugar steadies, more Indian goods eyed

Thai white sugar steadies, more Indian goods eyed

Premiums for Thai white sugar held steady around $50 this week, but there were hardly any deals as consumers waited for more Indian goods to enter the market after New Delhi allowed unrestricted exports of half a million tonnes of the sweetener. While pla
Published 19 Dec, 2010 12:00am
Asian rice prices soft as new grain due in Thailand, Vietnam

Asian rice prices soft as new grain due in Thailand, Vietnam

Rice trading slowed down in Asia this week as buyers waited for prices in the world's top exporters to drop, with Thailand's harvest about to pick up pace and Vietnam's new crop due in early 2011, traders said. Thai farmers are about to accelerate harvest
Published 19 Dec, 2010 12:00am
Sri Lanka's tea output down 8.9 percent on bad weather

Sri Lanka's tea output down 8.9 percent on bad weather

Sri Lanka's tea production in November fell 8.9 percent year-on-year due to heavy rain but rose 14.2 percent in the first 11 months of 2010 from a year earlier, the state-run tea board said on Friday. Tea output in November dipped to 26.67 million kg from
Published 19 Dec, 2010 12:00am
China's 2010 corn output revised up

China's 2010 corn output revised up

China's corn output in 2010 was estimated at a record 172.5 million tonnes, a 5.2 percent increase over last year, the latest estimate by the China National Grain and Oils Information Centre (CNGOIC) showed. But still the surplus may not be enough given t
Published 19 Dec, 2010 12:00am
New York cotton nears record

New York cotton nears record

US cotton futures rose nearly 3 percent to settle at a one-month peak and near record highs on Friday as speculators plowed into the market on the notion it had run out of new supply in the near-term. "Basically, the projection is that there's very little
Published 19 Dec, 2010 12:00am
Tunisia plans grain import liberalisation

Tunisia plans grain import liberalisation

Tunisia is planning a gradual liberalisation of wheat and barley imports, which are now subject to a state monopoly, an official with the state grains agency told Reuters on Tuesday. The plan to allow a role for private wheat importers appeared to be part
Published 19 Dec, 2010 12:00am
Extreme weather sparks global commodities rally

Extreme weather sparks global commodities rally

Around the globe, the weather has turned extreme, driving up prices for commodities running the gamut from sugar and wheat to heating oil and orange juice. Australia, for instance, is suffering from both extremes - with drought in the west and deluges in
Published 19 Dec, 2010 12:00am
Defiant Gbagbo orders UN out of Ivory Coast

Defiant Gbagbo orders UN out of Ivory Coast

Defiant Ivory Coast leader Laurent Gbagbo ordered UN and French peacekeepers out of the country on Saturday, accusing them of backing rebel fighters supporting his rival Alassane Ouattara. The demand reflected mounting anger towards the international comm
Published 19 Dec, 2010 12:00am
South Korea set for live-fire drills

South Korea set for live-fire drills

South Korean marines were poised on Saturday to conduct a live-fire drill off the west coast despite a threat by the North to launch a new strike and Beijing's call for restraint from the rival states. A US troubleshooter, Governor Bill Richardson of New
Published 19 Dec, 2010 12:00am
China to lease North Korean islands for free trade zone

China to lease North Korean islands for free trade zone

China is planning to lease two North Korean river islands on its border with the isolated country to set up free trade zones and tourism, Japan's Asahi Daily reported Friday. China plans to build factories to make beverages and other products, while North
Published 19 Dec, 2010 12:00am
Iraq offers Iran anti-terror help

Iraq offers Iran anti-terror help

Iraqi Interior Minister Jawad al-Bolani offered Tehran his ministry's support and experience in fighting terror Friday, just days after a suicide bomber killed 34 people in south-eastern Iran. Bolani, who is hoping to keep his job when Prime Minister-desi
Published 19 Dec, 2010 12:00am
Assange fears US charges

Assange fears US charges

WikiLeaks founder Julian Assange said it was "increasingly likely" the US would try to extradite him on charges related to leaked cables as he savoured his first day on bail. Speaking Friday outside Ellingham Hall, a friend's mansion in eastern England, w
Published 19 Dec, 2010 12:00am
WikiLeaks makes diplomacy difficult: Ban

WikiLeaks makes diplomacy difficult: Ban

Secretary-General Ban Ki-moon said Friday that WikiLeaks' release of US diplomatic documents will make the conduct of business, and especially diplomacy, "very difficult." "It's unfortunate that these confidential documents have been leaked," the UN chief
Published 19 Dec, 2010 12:00am
US touted Bollywood stars to help Afghanistan

US touted Bollywood stars to help Afghanistan

US diplomats suggested stars of India's hugely popular Hindi-language film industry could be sent to Afghanistan to help stabilise the troubled country, according to a leaked cable published Friday.
Published 19 Dec, 2010 12:00am
Bolivia recognises Palestine as independent state

Bolivia recognises Palestine as independent state

Bolivia recognised Palestine as an independent state Friday, following the lead of Brazil, Argentina and Uruguay. Bolivian President Evo Morales said his government would send a letter to Mahmud Abbas, president of the Palestinian Authority, recognising P
Published 19 Dec, 2010 12:00am
Bangladeshi engineer killed in Afghanistan

Bangladeshi engineer killed in Afghanistan

Kidnappers killed a Bangladeshi engineer working in Afghanistan and abducted two road workers after storming their camp at gunpoint, officials said Saturday. The incident happened in the north, where Taliban insurgents are increasingly active as Nato has
Published 19 Dec, 2010 12:00am
French marine killed in Afghanistan

French marine killed in Afghanistan

A French marine was killed in Afghanistan overnight, bringing France's toll to 52 since the conflict began in 2001, President Nicolas Sarkozy's office said Saturday. The warrant officer was killed and a colleague wounded during an operation in the Bedraou
Published 19 Dec, 2010 12:00am
Germany at war in Afghanistan: Merkel

Germany at war in Afghanistan: Merkel

German Chancellor Angela Merkel said Saturday for the first time that German troops were fighting a war in Afghanistan, as she addressed them on a surprise visit to the country, reporters with her said. Her office said that she had arrived in Kunduz in no
Published 19 Dec, 2010 12:00am
US House approves billions for wars without debate

US House approves billions for wars without debate

The US House of Representatives on Friday passed legislation that authorises the Defence Department to spend nearly $160 billion on the wars in Iraq and Afghanistan this budget year without major restrictions on the conduct of operations.
Published 19 Dec, 2010 12:00am
Venezuela assembly gives Chavez decree powers

Venezuela assembly gives Chavez decree powers

Venezuela's parliament gave President Hugo Chavez the power to rule by decree for 18 months on Friday, outraging opponents who accuse him of turning South America's biggest oil producer into a dictatorship.
Published 19 Dec, 2010 12:00am
Heavy snow hits air travel, roads across Europe

Heavy snow hits air travel, roads across Europe

Blizzards and freezing temperatures shut down runways, train tracks and highways across Europe on Saturday, disrupting flights and leaving shivering drivers stranded on roadsides. Airports in Britain, Germany, France, Spain, the Netherlands and Denmark re
Published 19 Dec, 2010 12:00am
Afghan war review 'brutally honest': Mullen

Afghan war review 'brutally honest': Mullen

The top US military officer defended the country's Afghan war review against critics on Friday, insisting it had been "brutally" honest. Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, told a press conference in Kabul that the United States wa
Published 19 Dec, 2010 12:00am
Embattled Kyrgyzstan names new government, premier

Embattled Kyrgyzstan names new government, premier

The Kyrgyz parliament on Friday approved the formation of a new coalition government of nationalists and centrist forces to rule Central Asia's first parliamentary democracy after a year of violence. In a late evening vote after hours of debate, the Zhogo
Published 19 Dec, 2010 12:00am
France, Germany, UK, others urge EU budget freeze

France, Germany, UK, others urge EU budget freeze

Britain, France, Germany, Finland and the Netherlands called on Saturday for the EU budget to be frozen until at least 2020, in a joint letter to the European Commission. The letter, addressed to European Commission President Jose Manuel Barroso, said tha
Published 19 Dec, 2010 12:00am
Spanish unions protest retirement reform

Spanish unions protest retirement reform

Tens of thousands of Spanish workers staged strikes in 40 cities Saturday to protest state plans to up the retirement age to slash public deficit, the highest in the eurozone after Greece and Ireland. The strikers gathered in central Madrid carrying red f
Published 19 Dec, 2010 12:00am
New Spanish bullet train link opened

New Spanish bullet train link opened

Spain's king inaugurated Saturday the country's latest high-speed rail service linking Madrid with the Mediterranean port city of Valencia. The $16.4 billion project connects the capital to country's third largest city and is due to complete the 352 kilom
Published 19 Dec, 2010 12:00am
US states sue Bank of America for mortgage fraud

US states sue Bank of America for mortgage fraud

The US states of Arizona and Nevada filed lawsuits against Bank of America on Friday accusing it of defrauding cash-strapped homeowners amid the global economic downturn. The legal action was triggered after hundreds of complaints and a year-long investig
Published 19 Dec, 2010 12:00am
Mugabe threatens nationalisation of British, US firms

Mugabe threatens nationalisation of British, US firms

Zimbabwean President Robert Mugabe on Friday threatened to nationalise British and American companies if a slew of international sanctions against him and his inner circle were not dropped. The veteran leader told the annual conference of his ZANU-PF part
Published 19 Dec, 2010 12:00am
US awards $1.3 billion loan guarantee to wind project

US awards $1.3 billion loan guarantee to wind project

The US Department of Energy has finalised a $1.3 billion loan guarantee to help finance the Caithness Shepherds Flat project, an 845-megawatt wind generation facility in eastern Oregon sponsored by Caithness Energy, LLC and GE Energy Financial Services. T
Published 19 Dec, 2010 12:00am
Dubai sells stake in Nasdaq OMX to repay debt

Dubai sells stake in Nasdaq OMX to repay debt

Borse Dubai, a majority stake-holder of Dubai Financial Market, has sold a 672 million-dollar share of its stake in Nasdaq OMX to help repay a 2.45 billion-dollar loan that matures in February. The company sold 22.78 million shares for 497 million dollars
Published 19 Dec, 2010 12:00am
Iran trims petrol ration, first step in subsidy cut

Iran trims petrol ration, first step in subsidy cut

Iran has reduced the ration of heavily subsidised gasoline motorists can buy each month, an official said on Saturday, in a tentative first step towards slashing long-standing government price supports. Iranians have been expecting a big rise in the price
Published 19 Dec, 2010 12:00am
EU and US vow to fine-tune trade regulations

EU and US vow to fine-tune trade regulations

The United States and the European Union Friday vowed to cut back on trade barriers and hammer out a better definition of joint regulations, aiming to boost jobs amid a stagnant global economy. "The more I do with respect to trade, the more I'm convinced
Published 19 Dec, 2010 12:00am
Intel's $7.68 billion McAfee bid raises EU concern

Intel's $7.68 billion McAfee bid raises EU concern

Intel Corp 's $7.68 billion deal to buy security-software specialist McAfee Inc is running into close scrutiny from European officials that could delay the transaction, the Wall Street Journal reported on Friday.
Published 19 Dec, 2010 12:00am
IMF releases Greek loan, warns on growth

IMF releases Greek loan, warns on growth

The International Monetary Fund on Friday released a 2.5-billion-euro loan for Greece, as it warned of yet more economic pain ahead for the debt-ravaged nation. Amid a brutal recession, sky-high borrowing costs and draconian budget savings, the IMF said g
Published 19 Dec, 2010 12:00am
GM recalls 100,000 US vehicles

GM recalls 100,000 US vehicles

GM recalled nearly 100,000 vehicles Friday, after finding a fault that could cause the seatbelt to fail. The US automaker warned the buckle anchor could break in the event of a crash, meaning the belt would not act as a restraint. The recall affects 2011
Published 19 Dec, 2010 12:00am
US retailers hope big Saturday will clinch season

US retailers hope big Saturday will clinch season

Nora Fresse is just the type of shopper US retailers hope will help them seal the best holiday shopping season in three years this weekend. "I haven't done any, actually," Fresse said this week at a Kohl's Corp department store in New Jersey, when asked a
Published 19 Dec, 2010 12:00am
Honda recalls 36,000 vehicles in US

Honda recalls 36,000 vehicles in US

Honda on Friday announced the recall of nearly 36,000 vehicles in the United States because of a defect which could lead to excessive corrosion in areas where road salt is used extensively. "In areas where road salt is extensively used, the forward mounti
Published 19 Dec, 2010 12:00am
Hussey's name in Ashes history book: Australia set to level series

Hussey's name in Ashes history book: Australia set to level series

A resurgent Australia looked set to level the Ashes after a century by the reborn Mike Hussey in the third Test against England at the WACA Ground on Saturday. At stumps on the third day, England were in disarray at 81-5 in their second innings, chasing 3
Published 19 Dec, 2010 12:00am
National Futsal Championship postponed

National Futsal Championship postponed

The National Futsal Championship, which was to be held at Liaquat Gymnasium Hall Islamabad from 21st-25th December has been postponed. "The Championship has been postponed due to soccer event of 31st National Games, which will be played from 25th-29th Dec
Published 19 Dec, 2010 12:00am
Security manager resigns

Security manager resigns

The Pakistan cricket team's security manager has resigned. Khawaja Najam Javed told The Associated Press on Saturday that he handed his resignation to Pakistan Cricket Board chairman Ijaz Butt on December 14 because of "differences of opinion with him."
Published 19 Dec, 2010 12:00am
Title race on ice as snow blankets Premier League

Title race on ice as snow blankets Premier League

Heavy snow and freezing temperatures wreaked havoc with the Premier League on Saturday, all but wiping out the fixture list and putting the title race on ice. Arsenal were denied the chance to regain top spot after their match against Stoke at the Emirate
Published 19 Dec, 2010 12:00am
Aasma named vice caption of women football team

Aasma named vice caption of women football team

Punjab University Hailey College of Banking & Finance (HCBF) player Aasma Usman Khan has been appointed as Vice-Captain of Pakistani Women Football team. The team will participate in Women Football Championship being organised by Saarc countries football
Published 19 Dec, 2010 12:00am
Former Spurs and Burnley great Coates dies

Former Spurs and Burnley great Coates dies

Former England and Tottenham midfielder Ralph Coates has died aged 64 following a stroke, his agent said on Friday. Coates won four England caps and also netted the winner for Spurs in their 1973 League Cup final win against Norwich. Earlier, he had playe
Published 19 Dec, 2010 12:00am
India fight after Kallis, De Villiers help set huge task

India fight after Kallis, De Villiers help set huge task

After taking a battering for two days, India finally put up some resistance with a solid start to their second innings on the third day of the first Test against South Africa at SuperSport Park on Saturday. Faced with a massive first innings deficit of 48
Published 19 Dec, 2010 12:00am
Gyan tops BBC African Footballer of the Year poll

Gyan tops BBC African Footballer of the Year poll

Ghana World Cup hero-cum-villain Asamoah Gyan was crowned BBC African Footballer of the Year Friday after receiving more than half the public poll votes. Compatriot Andre 'Dede' Ayew, Ivorians Didier Drogba and Yaya Toure and Cameroonian Samuel Eto'o were
Published 19 Dec, 2010 12:00am
India name uncapped Rahane in World Cup squad

India name uncapped Rahane in World Cup squad

Middle-order batsman Ajinkya Rahane was the lone uncapped cricketer in India's 30-member preliminary squad for next year's World Cup, the Indian cricket board announced on Saturday. The squad, which will be pruned to 15 players before January 19, contains
Published 19 Dec, 2010 12:00am
Kenyan shilling stable

Kenyan shilling stable

Kenyan shilling was barely changed against the dollar, while the shares slid nearly 1 percent on Friday as retail investors sold to get funds to spend over the holidays. In the currency market, the Kenyan shilling barely moved against the dollar and trade
Published 19 Dec, 2010 12:00am
Forex outlook: markets still euro-focused; further losses seen

Forex outlook: markets still euro-focused; further losses seen

The euro is likely to struggle anew in the upcoming week as markets remain fearful about sovereign debt issues in the peripheral euro zone economies, and investors are well-advised to be short the currency going into 2011. A five-notch downgrade of Irelan
Published 19 Dec, 2010 12:00am
Euro slips after Moody's slashes Ireland's rating

Euro slips after Moody's slashes Ireland's rating

The euro fell against the dollar on Friday and looked set to extend losses after a multi-notch downgrade of Ireland's credit rating overshadowed solid German economic data and underscored the severity of the euro zone debt crisis.
Published 19 Dec, 2010 12:00am
Key Euribor rate falls as excess cash builds

Key Euribor rate falls as excess cash builds

Key euro-priced bank-to-bank lending rates ticked down on Thursday as the level of excess cash in money markets hit a 3-month high ahead of the repayment of the European Central Bank's third and final portion of 1-year loans at the end of the month.
Published 19 Dec, 2010 12:00am
Most African currencies seen stable

Most African currencies seen stable

The Nigerian naira could weaken to its lowest level this year next week with no more central bank forex auctions scheduled, but other African currencies are seen stable or stronger as the holiday season approaches.
Published 19 Dec, 2010 12:00am
Canadian dollar slides for second session

Canadian dollar slides for second session

The Canadian dollar ended lower against the US currency for a second straight session on Friday as investors trained their focus on the troubles in the euro zone, which spurred a flight to safety to the US dollar. Canada's currency fell as low as C$1.0147
Published 19 Dec, 2010 12:00am
Wall Street ends flat

Wall Street ends flat

Wall Street closed flat on Friday after a day of range-bound trade as President Barack Obama signed into law a sweeping tax cuts bill aimed at boosting the economy. The Dow Jones Industrial Average slipped 7.34 points (0.06 percent) to close at 11,491.91,
Published 19 Dec, 2010 12:00am
Looming junk maturities may cause rise in defaults

Looming junk maturities may cause rise in defaults

Moody's ratings agency warns that a massive wall of speculative-grade debt maturing in the coming years could contribute to an uptick in US speculative-grade defaults. The 182 companies rated B3 negative and lower by Moody's face more than USD100bn of mat
Published 19 Dec, 2010 12:00am
Looming junk maturities may cause rise in defaults

Looming junk maturities may cause rise in defaults

Moody's ratings agency warns that a massive wall of speculative-grade debt maturing in the coming years could contribute to an uptick in US speculative-grade defaults. The 182 companies rated B3 negative and lower by Moody's face more than USD100bn of mat
Published 19 Dec, 2010 12:00am
Nigeria raises 70 billion naira in sovereign bonds

Nigeria raises 70 billion naira in sovereign bonds

Nigeria sold 70 billion naira ($457.9 million) in 20-year, 5-year and 3-year sovereign bonds at its last debt auction of the year, the Debt Management Office (DMO) said on Thursday. The debt office sold 25 billion naira in the 20-year, 20 billion naira in
Published 19 Dec, 2010 12:00am
Nigeria raises 70 billion naira in sovereign bonds

Nigeria raises 70 billion naira in sovereign bonds

Nigeria sold 70 billion naira ($457.9 million) in 20-year, 5-year and 3-year sovereign bonds at its last debt auction of the year, the Debt Management Office (DMO) said on Thursday. The debt office sold 25 billion naira in the 20-year, 20 billion naira in
Published 19 Dec, 2010 12:00am
US Treasury Outlook: ride the rebound, be ready to jump off

US Treasury Outlook: ride the rebound, be ready to jump off

The nifty two-day rebound in the US Treasuries market should have more room to go with the Federal Reserve asserting its purchasing power next week, but analysts warn the run-up could be short-lived. On Friday, benchmark Treasury yields fell in back-to-ba
Published 19 Dec, 2010 12:00am
US Treasury Outlook: ride the rebound, be ready to jump off

US Treasury Outlook: ride the rebound, be ready to jump off

The nifty two-day rebound in the US Treasuries market should have more room to go with the Federal Reserve asserting its purchasing power next week, but analysts warn the run-up could be short-lived. On Friday, benchmark Treasury yields fell in back-to-ba
Published 19 Dec, 2010 12:00am
China's yield curve flattens on weekend RRR jitters

China's yield curve flattens on weekend RRR jitters

China's short-term market rates jumped but long-term yields remained stable on Friday, causing the yield curve to flatten sharply as the market factored in another bank reserve requirement ratio (RRR) rise at the weekend.
Published 19 Dec, 2010 12:00am
China's yield curve flattens on weekend RRR jitters

China's yield curve flattens on weekend RRR jitters

China's short-term market rates jumped but long-term yields remained stable on Friday, causing the yield curve to flatten sharply as the market factored in another bank reserve requirement ratio (RRR) rise at the weekend.
Published 19 Dec, 2010 12:00am
Spain's public debt rose to 10-year record

Spain's public debt rose to 10-year record

Spain's public debt rose to a 10-year record and bad bank loans struck a 14-year high, central bank figures showed Friday, as the country battles market fears it may be the next to seek a bailout. The public debt rose 16.3 percent to 611.2 billion euros (
Published 19 Dec, 2010 12:00am
Spain's public debt rose to 10-year record

Spain's public debt rose to 10-year record

Spain's public debt rose to a 10-year record and bad bank loans struck a 14-year high, central bank figures showed Friday, as the country battles market fears it may be the next to seek a bailout. The public debt rose 16.3 percent to 611.2 billion euros (
Published 19 Dec, 2010 12:00am
Lloyds raises cost of Irish bad debts

Lloyds raises cost of Irish bad debts

Britain's Lloyds Banking Group said Friday it expected bad Irish loans to cost the lender 4.3 billion pounds (5.0 billion euros, 6.7 billion dollars), nearly three times an earlier estimate. State-rescued LBG had put the cost at 1.557 billion pounds earli
Published 19 Dec, 2010 12:00am
Lloyds raises cost of Irish bad debts

Lloyds raises cost of Irish bad debts

Britain's Lloyds Banking Group said Friday it expected bad Irish loans to cost the lender 4.3 billion pounds (5.0 billion euros, 6.7 billion dollars), nearly three times an earlier estimate. State-rescued LBG had put the cost at 1.557 billion pounds earli
Published 19 Dec, 2010 12:00am
US IPO activity seen steady with bigger deals

US IPO activity seen steady with bigger deals

More than twice as many companies have gone public in the United States this year compared with last year, suggesting that investors are edging back into riskier assets. Analysts and investors say overall IPO activity might not show such increases next ye
Published 19 Dec, 2010 12:00am
Toronto stocks index rises

Toronto stocks index rises

Toronto's main stock index finished higher on Friday, bolstered by strength in resource issues and Research In Motion, but a retreat by Bank of Montreal helped temper the gains. Six of the TSX's 10 main groups advanced, with materials and energy issues cl
Published 19 Dec, 2010 12:00am
New emerging debt not to top this year's record

New emerging debt not to top this year's record

Emerging market debt issuance is likely to fall in 2011 from this year's record levels, as competition from euro zone borrowers and rising US Treasury yields sap demand for the asset class and raise funding costs. Emerging market borrowers issued a record
Published 19 Dec, 2010 12:00am
New emerging debt not to top this year's record

New emerging debt not to top this year's record

Emerging market debt issuance is likely to fall in 2011 from this year's record levels, as competition from euro zone borrowers and rising US Treasury yields sap demand for the asset class and raise funding costs. Emerging market borrowers issued a record
Published 19 Dec, 2010 12:00am
Denmark to issue new 10-year bonds

Denmark to issue new 10-year bonds

Denmark will replace key on-the-run government bonds with new 2, 5 and 10-year maturities in 2011 and will continue its treasury bill programme to meet its funding needs, the central bank said on Thursday. The government's domestic financing requirement i
Published 19 Dec, 2010 12:00am
Denmark to issue new 10-year bonds

Denmark to issue new 10-year bonds

Denmark will replace key on-the-run government bonds with new 2, 5 and 10-year maturities in 2011 and will continue its treasury bill programme to meet its funding needs, the central bank said on Thursday. The government's domestic financing requirement i
Published 19 Dec, 2010 12:00am
JGBs rally, recovery flows eyed

JGBs rally, recovery flows eyed

Japanese government bonds rallied on Friday, with futures surging nearly a full point on the back of hopes that battered US Treasuries had finally bottomed out after a sharp sell-off this week. JGB yields plunged across the board amid the growing optimism
Published 19 Dec, 2010 12:00am
JGBs rally, recovery flows eyed

JGBs rally, recovery flows eyed

Japanese government bonds rallied on Friday, with futures surging nearly a full point on the back of hopes that battered US Treasuries had finally bottomed out after a sharp sell-off this week. JGB yields plunged across the board amid the growing optimism
Published 19 Dec, 2010 12:00am
Bank of America says cuts off WikiLeaks

Bank of America says cuts off WikiLeaks

Bank of America was quoted as saying late on Friday that it was joining other financial institutions in declining to process payments to WikiLeaks, which has angered US authorities with the mass release of US diplomatic cables.
Published 19 Dec, 2010 12:00am
US closes six banks; 2010 failures now 157

US closes six banks; 2010 failures now 157

US authorities closed six more banks on Friday, bringing the number of closures so far this year to 157 as the aftermath of the 2007-2009 financial crisis continued to take a toll. Smaller financial institutions, in particular, continue to feel the impact
Published 19 Dec, 2010 12:00am
Estate of Madoff insider settles $7.2 billion claim

Estate of Madoff insider settles $7.2 billion claim

The estate of Jeffry Picower settled a $7.2 billion lawsuit filed by the Madoff firm trustee, significantly increasing the amount available to repay investors swindled in the epic fraud, US officials said on Friday. Picower, who died of a heart attack in
Published 19 Dec, 2010 12:00am
German taxman recovers 1.6 billion euros from secret accounts

German taxman recovers 1.6 billion euros from secret accounts

German tax authorities recovered 1.6 billion euros this year from citizens who had stashed their cash in secret accounts in Liechtenstein and Switzerland, according to the weekly Der Spiegel. They hope to claw back another 200 million (260 million dollars
Published 19 Dec, 2010 12:00am
UAE's Etisalat to cut three percent of staff

UAE's Etisalat to cut three percent of staff

Etisalat will cut about three percent of its staff, aiming to reduce costs as it faces greater competition in domestic markets, the UAE telecoms operator said in remarks published on Saturday. The United Arab Emirates market leader in the Gulf Arab countr
Published 19 Dec, 2010 12:00am
Cambodia aims to double trade with China in five years

Cambodia aims to double trade with China in five years

Cambodia and China have pledged to double bilateral trade to $2.5 billion in five years, driven largely by agriculture, mining and hydro power, the Cambodian government said, underscoring their tightening ties. Cambodia's Foreign Minister Hor Namhong made
Published 19 Dec, 2010 12:00am
Snow helps EU wheat in cold spell

Snow helps EU wheat in cold spell

Snowfall has helped young wheat plants withstand a spell of freezing weather in the European Union's top two producers, France and Germany, but is contributing to sowing delays that could curb Italy's next crop. Forecasters are expecting farmers to sow mo
Published 19 Dec, 2010 12:00am
Tightening measures curb China's steel demand

Tightening measures curb China's steel demand

China steel demand will be affected by a slew of measures taken by the government to tighten liquidity and curb inflation, the China Iron & Steel Association (CISA) said in its monthly report on Friday. CISA also said that restrictions on steel production
Published 19 Dec, 2010 12:00am
US wheat futures up

US wheat futures up

US wheat futures gained about 1 percent in Asia on Friday on the back of forecasts that Australia can expect a wetter-than-normal summer, raising fresh concerns of crop damage. The gains partially offset an overnight tumble in wheat prices blamed on a bea
Published 19 Dec, 2010 12:00am
Soyabean premiums flat

Soyabean premiums flat

Soyabean export premiums at the US Gulf Coast were flat on Thursday as demand for shipments in the current marketing year remained sluggish, traders said. Chinese demand for near-term shipments muted due to poor crush margins at Chinese soya plants and am
Published 19 Dec, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 187,796 tonnes of cargo including 155,952 tonnes of import cargo, 31,844 tonnes of export cargo during last 48 hours ended at 0700 hours on Saturday. The total import cargo of 155,952 tonnes comprised of 8,497 tonnes of containeri
Published 19 Dec, 2010 12:00am
China's animal feed output seen up

China's animal feed output seen up

China's animal feed production is likely to reach 156 million tonnes in 2010, the China Feed Industry Association said. The output projection, which is 5 percent higher than the output level in 2009, was in line with an earlier estimate given by a senior
Published 19 Dec, 2010 12:00am
EU cleared 353,000 tonnes of wheat for exports

EU cleared 353,000 tonnes of wheat for exports

The European Union this week granted export licences for 353,000 tonnes of soft wheat, taking the total since the beginning of the 2010/11 (July-June) season to 10.6 million tonnes, official data showed on Thursday. The total so far this season compared w
Published 19 Dec, 2010 12:00am
Lacklustre post-holiday session seen on cotton market

Lacklustre post-holiday session seen on cotton market

No business activity was seen on the cotton market amid post-holiday session on Saturday and the official spot rate retained the last level, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs 9,100. Seed cotton prices in Sind
Published 19 Dec, 2010 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the wholesales grain and seed market on Saturday as market was closed for unknown reason.
Published 19 Dec, 2010 12:00am
Message from President of Pakistan

Message from President of Pakistan

On behalf of the government and the people of Pakistan I wish to extend heartiest welcome to Premier Wen Jiabao and members of his delegation on their visit to Pakistan. I also wish to convey my best wishes to the people of China on this memorable occasio
Published 19 Dec, 2010 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

It is a matter of immense pleasure and deep satisfaction that Pak- China bilateral relations have moved from strength to strength over the past decades. Pak-China friendship, aptly described as higher than Himalayas and deeper than the oceans, is all-weat
Published 19 Dec, 2010 12:00am
The Exemplary Friendship

The Exemplary Friendship

The long standing diplomatic relations between Pakistan and China established on 21 May 1951-in the wake of Mao Tse Tung's take over have withstood the test of time and grown into an enduring, multifaceted, deep-rooted friendship which would perhaps requi
Published 19 Dec, 2010 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 19 Dec, 2010 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 19 Dec, 2010 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (December 18, 2010).
Published 19 Dec, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
THE RUPEE: steady trend observed

THE RUPEE: steady trend observed

The rupee ended the week on a firm note despite the strong buying of the US currency as all the banks were closed for two days due to Muharram holidays, dealers said on the currency market on Saturday. The rupee posted fresh gain of six paisa versus dolla
Published 19 Dec, 2010 12:00am
THE RUPEE: steady trend observed

THE RUPEE: steady trend observed

The rupee ended the week on a firm note despite the strong buying of the US currency as all the banks were closed for two days due to Muharram holidays, dealers said on the currency market on Saturday. The rupee posted fresh gain of six paisa versus dolla
Published 19 Dec, 2010 12:00am
Violence mars Ashura in Saudi Arabia

Violence mars Ashura in Saudi Arabia

A Saudi security official says violent clashes broke out between residents of the holy city of Medina on the day of Ashura. The official refused to elaborate on the cause of Thursday's clashes but said security forces were deployed to disperse the crowds.
Published 19 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Violence mars Ashura in Saudi Arabia

Violence mars Ashura in Saudi Arabia

A Saudi security official says violent clashes broke out between residents of the holy city of Medina on the day of Ashura. The official refused to elaborate on the cause of Thursday's clashes but said security forces were deployed to disperse the crowds.
Published 19 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Ashura attacks kill nine in Hangu

Ashura attacks kill nine in Hangu

A mortar attack killed nine people, including women and children, in Hangu on Friday as Shia Muslims marked Ashura, police said. They were fired from the neighbouring district of Orakzai. "It was a sectarian attack. A total of four mortars were fired. The
Published 19 Dec, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Ashura attacks kill nine in Hangu

Ashura attacks kill nine in Hangu

A mortar attack killed nine people, including women and children, in Hangu on Friday as Shia Muslims marked Ashura, police said. They were fired from the neighbouring district of Orakzai. "It was a sectarian attack. A total of four mortars were fired. The
Published 19 Dec, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Rahul Gandhi warned US of Hindu extremist threat: WikiLeaks

Rahul Gandhi warned US of Hindu extremist threat: WikiLeaks

Rahul Gandhi, widely seen as an Indian prime minister-in-waiting, believes Hindu extremists may be a greater threat to his country than Islamist militants, a leaked US diplomatic cable said Friday. Gandhi, scion of India's Nehru-Gandhi political dynasty,
Published 19 Dec, 2010 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Rahul Gandhi warned US of Hindu extremist threat: WikiLeaks

Rahul Gandhi warned US of Hindu extremist threat: WikiLeaks

Rahul Gandhi, widely seen as an Indian prime minister-in-waiting, believes Hindu extremists may be a greater threat to his country than Islamist militants, a leaked US diplomatic cable said Friday. Gandhi, scion of India's Nehru-Gandhi political dynasty,
Published 19 Dec, 2010 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
CIA station chief pulled back from Islamabad after threats

CIA station chief pulled back from Islamabad after threats

The CIA's top spy in Pakistan, who helps oversee drone strikes against militants, has been forced to leave the country amid threats to his life, a US intelligence official said on Friday. The official did not provide further details about the abrupt depar
Published 19 Dec, 2010 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
CIA station chief pulled back from Islamabad after threats

CIA station chief pulled back from Islamabad after threats

The CIA's top spy in Pakistan, who helps oversee drone strikes against militants, has been forced to leave the country amid threats to his life, a US intelligence official said on Friday. The official did not provide further details about the abrupt depar
Published 19 Dec, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Summit to boost economic ties: Hafeez

Summit to boost economic ties: Hafeez

To boost Pak-China economic activities in various sectors, the Board of Investment (BoI) on Saturday hosted a Business Corporation Summit here which was attended by almost 260 Chinese delegates and 150 Pakistani businessmen. Inaugurating the summit, Finan
Published 19 Dec, 2010 12:00am
Summit to boost economic ties: Hafeez

Summit to boost economic ties: Hafeez

To boost Pak-China economic activities in various sectors, the Board of Investment (BoI) on Saturday hosted a Business Corporation Summit here which was attended by almost 260 Chinese delegates and 150 Pakistani businessmen. Inaugurating the summit, Finan
Published 19 Dec, 2010 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Summit to boost economic ties: Hafeez

Summit to boost economic ties: Hafeez

To boost Pak-China economic activities in various sectors, the Board of Investment (BoI) on Saturday hosted a Business Corporation Summit here which was attended by almost 260 Chinese delegates and 150 Pakistani businessmen. Inaugurating the summit, Finan
Published 19 Dec, 2010 12:00am
Pak-China friendship higher than mountains, deeper than oceans: Zardari

Pak-China friendship higher than mountains, deeper than oceans: Zardari

President Asif Ali Zardari has said that Pak-China friendship is higher than mountains and deeper than oceans as people of both countries stand shoulder to shoulder through every trial. Speaking at a banquet hosted for the visiting Chinese Prime Minister,
Published 19 Dec, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Pak-China friendship higher than mountains, deeper than oceans: Zardari

Pak-China friendship higher than mountains, deeper than oceans: Zardari

President Asif Ali Zardari has said that Pak-China friendship is higher than mountains and deeper than oceans as people of both countries stand shoulder to shoulder through every trial. Speaking at a banquet hosted for the visiting Chinese Prime Minister,
Published 19 Dec, 2010 12:00am
Pakistan, China to exchange capital market information

Pakistan, China to exchange capital market information

The Securities and Exchange Commission of Pakistan (SECP) and China Securities Regulatory Commission (CSRC) have signed a memorandum of understanding (MoU) to exchange information on investment companies, brokerage houses, take-overs/mergers of listed com
Published 19 Dec, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
Pakistan, China to exchange capital market information

Pakistan, China to exchange capital market information

The Securities and Exchange Commission of Pakistan (SECP) and China Securities Regulatory Commission (CSRC) have signed a memorandum of understanding (MoU) to exchange information on investment companies, brokerage houses, take-overs/mergers of listed com
Published 19 Dec, 2010 12:00am
Pakistan, China to exchange capital market information

Pakistan, China to exchange capital market information

The Securities and Exchange Commission of Pakistan (SECP) and China Securities Regulatory Commission (CSRC) have signed a memorandum of understanding (MoU) to exchange information on investment companies, brokerage houses, take-overs/mergers of listed com
Published 19 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
SBP grants licence to ICBC

SBP grants licence to ICBC

The State Bank of Pakistan (SBP) has granted licence to a Chinese Bank "Industrial and Commercial Bank of China (ICBC)," to commence its operations in Pakistan. ICBC is China's largest bank with a market capitalisation of $300 billion. The bank is pursuin
Published 19 Dec, 2010 12:00am
SBP grants licence to ICBC

SBP grants licence to ICBC

The State Bank of Pakistan (SBP) has granted licence to a Chinese Bank "Industrial and Commercial Bank of China (ICBC)," to commence its operations in Pakistan. ICBC is China's largest bank with a market capitalisation of $300 billion. The bank is pursuin
Published 19 Dec, 2010 12:00am
SBP grants licence to ICBC

SBP grants licence to ICBC

The State Bank of Pakistan (SBP) has granted licence to a Chinese Bank "Industrial and Commercial Bank of China (ICBC)," to commence its operations in Pakistan. ICBC is China''s largest bank with a market capitalisation of $300 billion. The bank is pursui
Published 19 Dec, 2010 12:00am
FBR asked to resolve PaCCS issue with Agility

FBR asked to resolve PaCCS issue with Agility

Finance Minister Dr Abdul Hafeez Shaikh has informed the Federal Board of Revenue (FBR) that the present government cannot afford to go in litigation with Agility over Pakistan Automated Customs Computerised System (PaCCS), and desired smooth and transpar
Published 19 Dec, 2010 12:00am
FBR asked to resolve PaCCS issue with Agility

FBR asked to resolve PaCCS issue with Agility

Finance Minister Dr Abdul Hafeez Shaikh has informed the Federal Board of Revenue (FBR) that the present government cannot afford to go in litigation with Agility over Pakistan Automated Customs Computerised System (PaCCS), and desired smooth and transpar
Published 19 Dec, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (December 18, 2010)and for Sunday (December 19, 2010).
Published 19 Dec, 2010 12:00am
FBR asked to resolve PaCCS issue with Agility

FBR asked to resolve PaCCS issue with Agility

Finance Minister Dr Abdul Hafeez Shaikh has informed the Federal Board of Revenue (FBR) that the present government cannot afford to go in litigation with Agility over Pakistan Automated Customs Computerised System (PaCCS), and desired smooth and transpar
Published 19 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
SSGC's efficiency project: World Bank to provide $200 million

SSGC's efficiency project: World Bank to provide $200 million

The World Bank has agreed to provide $200 million to Sui Southern Gas Company (SSGC) for 'Natural Gas Efficiency Project' to replace pipeline, metering equipment for consumers and rehabilitation works in a bid to reduce 'Unaccounted for Gas' (UFG).
Published 19 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (December 18, 2010).

Published 19 Dec, 2010 12:00am
SSGC's efficiency project: World Bank to provide $200 million

SSGC's efficiency project: World Bank to provide $200 million

The World Bank has agreed to provide $200 million to Sui Southern Gas Company (SSGC) for 'Natural Gas Efficiency Project' to replace pipeline, metering equipment for consumers and rehabilitation works in a bid to reduce 'Unaccounted for Gas' (UFG).
Published 19 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Saturday (December 18, 2010)and the forecast for Sunday (December 19, 2010).

Published 19 Dec, 2010 12:00am
SSGC''s efficiency project: World Bank to provide $200 million

SSGC''s efficiency project: World Bank to provide $200 million

The World Bank has agreed to provide $200 million to Sui Southern Gas Company (SSGC) for ''Natural Gas Efficiency Project'' to replace pipeline, metering equipment for consumers and rehabilitation works in a bid to reduce ''Unaccounted for Gas'' (UFG).
Published 19 Dec, 2010 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on December 14, 2010.

Published 19 Dec, 2010 12:00am
FBR to launch e-system for refunds

FBR to launch e-system for refunds

The Federal Board of Revenue (FBR) is planning to launch, by March 2011, the e-system to deposit refund payments directly into taxpayers' bank accounts, Business Recorder learnt on Saturday. According to sources, the gap between issuance of refund
Published 19 Dec, 2010 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on December 14, 2010.

Published 19 Dec, 2010 12:00am
FBR to launch e-system for refunds

FBR to launch e-system for refunds

The Federal Board of Revenue (FBR) is planning to launch, by March 2011, the e-system to deposit refund payments directly into taxpayers' bank accounts, Business Recorder learnt on Saturday. According to sources, the gap between issuance of refund
Published 19 Dec, 2010 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on December 14, 2010.

Published 19 Dec, 2010 12:00am
FBR to launch e-system for refunds

FBR to launch e-system for refunds

The Federal Board of Revenue (FBR) is planning to launch, by March 2011, the e-system to deposit refund payments directly into taxpayers'' bank accounts, Business Recorder learnt on Saturday. According to sources, the gap between issuance of refund
Published 19 Dec, 2010 12:00am
Rehman, Asfandyar meet Fazl

Rehman, Asfandyar meet Fazl

The government once again failed in persuading Jamiat Ulema-e-Islam-Fazal (JUI-F) to rejoin coalition government here on Saturday. In the wake of the continued political manoeuvring in the Federal Capital, Interior Minister Rehman Malik and Awami National
Published 19 Dec, 2010 12:00am
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