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Archive - 2010-12-24
PIB auction gets off the ground
BR Research

PIB auction gets off the ground

The last and fourth PIB auction of the first half FY10 came out quite successfully. In sharp contrast to market expectations, and unlike the
Published 24 Dec, 2010 12:00am
High-five, Five Rivers!
BR Research

High-five, Five Rivers!

As the year 2010 draws to a close, Pakistan has received some positive coverage internationally, bringing it to the positive spotlight. Of
Published 24 Dec, 2010 12:00am
Hopelessly hopeless hope
BR Research

Hopelessly hopeless hope

"Hope is a dangerous thing; Hope can drive a man insane," Morgan Freeman muttered heavily in his 1994 Hollywood epic The Shawshank Redemptio
Published 24 Dec, 2010 12:00am
LHC moved against disqualification of Sherry

LHC moved against disqualification of Sherry

A petition has been filed against PPP MNA Ms Sherry Rehman, seeking her disqualification for bringing a bill in the parliament to amend blasphemy laws. The petitioner, a bar member Muhammad Azhar Siddique contended that Ms Sherry, despite being a Muslim,
Published 24 Dec, 2010 12:00am
AJK Council approves over Rs nine billion budget for 2010-11

AJK Council approves over Rs nine billion budget for 2010-11

The Azad Jammu and Kashmir Council in its 45th session held here at the PM House on Thursday with Prime Minister Syed Yousuf Raza Gilani in chair, passed its budget for the year 2010-2011 amounting to Rs 9,007.201 million and revised estimates for the yea
Published 24 Dec, 2010 12:00am
Project of inducting 5,000 CNG buses in the doldrums

Project of inducting 5,000 CNG buses in the doldrums

Despite tall claims of Punjab government and allocation of one billion in the annual budget 2010-11, no visible improvement could be made in the transport system as transport companies are showing reluctance in bringing new 5,000 CNG buses in big cities i
Published 24 Dec, 2010 12:00am
Rs 4.3 million worth of vegetables sold

Rs 4.3 million worth of vegetables sold

The agri-marketing wing of Punjab Agriculture Department has sold potatoes, onion and tomatoes worth over rupees 4.3 million to consumers on wholesale rates during the last four weeks through its 'fair price and mobile shops'. According to Special Secreta
Published 24 Dec, 2010 12:00am
Land scam: DG NAB asked to bring perpetrators to justice

Land scam: DG NAB asked to bring perpetrators to justice

A three-member bench of the Supreme Court, here on Thursday, directed Director General of National Accountability Bureau (NAB), Rana Zahid to take to task the responsible of the scam of Qasar-e-Zauk's 12kanal land.
Published 24 Dec, 2010 12:00am
Socio-economic justice tops agenda: minister

Socio-economic justice tops agenda: minister

Federal Women Development Minister Dr Firdous Ashiq Awan has said that government was striving to ensure socio-economic justice and protection of people's rights in the country. Talking to media here on Wednesday she said PPP-led government will continue
Published 24 Dec, 2010 12:00am
Body constituted to formulate anti-corruption rules

Body constituted to formulate anti-corruption rules

Punjab Chief Minister, Muhammad Shahbaz Sharif has constituted a 10-member high powered committee headed by Senior Advisor to Chief Minister Sardar Zulfiqar Ali Khan Khosa for formulating new anti-corruption rules, reviewing existing legal framework and r
Published 24 Dec, 2010 12:00am
Torture on students, teachers: LHC issues notice to BoGs of 26 colleges

Torture on students, teachers: LHC issues notice to BoGs of 26 colleges

A division bench of Lahore High Court, here on Thursday, while hearing a suo motu case about police torture on the protesting teachers and students outside Punjab Assembly, restrained teachers/students from observing a boycott till the final decision of t
Published 24 Dec, 2010 12:00am
Corps Commander visits Rachna troops welfare centre

Corps Commander visits Rachna troops welfare centre

Corps Comm-ander Gujranwala Lieutenant General Raheel Sharif visited Rachna Troops Welfare Centre (Formation Children Hostel). On arrival the Corps Commander was given comprehensive briefing on history / background and administrative aspects of the Centre
Published 24 Dec, 2010 12:00am
HEC launches education alliance with Microsoft

HEC launches education alliance with Microsoft

Higher Education Commission of Pakistan has launched a country wide education alliance with the Microsoft to harness the power of education and Information Technology. This was stated in the press statement issued here on Thursday. The main objective of t
Published 24 Dec, 2010 12:00am
Dense fog: Lahore airport closed for five hours

Dense fog: Lahore airport closed for five hours

Dense fog in the provincial capital led to the closure of Allama Iqbal International Airport for about five hours on Thursday morning. According to a Civil Aviation Authority's spokesperson, the airport was closed between 4.30 am and 10.15 am for both out
Published 24 Dec, 2010 12:00am
84-hour gas loadshedding to affect 600 units in Faisalabad

84-hour gas loadshedding to affect 600 units in Faisalabad

Sui Northern Gas Pipelines Limited (SNGPL) has announced 84 hours gas loadshedding for Faisalabad, which will start from Friday (today) at 6am and will affect more than 600 industrial units in Faisalabad. Industrialists in Faisalabad and textile exporters
Published 24 Dec, 2010 12:00am
Acquittal of accused: CJP takes notice of lack of evidence

Acquittal of accused: CJP takes notice of lack of evidence

Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry here Thursday observed that the courts have to acquit accused(s) due to lack of evidences and faulty police investigation which brings bad name to the judiciary.
Published 24 Dec, 2010 12:00am
Prime Minister for enhanced ties with Bangladesh

Prime Minister for enhanced ties with Bangladesh

Prime Minister Syed Yousuf Raza Gilani on Thursday said that Pakistan considers Bangladesh more a brother than a friend given the commonalities of religion, history and culture. He expressed his keen desire to build upon on the groundswell of goodwill exi
Published 24 Dec, 2010 12:00am
Transfers, postings of judges

Transfers, postings of judges

Lahore High Court Chief Justice, Ijaz Ahmad Chaudhry here on Thursday made transfers and postings of six Additional District and Sessions Judges (AD&SJs) and two Senior Civil Judges (SCJs).
Published 24 Dec, 2010 12:00am
Economic Advisor Sherani quits

Economic Advisor Sherani quits

Principal Economic Advisor to Ministry of Finance Sakib Sherani on Thursday relinquished the charge. It is reliably learnt here on Thursday that the resignation of Sherani, a top economist, was accepted by the Prime Minister Yousuf Raza Gilani and he woul
Published 24 Dec, 2010 12:00am
Speaker turns down resolution seeking Fauzia's removal

Speaker turns down resolution seeking Fauzia's removal

Speaker National Assembly, Fahmida Mirza has turned down the resolution submitted by opposition members in National Assembly Standing Committee on Finance and Revenue demanding the removal of Chairperson of the Committee Fauzia Wahab. Sources at NA secret
Published 24 Dec, 2010 12:00am
Sindh government announces holiday on December 27

Sindh government announces holiday on December 27

The government of Sindh has decided to observe a public holiday on 27th December on account of the third death anniversary of former PPP chairperson Shaheed Benazir Bhutto. This was informed during a high-level meeting held at Chief Minister's House with
Published 24 Dec, 2010 12:00am
National Assembly passes Code of Criminal Procedure (Amendment) Bill

National Assembly passes Code of Criminal Procedure (Amendment) Bill

The National Assembly on Thursday passed the Code of Criminal Procedure (Amendment) Bill, 2008, aimed at providing relief to accused persons in getting bail. The Bill was moved by Minister for Petroleum and Natural Resources Syed Naveed Qamar on behalf of
Published 24 Dec, 2010 12:00am
National Assembly passes Code of Criminal Procedure (Amendment) Bill

National Assembly passes Code of Criminal Procedure (Amendment) Bill

The National Assembly on Thursday passed the Code of Criminal Procedure (Amendment) Bill, 2008, aimed at providing relief to accused persons in getting bail. The Bill was moved by Minister for Petroleum and Natural Resources Syed Naveed Qamar on behalf of
Published 24 Dec, 2010 12:00am
Gap between demand, supply resulted in gas load shedding

Gap between demand, supply resulted in gas load shedding

Minister for Petroleum and Natural Resources Syed Naveed Qamar on Thursday informed the National Assembly that there was a gap between supply and demand, which resulted in gas load shedding and low pressure. He assured the house that the situation would b
Published 24 Dec, 2010 12:00am
KCCI seeks incentive for export sector

KCCI seeks incentive for export sector

Chairman, Taxation Sub-Committee of Karachi Chamber of Commerce and Industry (KCCI), Anis Majeed has sought support and incentive from government for export sector including five zero rates sector which generate 60 parent employment in the country.
Published 24 Dec, 2010 12:00am
MoWP supporting imposition of ban on naphtha

MoWP supporting imposition of ban on naphtha

Ministry of Water and Power (MoWP) is supporting imposition of ban on export of Naphtha, a by-product of petroleum, despite the opposition by the oil refineries, Business Recorder has learnt. Naphtha is an alternate to natural gas for use in power
Published 24 Dec, 2010 12:00am
ISL's 45 percent issued shares to be sold

ISL's 45 percent issued shares to be sold

The Board of Directors of International Industries Limited (IIL) has decided to sell and dispose of up to 45 percent of the issued shares of its wholly owned subsidiary International Steels Limited (ISL).
Published 24 Dec, 2010 12:00am
SHC adjourns hearing of sugar price fixation case

SHC adjourns hearing of sugar price fixation case

Sindh High Court Thursday directed the law officers of Sindh government, City District Government Karachi and Trading Corporation of Pakistan to argue on December 24, 2010 whether the price of sugar fixed by public functionaries could be challenged in ext
Published 24 Dec, 2010 12:00am
Pacra assigns positive outlook to IFS rating of Alfalah Insurance

Pacra assigns positive outlook to IFS rating of Alfalah Insurance

The Pakistan Credit Agency (Pacra) has assigned "Positive Outlook" to Insurer Financial Strength (IFS) rating of "A-" (Single A minis) of Alfalah Insurance company Limited. The rating denotes a strong capacity to meet policyholder and contract obligations
Published 24 Dec, 2010 12:00am
Pacra assigns positive outlook to IFS rating of Alfalah Insurance

Pacra assigns positive outlook to IFS rating of Alfalah Insurance

The Pakistan Credit Agency (Pacra) has assigned "Positive Outlook" to Insurer Financial Strength (IFS) rating of "A-" (Single A minis) of Alfalah Insurance company Limited. The rating denotes a strong capacity to meet policyholder and contract obligations
Published 24 Dec, 2010 12:00am
Shah Zain produced before court

Shah Zain produced before court

Shah Zain Bugti, President JWP Balochistan and grandson of Nawab Akbar Bugti was produced at the anti-terrorism Court here on Thursday amid tight security. Judge Muhammad Ismail handed over custody of Shah Zain and his 26 colleagues to police on seven day
Published 24 Dec, 2010 12:00am
People facing difficulties in arm licences renewal

People facing difficulties in arm licences renewal

Arm licence holders facing difficulties to get their licences renewed owing to a change in renewal procedure. The arm licence holders, whose licences are going to expire on December 31, contacted concerned post offices to get their licences renewed for ne
Published 24 Dec, 2010 12:00am
Sirajuddin elected chairman PBA

Sirajuddin elected chairman PBA

Pakistan Banks' Association (PBA) recently held its elections for the Executive Committee (EC) for the term 2011. Sirajuddin Aziz, CEO Bank Alfalah has been unanimously elected as its Chairman. Aziz, in the past has also remained Vice-Chairman and member
Published 24 Dec, 2010 12:00am
Book on International Law Protection for Foreign Investment launched

Book on International Law Protection for Foreign Investment launched

The Overseas Investors Chamber of Commerce and Industry (OICCI), on Thursday launched a book titled "International Law Protection for Foreign Investment in Pakistan" written by Mahnaz Malik. Anisul Hassnain, Secretary Board of Investment, launched the boo
Published 24 Dec, 2010 12:00am
'Biodiversity facing various threats in Pakistan'

'Biodiversity facing various threats in Pakistan'

Biodiversity is facing various threats in Pakistan like deforestation, pollution, population growth, over exploitation of natural resources, invasive alien species and environmental problems. This was stated by Vice Chancellor Quaid-i-Azam University, Pro
Published 24 Dec, 2010 12:00am
Kundi takes oath as permanent judge of PHC

Kundi takes oath as permanent judge of PHC

The Chief Justice of Peshawar High Court, Justice Ejaz Afzal Khan administered oath to Justice Abdul Aziz Kundi as permanent Judge of Peshawar High Court here on Thursday. A formal ceremony was held in this connection at the High Court. All judges of Pesh
Published 24 Dec, 2010 12:00am
Three police officials die in road accident

Three police officials die in road accident

Three inspectors of Sindh police died and another injured in a road accident at Indus highway when their car went out of control, overturned and dashed into a tyre shop on Thursday. The deceased police officials include SPO Pir Goth, district Khairpur, Ab
Published 24 Dec, 2010 12:00am
Islamabad Police nab seven alleged outlaws

Islamabad Police nab seven alleged outlaws

Islamabad Police nabbed seven outlaws for their alleged involvement in bootlegging, drug pushing and possessing illegal arms, recovering one 8mm Rifle, 220 bottles of liqueur and heroin from their possession. Sihala Police arrested Baber Husain during a r
Published 24 Dec, 2010 12:00am
PAF personnel conferred awards

PAF personnel conferred awards

An investiture ceremony was held, here on Thursday, at Air Headquarters wherein non-operational military awards were conferred on the personnel of Pakistan Air Force for their distinguished services. Air Marshal Tahir Rafique Butt, Vice Chief of Air Staff
Published 24 Dec, 2010 12:00am
One killed in landmine blast

One killed in landmine blast

One person died while another sustained serious injuries in a landmine blast in Tehsil Dukki of Loralai district on Thursday. According to the local administration, two people identified as Murtuza and Nasrullah were on their way home when their motorbike
Published 24 Dec, 2010 12:00am
JUI-F chief slams government for its policies

JUI-F chief slams government for its policies

Jamiat Ulema-e-Islam (JUI-F) Chief Maulana Fazal-ur-Rehman on Thursday blasted the government for its policies, which were being dictated by foreign powers. He particularly grilled it over the on-going war on terror saying that Pak army should declare Jeh
Published 24 Dec, 2010 12:00am
No polio case reported in capital during last two years

No polio case reported in capital during last two years

Islamabad is high risk area for Polio due to mass movement and people coming from different parts of the country and it is encouraging to share that no polio case has been reported in the municipal area of the federal capital during last two years, said I
Published 24 Dec, 2010 12:00am
Inauguration of IEEE Communications Society held

Inauguration of IEEE Communications Society held

Inauguration of IEEE Communications Society Islamabad Chapter was held at Military College of Signals (MCS), a campus of National University of Sciences and Technology (NUST) Islamabad.
Published 24 Dec, 2010 12:00am
FIA gets physical remand of Saud Aziz, Khurram Shehzad

FIA gets physical remand of Saud Aziz, Khurram Shehzad

The Anti-Terrorism Court (ATC) Thursday granted six-day physical remand of former City Police Officer (CPO) Rawalpindi, Saud Aziz and SP Khurram Shehzad to the Federal Investigation Agency (FIA) and adjourned the hearing till December 29. The ATC III, Raw
Published 24 Dec, 2010 12:00am
'Intel Education Awards' ceremony held

'Intel Education Awards' ceremony held

In recognition of the impressive performance of outstanding schools and teachers in Islamabad and Fata, Intel Pakistan Corporation, in collaboration with the ministry of education, organised 'Intel Education Awards' ceremony, here on Thursday.
Published 24 Dec, 2010 12:00am
Oracle contributes $400,000 towards flood relief

Oracle contributes $400,000 towards flood relief

Oracle and its employees with Oracle's Matching Gifts programme have raised $400,000 to support victims of recent floods in Pakistan. The employee donations and the company match will go to the International Federation of Red Cross and Red Crescent Societ
Published 24 Dec, 2010 12:00am
RGST may have indirect impact on IT sector: Naveed

RGST may have indirect impact on IT sector: Naveed

Naveed Siraj, Country Manager, Intel Corporation of Pakistan, said on Thursday that the Reformed General Sales Tax (RGST) would not have direct impact on the semi conductors' manufacturers, but it might have some indirect implications on the Information T
Published 24 Dec, 2010 12:00am
CDA holds Christmas reception

CDA holds Christmas reception

Christian Community has played a pivotal role in the development of the Federal Capital and they deserve appreciation for keeping the city neat and tidy while preserving its greenery, said Imtiaz Inayat Elahi, Chairman Capital Development Authority (CDA)
Published 24 Dec, 2010 12:00am
Foolproof security during Christmas

Foolproof security during Christmas

Stringent security measures were taken to ensure foolproof security during Christmas in Capital City, as additional contingents of Police and other law enforcement agencies were called to deploy at Churches and public places. This was stated by Tahir Alam
Published 24 Dec, 2010 12:00am
Etihad Airways staff donate funds to EIMHH

Etihad Airways staff donate funds to EIMHH

To support the relief efforts in Pakistan, Etihad Airways staff members have donated funds to the Emirates International Mobile Humanitarian Hospital (EIMHH) based in Pakistan, enabling them to purchase new cardiac monitors and paediatric medication.
Published 24 Dec, 2010 12:00am
Army to set up free medical camps

Army to set up free medical camps

Pak Army will organise free medical camps in different districts of Balochistan. The ISPR handout issued on Thursday said that Army would hold two-day free medical camp in Kohlu on 27-28 December and in Mewand on 29-30 December while the same would be org
Published 24 Dec, 2010 12:00am
All quiet on the FPCCI election front

All quiet on the FPCCI election front

The din and thunder usually witnessed at the time of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) elections is not being heard though the election process has entered its last phase for the January-December 2011 term.
Published 24 Dec, 2010 12:00am
Taliban commander killed

Taliban commander killed

Security officials said Thursday that a wanted Taliban commander had been killed in fighting with government troops in the tribal belt bordering Afghanistan. "Asmatullah Bhetani was killed in a gunfight with security forces in South Waziristan on the nigh
Published 24 Dec, 2010 12:00am
PALPA rejects statement by PIA spokesman

PALPA rejects statement by PIA spokesman

A spokesman for Pakistan Airline Pilots' Association (PALPA) has categorically rejected a statement by PIA spokesman that PK 701 on 19th December to Manchester from Islamabad was diverted to Istanbul on route to change crew and got stuck at Istanbul due t
Published 24 Dec, 2010 12:00am
Local body system Sindh govt implementing 'Functional Formula'

Local body system Sindh govt implementing 'Functional Formula'

Sindh Government is implementing "Functional Formula" given by Pakistan Muslim League Functional (PML-F) for local body system. However the government should also carry rehabilitation and assistance of flood affected people on preferential basis and shoul
Published 24 Dec, 2010 12:00am
Shershah carnage accused remanded in police custody

Shershah carnage accused remanded in police custody

Anti-Terrorism Court (ATC) headed by Justice Maqbool Baqar on Thursday remanded three accused in custody of Pak Colony police in the Shershah scrap market carnage case. The police presented the accused Shafi Magsi, Nawaz and Pervez before the court, which
Published 24 Dec, 2010 12:00am
Hydrogen peroxide: NTC urged to withdraw antidumping duty

Hydrogen peroxide: NTC urged to withdraw antidumping duty

Chairman Pakistan Chemicals and Dyes Merchants Association (PCDMA), Haroon Agar has urged the National Tariff Commission (NTC) to withdraw antidumping duty imposed on hydrogen peroxide. He expressed that local hydrogen peroxide manufacturing companies hav
Published 24 Dec, 2010 12:00am
BRP seeks recovery of Baloch missing persons

BRP seeks recovery of Baloch missing persons

Baloch Republican Party (BRP) has demanded to bring back thousands of Baloch missing persons who were detained illegally and voiced its concern over the silence of United Nations on this matter. BRP's representative Faisal while talking to Business Rec
Published 24 Dec, 2010 12:00am
Zardari's reply to Sharif's letter

Zardari's reply to Sharif's letter

President Asif Ali Zardari has, according to his spokesman Farhatullah Babar, responded to the 10 November letter written by Nawaz Sharif, the PML (N) leader in which he had raised a number of concerns and proposed remedial measures. The President's lette
Published 24 Dec, 2010 12:00am
PCSIR in the doldrums

PCSIR in the doldrums

The government decision to make a 46 percent cut in its Public Sector Development Programme (PSDP) in fiscal year 2010-11 is beginning to target areas that must not be hurt. According to a press report, the Pakistan Council of Scientific and Industrial Re
Published 24 Dec, 2010 12:00am
FBR: change of captain and tax reforms

FBR: change of captain and tax reforms

Replacing Suhail Ahmad with Salman Siddique as Chairman, Federal Board of Revenue (FBR) in the mid of fiscal year 2010-11, has raised many eyebrows-some saying he failed to "market" Reformed General Sales Tax (RGST) package. Besides his failure to defend
Published 24 Dec, 2010 12:00am
Producing CNC machine tools indigenously

Producing CNC machine tools indigenously

Signing of a number of economic and technical co-operation agreements between the two sides during the visit of the Chinese Prime Minister Wen Jiabao is a manifestation of the underlying principle of close Pak-China relationship, which has opened up new o
Published 24 Dec, 2010 12:00am
America's 'Tikka diplomacy'

America's 'Tikka diplomacy'

Last week, my wife Marilyn and I visited Lahore for the second time since we arrived in Pakistan in October. During our trip, we met provincial government officials, opened a new Apple retail store, and talked to journalists about US-Pakistan relations. I
Published 24 Dec, 2010 12:00am
M A Zuberi

M A Zuberi

I was saddened to hear of the passing away of Mohammad Ahmed Zuberi. He was widely admired as a pioneering figure in the establishment of economic and financial journalism in Pakistan. I did not have the good fortune to meet the late Zuberi in person. How
Published 24 Dec, 2010 12:00am
II

II

The nation has recognised the contribution and the services of the late Zuberi. He was a true giant in his field and the mark he has left on the profession of journalism and the important niche, which he carved, developed and promoted will always bear tes
Published 24 Dec, 2010 12:00am
III

III

Our family is deeply grieved to hear the news of passing away of M A Zuberi. During my career with Ghandhara Industries and subsequently when I was Chairman of Pakistan Automobile Corporation during Z A Bhutto period, Zuberi always guided me affectionatel
Published 24 Dec, 2010 12:00am
IV

IV

I had the great opportunity of meeting M A Zuberi on a number of occasions and had the deepest respect for him. He left a mark, which would be difficult to erase and will be missed sorely by all those who knew him. Myself and all members of my staff would
Published 24 Dec, 2010 12:00am
V

V

His passing away is not only a loss to the Zuberi family but also a great loss to the literary society. May Almighty Allah bless the departed soul and grant him eternal peace. Ameen
Published 24 Dec, 2010 12:00am
US MIDDAY: gold dips

US MIDDAY: gold dips

Gold slipped nearly 1 percent on Thursday, erasing most of this week's gains, as the dollar rose to a three-week high against the euro after a raft of US data and amid persistent concerns over euro zone debt levels. US gold futures for February delivery f
Published 24 Dec, 2010 12:00am
US MIDDAY: sugar hits 30-year high

US MIDDAY: sugar hits 30-year high

ICE raw sugar touched a 30-year peak on Thursday buoyed by fund buying and tight supplies, while cocoa rose towards a four-month high amid concerns over supply risks due to a power struggle in Ivory Coast. ICE arabica coffee futures rose, underpinned by l
Published 24 Dec, 2010 12:00am
US MIDDAY: soyabeans rises to 27-month high

US MIDDAY: soyabeans rises to 27-month high

CBOT January soybean futures rallied 21-1/4 cents per bushel to $13.50 late on Thursday and to a fresh 27-month top as heat and dryness threatened Argentina's soybean crop, traders said.
Published 24 Dec, 2010 12:00am
Gold slips in Europe

Gold slips in Europe

Gold slipped nearly 1 percent on Thursday, erasing most of this week's gains, as the dollar rose to a three-week high against the euro after a raft of US data and amid persistent concerns over eurozone debt levels. Spot gold fell as low as $1,372.05 an ou
Published 24 Dec, 2010 12:00am
Gold inches up in Asia

Gold inches up in Asia

Gold ticked up on Thursday and was likely to trade in a tight range as year-end approaches, but dealers still expected some buying related to credit rating warnings in Europe. Spot gold rose $2.36 an ounce to $1,386.91 an ounce by 0706 GMT. Gold was well
Published 24 Dec, 2010 12:00am
US gold slightly lower

US gold slightly lower

US gold futures seesawed around unchanged levels in a narrow range and little volume for most of Wednesday's session, settling slightly lower as most players bide their time heading into year end, analysts said. COMEX February gold futures finished $1.40
Published 24 Dec, 2010 12:00am
Liffe cocoa higher, sugar up

Liffe cocoa higher, sugar up

Liffe May cocoa ends 31 pounds higher at 2,049 pounds a tonne, underpinned by concerns over risks to supplies from top producer Ivory Coast due to a power struggle after a disputed November 28 election. Liffe March white sugar ends up $36.40 at $820.90 pe
Published 24 Dec, 2010 12:00am
US soyabeans rise

US soyabeans rise

US soyabean futures rose to a 5-1/2 week high on Wednesday, due to strength in corn, dryness in Argentina and a strike at Argentine crushing plants that may slow shipments from the world's largest soyoil exporter. CBOT January soyabean up 2-1/2 cents at $
Published 24 Dec, 2010 12:00am
New York sugar rises

New York sugar rises

Arabica coffee futures slid Wednesday on profit-taking after scaling a fresh 13-1/2 year high during the session. Raw sugar edged higher but was down from its highs for the session while cocoa slipped as players kept their attention focused on the politic
Published 24 Dec, 2010 12:00am
Malaysian palm oil hits new one-week high

Malaysian palm oil hits new one-week high

Malaysian crude palm oil futures hit a one-week high on Thursday, as China announced plans to restock agriculture commodities at a time when erratic weather globally may curb supplies. US soyoil for January delivery hit a 28-month high during Asian trade,
Published 24 Dec, 2010 12:00am
Oil jumps to highest since 2008 crisis, $100 eyed

Oil jumps to highest since 2008 crisis, $100 eyed

Oil surged above $91 a barrel to its highest price in more than two years on Thursday, as Opec member Libya's apparent lack of concern over prices prompted some analysts to call for a new year's run at $100. With crude reaching back-to-back 26-month highs
Published 24 Dec, 2010 12:00am
Thai, Indian sugar ease

Thai, Indian sugar ease

More white sugar from India was being offered in the physical market, but its quality could be a concern, while premiums for Thai sweetener slipped after recent rallies on London futures, dealers said on Thursday. The damage caused by rains in Australia's
Published 24 Dec, 2010 12:00am
Industrial metals fall

Industrial metals fall

Copper fell on Thursday as inventories trended higher and year-end book-squaring also pressured the market, but expectations of market tightness in 2011 kept the metal's price near record highs. Benchmark copper for three-month delivery on the London Meta
Published 24 Dec, 2010 12:00am
Shanghai copper drifts lower

Shanghai copper drifts lower

Copper prices fell nearly one percent on Thursday, dragged down by a sluggish performance in Shanghai amid a liquidity drain towards the year end and a bout of profit-taking after the recent rally. Shanghai's benchmark third-month copper declined 0.6 perc
Published 24 Dec, 2010 12:00am
US copper near record high

US copper near record high

Copper hovered near record highs on Wednesday after closing slightly lower, but the metal could draw profit-taking in the near term on worries it has rallied without much of a correction, analysts said. Copper prices are up 27 percent year-to-date, with D
Published 24 Dec, 2010 12:00am
New York cotton extends losses, hits limit down for second day

New York cotton extends losses, hits limit down for second day

US cotton touched its daily limit down for a second straight day on Thursday, as traders booked profit in one of the best performing commodities of 2010, before recovering some ground. China's Zhengzhou cotton futures also dropped as investors continued t
Published 24 Dec, 2010 12:00am
US Congress blocks Guantanamo closure

US Congress blocks Guantanamo closure

US lawmakers have effectively blocked President Barack Obama's efforts to close the controversial terror prison in Guantanamo Bay, Cuba, by approving a Pentagon budge that forbids spending money on the move. After months of wrangling, both the House and S
Published 24 Dec, 2010 12:00am
Iraqi general gunned down in Baghdad

Iraqi general gunned down in Baghdad

Gunmen with silenced weapons raked an army brigadier general's car with gunfire in a Baghdad street, killing him and wounding his daughter, defence and interior ministry officials said Thursday. The attack took place Wednesday night in the Mansour distric
Published 24 Dec, 2010 12:00am
Former Argentine dictator Videla jailed for life

Former Argentine dictator Videla jailed for life

A former Argentine military dictator, Jorge Videla, was Wednesday sentenced to life in prison for crimes against humanity including the torture and murder of dissidents, a court here ruled. Videla, an 85-year-old former army general who ran Argentina betw
Published 24 Dec, 2010 12:00am
WikiLeaks to publish 'sensitive' Israel cables

WikiLeaks to publish 'sensitive' Israel cables

WikiLeaks founder Julian Assange has said his whistleblowing website plans to publish hundreds of "sensitive" US diplomatic cables on Israel, Al-Jazeera television reported on Thursday. "Sensitive and classified documents" on Israel's 2006 war on Lebanon
Published 24 Dec, 2010 12:00am
CIA task force to assess WikiLeaks damage

CIA task force to assess WikiLeaks damage

A CIA task force - known by the suitable acronym WTF - is to assess damage done by WikiLeaks' mass release of classified US documents, an official said Wednesday. The WikiLeaks Task Force will "examine whether the latest release of WikiLeaks documents mig
Published 24 Dec, 2010 12:00am
UN envoy fears 'spectacular attacks' in Afghanistan

UN envoy fears 'spectacular attacks' in Afghanistan

The UN envoy to Afghanistan on Wednesday warned that the war was likely to get worse in the short-term and that Taliban insurgents may attempt "spectacular attacks." "We are detecting from the anti-government elements an attempt to show, on their side, sp
Published 24 Dec, 2010 12:00am
Flu kills 27 in Britain, spreading in Europe

Flu kills 27 in Britain, spreading in Europe

Flu has killed 27 people in Britain since the influenza season began in October and transmission of the virus is picking up across the European Union, health officials said on Thursday. Latest data from Britain's Health Protection Agency (HPA) showed that
Published 24 Dec, 2010 12:00am
Nearly 200 killed in Ivory Coast violence

Nearly 200 killed in Ivory Coast violence

Nearly 200 people have been killed in Ivory Coast since last month's disputed election, according to the United States, as international pressure mounts for defiant leader Laurent Gbagbo to step down. World powers and African states have thrown their supp
Published 24 Dec, 2010 12:00am
Russian opposition sues Putin for slander

Russian opposition sues Putin for slander

Russia's opposition leaders said on Thursday said they were filing defamation suits against president-turned-premier Vladimir Putin who accused them of seeking to squander Russia's resources. "This is nothing else but lies and slander," Boris Nemtsov, a f
Published 24 Dec, 2010 12:00am
Convention against abductions comes into force

Convention against abductions comes into force

An international accord aimed at preventing abductions - a fate affecting tens of thousands of people throughout the world - came into force Thursday, the United Nations said. The International Convention for the Protection of all Persons from Enforced Di
Published 24 Dec, 2010 12:00am
Britain confirms training Bangladesh police 'death squad'

Britain confirms training Bangladesh police 'death squad'

Britain confirmed Thursday it trains a Bangladeshi police unit that human rights groups have labelled a government "death squad" but stressed the programme was to improve ethical standards. The Rapid Action Battalion (RAB) was set up in 2004 and admits ab
Published 24 Dec, 2010 12:00am
North Korea makes nuclear threat in stand-off with South

North Korea makes nuclear threat in stand-off with South

North Korea threatened a nuclear "sacred war" on Thursday and South Korea vowed a "merciless counterattack" if it was attacked again as both sides raised the rhetoric on a day of more military exercises in the South. South Korea's land and sea exercises p
Published 24 Dec, 2010 12:00am
Romanian government survives no-confidence motion

Romanian government survives no-confidence motion

Romania's government survived a no-confidence vote over IMF-backed wage reforms as expected on Thursday, paving the way for the country to receive fresh loans in January and subsequently strike a new aid deal. Opposition legislators, who do not have a maj
Published 24 Dec, 2010 12:00am
Indian government offers corruption debate to break deadlock

Indian government offers corruption debate to break deadlock

The Indian government has offered to hold a special corruption debate with opposition lawmakers to break a deadlock that meant no legislation was passed in all of the last parliamentary session. Opposition MPs forced adjournments on every day of the winte
Published 24 Dec, 2010 12:00am
Three convicted in terror plot on Australian army base

Three convicted in terror plot on Australian army base

Three men who believed Islam was under threat from Western nations were convicted in an Australian court Thursday of plotting a suicide attack against a Sydney army base. The men Australian citizens of Somali or Lebanese origin were convicted in Victoria
Published 24 Dec, 2010 12:00am
45 people lynched amid Haiti cholera fears

45 people lynched amid Haiti cholera fears

Angry Haitian mobs have lynched at least 45 people in recent weeks, accusing them of spreading a cholera outbreak that has killed over 2,500 people across the country, officials said Wednesday. The number included at least 14 suspected sorcerers previousl
Published 24 Dec, 2010 12:00am
Beijing to cut car registrations to ease gridlock

Beijing to cut car registrations to ease gridlock

Authorities in Beijing said Thursday they would slash the number of new cars hitting the city's streets in 2011 as they try to ease the Chinese capital's massive traffic jams. The city will allow 240,000 passenger cars to be registered next year through a
Published 24 Dec, 2010 12:00am
Pakistan beaten by five wickets in Twenty20 warm-up match

Pakistan beaten by five wickets in Twenty20 warm-up match

Pakistan has made an unimpressive start to its cricket tour of New Zealand, losing by five wickets to Auckland province in a Twenty20 warm-up match. After losing two wickets in the opening over, Pakistan was bowled out for only 90 in 17.5 overs, Umar Gul
Published 24 Dec, 2010 12:00am
Indian schoolboy hammers 498 runs

Indian schoolboy hammers 498 runs

A 13-year-old Indian cricketer has smashed 498 runs off 490 balls in a match in Mumbai to claim the national record for the highest score by a school boy. Armaan Jaffer, nephew of former Indian Test opener Wasim Jaffer, achieved the feat in an under-14 Gi
Published 24 Dec, 2010 12:00am
FIFA names independent body to organise Kenyan polls

FIFA names independent body to organise Kenyan polls

FIFA on Thursday named a eight-member independent board to organise the national elections for Kenyan football set for early next year, officials said. The world football federation also appointed Leodegar Tenga, a member of its Associations Committee, wh
Published 24 Dec, 2010 12:00am
PCB awards central contracts to women players

PCB awards central contracts to women players

Pakistan's cricket board on Thursday awarded women cricketers central contracts for the first time, honouring the team which scooped gold at the Asia Games. Pakistan crushed Bangladesh by 10 wickets in the final of the first Asian Games women's cricket to
Published 24 Dec, 2010 12:00am
Bangladesh may tour Pakistan before 2012: Mustafa Kamal

Bangladesh may tour Pakistan before 2012: Mustafa Kamal

The President of the Bangladesh Cricket Board (BCB), Mustafa Kamal has said that their senior team is not in a position to tour Pakistan before 2012. "Pakistan and Bangladesh should definitely play, there is nothing wrong in it. I had a fruitful meeting w
Published 24 Dec, 2010 12:00am
Pele named six-time Brazilian title winner

Pele named six-time Brazilian title winner

A large hole in the roll of honour of Pele, arguably soccer's greatest player, was filled 33 years after he quit when he was officially recognised as a six time Brazilian champion at the age of 70 on Wednesday. The championship officially started in 1971
Published 24 Dec, 2010 12:00am
Cricket scandals damaged dignity of country: Aijaz Jakhrani

Cricket scandals damaged dignity of country: Aijaz Jakhrani

Minister for Sports Mir Aijaz Hussain Jakhrani has said the recent match fixing scandals in Pakistan Cricket team has defamed the country. Talking to a private TV channel, he said that such scandals cast bad impact on other games of the country as well. H
Published 24 Dec, 2010 12:00am
31st National Games Navy soccer squad announced

31st National Games Navy soccer squad announced

Dera Ismail Khan-born goal keeper Ishaq Ahmed will be captain and Muhammad Shafiq Sr. will act his deputy, as Pakistan Navy football squad for National Games football event was announced on Thursday. According to Pakistan Navy Sports Control Committee (PN
Published 24 Dec, 2010 12:00am
Inter sack Benitez, Leonardo lined up

Inter sack Benitez, Leonardo lined up

European champions Inter Milan sacked coach Rafael Benitez on Thursday just a few days after he guided them to the World Club Cup title and looks set to be replaced by former AC Milan coach Brazilian Leonardo.
Published 24 Dec, 2010 12:00am
Sterling on back foot versus dollar

Sterling on back foot versus dollar

Sterling hovered near a three-month low against the dollar on Thursday, struggling to stay above key technical support after a downward revision to UK growth the previous day kept the pound under selling pressure. Sterling hit multi-year troughs against t
Published 24 Dec, 2010 12:00am
Won, ringgit rise

Won, ringgit rise

The South Korean won and the Malaysian ringgit rose against the dollar on Thursday as dealers pushed through trade-related flows and investors repatriated some cash before volumes thin even more because of holidays. Trading volumes were already relatively
Published 24 Dec, 2010 12:00am
Indian rupee snaps two-day rise

Indian rupee snaps two-day rise

The Indian rupee snapped a two-day winning streak on Thursday as large dollar demand from a big company, custodian banks and importers along with a weak domestic stock market weighed. The partially convertible rupee closed at 45.16/17 per dollar, 0.2 perc
Published 24 Dec, 2010 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 70.69/70.70 (previous 70.68/70.70) Call Money Rates: 15.00-25.00 percent (previous 9.0-30.00 percent).
Published 24 Dec, 2010 12:00am
Euro at record low versus Swiss franc in New York

Euro at record low versus Swiss franc in New York

The euro fell to a record low against the Swiss franc on Wednesday, with losses seen accelerating on concern the eurozone debt crisis will continue well into 2011. But the euro edged up versus the dollar, helped by a report that China was ready to buy sig
Published 24 Dec, 2010 12:00am
Thursday's Early Trade: euro hits three-week low

Thursday's Early Trade: euro hits three-week low

The euro fell to a three-week low against the dollar on Thursday amid persistent concern about debt troubles in Europe, though analysts said strong technical support levels could limit near-term downside. The euro earlier fell to around $1.3050, below its
Published 24 Dec, 2010 12:00am
Euro steadies in London

Euro steadies in London

The euro steadied against the dollar and the Swiss franc on Thursday, helped by supportive comments from China, but analysts said the outlook for the single currency was shaky, with fresh losses expected into 2011. Liquidity was at a premium in currency m
Published 24 Dec, 2010 12:00am
Euro halts decline in Asia

Euro halts decline in Asia

The euro won some reprieve in Asia on Thursday, having touched a record low versus the Swiss franc overnight, with traders citing buying interest emerging from players in the region including central banks. But the single currency's outlook remained shaky
Published 24 Dec, 2010 12:00am
Australian dollar hits six-week highs

Australian dollar hits six-week highs

The New Zealand dollar recovered on Thursday from a brief sell-off in reaction to data showing a contraction in the economy, while the Australian currency hit six-week highs against a broadly weaker greenback. The kiwi rose to as high as $0.7472 after a b
Published 24 Dec, 2010 12:00am
Swiss franc off record high

Swiss franc off record high

The Swiss franc on Thursday inched off the previous day's all-time high against the euro, with the common currency winning temporary reprieve from traders seeking to capitalise on its big fall. The franc, which some analysts have termed 'the new Deutsche
Published 24 Dec, 2010 12:00am
Banks' borrowing shows still reliant on ECB funds

Banks' borrowing shows still reliant on ECB funds

Eurozone short-term interest rates were set to remain subdued over the turn of the year as banks barely reduced their reliance on central bank loans this week, reflecting the difficulties some face accessing funding. Euro zone banks borrowed 20.6 billion
Published 24 Dec, 2010 12:00am
Energy stocks lead FTSE higher, breaks 6,000 level

Energy stocks lead FTSE higher, breaks 6,000 level

Britain's leading share index closed just shy of the 6,000 level on Thursday as energy gains outpaced slight weakness in miners and banks in wafer thin trade. The FTSE 100 index ended 12.58 points, or 0.2 percent higher at 5,996.07 after briefly breaking
Published 24 Dec, 2010 12:00am
Seoul shares slightly down

Seoul shares slightly down

Seoul shares were little changed on Thursday as investors paused for a breather a day after the main index hit a 38-month closing high, with losses in some large cap issues such as Samsung Electronics Co Ltd weighing. The Korea Composite Stock Price Index
Published 24 Dec, 2010 12:00am
South Korean bond futures consolidate

South Korean bond futures consolidate

South Korean won and treasury bond futures consolidated early on Thursday in thin pre-holiday trading, failing to break through major resistance levels. Treasury bond futures initially jumped as foreign investors continued to buy, prompting local players
Published 24 Dec, 2010 12:00am
South Korean bond futures consolidate

South Korean bond futures consolidate

South Korean won and treasury bond futures consolidated early on Thursday in thin pre-holiday trading, failing to break through major resistance levels. Treasury bond futures initially jumped as foreign investors continued to buy, prompting local players
Published 24 Dec, 2010 12:00am
Shanghai, Hong Kong shares lower

Shanghai, Hong Kong shares lower

Shanghai and Hong Kong shares fell on Thursday as a cash crunch in the mainland's financial system weighed on the markets and a slowdown in trading activity kept investors on the sidelines. Shanghai's key stock index fell 0.8 percent, finding support at i
Published 24 Dec, 2010 12:00am
Most Southeast Asian stocks fall

Most Southeast Asian stocks fall

Most Southeast Asian stock markets fell in thin volume on Thursday, coming off their day highs as financials shares pulled back from a recent rally. Commodities shares bucked the trend, however, gaining on positive spillover from higher oil prices. Indone
Published 24 Dec, 2010 12:00am
Indian shares slip

Indian shares slip

Indian shares edged down 0.2 percent in choppy trade on Thursday amid low volumes as investors stayed on the sidelines ahead of the holiday season, but market participants see an upward trend for the year 2011. Metal producers gave up gains as traders boo
Published 24 Dec, 2010 12:00am
Treasuries slip

Treasuries slip

US Treasury prices slipped in thin, pre-holiday trading on Wednesday, with notes maturing in five and seven years doing worse ahead of supply next week. Economic reports were a little weaker than expected, a characterisation that should have supported bon
Published 24 Dec, 2010 12:00am
Treasuries slip

Treasuries slip

US Treasury prices slipped in thin, pre-holiday trading on Wednesday, with notes maturing in five and seven years doing worse ahead of supply next week. Economic reports were a little weaker than expected, a characterisation that should have supported bon
Published 24 Dec, 2010 12:00am
Bank shares help keep alive year-end rally

Bank shares help keep alive year-end rally

The S&P 500 rose on Wednesday to its highest level since the collapse of Lehman Brothers, led by bank stocks that have leapfrogged other sectors in December. The banks - epicenter of the credit crisis two years ago - led indexes higher as a December run h
Published 24 Dec, 2010 12:00am
Thursday's early trade: Wall Street flat

Thursday's early trade: Wall Street flat

US stocks were little changed early on Thursday despite a pre-holiday flurry of data that reinforced views of a solid economic growth as Wall Street sought to notch a fourth straight week of gains. New home sales and prices edged up in November, while con
Published 24 Dec, 2010 12:00am
European stocks stable

European stocks stable

Europe's main stock markets ended mixed on Thursday with data underscoring the gradual economic recovery is underway in the United States failing to animate light pre-holiday trading. In London the FTSE 100 index of leading shares rose 0.21 percent to 5,9
Published 24 Dec, 2010 12:00am
Australian shares at six-week high

Australian shares at six-week high

Australian stocks rose 0.4 percent on Thursday to a six-week high as global stocks and commodities hit multi-year highs on renewed confidence in global growth, putting the index a notch below key chart resistance at 4,800. Investors are entering 2011 in a
Published 24 Dec, 2010 12:00am
US challenges Chinese wind power subsidies at WTO

US challenges Chinese wind power subsidies at WTO

The long list of trade disputes between the United States and China has lengthened further, with Washington asking the WTO to examine subsidies to the Chinese wind power sector. Just weeks before President Hu Jintao's January visit to the United States, t
Published 24 Dec, 2010 12:00am
Riversdale agrees $3.9 billion Rio bid

Riversdale agrees $3.9 billion Rio bid

Anglo-Australian miner Rio Tinto offered $3.9 billion to buy African-focused coal miner Riversdale in an agreed deal that is likely to be challenged by rivals seeking to secure coking coal reserves.
Published 24 Dec, 2010 12:00am
Fitch cuts Hungary rating

Fitch cuts Hungary rating

Fitch ratings agency on Thursday cut Hungary's rating by one notch to BBB-, just above 'junk' investment status, warning that the government's policies were taking the country in the wrong direction.
Published 24 Dec, 2010 12:00am
Fitch cuts Hungary rating

Fitch cuts Hungary rating

Fitch ratings agency on Thursday cut Hungary's rating by one notch to BBB-, just above 'junk' investment status, warning that the government's policies were taking the country in the wrong direction.
Published 24 Dec, 2010 12:00am
China pledges support to eurozone countries

China pledges support to eurozone countries

China on Thursday pledged its backing to eurozone countries amid an ongoing debt crisis and said Europe would be a "major market" for investment of Beijing's massive foreign exchange reserves. "We are ready to support the eurozone countries to overcome th
Published 24 Dec, 2010 12:00am
Eurozone mulling independent rescue fund

Eurozone mulling independent rescue fund

Several European countries, including Germany, are working on a permanent euro rescue mechanism that would include the creation of a new and independent funding institution, a press report said Thursday. Germany is considering a "European stability, growt
Published 24 Dec, 2010 12:00am
Eurozone mulling independent rescue fund

Eurozone mulling independent rescue fund

Several European countries, including Germany, are working on a permanent euro rescue mechanism that would include the creation of a new and independent funding institution, a press report said Thursday. Germany is considering a "European stability, growt
Published 24 Dec, 2010 12:00am
Irish government takes control of Allied Irish

Irish government takes control of Allied Irish

Ireland's government said on Thursday it would pump 3.7 billion euros into Allied Irish Banks setting it on course for nearly 93 percent ownership of what was once the country's largest publicly traded lender. AIB will be required to raise a further 6.1 b
Published 24 Dec, 2010 12:00am
India's food inflation returns to double-digits

India's food inflation returns to double-digits

India's food price inflation has returned to double-digits, fuelled by surging onion prices, official data showed Thursday, adding to pressure on the scandal-hit Congress government. Food inflation jumped close to three percentage points to 12.13 percent
Published 24 Dec, 2010 12:00am
Japan Airlines fined in Taiwan

Japan Airlines fined in Taiwan

Taiwanese authorities said Thursday they have fined the local subsidiary of Japanese Airlines (JAL) for illegally firing senior employees in a bid to cut costs. JAL was fined 600,000 Taiwan dollars (19,600 US) for violating regulations against age discrim
Published 24 Dec, 2010 12:00am
US jobless claims dip, consumer spending rises

US jobless claims dip, consumer spending rises

New US claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter. Further signs that the economy gained momentum as the year
Published 24 Dec, 2010 12:00am
German minister rejects French economic governance plan

German minister rejects French economic governance plan

German Economy Minister Rainer Bruederle on Thursday rejected proposals by French Finance Minister Christine Lagarde for eurozone economic governance ahead of a meeting between Lagarde and German Finance Minister Wolfgang Schaeuble. "This kind of European
Published 24 Dec, 2010 12:00am
Greek parliament approves 2011 austerity budget

Greek parliament approves 2011 austerity budget

The Greek parliament on Thursday approved a 2011 budget that imposes yet more austerity on the debt-choked nation, hours after thousands took to the streets shouting, "We can't take it any more." The bill targets a budget deficit of 7.4 percent of GDP nex
Published 24 Dec, 2010 12:00am
BoE policymaker warns of 5pc interest rates

BoE policymaker warns of 5pc interest rates

Bank of England policymakers would like interest rates to reach a "normalised" level of about 5.0 percent, a member of its monetary policy committee told the Daily Telegraph newspaper on Thursday. The British central bank has left its key lending rate at
Published 24 Dec, 2010 12:00am
UK services output declines in October

UK services output declines in October

British service sector activity declined by 0.4 percent October, giving back more than half of the previous month's chunky 0.7 percent rise, official data showed on Thursday. The Office for National Statistics said half of the drop was accounted for by a
Published 24 Dec, 2010 12:00am
Weak showing on cotton market

Weak showing on cotton market

Following its own fundamentals and also taking cue from the capricious New York futures market, cotton prices depicted a poor performance in the local market. Lint prices shed nearly Rs 500 per maund (37.32 Kgs) from the overnight rates and performed slug
Published 24 Dec, 2010 12:00am
Weak showing on cotton market

Weak showing on cotton market

Following its own fundamentals and also taking cue from the capricious New York futures market, cotton prices depicted a poor performance in the local market. Lint prices shed nearly Rs 500 per maund (37.32 Kgs) from the overnight rates and performed slug
Published 24 Dec, 2010 12:00am
South Korea to import four million tonnes of grains by 2020

South Korea to import four million tonnes of grains by 2020

South Korea said on Thursday that it will import 4 million tonnes of grains, or 30 percent of total imports, directly in 2020 through a new supply system to reduce dependency on global majors and increase food security. State-run Korea Agro-Fisheries Trad
Published 24 Dec, 2010 12:00am
Lint prices, spot rate tend lower in slow activity on cotton market

Lint prices, spot rate tend lower in slow activity on cotton market

Trading activity was down on the domestic cotton market on Thursday as leading buyers were on sidelines due to several factors, dealers said. The Karachi Cotton Association (KCA) spot rate was slashed by Rs 100 to Rs 9,400. Seed cotton prices in Sindh and
Published 24 Dec, 2010 12:00am
Oil cake market rates

Oil cake market rates

The December and January vaidas were unchanged on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December vaida that has closed at Rs 1178.00 commenced with no change at the same rate, dealers said. The January
Published 24 Dec, 2010 12:00am
Karachi Port's and Port Qasim's activities

Karachi Port's and Port Qasim's activities

The Karachi Port handled 110,018 tonnes of cargo including 71,750 tonnes of import cargo, 38,268 tonnes of export cargo, 4,157 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 71,750 tonnes compri
Published 24 Dec, 2010 12:00am
Trading under pressure due to strong supply on grain market

Trading under pressure due to strong supply on grain market

Trading activity was under pressure due to strong supply position on the wholesale grain and seed market on Thursday, dealers said. On the cereal side makai after maintaining a firm trend, tended higher, low type gained Rs 25 to Rs 2550 and best type was
Published 24 Dec, 2010 12:00am
Corn export premiums ease at US Gulf Coast

Corn export premiums ease at US Gulf Coast

Corn export premiums at the US Gulf Coast eased on Wednesday amid dull demand and sinking CIF barge market values, traders said. Elevated US corn prices, increased competition from feed wheat and cheaper corn from South America keeping US demand muted, tr
Published 24 Dec, 2010 12:00am
Global grains supplies tight despite better crops output: FAO

Global grains supplies tight despite better crops output: FAO

Global grain supplies remain tight this and next crop season despite better-than-expected world cereals output because demand has also risen, the United Nations' Food and Agriculture Organisation said on Wednesday. The FAO raised its projection of world w
Published 24 Dec, 2010 12:00am
New York cotton

New York cotton

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

Published 24 Dec, 2010 12:00am
New York cotton

New York cotton

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

Published 24 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 24 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 24 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 Thursday (December 23, 2010).

Published 24 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 Thursday (December 23, 2010).

Published 24 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 Thursday (December 23, 2010).

Published 24 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 Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (December 23, 2010).
Published 24 Dec, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
Pakistan poised to provide trade corridors, says Zardari

Pakistan poised to provide trade corridors, says Zardari

President Asif Ali Zardari said on Thursday that Pakistan was well positioned to provide trade and communication corridors through its territory and ports to its friends and partners. "We are ready to provide energy as a bridge and develop win-win scenari
Published 24 Dec, 2010 12:00am
Pakistan poised to provide trade corridors, says Zardari

Pakistan poised to provide trade corridors, says Zardari

President Asif Ali Zardari said on Thursday that Pakistan was well positioned to provide trade and communication corridors through its territory and ports to its friends and partners. "We are ready to provide energy as a bridge and develop win-win scenari
Published 24 Dec, 2010 12:00am
Pakistan poised to provide trade corridors, says Zardari

Pakistan poised to provide trade corridors, says Zardari

President Asif Ali Zardari said on Thursday that Pakistan was well positioned to provide trade and communication corridors through its territory and ports to its friends and partners. "We are ready to provide energy as a bridge and develop win-win scenari
Published 24 Dec, 2010 12:00am
RGST imposition: no plan to issue notification, says Khar

RGST imposition: no plan to issue notification, says Khar

The government is paying heavy political price for getting RGST approved from the House and there is no plan to issue a notification for its imposition, said Hina Rabbani Khar, State Minster for Finance here on Thursday.
Published 24 Dec, 2010 12:00am
RGST imposition: no plan to issue notification, says Khar

RGST imposition: no plan to issue notification, says Khar

The government is paying heavy political price for getting RGST approved from the House and there is no plan to issue a notification for its imposition, said Hina Rabbani Khar, State Minster for Finance here on Thursday.
Published 24 Dec, 2010 12:00am
RGST imposition: no plan to issue notification, says Khar

RGST imposition: no plan to issue notification, says Khar

The government is paying heavy political price for getting RGST approved from the House and there is no plan to issue a notification for its imposition, said Hina Rabbani Khar, State Minster for Finance here on Thursday.
Published 24 Dec, 2010 12:00am
Index loses 55.79 points

Index loses 55.79 points

Despite foreign continuous foreign investors' interest, the KSE-100 index on Thursday lost 55.79 points and closed at the level of 11,792.83 points due to profit taking by local participants.
Published 24 Dec, 2010 12:00am
Index loses 55.79 points

Index loses 55.79 points

Despite foreign continuous foreign investors' interest, the KSE-100 index on Thursday lost 55.79 points and closed at the level of 11,792.83 points due to profit taking by local participants.
Published 24 Dec, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
Index loses 55.79 points

Index loses 55.79 points

Despite foreign continuous foreign investors'' interest, the KSE-100 index on Thursday lost 55.79 points and closed at the level of 11,792.83 points due to profit taking by local participants.
Published 24 Dec, 2010 12:00am
BRIndex30 depicts downward trend

BRIndex30 depicts downward trend

On Thursday, BRIndex30 opened at 8,804.15 and after remaining positive for the first hour of market opening, it fell and continued in a general downward trend. It touched an intraday high of 8,848.67 and an intraday low of 8,699.76 and closed at 8,715.62
Published 24 Dec, 2010 12:00am
BRIndex30 depicts downward trend

BRIndex30 depicts downward trend

On Thursday, BRIndex30 opened at 8,804.15 and after remaining positive for the first hour of market opening, it fell and continued in a general downward trend. It touched an intraday high of 8,848.67 and an intraday low of 8,699.76 and closed at 8,715.62
Published 24 Dec, 2010 12:00am
Pakistan takes strong exception: Indo-Russia statement

Pakistan takes strong exception: Indo-Russia statement

Pakistan on Thursday took exception to the Indo-Russia joint statement and termed the references to Pakistan as "unwarranted and unacceptable". A statement from the Foreign Office noted the references to Pakistan in the statement issued in New Delhi that
Published 24 Dec, 2010 12:00am
Pakistan takes strong exception: Indo-Russia statement

Pakistan takes strong exception: Indo-Russia statement

Pakistan on Thursday took exception to the Indo-Russia joint statement and termed the references to Pakistan as "unwarranted and unacceptable". A statement from the Foreign Office noted the references to Pakistan in the statement issued in New Delhi that
Published 24 Dec, 2010 12:00am
OGDCL receives three bids for KPD project

OGDCL receives three bids for KPD project

Oil and Gas Development Company Limited (OGDCL) on Thursday received three bids for multi million dollar Kunnar Pasakhi Deep (KPD) project following a controversial formula, which gives discretionary power to OGDCL management to award contract to the cost
Published 24 Dec, 2010 12:00am
OGDCL receives three bids for KPD project

OGDCL receives three bids for KPD project

Oil and Gas Development Company Limited (OGDCL) on Thursday received three bids for multi million dollar Kunnar Pasakhi Deep (KPD) project following a controversial formula, which gives discretionary power to OGDCL management to award contract to the cost
Published 24 Dec, 2010 12:00am
OGDCL receives three bids for KPD project

OGDCL receives three bids for KPD project

Oil and Gas Development Company Limited (OGDCL) on Thursday received three bids for multi million dollar Kunnar Pasakhi Deep (KPD) project following a controversial formula, which gives discretionary power to OGDCL management to award contract to the cost
Published 24 Dec, 2010 12:00am
Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry has assured release of Rs 35 billion to cash-strapped Pakistan State Oil (PSO) which is at the verge of default due to non-payment of dues by power sector. PSO is continuing supply of oil by borrowing loans from banks. Bank sources said t
Published 24 Dec, 2010 12:00am
Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry has assured release of Rs 35 billion to cash-strapped Pakistan State Oil (PSO) which is at the verge of default due to non-payment of dues by power sector. PSO is continuing supply of oil by borrowing loans from banks. Bank sources said t
Published 24 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry assures to release Rs 35 billion to PSO

Finance Ministry has assured release of Rs 35 billion to cash-strapped Pakistan State Oil (PSO) which is at the verge of default due to non-payment of dues by power sector. PSO is continuing supply of oil by borrowing loans from banks. Bank sources said t
Published 24 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (December 23, 2010).

Published 24 Dec, 2010 12:00am
Income Tax Ordinance 2001: PBA proposes amendments to Seventh Schedule

Income Tax Ordinance 2001: PBA proposes amendments to Seventh Schedule

Pakistan Banks' Association (PBA) has proposed amendments in the Seventh Schedule (Banking Schedule) of the Income Tax Ordinance 2001 to remove a major anomaly relating to carryover of charge for bad debts provisions on account of Consumer and Small and M
Published 24 Dec, 2010 12:00am
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