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Archive - 2010-12-29
New Engro urea plant commissioned
Top News

New Engro urea plant commissioned

KARACHI: The gas efficient new urea fertilizer plant of Engro Fertilizer Ltd has started trial production early Wednesda
Published 29 Dec, 2010 08:35am
Federal cabinet to meet today
Top News

Federal cabinet to meet today

ISLAMABAD: An important session of federal cabinet with Prime Minister Syed Yousuf Raza Gilani chairing, will be held to
Published 29 Dec, 2010 07:20am
11 killed in Russian military jet crash
Top News

11 killed in Russian military jet crash

MOSCOW: A Russian military jet crashed overnight Tuesday in the Tula region south of Moscow, killing 11 people on board,
Published 29 Dec, 2010 06:57am
Let the poll preparations begin
BR Research

Let the poll preparations begin

The politics of reconciliation is fast coming to its natural path - i.e. of destruction. Muttahida Qaumi Movements highly anticipated decisi
Published 29 Dec, 2010 12:00am
Trade and services: Cabinet may ratify Saarc agreement today

Trade and services: Cabinet may ratify Saarc agreement today

The Federal Cabinet, which is scheduled to meet on Wednesday, is expected to ratify ''Saarc agreement on Trade and Services'' (''Satis''), without vetting as, according to Commerce Ministry, the Law Ministry is not paying attention to its communications,
Published 29 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
Cameron phones Zardari

Cameron phones Zardari

British Prime Minister David Cameron telephoned President Asif Ali Zardari on Tuesday afternoon and discussed bilateral relations and situation in the region. David Cameron called the President soon after he arrived in Karachi from Naudero where he addres
Published 29 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
Cameron phones Zardari

Cameron phones Zardari

British Prime Minister David Cameron telephoned President Asif Ali Zardari on Tuesday afternoon and discussed bilateral relations and situation in the region. David Cameron called the President soon after he arrived in Karachi from Naudero where he addres
Published 29 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
Economy documentation: tax on IT-related services proposed

Economy documentation: tax on IT-related services proposed

One of the proposals for documentation of economy is to tax the information technology-related services, including internet, software development, advertisement, and other related services. It is learnt that the Federal Board of Revenue (FBR) has received
Published 29 Dec, 2010 12:00am
Economy documentation: tax on IT-related services proposed

Economy documentation: tax on IT-related services proposed

One of the proposals for documentation of economy is to tax the information technology-related services, including internet, software development, advertisement, and other related services. It is learnt that the Federal Board of Revenue (FBR) has received
Published 29 Dec, 2010 12:00am
Economy documentation: tax on IT-related services proposed

Economy documentation: tax on IT-related services proposed

One of the proposals for documentation of economy is to tax the information technology-related services, including internet, software development, advertisement, and other related services. It is learnt that the Federal Board of Revenue (FBR) has received
Published 29 Dec, 2010 12:00am
MoI&P seeks Rs 10.6 billion bail-out package for PSM

MoI&P seeks Rs 10.6 billion bail-out package for PSM

The Ministry of Industries and Production (MoI&P) has sought Rs 10.6 billion immediate relief package for Pakistan Steel Mills (PSM), sources in MoI&P told Business Recorder. The Federal Investigation Agency (FIA) has prepared a report on PSM affai
Published 29 Dec, 2010 12:00am
MoI&P seeks Rs 10.6 billion bail-out package for PSM

MoI&P seeks Rs 10.6 billion bail-out package for PSM

The Ministry of Industries and Production (MoI&P) has sought Rs 10.6 billion immediate relief package for Pakistan Steel Mills (PSM), sources in MoI&P told Business Recorder. The Federal Investigation Agency (FIA) has prepared a report on PSM affai
Published 29 Dec, 2010 12:00am
MoI&P seeks Rs 10.6 billion bail-out package for PSM

MoI&P seeks Rs 10.6 billion bail-out package for PSM

The Ministry of Industries and Production (MoI&P) has sought Rs 10.6 billion immediate relief package for Pakistan Steel Mills (PSM), sources in MoI&P told Business Recorder. The Federal Investigation Agency (FIA) has prepared a report on PSM affai
Published 29 Dec, 2010 12:00am
Altaf, Shujaat and Fazl agree on common strategy

Altaf, Shujaat and Fazl agree on common strategy

Muttahida Qaumi Movement (MQM) Quaid Altaf Hussain and Pakistan Muslim League (PML-Q) President Chaudhry Shujaat Hussain on Tuesday telephoned Jamiat Ulema-e-Islam-Fazl (JUI-F) Chief Maulana Fazal-ur-Rehman separately and discussed the prevailing politica
Published 29 Dec, 2010 12:00am
Altaf, Shujaat and Fazl agree on common strategy

Altaf, Shujaat and Fazl agree on common strategy

Muttahida Qaumi Movement (MQM) Quaid Altaf Hussain and Pakistan Muslim League (PML-Q) President Chaudhry Shujaat Hussain on Tuesday telephoned Jamiat Ulema-e-Islam-Fazl (JUI-F) Chief Maulana Fazal-ur-Rehman separately and discussed the prevailing politica
Published 29 Dec, 2010 12:00am
Failure to fix wellhead gas price: Ogra chief issued contempt notice

Failure to fix wellhead gas price: Ogra chief issued contempt notice

The Lahore High Court, Rawalpindi bench, has served a notice of contempt of court to the Chairman of the Oil and Gas Regulatory Authority (Ogra) who is alleged to have failed to implement the court order to fix the wellhead gas price at Salesabil (Rodho)
Published 29 Dec, 2010 12:00am
Failure to fix wellhead gas price: Ogra chief issued contempt notice

Failure to fix wellhead gas price: Ogra chief issued contempt notice

The Lahore High Court, Rawalpindi bench, has served a notice of contempt of court to the Chairman of the Oil and Gas Regulatory Authority (Ogra) who is alleged to have failed to implement the court order to fix the wellhead gas price at Salesabil (Rodho)
Published 29 Dec, 2010 12:00am
Failure to fix wellhead gas price: Ogra chief issued contempt notice

Failure to fix wellhead gas price: Ogra chief issued contempt notice

The Lahore High Court, Rawalpindi bench, has served a notice of contempt of court to the Chairman of the Oil and Gas Regulatory Authority (Ogra) who is alleged to have failed to implement the court order to fix the wellhead gas price at Salesabil (Rodho)
Published 29 Dec, 2010 12:00am
SNGPL violating gas distribution formula

SNGPL violating gas distribution formula

The Sui Northern Gas Pipeline (SNGPL) is reportedly violating the gas distribution formula, approved by the federal government, which has resulted in countrywide protest against gas load shedding, affecting all sectors. According to gas distribution formu
Published 29 Dec, 2010 12:00am
SNGPL violating gas distribution formula

SNGPL violating gas distribution formula

The Sui Northern Gas Pipeline (SNGPL) is reportedly violating the gas distribution formula, approved by the federal government, which has resulted in countrywide protest against gas load shedding, affecting all sectors. According to gas distribution formu
Published 29 Dec, 2010 12:00am
SNGPL violating gas distribution formula

SNGPL violating gas distribution formula

The Sui Northern Gas Pipeline (SNGPL) is reportedly violating the gas distribution formula, approved by the federal government, which has resulted in countrywide protest against gas load shedding, affecting all sectors. According to gas distribution formu
Published 29 Dec, 2010 12:00am
Age limit for used cars import: Prime Minister angry with Hafeez?

Age limit for used cars import: Prime Minister angry with Hafeez?

Prime Minister Yousaf Raza Gilani is reportedly furious at Finance Minister Dr Abdul Hafeez Shaikh for increasing the age limit of used cars from three to five years, to be imported under personal baggage, gift and transfer of residence schemes, sources i
Published 29 Dec, 2010 12:00am
Age limit for used cars import: Prime Minister angry with Hafeez?

Age limit for used cars import: Prime Minister angry with Hafeez?

Prime Minister Yousaf Raza Gilani is reportedly furious at Finance Minister Dr Abdul Hafeez Shaikh for increasing the age limit of used cars from three to five years, to be imported under personal baggage, gift and transfer of residence schemes, sources i
Published 29 Dec, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 29 Dec, 2010 12:00am
Age limit for used cars import: Prime Minister angry with Hafeez?

Age limit for used cars import: Prime Minister angry with Hafeez?

Prime Minister Yousaf Raza Gilani is reportedly furious at Finance Minister Dr Abdul Hafeez Shaikh for increasing the age limit of used cars from three to five years, to be imported under personal baggage, gift and transfer of residence schemes, sources i
Published 29 Dec, 2010 12:00am
Index loses 61.68 points

Index loses 61.68 points

The KSE-100 index on Tuesday lost 61.68 points and closed at 11,848.05 points due to profit taking by local investors. On the back of foreign investors' support and a fresh inflow of $1.3 million, the index hit 11,948.35 points high. However, the index dr
Published 29 Dec, 2010 12:00am
Index loses 61.68 points

Index loses 61.68 points

The KSE-100 index on Tuesday lost 61.68 points and closed at 11,848.05 points due to profit taking by local investors. On the back of foreign investors' support and a fresh inflow of $1.3 million, the index hit 11,948.35 points high. However, the index dr
Published 29 Dec, 2010 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 29 Dec, 2010 12:00am
Index loses 61.68 points

Index loses 61.68 points

The KSE-100 index on Tuesday lost 61.68 points and closed at 11,848.05 points due to profit taking by local investors. On the back of foreign investors'' support and a fresh inflow of $1.3 million, the index hit 11,948.35 points high. However, the index d
Published 29 Dec, 2010 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Dec, 2010 12:00am
BRIndex30 down 84.73 points

BRIndex30 down 84.73 points

On Tuesday, the BRIndex30 opened at 8,840.57 points. It touched the intra-day high of 8,855.74 points and low of 8,740.78 points, and closed at 8,755.84 points with a net negative change of -84.73 points, or -0.96 percent. The volume was 60,697,111 shares
Published 29 Dec, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 29 Dec, 2010 12:00am
BRIndex30 down 84.73 points

BRIndex30 down 84.73 points

On Tuesday, the BRIndex30 opened at 8,840.57 points. It touched the intra-day high of 8,855.74 points and low of 8,740.78 points, and closed at 8,755.84 points with a net negative change of -84.73 points, or -0.96 percent. The volume was 60,697,111 shares
Published 29 Dec, 2010 12:00am
LSE index loses 13.9 points

LSE index loses 13.9 points

Equities on Tuesday failed to continue upward slide on the Lahore Stock Exchange (LSE) and stayed in negative zone due to selling pressure on account of profit taking in selective shares. The LSE-25 index lost 13.9 points and was closed at 3667.79 against
Published 29 Dec, 2010 12:00am
LSE index loses 13.9 points

LSE index loses 13.9 points

Equities on Tuesday failed to continue upward slide on the Lahore Stock Exchange (LSE) and stayed in negative zone due to selling pressure on account of profit taking in selective shares. The LSE-25 index lost 13.9 points and was closed at 3667.79 against
Published 29 Dec, 2010 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 17.61 points, as the Index moved from 2,985.61 to 2,968.00 points.
Published 29 Dec, 2010 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 17.61 points, as the Index moved from 2,985.61 to 2,968.00 points.
Published 29 Dec, 2010 12:00am
PNSC acquires another bulk carrier ship

PNSC acquires another bulk carrier ship

Pakistan National Shipping Corporation (PNSC) has acquired third bulk carrier ship enhancing its fleet to 9. The PNSC team has physically taken over the ship MV Malakand at outer anchorage of the Port of Dalian China at a ceremony held on Monday, accordin
Published 29 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
PNSC acquires another bulk carrier ship

PNSC acquires another bulk carrier ship

Pakistan National Shipping Corporation (PNSC) has acquired third bulk carrier ship enhancing its fleet to 9. The PNSC team has physically taken over the ship MV Malakand at outer anchorage of the Port of Dalian China at a ceremony held on Monday, accordin
Published 29 Dec, 2010 12:00am
PNSC acquires another bulk carrier ship

PNSC acquires another bulk carrier ship

Pakistan National Shipping Corporation (PNSC) has acquired third bulk carrier ship enhancing its fleet to 9. The PNSC team has physically taken over the ship MV Malakand at outer anchorage of the Port of Dalian China at a ceremony held on Monday, accordin
Published 29 Dec, 2010 12:00am
India ups security

India ups security

India increased security in major cities across the country Tuesday after receiving information that a Pakistan-based militant group was planning an attack over New Year's weekend. More police were deployed to city streets, including in India's financial
Published 29 Dec, 2010 12:00am
India ups security

India ups security

India increased security in major cities across the country Tuesday after receiving information that a Pakistan-based militant group was planning an attack over New Year's weekend. More police were deployed to city streets, including in India's financial
Published 29 Dec, 2010 12:00am
Filing of income tax return: DG IAIR challenges legality of section 114

Filing of income tax return: DG IAIR challenges legality of section 114

An analysis by the Directorate-General of Internal Audit Inland Revenue (IAIR) has challenged the legality of section 114 (filing of income tax return) of the Income Tax Ordinance 2001, which has not specifically prescribed the exact documents, annexures
Published 29 Dec, 2010 12:00am
Filing of income tax return: DG IAIR challenges legality of section 114

Filing of income tax return: DG IAIR challenges legality of section 114

An analysis by the Directorate-General of Internal Audit Inland Revenue (IAIR) has challenged the legality of section 114 (filing of income tax return) of the Income Tax Ordinance 2001, which has not specifically prescribed the exact documents, annexures
Published 29 Dec, 2010 12:00am
Filing of income tax return: DG IAIR challenges legality of section 114

Filing of income tax return: DG IAIR challenges legality of section 114

An analysis by the Directorate-General of Internal Audit Inland Revenue (IAIR) has challenged the legality of section 114 (filing of income tax return) of the Income Tax Ordinance 2001, which has not specifically prescribed the exact documents, annexures
Published 29 Dec, 2010 12:00am
THE RUPEE: dollar inches up

THE RUPEE: dollar inches up

Bearish sentiment persisted on the local currency market on Tuesday as the rupee drifted lower in relation to dollar, dealers said. The rupee was lower by three paisa versus dollar for buying at 85.85 and shed two paisa for selling at 85.88, they said.
Published 29 Dec, 2010 12:00am
Paksat-IR ground control segment project agreement to be amended

Paksat-IR ground control segment project agreement to be amended

The government is to amend the agreement signed with China on the concessional loan for Paksat-IR ground control segment project, in the light of proposals of Law Ministry, sources close to Secretary Economic Affairs Division (EAD) told Business Record
Published 29 Dec, 2010 12:00am
THE RUPEE: dollar inches up

THE RUPEE: dollar inches up

Bearish sentiment persisted on the local currency market on Tuesday as the rupee drifted lower in relation to dollar, dealers said. The rupee was lower by three paisa versus dollar for buying at 85.85 and shed two paisa for selling at 85.88, they said.
Published 29 Dec, 2010 12:00am
Paksat-IR ground control segment project agreement to be amended

Paksat-IR ground control segment project agreement to be amended

The government is to amend the agreement signed with China on the concessional loan for Paksat-IR ground control segment project, in the light of proposals of Law Ministry, sources close to Secretary Economic Affairs Division (EAD) told Business Record
Published 29 Dec, 2010 12:00am
Paksat-IR ground control segment project agreement to be amended

Paksat-IR ground control segment project agreement to be amended

The government is to amend the agreement signed with China on the concessional loan for Paksat-IR ground control segment project, in the light of proposals of Law Ministry, sources close to Secretary Economic Affairs Division (EAD) told Business Record
Published 29 Dec, 2010 12:00am
KSE BoD election today

KSE BoD election today

The elections for five seats of member directors of Karachi Stock Exchange (KSE) will be held on Wednesday. The KSE members will elect their five representatives at the KSE board for calendar year 2011 or for the period from January 1, 2011 till the date
Published 29 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
KSE BoD election today

KSE BoD election today

The elections for five seats of member directors of Karachi Stock Exchange (KSE) will be held on Wednesday. The KSE members will elect their five representatives at the KSE board for calendar year 2011 or for the period from January 1, 2011 till the date
Published 29 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
KSE BoD election today

KSE BoD election today

The elections for five seats of member directors of Karachi Stock Exchange (KSE) will be held on Wednesday. The KSE members will elect their five representatives at the KSE board for calendar year 2011 or for the period from January 1, 2011 till the date
Published 29 Dec, 2010 12:00am
Tight monetary policy hurts private sector: PIDE conference

Tight monetary policy hurts private sector: PIDE conference

The tight monetary policy stance through increase in the discount rate serves little to tame the inflation in prevailing situation instead it squeezes the private sector and discourages investment. The paper titled "Price Puzzle and Monetary Policy Transm
Published 29 Dec, 2010 12:00am
Tight monetary policy hurts private sector: PIDE conference

Tight monetary policy hurts private sector: PIDE conference

The tight monetary policy stance through increase in the discount rate serves little to tame the inflation in prevailing situation instead it squeezes the private sector and discourages investment. The paper titled "Price Puzzle and Monetary Policy Transm
Published 29 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
Tight monetary policy hurts private sector: PIDE conference

Tight monetary policy hurts private sector: PIDE conference

The tight monetary policy stance through increase in the discount rate serves little to tame the inflation in prevailing situation instead it squeezes the private sector and discourages investment. The paper titled "Price Puzzle and Monetary Policy Transm
Published 29 Dec, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (December 28, 2010)and for Wednesday (December 29, 2010).
Published 29 Dec, 2010 12:00am
UAE tries two Pakistanis on Qaeda links: report

UAE tries two Pakistanis on Qaeda links: report

Two Pakistani brothers accused of collecting money and recruiting jihadists for al Qaeda have gone on trial in the United Arab Emirates, a daily reported on Tuesday. The Pakistanis are accused of collecting money and recruiting people for al Qaeda appeare
Published 29 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
UAE tries two Pakistanis on Qaeda links: report

UAE tries two Pakistanis on Qaeda links: report

Two Pakistani brothers accused of collecting money and recruiting jihadists for al Qaeda have gone on trial in the United Arab Emirates, a daily reported on Tuesday. The Pakistanis are accused of collecting money and recruiting people for al Qaeda appeare
Published 29 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 29 Dec, 2010 12:00am
Removal of Governor Punjab: LHC returns petition raising objections

Removal of Governor Punjab: LHC returns petition raising objections

The Lahore High Court (LHC) office returned back a petition with technical objections seeking removal of Governor Punjab Salman Taseer from his office for going abroad without any intimation. The petitioner a bar member Noshab A. Khan however, said that L
Published 29 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 29 Dec, 2010 12:00am
'PML-N ready to hold Munazra with MQM anywhere'

'PML-N ready to hold Munazra with MQM anywhere'

Pakistan Muslim League-Nawaz (PML-N) leader, MNA Khawaja Asif, has said that PML-N would welcome Muttahida Qaumi Movement (MQM) in Punjab. He was addressing a media briefing here on Tuesday, along with Pervaiz Rasheed and Nawaz Sharif's Political Secretar
Published 29 Dec, 2010 12:00am
Grievances of MQM to be removed: Awan

Grievances of MQM to be removed: Awan

Federal Minister for Law and Parliamentary Affairs, Babar Awan has said that all 'grievances' of Mutehida Qaumi Movement (MQM) will be removed. "I was part of the meeting of MQM delegation which met Prime Minister and President and also last night I had a
Published 29 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 28, 2010).

Published 29 Dec, 2010 12:00am
Four milkmen shot dead near Gambat

Four milkmen shot dead near Gambat

A gang of unidentified-armed men shot dead four milkmen near Gambat in the wee hours of Tuesday. The armed men intercepted six milkmen including Abdul Latif Ujjan, Dur Muhammad Ujjan, Khurshed Ujjan, Punhal Ujjan and two boys Iqrar Ujjan and Rasool Bux Uj
Published 29 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Tuesday (December 28, 2010) and the forecast for Wednesday (December 29, 2010).

Published 29 Dec, 2010 12:00am
Altaf endorses Rabita Committee's decision

Altaf endorses Rabita Committee's decision

Muttahida Qaumi Movement (MQM), Quaid Altaf Hussain on Tuesday ratified the decision of his party's Rabita Committee to quit the federal government. The MQM chief was addressing the party activists via telephone from London at "90" Azizabad here and Hyder
Published 29 Dec, 2010 12:00am
'Tees Maar Khan' launched with LUX association

'Tees Maar Khan' launched with LUX association

A star-studded night was witnessed at Atrium Cinema in the night of December 25 for special show of "Tees Maar Khan" in Pakistan. Tees Maar Khan launched with the association of LUX as a brand partner, and was well received by the media as well as the aud
Published 29 Dec, 2010 12:00am
New terminal at Sialkot Airport inaugurated

New terminal at Sialkot Airport inaugurated

The central leader of Pakistan Muslim League-N (PML-N), Khawaja Muhammad Asif on Tuesday inaugurated the newly constructed terminal, costing rupees six crore (rupees 60 million), at Sialkot International Airport. Addressing the inaugural ceremony, he said
Published 29 Dec, 2010 12:00am
AHC now listed in chemical sector

AHC now listed in chemical sector

The flagship company of the Arif Habib Group, Arif Habib Corporation Limited (AHC), which emerged from its beginnings in the financial sector, has now been re-classified by Dow Jones and FTSE Classification Benchmark (ICB) Advisory Committee in the chemic
Published 29 Dec, 2010 12:00am
Acute energy crisis crippling textile industry

Acute energy crisis crippling textile industry

Acute energy crisis has crippled the textile industry altogether, left with no option but to close one-third production due to non-availability of gas and electricity. Textile industry is left at the mercy of adverse circumstances where low pressure of ga
Published 29 Dec, 2010 12:00am
Car lifters' gang busted, vehicles recovered

Car lifters' gang busted, vehicles recovered

The Anti-Vehicles Lifting Staff of Iqbal Town Division, Lahore has arrested a famous ringleader of Tariq Javeed Shah car lifting gang and recovered 13 cars, one tractor and one motorcycle worth rupees 74 lakh and 50 thousand (over 0.74 million) from their
Published 29 Dec, 2010 12:00am
'Introduction of 3G networks enhancing quality of life'

'Introduction of 3G networks enhancing quality of life'

The Federal Minister for Information Technology Sardar Aseff Ahmed Ali has said the introduction of 3G networks, devices and services in countries around the world is enhancing quality of life and providing expanded economic opportunities, both in the pub
Published 29 Dec, 2010 12:00am
Political party's office attacked: one killed

Political party's office attacked: one killed

A youth was killed when unknown armed assailants attacked the office of a political party in Bhitaiabad late Tuesday. According to sources four activists of Awami National Party sustained serious injuries in the attack and were taken to Agha Khan Hospital
Published 29 Dec, 2010 12:00am
Four students injured in blast at Karachi University

Four students injured in blast at Karachi University

At least four students including activists of Imamia Students Organisation (ISO) were injured in a low intensity blast occurred in Karachi University on Tuesday. The blast occurred outside the Central Cafeteria near the stall of ISO. As a result four stud
Published 29 Dec, 2010 12:00am
Labourer killed as roof of a building collapses

Labourer killed as roof of a building collapses

One labourer was killed and two others injured seriously when a roof of under construction two storey building caved in at Girja village of Rawalpindi on Tuesday. According to eye-witnesses, three labourers Mansaf, Asif and Nazir were working in the under
Published 29 Dec, 2010 12:00am
Fertiliser offtake up 38 percent in November

Fertiliser offtake up 38 percent in November

Fertiliser offtake registered a decline of 2 percent year-on-year (YoY) to 7.8 million tons during the first eleven months of current calendar year 2010. According to National Fertiliser Development Centre's (NFDC) latest report, fertiliser offtake statis
Published 29 Dec, 2010 12:00am
Man deprived of Rs 1.4 million

Man deprived of Rs 1.4 million

At least Rs 1.4 million were looted from a person, Wakeel Ahmed, when he was depositing the amount in a bank situated in Shah Faisal Colony here on Tuesday. Official at Shah Faisal police station told Business Recorder that the two unidentified arm
Published 29 Dec, 2010 12:00am
Two political activists among 4 persons killed

Two political activists among 4 persons killed

Four persons including two activists of two political parties were killed here on Tuesday. A 24 years old Qadir Khan, son of Badshah Saeed was targeted and killed by unknown armed pillion riders near Bismillah Hotel, Pak Colony in the morning. His body wa
Published 29 Dec, 2010 12:00am
MPs criticise US drone attacks inside Pakistan

MPs criticise US drone attacks inside Pakistan

Parliamentarians on Tuesday severely criticised US drone attacks inside Pakistan, urging the government to revisit its foreign policy by taking the Parliament into confidence. While criticising the drone attacks, Aftab Ahmed Khan Sherpao said that the num
Published 29 Dec, 2010 12:00am
Ministry asked to recover rent arrears from 19 legislators

Ministry asked to recover rent arrears from 19 legislators

A special committee of Public Accounts Committee has directed the Ministry of Housing to recover arrears from 19 parliamentarians who were provided residential accommodation in federal lodges from January 1989 to October 1990. The special committee met un
Published 29 Dec, 2010 12:00am
70 fishermen arrive at Wahgah border

70 fishermen arrive at Wahgah border

A delegation of Fishermen Co-operative Society (FCS) on Tuesday received 70 Pakistanis including 52 fishermen at Wahgah Border as they arrived after their release from Indian jails. According to FCS, they were greeted by Society's officials with garlands
Published 29 Dec, 2010 12:00am
Three US missile strikes kill 17

Three US missile strikes kill 17

Three suspected US missile strikes targeting a militant-riddled tribal region near the Afghan border killed 17 people Tuesday, including at least two who were retrieving bodies from the first attack, intelligence officials said. The strikes come in the fi
Published 29 Dec, 2010 12:00am
Gas loadshedding: MPs urged not to dub the issue as discrimination

Gas loadshedding: MPs urged not to dub the issue as discrimination

Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar Tuesday urged the parliamentarians not to dub the issue of gas load shedding as discrimination with any province and assured that the domestic consumers would not face massive load she
Published 29 Dec, 2010 12:00am
Ruling elite of Balochistan always blackmailed government: PML-Q

Ruling elite of Balochistan always blackmailed government: PML-Q

Major political parties and elite class of Balochistan always blackmailed the government for their vested interests, rather for national interest. PML-Q leader Shaikh Waqas Akram expressed these views on the floor of the National Assembly on Tuesday.
Published 29 Dec, 2010 12:00am
Some steps for revenue generation inevitable: officials

Some steps for revenue generation inevitable: officials

Some measures for revenue generation are inevitable to bridge the gap on fiscal side in the present circumstances. Official sources told reporters on the conclusion of 26th annual general meeting and conference of the Pakistan Institute of Development Eco
Published 29 Dec, 2010 12:00am
Corrupt politicians have no right to appoint judges: Imran

Corrupt politicians have no right to appoint judges: Imran

The corrupt politicians have no right to appoint judges of the superior courts and the 19th Amendment is a conspiracy against independence of judiciary, Imran Khan, Chairman Pakistan Tehrik-e-Insaf (PTI) said at a "Meet the Press" programme here on Tuesda
Published 29 Dec, 2010 12:00am
Gilani returns home

Gilani returns home

Prime Minister Syed Yousuf Raza Gilani arrived here Tuesday night after his two-day official visit to Oman. Gilani during his two day stay in Muscat interacted with Ruler of Oman Sultan Qaboos bin Al Said and held meetings with Oman's Deputy Prime Ministe
Published 29 Dec, 2010 12:00am
Arrest of Shahzain: Talal lauds Altaf's stance

Arrest of Shahzain: Talal lauds Altaf's stance

Chief of Jamhoori Watan Party (JWP) Talal Bugti has appreciated the stance of Muttahida Qaumi Movement (MQM) Chief Altaf Hussain on arrest of JWP leader Nawabzada Shahzain Bugti. Talal Bugti said this during a telephonic conversation with member MQM Rabit
Published 29 Dec, 2010 12:00am
Chitral College fire causes Rs 10 million loss

Chitral College fire causes Rs 10 million loss

A mysterious fire on Monday night burnt the building, Chitral College of Education and turned furniture, record, books and other valuables into ashes. According to details, sudden fire was erupted in Chitral College of Education, Balatch during mid night
Published 29 Dec, 2010 12:00am
Unicef facing fund shortage for its programmes in flood-hit areas

Unicef facing fund shortage for its programmes in flood-hit areas

United Nations Children's Fund (Unicef) is facing shortage of fund to run its programmes in flood-hit areas and needs urgent funding to meet the needs of the victims. A recently released Unicef Flood Progress Report states that without further funding, Un
Published 29 Dec, 2010 12:00am
WEG, Punjab University's Department of Gender Studies sign MoU

WEG, Punjab University's Department of Gender Studies sign MoU

Punjab University's Department of Gender Studies and Women's Empowerment Group (WEG) have signed a Memorandum of Understanding (MoU) with the purpose of extending academic, research and technical co-operation on different women issues including economic e
Published 29 Dec, 2010 12:00am
Need for women development works at grass-root level stressed

Need for women development works at grass-root level stressed

Federal Minister for Women Development, Dr Firdous Ashiq Awan on Tuesday said that we need to do all the women development works at grass-root level, then we will achieve desired target. The federal minister during her first visit to the head office of th
Published 29 Dec, 2010 12:00am
Gabol condemns blast at Karachi University

Gabol condemns blast at Karachi University

Provincial Minister for Human Rights Nadia Gabol while condemning the blast incident occurred in Karachi University (KU) on Tuesday said that students' studies get affected from such incidents. Earlier, students were shifted to different hospitals that we
Published 29 Dec, 2010 12:00am
PTCL launches Vfone New Year offer

PTCL launches Vfone New Year offer

Pakistan Telecommunication Company LTD (PTCL) has launched country wide Vfone New Year offer, which has especially been designed to encourage the existing and potential vfone subscribers in Pakistan.
Published 29 Dec, 2010 12:00am
'Sindh government committed to making province polio free'

'Sindh government committed to making province polio free'

Sindh government is committed to eradicate polio and would take every possible step to make the province polio free while in this connection President Zardari has ordered to finalise National Emergency Action Plan 2011 to uproot polio from Pakistan.
Published 29 Dec, 2010 12:00am
FIPI inflow into equity market increases to $0.5 billion

FIPI inflow into equity market increases to $0.5 billion

The inflow of foreign investors portfolio investment (FIPI) at the country's equity market significantly increased to $0.5 billion in the year 2010 as compared to only $24 million came in the country in 2009. The data available here shows that the foreign
Published 29 Dec, 2010 12:00am
Court blocks libel lawsuit against Bangladeshi TI leaders

Court blocks libel lawsuit against Bangladeshi TI leaders

A Bangladeshi court on Sunday dismissed a lawsuit against leaders of the national chapter of Transparency International (TI) based on a technicality, hours after it issued an arrest warrant accusing them of tarnishing the judiciary's reputation. The rejec
Published 29 Dec, 2010 12:00am
'Price-hike creating intolerance, anxiety in society'

'Price-hike creating intolerance, anxiety in society'

Punjab Finance Minister Tanvir Ashraf Kaira has said that it is imperative to fight price-hike and unemployment on war footing, and thus a comprehensive strategy should be prepared both at the Federal and provincial levels. People want relief against incr
Published 29 Dec, 2010 12:00am
LCCI lauds appointment of Lesco Chairman

LCCI lauds appointment of Lesco Chairman

The Lahore Chamber of Commerce and Industry (LCCI) has congratulated the newly appointed Chairman Board of Directors (B0Ds) of Lahore Electric Supply Company (Lesco) Gohar Ijaz and hoped that he would evolve a comprehensive strategy with the consultation
Published 29 Dec, 2010 12:00am
Food relief plan in Bajaur to resume soon

Food relief plan in Bajaur to resume soon

Food relief programme in Bajaur, which was ceased as a suicide bomber killed 46 people outside a World Food Program (WFP) center on Saturday, would resume in the restive tribal region after security measures were in place and investigations completed.
Published 29 Dec, 2010 12:00am
Khyber Pakhtunkhwa to launch women caucus in IPMG

Khyber Pakhtunkhwa to launch women caucus in IPMG

The Social Welfare and Women Development Department of Khyber Pakhtunkhwa will launch a Women Caucus in the forthcoming Inter-Provincial Ministerial Group (IPMG) conference that will be held in Peshawar next month. The caucus will be a binding instrument
Published 29 Dec, 2010 12:00am
Need stressed for mainstreaming of governance reform

Need stressed for mainstreaming of governance reform

The Deputy Chairman of Planning Commission, Dr Nadeem-ul-Haq, has said that reform of governance and markets needs to be very seriously mainstreamed for addressing both macro-economic and growth issues. Addressing the 26th Annual General Meeting and Confe
Published 29 Dec, 2010 12:00am
Flood-hit families: German-based NGO distributes solar energy kits

Flood-hit families: German-based NGO distributes solar energy kits

German Aid for Afghan Children has distributed kits of solar energy producing system among 1000 flood affected families of Kaidaam and Gornai areas of district Swat for provision of electricity. For the installation of the solar system and wiring in the h
Published 29 Dec, 2010 12:00am
OGDCL clarification

OGDCL clarification

Apropos a news item carried by Business Recorder on 28th December, 2010 under caption OGDCL set to propose hefty pay for MD,2 GMs", which is false, concocted and not based on facts. The fact is that the pay of MD/CEO is neither on the agenda of the
Published 29 Dec, 2010 12:00am
Pakistan's envoy to Argentina visits FPCCI

Pakistan's envoy to Argentina visits FPCCI

Mrs Naela Chohan, Ambassador of Pakistan in Argentina, visited Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Monday. She met with Sultan Ahmed Chawla, President FPCCI and other members. She discussed the matters to the trade and econo
Published 29 Dec, 2010 12:00am
'GST on services transfer possible even under current VAT mode'

'GST on services transfer possible even under current VAT mode'

The transfer of powers from the federal government to provinces for collection of general sales tax (GST) on services is possible even under the existing value-added tax (VAT) mode. This was stated by Iffat Ara, from Social Policy and Development Centre (
Published 29 Dec, 2010 12:00am
CDA offers 16 residential plots for open auction

CDA offers 16 residential plots for open auction

The Capital Development Authority (CDA) has offered 16 residential plots for open auction out of which plot No 227-E measuring 500 square yards located in F-11/1 received the highest bid of Rs 45,000 per square yard. The Plot No 64 and 65 measuring 311 sq
Published 29 Dec, 2010 12:00am
BoK credit rating upgraded

BoK credit rating upgraded

The Bank of Khyber (BoK)'s credit rating has been up-graded by JCR-VIS from medium to long-term and short-term rating to " A-" (Single A Minus) and A-2(A-Two) from "BBB+(Triple B Plus) and A-3(A-Three) respectively. Outlook on the rating is "Stable", this
Published 29 Dec, 2010 12:00am
Low pressure of gas causes unrest among industrialists

Low pressure of gas causes unrest among industrialists

Although gas supply to industries of Faisalabad was restored on Tuesday after closure of four days, despite that most of the industrial units in Maqbool Road, Abdullahpur and some other industrial areas could not start work due to low pressure of gas.
Published 29 Dec, 2010 12:00am
Students to get interest-free loans

Students to get interest-free loans

Media Coordin-ator to Prime Minister, Khawaja Rizwan Alam, has said an amount of Rs 189.29 million will be disbursed as interest-free loans to deserving students for higher studies within Pakistan for the 2009-2010 session as approved by the apex committe
Published 29 Dec, 2010 12:00am
Plan Pakistan, PSED sign MoU

Plan Pakistan, PSED sign MoU

Plan Pakistan and Punjab School Education Department (PSED) have entered into an agreement for the provision of adequate financial, human resource and material support to rehabilitate 400 affected primary schools in revering areas of Layyah, Muzaffargarh
Published 29 Dec, 2010 12:00am
Horticulture conference

Horticulture conference

Planning Commission in collaboration with University of Agriculture Faisalabad is going to organise a one day conference on horticulture (fruits) at University of Agriculture Faisalabad on December 30, 2010 thereby to provide an independent forum to stake
Published 29 Dec, 2010 12:00am
Power shortfall touches 3,000 megawatts

Power shortfall touches 3,000 megawatts

Electricity consumers across the country have start facing approximately five-hour daily load shedding from December 26, likely to continue until January 31 due to canal desilting campaign. The power shortfall recorded during last 24 hours stood at 3000MW
Published 29 Dec, 2010 12:00am
PML-N, MQM again trade allegations against each other

PML-N, MQM again trade allegations against each other

Pakistan Muslim League-Nawaz (PML-N) and Muttahida Qaumi Movement (MQM) are once again at forefront and their leaders are exchanging allegations and counter allegations against each other. PML-N senior leader Khawaja Asif MNA told reporters here on Tuesda
Published 29 Dec, 2010 12:00am
'Urea prices will not be increased further'

'Urea prices will not be increased further'

"We would not let the lonely manufacturer of urea to increase its prices by Rs 190" said Punjab Minister for agriculture Malik Ahmed Ali Aulakh while talking to newsmen here on Wednesday. He said that there was no shortage of urea in the country. Furtherm
Published 29 Dec, 2010 12:00am
China to invest in energy, telecom, agriculture sectors

China to invest in energy, telecom, agriculture sectors

The Chinese trade delegation has assured to invest in energy, telecom, agriculture and many other sectors, which would bring large-scale investment and create vast employment opportunities in the country.
Published 29 Dec, 2010 12:00am
Fair distribution of gas: President MCCI hails Gilani's directives

Fair distribution of gas: President MCCI hails Gilani's directives

President of Multan Chamber of Commerce & Industry (MCCI) Shahid Naseem Khokhar has hailed the Prime Minister Gilani's directives for equitable distribution of gas, across the country and strict implementation of the ECC decisions. He demanded for impleme
Published 29 Dec, 2010 12:00am
Pakistan gets a breather

Pakistan gets a breather

The announcement that the International Monetary Fund (IMF) has agreed to Pakistan's request to extend the Stand-By Arrangement (SBA) from 23 to 36 months would certainly provide a great deal of relief to the relevant authorities in the country. It was in
Published 29 Dec, 2010 12:00am
MQM's calibrated move

MQM's calibrated move

The Muttahida Quami Movement (MQM) has announced its exit from the federal cabinet, but insists it would not sit on the Opposition benches in the Parliament. Nor will it leave the ruling coalition headed by the Pakistan People's Party (PPP) in Sindh. All
Published 29 Dec, 2010 12:00am
Taxing wealth would be unproductive?

Taxing wealth would be unproductive?

Pakistan has a very low rate of tax collection to GDP ratio which hovers around 9 percent and is among the lowest in the region. Currently, only 2.75 million Pakistanis or 1.6 percent of the country's population, are registered tax-payers. Out of these, o
Published 29 Dec, 2010 12:00am
Two years on the spectre of Israeli aggression still hangs over Gaza

Two years on the spectre of Israeli aggression still hangs over Gaza

It has been two years since Ibrahim Samouni lost his wife and five children in the three-week Israeli army aggression against Gaza Strip militias - and he still bursts into tears when he talks about them. "They were all killed in a minute and were buried
Published 29 Dec, 2010 12:00am
M A Zuberi

M A Zuberi

The nation has lost a pioneer of economic and financial journalism and the void will be impossible to fulfil. The invaluable contribution of the late M A Zuberi for the promotion of healthy journalism as well as the social services for the people of Pakis
Published 29 Dec, 2010 12:00am
II

II

It was a great sense of loss when I heard of M A Zuberi's demise. He was a wonderful and kind man. He was always considerate to us and I always welcomed every given opportunity of meeting him. I know that his passing will not only leave a void in our live
Published 29 Dec, 2010 12:00am
III

III

M A Zuberi indeed was an illustrious man who has left his mark not only in the field of journalism but as an icon of that industry. That he groomed his sons into the business must have given him a great sense of accomplishment and satisfaction.
Published 29 Dec, 2010 12:00am
IV

IV

M A Zuberi will be remembered for his pioneering role in the history of journalism in Pakistan.
Published 29 Dec, 2010 12:00am
Turkish relief assistance for flood survivors hailed

Turkish relief assistance for flood survivors hailed

According to the information of DGPR received here Tuesday, Punjab Chief Minister, Muhammad Shahbaz Sharif has said that the generous help and assistance to the flood survivors by Turk people will always be remembered.
Published 29 Dec, 2010 12:00am
Pressure builds on PPP-led coalition

Pressure builds on PPP-led coalition

Pakistan's unpopular coalition government came under further pressure Tuesday with its second-largest partner poised to quit the cabinet and a leading politician calling on the prime minister to resign. The Muttahida Qaumi Movement (MQM) said it was withd
Published 29 Dec, 2010 12:00am
20th constitutional amendment demanded for more provinces

20th constitutional amendment demanded for more provinces

The torchbearer of Hazara 'province' movement, Baba Haider Zaman on Tuesday demanded of 20th constitutional amendment for creating more provinces. Speaking at a news conference here at National Press Club, he vowed that the movement would be continue unti
Published 29 Dec, 2010 12:00am
Flood survivors: Iran donates relief goods worth Rs 15 million

Flood survivors: Iran donates relief goods worth Rs 15 million

Lahore Chamber of Commerce and Industry on Tuesday handed over eight wagonloads of relief goods worth rupees 15 million, donated by Iran Chamber of Commerce and Industry, to Disaster Management Cell for their onward dispatch to the flood-affected areas.
Published 29 Dec, 2010 12:00am
'Taseer a crony of Musharraf'

'Taseer a crony of Musharraf'

Member Punjab Assembly, Dr Saeed Elahi has said that Governor Punjab Salmaan Taseer has nothing to do with the mission of Mohtarma Benazir and he is only furthering the agenda of General Musharraf. He said that Salmaan Taseer is only shedding crocodile's
Published 29 Dec, 2010 12:00am
Kayani addresses officers of Malir Garrison

Kayani addresses officers of Malir Garrison

Chief of the Army Staff (COAS), General, Ashfaq Parvez Kayani visited Karachi on Tuesday. An ISPR press release said that the COAS addressed the officers of Karachi Garrison. He spoke about the domestic and regional security issues and also dilated upon t
Published 29 Dec, 2010 12:00am
Dacoits take away Rs six million from bank

Dacoits take away Rs six million from bank

Five armed robbers on Tuesday looted Rs 6 million from Habib Bank Limited's Morra Nagial Swan Camp branch and managed to escape. According to eye witnesses, five armed persons entered Habib Bank branch of Mora Nagial Swan Camp in the jurisdiction of Sihal
Published 29 Dec, 2010 12:00am
Conference on leather sector today

Conference on leather sector today

University of Veterinary and Animal Sciences Lahore (UVAS) is organising a national conference titled "Pakistan's Leather Sector Challenges & Opportunities" at Conference Hall on Wednesday (today). The conference is sponsored by Higher Education Commissio
Published 29 Dec, 2010 12:00am
Agriculture credit registered phenomenal growth in last five years

Agriculture credit registered phenomenal growth in last five years

The agriculture credit has registered phenomenal growth in the last five years, ie 80.49 percent as recently it touched Rs 248.12 billion from Rs 137.47 billion in 2005. According to documents made available to the Business Recorder, in 2005 all the Pakis
Published 29 Dec, 2010 12:00am
There is no communication gap with India: Gilani

There is no communication gap with India: Gilani

Prime Minister, Syed Yousuf Raza Gilani on Tuesday denied any communication gap with India on the resolution of core issue of Kashmir and other outstanding issues, but asked it 'not to hold the dialogue process hostage to the Mumbai incident'.
Published 29 Dec, 2010 12:00am
2011 decisive for US strategy in Afghanistan-Pakistan

2011 decisive for US strategy in Afghanistan-Pakistan

US strategy to defeat al Qaeda and the Taliban tripled American troops fighting in Afghanistan and doubled missile strikes in Pakistan, but ushers in a make-or-break 2011 after a year of record violence. Since taking office, President Barack Obama ordered
Published 29 Dec, 2010 12:00am
US MIDDAY: copper hits new record top

US MIDDAY: copper hits new record top

US copper futures rumbled to a new record top in thin dealings early on Tuesday, propped up by sharp falls in the dollar, a strong Chinese currency and threats of supply disruptions, analysts said. The benchmark fourth month copper contract on the COMEX d
Published 29 Dec, 2010 12:00am
US MIDDAY: gold, silver jump

US MIDDAY: gold, silver jump

Gold prices jumped nearly 1.5 percent and silver streaked toward a 30-year record early on Tuesday, as thin volume and bullish hopes for next year drove bullion above $1,400 an ounce for the first time in two weeks. "There's a little year-end rush to see
Published 29 Dec, 2010 12:00am
US MIDDAY: grains hit new highs

US MIDDAY: grains hit new highs

Wheat futures on the Chicago Board of Trade rallied 2 percent on Tuesday, rising above $8 a bushel for the first time since August on wheat sales to Egypt, traders said. Wheat also gained ground versus corn on intermarket spreading. Corn set a 29-month-hi
Published 29 Dec, 2010 12:00am
US MIDDAY: sugar at 30-year peak

US MIDDAY: sugar at 30-year peak

Raw sugar futures surged Tuesday to a 30-year high on trade and speculative buying, but dealings were thin as most players were away until after the New Year, analysts said. Soft commodity markets in London were shut for the Christmas holiday and will reo
Published 29 Dec, 2010 12:00am
Gold up on dollar weakness, Asian buying

Gold up on dollar weakness, Asian buying

Spot gold prices firmed on Tuesday as it was supported by a weaker dollar and buying interest in Asia, while investors hoped for a further rally in prices next year. Spot gold gained more than half a percent to $1,391.55 an ounce by 0537 GMT. US gold futu
Published 29 Dec, 2010 12:00am
Gold barely changed in US

Gold barely changed in US

Gold settled barely changed in thin volume on Monday, unscathed by China's rate hike, as the precious metal resumed futures trading in New York after the Christmas break. The physical bullion market was quiet with London traders on holiday. US gold future
Published 29 Dec, 2010 12:00am
Oil rises to over $91 despite dollar strength

Oil rises to over $91 despite dollar strength

Oil prices rose 47 cents on Tuesday, clawing back much of Monday's 51 cent loss and settling within striking distance of a 24-month high struck early the previous session. US crude found early support as the dollar slipped against a basket of currencies.
Published 29 Dec, 2010 12:00am
Shanghai copper gains

Shanghai copper gains

US copper futures rallied to a record high on Tuesday, and Shanghai metal gained almost 1 percent, supported by sharp falls in the dollar, a strong Chinese currency and supply threats. The benchmark fourth month copper contract on COMEX rallied 0.6 percen
Published 29 Dec, 2010 12:00am
US copper at all-time high

US copper at all-time high

US copper prices rose to an all-time high on Monday, quickly resuming this year's 28 percent rally after a brief dip following China's Christmas Day increase in interest rates. Most analyst say Beijing's quarter-point rate increase is unlikely to deter de
Published 29 Dec, 2010 12:00am
New high for Paris wheat

New high for Paris wheat

European milling wheat futures rose to fresh contract highs on Tuesday as weather concerns and strong US prices kept the market on edge and offset news that Egypt had overlooked French wheat in a latest import tender. Paris prices drew strength in afterno
Published 29 Dec, 2010 12:00am
US soyabeans extend rally

US soyabeans extend rally

Soyabean futures on the Chicago Board of Trade rose for a sixth straight session on Monday, climbing 1.7 percent as forecasts for hot, dry weather stoked fears about crop prospects in Argentina, the world's No 3 soya exporter, traders said. CBOT January s
Published 29 Dec, 2010 12:00am
Cocoa posts modest gains

Cocoa posts modest gains

Cocoa futures posted modest gains on Monday after the holiday break as players feared the threat of fighting in top grower Ivory Coast could disrupt bean supplies, analysts said. New York soft commodity markets were closed last Friday for Christmas. Their
Published 29 Dec, 2010 12:00am
Malaysian palm oil hits fresh 33-month highs

Malaysian palm oil hits fresh 33-month highs

Malaysian crude palm oil futures rose to fresh 33-month highs on Tuesday, driven by prospects of erratic weather sapping vegetable oil supplies at a time when demand remains resilient. Heavy rains due to the monsoon season normally hamper the harvesting o
Published 29 Dec, 2010 12:00am
Tokyo rubber futures down

Tokyo rubber futures down

Tokyo rubber futures slipped more than 2 percent on Tuesday, moving away from a lifetime high hit the previous day, as a firmer yen against the US dollar ignited selling from speculators. The most active contract on the key Tokyo Commodity Exchange, curre
Published 29 Dec, 2010 12:00am
New York cotton ends easier in thin, range-bound trade

New York cotton ends easier in thin, range-bound trade

US cotton futures closed lower on Tuesday on light investor sales as the market remained trapped in a range, with many big investors expected to stay away for the rest of the year, analysts said. The key March cotton contract on ICE Futures US fell 1.41 c
Published 29 Dec, 2010 12:00am
Blizzard spreads chaos in US northeast, Canada

Blizzard spreads chaos in US northeast, Canada

A powerful blizzard that pummelled the US northeast churned into Canada as swirling winds and snow kept much of the region in chaos early Tuesday, with air travel and roadways still struggling. The storm that started early Sunday began to abate Monday as
Published 29 Dec, 2010 12:00am
South Korea schools get robot English teachers

South Korea schools get robot English teachers

Almost 30 robots have started teaching English to youngsters in a South Korean city, education officials said Tuesday, in a pilot project designed to nurture the nascent robot industry. Engkey, a white, egg-shaped robot developed by the Korea Institute of
Published 29 Dec, 2010 12:00am
Belarus' Lukashenko reshuffles government, names new Prime Minister

Belarus' Lukashenko reshuffles government, names new Prime Minister

Belarussian President Alexander Lukashenko replaced his prime minister of seven years on Tuesday with another long-time ally in a reshuffle that comes less than two weeks after the presidential election. The country's opposition and international observer
Published 29 Dec, 2010 12:00am
Israel says London home to Hamas hub

Israel says London home to Hamas hub

Israel's defence ministry has accused a London-based Palestinian centre of "terror-affiliated activities" and being the organisational arm of the militant Islamic Hamas movement in Europe. Hamas, which controls the Gaza Strip and advocates violent opposit
Published 29 Dec, 2010 12:00am
Israeli gunfire kills one in Gaza

Israeli gunfire kills one in Gaza

Israeli gunfire and tank shelling killed one Palestinian and wounded five others east of Khan Yunis in Gaza on Tuesday, a Palestinian medical source and witnesses told AFP. Adham Abu Selmiya, a spokesman for the Hamas-run medical services in Gaza, and hos
Published 29 Dec, 2010 12:00am
Iran hangs 'Mossad spy'

Iran hangs 'Mossad spy'

Iran on Tuesday hanged a man found guilty of feeding Israeli spy agency Mossad with Iranian military secrets and information on its missile programme over a period of six years, news agency IRNA reported. Ali Akbar Siadat was hanged in Tehran's Evin priso
Published 29 Dec, 2010 12:00am
Thailand ends emergency rule in part of restive south

Thailand ends emergency rule in part of restive south

Thailand's cabinet agreed Tuesday to lift a five-year-old state of emergency in one area of its restive deep south as a test case for the rest of the Muslim-majority region, officials said. The emergency laws - which give broad powers to security forces -
Published 29 Dec, 2010 12:00am
Thousands stuck in Moscow airports

Thousands stuck in Moscow airports

Irate holidaymakers beat up Aeroflot staff at a Moscow airport on Tuesday as thousands were stranded with little food or information, after icy rain and blackouts disrupted traffic for a third straight day. At Sheremetyevo where Russia's flagship carrier
Published 29 Dec, 2010 12:00am
Spain and Russia in tit-for-tat diplomatic expulsions

Spain and Russia in tit-for-tat diplomatic expulsions

Spain has expelled two Russian diplomats in a move that triggered a tit-for-tat reaction from Moscow, the foreign ministry said Tuesday. The two Russian embassy staffers were asked to leave the country for having "engaged in activities incompatible with t
Published 29 Dec, 2010 12:00am
US plans push for fissile material ban

US plans push for fissile material ban

The United States plans to revive diplomatic efforts next year to halt production of weapons-grade plutonium and uranium, a special adviser to President Barack Obama told a German newspaper. In an interview with the Sueddeutsche Zeitung published on Tuesd
Published 29 Dec, 2010 12:00am
China steps up anti-carrier missile tests: US commander

China steps up anti-carrier missile tests: US commander

China is stepping up efforts to deploy a "carrier-killer" missile system, the commander of the US Pacific Command has said in an interview with a Japanese newspaper, published Tuesday. "The anti-ship ballistic missile system in China has undergone extensi
Published 29 Dec, 2010 12:00am
Nepal allows foreign adoption of disabled children

Nepal allows foreign adoption of disabled children

Nepal has amended legislation to allow disabled children to be adopted abroad, a government official said Tuesday, two years after a scandal over "fake" orphans. The country introduced new adoption laws in 2008 following reports of unscrupulous agents tra
Published 29 Dec, 2010 12:00am
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