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Archive - 2011-01-17
BP wins right to explore in Australia
Top News

BP wins right to explore in Australia

SYDNEY: Australia on Monday gave BP permission to explore for oil off its south coast, saying the company had agreed to
Published 17 Jan, 2011 09:34am
Afghan govt taxes US aid
Asia

Afghan govt taxes US aid

WASHINGTON: The Afghan government has imposed taxes on US contractors operating in the country, risking new confrontatio
Published 17 Jan, 2011 09:25am
At least 18 killed in Hangu gas blast
Top News

At least 18 killed in Hangu gas blast

PESHAWAR: A blast caused by exploding gas cylinders ripped through a minibus in Hangu on Monday, killing at least 18 peo
Published 17 Jan, 2011 09:15am
Time to look beyond Bhasha
BR Research

Time to look beyond Bhasha

As much as the US keeps on making Pakistanis believe that it is serious in helping its front-line ally in resolving the pressing energy cris
Published 17 Jan, 2011 12:00am
No country for journalists
BR Research

No country for journalists

Another journalist was killed last week. His name was Wali Khan Babar. Wali, like many of his fellows killed last year - making Pakistan the
Published 17 Jan, 2011 12:00am
Qatar storm into Asian Cup quarter-finals

Qatar storm into Asian Cup quarter-finals

Qatar stormed into the Asian Cup quarter-finals for only the second time in their history on Sunday with a commanding 3-0 victory over Gulf champions Kuwait, who were eliminated from the tournament. They went through after Uzbekistan drew 2-2 with China t
Published 17 Jan, 2011 12:00am
Richardson named new West Indies team manager

Richardson named new West Indies team manager

Former international batsman Richie Richardson has been named the new West Indies team manager, the West Indies Cricket Board said on Saturday. Richardson, who played 86 test matches and 224 one-day internationals, scoring a total of 21 centuries, replace
Published 17 Jan, 2011 12:00am
Sell-out crowd for flood relief show

Sell-out crowd for flood relief show

Tennis's biggest names thrilled a sell-out crowd of 15,000 on Sunday in an entertaining "Rally for Relief" to raise money for Australia's devastating floods. Roger Federer and Rafael Nadal led a parade of leading men's and women's players for the comedy h
Published 17 Jan, 2011 12:00am
Toyota may shift to foreign production

Toyota may shift to foreign production

Toyota Motor will consider shifting factories overseas if the yen stays high and puts pressure on its profits, the company president said. "We do not wish to relocate production sites because of currencies and foreign exchange alone," Akio Toyoda said in
Published 17 Jan, 2011 12:00am
Mitsubishi to target Brazil, India

Mitsubishi to target Brazil, India

Mitsubishi Motors will streamline production in Japan, the United States and Europe while increasing output in emerging markets including Brazil and India, a report said on January 15. By redistributing resources, the automaker aims to lift global product
Published 17 Jan, 2011 12:00am
Japan banks pursue project finance deals, eye India

Japan banks pursue project finance deals, eye India

Japanese lenders like Mitsubishi UFJ Financial Group are aggressively pursuing project financing deals around the world, intensifying competition with traditional French rivals as well as local players in hot new markets like India.
Published 17 Jan, 2011 12:00am
Credit Suisse, Glencore aim to triple index investment

Credit Suisse, Glencore aim to triple index investment

Credit Suisse and Glencore are aiming to triple investment in their actively managed commodity index this year, leveraging the physical market knowledge of the world's largest commodity trader.
Published 17 Jan, 2011 12:00am
Qatar Islamic Bank eyes in Indonesia acquisitions

Qatar Islamic Bank eyes in Indonesia acquisitions

Qatar Islamic Bank is hunting for acquisition targets in Indonesia to strengthen its presence in Asia and tap demand for sharia banking products in the world's most populous Muslim nation, the head of its Malaysian unit said on January 12.
Published 17 Jan, 2011 12:00am
Canon says plans to buy back more shares

Canon says plans to buy back more shares

Camera and printer giant Canon Inc said it will buy back more shares this year if the price falls, in keeping with its strategy of having treasury stock on hand in case an attractive acquisition target comes along.
Published 17 Jan, 2011 12:00am
GM aims to produce 25,000 volt cars in 2011

GM aims to produce 25,000 volt cars in 2011

General Motors plans to build some 25,000 Chevrolet Volt cars this year to meet a strong demand for the plug-in electric vehicle, chairman and chief executive Dan Akerson said. "We have been pleased and a bit surprised with the initial demands, initial or
Published 17 Jan, 2011 12:00am
YouTube mobile video viewing tops 200 million per day

YouTube mobile video viewing tops 200 million per day

YouTube on January 12 said that it is serving up more than 200 million videos daily to smartphones and other Internet-linked mobile devices. News of the milestone came as the Google-owned video-sharing service began routing Vevo music videos from artists
Published 17 Jan, 2011 12:00am
Taiwan develops face-recognising vending machine

Taiwan develops face-recognising vending machine

A face-recognising vending machine developed in Taiwan is able to offer hair-growing tonic to balding men and razors to people with beards, one of the inventors said on January 14. The vending machine, from Taipei-based Innovative DigiTech-Enabled Applica
Published 17 Jan, 2011 12:00am
NTT Docomo, Dai Nippon launch e-book service

NTT Docomo, Dai Nippon launch e-book service

Japanese telecom giant NTT Docomo and publisher Dai Nippon Printing (DNP) on January 11 announced a joint e-book service to take advantage of a wave of launches of tablet computers and e-readers.
Published 17 Jan, 2011 12:00am
Beware of Kama Sutra virus

Beware of Kama Sutra virus

Sophos computer security firm on January 14 warned that hackers are spreading a nasty computer virus with a file promising a PowerPoint presentation of sexual positions from the Kama Sutra. "Be careful what you do with that mouse," Graham Cluley of Sophos
Published 17 Jan, 2011 12:00am
Motorola Xoom tablet crowned best CES gadget

Motorola Xoom tablet crowned best CES gadget

Motorola Mobility's Xoom tablet computer powered by new "Honeycomb" software from Google was crowned the best gadget at the giant Consumer Electronics Show (CES) on January 8. Along with being declared the top creation at the dazzling gadget extravaganza,
Published 17 Jan, 2011 12:00am
German firm develops Internet eraser for photos

German firm develops Internet eraser for photos

A German firm is poised to launch software allowing users to have photos uploaded to websites such as Facebook, MySpace and Flickr erased automatically after a certain time, its head said January 12. The software should prevent the increasingly frequent o
Published 17 Jan, 2011 12:00am
Apple's iPad enters Singapore classrooms

Apple's iPad enters Singapore classrooms

Four schools in Singapore, the wealthy city-state, have begun handing out Apple iPads to students, relieving them of the need to carry satchels full of bulging textbooks and notes.
Published 17 Jan, 2011 12:00am
Mobile application takes on India's cheating tuk-tuk drivers

Mobile application takes on India's cheating tuk-tuk drivers

It could spell the end for cheating auto-rickshaw drivers in India, the scourge of commuters and foreign tourists alike. An Indian company has developed a mobile phone application that allows consumers to calculate what fare they should pay for a journey
Published 17 Jan, 2011 12:00am
Mobile broadband users on track to surpass 1bn in 2011

Mobile broadband users on track to surpass 1bn in 2011

Mobile broadband subscriptions are on track to surpass one billion in 2011 only months after reaching half a billion, Ericsson said on January 11, highlighting a key growth driver for the telecom sector.
Published 17 Jan, 2011 12:00am
107 trillion emails sent last year: Pingdom

107 trillion emails sent last year: Pingdom

Internet users sent a total of 107 trillion emails last year, most of them spam, according to a Web monitoring service. The number of emails sent last year were among the facts and figures about the Internet gathered by Pingdom from various sources and pu
Published 17 Jan, 2011 12:00am
Paris police use Facebook for car crash witnesses

Paris police use Facebook for car crash witnesses

Internet-savvy police in Paris have started using social networks such as Facebook to appeal for witnesses to traffic accidents in a move some residents say smacks of Big Brother-style spying tactics.
Published 17 Jan, 2011 12:00am
Google turns Android smartphones into interpreters

Google turns Android smartphones into interpreters

Google on January 12 began turning Android-powered smartphones into interpreters with experimental software that lets the handsets translate conversations in real time. An in-the-works version of "Conversation Mode" was made available as the California-ba
Published 17 Jan, 2011 12:00am
Warming to devastate glaciers, Antarctic icesheet

Warming to devastate glaciers, Antarctic icesheet

Global warming may wipe out three-quarters of Europe's alpine glaciers by 2100 and hike sea levels by four metres (13 feet) by the year 3000 through melting the West Antarctic icesheet, two studies published on January 09 said.
Published 17 Jan, 2011 12:00am
Massive black hole discovered in nearby galaxy

Massive black hole discovered in nearby galaxy

US astronomers have discovered a huge black hole, a million times the mass of the sun, in a nearby galaxy - a finding that could help better understand the origins of the universe.
Published 17 Jan, 2011 12:00am
NASA spots tiny Earth-like planet

NASA spots tiny Earth-like planet

NASA has spotted a tiny, rocky planet about the size of Earth doing a speedy orbit of a star outside our solar system, but its scorching temperatures are too hot for life, the space agency said on January 10. The exoplanet, named Kepler-10b, is the smalle
Published 17 Jan, 2011 12:00am
2010 hottest year on Indian records

2010 hottest year on Indian records

India experienced its hottest year on record in 2010, the Indian Meteorological Department (IMD) said on January 14, blaming the rise in temperatures on global warming. India's mean annual temperature during 2010 was 0.93 degrees Celsius (33.6 Fahrenheit)
Published 17 Jan, 2011 12:00am
Drug-resistant malaria could spread fast

Drug-resistant malaria could spread fast

Drug-resistant malaria could spread from south-east Asia to Africa within months, putting millions of children's lives at risk, a leading expert warned on January 12.
Published 17 Jan, 2011 12:00am
Natural disasters killed 295,000 in 2010

Natural disasters killed 295,000 in 2010

The Haiti earthquake, floods in Pakistan and China helped make 2010 an exceptional year for natural disasters, killing 295,000 and costing 130 billion dollars, the world's top reinsurer said on January 10.
Published 17 Jan, 2011 12:00am
Swine flu survivors develop super flu antibodies

Swine flu survivors develop super flu antibodies

A study of antibodies from people infected with H1N1 swine flu adds proof that scientists are closing in on a "universal" flu shot that could neutralise many types of flu strains, including H1N1 swine flu and H5N1 bird flu, US researchers said.
Published 17 Jan, 2011 12:00am
Despite poor domestic business conditions, cotton market stays steady

Despite poor domestic business conditions, cotton market stays steady

Cotton crop is drawing closer to an end as about 90 percent of the expected amount of crop (10.24 million local weight bales) have already reached ginneries by the end of December month and by 15th January, 2011, total arrivals of seed-cotton equivalent o
Published 17 Jan, 2011 12:00am
Despite poor domestic business conditions, cotton market stays steady

Despite poor domestic business conditions, cotton market stays steady

Cotton crop is drawing closer to an end as about 90 percent of the expected amount of crop (10.24 million local weight bales) have already reached ginneries by the end of December month and by 15th January, 2011, total arrivals of seed-cotton equivalent o
Published 17 Jan, 2011 12:00am
MONEY WEEK: politics over Economics

MONEY WEEK: politics over Economics

The Economist terms the reversal of the fuel price hike as "Economic Blasphemy" while the Financial Times and the IMF communiqué have also been critical over this ad-hoc, impulsive decision. Yet, politics-over-economics seems to be the order of the day.
Published 17 Jan, 2011 12:00am
Two Nato vehicles torched

Two Nato vehicles torched

Unknown torched two Nato supply oil tankers in Surab Sunday. According to details, miscreants opened fire on two Nato oil tankers at Tariki area of Surab some 50 miles north of Khuzdar along RCD highway today. Tankers were destroyed in firing while oil wa
Published 17 Jan, 2011 12:00am
Karachi to have cold night today

Karachi to have cold night today

The Met Office has forecast fair weather with cold night in Karachi on Monday. The minimum temperature in the city is expected to be 07 to 09 degrees centigrade. Cold and dry weather would prevail over the region.
Published 17 Jan, 2011 12:00am
Two children injured in Quetta blast

Two children injured in Quetta blast

Two children were injured in an accidental explosion in Nawan Killi area of the city on Sunday. According to police, they were identified as Kamran, son of Sahib Khan Kakar and Rehmanullah, son of Haji Kabeer Kakar. They have been shifted to Civil Hospita
Published 17 Jan, 2011 12:00am
SSUET students bag top positions in declamation contest

SSUET students bag top positions in declamation contest

Students of Sir Syed University of Engineering and Technology (SSUET) bagged top positions at Allama Iqbal Shield declamation contest organised by Higher Education Commission. An announcement of the institution, here on Sunday, said that the event was org
Published 17 Jan, 2011 12:00am
New academic session at KU begins today

New academic session at KU begins today

The classes of the new academic session at Karachi University for year 2011 will begin from January 17 (today). A senior varsity official said that the session had commenced from Saturday. On the opening day, orientation sessions were conducted at the tea
Published 17 Jan, 2011 12:00am
Two MQM activists gunned down

Two MQM activists gunned down

Two MQM activists were gunned down by unidentified assailants in the remits of Risala Police Station, here on Sunday. A gang of armed men opened fire on Kashif, aged 30, and Jaffer, aged 35, near Nanankwara in Risala Police precincts. As a result, they su
Published 17 Jan, 2011 12:00am
Pillion riding banned during night hours

Pillion riding banned during night hours

The patrolling of law enforcing agencies will be boosted and pillion riding will be banned during night hours in sensitive areas of the metropolis in the wake of growing cases of targeted killings.
Published 17 Jan, 2011 12:00am
Three miscreants arrested

Three miscreants arrested

The security forces arrested three suspects during search and cordoned operation here Sunday and shifted them to undisclosed location for interrogation. Official sources said the security forces and Khasadar Force jointly took prompt action on a tip-off a
Published 17 Jan, 2011 12:00am
Slow achievement of TARP objectives: FBR asked to exlpain reasons

Slow achievement of TARP objectives: FBR asked to exlpain reasons

The Auditor-General of Pakistan has asked the Federal Board of Revenue (FBR) to explain reasons for slow achievements of the objectives of the Tax Administration Reform Project (TARP), a project launched in 2004 for reforming the FBR into a more efficient
Published 17 Jan, 2011 12:00am
Access to national database: FBR to sign agreement with Nadra

Access to national database: FBR to sign agreement with Nadra

The Federal Board of Revenue (FBR) is going to sign an agreement with Nadra to access national database for broadening of tax base. This was stated by FBR Chairman Salman Siddique during his brief visit to Recorder House along with Member Customs Munir Qu
Published 17 Jan, 2011 12:00am
Sheikh, KIA Chairman: discuss ways to enhance trade

Sheikh, KIA Chairman: discuss ways to enhance trade

Finance Minister Dr. Abdul Hafeez Sheikh met with Chairman of Kuwait Investment Authority (KIA) Bader Al-Sa'ad on Sunday to discuss bilateral trade and investment. They discussed ways to enhance diversified relations, specially the investment in Pakistan
Published 17 Jan, 2011 12:00am
Prime Minister for resolving issues through consensus, reconciliation

Prime Minister for resolving issues through consensus, reconciliation

Prime Minister, Syed Yousuf Raza Gilani has said that policy of reconciliation and consensus has played a pivotal role in sorting out major issues faced by the country. Policy of reconciliation should be pursued in letter and spirit in the days to come fo
Published 17 Jan, 2011 12:00am
Bank of Khyber declares profit rates

Bank of Khyber declares profit rates

The Bank of Khyber (BoK) (Conventional Branches Only) has declared profit rates on various PLS Deposits for the half year ended December 31, 2010 at the following rates from July 01, 2010 to December 31, 201.

Published 17 Jan, 2011 12:00am
Bank of Khyber declares profit rates

Bank of Khyber declares profit rates

The Bank of Khyber (BoK) (Conventional Branches Only) has declared profit rates on various PLS Deposits for the half year ended December 31, 2010 at the following rates from July 01, 2010 to December 31, 201.

Published 17 Jan, 2011 12:00am
Rising incidence of NPLs

Rising incidence of NPLs

The rising level of non-performing loans (NPLs) of financial institutions continues to be a great source of anxiety to the monetary authorities of Pakistan. According to a news item in Business Recorder of 13th January, 2011, NPLs of the banking sy
Published 17 Jan, 2011 12:00am
Task before Comstech

Task before Comstech

Amongst the world's universities, the three located in the Muslim countries - Al-Azhar in Egypt, Al-Karaouine in Morocco and Nizamiyya in Iran - stand out as the oldest and most distinguished. And, the world is still beholden to the pioneering works by Mu
Published 17 Jan, 2011 12:00am
Taseer's assassination

Taseer's assassination

Salmaan Taseer's murder has generated considerable debate in the country on how to deal with the rising power of the religious right that openly condones an individual felonious act. While the PPP has claimed its founder Zulfikar Ali Bhutto's death as jud
Published 17 Jan, 2011 12:00am
Nato forces withdrawal: Security imperil in Afghanistan

Nato forces withdrawal: Security imperil in Afghanistan

Is the fragile security of Afghanistan securing by the ill-equipped and untrained Afghan national security forces? Reinvigorating internal security of war-ravaged Afghanistan is top agenda of the US-led alliance countries.
Published 17 Jan, 2011 12:00am
Elections looming, Singapore aims to curb news website

Elections looming, Singapore aims to curb news website

With general elections likely to be called later this year, Singapore aims to curb a popular news website known for its critical stance on government policies. But on Friday the editors of The Online Citizen (TOC) urged Prime Minister Lee Hsien Loong to r
Published 17 Jan, 2011 12:00am
Interim technocratic setup

Interim technocratic setup

To acknowledge and say that Pakistan, today, is at the brink of disaster as an entity and its economy virtually on the verge of total collapse, would be an understatement of facts and reality. Give another two years to the present corrupt to the core ruli
Published 17 Jan, 2011 12:00am
Gilani for free, robust media

Gilani for free, robust media

Prime Minister Yousuf Raza Gilani has said that a free and robust media is the main pillar of government's media policy. "Free media is a deterrent against dictatorial and authoritarian tendencies," he said while talking to a group of journalists from ele
Published 17 Jan, 2011 12:00am
Revenue can be increased through fair tax administration: FTO

Revenue can be increased through fair tax administration: FTO

Federal Tax Ombudsman Dr. Shoaib Suddle has said that revenue collection can be increased through a good and fair tax administration and giving confidence to taxpayers. He was addressing the officers of Large Taxpayers Unit (LTU), Regional Tax Offices and
Published 17 Jan, 2011 12:00am
Fire erupts in commercial plaza

Fire erupts in commercial plaza

A fire broke out suddenly in the plaza building in the Blue area, commercial centre of capital territory on Sunday night. According to detail, the fire broke out suddenly at around 9 pm at the fourth floor of Beverly Centre adjacent to a PSO petrol statio
Published 17 Jan, 2011 12:00am
Construction of school: EDO Education suspended for inaction

Construction of school: EDO Education suspended for inaction

Punjab Chief Minister, Muhammad Shahbaz Sharif here on Sunday ordered immediate suspension of Executive District Officer Education (EDO Education), Dr. Muhammad Arshad and directed action against other officers for their failure to construct school or mak
Published 17 Jan, 2011 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (January 10 to 15, 2011)

Published 17 Jan, 2011 12:00am
The Weather

The Weather

The weather report on Sunday (January 16, 2011) and the forecast for Monday (January 17, 2011).

Published 17 Jan, 2011 12:00am
Prime Minister for grand economic reconciliation

Prime Minister for grand economic reconciliation

Prime Minister Syed Yousuf Raza Gilani has said that a grand economic reconciliation is required for the collective good of the country. "All the political forces would be taken along on all economic issues, like the reformed general sales tax (RGST) and
Published 17 Jan, 2011 12:00am
Prime Minister for grand economic reconciliation

Prime Minister for grand economic reconciliation

Prime Minister Syed Yousuf Raza Gilani has said that a grand economic reconciliation is required for the collective good of the country. "All the political forces would be taken along on all economic issues, like the reformed general sales tax (RGST) and
Published 17 Jan, 2011 12:00am
Prime Minister for grand economic reconciliation

Prime Minister for grand economic reconciliation

Prime Minister Syed Yousuf Raza Gilani has said that a grand economic reconciliation is required for the collective good of the country. "All the political forces would be taken along on all economic issues, like the reformed general sales tax (RGST) and
Published 17 Jan, 2011 12:00am
THE RUPEE: sharp fall against euro

THE RUPEE: sharp fall against euro

The rupee depicted mixed pattern against dollar, while it lost steeply versus euro during the week ended on January 15, 2011. On the inter-bank, the rupee rose by 26 paisa in relation to dollar for buying at 85.48 while it also dropped 23 paisa for sellin
Published 17 Jan, 2011 12:00am
THE RUPEE: sharp fall against euro

THE RUPEE: sharp fall against euro

The rupee depicted mixed pattern against dollar, while it lost steeply versus euro during the week ended on January 15, 2011. On the inter-bank, the rupee rose by 26 paisa in relation to dollar for buying at 85.48 while it also dropped 23 paisa for sellin
Published 17 Jan, 2011 12:00am
Domestic debt crosses Rs five trillion mark

Domestic debt crosses Rs five trillion mark

The country's total stocks of domestic debt and liabilities crossed Rs 5 trillion mark for the first time due to significant rise in fiscal deficit and slow foreign inflows.
Published 17 Jan, 2011 12:00am
Domestic debt crosses Rs five trillion mark

Domestic debt crosses Rs five trillion mark

The country's total stocks of domestic debt and liabilities crossed Rs 5 trillion mark for the first time due to significant rise in fiscal deficit and slow foreign inflows.
Published 17 Jan, 2011 12:00am
Domestic debt crosses Rs five trillion mark

Domestic debt crosses Rs five trillion mark

The country''s total stocks of domestic debt and liabilities crossed Rs 5 trillion mark for the first time due to significant rise in fiscal deficit and slow foreign inflows.
Published 17 Jan, 2011 12:00am
3.5 percent WHT levy: Ginners decide to stop buying phutti

3.5 percent WHT levy: Ginners decide to stop buying phutti

The Pakistan Cotton Ginners Association (PCGA) has unanimously decided to stop buying phutti (seed-cotton) from Monday, January 17, 2011 as a protest against levy of 3.5 percent withholding tax on the purchase of raw material from middlemen.
Published 17 Jan, 2011 12:00am
3.5 percent WHT levy: Ginners decide to stop buying phutti

3.5 percent WHT levy: Ginners decide to stop buying phutti

The Pakistan Cotton Ginners Association (PCGA) has unanimously decided to stop buying phutti (seed-cotton) from Monday, January 17, 2011 as a protest against levy of 3.5 percent withholding tax on the purchase of raw material from middlemen.
Published 17 Jan, 2011 12:00am
3.5 percent WHT levy: Ginners decide to stop buying phutti

3.5 percent WHT levy: Ginners decide to stop buying phutti

The Pakistan Cotton Ginners Association (PCGA) has unanimously decided to stop buying phutti (seed-cotton) from Monday, January 17, 2011 as a protest against levy of 3.5 percent withholding tax on the purchase of raw material from middlemen.
Published 17 Jan, 2011 12:00am
Country in a state of financial emergency: FBR chief

Country in a state of financial emergency: FBR chief

Federal Board of Revenue (FBR) Chairman Salman Siddique has said that the government is facing serious financial crises and it is not in a position to give any industrial relief package. Speaking at a meeting of Karachi Chamber of Commerce and Industry (K
Published 17 Jan, 2011 12:00am
Country in a state of financial emergency: FBR chief

Country in a state of financial emergency: FBR chief

Federal Board of Revenue (FBR) Chairman Salman Siddique has said that the government is facing serious financial crises and it is not in a position to give any industrial relief package. Speaking at a meeting of Karachi Chamber of Commerce and Industry (K
Published 17 Jan, 2011 12:00am
Country in a state of financial emergency: FBR chief

Country in a state of financial emergency: FBR chief

Federal Board of Revenue (FBR) Chairman Salman Siddique has said that the government is facing serious financial crises and it is not in a position to give any industrial relief package. Speaking at a meeting of Karachi Chamber of Commerce and Industry (K
Published 17 Jan, 2011 12:00am
Share market turns bullish

Share market turns bullish

Bullish trend was observed at the share market during the week ended on January 15, 2011, and KSE-100 index surged by 144.50 points to close at 12,533.54 points. Trading also improved and the average daily volume at ready counter increased by 19.8 percent
Published 17 Jan, 2011 12:00am
Share market turns bullish

Share market turns bullish

Bullish trend was observed at the share market during the week ended on January 15, 2011, and KSE-100 index surged by 144.50 points to close at 12,533.54 points. Trading also improved and the average daily volume at ready counter increased by 19.8 percent
Published 17 Jan, 2011 12:00am
Share market turns bullish

Share market turns bullish

Bullish trend was observed at the share market during the week ended on January 15, 2011, and KSE-100 index surged by 144.50 points to close at 12,533.54 points. Trading also improved and the average daily volume at ready counter increased by 19.8 percent
Published 17 Jan, 2011 12:00am
18 percent rise in futures open interest

18 percent rise in futures open interest

Total open interest at the futures counter increased by 18 percent, to Rs 1.63 billion, during the week ended on January 15, 2011. The futures spreads also increased by 586bps to 8.75 percent. Trading at futures counter improved and average daily volume i
Published 17 Jan, 2011 12:00am
18 percent rise in futures open interest

18 percent rise in futures open interest

Total open interest at the futures counter increased by 18 percent, to Rs 1.63 billion, during the week ended on January 15, 2011. The futures spreads also increased by 586bps to 8.75 percent. Trading at futures counter improved and average daily volume i
Published 17 Jan, 2011 12:00am
18 percent rise in futures open interest

18 percent rise in futures open interest

Total open interest at the futures counter increased by 18 percent, to Rs 1.63 billion, during the week ended on January 15, 2011. The futures spreads also increased by 586bps to 8.75 percent. Trading at futures counter improved and average daily volume i
Published 17 Jan, 2011 12:00am
18 percent rise in futures open interest

18 percent rise in futures open interest

Total open interest at the futures counter increased by 18 percent, to Rs 1.63 billion, during the week ended on January 15, 2011. The futures spreads also increased by 586bps to 8.75 percent. Trading at futures counter improved and average daily volume i
Published 17 Jan, 2011 12:00am
Qamar to act as NBP President

Qamar to act as NBP President

The Ministry of Finance has announced the appointment of Qamar Hussain, Chief Operating Officer, NBP, as President, National Bank of Pakistan, on 'acting charge basis', with immediate effect, through a notification issued on Sunday. Qamar Hussain, prior t
Published 17 Jan, 2011 12:00am
Qamar to act as NBP President

Qamar to act as NBP President

The Ministry of Finance has announced the appointment of Qamar Hussain, Chief Operating Officer, NBP, as President, National Bank of Pakistan, on 'acting charge basis', with immediate effect, through a notification issued on Sunday. Qamar Hussain, prior t
Published 17 Jan, 2011 12:00am
Qamar to act as NBP President

Qamar to act as NBP President

The Ministry of Finance has announced the appointment of Qamar Hussain, Chief Operating Officer, NBP, as President, National Bank of Pakistan, on ''acting charge basis'', with immediate effect, through a notification issued on Sunday. Qamar Hussain, prior
Published 17 Jan, 2011 12:00am
Private schools: Regulatory Authority being set up for controlling fees

Private schools: Regulatory Authority being set up for controlling fees

Provincial Minister for Education Mian Mujtaba Shujaur Rehman has said that Regulatory Authority is being set up for controlling the fees of private schools for which legislation will soon be made. He was addressing the inaugural function of Victory Schoo
Published 17 Jan, 2011 12:00am
Pillion riding again banned in Karachi

Pillion riding again banned in Karachi

Complete ban has been imposed on pillion riding in Karachi from midnight Sunday for seven days, according to the notification issued by Sindh Home Department, Aaj News reported. Sindh Home Minister Zulfiqar Mirza said the ban on pillion riding has been im
Published 17 Jan, 2011 12:00am
Faisalabad city: total financial budget is Rs 1,5061 million: DCO

Faisalabad city: total financial budget is Rs 1,5061 million: DCO

District Co-ordination Officer, Faisalabad Naseem Sadiq has said that the total current financial budget of city district government is rupees 1,5061 million under which process of public service and development has continued. Funds of Rs.1.32 billion are
Published 17 Jan, 2011 12:00am
Musharraf says blasphemy law cannot be changed

Musharraf says blasphemy law cannot be changed

Former president Pervez Musharraf said on Sunday that Pakistan's blasphemy laws could not be changed, but that the man who killed the governor of Punjab province over his opposition to them must be punished. Musharraf described the MQM as "a good party" w
Published 17 Jan, 2011 12:00am
'994,648 patients treated in LGH in 2010'

'994,648 patients treated in LGH in 2010'

In order to provide better health facilities to every person the administration of Lahore General Hospital LGH) has converted it into patients' lover hospital.
Published 17 Jan, 2011 12:00am
Semi-curfew in some areas to check targeted killings: Malik

Semi-curfew in some areas to check targeted killings: Malik

'Semi-curfew' will be imposed in some areas of Karachi to check the growing menace of targeted killings, said Interior Minister Rehman Malik. Talking to the media persons before leaving for Islamabad at Quaid-e-Azam International Terminal here Sunday, he
Published 17 Jan, 2011 12:00am
Semi-curfew in some areas to check targeted killings: Malik

Semi-curfew in some areas to check targeted killings: Malik

'Semi-curfew' will be imposed in some areas of Karachi to check the growing menace of targeted killings, said Interior Minister Rehman Malik. Talking to the media persons before leaving for Islamabad at Quaid-e-Azam International Terminal here Sunday, he
Published 17 Jan, 2011 12:00am
Entering LPG, LNG import business: OGDC rejects PC's proposal

Entering LPG, LNG import business: OGDC rejects PC's proposal

The Oil and Gas Development Company (OGDC) has outrightly rejected a Privatisation Commission's proposal of entering into import business of liquefied petroleum gas (LPG) and liquefied natural gas (LNG), saying that these two businesses, as an exploration
Published 17 Jan, 2011 12:00am
Entering LPG, LNG import business: OGDC rejects PC's proposal

Entering LPG, LNG import business: OGDC rejects PC's proposal

The Oil and Gas Development Company (OGDC) has outrightly rejected a Privatisation Commission's proposal of entering into import business of liquefied petroleum gas (LPG) and liquefied natural gas (LNG), saying that these two businesses, as an exploration
Published 17 Jan, 2011 12:00am
Entering LPG, LNG import business: OGDC rejects PC''s proposal

Entering LPG, LNG import business: OGDC rejects PC''s proposal

The Oil and Gas Development Company (OGDC) has outrightly rejected a Privatisation Commission''s proposal of entering into import business of liquefied petroleum gas (LPG) and liquefied natural gas (LNG), saying that these two businesses, as an exploratio
Published 17 Jan, 2011 12:00am
PAF and RSAF conducting joint exercise

PAF and RSAF conducting joint exercise

Pakistan Airforce (PAF) and Royal Saudi Air Force (RSAF) are conducting a joint air power employment exercise code name "Al Saqoor-II" in Saudi Arabia. The joint exercise commenced on January 6 and would be completed by 19th.
Published 17 Jan, 2011 12:00am
PAF and RSAF conducting joint exercise

PAF and RSAF conducting joint exercise

Pakistan Airforce (PAF) and Royal Saudi Air Force (RSAF) are conducting a joint air power employment exercise code name "Al Saqoor-II" in Saudi Arabia. The joint exercise commenced on January 6 and would be completed by 19th.
Published 17 Jan, 2011 12:00am
Economic situation: Prime Minister to call special cabinet meeting

Economic situation: Prime Minister to call special cabinet meeting

Prime Minister Syed Yousuf Raza Gilani has decided to convene a special cabinet meeting to discuss the country's deteriorating economic situation, which will be attended by the parliamentary leaders of all political parties, well-informed sources told
Published 17 Jan, 2011 12:00am
Economic situation: Prime Minister to call special cabinet meeting

Economic situation: Prime Minister to call special cabinet meeting

Prime Minister Syed Yousuf Raza Gilani has decided to convene a special cabinet meeting to discuss the country's deteriorating economic situation, which will be attended by the parliamentary leaders of all political parties, well-informed sources told
Published 17 Jan, 2011 12:00am
Economic situation: Prime Minister to call special cabinet meeting

Economic situation: Prime Minister to call special cabinet meeting

Prime Minister Syed Yousuf Raza Gilani has decided to convene a special cabinet meeting to discuss the country''s deteriorating economic situation, which will be attended by the parliamentary leaders of all political parties, well-informed sources told <i
Published 17 Jan, 2011 12:00am
Five-year old used cars import: ECC considering reopening

Five-year old used cars import: ECC considering reopening

The Economic Co-ordination Committee (ECC) of the Cabinet is reportedly considering to reopen on Tuesday import of five-year-old used cars, which may raise serious concerns in Japan, sources told Business Recorder. Analysts point out that the Japan
Published 17 Jan, 2011 12:00am
Five-year old used cars import: ECC considering reopening

Five-year old used cars import: ECC considering reopening

The Economic Co-ordination Committee (ECC) of the Cabinet is reportedly considering to reopen on Tuesday import of five-year-old used cars, which may raise serious concerns in Japan, sources told Business Recorder. Analysts point out that the Japan
Published 17 Jan, 2011 12:00am
Five-year old used cars import: ECC considering reopening

Five-year old used cars import: ECC considering reopening

The Economic Co-ordination Committee (ECC) of the Cabinet is reportedly considering to reopen on Tuesday import of five-year-old used cars, which may raise serious concerns in Japan, sources told Business Recorder. Analysts point out that the Japan
Published 17 Jan, 2011 12:00am
Zardari to address Abu Dhabi energy summit today

Zardari to address Abu Dhabi energy summit today

President, Asif Ali Zardari will address World Future Energy Summit on Monday. He will be among the key speakers that will highlight future challenges and propose strategies in the energy sector at the event.
Published 17 Jan, 2011 12:00am
Two die from suffocation

Two die from suffocation

Two persons died due to suffocation, here on Sunday, after gas from a heater filled their room, police said. The incident occurred in Hawalian area when two persons namely Muhammad Ashiq and Imtiaz Khattak, turned on gas heater to warm up the room before
Published 17 Jan, 2011 12:00am
Chief minister to inaugurate Medical College at Sialkot today

Chief minister to inaugurate Medical College at Sialkot today

Punjab Chief Minister Muhammad Shahbaz Sharif will expectedly inaugurate the newly established Kh. Muhammad Safdar Medical College Sialkot in Sialkot on January 17 (today) during a special ceremony scheduled to be held at the surroundings of Govt. Allama
Published 17 Jan, 2011 12:00am
FBR clarification sought on applicability of WWF

FBR clarification sought on applicability of WWF

The reformed tax units, including Large Taxpayer Units, are unclear about the criteria to be used for imposition of the Workers Welfare Fund (WWF) on the filers of income tax returns/statements.
Published 17 Jan, 2011 12:00am
Drive against measles launched

Drive against measles launched

Executive District Officer, Zafar-ul-Islam on Sunday said about 643,000 children under six years of age would be given anti-measles vaccine during a five-day national immunisation campaign in the district.
Published 17 Jan, 2011 12:00am
ANP names four-member committee

ANP names four-member committee

On request of Prime Minister Syed Yousuf Raza Gilani, Awami National Party (ANP) on Sunday constituted a four-member committee to hold consultations with other parties on key national issues. According to a private television channel, the committee will d
Published 17 Jan, 2011 12:00am
Thermo laminated soccer balls to be produced in Sialkot

Thermo laminated soccer balls to be produced in Sialkot

The development work on mega project of Sports Industries Development Centre (SIDC) and Sialkot business and commerce centre has been further accelerated and the project would be accomplished at a cost of more than Rs 435.64 million.
Published 17 Jan, 2011 12:00am
'We're facing round-the-clock surveillance'

'We're facing round-the-clock surveillance'

The father of Governor Punjab Salmaan Taseer's assassin has said although he has not been tortured by police personnel, law enforcement and intelligence have been asking him about his son's political links. Police and other law enforcement agencies are ha
Published 17 Jan, 2011 12:00am
Swine Flu patients advised to exercise extra care

Swine Flu patients advised to exercise extra care

Dr. Ijaz Ahmad Sheikh, Medical Superintendent, Sir Ganga Ram Hospital has said that Swine Flu is a disease which could spread to other people, therefore the patients carrying it should be extra careful while meeting healthy people.
Published 17 Jan, 2011 12:00am
Upper regions in grip of severe cold after rains and snowfall

Upper regions in grip of severe cold after rains and snowfall

Upper regions of the country, including upper Khyber Pakhtunkhwa, Gilgit Baltistan and Kashmir and hilly areas of Balochistan and Punjab are grip of severe cold after two days of rain with snowfall over the hills Shallow/moderate foggy conditions prevaile
Published 17 Jan, 2011 12:00am
South Punjab province vital for people's rights: Jatoi

South Punjab province vital for people's rights: Jatoi

Former Federal Minister Qayyum Jatoi Sunday said South Punjab, as a separate province was vital to ensure rights to people of the region. Talking to the media after meeting PPP leader Rana Amjad, he said that all development budget was spent in upper Punj
Published 17 Jan, 2011 12:00am
Business community felicitated on record exports

Business community felicitated on record exports

Federal Minister for Commerce, Makhdoom M. Amin Fahim has expressed his gratitude on the enhancement of Pakistan's export up to 22 percent in December last, which is a record. Amin Fahim congratulated business community of the country on this achievement,
Published 17 Jan, 2011 12:00am
Women Entrepreneurs Furniture exhibition 2011 concludes

Women Entrepreneurs Furniture exhibition 2011 concludes

Women Entrepre-neurs Furniture (Marble Mosaic) Exhibition 2011 concluded at a local hotel on Sunday. A Large number of visitors showed keen interest in marble mosaic based products. Prime Minister's wife, Ms Fouzia Gilani was the chief guest at the closin
Published 17 Jan, 2011 12:00am
Call for relief package for textile sector

Call for relief package for textile sector

Only a comprehensive relief package from government can steer country's textile sector out of the crisis presently facing it. Any complacency in this regard may hit this vital segment of the economy drastically, said leading textile miller, Mian Fraz Alam
Published 17 Jan, 2011 12:00am
Homage paid to Minhaj Barna

Homage paid to Minhaj Barna

Multan Union of Journalists (MUJ) organised a reference to pay homage to great leader and founder of PFUJ Minhaj Barna here on Sunday.
Published 17 Jan, 2011 12:00am
SNGPL suspends gas supply to over 600 industrial units

SNGPL suspends gas supply to over 600 industrial units

Sui Northern Gas Pipelines Company Limited (SNGPL) has suspended supply of gas to more than 600 industrial units most of them textile processing, printing, dyeing, sizing and chemical manufacturing factories, here Sunday morning, for next four days.
Published 17 Jan, 2011 12:00am
Kalabagh Dam is the only solution to energy crisis

Kalabagh Dam is the only solution to energy crisis

Engineer Mumtaz Ahmed Khan, former director of Kalabagh dam project and Convenor of KBD construction movement has said that there is only one solution to Pakistan's energy crisis and that is construction of a big reservoir (Kalabagh Dam). The construction
Published 17 Jan, 2011 12:00am
Egypt warns West to stay out of Arab affairs

Egypt warns West to stay out of Arab affairs

Egypt's Foreign Minister Ahmed Abul Gheit warned Sunday the West to stay out of Arab affairs, days after US Secretary of State Hillary Clinton urged Arab leaders to work with their peoples to bring reforms.
Published 17 Jan, 2011 12:00am
Al Qaeda's Awlaqi renews call to kill Americans

Al Qaeda's Awlaqi renews call to kill Americans

US-Yemeni radical cleric Anwar al-Awlaqi has renewed a call to strike the American government and citizens, the SITE monitoring agency said on Sunday. "Both the (US) government and private citizens should be targeted," he wrote in the latest edition of In
Published 17 Jan, 2011 12:00am
US drones shot down outside Iran airspace

US drones shot down outside Iran airspace

Iran shot down two US navy drones outside its airspace in the Gulf, ILNA news agency quoting a top military commander as saying on Sunday. The head of Guards' air force, Amir Ali Hajizadeh, said on January 2 that his forces had shot down two drones after
Published 17 Jan, 2011 12:00am
Saudi women want to run in municipal elections

Saudi women want to run in municipal elections

A group of Saudi activists have launched a campaign to push the oil-rich kingdom to allow women to run in upcoming municipal election, scheduled this spring. Organisers say the campaign, named My Country, started Sunday with letters sent to local governme
Published 17 Jan, 2011 12:00am
Asean to push Myanmar on democracy, wants sanctions lifted

Asean to push Myanmar on democracy, wants sanctions lifted

The Association of Southeast Asian Nations (Asean) wants the US and Europe to lift sanctions against member Myanmar after its recent elections and release of pro-democracy leader Aung San Suu Kyi, it said on Sunday.
Published 17 Jan, 2011 12:00am
South Sudan's Kiir prays to forgive north for war

South Sudan's Kiir prays to forgive north for war

South Sudan's president urged his people to forgive the Muslim north for a devastating 1983-2005 war, as partial results trickling in on Sunday from a landmark vote showed a landslide for secession.
Published 17 Jan, 2011 12:00am
Hu calls currency system 'product of the past'

Hu calls currency system 'product of the past'

China's President Hu Jintao said Sunday the international currency system was "a product of the past," but it would be a long time before the yuan is accepted as an international currency.
Published 17 Jan, 2011 12:00am
New Afghan parliament to open on January 23

New Afghan parliament to open on January 23

Afghan President Hamid Karzai plans to open his war-battered nation's parliament on January 23, one of his ministers said Sunday, after months of uncertainty due to disputes over election results.
Published 17 Jan, 2011 12:00am
Syria gets first US ambassador since 2005 fallout

Syria gets first US ambassador since 2005 fallout

Robert Ford, the first US ambassador to Syria since 2005, arrived Sunday in Damascus where he will have a challenging task to re-engage the two countries which disagree on a raft of issues. "The US ambassador arrived in Damascus," a US embassy source told
Published 17 Jan, 2011 12:00am
Israel eyes huge east Jerusalem settlement project

Israel eyes huge east Jerusalem settlement project

Israel is to approve 1,400 new settler homes in east Jerusalem, media and the local council said on Sunday, defying pressure to halt settlement building that has stalled peace talks with the Palestinians. The massive construction project will add homes to
Published 17 Jan, 2011 12:00am
Tunisia forces battle with gunmen, parties seek government

Tunisia forces battle with gunmen, parties seek government

Tunisian security forces fought gun battles with armed men in the capital on Sunday, as politicians tried to form a unity government two days after the president was ousted after more than 23 years in power.
Published 17 Jan, 2011 12:00am
Iran says firm on nuclear rights as tour ends

Iran says firm on nuclear rights as tour ends

Iran's nuclear negotiator said on Sunday that Tehran will steadfastly pursue its atomic rights as he prepared for a face-off with world powers in Istanbul over the Islamic republic's nuclear drive. Saeed Jalili's hard-line reiteration of Iran's nuclear po
Published 17 Jan, 2011 12:00am
Arab web users say Tunisia shows time up for leaders

Arab web users say Tunisia shows time up for leaders

Emboldened democracy activists and bloggers in the Arab world used the internet to celebrate the downfall of Tunisia's authoritarian president and warn other leaders they face a similar fate.
Published 17 Jan, 2011 12:00am
Algerian dies in self-immolation, echoing Tunisia

Algerian dies in self-immolation, echoing Tunisia

A man has died after setting himself on fire at a government building in Algeria, state radio reported on Sunday, echoing the self-immolation that triggered the protests that toppled the leader of neighbouring Tunisia.
Published 17 Jan, 2011 12:00am
Bomb kills nine wedding guests in Afghanistan

Bomb kills nine wedding guests in Afghanistan

A roadside bomb destroyed a car carrying nine people to a wedding in northern Afghanistan on Sunday, killing everyone inside including one child, the provincial governor said. The previous day, six civilians were killed by a roadside bomb in southern Helm
Published 17 Jan, 2011 12:00am
Afghanistan condemns Iran fuel blockade amid protests

Afghanistan condemns Iran fuel blockade amid protests

Afghan fuel protesters targeted an Iranian diplomatic mission for a second day on Sunday, as the commerce minister said Tehran had not given any reason for an export clampdown that is choking Afghan oil supplies.
Published 17 Jan, 2011 12:00am
China's support for euro a necessity, not a virtue

China's support for euro a necessity, not a virtue

A record surge in Chinese currency reserves serves as a timely reminder that its pledge to buy bonds from indebted European states makes a virtue out of a necessity. So much has been made of Chinese promises to buy Spanish and Greek debt that somewhere al
Published 17 Jan, 2011 12:00am
China securities regulator flexes muscle, eyes private equity role

China securities regulator flexes muscle, eyes private equity role

Private equity funds in China are nervously eyeing a push by the country's top securities regulator to gain oversight of the fast-growing sector, fearing increased scrutiny and tougher new rules. This could be bad news for foreign private equity firms suc
Published 17 Jan, 2011 12:00am
China securities regulator flexes muscle, eyes private equity role

China securities regulator flexes muscle, eyes private equity role

Private equity funds in China are nervously eyeing a push by the country's top securities regulator to gain oversight of the fast-growing sector, fearing increased scrutiny and tougher new rules. This could be bad news for foreign private equity firms suc
Published 17 Jan, 2011 12:00am
Global Markets Weekahead: reality checks ahead for investors

Global Markets Weekahead: reality checks ahead for investors

An improving global economy, solid corporate earnings and even easing fears about eurozone debt have been more than enough to rationalise the rising hunger for riskier assets now prevalent on financial markets. Investors, however, are about to get a reali
Published 17 Jan, 2011 12:00am
Asia private equity exits outstrip new deals

Asia private equity exits outstrip new deals

Asia's private equity industry has quickly turned into a sellers' market, as firms cash out of investments made on the back of the region's robust economic growth. And the trend is expected to continue as long as Asia's stock markets remain steady and ins
Published 17 Jan, 2011 12:00am
Asia private equity exits outstrip new deals

Asia private equity exits outstrip new deals

Asia's private equity industry has quickly turned into a sellers' market, as firms cash out of investments made on the back of the region's robust economic growth. And the trend is expected to continue as long as Asia's stock markets remain steady and ins
Published 17 Jan, 2011 12:00am
Indonesian carrier takes IPO show on the road

Indonesian carrier takes IPO show on the road

Its symbol is Garuda, the winged steed of Vishnu in Hindu mythology, but Garuda Indonesia's fortunes more closely resemble the Phoenix, which rose from the flames to fly again. This, at least, will be the story Indonesia's national carrier takes to potent
Published 17 Jan, 2011 12:00am
Japan stocks seen stable

Japan stocks seen stable

Japanese shares are likely to hold firm in the week ahead and may test a new eight-month high, with the market closely watching upcoming US corporate earnings, brokers said Friday. In the week to January 14, the benchmark Nikkei index at the Tokyo Stock E
Published 17 Jan, 2011 12:00am
Another Venezuela currency devaluation seen soon

Another Venezuela currency devaluation seen soon

Venezuela is likely to devalue its currency again soon after President Hugo Chavez scrapped a plan to increase the country's sales tax as analysts said the impact of a New Year devaluation had been limited. Wall Street experts had welcomed the socialist p
Published 17 Jan, 2011 12:00am
Wall Street Weekahead: Investors crave more strong bank results

Wall Street Weekahead: Investors crave more strong bank results

US bank stocks are flying high, and next week's earnings could give investors more reason to be optimistic about the sector. Strong results from JPMorgan Chase & Co on Friday bolstered expectations for top US banks, many of which are due to report next we
Published 17 Jan, 2011 12:00am
British traders await key inflation numbers

British traders await key inflation numbers

Inflation data due next Tuesday is the key British event for London stock market traders next week amid uncertainty about the outlook for consumer prices over the coming months. Next week also sees a number of trading updates from major British companies
Published 17 Jan, 2011 12:00am
US brokerages add cross-sell sweeteners for advisers

US brokerages add cross-sell sweeteners for advisers

US brokerage firms are increasing incentives for their financial advisers to sell more loans and banking products to their clients. Banking giants including Bank of America Corp and Wells Fargo & Co have touted the potential cross-selling gold mine that t
Published 17 Jan, 2011 12:00am
Swiss tax whistleblower to give Wikileaks new data

Swiss tax whistleblower to give Wikileaks new data

A former Swiss private banker who was one of the first whistleblowers to use WikiLeaks by publishing internal bank documents on the site has pledged to hand over new data on offshore bank account holders on Monday, a newspaper said.
Published 17 Jan, 2011 12:00am
Kazakhstan eyes second Islamic bank

Kazakhstan eyes second Islamic bank

Kazakhstan has no immediate plans to issue new licences to conventional foreign banks but may approve a second Islamic bank this year, the country's deputy prime minister said on Sunday. "The second Islamic bank could be opened this year," Aset Issekeshev
Published 17 Jan, 2011 12:00am
Iran says to be self-reliant in gasoline this year

Iran says to be self-reliant in gasoline this year

Iran will finally become self-sufficient in gasoline later this year, no longer reliant on imports or "emergency" fuel produced in petrochemical plants, its oil minister said on Sunday. Iran said in September it was no longer importing the automotive fuel
Published 17 Jan, 2011 12:00am
Iran joins Venezuela, Libya to say $100 oil no harm

Iran joins Venezuela, Libya to say $100 oil no harm

Opec's leading oil price hawk Iran joined Venezuela and Libya on Sunday to say it saw no need for the cartel to consider raising crude supplies to rein in crude prices now near $100 a barrel. Iranian Oil Minister Massoud Mirkazemi said some members of the
Published 17 Jan, 2011 12:00am
China's fiscal policy to stay proactive

China's fiscal policy to stay proactive

China will maintain a "proactive" fiscal policy in 2011 to build roads, subways and other infrastructure, Xinhua news agency reported on Sunday, citing the head of the Research Institute for Fiscal Science at the Ministry of Finance.
Published 17 Jan, 2011 12:00am
No need for SNB to intervene on franc: minister

No need for SNB to intervene on franc: minister

There is no reason now for the Swiss central bank to try to fight the strong franc, the Swiss finance minister was quoted as saying on Sunday, even as the government plans to discuss the impact of the currency on Wednesday.
Published 17 Jan, 2011 12:00am
Europe meets under pressure to boost crisis fund

Europe meets under pressure to boost crisis fund

Eurozone finance ministers head into a meeting Monday under pressure to ramp up the firepower of a debt rescue fund even after markets backed off pressure on vulnerable nations. Europeans are divided over how quickly they need to act and how much added mu
Published 17 Jan, 2011 12:00am
Europe meets under pressure to boost crisis fund

Europe meets under pressure to boost crisis fund

Eurozone finance ministers head into a meeting Monday under pressure to ramp up the firepower of a debt rescue fund even after markets backed off pressure on vulnerable nations. Europeans are divided over how quickly they need to act and how much added mu
Published 17 Jan, 2011 12:00am
Venezuela says oil reserves surpass Saudi Arabia

Venezuela says oil reserves surpass Saudi Arabia

Venezuela has overtaken Saudi Arabia as the world leader in oil reserves with certified deposits leaping to 297 billion barrels at the end of 2010, President Hugo Chavez's government said on Saturday. Energy Minister Rafael Ramirez told Reuters that the n
Published 17 Jan, 2011 12:00am
Lockheed Martin takes equity stake in UAE MRO unit

Lockheed Martin takes equity stake in UAE MRO unit

Lockheed Martin Corp will take an unspecified equity stake in an Abu Dhabi-based military aircraft maintenance, repair and overhaul centre that is partly-owned by Abu Dhabi investment vehicle Mubadala. Advanced Military Maintenance, Repair and Overhaul Ce
Published 17 Jan, 2011 12:00am
Lockheed Martin takes equity stake in UAE MRO unit

Lockheed Martin takes equity stake in UAE MRO unit

Lockheed Martin Corp will take an unspecified equity stake in an Abu Dhabi-based military aircraft maintenance, repair and overhaul centre that is partly-owned by Abu Dhabi investment vehicle Mubadala. Advanced Military Maintenance, Repair and Overhaul Ce
Published 17 Jan, 2011 12:00am
Porsche mulls factories in Asia, US

Porsche mulls factories in Asia, US

Iconic Porsche 911 sportscars could in the future be produced in factories in Asia or the United States, the German firm's chief executive said on Sunday. "This year, we are going to discuss whether to start assembly in Asia or North America," Matthias Mu
Published 17 Jan, 2011 12:00am
Shanghai eyes foreign firm listings, cross-border trade

Shanghai eyes foreign firm listings, cross-border trade

Shanghai hopes to encourage foreign companies to raise capital through stock and bond issuance in Shanghai this year, Mayor Han Zheng said on Sunday, while also confirming the city plans a trial property tax during 2011.
Published 17 Jan, 2011 12:00am
Watson seals Australia win with a six

Watson seals Australia win with a six

A superb solo effort by Shane Watson with the bat enabled Australia to overcome a sloppy fielding effort and beat England in the opening one-day international at the Melbourne Cricket Ground on Sunday.
Published 17 Jan, 2011 12:00am
Kuyt penalty saves Liverpool in Dalglish return

Kuyt penalty saves Liverpool in Dalglish return

Liverpool came from behind to share the spoils with Everton in the Merseyside derby on Sunday as Kenny Dalglish's emotional Anfield homecoming ended in a 2-2 draw. Dalglish appeared to be heading for his third consecutive defeat since taking over from Roy
Published 17 Jan, 2011 12:00am
Tendulkar out of ODIs

Tendulkar out of ODIs

India's Sachin Tendulkar has been ruled out of the last three one-day internationals against South Africa due to a hamstring injury, the Indian cricket board said on Sunday. Wicketkeeper Parthiv Patel, who has opened for India in ODIs in the past, will fl
Published 17 Jan, 2011 12:00am
Gazza to sue over British phone-hacking scandal

Gazza to sue over British phone-hacking scandal

Former England footballer Paul Gascoigne is planning to sue a top British newspaper alleging that he was a victim of a major phone-hacking scandal, a report said Saturday. The Observer newspaper said Gascoigne's lawyer, Gerald Shamash, had confirmed that
Published 17 Jan, 2011 12:00am
England international Lofthouse dies

England international Lofthouse dies

Former Bolton Wanderers and England striker Nat Lofthouse died in his sleep at the age of 85, the club announced on their website (www.bwfc.co.uk) on Sunday. Lofthouse spent his entire playing career at the northern England club where he amassed more than
Published 17 Jan, 2011 12:00am
Qatar unlikely to invest in European club

Qatar unlikely to invest in European club

The Qatari royal family is not looking to invest in a European football club despite rumours linking them with Manchester United and Paris Saint-Germain, a source close to the Qatar Investment Authority (QIA) told AFP on Sunday.
Published 17 Jan, 2011 12:00am
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