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Archive - 2011-01-24
Euro slides on profit-taking
Financial

Euro slides on profit-taking

TOKYO: The euro slipped against the dollar in Asian trade on Monday, as investors took profits following a steep rise th
Published 24 Jan, 2011 06:59am
KESC politics
BR Research

KESC politics

Not long ago the political parties were shouting over the multibillion-rupee bleeding of the PSEs, calling for restructuring and rationalisa
Published 24 Jan, 2011 12:00am
KSE: a top in the making
BR Research

KSE: a top in the making

After nine straight weeks of gains, the benchmark index KSE finally tapered off last week. Although, the decline was meagre - just 0.81 perc
Published 24 Jan, 2011 12:00am
Cotton chaos in the making?
BR Research

Cotton chaos in the making?

Cotton products, which were once considered one of the affordable items for the common men in one of the largest textile producing country,
Published 24 Jan, 2011 12:00am
Egypt's EFG seeks more acquisitions, eyes bonds

Egypt's EFG seeks more acquisitions, eyes bonds

Cash-rich EFG-Hermes, Egypt's biggest investment bank, said it was seeking more acquisitions after buying a 65 percent stake in Lebanon's Credit Libanais late last year. The Cairo-based bank, which has up to $6.2 billion in assets under management, said i
Published 24 Jan, 2011 12:00am
Egypt's EFG seeks more acquisitions, eyes bonds

Egypt's EFG seeks more acquisitions, eyes bonds

Cash-rich EFG-Hermes, Egypt's biggest investment bank, said it was seeking more acquisitions after buying a 65 percent stake in Lebanon's Credit Libanais late last year. The Cairo-based bank, which has up to $6.2 billion in assets under management, said i
Published 24 Jan, 2011 12:00am
Cartier, Montblanc ready for price hikes

Cartier, Montblanc ready for price hikes

Jewellers and watchmakers Cartier and Montblanc are preparing for further price increases in 2011 to reflect rising precious metals prices and currency fluctuations, the heads of the two groups said on January 18.
Published 24 Jan, 2011 12:00am
SocGen eyes opening of China's futures market

SocGen eyes opening of China's futures market

Societe Generale plans to offer over-the-counter commodity derivatives products in China this year as it looks to tap into growing demand from Chinese enterprises to manage price risks, a bank official said.
Published 24 Jan, 2011 12:00am
UBS plans China expansion

UBS plans China expansion

UBS plans to aggressively expand its China operations in the next 12 to 18 months as competition heats up in one of the world's fastest growing securities markets, a senior executive said.
Published 24 Jan, 2011 12:00am
Google targets spam-laden websites

Google targets spam-laden websites

Google on January 21 said it has made it harder for spam-packed websites to rank high in results at the world's top Internet search engine. While the amount of "webspam" in query results is less than half of what it was five years ago, the California-base
Published 24 Jan, 2011 12:00am
Twitter opens Korean language website

Twitter opens Korean language website

Microblogging site Twitter on January 19 opened a Korean-language website in an attempt to expand further into a market that has grown almost tenfold in the past year. Korean is now one of seven languages offered on Twitter.com.
Published 24 Jan, 2011 12:00am
Asia-Pacific computer sales rise 19 percent in 2010

Asia-Pacific computer sales rise 19 percent in 2010

Sales of personal computers in the Asia-Pacific area outside Japan rose 19 percent in 2010, in another sign of the region's robust economic growth, technology industry analyst IDC said on January 20. Computer sales reached 107 million units last year, wit
Published 24 Jan, 2011 12:00am
More than 200 million cellphones in Brazil

More than 200 million cellphones in Brazil

Brazil has over 200 million cellphones - more than one for each of its 193 million inhabitants - the National Telecommunications Agency said January 19. Thirty million of the 203 million cellphones now in use were connected over 2010, the agency said.
Published 24 Jan, 2011 12:00am
China's online population rises to 457 million in 2010

China's online population rises to 457 million in 2010

The number of Internet users in China, already the world's largest online market, hit 457 million in 2010 - up 19.1 percent from the previous year, a government-linked industry body said January 19.
Published 24 Jan, 2011 12:00am
World 'running out of Internet addresses'

World 'running out of Internet addresses'

The world will run out of Internet addresses "within weeks", according to one of the founding fathers of the web, a report said on January 21. Vint Cerf, who helped create the web by connecting computers using Internet Protocol (IP) addresses, said it was
Published 24 Jan, 2011 12:00am
Jawbone ERA a smart fit for mobile lifestyles

Jawbone ERA a smart fit for mobile lifestyles

Jawbone on January 20 introduced ERA headsets designed for people who want to get the best out of their smart gadgets as Internet lifestyles go increasingly mobile. The San Francisco company is infusing traditionally dumb wireless earpieces with brains in
Published 24 Jan, 2011 12:00am
China's Lenovo creates unit for tablets, mobiles

China's Lenovo creates unit for tablets, mobiles

Chinese computer giant Lenovo said on January 18 it will create a special unit to create mobile and other Internet-connected devices, as it seeks to grab a bigger slice of the fast-growing market. The new business will be based in Beijing and devoted to d
Published 24 Jan, 2011 12:00am
Google looks to its next decade

Google looks to its next decade

Google, which prides itself on helping people navigate the Internet, is facing a tangled Web as it weaves its own future. While more profitable than ever - with nearly 30 billion dollars in revenue last year - Google is under pressure from new rivals such
Published 24 Jan, 2011 12:00am
Facebook new frontier in parent-teen relationship

Facebook new frontier in parent-teen relationship

Roughly two thirds of American teenagers are comfortable enough with their parents to have them as Facebook friends, according to a new study published on January 18. But 16 percent of students said befriending their parents was a precondition for joining
Published 24 Jan, 2011 12:00am
Google software for the masses lands in Iran

Google software for the masses lands in Iran

Google late January 19 made mapping, photo-sharing, and Web browsing software available for the first time to people in Iran but blocked access by government computers there. Google worked with US officials on the nuances of making Earth, Picasa and Chrom
Published 24 Jan, 2011 12:00am
2010 matches record for world's hottest year: WMO

2010 matches record for world's hottest year: WMO

Last year tied for the hottest year on record, confirming a long-term warming trend, the World Meteorological Organisation (WMO) said on January 20. The first ten years of the millennium have proved to be the hottest decade since climate records began, it
Published 24 Jan, 2011 12:00am
Genes map study finds clues to pancreatic cancer

Genes map study finds clues to pancreatic cancer

Experts in the genetics of cancer said on January 20 they have found out why some people can live for years with the same kind of rare pancreatic cancer that affects Apple CEO Steve Jobs. They identified new genes that, when mutated in a certain way, appe
Published 24 Jan, 2011 12:00am
People with HIV have high stroke risk

People with HIV have high stroke risk

People infected with the AIDS virus may be three times more likely to suffer a stroke than people not infected, US researchers said on January 18. While stroke rates in the United States fell 7.2 percent in 2006 compared to 1997, rates have spiked among p
Published 24 Jan, 2011 12:00am
UN to ramp up climate change talks in 2011

UN to ramp up climate change talks in 2011

The United Nations is likely to hold two extra meetings to discuss climate change in 2011 as the deadline to meet targets of Kyoto Protocol fast approaches in end-2012, a top United Nations official said on Wednesday.
Published 24 Jan, 2011 12:00am
Record melt from Greenland icesheet in 2010: report

Record melt from Greenland icesheet in 2010: report

Greenland's icesheet, feared as a major driver of rising sea levels, shed a record amount of melted snow and ice in 2010, scientists reported on January 21, a day after the UN said last year was the warmest on record.
Published 24 Jan, 2011 12:00am
Antibiotics, BP drugs could be risky mix

Antibiotics, BP drugs could be risky mix

Older adults on blood pressure drugs known as calcium channel blockers could suffer dangerous drops in blood pressure if they are given certain antibiotics, according to a study.
Published 24 Jan, 2011 12:00am
Japanese researchers to test new cancer therapy

Japanese researchers to test new cancer therapy

Medical researchers in Japan say they will start the world's first clinical studies of a radiation therapy using accelerator-based neutron beams to kill cancer cells.
Published 24 Jan, 2011 12:00am
IGP Sindh directs foolproof security arrangements for Chehlum

IGP Sindh directs foolproof security arrangements for Chehlum

Inspector General of Sindh Police, Sultan Salahuddin Babar Khatak has directed the Capital City Police Officer (CCPO), Karachi and Regional Police Officers (RPOs), Hyderabad and Sukkur to make fool-proof security arrangements on Chehlum of Hazrat Imam Hus
Published 24 Jan, 2011 12:00am
'Sindh's rice sector lacks technology upgradation'

'Sindh's rice sector lacks technology upgradation'

Ikhtiar Ahmed Khoso, Regional Business Co-ordinator (SMEDA) Hyderabad said that rice is the second largest produced cereal in the world on which half of the world's population depends. World rice production in 2008 was 685.87 million tones. Asian farmers
Published 24 Jan, 2011 12:00am
Two killed in Dera Bugti landmine blast

Two killed in Dera Bugti landmine blast

At least two people were killed in a landmine blast in Loti area of Dera Bugti district on Sunday. According to Levies Force, the victims were identified as Samandar Bakhsh and Bhangar. The bodies of the victims had been handed over to the heirs after aut
Published 24 Jan, 2011 12:00am
Workshop on 'resumé writing and interview skills'

Workshop on 'resumé writing and interview skills'

The Convenor of Aligarh Institute of Technology, Engr Adil Usman, has advised the students to translate their vision into opportunities for new directions, skills, new jobs or work assignments.
Published 24 Jan, 2011 12:00am
Shujaat discusses law and order with Qaim

Shujaat discusses law and order with Qaim

A delegation of PML(Q) led by Chaudhry Shujaat held a meeting with Sindh Chief Minister Syed Qaim Ali Shah on Sunday at the CM House. According to a statement of CM House here, Chaudhry Shujaat discussed the political situation and particularly, the law a
Published 24 Jan, 2011 12:00am
KCR to be revived with Japanese aid: Sharmila

KCR to be revived with Japanese aid: Sharmila

Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that Rs 16 billion were being spent on various development projects in the province. She was speaking to a delegation of Urban Rural Development Organisation (URDO), according to a s
Published 24 Jan, 2011 12:00am
Abdullah Murad Bridge construction inaugurated

Abdullah Murad Bridge construction inaugurated

Sindh Minister for Works and Services, Manzoor Hussain Wassan on Sunday laid foundation stone of Shaheed Abdullah Murad Baloch Bridge being constructed at a cost of Rs85.451 million over Malir River between Memon Goth and Sheedi Goth in Gadap Town. The br
Published 24 Jan, 2011 12:00am
Commodities' rates remain in line with global price trend

Commodities' rates remain in line with global price trend

Dry fruits, moong, gram, grains dal, gur rose on the commodity markets during the week ended on January 22, 2011, with the rest items also taking line with world rates. On Monday, on the rice side Irri-6 Sindh rose by Rs25 to Rs3375 and Rs3400.
Published 24 Jan, 2011 12:00am
Two gunned down in Clifton

Two gunned down in Clifton

A man and a lady were shot dead by unidentified-armed men in Clifton area, here on Sunday. Two armed men barged into the house of Raffaqat, aged 22, and Bushra, 21, and shot them dead in Neelem Colony, Clifton before fleeing from the scene. The bodies wer
Published 24 Jan, 2011 12:00am
Japan can help enhance technical manpower: Puri

Japan can help enhance technical manpower: Puri

Japan is an important trading and economic partner of Pakistan. Pakistan attaches a great deal of importance to close business and economic ties with Japan. This was stated by Chief Executive Officer of the Trade Development Authority of Pakistan (TDAP),
Published 24 Jan, 2011 12:00am
Operation against encroachments in Landhi Cattle Colony

Operation against encroachments in Landhi Cattle Colony

District Co-ordination Officer (DCO) Karachi, Muhammad Hussain Syed, has directed to initiate an operation against encroachments in Landhi Cattle Colony. During a visit to the Bakra-piri and other parts of Cattle Colony where he met with the cattle owners
Published 24 Jan, 2011 12:00am
YSP proposes government to initiate students discount card

YSP proposes government to initiate students discount card

Youth Senate of Pakistan (YSP) has proposed the government to initiate national students discount card to solve students transportation problem. President, YSP Hanan Ali Abbasi told APP here on Sunday that the card will give a considerable discount on pub
Published 24 Jan, 2011 12:00am
Prime Minister takes notice of girl's killing by electric current

Prime Minister takes notice of girl's killing by electric current

Prime Minister Syed Yousuf Raza Gilani has taken serious notice of the sad incident of killing of a girl by electric current on the orders of Panchayat in Bahalwalpur. The Prime Minister directed the Inspector General of Police, Punjab to immediately subm
Published 24 Jan, 2011 12:00am
Movement over frozen Attabad lake banned

Movement over frozen Attabad lake banned

The district administration has imposed a ban on the movement of masses over the frozen lake in Gojal valley due to damming of Hunza river near Attabad. Two police posts have been established at both ends of the lake to stop people crossing the lake. Depu
Published 24 Jan, 2011 12:00am
'India cannot suppress Kashmiris' struggle by force'

'India cannot suppress Kashmiris' struggle by force'

Senior leader of the All Parties Hurriyet Conference, Shabbir Ahmed Shah has said that India will not be able to suppress Kashmiris' just struggle by resorting to brute force.
Published 24 Jan, 2011 12:00am
President hails reinstatement of sacked KESC employees

President hails reinstatement of sacked KESC employees

President Asif Ali Zardari on Sunday welcomed the reinstatement of over 4000 employees of the Karachi Electricity Supply Company (KESC). The President congratulated the Sindh provincial government, the federal and provincial committees, which were constit
Published 24 Jan, 2011 12:00am
Train service between Quetta, Jacobabad restored

Train service between Quetta, Jacobabad restored

The Pakistan Railways restored train service between Quetta and Jacobabad on Sunday after repairing of the damaged railway track. Unidentified men had blown up a small portion of the railway track between Dera Murad Jamali and Notal on Saturday night, whi
Published 24 Jan, 2011 12:00am
Khosa unleashes revolutionary austerity drive in Punjab

Khosa unleashes revolutionary austerity drive in Punjab

Senior Advisor to Punjab Chief Minister Sardar Zulfiqar Khan Khosa on Sunday unleashed revolutionary austerity measures in the province, which would save upto Rs 10 billion to the provincial exchequer.
Published 24 Jan, 2011 12:00am
Qadri for elimination of terrorism

Qadri for elimination of terrorism

Dr Tahir-ul-Qadri has said that terrorism, narrow-mindedness and extremism have badly affected the peace and economic stability of the country. He was addressing the concluding session of two-day Majlis-e-Shoora of Tehreek-Minhaj-ul-Quran here through rad
Published 24 Jan, 2011 12:00am
Difference of opinion is a beauty of democracy: Khursheed

Difference of opinion is a beauty of democracy: Khursheed

Minister for Labour and Manpower, Religious Affairs, Syed Khursheed Ahmed Shah on Sunday termed the difference of opinion among political parties a beauty of democracy. Talking to a private news channel, Khursheed Shah said that in a democratic set up, d
Published 24 Jan, 2011 12:00am
FWBL announces short courses

FWBL announces short courses

The First Women Bank Limited (FWBL) Business Development and Training Centre has announced short courses for women here on Sunday. An official of First Women Bank Limited while talking with APP said that bank offered courses in beautification (professiona
Published 24 Jan, 2011 12:00am
Railways: another white elephant

Railways: another white elephant

Pakistan Railways Headquarters has reportedly told its Divisional and District offices to stop all payments other than those essentially and critically required for day-to-day operations, plus salary and pensions, as the State Bank of Pakistan is not will
Published 24 Jan, 2011 12:00am
Ministry of Water and Power's inexplicable proposal

Ministry of Water and Power's inexplicable proposal

A Business Recorder exclusive revealed that the Ministry of Water and Power has proposed allowing power generation companies (Gencos) to directly import furnace oil. Such a proposal, if approved, would effectively imply that the standing of the Pak
Published 24 Jan, 2011 12:00am
Economic fallout of PPP politics

Economic fallout of PPP politics

The periodic recalcitrance of coalition partners in the Centre from the perspective of the ruling party leading invariably to the PPP capitulation to their demands coupled with the PML (N)'s periodically voiced angst at 'poor governance' at the centre poi
Published 24 Jan, 2011 12:00am
Sudanese in Egypt hope for independent south Sudan

Sudanese in Egypt hope for independent south Sudan

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DPA text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly o
Published 24 Jan, 2011 12:00am
Czech doctors threaten exodus over low pay

Czech doctors threaten exodus over low pay

Peter Papp, an oncologist at a northern Czech hospital, hitchhikes in the summer when he wants to travel to Prague to hang out with his friends. Papp, 31, is not a fan of the freewheeling mode of travel. He is saving money. Despite 11 years of medical sch
Published 24 Jan, 2011 12:00am
Terrorism: an ideological construct

Terrorism: an ideological construct

In the long war perspective, where the Taliban momentum increases despite the increased military operations, it can safely be concluded that victory cannot be defined on the basis of how many terrorists have been killed, but how many have undergone an ide
Published 24 Jan, 2011 12:00am
Lawyers' body to elect vice chairman today

Lawyers' body to elect vice chairman today

The newly elected 22-member executive body of the Pakistan Bar Council (PBC), the highest legal fraternity forum, on Monday (today) will elect its vice chairman. It is expected that the body will elect a member from the smaller province as its vice chairm
Published 24 Jan, 2011 12:00am
Call to introduce legislation against acid crime

Call to introduce legislation against acid crime

Speakers at a panel discussion stressed the need for introducing comprehensive legislation on 'acid crime' and its prevention, proposing severe punishment for perpetrators and rehabilitation of acid burn victims at the expense of the state.
Published 24 Jan, 2011 12:00am
IHC's three benches for next week

IHC's three benches for next week

Chief Justice of Islamabad High Court (IHC) Iqbal Hameed-ur-Rehman has constituted three benches including a Divisional bench to hear a number of cases from next week starting from January 24. The first bench comprises the Chief Justice Iqbal Hameed-ur-Re
Published 24 Jan, 2011 12:00am
Zardari condoles death of Amna's mother

Zardari condoles death of Amna's mother

President Asif Ali Zardari on Sunday expressed his deep sorrow and grief over the death of mother of Amna Buttar, PPP MPA from Punjab and Javed Buttar, former Judge of the Supreme Court of Pakistan. The President in a message to the family prayed to Almig
Published 24 Jan, 2011 12:00am
Zardari condoles death of Rehman Malik's father-in-law

Zardari condoles death of Rehman Malik's father-in-law

President Asif Ali Zardari on Sunday offered deep condolences over the sad demise of father-in-law of Interior Minister Rehman Malik. The father-in-law of Rehman Malik passed away in London.
Published 24 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 17 - 22 2011)

Published 24 Jan, 2011 12:00am
The Weather

The Weather

The weather report on Sunday (January 23, 2011) and the forecast for Monday (January 24, 2011).

Published 24 Jan, 2011 12:00am
33 burnt to death as bus rams into oil tanker

33 burnt to death as bus rams into oil tanker

At least 33 passengers, including women and children were burnt to death when the bus carrying them hit an oil tanker and caught fire in the early hours on Sunday morning near Nooriabad, 80-km from here on Super Highway. According to the police, the ill-f
Published 24 Jan, 2011 12:00am
33 burnt to death as bus rams into oil tanker

33 burnt to death as bus rams into oil tanker

At least 33 passengers, including women and children were burnt to death when the bus carrying them hit an oil tanker and caught fire in the early hours on Sunday morning near Nooriabad, 80-km from here on Super Highway. According to the police, the ill-f
Published 24 Jan, 2011 12:00am
THE RUPEE: all-round decline

THE RUPEE: all-round decline

The money market turned volatile during the week ended on January 22, 2011 as a result of higher demand of dollars by importers to clear the bills. On the inter-bank market, the rupee drifted lower against dollar, losing 41 paisa for buying at 85.89 and 3
Published 24 Jan, 2011 12:00am
THE RUPEE: all-round decline

THE RUPEE: all-round decline

The money market turned volatile during the week ended on January 22, 2011 as a result of higher demand of dollars by importers to clear the bills. On the inter-bank market, the rupee drifted lower against dollar, losing 41 paisa for buying at 85.89 and 3
Published 24 Jan, 2011 12:00am
Colonel Imam executed in North Waziristan

Colonel Imam executed in North Waziristan

A Pakistani insurgent group has executed a former senior officer of country's top intelligence organisation who once trained Afghan Taliban leader Mullah Omar, intelligence and rebel sources said Sunday.
Published 24 Jan, 2011 12:00am
Colonel Imam executed in North Waziristan

Colonel Imam executed in North Waziristan

A Pakistani insurgent group has executed a former senior officer of country's top intelligence organisation who once trained Afghan Taliban leader Mullah Omar, intelligence and rebel sources said Sunday.
Published 24 Jan, 2011 12:00am
Three US drone strikes kill 13

Three US drone strikes kill 13

A series of unmanned US drone strikes in a lawless district of Pakistan on Sunday killed at least 13 militants, officials said, as tribesmen took to the streets to protest the aerial campaign. The first two attacks took place in Datta Khel, some 40 kilome
Published 24 Jan, 2011 12:00am
Three US drone strikes kill 13

Three US drone strikes kill 13

A series of unmanned US drone strikes in a lawless district of Pakistan on Sunday killed at least 13 militants, officials said, as tribesmen took to the streets to protest the aerial campaign. The first two attacks took place in Datta Khel, some 40 kilome
Published 24 Jan, 2011 12:00am
Sacked KESC employees reinstated

Sacked KESC employees reinstated

Federal Minister for Water and Power, Raja Pervaiz Ashraf has said the management of Karachi Electric Supply Company (KESC), has withdrawn its order of sacking 4500 employees. The Federal Minister was addressing a press conference at Governor's House here
Published 24 Jan, 2011 12:00am
Sacked KESC employees reinstated

Sacked KESC employees reinstated

Federal Minister for Water and Power, Raja Pervaiz Ashraf has said the management of Karachi Electric Supply Company (KESC), has withdrawn its order of sacking 4500 employees. The Federal Minister was addressing a press conference at Governor's House here
Published 24 Jan, 2011 12:00am
Sacked KESC employees reinstated

Sacked KESC employees reinstated

Federal Minister for Water and Power, Raja Pervaiz Ashraf has said the management of Karachi Electric Supply Company (KESC), has withdrawn its order of sacking 4500 employees. The Federal Minister was addressing a press conference at Governor''s House her
Published 24 Jan, 2011 12:00am
EDB demands cut in WHT on engineering industry exports

EDB demands cut in WHT on engineering industry exports

The Engineering Development Board (EDB) has strongly proposed to the Federal Board of Revenue (FBR) to amend the Income Tax Ordinance, 2001 to reduce the rate of withholding tax from one percent to 0.5 percent on exports of the engineering industry.
Published 24 Jan, 2011 12:00am
EDB demands cut in WHT on engineering industry exports

EDB demands cut in WHT on engineering industry exports

The Engineering Development Board (EDB) has strongly proposed to the Federal Board of Revenue (FBR) to amend the Income Tax Ordinance, 2001 to reduce the rate of withholding tax from one percent to 0.5 percent on exports of the engineering industry.
Published 24 Jan, 2011 12:00am
EDB demands cut in WHT on engineering industry exports

EDB demands cut in WHT on engineering industry exports

The Engineering Development Board (EDB) has strongly proposed to the Federal Board of Revenue (FBR) to amend the Income Tax Ordinance, 2001 to reduce the rate of withholding tax from one percent to 0.5 percent on exports of the engineering industry.
Published 24 Jan, 2011 12:00am
Government to release Rs 20 billion EDF for boosting exports

Government to release Rs 20 billion EDF for boosting exports

The Federal government has announced to release Rs 20 billion of Export Development Fund to help the exporters explore new markets for Pakistan's non-traditional items. A formal announcement to this effect was made by Finance Minister Dr Abdul Hafeez Shai
Published 24 Jan, 2011 12:00am
Government to release Rs 20 billion EDF for boosting exports

Government to release Rs 20 billion EDF for boosting exports

The Federal government has announced to release Rs 20 billion of Export Development Fund to help the exporters explore new markets for Pakistan's non-traditional items. A formal announcement to this effect was made by Finance Minister Dr Abdul Hafeez Shai
Published 24 Jan, 2011 12:00am
Government to release Rs 20 billion EDF for boosting exports

Government to release Rs 20 billion EDF for boosting exports

The Federal government has announced to release Rs 20 billion of Export Development Fund to help the exporters explore new markets for Pakistan''s non-traditional items. A formal announcement to this effect was made by Finance Minister Dr Abdul Hafeez Sha
Published 24 Jan, 2011 12:00am
Cabinet size to be cut under 18th Amendment, says Gilani

Cabinet size to be cut under 18th Amendment, says Gilani

Prime Minister Yousuf Raza Gilani while talking to media persons here on Sunday said that final decision has been taken to make changes and cut the size of Federal Cabinet under 18th Amendment, after consultation with party members and coalition parties.
Published 24 Jan, 2011 12:00am
Cabinet size to be cut under 18th Amendment, says Gilani

Cabinet size to be cut under 18th Amendment, says Gilani

Prime Minister Yousuf Raza Gilani while talking to media persons here on Sunday said that final decision has been taken to make changes and cut the size of Federal Cabinet under 18th Amendment, after consultation with party members and coalition parties.
Published 24 Jan, 2011 12:00am
Index sheds 101 points

Index sheds 101 points

Investors during the week ending on January 22, 2011 opted for profit taking and the KSE-100 index lost 101 points to close at 12,432 points. Trading, however, improved and the average daily volume at ready counter increased by 25 percent to 234 million s
Published 24 Jan, 2011 12:00am
Index sheds 101 points

Index sheds 101 points

Investors during the week ending on January 22, 2011 opted for profit taking and the KSE-100 index lost 101 points to close at 12,432 points. Trading, however, improved and the average daily volume at ready counter increased by 25 percent to 234 million s
Published 24 Jan, 2011 12:00am
Index sheds 101 points

Index sheds 101 points

Investors during the week ending on January 22, 2011 opted for profit taking and the KSE-100 index lost 101 points to close at 12,432 points. Trading, however, improved and the average daily volume at ready counter increased by 25 percent to 234 million s
Published 24 Jan, 2011 12:00am
Two percent rise in futures open interest

Two percent rise in futures open interest

Total open interest position at the futures counter increased by 2 percent to Rs 1.67 billion. The futures spreads, however, declined by 34bps on week-on-week basis to 8.41 percent. Trading at the futures counter improved and the average daily volume incr
Published 24 Jan, 2011 12:00am
Two percent rise in futures open interest

Two percent rise in futures open interest

Total open interest position at the futures counter increased by 2 percent to Rs 1.67 billion. The futures spreads, however, declined by 34bps on week-on-week basis to 8.41 percent. Trading at the futures counter improved and the average daily volume incr
Published 24 Jan, 2011 12:00am
Two percent rise in futures open interest

Two percent rise in futures open interest

Total open interest position at the futures counter increased by 2 percent to Rs 1.67 billion. The futures spreads, however, declined by 34bps on week-on-week basis to 8.41 percent. Trading at the futures counter improved and the average daily volume incr
Published 24 Jan, 2011 12:00am
Two percent rise in futures open interest

Two percent rise in futures open interest

Total open interest position at the futures counter increased by 2 percent to Rs 1.67 billion. The futures spreads, however, declined by 34bps on week-on-week basis to 8.41 percent. Trading at the futures counter improved and the average daily volume incr
Published 24 Jan, 2011 12:00am
Judge says Bear Stearns investor case can proceed

Judge says Bear Stearns investor case can proceed

Plaintiffs in one of the biggest US investor lawsuits stemming from the financial crisis got a boost from a judge, who said a case against fallen investment bank Bear Stearns and its outside auditor, Deloitte & Touche, can go forward.
Published 24 Jan, 2011 12:00am
'Bangladesh to probe share market crash'

'Bangladesh to probe share market crash'

Bangladesh will probe the recent series of collapses in share prices that have triggered violent protest by investors and forced trading to halt, Finance Minister Abul Maal Abdul Muhith said on Sunday. Trading will resume in the Dhaka and Chittagong stock
Published 24 Jan, 2011 12:00am
'Bangladesh to probe share market crash'

'Bangladesh to probe share market crash'

Bangladesh will probe the recent series of collapses in share prices that have triggered violent protest by investors and forced trading to halt, Finance Minister Abul Maal Abdul Muhith said on Sunday. Trading will resume in the Dhaka and Chittagong stock
Published 24 Jan, 2011 12:00am
''Bangladesh to probe share market crash''

''Bangladesh to probe share market crash''

Bangladesh will probe the recent series of collapses in share prices that have triggered violent protest by investors and forced trading to halt, Finance Minister Abul Maal Abdul Muhith said on Sunday. Trading will resume in the Dhaka and Chittagong stock
Published 24 Jan, 2011 12:00am
Spain says to 'speed up' savings banks reforms

Spain says to 'speed up' savings banks reforms

Spain said on Sunday it will "speed up" reforms this week of its troubled regional saving banks, a major cause of concern over public finances amid the ongoing eurozone debt crisis.
Published 24 Jan, 2011 12:00am
Spain says to 'speed up' savings banks reforms

Spain says to 'speed up' savings banks reforms

Spain said on Sunday it will "speed up" reforms this week of its troubled regional saving banks, a major cause of concern over public finances amid the ongoing eurozone debt crisis.
Published 24 Jan, 2011 12:00am
Spain says to ''speed up'' savings banks reforms

Spain says to ''speed up'' savings banks reforms

Spain said on Sunday it will "speed up" reforms this week of its troubled regional saving banks, a major cause of concern over public finances amid the ongoing eurozone debt crisis.
Published 24 Jan, 2011 12:00am
Deadly Gaza flotilla raid was 'legal': Israeli probe

Deadly Gaza flotilla raid was 'legal': Israeli probe

An Israeli probe ruled Sunday that a deadly May 2010 raid on a flotilla of Gaza-bound aid ships, which killed nine Turkish activists and soured ties with Ankara, did not violate international law. However, a Turkish probe into the incident, which also rel
Published 24 Jan, 2011 12:00am
Deadly Gaza flotilla raid was 'legal': Israeli probe

Deadly Gaza flotilla raid was 'legal': Israeli probe

An Israeli probe ruled Sunday that a deadly May 2010 raid on a flotilla of Gaza-bound aid ships, which killed nine Turkish activists and soured ties with Ankara, did not violate international law. However, a Turkish probe into the incident, which also rel
Published 24 Jan, 2011 12:00am
Iran open to more nuclear talks: Ahmadinejad

Iran open to more nuclear talks: Ahmadinejad

Iran is open to holding further talks with six world powers over its nuclear programme, President Mahmoud Ahmadinejad said on Sunday, a day after the failure of the latest round of dialogue in Istanbul.
Published 24 Jan, 2011 12:00am
Iran open to more nuclear talks: Ahmadinejad

Iran open to more nuclear talks: Ahmadinejad

Iran is open to holding further talks with six world powers over its nuclear programme, President Mahmoud Ahmadinejad said on Sunday, a day after the failure of the latest round of dialogue in Istanbul.
Published 24 Jan, 2011 12:00am
Dubai opens 'world's highest' restaurant

Dubai opens 'world's highest' restaurant

Dubai opened on Sunday a restaurant 422 metres (1,350 feet) up in the sky on the 122nd floor of the world's tallest building, Burj Khalifa, its developers said. Atmosphere in Dubai's 828-metre (2,716.5-feet) building is "one of the finest luxury dining an
Published 24 Jan, 2011 12:00am
Dubai opens 'world's highest' restaurant

Dubai opens 'world's highest' restaurant

Dubai opened on Sunday a restaurant 422 metres (1,350 feet) up in the sky on the 122nd floor of the world's tallest building, Burj Khalifa, its developers said. Atmosphere in Dubai's 828-metre (2,716.5-feet) building is "one of the finest luxury dining an
Published 24 Jan, 2011 12:00am
Dubai opens ''world''s highest'' restaurant

Dubai opens ''world''s highest'' restaurant

Dubai opened on Sunday a restaurant 422 metres (1,350 feet) up in the sky on the 122nd floor of the world''s tallest building, Burj Khalifa, its developers said. Atmosphere in Dubai''s 828-metre (2,716.5-feet) building is "one of the finest luxury dining
Published 24 Jan, 2011 12:00am
MONEY WEEK: MPS: status quo to maintain

MONEY WEEK: MPS: status quo to maintain

The State Bank used to issue two Monetary Policy Statements in a given year. But in 2008, amid the volatile economic situation, the institution announced two additional interim measures and subsequently, in 2009, it decided to have bimonthly policy review
Published 24 Jan, 2011 12:00am
MONEY WEEK: MPS: status quo to maintain

MONEY WEEK: MPS: status quo to maintain

The State Bank used to issue two Monetary Policy Statements in a given year. But in 2008, amid the volatile economic situation, the institution announced two additional interim measures and subsequently, in 2009, it decided to have bimonthly policy review
Published 24 Jan, 2011 12:00am
MONEY WEEK: MPS: status quo to maintain

MONEY WEEK: MPS: status quo to maintain

The State Bank used to issue two Monetary Policy Statements in a given year. But in 2008, amid the volatile economic situation, the institution announced two additional interim measures and subsequently, in 2009, it decided to have bimonthly policy review
Published 24 Jan, 2011 12:00am
Supreme Court's hectic schedule for current week

Supreme Court's hectic schedule for current week

The Supreme Court has a hectic schedule in the current week starting from Monday. Besides, regular benches, the Judges sitting in four-member benches will have busy schedule when they once again don on their black robs after a break.
Published 24 Jan, 2011 12:00am
Pakistan Army contingent leaves for Darfur

Pakistan Army contingent leaves for Darfur

A Pakistan Army contingent departed on Sunday for Darfur to serve under the aegis of United Nations Peacekeeping Mission. Brigadier Amal Zada Khan saw the contingent off at Islamabad International Airport.
Published 24 Jan, 2011 12:00am
Three relatives of former Nazim killed in Hangu firing

Three relatives of former Nazim killed in Hangu firing

Two relatives and a friend of ex-nazim Hangu Amir Faisal were killed in a shoot-out incident when some unidentified armed motor cyclists opened indiscriminate firing on Nazim's vehicle near Hangu bypass road on Sunday, police said.
Published 24 Jan, 2011 12:00am
CJCSC meets Saudi Crown Prince in Riyadh

CJCSC meets Saudi Crown Prince in Riyadh

Chairman Joint Chiefs of Staff Committee (CJCSC), General Khalid Shameem Wynne who is on an official visit to Kingdom of Saudi Arabia spent a busy day here at Riyadh meeting top civil and military leadership. The most important meeting of the day was with
Published 24 Jan, 2011 12:00am
Ministry to start receiving Hajj applications from April 10

Ministry to start receiving Hajj applications from April 10

With a renewed pledge to provide maximum facilities to intending pilgrims and ensure flawless arrangements for Hajj-2011, the Ministry of Religious Affairs would start receiving applications from April 10- almost six months before the commencement of pre-
Published 24 Jan, 2011 12:00am
Three including woman killed in Mardan

Three including woman killed in Mardan

Three persons including a woman were killed over a dispute in Mardan district here on Sunday, police said. The shootout started when Harron Khan son of Ameer Bahadar and Nawad Ali son of Wali Rooz Khan allegedly started firing at each other after a disput
Published 24 Jan, 2011 12:00am
Four killed in road accident

Four killed in road accident

At least four persons were killed while two others sustained injuries in a road accident in the jurisdiction of Dakhan police station at Indus Highway on late Saturday night.
Published 24 Jan, 2011 12:00am
Urs of Data Gunj Bakhsh begins

Urs of Data Gunj Bakhsh begins

The three-day celebrations of 967th annual urs of Hazrat Ali Bin Usman Hajveri popularly known as Data Gunj Bakhsh (RA) has been started with traditional zeal at his shrine here on Sunday.
Published 24 Jan, 2011 12:00am
Punjab chief minister condoles death

Punjab chief minister condoles death

Punjab Chief Minister, Shahbaz Sharif here on Sunday said that Mohtamim Jamia Ashrafia, Maulana Abdul Rehman Ashrafi was a religious scholar of highest calibre and his services in the field of religion and promotion of unity of Muslims would long be remem
Published 24 Jan, 2011 12:00am
JI leaders grieved over Maulana Ashrafi's death

JI leaders grieved over Maulana Ashrafi's death

The top leadership of the Jamaat- e-Islami including JI chief, Syed Munawar Hasan, former chief, Qazi Husain Ahmed, deputy chiefs Chaudhry Muhammad Aslam Saleemi, Sirajul Haq and Dr Muhammad Kamal, Secretary General, Liaquat Baloch, have expressed deep gr
Published 24 Jan, 2011 12:00am
Irsa increases water releases from Mangla dam

Irsa increases water releases from Mangla dam

The Indus River System Authority (Irsa) on Sunday increased water release downstream Mangla Dam on river Jhelum from 10,000 cusecs to 15,000 cusecs to generate more Hydel electricity from its Mangla Hydel power houses, which have the capacity to produce 1
Published 24 Jan, 2011 12:00am
Brain of Kasur 2011: Chairman PEF congratulates Maryam

Brain of Kasur 2011: Chairman PEF congratulates Maryam

Chairman Punjab Education Foundation (PEF) Raja Muhammad Anwar has congratulated Maryam Mushtaq of Ayesha Public School, Chak No 8, Kasur on winning the coveted title of "Brain of Kasur 2011"-an inter school quiz competition arranged by Punjab Education F
Published 24 Jan, 2011 12:00am
PAC meeting today

PAC meeting today

A meeting of the Public Accounts Committee (PAC) of National Assembly will be held today at Parliament House. The meeting will be held under the Chairmanship of Chaudhry Nisar Ali Khan and other members of the committee will also attend the meeting. The c
Published 24 Jan, 2011 12:00am
Thousands protest US drone attacks

Thousands protest US drone attacks

More than 10,000 activists of Jamaat-i-Islami held an anti-US protest in Peshawar on Sunday calling for an immediate stop to American drone attacks in tribal areas, police said. The activists of Jamaat-i-Islami blocked a main road and staged a six-hour si
Published 24 Jan, 2011 12:00am
NBP announces 'Pak loan scheme 2010-11' for students

NBP announces 'Pak loan scheme 2010-11' for students

National Bank of Pakistan (NBP) on Sunday announced "Pak loan scheme 2010-11" for the students of public sector institutions. The NBP officials informed that government in collaboration with major commercial banks of the country including NBP, Habib Bank
Published 24 Jan, 2011 12:00am
Nine awarded seven-year imprisonment in forgery case

Nine awarded seven-year imprisonment in forgery case

Special Judge Anti-Corruption Dera Ghazi Khan Mian Muhammad Iqbal Bhatti has awarded seven years' imprisonment and a fine of one lakh rupees each to nine accused for the allotment of 2170 kanal state land near Rajanpur through forgery. The culprits will u
Published 24 Jan, 2011 12:00am
SNGPL suspends gas supply to over 600 industries for next four days

SNGPL suspends gas supply to over 600 industries for next four days

Sui Northern Gas Pipelines Limited (SNGPL) has stopped the gas supply to more than 600 industries for next 96 hours (Four days) from Sunday morning, while industrialists of Punjab are still waiting for implementation of Prime Minister's promises and no ou
Published 24 Jan, 2011 12:00am
Safe delivery centres to be set up at UC levels

Safe delivery centres to be set up at UC levels

Minister Population Welfare Punjab Neelam Jabbar has said that the philosophy of Bhutto will be remembered forever and Pakistan People's Party would fulfil the mission of Shaheed Quaid.
Published 24 Jan, 2011 12:00am
NH&MP conducts road safety campaign

NH&MP conducts road safety campaign

On the directions of Dr Wasim Kausar, Inspector General National Highways & Motorway Police (NH&MP), N-5 Central initiated a special campaign of "Public Awareness in Friendly Atmosphere" to impart road safety education to people.
Published 24 Jan, 2011 12:00am
Egyptian foreign minister warns Lebanon in 'dangerous situation'

Egyptian foreign minister warns Lebanon in 'dangerous situation'

Egyptian Foreign Minister Ahmed Abul Gheit on Sunday warned Lebanon was in a "dangerous situation" as fears of violence rise in the crisis-hit country. "Lebanon is in a dangerous situation," Abul Gheit said in an interview with local radio.
Published 24 Jan, 2011 12:00am
Spate of attacks kill eight in Iraq

Spate of attacks kill eight in Iraq

Car bombs and explosions killed eight people, including a policeman and two teenage boys, in and around Baghdad on Sunday, the latest in a spate of attacks indicating an apparent spike in unrest.
Published 24 Jan, 2011 12:00am
South Korean shipbuilder rolls out anti-piracy system

South Korean shipbuilder rolls out anti-piracy system

South Korea's Samsung Heavy Industries on Sunday rolled out a system to help ships detect and fend off pirates, after the recent hijacking of a South Korean freighter near Somalia alarmed shippers.
Published 24 Jan, 2011 12:00am
Thousands march against Belgium political impasse

Thousands march against Belgium political impasse

Thousands of Belgians staged a march of "Shame" in the capital Sunday to demand a government after a seven-month impasse between Dutch and French-speaking politicians, a European record. More than 30,000 people answered a Facebook call by students from bo
Published 24 Jan, 2011 12:00am
Rural Tunisians join protests against interim government

Rural Tunisians join protests against interim government

Protesters from Tunisia's poor rural heartlands demonstrated in the capital on Sunday to demand that the revolution they started should now sweep the remnants of the fallen president's old guard from power.
Published 24 Jan, 2011 12:00am
Tunisia arrests TV channel owner for 'treason'

Tunisia arrests TV channel owner for 'treason'

Tunisia has arrested the owner of a private TV station and his son for "grand treason" for inciting violence and working for ousted leader Zine al-Abidine Ben Ali's return, the state news agency said on Sunday.
Published 24 Jan, 2011 12:00am
Bangladesh girl kidnapped over share losses

Bangladesh girl kidnapped over share losses

A private tutor was arrested in a southeastern Bangladesh island for kidnapping a girl for a ransom to make up for losses he made in the recent stock market slump crash, police said Sunday.
Published 24 Jan, 2011 12:00am
Ireland's Green party pulls out of coalition government

Ireland's Green party pulls out of coalition government

Ireland's Green party said Sunday it was pulling out of Prime Minister Brian Cowen's coalition government, in a move likely to spark elections even earlier than those planned for March 11.
Published 24 Jan, 2011 12:00am
Belated justice for Taiwanese war hero

Belated justice for Taiwanese war hero

Taiwanese president Ma Ying-jeou at the weekend apologised to the family of a general who was held under house arrest on false charges for 33 years, reports said Sunday. Sun Li-jen was a senior general in the Kuomintang during the Chinese civil war, with
Published 24 Jan, 2011 12:00am
Afghan lawmakers drop Karzai's court demand

Afghan lawmakers drop Karzai's court demand

Afghan lawmakers set aside a demand for President Hamid Karzai to scrap a controversial court probing election fraud on Sunday, paving the way for parliament to convene in three days after weeks of in-fighting.
Published 24 Jan, 2011 12:00am
Iran announces launch of new cyber police units

Iran announces launch of new cyber police units

Iran's state TV says the country has launched its first cyber police unit in the latest attempt by authorities to gain an edge in the digital world. The Internet has been a key outlet for Iran's political opposition since the disputed presidential electio
Published 24 Jan, 2011 12:00am
Phone-hacking row 'targeted former Prime Minister Brown'

Phone-hacking row 'targeted former Prime Minister Brown'

Britain's opposition Labour party called Sunday for a fresh police probe into phone-hacking by journalists, amid reports that former prime minister Gordon Brown was among the high-profile figures targeted.
Published 24 Jan, 2011 12:00am
Egypt blames Palestinian group for church bombing

Egypt blames Palestinian group for church bombing

Egypt's interior minister said on Sunday the government had proof that the Army of Islam, a Palestinian group linked to al Qaeda, was behind the New Year's Day bombing of a church that killed 23 people. The Army of Islam praised the attack but denied invo
Published 24 Jan, 2011 12:00am
Sukuk market seen reviving

Sukuk market seen reviving

Global sales of Islamic bonds are forecast to rise nearly 60 percent this year to more than $22 billion as economic recoveries and high crude oil prices revive the market, a Reuters quarterly poll showed.
Published 24 Jan, 2011 12:00am
Sukuk market seen reviving

Sukuk market seen reviving

Global sales of Islamic bonds are forecast to rise nearly 60 percent this year to more than $22 billion as economic recoveries and high crude oil prices revive the market, a Reuters quarterly poll showed.
Published 24 Jan, 2011 12:00am
Offshore yuan market hot

Offshore yuan market hot

The nascent offshore yuan market's growth in Hong Kong has been rapid, but its shortcomings are giving rise to a synthetic sister that may grow even more quickly.
Published 24 Jan, 2011 12:00am
Middle East markets: Aldar at five-year low

Middle East markets: Aldar at five-year low

Abu Dhabi's Aldar Properties slumped to a five-year low on Sunday, extending declines since it unveiled a restructuring plan dilutive to minority shareholders. Middle East markets were mixed as Egypt, Qatar and Dubai made further losses, while Oman and Sa
Published 24 Jan, 2011 12:00am
Inflation fears drive Asian stock reallocation

Inflation fears drive Asian stock reallocation

A slide in Asian equities since the start of 2011 that gained momentum this week on fears over inflation is not a rush by investors to exit emerging markets, but a paring of exposure to economies seen with most to lose. Sellers have targeted stocks in Ind
Published 24 Jan, 2011 12:00am
Global markets uneasy over inflation

Global markets uneasy over inflation

Investors may be forced to rethink investment strategies that centre on the rosy prospect of low inflation as key central banks look set to renew pledges to print money in the coming week.
Published 24 Jan, 2011 12:00am
Japan stocks seen stable next week

Japan stocks seen stable next week

Japanese shares are likely to hold steady in the week ahead on the back of expectations of solid US economic recovery, brokers said Friday. In the week to January 21, the benchmark Nikkei index at the Tokyo Stock Exchange fell 2.14 percent, or 224.52 poin
Published 24 Jan, 2011 12:00am
Canadian dollar set to outperform commodity rivals

Canadian dollar set to outperform commodity rivals

A shift by investors in commodity currencies should see the Canadian dollar outperform its close rivals, buoyed by a hawkish interest rate outlook, high oil prices and an improving picture for the U.S economy.
Published 24 Jan, 2011 12:00am
Regulators on the rack as Bangladesh stocks crash

Regulators on the rack as Bangladesh stocks crash

The Dhaka Stock Exchange is in meltdown and observers are blaming the crisis on mistimed interventions by regulators triggering mass panic among millions of inexperienced retail investors.
Published 24 Jan, 2011 12:00am
Bar set high with Wall Street on pullback brink

Bar set high with Wall Street on pullback brink

The much anticipated pullback is finally under way, some investors say, after a mid-week wobble. But the market is showing it still has some juice left - if earnings can meet towering expectations.
Published 24 Jan, 2011 12:00am
London market awaits British growth data

London market awaits British growth data

London stock market traders will next week pore over British economic growth data as they wait to see if the FTSE 100 can forge a rebound. The FTSE 100 index slid 1.76 percent over the past week to finish on Friday at 5,896.25 points. The Office of Nation
Published 24 Jan, 2011 12:00am
Trading probe reveals the temptations for 'experts'

Trading probe reveals the temptations for 'experts'

Expert network firms, currently the focus of a major US insider trading investigation, have never had to work too hard to find midlevel corporate executives willing to moonlight as paid consultants.
Published 24 Jan, 2011 12:00am
One die as Bangladesh police fire at workers

One die as Bangladesh police fire at workers

At least one person died and 20 were injured Sunday near Bangladesh's capital after police fired rubber bullets at hundreds of labourers demanding a pay-hike, according to a local officer. Police chief Afzal Hossain said officers opened fire after workers
Published 24 Jan, 2011 12:00am
China's economy to grow 9.8 percent in 2011

China's economy to grow 9.8 percent in 2011

A Chinese government think tank has forecast the nation's economy will grow around 9.8 percent this year, with inflation likely to come in at 3.7 percent, state media reported Sunday. Experts at the Chinese Academy of Sciences also predicted that gross do
Published 24 Jan, 2011 12:00am
China to expand property controls

China to expand property controls

China is to expand its limits on property purchases to second and third-tier cities, a report said Sunday, as it steps up efforts to cool its real estate market. Authorities have drawn up a list of cities that will have to implement the limits, the Chongq
Published 24 Jan, 2011 12:00am
Saudi signs nuclear deal, to cut fossil fuel use

Saudi signs nuclear deal, to cut fossil fuel use

Top oil exporter Saudi Arabia wants to cut fossil fuel consumption within the next several decades, it said at an industry event where nuclear reactor maker Areva is set to sign a major agreement with a local Saudi partner.
Published 24 Jan, 2011 12:00am
Boeing says 'immature' technology behind 787 delay

Boeing says 'immature' technology behind 787 delay

Boeing said on Sunday that the use of "immature" technology caused delays in the delivery of its 787 Dreamliner passenger jet, a project almost three years behind schedule. "Some of the technology was not as mature as it should have been and we put a glob
Published 24 Jan, 2011 12:00am
China could act on currency this year: Kissinger

China could act on currency this year: Kissinger

China could act on revaluing its currency over the course of the year, without admitting defeat in their battle with the international community over its value, former US secretary of state Henry Kissinger said Sunday.
Published 24 Jan, 2011 12:00am
Debt limit hike must be tied to cuts: US House leader

Debt limit hike must be tied to cuts: US House leader

US House of Representatives Majority Leader Eric Cantor said on Sunday his fellow Republicans would not vote to increase the US debt limit unless it was coupled with spending cuts and reforms.
Published 24 Jan, 2011 12:00am
Debt limit hike must be tied to cuts: US House leader

Debt limit hike must be tied to cuts: US House leader

US House of Representatives Majority Leader Eric Cantor said on Sunday his fellow Republicans would not vote to increase the US debt limit unless it was coupled with spending cuts and reforms.
Published 24 Jan, 2011 12:00am
Beef row threat to Taiwan-US trade talks

Beef row threat to Taiwan-US trade talks

Concerns grew Sunday that trade talks between Taiwan and the United States could be shelved amid fears Washington has taken offence at the island's decision to pull drug-tainted US beef from shelves. Taiwan's deputy foreign minister Shen Lyu-hsun told par
Published 24 Jan, 2011 12:00am
India to hike rates again over inflation worries

India to hike rates again over inflation worries

India's central bank is expected this week to hike interest rates for the seventh time in less than 12 months to clamp down on soaring inflation as clouds gather over the country's booming economy.
Published 24 Jan, 2011 12:00am
Eurozone squares up to rescue fund re-design

Eurozone squares up to rescue fund re-design

Talks are accelerating that could see the eurozone's rescue fund given a wider remit in a bid to master a mercurial debt crisis and push national economies towards greater convergence. "We are reflecting, throwing about ideas," a European Union diplomatic
Published 24 Jan, 2011 12:00am
Germany to deliver EU package soon

Germany to deliver EU package soon

Germany's conservative coalition government wants to deliver a comprehensive package soon to strengthen the European rescue fund, the country's Finance Minister Wolfgang Schaeuble was quoted as saying on Sunday. "We (the coalition) agree that we want to t
Published 24 Jan, 2011 12:00am
Greece ready to issue diaspora bond: minister

Greece ready to issue diaspora bond: minister

Greece will issue a diaspora bond aimed at Greek investors all over the world "within the next few months" in an effort to return to long term bond markets in 2011, Finance Minister George Papaconstantinou said Sunday.
Published 24 Jan, 2011 12:00am
Greece ready to issue diaspora bond: minister

Greece ready to issue diaspora bond: minister

Greece will issue a diaspora bond aimed at Greek investors all over the world "within the next few months" in an effort to return to long term bond markets in 2011, Finance Minister George Papaconstantinou said Sunday.
Published 24 Jan, 2011 12:00am
UBS to boost bonuses by up to 25 percent

UBS to boost bonuses by up to 25 percent

Switzerland's biggest bank, UBS, is planning to boost its bonus payouts this year by up to 25 percent, Swiss weekly SonntagsZeitung said on Sunday. The newspaper cited a source with access to UBS top management as saying that Europe's biggest wealth manag
Published 24 Jan, 2011 12:00am
Dubai World's port division defends finances

Dubai World's port division defends finances

DP World officials defended the Dubai port operator's finances Sunday, saying the company is under no pressure to raise cash even as a sister firm announced plans to seek new terms on its debt.
Published 24 Jan, 2011 12:00am
Telefonica, China Unicom deepen alliance

Telefonica, China Unicom deepen alliance

Spain's Telefonica and No 2 Chinese mobile operator China Unicom will deepen their strategic alliance by buying an additional $500 million stake in each other, the Spanish company said on Sunday. The two companies, which together have more than 550 millio
Published 24 Jan, 2011 12:00am
South Africa clinch ODI series

South Africa clinch ODI series

Yusuf Pathan hit a blistering 68-ball century but could not stop South Africa from winning the series-deciding fifth and final one-day international against India at SuperSport Park on Sunday. South Africa won by 33 runs according to the Duckworth/Lewis m
Published 24 Jan, 2011 12:00am
Inter beaten for first time under Leonardo

Inter beaten for first time under Leonardo

Champions Inter Milan, desperate to make up ground after a poor start to the Serie A season, suffered their first defeat in six games under new coach Leonardo when they lost 3-1 at in-form Udinese on Sunday.
Published 24 Jan, 2011 12:00am
Kaymer cruises to another Abu Dhabi title

Kaymer cruises to another Abu Dhabi title

German golf star Martin Kaymer won the 2.7million dollar Abu Dhabi Golf Championship for an unprecedented third time here on Sunday charging away to win by eight shots. The 26-year-old US PGA Championship titleholder shot a bogey-free round of six-under p
Published 24 Jan, 2011 12:00am
Yousuf fined, banned for two ODIs

Yousuf fined, banned for two ODIs

Pakistani batsman Mohammad Yousuf has been fined 15,000 rupees ($175) for wearing wrong coloured pads during the country's top domestic one-day tournament. Pakistan Cricket Board spokesman Nadeem Sarwar says match referee Ilyas Khan also banned Yousuf for
Published 24 Jan, 2011 12:00am
Russia officially appointed 2018 hosts

Russia officially appointed 2018 hosts

Russia on Sunday made their status as hosts of the 2018 World Cup official when signing FIFA's declaration of appointment. The ceremony formally confirmed the decision by FIFA to appoint Russia as hosts of the 2018 edition of the football extravaganza.
Published 24 Jan, 2011 12:00am
Manchester United deny holding sale talks with Qatar

Manchester United deny holding sale talks with Qatar

English Premier League leaders Manchester United said on Sunday they were not for sale after the Sunday Times reported that Qatar Holding had held talks about a 1.5-billion-pound ($2.39-billion) take-over.
Published 24 Jan, 2011 12:00am
Armstrong ends international cycling career

Armstrong ends international cycling career

Tour de France icon Lance Armstrong brought an end to his international cycling career Sunday when he completed the final stage of the Tour Down Under in Adelaide. Cancer survivor Armstrong won a record seven Tour de France yellow jerseys, but failed to p
Published 24 Jan, 2011 12:00am
Afridi must perform: former cricketers

Afridi must perform: former cricketers

Former Pakistani players have come down heavily on skipper Shahid Afridi after the team's embarrassing defeat in the first one-dayer against New Zealand in Wellington. The series holds significance as it precedes next month's World Cup in the sub-continen
Published 24 Jan, 2011 12:00am
Hussey guides Australia win

Hussey guides Australia win

David Hussey steered Australia to a four-wicket win over England in the third one-day international at the Sydney Cricket Ground on Sunday. Australia posted 215-6 to win with four overs to spare, after England scored just 214 from 48 overs - the third tim
Published 24 Jan, 2011 12:00am
Wapda wins seventh National Ju Jitsu Championship

Wapda wins seventh National Ju Jitsu Championship

Wapda won 7th National Ju Jitsu Championship by securing 77 points, while police remained runners-up with 39 points followed by Punjab for the third slot with 26 points.
Published 24 Jan, 2011 12:00am
Federer labours, Schiavone wins longest match

Federer labours, Schiavone wins longest match

Roger Federer made hard work of reaching his 27th consecutive grand slam quarter-final at the Australian Open on Sunday but it looked like a short shift after Francesca Schiavone's titanic tussle with Svetlana Kuznetsova.
Published 24 Jan, 2011 12:00am
Key dates in Apple history

Key dates in Apple history

Key dates in the history of Apple: 1976: Co-founder and chief executive Steve Jobs and Steve Wozniak unveil the first Apple computer in Palo Alto, California. It consists of little more than a circuit board and costs just under $700.
Published 24 Jan, 2011 12:00am
Funds' commodity holdings may hit 500 billion dollars

Funds' commodity holdings may hit 500 billion dollars

Commodity investments could near half a trillion dollars by the end of 2011 as the return of $100 oil and a broad-based rally heighten interest in the asset class to levels not seen since 2008.
Published 24 Jan, 2011 12:00am
Funds' commodity holdings may hit 500 billion dollars

Funds' commodity holdings may hit 500 billion dollars

Commodity investments could near half a trillion dollars by the end of 2011 as the return of $100 oil and a broad-based rally heighten interest in the asset class to levels not seen since 2008.
Published 24 Jan, 2011 12:00am
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