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Archive - 2011-02-11
US unveils housing market overhaul
Top News

US unveils housing market overhaul

The Treasury Department proposed Friday to set a mandatory 10 percent down payment for US home buyers and to wind down s
Published 11 Feb, 2011 04:25pm
Food prices to ease in near term
Asia

Food prices to ease in near term

NEW DELHI: India should see an easing of food prices in the near term, with food inflation in a "much more comfortable p
Published 11 Feb, 2011 02:37pm
Mubarak leaves Cairo with family: source
Top News

Mubarak leaves Cairo with family: source

CAIRO: Embattled Egyptian President Hosni Mubarak left Cairo with his family on Friday; a source close to the government
Published 11 Feb, 2011 02:22pm
Nishat Power reports profit
Financial

Nishat Power reports profit

KARACHI: Nishat Power Ltd has posted profit after tax of Rs 1.210 billion during the six months ending December 31, 2010
Published 11 Feb, 2011 11:36am
Federal Cabinet takes oath
Top News

Federal Cabinet takes oath

ISLAMABAD: 23 federal cabinet members selected to take oath today Including Rehman Mailk, Dr. Hafeez, Ch. Ahmed Mukht
Published 11 Feb, 2011 11:34am
Federal Cabinet takes oath
Top News

Federal Cabinet takes oath

ISLAMABAD: 23 federal cabinet members selected to take oath today Including Rehman Mailk, Dr. Hafeez, Ch. Ahmed Mukht
Published 11 Feb, 2011 11:34am
ABL declares bonus, dividend
Financial

ABL declares bonus, dividend

KARACHI: Allied Bank of Pakistan (ABL) has posted a higher profit after tax of Rs 8.283 billion for the year ending Dece
Published 11 Feb, 2011 11:28am
Iran gas pipelines explode
Energy

Iran gas pipelines explode

TEHRAN: Up to three gas pipelines exploded on Friday in central Iran near the Shiite holy city of Qom without causing ca
Published 11 Feb, 2011 11:14am
'Top Gear' coming to China
Asia

'Top Gear' coming to China

BEIJING: China, the world's largest car market, is revving up for its own version of the BBC's hugely successful motorin
Published 11 Feb, 2011 10:00am
IMF chief urges global monetary reform
Top News

IMF chief urges global monetary reform

WASHINGTON: IMF chief Dominique Strauss-Kahn on Thursday suggested the currencies of China and other emerging economies
Published 11 Feb, 2011 09:58am
Corporate takeovers on wall street
Top News

Corporate takeovers on wall street

BANGALORE: A.U.S. government panel may urge President Barack Obama to veto Huawei Technologies Co Ltd's acquisition of 3
Published 11 Feb, 2011 09:26am
Indonesia arrests 13 over violence
Asia

Indonesia arrests 13 over violence

JAKARTA : Indonesian police said Friday they had arrested 13 men over two incidents of religious mob violence which left
Published 11 Feb, 2011 08:55am
Mubarak speech fails to deal with crisis
Top News

Mubarak speech fails to deal with crisis

CAIRO: Human Rights Watch warned Friday that a speech by President Hosni Mubarak promising reforms failed to address the
Published 11 Feb, 2011 07:25am
MCB: CY10
BR Research

MCB: CY10

Kicking off the earnings season for the major banks, MCB announced its result on the local bourse yesterday. Setting the bar for the rest of
Published 11 Feb, 2011 12:00am
PIA strike action
BR Research

PIA strike action

Burning tyres, stranded passengers and blocked runways are hardly the image an airline or its loyal employees would like to present. But thi
Published 11 Feb, 2011 12:00am
IGI Funds Limited: Management Quality Rating of 'AM2-' assigned

IGI Funds Limited: Management Quality Rating of 'AM2-' assigned

JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of 'AM2-' (AM-Two Minus) with a stable outlook to IGI Funds Limited. This credit rating is indicative of the sound governance structure instituted at the management com
Published 11 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 11 Feb, 2011 12:00am
IGI Funds Limited: Management Quality Rating of 'AM2-' assigned

IGI Funds Limited: Management Quality Rating of 'AM2-' assigned

JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of 'AM2-' (AM-Two Minus) with a stable outlook to IGI Funds Limited. This credit rating is indicative of the sound governance structure instituted at the management com
Published 11 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 11 Feb, 2011 12:00am
Waris Niazi promoted as Secretary ISE

Waris Niazi promoted as Secretary ISE

Islamabad Stock Exchange (ISE) has appointed Muhammad Waris Niazi as Secretary of the ISE to look after the matters including administrative issues of the exchange. Sources told Business Recorder here on Thursday that the ISE has issued an office o
Published 11 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 10, 2011).

Published 11 Feb, 2011 12:00am
Shujaat says Nawaz behind 'conspiracy' against Moonis

Shujaat says Nawaz behind 'conspiracy' against Moonis

Pakistan Muslim League-Q (PML-Q) President, Chaudhry Shujaat Hussain on Thursday said that Moonis Elahi was being implicated in a baseless and fabricated case by the Federal Investigation Agency (FAI), while an unjustified media trial had been orchestrate
Published 11 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 10, 2011).

Published 11 Feb, 2011 12:00am
Private institutions urged to make education affordable

Private institutions urged to make education affordable

Prominent educationist and Rector Lahore City University, Mansoor Fasial has called upon the private educational institutions to jointly work towards the mission of making higher education more affordable and accessible to those who aspire to excel in pro
Published 11 Feb, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (February 10, 2011) and the forecast for Friday (February 11, 2011).

Published 11 Feb, 2011 12:00am
PUASA demands immediate removal of Additional Registrar, Treasurer

PUASA demands immediate removal of Additional Registrar, Treasurer

Punjab University Academic Staff Association (PUASA) has demanded the immediate removal of University's Additional Registrar Dr Aurangzeb Alamgir and Treasurer Uzma Ikram alleging the officers had jeopardised the academic and financial activities on campu
Published 11 Feb, 2011 12:00am
Auto marking computerised system inaugurated

Auto marking computerised system inaugurated

The Chief Justice Lahore High Court inaugurated the auto marking computerised system here on Thursday. He said that new system would facilitate the members bar and public to become aware of their cases online. The chief justice LHC urged the computer staf
Published 11 Feb, 2011 12:00am
National Savings to become corporation soon: DG

National Savings to become corporation soon: DG

National Savings organisation is to become a corporation for which a three-member committee was working on the modus operandi to meet all the corporate requirements, said Director General National Savings, Sheikh M Zafar here on Thursday. While talking to
Published 11 Feb, 2011 12:00am
LHC grants bail to accused of blasphemy

LHC grants bail to accused of blasphemy

The Lahore High Court (LHC) here on Thursday granted bail to an accused of blasphemy Shahid Hassan Sheikh. The applicant Shahid through his counsel submitted that he was implicated in the case on behest of Malik Iftikhar. He was vice president of Ahl-e-Ha
Published 11 Feb, 2011 12:00am
Corrupt politicians looted national wealth, says Imran

Corrupt politicians looted national wealth, says Imran

People of Pakistan are fed up of these corrupt politicians who have only looted the national exchequer but pushed the country into deep ditch of lawlessness and chaos, said Chairman Pakistan Tehreek-e-Insaf, Imran Khan while addressing to a huge gathering
Published 11 Feb, 2011 12:00am
'Jazz SMS Khazana': customer given Rs three million cheque

'Jazz SMS Khazana': customer given Rs three million cheque

An SMS can sometimes change your life and make your dreams come true. In a similar way, Jazz SMS Khazana, at the conclusion of its fourth round brought a radical change in the life of its grand prize winner, Saeeda M Yousaf, the 26 year old winner of four
Published 11 Feb, 2011 12:00am
Kaira condemns attack

Kaira condemns attack

Punjab Finance Minister Tanvir Ashraf Kaira has condemned on Thursday the suicide attack at Punjab Regiment Centre in Mardan. He said terrorists wanted to create anarchy in the country by resorting to bomb blasts and suicide attacks, but the government is
Published 11 Feb, 2011 12:00am
Nawaz slams terrorist attack

Nawaz slams terrorist attack

Pakistan Muslim League-Nawaz (PML-N) Chief Mian Muhammad Nawaz Sharif has strongly condemned the terrorist attack at the Punjab Regimental Centre in Mardan Cantonment that claimed several precious lives. The PML-N leader here on Thursday expressed shock o
Published 11 Feb, 2011 12:00am
Deaths condoled: JI sees foreign hand behind Mardan blast

Deaths condoled: JI sees foreign hand behind Mardan blast

Jamaat-e-Islami chief, Syed Munawar Hasan and Secretary General, Liaquat Baloch have condemned the bomb blast at Punjab Regiment centre, Mardan resulting in over 30 deaths and blamed foreign hand for the tragedy. In a joint condolence message, they said t
Published 11 Feb, 2011 12:00am
Another spell of rains/snow starts from today

Another spell of rains/snow starts from today

Met Office has predicted another spell of scattered rains/snow over the hills from today till 16th February over different parts of the country. Met Office said that another weather system of moderate intensity is likely to enter in Pakistan through Baloc
Published 11 Feb, 2011 12:00am
Power demand and supply gap reduces

Power demand and supply gap reduces

Gap between demand and supply of electricity has reduced to 400MW with improved generation through hydel, thermal and IPPs. Power generation remained 11269MW against a demand of 11666MW, putting the shortfall at 397MW in total. Power generation through hy
Published 11 Feb, 2011 12:00am
Flood survivors: sixth Saudi relief convoy dispatched

Flood survivors: sixth Saudi relief convoy dispatched

The Royal Embassy of Saudi Arabia in Islamabad has the pleasure to announce that under the directives of the custodian of the two holy mosques, King Abdullah Bin Abdul Aziz and direct supervision of Prince Naif Bin Abdul Aziz, Deputy Prime Minister, Custo
Published 11 Feb, 2011 12:00am
Next phase of Telenor's 'Karo Mumkin' show announced

Next phase of Telenor's 'Karo Mumkin' show announced

Telenor Pakistan on Thursday announced the next phase of its 'Karo Mumkin' initiative aimed at helping people in making an idea a reality. Addressing a press conference, Usman Javaid Director Marketing Telenor Pakistan said that Telenor Pakistan's Karo Mu
Published 11 Feb, 2011 12:00am
Capital police arrest 34 outlaws from various areas

Capital police arrest 34 outlaws from various areas

Islamabad Police have arrested 34 outlaws from different areas of the city and recovered a total of 514 bottles of liqueur, 11 pistol, one Kalashnikov, one dagger, 2.6 kg hashish and 180 gram heroin from their possession, said a spokesman of Islamabad Pol
Published 11 Feb, 2011 12:00am
Faiz poetry CD launched

Faiz poetry CD launched

The much awaited CD of Faiz poetry sung by Tina Sani was launched at a press conference held here on Thursday in connection with the 100th birth day celebrations of Faiz Ahmad Faiz. The ceremony was attended by Chairperson Faiz Foundation Trust Salima Has
Published 11 Feb, 2011 12:00am
JI leaders offer condolence

JI leaders offer condolence

The Jamaat-e-Islami chief, Syed Munawar Hasan, former chief, Qazi Husain Ahmed, Secretary General, Liaquat Baloch, deputy chiefs and other party leaders have expressed deep grief over the sad demise of the sister of the JI Punjab chief, Dr Syed Waseem Akh
Published 11 Feb, 2011 12:00am
'Faiz one of few major poets in Urdu'

'Faiz one of few major poets in Urdu'

Faiz is one of a few major poets in Urdu and is the only one after Iqbal who got recognition at international level. He voiced the problems and miserable conditions of liberals and people from marginalised sections of society in his poetry. These views we
Published 11 Feb, 2011 12:00am
Security plan for 'Peghember-e-Inqilab' conference finalised

Security plan for 'Peghember-e-Inqilab' conference finalised

Islamabad Police have chalked out a comprehensive security plan for 17th one-day 'Peghember-e-Inqilab' Conference to be held on Friday (today) at G-9 Markaz to meet any eventuality. The security plan was finalised by SSP Islamabad Tahir Alam Khan in consu
Published 11 Feb, 2011 12:00am
'Society is insensitive to rights of special people'

'Society is insensitive to rights of special people'

Former City Nazim Syed Mustafa Kamal has said that society is insensitive to rights of the special people and there is a dire need to create awareness among people about these special people. He was speaking at a meeting organised by Support Trust where r
Published 11 Feb, 2011 12:00am
'SBP to provide enabling environment to Islamic banking industry'

'SBP to provide enabling environment to Islamic banking industry'

Yaseen Anwar, Deputy Governor, State Bank of Pakistan (SBP) has said that the central bank is committed to provide an enabling and supportive legal, policy and regulatory framework for the development of the Islamic banking industry on sound footings in t
Published 11 Feb, 2011 12:00am
HRCP activist: Balochistan government urged to ensure safe recovery

HRCP activist: Balochistan government urged to ensure safe recovery

The Human Rights Commission of Pakistan (HRCP) has called upon the Balochistan government to ensure safe recovery of HRCP activist Siddique Eido, who was abducted in Gwadar by men wearing official uniforms on December 21 last. In a letter to the Balochist
Published 11 Feb, 2011 12:00am
Development works in Site area: four members' committee formed

Development works in Site area: four members' committee formed

Sindh Minister for Industries and Commerce, M. A. Rauf Siddiqui has announced establishment of a four members committee to look into ongoing infrastructure development works, its quality and progress in Site industrial area. He formed this committee durin
Published 11 Feb, 2011 12:00am
No electricity, no gas in Quetta

No electricity, no gas in Quetta

Dozens of citizens suffering from cold related diseases were reported visiting hospitals and private clinics as the capital of Balochistan has been experiencing acute shortage of electricity and suspension of natural gas supply in weather of minus tempera
Published 11 Feb, 2011 12:00am
Four killed in series of clashes

Four killed in series of clashes

At least four persons were injured in a chain of clashes in the city, here on Thursday. According to police sources, the series of clashes, which erupted between Pakhtoon Student Federation (PSF) and Jamiat Tuliba Islam (JTI), started at Government Gulsha
Published 11 Feb, 2011 12:00am
Nisar's mother laid to rest

Nisar's mother laid to rest

Pakistan Muslim League (N) leader Chaudhry Nisar Ali Khan's mother laid to rest at Chakri graveyard amid in tears here on Thursday.
Published 11 Feb, 2011 12:00am
JI condemns decision of salary cut

JI condemns decision of salary cut

The Jamaat- e- Islami Secretary General, Liaquat Baloch, has condemned the PPP-PML (N) decision for 25 per cent cut in the government employees' salaries and termed it cruel and stabbing the employees in the back. He said that the prices of essential good
Published 11 Feb, 2011 12:00am
Port Qasim workers demand better work opportunities

Port Qasim workers demand better work opportunities

Dock-workers of Port Qasim Authority (PQA) have demanded of the government to settle their issue of improved work opportunities at the country's seconds largest seaport. Talking to Business Recorder on Thursday, one of the representatives of docker
Published 11 Feb, 2011 12:00am
PPP activist gunned down

PPP activist gunned down

An activist of Pakistan Peoples Party (PPP) was gunned down while another injured in the limits of Shahrah-e-Faisal police station on Thursday. According to police, the victim, who was later identified as Nadeem, 29 alias Ganja son of Siraj, was targeted
Published 11 Feb, 2011 12:00am
Pakistani women are eager to grab opportunities, says Uzra

Pakistani women are eager to grab opportunities, says Uzra

To build professional friendships, mentorship, and lobbying amongst professional and influential women in Pakistan, a fund raising luncheon was arranged by Dawood Capital Management in collaboration with British Deputy High Commission here in city.
Published 11 Feb, 2011 12:00am
NICL scam: Punjab government urged to retrieve land at the earliest

NICL scam: Punjab government urged to retrieve land at the earliest

Punjab government should take pragmatic measures to provide relief and retrieve agriculture land of poor farmers of Toor Waraich situated in Lahore cantt, grabbed by the influential people headed by former Member National Assembly, Major Habibullah Waraic
Published 11 Feb, 2011 12:00am
Land scam case: LHC allows bail to former minister, four other accused

Land scam case: LHC allows bail to former minister, four other accused

Justice Manzoor Ahmad Malik of the Lahore High Court here Thursday allowed bail to former minister for defence Major (Retd) Habibullah Warraich and four other accused involved in land scam of National Insurance Corporation Limited (NICL) owned by MPA Moon
Published 11 Feb, 2011 12:00am
UK lawyers commend legal community

UK lawyers commend legal community

President British-Pakistani Lawyers Forum, Naseem Ahmed Bajwa, a UK-based advocate, and Grame D Karik solicitor, have appreciated the legal community in Pakistan for rendering sacrifices for the independence of judiciary. Addressing Lahore High Court Bar
Published 11 Feb, 2011 12:00am
PRCL's training workshop on February 14

PRCL's training workshop on February 14

Pakistan Reinsurance Company Limited (PRCL) is organising a training workshop on 'The magic of being Positive' on 14th February 2011 at Pakistan Insurance Institute, 30-B, Lalazar Drive, MT Khan Road. The workshop will be attended by senior management and
Published 11 Feb, 2011 12:00am
'PAS to hold first ever advertising awards ceremony for industry'

'PAS to hold first ever advertising awards ceremony for industry'

The Pakistan Advertisers Society (PAS) is holding the first ever advertising awards for the industry, announced Chairman PAS, Aly Mustansir on Thursday. Speaking at the press conference at a local hotel, he said the award ceremony would take place in Apri
Published 11 Feb, 2011 12:00am
Guest loyalty programme: Etihad Airways signs 50,000 Pakistanis

Guest loyalty programme: Etihad Airways signs 50,000 Pakistanis

Etihad Airways, the national airline of the United Arab Emirates, has signed up the 50,000th Pakistan-based member in its Etihad Guest loyalty programme. The 50,000th member is Muhammad Naeem of Sialkot, who joined last month during his flight from Lahore
Published 11 Feb, 2011 12:00am
MCCI stresses need for widening tax base

MCCI stresses need for widening tax base

Multan Chamber of Commerce and Industry (MCCI) stressed the need for widening tax base for bringing agriculturists and landlords into the tax net. President MCCI, Shahid Naseem Khokhar on Thursday said levying 3.5 percent withholding tax on traders and in
Published 11 Feb, 2011 12:00am
LCCI delegation to visit South Africa

LCCI delegation to visit South Africa

An eight-member LCCI delegation is leaving on Saturday for a 12-day business visit to South Africa to explore new business avenues and enhance two-way trade. The delegation headed by LCCI Executive Committee Member Dr Shahid Raza would have meetings at va
Published 11 Feb, 2011 12:00am
JICA plans to introduce MTS in Karachi

JICA plans to introduce MTS in Karachi

Japan Interna-tional Co-operation Agency (JICA) plans to introduce Mass Transit System (MTS) in Karachi. This was stated by Director General (Karachi Mass Transit Cell) Malik Zaheer ul Islam, at a seminar on Karachi Transportation Improvement Project held
Published 11 Feb, 2011 12:00am
Pakistan seeks Chinese help in capacity building of manpower

Pakistan seeks Chinese help in capacity building of manpower

To enhance the capacity of its manpower, Pakistan has requested assistance from China in vocational and technical training in various areas of value addition. Pakistan particularly needs capacity building of its manpower in sectors like textiles, gems & j
Published 11 Feb, 2011 12:00am
National Assembly speaker to attend Colombo conference

National Assembly speaker to attend Colombo conference

Dr Fehmida Mirza, Speaker National Assembly will proceed to Colombo to attend the 3rd Commonwealth Parliamentary Association's Asian Regional Conference being held from 11th to 16th February at Colombo, Sri Lanka. She will be accompanied by a five-member
Published 11 Feb, 2011 12:00am
PIA flights disruption: Airlines fleecing travelling public

PIA flights disruption: Airlines fleecing travelling public

Taking advantage of the disruption in PIA flights, Air Blue has exorbitantly increased its domestic fares without any tangible reasons. Eng. M.A,Jabbar, former Vice-President, Federation of Pakistan Chambers of Commerce and Industry who was to travel by P
Published 11 Feb, 2011 12:00am
Pacra assigns 'star ranking' to KASB funds

Pacra assigns 'star ranking' to KASB funds

Pakistan Credit Rating Agency (Pacra) has assigned the following rankings to the eligible funds of KASB Limited, based on performance review for the period ended June 30, 2010 (wailing 12 months for normal star rankings and trailing 36 months for long-ter
Published 11 Feb, 2011 12:00am
Pacra assigns 'star ranking' to KASB funds

Pacra assigns 'star ranking' to KASB funds

Pakistan Credit Rating Agency (Pacra) has assigned the following rankings to the eligible funds of KASB Limited, based on performance review for the period ended June 30, 2010 (wailing 12 months for normal star rankings and trailing 36 months for long-ter
Published 11 Feb, 2011 12:00am
AHI asset manager rating maintained

AHI asset manager rating maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the asset manager rating of Arif Habib investments Limited (AHI) at 'AM2' (AM two) while 'Positive Outlook' has been maintained to this rating. The rating reflects the company's leading industry pos
Published 11 Feb, 2011 12:00am
AHI asset manager rating maintained

AHI asset manager rating maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the asset manager rating of Arif Habib investments Limited (AHI) at 'AM2' (AM two) while 'Positive Outlook' has been maintained to this rating. The rating reflects the company's leading industry pos
Published 11 Feb, 2011 12:00am
Two gas pipelines blown up in Dera Bugti

Two gas pipelines blown up in Dera Bugti

Unknown men once again blown up two natural gas supply pipelines in Dera Bugti. Unidentified men have attached explosive materials with 16-inch and 08-inch diameter pipelines and detonated them. As a result of the explosion, gas supply from gas-wells numb
Published 11 Feb, 2011 12:00am
No headway in talks between Malik, PIA employees

No headway in talks between Malik, PIA employees

No headway could be made in talks between Federal Minister for Interior Rehman Malik and Joint Action Committee of PIA employees held here for resolving the ongoing stand-off between workers and the airlines' management. The PIA Employees Joint Action Com
Published 11 Feb, 2011 12:00am
Patients remain unattended at government hospitals for hours

Patients remain unattended at government hospitals for hours

A visit to various government hospitals shows that the agony and pain of patients does not move the medical and paramedical staff and they remain unattended for hours. A pathetic situation was witnessed here on Thursday morning at a local hospital where a
Published 11 Feb, 2011 12:00am
Sister of chief minister Sindh passes away

Sister of chief minister Sindh passes away

The sister of Sindh Chief Minister, Syed Qaim Ali Shah, passed away in Khairpur on Thursday after a protracted illness. An official of the Chief Minister House here said that Syed Qaim Ali Shah has cancelled all his official engagements. He further stated
Published 11 Feb, 2011 12:00am
Seminar on founding day of APWA held

Seminar on founding day of APWA held

The economic stability, legal protection and more importantly role in the society are the major problems faced by the women in present era. This was the consensus of the speakers who spoke at a seminar in connection with Founding Day of All Pakistan Women
Published 11 Feb, 2011 12:00am
Challenges for Gilani

Challenges for Gilani

What little has leaked out of the in-camera 'Last Supper' meeting of the federal cabinet, it appears the said session was held in an ambience of doom and gloom. A tearful Prime Minister Gilani is said to have bid farewell to his dearer-than-life colleague
Published 11 Feb, 2011 12:00am
Kidnapping is now a lucrative business

Kidnapping is now a lucrative business

Like elsewhere in the world, in Pakistan also the ongoing insurgency tends to breed the curse of kidnapping, and more often of the innocent than marked targets. It is a potent weapon of war in the armoury of the insurgents and is being used quite frequent
Published 11 Feb, 2011 12:00am
Who will judge the judges?

Who will judge the judges?

The process of accountability must start from those who judge and adjudge others. Any process of accountability that lacks confidence, transparency and consensus is bound to fail, even bounce back. For sustainable democracy, accountability of one and all
Published 11 Feb, 2011 12:00am
Egyptian state-run support for Mubarak cools

Egyptian state-run support for Mubarak cools

A noticeable change in the coverage by Egyptian state-run media of the country's ongoing protests - no longer limited to one-sided, pro-government reports - is another sign that President Hosni Mubarak's government is trying to regain the lost trust of th
Published 11 Feb, 2011 12:00am
Culture of corruption sparks Austria's creative minds

Culture of corruption sparks Austria's creative minds

When wiretap transcripts from an ongoing corruption probe turn up on an underwear collection and in comedy performances, it is a sign that Austrians are fed up. Ordinary citizens and artists are directing their mockery against former finance minister Karl
Published 11 Feb, 2011 12:00am
Well done Sindh govt

Well done Sindh govt

The recent decision taken by the Sindh government to scale back its cabinet is really significant and praiseworthy. There was no doubt that those removed were doing considerable amount of job and were chosen on merit. But it was a unanimous decision taken
Published 11 Feb, 2011 12:00am
Fourth British lawmaker guilty of fiddling expenses

Fourth British lawmaker guilty of fiddling expenses

A court on Thursday found an ex-member of the British parliament guilty of making false expenses claims, the fourth lawmaker to be convicted in the scandal over allowances. Jim Devine, of the main opposition Labour party, was found guilty after a trial at
Published 11 Feb, 2011 12:00am
US city considers inviting Guantanamo detainees

US city considers inviting Guantanamo detainees

Officials in Berkeley, California, are considering inviting Guantanamo detainees to live in the city. The City Council is scheduled to vote next week on a resolution that would extend a formal invitation to any detainees at the US naval base who have been
Published 11 Feb, 2011 12:00am
US Senators urge military radar on Canada border

US Senators urge military radar on Canada border

Six US senators from states that border Canada called Thursday for the deployment of military radars against low-flying aircraft used to smuggle illegal drugs into the United States. The lawmakers said in a letter to US Defence Secretary Robert Gates and
Published 11 Feb, 2011 12:00am
Saudi activists found first political party

Saudi activists found first political party

Despite a ban on political parties, nine activists in ultra-conservative Saudi Arabia have announced the formation of the first party there, aiming to forward political reform, their website says. The activists have issued a founding statement for the "Is
Published 11 Feb, 2011 12:00am
WikiLeaks crippled by former associates

WikiLeaks crippled by former associates

WikiLeaks' ability to receive new leaks has been crippled after a disaffected programmer unplugged a component which guaranteed anonymity to would-be leakers, activists and journalists who have worked with the site say. Details of the breakdown are contai
Published 11 Feb, 2011 12:00am
Indian doctor jailed for insurgency denied bail

Indian doctor jailed for insurgency denied bail

An Indian court on Thursday refused bail to a doctor sentenced to life in prison on charges of helping Maoist insurgents, in a case that has drawn international condemnation. Binayak Sen, a paediatrician and activist, was jailed for life in December after
Published 11 Feb, 2011 12:00am
Congressman resigns after shirtless photo story

Congressman resigns after shirtless photo story

A married upstate New York congressman accused of sending a shirtless photo of himself to a woman abruptly resigned Wednesday, saying he regretted actions that had hurt his family and others. The gossip website Gawker reported Wednesday that Rep. Christop
Published 11 Feb, 2011 12:00am
Saudi king in excellent shape

Saudi king in excellent shape

Saudi Arabia's King Abdullah bin Abdul-Aziz is alive and in "excellent shape", the Saudi foreign minister said on Thursday after rumours about the king's health triggered a spike in the price of oil. Abdullah, around 87, has been resting in Morocco since
Published 11 Feb, 2011 12:00am
Six dead as plane crashes in fog at Ireland airport

Six dead as plane crashes in fog at Ireland airport

A commuter plane crashed and burst into flames, killing six people and injuring another six Thursday, as it tried to land in heavy fog at Cork airport in Ireland, officials said. The turboprop aircraft travelling from Belfast in Northern Ireland with 12 p
Published 11 Feb, 2011 12:00am
US intelligence director calls al Qaeda top threat

US intelligence director calls al Qaeda top threat

Amid criticism that intelligence services missed the signs of Arab revolt in Tunisia and Egypt, the nation's top intelligence official will tell Congress that the threat from al Qaeda and its affiliates remains his No 1 priority, US officials said.
Published 11 Feb, 2011 12:00am
Iran claims 'nuclear fusion mastered'

Iran claims 'nuclear fusion mastered'

Iran's atomic body claimed on Thursday it has mastered the technology of nuclear fusion, in a declaration on the eve of the 32nd anniversary of the Islamic revolution. "By the method of inertial confinement lasers, significant research has been successful
Published 11 Feb, 2011 12:00am
Pennsylvania gas explosion kills three

Pennsylvania gas explosion kills three

A natural gas explosion left three dead and two people missing in the Pennsylvania city of Allentown, emergency services officials said Wednesday. The explosion late Tuesday destroyed two connected homes, said Captain George Medero of the Allentown Police
Published 11 Feb, 2011 12:00am
Hezbollah-linked bank money launderer: US

Hezbollah-linked bank money launderer: US

The US Treasury Department on Thursday accused a Beirut-based bank of involvement in an international money-laundering and drug-trafficking operation with ties to the Lebanese group Hezbollah. The Treasury officially designated Lebanese Canadian Bank as a
Published 11 Feb, 2011 12:00am
Osama's cook to be repatriated to Sudan

Osama's cook to be repatriated to Sudan

Osama Bin Laden's former cook, serving a 14-year prison term at the US detention center at Guantanamo Bay, will be returned to his native Sudan under an agreement with the Pentagon kept secret until now, court documents showed. Ibrahim al-Qosi was the fir
Published 11 Feb, 2011 12:00am
Too much aid spent to back military aims: Oxfam

Too much aid spent to back military aims: Oxfam

Major powers are concentrating too much aid on countries for political and military reasons and overlooking other severe crises, the nonprofit group Oxfam said Thursday. The aid organisation said billions of dollars have been used for "unsustainable, expe
Published 11 Feb, 2011 12:00am
Afridi wants to meet India in final

Afridi wants to meet India in final

Pakistan captain Shahid Afridi said Thursday he hoped to meet India in the World Cup final, saying the match would boost international cricket and draw billions of viewers. "There is a possibility that Pakistan and India play the final of the World Cup an
Published 11 Feb, 2011 12:00am
World Cup warm-ups shifted from Pallekele

World Cup warm-ups shifted from Pallekele

Heavy monsoon rains have forced the International Cricket Council to move World Cup warm-up matches from Sri Lanka's Pallekele stadium, tournament organisers said Thursday. Sri Lanka has been hit by monsoon downpours since December hampering preparation o
Published 11 Feb, 2011 12:00am
Unheralded Shahid emerges as new Snooker Champion

Unheralded Shahid emerges as new Snooker Champion

Unheralded Muhammad Shahid of Punjab won the 36th NJI National Snooker Championship in style when he handed out an 8-2 drubbing to top seed Imran Shehzad in the final at Karachi Gymkhana Billiards Hall here on Thursday. Lahore-based Imran Shehzad, who had
Published 11 Feb, 2011 12:00am
Pakistan team fully capable to win Cup: Waqar

Pakistan team fully capable to win Cup: Waqar

Pakistan cricket team coach Waqar Younis has posed confidence on the potential of Pakistan cricket team to win a mega event of World Cup 2011, starting from February 19 in South Asia. "The team morale is high and I am confident to play semi-final of upcom
Published 11 Feb, 2011 12:00am
England Test great Bailey dies in house fire

England Test great Bailey dies in house fire

Former England all-rounder Trevor Bailey has died in a house fire, the England and Wales Cricket Board confirmed Thursday. Bailey, 87, who played 61 Tests during a 10-year international career, died early Thursday in a fire at his home, the ECB said in a
Published 11 Feb, 2011 12:00am
Messi scores winner as Argentina beat Portugal

Messi scores winner as Argentina beat Portugal

Lionel Messi won his personal duel with his great rival Cristiano Ronaldo lighting up Argentina's 2-1 win over Portugal by making one goal and scoring the winner in a lively friendly international in Geneva on Wednesday. Messi, FIFA's World Player of the
Published 11 Feb, 2011 12:00am
Hussey 'shocked' to be left behind

Hussey 'shocked' to be left behind

Mike Hussey said he was shocked and disappointed to be left behind as Australia's squad left for the World Cup, reports said on Thursday. Australia's best ranked one-day batsman failed to convince selectors that he was fit to play in the tournament on the
Published 11 Feb, 2011 12:00am
India can cope with pressure, says Dhoni

India can cope with pressure, says Dhoni

India captain Mahendra Singh Dhoni said Thursday his team is well-equipped to handle the pressure of playing in a World Cup in front of home crowds. India, champions in 1983, disappointed millions of their fans four years ago when they were knocked out in
Published 11 Feb, 2011 12:00am
All Pakistan DHA Cup Open Golf Championship begins

All Pakistan DHA Cup Open Golf Championship begins

The second All Pakistan DHA Karachi Cup Open Golf Championship 2011 opened here on Thursday at the greens of Defence Authority Country and Golf Club. The one million prized coveted tournament is being held from 10 to 13 February 2011 in which a large numb
Published 11 Feb, 2011 12:00am
Fauji Cement Bridge Championship starts

Fauji Cement Bridge Championship starts

The 2nd All Pakistan Fauji Cement Bridge Championship endorsed by Munir Associates, Apex and Biz Nest will commence at the famed bridge tables of Lahore Gymkhana from Friday (today). The event will last till February 13. It will be a battle of wits and co
Published 11 Feb, 2011 12:00am
US MIDDAY: gold recovers

US MIDDAY: gold recovers

Gold edged higher on Thursday as speculation Egyptian President Hosni Mubarak was to step down imminently arrested early losses in the metal, but prices remained under pressure from the firmer dollar and sharper risk appetite. Spot gold was bid at $1,364.
Published 11 Feb, 2011 12:00am
US MIDDAY: copper bounces

US MIDDAY: copper bounces

Copper bounced to a firmer finish on Thursday, as chart-based buyers returned to the market following a three-day phase of consolidation that saw prices fall further away from record levels. Copper has surrendered more than 3 percent of its value since hi
Published 11 Feb, 2011 12:00am
US MIDDAY: corn hits 31-month top

US MIDDAY: corn hits 31-month top

Corn future rose to a 31-month high at the Chicago Board of Trade on Thursday, supported by strong export sales and continued momentum from the US Agriculture Department's forecast for a 15-year low in ending stocks, traders said. Wheat futures fell in ea
Published 11 Feb, 2011 12:00am
US MIDDAY: cocoa jumps

US MIDDAY: cocoa jumps

US cocoa futures jumped on Thursday to a one-year high on fears that top grower Ivory Coast may extend its month-long cocoa export ban, analysts said. Sugar surged and arabica coffee rumbled to near a 14-year peak as tight supplies in both markets boosted
Published 11 Feb, 2011 12:00am
Gold falls below $1,360

Gold falls below $1,360

Gold fell below $1,360 an ounce on Thursday after upbeat US jobs data reinforced investor optimism over the outlook for growth and eroded some appetite for perceived safe-havens. The dollar rallied after US government data showed new claims for unemployme
Published 11 Feb, 2011 12:00am
Gold lower in Asia

Gold lower in Asia

Gold edged down on Thursday after holdings on the main ETF slipped again, but a weaker dollar could stir up trade after comments by Federal Reserve Chairman Ben Bernanke indicated the central bank was in no rush to raise interest rates. Spot gold lost $2.
Published 11 Feb, 2011 12:00am
US gold little changed

US gold little changed

Gold was little changed on Wednesday as the market was underpinned by a dollar drop and Federal Reserve Chairman Ben Bernanke's comment that he had no plans to scrap a massive bond-buying program, indicating interest rates will not rise any time soon. Gol
Published 11 Feb, 2011 12:00am
Liffe cocoa, coffee and sugar up

Liffe cocoa, coffee and sugar up

Liffe May cocoa climbs 42 pounds to end at 2,176 pounds a tonne on Thursday after rising to its highest in two weeks. London markets track ICE cocoa, which hit a one-year peak as investors covered short positions after the March/May spread tightened. Liff
Published 11 Feb, 2011 12:00am
New York coffee rallies to 13-1/2 year high

New York coffee rallies to 13-1/2 year high

Arabica coffee galloped Wednesday to a 13-1/2 year high on tight supplies of high quality beans which may persist into the next crop season, analysts said. Sugar extended its losing streak although it seemed to be consolidating while cocoa was steadier in
Published 11 Feb, 2011 12:00am
Malaysian palm oil off three-year high

Malaysian palm oil off three-year high

Malaysian palm oil futures ended off three-year highs hit earlier on Thursday as traders booked some profits after a slew of industry data showed tight vegetable oil supplies at a time when demand has picked up. Industry regulator Malaysian Palm Oil Board
Published 11 Feb, 2011 12:00am
US soyabeans climb

US soyabeans climb

Soyabean futures on the Chicago Board of Trade set a new 2-1/2 year high on Wednesday, buoyed by bullish momentum following the release of the US Department of Agriculture's February supply and demand report. The USDA estimated ending stocks for soyabeans
Published 11 Feb, 2011 12:00am
Tokyo futures hit new high

Tokyo futures hit new high

Tokyo rubber futures jumped to a new record on Thursday, on the back of speculative buying due to concerns of tight supply and firmer oil prices. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 9.9 yen to settle at 513
Published 11 Feb, 2011 12:00am
Brent crude falls

Brent crude falls

Brent crude prices fell on Thursday on news beleaguered President Hosni Mubarak of Egypt may step down later in the day as investors struggled to digest the day's flow of geopolitical and fundamental issues. US crude oil futures found support early from d
Published 11 Feb, 2011 12:00am
Copper moves up

Copper moves up

Copper edged up on Thursday, bouncing from earlier losses as the dollar pared gains versus the euro, but with prices losing a grip of this week's record high. The market kept a keen eye on the demand outlook in China, after an interest-rate hike in the to
Published 11 Feb, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

London copper edged higher on Thursday, keeping physical demand in Asia in check with no sign of a Chinese re-stocking spree following the Lunar New Year holiday. The most active futures in Shanghai also rose half a percent to 75,880 yuan.
Published 11 Feb, 2011 12:00am
US copper ends down

US copper ends down

Copper ended down after falling to its lowest level in over one week on Wednesday, as prices continued to back away from records hit earlier this week amid concerns about high inflation and tepid demand in China.
Published 11 Feb, 2011 12:00am
New York cotton soars to fresh 150-year top, $2 in sight

New York cotton soars to fresh 150-year top, $2 in sight

US cotton futures charged to a fresh 150-year top on Thursday on combined fund and speculative buying and the market seemed poised to hit $2 a lb in the days ahead, analysts said. The key March cotton contract on ICE Futures US rose the 7-cent daily limit
Published 11 Feb, 2011 12:00am
US jobless claims data boosts labour market outlook

US jobless claims data boosts labour market outlook

New US applications for unemployment benefits dropped to a 2-1/2-year low last week, pointing to a stronger footing for the labour market as the economic recovery gathers momentum. The fall in claims reported by the Labour Department on Thursday partly re
Published 11 Feb, 2011 12:00am
Budget gap widens to near $50 billion

Budget gap widens to near $50 billion

The US January budget deficit widened to $49.80 billion, the second-largest deficit on record for the month, a government report underscoring the sea of US government red ink showed on Thursday. The deficit for the fiscal year to date narrowed to $419 bil
Published 11 Feb, 2011 12:00am
South Korea, US sign revised free trade deal

South Korea, US sign revised free trade deal

South Korea and the United States have signed a revised free trade deal, paving the way for ratification by legislators in both countries, trade officials said Thursday. The two sides signed a sweeping agreement more than three years ago but delays in rat
Published 11 Feb, 2011 12:00am
IMF chief urges overhaul of global monetary system

IMF chief urges overhaul of global monetary system

International Monetary Fund chief Dominique Strauss-Kahn on Thursday called for a greater role for China's yuan currency as part of a broad-based overhaul of the international monetary system. In a speech at the IMF Strauss-Kahn said adding emerging marke
Published 11 Feb, 2011 12:00am
Japan core machinery orders up

Japan core machinery orders up

Japan's core machinery orders rose for the first time in four months in December and firms forecast an increase in orders for the first quarter, boding well for capital spending as the economy emerges from a lull. But the 1.7 percent rise in December core
Published 11 Feb, 2011 12:00am
PepsiCo cuts growth goal; shares fall

PepsiCo cuts growth goal; shares fall

PepsiCo Inc cut its full-year earnings growth target on Thursday, citing higher commodity costs, a difficult economy and investments in emerging markets. The results come a day after rival Coca-Cola Co surprised the market with sales volume increases in a
Published 11 Feb, 2011 12:00am
PepsiCo cuts growth goal; shares fall

PepsiCo cuts growth goal; shares fall

PepsiCo Inc cut its full-year earnings growth target on Thursday, citing higher commodity costs, a difficult economy and investments in emerging markets. The results come a day after rival Coca-Cola Co surprised the market with sales volume increases in a
Published 11 Feb, 2011 12:00am
Zuma calls for jobs, private sector help

Zuma calls for jobs, private sector help

South African President Jacob Zuma called on the government and private sector to create jobs, setting aside billions of dollars to create work in Africa's largest economy, hard-hit by chronic unemployment. "We urge every sector and every business entity,
Published 11 Feb, 2011 12:00am
BoE keeps key rate at record low 0.5 percent

BoE keeps key rate at record low 0.5 percent

The Bank of England defied critics and kept interest rates at a record low on Thursday, judging the threat from rising inflation will prove temporary and that Britain's recovery remains in doubt. Inflation has jumped to almost twice the BoE's target and i
Published 11 Feb, 2011 12:00am
Gazprom reports higher earnings

Gazprom reports higher earnings

The world's largest gas firm Gazprom reported a 40 percent rise in nine-month profits whose impact was muted by a sharp drop in third quarter earnings that were attributed to higher costs. The Russian monopoly said in a statement that its net profits for
Published 11 Feb, 2011 12:00am
Gazprom reports higher earnings

Gazprom reports higher earnings

The world's largest gas firm Gazprom reported a 40 percent rise in nine-month profits whose impact was muted by a sharp drop in third quarter earnings that were attributed to higher costs. The Russian monopoly said in a statement that its net profits for
Published 11 Feb, 2011 12:00am
Oil demand to hit record, Opec boosts output: IEA

Oil demand to hit record, Opec boosts output: IEA

Rising Opec production and comfortable oil stocks in developed nations should limit a further oil price spike despite demand hitting an all-time high later this year, the West's energy watchdog said on Thursday.
Published 11 Feb, 2011 12:00am
PetroChina pays $5.4 billion for Canadian gas assets

PetroChina pays $5.4 billion for Canadian gas assets

PetroChina is purchasing half of a prolific shale gas project from Canada's Encana Corp for C$5.4 billion ($5.4 billion), marking the largest Chinese investment yet in a foreign natural gas asset. Chinese companies such as PetroChina and CNOOC have been s
Published 11 Feb, 2011 12:00am
Renault aims to double operating margin in 2013

Renault aims to double operating margin in 2013

Renault is aiming to nearly double operating margin to more than 5 percent of sales in 2013, as part of a new growth plan that targets Brazil and Russia as key markets. The French carmaker, partnered with Japan's Nissan, said on Thursday it wanted to sell
Published 11 Feb, 2011 12:00am
Renault aims to double operating margin in 2013

Renault aims to double operating margin in 2013

Renault is aiming to nearly double operating margin to more than 5 percent of sales in 2013, as part of a new growth plan that targets Brazil and Russia as key markets. The French carmaker, partnered with Japan's Nissan, said on Thursday it wanted to sell
Published 11 Feb, 2011 12:00am
Yuan rises versus dollar

Yuan rises versus dollar

The yuan closed higher against the dollar on Thursday after the People's Bank of China set another record high daily fixing amid renewed pressure from US lawmakers for Beijing to unshackle its currency. The central bank appeared to send a strong signal to
Published 11 Feb, 2011 12:00am
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