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Archive - 2011-02-28
SSGC pursuing LPG project
Top News

SSGC pursuing LPG project

KARACHI: SSGC, which has reported a net profit of Rs 2,113 million for the half year ended December 31, 2010, is activel
Published 28 Feb, 2011 06:52pm
Several houses collapse in Chaghi
Top News

Several houses collapse in Chaghi

CHAGHI: Several mud-houses collapsed in two different localities of Chagi on Monday after the torrential rain hit the di
Published 28 Feb, 2011 05:37pm
Tunisian Industry minister quits
Top News

Tunisian Industry minister quits

TUNIS: Tunisian Industry and Technology Minister Mohamed Afif Chelbi, one of only two ministers remaining from the gov
Published 28 Feb, 2011 05:13pm
Greece's OTE to cut costs, jobs
Top News

Greece's OTE to cut costs, jobs

ATHENS: Greece's biggest telecoms company OTE on Monday announced cost cuts to help stem a slide in profits. The cuts w
Published 28 Feb, 2011 04:59pm
Canada's economy grew 3.3pc last quarter
Top News

Canada's economy grew 3.3pc last quarter

OTTAWA: Canada's economy surged at the end of 2010, with growth of 3.3 percent in the fourth quarter from a year earlier
Published 28 Feb, 2011 03:13pm
Japan, China agree to patch up ties
Top News

Japan, China agree to patch up ties

TOKYO: Japan and China agreed Monday to improve ties which were strained to breaking point over maritime collisions near
Published 28 Feb, 2011 01:49pm
Copper rises on Chile quake
World

Copper rises on Chile quake

LONDON: Copper rose on Monday, extending a rally on Friday, after an earthquake struck top producer Chile and the doll
Published 28 Feb, 2011 01:42pm
Peshawar Court rejects bail for US man
Top News

Peshawar Court rejects bail for US man

PESHAWAR: Peshawar court on Monday rejected the bail application of an American said to have been working for a privat
Published 28 Feb, 2011 09:13am
Oman protesters maintain road blocks
Top News

Oman protesters maintain road blocks

SOHAR: Protesters demanding jobs and reform remained on the streets of Oman Monday, a day after police killed at least t
Published 28 Feb, 2011 07:07am
Circular debt menace
BR Research

Circular debt menace

After staying on the sidelines for a brief while, the circular debt is back in the news. The finance ministry, on the directives of the Prim
Published 28 Feb, 2011 12:00am
Treasury auctions sounding good
BR Research

Treasury auctions sounding good

Investor behaviour in treasury auctions is a usual indicator of future economic and market direction. However, treasury auctions become more
Published 28 Feb, 2011 12:00am
Stronger yuan likely and the dollar may suffer

Stronger yuan likely and the dollar may suffer

If China uses a stronger yuan to offset inflation pressure, this could also work as the spur for much broader weakness for the dollar. A stronger yuan should spill over into general strength for Asian currencies, and weakness for dollar/Asia as a whole sh
Published 28 Feb, 2011 12:00am
British investors wary on Libya, look to bank results

British investors wary on Libya, look to bank results

Stocks next week face an uncertain time as investors try to focus on the basics of the economy and earnings while keeping a wary eye on developments in Libya and the Middle East. After an easing of tensions on Friday allowed for some profit-taking in oil
Published 28 Feb, 2011 12:00am
Gatehouse plans $97 million sukuk

Gatehouse plans $97 million sukuk

Gatehouse Bank, a London-based sharia compliant investment bank, plans to bring a 60 million pound ($96.77 million) Islamic bond to market by the end of the first quarter, its chhief executive said on Sunday Richard Thomas, speaking on the sidelines of an
Published 28 Feb, 2011 12:00am
Nasdaq bid for NYSE would hit antitrust stumble

Nasdaq bid for NYSE would hit antitrust stumble

US antitrust regulators will give a hard look at any attempt by Nasdaq OMX Group Inc to acquire NYSE Euronext, experts said, with some predicting a prolonged review or "serious" snags. The Nasdaq Stock Market parent is mulling a rival bid for the operator
Published 28 Feb, 2011 12:00am
Britain threatens to quit UN food agency

Britain threatens to quit UN food agency

Britain said on Saturday it could leave one of the United Nations' agencies fighting hunger unless it improves its "patchy" performance. The threat to pull out of the Food and Agriculture Organisation (FAO) follows a review of British overseas aid ordered
Published 28 Feb, 2011 12:00am
BP in claim for UK taxes paid 'by mistake'

BP in claim for UK taxes paid 'by mistake'

BP Plc is claiming nearly 300 million pounds ($483.6 million) plus compensation from the UK government for taxes it paid "by mistake" more than a decade ago, the Sunday Telegraph reported. The UK energy giant claimed that HM Revenue and Customs (HMRC) "wr
Published 28 Feb, 2011 12:00am
Swiss government should act on US tax threat

Swiss government should act on US tax threat

The Swiss government should take action to prevent a crackdown of US tax authorities on Switzerland's second-largest bank Credit Suisse, Swiss private banker Konrad Hummler said in a newspaper interview.
Published 28 Feb, 2011 12:00am
King Abdullah orders more state jobs

King Abdullah orders more state jobs

Saudi Arabia's King Abdullah has ordered that state employees on temporary labour contracts be given permanent jobs, in another apparent bid to insulate the kingdom from a wave of protests in the Arab world.
Published 28 Feb, 2011 12:00am
Saudi Arabia to use reserves for handouts

Saudi Arabia to use reserves for handouts

Top Opec oil exporter Saudi Arabia will draw on its reserves to help fund government handouts unveiled by King Abdullah last week to address social pressures, its finance minister said on Sunday.
Published 28 Feb, 2011 12:00am
Opec needs clarity before able to act: Iran

Opec needs clarity before able to act: Iran

Opec cannot take effective steps to calm volatile markets without more clarity on the implications of regional instability for supply, Iran's Opec governor said on Sunday, adding the market had enough oil. Fellow Opec member Qatar also said on Sunday ther
Published 28 Feb, 2011 12:00am
Dubai support fund may need up to $2.4 billion: JP Morgan

Dubai support fund may need up to $2.4 billion: JP Morgan

A government fund set up to help debt-ridden state-linked firms will need to be "topped-up" by as much as $2.4 billion over the next two years, JP Morgan said in a note, with several looming repayment deadlines at Dubai Inc. The US investment bank said th
Published 28 Feb, 2011 12:00am
Dubai support fund may need up to $2.4 billion: JP Morgan

Dubai support fund may need up to $2.4 billion: JP Morgan

A government fund set up to help debt-ridden state-linked firms will need to be "topped-up" by as much as $2.4 billion over the next two years, JP Morgan said in a note, with several looming repayment deadlines at Dubai Inc. The US investment bank said th
Published 28 Feb, 2011 12:00am
US states fear budget cuts, shutdown threats

US states fear budget cuts, shutdown threats

Governors of US states see a new threat to their fragile budget and economic situations: the federal government. On Saturday, governors from across the country warned that federal budget cuts and a government shutdown could hurt states' slow economic reco
Published 28 Feb, 2011 12:00am
Daimler, Renault extend electric cars deal

Daimler, Renault extend electric cars deal

Renault and Daimler have reached a new deal under which the former will develop electric motors for the Smart and Twingo brands, while the latter will supply batteries, a German paper reported. "By doing this we will immediately be able to boost sales," D
Published 28 Feb, 2011 12:00am
India to unveil budget today

India to unveil budget today

India's embattled Congress-led government will seek this week to defuse the anger of inflation-hit voters with a raft of subsidies in a populist budget that stops short of major reforms, analysts say. The spending plans, to be unveiled Monday by finance m
Published 28 Feb, 2011 12:00am
China's Wen puts social stability at heart of economy

China's Wen puts social stability at heart of economy

Fighting inflation is a priority for China and the government must ward off threats to social stability stemming from rapid price increases and pressure to raise the value of the yuan, Premier Wen Jiabao said on Sunday.
Published 28 Feb, 2011 12:00am
UAE central bank acts to curb personal loans, fees

UAE central bank acts to curb personal loans, fees

The United Arab Emirates central bank has introduced new rules to limit loans to individuals and bank service charges in the Gulf Arab OPEC member, it said in a statement on Sunday. The UAE monetary authority said earlier this month that it would come up
Published 28 Feb, 2011 12:00am
UAE January inflation edges lower, food costs drop

UAE January inflation edges lower, food costs drop

Inflation in the United Arab Emirates fell to 1.6 percent on an annual basis in January and an unexpected drop in food costs helped to push consumer prices into a second monthly decline in a row, data showed on Sunday.
Published 28 Feb, 2011 12:00am
China orders strict execution of property measures

China orders strict execution of property measures

China has ordered local authorities to implement existing property tightening measures or face punishment, the official Xinhua news agency said on Sunday, reflecting Beijing's resolve to tame sky-high property prices. China will also quicken the pace of i
Published 28 Feb, 2011 12:00am
Taiwan to relax China high-tech investment limits

Taiwan to relax China high-tech investment limits

Taiwan is to relax controls on investments from mainland China in the island's high-tech companies, a senior economic official said Sunday. The move is yet another sign of fast-warming ties with Beijing. According to the state Central News Agency, Chinese
Published 28 Feb, 2011 12:00am
India and England tie after Tendulkar, Strauss tons

India and England tie after Tendulkar, Strauss tons

Sachin Tendulkar and Andrew Strauss both smashed centuries as India and England fought out a dramatic run-laden, last-ball tie in a rollercoaster World Cup clash on Sunday. Tendulkar carved his name into the record books when he became the first man to ma
Published 28 Feb, 2011 12:00am
India and England tie after Tendulkar, Strauss tons

India and England tie after Tendulkar, Strauss tons

Sachin Tendulkar and Andrew Strauss both smashed centuries as India and England fought out a dramatic run-laden, last-ball tie in a rollercoaster World Cup clash on Sunday. Tendulkar carved his name into the record books when he became the first man to ma
Published 28 Feb, 2011 12:00am
West Ham beat Liverpool to climb off the bottom

West Ham beat Liverpool to climb off the bottom

West Ham United climbed off the bottom of the Premier League with an uplifting and well-deserved 3-1 home win over Liverpool on Sunday. In the day's other game Manchester City were held 1-1 at home by Fulham as former City manager Mark Hughes enjoyed a sa
Published 28 Feb, 2011 12:00am
Asian Soccer Cup: 'Palestinian team has full potential to qualify'

Asian Soccer Cup: 'Palestinian team has full potential to qualify'

Palestinian National Soccer team coach Moussa Bezaz Sunday expressed optimism that Palestinian team has full potential to qualify for the Asian Cup. Talking to reporters here at FIFA Football House, he said: "Since official football in Palestine is only 1
Published 28 Feb, 2011 12:00am
Sri Lankan fans slam team

Sri Lankan fans slam team

Disappointed Sri Lankan fans criticised their team after they slipped to a World Cup defeat against Pakistan - even though they only lost by 11 runs and have every chance of reaching the quarter-finals. Despite high hopes coming into the match, 1996 champ
Published 28 Feb, 2011 12:00am
Jayawardene wary of Kenya nightmare repeat

Jayawardene wary of Kenya nightmare repeat

Sri Lanka's Mahela Jayawardene admitted on Sunday that Kenya, who defeated his team in a stunning 2003 World Cup triumph, still have players to cause another shock when the two meet on Tuesday. Eight years ago, Sri Lanka lost by 53 runs to Kenya in Nairob
Published 28 Feb, 2011 12:00am
Afridi hails morale booster for Pakistan

Afridi hails morale booster for Pakistan

Jubilant skipper Shahid Afridi hailed Pakistan's impressive World Cup win over one-day powerhouse Sri Lanka as a huge boost for his team but demanded an improvement in fielding standards. Pakistan beat Sri Lanka by 11 runs on Saturday before a capacity 35
Published 28 Feb, 2011 12:00am
Rashid Latif fears World Cup format encourages fixing

Rashid Latif fears World Cup format encourages fixing

Rashid Latif, the former Pakistan captain who blew the whistle on cricket corruption eight years ago, fears that the current World Cup format encourages fixing. Latif said that the 14-team line-up at the Feb 19-April 2 event in the subcontinent in which s
Published 28 Feb, 2011 12:00am
Bangladesh's factories close for World Cup

Bangladesh's factories close for World Cup

Bangladesh garment export firms on Sunday protested against government orders to shut down factories during the cricket World Cup, saying the move would affect the country's economy. Garment factories have been instructed to close for six hours every even
Published 28 Feb, 2011 12:00am
Pakistan fined for slow over rate

Pakistan fined for slow over rate

Pakistan captain Shahid Afridi has been fined 20 percent of his match fee and his team mates will lose 10 percent for their slow over rate in Saturday's 11-run win against Sri Lanka, the ICC said on Sunday. Match referee Chris Broad imposed the fine after
Published 28 Feb, 2011 12:00am
Imran wants Younis, Misbah to bat at 3-4 spots

Imran wants Younis, Misbah to bat at 3-4 spots

The former Pakistan Captain Imran Khan believed that experienced batting duo of Younis Khan and Misbah-ul-Haq should bat at number three and four spots in ongoing Cricket World Cup (CWC) which would be more fruitful and benefiting.
Published 28 Feb, 2011 12:00am
We need ICC help to rescue our game: Kenya

We need ICC help to rescue our game: Kenya

Kenya's dismal performance in the World Cup is down to deep-seated funding and development problems which cricket's governing body needs to help address urgently, Cricket Kenya chief Tom Sears said on Sunday.
Published 28 Feb, 2011 12:00am
SE Asian bourses years away from M&As: Regulator

SE Asian bourses years away from M&As: Regulator

Most of South East Asia's stock exchanges are several years away from getting involved in the global wave of bourse consolidation, the head of Thailand's market regulator said. Exchanges in Malaysia, the Philippines, Singapore, Vietnam, Indonesia and Thai
Published 28 Feb, 2011 12:00am
Wal-Mart's US sales woes deepen

Wal-Mart's US sales woes deepen

Wal-Mart Stores Inc posted its seventh consecutive quarterly drop in sales at existing US stores and said it will take some time to turn around sales in that unit. The world's largest retailer has struggled with pricing as it has lost customers to dollar
Published 28 Feb, 2011 12:00am
Hedge funds rediscovering taste for Japan

Hedge funds rediscovering taste for Japan

Hedge funds are turning attention to Japan once again and are set to attract more capital on expectations a pick-up in corporate activities there like M&A and share buy-backs would yield strong returns. The resurgent interest in Japan could mark a turn in
Published 28 Feb, 2011 12:00am
Hedge funds rediscovering taste for Japan

Hedge funds rediscovering taste for Japan

Hedge funds are turning attention to Japan once again and are set to attract more capital on expectations a pick-up in corporate activities there like M&A and share buy-backs would yield strong returns. The resurgent interest in Japan could mark a turn in
Published 28 Feb, 2011 12:00am
Volkswagen posts record 2010 results

Volkswagen posts record 2010 results

Europe's biggest carmaker, Volkswagen, unveiled record 2010 results on February 25 and said it would do even better this year, sending its shares soaring. VW posted a net profit of 7.2 billion euros ($9.9 billion), a statement said, dwarfing the 2009 figu
Published 28 Feb, 2011 12:00am
Commerzbank rebounds with 2010 profit of 1.43 billion euros

Commerzbank rebounds with 2010 profit of 1.43 billion euros

The second biggest German bank, Commerzbank, marked February 22 a rebound from heavy losses suffered during the global economic crisis as it posted a solid 2010 profit and pledged to start paying back state aid.
Published 28 Feb, 2011 12:00am
Airbus aims to win 20pc of Japan plane orders

Airbus aims to win 20pc of Japan plane orders

Airbus aims to win more than 20 percent of orders for commercial planes in Japan from this year, as it ramps up sales efforts to challenge Boeing's dominance of the country's passenger jet market, a company official said.
Published 28 Feb, 2011 12:00am
RBS slashes annual losses to $1.823 billion

RBS slashes annual losses to $1.823 billion

Britain's state-rescued Royal Bank of Scotland (RBS) said on February 24 that net losses narrowed sharply last year to £1.125 billion pounds (1.327 billion euros, $1.823 billion) as bad debts tumbled. The performance marked a large improvement from net lo
Published 28 Feb, 2011 12:00am
Majority of US Internet users on Facebook: market tracker

Majority of US Internet users on Facebook: market tracker

Figures released on February 24 by Internet tracker eMarketer indicated that more than half of US Internet users log in monthly to Facebook while about 20 million US online adults "tweet." An estimated 57 percent of Internet users, about 132.5 million peo
Published 28 Feb, 2011 12:00am
Artist hides USB sticks as part of mystery work

Artist hides USB sticks as part of mystery work

In times gone by a dead letter box was often used as the location to secretly pass items between two people, without requiring them to meet. With the advent of digital technology, those fond of mystery can now use USB sticks to achieve the same goal, whic
Published 28 Feb, 2011 12:00am
Disney buys family social network Togetherville

Disney buys family social network Togetherville

The Walt Disney Company on February 24 confirmed that it has bought Togetherville, a family-oriented version of online social network Facebook. "The Walt Disney Company has acquired Togetherville, a social online community for families and kids," Disney s
Published 28 Feb, 2011 12:00am
Robot marathon kicks off in Japan

Robot marathon kicks off in Japan

The world's first full-length marathon for two-legged robots kicked off in Japan on February 24, with the toy-sized humanoids were due to run 42.195 kilometres (26 miles) over four days. The machines began the non-stop race on a 100-metre (109-yard) indoo
Published 28 Feb, 2011 12:00am
Apple MacBooks get speedier with Intel technology

Apple MacBooks get speedier with Intel technology

Apple on February 24 unveiled an updated line of MacBook Pro laptop computers featuring new Intel "Thunderbolt" technology for moving digital films and other data "blazingly fast." Apple upgraded the new-model laptops with the latest multi-core chips from
Published 28 Feb, 2011 12:00am
Dell plans China expansion: state media

Dell plans China expansion: state media

US computer giant Dell is planning a massive expansion in China this year, state media said on February 25, in a bid to reverse its declining share of the world's biggest Internet market. The group aims to set up over 1,000 retail centres in China this ye
Published 28 Feb, 2011 12:00am
Cellphone use yields more 'active' brain scan: study

Cellphone use yields more 'active' brain scan: study

Cellphone use appeared to measurably increase brain activity in dozens of test subjects in a new study, though it failed to resolve a debate over whether the devices pose health risks. The study in Wednesday's edition of The Journal of the American Medica
Published 28 Feb, 2011 12:00am
CeBIT trade fair swerves back to consumer role

CeBIT trade fair swerves back to consumer role

The trade fair CeBIT kicks off this week with the big computing expo swerving back to its historic role as a public celebration of all the useful and fun things you do with computers.
Published 28 Feb, 2011 12:00am
South Korea top mobile operator to sell iPhone4

South Korea top mobile operator to sell iPhone4

SK Telecom, South Korea's top mobile operator, will start selling the iPhone next month, a report said on February 24, in a break from Apple's practice of selling the smartphones via a single distributor in each major market. SK Telecom is close to comple
Published 28 Feb, 2011 12:00am
Google-backed startup zaps electricity waste

Google-backed startup zaps electricity waste

A Google-backed startup on February 23 came out of "stealth mode" with a way to dramatically cut the amount of electricity wasted by data centers, solar panels, hybrid cars and more. Transphorm has made a module that can cut by as much as 90 percent the a
Published 28 Feb, 2011 12:00am
Google search formula gets more discerning

Google search formula gets more discerning

Google has changed its secret search formula in the United States to be more discerning when it comes to which websites are worth recommending and which should sink in the rankings.
Published 28 Feb, 2011 12:00am
Google cooks recipes into search menu

Google cooks recipes into search menu

Google on February 24 began cooking recipes into its search menu in a way that lets people easily find instructions for whipping up dishes in the kitchen. A "Recipe View" feature that Google is rolling out in the United States and Japan turns the search e
Published 28 Feb, 2011 12:00am
50 million environmental refugees by 2020

50 million environmental refugees by 2020

Fifty million "environmental refugees" will flood into the global north by 2020, fleeing food shortages sparked by climate change, experts warned at a major science conference thhat ended here on February 21. "In 2020, the UN has projected that we will ha
Published 28 Feb, 2011 12:00am
Dirty air triggers more heart attacks than cocaine

Dirty air triggers more heart attacks than cocaine

Air pollution triggers more heart attacks than using cocaine and poses as high a risk of sparking a heart attack as alcohol, coffee and physical exertion, scientists said on February 24.
Published 28 Feb, 2011 12:00am
Climate change halves Peru glacier

Climate change halves Peru glacier

A glacier on Peru's Huaytapallana Moutain shed half its surface ice in just 23 years, officials said on February 23, reinforcing concerns of climate change's growing threat to fresh water resources.
Published 28 Feb, 2011 12:00am
Sleep loss, home temperature, tied to obesity

Sleep loss, home temperature, tied to obesity

Cooler homes and a better night's sleep might help rein in the current obesity epidemic, according to an Italian study. When researchers led by Simona Bo at the University of Turin in Italy followed more than a thousand middle-aged adults over six years,
Published 28 Feb, 2011 12:00am
Planet could be 'unrecognizable' by 2050: experts

Planet could be 'unrecognizable' by 2050: experts

A growing, more affluent population competing for ever scarcer resources could make for an "unrecognizable" world by 2050, researchers warned at a major US science conference on February 21.
Published 28 Feb, 2011 12:00am
'Beijing air pollution off the charts'

'Beijing air pollution off the charts'

Thick smog blanketing Beijing went "beyond" measurable pollution levels on February 21, the US embassy said, as a Chinese official warned people to stay indoors and avoid outdoor activities. The independent assessment by the embassy said pollution was eit
Published 28 Feb, 2011 12:00am
No link between diabetes, vitamin D: study

No link between diabetes, vitamin D: study

Low levels of vitamin D don't put older women at greater risk for type 2 diabetes, a large study of US women suggests. The findings may further temper the enthusiasm for vitamin D that built up in recent years, as studies linked it to lower risks of every
Published 28 Feb, 2011 12:00am
KESC blames extra loadshedding on erratic gas supply

KESC blames extra loadshedding on erratic gas supply

The Karachi Electric Supply Company has claimed that it has been facing unpredictable fluctuation in gas supply during the past about one week. A press release here on Sunday said that KESC has been increasing and decreasing power generation as per the qu
Published 28 Feb, 2011 12:00am
500-bed hospital set up at Ojha Campus by DUHS

500-bed hospital set up at Ojha Campus by DUHS

A 500-bed hospital has been established by the Dow University of Health Sciences (DUHS) at its Ojha Campus here. The Vice-Chancellor of DUHS, Professor Masood Hameed Khan, performed the inauguration of the facility on Sunday. The hospital has been equippe
Published 28 Feb, 2011 12:00am
Imran flays 'power politics' in Punjab

Imran flays 'power politics' in Punjab

Pakistan Tehreek Insaf (PTI) Chief Imran Khan has flayed power politics in Punjab and termed it against principles. Addressing a press conference here at a local hotel on Sunday, he said that the 10-point agenda of the Pakistan Muslim League (Nawaz) was w
Published 28 Feb, 2011 12:00am
Workshop on post-flood water issues organised

Workshop on post-flood water issues organised

Government should setup a watchdog body, involving civil society representatives to monitor ongoing repairing works of dykes and embankments to avoid any upcoming natural flood calamity to save the lives of a Khnadkot- Kashmore district and should depute
Published 28 Feb, 2011 12:00am
MONEY WEEK: The pitfalls of LSM fallout

MONEY WEEK: The pitfalls of LSM fallout

The large-scale manufacturing sector's continued dismal performance exhibits the inherent weaknesses of economic recovery and overwhelms the scores gained on the external front. However, the spree in commodity prices is spilling over a positive impact on
Published 28 Feb, 2011 12:00am
Canadian missing in Afghanistan, Taliban make claim

Canadian missing in Afghanistan, Taliban make claim

A Canadian man is missing in Afghanistan, Canadian officials said on Sunday, with the Taliban claiming they had captured him in a volatile central province because he was a spy. A spokeswoman for the Department of Foreign Affairs and International Trade i
Published 28 Feb, 2011 12:00am
Indian police kill six Maoists

Indian police kill six Maoists

Indian security forces killed six suspected Maoist guerrillas in a gunfight in the eastern state of Bihar during a search of forests used as a rebel hide-out, police said Sunday. The clash marked the latest violence in an escalating fight between security
Published 28 Feb, 2011 12:00am
Year after Chile quake, president pledges vigilance

Year after Chile quake, president pledges vigilance

Chilean President Sebastian Pinera vowed Saturday to stand by victims of the massive earthquake and tsunami that struck one year ago this weekend, but civic organisations protested the slow reconstruction.
Published 28 Feb, 2011 12:00am
100,000 flee to Libya neighbours in past week: UNHCR

100,000 flee to Libya neighbours in past week: UNHCR

The UN refugee agency said Sunday that close to 100,000 people, mainly foreign migrants, have fled Libya to neighbouring countries by land during the past week of turmoil in the North African nation.
Published 28 Feb, 2011 12:00am
Full house at space station as Discovery docks

Full house at space station as Discovery docks

The US shuttle Discovery docked Saturday for its final visit at the orbiting International Space Station, where all five of the world's participating space agencies now have vehicles or equipment.
Published 28 Feb, 2011 12:00am
New Zealand prays for quake dead

New Zealand prays for quake dead

Grieving New Zealanders mourned Christchurch earthquake victims Sunday as police said the disaster's final death toll was set to reach above 200. The number of confirmed fatalities from Tuesday's 6.3-magnitude quake reached 147 late Sunday but police fear
Published 28 Feb, 2011 12:00am
Spanish tourism gets boost from Arab revolts

Spanish tourism gets boost from Arab revolts

Spain is getting a boost to its hugely important tourist industry as northern European sunseekers shun popular resorts in Egypt and Tunisia because of anti-government uprisings there.
Published 28 Feb, 2011 12:00am
US tweaks China over web-erasing diplomat's name

US tweaks China over web-erasing diplomat's name

The US is tweaking China for its online blocking of the American ambassador's name. Searches for Ambassador Jon Huntsman's name in Chinese on a popular microblogging site called Sina Weibo were met with a message Friday that said results were unavailable
Published 28 Feb, 2011 12:00am
China uses whistles, water, police on protests

China uses whistles, water, police on protests

Large numbers of police and new tactics like shrill whistles and street cleaning trucks squelched overt protests in China for a second Sunday in a row after more calls for peaceful gatherings modeled on recent democratic movements in the Middle East.
Published 28 Feb, 2011 12:00am
Japan rattled over online exam leaks

Japan rattled over online exam leaks

Japan's elite universities have had their entrance exams - the most important hurdle in any Japanese student's life - compromised by efforts to seek online help during the tests, they admitted Sunday.
Published 28 Feb, 2011 12:00am
Malaysia police detain dozens of Indian protesters

Malaysia police detain dozens of Indian protesters

Malay-sian police arrested dozens of ethnic Indians on Sunday in a clampdown on a protest against a high school literature book that was slammed for denigrating the minority community. Police set up roadblocks in the country's biggest city, Kuala Lumpur,
Published 28 Feb, 2011 12:00am
Three soldiers killed in Philippine attack

Three soldiers killed in Philippine attack

Unidentified gunmen attacked a group of Philippine soldiers on a humanitarian mission at the weekend, killing three and wounding four, the military said Sunday. The troops were on their way to a remote village recently hit by a storm in the northern provi
Published 28 Feb, 2011 12:00am
5.2-magnitude quake strikes Japan

5.2-magnitude quake strikes Japan

A moderate 5.2-magnitude earthquake struck Japan on Sunday, geologists said, but there were no immediate reports of damage and no tsunami warning in place. The inland quake hit at a shallow depth 3.8 kilometres (2.4 miles), 54 kms west of Matsumoto in Hon
Published 28 Feb, 2011 12:00am
More powers to the SBP

More powers to the SBP

The Banking Companies (Amendment) Bill, 2010, unanimously passed by the National Assembly on 24th February, 2011 would greatly add to the authority of the State Bank of Pakistan (SBP) so far as its supervision and control of the financial system in the co
Published 28 Feb, 2011 12:00am
Parting of ways

Parting of ways

PML-N chief Mian Nawaz Sharif announced 'parting of ways' with the PPP at a press conference on Friday, saying despite his side's consistent efforts "significant progress" has not been made on his party's 10-point reform agenda. The PPP and the PML-N, he
Published 28 Feb, 2011 12:00am
Raising the political temperature

Raising the political temperature

The decision announced by the PML (N) leader Nawaz Sharif to dismiss the seven PPP ministers from the Punjab Cabinet, who continuously complained of lack of any powers in the administration of their ministries, has raised the political temperature to boil
Published 28 Feb, 2011 12:00am
Lack of protests in Syria blamed on internet crackdown

Lack of protests in Syria blamed on internet crackdown

While much of the Arab world continues to see thousands of people taking to the streets with calls for political change, a "Day of Rage" planned in Syria this month drew only a few dozen protesters. Hundreds of Syrians did later demonstrate, but to demand
Published 28 Feb, 2011 12:00am
Tense calm in Tripoli as residents seek cash, food

Tense calm in Tripoli as residents seek cash, food

People stood in long queues outside banks in the Libyan capital Tripoli on Sunday when many branches re-opened during a day of relative calm in the city. "I came to access my monthly paycheck, but the queue is too long," said one man as he stood outside o
Published 28 Feb, 2011 12:00am
The ultimate solution for load-shedding

The ultimate solution for load-shedding

It was encouraging to read the Business Recorder editorial "Harnessing Wind Power" in the issue of February 22nd, 2011. It is stated, quoting sources in the AEDB, that Pakistan can generate 350,000 MW electric power by using wind turbines. Also the potent
Published 28 Feb, 2011 12:00am
Zardari and Saudi Prince discuss regional situation

Zardari and Saudi Prince discuss regional situation

President Asif Ali Zardari and Saudi Second Deputy Prime Minister Prince Nayef bin Abdulaziz Al-Saud met here on Saturday night and discussed Pak-Saudi bilateral relations and regional situation. The late-night meeting was held between the two leaders at
Published 28 Feb, 2011 12:00am
Zardari and Saudi Prince discuss regional situation

Zardari and Saudi Prince discuss regional situation

President Asif Ali Zardari and Saudi Second Deputy Prime Minister Prince Nayef bin Abdulaziz Al-Saud met here on Saturday night and discussed Pak-Saudi bilateral relations and regional situation. The late-night meeting was held between the two leaders at
Published 28 Feb, 2011 12:00am
D&SJ, civil judge Sibi kidnapped

D&SJ, civil judge Sibi kidnapped

District and Session Judge Sibi and Civil Judge Sibi went missing while coming to Sibi form Usta Muhammad. Their vehicle, cell phone were found near Dera Murad Jamali. According to details, District and Session Judge Sibi Jan Muhammad Gohar and Civil Judg
Published 28 Feb, 2011 12:00am
D&SJ, civil judge Sibi kidnapped

D&SJ, civil judge Sibi kidnapped

District and Session Judge Sibi and Civil Judge Sibi went missing while coming to Sibi form Usta Muhammad. Their vehicle, cell phone were found near Dera Murad Jamali. According to details, District and Session Judge Sibi Jan Muhammad Gohar and Civil Judg
Published 28 Feb, 2011 12:00am
'Iranian opposition leaders abducted'

'Iranian opposition leaders abducted'

An international human rights group said Sunday that the two main Iranian opposition leaders and their wives are in grave danger after security forces apparently abducted them from their homes, where they were under house arrest.
Published 28 Feb, 2011 12:00am
'Iranian opposition leaders abducted'

'Iranian opposition leaders abducted'

An international human rights group said Sunday that the two main Iranian opposition leaders and their wives are in grave danger after security forces apparently abducted them from their homes, where they were under house arrest.
Published 28 Feb, 2011 12:00am
Labour rights protesters rally across US

Labour rights protesters rally across US

Tens of thousands of people protested in Wisconsin on Saturday against a state government push to curb the power of public sector unions, sparking solidarity rallies for labour rights around the United States. Protesters see the proposals as an effort to
Published 28 Feb, 2011 12:00am
Labour rights protesters rally across US

Labour rights protesters rally across US

Tens of thousands of people protested in Wisconsin on Saturday against a state government push to curb the power of public sector unions, sparking solidarity rallies for labour rights around the United States. Protesters see the proposals as an effort to
Published 28 Feb, 2011 12:00am
Labour rights protesters rally across US

Labour rights protesters rally across US

Tens of thousands of people protested in Wisconsin on Saturday against a state government push to curb the power of public sector unions, sparking solidarity rallies for labour rights around the United States. Protesters see the proposals as an effort to
Published 28 Feb, 2011 12:00am
Turkey's modern Islamic movement founder Erbakan dies

Turkey's modern Islamic movement founder Erbakan dies

Former Turkish Prime Minister Necmettin Erbakan, the founder of Turkey's modern Islamist movement, died from heart failure on Sunday, aged 85. "Erbakan was a scientist who devoted his life to learning. We will remember him with gratitude," said Prime Mini
Published 28 Feb, 2011 12:00am
Turkey's modern Islamic movement founder Erbakan dies

Turkey's modern Islamic movement founder Erbakan dies

Former Turkish Prime Minister Necmettin Erbakan, the founder of Turkey's modern Islamist movement, died from heart failure on Sunday, aged 85. "Erbakan was a scientist who devoted his life to learning. We will remember him with gratitude," said Prime Mini
Published 28 Feb, 2011 12:00am
Rising oil prices could stall US states' recoveries

Rising oil prices could stall US states' recoveries

Rising oil prices could trample prospects for economic recovery in many US states, three governors warned on Sunday, as a leading economist said they also threaten the country's economic comeback.
Published 28 Feb, 2011 12:00am
Rising oil prices could stall US states' recoveries

Rising oil prices could stall US states' recoveries

Rising oil prices could trample prospects for economic recovery in many US states, three governors warned on Sunday, as a leading economist said they also threaten the country's economic comeback.
Published 28 Feb, 2011 12:00am
Scandal-hit French foreign minister resigns

Scandal-hit French foreign minister resigns

Beleaguered French foreign minister Michele Alliot-Marie announced her resignation Sunday after weeks of criticism over her contacts with the former Tunisian regime, stressing she had committed no wrongdoing. "While I do not feel that I have committed any
Published 28 Feb, 2011 12:00am
Scandal-hit French foreign minister resigns

Scandal-hit French foreign minister resigns

Beleaguered French foreign minister Michele Alliot-Marie announced her resignation Sunday after weeks of criticism over her contacts with the former Tunisian regime, stressing she had committed no wrongdoing. "While I do not feel that I have committed any
Published 28 Feb, 2011 12:00am
Israeli panel faults army in 2002 civilian deaths

Israeli panel faults army in 2002 civilian deaths

An Israeli inquiry has found that the armed forces acted on flawed intelligence to kill a "disproportionate" number of Palestinian civilians during an air strike nine years ago which targeted a Hamas militant in Gaza.
Published 28 Feb, 2011 12:00am
Israeli panel faults army in 2002 civilian deaths

Israeli panel faults army in 2002 civilian deaths

An Israeli inquiry has found that the armed forces acted on flawed intelligence to kill a "disproportionate" number of Palestinian civilians during an air strike nine years ago which targeted a Hamas militant in Gaza.
Published 28 Feb, 2011 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (February 21 to 26, 2011)

Published 28 Feb, 2011 12:00am
The Weather

The Weather

The weather report on Sunday (February 27, 2011) and the forecast for Monday (February 28, 2011).

Published 28 Feb, 2011 12:00am
THE RUPEE: mixed pattern

THE RUPEE: mixed pattern

Divergent trend was witnessed on the currency market during the week ended on February 26, 2011. On the inter-bank market, the rupee lost 25 paisa in relation to dollar for buying at 85.65 and 26 paisa for selling at 85.70.
Published 28 Feb, 2011 12:00am
THE RUPEE: mixed pattern

THE RUPEE: mixed pattern

Divergent trend was witnessed on the currency market during the week ended on February 26, 2011. On the inter-bank market, the rupee lost 25 paisa in relation to dollar for buying at 85.65 and 26 paisa for selling at 85.70.
Published 28 Feb, 2011 12:00am
Oman police kill two protesters

Oman police kill two protesters

Omani police fired rubber bullets at stone-throwing protesters demanding political reform on Sunday, killing two people, and demonstrators set government buildings and cars ablaze, witnesses said.
Published 28 Feb, 2011 12:00am
Oman police kill two protesters

Oman police kill two protesters

Omani police fired rubber bullets at stone-throwing protesters demanding political reform on Sunday, killing two people, and demonstrators set government buildings and cars ablaze, witnesses said.
Published 28 Feb, 2011 12:00am
Libya council formed as UN imposes sanctions

Libya council formed as UN imposes sanctions

Libyan protest leaders established a transitional "national council" on Sunday in cities seized from Moamer Qadhafi, as world leaders called on him to quit and protesters closed in on Tripoli. The chaos engulfing the oil-rich North African state of 6.3 mi
Published 28 Feb, 2011 12:00am
Libya council formed as UN imposes sanctions

Libya council formed as UN imposes sanctions

Libyan protest leaders established a transitional "national council" on Sunday in cities seized from Moamer Qadhafi, as world leaders called on him to quit and protesters closed in on Tripoli. The chaos engulfing the oil-rich North African state of 6.3 mi
Published 28 Feb, 2011 12:00am
Tunisia gets new Prime Minister after new violence

Tunisia gets new Prime Minister after new violence

Tunisian Prime Minister Mohammed Ghannouchi resigned Sunday and was replaced by Beji Caid Essebsi, a former minister, after anti-government protests left five ppeople dead over the weekend. Security forces again clashed with protesters in Tunis demanding
Published 28 Feb, 2011 12:00am
Tunisia gets new Prime Minister after new violence

Tunisia gets new Prime Minister after new violence

Tunisian Prime Minister Mohammed Ghannouchi resigned Sunday and was replaced by Beji Caid Essebsi, a former minister, after anti-government protests left five ppeople dead over the weekend. Security forces again clashed with protesters in Tunis demanding
Published 28 Feb, 2011 12:00am
Mining sector tapped as huge revenue potential sources

Mining sector tapped as huge revenue potential sources

The Federal Board of Revenue (FBR) can examine/investigate mining sector as one of the most potential areas for increasing revenue collection and broadening the tax base under the national drive to discover new avenues of generating additional revenue in
Published 28 Feb, 2011 12:00am
Mining sector tapped as huge revenue potential sources

Mining sector tapped as huge revenue potential sources

The Federal Board of Revenue (FBR) can examine/investigate mining sector as one of the most potential areas for increasing revenue collection and broadening the tax base under the national drive to discover new avenues of generating additional revenue in
Published 28 Feb, 2011 12:00am
Mining sector tapped as huge revenue potential sources

Mining sector tapped as huge revenue potential sources

The Federal Board of Revenue (FBR) can examine/investigate mining sector as one of the most potential areas for increasing revenue collection and broadening the tax base under the national drive to discover new avenues of generating additional revenue in
Published 28 Feb, 2011 12:00am
ECC to consider new steps to punish local auto industry

ECC to consider new steps to punish local auto industry

The Economic Co-ordination Committee (ECC) of the Cabinet, which is scheduled to meet on Tuesday, will consider new measures to punish the local auto industry by increasing the rate of depreciation on assessable value, from the existing level of 1 percent
Published 28 Feb, 2011 12:00am
ECC to consider new steps to punish local auto industry

ECC to consider new steps to punish local auto industry

The Economic Co-ordination Committee (ECC) of the Cabinet, which is scheduled to meet on Tuesday, will consider new measures to punish the local auto industry by increasing the rate of depreciation on assessable value, from the existing level of 1 percent
Published 28 Feb, 2011 12:00am
Panic selling on KSE

Panic selling on KSE

Prevailing political uncertainty in the country and unrest in the Middle East region invited panic selling at the share market during the week ended on February 25, 2011. As a result, the KSE-100 index lost 817.63 points, depicting 6.8 percent decline, an
Published 28 Feb, 2011 12:00am
Panic selling on KSE

Panic selling on KSE

Prevailing political uncertainty in the country and unrest in the Middle East region invited panic selling at the share market during the week ended on February 25, 2011. As a result, the KSE-100 index lost 817.63 points, depicting 6.8 percent decline, an
Published 28 Feb, 2011 12:00am
Panic selling on KSE

Panic selling on KSE

Prevailing political uncertainty in the country and unrest in the Middle East region invited panic selling at the share market during the week ended on February 25, 2011. As a result, the KSE-100 index lost 817.63 points, depicting 6.8 percent decline, an
Published 28 Feb, 2011 12:00am
Futures open interest up by 5.9 percent

Futures open interest up by 5.9 percent

Total open interest position at the futures counter increased by 5.9 percent on week on week basis to Rs 1.385 billion. On the other hand, the futures spreads also surged by 806bps during the week ended on February 25, 2011 to 11 percent.
Published 28 Feb, 2011 12:00am
Futures open interest up by 5.9 percent

Futures open interest up by 5.9 percent

Total open interest position at the futures counter increased by 5.9 percent on week on week basis to Rs 1.385 billion. On the other hand, the futures spreads also surged by 806bps during the week ended on February 25, 2011 to 11 percent.
Published 28 Feb, 2011 12:00am
Futures open interest up by 5.9 percent

Futures open interest up by 5.9 percent

Total open interest position at the futures counter increased by 5.9 percent on week on week basis to Rs 1.385 billion. On the other hand, the futures spreads also surged by 806bps during the week ended on February 25, 2011 to 11 percent.
Published 28 Feb, 2011 12:00am
Futures open interest up by 5.9 percent

Futures open interest up by 5.9 percent

Total open interest position at the futures counter increased by 5.9 percent on week on week basis to Rs 1.385 billion. On the other hand, the futures spreads also surged by 806bps during the week ended on February 25, 2011 to 11 percent.
Published 28 Feb, 2011 12:00am
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