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Archive - 2011-03-05
25 killed in Brazil road accident
World

25 killed in Brazil road accident

RIO DE JANEIRO: A truck and a bus collided in Brazil's southern state of Santa Catarina early Saturday, killing at least
Published 05 Mar, 2011 06:18pm
Pakistan's GDP has grown to $165bn
Top News

Pakistan's GDP has grown to $165bn

KARACHI: Pakistan's gross domestic product (GDP) has grown to dollars 165 billion from $ 100 billion ten years back. Ho
Published 05 Mar, 2011 06:13pm
Kuwait's Zain swings to Q4 net profit
Top News

Kuwait's Zain swings to Q4 net profit

KUWAIT: Kuwaiti mobile operator Zain swung to profit in the fourth quarter, according to Reuters calculations, beating a
Published 05 Mar, 2011 06:08pm
Libya appoints new UN representative
Top News

Libya appoints new UN representative

UNITED NATIONS: Libya has moved to seek a change in the credentials for the Libyan permanent representative to the Unite
Published 05 Mar, 2011 05:24pm
Saudi Arabia bans all protests
Top News

Saudi Arabia bans all protests

RIYADH:  Saudi Arabia said on Saturday it would ban all protests and marches after minority Shias staged small protests
Published 05 Mar, 2011 02:21pm
Musharraf's arrest warrants issued
Top News

Musharraf's arrest warrants issued

RAWALPINDI: An Anti-Terrorism Court (ATC) on Sturday reissued non-bailable arrest warrants against former President Perv
Published 05 Mar, 2011 01:56pm
SC's four benches for next week
Top News

SC's four benches for next week

ISLAMABAD: Chief Justice of Pakistan Iftikhar Muhammad Chaudhry has constituted four benches at the Principal seat to
Published 05 Mar, 2011 12:42pm
One dead, two injured in Karachi blast
Top News

One dead, two injured in Karachi blast

KARACHI: One person died while two others were injured in a blast in a house in Karachi's Juma Goth on Saturday, a pol
Published 05 Mar, 2011 12:35pm
ATC adjourns governor murder trial
Top News

ATC adjourns governor murder trial

RAWALPINDI: Anti Terrorism Court (ATC) on Saturday adjourned the case of a police commando charged with murdering a
Published 05 Mar, 2011 10:47am
Benghazi arms dump blast deaths reach 27
Top News

Benghazi arms dump blast deaths reach 27

BENGHAZI: The death toll from explosions at an arms dump in an area held by Libyan rebels reached 27 Saturday, after a d
Published 05 Mar, 2011 09:30am
China's parliament opens
Asia

China's parliament opens

BEIJING: China's parliament opened its annual session Saturday, with Premier Wen Jiabao expected to acknowledge "great r
Published 05 Mar, 2011 07:35am
Japan launches 'Hayabusa' bullet train
Top News

Japan launches 'Hayabusa' bullet train

TOKYO: Japan's latest bullet train, the thin-nosed "Hayabusa" or Falcon, made its 300 kilometre per hour (186 mph) prese
Published 05 Mar, 2011 06:00am
Iraqi forces use water cannon to disperse protests

Iraqi forces use water cannon to disperse protests

Iraqi security forces used water cannon and batons to disperse protesters in the southern oil hub of Basra on Friday as thousands of Iraqis rallied around the nation against corrupt officials and poor basic services. Demonstrations against a shortage of j
Published 05 Mar, 2011 12:00am
Many hurt as Sunnis, Shia clash in Bahrain

Many hurt as Sunnis, Shia clash in Bahrain

Several people were hurt in fighting between Sunni and majority Shia Muslims in a town in central Bahrain on Friday, the first sectarian violence since protests erupted in the Sunni-ruled kingdom two weeks ago. The overnight clashes were triggered by a fa
Published 05 Mar, 2011 12:00am
China reports rise in foreign students

China reports rise in foreign students

The number of foreign students in China reached a record high of more than 260,000 last year, led by South Koreans and Americans, the Ministry of Education said. A total of 265,090 students from 194 countries enrolled in China in 2010, according to statis
Published 05 Mar, 2011 12:00am
China raises military budget by 13 percent

China raises military budget by 13 percent

China announced an almost 13-per-cent rise in its annual military budget on Friday, following international concern over consecutive large increases in recent years. The draft defence budget for 2011 was set at 601 billion yuan (91.5 billion dollars), up
Published 05 Mar, 2011 12:00am
UK cuts blamed as Liberal Democrats suffer heavy defeat

UK cuts blamed as Liberal Democrats suffer heavy defeat

Britain's ruling coalition members the Liberal Democrats suffered a punishing defeat in a by-election in northern England that they said was the price they had to pay for the government's tough economic policies. The party had not been expected to defeat
Published 05 Mar, 2011 12:00am
Russia's top aircraft designer dies

Russia's top aircraft designer dies

Mikhail Simonov, one of Russia's top aircraft designers and creator of the famous Sukhoi fighter jets, has died. He was 81. Simonov died in Moscow on Friday, said Sukhoi company's spokesman Sergei Meshcheryakov. He wouldn't specify the cause of Simonov's
Published 05 Mar, 2011 12:00am
Ahmadinejad is 'Steinbrenner of Iran'

Ahmadinejad is 'Steinbrenner of Iran'

A leaked US diplomatic cable on the 2009 Iranian election campaign calls President Mahmoud Ahmadinejad the "George Steinbrenner of Iran" when summarising his influence over the national soccer team. The comparison was made in a confidential document relea
Published 05 Mar, 2011 12:00am
Workers burn boss alive in eastern India

Workers burn boss alive in eastern India

Indian police arrested four men on Friday suspected of being part of a mob of protesting workers who burned alive a steel factory manager in the country's east. About 30 men were believed to have poured petrol over the car of the deputy general manager of
Published 05 Mar, 2011 12:00am
Saleh rejects transition plan

Saleh rejects transition plan

Yemeni President Ali Abdullah Saleh rejected an opposition plan for him to step aside this year, as protests against his three-decade rule over the impoverished nation swelled into hundreds of thousands. The opposition said Saleh, a US ally against al Qae
Published 05 Mar, 2011 12:00am
Every income should be taxed: Tareen

Every income should be taxed: Tareen

Former Finance Minister, Shaukat Tareen has stressed the need for increasing tax to GDP ratio to 15 percent by 2014, saying every income should be taxed whether it is agricultural or other sector. He was addressing the seminar "What must be done to avoid
Published 05 Mar, 2011 12:00am
PMA recommends allocation of 6pc GDP for health sector

PMA recommends allocation of 6pc GDP for health sector

Pakistan Medical Association (PMA) in its annual recommendations for the year 2011 has suggested raise in the budgetary allocations for health sector by a minimum six percent of the GDP. Professor Tipu Sultan, Honorary President PMA-Center, sharing detail
Published 05 Mar, 2011 12:00am
Srinagar-Jammu highway remains closed for fourth day

Srinagar-Jammu highway remains closed for fourth day

Fresh snowfall and landslides triggered by heavy rains kept the vital Jammu-Srinagar Highway closed for traffic for fourth consecutive day on Friday. No movement of traffic was allowed from both the capital cities of Srinagar and Jammu in view of heavy ra
Published 05 Mar, 2011 12:00am
TI opposes calls for mid-term polls

TI opposes calls for mid-term polls

Chairman, Tehrik-e-Istiqlal (TI), Rahmat Khan Wardag has said that mid-term polls will not resolve the problems of the country and called for the completion of the constitutional term by the present PPP government to strengthen democracy in the country.
Published 05 Mar, 2011 12:00am
UiTM to name science centre after Atta-ur-Rahman

UiTM to name science centre after Atta-ur-Rahman

The University of Technology Mara, Malaysia, (UiTM) has decided to set up a science centre in the name of former Chairman, Higher Education Commission Pakistan, Professor Dr Atta-ur-Rahman in recognition of his services for science and technology and high
Published 05 Mar, 2011 12:00am
ISL to raise Rs three billion through public offering

ISL to raise Rs three billion through public offering

International Steels Limited (ISL) plans to raise Rs 3 billion ($35 million) through public offering. The mega project has 0.25 million tons production capacity and a joint venture of International Industries Limited (IIL), International Finance Corporati
Published 05 Mar, 2011 12:00am
New Zealand hammer sorry Zimbabwe

New Zealand hammer sorry Zimbabwe

New Zealand romped to a clinical 10-wicket victory against Zimbabwe in the World Cup on Friday, boosting their chances of making it to the quarter-finals. After bowling out the African nation for just 162, the Kiwis rode on unbeaten half-centuries by Mart
Published 05 Mar, 2011 12:00am
My worst day, says Bangladesh captain

My worst day, says Bangladesh captain

Bangladesh skipper Shakib Al Hasan said his team's nine-wicket rout by the West Indies on Friday was the "worst day" of his career, but insisted his side's World Cup campaign was not over. "We did not play well at all," said Shakib after Bangladesh were s
Published 05 Mar, 2011 12:00am
Legend Golf Classic Championship starts

Legend Golf Classic Championship starts

The legend Golf Classic Championship between the 20-member Lahore Team and the 20-member Karachi Team has now moved to Abu Dhabi for the next round of their combat. In the previous championship held at the Royal Palm Golf and Country Club, Lahore, the Lah
Published 05 Mar, 2011 12:00am
Pakistan, Palestine football match ends in a draw

Pakistan, Palestine football match ends in a draw

Pakistani football team put up stubborn display to hold Palestine 0-0 in the second test of bilateral four test-series at Karachi's Peoples Sports Complex on Friday. According to information made available here, Palestine led the series 1-0 after two matc
Published 05 Mar, 2011 12:00am
West Indies rout Bangladesh

West Indies rout Bangladesh

West Indies took a giant stride towards the quarter-finals by pounding lacklustre Bangladesh by nine wickets in a key Group B match on Friday. Lanky spinner Sulieman Benn grabbed 4-18, and fast bowlers Kemar Roach and skipper Darren Sammy claimed three ea
Published 05 Mar, 2011 12:00am
West Indies rout Bangladesh

West Indies rout Bangladesh

West Indies took a giant stride towards the quarter-finals by pounding lacklustre Bangladesh by nine wickets in a key Group B match on Friday. Lanky spinner Sulieman Benn grabbed 4-18, and fast bowlers Kemar Roach and skipper Darren Sammy claimed three ea
Published 05 Mar, 2011 12:00am
Angry Bangladesh fans stone West Indies team bus

Angry Bangladesh fans stone West Indies team bus

The West Indies cricket squad bus was attacked by angry Bangladesh fans on Friday after the home team crashed to a nine-wicket defeat in the World Cup. Two windows of the bus were shattered as it was leaving the Sher-e-Bangla stadium after the match, a po
Published 05 Mar, 2011 12:00am
Lowest World Cup totals

Lowest World Cup totals

Lowest World Cup totals after Bangladesh were bowled out for 58 by the West Indies on Friday (team, score, overs, opposition, venue, date)

Published 05 Mar, 2011 12:00am
Australia have masterplan to counter Malinga

Australia have masterplan to counter Malinga

Defending champions Australia insist they have a plan to tackle Sri Lanka's record-breaking Lasith Malinga in Saturday's mouth-watering World Cup clash. The co-hosts are considering playing all their three spinners - Muttiah Muralitharan, Ajantha Mendis a
Published 05 Mar, 2011 12:00am
Sangakkara backs spinners

Sangakkara backs spinners

Sri Lanka captain Kumar Sangakkara said he'll back his three spinners to top Australian pace in their crucial World Cup Group A match on Saturday. The 1996 world champions and 2007 runners-up are considering the option of playing Muttiah Muralitharan, Aja
Published 05 Mar, 2011 12:00am
Canada skipper hails Afridi effect

Canada skipper hails Afridi effect

Canada captain Ashish Bagai praised opposite number Shahid Afridi after the Pakistan talisman smothered his team's push for an upset World Cup win. Canada dismissed Pakistan for a paltry 184 before slipping from 104-3 to 138 all out in 42.5 overs, going d
Published 05 Mar, 2011 12:00am
US payrolls jump, jobless rate near two-year low

US payrolls jump, jobless rate near two-year low

Hiring by US employers hit a nine-month high in February and the jobless rate slipped to a nearly two-year low of 8.9 percent, showing the economy is kicking into a higher gear. Employment increased 192,000, the Labour Department said on Friday, in line w
Published 05 Mar, 2011 12:00am
Japan, South Korea agree on $1.95 billion Brazil mining deal

Japan, South Korea agree on $1.95 billion Brazil mining deal

A consortium of Japanese and South Korean companies Friday agreed on a deal to take a $1.95 billion 15 percent stake in a Brazilian metal miner, the Japanese firms said. Nippon Steel, JFE Steel, and trading house Sojitz as well as the state-owned Japan Oi
Published 05 Mar, 2011 12:00am
Azerbaijan to start oil sales in Americas

Azerbaijan to start oil sales in Americas

Azerbaijan plans to foray into markets in the Americas this spring as a part of a swap-deal between it, Belarus and Venezuela, the Azeri state energy company said on Friday. According to a deal brokered last year, Azerbaijan will supply crude oil to Belar
Published 05 Mar, 2011 12:00am
EU must convince, regardless of ECB: Merkel

EU must convince, regardless of ECB: Merkel

European leaders must deliver a convincing response to the eurozone's debt crisis regardless of a European Central Bank threat to raise interest rates, German Chancellor Angela Merkel said on Friday. She was speaking after ECB President Jean-Claude Triche
Published 05 Mar, 2011 12:00am
Putin promises higher wages before polls

Putin promises higher wages before polls

Prime Minister Vladimir Putin promised extra cash to state workers and students on Friday, but stopped short of bigger vote-winning gestures before a campaign run culminating in Russia's 2012 presidential poll. Russia holds regional polls on March 13, fol
Published 05 Mar, 2011 12:00am
Kosovo risks IMF deal with 50pc public pay rise

Kosovo risks IMF deal with 50pc public pay rise

Kosovo's new government is jeopardising its deal with the International Monetary Fund by sticking with a promise to raise public sector wages by up to 50 percent, diplomats told Reuters on Friday. An IMF mission arrives in the Balkan country next week and
Published 05 Mar, 2011 12:00am
Britain seizes $160 million on Libya-bound ship

Britain seizes $160 million on Libya-bound ship

Britain has seized £100 million ($160 million, 117 million euros) of Libyan currency found on a Libya-bound ship after escorting the vessel to an English port, officials said Friday. The ship was on its way to Britain after trying to dock at the Libyan ca
Published 05 Mar, 2011 12:00am
China puts hard target on energy use

China puts hard target on energy use

China will impose a hard limit on total energy use, capping consumption from all sources at the equivalent of 4 billion tonnes of coal (TCE) by 2015, the country's former energy chief Zhang Guobao said on Friday. Zhang, who retired earlier this year as he
Published 05 Mar, 2011 12:00am
Bombardier gets jumbo credit deal from China

Bombardier gets jumbo credit deal from China

Canada's Bombardier, the third-largest aircraft maker in the world behind Airbus and Boeing, says it has secured a financing deal worth up to $8 billion from a Chinese leasing firm. Under a memorandum of understanding signed by the two firms, ICBC Leasing
Published 05 Mar, 2011 12:00am
Standard & Poor's downgrades Toyota

Standard & Poor's downgrades Toyota

Japanese auto giant Toyota suffered a fresh setback on Friday when ratings agency Standard & Poor's said it had downgraded the carmaker to "AA-" from "AA" citing "weak profitability". The dropping of Toyota's long-term corporate credit and senior unsecure
Published 05 Mar, 2011 12:00am
France embarrassed by Renault spying debacle

France embarrassed by Renault spying debacle

France faced severe political embarrassment on Friday after carmaker Renault said the three top executives it sacked for industrial espionage in January might not be spies after all. French Finance Minister Christine Lagarde said the country's second-bigg
Published 05 Mar, 2011 12:00am
For Britain's class of 2011, finance keeps allure

For Britain's class of 2011, finance keeps allure

Investment bankers have been villified by the public since the financial crisis, and regulators are cracking down on their pay, but Britain's university graduates still aspire to become them. At the country's top universities, the generation of students w
Published 05 Mar, 2011 12:00am
New Zealand dollar plumbs near one-year low

New Zealand dollar plumbs near one-year low

The New Zealand dollar skidded to a near one-year low against the euro on Friday after the European Central Bank staggered markets by signalling it would likely hike interest rates in April, far earlier than anyone seriously expected. The timing was parti
Published 05 Mar, 2011 12:00am
Rupiah at four-year high

Rupiah at four-year high

The rupiah hit a near four-year high against the dollar after the central bank signalled on Friday it was willing to use the currency's gains in its battle with inflation even though it was seen buying dollars in an effort to control the rupiah's rise.
Published 05 Mar, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee pared most of its early gains to end marginally stronger on Friday, tracking a decline in local shares and high global oil prices, while a strong euro supported. The partially convertible rupee closed at 44.98/99 per dollar after trading
Published 05 Mar, 2011 12:00am
Yuan soars

Yuan soars

The yuan closed up versus the dollar on Friday after the People's Bank of China set a record high mid-point for the second day, in a further sign that the government is using the currency to help fight high inflation, worsened by surging imported commodit
Published 05 Mar, 2011 12:00am
Swiss franc jumps

Swiss franc jumps

Swiss franc pushed back from a two-week low against the euro and rose against the dollar on Friday after Swiss National Bank Vice-Chairman Thomas Jordan said low interest rates were not sustainable in the medium term. The franc clawed back some of the gro
Published 05 Mar, 2011 12:00am
Euro rallies strongly

Euro rallies strongly

The euro rallied strongly to a fresh four-month high against the US dollar on Thursday, edging toward the psychologically important $1.40 level, after European Central Bank President Jean-Claude Trichet cemented expectations of a near-term interest rate r
Published 05 Mar, 2011 12:00am
Early trade in New York: Dollar slips to four-month low

Early trade in New York: Dollar slips to four-month low

The dollar eased to a four-month low against major currencies on Friday and looked set to extend losses after a solid US February jobs report did little to alter expectations for Federal Reserve monetary policy. The euro broke above the psychologically im
Published 05 Mar, 2011 12:00am
Euro rises versus dollar in London

Euro rises versus dollar in London

The euro hit a four-month high against the dollar on Friday on expectations eurozone interest rates may rise next month, while investors waited to see whether strong US jobs data would offer the greenback some respite. The central forecast in a Reuters po
Published 05 Mar, 2011 12:00am
Euro holds huge gains in Asia

Euro holds huge gains in Asia

The euro took a breather in its explosive rally ahead of influential US jobs data on Friday, but the single currency is set to stay in demand after the European Central Bank signalled it may raise interest rates as early as next month. While the ECB had b
Published 05 Mar, 2011 12:00am
Sterling slides versus euro

Sterling slides versus euro

Sterling fell sharply against the euro on Thursday as a weak UK services sector survey and hawkish comments from the European Central Bank raised the prospect of eurozone interest rates rising before UK rates. ECB President Jean-Claude Trichet said eurozo
Published 05 Mar, 2011 12:00am
Short-dated euro rates remain up

Short-dated euro rates remain up

Eurozone short-term interest rates jumped on Thursday after the European Central Bank said inflationary pressures had increased, using language understood by the market to mean a rate hike was imminent. The ECB kept interest rates on hold at 1 percent as
Published 05 Mar, 2011 12:00am
FTSE slips on renewed violence in Libya

FTSE slips on renewed violence in Libya

Britain's top share index drifted lower on Friday, as renewed fighting in Libya and concerns of contagion prompted investors to consolidate sharp gains made in the previous session, ahead of the weekend. Heavily armed rebels clashed with forces loyal to M
Published 05 Mar, 2011 12:00am
European stocks end in red for second week

European stocks end in red for second week

European shares fell on Friday to end their second straight week in the red after US jobs data failed to meet the market hype and fighting in Libya pushed oil prices higher. Top fallers included world No 2 retailer Carrefour, down 4.4 percent on concern o
Published 05 Mar, 2011 12:00am
Australian shares rise

Australian shares rise

Australian stocks rose 1.2 percent on Friday to a two-week closing high, following a pullback in oil prices from 2-1/2 year highs and renewed confidence in the US economic outlook. Shares rose 0.6 percent for the week. Australia's economy depends on the c
Published 05 Mar, 2011 12:00am
Nikkei stays higher

Nikkei stays higher

Japan's Nikkei average climbed for a second session on Friday buoyed by Wall Street's gains on expectations for a big rise in US payrolls and a weaker yen, but players said trade is set to stay choppy near-term on worries over oil. Investors stressed that
Published 05 Mar, 2011 12:00am
Indian shares post best weekly gain since November

Indian shares post best weekly gain since November

Indian shares posted their best weekly gain in four months, but closed barely changed on Friday, with investors locking in gains after the recent rally, while the next week was viewed with uncertainty as unrest in the Middle East continues. Engineering an
Published 05 Mar, 2011 12:00am
Seoul shares gain

Seoul shares gain

Seoul shares rose on Friday fuelled by the biggest foreign net buying in two months, as optimism over the economic outlook boosted shares in banks such as Hana Financial Group. The Korea Composite Stock Price Index (KOSPI) ended up 1.73 percent at 2,004.6
Published 05 Mar, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries fell on Thursday as jobless claims data raised expectations of an improving labour market in coming months, driving a stock rally that drew investors out of safe-haven government debt. New claims for jobless benefits fell to a more than 2-1/
Published 05 Mar, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries fell on Thursday as jobless claims data raised expectations of an improving labour market in coming months, driving a stock rally that drew investors out of safe-haven government debt. New claims for jobless benefits fell to a more than 2-1/
Published 05 Mar, 2011 12:00am
Taiwan stocks hit three-week high

Taiwan stocks hit three-week high

Taiwan stocks rose 0.53 percent to a three-week closing high on Friday amid hopes foreign funds would return to emerging markets and paced by gains in Hon Hai and other suppliers to Apple's new iPad 2. "The US dollar index is declining; money may flow bac
Published 05 Mar, 2011 12:00am
Jobs data optimism fuels Wall Street rally

Jobs data optimism fuels Wall Street rally

Investors betting on a big gain in US payrolls pushed Wall Street to its best one-day rally in three months on Thursday, but weak volume lingers as a concern for those hoping for another leg higher. As oil paused from its recent climb, the market's focus
Published 05 Mar, 2011 12:00am
Friday's afternoon trade: higher oil, tumbling bank drag stocks lower

Friday's afternoon trade: higher oil, tumbling bank drag stocks lower

Rising oil prices and tumbling bank shares dragged Wall Street lower on Friday, with stocks surrendering the previous session's hefty gains. The brokerage downgraded shares of Citigroup Inc and Goldman Sachs Group Inc to "neutral" from "buy." Goldman fell
Published 05 Mar, 2011 12:00am
Sindh Assembly condemns Bhatti's assassination

Sindh Assembly condemns Bhatti's assassination

The Sindh Assembly on Friday through a unanimous resolution condemned the killing of federal minister for minorities' affairs, Shahbaz Bhatti and termed the assassination another attack on peace and progress of Pakistan. Sindh Minister for Power, Shazia A
Published 05 Mar, 2011 12:00am
Hong Kong, Shanghai shares up

Hong Kong, Shanghai shares up

China shares rose on Friday, supported by banks, while a bout of short-covering in Hong Kong after Wall Street's overnight rally helped cement the advance for the Hang Seng. The Hang Seng Index rose 1.2 percent closing above a near-term chart resistance t
Published 05 Mar, 2011 12:00am
Sindh Assembly condemns Bhatti's assassination

Sindh Assembly condemns Bhatti's assassination

The Sindh Assembly on Friday through a unanimous resolution condemned the killing of federal minister for minorities' affairs, Shahbaz Bhatti and termed the assassination another attack on peace and progress of Pakistan. Sindh Minister for Power, Shazia A
Published 05 Mar, 2011 12:00am
South East Asian markets soar

South East Asian markets soar

Southeast Asian stock markets rose on Friday amid optimism about the US economic recovery and a decision by Indonesia to maintain interest rates boosted big-cap banks, pushing its market index to a five-week high. "Banking stocks had already anticipated i
Published 05 Mar, 2011 12:00am
WPP finds cautious firms favour advertising spending

WPP finds cautious firms favour advertising spending

Western companies flush with cash but reluctant to commit to longer-term investments spent heavily on advertising in 2010 and especially on TV, boosting the world's biggest ad group WPP in the US and Britain. Combined with a good performance in fast-growi
Published 05 Mar, 2011 12:00am
India BPCL raises oil supplies from UAE, Saudi

India BPCL raises oil supplies from UAE, Saudi

India's state-run Bharat Petroleum Corp has stepped up supplies from United Arab Emirates and Saudi Arabia, replacing those from crisis-hit Libya, an industry source with knowledge of the matter said on Friday. "ADNOC (Abu Dhabi National Oil Co) and Saudi
Published 05 Mar, 2011 12:00am
No deal on grain market

No deal on grain market

No transaction was reported on the grain and seed market on Friday as main participants were busy in preparations for Juma prayers, grain and seed merchants group's release said.
Published 05 Mar, 2011 12:00am
Firm trend in low transactions prevails on cotton market

Firm trend in low transactions prevails on cotton market

Steady trend was seen on the cotton market on Friday as the NY cotton futures hit the new high at 2.12 per lb, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12000, they said. Phutti prices in Sindh and Punjab were n
Published 05 Mar, 2011 12:00am
Two-day strike in Karachi: trade suffers Rs six billion losses

Two-day strike in Karachi: trade suffers Rs six billion losses

Business and trade on Friday remained completely closed in the city on Sunni Tehrik's strike call against the fresh fuel price hike. Traders told Business Recorder the businesses had suffered about Rs 6 billion losses during the last two days' prot
Published 05 Mar, 2011 12:00am
US wheat futures rise to lead surge in markets

US wheat futures rise to lead surge in markets

US wheat futures rose nearly 2 percent on Thursday, leading grain markets higher as the dollar weakened and investors fretted about dry weather in the Plains. Corn futures rallied from sharp declines a day earlier, as weekly export sales topped 1 million
Published 05 Mar, 2011 12:00am
Two-day strike in Karachi: trade suffers Rs six billion losses

Two-day strike in Karachi: trade suffers Rs six billion losses

Business and trade on Friday remained completely closed in the city on Sunni Tehrik's strike call against the fresh fuel price hike. Traders told Business Recorder the businesses had suffered about Rs 6 billion losses during the last two days' prot
Published 05 Mar, 2011 12:00am
High Vietnamese coffee price spooks exporters

High Vietnamese coffee price spooks exporters

Record domestic coffee prices in Vietnam have spooked exporters struggling to secure supply as farmers fail to honour contracts, while demand from local roasters is stirring up trade in Indonesia, dealers said on Friday. Many farmers in Vietnam, the world
Published 05 Mar, 2011 12:00am
Two-day strike in Karachi: trade suffers Rs six billion losses

Two-day strike in Karachi: trade suffers Rs six billion losses

Business and trade on Friday remained completely closed in the city on Sunni Tehrik''s strike call against the fresh fuel price hike. Traders told Business Recorder the businesses had suffered about Rs 6 billion losses during the last two days'' pr
Published 05 Mar, 2011 12:00am
Indonesia's Sulawesi February cocoa bean exports up

Indonesia's Sulawesi February cocoa bean exports up

Indonesia's cocoa bean exports from the key-producing island of Sulawesi rose 12 percent in February from the same month a year ago, as exporters rushed to ship beans to avoid the potential for higher export taxes, industry data showed on Friday. Indonesi
Published 05 Mar, 2011 12:00am
KTI calls off strike on Ibad's assurance

KTI calls off strike on Ibad's assurance

On the assurance by Sindh Governor, Dr Ishrat-ul-Ibad Khan, the Karachi Transport Ittehad (KTI) has ended its strike. As a result of this, the public transport started plying on the roads in the metropolis. A delegation of the KTI led by its President Irs
Published 05 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 141,520 tonnes of cargo including 74,451 tonnes of import cargo, 67,069 tonnes of export cargo and 4,426 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 74,451 tonnes compris
Published 05 Mar, 2011 12:00am
KTI calls off strike on Ibad's assurance

KTI calls off strike on Ibad's assurance

On the assurance by Sindh Governor, Dr Ishrat-ul-Ibad Khan, the Karachi Transport Ittehad (KTI) has ended its strike. As a result of this, the public transport started plying on the roads in the metropolis. A delegation of the KTI led by its President Irs
Published 05 Mar, 2011 12:00am
Brazilian roasters snub government's offer to sell old beans

Brazilian roasters snub government's offer to sell old beans

Coffee roasters in Brazil have turned up their nose at the government's offer to sell 50,000 bags of old beans from its public stocks even as supplies grow harder to find and coffee prices keep climbing. The government was looking for 460.20 reais ($278.5
Published 05 Mar, 2011 12:00am
KTI calls off strike on Ibad''s assurance

KTI calls off strike on Ibad''s assurance

On the assurance by Sindh Governor, Dr Ishrat-ul-Ibad Khan, the Karachi Transport Ittehad (KTI) has ended its strike. As a result of this, the public transport started plying on the roads in the metropolis. A delegation of the KTI led by its President Irs
Published 05 Mar, 2011 12:00am
Soyabean export premiums steady at US Gulf Coast

Soyabean export premiums steady at US Gulf Coast

Soyabean export premiums at the US Gulf Coast were steady to firm on Thursday as a rising CIF market lifted nearby values despite dull demand for shipments from the Gulf, traders said. Corn export premiums were also steady to higher on a firm spot CIF mar
Published 05 Mar, 2011 12:00am
LSE director quits over Libya links

LSE director quits over Libya links

The outgoing director of the London School of Economics said Friday he regretted taking a large donation from a foundation linked to the family of Libyan ruler Moammar Gadhafi but was not sorry about agreeing to train civil servants from the Libyan regime
Published 05 Mar, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday with crusher buying, but slightly lagged gains in US soyabeans due to modest liquidation by funds and hedge selling by commercials, traders said. Support for canola spilled over from stronger Chicago soyabean f
Published 05 Mar, 2011 12:00am
LSE director quits over Libya links

LSE director quits over Libya links

The outgoing director of the London School of Economics said Friday he regretted taking a large donation from a foundation linked to the family of Libyan ruler Moammar Gadhafi but was not sorry about agreeing to train civil servants from the Libyan regime
Published 05 Mar, 2011 12:00am
From plagiarism to resignation!

From plagiarism to resignation!

A few days ago, an interesting piece of information appeared on media about the current German Defence Minister when he was alleged for committing plagiarism in his doctoral dissertation, earning him the title "Doctor".
Published 05 Mar, 2011 12:00am
LSE director quits over Libya links

LSE director quits over Libya links

The outgoing director of the London School of Economics said Friday he regretted taking a large donation from a foundation linked to the family of Libyan ruler Moammar Gadhafi but was not sorry about agreeing to train civil servants from the Libyan regime
Published 05 Mar, 2011 12:00am
KARACHI CHRONICLE: What would our lives be like without roses?

KARACHI CHRONICLE: What would our lives be like without roses?

The annual flower show organised by the Horticulture Society of Pakistan has become a show without a soul. It is more of a posh fashion show of plants and people as the emphasis is on prettiness, decorative themes, colour and magnificent collection of exo
Published 05 Mar, 2011 12:00am
LSE director quits over Libya links

LSE director quits over Libya links

The outgoing director of the London School of Economics said Friday he regretted taking a large donation from a foundation linked to the family of Libyan ruler Moammar Gadhafi but was not sorry about agreeing to train civil servants from the Libyan regime
Published 05 Mar, 2011 12:00am
Launch of MTS, MFS at KSE on March 14

Launch of MTS, MFS at KSE on March 14

The much-awaited leverage products - Margin Trading System (MTS) and Margin Financing System (MFS) - will be implemented through National Clearing Company of Pakistan Limited (NCCPL) at the stock exchange from March 14, 2011. Finance Minister Dr Abdul Haf
Published 05 Mar, 2011 12:00am
ART FACTS: KSA aims and aspirations

ART FACTS: KSA aims and aspirations

When I recently visit the Karachi School of Art I experienced a new world there, a unique language of line, colour, and media through which students interpret their thoughts creating an art world enclosed inside its boundary. The Karachi School of Art (KS
Published 05 Mar, 2011 12:00am
Launch of MTS, MFS at KSE on March 14

Launch of MTS, MFS at KSE on March 14

The much-awaited leverage products - Margin Trading System (MTS) and Margin Financing System (MFS) - will be implemented through National Clearing Company of Pakistan Limited (NCCPL) at the stock exchange from March 14, 2011. Finance Minister Dr Abdul Haf
Published 05 Mar, 2011 12:00am
Cosmos and cosmic language - I

Cosmos and cosmic language - I

Over two decades ago, a Dervish once told me that cosmos speaks to us all the time in it's own language. It is different matter that we don't perceive or understand it. It's like a person sitting next to us talking in a foreign language sounding gibberish
Published 05 Mar, 2011 12:00am
Launch of MTS, MFS at KSE on March 14

Launch of MTS, MFS at KSE on March 14

The much-awaited leverage products - Margin Trading System (MTS) and Margin Financing System (MFS) - will be implemented through National Clearing Company of Pakistan Limited (NCCPL) at the stock exchange from March 14, 2011. Finance Minister Dr Abdul Haf
Published 05 Mar, 2011 12:00am
BRIDGE NOTES: A stellar performance

BRIDGE NOTES: A stellar performance

Some plays in bridge are simply exceptional. It is only the farsightedness of a player who can visualize the ending much earlier than the others that leads him on course to the winning goal. Those who lack this imaginative faculty and get rattled up too e
Published 05 Mar, 2011 12:00am
Trading in DFC market: KSE notifies securities' new list

Trading in DFC market: KSE notifies securities' new list

Karachi Stock Exchange (KSE) has notified the new list of securities eligible for trading in Deliverable Futures Contract (DFC) Market at the exchange. According to a notice sent to all members, the KSE said that the new list of DFC eligible securities wi
Published 05 Mar, 2011 12:00am
Amir Sultan Chinoy Memorial Bridge Tournament

Amir Sultan Chinoy Memorial Bridge Tournament

Managing Committee Sindh Club hosted the annual Amir Sultan Chinoy Memorial Bridge Tournament, at their premises, on Wednesday, February, 23, 2011. Late Amir Chinoy, scion of the Chinoy family of pre-partition India, is the illustrious son of Sir Sultan C
Published 05 Mar, 2011 12:00am
Trading in DFC market: KSE notifies securities' new list

Trading in DFC market: KSE notifies securities' new list

Karachi Stock Exchange (KSE) has notified the new list of securities eligible for trading in Deliverable Futures Contract (DFC) Market at the exchange. According to a notice sent to all members, the KSE said that the new list of DFC eligible securities wi
Published 05 Mar, 2011 12:00am
Trading in DFC market: KSE notifies securities'' new list

Trading in DFC market: KSE notifies securities'' new list

Karachi Stock Exchange (KSE) has notified the new list of securities eligible for trading in Deliverable Futures Contract (DFC) Market at the exchange. According to a notice sent to all members, the KSE said that the new list of DFC eligible securities wi
Published 05 Mar, 2011 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 05 Mar, 2011 12:00am
Libyan clashes widen, Interpol issues Qadhafi alert

Libyan clashes widen, Interpol issues Qadhafi alert

Muammar Qadhafi's forces battled rebels on several fronts in Libya on Friday and unrest erupted in the capital when gunmen fired to break up crowds shouting "Qadhafi is the enemy of God". Vowing "victory or death", eastern-based rebels pressed home a west
Published 05 Mar, 2011 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 05 Mar, 2011 12:00am
Libyan clashes widen, Interpol issues Qadhafi alert

Libyan clashes widen, Interpol issues Qadhafi alert

Muammar Qadhafi's forces battled rebels on several fronts in Libya on Friday and unrest erupted in the capital when gunmen fired to break up crowds shouting "Qadhafi is the enemy of God". Vowing "victory or death", eastern-based rebels pressed home a west
Published 05 Mar, 2011 12:00am
Index gains 238.03 points

Index gains 238.03 points

Healthy trading activities were witnessed at the Karachi share market on Friday on early implementation of leverage product and strong interest of foreign investors. The KSE-100 index surged by 238.03 points and closed at the level of 12,000.03 points. Th
Published 05 Mar, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 05 Mar, 2011 12:00am
Index gains 238.03 points

Index gains 238.03 points

Healthy trading activities were witnessed at the Karachi share market on Friday on early implementation of leverage product and strong interest of foreign investors. The KSE-100 index surged by 238.03 points and closed at the level of 12,000.03 points. Th
Published 05 Mar, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 05 Mar, 2011 12:00am
Index gains 238.03 points

Index gains 238.03 points

Healthy trading activities were witnessed at the Karachi share market on Friday on early implementation of leverage product and strong interest of foreign investors. The KSE-100 index surged by 238.03 points and closed at the level of 12,000.03 points. Th
Published 05 Mar, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
BRIndex30 up by 189.35 points

BRIndex30 up by 189.35 points

On Friday, BRIndex30 opened at 8,600.00 and remained green for almost the whole trading session except for a single entry in the red near market opening. It touched an intraday high of 8,865.26 and an intraday low of 8,594.62 and closed at 8,789.35 which
Published 05 Mar, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
BRIndex30 up by 189.35 points

BRIndex30 up by 189.35 points

On Friday, BRIndex30 opened at 8,600.00 and remained green for almost the whole trading session except for a single entry in the red near market opening. It touched an intraday high of 8,865.26 and an intraday low of 8,594.62 and closed at 8,789.35 which
Published 05 Mar, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
Rabi-us-Sani moon may not be sighted today

Rabi-us-Sani moon may not be sighted today

The new Rabi-us-Sani moon may not be sighted on Saturday (today), according to astronomical parameters. Therefore, Rabi-us-Sani One, 1432 AH will fall on Monday. The moon will cross the conjunction line on (Saturday) at 0146 Pakistan Standard Time (PST).
Published 05 Mar, 2011 12:00am
Rabi-us-Sani moon may not be sighted today

Rabi-us-Sani moon may not be sighted today

The new Rabi-us-Sani moon may not be sighted on Saturday (today), according to astronomical parameters. Therefore, Rabi-us-Sani One, 1432 AH will fall on Monday. The moon will cross the conjunction line on (Saturday) at 0146 Pakistan Standard Time (PST).
Published 05 Mar, 2011 12:00am
$1.03 billion still pending: $733 million received so far under CSF

$1.03 billion still pending: $733 million received so far under CSF

Pakistan has so far received $733 million with $1.03 billion still pending under the Coalition Support Fund (CSF) disbursed by the US targeting exclusively the ongoing military operations, sources told Business Recorder here on Friday. Economic ass
Published 05 Mar, 2011 12:00am
$1.03 billion still pending: $733 million received so far under CSF

$1.03 billion still pending: $733 million received so far under CSF

Pakistan has so far received $733 million with $1.03 billion still pending under the Coalition Support Fund (CSF) disbursed by the US targeting exclusively the ongoing military operations, sources told Business Recorder here on Friday. Economic ass
Published 05 Mar, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
$1.03 billion still pending: $733 million received so far under CSF

$1.03 billion still pending: $733 million received so far under CSF

Pakistan has so far received $733 million with $1.03 billion still pending under the Coalition Support Fund (CSF) disbursed by the US targeting exclusively the ongoing military operations, sources told Business Recorder here on Friday. Economic ass
Published 05 Mar, 2011 12:00am
Budget (2011-12): up to 10 percent cut in duty slabs planned

Budget (2011-12): up to 10 percent cut in duty slabs planned

The Federal Board of Revenue is planning to bring down standard customs duty slabs of 30 and 35 percent to 20 and 25 percent, respectively, with a view to rationalising tariff in the Budget (2011-12). Sources told Business Recorder here on Friday t
Published 05 Mar, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (March 04, 2011).
Published 05 Mar, 2011 12:00am
Budget (2011-12): up to 10 percent cut in duty slabs planned

Budget (2011-12): up to 10 percent cut in duty slabs planned

The Federal Board of Revenue is planning to bring down standard customs duty slabs of 30 and 35 percent to 20 and 25 percent, respectively, with a view to rationalising tariff in the Budget (2011-12). Sources told Business Recorder here on Friday t
Published 05 Mar, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
Budget (2011-12): up to 10 percent cut in duty slabs planned

Budget (2011-12): up to 10 percent cut in duty slabs planned

The Federal Board of Revenue is planning to bring down standard customs duty slabs of 30 and 35 percent to 20 and 25 percent, respectively, with a view to rationalising tariff in the Budget (2011-12). Sources told Business Recorder here on Friday t
Published 05 Mar, 2011 12:00am
RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC's cases

RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC's cases

The Federal Board of Revenue has empowered the Commissioner Inland Revenue (Zone-I), RTO, Karachi to deal with the tax-related cases of Karachi Stock Exchange (KSE), Central Depository Company (CDC), brokers/members/agents of KSE and CDC. In this regard,
Published 05 Mar, 2011 12:00am
RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC's cases

RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC's cases

The Federal Board of Revenue has empowered the Commissioner Inland Revenue (Zone-I), RTO, Karachi to deal with the tax-related cases of Karachi Stock Exchange (KSE), Central Depository Company (CDC), brokers/members/agents of KSE and CDC. In this regard,
Published 05 Mar, 2011 12:00am
RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC''s cases

RTO Karachi: commissioner IR (Zone-I) to deal with KSE, CDC''s cases

The Federal Board of Revenue has empowered the Commissioner Inland Revenue (Zone-I), RTO, Karachi to deal with the tax-related cases of Karachi Stock Exchange (KSE), Central Depository Company (CDC), brokers/members/agents of KSE and CDC. In this regard,
Published 05 Mar, 2011 12:00am
Targeted subsidy on POL products under study: Hafeez

Targeted subsidy on POL products under study: Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government is considering introducing targeted subsidy on petroleum products if oil prices further escalate in the international market.
Published 05 Mar, 2011 12:00am
Targeted subsidy on POL products under study: Hafeez

Targeted subsidy on POL products under study: Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government is considering introducing targeted subsidy on petroleum products if oil prices further escalate in the international market.
Published 05 Mar, 2011 12:00am
Targeted subsidy on POL products under study: Hafeez

Targeted subsidy on POL products under study: Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government is considering introducing targeted subsidy on petroleum products if oil prices further escalate in the international market.
Published 05 Mar, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (March 04, 2011).

Published 05 Mar, 2011 12:00am
Cut in oil price hike notified

Cut in oil price hike notified

The government on Friday notified 50 percent reduction in oil price hike after developing consensus with coalition partner Muttahida Qaumi Movement. "After recent reduction, the government will have to bear a subsidy of Rs 9 billion during March," sources
Published 05 Mar, 2011 12:00am
Cut in oil price hike notified

Cut in oil price hike notified

The government on Friday notified 50 percent reduction in oil price hike after developing consensus with coalition partner Muttahida Qaumi Movement. "After recent reduction, the government will have to bear a subsidy of Rs 9 billion during March," sources
Published 05 Mar, 2011 12:00am
Cut in oil price hike notified

Cut in oil price hike notified

The government on Friday notified 50 percent reduction in oil price hike after developing consensus with coalition partner Muttahida Qaumi Movement. "After recent reduction, the government will have to bear a subsidy of Rs 9 billion during March," sources
Published 05 Mar, 2011 12:00am
50 percent cut against the wishes of IMF, World Bank: Malik

50 percent cut against the wishes of IMF, World Bank: Malik

Interior Minister Rehman Malik on Friday said the government opted to provide relief to masses by withdrawing 50 percent hike in POL prices against the wishes of the IMF and the World Bank. Talking to media outside Parliament House, he acknowledged that t
Published 05 Mar, 2011 12:00am
50 percent cut against the wishes of IMF, World Bank: Malik

50 percent cut against the wishes of IMF, World Bank: Malik

Interior Minister Rehman Malik on Friday said the government opted to provide relief to masses by withdrawing 50 percent hike in POL prices against the wishes of the IMF and the World Bank. Talking to media outside Parliament House, he acknowledged that t
Published 05 Mar, 2011 12:00am
50 percent cut against the wishes of IMF, World Bank: Malik

50 percent cut against the wishes of IMF, World Bank: Malik

Interior Minister Rehman Malik on Friday said the government opted to provide relief to masses by withdrawing 50 percent hike in POL prices against the wishes of the IMF and the World Bank. Talking to media outside Parliament House, he acknowledged that t
Published 05 Mar, 2011 12:00am
50 percent cut against the wishes of IMF, World Bank: Malik

50 percent cut against the wishes of IMF, World Bank: Malik

Interior Minister Rehman Malik on Friday said the government opted to provide relief to masses by withdrawing 50 percent hike in POL prices against the wishes of the IMF and the World Bank. Talking to media outside Parliament House, he acknowledged that t
Published 05 Mar, 2011 12:00am
LSE index gains 79.06 points

LSE index gains 79.06 points

Bullish trend continued for the third consecutive day on the Lahore Stock Exchange (LSE) on Friday and the equities extended further gains amid marginally decreased trading turnover. The LSE-25 index was further improved by 79.06 points and was closed at
Published 05 Mar, 2011 12:00am
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