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Archive - 2011-03-09
European stocks close down
Financial

European stocks close down

LONDON: Europe's main stock markets closed down on Wednesday, with London's FTSE 100 index of leading shares shedding 0.
Published 09 Mar, 2011 04:49pm
PCB trio miss out on contracts
Sports

PCB trio miss out on contracts

LAHORE: Pakistan's cricket authorities on Wednesday awarded central contracts to 19 players but ignored under-scrutiny f
Published 09 Mar, 2011 04:40pm
Styron planning IPO
North America

Styron planning IPO

NEW YORK: Plastics company Styron Corp is planning an initial public offering less than nine months since private equity
Published 09 Mar, 2011 04:07pm
Baghdad blast kills Iraqi army general
Top News

Baghdad blast kills Iraqi army general

BAGHDAD: A roadside bomb attack in east Baghdad killed an Iraqi army general on Wednesday while violence across the ca
Published 09 Mar, 2011 02:42pm
European shares mixed
Financial

European shares mixed

LONDON: Europe's main stock markets were mixed Wednesday as dealers reacted to easier oil prices and a batch of regional
Published 09 Mar, 2011 02:18pm
Qadhafi plane overflies Greece
Top News

Qadhafi plane overflies Greece

ATHENS: A private plane belonging to embattled Libyan leader Moamar Qadhafi with unknown passengers aboard crossed Greek
Published 09 Mar, 2011 11:01am
Australia set for uranium talks with UAE
Top News

Australia set for uranium talks with UAE

SYDNEY: Australia said Wednesday it will soon begin talks with the United Arab Emirates to pave the way for uranium sa
Published 09 Mar, 2011 10:03am
Five men injured in Loti landmine blast
Top News

Five men injured in Loti landmine blast

QUETTA: In another incident around five people were injured when their vehicle hit a landmine placed on the road in Loti
Published 09 Mar, 2011 08:54am
Naek, Jan Jamali condemns Peshawar blast
Top News

Naek, Jan Jamali condemns Peshawar blast

ISLAMABAD: Chairman Senate Farooq H. Naek and Deputy Chairman Mir Jan Jamali have condemned the blast occurred in Adezai
Published 09 Mar, 2011 08:49am
Tajik President arrives in Karachi
Top News

Tajik President arrives in Karachi

KARACHI: The President of the Republic of Tajikistan, Emonali Rahmon, arrived on Wednesday from Islamabad on a two-day
Published 09 Mar, 2011 08:44am
Libyan forces pound rebels
Top News

Libyan forces pound rebels

RAS LANUF: Forces loyal to Libyan leader Moamer Qadhafi launched air strikes on rebel positions as the United States sai
Published 09 Mar, 2011 07:28am
Major 7.3 offshore quake jolts Japan
Top News

Major 7.3 offshore quake jolts Japan

TOKYO : A major 7.3-magnitude offshore earthquake rattled Japan on Wednesday, swaying Tokyo buildings, triggering a
Published 09 Mar, 2011 06:19am
Dollar rises against euro
Financial

Dollar rises against euro

TOKYO: The dollar rose against the euro in Asia on Wednesday as oil prices eased, with the single currency overshadowed
Published 09 Mar, 2011 06:04am
India car sales jump 23pc
Industry

India car sales jump 23pc

MUMBAI: Car sales in India jumped nearly 23 percent in February from a year earlier, industry data showed Wednesday, as
Published 09 Mar, 2011 05:44am
Double, double oil and trouble
BR Research

Double, double oil and trouble

It is official - the oil price rise is real and here to stay for much longer than what others might have thought when the Middle East crisis
Published 09 Mar, 2011 12:00am
Farming tax
BR Research

Farming tax

Its nice to see somebody from the government finally speaking up on the failure in taxing farm income so far. Media reports suggest that the
Published 09 Mar, 2011 12:00am
Importing electricity from Tajikistan: PMKM opposes proposed agreement

Importing electricity from Tajikistan: PMKM opposes proposed agreement

Pakistan Muthida Kisan Mahaz (PMKM) Chairman Muhammad Ayub Khan Mayo opposing the proposed agreement of importing electricity from Tajikistan has termed it against the national interest. He said that the government should take advantage of our available w
Published 09 Mar, 2011 12:00am
Justice Sair hospitalised

Justice Sair hospitalised

Justice Sair Ali, judge of the Supreme Court, was admitted to the Armed Forces Institute of Cardiology (AFIC) Rawalpindi due to cardiac problem on Tuesday. According to sources, Justice Sair Ali felt the cardiac problem during the proceeding of a case in
Published 09 Mar, 2011 12:00am
President for taking Pak-Tajik bilateral cooperation to new heights

President for taking Pak-Tajik bilateral cooperation to new heights

President Asif Ali Zardari Tuesday urged for taking Pak-Tajik bilateral co-operation to new heights with focus on trade and investment, infrastructure development and increased road, rail and air connectivity between the two countries.
Published 09 Mar, 2011 12:00am
Clarification

Clarification

Apropos news item "OGDCL employees to go on strike today" carried by Business Recorder on Monday the Officers' Association totally refuses and disowns the news. The subject news is totally based on disinformation and fabricated by the reporter conc
Published 09 Mar, 2011 12:00am
Islamabad Police submit challans of 830 cases

Islamabad Police submit challans of 830 cases

Islamabad Police have submitted challans of 830 cases into courts after completing investigation during the first two months of the current year and a total of 30 fake cases were also dislodged and legal action under section 182 PPC is underway against th
Published 09 Mar, 2011 12:00am
Loans for Rabi crops 2011: PPCB extends date till March 15

Loans for Rabi crops 2011: PPCB extends date till March 15

Punjab Provincial Co-operative Bank Ltd has extended last date of loans for Kharif crops 2011 till March 15, Registrar PPCBL Mohammad Khan Khichi said here on Tuesday. The PPCBL management has instructed the field staff to complete issuance of targeted lo
Published 09 Mar, 2011 12:00am
Sympathy votes as winning tool

Sympathy votes as winning tool

History tells us that PPP stalwarts used Bhutto's sacrifices as a sympathy filled emotional tool to win the elections. After coming to power, their relentless corruption's become a powerful reason to lose that very tool and thus the upcoming elections, th
Published 09 Mar, 2011 12:00am
33 percent water supply schemes non-functional due to paucity of funds

33 percent water supply schemes non-functional due to paucity of funds

Survey conducted by Pakistan Council of Research in Water Resources (PCRWR) on Tuesday revealed that 33% water supply schemes are non-functional due to insufficient funds. According to official data available, out of 12,000 water supply schemes to be comp
Published 09 Mar, 2011 12:00am
Five killed in separate incidents

Five killed in separate incidents

At least five persons including a minor boy were killed in separate incidents in various parts of the metropolis here on Tuesday. According to details, a two-year-old boy drowned in water tank of his house located in Macchar Colony in the limits of Docks
Published 09 Mar, 2011 12:00am
Power, gas, water bills: KATI demands 30 percent concession

Power, gas, water bills: KATI demands 30 percent concession

Chairman, Korangi Association of Trade and Industry (KATI), Syed Johar Ali Qandhari has demanded the government to allow 30 percent concession on power, gas and water bills for industries. He said that power tariff has registered around 104 percent in the
Published 09 Mar, 2011 12:00am
Students debate their future on Kya Karein?

Students debate their future on Kya Karein?

BBC Urdu has planned to bring to the fore the voices and views of students from universities across Pakistan. Webcast on bbcurdu.com from Saturday 19 March, the 13-part weekly series, Kya Karein? (What to Do?), will debate key issues facing the Pakistani
Published 09 Mar, 2011 12:00am
IBA congratulates IBAians

IBA congratulates IBAians

Institute of Business Administration Karachi (IBA) congratulates IBAians on the registration of the Alumni Association of IBA graduates as their sole representative body. IBA hopes that the Alumni Association will play its role in not only bonding the rel
Published 09 Mar, 2011 12:00am
APMA observes protest day against minister's murder

APMA observes protest day against minister's murder

All Pakistan Minority Alliance (APMA) on Monday observed protest day across the country on the failure of law enforcing agencies in the apprehension of killers of former minister Shahbaz Bhatti. Members of civil society, human rights activists and citizen
Published 09 Mar, 2011 12:00am
Fauji Foundation sponsored Renewable Energy (Wind) Project kicks off

Fauji Foundation sponsored Renewable Energy (Wind) Project kicks off

Fauji Founda-tion today, entered into an agreement for equity commitments of approximately PKR 6 billion (of which approx. USD 20 million is being provided as Foreign Direct Investment) by CapAsia Singapore through the Islamic Infrastructure Fund managed
Published 09 Mar, 2011 12:00am
VP Karachi Peace Jirgah gunned down

VP Karachi Peace Jirgah gunned down

Vice President of Karachi Peace Jirgah Roidad Khan was gunned down in the limits of Gulshan Iqbal police station on late Monday. According to details, two unknown armed pillion riders fired multiple shots on him when he was going on his Parado BD-7705 alo
Published 09 Mar, 2011 12:00am
Killers of Bhatti should be punished: LHCBA

Killers of Bhatti should be punished: LHCBA

Lahore High Court Bar Association (LHCBA) has demanded of the government to give exemplary punishment to killers of Shahbaz Bhatti. The bar also declared Interior Minister, Rehman Malik a security risk and demanded his removal. The bar in a unanimous reso
Published 09 Mar, 2011 12:00am
Khyber Pakhtunkhwa to set up handicraft centre soon

Khyber Pakhtunkhwa to set up handicraft centre soon

Khyber Pakhtunkhwa Minister for Sports and Youth Affairs, Syed Aqil Shah has said that a handicraft centre would be established in Peshawar wherein free of cost space would be provided to craftsmen of the province.
Published 09 Mar, 2011 12:00am
Zardari pays tribute to Shahbaz Bhatti

Zardari pays tribute to Shahbaz Bhatti

President Asif Ali Zardari paid glowing tributes to late Shahbaz Bhatti, saying that the sacrifice rendered by him for promoting interfaith harmony and tolerance will not go in vain and will be remembered for a very long time.
Published 09 Mar, 2011 12:00am
Mango orchards hit by virus

Mango orchards hit by virus

The mango orchards of southern Punjab have been under the threat of 'quick decline virus' from the last few months due to which their production is declining day by day. Mango orchard owners in Multan, Bahawalpur, Dera Ghazi Khan, Rahim Yar Khan, Muzaffar
Published 09 Mar, 2011 12:00am
Commodity operations: government making a big mistake

Commodity operations: government making a big mistake

Some of the economic problems of the country owe their origin to poor policy formulation in the past. One of them is the continuous intervention of the government to influence the price behaviour of various agricultural commodities in order to please cert
Published 09 Mar, 2011 12:00am
Turf tussles

Turf tussles

Talking to journalists in Lahore the other day, Prime Minister Syed Yousuf Raza Gilani averred that no institution except the Parliament has the right to rewrite the Constitution, and that all institutions should work within their ambit. Of course, there
Published 09 Mar, 2011 12:00am
The 10-point agenda - I: Petroleum pricing

The 10-point agenda - I: Petroleum pricing

I would like to offer a few thoughts on some of the ten points that were the subject of deliberations among the two mainstream political parties, namely prices of Energy and of Essential items and the reduction in government expenditure. There may not be
Published 09 Mar, 2011 12:00am
FDI has been beneficial to Pakistan?

FDI has been beneficial to Pakistan?

Foreign Direct Investment (FDI) is generally considered a litmus test for the strength of a country's economy as well as an indicator of its political stability. After all, if foreigners are willing to risk their capital in an alien environment, then thin
Published 09 Mar, 2011 12:00am
Thailand tires of six-decade Karen conflict

Thailand tires of six-decade Karen conflict

The Thai-Myanmar Friend-ship Bridge has been closed to traffic since July 12, an indication that not all is well in the Thai-Myanmar relationship. Myanmar's military regime closed the bridge to tourism and trade eight months ago, claiming that Thailand wa
Published 09 Mar, 2011 12:00am
Punjab University students celebrate International Women's Day

Punjab University students celebrate International Women's Day

Chairperson, Department of Gender Studies, Punjab University, Dr Samar Fatima led a walk on Tuesday in connection with International Women's Day. A large number of students and faculty members participated in the walk, which started from the department an
Published 09 Mar, 2011 12:00am
Women's Day has no importance for Kashmiri women

Women's Day has no importance for Kashmiri women

The International Women's Day has no importance for the Occupied Kashmiri women as they have been the worst victims of rights violations by Indian troops in the territory for the last 64 years. Seminars and functions are held to mark the day but most wome
Published 09 Mar, 2011 12:00am
Speakers demand equal employment opportunities for women

Speakers demand equal employment opportunities for women

Pakistan Workers Federation held the national conference of women trade union representatives and workers here on Tuesday to commemorate the International Women Day. The participants vowed to strengthen the struggle for promotion of gender equality and el
Published 09 Mar, 2011 12:00am
Need stressed to analyse, understand women empowerment issues

Need stressed to analyse, understand women empowerment issues

The issue of empowering women has been a focal point of discussion at different levels. Obviously one tries to understand these issues with regard to different groups of women. The diversities in women's conditions whether they are cultural, social, relig
Published 09 Mar, 2011 12:00am
Role of women in society highlighted

Role of women in society highlighted

Sindh Minister for Social Welfare, Nargis N.D. Khan, has said that women are important part of the society and that they have responsibilities of bringing up, training of our coming generations. This she stated while addressing as a chief guest at a cerem
Published 09 Mar, 2011 12:00am
International Women's Day observed

International Women's Day observed

International Women's Day was observed in Multan on Tuesday with a theme 'Equal access to education, training and science and technology: pathway to decent work for women.' NGOs and civil society organisation staged demonstration in which hundreds of wome
Published 09 Mar, 2011 12:00am
'ANP always struggled for women's rights'

'ANP always struggled for women's rights'

Khyber Pakhtunkhwa Minister for Information, Public Relations and Culture, Mian Iftikhar Hussain has said his party has always struggled for the socio-economic rights of womenfolk. He further said that great Pakhtun leaders had brought their women into th
Published 09 Mar, 2011 12:00am
Women's Day observed at IDPs camp

Women's Day observed at IDPs camp

Women and girls from Bajaur Agency observed World Women Rights Day at Jalozai's Internally Displaced Persons camp. In this connection, Pakistan Village Development Programme organised a walk in collaboration with United Nations Children's Fund (Unicef). A
Published 09 Mar, 2011 12:00am
Kharif season: Irsa body meeting to discuss availability of water

Kharif season: Irsa body meeting to discuss availability of water

Indus River System Authority (IRSA) advisory committee is likely to meet on March 25 to access the availability of water for the coming Kharif season, Rao Irshad Ali Khan, Chairman IRSA said while talking to media persons on the sidelines of a Roundtable
Published 09 Mar, 2011 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

Gold dropped below $1,430 an ounce on Tuesday, falling further away from the previous day's record high as easing crude oil prices on expectations of higher Opec production dragged bullion and other commodities lower. Spot gold fell 0.3 percent to $1,425.
Published 09 Mar, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper ended higher on Tuesday, bouncing up from a two-week low as a pullback in crude oil prices eased concerns about inflation and allowed traders to focus on longer-term demand prospects. "The driving force behind copper is demand, and I think will con
Published 09 Mar, 2011 12:00am
US MIDDAY: grains down

US MIDDAY: grains down

Grain futures at the Chicago Board of Trade were lower on Tuesday, with soybean futures leading the losses on expectations of a robust harvest in Brazil, traders said. Corn futures were pressured by a firm dollar and technical selling, with sell-stops see
Published 09 Mar, 2011 12:00am
US MIDDAY: arabicas rally to 34-year peak

US MIDDAY: arabicas rally to 34-year peak

US arabica coffee futures climbed to a 34-year peak Tuesday on the back of scarce bean supplies, and analysts said that could push prices even higher in the coming weeks. Cocoa eased, but stayed close to a 32-year high as civil war in top grower Ivory Coa
Published 09 Mar, 2011 12:00am
Gold eases below $1,430 in European trade

Gold eases below $1,430 in European trade

Gold eased below $1,430 an ounce on Tuesday, falling further away from the previous day's record high after crude oil prices slid, thereby alleviating some of the concern about a potential oil shock to the global economy. Gold has risen 8.5 percent in the
Published 09 Mar, 2011 12:00am
Gold falls in Asia

Gold falls in Asia

Gold pared early gains on Tuesday and slipped below a record high hit in the previous session as oil prices fell, but a rebound in ETF holdings suggested that investors remained jittery about unrest in North Africa and the Middle East. Spot gold fell $2.8
Published 09 Mar, 2011 12:00am
US gold rises

US gold rises

US gold futures ended higher on Monday, after rallying to a record high, as oil prices pulled back sharply and safe-haven buying eroded amid speculation that Libyan leader Muammar Gaddafi was seeking a deal to leave the country. April gold futures settled
Published 09 Mar, 2011 12:00am
New York coffee hits new 34-year top

New York coffee hits new 34-year top

Arabica coffee futures soared to a 34-year high Monday on investment fund buying as tight supplies and a paucity of producer sales ignited the market's most powerful rally since the end of January. Cocoa futures moved higher as fighting escalated in top p
Published 09 Mar, 2011 12:00am
Liffe coffee jumps

Liffe coffee jumps

Liffe May robusta coffee ends up $59 at $2,462 a tonne on Tuesday after earlier rising to a three-year high for the second month of $2,466. Rise driven primarily by ICE arabicas which surged to a 34-year peak for a second straight day on Tuesday. Liffe Ma
Published 09 Mar, 2011 12:00am
Malaysian palm oil tumbles

Malaysian palm oil tumbles

Malaysian crude palm oil dropped as much as 3.4 percent on Tuesday as a rally in crude oil lost some steam, while prospects of a strong South American soy crop also weighed on sentiment. Traders seized the opportunity to book profits ahead of a key price
Published 09 Mar, 2011 12:00am
US soyabean plummets

US soyabean plummets

Soyabeans futures at the Chicago Board of Trade fell sharply on Monday amid prospects of a bumper crop in South America, traders said. May soyabeans fell for the first time in five sessions, the biggest one-day drop in nearly two weeks. Soymeal and soyoil
Published 09 Mar, 2011 12:00am
Oil slips on Opec output talk

Oil slips on Opec output talk

Oil prices slipped on Tuesday, with Brent falling nearly 2 percent, after Kuwait's oil minister said Opec was considering a production boost as war-torn Libya's output remained disrupted and the region's unrest fuelled concerns about more supplies being c
Published 09 Mar, 2011 12:00am
Copper up from two-week lows

Copper up from two-week lows

Copper rose on Tuesday as industrial users pushed back into the market attracted by the lowest levels in two weeks, but high oil prices due to the Libya crisis kept up concerns over economic growth and demand. Three-month copper on the London Metal Exchan
Published 09 Mar, 2011 12:00am
Shanghai copper tumbles

Shanghai copper tumbles

Shanghai copper tumbled more than five percent on Tuesday and posted its sharpest daily drop in more than three months, triggered by stop-loss selling, as the Libyan crisis kept market sentiment brittle over the global economic recovery. Shanghai zinc fel
Published 09 Mar, 2011 12:00am
US copper crumbles

US copper crumbles

Copper suffered its biggest one-day decline in nearly four months on Monday, as rising oil prices and geopolitical instability fanned recovery doubts. Chinese measures to tackle inflationary pressures also dimmed demand prospects. COMEX copper for May del
Published 09 Mar, 2011 12:00am
Tokyo rubber futures slump

Tokyo rubber futures slump

Tokyo rubber futures tumbled 8.7 percent to the lowest in more than two months on Tuesday, tracking falls in oil prices, with heavy stop-loss selling adding to the pressure, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for A
Published 09 Mar, 2011 12:00am
New York cotton ends daily limit down

New York cotton ends daily limit down

US cotton futures finished the daily limit down on Tuesday on investor liquidation as the mill and speculative buying which powered the market to record highs dried up for the moment, analysts said. The key May cotton contract on ICE Futures US fell the 7
Published 09 Mar, 2011 12:00am
Women's Day shines harsh light on 'femicide'

Women's Day shines harsh light on 'femicide'

International Women's Day marked its 100th year Tuesday with protests against "femicide" in its various forms around the world - from honour killings in Turkey to wanton violence in Guatemala to the deadly crushing of a women's rally in Ivory Coast.
Published 09 Mar, 2011 12:00am
Iran opposes long-term US presence in Afghanistan

Iran opposes long-term US presence in Afghanistan

Iran's interior minister spoke out against a long-term US military presence in Afghanistan Tuesday, as the American Defence Secretary Robert Gates visited his country's troops in the warring country. "(Iran) is definitely against the deployment, presence
Published 09 Mar, 2011 12:00am
India's Congress strikes deal with ally, crisis over

India's Congress strikes deal with ally, crisis over

India's ruling Congress party struck a deal on Tuesday with a key ally in a row over seat-sharing in a state election, ending days of jitters over the stability of a government already hit by a series of crises. The decision by the Dravida Munnetra Kazagh
Published 09 Mar, 2011 12:00am
EU strikes deal to sanction sovereign Libya fund

EU strikes deal to sanction sovereign Libya fund

The European Union agreed Tuesday to slap new sanctions on Libyan leader Moamer Kadhafi's regime, notably targeting the Libyan Investment Authority (LIA) - the overseas investment vehicle for Tripoli's oil revenues. The new sanctions on five economic "ent
Published 09 Mar, 2011 12:00am
EU strikes deal to sanction sovereign Libya fund

EU strikes deal to sanction sovereign Libya fund

The European Union agreed Tuesday to slap new sanctions on Libyan leader Moamer Kadhafi's regime, notably targeting the Libyan Investment Authority (LIA) - the overseas investment vehicle for Tripoli's oil revenues. The new sanctions on five economic "ent
Published 09 Mar, 2011 12:00am
Kyrgyz president wins US women's award

Kyrgyz president wins US women's award

Kyrgyz President Roza Otunbayeva on Tuesday became the first woman to receive one of 10 International Women of Courage awards given out by the US State Department. The other recipients of the 2011 award are Maria Bashir, the prosecutor general in Afghanis
Published 09 Mar, 2011 12:00am
Gates sees 'acid test' ahead in Afghanistan war

Gates sees 'acid test' ahead in Afghanistan war

US Defence Secretary Robert Gates touted progress on a visit to southern Afghanistan Tuesday but said Nato forces will soon face an "acid test" as Taliban insurgents move to seize back ground. In a tour of pivotal battlegrounds, Gates said he came away en
Published 09 Mar, 2011 12:00am
Gaddafi forces strike back in west, east

Gaddafi forces strike back in west, east

Libyan government forces attacked rebels with rockets, tanks and warplanes on western and eastern fronts, intensifying their offensive to crush the revolt against Muammar Gaddafi. Rising casualties and the threats of hunger and a refugee crisis increased
Published 09 Mar, 2011 12:00am
Reshuffle fails to quell Omani protests

Reshuffle fails to quell Omani protests

Omanis protesting against corruption said Tuesday they would not be mollified by a major cabinet reshuffle in which more than a third of the sultanate's ministers were sacked or shifted. Sultan Qaboos announced Monday a new cabinet of 29 ministers in resp
Published 09 Mar, 2011 12:00am
East-West military gap rapidly shrinking

East-West military gap rapidly shrinking

Western cuts and swiftly rising defence spending in emerging economies are redrawing the global strategic map, a leading think-tank said on Tuesday, with the danger of conflicts between states also rising. In its annual Global Military Balance report, the
Published 09 Mar, 2011 12:00am
Kuwait protesters bring reform demands to streets

Kuwait protesters bring reform demands to streets

Protesters gathered outside Kuwait's main government building Tuesday to demand sweeping changes on how the oil-rich country is run as another Gulf state joined the surge for reforms around the Arab world. Security forces stood by as hundreds of demonstra
Published 09 Mar, 2011 12:00am
Yunus loses appeal

Yunus loses appeal

Muhammad Yunus, the Bangladeshi winner of the 2006 Nobel peace prize, on Tuesday lost a high court appeal after being sacked from his own bank in a bitter clash with the country's authorities. Yunus, 70, who is celebrated world-wide for tackling poverty t
Published 09 Mar, 2011 12:00am
Rafsanjani ousted as head of state body

Rafsanjani ousted as head of state body

Former Iranian President Akbar Hashemi Rafsanjani lost his position as head of an important state clerical body on Tuesday, a move which tightens the hard-liners' grip on power. The defeat for one of the great survivors of Iranian politics since the 1979
Published 09 Mar, 2011 12:00am
Germany's parliament hit by power outage

Germany's parliament hit by power outage

Germany's parliamentary complex in Berlin suffered an electricity failure on Tuesday, with aides saying the outage - probably caused by a damaged supply cable - would last for hours. A parliamentary spokeswoman said the Reichstag Building, containing the
Published 09 Mar, 2011 12:00am
New Zealand beat Pakistan

New Zealand beat Pakistan

Stand-in skipper Ross Taylor batting blitz helped down Pakistan in the Group A match of World Cup 2011 at the Pallekele stadium on Tuesday. Taylor celebrated his 27th birthday by smashing 131 in 124 balls with a whopping seven sixes to take his side to a
Published 09 Mar, 2011 12:00am
New Zealand beat Pakistan

New Zealand beat Pakistan

Stand-in skipper Ross Taylor batting blitz helped down Pakistan in the Group A match of World Cup 2011 at the Pallekele stadium on Tuesday. Taylor celebrated his 27th birthday by smashing 131 in 124 balls with a whopping seven sixes to take his side to a
Published 09 Mar, 2011 12:00am
Dhoni wants easy ride against Dutch

Dhoni wants easy ride against Dutch

India captain Mahendra Singh Dhoni wants to have an easy game against the Netherlands on Wednesday after surviving some anxious moments at the World Cup. The Indians cantered to an 87-run victory against Bangladesh followed by a high-scoring tie with Engl
Published 09 Mar, 2011 12:00am
Bangladesh ban players' columns after Shakib row

Bangladesh ban players' columns after Shakib row

Bangladesh cricket chiefs have ordered World Cup players not to write newspaper columns after a public spat involving skipper Shakib Al Hasan, local media said on Tuesday. Shakib, writing in a prominent Dhaka-based Bengali newspaper, had slammed former pl
Published 09 Mar, 2011 12:00am
Broad returns

Broad returns

Fast bowler Stuart Broad joined star batsman Kevin Pietersen on the World Cup sidelines on Tuesday, the second injury blow for England on successive days. Broad was ruled out of the rest of the tournament due to a side strain he picked up during his four-
Published 09 Mar, 2011 12:00am
Ticket-hungry India fans 'baton-charged'

Ticket-hungry India fans 'baton-charged'

Ticket-hungry fans, desperate to see India's World Cup clash against South Africa on Saturday, were baton-charged by police as they queued, witnesses said on Tuesday. The clashes happened outside the Vidarbha Cricket Association offices, as police struggl
Published 09 Mar, 2011 12:00am
Chairman NICL: concerns voiced over absence

Chairman NICL: concerns voiced over absence

National Insurance Company Ltd (NICL) Employees Union (CBA) has expressed concern over the absence of a permanent chairman and board of directors in the company. In a joint statement, here on Tuesday, Gul Mohammad Sud, President and Rahim Gul, General Sec
Published 09 Mar, 2011 12:00am
Establishment of PIA Foundation demanded

Establishment of PIA Foundation demanded

Pakistan International Airlines Retired Employees Association (PIAREA) has demanded establishment of PIA Foundation so that the retired employees and their children and dependents could be provided respectful employment. Addressing monthly meeting of the
Published 09 Mar, 2011 12:00am
CDGK to construct 30 pedestrian bridges

CDGK to construct 30 pedestrian bridges

The City District Government Karachi (CDGK) has planned to construct 30 pedestrian bridges in Karachi, Business Recorder was informed here on Tuesday. According to official sources the CDGK would construct 30 pedestrian bridges at various locations
Published 09 Mar, 2011 12:00am
US congressional hearing on 'Muslim terrorism' criticised

US congressional hearing on 'Muslim terrorism' criticised

"The United States needs to single out terrorists, not Muslims," commented Syed Jawaid Iqbal, Chairman Moderates. He shared his views in response to an upcoming US congressional hearing on Islamic radicalism and Muslims' role in home-grown terrorism, whic
Published 09 Mar, 2011 12:00am
PSAA, shipping companies react to FPCCI's allegations

PSAA, shipping companies react to FPCCI's allegations

Ship agents and shipping companies have reacted sharply over the Federation of Pakistan Chambers of Commerce and Industry's (FPCCI's) allegations that shipping companies are involved in "malpractices which are hitting exports and resulting in harassment o
Published 09 Mar, 2011 12:00am
Government begins working on NEGS for economic uplift

Government begins working on NEGS for economic uplift

Although a belated move, the government has started working on a New Economic Growth Strategy (NEGS) to give the country a new paradigm to replace the conventional initiatives for economic uplift of the country. Ministry of Commerce intends to formulate i
Published 09 Mar, 2011 12:00am
KCCI, TUSKON sign MoU in Istanbul

KCCI, TUSKON sign MoU in Istanbul

President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Saeed Shafiq and Vice President Confederation of Businessmen and Industrialists of Turkey (TUSKON) Ahmed Cigar, signed Memorandum of Understanding/Agreement of Co-operation at Istanbul for
Published 09 Mar, 2011 12:00am
CDGK employees yet to get salaries

CDGK employees yet to get salaries

Despite the orders issued by DCO Karachi Muhammad Hussain Saeed, the City District Government employees are still waiting for their salaries to be released, Business Recorder was told here on Tuesday. Under the DCO directives, the salaries of the e
Published 09 Mar, 2011 12:00am
FPCCI to establish training institute

FPCCI to establish training institute

Vice President, Saarc Chamber of Commerce and Industry, Iftikhar Ali Malik has said that Federation of Pakistan Chambers of Commerce and Industry (FPCCI) intend to establish a state-of-the-art institute for training government officials and businessmen.
Published 09 Mar, 2011 12:00am
EU watchdog readies bank test, markets eye capital

EU watchdog readies bank test, markets eye capital

The European Union's powerful new banking watchdog is preparing an extensive test of European lenders' ability to withstand future financial crises, documents from the watchdog showed on Tuesday.
Published 09 Mar, 2011 12:00am
Geithner urges 'balance' from Europe on crisis steps

Geithner urges 'balance' from Europe on crisis steps

US Treasury Secretary Timothy Geithner urged Europe on Tuesday to strike a balance between tough fiscal reforms and financial support for troubled member states ahead of two crucial EU summits to resolve the bloc's debt crisis. Geithner was on an unusual
Published 09 Mar, 2011 12:00am
Boeing wins $10 billion deal from Chinese airlines

Boeing wins $10 billion deal from Chinese airlines

Boeing Co sealed deals worth $10 billion with two airlines in China, the world's fastest growing market that is likely to buy more than 2,000 aircraft over the next five years. China expects to order 1,100 new transport aircraft and 1,000 general aviation
Published 09 Mar, 2011 12:00am
UK's retail sales drop, house price falls slow

UK's retail sales drop, house price falls slow

British retail sales fell at the fastest pace in almost a year, house prices continued to drop and firms expect to hire only a small number of extra staff, data showed on Tuesday, implying a slow and tentative recovery. The downbeat message from the three
Published 09 Mar, 2011 12:00am
Romania adopts IMF-backed labour reform

Romania adopts IMF-backed labour reform

Romania's coalition government adopted a new IMF-backed labour code on Tuesday to spur job creation in its recession-bound economy, and looked set to steer it through a parliamentary confidence vote next week. The changes aim to streamline labour legislat
Published 09 Mar, 2011 12:00am
Thousands strike at Vietnam Yamaha plant

Thousands strike at Vietnam Yamaha plant

Thousands of workers at a Yamaha motorcycle factory in Vietnam were on strike Tuesday demanding higher pay and benefits, a company official said, as consumers struggle with double-digit inflation. About 3,000 employees from the Yamaha Motor plant in Hanoi
Published 09 Mar, 2011 12:00am
Huge jump in China-Germany trade in 2010

Huge jump in China-Germany trade in 2010

Trade between Germany and China registered a hefty jump last year, with Beijing becoming Berlin's third-largest trading partner and biggest overall provider of imports, data released Tuesday showed. Bilateral trade between the world's two biggest exporter
Published 09 Mar, 2011 12:00am
IMF to focus more on jobs amid Middle East turmoil

IMF to focus more on jobs amid Middle East turmoil

The International Monetary Fund is rethinking how it reviews national economies after being criticised for glossing over high unemployment in countries such as Egypt where it led to political uprisings. John Lipsky, the IMF's first deputy managing directo
Published 09 Mar, 2011 12:00am
McDonald's sales up globally

McDonald's sales up globally

McDonald's Corp said global sales at established restaurants in February rose 3.9 percent, as strong sales in Europe helped offset a US market that was hit by high unemployment and rising gasoline prices. February sales at restaurants open at least 13 mon
Published 09 Mar, 2011 12:00am
McDonald's sales up globally

McDonald's sales up globally

McDonald's Corp said global sales at established restaurants in February rose 3.9 percent, as strong sales in Europe helped offset a US market that was hit by high unemployment and rising gasoline prices. February sales at restaurants open at least 13 mon
Published 09 Mar, 2011 12:00am
EADS executives briefed US on internal feud: WikiLeaks

EADS executives briefed US on internal feud: WikiLeaks

A litany of back-stabbing at Europe's top aerospace group is exposed in leaked US cables, which show American diplomats avidly collecting details on the cracks in US planemaker Boeing's main rival. Dozens of pages of diplomatic reports reveal how feuding
Published 09 Mar, 2011 12:00am
Single euro patent battle hits legal buffer

Single euro patent battle hits legal buffer

A decades-long battle to allow companies to register patents just once across the single European market suffered a major setback Tuesday with a damaging EU court judgement. The ruling comes just two days before 25 European Union states were to meet and g
Published 09 Mar, 2011 12:00am
Opec mulls boosting output, Iran sees no need

Opec mulls boosting output, Iran sees no need

Opec oil producers are consulting about a supply boost but many in the group remain sceptical, saying high prices are due to fears of shortage and world supply is comfortable despite the loss of Libyan crude. The Organisation of the Petroleum Exporting Co
Published 09 Mar, 2011 12:00am
Yuan retreats

Yuan retreats

The yuan closed lower from record highs against the dollar on Tuesday, after the People's Bank of China set the mid-point slightly weaker. Chinese leaders are attending the annual parliament session in Beijing, and traders say the central bank may wish to
Published 09 Mar, 2011 12:00am
Baht, won rise

Baht, won rise

The Thai baht and the South Korean won rose against the dollar on Tuesday before central banks' rate meetings there later this week while caution over dollar-buying intervention by Asian authorities kept regional currencies in a tight range. The Bank of T
Published 09 Mar, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Tuesday, brushing off local equities gains, weighed by bleak outlook on global crude prices, a weak euro and the dollar's rise against major currencies. The partially convertible rupee weakened to close at 45.0750/0850 per dol
Published 09 Mar, 2011 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc dropped against both the euro and the dollar on Tuesday, with risk aversion among investors taking a back seat on reports Libyan leader Muammar Gaddafi was looking for a way to step down. The franc was down 0.6 percent against the euro com
Published 09 Mar, 2011 12:00am
New Zealand dollar steadier, Aussie lacklustre

New Zealand dollar steadier, Aussie lacklustre

The New Zealand dollar found a steadier footing on Tuesday following a recent selloff, but markets remained cautious ahead of a possible rate cut by the Reserve Bank of New Zealand this week. The kiwi was hemmed in a wafer-thin range between $0.7368-$0.73
Published 09 Mar, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 71.40/71.55 (previous 71.50/71.50). Call Money Rates: 11.00-12.00 percent (previous 11.00-12.00 percent).
Published 09 Mar, 2011 12:00am
Euro stumbles in New York

Euro stumbles in New York

The euro stumbled on Monday after its recent rally against the dollar as sovereign debt worries returned, but expectations for higher euro zone interest rates should continue to favour the currency. The euro early in the day rose to a four-month high agai
Published 09 Mar, 2011 12:00am
Early trade in New York: Euro keeps falling

Early trade in New York: Euro keeps falling

The euro slipped against the dollar for a second day on Tuesday as investors considered what higher eurozone interest rates will mean for peripheral euro nations already struggling with fiscal problems. The euro fell 0.4 percent to $1.3908, extending a re
Published 09 Mar, 2011 12:00am
Euro slips in London

Euro slips in London

The euro slipped versus the dollar on Tuesday, pausing from a rally spurred by expectations of a euro zone interest rate rise and raising the possibility of a downward correction on concerns about euro zone debt problems. The dollar jumped as much as 1 pe
Published 09 Mar, 2011 12:00am
Euro edges up in Asia

Euro edges up in Asia

The euro edged higher on Tuesday but crowded bets on the currency could cause a near-term decline before it is able to take another shot at its November peak just above $1.4280. One gauge of market positioning shows that currency speculators have ramped u
Published 09 Mar, 2011 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against a rebounding US dollar on Tuesday as investors unwound long positions, although it edged up against the euro as sovereign debt worries put the single currency under pressure. Expectations that the European Central Bank will raise int
Published 09 Mar, 2011 12:00am
Euro rates near two-year high

Euro rates near two-year high

Euro interbank lending rates hit their highest in almost two years on Tuesday but some analysts questioned whether the market has gone too far in pricing in a series of rises in official lending rates. The shock sign from the European Central Bank last we
Published 09 Mar, 2011 12:00am
FTSE ekes out small gain, eyes 6,000 level

FTSE ekes out small gain, eyes 6,000 level

A late afternoon rally nudged Britain's top share index into positive territory on Tuesday, as investors eyed geopolitical turmoil in the Arab world and favoured defensive stocks. The FTSE 100 closed 0.98 point firmer at 5,974.76, having flirted with the
Published 09 Mar, 2011 12:00am
Telecoms boost European shares

Telecoms boost European shares

European shares ended higher on Tuesday as a decline in crude oil prices eased concerns about the pace of global economic recovery, though technicals suggest short-term gains could be limited. A jump in Deutsche Telekom on renewed talk that the company an
Published 09 Mar, 2011 12:00am
Seoul shares gain

Seoul shares gain

Seoul shares ended up 0.8 percent after volatile trade on Tuesday, lifted by shipbuilders and financials, but falls in technology plays like Samsung Electronics dented upside momentum. The Korea Composite Stock Price Index finished up 16.05 points at 1,99
Published 09 Mar, 2011 12:00am
Hong Kong shares rise, Shanghai flat

Hong Kong shares rise, Shanghai flat

Hong Kong shares rose on Tuesday helped by a late rally in shares of heavyweight HSBC while mainland banks looked poised for further gains after China reversed reserve requirements for certain banks. China reversed punitive reserve requirements imposed on
Published 09 Mar, 2011 12:00am
Indian shares soar

Indian shares soar

Indian shares firmed 1.2 percent on Tuesday, taking comfort from a drop in oil prices, while a key ally of the coalition government put off a move to quit the cabinet, helping Asia's third-largest economy win back some investor confidence. The 30-share BS
Published 09 Mar, 2011 12:00am
Southeast Asian markets: Thai index at six-week highs

Southeast Asian markets: Thai index at six-week highs

Southeast Asian stock markets rose on Tuesday as hopes of higher oil output from producers revived risk appetite and bargain hunters bought Thai banks on expectations of higher interest rates. Kuwait's oil minister said Opec was in talks to boost producti
Published 09 Mar, 2011 12:00am
Longer-dated Treasuries dip

Longer-dated Treasuries dip

US longer-dated Treasury debt prices eased slightly on Monday as investors pushed for concessions ahead of the sale of $66 billion in new Treasury supply this week. Losses in the long end were limited, however, as worries over the economic impact of soari
Published 09 Mar, 2011 12:00am
Longer-dated Treasuries dip

Longer-dated Treasuries dip

US longer-dated Treasury debt prices eased slightly on Monday as investors pushed for concessions ahead of the sale of $66 billion in new Treasury supply this week. Losses in the long end were limited, however, as worries over the economic impact of soari
Published 09 Mar, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks closed 0.39 percent higher on Tuesday, with department stores and food companies leading the index, as investors piled up on shares after losses the previous session. Analysts, however, expected the main share index would stay under pressure
Published 09 Mar, 2011 12:00am
Wall Street drops

Wall Street drops

Technology stocks sold off on Monday, with the Nasdaq teetering on a key technical support level as uncertainty over higher oil prices looks set to drive volatility in the days ahead. The Nasdaq composite index dropped 1.4 percent and closed just above it
Published 09 Mar, 2011 12:00am
Tuesday's midday trade: stocks jump; BofA up on forecast

Tuesday's midday trade: stocks jump; BofA up on forecast

US stocks jumped on Tuesday after a pullback in oil prices and an upbeat profit forecast from Bank of America, but technical signals still suggested a market correction was near. In the financial sector, Bank of America Corp, shot up 4.3 percent to $14.64
Published 09 Mar, 2011 12:00am
Nikkei edges up

Nikkei edges up

Japan's Nikkei benchmark edged higher on Tuesday as investors covered short positions after sharp losses the day before, but future gains are likely to be hard-won due to concerns about the Middle East and oil prices. Two major deals were applauded by inv
Published 09 Mar, 2011 12:00am
Middle East markets: Saudi gains boost markets, state buying seen

Middle East markets: Saudi gains boost markets, state buying seen

Most Gulf bourses advanced on Tuesday, tracking gains on the Saudi market, as confirmation that state-linked funds had been buying local shares boosted fragile investor sentiment. Saudi Arabia's index climbed 2.1 percent, taking its gains to more than 14
Published 09 Mar, 2011 12:00am
Nokia starts talks with Finnish staff over revamp

Nokia starts talks with Finnish staff over revamp

Nokia, the world's top cellphone maker, said it will start talks with Finnish employees over the company's new strategy, which unions fear could cost more than 5,000 jobs in the Nordic country. Nokia last month announced a strategy overhaul, dumping its o
Published 09 Mar, 2011 12:00am
Japan recovery threatened by politics: S&P

Japan recovery threatened by politics: S&P

Ratings agency Standard & Poor's on Tuesday warned that political uncertainty in Japan threatens to weigh on the country's recovery from recession. The political future of beleaguered Prime Minister Naoto Kan, pressured by low support ratings, is now seen
Published 09 Mar, 2011 12:00am
Upward trend seen on grain market

Upward trend seen on grain market

Upward trend was seen on the wholesales grain market on Tuesday as wheat prices still on surge in process of trading, dealers said. On the cereals side, wheat old Bardan (with sag) was up by Rs 45 to Rs 2825 and wheat new Bardan (with sag) followed the sa
Published 09 Mar, 2011 12:00am
India's February oilmeal exports more than double

India's February oilmeal exports more than double

India's oilmeal exports more than doubled in February from a year ago, the eighth straight monthly rise, on good demand from buyers in Japan, Middle East and China, data from a leading trade body showed. Oilmeal exports from India, Asia's leading supplier
Published 09 Mar, 2011 12:00am
Further rise in prices witnessed on cotton market

Further rise in prices witnessed on cotton market

Prices showed further increase on the cotton market on Tuesday due to persisting rise in the international market, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12500, they said. Phutti prices in Sindh were at Rs 45
Published 09 Mar, 2011 12:00am
Oil cake markets rates

Oil cake markets rates

Rising trend was witnessed on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The March vaida closed at Rs 1243.90 but it opened with a gain of 30 paisa at Rs 1244.20, the May contract closed at Rs 1322.70 and it open
Published 09 Mar, 2011 12:00am
US wheat futures fall as demand slows

US wheat futures fall as demand slows

Chicago wheat futures extended the prior session's losses on Tuesday as investors' appetite for the commodity waned on signs of slowing demand and due to the escalating conflict in Libya. Soyabeans and corn prices also eased. Dealers said there were conce
Published 09 Mar, 2011 12:00am
China's GMO corn hits policy deadlock: researcher

China's GMO corn hits policy deadlock: researcher

China's first strain of genetically modified corn is facing policy deadlock and may take years before it can be planted, a Chinese researcher said on Monday. China gave the phytase corn safety approval in late 2009, and at the time scientists said they ex
Published 09 Mar, 2011 12:00am
Ghana cocoa purchases up nearly 40 percent

Ghana cocoa purchases up nearly 40 percent

Declared purchases by private cocoa buyers to Ghana industry regulator Cocobod reached 706,626 tonnes since the start of the main crop, Chief Executive Tony Fofie said on Tuesday. The latest figures, which covered 21 weeks of the 33-week main crop, repres
Published 09 Mar, 2011 12:00am
Wheat export premiums firm at US Gulf Coast

Wheat export premiums firm at US Gulf Coast

Wheat export premiums at the US Gulf Coast were steady to firm on Monday after Iraq bought mostly US wheat in a large weekend tender and amid hopes that lower futures prices may attract fresh demand, traders said. Iraq bought 400,000 tonnes wheat via a te
Published 09 Mar, 2011 12:00am
Iraq to buy 2.8 million tonnes of wheat

Iraq to buy 2.8 million tonnes of wheat

Iraq plans to buy more than 2.8 million tonnes of wheat for 2011, compared to 1.9 million tonnes last year, to increase its strategic stockpile, the head of its grains trading board said in an interview on Tuesday. Director General Muthanna Jabbar also to
Published 09 Mar, 2011 12:00am
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