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Archive - 2011-03-21
Pakistan to get US $3bn loan from IDB
Top News

Pakistan to get US $3bn loan from IDB

ISLAMABAD: Islamic Development Bank (IDB) Group on Tuesday pledged the indicative financing of around US $ 3 billion dur
Published 21 Mar, 2011 10:09pm
LSE-25 index sheds 42.46 points
Markets

LSE-25 index sheds 42.46 points

LAHORE: The Lahore Stock Market on Monday witnessed a bearish trend as LSE-25 index dipped 42.46 points to close at 3374
Published 21 Mar, 2011 06:57pm
Large Japan extra budget needed
Top News

Large Japan extra budget needed

TOKYO : Large supplementary budgets are needed by June to help with reconstruction following a devastating earthquake an
Published 21 Mar, 2011 03:37pm
US stocks jump on open
Financial

US stocks jump on open

NEW YORK: US stock markets jumped on opening Monday as investors showed optimism that Japan could deter a meltdown at a
Published 21 Mar, 2011 02:22pm
South Korea bonds retreat
Financial

South Korea bonds retreat

SEOUL :South Korean government bond prices pulled back further on Monday as signs of progress in tackling Japan's nuclea
Published 21 Mar, 2011 02:10pm
Sports, leather exports rise
Top News

Sports, leather exports rise

ISLAMABAD: The exports of various sports goods witnessed increase of 7.96 percent during the first eight months of cur
Published 21 Mar, 2011 12:47pm
SBP notifies holiday
Top News

SBP notifies holiday

KARACHI: The State Bank of Pakistan (SBP) announced here Monday that all its offices will remain closed on Wednesday,
Published 21 Mar, 2011 12:43pm
KSE to introduce RSA securiD
Markets

KSE to introduce RSA securiD

KARACHI: The Karachi Stock Exchange will introduce RSA SecuriD tokens for the authentication of KATS users to address
Published 21 Mar, 2011 12:40pm
Kazmi's remand extended for five days
Top News

Kazmi's remand extended for five days

ISLAMABAD: Senior Civil Judge of Islamabad Muhammad Aslam Gondal on Monday extended the physical remand of former religi
Published 21 Mar, 2011 12:38pm
PNSC gets new chief
Industry

PNSC gets new chief

KARACHI: Vice Admiral Ahmed Saleem Menai has been appointed as the new chairman of Pakistan National Shipping Corporatio
Published 21 Mar, 2011 11:28am
Fighting kills 20 in Yemen's North
Asia

Fighting kills 20 in Yemen's North

SANAA: Twenty people were killed in fighting over a north Yemen military site between Zaidi Shia rebels, Yemeni troops a
Published 21 Mar, 2011 10:15am
I5.8 quake rocks Pakistan
Top News

I5.8 quake rocks Pakistan

KARACHI: A 5.8 magnitude earthquake struck parts of Punjab and the Khyber Pakhtunkhwa province Aaj TV reported on Mond
Published 21 Mar, 2011 09:58am
South Korea, Peru sign free trade pact
Top News

South Korea, Peru sign free trade pact

SEOUL: South Korea Monday signed a free trade pact with Peru, the latest in a series of such deals by Seoul as its trade
Published 21 Mar, 2011 08:58am
FBR launches drive against tax evaders
Top News

FBR launches drive against tax evaders

ISLAMABAD: The Federal Board of Revenue (FBR) here on Monday launched a countrywide drive against the tax evaders and no
Published 21 Mar, 2011 07:21am
KSE fall sharply
Top News

KSE fall sharply

KARACHI: Karachi Stock Exchange (KSE) fell sharply in thin trade on Monday as local investors remained on the sidelines
Published 21 Mar, 2011 04:27am
KSE bows down to FIPI outflows
BR Research

KSE bows down to FIPI outflows

Talk about disappointment. Just when the bulls at Karachis equity market were expected to make further inroads by regaining their grounds, t
Published 21 Mar, 2011 12:00am
US drone attacks: Marvi Memon sends SOS to Gilani

US drone attacks: Marvi Memon sends SOS to Gilani

Strongly condemning US drone attacks in tribal areas, opposition Member National Assembly belonging to PML-Q on Sunday urged Prime Minister Syed Yousuf Raza Gilani to order the country's armed forces for counter attack of the repeated violation of Pakista
Published 21 Mar, 2011 12:00am
Pakistan, Bhutan agree to expand co-operation in economic development

Pakistan, Bhutan agree to expand co-operation in economic development

Pakistan and Bhutan agreed to enhance bilateral co-operation in areas of health, education, culture environment, tourism and human resource management to promote social and economic development. Following is the text of a joint statement issued by Foreign
Published 21 Mar, 2011 12:00am
PML-Q to boycott joint parliamentary session

PML-Q to boycott joint parliamentary session

The leadership of Pakistan Muslim League Quaid-e-Azam (PML-Q) met under the chair of its President Chaudhry Shujaat Hussain here Sunday, wherein they discussed the strategy for the upcoming joint session of parliament.
Published 21 Mar, 2011 12:00am
JI warns govt against operation in North Waziristan

JI warns govt against operation in North Waziristan

Ameer, Jamaat-e-Islami, Pakistan, Syed Munawar Hasan, has warned that military operation in North Waziristan on US pressure would have grave consequences. He was addressing a gathering of the business community in Karachi on Sunday.
Published 21 Mar, 2011 12:00am
Loadshedding cripples life of South Punjab people

Loadshedding cripples life of South Punjab people

Multan Electric Power Company (Mepco) is carrying out eight to 10 hours loadshedding in the urban areas of South Punjab, crippling routine life of the citizens. Prolonged outages are being observed in some places in the name of repair and maintenance.
Published 21 Mar, 2011 12:00am
Punjab government agrees to increase doctors' salary package from July

Punjab government agrees to increase doctors' salary package from July

Punjab government has decided in principal to increase the salary package for the doctors' community from 1st July and this would be a fairly decent and reasonable increase. The recommendations for the said increased salary package would be finalised by t
Published 21 Mar, 2011 12:00am
NCSW proposes severe punishments for acid crimes

NCSW proposes severe punishments for acid crimes

National Commission on Status of Women (NCSW) has finalised the draft for legislation on acid crime and its prevention, proposing severe punishment for the perpetrators and rehabilitation of acid burn victims on the expenses of the state.
Published 21 Mar, 2011 12:00am
By-elections in Tank today

By-elections in Tank today

All set for the smooth and transparent holding of by-election in PK-69, Tank district on March 21 (today). Official sources in Election Commission informed, here on Sunday, that all arrangements have been finalised for the polling, wherein 21 candidates w
Published 21 Mar, 2011 12:00am
TDAP to organise mango exhibition in Russia

TDAP to organise mango exhibition in Russia

Pakistan Horticulture Development and Export Company has set the target to export 140,000 metric tonne mangoes during the current year whereas its export is expected to exceed by 225,000 metric tonne.
Published 21 Mar, 2011 12:00am
Tornado hits five villages of Sialkot

Tornado hits five villages of Sialkot

A Tornado (severe windstorm) that developed some 20 kilometres north of Sialkot City, hit five villages near Head Marala on Saturday evening. The estimated wind speed of the Tornado was 200 miles per hour.
Published 21 Mar, 2011 12:00am
JI welcomes Railways' new GM appointment

JI welcomes Railways' new GM appointment

Jamaat-e-Islami Secretary General, Liaquat Baloch, has welcomed the appointment of Pakistan Railways' new General Manager, Saeed Akhtar, with the hope that the new management would take every possible step to salvage the important national institution and
Published 21 Mar, 2011 12:00am
Government focusing on new water projects, says Punjab governor

Government focusing on new water projects, says Punjab governor

The present government is focusing on new water projects as storage capacity of Mangala and Tarbala dams has decreased 26 percent from 15MFA to 11MFA. This was stated by Governor Punjab Sardar Latif Khan Khosa while addressing a seminar on "Water for Citi
Published 21 Mar, 2011 12:00am
Increasing additional revenue: FBR chief to explain new measures today

Increasing additional revenue: FBR chief to explain new measures today

Chairman Federal Board of Revenue Salman Siddique is holding a luncheon meeting with members of All Pakistan Textile Mills Assocation (APTMA) here today (Monday) to explain measures taken by the government under SRO 231, issued through the Presidential Or
Published 21 Mar, 2011 12:00am
Research oriented projects: Punjab government allocates Rs one billion

Research oriented projects: Punjab government allocates Rs one billion

Present Provincial Government has allocated an amount of Rs one billion for funding output oriented research projects on high priority issues through Punjab Agricultural Research Board (PARB). This was stated by Malik Ahmad Ali Aulakh, Minister for Agricu
Published 21 Mar, 2011 12:00am
Anti-war protesters arrested near White House

Anti-war protesters arrested near White House

More than 100 anti-war protesters, including the man who leaked the Pentagon Papers, were arrested outside the White House in demonstrations marking the eighth anniversary of the US-led war in Iraq.
Published 21 Mar, 2011 12:00am
Two Bush officials in running to be next head of FBI

Two Bush officials in running to be next head of FBI

People familiar with the search for a new FBI director say two officials who worked for President George W. Bush have a realistic chance of being asked to head the bureau. James Comey and Kenneth Wainstein served in sensitive national security-related pos
Published 21 Mar, 2011 12:00am
Al-Jazeera says four reporters held in Libya

Al-Jazeera says four reporters held in Libya

Four journalists working for Al-Jazeera, including a Norwegian and a Briton, are being held in Tripoli after being arrested in Libya's west, the Qatar-based satellite channel said late Saturday.
Published 21 Mar, 2011 12:00am
Obama woos Brazil while Libya air assault unfolds

Obama woos Brazil while Libya air assault unfolds

President Barack Obama heaped praise on Brazil's rise as a democratic, global power on Sunday as he courted Latin America on a trip overshadowed by a US and European air assault on Muammar Gaddafi's forces in Libya.
Published 21 Mar, 2011 12:00am
Thousands rally in Lebanon against confessional system

Thousands rally in Lebanon against confessional system

Thousands of Lebanese held a protest in Beirut on Sunday, the third in less than a month, to demand an end to the country's confessional system, AFP correspondents said. Men and women of all ages set off with children in tow on a march from the residentia
Published 21 Mar, 2011 12:00am
Exiled Tibetans elect new leader

Exiled Tibetans elect new leader

Thousands of Tibetans world-wide voted Sunday for a new political leader who hopes to become a fresh face of their struggle for freedom in China, a cause embodied for decades by the Dalai Lama. The revered monk, 75, announced 10 days ago that he wanted to
Published 21 Mar, 2011 12:00am
Egypt rearrests Zawahiri's brother after release

Egypt rearrests Zawahiri's brother after release

Egyptian police detained the brother of Al Qaeda no. 2 Ayman al-Zawahiri on Sunday, days after he had been released as part of an amnesty extended to political prisoners, lawyers representing him said. Mohammad al-Zawahiri was arrested at his home in a Ca
Published 21 Mar, 2011 12:00am
Bangladesh Prime Minister says to go ahead with nuclear plants

Bangladesh Prime Minister says to go ahead with nuclear plants

Bangladesh will press ahead with its nuclear power programme and has already signed a framework agreement with Russia to set up a 1,000 megawatt (MW) nuclear plant, the country's prime minister said on Sunday. Prime Minister Sheikh Hasina said the plants
Published 21 Mar, 2011 12:00am
Over 2,000 rally against nuclear plants in Taiwan

Over 2,000 rally against nuclear plants in Taiwan

Around 2,000 anti-nuclear protesters demonstrated in Taiwan on Sunday, demanding an immediate halt to the construction of an atomic power plant. The march comes amid a crisis in Japan after a huge quake on March 11 unleashed a tsunami which crippled an at
Published 21 Mar, 2011 12:00am
Wave of unrest shakes Syria, crowds torch party headquarters

Wave of unrest shakes Syria, crowds torch party headquarters

Crowds set fire to the headquarters of the ruling Baath Party in the Syrian city of Deraa on Sunday, residents said, as the wave of unrest in the Arab world shook even one of its most authoritarian states. The demonstrators also set ablaze the main courts
Published 21 Mar, 2011 12:00am
Thousands in Morocco march for rights, end to graft

Thousands in Morocco march for rights, end to graft

Thousands took to the streets in cities across Morocco on Sunday demanding better civil rights and an end to corruption in the moderate North African country where the king this month promised constitutional reform.
Published 21 Mar, 2011 12:00am
Biggest rally held against Iraq's Kurd leaders

Biggest rally held against Iraq's Kurd leaders

Thousands took to the streets on Saturday in the biggest protest yet against the government of Iraq's semi-autonomous northern Kurdish area, inspired by uprisings across the Middle East. Protesters say the regional government, funded by a share of Iraq's
Published 21 Mar, 2011 12:00am
Nine killed in Iraq violence

Nine killed in Iraq violence

Attacks around Iraq left nine people dead on Sunday, including six members of a family killed by a suicide bomber north of Baghdad, security sources said. The suicide attack targeted Taleb al-Obeidi, leader of an anti-al Qaeda militia in the Sunni Bouslab
Published 21 Mar, 2011 12:00am
Iran frees 80-year-old opposition head

Iran frees 80-year-old opposition head

Ebrahim Yazdi, the 80-year-old head of a banned liberal party who was arrested last October 1, was released from prison on Sunday, state news agency IRNA reported. Yazdi was arrested in the city of Isfahan along with several other members of his Freedom M
Published 21 Mar, 2011 12:00am
Call for boycott of Saudi goods over Bahrain

Call for boycott of Saudi goods over Bahrain

An Iraqi Shia newspaper called on Sunday for a boycott of goods from Saudi Arabia and other Sunni Gulf countries that have supported the government of Bahrain in a crackdown against a mainly Shia opposition.
Published 21 Mar, 2011 12:00am
Oman's NBO seeks approval for $600 million bond programme

Oman's NBO seeks approval for $600 million bond programme

National Bank of Oman, the Gulf state's second-largest lender by assets, is seeking shareholder approval for a $600 million bond programme aiming to tap international bond markets, it said on Sunday.
Published 21 Mar, 2011 12:00am
Oman's NBO seeks approval for $600 million bond programme

Oman's NBO seeks approval for $600 million bond programme

National Bank of Oman, the Gulf state's second-largest lender by assets, is seeking shareholder approval for a $600 million bond programme aiming to tap international bond markets, it said on Sunday.
Published 21 Mar, 2011 12:00am
Poland sells PLN one billion in bonds

Poland sells PLN one billion in bonds

Poland sold 1 billion zlotys of inflation-linked and floating-rate bonds on Wednesday, but investors said demand was poor after lower than expected inflation in February and comments from the finance ministry regarding possible interest rate swap transact
Published 21 Mar, 2011 12:00am
Poland sells PLN one billion in bonds

Poland sells PLN one billion in bonds

Poland sold 1 billion zlotys of inflation-linked and floating-rate bonds on Wednesday, but investors said demand was poor after lower than expected inflation in February and comments from the finance ministry regarding possible interest rate swap transact
Published 21 Mar, 2011 12:00am
Treasuries still first port in a storm

Treasuries still first port in a storm

Enthusiasm for US Treasury debt has faded since the year began, but there are few alternatives for investors trying to weather stormy financial markets without getting soaked. Money managers say German bunds, currencies from countries with strong fiscal b
Published 21 Mar, 2011 12:00am
Treasuries still first port in a storm

Treasuries still first port in a storm

Enthusiasm for US Treasury debt has faded since the year began, but there are few alternatives for investors trying to weather stormy financial markets without getting soaked. Money managers say German bunds, currencies from countries with strong fiscal b
Published 21 Mar, 2011 12:00am
G7 will not allow forex credibility to be questioned

G7 will not allow forex credibility to be questioned

The Group of Seven nations do not put their credibility on the line lightly. Those tempted to question whether their first co-ordinated intervention in the currency markets in a decade will be successful should be mindful how much is at stake and the G7 n
Published 21 Mar, 2011 12:00am
Wall Street Weekahead: watch out for wild intraday swings

Wall Street Weekahead: watch out for wild intraday swings

Watch out for intraday swings because it's going to be wild. Cataclysmic events, including a nuclear disaster in Japan, uprisings in the Middle East and North Africa and the possibility of more currency market intervention will keep investors reacting to
Published 21 Mar, 2011 12:00am
British investors await 2011 budget next week

British investors await 2011 budget next week

The London stock market, shaken by Japan's nuclear crisis and the prospect of UN-backed military strikes in Libya, will switch focus next week to the British government's annual budget. London's FTSE 100 index fell 1.9 percent over the past week to finish
Published 21 Mar, 2011 12:00am
Forex investors cut long bets in Asian currencies

Forex investors cut long bets in Asian currencies

Investors reduced their long bets on overall emerging Asian currencies, turning bearish on the South Korean won and the Taiwan dollar, as a devastating earthquake and nuclear crisis in Japan dented appetite for riskier aassets, a Reuters poll showed They
Published 21 Mar, 2011 12:00am
South African government back off from weakening rand

South African government back off from weakening rand

South Africa's government, which has repeatedly bemoaned the strength of the rand, is probably hoping the currency won't extend this week's Japan-related slide as this would stoke inflation at a time of sluggish growth.
Published 21 Mar, 2011 12:00am
UAE's Global Foundries to spend $5 billion in 2011

UAE's Global Foundries to spend $5 billion in 2011

Global Foundries, majority owned by Abu Dhabi, plans to double its capital expenditure to $5 billion in 2011, as it expands its semiconductor business, the chief executive of its parent company said.
Published 21 Mar, 2011 12:00am
Delta bets on upgrades to lure new customers

Delta bets on upgrades to lure new customers

Delta Air Lines Inc may no longer be the world's biggest airline, but it's spending big in an effort to become a premium brand. The airline is investing more than $2 billion through 2013 to upgrade plane seats, refurbish airport facilities and expand in-f
Published 21 Mar, 2011 12:00am
More pain ahead for Nokia shareholders

More pain ahead for Nokia shareholders

It still says Nokia on the box, but investors might find the similarities end there. The Finnish firm's recent decision to dump its own market-leading software platform in favour of Microsoft's unproven Windows Phone has already wiped 29 percent off its s
Published 21 Mar, 2011 12:00am
Goldman to pay $5.5 billion for Buffett stake

Goldman to pay $5.5 billion for Buffett stake

Goldman Sachs said on March 17 it would pay $5.5 billion to repurchase the preferred stock bought by billionaire Warren Buffett's Berkshire Hathaway at the height of the 2008 financial crisis. The Wall Street giant said the US central bank had given a gre
Published 21 Mar, 2011 12:00am
Acer sees Russian sales up 30 percent in 2011

Acer sees Russian sales up 30 percent in 2011

Taiwan's Acer, the world's second-largest PC vendor, expects to achieve at least 30 percent growth in Russian sales this year, driven by new products such as tablet computers and smartphones. Acer CIS General Manager Gleb Mishin told Reuters Acer produced
Published 21 Mar, 2011 12:00am
Shell hopes for more Saudi gas, doubt over profits

Shell hopes for more Saudi gas, doubt over profits

Royal Dutch Shell is optimistic a second phase of exploration in Saudi Arabia's Empty Quarter will yield gas, although it is unclear how economic it will be, it said in an interview. Shell is one of the five companies state oil company Saudi Aramco teamed
Published 21 Mar, 2011 12:00am
Little quake impact on overseas production: Nissan

Little quake impact on overseas production: Nissan

Japanese automaker Nissan Motor sees little impact on overseas production from the disaster in Japan, and has enough parts in stock at European plants to run for about six weeks, a senior executive said. Disruption in Japan after devastating earthquake po
Published 21 Mar, 2011 12:00am
Morgans picks board member as chief executive

Morgans picks board member as chief executive

Morgans Hotel Group will name board member Michael Gross, an executive of major shareholder Yucaipa, as its new CEO and appoint Marriott International executives to run operations and development, said a person with firsthand knowledge of the plan.
Published 21 Mar, 2011 12:00am
Planemakers win as oil price fuels airline upgrades

Planemakers win as oil price fuels airline upgrades

For planemakers, rising jet fuel costs are proving a boon as airlines are forced to splash scarce cash on fuel-efficient aircraft to offset oil prices. Aircraft orders totalling $31 billion across three continents last week show how much airlines, many of
Published 21 Mar, 2011 12:00am
Wells Fargo sets $0.12 first quarter dividend

Wells Fargo sets $0.12 first quarter dividend

Wells Fargo & Co said on March 18 that it would issue a special cash dividend to its common stockholders, following the results of the Federal Reserve's second round of stress tests.
Published 21 Mar, 2011 12:00am
Wells Fargo sets $0.12 first quarter dividend

Wells Fargo sets $0.12 first quarter dividend

Wells Fargo & Co said on March 18 that it would issue a special cash dividend to its common stockholders, following the results of the Federal Reserve's second round of stress tests.
Published 21 Mar, 2011 12:00am
Vodafone top gainer in India number portability

Vodafone top gainer in India number portability

Vodafone's India unit has so far gained the most following India's move allowing mobile users to retain their numbers even when they switch carriers, data from an industry body showed on March 18.
Published 21 Mar, 2011 12:00am
Nokia Siemens to develop LTE equipment in Russia

Nokia Siemens to develop LTE equipment in Russia

Telecoms gear producer Nokia Siemens Networks (NSN) plans to set up a joint venture with Russian company Mikran to develop equipment for next-generation technology mobile networks.
Published 21 Mar, 2011 12:00am
E-Book sales jump at the start of 2011

E-Book sales jump at the start of 2011

Sales of electronic books in January increased by more than 115 percent compared to the same time the year before, a report released by the Association of American Publishers said on March 17.
Published 21 Mar, 2011 12:00am
HP looks to the 'cloud'

HP looks to the 'cloud'

Hewlett-Packard plans to offer a complete range of cloud computing services, HP chief executive Leo Apotheker said on March 14 as he outlined his strategy for the US computer giant. Apotheker, speaking in San Francisco at an event that was streamed over t
Published 21 Mar, 2011 12:00am
Microsoft releases new Internet Explorer nine browser

Microsoft releases new Internet Explorer nine browser

Microsoft released the latest version of its Internet Explorer Web browsing software free online on March 15. "Things are about to change," Microsoft corporate vice President Dean Hachamovitch said at a press conference at the South By Southwest Interacti
Published 21 Mar, 2011 12:00am
Facebook may help in disasters: academic

Facebook may help in disasters: academic

An Australian academic on March 18 praised the increasing use of social media during disasters, saying there had been a "beautiful display of humanity" on Facebook during recent catastrophes. Communications expert Gwyneth Howell said she had been prompted
Published 21 Mar, 2011 12:00am
New Apple iPads sell for nearly $2,000 in Hong Kong

New Apple iPads sell for nearly $2,000 in Hong Kong

Parallel imports of the new Apple iPad 2 computing tablet are selling in Hong Kong for up to 15,000 Hong Kong dollars (1,925 US dollars), news reports said on March 14. Electronics shops in the city, where the new version of the popular gadget is not offi
Published 21 Mar, 2011 12:00am
Google Chrome scores at SXSW Interactive awards

Google Chrome scores at SXSW Interactive awards

A music and imagery website that shows off capabilities of Google's Chrome Web browser won top honours at a South By Southwest Interactive (SXSW) festival known for its technology trend-setters. The Wilderness Downtown was declared Best of Show at an awar
Published 21 Mar, 2011 12:00am
Internet is world's 'greatest spying machine': Assange

Internet is world's 'greatest spying machine': Assange

Julian Assange, the founder of whistleblower website WikiLeaks, on March 15 warned that the Internet was the "greatest spying machine the world has ever seen" and an obstacle to free speech.
Published 21 Mar, 2011 12:00am
Microsoft takes down major fake drug spam network

Microsoft takes down major fake drug spam network

Microsoft on March 17 announced the dismantling of a "notorious and complex" network of virus-infected computers used to send billions of email messages daily hawking fake drugs.
Published 21 Mar, 2011 12:00am
Online readership in US overtakes newspapers

Online readership in US overtakes newspapers

For the first time, online readership and advertising revenue in the United States has surpassed that of print newspapers. The State of the News Media report from the Pew Research Centre's Project for Excellence in Journalism showed that more people - 46
Published 21 Mar, 2011 12:00am
Americans slow to pay for local mobile applications

Americans slow to pay for local mobile applications

Nearly half of Americans are using their cellphones and tablet computers to get local news and information but just one percent are paying for applications to do so, according to a new report. Forty-seven percent of Americans use cellphones or tablet comp
Published 21 Mar, 2011 12:00am
Radiation fears may be greatly exaggerated

Radiation fears may be greatly exaggerated

As workers struggle to contain the fallout from the crippled nuclear plant in north-eastern Japan, people as far away as Illinois are calling public health officials in a state of panic. They are hoping to get their hands on potassium iodide pills to prot
Published 21 Mar, 2011 12:00am
Gene therapy shows promise for Parkinson's

Gene therapy shows promise for Parkinson's

A small trial has shown that a type of gene therapy for patients with advanced Parkinson's disease can reduce symptoms of the devastating brain condition. The 45-patient study, published in the journal Lancet Neurology, is the first successful trial to co
Published 21 Mar, 2011 12:00am
Omega-3s linked to less age-related vision loss

Omega-3s linked to less age-related vision loss

Women who get lots of omega-3 fatty acids are less likely to develop age-related macular degeneration (AMD), an eye disease affecting millions of older adults in the US. That's the conclusion of a new study, which jibes with earlier research linking fish
Published 21 Mar, 2011 12:00am
Facing climate threat, crop gene swaps ever more urgent

Facing climate threat, crop gene swaps ever more urgent

Nations need to speed up the sharing of genetic material from crops if the world is to have any chance of feeding itself in a future with more extreme droughts, floods and storms, a senior UN official said on March 17.
Published 21 Mar, 2011 12:00am
Drug resistance hampers fight against tuberculosis

Drug resistance hampers fight against tuberculosis

Rising rates of multi-drug resistant tuberculosis (TB) are hampering world health programs aimed at tackling TB and threaten to wipe out progress made against the disease, scientists said on March 18.
Published 21 Mar, 2011 12:00am
Scrutiny on global nuclear industry intensifies

Scrutiny on global nuclear industry intensifies

The crisis in Japan means higher costs, cancelled projects and laser-like regulatory scrutiny for the global nuclear industry, signalling the likely end to its decade-long growth spurt.
Published 21 Mar, 2011 12:00am
Haiti cholera epidemic to hit 800,000: study

Haiti cholera epidemic to hit 800,000: study

Up to 800,000 Haitians will contract cholera this year, double the estimates of UN agencies, a report published by The Lancet on March 16 claimed. A US team led by Jason Andrews from Harvard School of Public Health also found that a recent dip in reported
Published 21 Mar, 2011 12:00am
Study suggests alternative to invasive heart test

Study suggests alternative to invasive heart test

People about to be scanned for suspected heart disease may want to consider a low-radiation, non-invasive test, doctors said. Dr Moritz Wyler von Ballmoos of Children's Hospital Boston, who worked on the study, said low-radiation CT scans compared favoura
Published 21 Mar, 2011 12:00am
Scientists say quartz is key to understanding quakes

Scientists say quartz is key to understanding quakes

Underground quartz deposits world-wide may be behind earthquakes, mountain building and other continental tectonics, a discovery that may aid in predicting tremblers, according to a study released on March 16.
Published 21 Mar, 2011 12:00am
Lower price for sale sign hangs over Kuwait's Zain

Lower price for sale sign hangs over Kuwait's Zain

Kuwait's Zain should remain for sale following Etisalat's failed $12 billion take-over, but buyers will be wary, with nearby Bahrain under martial law and borrowing costs and risk both rising.
Published 21 Mar, 2011 12:00am
Oman to spend $1 billion to boost gas output

Oman to spend $1 billion to boost gas output

Oman is to invest $1 billion in a field south-east of the capital to boost gas production. Like most of its Gulf neighbours, Oman is short of the gas it needs to meet rapidly rising demand for industry and power.
Published 21 Mar, 2011 12:00am
South Korea business start-up growth eases

South Korea business start-up growth eases

The number of newly-started companies in South Korea decreased in February from a month before, pulling the ratio of start-up/failed businesses down from a decade high, central bank data showed on Sunday.
Published 21 Mar, 2011 12:00am
Opec credibility at risk if members act alone: Iran

Opec credibility at risk if members act alone: Iran

Opec's credibility is at risk and oil prices may collapse if members of the group unilaterally decide to increase output, Iran's Opec governor warned. "Given the market situation, if every Opec member decides to act of their own this would damage the cred
Published 21 Mar, 2011 12:00am
Japan mulls capital injections for banks

Japan mulls capital injections for banks

The Japanese government plans to inject public funds into banks in areas ravaged by the March 11 earthquake and tsunami to make sure that businesses in the area can get credit to rebuild their operations, The Nikkei newspaper said in its Sunday edition.
Published 21 Mar, 2011 12:00am
Swiss parties backing tougher bank rules

Swiss parties backing tougher bank rules

Two Swiss political parties are backing a proposal that would mean the country's two biggest banks facing far more stringent capital requirements than foreign rivals, Swiss newspaper NZZ am Sonntag reported.
Published 21 Mar, 2011 12:00am
Saudi Arabia sees no outflows from regional strife

Saudi Arabia sees no outflows from regional strife

Saudi Arabia's economy is reasonably insulated from the regional turmoil and the central bank has seen no abnormal capital outflows, its governor Muhammad al-Jasser said on Sunday. Revolts have been sweeping through the Arab world since December, shaking
Published 21 Mar, 2011 12:00am
Kuwait's Global posts lower loss in 2010

Kuwait's Global posts lower loss in 2010

Global Investment House, a leading Kuwaiti firm undergoing a debt restructuring plan, said on Sunday it has cut its loss by half last year by reducing interest and other expenses. The company said it posted a loss of 73.2 million dinars ($263.3 million) i
Published 21 Mar, 2011 12:00am
Kuwait's Global posts lower loss in 2010

Kuwait's Global posts lower loss in 2010

Global Investment House, a leading Kuwaiti firm undergoing a debt restructuring plan, said on Sunday it has cut its loss by half last year by reducing interest and other expenses. The company said it posted a loss of 73.2 million dinars ($263.3 million) i
Published 21 Mar, 2011 12:00am
Dubai censures Saxo Bank unit

Dubai censures Saxo Bank unit

Dubai's financial regulator on Sunday said it censored the local unit of privately-held Danish lender Saxo Bank for its failure to comply with rules regarding intake of clients and anti-money laundering controls.
Published 21 Mar, 2011 12:00am
China calls for equal market access overseas

China calls for equal market access overseas

China's Minister of Commerce Chen Deming on Sunday urged foreign governments to improve their investment environment and provide equal access for Chinese investors, state media reported.
Published 21 Mar, 2011 12:00am
China remains focused on inflation: Vice Premier

China remains focused on inflation: Vice Premier

China will stay focused on stifling inflation even as global economic uncertainties multiply, Chinese Vice Premier Li Keqiang said on Sunday. "We will make stabilising the overall level of prices the primary task of macro-economic adjustment," said Li, wh
Published 21 Mar, 2011 12:00am
Britain won't change pace of cuts: Osborne

Britain won't change pace of cuts: Osborne

Britain would risk its economic stability if it watered down a programme of tax rises and public spending cuts aimed at reducing a record budget deficit, finance minister George Osborne said on Sunday. "That would be a huge mistake for this country," he s
Published 21 Mar, 2011 12:00am
UK reforms could cost banks up to 15 billion pounds

UK reforms could cost banks up to 15 billion pounds

Making UK banks restructure their operations by splitting their retail and investment arms could cost the nation's big five lenders up to 15 billion pounds($24 billion) a year, according to a report in the Sunday Telegraph quoting a study.
Published 21 Mar, 2011 12:00am
Aramco comes closer to China with crude deal

Aramco comes closer to China with crude deal

Saudi Arabia's Aramco is building on its ties with China, with plans to supply crude to a refinery in the south-west of the country, where Beijing is building an oil and gas pipeline that slices through Myanmar. Aramco Overseas Company, a subsidiary of Sa
Published 21 Mar, 2011 12:00am
Shell chief executive has high hopes for China's shale gas

Shell chief executive has high hopes for China's shale gas

Royal Dutch Shell is aiming to spend $1 billion a year over the next five years on shale gas in China if its explorations works under way prove a success, Chief Executive Peter Voser told Reuters on Sunday, Shell is drilling 17 wells in China, including f
Published 21 Mar, 2011 12:00am
Boeing's new 747 starts first test flight

Boeing's new 747 starts first test flight

Boeing Co's 747-8 Intercontinental, the new passenger version of its legendary jumbo jet, began its maiden flight on Sunday, marking a key milestone for the aircraft model more closely associated with Boeing than any other plane.
Published 21 Mar, 2011 12:00am
HIGHLIGHTS: ICA-Cotton Event-Dubai-2011

HIGHLIGHTS: ICA-Cotton Event-Dubai-2011

The International Cotton Association-Liverpool (UK) -a global apex body of raw cotton trade and arbitration, held a two-day (15th and 16th March, 2011) cotton event at Dubai under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum-President o
Published 21 Mar, 2011 12:00am
HIGHLIGHTS: ICA-Cotton Event-Dubai-2011

HIGHLIGHTS: ICA-Cotton Event-Dubai-2011

The International Cotton Association-Liverpool (UK) -a global apex body of raw cotton trade and arbitration, held a two-day (15th and 16th March, 2011) cotton event at Dubai under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum-President o
Published 21 Mar, 2011 12:00am
Coastal areas lack gas facilities

Coastal areas lack gas facilities

People living in most villages in the coastal areas of Keamari Town have complained that the government does not supply natural gas to their areas and they have no option but to burn wood for cooking.
Published 21 Mar, 2011 12:00am
Textile sector rejects withdrawal of zero-rating of export

Textile sector rejects withdrawal of zero-rating of export

The value-added textile sector has vehemently rejected the withdrawal of zero-rating of export sector by the government. The Chairman, Towel Manufacturers Association of Pakistan (TMA) South Zone, Syed Usman Ali said that the new measures taken by the gov
Published 21 Mar, 2011 12:00am
Chinese seek refunds as salt panic subsides

Chinese seek refunds as salt panic subsides

Chinese consumers caught up in panic salt buying in the mistaken belief it would protect against radiation from Japan's nuclear crisis are finding stores are refusing to refund their hoards of salt.
Published 21 Mar, 2011 12:00am
Waqar praises Aussie, Gul's achievement

Waqar praises Aussie, Gul's achievement

Coach Waqar Younis hailed Pakistan's hard-fought four-wicket win over Australia as a major achievement on Sunday and picked out seamer Umar Gul as the star of the show. Gul took 3-30 and Abdul Razzaq claimed 2-8 as Australia were bowled out for 176 in 46.
Published 21 Mar, 2011 12:00am
Djokovic goes for title against Nadal

Djokovic goes for title against Nadal

Serbia's Novak Djokovic continued his blistering pace this season by beating Roger Federer to reach the Indian Wells final and supersede the Swiss star as world No 2. Djokovic reached the final of the $4.5 million ATP Masters 1000 event by defeating Feder
Published 21 Mar, 2011 12:00am
Lesco win inter-unit bodybuilding championship

Lesco win inter-unit bodybuilding championship

Lahore Electric Supply Company (Lesco) won Wapda Inter-Unit Bodybuilding Championship 2011 by scoring 59 points as National Transmission and Dispatch Company remained runner-up with 45 points. Gujranwala Electric Power Company got third position with 39 p
Published 21 Mar, 2011 12:00am
India set up World Cup thriller with Aussies

India set up World Cup thriller with Aussies

India will play defending champions Australia in a mouth-watering World Cup quarter-final clash after the hosts battled back to beat the West Indies comfortably on Sunday. India scored 268 thanks largely to a century by in-form Yuvraj Singh but lost their
Published 21 Mar, 2011 12:00am
Liverpool make the most of penalty Controversy

Liverpool make the most of penalty Controversy

Dirk Kuyt scored a controversial penalty as Liverpool bounced back from their Europa League exit with a 2-0 win at 10-man Sunderland on Sunday. Liverpool were beaten at Sunderland in dubious circumstances last season when Darren Bent scored with a goal th
Published 21 Mar, 2011 12:00am
Winless Kenya need more exposure: Tikolo

Winless Kenya need more exposure: Tikolo

Kenya need to play regularly against major teams if they are ever to improve at the big tournaments, veteran all-rounder Steve Tikolo said on Sunday. Kenya, who qualified for the 2003 World Cup semi-finals in South Africa, lost all of their six league mat
Published 21 Mar, 2011 12:00am
Zimbabwe crush Kenya

Zimbabwe crush Kenya

Craig Ervine, Vusimuzi Sibanda and Tatenda Taibu cracked impressive half-centuries to set up Zimbabwe's crushing 161-run victory over hapless Kenya in their final World Cup match on Sunday. Zimbabwe showed their batting prowess to post 308-6, their highes
Published 21 Mar, 2011 12:00am
World Cup drags on as Twenty20 flourishes

World Cup drags on as Twenty20 flourishes

After four weeks and 40 matches, the World Cup has crawled its way to the quarterfinal stages. With some notable exceptions, especially England and its wild fluctuations in form, the 2011 World Cup has been a torrid affair with subcontinental slow-turning
Published 21 Mar, 2011 12:00am
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