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Archive - 2011-03-22
China blocks up to $5bn in US farm sales
Top News

China blocks up to $5bn in US farm sales

WASHINGTON: The United States could sell China $5 billion more in farm goods if Beijing cut trade barriers, according to
Published 22 Mar, 2011 11:08pm
US stocks lower after rally
Financial

US stocks lower after rally

NEW YORK: US stocks closed slightly down on Tuesday after rallying for three days, in the wake of mixed European trading
Published 22 Mar, 2011 10:35pm
Governor's message on Pakistan Day
Top News

Governor's message on Pakistan Day

KARACHI: The Muslims of the sub-continent got united six decades ago under the leadership of Quaid-i-Azam Mohammad Ali J
Published 22 Mar, 2011 07:29pm
Czech carbon registry to reopen
Top News

Czech carbon registry to reopen

PRAGUE ? : The Czech carbon credits registry will reopen on Thursday following a theft which halted all trade in January
Published 22 Mar, 2011 05:09pm
Warren Buffett eyes India for investment
Top News

Warren Buffett eyes India for investment

BANGALORE: US billionaire investor Warren Buffett, on his maiden visit to India, said Tuesday he was looking at investin
Published 22 Mar, 2011 03:34pm
Japan warns again on yen
Top News

Japan warns again on yen

TOKYO: Japan warned markets on Tuesday it would act again to keep the yen in check and prevent its rapid gains from de
Published 22 Mar, 2011 03:15pm
Change in Karachi situation soon: Malik
Top News

Change in Karachi situation soon: Malik

ISLAMABAD: Interior Minister Rehman Malik Tuesday said that people who are involved in unrest in Karachi have been ident
Published 22 Mar, 2011 05:35am
Not so rosy growth in LSM
BR Research

Not so rosy growth in LSM

Large scale manufacturing numbers finally turned positive in January, after a much-painful wait. That should bring smiles on some faces. But
Published 22 Mar, 2011 12:00am
Fishing for exports
BR Research

Fishing for exports

The health benefits of fish are many, and many fond of it in Pakistan are also availing them. But, its the economic benefits of fish that ar
Published 22 Mar, 2011 12:00am
Militants kill four alleged US spies

Militants kill four alleged US spies

Militants killed four men for allegedly providing the United States with information used in a recent drone attack that Pakistan claims killed many innocent civilians, intelligence officials said on Monday.
Published 22 Mar, 2011 12:00am
45 dead in Sorrange coalmine blast

45 dead in Sorrange coalmine blast

Balochistan Minister for Irrigation and Power, Sardar Mohammad Aslam Bijinjo conformed the death toll of Sorrange coalmine blast as 45. Talking on the floor of the house during the assembly session, Deputy Speaker Matiullah Agha in the chair on Monday, pr
Published 22 Mar, 2011 12:00am
Chairman FPCCI meets special children

Chairman FPCCI meets special children

Regional Chair-man, Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Muhammad Tariq Shafi visited Oasis Education School for Special Children, established under the Sharif Trust of Sharif Medical Complex, here on Monday. An investment on w
Published 22 Mar, 2011 12:00am
Germany working to enhance trade volume: envoy

Germany working to enhance trade volume: envoy

Ambassador of Federal Republic of Germany to Pakistan, Dr Michael Koch has said that resources and channels are being mobilised for enhancing bilateral trade between Germany and Pakistan. Addressing the members of Sialkot Chamber of Commerce and Industry
Published 22 Mar, 2011 12:00am
Two killed, 74 injured in piled up crash

Two killed, 74 injured in piled up crash

At least two persons were killed and 74 others injured in a piled up crash on National Highway in Bin Qasim Town here on Monday. The tragic incident that claimed two lives and injured 74 others occurred in the early Monday, when a passenger bus (PE3708) c
Published 22 Mar, 2011 12:00am
Meeting between CDGK, meat-sellers put off

Meeting between CDGK, meat-sellers put off

The meeting between the City District Government (CDGK) and associations of meat-sellers, which was expected to be held this week, looks uncertain, upon the death of Ismael Siddiqui General Secretary of the Meat Sellers Association. Officials of the city
Published 22 Mar, 2011 12:00am
'SEF ensuring provision of quality education'

'SEF ensuring provision of quality education'

The quality of education implies people's worldview and their sense of collective living; hence the standards of assessing quality should be related. The aim of Sindh Education Foundation (SEF) is to provide quality education to all, a representative of S
Published 22 Mar, 2011 12:00am
PMEL announces new trading hours

PMEL announces new trading hours

Pakistan Mercantile Exchange Limited (formerly National Commodity Exchange Limited), has announced increase in the trading hours to 21-hour a day. Progressing forward, PMEX will now open the market at 5:00 am instead of 10:00 am.
Published 22 Mar, 2011 12:00am
TAAP opposes imposition of 15 percent flood tax

TAAP opposes imposition of 15 percent flood tax

Travel Agents Association of Pakistan (TAAP) has strongly opposed the imposition of 15 percent flood tax and 2.5 percent federal excise duty by the government. Chairman, TAAP, Yahya Polani in a statement said that members of business community and working
Published 22 Mar, 2011 12:00am
Seminar on sustainable textile processing held

Seminar on sustainable textile processing held

The world leading Enzyme producer - Genencor participated in a seminar on 'Sustainable textile processing' organised by the Mukashi Associates a sole distributor of Genencor, at a local hotel. Tan Soo Hwee, Sales Director, Textile Enzymes Asia Pacific of
Published 22 Mar, 2011 12:00am
Three alleged targeted killers arrested: CCPO

Three alleged targeted killers arrested: CCPO

Newly appointed Capital City Police Officer (CCPO) Saud Mirza claimed to have nabbed three alleged target killers and recovered huge cache of illegal weapons and drugs from their possession. He stated that while addressing a press conference held at CCPO
Published 22 Mar, 2011 12:00am
Faysal Bank, Pak-Qatar Family Takaful, FWU AG sign agreement

Faysal Bank, Pak-Qatar Family Takaful, FWU AG sign agreement

Faysal Bank Limited has signed a Bancatakaful agreement with Pak-Qatar Family Takaful Limited and FWU AG a global facilitator of Bancatakaful at Faysal House Karachi recently. Bancatakaful agreement was signed by Aarij Ali, Head Retail Banking of Faysal B
Published 22 Mar, 2011 12:00am
Faysal Bank, Pak-Qatar Family Takaful, FWU AG sign agreement

Faysal Bank, Pak-Qatar Family Takaful, FWU AG sign agreement

Faysal Bank Limited has signed a Bancatakaful agreement with Pak-Qatar Family Takaful Limited and FWU AG a global facilitator of Bancatakaful at Faysal House Karachi recently. Bancatakaful agreement was signed by Aarij Ali, Head Retail Banking of Faysal B
Published 22 Mar, 2011 12:00am
Need to ensure efficient water management stressed

Need to ensure efficient water management stressed

Lahore Chamber of Commerce and Industry (LCCI) has stressed the need for a upright approach to ensure sustainable, efficient and equitable management of scarce water resources as its shortage can have a devastating impact on the socio-economic development
Published 22 Mar, 2011 12:00am
US MIDDAY: gold gains

US MIDDAY: gold gains

Gold rose for a fourth day on Monday, buoyed by a weaker dollar, rising oil prices and investor jitters surrounding air strikes by Western powers on Libya and Japan's struggle to avert nuclear disaster. Gold trimmed early gains, following oil, but the met
Published 22 Mar, 2011 12:00am
US MIDDAY: copper ends down

US MIDDAY: copper ends down

Copper fell more than one-percent on Monday, failing to join in a broad-based equities rally as concerns about the sustainability of the global economic recovery began to bite. A sharp reduction in China's imports of the metal last month and an unexpected
Published 22 Mar, 2011 12:00am
US MIDDAY: cocoa, coffee climb

US MIDDAY: cocoa, coffee climb

Cocoa futures climbed on Monday on investor buying after last week's steep sell-off as traders mulled whether the virtual civil war in top cocoa grower Ivory Coast would be resolved, analysts said. The softs complex continued to monitor the outbreak of fi
Published 22 Mar, 2011 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose for a fourth day on Monday, drawing strength from a softer dollar and from its appeal as a safe haven while Western powers carry out air strikes on Libya and Japan struggles to avert nuclear disaster. The gold price, which is set for its tenth c
Published 22 Mar, 2011 12:00am
Gold rises in Asia

Gold rises in Asia

Gold prices edged higher on Monday, fuelled by the escalating tension in the Middle East and North Africa after western forces launched air attacks in Libya, as a weaker dollar also lent support. With unrest spreading in Yemen and Syria, western warplanes
Published 22 Mar, 2011 12:00am
Oil lifted by Middle East unrest

Oil lifted by Middle East unrest

Oil prices rose 1 percent on Monday as spreading unrest in the Middle East intensified concerns about potential threats to the region's oil supply and UN-mandated air strikes kept flow reduced from Opec-member Libya.
Published 22 Mar, 2011 12:00am
Liffe coffee ends higher

Liffe coffee ends higher

Liffe May robusta coffee ends $17 higher at $2,613 a tonne. May's premium to July widened, buoyed by tightness in available deliverable supplies. Liffe May white sugar eases $4.30 to close at $706.30 a tonne. Market weighed by improving supply prospects w
Published 22 Mar, 2011 12:00am
Brazil cotton harvest may face race against clock

Brazil cotton harvest may face race against clock

Brazilian soy farmers planting cotton during the interharvest will need to gather the biggest ever crop of the fibre with clockwork-like efficiency this year to avoid disrupting the harvests that will follow. Soy farmers usually plant corn in their soy fi
Published 22 Mar, 2011 12:00am
Malaysian palm oil off ten-day highs

Malaysian palm oil off ten-day highs

Malaysia's palm oil futures ended off a ten-day high on Monday on lower exports, underscoring fears that the global economy will slow with this month's earthquake and tsunami hitting Japan. Losses were limited as some traders picked up bargains after Japa
Published 22 Mar, 2011 12:00am
Copper falls

Copper falls

Copper fell on Monday, retreating from last week's rally due to weakness in US data and Chinese imports and as concerns about Japan's nuclear crisis eclipsed longer-term prospects for metals demand there. Three-month copper on the London Metal Exchange cl
Published 22 Mar, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

London copper prices edged up 0.4 percent in light trade on Monday, with investors wary of placing big bets after a weekend of airstrikes by Western powers on Libya, tightening monetary policy in China and the Japan earthquake aftermath, Shanghai copper f
Published 22 Mar, 2011 12:00am
New York cotton closes down

New York cotton closes down

US cotton futures finished easier after late investor profit-taking in subdued dealings on Monday, back-pedalling from a one-week high reached earlier in the session. The key May cotton contract on ICE Futures US shed 0.16 cent to close at $1.9896 per lb,
Published 22 Mar, 2011 12:00am
Two European lawmakers resign, deny bribery claims

Two European lawmakers resign, deny bribery claims

Two European Parliament lawmakers have resigned and a third has stepped down from his position in his party after a British newspaper reported they had agreed to propose legislation in return for bribes.
Published 22 Mar, 2011 12:00am
Uganda's Museveni says West bombing Libya for oil

Uganda's Museveni says West bombing Libya for oil

Ugandan President Yoweri Museveni on Monday condemned foreign air strikes against the forces of Libyan leader Muammar Gaddafi, accusing the West of double standards and a thirst for more oil. Museveni is part of an African Union (AU) panel formed to media
Published 22 Mar, 2011 12:00am
Afghan VP urges militants to lay down arms

Afghan VP urges militants to lay down arms

In a speech marking the Afghan new year, Vice President Abdul Karim Khalili on Monday called on militants to lay down their weapons because the nation will never return to the days of hard-line Taliban rule. "We are going toward the light. We are never go
Published 22 Mar, 2011 12:00am
Don't bomb Libya, arm rebels, says Khamenei

Don't bomb Libya, arm rebels, says Khamenei

If the West wanted to help Libyan civilians it would arm them rather than bombing Muammar Gaddafi, Iran's leader said on Monday, accusing Washington of seeking a strategic "foothold" in oil-rich Libya. In a speech to mark the new Iranian year, Supreme Lea
Published 22 Mar, 2011 12:00am
Iraq backs intervention in Libya

Iraq backs intervention in Libya

Iraq said on Monday it supported international intervention in Libya, but influential Shia cleric Moqtada al-Sadr condemned it and said Western states should avoid civilian casualties. Government spokesman Ali al-Dabbagh said Iraq supported the UN Securit
Published 22 Mar, 2011 12:00am
WHO warns of 'serious' food radiation

WHO warns of 'serious' food radiation

The World Health Organisation said on Monday that radiation in food after an earthquake damaged a Japanese nuclear plant was more serious than previously thought, eclipsing signs of progress in a battle to avert a catastrophic meltdown in its reactors.
Published 22 Mar, 2011 12:00am
Syria protests spread, authorities pull back

Syria protests spread, authorities pull back

Unrest spread in southern Syria on Monday with hundreds of people demonstrating against the government in the town of Jassem, activists said, but authorities did not use force to quell the latest protest. Security forces killed four civilians in demonstra
Published 22 Mar, 2011 12:00am
Several hundred teachers keep up pressure in Morocco

Several hundred teachers keep up pressure in Morocco

Several hundred teachers marched through Rabat on Monday for better pay a day after one of Morocco's largest anti-government protests in recent decades against corruption and demanding government change. Monday's protest, which briefly and noisily disrupt
Published 22 Mar, 2011 12:00am
14 dead after plane crashes in Congo city

14 dead after plane crashes in Congo city

At least 14 people were killed when a cargo plane crashed Monday into a residential area of Pointe-Noire, the Republic of Congo's economic capital, a police officer at the scene told AFP.
Published 22 Mar, 2011 12:00am
Stronger nuclear safety standards needed: IAEA chief

Stronger nuclear safety standards needed: IAEA chief

International nuclear safety standards will need to be strengthened after the crisis at a Japanese atomic power plant triggered by an earthquake and tsunami, the UN nuclear agency chief said on Monday. But Yukiya Amano, director general of the Internation
Published 22 Mar, 2011 12:00am
Disaster could cost Japan $235 billion: World Bank

Disaster could cost Japan $235 billion: World Bank

Japan's massive earthquake and tsunami could cost its economy up to $235 billion, or 4.0 percent of output, and reconstruction may take five years, the World Bank said Monday. "If history is any guide, real GDP growth will be negatively affected through m
Published 22 Mar, 2011 12:00am
EU pushes for nuclear safety, but rules lack teeth

EU pushes for nuclear safety, but rules lack teeth

Europe's 143 nuclear reactors should face new safety standards, EU ministers agreed on Monday, but for now any stress tests will remain voluntary and will not be backed up by penalties. A renewed push to phase out nuclear energy from Europe has been led b
Published 22 Mar, 2011 12:00am
Nuke agency to begin review of US plant safety

Nuke agency to begin review of US plant safety

Nuclear energy regulators are meeting Monday to receive an update on the status of Japan's stricken nuclear complex and begin short-term and long-term reviews of US nuclear safety. The five-member Nuclear Regulatory Commission will get an update from its
Published 22 Mar, 2011 12:00am
Israel, Hamas fail to make progress on violations probe: UN

Israel, Hamas fail to make progress on violations probe: UN

Both Israel and the Palestinian group Hamas have failed to make credible progress in investigating claims of war crimes committed during the 2008 conflict in Gaza, a UN committee said Monday. In a report presented to the UN Human Rights Council, Mary McGo
Published 22 Mar, 2011 12:00am
Obama courts Latin America

Obama courts Latin America

President Barack Obama visited Chile on Monday on a trip to reassert US influence in Latin America even as he tried to sell his decision to press military strikes against Libya's Muammar Gaddafi. Following his weekend visit to Latin America's economic pow
Published 22 Mar, 2011 12:00am
NASA tests Mars space suit in Argentine Antarctica

NASA tests Mars space suit in Argentine Antarctica

A NASA team has tested a space suit in a setting with extreme conditions akin to some of those found on Mars - an Argentine base in Antarctica - for possible use on a visit to the Red Planet. The NDX-1 space suit, designed by Argentine aerospace engineer
Published 22 Mar, 2011 12:00am
Pakistan favourite against stumbling West Indies

Pakistan favourite against stumbling West Indies

Pakistan takes momentum and confidence into Wednesday's first World Cup quarterfinal against a West Indies team that is lacking both. Pakistan sprung a surprise by finishing atop Group A and relegating Australia to third place by ending the three-time def
Published 22 Mar, 2011 12:00am
Australia win restored Pakistan image, says Afridi

Australia win restored Pakistan image, says Afridi

Pakistan's World Cup victory over Australia has restored the team's battered image and boosted their credentials as champions-in-waiting, skipper Shahid Afridi told AFP on Monday. Pakistan upstaged Australia by four wickets to end the defending champions'
Published 22 Mar, 2011 12:00am
Yuvraj urges India to exploit Aussie 'weakness'

Yuvraj urges India to exploit Aussie 'weakness'

India star Yuvraj Singh has told his team-mates to seize the moment and capitalise on Australia's vulnerability when the teams meet in Thursday's World Cup quarter-final. Yuvraj scored a century and took two wickets with his left-arm spinners as India bea
Published 22 Mar, 2011 12:00am
P&T gymkhana lift SPM cricket title

P&T gymkhana lift SPM cricket title

P&T gymkhana overwhelmed SPM colts by 60 runs to clinch the final of first SPM Club Cricket on Monday. P&T gymkhana gave no room to rivals in the final at Ali Garh Ground, Model Town after raced to 314-9 in allotted 75 overs. The chief guest Shafiq Ahmed
Published 22 Mar, 2011 12:00am
Bangladesh assure West Indies of 'state-level' security

Bangladesh assure West Indies of 'state-level' security

Bangladesh will ramp up security to 'state-level' for the West Indies team in an attempt to ensure their World Cup quarter-final passes off trouble-free, a senior police officer said Monday. The West Indies will take on Pakistan on Wednesday, with Banglad
Published 22 Mar, 2011 12:00am
Djkovic wins Indian Wells crown

Djkovic wins Indian Wells crown

Australian Open champion Novak Djokovic won the ATP Indian Wells title on Sunday, rallying to beat world No 1 Rafael Nadal 4-6, 6-3, 6-2 and improve his record this season to 18-0. Djokovic, who took over the No 2 world ranking by beating Roger Federer in
Published 22 Mar, 2011 12:00am
Wozniacki wins women's title

Wozniacki wins women's title

World No 1 Caroline Wozniacki claimed her 14th career title, outlasting France's Marion Bartoli 6-1, 2-6, 6-3 in the WTA Indian Wells final on Sunday. Denmark's Wozniacki captured her second title of 2011 and becomes the eighth different women's champion
Published 22 Mar, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc extended losses against the dollar and the euro on Monday as efforts by wealthy nations to calm markets following the devastating Japanese tsunami continued to underpin a recovery in confidence. This followed the franc's sharp drop against
Published 22 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 Monday. 72.30/72.48 (previous 71.99/72.40) Call Money Rates: 11.00-12.00 percent (previous 11.00-12.00 percent).
Published 22 Mar, 2011 12:00am
Euro interbank rates rise

Euro interbank rates rise

Euro interbank lending rates rose on Monday as ECB officials indicated an April interest rate hike was still very much on the cards, and analysts said there was still room to price in further tightening this year. European Central Bank President Jean-Clau
Published 22 Mar, 2011 12:00am
Yuan at record versus dollar

Yuan at record versus dollar

The yuan ended at a record high against the dollar on Monday after the People's Bank of China lifted the mid-point to a new peak, signalling its intentions to use the yuan as another inflation-fighting tool. The central bank surprised markets last Friday
Published 22 Mar, 2011 12:00am
Asian currencies inch higher

Asian currencies inch higher

Regional currencies in Asia inched higher on Monday on expectations central bank will focus on inflation-control amid clear signs of progress in tackling atomic crisis in Japan and on higher oil prices. With oil prices jumping on Western's strike to Libya
Published 22 Mar, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee ended stronger on Monday supported by the euro's gains against the dollar, but surging oil prices put a lid on further appreciation and choppy domestic shares provided little direction. The partially convertible rupee closed at 45.0050/01
Published 22 Mar, 2011 12:00am
Yen slips in London

Yen slips in London

The yen fell back towards its post-intervention lows on Monday, with speculators wary of pushing it higher against the dollar in case of more co-ordinated selling of the Japanese currency by the Group of Seven nations. Traders said the first joint G7 inte
Published 22 Mar, 2011 12:00am
Early trade in New York: Yen falls broadly

Early trade in New York: Yen falls broadly

The yen fell against the dollar for a second straight day on Monday, with investors wary of more central bank selling to weaken the Japanese currency, though markets could test authorities' resolve by pushing the pair back toward the 80 level.
Published 22 Mar, 2011 12:00am
Yen defensive in Asia

Yen defensive in Asia

The yen stayed on the defensive on Monday, but losses were limited, in a sign that further action may be needed to curb the Japanese currency after the first G7 joint intervention in over a decade. Analysts said the G7 deal was more likely an attempt to d
Published 22 Mar, 2011 12:00am
Sterling hits two-week high versus dollar

Sterling hits two-week high versus dollar

Sterling hit a two-week high against the dollar on Monday, leaving it poised for a possible test of its highest level in more than a year, particularly if UK data shows another rise in already high UK inflation. UK annual CPI, due on Tuesday, is expected
Published 22 Mar, 2011 12:00am
FTSE gains on M&A activity

FTSE gains on M&A activity

Miners, banks and engineers drove gains in Britain's top share index by the close on Monday as hope grew that the nuclear crisis in Japan is easing, while heavyweight Vodafone was boosted by M&A activity. Mobile operator Vodafone gained 3.6 percent after
Published 22 Mar, 2011 12:00am
Australia shares rise

Australia shares rise

Australian shares rose 0.4 percent on Monday, reversing early losses as energy, mining and financial stocks found favour, though volumes were below average as investors remained cautious after the market's recent volatility. After a weaker start on a spik
Published 22 Mar, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks finished up 0.87 percent on Monday, supported by commodities such as chemical issues after Western air strikes on Libya. The main TAIEX share index rose 72.96 points to 8,467.71, after opening up 0.32 percent. "Investors were very cautious a
Published 22 Mar, 2011 12:00am
Europe shares at one-week high

Europe shares at one-week high

Gains in telcos led European shares to a one-week closing high on Monday after Deutsche Telekom sold its T-Mobile USA unit for $39 billion, fuelling expectations of a further pick-up in mergers and acquisitions. The pan-European FTSEurofirst 300 index of
Published 22 Mar, 2011 12:00am
Gulf markets muted as Saudi feelgood factor fades

Gulf markets muted as Saudi feelgood factor fades

Most Gulf Arab markets rose on Monday, but gains prompted by Saudi Arabia's latest $93 billion social spending plan were tempered by doubts over how this would be implemented. Saudi Arabia's index, the largest Gulf Arab market, rose 0.2 percent, having su
Published 22 Mar, 2011 12:00am
Cairo bourse to reopen Wednesday: state TV

Cairo bourse to reopen Wednesday: state TV

Egypt's stock exchange, which suspended trading in January at the start of protests that resulted in the downfall of Hosni Mubarak, is scheduled to reopen on Wednesday, state television reported. "The stock market will start working again (...) on Wednesd
Published 22 Mar, 2011 12:00am
Deutsche Telekom shares soar on AT&T deal

Deutsche Telekom shares soar on AT&T deal

Shares in Deutsche Telekom soared more than 10 percent on Monday as investors welcomed the planned sale of the German firm's T-Mobile USA unit to AT&T in a $39-billion deal. At 10:34 am, Deutsche Telekom stock was trading at 10.78 euros, up 12.4 percent,
Published 22 Mar, 2011 12:00am
Deutsche Telekom shares soar on AT&T deal

Deutsche Telekom shares soar on AT&T deal

Shares in Deutsche Telekom soared more than 10 percent on Monday as investors welcomed the planned sale of the German firm's T-Mobile USA unit to AT&T in a $39-billion deal. At 10:34 am, Deutsche Telekom stock was trading at 10.78 euros, up 12.4 percent,
Published 22 Mar, 2011 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares rose on Monday lifted by firm gains in refiners and transporters including SK Innovation and Korean Air Line, but military action against Libya kept investors on edge. The Korea Composite Stock Price Index ended up 1.13 percent at 2,003.42 po
Published 22 Mar, 2011 12:00am
Japanese markets closed

Japanese markets closed

Japanese markets were closed on Monday for the spring equinox holiday.
Published 22 Mar, 2011 12:00am
Monday's midday trade: Wall Street rise

Monday's midday trade: Wall Street rise

US stocks advanced more than 1 percent on Monday after AT&T said it would buy wireless rival T-Mobile, sparking expectations of more deal activity, while investors kept close watch on Japan's nuclear crisis. The AT&T deal, which would create the largest w
Published 22 Mar, 2011 12:00am
Hong Kong, China shares higher

Hong Kong, China shares higher

Hong Kong and China shares finished higher on Monday amid lingering caution over Libya and easing concerns on Japan's nuclear situation, as investors largely shrugged off Beijing's latest tightening move. The benchmark Hang Seng Index finished up 1.73 per
Published 22 Mar, 2011 12:00am
Indian shares slip

Indian shares slip

Indian shares edged 0.2 percent lower in a choppy trading session on Monday as an escalating Libyan crisis and firm oil prices weighed on investor sentiment. Oil prices rose by more than 1 percent on Monday as a United Nations mandated wave of air strikes
Published 22 Mar, 2011 12:00am
South East Asian markets: Malaysia at highest in over a week

South East Asian markets: Malaysia at highest in over a week

Southeast Asian stock markets rose on Monday as worries about Japan's nuclear problems eased a little, but volume was thin as investors remained concerned about oil prices after Western powers launched air strikes on Libya. Investors bought shares in what
Published 22 Mar, 2011 12:00am
Gazprom ready to up Europe exports to help Japan

Gazprom ready to up Europe exports to help Japan

Russian gas export monopoly Gazprom said on Monday it was ready to boost supplies to Europe under a proposal by Prime Minister Vladimir Putin that would allow Europe-bound liquefied gas to be rerouted to Japan. Last weekend Putin proposed raising Russian
Published 22 Mar, 2011 12:00am
Venezuela says no need for Opec meeting despite Libya

Venezuela says no need for Opec meeting despite Libya

Venezuela's Oil Minister Rafael Ramirez said there was no need for an emergency Opec meeting despite military attacks by Western nations on fellow member Libya, state media said on Monday. "No, there is no sense to it," Ramirez was quoted as telling the S
Published 22 Mar, 2011 12:00am
Germany's MAN hikes dividend to Volkswagen eightfold

Germany's MAN hikes dividend to Volkswagen eightfold

German truck maker MAN SE proposed an eightfold payout hike to shareholders like Volkswagen, much higher than expected, although it posted full-year results that fell shy of consensus. On Monday, the company also forecast profitability would rise this yea
Published 22 Mar, 2011 12:00am
EU agree on capital, ESM loan pricing

EU agree on capital, ESM loan pricing

The eurozone's permanent bailout fund, the European Stability Mechanism, will be backed by paid-in and callable capital and offer loans more cheaply than the temporary facility does now, a eurozone source said. The ESM, which is to have an effective lendi
Published 22 Mar, 2011 12:00am
Wen hopeful on global economy despite China inflation

Wen hopeful on global economy despite China inflation

Chinese Premier Wen Jiabao said on Monday the country must find a balance between generating jobs and taming inflation, saying the government should be judged on its ability to deliver on both counts. "Our task is to strike the right balance between these
Published 22 Mar, 2011 12:00am
Zimbabwe, China sign $585 million in deals

Zimbabwe, China sign $585 million in deals

Zimbabwe and China on Monday signed a raft of agreements worth $585 million (413 million euros) aimed at reviving the southern African country's health, mining and agriculture sectors. "We acknowledge the efforts by the China Development Bank to engage go
Published 22 Mar, 2011 12:00am
ECB warns on rates

ECB warns on rates

European central bankers signalled on Monday they stood ready to raise interest rates next month despite uncertainty linked to Japan's nuclear crisis and the ongoing struggles of euro members Greece, Ireland and Portugal.
Published 22 Mar, 2011 12:00am
ECB watching Japan impact 'very carefully', says Trichet

ECB watching Japan impact 'very carefully', says Trichet

The president of the European Central Bank said Monday he was watching very closely the global impact of the earthquake and tsunami on Japan, the world's third-largest economy. "We are looking very carefully at all what has happened in terms of the impact
Published 22 Mar, 2011 12:00am
US home sales tumble, prices near nine-year low

US home sales tumble, prices near nine-year low

Sales of previously owned US homes plunged in February and prices hit their lowest level in nearly nine years, implying a housing market recovery was still a long way off. The National Association of Realtors said on Monday sales fell 9.6 percent month ov
Published 22 Mar, 2011 12:00am
Zoellick urges new role for World Bank in Middle East

Zoellick urges new role for World Bank in Middle East

World Bank chief Robert Zoellick on Monday said the poverty-fighting institution needs to rethink its role in tackling economic and social problems highlighted by protests in the Middle East and North Africa. "We have produced a number of flagship reports
Published 22 Mar, 2011 12:00am
Citi to resume dividend

Citi to resume dividend

Citigroup Inc will slash the number of common shares outstanding and reintroduce a dividend, taking another step in its long recovery from the brink of failure during the financial crisis. Many of the biggest US banks announced dividend hikes on Friday af
Published 22 Mar, 2011 12:00am
Citi to resume dividend

Citi to resume dividend

Citigroup Inc will slash the number of common shares outstanding and reintroduce a dividend, taking another step in its long recovery from the brink of failure during the financial crisis. Many of the biggest US banks announced dividend hikes on Friday af
Published 22 Mar, 2011 12:00am
Nokia sees shortages as some Japan plants restart

Nokia sees shortages as some Japan plants restart

Nokia faces shortages of some phones due to disruption caused by Japan's devastating earthquake, although the mobile phone maker said the impact on earnings would be limited. Nokia's warning came after more positive news from Japan, with Sony Corp saying
Published 22 Mar, 2011 12:00am
US Treasury to sell $142 billion of mortgage assets

US Treasury to sell $142 billion of mortgage assets

The US Treasury Department on Monday said it would start selling-off mortgage-backed securities worth an estimated $142 billion, in an effort to close another chapter of the financial crisis. The department said each month it will offload up to $10 billio
Published 22 Mar, 2011 12:00am
US Treasury to sell $142 billion of mortgage assets

US Treasury to sell $142 billion of mortgage assets

The US Treasury Department on Monday said it would start selling-off mortgage-backed securities worth an estimated $142 billion, in an effort to close another chapter of the financial crisis. The department said each month it will offload up to $10 billio
Published 22 Mar, 2011 12:00am
US top court allows Fed bailout records release

US top court allows Fed bailout records release

The Supreme Court let stand a ruling that the US Federal Reserve must disclose details about its emergency lending programs to banks during the financial crisis in 2008. A group representing major commercial banks had asked the high court to reverse a rul
Published 22 Mar, 2011 12:00am
Chinese company to invest in Brazil's agricultural complex

Chinese company to invest in Brazil's agricultural complex

China's Chong Qing Grain Group plans to invest 4 billion reais ($2.4 billion) in an agricultural complex in Brazil's north-eastern state of Bahia, local media reported on Monday, expanding China's growing presence in Brazil. The investment will include a
Published 22 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 341,467 tonnes of cargo including 220,596 tonnes of import cargo, 120,871 tonnes of export cargo and 6,658 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 220,596 tonnes comp
Published 22 Mar, 2011 12:00am
Russian grain prices fall

Russian grain prices fall

Russian grain prices fell last week on intervention sales of government stocks, analysts said on Monday. The government has already sold around 710,000 tonnes of grain at intervention tenders, including 96,000 tonnes last week. In the south of Russia, thi
Published 22 Mar, 2011 12:00am
India may allow 200,000 tonnes of sugar exports

India may allow 200,000 tonnes of sugar exports

India is likely to allow 200,000 tonnes of sugar exports on Tuesday under unrestricted sales, less than half a million tonne permitted earlier, industry sources said, a move seen putting more pressure on global prices. India, the world's top producer afte
Published 22 Mar, 2011 12:00am
Indonesia buys 15,700 tonnes of white sugar

Indonesia buys 15,700 tonnes of white sugar

Indonesian state plantation firm PTPN XI has bought 15,700 tonnes of white sugar from India and Thailand, the firm said on Monday. The white sugar will be delivered before April 15, and was bought through direct negotiations with traders, after a series o
Published 22 Mar, 2011 12:00am
Sri Lanka's January-February tea output down

Sri Lanka's January-February tea output down

Sri Lanka's year-on-year tea production fell 18 percent in the first two months of 2011 owing to abnormally heavy monsoon rains that slammed the Indian Ocean island, the state-run tea board said on Monday. February's output fell 7.9 percent to 21.7 millio
Published 22 Mar, 2011 12:00am
Masoor, dall Canada fall on grain market

Masoor, dall Canada fall on grain market

A few changes were seen on the wholesales grain market on Monday in process of trading, dealers said. On the cereal side, makai was quoted at Rs 2850-3000, masoor Canada low type lost Rs 500 to Rs 6000 and best type shed Rs 100 to Rs 6500 and masoor dall
Published 22 Mar, 2011 12:00am
No deal seen on cotton market as trade resists new tax measures

No deal seen on cotton market as trade resists new tax measures

Mills were conspicuous by their absence on the cotton market on Monday as there seems to be no motivating factors, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12,500, they said. In Sindh and Punjab phutti price of
Published 22 Mar, 2011 12:00am
Oil cake market rates

Oil cake market rates

Bullish trend was seen on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The March vaida that had closed on the weekend at Rs 1246.80 opened with a solid gain of Rs 2.00 at Rs 1248.80. The May contract which closed at
Published 22 Mar, 2011 12:00am
US Plains HRW wheat bids mostly steady

US Plains HRW wheat bids mostly steady

Hard red winter wheat basis bids were mostly steady in the US Plains on Monday in quiet trade, dealers said. There were no new farmer sales, but deliveries against the March contract continued, dealers said. Grain was loaded onto barges in north-eastern O
Published 22 Mar, 2011 12:00am
Facts about safe drinking water in Pakistan

Facts about safe drinking water in Pakistan

Safe drinking water is the basic need of human being but it is not in access of each and every person particularly in developing countries where is an acute problem. This article defines the state of the Pakistan's water supply and what we can do to impro
Published 22 Mar, 2011 12:00am
Message from President, ICAP

Message from President, ICAP

In the extraordinary times we are living, we need extraordinary leaders to propel us forward. The role of a CFO has always been vital for the growth of the corporation and post financial meltdown has increased this more.
Published 22 Mar, 2011 12:00am
Message from CFO - the new champions of innovation

Message from CFO - the new champions of innovation

Finance once tantamount to being mundane, inspiring fear, boredom, or even both on the part of business leaders has transformed drastically. Today, finance has moved well beyond the realm of technical valuation with urgent changes in the business environm
Published 22 Mar, 2011 12:00am
ABL AMC - a shining star in the fund management industry

ABL AMC - a shining star in the fund management industry

Mutual funds are fast becoming the preferred vehicles of securities investments for the general public and corporates world-wide. Given the wide variety of structured products offered by the mutual fund industry, investors have numerous options to invest
Published 22 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 22 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 22 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 Monday (March 21, 2011).

Published 22 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 Monday (March 21, 2011).

Published 22 Mar, 2011 12:00am
Rs 11.5 billion bailout package for Railways deferred

Rs 11.5 billion bailout package for Railways deferred

The Ministry of Finance has deferred a Federal Cabinet's approved bailout package of Rs 11.5 billion to Pakistan Railways (PR), informed sources revealed exclusively to Business Recorder.
Published 22 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 Monday (March 21, 2011).

Published 22 Mar, 2011 12:00am
Rs 11.5 billion bailout package for Railways deferred

Rs 11.5 billion bailout package for Railways deferred

The Ministry of Finance has deferred a Federal Cabinet's approved bailout package of Rs 11.5 billion to Pakistan Railways (PR), informed sources revealed exclusively to Business Recorder.
Published 22 Mar, 2011 12:00am
Rs 11.5 billion bailout package for Railways deferred

Rs 11.5 billion bailout package for Railways deferred

The Ministry of Finance has deferred a Federal Cabinet''s approved bailout package of Rs 11.5 billion to Pakistan Railways (PR), informed sources revealed exclusively to Business Recorder.
Published 22 Mar, 2011 12:00am
World divided days after Libya action: Putin, Beijing, renew criticism

World divided days after Libya action: Putin, Beijing, renew criticism

The international community was deeply divided over Libya on Monday, just days after the United Nations passed a no-fly resolution that allowed Western air strikes to protect civilians from Muammar Gaddafi's forces. Russia and China abstained in Thursday'
Published 22 Mar, 2011 12:00am
World divided days after Libya action: Putin, Beijing, renew criticism

World divided days after Libya action: Putin, Beijing, renew criticism

The international community was deeply divided over Libya on Monday, just days after the United Nations passed a no-fly resolution that allowed Western air strikes to protect civilians from Muammar Gaddafi's forces. Russia and China abstained in Thursday'
Published 22 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 Monday (March 21, 2011).

Published 22 Mar, 2011 12:00am
Yemen's top generals back democracy protesters

Yemen's top generals back democracy protesters

Top generals, ambassadors and some tribes threw their support behind Yemen's anti-government protesters on Monday in a major blow to President Ali Abdullah Saleh as he tries to survive growing demands for his immediate departure. The president, a perennia
Published 22 Mar, 2011 12:00am
Yemen's top generals back democracy protesters

Yemen's top generals back democracy protesters

Top generals, ambassadors and some tribes threw their support behind Yemen's anti-government protesters on Monday in a major blow to President Ali Abdullah Saleh as he tries to survive growing demands for his immediate departure. The president, a perennia
Published 22 Mar, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 21, 2011).
Published 22 Mar, 2011 12:00am
Bahrain says it has foiled 'foreign plot'

Bahrain says it has foiled 'foreign plot'

Bahrain's king said a foreign plot against his Sunni-led island state had been foiled, and the head of the Gulf Co-operation Council warned that interference by Shia Iran in the Gulf Arab states would not be tolerated. Confrontation between Sunnis and Shi
Published 22 Mar, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 21, 2011).

Published 22 Mar, 2011 12:00am
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