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Archive - 2011-03-26
PM Gilani calls on President Zardari
Top News

PM Gilani calls on President Zardari

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani called on President Asif Ali Zardari on Saturday night. The meeting las
Published 26 Mar, 2011 09:37pm
Kazmi's remand extended for four days
Top News

Kazmi's remand extended for four days

ISLAMABAD: Hamid Saeed Kazmi handed over to the FIA on another four-day physical remand on Saturday. The former federal
Published 26 Mar, 2011 04:17pm
FPCCI delegation visits CPLC
Top News

FPCCI delegation visits CPLC

KARACHI: A delegation of FPCCI Standing Committee on young entrepreneurs and youth affairs visited CPLC office here, to
Published 26 Mar, 2011 03:59pm
Indian PM commits to reforms
Top News

Indian PM commits to reforms

NEW DELHI: India's prime minister has reaffirmed his Congress led government's commitment to economic reforms as the adm
Published 26 Mar, 2011 07:25am
Industry Review 2010
BR Research

Industry Review 2010

Editors Note The countrys economy - a semi-industrialized economy - is in shambles on account of a variety of factors. One of the key areas
Published 26 Mar, 2011 12:00am
Industry Review 2010
BR Research

Industry Review 2010

EDITORS NOTE The countrys economy - a semi-industrialized economy - is in shambles on account of a variety of factors. One of the key areas
Published 26 Mar, 2011 12:00am
Time for new industrial order
BR Research

Time for new industrial order

Short-termism not terrorism is the biggest dampener of long-term investor confidence in Pakistan; whimsical changes in the often irrational
Published 26 Mar, 2011 12:00am
Rent-seeking in Pakistan
BR Research

Rent-seeking in Pakistan

A large number of Pakistani industries has been protected and pampered for too long and the result, in many cases, is that even after decade
Published 26 Mar, 2011 12:00am
Staying afloat in tough times
BR Research

Staying afloat in tough times

Pakistans pharma industry has been subject to sticky prices since 2001 for the bulk of the registered products, which has led to a combinati
Published 26 Mar, 2011 12:00am
The issues behind drug priciing
BR Research

The issues behind drug priciing

Osman Waheed, President, Ferozsons Laboratories Limited for over a decade, established Pakistans first Biotech Pharmaceutical manufacturing
Published 26 Mar, 2011 12:00am
Consumption and consumerism
BR Research

Consumption and consumerism

The consumer goods business of any country is directly linked to the national economy. The key demand drivers in this sector include increas
Published 26 Mar, 2011 12:00am
Dealing with the auto dilemma
BR Research

Dealing with the auto dilemma

Ali Habib heads and actively oversees the operations of The House of Habib (HOH) - a conglomerate of companies ranging from automobiles to r
Published 26 Mar, 2011 12:00am
Fertile matters: Urea, DAP
BR Research

Fertile matters: Urea, DAP

Fertiliser industry has played a key role in the development of agriculture in the country. Demand for fertilisers is derived from the need
Published 26 Mar, 2011 12:00am
Optimism despite hurdles
BR Research

Optimism despite hurdles

Waqar Malik is the country representative and senior executive of the AkzoNobel Group - the largest global paints and coatings company - and
Published 26 Mar, 2011 12:00am
Cement makers in a rut
BR Research

Cement makers in a rut

Earning money in the cement business nowadays is not as simple as the manufacturers had expected at the time of approval of proposals for ce
Published 26 Mar, 2011 12:00am
Unlocking management gains
BR Research

Unlocking management gains

CEO of Ibrahim Fibres Limited and Chairman of Allied Bank Limited, Mohammad Naeem Mukhtar, has written various papers on textile spinning te
Published 26 Mar, 2011 12:00am
Educating future industrialist
BR Research

Educating future industrialist

Tariq Rehman joined EMCO Industries - a company manufacturing electrical accessories and ceramic materials - in 1972, and is currently servi
Published 26 Mar, 2011 12:00am
Invest in research now
BR Research

Invest in research now

Proving Pakistans mettle internationally High-level competitions on an international scale can provide a good breeding ground for encouragin
Published 26 Mar, 2011 12:00am
New strategy for national growth
BR Research

New strategy for national growth

For any country, the planning commission is of vital importance. It sets the long-term growth policies for the country, implementation of wh
Published 26 Mar, 2011 12:00am
Saudi Arabia hands Medvedev 'message from king'

Saudi Arabia hands Medvedev 'message from king'

Saudi Arabia's foreign minister on Friday handed Russian President Dmitry Medvedev a message from King Abdullah in a surprise closed-door meeting in the Kremlin. Prince Saud al-Faisal gave Medvedev the "personal message" at a meeting also attended by Russ
Published 26 Mar, 2011 12:00am
German parliament backs Afghan AWACS mission

German parliament backs Afghan AWACS mission

Germany's parliament has endorsed sending up to 300 crew members to man AWACS surveillance planes in Afghanistan - a move meant to take pressure off Nato allies enforcing a no-fly zone over Libya. Parliament's lower house on Friday voted 407-113 with 32 a
Published 26 Mar, 2011 12:00am
Tibet exile government accepts Dalai Lama retirement

Tibet exile government accepts Dalai Lama retirement

The Tibetan parliament-in-exile agreed on Friday to accept the Dalai Lama's resignation from politics, paving the way for a new leadership structure within the movement. The Dalai Lama will continue to lead the Tibetan cause in his more important role as
Published 26 Mar, 2011 12:00am
WikiLeaks cable shows US at odds with ElBaradei

WikiLeaks cable shows US at odds with ElBaradei

Washington's differences with Mohamed ElBaradei over his Middle East views and his handling of nuclear investigations in Iran and Syria persisted into the last months of his tenure as head of the International Atomic Energy Agency, according to a US diplo
Published 26 Mar, 2011 12:00am
Bahrain forces quash small protests in 'Day of Rage'

Bahrain forces quash small protests in 'Day of Rage'

Small protests broke out in Bahrain's capital for a planned "Day of Rage" on Friday despite a ban under martial law imposed last week, but were quickly crushed by security forces fanned out across Manama.
Published 26 Mar, 2011 12:00am
100 hurt as Jordan pro-reform protesters, loyalists clash

100 hurt as Jordan pro-reform protesters, loyalists clash

More than 100 people were injured Friday as pro-reform protesters and government supporters clashed in Amman, prompting police to use water cannons to disperse them. Anti-riot police also broke up a protest camp for students and arrested several of them,
Published 26 Mar, 2011 12:00am
UK police investigating racist Obama signs

UK police investigating racist Obama signs

Campus police at the University of Kentucky are investigating two incidents in which a sign was hung that used a racial slur to refer to President Barack Obama. Police spokesman Jay Blanton says a professor found the first one on March 15 hanging on a doo
Published 26 Mar, 2011 12:00am
Australia apologises to Afghan government over soldiers' racist comments

Australia apologises to Afghan government over soldiers' racist comments

Australia's government said on Friday it had apologised to Afghanistan over racist comments and videos posted on the Facebook social networking site by Australian soldiers based in the country's restive south. Australia's military said it had launched an
Published 26 Mar, 2011 12:00am
US bumps up fourth quarter growth, seen slowing in early 2011

US bumps up fourth quarter growth, seen slowing in early 2011

The US economy grew more quickly than previously thought in the fourth quarter, the government said on Friday, but signs of softer consumer and business spending may slow its momentum in early 2011. Another report showed consumers in March were their most
Published 26 Mar, 2011 12:00am
EU agrees crisis package, Portugal clouds summit

EU agrees crisis package, Portugal clouds summit

European leaders agreed a new package of anti-crisis measures at a two-day summit, but were forced to delay increasing their rescue fund and acknowledged they faced new threats from a government collapse in Portugal.
Published 26 Mar, 2011 12:00am
Russia keeps rates on hold

Russia keeps rates on hold

Russia unexpectedly left interest rates on hold on Friday, taking advantage of a slight easing in inflation to raise only its reserve requirements in a move to curb liquidity and discourage any speculative rouble rally.
Published 26 Mar, 2011 12:00am
Apple fans queue overnight to beat iPad shortages

Apple fans queue overnight to beat iPad shortages

Hundreds of customers queued outside Apple stores in Asia and Europe to buy an iPad 2 tablet computer amid fears that shortages in the United States would be repeated abroad.
Published 26 Mar, 2011 12:00am
India to borrow $56 billion in April-September

India to borrow $56 billion in April-September

India on Friday said it would borrow 60 percent of its full 2011/12 year borrowing target of 4.17 trillion rupees ($93 billion) by end-September, slightly below market expectations, sending bond yields down. The government will issue 2.5 trillion rupees (
Published 26 Mar, 2011 12:00am
India to borrow $56 billion in April-September

India to borrow $56 billion in April-September

India on Friday said it would borrow 60 percent of its full 2011/12 year borrowing target of 4.17 trillion rupees ($93 billion) by end-September, slightly below market expectations, sending bond yields down. The government will issue 2.5 trillion rupees (
Published 26 Mar, 2011 12:00am
WTO rules against US in Brazil orange juice dispute

WTO rules against US in Brazil orange juice dispute

The World Trade Organisation on Friday ruled that some anti-dumping duties imposed by the United States on imports of Brazilian orange juice violated international trade rules. Brazil had claimed in a complaint filed in 2008 that the method used by Washin
Published 26 Mar, 2011 12:00am
Goldman slides to 10th spot in US M&A ranks

Goldman slides to 10th spot in US M&A ranks

Wall Street's most powerful bank, Goldman Sachs Group Inc is making its worst showing in US deal advisory rankings in more than two decades, sliding to 10th place in the first quarter of this year.
Published 26 Mar, 2011 12:00am
Fed unlikely to extend QE2

Fed unlikely to extend QE2

With the US economy on firmer footing the Federal Reserve Bank is unlikely to extend its bond-buying stimulus program beyond a planned $600 billion, several top Fed officials said on Friday.
Published 26 Mar, 2011 12:00am
US, China steel dispute goes to WTO court

US, China steel dispute goes to WTO court

The World Trade Organisation (WTO) on Friday referred to its court system a US complaint against China over anti-dumping duties that China has imposed on certain types of electrical steel. The issue now goes before a panel of the WTO's Dispute Settlement
Published 26 Mar, 2011 12:00am
Power outages could hamper Japanese recovery: IMF

Power outages could hamper Japanese recovery: IMF

Restoring power and government reconstruction spending are crucial to Japan's economy resuming growth, the IMF said Thursday, after Tokyo put the rebuilding cost of the March 11 earthquake at $309 billion. International Monetary Fund officials said they e
Published 26 Mar, 2011 12:00am
FTSE marches higher

FTSE marches higher

Gains in commodity stocks helped push Britain's top share index to its best week since November by close on Friday, but technical factors suggest further gains will be muted in the near future. Investor attention has shifted away from risks associated wit
Published 26 Mar, 2011 12:00am
European shares make biggest weekly gain in six months

European shares make biggest weekly gain in six months

European shares edged up on Friday, and recorded their biggest weekly gain in six months, with investors increasingly confident Japan's nuclear crisis and Middle East unrest would not derail global growth. The pan-European FTSEurofirst 300 index of top sh
Published 26 Mar, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose on Friday led by techs including Samsung Electronics and Woori Finance Holdings, but falls in Kumho Tire amid plant shutdowns weighed. The Korea Composite Stock Price Index (KOSPI) ended up 0.85 percent or 17.26 points at 2,054.04 points
Published 26 Mar, 2011 12:00am
Indian shares post best weekly gain since July 2009

Indian shares post best weekly gain since July 2009

Indian shares posted their best weekly gain in 20 months and rose 2.5 percent to a two-month closing high on Friday, as investors picked up bargains from battered down stocks ahead of the quarter-end. Software companies jumped after strong quarterly resul
Published 26 Mar, 2011 12:00am
Hong Kong, China shares gain

Hong Kong, China shares gain

Banks led a broad uptick on the Hong Kong and China markets on Friday, after Bank of China Ltd kick-started a slew of high profile earnings late on Thursday with better-than-expected results. At the same time, market players showed little tolerance for sh
Published 26 Mar, 2011 12:00am
Australian shares up

Australian shares up

Australian stocks closed firmer for the sixth straight trading day on Friday as strong leads from offshore markets and corporate takeover talk underpinned a 0.9 percent rise in the local market. Shares in Woodside Petroleum rose as much as 5.6 percent on
Published 26 Mar, 2011 12:00am
Treasuries ease

Treasuries ease

US Treasury traders were watching the spread between 10-year and 30-year yields for a profit-taking opportunity on Thursday, as prices in the Treasury market eased slightly in light trading. The spread between 10-year yields and 30-year yields has been on
Published 26 Mar, 2011 12:00am
Treasuries ease

Treasuries ease

US Treasury traders were watching the spread between 10-year and 30-year yields for a profit-taking opportunity on Thursday, as prices in the Treasury market eased slightly in light trading. The spread between 10-year yields and 30-year yields has been on
Published 26 Mar, 2011 12:00am
Taiwan stocks at two-week high

Taiwan stocks at two-week high

Taiwan stocks rose 0.4 percent to a two-week closing high on Friday as market sentiment improved after gains on Wall Street, with tech heavyweights like HTC and TSMC in the lead. Topping the most active list by turnover was smartphone maker HTC, up 0.95 p
Published 26 Mar, 2011 12:00am
Earnings hope lifts stocks, S&P above key resistance

Earnings hope lifts stocks, S&P above key resistance

US stocks advanced on Thursday as optimism about upcoming earnings and investor buying of the quarter's top performers lifted the S&P 500 above a key technical level. The S&P 500 broke above its 50-day moving average at 1,305, leading investors to believe
Published 26 Mar, 2011 12:00am
Friday's afternoon trade: Wall Street stays higher

Friday's afternoon trade: Wall Street stays higher

Wall Street advanced for a third straight day on Friday as the tech sector rose on upbeat outlooks, though weak trading volume hinted the rally lacks enthusiasm. All three major stock indexes looked to post gains for the week after two straight weeks of d
Published 26 Mar, 2011 12:00am
Nikkei rises

Nikkei rises

The Nikkei average rose on Friday to round off a week of gains as foreign investors scooped up battered shares, but their buying could ebb next week on persisting concerns about a crippled nuclear plant and power cuts. Foreign investors' net buying of Jap
Published 26 Mar, 2011 12:00am
Southeast Asian markets: Singapore tops gainers; foreigners lead buying

Southeast Asian markets: Singapore tops gainers; foreigners lead buying

Some Southeast Asian stock markets rose on Friday, with property shares pushing Singapore up almost 1 percent to a two-week high and regional refinery stocks rising on hopes for better margins. Investors were less worried about the economic impact from th
Published 26 Mar, 2011 12:00am
Yuan hits record high

Yuan hits record high

The yuan closed up against the dollar on Friday after setting a record high, buoyed by the People's Bank of China fixing its daily mid-point at a new peak. The PBOC has fixed a slew of record high mid-points since the start of this year, indicating the go
Published 26 Mar, 2011 12:00am
Rupiah at fresh four-year high, won up

Rupiah at fresh four-year high, won up

The South Korean won hit a one-month high and the Indonesian rupiah reached a fresh four-year peak as investors sensed funds coming in on revived risk appetite, spurring overall gains in their Asian peers, although intervention capped the rises.
Published 26 Mar, 2011 12:00am
Australian dollar eyes 29-year peak

Australian dollar eyes 29-year peak

The Australian dollar held within striking distance of a 29-year peak against a broadly softer greenback on Friday, underpinned by improving risk appetite and upbeat news on Australia's mining sector, while the New Zealand dollar hovered at three-week hig
Published 26 Mar, 2011 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee touched a fresh two-and-a-half month high on Friday on robust dollar inflows from corporate borrowings ahead of the fiscal year-end on March 31, with strong local shares also supporting. The partially convertible rupee ended at 44.6650/67
Published 26 Mar, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc trended lower against the euro and the dollar on Friday as traders began to raise allocations to risky assets, easing off positions in the franc, seen as a safe haven in choppy markets. The franc was 0.3 percent weaker against the euro com
Published 26 Mar, 2011 12:00am
Euro rises versus dollar

Euro rises versus dollar

The euro rose against the US dollar on Thursday on optimism European policymakers will be able to control a political and debt crisis in Portugal, though technical resistance could cap near-term upside. The fall of the Portuguese government following the
Published 26 Mar, 2011 12:00am
Early trade in New York: dollar gains versus euro

Early trade in New York: dollar gains versus euro

The US dollar rose to a session high against the euro on Friday and is likely to remain buoyant in the week ahead after a Federal Reserve official said the central bank will have to tighten monetary policy soon to avoid sowing the seeds of inflation.
Published 26 Mar, 2011 12:00am
Euro shrugs off Portugal worries; Aussie shines

Euro shrugs off Portugal worries; Aussie shines

The euro shrugged off concerns about a debt crisis in Portugal on Friday, supported by steady buying by Asian central banks, while the Australian dollar hovered near a 29-year peak versus the US dollar.
Published 26 Mar, 2011 12:00am
Dollar struggles in Asia

Dollar struggles in Asia

The dollar hovered near a 15-month low against a basket of currencies and was in sight of a 29-year trough against the Australian dollar as a bounce in equities suggested that risk appetites were on the mend. The euro dipped to a session low $1.4150 after
Published 26 Mar, 2011 12:00am
Sterling hits 2011 low versus euro

Sterling hits 2011 low versus euro

Sterling hovered close to 2011 lows versus the euro on Friday and was poised for further losses on concerns over UK economic growth and uncertainty over the timing of a Bank of England rate hike. The single European currency narrowly extended its 1 percen
Published 26 Mar, 2011 12:00am
Money markets head towards pricing three rate hikes

Money markets head towards pricing three rate hikes

Eurozone money markets are on their way to pricing in three interest rate hikes this year but short-dated government bond yields paint a less hawkish picture and may have room to rise. With European Central Bank policy makers keeping up their hawkish tone
Published 26 Mar, 2011 12:00am
New Zealand reach semis

New Zealand reach semis

South Africa's reputation as cricket's perennial chokers returned to haunt them as New Zealand pulled off a dramatic 49-run win on Friday to qualify for the World Cup semi-finals. The Black Caps, restricted to 221-8 after taking first strike, bundled out
Published 26 Mar, 2011 12:00am
New Zealand reach semis

New Zealand reach semis

South Africa's reputation as cricket's perennial chokers returned to haunt them as New Zealand pulled off a dramatic 49-run win on Friday to qualify for the World Cup semi-finals. The Black Caps, restricted to 221-8 after taking first strike, bundled out
Published 26 Mar, 2011 12:00am
Times of India apologises for match-fix claim

Times of India apologises for match-fix claim

India's leading newspaper apologised on Thursday for suggesting that a World Cup match between Australia and Zimbabwe was under investigation for match-fixing. The Times of India had claimed that the February 21 match in Ahmedabad was being probed by the
Published 26 Mar, 2011 12:00am
Sania caught in Indo-Pak 'war' with husband

Sania caught in Indo-Pak 'war' with husband

A mini-battle of loyalty is simmering between star couple Sania Mirza and Shoaib Malik as India gear to take on Pakistan in a high-voltage World Cup semi-final clash next week. Mirza, India's top-ranked women's tennis player, will be rooting for her count
Published 26 Mar, 2011 12:00am
Media laps up India win

Media laps up India win

A jubilant media Friday gloated over India's World Cup quarter-final victory over Australia that ended their 12-year reign as champions and set up a last-four clash with Pakistan. The five-wicket win achieved under pressure at the packed Sardar Patel Stad
Published 26 Mar, 2011 12:00am
Tennis stars take to pitch for Japan quake relief

Tennis stars take to pitch for Japan quake relief

Novak Djokovic Thursday pronounced a South Florida fund-raising football match in aid of disaster-stricken Japan a huge success and promised more of the same in the coming months. The Australian Open champion was just one of the global tennis stars in tow
Published 26 Mar, 2011 12:00am
India versus Pakistan - ultimate love-hate clash

India versus Pakistan - ultimate love-hate clash

The clash between India and Pakistan in the World Cup semi-finals will showcase one of the world's most intense sporting rivalries fuelled by nationalism, bloodshed and a shared history. On the cricket field, a knock-out World Cup match on Indian soil is
Published 26 Mar, 2011 12:00am
Troubled England all set for Sri Lanka: Strauss

Troubled England all set for Sri Lanka: Strauss

England captain Andrew Strauss shrugged off Michael Yardy's World Cup withdrawal on Friday, saying his players were all focused on Saturday's quarter-final against Sri Lanka. All-rounder Yardy left for home Thursday after suffering depression, leaving inj
Published 26 Mar, 2011 12:00am
Pressure on England and Sri Lanka, says Sangakkara

Pressure on England and Sri Lanka, says Sangakkara

Kumar Sangakkara refuses to believe Sri Lanka will be the only side under pressure before a packed home crowd in their quarter-final on Saturday, saying England will also feel the intensity. The 1996 winners go into the last of four quarter-finals with hu
Published 26 Mar, 2011 12:00am
Fit Muralitharan boosts Lanka

Fit Muralitharan boosts Lanka

The presence of Muttiah Muralitharan will provide a huge lift to the Sri Lankan team after the off-spinner was declared fit for Saturday's World Cup quarter-final showdown with England. Twenty million Sri Lankan fans were worried they might have seen the
Published 26 Mar, 2011 12:00am
National women football club championship from April 6

National women football club championship from April 6

Pakistan Football Federation (PFF) has approved as many as 24 teams for 4th National Women Football Club Championship 2011 to be held from 6-13 April 2011 simultaneously at four zones viz Karachi, Lahore, Islamabad and Peshawar.
Published 26 Mar, 2011 12:00am
Two matches decided in seniors cricket

Two matches decided in seniors cricket

Two matches were decided in 13th National Seniors Cricket Cup when Multan Veterans, Sheikhupura Lions earned full points on Friday. Multan Veteran overwhelmed Khanewal Veteran in South Punjab (Group-C), piling up 220-6 and allowed Khanewal Veterans only 1
Published 26 Mar, 2011 12:00am
Plastic mouldings up on Jodia Bazar

Plastic mouldings up on Jodia Bazar

The trading in plastic moulding compounds ended up on Jodia Bazar here on Friday. The following changes were noted.
Published 26 Mar, 2011 12:00am
KCA raises spot rate by Rs 200 to Rs 12,200 on cotton market

KCA raises spot rate by Rs 200 to Rs 12,200 on cotton market

Despite the low volume of trade, official spot rate was higher on the cotton market on Friday ahead of a crucial meeting of stake-holders with the finance minister, dealers said. Karachi Cotton Association (KCA) official spot rate was enhanced by Rs 200 a
Published 26 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 130,586 tonnes of cargo including 98,596 tonnes of import cargo, 31,990 tonnes of export cargo and 2,918 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 98,596 tonnes compris
Published 26 Mar, 2011 12:00am
US wheat prices rise

US wheat prices rise

Wheat prices rose on Friday, extending the prior session's advance, with the rise driven partly by adverse crop weather in the United States. Corn and soybean prices were also higher with the market's focus already turning to a major report to be issued b
Published 26 Mar, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday, as modest short-covering by funds and buying by local speculators lifted the market in thin trading activity. Chicago wheat and corn, which settled up more than 3 percent, led canola and soy futures higher. Ca
Published 26 Mar, 2011 12:00am
Ivorian cocoa prices fall

Ivorian cocoa prices fall

Cocoa prices fell at farms across Ivory Coast in the latest week as an ongoing export halt from the nation's ports thinned out buyers. In the centre-west region of Daloa, which produces a quarter of the Ivory Coast harvest, farmers said the farmgate price
Published 26 Mar, 2011 12:00am
No trade on grain market

No trade on grain market

No price change was seen on the wholesales grain and seed market on Friday as main participants were busy in preparations for Juma prayers, grain and seeds merchants group'srelease said.
Published 26 Mar, 2011 12:00am
US Midwest corn bids firmer

US Midwest corn bids firmer

Cash bids for corn firmed in at river locations in the US Midwest on Thursday, reflecting exporter demand at the US Gulf, while soyabean bids were mostly flat, dealers said. Farmer selling of both commodities was subdued despite a jump in Chicago Board of
Published 26 Mar, 2011 12:00am
US corn sale of 1.25 million tonnes seen likely to China

US corn sale of 1.25 million tonnes seen likely to China

The United States sold 1.25 million tonnes of US corn to an unspecified buyer, believed to be China, ending a week of speculation that roiled the markets in the absence of a confirmation until Friday. The US Department of Agriculture said 1 million tonnes
Published 26 Mar, 2011 12:00am
HRW wheat bids unchanged

HRW wheat bids unchanged

Hard red winter wheat basis bids were holding unchanged Friday in several US Plains locations. Railcar offers were light and mills were reported well stocked. Protein premiums on railcar hard red winter wheat to and through Kansas City rose 4 cents a bush
Published 26 Mar, 2011 12:00am
Poland urges EU to raise cap for sugar production

Poland urges EU to raise cap for sugar production

Poland's farm minister urged the European Union on Friday to raise the bloc's sugar production cap and said the Polish consumer protection body should investigate a recent rise in retail sugar prices. Poland's retail sugar prices have recently doubled to
Published 26 Mar, 2011 12:00am
Singapore February industrial output dips slightly

Singapore February industrial output dips slightly

Singapore's industrial output dipped slightly more than expected in February and could slow further in coming months after a massive earthquake and tsunami in Japan, one of the city-state's biggest export markets. The disaster could both reduce Japanese d
Published 26 Mar, 2011 12:00am
China should expand home purchase curbs across nation: think tank

China should expand home purchase curbs across nation: think tank

China should expand home purchase restrictions to the entire country over the next three years, a government think tank said on Friday, underscoring official intention to cool sky-high property prices. The government has already ordered 35 Chinese cities
Published 26 Mar, 2011 12:00am
South Korea to release 50,000 tonnes of rice to check price hike

South Korea to release 50,000 tonnes of rice to check price hike

South Korea, which is trying to curb rising inflation, said on Thursday it would release 50,000 tonnes of rice produced last year via public sales on March 31 to curb recent price rises. The agriculture ministry also said in a statement that it would deci
Published 26 Mar, 2011 12:00am
Philippine central bank sees March inflation at 4-5 percent

Philippine central bank sees March inflation at 4-5 percent

Philippine inflation could rise to its highest in two years in March on high cost of imported fuel, with consumer prices likely to peak in the second or third quarter, the central bank governor said on Friday. The central bank raised its key policy rate b
Published 26 Mar, 2011 12:00am
Macro tools may help financial systems: RBNZ governor

Macro tools may help financial systems: RBNZ governor

Macro instruments may help financial system resilience in crisis time and moderate credit cycles, but expectations need to be realistic, the Reserve Bank of New Zealand Governor said on Friday. Alan Bollard said policymakers were increasingly looking at m
Published 26 Mar, 2011 12:00am
Yemen ruler ready to step down, Syria protests spread

Yemen ruler ready to step down, Syria protests spread

Yemeni President Ali Abdullah said on Friday he was ready to cede power, the third Arab ruler who may be forced out by popular protests which began in North Africa and have now spread into the Gulf, Syria and Jordan. Saleh said he said he would cede power
Published 26 Mar, 2011 12:00am
Africa's Illovo says may opt to produce biofuels

Africa's Illovo says may opt to produce biofuels

South Africa's Illovo Sugar may opt to produce biofuel from sugarcane if it makes commercial sense, its managing director said late on Wednesday. South Africa's Department of Energy said earlier this month it would make a pronouncement on regulated bioeth
Published 26 Mar, 2011 12:00am
Yemen ruler ready to step down, Syria protests spread

Yemen ruler ready to step down, Syria protests spread

Yemeni President Ali Abdullah said on Friday he was ready to cede power, the third Arab ruler who may be forced out by popular protests which began in North Africa and have now spread into the Gulf, Syria and Jordan. Saleh said he said he would cede power
Published 26 Mar, 2011 12:00am
CWB lowers 2011-12 wheat values forecast

CWB lowers 2011-12 wheat values forecast

The Canadian Wheat Board projected lower new-crop wheat values on Thursday for the upcoming 2011/2012 (August-July) marketing year than it forecast a month ago. Values vary depending on class, grade and protein level. Wheat values down $23 to $28 per tonn
Published 26 Mar, 2011 12:00am
Japan wants supplementary budget by end-April

Japan wants supplementary budget by end-April

The Japanese government aims to have an emergency budget for post-quake relief and reconstruction by the end of April, Finance Minister Yoshihiko Noda said on Friday. Noda also said Japan should be careful about increasing its bond supply and that it will
Published 26 Mar, 2011 12:00am
Jordan issues tenders to buy 100,000 tonnes hard wheat

Jordan issues tenders to buy 100,000 tonnes hard wheat

Jordan's state grains buyer has issued a tender to purchase 100,000 tonnes of hard wheat from any origin, European traders said on Thursday. The bidding deadline is Mar. 31. Shipment was sought between the first half of July and second half of August. Jor
Published 26 Mar, 2011 12:00am
Message from President Islamic Republic of Pakistan

Message from President Islamic Republic of Pakistan

With great pride I would like to announce the completion of three years of democratic government. It has been a tumultuous journey in which democratic systems was strengthened and people-friendly programmes initiated.
Published 26 Mar, 2011 12:00am
Message from Prime Minister Islamic Republic of Pakistan

Message from Prime Minister Islamic Republic of Pakistan

Today the government has completed its third year in office. The performance of the government during the last three years should be measured against the background of challenges that faced the country when we took over. This background would give you an
Published 26 Mar, 2011 12:00am
Agenda of Mohtarma Benazir Bhutto Shaheed

Agenda of Mohtarma Benazir Bhutto Shaheed

Three years ago, when Pakistan People's Party formed the Government with its coalition partners, the country was facing numerous and the most severe challenges of its history.
Published 26 Mar, 2011 12:00am
TAPI gas pipeline project: appointment of 'Transaction Advisor' proposed

TAPI gas pipeline project: appointment of 'Transaction Advisor' proposed

As all stakeholders agreed to start first flow of gas in 2016, the technical teams of all participating countries have proposed to appoint 'Transaction Advisor' with a mandate to form consortium of investors to raise funds for the multibillion dollars Tur
Published 26 Mar, 2011 12:00am
Restoration of 1973 Constitution - Power to the people

Restoration of 1973 Constitution - Power to the people

The general elections of 2008 brought renewed hope to the people of Pakistan and reinforced their faith in democracy. The people of Pakistan voted Pakistan People's Party into power and party formed government at the federal level and coalition government
Published 26 Mar, 2011 12:00am
TAPI gas pipeline project: appointment of 'Transaction Advisor' proposed

TAPI gas pipeline project: appointment of 'Transaction Advisor' proposed

As all stakeholders agreed to start first flow of gas in 2016, the technical teams of all participating countries have proposed to appoint 'Transaction Advisor' with a mandate to form consortium of investors to raise funds for the multibillion dollars Tur
Published 26 Mar, 2011 12:00am
OGDCL - An overview

OGDCL - An overview

Oil and Gas Development Company (OGDCL) is the national Oil and Gas Company of Pakistan and the flagship of the country's E&P sector. The company is the local market leader in terms of reserves, production and acreage and is listed on all three stock exch
Published 26 Mar, 2011 12:00am
Nato sees 90-day campaign: West strikes Libyan forces

Nato sees 90-day campaign: West strikes Libyan forces

Western warplanes bombed Muammar Qadhafi's tanks and artillery in eastern Libya on Friday to try to break a battlefield stalemate and help rebels take the strategic town of Ajdabiyah. While the African Union said it was planning to facilitate talks to hel
Published 26 Mar, 2011 12:00am
Nato sees 90-day campaign: West strikes Libyan forces

Nato sees 90-day campaign: West strikes Libyan forces

Western warplanes bombed Muammar Qadhafi's tanks and artillery in eastern Libya on Friday to try to break a battlefield stalemate and help rebels take the strategic town of Ajdabiyah. While the African Union said it was planning to facilitate talks to hel
Published 26 Mar, 2011 12:00am
Three years: A story of Commitment and Service

Three years: A story of Commitment and Service

Today, the present PPP led democratic government has completed three of its five years term. The people's government came in to power at a time when the negative effects of the myopic decision making of last decade had started to appear on the national ec
Published 26 Mar, 2011 12:00am
Hundreds of Saudi Shias protest in east

Hundreds of Saudi Shias protest in east

Hundreds of Saudi Shias staged a protest in the kingdom's oil-producing Eastern Province on Friday calling for prisoner releases and a withdrawal of Saudi forces from Bahrain, activists said. The world's No 1 oil producer and a US ally, Saudi Arabia has n
Published 26 Mar, 2011 12:00am
FLOODS - An Integrated Effort Towards Crisis Management

FLOODS - An Integrated Effort Towards Crisis Management

Pakistan Flood-2010 was the worst natural disaster in the country's history. The disaster, termed as a 'Slow Evolving Tsunami' by the UN Secretary General, was an unprecedented natural disaster, affecting entire length of the country and causing maximum d
Published 26 Mar, 2011 12:00am
Hundreds of Saudi Shias protest in east

Hundreds of Saudi Shias protest in east

Hundreds of Saudi Shias staged a protest in the kingdom's oil-producing Eastern Province on Friday calling for prisoner releases and a withdrawal of Saudi forces from Bahrain, activists said. The world's No 1 oil producer and a US ally, Saudi Arabia has n
Published 26 Mar, 2011 12:00am
SEVENTH NFC AWARD - A Giant Step Towards Financial Autonomy

SEVENTH NFC AWARD - A Giant Step Towards Financial Autonomy

The Seventh National Finance Commission was constituted by President Asif Ali Zardari on July 24, 2009, within the dictates of Article 160 of the Constitution with a clear vision of the autonomy of Provinces which now have a much larger share in the feder
Published 26 Mar, 2011 12:00am
Arab unrest: perspectives - XVI

Arab unrest: perspectives - XVI

"Russia, China and India abdicated their responsibility in the Security Council by giving Susan Rice [US ambassador to UN] the leeway to use loose language to get into Libya. We need to say very clearly that the US, Britain and France must desist from any
Published 26 Mar, 2011 12:00am
Arab unrest: perspectives - XVI

Arab unrest: perspectives - XVI

"Russia, China and India abdicated their responsibility in the Security Council by giving Susan Rice [US ambassador to UN] the leeway to use loose language to get into Libya. We need to say very clearly that the US, Britain and France must desist from any
Published 26 Mar, 2011 12:00am
Digital Bangladesh

Digital Bangladesh

Hon'ble State Minister, Ministry of Science and Information & Communication Technology Government of the People's Republic of Bangladesh The Bengalee nation had a dream, which was shown by the greatest Bengalee of all times the Father of the Nation Bangab
Published 26 Mar, 2011 12:00am
Message from Chairman, Pakistan-Bangladesh Friendship Forum

Message from Chairman, Pakistan-Bangladesh Friendship Forum

On behalf of Pakistan Bangladesh Friendship Forum and on my own behalf I offer my heartiest and warmest felicitations to the people and Government of Bangladesh on the occasion of 40th Anniversary of National and Independence Day of Bangladesh.
Published 26 Mar, 2011 12:00am
Life Member, SAARC CCI CEO, Integrated Textiles Netwrok

Life Member, SAARC CCI CEO, Integrated Textiles Netwrok

I would take to this opportunity to extend my heartiest felicitations to the Government, brotherly Peoples, High Commissioner and H.E Ruhal Alam Siddiqui Deputy High Commissioner of Republic of Bangladesh on occasion of their 40th anniversary of Independe
Published 26 Mar, 2011 12:00am
Monetary Policy today

Monetary Policy today

The State Bank of Pakistan (SBP) will release Monetary Policy decision today (Saturday) for next two months which experts believe will be no different to the previous policy. In the last Monetary Policy review on January 29, 2011 the SBP left key policy r
Published 26 Mar, 2011 12:00am
Potentials of export trade of Bangladesh

Potentials of export trade of Bangladesh

Export Promotion Bureau has been executing its functions relentlessly to achieve equilibrium in the foreign trade and economic growth through continues development and promotion of the export trade of the country by sustaining in the rapid changing and st
Published 26 Mar, 2011 12:00am
Monetary Policy today

Monetary Policy today

The State Bank of Pakistan (SBP) will release Monetary Policy decision today (Saturday) for next two months which experts believe will be no different to the previous policy. In the last Monetary Policy review on January 29, 2011 the SBP left key policy r
Published 26 Mar, 2011 12:00am
Monetary Policy today

Monetary Policy today

The State Bank of Pakistan (SBP) will release Monetary Policy decision today (Saturday) for next two months which experts believe will be no different to the previous policy. In the last Monetary Policy review on January 29, 2011 the SBP left key policy r
Published 26 Mar, 2011 12:00am
KARACHI CHRONICLE: Cotton craze as never before

KARACHI CHRONICLE: Cotton craze as never before

The fashionable fabric this year is cotton. Except for bridal-wear, it has outstrip silks, velvets, georgette, chiffon and satin. It is the choice material used by designers for everyday and party outfits. It is estimated this year the sale of textiles an
Published 26 Mar, 2011 12:00am
LITERARY NOTES: Urdu art criticism

LITERARY NOTES: Urdu art criticism

Sixty four years of Pakistani have seen Urdu Art criticism in Pakistan grow from merely a few notices here and there to a fully grown genre. Before the partition Art criticism was a genre to be reckoned with in former Bombay, Bengal and Madras presidencie
Published 26 Mar, 2011 12:00am
ART FACTS: Reflections of the soul

ART FACTS: Reflections of the soul

Professor Rahat Naveed Masud's desire to explore spirituality in visual art leads her to the PhD thesis. 'Materialising the spiritual in contemporary painting in Pakistan an artist's exploration of figurative art and Sufism", which shows her deep interest
Published 26 Mar, 2011 12:00am
BRIDGE NOTES: Where lies the ace?

BRIDGE NOTES: Where lies the ace?

Problems of defence in bridge are challenging because they are an exercise in far sighted logic. That is why of all the aspects of bridge, there is a unanimous consensus that defence is its most difficult component. To be a good defender, you need a thoro
Published 26 Mar, 2011 12:00am
Benazir's assassination: all arrested, claims Malik

Benazir's assassination: all arrested, claims Malik

Federal Interior Minister Rehman Malik on Friday revealed that all the killers of former prime minister Benazir Bhutto have been arrested. The final investigation report pertaining to Benazir Bhutto assassination case would be presented before Central Exe
Published 26 Mar, 2011 12:00am
Shining little star

Shining little star

Physical activities are important for the healthy growth of young girls. Girls who play sports have better memory and concentration skills and do better in studies and later in life. Gone are the days when parents discouraged their girl child from partici
Published 26 Mar, 2011 12:00am
Benazir's assassination: all arrested, claims Malik

Benazir's assassination: all arrested, claims Malik

Federal Interior Minister Rehman Malik on Friday revealed that all the killers of former prime minister Benazir Bhutto have been arrested. The final investigation report pertaining to Benazir Bhutto assassination case would be presented before Central Exe
Published 26 Mar, 2011 12:00am
MoC lobbying for import of goods from India

MoC lobbying for import of goods from India

Commerce Ministry is lobbying for import of dozens of products from India which are not included in Import Policy Order, well-informed sources in Industries Ministry told Business Recorder. Presently only those items which are importable from India
Published 26 Mar, 2011 12:00am
New York cotton

New York cotton

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

Published 26 Mar, 2011 12:00am
MoC lobbying for import of goods from India

MoC lobbying for import of goods from India

Commerce Ministry is lobbying for import of dozens of products from India which are not included in Import Policy Order, well-informed sources in Industries Ministry told Business Recorder. Presently only those items which are importable from India
Published 26 Mar, 2011 12:00am
New York cotton

New York cotton

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

Published 26 Mar, 2011 12:00am
MoC lobbying for import of goods from India

MoC lobbying for import of goods from India

Commerce Ministry is lobbying for import of dozens of products from India which are not included in Import Policy Order, well-informed sources in Industries Ministry told Business Recorder. Presently only those items which are importable from India
Published 26 Mar, 2011 12:00am
India invites President, Prime Minister to watch match

India invites President, Prime Minister to watch match

Indian Prime Minister Dr Manmohan Singh on Thursday reminded of 'cricket diplomacy' by extending invitation to President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani to watch cricket world cup semi-final match between India and Pakistan at
Published 26 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 26 Mar, 2011 12:00am
India invites President, Prime Minister to watch match

India invites President, Prime Minister to watch match

Indian Prime Minister Dr Manmohan Singh on Thursday reminded of 'cricket diplomacy' by extending invitation to President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani to watch cricket world cup semi-final match between India and Pakistan at
Published 26 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 26 Mar, 2011 12:00am
Index loses 12.12 points

Index loses 12.12 points

The KSE-100 index on Friday lost 12.12 points and closed at the level of 11,552.13 points due to profit taking during the late hours. The market opened on a strong positive note and the index hit 11,636.89 points intra-day high level, up 72.64 points. "Ho
Published 26 Mar, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (March 25, 2011).

Published 26 Mar, 2011 12:00am
Index loses 12.12 points

Index loses 12.12 points

The KSE-100 index on Friday lost 12.12 points and closed at the level of 11,552.13 points due to profit taking during the late hours. The market opened on a strong positive note and the index hit 11,636.89 points intra-day high level, up 72.64 points. "Ho
Published 26 Mar, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

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

Published 26 Mar, 2011 12:00am
Index loses 12.12 points

Index loses 12.12 points

The KSE-100 index on Friday lost 12.12 points and closed at the level of 11,552.13 points due to profit taking during the late hours. The market opened on a strong positive note and the index hit 11,636.89 points intra-day high level, up 72.64 points. "Ho
Published 26 Mar, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (March 25, 2011).

Published 26 Mar, 2011 12:00am
BRIndex30 down by 3.81 points

BRIndex30 down by 3.81 points

On Friday, BRIndex30 opened at 8,627.09 and remained positive for most of the market time, recording fluctuations only in second half of the trading session. It touched an intraday high of 8,681.50 and an intraday low of 8,613.09 and closed at 8,623.28 wh
Published 26 Mar, 2011 12:00am
BRIndex30 down by 3.81 points

BRIndex30 down by 3.81 points

On Friday, BRIndex30 opened at 8,627.09 and remained positive for most of the market time, recording fluctuations only in second half of the trading session. It touched an intraday high of 8,681.50 and an intraday low of 8,613.09 and closed at 8,623.28 wh
Published 26 Mar, 2011 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities on Friday moved both ways on the Lahore Stock Exchange (LSE) and finally ended in positive zone amid descending transaction volume on account of lacking interest on the part of investors. The LSE-25 index marginally declined by 4.89 points and wa
Published 26 Mar, 2011 12:00am
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