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Archive - 2011-03-31
US airlines cut Tokyo service
Industry

US airlines cut Tokyo service

WASHINGTON: US carriers American and Delta said they were suspending flights to Japan in the aftermath of the devastatin
Published 31 Mar, 2011 09:08pm
European stocks close lower
Financial

European stocks close lower

LONDON: European stock markets closed lower on Thursday, tipping to the downside as concerns over a deepening eurozone d
Published 31 Mar, 2011 09:00pm
UK oil output fell 7.7pc in 2010
Europe

UK oil output fell 7.7pc in 2010

LONDON: Britain's oil production fell to 1.26 million barrels a day in 2010, down 7.7 percent from 2009, extending a dec
Published 31 Mar, 2011 04:07pm
Six killed in Balochistan blast
Top News

Six killed in Balochistan blast

QUETTA: Six people including a Baloch tribal elder were killed by a remote-controlled bomb in Quar town near the Iranian
Published 31 Mar, 2011 12:28pm
PM briefs President on Indian visit
Top News

PM briefs President on Indian visit

ISLAMABAD: Prime Minister Syed Yusaf Raza Gilani on Thursday called on President Asif Ali Zardari at Aiwan-e-Sadr and br
Published 31 Mar, 2011 12:09pm
LPG prices increased by Rs5 per kg
Top News

LPG prices increased by Rs5 per kg

ISLAMABAD: The marketing companies have increased the prices of LPG by Rs 5 per kilogram in view of increase its price
Published 31 Mar, 2011 12:02pm
NATO troops kill two Afghan civilians
Top News

NATO troops kill two Afghan civilians

KANDAHAR: NATO soldiers killed two Afghan civilians Thursday after opening fire on a car which the force said had tried
Published 31 Mar, 2011 10:48am
Thai military join flood rescue
Asia

Thai military join flood rescue

BANGKOK: Thai troops joined the search for victims of deadly mudslides that engulfed homes in the flood hit south, offic
Published 31 Mar, 2011 07:09am
Hong Kong shares up 0.53%
Financial

Hong Kong shares up 0.53%

HONG KONG: Hong Kong shares gained 0.53 percent in early trade Thursday, with the Hang Seng Index up 124.94 points to 2
Published 31 Mar, 2011 06:10am
Tokyo stocks flat by midday
Financial

Tokyo stocks flat by midday

TOKYO: Japanese stocks were flat by midday Thursday as a welcome set of jobs data from the United States and a weaker
Published 31 Mar, 2011 04:54am
G20 sets conditions for yuan to join SDR
Top News

G20 sets conditions for yuan to join SDR

NANJING: Finance ministers made modest progress on Thursday towards reform of a global monetary system that French Presi
Published 31 Mar, 2011 04:38am
US Embassy condemns Swabi blast

US Embassy condemns Swabi blast

The United States Embassy in Pakistan on Wednesday strongly condemned terrorist attack in Swabi District, which killed innocent people and wounded many others. "We offer our sincere condolences to the families and friends of the victims, "said a statement
Published 31 Mar, 2011 12:00am
Arbab condemns blast

Arbab condemns blast

Minister for Communications Dr Arbab Alamgir Khan condemned the blast occurred near Swabi Interchange on Islamabad-Peshawar Motorway on Wednesday and expressed sorrow over the loss of precious lives in the blast. The minister said, he was deeply grieved o
Published 31 Mar, 2011 12:00am
Second death anniversary of historian Dr Zaidi today

Second death anniversary of historian Dr Zaidi today

The second death anniversary of famous historian and editor-in- chief of Quaid-i-Azam Papers Wing, Dr Zawwar Hussain Zaidi will be observed on Thursday. According to a private news channel, late Zawwar Hussain Zaidi did a selfless service to revive the hi
Published 31 Mar, 2011 12:00am
Javed Jabbar asks India to address security concerns

Javed Jabbar asks India to address security concerns

Pakistan has begun a process of reforms in key social and economic fields that will help Islamabad utilise the country's potential for development of the region but the onus for ensuring sustainable South Asian peace and security lies on India, former Sen
Published 31 Mar, 2011 12:00am
Prime Minister condemns Swabi blast

Prime Minister condemns Swabi blast

Prime Minister Syed Yousuf Raza Gilani on Wednesday strongly condemned the Swabi blast in which several persons lost their lives. The Prime Minister termed it an inhuman act by the militants who have no regard for human lives or religion.
Published 31 Mar, 2011 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

Steadier trend was seen on the currency market on Wednesday as the rupee showed firmness versus dollar due to easy availability of the US currency, dealers said. The rupee held the overnight firmness against dollar, gaining four paisa for buying at 85.24
Published 31 Mar, 2011 12:00am
IPDF investment forum today

IPDF investment forum today

Infrastructure Project Development Facility (IPDF) will hold an investment forum in Islamabad on March 31, 2011 for national and international business community to present investment opportunities in the health and education sectors.
Published 31 Mar, 2011 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

Steadier trend was seen on the currency market on Wednesday as the rupee showed firmness versus dollar due to easy availability of the US currency, dealers said. The rupee held the overnight firmness against dollar, gaining four paisa for buying at 85.24
Published 31 Mar, 2011 12:00am
PPEPCA to hold meeting with Naveed

PPEPCA to hold meeting with Naveed

A delegation of the Pakistan Petroleum Exploration & Production Companies Association (PPEPCA) will hold a meeting with Syed Naveed Qamar Federal Minister for Privatisation, Water & Power to discuss the matters pertaining to the implementation of 18th Con
Published 31 Mar, 2011 12:00am
Bookies bet in favour of India

Bookies bet in favour of India

Local bookies across the country bet in India's favour all the day on Wednesday but after the fall of two quick Indian wickets some fluctuation in rates was evident. At the start of the match bookies were favouring India with 1:2 ratio, but in the second
Published 31 Mar, 2011 12:00am
CID busts gang of illegal arms dealer

CID busts gang of illegal arms dealer

Crime Investigation Department (CID) on Wednesday busted a gang of illegal arms dealers and seized huge cache of weapons and fake license books during raid. This was stated by CID SSP Mazhar Mashwani at a press conference at his office on Wednesday.
Published 31 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 30, 2011).

Published 31 Mar, 2011 12:00am
Capital police nab gang of dacoits

Capital police nab gang of dacoits

Islamabad police have busted a gang of dacoits and seized arms, ammunition and looted stuff. Shalimar Police received an information regarding the presence of the gang of dacoits at their hide-out in E-11 sector of the capital, the police team raided the
Published 31 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 30, 2011).

Published 31 Mar, 2011 12:00am
Two persons killed in different incidents

Two persons killed in different incidents

At least two persons including a chief security officer of the provincial minister for local government, Agha Siraj Durrani were killed in different incidents at various parts of the metropolis here on Wednesday. According to details, the victim Mohammad
Published 31 Mar, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (March 30, 2011).

Published 31 Mar, 2011 12:00am
Canadian HC pays tributes to martyrs of LEAs

Canadian HC pays tributes to martyrs of LEAs

Canadian High Commissioner to Pakistan Ross Hynes while paying glowing tributes to martyrs of law enforcement agencies said that these brave men sacrificed their lives to defeat terrorism, extremism. "It is their sacrifice and gallantry, which make the wh
Published 31 Mar, 2011 12:00am
Pak-India match: markets remain closed

Pak-India match: markets remain closed

Roads were deserted and majority of shops in different localities were closed in Karachi on Wednesday with the start of World Cup semi-final at Mohali India between India and Pakistan. People preferred to go home and watch the match on TV. There was thin
Published 31 Mar, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (March 30, 2011).

Published 31 Mar, 2011 12:00am
Capital presented a deserted look

Capital presented a deserted look

The federal capital presented a deserted look on Wednesday as people remained confined to their homes to watch cricket World Cup semi-final match between Pakistan and India. Prime Minister Yousuf Raza Gilani on Monday announced half working day for govern
Published 31 Mar, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (March 30, 2011).

Published 31 Mar, 2011 12:00am
Half-day off observed

Half-day off observed

The State Bank of Pakistan, banks and DFIs observed half day on Wednesday, March 30, 2011 to watch Pakistan India cricket semi final. According to the SBP circular, the government announced half-day public holiday from 12 noon on March 30, 2011 (Wednesday
Published 31 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 31 Mar, 2011 12:00am
Cricket hysteria grips Lahorites

Cricket hysteria grips Lahorites

Pak-India cricket semi-final hysteria has gripped the Lahore city like other parts of the country as large gatherings were seen at Qadhaffi stadium and various other points including stock exchange, clubs and private places where big screens were installe
Published 31 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 31 Mar, 2011 12:00am
Trade concessions from EU: India refuses to support Pakistan

Trade concessions from EU: India refuses to support Pakistan

India has refused to support Pakistan for trade concessions offered by the European Union as flood relief measures. According to the sources the Indian Commerce and Trade Ministry has taken a stance that such measures would only help Pakistan's textile in
Published 31 Mar, 2011 12:00am
Punjab government considering doctors' demands sympathetically

Punjab government considering doctors' demands sympathetically

The Punjab government has assured the Young Doctors' Association of considering the demands of doctors sympathetically and possible increase in their salaries in the next financial budget. Sardar Zulfiqar Ali Khan Khosa, Senior Advisor to the Chief Minist
Published 31 Mar, 2011 12:00am
World states urged to sign CCM without further delay

World states urged to sign CCM without further delay

Civil society organisations urged the world states to sign the Convention on Cluster Munitions (CCM) without further delay to minimise the civilians' casualties being occurred due to the lethal weapon. A media-briefing in this regard was arranged by the S
Published 31 Mar, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (March 30, 2011) and the forecast for Thursday (March 31, 2011).

Published 31 Mar, 2011 12:00am
23 quacks held in Quetta

23 quacks held in Quetta

Some 23 quacks have been arrested in an operation launched by the district administration Quetta. Some 23 persons were arrested from localities including Satellite Town, Pshtoonabad and Gawalmandi. The operation was launched on Wednesday on the directive
Published 31 Mar, 2011 12:00am
30,000 Umrah pilgrims awaiting seats

30,000 Umrah pilgrims awaiting seats

More than 30,000 Umra pilgrims are running from pillar to post to get reserved their seats in PIA flights but all in vain. Travel agents have complained that a mafia in PIA was active to accommodate their favourite travel agents and tour operators. This m
Published 31 Mar, 2011 12:00am
Interdepartmental floral competition at UVAS

Interdepartmental floral competition at UVAS

The Lahore College for Women University Chairman chemistry department Professor Dr Rukhshanda Nawaz inaugurated interdepartmental floral competition at University of Veterinary and Animal Sciences (UVAS) on Wednesday.
Published 31 Mar, 2011 12:00am
Punjab Assembly passes seven bills

Punjab Assembly passes seven bills

Punjab Assembly in its session passed seven bills and forwarded four to the committees to be returned by April 31, 2011. The bills passed were:
Published 31 Mar, 2011 12:00am
PARB organises workshop for teachers

PARB organises workshop for teachers

Punjab Agricultural Research Board (PARB) organised a one-day training workshop for teachers and researchers of the Islamia University of Bahawalpur to promote research culture at the university. A team of the board experts led by Dr Mubarik Ali, Chief Ex
Published 31 Mar, 2011 12:00am
Seminar on water, energy crises held

Seminar on water, energy crises held

President of Pakistan Engineers Forum Engr Syed Imtiaz Hussain, Engr Najib Haroon, Engr Tahir Sultan, Engr Mansoor Siddique and Engr Khawaja Aurangzeb were of the view construction of more water reservoirs was need of the hour to irrigate the barren land
Published 31 Mar, 2011 12:00am
Two children beaten to death

Two children beaten to death

Two children were beaten to death and latterly both dead bodies were burnt by their mental cousin in Abbaspur, here on Wednesday morning. According to Police, a youth, Usman was a mentally patient. He abducted Muhammad Sharif (3) and his sister Rabia (4)
Published 31 Mar, 2011 12:00am
JI condemns attack on JUI rally

JI condemns attack on JUI rally

The Jamaat e Islami chief, Syed Munawar Hasan and JI Secretary General, has condemned the blast in the JUI rally on Wednesday. In a joint statement here, they said that the federal as well as the provincial governments had completely failed in the protect
Published 31 Mar, 2011 12:00am
National Day of Bangladesh today

National Day of Bangladesh today

The 40th anniversary of National Day of Bangladesh will be celebrated on Thursday (today). Qazi Humayun Fareed, Bangladesh Honorary Consul General in Punjab will host a reception in this connection at a local club today where High Commissioner of Banglade
Published 31 Mar, 2011 12:00am
Lecture at Shaukat Khanum Research Centre on April 1

Lecture at Shaukat Khanum Research Centre on April 1

Shaukat Khanum Memorial Cancer Hospital and Research Centre is organising a monthly lecture on 'Common Errors in Outpatient Management of Diabetes Mellitus" for general medical practitioners on Friday, April 1st 2011.
Published 31 Mar, 2011 12:00am
SNGPL suspends gas supply to over 600 units

SNGPL suspends gas supply to over 600 units

Sui Northern Gas Pipelines Limited (SNGPL) has suspended the Gas Supply to more than 600 industrial units for 84 hours, here on Wednesday, under new gas-shedding schedule, which will continue till April 02 at 06:00 pm.
Published 31 Mar, 2011 12:00am
58 percent population comprises of youth up to 25 years of age: Khosa

58 percent population comprises of youth up to 25 years of age: Khosa

Senior Advisor to Chief Minister Punjab, Sardar Zulfiqar Ali Khan Khosa, has said that 58 percent population of Punjab is comprised of youth up to age of 25 years and this human resource is our precious asset. He said that by equipping the youth with mode
Published 31 Mar, 2011 12:00am
PBC returns application of woman beaten by lawyer

PBC returns application of woman beaten by lawyer

Punjab Bar Council (PBC) has returned an application of a woman against a lawyer, who beat her in the High Court premises a few days back, asking her to submit process fee. The complainant, Bushra Sayeda (60) said that she time and again approached the PB
Published 31 Mar, 2011 12:00am
Fertiliser prices increase by 10 to 20 percent in markets

Fertiliser prices increase by 10 to 20 percent in markets

Prices of all kind of fertilisers have increased by 10 to 20 percent in the markets of Southern Punjab following the imposition of General Sales Tax on agriculture inputs. The DAP prices have jumped by Rs 779 to Rs 4,059 per bag, while the rates of urea h
Published 31 Mar, 2011 12:00am
NTN be made mandatory: Chairman KATI

NTN be made mandatory: Chairman KATI

Chairman, Korangi Association of Trade and Industry (KATI), Johar Ali Qandhari has suggested that National Tax Number (NTN) should be made mandatory for purchase, sale and allotment of property for the purpose of broadening of tax net. He further proposed
Published 31 Mar, 2011 12:00am
CIMA, AICPA embark on international management accounting initiative

CIMA, AICPA embark on international management accounting initiative

The Chartered Institute of Management Accountants (CIMA), headquartered in London, and the American Institute of Certified Public Accountants (AICPA), headquartered in New York, are launching a joint venture that would give management accountancy a far hi
Published 31 Mar, 2011 12:00am
Old enmity claims two lives in Nasirabad

Old enmity claims two lives in Nasirabad

Unknown armed men gunned down two persons over old feud in Bakhtiarabad area of Nasirabad district on Wednesday. According to the Levies Force, the victims, identified as Abdul Rehman and Nazir Ahmad, were on their way to home when the gunmen opened indis
Published 31 Mar, 2011 12:00am
Senate extends warm welcome to Afghan parliamentary team

Senate extends warm welcome to Afghan parliamentary team

The Senate on Wednesday extended a warm welcome with a standing ovation to Afghan parliamentary delegation while expressing their yearning for peace and stability in the region. Farooq H Neak, Chairman Senate requested the members to give a standing ovati
Published 31 Mar, 2011 12:00am
NBP 62nd annual general meeting held

NBP 62nd annual general meeting held

National Bank of Pakistan (NBP) held its 62nd Annual General Meeting at a local hotel here on Wednesday March 30th, 2011. The meeting was well attended by the share holders and the senior executives from the Bank. The share holders approved dividend payou
Published 31 Mar, 2011 12:00am
Convocation of Defence Authority Montessori held

Convocation of Defence Authority Montessori held

A unique convocation ceremony of young beaming students of class Prep belonging to Defence Authority Montessori was held in the Auditorium of DHA College for Men here on Tuesday. The young graduates of the Montessori, who will now be joining class I in ot
Published 31 Mar, 2011 12:00am
ESUP holds Public Speaking Competition

ESUP holds Public Speaking Competition

The English Speaking Union of Pakistan (ESUP) held its National Public Speaking Competition at Karachi, in which two finalists of each of the public-speaking competitions held by its Karachi, Lahore and Islamabad Chapters, participated. The students were
Published 31 Mar, 2011 12:00am
Tree plantation drive begins at SU

Tree plantation drive begins at SU

The University of Sindh organised tree plantation campaign at the campus which would start from the Institute of English Language and Literature. Vice Chancellor University of Sindh, Professor Dr Nazir A. Mughal inaugurated the tree plantation move, which
Published 31 Mar, 2011 12:00am
Kazmi remanded to 14-day judicial custody

Kazmi remanded to 14-day judicial custody

Court has sent Hamid Saeed Kazmi, former religious affairs minister to jail on 14-day judicial remand in multi-million Hajj corruption scandal, after FIA exhausted his 14-day physical remand. Kazmi will be kept under detention in FIA Academy's room number
Published 31 Mar, 2011 12:00am
UBL UAE's Khalifa main branch inaugurated

UBL UAE's Khalifa main branch inaugurated

United Bank Limited's Khalifa Main Branch, Abu Dhabi, was inaugurated by Shaikh Nahayan Mabarak Al Nahayan, UAE Minister of Higher Education and Scientific Research and Chairman United Bank Limited on March 23, 2011. Atif R Bokhari, President and CEO of U
Published 31 Mar, 2011 12:00am
Mobilink rewards cricket enthusiasts

Mobilink rewards cricket enthusiasts

As the nation is gripped in cricket frenzy, Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding, rewards 30 cricket enthusiasts with a round trip to Sri Lanka. To tap into the pulse of the nation that is wired to
Published 31 Mar, 2011 12:00am
Textile units and amnesty

Textile units and amnesty

The Federal Board of Revenue (FBR) is expected to announce an amnesty scheme for textile units requiring registration subsequent to the amended zero-rating notification issued on the same day, March 15, as the three presidential ordinances seek to levy ad
Published 31 Mar, 2011 12:00am
Presidential reference for Zulfikar Ali Bhutto's trial review

Presidential reference for Zulfikar Ali Bhutto's trial review

The Federal Cabinet on Monday decided to ask president Zardari to file a reference with the Supreme Court of Pakistan on the death sentence termed by great many as the 'judicial' murder of Zulfikar Ali Bhutto in 1979. The review will be filed under Articl
Published 31 Mar, 2011 12:00am
Exploring a new gas resource - Shale Gas

Exploring a new gas resource - Shale Gas

In my previous article, I stressed upon exploring widely available gas resources in the country. I would like to draw the attention of the readers and policy-makers on yet another vast potential, called Shale Gas. There are two types of gas resources; con
Published 31 Mar, 2011 12:00am
Hedge fund risk management

Hedge fund risk management

This article gives you an idea about what are the relevant factors for Hedge Fund Risks fundamentals.
Published 31 Mar, 2011 12:00am
The need for easy monetary policy

The need for easy monetary policy

The major problems, the economy of Pakistan is facing in recent years, are the macroeconomic imbalances and sluggishness of the economy. On the one hand, the whole burden lies on the shoulders of vulnerable class in the form of high food and non-food pric
Published 31 Mar, 2011 12:00am
RAHMAN MALIK

RAHMAN MALIK

This refers to Interior Minister Rahman Malik's statement, made hours before the commencement of the highly charged semi-final match between arch rivals Pakistan and India, in the ongoing ICC Cricket World Cup tournament, wherein he warned the members of
Published 31 Mar, 2011 12:00am
Challenges and accomplishments

Challenges and accomplishments

It is difficult to pen down the performance of the present government during last 3 years as it was not a smooth sailing. The government has faced numerous unforeseen challenges since inception which has obviously changed its priorities. I will particular
Published 31 Mar, 2011 12:00am
Israeli Arabs, Bedouins protest discrimination

Israeli Arabs, Bedouins protest discrimination

Arab Israelis and Bedouins marked "Land Day" on Wednesday, saying the Jewish state still maintains a discriminatory policy of trying to force its minorities off their land. Rallies were held in Israel and the Palestinian territories in an annual commemora
Published 31 Mar, 2011 12:00am
Canadian hoping to join the Shebab arrested

Canadian hoping to join the Shebab arrested

Canada's federal police arrested a Toronto area man for seeking to join the Shebab, a Somalian group bent on "terrorist activities," the Royal Canadian Mounted Police said Wednesday. Mohamed Hersi, 25, was arrested at the Toronto airport on Tuesday.
Published 31 Mar, 2011 12:00am
Carter meets jailed American in Cuba, calls for release

Carter meets jailed American in Cuba, calls for release

Former US president Jimmy Carter met in Cuba Wednesday with a US contractor jailed on state security charges, calling for the communist-ruled island to release him because he is "innocent" of serious crimes. Carter told reporters on the final day of his C
Published 31 Mar, 2011 12:00am
Russia grows on oil, lacks business climate: World Bank

Russia grows on oil, lacks business climate: World Bank

Russia is recovering well from the financial crisis thanks to strong oil, but high commodity prices pose risks to inflation and fiscal stability, and a poor investment climate puts a drag on growth, the World Bank said.
Published 31 Mar, 2011 12:00am
Ghana pension fund to boost share trades

Ghana pension fund to boost share trades

Ghana's state-run pension fund SSNIT intends to gradually ramp up trading of its holdings in local shares when Tullow Oil and other firms float on the west African nation's bourse this year, an executive of the fund told Reuters. The Social Security and N
Published 31 Mar, 2011 12:00am
Qantas cuts staff, flights over fuel costs, disasters

Qantas cuts staff, flights over fuel costs, disasters

Australian flag carrier Qantas said Wednesday it will slash capacity and jobs as it grapples with disasters and surging fuel costs in its "most serious challenge" since the global downturn. The announcement comes with the airline already facing threats of
Published 31 Mar, 2011 12:00am
Travel, nuclear physics replace investment models

Travel, nuclear physics replace investment models

Put away the machines and bring back the humans. Wall Street is setting aside its algorithms and complex models and turning to experts for clues on how to make money in an uncertain world, turned upside down by Japan's disaster and Middle East uprisings.
Published 31 Mar, 2011 12:00am
Japan bank recovery in peril as quake to prolong ultra-low rates

Japan bank recovery in peril as quake to prolong ultra-low rates

The massive earthquake that struck Japan could make its banks hostage to another vicious cycle of low interest rates, hitting profit margins and derailing the sector's recovery from the global financial crisis. One immediate threat to bank earnings after
Published 31 Mar, 2011 12:00am
Eurozone 'Unfinished Symphony' is no masterpiece

Eurozone 'Unfinished Symphony' is no masterpiece

Unlike Schubert's Unfinished Symphony, Europe's incomplete "comprehensive response" to the eurozone debt crisis is unlikely to be rated a masterpiece. When European Union leaders complete a package deal this week to tighten fiscal discipline, improve econ
Published 31 Mar, 2011 12:00am
How much higher can China raise bank reserves?

How much higher can China raise bank reserves?

With little fanfare on Friday, China set a new record, forcing the country's big banks to lock up 20 percent of their deposits as reserves. That level - inconceivable in developed economies - is probably not the ceiling. But just how high can it go? Up to
Published 31 Mar, 2011 12:00am
Japan mulls Tokyo Electric nationalisation; shares at 47 year low

Japan mulls Tokyo Electric nationalisation; shares at 47 year low

Japan may nationalise Tokyo Electric Power as mounting costs and public anger threaten the future of the company at the centre of the country's deepening nuclear crisis. The outlook for Tokyo Electric, known as TEPCO, has been uncertain since the March 11
Published 31 Mar, 2011 12:00am
Europe looks to restrict public procurement access to China

Europe looks to restrict public procurement access to China

Europe is examining plans that would allow individual EU states to veto public procurement deals done by others with China, in a bid to ensure Beijing opens up its market more. France is leading a drive to introduce a European Union interdiction that coul
Published 31 Mar, 2011 12:00am
Finnish Prime Minister aims to rein in spending growth

Finnish Prime Minister aims to rein in spending growth

Finland's prime minister, fighting to win an election in April, said on Tuesday she wanted a line-by-line review of government spending while repeating a call for lower corporate taxes. With one eye aimed at shoring up public finances and the other at imp
Published 31 Mar, 2011 12:00am
Uganda takes control of Libya's stake in Uganda Telecom

Uganda takes control of Libya's stake in Uganda Telecom

Uganda's government said on Tuesday it had taken control of Libya's majority stake in Uganda Telecom, the latest move to freeze Libyan assets in the east African nation in compliance with UN sanctions. Information, Communication and Technology Minister Ag
Published 31 Mar, 2011 12:00am
Electrolux sticks to forecast, Egypt deal

Electrolux sticks to forecast, Egypt deal

World number two home appliances maker Electrolux is sticking to its market growth forecasts this year, with emerging countries remaining strong, the chief executive said on Tuesday. Keith McLoughlin also told Reuters in an interview that a stalled deal t
Published 31 Mar, 2011 12:00am
Morrisons sees grocery market growth staying low

Morrisons sees grocery market growth staying low

Consumer sentiment in Britain has deteriorated since Christmas and there is little prospect of an improvement until at least the end of the year, the finance director of Wm Morrison Supermarkets told Reuters. Richard Pennycook said in an interview on the
Published 31 Mar, 2011 12:00am
Nigerian Finance Minister struggles to impose fiscal discipline

Nigerian Finance Minister struggles to impose fiscal discipline

The 2011 budget passed by Nigeria's parliament this month keeps government spending near record highs and undermines efforts to restore fiscal discipline, Finance Minister Olusegun Aganga said on Tuesday. Parliament approved a 4.972 trillion naira ($32 bi
Published 31 Mar, 2011 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 72.70/72.77 (previous 72.71/72.75). Call Money Rates: 3.50-6.00 percent (previous 3.00-8.00 percent).
Published 31 Mar, 2011 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc ticked lower on Wednesday as hawkish central banker comments lifted euro and dollar while a Swiss policy maker struck a more cautious tone. The greenback got a boost from St. Louis Fed chief James Bullard, who urged the US central bank to
Published 31 Mar, 2011 12:00am
Sterling recovers versus euro

Sterling recovers versus euro

Sterling recovered from a five-month low versus the euro and rose against the dollar on Wednesday, helped by better UK data while worries over the eurozone's debt crisis weighed on the euro. Concerns about a fragile UK economy and expectations that UK int
Published 31 Mar, 2011 12:00am
Yen tumbles, Aussie at 29-year peak in Asia

Yen tumbles, Aussie at 29-year peak in Asia

The yen fell broadly on Wednesday, hitting 10-month lows against the euro and touching its lowest level in nearly three weeks versus the dollar as interest rate differentials widened in favour of US and European currencies. The dollar rose 0.6 percent on
Published 31 Mar, 2011 12:00am
Yen falls broadly in London

Yen falls broadly in London

The yen slipped to a 10-month low versus the euro and was broadly weaker on Wednesday after recent hawkish comments from eurozone and US officials contrasted with Japan's loose monetary policy stance. The euro rose to around 117.28 yen, its strongest sinc
Published 31 Mar, 2011 12:00am
Yen weakens broadly

Yen weakens broadly

The yen weakened across the board on Wednesday, sliding to a 10-month low against the euro, as recent hawkish comments from euro zone and US officials contrasted with Japan's loose monetary policy. The euro rose to around 117.28 yen on electronic trading
Published 31 Mar, 2011 12:00am
Dollar jumps versus yen since recent intervention

Dollar jumps versus yen since recent intervention

Rising US bond yields on Tuesday lifted the dollar above 82 yen for the first time since Japan's recent currency intervention, and technical indicators suggested the greenback may be poised to extend those gains. The euro also rose to its highest level ag
Published 31 Mar, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee rose marginally on Wednesday, but was stuck in a narrow band, as demand for the dollar from oil importers offset local share gains and dollar inflows. The partially convertible rupee closed at 44.745/755 per dollar, 0.1 percent stronger t
Published 31 Mar, 2011 12:00am
Won bolts to seven-week high

Won bolts to seven-week high

Hedge funds piled into the won on Wednesday, lifting it to a seven-week high against the dollar and suggesting the South Korean currency may lead other Asian currencies higher in the second quarter with foreign equity flows to the region expected to remai
Published 31 Mar, 2011 12:00am
Aussie scales 29-year peak versus dollar

Aussie scales 29-year peak versus dollar

The Australian dollar scaled a 29-year peak against the greenback on Wednesday, and raced to 10-month highs against a broadly weaker yen as risk sentiment stayed resilient with regional equities making solid gains. The yen has come under broad pressure af
Published 31 Mar, 2011 12:00am
Eonia to fall as liquidity stays ample

Eonia to fall as liquidity stays ample

Overnight eurozone interbank lending rates were set to fall over the next week or so after banks kept up their demand for central bank funding, keeping liquidity ample. The European Central Bank lent 129.5 billion euros of three-month funds against a matu
Published 31 Mar, 2011 12:00am
Yuan near record high

Yuan near record high

The yuan closed up against the dollar and approached its record trading high on Wednesday after the People's Bank of China fixed its daily mid-point near an all-time high. The PBOC has fixed a slew of record high mid-points since the start of this year, i
Published 31 Mar, 2011 12:00am
Tokyo Electric says $24 billion loans not enough; chief in hospital

Tokyo Electric says $24 billion loans not enough; chief in hospital

Tokyo Electric Power warned on Wednesday that a $24 billion bank loan was not enough to keep it afloat and pay for Japan's worst nuclear disaster, adding to expectations the government will step in to bail out the stricken company. Asia's largest utility,
Published 31 Mar, 2011 12:00am
Google, FTC reach Google Buzz privacy settlement

Google, FTC reach Google Buzz privacy settlement

The US Federal Trade Commission announced Wednesday that it has reached a settlement with Google over privacy concerns with Google Buzz, the social network the Internet giant launched last year. The FTC said that under the settlement, Google is required t
Published 31 Mar, 2011 12:00am
US CEO confidence hits record high

US CEO confidence hits record high

US chief executives' view of the economy brightened in the first quarter, with 92 percent expecting sales to rise over the next six months and more than half looking to add jobs, according to a survey. The Business Roundtable's quarterly CEO Economic Outl
Published 31 Mar, 2011 12:00am
US private sector adds jobs; planned layoffs fall

US private sector adds jobs; planned layoffs fall

US private employers added more than 200,000 jobs in March while planned layoffs fell, underscoring expectations that momentum in the labour market will help underpin the economic recovery. The ADP Employer Services report on Wednesday showed that US priv
Published 31 Mar, 2011 12:00am
IMF cuts Japan, US 2011 GDP forecast, ups eurozone

IMF cuts Japan, US 2011 GDP forecast, ups eurozone

The International Monetary Fund has cut its forecast for Japan's 2011 GDP growth after this month's devastating earthquake and has also lowered its near term outlook for the United States, Italian news agency ANSA reported on Wednesday.
Published 31 Mar, 2011 12:00am
Bullish forecasts for Dubai on back of Asia growth

Bullish forecasts for Dubai on back of Asia growth

The economy of Dubai, whose financial woes rattled world markets in late 2009, is tipped to grow over the next two years on the back of robust economic activity in Asia, economists said on Wednesday. "We're quite bullish" about economic growth in the Gulf
Published 31 Mar, 2011 12:00am
Japan industrial production up

Japan industrial production up

Japan's industrial production rose for a fourth straight month in February, data showed Wednesday, in another sign the economy was picking up before a devastating earthquake and tsunami. Factory output increased a seasonally adjusted 0.4 percent in Februa
Published 31 Mar, 2011 12:00am
Medvedev unveils new plan to improve investment climate

Medvedev unveils new plan to improve investment climate

Russian President Dmitry Medvedev on Wednesday slammed the country's investment climate and reeled off a list of measures in a bid to entice foreign capital into the country. At a meeting with state officials and tycoons in the metals city of Magnitogorsk
Published 31 Mar, 2011 12:00am
EU bailout plan raises short-term default risk: Fitch

EU bailout plan raises short-term default risk: Fitch

Plans for the eurozone's new bailout fund increase the risk in the short term that weaker economies will default, Fitch Ratings said on Wednesday after Standard & Poor's downgraded Greece and Portugal due to similar concerns. Fitch said last week's decisi
Published 31 Mar, 2011 12:00am
BP shares hit by manslaughter report, downgrade

BP shares hit by manslaughter report, downgrade

Shares in oil major BP fell on Tuesday on a report that its managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster. US prosecutors are considering whether to pursue manslaug
Published 31 Mar, 2011 12:00am
Fresh attempt launched to introduce anti-burqa law in Belgium

Fresh attempt launched to introduce anti-burqa law in Belgium

A committee in Belgium's lower chamber of parliament approved Wednesday a law outlawing burqas and other kinds of Islamic face veils - relaunching efforts to introduce the ban nearly one year after they were thwarted by a government crisis.
Published 31 Mar, 2011 12:00am
Microsoft co-founder slams Bill Gates in new book

Microsoft co-founder slams Bill Gates in new book

Bill Gates plotted to grab Microsoft shares from his cancer-stricken business partner Paul Allen, the software firm's co-founder has claimed in a new memoir. Painting a unfavourable view of Gates and his rise to the pinnacle of global business, Allen deta
Published 31 Mar, 2011 12:00am
Uganda says would consider Qadhafi asylum

Uganda says would consider Qadhafi asylum

Uganda would consider an asylum application from Libyan leader Muammar Qadhafi, as it would for anyone seeking refuge in the east African country, a minister said on Wednesday. Al Arabiya television reported that Uganda would welcome Qadhafi after Western
Published 31 Mar, 2011 12:00am
Thieves steal diamonds worth millions from Basel fair

Thieves steal diamonds worth millions from Basel fair

Thieves stole four diamonds worth several million dollars from a trader's stand at the world's biggest watch and jewellery fair in Basel on Wednesday, prosecutors said. "Three men engaged the staff in a sales talk while one or two others opened the showca
Published 31 Mar, 2011 12:00am
Arab revolts herald 'great leap forward': al Qaeda

Arab revolts herald 'great leap forward': al Qaeda

Al Qaeda's most influential English-language preacher said revolts sweeping the Arab world would help rather than harm its cause by giving Islamic freed from tyranny greater scope to speak out. Western and Arab officials say the example set by young Arabs
Published 31 Mar, 2011 12:00am
Campaigners seek cut in global civilian bombing toll

Campaigners seek cut in global civilian bombing toll

About 10,000 civilians have been killed or wounded by bombings in populated areas over the past six months, campaigners said on Wednesday as they launched a global drive to cut the civilian toll in conflicts.
Published 31 Mar, 2011 12:00am
Bollywood actor jailed for rape

Bollywood actor jailed for rape

An Indian court on Wednesday jailed a Bollywood actor for seven years for raping his maid, local media said, in a case which has sent shockwaves through the film industry. Shiney Ahuja was convicted of rape, criminal intimidation and wrongful confinement
Published 31 Mar, 2011 12:00am
Thai floods kill 15 dead, thousands stranded

Thai floods kill 15 dead, thousands stranded

Thailand mobilised its only aircraft carrier as efforts to rescue thousands trapped on storm-swept holiday islands intensified on Wednesday after severe flooding across the south killed 15. Victims were either swept away by the rising waters, or buried in
Published 31 Mar, 2011 12:00am
Tendulkar targets final glory in Mumbai home

Tendulkar targets final glory in Mumbai home

India's Sachin Tendulkar led a charmed life to hit a crucial 85 in Wednesday's semi-final win against Pakistan before targetting his first World Cup title in front of his home fans in Mumbai. Tendulkar was dropped four times in his man of the match inning
Published 31 Mar, 2011 12:00am
World Cup 1014 draw throws up possible Southeast Asian derby

World Cup 1014 draw throws up possible Southeast Asian derby

The AFC headquarters were filled with groans after Malaysia were handed a possible showdown against arch-rivals Singapore in the second round of 2014 World Cup Asian qualifying when the draw was made on Wednesday. Malaysia, winners of the Southeast Asian
Published 31 Mar, 2011 12:00am
Zvonareva books Miami semi-final place

Zvonareva books Miami semi-final place

Russian Vera Zvonareva, ranked number three in the world, advanced to the semi-finals of the WTA premier hardcourt tournament here on Wednesday with a straight sets win over Agnieszka Radwanska. Zvonareva, seeded third, defeated the ninth-seeded Pole 7-5,
Published 31 Mar, 2011 12:00am
Sri Lanka reap benefits from two years' preparation

Sri Lanka reap benefits from two years' preparation

Sri Lanka stand one match away from reaping the benefits of their decision to devote more than two years to prepare for the World Cup. After the disappointment of losing to Australia in the rain-affected 2007 final, the 1996 champions made sure they would
Published 31 Mar, 2011 12:00am
Deflated Pakistan fans blame Misbah for India loss

Deflated Pakistan fans blame Misbah for India loss

Disappointed Pakistani cricket fans on Wednesday blamed a sluggish Misbah-ul-Haq for defeat in the World Cup semi-final thriller with arch-rival India. India defeated Pakistan by 29 runs in a match dubbed the "clash of the titans" to set up a World Cup fi
Published 31 Mar, 2011 12:00am
Spanish judge bars league strike

Spanish judge bars league strike

A Spanish judge on Wednesday barred the country's football league (LFP) from staging a strike this weekend to protest broadcast rights. The judge backed a suit filed by six first division clubs who had opposed the planned walkout.
Published 31 Mar, 2011 12:00am
Ponting shadow as Clarke named Aussie captain

Ponting shadow as Clarke named Aussie captain

The divisive Michael Clarke began his reign as Australia's new Test and one-day captain on Wednesday by denying that former skipper Ricky Ponting's presence in the side will cause problems. Long seen as heir-apparent, the stylish batsman, who turns 30 on
Published 31 Mar, 2011 12:00am
Netherlands, Spain win after rare Euro drama

Netherlands, Spain win after rare Euro drama

The Netherlands and Spain brought a hint of drama to Euro 2012 qualifying on Tuesday, surviving fightbacks by Hungary and Lithuania to maintain their 100 percent records in the competition. Dirk Kuyt scored two goals in three minutes late in the game as t
Published 31 Mar, 2011 12:00am
BP shares hit by manslaughter report, downgrade

BP shares hit by manslaughter report, downgrade

Shares in oil major BP fell on Tuesday on a report that its managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster. US prosecutors are considering whether to pursue manslaug
Published 31 Mar, 2011 12:00am
Southeast Asian markets: earnings optimism lifts stocks

Southeast Asian markets: earnings optimism lifts stocks

Southeast Asian stock markets rose in active sessions on Wednesday as investors picked up shares in companies expected to report good quarterly results, with banks leading the way on strong loan growth. Indonesia and Thailand climbed to the highest in nea
Published 31 Mar, 2011 12:00am
Obama calls for deep cuts in US oil imports

Obama calls for deep cuts in US oil imports

President Barack Obama set an ambitious goal on Wednesday to cut US oil imports by a third over 10 years, taking up a challenge that eluded previous US leaders, as high gasoline prices threaten to undermine the country's economic recovery. Obama outlined
Published 31 Mar, 2011 12:00am
Middle East markets: Egypt, Saudi indices up

Middle East markets: Egypt, Saudi indices up

Kuwaiti logistics firm Agility fell on Wednesday after an adverse US court ruling, while markets in Egypt and Saudi Arabia climbed, bucking a regional trend. Kuwait's index slipped 0.5 percent, snapping a three-day rally, as Agility dropped 5 percent afte
Published 31 Mar, 2011 12:00am
Australia shares jump

Australia shares jump

Australian stocks jumped 1.4 percent to close at a 3-1/2 week high, with the miners leading solid gains across the board at the same time as the Aussie dollar hit a 29-year peak, but light volumes suggested there was little conviction behind the buying.
Published 31 Mar, 2011 12:00am
Hong Kong shares up, China down

Hong Kong shares up, China down

Financial counters led a broad rebound in Hong Kong shares on Wednesday, as risk appetite improved with traders settling their positions for the end of the first quarter. Hutchison Whampoa Ltd , billionaire Li Ka-shing's flagship ports-to-telecoms company
Published 31 Mar, 2011 12:00am
Wednesday's early afternoon trade: Wall Street gains

Wednesday's early afternoon trade: Wall Street gains

US stocks rose on Wednesday as investors positioned themselves for the quarter's end and the S&P 500 attempted to hold above a key technical level. Stocks advanced as money managers re-allocated positions for the end of the quarter, with the S&P 500 up 5.
Published 31 Mar, 2011 12:00am
Energy lifts Wall Street but caution keeps volume low

Energy lifts Wall Street but caution keeps volume low

Strength in energy lifted US stocks on Tuesday as investors concentrated on adding to winning positions as the quarter winds down, but uncertainty kept trading volume light. About 6.2 billion shares traded in composite volume on the New York Stock Exchang
Published 31 Mar, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks closed 0.58 percent higher on Wednesday, lifted by banking shares on an expected rate hike by the central bank at its meeting due the following day. Laptop PC maker Acer Inc fell 3.8 percent, taking its decline to 16.5 percent in three sessi
Published 31 Mar, 2011 12:00am
Short-term treasuries rise

Short-term treasuries rise

Hawkish Federal Reserve officials have hurt Treasury yields in recent days, however short-term rates may reflect over optimistic assumptions of a rate increase given signs US economic growth is slowing. Data including consumer confidence and trade balance
Published 31 Mar, 2011 12:00am
Short-term treasuries rise

Short-term treasuries rise

Hawkish Federal Reserve officials have hurt Treasury yields in recent days, however short-term rates may reflect over optimistic assumptions of a rate increase given signs US economic growth is slowing. Data including consumer confidence and trade balance
Published 31 Mar, 2011 12:00am
Rooftops to revive Spain's flagging solar industry

Rooftops to revive Spain's flagging solar industry

Solar panels on the rooftops of Spain are likely to pay for themselves within five years without needing subsidies and revive an industry in the doldrums after the country became the world's second-largest producer. Analysts predict the cost of small roof
Published 31 Mar, 2011 12:00am
Industrials power FTSE to best streak in seven months

Industrials power FTSE to best streak in seven months

The FTSE 100 closed higher for a sixth consecutive session on Wednesday, its best run since August 2010, as investors ditched retailers over earnings worries in favour of growth sectors such as industrials and mining. Dixons issued a profit warning and gl
Published 31 Mar, 2011 12:00am
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