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Archive - 2011-04-02
Syria arrests dozens in crackdown
Top News

Syria arrests dozens in crackdown

DAMASCUS: Syrian security forces arrested 46 people on Saturday, rights groups said a day after nine people were killed
Published 02 Apr, 2011 09:23pm
India bans Iran nuclear-related trade
Top News

India bans Iran nuclear-related trade

NEW DELHI: India has banned trade in all goods and services with Iran that could help Tehran pursue development of nucle
Published 02 Apr, 2011 12:17pm
Transporters mulling over strike option
Top News

Transporters mulling over strike option

KARACHI: President Karachi Transport Ittehad (KTI) Syed Irshad Hussain Bukhari on Saturday warned the government that pu
Published 02 Apr, 2011 11:59am
Vietnam rockslide kills 18
Asia

Vietnam rockslide kills 18

HANOI: Rescuers in Vietnam were working Saturday to recover the bodies of two brothers buried under huge boulders as a l
Published 02 Apr, 2011 06:27am
Thai flood toll climbs to 35
Top News

Thai flood toll climbs to 35

BANGKOK: Flooding across southern Thailand has killed at least 35 people, officials said Saturday, as unseasonably wet w
Published 02 Apr, 2011 06:21am
Meat One inaugurates new store in Bahadurabad

Meat One inaugurates new store in Bahadurabad

Meat One, a chain of speciality meat stores retailing fresh, export quality meat has inaugurated its fifth Meat Store situated in Bahadurabad area on Friday. Cricket Stars Muhammad Yousuf, Moin Khan, Saeed Anwar, renowned Business and social personality J
Published 02 Apr, 2011 12:00am
Tajik Ambassador meets CJCSC

Tajik Ambassador meets CJCSC

Dr Zubay-dullo Zubaydov, Ambassador of Tajikistan called on General Khalid Shameem Wynne, Chairman Joint Chief of Staff Committee (CJCSC) here at Joint Staff Headquarters on Friday. Dr Zubaydullo Zubaydov, remained with CJCSC for some time and discussed m
Published 02 Apr, 2011 12:00am
US MIDDAY: gold plunges

US MIDDAY: gold plunges

Gold fell 0.5 percent on Friday as an encouraging US jobs report boosted the dollar, but euro zone debt worries and political unrest in the Middle East lifted bullion off its lows. Positive nonfarm payrolls and manufacturing activity data confirmed the US
Published 02 Apr, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper ended lower on Friday, building upon the 2.4-percent loss recorded in the first quarter, as a lull in Chinese buying and a rising trend in inventories continued to reflect near-term demand weakness. Copper's losses at the start of the new quarter b
Published 02 Apr, 2011 12:00am
US MIDDAY: corn soars; wheat and soya fall

US MIDDAY: corn soars; wheat and soya fall

US corn prices surged 6.5 percent on Friday to their highest levels since the food crisis of 2008, setting the stage for record global food prices - which have sparked social unrest - to push even higher. Futures, which rose 4.5 percent on Thursday, were
Published 02 Apr, 2011 12:00am
US MIDDAY: cocoa and sugar up

US MIDDAY: cocoa and sugar up

US cocoa futures closed higher Friday as it rebounded from a 2-1/2 month, with players saying bean futures were due for a bounce after its steep losses in the last few sessions as the political crisis in top grower Ivory Coast neared resolution.Raw sugar
Published 02 Apr, 2011 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Friday after data showed the US economy added more jobs than expected in March, lifting the dollar and supporting expectations US authorities may move towards a tighter monetary policy. Spot gold slipped 1.7 percent to a session low at $1,412
Published 02 Apr, 2011 12:00am
Gold slips in Asia

Gold slips in Asia

Gold dropped on Friday before the release of US non-farm payrolls report which could underpin the dollar and weigh on bullion, while ETF holdings posted their biggest quarterly decline ever. Spot gold fell $2.88 an ounce to $1,433.60 an ounce by 0618 GMT,
Published 02 Apr, 2011 12:00am
US gold rises

US gold rises

US gold futures ended 1.1 percent higher on Thursday, as the dollar fell and as rallies in oil and grain prices boosted gold's inflation hedge appeal. COMEX June gold futures settled up $15 or 1.1 percent at $1,439.90 an ounce. Ranged from $1,421.70 to $1
Published 02 Apr, 2011 12:00am
Oil prices jump

Oil prices jump

Oil prices jumped on Friday, as supportive US jobs data reinforced economic growth expectations and Libya's conflict and Middle East unrest kept supply threats in focus, pushing both Brent and US crude to their highest settlements since 2008. US nonfarm p
Published 02 Apr, 2011 12:00am
Liffe cocoa rises

Liffe cocoa rises

Cocoa prices climbed on Friday as oversold bean futures staged a rebound while fighting spread between forces loyal to presidential claimant Alassane Ouattara and incumbent Laurent Gbagbo in top producer Ivory Coast. Bitter fighting spread across the Ivor
Published 02 Apr, 2011 12:00am
US soya higher

US soya higher

Chicago Board of Trade soyabean futures unofficially closed higher on Thursday, bolstered by stocks and plantings data released earlier in the day by the US Department of Agriculture. For the first quarter, CBOT spot soyabeans finished up 0.9 percent. Bot
Published 02 Apr, 2011 12:00am
New York cocoa sinks

New York cocoa sinks

Cocoa prices fell to a 2-1/2 month low on Thursday as forces loyal to Alassane Ouattara in Ivory Coast advanced indicating exports possibly resuming from the world's top grower. Arabica coffee futures were slightly lower but still underpinned by tight sup
Published 02 Apr, 2011 12:00am
Malaysian palm oil soars

Malaysian palm oil soars

Malaysian palm oil futures rose to a one-week high on Friday after a key plantings report in the United States showed soybean stocks were tight. US farmers say they will plant this spring some of the biggest corn and soybean crops ever, racing to keep pac
Published 02 Apr, 2011 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Tokyo rubber futures fell on Friday on technical selling as players liquidated contract to avoid risks ahead of the weekend after prices failed to break above a key resistance of 440.0 yen, dealers said. The benchmark September-delivery contract on the To
Published 02 Apr, 2011 12:00am
Copper hits two-week low

Copper hits two-week low

Copper hit a two-week low on Friday, slipping further after a first-quarter 2.4-percent loss as a lull in Chinese demand worried investors and dollar strength eclipsed optimism from US jobs data. Three-month copper on the London Metal Exchange was untrade
Published 02 Apr, 2011 12:00am
Shanghai copper eases

Shanghai copper eases

In Shanghai, the most-active copper futures contract eased 260 yuan to close at 70,440 yuan a tonne on Friday, for a weekly loss of 2.6 percent. High levels of stocks in China have kept Chinese copper prices in check, making unprofitable imports of spot c
Published 02 Apr, 2011 12:00am
US copper down

US copper down

Copper futures traded in New York ended the first quarter of 2011 on Thursday with a 3 percent decline from the prior quarter, the first quarterly loss since the second quarter of 2010. The benchmark May COMEX copper contract settled at $4.3075 per lb, do
Published 02 Apr, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

US cotton futures closed lower Friday on investor profit-taking as players opted to take cash home after fibre contracts surged in the previous session due to a bullish government plantings report, analysts said. The key May cotton contract on ICE Futures
Published 02 Apr, 2011 12:00am
Home department setting up cell to curb extortion

Home department setting up cell to curb extortion

A special cell, to be headed by Senior Superintendent Police rank officer is being set up by the home department to look into the complaints of extortion. According to a spokesperson of the department, the decision was taken by Home Minister, Dr Zulfiqar
Published 02 Apr, 2011 12:00am
DI&I arrests two more accused in mega tax fraud case

DI&I arrests two more accused in mega tax fraud case

In pursuance of the FIR No 04/2011 dated 26.03.2011, registered by the Directorate of Intelligence & Investigation-FBR, Lahore, in a mega tax fraud of more than Rs 7.5 billion, the Directorate has arrested two more accused, Muhammad Azam Qadri and Ikhlaq
Published 02 Apr, 2011 12:00am
Multan young doctors' strike enters 32nd day

Multan young doctors' strike enters 32nd day

Young Doctors Association (YDA) of Nishtar Hospital Multan observed complete strike for acceptance of their demands, here on Friday. The doctors blocked road in front of the hospital, burned tyres and chanted slogans against the authorities for employing
Published 02 Apr, 2011 12:00am
'Young generation should be apprised of creation of Pakistan'

'Young generation should be apprised of creation of Pakistan'

Prominent artist, social worker and peace activist Jimmy Engineer has stressed the need for apprising younger generation of creation of Pakistan. Talking to journalists and students of the Aitchison College prior to his return to Karachi after more than a
Published 02 Apr, 2011 12:00am
PML-N MPA's case: LHC seeks Punjab Assembly speaker's response

PML-N MPA's case: LHC seeks Punjab Assembly speaker's response

The Lahore High Court here Friday directed counsel for Punjab Assembly speaker to seek instructions from him and appear before the court on April 23 in a petition of former PML-N MPA Shumaila Rana seeking restoration of her assembly seat.
Published 02 Apr, 2011 12:00am
Qadhafi forces storm western rebel outpost

Qadhafi forces storm western rebel outpost

Muammar Qadhafi's forces stormed the western rebel outpost of Misrata with tanks and artillery on Friday, a Libyan rebel spokesman said, while insurgents marshalled defences in their eastern heartland. A rebel leader speaking after talks with a UN envoy i
Published 02 Apr, 2011 12:00am
Libya rebels pen oil deal with Qatar

Libya rebels pen oil deal with Qatar

Libyan rebels have penned a deal with Qatar to market their crude oil abroad in exchange for food, medicine and - it hopes - weapons, a top official in the transitional government said on Friday. "The Qatar government agreed, the agreement is signed, that
Published 02 Apr, 2011 12:00am
Egyptians protest to 'protect revolution'

Egyptians protest to 'protect revolution'

Thousands of Egyptians rallied in Cairo and Alexandria on Friday demanding that ousted President Hosni Mubarak and other former officials be put on trial. Mubarak was removed from power on February 11, but the reformers who drove the protests that brought
Published 02 Apr, 2011 12:00am
12 killed in anti-government rallies in Syria

12 killed in anti-government rallies in Syria

At least 12 people were killed in two Syrian cities Friday, activists said, when demonstrators took to the streets in anti-government protests in response to calls for nation-wide rallies. Independent verification of the toll is difficult, as foreign jour
Published 02 Apr, 2011 12:00am
Obama names retired envoy as new Sudan envoy

Obama names retired envoy as new Sudan envoy

President Barack Obama chose on Thursday a retired ambassador to two African countries to be his new special envoy to Sudan, at a time of continued instability in Darfur and as the African nation's southern regions prepare to become an independent country
Published 02 Apr, 2011 12:00am
Saudi Shias protest in east

Saudi Shias protest in east

Hundreds of Saudi Shias staged peaceful protests in the kingdom's oil-producing east on Friday in support of Shias in Bahrain and political freedoms at home, activists said. Demonstrators gathered in Awamiya, a village near the main Shia centre of Qatif,
Published 02 Apr, 2011 12:00am
US fighter jet crashes in Germany

US fighter jet crashes in Germany

A US military plane crashed in western Germany on Friday though the pilot was able to eject, police in the city of Trier said. The A10 fighter jet was completely destroyed on impact in a field just hundreds of metres from houses in the village of Laufeld,
Published 02 Apr, 2011 12:00am
Malaysian cleric bans 'Christian' line dance

Malaysian cleric bans 'Christian' line dance

A top Islamic official in a Malaysian state has outlawed a popular line dance, claiming Friday that it contained cult practices and elements of "Christian rituals" unacceptable to Muslims. Harussani Zakaria, mufti of the northern state of Perak, told AFP
Published 02 Apr, 2011 12:00am
Oman breaks up new protests over wages, jobs

Oman breaks up new protests over wages, jobs

Hundreds of Omani protesters seeking jobs and better wages clashed with security forces in the industrial town of Sohar on Friday, hurling rocks as the military fired in the air to try to disperse them. The clashes, which witnesses said police brought to
Published 02 Apr, 2011 12:00am
Floods displace thousands in Malaysia

Floods displace thousands in Malaysia

Floodwaters have forced more than 4,000 people to leave their homes in Malaysia's northern state of Perlis, officials said Friday. A total of 4,230 people were sheltering at 32 makeshift centres across the state, a spokesman for flood relief operations sa
Published 02 Apr, 2011 12:00am
Japanese Prime Minister to visit disaster zone, nuclear crisis drags on

Japanese Prime Minister to visit disaster zone, nuclear crisis drags on

Japan's prime minister was headed to the nuclear disaster zone on Saturday where workers are braving radiation from the crippled Fukushima Daiichi plant to battle the world's worst atomic crisis since Chernobyl. Naoto Kan was due to visit a sports camp tu
Published 02 Apr, 2011 12:00am
Putin rides first Russian hybrid car to see Medvedev

Putin rides first Russian hybrid car to see Medvedev

Avid car lover and Russian Prime Minister Vladimir Putin drove Russia's first gasoline-electric hybrid car on Friday to visit political partner President Dmitry Medvedev. Called Yo-mobile, the car is a personal project of billionaire Mikhail Prokhorov, wh
Published 02 Apr, 2011 12:00am
100,000 Chinese to migrate to Hong Kong under new policy

100,000 Chinese to migrate to Hong Kong under new policy

Up to 100,000 Chinese young people were expected to be allowed to migrate to Hong Kong in the next five years under relaxed immigration rules, a news report said Friday. A new policy came into effect Friday allowing people born in mainland China but with
Published 02 Apr, 2011 12:00am
Fierce fighting spreads in Ivory Coast showdown

Fierce fighting spreads in Ivory Coast showdown

Fierce fighting spread across Abidjan on Friday as troops loyal to Ivory Coast's Laurent Gbagbo fended off attacks by forces supporting Alassane Ouattara's rival claim to the presidency. The heaviest clashes centred around the state television station, wh
Published 02 Apr, 2011 12:00am
Germany, China to develop relations, hold joint cabinet meeting

Germany, China to develop relations, hold joint cabinet meeting

Germany and China said Friday that they plan to develop their relationship, including holding a joint meeting of their cabinets later this year, despite differences of opinion on human rights and other issues. Visiting German Foreign Minister Guido Wester
Published 02 Apr, 2011 12:00am
World court drops Georgia case versus Russia

World court drops Georgia case versus Russia

The UN's highest court ruled on Friday it had no jurisdiction to hear Georgia's complaints of alleged human rights abuses by Russia on Georgian territory because the two sides had not held negotiations. Georgia accused Russia of "serious violations" of a
Published 02 Apr, 2011 12:00am
All set for six-week competition climax

All set for six-week competition climax

Watching cricket is the only business that will be going on in India's financial capital on Saturday when Mumbai's favourite son Sachin Tendulkar could raise his stock even further with victory in the World Cup final. The Asian rivals India and Sri Lanka
Published 02 Apr, 2011 12:00am
Mathews and Nehra out of World Cup final

Mathews and Nehra out of World Cup final

Sri Lankan all-rounder Angelo Mathews and Indian seamer Ashish Nehra were both ruled out of the World Cup final on Friday, sparking two selection headaches on the eve of the title showdown. The International Cricket Council said Mathews has been replaced
Published 02 Apr, 2011 12:00am
India peaking at right time, says Dhoni

India peaking at right time, says Dhoni

Indian captain Mahendra Singh Dhoni warned rivals Sri Lanka to expect a tough contest in Saturday's World Cup final, saying his team had yet to play its best cricket. "There is plenty more to come from us," Dhoni said ahead of the all-Asian clash at the W
Published 02 Apr, 2011 12:00am
Nowhere to match subcontinent 'buzz' insists Sangakkara

Nowhere to match subcontinent 'buzz' insists Sangakkara

Sri Lanka captain Kumar Sangakkara said nowhere else compared to the subcontinent when it came to playing cricket, as he looked forward to a World Cup final against India. "It's been a great tournament," Sangakkara said of a World Cup co-hosted by India,
Published 02 Apr, 2011 12:00am
Muralitharan heads insatiable ticket demand for final

Muralitharan heads insatiable ticket demand for final

Retiring Sri Lankan spinner Muttiah Muralitharan's search for a couple of passes for Saturday's World Cup final symbolised the region's insatiable thirst for the game and the popularity of its biggest spectacle. Muralitharan wants his Indian in-laws to be
Published 02 Apr, 2011 12:00am
Federer and Nadal to meet in semi-finals

Federer and Nadal to meet in semi-finals

Rafa Nadal and Roger Federer will meet in the semi-finals of the Sony Ericsson Open after the old rivals advanced to the last four in contrasting fashions Thursday. The pair have not met on US soil since Federer's win at Miami over the Spaniard five years
Published 02 Apr, 2011 12:00am
Sharapova reaches final

Sharapova reaches final

Maria Sharapova reached her first final in more than seven months and looked back to her best with a 3-6 6-0 6-2 victory over Germany's giant-killing Andrea Petkovic at the Sony Ericsson Open on Thursday. The former world number one will face Victoria Aza
Published 02 Apr, 2011 12:00am
Pakistan players welcomed home

Pakistan players welcomed home

Pakistan captain Shahid Afridi was looking forward to resting his aching limbs after returning home from the World Cup to a heroes' welcome on Friday. Afridi, Younus Khan and Asad Shafiq touched down in Karachi, while the rest of the players and officials
Published 02 Apr, 2011 12:00am
Afridi blasts Shoaib for abrupt announcement

Afridi blasts Shoaib for abrupt announcement

Pakistan captain Shahid Afridi criticised speedster Shaoib Akhtar for abruptly announcing his retirement from the sport midway through the World Cup. The 35-year-old Shoaib, who has had a rocky international career due to run-ins with authorities and disc
Published 02 Apr, 2011 12:00am
Bosnia suspended from international competition

Bosnia suspended from international competition

FIFA and UEFA suspended Bosnia from international competition on Friday, putting their place in Euro 2012 qualifying under threat, after the country's football federation missed a deadline to reform its presidential system. Soccer's world and European gov
Published 02 Apr, 2011 12:00am
Turkey passes law against match-fixing, hooliganism

Turkey passes law against match-fixing, hooliganism

Turkey's parliament passed overnight a law introducing tough penalties for match-fixing and hooliganism in sports, aimed mainly at football clubs and their fans, Anatolia news agency reported. The law, which needs a presidential approval to take effect, i
Published 02 Apr, 2011 12:00am
Record demand for Euro 2012 tickets: UEFA

Record demand for Euro 2012 tickets: UEFA

Demand for tickets at Euro 2012 has hit a record of more than 12 million, UEFA said Friday, after an application deadline to see the championships in Poland and Ukraine closed. In a statement, European football's governing body said that a total of 12,149
Published 02 Apr, 2011 12:00am
Euro rates at new 21-month high

Euro rates at new 21-month high

Euro interbank lending rates hit fresh 21-month highs on Friday, boosted by a firm belief the European Central Bank will raise interest rates next week, but expectations of further hikes by year-end may be overdone. The Eonia overnight rate spiked to 0.9
Published 02 Apr, 2011 12:00am
Won and Singapore dollar rise

Won and Singapore dollar rise

The South Korean won and the Singapore dollar hit 9-month highs against the yen on Friday, benefiting from investors' hunger for higher yields from emerging Asian currencies, which have also been lifted by inflows into regional equities. The won hit a 2-1
Published 02 Apr, 2011 12:00am
Australian and kiwi dollars jump

Australian and kiwi dollars jump

The Australian dollar held within striking distance of a fresh 29-year peak on the US currency on Friday and scaled an 11-month high on the yen as investors continued to pile into carry trades. The Aussie continues to defy expectations of a correction, af
Published 02 Apr, 2011 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc slipped against the euro and the dollar on Friday as investors positioned themselves ahead of key US jobs data due that are expected to show the world's largest economy is on the mend. The franc was 0.2 percent lower against the dollar, tr
Published 02 Apr, 2011 12:00am
Euro advances in first quarter

Euro advances in first quarter

The euro firmed against the US dollar in the first quarter, buoyed by expectations of eurozone rate hikes, but gains could stall in the next few weeks due to nagging peripheral debt concerns. Technical indicators suggested the euro was in the midst of a c
Published 02 Apr, 2011 12:00am
Early trade in New York: dollar slips versus euro

Early trade in New York: dollar slips versus euro

The US dollar slipped against the euro on Friday, with more losses likely over the near-term given expectations that the European Central Bank will soon tighten monetary policy, while the Federal Reserve remains on hold.
Published 02 Apr, 2011 12:00am
Yen struggles in London

Yen struggles in London

The yen fell on Friday to a 10-month low against the euro and below its 200-day moving average versus the dollar, with the greenback likely to push higher if a key US jobs report beats expectations. Speculation grew for a strong reading of non-farm payrol
Published 02 Apr, 2011 12:00am
Yen withers in Asia

Yen withers in Asia

The yen slid to a 10-month low against the euro and fell below its 200-day moving average versus the dollar on Friday, poised for more weakness as widening yield differences increased the appeal of using the yen to fund investments in other currencies.
Published 02 Apr, 2011 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against a broadly stronger dollar on Friday after better-than-expected US non-farm payrolls data strengthened the chances that monetary policy in the US would need to be tightened soon. Further pressure on the pound came from an earlier surv
Published 02 Apr, 2011 12:00am
Yuan rises

Yuan rises

The yuan closed up against the dollar on Friday, hitting a record high in intraday trading, after the People's Bank of China fixed its daily mid-point at an all-time high for the second day in the latest sign that the government may be using the currency
Published 02 Apr, 2011 12:00am
FTSE hits six-week high

FTSE hits six-week high

Strong banks and commodity stocks hauled Britain's top share index back above the 6,000 level to a nearly six-week closing high on Friday as solid US jobs data indicated the economic recovery was gathering pace. BP led integrated oil stocks higher, adding
Published 02 Apr, 2011 12:00am
Taiwan stocks end higher

Taiwan stocks end higher

Taiwan stocks closed up 0.25 percent on Friday, with Acer tumbling 4.83 percent after the surprise replacement of its chief executive The main TAIEX index was up 21.83 points at 8,705.13, after opening up 0.17 percent. The market will be closed on Monday
Published 02 Apr, 2011 12:00am
US jobs data boosts European shares

US jobs data boosts European shares

European shares hit its highest close in just over three weeks on Friday after strong US jobs data supported the view the global recovery was on track, while technicals also pointed to a more bullish trend. The pan-European FTSEurofirst 300 index of top s
Published 02 Apr, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries may reverse some weakness if payroll data on Friday meets expectations and the head of the New York Federal Reserve bank counters fears that the Fed will quickly withdraw monetary stimulus. Traders are focusing on employment data on Friday t
Published 02 Apr, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries may reverse some weakness if payroll data on Friday meets expectations and the head of the New York Federal Reserve bank counters fears that the Fed will quickly withdraw monetary stimulus. Traders are focusing on employment data on Friday t
Published 02 Apr, 2011 12:00am
South East Asian markets: inflows push most indices to new highs

South East Asian markets: inflows push most indices to new highs

Southeast Asian stock markets advanced on Friday, with Thai stocks scaling a 14-1/2 year peak and investors buying into the region's resource and bank shares to capitalise on strong oil prices and rising interest rates. Investors sought for beneficiaries
Published 02 Apr, 2011 12:00am
Wall Street ends a strong quarter optimistic on payrolls

Wall Street ends a strong quarter optimistic on payrolls

US stocks ended a solid quarter with the barest of moves on Thursday, as investors looked ahead to Friday's US jobs report to provide a catalyst to push indexes to new highs for the year. After gaining 5.4 percent in the first quarter, the benchmark S&P 5
Published 02 Apr, 2011 12:00am
Friday's afternoon trade: stocks climb after solid data

Friday's afternoon trade: stocks climb after solid data

US stocks climbed on Friday after solid data on the labour market strengthened confidence in the recovery and comments from a Federal Reserve Bank president signalled support for economic stimulus efforts. The combination of an improving economy and suppo
Published 02 Apr, 2011 12:00am
Nikkei falls at start of fiscal year

Nikkei falls at start of fiscal year

Japan's Nikkei average began a new financial year with a small loss on Friday, running out of steam after bumping into key technical resistance, and more losses are expected in the near term as companies are likely to lower their profit outlooks after las
Published 02 Apr, 2011 12:00am
Hong Kong, China shares up

Hong Kong, China shares up

Hong Kong shares rose on Friday, building on gains in the first quarter, led by energy shares, while financials drove the Chinese markets higher after a good earnings season helped turn valuations attractive for investors. Energy majors CNOOC Ltd and Petr
Published 02 Apr, 2011 12:00am
Indian shares rise for second week in a row

Indian shares rise for second week in a row

Indian shares rose for a second week in a row, signalling the overall sentiment was turning bullish, but closed 0.1 percent lower on Friday as investors locked gains after an eight-session rally. Energy giant Reliance Industries and financials leading the
Published 02 Apr, 2011 12:00am
Seoul shares soar

Seoul shares soar

Seoul shares rose 0.7 percent on Friday, posting its highest- close ever and chalking up seven consecutive sessions of gains, helped by continued foreign buying amid an improving global economic backdrop. The Korea Composite Stock Price Index (KOSPI) fini
Published 02 Apr, 2011 12:00am
Funds approached Carrefour to buy Dia unit

Funds approached Carrefour to buy Dia unit

Some private equity funds are trying to convince Carrefour it should shelve plans to list its Dia discount unit due to volatile market conditions and instead sell it outright, sources close to the matter said. The proposal comes amid mounting opposition t
Published 02 Apr, 2011 12:00am
Funds approached Carrefour to buy Dia unit

Funds approached Carrefour to buy Dia unit

Some private equity funds are trying to convince Carrefour it should shelve plans to list its Dia discount unit due to volatile market conditions and instead sell it outright, sources close to the matter said. The proposal comes amid mounting opposition t
Published 02 Apr, 2011 12:00am
Live Nation in bidding for Warner Music

Live Nation in bidding for Warner Music

No 1 concert promoter and ticketing company Live Nation Entertainment Inc is in the running to buy the recorded music assets of Warner Music Group Corp, the world's third largest music company, according to a person familiar with the talks. Warner Music e
Published 02 Apr, 2011 12:00am
No deal on grain market

No deal on grain market

No a single deal was reported on the wholesales grain and seed market on Friday as main participants were busy in preparations for Juma prayers.
Published 02 Apr, 2011 12:00am
No deal witnessed for second day on cotton market

No deal witnessed for second day on cotton market

Dullness persisted on the cotton market on Friday as leading mills and spinners were still double minded before striking any deal, dealers said. Karachi Cotton Association (KCA) official spot rate was steady at Rs 12,500, they said.
Published 02 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 137,818 tonnes of cargo including 94,152 tonnes of import cargo, 43,666 tonnes of export cargo and 3,070 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 94,152 tonnes compris
Published 02 Apr, 2011 12:00am
China not buying Argentina's soyaoil

China not buying Argentina's soyaoil

Argentine soya processors are operating at a loss this year because China has not resumed soyaoil purchases despite resolving a trade row with the South American country, an industry group said on Thursday. The South American country is the world's No 1 s
Published 02 Apr, 2011 12:00am
Indonesian rubber exports to Japan seen falling

Indonesian rubber exports to Japan seen falling

Indonesian rubber exports to Japan are expected to drop significantly in coming months as the earthquake and tsunami there last month affected the country's auto industry, a trade ministry official said on Friday. The Indonesian Rubber Association said la
Published 02 Apr, 2011 12:00am
Indonesia's March Sumatra coffee exports soar

Indonesia's March Sumatra coffee exports soar

Indonesia's robusta coffee shipments from the main growing areas in Sumatra more than trippled in March versus a year ago, as farmers sold stocks to bank on high coffee prices, trade data and an industry official said on Friday. Exporters shipped 29,391.8
Published 02 Apr, 2011 12:00am
US Midwest corn, soyabean bids rise

US Midwest corn, soyabean bids rise

Corn and soyabean spot basis bids rose at processors, elevators and ethanol plants around the US Midwest on Thursday on support from recent slowdown in farmer sales, grain merchants said. Futures prices for both crops were expected to open sharply higher
Published 02 Apr, 2011 12:00am
Brazil set to turn out a record soya crop

Brazil set to turn out a record soya crop

Brazil looks set to turn out a record soya crop in the 2010/11 season thanks to higher yields and despite the loss of some produce to floods in the center western soya belt, forecaster Agroconsult said on Tuesday. The soya crop, now being harvested, shoul
Published 02 Apr, 2011 12:00am
Canadian canola surges on USDA data

Canadian canola surges on USDA data

ICE Canadian canola futures spiked on Thursday, posting a quarterly gain after US Agriculture Department data showed shrinking stockpiles of US soyabeans and corn. Nearby canola posted quarterly rise of 1.6 percent - its fourth straight increase - and a m
Published 02 Apr, 2011 12:00am
Brazil's cocoa arrivals fall sharply

Brazil's cocoa arrivals fall sharply

Brazil's cocoa arrivals fell sharply in the last week as the harvest tailed off in top growing state Bahia, but a decrease in deliveries in other areas may be due to lower prices, a local cocoa analyst said. "The explanation could be the holding back of c
Published 02 Apr, 2011 12:00am
US employment jumps in March, jobless rate falls

US employment jumps in March, jobless rate falls

US employment grew solidly for a second month in March and the jobless rate hit a two-year low of 8.8 percent, underscoring a decisive shift in the labour market that should help to underpin the recovery. Nonfarm payrolls rose 216,000 last month, the larg
Published 02 Apr, 2011 12:00am
World Bank lifts moratorium on palm oil investments

World Bank lifts moratorium on palm oil investments

The World Bank on Friday lifted an 18-month global moratorium on lending for new palm oil investments, saying it had endorsed a strategy that would focus on supporting small farmers that dominate the sector. The poverty-fighting institution suspended new
Published 02 Apr, 2011 12:00am
China's first onshore yuan options quoted in line with offshore

China's first onshore yuan options quoted in line with offshore

Several major Chinese and foreign banks traded China's first onshore yuan/dollar options on Friday, with the options' volatilities quoted in line with offshore yuan/dollar options, traders said. Bank of China, ICBC and Deutsche Bank were confirmed to have
Published 02 Apr, 2011 12:00am
ECB takes place of Fed loans for European banks

ECB takes place of Fed loans for European banks

European banks heavily supported by the US Federal Reserve at the height of the financial crisis have since weaned themselves off these loans, even as the struggle for funding in Europe gets tougher. Belgian-French bank Dexia, revealed as the biggest user
Published 02 Apr, 2011 12:00am
S&P downgrades Ireland

S&P downgrades Ireland

Standard & Poor's on Friday downgraded its credit rating on beleaguered Ireland over debt concerns but gave the eurozone country a "stable" outlook after welcoming its plans to prop up sinking banks. S&P cut its rating by one notch to BBB+ from A-, saying
Published 02 Apr, 2011 12:00am
India restricts Iran trade as oil payment row rumbles

India restricts Iran trade as oil payment row rumbles

India has banned all trade in goods and technology that could help Iran's nuclear programme, a government statement said, seeking to align its policy at the UN Security Council where New Delhi is a non-permanent member.
Published 02 Apr, 2011 12:00am
IMF says activates $581 billion crisis fund

IMF says activates $581 billion crisis fund

The International Monetary Fund on Friday activated a $581 billion crisis fund as expected after support from member countries. The fund - New Arrangements to Borrow - was expanded in 2009 following a call by Group of 20 major economies as a confidence bu
Published 02 Apr, 2011 12:00am
South Korea's inflation hits 29-month high

South Korea's inflation hits 29-month high

South Korea's inflation hit a 29-month high in March as exports hit a new record, according to data released Friday that raised the prospect of further interest rate rises. The consumer price index rose 4.7 percent from March 2010, accelerating from the p
Published 02 Apr, 2011 12:00am
EU files tactical appeal in Boeing trade spat

EU files tactical appeal in Boeing trade spat

The European Union filed an appeal against an aircraft subsidies ruling on Friday just hours after calling it a victory, a tactical move in a transatlantic game of global trade chess. Europe's appeal came after the World Trade Organisation ruled Boeing ha
Published 02 Apr, 2011 12:00am
Euro jobless rate falls under 10 percent: EU

Euro jobless rate falls under 10 percent: EU

Unemployment across the eurozone fell below 10 percent in February, new European Union figures showed Friday, suggesting some 77,000 fewer people were out of work. The rate of unemployment across the 17-nation currency area fell to 9.9 percent - after Jan
Published 02 Apr, 2011 12:00am
US economy showing real strength: Obama

US economy showing real strength: Obama

President Barack Obama declared Friday that the US economy was showing 'signs of real strength' in an upbeat assessment after new data showed the unemployment rate dipped to 8.8 percent. "Our economy is showing signs of real strength," Obama said in remar
Published 02 Apr, 2011 12:00am
India eases foreign investment rules

India eases foreign investment rules

India has eased regulations governing foreign companies and their Indian joint venture partners as it seeks to halt a decline in direct foreign investment. Foreign companies with an existing joint venture in India will no longer need the local partner's p
Published 02 Apr, 2011 12:00am
House passes aviation bill

House passes aviation bill

The House has passed a sweeping aviation bill that targets safety and labour rules opposed by industry. The Republican-drafted bill was approved Friday by a 223 to 196 vote, mostly along party lines. It provides a blueprint for Federal Aviation Administra
Published 02 Apr, 2011 12:00am
Paulson, at $4.9 billion, tops hedge fund earner list

Paulson, at $4.9 billion, tops hedge fund earner list

The richest 25 hedge fund managers made a bit less money last year. But don't cry too hard. Collectively, this privileged class of traders did quite well for itself - raking in some $22 billion in compensation, according to AR Magazine.
Published 02 Apr, 2011 12:00am
Paulson, at $4.9 billion, tops hedge fund earner list

Paulson, at $4.9 billion, tops hedge fund earner list

The richest 25 hedge fund managers made a bit less money last year. But don't cry too hard. Collectively, this privileged class of traders did quite well for itself - raking in some $22 billion in compensation, according to AR Magazine.
Published 02 Apr, 2011 12:00am
After all the hype, the anti-climax

After all the hype, the anti-climax

Cricket fever that had kept the whole population of the sub-continent in its grip for a major portion of the last couple of years, and reached a stage of delirium on Wednesday, March 30, came to a shuddering halt in Pakistan late that evening when our cri
Published 02 Apr, 2011 12:00am
KARACHI CHRONICLE: Earth Hour city

KARACHI CHRONICLE: Earth Hour city

On 26th March a document was signed by government and private organisations to declare Karachi Earth Hour city. Earth Hour has no other purpose but to create public consciousness to the fast-depleting natural resources and energy resulting in climate chan
Published 02 Apr, 2011 12:00am
ART FACTS: Indelible imprints

ART FACTS: Indelible imprints

Mashkoor Raza's characteristic juxtaposition of horses and women comes into play again in the recent exhibition at Tanzara Art Gallery, Islamabad. Mashkoor has travelled a long distance since his graduation from the Karachi School of Art (KSA) in Fine Art
Published 02 Apr, 2011 12:00am
BRIDGE NOTES: Quite simple to know

BRIDGE NOTES: Quite simple to know

One of the hall marks of a good declarer in bridge is that he never wavers in his concentration and his habit of keeping track of opponents points along with their possible distribution in touch with the bidding displayed puts him on the right rails to ro
Published 02 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 02 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 02 Apr, 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 02 Apr, 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 02 Apr, 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 (April 01, 2011).

Published 02 Apr, 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 (April 01, 2011).

Published 02 Apr, 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 (April 01, 2011).

Published 02 Apr, 2011 12:00am
Cameron due on April 5

Cameron due on April 5

British Prime Minister David Cameron who sparked a diplomatic row in July last year when he warned that Pakistan could no longer "look both ways" by tolerating terrorism while demanding respect as a democracy, is reaching Islamabad on a two day visit comm
Published 02 Apr, 2011 12:00am
Cameron due on April 5

Cameron due on April 5

British Prime Minister David Cameron who sparked a diplomatic row in July last year when he warned that Pakistan could no longer "look both ways" by tolerating terrorism while demanding respect as a democracy, is reaching Islamabad on a two day visit comm
Published 02 Apr, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (April 01, 2011).

Published 02 Apr, 2011 12:00am
Five zero-rated export sectors: revised SRO issued

Five zero-rated export sectors: revised SRO issued

The Federal Board of Revenue on Friday issued a revised statutory regulatory order (SRO) for five zero-rated sectors under which further relaxation has been given to textile, leather, surgical, sports and carpet industries by reducing sales tax rate from
Published 02 Apr, 2011 12:00am
Five zero-rated export sectors: revised SRO issued

Five zero-rated export sectors: revised SRO issued

The Federal Board of Revenue on Friday issued a revised statutory regulatory order (SRO) for five zero-rated sectors under which further relaxation has been given to textile, leather, surgical, sports and carpet industries by reducing sales tax rate from
Published 02 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (April 01, 2011).
Published 02 Apr, 2011 12:00am
Five zero-rated export sectors: revised SRO issued

Five zero-rated export sectors: revised SRO issued

The Federal Board of Revenue on Friday issued a revised statutory regulatory order (SRO) for five zero-rated sectors under which further relaxation has been given to textile, leather, surgical, sports and carpet industries by reducing sales tax rate from
Published 02 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (April 01, 2011).

Published 02 Apr, 2011 12:00am
Five zero-rated export sectors: revised SRO issued

Five zero-rated export sectors: revised SRO issued

The Federal Board of Revenue on Friday issued a revised statutory regulatory order (SRO) for five zero-rated sectors under which further relaxation has been given to textile, leather, surgical, sports and carpet industries by reducing sales tax rate from
Published 02 Apr, 2011 12:00am
Commission liable to 10 percent WHT: FBR

Commission liable to 10 percent WHT: FBR

The Federal Board of Revenue on Friday announced that brokerage/commission earned in five zero-rated sectors - textile, leather, surgical, sports and carpets would be liable to 10 percent withholding tax which would be final discharge of tax liability. In
Published 02 Apr, 2011 12:00am
Commission liable to 10 percent WHT: FBR

Commission liable to 10 percent WHT: FBR

The Federal Board of Revenue on Friday announced that brokerage/commission earned in five zero-rated sectors - textile, leather, surgical, sports and carpets would be liable to 10 percent withholding tax which would be final discharge of tax liability. In
Published 02 Apr, 2011 12:00am
Commission liable to 10 percent WHT: FBR

Commission liable to 10 percent WHT: FBR

The Federal Board of Revenue on Friday announced that brokerage/commission earned in five zero-rated sectors - textile, leather, surgical, sports and carpets would be liable to 10 percent withholding tax which would be final discharge of tax liability. In
Published 02 Apr, 2011 12:00am
List of 185 raw materials issued

List of 185 raw materials issued

The Federal Board of Revenue has issued a list of 185 raw materials and items on which sales tax zero-rating facility or reduced rate of sales tax would be applicable on five leading export sectors - textile, leather, surgical, sports and carpets.
Published 02 Apr, 2011 12:00am
List of 185 raw materials issued

List of 185 raw materials issued

The Federal Board of Revenue has issued a list of 185 raw materials and items on which sales tax zero-rating facility or reduced rate of sales tax would be applicable on five leading export sectors - textile, leather, surgical, sports and carpets.
Published 02 Apr, 2011 12:00am
List of 185 raw materials issued

List of 185 raw materials issued

The Federal Board of Revenue has issued a list of 185 raw materials and items on which sales tax zero-rating facility or reduced rate of sales tax would be applicable on five leading export sectors - textile, leather, surgical, sports and carpets.
Published 02 Apr, 2011 12:00am
List of 185 raw materials issued

List of 185 raw materials issued

The Federal Board of Revenue has issued a list of 185 raw materials and items on which sales tax zero-rating facility or reduced rate of sales tax would be applicable on five leading export sectors - textile, leather, surgical, sports and carpets.
Published 02 Apr, 2011 12:00am
New sale price of CNG notified: two-tier slab structure adopted

New sale price of CNG notified: two-tier slab structure adopted

Oil and Gas Regulatory Authority (Ogra) on Friday notified new maximum sale price of CNG ranging between Rs 55.78 to Rs 58.55 per kg by adopting two-tier slab structure effective today (Saturday), after CNG Dealers Association (CNGDA) expressed serious co
Published 02 Apr, 2011 12:00am
New sale price of CNG notified: two-tier slab structure adopted

New sale price of CNG notified: two-tier slab structure adopted

Oil and Gas Regulatory Authority (Ogra) on Friday notified new maximum sale price of CNG ranging between Rs 55.78 to Rs 58.55 per kg by adopting two-tier slab structure effective today (Saturday), after CNG Dealers Association (CNGDA) expressed serious co
Published 02 Apr, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (April 01, 2011).

Published 02 Apr, 2011 12:00am
New sale price of CNG notified: two-tier slab structure adopted

New sale price of CNG notified: two-tier slab structure adopted

Oil and Gas Regulatory Authority (Ogra) on Friday notified new maximum sale price of CNG ranging between Rs 55.78 to Rs 58.55 per kg by adopting two-tier slab structure effective today (Saturday), after CNG Dealers Association (CNGDA) expressed serious co
Published 02 Apr, 2011 12:00am
'Rs 35 billion subsidy given on POL products in March'

'Rs 35 billion subsidy given on POL products in March'

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government had given Rs 35 billion subsidy on petroleum products during the last month. The finance minister said this while talking to media persons outside the Parliament House. He said despite
Published 02 Apr, 2011 12:00am
'Rs 35 billion subsidy given on POL products in March'

'Rs 35 billion subsidy given on POL products in March'

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government had given Rs 35 billion subsidy on petroleum products during the last month. The finance minister said this while talking to media persons outside the Parliament House. He said despite
Published 02 Apr, 2011 12:00am
''Rs 35 billion subsidy given on POL products in March''

''Rs 35 billion subsidy given on POL products in March''

Finance Minister Dr Abdul Hafeez Sheikh on Friday said the government had given Rs 35 billion subsidy on petroleum products during the last month. The finance minister said this while talking to media persons outside the Parliament House. He said despite
Published 02 Apr, 2011 12:00am
Commodity operations: threat of circular debt crisis averted

Commodity operations: threat of circular debt crisis averted

The threat of another circular debt crisis was averted as retirement of advances under commodity operation picked up and the procurement agencies got retired Rs 122 billion during the current fiscal year. Sources in banking sector told Business Recorde
Published 02 Apr, 2011 12:00am
Commodity operations: threat of circular debt crisis averted

Commodity operations: threat of circular debt crisis averted

The threat of another circular debt crisis was averted as retirement of advances under commodity operation picked up and the procurement agencies got retired Rs 122 billion during the current fiscal year. Sources in banking sector told Business Recorde
Published 02 Apr, 2011 12:00am
Commodity operations: threat of circular debt crisis averted

Commodity operations: threat of circular debt crisis averted

The threat of another circular debt crisis was averted as retirement of advances under commodity operation picked up and the procurement agencies got retired Rs 122 billion during the current fiscal year. Sources in banking sector told Business Recorde
Published 02 Apr, 2011 12:00am
Meeting decides to revamp power sector

Meeting decides to revamp power sector

At a high level meeting at the Presidency Friday on energy issues, it was decided to revamp power sector totally with a view to ending load-shedding and addressing other issues of non-sustainability of power sector. The meeting chaired by President Asif A
Published 02 Apr, 2011 12:00am
Meeting decides to revamp power sector

Meeting decides to revamp power sector

At a high level meeting at the Presidency Friday on energy issues, it was decided to revamp power sector totally with a view to ending load-shedding and addressing other issues of non-sustainability of power sector. The meeting chaired by President Asif A
Published 02 Apr, 2011 12:00am
Meeting decides to revamp power sector

Meeting decides to revamp power sector

At a high level meeting at the Presidency Friday on energy issues, it was decided to revamp power sector totally with a view to ending load-shedding and addressing other issues of non-sustainability of power sector. The meeting chaired by President Asif A
Published 02 Apr, 2011 12:00am
It's a matter of court's dignity: Chief Justice

It's a matter of court's dignity: Chief Justice

Taj Haider and Sharjeel Inam Memon of ruling Pakistan People's Party (PPP) Friday flew back to Karachi along with over 60 fellow parliamentarians, after buying time from Supreme Court till April 25 to submit their replies on the contempt notices.
Published 02 Apr, 2011 12:00am
It's a matter of court's dignity: Chief Justice

It's a matter of court's dignity: Chief Justice

Taj Haider and Sharjeel Inam Memon of ruling Pakistan People's Party (PPP) Friday flew back to Karachi along with over 60 fellow parliamentarians, after buying time from Supreme Court till April 25 to submit their replies on the contempt notices.
Published 02 Apr, 2011 12:00am
All Sindh MPAs will go to jail if PPP leaders convicted: Mirza

All Sindh MPAs will go to jail if PPP leaders convicted: Mirza

"If PPP leaders Taj Haider and Sharjeel Memon are convicted by the Supreme Court, PPP Sindh MPAs will go to jail en-bloc, terming it injustice with Sindh province," said Zulfiqar Mirza, Sindh Home Minister here on Friday.
Published 02 Apr, 2011 12:00am
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