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Archive - 2011-04-12
$750m earmarked for tribal women
Top News

$750m earmarked for tribal women

ISLAMABAD: Stung by fresh US criticism of its ability to defeat the Taliban on the Afghan border, Pakistan is turning
Published 12 Apr, 2011 07:00pm
NATO denies bombing Libya's Kikla
Top News

NATO denies bombing Libya's Kikla

BRUSSELS: NATO rejected on Tuesday a Libyan television claim that its warplanes bombed the edge of the rebel-held city o
Published 12 Apr, 2011 04:19pm
KSE end lower
Markets

KSE end lower

KARACHI: Karachi Stock Exchange (KSE) 100-share index fell 0.66 percent, or 77.98 points, to end at 11,796.09. Turnover
Published 12 Apr, 2011 02:15pm
Iraq bombs kill eight, 12 wounded
Top News

Iraq bombs kill eight, 12 wounded

BAGHDAD: Eight people were killed in bomb attacks around Iraq on Tuesday, security and hospital sources said. Three of t
Published 12 Apr, 2011 12:41pm
US Congress set to cut overseas food aid
Top News

US Congress set to cut overseas food aid

WASHINGTON: US lawmakers were on track Wednesday to approve a spending-cut plan this week that will slash environmental
Published 12 Apr, 2011 11:50am
Bank Al-Habib reports higher profit
Top News

Bank Al-Habib reports higher profit

KARACHI: Bank Al-Habib Ltd has posted a higher profit after tax of Rs 1.034 billion for the quarter ending March 31, 201
Published 12 Apr, 2011 11:42am
Crisis strengthen euro: EU chief
Top News

Crisis strengthen euro: EU chief

ATHENS: The eurozone crisis will not spread to Spain, the EU’s top official said on Tuesday as he argued that the Europe
Published 12 Apr, 2011 11:42am
Pirates free Thai ship for $5mn
Top News

Pirates free Thai ship for $5mn

MOGADISHU: Somali pirates on Tuesday said they received a ransom of five million dollars to release the MV Thor Nexus, a
Published 12 Apr, 2011 11:31am
British trade deficit narrows
Top News

British trade deficit narrows

LONDON: Britain's trade deficit shrank by more than expected in February as exports hit a record high for a second strai
Published 12 Apr, 2011 11:05am
UAE lift ban on Asif
Cricket

UAE lift ban on Asif

ISLAMABAD: Pakistani fast bowler Mohammed Asif, who was banned to enter in UAE due to possessing illegal drugs, has been
Published 12 Apr, 2011 09:42am
Australia's Ausco planning IPO
Industry

Australia's Ausco planning IPO

MELBOURNE: Australian private-equity owned building company Ausco Ltd is planning a A$500 million initial public offerin
Published 12 Apr, 2011 06:49am
Taiwan jets practise landing on motorway
Top News

Taiwan jets practise landing on motorway

TAINAN: The Taiwanese air force used a closed-off motorway as a runway on Tuesday in a rare drill simulating a Chinese s
Published 12 Apr, 2011 06:35am
National Investment Trust
BR Research

National Investment Trust

The National Investment (Unit) Trust is getting bigger and bigger. Boosted by growth in dividend income along with Rs1.45 billion earned fro
Published 12 Apr, 2011 12:00am
Remittances: the March factor
BR Research

Remittances: the March factor

Money doesn grow on trees. But when it comes to remittance inflows in Pakistan, the onset of spring sees a rather sharp increase in workers
Published 12 Apr, 2011 12:00am
Tax stalemate
BR Research

Tax stalemate

Formulators of the national budget have been caught between a rock and a hard place as they scramble to produce a budget that not only curbs
Published 12 Apr, 2011 12:00am
India releases 39 Pakistani fishermen

India releases 39 Pakistani fishermen

Indian government on Monday released 39 Pakistani prisoners who were arrested over violation of immigration laws, sea limits and crossing the border mistakenly. Indian Border Security Force officials handed over the prisoners to Pakistan Rangers at Wahgha
Published 12 Apr, 2011 12:00am
GCU's biggest career fair begins today

GCU's biggest career fair begins today

Government College University Lahore Career Guidance and Placement Centre (GCU CGPC) is going to hold one of its biggest career fairs for the university students and Old Ravians on Tuesday (today) at the varsity's campus. The career fair would allow GCU f
Published 12 Apr, 2011 12:00am
Workshop on disaster risk management held

Workshop on disaster risk management held

Vice Chancellor, Punjab University, Professor Dr Mujahid Kamran inaugurated the "Disaster Risk Management" workshop organised by the Department of Geography in collaboration with National Institute of Disaster Management (NIDM), here on Monday. Chairman G
Published 12 Apr, 2011 12:00am
Prime Minister boosts team morale, gives cash awards

Prime Minister boosts team morale, gives cash awards

Pakistani Prime Minister Yousuf Raza Gilani on Monday feted the national cricket team, which reached the semi-finals of the World Cup, honouring them with cash awards and praise. Pakistan lost to arch-rivals and hosts India in the semi-final at Mohali las
Published 12 Apr, 2011 12:00am
World Cup leaves Sri Lanka with $23 million debt

World Cup leaves Sri Lanka with $23 million debt

Sri Lanka Cricket said Monday it is saddled with a $23-million-dollar debt after cost overruns and hefty bills incurred building stadiums for the recent World Cup. "We spent a lot of money to host the World Cup, to build two stadiums and rebuild one stadi
Published 12 Apr, 2011 12:00am
Seniors Cricket Cup: Lahore Whites move into final

Seniors Cricket Cup: Lahore Whites move into final

Ashiq Qureshi-led Lahore Whites cruised into final of 13th National Seniors Cricket Cup (Zonal Phase) on Monday. Lahore Whites piled up 273-9 at Race Course Ground. In reply, Ali Garh Cricket Club were bowled out for 234 runs.
Published 12 Apr, 2011 12:00am
Watson hits record 15 sixes in Aussie win

Watson hits record 15 sixes in Aussie win

Shane Watson smashed a record 15 sixes in a career-best 185 not out as Australia clinched a three-match series against Bangladesh with a nine-wicket win in the second one-dayer on Monday. The explosive opener gave a superb display of power-hitting as he a
Published 12 Apr, 2011 12:00am
Misbah backs India, Pakistan cricket revival

Misbah backs India, Pakistan cricket revival

Pakistan's Test skipper Misbah-ul-Haq on Monday joined calls for a cricket revival with India, saying millions of fans are missing out from match suspensions over strained political ties. "Cricketing relations between the two countries should normalise be
Published 12 Apr, 2011 12:00am
PFF's women referee consolidating course starts

PFF's women referee consolidating course starts

Lahore get lion's share in the six-day PFF Women Referee Consolidating Course that commenced at FIFA House, Ferozpur Road, Lahore on Monday. The course will conclude on April 15. According to PFF Women Administrator and Course Coordinator Neha Zia, partic
Published 12 Apr, 2011 12:00am
Kroenke takes controlling stake in Arsenal

Kroenke takes controlling stake in Arsenal

Arsenal became the latest English football giant to fall into foreign hands on Monday when US sports tycoon Stan Kroenke took a controlling stake in the club after a protracted ownership tussle. The deal announced by the north London club, English champio
Published 12 Apr, 2011 12:00am
SECP registers 342 companies in March

SECP registers 342 companies in March

The Securities and Exchange Commission of Pakistan (SECP) registered 342 companies in March. The private companies have the highest share in the new incorporations totalling 301. In addition, 29 single-member companies, 1 public unlisted company, 5 non-pr
Published 12 Apr, 2011 12:00am
Nine percent decline in non-insurance current year 2010 profits

Nine percent decline in non-insurance current year 2010 profits

The non-life insurance sector, containing 21 insurance companies, has shown accumulated decline of 9 percent on year-on-year basis in profits during CY10. "The bottomline decline was mainly pushed by a significant fall of 32 percent in the sector's core i
Published 12 Apr, 2011 12:00am
Nine percent decline in non-insurance current year 2010 profits

Nine percent decline in non-insurance current year 2010 profits

The non-life insurance sector, containing 21 insurance companies, has shown accumulated decline of 9 percent on year-on-year basis in profits during CY10. "The bottomline decline was mainly pushed by a significant fall of 32 percent in the sector's core i
Published 12 Apr, 2011 12:00am
Wheat procurement: complaint cell set up at Minfa

Wheat procurement: complaint cell set up at Minfa

The government has set up complaint cell at the food and agriculture ministry to respond to farmers' complaints in the forthcoming wheat procurement season. Federal Minister for Food, Agriculture and Livestock, Mir Israrullah Zehri, while chairing wheat p
Published 12 Apr, 2011 12:00am
PBA clarification

PBA clarification

Pakistan Banks Association (PBA) has clarified that the PBA is still considering its proposals for amendments in the Seventh Banking Schedule of Income Tax Ordinance, 2001. According to a clarification of the PBA, the PBA has noted with concern over a new
Published 12 Apr, 2011 12:00am
Move termed state terrorism: banning of 'burqa' in France slammed

Move termed state terrorism: banning of 'burqa' in France slammed

Jamat-e-Islami (JI) chief, Syed Munawar Hasan has said the French government orders for banning burqa, forcibly putting off Muslim ladies' veil and putting them behind the bars is the worst form of state terrorism and part of West's efforts to check conti
Published 12 Apr, 2011 12:00am
Excessive rains in Punjab may damage wheat, gram crops

Excessive rains in Punjab may damage wheat, gram crops

The current rain spell would damage wheat and gram crops in the Punjab as, in most parts of the province, these crops have not yet matured. Punjab is biggest wheat producing province in Pakistan and produces nearly 80 percent of Pakistan's total wheat out
Published 12 Apr, 2011 12:00am
GBLA supports reopening of ZAB case

GBLA supports reopening of ZAB case

The Gilgit-Baltistan Legislative Assembly (GBLA) has passed two resolutions supporting President Asif Ali Zardari in reference for reopening the case of Zulfiqar Ali Bhutto by Supreme Court of Pakistan while other against abusive language of leader of the
Published 12 Apr, 2011 12:00am
Three robbers killed in 'encounter'

Three robbers killed in 'encounter'

Three robbers were killed in police encounter, while fourth fled away, here Monday at Rasala Road about 12km from here. According to police, a gang of dacoits on two motorcycles were fleeing after looting a passenger bus. Police chased them on Jhang Road
Published 12 Apr, 2011 12:00am
Sindh chief minister reviews revenue collection targets

Sindh chief minister reviews revenue collection targets

The Chief Minister of Sindh, Syed Qaim Ali Shah, here on Monday presided over a high level meeting at C M House to review the updated collection revenue and various taxes in the province. He directed the Revenue and Tax Collection departments to pay full
Published 12 Apr, 2011 12:00am
PAC body for quick disposal of cases related to financial crimes

PAC body for quick disposal of cases related to financial crimes

The special committee of Public Account Committee (PAC) has observed that if the cases relating to financial crimes were resolved quickly, Pakistan would be in a position to get rid of foreign loans. The Special Committee III of PAC, which met here on Mon
Published 12 Apr, 2011 12:00am
Energy Council: Industry leaders welcome step

Energy Council: Industry leaders welcome step

The announcement of the formation of Energy Council was welcomed by the industry leaders here on the second day of Pakistan Energy Conference 2011. Wide range energy issues were discussed here on Monday in the conference organised by the Petroleum Institu
Published 12 Apr, 2011 12:00am
Actor Mastana passes away

Actor Mastana passes away

Punjabi stage actor Murtza Hassan alias Mastana has passed away on Monday owing to protracted illness Hepatitis C in Victoria Hospital, Bahawalpur. He was suffering from this critical disease and was hospitalised for the last three weeks where he breath h
Published 12 Apr, 2011 12:00am
'Women's involvement in economic activities to boost economy'

'Women's involvement in economic activities to boost economy'

Dr Dewi Motik Pramono, Chairperson National Council of Women's Organisation of Indonesia has said that women have a great role to play in socio - economic development of any country, as their involvement in economic activities help boost the economy.
Published 12 Apr, 2011 12:00am
Government urged to check LPG cartelisation, price manipulation

Government urged to check LPG cartelisation, price manipulation

The Chief Executive Officer (CEO) of SHV Energy Pakistan (Private) Ltd, Sohail A Qurashi, on Monday urged regulator to, instead of price control, in LPG sector in a bid to ensure fair competition in the market. "The government should take measures to cont
Published 12 Apr, 2011 12:00am
Cooking oil production to reduce import bill by $600 million

Cooking oil production to reduce import bill by $600 million

Pakistan will produce over 0.4 million tons of cooking oil/ghee domestically from different oilseed crops like sunflower, canola and olive, which will decrease country's import bill by some $600 million this year. Pakistan this year has set sunflower cult
Published 12 Apr, 2011 12:00am
Capital controls

Capital controls

The International Monetary Fund that has always been regarded as the bastion of the principle of free flow of goods, services and capital across the globe, was likely to reassess its position on the matter, but on a case-by-case basis.
Published 12 Apr, 2011 12:00am
End of doctors' strike

End of doctors' strike

Young Doctors Association called off its strike for a three-fold pay increase on Thursday after the Punjab government announced the setting up of a six-member committee which is to submit its recommendations to Chief Minister Shahbaz Sharif within two wee
Published 12 Apr, 2011 12:00am
Economy blues

Economy blues

The Asian Development Bank (ADB) reports on Pakistan, as well as the SBP's quarterly reports, paint progressively more dismal pictures of the economy. As per the latest version of these reports, things may not improve even in FY12 - the fourth year in off
Published 12 Apr, 2011 12:00am
Conservation measures must be adopted

Conservation measures must be adopted

Pakistan is facing debilitating power shortages since the last five years. The crunch is surely on account of the apathy of a whole decade, which started as a backlash to the induction of the IPPs and the ensuing glut in the late 1990s. Instead of making
Published 12 Apr, 2011 12:00am
Global coal consumption and Thar

Global coal consumption and Thar

Despite coal as the cheapest and effective source of energy consumed throughout the world for generating power, a lobby is busy hatching conspiracy against the utilisation of the gigantic Thar coal deposits in Sindh that are sufficient to meet energy requ
Published 12 Apr, 2011 12:00am
Valid criticism?

Valid criticism?

During the last two weeks, both the US and the UK have severely castigated the PPP-led government for what these countries say Islamabad's utter failure to effectively manage the affairs of the state.
Published 12 Apr, 2011 12:00am
'Effort made to facilitate growers to cultivate variety of crops'

'Effort made to facilitate growers to cultivate variety of crops'

DCO Khairpur Mohammad Abbas Baloch presided over the meeting of District Agriculture Facility Board (DAFB) in DCO Darbar Hall. He said that every possible effort has been taken to facilitate the grower of the district to cultivate the various crops to con
Published 12 Apr, 2011 12:00am
Khyber Pakhtunkhwa share in federal divisible pool to decline

Khyber Pakhtunkhwa share in federal divisible pool to decline

The share of Khyber Pakhtunkhwa in federal divisible pool is likely to decline by Rs 12 billion, alerting the provincial government to adopt strict financial discipline and cut in the non-development expenditure for the last six months of the current fina
Published 12 Apr, 2011 12:00am
Meeting of SHRM Forum Pakistan held

Meeting of SHRM Forum Pakistan held

SHRM is a non-profit Human Resource Management Society working for the advancement of the profession and has more than 250,000 members in 140 countries. The maiden meeting of SHRM Forum Pakistan was held in synchronous video mode at Islamabad, Karachi, an
Published 12 Apr, 2011 12:00am
Four alleged suspects held in gold robbery case

Four alleged suspects held in gold robbery case

Islamabad police arrested four persons allegedly involved in theft of gold ornaments worth Rs 2 million from a house. Maryam Fazal, wife of Tariq Din of sector F-11/2, registered a complaint with Shalimar police station, stating that she employed two maid
Published 12 Apr, 2011 12:00am
New IG of NH&MP takes over charge

New IG of NH&MP takes over charge

The newly appointed Inspector General (IG) of National Highways and Motorway Police (NH&MP) Zafarullah Khan took over the charge here on Monday. Zafarullah Khan is the 8th IG NH&MP. Before his posting as IG NH&MP, he has a good track record of professiona
Published 12 Apr, 2011 12:00am
Forex companies issues: SBP constitutes committee

Forex companies issues: SBP constitutes committee

The State Bank of Pakistan has constituted a four-member committee to resolve the issues relating to currency exchange companies. The committee will also work for implementation of anti-money laundering law and SBP regulations. A delegation of eight membe
Published 12 Apr, 2011 12:00am
Seven wire thieves arrested

Seven wire thieves arrested

The Karachi Electric Supply Company's high-tension transmission network was disconnected from two places on Saturday night by unknown thieves causing Pipri West to KEPZ circuit to trip. The maintenance teams have replaced the damaged wires. First the thie
Published 12 Apr, 2011 12:00am
Aziz Memon to address Global Philanthropy Forum

Aziz Memon to address Global Philanthropy Forum

Aziz Memon, a noted entrepreneur and acclaimed social worker, will be one of the speakers at the 10th annual conference of the Global Philanthropy Forum (GPF), to be held in Redwood City, California, from April 13 to 15. His session 'Rapid Fire Talks Turn
Published 12 Apr, 2011 12:00am
BQATI annual conference on April 13

BQATI annual conference on April 13

The Bin Qasim Association of Trade and Industry (BQATI) is organising an annual conference on challenges faced by Pakistani industries, remedies and future prospects for Industrialisation on Wednesday (tomorrow) at 5 30pm at the Crystal Ball Room, Marriot
Published 12 Apr, 2011 12:00am
Challenges faced by country: Mushahid for broad-based consensus

Challenges faced by country: Mushahid for broad-based consensus

Pakistan Muslim League (PML) Secretary General Mushahid Hussain Syed on Monday called for a broad-based consensus among all political parties for a joint strategy to cope with looming challenges like energy, education and terrorism, saying that no single
Published 12 Apr, 2011 12:00am
Two gangs of motorcycle lifters busted, seven held

Two gangs of motorcycle lifters busted, seven held

Islamabad Police busted two gangs of motorcycle lifters and dacoits and held seven people including five Afghan nationals for their alleged involvement in stealing motorcycles and dacoities from whom two pistols and one stolen motorcycle were recovered.
Published 12 Apr, 2011 12:00am
ACCA publishes collection of essays

ACCA publishes collection of essays

ACCA on Monday published a collection of essays from experts in the public and private sectors assessing the role of ethical corporate behaviour in risk management and governance. The paper, Risk & Reward: Shared Perspectives, features contributions that
Published 12 Apr, 2011 12:00am
Khanpur Lake festival from April 15

Khanpur Lake festival from April 15

The Tourism Corporation of Khyber Pakhtunkhwa is organising an Annual Festival at Khanpur Lake on 15-17 of this month. The Khanpur lake is at 20 minutes drive from Taxila by pass. The tourism official talking to APP on Monday said that the multiple cultur
Published 12 Apr, 2011 12:00am
US MIDDAY: gold and silver retreat

US MIDDAY: gold and silver retreat

Signs of a possible Libyan peace deal knocked gold down from a record high hit early on Monday on the back of a weaker dollar and inflation worries, while silver backed off from a 31-year high but was still on track for its ninth straight gain.
Published 12 Apr, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper retreated from an earlier five-week high on Monday, snapping a four day rally as the struggling dollar strengthened and a strong aftershock in Japan unnerved some investors. Losses sped up later in the session after long-term commodity bull Goldman
Published 12 Apr, 2011 12:00am
US MIDDAY: corn rises

US MIDDAY: corn rises

US corn futures rose on Monday but held below a new record high posted overnight as traders bet on higher prices to preserve dwindling supplies in the United States, the top exporter of the feed grain. The tightest US corn stocks since the 1930s lifted fu
Published 12 Apr, 2011 12:00am
US MIDDAY: cocoa and sugar up

US MIDDAY: cocoa and sugar up

US cocoa futures settled higher on Monday after paring gains when Ivory Coast's Laurent Gbagbo was arrested and hopes were raised that the country's cocoa exports would resume in the near future. Arabica coffee finished slightly easier in choppy dealings
Published 12 Apr, 2011 12:00am
Gold hits record in European trade

Gold hits record in European trade

Gold rose to a record on Monday as expectations the Federal Reserve will lag other central banks in tightening monetary policy hit the dollar, though it later eased along with oil on signs of a possible Libyan peace deal. Spot gold rose as high as $1,476.
Published 12 Apr, 2011 12:00am
Gold hits record in Asia

Gold hits record in Asia

Gold jumped to a record high for a fifth straight trading day on Monday as the prospect of more declines in the US dollar drove investors into the precious metal, with record exchange traded fund holdings helping silver to its highest in more than three d
Published 12 Apr, 2011 12:00am
Liffe cocoa pares gains, sugar moves up

Liffe cocoa pares gains, sugar moves up

Liffe July cocoa pared gains to end 21 pounds higher at 1,910 pounds a tonne on Monday, after earlier peaking at 1,938 pounds a tonne. The outlook for the resumption of exports from top producer Ivory Coast improved with the arrest of Laurent Gbagbo. Liff
Published 12 Apr, 2011 12:00am
Malaysian palm oil off three-week high

Malaysian palm oil off three-week high

Malaysian palm oil futures ended off a three-week high on Monday as higher than expected stocks erased earlier gains driven by competing vegetable oil markets and crude oil. March palm oil stocks in Malaysia rose to a three-month high on production surgin
Published 12 Apr, 2011 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Key Tokyo rubber futures rose more than 3 percent on Monday, drawing support from a rally in other commodities markets late last week. The key Tokyo Commodity Exchange rubber contract for September delivery settled at 475.2 yen per kg, up 11.4 yen or 2.5
Published 12 Apr, 2011 12:00am
Oil falls over two percent

Oil falls over two percent

Oil dropped more than 2 percent on Monday, falling from 32-month highs on concerns that rising fuel costs will erode demand and threaten economic recovery. Analysts and brokers pointed to overbought technicals along with mounting concerns about demand, hi
Published 12 Apr, 2011 12:00am
Copper slips on new Japan quake

Copper slips on new Japan quake

Copper reached five-week highs on Monday as a weaker dollar and robust imports by top consumer China boosted investor appetite for the metal, but then turned lower after news of another strong earthquake in Japan. Initially tracking copper, aluminium jump
Published 12 Apr, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper prices firmed in both London and Shanghai markets on Monday, while London tin hit a record high for a second consecutive session, supported by encouraging China copper imports data as well as a weak dollar. China's copper imports in March jumped 29
Published 12 Apr, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

US cotton futures rebounded to a firm close Monday on investor short-covering as fibre contracts recouped the losses posted late last week, analysts said. The key May cotton contract on ICE Futures US gained 1.61 cents to settle at $2.0458 per lb, trading
Published 12 Apr, 2011 12:00am
Russia raps US human rights report

Russia raps US human rights report

Russia's Foreign Ministry said on Monday that last week's US State Department report, criticising Moscow's human rights record, reflected double standards and was politicised. "As before, the document has unfortunately become obvious evidence of the use o
Published 12 Apr, 2011 12:00am
Broker admits role in US insider trading scheme

Broker admits role in US insider trading scheme

A mortgage broker who secretly recorded two friends who prosecutors say tried to cover up one of the biggest US insider trading cases on record pleaded guilty to involvement in the 17-year scheme. Kenneth Robinson admitted to being a middleman who supplie
Published 12 Apr, 2011 12:00am
Kazakhstan appoints Arabic-speaking Foreign minister

Kazakhstan appoints Arabic-speaking Foreign minister

Kazakhstan appointed a new foreign minister on Monday to strengthen ties with other Muslim states, part of a cabinet reshuffle only days after veteran President Nursultan Nazarbayev won a landslide election victory. Nazarbayev, embarking on his third deca
Published 12 Apr, 2011 12:00am
Australian drug smuggler weds in Indonesian jail

Australian drug smuggler weds in Indonesian jail

An Australian drug smuggler serving a life sentence married his Indonesian sweetheart on Monday in prison on the holiday island of Bali, and again proclaimed his innocence. Martin Stephens and Christine Winarni Puspayanti, both 34, said their vows in a ch
Published 12 Apr, 2011 12:00am
UN starts paying Taliban defectors

UN starts paying Taliban defectors

The United Nation has started issuing payments to former Taliban fighters who lay down their arms and join the government in the northern province of Kunduz, an official said Monday. "We have begun the registration of more than three hundred armed opposit
Published 12 Apr, 2011 12:00am
50 Afghan insurgents switch sides in southern Kandahar

50 Afghan insurgents switch sides in southern Kandahar

Some 50 Taliban insurgents, including one who said he was a Taliban provincial leader, defected on Monday to the government in Afghanistan's southern Kandahar, a province that has long been a militant stronghold. The 50 men, armed with light and heavy mac
Published 12 Apr, 2011 12:00am
Yemen opposition rejects Gulf plan, Saleh accepts

Yemen opposition rejects Gulf plan, Saleh accepts

Yemen's opposition rejected on Monday a Gulf Arab initiative for President Ali Abdullah Saleh to step down, because it appears to offer him immunity from prosecution, while Saleh himself welcomed the plan. Gulf Arab foreign ministers meeting in Riyadh lat
Published 12 Apr, 2011 12:00am
Russian president's wife 'has no savings'

Russian president's wife 'has no savings'

Russia's leaders on Monday declared their incomes for 2010, with President Dmitry Medvedev revealing that he owns only one classic car dating back to the Stalin era and his wife has no savings. Medvedev earned 3.378 million rubles ($120,653) last year, he
Published 12 Apr, 2011 12:00am
US court rules against Arizona immigration law

US court rules against Arizona immigration law

A US appeals court upheld a preliminary injunction against parts of Arizona's controversial immigration law in a ruling released on Monday. The 9th US Circuit Court of Appeals ruled that a lower court did not abuse its authority by enjoining key sections
Published 12 Apr, 2011 12:00am
EU split over African migration's 'human tsunami'

EU split over African migration's 'human tsunami'

Europe was divided Monday over how to deal with an exodus of migrants fleeing unrest in north Africa, as Rome clashed with neighbours refusing to take in boatpeople pouring into Italy. Italy has urged its European Union neighbours to help it cope with a "
Published 12 Apr, 2011 12:00am
Syrian forces seal off Banias

Syrian forces seal off Banias

Syrian security forces sealed off the coastal city of Banias following pro-democracy protests and killings by irregulars loyal to Syrian President Bashar al-Assad, witnesses said on Monday. In the capital, students demonstrated at Damascus University's sc
Published 12 Apr, 2011 12:00am
Israel should topple Hamas: Lieberman

Israel should topple Hamas: Lieberman

Israel should not settle for a truce with Hamas in Gaza, and should instead seek to topple the rulers of the coastal strip, Foreign Minister Avigdor Lieberman said on Monday. "The goal that we have settled on, of seeking a return to calm, is a grave error
Published 12 Apr, 2011 12:00am
Japan expands nuclear evacuation

Japan expands nuclear evacuation

Japan expanded the evacuation zone around a crippled nuclear plant to avoid exposing residents to high levels of accumulated radiation, as the struggle to contain the worst nuclear crisis since Chernobyl entered its second month. The operator of the wreck
Published 12 Apr, 2011 12:00am
Nineteen killed in Iraq bombings

Nineteen killed in Iraq bombings

Two bombs exploded near a crowded market in the Iraqi city of Falluja on Monday, killing six people and injuring two dozen, while two roadside bombs in Diyala province killed 10, security and hospital sources said. In a separate incident in the Iraqi capi
Published 12 Apr, 2011 12:00am
Blast at Belarus metro station, seven dead

Blast at Belarus metro station, seven dead

A blast hit a crowded metro station in the centre of the Belarussian capital Minsk during the evening rush hour on Monday and police said seven people had been killed and about 50 injured. The state news agency BelTA said the blast occurred at 5.55 pm (14
Published 12 Apr, 2011 12:00am
Australian dollar climbs

Australian dollar climbs

The Australian dollar climbed to a fresh 2.5-year high against the yen on Monday as investors piled into carry trades, while sitting inches away from a fresh peak on its US counterpart. The Aussie climbed as high as 90.04 yen, before steadying around 89.6
Published 12 Apr, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 72.80/72.86 (previous 72.81/72.86). Call Money Rates: 6.00-12.00 percent (previous 10.00-12.00 percent).
Published 12 Apr, 2011 12:00am
Sterling down versus euro

Sterling down versus euro

Sterling hit a five-and-a-half month low against the euro on Monday as investors bet that UK interest rates would continue to lag those in the eurozone, while the pound was steady against the dollar. The euro rose to 88.60 pence in early morning trade, it
Published 12 Apr, 2011 12:00am
Yuan slips

Yuan slips

The yuan closed slightly weaker against the dollar on Monday, propelled by temporary corporate dollar demand in the afternoon session, traders said. The benchmark Reuters Jefferies CRB index , which covers 19 mostly US-traded commodities, has leapt 48 per
Published 12 Apr, 2011 12:00am
Singapore dollar at record high

Singapore dollar at record high

The Singapore dollar hit a record high and the Indonesian rupiah touched a seven-year peak on Monday as investors chased higher-yielding Asian currencies on the expectation that emerging Asian countries will keep tightening to contain inflation. Some of t
Published 12 Apr, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee fell on Monday as local shares came under pressure after industrial output growth slowed unexpectedly in February and high global crude prices pushed domestic oil firms to buy dollars. The partially convertible rupee ended at 44.3850/3950
Published 12 Apr, 2011 12:00am
Yen off lows in London

Yen off lows in London

The yen was off an 11-month low against the euro and a 2-1/2 year trough versus the Australian dollar on Monday, as another earthquake in Japan led some investors to pare bearish bets against the country's currency. Traders said speculator positioning and
Published 12 Apr, 2011 12:00am
Midday trade in New York: dollar rebounds versus euro

Midday trade in New York: dollar rebounds versus euro

The dollar rebounded against the euro on Monday after steep losses on Friday as the US government averted a potential shutdown, although the focus on the debt ceiling debate could limit the greenback's gains. A rally in the dollar was also overdue after h
Published 12 Apr, 2011 12:00am
Yean falls in Asia

Yean falls in Asia

The yen fell to an 11-month low against the euro and a 2-1/2 year trough versus the Australian dollar on Monday, and looked set to weaken further as investors piled into carry trades in favour of higher-yielding assets. The US dollar dipped back in the di
Published 12 Apr, 2011 12:00am
Euro overnight rates set to jump higher

Euro overnight rates set to jump higher

The Eonia overnight rate is set to hit its highest level since February this week as the European Central Bank's new maintenance period starts with higher interest rates. The ECB has raised its main refinancing rate to 1.25 percent, ending almost two year
Published 12 Apr, 2011 12:00am
UK's top share index falls

UK's top share index falls

Britain's top share index closed flat on Monday, with caution from traders wary of turbulence during the US earnings season offset by strength in the banking sector following a key report on the future shape of UK banking. After the market's close on Mond
Published 12 Apr, 2011 12:00am
Most Southeast Asian stocks pull back

Most Southeast Asian stocks pull back

Most Southeast Asian stock markets fell on Monday as investors took profits in big-caps and financials while resource shares reversed early gains as global oil prices eased. Market volume was generally weak, with turnover of most of the bourses falling be
Published 12 Apr, 2011 12:00am
Taiwan stocks lower

Taiwan stocks lower

Taiwan stocks fell 0.16 percent on Monday, weighed down by Acer Inc and TSMC after their March sales results fell or just met market expectations. Smartphone maker HTC, however, rose 3.45 percent and was the most active issue by turnover. HTC, whose marke
Published 12 Apr, 2011 12:00am
European shares slip

European shares slip

European shares fell slightly on Monday, with Hochtief leading the construction sector lower after a profit warning, though strategists were confident the market's recent rally would resume. The pan-European FTSEurofirst 300 index fell 0.2 percent to clos
Published 12 Apr, 2011 12:00am
Shanghai, Hong Kong shares decline

Shanghai, Hong Kong shares decline

Chinese shares flirted with their highest levels of the year on Monday, buoyed by surging commodities companies, before profit-taking in financial and property stocks pulled down benchmark indexes in Shanghai and Hong Kong. Banking shares, which carry the
Published 12 Apr, 2011 12:00am
Seoul shares down

Seoul shares down

Seoul shares fell on Monday after recent gains as caution lingered about runaway oil prices and the corporate earnings outlook. The Korea Composite Stock Price Index (KOSPI) ended down 0.26 percent at 2,122.39 points. The KOSPI 200 June futures fell 0.45
Published 12 Apr, 2011 12:00am
Indian shares stay lower

Indian shares stay lower

Indian shares slipped for the fifth day on Monday amid weak world equities and closed nearly 1 percent lower, hurt by unexpectedly slow February industrial output data. Industrial output (IIP) grew at a slower-than-expected 3.6 percent in February, dragge
Published 12 Apr, 2011 12:00am
Australian shares at one-year high

Australian shares at one-year high

Australian shares rose 0.6 percent on Monday, boosted as BHP Billiton rallied in heavy volumes after it hosed down speculation it was preparing to spend billions buying Woodside Petroleum, Australia's largest oil and gas company. China's first quarterly t
Published 12 Apr, 2011 12:00am
Monday's afternoon trade: US markets flat

Monday's afternoon trade: US markets flat

US stocks were little changed on Monday as investors awaited companies' quarterly results to see if earnings would be strong enough to spark further gains in equities. Alcoa Inc, a Dow component, unofficially launches the earnings season with the release
Published 12 Apr, 2011 12:00am
Nikkei average slips

Nikkei average slips

Japan's Nikkei average slipped on Monday after Citigroup slashed ratings on major automakers to "sell" and was set to trade in a tight range before earnings announcements at the end of the month reveal the full impact of the earthquake that hit the countr
Published 12 Apr, 2011 12:00am
Middle East markets: Qatar index at eight-week high

Middle East markets: Qatar index at eight-week high

Qatar's index ended at an eight-week high on Monday as Industries Qatar gained on expectations of strong earnings, while Egypt's benchmark fell on investors concerns about political uncertainty. Industries Qatar rose 1.8 percent. The company is forecast t
Published 12 Apr, 2011 12:00am
UK banks told to boost capital, shield taxpayers

UK banks told to boost capital, shield taxpayers

Britain's top banks should shield retail operations from riskier investment banking activities and boost capital levels to protect taxpayers from future crises, a government-commissioned report said. Proposals outlined on Monday appear harshest for Lloyds
Published 12 Apr, 2011 12:00am
Iran plans currency reform, seeks dollar parity

Iran plans currency reform, seeks dollar parity

Iran plans to slash four zeros from its national currency in "one to two years", seeking parity between its rial and the US dollar, Central Bank Governor Mahmoud Bahmani has said. "The new rial (...) will be equal in value to one (US) dollar," the officia
Published 12 Apr, 2011 12:00am
UBS fined for misleading clients about Lehman debt

UBS fined for misleading clients about Lehman debt

UBS AG was ordered by a US regulator to pay nearly $11 million in fines and reimbursements to compensate investors it misled about the safety of debt issued by Lehman Brothers Holdings Inc before that bank went bankrupt. The Financial Industry Regulatory
Published 12 Apr, 2011 12:00am
Renault number two stands down

Renault number two stands down

Patrick Pelata quit as Renault's operations chief after the wrongful sacking of managers for alleged industrial espionage but will remain with the company, a source close to the case said Monday. The resignation came after an extraordinary board meeting a
Published 12 Apr, 2011 12:00am
BoJ says quake damage broadening as auto output falls

BoJ says quake damage broadening as auto output falls

The Bank of Japan on Monday cut its assessment for most of the country's regional economies and warned of widening damage from last month's deadly earthquake as supply problems hobble the auto industry, a key engine of growth. BoJ Governor Masaaki Shiraka
Published 12 Apr, 2011 12:00am
Karzai unveils action on troubled Kabul Bank

Karzai unveils action on troubled Kabul Bank

Afghan President Hamid Karzai on Monday announced action against bad loans and rogue shareholders in the war-torn country's troubled Kabul Bank, which came close to collapse last year. The bank had to be taken over by Afghanistan's central bank after clai
Published 12 Apr, 2011 12:00am
Australian watchdog fines JAL over cargo cartel

Australian watchdog fines JAL over cargo cartel

Australia on Monday fined Japan Airlines (JAL) Aus$5.5 million (US $5.8 million) after the carrier admitted its role in a long-running cargo cartel case involving 15 airlines. The Australian Competition and Consumer Commission (ACCC) said JAL admitted to
Published 12 Apr, 2011 12:00am
Singapore in talks to be Chinese yuan trading hub

Singapore in talks to be Chinese yuan trading hub

The central banks of Singapore and China are in talks to set the city-state up as a trading hub for the Chinese yuan, a report said Monday. The move would allow Chinese banks to do more business outside the mainland and also bolster Beijing's aim to promo
Published 12 Apr, 2011 12:00am
US Congress, Obama face new budget fights

US Congress, Obama face new budget fights

After a narrow escape from a potentially damaging government shutdown, even bigger budget fights lie ahead for President Barack Obama and leaders from both parties in the US Congress. Obama will offer a long-term plan for deficit reduction on Wednesday as
Published 12 Apr, 2011 12:00am
Gordon Brown admits 'big mistake' over banks

Gordon Brown admits 'big mistake' over banks

Britain's ex-prime minister Gordon Brown admitted Sunday that he made a "big mistake" in not seeking tighter regulations on banks in the lead up to the financial crisis. The former British leader told a conference in the US that he had not fully appreciat
Published 12 Apr, 2011 12:00am
India's industrial output growth slows

India's industrial output growth slows

India's industrial output grew at a slower-than-expected pace in February, dragged down by continued contraction in capital goods, but a hawkish central bank is still expected to tighten monetary policy as it battles stubbornly high inflation. Production
Published 12 Apr, 2011 12:00am
Outlook for industrialised nations improving: OECD

Outlook for industrialised nations improving: OECD

The growth outlook for major industrialised economies is improving with Germany and the United States leading the recovery, the OECD's leading indicator for February showed on Monday. The Paris-based Organisation for Economic Co-operation and Development
Published 12 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 242,222 tonnes of cargo including 151,157 tonnes of import cargo, 91,065 tonnes of export cargo and 5,906 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 151,157 tonnes compr
Published 12 Apr, 2011 12:00am
Bangladesh aims to triple Aus type rice output

Bangladesh aims to triple Aus type rice output

Populous Bangladesh hopes to triple its production of the Aus variety of rice to 4.5 million tonnes a year by using high-yielding seeds it has imported from Uganda, a government minister told Reuters on Monday. "We are really upbeat on the prospect of tri
Published 12 Apr, 2011 12:00am
Indonesian producer sees palm oil output up

Indonesian producer sees palm oil output up

Palm oil producer BW Plantation (BWPT) sees output climbing 10 percent to above 100,000 tonnes this year, while planting will rise at least 10,000 hectares a year, a company official said on Monday. Production in Indonesia, the world's top palm oil produc
Published 12 Apr, 2011 12:00am
USDA raises US sugar imports, prices rise

USDA raises US sugar imports, prices rise

The US Agriculture Department said on Monday it will increase sugar imports in fiscal 2011, giving the raw sugar market a mild boost as the trade mulled where the sweetener would come from. The USDA said the extra imports will offset domestic sugar cane l
Published 12 Apr, 2011 12:00am
Makai, barley prices turn lower on grain market

Makai, barley prices turn lower on grain market

Lean business was seen on the wholesale grain market on Monday as buyers were conspicuous by their absence, dealers said. On the cereal side makai was down by Rs 125 to Rs 2750-2875. Barley Sindh and Mardan followed the same pattern, losing Rs 400 to Rs 2
Published 12 Apr, 2011 12:00am
Nominal business seen on cotton market

Nominal business seen on cotton market

Subdued business was seen on the cotton market on Monday as mills did not show any interest in the fresh buying due to ginners' stern attitude toward prices, dealers said. Karachi Cotton Association (KCA) official spot rate was inert at Rs 12,500, they sa
Published 12 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up and July contract was unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The May vaida that had closed at Rs 1327.80 opened with a gain of 30 paisa at Rs 1328.10. The July contract which
Published 12 Apr, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids were steady to tighter on Monday in thin market activity as dry, windy weather conditions continued to plague the new crop. The likelihood of the drought conditions ending this week in the western and southern Plains was l
Published 12 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 12 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 12 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 Monday (April 11, 2011).

Published 12 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 Monday (April 11, 2011).

Published 12 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 Monday (April 11, 2011).

Published 12 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 Monday (April 11, 2011).

Published 12 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (April 11, 2011).
Published 12 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (April 11, 2011).

Published 12 Apr, 2011 12:00am
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