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Archive - 2011-04-17
UN chief calls for ceasefire in Libya
Top News

UN chief calls for ceasefire in Libya

BUDAPEST: UN chief Ban Ki moon on Monday called for an immediate ceasefire and a political solution to the conflict in L
Published 17 Apr, 2011 07:00pm
S&P sees 'negative' outlook for US debt
Top News

S&P sees 'negative' outlook for US debt

WASHINGTON: Ratings agency Standard & Poor's on Monday revised its outlook on US sovereign debt to "negative" from "stab
Published 17 Apr, 2011 07:00pm
Cameron ruled out ground forces in Libya
Top News

Cameron ruled out ground forces in Libya

LONDON: British Prime Minister David Cameron ruled out committing ground troops in Libya on Sunday, saying it was import
Published 17 Apr, 2011 12:12pm
Mubarak heart OK, health stable
Africa

Mubarak heart OK, health stable

CAIRO: Ousted Egyptian president Hosni Mubarak was hospitalised this week due to a drop in blood pressure, and his condi
Published 17 Apr, 2011 06:10am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (April 16, 2011) and for Sunday (April 17, 2011).
Published 17 Apr, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (April 16, 2011).

Published 17 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (April 16, 2011).

Published 17 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (April 16, 2011).

Published 17 Apr, 2011 12:00am
The Weather

The Weather

The weather report on Saturday (April 16, 2011) and the forecast for Sunday (April 17, 2011).

Published 17 Apr, 2011 12:00am
Your rupee last quarter

Your rupee last quarter

Following currency fluctuations took place in foreign exchange rates during the last quarter. (January 3 to March 31, 2011)

Published 17 Apr, 2011 12:00am
Prolonged army rule has weakened institutions: Chief Justice

Prolonged army rule has weakened institutions: Chief Justice

The Chief Justice Iftikhar Muhammad Chaudhry, has said that military was subordinate to civilian government and the Constitution does not allow them to indulge in politics. "A constitutionally elected government can only perform its functions and ensure o
Published 17 Apr, 2011 12:00am
Prolonged army rule has weakened institutions: Chief Justice

Prolonged army rule has weakened institutions: Chief Justice

The Chief Justice Iftikhar Muhammad Chaudhry, has said that military was subordinate to civilian government and the Constitution does not allow them to indulge in politics. "A constitutionally elected government can only perform its functions and ensure o
Published 17 Apr, 2011 12:00am
Ogra chief has fake degree: HEC

Ogra chief has fake degree: HEC

The Higher Education Commission (HEC) on Saturday declared LLM degree of Chairman Oil and Gas Regulatory Authority (Ogra), Tauqeer Sadiq, as fake. An employee of Ogra had filed a petition in the Islamabad High Court (IHC) claiming that Ogra chairman Tauqe
Published 17 Apr, 2011 12:00am
Ogra chief has fake degree: HEC

Ogra chief has fake degree: HEC

The Higher Education Commission (HEC) on Saturday declared LLM degree of Chairman Oil and Gas Regulatory Authority (Ogra), Tauqeer Sadiq, as fake. An employee of Ogra had filed a petition in the Islamabad High Court (IHC) claiming that Ogra chairman Tauqe
Published 17 Apr, 2011 12:00am
IMF, World Bank speak of Arab spring

IMF, World Bank speak of Arab spring

Global finance chiefs sought ways to help Arab economies flourish amid pro-democracy revolts erupting across the region as the IMF and World Bank met in Washington Saturday. While the Arab Spring that has seen dictators in Egypt and Tunisia fall since Jan
Published 17 Apr, 2011 12:00am
IMF, World Bank speak of Arab spring

IMF, World Bank speak of Arab spring

Global finance chiefs sought ways to help Arab economies flourish amid pro-democracy revolts erupting across the region as the IMF and World Bank met in Washington Saturday. While the Arab Spring that has seen dictators in Egypt and Tunisia fall since Jan
Published 17 Apr, 2011 12:00am
Syria's emergency law to end, says Assad

Syria's emergency law to end, says Assad

President Bashar al-Assad said on Saturday the emergency law in force in Syria for nearly 50 years will be abolished within a week, and expressed his sadness at the deaths of protesters. "The juridical commission on the emergency law has prepared a series
Published 17 Apr, 2011 12:00am
Syria's emergency law to end, says Assad

Syria's emergency law to end, says Assad

President Bashar al-Assad said on Saturday the emergency law in force in Syria for nearly 50 years will be abolished within a week, and expressed his sadness at the deaths of protesters. "The juridical commission on the emergency law has prepared a series
Published 17 Apr, 2011 12:00am
Arab unrest: perspectives - XIX

Arab unrest: perspectives - XIX

The following instalment of the series "Arab unrest: perspectives" has been dedicated to the fond memory of Business Recorder's senior staff member Rais Ahmad Khan who passed away at the age of 83 in Karachi in the wee hours of last Tuesday. Khan, who had
Published 17 Apr, 2011 12:00am
Arab unrest: perspectives - XIX

Arab unrest: perspectives - XIX

The following instalment of the series "Arab unrest: perspectives" has been dedicated to the fond memory of Business Recorder's senior staff member Rais Ahmad Khan who passed away at the age of 83 in Karachi in the wee hours of last Tuesday. Khan, who had
Published 17 Apr, 2011 12:00am
MoF asked to release Rs 60 billion to PSO

MoF asked to release Rs 60 billion to PSO

Ministry of Petroleum (MoP) has requested the Ministry of Finance (MoF) to immediately release Rs 60 billion to cash strapped Pakistan State Oil (PSO) to save it from default on payment to fuel suppliers, Business Recorder has learnt. Sources maint
Published 17 Apr, 2011 12:00am
MoF asked to release Rs 60 billion to PSO

MoF asked to release Rs 60 billion to PSO

Ministry of Petroleum (MoP) has requested the Ministry of Finance (MoF) to immediately release Rs 60 billion to cash strapped Pakistan State Oil (PSO) to save it from default on payment to fuel suppliers, Business Recorder has learnt. Sources maint
Published 17 Apr, 2011 12:00am
MoF asked to release Rs 60 billion to PSO

MoF asked to release Rs 60 billion to PSO

Ministry of Petroleum (MoP) has requested the Ministry of Finance (MoF) to immediately release Rs 60 billion to cash strapped Pakistan State Oil (PSO) to save it from default on payment to fuel suppliers, Business Recorder has learnt. Sources maint
Published 17 Apr, 2011 12:00am
Agility willing to resolve PaCCS issue outside court

Agility willing to resolve PaCCS issue outside court

The Kuwait based software supplier and owner of Pakistan Automated Customs Computerised System (PaCCS) has expressed its willingness to resolve its dispute with the Federal Board of Revenue (FBR) outside the arbitration process. According to a source in F
Published 17 Apr, 2011 12:00am
Agility willing to resolve PaCCS issue outside court

Agility willing to resolve PaCCS issue outside court

The Kuwait based software supplier and owner of Pakistan Automated Customs Computerised System (PaCCS) has expressed its willingness to resolve its dispute with the Federal Board of Revenue (FBR) outside the arbitration process. According to a source in F
Published 17 Apr, 2011 12:00am
Agility willing to resolve PaCCS issue outside court

Agility willing to resolve PaCCS issue outside court

The Kuwait based software supplier and owner of Pakistan Automated Customs Computerised System (PaCCS) has expressed its willingness to resolve its dispute with the Federal Board of Revenue (FBR) outside the arbitration process. According to a source in F
Published 17 Apr, 2011 12:00am
Dr Asim elected to Senate

Dr Asim elected to Senate

Dr Asim Hussain was elected senator on Saturday and is likely to be appointed as Minister for Petroleum and Natural Resources, it is learnt. Dr Asim Hussain has already held two key positions in the government: Chairman of the National Reconstruction Bure
Published 17 Apr, 2011 12:00am
Dr Asim elected to Senate

Dr Asim elected to Senate

Dr Asim Hussain was elected senator on Saturday and is likely to be appointed as Minister for Petroleum and Natural Resources, it is learnt. Dr Asim Hussain has already held two key positions in the government: Chairman of the National Reconstruction Bure
Published 17 Apr, 2011 12:00am
Dr Asim elected to Senate

Dr Asim elected to Senate

Dr Asim Hussain was elected senator on Saturday and is likely to be appointed as Minister for Petroleum and Natural Resources, it is learnt. Dr Asim Hussain has already held two key positions in the government: Chairman of the National Reconstruction Bure
Published 17 Apr, 2011 12:00am
Punjab Cabinet approves hydropower project at Taunsa

Punjab Cabinet approves hydropower project at Taunsa

The Punjab Cabinet has on Saturday approved 120 megawatts hydropower project at Taunsa and mapping of wind power potential in Punjab. Cabinet meeting presided over by Punjab Chief Minister Muhammad Shahbaz Sharif, also reviewed in detail the law and order
Published 17 Apr, 2011 12:00am
Punjab Cabinet approves hydropower project at Taunsa

Punjab Cabinet approves hydropower project at Taunsa

The Punjab Cabinet has on Saturday approved 120 megawatts hydropower project at Taunsa and mapping of wind power potential in Punjab. Cabinet meeting presided over by Punjab Chief Minister Muhammad Shahbaz Sharif, also reviewed in detail the law and order
Published 17 Apr, 2011 12:00am
Punjab Cabinet approves hydropower project at Taunsa

Punjab Cabinet approves hydropower project at Taunsa

The Punjab Cabinet has on Saturday approved 120 megawatts hydropower project at Taunsa and mapping of wind power potential in Punjab. Cabinet meeting presided over by Punjab Chief Minister Muhammad Shahbaz Sharif, also reviewed in detail the law and order
Published 17 Apr, 2011 12:00am
Pakistan, Afghanistan pursuing peace: Commission Constituted

Pakistan, Afghanistan pursuing peace: Commission Constituted

Pakistan and Afghanistan on Saturday agreed on formation of a 'joint commission' to carry forward the reconciliation process, following the withdrawal of foreign troops from the country. Prime Minister Yousuf Raza Gilani and Afghan President Hamid Karzai,
Published 17 Apr, 2011 12:00am
Pakistan, Afghanistan pursuing peace: Commission Constituted

Pakistan, Afghanistan pursuing peace: Commission Constituted

Pakistan and Afghanistan on Saturday agreed on formation of a 'joint commission' to carry forward the reconciliation process, following the withdrawal of foreign troops from the country. Prime Minister Yousuf Raza Gilani and Afghan President Hamid Karzai,
Published 17 Apr, 2011 12:00am
FBR may collect Rs 1,850 billion revenue in 2011-12

FBR may collect Rs 1,850 billion revenue in 2011-12

The Federal Board of Revenue (FBR) is likely to collect revenue between Rs 1,800 billion and Rs 1,850 billion during 2011-12 as new taxation measures will be taken in the coming budget for next fiscal year. It is learnt that a member of the Revenue Adviso
Published 17 Apr, 2011 12:00am
FBR may collect Rs 1,850 billion revenue in 2011-12

FBR may collect Rs 1,850 billion revenue in 2011-12

The Federal Board of Revenue (FBR) is likely to collect revenue between Rs 1,800 billion and Rs 1,850 billion during 2011-12 as new taxation measures will be taken in the coming budget for next fiscal year. It is learnt that a member of the Revenue Adviso
Published 17 Apr, 2011 12:00am
FBR may collect Rs 1,850 billion revenue in 2011-12

FBR may collect Rs 1,850 billion revenue in 2011-12

The Federal Board of Revenue (FBR) is likely to collect revenue between Rs 1,800 billion and Rs 1,850 billion during 2011-12 as new taxation measures will be taken in the coming budget for next fiscal year. It is learnt that a member of the Revenue Adviso
Published 17 Apr, 2011 12:00am
Urea prices raised by Rs 100 per bag

Urea prices raised by Rs 100 per bag

Prices of urea were increased by Rs 100 per bag on Saturday, taking the price of 50-kg bag from Rs 1150 to Rs 1250. Urea prices have registered an increase of 48 percent during last four months. At the beginning of December 2010, its price stood at around
Published 17 Apr, 2011 12:00am
Urea prices raised by Rs 100 per bag

Urea prices raised by Rs 100 per bag

Prices of urea were increased by Rs 100 per bag on Saturday, taking the price of 50-kg bag from Rs 1150 to Rs 1250. Urea prices have registered an increase of 48 percent during last four months. At the beginning of December 2010, its price stood at around
Published 17 Apr, 2011 12:00am
Urea prices raised by Rs 100 per bag

Urea prices raised by Rs 100 per bag

Prices of urea were increased by Rs 100 per bag on Saturday, taking the price of 50-kg bag from Rs 1150 to Rs 1250. Urea prices have registered an increase of 48 percent during last four months. At the beginning of December 2010, its price stood at around
Published 17 Apr, 2011 12:00am
NICL scam: Manzoor replaces Zafar as IO

NICL scam: Manzoor replaces Zafar as IO

The Federal Investigation Agency (FIA) has removed the agency's additional director general Zafar Qureshi from the National Insurance Company Limited (NICL) scam probe, a private TV channel reported on Saturday. Zafar Qureshi was the investigation officer
Published 17 Apr, 2011 12:00am
Chandio called back for taking oath: Judicial Commission meeting delayed

Chandio called back for taking oath: Judicial Commission meeting delayed

The meeting of the Judicial Commission was delayed as the newly nominated Law Minister Maula Bux Chandio came to attend the meeting without taking oath.The commission, which was scheduled to discuss the issue of additional judges of Lahore and Balochistan
Published 17 Apr, 2011 12:00am
Chandio called back for taking oath: Judicial Commission meeting delayed

Chandio called back for taking oath: Judicial Commission meeting delayed

The meeting of the Judicial Commission was delayed as the newly nominated Law Minister Maula Bux Chandio came to attend the meeting without taking oath.The commission, which was scheduled to discuss the issue of additional judges of Lahore and Balochistan
Published 17 Apr, 2011 12:00am
Pakistan, China agree to strengthen economic ties

Pakistan, China agree to strengthen economic ties

Pakistani and Chinese finance ministers have reaffirmed their countries' resolve to further expand and strengthen bilateral economic and trade ties and co-ordinate closely on policies on financial institutions. Finance Minister, Dr Abdul Hafeez Shaikh and
Published 17 Apr, 2011 12:00am
Pakistan, China agree to strengthen economic ties

Pakistan, China agree to strengthen economic ties

Pakistani and Chinese finance ministers have reaffirmed their countries' resolve to further expand and strengthen bilateral economic and trade ties and co-ordinate closely on policies on financial institutions. Finance Minister, Dr Abdul Hafeez Shaikh and
Published 17 Apr, 2011 12:00am
Pakistan, China agree to strengthen economic ties

Pakistan, China agree to strengthen economic ties

Pakistani and Chinese finance ministers have reaffirmed their countries'' resolve to further expand and strengthen bilateral economic and trade ties and co-ordinate closely on policies on financial institutions. Finance Minister, Dr Abdul Hafeez Shaikh an
Published 17 Apr, 2011 12:00am
Naveed to lead Pakistani delegation at Asian oil ministers' moot

Naveed to lead Pakistani delegation at Asian oil ministers' moot

A three-day Asian ministers of oil and energy roundtable meeting has been called to discuss the trajectory of oil prices and ways of co-operation, which will be held in Kuwait on April 18. The meeting is the fourth for the ministers of oil and energy in A
Published 17 Apr, 2011 12:00am
Naveed to lead Pakistani delegation at Asian oil ministers' moot

Naveed to lead Pakistani delegation at Asian oil ministers' moot

A three-day Asian ministers of oil and energy roundtable meeting has been called to discuss the trajectory of oil prices and ways of co-operation, which will be held in Kuwait on April 18. The meeting is the fourth for the ministers of oil and energy in A
Published 17 Apr, 2011 12:00am
Naveed to lead Pakistani delegation at Asian oil ministers'' moot

Naveed to lead Pakistani delegation at Asian oil ministers'' moot

A three-day Asian ministers of oil and energy roundtable meeting has been called to discuss the trajectory of oil prices and ways of co-operation, which will be held in Kuwait on April 18. The meeting is the fourth for the ministers of oil and energy in A
Published 17 Apr, 2011 12:00am
Traders list factors behind their woes

Traders list factors behind their woes

The quick broadcast of news about any violence, target killings and the worst loadshedding are badly affecting trade activities in Karachi, traders say. Traders estimate some 40 percent decline alone in trade activities and the cottage industry's producti
Published 17 Apr, 2011 12:00am
Traders list factors behind their woes

Traders list factors behind their woes

The quick broadcast of news about any violence, target killings and the worst loadshedding are badly affecting trade activities in Karachi, traders say. Traders estimate some 40 percent decline alone in trade activities and the cottage industry's producti
Published 17 Apr, 2011 12:00am
Traders list factors behind their woes

Traders list factors behind their woes

The quick broadcast of news about any violence, target killings and the worst loadshedding are badly affecting trade activities in Karachi, traders say. Traders estimate some 40 percent decline alone in trade activities and the cottage industry''s product
Published 17 Apr, 2011 12:00am
Political activists among seven fall prey to targeted killings

Political activists among seven fall prey to targeted killings

Seven more people including activists of MQM, ANP, MQM-H and two cops fell prey to the ongoing spate of targeted killing in various parts of metropolis here on Saturday. According to details, Malik Ayub, 37, an activist of MQM, was gunned down while anoth
Published 17 Apr, 2011 12:00am
Political activists among seven fall prey to targeted killings

Political activists among seven fall prey to targeted killings

Seven more people including activists of MQM, ANP, MQM-H and two cops fell prey to the ongoing spate of targeted killing in various parts of metropolis here on Saturday. According to details, Malik Ayub, 37, an activist of MQM, was gunned down while anoth
Published 17 Apr, 2011 12:00am
Weekly inflation increases by 0.25 percent

Weekly inflation increases by 0.25 percent

The Sensitive Price Indicator (SPI), for the week ended on April 14 for the lowest income group up to Rs 3,000, has registered increase of 0.25 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at
Published 17 Apr, 2011 12:00am
Weekly inflation increases by 0.25 percent

Weekly inflation increases by 0.25 percent

The Sensitive Price Indicator (SPI), for the week ended on April 14 for the lowest income group up to Rs 3,000, has registered increase of 0.25 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at
Published 17 Apr, 2011 12:00am
Weekly inflation increases by 0.25 percent

Weekly inflation increases by 0.25 percent

The Sensitive Price Indicator (SPI), for the week ended on April 14 for the lowest income group up to Rs 3,000, has registered increase of 0.25 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at
Published 17 Apr, 2011 12:00am
Senate panel advises auction of seized liquor

Senate panel advises auction of seized liquor

The Senate Standing Committee on Interior on Saturday floated the idea of generating additional revenue through auction of confiscated liquor by Frontier Corps (FC) instead of current practice of destroying it. The suggestion was given by a lady member of
Published 17 Apr, 2011 12:00am
Senate panel advises auction of seized liquor

Senate panel advises auction of seized liquor

The Senate Standing Committee on Interior on Saturday floated the idea of generating additional revenue through auction of confiscated liquor by Frontier Corps (FC) instead of current practice of destroying it. The suggestion was given by a lady member of
Published 17 Apr, 2011 12:00am
Britain mulls royal succession change as wedding nears

Britain mulls royal succession change as wedding nears

Britain said Saturday it was mulling changes to rules governing the line of succession, meaning Prince William and Kate Middleton's first born could accede to the throne whether it was a boy or girl. Currently the principle of male primogeniture means tha
Published 17 Apr, 2011 12:00am
Britain mulls royal succession change as wedding nears

Britain mulls royal succession change as wedding nears

Britain said Saturday it was mulling changes to rules governing the line of succession, meaning Prince William and Kate Middleton's first born could accede to the throne whether it was a boy or girl. Currently the principle of male primogeniture means tha
Published 17 Apr, 2011 12:00am
Berlusconi says he'll live to 120, won't quit

Berlusconi says he'll live to 120, won't quit

Italian Premier Silvio Berlusconi is vowing not to quit, as long as he's needed. And he predicts he'll be around for a long time, saying he'll live to 120. The 74-year-old conservative leader at a political rally in Rome Saturday was having fun boasting a
Published 17 Apr, 2011 12:00am
Berlusconi says he'll live to 120, won't quit

Berlusconi says he'll live to 120, won't quit

Italian Premier Silvio Berlusconi is vowing not to quit, as long as he's needed. And he predicts he'll be around for a long time, saying he'll live to 120. The 74-year-old conservative leader at a political rally in Rome Saturday was having fun boasting a
Published 17 Apr, 2011 12:00am
Suicide attack kills five foreign soldiers in Afghanistan

Suicide attack kills five foreign soldiers in Afghanistan

A suicide bomber in an Afghan army uniform killed five foreign and four Afghan soldiers on Saturday at a sprawling desert base in the east of the country, the highest toll on Nato-led troops in a single attack for several months. Afghanistan's Ministry of
Published 17 Apr, 2011 12:00am
Suicide attack kills five foreign soldiers in Afghanistan

Suicide attack kills five foreign soldiers in Afghanistan

A suicide bomber in an Afghan army uniform killed five foreign and four Afghan soldiers on Saturday at a sprawling desert base in the east of the country, the highest toll on Nato-led troops in a single attack for several months. Afghanistan's Ministry of
Published 17 Apr, 2011 12:00am
Gas pipeline blown up in Dera Bugti

Gas pipeline blown up in Dera Bugti

Gas supply to a purification plant was suspended after unknown miscreants blew up a pipeline in Dera Bugti, local police officials said on Saturday. According to reports, the miscreants blew up a 24-inch diameter pipeline supplying gas to a purification p
Published 17 Apr, 2011 12:00am
Nato oil tanker set on fire

Nato oil tanker set on fire

Unidentified persons set on fire an oil tanker supplying fuel to Nato forces in Afghanistan, on Saturday. According to the Levies officials, unidentified persons set fire to the tanker when the driver parked it beside the road and went away. The fire full
Published 17 Apr, 2011 12:00am
President ICCI visits Farooqia market

President ICCI visits Farooqia market

Mahfooz Elahi, President Islamabad Chamber of Commerce & Industry (ICCI) visited the Farooqia market along with Imtiaz Inayat Chairman CDA. Mahfooz Elahi appreciated the visit of Imtiaz Inayat Elahi and said that the markets have been operated under tradi
Published 17 Apr, 2011 12:00am
Indonesian Cultural: Troupe enthrals audiences

Indonesian Cultural: Troupe enthrals audiences

The Indonesian Cultural Troupe made a spellbinding singings and dances performances at the National Art Gallery on Saturday. The performance was a yet another event of the series that features the multifaceted Indonesian Cultural Week being organised in c
Published 17 Apr, 2011 12:00am
Nawaz Sharif's aunt dies

Nawaz Sharif's aunt dies

Aunt of Quaid Pakistan Muslim League-N Mian Muhammad Nawaz Sharif and Chief Minister Punjab Muhammad Shahbaz Sharif, mother of Yahya Siraj and Farrukh Siraj died Saturday. Her Namaz-e-Janaza was offered at Ittefaq mosque, Model Town. Chief Minister Punjab
Published 17 Apr, 2011 12:00am
Pakistani CG visits Aafia in Texas

Pakistani CG visits Aafia in Texas

On the instructions of ambassador to the United States Husain Haqqani, Pakistani consul general in Houston Aqil Nadeem visited scientist Dr Aafia Siddiqui in Carswell detention facility in Texas on Friday. In a two-hour meeting, Ms Siddiqui informed the c
Published 17 Apr, 2011 12:00am
Musharraf's video address today

Musharraf's video address today

Former president Pervez Musharraf will address supporters of his newly-formed APML through a video conference in Lahore on Sunday. While announcing about the video address, All Pakistan Muslim League (APML) leader Fawad Chaudhry has said that the April 17
Published 17 Apr, 2011 12:00am
Bhutto laid foundation of atomic Pakistan: Dr Qadeer

Bhutto laid foundation of atomic Pakistan: Dr Qadeer

Top scientist, Dr Abdul Qadeer Khan has said that former Prime Minister, Zulfiqar Ali Bhutto Shaheed laid the foundation of the nuclear programme of Pakistan and made the country an atomic power. He expressed these views while inaugurating newly construct
Published 17 Apr, 2011 12:00am
15 gangs of dacoits, house grabbers busted

15 gangs of dacoits, house grabbers busted

The new security and crime control plan of the Islamabad Police have started yielding fruits as Capital Police have busted 15 gangs of dacoits and land and house grabbers, while drug pushers and bootleggers were also taken to task. However, the increasing
Published 17 Apr, 2011 12:00am
Petroleum ministry, CNG owners' meeting on April 22

Petroleum ministry, CNG owners' meeting on April 22

The Ministry of Petroleum officials will hold meeting with All Pakistan CNG Owners Association on April 22, to resolve the problem confronting the CNG industry particularly gas loadshedding to the industry. This was stated by the chairman and president, A
Published 17 Apr, 2011 12:00am
SAP pledges 15 million cotton bales target

SAP pledges 15 million cotton bales target

Seed Association of Pakistan (SAP) has pledged to work hand in hand with the government for achieving 15 million cotton bales target for 2011-12 crop season. The assurance was given by SAP Executive Committee that met here Saturday. The meeting was chaire
Published 17 Apr, 2011 12:00am
Government plans to set up media university: Firdous

Government plans to set up media university: Firdous

The government is planning to set up a media university in next financial year, Firdous Ashiq Awan, Federal Minister for Information said during Women Journalists Convention, held here on Saturday. She said women face sexual harassment at their work place
Published 17 Apr, 2011 12:00am
Rs 607 million allocated for roads' improvement

Rs 607 million allocated for roads' improvement

Capital Development Authority (CDA) has allocated rupees 607 million for carpeting city roads, their patch work and repairing, improvement of sewerage system and provision of other facilities in the markets of federal capital.
Published 17 Apr, 2011 12:00am
'Looted wealth to be brought back to Pakistan'

'Looted wealth to be brought back to Pakistan'

Makhdoom Javed Hashmi, MNA and a leader of Pakistan Muslim League Nawaz (PML-N) has said corrupt politicians would be hanged publicly and looted wealth would be brought back to Pakistan. Speaking at a big public meeting in Samorana, a suburb of Multan her
Published 17 Apr, 2011 12:00am
Zehri reviews wheat procurement drive

Zehri reviews wheat procurement drive

Federal Minister for Food & Agriculture, Mir Israrullah Zehri visited the headquarters of the Pakistan Agricultural Storage and Services Corporation (Passco), here on Saturday. The minister was briefed by the Managing Director Passco Major General Sohail
Published 17 Apr, 2011 12:00am
LHC orders probe into allegations about embassy land sale

LHC orders probe into allegations about embassy land sale

Lahore High Court Chief justice Ijaz Ahmad Chaudhry on Friday ordered National Accountability Bureau Punjab to hold a probe into allegations of kickbacks in selling embassy land in Japan and Indonesia in 2002. The chief justice also directed to file a ref
Published 17 Apr, 2011 12:00am
Pacra maintains AHI entity ratings

Pacra maintains AHI entity ratings

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Arif Habib Investments Limited (AHI) at 'A' (single A) and 'Al' (A one) respectively. These ratings denote a low expectation of credit risk emanating f
Published 17 Apr, 2011 12:00am
Pacra maintains AHI entity ratings

Pacra maintains AHI entity ratings

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Arif Habib Investments Limited (AHI) at 'A' (single A) and 'Al' (A one) respectively. These ratings denote a low expectation of credit risk emanating f
Published 17 Apr, 2011 12:00am
Majority of water samples found unfit: report

Majority of water samples found unfit: report

Majority of the samples collected and analysed was found to be unfit for drinking purpose in all four provinces of Pakistan without any exception. In Balochistan, 100 percent of water was found unfit for drinking as the microbiological contamination in mo
Published 17 Apr, 2011 12:00am
Management Quality Rating of Al-Meezan Investment reaffirmed

Management Quality Rating of Al-Meezan Investment reaffirmed

JCR-VIS Credit Rating Company Limited has reaffirmed the Management Quality Rating of Al-Meezan Investment Management Limited (AMIM) at 'AM2' (AM-Two). Outlook on the rating is 'Stable'. AMIM has eight funds under management, including two closed end sche
Published 17 Apr, 2011 12:00am
Management Quality Rating of Al-Meezan Investment reaffirmed

Management Quality Rating of Al-Meezan Investment reaffirmed

JCR-VIS Credit Rating Company Limited has reaffirmed the Management Quality Rating of Al-Meezan Investment Management Limited (AMIM) at 'AM2' (AM-Two). Outlook on the rating is 'Stable'. AMIM has eight funds under management, including two closed end sche
Published 17 Apr, 2011 12:00am
Depleting water resources: call to build dams on a fast-track basis

Depleting water resources: call to build dams on a fast-track basis

In order to ensure water supply to urban areas, 100 percent metering is unavoidable. It should at-least be accomplished in towns, cities and big cities. Revision of water tariff to cover cost of capital works (including 100 percent metering) and operation
Published 17 Apr, 2011 12:00am
Dr Nabi Bakhsh's services eulogised

Dr Nabi Bakhsh's services eulogised

At a national-level condolence reference on Dr Nabi Bakhsh Baloch, organised by Pakistan Institute of National Affairs (Pina) in Lahore, speakers eulogised him as one of the greatest scholars, education researcher and living spirit of Pakistani unity.
Published 17 Apr, 2011 12:00am
Industrialists concerned at proposed two weekly holidays

Industrialists concerned at proposed two weekly holidays

Industrialists and traders have expressed serious concern over government's proposal to observe two weekly holidays in government offices and added that it would create negative impact on economic activities in the country.
Published 17 Apr, 2011 12:00am
Gilani praises role of Rabbani

Gilani praises role of Rabbani

Prime Minister Yousuf Raza Gilani said here on Saturday that Afghanistan's reconciliation and reintegration efforts with its local factions and groups would lead to the emergence of a sustainable political setup. Talking to the Chairman of Afghan High Pea
Published 17 Apr, 2011 12:00am
Census deadline likely to be extended

Census deadline likely to be extended

Date for listing of houses in the province during the ongoing census is likely to be extended by 7 to 10 days. A meeting, presided by Sindh Chief Secretary Abdul Subhan Memon, on Saturday deliberated the issue and problems in this regard and reviewed the
Published 17 Apr, 2011 12:00am
Textile Asia fair launched

Textile Asia fair launched

Clothing, Fabrics & Textile Asia launched in the inauguration ceremony of 8th Textile Asia Int'l Exhibition by Dr Mirza Ikhtiar Baig, Federal Advisor on Textiles - Ministry of Textile Industry and Tariq Iqbal Puri, CE TDAP. The industry's boosting feedbac
Published 17 Apr, 2011 12:00am
Mega uplift schemes in Peshawar under way: Hoti

Mega uplift schemes in Peshawar under way: Hoti

Chief Minister, Khyber Pakhtunkhwa, Ameer Haider Khan Hoti on Saturday said work on rupees five billion mega development schemes in Peshawar are in progress while Rs 21 billion would be spent on the projects to be initiated soon. This he stated while addr
Published 17 Apr, 2011 12:00am
Zardari, Gilani condole Babbu Baral's death

Zardari, Gilani condole Babbu Baral's death

President Asif Ali Zardari on Saturday expressed his deep sorrow and grief over the death of renowned stage actor and comedian Babbu Baral who died in Lahore on Friday. The President in a message to the family expressed his heartfelt grievances over his s
Published 17 Apr, 2011 12:00am
'Hospitals in remote areas being upgraded'

'Hospitals in remote areas being upgraded'

Secretary Health Punjab Fawad Hassan Fawad has said the small hospitals in the remote areas are being upgraded to provide modern health facilities to the people at local level. He was presiding over a meeting to review on-going development programmes here
Published 17 Apr, 2011 12:00am
CJ Lahore constitutes 6 DBs, 12 SBs

CJ Lahore constitutes 6 DBs, 12 SBs

Chief Justice Lahore High Court Ijaz Ahmad Chaudhry here Saturday constituted 6 division benches (DBs) and 12 single benches (SBs) for the disposal of the cases pending at the principal seat for the week commencing from April 18.
Published 17 Apr, 2011 12:00am
PDA, YDA join hands against government's proposed discriminatory HPCSP

PDA, YDA join hands against government's proposed discriminatory HPCSP

Pakistan Dental Association (PDA) and Young Doctor Association (YDA) of federal capital have once again joined hands against the government discriminatory proposed Health Professional Career Structure Policy (HPCSP). A summary has been sent to the Prime M
Published 17 Apr, 2011 12:00am
Warraich criticises chief minister Punjab

Warraich criticises chief minister Punjab

President Pakistan People's Party (PPP) Punjab Imtiaz Safdar Warraich has criticised Chief Minister Punjab for his statement on drone attacks. He said the office of Chief Minister has nothing to do with the drone attacks. According to him, the Pakistan Mu
Published 17 Apr, 2011 12:00am
SECP frames three-year 'Strategic Objectives', sets targets for 2011-12

SECP frames three-year 'Strategic Objectives', sets targets for 2011-12

The Securities and Exchange Commission of Pakistan (SECP) organised a three-day off-site program to frame its three-year 'Strategic Objectives', set annual targets for the year 2011-12 for the Commission and every department, outline values and competenci
Published 17 Apr, 2011 12:00am
Students urged to take part in save energy campaign

Students urged to take part in save energy campaign

Chairman, Faisalabad Electric Supply Company (FESCO), BOD Nadeem Aftab Sindhu has said energy is engine of economic growth and people must save energy for the industrial sector. He was addressing a painting competition and seminar on Save Energy at Nusrat
Published 17 Apr, 2011 12:00am
Dr Abdul Basit's services eulogised

Dr Abdul Basit's services eulogised

Principal Post Graduate Medical Institute (PGMI) Professor Dr Tariq Sallahudin has lauded the services of Dr Abdul Basit in the field of health department. While addressing a farewell party hosted at Lahore General Hospital here, on Saturday, to honour Dr
Published 17 Apr, 2011 12:00am
Dr Zahoor Awan: condolence reference today

Dr Zahoor Awan: condolence reference today

Gandhara Hindko Board, a literary, cultural and social welfare organisation will hold a condolence reference on noted writer, academician, research scholar and columnist late Professor Dr Zahoor Ahmad Awan on Sunday, April 17.
Published 17 Apr, 2011 12:00am
Pak-Iran trade gate reopened

Pak-Iran trade gate reopened

Zero point, a trade gate between Pakistan and Iran has been reopened on Saturday, official sources confirmed. According to the local administration, the trade activities has resumed between Iran and Pakistan after the Iranian border authorities reopened z
Published 17 Apr, 2011 12:00am
Senior Citizens Foundation meeting today

Senior Citizens Foundation meeting today

To devise and discuss strategy to push the government to take up Senior Citizens Welfare Bill, Senior Citizens Foundation of Pakistan, DHA and Cantonment Chapter, Lahore, will hold its annual general meeting on April 17 (today).
Published 17 Apr, 2011 12:00am
Vegetable prices fall on increased supply

Vegetable prices fall on increased supply

Prices of most of the vegetables registered a decrease due to abundant supply during the week past as opposed to a week ago, a survey carried out by Business Recorder showed. The week proved good for common people, because fruit and vegetable price
Published 17 Apr, 2011 12:00am
Capital police foil dacoity bid, arrest two

Capital police foil dacoity bid, arrest two

Islamabad Police foiled a dacoity bid by arresting two dacoits red handed, besides arresting six outlaws and three beggars from different areas of the city. Margallah Police arrested two dacoits red handed when they were trying to flee after committing da
Published 17 Apr, 2011 12:00am
'Safe City Project': CCPO inaugurates six new CCTV cameras

'Safe City Project': CCPO inaugurates six new CCTV cameras

In order to ensure a safer city Under "Safe City Project", Capital City Police Officer, Muhammad Aslam Tareen inaugurated six new closed-circuit television (CCTV) cameras at Ravi Bridge Shahdara here Saturday. DIG Operations, Rao Sardar Ali, SSP Operation
Published 17 Apr, 2011 12:00am
Delay in implementation of ECC decisions

Delay in implementation of ECC decisions

According to newspaper reports, the Federal Finance Minister Dr Hafeez Sheikh expressed serious concerns over the non-implementation of decisions taken by the Economic Co-ordination Committee (ECC), the highest economic decision-making body in the country
Published 17 Apr, 2011 12:00am
Respite for the HEC

Respite for the HEC

The Supreme Court has ruled that the Higher Education Commission (HEC) would continue to function and discharge its duties and responsibilities till the government brings about a legislation required under the 18th Constitutional Amendment.
Published 17 Apr, 2011 12:00am
Corporate culture in banks

Corporate culture in banks

"A company's culture is often buried so deeply inside rituals, assumptions, attitudes, and values that it becomes transparent to an organisation's members only when, for some reason, it changes." (Rob Goffee). "A company needs smart young men with the ima
Published 17 Apr, 2011 12:00am
Want to save fuel? Go fly a kite

Want to save fuel? Go fly a kite

The blue-hulled vessel would slip by unnoticed on most seas if not for the white kite, high above her prow, towing her to what its creators hope will be a bright, wind-efficient future. The enormous kite, which looks like a paraglider, works in tandem wit
Published 17 Apr, 2011 12:00am
Georgia builds 'tourist paradise' near conflict zone

Georgia builds 'tourist paradise' near conflict zone

The roar of machinery mingles with the cries of gulls hovering over the beach as swarms of construction workers build a huge new tourist resort - on the edge of a conflict zone.
Published 17 Apr, 2011 12:00am
They must not be allowed to succeed!

They must not be allowed to succeed!

A lot is being opined and said, in the media, over the ongoing bloody protests and legitimate struggle of the people of Middle East and North Africa, for democracy.
Published 17 Apr, 2011 12:00am
Drone strikes

Drone strikes

According to the Human Rights Commission Pakistan (HRCP) report, 957 people have so far lost their lives in the CIA-sponsored US drone strikes. Non-governmental statistics must be higher. Enough is enough. It is high time that these attacks are stopped wi
Published 17 Apr, 2011 12:00am
Court dissolves Mubarak's party

Court dissolves Mubarak's party

An Egyptian court on Saturday ordered the dissolution of former President Hosni Mubarak's political party, meeting a demand of the pro-democracy movement whose protests ended his 30-year authoritarian rule.
Published 17 Apr, 2011 12:00am
UAE to curb BlackBerry usage for individuals

UAE to curb BlackBerry usage for individuals

The United Arab Emirates will stop individuals and small businesses accessing the most private data services offered by BlackBerry, a newspaper said, but email and web access will not be disrupted, said the government.
Published 17 Apr, 2011 12:00am
Burkina Faso traders riot over army looting

Burkina Faso traders riot over army looting

Hundreds of traders rioted and set fire to the headquarters of Burkina Faso's ruling party on Saturday, protesting after mutinous soldiers looted their shops. Merchants ransacked the National Assembly, the Trade Ministry and other public buildings in the
Published 17 Apr, 2011 12:00am
Croatian war veterans stage protests

Croatian war veterans stage protests

Tens of thousands of people protested in Croatia Saturday, a day after a UN court handed down heavy war crimes sentences for two ex-generals, seen by many Croats as heroes. On the central square in a rainy Zagreb an estimated 30,000 protesters gathered at
Published 17 Apr, 2011 12:00am
US arms costs up 4 percent versus prior estimates

US arms costs up 4 percent versus prior estimates

The total projected cost of 95 major US arms programs had risen 4 percent, or about $64 billion, from previous estimates as of the end of last year, the US Defence Department told Congress Friday even as President Barack Obama seeks a tighter Pentagon bud
Published 17 Apr, 2011 12:00am
Hamas trades blame with Abbas on reconciliation

Hamas trades blame with Abbas on reconciliation

Hamas on Saturday rejected accusations by president Mahmud Abbas that it was blocking Palestinian reconciliation efforts with support from Iran. "The accusations made Abbas that Hamas receives Iranian instructions to block (inter-Palestinian) reconciliati
Published 17 Apr, 2011 12:00am
Cuba marks 50 years of socialism

Cuba marks 50 years of socialism

Thousands of Cubans joined a huge military parade Saturday marking 50 years of socialism and defeat of the CIA-backed Bay of Pigs invasion, hours ahead of a crucial Communist Party Congress setting new political and economic goals.
Published 17 Apr, 2011 12:00am
Swedish king makes first visit to Afghanistan

Swedish king makes first visit to Afghanistan

Swedish King Carl XVI Gustaf has left Afghanistan after paying a secret first visit to troops from his country serving there. Wearing a military uniform and dark beret, the king said he was impressed by the soldiers' dedication in difficult circumstances
Published 17 Apr, 2011 12:00am
Nigeria bids for history in presidential election

Nigeria bids for history in presidential election

Nigerians voted in large numbers Saturday in a crucial presidential election as Africa's most populous nation sought to make history by holding its cleanest polls for head of state in nearly two decades. Voting was generally calm in most of the country, t
Published 17 Apr, 2011 12:00am
Thousands of Yemeni women protest over Saleh remarks

Thousands of Yemeni women protest over Saleh remarks

Thousands of Yemeni women protested in Sanaa and other cities on Saturday, enraged by President Ali Abdullah Saleh's remarks it was against Islam for women to join men in the demonstrations aimed at toppling him. The women, many clad in black Islamic dres
Published 17 Apr, 2011 12:00am
Child born after mother given ovary from twin

Child born after mother given ovary from twin

A woman suffering a chromosome disorder has given birth to a healthy daughter thanks to an ovarian transplant from her sister in a world first, doctors said Saturday.
Published 17 Apr, 2011 12:00am
Tornadoes, storms kill 16 across US South

Tornadoes, storms kill 16 across US South

Seven people were killed by storms in Alabama on Friday, bringing the total dead from a string of violent storms and tornadoes across the southern United States to at least 16, officials said on Saturday. Seven people, including three children, were kille
Published 17 Apr, 2011 12:00am
Sobers pays visit to training camp

Sobers pays visit to training camp

West Indies had a special visitor to their training camp when the legendary Sir Garfield Sobers attended a practice session at the Three Ws Oval here. Sir Garfield, widely regarded as the greatest all-rounder of all-time, was invited by West Indies coach
Published 17 Apr, 2011 12:00am
Illness forces change to West Indies squad

Illness forces change to West Indies squad

An illness to rookie wicketkeeper/batsman Devon Thomas has prompted West Indies to make a change to their squad for the first two One-day Internationals against Pakistan. The West Indies Cricket Board announced on Saturday that the 21-year-old Thomas, who
Published 17 Apr, 2011 12:00am
Chelsea close on Arsenal with win at West Brom

Chelsea close on Arsenal with win at West Brom

Didier Drogba was on target again as Chelsea, the only top-six team in Premier League action on Saturday, chalked up their 11th successive league win over West Bromwich Albion with a 3-1 triumph at the Hawthorns. Peter Odemwingie had West Brom ahead after
Published 17 Apr, 2011 12:00am
Hussey stars in Chennai victory

Hussey stars in Chennai victory

Michael Hussey cracked an unbeaten 83 off 56 balls to set up Chennai Super Kings' 21-run victory over Royal Challengers Bangalore in the Indian Premier League (IPL) on Saturday. The Australian hit one six and 11 fours as Chennai made 183-5 before restrict
Published 17 Apr, 2011 12:00am
Nadal, Ferrer reach Monte Carlo final

Nadal, Ferrer reach Monte Carlo final

Spaniards Rafa Nadal and David Ferrer will lock horns again in the Monte Carlo Masters final after the claycourt conquistadors sealed contrasting victories in their semi-finals on Saturday. World number one Nadal, who lost to Ferrer at the Australian Open
Published 17 Apr, 2011 12:00am
Experts express concern over corruption in education sector

Experts express concern over corruption in education sector

Issues affecting the education sector and to develop strategies to eradicate them were discussed at a seminar on "Measures to eradicate corruption in the education sector" held at a local hotel here on Thursday. About 100 persons from education sector, me
Published 17 Apr, 2011 12:00am
22 Indian fishermen held

22 Indian fishermen held

Maritime Security Agency on Saturday confiscated seven boats and detained 22 Indian fishermen violating country's marine limits. According to MSA, Indian fishermen busy in fishing in Pakistan's marine border were arrested over the violation of limits of t
Published 17 Apr, 2011 12:00am
Police arrest alleged target killers

Police arrest alleged target killers

Sindh police have arrested two alleged target killers at Moosa Colony Gulberg and seized huge cache of weapons. According to the source, police on a tip-off conducted a raid at Moosa Colony F.B Area and arrested two persons namely Abdul Jabbar and Ayaz an
Published 17 Apr, 2011 12:00am
International textile, garment machinery show commences

International textile, garment machinery show commences

Three-day International Textile & Garment Machinery show started at Expo Center, here on Saturday. The exhibition was inaugurated by Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, Ministry of Textile Industry while Senator Ghulam Ali, President FPCCI;
Published 17 Apr, 2011 12:00am
HP announces new application transformation

HP announces new application transformation

HP on Saturday announced new application transformation offerings designed to help enterprises drive innovation by delivering application flexibility and speed. In today's world of instant gratification, everyone expects secure, seamless access to informa
Published 17 Apr, 2011 12:00am
13 students hurt in clash

13 students hurt in clash

At least 13 students were injured in a clash between two student organisations at Dawood Engineering College within the limits of Jamsheed Quarter police station. The activists of Jiye Sindh Student Federation (JSSF) scuffled with the workers of Islami Ja
Published 17 Apr, 2011 12:00am
Entity ratings of Hub Power maintained at AA+, Al+

Entity ratings of Hub Power maintained at AA+, Al+

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term entity rating of 'AA+' (Double A plus) and short-term rating of 'Al+' (A one plus) of Hub Power Company Limited. These ratings denote a very low expectation of credit risk emanating fr
Published 17 Apr, 2011 12:00am
Two kidnapped brothers recovered from Hub

Two kidnapped brothers recovered from Hub

Citizen Police Licence Committee (CPLC) and Anti Violence Crime Cell (AVCC) on Saturday claimed to have recovered two abductees from Hub, Balochistan. According to the detail, both brothers namely Zubair and Uzair sons of Abdul Khaliq, were kidnapped on A
Published 17 Apr, 2011 12:00am
Two killed in bike-truck collision

Two killed in bike-truck collision

Two persons were killed as a motorbike collides with water tanker on Saturday in the limits of Korangi Industrial Area police station. The tragic incident took place on the wee hours of Saturday morning at Brookes roundabout where two friends namely Noor
Published 17 Apr, 2011 12:00am
Gold hits another record highs; oil, metals drop

Gold hits another record highs; oil, metals drop

Gold prices hit record highs close to $1,500 this week while oil and base metals fell on expectations that rising global inflation risks will lead to higher interest rates and slower growth.
Published 17 Apr, 2011 12:00am
Indonesia coffee beans offered at premium since mid-2010

Indonesia coffee beans offered at premium since mid-2010

Indonesian robusta coffee beans were offered at a premium to London futures this week for the first time since June 2010 because of tight supply after rain damaged coffee cherries early this year, traders said on Friday.
Published 17 Apr, 2011 12:00am
French office sees wheat exports score new record

French office sees wheat exports score new record

Farm office FranceAgriMer on Wednesday raised its monthly forecast for France's soft wheat exports outside the European Union this season for the sixth time in a row to a new record of 12.75 million tonnes. The revision, linked to the fast rhythm of expor
Published 17 Apr, 2011 12:00am
Colombia coffee exports soar

Colombia coffee exports soar

Colombia's coffee exports soared 53 percent to 884,000 60-kg bags in March while output rose 24 percent to 779,000 sacks versus the same month last year, the nation's coffee federation said on Wednesday. Colombia, the world's top producer of high-quality
Published 17 Apr, 2011 12:00am
India's top state set to miss sugar output target

India's top state set to miss sugar output target

Sugar output from India's biggest cane growing state is likely to be lower than a targeted 6 million tonnes this season due to crop shortage, an official said, possibly jeopardising further exports from the world's number 2 producer of the sweetner.
Published 17 Apr, 2011 12:00am
Thai rice exporters eye investments in Cambodia

Thai rice exporters eye investments in Cambodia

Thai exporters plan to invest in Cambodia's fledgling rice sector, lured by low production costs and tariff-free exports to the European Union, an industry official said on Tuesday.
Published 17 Apr, 2011 12:00am
Australia seen headed for another bumper crop next year

Australia seen headed for another bumper crop next year

Australia could harvest another bumper cotton crop next year, possibly matching this year's estimated harvest of a record 4 million bales, an industry official said on Thursday, noting that growing conditions remained ideal.
Published 17 Apr, 2011 12:00am
US gold hits record, silver surges

US gold hits record, silver surges

Gold rose 1 percent to a record and silver soared on Friday, as inflation worries amid a crude oil rally and a downgrade of Ireland's sovereign debt powered bullion to its fifth consecutive weekly gain. Silver rose to its highest in 31 years on speculativ
Published 17 Apr, 2011 12:00am
Copper extends losing streak

Copper extends losing streak

Copper fell for a fifth straight day on Friday, posting its biggest weekly loss since mid-March, as mounting inflationary pressure in China cast a shadow over the near-term demand outlook. Copper again shunned rallies in the precious metals complex, with
Published 17 Apr, 2011 12:00am
Soyabeans up

Soyabeans up

US soybean futures ended barely higher on Friday, but down about 4.4 percent on the week, with late-action on Friday led by soymeal's gain following new-crop corn and firm bids in cash. Soyoil also was up along with crude oil, traders said. May soybeans w
Published 17 Apr, 2011 12:00am
World finance chiefs chastise US on budget gap

World finance chiefs chastise US on budget gap

World finance leaders on Saturday chastised the United States for not doing enough to shrink its massive budget deficit and warned that fiscal strains in rich nations threaten the global recovery. Although global tensions over the possibility of currency
Published 17 Apr, 2011 12:00am
Kuwait launches firm to invest in Egypt economy

Kuwait launches firm to invest in Egypt economy

The Kuwait Investment Authority (KIA), the Gulf Arab state's sovereign fund, has launched a company with 1 billion Egyptian pounds ($167.8 million) to invest in Egypt's economy, an official said on Saturday. "A 1 billion Egyptian pounds company was launch
Published 17 Apr, 2011 12:00am
Iran says oil reserves increase as output declines

Iran says oil reserves increase as output declines

Iran has oil reserves to last for the next 150 years but faces declining output as fields mature, the head of its state oil company said on Saturday. Iran has played down the impact of sanctions - which have discouraged many western companies from investi
Published 17 Apr, 2011 12:00am
India buys into Kazakh oil block

India buys into Kazakh oil block

India acquired 25 percent of the Satpayev oil block in Kazakhstan on Saturday, in a deal aimed at boosting its energy security and helping fuel fast economic growth. India, which strongly depends on oil imports, has been less successful than its energy-hu
Published 17 Apr, 2011 12:00am
Hungary police, army unions protest over austerity

Hungary police, army unions protest over austerity

Around 10,000 Hungarian police, fire-fighters, soldiers and customs officers protested on Saturday against the centre-right government's austerity measures at a union rally in Budapest Hungary's Fidesz government, which swept to power in 2010 with a two-t
Published 17 Apr, 2011 12:00am
South Korea, US trade deal in 'home stretch': Clinton

South Korea, US trade deal in 'home stretch': Clinton

US Secretary of State Hillary Clinton flew to South Korea on Saturday to consult Seoul about progress made in sealing a long-delayed trade deal and to co-ordinate strategy over the nuclear standoff with North Korea.
Published 17 Apr, 2011 12:00am
US closes six banks, bringing 2011 total to 34

US closes six banks, bringing 2011 total to 34

US authorities closed six banks on Friday, bringing the total number of foreclosures in 2011 to 34. The largest of the shuttered banks was Superior Bank of Birmingham, Alabama with about $3.0 billion in assets and $2.7 billion in deposits, the Federal Dep
Published 17 Apr, 2011 12:00am
Slim's cellphone subsidiary hit with $1 billion fine

Slim's cellphone subsidiary hit with $1 billion fine

Mexican telecom giant America Movil says its cellphone subsidiary has been slapped with a 12 billion peso ($1 billion) fine by Mexico's Federal Competition Commission. The company owned by billionaire Carlos Slim says its Telcel subsidiary was informed th
Published 17 Apr, 2011 12:00am
China sovereign wealth fund eyeing Europe despite risks

China sovereign wealth fund eyeing Europe despite risks

Europe is likely to be hit the hardest among major economies by a potential global slowdown in 2012, but China's $300 billion sovereign wealth fund is still looking for investment opportunities there, its head said on Saturday.
Published 17 Apr, 2011 12:00am
China sovereign wealth fund eyeing Europe despite risks

China sovereign wealth fund eyeing Europe despite risks

Europe is likely to be hit the hardest among major economies by a potential global slowdown in 2012, but China's $300 billion sovereign wealth fund is still looking for investment opportunities there, its head said on Saturday.
Published 17 Apr, 2011 12:00am
Spain warns of record five million jobless

Spain warns of record five million jobless

The number of unemployed in Spain, which has the highest jobless rate among developed countries, could reach a record of more than five million, the labour minister warned in an interview published Saturday. "Whether or not we exceed five million unemploy
Published 17 Apr, 2011 12:00am
Kingdom Holding says still owns contested Egyptian land

Kingdom Holding says still owns contested Egyptian land

Saudi's Kingdom Holding said on Saturday it had not given up contested land in southern Egypt and had spoken to Egypt's public prosecutor about a settlement. "Kingdom Holding did not give up the land in the Toshka project and still owns it... and it has n
Published 17 Apr, 2011 12:00am
Germany denies Greek debt restructuring plans

Germany denies Greek debt restructuring plans

The German finance ministry on Saturday denied it was drawing up contingency plans for a Greek debt restructuring after the Financial Times reported the ministry was studying various options if Athens fails to meet its fiscal targets.
Published 17 Apr, 2011 12:00am
Euro lower but seen resilient next week; dollar at risk

Euro lower but seen resilient next week; dollar at risk

The euro slipped on Friday but its uptrend of the past three months still looks intact, with the prospect of more interest rate rises from the European central bank seen offsetting concerns about the ability of some poorer euro zone countries to pay their
Published 17 Apr, 2011 12:00am
Key Euribor rates flat; rate expectations in focus

Key Euribor rates flat; rate expectations in focus

Key euro-priced bank-to-bank lending rates remained at the previous day's levels on Friday on unchanged expectations that another European Central Bank interest rate increase will come before the end of summer. The ECB raised euro zone interest rates by a
Published 17 Apr, 2011 12:00am
Rouble rebounds

Rouble rebounds

The rouble rebounded on Friday after four days of declines driven by risk aversion, inching up as local demand for dollars faded while tax payments kicked in to add to support from high oil prices.
Published 17 Apr, 2011 12:00am
African currency outlook

African currency outlook

The Nigerian naira is seen firming in the next week to Wednesday if the country's elections are credible and peaceful, while Kenya's shilling could weaken due to dollar demand from the oil sector, traders said.
Published 17 Apr, 2011 12:00am
IMM speculators increase short bets versus yen

IMM speculators increase short bets versus yen

Speculators increased their bets against the yen this week, shorting the Japanese currency by the biggest margin in nearly a year, but reduced their long position in the Australian dollar, data showed on Friday. The Commodity and Futures Trading Commissio
Published 17 Apr, 2011 12:00am
Canadian dollar slips lower

Canadian dollar slips lower

The Canadian dollar weakened marginally against the US dollar on Friday, but remained within a narrow range as the spotlight was directed on sovereign debt fears in Europe. Euro-zone debt concerns warred with expectations of a rate hike by a hawkish Europ
Published 17 Apr, 2011 12:00am
Wall Street rises on economic data

Wall Street rises on economic data

Encouraging economic indicators sent US stocks higher on Friday, but the market's recent struggles are set to continue into next week when more than one-fifth of S&P 500 companies report results. The S&P 500 fell for a second straight week, and some in th
Published 17 Apr, 2011 12:00am
Infosys pressures Indian ADRs

Infosys pressures Indian ADRs

Indian shares traded in the United States came under pressure on Wednesday after Infosys Technologies forecast lower than expected sales, casting doubt over the local software services industry. Kicking off results for India's nearly $60 billion IT sector
Published 17 Apr, 2011 12:00am
Chevrolet aims to boost share with new models

Chevrolet aims to boost share with new models

Chevrolet Europe hopes seven new model launches this year, will help it equal or beat the 2.5 percent market share it won in Europe last year, the chief executive of the General Motors unit told Reuters. The company's 2.2 percent share in the first quarte
Published 17 Apr, 2011 12:00am
Chevrolet aims to boost share with new models

Chevrolet aims to boost share with new models

Chevrolet Europe hopes seven new model launches this year, will help it equal or beat the 2.5 percent market share it won in Europe last year, the chief executive of the General Motors unit told Reuters. The company's 2.2 percent share in the first quarte
Published 17 Apr, 2011 12:00am
US Treasury prices gain

US Treasury prices gain

Investors are turning increasingly bullish on the near term outlook for US Treasuries, saying slowing economic growth and still benign inflation may help the debt markets bloom this spring. US government bonds were boosted on Friday after data showed unde
Published 17 Apr, 2011 12:00am
US Treasury prices gain

US Treasury prices gain

Investors are turning increasingly bullish on the near term outlook for US Treasuries, saying slowing economic growth and still benign inflation may help the debt markets bloom this spring. US government bonds were boosted on Friday after data showed unde
Published 17 Apr, 2011 12:00am
Indian bond yields, swap rates spike

Indian bond yields, swap rates spike

Indian federal bond yields and swap rates spiked on Friday as a surge in March headline inflation spooked investors and raised expectations of aggressive rate increases by the central bank. The wholesale price index surged to nearly 9 percent in March, fa
Published 17 Apr, 2011 12:00am
Indian bond yields, swap rates spike

Indian bond yields, swap rates spike

Indian federal bond yields and swap rates spiked on Friday as a surge in March headline inflation spooked investors and raised expectations of aggressive rate increases by the central bank. The wholesale price index surged to nearly 9 percent in March, fa
Published 17 Apr, 2011 12:00am
Nasdaq open to selling Amex in NYSE bid

Nasdaq open to selling Amex in NYSE bid

Nasdaq OMX Group Inc told investors it could sell NYSE Euronext's American Stock Exchange and offer a break-up fee to overcome antitrust concerns in its $11.3 billion bid for the Big Board parent, a source familiar with the situation said on Friday. Nasda
Published 17 Apr, 2011 12:00am
Turkish markets gain

Turkish markets gain

Turkish markets rose on Friday after Erdem Basci was named as the new central bank governor, an appointment analysts saw bringing continuity to monetary policy, and credit agency S&P affirmed Turkey's rating. By 1430 GMT the lira was firmer at 1.5146 agai
Published 17 Apr, 2011 12:00am
Air Lease IPO could pave way for AIG's ILFC

Air Lease IPO could pave way for AIG's ILFC

American International Group Inc says no one is willing to pay what its aircraft leasing business, ILFC, is worth, but a successful IPO by a new competitor created by ILFC co-founder Steven Udvar-Hazy could change all of that.
Published 17 Apr, 2011 12:00am
TSX slumps with banks and miners

TSX slumps with banks and miners

Toronto's main stock index ended lower on Friday as concerns over US bank earnings hit financial stocks and rising global inflation rates hit miners. Toronto-Dominion Bank was down 0.85 percent at C$82.09, Canadian Imperial Bank of Commerce fell 1.4 perce
Published 17 Apr, 2011 12:00am
Latam stocks slip, Peru extends recovery

Latam stocks slip, Peru extends recovery

Latin American stocks tracked their worst week in a month on Friday on continued uncertainty, though a major fund manager said Brazilian stocks had strong prospects beyond the short term. "I am bullish (on Brazil) in the medium to long term," said money m
Published 17 Apr, 2011 12:00am
Irish yields rise after downgrade

Irish yields rise after downgrade

Greek and Irish bond yields rose on Friday and were set to climb further on growing speculation Athens will eventually need to restructure its debt and after Moody's downgraded Ireland to just above junk status. Spanish bonds also underperformed at the 10
Published 17 Apr, 2011 12:00am
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