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Archive - 2011-04-19
Euro higher against dollar
Financial

Euro higher against dollar

LONDON: The European single currency rose against the dollar Tuesday after data showed increasing inflation pressures ac
Published 19 Apr, 2011 08:47pm
EC tightens conflict of interest rules
Top News

EC tightens conflict of interest rules

BRUSSELS: The European Commission tightened the code of conduct for top officials on Wednesday in the wake of conflict-o
Published 19 Apr, 2011 07:00pm
US has no plan for deficit: IMF
Top News

US has no plan for deficit: IMF

PARIS: The United States lacks a credible medium-term plan to reduce budget deficits, the chief economist at the Inter
Published 19 Apr, 2011 07:00pm
US won't lose AAA rating
North America

US won't lose AAA rating

WASHINGTON: Treasury Secretary Timothy Geithner said on Tuesday there is no risk the United States could lose its top-ti
Published 19 Apr, 2011 06:29pm
Economic condition improving: PM
Top News

Economic condition improving: PM

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani said on Tuesday that economic situation of the country is improving wit
Published 19 Apr, 2011 04:57pm
Euro edges higher after data
Financial

Euro edges higher after data

NEW YORK: Solid euro zone economic data helped the euro rebound against the dollar on Tuesday after its worst day in fiv
Published 19 Apr, 2011 01:38pm
Gold rises towards $1,500
Commodities

Gold rises towards $1,500

LONDON: Gold expand back towards the previous session's record high near $1,500 an ounce on Tuesday, with appetite for r
Published 19 Apr, 2011 11:54am
Thousands homeless after Philippine fire
Top News

Thousands homeless after Philippine fire

MANILA: A huge fire razed a sprawling residential compound in the Philippine capital's financial district Tuesday, leavi
Published 19 Apr, 2011 09:15am
Oil down in Asian trade
Energy

Oil down in Asian trade

SINGAPORE: Oil fell in Asian trade Tuesday after a bearish Standard and Poor's report on the United States, but geopol
Published 19 Apr, 2011 05:42am
The debt spiral needs to end
BR Research

The debt spiral needs to end

It seems that the heat of summer has started to show on the energy sector, as the inter-corporate circular debt shows no signs of receding -
Published 19 Apr, 2011 12:00am
Lucky springs up on local sales
BR Research

Lucky springs up on local sales

The floods that hit earlier this fiscal year will haunt not only the countrys economic account till June 2011, but also the balance sheets o
Published 19 Apr, 2011 12:00am
USAID launches tubewell efficiency improvement project

USAID launches tubewell efficiency improvement project

In a bid to assist the severely energy deficient economy of Pakistan, the US Agency for International Development (USAID) has launched a Tubewell Efficiency Improvement Programme (TWEIP) with the objective of saving 45 MW or 115.5 GWh electricity per year
Published 19 Apr, 2011 12:00am
Three workers of oil exploration company shot dead

Three workers of oil exploration company shot dead

At least three workers of an oil exploration company were shot dead while three others were injured in Barkhan (a border area of Punjab-Balochistan) on Monday, police said. According to details, some unidentified gunmen attacked a workers' camp in Barkhan
Published 19 Apr, 2011 12:00am
Saudi Arabia keen to invest in energy, agriculture sectors: Hafeez

Saudi Arabia keen to invest in energy, agriculture sectors: Hafeez

Saudi Arabia is interested in investing in Pakistan's energy and agriculture sectors, Finance Minister Abdul Hafeez Shaikh said after meeting his counterpart from the oil-rich country. Dr Shaikh and Saudi Finance Minister Dr Ibrahim Bin Abdulaziz Al Assaf
Published 19 Apr, 2011 12:00am
Bail to under-trial prisoners: President signs bill

Bail to under-trial prisoners: President signs bill

President Asif Ali Zardari on Monday signed Code of Criminal Procedure (Amendment) Bill, 2011 to make a law that seeks to grant statutory bail both to under trial prisoners and the convicts whose trials and appeals have not been disposed of within a presc
Published 19 Apr, 2011 12:00am
Transfers, postings in FBR

Transfers, postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted 8 officers of Inland Revenue Service (Grade-17 to 19) with immediate effect.
Published 19 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 19 Apr, 2011 12:00am
EDB asked to resolve surgical instruments industry's issues

EDB asked to resolve surgical instruments industry's issues

Federal Minister for Industries and Production Mir Hazar Khan Bijarani has directed the Engineering Development Board (EDB) to workout a strategy to resolve the issues of surgical instruments industry and exploit its potentials in the global era.
Published 19 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 19 Apr, 2011 12:00am
Budget tax proposals: unrealistic!

Budget tax proposals: unrealistic!

The federal budget for the fiscal year 2011-12 would be announced on May 28 according to a Business Recorder exclusive leading to intense speculation as to what new taxation measures the government would decide to levy in its effort to raise tax co
Published 19 Apr, 2011 12:00am
Budget tax proposals: unrealistic!

Budget tax proposals: unrealistic!

The federal budget for the fiscal year 2011-12 would be announced on May 28 according to a Business Recorder exclusive leading to intense speculation as to what new taxation measures the government would decide to levy in its effort to raise tax co
Published 19 Apr, 2011 12:00am
Violations of procurement rules

Violations of procurement rules

Acting on a complaint it received from Transparency International Pakistan about gross violations of procurement rules, the Public Procurement Regulatory Authority (PPRA) has asked for a comprehensive report from the party concerned, the Defence Housing A
Published 19 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (April 18, 2011).

Published 19 Apr, 2011 12:00am
Where is rationality?

Where is rationality?

Governments everywhere are struggling to restore a semblance of stability to their economies but since regimes in the developed economies remain hostage to big businesses that finance their electoral campaigns, rationality won't prevail (eg invading Libya
Published 19 Apr, 2011 12:00am
The Weather

The Weather

The weather report on Monday (April 18, 2011) and the forecast for Tuesday (April 19, 2011).

Published 19 Apr, 2011 12:00am
Obesity, diabetes: expanding India faces big problem

Obesity, diabetes: expanding India faces big problem

Indian housewife Sujata Budarapu was shocked when she was told that her two sons were on the verge of developing Type 2 diabetes. "It had never even occurred to me that this could happen. I had heard that outside India this happens to other people's kids
Published 19 Apr, 2011 12:00am
Sales tax registration: a feat difficult

Sales tax registration: a feat difficult

On the one hand the Federal Board of Revenue (FBR) is looking for ways and means to enhance tax collection but on the other those genuine business houses/units established have to wait for an indefinite time due to whims and caprices of the authorities. N
Published 19 Apr, 2011 12:00am
Piaf expresses concern over issuance of notices by FBR

Piaf expresses concern over issuance of notices by FBR

The Pakistan Industrial and Traders Association (Piaf) has expressed its concern over issuance of notices by the Federal Board of Revenue (FBR). While speaking at a reception, the Piaf Chairman Sohail Lashari demanded of the Board to immediately stop issu
Published 19 Apr, 2011 12:00am
Prices of textbooks up by 25 percent

Prices of textbooks up by 25 percent

The prices of textbooks have increased to 25 percent in Multan and other cities of Southern Punjab while many books are not available in the market with the start of the new academic year from April, and the parents are being forced to buy the new course
Published 19 Apr, 2011 12:00am
Textile sector: 'issues to be resolved through consultation'

Textile sector: 'issues to be resolved through consultation'

Makhdoom Shahabuddin, Federal Minister for Textile Industry said the issues facing textile sector will be resolved after due consultation with Prime Minister of Pakistan, Syed Yousuf Raza Gilani. At a meeting with all the chairmen of industrial and trade
Published 19 Apr, 2011 12:00am
LABARD's annual fund-raising programme held

LABARD's annual fund-raising programme held

The Lahore Businessmen Association for Rehabilitation of Disabled (LABARD) held its annual fund-raising programme with a view to spend donations on free counseling services, medical treatment, education, and vocational training and employment opportunitie
Published 19 Apr, 2011 12:00am
Seven accused flee from lock up

Seven accused flee from lock up

Seven dangerous accused managed to escape after cutting iron bars of the lock up of Saddar police station on late Sunday night. DPO Sahiwal Rana Ayaz Saleem said on Monday that the criminals doped the guard on duty by giving him food mixed with intoxicant
Published 19 Apr, 2011 12:00am
Karachi Express derailed

Karachi Express derailed

Rawalpindi bound 15-up Karachi Express on Monday met an accident and its six bogies derailed near Chichawatni, said Bashir Ahmed Khan Divisional Commercial Officer.
Published 19 Apr, 2011 12:00am
Bosnian businessmen seek joint ventures

Bosnian businessmen seek joint ventures

Pakistani goods are reaching Bosnia through different countries of the European Union but the Bosnian businessmen want direct trade with Pakistan and showed their interest in setting up of joint ventures with Pakistani companies engaged in textile and agr
Published 19 Apr, 2011 12:00am
Flowers exhibition held

Flowers exhibition held

Government College University Lahore Horticulture Society Monday held the fresh flowers exhibition on the theme that 'flowers signify everything that is positive in this world like; life, beauty, love and happiness'.
Published 19 Apr, 2011 12:00am
MBBS exams schedule approved

MBBS exams schedule approved

The Board of Studies, University of Health Sciences (UHS) has approved the schedule for MBBS professional examinations for session 2010-11. The 21st meeting of UHS Board of Studies was held here on Monday. Principal Nishtar Medical College Multan, Profess
Published 19 Apr, 2011 12:00am
'Khawaja Asif losing popularity in PML-N'

'Khawaja Asif losing popularity in PML-N'

Pakistan Muslim League-N (PLM-N) leader Sheikh Ijaz Ahmad has said that there were no personal grievances between Khawaja Asif and him but the only antagonism was due to Khawaja Asif rough attitude with party workers of PML-N in NA-110 which was damaging
Published 19 Apr, 2011 12:00am
'Government introducing welfare schemes for labour community'

'Government introducing welfare schemes for labour community'

Minister Labour Punjab, Haji Ehsanuddin Qureshi has said the government is introducing welfare-oriented schemes for the betterment of labour community. Textbooks, stationery, transport, uniform and education are being provided free of cost to more than 27
Published 19 Apr, 2011 12:00am
Government should control price hike trend: RCCI chief

Government should control price hike trend: RCCI chief

Federal government should take concrete measures to rein in the recent price hike, overcome the deteriorating law and order situation to endorse foreign investment and provide business community a better atmosphere, said Ali Raza Saeed Shah, President Raw
Published 19 Apr, 2011 12:00am
UK-based Pakistani firm to join London Stock Exchange

UK-based Pakistani firm to join London Stock Exchange

A UK-based coal mining company headed by a Pakistani entrepreneur, planning to develop a 200 million pounds open-cast pit in Sindh, is expected to debut on AIM, a part of London Stock Exchange this week. Oracle Coalfields will complete its move from the P
Published 19 Apr, 2011 12:00am
Three including two women killed in different incidents

Three including two women killed in different incidents

At least three persons including two females were killed in different mishaps at various parts of the metropolis here on Monday. According to details, a strangled body of man was found in his house at Taiser Town sector 50-C in mysterious circumstances in
Published 19 Apr, 2011 12:00am
'QHSE policies, procedures gaining popularity'

'QHSE policies, procedures gaining popularity'

Importance of quality, health, safety and environment (QHSE) policies and procedures in the public and private sector has gained great importance due to the tragic Fukushima nuclear disaster in Japan. This disaster follows the oil spill disaster in the Gu
Published 19 Apr, 2011 12:00am
Khyber Pakhtunkhwa Governor calls on Malik

Khyber Pakhtunkhwa Governor calls on Malik

Governor Khyber-Pakhtunkhwa (KP) Barrister Masood Kausar called on Minister for Interior Senator Rehman Mail on Monday. They discussed overall law and order situation in Federally Administered Tribal Areas, said a press release issued here.
Published 19 Apr, 2011 12:00am
Steel manufacturing expands in Pakistan

Steel manufacturing expands in Pakistan

Following Pakistan's independence in 1947, it did not take too long for the State to conclude that effective industrial and economic development called for self-reliant iron and steel making capacity. Dependence on imports could not go on forever: apart f
Published 19 Apr, 2011 12:00am
PN Flotilla arrives in Bahrain

PN Flotilla arrives in Bahrain

Pakistan Navy Flotilla comprising PN Ships SAIF, Muhafiz and Munsif has arrived Bahrain early hours on Monday for participation in mine countermeasure and surface warfare multinational exercise Arabian Gauntlet. Naval assets from Regional Navies, Pakistan
Published 19 Apr, 2011 12:00am
Digital certificates for ST return e-filers: FBR examining PRAL proposal

Digital certificates for ST return e-filers: FBR examining PRAL proposal

The Federal Board of Revenue (FBR) is examining a proposal of the Pakistan Revenue Automation Limited (PRAL) to make it mandatory for the e-filers of sales tax returns to obtain digital certificates from an independent entity to provide maximum security t
Published 19 Apr, 2011 12:00am
Sindh government urged to increase salaries of Sindh police

Sindh government urged to increase salaries of Sindh police

Inspector General of Police (IGP) Sindh, Fayaz Lagari has presented a shield to Chairman Law and Order Sub Committee of Korangi Association of Trade and Industry (KATI) Nadeem Khan in recognition of his services to assist Madadgar 15 and control the crime
Published 19 Apr, 2011 12:00am
Raisani agrees to release Rs two billion for wheat procurement

Raisani agrees to release Rs two billion for wheat procurement

Balochistan government has agreed in principal to release Rs 2 billion to the Food Department of the province for the procurement of wheat. This was stated by the Balochistan Minister for Excise and Taxation, Mir Mohammad Amin Umrani during a briefing on
Published 19 Apr, 2011 12:00am
Swanbay introduces new medium of advertising

Swanbay introduces new medium of advertising

Cell phones have become part of our everyday lives, easily replacing our personal computers. Mobiles are increasingly becoming an extension of our bodies, devices that have taken over memory altogether. Making the advertisers' dream come true and reaching
Published 19 Apr, 2011 12:00am
First 'Youth Theatre Festival' starting from April 27

First 'Youth Theatre Festival' starting from April 27

The First Youth Theatre Festival would be organised from April 27. This was announced by Sindh Minister for Youth Affairs, Syed Faisal Ali Subzwari. He was presiding over a meeting held in his office here on Monday. The minister said that the two-day even
Published 19 Apr, 2011 12:00am
20 percent decline feared in garment export

20 percent decline feared in garment export

A recent calamity in Japan and popular uprisings in the Middle East and North Africa are expected to reduce Pakistan's apparel products exports by 20 percent this fiscal year, exporters said here on Monday. The other issues which could also aggravate the
Published 19 Apr, 2011 12:00am
Customs DEC foils bid to smuggle heroin

Customs DEC foils bid to smuggle heroin

Pakistan Customs Drug Enforcement Cell (DEC), Karachi Airport Unit recovered a half kg of heroin, concealed in children's jacket, from a postal parcel on Monday. According to details, the DEC staff while clearing the outgoing international parcels at Paki
Published 19 Apr, 2011 12:00am
Hajj balloting for employees of FWBL

Hajj balloting for employees of FWBL

Two employees of the First Women Bank Ltd (FWBL) will perform Hajj-2011 at Bank's expenses. Shafqat Sultana President /Chairperson First Women Bank Ltd conducted Hajj balloting for employees (up to AVP level) by pressing the computer button in Karachi on
Published 19 Apr, 2011 12:00am
Traders oppose imposition of wealth tax

Traders oppose imposition of wealth tax

The country's business community has strongly opposed imposition of wealth tax and suggested the government to take them on board before taking any decision on new taxes in the upcoming federal budget. Speaking at a reception in honour of business communi
Published 19 Apr, 2011 12:00am
Broadband customers: PTCL upgrades 1mbps connections

Broadband customers: PTCL upgrades 1mbps connections

Pakistan Telecommunication Company LTD (PTCL) has upgraded its 1mbps connections to 2mbps for all its existing and new potential broadband customers throughout the country without any extra charges. Under the newly announced package, 1mbps connection has
Published 19 Apr, 2011 12:00am
Four 'targeted killers' arrested

Four 'targeted killers' arrested

Police arrested four alleged target killers, who are reportedly involved in recent spate of targeted killings' incidents, from different area of the city on Monday. According to SP Malik Zafar Iqbal, three suspects on a motorbike were intercepted by the K
Published 19 Apr, 2011 12:00am
Profit after tax of Lucky Cement increases over Rs 1.014 billion

Profit after tax of Lucky Cement increases over Rs 1.014 billion

The profit after tax of Lucky Cement Limited has increased to Rs 1,014.460 million in the quarter ended March 31, 2011 as compared to Rs 652.987 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held
Published 19 Apr, 2011 12:00am
Profit after tax of Lucky Cement increases over Rs 1.014 billion

Profit after tax of Lucky Cement increases over Rs 1.014 billion

The profit after tax of Lucky Cement Limited has increased to Rs 1,014.460 million in the quarter ended March 31, 2011 as compared to Rs 652.987 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held
Published 19 Apr, 2011 12:00am
Third Ladiesfund Women's Awards ceremony held

Third Ladiesfund Women's Awards ceremony held

Dawood Capital Management Ltd, managers of Ladiesfund announced the 3rd Ladies fund Women's Awards held at Mohatta Palace Museum where 150 of the most dynamic and inspiring women in Pakistan attended the ceremony. The chief guests of the occasion were Dr
Published 19 Apr, 2011 12:00am
Third Ladiesfund Women's Awards ceremony held

Third Ladiesfund Women's Awards ceremony held

Dawood Capital Management Ltd, managers of Ladiesfund announced the 3rd Ladies fund Women's Awards held at Mohatta Palace Museum where 150 of the most dynamic and inspiring women in Pakistan attended the ceremony. The chief guests of the occasion were Dr
Published 19 Apr, 2011 12:00am
KPT gets two vessels

KPT gets two vessels

Karachi Shipyard & Engineering Works Monday handed over two indigenously built tugs to Karachi Port Trust. Chairperson of KPT, Mrs Nasreen Haque inaugurated the launch of two pusher tugs built at the shipyard for operational use of KPT. "We are working cl
Published 19 Apr, 2011 12:00am
KESC inaugurates water purification plant

KESC inaugurates water purification plant

Karachi Electric Supply Company (KESC) has recently inaugurated a water purification plant at Korangi Sector 10 which is part of the company's resolve to implement social reforms and interventions for the prosperity and betterment of the city of Karachi a
Published 19 Apr, 2011 12:00am
Karachi student wins ACCA Award

Karachi student wins ACCA Award

Misbah Zubair Panwala from Karachi is one of 33 students to win a global award from the ACCA for outstanding performance in their 2010 exams. Misbah Zubair Panwala is an ACCA Prizewinner for scoring the highest mark in the ACCA Qualification for Paper P4
Published 19 Apr, 2011 12:00am
New chief of Turkish Airlines pledges to promote tourism

New chief of Turkish Airlines pledges to promote tourism

The newly-appointed Country Manager of the Turkish Airlines in Pakistan Huseyin Cepni vowed to promote the air industry, tourism and bilateral ties between the two countries. In his maiden meeting with senior journalists, he said that his first task would
Published 19 Apr, 2011 12:00am
Khyber Pakhtunkhwa to arm PAC with suo motu powers

Khyber Pakhtunkhwa to arm PAC with suo motu powers

The provincial legislature of Khyber Pakhtunkhwa (KP) would make legislation to arm the Public Accounts Committee (PAC) with initiating suo motu proceedings in cases of financial corruption. This was stated by KP Assembly Speaker and chairman of PAC Kiram
Published 19 Apr, 2011 12:00am
IHC declares arrest orders of Sukhera invalid

IHC declares arrest orders of Sukhera invalid

The Islamabad High Court (IHC) on Monday declared the arrest orders of Zain Iftikhar Sukhera null and void. Justice Muhammad Anwar Khan Kasi of IHC resumed hearing of the petition filed by Zain Sukhera under section 561 to quash a First Investigation Repo
Published 19 Apr, 2011 12:00am
Apex court's verdict: CDA takes possession of land in E-11 sector

Apex court's verdict: CDA takes possession of land in E-11 sector

Capital Development Authority (CDA) took physical possession of a 54-acre land in the Northern Strip of E-11 sector, after Supreme Court struck down a joint venture agreement of CDA with Multi-Professional Co-operative Housing Society (MPCHS). The decisio
Published 19 Apr, 2011 12:00am
AIDP implementation: Committee set up to review progress

AIDP implementation: Committee set up to review progress

The government has decided to review the overall implementation progress of Auto Industry Development Plan (AIDP) and a committee has been constituted to figure out how much progress has been made on the targets fixed in the plan, it is learnt.
Published 19 Apr, 2011 12:00am
Cleanliness in Capital: CDA decides to take co-ordinated measures

Cleanliness in Capital: CDA decides to take co-ordinated measures

Capital Development Authority (CDA) has decided to take co-ordinated measures to ensure cleanliness in the Federal Capital by launching a rigorous anti-littering drive to implement existing laws in a befitting manner. It is need of the hour that all conce
Published 19 Apr, 2011 12:00am
38 suspects arrested

38 suspects arrested

Islamabad Police have nabbed 38 proclaimed offenders and court absconders during its ongoing anti-outlaws crackdown started to ensure the arrest of criminals involved in crimes of heinous nature, said Naeem Iqbal Spokesman of Islamabad Police, here on Mon
Published 19 Apr, 2011 12:00am
Prime Minister asks NAB to vacate RMC hostel

Prime Minister asks NAB to vacate RMC hostel

Prime Minister Syed Yousuf Raza Gilani, taking notice of the difficulties faced by female students of Rawalpindi Medical College (RMC), has directed the National Accountability Bureau (NAB) to immediately vacate the RMC hostel building to ease the sufferi
Published 19 Apr, 2011 12:00am
US MIDDAY: gold at new record high

US MIDDAY: gold at new record high

Gold prices rallied to a record high $1,497.20 an ounce on Monday after Standard & Poor's downgraded its credit outlook for the United States and as investors worried about debt in the eurozone and inflation in China. S&P said it might cut its long-term r
Published 19 Apr, 2011 12:00am
US MIDDAY: gold at new record high

US MIDDAY: gold at new record high

Gold prices rallied to a record high $1,497.20 an ounce on Monday after Standard & Poor's downgraded its credit outlook for the United States and as investors worried about debt in the eurozone and inflation in China. S&P said it might cut its long-term r
Published 19 Apr, 2011 12:00am
US MIDDAY: gold at new record high

US MIDDAY: gold at new record high

Gold prices rallied to a record high $1,497.20 an ounce on Monday after Standard & Poor''s downgraded its credit outlook for the United States and as investors worried about debt in the eurozone and inflation in China. S&P said it might cut its long-term
Published 19 Apr, 2011 12:00am
US MIDDAY: copper falls

US MIDDAY: copper falls

Copper fell for the sixth straight session on Monday to a one-month low after a credit agency's negative credit outlook for the United States added to concerns about demand prospects. COMEX May copper dropped 5.95 cents, or 1.4 percent, to settle at $4.19
Published 19 Apr, 2011 12:00am
US MIDDAY: wheat surges

US MIDDAY: wheat surges

US wheat futures jumped more than 4 percent on Monday as dry weather threatened crop prospects in top producing nations, including the United States. Wheat led grains markets higher even as the dollar soared 1 percent, and crude oil tumbled more than 2 pe
Published 19 Apr, 2011 12:00am
US MIDDAY: coffee, sugar and cocoa down

US MIDDAY: coffee, sugar and cocoa down

Arabica coffee futures closed down on Monday, falling from a five-week high as investors fled risky assets after Standard & Poor's revised its outlook on the United States to negative from stable. US cocoa and raw sugar futures also closed lower. The May
Published 19 Apr, 2011 12:00am
Gold rallies to record near $1,500 in London

Gold rallies to record near $1,500 in London

Gold prices rallied to record highs near $1,500 an ounce on Monday after rating agency Standard & Poor's cut its outlook for the United States to negative from stable, boosting safe-haven flows into the metal. S&P cited a "material risk" that policymakers
Published 19 Apr, 2011 12:00am
Gold, silver climb in Asia

Gold, silver climb in Asia

Spot gold hit a record high and silver rose to a 31-year high on Monday, fuelled by concerns of rising inflation globally, while a lingering eurozone sovereign debt crisis continued to boost safe-haven demand in precious metals. Spot gold hit a record of
Published 19 Apr, 2011 12:00am
Liffe coffee and sugar fall

Liffe coffee and sugar fall

Liffe July robusta coffee closed $43 lower at $2,425 a tonne on Monday after Standard & Poor's revised its ratings outlook on the United States to negative from stable. Liffe August white sugar fell $10.70 to close at $622.00 a tonne after the S&P negativ
Published 19 Apr, 2011 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian palm oil futures rose 0.4 percent on Monday on hopes that buyers will switch away from more expensive rival soybean oil. Palm oil, at a discount of more than $180 to soyoil, may attract demand from price-sensitive China and India, the world's to
Published 19 Apr, 2011 12:00am
Tokyo rubber futures at two-week low

Tokyo rubber futures at two-week low

Tokyo rubber futures fell to a two-week low on Monday, hurt by weaker oil prices and a perception prices were overbought, but limited supply in producing countries should offer support, dealers said. The benchmark rubber contract on the Tokyo Commodity Ex
Published 19 Apr, 2011 12:00am
Oil prices plummet

Oil prices plummet

Oil fell sharply on Monday after ratings agency S&P revised lower its US credit outlook to negative and Opec ministers said high crude prices could place a major strain on consumer countries' economies. Although it affirmed the United States' "AAA" credit
Published 19 Apr, 2011 12:00am
Copper slips

Copper slips

Copper fell to a one-month low on Monday after rating agency Standard & Poor's revised its outlook on the United States, the world's largest economy, to negative and under the pressure of a stronger US dollar. Three-month copper on the London Metal Exchan
Published 19 Apr, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper prices reversed early losses on Monday, focusing on a more positive technical outlook, with some in the market viewing China's reserve ratio hike as a step closer to the end of the monetary tightening cycle. Shanghai's most-active June copper futur
Published 19 Apr, 2011 12:00am
New York cotton ends higher with support from grains markets

New York cotton ends higher with support from grains markets

US cotton futures ended up for the first time in five trading sessions on Monday, influenced by strength in the grains markets and ongoing concerns about drier weather in the Southern part of the country. Cotton's gains bucked the trend in the broader sof
Published 19 Apr, 2011 12:00am
British former soldier jailed for burning the Holy Quran

British former soldier jailed for burning the Holy Quran

A British court on Monday jailed a former soldier for 70 days for burning a copy of the Holy Quran. Andrew Ryan, an unemployed 32-year-old, stole the copy of the Islamic holy book from a library and set it on fire with a cigarette lighter in front of a cr
Published 19 Apr, 2011 12:00am
Pentagon probe clears McChrystal after sacking

Pentagon probe clears McChrystal after sacking

A Pentagon probe cleared General Stanley McChrystal of any wrongdoing Monday and cast doubt over the accuracy of a Rolling Stone article that got the former Afghanistan war chief sacked. The Defence Department Office of Inspector General concluded there w
Published 19 Apr, 2011 12:00am
Indian police kill protester in anti-nuclear demonstration

Indian police kill protester in anti-nuclear demonstration

Indian police opened fire on hundreds of protesters - killing one - at a demonstration against the proposed construction of a nuclear power station, police and the government said Monday. Maharashtra Police inspector general Gulabrao Pol said officers wer
Published 19 Apr, 2011 12:00am
Many dead in Nigerian election protests

Many dead in Nigerian election protests

Rioting erupted across Nigeria's largely Muslim north on Monday and the Red Cross spoke of many dead as youths torched churches and homes in anger at President Goodluck Jonathan's election victory. The vote count showed Jonathan, from the southern oil-pro
Published 19 Apr, 2011 12:00am
Jonathan wins election

Jonathan wins election

President Goodluck Jonathan won Nigeria's presidential election, final figures announced by the Independent National Electoral Commission (INEC) showed on Monday. Jonathan won 22.5 million votes, around 57 percent of votes cast, compared to 12.2 million v
Published 19 Apr, 2011 12:00am
Taliban breaches Afghan defence Headquarters, kills two

Taliban breaches Afghan defence Headquarters, kills two

A gunman in Afghan army uniform opened fire inside Kabul's defence ministry Monday, killing two soldiers and wounding seven in an audacious strike at the heart of government claimed by the Taliban. The attack, which militants said targeted France's visiti
Published 19 Apr, 2011 12:00am
Russia bans neo-nationalist group after violence

Russia bans neo-nationalist group after violence

Russia banned a neo-nationalist group on Monday linked to a 7,000-strong demonstration near Red Square that erupted in the worst racial violence the country has seen since the fall of the Soviet Union. A Moscow city court outlawed as "extremist" the ultra
Published 19 Apr, 2011 12:00am
Drug abuse takes heavy toll on Russian economy: Medvedev

Drug abuse takes heavy toll on Russian economy: Medvedev

President Dmitry Medvedev on Monday said drug abuse was a major national threat and cost the Russian economy up to three percent of Gross Domestic Product. The Kremlin chief spoke at a government meeting in the Siberian city of Irkutsk where officials say
Published 19 Apr, 2011 12:00am
81 hurt in Iraq clashes with protesters

81 hurt in Iraq clashes with protesters

Eighty-one people were wounded, nine by live fire, in a second day of clashes between protesters and security forces in Iraq's northern city of Sulaimaniyah Monday, a medical official said. "Eighty-one people were wounded, nine of them by bullets. Securit
Published 19 Apr, 2011 12:00am
India bans child labour in circuses

India bans child labour in circuses

India's Supreme Court on Monday banned travelling circuses from employing children and ordered the government to conduct raids on all performing companies to rescue minors. The court edict followed a petition lodged by a children's rights group that has l
Published 19 Apr, 2011 12:00am
Libyan forces pound Misrata, 1,000 evacuated by sea

Libyan forces pound Misrata, 1,000 evacuated by sea

A chartered ship evacuated nearly 1,000 foreign workers and wounded Libyans from Misrata on Monday as rebels said they had gained ground in fighting with government forces in the besieged city. "We wanted to be able to take more people out but it was not
Published 19 Apr, 2011 12:00am
Thousands demand overthrow of Assad after deaths

Thousands demand overthrow of Assad after deaths

Thousands demanded the overthrow of Syrian President Bashar al-Assad on Monday at the funeral of eight protesters killed in the central city of Homs as unrest swelled despite a promise to lift emergency law. Activists in Homs said the eight were killed la
Published 19 Apr, 2011 12:00am
Yemen ruling party members form pro-protest bloc

Yemen ruling party members form pro-protest bloc

Members of Yemen's ruling party including three former ministers formed a new bloc on Monday to support protests against the rule of President Ali Abdullah Saleh. The protests, inspired by uprisings that toppled the leaders of Egypt and Tunisia, are now i
Published 19 Apr, 2011 12:00am
17 killed in China hailstorm

17 killed in China hailstorm

At least 17 people were killed and more than 150 injured as hailstones, lashing rain and gales pounded southern China's Guangdong province, state media reported Monday. The Sunday storm, which hit cities including Guangzhou, Foshan, Dongguan and Zhongshan
Published 19 Apr, 2011 12:00am
Eurozone crisis escalates on Greek debt fears

Eurozone crisis escalates on Greek debt fears

Rising expectations that Greece will have to restructure its mountain of debt, possibly as early as this summer, sent the euro and the bonds of weak eurozone members tumbling on Monday in a dramatic escalation of the bloc's debt crisis. German government
Published 19 Apr, 2011 12:00am
Eurozone crisis escalates on Greek debt fears

Eurozone crisis escalates on Greek debt fears

Rising expectations that Greece will have to restructure its mountain of debt, possibly as early as this summer, sent the euro and the bonds of weak eurozone members tumbling on Monday in a dramatic escalation of the bloc's debt crisis. German government
Published 19 Apr, 2011 12:00am
NYSE eyes big fee from Nasdaq before firm talks

NYSE eyes big fee from Nasdaq before firm talks

NYSE Euronext would likely want Nasdaq OMX Group to offer a massive fee to guarantee that its take-over bid will pass antitrust regulatory muster, before the NYSE is willing to engage in deal talks, two sources with knowledge of the matter said. The NYSE,
Published 19 Apr, 2011 12:00am
Citi profit falls 32 percent

Citi profit falls 32 percent

Citigroup Inc's first-quarter profit fell 32 percent as bond trading revenue plunged and operating expenses jumped. The results were better than analysts expected, but Citigroup shares were just 0.9 percent higher in late morning trading at $4.46.
Published 19 Apr, 2011 12:00am
Citi profit falls 32 percent

Citi profit falls 32 percent

Citigroup Inc's first-quarter profit fell 32 percent as bond trading revenue plunged and operating expenses jumped. The results were better than analysts expected, but Citigroup shares were just 0.9 percent higher in late morning trading at $4.46.
Published 19 Apr, 2011 12:00am
US economists fear spillover from Japan

US economists fear spillover from Japan

Turmoil in Japan could spell higher costs and choppy sales for US firms, according to a survey of trade economists published Monday, showing jitters and uncertainty about impact of the crisis. Businesses can expect to see a significant spillover from the
Published 19 Apr, 2011 12:00am
Nestle agrees to buy 60 percent of Chinese food firm

Nestle agrees to buy 60 percent of Chinese food firm

Nestle, the world's biggest food company, agreed to take a 60 percent stake in China's Yinlu Foods Group for an undisclosed price, Nestle said in a statement on Monday. Family-owned Yinlu had sales of about 750 million Swiss francs ($839.6 million) in 201
Published 19 Apr, 2011 12:00am
Russia woos foreign money with promise of high return

Russia woos foreign money with promise of high return

Russia's planned $10 billion private equity fund will be mostly funded by foreign capital, lured by targeted returns of up to 20 percent from investing in industries such as technology and pharmaceuticals, a senior official said at the weekend.
Published 19 Apr, 2011 12:00am
Russia woos foreign money with promise of high return

Russia woos foreign money with promise of high return

Russia's planned $10 billion private equity fund will be mostly funded by foreign capital, lured by targeted returns of up to 20 percent from investing in industries such as technology and pharmaceuticals, a senior official said at the weekend.
Published 19 Apr, 2011 12:00am
IMF criticises response to overheating risks

IMF criticises response to overheating risks

The International Monetary Fund on Monday criticised developing countries for not responding strongly enough to the surge of hot money into their markets, saying the result could be a hard economic landing.
Published 19 Apr, 2011 12:00am
Banks cleared in Parmalat collapse

Banks cleared in Parmalat collapse

A Milan court on Monday acquitted four international banks and six managers on criminal charges related to the 2003 collapse of the Parmalat dairy empire. The banks all immediately issued statements expressing satisfaction with the ruling, which brings to
Published 19 Apr, 2011 12:00am
Philips turns off TV in search of profit

Philips turns off TV in search of profit

Philips is hiving off its once leading television business, the first step by new chief executive Frans van Houten to boost flagging profit at Europe's biggest consumer electronics maker. Philips is moving its loss-making TV business to a 30/70 joint vent
Published 19 Apr, 2011 12:00am
Philips turns off TV in search of profit

Philips turns off TV in search of profit

Philips is hiving off its once leading television business, the first step by new chief executive Frans van Houten to boost flagging profit at Europe's biggest consumer electronics maker. Philips is moving its loss-making TV business to a 30/70 joint vent
Published 19 Apr, 2011 12:00am
Car makers go local to tap China growth

Car makers go local to tap China growth

Global auto makers and their Chinese partners are rolling out dedicated local brands and targeting buyers in smaller towns and cities as growth in the world's largest auto market slows from its breakneck pace. Vehicle sales are anticipated to rise to 23 m
Published 19 Apr, 2011 12:00am
Toyota resumes production at all Japan plants

Toyota resumes production at all Japan plants

Toyota on Monday resumed operations at all its domestic plants that had been halted since the March 11 earthquake and tsunami, with production volume still at around 50 percent due to a parts shortage. The auto giant said it had begun measuring the radiat
Published 19 Apr, 2011 12:00am
Moody's downgrades Irish banks

Moody's downgrades Irish banks

Moody's on Monday cut its ratings on Ireland's beleaguered banks as a consequence of last week slashing its ratings for the country's bonds. "Moody's Investors Service has today downgraded the ratings of several Irish banks following Moody's rating action
Published 19 Apr, 2011 12:00am
PHF hopes to resume India hockey ties

PHF hopes to resume India hockey ties

Pakistan hopes to resume hockey ties with India later this year, an official said Monday, as sporting links between the two arch-rivals continue to thaw. Pakistan Hockey Federation secretary Asif Bajwa told reporters there were hopes of arranging a series
Published 19 Apr, 2011 12:00am
Pakistan, India Blind Cricket series on year's end

Pakistan, India Blind Cricket series on year's end

Secretary, Pakistan Blind Cricket Council (PBCC), Bilal Satti, said that as all the nation is working on to make better the Pakistan-India relations so the PBCC not lacking behind in that. He told APP that we are likely to host a bilateral Pak-India serie
Published 19 Apr, 2011 12:00am
Dilshan named as Sri Lanka's skipper

Dilshan named as Sri Lanka's skipper

Sri Lanka's ccricket authorities on Monday named big-hitting all-rounder Tillakaratne Dilshan as captain for the upcoming tour of England. Dilshan will lead the side in all three formats of the game - Tests, one-day internationals and Twenty20s - on the t
Published 19 Apr, 2011 12:00am
PFF launches 'Fair Play Scoring System'

PFF launches 'Fair Play Scoring System'

Pakistan Football Federation (PFF) has announced 'Fair Play Scoring System' in connection with the 21st National Bank Football Cup to be staged in Faisalabad. "All players and coaches are expected to demonstrate a highest standard of sportsmanship through
Published 19 Apr, 2011 12:00am
Punjab chief minister Summer Cricket League begins

Punjab chief minister Summer Cricket League begins

President, Lahore City Cricket Association (LCCA), Khawaja Nadeem Ahmad inaugurated Punjab Chief Minister Summer Cricket League on Monday. The president LCCA said that the event would help in identifying talented player beside formulating performance-base
Published 19 Apr, 2011 12:00am
Seniors Cricket Cup: Lahore Whites, Sayid Paper in semis

Seniors Cricket Cup: Lahore Whites, Sayid Paper in semis

Lahore Whites and Sayid Paper Mills moved into regional semi finals of 13th National Seniors Cricket Cup after winning their respective matches. Lahore Whites raced to 179-7 in 24 overs against Multan Tigers and bowled the opposition out for 124. Lahore,
Published 19 Apr, 2011 12:00am
Nigerian international Adefemi dies in car accident

Nigerian international Adefemi dies in car accident

Skoda Xanthi's Nigerian international Olubayo Adefemi has died in a car accident, Greek police said on Monday. The 25-year-old defender lost control of his car on the Egnatia motorway while driving from Xanthi to Salonika in the Kavala region of Northern
Published 19 Apr, 2011 12:00am
Steele captures first US PGA Tour title

Steele captures first US PGA Tour title

Rookie Brendan Steele battled strong winds and tenacious rival Kevin Chappell to win the Texas Open Sunday, firing a final-round 71 to seize his first US PGA Tour title. Steele, who led by one stroke going into the round, delivered a one-under final round
Published 19 Apr, 2011 12:00am
Burkina Faso mutiny spreads as police, students riot

Burkina Faso mutiny spreads as police, students riot

A mutiny in Burkina Faso spread Monday as police joined soldiers on a rampage in a northern town, and students staged violent protests in the west against President Blaise Compaore's regime. Soldiers and paramilitary police poured into the streets of the
Published 19 Apr, 2011 12:00am
Nepal former minister, 82, aims to scale Everest

Nepal former minister, 82, aims to scale Everest

An 82-year-old former Nepalese minister has set off for Mount Everest in an attempt to set the record as the oldest person to scale the world's highest peak, organisers said Monday. Shailendra Kumar Upadhyaya, who served as Nepal's foreign minister and pe
Published 19 Apr, 2011 12:00am
Hungary's parliament approves new constitution

Hungary's parliament approves new constitution

Hungary's Fidesz party pushed a new constitution through parliament on Monday, bypassing an opposition boycott over complaints the move lacked consensus and will cement Fidesz power beyond the end of its term. Centre-right Fidesz, which swept to power wit
Published 19 Apr, 2011 12:00am
India Marxists face vote for survival in West Bengal

India Marxists face vote for survival in West Bengal

The Indian state of West Bengal went to the polls Monday in a vote that looked set to end three decades of uninterrupted rule by the world's oldest democratically elected communist government. The Left Front, led by the Communist Party of Indian (Marxist)
Published 19 Apr, 2011 12:00am
Three dead, dozens hurt in Afghan protests: officials

Three dead, dozens hurt in Afghan protests: officials

Three people died after shooting broke out at a protest north of Kabul Monday against the detention of an alleged insurgent by foreign and Afghan forces, officials said. About 3,000 people rallied in Charikar, the capital of Parwan province about 50 kilom
Published 19 Apr, 2011 12:00am
Kuwait to donate five million oil barrels to Japan

Kuwait to donate five million oil barrels to Japan

Oil-rich Kuwait said Monday it will donate five million barrels of oil worth over 550 million dollars at current prices to Japan as an expression of solidarity with the earthquake and tsunami struck nation. "To show our solidarity with Japan ... the counc
Published 19 Apr, 2011 12:00am
Singapore dollar, rupiah dip

Singapore dollar, rupiah dip

The Singapore dollar and the Indonesian rupiah slid on Monday on dollar short-covering and a weaker euro, while the South Korean won found support as some players took advantage of its declines against the yen to buy the local currency on dips. The euro f
Published 19 Apr, 2011 12:00am
Euro slides broadly in London

Euro slides broadly in London

The euro fell broadly in thin trade on Monday, testing an area of key support against the dollar on increased talk that Greece will be forced to restructure its debt and uncertainty over a bailout for Portugal. The euro fell to an 11-day low around $1.427
Published 19 Apr, 2011 12:00am
Early trade in New York: Euro falls most versus dollar since November

Early trade in New York: Euro falls most versus dollar since November

The euro suffered its worst one-day drop since November against the dollar on Monday as concerns mounted that Greece will be forced to restructure its debt and anti-aid sentiment in Europe showed signs of growing. The euro was last trading down 1.4 percen
Published 19 Apr, 2011 12:00am
Yen climbs in Asia

Yen climbs in Asia

The euro extended losses on Monday after repeated attempts to break above a resistance level failed, placing focus on renewed worries about eurozone debt problems and giving the dollar a much needed reprieve after heavy selling in the past few weeks.
Published 19 Apr, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Monday, erasing early gains notched up on expectations of dollar inflows, hurt by losses in local shares and the dollar's strength against the euro. The partially convertible rupee closed at 44.45/46 per dollar, 0.3 percent we
Published 19 Apr, 2011 12:00am
Money markets: Greek restructuring worries hang over banks

Money markets: Greek restructuring worries hang over banks

The cost of insuring against eurozone bank defaults rose on Monday on concern over exposure to Greek debt in the event of a restructuring, although some analysts said banks might be able to avoid significant damage. A report in a Greek daily - later denie
Published 19 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. 72.79/72.88 (previous 72.83/72.84). Call Money Rates: 6.00-12.00 percent (previous 6.00-12.00 percent).
Published 19 Apr, 2011 12:00am
Yuan hits record high again

Yuan hits record high again

The yuan closed up against the dollar on Monday, hitting another intraday record high, after the People's Bank of China raised bank required reserves to mop up liquidity in its financial system and contain high inflation. The central bank on Monday fixed
Published 19 Apr, 2011 12:00am
Sterling trims losses

Sterling trims losses

Sterling trimmed losses versus the dollar on Monday after an outlook downgrade to the US sovereign rating put the brakes on the greenback's rise, but the pound may struggle as investors price out the possibility of a UK interest rate rise next month.
Published 19 Apr, 2011 12:00am
New Zealand dollar slips, Aussie pauses

New Zealand dollar slips, Aussie pauses

The New Zealand dollar consolidated below recent peaks on Monday after a subdued read on underlying inflation dimmed chances of an early resumption of interest rate rises, while the Aussie held steady near a 29-year peak. The kiwi slipped to a low around
Published 19 Apr, 2011 12:00am
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