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Archive - 2011-04-20
MTBs worth Rs215 bln accepted
Top News

MTBs worth Rs215 bln accepted

KARACHI: State Bank of Pakistan (SBP) Wednesday accepted bids worth Rs 215.701 billion for Market Treasury Bills (MTBs)
Published 20 Apr, 2011 09:37pm
Kenya's bond yields rise
Financial

Kenya's bond yields rise

NAIROBI: Kenya's 15-year and two-year borrowing costs rose at undersubscribed auctions on Wednesday due to a recent tigh
Published 20 Apr, 2011 03:58pm
PCB tightens agent rules
Cricket

PCB tightens agent rules

LAHORE: The Pakistan Cricket Board (PCB) said in future approved agents needed to have clearance from the police and the
Published 20 Apr, 2011 03:18pm
Swiss govt approves tougher bank rules
Top News

Swiss govt approves tougher bank rules

ZURICH: The Swiss government on Wednesday approved tougher regulation for major banks, including a provision that allows
Published 20 Apr, 2011 02:58pm
Cholera outbreaks in Haiti
World

Cholera outbreaks in Haiti

PORT-AU-PRINCE: Haitian health officials on Wednesday said they have found new cases of cholera in rural areas of the co
Published 20 Apr, 2011 02:38pm
US sees rise in home sales
Industry

US sees rise in home sales

WASHINGTON: There was a glimmer of hope from the troubled US housing market on Wednesday, with the National Association
Published 20 Apr, 2011 01:54pm
Pakistani, US diplomats hold talks
Top News

Pakistani, US diplomats hold talks

WASHINGTON: Foreign Secretary Salman Bashir Thursday led Pakistani side in talks with US Special Representative for Paki
Published 20 Apr, 2011 12:31pm
Shell Pakistan's profits up
Markets

Shell Pakistan's profits up

KARACHI: Shell Pakistan Ltd has posted a higher profit after tax of Rs 758.401 million during the quarter ending March 3
Published 20 Apr, 2011 12:20pm
Pak Refinery reports profit
Energy

Pak Refinery reports profit

KARACHI: Pakistan Refinery Ltd (PRL) has posted a profit after tax of Rs 47.041 million for the nine months ending March
Published 20 Apr, 2011 11:57am
Faysal Bank's profits down
Top News

Faysal Bank's profits down

KARACHI: The profit after tax of Faysal Bank Ltd has declined to Rs 241.258 million for the first quarter ending March 3
Published 20 Apr, 2011 11:35am
ADB assistance hits $17.51bn in 2010
Top News

ADB assistance hits $17.51bn in 2010

ISLAMABAD: The Asian Development Bank (ADB) approved $17.51 billion in financing operations last year, according to ADB'
Published 20 Apr, 2011 08:05am
Thai exports hit new high
Top News

Thai exports hit new high

BANGKOK: Thailand's exports jumped 30.9 percent in March from a year earlier, hitting a new all-time high in a boost to
Published 20 Apr, 2011 06:56am
Pakistan Oil Fields
BR Research

Pakistan Oil Fields

While the rising global crude oil prices may be a cause of concern for some, they do not worry the producers one bit; and Pakistan Oil Field
Published 20 Apr, 2011 12:00am
Meeting discusses BMRE of PSM through Russian aid

Meeting discusses BMRE of PSM through Russian aid

A meeting to discuss the Balancing, Modernisation, Revamping and Extension (BMRE) of Pakistan Steel Mills (PSM) through Russian technical assistance was held here on Tuesday with Federal Minister for Industries and Production Mir Hazar Khan Bijarani in th
Published 20 Apr, 2011 12:00am
20 projects of rainwater harvesting plan completed

20 projects of rainwater harvesting plan completed

Capital Development Authority (CDA) has completed over 20 projects of Rainwater Harvesting Plan aimed at enriching the ground water in the federal capital to meet the challenge of water scarcity, said Imtiaz Inayat Elahi, Chairman CDA, here on Tuesday.
Published 20 Apr, 2011 12:00am
Regi Model Town: plot owners asked to initiate construction work

Regi Model Town: plot owners asked to initiate construction work

Director General of Peshawar Development Authority (PDA) Qazi Laeeq has urged the residential plot owners of the Zone 3 and 4 of the Regi Model Town to start construction work saying the authority would fully facilitate them. Talking to mediapersons here
Published 20 Apr, 2011 12:00am
Business community rejects wealth tax imposition

Business community rejects wealth tax imposition

The business community has vehemently rejected the government's move to impose wealth tax describing it unjust and failed experiment. Multan Chambers of Commerce and Industry (MCCI) President Shahid Naseem Khokhar said here on Tuesday said that nowhere in
Published 20 Apr, 2011 12:00am
PRAL issues 'guide' for filing of CGT statement

PRAL issues 'guide' for filing of CGT statement

The Federal Board of Revenue (FBR) will issue 'statement acknowledgement receipt' to the filers of quarterly statements of capital gain tax (CGT) through electronic system. Pakistan Revenue Automation Limited (PRAL) - the IT arm of FBR, on Tuesday issued
Published 20 Apr, 2011 12:00am
Hub Power posts Rs 1.441 billion profit

Hub Power posts Rs 1.441 billion profit

Hub Power Company has posted Rs 1.441 billion as its profit (unconsolidated) for the three month period ended March 31, 2011 as compared to Rs 1.435 billion earned in the corresponding quarter in 2010. The board of directors of the company in its meeting
Published 20 Apr, 2011 12:00am
Hub Power posts Rs 1.441 billion profit

Hub Power posts Rs 1.441 billion profit

Hub Power Company has posted Rs 1.441 billion as its profit (unconsolidated) for the three month period ended March 31, 2011 as compared to Rs 1.435 billion earned in the corresponding quarter in 2010. The board of directors of the company in its meeting
Published 20 Apr, 2011 12:00am
'Educating girls a key to overcome social problems'

'Educating girls a key to overcome social problems'

Educating girls is a key to build economy and overcome social problems, as Pakistan's future is bleak without girls' education. This was the crux of a conference entitled; "Empowerment through girls education in contemporary Muslim societies", organised b
Published 20 Apr, 2011 12:00am
NRL profit after tax increases to Rs 1,709.985 million

NRL profit after tax increases to Rs 1,709.985 million

The profit after tax of National Refinery Limited (NRL) has increased to Rs 1,709.985 million in the quarter ended March 31, 2011 as compared to Rs 813.166 million earned in the corresponding period in 2010. The board of directors of the company in its me
Published 20 Apr, 2011 12:00am
NRL profit after tax increases to Rs 1,709.985 million

NRL profit after tax increases to Rs 1,709.985 million

The profit after tax of National Refinery Limited (NRL) has increased to Rs 1,709.985 million in the quarter ended March 31, 2011 as compared to Rs 813.166 million earned in the corresponding period in 2010. The board of directors of the company in its me
Published 20 Apr, 2011 12:00am
Profit after tax of Attock Petroleum increases

Profit after tax of Attock Petroleum increases

The profit after tax of Attock Petroleum Limited (APL) has increased to rupees 1,009.484 million in the quarter ended March 31, 2011 as compared to Rs 834.162 million earned in the corresponding period in 2010. The company's earning per share increased to
Published 20 Apr, 2011 12:00am
Profit after tax of Attock Petroleum increases

Profit after tax of Attock Petroleum increases

The profit after tax of Attock Petroleum Limited (APL) has increased to rupees 1,009.484 million in the quarter ended March 31, 2011 as compared to Rs 834.162 million earned in the corresponding period in 2010. The company's earning per share increased to
Published 20 Apr, 2011 12:00am
Ministry meeting with Aptma today

Ministry meeting with Aptma today

The Textile Ministry has convened a meeting of All Pakistan Textile Mills Association (Aptma) on Wednesday, April 20, to discuss the likely cotton and yarn shortage in the country, it is learnt. During the meeting cotton export and import for the current
Published 20 Apr, 2011 12:00am
Record year for IFC's Global Trade Finance programme

Record year for IFC's Global Trade Finance programme

International Finance Corporation's (IFC) Global Trade Finance Programme is marking another record year in Pakistan helping the country's businesses access global import and export markets, expand their operations and create new jobs. As of March 31, 2011
Published 20 Apr, 2011 12:00am
Man, wife killed, 7 kids injured

Man, wife killed, 7 kids injured

A man and his wife were killed while their seven children were injured when the roof of a house collapsed at Bank Stop, Nishtar Colony, on Tuesday. Police said that Shaukat Ali, his wife Gul Hayat and seven children were asleep in the house when the roof
Published 20 Apr, 2011 12:00am
ACCA-WWF 'Business Earth Talk' on April 22

ACCA-WWF 'Business Earth Talk' on April 22

ACCA and WWF have partnered to organise 'Business Earth Talk' on 22 April 2011. The high profile event will encompass discussion forums: 'Climate Change: A 'Business Challenge or Opportunity' and 'Predicting the Future: Annual Report 2030', followed by AC
Published 20 Apr, 2011 12:00am
PACRA maintains Arif Habib Investments' entity ratings

PACRA maintains Arif Habib Investments' 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 'A1' (A one) respectively. These ratings denote a low expectation of credit risk emanating f
Published 20 Apr, 2011 12:00am
PACRA maintains Arif Habib Investments' entity ratings

PACRA maintains Arif Habib Investments' 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 'A1' (A one) respectively. These ratings denote a low expectation of credit risk emanating f
Published 20 Apr, 2011 12:00am
Lahore's National Management College team visits TCP

Lahore's National Management College team visits TCP

Nineteen participants of 9th Senior Management Course from National Management College, Lahore, representing various occupational groups, visited Trading Corporation of Pakistan (TCP) head office. Anjum Basheer Chairman TCP welcomed the participants and b
Published 20 Apr, 2011 12:00am
'Government should establish a federal health division'

'Government should establish a federal health division'

The government should establish a Federal health division after devolution of health ministry to the federating units, this was the gist of legislative forum 'Health and the 18th Constitutional Amendment' organised by Pakistan Institute of Legislative Dev
Published 20 Apr, 2011 12:00am
Reform in the international monetary order

Reform in the international monetary order

Calls for bold reforms in the current international monetary order are becoming louder and clearer. In a meeting held in the southern Chinese island of Hainan, the leaders of Brazil, Russia, India, China and South Africa (BRICS) on 14th April, 2011 again
Published 20 Apr, 2011 12:00am
Manmohan Singh's hope and despair

Manmohan Singh's hope and despair

Nothing can, perhaps, so succinctly sum up the Indian Prime Minister Manmohan Singh's dilemma of hope and despair than his one-liner the other day: "If I can succeed in normalising relations between India and Pakistan as they should prevail between two no
Published 20 Apr, 2011 12:00am
Feeling the pulse of business sentiment

Feeling the pulse of business sentiment

The economy of Pakistan has been under scrutiny by all in the wake of the difficulties that the country is facing on many counts. Any analysis worth its name, however, needs to have the tenacity to clear through all the rubble of negative sentiment and hy
Published 20 Apr, 2011 12:00am
Pakistan's response to disaster in Japan

Pakistan's response to disaster in Japan

Natural calamities destroy all sorts of standards of prestige and ultra-nationalism created by human beings over time. A powerful nation could expect from a developing nation to assist it and vice versa. In the past, however, Japan has a history of not ac
Published 20 Apr, 2011 12:00am
Arab Revolution fuelled by a new kind of music

Arab Revolution fuelled by a new kind of music

Bombs are falling in Libya. Demonstrators are dying in Syria. Egyptians are defining the new political landscape after their revolution as Yemenis are coming under state pressure. But all of these unfolding events have one common thread that has received
Published 20 Apr, 2011 12:00am
Murder of a great leader

Murder of a great leader

On the morning of 4th of April 1979, Zulfiqar Ali Bhutto was hanged in the early hours, by the military dictator and his international accomplices. There have been many books written and analyses made during these three decades. As to why he was removed f
Published 20 Apr, 2011 12:00am
Additional tax on cell phone services

Additional tax on cell phone services

Mobile phone is no more a luxury item, rather a necessity these days. Currently, there are more than 100 million cellular subscribers in the country, suggesting that roughly 60 out of every 100 persons using the service belong to middle and lower income c
Published 20 Apr, 2011 12:00am
'OMV: an international player with Austrian roots'

'OMV: an international player with Austrian roots'

Gerhard Roiss has taken over the role of CEO at OMV Aktiengesellschaft with effect from April 01, 2011. Since 2002, Gerhard Roiss has acted as Deputy Chairman of the Executive Board and was responsible for Refining and Marketing including petrochemicals.
Published 20 Apr, 2011 12:00am
Wave of targeted killings claims three more lives

Wave of targeted killings claims three more lives

The unabated targeted killings on Tuesday claimed three more lives including an activist of Mohajir Qaumi Movement (MQM-H) in separate incidents at various parts of the metropolis. According to details, an activist of MQM-H was shot dead in the limits of
Published 20 Apr, 2011 12:00am
Verification of SIMs: Rauf for reactivation of crime bureau

Verification of SIMs: Rauf for reactivation of crime bureau

Sindh Minister for Industries and Commerce M A Rauf Siddiqui has directed the police officials to take stern action against the shopkeepers who are involved in the sale of theft cell phones and those technicians who are engaged in reactivation of the bloc
Published 20 Apr, 2011 12:00am
PTCL underground cable damaged

PTCL underground cable damaged

City District Government Karachi's work for construction of fly-over at Habib Bank Chowrangi resulted in damaging Pakistan Telecommunication Company Limited (PTCL)'s underground cable in Site area on Tuesday. According to PTCL spokesman, repair work has b
Published 20 Apr, 2011 12:00am
KESC launches drive against power theft, non-payment

KESC launches drive against power theft, non-payment

Karachi Electric Supply Company (KESC)'s ongoing anti-theft and recovery drive has entered its vital phase. The utility has decided to execute the final stroke against such premises and connections where electricity thievery and non-payment of bills has b
Published 20 Apr, 2011 12:00am
Funeral prayers of MQM, ANP activists offered

Funeral prayers of MQM, ANP activists offered

The funeral prayers of slain activists of MQM and ANP, who were gunned down on Monday in separate incidents, were offered amid airtight security, here on Tuesday. The funeral prayers of deceased Mirza Imran Baig, 28 alias Immi son of Naseem Baig, who was
Published 20 Apr, 2011 12:00am
Mutual funds industry grows by three percent in third quarter

Mutual funds industry grows by three percent in third quarter

The local mutual funds industry has increased by three percent during the third quarter (January-March) of FY11 to close at Rs 229 billion. However, the mutual fund industry has shown a decline of two percent on month-on-month basis in March 2011. On the
Published 20 Apr, 2011 12:00am
Mutual funds industry grows by three percent in third quarter

Mutual funds industry grows by three percent in third quarter

The local mutual funds industry has increased by three percent during the third quarter (January-March) of FY11 to close at Rs 229 billion. However, the mutual fund industry has shown a decline of two percent on month-on-month basis in March 2011. On the
Published 20 Apr, 2011 12:00am
Eight including woman killed in different incidents

Eight including woman killed in different incidents

At least eight persons including a woman were killed in different mishaps at various parts of the metropolis on Tuesday. According to details, a strangled body of 24-year-old married woman was found in mysterious circumstances near Lasbela roundabout in t
Published 20 Apr, 2011 12:00am
USAID-backed agriculture project meets astounding success

USAID-backed agriculture project meets astounding success

The USAID-supported Sindh Agriculture Recovery Project has met with astounding success in rehabilitating flood ravaged farmers in the province. USAID officials, including in-charge for Sindh province, Julie Koenen, and Information Officer, US Consulate Ge
Published 20 Apr, 2011 12:00am
2010 remains robust growth year for Mobilink

2010 remains robust growth year for Mobilink

Mobilink, Pakistan's market leader in cellular services and part of Orascom Telecom Holding has posted growth in revenues, EBITDA as well as subscriber base for the year 2010 as compared to 2009. According to the Full Year Earnings Release issued by OTH f
Published 20 Apr, 2011 12:00am
US MIDDAY: gold hits record above $1,500

US MIDDAY: gold hits record above $1,500

Gold futures hit an all-time high above $1,500 an ounce on Tuesday and silver surged on a combination of dollar decline, crude oil gains and worries about sovereign debt problems in Europe. After being initially pressured by technical selling, bullion ros
Published 20 Apr, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper rose close to 1 percent on Tuesday, clawing back some ground after six straight sessions of losses, helped initially by the weaker dollar, then pushed to session highs after stronger-than-forecast US housing starts. Investors remained nervous about
Published 20 Apr, 2011 12:00am
US MIDDAY: wheat climbs

US MIDDAY: wheat climbs

US wheat futures rose 2 percent on Tuesday, building on the prior day's rally for the biggest two-day advance in a month, as adverse weather threatened crops in the top producers the United States, Europe and Canada. Corn edged higher, with the strongest
Published 20 Apr, 2011 12:00am
US MIDDAY: coffee near 34-year high

US MIDDAY: coffee near 34-year high

Arabica coffee futures closed at a five-week high on Tuesday, on heavy buying by roasters, investors and the trade as the market resumed its uptrend and appeared headed for last month's 34-year high. US cocoa also finished strong with a boost from the wea
Published 20 Apr, 2011 12:00am
Gold rises towards $1,500 in European trade

Gold rises towards $1,500 in European trade

Gold hit record highs near $1,500 an ounce for a second successive day on Tuesday, with appetite for risk fragile after Standard & Poor's cut its US outlook and eurozone sovereign debt concerns simmered. Prices earlier rose to a record $1,497.86 as the do
Published 20 Apr, 2011 12:00am
Gold moves up in Asia

Gold moves up in Asia

Spot gold firmed slightly below its record high on Tuesday, as worries over sovereign debt in both Europe and the United States continued to lure investors to bullion. Spot gold gained nearly 1 percent in early trade, before trimming gains to $1,490.95 an
Published 20 Apr, 2011 12:00am
US gold hits record

US gold hits record

US gold futures rallied to a record high near $1,500 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. COMEX June gold futures settled
Published 20 Apr, 2011 12:00am
Liffe coffee higher

Liffe coffee higher

Liffe July robusta coffee closed $27 higher at $2,425 a tonne on Tuesday, supported by strength in the arabica market as ICE prices climbed toward the 34-year peak hit in March on a shortage of quality beans. Liffe August white sugar rose $3.00 to close a
Published 20 Apr, 2011 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian palm oil futures ended off three-week lows on Tuesday on short-covering although lingering worries over slower overseas demand due to large soybean crop harvest in South America continued to weigh. The benchmark July crude palm oil contract on B
Published 20 Apr, 2011 12:00am
US soyabeans up

US soyabeans up

US soybean futures ended higher on Monday, gaining ground along with corn and wheat rallies in relatively thin trading, traders said. Gains in US corn and wheat futures offset selling pressure led by sharply lower crude oil futures and weak equities marke
Published 20 Apr, 2011 12:00am
Coffee and sugar down

Coffee and sugar down

Coffee and sugar futures reversed to close lower on Monday after Standard & Poor's revised its ratings outlook on the United States to negative from stable, hitting investor confidence. Cocoa prices also finished lower in thin volume on pressure from the
Published 20 Apr, 2011 12:00am
Tokyo rubber futures at three-week low

Tokyo rubber futures at three-week low

Tokyo rubber futures fell 5 percent to a three-week low on Tuesday as a warning by Standard & Poor's to cut the United States' AAA credit rating triggered heavy stop-loss selling. Weaker oil prices also added to the downward pressure on prices, dealers sa
Published 20 Apr, 2011 12:00am
Indonesian palm oil demand seen up 80 percent by 2015

Indonesian palm oil demand seen up 80 percent by 2015

Consumption of crude palm oil (CPO) in Indonesia, the world's top producer, will rise by about 80 percent to 18.7 million tonnes by 2015, due to greater demand from downstream industries, a government official said. Southeast Asia's largest economy consum
Published 20 Apr, 2011 12:00am
Crude oil moves up

Crude oil moves up

US oil rose on Tuesday and Brent reduced losses in volatile trade as a weaker dollar and a rise in equities markets lift prices that earlier slumped on concern over sovereign debt and uncertain demand prospects. After tumbling below $120 a barrel for the
Published 20 Apr, 2011 12:00am
Copper springs back

Copper springs back

Copper rose more than 1 percent on Tuesday, clawing back some ground after six straight sessions of losses as risk sentiment improved and the focus shifted to long-term supportive fundamentals. But investors remained nervous about debt problems in the Uni
Published 20 Apr, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai's most-active copper futures contract fell 1.9 percent to 69,720 yuan a tonne on Tuesday. China's factory expansion stabilised in April, with the HSBC flash manufacturing purchasing managers' index (PMI) at 51.8 in April, unchanged from the final
Published 20 Apr, 2011 12:00am
US copper down

US copper down

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 20 Apr, 2011 12:00am
With eye to Japan, world pledges cash for Chernobyl

With eye to Japan, world pledges cash for Chernobyl

World powers, spurred by the nuclear crisis in Japan, pledged 550 million euros ($780 million) on Tuesday to help build a new containment shell at the site of the 1986 Chernobyl accident. Ukraine had hoped for 740 million euros from governments and intern
Published 20 Apr, 2011 12:00am
UN wants truce as 20 children killed in Misrata

UN wants truce as 20 children killed in Misrata

The United Nations appealed on Tuesday for a cease-fire in the Libyan city of Misrata, saying at least 20 children had been killed in attacks by besieging government forces on rebel-held parts of the city. Libya's third city, where hundreds are believed t
Published 20 Apr, 2011 12:00am
UK sending military advisers to help Libyan rebels

UK sending military advisers to help Libyan rebels

Britain said on Tuesday it would send military officers to help Libyan rebels organise, a step likely to anger critics who say the West is abusing a UN resolution to use force to protect civilians. London said it would send officers, believed to number ab
Published 20 Apr, 2011 12:00am
Turkey's Kurds in uproar over election vetoes

Turkey's Kurds in uproar over election vetoes

Kurdish crowds clashed with riot police in street demonstrations Tuesday after Turkey's electoral board barred prominent Kurdish candidates from standing in upcoming elections. About 3,000 people gathered in Diyarbakir, the largest city of the mainly Kurd
Published 20 Apr, 2011 12:00am
US cracks down on North Korean bank, cites Iran ties

US cracks down on North Korean bank, cites Iran ties

The United States slapped sanctions on a North Korean bank on Tuesday, accusing it of having ties to the arms trade and Iran, the Treasury Department said. Treasury sanctions czar David Cohen said the Bank of East Land was linked to North Korea's intellig
Published 20 Apr, 2011 12:00am
Suspicious package near US Supreme Court

Suspicious package near US Supreme Court

Streets near the US Supreme Court building in Washington were evacuated due to a suspicious package on Tuesday, police said. US Capitol Police are investigating an unattended stroller near the building, and a bomb squad is on the scene, spokeswoman Kimber
Published 20 Apr, 2011 12:00am
Infrastructure cyberattack fears on the rise

Infrastructure cyberattack fears on the rise

Cyber threats such as Stuxnet pose an increasing risk to critical infrastructure but many facilities around the world are unprepared to face the danger, according to a report released on Tuesday. "We found that the adoption of security measures in importa
Published 20 Apr, 2011 12:00am
Syrian government approves lifting emergency law

Syrian government approves lifting emergency law

Syria's government approved on Tuesday a bill to rescind a decades-old emergency law and agreed to abolish the state security court, after weeks of pro-democracy protests and hundreds of deaths. The cabinet also approved a bill regulating demonstrations,
Published 20 Apr, 2011 12:00am
US helped Israel contain UN Gaza war probes

US helped Israel contain UN Gaza war probes

The United States worked behind the scenes to help Israel contain UN probes into possible war crimes committed during the 2008-2009 Gaza war, Foreign Policy reported Tuesday. The online foreign affairs magazine cited exclusive WikiLeaks cables detailing m
Published 20 Apr, 2011 12:00am
Bodies in streets after Nigeria election riots

Bodies in streets after Nigeria election riots

Medics in northern Nigeria on Tuesday treated hundreds of victims of rioting against President Goodluck Jonathan's election victory, some of them children with gunshot and machete wounds. The Red Cross said many people were killed, hundreds injured and th
Published 20 Apr, 2011 12:00am
Helicopter crashes in India killing 17 tourists

Helicopter crashes in India killing 17 tourists

A helicopter packed with Indian tourists crashed on Tuesday in mountains near the Chinese border and 17 people were killed, police said. The helicopter was carrying 23 people and caught fire as it was preparing to land in the north-eastern state of Arunan
Published 20 Apr, 2011 12:00am
Muslim group plans British royal wedding protest

Muslim group plans British royal wedding protest

A group called Muslims Against Crusades has applied for permission to protest outside Westminster Abbey on the day of the royal wedding, British police said Tuesday. The force has rejected the request as they have the power to ban protests along the main
Published 20 Apr, 2011 12:00am
Singapore dissolves parliament

Singapore dissolves parliament

Singapore's President S.R. Nathan dissolved parliament on Tuesday, paving the way for a general election which must be held within three months. Nathan made the move on the advice of Prime Minister Lee Hsien Loong, according to a statement issued by the p
Published 20 Apr, 2011 12:00am
EU warns telecom firms against blocking Skype

EU warns telecom firms against blocking Skype

The European Commission launched a probe Tuesday into charges that telecom firms block next-to-free Internet phone services to undermine competitors or degrade the quality of online videos. With the proliferation of smart phones putting the Internet in th
Published 20 Apr, 2011 12:00am
West Indies, Pakistan set to launch T20 series

West Indies, Pakistan set to launch T20 series

Old foes West Indies and Pakistan face each other in a Twenty20 International for the first time on Thursday. The Beausejour Cricket Ground in this coastal town on the northern circumference of this volcanic island of St Lucia forms a picturesque backdrop
Published 20 Apr, 2011 12:00am
Haynes answers West Indies' call for batting help

Haynes answers West Indies' call for batting help

West Indies have been able to persuade Desmond Haynes, one of their legends, to become a batting consultant for the current side. The West Indies Cricket Board announced on Monday that Haynes will work with Darren Sammy's side for the duration of the home
Published 20 Apr, 2011 12:00am
GCU vice chancellor gives away cash prizes to sportsmen, coaches

GCU vice chancellor gives away cash prizes to sportsmen, coaches

The Government College University Lahore hosted the 5th Higher Education Commission (HEC) cash prize distribution ceremony to recognise the efforts of as many as 73 talented sportsmen who performed exceptionally well at the National Games. GCU Vice Chance
Published 20 Apr, 2011 12:00am
Hafeez leads Pakistan to win in tour opener

Hafeez leads Pakistan to win in tour opener

Mohammad Hafeez retired out on 101 to lay the foundation for a 68-run victory for Pakistan in the opening match of their Caribbean tour against the University of the West Indies Vice Chancellor's XI on Monday. The stand-in Pakistan captain struck 10 fours
Published 20 Apr, 2011 12:00am
Sohal, Sangakkara shape Deccan win

Sohal, Sangakkara shape Deccan win

Little-known opener Sunny Sohal hit a half-century and Kumar Sangakkara made a solid 49 to set up Deccan Chargers' 16-run win over Delhi Daredevils in the Indian Premier League on Tuesday. Sohal top-scored with an impressive 62 as Deccan posted a competit
Published 20 Apr, 2011 12:00am
Wimbledon champs get prize money boost

Wimbledon champs get prize money boost

Wimbledon's singles champions will benefit from a prize money rise taking their earnings to £1.1 million ($2.9 million) at the 2011 Championships, organisers announced on Tuesday. If men's champion Rafael Nadal and women's winner Serena Williams successfu
Published 20 Apr, 2011 12:00am
Zaheer suggests stadium to be build at Wagah border

Zaheer suggests stadium to be build at Wagah border

Batting legend Zaheer Abbas said Tuesday that a new stadium should be built straddling the India-Pakistan border as a way of reviving cricket relations between the arch rivals. Abbas, a Pakistani who - unusually - is also hugely popular in India for his b
Published 20 Apr, 2011 12:00am
Sri Lanka appoint batting coach

Sri Lanka appoint batting coach

Former captain Marvan Atapattu has been appointed as Sri Lanka's batting coach, the cricket board said on Tuesday. Atapattu, 40, joins interim coach Stuart Law for next month's tour of England, where Sri Lanka will play three Tests, five one-day internati
Published 20 Apr, 2011 12:00am
ICC to review controversial 2015 World Cup format

ICC to review controversial 2015 World Cup format

The controversial decision to restrict the 2015 World Cup to only the 10 full members will be reconsidered by International Cricket Council's (ICC) executive board in June, the governing body said on Tuesday. In an April 4 meeting in Mumbai, the board had
Published 20 Apr, 2011 12:00am
Kashima draw in emotional Japan return

Kashima draw in emotional Japan return

Japan's Kashima Antlers were held 1-1 by Suwon Bluewings in the AFC Champions League Tuesday in their first appearance on home soil since last month's devastating earthquake. Kashima were forced to play in Tokyo's National Stadium after their own ground w
Published 20 Apr, 2011 12:00am
Murray pulls out of Barcelona

Murray pulls out of Barcelona

World number four Andy Murray pulled out of the Barcelona Open on Tuesday due to an elbow injury. "Under advice from medical experts I have had to withdraw from the Barcelona tournament due to a right elbow injury," the Briton, seeded second for the clay
Published 20 Apr, 2011 12:00am
Swiss franc eases versus euro

Swiss franc eases versus euro

The Swiss franc eased from a one-month peak against the euro on Tuesday, with traders taking profits following hawkish comments by a European Central Bank policymaker. The European Central Bank needs to remain "very alert" on inflation dangers to avoid fa
Published 20 Apr, 2011 12:00am
Short-term rates up on hawkish ECB talk

Short-term rates up on hawkish ECB talk

Key euro zone interbank rates rose further on Tuesday on expectations of at least two more interest rate hikes by the year-end although a worsening of the region's debt crisis could force a scale back of those bets. Money markets were unfazed for now by s
Published 20 Apr, 2011 12:00am
Asian currencies fall

Asian currencies fall

The South Korean won and the Indian rupee led Asian currencies lower on Tuesday as investors took profits amid a drop in the stock market, but losses in the region were limited by exporters and a view that their bullish trend remains intact.
Published 20 Apr, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Tuesday, but recovered from a two-and-a-half week low aided by dollar sales by some corporates and a rebound in the euro. A late session turnaround in choppy domestic equities also supported the local unit. See for stories on
Published 20 Apr, 2011 12:00am
Australian and New Zealand dollars slip

Australian and New Zealand dollars slip

The Australian and New Zealand dollars slipped on the US dollar and yen on Tuesday as falling stocks, escalating euro debt woes and a credit warning for US debt sparked a wave of risk aversion. It last traded at $1.0467, from $1.0510 in New York and a hig
Published 20 Apr, 2011 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 72.78/72.86 (previous 72.79/72.88). Call Money Rates: 6.00-12.00 percent (previous 6.00-12.00 percent).
Published 20 Apr, 2011 12:00am
Euro sinks in New York

Euro sinks in New York

The euro slid more than 1 percent against the dollar on Monday, suffering its worst one-day drop since November on mounting concerns that Greece will be forced to restructure its debt. Rampant risk aversion generally weighed on the eurozone's single curre
Published 20 Apr, 2011 12:00am
Early trade in New York: Euro rebound

Early trade in New York: Euro rebound

Solid eurozone economic data helped the euro rebound against the dollar on Tuesday after its worst day in five months but nagging worries about debt troubles in Greece looked set to keep the single currency vulnerable. The euro climbed above $1.43, well o
Published 20 Apr, 2011 12:00am
Euro recovers in London

Euro recovers in London

The euro rose against the dollar on Tuesday as it recovered from the previous day's selloff, but debt problems in the eurozone continued to weigh on the single currency, keeping it vulnerable to more losses. The euro was up 0.5 percent at $1.4309, nudging
Published 20 Apr, 2011 12:00am
Yen rises in Asia

Yen rises in Asia

The yen edged higher in Asia on Tuesday as more market players cut back on carry trades, but the move will likely be short-lived as hedge funds and Japanese life insurers positioned for the yen to resume its slide before long. Risky assets were hit by a d
Published 20 Apr, 2011 12:00am
Sterling slips

Sterling slips

Sterling gave back ground to a broadly firmer euro on Tuesday which recovered from the previous day's sell off, though the pound was likely to be supported in the medium term as markets focused on fiscal consolidation. Sterling had risen over one percent
Published 20 Apr, 2011 12:00am
Yuan lower

Yuan lower

The yuan closed lower against the dollar on Tuesday after the People's Bank of China set a slightly weaker mid-point to take into account the global dollar rally overnight. The pullback came after the PBOC engineered a series of record highs for the yuan
Published 20 Apr, 2011 12:00am
Nasdaq, ICE sweeten bid for NYSE Euronext

Nasdaq, ICE sweeten bid for NYSE Euronext

US securities exchanges Nasdaq and ICE said Tuesday they had boosted their bid to buy NYSE Euronext in a battle to top a rival offer from Deutsche Boerse and create the world's biggest exchange. The NASDAQ OMX and ICE cash-and-stock bid values NYSE Eurone
Published 20 Apr, 2011 12:00am
Wall Street falls on sovereign debt fears

Wall Street falls on sovereign debt fears

Wall Street fell more than 1 percent on Monday as sovereign debt fears on both sides of the Atlantic and China's monetary tightening hurt the outlook for global economic growth. However, equities ended off their lows as some analysts said the sell-off was
Published 20 Apr, 2011 12:00am
Tuesday's midday trade: Wall Street flat

Tuesday's midday trade: Wall Street flat

US stocks were little changed on Tuesday as sliding revenue in financial companies pointed to a struggling economy. Earnings from healthcare company Johnson & Johnson and a stronger-than-expected reading in housing starts buoyed specific sectors, but the
Published 20 Apr, 2011 12:00am
Nikkei hits three-week low

Nikkei hits three-week low

Tokyo stocks hit a three-week low on Tuesday after chipmaker Texas Instruments warned the impact from Japan's earthquake last month would result in slower sales growth and after the yen climbed on Standard & Poor's threat to cut its US credit rating.
Published 20 Apr, 2011 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares slipped on Tuesday weighed by substantial falls in shipbuilders like Hyundai Heavy Industries after news of POSCO's steel price hikes, but LG Display's rally capped losses. The Korea Composite Stock Price Index (KOSPI) ended down 0.7 percent
Published 20 Apr, 2011 12:00am
Luxury groups lead European share rally

Luxury groups lead European share rally

Upbeat corporate results helped European shares to rebound on Tuesday from hefty falls a day earlier, led by strong sales figures from luxury goods groups. The pan-European FTSEurofirst 300 index of top shares closed up 0.4 percent at 1,117.10 points, rec
Published 20 Apr, 2011 12:00am
Most Southeast Asian stocks down

Most Southeast Asian stocks down

Most Southeast Asian stock markets lost ground on Tuesday after ratings-agency Standard & Poor's downgraded the US credit outlook to negative, but Thailand and Indonesia bucked the trend as some investors scouted for emerging-market bargains. Singapore en
Published 20 Apr, 2011 12:00am
Miners lead FTSE rebound; Burberry boosted

Miners lead FTSE rebound; Burberry boosted

Strength in oversold commodity issues fuelled a modest rally by Britain's top share index on Tuesday, while sovereign debt worries continued to dog banking stocks. At the close, the FTSE 100 index was up 26.79 points, or 0.5 percent at 5,896.87, having dr
Published 20 Apr, 2011 12:00am
Hong Kong, Chinese stocks fall

Hong Kong, Chinese stocks fall

Hong Kong stocks traded lower on Tuesday, weighed by property and energy shares, as weak global markets gave investors further reason to take money off the table, following a warning on the United States' credit rating. Standard & Poor's on Monday lowered
Published 20 Apr, 2011 12:00am
10-year note rates touch lowest in three weeks

10-year note rates touch lowest in three weeks

The United States dodged a bullet from the bond market on Monday, as investors resisted the temptation to dump Treasuries after Standard & Poors warned Washington it could lose its top-notch credit rating. Instead bond prices posted solid gains, including
Published 20 Apr, 2011 12:00am
10-year note rates touch lowest in three weeks

10-year note rates touch lowest in three weeks

The United States dodged a bullet from the bond market on Monday, as investors resisted the temptation to dump Treasuries after Standard & Poors warned Washington it could lose its top-notch credit rating. Instead bond prices posted solid gains, including
Published 20 Apr, 2011 12:00am
Indian shares snap two-day fall

Indian shares snap two-day fall

Indian shares eked out a 0.2 percent gain on Tuesday after falling for two consecutive sessions, but trading was volatile and the near-term outlook seemed subdued as investors shunned risk after rating agency Standard & Poor's lowered its US credit outloo
Published 20 Apr, 2011 12:00am
Middle East markets: Egypt's index rebounds

Middle East markets: Egypt's index rebounds

Egypt's main index ended higher on Tuesday as investor interest in battered blue chips returned after a widening graft crackdown, while most Gulf Arab markets corrected after recent rally. Egypt's index gained 2.5 percent with EFG-Hermes and Egyptian Reso
Published 20 Apr, 2011 12:00am
Japan confident in US debt, China demands protection

Japan confident in US debt, China demands protection

China told Washington on Tuesday to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States, while Japan voiced confidence in US Treasuries. S&P slapped a negative outlook on the United States' top-
Published 20 Apr, 2011 12:00am
Japan confident in US debt, China demands protection

Japan confident in US debt, China demands protection

China told Washington on Tuesday to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States, while Japan voiced confidence in US Treasuries. S&P slapped a negative outlook on the United States' top-
Published 20 Apr, 2011 12:00am
Apple sues Samsung, says stop copying us

Apple sues Samsung, says stop copying us

Apple Inc sued Samsung Electronics claiming the South Korean firm's Galaxy line of mobile phones and tablets "slavishly" copies the iPhone and iPad, according to court papers, a move analysts say is aimed at keeping its close rivals at bay.
Published 20 Apr, 2011 12:00am
India's export surges to record high

India's export surges to record high

India's exports surged to record high growth in the fiscal year 2010/11, but uncertainty over the global economy and a ballooning import bill mean concerns persist over the trade deficit of one of the world's fastest-growing economies. India's merchandise
Published 20 Apr, 2011 12:00am
Japan consumer confidence falls after quake

Japan consumer confidence falls after quake

Japanese consumer confidence fell in March from the previous month to its lowest since June 2009 as a record earthquake, tsunami and a nuclear emergency cast a shadow over the economy. Analysts said the data bolstered the view that the March 11 disasters
Published 20 Apr, 2011 12:00am
New report reveals madness at root of Irish crisis

New report reveals madness at root of Irish crisis

A third and final probe into Ireland's banking crisis reads like a psychologist's report. Groupthink, herding and a "national speculative mania" are all cited as explanations for why Irish banks' reckless lending went unchecked, leading to devastating con
Published 20 Apr, 2011 12:00am
Germany steps up pressure on Greek restructuring

Germany steps up pressure on Greek restructuring

A German government adviser said on Tuesday that a restructuring of Greek debt was inevitable, raising pressure on Athens to seek a solution to the debt woes that are shaking investor confidence in the eurozone. Greek borrowing costs rose and foreign dema
Published 20 Apr, 2011 12:00am
Germany steps up pressure on Greek restructuring

Germany steps up pressure on Greek restructuring

A German government adviser said on Tuesday that a restructuring of Greek debt was inevitable, raising pressure on Athens to seek a solution to the debt woes that are shaking investor confidence in the eurozone. Greek borrowing costs rose and foreign dema
Published 20 Apr, 2011 12:00am
US home building rises, foreclosures a threat

US home building rises, foreclosures a threat

US home building and permits for future construction rebounded strongly last month from February's weather-depressed levels, but a glut of housing on the market will make further gains difficult. Housing starts rose 7.2 percent to an annual rate of 549,00
Published 20 Apr, 2011 12:00am
Goldman profit drops

Goldman profit drops

Goldman Sachs Group Inc posted a 72 percent decline in quarterly earnings as trading revenue dropped, and the bank warned there were fewer opportunities to make money in the current environment. The results were stronger than many analysts had expected, b
Published 20 Apr, 2011 12:00am
Goldman profit drops

Goldman profit drops

Goldman Sachs Group Inc posted a 72 percent decline in quarterly earnings as trading revenue dropped, and the bank warned there were fewer opportunities to make money in the current environment. The results were stronger than many analysts had expected, b
Published 20 Apr, 2011 12:00am
Geithner says 'no risk' US will lose AAA rating

Geithner says 'no risk' US will lose AAA rating

US Treasury Secretary Timothy Geithner went on the offensive one day after Standard & Poor's threatened to downgrade its top-tier rating on US government debt, saying there was "no risk" of a loss of the coveted rating. Prospects for a deficit reduction d
Published 20 Apr, 2011 12:00am
Geithner says 'no risk' US will lose AAA rating

Geithner says 'no risk' US will lose AAA rating

US Treasury Secretary Timothy Geithner went on the offensive one day after Standard & Poor's threatened to downgrade its top-tier rating on US government debt, saying there was "no risk" of a loss of the coveted rating. Prospects for a deficit reduction d
Published 20 Apr, 2011 12:00am
Eurozone flash PMIs remain strong, prices race up

Eurozone flash PMIs remain strong, prices race up

Growth in the eurozone services sector slowed slightly this month but factories ramped up production as prices rose at the fastest monthly rate in three years, business surveys showed on Tuesday. The April Purchasing Managers Indexes from Markit also high
Published 20 Apr, 2011 12:00am
Regional banks post gains; loan losses ease

Regional banks post gains; loan losses ease

US regional banks Regions Financial Corp and US Bancorp reported better-than-expected first-quarter earnings on Tuesday as they paid less for deposits and had fewer delinquent borrowers. Minneapolis-based US Bancorp beat analysts' expectations, earning ju
Published 20 Apr, 2011 12:00am
Petronas sells Cairn stake for $2.1 billion

Petronas sells Cairn stake for $2.1 billion

Malaysia's state energy firm Petronas said Tuesday it had sold its near 15-percent stake in Cairn India for $2.1 billion, with a media report saying British company Vedanta was the buyer. "The transaction brings to a close a successful association as a sh
Published 20 Apr, 2011 12:00am
Only a few changes seen on grain market

Only a few changes seen on grain market

A few changes were seen on the wholesale grain market on Monday in process of trading, dealers said. On the cereal side wheat Bardan old was quoted at Rs 2350 and new quality was registered at Rs 2365, other items did not show any change due to balanced d
Published 20 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was lower and July contract was inert on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The May vaida that had closed at Rs 1329.80 opened with a loss of 40 paisa at Rs 1329.40. The July contract which
Published 20 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 96,176 tonnes of cargo including 71,797 tonnes of import cargo and 24,379 tonnes of export cargo during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 71,797 tonnes comprised of 30,201 tonnes of containeri
Published 20 Apr, 2011 12:00am
HRW wheat export premiums firm

HRW wheat export premiums firm

Export premiums for hard red winter wheat at the US Gulf Coast were steady to firm on Monday, underpinned by moderate demand and concerns about weather-reduced output in some key production areas, traders said. Soft red winter wheat export premiums were f
Published 20 Apr, 2011 12:00am
India asks sugar mills to register for exports

India asks sugar mills to register for exports

India, which has allowed exports of 500,000 tonnes of sugar following a bumper crop, has asked mills to register starting Tuesday, a source in the food ministry said. The official, who is directly involved in the decision making process, said permission w
Published 20 Apr, 2011 12:00am
China may cancel more soyabean orders: Oil World

China may cancel more soyabean orders: Oil World

Chinese soyabean importers may seek to cancel or delay more soyabean shipments as the government sells its soyabean stocks cheaply, which could pressure global prices, Hamburg-based oilseeds analysts Oil World said on Tuesday. China confirmed cancellation
Published 20 Apr, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 20 Apr, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 20 Apr, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (April 19, 2011).

Published 20 Apr, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (April 19, 2011).

Published 20 Apr, 2011 12:00am
Washington urges Islamabad to continue reforms

Washington urges Islamabad to continue reforms

The United States on Monday encouraged Pakistan, recipient of billions of US aid dollars in recent years, to "continue efforts" on its economic reforms, according to a joint statement. "The United States recognised the measures that Pakistan implemented i
Published 20 Apr, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (April 19, 2011).

Published 20 Apr, 2011 12:00am
Washington urges Islamabad to continue reforms

Washington urges Islamabad to continue reforms

The United States on Monday encouraged Pakistan, recipient of billions of US aid dollars in recent years, to "continue efforts" on its economic reforms, according to a joint statement. "The United States recognised the measures that Pakistan implemented i
Published 20 Apr, 2011 12:00am
Washington urges Islamabad to continue reforms

Washington urges Islamabad to continue reforms

The United States on Monday encouraged Pakistan, recipient of billions of US aid dollars in recent years, to "continue efforts" on its economic reforms, according to a joint statement. "The United States recognised the measures that Pakistan implemented i
Published 20 Apr, 2011 12:00am
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