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Archive - 2011-04-23
NATO supply route re-opens
Top News

NATO supply route re-opens

PESHAWAR: NATO can resume supplying its troops in Afghanistan through a key route on Monday after protesters against US
Published 23 Apr, 2011 07:00pm
Appointment of Ali Raza as Chairman NBP
Top News

Appointment of Ali Raza as Chairman NBP

ISLAMABAD: The Business community has welcomed the appointment of prominent banker Syed Ali Raza as Chairman Board of Di
Published 23 Apr, 2011 04:55pm
SPI registers nominal increase of 0.11pc
Top News

SPI registers nominal increase of 0.11pc

ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on April 21 for the lowest income group up to Rs.3,00
Published 23 Apr, 2011 08:57am
SBP mops up Rs41.15bn
Top News

SBP mops up Rs41.15bn

KARACHI: The State Bank of Pakistan (SBP) Saturday conducted open market operation and mopped up Rs 41.15 billion. Ac
Published 23 Apr, 2011 07:11am
Gillard must set example in China
Asia

Gillard must set example in China

SYDNEY: Australian premier Julia Gillard must set an international example and tackle China on human rights rather than
Published 23 Apr, 2011 04:52am
Naek, Jamali condemn Karachi blast

Naek, Jamali condemn Karachi blast

Chairman Senate Farooq H Naek and Deputy Chairman Senate Mir Jan Muhammad Khan Jamali on Friday strongly condemned the bomb blast at Rami club in Karachi which caused loss to the lives and properties of the people. While terming it a cowardly act, the cha
Published 23 Apr, 2011 12:00am
Gold soars to lifetime high in Asia

Gold soars to lifetime high in Asia

Spot gold surged to a lifetime high on Friday in thin holiday trade, hitting a record for a sixth consecutive session on a weak dollar and factors ranging from geopolitical uncertainty to inflation concerns. Silver also raced to its loftiest in 31 years,
Published 23 Apr, 2011 12:00am
US gold hits record for fifth session

US gold hits record for fifth session

US gold futures rallied to record highs on Thursday for a fifth straight session and silver surged, as the dollar index tumbled for a third day toward an all-time low, prompting investors to buy bullion as a currency hedge. COMEX June gold futures settled
Published 23 Apr, 2011 12:00am
Bangladesh offers rice farmers free fertiliser

Bangladesh offers rice farmers free fertiliser

Bangladesh, which has recently become a big rice importer, will provide free fertiliser to farmers as part of efforts to boost rice output, a senior agriculture official said on Friday. The stimulus package, worth 350 million taka ($5 million), would help
Published 23 Apr, 2011 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures ended 1.6 percent higher on Friday, supported by firm oil prices, but the upside was still capped by profit-taking, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for September delivery rose 6.7 yen, or 1.
Published 23 Apr, 2011 12:00am
Gold to rise to $1,700 in 2015, momentum slowing

Gold to rise to $1,700 in 2015, momentum slowing

Gold's decade-long bull run could continue in the next four years, though at a slower pace, with positive inflation risks partially cooled by a shift towards more normal economic conditions, analysts polled by Reuters said on Thursday. The median forecast
Published 23 Apr, 2011 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian palm oil futures rose to more than a one-week high on Friday, lifted by strong technical buying although traders said the market could come under pressure next week from weak demand and top producer Indonesia cutting export taxes.
Published 23 Apr, 2011 12:00am
Vietnam retains low fee on coffee

Vietnam retains low fee on coffee

Vietnam's Finance Ministry has kept unchanged the fee collected on each tonne of coffee exports at $0.40 for 2011, much lower than that sought by the country's industry body, which aims to ensure sustainable development of the coffee sector. The fee, on p
Published 23 Apr, 2011 12:00am
High oil price slows China, US demand: IEA

High oil price slows China, US demand: IEA

High oil prices have hurt demand in top consumers China and the United States, and Opec needs to be prepared to raise output around June to stem further price rises, the International Energy Agency's executive director said on Wednesday. The IEA has alrea
Published 23 Apr, 2011 12:00am
Shanghai copper little changed

Shanghai copper little changed

Shanghai copper was little changed on Friday, ignoring London's gains in the previous session, as the lacklustre physical market dampened market sentiment and investors await clear direction. A strike by Shanghai's truck drivers in the city's busy harbour
Published 23 Apr, 2011 12:00am
US copper rallies

US copper rallies

Copper rallied to its highest in more than a week on Thursday, as supply concerns, a tumbling US dollar, and signs that economic growth has taken deeper root in the United States all contributed to its gains. Many investors looked past data showing a larg
Published 23 Apr, 2011 12:00am
Arabica drifts from 34-year high, cocoa eases

Arabica drifts from 34-year high, cocoa eases

ICE arabica coffee futures closed weak on Thursday, after Wednesday's 34-year high was viewed as overdone, while cocoa fell in thin volume as dealers squared positions before the Easter holiday break. Sugar inched higher in rangebound business.
Published 23 Apr, 2011 12:00am
Oil prices to ease in second-half

Oil prices to ease in second-half

Crude oil prices are expected to fall to an average of $108 a barrel in the third quarter, a Reuters poll showed on Thursday, as analysts expect current highs around $124 to dent demand and economic growth. While analysts increased their forecast by aroun
Published 23 Apr, 2011 12:00am
CERN marks advance in universe mysteries search

CERN marks advance in universe mysteries search

Scientists at the CERN physics research centre reported on Friday that they had smashed particles together at a record intensity in a key advance in their programme to unveil mysteries of the universe. The development came in the early hours after they fe
Published 23 Apr, 2011 12:00am
Four army personnel die in India chopper crash

Four army personnel die in India chopper crash

At least four army personnel were killed after a military helicopter crashed in India's north-eastern state of Sikkim, news reports said Friday. The locally-built Advanced Light Helicopter Dhruv went missing hours after it took off on a routine training e
Published 23 Apr, 2011 12:00am
Landslide in Philippine mining area kills 27

Landslide in Philippine mining area kills 27

A landslide caused by heavy rains buried shanty houses in a mining area on a southern Philippine island, killing at least 27 and leaving dozens of people missing, local disaster and security forces officials said on Friday. The landslide hit before dawn i
Published 23 Apr, 2011 12:00am
Crowds rally in Yemen for and against Saleh

Crowds rally in Yemen for and against Saleh

Yemenis flooded the streets of Sanaa and Taiz on Friday in rival demonstrations for and against President Ali Abdullah Saleh, who gave a guarded welcome to a Gulf Arab plan for a three-month transition of power. He told supporters in Sanaa any arrangement
Published 23 Apr, 2011 12:00am
Egyptian protesters want former police governors to resign

Egyptian protesters want former police governors to resign

Thousands of Egyptians on Friday demanded the sacking of three provincial governors who had served in the police force of deposed President Hosni Mubarak, testing the authority of the new government. The biggest protest was held in Qena province in southe
Published 23 Apr, 2011 12:00am
Biden, Putin discuss trade, missile defence

Biden, Putin discuss trade, missile defence

US Vice President Joe Biden and Russian Prime Minister Vladimir Putin on Thursday discussed Moscow's goal of joining the World Trade Organisation and missile defence co-operation, the White House said. Biden and Putin talked about "the Obama administratio
Published 23 Apr, 2011 12:00am
Tens of millions live in nuclear 'danger zone'

Tens of millions live in nuclear 'danger zone'

Some 90 million people world-wide live within 30 kilometres (18.6 miles) of a nuclear reactor, equivalent to the exclusion zone around Japan's crippled Fukushima plant, a study released Friday shows. The United States alone has nearly 16 million people wi
Published 23 Apr, 2011 12:00am
Iraq must decide in 'weeks' on US troops: Mullen

Iraq must decide in 'weeks' on US troops: Mullen

Iraq has only weeks to decide if it wants to keep US troops beyond an end-2011 deadline for their withdrawal, the top US military officer said on Friday in Baghdad following talks with Iraq's prime minister. The comments by Admiral Mike Mullen, chairman o
Published 23 Apr, 2011 12:00am
US court reinstates Blackwater Iraq shooting case

US court reinstates Blackwater Iraq shooting case

A US federal judge erred in dismissing all charges against five Blackwater World-wide security guards accused of killing 14 Iraqi civilians in 2007, an appeals court ruled on Friday. The unanimous three-judge panel reinstated the charges and sent the case
Published 23 Apr, 2011 12:00am
Protesters stage large Oman pro-reform demonstration

Protesters stage large Oman pro-reform demonstration

Some 3,000 protesters took to the streets after Friday prayers in Oman's southern port of Salalah in one of the biggest pro-reform demonstrations since scattered unrest began in the sultanate two months ago. Instead of conducting prayers in a mosque, a pr
Published 23 Apr, 2011 12:00am
Thai, Cambodian troops in deadly border clash

Thai, Cambodian troops in deadly border clash

Thai and Cambodian soldiers fought with rocket-propelled grenades and guns on their disputed border on Friday in a clash that killed six soldiers in the first major flare-up since a shaky cease-fire in February. Both countries evacuated thousands of villa
Published 23 Apr, 2011 12:00am
Former UBS client, 80, sentenced in tax evasion case

Former UBS client, 80, sentenced in tax evasion case

An 80-year-old New York man who was once a UBS AG client was sentenced to two years probation for filing false US income tax returns and conspiring to hide $4.9 million at the Swiss bank, federal prosecutors said. Ernest Vogliano, the defendant, pleaded g
Published 23 Apr, 2011 12:00am
Termites eat millions of rupees in Indian bank

Termites eat millions of rupees in Indian bank

Termites devoured millions of rupees at a bank in India's northern state of Uttar Pradesh, a news report said Friday. Officials at the State Bank of India in Barabanki district's Fatehpur were shocked to find mutilated notes on opening the bank's vault, t
Published 23 Apr, 2011 12:00am
Malinga quits Tests

Malinga quits Tests

Injury-prone Sri Lanka paceman Lasith Malinga on Friday quit Test cricket in a bid to prolong his career in One-day internationals and Twenty20 matches. Malinga is playing for Mumbai Indians in the Indian Premier League and had recently made himself unava
Published 23 Apr, 2011 12:00am
Wozniacki eases into Stuttgart semis

Wozniacki eases into Stuttgart semis

World number one Caroline Wozniacki survived an early scare to win 10 straight games and crush German Andrea Petkovic 6-4 6-1 on Thursday for a spot in the last four of the Stuttgart Grand Prix. Wozniacki, already a winner of three titles this year, will
Published 23 Apr, 2011 12:00am
Real calls up sub for damaged Cup

Real calls up sub for damaged Cup

Real Madrid have put a replica of the King's Cup on display at their stadium after the original was crushed during celebrations following Wednesday's 1-0 extra time final win over Barcelona. The owner of the Madrid jewellery shop that made Spain's most tr
Published 23 Apr, 2011 12:00am
Railway Cricket Academy launched

Railway Cricket Academy launched

Railway Cricket Academy has been formally launched on Friday in a bid to groom the talent within the organisation to produce talented cricketers. While addressing the inaugural ceremony of the Railway Cricket Academy at Railway School and College Engine S
Published 23 Apr, 2011 12:00am
Parker named England's Footballer of the Year

Parker named England's Footballer of the Year

West Ham United midfielder Scott Parker was named England's Footballer of the Year on Friday after one of the closest votes for years. Parker topped the Football Writers' Association poll of journalists to win the oldest award of its type, which dates bac
Published 23 Apr, 2011 12:00am
Bishoo sends Pakistan to defeat

Bishoo sends Pakistan to defeat

Leg-spinner Devendra Bishoo captured four wickets while Lendl Simmons composed a fluent 65 as West Indies beat Pakistan by seven runs in their inaugural Twenty20 international on Thursday. Umar Akmal led the way with 41, Asad Shafiq made 25, and Saeed Ajm
Published 23 Apr, 2011 12:00am
Gayle fires Bangalore to win with century

Gayle fires Bangalore to win with century

Chris Gayle hammered an unbeaten 102 off just 55 balls to power Royal Challengers Bangalore to a nine-wicket victory over Kolkata Knight Riders in the Indian Premier League (IPL) on Friday. The West Indies batsman cracked seven sixes and 10 fours in a sup
Published 23 Apr, 2011 12:00am
World Cup Football Qualifier: PFF approves 42 players for camp

World Cup Football Qualifier: PFF approves 42 players for camp

Pakistan Football Federation (PFF) President has approved 42 players in the build up for National Football team for appearance in 20th World Cup Qualifier and two-match return leg tour of Palestine. Nabil Aslam, a Danish footballer of Pakistani descent wh
Published 23 Apr, 2011 12:00am
India's FX reserves down

India's FX reserves down

India's foreign exchange reserves fell to $307.917 billion as of April 15 from $308.203 billion in the previous week, the central bank said in its weekly statistical supplement on Friday. Changes in foreign currency assets, expressed in dollar terms, incl
Published 23 Apr, 2011 12:00am
Zloty down on rates shift, leu up on IMF

Zloty down on rates shift, leu up on IMF

The Polish zloty weakened against the euro on Friday in Easter trade as prospects of a May interest rate hike dimmed, while an upcoming International Monetary Fund aid review bolstered Romania's leu. Other emerging European currencies were steady against
Published 23 Apr, 2011 12:00am
Canadian dollar softens

Canadian dollar softens

The Canadian dollar closed slightly lower against the greenback on Thursday, with many traders selling to lock in gains on long positions after the currency soared to a 3-1/2 year high earlier in the day. The Canadian unit jumped as high as C$0.9455 to th
Published 23 Apr, 2011 12:00am
Dollar falls across the board

Dollar falls across the board

The dollar tumbled for a third straight day on Thursday as record low interest rates and the crushing weight of the US budget deficit pushed it closer to an all-time trough against major currencies. The dollar's slide accelerated days after Standard & Poo
Published 23 Apr, 2011 12:00am
Won steadies in thin trade

Won steadies in thin trade

The South Korean won consolidated against the dollar on Friday, pausing after the prior day's race to a 32-month high, with turnover dwindling after the government's move to tighten monitoring of foreign exchange derivatives trade by banks. Trade value in
Published 23 Apr, 2011 12:00am
Chinese money market rates ease

Chinese money market rates ease

Chinese short-term money market rates eased slightly on Friday after jumping the previous day as the central bank's most recent reserve requirement ratio hike went into effect, though traders said rates might remain elevated going forward.
Published 23 Apr, 2011 12:00am
Dollar settles near three-year trough

Dollar settles near three-year trough

The dollar hovered near a three-year low against a basket of currencies on Friday, undermined by the spectre of low US interest rates and the crushing weight of the US budget deficit, with some players looking for it to test an all-time low when players r
Published 23 Apr, 2011 12:00am
Yuan continues climb to end at record

Yuan continues climb to end at record

The yuan ended at a fresh record high on Friday as the central bank continued to allow the currency to rise to help fight imported inflation, but onshore traders remained convinced it would not resort to any one-off revaluation despite rumours overseas.
Published 23 Apr, 2011 12:00am
Wall Street ends strong week

Wall Street ends strong week

US stocks posted their first positive week in three as more healthy earnings news lifted Wall Street on Thursday, though gains were limited with another 180 S&P names due to report next week. Apple's blowout results and strong reports from a number of ind
Published 23 Apr, 2011 12:00am
Yields dip, Treasury debt prices up

Yields dip, Treasury debt prices up

US Treasury debt prices rose on Thursday, pushing down yields ahead of a key Federal Reserve meeting next week where investors expect Chairman Ben Bernanke to offer a more dovish tone on US interest rates than some other Fed members have done in recent we
Published 23 Apr, 2011 12:00am
Yields dip, Treasury debt prices up

Yields dip, Treasury debt prices up

US Treasury debt prices rose on Thursday, pushing down yields ahead of a key Federal Reserve meeting next week where investors expect Chairman Ben Bernanke to offer a more dovish tone on US interest rates than some other Fed members have done in recent we
Published 23 Apr, 2011 12:00am
China shares down

China shares down

China's main stock index edged down 0.5 percent on Friday as investors took profits in large-cap shares after the previous day's rally, but the decline was limited by strength in airlines and paper makers on expectations of further yuan appreciation. The
Published 23 Apr, 2011 12:00am
Seoul shares flat

Seoul shares flat

Seoul shares ended nearly flat on Friday after recent gains that lifted the main index to a series of new highs, with key technology issues such as Samsung Electronics turning lower. The Korea Composite Stock Price Index (KOSPI) finished down 0.03 percent
Published 23 Apr, 2011 12:00am
Taiwan stocks at two-month high

Taiwan stocks at two-month high

Taiwan stocks rose 0.13 percent to an over two-month closing high on Friday, paced by gains in Apple suppliers Genius and Largan Precision after Apple reported sales of its flagship iPhone and Mac computers scaled new heights. Market sentiment also got a
Published 23 Apr, 2011 12:00am
Hungary interested in issuing China-related bonds

Hungary interested in issuing China-related bonds

Hungary is interested in issuing bonds in China or to Chinese buyers to finance various investment projects in the longer term and has held talks with financial officials there, the development ministry said on Friday. During talks in China, Hungarian Dev
Published 23 Apr, 2011 12:00am
Hungary interested in issuing China-related bonds

Hungary interested in issuing China-related bonds

Hungary is interested in issuing bonds in China or to Chinese buyers to finance various investment projects in the longer term and has held talks with financial officials there, the development ministry said on Friday. During talks in China, Hungarian Dev
Published 23 Apr, 2011 12:00am
21Vianet shares jump in Nasdaq debut

21Vianet shares jump in Nasdaq debut

Shares of 21Vianet Group Inc soared 25 percent on Thursday after as the Chinese Internet data center services provider tapped into the investor appetite for Chinese technology stocks. The shares finished their first day of trading at $18.80 after the comp
Published 23 Apr, 2011 12:00am
Most markets closed

Most markets closed

The stocks, financial and commodity markets of US, UK, Hong Kong, India, Singapore, Indonesia, the Philippines, Australia and NZ and European markets are closed on Friday for Easter. The markets will resume trading on Monday, while British markets will be
Published 23 Apr, 2011 12:00am
Nikkei erase losses, but earning verdicts loom

Nikkei erase losses, but earning verdicts loom

Japan's Nikkei stock average erased earlier losses to end flat on the day and posted small weekly gains on Friday after news that Renesas Electronics would resume operations at a key auto-chip factory triggered short-covering in a holiday-thinned market.
Published 23 Apr, 2011 12:00am
JGBs rise after budget approval

JGBs rise after budget approval

Japanese government bonds rose on Friday on confirmation that there would be no increase in debt sales to the market to fund an initial emergency budget for disaster relief and on investor appetite ahead of a string of public holidays, pushing the 10-year
Published 23 Apr, 2011 12:00am
JGBs rise after budget approval

JGBs rise after budget approval

Japanese government bonds rose on Friday on confirmation that there would be no increase in debt sales to the market to fund an initial emergency budget for disaster relief and on investor appetite ahead of a string of public holidays, pushing the 10-year
Published 23 Apr, 2011 12:00am
Turkey bond yields fall more after reserve ratio hike

Turkey bond yields fall more after reserve ratio hike

Turkish bond yields dipped further on Friday after the central bank's surprise decision on Thursday to raise banks' required reserve ratios (RRR), pushing back expectations for interest rate hikes. The lira closed slightly stronger at 1.5150 compared with
Published 23 Apr, 2011 12:00am
Turkey bond yields fall more after reserve ratio hike

Turkey bond yields fall more after reserve ratio hike

Turkish bond yields dipped further on Friday after the central bank's surprise decision on Thursday to raise banks' required reserve ratios (RRR), pushing back expectations for interest rate hikes. The lira closed slightly stronger at 1.5150 compared with
Published 23 Apr, 2011 12:00am
South East Asian Stocks: Thailand, Malaysia pull back in holiday trade

South East Asian Stocks: Thailand, Malaysia pull back in holiday trade

Stocks in Malaysia and Thailand eased back on Friday as investors wary of holidays in many major Asian markets cashed in on their big cap and resource shares. Market volume was relatively thin, with turnover for Malaysia falling to around half its 30-day
Published 23 Apr, 2011 12:00am
China plan to force green-car marriages raises concerns

China plan to force green-car marriages raises concerns

A tentative move by China's government to force foreign suppliers of electric-vehicle components to share technology and team up with Chinese companies has raised eyebrows, but few foreign companies have scaled back their big plans for the world's largest
Published 23 Apr, 2011 12:00am
Nakheel to offer lenders real estate guarantees

Nakheel to offer lenders real estate guarantees

Developer Nakheel, restructuring $10.9 billion in debt, has offered lenders guarantees of real estate assets equivalent to the value of their loans, the company's chairman said. Ali Rashid Lootah told local Arabic daily Al-Ittihad the offer aimed to boost
Published 23 Apr, 2011 12:00am
J.P Morgan to pay $800 million in Lehman bankruptcy case

J.P Morgan to pay $800 million in Lehman bankruptcy case

US banking giant J.P. Morgan Chase agreed Thursday to pay some $800 million to settle claims stemming from the massive bankruptcy of Wall Street firm Lehman Brothers in 2008, a court trustee said. James Giddens, the trustee for Lehman Brothers, said the c
Published 23 Apr, 2011 12:00am
Belarus currency crisis deepens with central bank U-turn

Belarus currency crisis deepens with central bank U-turn

Belarus' currency crisis deepened on Friday as interbank foreign exchange trading ground to a halt, participants said, following a policy U-turn on valuations from the central bank. The bank, battling to restore confidence in the country's depreciating ro
Published 23 Apr, 2011 12:00am
Sinopec offers cheap fuel oil to boost China market share

Sinopec offers cheap fuel oil to boost China market share

Top Asian refiner Sinopec's fuel oil trading subsidiary is offering cheaper marine fuel than its competitors as it looks to grab a bigger share of China's growing marine fuel oil market, oil industry sources said on Friday. As shipping traffic into China
Published 23 Apr, 2011 12:00am
Australia pushes defence ties with Japan

Australia pushes defence ties with Japan

Australian Prime Minister Julia Gillard Friday stressed the importance of strategic ties with Japan in the face of regional threats from terrorism and nuclear-armed North Korea. She also emphasised the need to involve the United States to ensure stability
Published 23 Apr, 2011 12:00am
Samsung bites back at Apple with lawsuit

Samsung bites back at Apple with lawsuit

Samsung Electronics said Friday it has filed a lawsuit against Apple alleging patent infringements, days after the US technology firm took the South Korean company to court on similar grounds. Samsung said it filed suit Thursday in a Seoul court alleging
Published 23 Apr, 2011 12:00am
Toyota says production back to normal by year-end

Toyota says production back to normal by year-end

Toyota, the world's biggest auto maker, said Friday output will start recovering in mid-year but will not be back to normal until end 2011 after Japan's quake-tsunami disaster caused parts shortages. Many key component manufacturers in Japan are based in
Published 23 Apr, 2011 12:00am
Saudi Arabia sees need to pump nine million barrels per day oil

Saudi Arabia sees need to pump nine million barrels per day oil

Top oil exporter Saudi Arabia needs to pump at least 9 million barrels per day (bpd) of crude for the next few years and is considering boosting capacity to meet rising demand, Petroleum Intelligence Weekly (PIW) said in a report citing Saudi sources this
Published 23 Apr, 2011 12:00am
Asian airlines to boom, European stagnate: IATA

Asian airlines to boom, European stagnate: IATA

Airlines in the Asia-Pacific region will grow strongly in the next few years but air transport in Europe is likely to stagnate, the outgoing head of the International Air Transport Association (IATA) said on Friday. IATA president Giovanni Bisignani told
Published 23 Apr, 2011 12:00am
Chavez hikes windfall tax on oil firms

Chavez hikes windfall tax on oil firms

Venezuelan President Hugo Chavez ratcheted up an oil windfall tax in a move that raises government income ahead of a presidential election, but puts a heavy load on oil companies in the Opec member state. The socialist Chavez, who will seek re-election ne
Published 23 Apr, 2011 12:00am
No change on grain market

No change on grain market

No change was seen on the wholesale grain and seed market on Friday as almost all participants were busy in preparations for Juma prayers, grain and seed merchants group's release said.
Published 23 Apr, 2011 12:00am
US wheat futures rise

US wheat futures rise

US wheat futures rose 1.9 percent on Thursday, notching their strongest weekly gain in nearly five months, as poor weather threatened crops in North America and Europe and as the dollar fell to its lowest point in nearly three years. Corn rebounded from t
Published 23 Apr, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday in seeming lock-step with US grains and soya futures, finishing with a 1.8 percent gain for the four-day work week. Canola took spillover strength from US markets, but lagged gains in soyabeans, which climbed o
Published 23 Apr, 2011 12:00am
Russia sows record low spring grain acreage

Russia sows record low spring grain acreage

Russian farmers sowed 1.03 million hectares with spring grains as of April 21, just 3.4 percent of the targeted area and down 679,300 hectares from the same date a year ago, the Agriculture Ministry said on Friday. The ministry data, obtained by Reuters,
Published 23 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 90,205 tonnes of cargo including 55,990 tonnes of import cargo, 34,215 tonnes of export cargo and 3,728 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 55,990 tonnes comprise
Published 23 Apr, 2011 12:00am
India's gold prices hit record high

India's gold prices hit record high

India's gold recovered from its previous session's losses on Thursday to hit another record high nearing 22,000 rupees following firm overseas markets, triggering purchases from physical traders to stock for festivals. At 5:45 pm, the most-active gold for
Published 23 Apr, 2011 12:00am
Trade thin as buyers await Ivorian cocoa exports

Trade thin as buyers await Ivorian cocoa exports

Trade was thin in Europe's cash cocoa market this week with export flows yet to start from top producer Ivory Coast, while cocoa butter ratios fell again, European cash traders said on Thursday. "It looks as though it may take longer than thought to get l
Published 23 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 firm on Thursday, supported by good global demand for higher-protein grain, while soft red winter wheat premiums were flat, traders said. Sinking dollar partly offsetting this week's more
Published 23 Apr, 2011 12:00am
Bangladesh issues tender to buy 50,000 tonnes of sugar

Bangladesh issues tender to buy 50,000 tonnes of sugar

A state buyer in Bangladesh has issued an international tender to import 50,000 tonnes of sugar as part of an effort to build reserves and cool domestic prices of the sweetener. The last date of submission of offers is May 7, an official at the state-owne
Published 23 Apr, 2011 12:00am
US Midwest corn and soya bids steady to higher

US Midwest corn and soya bids steady to higher

Spot basis bids were steady to higher for US Midwest corn and soyabeans on Thursday as farmers stayed on the sidelines even as futures climbed. Corn bids were firm at processors and elevators while soyabean bids climbed at crushing plants in the western p
Published 23 Apr, 2011 12:00am
About The Event

About The Event

ACCA-WWF Business Earth Talk is an event designed to facilitate discussion of the challenges being faced by business leaders in their pursuit of transparency in their business operations and to reward their efforts for transparency in reporting.
Published 23 Apr, 2011 12:00am
Message from head of ACCA Pakistan, Arif Masud Mirza

Message from head of ACCA Pakistan, Arif Masud Mirza

On behalf of ACCA, I am delighted to welcome you to this vitally important, high-profile event: ACCA-WWF Business Earth Talk 2011. This unique and exciting event is designed to facilitate discussion of the challenges being faced by business leaders in the
Published 23 Apr, 2011 12:00am
Message from director general WWF Pakistan, Ali Hassan Habib

Message from director general WWF Pakistan, Ali Hassan Habib

The strategic importance of aligning businesses and development with the overarching goal of environmental achievement is imperative as we evolve to address climate change. Over the years, environmental reporting has proved that good environmental practic
Published 23 Apr, 2011 12:00am
Message from Minister of Environment, Samina Khalid Ghurki

Message from Minister of Environment, Samina Khalid Ghurki

The business community has been made subject to greater accountability now than in the past. In the current economic conditions, as capital becomes scarce, providers of finance, whether they are financial institutions, donors or investors, can be very sel
Published 23 Apr, 2011 12:00am
Key Recommendations

Key Recommendations

Policy-Organisations should include corporate operational and product climate change policies in annual sustainability reporting. Governance and Strategy - Disclosures should also clearly outline how climate change issues and risks are incorporated into c
Published 23 Apr, 2011 12:00am
ACCA-WWF PAKISTAN ENVIRONMENTAL REPORTING AWARDS

ACCA-WWF PAKISTAN ENVIRONMENTAL REPORTING AWARDS

Aim of the Awards: The ACCA-WWF Pakistan Environmental Reporting Awards Scheme aims: to recognise and reward those organisations that report and disclose environmental, social or sustainability performance to encourage best practices in environment
Published 23 Apr, 2011 12:00am
BEST SUSTAINABILITY REPORT 2010

BEST SUSTAINABILITY REPORT 2010

Engro Corporation Limited: Commendation for commitment to excellence in sustainability reporting
Published 23 Apr, 2011 12:00am
Engro's investment in people

Engro's investment in people

Engro has launched a vocational training programme at Daharki to promote employment for local youth by expanding the pool of skilled labour. Graduating students have found employment with a number of local organisations working in the region as well as in
Published 23 Apr, 2011 12:00am
Engro helps to overcome the floods

Engro helps to overcome the floods

The company played a crucial role following the displacement and destruction caused by the floods in the summer of 2010. engro worked closely with a number of organisations to reach out to a wide community of flood victims. The company's partner organisat
Published 23 Apr, 2011 12:00am
LAL PIR

LAL PIR

Nishat is one of the leading and most diversified business groups in South East Asia with fixed/current assets of over Rs 300 billion (US $5 billion), it ranks among the top five business houses of Pakistan. Nishat has grown into a premium business group
Published 23 Apr, 2011 12:00am
About ACCA

About ACCA

ACCA is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people around the world who seek a rewarding career in accountancy, finance and management ACCA has 140,000 members and 404,000 student
Published 23 Apr, 2011 12:00am
KARACHI CHRONICLE: Farewell Karachi

KARACHI CHRONICLE: Farewell Karachi

In two months, March and April, I bid farewell to two friends who I will never see again in Karachi. They have settled abroad, one in Washington one in London. For both the death of parents has removed the reason why they used to come to the city frequent
Published 23 Apr, 2011 12:00am
ART FACTS: Silent misty impressions

ART FACTS: Silent misty impressions

From a palette of cool, soft shades to lush greens, yellow, blues and earth tones Zulfiqar Ali Zulfi explore the beauty of his surroundings be it landscape or cityscape. While visiting Zulfi's studio in Lahore a few months back I saw his latest work he wa
Published 23 Apr, 2011 12:00am
BRIDGE NOTES: Ask the right question

BRIDGE NOTES: Ask the right question

In bridge, there are seldom fool proof hands in declarer play. But when they come, it takes a good player to discover them. For this, the declarer must have patience, to get his timing right, the ability to count and visualise the possible distribution an
Published 23 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 23 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 23 Apr, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (April 22, 2011).

Published 23 Apr, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (April 22, 2011).

Published 23 Apr, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (April 22, 2011).

Published 23 Apr, 2011 12:00am
Arab unrest: perspectives - XXI

Arab unrest: perspectives - XXI

'Did we make a mistake in the 1980s and should we not have done what we did with the Mujahideen in Afghanistan?' The US efforts aimed at seeking a policy `correctness' in relation to the upheavals in North Africa and the Middle East seem to have been vigo
Published 23 Apr, 2011 12:00am
Arab unrest: perspectives - XXI

Arab unrest: perspectives - XXI

'Did we make a mistake in the 1980s and should we not have done what we did with the Mujahideen in Afghanistan?' The US efforts aimed at seeking a policy `correctness' in relation to the upheavals in North Africa and the Middle East seem to have been vigo
Published 23 Apr, 2011 12:00am
Supreme Court tells FIA to complete Hajj scam probe in a week's time

Supreme Court tells FIA to complete Hajj scam probe in a week's time

Expressing dissatisfaction over Federal Investigation Agency (FIA) report on Hajj scandal, Supreme Court on Friday directed the agency to complete the probe within a week besides ordering investigation against the officers who dissociated themselves from
Published 23 Apr, 2011 12:00am
Supreme Court tells FIA to complete Hajj scam probe in a week's time

Supreme Court tells FIA to complete Hajj scam probe in a week's time

Expressing dissatisfaction over Federal Investigation Agency (FIA) report on Hajj scandal, Supreme Court on Friday directed the agency to complete the probe within a week besides ordering investigation against the officers who dissociated themselves from
Published 23 Apr, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (April 22, 2011).

Published 23 Apr, 2011 12:00am
70 dead in Syria's bloodiest day of unrest

70 dead in Syria's bloodiest day of unrest

Syrian security forces killed at least 70 protesters on Friday, rights activists said, the bloodiest day in a month of escalating pro-democracy demonstrations against the rule of President Bashar al-Assad. Syrian rights organisation Sawasiah said 70 civil
Published 23 Apr, 2011 12:00am
70 dead in Syria's bloodiest day of unrest

70 dead in Syria's bloodiest day of unrest

Syrian security forces killed at least 70 protesters on Friday, rights activists said, the bloodiest day in a month of escalating pro-democracy demonstrations against the rule of President Bashar al-Assad. Syrian rights organisation Sawasiah said 70 civil
Published 23 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (April 22, 2011).
Published 23 Apr, 2011 12:00am
McCain urges US to recognise Libyan rebels

McCain urges US to recognise Libyan rebels

The Libyan conflict is heading for stalemate, the top US military officer said on Friday, and US Senator John McCain urged the United States to recognise the rebels and transfer frozen Libyan funds to them. Admiral Mike Mullen, chairman of the US military
Published 23 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (April 22, 2011).

Published 23 Apr, 2011 12:00am
McCain urges US to recognise Libyan rebels

McCain urges US to recognise Libyan rebels

The Libyan conflict is heading for stalemate, the top US military officer said on Friday, and US Senator John McCain urged the United States to recognise the rebels and transfer frozen Libyan funds to them. Admiral Mike Mullen, chairman of the US military
Published 23 Apr, 2011 12:00am
Cash withdrawal from banks: increase in WHT likely

Cash withdrawal from banks: increase in WHT likely

The government may increase withholding tax on cash withdrawal from banks from 0.3 to 0.4 or 0.5 percent in the upcoming budget (2011-12). Sources told Business Recorder on Friday that the FBR is examining a budget proposal to enhance the existing
Published 23 Apr, 2011 12:00am
Cash withdrawal from banks: increase in WHT likely

Cash withdrawal from banks: increase in WHT likely

The government may increase withholding tax on cash withdrawal from banks from 0.3 to 0.4 or 0.5 percent in the upcoming budget (2011-12). Sources told Business Recorder on Friday that the FBR is examining a budget proposal to enhance the existing
Published 23 Apr, 2011 12:00am
Cash withdrawal from banks: increase in WHT likely

Cash withdrawal from banks: increase in WHT likely

The government may increase withholding tax on cash withdrawal from banks from 0.3 to 0.4 or 0.5 percent in the upcoming budget (2011-12). Sources told Business Recorder on Friday that the FBR is examining a budget proposal to enhance the existing
Published 23 Apr, 2011 12:00am
IP gas pipeline: German consultancy firm hired, Iran told

IP gas pipeline: German consultancy firm hired, Iran told

Pakistan has informed Iran that Project Management consultancy contract has been awarded to a Germany-based ILF Consulting Engineers for Iran-Pakistan gas pipeline project that would cost $55 million, Business Recorder has learnt. During two-day ta
Published 23 Apr, 2011 12:00am
IP gas pipeline: German consultancy firm hired, Iran told

IP gas pipeline: German consultancy firm hired, Iran told

Pakistan has informed Iran that Project Management consultancy contract has been awarded to a Germany-based ILF Consulting Engineers for Iran-Pakistan gas pipeline project that would cost $55 million, Business Recorder has learnt. During two-day ta
Published 23 Apr, 2011 12:00am
IP gas pipeline: German consultancy firm hired, Iran told

IP gas pipeline: German consultancy firm hired, Iran told

Pakistan has informed Iran that Project Management consultancy contract has been awarded to a Germany-based ILF Consulting Engineers for Iran-Pakistan gas pipeline project that would cost $55 million, Business Recorder has learnt. During two-day ta
Published 23 Apr, 2011 12:00am
Attock Refinery cuts 10,000 bbl crude per day from OGDC

Attock Refinery cuts 10,000 bbl crude per day from OGDC

The Attock Refinery (ARL) has cut lifting of crude oil by 10,000 barrels per day from the Oil and Gas Development Company (OGDC). This may cause shut-down of producing fields, leading also to gas crisis in case of more curtailment, Business Recorder </
Published 23 Apr, 2011 12:00am
Attock Refinery cuts 10,000 bbl crude per day from OGDC

Attock Refinery cuts 10,000 bbl crude per day from OGDC

The Attock Refinery (ARL) has cut lifting of crude oil by 10,000 barrels per day from the Oil and Gas Development Company (OGDC). This may cause shut-down of producing fields, leading also to gas crisis in case of more curtailment, Business Recorder </
Published 23 Apr, 2011 12:00am
Attock Refinery cuts 10,000 bbl crude per day from OGDC

Attock Refinery cuts 10,000 bbl crude per day from OGDC

The Attock Refinery (ARL) has cut lifting of crude oil by 10,000 barrels per day from the Oil and Gas Development Company (OGDC). This may cause shut-down of producing fields, leading also to gas crisis in case of more curtailment, Business Recorder </
Published 23 Apr, 2011 12:00am
Militants kill 19 security personnel

Militants kill 19 security personnel

Hundreds of suspected militants attacked a border post in north-western region along the border with Afghanistan, killing 19 security personnel, an official said on Friday. The incident took place early Thursday in the remote area of Jandool in Lower Dir
Published 23 Apr, 2011 12:00am
Militants kill 19 security personnel

Militants kill 19 security personnel

Hundreds of suspected militants attacked a border post in north-western region along the border with Afghanistan, killing 19 security personnel, an official said on Friday. The incident took place early Thursday in the remote area of Jandool in Lower Dir
Published 23 Apr, 2011 12:00am
Three women, five children among 25 killed in drone attack

Three women, five children among 25 killed in drone attack

At least 25 people including three women and five children were killed in US predator attack in Speenwam area of North Waziristan Agency. According to sources in Mir Ali, the unmanned planes targeted a house on Mir Ali-Tall Road in Hassankhel area of tehs
Published 23 Apr, 2011 12:00am
Three women, five children among 25 killed in drone attack

Three women, five children among 25 killed in drone attack

At least 25 people including three women and five children were killed in US predator attack in Speenwam area of North Waziristan Agency. According to sources in Mir Ali, the unmanned planes targeted a house on Mir Ali-Tall Road in Hassankhel area of tehs
Published 23 Apr, 2011 12:00am
US urged to review drone policy

US urged to review drone policy

Pakistan and the United States on Friday voiced confidence in taking their strategic partnership forward even as Foreign Secretary Salman Bashir urged a review of the drone attacks strategy in pursuit of militants that may be hiding on Pakistani side of t
Published 23 Apr, 2011 12:00am
US urged to review drone policy

US urged to review drone policy

Pakistan and the United States on Friday voiced confidence in taking their strategic partnership forward even as Foreign Secretary Salman Bashir urged a review of the drone attacks strategy in pursuit of militants that may be hiding on Pakistani side of t
Published 23 Apr, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 23 Apr, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 23 Apr, 2011 12:00am
CCP charging very nominal fee for M&As

CCP charging very nominal fee for M&As

The Competition Commission of Pakistan (CCP) is charging very nominal fee for mergers and acquisition as compared to India and other regional countries, which reflects commission's mandate to reduce the cost of doing business and speed up economic activit
Published 23 Apr, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Apr, 2011 12:00am
CCP charging very nominal fee for M&As

CCP charging very nominal fee for M&As

The Competition Commission of Pakistan (CCP) is charging very nominal fee for mergers and acquisition as compared to India and other regional countries, which reflects commission's mandate to reduce the cost of doing business and speed up economic activit
Published 23 Apr, 2011 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 23 Apr, 2011 12:00am
CCP charging very nominal fee for M&As

CCP charging very nominal fee for M&As

The Competition Commission of Pakistan (CCP) is charging very nominal fee for mergers and acquisition as compared to India and other regional countries, which reflects commission''s mandate to reduce the cost of doing business and speed up economic activi
Published 23 Apr, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Apr, 2011 12:00am
CCP sets up its 'internal audit department'

CCP sets up its 'internal audit department'

The Competition Commission of Pakistan (CCP) has created the department of 'internal audit' with the aim to ensure transparency in the affairs of the Commission. According to the Annual Report-2010 of the CCP, issued here on Friday, there were two main re
Published 23 Apr, 2011 12:00am
Presentation

Presentation

Presentation at KSE auditorium (only for members and an authorised employee of the members).

Published 23 Apr, 2011 12:00am
CCP sets up its 'internal audit department'

CCP sets up its 'internal audit department'

The Competition Commission of Pakistan (CCP) has created the department of 'internal audit' with the aim to ensure transparency in the affairs of the Commission. According to the Annual Report-2010 of the CCP, issued here on Friday, there were two main re
Published 23 Apr, 2011 12:00am
CCP sets up its ''internal audit department''

CCP sets up its ''internal audit department''

The Competition Commission of Pakistan (CCP) has created the department of ''internal audit'' with the aim to ensure transparency in the affairs of the Commission. According to the Annual Report-2010 of the CCP, issued here on Friday, there were two main
Published 23 Apr, 2011 12:00am
GoP Ijara Sukuk: holding limit enhanced

GoP Ijara Sukuk: holding limit enhanced

The State Bank of Pakistan has increased the maximum holding limit of GoP Ijara Sukuk for Islamic and conventional banks having Islamic banking branches to 35 percent of the issue amount with immediate effect. Earlier, this maximum holding limit for all b
Published 23 Apr, 2011 12:00am
GoP Ijara Sukuk: holding limit enhanced

GoP Ijara Sukuk: holding limit enhanced

The State Bank of Pakistan has increased the maximum holding limit of GoP Ijara Sukuk for Islamic and conventional banks having Islamic banking branches to 35 percent of the issue amount with immediate effect. Earlier, this maximum holding limit for all b
Published 23 Apr, 2011 12:00am
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