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Archive - 2011-04-28
Microsoft posts $5.23 billion net profit
Top News

Microsoft posts $5.23 billion net profit

SAN FRANCISCO: US software giant Microsoft beat the expectations of Wall Street analysts on Thursday despite the weak
Published 28 Apr, 2011 10:25pm
Blasts rock Libyan capital
Top News

Blasts rock Libyan capital

TRIPOLI: At least five blasts on Thursday rocked the Libyan capital after NATO planes flew over Tripoli, AFP witnesse
Published 28 Apr, 2011 10:12pm
India, Pakistan agree to enhance trade
Top News

India, Pakistan agree to enhance trade

ISLAMABAD: India and Pakistan agreed Thursday to set up a joint working group to enhance trade, in a further move design
Published 28 Apr, 2011 03:11pm
Shell profits rocket to $8.78 billion
Top News

Shell profits rocket to $8.78 billion

LONDON: Anglo-Dutch oil giant Shell turned in a 60-percent net profit leap for the first quarter on Thursday, benefiting
Published 28 Apr, 2011 01:41pm
US ambassador to India resigns
Top News

US ambassador to India resigns

NEW DELHI: The US ambassador to India, Timothy Roemer, announced his resignation Thursday after two years in the key dip
Published 28 Apr, 2011 09:29am
Forex reserves slightly down
Top News

Forex reserves slightly down

KARACHI: Foreign exchange reserves of the country dwindled by dollars 22 million to dollars 17.179 billion from dollars
Published 28 Apr, 2011 09:20am
Five killed in Pak Navy bus attack
Top News

Five killed in Pak Navy bus attack

KARACHI: Four Pak navy personnel and a civilian were killed Thursday when attackers bombed a bus taking them to work, th
Published 28 Apr, 2011 03:57am
Telecom giant sees profits fall
BR Research

Telecom giant sees profits fall

Tring! Tring! Anybody and everybody who held PTCL in his portfolio had a field day yesterday. Within seconds of the telecom players nine-mon
Published 28 Apr, 2011 12:00am
UBL cashing on investments
BR Research

UBL cashing on investments

The countrys third-largest financial lender, United Bank Ltd, reported first-quarter profits of Rs3.2 billion, up 18 percent year-on-year, t
Published 28 Apr, 2011 12:00am
PSMC: While the going is good
BR Research

PSMC: While the going is good

Cheap deals for four wheelers are the order of the day and Pakistan Suzuki is cashing in on filling this demand. The companys sales turnover
Published 28 Apr, 2011 12:00am
UBL earns Rs 3.272 billion profit

UBL earns Rs 3.272 billion profit

The profit after tax (unconsolidated) of United Bank Limited has increased to Rs 3.272 billion in the quarter ended on March 31, 2011 as compared to Rs 2.783 billion earned in the corresponding period in 2010. The board of directors of the bank in its mee
Published 28 Apr, 2011 12:00am
UBL earns Rs 3.272 billion profit

UBL earns Rs 3.272 billion profit

The profit after tax (unconsolidated) of United Bank Limited has increased to Rs 3.272 billion in the quarter ended on March 31, 2011 as compared to Rs 2.783 billion earned in the corresponding period in 2010. The board of directors of the bank in its mee
Published 28 Apr, 2011 12:00am
Silkbank announces Rs 157 million profit before tax

Silkbank announces Rs 157 million profit before tax

The Board of Directors of Silkbank announced a profit before tax of Rs 157 million in the first quarter of 2011. President and CEO Silkbank, Azmat Tarin presented the accounts in the meeting. This was a complete turnaround for the Bank as a loss of Rs 407
Published 28 Apr, 2011 12:00am
Silkbank announces Rs 157 million profit before tax

Silkbank announces Rs 157 million profit before tax

The Board of Directors of Silkbank announced a profit before tax of Rs 157 million in the first quarter of 2011. President and CEO Silkbank, Azmat Tarin presented the accounts in the meeting. This was a complete turnaround for the Bank as a loss of Rs 407
Published 28 Apr, 2011 12:00am
US condemns terrorist attack in Karachi

US condemns terrorist attack in Karachi

The United States Embassy strongly condemned Tuesday's terrorist attacks on two Pakistan navy buses in Karachi, which brutally killed at least four people and injured many others. It offered its sincere condolences to the families and friends of the victi
Published 28 Apr, 2011 12:00am
KSE board appoints Nadeem Naqvi as Managing Director

KSE board appoints Nadeem Naqvi as Managing Director

Karachi Stock Exchange (KSE) has announced formal appointment of Nadeem Naqvi as Managing Director of the Exchange by its Board of Directors which has also been duly approved by Securities and Exchange Commission of Pakistan (SECP). Nadeem has been appoin
Published 28 Apr, 2011 12:00am
US MIDDAY: gold at new record

US MIDDAY: gold at new record

Gold rose to a record high above $1,520 an ounce on Wednesday after the Federal Reserve announcement that it would keep US interest rates very low. It was the eighth record high in nine trading sessions for spot gold. The precious metal rose more than 1 p
Published 28 Apr, 2011 12:00am
US MIDDAY: wheat down, soya rises

US MIDDAY: wheat down, soya rises

US wheat futures dropped 3.4 percent to a two-week low on Wednesday due to forecasts for much-needed rain in Kansas, where the wheat crop has been under drought-like conditions. "The perception of weather certainly has improved a bit for wheat," said Dan
Published 28 Apr, 2011 12:00am
US MIDDAY: sugar slips

US MIDDAY: sugar slips

Arabica coffee futures changed direction late in the session and closed up a shade on Wednesday, near last week's 34-year high, while raw sugar dropped as dealers expected a large delivery when the May contract expires on Friday. US cocoa finished firm af
Published 28 Apr, 2011 12:00am
Gold rises in London

Gold rises in London

Gold rose for a second day on Wednesday, profiting from a weaker dollar, which came under pressure ahead of a US Federal Reserve interest rate decision, while silver pared some of the previous day's slide.
Published 28 Apr, 2011 12:00am
US silver, gold slips

US silver, gold slips

Silver posted its largest one-day fall in six weeks on Tuesday after having hit a 31-year high in the previous session, while gold was pressured by investor uncertainty over the likely course of US monetary policy. Spot silver fell by as much as 4.9 perce
Published 28 Apr, 2011 12:00am
Gold inches up in Asia

Gold inches up in Asia

Silver rebounded on Wednesday from sharp falls in the previous session and gold inched upwards as investors cautiously awaited the conclusion of the US Federal Reserve's policy meeting while feeble sentiment in the dollar lent support. Gold is likely to t
Published 28 Apr, 2011 12:00am
Liffe coffee, cocoa up

Liffe coffee, cocoa up

Liffe July robusta coffee rose $34 to close at $2,536 a tonne on Wednesday after setting a contract high of $2,555. Robustas finally gained some ground on the arabica market following a prolonged decline in its relative value. Liffe August white sugar fel
Published 28 Apr, 2011 12:00am
Arabicas rally

Arabicas rally

ICE arabica coffee futures closed up strong on Tuesday, nearing last week's 34-year high on commercial buying after an early sell-off and concerns about supplies for high-quality beans. The strength spilled into robusta coffee in London, which followed IC
Published 28 Apr, 2011 12:00am
Soyabean tumbles

Soyabean tumbles

US soyabean futures ended lower on Tuesday, pressured by profit-taking and indications of ample soy supply as the harvest nears completion in South America, traders said. CBOT May soyabeans notched their biggest percentage loss in two weeks, falling 6-3/4
Published 28 Apr, 2011 12:00am
Ukraine trader HIB to double grain exports

Ukraine trader HIB to double grain exports

A mysterious newcomer to Ukraine's lucrative grain market, Hlib Investbud (HIB), said on Wednesday it planned to export at least 1.5 million tonnes of grain this season and could double that amount in 2011/2012. HIB emerged last summer from the restructur
Published 28 Apr, 2011 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Key TOCOM rubber futures on Wednesday fell 2.9 percent to a five-week low as concerns over weak demand from Japan's auto industry and a stronger yen weighed on the market. The key Tokyo Commodity Exchange rubber contract for October delivery settled down
Published 28 Apr, 2011 12:00am
Crude, Brent up

Crude, Brent up

Oil rose on Wednesday after US Federal Reserve Chief Ben Bernanke gave no signs that the central bank was about to tighten monetary policy. After getting an early boost from US inventory data showing tightening gasoline stockpiles, oil markets extended ga
Published 28 Apr, 2011 12:00am
Copper cuts losses

Copper cuts losses

Copper fell on Wednesday in cautious trade ahead of a US Federal Reserve decision on interest rates and on concerns about rising inventories, although US data and a weaker dollar helped limit losses. Benchmark copper on the London Metal Exchange closed at
Published 28 Apr, 2011 12:00am
US copper up

US copper up

Copper fell in London on Tuesday, catching up after a long holiday to steep losses in Asian and US markets, but COMEX copper ended slightly higher as investors sought bargains at the lows. In New York, COMEX prices edged higher after the sharp declines on
Published 28 Apr, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most active Shanghai copper contract, July, fell 0.5 percent to 69,550 yuan. Shanghai metals closed lower across the board, with the complex finishing 0.4 percent lower on a volume-weighted average basis by 0709 GMT.
Published 28 Apr, 2011 12:00am
New York cotton limit down

New York cotton limit down

US cotton futures slid to their lowest levels in 2-1/2 months on Tuesday, closing at their downside limit with ample supplies for waning demand, and caution ahead of the US Federal Reserve's policy meeting. Analysts said many commodity investors were nerv
Published 28 Apr, 2011 12:00am
White House releases longer Obama birth certificate

White House releases longer Obama birth certificate

The White House on Wednesday released a longer version of President Barack Obama's US birth certificate to try to quiet charges from some Republicans that he was not born in the United States. Obama was to make a White House statement at 9:45 am EDT (1445
Published 28 Apr, 2011 12:00am
Five dead, 84 injured in Taiwan train accident

Five dead, 84 injured in Taiwan train accident

At least five people were killed and 84 injured Wednesday when a falling tree struck a train carrying Chinese tourists on a popular but dangerous mountain route in central Taiwan, officials said. The train was travelling through a forested area on the slo
Published 28 Apr, 2011 12:00am
Tibet exiles pick Dalai Lama's political successor

Tibet exiles pick Dalai Lama's political successor

Tibetan exiles elected a Harvard academic as their new prime minister on Wednesday, who will face the daunting task of assuming the political duties of a global icon, the Dalai Lama. Lobsang Sangay, a 43-year-old international law expert, has never lived
Published 28 Apr, 2011 12:00am
Iran to increase production of 20-percent enriched uranium

Iran to increase production of 20-percent enriched uranium

Iran will increase its production of 20-per-cent enriched uranium, a spokesman for the country's National Security Council said Wednesday. Iran is producing the 20-per-cent enriched uranium for its medical reactor in Tehran but some countries fear that th
Published 28 Apr, 2011 12:00am
William and Kate in final royal wedding rehearsals

William and Kate in final royal wedding rehearsals

Last minute rehearsals for the wedding of Prince William and Kate Middleton got under way before dawn in central London on Wednesday with the royal couple expected to put the final touches to their preparations. Roads around Buckingham Palace and along th
Published 28 Apr, 2011 12:00am
UK and Malawi expel each other's diplomats

UK and Malawi expel each other's diplomats

Britain ordered Malawi's acting ambassador to leave the country on Wednesday soon after the African state expelled Britain's envoy over his criticism of its leader. Malawi, a former British colony, expelled British envoy Fergus Cochrane-Dyet after he call
Published 28 Apr, 2011 12:00am
Strikers demand new constitution in Nepal

Strikers demand new constitution in Nepal

A general strike called by ethnic minority groups demanding improved rights under Nepal's new constitution brought the capital Kathmandu and several other cities to a halt on Wednesday. Shops closed and most vehicles stayed off the road in and around the
Published 28 Apr, 2011 12:00am
Nato strikes in Misrata, shelling resumes

Nato strikes in Misrata, shelling resumes

Nato air strikes forced Libyan government troops to withdraw from one of their positions in the besieged city of Misrata overnight but they resumed bombardment of the port area using Grad missiles, a rebel spokesman said. Forces loyal to Muammar Qadhafi a
Published 28 Apr, 2011 12:00am
15 dead as Yemen's Saleh clings to power

15 dead as Yemen's Saleh clings to power

President Ali Abdullah Saleh said he supports "peaceful" change in line with Yemen's constitution as at least 15 more people were killed and more than 130 wounded on Wednesday with no let-up in protests. Thirteen protesters and two policemen were killed i
Published 28 Apr, 2011 12:00am
US and China in human rights talks amid clampdown

US and China in human rights talks amid clampdown

US and Chinese officials met in Beijing on Wednesday for sensitive human rights talks, with the American side expected to press China to ease a major government crackdown on dissent. Rights groups have urged the US delegation to "give teeth" to the two-da
Published 28 Apr, 2011 12:00am
Bangladesh arrests top militant

Bangladesh arrests top militant

The Bangladeshi head of a banned Islamic militant group has been arrested at a hideout north of the capital Dhaka, police said Wednesday. Maolana Sheikh Farid, who fought in Afghanistan with the Taliban in the 1990s, is accused of masterminding a string o
Published 28 Apr, 2011 12:00am
Afghan jailbreak 'unacceptable' security breach: Interpol

Afghan jailbreak 'unacceptable' security breach: Interpol

Interpol slammed Wednesday the international community's "shocking" failure to properly train Afghan police and said a mass Taliban jailbreak had revealed an "unacceptable gap in global security". The police agency's secretary general, Ronald Noble, attac
Published 28 Apr, 2011 12:00am
Third ODI today: Ahmed hails Afridi as Pakistan sight series win

Third ODI today: Ahmed hails Afridi as Pakistan sight series win

Ahmed Shehzad has thanked the Pakistan management team for showing confidence in him following his World Cup calamity which almost cost him a trip to the Caribbean. The 19-year-old opening batsman was speaking after he made 102 - his second One-day Intern
Published 28 Apr, 2011 12:00am
Bookies behind threats to Zulqarnain arrested

Bookies behind threats to Zulqarnain arrested

Pakistani police have busted a gang of bookmakers who were behind death threats to wicketkeeper Zulqarnain Haider, they said on Wednesday. Haider fled the Pakistan team hotel in Dubai last November hours before a one-day international against South Africa
Published 28 Apr, 2011 12:00am
Pakistan to stage exhibition tennis matches in Waziristan

Pakistan to stage exhibition tennis matches in Waziristan

Pakistan tennis authorities plan to stage exhibition matches in Waziristan as a means of promoting peace in the tribal belt and showing that the country can still host sporting events. The Waziristan region bordering Afghanistan has been a hotbed of milit
Published 28 Apr, 2011 12:00am
London 2012 ceremonies sold out after surge for tickets

London 2012 ceremonies sold out after surge for tickets

Ticket applications for next year's London Olympics far exceeded supply with more than half of the 650 sessions oversubscribed and going to a ballot, organisers said on Wednesday. The showcase opening and closing ceremonies were among those events declare
Published 28 Apr, 2011 12:00am
Pakistan hires Indian tennis coach

Pakistan hires Indian tennis coach

A senior Pakistani tennis official expressed hope on Wednesday that an unprecedented move to hire a coach from the country's arch rival India would improve play and ease political tensions. Pakistan Tennis Federation (PTF) president Kalim Imam said they h
Published 28 Apr, 2011 12:00am
Badrinath shines in easy Chennai win

Badrinath shines in easy Chennai win

Subramaniam Badrinath hit an unbeaten 63 as Chennai Super Kings outclassed Pune Warriors by eight wickets Wednesday for their second win over the Indian Premier League debutants in two days. Badrinath anchored the innings after the early dismissal of Mich
Published 28 Apr, 2011 12:00am
Fletcher appointed India's coach

Fletcher appointed India's coach

Former England cricket coach Duncan Fletcher was appointed to the high-pressure post of India coach on Wednesday, less than one month after the country won the World Cup on home soil. India had been on the look-out to replace South African Gary Kirsten wh
Published 28 Apr, 2011 12:00am
Double cash for World Cup winners

Double cash for World Cup winners

India's cricket chiefs on Wednesday doubled the cash bonus for each member of the World Cup winning team amid reports that the players had complained about being poorly rewarded. "The cash incentive to the members of the World Cup winning Indian team has
Published 28 Apr, 2011 12:00am
Giggs, Rooney put United on brink of final

Giggs, Rooney put United on brink of final

Manchester United overwhelmed Schalke 04 as they strolled to a 2-0 victory in their Champions League semi-final first leg on Tuesday in a one-sided match that left the home fans stunned. Ryan Giggs and Wayne Rooney scored in the space of two second-half m
Published 28 Apr, 2011 12:00am
Sports to be made compulsory in Punjab schools

Sports to be made compulsory in Punjab schools

The Punjab Sports Board has decided to make three games compulsory at school level for the promotion of sports activities in the province. It was decided during the Board's meeting held here on Wednesday under the Chairmanship of Punjab Education Minister
Published 28 Apr, 2011 12:00am
Soderling struggles, Tsonga stunned in Estoril

Soderling struggles, Tsonga stunned in Estoril

Robin Soderling struggled to a patchy if encouraging victory Wednesday to open play at the Estoril Open as Frenchman Jo-Wilfried Tsonga made a miserable debut at the clay court event. Top seed Soderling was looking on the bright side after coasting in the
Published 28 Apr, 2011 12:00am
Furor at Sony after hackers steal Playstation online user data

Furor at Sony after hackers steal Playstation online user data

Sony Corp warned that hackers had stolen names, addresses and possibly credit card details from the 77 million user accounts of its video game online network, in one of the largest Internet security break-ins ever. The Japanese electronic giant pulled the
Published 28 Apr, 2011 12:00am
S&P cuts Japan sovereign rating outlook on quake costs

S&P cuts Japan sovereign rating outlook on quake costs

Standard and Poor's threatened to cut Japan's sovereign credit rating again, warning the huge cost of last month's devastating earthquake will hurt already weak public finances unless bickering politicians can agree to raise taxes. It affirmed its long-te
Published 28 Apr, 2011 12:00am
Retail sales tumble

Retail sales tumble

Japanese retail sales fell in March at the fastest annual pace since 1998 and could remain weak for some time as last month's earthquake, radiation leaks from a damaged nuclear reactor and fears of electricity shortages weigh on consumer sentiment.
Published 28 Apr, 2011 12:00am
Moody's profit rises

Moody's profit rises

Bond ratings company Moody's Corp posted a 37 percent rise in first-quarter profit, topping Wall Street expectations, as corporate debt issuance surged. The company also raised its quarterly dividend and increased its full-year earnings forecast, and the
Published 28 Apr, 2011 12:00am
Moody's profit rises

Moody's profit rises

Bond ratings company Moody's Corp posted a 37 percent rise in first-quarter profit, topping Wall Street expectations, as corporate debt issuance surged. The company also raised its quarterly dividend and increased its full-year earnings forecast, and the
Published 28 Apr, 2011 12:00am
German inflation highest since October 2008

German inflation highest since October 2008

Inflation in Germany accelerated to its fastest annual rate in 2-1/2 years, data showed on Wednesday, feeding speculation that the European Central Bank could raise interest rates again this summer. Preliminary data from the German statistics office's con
Published 28 Apr, 2011 12:00am
Pilot strike forces Air India cancellations

Pilot strike forces Air India cancellations

Air India sacked six union leaders on Wednesday and suspended two others after a strike by hundreds of pilots forced the cancellation of dozens of flights, including on international routes. Airline officials said that six senior figures at the Indian Com
Published 28 Apr, 2011 12:00am
Boeing profit tops expectations, reaffirms outlook

Boeing profit tops expectations, reaffirms outlook

Boeing Co's quarterly profit rose 13 percent, topping expectations, and the company reaffirmed a full-year outlook that reflects a rebound in commercial airplane orders and resilience in the face of pressured defence budgets. The world's largest aerospace
Published 28 Apr, 2011 12:00am
Boeing profit tops expectations, reaffirms outlook

Boeing profit tops expectations, reaffirms outlook

Boeing Co's quarterly profit rose 13 percent, topping expectations, and the company reaffirmed a full-year outlook that reflects a rebound in commercial airplane orders and resilience in the face of pressured defence budgets. The world's largest aerospace
Published 28 Apr, 2011 12:00am
US durable goods data shows manufacturing sturdy

US durable goods data shows manufacturing sturdy

A key gauge of US manufacturing rose in March and new orders in February were stronger than initially thought, indicating a vibrant factory sector even as the economy slowed in the first quarter. New orders for manufactured goods meant to last at least th
Published 28 Apr, 2011 12:00am
UK economy makes feeble recovery; rates to stay low

UK economy makes feeble recovery; rates to stay low

Britain's economy made only a sluggish start to 2011 as it crawled back from a slump at the end of last year, snuffing out chances of a Bank of England rate rise next week and hampering the government's austerity drive. Prime Minister David Cameron took s
Published 28 Apr, 2011 12:00am
Republicans turn up heat on Obama over oil prices

Republicans turn up heat on Obama over oil prices

With Americans upset about rising gasoline prices, Republicans in the US Congress aim to fix the blame on one person when they return next week from recess: President Barack Obama. Congress wrapped up its last work session on April 15 with Democrats and R
Published 28 Apr, 2011 12:00am
Nokia axes 7,000 jobs to slash costs

Nokia axes 7,000 jobs to slash costs

Nokia will axe 7,000 jobs and outsource its legacy Symbian software to slash 1 billion euros ($1.46 billion) of costs as it struggles to compete in the fierce smartphone market. Nokia, the world's largest phone maker by volume, on Wednesday detailed an ov
Published 28 Apr, 2011 12:00am
Nokia axes 7,000 jobs to slash costs

Nokia axes 7,000 jobs to slash costs

Nokia will axe 7,000 jobs and outsource its legacy Symbian software to slash 1 billion euros ($1.46 billion) of costs as it struggles to compete in the fierce smartphone market. Nokia, the world's largest phone maker by volume, on Wednesday detailed an ov
Published 28 Apr, 2011 12:00am
Emerging firms raise foreign investment to record high: UN

Emerging firms raise foreign investment to record high: UN

Companies from emerging and developing economies raised their global direct investment abroad to record levels last year, a UN economic think tank said on Wednesday. "The BRICs are the leaders," said James Zhan, the director of the investment division at
Published 28 Apr, 2011 12:00am
Sterling rises broadly

Sterling rises broadly

Sterling rose broadly on Wednesday, nearing its highest in 17 months versus the dollar, as data showed the UK economy grew 0.5 percent in the first quarter, confounding speculation about a weaker number. The pound could extend gains to test a recent high
Published 28 Apr, 2011 12:00am
Australian scales 29-year peak, New Zealand dollar up

Australian scales 29-year peak, New Zealand dollar up

The Australian dollar hit a 29-year high against a broadly weaker greenback on Wednesday, while debt futures slumped as the market priced in a bigger chance of a rate hike this year in the wake of stronger-than-expected inflation data.
Published 28 Apr, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc traded lower against the dollar on Wednesday, pulling back from a fresh all-time high notched up earlier in the session after a downward dollar spike triggered some stop losses. The franc and the euro have been rising relentlessly against
Published 28 Apr, 2011 12:00am
Singapore dollar, won up

Singapore dollar, won up

The Singapore dollar hit a fresh high and the South Korean won threatened to break through a 32-month peak on Wednesday, leading gains in their Asian peers, as Asian policymakers are expected to keep using firm currencies to fight inflation and the Federa
Published 28 Apr, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee snapped a three-day losing streak on Wednesday supported by the euro's gains against the dollar, but demand for the greenback from oil importers and weak local shares pulled it off highs. The partially convertible rupee ended at 44.43/44
Published 28 Apr, 2011 12:00am
Yuan rises

Yuan rises

The yuan resumed its gradual appreciation and closed up against the dollar on Wednesday as the US currency traded at its weakest level against other major currencies in almost three years and the People's Bank of China fixed the yuan's mid-point versus th
Published 28 Apr, 2011 12:00am
Euro climbs in New York

Euro climbs in New York

The euro advanced to a 16-month high against the dollar on Tuesday, seemingly with little resistance ahead, as investors bet the US Federal Reserve will lag other major central banks in raising interest rates. The Federal Open Market Committee, the Fed's
Published 28 Apr, 2011 12:00am
Early trade in New York: dollar at three-year low

Early trade in New York: dollar at three-year low

The US dollar fell against the euro on Wednesday after the Federal Reserve said it will end its bond-buying program in June as planned and appeared in no rush to tighten monetary policy further. The dollar fell to a three-year low against major currencies
Published 28 Apr, 2011 12:00am
Dollar sags in London

Dollar sags in London

The dollar fell against most currencies on Wednesday and looked set to stay under pressure on expectations the US Federal Reserve will reaffirm its ultra-loose monetary policy for the coming months. Sterling neared 17-month highs against the greenback aft
Published 28 Apr, 2011 12:00am
Dollar falls broadly in Asia

Dollar falls broadly in Asia

The dollar fell broadly on Wednesday, marking a fresh nadir against the Swiss franc and a 29-year trough against the Australian dollar as investors expect no surprises from the US Federal Reserve's policy meeting later in the day while the Japanese yen wa
Published 28 Apr, 2011 12:00am
Eonia to stay above one percent

Eonia to stay above one percent

A rise in excess liquidity in the banking system could push eurozone overnight interest rates lower next week, but the increase may not be enough to bring them below 1 percent. Bets that the key refi rate will rise from the current level of 1.25 percent t
Published 28 Apr, 2011 12:00am
UK's top share index flat

UK's top share index flat

Britain's top share index ended flat on Wednesday ahead of Federal Reserve Chairman Ben Bernanke's news conference which could provide clues on the Fed's future plans for its monetary policy. The blue chip FTSE 100 was down 1.2 points or 0.02 percent at 6
Published 28 Apr, 2011 12:00am
Taiwan stocks top 9,000 point for first time in three months

Taiwan stocks top 9,000 point for first time in three months

Taiwan stocks ended up 1.13 percent at a near three-month closing high on Wednesday, lifted by gains in financial and semiconductor heavyweights as investors raised long positions in an increasingly optimistic environment. The main TAIEX index rose 101.11
Published 28 Apr, 2011 12:00am
Australian shares fall

Australian shares fall

Australian stocks fell 0.8 percent on Wednesday after surprisingly high inflation last quarter revived the risk of a hike in interest rates and lifted the local dollar to a fresh 29-year high. Inflation accelerated to 3.3 percent on an annual basis, the f
Published 28 Apr, 2011 12:00am
European shares rise to eight-week high

European shares rise to eight-week high

Strong corporate earnings in the technology and auto sector pushed up European shares on Wednesday, helped by anticipation that the US will confirm its loose monetary policy later in the day. US Federal Reserve Chairman Ben Bernanke is set to indicate a p
Published 28 Apr, 2011 12:00am
Hong Kong, China stocks down

Hong Kong, China stocks down

Hong Kong and China shares reversed earlier gains to close lower on Wednesday after a sharp slide on the speculative Shanghai B-share index, as concerns about additional policy tightening by Beijing pulled the markets further away from their recent highs.
Published 28 Apr, 2011 12:00am
Seoul shares little changed

Seoul shares little changed

Seoul shares gave up earlier gains and ended flat on Wednesday, taking a breather after recent rallies that lifted the market to a series of fresh record highs, with falls in automakers and refiners weighing. The Korea Composite Stock Price Index finished
Published 28 Apr, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasury prices rose on Tuesday on expectations that the Federal Reserve will cling to a near-zero interest rate policy even as it will signal an end to its $600 billion bond program in June. Investors widely anticipate little changed in policy from Fe
Published 28 Apr, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasury prices rose on Tuesday on expectations that the Federal Reserve will cling to a near-zero interest rate policy even as it will signal an end to its $600 billion bond program in June. Investors widely anticipate little changed in policy from Fe
Published 28 Apr, 2011 12:00am
Strong earnings push S&P through key level

Strong earnings push S&P through key level

A fresh batch of corporate results pushed US stocks to their best levels since June 2008 on Tuesday, renewing optimism that profit growth will remain resilient enough to keep equities on the rise. The S&P 500 barrelled through the 1,344 level, seen as a k
Published 28 Apr, 2011 12:00am
Wednesday's afternoon trade: Wall Street rises

Wednesday's afternoon trade: Wall Street rises

US stocks were higher on Wednesday after the Federal Reserve signalled that it was in no rush to scale back its extensive support for the US economy. Volume was lighter than average for early afternoon in the session. General Electric led the Dow higher,
Published 28 Apr, 2011 12:00am
Nikkei climbs

Nikkei climbs

Tokyo stocks gained 1.4 percent on Wednesday after a batch of Japanese and US corporate earnings came in better than expected, with digital camera maker Canon soaring on relief that parts procurement woes look set to be resolved in a few months. Some of t
Published 28 Apr, 2011 12:00am
Indian shares remain down

Indian shares remain down

Indian shares dropped for a third straight session and closed 0.5 percent lower on Wednesday, amid steady world stocks, with dropping nearly 3 percent as the third-largest software firm's tepid growth forecast let down investors. Traders expect choppy tra
Published 28 Apr, 2011 12:00am
Most Southeast Asian stocks tilt higher

Most Southeast Asian stocks tilt higher

Most Southeast Asian stock markets tilted higher in moderate volume on Wednesday, with buying in large capitalised stocks and banks lifting activity in Thailand and Indonesia, and as investors awaited a US Federal Reserve policmaking decision. The region
Published 28 Apr, 2011 12:00am
Credit Suisse hiring binge pays off as Barclays wilts

Credit Suisse hiring binge pays off as Barclays wilts

A hiring spree helped Credit Suisse post record first-quarter investment banking revenue, outpacing rival Barclays whose earnings were hit by economic wobbles hurting market activity. Investors are closely watching banks' first quarter earnings as a barom
Published 28 Apr, 2011 12:00am
Slow pace, thin trade seen on grain market

Slow pace, thin trade seen on grain market

Thin trading was seen on the wholesale grain and seed market on Wednesday in process of trading, dealers said. On the cereal side wheat old Bardan posted fresh gain of Rs 20 to Rs 2360 and new type followed the same pattern, rising Rs 10 to Rs 2375, other
Published 28 Apr, 2011 12:00am
Plastic mouldings down on Jodia Bazar

Plastic mouldings down on Jodia Bazar

The trading in plastic moulding compounds ended down on Jodia Bazar here on Wednesday. The following variations were noted.
Published 28 Apr, 2011 12:00am
Lean business despite price fall seen on cotton market

Lean business despite price fall seen on cotton market

Sluggish business was seen on the cotton market on Wednesday as ginners are still on the sidelines on expectations of recovery in the rates, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged Rs 10,500, they said.
Published 28 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up and July contract was unchanged on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida that had closed at Rs 1330.30 commenced with a gain of 50 paisa at Rs 1330.80. The July contract
Published 28 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 164,051 tonnes of cargo including 128,477 tonnes of import cargo, 35,574 tonnes of export cargo and 5,301 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 128,477 tonnes co
Published 28 Apr, 2011 12:00am
China seeks Vietnam pepper, coffee growers cut trees

China seeks Vietnam pepper, coffee growers cut trees

Chinese buyers have been in Vietnam seeking to buy black pepper at high prices, raising expectations of good gains that have prompted some coffee farmers to switch to growing pepper instead, a state-run newspaper and traders said on Wednesday. Pepper pric
Published 28 Apr, 2011 12:00am
Russia may lift grain export ban this year

Russia may lift grain export ban this year

Russia may lift its ban on grain exports earlier than 2012 if it revises its cereal supply estimates upwards, a leading Russian analyst said on Tuesday. Russia was hit by a severe drought last summer and originally imposed the ban from August 15, 2010 to
Published 28 Apr, 2011 12:00am
Indonesia scraps soyabean oil import tax

Indonesia scraps soyabean oil import tax

Indonesia has scrapped import duties on a number of raw materials and goods, including soyabean oil, in a drive to boost domestic manufacturing industries, a government official said. Soyabean oil, chemical feedstocks such as ethylene for plastics, and va
Published 28 Apr, 2011 12:00am
Sri Lanka's March tea output jumps by 58 percent

Sri Lanka's March tea output jumps by 58 percent

Sri Lanka's tea production in March rose 57.9 percent from a year earlier due to a low base effect after bad weather hit production in the same month last year, the state-run tea board said on Tuesday. Tea output in March jumped to 33.2 million kg against
Published 28 Apr, 2011 12:00am
Brazil's cocoa arrivals up 12 percent

Brazil's cocoa arrivals up 12 percent

Deliveries of cocoa to warehouses from the main growing regions in Brazil were up 12 percent from a year ago, with just one week left before the 2010/11 season ends, Bahia Commercial Association data showed on Tuesday. Cocoa deliveries have slowed to a tr
Published 28 Apr, 2011 12:00am
Message from Chief Executive, ZRG International

Message from Chief Executive, ZRG International

It is a pleasure for me to address the most stakeholder, regulators, and professionals from our most dynamic and ever changing financial sector. This prestigious annual event of EBanking brings together able people and great ideas under one roof resulting
Published 28 Apr, 2011 12:00am
Message from Chief Executive, TOTAL Communication

Message from Chief Executive, TOTAL Communication

It has been an annual ritual now and as always seems just yesterday when the 8th e-banking conference was held last year. By the Grace of Almighty Allah, Total Communication will be completing a decade of e-banking events next year.
Published 28 Apr, 2011 12:00am
e-Banking and beyond

e-Banking and beyond

Bolstered by proliferation of electronic payment infrastructure and growing consumer confidence, transition from manual, paper-based systems to electronic payment systems has been on the rise for quite some time.
Published 28 Apr, 2011 12:00am
e-Banking: a security perspective

e-Banking: a security perspective

Conventional banking has always been slow and time consuming, so much that we need to wait several hours to process a simple transaction like clearing a check. But, e-Banking has tremendously reduced the time required to process banking transactions. It m
Published 28 Apr, 2011 12:00am
Engro Fertilisers Limited - HSE at Engro

Engro Fertilisers Limited - HSE at Engro

Engro Fertilizers Limited has been operating in Pakistan for almost half a century and it is one of the biggest conglomerates in Pakistan. Engro's Urea Fertiliser manufacturing site is located at Daharki, 600 km north of Karachi-Pakistan.
Published 28 Apr, 2011 12:00am
SSGC and health, safety and environment

SSGC and health, safety and environment

Natural Gas is the lightest and cleanest of hydrocarbon fuels. It is primarily composed of methane and has high-energy value and low carbon dioxide (CO2) and nitrogen oxide (NOX) emission when burnt as compared to any other fossil fuels. In addition, sulp
Published 28 Apr, 2011 12:00am
UK spies to take over CIA operations?

UK spies to take over CIA operations?

To bridge the trust deficit between US Central Intelligence Agency (CIA) and ISI, Pakistan and USA have accepted the mediatory role of the British Intelligence which was discussed during the recent visit of UK's Prime Minister David Cameron to Pakistan, a
Published 28 Apr, 2011 12:00am
Pakistan Petroleum Limited

Pakistan Petroleum Limited

The pioneer of the natural gas industry in the country, Pakistan Petroleum Limited (PPL) has been a frontline player in the energy sector since the mid-1950s. As a major supplier of natural gas, PPL today contributes some 25 percent of the country's total
Published 28 Apr, 2011 12:00am
UK spies to take over CIA operations?

UK spies to take over CIA operations?

To bridge the trust deficit between US Central Intelligence Agency (CIA) and ISI, Pakistan and USA have accepted the mediatory role of the British Intelligence which was discussed during the recent visit of UK's Prime Minister David Cameron to Pakistan, a
Published 28 Apr, 2011 12:00am
Lotte Pakistan PTA -delivering world-class safety performance

Lotte Pakistan PTA -delivering world-class safety performance

LOTTE, the South Korean Conglomerate with revenues of US $60 billion, operates Lotte PPTA - a world-class manufacturer of PTA. Lotte PPTA forms the backbone of the polyester chain and is a key supplier of raw material for a large part of Country's exports
Published 28 Apr, 2011 12:00am
Pakistan spurns US journal's baseless assertion

Pakistan spurns US journal's baseless assertion

Pakistan on Wednesday rejected a US media assertion to dump United States and instead align with China for striking a peace deal with Taliban and rebuilding the economy. An article published in Wall Street Journal (WSJ) alleged that Prime Minister Yusuf R
Published 28 Apr, 2011 12:00am
Pakistan spurns US journal's baseless assertion

Pakistan spurns US journal's baseless assertion

Pakistan on Wednesday rejected a US media assertion to dump United States and instead align with China for striking a peace deal with Taliban and rebuilding the economy. An article published in Wall Street Journal (WSJ) alleged that Prime Minister Yusuf R
Published 28 Apr, 2011 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 28 Apr, 2011 12:00am
Afghan airman shoots Nato troops, nine killed

Afghan airman shoots Nato troops, nine killed

Eight Nato troops and a contractor were killed on Wednesday when an Afghan ex-pilot opened fire after a row at a training centre, the worst attack of its kind in almost a decade of war. Although the killings appear to have stemmed from a disagreement rath
Published 28 Apr, 2011 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 28 Apr, 2011 12:00am
Afghan airman shoots Nato troops, nine killed

Afghan airman shoots Nato troops, nine killed

Eight Nato troops and a contractor were killed on Wednesday when an Afghan ex-pilot opened fire after a row at a training centre, the worst attack of its kind in almost a decade of war. Although the killings appear to have stemmed from a disagreement rath
Published 28 Apr, 2011 12:00am
Gold rallies to new record

Gold rallies to new record

Gold rose to a record high above $1,520 an ounce on Wednesday after the Federal Reserve announcement that it would keep US interest rates very low. It was the eighth record high in nine trading sessions for spot gold. The precious metal rose more than 1 p
Published 28 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 28 Apr, 2011 12:00am
Gold rallies to new record

Gold rallies to new record

Gold rose to a record high above $1,520 an ounce on Wednesday after the Federal Reserve announcement that it would keep US interest rates very low. It was the eighth record high in nine trading sessions for spot gold. The precious metal rose more than 1 p
Published 28 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 28 Apr, 2011 12:00am
Gold rallies to new record

Gold rallies to new record

Gold rose to a record high above $1,520 an ounce on Wednesday after the Federal Reserve announcement that it would keep US interest rates very low. It was the eighth record high in nine trading sessions for spot gold. The precious metal rose more than 1 p
Published 28 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 Wednesday (April 27, 2011).

Published 28 Apr, 2011 12:00am
Fed signals no rush to tighten after bond buying

Fed signals no rush to tighten after bond buying

The Federal Reserve signalled on Wednesday it is in no rush to scale back its support for the US recovery as it cut its forecast for 2011 economic growth. The Fed's policy-setting Federal Open Market Committee said after a two-day meeting it intends to co
Published 28 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 Wednesday (April 27, 2011).

Published 28 Apr, 2011 12:00am
Fed signals no rush to tighten after bond buying

Fed signals no rush to tighten after bond buying

The Federal Reserve signalled on Wednesday it is in no rush to scale back its support for the US recovery as it cut its forecast for 2011 economic growth. The Fed's policy-setting Federal Open Market Committee said after a two-day meeting it intends to co
Published 28 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 Wednesday (April 27, 2011).

Published 28 Apr, 2011 12:00am
Fed signals no rush to tighten after bond buying

Fed signals no rush to tighten after bond buying

The Federal Reserve signalled on Wednesday it is in no rush to scale back its support for the US recovery as it cut its forecast for 2011 economic growth. The Fed''s policy-setting Federal Open Market Committee said after a two-day meeting it intends to c
Published 28 Apr, 2011 12:00am
Fed signals no rush to tighten after bond buying

Fed signals no rush to tighten after bond buying

The Federal Reserve signalled on Wednesday it is in no rush to scale back its support for the US recovery as it cut its forecast for 2011 economic growth. The Fed''''s policy-setting Federal Open Market Committee said after a two-day meeting it intends to
Published 28 Apr, 2011 12:00am
FBR readies to buy PaCCS from Agility

FBR readies to buy PaCCS from Agility

The Federal Board of Revenue (FBR) is getting ready to enter into a unique sale/purchase agreement with Agility, to own Pakistan Auto-mated Customs Computerised System (PaCCS), it is learnt. Negotiations between the FBR and Agility, the Kuwait-based owner
Published 28 Apr, 2011 12:00am
FBR readies to buy PaCCS from Agility

FBR readies to buy PaCCS from Agility

The Federal Board of Revenue (FBR) is getting ready to enter into a unique sale/purchase agreement with Agility, to own Pakistan Auto-mated Customs Computerised System (PaCCS), it is learnt. Negotiations between the FBR and Agility, the Kuwait-based owner
Published 28 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 Wednesday (April 27, 2011).

Published 28 Apr, 2011 12:00am
FBR readies to buy PaCCS from Agility

FBR readies to buy PaCCS from Agility

The Federal Board of Revenue (FBR) is getting ready to enter into a unique sale/purchase agreement with Agility, to own Pakistan Auto-mated Customs Computerised System (PaCCS), it is learnt. Negotiations between the FBR and Agility, the Kuwait-based owner
Published 28 Apr, 2011 12:00am
EU's free access to Pakistan: India's support sought as talks begin

EU's free access to Pakistan: India's support sought as talks begin

Pakistan and India on Wednesday began their first trade talks since the 2008 Mumbai attacks with India pressing its demand for the grant of Most Favoured Nation (MFN) status while Islamabad working towards mustering Indian support on European Union (EU) d
Published 28 Apr, 2011 12:00am
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