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Archive - 2011-05-06
SBP mops up Rs17.5bn
Top News

SBP mops up Rs17.5bn

KARACHI: The State Bank of Pakistan (SBP) conducted Open Market Operation (OMO) and mopped up Rs 17.5 billion under its
Published 06 May, 2011 07:00pm
Two ton Gayle makes IPL history
Cricket

Two ton Gayle makes IPL history

BANGALORE: Chris Gayle became the first batsman to hit two centuries in the Indian Premier League when he smashed a 49-b
Published 06 May, 2011 06:40pm
Air India pilots call off strike
Asia

Air India pilots call off strike

NEW DELHI: Pilots at India's national flag carrier Air India have called off a 10-day strike that had crippled the ailin
Published 06 May, 2011 05:55pm
Nokia Pakistan: evolving in a new era
Top News

Nokia Pakistan: evolving in a new era

KARACHI: Nokia Pakistan is a part of multinational cellular technology company, Nokia and sells Nokia devices in Pa
Published 06 May, 2011 09:48am
SBP to sell t-bills in repo
Top News

SBP to sell t-bills in repo

KARACHI: The State Bank of Pakistan (SBP) said it will sell treasury bills to commercial banks on Saturday in 6-day repo
Published 06 May, 2011 08:14am
Sony shares fall sharply
Industry

Sony shares fall sharply

TOKYO: Sony shares dived on Friday as investors tried to gauge the damage from cyber attacks on the Japanese entertainme
Published 06 May, 2011 07:19am
Dollar rebounds against yen
Financial

Dollar rebounds against yen

TOKYO: The dollar rebounded from its lowest level in seven weeks against the yen in Asia on Friday, lifted by purchases
Published 06 May, 2011 07:18am
reasury papers in great demand
BR Research

reasury papers in great demand

Enormous liquidity paved way for a reasonably well-covered Treasury Bill auction on Wednesday. With financial institutions heavy on cash, th
Published 06 May, 2011 12:00am
Going branchless
BR Research

Going branchless

Two heads are better than one. And recent developments in the rolling out of technology-driven commercial products and services in Pakistan
Published 06 May, 2011 12:00am
Bin Laden's death was 'murder': Fidel Castro

Bin Laden's death was 'murder': Fidel Castro

Cuban revolution leader Fidel Castro, a fierce critic of US policy since taking power on the island more than 50 years ago, on Thursday called the killing of al Qaeda leader Osama bin Laden an "abominable act." Bin Laden was killed Monday by US special fo
Published 06 May, 2011 12:00am
President to visit Russia from May 11

President to visit Russia from May 11

President Asif Ali Zardari will pay an important official visit to Russia from May 11 to 14, 2011 at the invitation of President Dmitry Medvedev. Foreign Secretary Salman Bashir, while briefing media persons here at the Foreign Office on Thursday, said th
Published 06 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 06 May, 2011 12:00am
President to visit Russia from May 11

President to visit Russia from May 11

President Asif Ali Zardari will pay an important official visit to Russia from May 11 to 14, 2011 at the invitation of President Dmitry Medvedev. Foreign Secretary Salman Bashir, while briefing media persons here at the Foreign Office on Thursday, said th
Published 06 May, 2011 12:00am
Aptma proposes special energy tax

Aptma proposes special energy tax

Chairman All Pakistan Textile Mills Association (Aptma) Gohar Ejaz has proposed a special energy tax to overcome energy crisis in the country. He was addressing a press conference at the Aptma Punjab office here on Thursday. "Aptma is aware of the acute e
Published 06 May, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 06 May, 2011 12:00am
Aptma proposes special energy tax

Aptma proposes special energy tax

Chairman All Pakistan Textile Mills Association (Aptma) Gohar Ejaz has proposed a special energy tax to overcome energy crisis in the country. He was addressing a press conference at the Aptma Punjab office here on Thursday. "Aptma is aware of the acute e
Published 06 May, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2011 12:00am
Aptma proposes special energy tax

Aptma proposes special energy tax

Chairman All Pakistan Textile Mills Association (Aptma) Gohar Ejaz has proposed a special energy tax to overcome energy crisis in the country. He was addressing a press conference at the Aptma Punjab office here on Thursday. "Aptma is aware of the acute e
Published 06 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 May, 2011 12:00am
Efforts on to make IPO-Pakistan a trade, commerce-friendly body

Efforts on to make IPO-Pakistan a trade, commerce-friendly body

Efforts are underway to make Intellectual Property Organisation (IPO-Pakistan) a trade and commerce friendly organisation by promoting genuine business entrepreneurs and providing a congenial atmosphere for local and foreign investment, said Hameedullah J
Published 06 May, 2011 12:00am
France big market for Pakistani goods: Ikhtiar

France big market for Pakistani goods: Ikhtiar

Economist Mirza Ikhtiar Baig said on Thursday France was a big market for Pakistani goods, especially textile products. He said talking to a Private News Channel that Prime Minister Gilani was paying a timely visit to France, which would provide good oppo
Published 06 May, 2011 12:00am
Pakistanis say US shot Osama in 'cold blood'

Pakistanis say US shot Osama in 'cold blood'

A senior security official said US troops killed Osama bin Laden in "cold blood", fuelling a global controversy and straining a vital relationship Washington was trying to repair on Thursday. And Pakistan's army, in its first comment since Monday's raid,
Published 06 May, 2011 12:00am
Could bin Laden hideout become a shrine?

Could bin Laden hideout become a shrine?

Pakistan faces the prospect of Osama bin Laden's final hiding place becoming a shrine or macabre tourist spot unless the military destroys a compound attracting hundreds of visitors a day. While the Americans eased the body of the al Qaeda chief into the
Published 06 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
National unity to steer country out of crisis: Firdous

National unity to steer country out of crisis: Firdous

Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Thursday that national unity, consensus and co-ordination are required to steer the country out of crisis. Talking to media outside the parliament, she said "Country's present situati
Published 06 May, 2011 12:00am
Jamaat-e-Islami's rallies against US today

Jamaat-e-Islami's rallies against US today

On the appeal of the Jamaat-e-Islami chief, Syed Munawar Hasan countrywide protest will be held on Friday against the increasing US interference in the country, drone attacks and the slavish mentality of the Pakistani rulers. Rallies and demonstrations wi
Published 06 May, 2011 12:00am
Security agencies on high alert

Security agencies on high alert

The security agencies have been put on high alert following Osama bin Laden's killing fearing a possible backlash from militant outfits against the government institutions. Security of Government officers, NGOs, international donors and important building
Published 06 May, 2011 12:00am
US operation in Abbotabad condemned

US operation in Abbotabad condemned

Around 100 activists of Pasban on Thursday organised a rally in front of Multan Press Club to condemn the US operation in Abbotabad and challenging the sovereignty and independence of Pakistan. The rally was led by Muhammad Afzal Mughal district organiser
Published 06 May, 2011 12:00am
LSE moot discusses financial sector development

LSE moot discusses financial sector development

The second day of Lahore School of Economics' seventh Annual Conference on 'Management of Pakistan Economy' brought together a group of distinguished researchers and policymakers from Pakistan and internationally to discuss "Financial Sector Development a
Published 06 May, 2011 12:00am
HEC becomes a role model for other countries

HEC becomes a role model for other countries

Speakers at a dialogue on higher education have called for attaching priority to education and strengthening the institutions like Higher Education Commission (HEC), which is key to achieve the goal of national development. They were speaking at Hamdard T
Published 06 May, 2011 12:00am
Heat wave conditions may subside from today

Heat wave conditions may subside from today

Met Office predicted here on Thursday that a westerly weather system has entered the country through Balochistan . This system would cause scattered dust storm and rain in parts of the country on Friday.
Published 06 May, 2011 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee traded on both side against dollar on currency market on Thursday, dealers said. The rupee managed to recover seven paisa in relation to dollar for buying and selling at 84.53 and 84.58, they said. In the fourth Asian trade euro hovered near a 1
Published 06 May, 2011 12:00am
Setting up of new grain market approved

Setting up of new grain market approved

The Punjab Minister for Agriculture and Livestock Malik Ahmad Ali Aulakh has approved setting up of a new grain and vegetable market spreading over an area of 369 kanals in Sahiwal district. The Minister also approved procurement of 58,500 metric tons of
Published 06 May, 2011 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee traded on both side against dollar on currency market on Thursday, dealers said. The rupee managed to recover seven paisa in relation to dollar for buying and selling at 84.53 and 84.58, they said. In the fourth Asian trade euro hovered near a 1
Published 06 May, 2011 12:00am
Anti-polio campaign from May 9

Anti-polio campaign from May 9

The four-day national anti-polio campaign will start from May 09. Talking to APP on Thursday the Executive District Officer (EDO) Health, Dr Arshad Bajwah said 515,930 children of less than five years age would be administered anti-polio vaccines and Vita
Published 06 May, 2011 12:00am
Gilani urges expatriates to work for Pakistan's positive image

Gilani urges expatriates to work for Pakistan's positive image

Prime Minister Syed Yousuf Raza Gilani on Thursday stressed upon the Pakistani expatriates to act as the country's ambassadors and focus on improving their homeland's image abroad. The Prime Minister expressed these views at a reception hosted by Pakistan
Published 06 May, 2011 12:00am
ASWJ activist killed, two others injured

ASWJ activist killed, two others injured

A sector in-charge of Ahle Sunnat Wal Jamaat (ASWJ) was killed while two others were injured in the limits of North Nazimabad police station by unidentified attackers. According to details, Haji Masood-ur-Rehman, 32, son of Haji Musafir Khan was targeted
Published 06 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
Rivers inflows and outflows

Rivers inflows and outflows

The position of the river inflows/outflows and the reservoir levels on Thursday is as under: River Indus at Tarbela inflows 83,900 cusecs, outflows 51,000 cusecs, river Kabul at Nowshera inflow and outflow 58,000 cusecs, Indus at Chashma inflow 86,000 cus
Published 06 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
FBR advised not to set tax target beyond Rs 1.7 trillion

FBR advised not to set tax target beyond Rs 1.7 trillion

Former Advisor to the ministry of finance and Dean NUST Business School, Dr Ishfaque Hasan Khan on Thursday said the Federal Board of Revenue should not fix revenue collection target beyond Rs 1,765 to Rs 1,775 for the next budget (2011-12), as any figure
Published 06 May, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
MoC seeks end to regulatory duty on imported goods

MoC seeks end to regulatory duty on imported goods

Commerce Ministry (MoC) has reportedly approached the Economic Co-ordination Committee (ECC) of the cabinet for eliminating regulatory duties on imported goods agreed by the tariff reforms committee headed by the Deputy Chairman Planning Commission, well-
Published 06 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
Capital police nab seven alleged outlaws

Capital police nab seven alleged outlaws

Islamabad Police during its efforts to curb crime have nabbed seven outlaws from various parts of the federal capital and recovered 6.640 kg charas and three pistols (30-bore) from their possession, said a spokesman of Capital Police here on Thursday.
Published 06 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (May 05, 2011) and for Friday (May 06, 2011).
Published 06 May, 2011 12:00am
Federal lodges: Senate body seeks list of defaulters

Federal lodges: Senate body seeks list of defaulters

Senate Standing Committee on Housing and Works on Thursday sought list of those parliamentarians and government officials who have not paid rents of the federal lodges. In a meeting presided by Chairman Senator Abdul Nabi Bangash, the committee recommende
Published 06 May, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
Senate body concerned over PHDEB's performance

Senate body concerned over PHDEB's performance

Senate's Standing Committee on Commerce on Thursday expressed concerns on the performance of Pakistan Horticulture Development and Export Board (PHDEB) and directed its board to submit a report in this regard within 15 days. "The meeting of the board has
Published 06 May, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 06 May, 2011 12:00am
Science and technology exhibition held at PCSIR

Science and technology exhibition held at PCSIR

The Ministry of Science & Technology (MoST) in collaboration with the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) organised a one day science and technology, exhibition here at Pakistan Council of Scientific and Industrial Research (PCSI
Published 06 May, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 06 May, 2011 12:00am
Dwindling export, bumper crop: vegetable prices decline

Dwindling export, bumper crop: vegetable prices decline

Bumper crop and decline in export of vegetables crashed its prices in local retail markets substantially. Retail prices of onions has registered a sharp decline and offered for sale at Rs 12 to Rs 15 per kg depending on its quality. The retailers said tha
Published 06 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
Seminar

Seminar

The Karachi Branch Council (KBC) under the aegis of Institute of Cost and Management Accountants of Pakistan (ICMAP) is organising a Pre-Budget Seminar 2011-2012 in collaboration with The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) at F
Published 06 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 05, 2011).

Published 06 May, 2011 12:00am
Senators hit out at US operation to kill Osama

Senators hit out at US operation to kill Osama

Members of the Upper House of the Parliament delivered furious speeches against the US operation to kill Osama bin Laden, and raised many pinching questions regarding armed forces, intelligence agencies and the government on breaching of the territorial s
Published 06 May, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (May 05, 2011) and the forecast for Friday (May 06, 2011).

Published 06 May, 2011 12:00am
Dawood Family Takaful Limited

Dawood Family Takaful Limited

Dawood Family Takaful Limited announced unit prices for the following funds on May 05, 2011.

Published 06 May, 2011 12:00am
Pakistan Mashaikh Council convention held

Pakistan Mashaikh Council convention held

The third annual convention of Pakistan Mashaikh Council and Muttahida Majlas-e-Mashaikh Pakistan was held here at Aiwan-e-Iqbal Lahore. The topic of the discussion was " Problems of Muslim Community and the Roles of Shrines". The convention was attended
Published 06 May, 2011 12:00am
Dawood Family Takaful Limited

Dawood Family Takaful Limited

Dawood Family Takaful Limited announced unit prices for the following funds on May 05, 2011.

Published 06 May, 2011 12:00am
Khushhalibank partners with Western Union for global remittance

Khushhalibank partners with Western Union for global remittance

Khushhalibank, the largest microfinance bank in Pakistan, and Western Union, a leader in global payment services, have announced a commercial agreement to introduce international inbound remittance services in 76 districts across Pakistan where Khushhalib
Published 06 May, 2011 12:00am
Dawood Family Takaful Limited

Dawood Family Takaful Limited

Dawood Family Takaful Limited announced unit prices for the following funds on May 05, 2011.

Published 06 May, 2011 12:00am
Rana Tauseef's appointment welcomed

Rana Tauseef's appointment welcomed

Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA) North Zone, Chaudhry Salamat Ali has welcomed induction of Rana Asif Tauseef MNA as Minister of State for Privatisation and hoped that with the representation from Faisalabad, problem
Published 06 May, 2011 12:00am
Nisar wants government to probe into Abbottabad incident

Nisar wants government to probe into Abbottabad incident

Leader of the Opposition in National Assembly Chaudhry Nisar Ali Khan on Thursday demanded of the government to probe into Abbottabad incident and shared facts with the nation in this regard. Talking to reporters outside Parliament House, he said that the
Published 06 May, 2011 12:00am
Wheat procurement process well under way

Wheat procurement process well under way

The provincial government will achieve the target of purchase of 4 million MT wheat from the growers, said Punjab Minister for Food Chaudhry Abdul Ghafoor while talking to the wheat growers and newsmen during the inspection of food department's wheat purc
Published 06 May, 2011 12:00am
Government tries to avoid debate on bin Laden's killing

Government tries to avoid debate on bin Laden's killing

The government on Thursday tired its level best to avoid debate on the issue of Osama bin Laden's killing by the US forces inside Pakistan in Upper House of the Parliament. The opposition members wanted to continue debate on this issue but Leader of the H
Published 06 May, 2011 12:00am
Condolence

Condolence

The Lahore Chamber of Commerce and Industry has expressed deep grief and sorrow over demise of the father of Khamis Saeed Butt, former Executive Committee Member of the LCCI.
Published 06 May, 2011 12:00am
Eight sacked SME Bank officials reinstated: PAC expresses reservation

Eight sacked SME Bank officials reinstated: PAC expresses reservation

The Public Accounts Committee (PAC) expressed displeasure over reinstatement of eight SME Bank officials, who were sacked on the charges of financial irregularities in 2005, by the then Secretary Finance Naveed Ahsan. The PAC asked the Secretary Finance D
Published 06 May, 2011 12:00am
Gilani's France visit

Gilani's France visit

Prime Minister Yousuf Raza Gilani's visit to France is expected to result in a declaration that envisages greater financial and trade support, institutional cooperation in various sectors and the establishment of an administrative and a trade committee. T
Published 06 May, 2011 12:00am
Palestinian unity

Palestinian unity

Although, beset with myriad machinations of dictatorial forces and foul play of alien carpetbaggers, the Arab Spring has begun transforming the socio-political landscape of the entire Arab world from Morocco to the borders of Iran like never before. The A
Published 06 May, 2011 12:00am
Budget proposals - I: Need for national tax court

Budget proposals - I: Need for national tax court

In any society, administration and dispensation of justice should be the top most priority. A society without a sound, reliable and speedy judicial system, which does not ensure effective dispensation of justice, cannot survive for long. Administration an
Published 06 May, 2011 12:00am
Fraud and corruption fears at Indian 'charities'

Fraud and corruption fears at Indian 'charities'

Engineer Deepak Sharma thought he was dealing with a poverty relief project, but now believes he was caught up in a "Ponzi" fraud scheme - just one victim of India's unregulated non-profit sector. He is fighting a legal battle to recover 100,000 rupees ($
Published 06 May, 2011 12:00am
Billions at stake Unrestricted import of used cars

Billions at stake Unrestricted import of used cars

With the increase in the age limit of imported used cars up to five years and the decision to raise depreciation allowance from 50% to 60%, Pakistan has moved towards an extremely liberal import policy, which was already more liberal than other countries
Published 06 May, 2011 12:00am
Facility to shareholders

Facility to shareholders

In the past shareholders of public limited companies had been receiving copies of quarterly/annual accounts and other statutory notices through mail. Since the use of website for the purpose, companies are publishing an announcement in the newspapers abou
Published 06 May, 2011 12:00am
Media's role in establishment of law, order vital

Media's role in establishment of law, order vital

Capital City Police Officer (CCPO), Muhammad Aslam Tareen has said that media plays a pivotal role in establishment of law and order in the society. On the invitation of governing body of Lahore Press Club, the CCPO visited LPC Thursday. He remained with
Published 06 May, 2011 12:00am
Onion exports come to a halt

Onion exports come to a halt

Exports of Pakistani onion has come to a virtual halt since last one month as a result of resumption of exports of onion by India, sidelining Pakistani onion. India has been a major supplier of onion to most of the countries of the region. Following this
Published 06 May, 2011 12:00am
Hafeez exchanges views with economic leaders

Hafeez exchanges views with economic leaders

Abdul Hafeez Shaikh, Minister of Finance, Revenue, Economic Affairs and Statistics, who is currently leading Pakistan's delegation to the 44th Annual Meeting of the Board of Governors of Asian Development Bank (ADB) in Hanoi, Vietnam exchanged views with
Published 06 May, 2011 12:00am
Pakistani envoy designate to Azerbaijan meets Zardari

Pakistani envoy designate to Azerbaijan meets Zardari

Pakistan's Ambassador designate to the Republic of Azerbaijan Inayat Ullah Kakar on Thursday called on President Asif Ali Zardari at Aiwan-e-Sadr and discussed matters relating to his new assignment. The President felicitated the newly appointed ambassado
Published 06 May, 2011 12:00am
Balochistan legislators for setting up coal-based plants

Balochistan legislators for setting up coal-based plants

Balochistan lawmakers on Thursday suggested establishment of plants, which would produce electricity from coal. The suggestion was made by provincial Health Minister, Ainullah Shams who said that the province would not only generate a huge sum of revenue
Published 06 May, 2011 12:00am
Qaim for constant vigilance of uplift projects

Qaim for constant vigilance of uplift projects

Laying emphasis on timely completion of the ongoing development schemes in the province, Chief Minister Sindh Qaim Ali Shah has underlined the need of having constant vigilance on these projects. He expressed this while chairing a meeting at CM's House on
Published 06 May, 2011 12:00am
Supreme Court directs AGP to present record of FIR against ZAB

Supreme Court directs AGP to present record of FIR against ZAB

The Supreme Court on Thursday directed Attorney General for Pakistan to summon heads of Punjab Police, Railway Police and FIA and direct them to trace out ZAB case records from registration of the FIR till closure of the file and present the same before t
Published 06 May, 2011 12:00am
SHC calls report on efforts to help missing persons families

SHC calls report on efforts to help missing persons families

Sindh High Court on Thursday directed Deputy Attorney General to submit report on efforts being taken by government for welfare of families of all missing persons. A division bench, headed by Chief Justice Mushir Alam, was hearing petition, which sought d
Published 06 May, 2011 12:00am
ACCA proposes FBR to reduce corporate tax rate

ACCA proposes FBR to reduce corporate tax rate

ACCA has proposed the Federal Board of Revenue (FBR) to reduce the corporate tax rate from 35% to 34% and reduction in sales tax rate from 17 to 15 percent in the upcoming budget (2011-2012).
Published 06 May, 2011 12:00am
EPZA exports register 39 percent increase

EPZA exports register 39 percent increase

Exports from Export Processing Zones Authority during the period July 2010 - April 2011 showed a record growth of 39 percent. According to the statistics released by EPZA, exports during the period under review stood 39 percent higher at over US $447.044
Published 06 May, 2011 12:00am
Shutter down strike observed in Kalat

Shutter down strike observed in Kalat

Traders observed shutter down strike, on the call of Anjuman Tajran Kalat, to protest against continuous incidents of theft in the city particularly in commercial areas. According to a statement issued on Thursday, addressing the protesters, President Anj
Published 06 May, 2011 12:00am
Fishermen, traders for cut in oil prices

Fishermen, traders for cut in oil prices

Fishermen and small traders on Thursday demanded of the government to cut the prices of petroleum products, saying that the soaring fuel cost has further increased their business expenditures. Talking to Business Recorder, the fishermen of Baba Isl
Published 06 May, 2011 12:00am
'Expo Pakistan' exhibition to be organised from October 20

'Expo Pakistan' exhibition to be organised from October 20

Expo Pakistan is going to be organised from October 20th to 23rd, 2011 in Karachi. This was announced by Tariq Iqbal Puri, Chief Executive, Trade Development Authority of Pakistan, while talking to media at his office, here on Thursday. He said that the s
Published 06 May, 2011 12:00am
Need stressed to develop entrepreneur skills among youths

Need stressed to develop entrepreneur skills among youths

One-day workshop on Youth Entrepren-eurship was held at Hyderabad Chamber of Commerce & Industry (HCCI) in collaboration with Youth Affairs Department, Government of Sindh, Small & Medium Enterprises Development Authority (Smeda) Hyderabad and HCCI, Hyder
Published 06 May, 2011 12:00am
FAML's rating reaffirmed with stable outlook

FAML's rating reaffirmed with stable outlook

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Management Quality rating of Faysal Asset Management Limited (FAML) at 'AM2-' (AM Two Minus) Outlook on the rating is 'Stable'. In the past one and a half years, the AMC saw growth in fund
Published 06 May, 2011 12:00am
FAML's rating reaffirmed with stable outlook

FAML's rating reaffirmed with stable outlook

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Management Quality rating of Faysal Asset Management Limited (FAML) at 'AM2-' (AM Two Minus) Outlook on the rating is 'Stable'. In the past one and a half years, the AMC saw growth in fund
Published 06 May, 2011 12:00am
ST activist among three killed in city

ST activist among three killed in city

At least three persons including an activist of Sunni Tehrik (ST) were gunned down in separate incidents, here on Thursday. According to details, an activist of ST was shot dead at Narain Pura Old City area within the limits of Eidgah police station. The
Published 06 May, 2011 12:00am
'Government working to energise, develop rural areas'

'Government working to energise, develop rural areas'

Sindh Minister for Special Education & Bonded Labour, Syed Ali Nawaz Shah has said that present government is planning to energise and develop rural areas and bring them at the par with the urban to resolve basic problems of people residing in backward ar
Published 06 May, 2011 12:00am
Nokia Pakistan: evolving in a new era

Nokia Pakistan: evolving in a new era

Nokia Pakistan is part of a multinational cellular technology company, Nokia, and sells Nokia devices in Pakistan. The management started operations in Pakistan about four years ago. Prior to that, business in Pakistan was managed by distributors. In this
Published 06 May, 2011 12:00am
AHL, Lucky Cement's joint investors' conference

AHL, Lucky Cement's joint investors' conference

Arif Habib Limited (AHL) has arranged an Investors' Conference with the top management of Lucky Cement Limited at a local hotel here on Thursday. The CEO of Lucky Cement Limited Muhammad Ali Tabba presented a brief update on company's financials, operatio
Published 06 May, 2011 12:00am
AHL, Lucky Cement's joint investors' conference

AHL, Lucky Cement's joint investors' conference

Arif Habib Limited (AHL) has arranged an Investors' Conference with the top management of Lucky Cement Limited at a local hotel here on Thursday. The CEO of Lucky Cement Limited Muhammad Ali Tabba presented a brief update on company's financials, operatio
Published 06 May, 2011 12:00am
Telenor Pakistan's financial results announced

Telenor Pakistan's financial results announced

Telenor Group has announced results for the first quarter of 2011. According to details, at the end of the first quarter of 2011 Telenor Pakistan subscribers reached 25.75 million which is nearly 5 percent higher than the previous quarter. EBIDTA margin r
Published 06 May, 2011 12:00am
Legal aid centres for 5 districts soon

Legal aid centres for 5 districts soon

Free legal aid centres would be established in five districts of the province. This was stated by Sindh Minister for Human Rights Nadia Gabol, here on Thursday. She said that initially those centres would be set up in Sukkur, Larkana, Jacobabad, Dadu and
Published 06 May, 2011 12:00am
US MIDDAY: silver dives

US MIDDAY: silver dives

Silver plunged 7 percent on Thursday, heading for its biggest weekly loss since 1983 and dragging gold 2 percent lower, as panic selling accelerated across the commodities sector. Silver has now lost more than 20 percent, the conventional criteria for a b
Published 06 May, 2011 12:00am
US MIDDAY: copper sinks

US MIDDAY: copper sinks

Copper nose-dived more than 3 percent on Thursday to its lowest level since December as fears about sputtering global growth and growing inflation risk triggered a vicious cross-commodity crash. The 19-commodity Reuters-Jefferies CRB index was last off al
Published 06 May, 2011 12:00am
US MIDDAY: grain prices slump

US MIDDAY: grain prices slump

Grain prices fell roughly 2 percent on Thursday to their lowest level in more than a month, but the losses by comparison trailed those for other major commodities that suffered their biggest rout since 2008. Analysts linked the sell-off to financial inves
Published 06 May, 2011 12:00am
US MIDDAY: coffee and sugar tumble

US MIDDAY: coffee and sugar tumble

Arabica futures plunged to a weak settlement by heavy investor selling that hit the commodity complex on Thursday, pushing coffee down to its biggest two-day loss in eight weeks. Raw sugar futures finished at an eight-month low and US cocoa slumped down t
Published 06 May, 2011 12:00am
Silver tumbles to five-week low in London

Silver tumbles to five-week low in London

Silver tumbled to a 5-week low on Thursday, on track for its biggest weekly slide since 1983, caught up in a broader commodities sell-off and gold fell to its lowest in more than a week. Spot silver fell more than 5 percent to $37.32 an ounce, down about
Published 06 May, 2011 12:00am
Silver down, gold steadies in Asia

Silver down, gold steadies in Asia

Spot silver prices dropped almost 2 percent on Thursday, down 22 percent from a record hit a week ago, after another hike in margin requirements for US silver futures squeezed some of the speculative froth out of the market. Gold held steady, with traders
Published 06 May, 2011 12:00am
US silver, gold fall

US silver, gold fall

A 5-percent tumble in silver on Wednesday marked its biggest three-day loss in five years, and dragged gold down, as speculators continued to dump long positions after margins requirements were hiked early this week. Silver has now lost 20 percent, the co
Published 06 May, 2011 12:00am
Liffe sugar, cocoa slide in commodities selloff

Liffe sugar, cocoa slide in commodities selloff

Liffe August white sugar fell $10.40 to close at $582.30 a tonne on Thursday weighed by broad-based losses in oil and other commodity markets as well as an improving supply outlook. Liffe July robusta coffee edged up $5 to close at $2,582 per tonne. Price
Published 06 May, 2011 12:00am
New York sugar, coffee and cocoa fall

New York sugar, coffee and cocoa fall

Arabica coffee futures tumbled from 34-year highs on Wednesday as part of a commodity-wide sell-off due to weak US data and speculation that global economic growth could stall this year. Sugar lost ground because of ample supplies, while cocoa slid due to
Published 06 May, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm futures fell on Thursday as traders booked profits on expectations of higher stocks in the months to come and sharp declines in agriculture commodities. The tropical oil has lost 15 percent so far this year and could extend the losses as th
Published 06 May, 2011 12:00am
US soyabeans lower

US soyabeans lower

US soyabean futures ended lower Wednesday, with the July contract down nearly 1 percent, in a third consecutive decline and a sixth lower close in seven sessions. July soyabeans ended down 11-3/4 cents at $13.52. Traders cited robust harvests in South Ame
Published 06 May, 2011 12:00am
Oil crashes 10 percent in record rout

Oil crashes 10 percent in record rout

Oil collapsed into free-fall on Thursday, diving 10 percent and sending US crude back under $100 a barrel as investors staged an unprecedented stampede for the exits. Weak economic data from Europe and the United States fed concerns that have battered com
Published 06 May, 2011 12:00am
Oil crashes 10 percent in record rout

Oil crashes 10 percent in record rout

Oil collapsed into free-fall on Thursday, diving 10 percent and sending US crude back under $100 a barrel as investors staged an unprecedented stampede for the exits. Weak economic data from Europe and the United States fed concerns that have battered com
Published 06 May, 2011 12:00am
Oil crashes 10 percent in record rout

Oil crashes 10 percent in record rout

Oil collapsed into free-fall on Thursday, diving 10 percent and sending US crude back under $100 a barrel as investors staged an unprecedented stampede for the exits. Weak economic data from Europe and the United States fed concerns that have battered com
Published 06 May, 2011 12:00am
Copper falls to lowest since December

Copper falls to lowest since December

High anxiety about global economic growth knocked copper to its lowest this year on Thursday, sweeping the rest of the base metals complex with it in a broad-based fall across commodities. Tepid economic data from top metals consumers the United States an
Published 06 May, 2011 12:00am
Shanghai copper plunges

Shanghai copper plunges

Shanghai copper dropped to five-month lows on Thursday and London futures hit their lowest since mid-March in a broad decline across commodities spurred by worries over the US economy and further monetary tightening in China. The most-active July copper c
Published 06 May, 2011 12:00am
US copper plummets

US copper plummets

Copper suffered its biggest one-day loss since early March on Wednesday, as concerns about inflation-fighting measures in China and disappointing US data pointed to less demand from the world's top-two consumers. The July COMEX copper contract dropped 11.
Published 06 May, 2011 12:00am
New York cotton settles near three-month low

New York cotton settles near three-month low

US cotton futures finished near a three-month low Thursday on investor sales as a commodity-wide sell-off undermined a wide variety of markets and the weak tone could last into next week, analysts said. The Reuters-Jefferies CRB index, a global benchmark
Published 06 May, 2011 12:00am
Wall Street Journal launches WikiLeaks rival

Wall Street Journal launches WikiLeaks rival

The Wall Street Journal launched a WikiLeaks rival called "SafeHouse" on Thursday, calling for online submissions to help uncover fraud and abuse in business and politics. "If you have newsworthy contracts, correspondence, emails, financial records or dat
Published 06 May, 2011 12:00am
Bangladesh's Yunus loses final legal battle

Bangladesh's Yunus loses final legal battle

Bangladesh's Supreme Court on Thursday dismissed a final attempt by Nobel-winning microfinance pioneer Muhammad Yunus to overturn an order sacking him from the bank he founded. Yunus's lawyers lodged a recall request after his appeal was turned down last
Published 06 May, 2011 12:00am
Swiss freeze $81 million in assets linked to Gbagbo

Swiss freeze $81 million in assets linked to Gbagbo

Switzerland has frozen 70 million Swiss francs ($81 million) linked to former Ivory Coast president Laurent Gbagbo and his associates, the Swiss Foreign Ministry said on Thursday. Gbagbo had refused to leave power after an election last November that UN-c
Published 06 May, 2011 12:00am
First body retrieved from Air France wreck in Atlantic

First body retrieved from Air France wreck in Atlantic

An undersea recovery team has retrieved a first body from the wreck of an Air France jet that crashed into the Atlantic in 2009 with the loss of all 228 on board, French police said Thursday. "Having remained submerged for two years at a depth of 3,900 me
Published 06 May, 2011 12:00am
NASA marks 50th anniversary of manned US space flight

NASA marks 50th anniversary of manned US space flight

The United States space program was down and out when Alan Shepard climbed inside a one-man capsule on May 5, 1961, for a 15-minute ride. Cold War rival Russia had flown cosmonaut Yuri Gagarin first - less than a month before on a flight that was higher a
Published 06 May, 2011 12:00am
Obama visits Ground Zero

Obama visits Ground Zero

Days after the killing of Osama bin Laden, US President Barack Obama met New York fire-fighters and police on Thursday and visited Ground Zero to offer comfort to a city still scarred by the September 11 attacks. His predecessor George W. Bush, just three
Published 06 May, 2011 12:00am
UN rights chief wants 'full disclosure' on bin Laden killing

UN rights chief wants 'full disclosure' on bin Laden killing

UN human rights chief Navi Pillay on Thursday called for "a full disclosure of the accurate facts" to determine the legality of the killing of al Qaeda leader Osama bin Laden. "I'm still for a full disclosure of the accurate facts," Pillay told reporters
Published 06 May, 2011 12:00am
Al Qaeda suspect confesses as German trial opens

Al Qaeda suspect confesses as German trial opens

A German-Syrian man admitted Thursday to belonging to a terrorist group and training in an al Qaeda paramilitary camp in Pakistan, and now faces up to five years in prison under a plea deal, German officials said. Frankfurt state court judge Thomas Sagebi
Published 06 May, 2011 12:00am
Two al Qaeda leaders killed in Yemen

Two al Qaeda leaders killed in Yemen

Two mid-level al Qaeda leaders were killed on Thursday in an apparent air strike on their car in a remote province of Yemen, Osama bin Laden's ancestral homeland, witnesses said. Yemen's Defence Ministry confirmed that two al Qaeda leaders had been killed
Published 06 May, 2011 12:00am
Syrian army pulls back in Deraa

Syrian army pulls back in Deraa

Syria said on Thursday army units have begun to leave Deraa, the heart of an uprising against President Bashar al-Assad, but residents described a city still under siege. Soldiers also raided homes across the country as President Bashar al-Assad grappled
Published 06 May, 2011 12:00am
US sanctions 3 firms owned by Libyan government

US sanctions 3 firms owned by Libyan government

The United States on Thursday sought to increase pressure on the Libyan government by imposing financial sanctions on three companies owned by Muammar Qadhafi's government. London-based Dalia Advisory Ltd, Libya's state broadcasting company and Lafico Alg
Published 06 May, 2011 12:00am
War on terrorism does not end with Laden's death: Hillary Clinton

War on terrorism does not end with Laden's death: Hillary Clinton

US Secretary of State Hillary Rodham Clinton on Thursday said Osama bin Laden's death would not diminish US efforts to combat international terrorism, including in Afghanistan. "Bin Laden's death sent an unmistakable message about the strength of the reso
Published 06 May, 2011 12:00am
Hundreds of millions pledged for Libyan rebels

Hundreds of millions pledged for Libyan rebels

International donors pledged hundreds of millions of dollars for Libya's rebels on Thursday and promised to overcome legal problems to free up more aid using frozen regime assets worth tens of billions. Leaders of the rebellion against Muammar Qadhafi sai
Published 06 May, 2011 12:00am
Astana Economic Forum to explore new ways, solution to economy

Astana Economic Forum to explore new ways, solution to economy

To identify the new ways to develop and renew the world's economy, the Astana Economic Forum an international dialogue platform, held its fourth two-day discussion here on Tuesday which is attended by experts from Kazakhstan, US, European Union, China, Ja
Published 06 May, 2011 12:00am
Sudan cabinet endorses two new Darfur states

Sudan cabinet endorses two new Darfur states

The Sudanese cabinet on Thursday approved a bill to add two new states to Darfur's existing three, official media reported, in a move which rebels said undermines prospects for peace in the war-torn region. "The draft law embodies the recommendations of t
Published 06 May, 2011 12:00am
UHS research board meets

UHS research board meets

The 54th meeting of Advanced Studies and Research Board of the University of Health Sciences (UHS), which held here on Thursday with acting Vice Chancellor Professor Muhammad Tahir in the chair, considered synopses for registration of students in various
Published 06 May, 2011 12:00am
PILDAT welcomes parliamentary body's announcement

PILDAT welcomes parliamentary body's announcement

Pakistan Institute of Legislative Development and Transparency (PILDAT) has welcomed the announcement by the Parliamentary Committee on National Security to convene its meeting on May 9. "It is a much needed initiative and crucial for Parliament to invest
Published 06 May, 2011 12:00am
Electricity demand soars to 17,874 megawatts

Electricity demand soars to 17,874 megawatts

Though Pakistan Electric Power Company (Pepco) is struggling to increase power generation and improve distribution system, yet the hot and dry weather has frustrated its efforts, as electricity demand soared to 17,874 MW on Thursday, an increase of almost
Published 06 May, 2011 12:00am
PMEX crosses stock exchanges' combined volume

PMEX crosses stock exchanges' combined volume

The Pakistan Mercantile Exchange (PMEX) formerly National Commodity Exchange continues to grow at a rapid pace. In April 2011, PMEX trading volumes for the first time exceeded the combined volumes of Karachi, Lahore and Islamabad Stock Exchanges in terms
Published 06 May, 2011 12:00am
LHC allows JuD chief to make ministry as party

LHC allows JuD chief to make ministry as party

The Lahore High Court here Thursday allowed Jamatud Dawa (JuD Chief, Hafiz Muhammad Saeed, to make Ministry of Foreign Affairs as party in petition seeking directions for the government to defend him in Mumbai attacks case before a US court.
Published 06 May, 2011 12:00am
Judicial inquiry into Gujjar Khan incident ordered

Judicial inquiry into Gujjar Khan incident ordered

Punjab Chief Minister, Muhammad Shahbaz Sharif here on Thursday has ordered judicial inquiry into the incident at Gujjar Khan and posting of the SP concerned as OSD. He was presiding over a meeting to review Gujjar Khan incident during the day. Provincial
Published 06 May, 2011 12:00am
Chief Justice promises professional lawyers to be elevated to bench

Chief Justice promises professional lawyers to be elevated to bench

Chief Justice Pakistan Iftikhar Muhammad Chaudhry has promised to fill vacancies of judges in the Lahore High Court (LHC) by elevating professional lawyers especially from Lahore. This was stated by Secretary Lahore High Court Bar Association Arshad Malik
Published 06 May, 2011 12:00am
President to visit Kuwait from May 7

President to visit Kuwait from May 7

President Asif Ali Zardari will pay a two-day official visit to Kuwait starting from May 7 (tomorrow) at the invitation of Amir of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah. During the visit, the President will have an audience with Amir of Kuwait Sh
Published 06 May, 2011 12:00am
Senior civil servants: ninth senior management course held

Senior civil servants: ninth senior management course held

A delegation of 24 participants of 9th Senior Management Course organised for senior civil servants from various groups visited University of Veterinary and Animal Sciences (UVAS) on Thursday. The delegation met Vice-Chancellor UVAS Professor Dr Muhammad
Published 06 May, 2011 12:00am
'Kitchen Gardening' project: minister to review progress today

'Kitchen Gardening' project: minister to review progress today

Malik Ahmad Ali Aulakh, Minister for Agriculture, Punjab will review the progress of 'Kitchen Gardening' project launched by Punjab government in a meeting to be held on Friday (today). The meeting will be held at Agriculture House Punjab, Lahore wherein
Published 06 May, 2011 12:00am
Pakistan beat New Zealand 4-2 in Azlan Shah Cup opener

Pakistan beat New Zealand 4-2 in Azlan Shah Cup opener

Asian Games champions Pakistan launched their campaign in the Sultan Azlan Shah Cup hockey tournament with a facile 4-2 victory over a fighting New Zealand in Ipoh, Malaysia on Thursday. Enjoying territorial dominance against the Black sticks, Pakistan op
Published 06 May, 2011 12:00am
South Korea trump India

South Korea trump India

South Korea beat fellow defending champions India 3-2 in a stunning comeback from two goals down in one of the opening matches of the Sultan Azlan Shah Cup on Thursday. Both teams are defending the title after being declared joint champions when heavy rai
Published 06 May, 2011 12:00am
Kochi stun favourites Kolkata

Kochi stun favourites Kolkata

A fine half-century by Eoin Morgan went in vain as Kochi pulled off a 17-run upset win over Kolkata Knight Riders on Thursday to spice up the race for the play-offs in the Indian Premier League. Chasing 157, Kolkata were cruising at 69-0 but paceman Raiph
Published 06 May, 2011 12:00am
CAS overturns ban on player over match-fixing

CAS overturns ban on player over match-fixing

Sport's highest tribunal has overturned an 18-month ban on a Hungarian club player allegedly targeted by match-fixers before a Champions League fixture but maintained a two-year ban on his Debrecen team mate. The Court of Arbitration for Sport (CAS) annul
Published 06 May, 2011 12:00am
Djokovic equals Lendl mark, Wozniacki crashes

Djokovic equals Lendl mark, Wozniacki crashes

Novak Djokovic equalled Ivan Lendl's 1986 record of a 29-0 winning start to a season on Thursday when he reached the Madrid Masters quarter-finals. The Serb second seed cruised to a 6-1, 6-2 thrashing of Spaniard Guillermo Garcia-Lopez which took less tha
Published 06 May, 2011 12:00am
United set up Barcelona final

United set up Barcelona final

Manchester United will face Barcelona in a mouth-watering Champions League final later this month after they fielded a second-string side and still handed Schalke 04 a 4-1 thrashing on Wednesday. United reached their third European Cup final in four seaso
Published 06 May, 2011 12:00am
Poland shuts two stadiums in hooligan crackdown

Poland shuts two stadiums in hooligan crackdown

Polish authorities have ordered Cup finalists Legia Warsaw and Lech Poznan to play their next games behind closed doors in a crackdown against hooligans in the Euro 2012 co-host nation. Provincial officials in Warsaw and Poznan, after recommendations from
Published 06 May, 2011 12:00am
Mohsin tries to blackmail PCB: Sarfraz Nawaz

Mohsin tries to blackmail PCB: Sarfraz Nawaz

By threatening to resign and calling a press briefing, then cancelling it and finally went to Lahore to resolve the issue with Chairman Pakistan Cricket Board (PCB) Ijaz Butt - all these proves that chief selector Mohsin Hasan Khan did it only to blackmai
Published 06 May, 2011 12:00am
PCB Chief, Chief Selector resolve issues

PCB Chief, Chief Selector resolve issues

Pakistan Cricket Board on Thursday announced that it has no unresolved issues with the chief selector, Mohsin Khan who has threatened to step down under protest over undue interference in the selection of Pakistan Test team touring West Indies. PCB Chairm
Published 06 May, 2011 12:00am
Birmingham raise $6.3 million

Birmingham raise $6.3 million

Debt-ridden English Premier League club Birmingham City have raised $6.3 million through a new share issue in Hong Kong. A total of 6.43 percent of Birmingham International Holdings - the club's parent company - was sold, raising HK$49 million ($6.3 milli
Published 06 May, 2011 12:00am
Pakistan slump despite Hafeez fifty

Pakistan slump despite Hafeez fifty

Another fluent half-century from Mohammad Hafeez failed to inspire Pakistan and their batting crumbled for the first time in the series against West Indies in the fifth one-day international on Thursday. Hafeez struck six boundaries to lead the way with 5
Published 06 May, 2011 12:00am
England choose three-pronged captaincy approach

England choose three-pronged captaincy approach

England, taking the view that there should always be plenty of room at the top, announced on Thursday that no less than three skippers would be taking the team forward in cricket's various formats. Particularly surprising was the promotion of opening bats
Published 06 May, 2011 12:00am
Swiss franc up

Swiss franc up

The Swiss franc rose against a broadly weaker dollar on Thursday but held off record highs hit in the previous session as investors took stock ahead of a European Central Bank policy meeting later in the day. Against the dollar the franc rose 0.4 percent
Published 06 May, 2011 12:00am
Money markets: ECB hike seen in July, long-term view steady

Money markets: ECB hike seen in July, long-term view steady

Investors pushed back their expectations for the next ECB interest rate rise to July from June on Thursday after the bank's president signalled a rate hike next month was unlikely. While the longer-term view of the rate outlook was little changed, overnig
Published 06 May, 2011 12:00am
Ringgit, peso ease

Ringgit, peso ease

The Malaysian ringgit and the Philippine peso eased on Thursday ahead of rate decisions by their central banks later in the day and as most of its peers continue to suffer from profit-taking along with commodities and dollar-short covering.
Published 06 May, 2011 12:00am
Indian rupee tumbles

Indian rupee tumbles

The Indian rupee slid to a five-week low on Thursday, driven by negative local shares, a pullback in the euro and weakness in most Asian currencies. The partially convertible rupee ended at 44.76/77 per dollar, a level not seen since March 30 and 0.7 perc
Published 06 May, 2011 12:00am
Australian falls, New Zealand dollar up

Australian falls, New Zealand dollar up

The Australian dollar, already shaken by a correction in some commodity prices, fell to fresh one-week lows versus the greenback on Thursday as surprisingly weak retail sales data prompted investors to trim chances of an interest rate hike. But having she
Published 06 May, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 73.10/73.15 (previous 73.03/73.10). Call Money Rates: 5.00-7.25 percent (previous 5.00-7.25 percent).
Published 06 May, 2011 12:00am
Dollar tumbles to three-year low in New York

Dollar tumbles to three-year low in New York

The dollar slumped to a three-year low against major currencies on Wednesday and its outlook darkened further as surprisingly soft economic data underpinned expectations that US interest rates will remain low this year. The greenback also fell to a record
Published 06 May, 2011 12:00am
Early afternoon trade in New York: Euro slides across the board

Early afternoon trade in New York: Euro slides across the board

The euro plunged across the board on Thursday, on track for its worst day against the dollar since November, after comments from the head of the European Central Bank suggested interest rates were unlikely to rise next month. After falling as low as $1.45
Published 06 May, 2011 12:00am
Euro steadies in London

Euro steadies in London

The euro stayed steady versus the dollar on Thursday with markets on alert for signs the European Central Bank would raise interest rates again in June. The euro showed little reaction after ECB's left interest rates on hold as expected, but the single cu
Published 06 May, 2011 12:00am
Euro hovers near 17-month high in Asia

Euro hovers near 17-month high in Asia

The euro hovered near a 17-month high against a struggling dollar on Thursday as investors looked for the European Central Bank to reinforce expectations of higher rates after its policy meeting later in the day. Markets are waiting to see if the ECB chie
Published 06 May, 2011 12:00am
Sterling recovers

Sterling recovers

Sterling rebounded from a 13-month low against the euro on Thursday after the European Central Bank signalled it may not raise interest rates again as early as next month. ECB President Jean-Claude Trichet offered a much less hawkish tone on the central b
Published 06 May, 2011 12:00am
Yuan slightly lower

Yuan slightly lower

The yuan closed a tad lower versus the dollar on Thursday as the People's Bank of China fixed its mid-point marginally weaker for the third straight day, giving the currency a pause after a slew of record highs. Traders said the central bank may be prepar
Published 06 May, 2011 12:00am
FTSE down

FTSE down

Sliding commodity prices thumped energy stocks and miners while Lloyds Banking Group led financials down, pulling Britain's top share index lower on Thursday, with technicals pointing to further weakness. Bearish investors came to the fore as heavyweight
Published 06 May, 2011 12:00am
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