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Archive - 2011-05-08
Singapore ruling party retains power
Top News

Singapore ruling party retains power

SINGAPORE:  Singapore's ruling party swept back to power as expected in the most contested general election since indepe
Published 08 May, 2011 09:12am
Commodities suffer dramatic plunge

Commodities suffer dramatic plunge

Most commodities slumped this week, as traders fretted over downbeat economic data and fears of weak energy demand in the United States and elsewhere, analysts said. "Commodities in general suffered a significant setback... as concerns over economic growt
Published 08 May, 2011 12:00am
CRB index posts biggest weekly fall since 2008

CRB index posts biggest weekly fall since 2008

Commodities ended lower on Friday, retreating after a brief rebound from the previous session's plunge, and analysts said more market turbulence was in store after the steepest weekly decline since 2008. US crude oil bounced up early, but ultimately fell
Published 08 May, 2011 12:00am
US winter wheat may fall to five-year low on drought

US winter wheat may fall to five-year low on drought

A severe drought has slashed the US winter wheat crop to the smallest in five years, a Reuters Poll showed, but bread lovers will be spared the pinch in their wallets as the shortfall has been factored into wheat futures. The crop in parts of the southern
Published 08 May, 2011 12:00am
Silver could top precious pack in 2011

Silver could top precious pack in 2011

Platinum is drawing investment as a financial asset and palladium boasts an enviable market balance but silver could top the precious pack this year as its latest fall offers a chance to buy, GFMS's Philip Klapwijk said. The managing director of the metal
Published 08 May, 2011 12:00am
Asian physical rubber underpressure

Asian physical rubber underpressure

A few cargoes of tyre grade rubber changed hands for nearby shipments, but the physical market was under pressure from a lack of demand from main consumer China despite falling inventories there, dealers said on Wednesday. Rubber inventories monitored by
Published 08 May, 2011 12:00am
Asian rice prices steady

Asian rice prices steady

Asian rice prices remained at relatively high levels this week, with Vietnamese prices still supported by loading demand and Thai prices helped by the prospect of government intervention ahead of an upcoming election, exporters said.
Published 08 May, 2011 12:00am
US soyabeans up

US soyabeans up

US soybean slightly higher on Friday, bolstered by short-covering to end up 0,61 percent on the day, but down 4.7 percent for the week, traders said. Prices spent the day vacillating on either side of unchanged following outside markets. The US dollar was
Published 08 May, 2011 12:00am
US silver snaps losing streak, gold up

US silver snaps losing streak, gold up

Silver rose 2 percent on Friday, snapping a five-day losing streak that cut prices by almost a third, while gold rose after encouraging US jobs data triggered a broad bounce in beaten-down commodities. Silver, hit by a succession of margin hikes that near
Published 08 May, 2011 12:00am
Copper surrenders gains

Copper surrenders gains

Benchmark copper futures eked out a modest gain on Friday, after upbeat US employment data helped calm commodity markets spooked into free fall on Thursday by fears of slowing growth in the world's No 1 economy. But gains were reversed in after-hours trad
Published 08 May, 2011 12:00am
Singapore ruling party wins

Singapore ruling party wins

Singapore's ruling People's Action Party (PAP) was returned to power on Sunday with a huge majority but lost a key district to the opposition, costing a senior cabinet minister his job. Prime Minister Lee Hsien Loong thanked voters for their support as un
Published 08 May, 2011 12:00am
Osama bin Laden a serious student: Taiwan judo coach

Osama bin Laden a serious student: Taiwan judo coach

Osama bin Laden stood out not just because of his height but because of his serious, conservative demeanour, according to a Taiwan man who says the al Qaeda leader, killed by US troops on Monday, was a student in his judo classes in Saudi Arabia.
Published 08 May, 2011 12:00am
India launches Tagore 150th anniversary events

India launches Tagore 150th anniversary events

India kicked off celebrations on Saturday to mark the 150th anniversary of the birth of iconic poet and playwright Rabindranath Tagore, the first Asian to win the Nobel Prize for literature. Prime Minister Manmohan Singh launched the festivities for the p
Published 08 May, 2011 12:00am
UK politicians pledge coalition will last

UK politicians pledge coalition will last

British politicians pledged Saturday that the country's year-old coalition government would remain intact, after the Liberal Democrats' bruising defeat in local elections and electoral reform embarrassment brought divisions between the party and Prime Min
Published 08 May, 2011 12:00am
Britain decisively rejects voting change: final results

Britain decisively rejects voting change: final results

Britons have voted by a majority of 67.9 percent to 32.1 percent against making historic changes to the electoral system, final results from a referendum showed on Saturday. With all the results in from Thursday's referendum, there were 13,013,123 votes a
Published 08 May, 2011 12:00am
17 killed in Indonesian landslide

17 killed in Indonesian landslide

A landslide and flash floods triggered by heavy rain killed 17 people and inundated four villages on Indonesia's Java island, a disaster management agency spokesman said Saturday. The incident happened late Friday in Garut district, West Java province, af
Published 08 May, 2011 12:00am
China, Central Asian countries hold anti-terror drill

China, Central Asian countries hold anti-terror drill

China, Kyrgyzstan and Tajikistan conducted a joint anti-terror drill in the restive western region Xinjiang, where anger against Beijing has led to attacks on police, state media reported Saturday. The one-day exercise on Friday was aimed at better co-ord
Published 08 May, 2011 12:00am
US rocket blasts off with missile-warning satellite

US rocket blasts off with missile-warning satellite

An unmanned Atlas 5 rocket blasted off from Cape Canaveral Air Force Station on Saturday to put the first satellite of the US Defence Department's new missile-warning system into orbit. After a day's delay due to poor weather, the United Launch Alliance A
Published 08 May, 2011 12:00am
Mittal's fortune falls but still Britain's biggest

Mittal's fortune falls but still Britain's biggest

Indian-born steel tycoon Lakshmi Mittal has seen his fortune fall by some £5 billion ($8 billion, 5.7 billion euros) in the past year but remains the wealthiest person in Britain, it was revealed Saturday. The fortune of the London-based head of ArcelorMi
Published 08 May, 2011 12:00am
Hamas breaks up Salafist bin Laden rally in Gaza

Hamas breaks up Salafist bin Laden rally in Gaza

Gaza's Islamist rulers Hamas on Saturday broke up a Salafist protest against the killing of al Qaeda leader Osama bin Laden in a US raid in Pakistan this week. Dozens of Salafists - conservative Islamists who have clashed with Hamas - gathered in Gaza Cit
Published 08 May, 2011 12:00am
Qadhafi troops step up assault on rebels

Qadhafi troops step up assault on rebels

Maummar Qadhafi's troops unleashed a salvo of Grad rockets on towns in Libya's western mountains Saturday, killing at least nine rebels as they pressed the insurgents on several fronts, rebels said. Forces loyal to the Libyan strongman shelled fuel depots
Published 08 May, 2011 12:00am
Saudi Arabia stops Libyan rebel FM from using airspace

Saudi Arabia stops Libyan rebel FM from using airspace

The acting foreign minister of Libya's rebel government cancelled a trip to Qatar on Saturday after Saudi Arabia refused to allow his plane to use its airspace, Cairo airport officials said. The officials said Ali al-Isawi's plane stopped in Cairo to refu
Published 08 May, 2011 12:00am
Thousands rally in Japan against nuclear power

Thousands rally in Japan against nuclear power

Thousands of people rallied in Japan Saturday to demand a shift away from nuclear power after an earthquake and tsunami sparked the world's worst atomic crisis since Chernobyl a quarter-century ago. Braving spring drizzle, thousands of demonstrators gathe
Published 08 May, 2011 12:00am
Belarus expels Russian trials observers

Belarus expels Russian trials observers

Three Russian human rights observers attending the trials in Belarus of opposition activists have been expelled from the country, their organisation said on Saturday. The Committee on International Control over the Human Rights Situation in Belarus said i
Published 08 May, 2011 12:00am
Six dead in attack on Iraq foreign exchange shops

Six dead in attack on Iraq foreign exchange shops

Gunmen attacked two foreign exchange shops in the central Iraqi city of Baquba Saturday, killing six people and stealing money before setting off a car bomb when police arrived, officials said. The attack occurred at around 12:40 pm (0940 GMT) in the cent
Published 08 May, 2011 12:00am
QPR confirmed as champions, escape points penalty

QPR confirmed as champions, escape points penalty

QPR were confirmed as Championship title-winners on Saturday after the Football Association announced they would not be deducted points following a hearing into their signing of Alejandro Faurlin in 2009. QPR, who clinched the title last weekend, were fou
Published 08 May, 2011 12:00am
Lee, Abdulla star in Kolkata victory

Lee, Abdulla star in Kolkata victory

Brett Lee conceded just eight runs in four overs as Kolkata Knight Riders beat Chennai Super Kings by 10 runs on the Duckworth-Lewis method in a rain-hit Indian Premier League match on Saturday. Kolkata were 61-2 in 10 overs chasing a modest 115-run targe
Published 08 May, 2011 12:00am
English Premier League: Osman pegs back City's Champions League push

English Premier League: Osman pegs back City's Champions League push

Leon Osman continued Everton's jinx over Manchester City as his second-half winner sealed a 2-1 comeback victory that dented the visitors' push for a Champions League place. Everton completed the double over their mega-rich opponents, and made it seven wi
Published 08 May, 2011 12:00am
Rayudu, Patel shape Mumbai victory

Rayudu, Patel shape Mumbai victory

Ambati Rayudu cracked a half-century and Munaf Patel took two quick wickets to help Mumbai Indians post a 32-run win over Delhi Daredevils in an Indian Premier League match on Saturday. Rayudu made a 39-ball 59 and seamer Patel finished with 2-29 as Mumba
Published 08 May, 2011 12:00am
Pakistan set for West Indies warm-up against Guyana

Pakistan set for West Indies warm-up against Guyana

Pakistan continue their sojourn through the Caribbean with a two-day match against host nation Guyana, starting on Sunday at the Bourda Oval. The Pakistanis will look to transition from the limited-overs mode of the game, as they prepare to face West Indi
Published 08 May, 2011 12:00am
Governing body in talks for hockey league in India

Governing body in talks for hockey league in India

Hockey's world governing body has revealed it is negotiating with sponsors to start a high profile league in India. "A total of four different groups have approached us for a hockey league and we are assessing them all. In fact we are discussing the finan
Published 08 May, 2011 12:00am
Chanderpaul named in Test squad

Chanderpaul named in Test squad

Reports of Shivnarine Chanderpaul's demise appear to have been exaggerated after he was named Saturday in a 15-strong West Indies squad to prepare for first Test against Pakistan. The durable left-handed batsman has been engaged in a war of words with the
Published 08 May, 2011 12:00am
Emotional Nadal beats Federer to reach Madrid final

Emotional Nadal beats Federer to reach Madrid final

Rafael Nadal overcame Roger Federer 5-7, 6-1, 6-3 to reach the Madrid Masters final on Saturday on an emotional day that had started with a tearful tribute to Seve Ballesteros. World number one Nadal stood side-by-side with old rival Federer in a minute's
Published 08 May, 2011 12:00am
Spanish golf legend Ballesteros dies

Spanish golf legend Ballesteros dies

Spanish golf legend Severiano Ballesteros, one of golf's all-time greats who lifted five majors and turned a new generation on to the sport, died Saturday aged 54. "Seve Ballesteros died at 2:10 am, surrounded by his family, in his home in Pedrena" in nor
Published 08 May, 2011 12:00am
Azaranka ends Goerges run to make Madrid final

Azaranka ends Goerges run to make Madrid final

World number five Victoria Azarenka ended Julia Goerges's fine run on clay to claim a place in the final of the Madrid Open when she swept past the unseeded German 6-4 6-2 on Saturday. With torrential rain beating down on the Spanish capital and the slidi
Published 08 May, 2011 12:00am
Euro posts worst week since January; prospects dim

Euro posts worst week since January; prospects dim

The euro on Friday headed for its worst week against the dollar since January and further losses were seen as likely, as sovereign debt concerns reappeared after a German news report, later denied, suggested Greece had raised the possibility of leaving th
Published 08 May, 2011 12:00am
African currency outlook

African currency outlook

The Nigerian naira is expected to strengthen in the coming week as oil companies sell dollars, while the Tanzanian shilling is expected to ease due to corporate demand, traders said.
Published 08 May, 2011 12:00am
Speculators increase bets against US dollar

Speculators increase bets against US dollar

Currency speculators boosted bets against the US dollar to the highest in two months in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $35.01 billio
Published 08 May, 2011 12:00am
Canadian dollar pares gain

Canadian dollar pares gain

Canada's dollar edged higher against the US currency on Friday, but lost most of its big early gains as it tracked a sliding euro. The euro tumbled against the greenback after a report, later denied, that suggested Greece was considering leaving the euro
Published 08 May, 2011 12:00am
Euribor rates drop after ECB douses June hike talk

Euribor rates drop after ECB douses June hike talk

Key euro-priced bank-to-bank lending rates fell for the first time since early March on Friday after the ECB signalled a June rate hike was unlikely and delivered a more moderate message on inflation.
Published 08 May, 2011 12:00am
Jobs report helps Wall Street salvage sour week

Jobs report helps Wall Street salvage sour week

An unexpectedly strong report on US payrolls helped equities bounce back on Friday from four days of losses, tempering worries that stocks could suffer the sharp declines seen this week in commodities. Stocks held strong gains for most of the session but
Published 08 May, 2011 12:00am
India's Power Finance share sale to raise up to $1 billion

India's Power Finance share sale to raise up to $1 billion

India's state-run Power Finance Corporation Ltd will raise up to $1 billion in its next week's share sale, in what could be the biggest equity offering in the country's this year amid volatile market conditions. Power Finance, a lender to power projects,
Published 08 May, 2011 12:00am
US bond rises

US bond rises

Most US Treasuries prices gained slightly on Friday after a report that Greece may quit the eurozone left investors scrambling to cover bets taken earlier in the day that bonds would weaken into next week. Greece's deputy Finance Minister Filippos Sachini
Published 08 May, 2011 12:00am
US bond rises

US bond rises

Most US Treasuries prices gained slightly on Friday after a report that Greece may quit the eurozone left investors scrambling to cover bets taken earlier in the day that bonds would weaken into next week. Greece's deputy Finance Minister Filippos Sachini
Published 08 May, 2011 12:00am
Turkish shares down, banks lead decline

Turkish shares down, banks lead decline

Turkish shares fell on Friday, led by banks after Citigroup downgraded four Turkish banks and cut its price estimates, and Akbank's first quarter results disappointed. The Istanbul share index dropped to close 1.63 percent lower at 68,240.93 points, under
Published 08 May, 2011 12:00am
ADR Report: foreign share traded in US gains

ADR Report: foreign share traded in US gains

Overseas shares traded in the United States edged higher on Friday as gains stemming from a strong payrolls report were partly offset by a decline in European shares as the euro tumbled against the dollar. The euro posted its biggest weekly loss against t
Published 08 May, 2011 12:00am
Sri Lankan shares flat

Sri Lankan shares flat

Sri Lankan shares closed flat on Friday as gains in hotel shares were offset by losses in diversified shares in thin turnover, while the rupee closed weaker on importer demand for dollars. Sri Lanka's main share index edged up 0.03 percent or 1.98 points
Published 08 May, 2011 12:00am
IPO View: could Renren be vulnerable in a Chinese crackdown?

IPO View: could Renren be vulnerable in a Chinese crackdown?

Imagine buying shares in a company that could be closed down overnight. That is in some ways what Renren, dubbed the Facebook of China, asked investors to do. This week, investors complied: Renren raised $743.4 million in an initial public offering and it
Published 08 May, 2011 12:00am
TSX rallies as jobs data lifts sentiment

TSX rallies as jobs data lifts sentiment

Toronto's main stock index rebounded from a week-long retreat on Friday as strong employment numbers in both Canada and the United States lifted sentiment, easing some of the worries that sent commodity prices into a tailspin earlier this week. The domina
Published 08 May, 2011 12:00am
Latam stocks rise on US data, cooling inflation

Latam stocks rise on US data, cooling inflation

Latin American stocks jumped on Friday, helped by surprisingly strong US jobs data that eased fears about slowing global growth, as well as by cooler-than-expected inflation data in Brazil and Chile. The MSCI Latin American index rose 1.42 percent. The ga
Published 08 May, 2011 12:00am
Indian bond yields extend drop

Indian bond yields extend drop

Indian federal bond yields tumbled on Friday on bargain hunting and as a sharp fall in global oil prices marginally eased concerns over domestic inflationary pressures, but a likely hike in local fuel prices may prevent a further drop in yields. The 10-ye
Published 08 May, 2011 12:00am
Indian bond yields extend drop

Indian bond yields extend drop

Indian federal bond yields tumbled on Friday on bargain hunting and as a sharp fall in global oil prices marginally eased concerns over domestic inflationary pressures, but a likely hike in local fuel prices may prevent a further drop in yields. The 10-ye
Published 08 May, 2011 12:00am
UAE, Qatar MSCI upgrade face issues

UAE, Qatar MSCI upgrade face issues

Foreign ownership limits in Qatar and the UAE, may stand in the way of the Gulf states' gaining emerging market status from index compiler MSCI, an executive said on Wednesday. Manuel Rensink, regional head of MSCI, said he was "generally positive" on the
Published 08 May, 2011 12:00am
India to supply power to Bangladesh

India to supply power to Bangladesh

India said Saturday it would start to supply some 250 megawatts of power to neighbouring Bangladesh by 2013 as it moves to cement relations between the South Asian neighbours. The step is part of a drive by the two countries for closer ties. "Work on the
Published 08 May, 2011 12:00am
Power-cut hits Venezuela's largest refinery

Power-cut hits Venezuela's largest refinery

A power-cut paralysed a catalytic cracker and most other operations at Venezuela's 645,000 barrels-per-day Amuay refinery on Friday, a source at state oil company PDVSA and workers at the complex said. "We had a fault that affected some plants, including
Published 08 May, 2011 12:00am
Shell, Total sell stake in Nigerian oil field

Shell, Total sell stake in Nigerian oil field

Royal Dutch Shell, France's Total and Eni sold a 45 percent stake in a Nigerian oil block to a Polish-Nigerian consortium, Kulczyk Oil, a partner in the consortium, said late on Friday. The price paid by the consortium consisting of Kulczyk Oil and Nigeri
Published 08 May, 2011 12:00am
Sony removes data stolen by hackers

Sony removes data stolen by hackers

Sony said on Saturday it had removed off the Internet the personal details of 2,500 people that had been stolen by hackers and posted on a website. The data included names and some addresses, which were in a database created in 2001, a Sony spokeswoman sa
Published 08 May, 2011 12:00am
iShares Silver has $1 billion outflow, worst week ever

iShares Silver has $1 billion outflow, worst week ever

A record $1 billion outflow from the iShares Silver Trust in the week ended Wednesday helped feed silver's torrid price decline, just as the fund's earlier inflows aided the prior rally. Many more small investors can trade the iShares exchange-traded fund
Published 08 May, 2011 12:00am
Air India limps back to normal after costly strike

Air India limps back to normal after costly strike

Flag-carrier Air India's flight operations were gradually returning to normal Saturday after pilots ended a 10-day strike that cost the ailing airline millions of dollars in lost revenues. Close to 700 pilots working for the domestic service of state-run
Published 08 May, 2011 12:00am
Gulf states hope to achieve customs union in 2015

Gulf states hope to achieve customs union in 2015

Gulf Arab states aim to bring a long-awaited customs unification into effect in 2015 as they vie to remove hurdles that delayed the union launched eight years ago, an Emirati minister said on Saturday. "What we have agreed upon is that in the next three y
Published 08 May, 2011 12:00am
Regulators close Florida bank, 40th failure of 2011

Regulators close Florida bank, 40th failure of 2011

US regulators closed a small Florida bank on Friday, bringing the total in 2011 to 40, the Federal Deposit Insurance Corporation said. The Office of Thrift Supervision closed the Coastal Bank of Cocoa Beach, Florida, and appointed the FDIC as the receiver
Published 08 May, 2011 12:00am
Cambodia Prime Minister blasts Thailand at Asean summit

Cambodia Prime Minister blasts Thailand at Asean summit

Cambodia accused Thailand of invading its territory Saturday on the opening day of a summit of Southeast Asian leaders that was supposed to focus on plans to create a regional economic zone. Cambodian Prime Minister Hun Sen took aim at his Thai counterpar
Published 08 May, 2011 12:00am
BP opens Rosneft Arctic deal to TNK-BP

BP opens Rosneft Arctic deal to TNK-BP

BP has agreed to cede its share of an Arctic oil exploration pact with Rosneft to its half-owned affiliate TNK-BP in a compromise with Russian partners who have fought for a slice of the action. A parallel $16 billion share swap deal between the British o
Published 08 May, 2011 12:00am
Europe faces up to boomerang Greek debt chaos

Europe faces up to boomerang Greek debt chaos

Europe faced the spectre of Greek calls for new financial aid Saturday as Athens' "catastrophic" finances returned to haunt stressed eurozone states, despite efforts to prevent panic. Greek Prime Minister George Papandreou urged Saturday "everyone, inside
Published 08 May, 2011 12:00am
Volcker warns of danger from US deficits

Volcker warns of danger from US deficits

Former Federal Reserve Chairman Paul Volcker warned on Friday that trillion-dollar deficits posed a threat to the stability of the US economy and the dollar, and said he is frustrated by the gridlock in Washington. Speaking before the World Affairs Counci
Published 08 May, 2011 12:00am
Ipad buyers injured in Beijing store frenzy

Ipad buyers injured in Beijing store frenzy

Four people were hospitalised in China after a glass door at Apple's flagship store in Beijing smashed to pieces Saturday as scores rushed to buy the new iPad tablet, according to Chinese reports. Police were investigating the incident, which caused the s
Published 08 May, 2011 12:00am
Bangladesh's Yunus fears for microlender

Bangladesh's Yunus fears for microlender

Nobel laureate Muhammad Yunus said Saturday he feared for the survival of his pioneering microlender Grameen Bank, days after his removal as its chief was upheld by the country's highest court. The 2006 Nobel winner said the future of the Grameen Bank - t
Published 08 May, 2011 12:00am
Invesco plans bond-related ETFs for Europe market

Invesco plans bond-related ETFs for Europe market

Money manager Invesco is planning to add bond-related products to its exchange-traded funds (ETFs) offering in Europe, the company's European head of ETF development said. "This is something we are working on," Thibaud de Cherisey said at Inside ETFs Euro
Published 08 May, 2011 12:00am
Invesco plans bond-related ETFs for Europe market

Invesco plans bond-related ETFs for Europe market

Money manager Invesco is planning to add bond-related products to its exchange-traded funds (ETFs) offering in Europe, the company's European head of ETF development said. "This is something we are working on," Thibaud de Cherisey said at Inside ETFs Euro
Published 08 May, 2011 12:00am
Iberdrola, RWE held abortive merger talks

Iberdrola, RWE held abortive merger talks

Germany's RWE and Iberdrola came close to announcing a 60 billion-euro ($87 billion) combination in February but the Spanish utility pulled out of talks, sources familiar with the matter said. The talks between Europe's fifth- and sixth-largest utilities
Published 08 May, 2011 12:00am
Grams prices turn lower on grain market

Grams prices turn lower on grain market

Grams rates were lower on the wholesale grain market on Saturday in process of modest trading, grain and seed merchants group's press release said. On the grams side yellow peas Canada low type was down by Rs 50 to Rs 3600 while the best type shed Rs 25 t
Published 08 May, 2011 12:00am
US Midwest corn, soyabean bids weak at river

US Midwest corn, soyabean bids weak at river

Corn and soyabean spot basis bids eased at river terminals around the US Midwest on Friday as traffic on the waterways was halted due to high waters, while bids were steady to firm at interior points amid slow farmer sales of both crops, grain merchants s
Published 08 May, 2011 12:00am
Corn export premiums steady

Corn export premiums steady

Corn export premiums at the US Gulf Coast were near steady on Friday, capped by slow export demand, but the market had a firm tone as high water closed the Mississippi River, halting the flow of grain from the Midwest, traders said. A sharp drop in future
Published 08 May, 2011 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 72,756 tonnes of cargo including 40,862 tonnes of import cargo, 31,894 tonnes of export cargo and 4,621 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 40,862 tonnes compri
Published 08 May, 2011 12:00am
India hopes to double oilmeal exports to China in three years

India hopes to double oilmeal exports to China in three years

India hopes to double its annual 500,000 tonnes of oilmeal exports to China in the next three years, the chief of a leading Indian industry body said on Friday. India, a leading supplier of oilmeal in Asia, traditionally also exports to Vietnam, South Kor
Published 08 May, 2011 12:00am
US corn futures fall three percent

US corn futures fall three percent

US corn futures fell 3 percent on Friday after a surge in the dollar and a downturn in crude oil triggered additional long liquidation, adding to losses from Thursday during the biggest commodities sell-off since 2008. A pickup in the seeding pace of this
Published 08 May, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Friday after a Statistics Canada report showed tighter than expected supplies, traders said. Statscan reported March 31 stocks of 4.85 million tonnes, down 23 percent from a year ago. Short-covering may also support aft
Published 08 May, 2011 12:00am
Steadier price trend amid improved business seen on cotton market

Steadier price trend amid improved business seen on cotton market

Steadier trend was seen on the cotton market on Saturday following the news that the Securities and Exchange Commission of Pakistan (SECP) allowed future trade in cotton and the news that India would fix quota on cotton yarn export, dealers said. The Kara
Published 08 May, 2011 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The May vaida that had closed at Rs 1332.50 opened at the same level. The July contract which closed at Rs 1420.50 showed no variatio
Published 08 May, 2011 12:00am
Russian 2011 wheat area seen down, output up

Russian 2011 wheat area seen down, output up

SovEcon sees the area to be sown with wheat for the 2011 harvest at 25.9-26.4 million hectares, down from 26.6 million in 2010, which may raise the crop to 48.5-50.8 million tonnes from 41.5 million if there is no drought. The decline in the acreage is a
Published 08 May, 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 08 May, 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 08 May, 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 Saturday (May 07, 2011).

Published 08 May, 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 Saturday (May 07, 2011).

Published 08 May, 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 Saturday (May 07, 2011).

Published 08 May, 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 Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (May 07, 2011).
Published 08 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
THE RUPEE: dollar above 85

THE RUPEE: dollar above 85

The dollar extended its rise versus the rupee on the currency market on Saturday following strong buying by the importers, dealers said. Market-men said that the all major banks bought approximately 50-70 million dollars to meet the importers' demand to c
Published 08 May, 2011 12:00am
THE RUPEE: dollar above 85

THE RUPEE: dollar above 85

The dollar extended its rise versus the rupee on the currency market on Saturday following strong buying by the importers, dealers said. Market-men said that the all major banks bought approximately 50-70 million dollars to meet the importers' demand to c
Published 08 May, 2011 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Obama pivots from bin Laden's death to US economy

Obama pivots from bin Laden's death to US economy

President Barack Obama turned on Saturday from national elation over the killing of America's most wanted foe to face the threat that high gasoline prices and unemployment pose to his own 2012 re-election hopes. "Although our economy hasn't been the focus
Published 08 May, 2011 12:00am
Obama pivots from bin Laden's death to US economy

Obama pivots from bin Laden's death to US economy

President Barack Obama turned on Saturday from national elation over the killing of America's most wanted foe to face the threat that high gasoline prices and unemployment pose to his own 2012 re-election hopes. "Although our economy hasn't been the focus
Published 08 May, 2011 12:00am
Obama pivots from bin Laden''s death to US economy

Obama pivots from bin Laden''s death to US economy

President Barack Obama turned on Saturday from national elation over the killing of America''s most wanted foe to face the threat that high gasoline prices and unemployment pose to his own 2012 re-election hopes. "Although our economy hasn''t been the foc
Published 08 May, 2011 12:00am
Muslim leaders say they were taken off US flight

Muslim leaders say they were taken off US flight

Two Muslim religious leaders say they were asked to leave a commercial airliner in Memphis on Friday and were told it was because the pilot refused to fly with them aboard. Masudur Rahman, who is also an adjunct instructor of Arabic at the University of M
Published 08 May, 2011 12:00am
Muslim leaders say they were taken off US flight

Muslim leaders say they were taken off US flight

Two Muslim religious leaders say they were asked to leave a commercial airliner in Memphis on Friday and were told it was because the pilot refused to fly with them aboard. Masudur Rahman, who is also an adjunct instructor of Arabic at the University of M
Published 08 May, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Import of urea approved by ECC: quantity not decided yet

Import of urea approved by ECC: quantity not decided yet

The Economic Co-ordination Committee (ECC) of Cabinet on Saturday approved import of urea for Kharif 2011 and allowed procurement of 0.4 million tons from sugar mills. The ECC meeting chaired by Finance Minister Dr Abdul Hafeez Sheikh gave approval of ure
Published 08 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 07, 2011).

Published 08 May, 2011 12:00am
Import of urea approved by ECC: quantity not decided yet

Import of urea approved by ECC: quantity not decided yet

The Economic Co-ordination Committee (ECC) of Cabinet on Saturday approved import of urea for Kharif 2011 and allowed procurement of 0.4 million tons from sugar mills. The ECC meeting chaired by Finance Minister Dr Abdul Hafeez Sheikh gave approval of ure
Published 08 May, 2011 12:00am
The Weather

The Weather

The weather report on Saturday (May 07, 2011) and the forecast for Sunday (May 08, 2011).

Published 08 May, 2011 12:00am
Import of urea approved by ECC: quantity not decided yet

Import of urea approved by ECC: quantity not decided yet

The Economic Co-ordination Committee (ECC) of Cabinet on Saturday approved import of urea for Kharif 2011 and allowed procurement of 0.4 million tons from sugar mills. The ECC meeting chaired by Finance Minister Dr Abdul Hafeez Sheikh gave approval of ure
Published 08 May, 2011 12:00am
Zardari arrives in Kuwait on two-day visit

Zardari arrives in Kuwait on two-day visit

President Asif Ali Zardari was accorded a red-carpet welcome, as he arrived here on Saturday evening on a two-day official visit to hold talks with the Kuwaiti leadership for further bolstering the already existing multi-faceted ties between the two broth
Published 08 May, 2011 12:00am
Zardari arrives in Kuwait on two-day visit

Zardari arrives in Kuwait on two-day visit

President Asif Ali Zardari was accorded a red-carpet welcome, as he arrived here on Saturday evening on a two-day official visit to hold talks with the Kuwaiti leadership for further bolstering the already existing multi-faceted ties between the two broth
Published 08 May, 2011 12:00am
ST, corporate income: EAC panel recommends reduction in tax rates

ST, corporate income: EAC panel recommends reduction in tax rates

The working group on taxation of the Economic Advisory Council (EAC) has strongly recommended reduction in the existing rate of 17 percent sales tax and 35 percent corporate income tax in the budget (2011-12). Sources told Business Recorder here on
Published 08 May, 2011 12:00am
ST, corporate income: EAC panel recommends reduction in tax rates

ST, corporate income: EAC panel recommends reduction in tax rates

The working group on taxation of the Economic Advisory Council (EAC) has strongly recommended reduction in the existing rate of 17 percent sales tax and 35 percent corporate income tax in the budget (2011-12). Sources told Business Recorder here on
Published 08 May, 2011 12:00am
ST, corporate income: EAC panel recommends reduction in tax rates

ST, corporate income: EAC panel recommends reduction in tax rates

The working group on taxation of the Economic Advisory Council (EAC) has strongly recommended reduction in the existing rate of 17 percent sales tax and 35 percent corporate income tax in the budget (2011-12). Sources told Business Recorder here on
Published 08 May, 2011 12:00am
Textile, clothing exports face competitive threat

Textile, clothing exports face competitive threat

Pakistan's one-third of textile and clothing exports are facing a competitive threat in the post-quota era. According to a study conducted by Pakistan Institute of PITAD, an attached department of Commerce Ministry, Pakistan has lost its market share to C
Published 08 May, 2011 12:00am
Textile, clothing exports face competitive threat

Textile, clothing exports face competitive threat

Pakistan's one-third of textile and clothing exports are facing a competitive threat in the post-quota era. According to a study conducted by Pakistan Institute of PITAD, an attached department of Commerce Ministry, Pakistan has lost its market share to C
Published 08 May, 2011 12:00am
Textile, clothing exports face competitive threat

Textile, clothing exports face competitive threat

Pakistan''s one-third of textile and clothing exports are facing a competitive threat in the post-quota era. According to a study conducted by Pakistan Institute of PITAD, an attached department of Commerce Ministry, Pakistan has lost its market share to
Published 08 May, 2011 12:00am
US releases seized bin Laden videos

US releases seized bin Laden videos

The United States has made public several videos seized during the Osama bin Laden raid, part of what US officials described Saturday as the largest terrorism data collection ever. A senior intelligence official also told reporters at the Pentagon that bi
Published 08 May, 2011 12:00am
US releases seized bin Laden videos

US releases seized bin Laden videos

The United States has made public several videos seized during the Osama bin Laden raid, part of what US officials described Saturday as the largest terrorism data collection ever. A senior intelligence official also told reporters at the Pentagon that bi
Published 08 May, 2011 12:00am
Two dead as Taliban hit government buildings in Kandahar

Two dead as Taliban hit government buildings in Kandahar

The Taliban unleashed a co-ordinated wave of attacks on government targets in the key southern Afghan city of Kandahar Saturday, killing at least two people and wounding 29. President Hamid Karzai charged that the violence was "revenge" for this week's ki
Published 08 May, 2011 12:00am
Two dead as Taliban hit government buildings in Kandahar

Two dead as Taliban hit government buildings in Kandahar

The Taliban unleashed a co-ordinated wave of attacks on government targets in the key southern Afghan city of Kandahar Saturday, killing at least two people and wounding 29. President Hamid Karzai charged that the violence was "revenge" for this week's ki
Published 08 May, 2011 12:00am
'Thorough probe' promised

'Thorough probe' promised

Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Saturday that the government would initiate a thorough probe into US operation in Abbottabad that led to killing of Osama bin Laden and also release its detailed report.
Published 08 May, 2011 12:00am
'Thorough probe' promised

'Thorough probe' promised

Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Saturday that the government would initiate a thorough probe into US operation in Abbottabad that led to killing of Osama bin Laden and also release its detailed report.
Published 08 May, 2011 12:00am
No impact on US assistance, says Hafeez

No impact on US assistance, says Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Saturday dismissed the impression that brewing stain in relations between Pakistan and US over intrusion of helicopters that killed Osama bin Laden at Abbottabad may have a negative impact on assistance. The Mini
Published 08 May, 2011 12:00am
No impact on US assistance, says Hafeez

No impact on US assistance, says Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Saturday dismissed the impression that brewing stain in relations between Pakistan and US over intrusion of helicopters that killed Osama bin Laden at Abbottabad may have a negative impact on assistance. The Mini
Published 08 May, 2011 12:00am
No impact on US assistance, says Hafeez

No impact on US assistance, says Hafeez

Finance Minister Dr Abdul Hafeez Sheikh on Saturday dismissed the impression that brewing stain in relations between Pakistan and US over intrusion of helicopters that killed Osama bin Laden at Abbottabad may have a negative impact on assistance. The Mini
Published 08 May, 2011 12:00am
Uch Power Project gains financial closing

Uch Power Project gains financial closing

Uch Power Project-II of 375 MW (gross 404 MW) which will attract $500 million foreign investment has achieved financial closing one month later than the timeline agreed with the government. The combined cycle gas turbine project will be established near D
Published 08 May, 2011 12:00am
Uch Power Project gains financial closing

Uch Power Project gains financial closing

Uch Power Project-II of 375 MW (gross 404 MW) which will attract $500 million foreign investment has achieved financial closing one month later than the timeline agreed with the government. The combined cycle gas turbine project will be established near D
Published 08 May, 2011 12:00am
Uch Power Project gains financial closing

Uch Power Project gains financial closing

Uch Power Project-II of 375 MW (gross 404 MW) which will attract $500 million foreign investment has achieved financial closing one month later than the timeline agreed with the government. The combined cycle gas turbine project will be established near D
Published 08 May, 2011 12:00am
Solar, wind energy items exempted from ST, FED

Solar, wind energy items exempted from ST, FED

The Federal Board of Revenue (FBR) has exempted sales tax and federal excise duty (FED) on import and local supply of items including solar PV panels with dedicated use of renewable sources of energy like solar and wind, etc. The FBR has amended SRO 655(I
Published 08 May, 2011 12:00am
Solar, wind energy items exempted from ST, FED

Solar, wind energy items exempted from ST, FED

The Federal Board of Revenue (FBR) has exempted sales tax and federal excise duty (FED) on import and local supply of items including solar PV panels with dedicated use of renewable sources of energy like solar and wind, etc. The FBR has amended SRO 655(I
Published 08 May, 2011 12:00am
Solar, wind energy items exempted from ST, FED

Solar, wind energy items exempted from ST, FED

The Federal Board of Revenue (FBR) has exempted sales tax and federal excise duty (FED) on import and local supply of items including solar PV panels with dedicated use of renewable sources of energy like solar and wind, etc. The FBR has amended SRO 655(I
Published 08 May, 2011 12:00am
Nephew of Sadat killer returns to Egypt from Iran

Nephew of Sadat killer returns to Egypt from Iran

Officials at Cairo's airport say the son of a wanted Islamist and nephew of the killer of President Anwar Sadat has returned to Egypt for the first time in two decades. The officials said Saturday that Khaled el-Islambouli returned with his wife, two chil
Published 08 May, 2011 12:00am
China-funded dam opens in Republic of Congo

China-funded dam opens in Republic of Congo

Authorities in the Republic of Congo launched the country's largest dam on Saturday, mainly funded by China, an AFP journalist said. The dam, which has a 120-megawatt capacity, was unveiled in Imboulou, about 260 kilometres (160 miles) north of capital Br
Published 08 May, 2011 12:00am
Two killed in small plane crash in Texas

Two killed in small plane crash in Texas

Officials in Texas say two people _ a man and a woman _ died Saturday when a small plane crashed shortly after takeoff from an airport north of Houston. Trooper Erick Burse of the Texas Department of Public Safety says the two are thought to be a father a
Published 08 May, 2011 12:00am
Saudi King, Rehman discuss ways to strengthen bilateral ties

Saudi King, Rehman discuss ways to strengthen bilateral ties

Federal Minister for Interior Rehman Malik called on Saudi King Abdullah bin Abdul Aziz here on Saturday and discussed ways to strengthen the existing fraternal relations between the two countries. The Interior Minister presented message of President Asif
Published 08 May, 2011 12:00am
Saudi King, Rehman discuss ways to strengthen bilateral ties

Saudi King, Rehman discuss ways to strengthen bilateral ties

Federal Minister for Interior Rehman Malik called on Saudi King Abdullah bin Abdul Aziz here on Saturday and discussed ways to strengthen the existing fraternal relations between the two countries. The Interior Minister presented message of President Asif
Published 08 May, 2011 12:00am
Shutter-down strike observed in Quetta

Shutter-down strike observed in Quetta

A shutter down strike was observed in Provincial capital on Saturday against killing of innocent people in terrorist act here on Friday. According to details a shutter down strike was observed here on the call of Hazara Democratic Party and Pashtoonkhwa M
Published 08 May, 2011 12:00am
Shutter-down strike observed in Quetta

Shutter-down strike observed in Quetta

A shutter down strike was observed in Provincial capital on Saturday against killing of innocent people in terrorist act here on Friday. According to details a shutter down strike was observed here on the call of Hazara Democratic Party and Pashtoonkhwa M
Published 08 May, 2011 12:00am
Plane crash in Indonesia kills 27

Plane crash in Indonesia kills 27

An Indonesian plane carrying 27 passengers and crew crashed off the eastern province of West Papua Saturday, killing all aboard, officials and media reports said. The aircraft belonging to the state-run Merpati Airlines crashed into the sea near West Papu
Published 08 May, 2011 12:00am
Plane crash in Indonesia kills 27

Plane crash in Indonesia kills 27

An Indonesian plane carrying 27 passengers and crew crashed off the eastern province of West Papua Saturday, killing all aboard, officials and media reports said. The aircraft belonging to the state-run Merpati Airlines crashed into the sea near West Papu
Published 08 May, 2011 12:00am
Kardar to open 'Branchless Banking' conference on May 9

Kardar to open 'Branchless Banking' conference on May 9

Shahid H Kardar, Governor of State Bank of Pakistan, will inaugurate 'Branchless Banking: Government to Person Payments (G2P) Conference 2011' and launch 'Financial Innovation Challenge Fund' on Monday, May 9, 2011 at 9.00 am at SBP Learning Resource Cent
Published 08 May, 2011 12:00am
Kardar to open 'Branchless Banking' conference on May 9

Kardar to open 'Branchless Banking' conference on May 9

Shahid H Kardar, Governor of State Bank of Pakistan, will inaugurate 'Branchless Banking: Government to Person Payments (G2P) Conference 2011' and launch 'Financial Innovation Challenge Fund' on Monday, May 9, 2011 at 9.00 am at SBP Learning Resource Cent
Published 08 May, 2011 12:00am
Kardar to open ''Branchless Banking'' conference on May 9

Kardar to open ''Branchless Banking'' conference on May 9

Shahid H Kardar, Governor of State Bank of Pakistan, will inaugurate ''Branchless Banking: Government to Person Payments (G2P) Conference 2011'' and launch ''Financial Innovation Challenge Fund'' on Monday, May 9, 2011 at 9.00 am at SBP Learning Resource
Published 08 May, 2011 12:00am
Syria army attacks Banias, raising sectarian tension

Syria army attacks Banias, raising sectarian tension

Syrian tanks stormed the mostly Sunni Muslim city of Banias on Saturday, a rights campaigner said, raising sectarian tension in a country swept by protests against the rule of authoritarian President Bashar al-Assad. The attack came hours after the United
Published 08 May, 2011 12:00am
Syria army attacks Banias, raising sectarian tension

Syria army attacks Banias, raising sectarian tension

Syrian tanks stormed the mostly Sunni Muslim city of Banias on Saturday, a rights campaigner said, raising sectarian tension in a country swept by protests against the rule of authoritarian President Bashar al-Assad. The attack came hours after the United
Published 08 May, 2011 12:00am
Emaar to review strategy as markets change

Emaar to review strategy as markets change

Dubai's Emaar Properties, builder of the world's tallest tower, is creating a core management team to develop a new growth strategy, the developer said, following social and political upheaval in the region. Emaar the UAE's largest listed developer and ab
Published 08 May, 2011 12:00am
Emaar to review strategy as markets change

Emaar to review strategy as markets change

Dubai's Emaar Properties, builder of the world's tallest tower, is creating a core management team to develop a new growth strategy, the developer said, following social and political upheaval in the region. Emaar the UAE's largest listed developer and ab
Published 08 May, 2011 12:00am
Emaar to review strategy as markets change

Emaar to review strategy as markets change

Dubai''s Emaar Properties, builder of the world''s tallest tower, is creating a core management team to develop a new growth strategy, the developer said, following social and political upheaval in the region. Emaar the UAE''s largest listed developer and
Published 08 May, 2011 12:00am
Saudi Arabia establishes anti-corruption commission

Saudi Arabia establishes anti-corruption commission

The Saudi government has established a national commission to battle corruption with wide-ranging powers to hunt down offenders, the official Saudi Press Agency (SPA) reported on Saturday. The cabinet of ministers approved the Organisation of Anti-Corrupt
Published 08 May, 2011 12:00am
Saudi Arabia establishes anti-corruption commission

Saudi Arabia establishes anti-corruption commission

The Saudi government has established a national commission to battle corruption with wide-ranging powers to hunt down offenders, the official Saudi Press Agency (SPA) reported on Saturday. The cabinet of ministers approved the Organisation of Anti-Corrupt
Published 08 May, 2011 12:00am
Saudi Arabia establishes anti-corruption commission

Saudi Arabia establishes anti-corruption commission

The Saudi government has established a national commission to battle corruption with wide-ranging powers to hunt down offenders, the official Saudi Press Agency (SPA) reported on Saturday. The cabinet of ministers approved the Organisation of Anti-Corrupt
Published 08 May, 2011 12:00am
India plans road network near China

India plans road network near China

India plans to develop a network of strategic roads along its borders with China, a senior military official was quoted as saying in an Indian media report Saturday. The planned road network in India's remote north-east and the Ladakh region in Indian Kas
Published 08 May, 2011 12:00am
India plans road network near China

India plans road network near China

India plans to develop a network of strategic roads along its borders with China, a senior military official was quoted as saying in an Indian media report Saturday. The planned road network in India's remote north-east and the Ladakh region in Indian Kas
Published 08 May, 2011 12:00am
India plans road network near China

India plans road network near China

India plans to develop a network of strategic roads along its borders with China, a senior military official was quoted as saying in an Indian media report Saturday. The planned road network in India''s remote north-east and the Ladakh region in Indian Ka
Published 08 May, 2011 12:00am
130 spinning mills closed due to energy shortage

130 spinning mills closed due to energy shortage

Around 130 spinning mills have been closed in Punjab due to energy shortage. There are 12 million spindles installed across the country, out of which there are 8.5 million spindles in Punjab. Closing of 8.5 million spindles in Punjab means a closure of 36
Published 08 May, 2011 12:00am
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