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Archive - 2011-05-09
GM to invest $2bn in US plants
Industry

GM to invest $2bn in US plants

DETROIT: General Motors Co plans to invest $2 billion at plants in eight states, including at a plant in Toledo, Ohio,
Published 09 May, 2011 10:55pm
Quake shakes southern Philippines
Asia

Quake shakes southern Philippines

MANILA: A 5.8 magnitude earthquake struck off the southern Philippine island of Mindanao early Tuesday, seismologists sa
Published 09 May, 2011 08:34pm
European stocks drop
Financial

European stocks drop

LONDON: Europe's main stock markets ended down on Monday, with London's FTSE 100 index of leading shares sliding 0.57 pe
Published 09 May, 2011 04:32pm
DIBPL launches ‘cash manager account’
Top News

DIBPL launches ‘cash manager account’

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has launched the first ever ‘Cash Manager Account’ facility for cor
Published 09 May, 2011 03:32pm
KSE end up; rupee weakens
Markets

KSE end up; rupee weakens

KARACHI: Karachi Stock Exchange (KSE) rose on Monday as investors bought oil stocks after a rebound in international oil
Published 09 May, 2011 12:09pm
Cotton sowing increased by 164pc
Top News

Cotton sowing increased by 164pc

ISLAMABAD: The Sindh province has so far achieved 28 percent of proposed cotton cultivation targets while cotton sowing
Published 09 May, 2011 11:45am
Food dept procures 200,000 bags of wheat
Top News

Food dept procures 200,000 bags of wheat

SIALKOT: The district food department has so far procured two lakh bags of wheat in the district, said district food con
Published 09 May, 2011 10:38am
Exports cross $20bn mark in 10 months
Top News

Exports cross $20bn mark in 10 months

KARACHI: Country's exports for the first time have crossed the $ 20 billion mark in the first 10 months of the current f
Published 09 May, 2011 10:17am
Bulls waiting for trigger at KSE
BR Research

Bulls waiting for trigger at KSE

At the Karachi Stock Exchange, investors are increasingly finding it hard to make up their minds. After two weeks of gains, weakness crept b
Published 09 May, 2011 12:00am
Oil price uncertainty mounts
BR Research

Oil price uncertainty mounts

Osama and oil made all the headlines last week. Without having an apparent connection, both had one thing in common - they fell. Nobody ma
Published 09 May, 2011 12:00am
THE RUPEE: volatile trade

THE RUPEE: volatile trade

Volatility was witnessed on the money market during the week, ended on April 7, 2011 as the rupee moved both ways. On the inter-bank market, the rupee lost 52 paisa in relation to dollar for buying at 85.20 and 55 paisa for selling at 85.25 due to strong
Published 09 May, 2011 12:00am
THE RUPEE: volatile trade

THE RUPEE: volatile trade

Volatility was witnessed on the money market during the week, ended on April 7, 2011 as the rupee moved both ways. On the inter-bank market, the rupee lost 52 paisa in relation to dollar for buying at 85.20 and 55 paisa for selling at 85.25 due to strong
Published 09 May, 2011 12:00am
Investment and joint ventures: Pakistan, Kuwait set up special body

Investment and joint ventures: Pakistan, Kuwait set up special body

Pakistan and Kuwait on Sunday agreed to set up a high powered special committee, which will meet immediately to identify areas of investment and joint ventures in Pakistan by Kuwaiti entrepreneurs. It was agreed during the talks between President Asif Ali
Published 09 May, 2011 12:00am
Investment and joint ventures: Pakistan, Kuwait set up special body

Investment and joint ventures: Pakistan, Kuwait set up special body

Pakistan and Kuwait on Sunday agreed to set up a high powered special committee, which will meet immediately to identify areas of investment and joint ventures in Pakistan by Kuwaiti entrepreneurs. It was agreed during the talks between President Asif Ali
Published 09 May, 2011 12:00am
Investment and joint ventures: Pakistan, Kuwait set up special body

Investment and joint ventures: Pakistan, Kuwait set up special body

Pakistan and Kuwait on Sunday agreed to set up a high powered special committee, which will meet immediately to identify areas of investment and joint ventures in Pakistan by Kuwaiti entrepreneurs. It was agreed during the talks between President Asif Ali
Published 09 May, 2011 12:00am
Support sought to overcome energy crisis

Support sought to overcome energy crisis

President Asif Ali Zardari on Sunday urged the Kuwaiti financial and investment giants to help Pakistan overcome its energy shortages through financing and investments in major energy and infrastructure projects.
Published 09 May, 2011 12:00am
Support sought to overcome energy crisis

Support sought to overcome energy crisis

President Asif Ali Zardari on Sunday urged the Kuwaiti financial and investment giants to help Pakistan overcome its energy shortages through financing and investments in major energy and infrastructure projects.
Published 09 May, 2011 12:00am
Support sought to overcome energy crisis

Support sought to overcome energy crisis

President Asif Ali Zardari on Sunday urged the Kuwaiti financial and investment giants to help Pakistan overcome its energy shortages through financing and investments in major energy and infrastructure projects.
Published 09 May, 2011 12:00am
Investors assured of protection

Investors assured of protection

President Asif Ali Zardari assuring full protection to foreign investments invited the Kuwaiti businessmen and entrepreneurs on Sunday to take advantage of the investment-friendly policies of the present government.
Published 09 May, 2011 12:00am
Investors assured of protection

Investors assured of protection

President Asif Ali Zardari assuring full protection to foreign investments invited the Kuwaiti businessmen and entrepreneurs on Sunday to take advantage of the investment-friendly policies of the present government.
Published 09 May, 2011 12:00am
Investors assured of protection

Investors assured of protection

President Asif Ali Zardari assuring full protection to foreign investments invited the Kuwaiti businessmen and entrepreneurs on Sunday to take advantage of the investment-friendly policies of the present government.
Published 09 May, 2011 12:00am
OBL had Pakistan 'support network': Obama tells CBS

OBL had Pakistan 'support network': Obama tells CBS

US President Barack Obama pressed Pakistan on Sunday to probe how Osama bin Laden managed to live for years under the noses of its military, saying he must have had some kind of support network.
Published 09 May, 2011 12:00am
OBL had Pakistan 'support network': Obama tells CBS

OBL had Pakistan 'support network': Obama tells CBS

US President Barack Obama pressed Pakistan on Sunday to probe how Osama bin Laden managed to live for years under the noses of its military, saying he must have had some kind of support network.
Published 09 May, 2011 12:00am
'Heads will roll' after probe: Haqqani

'Heads will roll' after probe: Haqqani

A defensive Pakistan Ambassador to Washington Husain Haqqani vowed Sunday that Islamabad officials will be sacked following an investigation into how Osama bin Laden lived undetected for years in the country.
Published 09 May, 2011 12:00am
'Heads will roll' after probe: Haqqani

'Heads will roll' after probe: Haqqani

A defensive Pakistan Ambassador to Washington Husain Haqqani vowed Sunday that Islamabad officials will be sacked following an investigation into how Osama bin Laden lived undetected for years in the country.
Published 09 May, 2011 12:00am
Obama has no scheduled visit to Pakistan

Obama has no scheduled visit to Pakistan

The White House rowed back Sunday on earlier plans for US President Barack Obama to visit Pakistan this year, as the diplomatic fallout from the killing of Osama bin Laden intensified. Last October, Obama committed himself to visiting Pakistan in 2011, bu
Published 09 May, 2011 12:00am
Obama has no scheduled visit to Pakistan

Obama has no scheduled visit to Pakistan

The White House rowed back Sunday on earlier plans for US President Barack Obama to visit Pakistan this year, as the diplomatic fallout from the killing of Osama bin Laden intensified. Last October, Obama committed himself to visiting Pakistan in 2011, bu
Published 09 May, 2011 12:00am
Wives, children: no country has approached Pakistan

Wives, children: no country has approached Pakistan

No country has approached Pakistan for safe return of Osama bin Laden's wives and eight of his children who are currently in custody of Pakistani authorities, Foreign Office said on Sunday. Meanwhile, Prime Minister Yousuf Raza Gilani will take parliament
Published 09 May, 2011 12:00am
Wives, children: no country has approached Pakistan

Wives, children: no country has approached Pakistan

No country has approached Pakistan for safe return of Osama bin Laden's wives and eight of his children who are currently in custody of Pakistani authorities, Foreign Office said on Sunday. Meanwhile, Prime Minister Yousuf Raza Gilani will take parliament
Published 09 May, 2011 12:00am
Index down 177.58 points

Index down 177.58 points

The KSE-100 index declined by 177.58 points during the week ended on May 6, 2011 and closed at 11.879.96 points.
Published 09 May, 2011 12:00am
Index down 177.58 points

Index down 177.58 points

The KSE-100 index declined by 177.58 points during the week ended on May 6, 2011 and closed at 11.879.96 points.
Published 09 May, 2011 12:00am
Index down 177.58 points

Index down 177.58 points

The KSE-100 index declined by 177.58 points during the week ended on May 6, 2011 and closed at 11.879.96 points.
Published 09 May, 2011 12:00am
Futures open interest up by 13.1 percent

Futures open interest up by 13.1 percent

Total open interest position at the futures counter increased by 13.1 percent during the week ended on May 6, 2011 to Rs 1.05 billion. However, futures spreads declined by 112bps to 4.64 percent. Trading at the futures counter remained low as the average
Published 09 May, 2011 12:00am
Futures open interest up by 13.1 percent

Futures open interest up by 13.1 percent

Total open interest position at the futures counter increased by 13.1 percent during the week ended on May 6, 2011 to Rs 1.05 billion. However, futures spreads declined by 112bps to 4.64 percent. Trading at the futures counter remained low as the average
Published 09 May, 2011 12:00am
Futures open interest up by 13.1 percent

Futures open interest up by 13.1 percent

Total open interest position at the futures counter increased by 13.1 percent during the week ended on May 6, 2011 to Rs 1.05 billion. However, futures spreads declined by 112bps to 4.64 percent. Trading at the futures counter remained low as the average
Published 09 May, 2011 12:00am
Futures open interest up by 13.1 percent

Futures open interest up by 13.1 percent

Total open interest position at the futures counter increased by 13.1 percent during the week ended on May 6, 2011 to Rs 1.05 billion. However, futures spreads declined by 112bps to 4.64 percent. Trading at the futures counter remained low as the average
Published 09 May, 2011 12:00am
FBR studying proposal for 7-8 percent FED levy on sugar

FBR studying proposal for 7-8 percent FED levy on sugar

The Federal Board of Revenue (FBR) is examining a budget proposal to impose 7-8 percent federal excise duty (FED) on sugar to bring the rate at par with the standard rate of 17 percent sales tax on the commodity from fiscal year 2011-12.
Published 09 May, 2011 12:00am
FBR studying proposal for 7-8 percent FED levy on sugar

FBR studying proposal for 7-8 percent FED levy on sugar

The Federal Board of Revenue (FBR) is examining a budget proposal to impose 7-8 percent federal excise duty (FED) on sugar to bring the rate at par with the standard rate of 17 percent sales tax on the commodity from fiscal year 2011-12.
Published 09 May, 2011 12:00am
FBR studying proposal for 7-8 percent FED levy on sugar

FBR studying proposal for 7-8 percent FED levy on sugar

The Federal Board of Revenue (FBR) is examining a budget proposal to impose 7-8 percent federal excise duty (FED) on sugar to bring the rate at par with the standard rate of 17 percent sales tax on the commodity from fiscal year 2011-12.
Published 09 May, 2011 12:00am
Egypt warns 'iron hand' to halt religious unrest

Egypt warns 'iron hand' to halt religious unrest

Egypt's government warned on Sunday it will use an "iron hand" to ensure national security after clashes between Muslims and Christians in Cairo killed 12 people and injured scores. Authorities would "strike with an iron hand all those who seek to tamper
Published 09 May, 2011 12:00am
Thousands of Mexicans march to protest drug war

Thousands of Mexicans march to protest drug war

Thousands of Mexicans on Sunday marched into the capital city to protest the wave of killing that has claimed 38,000 lives since President Felipe Calderon launched his war on drug gangs in late 2006. Demonstrators, many wearing white and walking in silenc
Published 09 May, 2011 12:00am
Thousands demand reform in Morocco rally

Thousands demand reform in Morocco rally

Thousands of protesters marched in Morocco on Sunday to demand reform in the Arab world's longest-serving dynasty and to oppose militant violence after a deadly bomb attack. The rally in Marrakesh is the latest in a series organised by the February 20 you
Published 09 May, 2011 12:00am
Correa wins in Ecuadoran referendum

Correa wins in Ecuadoran referendum

Leftist Ecuadoran President Rafael Correa has scored a major political victory with voters approving a raft of his controversial reform proposals in a referendum, early returns and private exit polls showed Sunday. The proposals included measures bolsteri
Published 09 May, 2011 12:00am
Conservatives turn up heat on Ahmadinejad

Conservatives turn up heat on Ahmadinejad

Iran's ruling conservatives have increased the pressure on President Mahmoud Ahmadinejad to "obey" the Islamic republic's supreme leader Ayatollah Ali Khamenei, saying his latest pledges did not go far enough.
Published 09 May, 2011 12:00am
'Game over' for Qadhafi, says Nato chief

'Game over' for Qadhafi, says Nato chief

The Nato chief said Sunday he was confident that time was running out for Libyan leader Maummar Qadhafi, despite the prolonged stalemate between his forces and rebels who seek his ouster. But Anders Fogh Rasmussen also acknowledged the brutal war that has
Published 09 May, 2011 12:00am
Heavy fighting grips Libya's besieged Misrata

Heavy fighting grips Libya's besieged Misrata

Libyan regime forces laying siege to Misrata intensified their assault on the lifeline port on Sunday as smoke billowed from a fuel depot bombing, attacks a rights group said may amount to an atrocity. Two loud explosions were also heard in Tripoli, where
Published 09 May, 2011 12:00am
Syrian tanks storm Homs districts, southern towns

Syrian tanks storm Homs districts, southern towns

Syrian forces stormed three neighbourhoods in the central city of Homs and tanks swept into several southern towns on Sunday, residents said, in a campaign to crush an uprising against autocratic Baathist rule.
Published 09 May, 2011 12:00am
Italy rescues 500 Libya refugees in 'miracle' operation

Italy rescues 500 Libya refugees in 'miracle' operation

Italian coast guards and local fisherman saved all 528 refugees on a boat from Libya early Sunday after their vessel hit rocks off the island of Lampedusa, an operation one rescuer described as a "miracle".
Published 09 May, 2011 12:00am
Kuwaiti ruler swears in new cabinet

Kuwaiti ruler swears in new cabinet

Kuwaiti Emir Sheikh Sabah al-Ahmad al-Sabah swore in the country's new cabinet Sunday, the official KUNA news agency reported, after the former government resigned in March. Former Kuwaiti prime minister Nasser Mohammed al-Ahmed al-Sabah was asked to form
Published 09 May, 2011 12:00am
Three injured in blast near KP minister's house

Three injured in blast near KP minister's house

Three persons were injured in an improvised explosive device (IED) explosion outside the residence of ANP leader and KP Minister for Agriculture Mohammad Ayub Jan here on Sunday. According to district administration, locally made IED was used in the explo
Published 09 May, 2011 12:00am
Three injured in blast near KP minister's house

Three injured in blast near KP minister's house

Three persons were injured in an improvised explosive device (IED) explosion outside the residence of ANP leader and KP Minister for Agriculture Mohammad Ayub Jan here on Sunday. According to district administration, locally made IED was used in the explo
Published 09 May, 2011 12:00am
Canadian court denies Khadr extradition appeal

Canadian court denies Khadr extradition appeal

The Ontario Court of Appeal has upheld a decision to halt extradition proceedings for an alleged al Qaeda arms supplier, citing the extent of US human rights abuses tied to his capture in Pakistan.
Published 09 May, 2011 12:00am
Canadian court denies Khadr extradition appeal

Canadian court denies Khadr extradition appeal

The Ontario Court of Appeal has upheld a decision to halt extradition proceedings for an alleged al Qaeda arms supplier, citing the extent of US human rights abuses tied to his capture in Pakistan.
Published 09 May, 2011 12:00am
Al Qaeda leader, 17 others killed in Iraq jail clash

Al Qaeda leader, 17 others killed in Iraq jail clash

Eighteen people, including an al Qaeda leader and a senior Iraqi counter-terrorism official, died in a battle between inmates and security officers during a jailbreak attempt in Baghdad on Sunday, security officials said.
Published 09 May, 2011 12:00am
Al Qaeda leader, 17 others killed in Iraq jail clash

Al Qaeda leader, 17 others killed in Iraq jail clash

Eighteen people, including an al Qaeda leader and a senior Iraqi counter-terrorism official, died in a battle between inmates and security officers during a jailbreak attempt in Baghdad on Sunday, security officials said.
Published 09 May, 2011 12:00am
Asean summit fails to resolve Thai-Cambodia conflict

Asean summit fails to resolve Thai-Cambodia conflict

Southeast Asian leaders failed to achieve any breakthrough on Sunday to end deadly border skirmishes between Thailand and Cambodia that overshadowed a regional summit in Jakarta supposed to showcase progress towards economic integration.
Published 09 May, 2011 12:00am
Asean summit fails to resolve Thai-Cambodia conflict

Asean summit fails to resolve Thai-Cambodia conflict

Southeast Asian leaders failed to achieve any breakthrough on Sunday to end deadly border skirmishes between Thailand and Cambodia that overshadowed a regional summit in Jakarta supposed to showcase progress towards economic integration.
Published 09 May, 2011 12:00am
Asean summit fails to resolve Thai-Cambodia conflict

Asean summit fails to resolve Thai-Cambodia conflict

Southeast Asian leaders failed to achieve any breakthrough on Sunday to end deadly border skirmishes between Thailand and Cambodia that overshadowed a regional summit in Jakarta supposed to showcase progress towards economic integration.
Published 09 May, 2011 12:00am
UN summit on least developed countries today

UN summit on least developed countries today

Leaders of 48 least developed countries, donor countries and institutions gather here Monday for a UN conference to discuss a new 10-year development plan for the world's poorest nations. UN Secretary General Ban Ki-moon will chair the conference and amon
Published 09 May, 2011 12:00am
UN summit on least developed countries today

UN summit on least developed countries today

Leaders of 48 least developed countries, donor countries and institutions gather here Monday for a UN conference to discuss a new 10-year development plan for the world's poorest nations. UN Secretary General Ban Ki-moon will chair the conference and amon
Published 09 May, 2011 12:00am
Mehr appointed PC chairman

Mehr appointed PC chairman

Prime Minister Syed Yusuf Raza Gilani has appointed PML(Q) Member of National Assembly Ghous Bakhsh Mehr as Chairman of the Privatization Commission with immediate effect. Ghous Bakhsh Mehr already has the portfolio of Minister for Privatization.
Published 09 May, 2011 12:00am
Mehr appointed PC chairman

Mehr appointed PC chairman

Prime Minister Syed Yusuf Raza Gilani has appointed PML(Q) Member of National Assembly Ghous Bakhsh Mehr as Chairman of the Privatization Commission with immediate effect. Ghous Bakhsh Mehr already has the portfolio of Minister for Privatization.
Published 09 May, 2011 12:00am
Syria protest heads arrested in Banias: NGO

Syria protest heads arrested in Banias: NGO

Protest leaders in northwest Syria's flashpoint port city of Banias were among more than 250 people arrested on Sunday, including doctors in a hospital under siege, a Syrian human rights group said. Sheikh Anas al-Ayrout, a Muslim cleric considered the he
Published 09 May, 2011 12:00am
Syria protest heads arrested in Banias: NGO

Syria protest heads arrested in Banias: NGO

Protest leaders in northwest Syria's flashpoint port city of Banias were among more than 250 people arrested on Sunday, including doctors in a hospital under siege, a Syrian human rights group said. Sheikh Anas al-Ayrout, a Muslim cleric considered the he
Published 09 May, 2011 12:00am
Saudi Arabia rejects holy Zamzam water scare

Saudi Arabia rejects holy Zamzam water scare

Saudi Arabia authorities have rejected claims that holy Zamzam water from a spring inside the Grand Mosque complex of Makkah is polluted and stressed there were no health risks. The Presidency of the Two Holy Mosques Affairs said in a statement Saturday i
Published 09 May, 2011 12:00am
Saudi Arabia rejects holy Zamzam water scare

Saudi Arabia rejects holy Zamzam water scare

Saudi Arabia authorities have rejected claims that holy Zamzam water from a spring inside the Grand Mosque complex of Makkah is polluted and stressed there were no health risks. The Presidency of the Two Holy Mosques Affairs said in a statement Saturday i
Published 09 May, 2011 12:00am
Swiss minister criticises Obama

Swiss minister criticises Obama

Swiss Defence Minister Ueli Maurer has criticised President Barack Obama's announcement of Osama bin Laden's killing, claiming in a press interview on Sunday that it raised the al Qaeda leader's status. "It is problematic for me when a president announces
Published 09 May, 2011 12:00am
Swiss minister criticises Obama

Swiss minister criticises Obama

Swiss Defence Minister Ueli Maurer has criticised President Barack Obama's announcement of Osama bin Laden's killing, claiming in a press interview on Sunday that it raised the al Qaeda leader's status. "It is problematic for me when a president announces
Published 09 May, 2011 12:00am
Policy of reconciliation to continue, says Gilani

Policy of reconciliation to continue, says Gilani

Prime Minister Syed Yousuf Raza Gilani said on Sunday the government will continue the policy of political reconciliation and take along all the political parties on issues of national importance. The Prime Minister was talking to PML (Q) President Chaudh
Published 09 May, 2011 12:00am
Serious doubts in Pakistan: Was Osama really calling the shots?

Serious doubts in Pakistan: Was Osama really calling the shots?

It didn't figure. US Intelligence released footage of a grey- bearded, dishevelled figure wrapped in a shawl and wearing a woollen hat, and then it said that this same old man had been calling the shots on al Qaeda's plots around the globe.
Published 09 May, 2011 12:00am
Year 2012: 'Pak-China set $15 billion bilateral trade target'

Year 2012: 'Pak-China set $15 billion bilateral trade target'

Pakistan and China have set a target of bilateral trade of $15 billion by 2012 and the private sector will try its utmost to achieve the same. This was stated by Vice President of Saarc Chamber of Commerce and Industry (SCCI) Pakistan Chapter, Iftikhar Al
Published 09 May, 2011 12:00am
Riaz Pirzada made Health Minister

Riaz Pirzada made Health Minister

Pakistan Muslim League-Quaid (PML-Q) MNA, Riaz Hussain Pirzada has been appointed Federal Minister for Health. The Cabinet Division will issue notification of his appointment shortly. According to sources, the decision was taken in a meeting between PML-Q
Published 09 May, 2011 12:00am
Speaker Kuwait Assembly calls on President

Speaker Kuwait Assembly calls on President

President Asif Ali Zardari on Sunday emphasised the need to promote greater interaction and relations between the parliaments of Pakistan and Kuwait through exchanges of parliamentary delegations. The President was talking to Speaker of the National Assem
Published 09 May, 2011 12:00am
'Mother-in-law dies' on news of Osama killing

'Mother-in-law dies' on news of Osama killing

al Qaeda chief Osama bin Laden's first mother-in-law died of a stroke after hearing the news that US forces killed him in Pakistan, a London-based Arabic newspaper reported Sunday. Nabih al-Ghanem, the mother of bin Laden's first wife, Najwa, was taken to
Published 09 May, 2011 12:00am
More industrial estates needed in Sialkot: SCCI

More industrial estates needed in Sialkot: SCCI

Vending industry is an integral part of export industry and there was a dire need of two to three industrial estates in Sialkot not only for accelerating the business activities in this export-oriented city and hub of cottage industry, but also accommodat
Published 09 May, 2011 12:00am
Job Fair 2011 held

Job Fair 2011 held

The Punjab University College of Information Technology (PUCIT) held its first-ever "Job Fair 2011" at Old Campus, which attracted a positive response by university graduates and final year students who turned up in large numbers to explore new horizons i
Published 09 May, 2011 12:00am
Europe pressured to revise Irish, Greek bailouts

Europe pressured to revise Irish, Greek bailouts

The European Union is under pressure to renegotiate its financial bailouts of Ireland and Greece after an Irish minister said any concessions given to Athens should mean better terms for Dublin as well.
Published 09 May, 2011 12:00am
Germany rejects Greece exit from euro

Germany rejects Greece exit from euro

Germany's economy minister rejected on Sunday speculation that Greece should abandon the eurozone and return to the drachma, arguing that this would only weaken Europe at a time when it needs to be strengthened.
Published 09 May, 2011 12:00am
Former Rover chiefs banned from serving as directors

Former Rover chiefs banned from serving as directors

The four men at the head of British car maker MG Rover when it folded in 2005, resulting in the loss of more than 6,000 jobs, were banned Sunday from serving as directors for between four and six years. Peter Beale, Nick Stephenson, John Edwards and John
Published 09 May, 2011 12:00am
Swiss Life chief executive rules out takeover by Allianz

Swiss Life chief executive rules out takeover by Allianz

Insurer Swiss Life is unlikely to become the target of a takeover bid, particularly by its German rival Allianz, Chief Executive Bruno Pfister said on Sunday. "The idea Swiss Life could be taken over by Allianz is totally unfounded," Pfister told Swiss ne
Published 09 May, 2011 12:00am
Apple and Google to face lawmakers in privacy tussle

Apple and Google to face lawmakers in privacy tussle

Tech companies such as Apple and Google are hoping the tracks of millions of mobile device users will lead to billions of dollars in revenue. But where they see dollar signs, lawmakers see red flags.
Published 09 May, 2011 12:00am
Iraq not to cut oil output capacity goal

Iraq not to cut oil output capacity goal

Iraq does not plan to lower its 12 million barrel per day oil output capacity goal or to redo contracts with oil firms over their plateau targets, Deputy Prime Minister for energy Hussain al-Shahristani said on Sunday.
Published 09 May, 2011 12:00am
Iraq, Turkey's Calik start work on 1,250 MW plant

Iraq, Turkey's Calik start work on 1,250 MW plant

Iraqi energy officials on Sunday marked the start of work on a 1,250 megawatt power plant with Turkey's Calik Enerji as the power-starved country seeks to boost its electricity output.
Published 09 May, 2011 12:00am
Princess Diana dresses sell for $276,000

Princess Diana dresses sell for $276,000

A pair of dresses worn by Princess Diana sold at a pop culture auction in Beverly Hills for a total of $276,000, a spokesman for the auction house said on Sunday.
Published 09 May, 2011 12:00am
BoJ plans capital boost to provision against losses

BoJ plans capital boost to provision against losses

The Bank of Japan plans to bolster its capital to provision against potential losses from an asset-buying scheme, a source familiar with the central bank's thinking said, in a move that would give it room to further ease monetary policy if needed to suppo
Published 09 May, 2011 12:00am
Japan 'committed to nuclear power' despite shutdown call

Japan 'committed to nuclear power' despite shutdown call

Japanese officials said on Sunday they were committed to nuclear power after the prime minister called for a plant to close, but that the target of obtaining half of Japan's electricity from nuclear power by 2030 needed a rethink.
Published 09 May, 2011 12:00am
Qatar rules out drastic' Opec action on prices

Qatar rules out drastic' Opec action on prices

Qatar on Sunday ruled out any "dramatic" action by the Organisation of Petroleum Exporting Countries to control prices, insisting that production and supplies were at healthy levels. Qatar's Energy Minister Mohammed Saleh al-Sada told reporters on the sid
Published 09 May, 2011 12:00am
Oil prices still do not reflect fundamentals: Saudi Arabia

Oil prices still do not reflect fundamentals: Saudi Arabia

Oil prices do not reflect market fundamentals even after the recent drop in price, and volatility still remains high, a Saudi Arabian oil official said on Sunday. "Current oil prices do not reflect fundamentals of the market, the market today faces a lot
Published 09 May, 2011 12:00am
Sharjah Islamic Bank picks banks for sukuk issue

Sharjah Islamic Bank picks banks for sukuk issue

Sharjah Islamic Bank, (SIB) has picked HSBC and Standard Chartered as joint lead managers for an Islamic bond, the lender said on Sunday. The Islamic bond, or sukuk, will be launched subject to market conditions after roadshows taking place in the Middle
Published 09 May, 2011 12:00am
Senate body to discuss: Pak-India water issues today

Senate body to discuss: Pak-India water issues today

The Senate Standing Committee on Water and Power would discuss Pak-India water issues and litigation details on Monday (today). Nawabzada Mir Haji Laskari Raisani will preside over the meeting.
Published 09 May, 2011 12:00am
Czech police detain Pakistani terror suspect

Czech police detain Pakistani terror suspect

Czech police have detained a Pakistani national wanted on an international warrant for murder and terrorism, Czech Interior Minister Jan Kubice said on Sunday. The suspect was detained last week after applying for asylum in the central European country.
Published 09 May, 2011 12:00am
Kuwaiti Premier calls on Zardari

Kuwaiti Premier calls on Zardari

Prime Minister of Kuwait Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah called on President Asif Ali Zardari here at the Bayan Palace and discussed bilateral relations as well as other matters of mutual interest.
Published 09 May, 2011 12:00am
'Local car makers should plan transfer of technology'

'Local car makers should plan transfer of technology'

The Pakistan Economy Watch (PEW) on Sunday said that natural disasters in Japan have proved fateful for Pakistan's auto industry which continues to rely heavily on imported components. Car manufacturers should plan transfer of technology, revisit import s
Published 09 May, 2011 12:00am
Supreme Court to resume ZAB case hearing today

Supreme Court to resume ZAB case hearing today

The Supreme Court on Monday will resume hearing of a presidential reference seeking revisiting of the murder case of Pakistan's first democratically Prime Minister Shaheed Zulfiqar Ali Bhutto.
Published 09 May, 2011 12:00am
JI chief urges masses to stand up against rulers

JI chief urges masses to stand up against rulers

Jamaat-e-Islami chief, Syed Munawar Hasan, has said that the spinelessness of the rulers against the US threats had brought disgrace and ignominy to the country and the nation, and it was time the masses should stand up against these 'US slaves.' Addressi
Published 09 May, 2011 12:00am
Demonstration in favour of ISI and Army

Demonstration in favour of ISI and Army

Civil society activists on Sunday staged a demonstration in favour of Inter Services Intelligence (ISI) and Armed forces and burnt the US president Barrack Osama's posters and US flag. The angry demonstrators shouted slogans against the American administr
Published 09 May, 2011 12:00am
Wapda chairman visits Mirani Dam Project site

Wapda chairman visits Mirani Dam Project site

Water and Power Development Authority (Wapda) Chairman, Shakil Durrani visited Mirani Dam Project site located in the Turbat district of Makran region in Balochistan province. Speaking on the occasion, Durrani said that in addition to executing mega proje
Published 09 May, 2011 12:00am
PTI demands President and Prime Minister resignation

PTI demands President and Prime Minister resignation

The Central Executive Committee of PTI met on Sunday to deliberate on the grave security and political situation in the country arising out of US special forces' operation in Abbottabad on May 2, killing Osama bin Laden.
Published 09 May, 2011 12:00am
Chief minister Punjab freezes transfers, postings

Chief minister Punjab freezes transfers, postings

As per information received from DGPR Sunday, Chief Minister Punjab Muhammad Shahbaz Sharif has frozen all kind of postings and transfers in Tehsil Municipal Administrations throughout the province till June 30, 2011.
Published 09 May, 2011 12:00am
World Mother's Day celebrated

World Mother's Day celebrated

In order to show special love and affection to mothers, a special day is celebrated, which is called Mothers' Day. The Day is celebrated on different days and dates around the world. Most commonly, Mother's Day occurs on the second Sunday in May.
Published 09 May, 2011 12:00am
'Government gives top priority to healthcare'

'Government gives top priority to healthcare'

The government has focussed priority on primary and protective healthcare to achieve the Millennium Development Goals (MDGs. This was stated by Labour Minister Punjab Haji Ehsaan-ud-Din Qureshi. He said that midwifery homes would be established at the far
Published 09 May, 2011 12:00am
Growing pollution posing threats to human life

Growing pollution posing threats to human life

Tanneries, which have mushroomed in and around Sialkot over last decade, major factor in environmental degradation. At present there are more than 248 tanneries are functioning of which nine large, 79 medium and 169 small tanneries, which have been set up
Published 09 May, 2011 12:00am
Musharraf warns US not to repeat May 2 action

Musharraf warns US not to repeat May 2 action

Former President General Pervez Musharraf (Retd) has warned the United States not to repeat its May 2 action anywhere in Pakistan, as it would not be good for Pakistan's co-operation in war against terror.
Published 09 May, 2011 12:00am
US attack in Abbottabad Condemned

US attack in Abbottabad Condemned

The Pakistan Bar Council (PBC)'s former Vice-President Mian Abbas Ahmed demanded on Sunday that political and military leadership of Pakistan should resign for showing negligence in defending the country's borders and air space during US attack in Abbotta
Published 09 May, 2011 12:00am
Abbottabad offensive: Qureshi asks President, Prime Minister to quit

Abbottabad offensive: Qureshi asks President, Prime Minister to quit

PPP central leader and former foreign minister Shah Mehmood Qureshi, while terming the unilateral US operation in Abbottabad offensive, said that President Asif Ali Zardari and Prime Minister, Syed Yousaf Raza Gilani should tender resignations.
Published 09 May, 2011 12:00am
Growing pollution by tanneries posing threats to environment

Growing pollution by tanneries posing threats to environment

Tanneries, which have mushroomed in and around Sialkot over last decade, are major contributor in environmental degradation. At present there are more than 248 tanneries, out of which nine are large, 79 medium and 169 small tanneries, which have been set
Published 09 May, 2011 12:00am
Yen to weaken modestly

Yen to weaken modestly

The Japanese yen is set to weaken modestly against the US dollar, its losses limited by an unsteady US recovery and loose monetary policy that are keeping the greenback under pressure, a Reuters poll showed.
Published 09 May, 2011 12:00am
Dollar to stay in chokehold over coming months

Dollar to stay in chokehold over coming months

The US dollar will remain in a chokehold over coming months, thanks to an easy monetary policy out of step with other central banks now fretting over inflation or battling against it, a Reuters poll showed.
Published 09 May, 2011 12:00am
Wall Street weekahead: commodities' drop curbs risk appetite

Wall Street weekahead: commodities' drop curbs risk appetite

US stock investors head into next week with added worries about the sustainability of the recent rally and a desire to reduce risk, as shown by the stampede out of commodities on Thursday. Stocks also will begin to lose the support they've enjoyed from st
Published 09 May, 2011 12:00am
HSBC in focus for FTSE investors next week

HSBC in focus for FTSE investors next week

HSBC will be a major focus of attention for investors in the coming week as the British banking giant presents a first-quarter earnings update Monday followed by a key strategy review two days later. Banks were already in focus for British traders this pa
Published 09 May, 2011 12:00am
Sterling seen flat versus dollar

Sterling seen flat versus dollar

Sterling is set to hold steady against the dollar in the coming year as despite high inflation a tepid economic recovery gives the Bank of England little room to raise interest rates, a Reuters poll found on Thursday.
Published 09 May, 2011 12:00am
Global markets weekahead: chill from commodities rout

Global markets weekahead: chill from commodities rout

A commodities sell-off is bringing a sudden chill to financial markets where investors were already turning cautious about the prospect of a slowdown in China and other emerging economies given steady monetary tightening. Silver and crude oil saw a dramat
Published 09 May, 2011 12:00am
Aussie dollar to hold above parity, New Zealand $ seen easing

Aussie dollar to hold above parity, New Zealand $ seen easing

The sky-high Australian dollar is seen to hang on above parity over the next year helped by speculation domestic rates, already among the highest in the developed world, may head even higher, a poll showed on Friday.
Published 09 May, 2011 12:00am
Wall Street at a loss as Citi trading game set to end

Wall Street at a loss as Citi trading game set to end

Citigroup's reverse stock split will severely curb trading activity in one of Wall Street's favourite stocks, forcing traders who seek to profit from frequently trading the shares to find a new source of income.
Published 09 May, 2011 12:00am
Tokyo shares likely to be rangebound

Tokyo shares likely to be rangebound

Tokyo share prices are likely to move in a small range over the coming week as investors look for trading pegs by watching Japanese corporate earnings, US data and currency rates, brokers said. In the holiday-shortened week to May 6, the benchmark Nikkei
Published 09 May, 2011 12:00am
United on brink of title as Chelsea downed

United on brink of title as Chelsea downed

Manchester United defeated Chelsea 2-1 at Old Trafford on Sunday to leave themselves on the brink of a record 19th Premier League title. First-half goals from Javier Hernandez and captain Nemanja Vidic clinched a deserved victory which means Sir Alex Ferg
Published 09 May, 2011 12:00am
Arsenal suffer blow as Wolves edge to safety

Arsenal suffer blow as Wolves edge to safety

Arsenal slumped to a 3-1 defeat against Stoke on Sunday, all but extinguishing the Gunners' faint Premier League title hopes. First-half goals from Kenwyne Jones and Arsenal old boy Jermaine Pennant followed by a late Jonathan Walters strike secured a des
Published 09 May, 2011 12:00am
Gayle, Dilshan power Bangalore to victory

Gayle, Dilshan power Bangalore to victory

Chris Gayle hammered 36 runs in an over in his 16-ball 44 to fire Royal Challengers Bangalore to a nine-wicket win over Kochi Tuskers Kerala in an Indian Premier League match on Sunday. The West Indies batsman put on 67 for the opening wicket off just 3.5
Published 09 May, 2011 12:00am
Four-goal Ronaldo keeps Real clinging on

Four-goal Ronaldo keeps Real clinging on

Cristiano Ronaldo grabbed four goals to take his season's tally to 33 as Real Madrid crushed Sevilla 6-2 on Saturday to keep their slim hopes of beating Barcelona to the La Liga title alive. The gap at the top of the table is now down to five points but a
Published 09 May, 2011 12:00am
Marta Women Football Club launched

Marta Women Football Club launched

While appreciating the efforts of the Pakistan Football Federation (PFF) for the promotion of football in the country, the vice-president of the Marta Women Football Club Irun Pearl has said that the federation has done a great job in introducing and deve
Published 09 May, 2011 12:00am
Afridi criticises coach meddling

Afridi criticises coach meddling

Pakistan One-day captain Shahid Afridi on Sunday criticised coach Waqar Younis for interference in team selection, saying that he would take up the matter with the country's cricket chief. Pakistani media last week reported that Afridi and Waqar did not g
Published 09 May, 2011 12:00am
Sultan Azlan Shah Cup: Britain end Pakistan unbeaten run

Sultan Azlan Shah Cup: Britain end Pakistan unbeaten run

Britain ended Pakistan's unbeaten run in the Sultan Azlan Shah Cup Sunday with a hard earned 3-2 victory, leaving the Asian side with a slender lead at the top of the standings. Both teams have six points from three matches, but Pakistan are ahead on goal
Published 09 May, 2011 12:00am
Kvitova wins Madrid WTA title

Kvitova wins Madrid WTA title

Petra Kvitova defeated Victoria Azarenka 7-6 (7/3), 6-4 on Sunday to won the ATP-WTA Madrid Masters women's title and earn herself a place in the top 10 in the world rankings. The upset victory in one hour, 42 minutes prevented the Belarus player from win
Published 09 May, 2011 12:00am
Collingwood reveals anguish at captaincy axe

Collingwood reveals anguish at captaincy axe

Paul Collingwood has revealed his despair after being axed as captain of England's Twenty20 team just a year after leading his country to their first ever success in a global tournament.
Published 09 May, 2011 12:00am
Gasquet advances in Rome

Gasquet advances in Rome

Richard Gasquet, the 16th seed, made light work of Spanish opponent Albert Montanes on Sunday to reach the second round of the Rome International here. The Frenchman, a former number seven and junior world number one, never looked in trouble as he eased t
Published 09 May, 2011 12:00am
Pacquiao easily beats Mosley to retain WBO title

Pacquiao easily beats Mosley to retain WBO title

Manny Pacquiao of the Philippines retained his WBO welterweight title by recording an unanimous points victory over a lacklustre Shane Mosley at the MGM Garden Arena on Saturday. The 32-year-old southpaw, despite being hampered by cramp in his left leg mi
Published 09 May, 2011 12:00am
Big natural disaster claims hit Swiss Re, top insurers

Big natural disaster claims hit Swiss Re, top insurers

Global reinsurance giant Swiss Re reported a quarterly loss on May 05 as insurers shouldered the burden of exceptionally high claims for natural disaster damage this year including Japan's quake and tsunami.
Published 09 May, 2011 12:00am
BNP Paribas profits up 14.6 percent, shares rise

BNP Paribas profits up 14.6 percent, shares rise

BNP Paribas announced a 14.6-percent rise in net profit to 2.61 billion euros ($3.86 billion), in its first-quarter results on May 04. The results had occurred against a backcloth of an "improved" world economic climate, it said.
Published 09 May, 2011 12:00am
BNP Paribas profits up 14.6 percent, shares rise

BNP Paribas profits up 14.6 percent, shares rise

BNP Paribas announced a 14.6-percent rise in net profit to 2.61 billion euros ($3.86 billion), in its first-quarter results on May 04. The results had occurred against a backcloth of an "improved" world economic climate, it said.
Published 09 May, 2011 12:00am
Adidas reports QI profits up 25 percent

Adidas reports QI profits up 25 percent

Adidas, the world's second biggest sportswear and equipment group, on May 05 announced first quarter profits of 209 million euros ($ 310 million), up 25 percent on the same period last year. Analysts polled by Dow Jones Newswires had expected a hike of ju
Published 09 May, 2011 12:00am
Adidas reports QI profits up 25 percent

Adidas reports QI profits up 25 percent

Adidas, the world's second biggest sportswear and equipment group, on May 05 announced first quarter profits of 209 million euros ($ 310 million), up 25 percent on the same period last year. Analysts polled by Dow Jones Newswires had expected a hike of ju
Published 09 May, 2011 12:00am
Bank of Khartoum to tap farm investments, sukuks

Bank of Khartoum to tap farm investments, sukuks

Bank of Khartoum, Sudan's biggest private bank, hopes to benefit from foreign farmland investments in the African country and plans to arrange at least one Islamic bond this year, its general manager said.
Published 09 May, 2011 12:00am
Bahrain's Baraka to buy Indonesian bank in 2011

Bahrain's Baraka to buy Indonesian bank in 2011

Bahraini Islamic lender Al Baraka plans to buy an Indonesian bank this year for around $100 million and has identified up to four possible options, its chief executive said on May 03. "We sent in early February a delegation...to follow up on our expansion
Published 09 May, 2011 12:00am
Nokia's chairman to step down next year

Nokia's chairman to step down next year

Nokia, the world's largest phone maker by volume, has started to look for a new chairman to succeed Jorma Ollila who will step down next year, Ollila said on May 03.
Published 09 May, 2011 12:00am
BMW Q1 profit boosted by Chinese, US demand

BMW Q1 profit boosted by Chinese, US demand

BMW beat expectations in the first quarter on strong demand for luxury cars in China and growth in the United States, signalling the rebound in the global auto market is here to stay. The company said it still aims to sell more than 1.5 million cars this
Published 09 May, 2011 12:00am
BMW Q1 profit boosted by Chinese, US demand

BMW Q1 profit boosted by Chinese, US demand

BMW beat expectations in the first quarter on strong demand for luxury cars in China and growth in the United States, signalling the rebound in the global auto market is here to stay. The company said it still aims to sell more than 1.5 million cars this
Published 09 May, 2011 12:00am
Bing to be default search engine on BlackBerry

Bing to be default search engine on BlackBerry

Microsoft chief executive Steve Ballmer announced on May 3 that the US software giant's Bing search engine and maps would be the default service on BlackBerry devices. Ballmer made the announcement during a surprise appearance at the three-day BlackBerry
Published 09 May, 2011 12:00am
Apple adds latest Intel chips to iMac computers

Apple adds latest Intel chips to iMac computers

Apple on May 3 announced that it beefed up its iMac all-in-one desktop computers with powerful new-generation Intel chips and high definition cameras. The latest iMac computers were touted as 70 percent faster than their predecessors with a threefold impr
Published 09 May, 2011 12:00am
Android smartphones widen lead in US

Android smartphones widen lead in US

Smartphones powered by Google software widened their lead on BlackBerry handsets in the US market during the first three months of the year, industry tracker comScore reported on May 6.
Published 09 May, 2011 12:00am
Google tops Harris corporate reputation poll

Google tops Harris corporate reputation poll

Google was ranked number one in a US poll by Harris Interactive regarding reputations of major corporations. The Internet giant took first place from Berkshire Hathaway, which fell to fourth place in the annual assessment of what the public thinks of comp
Published 09 May, 2011 12:00am
Intel's new chip technology may drive mobile push

Intel's new chip technology may drive mobile push

Intel Corp on May 4 took the wraps off next-generation technology that crams more transistors onto microchips, betting it will help the chipmaker catch up in the red-hot tablet and smartphone market. Intel expects to use the new technology to make PC and
Published 09 May, 2011 12:00am
EU pushes button for next Internet age

EU pushes button for next Internet age

Europe geared up on May 3 for a quantum leap in Internet traffic and a new generation of infrastructure to carry data, announcing the launch of a 600-million-euro research and investment programme.
Published 09 May, 2011 12:00am
UN human rights expert hails 'power' of Internet

UN human rights expert hails 'power' of Internet

A UN human rights expert has marked World Press Freedom Day by hailing the epoch-making power of the Internet and the role online social networking has played in uprisings in the Middle East.
Published 09 May, 2011 12:00am
Computers can teach children

Computers can teach children

Apple Inc co-founder Steve Wozniak has an idea that could help fix the US public education system: computers, of course. Technology is getting to the point where devices are built today that have all the sensors humans have - of movement, eyesight and hea
Published 09 May, 2011 12:00am
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