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Archive - 2011-05-12
US agents question Osama’s widows
Top News

US agents question Osama’s widows

WASHINGTON: US agents have been given access to the widows of al-Qaeda leader Osama bin Laden by Pakistani security forc
Published 12 May, 2011 07:00pm
European stocks slide
Financial

European stocks slide

LONDON: Europe's main stock markets ended down Thursday with London's FTSE 100 index of leading shares giving up 0.52 pe
Published 12 May, 2011 05:59pm
SECP registered 23 companies in April
Top News

SECP registered 23 companies in April

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has registered 20 companies having foreign investment
Published 12 May, 2011 03:15pm
Food dept procures over 1.4mn mt wheat
Top News

Food dept procures over 1.4mn mt wheat

LAHORE: The Punjab Food Department has so far procured over 1.4 million metric ton wheat against its target of 3.5 milli
Published 12 May, 2011 03:14pm
LSM grows 6.75 percent in March
Top News

LSM grows 6.75 percent in March

ISLAMABAD: The Large Scale Manufacturing (LSM) grew by 6.75 percent during the month of March this year as compared to t
Published 12 May, 2011 12:09pm
Estonia GDP rises 8 percent
Europe

Estonia GDP rises 8 percent

TALLINN: Euro zone member Estonia's gross domestic product jumped by 8 percent year-on-year in the first quarter of 2011
Published 12 May, 2011 10:24am
Sterling at 3-week low
Financial

Sterling at 3-week low

LONDON: Sterling fell to three-week low against the dollar and slipped against the euro on Thursday after British indust
Published 12 May, 2011 09:26am
'Red rout' as India's communists fall
Top News

'Red rout' as India's communists fall

KOLKATA: The Indian state of West Bengal said goodbye Friday to three decades of uninterrupted rule by the world's longe
Published 12 May, 2011 06:09am
US Middle East envoy to resign
Top News

US Middle East envoy to resign

WASHINGTON:  Special envoy to the Middle East, George Mitchell, is resigning after two years in office, US officials sai
Published 12 May, 2011 05:56am
Oil prices rebound in Asia
Energy

Oil prices rebound in Asia

SINGAPORE: Oil prices rebounded in Asian trade Thursday after plunging overnight on signs of faltering demand in the Uni
Published 12 May, 2011 05:14am
G2P payments: We can do this!
BR Research

G2P payments: We can do this!

After the private sectors overwhelming success in Person to Person (P2P) transfers in the last two years, it is about time the government pa
Published 12 May, 2011 12:00am
Global FDI: promising prospects
BR Research

Global FDI: promising prospects

Varied progress and varying recovery in different regions and countries dotted the global economic climate last year. And the pattern of FDI
Published 12 May, 2011 12:00am
Currency in circulation rises to Rs 1,593.60 billion

Currency in circulation rises to Rs 1,593.60 billion

The volume of circulating currency has increased to Rs 1,593.60 billion, as on April 28, 2011 from Rs 1,377.40 billion as on July 2010, ie 16 percent increase which amounts to Rs 216.20 billion. In a written reply to a question in the National Assembly, F
Published 12 May, 2011 12:00am
ITBA asks FBR not to issue controversial clarifications

ITBA asks FBR not to issue controversial clarifications

The Income Tax Bar Association (ITBA) Karachi has asked the Federal Board of Revenue (FBR) to refrain from issuing controversial income tax clarifications from which it seems to treat the tax deduction on services pertaining to corporate taxpayers as mini
Published 12 May, 2011 12:00am
Supreme Court summons Balochistan's chief secretary

Supreme Court summons Balochistan's chief secretary

The Supreme Court on Wednesday summoned chief secretary Balochistan for May 12 and apprise the court about actions taken by the provincial government regarding deteriorating law and order situation in the province. A three-judge bench, headed by Chief Jus
Published 12 May, 2011 12:00am
FPCCI's Business Councils' Chairmen appointed

FPCCI's Business Councils' Chairmen appointed

The elections of 14 Business Councils of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have been completed and chairmen of these councils have been appointed by Senator Haji Ghulam Ali as President FPCCI.
Published 12 May, 2011 12:00am
Diamond trade, investment award conferred on Malaysia

Diamond trade, investment award conferred on Malaysia

Diamond Trade and Investment Award was conferred on Malaysia at the inaugural ceremony of Diplomatic and Foreign Investment Award 2010 held on 7 May 2011 in Karachi. The event organised by Diplomatic Call International Magazine was held to acknowledge and
Published 12 May, 2011 12:00am
Cotton futures: Aptma managing committee to discuss trading on May 13

Cotton futures: Aptma managing committee to discuss trading on May 13

The All Pakistan Textile Mills Association (Aptma) has convened a meeting of the managing committee on Friday May 13, 2011, to discuss issues faced by the industry. The meeting will deliberate on two major issues: one) the resumption of cotton futures tra
Published 12 May, 2011 12:00am
Hydrogen peroxide: SHC removes anti-dumping duty

Hydrogen peroxide: SHC removes anti-dumping duty

Sindh High Court has invalidated the temporary anti-dumping duty imposed by the National Tariff Commission (NTC) on hydrogen peroxide, and allowed its refund already deducted on the import of this raw material.
Published 12 May, 2011 12:00am
PIDE seminar: 'about 74 percent Pakistan's population is food insecure'

PIDE seminar: 'about 74 percent Pakistan's population is food insecure'

About 74 percent of Pakistan's population is food insecure as the country has waged war against militants which has increased economic woes manifold. Addressing a pre-budget seminar organised by Pakistan Institute of Development Economics (PIDE) here on W
Published 12 May, 2011 12:00am
Austria hopes Pakistan could get GSP plus status

Austria hopes Pakistan could get GSP plus status

Ambassador of Austria, Axel Wech has advised the business community to approach Islamabad to sign some international agreements to get Generalised System of Preference (GSP) plus status for boosting its export to European Union (EU) countries. Addressing
Published 12 May, 2011 12:00am
PBC calls May 12 'Black day'

PBC calls May 12 'Black day'

Punjab Bar Council (PBC) has called "Black day" on May 12 (today) to condemn killing of lawyers and express solidarity with the lawyers of Karachi who were burnt alive on May 12, 2007 during the lawyer's movement for restoration of judiciary. A press rele
Published 12 May, 2011 12:00am
Gilani for rejuvenating relations with Qatar

Gilani for rejuvenating relations with Qatar

Prime Minister Syed Yousuf Raza Gilani while underlining the importance that Pakistan attaches to its close cordial and fraternal ties with Qatar, has called for rejuvenating the relationship through exchange of high level visits between the two countries
Published 12 May, 2011 12:00am
IMCL production capacity likely to improve this month

IMCL production capacity likely to improve this month

Production capacity of Indus Motor Company Limited (IMCL), which had gone down to 60 percent in April, 2011 as a result of devastation caused by tsunami in Japan is likely to improve during the current month, said Raza Ansari, Director, Marketing Division
Published 12 May, 2011 12:00am
Government to modernise communication sector: Gilani

Government to modernise communication sector: Gilani

Prime Minister Syed Yousuf Raza Gilani said the government is formulating policies to modernise the means of communications in the country. Railways, he maintained, is the cheapest and safest mode of land transportation in the world, and thus the system n
Published 12 May, 2011 12:00am
JUI-F legislator demands independent foreign policy

JUI-F legislator demands independent foreign policy

Mufti Kifatullah, a JUI-F member of Khyber Pakhtunkhwa Assembly has called for evolving an independent foreign policy after taking all stakeholders on board. Speaking at a news conference, here on Wednesday, at Peshawar Press Club (PPC), he said that the
Published 12 May, 2011 12:00am
UVAS, SAPPL sign MoU

UVAS, SAPPL sign MoU

An agreement has been signed between University of Veterinary and Animal Sciences (UVAS) and Solve Agri Pak (Pvt) Limited (SAPPL) to enhance the livestock production potential in the light of advanced scientific research. The MoU was signed by UVAS regist
Published 12 May, 2011 12:00am
Journalists protest colleague's killing, demand protection

Journalists protest colleague's killing, demand protection

Local journalists here Wednesday staged a protest demonstration against the killing of the tribal journalist Nasrullah Khan Afridi, martyred in a bomb explosion in a busy commercial area of Peshawar Cantonment on Tuesday night. The angry journalists, who
Published 12 May, 2011 12:00am
CCP orders RITS to modify 'Remaine' advert

CCP orders RITS to modify 'Remaine' advert

The Competition Commission of Pakistan (CCP) has passed an order against RITS Incorporation to modify its overall marketing campaign for the product 'Remaine' such that it complies with Section 10 of the Competition Act 2010 (the 'Act') which deals with d
Published 12 May, 2011 12:00am
Capital Police plans crackdown against drug pushers

Capital Police plans crackdown against drug pushers

Islamabad Police under a new crime elimination plan will launch a massive crackdown against drug pushers, gamblers and those involved in immoral activities to restore peace, said Senior Superintendent of Police Islamabad Tahir Alam Khan here on Wednesday.
Published 12 May, 2011 12:00am
Pakistan a warm, hospitable country: Ryu

Pakistan a warm, hospitable country: Ryu

Pakistan is a warm and hospitable country and the image that world has of it does not present a true picture. This was stated by General Manager LG Electronics Suyoung Ryu during an informal discussion with the media. Ryu said he had a lot of apprehension
Published 12 May, 2011 12:00am
Training session held on IPO through Book Building Process

Training session held on IPO through Book Building Process

The Islamabad Stock Exchange (ISE) in collaboration with the leading brokerage firm of the country AKD Securities Limited conducted a training session on the "IPO through Book Building Process", here on Wednesday at ISE Towers. The aim of this training se
Published 12 May, 2011 12:00am
Passports backlog reaches 300,000

Passports backlog reaches 300,000

Directorate General of Immigration and Passports (DGIP) has a backlog of over 300,000 passports, while the number is increasing by 15,000 with each passing day, informed sources in the DGIP told Business Recorder.
Published 12 May, 2011 12:00am
Rewterz, Qualys to provide PCI compliance solutions

Rewterz, Qualys to provide PCI compliance solutions

Rewterz, an end-to-end information security firm, announced its partnership with Qualys, a leading provider of On Demand Vulnerability Management and Policy Compliance Solutions. The partnership will leverage Qualys' Software-as-a-Service (SAAS) QualysGua
Published 12 May, 2011 12:00am
UBL selects SunGard's ambit treasury management

UBL selects SunGard's ambit treasury management

United Bank Limited (UBL), one of the largest privately-held banks in Pakistan, has selected SunGard's Ambit Treasury Management solution to help it consolidate multiple systems across its treasury operations onto a single platform. The bank will benefit
Published 12 May, 2011 12:00am
Faiz centenary conference: withdrawal of permission regretted

Faiz centenary conference: withdrawal of permission regretted

Former Indian Union Minister and deputy high commissioner to Pakistan Mani Shakar Aiyar has lamented that for the second time in two months his plans of visiting Karachi have been thwarted. According to him, the Pak authorities have withdrawn permission t
Published 12 May, 2011 12:00am
Cop among three killed

Cop among three killed

At least three persons including a cop were killed in separate incidents of targeted killing at various parts of the metropolis here on Wednesday. According to details, a cop was gunned down while the other one was injured at Sultanabad in the limits of J
Published 12 May, 2011 12:00am
PIDE proposes three-point strategy for economic recovery

PIDE proposes three-point strategy for economic recovery

The Pakistan Institute of Development Economics (PIDE) has submitted its 'Viewpoint' on the coming budget, for 2011-12, with a 3-point strategy to steer the economy out of stagflation through better macroeconomic management, maintaining fiscal prudence, a
Published 12 May, 2011 12:00am
Robbers loot Rs 3.7 million from bank

Robbers loot Rs 3.7 million from bank

At least three unidentified armed robbers looted Rs 3.7 million from a bank in broad daylight on Wednesday. According to details, at 01:04 pm, three armed robbers entered a bank situated at Chamra Chowrangi, Korangi within the limits of Korangi Industrial
Published 12 May, 2011 12:00am
Islamabad police nab 16 suspects

Islamabad police nab 16 suspects

Islamabad Police have arrested 16 persons, including three women, for their alleged involvement in different crimes, and recovered one stolen motorcycle, two pistols (30-bore), 325 gram heroin and 1.200 kg charas from their possession, said a spokesman of
Published 12 May, 2011 12:00am
Financial Innovation Challenge Fund

Financial Innovation Challenge Fund

Most bankers believe in continuous improvement in the delivery of financial services and recent innovations in the field have made their task comparatively easier. In keeping with this tradition, the State Bank Governor, Shahid Kardar on 9th May 2011 laun
Published 12 May, 2011 12:00am
Rhetoric devoid of substance

Rhetoric devoid of substance

Prime Minister Gilani couldn't be more rhetorical and sonorous than what he was in his address to the National Assembly on Monday evening - after keeping almost mum all these days over the US clandestine operation against Osama bin Laden in Abbottabad. An
Published 12 May, 2011 12:00am
VIEW POINT: After Osama

VIEW POINT: After Osama

The government did not think it owed an explanation to the hapless people of this country as to what happened in Abbottabad. As if nothing important had taken place, Prime Minister Gilani took off for his scheduled visit to France, and President Zardari h
Published 12 May, 2011 12:00am
Role of contractor for determining transfer price

Role of contractor for determining transfer price

A transfer price is a price set by a taxpayer when selling to, buying from, or sharing resources with a related person. For example, if ACo manufactures goods in Country A and sells them to its foreign affiliate, BCo, organised in Country B, the price at
Published 12 May, 2011 12:00am
Can Microsoft fix Skype?

Can Microsoft fix Skype?

The 8.5 billion dollars is a lot of money, even for cash-soaked Microsoft. So it's no wonder that Microsoft's big money acquisition of internet telephony leader Skype this week turned heads. The purchase was, after all, the largest in Microsoft's history,
Published 12 May, 2011 12:00am
Sense must prevail in Kabul

Sense must prevail in Kabul

There is jubilation in Kabul over what has gone on in Abbottabad on May 2. Karzai and company are calling the shots and seem to be settling scores. The admittance of intelligence failure by Pakistan army chief, PAF chief, FO and now PM Gilani is taken as
Published 12 May, 2011 12:00am
150 foreign companies to participate in POGEE 2011

150 foreign companies to participate in POGEE 2011

About 150 companies from 25 countries are expected to participate in the 9th International Exhibition for the Energy Industry - POGEE 2011, scheduled from May 17 to 19, 2011 at Karachi Expo Centre. According to organisers here on Wednesday, these countrie
Published 12 May, 2011 12:00am
Most economic woes caused by corruption, says TI Pakistan chief

Most economic woes caused by corruption, says TI Pakistan chief

A major portion of national resources goes into the pockets of government servants, which results in inflation, black marketing and unemployment. This was stated by the Chairman of Transparency International Pakistan while addressing a workshop on 'Role o
Published 12 May, 2011 12:00am
HCCI chief terms journalists important pillar of society

HCCI chief terms journalists important pillar of society

Seth Gohar Ullah President Hyderabad Chamber of Commerce and Industry (HCCI) said that journalists are important pillar of the society, He was addressing at sports festival at Hyderabad Press Club. He said that Sports Festival of HPC will help to promote
Published 12 May, 2011 12:00am
Second Ukrainian relief shipment arrives

Second Ukrainian relief shipment arrives

Ukraine continues to send relief goods for the 2010 flood victims, as the second consignment of humanitarian cargo was received by Brigadier Sajid Naeem, Member Operations, National Disaster Management Authority (NDMA), from Ukraine Ambassador Ihor Pasko
Published 12 May, 2011 12:00am
SMEDA Hyderabad signs business plan

SMEDA Hyderabad signs business plan

Ikhtiar Ahmed Khoso, Regional Business Co-ordinator of Small and Medium Enterprise Development Authority (SMEDA), Hyderabad said that SMEDA, Hyderabad has signed a contract for business plan with an investor Ibrahim Rajper. He said that business plan is a
Published 12 May, 2011 12:00am
TAAP condemns grenade attack on Saudi consulate

TAAP condemns grenade attack on Saudi consulate

M Yahya Polani, Chairman Travel Agents Association of Pakistan (TAAP), strongly condemned the grenade attack on the Consulate of Kingdom of Saudi Arabia at Karachi here on Wednesday afternoon and terming it "outrageous and cowardly". Polani emphasised tha
Published 12 May, 2011 12:00am
Mohtasib for improving internal banking controls

Mohtasib for improving internal banking controls

The Banking Mohtasib Pakistan on Wednesday urged for improvement in internal controls of banking system and essential service standards for a healthy and vibrant banking culture in the country.
Published 12 May, 2011 12:00am
Lotte keen on Pakistan market

Lotte keen on Pakistan market

Lotte believes that Pakistan has lot of potential, and if the government extends some facilitation, Lotte will make a commitment to invest another $400 million in the country. This was said by Executive Director Jung Neon Kim of Lotte Pakistan PTA Limited
Published 12 May, 2011 12:00am
Customs seizes 425g heroin

Customs seizes 425g heroin

Pakistan Customs Drug Enforcement Cell - DEC, Karachi Airport Unit recovered and seized 425g heroin concealed in books booked in postal parcel for South Africa. According to details, Customs DEC staff while clearing the outgoing international parcel mails
Published 12 May, 2011 12:00am
US MIDDAY: silver drops seven percent

US MIDDAY: silver drops seven percent

Silver fell more than 7 percent on Wednesday, breaking a three-day rebound from last week's 25 percent decline and dragging gold as crude oil tumbled and after China's industrial output growth eased much more than expected. Silver's losses accelerated as
Published 12 May, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper crumbled to its lowest since December on Wednesday, as signs of a growth slowdown in China signalled sustained softness in demand from the world's largest metals consumer. Selling mounted late in New York as a flight-to-safety bid in the dollar gre
Published 12 May, 2011 12:00am
US MIDDAY: grains plunge

US MIDDAY: grains plunge

US grain futures tumbled on Wednesday, with corn falling to its lowest level in more than a month, as a US government report eased concerns over extremely tight supplies and cut export forecasts. Wheat snapped a three-day winning streak as the US Departme
Published 12 May, 2011 12:00am
US MIDDAY: sugar, coffee tumble

US MIDDAY: sugar, coffee tumble

Arabica coffee futures closed at a 5-week low on Wednesday, falling more than 11 percent from the 34-year high reached May 3, on long liquidation as the commodity complex saw another sell-off. The key July raw sugar contract sank 0.93 cent, or 4.3 percent
Published 12 May, 2011 12:00am
Gold slides in Europe

Gold slides in Europe

Gold broke a three-day rally to fall on Wednesday, under pressure from a rebound in the dollar and a broad decline in other commodities, although potential demand growth from China was expected to stem any severe slides. Data from China, a major consumer
Published 12 May, 2011 12:00am
Gold, silver up in Asia

Gold, silver up in Asia

Gold firmed a touch and silver rose more than 2 percent on Wednesday, as concerns about China's high inflation and waning economic growth are seen buoying interest in precious metals. Spot gold rose by half a percent to $1,522.96 an ounce by 0615 GMT, bui
Published 12 May, 2011 12:00am
US gold, silver rise

US gold, silver rise

Gold and silver prices rose for a third straight session on Tuesday after last week's sell-off, boosted by intense fighting in Libya, uncertainty about debt-laden Greece and the rising cost of oil and grain. Spot gold gained 0.2 percent to $1,516.81 an ou
Published 12 May, 2011 12:00am
Gasoline slump drags oil prices to second big drop

Gasoline slump drags oil prices to second big drop

Oil prices tumbled over 4 percent on Wednesday after an unexpected rise in gasoline stocks amid slowing demand sent prices into a tailspin, triggering a five-minute halt in trade and fuelling the second big commodities sell-off in a week. The momentum of
Published 12 May, 2011 12:00am
Liffe sugar and coffee down

Liffe sugar and coffee down

Liffe August white sugar closed $18.20 lower at $594.40 a tonne on Wednesday, tracking a broad-based setback in global commodity markets linked partly to slowing growth in China. Liffe July robusta coffee ended $71 lower at $2,514 a tonne, also dragged lo
Published 12 May, 2011 12:00am
US soyaneans higher

US soyaneans higher

US soyabean ended higher Tuesday, but gains were trimmed late in the day as traders evened positions ahead of the release on Wednesday of the USDA's May supply/demand report, traders said. Soyabeans were 7 percent planted, even with trade estimates but do
Published 12 May, 2011 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Key Tokyo rubber futures settled up 1.2 percent on Wednesday and recovered to the level seen before last week's selloff, tracking gains in Shanghai, but the market later lost momentum on signs the Chinese economy might be cooling. The key Tokyo Commodity
Published 12 May, 2011 12:00am
New York sugar surges

New York sugar surges

ICE sugar futures vaulted to settle up 4.3 percent on Tuesday, in their biggest one-day surge this year, fuelled mainly by a strong rebound after last week's steep losses and on concern about top grower Brazil's late crop. Coffee futures finished lower af
Published 12 May, 2011 12:00am
Malaysian palm oil stays higher

Malaysian palm oil stays higher

Malaysian palm oil futures extended gains for a third day on Wednesday ahead of a US agriculture report that may show tighter grains and oilseeds supply in the months to come. The US Department of Agriculture May supply and demand report is expected to co
Published 12 May, 2011 12:00am
Copper crumbles

Copper crumbles

Copper fell to its lowest since December last year on Wednesday after data from China suggested a cooling economy and potentially less demand from the world's largest consumer, but analysts say growth is still strong. A generally firmer dollar across a ba
Published 12 May, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Copper prices fell on Wednesday after the release of slightly-higher-than-expected Chinese inflation data, while fears of the euro debt crisis weighed. The most-active July copper contract on the Shanghai Futures Exchange fell 1.1 percent to 66,340 yuan a
Published 12 May, 2011 12:00am
US copper up

US copper up

Copper ended up for a third straight day on Tuesday, extending a bounce from last week's five-month low, as robust Chinese and US economic data restored some of last week's fleeting confidence and risk appetite. In New York, the July COMEX copper contract
Published 12 May, 2011 12:00am
New York cotton lower as fresh sell-off weighs

New York cotton lower as fresh sell-off weighs

US cotton futures reeled from investor sales to finish lower Wednesday as another round of liquidation hit the commodities sector, analysts said. The key July cotton contract on ICE Futures US dropped 1.10 cents to settle at $1.503 per lb, dealing from $1
Published 12 May, 2011 12:00am
PSDP 2010-11: Rs 1481 billion required to complete 236 projects

PSDP 2010-11: Rs 1481 billion required to complete 236 projects

A total amount of Rs 1481 billion is required in future to complete 236 projects budgeted in PSDP 2010-11 out of 540 projects. Minister for Finance, Revenue and Planning and Development Dr Abdul Hafeez Sheikh said that total 540 projects costing Rs 2516 b
Published 12 May, 2011 12:00am
NHA working on over 1,400 roads and bridges: Senate told

NHA working on over 1,400 roads and bridges: Senate told

National Highway Authority (NHA) is working on over 1400 roads and bridges project across the country to provide a reliable road network at a cost of Rs 144 billion. This was informed by Minister for Communications Arbab Aalamgir Khan while responding a q
Published 12 May, 2011 12:00am
68 kids recovered from custody of fake NGO: National Assembly told

68 kids recovered from custody of fake NGO: National Assembly told

Parliamentary Secretary for Interior Roy Ghulam Mujtaba Kharal on Wednesday said that Lahore Police had recovered 68 children from illegal custody of a fake NGO. He said this while replying to calling attention notice in the National Assembly. He said as
Published 12 May, 2011 12:00am
Indian water resources team arrives

Indian water resources team arrives

An eight-member Indian delegation led by Secretary Water Resources Dharuv Vijaysingh arrived here on Wednesday. Indian Water Commissioner Auranga Nathan also accompanied the delegation. Member (Water) Wapda Syed Raghib Ali Shah and Chairman Indus Water Tr
Published 12 May, 2011 12:00am
Three killed in different mishaps

Three killed in different mishaps

At least three persons were killed in different mishaps at various parts of the metropolis here on Wednesday. According to details, a man was stabbed to death near Nipa Chowrangi within the limits of Gulshan Iqbal police station. The incident took place n
Published 12 May, 2011 12:00am
National Assembly passes 'The Carriage by Air Bill 2010'

National Assembly passes 'The Carriage by Air Bill 2010'

The National Assembly Wednesday passed "The Carriage by Air Bill 2010". Federal Minister for Water and Power Syed Naveed Qamar moved the Bill in the Lower House of the Parliament. Zahid Ahmed of PML-N asked for minor amendment in the bill which was not op
Published 12 May, 2011 12:00am
Law for textile industry promotion to be introduced: secretary

Law for textile industry promotion to be introduced: secretary

The Federal Secretary for Textile Industry, Shahid Rashid, said here on Tuesday that the present government is introducing a textile industry (development, promotion and standards) law for dealing with production and export of textiles, including ancillar
Published 12 May, 2011 12:00am
Budget for armed forces be increased: MoD

Budget for armed forces be increased: MoD

The Ministry of Defence has requested that budget for the armed forces should be increased from existing Rs 442 billion to Rs 524 billion in the next fiscal year, 2011-12, it was learnt. Sources said that a detailed briefing was given by representatives o
Published 12 May, 2011 12:00am
Abbottabad attack: PML-N seeks setting up of judicial commission

Abbottabad attack: PML-N seeks setting up of judicial commission

Pakistan Muslim League-Nawaz (PML-N) on Wednesday also demanded of the government on the floor of the National Assembly to constituted a high level judicial commission to investigate into the May 2 Abbottabad incident, in which US troops killed Osama bin
Published 12 May, 2011 12:00am
Government trying to bring down fiscal deficit: National Assembly told

Government trying to bring down fiscal deficit: National Assembly told

Minister of State for Production Khawaja Sheraz Mahmood on Wednesday said that the government is trying to bring fiscal deficit to 5.5 percent of Gross Domestic Product (GDP) at the end of the current financial year. Responding to various questions of the
Published 12 May, 2011 12:00am
Obama approval hits 60 percent

Obama approval hits 60 percent

President Barack Obama's approval rating has hit its highest point in two years 60 percent and more than half of Americans now say he deserves to be re-elected, according to an Associated Press-GfK poll taken after US forces killed al Qaeda leader Osama b
Published 12 May, 2011 12:00am
US boosts 'cyber defence' aid for Iran activists

US boosts 'cyber defence' aid for Iran activists

The United States is ramping up efforts to help anti-government activists in Iran skirt the government's mobile telephone and Internet surveillance and censorship, a top US official said Wednesday. "We're going to do that quickly, and it's in part to coun
Published 12 May, 2011 12:00am
Burt Reinhardt, early CNN president, dies

Burt Reinhardt, early CNN president, dies

Burt Reinhardt, one of CNN's first presidents and a television pioneer who is credited with helping to build the global news network in its formative years, died at his home near Atlanta on Tuesday. He was 91. Reinhardt suffered from a series of strokes b
Published 12 May, 2011 12:00am
Israel revokes residency of 140,000 West Bankers

Israel revokes residency of 140,000 West Bankers

Israel quietly revoked the residency of 140,000 Palestinians living in the West Bank when they left to travel abroad in the years after the 1967 Six Day War, a rights group said on Wednesday. According to official documents obtained by HaMoked, Centre for
Published 12 May, 2011 12:00am
Worried on China, US seeks rules in space

Worried on China, US seeks rules in space

The United States said Wednesday it wanted to set guidelines with China on the use of space, voicing worries that the Asian power is increasingly able to destroy or jam satellites. China stunned the United States in 2007 by becoming the third country to s
Published 12 May, 2011 12:00am
Indian court rejects call for harsh Bhopal penalty

Indian court rejects call for harsh Bhopal penalty

India's Supreme Court rejected an appeal Wednesday to reinstate stronger charges against seven people convicted of negligence in connection with the 1984 toxic gas leak in Bhopal that killed an estimated 15,000 people. The leak at a Union Carbide plant, t
Published 12 May, 2011 12:00am
EU says nuclear talks with Iran again in limbo

EU says nuclear talks with Iran again in limbo

The European Union cast doubt Wednesday on hopes of a quick resumption of stalled nuclear talks with Iran, saying a message from Tehran to kick-start the negotiations offered nothing new. While Iran announced it had sent a letter Tuesday to EU foreign pol
Published 12 May, 2011 12:00am
Iran gets another nuclear fuel batch from Russia: TV

Iran gets another nuclear fuel batch from Russia: TV

Iran has received another shipment of nuclear fuel from Russia for use at its Bushehr nuclear power plant, the Arabic-language al Alam channel quoted an official as saying on Wednesday. "The shipments were transferred to Iran from Russia by plane in three
Published 12 May, 2011 12:00am
Russia backs US right to kill Osama

Russia backs US right to kill Osama

Russia on Wednesday backed the United States' right to hunt down and kill al Qaeda chief Osama bin Laden as its leaders prepared to holds talks with visiting Pakistani President Asif Ali Zardari. Russia Foreign Minister Sergei Lavrov indicated in an inter
Published 12 May, 2011 12:00am
Earthquake rocks Spanish town, kills six

Earthquake rocks Spanish town, kills six

A rare earthquake rocked an ancient town in south-eastern Spain on Wednesday causing houses to collapse, damaging historic churches and public buildings and killing at least six people. Some reports said the magnitude 5.3 earthquake sent tremors through t
Published 12 May, 2011 12:00am
Syrian tanks shell towns, 19 killed

Syrian tanks shell towns, 19 killed

Syrian tanks shelled residential districts in two towns on Wednesday and at least 19 people were killed across the country, rights campaigners said, as President Bashar al-Assad's forces fought to crush a seven-week uprising. Assad, fighting the most seri
Published 12 May, 2011 12:00am
Rebels take control of Misrata airport

Rebels take control of Misrata airport

Libyan rebels said they took control of Misrata airport in heavy fighting with forces loyal to Muammar Qadhafi on Wednesday and rejected a United Nations call for a cease-fire. The rebels are fighting to end Qadhafi's 41 years in power, but the war has re
Published 12 May, 2011 12:00am
Indian Prime Minister to visit Kabul offering more aid

Indian Prime Minister to visit Kabul offering more aid

India's prime minister is heading to Afghanistan to reassert New Delhi's commitment to help stabilise the war-torn country, a top government official said Wednesday. Prime Minister Manmohan Singh's trip comes as the US faces increasing pressure to withdra
Published 12 May, 2011 12:00am
US names Haqqani commander to terrorist list

US names Haqqani commander to terrorist list

The United States on Wednesday designated a leader of the al Qaeda-linked Haqqani network to a list of people sanctioned for involvement or support of terrorist organisations. Badruddin Haqqani is the son of network founder Jalaluddin Haqqani and the brot
Published 12 May, 2011 12:00am
Bahrain oil company fires 300 workers over protests

Bahrain oil company fires 300 workers over protests

State-run Bahrain Petroleum Co (Bapco) has fired nearly 300 employees for being absent from work when pro-democracy protests paralysed much of the kingdom, the energy minister was reported as saying by the official state news agency. They were absent duri
Published 12 May, 2011 12:00am
ICC calls for review system in all internationals

ICC calls for review system in all internationals

The controversial Decision Review System (DRS) should be used in all international matches, the cricket committee of the International Cricket Council recommended on Wednesday. "The committee, while recognising the need to take account of existing (televi
Published 12 May, 2011 12:00am
Committee calls for World Cup qualifiers

Committee calls for World Cup qualifiers

Non-Test nations should be given the chance to qualify for the World Cup, the cricket committee of the International Cricket Council (ICC) said here on Wednesday. Under plans announced during an ICC summit in Mumbai last month, participation at the 2015 a
Published 12 May, 2011 12:00am
FIH showers tournaments on India, eyes Brazil

FIH showers tournaments on India, eyes Brazil

The International Hockey Federation (FIH) has awarded India several elite events, including an IPL cricket-style professional league, and pledged to raise the game's profile in soccer-dominated Brazil. FIH President Leandro Negre said on Wednesday that In
Published 12 May, 2011 12:00am
First PTBF Banking Bowling tournament held

First PTBF Banking Bowling tournament held

1st PTBF Ranking Bowling Tournament was organised and managed by Royal Rodale Club in its 12 lanes Brunswick technology bowling alley with all parameters of international standards, recently. More than 40 bowling players from different cities of Pakistan
Published 12 May, 2011 12:00am
Ronaldo hat-trick keeps Barca waiting for title

Ronaldo hat-trick keeps Barca waiting for title

Cristiano Ronaldo scored a hat-trick to lead Real Madrid to a 4-0 home win over Getafe on Tuesday, denying leaders Barcelona the chance to win the La Liga title without kicking a ball. Real cut the lead on their arch-rivals back to five points with two ga
Published 12 May, 2011 12:00am
Sultan Azlan Shah Cup: Pakistan see off India, Australia march on

Sultan Azlan Shah Cup: Pakistan see off India, Australia march on

Asian champions Pakistan came from behind to destroy rivals and joint-holders India 3-1 with a masterly second-half performance on Wednesday in the Sultan Azlan Shah Cup. Earlier, World Champions Australia proved they are the team to beat with a well-craf
Published 12 May, 2011 12:00am
Indian board slaps down Warne over pitch row

Indian board slaps down Warne over pitch row

India's cricket board has dismissed criticism by Australian spin great Shane Warne over the playing surface selected for a crunch Indian Premier League game his team lost. Warne, captain of the Rajasthan Royals, had hinted at foul play over a decision to
Published 12 May, 2011 12:00am
FIFA seeks evidence in fresh corruption scandal

FIFA seeks evidence in fresh corruption scandal

FIFA on Wednesday asked England's Football Association and a newspaper to provide evidence of fresh allegations of corruption at the top of world football, saying they were of "extreme concern". The move followed widespread media reports in Britain on Wed
Published 12 May, 2011 12:00am
Nadal survives scare as dominant Djokovic cruises

Nadal survives scare as dominant Djokovic cruises

World number one and undisputed clay king Rafael Nadal survived a scare on Wednesday at the clay Rome Masters as he overcame a sloppy start to beat Italian qualifier Paolo Lorenzi 6-7, 6-4, 6-0. But there were no such difficulties for man of the moment No
Published 12 May, 2011 12:00am
Sharapova breezes as Murray battles through

Sharapova breezes as Murray battles through

Former Wimbledon champion Maria Sharapova made short work of her second round opponent at the Rome International clay court event on Tuesday, thrashing Ekaterina Makarova 6-1, 6-1. Men's world number four Andy Murray had a very different experience as he
Published 12 May, 2011 12:00am
Swiss franc up versus euro

Swiss franc up versus euro

The Swiss franc inched up versus the euro on Wednesday as speculation about another Greek aid package pushed investors towards the safe-haven currency. Analysts at St Galler KB said the Swiss franc might see a short-term correction versus the euro. At 073
Published 12 May, 2011 12:00am
Money markets: markets bring forward BoE hike expectations

Money markets: markets bring forward BoE hike expectations

Money markets re-focussed on the chances of a Bank of England interest rate hike this year after it raised its medium-term inflation forecast on Wednesday. Downbeat news on first quarter growth in recent weeks had caused markets to push back their expecta
Published 12 May, 2011 12:00am
Won, ringgit rise

Won, ringgit rise

The South Korean won rose on Wednesday as exporters and speculators took advantage of recent corrections in regional currencies as commodities and stocks rebounded amid a sustained bullish outlook for emerging Asian currencies. Regional currencies cut som
Published 12 May, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee rose on Wednesday, helped by a strong euro, hopes of robust dollar inflows towards a share sale, and as firm global stocks pulled up domestic equities. The partially convertible rupee ended at 44.69/70 per dollar, stronger than Tuesday's
Published 12 May, 2011 12:00am
Australian gains, New Zealand dollar falls

Australian gains, New Zealand dollar falls

The Australian dollar rose to a one-week high against the greenback on Wednesday, underpinned by strength in stocks and commodity prices, but slightly disappointing Chinese data knocked the currency off the session peak. The Aussie dollar climbed to a hig
Published 12 May, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 73.12/73.18 (previous 73.10/73.20). Call Money Rates: 5.00-6.75 percent (previous 4.75-6.75 percent).
Published 12 May, 2011 12:00am
Euro rallies in New York

Euro rallies in New York

The euro edged higher against the US dollar and Japanese yen on Tuesday, though it struggled to gain momentum on persistent fears that Greece may have to restructure its debt. Renewed worries about debt troubles in the eurozone's peripheral economies have
Published 12 May, 2011 12:00am
Early trade in New York: Euro remains vulnerable to Greece worries

Early trade in New York: Euro remains vulnerable to Greece worries

The euro fell to a three week low on Wednesday and is likely to remain pressured by ongoing concerns about whether euro zone officials will provide timely financial aid to debt-laden Greece and Portugal. In Greece, police fired teargas at dozens of youths
Published 12 May, 2011 12:00am
Euro slips in London

Euro slips in London

The euro slipped on Wednesday, with risks to the downside on mounting uncertainty over whether euro zone officials would provide timely financial aid to debt-laden Greece and Portugal. Sterling hit a 6-week high against the euro after the Bank of England
Published 12 May, 2011 12:00am
Euro clings to gains in Asia

Euro clings to gains in Asia

The euro clung to its gains of the past few days on Wednesday, helped by stabilising commodity prices and speculation about another Greek aid package, but a further foray to the upside is seen filled with obstacles such as the chance of negative news on t
Published 12 May, 2011 12:00am
Sterling rallies

Sterling rallies

Sterling climbed to a six-week high against the euro on Wednesday after the Bank of England raised its inflation forecasts, leading markets to bring forward the possible timing of an interest rate hike. A broadly weaker euro fell over 1 percent on the day
Published 12 May, 2011 12:00am
Yuan falls

Yuan falls

The yuan finished down against the dollar on Wednesday, but traded firmer than the record high mid-point set by the People's Bank of China on expectations it may continue its ascent after stronger-than-expected inflation. Spot yuan closed at 6.4930 versus
Published 12 May, 2011 12:00am
FTSE ends below 6,000 mark

FTSE ends below 6,000 mark

Commodity and banking stocks dragged Britain's FTSE 100 below the 6,000 level on Wednesday, with these sectors pressured by Greece's debt problems and uncertainty over global economic growth. London's blue chip index closed down 42.89 points, or 0.7 perce
Published 12 May, 2011 12:00am
Solid earnings bolster European shares

Solid earnings bolster European shares

European shares rose on Wednesday, boosted by solid corporate earnings, although fund managers said short-term index moves would prove volatile until the eurozone peripheral debt situation is resolved. The pan-European FTSEurofirst 300 index of top shares
Published 12 May, 2011 12:00am
Australian shares rise

Australian shares rise

Australian stocks rose 1.2 percent on Wednesday, powered by a rebound in the resources sector from last week's pummelling, while Australia's new budget bill, unveiled late on Tuesday, had little impact. Top miners BHP Billiton and Rio Tinto gained 1.7 per
Published 12 May, 2011 12:00am
Hong Kong and China shares down

Hong Kong and China shares down

China shares edged lower on Wednesday as high inflation and tighter liquidity kept investors cautious, while a slide in HSBC pulled the Hong Kong's broader market lower and may keep the benchmark below its 100-day moving average in the near term.
Published 12 May, 2011 12:00am
Southeast Asian stocks climb higher

Southeast Asian stocks climb higher

Southeast Asian stock markets advanced further on Wednesday, with banking stocks leading the pack because of the positive loan growth outlook, and investors also picked selected energy and resource companies with good earnings prospects. Most markets saw
Published 12 May, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares ended up 1.3 percent on Wednesday, lifted by automakers and technology issues including LG Electronics and Hyundai Motor. The Korea Composite Stock Price Index finished up 27.46 points at 2,166.63 points, snapping a four-session selling strea
Published 12 May, 2011 12:00am
Treasuries end lower

Treasuries end lower

US Treasury debt prices ended lower on Tuesday, snapping a seven-day winning streak as dealers cut prices before 10- and 30-year Treasury auctions. But recent commodity price declines, some weaker economic data, and concerns about the eurozone restrained
Published 12 May, 2011 12:00am
Treasuries end lower

Treasuries end lower

US Treasury debt prices ended lower on Tuesday, snapping a seven-day winning streak as dealers cut prices before 10- and 30-year Treasury auctions. But recent commodity price declines, some weaker economic data, and concerns about the eurozone restrained
Published 12 May, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks ended little changed on Wednesday, consolidating recent gains that have made some shares expensive and ahead of an expected slowdown in sales growth at top technology companies. The main TAIEX index closed down 2.88 points at 9,020.40. The e
Published 12 May, 2011 12:00am
Utilities lift Wall Street as leadership shifts

Utilities lift Wall Street as leadership shifts

US stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand. For now the equity market is filtering out potential prob
Published 12 May, 2011 12:00am
Wednesday's midday trade: stocks fall

Wednesday's midday trade: stocks fall

US stocks faltered on Wednesday after a three-day rally as a strengthening dollar and data showing a rise in US fuel supplies sent crude oil prices lower, hurting energy stocks. The euro dropped to a fresh three-week low against the dollar as investors un
Published 12 May, 2011 12:00am
Nikkei average gains

Nikkei average gains

Japan's Nikkei rose on Wednesday for a second straight day, boosted by gains in companies that provided positive outlooks for the current business year such as Orix Corp and NEC Corp , while investors largely shrugged off slightly stronger-than-expected i
Published 12 May, 2011 12:00am
Indian shares up

Indian shares up

Indian shares ticked 0.4 percent higher on Wednesday, buoyed by firm world equities, but the gains lacked conviction as foreign funds mostly passed up Indian equities on concerns rising interest rates could stifle the pace of economic growth. Financials r
Published 12 May, 2011 12:00am
Middle East markets: Qatar bourse at new one-month high

Middle East markets: Qatar bourse at new one-month high

Qatar's bourse surged to a new one-month high on Wednesday on hopes of a possible index upgrade, and Egypt rose for a third day after blue chip Orascom Construction Industries beat forecasts. While most regional markets edged up, Renaissance Services weig
Published 12 May, 2011 12:00am
AIG to sell almost $9 billion in shares

AIG to sell almost $9 billion in shares

The US government and AIG announced a plan Wednesday to sell around $9 billion worth of shares in the bailed-out insurance giant, speeding the firm back toward private ownership. The treasury will sell 200 million shares and AIG 100 million shares for a t
Published 12 May, 2011 12:00am
AIG to sell almost $9 billion in shares

AIG to sell almost $9 billion in shares

The US government and AIG announced a plan Wednesday to sell around $9 billion worth of shares in the bailed-out insurance giant, speeding the firm back toward private ownership. The treasury will sell 200 million shares and AIG 100 million shares for a t
Published 12 May, 2011 12:00am
Tax burden increasing for workers: OECD

Tax burden increasing for workers: OECD

The average tax and social security burdens on families rose in most countries last year, reversing a trend of declining tax burdens, the OECD said in a report Wednesday. The annual report called for the emphasis to go more on indirect taxes and on broade
Published 12 May, 2011 12:00am
Toyota vows to stay in Japan as quake hits fourth quarter

Toyota vows to stay in Japan as quake hits fourth quarter

Japan's biggest earthquake on record hit Toyota Motor's quarterly profits harder than expected, prompting renewed calls for the government to do more to support Toyota's pledge to keep building large numbers of cars in Japan. The 9.0 magnitude earthquake
Published 12 May, 2011 12:00am
Bank of England warns that inflation could hit five percent

Bank of England warns that inflation could hit five percent

The Bank of England warned on Wednesday that British inflation could reach 5.0 percent this year because of soaring domestic energy costs, high oil prices and the government's sales tax rise. In a quarterly report, the central bank also lowered its foreca
Published 12 May, 2011 12:00am
UK launches diplomatic blitz in emerging economies

UK launches diplomatic blitz in emerging economies

Britain will withdraw officials from Afghanistan and Europe to fund a diplomatic blitz in China and India aimed at securing new trading ties with the world's emerging economic powers, the country's government said Tuesday. Foreign Secretary William Hague
Published 12 May, 2011 12:00am
British recovery choppy: Osborne

British recovery choppy: Osborne

Britain's road to economic recovery will be rocky but the coalition government is as committed as ever to slashing a record budget deficit, finance minister George Osborne said on Wednesday. Osborne, speaking to business leaders in London, said the govern
Published 12 May, 2011 12:00am
Greeks strike over cuts, EU goes slow on new aid

Greeks strike over cuts, EU goes slow on new aid

Greek police clashed with stone-hurling youths and thousands protested against austerity in Athens on Wednesday as EU and IMF envoys began talks with the government on stepping up fiscal reforms. After bailing out Greece one year ago, European governments
Published 12 May, 2011 12:00am
Merkel backs Draghi, deciding ECB presidency race

Merkel backs Draghi, deciding ECB presidency race

German Chancellor Angela Merkel backed Mario Draghi on Wednesday to be the next European Central Bank president, clearing the way for the Italian to succeed France's Jean--Claude Trichet from November Merkel's spokesman said she stood ready to support Dra
Published 12 May, 2011 12:00am
HSBC in $3.5 billion cost-cutting overhaul

HSBC in $3.5 billion cost-cutting overhaul

HSBC's new boss is to cut back in retail banking and may sell its US credit card arm in a bid to cut $3.5 billion in costs and revive flagging profits. Europe's biggest bank faces an urgent need for action as over two-fifths of its businesses are not deli
Published 12 May, 2011 12:00am
US rating agencies win dismissal of lawsuits

US rating agencies win dismissal of lawsuits

The three major US credit rating agencies won the dismissal of lawsuits seeking to hold them liable as "underwriters" for helping banks structure securities transactions in order to achieve desired ratings. The 2nd US Circuit Court of Appeals in New York
Published 12 May, 2011 12:00am
BofA working through mortgage problems: CEO

BofA working through mortgage problems: CEO

Bank of America Corp is working to improve profits by reducing its number of problem mortgages and cutting other costs, Chief Executive Brian Moynihan told shareholders on Wednesday. Moynihan, speaking at the company's annual meeting in downtown Charlotte
Published 12 May, 2011 12:00am
US exports hit record high, trade gap widens

US exports hit record high, trade gap widens

US exports hit a record high in March, buoyed by the weak dollar and strengthening global demand as US trade returned to levels last seen before the global financial crisis. US exports grew 4.6 percent in March to $172.7 billion, surpassing the record set
Published 12 May, 2011 12:00am
China's economy cools, limiting need for tighter policy

China's economy cools, limiting need for tighter policy

China's industrial output growth eased much more than expected in April to suggest the world's second-biggest economy is cooling, reducing the need for further aggressive monetary policy tightening even as inflation remains stubbornly high. Consumer infla
Published 12 May, 2011 12:00am
Over a billion tons of food wasted every year: UN

Over a billion tons of food wasted every year: UN

Around a third of the food produced in the world every year - around 1.3 billion tons - gets lost or wasted, the UN's Food and Agriculture Organisation said on Wednesday. "Given the limited availability of natural resources it is more effective to reduce
Published 12 May, 2011 12:00am
Iran hikes budget by 31 percent

Iran hikes budget by 31 percent

Iran has adopted a $484 billion budget for the year to March 2012, an increase of 31 percent over the previous year, on the back of rising oil prices and domestic subsidy cuts, reports said Wednesday. The parliament adopted the budget after a delay of nea
Published 12 May, 2011 12:00am
Opec sees enough oil supply, holds demand view

Opec sees enough oil supply, holds demand view

Opec held its forecast for world oil demand steady in 2011 on Wednesday and maintained its view that oil supplies are adequate despite the loss of Libyan barrels as its members and rivals pump more crude. In its monthly report, Opec said it expected world
Published 12 May, 2011 12:00am
Moong Burma sheds Rs 250 in modest trade on grain market

Moong Burma sheds Rs 250 in modest trade on grain market

Modest trading was seen on the wholesales grain market on Wednesday as needy buyers indulged in purchasing to meet the urgent requirements, dealers said. On the cereal side, moong Burma lost Rs 250 to Rs 8250, masoor Canada was quoted at Rs 6800, masoor d
Published 12 May, 2011 12:00am
Cautious buying seen on cotton market

Cautious buying seen on cotton market

Cautious buying was seen on the cotton market on Wednesday as mills and spinners did purchasing but just to meet the urgent needs, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 8,500, they said. In Sindh and Punjab
Published 12 May, 2011 12:00am
Oil cake market rates

Oil cake market rates

May vaida was up while the July contract was unchanged on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida that had closed at Rs 1333.20 opened with a gain of 30 paisa at Rs 1333.50.The July contract wh
Published 12 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 97,360 tonnes of cargo including 65,561 tonnes of import cargo, 31,799 tonnes of export cargo and 4,455 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 65,561 tonnes compr
Published 12 May, 2011 12:00am
Indonesia's coffee output seen down 15-20 percent

Indonesia's coffee output seen down 15-20 percent

Indonesia's coffee output may fall by 15-20 percent in the 2010/11 (October-September) crop year to as low as 520,000 tonnes as rains damage coffee cherries, the Indonesian Coffee Exporters Association said on Wednesday. The estimate was similar to a fore
Published 12 May, 2011 12:00am
Oil World raises Brazil, Argentine soyabean crops forecasts

Oil World raises Brazil, Argentine soyabean crops forecasts

Hamburg-based oilseeds analyst Oil World on Tuesday raised its forecasts of 2011 soyabean crops in Brazil and Argentina by a combined 1 million tonnes as harvest conditions were better than expected in both countries. Oil World now forecasts the 2011 soya
Published 12 May, 2011 12:00am
Brazil's CS sugar output seen up, ethanol down

Brazil's CS sugar output seen up, ethanol down

Sugar output in Brazil's main center-south cane producing region will rise to record volume this season, despite a drop in yields caused by dry weather in 2010, the government crop supply agency Conab said Tuesday. But ethanol output is expected to fall a
Published 12 May, 2011 12:00am
Ukraine expands grain sowing area

Ukraine expands grain sowing area

Ukraine will expand its grain sowing area by about 3 percent to 15.6 million hectares in 2011, Agriculture Minister Mykola Prysyazhnyuk said on Wednesday. He said an increase in the maize area by 17 percent to 3.2 million hectares was the main reason for
Published 12 May, 2011 12:00am
India's April vegetable oil imports seen up 15.5 percent

India's April vegetable oil imports seen up 15.5 percent

India's vegetable oil imports may have risen by 15.5 percent in April because of lower local supplies after the end of the rapeseed harvest season, a Reuters survey showed on Wednesday, signalling the first rise in overseas purchases since December.
Published 12 May, 2011 12:00am
New York cotton

New York cotton

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

Published 12 May, 2011 12:00am
New York cotton

New York cotton

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

Published 12 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 12 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 12 May, 2011 12:00am
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