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Archive - 2011-05-28
PM backs Rubalcaba to lead party
Europe

PM backs Rubalcaba to lead party

MADRID : Spain 's governing Socialists chose on Saturday a veteran candidate to lead their party in a parliamentary ele
Published 28 May, 2011 01:09pm
Obama lauds Polish democracy
Europe

Obama lauds Polish democracy

WARSAW : President Barack Obama lauded Poland on Saturday as a key U.S. ally whose democracy and economic prosperity
Published 28 May, 2011 11:58am
Sindh Assembly to meet on June 3
Top News

Sindh Assembly to meet on June 3

KARACHI : Sindh Governor Ishrat- ul- Ebad Khan has summoned the Sindh Assembly to meet here on June 3 at 9.30 a.m.
Published 28 May, 2011 09:22am
Egypt reopens Rafah border with Gaza
Top News

Egypt reopens Rafah border with Gaza

RAFAH: Egypt on Saturday reopened its Rafah border crossing with Gaza, allowing people to cross freely for the first tim
Published 28 May, 2011 08:17am
IMF faces dilemma with Greece
Top News

IMF faces dilemma with Greece

WASHINGTON : The International Monetary Fund faces a tough dilemma with Greece, tugged between bending its standards to
Published 28 May, 2011 06:12am
India, Pakistan meet on glacier dispute
Top News

India, Pakistan meet on glacier dispute

NEW DELHI: Top defence officials from India and Pakistan kicked off talks on Monday to discuss a disputed Himalayan g
Published 28 May, 2011 06:06am
Chennai eye second IPL title
Cricket

Chennai eye second IPL title

CHENNAI: Defending champions Chennai Super Kings will be banking on home advantage when they take on a formidable Roy
Published 28 May, 2011 04:40am
Six TTP activists arrested
Top News

Six TTP activists arrested

KARACHI : At least 6 accused allegedly associated with Tehreek-e-Taliban Pakistan (TTP) were arrested here on Saturday b
Published 28 May, 2011 12:00am
India, France discuss pending fighter jet deals

India, France discuss pending fighter jet deals

France's defence minister made a final pitch for his country's fighter jet on a visit to India on Friday, hoping to secure a lucrative contract with the world's biggest arms importer. India says it's nearing a decision on which fighter jets it will buy, h
Published 28 May, 2011 12:00am
THE RUPEE: dollar slips

THE RUPEE: dollar slips

Inflows helped the rupee to recover its gains against dollar on the currency market on Friday, experts said. The rupee appreciated by 18 paisa in relation to dollar for buying and selling at 85.62 and 85.67, they said.
Published 28 May, 2011 12:00am
Qamar succeeds in getting Kazi appointed as secretary!

Qamar succeeds in getting Kazi appointed as secretary!

Minister for Water and Power, Naveed Qamar is said to have succeeded in getting Imtiaz Kazi appointed as secretary water and power, after a meeting with Prime Minister Yousaf Raza Gilani on May 26, 2011. Kazi has spent some time in the ministry of petrole
Published 28 May, 2011 12:00am
THE RUPEE: dollar slips

THE RUPEE: dollar slips

Inflows helped the rupee to recover its gains against dollar on the currency market on Friday, experts said. The rupee appreciated by 18 paisa in relation to dollar for buying and selling at 85.62 and 85.67, they said.
Published 28 May, 2011 12:00am
Qamar succeeds in getting Kazi appointed as secretary!

Qamar succeeds in getting Kazi appointed as secretary!

Minister for Water and Power, Naveed Qamar is said to have succeeded in getting Imtiaz Kazi appointed as secretary water and power, after a meeting with Prime Minister Yousaf Raza Gilani on May 26, 2011. Kazi has spent some time in the ministry of petrole
Published 28 May, 2011 12:00am
Qamar succeeds in getting Kazi appointed as secretary!

Qamar succeeds in getting Kazi appointed as secretary!

Minister for Water and Power, Naveed Qamar is said to have succeeded in getting Imtiaz Kazi appointed as secretary water and power, after a meeting with Prime Minister Yousaf Raza Gilani on May 26, 2011. Kazi has spent some time in the ministry of petrole
Published 28 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
May 2011 witnesses $27.25 million FIPI inflow

May 2011 witnesses $27.25 million FIPI inflow

Despite security concerns, a healthy inflow of $27.25 million of foreign investors' portfolio investment (FIPI) was witnessed at the local equity market during May 2011 as compared to an outflow of $7.347 million in April 2011. According to National Clear
Published 28 May, 2011 12:00am
May 2011 witnesses $27.25 million FIPI inflow

May 2011 witnesses $27.25 million FIPI inflow

Despite security concerns, a healthy inflow of $27.25 million of foreign investors' portfolio investment (FIPI) was witnessed at the local equity market during May 2011 as compared to an outflow of $7.347 million in April 2011. According to National Clear
Published 28 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
May 2011 witnesses $27.25 million FIPI inflow

May 2011 witnesses $27.25 million FIPI inflow

Despite security concerns, a healthy inflow of $27.25 million of foreign investors'' portfolio investment (FIPI) was witnessed at the local equity market during May 2011 as compared to an outflow of $7.347 million in April 2011. According to National Clea
Published 28 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (May 27, 2011) and for Saturday (May 28, 2011).
Published 28 May, 2011 12:00am
France indicts two over terror links

France indicts two over terror links

French authorities have indicted two men on suspicion of travelling to Pakistan to attend a terrorist training camp. Judicial and police authorities say the two unidentified French citizens were accused Thursday of ``criminal association with terrorists'
Published 28 May, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
France indicts two over terror links

France indicts two over terror links

French authorities have indicted two men on suspicion of travelling to Pakistan to attend a terrorist training camp. Judicial and police authorities say the two unidentified French citizens were accused Thursday of ``criminal association with terrorists''
Published 28 May, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 24, 2011.

Published 28 May, 2011 12:00am
Plant, machinery import: full adjustment of input tax may be allowed

Plant, machinery import: full adjustment of input tax may be allowed

The government is likely to announce full adjustment of input tax paid on the import or locally purchased capital goods including plant, machinery and equipment to facilitate investment during the upcoming budget 2011-12. Sources told Business Recorder
Published 28 May, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 24, 2011.

Published 28 May, 2011 12:00am
Plant, machinery import: full adjustment of input tax may be allowed

Plant, machinery import: full adjustment of input tax may be allowed

The government is likely to announce full adjustment of input tax paid on the import or locally purchased capital goods including plant, machinery and equipment to facilitate investment during the upcoming budget 2011-12. Sources told Business Recorder
Published 28 May, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 24, 2011.

Published 28 May, 2011 12:00am
Plant, machinery import: full adjustment of input tax may be allowed

Plant, machinery import: full adjustment of input tax may be allowed

The government is likely to announce full adjustment of input tax paid on the import or locally purchased capital goods including plant, machinery and equipment to facilitate investment during the upcoming budget 2011-12. Sources told Business Recorder
Published 28 May, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 28 May, 2011 12:00am
Air India flights grounded over jet fuel woes

Air India flights grounded over jet fuel woes

Cash-strapped Air India was forced to cancel some flights Friday after oil companies refused to give the state-run carrier fuel because of a failure to pay bills. The flagship carrier cancelled at least four flights in southern India after state-owned oil
Published 28 May, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 28 May, 2011 12:00am
Air India flights grounded over jet fuel woes

Air India flights grounded over jet fuel woes

Cash-strapped Air India was forced to cancel some flights Friday after oil companies refused to give the state-run carrier fuel because of a failure to pay bills. The flagship carrier cancelled at least four flights in southern India after state-owned oil
Published 28 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (May 27, 2011).

Published 28 May, 2011 12:00am
Air India flights grounded over jet fuel woes

Air India flights grounded over jet fuel woes

Cash-strapped Air India was forced to cancel some flights Friday after oil companies refused to give the state-run carrier fuel because of a failure to pay bills. The flagship carrier cancelled at least four flights in southern India after state-owned oil
Published 28 May, 2011 12:00am
The Weather

The Weather

The weather report on Friday (May 27, 2011) and the forecast for Saturday (May 28, 2011).

Published 28 May, 2011 12:00am
Australia returns passport to former Gitmo detainee

Australia returns passport to former Gitmo detainee

An Egyptian-born Australian has had his passport returned six years after his release from the US military prison at Guantanamo Bay because he is no longer considered a risk to national security, intelligence officials said Friday. Mamdouh Habib was arres
Published 28 May, 2011 12:00am
Ties with US: apprehensions of people should be removed: Nisar

Ties with US: apprehensions of people should be removed: Nisar

Leader of the Opposition in the National Assembly, Chaudhry Nasir Ali Khan on Friday said that apprehensions of people should be removed to improve ties with the United States. He said "our relations with the United States could be durable only if the peo
Published 28 May, 2011 12:00am
Nuclear weapons are in safe hands, says Shireen Mazari

Nuclear weapons are in safe hands, says Shireen Mazari

Dr Shireen M Mazari, renowned scholar and top security analyst, on Friday negated the pervasive Pakistani phobia that the US might attack country's nuclear arsenal, destroy it or carry the warheads with them. "Pakistan's nuclear weapons are in safe hands
Published 28 May, 2011 12:00am
'Financial literacy, a gateway to progress'

'Financial literacy, a gateway to progress'

In partnership with Kashf Foundation, a leading microfinance institution in Pakistan, the United States Agency for International Development (USAID) through its Entrepreneurs Project has successfully provided "Basic Financial Literacy Training" to more th
Published 28 May, 2011 12:00am
Seafood exports surge 28.64 percent

Seafood exports surge 28.64 percent

Seafood exports from the country surged by 28.64 percent during the first ten months of the current fiscal year as compared to the corresponding period of last year. Exports of fish and fish preparations were recorded at US $233.935 million during July-Ap
Published 28 May, 2011 12:00am
Pakistan's cultural events organised in Seoul

Pakistan's cultural events organised in Seoul

Pakistan's Embassy in Seoul has organised cultural events with the support of local associations, aimed at projecting rich culture and heritage. An event, organised in the South Korean Capital in collaboration with Seoul Global Centre, was participated by
Published 28 May, 2011 12:00am
Competitive prices 25,000 tonnes of wheat sold to Malaysia, Indonesia

Competitive prices 25,000 tonnes of wheat sold to Malaysia, Indonesia

Pakistan sold some 25,000 tonnes of wheat to Malaysia and Indonesia this week on competitive prices, while Indonesia reduced its corn imports from India ahead of domestic crop arrival. Pakistani wheat was traded around $310 a tonne into Asia, one of the m
Published 28 May, 2011 12:00am
Pakistan ranks sixth among high tuberculosis risk countries

Pakistan ranks sixth among high tuberculosis risk countries

Pakistan ranks 6th globally among the 22 high tuberculosis risk countries, and contributes 43 percent of the disease towards the Eastern-Mediterranean region of World Health Organisation (WHO). According to available data, the incidence of TB per 100,000
Published 28 May, 2011 12:00am
Teachers' package upgrading programme in the doldrums

Teachers' package upgrading programme in the doldrums

Teachers of different institutes working under Federal Directorate of Education (FDE) have demanded the government to implement teachers' package, especially of BS-16 and above through Time Scale Promotion Formula (TSPF) before the upcoming budget.
Published 28 May, 2011 12:00am
PGJDC organises Gem Bazaar in Peshawar

PGJDC organises Gem Bazaar in Peshawar

Pakistan Gems and Jewellery Development Company (PGJDC) organised yet another glittering Gem Bazaar in Peshawar at its Gem Exchange, says a press release issued, here on Friday. There were more than 70 exhibitors who participated in the Gem Bazaar who cam
Published 28 May, 2011 12:00am
KBP to issue white paper on corruption of revenue, food departments

KBP to issue white paper on corruption of revenue, food departments

Kissan Board Pakistan (KBP) has said it will issue a white paper on rampant corruption of Revenue and Food departments during the on-going campaign for purchase of four million tons of wheat. KBP said that agents of MNAs and MPAs in connivance with the co
Published 28 May, 2011 12:00am
'Sindh government to increase funds for developmental projects'

'Sindh government to increase funds for developmental projects'

Sindh Information Minister Sharjeel Inam Memon on Friday said that the government will increase funds for development projects in the next fiscal budget. Talking to a private news channel, he said that a 12-member committee has been formed to monitor the
Published 28 May, 2011 12:00am
Government a silent spectator, says Qureshi

Government a silent spectator, says Qureshi

Former Foreign Minister, Makhdoom Shah Mahmood Qureshi has said despite repeated attacks on sensitive installations and blasts at public places, the government's role is mere of a silent spectator as no heed is being paid to improve worsening law and orde
Published 28 May, 2011 12:00am
Major reshuffle in Capital Police

Major reshuffle in Capital Police

In an attempt to make the federal capital crime-free, a high level reshuffle was made in the Capital Police, well-placed sources in Islamabad Police revealed to this scribe here on Friday. Nine Deputy Superintendent of Police (DSP) and Assistant Superinte
Published 28 May, 2011 12:00am
Implementing tobacco laws: ITP to coordinate with authorities

Implementing tobacco laws: ITP to coordinate with authorities

Islamabad Traffic Police (ITP) will completely co-ordinate with the authorities to ensure implementation on tobacco control laws through educating road users and effectively conducting checking in public transport, said Senior Superintendent of Police (Tr
Published 28 May, 2011 12:00am
Hajj corruption case: Supreme Court orders action against FIA official

Hajj corruption case: Supreme Court orders action against FIA official

The Supreme Court on Friday directed the Secretary Establishment Division to initiate disciplinary proceedings against Additional Director General, Federal Investigation Agency (FIA), Syed Javed Bukhari, as well as dissociate him from the current post of
Published 28 May, 2011 12:00am
Major crops register healthy growth

Major crops register healthy growth

Three major crops in Pakistan have registered a healthy growth this year. Sugarcane production has increased by 12 percent, wheat 3.9 percent and maize 4 percent. According to officials at Ministry of Food and Agriculture (Minfa), Pakistan suffered the wo
Published 28 May, 2011 12:00am
Jamaat-e-Islami for implementation of parliament's resolution

Jamaat-e-Islami for implementation of parliament's resolution

Naib Amir of Jamaat-e-Islami Pakistan, Senator Professor Khurshid Ahmad has said the government must implement the resolution of the Parliament in letter and spirit and refuse to submit to the pressures that are being put upon them by Admiral Mullen and U
Published 28 May, 2011 12:00am
Mirwaiz, Yasin Malik put under house arrest

Mirwaiz, Yasin Malik put under house arrest

In Indian Occupied Kashmir, the authorities have put Chairman of All Parties Hurriyet Conference (APHC) Mirwaiz Umar Farooq and Chairman of Jammu and Kashmir Liberation Front (JKLF), Muhammad Yasin Malik under illegal house arrest on Friday. Mirwaiz Umar
Published 28 May, 2011 12:00am
About 97,400 HIV/AIDS patients get registered

About 97,400 HIV/AIDS patients get registered

There are approximately 97,400 cases of registered HIV/AIDS patients however, the concerned authorities of the Ministry of Health (MoH) maintain that this figure is understated for a variety of reasons, well-informed sources told Business Recorder
Published 28 May, 2011 12:00am
Explosives recovered

Explosives recovered

Police recovered 2.5 kilograms explosive materials and remote control device near Police station Ghaffar Goth area of Nasirabad district on Friday. According to the police, acting on a tip off, police found explosive materials which were planted by unknow
Published 28 May, 2011 12:00am
Hangu explosion toll rises to 39

Hangu explosion toll rises to 39

Death toll in Hangu car-bomb explosion has raised to 39 as four more bodies were recovered from the debris of destroyed buildings on Friday. Relief operation continued for the second day and four bodies were recovered from the debris while two succumbed t
Published 28 May, 2011 12:00am
Osama's killing triggered more terrorism: Iftikhar

Osama's killing triggered more terrorism: Iftikhar

Khyber Pakhtunkhwa Minister for Information, Mian Iftikhar Hussein has said that terrorist attacks have increased after the killing of Osama bin Laden as he was the ringleader of terrorists' network. Talking to media during his visit to Hangu after the su
Published 28 May, 2011 12:00am
Sixth meeting of OECD held in Seoul

Sixth meeting of OECD held in Seoul

The 6th meeting of the Asia Network of the Organisation for Economic Co-operation and Development (OECD) on Corporate Governance of State-Owned Enterprises was held in Seoul, South Korea. The event was organised by the OECD jointly with the Korea Institut
Published 28 May, 2011 12:00am
SECP approval for cotton futures trading opposed

SECP approval for cotton futures trading opposed

Pakistan Cotton Forum (PCF) has opposed the approval by SECP to Pakistan Mercantile Exchange Limited (PMEX) for introduction futures trading in cotton. PCF Chairman Muhammad Akbar has expressed serious concerns on restarting cotton futures trading in PMEX
Published 28 May, 2011 12:00am
CJP observes vani, sawara are heinous crime

CJP observes vani, sawara are heinous crime

Chief Justice of Pakistan Iftikhar Muhammad Chaudhry on Friday observed that vani and swara were heinous crime, which must be eradicated from the country. A three-member bench, headed by Chief Justice Iftikhar Muhammad Chaudhry, was hearing a constitution
Published 28 May, 2011 12:00am
First consignment of measles vaccine arrives

First consignment of measles vaccine arrives

The first consignment of two million doses of measles vaccine procured by World Health Organisation for Pakistan Extended Program of Immunisation (EPI) arrived in Islamabad and has been stored in the EPI cold rooms, says a press release received here on F
Published 28 May, 2011 12:00am
Ministry yet to introduce Textile Development Bill

Ministry yet to introduce Textile Development Bill

Textile Ministry is yet to introduce the "Textile Development and Promotion bill" for providing legal cover to textile imports and exports, sources in the Textile Ministry revealed. The objective of the proposed bill was to monitor the implementation of t
Published 28 May, 2011 12:00am
Gang of auto-thieves busted; cars recovered

Gang of auto-thieves busted; cars recovered

The Capital Police have busted a gang of car thieves and recovered seven stolen cars from them besides arresting eight thieves and car receivers. The Anti-Car Lifting Cell (ACLC) of Islamabad Police arrested eight persons including car receivers and auto-
Published 28 May, 2011 12:00am
Khyber Pakhtunkhwa working on people-friendly budget: Bilour

Khyber Pakhtunkhwa working on people-friendly budget: Bilour

The provincial government is concentrating on preparing of a people-friendly budget for upcoming financial year 2011-12, which will bring relief and support to poor and low income segment of society. This was stated by Senior Minister Khyber Pakhtunkhwa a
Published 28 May, 2011 12:00am
Bilawal to be new 'chief' of Zardari tribe

Bilawal to be new 'chief' of Zardari tribe

The President and Co-Chairman of PPP, Asif Ali Zardari has decided to forego the title of 'chief' of the Zardari tribe and to pass on the mantle of tribal leadership to his son Bilawal Bhutto Zardari. This was stated by President's spokesperson Farhatulla
Published 28 May, 2011 12:00am
PTCL Broadband marks four years of service

PTCL Broadband marks four years of service

Pakistan Telecommunication Company Limited (PTCL) has the unique status of providing broadband services in over 1,000 cities across the country to over 600,000 customers, said a press release to mark four years of the company's successful DSL service oper
Published 28 May, 2011 12:00am
PNS Mehran Russian-made weapons used by attackers

PNS Mehran Russian-made weapons used by attackers

A forensic report has confirmed that Russian-made weapons were used in PNS Mehran attack. According to sources, the report, which was received by the Sindh police on Friday, said the terrorists fired seven rockets in the attack, of which five met their ta
Published 28 May, 2011 12:00am
Presidency to receive condolences on Monday

Presidency to receive condolences on Monday

The presidency will be opened on Monday for a day to enable people from all walks of life to offer condolences to President Asif Ali Zardari on the death of his father. The president returned here from Benazirabad last night after the soyem held on Wednes
Published 28 May, 2011 12:00am
Power suspension notice

Power suspension notice

According to Iesco spokesman, due to electricity maintenance/development work power supply of areas falling under the following feeders would remain suspended. On Saturday (May 28) 8am to 11am, Race Course feeder, Iqbal Road feeder, Misriyal Road feeder,
Published 28 May, 2011 12:00am
Intermediate examinations: cheating mafia controlling most centres

Intermediate examinations: cheating mafia controlling most centres

The cheating mafia is controlling most examination centres, set-up for annual intermediate examinations in the city. Police and other security personnel deployed outside the examination centres have failed to restrain the mfia from operating in and around
Published 28 May, 2011 12:00am
Cracks appear in Keenjhar Lake's newly built huts

Cracks appear in Keenjhar Lake's newly built huts

Major cracks have appeared in the walls of 12 newly built huts at Keenjhar Lake due to the use of substandard material in the construction and the tourism department has also refused to take administrative control of these huts.
Published 28 May, 2011 12:00am
KESC management, employees: Industries suffering badly due to conflict

KESC management, employees: Industries suffering badly due to conflict

Industries are suffering badly due to ongoing conflict between management and employees of the KESC resulting in massive power outages every day. The Patron In-Chief, Korangi Association of Trade and Industry (KATI), S M Muneer, Chairman, Syed Johaur Ali
Published 28 May, 2011 12:00am
Techlogix starts implementation of Oracle Soft Enterprise

Techlogix starts implementation of Oracle Soft Enterprise

Revisiting fundamentals, introducing any form of change to an institution is possible only if the benefits are multifold at a cost fractional to it. Aiming to bring a change into the education sector, Techlogix, a globally leading Consulting and IT Servic
Published 28 May, 2011 12:00am
Naveed Qamar manages raise in power generation

Naveed Qamar manages raise in power generation

Subsequent to a concerted effort led by Minister for Water and Power, Syed Naveed Qamar, power generation has reached 14419 MW which is the highest generation figure in May as compared to previous years. With the increase in power generation especially th
Published 28 May, 2011 12:00am
CDA seeks citizens' cooperation in cleaning campaign

CDA seeks citizens' cooperation in cleaning campaign

Chairman Capital Development Authority (CDA), Imtiaz Inayat Elahi Friday sought co-operation of students and general public to make the city clean and green. Addressing the 24th investiture ceremony of the students' council here at CDA Model School, he sa
Published 28 May, 2011 12:00am
Mango diplomacy kicks off in Sindh

Mango diplomacy kicks off in Sindh

Mango diplomacy kicks off in the circles of politicians, bureaucrats, business community and landlords of Sindh as the people of the said communities used to gift mangoes to each other which reflected more cordiality in all kinds of relations, Business
Published 28 May, 2011 12:00am
Suicide attacks termed retaliation of drone attacks

Suicide attacks termed retaliation of drone attacks

Punjab Chief Minister, Muhammad Shahbaz Sharif has said that huge loans of 60 billion dollars were taken during the last 63 years. Had the governments used these loans as a sacred trust, the situation would have been different and Pakistan would not have
Published 28 May, 2011 12:00am
Corruption in Wapda: - summons director FIA Lahore

Corruption in Wapda: - summons director FIA Lahore

Chief Justice (CJ) Lahore High Court here on Friday summoned Federal Investigation Agency (FIA) director Lahore in a petition filed by a citizen Muhammad Yousuf for not taken action against corruption by Wapda authorities in issuing electricity connection
Published 28 May, 2011 12:00am
Speakers hail services of Nawaz Sharif

Speakers hail services of Nawaz Sharif

Speakers here on Friday while praising the services of PML-N Chief Muhammad Nawaz Sharif, said the need of the hour is a bold, undaunted leadership and added the nation would once again emerge stronger and defending the country against all odds under his
Published 28 May, 2011 12:00am
Shalimar TMO directed to appear in person

Shalimar TMO directed to appear in person

The Lahore High Court (LHC) here on Friday directed Shalimar TMO to appear in person and explain his position on the issue of falling of trees from a green belt in Shadbagh Scheme-II area for establishing a food street. Earlier, a counsel appeared on beha
Published 28 May, 2011 12:00am
Textile industry pleads for exemption from gas loadshedding

Textile industry pleads for exemption from gas loadshedding

Textile industry in Punjab has pleaded for exemption from gas load shedding, which is badly affecting manufacturing of 6 million metre cloth on daily basis. The ongoing gas shortage has put the textile industry upside down in Punjab. It has resulted in cl
Published 28 May, 2011 12:00am
Levying of Sales Tax on bread opposed

Levying of Sales Tax on bread opposed

Levy of sales tax on bread would not only jack up prices of bread but 40 percent bread manufacturing units would also be closed down, leaving thousands of industrial workers jobless. Chairman Bread Manufacturers Association & Lahore Township Industries As
Published 28 May, 2011 12:00am
Call for revival of civilisation's aesthetics

Call for revival of civilisation's aesthetics

Punjab University College of Art and Design (PUCAD) organised a lecture on "Fanoon-e-Latifa Aur Hamari Tehzeebi Zimmadariyan." Renowned scholar and humanist Ahmed Javed delivered the lecture. College Principal Professor Dr Rahat Naveed Masud and faculty m
Published 28 May, 2011 12:00am
Increase in power tariff: MCCI urges government to withdraw decision

Increase in power tariff: MCCI urges government to withdraw decision

Multan Chamber of Commerce and Industry (MCCI) has criticised increase in electricity and gas tariff and urged the government to withdraw decision otherwise it would be last straw that breaks the camel's back. President MCCI, Shahid Naseem Khokhar said NE
Published 28 May, 2011 12:00am
'Youm-e-Takbir' to be observed with fervour, enthusiasm

'Youm-e-Takbir' to be observed with fervour, enthusiasm

"Youm-e-Takbir" commemorating the nuclear tests conducted by Pakistan on May 12 1998 in reply to Indian nuclear explosions is being celebrated on Saturday (today) with great fervour and enthusiasm. The nuclear explosions on May 28, 1998 made Pakistan the
Published 28 May, 2011 12:00am
'Etihad Express' launched

'Etihad Express' launched

Etihad Airways has launched a new service stop for its complimentary luxury coach service, Etihad Express at Dubai Marina Mall, extending the airline's reach within its home market and making Dubai more accessible than ever for overseas passengers.
Published 28 May, 2011 12:00am
Contempt of court petition: Secretary Auqaf Punjab summoned on May 30

Contempt of court petition: Secretary Auqaf Punjab summoned on May 30

The Lahore High Court (LHC) here on Friday summoned Secretary Auqaf Punjab on May 30 in a contempt of court petition challenging closure of shrines by 8pm in violation of the court orders. Syed Waqar Hussain, the petitioner, pleaded that the respondent se
Published 28 May, 2011 12:00am
Mending fences and restoring trust

Mending fences and restoring trust

Little did the Obama administration know that just one incident like the clandestine raid of the Osama compound could consign the Pak-US anti-terrorism co-operative relationship to a cul-de-sac. A realisation of that mistake was indicated here on Friday a
Published 28 May, 2011 12:00am
What fiscal year 2012 budget looks like

What fiscal year 2012 budget looks like

A section of the press has released some salient features of the budget for the forthcoming fiscal year that, according to the latest reports, would be presented on the 3rd of June. The leaked statistics do not contain any specifics with respect to the ta
Published 28 May, 2011 12:00am
Economics and versatile analytics

Economics and versatile analytics

Life at the top is difficult and onerous. That is more so now that the capabilities required are so different and we still have with us the norms and abilities of the 19th century. The economic survey data base and the various ratios that are given to us
Published 28 May, 2011 12:00am
Time to clean our house

Time to clean our house

In the aftermath of the attack on PNS Mehran Naval Base in Karachi, there are conflicting reports emerging about the attack itself and the operation. Initially the media reported that up to 15 terrorists attacked the naval base simultaneously from three d
Published 28 May, 2011 12:00am
Seventy years on, Phnom Penh's iconic market gets a makeover

Seventy years on, Phnom Penh's iconic market gets a makeover

Whether you are a city resident or a foreign tourist, the chances are that one of the 3,000 vendors at Phnom Penh's Central Market has what you want. Some stock all manner of food - meat, fish, rice, fruit and vegetables. Others sell a lot more - from sta
Published 28 May, 2011 12:00am
Entrepreneurial skills development

Entrepreneurial skills development

The key to sustainable development for any country lies in its economic stability that in turns require an education system that aims toward development of entrepreneurial skills of the youth. It is the combination of, on the one hand, private sector reso
Published 28 May, 2011 12:00am
'EOBI harassing towel manufacturers'

'EOBI harassing towel manufacturers'

Employees Old-Age Benefits Institution (EOBI) keeps on issuing notices to the member units of Towel Association on the pretext of verification of books of accounts. Its is currently issuing instructions for inspection of all kinds of accounts records for
Published 28 May, 2011 12:00am
Oxford dictionary week from May 30

Oxford dictionary week from May 30

The Oxford dictionary week is being marked across the country from May 30 to June 4. This was stated by an official of the Oxford University Press (OUP) Pakistan here on Friday. A variety of Oxford dictionaries as well as thesauruses would be put on displ
Published 28 May, 2011 12:00am
FBR may levy 15 percent FED on shipping agents' commission

FBR may levy 15 percent FED on shipping agents' commission

The government is contemplating to make amendments in Special Procedure for Excisable Services to impose 15 percent federal excise duty (FED) on the commission of shipping agents in the forthcoming budget for 2011-12. Sources told Business Recorder </i
Published 28 May, 2011 12:00am
Three persons including ANP activist killed

Three persons including ANP activist killed

At least three persons including an activist of Awami National party (ANP) were killed in separate incidents in various parts of the metropolis here on Friday. According to details, an activist of ANP was gunned down while other sustained bullet wounds at
Published 28 May, 2011 12:00am
New taxes to harm agriculture sector: growers

New taxes to harm agriculture sector: growers

The growers of Sindh have maintained that the agriculture sector would be harmed to irreparable extent if new taxes were levied on it in the upcoming budget 2011-12. A meeting of Sindh Chamber of Agriculture (SCA), convened here on Friday, observed that t
Published 28 May, 2011 12:00am
PTA flays withdrawal of duty exemption on machinery

PTA flays withdrawal of duty exemption on machinery

The Chairman, Pakistan Tanners Association (PTA) South Zone, Aziz Ahmed, has strongly condemned the FBR's decision to withdraw duty exemption on import of plant and machinery. He termed the decision of the FBR as anti-industry and anti-Pakistan as it woul
Published 28 May, 2011 12:00am
ANP concerned over targeted killing of activists

ANP concerned over targeted killing of activists

Awami National Party (ANP) is concerned over the killing of its activists in the city after losing an agile worker Imran Niazi to targeted-killing incident in Lyari area. President ANP Niazi Chowk, UC-2 Ward in Lyari, Imran Niazi came under gunfire attack
Published 28 May, 2011 12:00am
Cashier held for Rs 55 million embezzlement

Cashier held for Rs 55 million embezzlement

Accused Ghulam Shabbir s/o Shamsuddin Mahar, Cashier (OG-II) National Bank of Pakistan, Chotki Branch was arrested by NAB Sindh on 26 May 2011, as his non-bailable arrest warrant was issued by DG NAB (S) Major Shabbir Ahmed (Retd). Ghulam Shabbir had misa
Published 28 May, 2011 12:00am
Traders demand handing over of KESC to Army

Traders demand handing over of KESC to Army

Hundreds of traders on Friday staged a protest sit-in against the prolonged power outages in markets demanding the government to hand over Karachi Electricity Supply Company (KESC) to Pakistan Army for an interim period to solve the electricity problems o
Published 28 May, 2011 12:00am
Borrowers' data: CIB members advised to ensure complete reporting

Borrowers' data: CIB members advised to ensure complete reporting

The State Bank of Pakistan on Friday directed all banks and financial institutions of the Credit Information Bureau (CIB) to ensure complete and correct information of borrowers. SBP circular CPD No 1 said that it has been observed that some of the financ
Published 28 May, 2011 12:00am
International Steels listed on KSE

International Steels listed on KSE

The Karachi Stock Exchange (KSE) has approved the application for formal listing and quotation of shares of International Steels Limited on completion of all formalities required under the listing regulations of the exchange. The KSE on Friday notified th
Published 28 May, 2011 12:00am
AK Khan Tissue Culture Laboratory inaugurated in DHA

AK Khan Tissue Culture Laboratory inaugurated in DHA

Commander 5 Corps and President Executive Board DHA Lieutenant General Zahir-ul-Islam inaugurated the newly established AK Khan Tissue Culture Lab at the Garden Centre of Horticulture Society of Pakistan (HSP) in DHA Phase-II here on Thursday. The pilot p
Published 28 May, 2011 12:00am
'Chartered Global Management Accountant' designation launched

'Chartered Global Management Accountant' designation launched

The governing bodies of American Institute of Certified Public Accountants and Chartered Institute of Management Accountants, headquartered in London on Friday agreed on creation of a new professional designation 'Chartered Global Management Accountant' t
Published 28 May, 2011 12:00am
US MIDDAY: gold remains up

US MIDDAY: gold remains up

Gold prices remained near three-week highs at Friday's midsession as worries about Greece's debt crisis encouraged buying by investors looking for relative safety and the softer dollar underpinned sentiment. Spot gold hit $1,538.10 a troy ounce, its highe
Published 28 May, 2011 12:00am
US MIDDAY: copper surges

US MIDDAY: copper surges

Copper surged to a three-week high on Friday, bucking negative demand implications from another batch of weak US data, as prices pushed higher in front of a long holiday weekend with the help of a weaker dollar and steady equities. In New York, the active
Published 28 May, 2011 12:00am
US MIDDAY: wheat cuts gains

US MIDDAY: wheat cuts gains

Spring wheat futures on the Minneapolis Grain Exchange cut their gains and briefly turned lower near midday Friday on profit-taking, after the spot July contract failed to surpass Thursday's high, traders said. As of 11:44 am CDT (1164 GMT) on Friday, Jul
Published 28 May, 2011 12:00am
US MIDDAY: sugar higher

US MIDDAY: sugar higher

Raw sugar futures closed higher for the fourth straight day on Friday, lifted by cash activity, while arabica coffee and US cocoa reversed to close down after failing to hold above key technical levels. The key July raw sugar contract rose 0.30 cent to fi
Published 28 May, 2011 12:00am
Gold hits over three-week high in Europe

Gold hits over three-week high in Europe

Gold hit its highest in more than three weeks on Friday as worries about Greece's debt crisis triggered buying by investors looking for a safe place to park assets, while the softer dollar also helped underpin sentiment. Spot gold hit $1,534.80 a troy oun
Published 28 May, 2011 12:00am
Gold rises in Asia

Gold rises in Asia

Gold rose on Friday as mounting worries about a Greece debt default prompted buying from investors, while silver gained more than 2 percent after tumbling from a two-week top in the previous session. Spot gold added $5.60 to $1,523.70 an ounce by 0517 GMT
Published 28 May, 2011 12:00am
Gold down in New York

Gold down in New York

Gold finished lower on Thursday, led by a drop in euro-priced bullion after the single European currency came under sudden pressure on heightened concerns over eurozone debt issues, although safe-haven buying limited its declines. Spot gold trimmed its de
Published 28 May, 2011 12:00am
Liffe sugar higher

Liffe sugar higher

Liffe August white sugar closes $8.30 higher at $658.30 a tonne on Friday. Market supported by strong physical demand from North Africa and the Middle East. Liffe September cocoa ended 37 pounds lower at 1,836 pounds a tonne. Market remains on the defensi
Published 28 May, 2011 12:00am
Options spur New York cocoa up

Options spur New York cocoa up

US cocoa futures rallied over 3 percent on Thursday, closing at a two-week high after breaking through resistance with a boost from heavy options-related dealings. Sugar reversed to close modestly higher, following a report from top grower Brazil's cane i
Published 28 May, 2011 12:00am
Malaysian palm oil climbs

Malaysian palm oil climbs

Malaysian palm oil futures climbed 0.6 percent to a seven-week high on Friday, boosted by expectations overseas demand will grow. "People are looking forward to better demand in the coming months," said a trader in Kuala Lumpur, referring to the Muslim fa
Published 28 May, 2011 12:00am
Tokyo rubber futures retreat

Tokyo rubber futures retreat

Tokyo rubber futures retreated from a one-month high on Friday, dragged down by firmness in the yen, but limited supply still provided support, allowing the benchmark contract to finish above the psychological level of 385 yen. The November contract on th
Published 28 May, 2011 12:00am
US oil soars

US oil soars

US oil prices regained their footing near the close to end slightly higher on Friday, finding support from gasoline futures, which soared in anticipation of higher demand this summer driving season. Gains were limited, however, as a plunge in US home sale
Published 28 May, 2011 12:00am
Copper hits three-week high

Copper hits three-week high

Copper hit three-week highs on Friday, as a weaker dollar boosted prices, but pared gains as poor US data underlined a patchy global economic outlook that suggested its advance may falter. Three-month copper on the London Metal Exchange traded at $9,199 a
Published 28 May, 2011 12:00am
Shanghai copper up

Shanghai copper up

The most-active August copper contract on the Shanghai Futures Exchange closed 0.9 percent higher at 68,660 yuan per tonne on Friday, after falling for the most part of the trading day, catching up with London's gains.
Published 28 May, 2011 12:00am
US copper lower

US copper lower

Benchmark copper closed lower on Thursday, on disappointment with weak US economic data and a mild retreat in the euro as concerns about Greek fiscal woes persisted. "Are we slowing down? If so, how slow do we go? What about Chinese demand? There's just a
Published 28 May, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

US cotton futures finished higher Friday on investor short-covering by players worried about a historic drought in the key growing state of Texas ahead of a holiday weekend, brokers said. The cotton market will be closed Monday for US Memorial Day. Tradin
Published 28 May, 2011 12:00am
Russia, US sign chopper deal for Afghanistan

Russia, US sign chopper deal for Afghanistan

Russia has signed a contract with the US Army to deliver 21 MI-17 helicopters to Afghanistan, new agencies quoted the defence ministry's arms oversight service as saying Friday. The contract includes new helicopters, along with "delivery of spare parts, o
Published 28 May, 2011 12:00am
Interpol issues world-wide alert on Afghan jailbreak

Interpol issues world-wide alert on Afghan jailbreak

Interpol has sent an alert to its partner-states asking for help in tracking 417 people who escaped from an Afghan prison last month, the international police organisation said in a statement Friday. The alert will "strongly help mobilise efforts by Afgha
Published 28 May, 2011 12:00am
'Peaceful Revolution' protest in Sanaa

'Peaceful Revolution' protest in Sanaa

Yemeni tribesmen said they wrested a military compound from elite troops loyal to President Ali Abdullah Saleh outside the capital Sanaa on Friday as fighting spread, threatening to tip the country into civil war. Yemeni fighter jets broke the sound barri
Published 28 May, 2011 12:00am
Serb court says Mladic fit for genocide trial

Serb court says Mladic fit for genocide trial

Ratko Mladic is fit enough to face genocide charges in The Hague, a Belgrade court ruled on Friday, after the Bosnian Serb wartime general's son said he appeared too frail after more than 15 years on the run. The court said Mladic, arrested on Thursday in
Published 28 May, 2011 12:00am
Egypt protesters demand deeper and faster reforms

Egypt protesters demand deeper and faster reforms

Thousands of Egyptians packed Cairo's Tahrir Square on Friday in what organisers called a "second revolution" to push for faster reforms and a speedy trial for ousted President Hosni Mubarak and his former aides. Activists complain of delays in putting Mu
Published 28 May, 2011 12:00am
Afghan government struggles to spend donated funds

Afghan government struggles to spend donated funds

For Afghanistan's government, getting foreign money to build desperately needed roads, schools, wells and clinics isn't the hard part. Spending it is. Hundreds of millions in donor funds have not been paid out for things like jobs programs, health clinics
Published 28 May, 2011 12:00am
Seven killed in Syria protests, world pressure grows

Seven killed in Syria protests, world pressure grows

Syrian security forces shot dead seven people on Friday, rights campaigners said, as protesters defied a nation-wide crackdown by President Bashar al-Assad which world leaders condemned. Three protesters were killed in the central city of Homs, another th
Published 28 May, 2011 12:00am
Russia joins Western chorus for Qadhafi to go

Russia joins Western chorus for Qadhafi to go

Russia believes Libyan leader Muammar Qadhafi should quit and could help broker his departure, a senior Russian official said on Friday in an important boost to Nato powers bent on ending his 41-year rule. It was a striking change in tone from Kremlin cri
Published 28 May, 2011 12:00am
US approves extension of anti-terror powers

US approves extension of anti-terror powers

US President Barack Obama on Thursday signed into law a four-year extension of controversial counter-terrorism search and surveillance powers at the heart of the Patriot Act. The president signed the act into law after it was approved by Congress and just
Published 28 May, 2011 12:00am
Imam convicted in John F Kennedy bomb plot

Imam convicted in John F Kennedy bomb plot

An imam from the Caribbean nation of Trinidad and Tobago was convicted Thursday in New York over a plot to blow up fuel supplies at John F. Kennedy Airport. Kareem Ibrahim was convicted in Brooklyn federal court and faces a sentence of life in prison. He
Published 28 May, 2011 12:00am
North Korea says it will release US detainee

North Korea says it will release US detainee

North Korea said Friday it has decided to release a US citizen held since November on unspecified charges, following requests from a US official who is assessing possible food aid. Eddie Jun Yong-Su, a California-based businessman, was detained for appare
Published 28 May, 2011 12:00am
Pakistan 'A' beat Afghanistan, win series

Pakistan 'A' beat Afghanistan, win series

Pakistan 'A' team beat Afghanistan in their second One-day game by 150 runs on Friday to secure victory in the three-match series. Once Pakistan 'A' scored a mammoth 327-7 in their 50 overs after winning the toss on a flat batting strip at Rawalpindi, the
Published 28 May, 2011 12:00am
Tendulkar opts out of West Indies tour

Tendulkar opts out of West Indies tour

Indian batting superstar Sachin Tendulkar has opted out of the three-Test series in the West Indies starting next month, it was announced on Friday. Tendulkar, the world's leading scorer in both Test and one-day cricket, is on 99 international centuries b
Published 28 May, 2011 12:00am
Raina takes over from Gambhir as skipper

Raina takes over from Gambhir as skipper

Suresh Raina will lead India in the limited-overs series in West Indies next month after stand-in captain Gautam Gambhir was ruled out due to a shoulder injury, the Indian cricket board said on Friday. Gambhir had been named captain after regular skipper
Published 28 May, 2011 12:00am
Misbah's Pakistan face tricky Ireland series

Misbah's Pakistan face tricky Ireland series

Pakistan are set to play a two-match one-day series against Ireland with Misbah-ul-Haq their fifth limited overs captain in three years. Misban was handed the captaincy last week following the sacking of Shahid Afridi, who, it was announced on Tuesday, is
Published 28 May, 2011 12:00am
Prasanna and reviews frustrate England

Prasanna and reviews frustrate England

Prasanna Jayawardene's stylish, unbeaten fifty helped take Sri Lanka to 316 for six against England at tea on the second day of the first Test at Sophia Gardens here on Friday. The wicketkeeper was 69 not out at the interval, having hit eight fours in nea
Published 28 May, 2011 12:00am
Latest Score: Sri Lanka 400 all out

Latest Score: Sri Lanka 400 all out

Sri Lanka, after winning the toss, were bowled out for 400 on the second day of the first Test against England at Sophia Gardens here on Friday. Prasanna Jayawardene top-scored with 112 before Suranga Lakmal was last man out for two. James Anderson led En
Published 28 May, 2011 12:00am
Hantuchova stuns Wozniacki, Schiavone advances, Stosur falls

Hantuchova stuns Wozniacki, Schiavone advances, Stosur falls

Caroline Wozniacki's Grand Slam misery plunged to new depths at the French Open on Friday as Daniela Hantuchova sent her packing at the third round stage with a comprehensive 6-1, 6-3 win in just 73 minutes. The 20-year-old Dane's defeat follows the strai
Published 28 May, 2011 12:00am
United banish 2009 talk ahead of Barca rematch

United banish 2009 talk ahead of Barca rematch

Manchester United are seeking to banish the memory of their 2009 humbling by Barcelona as they prepare for Saturday's Champions League final at Wembley. Two years ago, Sir Alex Ferguson's side arrived in Rome brimming with confidence, ready to justify the
Published 28 May, 2011 12:00am
Rooney aims for final redemption

Rooney aims for final redemption

Wayne Rooney's long road to redemption will finally be complete if the Manchester United striker can win his duel with Barcelona's Lionel Messi at Wembley on Saturday. Rooney's place in the United pantheon seemed assured by the time he helped Sir Alex Fer
Published 28 May, 2011 12:00am
Final to boost economies

Final to boost economies

The Champions League final between Manchester United and Barcelona on Saturday will generate 369 million euros ($525 million) across Europe's economy, MasterCard said on the eve of the football showdown. The winners will scoop an estimated 126 million eur
Published 28 May, 2011 12:00am
FIFA in turmoil as Blatter faces corruption probe

FIFA in turmoil as Blatter faces corruption probe

The battle for the FIFA presidency was thrown further into turmoil on Friday as football's governing body announced they have opened a probe for alleged corruption against president Sepp Blatter. Blatter will appear before FIFA's ethics committee on Sunda
Published 28 May, 2011 12:00am
Federer, Ferrer advance

Federer, Ferrer advance

Roger Federer cruised into the French Open last 16 on Friday as Roland Garros braced itself for a Grand Slam heavyweight clash between Novak Djokovic and Juan Martin del Potro. Federer, the 2009 champion and playing in his 46th consecutive Grand Slam tour
Published 28 May, 2011 12:00am
NBP's Wheel Chairs Cricket final today

NBP's Wheel Chairs Cricket final today

The final of All Pakistan Wheel Chairs Cricket tournament organised by the National Bank of Pakistan (NBP), will be played on Saturday (today), at 4:30pm at Karachi Parsi Institute Cricket Ground. Imam Buksh Baloch, Senior Executive Vice President, Nation
Published 28 May, 2011 12:00am
Swiss franc at fresh all-time

Swiss franc at fresh all-time

The Swiss franc surged to fresh all-time highs against the dollar and the euro on Friday as the International Monetary Fund said Switzerland should raise interest rates soon, giving wings to the franc. The franc also hit a record 1.2168 francs per euro on
Published 28 May, 2011 12:00am
Rate futures pare back

Rate futures pare back

Concerns over an impasse on the Greek crisis have prompted investors to pare back expectations in money markets for monetary tightening, but worries over inflation mean they will continue to price in rate hikes. Euribor interest rate futures were broadly
Published 28 May, 2011 12:00am
Won, ringgit extend gains

Won, ringgit extend gains

The South Korean won and the Malaysian ringgit extended gains on Friday, leading their Asian peers, on a broadly weaker dollar and as investors continued to buy the regional stocks, while China provided further support by fixing the yuan's mid-point at a
Published 28 May, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee ended stronger on Friday as positive local shares and the euro's gains against the dollar supported, but persistent demand for the greenback from importers prevented a sharper rise. The partially convertible rupee closed at 45.16/17 per d
Published 28 May, 2011 12:00am
New Zealand and Australian dollars climb

New Zealand and Australian dollars climb

The New Zealand and Australian dollars rose against a broadly weaker greenback on Friday, underpinned by firmer stocks and commodities, with the kiwi soaring to a fresh 3-year high. The New Zealand dollar surged to a fresh peak of $0.8200, before steadyin
Published 28 May, 2011 12:00am
Euro stays at record low versus Swiss franc

Euro stays at record low versus Swiss franc

The euro hit a record low versus the Swiss franc on Thursday on mounting doubts whether Greece will receive its next round of aid from the IMF, and the worries are likely to keep the single currency under pressure. Comments by Jean-Claude Juncker, preside
Published 28 May, 2011 12:00am
Midday trade in New York: Euro rebounds versus dollar

Midday trade in New York: Euro rebounds versus dollar

The euro took off against the dollar on Friday, helped by comments out of Europe suggesting that Greece should be able to handle its heavy debt load. The euro, however, hit a record low versus the Swiss franc, as did the dollar, indicating investors remai
Published 28 May, 2011 12:00am
Euro trims gains in London

Euro trims gains in London

The euro trimmed gains against a broadly weaker dollar and hit a record low against the safe-haven Swiss franc on Friday on persisting concerns about the economic health of some eurozone countries. The dollar stayed under pressure following weak US data o
Published 28 May, 2011 12:00am
Dollar tumbles broadly in Asia

Dollar tumbles broadly in Asia

The dollar tumbled broadly on Friday after weak US economic data dragged the 10-year Treasury yield down to a six-month low overnight, with the greenback's drop gaining steam on a flurry of stop-loss selling. The dollar fell across the board, hitting a re
Published 28 May, 2011 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling hovered below a two-week high against a weak dollar on Friday as investors liquidated long positions in the greenback, with the pound set to benefit from an increasingly uncertain outlook for the US economy. The dollar was down 0.5 percent agains
Published 28 May, 2011 12:00am
Yuan little changed

Yuan little changed

The yuan ended little changed against the dollar on Friday, even though the People's Bank of China set the mid-point at a record high, as dealers reported large dollar demand from corporate clients. The Chinese central bank set the yuan's daily mid-point
Published 28 May, 2011 12:00am
Miners, banks lead broad-based FTSE rally

Miners, banks lead broad-based FTSE rally

Miners and banks led a broad-based FTSE rally into the long holiday weekend, although short-term index moves are seen rangebound with a technical skew to the downside. Leading the charge higher on Friday were heavyweight diversified miners, contributing 1
Published 28 May, 2011 12:00am
New South American exchange to start trade

New South American exchange to start trade

Limited trading is slated to start on Monday on the MILA bourse that will integrate the stock exchanges of Colombia, Chile and Peru to help boost liquidity and initial public offerings, officials said on Friday. MILA, which cross-lists shares of companies
Published 28 May, 2011 12:00am
Australian shares soar

Australian shares soar

Australian stocks rose 0.5 percent on Friday following strong global leads, but still ended the week 1 percent down as distressing global economic news took its toll. The main index is down 2.9 percent so far in May and is on course for its worst monthly
Published 28 May, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.25 percent on Friday, with banks such as Mega Financial gaining after regulators said it would allow overseas branches and offshore banking units to conduct business using the Chinese currency. The benchmark TAIEX index ended up 21.60
Published 28 May, 2011 12:00am
European shares higher

European shares higher

European shares rose on Friday, led by banks on a report that Basel III capital requirements would not be as stringent as previously expected. But strategists said shares were set to remain in a tight range until there was more clarity on the euro zone de
Published 28 May, 2011 12:00am
Hong Kong shares jump, China posts worst week in 11 months

Hong Kong shares jump, China posts worst week in 11 months

Hong Kong shares jumped on Friday, recovering the bulk of the week's losses and shrugging off a weak Shanghai market that posted its worst weekly loss in eleven months as tight liquidity in the financial system continued to weigh on sentiment. A rally in
Published 28 May, 2011 12:00am
Southeast Asian markets up

Southeast Asian markets up

Southeast Asian stock markets posted small gains on Friday as investors bought resource shares after a rise in oil prices, but indexes were lower on the week as concern grew about the impact of euro debt problems on the global economy. Turnover in some ma
Published 28 May, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied and benchmark yields fell to new six-month lows on Thursday as weaker-than-expected economic data and renewed concerns over Greece's debt added to demand for safe haven debt. Ten-year notes yields also broke below their 200-day movin
Published 28 May, 2011 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied and benchmark yields fell to new six-month lows on Thursday as weaker-than-expected economic data and renewed concerns over Greece's debt added to demand for safe haven debt. Ten-year notes yields also broke below their 200-day movin
Published 28 May, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares erased earlier falls and ended up 0.4 percent on Friday as foreign investors continued buying after snapping a 10-session selling streak in the previous session, with a firm rebound in autos and technology stocks helping the market. The Korea
Published 28 May, 2011 12:00am
US stocks remain up

US stocks remain up

US stocks rose for a second day on Thursday in a choppy session, with technology and consumer discretionary stocks leading the way after upbeat earnings. Sellers crowded around the S&P 500's 50-day moving average for a third day. The level, now just above
Published 28 May, 2011 12:00am
Friday's midday trade: Wall Street gains

Friday's midday trade: Wall Street gains

Wall Street rose on Friday, led by energy and materials stocks as commodity prices firmed in light trading before the long Memorial Day holiday weekend. The S&P Energy index rose 0.8 percent. Occidental Petroleum added 1.8 percent to $106.87. Freeport-McM
Published 28 May, 2011 12:00am
Nikkei dips as Sony weighs

Nikkei dips as Sony weighs

The Nikkei stock average fell on Friday for its third straight week of losses, pulled lower by a drop in Sony Corp shares after the electronic giant's earnings outlook undershot analyst forecasts. While positive news this week, such as the launch of new i
Published 28 May, 2011 12:00am
Indian shares climb

Indian shares climb

Indian shares rose nearly 1 percent on Friday, led by gains in index heavyweights Reliance Industries and ICICI Bank, and helped by gains in Asian markets as bargain hunters scooped up beaten down stocks. Indian shares buoyed by gains in international mar
Published 28 May, 2011 12:00am
Nigeria interbank rates up

Nigeria interbank rates up

Nigerian interbank lending rates climbed to 10.58 percent on average this week from 9.16 percent last week after the central bank lifted its benchmark interest rate, traders said on Friday. The central bank raised the rate to 8.0 percent from 7.5 percent
Published 28 May, 2011 12:00am
Top Indian adviser calls for liberalising retail

Top Indian adviser calls for liberalising retail

India's top economic adviser called on Friday for the government to open up the nation's vast retail sector to foreign investors to cut supply bottlenecks and ease stubbornly high inflation. Large retailers such as US-based Wal-Mart and France's Carrefour
Published 28 May, 2011 12:00am
Vedanta Cairn bid to go to India cabinet for decision

Vedanta Cairn bid to go to India cabinet for decision

British resource giant Vedanta's long-delayed bid to buy a majority stake in the Indian unit of Cairn Energy will go to the cabinet for a decision within two weeks, a minister said Friday. Britain-based Cairn Energy has called the government's ruling on t
Published 28 May, 2011 12:00am
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