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Archive - 2011-06-08
NATO wants broader Libya effort
Top News

NATO wants broader Libya effort

BRUSSELS : NATO its air power stretched by the heaviest strikes to date on Tripoli , sought broader support for its bom
Published 08 Jun, 2011 05:25pm
Iran to enrich 20pc uranium
Top News

Iran to enrich 20pc uranium

TEHRAN : Iran will transfer its 20 percent uranium enrichment activities to the Fordo site, southwest of Tehran , and
Published 08 Jun, 2011 04:31pm
UK yields hit 7-month lows
Europe

UK yields hit 7-month lows

LONDON : British gilt futures climbed with Bunds and short-dated yields hit 7-month lows on Wednesday as worries about g
Published 08 Jun, 2011 04:00pm
Muhammad Aamir flouts his ban
Cricket

Muhammad Aamir flouts his ban

LONDON : Pakistan bowler Muhammad Aamir could face more censure after apparently being caught flouting his worldwide s
Published 08 Jun, 2011 01:56pm
Oil prices fall as OPEC meets
Energy

Oil prices fall as OPEC meets

LONDON: Oil prices dropped on Wednesday as OPEC considered whether to boost supplies aimed at reviving weak global econo
Published 08 Jun, 2011 09:09am
German exports drop by 5.5pc in April
Top News

German exports drop by 5.5pc in April

FRANKFURT : German exports fell by 5.5 percent in April from the previous month as an ebb in global activity hit the wor
Published 08 Jun, 2011 08:05am
South Korea revises Q1 growth downward
Top News

South Korea revises Q1 growth downward

SEOUL: South Korea's economy grew at a slightly slower pace than previously estimated in the first quarter after dom
Published 08 Jun, 2011 06:57am
North Korea test-fired missile
Asia

North Korea test-fired missile

SEOUL: North Korea test-fired a short-range missile off its west coast last week in the first such launch for 19 months,
Published 08 Jun, 2011 06:23am
Taiwan makes bribe-paying illegal
Asia

Taiwan makes bribe-paying illegal

TAIPEI : Taiwan has made bribe-paying illegal for the first time after a string of high-profile graft scandals, author
Published 08 Jun, 2011 05:39am
Gold, the reliable safe haven
BR Research

Gold, the reliable safe haven

Gold fever doesn seem to disappearing anytime soon. The glittering metal reached $1549 per ounce on Monday, strengthening by around 10 perc
Published 08 Jun, 2011 12:00am
New York coffee tumbles, sugar climbs

New York coffee tumbles, sugar climbs

ICE arabica coffee tumbled in its biggest one-day fall in nearly three months on Monday, surrendering Friday's steep gains to investor and origin selling, while white sugar continued to outperform the raws and closed higher. Cocoa eased in choppy trade, w
Published 08 Jun, 2011 12:00am
New York cotton ends limit down

New York cotton ends limit down

US cotton futures settled the daily limit down Tuesday as follow-through liquidation and switch trade deflated the market for the second consecutive session, analysts said. Some in the trade wondered if fears the US Agriculture Department's monthly supply
Published 08 Jun, 2011 12:00am
7,000 cusecs water released downstream Kotri barrage

7,000 cusecs water released downstream Kotri barrage

Sindh Irrigation Authorities are releasing about 7,139 cusecs water downstream the Kotri Barrage into the Indus Delta Region after a lapse of six months to meet the region's fresh water requirements, Wapda officials told Business Recorder, here on Monday.
Published 08 Jun, 2011 12:00am
Budget to ensure fair, equitable taxation: ACCA

Budget to ensure fair, equitable taxation: ACCA

ACCA Pakistan considers Federal Budget 2011 to be aiming for increasing the tax base by acknowledging the need of having rational, fair and equitable taxation. Giving detailed comments on the budget, here on Tuesday, ACCA said that devolution of certain s
Published 08 Jun, 2011 12:00am
Minister unveils plaque of uplift projects

Minister unveils plaque of uplift projects

Punjab Law Minister Rana Sanaullah Khan has said that we should learn the lesson from the past mistakes and available resources should be spent judiciously in the right directions of development projects of collective benefits in the large public interest
Published 08 Jun, 2011 12:00am
Budget session: no pass should be issued to guests, says Fehmida

Budget session: no pass should be issued to guests, says Fehmida

Speaker National Assembly Dr Fehmida Mirza on Tuesday instructed the authority concerned to avoid bringing guests during the budget session to ensure security of the parliament. Speaker's remarks came in response to Minister for Religious Affairs Syed Khu
Published 08 Jun, 2011 12:00am
BoP scam case hearing today

BoP scam case hearing today

While hearing Rs 9 billion Bank of Punjab (BoP) scam, the Chief Justice of Pakistan Iftikhar Muhammad Chaudhry said that various miscellaneous applications related to the scam would be decided today (Wednesday). A three-member bench comprising Chief Justi
Published 08 Jun, 2011 12:00am
'Deforestation serious threat to agro-based economy'

'Deforestation serious threat to agro-based economy'

Almost 41,000 hectares of forests have been removed since 1947, while deforestation of 27,000 hectares is taking place annually, which is a serious threat to agro-based economy along with environment. This was stated by Minister for Kashmir and Gilgit-Bal
Published 08 Jun, 2011 12:00am
12 of a family killed in road accident

12 of a family killed in road accident

At least twelve members of a family including five minors were killed in a road accident near Pir Mahal (Toba Tek Singh district) on Tuesday when a car and coach collided head on, Police said. Police said that a family of Khanewal was returning after atte
Published 08 Jun, 2011 12:00am
PTCL launches IPv6

PTCL launches IPv6

Pakistan Telecommunication Company Limited (Ltd) has successfully deployed Internet Protocol version 6 (IPv6) to provide large address space to its valued broadband customers. Internet Protocol Version 6, deals with the IPv4 address exhaustion as IPv6 use
Published 08 Jun, 2011 12:00am
Reject foreign aids every Pakistani voice: chief minister Punjab

Reject foreign aids every Pakistani voice: chief minister Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif has said it was the voice of every patriotic Pakistani that such charity of outsiders should be rejected which brings dishonour to the country and entails bloodshed of innocent people, violation of aerial spac
Published 08 Jun, 2011 12:00am
Nato nearing 'decisive blow' in Afghan war: Gates

Nato nearing 'decisive blow' in Afghan war: Gates

Defence Secretary Robert Gates, wrapping up a final visit to Afghanistan as Pentagon chief, said Tuesday that US-led forces are on the verge of securing a "decisive blow" against the Taliban. "I leave Afghanistan today with the belief that if we keep this
Published 08 Jun, 2011 12:00am
Interpol urges airlines to create passport database

Interpol urges airlines to create passport database

Interpol urged the world's airlines on Tuesday to establish a passport database to help prevent terror attacks similar to the September 11, 2001 airline hijackings that targeted the United States. Many terrorists travel on fake documents and a database wo
Published 08 Jun, 2011 12:00am
Battles rage in Yemen, 45 dead

Battles rage in Yemen, 45 dead

At least 45 people were killed in an al Qaeda-held town in the latest violence in Yemen and protesters took to the streets of the capital on Tuesday to demand that President Ali Abdullah Saleh stay in exile. The army said it had killed 30 militants, inclu
Published 08 Jun, 2011 12:00am
Bright sparks among 'Asia's Nobel Prize' winners

Bright sparks among 'Asia's Nobel Prize' winners

Two scientists who are probing the brightest flashes in the universe were Tuesday named among the winners of the Shaw Prize, the $1 million award known as the Nobel Prize of the east. NASA scientist Gerald Fishman and Italian astro-physicist Enrico Costa
Published 08 Jun, 2011 12:00am
Saudi prince signs new Egypt farm land deal

Saudi prince signs new Egypt farm land deal

Egypt settled one of a string of disputes over state land sales under deposed President Hosni Mubarak, revising the terms of a farmland deal with Saudi Prince Alwaleed bin Talal, the Egyptian government said on Tuesday. The Saudi billionaire signed a new
Published 08 Jun, 2011 12:00am
Americans rated most hilarious in global poll

Americans rated most hilarious in global poll

The Germans have been voted the world's "least funny nationality" in a global poll, which names Americans the funniest overall and the Spanish the most amusing Europeans, ahead of the Italians and French. The social network and dating website Badoo.com as
Published 08 Jun, 2011 12:00am
Countries seek nuclear stress tests after Japan crisis

Countries seek nuclear stress tests after Japan crisis

Government ministers and officials from nearly 30 nuclear energy producing countries called on Tuesday for safety tests on all reactors, after the disaster at Japan's Fukushima plant sparked concern over standards. A majority of delegates at talks hosted
Published 08 Jun, 2011 12:00am
Nuclear disarmament lags, resources spur conflict

Nuclear disarmament lags, resources spur conflict

Disarmament vows have failed to reduce the nuclear threat as nations invest in new weapons systems, a leading think-tank said Tuesday, amid a rise in global tensions due to competition for scarce resources. "More than 5,000 nuclear weapons are deployed an
Published 08 Jun, 2011 12:00am
Medvedev signs Russia-US plutonium deal

Medvedev signs Russia-US plutonium deal

Russian President Dmitry Medvedev on Tuesday signed an updated Russian-US agreement for scrapping weapons-grade plutonium, the Kremlin said on Tuesday. Russia and the United States will each dispose of 34 tonnes of excess plutonium, using it as fuel in re
Published 08 Jun, 2011 12:00am
Iran 'plan' to solve Bahrain problem: Ahmadinejad

Iran 'plan' to solve Bahrain problem: Ahmadinejad

Iranian President Mahmoud Ahmadinejad told a news conference on Tuesday that Tehran will soon present "a plan" for Bahrain to solve the problem in the Gulf kingdom. "I hope that in the near future conditions are prepared and we can present our proposal so
Published 08 Jun, 2011 12:00am
Syrian troops move on restive town, West alarmed

Syrian troops move on restive town, West alarmed

Syrians fled a restive town near the Turkish border on Tuesday, fearing bloodshed as troops with tanks approached, under orders to hit back after the government accused armed bands there of killing scores of its security men. Though accounts of days of ki
Published 08 Jun, 2011 12:00am
Syrian envoy to France resigns

Syrian envoy to France resigns

Syria's ambassador to France Lamia Shakkour quit her post on Tuesday, saying she recognised "the legitimacy of the (Syrian) people's demands," in a statement over French television. "I cannot support the cycle of violence, ignore that demonstrators have d
Published 08 Jun, 2011 12:00am
US congressman Weiner admits online affairs

US congressman Weiner admits online affairs

US Representative Anthony Weiner on Monday tearfully admitted having a number of inappropriate relationships with women over the Internet, saying he was deeply ashamed but would not resign. Weiner admitted to inappropriate Internet and telephone conversat
Published 08 Jun, 2011 12:00am
Russia mobilises Siberian convicts to help combat forest fires

Russia mobilises Siberian convicts to help combat forest fires

Russia has mobilised gangs of prison convicts to help fight forest fires burning out of control and destroying critical power lines, officials said Tuesday. Blazes in the Irkutsk district of central Siberia had cut power lines and left more than 20,000 pe
Published 08 Jun, 2011 12:00am
Chile volcano ash grounds flights in Argentina

Chile volcano ash grounds flights in Argentina

Stiff winds blew ash from a Chilean volcano Tuesday in a widening arc across Argentina to the capital, grounding most air travel to and from the country. Since airborne ash can severely damage jet engines, Aerolineas Argentinas and Austral, the country's
Published 08 Jun, 2011 12:00am
Coach, manager slam Afridi in tour reports

Coach, manager slam Afridi in tour reports

Pakistan's cricket coach has described former captain Shahid Afridi as "immature" and a bad influence on the dressing room. In excerpts of tour reports seen by Reuters coach Waqar Younis said Afridi's attitude and unwillingness to resolve issues created a
Published 08 Jun, 2011 12:00am
Pakistan against ICC reform plans

Pakistan against ICC reform plans

Pakistan has rejected reforms which could see the country lose the right to have one of its nationals at the head of cricket's governing body, an official said Tuesday. A plan to scrap the rotation policy for appointing presidents and vice-presidents of t
Published 08 Jun, 2011 12:00am
Messi, Argentina set to play in India

Messi, Argentina set to play in India

Lionel Messi and his Argentina team mates will travel to India later this year to take on Venezuela in a friendly designed to boost football on the subcontinent, a report said Tuesday. The FIFA-sanctioned game is scheduled for September 2 in the eastern c
Published 08 Jun, 2011 12:00am
Ton-up Cook gives England a shot at victory

Ton-up Cook gives England a shot at victory

Alastair Cook scored his third century in four Test innings to help give England a chance of a series-clinching victory against Sri Lanka at Lord's here on Tuesday. Sri Lanka were 32 for one in their second innings at tea on the fifth and final day, needi
Published 08 Jun, 2011 12:00am
Spectator hurt in Prior bat incident

Spectator hurt in Prior bat incident

A female spectator in the Lord's Pavilion was injured by broken glass after a bat thrown by England's Matt Prior broke a window here on Tuesday. Confusion surrounded the initial cause of the accident, which was said by a team spokesman to have involved an
Published 08 Jun, 2011 12:00am
Ebden earns shot at Nadal; Roddick seals tough win

Ebden earns shot at Nadal; Roddick seals tough win

Australian qualifier Matthew Ebden earned a shot at world number one Rafael Nadal thanks to his 7-5, 6-3 win over India's Somdev Devvarman at Queen's, while four-time champion Andy Roddick defeated Feliciano Lopez 7-6 (7/2), 6-7 (5/7), 6-4 on Tuesday. Ebd
Published 08 Jun, 2011 12:00am
India beat West Indies in first ODI

India beat West Indies in first ODI

Rohit Sharma led the way with an unbeaten 68, and Shikhar Dhawan scored 51 to propel India to a facile four-wicket victory over West Indies in the first One-day International on Monday. Sharma struck three fours and one six from 75 balls, and Dhawan hit t
Published 08 Jun, 2011 12:00am
No 'crisis' in Asian football

No 'crisis' in Asian football

Asian football is not in "crisis" and is running smoothly despite corruption allegations which have left its leader suspended from the sport, a senior official said Tuesday. Asian Football Confederation (AFC) general secretary Alex Soosay said there were
Published 08 Jun, 2011 12:00am
Overnight Eonia seen higher

Overnight Eonia seen higher

Eurozone overnight borrowing costs are likely to stay higher than previously expected next week with less liquidity in the system and many banks remaining reluctant to lend due to uncertainty over the Greek debt crisis.
Published 08 Jun, 2011 12:00am
Won, ringgit decline

Won, ringgit decline

The South Korean won and the Malaysian ringgit slid on Tuesday as short-term speculators reduced positions, with the slowing global economy putting pressure on emerging Asian currencies and reinforcing views that regional central banks will hold off on fu
Published 08 Jun, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Tuesday, tracking the dollar index's drop to a 1-month low alongside gains in domestic equities. The partially convertible rupee ended at 44.67/68 per dollar, up 0.2 percent from Monday's close of 44.755/765. During the da
Published 08 Jun, 2011 12:00am
Australian dollar slips

Australian dollar slips

The Australian dollar skidded half a cent on Tuesday after the Reserve Bank of Australia's (RBA) kept rates on hold and showed no sign of being in a hurry to tighten policy, giving the New Zealand dollar a boost. The Aussie slipped as deep as $1.0671, a f
Published 08 Jun, 2011 12:00am
Swiss franc near peak

Swiss franc near peak

The Swiss franc hovered within sight of its record against the dollar on Tuesday on expectations the US Federal Reserve may have to keep policy loose. The Swiss franc was flat against the dollar compared with the New York close, trading at 0.8342 at 0640
Published 08 Jun, 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 Tuesday. 73.77/73.87 (previous 73.75/73.85). Call Money Rates: 6.00-9.00 percent (previous 6.00-9.00 percent).
Published 08 Jun, 2011 12:00am
Euro skids versus dollar

Euro skids versus dollar

The euro faltered on Monday after two days of gains, pressured by a German official's comment that a second Greek bailout was not yet certain, although belief that Greece will be able to avert default on its massive debt should limit the currency's losses
Published 08 Jun, 2011 12:00am
Early trade in New York: dollar pressured by China comments

Early trade in New York: dollar pressured by China comments

The dollar dropped against the euro and briefly hit a record low against the Swiss franc on Tuesday after a senior Chinese currency regulator repeated warnings about investing too heavily in dollar-denominated assets. In an article posted on the website o
Published 08 Jun, 2011 12:00am
Dollar slips versus majors

Dollar slips versus majors

The dollar hit a one-month low against a basket of currencies on Tuesday and a record trough against the Swiss franc as bearish comments from a Chinese official clouded an already weak outlook for the greenback. Investors stepped up dollar selling after a
Published 08 Jun, 2011 12:00am
Euro stays near one-month high

Euro stays near one-month high

The euro held firm below a one-month high on Tuesday, though further climbs after a two-week rally may require clear signals from the European Central Bank later in the week that it plans to raise interest rates next month. The euro slipped from Monday's
Published 08 Jun, 2011 12:00am
Sterling up versus dollar

Sterling up versus dollar

Sterling rose against a broadly weak dollar on Tuesday, but gains were capped as weak UK data added to the view that softness in the economy will keep UK interest rates on hold for the foreseeable future. The pound slipped to a one-month low versus the eu
Published 08 Jun, 2011 12:00am
Yuan falls

Yuan falls

The yuan ended down slightly against the dollar on Tuesday, even though the People's Bank of China set the mid-point at a new peak, with dealer reporting large dollar demand from corporate clients. Spot yuan ended at 6.4810 versus the dollar, weaker than
Published 08 Jun, 2011 12:00am
UK's top share index soars

UK's top share index soars

Britain's top share index closed marginally higher on Tuesday as UK insurer Resolution's bumper cash return helped boost insurance-related firms, while integrated oils weighed on the downside. The market reacted positively to Resolution's commitment to re
Published 08 Jun, 2011 12:00am
European shares extend losing streak

European shares extend losing streak

European shares fell for the fifth straight day on Tuesday, with investors worried by slowing economic growth and the eurozone peripheral debt crisis. The FTSEurofirst 300 index of top European shares fell 0.1 percent to 1,104.05 points, the lowest close
Published 08 Jun, 2011 12:00am
Indian shares rise for second day

Indian shares rise for second day

Indian shares shrugged off a sluggish start and climbed for a second day on Tuesday, powered by energy major Reliance Industries and software services bellwether Infosys Technologies. A revival in buying by foreign institutional investors (FIIs) this mont
Published 08 Jun, 2011 12:00am
Treasuries decline

Treasuries decline

With no new economic data to guide them and light activity in the marketplace, Treasury debt prices drifted lower on Monday as traders prepared for auctions of $66 billion in notes and bonds starting on Tuesday. An early sell-off that took 30-year bonds a
Published 08 Jun, 2011 12:00am
Treasuries decline

Treasuries decline

With no new economic data to guide them and light activity in the marketplace, Treasury debt prices drifted lower on Monday as traders prepared for auctions of $66 billion in notes and bonds starting on Tuesday. An early sell-off that took 30-year bonds a
Published 08 Jun, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended 0.12 percent higher on Tuesday, reversing early losses, lifted by 2.14 percent gain in the communications and internet sub-index. Analysts however expected investors would stay cautious on electronics and tech shares as companies were
Published 08 Jun, 2011 12:00am
Most Southeast Asian markets flat

Most Southeast Asian markets flat

Major Southeast Asian stock markets closed flat to weaker in thin volume on Tuesday, led by Thailand, which hits its lowest in more than two months as fears over US growth and Europe's debt crisis led investors to cut holdings in the region. Thailand fell
Published 08 Jun, 2011 12:00am
S&P slips to lowest level since March 18

S&P slips to lowest level since March 18

The S&P 500 extended its slide to a fourth day on Monday, hitting its lowest level since March 18, as a spate of recent weak US data lent support to a bearish outlook for the economy. Sectors most closely associated with economic fortunes took the biggest
Published 08 Jun, 2011 12:00am
Tuesday's early afternoon trade: Wall Street rises

Tuesday's early afternoon trade: Wall Street rises

Wall Street bounced in light volume on Tuesday, a day after the S&P 500 fell to its lowest in over two months, with some describing the S&P's losses in the past five weeks as overdone. The Dow Jones industrial average gained 63.72 points, or 0.53 percent,
Published 08 Jun, 2011 12:00am
Nikkei average rises

Nikkei average rises

Tokyo shares on Tuesday snapped a three-day losing streak in which the market slid 3 percent, as hedge funds covered short positions and as foreigners bought back on cheap valuations, a factor that, some say, may support the market in coming weeks. Hedge
Published 08 Jun, 2011 12:00am
Australian shares unchanged

Australian shares unchanged

Australian stocks rebounded to end the day almost unchanged after the Reserve Bank of Australia held rates steady and sounded less likely to hike rates soon, a relief to struggling consumer stocks. Banks and retailers which had all been trading lower lead
Published 08 Jun, 2011 12:00am
Hong Kong shares slip, Shanghai gains

Hong Kong shares slip, Shanghai gains

Hong Kong shares fell a fourth consecutive session on Tuesday and commodity-related stocks underperformed, but Chinese coal firms pared losses late in the session, suggesting investors may find some value in the sector. The string of losses in the broad m
Published 08 Jun, 2011 12:00am
Seoul shares dip

Seoul shares dip

Seoul shares dipped on Tuesday as crude oil refiners including S-Oil lost ground, with sentiment pressured by a recent spate of weak US data supporting a bearish economic outlook. The Korea Composite Stock Price Index finished down 0.65 percent at 2,099.7
Published 08 Jun, 2011 12:00am
Saudi Arabia to lift oil supply, wants Opec to increase targets

Saudi Arabia to lift oil supply, wants Opec to increase targets

Saudi Arabia is planning to lift oil output sharply this month in a bid to rein in high fuel prices, even if Opec fails to raise production targets. Riyadh plans to pump another 500,000 barrels a day to reach at least 9.5 million bpd, its highest output f
Published 08 Jun, 2011 12:00am
Food price 'threat' for poor countries: UN agency

Food price 'threat' for poor countries: UN agency

Food prices are to remain high and volatile into 2012, presenting a "threat" to poor countries that will have to spend up to a third more on food imports this year, the UN food agency said on Tuesday. The Rome-based Food and Agriculture Organisation (FAO)
Published 08 Jun, 2011 12:00am
Eurozone retail sales stronger than forecast

Eurozone retail sales stronger than forecast

Eurozone retail sales were stronger than expected in April, rebounding from a March slump despite rising inflation and a European Central Bank interest rate rise, data showed on Tuesday. The European Union's statistics office Eurostat said retail sales in
Published 08 Jun, 2011 12:00am
Barclays provision covers potential Lehman cost

Barclays provision covers potential Lehman cost

British bank Barclays has made a provision for almost all of the net $1 billion it has been told to pay Lehman Brothers' bankruptcy trustee while it appeals against the order in a long-running row. Barclays said it would appeal against aspects of the ruli
Published 08 Jun, 2011 12:00am
Obama dismisses 'double-dip' recession threat

Obama dismisses 'double-dip' recession threat

US President Barack Obama Tuesday dismissed fears of a plunge into a "double-dip" recession and warned against "panic" over dismal economic data that is beginning to cloud his reelection hopes. In a news conference with German Chancellor Angela Merkel, Ob
Published 08 Jun, 2011 12:00am
EU must make tough decisions on Greek rescue: IMF

EU must make tough decisions on Greek rescue: IMF

Europe must take tough decisions before the IMF can release its next block of aid for Greece, the Fund warned on Tuesday, while ratings agencies and German banks cast doubt on whether private investors can be expected to help. Plans for a second internati
Published 08 Jun, 2011 12:00am
US openings fall, hiring rate eases

US openings fall, hiring rate eases

US job openings were harder to come by in April as private sector hiring ebbed, further evidence that the labour market remains precarious, Labour Department data showed on Tuesday. There were 2.97 million open positions in April, down from 3.12 million i
Published 08 Jun, 2011 12:00am
China agrees to end subsidies to wind power firms

China agrees to end subsidies to wind power firms

China has settled a green technology trade dispute with the United States by agreeing to stop subsidising wind power firms that use domestic parts at the expense of imports, US Trade Representative Ron Kirk said on Tuesday. "The United States is pleased t
Published 08 Jun, 2011 12:00am
Kuwait assets swell to $296 billion

Kuwait assets swell to $296 billion

The total assets of Opec member Kuwait swelled to 81 billion dinars ($296 billion) at the end of the past fiscal year on March 31, a lawmaker said after a parliamentary session on Tuesday. "The net financial assets held by Kuwait were 81 billion dinars,"
Published 08 Jun, 2011 12:00am
US may pursue weak dollar policy: China official

US may pursue weak dollar policy: China official

China should guard against risks from "excessive" holdings of US assets as Washington could pursue a policy to weaken the dollar, a senior currency regulator said in comments published on a website that briefly pushed the dollar lower. However, the commen
Published 08 Jun, 2011 12:00am
Sony unveils new handheld device

Sony unveils new handheld device

Sony Corp unveiled the pricing of its new PlayStation Vita handheld games device at a flashy Los Angeles event and immediately ran into criticism the gadget was too expensive. The show featured appearances by sports and rock stars and was a bid by the ele
Published 08 Jun, 2011 12:00am
Commerzbank raises 5.3 billion euro to repay state aid

Commerzbank raises 5.3 billion euro to repay state aid

Germany's Commerzbank said it had raised 5.3 billion euros ($7.7 billion) with a rights issue as part of previously announced measures to repay almost 14.3 billion euros in state aid. The subscription price amounted to 2.18 euros, with 99.94 percent of th
Published 08 Jun, 2011 12:00am
China's vegetable oils imports seen higher: Oil World

China's vegetable oils imports seen higher: Oil World

China's imports of vegetable oils are expected to rise to 3 million tonnes in the third quarter as it seeks to replenish its declining stocks, Oil World said on Tuesday. In recent weeks the Chinese government has made additional sales of vegetable oils -
Published 08 Jun, 2011 12:00am
No change on grain market

No change on grain market

Steadier trend was seen on the wholesale grain and oilseeds market on Tuesday while prices retain overnight levels.
Published 08 Jun, 2011 12:00am
Activity improves despite higher prices on cotton market

Activity improves despite higher prices on cotton market

Trading activity improved on the cotton market on Tuesday as some mills preferred to make deals despite the higher rates, dealers said. The Karachi Cotton Association (KCA) official spot rate retained the overnight level at Rs 8,500, they said. In Sindh a
Published 08 Jun, 2011 12:00am
Vietnam's coffee exports slow; prices fall

Vietnam's coffee exports slow; prices fall

Vietnam's coffee exports slowed this week on thin stocks and falling prices in London markets from recent peaks, and exports this month could fall by up to a third from May following strong loading earlier this year, traders said on Tuesday. June's coffee
Published 08 Jun, 2011 12:00am
Bangladeshi tea prices rise on higher demand

Bangladeshi tea prices rise on higher demand

The average price of Bangladeshi teas rose 1.2 percent to 177.06 taka ($2.4) per kg, driven by demand for good liquoring varieties, at the weekly auction on Tuesday, brokers said. Nearly 16 percent of the 1.07 million kg on offer remained unsold and were
Published 08 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 161,333 tonnes of cargo including 123,925 tonnes of import cargo, 37,408 tonnes of export cargo and 5,121 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 123,925 tonnes comp
Published 08 Jun, 2011 12:00am
India's May oilmeal exports jump nearly 85 percent

India's May oilmeal exports jump nearly 85 percent

India's annual oilmeal exports jumped nearly 85 percent in May, rising for the seventh straight month, on higher oilseed output and improved demand from traditional buyers in Asia, a trend that is likely to continue in the coming months.
Published 08 Jun, 2011 12:00am
Global vegetable oil output to fall short in 2011: Oil World

Global vegetable oil output to fall short in 2011: Oil World

Global vegetable oil production this year will not suffice to meet the needs of biodiesel industry, the output of which is expected to increase 10 percent from 2010, Oil World said on Tuesday. Drought in Europe has damaged this season's crop of rape seed,
Published 08 Jun, 2011 12:00am
US Plains HRW wheat bids firmer

US Plains HRW wheat bids firmer

Hard red winter wheat basis bids were firming Tuesday as the pace of the wheat harvest in the Plains accelerated amid hot and dry weather. Cutting continued in southern Kansas and the Kansas Wheat growers group said more than 350,000 bushels have been del
Published 08 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 08 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 08 Jun, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 08 Jun, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 08 Jun, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (June 07, 2011).

Published 08 Jun, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (June 07, 2011).

Published 08 Jun, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (June 07, 2011).

Published 08 Jun, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (June 07, 2011).

Published 08 Jun, 2011 12:00am
Pak-Afghan final talks on transit trade deal this week

Pak-Afghan final talks on transit trade deal this week

Pakistan and Afghanistan are holding top level final round of talks this week on the long-awaited transit trade agreement (Afghanistan-Pakistan Transit Trade Agreement-APTTA)), after which implementation of the pact will commence, well-informed sources to
Published 08 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (June 07, 2011).
Published 08 Jun, 2011 12:00am
Pak-Afghan final talks on transit trade deal this week

Pak-Afghan final talks on transit trade deal this week

Pakistan and Afghanistan are holding top level final round of talks this week on the long-awaited transit trade agreement (Afghanistan-Pakistan Transit Trade Agreement-APTTA)), after which implementation of the pact will commence, well-informed sources to
Published 08 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

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

Published 08 Jun, 2011 12:00am
Pak-Afghan final talks on transit trade deal this week

Pak-Afghan final talks on transit trade deal this week

Pakistan and Afghanistan are holding top level final round of talks this week on the long-awaited transit trade agreement (Afghanistan-Pakistan Transit Trade Agreement-APTTA)), after which implementation of the pact will commence, well-informed sources to
Published 08 Jun, 2011 12:00am
Qadhafi vows no surrender as Nato jets pound Tripoli

Qadhafi vows no surrender as Nato jets pound Tripoli

Libyan leader Moamer Qadhafi vowed on state television Tuesday that he would never surrender as Nato-led warplanes pounded Tripoli with one of the heaviest bombardments of the air war so far. In the audio message, his first intervention since he appeared
Published 08 Jun, 2011 12:00am
Qadhafi vows no surrender as Nato jets pound Tripoli

Qadhafi vows no surrender as Nato jets pound Tripoli

Libyan leader Moamer Qadhafi vowed on state television Tuesday that he would never surrender as Nato-led warplanes pounded Tripoli with one of the heaviest bombardments of the air war so far. In the audio message, his first intervention since he appeared
Published 08 Jun, 2011 12:00am
Assad should reform or step aside: Britain

Assad should reform or step aside: Britain

Syria's President Bashar al-Assad should bring in reforms or leave power, British Foreign Secretary William Hague said Tuesday after fresh violence in the country. "President Assad is losing legitimacy and should reform or step aside," Hague told parliame
Published 08 Jun, 2011 12:00am
Assad should reform or step aside: Britain

Assad should reform or step aside: Britain

Syria's President Bashar al-Assad should bring in reforms or leave power, British Foreign Secretary William Hague said Tuesday after fresh violence in the country. "President Assad is losing legitimacy and should reform or step aside," Hague told parliame
Published 08 Jun, 2011 12:00am
Obama sees 'inexorable' pressure on Qadhafi

Obama sees 'inexorable' pressure on Qadhafi

US President Barack Obama said Tuesday that Nato's mission in Libya was forging "inexorable" advances which meant it was only a matter of time before defiant Moamer Kadhafi's departure. German Chancellor Angela Merkel, at Obama's side in the White House,
Published 08 Jun, 2011 12:00am
Obama sees 'inexorable' pressure on Qadhafi

Obama sees 'inexorable' pressure on Qadhafi

US President Barack Obama said Tuesday that Nato's mission in Libya was forging "inexorable" advances which meant it was only a matter of time before defiant Moamer Kadhafi's departure. German Chancellor Angela Merkel, at Obama's side in the White House,
Published 08 Jun, 2011 12:00am
Urea disappears from markets in Punjab

Urea disappears from markets in Punjab

Urea fertiliser has, reportedly, disappeared from the markets in Punjab, including Sailkot's rice growing area, after the Ministry of Industries, headed by Pervez Elahi took the charge of the Ministry. The affairs of the Industries Ministry are being run
Published 08 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 07, 2011).

Published 08 Jun, 2011 12:00am
Urea disappears from markets in Punjab

Urea disappears from markets in Punjab

Urea fertiliser has, reportedly, disappeared from the markets in Punjab, including Sailkot's rice growing area, after the Ministry of Industries, headed by Pervez Elahi took the charge of the Ministry. The affairs of the Industries Ministry are being run
Published 08 Jun, 2011 12:00am
Urea disappears from markets in Punjab

Urea disappears from markets in Punjab

Urea fertiliser has, reportedly, disappeared from the markets in Punjab, including Sailkot''s rice growing area, after the Ministry of Industries, headed by Pervez Elahi took the charge of the Ministry. The affairs of the Industries Ministry are being run
Published 08 Jun, 2011 12:00am
Stop economic slide: MNAs

Stop economic slide: MNAs

The opposition and ruling coalition in the National Assembly on Tuesday underscored the need for signing a "charter of economy" with a view to improving the deteriorating economic situation. Taking part in the debate on budget 2011-12, Khawaja Muhammad As
Published 08 Jun, 2011 12:00am
Stop economic slide: MNAs

Stop economic slide: MNAs

The opposition and ruling coalition in the National Assembly on Tuesday underscored the need for signing a "charter of economy" with a view to improving the deteriorating economic situation. Taking part in the debate on budget 2011-12, Khawaja Muhammad As
Published 08 Jun, 2011 12:00am
Stop economic slide: MNAs

Stop economic slide: MNAs

The opposition and ruling coalition in the National Assembly on Tuesday underscored the need for signing a "charter of economy" with a view to improving the deteriorating economic situation. Taking part in the debate on budget 2011-12, Khawaja Muhammad As
Published 08 Jun, 2011 12:00am
ST on services as federal subject: concern expressed in Sindh Assembly

ST on services as federal subject: concern expressed in Sindh Assembly

MQM on Tuesday sought clarification from the federal government on sales tax on services transfer to the provinces, as the finance bill 2011-12 still contains the tax as the federal subject. The provincial legislator belonging to MQM in Sindh Assembly, Sa
Published 08 Jun, 2011 12:00am
ST on services as federal subject: concern expressed in Sindh Assembly

ST on services as federal subject: concern expressed in Sindh Assembly

MQM on Tuesday sought clarification from the federal government on sales tax on services transfer to the provinces, as the finance bill 2011-12 still contains the tax as the federal subject. The provincial legislator belonging to MQM in Sindh Assembly, Sa
Published 08 Jun, 2011 12:00am
ST on services as federal subject: concern expressed in Sindh Assembly

ST on services as federal subject: concern expressed in Sindh Assembly

MQM on Tuesday sought clarification from the federal government on sales tax on services transfer to the provinces, as the finance bill 2011-12 still contains the tax as the federal subject. The provincial legislator belonging to MQM in Sindh Assembly, Sa
Published 08 Jun, 2011 12:00am
IMF to review budgetary measures in July

IMF to review budgetary measures in July

The International Monetary Fund (IMF) will discuss details of the measures taken by the government in the budget during the upcoming talks with the Pakistani economic team in July 2011. Well-placed sources told Business Recorder on Tuesday that IMF
Published 08 Jun, 2011 12:00am
IMF to review budgetary measures in July

IMF to review budgetary measures in July

The International Monetary Fund (IMF) will discuss details of the measures taken by the government in the budget during the upcoming talks with the Pakistani economic team in July 2011. Well-placed sources told Business Recorder on Tuesday that IMF
Published 08 Jun, 2011 12:00am
IMF to review budgetary measures in July

IMF to review budgetary measures in July

The International Monetary Fund (IMF) will discuss details of the measures taken by the government in the budget during the upcoming talks with the Pakistani economic team in July 2011. Well-placed sources told Business Recorder on Tuesday that IMF
Published 08 Jun, 2011 12:00am
Pakistan and India decide to ease visa restrictions

Pakistan and India decide to ease visa restrictions

India High Commissioner in Pakistan, Sharat Subharwal, has said that a breakthrough in bilateral relations between India and Pakistan is expected as both countries have decided to ease visa restrictions.
Published 08 Jun, 2011 12:00am
Pakistan and India decide to ease visa restrictions

Pakistan and India decide to ease visa restrictions

India High Commissioner in Pakistan, Sharat Subharwal, has said that a breakthrough in bilateral relations between India and Pakistan is expected as both countries have decided to ease visa restrictions.
Published 08 Jun, 2011 12:00am
Pakistan and India decide to ease visa restrictions

Pakistan and India decide to ease visa restrictions

India High Commissioner in Pakistan, Sharat Subharwal, has said that a breakthrough in bilateral relations between India and Pakistan is expected as both countries have decided to ease visa restrictions.
Published 08 Jun, 2011 12:00am
Haqooq-e-Balochistan Package: one-fourth of 61 proposals implemented

Haqooq-e-Balochistan Package: one-fourth of 61 proposals implemented

The government has implemented one-fourth of 61 proposals contained in the Haqooq-e-Balochistan package, sources told Business Recorder, here on Tuesday. Senator Mian Raza Rabbani prepared the package that was divided into five categories: constitutional,
Published 08 Jun, 2011 12:00am
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