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Archive - 2011-06-14
NBP opens branch in Riyadh
Top News

NBP opens branch in Riyadh

KARACHI : Governor SAMA Dr Muhammad Bin Suleiman Al Jasser has inaugurated the first branch of National Bank of Pakista
Published 14 Jun, 2011 02:34pm
Latif resigns as Afghan coach
Cricket

Latif resigns as Afghan coach

KARACHI: Former Pakistan captain Rashid Latif said Tuesday he had resigned as Afghanistan cricket coach after his tea
Published 14 Jun, 2011 12:41pm
Thai PM fears to wins opposition
Asia

Thai PM fears to wins opposition

BANGKOK: Prime Minister Abhisit Vejjajiva said on Tuesday Thailand's election was a tight race but his party could still
Published 14 Jun, 2011 10:21am
Treasuries down before PPI
Financial

Treasuries down before PPI

LONDON : US Treasuries fell on Tuesday as signs China may be able to avoid a hard landing boosted equities at the ex
Published 14 Jun, 2011 10:14am
Spain consumer prices rise 3.4 pc in May
Top News

Spain consumer prices rise 3.4 pc in May

MADRID : Spain's consumer prices rose 3.4 percent in the year to May, official data showed Tuesday, the inflation rate b
Published 14 Jun, 2011 09:51am
US Congress votes against Libya funding
Top News

US Congress votes against Libya funding

WASHINGTON : The US House of Representatives vote late Monday to prohibit the use of funds for American military operati
Published 14 Jun, 2011 08:47am
Honda sees annual profit down 65 pc
Top News

Honda sees annual profit down 65 pc

TOKYO : Honda Motor Co on Tuesday forecast a worse-than-expected 65 percent fall in annual operating profit hampered by
Published 14 Jun, 2011 07:51am
India's May inflation at 9.06pct
Top News

India's May inflation at 9.06pct

NEW DELHI : India 's wholesale price index (WPI) rose an annual 9.06 percent in May, driven by higher manufactured good
Published 14 Jun, 2011 07:29am
Ted Baker sales rise
Industry

Ted Baker sales rise

LONDON : British designer clothing brand Ted Baker said its total sales for the 19 weeks of the year to date grew 15 per
Published 14 Jun, 2011 07:05am
Fuel shedding!
BR Research

Fuel shedding!

As if the electricity woes were not enough, the countrymen faced tough days last week -- battling to get their fuel tanks filled with gasoli
Published 14 Jun, 2011 12:00am
Go mobile, get insured!
BR Research

Go mobile, get insured!

Choosing the right time and place, they say, is of essence in politics, war and business. At a time when Pakistanis are feeling more and mor
Published 14 Jun, 2011 12:00am
Qubee introduces 'bill payment through easypaisa'

Qubee introduces 'bill payment through easypaisa'

Qubee has introduced nation-wide bill payment solution for its customers through the 12,000 easypaisa outlets in every nook and corner of the country. This was stated in a statement issued here Monday. "Customer convenience has been the prime focus of Qub
Published 14 Jun, 2011 12:00am
Two-stroke auto rickshaws: Deadline extended for one year

Two-stroke auto rickshaws: Deadline extended for one year

According to the official order issued by Secretary to Government of Sindh, Transport Department, the cut off date for plying two stroke auto rickshaws in the province has been extended up-to June 30, 2012. However, the order further said, ban on registra
Published 14 Jun, 2011 12:00am
SWA IDPs' repatriation from June 28

SWA IDPs' repatriation from June 28

Government has announced third phase for repatriation of IDPs of South Waziristan Agency, here on Monday. Talking to reporters, Assistant Political Agent Ladha Sub-Division Nawab Khan Saafi said that the registration of IDPs for 3rd phase will commence fr
Published 14 Jun, 2011 12:00am
NBP opens branch in Riyadh

NBP opens branch in Riyadh

National Bank of Pakistan is the largest bank of Pakistan with total capital of $1.496 billion (SAR5.610billion), total asset base of $12billions(SAR45billion) and earned net profit last year of $209million (SAR783.750million. National Bank is among a few
Published 14 Jun, 2011 12:00am
SHC issues notice in minerals royalty collection case

SHC issues notice in minerals royalty collection case

Sindh High Court on Monday issued notice to Secretary, and Director-General, Sindh Mines & Minerals Department, on inviting bids to award contract for collection of royalty on minerals at inflated rates.
Published 14 Jun, 2011 12:00am
KESC violating Nepra's laws: KCCI

KESC violating Nepra's laws: KCCI

Karachi Chamber of Commerce and Industry's (KCCI) Sub-committee on Pubic Sector Utilities, Gas and Power has observed that there is lack of awareness among masses about the rules and regulations the Karachi Electric Supply Company (KSEC) has to follow, as
Published 14 Jun, 2011 12:00am
Diagnosis of tax maladministration: FTO constitutes 28-man advisory body

Diagnosis of tax maladministration: FTO constitutes 28-man advisory body

The Federal Tax Ombudsman (FTO) has constituted a 28-member advisory committee to diagnose the systematic issues of tax maladministration and get suggestions on its sustainable remedies. The notification in this regard has been issued under section 18 of
Published 14 Jun, 2011 12:00am
SECP amends Companies Registration Offices Regulations-2003

SECP amends Companies Registration Offices Regulations-2003

The Securities and Exchange Commission of Pakistan vide its SRO No 599(I)/2011 dated June 13, placed on its web-site, amended the Companies (Registration Offices) Regulations, 2003. These regulations were prescribed in 2003 and are aimed at regulating and
Published 14 Jun, 2011 12:00am
KESC sets terms for talks with Prime Minister's body

KESC sets terms for talks with Prime Minister's body

The Karachi Electric Supply Company (KESC) has decided to enter into dialogue with Prime Minister's Committee after the government enforces its writ and ensures safe reopening of all KESC network centres, installations and business offices. Until that hap
Published 14 Jun, 2011 12:00am
Loadshedding, unrest having negative impact on children

Loadshedding, unrest having negative impact on children

Medical experts have said loadshedding and unrest in the metropolis are having negative impact on children's minds as an increase of up to 15 percent in fear, depression and unwillingness to study has been noticed amongst them. Pediatric Neurologist in NI
Published 14 Jun, 2011 12:00am
PHA team holds talks with Sindh Ministry of Tourism

PHA team holds talks with Sindh Ministry of Tourism

A meeting was held at a local hotel between the members of Pakistan Hotels Association containing prominent hoteliers and Executive Committee Members of PHA with Ministry of Tourism Sindh to discuss various issues pertaining to Hotel Industry and to redre
Published 14 Jun, 2011 12:00am
Hindu trader gunned down in Mastung

Hindu trader gunned down in Mastung

Unknown gunmen on Monday shot dead the Hindu trader in the main bazaar of Mastung. Police said that Hindu trader was killed when unidentified armed men opened fire at him. Deceased identified as Deewan was shifted to the nearby hospital for legal formalit
Published 14 Jun, 2011 12:00am
SSUET holds 'Mehfil-e-Durrani'

SSUET holds 'Mehfil-e-Durrani'

Sir Syed University of Engineering and Technology (SSUET) will have a chair in its Civil Engineering Department in the name of reputed engineer and founder of Aligarh and Peshawar Engineering Colleges, Baba Muhammad Ubaidullah Durrani. An announcement in
Published 14 Jun, 2011 12:00am
Two killed as vehicles plunge into stream in IHK

Two killed as vehicles plunge into stream in IHK

In occupied Kashmir, at least two people were killed, one went missing while another was rescued after two private vehicles plunged into a stream in Islamabad district. According to Kashmir Media Service, the vehicles fell into the Lidder stream due to sl
Published 14 Jun, 2011 12:00am
SU holds seminar on 'Criminal Behaviour'

SU holds seminar on 'Criminal Behaviour'

The Department of Criminology, University of Sindh and DIG Police organised one-day seminar on Criminal Behaviour, Investigation Techniques and Victim-dealing" at Shaikh Ayaz Auditorium of the varsity. The seminar was arranged to develop capacity of the p
Published 14 Jun, 2011 12:00am
APMF-EB organising 'YLDP 2011' from June 19

APMF-EB organising 'YLDP 2011' from June 19

All Pakistan Memon Federation-Education Board (APMF-EB) is organising an exhilarating and enlightening programme 'Youth Leadership Development' titled YLDP 2011 for the youth aged between 17-25 years. The programme has been stretched on eight consecutive
Published 14 Jun, 2011 12:00am
Inadequate funds may close shuttle facility in KU

Inadequate funds may close shuttle facility in KU

Growing financial constraints and poor infrastructure may oblige management of Karachi University to shutdown its shuttle facility for the students and teachers of the varsity, Business Recorder learnt on Monday. Students coming from outskirts and
Published 14 Jun, 2011 12:00am
Khyber Pakhtunkhwa striving to increase revenue resources

Khyber Pakhtunkhwa striving to increase revenue resources

Khyber Pakhtunkhwa Minister for Finance, Engineer Mohammad Hamayun Khan has said that the provincial government is making all-out efforts for increasing its own revenue resources. Addressing a post-budget press conference here on Monday he said that prese
Published 14 Jun, 2011 12:00am
Punjab's populist Budget

Punjab's populist Budget

Since Punjab is the dominant province of Pakistan, both in terms of resources and population, its annual budget affects a large population of the country and, therefore, is keenly awaited. Touted as "pro-poor and reforms-oriented", its Budget for FY-12 wa
Published 14 Jun, 2011 12:00am
Punjab's populist Budget

Punjab's populist Budget

Since Punjab is the dominant province of Pakistan, both in terms of resources and population, its annual budget affects a large population of the country and, therefore, is keenly awaited. Touted as "pro-poor and reforms-oriented", its Budget for FY-12 wa
Published 14 Jun, 2011 12:00am
Punjab's Budget an unsavoury spectacle

Punjab's Budget an unsavoury spectacle

The budget session of the Punjab Assembly was noteworthy for two events - one extremely pleasant and the other equally unpleasant. It was a delightful sight indeed when the newly-appointed Finance Minister, Kamran Michael - a Christian - came to present t
Published 14 Jun, 2011 12:00am
Democracy, ethics and economy

Democracy, ethics and economy

Our politicians, especially parliamentarians, are setting traditions that may later on be cited as highly damaging for democracy - the otherwise least bad governance system. What compounds the tragedy is the politicians' insistence on defending those flaw
Published 14 Jun, 2011 12:00am
A surplus budget?

A surplus budget?

At the outset, I feel a clarification is needed for those who have started to browse this article in the belief, emanating out of the topic, that this is a satire on the budget. Budget bashing is in full swing and there is hardly any justification for ano
Published 14 Jun, 2011 12:00am
Killing of an innocent

Killing of an innocent

Nobody with sane mind would support extra-judicial killing of anyone as by law a person is innocent unless proved otherwise. Looking at the TV footages on the killing of a young man in Karachi, the following points become apparent: The victim is seen tryi
Published 14 Jun, 2011 12:00am
NDMA updating monsoon contingency plan

NDMA updating monsoon contingency plan

The National Disaster Management Authority (NDMA) is in the process of updating monsoon contingency plan (MCP) through consultation with all the stakeholders and has prepared the draft which would be presented during the 5th pre-monsoon co-ordination meet
Published 14 Jun, 2011 12:00am
Assessment drive: returns filing by rich picks up in May-June 2011

Assessment drive: returns filing by rich picks up in May-June 2011

The Directorate General of Intelligence and Investigation, Inland Revenue, Federal Board of Revenue (FBR) has witnessed a positive trend in the returns filing by wealthy persons in May-June 2011 after launching of provisional assessment drive under sectio
Published 14 Jun, 2011 12:00am
'Pakistan's Golden Thrones': Argentine embassy arranges book launching

'Pakistan's Golden Thrones': Argentine embassy arranges book launching

The embassy of Argentine has arranged a book launching pertaining to "Pakistan's Golden Thrones", an Argentine journey written by Tommy Heinrich, on Monday. Pakistan's first biotech pharmaceutical manufacturing company, BF Bioscience Limited in collaborat
Published 14 Jun, 2011 12:00am
European Parliament links India FTA with Kashmir dispute

European Parliament links India FTA with Kashmir dispute

In a significant development the European Parliament (EP) has linked the Kashmir dispute with signing of Free Trade Agreement (FTA) with India. An Indian occupied Srinagar daily reported that the Para-33 of the resolution passed by the European Parliament
Published 14 Jun, 2011 12:00am
Man gunned down over old enmity

Man gunned down over old enmity

Unknown armed men gunned down a man over an old enmity here at Goth Awal Shah area of Jhal Magsi district on Monday. According to the Levies Force, the victim Abdul Qadir was on his way home when gunmen opened fire on him and fled from the scene. Resultan
Published 14 Jun, 2011 12:00am
TV crew seek Supreme Court protection

TV crew seek Supreme Court protection

The crew of a private TV channel on Monday urged Chief Justice Iftikhar Muhammad Chaudhry to order the relevant departments to provide security to their lives and properties. Zahid Essa, Islamabad Bureau Chief of Awaz TV said that he was on a routine visi
Published 14 Jun, 2011 12:00am
A unique case of misappropriation by AC Customs

A unique case of misappropriation by AC Customs

The Federal Board of Revenue (FBR) has detected a unique misappropriation case where a former Additional Collector of Customs tried to frame bogus charges of over Rs 460 million in a state warehouse for launching a deliberate character assassination campa
Published 14 Jun, 2011 12:00am
US MIDDAY: gold and silver tumble

US MIDDAY: gold and silver tumble

Gold fell 1 percent on Monday to hit its lowest level in three weeks, as weakness in crude oil and commodities amid worries over economic growth and a European debt crisis prompted selling across the board. Silver also tumbled 4 percent, poised to notch i
Published 14 Jun, 2011 12:00am
US MIDDAY: copper lower

US MIDDAY: copper lower

Copper prices lower early on Monday and hit their lowest level in three weeks as traders reduced risk amid persistent concerns about the recovery and in front of key inflation data due Tuesday from top-consumer China. A downgrade of Greece's credit rating
Published 14 Jun, 2011 12:00am
US MIDDAY: corn eases

US MIDDAY: corn eases

US corn futures pulled back on profit-taking and improved weather early on Monday, after a four-day rally pushed the market to the brink of $8 a bushel last week, an all-time high price. Commodity funds appeared to be booking profits after the spot corn c
Published 14 Jun, 2011 12:00am
US MIDDAY: sugar sputters

US MIDDAY: sugar sputters

Sugar futures fizzled out early on Monday on profit-taking and producer sales after raws hit a 7-week high and white sugar touched a 3-month top as port congestion in Brazil and Thailand combined with strong pre-Ramazan cash buying to boost both markets.
Published 14 Jun, 2011 12:00am
Gold posts biggest one-day fall in a month

Gold posts biggest one-day fall in a month

Gold fell to its lowest in more than a week on Monday as the euro eased against the dollar, but concerns about the eurozone debt crisis sustained investor interest in the precious metal as a store of value. Bullion fell almost 1 percent on Friday, its big
Published 14 Jun, 2011 12:00am
Gold gives up early gains in Asian trade

Gold gives up early gains in Asian trade

Gold gave up early gains on Monday despite a rebound in the euro against the US dollar, lacking impetus to surpass recent peaks and sustain an uptrend fuelled largely by a debt crisis in Europe. The physical market was deserted as jewellers were unsure ab
Published 14 Jun, 2011 12:00am
Liffe sugar flat, cocoa declines

Liffe sugar flat, cocoa declines

Liffe August white sugar closes unchanged at $723.50 a tonne on Monday after earlier rising to a three-month high for the front month of $734.40. Market suffered minor setback following recent strong advance but remains underpinned by port congestion in B
Published 14 Jun, 2011 12:00am
Malaysian palm oil rebounds

Malaysian palm oil rebounds

Malaysian palm oil futures snapped five days of losses on Monday, pulling back from a more than one-month low earlier in the session on hopes for higher overseas demand, although concerns about rising stock levels weighed. "Exports for the first ten days
Published 14 Jun, 2011 12:00am
Newmont sees gold above $1,600 on Asia demand

Newmont sees gold above $1,600 on Asia demand

Newmont Mining Corp, the world's No 2 gold producer, sees prices for the precious metal rising to $1,600 this year and above that next year, on growing demand from Asia's burgeoning middle class. Chief Executive Officer Richard O'Brien also said on Monday
Published 14 Jun, 2011 12:00am
Tokyo and Shanghai rubber fall

Tokyo and Shanghai rubber fall

Tokyo rubber futures fell to the lowest in almost three weeks on Monday, tracking falls in other commodities, but dealers said TOCOM prices could try to rally after the benchmark found support at 380 yen per kg. The benchmark rubber contract on the Tokyo
Published 14 Jun, 2011 12:00am
Brent up, crude falls

Brent up, crude falls

Brent edged up while US crude fell on Monday in volatile trading after a downgrade of Greece's credit rating fed jitters about economic growth and oil supply interruptions buffeted energy markets. Brent pared gains and briefly turned lower, while US crude
Published 14 Jun, 2011 12:00am
Copper slips to three-week low

Copper slips to three-week low

Copper fell to a three-week low on Monday, dragged down by signs of cooling in top consumer China and holidays across most of Europe, but prospects for demand revival later this year deterred sellers. Benchmark copper on the London Metal Exchange was untr
Published 14 Jun, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

London copper fell on Monday, after a slowdown in Chinese lending in May, illustrating the efficacy of Beijing's monetary tightening and accompanying risks to demand. The most-active August copper contract on the Shanghai Futures Exchange fell 0.6 percent
Published 14 Jun, 2011 12:00am
New York cotton settles mixed

New York cotton settles mixed

US cotton futures closed mixed Monday with late investor sales pressuring new-crop contracts while tight deliverable supplies boosted the spot contract, analysts said. The key December cotton contract on ICE Futures US lost 2.07 cents to close at $1.3158
Published 14 Jun, 2011 12:00am
US jury convicts three in hedge fund trial

US jury convicts three in hedge fund trial

The second trial to result from a massive investigation into insider trading at hedge funds ended Monday with the conviction of a trio of Wall Street traders on charges they paid hefty bribes to coax confidential information out of shady lawyers. A jury r
Published 14 Jun, 2011 12:00am
US jury convicts three in hedge fund trial

US jury convicts three in hedge fund trial

The second trial to result from a massive investigation into insider trading at hedge funds ended Monday with the conviction of a trio of Wall Street traders on charges they paid hefty bribes to coax confidential information out of shady lawyers. A jury r
Published 14 Jun, 2011 12:00am
Kharotabad incident: police surgeon severely tortured

Kharotabad incident: police surgeon severely tortured

Police surgeon, who conducted the autopsy of five foreigners shot dead by FC and police personnel in Khrotabad area of Quetta on May 17, was tortured by police personnel, Aaj News reported late Monday night. According to the channel, Dr Baqir Shah
Published 14 Jun, 2011 12:00am
China unveils landmark rail line, shrugs: off financing worries

China unveils landmark rail line, shrugs: off financing worries

China will this month launch what it is touting as the world's longest high-speed railway built in one go to link the country's two most important cities, officials said on Monday, shrugging off concerns over financing and high debt levels. Costing 220.9
Published 14 Jun, 2011 12:00am
Poland drops Chinese firm in highway deal

Poland drops Chinese firm in highway deal

Poland has dropped the first Chinese firm to win a major public works deal in the EU for a contract to build a stretch of highway over funding disputes, Poland's highway authority said Monday.
Published 14 Jun, 2011 12:00am
Maple joining TMX, Alpha, CDS to help markets

Maple joining TMX, Alpha, CDS to help markets

Combining Canada's stock exchanges with alternative trading system Alpha Group and the country's major clearing hub would benefit Canadian capital markets, the Maple Group consortium, which is making hostile take-over bid for stock exchange operator TMX G
Published 14 Jun, 2011 12:00am
Citi to pare stake in India's HDFC

Citi to pare stake in India's HDFC

Citigroup has decided to reduce its stake in India's top mortgage lender Housing Development Finance Corp to about 10 percent from 11.4 percent now via stock market deals, two sources with knowledge of the matter said on Monday. The sales prospectus will
Published 14 Jun, 2011 12:00am
China, Kazakhstan sign $1 billion currency swap deal

China, Kazakhstan sign $1 billion currency swap deal

China agreed a $1 billion currency swap deal with Kazakhstan on Monday and forecast that annual trade between the countries would almost double to $40 billion in the next four years. The three-year currency swap deal, the latest in a series of bilateral a
Published 14 Jun, 2011 12:00am
Japan's machinery orders fall

Japan's machinery orders fall

Japan's core machinery orders unexpectedly fell in April, suggesting a bumpy recovery from a devastating earthquake and tsunami as some companies delay capital spending until reconstruction-driven demand materialises. The economy is still expected to pick
Published 14 Jun, 2011 12:00am
Doha failure an 'academic' question: Lamy

Doha failure an 'academic' question: Lamy

The head of the World Trade Organisation on Monday dismissed the notion that the Doha round of trade negotiations was dead, and held out hope that a band of smaller countries might help prod India, China and the United States toward agreement. WTO Directo
Published 14 Jun, 2011 12:00am
Obama hits road seeking jobs

Obama hits road seeking jobs

US President Barack Obama hit the road Monday to tackle a jobs crisis clouding his reelection bid as the 2012 Republican pacesetter branded him indifferent to the misery of the unemployed. Obama was travelling to North Carolina and Florida, two swing stat
Published 14 Jun, 2011 12:00am
Need to prevent oil-fed inflation spiral: Trichet

Need to prevent oil-fed inflation spiral: Trichet

The European Central Bank needs to ensure recent oil and commodity price rises do not trigger inflationary problems, the bank's President Jean-Claude Trichet said on Monday, days after signalling a July interest rate hike. Speaking at an event organised b
Published 14 Jun, 2011 12:00am
Samsung, Apple to end Nokia's smartphone reign

Samsung, Apple to end Nokia's smartphone reign

Samsung Electronics Co Ltd will become the world's largest smartphone maker this quarter, overtaking struggling Nokia Oyj which has lead the market since 1996, Nomura said on Monday. In the next quarter Nomura sees Apple Inc also overtaking Nokia, pushing
Published 14 Jun, 2011 12:00am
SEC blocks private trade of 2 Chinese companies

SEC blocks private trade of 2 Chinese companies

US securities regulators moved to stop two Chinese companies from selling their private shares to investors on Monday, in their latest effort to crack down on questionable financial statements by overseas companies. The Securities and Exchange Commission
Published 14 Jun, 2011 12:00am
SEC blocks private trade of 2 Chinese companies

SEC blocks private trade of 2 Chinese companies

US securities regulators moved to stop two Chinese companies from selling their private shares to investors on Monday, in their latest effort to crack down on questionable financial statements by overseas companies. The Securities and Exchange Commission
Published 14 Jun, 2011 12:00am
Three New York former traders convicted on insider charges

Three New York former traders convicted on insider charges

Three former securities traders were convicted on Monday on all counts of fraud and conspiracy to commit insider trading on pending mergers, in another victory for prosecutors in their probe of suspicious trading on Wall Street. Brothers Zvi Goffer and Em
Published 14 Jun, 2011 12:00am
Travel misery as ash grounds Australia flights

Travel misery as ash grounds Australia flights

Tens of thousands of travellers were stranded Monday after ash from Chile's volcanic eruptions prompted Australian airlines to ground some domestic and international services. Strong winds have carried the ash more than half way around the world, over the
Published 14 Jun, 2011 12:00am
S&P downgrades Greece

S&P downgrades Greece

Standard & Poor's on Monday cut Greece's credit ratings by three notches, saying the country is increasingly likely to restructure its debt in a way the ratings agency would consider a default. S&P cut Greece's long-term sovereign credit ratings to CCC, o
Published 14 Jun, 2011 12:00am
Germany recognises Libya's rebel leadership

Germany recognises Libya's rebel leadership

Germany recognised Libya's rebel council as the legitimate representative of the Libyan people on Monday, giving heavyweight support to leaders poised to run the country if Muammar Qadhafi falls. The recognition, voiced by Foreign Minister Guido Westerwel
Published 14 Jun, 2011 12:00am
New quakes rock Christchurch

New quakes rock Christchurch

A series of powerful earthquakes, including one of magnitude 6.0, rocked New Zealand's stricken city of Christchurch on Monday causing further damage. More buildings came down and there was severe disruption to electricity and water supplies, with Christc
Published 14 Jun, 2011 12:00am
Berlusconi suffers fresh blow in referendums

Berlusconi suffers fresh blow in referendums

Prime Minister Silvio Berlusconi headed for a heavy defeat on Monday in four referendums after Italians turned out in large numbers for a vote he had urged them to boycott. The proposals to repeal Berlusconi-era legislation on nuclear power, water privati
Published 14 Jun, 2011 12:00am
US, Poland sign military aviation accord

US, Poland sign military aviation accord

Nato allies Poland and the United States signed a deal on Monday for the stationing of US airforce personnel on Polish soil, a symbolically important move for Warsaw as it keeps a nervous eye on neighbouring Russia. The accord, endorsed by US President Ba
Published 14 Jun, 2011 12:00am
Protesters burn police vehicles in southern China

Protesters burn police vehicles in southern China

Protesters in southern China's manufacturing hub torched emergency vehicles in an outburst of anger against police abuse of migrant workers, eyewitnesses said Monday. Sunday night's rioting followed three days of steadily growing unrest in the town of Xin
Published 14 Jun, 2011 12:00am
Lebanon announces new government

Lebanon announces new government

Lebanon's Prime Minister Najib Mikati announced on Monday a long-delayed new government dominated by allies of Iranian-backed Hezbollah, which is likely to cause alarm among Western powers. Mikati was appointed to form a government after Hezbollah and its
Published 14 Jun, 2011 12:00am
Rule of law index finds faults in China, Russia, US

Rule of law index finds faults in China, Russia, US

An annual survey of the rule of law around the world released Monday sees weak protections for fundamental rights in China, "serious deficiencies" in Russia, and problems with discrimination in the United States. Sweden and Norway scored highest on the Wo
Published 14 Jun, 2011 12:00am
Israeli minister vows for closer ties with China

Israeli minister vows for closer ties with China

Israeli Defence Minister Ehud Barak has pledged to work for closer ties with China's military during a visit to Beijing, China's Defence Ministry said Monday. Barak's statement came in a meeting Sunday with the chief of staff of the People's Liberation Ar
Published 14 Jun, 2011 12:00am
North, south Sudan agree to demilitarise Abyei

North, south Sudan agree to demilitarise Abyei

North and south Sudan have agreed in principle to demilitarise the Abyei region and to deploy Ethiopian peacekeeping troops in the area, an African Union official said on Monday. South Sudan is scheduled to become an independent country on July 9, but the
Published 14 Jun, 2011 12:00am
Erdogan focuses on consensus after big win

Erdogan focuses on consensus after big win

Turkey's Prime Minister Tayyip Erdogan will start a third term of one-party rule strengthened by Sunday's decisive election victory but also burdened by the need for consensus to push ahead with plans for a new constitution. Erdogan will have to focus fir
Published 14 Jun, 2011 12:00am
Murray wins Queen's Club Cup

Murray wins Queen's Club Cup

Briton Andy Murray withstood an athletic onslaught from Jo-Wilfried Tsonga to beat the Frenchman 3-6 7-6 6-4 and win the final of the Queen's Club championships on Monday. The climax of the Wimbledon warm-up event was being held a day late after rain wash
Published 14 Jun, 2011 12:00am
Faisal Bank Twenty20 tournament: Shahid Afridi to lead Karachi Dolphins

Faisal Bank Twenty20 tournament: Shahid Afridi to lead Karachi Dolphins

Pakistan's former beleaguered skipper Shahid Afridi, who is on a war with PCB, has been named to lead Karachi Dolphins in the upcoming Faisal Bank Super Eight T20 Cricket Tournament. However, it is anticipated that Shahid Afridi, who is fighting a legal b
Published 14 Jun, 2011 12:00am
Mexico claim group win in Gold Cup

Mexico claim group win in Gold Cup

Mexico sealed their Group A victory in the CONCACAF Gold Cup on Sunday with a 4-1 triumph over Costa Rica. Andres Guardado scored twice, and Rafael Marquez and Pablo Barrera added a goal apiece for Mexico, the defending champions who won all three of thei
Published 14 Jun, 2011 12:00am
FIFA refuses to move Bangladesh game from Pakistan

FIFA refuses to move Bangladesh game from Pakistan

FIFA has turned down a proposal from Bangladesh to relocate their World Cup 2014 qualifier from violence-hit Pakistan to Dhaka, the country's football federation president said on Monday. Bangladesh face Pakistan in the first leg of their Asian zone first
Published 14 Jun, 2011 12:00am
Lisicki beats Hantuchova to win Edgbaston title

Lisicki beats Hantuchova to win Edgbaston title

Germany's Sabine Lisicki made up for lost time by crushing in-form Daniela Hantuchova in the delayed final of the Edgbaston championship on Monday. The unseeded Lisicki won 6-3 6-2 to claim the title at the Wimbledon warm-up event, which needed an extra d
Published 14 Jun, 2011 12:00am
Worst day turns into greatest for Button

Worst day turns into greatest for Button

What started out as one of Jenson Button's worst day as a driver turned into his best as the Briton mounted one of Formula One's great charges to steal victory from Sebastian Vettel at the Canadian Grand Prix on Sunday. A gloomy, rainy day took a more mis
Published 14 Jun, 2011 12:00am
Tyson inducted into Hall of Fame

Tyson inducted into Hall of Fame

Mike Tyson, once the self-styled "baddest man on the planet," searched for worlds Sunday as a ring career marked by glory and infamy ended with his induction into the International Boxing Hall of Fame. An overcast, rainy day couldn't keep thousands of fan
Published 14 Jun, 2011 12:00am
Venus returns with impressive victory

Venus returns with impressive victory

American Venus Williams marked her return from an abdominal injury with an impressive 7-5 5-7 6-3 victory over Germany's Andrea Petkovic at the Eastbourne championships on Monday. The five-times Wimbledon champion, playing her first match since January's
Published 14 Jun, 2011 12:00am
Pakistan capable of retaining Junior Asia hockey cup

Pakistan capable of retaining Junior Asia hockey cup

Chief coach of Pakistan team Olympian Rana Mujahid Ali has said that his team was capable of retaining their title in Junior Asia Cup Hockey being staged in Singapore from June 17. "Our youngsters are in good spirits and there should be no problem for the
Published 14 Jun, 2011 12:00am
Cameron calls FIFA election a farce

Cameron calls FIFA election a farce

British Prime Minister David Cameron described the recent FIFA election as a farce on Wednesday and said the standing of world soccer's governing body had never sunk so low. FIFA president Sepp Blatter was re-elected for another four years last week but w
Published 14 Jun, 2011 12:00am
Korea extends match-fixing plea bargain deadline

Korea extends match-fixing plea bargain deadline

South Korea's professional soccer league will extend its two-week 'plea bargain' window for players to confess to match-fixing, local media reported on Monday. Battling an embarrassing scandal in which 10 players have been arrested for alleged involvement
Published 14 Jun, 2011 12:00am
New Zealand dollar skids, Aussie steadies

New Zealand dollar skids, Aussie steadies

The New Zealand dollar fell as much as one cent on Monday after a 5.5 magnitude earthquake rattled Christchurch, the site of a deadly quake in February, while the Australian dollar was softer amid worries about Europe's debt woes. The kiwi dollar skidded
Published 14 Jun, 2011 12:00am
Yuan slightly lower

Yuan slightly lower

The yuan closed slightly lower versus the dollar on Monday after the People's Bank of China fixed the mid-point a shade weaker for the third day as global economic woes pushed up the US Dollar Index over the weekend. Spot yuan closed at 6.4830 versus the
Published 14 Jun, 2011 12:00am
Money markets: ECB liquidity support to weigh on Eonia curve

Money markets: ECB liquidity support to weigh on Eonia curve

Overnight rates linked to the ECB's July meeting looked too high following the decision to continue pumping liquidity into banks, analysts said on Monday, despite the central bank signalling its intention to hike rates. The European Central Bank flagged i
Published 14 Jun, 2011 12:00am
Ringgit leads decline in Asian trade

Ringgit leads decline in Asian trade

The Malaysian ringgit breached a technical support line on Monday, leading declines in Asian emerging currencies, as investors continued to reduce exposure to riskier assets on worries about Greece's debt crisis and slackening global economic growth.
Published 14 Jun, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended weak after sliding to a one-week low on Monday due to a fragile euro, and traders expect the local unit to extend losses over the next couple of days, tracking the common currency as worries over the Greek debt crisis keep investors
Published 14 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 Monday. 73.85/73.95 (previous 73.90/73.90). Call Money Rates: 11.50-12.00 percent (previous 6.75-12.00 percent).
Published 14 Jun, 2011 12:00am
Euro hits record low versus Swiss franc in London

Euro hits record low versus Swiss franc in London

The euro hit a record low against the Swiss franc on Monday, as worries over attempts to deal with the Greek debt crisis made investors shy away from the common currency and seek relative safety in the franc. Volumes were on the lower side with many centr
Published 14 Jun, 2011 12:00am
Early trade in New York: Euro falls to new low

Early trade in New York: Euro falls to new low

The euro fell to a record low against the Swiss franc on Monday as worries over policymakers' attempts to handle the Greek debt crisis prompted a flight to the relative safety of the franc. The euro fell to as low as 1.2004 Swiss francs on trading platfor
Published 14 Jun, 2011 12:00am
Euro rises versus dollar in Asia

Euro rises versus dollar in Asia

The euro edged up against the dollar on Monday, bouncing back from an early drop as traders expected a bout of short-covering to give the single currency only a temporary reprieve. The euro sliced through stop-loss orders in very early Asian trade that dr
Published 14 Jun, 2011 12:00am
Pound climbs versus euro

Pound climbs versus euro

Sterling hit its strongest level in more than a week against the euro on Monday, helped by eurozone debt concerns and investors positioning for data on Tuesday that is expected to show elevated UK inflation. Against the dollar, sterling also rose and look
Published 14 Jun, 2011 12:00am
Miners help FTSE rise

Miners help FTSE rise

Miners dug deep to help lift Britain's FTSE 100 share index marginally on Monday, as bid talk swirled around Kazakh miner ENRC. ENRC rose 4.7 percent, outperforming a 0.2-percent rise on the British mining index, after the Sunday Times said commodities tr
Published 14 Jun, 2011 12:00am
New Zealand stocks drift lower

New Zealand stocks drift lower

New Zealand stocks closed lower on Monday, as Asian markets followed a weak lead from Wall St, while a holiday in neighbouring Australia kept trade muted. The benchmark top-50 index finished 13.9 points or 0.4 percent lower at 3,476.68, the lowest close i
Published 14 Jun, 2011 12:00am
Taiwan stocks decline

Taiwan stocks decline

Taiwan stocks finished down 1.41 percent on Monday at their lowest close since April 14, pressured by smartphone maker HTC Corp, which ended limit-down for a second consecutive session as investors sold on a potential downward order revision. HTC was one
Published 14 Jun, 2011 12:00am
European shares soar

European shares soar

European shares closed higher on Monday, bouncing from hefty falls in the previous week, with telecommunication stocks buoyed by gains in index heavyweight Vodafone which rose on the back of a target price hike. The pan-European FTSEurofirst 300 index pro
Published 14 Jun, 2011 12:00am
Indian shares barely changed

Indian shares barely changed

Indian shares closed barely changed on Monday, after a rise in European markets helped erase early losses, but sentiment was cautious ahead of inflation data due Tuesday and as investors prepared themselves for a tighter monetary policy this week. Relianc
Published 14 Jun, 2011 12:00am
Monday's early afternoon trade: Wall Street resumes slide

Monday's early afternoon trade: Wall Street resumes slide

The Nasdaq and S&P 500 fell on Monday, resuming a recent downward trend, with semiconductor shares leading declines on the Nasdaq and oil prices dragging down energy shares. A semiconductor index was down 1 percent, and remained below its April 2010 high,
Published 14 Jun, 2011 12:00am
Seoul shares flat

Seoul shares flat

Seoul shares ended nearly flat in volatile trade on Monday, with the market pressured by caution amid heightened signs of a global economic slowdown and due to falls in memory chip makers and crude oil refiners. The Korea Composite Stock Price Index ended
Published 14 Jun, 2011 12:00am
Southeast Asian stocks hit multi-week lows

Southeast Asian stocks hit multi-week lows

Southeast Asian stock markets hit multi-week lows on Monday as the weak outlook for the global economy dented sentiment and foreigners continued to sell in Thailand ahead of its general election next month. Caution about the corporate earnings outlook gre
Published 14 Jun, 2011 12:00am
Nikkei average falls

Nikkei average falls

The Nikkei stock average lost ground in thin trade on Monday, hurt by a surprise fall in Japanese machinery orders, further signs of a global economic slowdown and share declines for Toyota Motor Corp after a weaker-than-expected earnings forecast. Japan'
Published 14 Jun, 2011 12:00am
Hong Kong shares snap losing streak, China's index down

Hong Kong shares snap losing streak, China's index down

Hong Kong shares snapped a seven-day losing streak on Monday as banks led a late rally, setting up the benchmark for a possible bounce from oversold conditions if inflation data from China on Tuesday comes in better than expected. Property developers rema
Published 14 Jun, 2011 12:00am
UAE interbank offered rates at seven-year low

UAE interbank offered rates at seven-year low

Capital inflows into the United Arab Emirates, boosted by unrest in Bahrain, brought interbank offered rates to a seven-year low on Monday as liquidity stayed high in the Gulf Arab state's banking sector. Bank deposits in the world's No 3 oil exporter ros
Published 14 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 245,407 tonnes of cargo including 187,797 tonnes of import cargo and 57,610 tonnes of export cargo during last 48 hours ended at 0700 hours on Monday. The total import cargo of 187,797 tonnes comprised of 89,439 tonnes of containe
Published 14 Jun, 2011 12:00am
US Plains HRW wheat bids firmer

US Plains HRW wheat bids firmer

Hard red winter wheat basis bids were firmer on Monday with good demand noted for new-crop wheat. Protein levels were high, and millers were noted substituting high-protein hard winter wheat for higher-priced spring wheat. But as harvest advanced, miller
Published 14 Jun, 2011 12:00am
Drier weather slows Argentine wheat sowings

Drier weather slows Argentine wheat sowings

Favourable weather allowed Argentine farmers to finish 2010/11 soybean harvesting in some areas last week, but dryness and strong winds slowed down wheat planting work, the Agriculture Ministry said on Friday. Argentina is the world's No 3 soy exporter. T
Published 14 Jun, 2011 12:00am
US Midwest corn bids firm in east

US Midwest corn bids firm in east

Corn spot basis bids were firm at elevators and ethanol plants in the eastern US Midwest on Monday, supported by tight supplies and slow farmer sales, grain merchants said. Corn bids eased modestly at river terminals around the region on pressure from slo
Published 14 Jun, 2011 12:00am
US wheat futures up 1.2 percent

US wheat futures up 1.2 percent

US wheat futures rose 1.2 percent on Monday, while corn firmed to trade near last week's all-time highs as concerns over tightening grain supplies and harsh crop weather continued to buoy the grain markets. Soybeans lost more ground, pressured by expectat
Published 14 Jun, 2011 12:00am
Buyers opt to wait on hopes of lint prices to fall

Buyers opt to wait on hopes of lint prices to fall

Cotton of new crop in small size has started reaching the market, as a result the leading mills and spinners were on sidelines expecting the fall in the rates, dealers said on the cotton market on Monday. The Karachi Cotton Association (KCA) official spot
Published 14 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

July vaida was higher and December contract was unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The July contract that had closed at 1423.70 last week opened with a gain of 20 paisa at Rs 1423.90. The Dece
Published 14 Jun, 2011 12:00am
Thin business, a few rates change on grain market

Thin business, a few rates change on grain market

A few changes were seen on the on the wholesale grain market on Monday as both buyers and sellers failed to find meeting ground over the prices, dealers said. On the cereal side makai after maintaining a stable trend for several days, fell sharply due to
Published 14 Jun, 2011 12:00am
Message from Deputy High Commissioner of Bangladesh

Message from Deputy High Commissioner of Bangladesh

I am delighted to know that Total Communications, Pakistan is organising a mega event the "3rd International Conference & Exhibition-2011" on Bangladesh e-Banking & Mobile Commerce in Dhaka, Bangladesh on 15 June 2011. Leading international and local expe
Published 14 Jun, 2011 12:00am
Message from Chief Executive, TOTAL Communication

Message from Chief Executive, TOTAL Communication

When the initiative of holding e-banking conference in Bangladesh by a Pakistani-based company was discussed three years ago, it was taken lightly by most people. Slowly and gradually we kept our resolve and managed to hold the 1st e-banking conference in
Published 14 Jun, 2011 12:00am
Message from Chief Executive Officer ZRG International

Message from Chief Executive Officer ZRG International

It is a pleasure for me to address the most stakeholder, regulators, and professionals from our most dynamic and ever changing financial sector. This prestigious annual event of EBanking brings together able people and great ideas under one roof resulting
Published 14 Jun, 2011 12:00am
Achieve customer satisfaction with a contact management center

Achieve customer satisfaction with a contact management center

Customer Support and the entire Relationship Management has become the top priority for every customer focused financial services organisation. Companies have identified that increased competition in the market can cause serious impact on the sustenance,
Published 14 Jun, 2011 12:00am
About ZRG

About ZRG

ZRG International, the leading provider of Contact Center and Customer Relationship Management solutions, excels in providing IP contact center platforms for small, medium and large enterprises with the largest and most complex requirements, consolidating
Published 14 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 14 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 14 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 Monday (June 13, 2011).

Published 14 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 Monday (June 13, 2011).

Published 14 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 Monday (June 13, 2011).

Published 14 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 Monday (June 13, 2011).

Published 14 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (June 13, 2011).
Published 14 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (June 13, 2011).

Published 14 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (June 13, 2011).

Published 14 Jun, 2011 12:00am
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