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Archive - 2011-06-16
US jobless claims fall
North America

US jobless claims fall

WASHINGTON : New claims for unemployment benefits in the United States fell last week to the lowest level in a month,
Published 16 Jun, 2011 06:30pm
Forex reserves up to $17.518bn
Top News

Forex reserves up to $17.518bn

KARACHI: The foreign exchange reserves of the country increased by dollars 353.9 million to dollars 17.518 billon, the S
Published 16 Jun, 2011 01:28pm
Swiss franc hits record highs
Top News

Swiss franc hits record highs

LONDON : The euro fell more than one percent on the day to hit a record low of 1.1957 francs on trading platform EBS, wi
Published 16 Jun, 2011 11:42am
Cathay Pacific announces mobile services
Top News

Cathay Pacific announces mobile services

KARACHI : The Cathay Pacific Airways Thursday announced the launch of a customised airline application for the BlackBerr
Published 16 Jun, 2011 10:42am
Trim liquidity from markets
Financial

Trim liquidity from markets

FRANKFURT : The European Central Bank should remove additional money from markets to curb inflationary pressures, even i
Published 16 Jun, 2011 09:55am
Wen to visit Europe amid debt crisis
Top News

Wen to visit Europe amid debt crisis

BEIJING : Chinese Premier Wen Jiabao will visit Hungary , Britain and Germany from next week, the Chinese Foreign M
Published 16 Jun, 2011 09:21am
RWI institute forecast GDP 3.7pct
Top News

RWI institute forecast GDP 3.7pct

BERLIN : Germany 's RWI economic institute said on Thursday it had raised its economic growth forecast for this year
Published 16 Jun, 2011 09:04am
Pakistan Navy F22P Frigate launched
Top News

Pakistan Navy F22P Frigate launched

KARACHI : The Pakistan Navy’ fourth F22P Frigate was launched on Thursday. An impressive ceremony to this effect was
Published 16 Jun, 2011 09:02am
Citigroup says 360,000 accounts hacked
Top News

Citigroup says 360,000 accounts hacked

NEW YORK : US banking giant Citigroup had told its clients that about 360,000 credit cards were affected by a computer h
Published 16 Jun, 2011 08:54am
Japan region to cut power use
Asia

Japan region to cut power use

TOKYO : As Japan looks to save electricity this summer amid its ongoing nuclear crisis, one regional government has co
Published 16 Jun, 2011 08:43am
Bayliss to coach Sydney Sixers
Cricket

Bayliss to coach Sydney Sixers

SYDNEY : Former Sri Lanka coach Trevor Bayliss has been appointed the head coach of Australian Twenty20 team Sydney Sixe
Published 16 Jun, 2011 08:21am
Starving for protest in India
Asia

Starving for protest in India

NEW DELHI : The protest fast, used to historic effect by Mahatma Gandhi in his fight against British rule, has made a co
Published 16 Jun, 2011 08:09am
Russian envoy heads for Tripoli
Africa

Russian envoy heads for Tripoli

TRIPOLI : Russian envoy Mikhail Margelov was headed for Tripoli on Thursday seeking to mediate in Libya 's conflict,
Published 16 Jun, 2011 07:34am
Tokyo shares open lower
Financial

Tokyo shares open lower

TOKYO : Tokyo shares opened 1.0 percent lower on Thursday following a sharp fall on Wall Street overnight due to weaker-
Published 16 Jun, 2011 06:06am
Pakistan Navy F22P Frigate launched
Top News

Pakistan Navy F22P Frigate launched

KARACHI : The Pakistan Navy’ fourth F22P Frigate was launched on Thursday. An impressive ceremony to this effect was
Published 16 Jun, 2011 12:00am
Five killed in cross-border attack
Top News

Five killed in cross-border attack

KHAR: Scores of armed militants crossed the border from Afghanistan on Thursday and stormed a village, killing five civi
Published 16 Jun, 2011 12:00am
Tourism: forlorn but valuable
BR Research

Tourism: forlorn but valuable

For developing - especially least developing economies - tourism can contribute heavily to overall economic growth. Yet, in Pakistan, the se
Published 16 Jun, 2011 12:00am
Gas cuts may lead to decline in textile production

Gas cuts may lead to decline in textile production

Textile production is likely to decline by 30 to 35 percent due to ongoing gas loadshedding, it is learnt. Gas crisis has worsened in the country and the industry is suffering a loss of $1.52 billion per month, informed sources revealed to Business Rec
Published 16 Jun, 2011 12:00am
Two killed, two cars snatched in last 24 hours

Two killed, two cars snatched in last 24 hours

Two persons were killed, while many were deprived of two cars and other valuables in 17 crime incidents, reported in the Capital City during the last 24 hours. Islamabad police arrested 24 suspects during search operation in various areas and also nabbed
Published 16 Jun, 2011 12:00am
Oil and gas areas to get five percent production bonus

Oil and gas areas to get five percent production bonus

The Ministry of Petroleum and Natural Resources has decided to grant production bonus to those districts where oil and gas reserves have been discovered, according to White Paper 2011-12 of the Government of Khyber Pakhtunkhwa Finance Department.
Published 16 Jun, 2011 12:00am
Two-day Qawwali festival begins

Two-day Qawwali festival begins

Pakistan National Council of the Arts (PNCA) here late Tuesday started a 2-day Qawwali festival.
Published 16 Jun, 2011 12:00am
Weak banks drive FTSE to three-month low

Weak banks drive FTSE to three-month low

Britain's top shares ended lower on Wednesday, weighed down by banks on worries over the UK government's drive for tougher regulation and Europe's debt crisis, while commodity stocks also pressured the index. The FTSE 100 closed down 60.58 points, or 1.0
Published 16 Jun, 2011 12:00am
Indian shares slip

Indian shares slip

Indian shares fell nearly 1 percent to a three-week closing low on Wednesday, with banks leading the decline as investors braced for a likely interest rate hike at the central bank's policy review on Thursday.
Published 16 Jun, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares edged up 0.5 percent after volatile trade on Wednesday, helped by modest foreign investor buying and rallies in airlines and shipping firms, but rises were limited as continued debt issues in Greece kept investors cautious.
Published 16 Jun, 2011 12:00am
Weak US data, Greek debt fears hit European shares

Weak US data, Greek debt fears hit European shares

European share prices fell on Wednesday, with sentiment hit by disappointing manufacturing data from the United States, and peripheral eurozone stocks fell sharply on renewed concerns over debt troubles in Greece. The pan-European FTSEurofirst 300 index o
Published 16 Jun, 2011 12:00am
Hong Kong and Shanghai shares decline

Hong Kong and Shanghai shares decline

Hong Kong and China shares fell on Wednesday and could test lows for the year this week as investors keep selling heavily weighted bank stocks on tighter monetary policy and taking defensive positions in the market.
Published 16 Jun, 2011 12:00am
Treasuries plummet

Treasuries plummet

US Treasuries prices fell sharply on Tuesday as a rally in stocks undermined the safe-haven value of government debt and pushed yields above key levels, further spurring the sell-off. However, investors were reluctant to call Tuesday's slump in bond price
Published 16 Jun, 2011 12:00am
Treasuries plummet

Treasuries plummet

US Treasuries prices fell sharply on Tuesday as a rally in stocks undermined the safe-haven value of government debt and pushed yields above key levels, further spurring the sell-off. However, investors were reluctant to call Tuesday's slump in bond price
Published 16 Jun, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended up 0.03 percent on Wednesday, as gains in Yageo was capped by losses in smartphone maker HTC amid concern of its outlook. Yageo rose 0.68 percent, stabilising from a 6.4 percent tumble in the prior session. The Taiwan regulator express
Published 16 Jun, 2011 12:00am
US stocks post biggest gains in two months

US stocks post biggest gains in two months

US stocks posted their biggest gains in nearly two months on Tuesday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market. Many analysts said the rally was likely a one-day wonder.
Published 16 Jun, 2011 12:00am
Wednesday's early afternoon trade Wall Street tumbles

Wednesday's early afternoon trade Wall Street tumbles

US stocks sank on Wednesday as Greek debt woes, US data and disappointing profit forecasts fuelled bearish sentiment, putting the market back on its downtrend after a two-day rally. Bank stocks helped lead the decline after Moody's Investors Service said
Published 16 Jun, 2011 12:00am
Nikkei edges higher

Nikkei edges higher

The Nikkei average edged higher on Wednesday, helped by relief that US retail sales had not fallen as much as feared, but gains were capped at its 13-week moving average and volume remained low in a sign investors lack conviction about the economic outloo
Published 16 Jun, 2011 12:00am
US launches new drive to attract business investment

US launches new drive to attract business investment

With the US unemployment rate stubbornly above 9 percent, Commerce Secretary Gary Locke on Wednesday unveiled an initiative to encourage both US and foreign companies to create more jobs in the United States.
Published 16 Jun, 2011 12:00am
SEC proposes post-Madoff broker oversight plan

SEC proposes post-Madoff broker oversight plan

US securities brokers would be more closely scrutinised by auditors and be subject to stricter oversight of their handling of customers' assets under a plan proposed by federal regulators on Wednesday. The proposal by the Securities and Exchange Commissio
Published 16 Jun, 2011 12:00am
SEC proposes post-Madoff broker oversight plan

SEC proposes post-Madoff broker oversight plan

US securities brokers would be more closely scrutinised by auditors and be subject to stricter oversight of their handling of customers' assets under a plan proposed by federal regulators on Wednesday. The proposal by the Securities and Exchange Commissio
Published 16 Jun, 2011 12:00am
Iran to use 'all tools' to stop currency slide

Iran to use 'all tools' to stop currency slide

Iran's central bank announced a raft of measures to prop up the rial currency on Wednesday after a rush for dollars forced a devaluation. The measures, including raising domestic interest rates, come after the bank said earlier this week it was injecting
Published 16 Jun, 2011 12:00am
China's FDI inflows strong

China's FDI inflows strong

China's foreign direct investment inflows in the first five months of 2011 rose 23.4 percent from a year earlier to $48 billion, as global firms make inroads into the country's booming services sector. In May alone, China attracted $9.2 billion in FDI, up
Published 16 Jun, 2011 12:00am
British unemployment data paint mixed picture

British unemployment data paint mixed picture

Britain's jobless total fell by the biggest amount in more than a decade, but the claimant count experienced the largest gain in almost two years, according to mixed official data published on Wednesday.
Published 16 Jun, 2011 12:00am
100th conference of ILO: Putin boasts of Russian job gains

100th conference of ILO: Putin boasts of Russian job gains

Russian Prime Minister Vladimir Putin boasted about his record as a job creator at the UN labour agency on Wednesday, in an apparent bid to boost his standing ahead of elections. Putin's government pumped billions of dollars from oil reserves into Russia'
Published 16 Jun, 2011 12:00am
Saudi Algosaibi family backs down in UK bank spat

Saudi Algosaibi family backs down in UK bank spat

The Saudi Algosaibi family gave up their fight against claims from five banks linked to a high-profile $22 billion feud within their clan over the collapse of their financial empire. The family's Ahmad Hamad Algosaibi & Brothers partnership said it was dr
Published 16 Jun, 2011 12:00am
Debt crisis risks destabilising banks: ECB

Debt crisis risks destabilising banks: ECB

The eurozone debt crisis risks sparking a destabilising chain reaction through the bloc's financial sector, the European Central Bank said on Wednesday. In its twice yearly Financial Stability Review, the ECB urged those countries under European Union fis
Published 16 Jun, 2011 12:00am
Greek Prime Minister offers to quit after mass protests

Greek Prime Minister offers to quit after mass protests

Greece's prime minister offered to quit and make way for a national unity government after mass protests against a new austerity plan turned violent on Wednesday, with the country teetering on the brink of default.
Published 16 Jun, 2011 12:00am
EU slams Russia for dragging feet on lifting food ban

EU slams Russia for dragging feet on lifting food ban

The European Union executive Wednesday voiced "profound dissatisfaction" with Russia for dragging its feet on lifting a ban slapped on EU vegetables due to Germany's killer E. coli outbreak.
Published 16 Jun, 2011 12:00am
Blackstone sued over 2007 Extended Stay buyout

Blackstone sued over 2007 Extended Stay buyout

Blackstone Group LP was sued for allegedly siphoning $2.1 billion from the leveraged buyout of Extended Stay America Inc, a deal blamed for the hotel chain's bankruptcy, according to court documents.
Published 16 Jun, 2011 12:00am
'Big City Allowance' to be given to teachers: LHC assured

'Big City Allowance' to be given to teachers: LHC assured

Punjab secretary finance Muhammad Tariq Bajwa here on Wednesday assured the Lahore High Court (LHC) that "Big City Allowance" would be provided to teachers of city district government Lahore schools within seven days.
Published 16 Jun, 2011 12:00am
'Hospital converted into patient-friendly institution'

'Hospital converted into patient-friendly institution'

Medical Superintendent Services Hospital Dr Muhammad Javed has said that comprehensive steps have been taken to ensure maximum treatment facilities to patients and the hospital has been converted into a patient-friendly institution.
Published 16 Jun, 2011 12:00am
Move to develop network to address SMEs' financial needs

Move to develop network to address SMEs' financial needs

The State Bank of Pakistan, commercial banks and SCI-Pak may jointly develop an Energy & Resource-Efficient (E&RE) network/platform to address the financial needs of small and medium enterprises (SMEs). This consensus was arrived at in a roundtable meetin
Published 16 Jun, 2011 12:00am
LCCI, Stockholm Chamber vow to work together

LCCI, Stockholm Chamber vow to work together

The Lahore Chamber of Commerce and Industry (LCCI), Stockholm Chamber of Commerce and Swedish Ministry of Trade and Foreign Affairs would work hand in hand to expedite bilateral trade between Pakistan and Sweden by exploring new business avenues in the tw
Published 16 Jun, 2011 12:00am
Master plan devised for Mayo Hospital's renovation

Master plan devised for Mayo Hospital's renovation

Mayo Hospital Lahore, which is Pakistan's most prestigious and South Asia's second oldest institution will be renovated and a new master plan has been devised for the construction and rehabilitation of the hospitals' historical buildings.
Published 16 Jun, 2011 12:00am
Workshop

Workshop

Small and Medium Enterprises Development Authority (SMEDA) has pledged to continue pro-active role in strengthening collaboration with international agencies for development of Pakistan's SMEs".
Published 16 Jun, 2011 12:00am
'Financial constraints block implementation of PPD Act 2007'

'Financial constraints block implementation of PPD Act 2007'

Punjab law secretary here on Wednesday informed the Lahore High Court (LHC) that financial constraints were the reason of non-implementation of Punjab Public Defender Act 2007 (PPD Act 2007). This was stated in a report submitted before the chief justice
Published 16 Jun, 2011 12:00am
Malaysia to review and revise FTA this year

Malaysia to review and revise FTA this year

Malaysia is going to review and revise Free Trade Agreement (FTA) this year which was signed between Pakistan and Malaysian three years ago. Talking to newsmen at luncheon with media fraternity of Karachi, out going Consul General of Malaysian, Mohd Khali
Published 16 Jun, 2011 12:00am
DNA sexing in birds: UVAS research team develops facility

DNA sexing in birds: UVAS research team develops facility

The University of Veterinary and Animal Sciences (UVAS), institute of biochemistry and biotechnology research team has developed facility of "DNA sexing in birds", which is now available commercially for bird lovers.
Published 16 Jun, 2011 12:00am
BZU students attack Multan Press Club

BZU students attack Multan Press Club

An unruly mob of students of Bahauddin Zakariya University (BZU) Multan attacked Multan Press Club, damaging four cars and many motorcycles of journalists parked in building premises by hurling bricks, stones and batons. Four journalists sustained injurie
Published 16 Jun, 2011 12:00am
JI leaders concerned over delay in vice chancellors' appointments

JI leaders concerned over delay in vice chancellors' appointments

Jamaat-e-Islami Secretary General, Liaquat Baloch and Deputy Secretary General Dr Farid Ahmed Piracha called on Punjab Governor, Sardar Latif Khosa on Wednesday and expressed their concern over the delay in the appointment of regular vice chancellors in s
Published 16 Jun, 2011 12:00am
MTFA's Futsal tournament starts from today

MTFA's Futsal tournament starts from today

MTFA's intra-academy Futsal tournament will be held from June 16 to 19 and June 23 to 26 here at MTFA Football Ground. The kids of Group 'A', 'B' and 'C' will be eligible to participate in this tournament. It is great opportunity for the kids to get compe
Published 16 Jun, 2011 12:00am
Sales Tax Act 1990: FBR urged to withdraw amendment to Section 21

Sales Tax Act 1990: FBR urged to withdraw amendment to Section 21

Pakistan Industrial and Traders Associations Front (PIAF) has urged the Federal Board of Revenue (FBR) to withdraw amendment to section 21 of Sales Tax Act 1990, as the amendment is totally against the business norms and ethics.
Published 16 Jun, 2011 12:00am
'Elimination of terrorism necessary for country's prosperity'

'Elimination of terrorism necessary for country's prosperity'

Provincial Minister for Labour Haji Ehsaanuddin Qureshi has said that complete elimination of terrorism and extremism is necessary for the progress & prosperity of the country. He said that unemployment and poverty could be minimised through eradication o
Published 16 Jun, 2011 12:00am
Rs six billion for PEF in current budget

Rs six billion for PEF in current budget

Punjab Government had provided an amount of Rs 6 billion in the current budget for the Punjab Education Foundation (PEF), which would be utilised for the promotion of quality education in the poor and backward communities through public-private partnershi
Published 16 Jun, 2011 12:00am
Power shortfall stays at 4,000MW

Power shortfall stays at 4,000MW

Power shortfall has stayed at 4,000MW for the second consecutive day amid unparalleled rise in mercury during last 24 hours. Power generation was recorded at 14161MW against a demand of 18126MW, leaving the system with a shortfall of 3965MW. The power dis
Published 16 Jun, 2011 12:00am
Sister allowed to meet Sarbajeet Singh

Sister allowed to meet Sarbajeet Singh

The Lahore High Court (LHC) here on Wednesday allowed Dalbir Kur, to meet her brother, an Indian Spy Sarbajeet Singh on death row, at Kot Lakhpat jail. Chief Justice directed additional advocate general Muhammad Hanif Khatana to co-ordinate with home secr
Published 16 Jun, 2011 12:00am
Rs 30 billion set aside for pro-poor initiatives

Rs 30 billion set aside for pro-poor initiatives

The Punjab government has set aside Rs 30 billion in the budget for 2011-12 for pro-poor initiatives, including Ramazan Package, public transport, and wheat subsidy. According to 2011-12 budget documents, an allocation of Rs 30,000 million has been made f
Published 16 Jun, 2011 12:00am
Rs 30 billion set aside for pro-poor initiatives

Rs 30 billion set aside for pro-poor initiatives

The Punjab government has set aside Rs 30 billion in the budget for 2011-12 for pro-poor initiatives, including Ramazan Package, public transport, and wheat subsidy. According to 2011-12 budget documents, an allocation of Rs 30,000 million has been made f
Published 16 Jun, 2011 12:00am
Two held for dacoity

Two held for dacoity

Four unidentified armed bandits barged into the house of one Ashok, a local trader, and robbed 375 gram gold and cash after making the inmates hostage in the wee hours of Wednesday.
Published 16 Jun, 2011 12:00am
US has healthy companies, troubled politics: former IMF economist

US has healthy companies, troubled politics: former IMF economist

US companies are doing well but the country is faced with entrenched political divisiveness that makes reaching any kind of compromise on the budget deficit difficult, former IMF chief economist Raghuram Rajan said on Wednesday. He said US firms are enjoy
Published 16 Jun, 2011 12:00am
Japanese tsunami hits Canadian factories in April

Japanese tsunami hits Canadian factories in April

The Japanese tsunami dragged down Canadian manufacturing sales in April and home sales dipped in May, reports on Wednesday showed, offering further evidence the economy hit a soft patch in the second quarter.
Published 16 Jun, 2011 12:00am
IMF tells France keep deregulating, curb wages

IMF tells France keep deregulating, curb wages

France should reduce unemployment benefit, change policy to ensure that minimum wage rises remain moderate and ease the cost of labour by shifting the burden to indirect sales tax, or VAT, the IMF says.
Published 16 Jun, 2011 12:00am
Bangladesh hikes key interest rates

Bangladesh hikes key interest rates

Bangladesh's central bank hiked interest rates by 50 basis points on Wednesday, a week after the country's finance minister warned that tough moves would be taken to control inflation. The Bangladesh Bank raised the country's repo rate - at which it lends
Published 16 Jun, 2011 12:00am
Afridi pulls court case against PCB

Afridi pulls court case against PCB

Sacked former captain Shahid Afridi on Wednesday withdrew his court case against the Pakistan Cricket Board after the two sides apparently reached a deal likely to allow him to play abroad. Afridi pulled his petition demanding the courts reinstate his per
Published 16 Jun, 2011 12:00am
Tajik fans riot in match with president's son

Tajik fans riot in match with president's son

At least 12 people were injured when Tajik football fans clashed in the south-east of the country following a match involving the president's son, officials said Wednesday. Fans of the two clubs clashed after local team Ravshan lost 1-0 to Istiklol of the
Published 16 Jun, 2011 12:00am
PFF secretary leaves for Kuala Lumpur

PFF secretary leaves for Kuala Lumpur

Pakistan Football Federation (PFF) Secretary Ahmed Khan Lodhi left here on Wednesday for Kuala Lumpur, to attend the 1st meeting of the Organising Committee for AFC Youth Competitions Committee being held on June 17.
Published 16 Jun, 2011 12:00am
Men more excited about women's World Cup

Men more excited about women's World Cup

Men are more excited about the upcoming women's football World Cup than women, a poll published in host country Germany showed Wednesday, 11 days before the event kicks off. Sixty-three percent of men surveyed are looking forward to the event from June 26
Published 16 Jun, 2011 12:00am
Nadal, Wozniacki head Wimbledon seeds

Nadal, Wozniacki head Wimbledon seeds

Defending champion Rafael Nadal and women's world number one Caroline Wozniacki were named top seeds for next week's Wimbledon Championships here Wednesday. Tournament officials mirrored the current world rankings for their top five seeds in the men's and
Published 16 Jun, 2011 12:00am
Final Test today: Strauss promises to 'come to the party'

Final Test today: Strauss promises to 'come to the party'

England captain Andrew Strauss insisted he was determined to "come to the party" with the bat in the third and final Test against Sri Lanka at the Rose Bowl. The 34-year-old left-handed opener, who made a hundred on Test debut, has managed just one centur
Published 16 Jun, 2011 12:00am
Sangakkara ready for final captaincy tilt

Sangakkara ready for final captaincy tilt

Former skipper Kumar Sangakkara admitted he was a reluctant captain of Sri Lanka heading into the third and final Test against England at the Rose Bowl.
Published 16 Jun, 2011 12:00am
Malaysia charges Singaporean with match-fixing

Malaysia charges Singaporean with match-fixing

Malaysia charged a Singaporean on Wednesday with match-fixing, the second such case in connection with a national football tournament. Malaysia's anti-graft body said in a statement that bookie R.K. Rajendran was charged with bribery totalling more than 2
Published 16 Jun, 2011 12:00am
Yasir fails to qualify for Kuwait Open main rounds

Yasir fails to qualify for Kuwait Open main rounds

Lahore based Yasir Butt failed to join compatriots - Aamir Atlas Khan and Farhan Mehboob in the main rounds of Jena International Championship, underway in Kuwait, after he lost his qualifying final match to Malaysian Ivan Yuen.
Published 16 Jun, 2011 12:00am
Pakistan's team leave for Special Olympic on June 20

Pakistan's team leave for Special Olympic on June 20

Pakistan's special athletes contingent will be leaving for Athens on June 20 to feature in Special Olympics World Summer Games. Pak contingent is comprised of 90 special athletes. Pak athletes will be taking part in different events. Etihad Airways, the n
Published 16 Jun, 2011 12:00am
Serena comeback ended by Zvonareva

Serena comeback ended by Zvonareva

Serena Williams hit the wall in her career comeback at Eastbourne Wednesday after only one victory, with top seed Vera Zvonareva sending the American back to the practise courts. The Russian's 3-6, 7-6 (7/5), 7-5 three-hour triumph was revenge for a Wimbl
Published 16 Jun, 2011 12:00am
USA reach Gold Cup quarter-finals

USA reach Gold Cup quarter-finals

Jozy Altidore scored the lone goal in a 1-0 victory over Guadeloupe on Tuesday as the United States seized the last quarter-final berth on offer in the CONCACAF Gold Cup. The United States advance as the runners-up in Group C behind Panama, who sealed the
Published 16 Jun, 2011 12:00am
Venus vaults into Eastbourne quarter-final

Venus vaults into Eastbourne quarter-final

Venus Williams moved closer to top form with a 6-3, 6-2 defeat of Ana Ivanovic in a battle of former number one players at the Eastbourne grass-court event on Wednesday. Victory for the five-time Wimbledon winner, who is joining her sister Serena in a ret
Published 16 Jun, 2011 12:00am
Oilcake market rates

Oilcake market rates

July vaida was higher and December contract was unchanged on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The July contract that had closed at 1423.50 opened with gain of 20 paisa at Rs 1423.70. The December vaid
Published 16 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 91,767 tonnes of cargo including 58,954 tonnes of import cargo, 32,813 tonnes of export cargo and 3,117 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 58,954 tonnes compr
Published 16 Jun, 2011 12:00am
Vietnam's coffee stocks thin, hindered to have new deals

Vietnam's coffee stocks thin, hindered to have new deals

Thinning stocks in Vietnam, the world's top robusta coffee producer, have hindered new deals this week and stopped exporters purchasing from farmers for loading, which has in turn lifted export costs, traders said on Tuesday.
Published 16 Jun, 2011 12:00am
Top Kenyan tea price steady

Top Kenyan tea price steady

The average price of Kenya's top grade tea held steady at $3.11 during this week's auction, but it was expected to rise in the weeks ahead, brokers said on Wednesday. Mombasa-based Africa Tea Brokers (ATB) said in its weekly market report there was strong
Published 16 Jun, 2011 12:00am
Thin business seen on grain market

Thin business seen on grain market

Low business was seen on the wholesale grain market on Wednesday as buyers were sidelined mainly because of higher prices, dealers said. On the cereal side wheat old (Bardan) was quoted at Rs 2500 and wheat new (bardan) was registered at Rs 2515, other it
Published 16 Jun, 2011 12:00am
SRW wheat export premiums firm at US Gulf Coast

SRW wheat export premiums firm at US Gulf Coast

Soft red winter wheat export premiums at the US Gulf Coast were steady to firm on Tuesday on renewed demand from Egypt's government buyer which bought its first wheat on the world market in four months, traders said. US hard red winter wheat premiums were
Published 16 Jun, 2011 12:00am
India's May vegetable oil imports up

India's May vegetable oil imports up

India's vegetable oil imports in May rose to 664,133 tonnes from 475,123 tonnes in the previous month, a leading trade body said on Wednesday, the second straight monthly rise which was slightly higher than an average Reuters poll forecast. Traders had be
Published 16 Jun, 2011 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold fell early on Wednesday, as a sharp pullback in global equity markets amid mounting worries that Greece's debt crisis may escalate triggered selling in commodities across the board.
Published 16 Jun, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper lower on Wednesday, failing to extend earlier gains into a two-day rally, as an stronger dollar and more uneven US data spurred investors to seek out safer-havens for their money. In New York, the benchmark September COMEX copper contract dipped 3.
Published 16 Jun, 2011 12:00am
US MIDDAY: grain markets down

US MIDDAY: grain markets down

US corn futures fell on Wednesday for the biggest three-day slide in about seven months, and fell briefly to their 30-cent limit, as a surge in the dollar and worries about softening demand from the ethanol sector spurred fund selling. Soyabeans turned lo
Published 16 Jun, 2011 12:00am
US MIDDAY: sugar climbs

US MIDDAY: sugar climbs

Sugar futures climbed early on Wednesday as port congestion in key exporters Brazil and Thailand buoyed values, while coffee was mixed and cocoa lost ground in subdued business. New York's July raw sugar contract gained 0.15 cent to trade at 25.30 cents p
Published 16 Jun, 2011 12:00am
Gold recoups losses in European trade

Gold recoups losses in European trade

Gold was set for a second daily rally on Wednesday, having erased earlier losses when US equities tumbled in opening trade following downbeat US economic data and as the Greek debt crisis escalated.
Published 16 Jun, 2011 12:00am
Gold extends gains in Asia

Gold extends gains in Asia

Gold rose further on Wednesday on inflation fears ignited by recent strong Chinese economic data, lingering worries over debt problems in Europe and the United States, as well as firm equities.
Published 16 Jun, 2011 12:00am
US gold snaps losing streak

US gold snaps losing streak

Gold rose on Tuesday, snapping a two-day losing streak, boosted by simmering inflation pressures in China and sharp gains in industrial commodities amid better-than-expected US retail sales.
Published 16 Jun, 2011 12:00am
Oil dives over four percent

Oil dives over four percent

Oil slid more than 4 percent on Wednesday, as signs of further economic weakness fed demand worries and a rising dollar weighed, triggering technical sell stops and sending US crude to its lowest since February.
Published 16 Jun, 2011 12:00am
Liffe coffee rises

Liffe coffee rises

Liffe September robusta coffee rebounded to end up $41 at $2,432 a tonne on Wednesday after falling sharply on Tuesday to their lowest level for the benchmark second month since late April. Liffe August white sugar closes $3.50 higher at $706.50 per tonne
Published 16 Jun, 2011 12:00am
US soyabean lower

US soyabean lower

Chicago Board of Trade soyabean futures closed lower on Tuesday, pressured by better US crop weather and news China was again raising its bank reserve requirement in an attempt to tame inflation.
Published 16 Jun, 2011 12:00am
Tokyo, Shanghai rubber soar

Tokyo, Shanghai rubber soar

Tokyo rubber futures rose on Wednesday, supported by the prospect of good demand from China, dealers said, after seeing industrial output data, but gains were limited by weaker oil prices. The benchmark rubber contract on the Tokyo Commodity Exchange for
Published 16 Jun, 2011 12:00am
Malaysian palm oil soars

Malaysian palm oil soars

Malaysian palm oil futures rose half percent on Wednesday on robust export growth although traders bet expected stronger production of overall vegetable oil supplies in the coming months could still keep stocks growing and prices weak.
Published 16 Jun, 2011 12:00am
New York sugar falls

New York sugar falls

Raw sugar futures pulled back from the previous day's seven-week high to close lower on Tuesday as producer's sold the peaks, and white sugar was hit by the likelihood of more Indian exports. Robusta coffee closed lower on record certified stocks and the
Published 16 Jun, 2011 12:00am
Stronger dollar limits metals' gains

Stronger dollar limits metals' gains

Copper eased on Wednesday due to a strong dollar and patchy US data that fuelled worries the world's top economy could be entering a protracted soft patch with rising inflation. Three-month copper on the London Metal Exchange ended at $9,154 a tonne from
Published 16 Jun, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

The most-active August copper contract on the Shanghai Futures Exchange closed 1.3 percent higher at 68,610 yuan per tonne on Wednesday, catching up with overnight gains in London. "The market is in a wait-and-see mode. Asian investors are probably waitin
Published 16 Jun, 2011 12:00am
US copper up three percent

US copper up three percent

Copper rose 3 percent on Tuesday, its biggest one-day rally in nearly three months, driven by data from China and the United States that pointed to better growth prospects for the world's two largest economies. In New York, the July COMEX copper contract
Published 16 Jun, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

US cotton futures settled lower on Wednesday on investor liquidation as a commodity-wide sell-off spilled into the market, analysts said. Fundamentally, cotton is still looking at one of the worst droughts in a century damaging cotton crops in Texas, the
Published 16 Jun, 2011 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 16 Jun, 2011 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.
Published 16 Jun, 2011 12:00am
Donors' allegations

Donors' allegations

United States Deputy Secretary of State for Management and Resources Thomas R. Nides during his three-day visit to Pakistan mentioned the release of 190 million dollars for the flood-affected people of Pakistan under the Citizens' Damage Compensation Prog
Published 16 Jun, 2011 12:00am
KP budget

KP budget

KP's Finance Minister Muhammad Humayun Khan presented the provincial budget amidst tight security bringing the province's serious ongoing security concerns to the forefront and thereby fully justifying the highest allocation in current expenditure for the
Published 16 Jun, 2011 12:00am
Enough!

Enough!

The increasing incidence of violence involving our state agencies, it hardly needs saying, is symptomatic of a systemic problem. The murder in cold blood of a young man in Karachi came as a huge shock to us all as we could see it on our television screens
Published 16 Jun, 2011 12:00am
Deconstructing a statutory proviso

Deconstructing a statutory proviso

Rules of interpreting legal enactments are generally well-known to lawyers, judges, law teachers and law students. It is now a full branch of legal knowledge.1 In some jurisdictions there are enactments dealing with interpretation or specifying legal prin
Published 16 Jun, 2011 12:00am
Make Pakistan full member of SCO: Zardari speaks at Astana summit

Make Pakistan full member of SCO: Zardari speaks at Astana summit

Pakistan will work together with Shanghai Co-operation Organisation (SCO) member states to achieve shared prosperity, peace and defeat terrorism, President Asif Ali Zardari said. Addressing SCO Summit on Wednesday in Astana, capital of Kazakhstan, he said
Published 16 Jun, 2011 12:00am
Tunisians look to war-torn Libya for work

Tunisians look to war-torn Libya for work

Sitting on a cafe terrace in an impoverished Tunisian town, Mohamed Gasmi has little else to do but ponder his meagre prospects in the newly liberated north African country. "I've been thinking about Libya," despite the ongoing conflict there, instead of
Published 16 Jun, 2011 12:00am
Make Pakistan full member of SCO: Zardari speaks at Astana summit

Make Pakistan full member of SCO: Zardari speaks at Astana summit

Pakistan will work together with Shanghai Co-operation Organisation (SCO) member states to achieve shared prosperity, peace and defeat terrorism, President Asif Ali Zardari said. Addressing SCO Summit on Wednesday in Astana, capital of Kazakhstan, he said
Published 16 Jun, 2011 12:00am
Corps Commanders' declaration

Corps Commanders' declaration

This refers to the contents of a press release by the Inter Services Public Relations, (ISPR), following the 139th. Corps Commanders Conference, held recently, outlining the decisions taken during the conference and made public in the form of a declaratio
Published 16 Jun, 2011 12:00am
Krishna meets Zardari

Krishna meets Zardari

Ahead of Pakistan, India foreign secretary-level talks later this month in Islamabad, Indian External Affairs Minister S M Krishna met President Asif Ali Zardari here at a concert organised for leaders attending Shanghai Co-operation Organisation SCO Summ
Published 16 Jun, 2011 12:00am
Krishna meets Zardari

Krishna meets Zardari

Ahead of Pakistan, India foreign secretary-level talks later this month in Islamabad, Indian External Affairs Minister S M Krishna met President Asif Ali Zardari here at a concert organised for leaders attending Shanghai Co-operation Organisation SCO Summ
Published 16 Jun, 2011 12:00am
Pakistan warns floods could affect millions

Pakistan warns floods could affect millions

Pakistan warned on Wednesday that floods triggered by monsoon rains could affect millions more people this year, but claimed it was better preparedafter a massive humanitarian crisis in 2010. Last year, monsoon-triggered floods affected up to 21 million p
Published 16 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 16 Jun, 2011 12:00am
Pakistan warns floods could affect millions

Pakistan warns floods could affect millions

Pakistan warned on Wednesday that floods triggered by monsoon rains could affect millions more people this year, but claimed it was better preparedafter a massive humanitarian crisis in 2010. Last year, monsoon-triggered floods affected up to 21 million p
Published 16 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 16 Jun, 2011 12:00am
Ties 'complicated' but strong: White House

Ties 'complicated' but strong: White House

The Obama administration Wednesday acknowledged that US relations with Islamabad were "complicated", but said ties remained strong after news that CIA informants had been arrested in Pakistan. "The co-operation that we do get is vital and essential to our
Published 16 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 Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Ties 'complicated' but strong: White House

Ties 'complicated' but strong: White House

The Obama administration Wednesday acknowledged that US relations with Islamabad were "complicated", but said ties remained strong after news that CIA informants had been arrested in Pakistan. "The co-operation that we do get is vital and essential to our
Published 16 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 Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Support for Pakistan questioned

Support for Pakistan questioned

US Defence Secretary Robert Gates acknowledged that "most countries lie to each other" as he faced renewed questions in Congress on Wednesday about whether Pakistan and Afghanistan were playing a double game with Washington.
Published 16 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 Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Support for Pakistan questioned

Support for Pakistan questioned

US Defence Secretary Robert Gates acknowledged that "most countries lie to each other" as he faced renewed questions in Congress on Wednesday about whether Pakistan and Afghanistan were playing a double game with Washington.
Published 16 Jun, 2011 12:00am
New York Times story rejected

New York Times story rejected

Pakistan army has rejected the New York Times reports alleging that an Army officer (Major) was among the five CIA informants who were arrested for spying on Osama bin Laden months before the US raid on May 2.
Published 16 Jun, 2011 12:00am
New York Times story rejected

New York Times story rejected

Pakistan army has rejected the New York Times reports alleging that an Army officer (Major) was among the five CIA informants who were arrested for spying on Osama bin Laden months before the US raid on May 2.
Published 16 Jun, 2011 12:00am
Sabic to supply 100,000 tons of urea in July

Sabic to supply 100,000 tons of urea in July

The Saudi Arabia Basic Industry Corporation (Sabic) has regretted immediate supply of urea against the remaining $46 million credit facility of Saudi Fund for Development. However, it agreed to supply 50,000 tons urea in July.
Published 16 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 Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Sabic to supply 100,000 tons of urea in July

Sabic to supply 100,000 tons of urea in July

The Saudi Arabia Basic Industry Corporation (Sabic) has regretted immediate supply of urea against the remaining $46 million credit facility of Saudi Fund for Development. However, it agreed to supply 50,000 tons urea in July.
Published 16 Jun, 2011 12:00am
Sabic to supply 100,000 tons of urea in July

Sabic to supply 100,000 tons of urea in July

The Saudi Arabia Basic Industry Corporation (Sabic) has regretted immediate supply of urea against the remaining $46 million credit facility of Saudi Fund for Development. However, it agreed to supply 50,000 tons urea in July.
Published 16 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Prices of food items stagnant, non-food's move up

Prices of food items stagnant, non-food's move up

The Federal Cabinet under the chairmanship of Prime Minister Syed Yousuf Raza Gilani met here on Wednesday. The Cabinet reviewed the implementation status of Cabinet decisions regarding Ministries of Industries, Information Technology and Telecom Division
Published 16 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (June 15, 2011).
Published 16 Jun, 2011 12:00am
Prices of food items stagnant, non-food's move up

Prices of food items stagnant, non-food's move up

The Federal Cabinet under the chairmanship of Prime Minister Syed Yousuf Raza Gilani met here on Wednesday. The Cabinet reviewed the implementation status of Cabinet decisions regarding Ministries of Industries, Information Technology and Telecom Division
Published 16 Jun, 2011 12:00am
Prices of food items stagnant, non-food''s move up

Prices of food items stagnant, non-food''s move up

The Federal Cabinet under the chairmanship of Prime Minister Syed Yousuf Raza Gilani met here on Wednesday. The Cabinet reviewed the implementation status of Cabinet decisions regarding Ministries of Industries, Information Technology and Telecom Division
Published 16 Jun, 2011 12:00am
AGP detects Rs 58.28 billion irregularities in NHA

AGP detects Rs 58.28 billion irregularities in NHA

The Auditor General of Pakistan (AGP) has detected massive irregularities, embezzlements, corruption, losses and mismanagement of more than Rs 58.28 billion in National Highways Authority (NHA).
Published 16 Jun, 2011 12:00am
AGP detects Rs 58.28 billion irregularities in NHA

AGP detects Rs 58.28 billion irregularities in NHA

The Auditor General of Pakistan (AGP) has detected massive irregularities, embezzlements, corruption, losses and mismanagement of more than Rs 58.28 billion in National Highways Authority (NHA).
Published 16 Jun, 2011 12:00am
AGP detects Rs 58.28 billion irregularities in NHA

AGP detects Rs 58.28 billion irregularities in NHA

The Auditor General of Pakistan (AGP) has detected massive irregularities, embezzlements, corruption, losses and mismanagement of more than Rs 58.28 billion in National Highways Authority (NHA).
Published 16 Jun, 2011 12:00am
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