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Archive - 2011-06-19
President Assad to make speech Monday
Top News

President Assad to make speech Monday

DAMASCUS : Syrian President Bashar al-Assad is due to make a speech on Monday on developments in his country which has
Published 19 Jun, 2011 07:15pm
Eveline may re-elect to cabinet
Europe

Eveline may re-elect to cabinet

ZURICH : Swiss Finance Minister Eveline Widmer-Schlumpf, who played a key role in the bailout of UBS and is pushing toug
Published 19 Jun, 2011 11:15am
Hafeez clarifies news reports
Cricket

Hafeez clarifies news reports

KARACHI : Pakistan opener Muhammad Hafeez on Sunday dispelled the impression that he was in any way interested in becomi
Published 19 Jun, 2011 10:51am
Four soldiers killed in Taliban clash
Top News

Four soldiers killed in Taliban clash

PESHAWAR : War planes pounded a militant stronghold in a tribal district on the Afghan border in an operation that left
Published 19 Jun, 2011 10:48am
$500mn ships export sees Bangladesh
Top News

$500mn ships export sees Bangladesh

DHAKA : Bangladesh looks set to earn around $500 million over the next two years by exporting ships, which builders se
Published 19 Jun, 2011 10:31am
Oil market witnesses record price gap
Top News

Oil market witnesses record price gap

LONDON: A cocktail of factors, including ample US crude stockpiles, unrest in the Middle East and North Africa and keen
Published 19 Jun, 2011 08:43am
India, China armies resume talks
Asia

India, China armies resume talks

NEW DELHI : India resumes defence contacts with China frozen for a year when an Indian military delegation visits on
Published 19 Jun, 2011 07:44am
1.29mn customers' data stolen from Sega
Top News

1.29mn customers' data stolen from Sega

TOKYO : Hackers have stolen the personal data of some 1.29 million customers of the Japanese game maker Sega, the compan
Published 19 Jun, 2011 12:00am
India, China armies resume talks
Top News

India, China armies resume talks

NEW DELHI: India resumes defence contacts with China frozen for a year when an Indian military delegation visits on Sund
Published 19 Jun, 2011 12:00am
MQM seeks end to loadshedding

MQM seeks end to loadshedding

Muttahida Qaumi Movement (MQM) on Saturday asked the government to resolve the issue of loadshedding on a priority basis. Raising a point of order, Dr Farooq Sattar, deputy parliamentary leader of the Muttahida Qaumi Movement (MQM) drew the attention of t
Published 19 Jun, 2011 12:00am
MQM seeks end to loadshedding

MQM seeks end to loadshedding

Muttahida Qaumi Movement (MQM) on Saturday asked the government to resolve the issue of loadshedding on a priority basis. Raising a point of order, Dr Farooq Sattar, deputy parliamentary leader of the Muttahida Qaumi Movement (MQM) drew the attention of t
Published 19 Jun, 2011 12:00am
Rs 653.396 billion demands for grants approved by National Assembly

Rs 653.396 billion demands for grants approved by National Assembly

The National Assembly on Saturday approved as many as 30 demands for grants worth Rs 653.396 billion including Rs 505.7 billion for Defence, Rs 141.97 billion for Cabinet Division and Rs 5.73 billion for Communication Division by rejecting 207 cut motions
Published 19 Jun, 2011 12:00am
Rs 653.396 billion demands for grants approved by National Assembly

Rs 653.396 billion demands for grants approved by National Assembly

The National Assembly on Saturday approved as many as 30 demands for grants worth Rs 653.396 billion including Rs 505.7 billion for Defence, Rs 141.97 billion for Cabinet Division and Rs 5.73 billion for Communication Division by rejecting 207 cut motions
Published 19 Jun, 2011 12:00am
All Mehran attackers were Eurasians: DNA report

All Mehran attackers were Eurasians: DNA report

The DNA report on PNS Mehran attack has finally confirmed that all attackers were foreigners. According to SSP Investigation Niaz Khoso, the Sindh police have received the DNA report on PNS Mehran attack in which 10 security personnel were killed and 15 o
Published 19 Jun, 2011 12:00am
All Mehran attackers were Eurasians: DNA report

All Mehran attackers were Eurasians: DNA report

The DNA report on PNS Mehran attack has finally confirmed that all attackers were foreigners. According to SSP Investigation Niaz Khoso, the Sindh police have received the DNA report on PNS Mehran attack in which 10 security personnel were killed and 15 o
Published 19 Jun, 2011 12:00am
China May property inflation eases to 4.2 percent

China May property inflation eases to 4.2 percent

China's annual property inflation eased to 4.2 percent in May, extending a slowdown in recent months after a series of heavy-handed tightening measures by the government to cool price rises and deflate a bubble. But it is still too early to declare victor
Published 19 Jun, 2011 12:00am
Members bound to keep JCP proceedings confidential: Ranjha

Members bound to keep JCP proceedings confidential: Ranjha

Pakistan Bar Council representative in the Judicial Commission of Pakistan (JCP), Dr Khalid Ranjha on Saturday provided a copy of the rules to the Council content of which forbids him to disclose the commission's proceeding to anybody. Dr Khalid Ranjha to
Published 19 Jun, 2011 12:00am
Members bound to keep JCP proceedings confidential: Ranjha

Members bound to keep JCP proceedings confidential: Ranjha

Pakistan Bar Council representative in the Judicial Commission of Pakistan (JCP), Dr Khalid Ranjha on Saturday provided a copy of the rules to the Council content of which forbids him to disclose the commission's proceeding to anybody. Dr Khalid Ranjha to
Published 19 Jun, 2011 12:00am
5.9 quake strikes eastern Japan

5.9 quake strikes eastern Japan

A 5.9 magnitude earthquake struck eastern Japan Saturday, seismologists said, rattling one of the areas hardest hit by the March 11 quake and tsunami disasters. The quake hit at 8:31 pm (1131 GMT) about 110 kilometres (70 miles) east of Fukushima near the
Published 19 Jun, 2011 12:00am
5.9 quake strikes eastern Japan

5.9 quake strikes eastern Japan

A 5.9 magnitude earthquake struck eastern Japan Saturday, seismologists said, rattling one of the areas hardest hit by the March 11 quake and tsunami disasters. The quake hit at 8:31 pm (1131 GMT) about 110 kilometres (70 miles) east of Fukushima near the
Published 19 Jun, 2011 12:00am
FBR misses active taxpayers' audit target

FBR misses active taxpayers' audit target

The Federal Board of Revenue has missed the target set for conducting audit of the 30 percent 'Active Taxpayers' of the Large Taxpayers Units (LTUs) as it could conducted audit of only 6 percent during 2010-11. According to the selected performance indica
Published 19 Jun, 2011 12:00am
FBR misses active taxpayers' audit target

FBR misses active taxpayers' audit target

The Federal Board of Revenue has missed the target set for conducting audit of the 30 percent 'Active Taxpayers' of the Large Taxpayers Units (LTUs) as it could conducted audit of only 6 percent during 2010-11. According to the selected performance indica
Published 19 Jun, 2011 12:00am
FBR misses active taxpayers'' audit target

FBR misses active taxpayers'' audit target

The Federal Board of Revenue has missed the target set for conducting audit of the 30 percent ''Active Taxpayers'' of the Large Taxpayers Units (LTUs) as it could conducted audit of only 6 percent during 2010-11. According to the selected performance indi
Published 19 Jun, 2011 12:00am
Four killed, 28 wounded in attacks

Four killed, 28 wounded in attacks

Four people, including two children, were killed and 28 wounded Saturday in a bomb blast and a militant attack on Pakistani troops, security officials said. The children and one civilian were killed by a remote-control motorcycle bomb targeting security f
Published 19 Jun, 2011 12:00am
Four killed, 28 wounded in attacks

Four killed, 28 wounded in attacks

Four people, including two children, were killed and 28 wounded Saturday in a bomb blast and a militant attack on Pakistani troops, security officials said. The children and one civilian were killed by a remote-control motorcycle bomb targeting security f
Published 19 Jun, 2011 12:00am
SBP suspends exchange company licence

SBP suspends exchange company licence

The State Bank of Pakistan (SBP) on Saturday debarred Capital Exchange Company-B (Pvt) Limited, Karachi/Lahore, from undertaking any kind of business activity. SBP with immediate effect suspended the authorisation/licence issued on June 30, 2004 to Capita
Published 19 Jun, 2011 12:00am
SBP suspends exchange company licence

SBP suspends exchange company licence

The State Bank of Pakistan (SBP) on Saturday debarred Capital Exchange Company-B (Pvt) Limited, Karachi/Lahore, from undertaking any kind of business activity. SBP with immediate effect suspended the authorisation/licence issued on June 30, 2004 to Capita
Published 19 Jun, 2011 12:00am
SBP suspends exchange company licence

SBP suspends exchange company licence

The State Bank of Pakistan (SBP) on Saturday debarred Capital Exchange Company-B (Pvt) Limited, Karachi/Lahore, from undertaking any kind of business activity. SBP with immediate effect suspended the authorisation/licence issued on June 30, 2004 to Capita
Published 19 Jun, 2011 12:00am
Syrian forces storm border town near Turkey

Syrian forces storm border town near Turkey

Syrian troops and gunmen loyal to President Bashar al-Assad stormed a town near the Turkish border on Saturday, burning houses and arresting dozens, witnesses said, in a persistent military campaign to crush popular revolt. The latest assault followed ano
Published 19 Jun, 2011 12:00am
Syrian forces storm border town near Turkey

Syrian forces storm border town near Turkey

Syrian troops and gunmen loyal to President Bashar al-Assad stormed a town near the Turkish border on Saturday, burning houses and arresting dozens, witnesses said, in a persistent military campaign to crush popular revolt. The latest assault followed ano
Published 19 Jun, 2011 12:00am
India denies obstructing Pakistan's naval vessel

India denies obstructing Pakistan's naval vessel

India Saturday dismissed as "totally baseless" Pakistani allegations that its naval vessel was obstructed by an Indian warship in the Gulf of Aden while escorting a merchant carrier that had been freed by Somali pirates, according to Indo-Asian News Servi
Published 19 Jun, 2011 12:00am
India denies obstructing Pakistan's naval vessel

India denies obstructing Pakistan's naval vessel

India Saturday dismissed as "totally baseless" Pakistani allegations that its naval vessel was obstructed by an Indian warship in the Gulf of Aden while escorting a merchant carrier that had been freed by Somali pirates, according to Indo-Asian News Servi
Published 19 Jun, 2011 12:00am
Moroccan king fails to win over youth protest movement

Moroccan king fails to win over youth protest movement

Morocco's youth-based February 20 Movement on Saturday rejected constitutional reforms proposed by King Mohammed VI, calling for nation-wide protests. "The plan as proposed by the king yesterday (Friday) does not respond to our demands for a true separati
Published 19 Jun, 2011 12:00am
Moroccan king fails to win over youth protest movement

Moroccan king fails to win over youth protest movement

Morocco's youth-based February 20 Movement on Saturday rejected constitutional reforms proposed by King Mohammed VI, calling for nation-wide protests. "The plan as proposed by the king yesterday (Friday) does not respond to our demands for a true separati
Published 19 Jun, 2011 12:00am
Government unlikely to contain inflation at 12 percent

Government unlikely to contain inflation at 12 percent

The government is unlikely to contain inflation at 12 percent for 2011-12 owing to absence of fiscal discipline, continuing rise in the price of petroleum products, lower domestic as well as foreign investment, and depreciation of Pakistani rupee against
Published 19 Jun, 2011 12:00am
Government unlikely to contain inflation at 12 percent

Government unlikely to contain inflation at 12 percent

The government is unlikely to contain inflation at 12 percent for 2011-12 owing to absence of fiscal discipline, continuing rise in the price of petroleum products, lower domestic as well as foreign investment, and depreciation of Pakistani rupee against
Published 19 Jun, 2011 12:00am
Government unlikely to contain inflation at 12 percent

Government unlikely to contain inflation at 12 percent

The government is unlikely to contain inflation at 12 percent for 2011-12 owing to absence of fiscal discipline, continuing rise in the price of petroleum products, lower domestic as well as foreign investment, and depreciation of Pakistani rupee against
Published 19 Jun, 2011 12:00am
Merkel wants 'substantial' bank aid for Greek debt

Merkel wants 'substantial' bank aid for Greek debt

German Chancellor Angela Merkel Saturday urged "substantial" aid from private creditors in resolving Greece's debt woes, as the Eurogroup warned the crisis could spread like a firestorm through other EU economies. "We must be sure to try to have a substan
Published 19 Jun, 2011 12:00am
Merkel wants 'substantial' bank aid for Greek debt

Merkel wants 'substantial' bank aid for Greek debt

German Chancellor Angela Merkel Saturday urged "substantial" aid from private creditors in resolving Greece's debt woes, as the Eurogroup warned the crisis could spread like a firestorm through other EU economies. "We must be sure to try to have a substan
Published 19 Jun, 2011 12:00am
Merkel wants ''substantial'' bank aid for Greek debt

Merkel wants ''substantial'' bank aid for Greek debt

German Chancellor Angela Merkel Saturday urged "substantial" aid from private creditors in resolving Greece''s debt woes, as the Eurogroup warned the crisis could spread like a firestorm through other EU economies. "We must be sure to try to have a substa
Published 19 Jun, 2011 12:00am
Helicopters intercept aircraft near US capital

Helicopters intercept aircraft near US capital

Coast Guard helicopters intercepted a small aircraft that entered restricted air space near the US capital on Saturday, military officials said. The North American Aerospace Defence Command (NORAD) said it ordered the action after the "small general aviat
Published 19 Jun, 2011 12:00am
Helicopters intercept aircraft near US capital

Helicopters intercept aircraft near US capital

Coast Guard helicopters intercepted a small aircraft that entered restricted air space near the US capital on Saturday, military officials said. The North American Aerospace Defence Command (NORAD) said it ordered the action after the "small general aviat
Published 19 Jun, 2011 12:00am
Opening ceremony of YLDP-2011 held

Opening ceremony of YLDP-2011 held

Future of Pakistan lies in the youngsters, which direly needed proper education and skill development training to meet the global challenges, says chairman Arif Habib Investment and leading businessman on Saturday. He was speaking as chief guest at inaugu
Published 19 Jun, 2011 12:00am
Six Rangers among seven charge-sheeted

Six Rangers among seven charge-sheeted

The Challan in the case of unarmed Sarfaraz Shah's extra judicial killing by Rangers personnel was presented before an Anti Terrorism Court (ATC), here on Saturday. The court approved the challan and transferred the case to the Anti-Terrorism Court 1. Pub
Published 19 Jun, 2011 12:00am
Gilani calls on Zardari

Gilani calls on Zardari

Prime Minister Syed Yousuf Raza Gilani on Saturday called on President Asif Ali Zardari at Aiwan-e-Sadr. Current political situation was discussed during the meeting, said a press release issued by Aiwan-e-Sadr.
Published 19 Jun, 2011 12:00am
Cross-LoC trade remains suspended

Cross-LoC trade remains suspended

The trade across the Line of Control continued to remain suspended with local traders distancing themselves from the announcement made by Azad Jammu and Kashmir-based Intra-Kashmir Trade Union Contact Committee (IKTUCC) about resumption of the trade.
Published 19 Jun, 2011 12:00am
Economic prosperity in Pakistan, India will bring peace: Anand Sharma

Economic prosperity in Pakistan, India will bring peace: Anand Sharma

Saleem H. Mandviwala Chairman Board of Investment is on three-day visit to Russia to represent Pakistan at International Economic Forum in St. Petersburg, says a press release issued here on Saturday. The event is one of the world's leading discussion for
Published 19 Jun, 2011 12:00am
PPC doubles premium on insurance scheme for journalists

PPC doubles premium on insurance scheme for journalists

The office bearers of Peshawar Press Club, while realising the seriousness of deteriorating law and order situation in the province and threats to the lives of journalists, has decided to double the amount of premium on the prevailing Group Insurance Sche
Published 19 Jun, 2011 12:00am
Hot, dry weather likely in most parts of country

Hot, dry weather likely in most parts of country

Pakistan Meteorological Department (PMD) on Saturday forecast hot and dry weather for most parts of the country during next few days. Severe hot weather conditions are likely in plain areas of the country during the next 24 hours, however, isolated rain/t
Published 19 Jun, 2011 12:00am
EU, German team hails tax reform system

EU, German team hails tax reform system

Appreciating progress being made by Pakistan in tax reforms, the German Minister for Economic Co-operation and the EU Commissioner for Development on Saturday hoped that it would help increase the revenue of government.
Published 19 Jun, 2011 12:00am
Government committed to provide relief to masses: Prime Minister

Government committed to provide relief to masses: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Saturday said the government was committed to provide relief to the common people and the budget 2011-12 was also prepared on the same lines. Talking to MNA Khawaja Muhammad Khan Hoti at the PM House, Gilani said
Published 19 Jun, 2011 12:00am
Deteriorating law and order: MQM-H blames coalition partners

Deteriorating law and order: MQM-H blames coalition partners

Mohajir Qaumi Movement (MQM-H) Saturday has expressed grave concern over rampant killings in the city, blaming the government and its coalition parties and rulers for the deteriorating law and order situation. MQM-H Vice Chairman Shamshad Khan Ghori said
Published 19 Jun, 2011 12:00am
'Crew would have to be rescued if fuel not supplied to MV Suez'

'Crew would have to be rescued if fuel not supplied to MV Suez'

Human Rights activist Ansar Burney announced on Saturday that although technical faults in the MV Suez ship released by Somali pirates had been fixed, the ship had run out of fuel. Speaking to a private television channel, Burney said that if fuel is not
Published 19 Jun, 2011 12:00am
Punjab's new land record project to provide client-responsive services

Punjab's new land record project to provide client-responsive services

Land Record Management and Information System (LRMIS) is a Government of Punjab's initiative to transform the Chief Minister's vision of mitigating the sufferings of general public through improving the service delivery and eradication of the malpractices
Published 19 Jun, 2011 12:00am
US paper cautions Congress against harming 'vital' Pakistan relationship

US paper cautions Congress against harming 'vital' Pakistan relationship

A major American newspaper has asked Congress to back off from moves like withholding 75 per cent of US security assistance for Pakistan as such threats jeopardise the "strategically vital" relationship, which is "crucial" to curbing militant threat in th
Published 19 Jun, 2011 12:00am
PML-N lawyers to seek Babar's disqualification

PML-N lawyers to seek Babar's disqualification

As a counterblast to the line adopted by PPP against Punjab Law Minister Rana Sana Ullah, the PML (N) lawyers have announced to also knock the door of court against Babar Awan to seek his disqualification as advocate on various charges.
Published 19 Jun, 2011 12:00am
Short supply of fuel 12 powerhouses closed down

Short supply of fuel 12 powerhouses closed down

Around 12 powerhouses in the country have closed down due to short supply of fuel and non-payment of dues. Pakistan State Oil, country's largest oil distribution company is supplying 2,200 metric tons per day furnace oil while demand from the power sector
Published 19 Jun, 2011 12:00am
Weekly crime rate: street crimes show upward trend

Weekly crime rate: street crimes show upward trend

Street crimes showed an upward trend despite Islamabad Police claims of significant success in bringing the crime ratio down, as over 115 incidents of street crimes took place during the last week.
Published 19 Jun, 2011 12:00am
Blood donation to be given on Benazir Bhutto's birthday anniversary

Blood donation to be given on Benazir Bhutto's birthday anniversary

The General Secretary PPP Sindh Taj Hyder has said that the services of Provincial Health Department and major blood bank organisations in Sindh would be utilised to maintain cold chain and proper screening of the blood to be donated by youths to mark the
Published 19 Jun, 2011 12:00am
Envoys designated to three states meet Zardari

Envoys designated to three states meet Zardari

Khalid Aziz Babar, Pakistan's Ambassador designate to Iran, Hasan Javed, High Commissioner (HC) designate to Singapore and Amjad Sial, Ambassador designate to Tajikistan separately, called on President Asif Ali Zardari at Aiwan-e-Sadr on Saturday.
Published 19 Jun, 2011 12:00am
NBP hires 256 young, energetic graduates as MTOs

NBP hires 256 young, energetic graduates as MTOs

Considering the importance of inclusion of young blood in different functional areas of the Bank, NBP has hired young, energetic and fresh graduates as Management Trainee Officers (MTOs) under the umbrella of its Management Trainee Programme.
Published 19 Jun, 2011 12:00am
207 prisoners released from Camp Jail

207 prisoners released from Camp Jail

As many as 207 prisoners were released from Camp Jail Lahore on Saturday when Inspector General of Prisons Punjab announced three months remission for prisoners involved in minor offences on the directions of Lahore High Court Chief Justice, Ijaz Ahmed Ch
Published 19 Jun, 2011 12:00am
'Efforts being made to eliminate Thana culutre'

'Efforts being made to eliminate Thana culutre'

Minister for Information and Broadcasting, Dr Firdous Ashiq Awan has said efforts are being made for the elimination of Thana culture with the support of the masses in order promote the politics of decency. Addressing a public meeting in Bujwat, she said
Published 19 Jun, 2011 12:00am
23rd convocation of LUMS held

23rd convocation of LUMS held

The 23rd annual Convocation of Lahore University of Management Sciences (LUMS) was held on Saturday in which around 567 students were awarded degrees. Governor State Bank of Pakistan, Shahid H. Kardar speaking on the occasion advised students to work hard
Published 19 Jun, 2011 12:00am
Forays from across Afghan border

Forays from across Afghan border

The incursion said to have been launched by militants from across the Afghan border into Bajaur Agency on Thursday is the third of its kind in as many months, all three carried out by fairly large packs fully equipped with sophisticated weapons and clad i
Published 19 Jun, 2011 12:00am
A good beginning

A good beginning

It's a time-honoured tradition of democratic governments that bosses at the top step down accepting responsibility of their subordinates' lapses that provoke serious public concern. Be it a railway accident or corruption scam or an error of judgement that
Published 19 Jun, 2011 12:00am
Vibrant Turkish democracy

Vibrant Turkish democracy

Turkish Prime Minister Erdogan-led Justice and Development Party (AKP) has won its third consecutive term in office, confirming the fact that Turkish democracy has finally acquired the much-needed primacy over military-managed governance. That AKP polled
Published 19 Jun, 2011 12:00am
Pak-China FTA

Pak-China FTA

Article XXIV of the General Agreement on Tariff and Trade (GATT) permits discriminatory trading arrangement among member nations of the World Trade Organisation (WTO). Following this article, member countries are now focusing to develop bilateral PTAs, RT
Published 19 Jun, 2011 12:00am
New search technologies speed your way through the web

New search technologies speed your way through the web

Despite all of the hype surrounding social media, search is still the backbone of the internet. Without it, you'd be hard pressed to find all of the information that's out there. The giants of search know this, of course, and they continue to work on ways
Published 19 Jun, 2011 12:00am
'Shoot at sight'

'Shoot at sight'

Three consecutive drone strikes kill 23 people in South Waziristan. The violent killing of innocent people has yet again perturbed and saddened each and every Pakistani, as well as those living abroad. Despite a joint resolution of the Parliament, nationa
Published 19 Jun, 2011 12:00am
Incidents on the rise: four cattle farmers abducted

Incidents on the rise: four cattle farmers abducted

A gang of kidnappers on Saturday kidnapped four cattle farmers in the limits of Surjani police station. According to police, these abductees namely Rasheed, Absar, Mureed and Zubair were intercepted at zero point Surjani town when they were travelling in
Published 19 Jun, 2011 12:00am
Pakistan and Russia to foster business relations: accord inked

Pakistan and Russia to foster business relations: accord inked

Goharullah, President of Hyderabad Chamber of Commerce & Industry and Chairman of Russian Business Council for co-operation with Pakistan, Selizner Gemmadi Nikolaevich have decided to work in close contact to develop business relations between the two cou
Published 19 Jun, 2011 12:00am
Only teachers, LHWs to be trained as enumerators for Census

Only teachers, LHWs to be trained as enumerators for Census

Population Census Organisation, Sindh has decided to train only government teachers and Lady Health Workers (LHWs) as enumerators to conduct second phase of Census which is scheduled to be held from September 12 to September 27, 2011, official sources tol
Published 19 Jun, 2011 12:00am
Energy projects need to be implemented: Nawaz

Energy projects need to be implemented: Nawaz

Pakistan Muslim League-Nawaz Chief, Nawaz Sharif on Saturday said the energy projects need to be implemented and the provincial government, apart from generating power should also develop capacity of distribution. He was speaking at a meeting held to revi
Published 19 Jun, 2011 12:00am
Mohib Raza honoured

Mohib Raza honoured

The Government College University (GCU) Lahore Debating Society has honoured the late Mohib Raza; one of the most promising orators of GCU who was murdered last week during a domestic visit to a tourist resort in northern areas.
Published 19 Jun, 2011 12:00am
Balochistan government allocates Rs 2.65 billion for 500 UCs

Balochistan government allocates Rs 2.65 billion for 500 UCs

Balochistan Local Government Grants Committee on Saturday approved an allocation of rupees 2.65 billion for over 500 union councils of the province in the provincial annual budget for fiscal year 2011-12. The meeting, chaired by Finance Minister Mir Asim
Published 19 Jun, 2011 12:00am
'Government to provide advanced healthcare to labourers'

'Government to provide advanced healthcare to labourers'

Provincial Minister for Labour, Haji Ehsaan-ud-Din Qureshi has said that labourers are the backbone of industrial system and government will ensure provision of state of the art health care facilities to the labourers and their children.
Published 19 Jun, 2011 12:00am
Government plans reforms in education sector, says Pir Mazhar

Government plans reforms in education sector, says Pir Mazhar

Sindh Minister for Education Pir Mazharul Haque has said that the government has planned reforms in education sector and allocated Rs 7 billion in budget for the sector. Speaking at a dinner hosted by Hanif Gohar at a local hotel here on Friday, he said t
Published 19 Jun, 2011 12:00am
CIA not conducting any operations in Pakistan: Malik

CIA not conducting any operations in Pakistan: Malik

Interior Minister, Rehman Malik said on Saturday that Pakistan was a sovereign state and the US Central Intelligence Agency (CIA) was neither conducting any operation inside the country, nor it would be allowed to do so. Talking to media outside the Parli
Published 19 Jun, 2011 12:00am
'Aashiyana housing scheme to be launched in 16 districts'

'Aashiyana housing scheme to be launched in 16 districts'

Punjab Chief Minister Muhammad Shahbaz Sharif has said that housing schemes with modern facilities have been launched for the poor and common people for the first time in the 63 years' history of the country and the credit of launching Aashiyana housing p
Published 19 Jun, 2011 12:00am
Pakistan expects record cotton produce: Masood

Pakistan expects record cotton produce: Masood

Pakistan's Ambassador to China Masood Khan on Saturday said Pakistan was expecting record cotton production of over 15 million bales in the 2011-12 crop year, as farmers were sowing in a wider area after domestic prices doubled a year ago.
Published 19 Jun, 2011 12:00am
'Public-private partnership to help attract investment'

'Public-private partnership to help attract investment'

Lack of foreign investment in Pakistan has made our economy cash-starved and public-private partnership is the only way to attract and encourage foreign investment, Ghulam Murtaza Satti, head of Infrastructure Project Development Facility (IPDF) said whil
Published 19 Jun, 2011 12:00am
Professor Iqbal appointed SZPGMI Chairman

Professor Iqbal appointed SZPGMI Chairman

Prime Minister, Syed Yousuf Raza Gilani has appointed Professor Zafar Iqbal, as chairman and dean of Shaikh Zayed Postgraduate Medical Institute (SZPGMI) Lahore. The Prime Minister approved the appointment, based on the recommendations of the Selection Bo
Published 19 Jun, 2011 12:00am
'Farmers being offered incentives'

'Farmers being offered incentives'

Punjab government is providing a number of incentives to farmers, processors, exporters and logistics to enable them deliver produce according to the market needs. This was stated by Punjab Agriculture Secretary, Arif Nadeem while addressing participants
Published 19 Jun, 2011 12:00am
Supreme Court forms two benches for next week

Supreme Court forms two benches for next week

Chief Justice of Pakistan Iftikhar Muhammad Chaudhry has constituted two Benches at the Principal Seat to hear a number of important cases in the next week starting from June 20. The first Bench includes the Chief Justice and Justice Amir Hani Muslim, whi
Published 19 Jun, 2011 12:00am
Nawaz, Shahbaz felicitate Turkish Prime Minister on elections

Nawaz, Shahbaz felicitate Turkish Prime Minister on elections

Quaid Pakistan Muslim League-N Mian Muhammad Nawaz Sharif and Punjab Chief Minister Muhammad Shahbaz Sharif here on Saturday have felicitated the Turkish Prime Minister Tayyip Erdogan on the magnificent victory in the general elections.
Published 19 Jun, 2011 12:00am
'Yellow Cab Scheme to help end unemployment'

'Yellow Cab Scheme to help end unemployment'

Advisor to Chief Minister Punjab, Sardar Zulifqar Ali Khan Khosa has said that unemployment is a very serious issue of our society and our youth is being badly affected because of it. He also said trends of frustration and disappointment are becoming dang
Published 19 Jun, 2011 12:00am
Fresh dates to be available in markets shortly

Fresh dates to be available in markets shortly

Various varieties of fresh dates will be available in markets from July 1st in Sindh, Business Recorder learnt on Saturday. According to the sources, this year production of dates would be higher as compared to last year. Around 268576 metric tons
Published 19 Jun, 2011 12:00am
Proposal to tax agriculture income opposed

Proposal to tax agriculture income opposed

A small batch of Pakistan Muslim League (Q) in the Sindh Assembly on Saturday opposed the proposals for legislation to tax agriculture income, saying that the government first has to introduce a crops insurance policy before any such move.
Published 19 Jun, 2011 12:00am
LHC moved for registration of criminal case against Rana

LHC moved for registration of criminal case against Rana

A petition has been filed in Lahore High Court (LHC) for registration of a criminal case against Punjab Law Minister Rana Sanaullah for giving a 'decree' declaring Dr Babar Awan liable to be killed (Wajib-ul Qatal). The petition was filed by Ansar Mehmood
Published 19 Jun, 2011 12:00am
'Technical and vocational skills vital for youth to secure good jobs'

'Technical and vocational skills vital for youth to secure good jobs'

"Being merely educated in today's tough economic times is not sufficient. Intense competition within the job market has rendered securing employment opportunities extremely difficult. In such circumstances, it is mandatory that our youth be in possession
Published 19 Jun, 2011 12:00am
'Tolerance imperative for durable peace, stability'

'Tolerance imperative for durable peace, stability'

Participants at a daylong seminar said that tolerance was imperative for establishment of durable peace and stability in the country, saying peace efforts could be more tangible by taking all stakeholders and peacekeepers onboard to end growing trend of i
Published 19 Jun, 2011 12:00am
Passco achieves 1.3MTs wheat procurement target

Passco achieves 1.3MTs wheat procurement target

Pakistan Agriculture and Storage Company (Passco) Management has completed its target of procuring 1.3 million tons of wheat and has ensured judicious issuance of 'bardana' through proper monitoring and vigilance. There have been complaints about no or le
Published 19 Jun, 2011 12:00am
Pakistanis invited to invest in Sudan

Pakistanis invited to invest in Sudan

Sudanese Ambassador in Pakistan Mohammad Omer Musa has invited Pakistani businessmen to invest in Sudan for reaping the fruits of available business opportunities due to its strategic location in the African region and business-friendly policies, and adde
Published 19 Jun, 2011 12:00am
Commodities hit by Greek crisis, strong dollar

Commodities hit by Greek crisis, strong dollar

Commodity prices were rocked last week on intensifying worries over a possible Greek default, which sent the European single currency sliding against the dollar. "The bottom fell out of a number of markets on Wednesday as oil led the overall group lower,"
Published 19 Jun, 2011 12:00am
Gold posts biggest one-day gain in three weeks

Gold posts biggest one-day gain in three weeks

Gold rose nearly 1 percent on Friday, notching its biggest one-day gain in three weeks, as a sharp dollar drop amid an outline agreement to aid debt-burden Greece boosted investor appetite across the board. A string of recent lackluster US economic data,
Published 19 Jun, 2011 12:00am
Indonesian sugar consumption seen up

Indonesian sugar consumption seen up

Total sugar consumption in Indonesia will rise more than 3 percent to an estimated 5.17 million tonnes this year, a trade ministry official said on Tuesday. Southeast Asia's largest sugar consumer used 5.01 million tonnes in 2010, Gunaryo, director genera
Published 19 Jun, 2011 12:00am
China aims to meet local cotton demand, imports to rise

China aims to meet local cotton demand, imports to rise

China aims to be self-reliant on cotton supply while imports of the crop will likely rise to meet textile export demand, said officials attending an industry conference on Wednesday. "The gap between China's cotton output and demand will be a long-term te
Published 19 Jun, 2011 12:00am
Copper a touch higher

Copper a touch higher

Copper ended a touch higher on Friday, as a weak dollar and steadier tone in equities helped prices withstand the bearish impact of cloudier economic prospects and a potential Greek default. The gains helped copper push into the plus column for the week,
Published 19 Jun, 2011 12:00am
Soyabeans fall; corn and wheat follow

Soyabeans fall; corn and wheat follow

US soyabean futures fell 1.3 percent and hit a one-month low on Friday as a breakdown in crude oil prices spilled over into the grain market, also erasing early strength in corn and wheat. US crude prices hit their lowest in four months on worries that th
Published 19 Jun, 2011 12:00am
Ivory Coast eases quality standards for cocoa exports

Ivory Coast eases quality standards for cocoa exports

Ivory Coast has eased quality standards for cocoa exports during the remainder of the 2010-11 season to allow a smaller average bean size, authorities said on Friday. The world's top grower, recovering from a violent post-election power struggle, will all
Published 19 Jun, 2011 12:00am
Tea to earn Kenya $1.1 billion in 2011

Tea to earn Kenya $1.1 billion in 2011

Kenya is likely to match last year's record-setting earnings from tea exports, thanks to stable prices and a weaker currency against the dollar, the head of its Tea Board told Reuters. The world's top exporter of black tea earned 97 billion shillings ($1.
Published 19 Jun, 2011 12:00am
UN nuclear report shows Japan safety shortcomings

UN nuclear report shows Japan safety shortcomings

Japanese nuclear regulators failed to review and approve steps taken after 2002 to protect against tsunamis at the Fukushima plant and these proved insufficient to prevent the tidal wave disaster three months ago, a UN report showed.
Published 19 Jun, 2011 12:00am
Egypt court suspends order to remove Mubarak's name

Egypt court suspends order to remove Mubarak's name

An Egyptian court on Saturday suspended its order to remove the names of former President Hosni Mubarak and his wife Suzanne from public institutions. Officials seeking to win presidential favour routinely named streets, schools, military installations an
Published 19 Jun, 2011 12:00am
Iraqi colonel gunned down in Baghdad

Iraqi colonel gunned down in Baghdad

An Iraqi army colonel was shot dead in Baghdad late on Saturday by gunmen armed with silenced pistols, an interior ministry official said. "Colonel Taher Ibrahim Ahmed, who worked at the ministry of defence, was shot dead as he was in his car on Palestine
Published 19 Jun, 2011 12:00am
Workers at New York store reject union

Workers at New York store reject union

Workers at a Target Corp discount store in New York voted to reject union representation in what would have been the first unionised Target store in the country, while union officials vowed to press for another election. Employees at the Valley Stream, Ne
Published 19 Jun, 2011 12:00am
India releases oldest prisoner, aged 108

India releases oldest prisoner, aged 108

Prison authorities in India have released the country's oldest inmate, 108-year-old Brij Bihari Pandey, who was convicted of a murder he committed at the age of 84, officials said Saturday. Pandey, a Hindu priest, was freed on Friday by a court in the nor
Published 19 Jun, 2011 12:00am
Chile volcanic ash circles globe, flights cancelled anew in Chile

Chile volcanic ash circles globe, flights cancelled anew in Chile

After an "east-west circumnavigation" of the globe, a cloud of volcanic ash returned to its origin country, Chile, and was disrupting flights there on Saturday. Flights were cancelled in Chile and neighbouring Argentina, where the ash has been pouring dow
Published 19 Jun, 2011 12:00am
British solider killed in Afghanistan attack

British solider killed in Afghanistan attack

A British soldier was shot dead in an insurgent attack in Afghanistan on Saturday, bringing to 374 the number killed in operations there since 2001, the defence ministry said. The serviceman from 3rd Battalion The Mercian Regiment (Staffords) died on a pa
Published 19 Jun, 2011 12:00am
Iran lifts ban on top-selling reformist daily

Iran lifts ban on top-selling reformist daily

Iran's hardline press watchdog allowed the reformist Etemad newspaper to return to the news-stands on Saturday after a 15-month ban on the leading daily. The paper's managing director and licence holder, reformist former MP Elias Hazrati, wrote in the com
Published 19 Jun, 2011 12:00am
Tajikistan charges BBC reporter with extremism

Tajikistan charges BBC reporter with extremism

Tajikistan on Saturday charged a BBC reporter with membership of a banned Islamist group, after his arrest sparked global concern that he was being persecuted merely for opposing the regime. Urunbay Usmonov, a correspondent for the BBC's Central Asia serv
Published 19 Jun, 2011 12:00am
Libyan rebels battle to close in on Qadhafi

Libyan rebels battle to close in on Qadhafi

Fighting between forces loyal to Libya's Muammar Qadhafi and rebels trying to close in on his territory killed at least eight rebels near the north-western city of Nalut, an insurgent source said. The gun battles in the village of Takut, just outside Nalu
Published 19 Jun, 2011 12:00am
Obama ignored top legal advice on Libya: NYT

Obama ignored top legal advice on Libya: NYT

President Barack Obama ignored legal advice from top Pentagon and US Justice Department lawyers, siding with other advisers who said he had legal authority to continue air strikes against Libya without congressional approval, the New York Times reported o
Published 19 Jun, 2011 12:00am
Japan suspends waste water nuclear operation

Japan suspends waste water nuclear operation

Tokyo Electric Power Co Saturday halted an operation to clean highly contaminated waste water at a crippled Japanese nuclear plant due to higher-than-expected radiation levels. The embattled operator of the stricken Fukushima Daiichi facility said it had
Published 19 Jun, 2011 12:00am
South Korean troops shoot at civilian airliner

South Korean troops shoot at civilian airliner

South Korean Marines fired rifles at a South Korean commercial aircraft flying near the sea border with North Korea, thinking it was one of the communist North's jet fighters, but they never hit their target, military sources said on Saturday. The shootin
Published 19 Jun, 2011 12:00am
Angry Gazans protest against UN relief agency

Angry Gazans protest against UN relief agency

Dozens of angry Palestinians in the Gaza Strip demonstrated on Saturday against the United Nations Relief and Work Agency in the Far East (UNRWA), which they said was spending money on summer camps instead of rebuilding houses destroyed by Israel.
Published 19 Jun, 2011 12:00am
Dow, S&P rise

Dow, S&P rise

The Dow and S&P 500 rose on Friday after France and Germany outlined an agreement to aid debt-burdened Greece, but analysts said a recent bearish trend may not be over. The Dow managed to close just above 12,000, but the S&P 500 barely squeaked out a gain
Published 19 Jun, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasury debt prices were little changed on Friday as hints of a deal in the Greek debt crisis were offset by overarching worries about how debt problems in Europe might eventually play out. Treasuries traded lower in price through much of the day, aft
Published 19 Jun, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasury debt prices were little changed on Friday as hints of a deal in the Greek debt crisis were offset by overarching worries about how debt problems in Europe might eventually play out. Treasuries traded lower in price through much of the day, aft
Published 19 Jun, 2011 12:00am
Sri Lankan bourse recovers

Sri Lankan bourse recovers

Sri Lanka's stock market recovered from its five-month closing low on Friday as investors picked up shares battered in the recent fall, but low liquidity weighed on the market, while the rupee edged up after central bank said it will allow little volatili
Published 19 Jun, 2011 12:00am
US Treasury Outlook: Greece aid, bond agreements centre stage

US Treasury Outlook: Greece aid, bond agreements centre stage

A deal between European leaders to help avoid a restructuring of Greek debt has calmed global markets, but Treasury traders say Greece will still be the main attraction when trading begins next week. French and German leaders agreed on Friday to try to fo
Published 19 Jun, 2011 12:00am
US Treasury Outlook: Greece aid, bond agreements centre stage

US Treasury Outlook: Greece aid, bond agreements centre stage

A deal between European leaders to help avoid a restructuring of Greek debt has calmed global markets, but Treasury traders say Greece will still be the main attraction when trading begins next week. French and German leaders agreed on Friday to try to fo
Published 19 Jun, 2011 12:00am
Latam stocks bounce back

Latam stocks bounce back

Latin American stocks edged up on Friday, bouncing back from a nearly 10-month low after France and Germany outlined an agreement to aid debt-burdened Greece, but analysts expected more volatility. The MSCI Latin American index rose 0.53 percent after end
Published 19 Jun, 2011 12:00am
Indian bond yields, swaps fall

Indian bond yields, swaps fall

Indian federal bond yields fell for a second straight session on Friday supported by global demand for safe-haven government bonds triggered by Greece's debt woes, but hopes of a bailout that pushed the euro up in late trade, pulled yields off lows.
Published 19 Jun, 2011 12:00am
Indian bond yields, swaps fall

Indian bond yields, swaps fall

Indian federal bond yields fell for a second straight session on Friday supported by global demand for safe-haven government bonds triggered by Greece's debt woes, but hopes of a bailout that pushed the euro up in late trade, pulled yields off lows.
Published 19 Jun, 2011 12:00am
RIM, resources drag TSX to seven-month low

RIM, resources drag TSX to seven-month low

Toronto's main stock index closed at its lowest level in seven months on Friday, dragged down by a sharp selloff in Research In Motion and sliding resource shares. RIM plunged more than 20 percent to C$27.24 after reporting disappointing results and forec
Published 19 Jun, 2011 12:00am
NYSE confident of shareholder backing for merger

NYSE confident of shareholder backing for merger

NYSE Euronext and Deutsche Boerse expect to win shareholder support to merge and get the combined exchange operator up and running by year end, NYSE Euronext CEO Duncan Niederauer said. Niederauer is lobbying to win approval for the $10.2 billion tie-up,
Published 19 Jun, 2011 12:00am
Profitless Pandora pricks tech bubble

Profitless Pandora pricks tech bubble

It had all the signs of another dotcom bubble: A start-up without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut. The difference this time - one that cost some i
Published 19 Jun, 2011 12:00am
JGB futures rise

JGB futures rise

Benchmark 10-year Japanese government bond futures extended gains to a six-month high on Friday as share prices weakened later in the session, with investors remaining cautious about riskier assets amid increasing concerns on Greece's debt woes.
Published 19 Jun, 2011 12:00am
JGB futures rise

JGB futures rise

Benchmark 10-year Japanese government bond futures extended gains to a six-month high on Friday as share prices weakened later in the session, with investors remaining cautious about riskier assets amid increasing concerns on Greece's debt woes.
Published 19 Jun, 2011 12:00am
Turkish assets mixed

Turkish assets mixed

Turkish assets were mixed on Friday, when stocks turned higher after France and Germany hinted at an aid deal to save Greece from a default, while the domestic focus shifted to a central bank meeting next week. The bank faces growing calls ahead of its mo
Published 19 Jun, 2011 12:00am
Indian board unconvinced by DRS ball-tracking technology

Indian board unconvinced by DRS ball-tracking technology

The Indian cricket board (BCCI) does not think the ball-tracking technology used in the Decision Review System (DRS) is reliable enough and has maintained opposition to its mandatory use. The International Cricket Council (ICC) has recommended the mandato
Published 19 Jun, 2011 12:00am
Cook and Pietersen repair early damage

Cook and Pietersen repair early damage

Alastair Cook and Kevin Pietersen rescued England from a slump to 14 for two on a rain-marred third day of the third Test at the Rose Bowl here on Saturday. England were 69 for two in reply to Sri Lanka's 184, a deficit of 115 runs, at tea. Cook was 32 no
Published 19 Jun, 2011 12:00am
Cook equals England fifty record

Cook equals England fifty record

Alastair Cook became the first England batsman in nearly 50 years to score fifties in six successive Test innings on Saturday. The 26-year-old left-handed opener reached the landmark against Sri Lanka on the third day of the third Test at the Rose Bowl be
Published 19 Jun, 2011 12:00am
Rwandan 'Wasps' hope to sting England

Rwandan 'Wasps' hope to sting England

Rwanda appear on the international football stage for the first time Sunday when they face England in the FIFA world junior championship. Match venue Pachuca is 95 kilometres north east of Mexico City and a fitting setting as it was there that English min
Published 19 Jun, 2011 12:00am
Three Gold Cup games under fixing suspicion

Three Gold Cup games under fixing suspicion

Three games at the current Gold Cup tournament in the United States are under match-fixing investigation, German magazine Der Spiegel reported on its website on Saturday. Spiegel Online said the regional confederation CONCACAF, the world governing body FI
Published 19 Jun, 2011 12:00am
Iraqi federation elects new chief

Iraqi federation elects new chief

The Iraqi Football Association (IFA) gained a new chief on Saturday, in an election in which the country's football establishment won over a candidate unofficially backed by the government. Najeh Hmoud's victory over Falah Hassan is expected to end two ye
Published 19 Jun, 2011 12:00am
Bartoli battles hard to win Eastbourne title

Bartoli battles hard to win Eastbourne title

Sixth seed Marion Bartoli overcame blustery winds, a groin injury and a determined fightback from Czech Petra Kvitova to win the Eastbourne grasscourt Wimbledon warmup tournament 6-1 4-6 7-5 on Saturday. After losing in the semi-finals on the English sout
Published 19 Jun, 2011 12:00am
Stanford collapse could force extra England T20s

Stanford collapse could force extra England T20s

England could find themselves playing two extra Twenty20 internationals against the West Indies at the end of their current season in a bid to fulfil broadcast obligations three years after the collapse of the Stanford Super Series. According to a report
Published 19 Jun, 2011 12:00am
McIlroy defends big US Open lead

McIlroy defends big US Open lead

The chase was on to reel in runaway leader Rory McIlroy in the third round of the US Open at Congressional Country Club here on Saturday. The 22-year-old Ulsterman has blown the field apart in the first two days with rounds of 65 and 66 giving him the low
Published 19 Jun, 2011 12:00am
Kashima take first home win after quake

Kashima take first home win after quake

Japan international striker Shinzo Koroki led the Kashima Antlers to their first home win since the March 11 earthquake hit their town, beating Jubilo Iwata 2-0 in J-League football on Saturday. Koroki knocked back a rebound from close range after another
Published 19 Jun, 2011 12:00am
West failing to deliver aid: Libyan oil chief

West failing to deliver aid: Libyan oil chief

Libya's rebel oil chief accused the West on Saturday of failing to keep up its promises to deliver urgent financial aid, saying his authority had now run out of cash completely after months of fighting. Libya's economy relies on oil exports and the rebels
Published 19 Jun, 2011 12:00am
Bahrain to lift ban on opposition party

Bahrain to lift ban on opposition party

The government will lift a ban on Bahrain's second largest opposition party, the group said on Saturday, ahead of a national dialogue to ease the Gulf island kingdom's political crisis. Authorities shut down Waad, a leftist party aligned with the largest
Published 19 Jun, 2011 12:00am
Russia wants jobs, investment to calm North Caucasus

Russia wants jobs, investment to calm North Caucasus

Russia must create jobs in its volatile North Caucasus region to help dissuade young people from joining an Islamist insurgency and prevent new violence, the Kremlin's envoy to the region said. Explaining a shift in policy as Russia prepares to host the 2
Published 19 Jun, 2011 12:00am
Hackers might face stiffer sentences in US

Hackers might face stiffer sentences in US

Even before a loosely organised group of hackers broke into the CIA's and Senate's public websites, the White House asked for stiffer sentences for breaking into government and private computer networks. Last month the Obama administration pressed Congres
Published 19 Jun, 2011 12:00am
Norway to buy four F-35 'training' fighters

Norway to buy four F-35 'training' fighters

The Norwegian parliament has approved the purchase of four Lockheed Martin F-35 Joint Strike Fighters for training purposes ahead of a final decision set for next year on buying up to 52 additional jets. Norway's Labour-led majority government fended off
Published 19 Jun, 2011 12:00am
Former Zambian President Frederick Chiluba dies

Former Zambian President Frederick Chiluba dies

Frederick Chiluba, Zambia's first democratically elected president who fought off corruption charges after standing down, has died aged 68, a government spokesman said on Saturday. The cause of death was not immediately clear. Chiluba suffered from a chro
Published 19 Jun, 2011 12:00am
China arrests 19 over riots

China arrests 19 over riots

Authorities in China have arrested 19 people suspected of "provoking incidents" during three days of riots in the country's southern industrial heartland, state media said Saturday. The violence in Guangdong province was the latest in a series of flare-up
Published 19 Jun, 2011 12:00am
Philippines rules outhero's burial for dictator Marcos

Philippines rules outhero's burial for dictator Marcos

Philippine President Benigno Aquino has decided not to allow the body of late dictator Ferdinand Marcos to be buried in a cemetery for national heroes in Manila, his spokesman said on Saturday. Ricky Carandang, head of the presidential communications deve
Published 19 Jun, 2011 12:00am
Islamic reality TV show in Malaysia seeks best women preachers

Islamic reality TV show in Malaysia seeks best women preachers

A forthcoming Islamic reality television show in Malaysia aims to find the best women preachers and change conservative mindsets on the role of women in Muslim societies. The 13-episode prime time programme titled "Solehah", an Arabic word meaning "pious
Published 19 Jun, 2011 12:00am
Obama says still wonders about his absent father

Obama says still wonders about his absent father

Barack Obama, whose Kenyan father left his family when the future US president was 2 years old, said on Saturday he still thinks about how things would have worked out had his dad been there. "I felt his absence. And I wonder what my life would have been
Published 19 Jun, 2011 12:00am
Greeks protest as revamped government pursues cuts

Greeks protest as revamped government pursues cuts

Thousands of Greeks marched on parliament on Saturday in a show of unabated public anger after Prime Minister George Papandreou reshuffled his cabinet and vowed to push on with a belt-tightening campaign. In a move meant to stifle dissent in his Socialist
Published 19 Jun, 2011 12:00am
Almost half of Greek voters oppose austerity deal

Almost half of Greek voters oppose austerity deal

Almost half of Greek voters want parliament to reject a package of harsh economic reforms that the government has agreed in return for a second international bailout to avoid default, according to an opinion poll. The poll, in Sunday's edition of To Vima
Published 19 Jun, 2011 12:00am
Two US banks in Georgia and Florida close

Two US banks in Georgia and Florida close

US authorities closed two small banks on Friday, bringing the total number of closures so far this year to 47. McIntosh State Bank of Jackson, Georgia, with about $340 million in total assets, was closed, the Federal Deposit Insurance Corp said.
Published 19 Jun, 2011 12:00am
Pilatus to sign record aircraft deal with India

Pilatus to sign record aircraft deal with India

Switzerland's Pilatus Aircraft is about to sign a record deal to supply 75 of its successful PC-7 trainers to the Indian Air Force for 850 million francs ($1 billion), a press report said Saturday. The daily Le Temps, which described the contract as the b
Published 19 Jun, 2011 12:00am
Greek aid talks 'playing with fire': EU's Juncker

Greek aid talks 'playing with fire': EU's Juncker

German pressure to involve bondholders in helping debt-strapped Greece is pushing up the cost of the bailout, Eurogroup chairman Jean-Claude Juncker said in comments published on Saturday. "Because we have to seek a contribution from private creditors due
Published 19 Jun, 2011 12:00am
Greek aid talks 'playing with fire': EU's Juncker

Greek aid talks 'playing with fire': EU's Juncker

German pressure to involve bondholders in helping debt-strapped Greece is pushing up the cost of the bailout, Eurogroup chairman Jean-Claude Juncker said in comments published on Saturday. "Because we have to seek a contribution from private creditors due
Published 19 Jun, 2011 12:00am
Modern methods, research will feed hungry world: US

Modern methods, research will feed hungry world: US

The surest way to reduce world hunger is to help poor nations grow more food, US Agriculture Secretary Tom Vilsack said on Friday before a global meeting that will discuss food reserves and how to calm volatile markets.
Published 19 Jun, 2011 12:00am
Russia seeks 'unpaid taxes' from billionaire

Russia seeks 'unpaid taxes' from billionaire

A Siberian region is suing one of Russia's richest men for tens of millions of dollars in allegedly unpaid taxes, just after he announced he was entering politics, reports said on Saturday. The Lenosibirsk district of the Krasnoyarsk region of central Sib
Published 19 Jun, 2011 12:00am
Repsol, Alliance to form joint venture in Russia

Repsol, Alliance to form joint venture in Russia

Spanish oil company Repsol and Alliance Oil said in an joint statement on Saturday they have signed an agreement to form a joint venture for exploration and production in Russia. Alliance Oil will hold a 51 percent stake and contribute in the Volga-Urals
Published 19 Jun, 2011 12:00am
Russia warns Belarus to lift barriers or lose aid

Russia warns Belarus to lift barriers or lose aid

Russia threatened on Saturday to retaliate against Belarus, which is struggling to keep its currency stable, for considering trade restrictions to conserve scarce foreign currency reserves. Belarus undertook obligations to agree import restrictions with i
Published 19 Jun, 2011 12:00am
United Airlines back up after nation-wide glitch

United Airlines back up after nation-wide glitch

Systems are back up at United Airlines after a nation-wide computer outage drastically disrupted operations but delays were expected throughout the weekend, the US carrier said Saturday. "Our systems are up. We are in the process of resuming (operations),
Published 19 Jun, 2011 12:00am
Bank of Ireland agrees potential government placing

Bank of Ireland agrees potential government placing

Bank of Ireland agreed a potential government stock placing of up to 15 percent to facilitate talks with private capital, it said on Saturday as it scrambles to raise 4.2 billion euros ($6.0 billion). The bank is imposing losses of up to 90 percent on its
Published 19 Jun, 2011 12:00am
China cites 'vital' self-interests in EU debt fix

China cites 'vital' self-interests in EU debt fix

China's 'vital' interests are at stake if Europe cannot resolve its debt crisis, the Chinese Foreign Ministry said on Friday as it voiced concern about the economic problems of its biggest trading partner.
Published 19 Jun, 2011 12:00am
UK union leader warns of worst strikes since 1926

UK union leader warns of worst strikes since 1926

The leader of Britain's biggest public sector union has threatened to unleash the biggest wave of strikes in nearly 100 years to force the government to back down on planned pension reforms and deep spending cuts. The coalition government says it must pus
Published 19 Jun, 2011 12:00am
Euro climbs on Greece optimism; Fed meeting ahead

Euro climbs on Greece optimism; Fed meeting ahead

The euro rose for the second straight day against the US dollar on Friday and could extend gains next week on hopes that Greece will get a new aid package needed to avoid a default that could roil global markets. The leaders of Germany and France said on
Published 19 Jun, 2011 12:00am
Three-month Euribor rates rise to 1.5 percent

Three-month Euribor rates rise to 1.5 percent

Key euro-priced bank-to-bank lending rates rose above 1.5 percent for the first time in more than two years on Friday, supported by expectations that the ECB will hike official interest rates next month. The ECB last week signalled it would raise rates ne
Published 19 Jun, 2011 12:00am
Rouble off three-week low

Rouble off three-week low

The rouble rebounded from a three-week low versus the dollar on Friday, reflecting a rise in the euro against the greenback, but weaker oil prices continued to limit gains by the Russian unit. The rouble firmed 0.41 percent to 28.07 against the dollar, bo
Published 19 Jun, 2011 12:00am
African currencies outlook

African currencies outlook

Kenya's shilling may continue its free fall against the dollar next week amid calls for decisive action by the country's central bank, while the Ugandan and Tanzanian shillings are also staring at record lows.
Published 19 Jun, 2011 12:00am
Speculators raise bets against US dollar

Speculators raise bets against US dollar

Currency speculators boosted bets against the US dollar in the latest week to a five-week high, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short position rose to $25.14 billion in the week ended June
Published 19 Jun, 2011 12:00am
Canadian dollar edges higher

Canadian dollar edges higher

The Canadian dollar edged higher against the greenback on Friday as news of an outline agreement to aid debt-burdened Greece lifted investor confidence. But recent lackluster US economic data, including Friday's US consumer confidence data, have weighed o
Published 19 Jun, 2011 12:00am
Vale mega ships to cut freight costs by 20-25 percent

Vale mega ships to cut freight costs by 20-25 percent

Vale's mega bulk dry ships will cut freight costs from Brazil to top iron ore consumer China by 20 to 25 percent, a Vale executive told Reuters in an interview this week. With the introduction of a 400,000 deadweight tonne dry bulk freighter last month, B
Published 19 Jun, 2011 12:00am
Macedonia bank ups 2011 inflation forecast

Macedonia bank ups 2011 inflation forecast

Macedonia's central bank has revised up its 2011 inflation forecast to 4.5-5 percent from originally planned 3 percent, central bank governor Dimitar Bogov told Reuters in an interview on Friday. "Inflation has been rising by 1 percent each month since th
Published 19 Jun, 2011 12:00am
TD says balanced funds rule in uncertain market

TD says balanced funds rule in uncertain market

Investing in so-called balanced mutual funds, combining equities and fixed income, makes sense at a time when interest rates about to rise and stock markets are retrenching, the head of Toronto Dominion Bank's mutual fund unit said on Friday.
Published 19 Jun, 2011 12:00am
TD says balanced funds rule in uncertain market

TD says balanced funds rule in uncertain market

Investing in so-called balanced mutual funds, combining equities and fixed income, makes sense at a time when interest rates about to rise and stock markets are retrenching, the head of Toronto Dominion Bank's mutual fund unit said on Friday.
Published 19 Jun, 2011 12:00am
Food prices to be high and volatile: OECD, FAO

Food prices to be high and volatile: OECD, FAO

Food prices will be high and volatile for the next decade, driven by rising incomes in emerging nations and demand for biofuel, a joint OECD and FAO report forecast on Friday. Although prices will probably fall from high levels reached earlier this year,
Published 19 Jun, 2011 12:00am
China says corrupt officials flee with $120 billion

China says corrupt officials flee with $120 billion

Corrupt Chinese officials siphoned more than $120 billion out of the country in less than two decades, the central bank has said in a study highlighting the widespread scourge of government graft. Between 16,000 and 18,000 government officials and executi
Published 19 Jun, 2011 12:00am
AstraZeneca favours Russia and China, wary on India

AstraZeneca favours Russia and China, wary on India

Drugmaker AstraZeneca is betting on Russia and China rather than India to propel its expansion into emerging markets because of their safer intellectual property protection and higher prices. "We are putting additional investment into Russia," Chief Execu
Published 19 Jun, 2011 12:00am
Russia the best of the BRICs: Rencap's Jennings

Russia the best of the BRICs: Rencap's Jennings

Russia is the most attractive of the so-called BRIC markets, and political risk is concentrated in the West and not there, Steven Jennings, CEO of investment bank Renaissance Capital, said on Friday. In the longer term, the markets of Africa offer the gre
Published 19 Jun, 2011 12:00am
Harvesting completed in Argentina's top soya area

Harvesting completed in Argentina's top soya area

Harvesting of the 2010/11 soya crop in Argentina's top producing province of Buenos Aires reached completion over the last week, the Agriculture Ministry said in its weekly grains report released on Friday. Argentina is the world's No 1 soyameal and soyao
Published 19 Jun, 2011 12:00am
Mexico's next sugar harvest to drop on drought

Mexico's next sugar harvest to drop on drought

Mexico's next sugar harvest, damaged by a harsh drought, will fall by up to 7.3 percent from the current cycle, which is also coming in below expectations, the head of the national cane union said. On Friday, Carlos Blackaller told Reuters that Mexico wou
Published 19 Jun, 2011 12:00am
Activity at Karachi port

Activity at Karachi port

The Karachi Port handled 149,980 tonnes of cargo including 108,932 tonnes of import cargo, 41,048 tonnes of export cargo and 4,527 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 108,932 tonnes com
Published 19 Jun, 2011 12:00am
Ivorian cocoa prices rise

Ivorian cocoa prices rise

Cocoa farmgate prices in Ivory Coast's cocoa growing regions rose last week, Coffee and Cocoa Bourse (BCC) figures showed on Friday, amid strong demand from grinders and exporters. Prices for the West African state's main export have been rising slowly bu
Published 19 Jun, 2011 12:00am
Cocoa farmgate rise on strong demand

Cocoa farmgate rise on strong demand

Cocoa farmgate prices in Ivory Coast's cocoa growing regions rose last week, Coffee and Cocoa Bourse (BCC) figures showed on Friday, amid strong demand from grinders and exporters. Prices for the West African state's main export have been rising slowly bu
Published 19 Jun, 2011 12:00am
Lower Brazil's sugar output to tighten world supply

Lower Brazil's sugar output to tighten world supply

Dry weather is trimming sugar output from top supplier Brazil, a development that should support future prices and could prompt some mills to cancel delivery contracts, analysts at Datagro said. With harvest reaching top gear after a slow start to the sea
Published 19 Jun, 2011 12:00am
Corn export premiums firm

Corn export premiums firm

Corn export premiums at the US Gulf Coast were firm on Thursday as the recent plunge in futures prices spurred some renewed buyer interest, traders said. But elevated prices and good supplies of alternative feeds such as feed wheat restricted demand for U
Published 19 Jun, 2011 12:00am
Steady trend on cotton market on active mills' demand

Steady trend on cotton market on active mills' demand

Firmness prevailed on the cotton market on Saturday as no fall was seen in the mills demand in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unmoved at Rs 8,600, they said. In Sindh prices of new crop phutti
Published 19 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

July vaida was higher while December contract was unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The July contract that had closed at 1423.80 and it opened with gain of 40 paisa at Rs 1424.20. The Decem
Published 19 Jun, 2011 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Prices moved both ways on the wholesale grain market on Saturday in process of modest trading, dealers said. On the cereal side makai low type was down by Rs 75 to 2425 and the best type was also lower by Rs 187 to Rs 2438, in sympathy, juwar, followed th
Published 19 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 19 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 19 Jun, 2011 12:00am
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