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Archive - 2011-06-22
West Indies 131-3 at the close
Cricket

West Indies 131-3 at the close

KINGSTON: West Indies were 131 for three in their second innings on the third day of the first Test against India on We
Published 22 Jun, 2011 11:23pm
Obama to claim success for Afghan surge
Top News

Obama to claim success for Afghan surge

WASHINGTON: President Barack Obama will argue Wednesday his Afghan war surge forged substantial progress and a "positi
Published 22 Jun, 2011 08:03pm
Gold unchanged at Rs42,514
Markets

Gold unchanged at Rs42,514

KARACHI : Gold closed unchanged at Rs42,514 per 10 grams in local bullion market Wednesday, as its international price s
Published 22 Jun, 2011 07:16pm
President Obama telephones Zardari
Top News

President Obama telephones Zardari

ISLAMABAD: Pakistan and the United States have agreed to take steps to repair ties as President Barack Obama teleph
Published 22 Jun, 2011 06:39pm
'Reko Deq refinery to be set up soon'
Top News

'Reko Deq refinery to be set up soon'

QUETTA: Balochistan Finance Minister Mir Asim Kurd on Wednesday said the feasibility report for Reko deq gold and copper
Published 22 Jun, 2011 03:48pm
Marvi Memon quits NA, PML-Q
Top News

Marvi Memon quits NA, PML-Q

ISLAMABAD: PML-Q's Marvi Memon on Wednesday tendered resignation from memberships of the National assembly and the party
Published 22 Jun, 2011 03:25pm
Stocks end up; rupee firms
Markets

Stocks end up; rupee firms

KARACHI : Pakistani stocks ended up on Wednesday in light trading, as investors remained sidelined amid a lack of positi
Published 22 Jun, 2011 02:02pm
South Africa's Eskom auctions
Financial

South Africa's Eskom auctions

JOHANNESBURG : South African power utility Eskom aid on Wednesday it had sold 200 million rand ($29.52 million) of its E
Published 22 Jun, 2011 11:25am
Germany sells 3.4bn euros
Financial

Germany sells 3.4bn euros

LONDON : Germany sold 3.4 billion euros of 10-year government bonds on Wednesday, drawing decent bids as investors rem
Published 22 Jun, 2011 11:02am
Iran "confronts" oil price hike
Asia

Iran "confronts" oil price hike

TEHRAN : Iran said on Wednesday it will confront international oil price increase, state television quoted Iran 's
Published 22 Jun, 2011 10:04am
Palm flat as output rise
Commodities

Palm flat as output rise

JAKARTA : Malaysian palm oil futures traded flat on Wednesday, flirting with near one-week highs, as expectations of
Published 22 Jun, 2011 09:18am
SEC signs $989 million loan
Top News

SEC signs $989 million loan

JEDDAH: Saudi Electricity Company (SEC) signed on Wednesday a 12-year loan for $989.1 million with a group of internatio
Published 22 Jun, 2011 09:01am
China 'prone to corruption
Asia

China 'prone to corruption

BEIJING : Rapid social and economic changes have made China "prone to corruption" and the ruling Communist Party faces
Published 22 Jun, 2011 06:18am
Greece tackles reform drive
Europe

Greece tackles reform drive

ATHENS : After weathering a late-night confidence vote, Greece 's government on Wednesday was to finalise a multi-billi
Published 22 Jun, 2011 06:07am
NATO defends war credibility in Libya
Top News

NATO defends war credibility in Libya

TRIPOLI : NATO defended the credibility of its air war in Libya after a bomb misfired, killing civilians as Libyan sta
Published 22 Jun, 2011 05:47am
Dented sovereignty?
BR Research

Dented sovereignty?

By the time this goes into print, the government will have three days left to respond to the four Independent Power Producers of the country
Published 22 Jun, 2011 12:00am
Road to solvency
BR Research

Road to solvency

The global financial crisis has left countries wary of collapsing banking systems. Consequently, a global trend of countries beefing up the
Published 22 Jun, 2011 12:00am
US copper lower

US copper lower

Copper ended lower on Monday as investors reduced risk amid concerns over metals demand and global recovery prospects after the release of financial aid to Greece was delayed. In New York, the key September COMEX contract settled 2.85 cents lower at $4.09
Published 22 Jun, 2011 12:00am
New York cotton futures mixed

New York cotton futures mixed

US cotton futures settled mixed on Tuesday as players sought to unwind positions in the spot contract before it goes into the delivery period at the end of the week, analysts said. The spot July contract climbed on buying by players who needed to cover sh
Published 22 Jun, 2011 12:00am
Dr Khatu Mal takes oath as MNA

Dr Khatu Mal takes oath as MNA

The newly elected member on National Assembly's reserved seat Dr Khatu Mal Jeewan of PPP on Tuesday took oath as MNA. Deputy Speaker National Assembly, Faisal Karim Kundi administered the oath. Later, Dr Khatu Mal signed the 'Roll of Members'.
Published 22 Jun, 2011 12:00am
LPG price up by Rs five per kg

LPG price up by Rs five per kg

The marketing companies on Tuesday increased the price of Liquified Petroleum Gas (LPG) by Rs 5 per kg with immediate effect. Chairman LPG Distributors Association Muhammad Irfan Khokhar said the price of a domestic cylinder was raised by Rs 59 and commer
Published 22 Jun, 2011 12:00am
FBR detects Rs 265 million tax fraud by bank staff

FBR detects Rs 265 million tax fraud by bank staff

The Federal Board of Revenue (FBR) has detected a tax fraud involving Rs 265 million in Karachi, where some staff members of a bank fraudulently did not deposited the payments of withholding tax deducted on registration of cars into national exchequer.
Published 22 Jun, 2011 12:00am
ITP provides help to 2,754 distressed road users

ITP provides help to 2,754 distressed road users

Islamabad Traffic Police (ITP), during the current year, provided help to 2,754 distressed road users whose vehicles broke down on various roads of the city or they faced other problems like running out of fuel, said Senior Superintendent of Police (SSP-T
Published 22 Jun, 2011 12:00am
Clinton backs Saudi women's call for right to drive

Clinton backs Saudi women's call for right to drive

US Secretary of State Hillary Clinton on Tuesday publicly threw her support behind a campaign by Saudi women to lift a ban on female driving in the conservative oil-rich kingdom. "What these women are doing is brave, and what they are seeking is right," C
Published 22 Jun, 2011 12:00am
British teen arrested over CIA, US Senate hacking

British teen arrested over CIA, US Senate hacking

British police working with the FBI arrested a 19-year-old man over attacks by a hacker group on businesses and government agencies including the CIA, US Senate and Sony, Scotland Yard said Tuesday. The man, named in reports as Ryan Cleary, was detained o
Published 22 Jun, 2011 12:00am
Police halt Google 'Street View' project in India

Police halt Google 'Street View' project in India

Indian police said Tuesday they had ordered Google to stop taking photos of the city of Bangalore for its Street View product because of fears the images could be used by militants. Technology giant Google launched its plan to collect panoramic images of
Published 22 Jun, 2011 12:00am
US tightens Libya sanctions, targets foreign banks

US tightens Libya sanctions, targets foreign banks

The US government tightened sanctions against three Libya-controlled banks in Turkey, Tunisia and Lebanon on Tuesday, ratcheting up the pressure on leader Muammar Qadhafi's support. The US Treasury Department said it had targeted three foreign Libyan-owne
Published 22 Jun, 2011 12:00am
Britain can stay in Libya fight as long as needed: Cameron

Britain can stay in Libya fight as long as needed: Cameron

British Prime Minister David Cameron brushed aside doubts on Tuesday over how long Britain could maintain its role in Libya, saying it could stay in the fight for as long as needed. Senior British military officers have complained about the strain on defe
Published 22 Jun, 2011 12:00am
Flight chaos in Australia as ash cloud returns

Flight chaos in Australia as ash cloud returns

Hundreds of flights were grounded Tuesday in Sydney, Melbourne, Adelaide and Canberra as the Chilean ash cloud returned to Australian airspace with a vengeance. But the threat of prolonged disruption eased later in the day, with major airlines set to rest
Published 22 Jun, 2011 12:00am
US, Japan drop 2014 Okinawa base-transfer deadline

US, Japan drop 2014 Okinawa base-transfer deadline

The United States and Japan on Tuesday agreed to drop a 2014 deadline for building a new airstrip on Okinawa and transferring about 8,000 US Marines from that Japanese island to Guam, top officials said in a statement. "Completion of the FRF (Futenma Repl
Published 22 Jun, 2011 12:00am
Iran invites UN atom chief to see its nuclear sites

Iran invites UN atom chief to see its nuclear sites

Iran's nuclear energy chief said on Tuesday he had held "very good" and "transparent" talks with the head of the UN atomic agency and had invited him to visit the Islamic state's nuclear facilities. The rare meeting in Vienna between Fereydoun Abbasi-Dava
Published 22 Jun, 2011 12:00am
Seven protesters killed in Syria

Seven protesters killed in Syria

Syrian security forces shot dead seven people on Tuesday during clashes in two cities between President Bashar al-Assad's loyalists and protesters demanding his removal, a leading activist said. The violence followed rallies organised by authorities in se
Published 22 Jun, 2011 12:00am
EU extends Syria sanctions

EU extends Syria sanctions

European Union states agreed on Tuesday to extend sanctions against Syria to four military-linked firms and more people connected with the violent suppression of anti-government protests, an EU diplomat said. Lists prepared by Britain and France proposed
Published 22 Jun, 2011 12:00am
US unveils new graphic cigarette warnings

US unveils new graphic cigarette warnings

A lifeless body, a scarred mouth and a blackened lung were among the graphic images in a new set of cigarette warnings unveiled Tuesday by the US government in order to highlight the health risks of smoking. The warnings will occupy the top 50 percent of
Published 22 Jun, 2011 12:00am
Bombs kill 25 at Iraqi governor's house

Bombs kill 25 at Iraqi governor's house

Two bombings killed at least 25 people at a checkpoint outside a provincial Iraqi governor's house on Tuesday in the latest attack targeting local government and security forces. The suicide bomber blew himself up and a car bomb exploded outside the Diwan
Published 22 Jun, 2011 12:00am
Israel okays materials to build Gaza homes, schools

Israel okays materials to build Gaza homes, schools

Israel has approved the delivery to the Gaza Strip of materials to build 1,200 homes and 18 schools in UN-run projects, a defence official told AFP on Tuesday. The decision came shortly before the scheduled departure of an international convoy seeking to
Published 22 Jun, 2011 12:00am
Hurricane Beatriz lashes Mexico's tourist west coast

Hurricane Beatriz lashes Mexico's tourist west coast

Hurricane Beatriz bore down Tuesday on Mexico's resort-studded western coast with crashing waves and heavy rains dampening early summer holiday plans for thousands of tourists. Beatriz was forecast to begin moving away from the Mexico coast later Tuesday,
Published 22 Jun, 2011 12:00am
Japan's tsunami debris set for 10-year Pacific tour

Japan's tsunami debris set for 10-year Pacific tour

Debris sucked from the shoreline of Japan by the March 11 tsunami has embarked on a 10-year circuit of the North Pacific, posing an enduring threat to shipping and wildlife, a French green group says. The 9.0-magnitude earthquake and tsunami created an es
Published 22 Jun, 2011 12:00am
100 Yemeni troops killed in battle for Zinjibar

100 Yemeni troops killed in battle for Zinjibar

Battles raged Tuesday between Yemen's army and suspected al Qaeda militants for control of the southern city of Zinjibar, a military official said, as the number of soldiers killed passed the 100 mark. "We are engaged in fierce battles with terrorist elem
Published 22 Jun, 2011 12:00am
ADATA to exhibit latest products at Dawn Exposition

ADATA to exhibit latest products at Dawn Exposition

ADATA Technology Co Ltd, will participate in the Dawn Life Style 2011, Karachi to showcase complete memory and storage solutions for consumer, including DRAM modules, newly-developed life style & sports Flash modules, Solid State Drives, and Flash cards.
Published 22 Jun, 2011 12:00am
Condolence

Condolence

Muttahida Qaumi Movement (MQM) Rabita Committee has expressed deep sorrow and grief over the death of former chief justice of Sindh High Court, Justice (R) Kamal Mansoor Alam. The MQM Legal Aid Committee also organised a condolence reference to pay homage
Published 22 Jun, 2011 12:00am
New trade policy: businessmen asked to give suggestions

New trade policy: businessmen asked to give suggestions

Chief Executive, Trade Development Authority of Pakistan (TDAP), Tariq Puri has advised business community to present their complaint regarding Pakistan China Free Trade Agreement (FTA) at next meeting of commerce ministry advisory committee. Speaking at
Published 22 Jun, 2011 12:00am
SAI to organise Eid Bachat Bazaar

SAI to organise Eid Bachat Bazaar

The Site Association of Industry (SAI) will organise Eid Bachat Bazaar from August 5 to August 16, where 10 to 25 percent discount will be available to customers. Around 100 stalls to be set up at the Bachat Bazaar. The industrial workers and their famili
Published 22 Jun, 2011 12:00am
Screening, survey of Capital begins

Screening, survey of Capital begins

Islamabad Police have started screening and survey of the Federal Capital, which might help the Police to bring the crime rate in the city to the lowest ebb.
Published 22 Jun, 2011 12:00am
EU-specified boat modification programme delayed for one year

EU-specified boat modification programme delayed for one year

The EU-specified fishing boat modification programme of Rs 555 million has delayed for one year, rising fears the Europe Union ban on Pakistani seafood export is likely to continue because of the poor government preparations, sources in the fisheries sect
Published 22 Jun, 2011 12:00am
Government launching schemes to attract investors: Prime Minister

Government launching schemes to attract investors: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Tuesday said the government is launching various initiatives to attract investors to develop an organised, demand-driven skill development programme through public-private partnership.
Published 22 Jun, 2011 12:00am
Clearing growers' dues: government urged to purchase sugar from mills

Clearing growers' dues: government urged to purchase sugar from mills

Sugar millers have demanded of the government to purchase at least 300,000 tons of sugar from them so that they could be able to pay off the outstanding dues of sugarcane growers before the upcoming crushing season, Business Recorder has learnt. Th
Published 22 Jun, 2011 12:00am
CCP conducted six search/inspections during current year

CCP conducted six search/inspections during current year

The Competition Commission of Pakistan (CCP) conducted six search and inspections of associations, including two major undertakings, during the period from July-2010 to June 2011, reflecting increased level of enforcement by the commission.
Published 22 Jun, 2011 12:00am
Pakistan to 'host' Lanka, England in UAE

Pakistan to 'host' Lanka, England in UAE

Pakistan will play their next 'home' series against Sri Lanka and England in the neutral United Arab Emirates, an official said Tuesday, as security concerns continue to scare off foreign teams. The announcement comes after Sri Lanka turned down an invita
Published 22 Jun, 2011 12:00am
Ross Taylor named New Zealand skipper

Ross Taylor named New Zealand skipper

Batsman Ross Taylor was appointed New Zealand cricket captain Tuesday, replacing spin bowler Daniel Vettori, who stepped down in March after the World Cup. Taylor served as vice-captain under Vettori and his appointment was widely expected, with wicketkee
Published 22 Jun, 2011 12:00am
Top Russian referee killed in plane crash

Top Russian referee killed in plane crash

Russian football mourned the loss of a top match official who had just refereed his 100th Premier League game and died Tuesday in a fiery plane crash along with 43 others near his hometown. The 38-year-old Vladimir Pettai had been a top-flight Russian ref
Published 22 Jun, 2011 12:00am
Sri Lanka struggling without Murali, admits Sangakkara

Sri Lanka struggling without Murali, admits Sangakkara

Sri Lanka star Kumar Sangakkara called on his side to find "new ways of winning Tests" after his century in the drawn finale against England failed to prevent a 1-0 series loss. Sangakkara's 119, together with 87 not out from Thilan Samaraweera, helped Sr
Published 22 Jun, 2011 12:00am
Raina, Harbhajan lead India fightback

Raina, Harbhajan lead India fightback

Suresh Raina and Harbhajan Singh struck flamboyant half-centuries, yet India endured a rocky start to the first Test against West Indies on Monday. Raina hit the top score of 82, and Harbhajan supported with 70, as the Indians, electing to bat, were dismi
Published 22 Jun, 2011 12:00am
Etihad Airways official carrier for Pak Special Olympics team

Etihad Airways official carrier for Pak Special Olympics team

Etihad Airways, the national airline of United Arab Emirates, will be the exclusive official carrier for the Pakistan Special Olympics team participating in the upcoming "Special Olympics World Summer Games 2011" being held this year in Athens, Greece.
Published 22 Jun, 2011 12:00am
World Cup 2014 qualifying round: Pakistan meet Bangladesh on July 3

World Cup 2014 qualifying round: Pakistan meet Bangladesh on July 3

Pakistan Football Federation (PFF) has formed an organising committee to hold qualifying round football match between Pakistan and Bangladesh football teams in connection with World Cup 2014. The match will be played on July 3 here at Punjab Football Stad
Published 22 Jun, 2011 12:00am
Pakistan to play China in four-nation hockey today

Pakistan to play China in four-nation hockey today

Pakistan hockey team which lost to France in their opening match of UCD 4-Nation Hockey Tournament will take on China tomorrow, (Wednesday) at National Hockey Stadium, University College Dublin, Belfield. The green shirts will play their third match of th
Published 22 Jun, 2011 12:00am
Collingwood axed from ODI, Twenty20 squads

Collingwood axed from ODI, Twenty20 squads

Paul Collingwood was dropped from both the England Twenty20 and one-day squads announced Tuesday for the upcoming fixtures against Sri Lanka. The veteran all-rounder retired from Test duty after England's victorious Ashes campaign in Australia but was inc
Published 22 Jun, 2011 12:00am
Serena in tears, Federer off to flying start

Serena in tears, Federer off to flying start

Defending champion Serena Williams, who described her recent struggles against life-threatening blood clots as like being on her death bed, broke down in tears on Tuesday on her Wimbledon return. The four-time winner, watched by US pop superstar Diana Ros
Published 22 Jun, 2011 12:00am
Sania Mirza ousted

Sania Mirza ousted

India's Sania Mirza was knocked out of Wimbledon on Tuesday, losing 7-6 (7/4), 2-6, 6-3 in the first round to grieving Frenchwoman Virginie Razzano, recently bereaved by the death of her fiance. Playing with her left knee taped up, Mirza, 24, gave Razzano
Published 22 Jun, 2011 12:00am
World Bank unveils hedging tool to aid farmers

World Bank unveils hedging tool to aid farmers

The World Bank on Tuesday launched a new agricultural hedging tool that will provide an initial $4 billion to help farmers in poorer countries deal with food price volatility. The World Bank said the Agricultural Price Risk Management tool will improve ac
Published 22 Jun, 2011 12:00am
EU urges tariff standstill as Doha down payment

EU urges tariff standstill as Doha down payment

World Trade Organisation members should agree to a standstill on tariffs in December as a down payment toward a larger deal in long-running world trade talks, the top EU official said on Tuesday. EU Trade Commissioner Karel De Gucht told reporters he beli
Published 22 Jun, 2011 12:00am
Germany to open doors to foreign professionals

Germany to open doors to foreign professionals

Germany will ease restrictions on foreign doctors and engineers seeking work in the country in a bid to plug a yawning gap in the labour market of Europe's top economy, a minister said on Tuesday. Education and Research Minister Annette Schavan told the d
Published 22 Jun, 2011 12:00am
Airbus piles pressure on Boeing

Airbus piles pressure on Boeing

Airbus dominated the Paris Air Show on Tuesday with a stream of new orders for its fuel-efficient A320neo and hammered out a long-awaited final deal with an Indian airline that will set a new record in terms of numbers of planes sold. Indian budget carrie
Published 22 Jun, 2011 12:00am
Tata Group becomes India's wealthiest

Tata Group becomes India's wealthiest

India's leading conglomerate Tata Group has become the country's wealthiest in terms of market capitalisation, beating the combined wealth of the two Ambani brothers, stock exchange data showed Tuesday. The salt-to-steel Tata Group, led by chairman Ratan
Published 22 Jun, 2011 12:00am
Indian state halts land acquisition for POSCO plant

Indian state halts land acquisition for POSCO plant

The Indian state of Orissa said Tuesday it had temporarily halted land acquisition for a planned South Korean steel plant after mass protests by locals and rights groups. Some 1,000 women and children have joined recent demonstrations at the site where So
Published 22 Jun, 2011 12:00am
Carrefour CEO in front line after stormy AGM

Carrefour CEO in front line after stormy AGM

Carrefour handed the chairman's role to its chief executive at a stormy annual meeting, in an apparent attempt to soothe angry shareholders who question the board's ability to stand up to powerful investors. Carrefour Chairman Amaury de Seze on Tuesday to
Published 22 Jun, 2011 12:00am
German investor sentiment plummets

German investor sentiment plummets

Investor sentiment in Germany fell sharply in June because of worries about the eurozone debt crisis and a possible economic downturn in the United States, according to the ZEW index published on Tuesday. The ZEW Indicator of Economic Sentiment for Europe
Published 22 Jun, 2011 12:00am
US home sales hit six-month low

US home sales hit six-month low

Sales of previously owned US homes fell to a six-month low in May and prices dropped 4.6 percent from a year ago, pointing to a housing market still struggling to regain its footing. The National Association of Realtors said on Tuesday that sales slipped
Published 22 Jun, 2011 12:00am
Foster's rejects $10 billion SABMiller bid

Foster's rejects $10 billion SABMiller bid

SAB Miller said it would keep talking to Foster's Group after Australia's largest brewer rejected the global giant's A$9.5 billion ($10.1 billion) cash take-over offer as too low. Chief Executive Graham Mackay told analysts that SAB had not shown any inte
Published 22 Jun, 2011 12:00am
Sri Lankan rickshaw drivers say no to Nano taxis

Sri Lankan rickshaw drivers say no to Nano taxis

Hundreds of rickshaw drivers blocked streets in Sri Lanka's capital on Tuesday to protest the entry of India's Tata Nano, billed as the world's cheapest car, into the island's taxi market. The Federation of Self-Employees (FOSE) said its members, who most
Published 22 Jun, 2011 12:00am
Greece faces vote crucial to avoid default

Greece faces vote crucial to avoid default

Greek Prime Minister George Papandreou's cabinet is expected to survive a confidence vote late on Tuesday but must rapidly pass two more tests to avert the eurozone's first sovereign default. The vote follows a eurozone ultimatum that the debt-choked Medi
Published 22 Jun, 2011 12:00am
EU must forge single tack on Greece: Geithner

EU must forge single tack on Greece: Geithner

US Treasury Secretary Timothy Geithner on Tuesday called on European Union authorities to speak with a single voice on the Greek debt crisis. "I think it would be very helpful to have Europe speak with a clear, unique voice over a strategy" to tackle the
Published 22 Jun, 2011 12:00am
Shanghai to ration power to offices, malls

Shanghai to ration power to offices, malls

Authorities in China's financial hub Shanghai will for the first time ration power to thousands of office buildings and malls this summer due to chronic shortages, state media reported. Over 3,000 non-industrial businesses will have to turn off air condit
Published 22 Jun, 2011 12:00am
Hungary Prime Minister claims record debt reduction

Hungary Prime Minister claims record debt reduction

Hungary slashed its public debt by four percentage points, Prime Minister Viktor Orban announced on Tuesday, claiming a European record thanks to assets from nationalised private pension funds. Orban said state debt had decreased by 1.341 trillion forint
Published 22 Jun, 2011 12:00am
Asian currencies gain

Asian currencies gain

Asian emerging currencies gained on Tuesday amid hopes policymakers will find a solution to avoid a default by Greece, while purchases by a foreign central bank to buy South Korean bonds helped the won strengthen. These currencies have been choppy in rece
Published 22 Jun, 2011 12:00am
Indian rupee springs back

Indian rupee springs back

The Indian rupee bounced back on Tuesday from a three-week low touched in the previous session, supported by strong Asian currencies and positive local shares, but dollar demand from local oil firms capped further rise. The partially convertible rupee end
Published 22 Jun, 2011 12:00am
Yuan rises

Yuan rises

The yuan ended up against the dollar on Tuesday, just off an all-time high after the People's Bank Of China set a record high mid-point, but huge dollar demand around the end of the half year, capped a sharper rise. Spot yuan closed at 6.4655 versus the d
Published 22 Jun, 2011 12:00am
Swiss franc steadies

Swiss franc steadies

The Swiss franc moved further away on Tuesday from the all-time high hit against the euro on June 16 as investors hope the eurozone will find a way to prevent a Greek default. The franc hit a session high of 1.2065 per euro earlier in the day but was flat
Published 22 Jun, 2011 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 73.95/74.05 (previous 73.95/74.02). Call Money Rates: 9.00-12.00 percent (previous 12.00 percent).
Published 22 Jun, 2011 12:00am
Euro drops versus franc

Euro drops versus franc

The euro slid against the safe-haven Swiss franc on Monday and could fall further if investors continue to shun risk on fears that Greece may not receive another round of financial aid and end up defaulting on its debt. Euro zone finance ministers gave Gr
Published 22 Jun, 2011 12:00am
Midday trade in New York: euro rallies on Greece vote optimism

Midday trade in New York: euro rallies on Greece vote optimism

The euro gained for a fourth straight session as investors grew optimistic Greek Prime Minister George Papandreou would survive a confidence vote on Tuesday that could help avert a default on the country's debt. But traders said the euro's upside was limi
Published 22 Jun, 2011 12:00am
Euro rises in London

Euro rises in London

The euro rose on Tuesday as investors bet Greek Prime Minister George Papandreou would survive a confidence vote, a key hurdle the country must clear to avert a debt default. Traders were wary of holding short euro positions going into the parliamentary v
Published 22 Jun, 2011 12:00am
Euro extends gains in Asia

Euro extends gains in Asia

The euro extended gains in early Asian trade on Tuesday after remarks by the head of the eurozone bailout fund that the facility's guarantees will be raised triggered short-covering, though its advance could stall ahead of a confidence vote on the governm
Published 22 Jun, 2011 12:00am
Sterling falls versus euro

Sterling falls versus euro

Sterling fell against the euro on Tuesday after a key Bank of England policymaker struck a more dovish tone and forced some short term investors to reverse bullish bets built up in the past few days. BoE policymaker Paul Fisher flagged the chances of more
Published 22 Jun, 2011 12:00am
Aussie slips, New Zealand dollar outperforms

Aussie slips, New Zealand dollar outperforms

The Australian dollar gave ground on Tuesday after the country's central bank saw no urgent reason to raise interest rates and ratings agency Fitch unsettled markets by saying a Greek debt rollover would be the same as default. But gains in Asian equities
Published 22 Jun, 2011 12:00am
Commodities, banks drive FTSE higher

Commodities, banks drive FTSE higher

Britain's leading shares pushed higher on Tuesday, led by rallying commodity stocks and banks as investors awaited a vote of confidence in the Greek Parliament. The vote, due after the London market close, is seen as a key step towards the passage of more
Published 22 Jun, 2011 12:00am
Indian shares snap three-day fall

Indian shares snap three-day fall

Indian shares nudged higher for the first time in four sessions on Tuesday, largely helped by gains in beaten-down energy giant Reliance Industries and export-driven software firms following firmer world markets. Investors were unconvinced the market coul
Published 22 Jun, 2011 12:00am
Nikkei posts biggest daily gain

Nikkei posts biggest daily gain

Tokyo stocks rose 1 percent for their biggest daily gain in three weeks on Tuesday, led by auto stocks climbing on bullish comments from a brokerage but volume was thin and most players were on the sidelines ahead of a Federal Reserve policy meeting.
Published 22 Jun, 2011 12:00am
TSE to see shorter lunch break in November

TSE to see shorter lunch break in November

The Tokyo Stock Exchange will extend trading hours by 30 minutes in November after postponing the move in anticipation of power shortages in the summer following the March 11 disasters. The TSE will implement the new hours, which will effectively mean a s
Published 22 Jun, 2011 12:00am
Southeast Asian stocks regain some lost ground

Southeast Asian stocks regain some lost ground

Southeast Asian stock markets gained on Tuesday as hopes for a solution to Greece's debt problems buoyed sentiment across Asia, while a rebound in global crude prices lifted resource shares. The markets in Singapore and Indonesia climbed more than 1 perce
Published 22 Jun, 2011 12:00am
Seoul shares gain

Seoul shares gain

Seoul shares gained on Tuesday as banks and technology issues including KB Financial Group and LG Electronics rebounded sharply following recent sharp falls. The Korea Composite Stock Price Index finished up 1.41 percent at 2,048.17 points. KOSPI 200 Sept
Published 22 Jun, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasuries prices were little changed on Monday, as gains on Wall Street offset fears over contagion from Greece's fiscal crisis, slowing the bond market's momentum for a further decline in yield. Bond prices rose overnight after eurozone ministers sai
Published 22 Jun, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasuries prices were little changed on Monday, as gains on Wall Street offset fears over contagion from Greece's fiscal crisis, slowing the bond market's momentum for a further decline in yield. Bond prices rose overnight after eurozone ministers sai
Published 22 Jun, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.78 percent on Tuesday, lifted by banks and hotels including the Regent Taipei, but LCD panel maker Chi Mei plunged again after a media report said a unnamed major flat panel maker has seen its utilisation rate fall 10 percent. Tourism
Published 22 Jun, 2011 12:00am
US stocks move up

US stocks move up

US stocks rose on Monday, as the latest development to reduce Greece's debt helped draw buyers and the S&P 500 touched a key support level, but anaemic volume signalled the recent weakness may not be over. Stocks erased early losses as the S&P 500 dipped
Published 22 Jun, 2011 12:00am
Tuesday's midday trade: Wall Street rallies

Tuesday's midday trade: Wall Street rallies

US stocks advanced broadly on Tuesday as optimism grew over an upcoming confidence vote by the Greek parliament, a key hurdle for the country to avoid a debt default. Sales of existing US homes fell 3.8 percent in May, less than some economists had feared
Published 22 Jun, 2011 12:00am
Hong Kong, Chinese shares up

Hong Kong, Chinese shares up

Hong Kong shares posted mild gains on Tuesday but continued weakness in Chinese banking shares kept the benchmark rooted in oversold territory as investors remained cautious ahead of a confidence vote in the Greek government. The Hang Seng index, which op
Published 22 Jun, 2011 12:00am
Australian shares jump

Australian shares jump

Australian stocks jumped 1.3 percent on Tuesday, buoyed by sharp rises in banks and miners and a $10 billion bid for top brewer Foster's Group. Foster's rejected a long-expected bid from global brewing giant SABMiller, triggering a 13 percent rise in its
Published 22 Jun, 2011 12:00am
Middle East markets: Saudi bourse bounces

Middle East markets: Saudi bourse bounces

The Saudi bourse bounced back on Tuesday, tracking oil and gains in global shares, while Abu Dhabi Commercial Bank fell after a report warned the lender's earnings could be diluted this year. The Saudi index gained 1.4 percent, snapping a five-session los
Published 22 Jun, 2011 12:00am
World Bank raises Ukraine growth forecast, urges reform

World Bank raises Ukraine growth forecast, urges reform

The World Bank has raised its forecast for Ukraine's economic growth this year to 4.5 percent from 4.0 percent, the bank said on Tuesday citing faster-then-expected expansion in the first quarter. However, it said growth remained volatile and would be mor
Published 22 Jun, 2011 12:00am
Low trading seen on grain market

Low trading seen on grain market

Low trading activity was witnessed on the wholesale grain market on Tuesday as most of the commodity items maintained overnight levels in process of trading, dealers said. On the cereal side wheat old bardan and new bardan extended rise, gaining by Rs 25
Published 22 Jun, 2011 12:00am
US Plains HRW wheat bids firmer

US Plains HRW wheat bids firmer

Hard red winter wheat basis bids were steady to firmer on Tuesday as harvest advanced north. Harvest results varied widely with some producers reporting better-than-expected yields and quality and others disappointed. Drought, hail and recent rains have c
Published 22 Jun, 2011 12:00am
Trading activity gains momentum on cotton market

Trading activity gains momentum on cotton market

Trading activity improved on the cotton market on Tuesday as prices of seedcotton showed increase despite the news that India is permitting exporters to export more cotton, dealers said. The Karachi Cotton Association (KCA) official spot rate was unmoved
Published 22 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

Both the contracts did not show any change on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The July contract that had closed at 1424.20 opened with no variation at Rs 1424.40. The December vaida which ended at Rs 1
Published 22 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 149,095 tonnes of cargo including 95,575 tonnes of import cargo, 53,520 tonnes of export cargo and 5,623 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 95,575 tonnes compri
Published 22 Jun, 2011 12:00am
Vietnamese coffee prices fall

Vietnamese coffee prices fall

Vietnamese coffee prices fell this week by less than London robusta futures, leaving export quotations above global levels, raising the risk of defaults especially when stocks are dwindling, traders said on Tuesday. Exporters have delayed loading part of
Published 22 Jun, 2011 12:00am
US Midwest corn, soya bids steady to softer

US Midwest corn, soya bids steady to softer

Corn and soyabean spot basis bids were steady to softer around the US Midwest on Monday amid tight old-crop supplies and scattered sales, dealers said. There are few farmers that have crop supplies remaining in on-farm storage bins so the producers hold o
Published 22 Jun, 2011 12:00am
US wheat futures dip to 6-1/2 months low

US wheat futures dip to 6-1/2 months low

US wheat futures dropped to a 6-1/2 months low on Monday, posting declines for the sixth straight session on advancing harvest of the US winter wheat crop and better crop weather in Europe. Improved growing weather in the United States also led to better
Published 22 Jun, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Monday for a third day in thin volume, pressured by a late sell-off that pared gains in US soya markets, traders said. Total volume was 6,035 contracts, the smallest since May 30 and the third-smallest daily tally of 20
Published 22 Jun, 2011 12:00am
Swollen shoot advancing in Ivory Coast cocoa belt

Swollen shoot advancing in Ivory Coast cocoa belt

Swollen shoot disease, which has hit cocoa crops in central Ivory Coast, is advancing west into the cocoa belt and researchers are still years away from finding tree varieties resistant to the virus, a top government scientist said on Tuesday. Tiemoko Yo,
Published 22 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 22 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 22 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 22 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 22 Jun, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Senate confirms Panetta to head Pentagon

Senate confirms Panetta to head Pentagon

The US Senate Tuesday unanimously confirmed CIA chief Leon Panetta's nomination to be defense secretary, replacing the outgoing head of the Pentagon, Robert Gates. All 100 members of the Senate approved the nomination of Panetta, who turns 73 next week, h
Published 22 Jun, 2011 12:00am
Zardari severely flays Nawaz

Zardari severely flays Nawaz

President Asif Ali Zardari on Tuesday night held 'Nawaz Sharif thinking' responsible for Benazir Bhutto's murder. Addressing a programme in connection with Benazir Bhutto's 58th birth anniversary in Naudero Zardari said that he and his party gave Nawaz Sh
Published 22 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (June 21, 2011).
Published 22 Jun, 2011 12:00am
Zardari severely flays Nawaz

Zardari severely flays Nawaz

President Asif Ali Zardari on Tuesday night held 'Nawaz Sharif thinking' responsible for Benazir Bhutto's murder. Addressing a programme in connection with Benazir Bhutto's 58th birth anniversary in Naudero Zardari said that he and his party gave Nawaz Sh
Published 22 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Centre may slash PSDP

Centre may slash PSDP

The federal government may be compelled to considerably slash Public Sector Development Programme (PSDP) in the forthcoming fiscal year to achieve the 4 percent fiscal deficit target as all the four provinces have failed to present a consolidated surplus
Published 22 Jun, 2011 12:00am
Centre may slash PSDP

Centre may slash PSDP

The federal government may be compelled to considerably slash Public Sector Development Programme (PSDP) in the forthcoming fiscal year to achieve the 4 percent fiscal deficit target as all the four provinces have failed to present a consolidated surplus
Published 22 Jun, 2011 12:00am
Centre may slash PSDP

Centre may slash PSDP

The federal government may be compelled to considerably slash Public Sector Development Programme (PSDP) in the forthcoming fiscal year to achieve the 4 percent fiscal deficit target as all the four provinces have failed to present a consolidated surplus
Published 22 Jun, 2011 12:00am
Index gains 160.16 points

Index gains 160.16 points

Hefty short covering, mainly in E&P stocks, on Tuesday supported the KSE-100 index to register healthy gains of 160.16 points to close at 12,326.14 points. The market opened on a strong positive note and the index hit 12,350.89 points intra-day high level
Published 22 Jun, 2011 12:00am
Index gains 160.16 points

Index gains 160.16 points

Hefty short covering, mainly in E&P stocks, on Tuesday supported the KSE-100 index to register healthy gains of 160.16 points to close at 12,326.14 points. The market opened on a strong positive note and the index hit 12,350.89 points intra-day high level
Published 22 Jun, 2011 12:00am
Index gains 160.16 points

Index gains 160.16 points

Hefty short covering, mainly in E&P stocks, on Tuesday supported the KSE-100 index to register healthy gains of 160.16 points to close at 12,326.14 points. The market opened on a strong positive note and the index hit 12,350.89 points intra-day high level
Published 22 Jun, 2011 12:00am
BRIndex30 up 148.23 points

BRIndex30 up 148.23 points

On Tuesday, the BRIndex30 opened at 8,492.45 points. It touched the intra-day high of 8,660.25 points and low of 8,487.84 points, and closed at 8,640.68 points with a net positive change of 148.23 points, or 1.75 percent higher than previous close.
Published 22 Jun, 2011 12:00am
BRIndex30 up 148.23 points

BRIndex30 up 148.23 points

On Tuesday, the BRIndex30 opened at 8,492.45 points. It touched the intra-day high of 8,660.25 points and low of 8,487.84 points, and closed at 8,640.68 points with a net positive change of 148.23 points, or 1.75 percent higher than previous close.
Published 22 Jun, 2011 12:00am
Pakistan imports two million cotton bales from India

Pakistan imports two million cotton bales from India

Despite claims of being self-sufficient in cotton production, Pakistan imported two million bales of cotton worth Rs 40 billion. Well-placed sources told Business Recorder here on Tuesday that total cotton import from India so far stood at two mill
Published 22 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 21, 2011).

Published 22 Jun, 2011 12:00am
Pakistan imports two million cotton bales from India

Pakistan imports two million cotton bales from India

Despite claims of being self-sufficient in cotton production, Pakistan imported two million bales of cotton worth Rs 40 billion. Well-placed sources told Business Recorder here on Tuesday that total cotton import from India so far stood at two mill
Published 22 Jun, 2011 12:00am
Pakistan imports two million cotton bales from India

Pakistan imports two million cotton bales from India

Despite claims of being self-sufficient in cotton production, Pakistan imported two million bales of cotton worth Rs 40 billion. Well-placed sources told Business Recorder here on Tuesday that total cotton import from India so far stood at two mill
Published 22 Jun, 2011 12:00am
US view: taxation steps a start in right direction

US view: taxation steps a start in right direction

The United States recognises the recent taxation measures taken by the government of Pakistan as 'a start in the right direction' with the objective of broadening the tax net through bringing 0.7 million people into the tax net. The US is a major supporte
Published 22 Jun, 2011 12:00am
US view: taxation steps a start in right direction

US view: taxation steps a start in right direction

The United States recognises the recent taxation measures taken by the government of Pakistan as 'a start in the right direction' with the objective of broadening the tax net through bringing 0.7 million people into the tax net. The US is a major supporte
Published 22 Jun, 2011 12:00am
US view: taxation steps a start in right direction

US view: taxation steps a start in right direction

The United States recognises the recent taxation measures taken by the government of Pakistan as ''a start in the right direction'' with the objective of broadening the tax net through bringing 0.7 million people into the tax net. The US is a major suppor
Published 22 Jun, 2011 12:00am
Finance Bill 2011: Key amendments proposed

Finance Bill 2011: Key amendments proposed

Ministry of Finance and Federal Board of Revenue (FBR) have proposed some major amendments to the Finance Bill 2011 including a revision in the procedure of tax credit for the newly-established industrial undertakings, amended advance ruling for foreign i
Published 22 Jun, 2011 12:00am
Finance Bill 2011: Key amendments proposed

Finance Bill 2011: Key amendments proposed

Ministry of Finance and Federal Board of Revenue (FBR) have proposed some major amendments to the Finance Bill 2011 including a revision in the procedure of tax credit for the newly-established industrial undertakings, amended advance ruling for foreign i
Published 22 Jun, 2011 12:00am
Finance Bill 2011: Key amendments proposed

Finance Bill 2011: Key amendments proposed

Ministry of Finance and Federal Board of Revenue (FBR) have proposed some major amendments to the Finance Bill 2011 including a revision in the procedure of tax credit for the newly-established industrial undertakings, amended advance ruling for foreign i
Published 22 Jun, 2011 12:00am
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