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Archive - 2011-06-24
Bear Creek concession to cancel
World

Bear Creek concession to cancel

LIMA : Peru 's government will cancel a concession for the Canadian firm Bear Creek's Santa Ana project after anti-mi
Published 24 Jun, 2011 03:42pm
Black Sea billet demand shrinks
Top News

Black Sea billet demand shrinks

LONDON : Black Sea billet prices fell this week and are expected to fall further as demand shrinks on concerns about t
Published 24 Jun, 2011 03:28pm
Corn, Soybeans firm steady
Commodities

Corn, Soybeans firm steady

CHICAGO : Basis bids for corn shipped by barge to the US Gulf Coast were steady to firm early on Friday, underpinned by
Published 24 Jun, 2011 03:15pm
Stocks end down; rupee weakens
Markets

Stocks end down; rupee weakens

KARACHI: Pakistani stocks ended lower on Friday as investors booked profits after the market closed on a five-month high
Published 24 Jun, 2011 02:30pm
Corn extends rebound as oil
Commodities

Corn extends rebound as oil

SINGAPOREUS: corn futures rose 2 percent on Friday as they continued to pull away from a three-month low, as a deal betw
Published 24 Jun, 2011 01:45pm
Bunds erase losses
Financial

Bunds erase losses

LONDON : Bund futures erased losses on Friday as jittery traders sought out safe haven assets citing reports that the eu
Published 24 Jun, 2011 01:36pm
TSX may open lower
Financial

TSX may open lower

CANADA : Toronto 's main stock index looked set to open slightly lower on Friday, with a softer bullion price likely
Published 24 Jun, 2011 01:23pm
Court adjourns Shoaib appeal
Cricket

Court adjourns Shoaib appeal

LAHORE : A Pakistani court on Friday adjourned an appeal by retired international paceman Shoaib Akhtar against a record
Published 24 Jun, 2011 01:21pm
US GDP growth revised up to 1.9pc
Top News

US GDP growth revised up to 1.9pc

WASHINGTON : US economic growth in the first quarter was revised up by a tenth of a point to a 1.9 percent annual pace,
Published 24 Jun, 2011 12:52pm
Wen starts tour in Europe
Top News

Wen starts tour in Europe

BUDAPEST : Chinese Prime Minister Wen Jiabao embarked on Friday, a visit to Europe mired in currency and sovereign deb
Published 24 Jun, 2011 11:18am
Indian shares gain
Financial

Indian shares gain

MUMBAI: Indian shares logged their first weekly gain in three weeks, rising 2.9 percent on Friday, with support from
Published 24 Jun, 2011 11:11am
20 kg explosive material defused
Top News

20 kg explosive material defused

KARACHI : The Police, with the assistance of Bomb Disposal Squad (DMS), defused 20 kg explosive material found in a resi
Published 24 Jun, 2011 07:31am
LPG prices register Rs5 per kg increase
Top News

LPG prices register Rs5 per kg increase

ISLAMABAD: The LPG Marketing Companies on Friday again increased the LPG price by Rs.5 per kg, Rs.60 per domestic cylind
Published 24 Jun, 2011 06:39am
Cell phone links OBL to agencies: Report
Top News

Cell phone links OBL to agencies: Report

WASHINGTON: A cell phone used by Osama bin Laden's courier appears to show that the al Qaeda leader was aided by milit
Published 24 Jun, 2011 06:37am
50,000 flee storm in Philippines
Asia

50,000 flee storm in Philippines

MANILA: Some 50,000 people were in evacuation centres in the Philippines on Friday after fleeing their homes following
Published 24 Jun, 2011 04:16am
Oil rebounds from heavy losses
Energy

Oil rebounds from heavy losses

SINGAPORE : Oil rebounded in Asian trade Friday from heavy losses overnight after the International Energy Agency's deci
Published 24 Jun, 2011 04:10am
Energize now!
BR Research

Energize now!

British Petroleums latest World Energy Statistical Review confirms what pundits have been expecting for long: China has become the world lea
Published 24 Jun, 2011 12:00am
PAD arranges training course on 'bee-keeping'

PAD arranges training course on 'bee-keeping'

The Punjab Agriculture Department (PAD) is organising a week-long training course on 'bee-keeping' for men and women. The course will start on July 04, 2011 and is being arranged at 'Bee-keeping research centre' Rawalpindi. Basic objective of this course
Published 24 Jun, 2011 12:00am
Protection of Sahiwal cattle breed: UVAS to support farmers

Protection of Sahiwal cattle breed: UVAS to support farmers

The University of Veterinary and Animal Sciences (UVAS) will extent all out support to farmers who want to protect the Sahiwal cattle breed. It comprises about 11 per cent of the total 36 per cent pure-bred animals in the country.
Published 24 Jun, 2011 12:00am
Sheikhupura Dry Port: Korean Rail to join freight trains operation

Sheikhupura Dry Port: Korean Rail to join freight trains operation

The Lahore Chamber of Commerce and Industry (LCCI), President Shahzad Ali Malik, has said that Korean Rail has been taken on board for having freight trains for Sheikhupura Dry Port and hoped that Pakistan Railways would hand over land to the Sheikhupura
Published 24 Jun, 2011 12:00am
Sri Lankan students awarded scholarship

Sri Lankan students awarded scholarship

Pakistan has awarded SL Rs 2.56 million educational scholarships to 107 bright Sri Lankan students of O/L and A/L under Jinnah Educational Scholarship programme, Pakistan High Commission in Colombo told Business Recorder on Thursday.
Published 24 Jun, 2011 12:00am
PU, IFC hold training session

PU, IFC hold training session

Punjab University Department of Gender Studies, in collaboration with International Finance Corporation (IFC), organised a training session on "Alternate Dispute Resolution and Mediation" here on Thursday. IFC Project Officer Asfandyar Ali Khan was the ch
Published 24 Jun, 2011 12:00am
US MIDDAY: gold plunges two percent

US MIDDAY: gold plunges two percent

Gold fell 2 percent early on Thursday, set for its biggest one-day fall in more than a month, after a surprise increase in US jobless claims hit investor risk appetite and boosted the dollar, pummelling commodity and stock markets. Investors sold gold to
Published 24 Jun, 2011 12:00am
US MIDDAY: copper lower

US MIDDAY: copper lower

Copper ended down for a second straight day on Thursday as a strengthening dollar and heightened concerns about slowing global economic growth triggered a wave of risk aversion across the commodities complex. In New York, the key September COMEX contract
Published 24 Jun, 2011 12:00am
US MIDDAY: grains fall

US MIDDAY: grains fall

US corn fell to three-month low early on Thursday as a surge in the dollar and sharply lower crude oil prices triggered another wave of selling. Corn futures recouped some losses on bargain buying after posting the biggest two-day drop in nearly 2-1/2 yea
Published 24 Jun, 2011 12:00am
US MIDDAY: sugar, cocoa and coffee down

US MIDDAY: sugar, cocoa and coffee down

Soft commodity markets tumbled early on Thursday, as the commodity complex turned lower, tracking oil which shed over $6 a barrel on a release of stocks by the International Energy Agency. ICE July raw sugar futures were down 0.84 cent or 3.1 percent at 2
Published 24 Jun, 2011 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold was set for its biggest daily fall in over a month on Thursday after a surprisingly large rise in weekly US jobless claims hit investor risk appetite, pummelling commodities and stocks and boosting the dollar. Gold was already in negative territory e
Published 24 Jun, 2011 12:00am
Gold falls in Asia

Gold falls in Asia

Gold fell on Thursday, snapping a four-day winning streak, as the dollar gained after the Federal Reserve gave no hint of further stimulus, but gold priced in sterling hit a record high as the British currency sagged on the possibility of more easing.
Published 24 Jun, 2011 12:00am
US gold pares gains

US gold pares gains

Gold eked out a fourth day of gains on Wednesday, paring an earlier push toward a record high after Federal Reserve Chairman Ben Bernanke offered no hope for a more prolonged period of monetary support, boosting the dollar. US August gold futures settled
Published 24 Jun, 2011 12:00am
Liffe coffee lower

Liffe coffee lower

Liffe September robusta coffee ended off $36 at $2,216 a tonne on Thursday after hitting $2,205 earlier in the session, the lowest level for the benchmark second month in almost five months. Market weighed by steep losses in crude oil and other commodity
Published 24 Jun, 2011 12:00am
Malaysian palm oil hits seven-month low

Malaysian palm oil hits seven-month low

Malaysian palm oil futures touched a seven-month low on Thursday, as comparative oils and expectations of higher second half production in Southeast Asia weighed on prices. The benchmark September crude palm oil contract on the Bursa Malaysia Derivatives
Published 24 Jun, 2011 12:00am
New York coffee and sugar down

New York coffee and sugar down

Arabica coffee futures nudged down to close at the lowest level in nearly five months on Wednesday, in quiet dealings that lacked conviction after falling more than 20 percent from last month's 34-year top. US cocoa reversed to close up a shade while raw
Published 24 Jun, 2011 12:00am
Tokyo and Shanghai rubber decline

Tokyo and Shanghai rubber decline

Key Tokyo rubber futures fell on Thursday, as a drop in Shanghai rubber futures and supplies from Thailand, the top producer, dampened sentiment. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery fell 4.3 yen, or 1.2 per
Published 24 Jun, 2011 12:00am
Oil dives to four-month low

Oil dives to four-month low

Oil prices tumbled 6 percent on Thursday after the world's biggest consumers released emergency oil reserves for the third time ever, a surprise intervention to aid the struggling global economy. Oil hit the lowest since February after the International E
Published 24 Jun, 2011 12:00am
Oil dives to four-month low

Oil dives to four-month low

Oil prices tumbled 6 percent on Thursday after the world's biggest consumers released emergency oil reserves for the third time ever, a surprise intervention to aid the struggling global economy. Oil hit the lowest since February after the International E
Published 24 Jun, 2011 12:00am
Oil dives to four-month low

Oil dives to four-month low

Oil prices tumbled 6 percent on Thursday after the world''s biggest consumers released emergency oil reserves for the third time ever, a surprise intervention to aid the struggling global economy. Oil hit the lowest since February after the International
Published 24 Jun, 2011 12:00am
Copper declines

Copper declines

Copper fell on Thursday on a stronger dollar and concerns about demand in the United States after the Federal Reserve cut its forecasts for economic growth in the world's largest economy. Data showing big metal consumer China's factory sector was close to
Published 24 Jun, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Copper drifted lower on Thursday as the dollar strengthened after the US Federal Reserve gave no hint of further monetary support even as it acknowledged the world's biggest economy was recovering more slowly than it had expected. Shanghai's most-active S
Published 24 Jun, 2011 12:00am
US copper slips

US copper slips

Copper held in negative territory late Wednesday as the dollar bounced against the euro and the Federal Reserve cut its forecasts for US economic growth but offered no indication of further monetary policy support. In New York, the key September COMEX con
Published 24 Jun, 2011 12:00am
New York key cotton contract dips

New York key cotton contract dips

Spot US cotton futures pushed higher for a fourth straight session on Thursday, as short position holders scrambled to cover ahead of the start of delivery period on Friday. The rest of the board ended lower, falling under the weight of a stronger dollar
Published 24 Jun, 2011 12:00am
Alliance will finish job in Libya: Nato chief

Alliance will finish job in Libya: Nato chief

Nato's chief on Thursday slapped down a call from Italy for a suspension of hostilities in Libya and tried to reassure wavering members of the Western coalition that Muammar Qadhafi can be beaten. Italy's cease-fire call exposed the strain on the Nato all
Published 24 Jun, 2011 12:00am
Egyptian jailed for 25 years on spying for Israel

Egyptian jailed for 25 years on spying for Israel

An Egyptian accused of spying for Israel was sentenced on Thursday to 25 years in jail by a special court. Cairo's supreme state security court found Tarek Abdel Razek, who was arrested last year, and two Israeli officers guilty of "acts of espionage" on
Published 24 Jun, 2011 12:00am
Protests erupt in Senegal over controversial law

Protests erupt in Senegal over controversial law

Senegalese police lobbed tear gas at thousands of protesters who amassed in the capital Thursday to oppose proposed changes to the constitution that critics said would benefit the long-time president and his family. Clouds of tear gas enveloped the square
Published 24 Jun, 2011 12:00am
Syrian troops mass near Turkey border, refugees flee

Syrian troops mass near Turkey border, refugees flee

Syrian troops massed near the Turkish border, witnesses said on Thursday, raising tensions with Ankara as President Bashar al-Assad uses increasing military force against a popular revolt. Turkey said the two countries' foreign ministers had consulted by
Published 24 Jun, 2011 12:00am
Afghan court overturns election results

Afghan court overturns election results

An Afghan special court overturned a string of results Thursday from last year's fraud-hit parliamentary polls, causing deep splits in the political system with US troops poised to start withdrawing. The head of the tribunal, Sidiquallah Haqiq, read out a
Published 24 Jun, 2011 12:00am
EU parliament approves Draghi as next ECB president

EU parliament approves Draghi as next ECB president

Italian central banker Mario Draghi won the endorsement of the European Parliament on Thursday to become the next president of the European Central Bank (ECB). The vote came hours before the start of a two-day European Union summit which is meant to give
Published 24 Jun, 2011 12:00am
Maliki wants to downsize government

Maliki wants to downsize government

Iraqi Prime Minister Nuri al-Maliki said on Thursday he wanted to shrink his government and fire weak ministers to meet protesters' demands for improved government services. In a final evaluation of his fragile government coalition following the passing o
Published 24 Jun, 2011 12:00am
Bombs kill 21 in Baghdad

Bombs kill 21 in Baghdad

Three bombs exploded near a market and a religious site in south-western Baghdad on Thursday, killing at least 21 people and wounding 42 others, hospital and security sources said. The explosions occurred in quick succession in the Shurta district of the
Published 24 Jun, 2011 12:00am
India blasts US over treatment of its diplomats

India blasts US over treatment of its diplomats

India has reacted angrily to a court case lodged against a diplomat in New York who is accused of sexually harassing his house maid and treating her like a slave. The maid, 45-year-old Santosh Bhardwaj, filed a lawsuit on Monday in a US court against Indi
Published 24 Jun, 2011 12:00am
Russia finds nuclear safety faults after Fukushima

Russia finds nuclear safety faults after Fukushima

Russia's nuclear power plants are dangerously under-prepared for earthquakes and other disasters, said a state review conducted after Japan's Fukushima accident and obtained Thursday by AFP. The unusually candid survey was presented to a council chaired b
Published 24 Jun, 2011 12:00am
Anti-apartheid stalwart Asmal dies at 76

Anti-apartheid stalwart Asmal dies at 76

Kader Asmal, a respected veteran of the struggle against apartheid who then fought to ensure South Africa lived up to its democratic ideals, has died at the age of 76, his family said Thursday. Asmal was admitted to the Constantiaberg Medi Clinic on June
Published 24 Jun, 2011 12:00am
Bangladesh court sentences former Prime Minister's son to jail for graft

Bangladesh court sentences former Prime Minister's son to jail for graft

A Bangladesh court sentenced on Thursday Arafat Rahman Koko, the younger son of former prime minister Begum Khaleda Zia, to six years in prison for laundering $2.7 million received as kickbacks from foreign companies, court officials said. The verdict cou
Published 24 Jun, 2011 12:00am
Obama's Afghanistan plan criticised by both parties

Obama's Afghanistan plan criticised by both parties

Congressional Democrats are leading the criticism of President Barack Obama's plan for withdrawing US troops from Afghanistan, arguing that his timeline for bringing 33,000 home by next summer is not fast enough. An initial withdrawal of 10,000 troops is
Published 24 Jun, 2011 12:00am
Greek soccer bosses named in corruption scandal

Greek soccer bosses named in corruption scandal

The presidents of two Super League clubs were among the 15 people who were on Thursday identified by the Athens prosecutor for their alleged involvement in match-fixing. Achilleas Beos of Olympiakos Volos and Kavala's Stavros Psomiadis were arrested along
Published 24 Jun, 2011 12:00am
Afridi plays with ailing children of Make A Wish

Afridi plays with ailing children of Make A Wish

Make A Wish Foundation Pakistan granted the wishes of 10 children suffering from life threatening illnesses whose cherished wishes were to meet their cricket hero Shahid Khan Afridi. Shahid Afridi met on Thursday these ailing children at a special wish gr
Published 24 Jun, 2011 12:00am
PCB forms permanent disciplinary committee

PCB forms permanent disciplinary committee

Pakistan Cricket Board has formed a permanent disciplinary committee to deal with players' issues, a private news channel reported here on Thursday. The budget session of the Pakistan Cricket Board (PCB) governing body under its chairman Ijaz Butt was hel
Published 24 Jun, 2011 12:00am
Bangladesh fire coach for refusing to travel to Pakistan

Bangladesh fire coach for refusing to travel to Pakistan

Bangladesh have sacked national team coach Gjore Jovanovski as he is unwilling to travel to Pakistan for a World Cup football qualifier, officials said. Jovanovski was named Bangladesh coach on June 14, replacing Croatian Robert Rubcic who was axed after
Published 24 Jun, 2011 12:00am
PFF body discusses arrangements for Pak-Bangladesh soccer tie

PFF body discusses arrangements for Pak-Bangladesh soccer tie

The Organising Committee of Pakistan Football Federation (PFF) discussed security, protocol and other arrangements for football match to be played between Pakistan and Bangladesh on July 3 here at Punjab Stadium in connection with World Cup 2014 qualifyin
Published 24 Jun, 2011 12:00am
National T20 Cricket Cup from today

National T20 Cricket Cup from today

As many as eight cricket teams are participating in National T20 Cricket Cup that will be staged at Iqbal Stadium Faisalabad from June 24 to July 01. The participating teams have been divided into two pools. Pool-A is comprised of Lahore Lions, Sialkot St
Published 24 Jun, 2011 12:00am
Pakistan, India in World Cup polo final

Pakistan, India in World Cup polo final

Pakistan will take on arch-rivals India in the final of World Cup Zone D play off on June 25 at Malaysia. Pakistan on its way to the final, struck unmatched performance winnings its all three back to back matches against Nigeria, South Africa and Australi
Published 24 Jun, 2011 12:00am
Dravid's class and pacemen hand India initiative

Dravid's class and pacemen hand India initiative

A typically resolute century by Rahul Dravid and the new-ball pair of Ishant Sharma and Praveen Kumar put India in a strong position for victory in the first Test against West Indies on Wednesday. Dravid made 112 - his 32nd test century - before he was th
Published 24 Jun, 2011 12:00am
Serena struggles, Ivanovic canters at Wimbledon

Serena struggles, Ivanovic canters at Wimbledon

Defending champion Serena Williams needed another three-setter to reach the Wimbledon third round on Thursday while former number one Ana Ivanovic barely broke sweat in her last 64 encounter. Four-time champion Williams came back from a set down to defeat
Published 24 Jun, 2011 12:00am
Djokovic, Soderling advance

Djokovic, Soderling advance

Novak Djokovic continued his red-hot form with a straight sets victory over South Africa's Kevin Anderson in the second round at Wimbledon on Thursday. The Serbian second seed did not take the match without a fight as Anderson showed plenty of determinati
Published 24 Jun, 2011 12:00am
Pakistan beat China in Dublin hockey tournament

Pakistan beat China in Dublin hockey tournament

Pakistan beat China 3-2 in 4-Nation Hockey Tournament at Dublin on Thursday. The green shirts survived some anxious moments before scoring a hard earned win as the first half ended at 2-2. From Pakistan Sohail Abbas, Abdul Haseem Khan, and Muhammad Zubair
Published 24 Jun, 2011 12:00am
Serena in sexism row after showcourt snub

Serena in sexism row after showcourt snub

Serena Williams accused Wimbledon officials of giving special treatment to male stars like Rafael Nadal and Novak Djokovic after she was shunted out to Court Two for her 3-6, 6-2, 6-1 win over Simona Halep on Thursday. Despite being the defending champion
Published 24 Jun, 2011 12:00am
EU tightens squeeze on Greece; banks discuss rollover

EU tightens squeeze on Greece; banks discuss rollover

Greece's new finance minister grappled with EU and IMF officials over gaps in his austerity plans on Thursday, with European leaders insisting on deep spending cuts and more tax hikes if Athens wants to secure funds and avoid potential default.
Published 24 Jun, 2011 12:00am
IEA releases oil reserves to prop up economy

IEA releases oil reserves to prop up economy

Industrialised oil consumer nations on Thursday announced the release of 60 million barrels of oil from strategic government stockpiles in a bid to push down crude prices and underpin the global economy. The 28-member International Energy Agency said it w
Published 24 Jun, 2011 12:00am
Australia clears hurdle for $38 billion fast broadband plan

Australia clears hurdle for $38 billion fast broadband plan

Australia cleared a key hurdle on Thursday in setting up a $38 billion high-speed broadband system after phone operator Telstra agreed to rent out its network for the nation's biggest infrastructure project in decades.
Published 24 Jun, 2011 12:00am
India's unions stage protests against inflation

India's unions stage protests against inflation

India's main workers' unions joined hands on Thursday to protest over rising inflation and fuel price hikes, staging demonstrations outside government offices across the country. Annual inflation spiralled to a higher-than-expected 9.06 percent in May fro
Published 24 Jun, 2011 12:00am
G20 leaves biofuels industry unscathed - for now

G20 leaves biofuels industry unscathed - for now

The biofuels industry emerged relatively unscathed from a meeting of G20 agriculture ministers on Thursday, which ignored advice to scrap biofuels subsidies on the basis they force up food prices. The warning against biofuels targets and subsidies in plac
Published 24 Jun, 2011 12:00am
US jobless claims data points to weak labour market

US jobless claims data points to weak labour market

The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labour market this month after employment stumbled badly in May. Initial claims for state unemployment benefits climbed 9,000 to 429,0
Published 24 Jun, 2011 12:00am
China's factory sector close to stalling

China's factory sector close to stalling

China's factory sector barely expanded in June even as price pressures eased, a purchasing managers' survey showed on Thursday, reflecting the impact of monetary policy tightening and slack global demand. The flash HSBC PMI, the earliest available indicat
Published 24 Jun, 2011 12:00am
Airbus wins record $18 billion order from AirAsia

Airbus wins record $18 billion order from AirAsia

Airbus has won a record-breaking order for 200 of its A320neo jets from AirAsia, capping a week where it has trounced rival Boeing in the fierce competition for plane contracts. The massive contract is a show of force from Europe's Airbus as it battles Bo
Published 24 Jun, 2011 12:00am
Biden debt talks hit impasse; Republicans walk out

Biden debt talks hit impasse; Republicans walk out

US budget talks hit an impasse on Thursday after a both Republicans walked out, throwing doubt on Washington's ability to reach a deal that would allow America to continue borrowing and avoid a debt default. Representative Eric Cantor, the No 2 Republican
Published 24 Jun, 2011 12:00am
Eurozone private sector growth slows sharply

Eurozone private sector growth slows sharply

The eurozone's private sector saw fairly tepid growth this month and without the support of Germany and France would have slipped back into contraction, business surveys showed on Thursday. Growth in the bloc's dominant service sector was much slower than
Published 24 Jun, 2011 12:00am
Money markets: overnight lending rates fall

Money markets: overnight lending rates fall

Euro overnight lending rates are poised to fall below the ECB's key refi rate in coming days after excess liquidity hit a five-month high on Thursday, but funds for over two weeks were still bid up on Greece's debt crisis. Factors related to the end of th
Published 24 Jun, 2011 12:00am
Ringgit, won decline

Ringgit, won decline

The Malaysian ringgit and the South Korean won led falls in their Asian peers on Thursday as investors reduced exposure to riskier currencies on growing signs of a global economic slowdown with weak China data and the US Federal Reserve's growth forecast
Published 24 Jun, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee weakened on Thursday after moving in a narrow band, dragged by a weak euro, but positive local shares and strong dollar inflows helped limit the downmove. The partially convertible rupee ended at 44.96/97 per dollar, 0.2 percent weaker th
Published 24 Jun, 2011 12:00am
Yuan down

Yuan down

The yuan ended down slightly against the dollar on Thursday after the People's Bank of China set a weaker mid-point, tracking a stronger dollar index. Spot yuan ended at 6.4676 versus the dollar on Thursday after climbing to a new intraday high, weaker th
Published 24 Jun, 2011 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc fell against the dollar on Thursday after the US Federal Reserve confirmed it would end its bond-buying programme at the end of the month, giving the greenback a fillip. The US central bank also kept official interest rates at historic low
Published 24 Jun, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 73.97/74.07 (previous 73.97/74.07). Call Money Rates: 12.00 percent (previous 9.00-12.00 percent).
Published 24 Jun, 2011 12:00am
Dollar spring back in New York

Dollar spring back in New York

The dollar rose against the euro for the first time in five days on Wednesday after the Federal Reserve gave no hint of providing further economic stimulus, though it held on to its position of keeping interest rates low for an extended period. Expectatio
Published 24 Jun, 2011 12:00am
Midday trade in New York: dollar rallies

Midday trade in New York: dollar rallies

The dollar bounced on Thursday as global growth concerns spurred a flight to safety following a bleak outlook from the US Federal Reserve and persistent uncertainty about Greece's debt crisis. The euro tumbled, hitting record lows against the Swiss franc,
Published 24 Jun, 2011 12:00am
Dollar climbs in London

Dollar climbs in London

The dollar climbed on Thursday and could extend gains as investors unwound bullish bets in higher-yielding currencies after the US Federal Reserve cut growth forecasts and gave no hints of more monetary easing. The Fed downgraded its growth outlook for th
Published 24 Jun, 2011 12:00am
Dollar extends gains in Asia

Dollar extends gains in Asia

The dollar extended its gains from the previous day on Thursday as sovereign Asian players bought it back after the Federal Reserve confirmed it was ceasing its $600 billion bond-buying programme at the end of June and gave no hint of further economic sti
Published 24 Jun, 2011 12:00am
Sterling slumps versus dollar

Sterling slumps versus dollar

Sterling slumped to its lowest versus the dollar in nearly three months on Thursday, sliding below the key $1.60 level on speculation the Bank of England may be more inclined towards additional quantitative easing than previously thought. The pound droppe
Published 24 Jun, 2011 12:00am
Australian falls, New Zealand dollar outperforms

Australian falls, New Zealand dollar outperforms

The Australian dollar lost ground against a broadly firmer greenback on Thursday, after a report showed China's factory growth nearly stalled in June, further evidence the nation's biggest trading partner is losing steam. It also underperformed the New Ze
Published 24 Jun, 2011 12:00am
FTSE hits three-month low

FTSE hits three-month low

Miners and energy stocks were the worst hit members of Britain's sharply lower FTSE 100 index on Thursday, hit by heightened fears of a slowdown in global growth. The FTSE 100 ended down 98.61 points, or 1.7 percent, at 5,674.38, its lowest close since Ma
Published 24 Jun, 2011 12:00am
LSE bid on knife edge as TMX battle heats up

LSE bid on knife edge as TMX battle heats up

The London Stock Exchange faces a nail-biting fight for Canadian peer TMX Group after aggressive rival bidder Maple trumped its sweetened offer by a whisker overnight. The British bourse, which had hoped to win over Canadian shareholders of TMX by boostin
Published 24 Jun, 2011 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares slipped on Thursday after recent substantial rebounds, and after the US Federal Reserve cut its forecasts for US economic growth this year and next without signalling further plans for stimulus. The Korea Composite Stock Price Index ended dow
Published 24 Jun, 2011 12:00am
European shares tumble

European shares tumble

European shares fell to a fresh three-month closing low on Thursday, as higher-than-expected weekly US jobless claims intensified doubts about the strength of the recovery in the world's biggest economy. Greece's debt crisis also hurt sentiment, though st
Published 24 Jun, 2011 12:00am
Hang Seng index down, Shanghai stocks surge

Hang Seng index down, Shanghai stocks surge

Chinese shares rose by the most in three months on Thursday, outperforming other stock markets in Asia, lifted by cement and other construction-related stocks as investors bought into them on anticipated demand. Cement stocks have outperformed this week,
Published 24 Jun, 2011 12:00am
Indian shares rise most in three weeks

Indian shares rise most in three weeks

Indian shares gained the most in three weeks on Thursday as investors looked for bargains in battered down stocks, with energy giant Reliance Industries leading the gains after a disappointing performance in the year so far. However, declining shares beat
Published 24 Jun, 2011 12:00am
Treasuries flat

Treasuries flat

US Treasury debt prices ended flat on Wednesday as the omission of any hint of new stimulus from the Federal Reserve offset worries over a Greek default, leaving little reason for traders to add or exit their bond holdings. Greek Prime Minister George Pap
Published 24 Jun, 2011 12:00am
Treasuries flat

Treasuries flat

US Treasury debt prices ended flat on Wednesday as the omission of any hint of new stimulus from the Federal Reserve offset worries over a Greek default, leaving little reason for traders to add or exit their bond holdings. Greek Prime Minister George Pap
Published 24 Jun, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.62 percent on Thursday, pulled down by Yageo Corp after regulators blocked a management buyout plan for the component maker backed by private equity fund Kohlberg Kravis Roberts & Co Market sentiment remained cautious and future direc
Published 24 Jun, 2011 12:00am
US stocks plunge

US stocks plunge

US stocks dropped on Wednesday after the Federal Reserve acknowledged the sluggish pace of the US economic recovery without hinting at further plans for stimulus. The Fed said the recovery was proceeding more slowly than it had expected. In his news confe
Published 24 Jun, 2011 12:00am
Thursday's midday trade: Wall Street tumbles

Thursday's midday trade: Wall Street tumbles

US stocks slid on Thursday as a sharp drop in oil triggered a sell-off in an already fragile market that was staggered by Federal Reserve Chairman Ben Bernanke's downbeat comments a day earlier. The Dow Jones industrial average dropped 171.34 points, or 1
Published 24 Jun, 2011 12:00am
Nikkei average dips

Nikkei average dips

The Nikkei average fell on Thursday after the Federal Reserve offered no hint of further easing monetary policy, though gains in car manufacturers and steelmakers on the back of hopes for production recovery offset the falls. Nissan Motor rose 1.3 percent
Published 24 Jun, 2011 12:00am
Most Southeast Asian markets ease

Most Southeast Asian markets ease

Most Southeast Asian stock markets eased on Thursday, with investors worried about the global economic outlook after the US Federal Reserve cut its growth forecast, while resource shares fell amid concern about flagging world demand. Volume was light, how
Published 24 Jun, 2011 12:00am
Middle East markets: Gulf markets down on low buying interest

Middle East markets: Gulf markets down on low buying interest

Lack of buying interest weighed on Gulf markets on Thursday, while investors in Egypt digested news of a planned narrower-than-expected budget deficit and its possible impact on the country's economy. Abu Dhabi's Aldar Properties dragged down the emirate'
Published 24 Jun, 2011 12:00am
Saab says can't pay its wages

Saab says can't pay its wages

Loss-making Swedish carmaker Saab said on Thursday it couldn't pay its employees wages as it had not obtained the short-term funding it needs. The IF Metall and Unionen groups at Saab, which has made losses for the last two decades, said they would send a
Published 24 Jun, 2011 12:00am
Price, quality uncertainties continue on cotton market

Price, quality uncertainties continue on cotton market

With domestic new crop (2011-2012) mostly still a couple of months away and shortages of cotton of good quality remaining, lint price levels are likely to remain uncertain. With domestic as well as global yarn offtakes reportedly slack and dull conditions
Published 24 Jun, 2011 12:00am
Price, quality uncertainties continue on cotton market

Price, quality uncertainties continue on cotton market

With domestic new crop (2011-2012) mostly still a couple of months away and shortages of cotton of good quality remaining, lint price levels are likely to remain uncertain. With domestic as well as global yarn offtakes reportedly slack and dull conditions
Published 24 Jun, 2011 12:00am
Prices firm in narrow range amid thin business on cotton market

Prices firm in narrow range amid thin business on cotton market

Subdued business was seen on the cotton market on Thursday as mills preferred to be sidelined to observe the latest position, dealers said. The Karachi Cotton Association (KCA) official spot rate was left unchanged at Rs 8,500, they said. Prices of new Ph
Published 24 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Thursday as the July vaida showed rise in process of trading, dealers said. The July contract that had closed at 1424.40 opened with 40 paisa gain at Rs 1424.80. The December vaida which en
Published 24 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 123,435 tonnes of cargo including 66,614 tonnes of import cargo, 56,821 tonnes of export cargo and 4,291 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 66,614 tonnes compr
Published 24 Jun, 2011 12:00am
Activity slow, few changes seen on grain market

Activity slow, few changes seen on grain market

A few changes were seen on the wholesale grain market on Thursday as buyers did not take interest in the fresh deals, dealers said. On the grams sector, guwar from Sindh, gained Rs 250 to Rs 5250-5350, other items retained the overnight levels, they said.
Published 24 Jun, 2011 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Hard red winter wheat basis bids were steady on Thursday, with high protein new crop supplies continuing to overwhelm the market. The high level of protein seen in the new winter wheat crop is prompting demand to tick up for mid-level and lower protein le
Published 24 Jun, 2011 12:00am
US wheat futures fall

US wheat futures fall

US wheat futures fell on Wednesday as improving crop weather in Europe boosted prospects for a better-than-expected harvest there, traders said. Benchmark Chicago Board of Trade July contract fell 5.3 percent, its biggest daily decline since a 5.4 percent
Published 24 Jun, 2011 12:00am
Wheat export premiums higher at US Gulf Coast

Wheat export premiums higher at US Gulf Coast

Wheat export premiums at the US Gulf Coast were higher on Wednesday following a steep plunge in futures prices and as Egypt issued its second tender this month to buy grain on the world market, traders said. Benchmark US soft red winter wheat futures fell
Published 24 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 24 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 24 Jun, 2011 12:00am
G20 reach 'historic' accord on food commodity speculation

G20 reach 'historic' accord on food commodity speculation

Farm ministers from the world's top economies agreed on action on Thursday to tame market speculation blamed for the food price spikes that have hit consumers' pockets and sparked unrest. "Today is a great day. We have reached an historic accord," France'
Published 24 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 24 Jun, 2011 12:00am
G20 reach 'historic' accord on food commodity speculation

G20 reach 'historic' accord on food commodity speculation

Farm ministers from the world's top economies agreed on action on Thursday to tame market speculation blamed for the food price spikes that have hit consumers' pockets and sparked unrest. "Today is a great day. We have reached an historic accord," France'
Published 24 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 24 Jun, 2011 12:00am
G20 reach ''historic'' accord on food commodity speculation

G20 reach ''historic'' accord on food commodity speculation

Farm ministers from the world''s top economies agreed on action on Thursday to tame market speculation blamed for the food price spikes that have hit consumers'' pockets and sparked unrest. "Today is a great day. We have reached an historic accord," Franc
Published 24 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 Thursday (June 23, 2011).

Published 24 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 Thursday (June 23, 2011).

Published 24 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 Thursday (June 23, 2011).

Published 24 Jun, 2011 12:00am
US insists Pakistan keep anti-terror pledges

US insists Pakistan keep anti-terror pledges

President Barack Obama on Wednesday vowed the United States will "insist" Pakistan fulfil its promises to counter militant sanctuaries on its soil. "We will work with the Pakistani government to root out the cancer of violent extremism, and we will insist
Published 24 Jun, 2011 12:00am
US insists Pakistan keep anti-terror pledges

US insists Pakistan keep anti-terror pledges

President Barack Obama on Wednesday vowed the United States will "insist" Pakistan fulfil its promises to counter militant sanctuaries on its soil. "We will work with the Pakistani government to root out the cancer of violent extremism, and we will insist
Published 24 Jun, 2011 12:00am
Afghan war success possible without Pakistan help: Gates

Afghan war success possible without Pakistan help: Gates

Success is possible in the war in Afghanistan even if Pakistan fails to fully cooperate in countering militants along its border, Defence Secretary Robert Gates told AFP Thursday. With Pakistan taking some positive steps, Gates said: "I think that as long
Published 24 Jun, 2011 12:00am
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