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Archive - 2011-06-30
OGRA slashes petroleum prices
Top News

OGRA slashes petroleum prices

ISLAMABAD : The Oil and Gas Regulatory Authority (OGRA) on the directives of the Prime Minister Yusuf Raza Gilani on
Published 30 Jun, 2011 07:56pm
US Senate confirms Petraeus as CIA chief
Top News

US Senate confirms Petraeus as CIA chief

WASHINGTON : The US Senate on Thursday overwhelmingly confirmed General David Petraeus, who won wide acclaim as command
Published 30 Jun, 2011 06:59pm
Sterling near 15-month low
Financial

Sterling near 15-month low

LONDON : Sterling slid to a 15-month low against a trade-weighted basket of currencies and the euro on Thursday on mon
Published 30 Jun, 2011 06:38pm
India approves Vedanta deal
Asia

India approves Vedanta deal

MUMBAI: India's cabinet has granted conditional approval to Vedanta Resources to buy British oil explorer Cairn Energy's
Published 30 Jun, 2011 03:53pm
Gold up at Rs 42,042
Markets

Gold up at Rs 42,042

KARACHI: Gold further improved by Rs 42 to Rs 42,042 per 10 grams in local bullion market Thursday, as its international
Published 30 Jun, 2011 03:03pm
$8.5bn settlement faces legal fight
Top News

$8.5bn settlement faces legal fight

WILMINGTON : Bank of America Corp's $8.5 billion settlement to clear up its mortgage bond mess isn't a done deal and cou
Published 30 Jun, 2011 03:03pm
Ivorian cocoa prices mixed
Commodities

Ivorian cocoa prices mixed

ABIDJAN : Cocoa farm-gate prices in Ivory Coast were mixed last week, falling in some growing regions because of wor
Published 30 Jun, 2011 02:11pm
CEE FX shed morning gains
Financial

CEE FX shed morning gains

PRAGUE : Central European currencies shed some of their early morning gains on Thursday and dealers said optimism tied t
Published 30 Jun, 2011 01:27pm
USG People to cut 115 jobs
Europe

USG People to cut 115 jobs

AMSTERDAM : Dutch staffing firm USG People will cut or outsource 115 jobs, a union official said on Thursday, citing num
Published 30 Jun, 2011 01:08pm
SBP amends EF-1, EE-1 statements
Top News

SBP amends EF-1, EE-1 statements

KARACHI: The State Bank of Pakistan (SBP) has said that in order to strengthen the monitoring mechanism of finance provi
Published 30 Jun, 2011 11:12am
Tokyo shares open higher
Financial

Tokyo shares open higher

TOKYO : Tokyo shares opened 0.42 percent higher on Thursday after the Greek parliament's approval of a crucial austerity
Published 30 Jun, 2011 05:49am
Cotton: the vagaries of weather
BR Research

Cotton: the vagaries of weather

Those living in hot and humid regions must be experiencing a rough time since the day cotton left the comfort of its long-term stable price
Published 30 Jun, 2011 12:00am
Images of Hugo Chavez shown to quell health rumours

Images of Hugo Chavez shown to quell health rumours

Supporters of Venezuela's President Hugo Chavez hailed the release of new footage of the socialist leader as proof he was recovering well from surgery in Cuba despite speculation he may have cancer. As rumours about Chavez's disappearance from public view
Published 30 Jun, 2011 12:00am
Syria tank assault kills four near Turkey border

Syria tank assault kills four near Turkey border

Syrian troops shot dead four villagers on Wednesday, an activist said, as authorities pressed on with a tank-led assault that has already driven thousands of refugees across the north-west border with Turkey. "The four died in random firing on the village
Published 30 Jun, 2011 12:00am
US cost of war at least $3.7 trillion, may reach $4.4 trillion

US cost of war at least $3.7 trillion, may reach $4.4 trillion

When President Barack Obama cited cost as a reason to bring troops home from Afghanistan, he referred to a $1 trillion price tag for America's wars. Staggering as it is, that figure grossly underestimates the total cost of wars in Iraq, Afghanistan and Pa
Published 30 Jun, 2011 12:00am
Two French journalist hostages in Afghanistan freed: Sarkozy

Two French journalist hostages in Afghanistan freed: Sarkozy

Two French journalists kidnapped by the Taliban in Afghanistan in December 2009 have been released, the French presidency said on Wednesday. "The president is delighted at the liberation of our two compatriots, Stephane Taponier and Herve Ghesquiere, as w
Published 30 Jun, 2011 12:00am
21 dead as Taliban storm Kabul hotel

21 dead as Taliban storm Kabul hotel

Heavily armed Taliban militants stormed a top Kabul hotel, sparking a ferocious battle involving Afghan commandos and a Nato helicopter gunship that left at least 21 dead including the nine attackers. Officials said all of the gunmen were killed during th
Published 30 Jun, 2011 12:00am
Kabul 'much safer than it was,' Obama insists

Kabul 'much safer than it was,' Obama insists

US President Barack Obama insisted Wednesday that Kabul is "much safer than it was" but said he expected attacks like the one on the Intercontinental Hotel to continue for "some time." In his first public comments on the Intercontinental attack, Obama ins
Published 30 Jun, 2011 12:00am
India's Prime Minister fails to dispel policy paralysis fears

India's Prime Minister fails to dispel policy paralysis fears

India's cornered Prime Minister Manmohan Singh brushed aside on Wednesday widespread criticism that he was a "lame duck" leader presiding over a government mired in graft and policy paralysis, but offered little in way of policy steps he would take up.
Published 30 Jun, 2011 12:00am
BofA $8.5 billion settlement likely to face legal fight

BofA $8.5 billion settlement likely to face legal fight

Bank of America Corp's $8.5 billion settlement to clear up its mortgage bond mess isn't a done deal and could be challenged - if the large number of investors locked out of negotiations could organise. The deal was struck with trustees for $424 billion of
Published 30 Jun, 2011 12:00am
IMF says hike US debt limit to avert global shock

IMF says hike US debt limit to avert global shock

Failure by US lawmakers to agree soon on a deal to raise the government's borrowing limit could deliver a "severe shock" to a still fragile recovery and global markets, the International Monetary Fund warned on Wednesday. In an annual review of US economi
Published 30 Jun, 2011 12:00am
Australia, China trade breaks $100 billion mark

Australia, China trade breaks $100 billion mark

Australia's two-way trade with China topped Aus$100 billion ($US105.64 billion) for the first time last year, data showed Wednesday, with surging coal and iron ore exports boosting national coffers. Total trade with China, Australia's top partner, grew 23
Published 30 Jun, 2011 12:00am
Saab secures third short-term funding lifeline

Saab secures third short-term funding lifeline

Swedish Automobile said on Wednesday it had signed a loan deal that would secure additional short-term funding for its cash-strapped carmaker Saab, sending its shares soaring. The carmaker has been scrambling for cash since April when unpaid suppliers sto
Published 30 Jun, 2011 12:00am
Japan's factory output jumps by most in nearly 60 years

Japan's factory output jumps by most in nearly 60 years

Japanese factory output jumped by the most in almost 60 years in May as manufacturers restore supply chains damaged by the massive earthquake and tsunami in March, the latest evidence the economy is headed for a 'V-shaped' recovery from the disaster. Manu
Published 30 Jun, 2011 12:00am
Al-Bashir's China visit yields oil, infrastructure deals

Al-Bashir's China visit yields oil, infrastructure deals

China and Sudan signed oil and infrastructure agreements Wednesday after President Hu Jintao met with his Sudanese counterpart, Omar al-Bashir. Hu said al-Bashir's visit to Beijing would "solidify and develop the traditional China-Sudan friendship and pro
Published 30 Jun, 2011 12:00am
Iraq government approves gas pipe deal with Iran

Iraq government approves gas pipe deal with Iran

Iraq's cabinet has approved a $365 million contract with Iran's oil ministry to build a pipeline to move gas from Iran to Iraq for power generation, it said on Wednesday. The pipeline will pass through Iraq's Mansuriyah gas field near the Iranian border i
Published 30 Jun, 2011 12:00am
Fed extends crisis aid for ECB, BoE

Fed extends crisis aid for ECB, BoE

The US Federal Reserve said Wednesday it was extending its emergency liquidity facility for its leading Western counterparts as Europe's sovereign debt crisis continues to fester. The US central bank said its existing temporary US dollar liquidity swap ar
Published 30 Jun, 2011 12:00am
Russia severs power supplies to Belarus

Russia severs power supplies to Belarus

Russia on Wednesday cut power supplies to cash-strapped Belarus after it failed to make a debt payment amid a severe economic crisis in the latest energy spat between the two uneasy neighbours. Belarus pledged to pay the bill but indicated it had enough e
Published 30 Jun, 2011 12:00am
Geithner warns cannot stave off default

Geithner warns cannot stave off default

Treasury Secretary Timothy Geithner warned on Wednesday that the United States will not be able to stave off default by prioritising debt payments if Congress does not raise the debt limit by August 2. With budget talks at a standstill, the International
Published 30 Jun, 2011 12:00am
Obama calls for stimulus in debt talks

Obama calls for stimulus in debt talks

US President Barack Obama called on Wednesday for new job-creation measures that are likely to further complicate talks with Republicans to bring the country's debt under control. Obama said Congress should approve loans to encourage construction spending
Published 30 Jun, 2011 12:00am
US pending home sales rise

US pending home sales rise

Pending sales of existing US homes rebounded from a seven-month low in May but demand for mortgages sank last week and the market is still struggling under the weight of a glut of unsold properties. The National Association of Realtors said on Wednesday i
Published 30 Jun, 2011 12:00am
Canadian inflation hits eight-year high

Canadian inflation hits eight-year high

Canadian inflation rose to its highest level in more than eight years in May, boosting the Canadian dollar and raising the prospect the central bank will raise interest rates sooner than previously expected. Annual inflation hit 3.7 percent, well above ex
Published 30 Jun, 2011 12:00am
Russia's two exchanges merge to challenge Hong Kong

Russia's two exchanges merge to challenge Hong Kong

Russia's two main stock exchanges on Wednesday signed the terms of a full merger aimed at helping turn Moscow into a global financial centre that becomes the focal point of emerging market activity. The Moscow Interbank Currency Exchange (MICEX) said it w
Published 30 Jun, 2011 12:00am
Djokovic subdues Tomic to reach semis

Djokovic subdues Tomic to reach semis

Novak Djokovic dug deep to reach the semi-finals at Wimbledon with a gritty 6-2, 3-6, 6-3, 7-5 victory over Australian qualifier Bernard Tomic on Wednesday. Djokovic was well below his best for long periods in a tense quarter-final clash on Court One, but
Published 30 Jun, 2011 12:00am
Burundian makes history at Wimbledon

Burundian makes history at Wimbledon

A 16-year-old boy from Burundi has been making history at Wimbledon, becoming the first player from the east African country to participate in the world-famous tennis championships. Hassan Ndayishimiye was in tears on court after making his Wimbledon debu
Published 30 Jun, 2011 12:00am
Indian criticism forces Daryl Harper to retire early

Indian criticism forces Daryl Harper to retire early

Australian umpire Daryl Harper announced on Wednesday he was retiring with immediate effect as an international umpire despite being due to bring down the curtain on his career in the third and final Test of the current West Indies v India series. The 59-
Published 30 Jun, 2011 12:00am
England add Pakistan series to 2011-12 schedule

England add Pakistan series to 2011-12 schedule

England could be in international action every month of next year after adding matches against Pakistan to their 2011-12 tour programme. England and Pakistan are due to play three Tests, four one-day internationals and three Twenty20s in Abu Dhabi and Dub
Published 30 Jun, 2011 12:00am
PCB, ECB agree to hold series in Dubai, Abu Dhabi

PCB, ECB agree to hold series in Dubai, Abu Dhabi

Pakistan's home series against England in January and February next year will be having three Tests, four ODI's and three T20 matches to be played at the United Arab Emirates and Dubai. "The Pakistan Cricket Board (PCB) and the English Cricket Board (ECB)
Published 30 Jun, 2011 12:00am
Pakistan cricket selector escapes with warning

Pakistan cricket selector escapes with warning

Pakistan cricket selector Mohammad Ilyas has escaped with a warning for making an unsanctioned public response to retired captain Shahid Afridi's allegations of nepotism. The Pakistan Cricket Board suspended Ilyas earlier this month after the former Test
Published 30 Jun, 2011 12:00am
Norway edge valiant debutantes Equatorial Guinea

Norway edge valiant debutantes Equatorial Guinea

The 1995 champions Norway survived a battle with debutantes Equatorial Guinea in Group D action at the Women's World Cup here on Wednesday, winning 1-0 thanks to Emelie Haavi's late goal. The back-and-forth encounter saw Norway hit the woodwork on three o
Published 30 Jun, 2011 12:00am
Tsonga bludgeons Federer to historic defeat

Tsonga bludgeons Federer to historic defeat

France's Jo-Wilfried Tsonga bludgeoned Roger Federer to an historic defeat to reach the Wimbledon semi-finals Wednesday, as the Swiss star suffered his first ever Grand Slam loss after being two sets up. The sensational 3-6, 6-7 (3/7), 6-4, 6-4, 6-4 resul
Published 30 Jun, 2011 12:00am
ICC defers president rotation policy decision

ICC defers president rotation policy decision

The International Cricket Council (ICC) has deferred until October a proposal to abolish the rotational policy on appointing the governing body's president. "The board ... decided to defer the proposed constitutional amendment to the nominations process f
Published 30 Jun, 2011 12:00am
WC first round qualifier: Bangladesh post easy win over Pakistan

WC first round qualifier: Bangladesh post easy win over Pakistan

Bangladesh built a comfortable advantage in their 2014 FIFA World Cup first round football qualifier after easing to a 3-0 win over Pakistan on Wednesday. Zahid Hasan Emily gave Bangladesh the perfect start by opening the scoring just 60 seconds after the
Published 30 Jun, 2011 12:00am
Anderson sparkles, as Jayasuriya bows out tamely

Anderson sparkles, as Jayasuriya bows out tamely

James Anderson inspired England to a 110-run win over Sri Lanka in the first one-day international here at The Oval on Tuesday. The Lancastrian took 4-18 as Sri Lanka slumped to 121 all out chasing a revised target of 232 in a rain-shortened match. Englan
Published 30 Jun, 2011 12:00am
Former South Korean player admits match-fixing

Former South Korean player admits match-fixing

Another South Korean footballer has admitted involvement in match-fixing, an official said Wednesday, joining other players ensnared in a scandal that has rattled the professional K-League. Choi Sung-Kuk, a former national team forward, admitted his invol
Published 30 Jun, 2011 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian and New Zealand dollars drifted higher against the greenback on Wednesday, but struggled to gain much momentum as investors retreated to the sidelines ahead of the outcome of a Greek parliament vote on austerity measures. The first Greek vo
Published 30 Jun, 2011 12:00am
Won, baht outperform for the day

Won, baht outperform for the day

Most emerging Asian currencies strengthened in the second quarter, but at a slower pace than earlier on worries about the eurozone's debt crisis and the global economy that could make investors take a defensive stance on the regional units in the next thr
Published 30 Jun, 2011 12:00am
Indian rupee at one-week high

Indian rupee at one-week high

The Indian rupee rose to a one-week high on Wednesday as local shares and the euro surged, reflecting a strong global risk appetite, as Greece's austerity measures to avert eurozone's first sovereign default looked set to win a parliament vote. The partia
Published 30 Jun, 2011 12:00am
Swiss franc dips

Swiss franc dips

The Swiss franc on Wednesday pulled further away from a recent record high against the euro as investors await the outcome of Greece's vote on an austerity package. At 0735 GMT, the franc was trading 0.2 percent lower compared to the New York close at 1.1
Published 30 Jun, 2011 12:00am
Yuan ends up versus dollar

Yuan ends up versus dollar

The yuan closed up against the dollar on Wednesday after the People's Bank of China set a stronger mid-point amid pressure from the United States for further appreciation in the Chinese currency. Spot yuan traded between 6.4622 and 6.4700 versus the dolla
Published 30 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 Wednesday. 74.10/74.19 (previous 74.10/74.14). Call Money Rates: 6.00-9.00 percent (previous 6.00-10.00 percent).
Published 30 Jun, 2011 12:00am
Euro rises in New York

Euro rises in New York

The euro rose on Tuesday as investors bet Greece would pass an austerity package needed to avert a debt default, though traders said uncertainty about a long-term solution would limit further gains in the currency. Tough talk on inflation from European Ce
Published 30 Jun, 2011 12:00am
Early trade in New York: Euro rises after Greece vote

Early trade in New York: Euro rises after Greece vote

The euro rose against the dollar on Wednesday after Greece's parliament approved austerity measures needed to avoid a default, but concern over whether the government can implement them could limit gains. Expectations of a positive outcome had buoyed the
Published 30 Jun, 2011 12:00am
Euro up in London

Euro up in London

The euro rose to a two-week high against the dollar on Wednesday on expectations the Greek parliament will pass austerity measures needed for a further bailout although the stop-gap nature of the plan was seen limiting gains. Hopes the vote would go throu
Published 30 Jun, 2011 12:00am
Euro struggles in Asia

Euro struggles in Asia

The euro struggled to extend gains in Asia on Wednesday as investors hesitated to buy it further on the Greek parliament's expected acceptance of an austerity package, while the market was wary about the long-term outlook for the eurozone's debt problems.
Published 30 Jun, 2011 12:00am
Sterling pairs broad gains

Sterling pairs broad gains

Sterling clawed back from an eight-week low against the euro on Wednesday, as the single currency pared broad gains after the Greek parliament passed a set of strict austerity measures as widely expected. The pound retreated from a session high versus the
Published 30 Jun, 2011 12:00am
Money markets: strains ease after Greek vote, hurdles remain

Money markets: strains ease after Greek vote, hurdles remain

Money market stress eased slightly on Wednesday after Greek lawmakers endorsed unpopular austerity plans but analysts still expect European banks to struggle to secure funding in US markets with the region's debt crisis far from resolved.
Published 30 Jun, 2011 12:00am
UK's top share index climbs

UK's top share index climbs

Britain's top share index gained sharply on Wednesday as Greece lawmakers backed an austerity plan to pave the way for bailout aid, with financials and commodity stocks leading the gainers. The plan for Greece, demanded by the European Union and the Inter
Published 30 Jun, 2011 12:00am
TMX shares rise after deal with LSE called off

TMX shares rise after deal with LSE called off

TMX Group shares turned higher on Wednesday after the London and Toronto stock exchanges cancelled plans to combine forces when it became clear they did not have enough shareholder support. Shares of TMX, operator of the Toronto Stock Exchange, climbed as
Published 30 Jun, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose on Wednesday, lifted by gains in refiners and automakers, but CJ Group-related shares tumbled after it was picked as the preferred buyer for Korea Express. The Korea Composite Stock Price Index ended up 1.53 percent at 2,094.42 points, h
Published 30 Jun, 2011 12:00am
European shares higher

European shares higher

European shares hit their highest close in two weeks on Wednesday after Greek lawmakers approved austerity measures that are critical to the debt-laden country securing the next tranche of bailout funds. The heavyweight banking sector, which has been hit
Published 30 Jun, 2011 12:00am
Nikkei hits seven-week high

Nikkei hits seven-week high

The Nikkei average closed at a seven-week high on Wednesday, close to the top of its trading range since the March earthquake, helped by easing worries over Greece's debt problems, although uncertainty about a long-term solution kept trade thin.
Published 30 Jun, 2011 12:00am
Indian shares at two-month high

Indian shares at two-month high

Indian shares rose for a fifth straight session on Wednesday, to its highest close in nearly two months, riding on world markets which gained on expectations that Greece will ward off bankruptcy and avert the eurozone's first sovereign default. But dealer
Published 30 Jun, 2011 12:00am
Taiwan stocks jump

Taiwan stocks jump

Taiwan stocks jumped 1.11 percent on Wednesday, lifted by banks, plastics and oil counters, as investors across the region turned to riskier assets on optimism that Greece's parliament will approve an austerity programme. The TAIEX index ended up 94.52 po
Published 30 Jun, 2011 12:00am
Treasuries sink

Treasuries sink

US Treasury prices fell on Tuesday as expectations Greece will approve an austerity plan to win financial aid and avoid a debt default dampened the bid for safe-haven US government debt. Investors' lack of appetite for Treasuries was evident in the weakes
Published 30 Jun, 2011 12:00am
Treasuries sink

Treasuries sink

US Treasury prices fell on Tuesday as expectations Greece will approve an austerity plan to win financial aid and avoid a debt default dampened the bid for safe-haven US government debt. Investors' lack of appetite for Treasuries was evident in the weakes
Published 30 Jun, 2011 12:00am
EU examines NYSE, Deutsche Boerse merger

EU examines NYSE, Deutsche Boerse merger

European antitrust authorities launched Wednesday their examination of a merger between NYSE Euronext and Deutsche Boerse, a deal that would create the world's biggest stock exchange. The office of European competition commissioner Joaquin Almunia confirm
Published 30 Jun, 2011 12:00am
US stocks stay up

US stocks stay up

US stocks rose for a second day on Tuesday on optimism that a solution to Greece's debt crisis was near, although low volume indicated underlying nervousness in the market. Buyers snapped up shares after the S&P 500's 7 percent swoon since April, mostly i
Published 30 Jun, 2011 12:00am
Wednesday's early afternoon trade: Greek hopes push stocks higher

Wednesday's early afternoon trade: Greek hopes push stocks higher

US stocks advanced on Wednesday after the Greek parliament approved austerity measures, taking an important step in the country's bid to gain access to international funding to avoid default. Optimism over the plan's approval in Greece has pushed the benc
Published 30 Jun, 2011 12:00am
Chinese shares fall, Hong Kong flat

Chinese shares fall, Hong Kong flat

Chinese shares fell on Wednesday, snapping a six-day winning streak and erasing gains in Hong Kong, with investors selling Chinese bank stocks after rumours about an interest rate hike in early July compounded simmering fears about soured loans.
Published 30 Jun, 2011 12:00am
Southeast Asian markets jump

Southeast Asian markets jump

Southeast Asian stock markets climbed on Wednesday as investors piled into financial stocks towards the end of the quarter and sentiment was buoyed by optimism that a Greek austerity plan would go ahead and a sovereign debt default would be averted. Late
Published 30 Jun, 2011 12:00am
Middle East markets: Egypt shares fall after clashes

Middle East markets: Egypt shares fall after clashes

Egypt's bourse made its biggest one-day drop since June 2 on Wednesday, after overnight clashes in Cairo between police and youths, while Saudi shares rose on hopes of healthy earnings. The clashes left 590 people injured. It was the first such violence i
Published 30 Jun, 2011 12:00am
Japan ruling party to push government to water down tax hike

Japan ruling party to push government to water down tax hike

Lawmakers in Japan's ruling Democratic Party agreed on Wednesday to push the government to water down a planned sales tax due to worries about the economy, even as inaction raises the risk of a sovereign rating downgrade. The agreement effectively undermi
Published 30 Jun, 2011 12:00am
Lean business seen on grain market

Lean business seen on grain market

Slow trading activity was seen on wholesale grain market on Wednesday in process of trading, dealers said. On the rice sector Irri-6 Sindh low type rose by Rs 25 to Rs 3700 while the good type did not move after retaining the overnight level at Rs 3750, o
Published 30 Jun, 2011 12:00am
Chemical items mixed on Jodia Bazaar

Chemical items mixed on Jodia Bazaar

The trading in chemical items moved both ways on Jodia Bazaar here on Wednesday. The following changes were noted.
Published 30 Jun, 2011 12:00am
Early monsoon rains in cotton growing areas to benefit standing crop

Early monsoon rains in cotton growing areas to benefit standing crop

Most of the cotton growing areas in the Punjab received early monsoon rains, which are beneficial for standing cotton crop, Naseem Usman said after a comprehensive survey of cotton belt. The Karachi Cotton Association (KCA) official spot rate was left unc
Published 30 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

Rising trend was witnessed on the forward cottonseed oilcake market on Wednesday while the December vaida was unchanged in process of trading, dealers said. The July contract that had closed at 1425.70 and it opened with 20 paisa gain at Rs 1425.90. The D
Published 30 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 62,344 tonnes of cargo including 38,004 tonnes of import cargo, 24,340 tonnes of export cargo and 2,059 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 38,004 tonnes compr
Published 30 Jun, 2011 12:00am
Indonesia, Bangladesh markets lift Vietnamese rice prices

Indonesia, Bangladesh markets lift Vietnamese rice prices

Indonesia has been in talks to import between 400,000 and 600,000 tonnes of rice from Vietnam to capitalise on lower prices, with shipment possible in the third quarter of this year, traders and a state-run newspaper said on Wednesday. The official Vietna
Published 30 Jun, 2011 12:00am
Wheat export premiums flat at US Gulf Coast

Wheat export premiums flat at US Gulf Coast

Wheat export premiums at the US Gulf Coast were flat on Tuesday amid limited export demand ahead of a key US crop report on Thursday, traders said. Pending official restart of Russian grain exports in July also keeping a lid on demand for US wheat. Russia
Published 30 Jun, 2011 12:00am
India's food ministry gives nod to possible grain exports

India's food ministry gives nod to possible grain exports

India's food minister gave a nod to possible exports of grains because of bumper crops and overflowing storage on Wednesday, after government sources told Reuters there could be one million tonnes of both wheat and rice offered. India is one of the world'
Published 30 Jun, 2011 12:00am
Biofuels may cut Brazil's soyaoil exports: Oil World

Biofuels may cut Brazil's soyaoil exports: Oil World

Rising biodiesel production may cut Brazil's 2011 soyaoil exports and Argentina's soyaoil shipments will also be lower than potential, Hamburg-based oilseeds analysts Oil World said on Tuesday. Brazil, the world's No 2 soyaoil exporter, may sell only 1.50
Published 30 Jun, 2011 12:00am
China's shipping exchange launches first forward freight

China's shipping exchange launches first forward freight

The Shanghai Shipping Freight Exchange Co (SSEFC) has launched China's first forward freight container contract, allowing local exporters and shipping companies to manage growing volatility in freight rates. The forward contracts are based on shipping rat
Published 30 Jun, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids were steady on Wednesday in quiet dealings ahead of the USDA acreage and stocks report on Thursday. Traders said the winter wheat harvest was advancing in the southern Plains under clear weather, with some of the freshly-h
Published 30 Jun, 2011 12:00am
Pakistan agriculture

Pakistan agriculture

Pakistan is an agricultural country and the agriculture gains are more important than any other sector. The agriculture sector not only feeds people, but also provides raw material for industry and is a base for foreign trade. Despite its declining share
Published 30 Jun, 2011 12:00am
SSUET - on the glorious road

SSUET - on the glorious road

An interview with Engineer Z. A. Nizami Chancellor Sir Syed University of Engineering & Technology
Published 30 Jun, 2011 12:00am
Man with a great vision

Man with a great vision

"Higher education plays a significant role in the development of society because it improves and promotes the economic, social, political and cultural life of the nation. In Pakistan, unfortunately developmental indicators are not showing favourable resul
Published 30 Jun, 2011 12:00am
Virtual University of Pakistan: Pioneer in innovative education

Virtual University of Pakistan: Pioneer in innovative education

The University: From the very beginning to its current standing as one of the leading universities of the country, Virtual University (VU) has always been a pioneer in introducing cutting-edge teaching methodology, utilising services of the best faculty a
Published 30 Jun, 2011 12:00am
SKANS: Where professional excellence is a NORM not a GOAL

SKANS: Where professional excellence is a NORM not a GOAL

SKANS School of Accountancy is one of the most prestigious Accountancy institutes of Pakistan. SKANS is well reputed for setting a standard of excellence in the field of Professional Accountancy and Finance Qualifications. The institute has produced brigh
Published 30 Jun, 2011 12:00am
SSUET - brief introduction

SSUET - brief introduction

The Sponsors of the University, the Old Boys of Aligarh through the Aligarh Muslim University Old Boys' Association, desiring to continue the mission of Sir Syed Ahmed Khan founded Sir Syed University of Engineering & Technology. It is devoted to discover
Published 30 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 30 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 30 Jun, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Government decides to substantially raise gas rates

Government decides to substantially raise gas rates

The government has decided to jack up gas tariff for domestic consumers by 10-15 percent, for industry 15-20 percent, and for fertiliser sector 100 percent, in the coming fiscal year. This was stated by Federal Minister for Petroleum and Natural Resources
Published 30 Jun, 2011 12:00am
Government decides to substantially raise gas rates

Government decides to substantially raise gas rates

The government has decided to jack up gas tariff for domestic consumers by 10-15 percent, for industry 15-20 percent, and for fertiliser sector 100 percent, in the coming fiscal year. This was stated by Federal Minister for Petroleum and Natural Resources
Published 30 Jun, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Government decides to substantially raise gas rates

Government decides to substantially raise gas rates

The government has decided to jack up gas tariff for domestic consumers by 10-15 percent, for industry 15-20 percent, and for fertiliser sector 100 percent, in the coming fiscal year. This was stated by Federal Minister for Petroleum and Natural Resources
Published 30 Jun, 2011 12:00am
Renewal of 4 IPPs gas agreements: ECC special meeting today

Renewal of 4 IPPs gas agreements: ECC special meeting today

The Economic Co-ordination Committee (ECC) of the Cabinet is holding a special meeting on Thursday (today) to renew Gas Supply Agreements (GSAs), with four independent power producers (IPPs). The agreements are expiring on June 30, 2011.
Published 30 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (June 29, 2011).
Published 30 Jun, 2011 12:00am
Renewal of 4 IPPs gas agreements: ECC special meeting today

Renewal of 4 IPPs gas agreements: ECC special meeting today

The Economic Co-ordination Committee (ECC) of the Cabinet is holding a special meeting on Thursday (today) to renew Gas Supply Agreements (GSAs), with four independent power producers (IPPs). The agreements are expiring on June 30, 2011.
Published 30 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Renewal of 4 IPPs gas agreements: ECC special meeting today

Renewal of 4 IPPs gas agreements: ECC special meeting today

The Economic Co-ordination Committee (ECC) of the Cabinet is holding a special meeting on Thursday (today) to renew Gas Supply Agreements (GSAs), with four independent power producers (IPPs). The agreements are expiring on June 30, 2011.
Published 30 Jun, 2011 12:00am
Private contractors to run Gencos: PPIB

Private contractors to run Gencos: PPIB

The government has decided to induct private sector operation and maintenance contractors to make the public sector power Generation Companies (Gencos ) run more efficiently. This was decided at a meeting of PPIB Board on Wednesday. It was presided over b
Published 30 Jun, 2011 12:00am
Private contractors to run Gencos: PPIB

Private contractors to run Gencos: PPIB

The government has decided to induct private sector operation and maintenance contractors to make the public sector power Generation Companies (Gencos ) run more efficiently. This was decided at a meeting of PPIB Board on Wednesday. It was presided over b
Published 30 Jun, 2011 12:00am
Private contractors to run Gencos: PPIB

Private contractors to run Gencos: PPIB

The government has decided to induct private sector operation and maintenance contractors to make the public sector power Generation Companies (Gencos ) run more efficiently. This was decided at a meeting of PPIB Board on Wednesday. It was presided over b
Published 30 Jun, 2011 12:00am
PSO accounts: AGP detects Rs 1.25 billion irregularities

PSO accounts: AGP detects Rs 1.25 billion irregularities

The Auditor General of Pakistan (AGP) has detected embezzlements and irregularities of Rs 1.25 billion due to mismanagement in Pakistan State Oil Company (PSO) Limited. According Audit Report-2010-11, national kitty faced loss of Rs 815 million due to imp
Published 30 Jun, 2011 12:00am
PSO accounts: AGP detects Rs 1.25 billion irregularities

PSO accounts: AGP detects Rs 1.25 billion irregularities

The Auditor General of Pakistan (AGP) has detected embezzlements and irregularities of Rs 1.25 billion due to mismanagement in Pakistan State Oil Company (PSO) Limited. According Audit Report-2010-11, national kitty faced loss of Rs 815 million due to imp
Published 30 Jun, 2011 12:00am
PSO accounts: AGP detects Rs 1.25 billion irregularities

PSO accounts: AGP detects Rs 1.25 billion irregularities

The Auditor General of Pakistan (AGP) has detected embezzlements and irregularities of Rs 1.25 billion due to mismanagement in Pakistan State Oil Company (PSO) Limited. According Audit Report-2010-11, national kitty faced loss of Rs 815 million due to imp
Published 30 Jun, 2011 12:00am
IMF rejects 'austerity' as Athens burns

IMF rejects 'austerity' as Athens burns

The controversial plan passed by the Greek parliament is not an "austerity" program, the IMF said Wednesday, as protests turned violent in Athens and fire broke out at the Greek finance ministry. "I just want to make one point: this is often portrayed in
Published 30 Jun, 2011 12:00am
IMF rejects 'austerity' as Athens burns

IMF rejects 'austerity' as Athens burns

The controversial plan passed by the Greek parliament is not an "austerity" program, the IMF said Wednesday, as protests turned violent in Athens and fire broke out at the Greek finance ministry. "I just want to make one point: this is often portrayed in
Published 30 Jun, 2011 12:00am
IMF rejects ''austerity'' as Athens burns

IMF rejects ''austerity'' as Athens burns

The controversial plan passed by the Greek parliament is not an "austerity" program, the IMF said Wednesday, as protests turned violent in Athens and fire broke out at the Greek finance ministry. "I just want to make one point: this is often portrayed in
Published 30 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (June 29, 2011).

Published 30 Jun, 2011 12:00am
Leave drone attack base now, Pakistan tells US army

Leave drone attack base now, Pakistan tells US army

Pakistan told the United States to leave a remote desert air base Shamsi airbase in Balochistan reportedly used as a hub for covert CIA drone attacks, Defence Minister Ahmed Mukhtar was quoted by state media as saying Wednesday. "We have told them (US off
Published 30 Jun, 2011 12:00am
Leave drone attack base now, Pakistan tells US army

Leave drone attack base now, Pakistan tells US army

Pakistan told the United States to leave a remote desert air base Shamsi airbase in Balochistan reportedly used as a hub for covert CIA drone attacks, Defence Minister Ahmed Mukhtar was quoted by state media as saying Wednesday. "We have told them (US off
Published 30 Jun, 2011 12:00am
Islamabad ready to facilitate Afghan-led peace process

Islamabad ready to facilitate Afghan-led peace process

Pakistan has reaffirmed its support and expressed readiness to encourage and facilitate wide-ranging Afghan-led and Afghan-owned peace process that is aimed at bringing Taliban into the mainstream politics of the country. Pakistan expressed this commitmen
Published 30 Jun, 2011 12:00am
Islamabad ready to facilitate Afghan-led peace process

Islamabad ready to facilitate Afghan-led peace process

Pakistan has reaffirmed its support and expressed readiness to encourage and facilitate wide-ranging Afghan-led and Afghan-owned peace process that is aimed at bringing Taliban into the mainstream politics of the country. Pakistan expressed this commitmen
Published 30 Jun, 2011 12:00am
West queries China over nuclear reactors

West queries China over nuclear reactors

Western nations pressed China at closed-door nuclear talks to provide more information and help address concerns about its plans to expand an atomic energy plant in Pakistan, diplomatic sources said on Wednesday. But China showed no sign of reconsidering
Published 30 Jun, 2011 12:00am
West queries China over nuclear reactors

West queries China over nuclear reactors

Western nations pressed China at closed-door nuclear talks to provide more information and help address concerns about its plans to expand an atomic energy plant in Pakistan, diplomatic sources said on Wednesday. But China showed no sign of reconsidering
Published 30 Jun, 2011 12:00am
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