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Archive - 2011-07-04
Habib Bank growing steadily in UK
Top News

Habib Bank growing steadily in UK

LONDON : Habib Bank is making steady strides in the UK through its consumer friendly strategies that has allowed the f
Published 04 Jul, 2011 11:25am
CNG dealers to move court
Top News

CNG dealers to move court

KARACHI : CNG Station Owners Association (CSOA) and chairman CNG Dealers Association (CDA) have threatened to move the
Published 04 Jul, 2011 07:52am
China road accident kills 26
Asia

China road accident kills 26

BEIJING : At least 26 people were killed and more than 30 others injured in central China Monday when a long-distance
Published 04 Jul, 2011 06:41am
Carrefour board backs Brazil merger plan
Top News

Carrefour board backs Brazil merger plan

PARIS : France's Carrefour backed a plan to merge its Brazilian operations with Brazil's top retailer, Grupo Pao de Acuc
Published 04 Jul, 2011 06:26am
India offers veiled warning to NSG
Top News

India offers veiled warning to NSG

NEW DELHI : India has suggested that countries refusing to match nuclear reactor sales with technology transfers could b
Published 04 Jul, 2011 06:22am
How FBR met the revenue target
BR Research

How FBR met the revenue target

Against all odds and expectations; with a triumphant look on his face, FBR chairman Salman Siddiq announced on Thursday night that the gover
Published 04 Jul, 2011 12:00am
Indonesian CG opens 66th Independence Day celebrations

Indonesian CG opens 66th Independence Day celebrations

Consul General of Republic of Indonesia Rossalis R Adenan on Sunday inaugurated the celebrations of the 66th Independence Day of Indonesia with a colorful ceremony held on the lush green lawn of the Indonesian Consulate in Karachi.
Published 04 Jul, 2011 12:00am
Brahvi singer laid to rest in Khuzdar

Brahvi singer laid to rest in Khuzdar

A noted singer of Brahvi language Zahoor Zaib has been buried in the ancestor graveyard in Kanak area of Khuzdar district on Sunday. Zaib had earned his name by singing songs in Brahvi language. He was suffering from ailment for long time and admitted to
Published 04 Jul, 2011 12:00am
Pipeline burst affects water supply to Karachi

Pipeline burst affects water supply to Karachi

Water supply to Karachi went hampered here on Sunday when a main supply pipeline from Gharo pumping station burst due to backpressure of water after a sudden electricity outage. As per details, 72-inch diameter main pipeline burst when electricity supply
Published 04 Jul, 2011 12:00am
Two killed in firing near Turbat

Two killed in firing near Turbat

Two persons were killed when unknown armed men opened fire on a vehicle of a construction company near Turbat on Sunday. According to details, two persons including Attaullah, Manager Rakhshani Builder, were going in their vehicle when unknown motorcyclis
Published 04 Jul, 2011 12:00am
Sanitary conditions inspected

Sanitary conditions inspected

Member National Assembly, Nishat Zia Qadri along with Director General, Environmental Protection Agency (EPA), Shahid Sarfaraz inspected sanitary conditions and cleaning arrangements in various union councils of Shah Faisal Town here on Sunday.
Published 04 Jul, 2011 12:00am
Dispensaries need more medicines, equipment

Dispensaries need more medicines, equipment

Government needs to invest more in the state-run dispensaries, the first unit in the healthcare infrastructure, to enable them to effectively cope with the basic medical needs of the people.
Published 04 Jul, 2011 12:00am
Energy security

Energy security

Appalled by the totality of energy crisis in the country Prime Minister Syed Yousuf Raza Gilani in his interview to Aaj News and PTV has revealed that the government will devise a master plan in two months with a view to tackling the issue of electricity
Published 04 Jul, 2011 12:00am
Who controls Shamsi airbase?

Who controls Shamsi airbase?

As defence minister, Ahmad Mukhtar, should be one of the best-informed persons about Pakistan's defence matters and security issues. May be he is so, but the nonchalance that generally abounds in his remarks and comments in encounters with the media, tend
Published 04 Jul, 2011 12:00am
Budget's targets for 2011-12 - II

Budget's targets for 2011-12 - II

The federal government in its budget for the fiscal year 2010-11 proposed a 4 percent budget deficit and a growth rate of 4.2 percent. For credibility, these forecasts must be backed by the budget's tax and expenditure measures. The question is: is there
Published 04 Jul, 2011 12:00am
Economic outlook

Economic outlook

Contrary to the claims, assessments and predictions by a number of economists and analysts, the FBR has collected Rs 1590.462 billion against the tax collection target of Rs 1588 billion for the outgoing financial year.
Published 04 Jul, 2011 12:00am
Much ado about nothing

Much ado about nothing

Indo-Pakistan relations are so deeply mired in history that moving them away from the stated positions and expressing willingness to tread a middle path requires a deep political conviction, which is most often lacking whenever diplomatic parleys have tak
Published 04 Jul, 2011 12:00am
Two tears for slain professor

Two tears for slain professor

One of the professors of Bolan Medical College, Quetta used to come to my office almost daily where I was working as Passenger Sales Manager, PIA about 10 years back. He used to provide pick and drop to his wife - our colleague in PIA and also to their on
Published 04 Jul, 2011 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (June 27 to July 02, 2011)

Published 04 Jul, 2011 12:00am
The Weather

The Weather

The weather report on Sunday (July 03, 2011) and the forecast for Monday (July 04, 2011).

Published 04 Jul, 2011 12:00am
US shifts supply routes to Central Asia

US shifts supply routes to Central Asia

The US military is expanding its Central Asian supply routes to the war in Afghanistan, fearing that the routes going through Pakistan could be endangered by deteriorating US-Pakistani relations, The Washington Post reported late Saturday.
Published 04 Jul, 2011 12:00am
US shifts supply routes to Central Asia

US shifts supply routes to Central Asia

The US military is expanding its Central Asian supply routes to the war in Afghanistan, fearing that the routes going through Pakistan could be endangered by deteriorating US-Pakistani relations, The Washington Post reported late Saturday.
Published 04 Jul, 2011 12:00am
THE RUPEE: new fiscal year opens with slight fluctuations

THE RUPEE: new fiscal year opens with slight fluctuations

Range-bound trading was seen on money market during the week ended on July 2, 2011, as the rupee fluctuated slightly with marginal gain in terms of dollar, while it drifted sharply lower against euro as the single European currency's performance was excel
Published 04 Jul, 2011 12:00am
THE RUPEE: new fiscal year opens with slight fluctuations

THE RUPEE: new fiscal year opens with slight fluctuations

Range-bound trading was seen on money market during the week ended on July 2, 2011, as the rupee fluctuated slightly with marginal gain in terms of dollar, while it drifted sharply lower against euro as the single European currency's performance was excel
Published 04 Jul, 2011 12:00am
Thaksin's party wins Thai election by a landslide

Thaksin's party wins Thai election by a landslide

Thailand's opposition won a landslide election victory on Sunday, led by the sister of former Thai prime minister Thaksin Shinawatra in a triumph for red-shirt protesters who clashed with the army last year.
Published 04 Jul, 2011 12:00am
Thaksin's party wins Thai election by a landslide

Thaksin's party wins Thai election by a landslide

Thailand's opposition won a landslide election victory on Sunday, led by the sister of former Thai prime minister Thaksin Shinawatra in a triumph for red-shirt protesters who clashed with the army last year.
Published 04 Jul, 2011 12:00am
Time for mid-term poll is over: Prime Minister

Time for mid-term poll is over: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Sunday rejected Opposition's call for mid-term polls and said it was time for local governments elections in the country. Talking to newsmen here, he said, "the government has just got passed its fourth budget and
Published 04 Jul, 2011 12:00am
Time for mid-term poll is over: Prime Minister

Time for mid-term poll is over: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Sunday rejected Opposition's call for mid-term polls and said it was time for local governments elections in the country. Talking to newsmen here, he said, "the government has just got passed its fourth budget and
Published 04 Jul, 2011 12:00am
Mixed trend on KSE

Mixed trend on KSE

The Karachi share market witnessed mixed trend during the week ended on July 2, 2011 and the KSE-100 index rose to 12,484.17 points with a modest gain of 19.91 points. Trading remained extremely low and the average daily volume at the ready counter declin
Published 04 Jul, 2011 12:00am
Mixed trend on KSE

Mixed trend on KSE

The Karachi share market witnessed mixed trend during the week ended on July 2, 2011 and the KSE-100 index rose to 12,484.17 points with a modest gain of 19.91 points. Trading remained extremely low and the average daily volume at the ready counter declin
Published 04 Jul, 2011 12:00am
Mixed trend on KSE

Mixed trend on KSE

The Karachi share market witnessed mixed trend during the week ended on July 2, 2011 and the KSE-100 index rose to 12,484.17 points with a modest gain of 19.91 points. Trading remained extremely low and the average daily volume at the ready counter declin
Published 04 Jul, 2011 12:00am
Futures open interest up by 37 percent

Futures open interest up by 37 percent

Total open interest position at the futures counter during the week ended on July 2, 2011 increased by 37 percent, to Rs 792 million. On the other hand, the futures spreads also surged by 112bps to 9.3 percent. However, average daily volume at the futures
Published 04 Jul, 2011 12:00am
Futures open interest up by 37 percent

Futures open interest up by 37 percent

Total open interest position at the futures counter during the week ended on July 2, 2011 increased by 37 percent, to Rs 792 million. On the other hand, the futures spreads also surged by 112bps to 9.3 percent. However, average daily volume at the futures
Published 04 Jul, 2011 12:00am
Futures open interest up by 37 percent

Futures open interest up by 37 percent

Total open interest position at the futures counter during the week ended on July 2, 2011 increased by 37 percent, to Rs 792 million. On the other hand, the futures spreads also surged by 112bps to 9.3 percent. However, average daily volume at the futures
Published 04 Jul, 2011 12:00am
Futures open interest up by 37 percent

Futures open interest up by 37 percent

Total open interest position at the futures counter during the week ended on July 2, 2011 increased by 37 percent, to Rs 792 million. On the other hand, the futures spreads also surged by 112bps to 9.3 percent. However, average daily volume at the futures
Published 04 Jul, 2011 12:00am
British royals charm Quebecers, protests kept away

British royals charm Quebecers, protests kept away

Prince William and his bride Catherine charmed a crush of well-wishers in Quebec City on Sunday as police lines kept republican protests far from their first official foreign trip as newlyweds.
Published 04 Jul, 2011 12:00am
Insurgents 'bought' suicide bomber: Afghan spy agency

Insurgents 'bought' suicide bomber: Afghan spy agency

Afghanistan's intelligence agency said on Sunday that a senior commander from the Pakistani Taliban sold a suicide bomber to an Afghan militant network, to carry out an attack on a local commander in eastern Afghanistan.
Published 04 Jul, 2011 12:00am
Iran mourns 1988 airliner downing by US warship

Iran mourns 1988 airliner downing by US warship

Iranians mourning a 23-year-old airline tragedy tossed flowers in the Gulf on Sunday at the site where an Iranian passenger plane was downed by a US warship, killing all 290 aboard in an incident Washington describes as a mistake but many in Iran consider
Published 04 Jul, 2011 12:00am
Ibad's resignation received: Babar

Ibad's resignation received: Babar

Presidential Spokesperson Farhatullah Babar has said that resignation of Sindh Governor Dr Ishratul Ibad Khan has been received, Aaj News reported. Talking to the channel, Babar said that decision whether to accept the resignation or not would be taken by
Published 04 Jul, 2011 12:00am
Ibad's resignation received: Babar

Ibad's resignation received: Babar

Presidential Spokesperson Farhatullah Babar has said that resignation of Sindh Governor Dr Ishratul Ibad Khan has been received, Aaj News reported. Talking to the channel, Babar said that decision whether to accept the resignation or not would be taken by
Published 04 Jul, 2011 12:00am
Three of family killed as heavy rains lash Lahore

Three of family killed as heavy rains lash Lahore

The 31mm of rains coupled with thunderstorm measuring 37 nautical miles lashed the city providing respite to the people from humid weather. Most of the low lying areas at Davis road, Laxmi chowk, GT road, Nisbat road, Lawrence road, cooper road, The Mall,
Published 04 Jul, 2011 12:00am
Three of family killed as heavy rains lash Lahore

Three of family killed as heavy rains lash Lahore

The 31mm of rains coupled with thunderstorm measuring 37 nautical miles lashed the city providing respite to the people from humid weather. Most of the low lying areas at Davis road, Laxmi chowk, GT road, Nisbat road, Lawrence road, cooper road, The Mall,
Published 04 Jul, 2011 12:00am
Djokovic stuns Nadal to win Wimbledon title

Djokovic stuns Nadal to win Wimbledon title

Novak Djokovic won his first Wimbledon title on Sunday, dethroning champion Rafael Nadal with a 6-4, 6-1, 1-6, 6-3 triumph to celebrate his coronation as new world number one in style. It was the 24-year-old Serb's third Grand Slam title, to add to his 20
Published 04 Jul, 2011 12:00am
Djokovic stuns Nadal to win Wimbledon title

Djokovic stuns Nadal to win Wimbledon title

Novak Djokovic won his first Wimbledon title on Sunday, dethroning champion Rafael Nadal with a 6-4, 6-1, 1-6, 6-3 triumph to celebrate his coronation as new world number one in style. It was the 24-year-old Serb's third Grand Slam title, to add to his 20
Published 04 Jul, 2011 12:00am
Militancy: Islamabad's view 'definitely been altered': Delhi

Militancy: Islamabad's view 'definitely been altered': Delhi

Indian Foreign Secretary Nirupama Rao said Islamabad's view on militancy had "definitely been altered." She noted that Pakistan now spoke of the need to tackle non-state actors and safe havens and sanctuaries for militants.
Published 04 Jul, 2011 12:00am
Militancy: Islamabad's view 'definitely been altered': Delhi

Militancy: Islamabad's view 'definitely been altered': Delhi

Indian Foreign Secretary Nirupama Rao said Islamabad's view on militancy had "definitely been altered." She noted that Pakistan now spoke of the need to tackle non-state actors and safe havens and sanctuaries for militants.
Published 04 Jul, 2011 12:00am
Amarnaths pilgrims injured in IHK police action

Amarnaths pilgrims injured in IHK police action

Over a dozen Amarnath pilgrims were injured in police action at Patnitop on Srinagar-Jammu highway in Indian occupied Kashmir. The police personnel used batons against the pilgrims who were trying to disrupt traffic when they were halted due to bad weathe
Published 04 Jul, 2011 12:00am
PML-N attitude termed 'political terrorism'

PML-N attitude termed 'political terrorism'

Terming attitude of Pakistan Muslim League-Nawaz (PML-N) as 'political terrorism', chairperson Benazir Income Support Programme (BISP) Farzana Raja on Sunday lashed out at PML-N chief Nawaz Sharif for criticising BISP, saying statements against the progra
Published 04 Jul, 2011 12:00am
Shahbaz rules out meeting with Altaf Hussain

Shahbaz rules out meeting with Altaf Hussain

Chief Minister Punjab Shahbaz Sharif on Sunday dismissed media reports regarding his expected meeting with Muttahida Qaumi Movement (MQM) chief Altaf Hussain in London in connection with formation of 'grand opposition alliance' as he left for a five-day v
Published 04 Jul, 2011 12:00am
NBP to cross 1,000 online branches by year-end

NBP to cross 1,000 online branches by year-end

The National Bank of Pakistan has two goals to achieve this year: automation of its banking, and improvement of consumer services. These are the two long cherished targets that the national flag carrier bank has currently been concentrating upon on fast t
Published 04 Jul, 2011 12:00am
Speakers stress need to encourage entrepreneurial potential

Speakers stress need to encourage entrepreneurial potential

Speakers at a conference stressed the need to encourage entrepreneurial potential in the country to get better business opportunities in the world, saying that entrepreneurship is about devising and implementing new ideas and improving old ones.
Published 04 Jul, 2011 12:00am
Supreme Court forms two benches

Supreme Court forms two benches

Chief Justice Iftikhar Muhammad Chaudhry has constituted two benches at the principal seat to hear a number of important cases in the next week starting from July 4. The first bench includes the Chief Justice, Justice Tassaduq Hussain Jilani and Justice K
Published 04 Jul, 2011 12:00am
Taliban kill three policemen

Taliban kill three policemen

Around two dozen Taliban armed with rocket launchers and automatic weapons attacked a police checkpost in north-west Pakistan Sunday, killing three policemen and wounding another, police said. The militants struck before dawn in Shangla, a district of tro
Published 04 Jul, 2011 12:00am
IHC's four benches from Monday

IHC's four benches from Monday

Chief Justice of Islamabad High Court (IHC) Justice Iqbal Hameed ur Rehman has constituted four benches, including a divisional bench, to hear a number of cases from next week starting on Monday.
Published 04 Jul, 2011 12:00am
Sale of bottled water increases manifold

Sale of bottled water increases manifold

Shortage of affordable and safe drinking water has given boost to mushroom growth of bottled water industry in the country but fate of this water is also suspicious and 69 fake brands are being sold in the market.
Published 04 Jul, 2011 12:00am
'Services Hospital made a patient-friendly institute'

'Services Hospital made a patient-friendly institute'

The Services Hospital Lahore had been converted into a patient-friendly model institute, said Medical Superintendent of the Hospital Dr Muhammad Javed here on Sunday. He said that due to the computerisation of the hospital record, improvement had been wit
Published 04 Jul, 2011 12:00am
Enforcement of Drug Act: summary sent to Punjab Governor

Enforcement of Drug Act: summary sent to Punjab Governor

A spokesman of Punjab government here on Sunday said that provincial government has sent a summary to Governor Punjab for the enforcement of Drug Act in the province in the light of 18th Amendment to the Constitution'73 and he will issue an ordinance for
Published 04 Jul, 2011 12:00am
Lahore, Gujranwala, Multan CNG stations to close for three days

Lahore, Gujranwala, Multan CNG stations to close for three days

All CNG stations in Lahore and adjacent districts will remain closed for three days--on Monday to Wednesday--as announced by Sui Northern Gas Pipelines (SNGPL). For implementation on the decision, SNGPL management has constituted special teams, which woul
Published 04 Jul, 2011 12:00am
Prime Minister attends Qul of Hassan Raza Mashhadi

Prime Minister attends Qul of Hassan Raza Mashhadi

Prime Minister Syed Yusuf Raza Gilani attended the Qul ceremony of Mukhdoom Hassan Raza Mashhadi and offered condolences to the bereaved family here on Sunday. The Prime Minister also performed "Dastar-Bandi" of Sahibzada Ameer Qasim Shah, son of the late
Published 04 Jul, 2011 12:00am
CCTV training course

CCTV training course

Skill Development Council (SDC), Islamabad will organise a CCTV training course from Monday (today) to develop a professional approach in system designs and requirement capturing. The six-day course would focus on the key elements of the CCTV from compone
Published 04 Jul, 2011 12:00am
JI condemns kidnapping of Ajmal and Osama Waheed

JI condemns kidnapping of Ajmal and Osama Waheed

The Jamaat-e-Islami chief, Syed Munawar Hasan, has condemned the 'Kidnapping' of Ajmal Waheed and Osama Waheed by the agencies and demanded their immediate release. He said that the agencies thought themselves above the law and were openly ridiculing the
Published 04 Jul, 2011 12:00am
JI Shoora suggests steps to improve economy

JI Shoora suggests steps to improve economy

The Central Shoora of the Jamaat-e-Islami, Pakistan has called upon the rulers to cut down on their lavish spending and bring their wealth back from abroad in order to tide over the current economic situation in the country.
Published 04 Jul, 2011 12:00am
Four killed in car-van collision

Four killed in car-van collision

Four people including a woman were killed on motorway in a car-van collision on Sunday. According to police, a van driven by Muazzam Ali was heading to Islamabad, when it reached near Phularwan the driver started a race with a car driven by Tahir Babar.
Published 04 Jul, 2011 12:00am
Demand for rechargeable fans spikes as power deficit, mercury go up

Demand for rechargeable fans spikes as power deficit, mercury go up

The consumers are on a search for rechargeable fans in the markets of Rawalpindi and Islamabad as electricity is becoming scarce in the hottest months of summer. The search is not only for traditional things like fans, electric coolers and air conditioner
Published 04 Jul, 2011 12:00am
Yellow cab scheme to be launched soon in Rawalpindi

Yellow cab scheme to be launched soon in Rawalpindi

Political Advisor to the Chief Minister Punjab, Chaudhary Sarfraz Afzal, said on Sunday that yellow cab scheme would be launched shortly in the city. While talking to APP, he said the government of Punjab will distribute 20,000 yellow cab to the unemploye
Published 04 Jul, 2011 12:00am
Britain to review family immigration rules

Britain to review family immigration rules

Britain is to review the application of EU human rights rules that allow immigrants to bring their families into the country, the Home Office said Sunday. The review will look at how Britain deals with Article 8 of the European Convention on Human Rights
Published 04 Jul, 2011 12:00am
Mladic refuses to appear in court

Mladic refuses to appear in court

Ex-Bosnian Serb army chief Ratko Mladic has refused to reappear before a UN war crimes court to plead to charges for his role in the 1992-95 Bosnian war, including genocide, a lawyer said Sunday. "Mladic has told the prison authorities that he does not wa
Published 04 Jul, 2011 12:00am
More than 70 injured in Italy rail protests

More than 70 injured in Italy rail protests

More than 70 people were injured on Sunday when protesters opposed to a high-speed train line linking Italy to France threw stones and firecrackers at police during clashes in an Alpine valley. Thousands of people joined initially peaceful marches in the
Published 04 Jul, 2011 12:00am
Afghan drawdown may hurt battle for east: McCain

Afghan drawdown may hurt battle for east: McCain

US President Barack Obama's decision to bring troops home from Afghanistan faster than the military recommended could jeopardise the next major push of the war, to unseat insurgents in the east, US senator John McCain said on Sunday. McCain and fellow Rep
Published 04 Jul, 2011 12:00am
Hamas calls on Greece to let Gaza flotilla sail

Hamas calls on Greece to let Gaza flotilla sail

The Hamas government in the Gaza Strip on Sunday called on Greece to allow a flotilla of aid ships to set sail for the Israeli-blockaded Palestinian territory.
Published 04 Jul, 2011 12:00am
France split over Strauss-Kahn's return to politics

France split over Strauss-Kahn's return to politics

France is split over whether Dominique Strauss-Kahn, the embattled former head of the International Monetary Fund (IMF), should return to politics, according to a poll published Sunday in the French daily Le Parisien.
Published 04 Jul, 2011 12:00am
Lukashenko warns against Belarus 'revolution' plot

Lukashenko warns against Belarus 'revolution' plot

Belarus President Alexander Lukashenko warned his opponents Sunday against considering any uprising against his rule as the military staged a Soviet-style show of force in an Independence Day parade.
Published 04 Jul, 2011 12:00am
Palestinian Authority employees face half-pay as aid delayed: Fayyad

Palestinian Authority employees face half-pay as aid delayed: Fayyad

Palestinian Authority staff will only receive half their salaries this month as donors continue to deliver less money than pledged, the Palestinian prime minister said on Sunday. Salam Fayyad warned at a press conference in the West Bank town of Ramallah
Published 04 Jul, 2011 12:00am
Passer-by saves China toddler in 10-storey fall

Passer-by saves China toddler in 10-storey fall

A two-year-old Chinese girl survived a fall from a 10th-floor window thanks to a passer-by who raced to catch the toddler, state media reported Sunday. Wu Juping, 31 - herself the mother of a seven-month-old baby - was feted as a heroine on Chinese televi
Published 04 Jul, 2011 12:00am
Qadhafi can stay in Libya if he quits: rebel chief

Qadhafi can stay in Libya if he quits: rebel chief

Muammar Qadhafi is welcome to live out his retirement inside Libya as long as he gives up all power, Libya's rebel chief told Reuters on Sunday in the clearest concession the rebels have so far offered.
Published 04 Jul, 2011 12:00am
Turkey recognises Libyan rebel council

Turkey recognises Libyan rebel council

Turkey's top diplomat on Sunday recognised Libya's rebel council as the legitimate representative of the Libyan people, as he vowed to do "everything" possible to end the fighting. Ahmet Davutoglu arrived in Benghazi, giving the National Transitional Coun
Published 04 Jul, 2011 12:00am
Syrian tanks deploy at Hama after large protest

Syrian tanks deploy at Hama after large protest

Syrian tanks have deployed at the entrances to the city of Hama, activists and residents said on Sunday, two days after it saw the largest protest against President Bashar al-Assad since an uprising began three months ago.
Published 04 Jul, 2011 12:00am
Yemen's Saleh clings to power, unrest rises in south

Yemen's Saleh clings to power, unrest rises in south

Yemen's president, in hospital in Riyadh, will not cede power until he returns to oversee a transition, a Yemeni cabinet official said on Sunday, extending a period of political limbo. The fractious Arabian Peninsula state has been paralysed by six-months
Published 04 Jul, 2011 12:00am
Iraq attacks kill three civilians, seven policemen

Iraq attacks kill three civilians, seven policemen

Seven policemen and three civilians were killed in a drive-by shooting and other attacks in Iraq on Sunday, police and interior ministry officials said. "At 8:30 am (0530 GMT), gunmen riding in a car and carrying automatic weapons killed five policemen gu
Published 04 Jul, 2011 12:00am
China funds raise equity weightings

China funds raise equity weightings

Mutual funds in China raised their recommended equity weightings to an eight-month high in June, betting inflation will stabilise in the second half of the year and further monetary policy tightening will be limited, a Reuters poll showed.
Published 04 Jul, 2011 12:00am
China funds raise equity weightings

China funds raise equity weightings

Mutual funds in China raised their recommended equity weightings to an eight-month high in June, betting inflation will stabilise in the second half of the year and further monetary policy tightening will be limited, a Reuters poll showed.
Published 04 Jul, 2011 12:00am
London to focus on British interest rate call next week

London to focus on British interest rate call next week

British investors will focus next week on an interest rate decision from the Bank of England amid a smattering of economic data and a dearth of company earnings news. London's FTSE 100 index advanced 5.13 percent over the past week to finish at 5,989.76 p
Published 04 Jul, 2011 12:00am
Global Markets Weekahead: starting afresh in third quarter

Global Markets Weekahead: starting afresh in third quarter

Investors have entered the third quarter anticipating a somewhat calmer investment climate than the previous three months as focus shifts back to the underlying strength of the global economy and corporate earnings.
Published 04 Jul, 2011 12:00am
Cash-stripped Balkan states tap international markets

Cash-stripped Balkan states tap international markets

After Croatia launched a new seven-year Eurobond on Thursday, the first in two years, other Balkan countries also plan to tap international markets this or the next year to raise cash for their financing needs.
Published 04 Jul, 2011 12:00am
Cash-stripped Balkan states tap international markets

Cash-stripped Balkan states tap international markets

After Croatia launched a new seven-year Eurobond on Thursday, the first in two years, other Balkan countries also plan to tap international markets this or the next year to raise cash for their financing needs.
Published 04 Jul, 2011 12:00am
US bonds still reign

US bonds still reign

Can't live with them, can't live without them. That's what this week's bond market slide says about investors' view of US Treasuries. Fears of contagion from the eurozone debt crisis brought investors to Treasuries in the first place, reaffirming the bond
Published 04 Jul, 2011 12:00am
US bonds still reign

US bonds still reign

Can't live with them, can't live without them. That's what this week's bond market slide says about investors' view of US Treasuries. Fears of contagion from the eurozone debt crisis brought investors to Treasuries in the first place, reaffirming the bond
Published 04 Jul, 2011 12:00am
H2 risks may staunch emerging bond issue flood

H2 risks may staunch emerging bond issue flood

Emerging market debt issuance has soared in the first six months of 2011, driven by heavy corporate bond volumes and flying in the face of debt problems in the developed world, but risk aversion may erode demand in the second half.
Published 04 Jul, 2011 12:00am
H2 risks may staunch emerging bond issue flood

H2 risks may staunch emerging bond issue flood

Emerging market debt issuance has soared in the first six months of 2011, driven by heavy corporate bond volumes and flying in the face of debt problems in the developed world, but risk aversion may erode demand in the second half.
Published 04 Jul, 2011 12:00am
Wall Street Weekahead: rally may spell pullback for US stocks

Wall Street Weekahead: rally may spell pullback for US stocks

A pullback could be on the table this week for US stocks after their best weekly performance in two years, especially if a raft of data headlined by the June jobs report doesn't bolster the argument of a strengthening economy.
Published 04 Jul, 2011 12:00am
Tokyo shares seen capped by profit-taking

Tokyo shares seen capped by profit-taking

Tokyo shares are expected to be weighed by profit-taking next week after a recent upward march, with the market focusing on US jobs data for clues on the health of the world's number one economy. "Investors are seen likely to lock in profits from stocks'
Published 04 Jul, 2011 12:00am
Washington Mutual shareholders win over $208 million

Washington Mutual shareholders win over $208 million

Former Washington Mutual executives have agreed to pay $208.5 million to settle a lawsuit launched by a group of investors after the bank's failure in 2008, the largest ever of its kind.
Published 04 Jul, 2011 12:00am
Washington Mutual shareholders win over $208 million

Washington Mutual shareholders win over $208 million

Former Washington Mutual executives have agreed to pay $208.5 million to settle a lawsuit launched by a group of investors after the bank's failure in 2008, the largest ever of its kind.
Published 04 Jul, 2011 12:00am
US fund managers back into equities on Greek relief

US fund managers back into equities on Greek relief

US fund managers tiptoed back into equity markets in June for the first time in two months and decreased bond exposure on hopes Greece will avoid default, a Reuters poll showed on Thursday. The poll of 15 US-based fund management firms, taken between June
Published 04 Jul, 2011 12:00am
US fund managers back into equities on Greek relief

US fund managers back into equities on Greek relief

US fund managers tiptoed back into equity markets in June for the first time in two months and decreased bond exposure on hopes Greece will avoid default, a Reuters poll showed on Thursday. The poll of 15 US-based fund management firms, taken between June
Published 04 Jul, 2011 12:00am
British ministry says cuts could make thousands homeless

British ministry says cuts could make thousands homeless

Around 40,000 British families could be made homeless by welfare cuts introduced by the coalition government, the office of a senior minister has reportedly warned Prime Minister David Cameron. A leaked letter published in The Observer newspaper on Sunday
Published 04 Jul, 2011 12:00am
Two-thirds of Britons think economy getting worse: poll

Two-thirds of Britons think economy getting worse: poll

Two-thirds of Britons think the economy is getting worse and most are cutting back drastically on their spending to make ends meet in the face of rising food, fuel and energy prices, according to a poll on Sunday. The findings follow a string of retail fa
Published 04 Jul, 2011 12:00am
Tiger Airways says Australia ban cost $1.6 million a week

Tiger Airways says Australia ban cost $1.6 million a week

Singapore budget airline Tiger Airways Holdings said Australian regulators' decision to halt its domestic operations there over safety concerns would cost it an estimated S$2 million ($1.6 million) a week.
Published 04 Jul, 2011 12:00am
Iran says won't cut India oil over payment dispute

Iran says won't cut India oil over payment dispute

Iran will not cut oil supplies to India despite warning refiners it could do so if months of unpaid bills are not settled soon, the Iranian Oil Ministry's news website SHANA said on Sunday.
Published 04 Jul, 2011 12:00am
Bangladesh hit by strike over offshore gas deal

Bangladesh hit by strike over offshore gas deal

Large swathes of Bangladeshi capital Dhaka were shut down Sunday during a nation-wide strike protesting against a government oil exploration deal with a US company.
Published 04 Jul, 2011 12:00am
China pledges to push on with key reforms

China pledges to push on with key reforms

China's central bank on Sunday pledged to forge ahead with key financial reforms, shore up foreign exchange management and provide more credit for the country's cash-starved small firms.
Published 04 Jul, 2011 12:00am
Boeing Dreamliner lands in Japan for tests

Boeing Dreamliner lands in Japan for tests

Boeing's 787 Dreamliner flew into Tokyo from Seattle Sunday for test flights as All Nippon Airways prepares to become the world's first airline to deploy the new fuel-efficient long-haul jet.
Published 04 Jul, 2011 12:00am
Japan officials draw up Tepco break up plan

Japan officials draw up Tepco break up plan

A group of Japanese government heavyweights has written a secret proposal to break up Tokyo Electric Power Co and nationalise its nuclear operations, a newspaper said on Sunday.
Published 04 Jul, 2011 12:00am
UBS reviewing goals in tough conditions

UBS reviewing goals in tough conditions

Switzerland's UBS is still facing difficult market conditions after a tough second quarter and is reviewing its mid-term goals, the bank's chairman was quoted as saying on Sunday. Kaspar Villiger also warned in the interview with Switzerland's SonntagsZei
Published 04 Jul, 2011 12:00am
Eurozone warns Greeks on sovereignty, privatisation

Eurozone warns Greeks on sovereignty, privatisation

Eurozone finance ministers have approved a 12 billion euro instalment of Greece's bailout, but signalled that the nation must expect significant losses of sovereignty and jobs. Ministers in the Eurogroup gave the go-ahead for the fifth tranche of Greece's
Published 04 Jul, 2011 12:00am
Allianz to chip in 300 million euros for Greece

Allianz to chip in 300 million euros for Greece

German insurer Allianz will chip in 300 million euros ($436 million) to a fresh Greek rescue, the company's chief executive officer told a German magazine. "We are talking about a financing commitment of the Allianz Group of about 300 million euros by 201
Published 04 Jul, 2011 12:00am
Eight detained over Kabul Bank scandal

Eight detained over Kabul Bank scandal

Afghan authorities detained eight people in a relation to Afghanistan's Kabulbank scandal, a top Afghan prosecutor said on Sunday, including three Indian nationals who their embassy said were released hours after being taken in.
Published 04 Jul, 2011 12:00am
Banks cutting principal on some mortgages: New York Times

Banks cutting principal on some mortgages: New York Times

Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported on Sunday.
Published 04 Jul, 2011 12:00am
Juncker says sees no danger to Spain, Italy, Belgium

Juncker says sees no danger to Spain, Italy, Belgium

Eurogroup chairman Jean-Claude Juncker told a German magazine he saw "no danger" for Spain, Italy and Belgium of fallout from the Greek crisis after eurozone finance ministers agreed to disburse more aid to Greece.
Published 04 Jul, 2011 12:00am
McDonald's plans to run UAE vehicles on biofuels

McDonald's plans to run UAE vehicles on biofuels

A Dubai-based company says it will convert used vegetable oil from McDonald's outlets into biofuels to power the fast food giant's delivery trucks in the country. Neutral Fuels, a joint venture between Neutral Group and an Emirati businessman, said Sunday
Published 04 Jul, 2011 12:00am
Zain Iraq in 'big challenge' to meet IPO deadline

Zain Iraq in 'big challenge' to meet IPO deadline

Zain Iraq faces "a big challenge" to meet an August deadline to launch an initial public offering and may end up floating less than a regulator-mandated 25-percent stake, its chief executive said. The operator, a unit of Kuwait's Zain , must become a list
Published 04 Jul, 2011 12:00am
Ton-up Chandimal downs England

Ton-up Chandimal downs England

Dinesh Chandimal's unbeaten 105 saw Sri Lanka to a six-wicket win against England in the third one-day international at Lord's here on Sunday as the tourists took a 2-1 lead in the five-match series. Sri Lanka, chasing 247 to win, finished on 249 for four
Published 04 Jul, 2011 12:00am
Weather forces draw in West Indies-India test

Weather forces draw in West Indies-India test

The second test between West Indies and India ended in a draw on Saturday after the fickle weather that had interrupted the match for days finally halted play.
Published 04 Jul, 2011 12:00am
India fined for slow over-rate

India fined for slow over-rate

India have been fined for maintaining a slow over-rate during the drawn second test against West Indies, the International Cricket Council (ICC) said on Sunday. India were three overs short of their target after considering time allowances, the ICC said i
Published 04 Jul, 2011 12:00am
Mehwish Iftikhar clinches gold medal in World Special Olympics

Mehwish Iftikhar clinches gold medal in World Special Olympics

A Kashmir-born Hearing Impaired and Mentally Retarded national special table-tennis star Mehwish Iftikhar emerged triumphant winning gold medal for Pakistan in the keenly-contested final match in the ongoing World Special Olympics in Athens.
Published 04 Jul, 2011 12:00am
Pakistan's athletes leave for Japan today

Pakistan's athletes leave for Japan today

A five-member contingent including one female will depart to Kobe, Japan on July 4 to participate in the 19th Asian Athletics Championship starting from July 7-10. According to a press release issued here, the contingent comprises Liaquat Ali, Zafar Iqbal
Published 04 Jul, 2011 12:00am
England's Broad fined for dissent

England's Broad fined for dissent

England bowler Stuart Broad has been fined 50 percent of his match fee for breaching the International Cricket Council (ICC) code of conduct during the second one-day international against Sri Lanka at Headingley on Friday. Broad was found to have breache
Published 04 Jul, 2011 12:00am
Executive suspended amid 2012 stadium claims

Executive suspended amid 2012 stadium claims

A 2012 Olympic Park Legacy Company executive has been suspended after a Sunday newspaper revealed she had been working for West Ham, the football team which won the bid to take over the main stadium. The OPLC board voted 14-0 in February to make the Hamme
Published 04 Jul, 2011 12:00am
Djokovic beats Nadal to win Wimbledon title

Djokovic beats Nadal to win Wimbledon title

Novak Djokovic won his first Wimbledon title on Sunday, dethroning champion Rafael Nadal with a 6-4, 6-1, 1-6, 6-3 triumph to celebrate his coronation as new world number one in style. It was the 24-year-old Serb's third Grand Slam title, to add to his 20
Published 04 Jul, 2011 12:00am
Wimbledon loss not as bad as Aussie woe: Nadal

Wimbledon loss not as bad as Aussie woe: Nadal

Rafael Nadal insisted on Sunday that his Wimbledon final defeat to Novak Djokovic was not the worst of his career, claiming his double dose of Australian Open misery was tougher to take. Nadal, the defending champion, was beaten 6-4, 6-1, 1-6, 6-3 by the
Published 04 Jul, 2011 12:00am
Barty wins girls' title to seal Australian double

Barty wins girls' title to seal Australian double

Ashleigh Barty completed a memorable double for Australia when she won the Wimbledon girls' singles title with a 7-5, 7-6 (7/3) victory over Russia's Irina Khromacheva in the final on Sunday.
Published 04 Jul, 2011 12:00am
Cuban boxing coach to rejoin duties during ongoing month

Cuban boxing coach to rejoin duties during ongoing month

Pakistan's Cuban boxing coach will arrive in Pakistan during the ongoing month to resume the charge of Pakistan team for a period of another one year, Secretary Pakistan Boxing Federation (PBF) M. Akram Khan said on Saturday.
Published 04 Jul, 2011 12:00am
Top officials arrested in match-fixing probe

Top officials arrested in match-fixing probe

Turkish police have arrested around 40 people, including the president of top side Fenerbahce as part of an ongoing investigation into match-fixing last season, the Anatolia news agency reported on Sunday. Aziz Yildirim was taken into custody early Sunday
Published 04 Jul, 2011 12:00am
Levet wins French Open

Levet wins French Open

Thomas Levet of France won the French Open at Le Golf National here on Sunday. Levet shot a final round of 70 for a seven-under par total of 277, one stroke clear of Thorbjorn Olesen of Denmark and Mark Foster of England.
Published 04 Jul, 2011 12:00am
UBS thwarts Deutsche by hiring Weber as next chairman

UBS thwarts Deutsche by hiring Weber as next chairman

Swiss bank UBS on July 1, named former Bundesbank president Axel Weber as its next chairman in a surprise move that robbed rival Deutsche Bank of a top candidate to succeed its chief Josef Ackermann in 2013.
Published 04 Jul, 2011 12:00am
Barclays sells assets to Axa Private Equity

Barclays sells assets to Axa Private Equity

British bank Barclays announced on June 30 it had agreed to sell a package of private equity interests, worth 520 million euros ($753 million), to an affiliate of French insurance group Axa.
Published 04 Jul, 2011 12:00am
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