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Archive - 2011-07-05
Canada blacklists Tehreek-e-Taliban
Top News

Canada blacklists Tehreek-e-Taliban

OTTAWA : Canada designated Tehreek-e-Taliban, a militant group behind a wave of bombings in Pakistan and a foiled plot
Published 05 Jul, 2011 09:11pm
European shares hit high
Financial

European shares hit high

LONDON : European shares inched higher in thin volume on Tuesday, rising for the seventh straight session, with French r
Published 05 Jul, 2011 04:53pm
Italy tax hike on banks
Money & Banking

Italy tax hike on banks

ROME : Italy will raise over 1.8 billion euros over the next three years from an increase in tax on banks and insuranc
Published 05 Jul, 2011 03:06pm
Philippine inflation hits 26-month high
Top News

Philippine inflation hits 26-month high

MANILA: Philippine inflation hit a 26-month high of 4.6 percent year-on-year in June, the government said Tuesday, a mon
Published 05 Jul, 2011 02:52pm
Logistics and Procurement Cell launched
Top News

Logistics and Procurement Cell launched

ISLAMABAD : The government on Tuesday launched first Logistics and Procurement Cell in Pakistan with the support of US
Published 05 Jul, 2011 02:02pm
Chile economy grew 0.4pc
Top News

Chile economy grew 0.4pc

SANTIAGO : Chile 's economic activity rose 0.4 percent in May from April, the central bank said on Tuesday, picking up
Published 05 Jul, 2011 01:48pm
Six killed, 18 injured in Orangi firing
Top News

Six killed, 18 injured in Orangi firing

KARACHI : At least six people were killed and 18 others injured in firing incidents on Tuesday in different parts of Ora
Published 05 Jul, 2011 01:02pm
Bahrain reform talks begin
Middle East

Bahrain reform talks begin

MANAMA : Bahrain is eager to get back to business after widespread upheaval over the past five months, when a protest
Published 05 Jul, 2011 11:09am
Bomb kills three soldiers in Waziristan
Top News

Bomb kills three soldiers in Waziristan

MIRANSHAH: A bomb attack killed three soldiers and wounded another 15 on Tuesday, striking a military convoy in the rest
Published 05 Jul, 2011 10:08am
Oil lower in quiet Asia trade
Energy

Oil lower in quiet Asia trade

SINGAPORE : Oil prices fell in Asia on Tuesday in thin trading after US markets were closed for the Independence Day
Published 05 Jul, 2011 05:24am
Oil up in Asia
Energy

Oil up in Asia

SINGAPORE: Oil was up in Asia on Tuesday in thin trading after US markets were closed for the Independence Day public ho
Published 05 Jul, 2011 04:53am
Europe gets Greeced
BR Research

Europe gets Greeced

It would be hard for Pakistan to find a cousin in the west when it comes to economic (mis)management. But Greece appears to have brought the
Published 05 Jul, 2011 12:00am
Saving to save the economy
BR Research

Saving to save the economy

Its been more than six months since the return on the National Saving Schemes products has remained unchanged. The culprit being: no change
Published 05 Jul, 2011 12:00am
FHIF, FHSF, FHCF declare final dividends 2010-2011

FHIF, FHSF, FHCF declare final dividends 2010-2011

The Board of Directors of Habib Asset Management Limited, the management company of First Habib Income Fund, First Habib Stock Fund and First Habib Cash Fund has declared Final Dividend for the year ended June 30, 2011 for the Unit holders of its respecti
Published 05 Jul, 2011 12:00am
Pakistan honoured

Pakistan honoured

The Rotary Foundation of Rotary International which is world's largest humanitarian service organisation honours Pakistan by nominating Muhammad Faiz Kidwai as the Regional Rotary Foundation Chair for Rotary International Zone 6-B comprising 9 countries i
Published 05 Jul, 2011 12:00am
'WeBOC launched as a pilot project'

'WeBOC launched as a pilot project'

Collector, Model Customs Collectorate of Port Qasim, Rubina Wasti on Monday said that WeBOC custom clearance system has been launched as pilot project and is an alternative to Pakistan Custom Computerised System (PaCCS) and One Custom.
Published 05 Jul, 2011 12:00am
Swiss hostages moved to al Qaeda hotbed

Swiss hostages moved to al Qaeda hotbed

A Swiss couple kidnapped on holiday in Pakistan have been smuggled into the lawless tribal belt on the Afghan border, a notorious haven for Taliban and al Qaeda, an official said Monday. Olivier David Och, 31, and Daniela Widmer, 28, were abducted on Frid
Published 05 Jul, 2011 12:00am
Seventeen firms interested in supplying Pakistan with LNG

Seventeen firms interested in supplying Pakistan with LNG

Seventeen foreign and domestic companies have shown an interest in supplying Pakistan with 500 million cubic feet per day (cfd) of liquefied natural gas (LNG) for up to 10 years, a spokesman for the government's gas company said on Monday.
Published 05 Jul, 2011 12:00am
Sub-committee on pesticides meets today

Sub-committee on pesticides meets today

The meeting of Pesticide subcommittee, constituted by the Punjab government under the directives of the Chief Minister Punjab Muhammad Shahbaz Sharif, will be held at Commissioner Office Multan on Tuesday to review the ongoing move against eradication of
Published 05 Jul, 2011 12:00am
Four million tons rice export to fetch $2.5 billion this year

Four million tons rice export to fetch $2.5 billion this year

Pakistan is likely to export 4 million tons rice till October whereas 3.8 million tons of the commodity has already been exported fetching $2.1 billion for the exchequer. Well-placed sources told Business Recorder on Monday that 1.2 million tons ba
Published 05 Jul, 2011 12:00am
SAFE EC meeting in Katmandu from July 6

SAFE EC meeting in Katmandu from July 6

In order to move forward on the agenda of regional financial integration within the South Asian Federation, the Executive Committee of the South Asian Federation of Exchanges (SAFE) will hold its next meeting at Katmandu, Nepal from July 6-8, 2011.
Published 05 Jul, 2011 12:00am
LHC directs additional director FIA to appear before court

LHC directs additional director FIA to appear before court

The Lahore High Court here Monday directed additional director Federal Investigation Agency (FIA) Zafar Qureshi to appear before the court on July 08 along with complete record in a petition of NICL scam accused and former federal minister Major Habibulla
Published 05 Jul, 2011 12:00am
Need stressed to control causes of malnutrition

Need stressed to control causes of malnutrition

The acute malnutrition rate among children in southern Punjab is shocking, that is 16 percent, which is 1 percent more than high emergency threshold level set by World Health Organisation (WHO), while the rate of severe malnutrition associated with highes
Published 05 Jul, 2011 12:00am
Zafar Qureshi suspended

Zafar Qureshi suspended

Managing Director, National Police Foundation and Additional DG, FIA Captain Zafar Ahmad Qureshi (Retd) has been placed under suspension by the competent authority declaring the explanation of the said officer unsatisfactory after examining it. The compet
Published 05 Jul, 2011 12:00am
Expedite work on Nandipur power project: Prime Minister

Expedite work on Nandipur power project: Prime Minister

Prime Minister Yousuf Raza Gilani on Monday directed to resolve the issue of delay in the 225 megawatt Nandipur power project. He issued the directive after taking notice of a news item published in a leading English daily. He said the government was comm
Published 05 Jul, 2011 12:00am
All special pays, allowances of government employees frozen

All special pays, allowances of government employees frozen

The government has frozen all special pays, special allowances or the allowances admissible as percentage of pay to the federal government/Federal Board of Revenue (FBR)/Police employees irrespective of their posting in Ministry/Division/ Department/FBR a
Published 05 Jul, 2011 12:00am
Hundreds of Afghan-based militants launch raid into Pakistan

Hundreds of Afghan-based militants launch raid into Pakistan

At least 300 militants crossed into Pakistan from Afghanistan and attacked a Pakistani checkpost, government and intelligence officials said on Monday, the sixth cross-border attack in a month that has raised tensions between the neighbours.
Published 05 Jul, 2011 12:00am
LHC asks IGP to remove corrupt police officials

LHC asks IGP to remove corrupt police officials

Chief Justice of Lahore High Court Ijaz Ahmad Chaudhry while hearing a petition against former SHO Satu Katla police station Ghulam Dastgir who allegedly kidnapped the petitioner's wife and forcibly solemnised nikkah with her directed the Inspector Genera
Published 05 Jul, 2011 12:00am
AJK election: polling in Karachi on July 20

AJK election: polling in Karachi on July 20

Azad Jammu and Kashmir (AJK) Election Commission (EC) on Monday announced that the polling in two constituencies of the AJK Legislative Assembly including LA-30 (Jammu-I) and LA-36 (Kashmir Valley-I) will be held on July 20.
Published 05 Jul, 2011 12:00am
Ban on production of fertiliser used in IEDs

Ban on production of fertiliser used in IEDs

The United States on Monday raised with Pakistan the issue of the use of Improvised Explosive Devices (IEDs) and called upon Pakistan to impose ban on production of fertilisers being used in IEDs. The issue was discussed in a meeting held at the Interior
Published 05 Jul, 2011 12:00am
Afghan goods clearance from Bandar Abbas irks ministry

Afghan goods clearance from Bandar Abbas irks ministry

The ministry of foreign affairs has expressed its concern over the clearance of Afghan transit trade consignments from Iranian port of Bandar Abbas instead of Karachi due to delay in clearance of transit cargo from Pakistani port. In this connection, the
Published 05 Jul, 2011 12:00am
Tribal Jirga for negotiation with militants

Tribal Jirga for negotiation with militants

A grand tribal Jirga held here on Monday demanded of the government to implement the unanimous resolution of the parliament, stop military operation in Fata and negotiate with the militants through Jirgas. The Jirga also demanded trail of those who were
Published 05 Jul, 2011 12:00am
Gold rises as drop to six-week lows sparks buying

Gold rises as drop to six-week lows sparks buying

Gold prices rose 0.6 percent on Monday as investors took advantage of the metal's dip to six-week lows last week to buy into the market and on expectations the euro will extend gains versus the dollar. Spot gold was bid at $1,495.20 an ounce at 1543 GMT,
Published 05 Jul, 2011 12:00am
Gold rebounds in Asia

Gold rebounds in Asia

Gold regained some lost territory from the previous session on Monday supported by a weaker dollar, but easing concern about Greece's debt crisis has diminished gold's appeal as a safe haven in the short term. Gold dipped below the key support level of $1
Published 05 Jul, 2011 12:00am
Funds more gun-shy on commodities after second quarter slump

Funds more gun-shy on commodities after second quarter slump

Fund managers are wary of pumping more money into commodity markets after the sector's biggest quarterly decline since the global financial crisis, but retain a cautiously bullish long-term price outlook. Some funds with exposure to the asset class are ex
Published 05 Jul, 2011 12:00am
Funds more gun-shy on commodities after second quarter slump

Funds more gun-shy on commodities after second quarter slump

Fund managers are wary of pumping more money into commodity markets after the sector's biggest quarterly decline since the global financial crisis, but retain a cautiously bullish long-term price outlook. Some funds with exposure to the asset class are ex
Published 05 Jul, 2011 12:00am
Liffe sugar eases, coffee dips

Liffe sugar eases, coffee dips

London white sugar futures eased in light trading on Monday to levels that were still near four-month highs, underpinned by concerns over the size of top producer Brazil's crop, while coffee reversed early gains and cocoa firmed. Agricultural markets trad
Published 05 Jul, 2011 12:00am
Malaysian palm oil bounces back

Malaysian palm oil bounces back

Malaysian palm oil futures bounced back on Monday from a low last hit in October last year, supported by firm crude prices, although investors expect further weakness due to a higher output cycle in the second half. The benchmark September crude palm oil
Published 05 Jul, 2011 12:00am
Tokyo and Shanghai rubber climb

Tokyo and Shanghai rubber climb

Key Tokyo rubber futures rose 4 percent on Monday, supported by firmness in the oil market, a rally in Shanghai rubber futures and higher stock markets, as concerns on the global economy eased. The benchmark rubber contract on the Tokyo Commodity Exchange
Published 05 Jul, 2011 12:00am
Thai rice price rises

Thai rice price rises

The export price of Thai rice rose on Monday because of the likelihood of aggressive intervention by a new government to push up domestic prices to help farmers, which has already encouraged traders to hoard rice, resulting in tight supply. Benchmark 100
Published 05 Jul, 2011 12:00am
Oil steadies in thin trade

Oil steadies in thin trade

Oil was little changed in paltry trade on Monday as a sixth day of gains in European shares boosted hopes for stronger growth, supporting last week's rise. With ICE Brent crude volume at around one-fifth its 30-day average due to the US Independence Day h
Published 05 Jul, 2011 12:00am
Copper moves higher

Copper moves higher

Copper rose on Monday as market sentiment brightened in the wake of solid US manufacturing data last week, while expectations that emerging market demand will pick up later this year also supported prices in holiday-thinned trade. Benchmark copper on the
Published 05 Jul, 2011 12:00am
Shanghai copper jumps

Shanghai copper jumps

Copper extended gains on Monday during Asian trading hours on a surge of positive sentiment in China as investors speculated whether Beijing would move to further tighten monetary policy this month. Investors were also encouraged by data last week showing
Published 05 Jul, 2011 12:00am
Court summons PCB on Danish Kaneria case

Court summons PCB on Danish Kaneria case

The Sindh High Court on Monday summoned cricket authorities to explain why they have not cleared leg-spinner Danish Kaneria to play after he was released without charge in a spot-fixing case. Kaneria and fellow Essex bowler Mervyn Westfield were arrested
Published 05 Jul, 2011 12:00am
Wozniacki stays at world's No1

Wozniacki stays at world's No1

Denmark's Caroline Wozniacki remains on top of the women's singles rankings, which were released on Monday, in spite of her failure once again to land a Grand Slam title. The 20-year-old has now spent 38 weeks in the number one position but has only ever
Published 05 Jul, 2011 12:00am
Tycoon pumps $77 million into Chinese game

Tycoon pumps $77 million into Chinese game

A Chinese real estate tycoon is to pump $77 million into football in China to invigorate the sport following a series of dismal results for the national team and a damaging graft scandal. Under a three-year deal signed Sunday, Wang Jianlin, chairman of Da
Published 05 Jul, 2011 12:00am
Djokovic takes top spot

Djokovic takes top spot

Wimbledon champion Novak Djokovic was confirmed as the new world number one when the ATP rankings were released on Monday. Djokovic, who beat Rafael Nadal in Sunday's final, was already guaranteed to move ahead of the Spaniard following the Serb's semi-fi
Published 05 Jul, 2011 12:00am
Afghanistan likely to join Pakistan T20

Afghanistan likely to join Pakistan T20

Afghanistan's fast-rising cricket team are likely to feature in Pakistan's domestic Twenty20 event later this year, an official said on Monday. Sultan Rana, director of domestic operations at the Pakistan Cricket Board, said Pakistan was considering a req
Published 05 Jul, 2011 12:00am
Japan play for pole as England need draw to advance

Japan play for pole as England need draw to advance

Japan enter their final Group B match already qualified for the 2011 Women's World Cup quarter-finals and wanting to continue their consistent play while England need at least a draw to move into the final eight. With a perfect six points, the Japanese re
Published 05 Jul, 2011 12:00am
Turkey rocked by nation-wide match-fixing probe

Turkey rocked by nation-wide match-fixing probe

Turkey's soccer establishment was left reeling on Monday by the detention of almost 60 people, including the chairman of champions Fenerbahce, in a major match-fixing investigation. Police launched raids in 15 provinces across Turkey on Sunday morning, se
Published 05 Jul, 2011 12:00am
Russia, Nato clash over Libya campaign

Russia, Nato clash over Libya campaign

Russia and Nato on Monday failed to narrow their differences over the Western air campaign in Libya, as alliance warplanes stepped up their bombing of regime targets. Russian Foreign Minister Sergei Lavrov accused Nato of interpreting a UN resolution in a
Published 05 Jul, 2011 12:00am
Syrian forces kill two, aim to retake Hama

Syrian forces kill two, aim to retake Hama

Syrian security forces killed two anti-regime protesters near Damascus and deployed tanks in a town near Turkey's border, activists said on Monday, as the authorities eyed the recapture of Hama. More than 20 people were arrested on the outskirts of the fl
Published 05 Jul, 2011 12:00am
Ten killed in Iraq attacks

Ten killed in Iraq attacks

Bomb and gun attacks across Iraq on Monday killed at least 10 people and wounded 28, many of them policemen and soldiers, security officials said. In Baghdad's Mansur neighbourhood, three policeman were killed and one wounded by an improvised bomb that al
Published 05 Jul, 2011 12:00am
Ruling party MPs quit Indian parliament

Ruling party MPs quit Indian parliament

Nine ruling Congress party members of India's parliament resigned on Monday to press their demands for a separate state of Telangana, roughly halving the government's majority and heaping more pressure on the beleaguered party. The members giving up their
Published 05 Jul, 2011 12:00am
Qadhafi government says in talks, rebels say he must go

Qadhafi government says in talks, rebels say he must go

The Libyan government said on Monday it was in talks with opposition figures but there seemed little chance of a swift end to the conflict as both sides stuck to entrenched positions on the fate of Muammar Qadhafi. The leader's son Saif al-Islam, in comba
Published 05 Jul, 2011 12:00am
Ben Ali gets 15 years

Ben Ali gets 15 years

A Tunis court on Monday sentenced ousted Tunisian president Zine el Abidine Ben Ali in his absence to 15 years in jail for possession of arms, drugs and archaeological artefacts. In his second trial since fleeing to Saudi Arabia following a popular uprisi
Published 05 Jul, 2011 12:00am
Hackers falsely claim Obama dead on Fox Twitter feed

Hackers falsely claim Obama dead on Fox Twitter feed

Hackers took control of a FoxNews.com Twitter account on Monday and sent six false tweets saying that US President Barack Obama had been shot dead, prompting an investigation by the Secret Service. "Hackers sent out several malicious and false tweets that
Published 05 Jul, 2011 12:00am
South African Airways re-brands planes for Mandela

South African Airways re-brands planes for Mandela

South African Airways on Monday unveiled the first aircraft in its fleet to be branded with the Nelson Mandela Day logo, ahead of the anti-apartheid icon's 93rd birthday. The United Nations has recognised his July 18 birthday as Mandela Day, an event mean
Published 05 Jul, 2011 12:00am
North Korea holds massive rally

North Korea holds massive rally

North Koreans gathered Monday at a massive rally in Pyongyang to denounce the conservative government of South Korean President Lee Myung-bak as a "group of unparalleled traitors." More than 100,000 citizens, soldiers and senior government and army offici
Published 05 Jul, 2011 12:00am
British Prime Minister in Afghanistan as soldier goes missing

British Prime Minister in Afghanistan as soldier goes missing

British Prime Minister David Cameron was forced Monday to scrap a visit to an Afghan town he had held up as an example of improved security after a soldier went missing in the area. International forces have launched a huge manhunt for the British soldier
Published 05 Jul, 2011 12:00am
Afghan fight slowly shifting to east: Petraeus

Afghan fight slowly shifting to east: Petraeus

The outgoing commander of US and Nato forces in Afghanistan said the focus of the war will shift in upcoming months from Taliban strongholds in the south to the porous eastern border with Pakistan where al Qaeda factions and others hold sway.
Published 05 Jul, 2011 12:00am
Heir of Austria's last emperor dies at 98

Heir of Austria's last emperor dies at 98

Otto Habsburg, the heir of Austria's last emperor who had become one of his country's most respected statesmen and a champion of Europe's enlargement, died Monday in Germany at the age of 98. His spokeswoman said in a statement that the man who was once f
Published 05 Jul, 2011 12:00am
Belarus jails protesters

Belarus jails protesters

Belarus on Monday jailed several among the almost 400 protesters arrested in a brutal police crackdown on Independence Day protests against strongman President Alexander Lukashenko's regime. The Vyasna rights group said 210 people were arrested in the cap
Published 05 Jul, 2011 12:00am
Greece blocks Gaza flotilla boat

Greece blocks Gaza flotilla boat

Greek security forces stopped a boat that tried to leave the southern island of Crete on Monday seeking to breach Israel's Gaza Strip sea blockade, activists and authorities said. The coast guard blocked the boat shortly after it set sail without permissi
Published 05 Jul, 2011 12:00am
Two killed in Memphis hotel

Two killed in Memphis hotel

Authorities were investigating Monday after a Memphis police officer and another person were shot to death at a hotel in the middle of the city's entertainment district filled with people celebrating Independence Day. In a news release, police said a susp
Published 05 Jul, 2011 12:00am
Sterling flat

Sterling flat

Sterling erased gains versus the dollar on Monday, as the view the UK economy will continue to struggle knocked the pound from a session high hit after waning concerns about a Greek debt default had prompted short-covering in higher-risk currencies. The p
Published 05 Jul, 2011 12:00am
Australian slips, New Zealand dollar outperforms

Australian slips, New Zealand dollar outperforms

The Australian dollar slipped on Monday after disappointing data bolstered the case for the central bank to stay on the sidelines for longer, while a general rise in risk appetite helped lift the New Zealand currency. The Aussie dollar shed nearly half a
Published 05 Jul, 2011 12:00am
Baht and won jump

Baht and won jump

The Thai baht rose more than 1 percent against the dollar on Monday as Sunday's general election eased worries about the country's political uncertainty, while the South Korean won hit a fresh 34-month high on continuous stock inflows. Interbank speculato
Published 05 Jul, 2011 12:00am
Indian rupee scales two-month high

Indian rupee scales two-month high

The Indian rupee rose to a two-month high on Monday on robust dollar sales from corporates, with gains in local shares and the euro also supporting. The partially convertible rupee ended at 44.4250/44.4350 per dollar, 0.4 percent stronger than Friday's cl
Published 05 Jul, 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 Monday. 74.25/74.29 (previous 74.20/74.24). Call Money Rates: 6.00-10.00 percent (previous 7.25-12.00 percent).
Published 05 Jul, 2011 12:00am
Euro retreats from one-month high on S&P's remarks

Euro retreats from one-month high on S&P's remarks

The euro slipped from one-month highs against the dollar after Standard & Poor's said a debt rollover plan being considered for Greece may put the country into selective default, though expectations for a second Greek bailout kept it underpinned.
Published 05 Jul, 2011 12:00am
Euro pares gains in Asia

Euro pares gains in Asia

The euro pared its gains against the dollar on Monday and pulled back from a one-month high after Standard & Poor's said a debt rollover plan being considered for Greece may put the country into selective default. The euro had hit a one-month high of $1.4
Published 05 Jul, 2011 12:00am
Yuan hits record high

Yuan hits record high

The yuan hit a record high against the dollar on Monday after the People's Bank of China fixed a historically strong mid-point, but the market remained cautious about the pace of yuan appreciation. Dealers said the Chinese currency had the potential to ri
Published 05 Jul, 2011 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc looked poised to reverse course following several sessions of losses against the euro after a ratings agency warned about a Greek debt rollover plan, further pouring cold water on any hopes the Greek saga could be resolved soon. On Monday
Published 05 Jul, 2011 12:00am
Buoyant oil stocks power FTSE past 6,000

Buoyant oil stocks power FTSE past 6,000

Integrated oil stocks helped Britain's top shares end higher on Monday, when gains were limited by weaker banks after Standard & Poor's warned a potential Greek debt deal would amount to a default. The FTSE 100 index rose for a seventh straight day, addin
Published 05 Jul, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose on Monday helped by strong US manufacturing data, sustained foreign buying and firm gains in automakers and brokerages like Hyundai Motor and Woori Investment & Securities . The Korea Composite Stock Price Index ended up 0.92 percent at
Published 05 Jul, 2011 12:00am
Hong Kong and China shares jump on robust volumes

Hong Kong and China shares jump on robust volumes

Hong Kong and China shares moved above their 250-day moving averages in robust turnover on Monday, on anticipation that reduced inflation pressures in the Chinese economy and favourable earnings could sustain a rally that began last week.
Published 05 Jul, 2011 12:00am
Indian shares rise

Indian shares rise

Indian shares edged 0.3 percent higher on Monday, tracking world equities as risk appetite returned after Greece avoided an early default and on signs China's economy was not heading towards a sharp slowdown, but traders maintained a cautious view. Energy
Published 05 Jul, 2011 12:00am
LSE in talks with Sri Lanka over share trading

LSE in talks with Sri Lanka over share trading

The London Stock Exchange is in talks with Sri Lanka's Securities and Exchange Commission over allowing trading of some of the island nation's shares on the London bourse and vice versa, a regulator official said on Monday. An agreement will help Sri Lank
Published 05 Jul, 2011 12:00am
US markets closed

US markets closed

US financial, stocks and commodity markets were closed on Monday (July 4) for Independence Day celebrations. Markets will resume trading on Tuesday (July 5).
Published 05 Jul, 2011 12:00am
Australian shares gain

Australian shares gain

Australian stocks gained 0.4 percent on Monday to hold above the 4,600 mark, helped by stronger metals prices and stronger US factory data that lifted hopes for global growth. Still, shares finished off the day's highs following a round of softer-than-exp
Published 05 Jul, 2011 12:00am
Nikkei climbs above 10,000 mark

Nikkei climbs above 10,000 mark

The Nikkei stock average climbed above 10,000 for the first time in two months on Monday, boosted by buying from Asian investors, but traders said the rally may be short-lived without more signs of stability in major economies.
Published 05 Jul, 2011 12:00am
European shares extend rally to six sessions

European shares extend rally to six sessions

European shares extended a winning run to six sessions on Monday, as worries about Greece receded further, though strategists said wider deficit issues might limit further gains for equities. The FTSEurofirst 300 index of top European shares rose 0.2 perc
Published 05 Jul, 2011 12:00am
South East Asian markets: Thai stocks outpace region on poll fever

South East Asian markets: Thai stocks outpace region on poll fever

Thai stocks jumped nearly five percent on Monday after the opposition Puea Thai party won the weekend general election in a landslide, removing some political uncertainty from the market. The result boosted foreign inflows to $348 million, the biggest so
Published 05 Jul, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended up 0.4 percent at a two-week closing high on Monday, with smartphone maker HTC Corp up 4.46 percent after record monthly sales in June. The main TAIEX index was up 34.9 points at 8,774.72, after opening up 0.71 percent. Fund managers s
Published 05 Jul, 2011 12:00am
S&P fires warning at Greek debt deal

S&P fires warning at Greek debt deal

Ratings agency Standard and Poor's warned Monday that recent efforts to bailout Greece could amount to a debt default even as Brussels sees progress being made in resolving the crisis. S&P said that French proposals to involve private creditor banks in ro
Published 05 Jul, 2011 12:00am
Iran central bank no longer to issue inflation data

Iran central bank no longer to issue inflation data

The Central Bank of Iran will no longer issue monthly inflation data, an Iranian newspaper reported on Monday, saying the job had been delegated to a non-government agency. The change comes at a crucial moment for inflation in Iran, as a phase-out of mass
Published 05 Jul, 2011 12:00am
Volkswagen secures majority stake in MAN

Volkswagen secures majority stake in MAN

Volkswagen AG clinched a 55.9 percent stake in Munich-based truckmaker MAN SE, clearing the way for the carmaker to start building its European truck empire. Volkswagen's majority stake allows it to determine seats on the supervisory board, a way to accel
Published 05 Jul, 2011 12:00am
Global growth slowing but recovery intact: BoJ

Global growth slowing but recovery intact: BoJ

Bank of Japan Governor Masaaki Shirakawa said the world economy continues to recover albeit at a slower pace, taking a slightly more cautious view on global growth as signs of a slowdown spread to emerging economies. But he maintained the central bank's v
Published 05 Jul, 2011 12:00am
Bangladesh buying 165 tanks to carry oil by rail

Bangladesh buying 165 tanks to carry oil by rail

Bangladesh signed a $16.5 million contract with an Indian company Monday to buy 165 tanks it will use to carry oil to power plants by railroad. The deal with India's Texmaco Limited was helped by a $1 billion credit-line agreement between the countries. T
Published 05 Jul, 2011 12:00am
Alcatel announces contract with China Telecom

Alcatel announces contract with China Telecom

Telecommunications group Alcatel-Lucent said on Monday it had been selected by China Telecom to supply multimedia services to 120 million Chinese consumers in six provinces. China Telecom had selected Alcatel-Lucent "to deliver multimedia services to subs
Published 05 Jul, 2011 12:00am
Turkey seizes control of Libyan-Turkish bank

Turkey seizes control of Libyan-Turkish bank

Turkey's banking authorities Monday seized control of Libyan-Turkish bank A&T in line with UN sanctions against the regime of embattled Libyan leader Muammar Qadhafi, an official statement said.
Published 05 Jul, 2011 12:00am
QIB quits Bank Muamalat bid

QIB quits Bank Muamalat bid

Qatar Islamic Bank (QIB) has pulled out of the bidding for a majority stake in Indonesian Islamic lender PT Bank Muamalat, banking sources said, leaving Standard Chartered Plc as the sole remaining bidder. Top shareholders of Indonesia's second-biggest sh
Published 05 Jul, 2011 12:00am
Antwerp diamond industry ties up with China

Antwerp diamond industry ties up with China

The Antwerp diamond industry, world capital of the gem, on Monday announced an investment deal with leading Chinese bank ICBC. The Antwerp World Diamond Centre (AWDC) in a statement announced the deal with ICBC, which could act as an intermediary to provi
Published 05 Jul, 2011 12:00am
Eurozone factory gate prices ease

Eurozone factory gate prices ease

Eurozone producer prices slipped more than expected in May as energy costs eased, data showed on Monday, leading some to predict the ECB will hold off on interest rate rises after an expected hike this week. Prices at factory gates in the 17 countries usi
Published 05 Jul, 2011 12:00am
India's central bank fines Citigroup unit

India's central bank fines Citigroup unit

India's central bank on Monday said it had fined a unit of US banking giant Citigroup $55,000 for flouting guidelines on customer background checks and money laundering. The Reserve Bank of India said it had imposed the 2.5-million-rupee penalty because a
Published 05 Jul, 2011 12:00am
10 percent of European insurers fail stress test

10 percent of European insurers fail stress test

About 10 percent of European insurance companies tested do not have enough capital to withstand exceptional economic shocks, the sector regulator said on Monday. But with a success rate of 90 percent, "overall, the European insurance sector remains robust
Published 05 Jul, 2011 12:00am
Foreign investment in India surges

Foreign investment in India surges

Foreign direct investment in India more than doubled in May, data showed on Monday, after being subdued for months due to concerns over corruption, bureaucratic delays and a lack of economic reform. FDI rose to $4.66 billion in May, the second highest mon
Published 05 Jul, 2011 12:00am
Saboteurs bomb Egypt gas pipeline to Israel, Jordan

Saboteurs bomb Egypt gas pipeline to Israel, Jordan

Saboteurs bombed an Egyptian gas pipeline in the Sinai peninsula on Monday for the third time since February, cutting supplies to Israel and Jordan. Officials said a car had parked near the pipeline in the Bir al-Abd area, 80 kilometres (about 50 miles) f
Published 05 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 253,640 tonnes of cargo including 177,149 tonnes of import cargo, 76,491 tonnes of export cargo and 6,086 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 177,149 tonnes compr
Published 05 Jul, 2011 12:00am
Vietnam raises pepper export forecast to 120,600 tonnes

Vietnam raises pepper export forecast to 120,600 tonnes

Vietnam has raised its pepper export forecast this year by nearly a quarter to 120,600 tonnes, citing rising domestic supplies and export price gains, the Agriculture Ministry said on Monday. The forecast export volume for 2011, up 23 percent from 98,000
Published 05 Jul, 2011 12:00am
Wheat area in Britain up by 1 percent

Wheat area in Britain up by 1 percent

Wheat area in Britain is up a marginal 1 percent while rapeseed showed a more significant 9 percent rise, the Home-Grown Cereals Authority said on Monday issuing results of a planting survey on crops to be harvested this summer.
Published 05 Jul, 2011 12:00am
Vietnam cuts 2011 coffee export forecast to 1.26 million tonnes

Vietnam cuts 2011 coffee export forecast to 1.26 million tonnes

Vietnam has lowered the annual coffee export forecast for calendar 2011 by 3 percent to 1.26 million tonnes, or 21 million bags, based on a low level of stocks in the country, the agriculture ministry said on Monday. The lower projection would not help li
Published 05 Jul, 2011 12:00am
Indonesia's cocoa output may fall to its lowest since 2004

Indonesia's cocoa output may fall to its lowest since 2004

Indonesia, the world's third-largest cocoa producer, may see this year's output fall to its lowest since at least 2004 at 420,000 tonnes due to erratic weather and a fungal disease, the Indonesian Cocoa Association (Askindo) said on Monday. Concerns about
Published 05 Jul, 2011 12:00am
Spot rate down to Rs 7,800; bearish sentiment prevails on cotton market

Spot rate down to Rs 7,800; bearish sentiment prevails on cotton market

Prices continued downward revision on the cotton market on Monday due to low buying interest and sellers were also shy of doing business on the falling rates, dealers said. The Karachi Cotton Association (KCA) official spot rate slide was extended, reduci
Published 05 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was witnessed on the forward cottonseed oilcake market on Monday while the December vaida was unchanged in process of trading, dealers said. The July contract that had last week closed at Ra 1426.30 and it opened with 20 paisa gain at Rs 1426
Published 05 Jul, 2011 12:00am
Rice prices higher on grain market

Rice prices higher on grain market

Rising demand by importers and consumers pushed prices of rice higher on the wholesale grain market on Monday in process of trading, dealers said. On the rice sector Irri-9 Sindh gained Rs 400 to Rs 5100-5200, Basmati No 386 sharply up by Rs 500 to Rs 620
Published 05 Jul, 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 05 Jul, 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 05 Jul, 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 Monday (July 04, 2011).

Published 05 Jul, 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 Monday (July 04, 2011).

Published 05 Jul, 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 Monday (July 04, 2011).

Published 05 Jul, 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 Monday (July 04, 2011).

Published 05 Jul, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (July 04, 2011).
Published 05 Jul, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (July 04, 2011).

Published 05 Jul, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (July 04, 2011).

Published 05 Jul, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (July 04, 2011).
Published 05 Jul, 2011 12:00am
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