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Archive - 2011-07-11
Euro dives on Italy fears
Financial

Euro dives on Italy fears

NEW YORK : The euro fell against the dollar on Monday amid fears that Europe's debt crisis was spreading to Italy, at on
Published 11 Jul, 2011 09:15pm
Eurozone woes hit US stocks
Financial

Eurozone woes hit US stocks

NEW YORK : US stocks plummeted Monday as worry about Europe's worsening debt crisis clouded markets already walloped Fr
Published 11 Jul, 2011 09:03pm
Volkswagen posts record sales
Industry

Volkswagen posts record sales

BERLIN : Germany's Volkswagen group sold a record four million vehicles in the first half of 2011 and hopes to reach the
Published 11 Jul, 2011 08:44pm
Haqqani sees forward movement on US aid
Top News

Haqqani sees forward movement on US aid

WASHINGTON : Ambassador Husain Haqqani voiced hope Monday that a rift over suspension of military aid would not spira
Published 11 Jul, 2011 08:20pm
PPP committed to Kashmir cause: PM
Top News

PPP committed to Kashmir cause: PM

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Monday said the Pakistan Peoples Party was committed to the cause of
Published 11 Jul, 2011 03:23pm
Gold unchanged at Rs42,600
Markets

Gold unchanged at Rs42,600

KARACHI : Gold closed unchanged Rs42,600 per 10 grams in local bullion market Monday, as its international price rem
Published 11 Jul, 2011 02:23pm
Top US, Chinese officers hold talks
Top News

Top US, Chinese officers hold talks

BEIJING : America's top military officer held talks with his Chinese counterpart Monday amid rising tensions in the Sou
Published 11 Jul, 2011 04:50am
Seeking refuge in PIBs
BR Research

Seeking refuge in PIBs

Just like cancer, the persistent power sector circular debt has severely crippled the countrys economy. Battered by structural issues in the
Published 11 Jul, 2011 12:00am
Bye-bye reforms?
BR Research

Bye-bye reforms?

Economic reforms are always a thorny issue, but the current predicament of the country is an entirely new monster. Setting aside the pressur
Published 11 Jul, 2011 12:00am
Investors pet - Gold
BR Research

Investors pet - Gold

Gold can help but shine, especially when major economies of the world are not rising from the doom and gloom. Spurred by weak US jobs data,
Published 11 Jul, 2011 12:00am
Sindh divided into five divisions

Sindh divided into five divisions

After the notification of the Commissionerate system to the government of Sindh by the Federal Government, the provincial government divided the province into five divisions. According to a notification of the Revenue Department issued here on Sunday, the
Published 11 Jul, 2011 12:00am
Sindh divided into five divisions

Sindh divided into five divisions

After the notification of the Commissionerate system to the government of Sindh by the Federal Government, the provincial government divided the province into five divisions. According to a notification of the Revenue Department issued here on Sunday, the
Published 11 Jul, 2011 12:00am
MQM to challenge decision in court

MQM to challenge decision in court

The Muttahida Qaumi Movement (MQM) here on Sunday rejected the commissionerate system in Sindh province and announced that it would challenge it in court, besides protesting in assemblies at provincial and national levels.
Published 11 Jul, 2011 12:00am
MQM to challenge decision in court

MQM to challenge decision in court

The Muttahida Qaumi Movement (MQM) here on Sunday rejected the commissionerate system in Sindh province and announced that it would challenge it in court, besides protesting in assemblies at provincial and national levels.
Published 11 Jul, 2011 12:00am
SECP allows 50 percent margin in futures trading

SECP allows 50 percent margin in futures trading

In a move to increase trading activities and to attract more retail investors' participation, the Securities and Exchange Commission of Pakistan (SECP) has allowed 50 percent initial margins in eligible securities and remaining 50 percent in cash in the D
Published 11 Jul, 2011 12:00am
SECP allows 50 percent margin in futures trading

SECP allows 50 percent margin in futures trading

In a move to increase trading activities and to attract more retail investors' participation, the Securities and Exchange Commission of Pakistan (SECP) has allowed 50 percent initial margins in eligible securities and remaining 50 percent in cash in the D
Published 11 Jul, 2011 12:00am
SECP allows 50 percent margin in futures trading

SECP allows 50 percent margin in futures trading

In a move to increase trading activities and to attract more retail investors'' participation, the Securities and Exchange Commission of Pakistan (SECP) has allowed 50 percent initial margins in eligible securities and remaining 50 percent in cash in the
Published 11 Jul, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

The rupee moved little against dollar on the currency market during the week ended on July 9, 2011. On the interbank market, the rupee managed to retain its levels against dollar for buying and selling at 85.90 and 85.95.
Published 11 Jul, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

The rupee moved little against dollar on the currency market during the week ended on July 9, 2011. On the interbank market, the rupee managed to retain its levels against dollar for buying and selling at 85.90 and 85.95.
Published 11 Jul, 2011 12:00am
US withholds $800 million military aid

US withholds $800 million military aid

The United States is withholding some $800 million in military assistance to Pakistan in a show of displeasure over its cutback on US trainers, limits on visas for US personnel and other bilateral irritants, the Obama administration said on Sunday.
Published 11 Jul, 2011 12:00am
US withholds $800 million military aid

US withholds $800 million military aid

The United States is withholding some $800 million in military assistance to Pakistan in a show of displeasure over its cutback on US trainers, limits on visas for US personnel and other bilateral irritants, the Obama administration said on Sunday.
Published 11 Jul, 2011 12:00am
Army asks US to share intelligence about Zawahiri

Army asks US to share intelligence about Zawahiri

Pakistan asked the United States on Sunday to share 'actionable intelligence' about al Qaeda's new chief, Ayman al-Zawahiri, and other high value targets. The request from the military came after US Defence Secretary Leon Panetta said before his arrival i
Published 11 Jul, 2011 12:00am
Army asks US to share intelligence about Zawahiri

Army asks US to share intelligence about Zawahiri

Pakistan asked the United States on Sunday to share 'actionable intelligence' about al Qaeda's new chief, Ayman al-Zawahiri, and other high value targets. The request from the military came after US Defence Secretary Leon Panetta said before his arrival i
Published 11 Jul, 2011 12:00am
Sindh CNG stations to remain closed for two days

Sindh CNG stations to remain closed for two days

The gas supply to all CNG stations across Sindh will remain suspended for two days effective from 09:00am on Monday (today). According to Sui Southern Gas Company (SSGC), the gas supply to SSGC would drop by 200mmcfd due to annual turnaround of Madenwari
Published 11 Jul, 2011 12:00am
Sindh CNG stations to remain closed for two days

Sindh CNG stations to remain closed for two days

The gas supply to all CNG stations across Sindh will remain suspended for two days effective from 09:00am on Monday (today). According to Sui Southern Gas Company (SSGC), the gas supply to SSGC would drop by 200mmcfd due to annual turnaround of Madenwari
Published 11 Jul, 2011 12:00am
Sindh CNG stations to remain closed for two days

Sindh CNG stations to remain closed for two days

The gas supply to all CNG stations across Sindh will remain suspended for two days effective from 09:00am on Monday (today). According to Sui Southern Gas Company (SSGC), the gas supply to SSGC would drop by 200mmcfd due to annual turnaround of Madenwari
Published 11 Jul, 2011 12:00am
KSE index loses 94 points

KSE index loses 94 points

The KSE-100 index lost 94.05 points and closed at 12,390.12 points during the week ended on July 9, 2011 as the investors opted to offload their holdings due to prevailing political and law and order situation. The average daily volume increased marginall
Published 11 Jul, 2011 12:00am
KSE index loses 94 points

KSE index loses 94 points

The KSE-100 index lost 94.05 points and closed at 12,390.12 points during the week ended on July 9, 2011 as the investors opted to offload their holdings due to prevailing political and law and order situation. The average daily volume increased marginall
Published 11 Jul, 2011 12:00am
KSE index loses 94 points

KSE index loses 94 points

The KSE-100 index lost 94.05 points and closed at 12,390.12 points during the week ended on July 9, 2011 as the investors opted to offload their holdings due to prevailing political and law and order situation. The average daily volume increased marginall
Published 11 Jul, 2011 12:00am
Spreads declined by 11 bps

Spreads declined by 11 bps

The KSE ready futures spreads declined by 11 bps during the week ended on July 8, 2011 to 9.64 percent from previous week's 9.75 percent. Trading at the futures counter improved and the average daily volume increased to 271 million shares, by 16 percent,
Published 11 Jul, 2011 12:00am
Spreads declined by 11 bps

Spreads declined by 11 bps

The KSE ready futures spreads declined by 11 bps during the week ended on July 8, 2011 to 9.64 percent from previous week's 9.75 percent. Trading at the futures counter improved and the average daily volume increased to 271 million shares, by 16 percent,
Published 11 Jul, 2011 12:00am
Spreads declined by 11 bps

Spreads declined by 11 bps

The KSE ready futures spreads declined by 11 bps during the week ended on July 8, 2011 to 9.64 percent from previous week''s 9.75 percent. Trading at the futures counter improved and the average daily volume increased to 271 million shares, by 16 percent,
Published 11 Jul, 2011 12:00am
Egypt's inflation eases slightly in June on food prices

Egypt's inflation eases slightly in June on food prices

Egyptian inflation in the year to June eased slightly on the back of lower food prices from a year earlier, supporting a hold in central bank interest rates in July to support an economy reeling from the impact of the revolt that ousted President Hosni Mu
Published 11 Jul, 2011 12:00am
PPP planned attack on Nine Zero, alleges MQM

PPP planned attack on Nine Zero, alleges MQM

Muttahida Qaumi Movement (MQM) has alleged that one of the Pakistan Peoples' Party's ministers prepared plan to attack MQM's headquarter Nine Zero after meeting with Muttahida Qaumi Movement-Haqiqi leader Afaq Ahmed.
Published 11 Jul, 2011 12:00am
Spanish mortgage defaulters face debt nightmare

Spanish mortgage defaulters face debt nightmare

Inma Rodriguez lost her job, and now that she's defaulted on her mortgage, she's about to lose her home. But the nightmare doesn't end there: Once creditors kick her out, she'll still need to pay back the money she borrowed to buy her hoate bubble.
Published 11 Jul, 2011 12:00am
Strauss-Kahn was 'excellent' IMF head: Lagarde

Strauss-Kahn was 'excellent' IMF head: Lagarde

Dominique Strauss-Kahn was an "excellent" IMF director, his new successor Christine Lagarde said Sunday, but added that the international institution will need time to heal from the recent scandal that forced his resignation
Published 11 Jul, 2011 12:00am
South Asia must fight 'scourge of terrorism': India

South Asia must fight 'scourge of terrorism': India

South Asian nations must make greater efforts to fight terrorism without relying on outside help, Indian Prime Minister Manmohan Singh told a regional conference in New Delhi. Stressing that South Asia could prosper as a whole, Singh said there was a need
Published 11 Jul, 2011 12:00am
South Asia must fight 'scourge of terrorism': India

South Asia must fight 'scourge of terrorism': India

South Asian nations must make greater efforts to fight terrorism without relying on outside help, Indian Prime Minister Manmohan Singh told a regional conference in New Delhi. Stressing that South Asia could prosper as a whole, Singh said there was a need
Published 11 Jul, 2011 12:00am
Interpol issues warrants for Hariri killing suspects

Interpol issues warrants for Hariri killing suspects

Interpol has circulated arrest warrants for four suspects in the 2005 assassination of Lebanese statesman Rafik al-Hariri, UN-backed tribunal said on Sunday. "The tribunal has requested Interpol to notify all states of the arrest warrants, this comes as a
Published 11 Jul, 2011 12:00am
Interpol issues warrants for Hariri killing suspects

Interpol issues warrants for Hariri killing suspects

Interpol has circulated arrest warrants for four suspects in the 2005 assassination of Lebanese statesman Rafik al-Hariri, UN-backed tribunal said on Sunday. "The tribunal has requested Interpol to notify all states of the arrest warrants, this comes as a
Published 11 Jul, 2011 12:00am
Sindh Assembly meets on July 13

Sindh Assembly meets on July 13

The provincial assembly of Sindh will meet on July 13 at 9.00am, Law and Parliamentary Affairs Minister Ayaz Soomro announced on Sunday.
Published 11 Jul, 2011 12:00am
Sindh Assembly meets on July 13

Sindh Assembly meets on July 13

The provincial assembly of Sindh will meet on July 13 at 9.00am, Law and Parliamentary Affairs Minister Ayaz Soomro announced on Sunday.
Published 11 Jul, 2011 12:00am
35 dead, 200 hurt as two trains derail in India

35 dead, 200 hurt as two trains derail in India

Two passenger trains were derailed in separate incidents in India on Sunday, leaving at least 35 people dead and about 200 injured in a day of carnage on the country's railways. In the first accident in the northern state of Uttar Pradesh, a packed train
Published 11 Jul, 2011 12:00am
35 dead, 200 hurt as two trains derail in India

35 dead, 200 hurt as two trains derail in India

Two passenger trains were derailed in separate incidents in India on Sunday, leaving at least 35 people dead and about 200 injured in a day of carnage on the country's railways. In the first accident in the northern state of Uttar Pradesh, a packed train
Published 11 Jul, 2011 12:00am
Three Nato troops die; six abducted Afghans killed

Three Nato troops die; six abducted Afghans killed

A spate of attacks across Afghanistan on Sunday killed three Nato service members, an Afghan government official and three police officers, officials said. Meanwhile, officials said that insurgents have killed six Afghan deminers from a group of 32 that w
Published 11 Jul, 2011 12:00am
Three Nato troops die; six abducted Afghans killed

Three Nato troops die; six abducted Afghans killed

A spate of attacks across Afghanistan on Sunday killed three Nato service members, an Afghan government official and three police officers, officials said. Meanwhile, officials said that insurgents have killed six Afghan deminers from a group of 32 that w
Published 11 Jul, 2011 12:00am
HBL Funds declare final dividends

HBL Funds declare final dividends

The Board of Directors of HBL Asset Management Limited in its meeting held recently declared final dividend for its six funds under management.
Published 11 Jul, 2011 12:00am
HBL Funds declare final dividends

HBL Funds declare final dividends

The Board of Directors of HBL Asset Management Limited in its meeting held recently declared final dividend for its six funds under management.
Published 11 Jul, 2011 12:00am
HBL Funds declare final dividends

HBL Funds declare final dividends

The Board of Directors of HBL Asset Management Limited in its meeting held recently declared final dividend for its six funds under management.
Published 11 Jul, 2011 12:00am
HBL Funds declare final dividends

HBL Funds declare final dividends

The Board of Directors of HBL Asset Management Limited in its meeting held recently declared final dividend for its six funds under management.
Published 11 Jul, 2011 12:00am
World's largest copper producer faces strike

World's largest copper producer faces strike

The world's largest copper producer, Codelco, is facing a 24-hour strike on Monday in opposition to a plan that workers say would move Chile's state-owned mining corporation toward privatisation. The Federation of Copper Workers, which represents 15,000 o
Published 11 Jul, 2011 12:00am
World's largest copper producer faces strike

World's largest copper producer faces strike

The world's largest copper producer, Codelco, is facing a 24-hour strike on Monday in opposition to a plan that workers say would move Chile's state-owned mining corporation toward privatisation. The Federation of Copper Workers, which represents 15,000 o
Published 11 Jul, 2011 12:00am
World''s largest copper producer faces strike

World''s largest copper producer faces strike

The world''s largest copper producer, Codelco, is facing a 24-hour strike on Monday in opposition to a plan that workers say would move Chile''s state-owned mining corporation toward privatisation. The Federation of Copper Workers, which represents 15,000
Published 11 Jul, 2011 12:00am
Foreigners buy $2.309 million shares

Foreigners buy $2.309 million shares

A fresh inflow of $2.309 million of foreign investors portfolio investment (FIPI) was witnessed at the equity market during the week ended on July 8, 2011. According to National Clearing Company of Pakistan Limited (NCCP) data, the cumulative inflow of th
Published 11 Jul, 2011 12:00am
Foreigners buy $2.309 million shares

Foreigners buy $2.309 million shares

A fresh inflow of $2.309 million of foreign investors portfolio investment (FIPI) was witnessed at the equity market during the week ended on July 8, 2011. According to National Clearing Company of Pakistan Limited (NCCP) data, the cumulative inflow of th
Published 11 Jul, 2011 12:00am
Foreigners buy $2.309 million shares

Foreigners buy $2.309 million shares

A fresh inflow of $2.309 million of foreign investors portfolio investment (FIPI) was witnessed at the equity market during the week ended on July 8, 2011. According to National Clearing Company of Pakistan Limited (NCCP) data, the cumulative inflow of th
Published 11 Jul, 2011 12:00am
Blasts at Turkmen arms depot kill 15 people

Blasts at Turkmen arms depot kill 15 people

Explosions killed 15 people at a military depot outside Turkmenistan's capital, Ashgabat, last week, a special government commission reported on Sunday, breaking days of official silence. Residents in Ashgabat said they heard several blasts from Abadan, a
Published 11 Jul, 2011 12:00am
Blasts at Turkmen arms depot kill 15 people

Blasts at Turkmen arms depot kill 15 people

Explosions killed 15 people at a military depot outside Turkmenistan's capital, Ashgabat, last week, a special government commission reported on Sunday, breaking days of official silence. Residents in Ashgabat said they heard several blasts from Abadan, a
Published 11 Jul, 2011 12:00am
CAA budget and ADP for 2011-12 approved

CAA budget and ADP for 2011-12 approved

The 138th meeting of CAA Board held on Saturday at the Headquarters of Civil Aviation Authority, Karachi. The Board meeting was chaired by Lieutenant-General Syed Athar Ali (Retd), Secretary Defence/Chairman CAA Board. The CAA Board discussed various CAA
Published 11 Jul, 2011 12:00am
CAA budget and ADP for 2011-12 approved

CAA budget and ADP for 2011-12 approved

The 138th meeting of CAA Board held on Saturday at the Headquarters of Civil Aviation Authority, Karachi. The Board meeting was chaired by Lieutenant-General Syed Athar Ali (Retd), Secretary Defence/Chairman CAA Board. The CAA Board discussed various CAA
Published 11 Jul, 2011 12:00am
CAA budget and ADP for 2011-12 approved

CAA budget and ADP for 2011-12 approved

The 138th meeting of CAA Board held on Saturday at the Headquarters of Civil Aviation Authority, Karachi. The Board meeting was chaired by Lieutenant-General Syed Athar Ali (Retd), Secretary Defence/Chairman CAA Board. The CAA Board discussed various CAA
Published 11 Jul, 2011 12:00am
US military chief says to maintain Asia presence

US military chief says to maintain Asia presence

The United States is committed to maintaining its military presence in Asia, its top military official said in China on Sunday, adding that Washington was worried disputes in the resource-rich South China Sea could lead to serious conflict.
Published 11 Jul, 2011 12:00am
US military chief says to maintain Asia presence

US military chief says to maintain Asia presence

The United States is committed to maintaining its military presence in Asia, its top military official said in China on Sunday, adding that Washington was worried disputes in the resource-rich South China Sea could lead to serious conflict.
Published 11 Jul, 2011 12:00am
Last edition of News of the World sells fast in London

Last edition of News of the World sells fast in London

When Rupert Murdoch, his media empire under fire over a phone-hacking scandal, swept into his London headquarters on Sunday from the United States, the message was clear. Murdoch, sporting a white panama-style hat, sat in the front passenger seat of a red
Published 11 Jul, 2011 12:00am
Last edition of News of the World sells fast in London

Last edition of News of the World sells fast in London

When Rupert Murdoch, his media empire under fire over a phone-hacking scandal, swept into his London headquarters on Sunday from the United States, the message was clear. Murdoch, sporting a white panama-style hat, sat in the front passenger seat of a red
Published 11 Jul, 2011 12:00am
Free medical camp held in Fata

Free medical camp held in Fata

A 5-day free medical camp mobile hospital was held in various areas of Mohmand Agency under the aegis of the Directorate of Health Fata. More than a thousand patients with different diseases were treated in the camp besides free distribution of medicines.
Published 11 Jul, 2011 12:00am
Ansar Burney may become new Sindh Governor

Ansar Burney may become new Sindh Governor

President Asif Ali Zardari is likely to announce the independent and non-political Governor of Sindh province within the next two weeks, to run the affairs of Sindh. It has learnt here from most reliable sources that the top leadership has indicated to ac
Published 11 Jul, 2011 12:00am
'Model Sasta Bazar' on July 15

'Model Sasta Bazar' on July 15

In order to facilitate the consumers during the holy month of Ramazan, the City District Government Rawalpindi (CDGR) will start 'Sasta Model Bazaar' from July 15 and ensure provision of high quality daily use items on controlled prices to the consumers.
Published 11 Jul, 2011 12:00am
US looks east to Pakistan border for Afghan endgame

US looks east to Pakistan border for Afghan endgame

The US-led military campaign in Afghanistan is shifting its focus from Taliban strongholds in the south to the Pakistani border, where troops will likely fight until 2014. With Nato forces on deadline to end their combat mission within three years, coalit
Published 11 Jul, 2011 12:00am
Spirit of Swat festival conveys message of peace: Major Naeem

Spirit of Swat festival conveys message of peace: Major Naeem

Spirit of Swat festival men table tennis got under way at the indoor hall of the Makan Bagh Sports Complex, Mingora, Swat on Sunday. Major Naeem was the chief guest on this occasion who formally inaugurated the event in which 50 players from Malakand Divi
Published 11 Jul, 2011 12:00am
Population growth: President urges stakeholders to meet challenges

Population growth: President urges stakeholders to meet challenges

President Asif Ali Zardari urged all stakeholders including civil society, NGOs, provincial governments and individuals to put the country on path of progress and prosperity through co-ordinated efforts in meeting challenges of population growth.
Published 11 Jul, 2011 12:00am
'UK, European countries should support Pak-India talks'

'UK, European countries should support Pak-India talks'

Former AJK Prime Minister and Head of Election Campaign, PPP, Azad Kashmir, Barrister Sultan Mehmood Chaudhry said on Sunday that there were some positives aspects in the Pak-India talks as both the countries were engaged to discuss all the outstanding is
Published 11 Jul, 2011 12:00am
CDA to demolish illegal constructions on nullahs

CDA to demolish illegal constructions on nullahs

The Capital Development Authority (CDA) will start demolishing illegal constructions on the banks of nullahs from Monday to save slum dwellers from any emergency situation during monsoon season.
Published 11 Jul, 2011 12:00am
BoP begins issuing forms for yellow cab scheme

BoP begins issuing forms for yellow cab scheme

Member National Assembly (MNA) Malik Shakil Awan on Sunday said that Bank of Punjab(BoP) has started issuing forms for yellow cab scheme launched for youth. Talking to APP, Shakil said the government of Punjab would distribute 20,000 yellow cabs to the un
Published 11 Jul, 2011 12:00am
Wattoo rules out mid-term elections

Wattoo rules out mid-term elections

Federal Minister for Kashmir Affairs Mian Manzoor Ahmed Wattoo on Sunday, terming the demand of mid-term elections wishful thinking, said that general elections would be held in 2013 in the country.
Published 11 Jul, 2011 12:00am
Patient category system introduced

Patient category system introduced

Patient category system has been introduced in emergency department of Services Hospital with the objective to provide prompt and immediate medical aid to patient in serious condition. The most serious patients will be tagged in A category after which the
Published 11 Jul, 2011 12:00am
Names of seven members of DZCF approved

Names of seven members of DZCF approved

Provincial Zakat Council Punjab (PZCP) approved the names of seven members of District Zakat Committee Faisalabad (DZCF) including two lady members. This was decided in the 132nd meeting of the Provincial Zakat Council Punjab held under the chairmanship o
Published 11 Jul, 2011 12:00am
Pleasant weather attracts citizens to parks

Pleasant weather attracts citizens to parks

The weather in the provincial metropolis turned pleasant after clouds covered the sky on Sunday forced people to go out to enjoy it. After the pleasant change thousands of the fun seekers preferred to leave houses and throng the city gardens and parks. Th
Published 11 Jul, 2011 12:00am
'Textile industry faces gas loadshedding first time during summer'

'Textile industry faces gas loadshedding first time during summer'

All Pakistan Bedsheet and Upholstry Manufacturers Association (APBUMA) Chairman Khawaja Jalaluddin Roomi has said that the textile industry in Punjab is desperately seeking five days a week gas supply from July 10 onwards-as promised by the Federal Minist
Published 11 Jul, 2011 12:00am
Call to propagate message of peace, unity, brotherhood

Call to propagate message of peace, unity, brotherhood

Capital City Police Officer (CCPO), Ahmad Raza Tahir, has called upon Ulema to propagate message of peace, unity and brotherhood among their followers to defeat the nefarious aims of anti-state elements. He said Ulema can play a leading role in maintenanc
Published 11 Jul, 2011 12:00am
Government urged to execute Pak-Iran gas pipeline project

Government urged to execute Pak-Iran gas pipeline project

The Multan Chamber of Commerce and Industry (MCCI) on Sunday urged the government to execute Iran-Pakistan gas pipeline as early as possible in order to run wheel of the industry. "The country is facing gas scarcity mainly because household consumption of
Published 11 Jul, 2011 12:00am
Inappropriate preservation may cause damage to wheat

Inappropriate preservation may cause damage to wheat

Inappropriate preservation may cause damage to the wheat during current monsoon season, as 2.5 million tonnes of the commodity is lying in open spaces. Director Food Najam Ahmad Shah told APP here Sunday that Punjab government had procured 3.2 million ton
Published 11 Jul, 2011 12:00am
Ahead of Ramazan: Chicken prices shoot up

Ahead of Ramazan: Chicken prices shoot up

Prices of daily-use items, particularly meat, are going up on a daily basis ahead of the holy month of Ramazan. Citizens told APP here on Saturday that hike in prices before Ramazan had become a routine. Some two or three weeks back, the price of chicken
Published 11 Jul, 2011 12:00am
KASB Bank sets up 104 branches in 42 cities

KASB Bank sets up 104 branches in 42 cities

KASB Bank is now serving through 104 branches in 42 cities of Pakistan, offering unique and innovative financial solutions to a large portfolio of investment, corporate and consumer banking customers KASB acting President Munir Saleem said here on Sunday.
Published 11 Jul, 2011 12:00am
PGMI announces schedule of interviews

PGMI announces schedule of interviews

Post Graduate Medical Institute (PGMI) Lahore has announced the schedule of interviews for the 2011-12 academic session admissions. Over 1,000 doctors from the whole country have submitted their applications for specialisation in 47 diploma and degree cou
Published 11 Jul, 2011 12:00am
Violent clashes at Bangladesh religious protests

Violent clashes at Bangladesh religious protests

Police in Bangladesh fired rubber bullets and tear gas on Sunday at thousands of Islamic activists demonstrating for the restoration of a religious pledge to the nation's constitution. Scores of demonstrators and police officers were injured during anti-g
Published 11 Jul, 2011 12:00am
India's richest man attacks Western charity ethos

India's richest man attacks Western charity ethos

India's wealthiest man Mukesh Ambani on Sunday criticised Western philanthropy as counter-productive and said his own country's approach to charity gave more self-respect to the needy. Ambani, who heads petrochemical giant Reliance Industries, said that r
Published 11 Jul, 2011 12:00am
Qadhafi forces shell rebels south of Libyan capital

Qadhafi forces shell rebels south of Libyan capital

Forces loyal to Libyan leader Muammar Qadhafi let loose a heavy artillery bombardment on Sunday to try to push back rebel fighters who had taken a village about 100 km (60 miles) south of Tripoli. Al-Qawalish is a strategic battleground in the rebels' mar
Published 11 Jul, 2011 12:00am
Egyptian frustrations with army, government mount

Egyptian frustrations with army, government mount

Egyptian activists vowed on Sunday to stay camped in Cairo's Tahrir Square, accusing the army rulers of failing to sweep out corruption, end the use of military courts and swiftly try those who killed protesters. Anger has been rising against what many Eg
Published 11 Jul, 2011 12:00am
Israel deports 36 activists, 82 still held

Israel deports 36 activists, 82 still held

Israel on Sunday deported 36 pro-Palestinian activists who were taken into custody after flying into Israel for protests over the weekend, an official said. Two other activists were deported overnight, leaving 82 still in Israeli custody awaiting flights
Published 11 Jul, 2011 12:00am
After the party, South Sudan prays for its future

After the party, South Sudan prays for its future

Volunteers cleared away the rubbish and worshippers offered prayers for its future on Sunday, after South Sudan was feted by world leaders as it celebrated independence and began the tough task of nation building. Churches in the capital were packed with
Published 11 Jul, 2011 12:00am
Eight dead in Yemen as US envoy presses Saleh to go

Eight dead in Yemen as US envoy presses Saleh to go

Eight people were killed in southern Yemen in two separate incidents on Sunday as US President Barack Obama's top counterterrorism official met President Ali Abdullah Saleh to urge him to hand over power quickly.
Published 11 Jul, 2011 12:00am
Syria starts 'dialogue' talks without opposition

Syria starts 'dialogue' talks without opposition

Syria's main opposition groups boycotted talks on national dialogue on Sunday but Vice President Farouq al-Shara said the country, which is facing months of unrest, has no alternative to dialogue.
Published 11 Jul, 2011 12:00am
New US defence chief in Iraq, to press on drawdown

New US defence chief in Iraq, to press on drawdown

Leon Panetta arrived in Iraq on Sunday on his first trip there as US defence secretary, saying he would press Baghdad on the future US military presence and go after militants attacking US forces with Iranian rockets.
Published 11 Jul, 2011 12:00am
New Australian law to make Muslims lift veils

New Australian law to make Muslims lift veils

Muslim women would have to remove veils and show their faces to police on request or risk a prison sentence under proposed new laws in Australia's most populous state that have drawn criticism as culturally insensitive.
Published 11 Jul, 2011 12:00am
17 killed during security operation in Nigeria

17 killed during security operation in Nigeria

A military official on Sunday said that 17 people, including a 13-year-old boy, were killed during a military and police operation against a radical Muslim sect in Nigeria's restive north-east.
Published 11 Jul, 2011 12:00am
Mass grave with 222 bodies found in Iraq

Mass grave with 222 bodies found in Iraq

The remains of 222 people, probably Kurds killed under Iraq's former regime in 1987, were extracted from a mass grave south of Baghdad, the authorities said on Sunday. "We have found 222 bodies and we have transferred them to the morgue in the province of
Published 11 Jul, 2011 12:00am
Atlantis docks at space station for last time

Atlantis docks at space station for last time

The shuttle Atlantis docked at the orbiting International Space Station for one last hitch-up Sunday, on its final space voyage before the entire 30-year US shuttle program shuts down for good.
Published 11 Jul, 2011 12:00am
Takefuji customers file plan to recover debt

Takefuji customers file plan to recover debt

Customers of Takefuji presented a plan on Friday to recover the debt that the bankrupt Japanese consumer lender owes them, saying they want members of the founding family to inject money into Takefuji to help repay creditors.
Published 11 Jul, 2011 12:00am
Takefuji customers file plan to recover debt

Takefuji customers file plan to recover debt

Customers of Takefuji presented a plan on Friday to recover the debt that the bankrupt Japanese consumer lender owes them, saying they want members of the founding family to inject money into Takefuji to help repay creditors.
Published 11 Jul, 2011 12:00am
Euro to retain gains made versus dollar in next 12 months

Euro to retain gains made versus dollar in next 12 months

The euro should hold on to recent gains made against the dollar over the next 12 months, underpinned by higher interest rates while the currency union's sovereign debt crisis continues to rage, a Reuters poll showed.
Published 11 Jul, 2011 12:00am
Investors brace for profit-taking in Tokyo next week

Investors brace for profit-taking in Tokyo next week

Investors are bracing for profit-taking in Tokyo next week after the Nikkei index reached its highest level since the March 11 quake and tsunami disaster, dealers said Friday. "We see some signs that Japanese shares are overheating a bit," said Katsuhiro
Published 11 Jul, 2011 12:00am
China's yuan to rise four percent over coming year

China's yuan to rise four percent over coming year

The Chinese yuan will rise 4 percent against the dollar in the coming 12 months, making it the strongest performer among the BRIC country currencies, according to the latest Reuters poll. As the Chinese economy expands with rising foreign exchange reserve
Published 11 Jul, 2011 12:00am
China's Communications Construction delays $3 billion IPO

China's Communications Construction delays $3 billion IPO

China Communications Construction Co Ltd, the state-controlled builder, has delayed a plan to raise up to 20 billion yuan ($3 billion) via a Shanghai listing due to volatile market conditions, the company said on Friday.
Published 11 Jul, 2011 12:00am
China's Communications Construction delays $3 billion IPO

China's Communications Construction delays $3 billion IPO

China Communications Construction Co Ltd, the state-controlled builder, has delayed a plan to raise up to 20 billion yuan ($3 billion) via a Shanghai listing due to volatile market conditions, the company said on Friday.
Published 11 Jul, 2011 12:00am
US Treasury market wilts as Fed waves goodbye

US Treasury market wilts as Fed waves goodbye

The Federal Reserve's $600 billion Treasury buying spree is over and the bond market is growing nervous now that its biggest bidder has stepped aside.
Published 11 Jul, 2011 12:00am
US Treasury market wilts as Fed waves goodbye

US Treasury market wilts as Fed waves goodbye

The Federal Reserve's $600 billion Treasury buying spree is over and the bond market is growing nervous now that its biggest bidder has stepped aside.
Published 11 Jul, 2011 12:00am
Wall Street heads into earnings season

Wall Street heads into earnings season

Wall Street heads into earnings season next week playing a typical game: Worrying about results a lot, and then rallying on pleasant surprises.
Published 11 Jul, 2011 12:00am
Longer wait for a weaker yen as US struggles

Longer wait for a weaker yen as US struggles

The prospects for a significant depreciation in the safe-haven Japanese yen have dimmed in tandem with the US economic outlook, according to the latest Reuters poll of top foreign exchange strategists.
Published 11 Jul, 2011 12:00am
Money market funds losing safe haven allure

Money market funds losing safe haven allure

Money market funds may be losing their safe-haven status as worries about banking sector exposures compound near-zero interest rate returns, leading to a third year of capital outflows. Shocks this year including Arab world unrest and Japan's earthquake,
Published 11 Jul, 2011 12:00am
Santander UK IPO unlikely to kick off soon

Santander UK IPO unlikely to kick off soon

Santander said it was unlikely to kick off the listing of its British arm any time soon due to difficult market conditions, indicating one of the biggest planned UK flotations will be delayed until next year.
Published 11 Jul, 2011 12:00am
Santander UK IPO unlikely to kick off soon

Santander UK IPO unlikely to kick off soon

Santander said it was unlikely to kick off the listing of its British arm any time soon due to difficult market conditions, indicating one of the biggest planned UK flotations will be delayed until next year.
Published 11 Jul, 2011 12:00am
Samsonite increases IPO to $1.3 billion with over-allotment

Samsonite increases IPO to $1.3 billion with over-allotment

Samsonite International SA, the world's largest luggage maker, increased its Hong Kong initial public offering by $46 million to nearly $1.3 billion, after underwriters exercised an option to sell additional shares to meet demand for the stock.
Published 11 Jul, 2011 12:00am
Samsonite increases IPO to $1.3 billion with over-allotment

Samsonite increases IPO to $1.3 billion with over-allotment

Samsonite International SA, the world's largest luggage maker, increased its Hong Kong initial public offering by $46 million to nearly $1.3 billion, after underwriters exercised an option to sell additional shares to meet demand for the stock.
Published 11 Jul, 2011 12:00am
Iraqi farmers block Iran border post

Iraqi farmers block Iran border post

Dozens of Iraqi farmers on Sunday blocked a border crossing with Iran in protest at its diversion of a river which helps to irrigate one of their country's main agricultural regions. The protesters blocked the entry of nine busloads of Iranian pilgrims fr
Published 11 Jul, 2011 12:00am
Iran to spend $18 billion on south oil to 2015

Iran to spend $18 billion on south oil to 2015

Iran plans to invest $18 billion by 2015 to boost output the oil-rich south and expects its Yadavaran field to start production in a few months, the Iranian Oil Ministry's website Shana said on Sunday.
Published 11 Jul, 2011 12:00am
Qantas to make cuts to international services

Qantas to make cuts to international services

Australia's Qantas Airways will make cuts to its loss-making international operations under a new business strategy to be announced next month, chief executive Alan Joyce said in an interview.
Published 11 Jul, 2011 12:00am
Porsche car sales jump 36 percent

Porsche car sales jump 36 percent

German sports carmaker Porsche has sold 60,650 cars in the first six months of the year, a 36 percent increase on a year ago, sales chief Bernhard Maier told news agency dpa. He also confirmed Porsche expects to reach annual sales of over 100,000 for the
Published 11 Jul, 2011 12:00am
EU calls emergency meeting as debt crisis stalks Italy

EU calls emergency meeting as debt crisis stalks Italy

European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the eurozone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region's third largest economy.
Published 11 Jul, 2011 12:00am
Iraq and Shell to sign $12 billion gas deal

Iraq and Shell to sign $12 billion gas deal

Iraq will sign a final contract with Royal Dutch Shell on Tuesday for a $12-billion project to capture flared gas at southern oil-fields, two sources close to the deal said on Sunday. Iraq's oil ministry, Shell, and Japanese project partner Mitsubishi hav
Published 11 Jul, 2011 12:00am
Debt is global, not European problem: Trichet

Debt is global, not European problem: Trichet

The tax row in the United States demonstrates that the sovereign debt crisis is not just a European problem but a global one, European Central Bank President Jean Claude Trichet said on Sunday.
Published 11 Jul, 2011 12:00am
US 'not going to default': Geithner

US 'not going to default': Geithner

The United States is "not going to default," Treasury Secretary Timothy Geithner said Sunday, warning Republicans there was "no alternative" to making a budget deal with the White House. If President Barack Obama and his Republican foes in Congress fail t
Published 11 Jul, 2011 12:00am
Lagarde warning on US debt default

Lagarde warning on US debt default

New IMF chief Christine Lagarde warned Sunday that a US debt default would jeopardise global economic stability and urged warring American politicians to forge a compromise budget deal.
Published 11 Jul, 2011 12:00am
China's trade surplus expands to $22.27 billion

China's trade surplus expands to $22.27 billion

China's politically sensitive trade surplus expanded to $22.27 billion in June, rising sharply from the previous month as the value of exports hit a record high, government data showed Sunday. The trade surplus - a major point of tension for China's key t
Published 11 Jul, 2011 12:00am
China granting Venezuela $4 billion loan: Chavez

China granting Venezuela $4 billion loan: Chavez

President Hugo Chavez announced a new $4 billion loan from China and discussed his health in a televised appearance Saturday, saying he is exercising each morning as part of a strict regime while recovering from cancer surgery. Chavez said the latest loan
Published 11 Jul, 2011 12:00am
Australia steps up climate fight, unveils sweeping carbon plan

Australia steps up climate fight, unveils sweeping carbon plan

Australia unveiled its most sweeping economic reform in decades on Sunday with a plan to tax carbon emissions from the nation's worst polluters, reviving hopes of stronger global climate action with the largest emissions trade scheme outside Europe.
Published 11 Jul, 2011 12:00am
Swiss president says relations with EU difficult

Swiss president says relations with EU difficult

Switzerland's president said on Sunday the European Union was mainly interested in securing tax money without offering Switzerland fair conditions, such as better access to the EU market, in return.
Published 11 Jul, 2011 12:00am
Japan tells Asean nations its economy recovering fast

Japan tells Asean nations its economy recovering fast

Japan's Trade Minister Banri Kaieda told Asean member nations that Japan's economy was recovering at a quicker pace than initially expected from the devastating March 11 earthquake and tsunami, Kyodo news agency reported.
Published 11 Jul, 2011 12:00am
BCCI has anti-Pakistan agenda: Ehsan Mani

BCCI has anti-Pakistan agenda: Ehsan Mani

Former International Cricket Council (ICC) chief Ehsan Mani has said that the Board of Control for Cricket in India (BCCI) has anti-Pakistan agenda. "The proof (for that) is very much in front of us. The BCCI has been very active in that. They did not all
Published 11 Jul, 2011 12:00am
USA beat Brazil on penalties to reach semi-finals

USA beat Brazil on penalties to reach semi-finals

Two-time winners the USA beat Brazil 5-3 on penalties in dramatic fashion to advance to the semi-finals of the women's World Cup on Sunday after the tie had been locked 2-2 in extra time. US defender Alex Krieger hit the winning penalty after her goalkeep
Published 11 Jul, 2011 12:00am
Hameed eyeing for a return to Pakistan cricket team

Hameed eyeing for a return to Pakistan cricket team

Out-of-favour Test batsman Yasir Hameed is hoping for a come-back to the Pakistan cricket team after having paid a fine and served a ban for a breach of code of conduct on the England tour last year.
Published 11 Jul, 2011 12:00am
Blatter vows life bans for match-fixers

Blatter vows life bans for match-fixers

FIFA president Sepp Blatter has vowed a life ban for any players, coaches or referees implicated in match fixing or irregular betting. "The solution we have is to suspend all these people for life, whether they be players, coaches or referees," said Blatt
Published 11 Jul, 2011 12:00am
Everyone's a winner as Korean event rained off

Everyone's a winner as Korean event rained off

Torrential rain played spoilsport and allowed just full one round of play at a golf tournament in South Korea, leaving all 153 players winners - of sorts, organisers said on Sunday. Only three players completed their second rounds at the Charity High-1 Re
Published 11 Jul, 2011 12:00am
China's Liu sets new Asian Championships record

China's Liu sets new Asian Championships record

Chinese star hurdler Liu Xiang set a new Asian Athletics Championships record in the 110-metre hurdles on Sunday in Kobe to successfully defend his title with something to spare.
Published 11 Jul, 2011 12:00am
Sanchez wins ninth stage, Voeckler in yellow

Sanchez wins ninth stage, Voeckler in yellow

Luis Leon Sanchez, riding for Rabobank, won the Tour de France ninth stage, a 208 km run from Issoire to Saint-Flour on Sunday. French rider Thomas Voeckler finished in second to take possession of the overall leader's yellow jersey. His compatriot Sandy
Published 11 Jul, 2011 12:00am
Umar Akmal says he has become more responsible batsman now

Umar Akmal says he has become more responsible batsman now

Explosive young batsman, Umar Akmal feels that he has become a more responsible cricketer as the ongoing fast track camp of Pakistan Cricket Board (PCB) has helped him overcome flaws in his batting. "The coaching we have got in the camp has helped a lot,"
Published 11 Jul, 2011 12:00am
Team for Olympics should be finalised soon: Hasan Sardar

Team for Olympics should be finalised soon: Hasan Sardar

Pakistan's former legendary hockey player Hasan Sardar believes that Pakistan Hockey Federation (PHF) should select the team for Olympics 2012 soon after the conclusion of team's ongoing European tour. "They (PHF) should finalise the team for Olympics soo
Published 11 Jul, 2011 12:00am
West Indies set India 180 to win third Test

West Indies set India 180 to win third Test

Part-time off-spinner Suresh Raina claimed the last two West Indies wickets, leaving India to chase 180 for victory from a minimum of 47 overs in the third Test on Sunday. Raina finished with 2-32 from 15.3 overs as West Indies were bowled out for 322 in
Published 11 Jul, 2011 12:00am
Agassi inducted into Hall of Fame

Agassi inducted into Hall of Fame

Andre Agassi was inducted into the International Tennis Hall of Fame on Saturday, almost five years after he retired from the game. A former world number one who captured eight grand slam singles titles, Agassi was enshrined at a ceremony in Newport, Rhod
Published 11 Jul, 2011 12:00am
Liverpool hint at Anfield stadium exit

Liverpool hint at Anfield stadium exit

Liverpool paved the way for a move away from their Anfield stadium on Sunday, when they released a statement saying it was "increasingly unlikely" they could refurbish their home of 119 years. Anfield currently holds around 45,000 fans, significantly less
Published 11 Jul, 2011 12:00am
Couple becomes first to get married at Barcelona stadium

Couple becomes first to get married at Barcelona stadium

Barcelona fans Iban Anglada and Sigrid Sans have become the first couple to hold their wedding at the European Champions' Camp Nou stadium. Anglada, a former ice hockey player with the club, and Sans tied the knot before 260 guests on Saturday at the 98,7
Published 11 Jul, 2011 12:00am
Sumo tries to bury murky past

Sumo tries to bury murky past

Sumo held its first full tournament in six months Sunday following a hugely damaging bout-fixing scandal that infuriated the public and forced the resignations of 22 wrestlers and one stablemaster. The 15-day showpiece comes after the Japan Sumo Associati
Published 11 Jul, 2011 12:00am
State oil firms hold keys to access for private sector

State oil firms hold keys to access for private sector

State-owned oil companies are a rising force in the global energy sector as private rivals such as BP and Total seek access to new supplies and push to expand their markets. More than half of the world's top energy firms, 28 out of 50, are fully state-own
Published 11 Jul, 2011 12:00am
AirAsia's chief looking for more planes

AirAsia's chief looking for more planes

Less than two weeks after giving Airbus Industries a record-breaking $18 billion order for 200 aircraft, AirAsia Chief Tony Fernandes has even bigger plans for his budget airline, already Asia's largest. The 47-year-old Malaysian told Reuters he saw AirAs
Published 11 Jul, 2011 12:00am
ArcelorMittal sees Kazakh unit buoyed by CIS demand

ArcelorMittal sees Kazakh unit buoyed by CIS demand

ArcelorMittal, the world's No 1 steelmaker, said it would invest up to $450 million a year in its operations in Kazakhstan until 2015-16 as it expects other ex-Soviet states to raise demand for the metal. ArcelorMittal owns a steel plant in the central Ka
Published 11 Jul, 2011 12:00am
Dow Chemical, Ube form electrolyte joint venture

Dow Chemical, Ube form electrolyte joint venture

Dow Chemical Co formed a joint venture with Japan's Ube Industries Ltd to produce electrolytes for lithium ion batteries, the companies said on July 06. The joint venture, Advanced Electrolyte Technologies LLC, will build a plant in Michigan in 2012 to pr
Published 11 Jul, 2011 12:00am
UBS aims to raise assets in Asia ultra-rich business

UBS aims to raise assets in Asia ultra-rich business

Swiss bank UBS aims to increase the assets under management of its ultra-high net worth business in Asia-Pacific by 10 to 20 percent from the current $90 billion in three to five years, the head of the Asian business said on July 07.
Published 11 Jul, 2011 12:00am
Temasek says net profit more than doubles

Temasek says net profit more than doubles

Singapore's state-linked investment firm Temasek Holdings said on July 07 that its net profit more than doubled in the year to March while the value of its global portfolio hit a record high. Net profit for the year ended March 31 totalled Sg$13 billion (
Published 11 Jul, 2011 12:00am
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