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Archive - 2011-07-14
South Sudan becomes newest member of UN
Top News

South Sudan becomes newest member of UN

UNITED NATIONS: South Sudan Thursday became the newest member of the United Nations, as it was welcomed into the world'
Published 14 Jul, 2011 11:26pm
US stocks dip on debt worries
Financial

US stocks dip on debt worries

NEW YORK : US stocks fell Thursday as the market worried about a possible US debt default if Congress fails to act soon
Published 14 Jul, 2011 09:52pm
Fitch downgrades five Greek banks
Top News

Fitch downgrades five Greek banks

ATHENS : Fitch rating agency said Friday it had downgraded one notch the notation for Greece's five leading banks to "B-
Published 14 Jul, 2011 08:46pm
Citigroup profit surges in Q2
Top News

Citigroup profit surges in Q2

NEW YORK : US banking giant Citigroup on Friday posted a strong rise in second-quarter profit, as falling credit losses
Published 14 Jul, 2011 08:45pm
Colombian peso hits 3yr high
Financial

Colombian peso hits 3yr high

BOGOTA : The Colombian peso on Thursday hit its strongest level against the US dollar since July 2008 due to expectation
Published 14 Jul, 2011 04:37pm
Ghana unveils supplementary budget 2011
Top News

Ghana unveils supplementary budget 2011

DAKAR : Ghana 's Finance Minister Kwabena Duffuor on Thursday requested parliament's approval for 1.46 billion cedis of
Published 14 Jul, 2011 04:02pm
European stocks close lower
Financial

European stocks close lower

LONDON : European stock markets closed lower on Thursday, with London 's benchmark FTSE 100 index of top shares down 1.
Published 14 Jul, 2011 03:42pm
EU, Canada trade pact
Top News

EU, Canada trade pact

BRUSSELS : Talks about a free-trade pact between Europe and Canada stalled this week as negotiators disagreed on how
Published 14 Jul, 2011 03:32pm
Forex reserves at $18.107bn
Top News

Forex reserves at $18.107bn

KARACHI : The foreign exchange reserves have declined by dollars 140 million to dollars 18.107 billion, according to a s
Published 14 Jul, 2011 02:09pm
Global food inflation to return
Top News

Global food inflation to return

CHICAGO : Red-hot food inflation that has vexed policy makers around the world seemed to take a breather last month, whe
Published 14 Jul, 2011 01:06pm
Niger hands gold licences to Canadian
Top News

Niger hands gold licences to Canadian

NIAMEY : Niger has awarded a total of six gold exploration licences to two Canadian firms, Cassidy Gold Corp and AMI R
Published 14 Jul, 2011 12:51pm
Libya rebels poised for Brega attack
Top News

Libya rebels poised for Brega attack

BENGHAZI : Libya 's rebels are set to launch an offensive on the oil town of Brega in the coming hours, hoping to dis
Published 14 Jul, 2011 12:42pm
Libyan rebels hail US after recognition
Top News

Libyan rebels hail US after recognition

BENGHAZI : Libya's rebel council on Friday hailed the United States as a "protector and promoter of democracy" after Was
Published 14 Jul, 2011 12:14pm
PM chairs meeting of the NCA
Top News

PM chairs meeting of the NCA

ISLAMABAD : Prime Minister Syed Yousuf Raza Gilani on Thursday chaired the 19th meeting of the National Command Authorit
Published 14 Jul, 2011 11:26am
India's food inflation at 8.31pc
Top News

India's food inflation at 8.31pc

NEW DELHI : India's food price index rose 8.31 percent and the fuel price index climbed 11.89 percent in the year to Jul
Published 14 Jul, 2011 06:26am
President summons Zulfiqar Mirza
Top News

President summons Zulfiqar Mirza

ISLAMABAD : President Asif Ali Zardari on Thursday summoned Sindh Senior Minister Zulfiqar Mirza to Islamabad followin
Published 14 Jul, 2011 06:10am
14 more killed in Karachi violence
Top News

14 more killed in Karachi violence

KARACHI : Pakistan ordered hundreds of extra paramilitary policemen onto the streets of Karachi on Thursday after a
Published 14 Jul, 2011 06:05am
Lessons for flood management
BR Research

Lessons for flood management

It was roughly the same time last year when the devastating floods hit Pakistan. Experts are of the view that floods are bound to happen aga
Published 14 Jul, 2011 12:00am
External accounts in the balance
BR Research

External accounts in the balance

The ISI chief Lt Gen Ahmed Shuja Pashas short and abrupt visit to US in pursuit of reviving US-Pak strategic ties, following the USs latest
Published 14 Jul, 2011 12:00am
Commodities aid FTSE rise

Commodities aid FTSE rise

Britain's FTSE 100 bounced on Wednesday, led by commodity stocks as economic data from China and soothing words from the US Federal Reserve raised hopes that stagnation in the global economic recovery might prove short-lived. Having fallen near 5 percent
Published 14 Jul, 2011 12:00am
European shares up

European shares up

European shares bounced back from recent losses on Wednesday as risk appetite improved after US Federal Reserve Chairman Ben Bernanke said the central bank was prepared to introduce more stimulus measures if the economy weakened further. The market also g
Published 14 Jul, 2011 12:00am
South East Asian markets rebound

South East Asian markets rebound

Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy. The re
Published 14 Jul, 2011 12:00am
Hong Kong, China shares up

Hong Kong, China shares up

Hong Kong and Shanghai shares staged a mild rebound on Wednesday after data showed China's economy grew faster than expected in the second quarter, while a strong earnings forecast from a large Chinese lender lifted the beleaguered banking sector. China's
Published 14 Jul, 2011 12:00am
Indian shares gain

Indian shares gain

Indian shares snapped a three-session losing streak and rebounded 1 percent on Wednesday as investors returned to risky assets after China's economic growth data allayed some concerns over a global slowdown even as eurozone debt worries lingered. Financia
Published 14 Jul, 2011 12:00am
Seoul shares snap losing streak

Seoul shares snap losing streak

Seoul shares rose on Wednesday, bouncing back from three sessions of losses with automakers and refiners leading gains. Fears that European debt problems would spread to larger economies such as Italy were overblown, analysts said, adding that China's bet
Published 14 Jul, 2011 12:00am
Deutsche Boerse makes headway in NYSE Euronext deal

Deutsche Boerse makes headway in NYSE Euronext deal

Deutsche Boerse shareholders representing about 60 percent of voting shares have backed a deal with NYSE Euronext, the German exchange operator said a few hours before the offer expires on Wednesday. That was up from about 34.5 percent on Tuesday. The dea
Published 14 Jul, 2011 12:00am
LSE makes push into UK bond trading

LSE makes push into UK bond trading

The London Stock Exchange has launched a UK government bond trading service as part of the exchange's ongoing effort to diversify its business and reduce its reliance on British share trading. The LSE bond trading business MTS said on Wednesday the inclus
Published 14 Jul, 2011 12:00am
LSE makes push into UK bond trading

LSE makes push into UK bond trading

The London Stock Exchange has launched a UK government bond trading service as part of the exchange's ongoing effort to diversify its business and reduce its reliance on British share trading. The LSE bond trading business MTS said on Wednesday the inclus
Published 14 Jul, 2011 12:00am
US stocks stay down

US stocks stay down

US stocks closed lower for a third straight day on Tuesday as Europe's fiscal woes and a weak start to tech earnings gave investors little reason to buy even after the recent losses. Moody's downgrade of Ireland's credit rating late in the session provide
Published 14 Jul, 2011 12:00am
Wednesday's afternoon trade: Wall Street rebounds

Wednesday's afternoon trade: Wall Street rebounds

Wall Street stocks rebounded from a three-day selloff on Wednesday as comments from Federal Reserve Chairman Ben Bernanke raised hopes for further stimulus of the US economy if needed. The Fed's previous stimulus effort, known as QE2, had helped the stock
Published 14 Jul, 2011 12:00am
Nikkei rises

Nikkei rises

The Nikkei stock average bounced off a major support line and rose 0.4 percent on Wednesday as investors snapped up shares of trading houses after Credit Suisse initiated sector coverage with an "outperform" rating, offsetting worries about eurozone debt.
Published 14 Jul, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Tuesday on European debt worries and a solid three-year note sale, but the modest gains suggest that investors are wary of the demand for the longer-dated supply still to come. The bond market advanced for a third straight ses
Published 14 Jul, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Tuesday on European debt worries and a solid three-year note sale, but the modest gains suggest that investors are wary of the demand for the longer-dated supply still to come. The bond market advanced for a third straight ses
Published 14 Jul, 2011 12:00am
Mideast markets: Egyptian shares rebound, others up

Mideast markets: Egyptian shares rebound, others up

Egyptian shares rebounded on Wednesday, buoyed by efforts of a ruling military council to defuse political tensions, and advancing global stocks also helped lift Gulf markets. Cairo's main index rose 2.4 percent, after hitting a two-month low on Tuesday o
Published 14 Jul, 2011 12:00am
Not many changes seen on grain market

Not many changes seen on grain market

A few changes were seen on the wholesale grain market on Wednesday in process of thin trading, dealers said. On the cereal counter grams Australia low type fell by Rs 100 to Rs 4700 and better quality was down by Rs 150 to Rs 4850, grams dal Australia was
Published 14 Jul, 2011 12:00am
Cotton prices at nearly one-year low level: exporters enter market

Cotton prices at nearly one-year low level: exporters enter market

Prices came down to one-year low at Rs 6000 on the cotton market on Wednesday in process of improved activity, dealers said. The Karachi Cotton Association (KCA) official spot rate was slashed sharply by Rs 500 to Rs 6,200, they said. Seedcotton rates in
Published 14 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Contracts were unchanged on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The July contract was unchanged at Rs 1427.50. The December vaida was at Rs 1315.00 and showed no change in the opening session, they said.
Published 14 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 116,046 tonnes of cargo including 85,387 tonnes of import cargo, 30,659 tonnes of export cargo and 4,212 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 85,387 tonnes comp
Published 14 Jul, 2011 12:00am
Vietnam able to export up to 7.3 million tonnes of rice in 2011

Vietnam able to export up to 7.3 million tonnes of rice in 2011

Vietnam, the world's second-largest rice exporter after Thailand, is capable of shipping between 7.0 million and 7.3 million tonnes of the grain this year, after a record volume in 2010, the Agriculture Ministry said. A higher supply in Vietnam, plus Indi
Published 14 Jul, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Tuesday after a US government crop report ignited corn and wheat, spilling over gains to oilseeds, traders said. Key November contract posted its biggest daily percentage gain in over six weeks. Slow farmer selling kept
Published 14 Jul, 2011 12:00am
EU wheat prices higher on USDA data

EU wheat prices higher on USDA data

Wheat prices in western Europe were higher on Wednesday in a continued rebound after bullish US Department of Agriculture (USDA) supply and demand data the previous day. "This report confirms that demand for agricultural products on the international mark
Published 14 Jul, 2011 12:00am
China's June output of copper, aluminium, nickel highest on record

China's June output of copper, aluminium, nickel highest on record

China's production of refined copper, nickel, primary aluminium and its precursor raw material alumina hit monthly records in June, making a strong finish to the first half of 2011, official data showed on Wednesday. Refined copper production rose 8.7 per
Published 14 Jul, 2011 12:00am
Indonesia has ample wheat, India seen as last resort

Indonesia has ample wheat, India seen as last resort

Indonesia has ample wheat for the festive season and will seek Indian supply only as a last resort, the head of an industry group said on Wednesday, dampening hopes that the major Asian buyer would take up exports from India.
Published 14 Jul, 2011 12:00am
Oil demand to strain supply in 2012: IEA

Oil demand to strain supply in 2012: IEA

World oil demand growth will accelerate next year, adding to the pressure on available supplies, the International Energy Agency said on Wednesday, contradicting a more conservative outlook from producer group Opec. In its first 2012 forecast in a monthly
Published 14 Jul, 2011 12:00am
Latam economy strong, capital flows a risk: UN

Latam economy strong, capital flows a risk: UN

The economy of Latin America will likely expand more quickly than previously expected in 2011, but is vulnerable to capital flows that may generate price bubbles, a United Nations' economic body said on Wednesday. The UN's Economic Commission for Latin Am
Published 14 Jul, 2011 12:00am
China's second quarter growth tops forecast

China's second quarter growth tops forecast

China's economy grew faster than expected in the second quarter, easing fears of a hard landing and strengthening Beijing's resolve to fight persistently high inflation. China's statistics office said on Wednesday that stabilising prices remained the top
Published 14 Jul, 2011 12:00am
Obama 2012 campaign breaks goal, records

Obama 2012 campaign breaks goal, records

The campaign to re-elect US President Barack Obama said on Wednesday it raised $86 million from April to June, exceeding its $60 million quarterly target and eclipsing Republican White House contenders. Obama's 2012 campaign said it received donations fro
Published 14 Jul, 2011 12:00am
Five French soldiers killed in Afghanistan

Five French soldiers killed in Afghanistan

Five French soldiers and one Afghan civilian were killed and another four soldiers and three Afghans were seriously injured in a bomb blast Wednesday in eastern Afghanistan the most deadly attack on French troops in the country since 2008. The attack targ
Published 14 Jul, 2011 12:00am
Death toll in Russian boat disaster reaches 100

Death toll in Russian boat disaster reaches 100

Divers widened their search for 29 remaining missing boat passengers after the death toll in Russia's worst river disaster in three decades reached 100, the Emergencies Ministry said on Wednesday. Officials say 79 of 208 passengers survived the sinking of
Published 14 Jul, 2011 12:00am
Turkey's new government wins confidence vote, Kurds boycott

Turkey's new government wins confidence vote, Kurds boycott

Turkish Prime Minister Tayyip Erdogan's government won a confidence vote on Wednesday to push ahead with plans for a new constitution, but a parliament boycott by Kurdish lawmakers has soured his calls for cross-party consensus. Erdogan's AK Party won a t
Published 14 Jul, 2011 12:00am
Karzai weeps for slain brother, crowns heir

Karzai weeps for slain brother, crowns heir

Afghan President Hamid Karzai buried his assassinated brother on Wednesday, then swiftly gave another brother a key role opened by the killing, in what could be a bid to stave off political infighting in the volatile south. President Karzai wept and kisse
Published 14 Jul, 2011 12:00am
Former Bangladesh Prime Minister leads fresh protests

Former Bangladesh Prime Minister leads fresh protests

Bangladesh's former prime minister Khaleda Zia led a six-hour fast in the country's capital Wednesday to protest against changes in the electoral system that have led to violent demonstrations. Zia - a bitter rival of Prime Minister Sheikh Hasina - led ne
Published 14 Jul, 2011 12:00am
Brazil plane crash kills 16

Brazil plane crash kills 16

A small plane crashed early Wednesday near the Brazilian city of Recife after reporting an onboard emergency, killing all of its 16 occupants, rescue officials told AFP. The Noar Linhas Aereas plane, which was bound for Natal, the capital and main city of
Published 14 Jul, 2011 12:00am
EU ties will freeze without Cyprus solution: Turkey

EU ties will freeze without Cyprus solution: Turkey

Turkish relations with the European Union "will freeze" if Cyprus takes over the EU presidency in July 2012 without a solution to the divided island's future, Turkey's foreign minister said on Wednesday. Ahmet Davutoglu made his comments as the European U
Published 14 Jul, 2011 12:00am
Two embassies repay huge British parking fines

Two embassies repay huge British parking fines

The embassies of Kazakhstan and Nigeria in London have paid parking fines worth £40,000 ahead of a government report naming and shaming foreign missions for unpaid penalties, a council said Wednesday. The Kazakh embassy was the worst offender on the counc
Published 14 Jul, 2011 12:00am
Arab League tells: US to stop interfering in Syria

Arab League tells: US to stop interfering in Syria

The Arab League said Wednesday that Washington overstepped its bounds by saying Syrian President Bashar Assad had lost the legitimacy to lead his country. Speaking to reporters in Damascus, Arab League Chief Nabil Elaraby said Assad assured him that "Syri
Published 14 Jul, 2011 12:00am
UNSC to discuss 'secret' Syrian nuclear programme

UNSC to discuss 'secret' Syrian nuclear programme

The UN Security Council planned to discuss Syria's alleged secret nuclear programme with a senior International Atomic Energy Agency (IAEA) inspector who was travelling to New York to present the agency's findings, diplomats in Vienna said Wednesday.
Published 14 Jul, 2011 12:00am
Egypt shakes up police after protests

Egypt shakes up police after protests

Egypt said on Wednesday more than 650 senior officers would end their police service, an unprecedented shake up after protesters demanded reform of a force blamed for killing protesters who ousted Hosni Mubarak. The announcement by the Interior Ministry f
Published 14 Jul, 2011 12:00am
Qadhafi troops retake village

Qadhafi troops retake village

Forces loyal to Libyan leader Muammar Qadhafi retook on Wednesday a village south of the capital seized by rebels a week ago, delivering a setback to rebel plans for a march on Tripoli. The loss of the village of Al-Qawalish, about 100 km (60 miles) from
Published 14 Jul, 2011 12:00am
UN to expose those who attack schools, hospitals

UN to expose those who attack schools, hospitals

Countries and groups that attack schools and hospitals will be named and shamed by the United Nations and could be liable to sanctions under a resolution passed by the Security Council on Tuesday. Perpetrators will be added to a list the UN Secretary Gene
Published 14 Jul, 2011 12:00am
UK jobless claims show biggest jump in 2 years

UK jobless claims show biggest jump in 2 years

The number of Britons claiming unemployment benefit saw its biggest jump in two years last month, taking the total to the highest since March 2010 and raising concerns about the pace of economic recovery. However, as in past months the broader ILO measure
Published 14 Jul, 2011 12:00am
US, Russia approve adoption safeguards

US, Russia approve adoption safeguards

The United States and Russia agreed Wednesday to strengthen safeguards on adoptions, hoping to remove a key irritant in relations as the two powers look to improve co-operation. On a visit to Washington, Russian Foreign Minister Sergei Lavrov took up a ra
Published 14 Jul, 2011 12:00am
EU proposes overhaul of failing fisheries policy

EU proposes overhaul of failing fisheries policy

Europe's fisheries chief called for an overhaul of the European Union's failing fisheries policies on Wednesday, and warned those EU countries that may seek to resist reform that business as usual is not an option. The European Commission has estimated 75
Published 14 Jul, 2011 12:00am
US, Russia approve adoption safeguards

US, Russia approve adoption safeguards

The United States and Russia agreed Wednesday to strengthen safeguards on adoptions, hoping to remove a key irritant in relations as the two powers look to improve co-operation. On a visit to Washington, Russian Foreign Minister Sergei Lavrov took up a ra
Published 14 Jul, 2011 12:00am
EU cuts import duties on potash from Russia, Belarus

EU cuts import duties on potash from Russia, Belarus

The European Union cut import duties on potash from Russia and Belarus on Wednesday, ending almost 20 years of trade barriers against the imported fertiliser and prompting praise from British farmers. Import duties of up to 27.5 percent expired on potash
Published 14 Jul, 2011 12:00am
TCP sugar purchase tender scrapped: no bid received from PSMA members

TCP sugar purchase tender scrapped: no bid received from PSMA members

Trading Corporation of Pakistan (TCP) has scrapped its first sugar procurement tender as none of Pakistan Sugar Mills Association (PSMA) members participated in the process. Sources told Business Recorder on Wednesday that not a single bid has been
Published 14 Jul, 2011 12:00am
Fed prepared to act if economy weakens: Bernanke

Fed prepared to act if economy weakens: Bernanke

Federal Reserve Chairman Ben Bernanke said on Wednesday the central bank is ready to ease monetary policy further if the economy weakens and inflation moves lower, hinting policymakers are actively mulling further stimulus. While holding to a view that re
Published 14 Jul, 2011 12:00am
TCP sugar purchase tender scrapped: no bid received from PSMA members

TCP sugar purchase tender scrapped: no bid received from PSMA members

Trading Corporation of Pakistan (TCP) has scrapped its first sugar procurement tender as none of Pakistan Sugar Mills Association (PSMA) members participated in the process. Sources told Business Recorder on Wednesday that not a single bid has been
Published 14 Jul, 2011 12:00am
Bank funding crunch overshadows Europe stress test

Bank funding crunch overshadows Europe stress test

A Europe-wide test of the safety of its banks risks becoming a side-show as long as politicians struggle to contain the continent's debt crisis and the detrimental impact on day-to-day funding for lenders. Bankers say rapidly rising funding costs are a fa
Published 14 Jul, 2011 12:00am
TCP sugar purchase tender scrapped: no bid received from PSMA members

TCP sugar purchase tender scrapped: no bid received from PSMA members

Trading Corporation of Pakistan (TCP) has scrapped its first sugar procurement tender as none of Pakistan Sugar Mills Association (PSMA) members participated in the process. Sources told Business Recorder on Wednesday that not a single bid has been
Published 14 Jul, 2011 12:00am
US import prices post first decline in a year

US import prices post first decline in a year

US import prices fell in June for the first time in a year as petroleum and food costs tumbled, according to a government report on Wednesday that suggested the commodity-driven spike in inflation was abating. Overall import prices dropped 0.5 percent, br
Published 14 Jul, 2011 12:00am
Iran establishes international oil exchange

Iran establishes international oil exchange

Iran has established an international exchange for crude oil in a free trade zone on the Persian Gulf island of Kish. During a ceremony marking the launch, Ali Salehabadi, who oversees Iran's exchanges, said the market would supply crude in the Middle Eas
Published 14 Jul, 2011 12:00am
Germany digs in heels over summit on Greece

Germany digs in heels over summit on Greece

Eurozone plans for a leaders' summit on a second Greek rescue were thrown into doubt by Germany on Wednesday, raising fears markets may exploit a policy vacuum with a new onslaught on the bloc's high debtors. Berlin stuck to its line that Greece was funde
Published 14 Jul, 2011 12:00am
Iran establishes international oil exchange

Iran establishes international oil exchange

Iran has established an international exchange for crude oil in a free trade zone on the Persian Gulf island of Kish. During a ceremony marking the launch, Ali Salehabadi, who oversees Iran's exchanges, said the market would supply crude in the Middle Eas
Published 14 Jul, 2011 12:00am
Burberry not seeking HK listing as it beats targets

Burberry not seeking HK listing as it beats targets

Luxury group Burberry said it was not seeking a listing in Hong Kong, dismissing recent speculation such a move was afoot, as it posted fiscal first-quarter sales above forecasts. The British maker of raincoats and leather goods, identifiable by their cam
Published 14 Jul, 2011 12:00am
Iran establishes international oil exchange

Iran establishes international oil exchange

Iran has established an international exchange for crude oil in a free trade zone on the Persian Gulf island of Kish. During a ceremony marking the launch, Ali Salehabadi, who oversees Iran''s exchanges, said the market would supply crude in the Middle Ea
Published 14 Jul, 2011 12:00am
Ageing population threatens Britain's debt burden

Ageing population threatens Britain's debt burden

Britain's debt burden will be put on an "unsustainable upward" path should the state fail to raise taxes and cut public spending faced with an ageing population, a budget watchdog warned on Wednesday. "The public finances are likely to come under pressure
Published 14 Jul, 2011 12:00am
Cabinet decision: Supreme Court judge-led body to probe Bugti's killing

Cabinet decision: Supreme Court judge-led body to probe Bugti's killing

Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Wednesday the cabinet meeting held in the provincial capital decided to set up a judicial commission headed by a judge of the Supreme Court to conduct probe into the killing o
Published 14 Jul, 2011 12:00am
Japan issues fresh warning over yen's surge versus dollar

Japan issues fresh warning over yen's surge versus dollar

Japan issued a fresh warning over the yen's rise to a four-month high on Wednesday with the finance ministry saying recent moves in the currency had been one-sided. But few expect Tokyo to intervene in the currency market any time soon with share prices h
Published 14 Jul, 2011 12:00am
Cabinet decision: Supreme Court judge-led body to probe Bugti's killing

Cabinet decision: Supreme Court judge-led body to probe Bugti's killing

Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Wednesday the cabinet meeting held in the provincial capital decided to set up a judicial commission headed by a judge of the Supreme Court to conduct probe into the killing o
Published 14 Jul, 2011 12:00am
Capital One profit jumps 50 percent

Capital One profit jumps 50 percent

Capital One Financial Corp said second-quarter profit jumped 50 percent as fewer customers defaulted on credit cards, a sign that consumer loans may be a bright spot for other major banks. Over the next 10 days, most of the top US banks are due to report
Published 14 Jul, 2011 12:00am
Capital One profit jumps 50 percent

Capital One profit jumps 50 percent

Capital One Financial Corp said second-quarter profit jumped 50 percent as fewer customers defaulted on credit cards, a sign that consumer loans may be a bright spot for other major banks. Over the next 10 days, most of the top US banks are due to report
Published 14 Jul, 2011 12:00am
Rabobank to cut 1,200 jobs at Dutch headquarters

Rabobank to cut 1,200 jobs at Dutch headquarters

Dutch lender Rabobank said on Wednesday it plans to cut more than 1,200 jobs in areas such as IT at its head office, seeking cost-savings of 219 million euros ($312 million) over the next two years. Swiss banks UBS and Credit Suisse are set to announce th
Published 14 Jul, 2011 12:00am
Chrysler recalls 286,000 pickup trucks

Chrysler recalls 286,000 pickup trucks

Chrysler Group LLC will recall about 286,000 Dodge Ram pickup trucks because of potential problems with tie rod assemblies that may increase the risk of a crash, the automaker and US safety regulators said on Wednesday. To be recalled are 2008-2011 Ram 25
Published 14 Jul, 2011 12:00am
PC refuses to give SOEs' 12 percent shares to employees

PC refuses to give SOEs' 12 percent shares to employees

The Privatisation Commission has refused to give 12 percent shares of State Owned Entities (SOEs) to employees with an estimated value of Rs 217.46 billion despite immense pressure from the government, well informed sources told Business Recorder.
Published 14 Jul, 2011 12:00am
Thailand raises rates, signals more to come

Thailand raises rates, signals more to come

The Bank of Thailand raised its benchmark interest rate by a quarter of a point to 3.25 percent on Wednesday and signalled further tightening to come to tame inflationary pressures as a new government moves to boost growth and increase wages.
Published 14 Jul, 2011 12:00am
PC refuses to give SOEs' 12 percent shares to employees

PC refuses to give SOEs' 12 percent shares to employees

The Privatisation Commission has refused to give 12 percent shares of State Owned Entities (SOEs) to employees with an estimated value of Rs 217.46 billion despite immense pressure from the government, well informed sources told Business Recorder.
Published 14 Jul, 2011 12:00am
Message from Former Senior Vice President Lahore Chamber of Commerce

Message from Former Senior Vice President Lahore Chamber of Commerce

I would like to congratulate France and all our French friends, residing in Pakistan, on their National Day. France is the cradle of democracy and human rights in the world. The fall of Bastille on 14th July marked the commencement of a new era in the wor
Published 14 Jul, 2011 12:00am
PC refuses to give SOEs'' 12 percent shares to employees

PC refuses to give SOEs'' 12 percent shares to employees

The Privatisation Commission has refused to give 12 percent shares of State Owned Entities (SOEs) to employees with an estimated value of Rs 217.46 billion despite immense pressure from the government, well informed sources told Business Recorder.
Published 14 Jul, 2011 12:00am
Message from Director Leather Co-ordinators

Message from Director Leather Co-ordinators

Bastille Day, celebrated on July 14 is the French symbol of the end of the Monarchy and the beginning of the First Republic. We, at Leather Co-ordinator Pakistan, are proud of our French heritage and join the people of France in commemorating this occasio
Published 14 Jul, 2011 12:00am
News Corp pulling out of British TV pay-bid

News Corp pulling out of British TV pay-bid

Rupert Murdoch withdrew his bid for British broadcaster BSkyB on Wednesday in the face of cross-party hostility in parliament following allegations of widespread criminality at one of his tabloid newspapers. The move pre-empted by a couple of hours a plan
Published 14 Jul, 2011 12:00am
Message from Managing Director, Hafiz Tannery Pakistan

Message from Managing Director, Hafiz Tannery Pakistan

On a personal basis I am especially delighted to have the opportunity to share my feelings and impression I have with the government and people of France on the auspicious occasion of Bastille Day.
Published 14 Jul, 2011 12:00am
News Corp pulling out of British TV pay-bid

News Corp pulling out of British TV pay-bid

Rupert Murdoch withdrew his bid for British broadcaster BSkyB on Wednesday in the face of cross-party hostility in parliament following allegations of widespread criminality at one of his tabloid newspapers. The move pre-empted by a couple of hours a plan
Published 14 Jul, 2011 12:00am
An overview of France's economy

An overview of France's economy

The French economy managed to stave off a more severe recession than other advanced economies, but the recovery is fragile and the economy is in need of growth-enhancing and deficit-reducing reforms. France has long supported European economic integration
Published 14 Jul, 2011 12:00am
News Corp pulling out of British TV pay-bid

News Corp pulling out of British TV pay-bid

Rupert Murdoch withdrew his bid for British broadcaster BSkyB on Wednesday in the face of cross-party hostility in parliament following allegations of widespread criminality at one of his tabloid newspapers. The move pre-empted by a couple of hours a plan
Published 14 Jul, 2011 12:00am
French internal economy

French internal economy

I would like to congratulate the people and the government of France on their National Day. Specially would like to thanks H.E. M.Daniel Jouanneau the Ambassador, H.E. the Consul General Christian Ramage and Francis Winder, Commercial Consular on their Na
Published 14 Jul, 2011 12:00am
Index gains 70.74 points

Index gains 70.74 points

The investors' interest on dips supported the KSE-100 index to recover 70.74 points to close at 12,262.52 points level on Wednesday. The market opened on a positive note and the index breached through 12,300 psychological level to hit 12,306.86 points. Pr
Published 14 Jul, 2011 12:00am
Hafiz Tannery

Hafiz Tannery

Hafiz Tannery is an ISO 9002 and BSCI certified manufacturer and exporter of premium quality finished leather, leather garments and leather bags accessories from Pakistan. Our comprehensive range of products includes Leather Jackets, Leather Coats, Leathe
Published 14 Jul, 2011 12:00am
Index gains 70.74 points

Index gains 70.74 points

The investors' interest on dips supported the KSE-100 index to recover 70.74 points to close at 12,262.52 points level on Wednesday. The market opened on a positive note and the index breached through 12,300 psychological level to hit 12,306.86 points. Pr
Published 14 Jul, 2011 12:00am
Gulsons Express Pvt Ltd

Gulsons Express Pvt Ltd

Gulsons Express Pvt Ltd (Gulsons Group), extends its heartiest felicitations to the People and Government of France on its National Day.
Published 14 Jul, 2011 12:00am
Index gains 70.74 points

Index gains 70.74 points

The investors'' interest on dips supported the KSE-100 index to recover 70.74 points to close at 12,262.52 points level on Wednesday. The market opened on a positive note and the index breached through 12,300 psychological level to hit 12,306.86 points. P
Published 14 Jul, 2011 12:00am
Leather Co-ordinators

Leather Co-ordinators

Leather Co-ordinators is based in Sahiwal (Punjab) Pakistan. The most prestigious and widely known a leading manufacturer in Pakistan of Finished Leather and Leather Garments. Establishment of company is in 1980 with prior experience of 2 decades in leath
Published 14 Jul, 2011 12:00am
BRIndex30 up 60.48 points

BRIndex30 up 60.48 points

On Wednesday, the BRIndex30 opened at 8,676.72 points and remained in positive throughout the trading session. It touched the intra-day high of 8,785.21 points and low of 8,676.72 points, and closed at 8,737.20 points with a net positive change of 60.48 p
Published 14 Jul, 2011 12:00am
BRIndex30 up 60.48 points

BRIndex30 up 60.48 points

On Wednesday, the BRIndex30 opened at 8,676.72 points and remained in positive throughout the trading session. It touched the intra-day high of 8,785.21 points and low of 8,676.72 points, and closed at 8,737.20 points with a net positive change of 60.48 p
Published 14 Jul, 2011 12:00am
Did you know...?

Did you know...?

The French 'Declaration of the Rights of Man and of the Citizen' of 1789 is the world's first universal declaration of human rights, applying not only to French citizens or "free men", but to all people in the world. Culture France is famous for its liter
Published 14 Jul, 2011 12:00am
Nepra, PPIB row over tariff: investment in power sector compromised!

Nepra, PPIB row over tariff: investment in power sector compromised!

Investment in the power sector has been compromised following the differences that cropped up on tariff issues between National Electric Power Regulatory Authority (Nepra) and Private Power Infrastructure Board (PPIB), it is learnt. Sources said that role
Published 14 Jul, 2011 12:00am
Tourism in France

Tourism in France

In an increasingly competitive environment, France has persisted as the world's number one tourist destination with 9.4% of global travellers, followed by Spain with 6.9% and the United States with 6.1%. The number of foreign tourists staying for one nigh
Published 14 Jul, 2011 12:00am
Nepra, PPIB row over tariff: investment in power sector compromised!

Nepra, PPIB row over tariff: investment in power sector compromised!

Investment in the power sector has been compromised following the differences that cropped up on tariff issues between National Electric Power Regulatory Authority (Nepra) and Private Power Infrastructure Board (PPIB), it is learnt. Sources said that role
Published 14 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 14 Jul, 2011 12:00am
Nepra, PPIB row over tariff: investment in power sector compromised!

Nepra, PPIB row over tariff: investment in power sector compromised!

Investment in the power sector has been compromised following the differences that cropped up on tariff issues between National Electric Power Regulatory Authority (Nepra) and Private Power Infrastructure Board (PPIB), it is learnt. Sources said that role
Published 14 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 14 Jul, 2011 12:00am
Three blasts rock Mumbai: 21 killed, 100 injured

Three blasts rock Mumbai: 21 killed, 100 injured

Three bombs ripped through India's commercial capital Mumbai on Wednesday, killing 21 people and injuring more than 100 in the deadliest attack in the city since the 2008 assault by militants. The co-ordinated blasts hit busy districts in the south of the
Published 14 Jul, 2011 12:00am
Three blasts rock Mumbai: 21 killed, 100 injured

Three blasts rock Mumbai: 21 killed, 100 injured

Three bombs ripped through India's commercial capital Mumbai on Wednesday, killing 21 people and injuring more than 100 in the deadliest attack in the city since the 2008 assault by militants. The co-ordinated blasts hit busy districts in the south of the
Published 14 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 14 Jul, 2011 12:00am
Pakistan condemns blasts

Pakistan condemns blasts

President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani on Wednesday condemned multiple blasts in the Indian city of Mumbai. Three separate blasts hit the city, India's commercial capital, according to the Indian home ministry. "President, Prime Min
Published 14 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 14 Jul, 2011 12:00am
Pakistan condemns blasts

Pakistan condemns blasts

President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani on Wednesday condemned multiple blasts in the Indian city of Mumbai. Three separate blasts hit the city, India's commercial capital, according to the Indian home ministry. "President, Prime Min
Published 14 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 Wednesday (July 13, 2011).

Published 14 Jul, 2011 12:00am
Hectic efforts on to mend fences: ISI chief leaves for US

Hectic efforts on to mend fences: ISI chief leaves for US

The top military and intelligence officials of the US and Pakistan are making hectic efforts to mend fences between the two allies in the war against terrorism with recent visit of US Central Command Commander General James Mattis to Islamabad and ISI chi
Published 14 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 Wednesday (July 13, 2011).

Published 14 Jul, 2011 12:00am
Hectic efforts on to mend fences: ISI chief leaves for US

Hectic efforts on to mend fences: ISI chief leaves for US

The top military and intelligence officials of the US and Pakistan are making hectic efforts to mend fences between the two allies in the war against terrorism with recent visit of US Central Command Commander General James Mattis to Islamabad and ISI chi
Published 14 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 Wednesday (July 13, 2011).

Published 14 Jul, 2011 12:00am
Commitment to fiscal reforms: Kardar's exit may further shake confidence

Commitment to fiscal reforms: Kardar's exit may further shake confidence

State Bank of Pakistan governor Shahid Kardar has resigned, a finance ministry official said on Wednesday, making him the second governor to leave in just over a year and sending a negative signal on economic outlook. It was unclear exactly when Shahid Ka
Published 14 Jul, 2011 12:00am
Commitment to fiscal reforms: Kardar's exit may further shake confidence

Commitment to fiscal reforms: Kardar's exit may further shake confidence

State Bank of Pakistan governor Shahid Kardar has resigned, a finance ministry official said on Wednesday, making him the second governor to leave in just over a year and sending a negative signal on economic outlook. It was unclear exactly when Shahid Ka
Published 14 Jul, 2011 12:00am
Events that led to his resignation

Events that led to his resignation

State Bank of Pakistan Governor Shahid H. Kardar has submitted his resignation to Federal Finance Minister Dr Abdul Hafeez Sheikh, who has so far not forwarded the same to Prime Minister Yousuf Raza Gilani. With less than a year on the job, the incumbent
Published 14 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 Wednesday (July 13, 2011).

Published 14 Jul, 2011 12:00am
Events that led to his resignation

Events that led to his resignation

State Bank of Pakistan Governor Shahid H. Kardar has submitted his resignation to Federal Finance Minister Dr Abdul Hafeez Sheikh, who has so far not forwarded the same to Prime Minister Yousuf Raza Gilani. With less than a year on the job, the incumbent
Published 14 Jul, 2011 12:00am
Events that led to his resignation

Events that led to his resignation

State Bank of Pakistan Governor Shahid H. Kardar has submitted his resignation to Federal Finance Minister Dr Abdul Hafeez Sheikh, who has so far not forwarded the same to Prime Minister Yousuf Raza Gilani. With less than a year on the job, the incumbent
Published 14 Jul, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (July 13, 2011).
Published 14 Jul, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (July 13, 2011).

Published 14 Jul, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 4.38 points as the ISE Ten Index moved from 2,721.51
Published 14 Jul, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 4.38 points as the ISE Ten Index moved from 2,721.51
Published 14 Jul, 2011 12:00am
LSE index up 15.08 points

LSE index up 15.08 points

Equities moved both ways at the Lahore Stock Exchange (LSE) on Wednesday and settled in positive column amid ascending transaction volume. The LSE-25 index moved up to 3101.54 points against 3086.46 points of Tuesday, showing a gain of 15.08 points, while
Published 14 Jul, 2011 12:00am
LSE index up 15.08 points

LSE index up 15.08 points

Equities moved both ways at the Lahore Stock Exchange (LSE) on Wednesday and settled in positive column amid ascending transaction volume. The LSE-25 index moved up to 3101.54 points against 3086.46 points of Tuesday, showing a gain of 15.08 points, while
Published 14 Jul, 2011 12:00am
Supreme Court moved against revival of commissionerate system

Supreme Court moved against revival of commissionerate system

The Supreme Court of Pakistan has been moved against the revival of commission?erate system in Sindh. Petitioner Maulvi Iqbal Haider on Wednesday filed this petition under article 184 (3) of the Constitution of Pakistan. Maulvi Iqbal has made secretary la
Published 14 Jul, 2011 12:00am
Supreme Court moved against revival of commissionerate system

Supreme Court moved against revival of commissionerate system

The Supreme Court of Pakistan has been moved against the revival of commission?erate system in Sindh. Petitioner Maulvi Iqbal Haider on Wednesday filed this petition under article 184 (3) of the Constitution of Pakistan. Maulvi Iqbal has made secretary la
Published 14 Jul, 2011 12:00am
Three killed in sporadic firing

Three killed in sporadic firing

Three persons including a woman were killed and many others were injured in firing incidences in various areas of the city, while two trawlers and a bus were also torched on late Wednesday night, Aaj News reported. Apart from Karachi, firing incide
Published 14 Jul, 2011 12:00am
Three killed in sporadic firing

Three killed in sporadic firing

Three persons including a woman were killed and many others were injured in firing incidences in various areas of the city, while two trawlers and a bus were also torched on late Wednesday night, Aaj News reported. Apart from Karachi, firing incide
Published 14 Jul, 2011 12:00am
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