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Archive - 2011-07-18
Cisco cutting workforce by 9pc
Industry

Cisco cutting workforce by 9pc

SAN FRANCISCO: US networking giant Cisco on Monday said it will eliminate 6,500 jobs, cutting its global workforce by
Published 18 Jul, 2011 08:13pm
Libyan rebels claim control of Brega
Top News

Libyan rebels claim control of Brega

AJDABIYA: Libya's rebels claimed control of Brega on Monday as pro-Qadhafi troops retreated westward leaving just 150-20
Published 18 Jul, 2011 07:21pm
Syria recognises Palestinian state
Top News

Syria recognises Palestinian state

DAMASCUS : The Syrian foreign ministry said Monday that Damascus recognises a Palestinian state with east Jerusalem as i
Published 18 Jul, 2011 03:59pm
Petraeus steps down in Afghanistan
Top News

Petraeus steps down in Afghanistan

KABUL : General David Petraeus, the United States commander in Afghanistan , on Monday stepped down and handed over c
Published 18 Jul, 2011 12:26pm
Pakistan's 2010-11 c/a surplus at $542m
Top News

Pakistan's 2010-11 c/a surplus at $542m

ISLAMABAD : Pakistan's current account surplus for the 2010/11 fiscal year (July-June) was a provisional $542 million, c
Published 18 Jul, 2011 08:34am
Gilani leaves on private visit to UK
Top News

Gilani leaves on private visit to UK

ISLAMABAD : Prime Minister Yusuf Raza Gilani who left Monday for London on five-day private visit, says he looks forward
Published 18 Jul, 2011 08:32am
Reasons why boss always right
BR Research

Reasons why boss always right

The State Bank of Pakistan is witnessing the exit of its third governor since the current government took office after Feb 18, 2008 election
Published 18 Jul, 2011 12:00am
KSE-100: clueless, headless
BR Research

KSE-100: clueless, headless

As KSE gloom deepens this month, market men have been quick to point fingers at the growing political imbroglio in Karachi that led to cityw
Published 18 Jul, 2011 12:00am
Urgent, decisive actions needed for economic revival: PEW

Urgent, decisive actions needed for economic revival: PEW

The Pakistan Economy Watch (PEW) on Sunday said economy of the country is going down by the passage of every day, which calls for urgent and decisive actions by the government. Doubts, uncertainty, panic and pain has become part of the life for commoners
Published 18 Jul, 2011 12:00am
'Authorities impose curbs on freedom of expression in IHK'

'Authorities impose curbs on freedom of expression in IHK'

Senior leader of the All Parties Hurriyet Conference and the President of Jammu and Kashmir Democratic Freedom Party, Shabbir Ahmed Shah has said that the authorities have imposed curbs on freedom of expression in occupied Kashmir.
Published 18 Jul, 2011 12:00am
IHK HC Bar polls on July 31

IHK HC Bar polls on July 31

In occupied Kashmir, the polls for new Executive Body including the president and the general secretary of High Court Bar Association would be held on July 31.
Published 18 Jul, 2011 12:00am
Prices of essential kitchen items register increase

Prices of essential kitchen items register increase

Prices of most of the essential kitchen items have registered considerable increase during the current week as compared to previous week, a survey carried out by Business Recorder revealed.
Published 18 Jul, 2011 12:00am
Department of Social Work: SU to introduce special education discipline

Department of Social Work: SU to introduce special education discipline

Sindh University (SU) will introduce special education discipline in department of social work; a proposal will be moved to Academic Council for the approval and Higher Education Commission (HEC) for special funding for set-up of the laboratories for spec
Published 18 Jul, 2011 12:00am
Fatimid seeks land for Haematological Complex

Fatimid seeks land for Haematological Complex

Fatimid Foun-dation, Khyber-Pakhtunkhwa has demanded allotment of land for establishment of Haematological Complex in the provincial metropolis. The complex would be established on five-kanal land where separate blocks for thalesimia and haemophilia patie
Published 18 Jul, 2011 12:00am
Investment in 40 ginning units

Investment in 40 ginning units

The Chairman of the Karachi Cotton Brokers Forum Naseem Usman while talking exclusively to Business Recorder revealed that around 3 billion rupees will be invested to set up 30 new ginning factories. This decision is premised on the fact that cotton outpu
Published 18 Jul, 2011 12:00am
Mending Pak-US ties

Mending Pak-US ties

ISI chief Lieutenant-General Shuja Pasha's meetings with senior American officials in Washington seem to have put the troubled Pak-US relations back on track. The threat of military aid suspension is off the table. That though was only an incidental issue
Published 18 Jul, 2011 12:00am
Decentralisation - power to the people!

Decentralisation - power to the people!

Decentralisation is the statutory granting of powers by the central government of a sovereign state to government at a sub-national level - be it at the local, provincial or regional level.
Published 18 Jul, 2011 12:00am
Cambodia's Muslims seek justice for genocide

Cambodia's Muslims seek justice for genocide

Zakaria bin Ahmad cannot forget the years of horror under the brutal Khmer Rouge when even praying was to risk death for Cambodia's persecuted minority Muslims. Many others in his community did not survive the late 1970s reign of terror by the hard-line c
Published 18 Jul, 2011 12:00am
The rains are coming - again!

The rains are coming - again!

A year after the devastating floods and people are still trying to bring some normality back to their lives. The coverage of the floods was intense, but the slow and painstaking rehabilitation phase has gone unnoticed by the masses. A year later and peopl
Published 18 Jul, 2011 12:00am
Gas loadshedding in Sindh

Gas loadshedding in Sindh

The Economic Co-ordination Committee (ECC) of the Cabinet approved in principle on June 30 massive gas loadshedding, hike in its prices and curtailment of gas for CNG stations in Sindh and Punjab, subject to approval by the Prime Minister.
Published 18 Jul, 2011 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (July 11 to 16, 2011)

Published 18 Jul, 2011 12:00am
The Weather

The Weather

The weather report on Sunday (July 17, 2011) and the forecast for Monday (July 18, 2011).

Published 18 Jul, 2011 12:00am
Scotland Yard chief quits

Scotland Yard chief quits

Britain's top police officer resigned Sunday and Rupert Murdoch's former aide Rebekah Brooks was arrested as the phone hacking scandal finally tore into the heart of the British establishment. Metropolitan Police Commissioner Paul Stephenson said he was q
Published 18 Jul, 2011 12:00am
Scotland Yard chief quits

Scotland Yard chief quits

Britain's top police officer resigned Sunday and Rupert Murdoch's former aide Rebekah Brooks was arrested as the phone hacking scandal finally tore into the heart of the British establishment. Metropolitan Police Commissioner Paul Stephenson said he was q
Published 18 Jul, 2011 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

The dollar, during the week, ended on July 16, 2011, breached the barrier of Rs 86 due to extended buying by importers to clear the bills. In the interbank deals, the rupee lost 17 paisa versus dollar for buying at 86.07 and 15 paisa for selling at 86.10.
Published 18 Jul, 2011 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

The dollar, during the week, ended on July 16, 2011, breached the barrier of Rs 86 due to extended buying by importers to clear the bills. In the interbank deals, the rupee lost 17 paisa versus dollar for buying at 86.07 and 15 paisa for selling at 86.10.
Published 18 Jul, 2011 12:00am
Mumbai blasts: man dies after questioning

Mumbai blasts: man dies after questioning

An Indian man died of a brain haemorrhage on Sunday after being questioned by Mumbai police over the recent bomb blasts, officials said, denying family accusations that he had been mistreated. Faiz Usmani was taken to hospital by police when he complained
Published 18 Jul, 2011 12:00am
Mumbai blasts: man dies after questioning

Mumbai blasts: man dies after questioning

An Indian man died of a brain haemorrhage on Sunday after being questioned by Mumbai police over the recent bomb blasts, officials said, denying family accusations that he had been mistreated. Faiz Usmani was taken to hospital by police when he complained
Published 18 Jul, 2011 12:00am
DLTL/R&DS allocated funds exhausted

DLTL/R&DS allocated funds exhausted

The State Bank of Pakistan has stopped payment of drawback of local taxes and levies (DLTL) and research and development subsidy (R&DS) claims as the funds allocated by the Ministry of Finance have been exhausted. Sources told Business Recorder on Saturda
Published 18 Jul, 2011 12:00am
DLTL/R&DS allocated funds exhausted

DLTL/R&DS allocated funds exhausted

The State Bank of Pakistan has stopped payment of drawback of local taxes and levies (DLTL) and research and development subsidy (R&DS) claims as the funds allocated by the Ministry of Finance have been exhausted. Sources told Business Recorder on Saturda
Published 18 Jul, 2011 12:00am
DLTL/R&DS allocated funds exhausted

DLTL/R&DS allocated funds exhausted

The State Bank of Pakistan has stopped payment of drawback of local taxes and levies (DLTL) and research and development subsidy (R&DS) claims as the funds allocated by the Ministry of Finance have been exhausted. Sources told Business Recorder on Saturda
Published 18 Jul, 2011 12:00am
Amendment to IT Ordinance proposed

Amendment to IT Ordinance proposed

The Federal Board of Revenue (FBR) is seriously holding brainstorming on a major proposal of its tax advisors/consultants for amending Income Tax Ordinance 2001, making it compulsory for tax/government departments to record all economic transactions of a
Published 18 Jul, 2011 12:00am
Amendment to IT Ordinance proposed

Amendment to IT Ordinance proposed

The Federal Board of Revenue (FBR) is seriously holding brainstorming on a major proposal of its tax advisors/consultants for amending Income Tax Ordinance 2001, making it compulsory for tax/government departments to record all economic transactions of a
Published 18 Jul, 2011 12:00am
Amendment to IT Ordinance proposed

Amendment to IT Ordinance proposed

The Federal Board of Revenue (FBR) is seriously holding brainstorming on a major proposal of its tax advisors/consultants for amending Income Tax Ordinance 2001, making it compulsory for tax/government departments to record all economic transactions of a
Published 18 Jul, 2011 12:00am
Thermal IPPs to be converted to cheaper fuels

Thermal IPPs to be converted to cheaper fuels

The government has decided, in principle, to convert public and private thermal power plants to cheaper fuels due to rising furnace oil prices and depleting gas quantities, sources close to Minister for Water and Power told Business Recorder.
Published 18 Jul, 2011 12:00am
Thermal IPPs to be converted to cheaper fuels

Thermal IPPs to be converted to cheaper fuels

The government has decided, in principle, to convert public and private thermal power plants to cheaper fuels due to rising furnace oil prices and depleting gas quantities, sources close to Minister for Water and Power told Business Recorder.
Published 18 Jul, 2011 12:00am
Thermal IPPs to be converted to cheaper fuels

Thermal IPPs to be converted to cheaper fuels

The government has decided, in principle, to convert public and private thermal power plants to cheaper fuels due to rising furnace oil prices and depleting gas quantities, sources close to Minister for Water and Power told Business Recorder.
Published 18 Jul, 2011 12:00am
I told you the job is tough

I told you the job is tough

In an article carried by Business Recorder on Sept 14, 2010, I mustered courage to come up with a note of caution for Shahid H. Kardar, making it clear to him that this is not a TV talk where he can provide objective analyses to viewers on issues ranging
Published 18 Jul, 2011 12:00am
I told you the job is tough

I told you the job is tough

In an article carried by Business Recorder on Sept 14, 2010, I mustered courage to come up with a note of caution for Shahid H. Kardar, making it clear to him that this is not a TV talk where he can provide objective analyses to viewers on issues ranging
Published 18 Jul, 2011 12:00am
I told you the job is tough

I told you the job is tough

In an article carried by Business Recorder on Sept 14, 2010, I mustered courage to come up with a note of caution for Shahid H. Kardar, making it clear to him that this is not a TV talk where he can provide objective analyses to viewers on issues ranging
Published 18 Jul, 2011 12:00am
ISAF containers: multi-billion rupees scam detected

ISAF containers: multi-billion rupees scam detected

Serious violations of rules and regulations on the part of the concerned field formation of FBR and NLC with the connivance of senior management resulted in the multi-billion rupees ISAF containers scam, interim report of Federal Board of Revenue (FBR) sa
Published 18 Jul, 2011 12:00am
ISAF containers: multi-billion rupees scam detected

ISAF containers: multi-billion rupees scam detected

Serious violations of rules and regulations on the part of the concerned field formation of FBR and NLC with the connivance of senior management resulted in the multi-billion rupees ISAF containers scam, interim report of Federal Board of Revenue (FBR) sa
Published 18 Jul, 2011 12:00am
ISAF containers: multi-billion rupees scam detected

ISAF containers: multi-billion rupees scam detected

Serious violations of rules and regulations on the part of the concerned field formation of FBR and NLC with the connivance of senior management resulted in the multi-billion rupees ISAF containers scam, interim report of Federal Board of Revenue (FBR) sa
Published 18 Jul, 2011 12:00am
Transition to Afghan forces begins

Transition to Afghan forces begins

Afghanistan began the long-publicised transition to control of its own security amid secrecy, not fanfare, on Sunday, a reminder of how tense the country is as foreign troops start to head home and violence spreads.
Published 18 Jul, 2011 12:00am
Transition to Afghan forces begins

Transition to Afghan forces begins

Afghanistan began the long-publicised transition to control of its own security amid secrecy, not fanfare, on Sunday, a reminder of how tense the country is as foreign troops start to head home and violence spreads.
Published 18 Jul, 2011 12:00am
Senior Adviser to Karzai murdered

Senior Adviser to Karzai murdered

A senior adviser to Afghan President Hamid Karzai has been murdered along with a member of parliament visiting him at his Kabul home, a senior government official told AFP on Sunday. Jan Mohammad Khan, the former governor of southern Uruzgan province and
Published 18 Jul, 2011 12:00am
Senior Adviser to Karzai murdered

Senior Adviser to Karzai murdered

A senior adviser to Afghan President Hamid Karzai has been murdered along with a member of parliament visiting him at his Kabul home, a senior government official told AFP on Sunday. Jan Mohammad Khan, the former governor of southern Uruzgan province and
Published 18 Jul, 2011 12:00am
Five PMDC officials kidnapped in Balochistan

Five PMDC officials kidnapped in Balochistan

Tribal rebels have kidnapped five government officials in Balochistan to demand an end to military operations in the area, officials said Sunday. The kidnapping took place early Sunday in Sorange district, some 40 kilometres (25 miles) south of Quetta.
Published 18 Jul, 2011 12:00am
Five PMDC officials kidnapped in Balochistan

Five PMDC officials kidnapped in Balochistan

Tribal rebels have kidnapped five government officials in Balochistan to demand an end to military operations in the area, officials said Sunday. The kidnapping took place early Sunday in Sorange district, some 40 kilometres (25 miles) south of Quetta.
Published 18 Jul, 2011 12:00am
Stock market remains bearish

Stock market remains bearish

A bearish sentiment prevailed on the Karachi share market during the week ended on July 15, 2011 due to law and order and political situation in the country. The KSE-100 index lost 43.60 points and closed at 12,346.52 points, with extremely low volumes.
Published 18 Jul, 2011 12:00am
Stock market remains bearish

Stock market remains bearish

A bearish sentiment prevailed on the Karachi share market during the week ended on July 15, 2011 due to law and order and political situation in the country. The KSE-100 index lost 43.60 points and closed at 12,346.52 points, with extremely low volumes.
Published 18 Jul, 2011 12:00am
Stock market remains bearish

Stock market remains bearish

A bearish sentiment prevailed on the Karachi share market during the week ended on July 15, 2011 due to law and order and political situation in the country. The KSE-100 index lost 43.60 points and closed at 12,346.52 points, with extremely low volumes.
Published 18 Jul, 2011 12:00am
6.4 percent increase in futures open interest

6.4 percent increase in futures open interest

Total open interest at the futures counter increased by 6.4 percent or Rs 62 million during the outgoing week to Rs 1.02 billion. The futures spreads, however, declined by 323bps on week-on-week basis to 6.25 percent. Trading at the futures counter improv
Published 18 Jul, 2011 12:00am
6.4 percent increase in futures open interest

6.4 percent increase in futures open interest

Total open interest at the futures counter increased by 6.4 percent or Rs 62 million during the outgoing week to Rs 1.02 billion. The futures spreads, however, declined by 323bps on week-on-week basis to 6.25 percent. Trading at the futures counter improv
Published 18 Jul, 2011 12:00am
6.4 percent increase in futures open interest

6.4 percent increase in futures open interest

Total open interest at the futures counter increased by 6.4 percent or Rs 62 million during the outgoing week to Rs 1.02 billion. The futures spreads, however, declined by 323bps on week-on-week basis to 6.25 percent. Trading at the futures counter improv
Published 18 Jul, 2011 12:00am
6.4 percent increase in futures open interest

6.4 percent increase in futures open interest

Total open interest at the futures counter increased by 6.4 percent or Rs 62 million during the outgoing week to Rs 1.02 billion. The futures spreads, however, declined by 323bps on week-on-week basis to 6.25 percent. Trading at the futures counter improv
Published 18 Jul, 2011 12:00am
Dow Jones panel concerned about hacking scandal

Dow Jones panel concerned about hacking scandal

A special committee formed to oversee the integrity of Dow Jones & Co under parent News Corp is very concerned about the British phone hacking scandal that has shaken Rupert Murdoch's media empire.
Published 18 Jul, 2011 12:00am
Father of admitted terrorist faces NYC trial

Father of admitted terrorist faces NYC trial

The father of an admitted terrorist who plotted against New York City subways is about to go on trial himself. Opening statements in the case against Mohammed Wali Zazi were set for Monday in federal court in Brooklyn.
Published 18 Jul, 2011 12:00am
Ministry denies 'Mubarak in full coma'

Ministry denies 'Mubarak in full coma'

The health ministry on Sunday denied a report that Egypt's ailing former president Hosni Mubarak had fallen into a "full coma," two weeks before he is due to go on trial for murder and corruption. "The former president is in a full coma after his health s
Published 18 Jul, 2011 12:00am
Ministry denies 'Mubarak in full coma'

Ministry denies 'Mubarak in full coma'

The health ministry on Sunday denied a report that Egypt's ailing former president Hosni Mubarak had fallen into a "full coma," two weeks before he is due to go on trial for murder and corruption. "The former president is in a full coma after his health s
Published 18 Jul, 2011 12:00am
Aqeel given on one-day transit remand

Aqeel given on one-day transit remand

Pakistan Muslim League-Nawaz MNA Anjum Aqeel, who had surrendered himself to police on Saturday, was presented before a local court on Sunday amid tight security. He was presented before Judicial Magistrate (Duty Judge) Kashif Qayyum, who handed over the
Published 18 Jul, 2011 12:00am
Aqeel given on one-day transit remand

Aqeel given on one-day transit remand

Pakistan Muslim League-Nawaz MNA Anjum Aqeel, who had surrendered himself to police on Saturday, was presented before a local court on Sunday amid tight security. He was presented before Judicial Magistrate (Duty Judge) Kashif Qayyum, who handed over the
Published 18 Jul, 2011 12:00am
World Bank chief urges broad global trade accord

World Bank chief urges broad global trade accord

World Bank President Robert Zoellick, in remarks released on Sunday, said it was time for countries to get out of their defensive positions on trade and push for a broad agreement that could help the struggling global economy.
Published 18 Jul, 2011 12:00am
World Bank chief urges broad global trade accord

World Bank chief urges broad global trade accord

World Bank President Robert Zoellick, in remarks released on Sunday, said it was time for countries to get out of their defensive positions on trade and push for a broad agreement that could help the struggling global economy.
Published 18 Jul, 2011 12:00am
World Bank chief urges broad global trade accord

World Bank chief urges broad global trade accord

World Bank President Robert Zoellick, in remarks released on Sunday, said it was time for countries to get out of their defensive positions on trade and push for a broad agreement that could help the struggling global economy.
Published 18 Jul, 2011 12:00am
India's Tata group to sell $700 flat-pack house

India's Tata group to sell $700 flat-pack house

The Indian company that launched the world's cheapest car has unveiled its latest product for the fast-growing nation: a flat-pack house that costs just $700 and can be built in a week. The Tata group, maker of the $2,500 Nano car, said that the 20-square
Published 18 Jul, 2011 12:00am
India's Tata group to sell $700 flat-pack house

India's Tata group to sell $700 flat-pack house

The Indian company that launched the world's cheapest car has unveiled its latest product for the fast-growing nation: a flat-pack house that costs just $700 and can be built in a week. The Tata group, maker of the $2,500 Nano car, said that the 20-square
Published 18 Jul, 2011 12:00am
India''s Tata group to sell $700 flat-pack house

India''s Tata group to sell $700 flat-pack house

The Indian company that launched the world''s cheapest car has unveiled its latest product for the fast-growing nation: a flat-pack house that costs just $700 and can be built in a week. The Tata group, maker of the $2,500 Nano car, said that the 20-squar
Published 18 Jul, 2011 12:00am
LSE launches new website

LSE launches new website

www.lse.com.pk is the new website of Lahore Stock Exchange (LSE) launched with an ambition of providing a single platform for all capital market related information. The website seeks to cater the requirement of all the stakeholders ie investors, companie
Published 18 Jul, 2011 12:00am
Pida helping farmers in better use of water

Pida helping farmers in better use of water

Punjab Irrigation Drainage Authority (Pida) is helping farmers through many useful interventions for increasing the role of farmers in management of water channels.
Published 18 Jul, 2011 12:00am
JI to observe solidarity day with Baloch people tomorrow

JI to observe solidarity day with Baloch people tomorrow

The Jamaat-e-Islami will observe complete solidarity day with the oppressed people of Balochistan on July 19 (Tuesday) by staging a sit-in at Quetta and holding public meetings and rallies at major cities all over the country. The arrangements for the day
Published 18 Jul, 2011 12:00am
Museum Day today

Museum Day today

International Museum Day will be observed in Pakistan like elsewhere in the world on Monday. This year's theme is "Objects Tell Your Story." Lahore museum will hold a seminar to mark the day. The day is observed every year to focus on the academic and edu
Published 18 Jul, 2011 12:00am
Access to justice: role of public prosecutors vital: Khosa

Access to justice: role of public prosecutors vital: Khosa

Senior Advisor to Chief Minister Punjab Sardar Zulfiqar Ali Khan Khosa has said that the role of public prosecutors in the access to justice in criminal cases is of great importance, therefore, they should discharge their professional duties with responsi
Published 18 Jul, 2011 12:00am
Shab-e-Bara'at observed with religious zeal

Shab-e-Bara'at observed with religious zeal

Shab-e-Bara'at, the night of reverence and fervour, was observed across the country with great religious zeal on Sunday night. The Muslims offered special night-long prayers to seek forgiveness and Allah Almighty's blessing on this occasion to achieve suc
Published 18 Jul, 2011 12:00am
POAMCL meeting held

POAMCL meeting held

Board of Directors of Pak Oman Asset Management Company Limited (POAMCL), in its meeting held on July 5, 2011, has approved the following dividend on POAMCL Funds:
Published 18 Jul, 2011 12:00am
POAMCL meeting held

POAMCL meeting held

Board of Directors of Pak Oman Asset Management Company Limited (POAMCL), in its meeting held on July 5, 2011, has approved the following dividend on POAMCL Funds:
Published 18 Jul, 2011 12:00am
Rabbani briefs Prime Minister on UK visit

Rabbani briefs Prime Minister on UK visit

The former Chairman of the Implementation Commission, Senator Mian Raza Rabbani called on Prime Minister Syed Yousuf Raza Gilani at PM House here Sunday morning. He briefed the Prime Minister about his recent visit to the United Kingdom along with delegat
Published 18 Jul, 2011 12:00am
Chief of General Staff to hold talks with Chinese officials

Chief of General Staff to hold talks with Chinese officials

Lieutenant General Waheed Arshad, Chief of General Staff of Pakistan Army who is currently on an official visit to China, will hold important bilateral meetings with the senior Chinese government officials.
Published 18 Jul, 2011 12:00am
Hashmi rules out in-house change

Hashmi rules out in-house change

Makhdoom Javed Hashmi, senior leader of Pakistan Muslim League-N, while talking to journalists here on Sunday rejected the notion of an in-house change in the government, stating rather it is time for elections. Javed Hashmi, a vibrant student leader and
Published 18 Jul, 2011 12:00am
Water inflow in rivers increases after rains

Water inflow in rivers increases after rains

Water inflow in four live rivers of the country has improved after third spell of monsoon rains in the upper regions of country during the past couple of days. Flood Warning Centre (FWC) told Business Recorder here on Sunday that water flow in river Indus
Published 18 Jul, 2011 12:00am
Government urged to raise minimum wages of workers

Government urged to raise minimum wages of workers

The National Executive Board of Pakistan Workers Federation meeting here on Sunday asked the government to raise minimum wages and old-age benefits of the industrial and commercial workers that commensurate with price hike and enforcement of labour laws a
Published 18 Jul, 2011 12:00am
Cleft lip patients to get free treatment

Cleft lip patients to get free treatment

A special one-day camp will be held on Monday to provide free treatment to cleft lip and cleft palate patients. Plastic Surgeon Dr Farooq Irfan from King Fahd Hospital, Saudi Arabia will examine the patients. The treatment has been arranged by Pakistan Cl
Published 18 Jul, 2011 12:00am
Prisoners take policemen hostage in Larkana jail

Prisoners take policemen hostage in Larkana jail

Dozens of inmates have taken two policemen and a prison worker hostage Larkana in a protest against plans to transfer them to other jails, the provincial prisons chief said Sunday. Some 1,200 inmates at Larkana prison were being moved to other facilities
Published 18 Jul, 2011 12:00am
Third phase of anti-polio drive kicks off in KPK

Third phase of anti-polio drive kicks off in KPK

About 3.2 million children below the age of five will be targeted in 15 high risk districts of Khyber-Pakhtunkhwa under the third phase of National Immunisation Days (NIDs), as three days Anti-polio drive kicked off here in the province.
Published 18 Jul, 2011 12:00am
CCH organises 'Fun Mela' for children cancer patients

CCH organises 'Fun Mela' for children cancer patients

Some eighty children, suffering from childhood cancer, had a memorable time at a family fun mela, organised by the Children Cancer Hospital (CCH) in Clifton to provide them recreational activities and to raise funds for the treatment of children, whose pa
Published 18 Jul, 2011 12:00am
3Sixty MS, PANSEP sign MoU

3Sixty MS, PANSEP sign MoU

3Sixty Management Solutions and Pakistani American Network of Science and Engineering Professionals (PANSEP) signed an MOU on Saturday. Marriam Ahmed, CEO 3Sixty MS, addressed on this occasion that 3Sixty MS and PANSEP, signed an MoU to empower the people
Published 18 Jul, 2011 12:00am
KASB Securities continues impressive run at CFA Awards

KASB Securities continues impressive run at CFA Awards

KASB Securities Ltd, Pakistan's leading brokerage firm continued its impressive run at the CFA Association of Pakistan Excellence Awards. The CFA awards to recognise the best in the business are based on a wide ranging poll of domestic financial instituti
Published 18 Jul, 2011 12:00am
KASB Securities continues impressive run at CFA Awards

KASB Securities continues impressive run at CFA Awards

KASB Securities Ltd, Pakistan's leading brokerage firm continued its impressive run at the CFA Association of Pakistan Excellence Awards. The CFA awards to recognise the best in the business are based on a wide ranging poll of domestic financial instituti
Published 18 Jul, 2011 12:00am
Mumbai blasts cloud India's talks with US, Pakistan

Mumbai blasts cloud India's talks with US, Pakistan

Triple blasts in Mumbai last week have cast a shadow over the imminent visit of US Secretary of State Hillary Clinton to New Delhi and a new round of India-Pakistan peace talks later this month.
Published 18 Jul, 2011 12:00am
Seminary teacher sexually abuses boy

Seminary teacher sexually abuses boy

A seminary teacher allegedly assaulted a minor student in the jurisdiction of Wah Cantonment Police Station on Sunday. Police sources told APP that 11 years old boy was the student of a seminary located in the area. On Sunday, Qari Obaid-ur-Rehman, a teac
Published 18 Jul, 2011 12:00am
Egypt changes finance minister in reshuffle

Egypt changes finance minister in reshuffle

Egypt picked a new finance minister on Sunday as part of a cabinet reshuffle demanded by protesters camped out in central Cairo, and the outgoing minister said policy-making had become "confused". Samir Radwan, the outgoing minister, will be replaced by H
Published 18 Jul, 2011 12:00am
Former Uruguayan dictator Bordaberry dies

Former Uruguayan dictator Bordaberry dies

Former President-turned-dictator Juan Maria Bordaberry, whose self-coup launched more than a decade of military rule in Uruguay, died Sunday in his home where he was serving a sentence for leading efforts to eliminate leftist dissent in the 1970s.
Published 18 Jul, 2011 12:00am
Chavez arrives in Cuba for chemotherapy

Chavez arrives in Cuba for chemotherapy

Venezuelan President Hugo Chavez was in Cuba on Sunday to begin chemotherapy treatment after a cancerous tumour was found and removed recently from his pelvic area. He was greeted at the airport by Cuban President Raul Castro and Foreign Minister Bruno Ro
Published 18 Jul, 2011 12:00am
British force in Afghanistan was 'unacceptably' weak

British force in Afghanistan was 'unacceptably' weak

The British task force sent into Afghanistan's Helmand province in 2006 was badly equipped, under-manned and not strong enough to take on the Taliban, a scathing government report concluded Sunday.
Published 18 Jul, 2011 12:00am
Bahrain's main opposition quits national dialogue

Bahrain's main opposition quits national dialogue

Bahrain's largest Shia opposition group Wefaq said on Sunday it planned to pull out of a national dialogue, which was aimed at reforms after mass pro-democracy protests rocked the Gulf island kingdom earlier this year.
Published 18 Jul, 2011 12:00am
'Harry Potter' rings up record $168 million box office

'Harry Potter' rings up record $168 million box office

The final "Harry Potter" film shattered box office records with $168.6 million in ticket sales over its debut weekend, the best three-day opening ever in the United States and Canada, distributor Warner Bros. said on Sunday.
Published 18 Jul, 2011 12:00am
Blood tests for tuberculosis are unreliable: WHO

Blood tests for tuberculosis are unreliable: WHO

Widely used blood tests to detect tuberculosis are "dangerous" to patients because they are unreliable and can produce wrong results, the World Health Organisation warned Sunday. The UN health agency said it will issue an unprecedented recommendation agai
Published 18 Jul, 2011 12:00am
Saudi detains two Omani women drivers

Saudi detains two Omani women drivers

Two Omani women were detained for driving in Saudi Arabia, where women are not allowed to take to the wheel, Saudi media reported on Sunday. Police detained the two women drivers travelling with their families on the road connecting the capital Riyadh to
Published 18 Jul, 2011 12:00am
Yemenis mark Saleh anniversary with Taez demonstration

Yemenis mark Saleh anniversary with Taez demonstration

Tens of thousands of Yemenis marched through the country's second city Taez on Sunday in what they called a "day of rage" against President Ali Abdallah Saleh on the anniversary of his rise to power in 1978.
Published 18 Jul, 2011 12:00am
Syrian forces surround protesting eastern town

Syrian forces surround protesting eastern town

Syrian tanks surrounded a town near the border with Iraq's Sunni heartland on Sunday after tens of thousands, emboldened by defections among security forces, took to the streets there denouncing President Bashar al-Assad, residents said. Assad, from the m
Published 18 Jul, 2011 12:00am
Libyan rebels fighting to re-take eastern oil town

Libyan rebels fighting to re-take eastern oil town

Libyan rebel forces on Sunday entered the oil town of Brega and fought street battles there with forces loyal to Muammar Qadhafi, a rebel spokesman said, in the biggest offensive in eastern Libya in weeks.
Published 18 Jul, 2011 12:00am
Thousands march in Turkey against Kurdish rebels

Thousands march in Turkey against Kurdish rebels

Thousands of people have marched in several Turkish cities to denounce a Kurdish rebel attack that killed 13 soldiers. The state-run Anatolia news agency says protesters, carrying Turkish flags and chanting slogans against the Kurdish rebels, marched in I
Published 18 Jul, 2011 12:00am
Iranian forces kill five Kurdish rebels in raid

Iranian forces kill five Kurdish rebels in raid

Iran's official news agency says the country's Revolutionary Guard has killed five Kurdish rebels in a raid that destroyed one of the group's headquarters in north-western Iran. IRNA`says the operation began Saturday night and ended early Sunday morning a
Published 18 Jul, 2011 12:00am
Seven hurt in Israeli raid on Gaza

Seven hurt in Israeli raid on Gaza

Seven people were wounded in Gaza on Sunday by what Palestinian medical sources said was an Israeli air strike, but Israel denied it had carried out any such raid. Adham Abu Selmiya, spokesman for the Hamas-run medical services in the Gaza Strip, said fou
Published 18 Jul, 2011 12:00am
UN makes first aid airlift to rebel-held Somalia region

UN makes first aid airlift to rebel-held Somalia region

The UN said Sunday it had made its first delivery of aid to a rebel-held Somalia region in two years, as calls mounted for more international help to deal with the devastating drought in the Horn of Africa.
Published 18 Jul, 2011 12:00am
Citadel Capital says first-quarter net loss widens

Citadel Capital says first-quarter net loss widens

Egyptian private equity firm Citadel Capital on Sunday reported a widened net loss in a first quarter hit by political turmoil, and said it expected weak fundraising momentum for the rest of 2011 The firm reported a loss for the January-to-March quarter o
Published 18 Jul, 2011 12:00am
Citadel Capital says first-quarter net loss widens

Citadel Capital says first-quarter net loss widens

Egyptian private equity firm Citadel Capital on Sunday reported a widened net loss in a first quarter hit by political turmoil, and said it expected weak fundraising momentum for the rest of 2011 The firm reported a loss for the January-to-March quarter o
Published 18 Jul, 2011 12:00am
Groupon amends IPO filing

Groupon amends IPO filing

Groupon Inc, the largest online daily deals company, has added 11 new underwriters for its upcoming initial public offering. J. P Morgan, Allen & Co, Bank of America Merrill Lynch, Barclays Capital, Citigroup, Deutsche Bank Securities, William Blair & Co,
Published 18 Jul, 2011 12:00am
Middle East markets: Egypt gains; Kuwait slumps

Middle East markets: Egypt gains; Kuwait slumps

Egypt's index made its biggest one-day gain in 15 weeks as a cabinet reshuffle on Sunday boosted hopes for an improved investment climate, while Agility dragged Kuwait's bourse to a seven-year low. Egypt's main index jumped 3.3 percent, its biggest daily
Published 18 Jul, 2011 12:00am
Global Markets Weekahead: debt crises complicating investment process

Global Markets Weekahead: debt crises complicating investment process

The escalating debt crises on both sides of the Atlantic are complicating the process of investment decision making for the latter half of 2011 as sovereign default fears grow against the backdrop of a world economy still growing at a reasonable pace.
Published 18 Jul, 2011 12:00am
Romania Petrom share offer going well

Romania Petrom share offer going well

The sale of a stake in Romania's top oil and gas group Petrom has attracted strong interest, Angelo Morganti, head of equity corporate finance at Renaissance Capital said on Sunday. Romania is selling 9.8 percent of Petrom in the largest transaction on it
Published 18 Jul, 2011 12:00am
Romania Petrom share offer going well

Romania Petrom share offer going well

The sale of a stake in Romania's top oil and gas group Petrom has attracted strong interest, Angelo Morganti, head of equity corporate finance at Renaissance Capital said on Sunday. Romania is selling 9.8 percent of Petrom in the largest transaction on it
Published 18 Jul, 2011 12:00am
Australia's Collins Foods prices IPO at bottom of range

Australia's Collins Foods prices IPO at bottom of range

Australian fast-food group Collins Foods, owned by buyout firm Pacific Equity Partners, has priced its initial public offering at the bottom of the planned range, raising A$201.7 million, but still making it the largest IPO in the local market this year.
Published 18 Jul, 2011 12:00am
Shift in petrodollar investment to unnerve Western markets

Shift in petrodollar investment to unnerve Western markets

The long-standing support from petrodollars for Western financial markets is gradually waning as oil-rich countries favour recycling their windfall revenues closer to home and away from low-yielding developed economies mired in the debt crisis.
Published 18 Jul, 2011 12:00am
Shift in petrodollar investment to unnerve Western markets

Shift in petrodollar investment to unnerve Western markets

The long-standing support from petrodollars for Western financial markets is gradually waning as oil-rich countries favour recycling their windfall revenues closer to home and away from low-yielding developed economies mired in the debt crisis.
Published 18 Jul, 2011 12:00am
Wall Street Weekahead: stocks stymied without a US debt deal

Wall Street Weekahead: stocks stymied without a US debt deal

US stocks will be hard pressed to turn the tide of recent selling next week as political jousting over raising the United States' debt ceiling intensifies. The benchmark S&P 500 index this week recorded its worst weekly loss in five weeks.
Published 18 Jul, 2011 12:00am
Tokyo shares seen to recover after week of turmoil

Tokyo shares seen to recover after week of turmoil

Tokyo shares may enjoy a rebound from this week's losses as the yen stabilises and investor fears potentially ease next week over debt woes in Europe and the United States, analysts said Friday. Shares felt the impact of the eurozone crisis and downgrade
Published 18 Jul, 2011 12:00am
Indonesia sees strong FX to help tackle capital flows

Indonesia sees strong FX to help tackle capital flows

The Indonesian rupiah has room to rise further to help tackle inflationary pressures arising from strong capital inflows, a central bank deputy governor said on Thursday. Budi Mulya told Reuters that a strong rupiah was a key component of the central bank
Published 18 Jul, 2011 12:00am
Spain will avoid Black Monday on markets: EBA

Spain will avoid Black Monday on markets: EBA

Markets won't punish Spain on Monday even though the majority of banks that failed Europe-wide stress tests were Spanish, the head of the European Banking Authority said in an interview. Spain submitted nearly all its banks to the tests, unlike other Euro
Published 18 Jul, 2011 12:00am
Barclays admits cutting jobs in India

Barclays admits cutting jobs in India

Barclays Plc has cut jobs in India as a result of merging the client relationship teams of its commercial and investment banking units, a company spokeswoman said on Sunday.
Published 18 Jul, 2011 12:00am
Bangladesh to spend $6.17 billion on oil imports

Bangladesh to spend $6.17 billion on oil imports

Bangladesh will spend $6.17 billion on importing oil in the 2011-12 fiscal year, more than double the previous year, as it buys more fuel at higher cost to fire up new power plants aimed at easing electricity shortages, a senior energy official said.
Published 18 Jul, 2011 12:00am
Clinton backs Greek strategy on debt crisis

Clinton backs Greek strategy on debt crisis

Secretary of State Hillary Clinton on Sunday voiced strong US support for Greece's battle to overcome its debt crisis, saying it was taking the difficult steps required for future growth.
Published 18 Jul, 2011 12:00am
ECB would reject Greek bonds as collateral: Trichet

ECB would reject Greek bonds as collateral: Trichet

The European Central Bank's chief said it could not accept defaulted bonds as collateral and that governments would have to intervene and correct things were Greece government debt to be rated as a default.
Published 18 Jul, 2011 12:00am
ECB would reject Greek bonds as collateral: Trichet

ECB would reject Greek bonds as collateral: Trichet

The European Central Bank's chief said it could not accept defaulted bonds as collateral and that governments would have to intervene and correct things were Greece government debt to be rated as a default.
Published 18 Jul, 2011 12:00am
Australia says economy solid despite global fears

Australia says economy solid despite global fears

Australian Prime Minister Julia Gillard said on Sunday she was confident the resources-led economy would remain strong, pointing to solid Asian growth despite uncertainty from the US and Europe.
Published 18 Jul, 2011 12:00am
Global consumer confidence at lowest since late 2009: Nielsen

Global consumer confidence at lowest since late 2009: Nielsen

Global consumer confidence fell in the second quarter to its lowest level in a year and a half as an uncertain economic outlook, a deepening eurozone debt crisis and rising inflation made people more cautious, a survey showed on Sunday.
Published 18 Jul, 2011 12:00am
Ireland seeks euro bonds as part of crisis solution

Ireland seeks euro bonds as part of crisis solution

Ireland would like to see the eurozone issue common bonds as part of the solution to the bloc's debt crisis, the Irish deputy prime minister said on Sunday. "It is an option I favour. It is one of a series of options that have to be looked at," Eamon Gilm
Published 18 Jul, 2011 12:00am
Ireland seeks euro bonds as part of crisis solution

Ireland seeks euro bonds as part of crisis solution

Ireland would like to see the eurozone issue common bonds as part of the solution to the bloc's debt crisis, the Irish deputy prime minister said on Sunday. "It is an option I favour. It is one of a series of options that have to be looked at," Eamon Gilm
Published 18 Jul, 2011 12:00am
Greek debt 'on knife's edge', says IMF mission chief

Greek debt 'on knife's edge', says IMF mission chief

Greece's runaway debt is on a "knife's edge", the IMF's mission chief to Athens said in an interview on Sunday as he called for an "invigoration" of structural reforms in the vast Greek public sector. "The Greek debt is sustainable but it is, as we say, o
Published 18 Jul, 2011 12:00am
US mulls options on debt deal; time runs short

US mulls options on debt deal; time runs short

White House budget director Jack Lew said on Sunday there was still time to clinch a major deficit reduction deal and he was confident that congressional leaders know a US debt default is not an option.
Published 18 Jul, 2011 12:00am
Merkel calls for European ratings agency

Merkel calls for European ratings agency

German chancellor Angela Merkel called Sunday for the creation of a European ratings agency, on the back of recent discontent over the downgrading of some EU economies. "It is important in the medium term that Europe also has a ratings agency," she said i
Published 18 Jul, 2011 12:00am
China to pilot carbon emission exchange

China to pilot carbon emission exchange

China will pilot a carbon trading scheme and gradually build a market for emissions trading to meet pollution goals and fight climate change, the official Xinhua news agency said on Sunday.
Published 18 Jul, 2011 12:00am
Obama picks former Ohio AG to lead consumer agency

Obama picks former Ohio AG to lead consumer agency

President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to lead a new consumer financial protection bureau that was a central feature of a law that overhauled banking regulations. Obama plans to announce the nomination form
Published 18 Jul, 2011 12:00am
Niger president seeks better value for uranium

Niger president seeks better value for uranium

Niger, a major supplier of uranium to the French nuclear sector, wants a better price for its supplies, President Mahamadou Issoufou told state TV. Issoufou, who came to power after March elections that ended just over a year of military rule, said the po
Published 18 Jul, 2011 12:00am
Iran arrests another female reporter

Iran arrests another female reporter

Iran has arrested another female reporter wanting to cover the women's football World Cup in Germany, a press report said on Sunday, saying she was being held in Tehran's notorious Evin jail. Pegah Ahangarani, 27, who is also an actress and film-maker and
Published 18 Jul, 2011 12:00am
Martinez Sanchez takes Bad Gastein title

Martinez Sanchez takes Bad Gastein title

Spanish left-hander Maria Jose Martinez Sanchez won her fourth career title on Sunday, but first in 14 months, when she defeated Austria's Patricia Mayr 6-0, 7-5 in the Bad Gastein final. The 28-year-old added the Austrian title to her wins on clay at Bog
Published 18 Jul, 2011 12:00am
China's Huo wins third synchro platform gold

China's Huo wins third synchro platform gold

China's Huo Liang clinched his third successive world title in the men's 10-metres synchronised platform diving on Sunday, giving the host nation their second gold medal of the world swimming championships.
Published 18 Jul, 2011 12:00am
Clarke holds nerve to seal British Open triumph

Clarke holds nerve to seal British Open triumph

Darren Clarke held his nerve to clinch victory at the British Open here Sunday, becoming the oldest winner of the championship in 44 years as he ended his long wait for a Major. The popular 42-year-old from Northern Ireland kept his cool in demanding cond
Published 18 Jul, 2011 12:00am
Soderling sweeps aside Ferrer to win Swedish Open

Soderling sweeps aside Ferrer to win Swedish Open

Top seed Robin Soderling swept aside the challenge of Spain's David Ferrer to win the Swedish Open final 6-2 6-2 in Bastad on Sunday. The Swede, ranked fifth in the world, broke Ferrer's serve in the first game of the rain-delayed final and never looked b
Published 18 Jul, 2011 12:00am
Fourth Tour de France win for Cavendish

Fourth Tour de France win for Cavendish

Mark Cavendish delivered a textbook sprint in the finale of the 193-kms 15th stage of the Tour de France in Montpellier on Sunday to snatch his fourth victory in this year's race.
Published 18 Jul, 2011 12:00am
Bresnan, Broad picked ahead of Finn for Lord's test

Bresnan, Broad picked ahead of Finn for Lord's test

Stuart Broad and Tim Bresnan were given the nod ahead of fellow paceman Steve Finn in England's 12-man squad for Thursday's opening test of the four-match series against India at Lord's. England's new Twenty20 skipper Broad was dropped for the fifth and f
Published 18 Jul, 2011 12:00am
Raina century lifts struggling India's spirits

Raina century lifts struggling India's spirits

Suresh Raina lifted India's spirits with an unbeaten 103 against Somerset as the tourists survived with a barely-deserved draw in their only warm-up match ahead of the first Test against England.
Published 18 Jul, 2011 12:00am
Copa America quarter-final: Uruguay bury Argentina on penalties

Copa America quarter-final: Uruguay bury Argentina on penalties

Uruguay shocked hosts Argentina 5-4 on penalties Saturday to win their Copa America quarter-final after they were locked at 1-1 after extra time. Carlos Tevez, on as a late substitute, missed the crucial spotkick at the Santa Fe Stadium, nicknamed the Ele
Published 18 Jul, 2011 12:00am
Challenge for Liverpool to break into top four: Kuyt

Challenge for Liverpool to break into top four: Kuyt

Liverpool face a stiff challenge to break back into the top four of the English Premier League, Dirk Kuyt admitted on Sunday, while singling out big-money signing Stewart Downing for praise.
Published 18 Jul, 2011 12:00am
Political undercurrent to Copa venues choice

Political undercurrent to Copa venues choice

A political undercurrent is running through the choice of venues for the Copa America and as World Cup qualifiers also loom the issue is becoming increasingly controversial. The Argentine authorities decided early on to take the event out to the provinces
Published 18 Jul, 2011 12:00am
Villas-Boas vows not to make sweeping changes

Villas-Boas vows not to make sweeping changes

Chelsea manager Andre Villas-Boas has told the club's established stars that he does not plan to make sweeping changes in his first season at Stamford Bridge. Villas-Boas has been linked with a host of big-money signings since his appointment last month,
Published 18 Jul, 2011 12:00am
Apple stock looks cheap ahead of results

Apple stock looks cheap ahead of results

Apple Inc should deliver yet another bumper quarter, but some investors are holding out for a monstrous second half when the new iPhone hits and a new online content service takes wing. Solid numbers from the company's quarterly report this week could sna
Published 18 Jul, 2011 12:00am
Apple stock looks cheap ahead of results

Apple stock looks cheap ahead of results

Apple Inc should deliver yet another bumper quarter, but some investors are holding out for a monstrous second half when the new iPhone hits and a new online content service takes wing. Solid numbers from the company's quarterly report this week could sna
Published 18 Jul, 2011 12:00am
Shell seeks sale of Canadian Mackenzie gas assets

Shell seeks sale of Canadian Mackenzie gas assets

Royal Dutch Shell Plc has put its stake in the C$16.2 billion ($16.8 billion) Mackenzie gas project up for sale, the first crack in the partnership set up to develop vast reserves in Canada's Arctic and build a pipeline to take the gas south.
Published 18 Jul, 2011 12:00am
Sweden's SKF reports profit jump as sales rise

Sweden's SKF reports profit jump as sales rise

Sweden's SKF, the world's biggest maker of industrial bearings, said on July 15 its second-quarter net profit rose from the figure for the same period in 2010, largely helped by an improving automobile market.
Published 18 Jul, 2011 12:00am
Sweden's SKF reports profit jump as sales rise

Sweden's SKF reports profit jump as sales rise

Sweden's SKF, the world's biggest maker of industrial bearings, said on July 15 its second-quarter net profit rose from the figure for the same period in 2010, largely helped by an improving automobile market.
Published 18 Jul, 2011 12:00am
Vienna bourse seeks hedge fund volume boost

Vienna bourse seeks hedge fund volume boost

The Vienna Stock Exchange is looking to boost lagging volumes by attracting high-frequency trading firms alongside its traditional bank and broker members, joint-Chief Executive Michael Buhl said on July 13.
Published 18 Jul, 2011 12:00am
Vienna bourse seeks hedge fund volume boost

Vienna bourse seeks hedge fund volume boost

The Vienna Stock Exchange is looking to boost lagging volumes by attracting high-frequency trading firms alongside its traditional bank and broker members, joint-Chief Executive Michael Buhl said on July 13.
Published 18 Jul, 2011 12:00am
BNP Paribas set to launch US covered bond index

BNP Paribas set to launch US covered bond index

BNP Paribas is launching a dollar covered bond index, the first to list all non-SEC registered US dollar bonds, which will give US investors a benchmarking tool in this burgeoning market. "Indices are even more important in the US than in Europe where the
Published 18 Jul, 2011 12:00am
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