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Archive - 2011-07-25
Britain, India strike major trade deals
Top News

Britain, India strike major trade deals

LONDON : British and Indian businesses signed trade and investment deals worth more than $1.6 billion in London on Monda
Published 25 Jul, 2011 06:22pm
Dow to net $500mn with Saudi JV
Top News

Dow to net $500mn with Saudi JV

KHOBAR: A mammoth petrochemical joint venture between Saudi Aramco and Dow Chemical Co should net $500 million annually
Published 25 Jul, 2011 04:57pm
Sugar falls from 5mth high
Commodities

Sugar falls from 5mth high

NEW YORK: Raw sugar futures on ICE ricocheted off a five-month peak and turned lower on Monday, as profit-taking and the
Published 25 Jul, 2011 04:36pm
Gold jumps to all time high at Rs44,485
Top News

Gold jumps to all time high at Rs44,485

KARACHI: Gold jumped by Rs428 to all time high at Rs44,485 per 10 grams in the local market Monday, as its international
Published 25 Jul, 2011 02:51pm
IMF urges swift lifting of US debt limit
Top News

IMF urges swift lifting of US debt limit

WASHINGTON : The International Monetary Fund on Monday warned the United States that it faces a "severe shock" if the
Published 25 Jul, 2011 02:11pm
RIM to cut 11pc of workforce
Industry

RIM to cut 11pc of workforce

TORONTO : BlackBerry maker Research In Motion Ltd plans to cut about 11 percent of its workforce to slash costs as it st
Published 25 Jul, 2011 01:34pm
Britain, India strike major trade deals
Top News

Britain, India strike major trade deals

LONDON : Britain and India confirmed trade deals worth billions of dollars between the two countries at talks in London
Published 25 Jul, 2011 09:41am
Oil lower on US debt concerns
Energy

Oil lower on US debt concerns

SINGAPORE: Oil fell in Asian trade Monday on concerns over a possible US default if President Barack Obama and lawmakers
Published 25 Jul, 2011 06:13am
The credit tale
BR Research

The credit tale

What else can be expected from a government which spends more than it earns? Since the government is confronting the same structural challen
Published 25 Jul, 2011 12:00am
First Afghan security handover phase finishes

First Afghan security handover phase finishes

Nato troops handed over security responsibility to Afghan forces in the north-eastern province of Panjshir on Sunday, capping an initial transition phase early after it was deemed a ceremony was not needed to mark Afghan control of districts around Kabul.
Published 25 Jul, 2011 12:00am
First Afghan security handover phase finishes

First Afghan security handover phase finishes

Nato troops handed over security responsibility to Afghan forces in the north-eastern province of Panjshir on Sunday, capping an initial transition phase early after it was deemed a ceremony was not needed to mark Afghan control of districts around Kabul.
Published 25 Jul, 2011 12:00am
Thousands of federal aviation workers furloughed

Thousands of federal aviation workers furloughed

Millions of dollars in US airport taxes went uncollected Sunday while thousands federal workers were out of work for a second day, following Congress' failure last week to pass a bill keeping the country's aviation authority running.
Published 25 Jul, 2011 12:00am
Thousands of federal aviation workers furloughed

Thousands of federal aviation workers furloughed

Millions of dollars in US airport taxes went uncollected Sunday while thousands federal workers were out of work for a second day, following Congress' failure last week to pass a bill keeping the country's aviation authority running.
Published 25 Jul, 2011 12:00am
Thousands of federal aviation workers furloughed

Thousands of federal aviation workers furloughed

Millions of dollars in US airport taxes went uncollected Sunday while thousands federal workers were out of work for a second day, following Congress'' failure last week to pass a bill keeping the country''s aviation authority running.
Published 25 Jul, 2011 12:00am
Artists to be given awards during lifetime: Prime Minister

Artists to be given awards during lifetime: Prime Minister

Prime Minister, Syed Yousuf Raza Gilani on Saturday said the government fully recognises the contribution of artists in the fields of art and culture and will ensure that they are given performance awards during their lifetime. "The present government wil
Published 25 Jul, 2011 12:00am
'Rs 70 billion allocated for Southern Punjab's uplift'

'Rs 70 billion allocated for Southern Punjab's uplift'

Minister Labour Welfare Punjab, Haji Ehsaan-ud-Din Qureshi said, here on Sunday, that rupees 70 billion have been allocated for Southern Punjab in the Annual Development Programme of current financial year, which is 32 percent of the development budget wh
Published 25 Jul, 2011 12:00am
PMPG to improve public sector working

PMPG to improve public sector working

The implementation of 'Punjab Model of Proactive Governance' (PMPG) in 15 select districts of the province has helped improve service-delivery mechanism of the public sector, eradication of corruption as well as promoting realisation in government officia
Published 25 Jul, 2011 12:00am
Regularisation of 1,800 doctors demanded

Regularisation of 1,800 doctors demanded

The notification of amendment in service rules for senior doctors could not be issued despite a lapse of two weeks. The meeting of service rules committee was held under the chairmanship of Secretary Regulations, M Ilyas about two weeks ago but the regula
Published 25 Jul, 2011 12:00am
'Undeclared Third World War imposed on this part of region'

'Undeclared Third World War imposed on this part of region'

The Khyber-Pakhtunkhwa, Minister for Information, Mian Iftikhar, vowed that the government would take all possible measures for the protection of life and property of the masses, saying the ANP-party activists are on the hit-list of terrorists, but they w
Published 25 Jul, 2011 12:00am
AJK Legislative Assembly elections: PPP wins six of eight reserved seats

AJK Legislative Assembly elections: PPP wins six of eight reserved seats

Pakistan Peoples Party Azad Kashmir on Sunday won six out of eight reserved seats in the elections of AJK Legislative Assembly, raising its strength to 29 in the house of 49. Elections for the reserved seats were held here in the Assembly building on Sund
Published 25 Jul, 2011 12:00am
Soldier dies in thwarted suicide attack

Soldier dies in thwarted suicide attack

A soldier was killed on Sunday as troops foiled an attempt by a suicide bomber to attack a military checkpost near the Afghan border, officials said. The bomber's explosives detonated when he was shot outside the Chag Malai post seven kilometres (four mil
Published 25 Jul, 2011 12:00am
Kurram Agency: 11 miscreants killed during operation

Kurram Agency: 11 miscreants killed during operation

At least 11 militants were killed and five injured during security forces' operation in Kurram Agency, security forces' sources said it on Sunday. Heavy artillery was used in targeting miscreants' hideouts during security forces' operation in Sher Alizai
Published 25 Jul, 2011 12:00am
'PPP government will complete its five-year term'

'PPP government will complete its five-year term'

Federal Minister for Communications, Dr Arbab Alamgir Khan, categorically said that the PPP-led democratic government will complete its five-year constitutional period, saying that the political change on demand of some quarters is totally unjustified and
Published 25 Jul, 2011 12:00am
Ramazan-ul-Mubarak: CCPO Lahore ensures law, order maintenance

Ramazan-ul-Mubarak: CCPO Lahore ensures law, order maintenance

Capital City Police Officer (CCPO), Ahmad Raza Tahir has said that Lahore Police ought to utilise all its resources and capabilities to ensure law and order during the holy month of Ramazan. CCPO directed all divisional SPs and SHOs to ensure special patr
Published 25 Jul, 2011 12:00am
'Unscheduled loadshedding generating socio-economic problems'

'Unscheduled loadshedding generating socio-economic problems'

The vice chairman of Pakistan Hosiery Manufacturers & Exporters Association (PHMEA), North Zone, Faisal Mehboob, has urged the government to take immediate steps for clearance of duty drawback claims of garments and sportswear industry, amounting to Rs 22
Published 25 Jul, 2011 12:00am
UET cancels entry test after paper leakage

UET cancels entry test after paper leakage

University of Engineering and Technology, Lahore has cancelled entry test after a paper of the tests was leaked out and the date for the new entry test will be announced later. Entry tests were held in Lahore, Multan and Taxila under the auspicious of UET
Published 25 Jul, 2011 12:00am
Thunderstorm, rains forecast

Thunderstorm, rains forecast

Meteorological Department forecasts fairly wide spread thunderstorm/ rains with isolated heavy falls over Lahore, Gujranwala divisions and Kashmir today (Monday). Scattered thunderstorm/rains are also expected over Sargodha, Faisalabad, Sahiwal, Multan, D
Published 25 Jul, 2011 12:00am
China sacks three senior officials after high-speed train crash

China sacks three senior officials after high-speed train crash

China sacked three senior railway officials on Sunday after a collision between two high-speed trains killed at least 43 people and raised new questions about the safety of the fast-growing rail network. A bullet train on Saturday night hit another expres
Published 25 Jul, 2011 12:00am
Retired Army General John Shalikashvili dies at 75

Retired Army General John Shalikashvili dies at 75

Retired Army General John Shalikashvili, an immigrant who rose to the top job in the Pentagon where he advised President Bill Clinton over military involvement around the world, has died at age 75, the Army said in a statement.
Published 25 Jul, 2011 12:00am
70 percent want Japan to abolish nuclear power

70 percent want Japan to abolish nuclear power

Some 70 per cent of the public want Japan to eliminate nuclear power generation in the wake of the nation's worst nuclear accident, a survey said Sunday. According to the latest Kyodo News opinion survey, 70.3 per cent said they support Prime Minister Nao
Published 25 Jul, 2011 12:00am
North Korean official to go to US for nuclear talks

North Korean official to go to US for nuclear talks

A senior North Korean official will visit the United States this week to discuss the possible resumption of long-stalled international negotiations on ending Pyongyang's nuclear programs, US Secretary of State Hillary Rodham Clinton said Sunday.
Published 25 Jul, 2011 12:00am
Iran blames US, Israel for killing of scientist

Iran blames US, Israel for killing of scientist

A senior Iranian official on Sunday blamed the United States and Israel for the killing of an Iranian scientist, who the deputy interior minister said was not linked to Iran's nuclear programme as reported by media.
Published 25 Jul, 2011 12:00am
Israel's Lieberman won't quit on apology to Turkey

Israel's Lieberman won't quit on apology to Turkey

Israel's Foreign Minister Avigdor Lieberman said on Sunday he would not quit the coalition government if it decides to apologise to Turkey for killing 9 Turks aboard a pro-Palestinian activist ship last year.
Published 25 Jul, 2011 12:00am
Nato killed three civilians: Afghan officials

Nato killed three civilians: Afghan officials

Afghan officials said Sunday that Nato forces battling insurgents along an eastern highway accidentally killed three civilians who were caught in the crossfire. Nato said that local residents presented the bodies of three civilians killed. Spokesman Capt.
Published 25 Jul, 2011 12:00am
North Korea holds local polls with '98 percent' turnout

North Korea holds local polls with '98 percent' turnout

Almost all North Korean voters casted ballots on Sunday to elect representatives for local assemblies, state media said, with the polls expected to unanimously favour the ruling communist party. The vote for deputies to assemblies at provincial, city and
Published 25 Jul, 2011 12:00am
Blasts rock Tripoli, Nato targets Qadhafi compound

Blasts rock Tripoli, Nato targets Qadhafi compound

Explosions rocked central Tripoli for the second night in a row and Britain said weeks of Nato bombardment had inflicted extensive damage on Muammar Qadhafi's heavily-fortified compound. Libya's leader is clinging to power despite a four-month-old Nato ai
Published 25 Jul, 2011 12:00am
Syria tightens screws on Homs

Syria tightens screws on Homs

The Syrian army consolidated its grip on the hotbed city of Homs on Sunday, activists said, as embattled President Bashar al-Assad sacked the governor of a flashpoint province 48 hours after massive anti-regime protests.
Published 25 Jul, 2011 12:00am
Car bomb in Yemen kills nine soldiers

Car bomb in Yemen kills nine soldiers

A suicide bomber drove a booby-trapped car into an army checkpoint outside Yemen's southern port city of Aden on Sunday, killing at least nine soldiers and wounding 21 others, officials and medical sources said.
Published 25 Jul, 2011 12:00am
Italian ship seized off West African coast

Italian ship seized off West African coast

Pirates have seized an Italian tanker carrying a cargo of diesel fuel in the Gulf of Guinea off Cotonou, the economic capital of Benin in West Africa, the Italian Foreign Ministry said on Sunday. The ship, the RBD Anema e Core with a crew of 23 on board,
Published 25 Jul, 2011 12:00am
Egypt protesters dejected, but still out for change

Egypt protesters dejected, but still out for change

Hundreds of protesters were still camped out in Cairo's Tahrir Square Sunday following a night of bloody clashes with rival demonstrators loyal to the ruling military council, an AFP reporter said. Fierce battles erupted in the Abassaya neighbourhood afte
Published 25 Jul, 2011 12:00am
UAE interbank offered rates at new seven-year low

UAE interbank offered rates at new seven-year low

Interbank offered rates in the United Arab Emirates continued their slide to a fresh seven-year low on Sunday, as liquidity in the OPEC member's banking sector stayed high, also dragging one-year dirham forwards lower. Bank deposits had risen to their hig
Published 25 Jul, 2011 12:00am
Global Markets Weekahead: beyond the debt crises

Global Markets Weekahead: beyond the debt crises

A late-summer bounce beckons for stocks and other higher-risk assets if US officials can follow Europe in at least delaying a deeper crisis over growing government debt. Broadly, asset managers have so far reacted to the debt troubles on both sides of the
Published 25 Jul, 2011 12:00am
Standard sees Brazil rand bond sale this year

Standard sees Brazil rand bond sale this year

Standard Bank Group could seal by year-end the first sale of Brazil's corporate debt denominated in South Africa's currency, as the appetite grows for high-yielding assets from one of the world's fastest-growing major economies, a senior banker said.
Published 25 Jul, 2011 12:00am
Standard sees Brazil rand bond sale this year

Standard sees Brazil rand bond sale this year

Standard Bank Group could seal by year-end the first sale of Brazil's corporate debt denominated in South Africa's currency, as the appetite grows for high-yielding assets from one of the world's fastest-growing major economies, a senior banker said.
Published 25 Jul, 2011 12:00am
RBS says bond markets to remain tough in Q3

RBS says bond markets to remain tough in Q3

The second-quarter earnings of Royal Bank of Scotland's global banking and markets business will reflect the weakness in fixed-income markets due to debt woes in the eurozone, an executive said, warning bond markets will remain tough in the third quarter.
Published 25 Jul, 2011 12:00am
RBS says bond markets to remain tough in Q3

RBS says bond markets to remain tough in Q3

The second-quarter earnings of Royal Bank of Scotland's global banking and markets business will reflect the weakness in fixed-income markets due to debt woes in the eurozone, an executive said, warning bond markets will remain tough in the third quarter.
Published 25 Jul, 2011 12:00am
Wall Street Weekahead: feeling the heat on US debt, earnings

Wall Street Weekahead: feeling the heat on US debt, earnings

New York City may be frying in near record temperatures but Wall Street has been feeling the heat for months. Wrangling over the US debt ceiling and questions marks over corporate earnings mean markets are unlikely to get a break any time soon.
Published 25 Jul, 2011 12:00am
Tokyo stocks seen to gain amid earnings hopes

Tokyo stocks seen to gain amid earnings hopes

Tokyo shares are tipped to maintain their gains next week on optimism that upcoming earnings reports from major Japanese firms will illustrate a faster-than-expected recovery from the March 11 disasters.
Published 25 Jul, 2011 12:00am
Turkish lira to gain but underperforms emerging peers

Turkish lira to gain but underperforms emerging peers

Turkey's lira, which has underperformed other emerging currencies this year, will appreciate only gradually over the next year, according to a Reuters poll of analysts, held back by a gaping current account deficit.
Published 25 Jul, 2011 12:00am
Hope for gains in Colombian stock market evaporates

Hope for gains in Colombian stock market evaporates

Share issuances expected to flood Colombia's stock exchange with billions of dollars will impede a turnaround in the slumping local market, with breakeven now seen as the best-case scenario for 2011 after earlier forecasts for a 15 percent gain.
Published 25 Jul, 2011 12:00am
China's Spring Air targets $1.2 billion in IPO

China's Spring Air targets $1.2 billion in IPO

Spring Airlines aims to raise more than $1.2 billion in an initial public offering in the first quarter of 2012 as China's sole budget carrier wants to double its fleet size in the next four years, its president said on Thursday.
Published 25 Jul, 2011 12:00am
Qatar agrees to supply LNG to Malaysia for 20 years

Qatar agrees to supply LNG to Malaysia for 20 years

Qatargas agreed to supply Malaysia's Petronas LNG Ltd 1.5 million tonnes of liquefied natural gas annually for at least 20 years from 2013, the world's biggest LNG producer said on Sunday. "It is the first time Qatargas has signed a HOA (heads of agreemen
Published 25 Jul, 2011 12:00am
Abu Dhabi's UNB mandates four banks for bond

Abu Dhabi's UNB mandates four banks for bond

Union National Bank jointly owned by the governments of Abu Dhabi and Dubai, has picked four banks for investor meetings ahead of a potential dollar bond issue, two sources said on Sunday. HSBC Holdings, Standard Chartered Plc, Citigroup and Deutsche Bank
Published 25 Jul, 2011 12:00am
Abu Dhabi's UNB mandates four banks for bond

Abu Dhabi's UNB mandates four banks for bond

Union National Bank jointly owned by the governments of Abu Dhabi and Dubai, has picked four banks for investor meetings ahead of a potential dollar bond issue, two sources said on Sunday. HSBC Holdings, Standard Chartered Plc, Citigroup and Deutsche Bank
Published 25 Jul, 2011 12:00am
UAE's EMAL gets approval for $4.5 billion investment

UAE's EMAL gets approval for $4.5 billion investment

Abu Dhabi-based Emirates Aluminium (EMAL) has received approval from its board for a $4.5 billion investment that will almost double the aluminium smelter's annual capacity, the company said on Sunday. Capacity will rise to 1.3 million metric tonnes on co
Published 25 Jul, 2011 12:00am
Etisalat renews management agreement with Saudi affiliate

Etisalat renews management agreement with Saudi affiliate

UAE's Etisalat has renewed a management agreement with its Saudi Arabian affiliate Etihad Etisalat (Mobily) for five more years, the telecoms firm said in a statement on Sunday. The agreement was due to expire on December 22 this year and the renewed cont
Published 25 Jul, 2011 12:00am
Iran to ink gas agreement with Syria, Iraq

Iran to ink gas agreement with Syria, Iraq

Iran said on Sunday it reached a trilateral agreement with its allies Syria and Iraq to build a pipeline which would boost its gas exports, a senior official was quoted as saying by the media. "This contract will be signed Monday in the port city of Assal
Published 25 Jul, 2011 12:00am
US airlines fight prospect of higher security fees

US airlines fight prospect of higher security fees

US airlines are fighting the prospect of sharply higher passenger security fees that could be part of any deficit-reduction plan. The approach is among a handful involving aviation that have swirled around the ever-changing complexion of efforts by Congre
Published 25 Jul, 2011 12:00am
Credit Suisse unlikely to get help over US tax probe

Credit Suisse unlikely to get help over US tax probe

Switzerland's parliament would not vote for a second tax treaty to help settle US charges that Credit Suisse bankers helped wealthy Americans evade taxes, Swiss politicians were quoted as saying on Sunday.
Published 25 Jul, 2011 12:00am
India marks watershed economic reforms anniversary

India marks watershed economic reforms anniversary

Two decades ago, India's Prime Minister Manmohan Singh unleashed radical free-market reforms that were a watershed moment in the transformation and rise of the South Asian giant. "We shall make the future happen," declared Singh, who was then finance mini
Published 25 Jul, 2011 12:00am
Sudan launches new currency

Sudan launches new currency

Sudan launched a new currency on Sunday, six days after the newly independent south did so amid fears of a currency war, but the central bank said it was ready to negotiate with Juba on the old money. "Today we have launched the new currency in the capita
Published 25 Jul, 2011 12:00am
IBM could surpass its own map for growth: Barron's

IBM could surpass its own map for growth: Barron's

IBM could be moving ahead of its own growth outlook due in large part to its push into the developing world, according to Barron's. Last year, International Business Machines outlined its plan to deliver earnings of at least $20 per share in 2015 based on
Published 25 Jul, 2011 12:00am
US Congress 'nutters' risk global finance: UK minister

US Congress 'nutters' risk global finance: UK minister

Right-wing "nutters" in the United States Congress holding up a deal to prevent a catastrophic debt default are a greater risk to the global financial system than problems in the euro zone, a British minister said on Sunday.
Published 25 Jul, 2011 12:00am
China sees Greek crisis as investment opportunity

China sees Greek crisis as investment opportunity

Greece's debt crisis offers a good opportunity for Chinese companies to invest in the country as its privatises assets, the Chinese ambassador was quoted as saying on Sunday. An emergency summit of eurozone leaders on Thursday agreed a second bailout for
Published 25 Jul, 2011 12:00am
Clinton urges Indonesia to reduce trade barriers

Clinton urges Indonesia to reduce trade barriers

US Secretary of State Hillary Clinton on Sunday urged Indonesia to cut tariffs, saying trade between the two countries lagged behind others in Southeast Asia. She said the country of 240 million people was the biggest economy in the 10-member Association
Published 25 Jul, 2011 12:00am
Only two bidders for Lloyds branch sale

Only two bidders for Lloyds branch sale

Just two formal bids have been made for a collection of over 600 Lloyds Banking Group branches being sold by the British bank, the Sunday Times reported without citing sources. The newspaper said the sale of the 632 branches, being carried out to appease
Published 25 Jul, 2011 12:00am
Japan plans $128 billion in reconstruction bonds

Japan plans $128 billion in reconstruction bonds

The Japanese government plans to issue 10 trillion yen ($128 billion) in reconstruction bonds and cut spending by 3 trillion yen to pay for more projects to rebuild the devastated northeast, the Nikkei business daily reported on Sunday.
Published 25 Jul, 2011 12:00am
Japan plans $128 billion in reconstruction bonds

Japan plans $128 billion in reconstruction bonds

The Japanese government plans to issue 10 trillion yen ($128 billion) in reconstruction bonds and cut spending by 3 trillion yen to pay for more projects to rebuild the devastated northeast, the Nikkei business daily reported on Sunday.
Published 25 Jul, 2011 12:00am
Strike at Chile's Escondida drags on

Strike at Chile's Escondida drags on

A strike at Chile's Escondida, the world's biggest copper mine, entered a third day on Sunday with no sign of a deal to end a protest that unions are threatening to extend across the country. Escondida union leader Roberto Arriagada said mine owner BHP Bi
Published 25 Jul, 2011 12:00am
Lorgat hits back at Waugh's betting claims

Lorgat hits back at Waugh's betting claims

International Cricket Council chief executive Haroon Lorgat has hit back at Steve Waugh's claim that 56 cricketers reported illegal approaches by bookmakers to the sport's governing body last year. Former Australia captain Waugh recently claimed that the
Published 25 Jul, 2011 12:00am
Hamilton takes brilliant victory in Germany

Hamilton takes brilliant victory in Germany

An emotional and utterly-committed Lewis Hamilton produced one of the finest wins of his career on Sunday when he confirmed McLaren's renaissance with a dazzling victory in the German Grand Prix. It was the Briton's second win of the year and 16th of his
Published 25 Jul, 2011 12:00am
Zvonareva beats Pervak to win Baku title

Zvonareva beats Pervak to win Baku title

Russian top seed Vera Zvonareva clinched the inaugural 220,000-dollar WTA Baku title on Sunday, beating seventh-seeded compatriot Ksenia Pervak 6-1, 6-4 in the final. World number three Zvonareva took one hour and 23 minutes to record her second win over
Published 25 Jul, 2011 12:00am
Amir Khan knocks out Judah to win IBF crown

Amir Khan knocks out Judah to win IBF crown

Britain's Amir Khan knocked out Zab Judah in the fifth round to add the IBF junior welterweight title to his WBA super lightweight crown in Las Vegas on Saturday night. The end came with a bodyshot that crumpled Judah (41-7, 28 KOs) to his knees. The expe
Published 25 Jul, 2011 12:00am
England need nine wickets to win first Test

England need nine wickets to win first Test

England required nine further wickets to take a 1-0 lead in the four-match series against world number one side India at the close of the penultimate day of the first test at Lord's on Sunday. After wicketkeeper Matt Prior had completed his sixth test cen
Published 25 Jul, 2011 12:00am
Asia at crossroads after bin Hammam ban

Asia at crossroads after bin Hammam ban

Caretaker boss Zhang Jilong pledged to hold Asia's crisis-hit soccer body together Sunday after president Mohamed bin Hammam's life ban highlighted the sport's deep corruption problems. Zhang admitted the Asian Football Confederation (AFC) was in a "diffi
Published 25 Jul, 2011 12:00am
Asif, Imran, Sattar, Sohail advance in NBP Snooker semis

Asif, Imran, Sattar, Sohail advance in NBP Snooker semis

A pair of cueists from Punjab Imran Shehzad and Muhammad Asif and Sind's Abdul Sattar and Sohail Shehzad advanced in the semi-finals of third NBP National Ranking Snooker Championship after hard fought victories at Amir Bakhsh Billiards Hall of Karachi Cl
Published 25 Jul, 2011 12:00am
Ai Miyazato wins second Evian Masters

Ai Miyazato wins second Evian Masters

Japan's Ai Miyazato completed a stunning weekend performance to claim her second Evian Masters in three years on Sunday. After a bogey-free 67 in the third round, the 26-year-old followed up with a 70 to win by two shots on 15 under par 273 from American
Published 25 Jul, 2011 12:00am
Pakistan's 'home' series against Sri Lanka in jeopardy

Pakistan's 'home' series against Sri Lanka in jeopardy

Pakistan's 'home' series against Sri Lanka scheduled for the UAE is in jeopardy after there are reports saying that Sri Lanka Cricket (SLC) have not yet agreed to play at the chosen venues despite the arrangements have already begun.
Published 25 Jul, 2011 12:00am
China complete historic clean sweep

China complete historic clean sweep

Qiu Bo clinched China's breathtaking clean sweep of the world championships diving events Sunday as the hosts put the final seal on a decade of dominance. Qiu's last 10m platform dive - a mesmerising, backwards 2.5 somersault with 2.5 twist, in the pike p
Published 25 Jul, 2011 12:00am
Aussies smash American relay streak

Aussies smash American relay streak

Australia stunned the United States in the men's 4x100m relay on Sunday, ending a run of three straight wins and handing Michael Phelps a slow start to his last world championships. James Magnussen had the better of Phelps in the first leg and Australia's
Published 25 Jul, 2011 12:00am
Chelsea crush Thai team 4-0

Chelsea crush Thai team 4-0

English giants Chelsea nailed a convincing win against Thailand's All-Stars on Sunday, clinching a 4-0 victory in the capital Bangkok on the second match of their 15-day Asian tour. The result was a marked improvement for the Stamford Bridge team after th
Published 25 Jul, 2011 12:00am
Ki helps Celtic make winning start

Ki helps Celtic make winning start

South Korea's Ki Sung-Yeung was among the goalscorers as Celtic made a confident start to their Scottish title challenge with a 2-0 win against Hibernian in Edinburgh on Sunday. Ki netted Celtic's decisive second goal midway through the second half at Eas
Published 25 Jul, 2011 12:00am
Three rebels killed in Dagestan: Russia

Three rebels killed in Dagestan: Russia

Russian security forces killed three suspected militants in a gunfight in its restive North Caucasus province of Dagestan, authorities said on Sunday. One of the victims was Mekhtibek Bashirov, the leader of an insurgent group in the Caspian Sea city of D
Published 25 Jul, 2011 12:00am
Australia urges world to work on Somalia famine relief

Australia urges world to work on Somalia famine relief

Australia urged the international community on Sunday to rally behind the UN relief effort in the famine-struck Horn of Africa or risk hundreds of thousands of people starving to death.
Published 25 Jul, 2011 12:00am
Protest ahead of Australia, Malaysia deal

Protest ahead of Australia, Malaysia deal

Demonstrators marched to an Australian immigration detention centre Sunday to protest a planned deal with Malaysia, under which hundreds of boatpeople will be removed to the Asian nation.
Published 25 Jul, 2011 12:00am
Three Turkish soldiers killed in rebel ambush

Three Turkish soldiers killed in rebel ambush

Kurdish rebels shot dead three Turkish soldiers in an ambush late on Saturday night in a village in the south eastern province of Mardin, security sources said on Sunday. The three soldiers had been returning from the village of Ikipinar to their military
Published 25 Jul, 2011 12:00am
'Pakistan, Japan have centuries-old links'

'Pakistan, Japan have centuries-old links'

Pakistan is a cradle of civilisations and has centuries-old links with Japan through Buddhism and that has continued to strengthen and flourish over the years, Pakistan's Ambassador to Japan, Noor Muhammad Jadmani said. He was speaking to over 100 members
Published 25 Jul, 2011 12:00am
102 universities submit data for HEC ranking

102 universities submit data for HEC ranking

As many as 102 public and private universities across the country have submitted their data to Higher Education Commission (HEC) for carrying out ranking. An official of HEC told APP that all 132 public and private Higher Education Institutions (HEIs) wer
Published 25 Jul, 2011 12:00am
UN urged to address Kashmir issue

UN urged to address Kashmir issue

The Chairman of Jammu and Kashmir People's Freedom League Muhammad Farooq Rehmani expressed disappointment over the response of the Indian regime in the aftermath of a fresh wave of police terror and gang rape in the shape of brute police force against th
Published 25 Jul, 2011 12:00am
Hurriyat leaders to meet Hina

Hurriyat leaders to meet Hina

On the invitation of Pakistani High Commissioner to India, APHC Chairman, Mirwaiz Umar Farooq, veteran Kashmiri Hurriyet leader, Syed Ali Gilani, and other pro-liberation leaders will be travelling to New Delhi to meet Pakistan's Foreign Minister, Hina Ra
Published 25 Jul, 2011 12:00am
Canada arrests suspected Pakistani war criminal

Canada arrests suspected Pakistani war criminal

Canada said on Saturday it had arrested a suspected Pakistani war criminal, the second such arrest made since the government listed 30 foreigners actively sought on Canadian soil. Arshad Muhammad, 42, was arrested thanks to public tips, Public Safety Mini
Published 25 Jul, 2011 12:00am
Justice Javed Iqbal to retire on July 31

Justice Javed Iqbal to retire on July 31

Justice Javed Iqbal, the senior most judge of the Supreme Court, will retire on July 31, according to the official record of the Supreme Court. According to the bio-data of Justice Javed Iqbal, he was born on 1st August 1946.
Published 25 Jul, 2011 12:00am
Motorway police foil robbery bid

Motorway police foil robbery bid

Motorway Police late Saturday night foiled an attempt to kidnap and rob the occupants of the truck heading from Hyderabad to Karachi. A spokesman of Motorway Police told APP here on Sunday that the highway robbers intercepted the truck when it crossed the
Published 25 Jul, 2011 12:00am
Global response to floods inadequate: Islamic Relief

Global response to floods inadequate: Islamic Relief

The international community is failing to provide enough resources for Pakistan to recover from the devastating floods that struck a year ago, an aid agency said on Sunday. According to The Guardian, Islamic Relief goes on to warn that Pakistan is not suf
Published 25 Jul, 2011 12:00am
Karachi violence: HRCP to organise fact-finding team

Karachi violence: HRCP to organise fact-finding team

The Human Rights Commission of Pakistan (HRCP) has decided to organise a fact-finding team to look into the causes of violence and to discuss solutions for sustainable peace in Karachi. The HRCP mission would be in Karachi from July 29 to 31.
Published 25 Jul, 2011 12:00am
TCP clarification

TCP clarification

The Trading Corporation of Pakistan has clarified that no request for sugar supply has been received from any province.
Published 25 Jul, 2011 12:00am
President's birthday on July 26

President's birthday on July 26

The Pakistan Peoples Party (PPP) will celebrate 57th birthday of President Asif Ali Zardari on July 26. The party workers and leaders will cut cakes and pay tributes to President Zardari for the meritorious services he rendered for the party and strengthe
Published 25 Jul, 2011 12:00am
Caterpillar second quarter profits surge 44 percent

Caterpillar second quarter profits surge 44 percent

US industrial giant Caterpillar said on July 22 that second-quarter profits surged 44 percent from a year ago to $1.01 billion dollars, but the results still fell short of analysts' expectations. Revenues in the April-June period were $14.23 billion, whic
Published 25 Jul, 2011 12:00am
Caterpillar second quarter profits surge 44 percent

Caterpillar second quarter profits surge 44 percent

US industrial giant Caterpillar said on July 22 that second-quarter profits surged 44 percent from a year ago to $1.01 billion dollars, but the results still fell short of analysts' expectations. Revenues in the April-June period were $14.23 billion, whic
Published 25 Jul, 2011 12:00am
GE posts $3.76 billion profit in second quarter

GE posts $3.76 billion profit in second quarter

US conglomerate General Electric on July 22 posted better-than-expected net earnings of $3.76 billion for the second quarter, citing a rise in demand, notably in international markets. The profit was an increase of 21 percent over the same period last yea
Published 25 Jul, 2011 12:00am
Apple guns for Exxon as king of stocks

Apple guns for Exxon as king of stocks

Apple Inc. is within sight of catching up with Exxon Mobil as the most valuable company in the world. Based on Apple's growth trajectory and a number of catalysts in the pipeline - from a possible new iPhone this fall to expansions in China - investors an
Published 25 Jul, 2011 12:00am
BMW sales chief upbeat on China car sales growth

BMW sales chief upbeat on China car sales growth

BMW is banking on continued demand for luxury cars in China to boost its second half sales, albeit to a lesser degree than in the first half, the German carmaker's sales chief said.
Published 25 Jul, 2011 12:00am
Citi eyes HSBC, ICBC in retail banking push

Citi eyes HSBC, ICBC in retail banking push

Citigroup's Asian consumer banking unit is aiming to go head-on against deeply entrenched local players such as HSBC and DBS to shake up the competitive landscape. "There is a level of indifference across the industry. My philosophy is that it's an indust
Published 25 Jul, 2011 12:00am
Wells Fargo profit rises, beats estimates

Wells Fargo profit rises, beats estimates

Wells Fargo & Co, the fourth-largest US bank by assets, posted a higher quarterly profit, beating analysts' estimates, as it dipped into funds previously set aside for bad loans. The San Francisco-based company said second-quarter net income for common sh
Published 25 Jul, 2011 12:00am
Telefonica signs strategic deal with Etisalat

Telefonica signs strategic deal with Etisalat

Spain's Telefonica has signed a strategic agreement with the United Arab Emirates largest telecoms carrier Etisalat which it hopes will cut costs, the telecoms giant said on July 21. The deal, which covers joint projects in procurement, research and devel
Published 25 Jul, 2011 12:00am
Microsoft 'vault' open for dying Google Health records

Microsoft 'vault' open for dying Google Health records

Microsoft on July 18 offered its HealthVault as a new care centre for digitised medical records kept at Google's dying Health service. Google announced last month that it is pulling the plug on its free Health service because it hasn't flourished since it
Published 25 Jul, 2011 12:00am
Google search detects infected computers

Google search detects infected computers

Google on July 19 began warning some users of its popular Internet search service that their computers may be infected with a virus. Routine maintenance on one of the technology giant's data centres revealed unusual traffic from computers infected with a
Published 25 Jul, 2011 12:00am
Google+ adds online groups startup Fridge

Google+ adds online groups startup Fridge

Online groups startup Fridge said July 21 it has been bought by Google and will become part of the Internet giant's freshly-launched social network. New York City-based Fridge is closing and its small staff will become part of the Google+ team, the startu
Published 25 Jul, 2011 12:00am
Google Labs shutting down

Google Labs shutting down

Google on July 20 said it is shutting down its Labs website for creations-in-progress in order to better focus its resources and energy. Google Labs was an online playground where people could dabble with early versions of new services or products being w
Published 25 Jul, 2011 12:00am
Tech leaders ponder future of mobile devices

Tech leaders ponder future of mobile devices

The pace of innovation and change in mobile devices is so dizzying it is difficult to predict the winning platforms and products of the next few years. With that caveat, a panel of technology executives and experts nevertheless took out their crystal ball
Published 25 Jul, 2011 12:00am
China's Alibaba to launch mobile operating system

China's Alibaba to launch mobile operating system

China's leading e-commerce company Alibaba said July 22 it will launch a mobile operating system, joining industry giants Google and Apple in providing software for smartphones. The group will also unveil its first smartphone at the launch, to be held nex
Published 25 Jul, 2011 12:00am
Samsung unveils new Galaxy tab to take on iPad

Samsung unveils new Galaxy tab to take on iPad

South Korea's Samsung Electronics launched a new version of its Galaxy Tab in its home market on July 20 in a bid to lure consumers away from Apple's iPad. Samsung, the world's second-largest mobile phone maker, also said it would in August launch an upda
Published 25 Jul, 2011 12:00am
China's Internet population hits 485 million

China's Internet population hits 485 million

China's online population, already the world's largest, hit 485 million users at the end of June - up 6.1 percent from the end of 2010, a government-linked industry body said on July 19. The survey released by the China Internet Network Information Centre
Published 25 Jul, 2011 12:00am
Apple unveils new computers and new operating system

Apple unveils new computers and new operating system

Apple unveiled new versions of its Macbook Air and Mac Mini on July 20, and launched its new operating system Mac OS X Lion, a day after announcing record financial results spurred by strong sales of its popular iPhone and iPad.
Published 25 Jul, 2011 12:00am
Apple says Lion software downloads top one million mark

Apple says Lion software downloads top one million mark

Apple announced on July 21 that the new version of its Macintosh computer operating system was downloaded more than a million times in the 24 hours after it launched. Apple on July 20 unleashed its new Lion software, which boasts more than 250 added featu
Published 25 Jul, 2011 12:00am
Lookout, Verizon team up for mobile protection

Lookout, Verizon team up for mobile protection

US mobile security firm Lookout is teaming up with US telecom giant Verizon Wireless to protect smartphone users from hackers and scammers. Lookout Mobile Security and Verizon announced at the Fortune Brainstorm Tech conference in Aspen, Colorado, on July
Published 25 Jul, 2011 12:00am
Google 'to open Indonesia office before 2012'

Google 'to open Indonesia office before 2012'

Google plans to open an office in Indonesia soon as it looks to tap the country's huge growth in Internet users, the office of the country's vice president said on July 22. The announcement came after talks between Eric Schmidt, chairman of the US Interne
Published 25 Jul, 2011 12:00am
Indonesia urges ASEAN to harness Twitter, Facebook

Indonesia urges ASEAN to harness Twitter, Facebook

ASEAN must maximise the use of Twitter, Facebook and other social media to engage the region's citizens, Indonesian President Susilo Bambang Yudhoyono said on July 19. Speaking to Association of Southeast Asian Nations (ASEAN) foreign ministers on the isl
Published 25 Jul, 2011 12:00am
Opera Mini slims smartphone data streams

Opera Mini slims smartphone data streams

Opera Mini web-browsing software for smartphones has become an antidote for congested telecom networks and carrier bills that rise along with the amount of data streamed to handsets.
Published 25 Jul, 2011 12:00am
Global warming: study finds natural shields being weakened

Global warming: study finds natural shields being weakened

The soil and the ocean are being weakened as buffers against global warming, in a vicious circle with long-term implications for the climate system, say two new investigations. If the seas and the land are less able to soak up or store greenhouse gases, m
Published 25 Jul, 2011 12:00am
Chinese medicine could treat Parkinson's

Chinese medicine could treat Parkinson's

Chinese medicine may be effective in battling certain symptoms of Parkinson's disease, and lessening side effects from the drugs used to treat the condition, according to a new study. Researchers at Hong Kong Baptist University said Gouteng, a traditional
Published 25 Jul, 2011 12:00am
Buildings can make you sick

Buildings can make you sick

Working people who complain of stinging eyes, a scratchy throat, runny nose or headaches may need to look no further than their indoor workplace for the culprit. The condition is often referred to as "sick building syndrome," which seldom has a single cau
Published 25 Jul, 2011 12:00am
Sports can alleviate depression

Sports can alleviate depression

Sports can bring depressed people out of their self-imposed isolation because exercise helps to relieve anxiety and stress. According to Fritz Hohagen, executive committee member of the German Association for Psychiatry and Psychotherapy, sports make it e
Published 25 Jul, 2011 12:00am
Parents' stress tied to effect of pollution on kids

Parents' stress tied to effect of pollution on kids

Children living in high-stress households are more vulnerable to lung damage from traffic pollution than children whose parents are less stressed out, according to the results of a new study.
Published 25 Jul, 2011 12:00am
Brain swelling may be common with Alzheimer's drugs

Brain swelling may be common with Alzheimer's drugs

Three patients treated with an experimental Bristol-Myers Squibb Alzheimer's drug have developed a type of brain swelling known as vasogenic edema, but the side effect may be common in Alzheimer's patients, researchers said on July 18.
Published 25 Jul, 2011 12:00am
Lung cancer scans can be unreliable

Lung cancer scans can be unreliable

CT scans to measure lung tumours can be unreliable, potentially leading patients and doctors to believe cancer is growing when it's not, according to a study.
Published 25 Jul, 2011 12:00am
Towards the quantum leap: Thar coal

Towards the quantum leap: Thar coal

The Ministry of Finance has agreed to provide Rs 900 million to Thar Coal Gasification Project to generate a modest 100MW of power based on coal gas on an experimental basis. In April 2009, Dr Samar Mubarakmund proposed a two-step solution. One was to geo
Published 25 Jul, 2011 12:00am
Dr Fai in American court

Dr Fai in American court

A determined crusader of the Kashmiris' right of self-determination, Dr Ghulam Nabi Fai, is no secret agent; for over three decades he has been out in the open on his campaign in plain sight of the world. Working from his Washington-based Kashmir Centre,
Published 25 Jul, 2011 12:00am
Defence expenditure

Defence expenditure

Defence expenditure has increasingly come under criticism in this country mainly because it has traditionally accounted for more than a quarter of our entire current budget allocation for decades. Inexplicably, the country's 167 million people are also al
Published 25 Jul, 2011 12:00am
Pacific's Niue looks to tourism to grow population

Pacific's Niue looks to tourism to grow population

In a once-thriving village on the Pacific island of Niue, homes lie abandoned, their stucco-clad walls mildewed and crumbling as the jungle slowly reclaims them. "These villages used to be bustling with people - now you go there in the afternoon and there
Published 25 Jul, 2011 12:00am
Canadians bid farewell to Afghan hockey rink

Canadians bid farewell to Afghan hockey rink

Oblivious to warning sirens and the dull thuds of possible mortar fire, Canadian troops battle it out for a tinfoil cup at their last hockey tournament under the sweltering Afghan sun.
Published 25 Jul, 2011 12:00am
Has he perjured himself?

Has he perjured himself?

Appearing on a TV talk show to clear his name on allegation of carrying Canadian passport (among other things), a guest accepted that he got the passport when he was on a three years leave while staying in Canada. The participants of the talk show failed
Published 25 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 18 to 23, 2011)

Published 25 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 25 Jul, 2011 12:00am
20 more killed in Karachi violence

20 more killed in Karachi violence

The unabated violence continued to bedevil the city, as 20 more people were killed on Sunday amid mounting tension in many areas of the metropolis, Aaj News reported. Following the killings, Sindh home department imposed ban on pillion riding for indefini
Published 25 Jul, 2011 12:00am
20 more killed in Karachi violence

20 more killed in Karachi violence

The unabated violence continued to bedevil the city, as 20 more people were killed on Sunday amid mounting tension in many areas of the metropolis, Aaj News reported. Following the killings, Sindh home department imposed ban on pillion riding for indefini
Published 25 Jul, 2011 12:00am
THE RUPEE: downtrend persists

THE RUPEE: downtrend persists

The rupee somehow, managed to resist sharp fall against dollar on high inflows of remittances during the week ended on July 23, 2011. In the interbank deals, the rupee was down 11 paisa for buying at 86.18 and 10 paisa for selling at 86.20 against dollar.
Published 25 Jul, 2011 12:00am
THE RUPEE: downtrend persists

THE RUPEE: downtrend persists

The rupee somehow, managed to resist sharp fall against dollar on high inflows of remittances during the week ended on July 23, 2011. In the interbank deals, the rupee was down 11 paisa for buying at 86.18 and 10 paisa for selling at 86.20 against dollar.
Published 25 Jul, 2011 12:00am
ECC shelves sugar procurement plan

ECC shelves sugar procurement plan

The Economic Co-ordination Committee (ECC) of the Cabinet has shelved sugar procurement plan after the Pakistan Sugar Mills Association (PSMA) preferred to remain away from the sugar purchase tender tailored in violation of Competition Commission of Pakis
Published 25 Jul, 2011 12:00am
ECC shelves sugar procurement plan

ECC shelves sugar procurement plan

The Economic Co-ordination Committee (ECC) of the Cabinet has shelved sugar procurement plan after the Pakistan Sugar Mills Association (PSMA) preferred to remain away from the sugar purchase tender tailored in violation of Competition Commission of Pakis
Published 25 Jul, 2011 12:00am
ECC shelves sugar procurement plan

ECC shelves sugar procurement plan

The Economic Co-ordination Committee (ECC) of the Cabinet has shelved sugar procurement plan after the Pakistan Sugar Mills Association (PSMA) preferred to remain away from the sugar purchase tender tailored in violation of Competition Commission of Pakis
Published 25 Jul, 2011 12:00am
US rushes to avert disastrous default

US rushes to avert disastrous default

The White House and top lawmakers hurriedly hunted Sunday for a deal to stop the world's richest country from an unthinkable and ruinous default on its debt just hours before Asian markets were to open. "We may have a few stressful days coming up, and str
Published 25 Jul, 2011 12:00am
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