BR100 Increased By (1.9%)
BR30 Increased By (1.3%)
KSE100 Increased By (1.66%)
KSE30 Increased By (1.87%)
AGHA 7.46 Increased By ▲ 0.01 (0.13%)
BECO 5.27 Increased By ▲ 0.03 (0.57%)
BML 57.26 Increased By ▲ 0.52 (0.92%)
BOP 34.75 Increased By ▲ 1.05 (3.12%)
CNERGY 11.06 Increased By ▲ 0.05 (0.45%)
CSIL 5.83 Decreased By ▼ -0.03 (-0.51%)
FCCL 56.42 Increased By ▲ 1.28 (2.32%)
FFL 16.41 Increased By ▲ 0.31 (1.93%)
FNEL 1.20 No Change ▼ 0.00 (0%)
KEL 7.32 Increased By ▲ 0.06 (0.83%)
KOSM 6.15 Increased By ▲ 0.14 (2.33%)
LOTCHEM 27.12 Increased By ▲ 0.21 (0.78%)
MLCF 97.94 Increased By ▲ 2.01 (2.1%)
NBP 206.88 Increased By ▲ 3.60 (1.77%)
NCPL 56.42 Increased By ▲ 0.69 (1.24%)
NPL 65.77 Increased By ▲ 0.72 (1.11%)
OGDC 316.30 Increased By ▲ 2.19 (0.7%)
PACE 10.87 Increased By ▲ 0.38 (3.62%)
PAEL 42.30 Increased By ▲ 0.38 (0.91%)
PIBTL 16.78 Increased By ▲ 0.04 (0.24%)
PPL 220.69 Increased By ▲ 2.97 (1.36%)
PRL 63.65 Increased By ▲ 0.95 (1.52%)
PTC 71.82 Increased By ▲ 0.36 (0.5%)
SSGC 27.08 Increased By ▲ 0.34 (1.27%)
TBL 9.72 Increased By ▲ 0.06 (0.62%)
TELE 8.73 Increased By ▲ 0.25 (2.95%)
TPL 19.40 Decreased By ▼ -0.58 (-2.9%)
TPLP 14.78 Decreased By ▼ -0.16 (-1.07%)
TREET 23.40 Increased By ▲ 0.33 (1.43%)
TRG 61.41 Increased By ▲ 0.74 (1.22%)
اردو
Android App
Print Edition Dollar to PKR
Daily Petrol Prices Intl Oil Prices Iran-US war Gold Rates Podcasts PSX Notices
Archive - 2011-07-29
Gunmen kill 7 zaireen in Quetta
Top News

Gunmen kill 7 zaireen in Quetta

Normal 0 false false false MicrosoftInternetExplorer4 QUETTA : At least seven zaireen have been shot dead
Published 29 Jul, 2011 08:01pm
Raisani's nephew killed in blast
Top News

Raisani's nephew killed in blast

MASTUNG: Mir Akmal Raisani, nephew of Balochistan Chief Minister Nawab Mohamnad Aslam Raisani, was killed and 23 othe
Published 29 Jul, 2011 06:49pm
European stocks close lower
Financial

European stocks close lower

LONDON : European stock markets closed lower on Friday, with London's benchmark FTSE 100 index of top shares down 0.99 p
Published 29 Jul, 2011 06:46pm
ISE-10 witnesses bullish trend
Markets

ISE-10 witnesses bullish trend

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) witnessed bullish trend here on Friday, as the index ended 30.09 points
Published 29 Jul, 2011 06:09pm
Munter calls on Sindh Governor
Top News

Munter calls on Sindh Governor

KARACHI : Sindh Governor Dr. Ishrat-ul- Ebad Khan said Friday that the present coalition had produced positive results i
Published 29 Jul, 2011 05:56pm
Gold unchanged at Rs.44,657
Markets

Gold unchanged at Rs.44,657

KARACHI : Gold closed unchanged at Rs 44,657 per 10 grams in the local market Friday, as its international price closed
Published 29 Jul, 2011 12:27pm
UBL declares 15pc dividend
Top News

UBL declares 15pc dividend

KARACHI : United Bank Limited (UBL) has posted a record consolidated profit before tax of Rs6.409 billion for half year
Published 29 Jul, 2011 12:23pm
Chinese media attack US over debt battle
Top News

Chinese media attack US over debt battle

BEIJING : Chinese media attacked the United States over its debt wrangling Friday, warning that "irresponsible" lawmak
Published 29 Jul, 2011 09:33am
MPS: expect nothing!
BR Research

MPS: expect nothing!

Government borrowing from the central bank was below zero for the outgoing year; the current account showed a surplus, the NFA to NDA ratio
Published 29 Jul, 2011 12:00am
Crutches for limping cotton?
BR Research

Crutches for limping cotton?

Cotton prices have nosedived at home and everywhere in the world. From a whopping Rs13,000 per maund in March this year, prices have stooped
Published 29 Jul, 2011 12:00am
Treasury investors playing safe
BR Research

Treasury investors playing safe

Investors behaviour in the last treasury auction, held two days back, has clearly expressed where they see the discount rate in the upcoming
Published 29 Jul, 2011 12:00am
MoC clarifies

MoC clarifies

The Ministry of Commerce on Thursday clarified its press release issued earlier regarding ban on export of meat and live animals and said that due to unprecedented hike in meat prices, it had discussed and examined the issue. It was agreed upon to submit
Published 29 Jul, 2011 12:00am
MoC clarifies

MoC clarifies

The Ministry of Commerce on Thursday clarified its press release issued earlier regarding ban on export of meat and live animals and said that due to unprecedented hike in meat prices, it had discussed and examined the issue. It was agreed upon to submit
Published 29 Jul, 2011 12:00am
MoC clarifies

MoC clarifies

The Ministry of Commerce on Thursday clarified its press release issued earlier regarding ban on export of meat and live animals and said that due to unprecedented hike in meat prices, it had discussed and examined the issue. It was agreed upon to submit
Published 29 Jul, 2011 12:00am
CJP speaks about perils of arbitrary power

CJP speaks about perils of arbitrary power

Constitutionalism imposes certain restrains on the arbitrary exercise of power by the state organs to help facilitate in establishing good governance and the use of arbitrary power is considered anathema to the rule of law. Chief Justice Iftikhar Muhammad
Published 29 Jul, 2011 12:00am
CJP speaks about perils of arbitrary power

CJP speaks about perils of arbitrary power

Constitutionalism imposes certain restrains on the arbitrary exercise of power by the state organs to help facilitate in establishing good governance and the use of arbitrary power is considered anathema to the rule of law. Chief Justice Iftikhar Muhammad
Published 29 Jul, 2011 12:00am
These are mere speculations: Prime Minister

These are mere speculations: Prime Minister

Describing the notions of a clash between institutions as mere "speculations", Prime Minister Syed Yousuf Raza Gilani on Thursday said the present government respects all the institutions. "We restored the [1973] Constitution, which is enough proof that w
Published 29 Jul, 2011 12:00am
THE RUPEE: dollar lower

THE RUPEE: dollar lower

Bullish trend was seen on the money market on Thursday as dollars' supply improved in process of trading, dealers said. The rupee rebounded as it gained 11 paisa versus dollar for buying 86.45 and picked up eight paisa for selling at 86.50, they said.
Published 29 Jul, 2011 12:00am
These are mere speculations: Prime Minister

These are mere speculations: Prime Minister

Describing the notions of a clash between institutions as mere "speculations", Prime Minister Syed Yousuf Raza Gilani on Thursday said the present government respects all the institutions. "We restored the [1973] Constitution, which is enough proof that w
Published 29 Jul, 2011 12:00am
THE RUPEE: dollar lower

THE RUPEE: dollar lower

Bullish trend was seen on the money market on Thursday as dollars' supply improved in process of trading, dealers said. The rupee rebounded as it gained 11 paisa versus dollar for buying 86.45 and picked up eight paisa for selling at 86.50, they said.
Published 29 Jul, 2011 12:00am
Confrontation with judiciary: government seeks to remove impression

Confrontation with judiciary: government seeks to remove impression

The government and its coalition partners on Thursday negated the widely held perception of a confrontation between government and judiciary and discussed matters such power/gas shortages and price hike in the country. The coalition partners also took sto
Published 29 Jul, 2011 12:00am
Confrontation with judiciary: government seeks to remove impression

Confrontation with judiciary: government seeks to remove impression

The government and its coalition partners on Thursday negated the widely held perception of a confrontation between government and judiciary and discussed matters such power/gas shortages and price hike in the country. The coalition partners also took sto
Published 29 Jul, 2011 12:00am
SCBA puts its weight behind judiciary

SCBA puts its weight behind judiciary

The Supreme Court Bar Association (SCBA) expressed has its deep concern over what it says a clash between the judiciary and executive which could result in destabilising the country and the democratic process. The SCBA Executive Committee held a meeting a
Published 29 Jul, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (July 28, 2011).

Published 29 Jul, 2011 12:00am
SCBA puts its weight behind judiciary

SCBA puts its weight behind judiciary

The Supreme Court Bar Association (SCBA) expressed has its deep concern over what it says a clash between the judiciary and executive which could result in destabilising the country and the democratic process. The SCBA Executive Committee held a meeting a
Published 29 Jul, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (July 28, 2011).

Published 29 Jul, 2011 12:00am
Sohail's removal: AGP again asked to submit written reply

Sohail's removal: AGP again asked to submit written reply

The Supreme Court Wednesday again directed Attorney General for Pakistan (AGP) to submit a written reply pertaining to the response of Prime Minister Yousuf Raza Gilani on the removal of Sohail Ahmed, Secretary Establishment, for restoring former FIA offi
Published 29 Jul, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (July 28, 2011) and for Friday (July 29, 2011).
Published 29 Jul, 2011 12:00am
Sohail's removal: AGP again asked to submit written reply

Sohail's removal: AGP again asked to submit written reply

The Supreme Court Wednesday again directed Attorney General for Pakistan (AGP) to submit a written reply pertaining to the response of Prime Minister Yousuf Raza Gilani on the removal of Sohail Ahmed, Secretary Establishment, for restoring former FIA offi
Published 29 Jul, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (July 28, 2011).

Published 29 Jul, 2011 12:00am
Loadshedding: industrialists threaten to go on strike

Loadshedding: industrialists threaten to go on strike

Emergent general body meetings of all the industrial associations of the city will be held on Saturday to decide future line of action regarding load shedding being carried out in industrial areas of the city. The industrialists have threatened to close d
Published 29 Jul, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 29 Jul, 2011 12:00am
Loadshedding: industrialists threaten to go on strike

Loadshedding: industrialists threaten to go on strike

Emergent general body meetings of all the industrial associations of the city will be held on Saturday to decide future line of action regarding load shedding being carried out in industrial areas of the city. The industrialists have threatened to close d
Published 29 Jul, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 29 Jul, 2011 12:00am
Loadshedding: industrialists threaten to go on strike

Loadshedding: industrialists threaten to go on strike

Emergent general body meetings of all the industrial associations of the city will be held on Saturday to decide future line of action regarding load shedding being carried out in industrial areas of the city. The industrialists have threatened to close d
Published 29 Jul, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (July 28, 2011).

Published 29 Jul, 2011 12:00am
Provinces allowed to build power houses: Prime Minister

Provinces allowed to build power houses: Prime Minister

Prime Minister Syed Yousuf Raza Gilani Thursday said the government was undertaking both long and short term measures to resolve the serious issue of energy shortage and had allowed provinces to build their own power houses, to meet the shortfall.
Published 29 Jul, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (July 28, 2011) and the forecast for Friday (July 29, 2011).

Published 29 Jul, 2011 12:00am
Provinces allowed to build power houses: Prime Minister

Provinces allowed to build power houses: Prime Minister

Prime Minister Syed Yousuf Raza Gilani Thursday said the government was undertaking both long and short term measures to resolve the serious issue of energy shortage and had allowed provinces to build their own power houses, to meet the shortfall.
Published 29 Jul, 2011 12:00am
Provinces allowed to build power houses: Prime Minister

Provinces allowed to build power houses: Prime Minister

Prime Minister Syed Yousuf Raza Gilani Thursday said the government was undertaking both long and short term measures to resolve the serious issue of energy shortage and had allowed provinces to build their own power houses, to meet the shortfall.
Published 29 Jul, 2011 12:00am
SSGC restores gas supply to KESC

SSGC restores gas supply to KESC

Supply to Karachi Electric Supply Company (KESC) by Sui Southern Gas Company (SSGC) has been restored after the intervention of Federal Minister for Petroleum Dr Asim Hussain, a private TV channel reported Thursday. According to the channel, Sui Southern
Published 29 Jul, 2011 12:00am
SSGC restores gas supply to KESC

SSGC restores gas supply to KESC

Supply to Karachi Electric Supply Company (KESC) by Sui Southern Gas Company (SSGC) has been restored after the intervention of Federal Minister for Petroleum Dr Asim Hussain, a private TV channel reported Thursday. According to the channel, Sui Southern
Published 29 Jul, 2011 12:00am
SSGC restores gas supply to KESC

SSGC restores gas supply to KESC

Supply to Karachi Electric Supply Company (KESC) by Sui Southern Gas Company (SSGC) has been restored after the intervention of Federal Minister for Petroleum Dr Asim Hussain, a private TV channel reported Thursday. According to the channel, Sui Southern
Published 29 Jul, 2011 12:00am
LSE-25 index loses 48.99 points

LSE-25 index loses 48.99 points

Bears dominated the proceedings at Lahore Stock Exchange where equities showed negative signs amid slight surge in the transaction volume on Thursday. The LSE-25 index moved down to 3081.37 points against the 3130.36 points of Wednesday, showing a decline
Published 29 Jul, 2011 12:00am
LSE-25 index loses 48.99 points

LSE-25 index loses 48.99 points

Bears dominated the proceedings at Lahore Stock Exchange where equities showed negative signs amid slight surge in the transaction volume on Thursday. The LSE-25 index moved down to 3081.37 points against the 3130.36 points of Wednesday, showing a decline
Published 29 Jul, 2011 12:00am
ISE index down by 42.67 points

ISE index down by 42.67 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 42.67 points as the ISE Ten Index moved from 2,758.43 to 2,715.76
Published 29 Jul, 2011 12:00am
ISE index down by 42.67 points

ISE index down by 42.67 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 42.67 points as the ISE Ten Index moved from 2,758.43 to 2,715.76
Published 29 Jul, 2011 12:00am
Threat to Shahbaz's life?

Threat to Shahbaz's life?

An intelligence agency has warned of a plot to kill Punjab Chief Minister Muhammad Shahbaz Sharif. According to a private television channel, a letter has been sent to apprise the Punjab government of the conspiracy. The letter was sent to the chief minis
Published 29 Jul, 2011 12:00am
Threat to Shahbaz's life?

Threat to Shahbaz's life?

An intelligence agency has warned of a plot to kill Punjab Chief Minister Muhammad Shahbaz Sharif. According to a private television channel, a letter has been sent to apprise the Punjab government of the conspiracy. The letter was sent to the chief minis
Published 29 Jul, 2011 12:00am
Libyan rebels say their military chief shot dead

Libyan rebels say their military chief shot dead

The head of the Libyan rebels' military campaign against Muammar Gaddafi was shot dead by assailants on Thursday, the top rebel leader said. Libyan rebel leader Mustafa Abdel Jalil said Abdel Fattah Younes was killed by assailants after he had been summon
Published 29 Jul, 2011 12:00am
Libyan rebels say their military chief shot dead

Libyan rebels say their military chief shot dead

The head of the Libyan rebels' military campaign against Muammar Gaddafi was shot dead by assailants on Thursday, the top rebel leader said. Libyan rebel leader Mustafa Abdel Jalil said Abdel Fattah Younes was killed by assailants after he had been summon
Published 29 Jul, 2011 12:00am
Aaj TV tenders apology to Supreme Court

Aaj TV tenders apology to Supreme Court

The Management of Aaj TV offers an unconditional apology to the Hon'ble Supreme Court of Pakistan for airing of an ad by a political party in respect of a sub judice matter on 11 and 12 July 2011. The ad was aired inadvertently. The management of Aaj TV h
Published 29 Jul, 2011 12:00am
Aaj TV tenders apology to Supreme Court

Aaj TV tenders apology to Supreme Court

The Management of Aaj TV offers an unconditional apology to the Hon'ble Supreme Court of Pakistan for airing of an ad by a political party in respect of a sub judice matter on 11 and 12 July 2011. The ad was aired inadvertently. The management of Aaj TV h
Published 29 Jul, 2011 12:00am
Madoff 'feeder funds' agree $1 billion settlement

Madoff 'feeder funds' agree $1 billion settlement

Companies accused of aiding Bernard Madoff's vast pyramid scheme have agreed to pay more than $1 billion to settle a fraud lawsuit, the trustee charged with recovering Madoff's funds said Thursday. More than a dozen investment funds and a former chief exe
Published 29 Jul, 2011 12:00am
Madoff 'feeder funds' agree $1 billion settlement

Madoff 'feeder funds' agree $1 billion settlement

Companies accused of aiding Bernard Madoff's vast pyramid scheme have agreed to pay more than $1 billion to settle a fraud lawsuit, the trustee charged with recovering Madoff's funds said Thursday. More than a dozen investment funds and a former chief exe
Published 29 Jul, 2011 12:00am
Presidency defers cotton policy finalisation

Presidency defers cotton policy finalisation

The presidency has deferred finalisation of cotton policy for current season until return of Chairman All Pakistan Textile Mills Association (APTMA) Gohar Ejaz from abroad. Reliable sources from Ministry of Textile informed Business Recorder that a
Published 29 Jul, 2011 12:00am
Presidency defers cotton policy finalisation

Presidency defers cotton policy finalisation

The presidency has deferred finalisation of cotton policy for current season until return of Chairman All Pakistan Textile Mills Association (APTMA) Gohar Ejaz from abroad. Reliable sources from Ministry of Textile informed Business Recorder that a
Published 29 Jul, 2011 12:00am
Presidency defers cotton policy finalisation

Presidency defers cotton policy finalisation

The presidency has deferred finalisation of cotton policy for current season until return of Chairman All Pakistan Textile Mills Association (APTMA) Gohar Ejaz from abroad. Reliable sources from Ministry of Textile informed Business Recorder that a
Published 29 Jul, 2011 12:00am
Moody's ties 177 local government ratings to US debt woes

Moody's ties 177 local government ratings to US debt woes

The US credit crisis spread to scores of cities, counties and school districts on Thursday as Moody's Investors Service warned their top ratings could be downgraded should the federal government's Aaa rating fall.
Published 29 Jul, 2011 12:00am
Fed has 'no magic wand' in default

Fed has 'no magic wand' in default

The Federal Reserve has no magic wand to overcome the consequences of a US default on its debt, a senior Fed official said Thursday. With politicians still deadlocked over a plan to raise the country's borrowing ceiling before the make-or-break date of Au
Published 29 Jul, 2011 12:00am
Rs 61,336 fixed as 'Nisab' for Zakat deduction

Rs 61,336 fixed as 'Nisab' for Zakat deduction

The Nisab for deduction of Zakat has been raised by 106 percent due to increase in gold and silver prices. Administrator General Zakat, Ministry of Religious Affairs, has fixed Rs 61,336 as Nisab for deduction of Zakat as on Ramazan 1st.
Published 29 Jul, 2011 12:00am
Rs 61,336 fixed as 'Nisab' for Zakat deduction

Rs 61,336 fixed as 'Nisab' for Zakat deduction

The Nisab for deduction of Zakat has been raised by 106 percent due to increase in gold and silver prices. Administrator General Zakat, Ministry of Religious Affairs, has fixed Rs 61,336 as Nisab for deduction of Zakat as on Ramazan 1st.
Published 29 Jul, 2011 12:00am
Rs 61,336 fixed as ''Nisab'' for Zakat deduction

Rs 61,336 fixed as ''Nisab'' for Zakat deduction

The Nisab for deduction of Zakat has been raised by 106 percent due to increase in gold and silver prices. Administrator General Zakat, Ministry of Religious Affairs, has fixed Rs 61,336 as Nisab for deduction of Zakat as on Ramazan 1st.
Published 29 Jul, 2011 12:00am
BBC man among 21 killed in Afghan attacks

BBC man among 21 killed in Afghan attacks

Taliban bomb and gun attacks on an official's compound and a militia base in the southern Afghan province of Uruzgan killed 21 people on Thursday, including a local BBC reporter. Five hours of fighting were triggered after insurgents detonated a car bomb
Published 29 Jul, 2011 12:00am
BBC man among 21 killed in Afghan attacks

BBC man among 21 killed in Afghan attacks

Taliban bomb and gun attacks on an official's compound and a militia base in the southern Afghan province of Uruzgan killed 21 people on Thursday, including a local BBC reporter. Five hours of fighting were triggered after insurgents detonated a car bomb
Published 29 Jul, 2011 12:00am
No peace in region without settling Kashmir dispute: Fazl

No peace in region without settling Kashmir dispute: Fazl

Durable peace in the region could not be attained without resolution of Kashmir dispute, which India was delaying over the last 60 years, said Chairman Special Parliamentary Committee on Kashmir Maulana Fazl ur Rahman, here on Thursday.
Published 29 Jul, 2011 12:00am
AirBlue plane crash: CAA report could not be made public

AirBlue plane crash: CAA report could not be made public

The Civil Aviation Authority on Thursday issued a statement that its interim report regarding the worst air crash in the history of the country in which 152 persons died, could not be made public, as the meeting summoned by Prime Minister Gilani on Wednes
Published 29 Jul, 2011 12:00am
'Disappeared' still haunt Balochistan: HRW

'Disappeared' still haunt Balochistan: HRW

The abductors often show up in sleek pickup trucks, wearing civilian clothes but sometimes flanked by Paramilitary troops. They often beat and blindfold their victims before spiriting them away. And while the prisoners may wind up dead, odds are the capto
Published 29 Jul, 2011 12:00am
Prime Minister approves $90 million for restoration of Karakoram Highway

Prime Minister approves $90 million for restoration of Karakoram Highway

Prime Minister Syed Yousuf Raza Gilani on Thursday approved US $90 million for the restoration of Karakoram Highway, out of the financial help provided by the Chinese Government. The credit facility had been extended by China as part of a larger confessio
Published 29 Jul, 2011 12:00am
Islamabad Police nab six suspects

Islamabad Police nab six suspects

Islamabad Police on Thursday nabbed six persons for their alleged involvement in theft, drug peddling and recovered four laptops, three mobile phones, 1.15kg charas and three pistols from their possession, said a spokesman of Islamabad Police.
Published 29 Jul, 2011 12:00am
Honda Atlas Cars to expand export of parts in future

Honda Atlas Cars to expand export of parts in future

Pakistan's Automobile Industry has always played a commendable role in the field of manufacturing. Honda Atlas Cars (Pak) Ltd employs a staff of more than 1000 people and has achieved the mark of selling more than 180,000 units in the local market. Honda
Published 29 Jul, 2011 12:00am
Fertiliser price shoots up

Fertiliser price shoots up

Pakistan has witnessed a sharp rise in the price of fertiliser in the last 18 months as it registered an unprecedented increase of Rs 750 per bag. "A further increase of Rs 464 per bag is anticipated if the issue of gas curtailment is not settled on prior
Published 29 Jul, 2011 12:00am
Paapam opposes reduction in auto-parts duties

Paapam opposes reduction in auto-parts duties

Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) and its members have strongly opposed any reduction in auto-parts duties. It is reported that Planning Commission is presenting its recommendations to the Economic Co-ordinati
Published 29 Jul, 2011 12:00am
River Indus at Tarbela, Chashma in low flood

River Indus at Tarbela, Chashma in low flood

River Indus at Tarbela and Chashma, River Kabul at Nowshera and river Ravi at Balloki are in low flood level, Flood Warning Centre said here on Thursday. 2,55,500 cusecs water is flowing in River Indus at Tarbela and 2,63,900 cusecs at Chashma, 37,700 cus
Published 29 Jul, 2011 12:00am
Clinton telephones Zardari

Clinton telephones Zardari

US Secretary of State Ms Hillary Clinton telephoned President Asif Zardari on Thursday night. The two leaders discussed bilateral ties, regional situation and fight against militancy, Spokesperson to the President Farhatullah Babar said. Secretary Clinton
Published 29 Jul, 2011 12:00am
'World Hepatitis Day' observed

'World Hepatitis Day' observed

"World Hepatitis Day" was observed here on Thursday like other parts of the globe with a renewed pledge to continue efforts for creation of healthy society by checking the burden of diseases through promoting healthy lifestyle. To mark the day, rallies, s
Published 29 Jul, 2011 12:00am
Misleading court: LHC directs IGP to take action against SHO, SI

Misleading court: LHC directs IGP to take action against SHO, SI

The Lahore High Court here Thursday directed Punjab Inspector General of Police (IGP) to take action against SHO and sub-inspector of Raiwind police for misleading the court about recovery of 17 persons illegally detained by a kiln owner. The court issued
Published 29 Jul, 2011 12:00am
Chief Justice stresses need to uphold supremacy of Constitution

Chief Justice stresses need to uphold supremacy of Constitution

"Constitution is the basic document and main fountain of law and we need to uphold supremacy of Constitution in society," said Chief Justice Iftikhar Muhammad Chaudhry while addressing the 25-member delegation of advocates headed by Arshad Mehmood Baghoo,
Published 29 Jul, 2011 12:00am
389 violence cases against women reported in six months

389 violence cases against women reported in six months

About 389 cases of violence against women have been reported during the last six months as violence ratio has increased compared to last year in Khyber Pakhtunkhwa, said a biannual report launched by Aurat Foundation, here on Thursday.
Published 29 Jul, 2011 12:00am
Agility will bid farewell to FBR by shutting down PaCCS

Agility will bid farewell to FBR by shutting down PaCCS

Kuwait-based Agility would say farewell to Federal Board of Revenue (FBR) by finally shutting down Pakistan Automated Customs Computerised System (PaCCS) to end its over five year old uneasy association with the revenue body.
Published 29 Jul, 2011 12:00am
UAE bringing 'Magnificent 7' to Pakistan

UAE bringing 'Magnificent 7' to Pakistan

United Arab Emirates (UAE) is brining 'Magnificent 7' to Pakistan. This was disclosed by the Consul General, H.E. Suhail Bin Matar Al-Ketbi in a press release issued by Consulate of the United Arab Emirates in Karachi. This Consulate has taken this initia
Published 29 Jul, 2011 12:00am
Parts of Orangi remain tense, one killed

Parts of Orangi remain tense, one killed

Many parts of Orangi Town remained tense on Thursday after a passenger bus and a van of a private TV channel came under attack, leaving several persons injured. Following the killing of a rickshaw driver in sector 6-E of Orangi Town, armed assailants star
Published 29 Jul, 2011 12:00am
Nato oil tanker attacked in Bolan

Nato oil tanker attacked in Bolan

Unidentified armed men attacked Nato oil tanker near Mach area of district Bolan, police said. According to police, oil tanker carrying logistics for Nato forces stationed in Afghanistan on way from Karachi when gunmen opened indiscriminate fire at it nea
Published 29 Jul, 2011 12:00am
APNS flays looting, burning of newspaper copies

APNS flays looting, burning of newspaper copies

"The APNS strongly flays attempts to browbeat media by acts of vandalism, looting and burning of copies of newspapers," stated a press release of All Pakistan Newspapers Society, issued here on Thursday. The APNS was approached that some miscreants attack
Published 29 Jul, 2011 12:00am
Thai delegation visits TDAP

Thai delegation visits TDAP

A nine-member delegation from Thailand, led by Nat Pinyowattanacheep, Minister, Department of South Asian, Middle East and African Affairs visited TDAP on Thursday. The team included delegates from Thai Chamber of Commerce, Federation of Thai Industries,
Published 29 Jul, 2011 12:00am
Three departments still running as per system of SLGO

Three departments still running as per system of SLGO

Three provincial departments are still running as per system of Sindh Local Government Ordinance (SLGO) 2001, despite passage of 20 days to the promulgation of Comissionerate and Local Government System 1979, Business Recorder learnt.
Published 29 Jul, 2011 12:00am
Senate of NED university approves Rs 1,371 million recurring budget

Senate of NED university approves Rs 1,371 million recurring budget

Senate of NED University of Engineering and Technology on Thursday approved the recurring budget of Rs 1,371 million of the varsity for the year 2010-11 with a deficit of Rs 95 million. The meeting was held with Sindh Education Minister Pir Mazhar-ul-Haq
Published 29 Jul, 2011 12:00am
KESC fails to settle dues: Gas supply slashed only by 60mmcfd: SSGC

KESC fails to settle dues: Gas supply slashed only by 60mmcfd: SSGC

Sui Southern Gas Company (SSGC) has reduced its gas supply to Karachi Electric Supply Company (KESC) by 60mmcfd, ie from 180mmcfd to 120mmcfd. According to a press release issued here on Thursday, the gas utility was compelled to take this step because it
Published 29 Jul, 2011 12:00am
KESC warns of severe loadshedding

KESC warns of severe loadshedding

Karachi Electric Supply Company on Thursday raised warning bells on the sudden and unilateral decision taken by the Sui Southern Gas Company to reduce gas supply to the utility. The unannounced reduction in gas supply which started off by the dropping of
Published 29 Jul, 2011 12:00am
Hiding report of AirBlue crash in nobody's interest: CEO

Hiding report of AirBlue crash in nobody's interest: CEO

Shahid Khaqan Abbasi, Chief Executive Officer (CEO) of AirBlue has urged the Government to make the provisional report presented by investigation team of Civil Aviation Authority (CAA) public so as the people could know about the actual cause of the worst
Published 29 Jul, 2011 12:00am
Pay-raise package for doctors hailed

Pay-raise package for doctors hailed

Provincial Doctors' Association (PDA), Khyber Pakhtunkhwa has welcomed that the pay-raise package for the doctors' community of the province and called for seven percent allocation for the sector from the total fiscal budget to improve the health delivery
Published 29 Jul, 2011 12:00am
Supreme Court judgements: PML-N plans anti-government drive

Supreme Court judgements: PML-N plans anti-government drive

Pakistan Muslim League-Nawaz is planning to launch campaign against the government for what it called the govt reluctance to comply with the judgements of the Supreme Court, resulting in confrontation between the executive and judiciary, it is learnt.
Published 29 Jul, 2011 12:00am
JJVL imports 2,500 metric tons of LPG

JJVL imports 2,500 metric tons of LPG

Jamshoro Joint Venture Limited (JJVL), one of Pakistan's premier LPG producers, has imported 2,500 metric tonnes of LPG at the Engro Vopak terminal in Karachi ahead of Ramazan. "This additional availability of LPG will assist in maintaining retail prices
Published 29 Jul, 2011 12:00am
25 commodities register 13 percent increase in July

25 commodities register 13 percent increase in July

The prices of 25 commodities including poultry products, meat, vegetables, cooking oil, kitchen fuel and some pulses and fruits registered an average increase of 13 percent while 17 commodities registered an average decrease of four percent, which is too
Published 29 Jul, 2011 12:00am
Energy-efficient motor pumps to replace 11,000 tubewells: PO USAID

Energy-efficient motor pumps to replace 11,000 tubewells: PO USAID

To save 115.5 GWh of electricity per year, USAID has decided to replace 11,000 highly inefficient irrigation tubewells with more energy efficient motor-pump that will reduce the electricity consumption by 45 W, said John Morgan, Programme Officer of USAID
Published 29 Jul, 2011 12:00am
ATTA Officials asked to ensure trade of perishable items

ATTA Officials asked to ensure trade of perishable items

Federal Minister for Finance has directed the officials of Federal Board of Revenue and Ministry of Communications to ensure no hold up of perishable items meant for Afghanistan through Afghan Transit Trade. This he said while presiding over a meeting her
Published 29 Jul, 2011 12:00am
Workshop for training of journalists concludes

Workshop for training of journalists concludes

The four-day training workshop for journalists on monitoring of media rights concluded here Thursday with participation of 21 journalists from different parts of the country. Pakistan Federal Union of Journalists (PFUJ) in collaboration with International
Published 29 Jul, 2011 12:00am
Gilani's defence

Gilani's defence

Prime Minister Yousuf Raza Gilani while inaugurating the 71st annual session of the Pakistan Engineering Council in Lahore stated that the people of the country would get used to power outages, if they were scheduled. One may commend the Prime Minister's
Published 29 Jul, 2011 12:00am
Let the law take its course

Let the law take its course

The long simmering controversy between the Supreme Court and the Gilani government over the latter's persistent reluctance to implement the apex court's orders and decisions seems to be coming to a head, spawning fears of a constitutional breakdown in the
Published 29 Jul, 2011 12:00am
FBR in dire need of restitution

FBR in dire need of restitution

The Federal Board of Revenue (FBR) - apex body responsible for collecting federal taxes - has earned notoriety in all areas of management: from misreporting figures to bungling of funds, from corruption to highhandedness and from inefficiency to worthless
Published 29 Jul, 2011 12:00am
Trust: the nature of dispositive powers - II

Trust: the nature of dispositive powers - II

(1) The original case and the 'rule' in England The background facts to the Court of Appeal decision in Re Hastings-Bass may be summarised with reference to two settlements.75 The '1947 settlement' was established for the benefit of Captain Peter H
Published 29 Jul, 2011 12:00am
Current Account's surplus trend

Current Account's surplus trend

The country's current account, the difference between total exports and imports of goods, services and transfers, has switched to a surplus of $542 million from a deficit of $3.9 billion in fiscal year 2009-2010 according to data released by the State Ban
Published 29 Jul, 2011 12:00am
Norway attacks

Norway attacks

In the Norway attacks around 200 were killed. The attackers killed them because of their Muslim identity. They called Muslims all over the world terrorists and extremists. But the question is who put that label, who made the Taliban? Wasn't it Europe who
Published 29 Jul, 2011 12:00am
Lucky Cement plans to construct school in Darra Pezu

Lucky Cement plans to construct school in Darra Pezu

Lucky Cement has planned to construct a world-class primary school, near its factory in Pezu, District Lakki Marwat, in partnership with a renowned NGO, chartered by the Government of Pakistan and endorsed by the World Bank.
Published 29 Jul, 2011 12:00am
Gas producing districts to get Rs 750 million royalty: Hoti

Gas producing districts to get Rs 750 million royalty: Hoti

Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti Thursday said that local people have the first right over gas found in southern districts. Rs 750 million will be paid to producer districts this year in connection with royalty of oil and gas and t
Published 29 Jul, 2011 12:00am
720th National Day: Swiss consulate holds poster competition

720th National Day: Swiss consulate holds poster competition

There is abundant talent among the youth of Karachi and this is demonstrated by the posters submitted by 20 students of Karachi University and Indus Valley School of Art and Architecture to celebrate the 720th National Day of Switzerland. The Swiss Consul
Published 29 Jul, 2011 12:00am
Chinese ambassador appreciates BISP

Chinese ambassador appreciates BISP

Chairperson Benazir Income Support Programme (BISP) Farzana Raja said that Pak-China friendship is time-tested and the mutual co-operation between both the countries in various fields especially in social sector will be enhanced further with the passage o
Published 29 Jul, 2011 12:00am
14 Indian fishermen released

14 Indian fishermen released

Following the latest efforts of newly appointed Foreign Minister Hina Rabbani Khar to strengthen friendly relationship with neighbouring country, some 14 Indian fishermen, who were found violating Pakistani territory, have been released from Malir jail on
Published 29 Jul, 2011 12:00am
Samsung Notebook RC series unveiled

Samsung Notebook RC series unveiled

Samsung Electronics Co Ltd, a global leader in digital media and digital convergence technologies, has recently unveiled the latest Samsung Notebook RC series. With an HD LED display delivering up to 300 nit brightness, the Samsung Notebook RC series is t
Published 29 Jul, 2011 12:00am
Bank of Punjab declares profit rates

Bank of Punjab declares profit rates

The Bank of Punjab has declared the following profit rates on its various PLS Schemes for the 1st and 2nd quarters of the year 2011.

Published 29 Jul, 2011 12:00am
Bank of Punjab declares profit rates

Bank of Punjab declares profit rates

The Bank of Punjab has declared the following profit rates on its various PLS Schemes for the 1st and 2nd quarters of the year 2011.

Published 29 Jul, 2011 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold edged down further early on Thursday from the previous session's record high as investors hoped for passage of a bill to cut the US deficit, which could ease worries about a US government default or ratings downgrade. Silver dropped 2 percent as Wall
Published 29 Jul, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper prices rose on Thursday on healthy US economic data and supply worries after a declaration of force majeure at the world's biggest copper mine, but uncertainty over US debt talks capped gains. In New York, the key September COMEX contract advanced
Published 29 Jul, 2011 12:00am
US MIDDAY: corn and wheat down

US MIDDAY: corn and wheat down

Chicago Board of Trade corn futures fell to session lows in late morning trading on Thursday due to forecasts for crop-boosting rains in the US Midwest, traders said. The drop in corn weighed on wheat futures, which turned lower after trading higher for m
Published 29 Jul, 2011 12:00am
US MIDDAY: sugar crumbles

US MIDDAY: sugar crumbles

Raw sugar futures on ICE tumbled in thin dealings early on Thursday, on stop-loss sales and investment liquidation as ample supplies and a dearth of cash interest finally took its toll on the sweetener. ICE raw sugar futures had been rangebound since the
Published 29 Jul, 2011 12:00am
Gold rises in Europe

Gold rises in Europe

Gold firmed a touch on Thursday, lifted by concerns over a potential US debt default as lawmakers in Washington argued over deficit-cutting measures, and lingering fears that the eurozone debt crisis could spread. Prices briefly rose above $1,620 an ounce
Published 29 Jul, 2011 12:00am
Gold little changed in Asia

Gold little changed in Asia

Spot gold took a breather on Thursday after hitting record highs for two sessions this week, while sentiment remained supported by the deadlocked US debt ceiling talks. Spot gold was little changed at $1,613.69 an ounce by 0641 GMT, off an all-time high o
Published 29 Jul, 2011 12:00am
US gold falls

US gold falls

Gold fell on Wednesday after hitting record highs on growing fears of a US default, as technical weakness, a rallying dollar and a broad sell-off of riskier assets prompted bullion investors to take profits. Gold volatility rose as trading volume hit its
Published 29 Jul, 2011 12:00am
Liffe coffee, sugar and cocoa down

Liffe coffee, sugar and cocoa down

Sugar futures edged lower on Thursday below 5-month peaks, weighed by improved flows of export sugar from Brazil, while coffee slipped on technical weakness. "Brazil is now at the peak of its harvest and you should be seeing a lot of Brazil selling and it
Published 29 Jul, 2011 12:00am
Malaysian palm oil drops

Malaysian palm oil drops

Malaysian palm oil futures fell half a percent on Thursday as concerns over a looming global debt crisis and improved weather for parched US soy crops prompted investors to cut back positions. A possible US credit rating downgrade has weighed on financial
Published 29 Jul, 2011 12:00am
New York cocoa and sugar rise

New York cocoa and sugar rise

US cocoa futures closed higher in heavy volume on Wednesday, on September/December spreading while heavy exports out of West Africa contributed to the market's steepest open interest in more than three years. Arabica coffee futures closed lower on chart-b
Published 29 Jul, 2011 12:00am
Tokyo, Shanghai rubber down

Tokyo, Shanghai rubber down

Tokyo rubber futures fell 2.5 percent on Thursday as concerns about the US debt stalemate encouraged players to liquidate contracts to avoid risk, with profit-taking after a recent rise adding to the downward pressure, dealers said. The benchmark rubber c
Published 29 Jul, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures settled lower Thursday on profit-taking and investor sales to end a brief surge over the last two sessions, with players keeping an eye on the unresolved US debt crisis, analysts said. The key December cotton futures on ICE Futures US fell
Published 29 Jul, 2011 12:00am
Oil edges up on storm, but debt woes curb gains

Oil edges up on storm, but debt woes curb gains

Oil edged up on Thursday as a tropical storm heading toward the Texas coast forced producers in the Gulf of Mexico to begin shutting in production and evacuating support staff. Gains were limited as uncertainty over Washington's ability to agree on a plan
Published 29 Jul, 2011 12:00am
Chile mine supports copper; aluminium stocks up

Chile mine supports copper; aluminium stocks up

Copper prices rose on Thursday, supported by encouraging economic data from the United States and by supply worries after a force majeure was declared at the world's biggest copper mine, although further gains were capped by uncertainty about the US debt
Published 29 Jul, 2011 12:00am
Shanghai copper slips

Shanghai copper slips

The most-active October copper contract on the Shanghai Futures Exchange slipped 0.1 percent to close at 72,750 yuan per tonne on Thursday, after closing flat the previous day. Shanghai aluminium jumped 1.1 percent to 18,505 yuan. Stocks of the metal have
Published 29 Jul, 2011 12:00am
US copper falls

US copper falls

Copper closed down on Wednesday as a firmer dollar and macro-economic concerns continued to cloud near-term demand prospects and limit the bullish impact of a prolonged strike at the world's largest copper mine. In New York, the key September COMEX contra
Published 29 Jul, 2011 12:00am
Pakistan squad for Zimbabwe tour announced

Pakistan squad for Zimbabwe tour announced

Pakistani selectors rested some of their key players for next month's tour of Zimbabwe and included three uncapped players in the touring squad on Thursday. The selectors rested leading pace bowlers Umar Gul, Wahab Riaz, Tanvir Ahmed and spinner Abdul Reh
Published 29 Jul, 2011 12:00am
Second Test starts: England have moved on from jellybeans: Strauss

Second Test starts: England have moved on from jellybeans: Strauss

England captain Andrew Strauss has insisted his side are a more "mature" team than the one caught up in a backfiring jellybean stunt when they last played India at Trent Bridge four years ago. The teams have arrived at the Nottingham venue, where the seco
Published 29 Jul, 2011 12:00am
Blatter pledges 'zero tolerance' on corruption

Blatter pledges 'zero tolerance' on corruption

FIFA president Sepp Blatter has promised "zero tolerance" in the battle against corruption that has plunged the sport into a series of damaging scandals in the last 12 months. Blatter took a defiant stand as he faced the media just three days after former
Published 29 Jul, 2011 12:00am
Del Potro advances

Del Potro advances

Second-seeded Juan Martin del Potro battled past James Blake 6-4, 7-6 (7/3) Wednesday at the ATP Los Angeles hardcourt tournament as third-seeded Marcos Baghdatis was sent packing. Argentina's Del Potro, on the comeback trail after a wrist injury cut shor
Published 29 Jul, 2011 12:00am
Rio readies for World Cup preliminary draw

Rio readies for World Cup preliminary draw

The draw for the 20th World Cup will be made in Rio on Saturday as the tournament prepares to return to Brazil for the first time in 64 years. Brazil will join France, Germany, Italy and Mexico in hosting the event twice while the tournament will be the s
Published 29 Jul, 2011 12:00am
Zaheer Khan out of second Test

Zaheer Khan out of second Test

India fast bowler Zaheer Khan has been ruled out of the second Test against England at Trent Bridge with a hamstring injury, captain Mahendra Singh Dhoni said Thursday. Left-arm quick Zaheer broke down in the first Test at Lord's, which India lost by 196
Published 29 Jul, 2011 12:00am
Putin warned over match-fixing

Putin warned over match-fixing

Match-fixing is a problem in Russian football and the law must be urgently tightened ahead of the 2018 World Cup, a top official said in an open letter to Prime Minister Vladimir Putin Thursday. Sergei Stepashin, the powerful head of the national audit of
Published 29 Jul, 2011 12:00am
Lochte shatters record drought, Phelps

Lochte shatters record drought, Phelps

America's Ryan Lochte broke a 19-month record drought and deepened Michael Phelps's season of woe Thursday as he won a thrilling 200m individual medley at the world championships in Shanghai. In a high-tempo evening at Oriental Sports Centre, Australian h
Published 29 Jul, 2011 12:00am
Sharapova reaches Stanford quarter-finals

Sharapova reaches Stanford quarter-finals

Second-seeded Maria Sharapova reached the quarter-finals of the $721,000 WTA hardcourt tournament here Wednesday, setting up a possible showdown with Serena Williams. Sharapova, ranked number five in the world, defeated Slovakian Daniela Hantuchova 6-2, 2
Published 29 Jul, 2011 12:00am
China defends carrier plans, neighbours fret over build-up

China defends carrier plans, neighbours fret over build-up

China's neighbours are worried its aircraft carrier programme may in time intimidate regional rivals but its military on Thursday defended the plan as vital for maritime security. A day after China confirmed it was refitting an old Soviet vessel, and sour
Published 29 Jul, 2011 12:00am
Treasury targets Iran-backed al Qaeda network

Treasury targets Iran-backed al Qaeda network

The US Treasury Department on Thursday named six members that it said were members of an al Qaeda group operating with Iranian support and banned Americans from any dealing with them. Treasury said the group was headed by Ezedin Abdel Aziz Khalil and desc
Published 29 Jul, 2011 12:00am
Bahrain king approves reforms

Bahrain king approves reforms

Bahrain's king approved parliamentary reforms on Thursday after the suppression of pro-democracy protests, granting more powers of scrutiny for the elected lower house but preserving the dominance of an upper house aappointed by the royal elite. King Hama
Published 29 Jul, 2011 12:00am
US, North Korea hold nuclear talks

US, North Korea hold nuclear talks

The United States opened discussions Thursday with North Korea, in a move testing Pyongyang's willingness to negotiate giving up its nuclear arsenal. The US special envoy on North Korea, Stephen Bosworth, greeted North Korea's first vice foreign minister
Published 29 Jul, 2011 12:00am
US soldier arrested with bomb-making materials

US soldier arrested with bomb-making materials

A US Army soldier was arrested after police found him in a motel room near Fort Hood, Texas, with possible "bomb-making materials," authorities said on Thursday. FBI Special Agent Eric Vasys said the soldier, who was absent without leave from Fort Campbel
Published 29 Jul, 2011 12:00am
Eritrea behind AU summit attack plot: UN

Eritrea behind AU summit attack plot: UN

Eritrea was behind a plot to attack an African Union summit in Ethiopia in January and is bankrolling al Qaeda-linked Somali rebels through its embassy in Kenya, according to a UN report. A UN Monitoring Group report on Somalia and Eritrea said the Red Se
Published 29 Jul, 2011 12:00am
Nato takes control of Kosovo border crossings

Nato takes control of Kosovo border crossings

American and French peacekeepers took control of two customs posts on Kosovo's northern border with Serbia on Thursday after they were attacked by Serbs armed with firebombs, a Nato spokesman said. Captain Hans Wichter said only small vehicles are now bei
Published 29 Jul, 2011 12:00am
UN extends mission in Iraq for another year

UN extends mission in Iraq for another year

The Security Council has agreed to extend the UN mission in Iraq for another year as US troops withdraw and the country takes on more responsibility for its own security. The council said Thursday it will review the political mission's mandate in another
Published 29 Jul, 2011 12:00am
Blasts kill 15 in Tikrit

Blasts kill 15 in Tikrit

Two suicide bombers killed at least 15 people and wounded more than 30 in Iraq's Tikrit city as police and soldiers were collecting their salaries at a local bank, police and hospital officials said on Thursday. The attacks were the latest to target local
Published 29 Jul, 2011 12:00am
Cyprus cabinet quits in wake of deadly blast

Cyprus cabinet quits in wake of deadly blast

The entire cabinet of Cypriot President Dimitris Christofias, under fire after a munitions blast killed 13 people and wrecked the island's main power plant, resigned on Thursday, an official said. The 11 ministers were asked by Christofias to submit their
Published 29 Jul, 2011 12:00am
Indian cabinet drafts anti-graft bill, activists slam as weak

Indian cabinet drafts anti-graft bill, activists slam as weak

India's cabinet finished drafting on Thursday a bill aimed at curbing graft in government, but activists slammed it saying it was not tough enough to fight widespread corruption which poses a risk to economic growth. The bill seeks to set up an independen
Published 29 Jul, 2011 12:00am
South Sudan joins African Union

South Sudan joins African Union

South Sudan became the 54th member of the African Union (AU) after it received a majority vote from member states, including one from Sudan, the Pan-African bloc said Thursday. "The Commission has received the requisite number of written communications su
Published 29 Jul, 2011 12:00am
White House recruits IMF communications chief

White House recruits IMF communications chief

The International Monetary Fund on Thursday announced its top spokesperson, Caroline Atkinson, is leaving the Fund to become a special assistant to US President Barack Obama. Atkinson, the director of external relations at the Washington-based global lend
Published 29 Jul, 2011 12:00am
Islamic aid groups meet to help Somalia drought victims

Islamic aid groups meet to help Somalia drought victims

Member states of the Organisation of the Islamic Conference (OIC) gathered in Istanbul Thursday to co-ordinate an emergency response to the devastating drought in Somalia. "In such a large-scale disaster, we need to join hands together and to act collecti
Published 29 Jul, 2011 12:00am
Money markets showing early signs of stress

Money markets showing early signs of stress

Money markets are showing early signs of stress as the deadline for the United States to avoid a debt default looms although fallout is likely to be limited by the dollar's position as the global reserve currency. T-bill yields pushed higher, along with g
Published 29 Jul, 2011 12:00am
Ringgit and peso fall

Ringgit and peso fall

The Malaysian ringgit and the Philippine peso slid on Thursday as interbank speculators trimmed exposure to emerging Asian currencies on renewed concerns over debt contagion in Europe and political gridlock in Washington on how to cut the deficit. But wit
Published 29 Jul, 2011 12:00am
Indian rupee steadies

Indian rupee steadies

The Indian rupee held its ground on Thursday after a choppy trading session, tracking a volatile euro, as dollar sales by exporters offset weak local shares. The partially convertible rupee ended at 44.07/08 per dollar, little changed from Wednesday's clo
Published 29 Jul, 2011 12:00am
Aussie, New Zealand dollars gain

Aussie, New Zealand dollars gain

The New Zealand dollar rose on Thursday after the central bank warned interest rates will likely rise soon, while fears of eurozone contagion and uncertainty about US debt talks kept the Australian near a 29-year high. The kiwi dollar rose as high as $0.8
Published 29 Jul, 2011 12:00am
Swiss franc up versus euro

Swiss franc up versus euro

The Swiss franc ticked higher against the euro in early Thursday trading, holding on to strong gains in the previous session when a ratings cut on Greek debt piled further pressure on the single currency. The franc was 0.1 percent higher against the euro
Published 29 Jul, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Inter bank buy/sell rates for the taka against the dollar on Thursday. 74.65/74.75 (previous 74.66/74.75). Call Money Rates: 7.00-10.50 percent (previous 7.50-12.00 percent).
Published 29 Jul, 2011 12:00am
Dollar recovers in New York

Dollar recovers in New York

The dollar rallied on Wednesday, cushioned against declines by a lack of further news on US debt ceiling negotiations, though the uncertainty was expected to keep the rally short-lived. The dollar earlier fell to a record low against the Swiss franc and a
Published 29 Jul, 2011 12:00am
Midday trade in New York: Euro slides

Midday trade in New York: Euro slides

The euro drifted lower on Thursday as weak European data and a lacklustre Italian bond auction heightened worries about the eurozone sovereign crisis. Deadlocked US debt ceiling talks, however, looked set to limit euro losses against the dollar. In midday
Published 29 Jul, 2011 12:00am
Euro falls in London

Euro falls in London

The euro fell on Thursday as high borrowing costs at an Italian debt auction intensified concerns about the eurozone debt crisis spreading, though deadlocked US debt ceiling talks limited losses versus the dollar. Italy sold 10-year bonds but only at the
Published 29 Jul, 2011 12:00am
Euro struggles in Asia

Euro struggles in Asia

The euro struggled to find fans in Asia on Thursday, due to renewed fears of contagion in Europe, while the US dollar remained on the defensive as Washington showed no signs of progress in getting a debt agreement. The dollar and the euro both sagged agai
Published 29 Jul, 2011 12:00am
Previous Day