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Archive - 2011-08-11
US markets boost gains to 4pc
Financial

US markets boost gains to 4pc

NEW YORK : US equity markets boosted gains past the 4 percent mark in afternoon trade Thursday, reversing much of the
Published 11 Aug, 2011 07:52pm
Plane handed over to Libya rebels
Top News

Plane handed over to Libya rebels

BENGHAZI : A Libyan cargo plane seized by authorities in the United Arab Emirates was handed over to rebel forces in t
Published 11 Aug, 2011 06:21pm
US stocks open higher
Financial

US stocks open higher

NEW YORK: US stocks jumped sharply in opening trade Thursday, buoyed in part by a rebound in European markets as the lea
Published 11 Aug, 2011 02:47pm
US June trade gap biggest since 2008
Top News

US June trade gap biggest since 2008

WASHINGTON : The US trade deficit sharply grew in June to its widest since October 2008 as exports fell, official data
Published 11 Aug, 2011 01:07pm
China launches satellite for Pakistan
Top News

China launches satellite for Pakistan

BEIJING : China launched a communications satellite on Friday that will be used by Pakistan , the state-run Xinhua ne
Published 11 Aug, 2011 10:29am
British PM unveils anti-riot measures
Top News

British PM unveils anti-riot measures

LONDON : British Prime Minister David Cameron unveiled Thursday new measures to end the worst riots in decades, and admi
Published 11 Aug, 2011 10:20am
Two killed in Beirut blast: Police
Top News

Two killed in Beirut blast: Police

BEIRUT : A blast ripped through a parking lot in a suburb of Beirut on Thursday, killing two people, a security officia
Published 11 Aug, 2011 09:49am
Nordic stocks open higher
Financial

Nordic stocks open higher

STOCKHOLM : Stock markets across the Nordic region opened higher Thursday after falling sharply a day earlier on fears t
Published 11 Aug, 2011 08:58am
SingTel net profit down 3pc
Industry

SingTel net profit down 3pc

SINGAPORE : Singapore Telecom said Thursday its first quarter net profit fell 3.0 percent, weighed mainly by lower contr
Published 11 Aug, 2011 07:33am
Crude down in Asian trade
Energy

Crude down in Asian trade

SINGAPORE : Crude prices edged down in Asian trade on Thursday, taking a cue from diving global equities markets worried
Published 11 Aug, 2011 06:31am
Bombers kill six in Peshawar: Police
Top News

Bombers kill six in Peshawar: Police

PESHAWAR : Bombers killed up to six people on Thursday in Peshawar, where a woman suicide attacker blew herself up and
Published 11 Aug, 2011 06:01am
Five killed in Peshawar blast: Police
Top News

Five killed in Peshawar blast: Police

PESHAWAR : A planted bomb targeting a police van in Peshawar killed four policemen and a child on Thursday, officials s
Published 11 Aug, 2011 04:51am
Remittances up - PRI???
BR Research

Remittances up - PRI???

Remittances sent home by overseas Pakistanis remained uppish last month. Despite a slight month-month decline of 0.75 percent, the workers m
Published 11 Aug, 2011 12:00am
An infectious downgrade
BR Research

An infectious downgrade

Standard and Poors must be feeling god-like these days. A downgrade of US credit rating by the credit rating agency from AAA to AA+ brough
Published 11 Aug, 2011 12:00am
New provinces: PML-N stance for formation of commission ruled out

New provinces: PML-N stance for formation of commission ruled out

Former Law Minister Babar Awan Wednesday overruled the PML-N stance for formation of commission on new provinces, saying there is no constitutional provision. He was talking to media person in the pressroom of the Supreme Court, adding that question of ne
Published 11 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (August 10, 2011).

Published 11 Aug, 2011 12:00am
Educational institutes to reopen from today

Educational institutes to reopen from today

All the educational institutes working under Federal Directorate of Education (FDE) will reopen from August 11 (Thursday) after over two months long summer vacations. The vacations were started from June 1 and ended on August 10, the students will join th
Published 11 Aug, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (August 10, 2011) and the forecast for Thursday (August 11, 2011).

Published 11 Aug, 2011 12:00am
Qadirpur gas field to remain closed for one month

Qadirpur gas field to remain closed for one month

The Qadirpur gas field which supplies up to 460 MMCFD gas to Sui Southern Gas Pipeline (SNGPL) and the country's second largest gas field, covering most areas of the country will remain closed from August 28 for one month. Sources in the Ministry of Petro
Published 11 Aug, 2011 12:00am
Tax survey of posh markets 20 teams to distribute 'verification forms'

Tax survey of posh markets 20 teams to distribute 'verification forms'

The Directorate General of Intelligence and Investigation, Inland Revenue has decided to formulate 20 teams of tax officials, who would distribute 'verification forms' at all business premises in posh markets under the national tax survey to be launched i
Published 11 Aug, 2011 12:00am
Court adjourns proceedings till next month

Court adjourns proceedings till next month

The Lahore High Court adjourned the proceedings for last week of September in a petition filed by Seth Nisar. Earler his counsel contended before the court that his client has paid back 420 million but was still behind the bars.
Published 11 Aug, 2011 12:00am
'Education for all' even more remote for disabled in Pakistan: FRESH

'Education for all' even more remote for disabled in Pakistan: FRESH

Secretary General Foundation for Education and Rehabilitation of Special Children (FRESH) Ms Ashba Kamran has said that 'Education for all' still remains a distant dream and for disabled, it is even more remote in Pakistan. She said latest surveys have re
Published 11 Aug, 2011 12:00am
City School organises cleanliness campaign

City School organises cleanliness campaign

The City School in collaboration with Waste Busters is organising a four-day cleanliness campaign, "Let's Bin It!" from Thursday (today) to August 14th, 2011. The campaign is aimed at creating awareness among the public regarding the problem of littering
Published 11 Aug, 2011 12:00am
Widespread rains expected in Sindh, eastern Balochistan today

Widespread rains expected in Sindh, eastern Balochistan today

Pakistan Meteorological Department (PMD) on Wednesday forecast widespread rains for Sindh, southern Punjab and eastern Balochistan during next 24-48 hours. The Met office said this weather system has potential to produce widespread thundershowers/rains in
Published 11 Aug, 2011 12:00am
Eliminate unscheduled loadshedding

Eliminate unscheduled loadshedding

Prime Minister Yousuf Raza Gilani has taken a serious notice of unscheduled loadshedding and constituted a high-level committee to seek out-of-the-box solutions in an effort to resolve the issue. The committee is to be headed by the Minister of Finance an
Published 11 Aug, 2011 12:00am
London burns

London burns

'You lose your son, I can't describe to anyone what it feels like to lose your son' were the remarks of a shell-shocked father. His son was killed by a car along with two other Pakistani-Britons in the Winson Green area of Birmingham. They were said to be
Published 11 Aug, 2011 12:00am
VIEWPOINT: New provinces: Oh, well, the more the merrier

VIEWPOINT: New provinces: Oh, well, the more the merrier

The demand for a Seraiki province goes back a long time, gaining some fresh attention two years ago when a PML-Q senator launched a campaign for reestablishment of Bahawalpur province in its pre-One Unit form. But the issue gained momentum earlier this ye
Published 11 Aug, 2011 12:00am
Organised crime and mafia groups

Organised crime and mafia groups

An organised crime is a widespread criminal activity that is co-ordinated and controlled through a central syndicate.1 It is a syndicate of criminals who rely on their unlawful activities for income. A syndicate is a group organised for a common purpose o
Published 11 Aug, 2011 12:00am
Tech king Jobs leads Apple to world domination

Tech king Jobs leads Apple to world domination

Apple has some 50,000 workers around the world, but few of them would argue that it's a guy currently on sick leave who has done more than anyone to turn the Silicon Valley institution into the most valuable company in the world. The California-based cons
Published 11 Aug, 2011 12:00am
PTI's sit-in

PTI's sit-in

At Saturday evening time (from Iftari to Sehri) supporters of the PTI were around the parade ground, facing the Presidency and Parliament House. They carried interesting banners inscribed with slogans "Corrupt government leave Pakistan; federal and provin
Published 11 Aug, 2011 12:00am
Zardari assures minorities of equal rights

Zardari assures minorities of equal rights

President Asif Ali Zardari has said that the government stands committed to ensure equal rights for minorities as enshrined in the Constitution and the UN Declaration of Human Rights. In a message on Minorities Day, the President said the recognition and
Published 11 Aug, 2011 12:00am
'Minorities integral part of Pakistani society'

'Minorities integral part of Pakistani society'

Provincial Minister for Finance, Minorities Affairs and Human Rights, Kamran Michael here on Wednesday said that though minorities follow different religions but as Pakistanis they are as patriotic as anyone else. Reacting to celebrating August 11 as Mino
Published 11 Aug, 2011 12:00am
PCGA vows to continue strike

PCGA vows to continue strike

"We are not ready to serve as Patwari, tax agent, record keeper of the others, "Pakistan Cotton Ginners Association (PCGA) vowed to continue their strike and stopping the purchase of raw cotton (Phutti) from the growers till the withdrawal of SRO of 3.5 p
Published 11 Aug, 2011 12:00am
Chief minister urged to shelve idea of shifting bus stand

Chief minister urged to shelve idea of shifting bus stand

The Lahore Chamber of Commerce and Industry (LCCI) has appealed to the Chief Minister Punjab Mian Shahbaz Sharif to shelve the idea of shifting Badami Bagh General Bus Stand out of Lahore. This step would not only deprive the affiliated markets of their b
Published 11 Aug, 2011 12:00am
Textile industry bodies invited on August 15 for round-table moot

Textile industry bodies invited on August 15 for round-table moot

Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar has invited the textile industry associations on 15th August for a roundtable conference on prevailing cotton crisis. The roundtable conference will be he
Published 11 Aug, 2011 12:00am
Members of FRA empolyees union stage demonstration

Members of FRA empolyees union stage demonstration

The members of Federal Revenue Alliance (FRA) Employees Union staged a protest demonstration on Wednesday outside the Regional Tax Office (RTO) Lahore besides observing a partial strike to press the Federal Board of Revenue (FBR) high-ups for restoration
Published 11 Aug, 2011 12:00am
Hectic arrangements afoot to observe Independence Day

Hectic arrangements afoot to observe Independence Day

Despite the fact that Pakistan's 65th Independence Day is falling in the holy month of Ramazan, hectic preparations afoot to celebrate the day in a befitting manner. In the wake of increasing demand of buntings, Pakistani flags, banners and badges, the ma
Published 11 Aug, 2011 12:00am
'15 more model bazaars to be set up in various districts'

'15 more model bazaars to be set up in various districts'

Punjab Chief Minister Muhammad Shahbaz Sharif has said that setting up of model bazaars is a splendid project, which has provided great relief to the people. He said that not only quality essential items are available to the citizens at fixed rates in mod
Published 11 Aug, 2011 12:00am
Religious leaders to celebrate Independence Day

Religious leaders to celebrate Independence Day

Local religious leaders Mufti Hidayatullah Pasroori, Mufti Ghulam Mustafa Rizvi, Mufti Abdul Qavi and Maulana Muhammad Yasin while saying Pakistan came into being at the eve of Laila-tul-Qader, has proposed to celebrate Independence Day.
Published 11 Aug, 2011 12:00am
NBP to establish world class training centre

NBP to establish world class training centre

National Bank of Pakistan (NBP), the largest commercial Bank of the country, has taken a policy decision for long-term development of its human resources to retain its position as number one financial institution of the country.
Published 11 Aug, 2011 12:00am
Wasan orders to beef up security

Wasan orders to beef up security

Sindh Home Minister, Manzoor Hussain Wasan on Wednesday directed to beef-up security, patrolling and secret vigilance in the surroundings of mosques, imambargahs and public places, especially during timing of Tarraweeh. In this regard, he directed the IGP
Published 11 Aug, 2011 12:00am
'Creation of new provinces would weaken country'

'Creation of new provinces would weaken country'

Activists of Jamiat-e-Ulema Islam (Sami ul Haq) and Pakistan Muslim League (Qayyum Khan Group) have opposed the creation of new provinces and termed that it was a conspiracy to break the country.
Published 11 Aug, 2011 12:00am
SBI approves seven projects for subsidised financing

SBI approves seven projects for subsidised financing

Sindh Enterprise Development Fund (SEDF) is a unique and bold initiative of the Government of Sindh which will go a long way introducing value-addition technologies in the rural economy and in enhancing the income of farmers and job opportunities in the r
Published 11 Aug, 2011 12:00am
Meezan becomes first for Sukuk banking

Meezan becomes first for Sukuk banking

Meezan Bank has become the Advisor and Lead Arranger for the first ever short-term Sukuk for Kot Addu Power Company Limited (Kapco). A statement here on Wednesday said that the short term Sukuk, which can be termed as an Islamic alternative to Commercial
Published 11 Aug, 2011 12:00am
Meezan becomes first for Sukuk banking

Meezan becomes first for Sukuk banking

Meezan Bank has become the Advisor and Lead Arranger for the first ever short-term Sukuk for Kot Addu Power Company Limited (Kapco). A statement here on Wednesday said that the short term Sukuk, which can be termed as an Islamic alternative to Commercial
Published 11 Aug, 2011 12:00am
Musharraf's properties: FIA seeks more time to collect details

Musharraf's properties: FIA seeks more time to collect details

Federal Investigation Agency (FIA) has failed to submit the details of the movable and immovable property of former military dictator Pervez Musharraf and sought more time from the court to collect the details from different organisations. The Anti Terror
Published 11 Aug, 2011 12:00am
ADC of Quaid-e-Azam passes away

ADC of Quaid-e-Azam passes away

Brigadier Noor Ahmed Husain (Retd), ADC of Quaid-e-Azam Mohammad Ali Jinnah, breathed his last in Rawalpindi on Wednesday. He was 85. His Namaz-e-Janaza will be offered at 11am on Thursday at Army Graveyard, Race Course Road, Rawalpindi. Quran Khawani wil
Published 11 Aug, 2011 12:00am
Renewal of arms licences: Nadra expecting over 0.15 million applications

Renewal of arms licences: Nadra expecting over 0.15 million applications

The National Database and Registration Authority (Nadra) is expecting to receive over 150,000 applications for arms licences renewal and is making necessary changes in its arms licences software to replace the old manual arms licences with a smartcard, a
Published 11 Aug, 2011 12:00am
Prime Minister's visit to strengthen bilateral relations

Prime Minister's visit to strengthen bilateral relations

Pakistan's former ambassador to Saudi Arabia, Shahid Amin said on Wednesday that Prime Minister Gilani's visit to Saudi Arabia will further strengthen bilateral relations with brotherly countries. Talking to PTV, he said in present international scenario,
Published 11 Aug, 2011 12:00am
Khushhalibank celebrates 11th anniversary

Khushhalibank celebrates 11th anniversary

Khushhali-bank (KBL) on Wednesday celebrated its 11th anniversary. It has been an extraordinary span of time as KBL has been a catalyst to change in the ground rules for micro financing in Pakistan in the last decade. The bank celebrates its anniversary w
Published 11 Aug, 2011 12:00am
Two dengue cases reported in Lahore

Two dengue cases reported in Lahore

Only two cases of dengue were reported during the last 48 hours, says a report issued by Health Department Punjab (Communicable Diseases Cell). As per report, one patient Saqib Hafeez resident of Chauhan Park is under treatment at Surayyia Azim Hospital w
Published 11 Aug, 2011 12:00am
Disaster management: SSUET's work hailed

Disaster management: SSUET's work hailed

Sindh Government has highly appreciated the work done by Sir Syed University of Engineering and Technology (SSUET) in various fields of disaster management. In a communication to SSUET Chancellor Z. A. Nizami, the Secretary Rehabilitation Department, Prov
Published 11 Aug, 2011 12:00am
KW&SB concerned over lifting sand, silt by local company

KW&SB concerned over lifting sand, silt by local company

Karachi Water and Sewerage Board has taken a notice of lifting Reti Bajri (sand and silt) through blasting on its lands that may cause damage to underground installations in Pipri and Hub area by a local company. In this regard, Board has written a letter
Published 11 Aug, 2011 12:00am
5.7 magnitude quake hits parts of Karachi

5.7 magnitude quake hits parts of Karachi

Seismological Network of Pakistan Meteorological Department has recorded an earthquake, with a magnitude of 5.7 in some parts of Karachi on Wednesday morning. The epic centre of the quake was a site near Kharan, in Balochistan, said a Met Department's pre
Published 11 Aug, 2011 12:00am
PML-N to celebrate Independence Day with zeal, fervour

PML-N to celebrate Independence Day with zeal, fervour

Pakistan Muslim League-Nawaz (PML-N) on Wednesday unveiled a plan to celebrate the upcoming 64th Independence Day with national zeal and enthusiasm across the country. Talking to reporters outside the parliament house, PML-N leader Khawaja Saad Rafiq said
Published 11 Aug, 2011 12:00am
Police encounter: CJ LHC reserves its verdict

Police encounter: CJ LHC reserves its verdict

Chief Justice Lahore High Court on Wednesday reserved his verdict in a petition filed by Seema Bibi, mother of Asif Bhatti constable, seeking court directions to hold DIG investigation and CCPO Lahore responsible for Nishtar colony encounter instead of he
Published 11 Aug, 2011 12:00am
Nadra improves services in UAE

Nadra improves services in UAE

National Database and Registration Authority (Nadra) has improved its services in United Arab Emirates (UAE) to facilitate over 1.3 million Pakistanis living in the UAE to obtain the National Identity Card for Overseas Pakistanis (NICOP). NADRA has so far
Published 11 Aug, 2011 12:00am
Dacoits loot Rs 9.6 million from bank

Dacoits loot Rs 9.6 million from bank

Biggest bank heist of 2011 heretofore was made at SITE police limits where four armed robbers looted around Rs 9.6 million cash, including foreign currency from a private bank branch on Wednesday. This was one of eighth bank robbery incident in 2011. Poli
Published 11 Aug, 2011 12:00am
PTCL introduces Ramazan offer

PTCL introduces Ramazan offer

Pakistan Telecommunication Company Limited (PTCL) has introduced a distinctive Ramazan offer for its existing and potential landline subscribers. With PTCL special Ramazan offer landline subscribers will now get a free telephone set on every new landline
Published 11 Aug, 2011 12:00am
PSO clarification

PSO clarification

Apropos news story titled "Pepco officials face health problems due to constant stress" by Hamid Waleed appearing in August 8, 2011 edition of Business Recorder, Pakistan State Oil (PSO) strongly denies the allegations made by Pepco officials and states t
Published 11 Aug, 2011 12:00am
Trading in shares of 25 companies to remain suspended

Trading in shares of 25 companies to remain suspended

Karachi Stock Exchange (KSE) on Wednesday announced that the trading in the shares of 25 companies will remain suspended for a further period of 60 days with effect from August 11, 2011. The KSE took this decision pursuant to the directives received from
Published 11 Aug, 2011 12:00am
KSE invites bids for membership rights

KSE invites bids for membership rights

The Karachi Stock Exchange (KSE) has invited bids for the purchase of membership rights/seats of the KSE, from the eligible individuals and corporate bodies, financial institutions/banks (local and foreign). The KSE, in its notice issued here on Wednesday
Published 11 Aug, 2011 12:00am
KU announces MBBS Final exams results

KU announces MBBS Final exams results

The University of Karachi on Wednesday announced the annual results of MBBS Final, BA-I, and B.Com-I (external). In MBBS Final results, Sadia Jawaid d/o Jawaid Khaliq of Liaquat College of Medicine and Dentistry secured first position obtaining 1412 marks
Published 11 Aug, 2011 12:00am
SECP helps IOSCO combat cross-border markets' misconduct

SECP helps IOSCO combat cross-border markets' misconduct

The Securities and Exchange Commission of Pakistan (SECP) is working as full time member of the International Organisation of Securities' Commissions (IOSCO), reflecting the commission's ability to meet the accepted international standard and contribute t
Published 11 Aug, 2011 12:00am
Khar leaves for Turkey today

Khar leaves for Turkey today

Foreign Minister Hina Rabbani Khar will pay an official visit to Ankara from August 11-13 to discuss bilateral matters, issues of regional connectivity as well as the regional and global situation with her Turkish counterpart and President and Prime Minis
Published 11 Aug, 2011 12:00am
Shehla to act as speaker Sindh Assembly

Shehla to act as speaker Sindh Assembly

The Deputy Speaker, Shehla Raza, will act as Speaker of the Provincial Assembly in the absence of Nisar Ahmed Khuhro with effect from August 8, 2011. The Sindh Assembly Secretariat on Wednesday announced that the Speaker Sindh Assembly Nisar Ahmed Khuhro
Published 11 Aug, 2011 12:00am
160th anniversary: Western Union launches global network challenge

160th anniversary: Western Union launches global network challenge

Are you the world's most globally networked individual? Western Union (NYSE: WU), one of the world's most globally connected companies with 455,000 locations in 200 countries and territories, is celebrating its 160th anniversary by launching a hunt for th
Published 11 Aug, 2011 12:00am
Targeted killings: four more shot dead

Targeted killings: four more shot dead

At least four more persons including an activist of Pakistan Peoples' Party (PPP) were killed in separate incidents of targeted killings at various parts of the metropolis here on Wednesday. According to police and eyewitnesses, a 30-year-old man was gunn
Published 11 Aug, 2011 12:00am
Three injured in grenade attack

Three injured in grenade attack

At least three persons on Wednesday sustained injuries in a drive-by grenade attack that was hurled at Rice warehouse in the limits of Maripur police station. According to police, two unknown culprits, riding on a bike, threw hand grenade at Rice warehous
Published 11 Aug, 2011 12:00am
Pakistan Cables profit after tax increases

Pakistan Cables profit after tax increases

The profit after tax of Pakistan Cables Limited has increased to Rs 85.682 million in the year ended June 30, 2011 as compared to Rs 45.506 million earned in the corresponding period in 2010. The company's earning per share increased to Rs 3.34 in the per
Published 11 Aug, 2011 12:00am
Economic, political crises: PML-N holds Zardari regime responsible

Economic, political crises: PML-N holds Zardari regime responsible

Pakistan Muslim League-Nawaz deputy secretary-general Ahsan Iqbal on Wednesday blamed the poor governance for serious economic and political crisis in the country. "Zardari regime's governance has thrown the country into serious economic and political cri
Published 11 Aug, 2011 12:00am
Youths are backbone of any nation: Dr Ishrat

Youths are backbone of any nation: Dr Ishrat

Future of Pakistan lies in the youngsters, who direly needed proper education and skill development training to meet the global challenges, said Dr Ishrat Husain, Dean and Director, Institute of Business Administration. He was speaking as guest speaker at
Published 11 Aug, 2011 12:00am
PAMA criticises import policy of used vehicles

PAMA criticises import policy of used vehicles

A noticeable number of used trucks and commercial vehicles are entering the local markets under various schemes like those of gift and transfer of baggage due to relaxation in the import policy, an official of PAMA said. Under 'Special Purpose Vehicle PCT
Published 11 Aug, 2011 12:00am
Managing committee seats: KCCI annual elections on September 17

Managing committee seats: KCCI annual elections on September 17

Annual general elections of Karachi Chamber of Commerce and Industry (KCCI) for the year 2011-12 for managing committee seats will be held on September 17, 2011. Elections of office bearers will be held on September 27, 2011 and Annual general meeting wil
Published 11 Aug, 2011 12:00am
US MIDDAY: gold sets record $1,800

US MIDDAY: gold sets record $1,800

Gold climbed to a third record in a row on Wednesday, extending its biggest rally since 2008 as a dive in French bank stocks sent new shudders through anxious financial markets and US stocks skidded. Spot gold rose more than 3 percent to hit a high of $1,
Published 11 Aug, 2011 12:00am
US MIDDAY: copper drops to eight-month low

US MIDDAY: copper drops to eight-month low

Copper posted its lowest close in more than 8 months on Wednesday, as investors sold out of the industrial metal along with global equity markets in response to growing concerns about the demand outlook for metals in a slowing economy. In some cases, inve
Published 11 Aug, 2011 12:00am
US MIDDAY: sugar and cocoa retreat

US MIDDAY: sugar and cocoa retreat

Sugar and cocoa futures fell on Wednesday while coffee rose as the softs complex struggled to find its footing in a volatile market environment. Renewed risk aversion flared as it was linked to rumours of a possible downgrade in France's credit rating whi
Published 11 Aug, 2011 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

US grain futures rose on Wednesday as the US Federal Reserve's pledge to keep interest rates near zero for the next two years bolstered investor confidence in the markets. Traders also evened positions on ahead of the US Department of Agriculture's supply
Published 11 Aug, 2011 12:00am
Gold hits fresh record in Europe

Gold hits fresh record in Europe

Gold hit fresh record highs on Wednesday as US stock markets resumed their decline on concerns over the US and eurozone economies, and after the Federal Reserve said US interest rates would stay near zero for at least two years. Spot gold hit a high of $1
Published 11 Aug, 2011 12:00am
US gold rallies

US gold rallies

Gold rallied for a second day on Tuesday, hitting a record high early, then churning until it finally settled more than 1 percent higher after the Federal Reserve boosted Wall Street with a plan to keep US rates low. The spot price of gold, which tracks t
Published 11 Aug, 2011 12:00am
Liffe sugar falls

Liffe sugar falls

Sugar and cocoa futures fell on Wednesday while coffee rose as the softs complex struggled to find its footing in a volatile market environment. Renewed risk aversion flared as it was linked to rumours of a possible downgrade in France's credit rating whi
Published 11 Aug, 2011 12:00am
New York sugar jumps

New York sugar jumps

Sugar futures surged on Tuesday along with most of the complex in a modest rebound after the US downgrade. World stocks put the brakes on a 10-day rout as investors turned their attention to a US Federal Reserve meeting while gold clawed to fresh record h
Published 11 Aug, 2011 12:00am
US soyabeans extend losses

US soyabeans extend losses

CBOT soyabeans extended losses near the close of trading on Tuesday and corn gains were pared as the Dow dropped from the day's highs and crude oil fell, traders said. At 1:00 pm CDT (1800 GMT), CBOT November soy was down 10 cents per bushel at $13.02 and
Published 11 Aug, 2011 12:00am
Malaysian palm oil rebounds

Malaysian palm oil rebounds

Malaysian palm oil futures rebounded on Wednesday and snapped four straight sessions of losses as cautious investors said the market was oversold on growth and debt worries. Oil led a rebound among commodities as investors went bargain hunting for riskie
Published 11 Aug, 2011 12:00am
Tokyo rubber futures higher

Tokyo rubber futures higher

Tokyo rubber futures ended higher on Wednesday, tracking a recovery in share prices and oil, but traders said concern about the global economic outlook could still trim demand and prevent strong gains. The benchmark rubber contract on the Tokyo Commodity
Published 11 Aug, 2011 12:00am
Copper hits eight-month low

Copper hits eight-month low

Copper closed at its lowest in 8 months on Wednesday as investors sold risky assets amid speculation France's credit rating may be at risk and in response to growing concerns about the demand outlook for metals in a slowing economy. Sentiment turned negat
Published 11 Aug, 2011 12:00am
Shanghai copper up

Shanghai copper up

The most-active October copper contract on the Shanghai Futures Exchange rose 1.7 percent to 67,090 yuan per tonne by the midday close, after losing 2.5 percent in the last session.
Published 11 Aug, 2011 12:00am
US copper surges

US copper surges

Copper prices soared more than 2 percent in after-hours trading on Tuesday on short-covering which emerged after the Federal Reserve signalled it would employ policy measures to help the flagging US economy. Benchmark September copper on the COMEX exchang
Published 11 Aug, 2011 12:00am
New York cotton rebounds to end firmer

New York cotton rebounds to end firmer

Cotton futures settled higher Wednesday as the market rebounded from a 10-month low as investors tweaked their positions before release of a key crop report tomorrow, analysts said. The key December cotton contract on ICE Futures US added 2.00 cents to fi
Published 11 Aug, 2011 12:00am
Australian and New Zealand dollars hold hefty gains

Australian and New Zealand dollars hold hefty gains

The Australian and New Zealand dollars held on to their spectacular overnight gains on Wednesday, underpinned a pledge by US policy makers to keep rates low out to mid-2013 and surprisingly buoyant trade data from China. The Aussie consolidated at $1.0354
Published 11 Aug, 2011 12:00am
Sterling reverses fall versus euro

Sterling reverses fall versus euro

Sterling pulled back from a one-month low against the euro on Wednesday as euro debt problems and contagion risks dogged the single currency, but it lost ground against the dollar after the Bank of England cut its economic growth forecast. Speculation tha
Published 11 Aug, 2011 12:00am
Yuan at fresh record high

Yuan at fresh record high

The yuan ended at a record high against the dollar on Wednesday as the People's Bank of China boosted the mid-point to its biggest one-day percentage rise since mid-November due to a weak dollar index in the global market. Spot yuan ended at a record high
Published 11 Aug, 2011 12:00am
Asian currencies rebound

Asian currencies rebound

The South Korean won and the Malaysian ringgit rebounded on Wednesday after the Federal Reserve pledged to keep interest rates near zero until 2013, prompting investors to cautiously return to riskier assets after heavy selling in recent sessions.
Published 11 Aug, 2011 12:00am
Indian rupee flip-flops

Indian rupee flip-flops

The Indian rupee see-sawed on Wednesday tracking forward premiums that crashed in early trades as demand for spot dollars surged, but later recovered on likely intervention from the central bank, dealers said. The partially convertible rupee ended at 45.2
Published 11 Aug, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 74.74/74.75 (previous 74.73/74.75) Call Money Rates: 7.50-10.00 percent (previous 6.50-10.50 percent).
Published 11 Aug, 2011 12:00am
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