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Archive - 2011-08-12
Ontario sells C$750mn notes
Financial

Ontario sells C$750mn notes

NEW YORK : The Canadian province of Ontario on Friday sold C$750 million ($758 million) in a reopening of an existin
Published 12 Aug, 2011 05:12pm
Polish CPI close to 3.5pc
Top News

Polish CPI close to 3.5pc

WARSAW : Inflation in Poland will remain at around 4 percent year-on-year in coming months and ease to around 3.5 perc
Published 12 Aug, 2011 04:49pm
UK gas rises on energy rebound
Energy

UK gas rises on energy rebound

LONDON : UK curve gas contracts rose in Friday afternoon trading as positive US retail sales figures further buoyed
Published 12 Aug, 2011 04:41pm
Euro zone crisis reaches France
Europe

Euro zone crisis reaches France

PARIS : It was the week the euro zone debt crisis reached France, one of the twin pillars of the European currency along
Published 12 Aug, 2011 04:27pm
TSX pushes higher
Financial

TSX pushes higher

TORONTO: Toronto's main stock market index held on to moderate gains on Friday morning as declining gold-mining shares a
Published 12 Aug, 2011 03:38pm
Pir Pagaro opposes strike calls
Top News

Pir Pagaro opposes strike calls

KARACHI : PML(F) Chief Pir Pagaro has said that calling for strikes was not solution of the problems.
"Strikes h
Published 12 Aug, 2011 03:18pm
Short bets ban boots Europe
Top News

Short bets ban boots Europe

NEW YORK : European stock markets rallied on Friday as a ban on bearish bets in financial shares tempted investors back
Published 12 Aug, 2011 03:15pm
Stocks end flat; rupee weakens
Markets

Stocks end flat; rupee weakens

KARACHI : Stocks ended flat on Friday with early gains wiped out after Engro Corp reported lower-than-expected results f
Published 12 Aug, 2011 09:09am
Nordic stocks open down
Financial

Nordic stocks open down

STOCKHOLM : Stock markets across the Nordic region opened down Friday after largely positive trading a day earlier after
Published 12 Aug, 2011 08:05am
London stocks down at open
Financial

London stocks down at open

LONDON: British share prices opened lower on Friday in continued volatile trade amid concerns that the US and eurozone
Published 12 Aug, 2011 07:29am
Madrid stocks slip into red
Financial

Madrid stocks slip into red

MADRID: Spanish share prices slid into the red Friday, rapidly losing feeble gains made at the open, despite a ban on
Published 12 Aug, 2011 07:22am
Swiss stocks turn lower
Financial

Swiss stocks turn lower

ZURICH: Swiss stocks opened flat Friday but then turned lower as markets continued on edge and volatile on concerns ov
Published 12 Aug, 2011 07:14am
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 news a
Published 12 Aug, 2011 07:07am
1.27 crore goods traded across LoC
Top News

1.27 crore goods traded across LoC

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Published 12 Aug, 2011 06:56am
1.27 crore goods traded across LoC
Top News

1.27 crore goods traded across LoC

POONCH: The Cross-LoC businessmen today traded goods worth over Rs 1.27 crores through 17 trucks between Jammu and Kashm
Published 12 Aug, 2011 06:56am
Obama briefed by new Afghan team
Top News

Obama briefed by new Afghan team

WASHINGTON : U.S. President Barack Obama was briefed by the U.S. top military and civilian officials in Afghanistan
Published 12 Aug, 2011 06:03am
Taliban claim female suicide attack
Top News

Taliban claim female suicide attack

PESHAWAR: The Taliban on Friday claimed responsibility for a rare female suicide attack and another bombing against poli
Published 12 Aug, 2011 05:59am
Crude down in Asian trade
Energy

Crude down in Asian trade

SINGAPORE: Oil tumbled in Asian trade Friday due to a stronger dollar as global financial markets remained on edge on wo
Published 12 Aug, 2011 03:47am
South Korean shares up 0.9pc
Financial

South Korean shares up 0.9pc

SEOUL : South Korean shares rose 0.9 percent in morning trade on Friday after a Wall Street rally overnight. The market
Published 12 Aug, 2011 03:28am
Helping SMEs grow
BR Research

Helping SMEs grow

Last year, loans to the SME sector in China exceeded those to large enterprises, thanks to government efforts to encourage SME financing. Th
Published 12 Aug, 2011 12:00am
Falling yields in T-bills
BR Research

Falling yields in T-bills

The government must have taken a sigh of relief following a meteoric drop in the treasury yields in the last treasury auction held on Wednes
Published 12 Aug, 2011 12:00am
CID arrests notorious criminal

CID arrests notorious criminal

Counter Terrorism Unit (CTU) of Crime Investigation Department (CID) on Thursday claimed to have arrested a notorious criminal involved in several serious offences in the limits of SITE A police station.
Published 12 Aug, 2011 12:00am
Man dies as wall caves in

Man dies as wall caves in

A-40-year-old man was killed and his other colleague injured when a wall of a catering shop collapsed at North Nazimabad on Thursday. According to police, the wall of Anne catering shop fell on two workers namely Faqaruddin, 28 and Nawaz, 40 son of Saleem
Published 12 Aug, 2011 12:00am
Administrator imposes rain emergency in CDGK, Towns

Administrator imposes rain emergency in CDGK, Towns

In view of the persistent rains in the city, Administrator Karachi Fazlur Rehman has declared the state of emergency in city government and town administration. Leaves of the staff of the essential services departments have been cancelled and they have be
Published 12 Aug, 2011 12:00am
Emergency declared in Badin

Emergency declared in Badin

Emergency has been declared in Badin district following heavy rains in the area. The local met office has so far recorded 300mm of rainfall after which army and Rangers were called in to shift the stranded people to safer places. DCO Kazim Hussain Jatoi h
Published 12 Aug, 2011 12:00am
Petrol sales touch record high in July

Petrol sales touch record high in July

The motor spirit (petrol) sales in the country have touched record high of 250,000 tons in July, up by 33.7 percent as compared to the same month last year. "Where notorious circular debt has weighed heavily on the operating environment of oil marketing c
Published 12 Aug, 2011 12:00am
KCCI not in favour of increase in water tariff by 82 percent

KCCI not in favour of increase in water tariff by 82 percent

President, Karachi Chamber of Commerce and Industry (KCCI), Mohammad Saeed Shafiq has urged the Managing Director Karachi Water and Sewerage Board (KWSB) to uphold decision of increase in water tariff by 82 percent and sit down with KCCI along with the ma
Published 12 Aug, 2011 12:00am
Balochistan Assembly adopts two bills

Balochistan Assembly adopts two bills

The lawmakers in the session of Balochistan Assembly Thursday passed two bills on prisons and prisoners act respectively. The assembly sitting started with Member Panel of Chairmen, Mir Abdul Rehman Jamali in the chair. Balochistan Minister for Jails, Mal
Published 12 Aug, 2011 12:00am
Mango needs export infrastructure and new avenues

Mango needs export infrastructure and new avenues

Political and social unrest in the Middle East and drastic reduction in prices by India have sidelined Pakistan from the international mango pulp market. Value addition in the form of fruit pulp is still in its incubator stages in Pakistan and the concept
Published 12 Aug, 2011 12:00am
Forex reserves decline to $17.975 billion

Forex reserves decline to $17.975 billion

The country's foreign exchange reserves have dropped by $337 million to $17.975 billion in the week ending August 6, 2011 from $18.312 billion a week earlier. According to latest statistics reserves held by the State Bank of Pakistan (SBP) have posted a d
Published 12 Aug, 2011 12:00am
Doctors' protest against devolution: 200 surgeries deferred at JPMC

Doctors' protest against devolution: 200 surgeries deferred at JPMC

Doctors and other employees of the recently devolved Jinnah Postgraduate Medical Centre (JPMC) again made the patients to suffer, as 200 surgeries were deferred in the facility on Thursday due to the boycott of doctors and other staffs of operation theatr
Published 12 Aug, 2011 12:00am
Two killed in Hunza firing

Two killed in Hunza firing

At least two persons have been killed and several others injured in Hunza firing incident, private television channels reported on Thursday. Two persons were reportedly killed when police and an angry mob clashed during a cheque distribution ceremony for
Published 12 Aug, 2011 12:00am
Cop among four persons fall prey to targeted killings

Cop among four persons fall prey to targeted killings

At least four people including a cop were killed in ongoing spate of targeted killings at different parts of metropolis on Thursday. According to police, a cop and his friend were shot dead at Ahsanabad in the limits of Gulshan Maymar police station. They
Published 12 Aug, 2011 12:00am
Gold jumps to all-time high

Gold jumps to all-time high

Gold jumped by Rs 772 to touch all time high at Rs 49,542 per 10 grams in the local market Thursday, as its international price also soared to $1,785 an ounce, market sources said. According to Karachi Saraf Association, bullion's tola (11.664 grams) pric
Published 12 Aug, 2011 12:00am
MPs pay rich tribute to Quaid-e-Azam

MPs pay rich tribute to Quaid-e-Azam

Parliamentarians from both side of National Assembly on Thursday paid rich tribute to the founder of the nation Quaid-e-Azam Muhammad Ali Jinnah and vowed to work collectively to meet the challenges being faced by the Country. Today (Thursday), before sta
Published 12 Aug, 2011 12:00am
ANP stages walkout from National Assembly on third consecutive day

ANP stages walkout from National Assembly on third consecutive day

Awami National Party (ANP) staged walkout from National Assembly on the third consecutive day in protest against the government decision to abolish commissionerate system and restore local bodies system 2001 in Karachi and Hyderabad. Pakistan People's Par
Published 12 Aug, 2011 12:00am
Gilani for collective approach to overcome national challenges

Gilani for collective approach to overcome national challenges

Prime Minister Syed Yousuf Raza Gilani on Thursday urged the nation to ensure unity in their ranks and called for a collective approach to overcome the challenges being faced by the country. The Prime Minister was addressing a seminar 'Pakistan Meri Pehch
Published 12 Aug, 2011 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

Gold tumbled more than 3 percent on Thursday from a record hit overnight in Asian trading, as a rebound in US stocks, an increase in trading margins and technical signals spurred traders to take profits from the biggest rally since 2008. Prices slumped mo
Published 12 Aug, 2011 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

Copper ended up on Thursday for only the second time this month but posted its biggest daily gain in nearly nine months, as positive economic signals in the world's top-two consumers powered the rally.
Published 12 Aug, 2011 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

Chicago Board of Trade wheat futures closed higher Thursday following a rally in corn on USDA's August crop production report, traders said. A 3.86 percent rally in the Dow stock index was also cited. USDA said 2011 US wheat production would total 2.077 b
Published 12 Aug, 2011 12:00am
US MIDDAY: sugar and coffee up

US MIDDAY: sugar and coffee up

Sugar and coffee futures vaulted higher on Thursday on firmer US stocks but cocoa was mixed as the softs complex recovered after the US credit downgrade battering earlier in the week. The softs complex was in consolidation mode while waiting for fresh mac
Published 12 Aug, 2011 12:00am
Gold slides from record in Europe

Gold slides from record in Europe

Gold slid from record highs on Thursday as investors cashed in some of the previous session's near 3 percent gains after US stocks opened higher and following a move by CME Group to hike margins for trading COMEX gold futures. Worries over the European ba
Published 12 Aug, 2011 12:00am
US gold climbs

US gold climbs

Gold climbed to a third record in a row over $1,800 an ounce on Wednesday, extending its biggest rally since 2008 as a dive in French bank stocks sent new shudders through anxious financial markets. Rising more than 2.5 percent to take its four-day winnin
Published 12 Aug, 2011 12:00am
Gold eases in Asia

Gold eases in Asia

Gold eased on Thursday from record highs hit earlier in the session, after the CME Group raised margins on COMEX gold futures, while turmoil in the global financial markets and fears of slower growth will buoy sentiment. Spot gold hit an all-time high of
Published 12 Aug, 2011 12:00am
Liffe sugar rises

Liffe sugar rises

Sugar and coffee futures vaulted higher on Thursday while cocoa was mixed as the softs complex consolidated while waiting for fresh macro economic news to provide jittery investors direction on its next move. "The macro (atmosphere) is helping to push us
Published 12 Aug, 2011 12:00am
New York sugar and coffee mixed

New York sugar and coffee mixed

Sugar and coffee futures were mixed Wednesday while cocoa stumbled as the softs complex struggled to find its footing in a volatile environment. Renewed risk aversion flared as it was linked to rumours of a possible downgrade in France's credit rating whi
Published 12 Aug, 2011 12:00am
Malaysian palm oil extends gains

Malaysian palm oil extends gains

Malaysian palm oil futures extended gains for a second day on Thursday after food commodities rose and planters turned more bullish on the production outlook for the edible oil. An industry regulator said palm oil production growth may not be as high as a
Published 12 Aug, 2011 12:00am
Oil rises second day as US jobs, equities lift

Oil rises second day as US jobs, equities lift

Oil prices rose for a second straight day on Thursday, gaining as much as 3 percent as a strong US jobs report trumped early concerns about French banks and fears that Europe's debt crisis will spread. Oil gains tracked Wall Street, with the Dow Jones ind
Published 12 Aug, 2011 12:00am
Copper rises

Copper rises

Copper bounced back on Thursday as upbeat labour market data from the United States helped ease some fears about the economy, while an appreciation of China's currency also boosted the metal as it suggested the country was confident about growth prospects
Published 12 Aug, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active October copper contract on the Shanghai Futures Exchange fell 0.6 percent to close at 66,710 yuan per tonne, catching up with overnight London losses. LME three-month copper traded at a 758 yuan a tonne discount to the ShFE October copper
Published 12 Aug, 2011 12:00am
US copper drops

US copper drops

Copper fell on Wednesday, posting its lowest close in more than 8 months as equity markets slid and investors sold the industrial metal on growing concern about the demand outlook in a slowing economy. Some investors sold off copper holdings to raise mone
Published 12 Aug, 2011 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber future ended higher on Thursday as players took speculative buying positions after recent sharp falls, but gains were limited by falling oil prices and worries about the global economic outlook, dealers said. The benchmark rubber contract on
Published 12 Aug, 2011 12:00am
New York cotton ends lower after initial surge fades

New York cotton ends lower after initial surge fades

Cotton futures finished easier Thursday on late investor sales after an early flurry of short-covering faded while the trade digested the results of a key government crop report, analysts said. The key December cotton contract on ICE Futures US fell 1.28
Published 12 Aug, 2011 12:00am
Ton-up Cook punishes India

Ton-up Cook punishes India

Alastair Cook's 19th Test hundred propelled England into a first innings lead against India on the second day of the third Test at Edgbaston here on Wednesday. England were 319 for two - a lead of 95 runs - at tea. Left-handed opener Cook was 129 not out
Published 12 Aug, 2011 12:00am
Rs three million for winning U-16 soccer team announced

Rs three million for winning U-16 soccer team announced

Pakistan Football Federation (PFF) has announced cash award of rupees three million for Pakistan U-16 football team and officials for wining SAFF U-16 Soccer Championship. A spokesman of PFF said that announcement of cash award of rupees three million is
Published 12 Aug, 2011 12:00am
Indian hockey coach eyes comeback in China

Indian hockey coach eyes comeback in China

The inaugural Asian Champions Trophy in China next month will launch India's bid to qualify for the London Olympics, the team's new Australian coach said on Thursday. Michael Nobbs, who took charge of India in July for a five-year period, was confident th
Published 12 Aug, 2011 12:00am
Tiger stumbles after sizzling start at PGA

Tiger stumbles after sizzling start at PGA

Tiger Woods, in his first major event after a three-month layoff, stumbled back to level par after briefly grabbing a share of the early lead in Thursday's opening round of the PGA Championship. The 14-time major champion, who began on the back nine, bird
Published 12 Aug, 2011 12:00am
Tottenham match postponed over London violence

Tottenham match postponed over London violence

Tottenham's Premier League match against Everton has been postponed due to recent violence in London but remaining fixtures this weekend will go ahead as planned, it was confirmed on Thursday. The Premier League said in a statement all games except Totten
Published 12 Aug, 2011 12:00am
Fast man Johnson relishes slow conditions

Fast man Johnson relishes slow conditions

Australian fast bowler Mitchell Johnson said he relished the slow wicket on which he set up Australia's victory in the first one-day international against Sri Lanka. The left-arm paceman finished with a career-best 6-31 in his 100th one-dayer as Australia
Published 12 Aug, 2011 12:00am
Sultan Rana set to join Asian Cricket Council

Sultan Rana set to join Asian Cricket Council

Pakistan Cricket Board Director Cricket Operations (Domestic), Sultan Rana is all set to join Asian Cricket Council as Manager Events and Operations by quitting his job in PCB in September. Sultan Rana is expected to relinquish his charge in PCB by mid of
Published 12 Aug, 2011 12:00am
Nadal crashes out in Montreal

Nadal crashes out in Montreal

Rafael Nadal crashed out of the Montreal Masters in his opening match on Wednesday in a shock defeat at the hands of Croatia's Ivan Dodig. Nadal now has more work to do to regain the world number one ranking from Novak Djokovic, who shook off a slow start
Published 12 Aug, 2011 12:00am
Vinci topples top seed Wozniacki

Vinci topples top seed Wozniacki

Caroline Wozniacki's bid for a second-straight WTA Canada crown ended abruptly on Wednesday as the world number one was stunned in her opening match by unseeded Italian Roberta Vinci. Vinci defeated the top-seeded Dane 6-4, 7-5 to reach the third round. W
Published 12 Aug, 2011 12:00am
Spanish players threaten strike

Spanish players threaten strike

Football players from Spain's top two divisions, including millionaires like Cristiano Ronaldo and Lionel Messi, have decided to go on strike at the start of the season, the head of the Association of Spanish Footballers (AFE) announced Thursday.
Published 12 Aug, 2011 12:00am
Romania ban Mutu for life

Romania ban Mutu for life

Troubled striker Adrian Mutu has been expelled from the Romanian national team for life after spending a night drinking with a team-mate ahead of a friendly against San Marino, coach Victor Piturca said. West Bromwich defender Gabriel Tamas, who was with
Published 12 Aug, 2011 12:00am
Karzai will not seek third term

Karzai will not seek third term

President Hamid Karzai, who has led Afghanistan for nearly a decade, said Thursday he would not seek a third term in office at an election due to coincide with the end of Nato combat operations in 2014. Some political opponents had feared that Karzai, who
Published 12 Aug, 2011 12:00am
US judge gets 28 years in 'kids for cash' case

US judge gets 28 years in 'kids for cash' case

A long-time north-eastern Pennsylvania judge was ordered to spend nearly three decades in prison for his role in a massive juvenile justice bribery scandal that prompted the state's high court to toss thousands of convictions. Former Luzerne County Judge
Published 12 Aug, 2011 12:00am
Arabs to urge yes vote on Palestinian UN bid

Arabs to urge yes vote on Palestinian UN bid

A delegation of Arab foreign ministers will urge permanent members of the Security Council next week to vote for Palestinian UN membership, a top Palestinian official said Thursday. Negotiator Saeb Erakat told AFP the group would talk with representatives
Published 12 Aug, 2011 12:00am
Israel okays 1,600 settler homes for East Jerusalem

Israel okays 1,600 settler homes for East Jerusalem

Israel's interior minister has given final approval for a plan to build 1,600 settler homes in East Jerusalem, a project whose announcement last year during a visit by US Vice President Joe Biden caused a diplomatic rift with Washington. The official anno
Published 12 Aug, 2011 12:00am
White House rejects claim about bin Laden raid film

White House rejects claim about bin Laden raid film

Moviemakers producing a film about the US special forces raid that killed Osama bin Laden are getting help from the Pentagon, but the Obama administration dismissed concerns on Wednesday that classified information has been divulged. The film, focusing on
Published 12 Aug, 2011 12:00am
Political crisis looms large for Nepal

Political crisis looms large for Nepal

Nepal edged closer to political crisis Thursday with the prime minister confirming a threat to resign at the weekend ahead of a deadline to revive the country's stalled peace process. Premier Jhalanath Khanal had threatened to step down on August 13 barri
Published 12 Aug, 2011 12:00am
26 injured in China quake

26 injured in China quake

A 5.2-magnitude earthquake that struck China's far-western region of Xinjiang on Thursday injured at least 26 people, three of them critically, state media said. The quake occurred in an area near the ancient Silk Road city of Kashgar at a depth of nearly
Published 12 Aug, 2011 12:00am
City shares grief of 'hero' father who lost son in riots

City shares grief of 'hero' father who lost son in riots

A shocked community scarred by riots lined the streets here Thursday to support a father hailed as a hero for his dignified response to his son's death. Tariq Jahan's son, 21-year-old Haroon Jahan, was one of three men of Pakistani origin killed when the
Published 12 Aug, 2011 12:00am
BBC launches FM radio service in rebel Libyan cities

BBC launches FM radio service in rebel Libyan cities

The BBC World Service began broadcasting a new FM radio service in the Libyan rebel-held cities of Benghazi and Misrata on Thursday, the British broadcaster said. BBC Arabic already operates on Libyan television and on short- and medium-wave radio, "and w
Published 12 Aug, 2011 12:00am
Egypt starts process to end emergency rule

Egypt starts process to end emergency rule

Egypt has begun procedures to end the country's three-decade old state of emergency, the government said on Thursday, a key demand of the protesters who toppled President Hosni Mubarak in February. The ruling army council has promised to scrap the emergen
Published 12 Aug, 2011 12:00am
14 killed as Syrian army storms new towns

14 killed as Syrian army storms new towns

Syrian forces killed at least 14 people on Thursday, with the army storming two more towns in pursuit of anti-regime protesters, defying Western calls for an end to violence after a "chilling" UN Security Council briefing. The killings occurred soon after
Published 12 Aug, 2011 12:00am
Obama, Erdogan agree need for Syria 'transition'

Obama, Erdogan agree need for Syria 'transition'

US President Barack Obama and Turkish Prime Minister Recep Tayyip Erdogan agreed during a phone call Thursday on the need for a "transition to democracy" in Syria, the White House said. Obama's office said he and Erdogan had also agreed on the need for an
Published 12 Aug, 2011 12:00am
Western Libyan rebels strike north towards coast

Western Libyan rebels strike north towards coast

Rebel forces in western Libya pushed north on Thursday toward the town of Zawiyah, trying to get within striking distance of Muammar Qadhafi's capital Tripoli. Qadhafi is clinging to power despite a near five-month Nato air campaign, tightening economic s
Published 12 Aug, 2011 12:00am
UN cutting costs by the word

UN cutting costs by the word

Even words aren't cheap anymore. The United Nations, not normally known for terseness, is putting a word limit on the thousands of reports it produces each year to try to save money and diplomats' time. Lengthy documents are being scaled back "due to incr
Published 12 Aug, 2011 12:00am
US military loses contact with hypersonic aircraft

US military loses contact with hypersonic aircraft

US military scientists on Thursday launched a hypersonic aircraft but lost contact with the experimental plane in its second test flight, officials said. The unmanned Falcon Hypersonic Technology Vehicle (HTV-2), designed as a global bomber prototype capa
Published 12 Aug, 2011 12:00am
Gunman killed after Estonian ministry shooting

Gunman killed after Estonian ministry shooting

A man fired shots and set off a smoke bomb at the Defence Ministry in Estonia's capital Tallinn then was killed as police moved in, officials said on Thursday. The prosecutor's office said in a statement that a man with a gun broke into the Defence Minist
Published 12 Aug, 2011 12:00am
Australian and New Zealand dollars surge

Australian and New Zealand dollars surge

The Australian and New Zealand dollars rallied more than one percent against the US dollar on Thursday, helped by talk China may allow its currency to rise faster and a bounce in some Asian stocks. Markets, though, remained subject to extreme volatility o
Published 12 Aug, 2011 12:00am
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