BR100 Decreased By (-0.31%)
BR30 Decreased By (-0.1%)
KSE100 Decreased By (-0.25%)
KSE30 Decreased By (-0.36%)
AGHA 7.75 Increased By ▲ 0.06 (0.78%)
BECO 5.34 Increased By ▲ 0.03 (0.56%)
BML 60.63 Decreased By ▼ -0.60 (-0.98%)
BOP 36.05 Increased By ▲ 0.05 (0.14%)
CNERGY 11.50 Increased By ▲ 0.25 (2.22%)
CSIL 6.20 Increased By ▲ 0.03 (0.49%)
FCCL 57.40 Increased By ▲ 0.52 (0.91%)
FFL 16.52 Increased By ▲ 0.01 (0.06%)
FNEL 1.21 Increased By ▲ 0.01 (0.83%)
KEL 7.34 Decreased By ▼ -0.08 (-1.08%)
KOSM 6.09 Increased By ▲ 0.04 (0.66%)
LOTCHEM 27.13 Decreased By ▼ -0.07 (-0.26%)
MLCF 101.90 Decreased By ▼ -1.19 (-1.15%)
NBP 206.35 Decreased By ▼ -1.28 (-0.62%)
NCPL 63.90 Increased By ▲ 1.98 (3.2%)
NPL 73.23 Increased By ▲ 1.05 (1.45%)
OGDC 318.50 Increased By ▲ 0.01 (0%)
PACE 11.08 Increased By ▲ 0.02 (0.18%)
PAEL 44.00 Decreased By ▼ -0.38 (-0.86%)
PIBTL 16.83 Decreased By ▼ -0.07 (-0.41%)
PPL 222.20 Decreased By ▼ -0.28 (-0.13%)
PRL 63.88 Increased By ▲ 0.07 (0.11%)
PTC 73.01 Decreased By ▼ -0.15 (-0.21%)
SSGC 27.01 Decreased By ▼ -0.24 (-0.88%)
TBL 9.85 Decreased By ▼ -0.03 (-0.3%)
TELE 8.65 Decreased By ▼ -0.16 (-1.82%)
TPL 20.36 Increased By ▲ 0.02 (0.1%)
TPLP 15.00 Increased By ▲ 0.03 (0.2%)
TREET 24.18 Increased By ▲ 0.08 (0.33%)
TRG 63.10 Increased By ▲ 0.73 (1.17%)
Archive - 2011-08-14
Zimabwe beat Bangladesh
Cricket

Zimabwe beat Bangladesh

HARARE : Zimbabwe beat Bangladesh in their second one day international by seven wickets here on Sunday to take a 2-0 l
Published 14 Aug, 2011 02:49pm
Gilani meets lawyer delegation
Pakistan

Gilani meets lawyer delegation

MULTAN : Prime Minister Syed Yusuf Raza Gilani met with a seven-member delegation of lawyers and handed over them cheque
Published 14 Aug, 2011 01:05pm
Gulf markets open positive
Financial

Gulf markets open positive

DUBAI: Stock markets in the oil-rich Gulf region opened up on Sunday after a volatile week trailing the behaviour of g
Published 14 Aug, 2011 07:52am
18 killed on Independence Day: officials
Top News

18 killed on Independence Day: officials

QUETTA : Bomb, gun and rocket attacks killed 18 people in flashpoints bordering Afghanistan on Sunday as the country c
Published 14 Aug, 2011 07:20am
Bus plunge kills 15 pilgrims
Top News

Bus plunge kills 15 pilgrims

QUETTA : At least 15 people were killed and 20 more injured on Sunday when a passenger bus plunged into a deep ravine in
Published 14 Aug, 2011 07:18am
Zardari for multi-pronged strategy to tackle militancy

Zardari for multi-pronged strategy to tackle militancy

Senator John McCain, former presidential candidate and Republican senator from Arizona, called on President Asif Ali Zardari at Aiwan-e-Sadr on Saturday. He was accompanied by Cameron P Munter, US Ambassador in Islamabad, Christine Brose, Vance Serchuk an
Published 14 Aug, 2011 12:00am
Zardari for multi-pronged strategy to tackle militancy

Zardari for multi-pronged strategy to tackle militancy

Senator John McCain, former presidential candidate and Republican senator from Arizona, called on President Asif Ali Zardari at Aiwan-e-Sadr on Saturday. He was accompanied by Cameron P Munter, US Ambassador in Islamabad, Christine Brose, Vance Serchuk an
Published 14 Aug, 2011 12:00am
Gunmen kidnap American in Lahore

Gunmen kidnap American in Lahore

An American aid expert was kidnapped at gunpoint from his house in Lahore on Saturday after gunmen stormed through the back door and overpowered his guards, police said. The US embassy said the man, who police said was in his 60s, had been identified as W
Published 14 Aug, 2011 12:00am
Gunmen kidnap American in Lahore

Gunmen kidnap American in Lahore

An American aid expert was kidnapped at gunpoint from his house in Lahore on Saturday after gunmen stormed through the back door and overpowered his guards, police said. The US embassy said the man, who police said was in his 60s, had been identified as W
Published 14 Aug, 2011 12:00am
Sketchy IT return forms: filers must be served notices: USAID advisors

Sketchy IT return forms: filers must be served notices: USAID advisors

The Tax Administration Advisors of the United States Agency for International Development (USAID) have recommended to the Federal Board of Revenue (FBR) that the tax department must serve notices to the filers of incomplete income tax return form October
Published 14 Aug, 2011 12:00am
Sketchy IT return forms: filers must be served notices: USAID advisors

Sketchy IT return forms: filers must be served notices: USAID advisors

The Tax Administration Advisors of the United States Agency for International Development (USAID) have recommended to the Federal Board of Revenue (FBR) that the tax department must serve notices to the filers of incomplete income tax return form October
Published 14 Aug, 2011 12:00am
Sketchy IT return forms: filers must be served notices: USAID advisors

Sketchy IT return forms: filers must be served notices: USAID advisors

The Tax Administration Advisors of the United States Agency for International Development (USAID) have recommended to the Federal Board of Revenue (FBR) that the tax department must serve notices to the filers of incomplete income tax return form October
Published 14 Aug, 2011 12:00am
Nation celebrates 65th Independence Day today

Nation celebrates 65th Independence Day today

The nation will be celebrating its 65th Independence Day today with a resolve to make Pakistan a strong, prosperous and forward looking country in accordance with the vision of the Father-of-the-Nation. The main event of the day will be the flag-hoisting
Published 14 Aug, 2011 12:00am
Nation celebrates 65th Independence Day today

Nation celebrates 65th Independence Day today

The nation will be celebrating its 65th Independence Day today with a resolve to make Pakistan a strong, prosperous and forward looking country in accordance with the vision of the Father-of-the-Nation. The main event of the day will be the flag-hoisting
Published 14 Aug, 2011 12:00am
Seven convicted in GHQ attack

Seven convicted in GHQ attack

A Pakistani military court has found seven men guilty of attacking the army headquarters in 2009, sentencing a retired soldier to death and four men to life imprisonment, an official said Saturday. Pakistan's main Taliban faction claimed responsibility fo
Published 14 Aug, 2011 12:00am
Seven convicted in GHQ attack

Seven convicted in GHQ attack

A Pakistani military court has found seven men guilty of attacking the army headquarters in 2009, sentencing a retired soldier to death and four men to life imprisonment, an official said Saturday. Pakistan's main Taliban faction claimed responsibility fo
Published 14 Aug, 2011 12:00am
Huge gas reserves discovered in Sindh: Asim

Huge gas reserves discovered in Sindh: Asim

Huge reserves of over 100tcf of shale gas have been discovered in various parts of Sindh and the government has initially started work on these reserves in Hala, district Matiari. Federal Minister for Petroleum and Natural Resources Dr Asim Hussain talkin
Published 14 Aug, 2011 12:00am
Huge gas reserves discovered in Sindh: Asim

Huge gas reserves discovered in Sindh: Asim

Huge reserves of over 100tcf of shale gas have been discovered in various parts of Sindh and the government has initially started work on these reserves in Hala, district Matiari. Federal Minister for Petroleum and Natural Resources Dr Asim Hussain talkin
Published 14 Aug, 2011 12:00am
Huge gas reserves discovered in Sindh: Asim

Huge gas reserves discovered in Sindh: Asim

Huge reserves of over 100tcf of shale gas have been discovered in various parts of Sindh and the government has initially started work on these reserves in Hala, district Matiari. Federal Minister for Petroleum and Natural Resources Dr Asim Hussain talkin
Published 14 Aug, 2011 12:00am
APCNGA strongly opposes move: Ogra may again jack up gas prices

APCNGA strongly opposes move: Ogra may again jack up gas prices

The Oil and Gas Regulatory Authority (Ogra) is likely to further jack up gas prices by Rs 22.8 per British Thermal Unit (BTU) for all sectors, including compressed natural gas (CNG) sector. According to recent Orga notification, new CNG price in Potohar r
Published 14 Aug, 2011 12:00am
APCNGA strongly opposes move: Ogra may again jack up gas prices

APCNGA strongly opposes move: Ogra may again jack up gas prices

The Oil and Gas Regulatory Authority (Ogra) is likely to further jack up gas prices by Rs 22.8 per British Thermal Unit (BTU) for all sectors, including compressed natural gas (CNG) sector. According to recent Orga notification, new CNG price in Potohar r
Published 14 Aug, 2011 12:00am
APCNGA strongly opposes move: Ogra may again jack up gas prices

APCNGA strongly opposes move: Ogra may again jack up gas prices

The Oil and Gas Regulatory Authority (Ogra) is likely to further jack up gas prices by Rs 22.8 per British Thermal Unit (BTU) for all sectors, including compressed natural gas (CNG) sector. According to recent Orga notification, new CNG price in Potohar r
Published 14 Aug, 2011 12:00am
JCP recommends confirmation of seven Additional Judges

JCP recommends confirmation of seven Additional Judges

The Judicial Commission of Pakistan (JCP) in its meeting on Saturday recommended confirmation of services of 3 Additional Judges of Lahore High Court and 4 Judges of Peshawar High Court, and referred the matter to Parliamentary Committee for appointment o
Published 14 Aug, 2011 12:00am
Zafar Qureshi denied entry to FIA premises

Zafar Qureshi denied entry to FIA premises

Zafar Qureshi, Deputy Director, Federal Investigation Agency (FIA), having assumed charge of his office recently on August 11 on orders of the Supreme Court, was denied entry into FIA building on Saturday. Zafar reached the town to meet with the investiga
Published 14 Aug, 2011 12:00am
Zafar Qureshi denied entry to FIA premises

Zafar Qureshi denied entry to FIA premises

Zafar Qureshi, Deputy Director, Federal Investigation Agency (FIA), having assumed charge of his office recently on August 11 on orders of the Supreme Court, was denied entry into FIA building on Saturday. Zafar reached the town to meet with the investiga
Published 14 Aug, 2011 12:00am
15.8 percent rise in SPI since last year

15.8 percent rise in SPI since last year

The Sensitive Price Indicator (SPI) surged by 15.8 percent over the corresponding period of last year on the basis of increase in the prices of 17 essential commodities. The Federal Bureau of Statistics report released for the week ending on August 11, 20
Published 14 Aug, 2011 12:00am
15.8 percent rise in SPI since last year

15.8 percent rise in SPI since last year

The Sensitive Price Indicator (SPI) surged by 15.8 percent over the corresponding period of last year on the basis of increase in the prices of 17 essential commodities. The Federal Bureau of Statistics report released for the week ending on August 11, 20
Published 14 Aug, 2011 12:00am
15.8 percent rise in SPI since last year

15.8 percent rise in SPI since last year

The Sensitive Price Indicator (SPI) surged by 15.8 percent over the corresponding period of last year on the basis of increase in the prices of 17 essential commodities. The Federal Bureau of Statistics report released for the week ending on August 11, 20
Published 14 Aug, 2011 12:00am
'More dangerous' times ahead: World Bank chief

'More dangerous' times ahead: World Bank chief

World Bank chief Robert Zoellick on Saturday warned of a "new and more dangerous" time in the global economy, as Europe struggles to resolve its debt crisis. Zoellick said the eurozone's sovereign debt issues were more troubling than the "medium and long-
Published 14 Aug, 2011 12:00am
'More dangerous' times ahead: World Bank chief

'More dangerous' times ahead: World Bank chief

World Bank chief Robert Zoellick on Saturday warned of a "new and more dangerous" time in the global economy, as Europe struggles to resolve its debt crisis. Zoellick said the eurozone's sovereign debt issues were more troubling than the "medium and long-
Published 14 Aug, 2011 12:00am
''More dangerous'' times ahead: World Bank chief

''More dangerous'' times ahead: World Bank chief

World Bank chief Robert Zoellick on Saturday warned of a "new and more dangerous" time in the global economy, as Europe struggles to resolve its debt crisis. Zoellick said the eurozone''s sovereign debt issues were more troubling than the "medium and long
Published 14 Aug, 2011 12:00am
US apologises for diplomat's comment

US apologises for diplomat's comment

The United States has apologised for controversial remarks made by a US diplomat who spoke of "dark and dirty" Indians, calling the comments "inappropriate". US Vice-Consular Maureen Chao told Indian students on Friday that her "skin became dirty and dark
Published 14 Aug, 2011 12:00am
US apologises for diplomat's comment

US apologises for diplomat's comment

The United States has apologised for controversial remarks made by a US diplomat who spoke of "dark and dirty" Indians, calling the comments "inappropriate". US Vice-Consular Maureen Chao told Indian students on Friday that her "skin became dirty and dark
Published 14 Aug, 2011 12:00am
Government to set up three social security hospitals

Government to set up three social security hospitals

Punjab Labour Minister, Haji Ehsaan-ud-Din Qureshi has said that government will set up new social security hospitals in Sheikhupura, Rahim Yar Khan, and Jhang to provide state of the art health care facilities to labourers. While talking to workers' dele
Published 14 Aug, 2011 12:00am
Khyber Pakhtunkhwa to establish its own oil and gas Company: Hoti

Khyber Pakhtunkhwa to establish its own oil and gas Company: Hoti

Chief Minister of Khyber-Pakhtukhwa, Ameer Haider Khan Hoti, said that for the development of the oil and gas resources and getting of maximum benefits an Oil and Gas Company at the level of the provincial government is being established. Addressing a pub
Published 14 Aug, 2011 12:00am
HEC, Microsoft launches NSSA Portal

HEC, Microsoft launches NSSA Portal

Higher Education Commission (HEC) in collaboration with the Microsoft Pakistan has launched National Student Software Accessibility (NSSA) Portal to provide genuine software availability to the higher education sector. The service will streamline software
Published 14 Aug, 2011 12:00am
200 more taxpayers get registered at SRB

200 more taxpayers get registered at SRB

More 200 companies and individuals related to various services have been enrolled at Sindh Revenue Board (SRB) while 15th August is last date of enrolment, official sources told Business Recorder on Saturday. With addition of these 200 taxpayers no
Published 14 Aug, 2011 12:00am
Shahbaz says getting threat from PPP leadership

Shahbaz says getting threat from PPP leadership

Punjab Chief Minister Shahbaz on Saturday alleged that he was getting threats from President Asif Ali Zardari. Shahbaz said he would expose "the corruption perpetrated" by President Zardari even if he had to sacrifice his life in the process.
Published 14 Aug, 2011 12:00am
Criminal Law: SCBAP-PBC workshop slams government measures

Criminal Law: SCBAP-PBC workshop slams government measures

Speakers on Saturday expressing great concern over the recent spate of violence in the country criticised some government measures in connection with Criminal Law. However, recent reforms in the FCR and other regulations applicable to Fata were appreciate
Published 14 Aug, 2011 12:00am
Gusty winds coupled with rain hit city

Gusty winds coupled with rain hit city

Gusty winds coupled with rain hit the city's many parts on Saturday night leaving the power supply suspended but reduced the temperature level, while met office warned the current monsoon spell would continue for another 2-3 days in the country.
Published 14 Aug, 2011 12:00am
Nisar threatens to quit PAC top slot

Nisar threatens to quit PAC top slot

Leader of opposition in the National Assembly and Chairman Public Accounts Committee (PAC) Chaudhry Nisar Ali Khan on Saturday warned to quit as chief of the parliamentary body on public accounts, if the government failed to implement the previous directi
Published 14 Aug, 2011 12:00am
PAC recovers Rs 165 billion embezzled funds: Sardar Ayaz Sadiq

PAC recovers Rs 165 billion embezzled funds: Sardar Ayaz Sadiq

National Assembly's Public Accounts Committee for Railways on Saturday expressed deep concern over 'unjustified expenditure of Rs 18.954million on the construction of an underpass in Sangla hill by the Railways top slot. The Committee was informed that fo
Published 14 Aug, 2011 12:00am
Chief minister Punjab greets nation on Independence Day

Chief minister Punjab greets nation on Independence Day

Punjab Chief Minister, Muhammad Shahbaz Sharif while congratulating the nation on the occasion of Independence Day has said that the historic day of August 14 reminds us those unforgettable sacrifices which our forefathers had rendered for achieving an in
Published 14 Aug, 2011 12:00am
Partial strike on call of nationalist parties

Partial strike on call of nationalist parties

Many parts of the city on Saturday remained tense as partial strike was observed on the call of nationalist parties against the restoration of Sindh Local Government Ordinance 2001 that left seven persons dead, several wounded and a half dozen vehicles to
Published 14 Aug, 2011 12:00am
Reforming FCR, PPO in FATA: Babar terms it great achievement of PPP

Reforming FCR, PPO in FATA: Babar terms it great achievement of PPP

Minister for Information and Broadcasting Dr Firdous Ashiq Awan has said by extending the Political Parties Order 2002 to tribal areas and reforming Frontier Crime Regulations (FCR) the government has fulfilled the long-standing demand of the people of th
Published 14 Aug, 2011 12:00am
Pak-India parliamentarians' talks on August 18

Pak-India parliamentarians' talks on August 18

Pakistan and Indian politicians will meet during Parliamentarians' dialogue in New Delhi on August 18. A multi-party parliamentary delegation from Pakistan is set to leave for India on August 17 to participate in the second round of the Indo-Pak Parliamen
Published 14 Aug, 2011 12:00am
Abduction of US citizen: US coordinating with Pakistani officials

Abduction of US citizen: US coordinating with Pakistani officials

The State Department is co-ordinating with Pakistani officials on an investigation of the Saturday abduction of a US citizen in Lahore, and said it was providing consular support to the man's family. Police said the American aid expert was kidnapped at gu
Published 14 Aug, 2011 12:00am
Mixed trend in kitchen items prices

Mixed trend in kitchen items prices

Prices of the essential kitchen items showed mixed trend during the current week as compared to last week, according to a survey carried out by Business Recorder on Saturday. In the twin cities of Islamabad/Rawalpindi, traders said that prices of e
Published 14 Aug, 2011 12:00am
Police arrest 51 alleged criminals, 32 beggars

Police arrest 51 alleged criminals, 32 beggars

Capital Police held 51 persons including 32 beggars in its crackdown against beggars and criminals, besides busting three gangs of dacoits and gamblers during the drive and recovered six pistols, one car, cash and drugs. Thieves struck thrice in the Feder
Published 14 Aug, 2011 12:00am
Gallantry awards for Pakistan's Army officers announced

Gallantry awards for Pakistan's Army officers announced

President of Pakistan has granted military awards to the officers and men of Pakistan Army on the Independence Day. Those officers and men who have been conferred with Sitara-i-Basalat, include: Captain Muhammad Jehanzeb Khan (Shaheed), Punjab Regiment, C
Published 14 Aug, 2011 12:00am
MQM team meets Pir Pagara

MQM team meets Pir Pagara

The MQM members said that they did not want division of Sindh, while Pir Pagara said that he watches interest and there is a little difference between vested interest and the common interest. The MQM delegation includes Babar Ghori, Adil Sadique, Raza Har
Published 14 Aug, 2011 12:00am
Bill on historical mosques moved in Assembly

Bill on historical mosques moved in Assembly

A bill on historical mosques and shrines cess fund was tabled in Provincial Assembly on Saturday. Speaker Muhammad Aslam Bhootani presided over the assembly sitting. Minister Habibur-Rehman Muhammad Hasni on behalf of Minister for Religious and Minority A
Published 14 Aug, 2011 12:00am
Pakistanis felicitated on eve of Independence Day

Pakistanis felicitated on eve of Independence Day

In occupied Kashmir, the APHC Chairman, Mirwaiz Umar Farooq, veteran Kashmiri Hurriyet leader, Syed Ali Geelani and other liberation leaders, Muhammad Yasin Malik and Shabbir Ahmed Shah have felicitated the people and the government of Pakistan on the eve
Published 14 Aug, 2011 12:00am
Nawaz opens photo exhibition

Nawaz opens photo exhibition

Information, Culture and Youth Affairs department Punjab in collaboration with Lahore Photo Journalist Association organised a photo exhibition titled "Photo Festival" on the eve of Independence Day here at Jillani Park (Race Course Park) on Saturday.
Published 14 Aug, 2011 12:00am
Director Alliance Francaise visits PU

Director Alliance Francaise visits PU

The newly-appointed Director of the Alliance Francaise Lahore, Dominique Scorby visited the Punjab University's Department of French and met the faculty members and students.
Published 14 Aug, 2011 12:00am
Chief minister Sindh declares Badin calamity-hit area

Chief minister Sindh declares Badin calamity-hit area

Sindh Chief Minister, Syed Qaim Ali Shah has declared Badin District as calamity-hit area and said remission of water charges Dhal, Abyana would be given to the affected farmers of the district. He also announced for providing compensation for the damages
Published 14 Aug, 2011 12:00am
Protestors demand early recovery of abducted journalist

Protestors demand early recovery of abducted journalist

Tribal and local journalists on Saturday held a protest demonstration against the abduction of a senior journalist Rahmatullah Tarapakhel in North Waziristan. They demanded of the government to take prompt steps for his early safe recovery.
Published 14 Aug, 2011 12:00am
Altaf felicitates Pakistanis on Independence Day

Altaf felicitates Pakistanis on Independence Day

Chief Muttahida Quami Movement (MQM), Altaf Hussain has felicitated Pakistanis throughout the world on the 64th Foundation Day of the country. In his message on Saturday, Altaf said that freedom is a great gift and living nations must value their freedom.
Published 14 Aug, 2011 12:00am
Ibad, Qaim to hoist National flag at Quaid's mausoleum

Ibad, Qaim to hoist National flag at Quaid's mausoleum

Sindh Governor, Dr Ishrat-ul-Ebad Khan and Sindh Chief Minister, Syed Qaim Ali Shah will hoist the national flag at the mausoleum of founder of Pakistan, Quaid-e-Azam Mohammad Ali Jinnah at 0900 hours on August 14 to pay homage to the great leader on 64th
Published 14 Aug, 2011 12:00am
Saarc convention: Diploma Engineers Federation team returns

Saarc convention: Diploma Engineers Federation team returns

A 10-member delegation of Pakistan Diploma Engineers Federation under the chairmanship of Syed Mansoor Hussain arrived here after attending the fifth convention of Saarc Diploma Engineers Forum in Colombo, Sri Lanka. Mansoor Hussain read the 'speech of th
Published 14 Aug, 2011 12:00am
SRB communicates issues to be discussed with FBR

SRB communicates issues to be discussed with FBR

The Sindh Revenue Board (SRB) has already given its inputs to Federal Board of Revenue (FBR) in writing regarding the issues which would be discussed in a meeting, scheduled to be held on 16th August 2011 at FBR House Islamabad.
Published 14 Aug, 2011 12:00am
'Government striving to overcome unscheduled loadshedding'

'Government striving to overcome unscheduled loadshedding'

Prime Minister, Syed Yusuf Raza Gilani on Saturday said that the government is working on war footing to overcome unscheduled electricity load-shedding in the country. He said that all relevant ministries have been directed to resolve the issue of circula
Published 14 Aug, 2011 12:00am
Shutter down against restoration of LG system

Shutter down against restoration of LG system

A 'shutter down' was observed in Sukkur, Khairpur, Shikarpur, Jaccababd, Kashmore, Ghotki, Nushehroferoze on Saturday against restoration of the local government system in the province. The business activities remained suspended and there was thin traffic
Published 14 Aug, 2011 12:00am
PPP, ANP welcome Fata Political Parties Act

PPP, ANP welcome Fata Political Parties Act

Senator Afrasiyab Khan Khattak from Awami National Party (ANP) welcomed the presidential order and said that extension of Political Parties Act 2002 will provide an opportunity to the people of Fata to join mainstream and make progress. Talking to PTV on
Published 14 Aug, 2011 12:00am
Tourism festival from September 10

Tourism festival from September 10

Tourism festival was expected to start from September 10 at Rama Lake, said Assistant Director Tourism Kashif Baig while talking to newsmen on Saturday.
Published 14 Aug, 2011 12:00am
Rakhi festival celebrated across country

Rakhi festival celebrated across country

The 3-day final celebrations of the Hindu festival of Rakhi were held at various temples and Gurdawaras across the country on Saturday. The festival of Rakhi, Thread of Love, was celebrated across the world by Hindu and Sikh communities while around 4,000
Published 14 Aug, 2011 12:00am
Levy of 16 percent GST: kiln owners to continue strike

Levy of 16 percent GST: kiln owners to continue strike

The strike of kiln owners in South Punjab entered the 13th day against the levy of 16 percent General Sales Tax (GST). "We will not pay 16 percent General Sales Tax on the sale of bricks," said Malik Rab nawaz President of Kiln owners Association Multan w
Published 14 Aug, 2011 12:00am
Scattered rain, thundershowers forecast across country

Scattered rain, thundershowers forecast across country

Pakistan Meteorological Department (PMD) on Saturday forecast scattered rain/thundershower across the country with isolated heavy falls in Sindh and upper Punjab on August 14 (Sunday). According to the met analysis, seasonal low lies over north-west Baloc
Published 14 Aug, 2011 12:00am
Culture department to produce dramas, documentary on sufi poets

Culture department to produce dramas, documentary on sufi poets

Khyber Pakhtunkhwa, Minister for Information, Mian Iftikhar Hussein has said Sufi poets like Rehman Baba always gave the message of peace and love through their mystical poetry. Talking to a three-member delegation of Rahman Adbi Jirga (RAJ) Peshawar led
Published 14 Aug, 2011 12:00am
Djuice launches youth anthem 'Kya Darta Hai'

Djuice launches youth anthem 'Kya Darta Hai'

With the aim to encourage youth to speak out against issues that are preventing them from having a better future, djuice has launched a youth anthem 'Kya Darta Hai', a song sung by Shehzad Roy. The song has been written by Shehzad Roy and Nazir Akbar Abad
Published 14 Aug, 2011 12:00am
The major challenge

The major challenge

As the country's political leadership 'entertains' the nation with novel interpretations of the Constitution on the question of 'more provinces', the terrorists are no less enthusiastic in carrying forward their own murderous designs.
Published 14 Aug, 2011 12:00am
Sale of counterfeit and smuggled cigarettes

Sale of counterfeit and smuggled cigarettes

According to a Recorder report, the cigarette industry is distressed over the unchecked availability of counterfeit and smuggled cigarettes in the market. The illegal activity is causing harm not only to local manufacturers, but also to smokers and the Fe
Published 14 Aug, 2011 12:00am
Justice, finally

Justice, finally

In a remarkably swift judgement, an anti-terrorism court (ATC) in Karachi has handed down capital punishment to Rangers constable Shahid Zafar, the man guilty of pulling the trigger on Sarfaraz Shah in broad daylight in Karachi two months ago. The court a
Published 14 Aug, 2011 12:00am
Food inflation - a time bomb set to explode

Food inflation - a time bomb set to explode

Norman Borlaug, an American agronomist, generally acknowledged as the father of Green Revolution once said, "You can't build a peaceful world on empty stomachs and human misery." Although the food price hike is a global phenomenon, the way it has affected
Published 14 Aug, 2011 12:00am
Civilian regimes and growth trade-off

Civilian regimes and growth trade-off

Pakistan's economic spectrum is a blend of characteristically different eras more popularly known as the early years (1947-58), the first military regime (1958-69), the ZAB period (1971-77), the second military regime (1977-88), structural adjustment era
Published 14 Aug, 2011 12:00am
Politics reshapes charity meals in post-Mubarak Egypt

Politics reshapes charity meals in post-Mubarak Egypt

Street charity banquets, a time-honoured feature of the Muslim holy month of Ramazan, are evolving into a kind of political tug-of-war this year. Until last year, senior politicians and businessmen from deposed leader Hosny Mubarak's National Democratic P
Published 14 Aug, 2011 12:00am
Independence Day

Independence Day

Should we celebrate 14th August as our Independence Day or the Birthday of Pakistan? Pakistan did not exist before August 14, 1947. As such it was never a country ruled by the British and consequently liberated or granted independence. It was born a free
Published 14 Aug, 2011 12:00am
Euro and dollar could rally further

Euro and dollar could rally further

The euro and dollar looked to extend gains against the Swiss franc in the upcoming week as investors remained cautious about potential Swiss National Bank action to slow the pace of the franc's rise. Both the euro and dollar have racked up gains of roughl
Published 14 Aug, 2011 12:00am
Speculators cut dollar shorts by more than half

Speculators cut dollar shorts by more than half

Currency speculators slashed their bets against the US dollar by more than half to the lowest since January, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position dropped to $11.61
Published 14 Aug, 2011 12:00am
Canadian dollar ends slightly weaker

Canadian dollar ends slightly weaker

Canada's dollar eased slightly on Friday as unexpectedly weak US consumer sentiment data kept investors nervous, capping a volatile week that saw the Canadian currency drop to below parity with the US dollar. "If your largest trading partner is suffering,
Published 14 Aug, 2011 12:00am
African currencies outlook

African currencies outlook

Kenya's shilling is expected to firm against the dollar next week after recovering from an all-time low, bucking a trend in African currencies which are under additional pressure because of the global flight from riskier assets.
Published 14 Aug, 2011 12:00am
Eurozone banks close to asking ECB for dollars

Eurozone banks close to asking ECB for dollars

Dollar funding costs for eurozone banks have trebled in three weeks and are expected to rise further, possibly forcing lenders to ask for greenbacks from the European Central Bank for the first time in a year. A massive sell-off in stocks, led by banks, h
Published 14 Aug, 2011 12:00am
Wild week on Wall Street ends with subdued gains

Wild week on Wall Street ends with subdued gains

After one of the most volatile weeks in memory, US stocks ended higher on Friday in a tentative sign that the worst of the selling may be over. Volume was much lighter than on any other day of the week and intraday swings were far less violent than in pre
Published 14 Aug, 2011 12:00am
For US brokers, low rates overshadow trading binge

For US brokers, low rates overshadow trading binge

A "new normal" of near-zero US interest rates will limit the earnings potential of US discount brokers this quarter and offset a boost in fee income as investors step up trading to keep up with wild market swings. The surge in stock market activity in the
Published 14 Aug, 2011 12:00am
US Treasury outlook: Economic data could regain spotlight

US Treasury outlook: Economic data could regain spotlight

With the debt ceiling debate and the S&P ratings downgrade in the rear view mirror, economic data will be in the spotlight in the coming week as bond investors try to figure out the likely US economic outlook. Data revealing a stronger economic pulse than
Published 14 Aug, 2011 12:00am
US Treasury outlook: Economic data could regain spotlight

US Treasury outlook: Economic data could regain spotlight

With the debt ceiling debate and the S&P ratings downgrade in the rear view mirror, economic data will be in the spotlight in the coming week as bond investors try to figure out the likely US economic outlook. Data revealing a stronger economic pulse than
Published 14 Aug, 2011 12:00am
Indian bond yields up

Indian bond yields up

Indian federal bond yields ended higher on Friday as industrial output data topped forecasts and strengthened the case for further policy tightening with traders awaiting Tuesday's inflation data for more cues. India's financial markets will remain shut o
Published 14 Aug, 2011 12:00am
Indian bond yields up

Indian bond yields up

Indian federal bond yields ended higher on Friday as industrial output data topped forecasts and strengthened the case for further policy tightening with traders awaiting Tuesday's inflation data for more cues. India's financial markets will remain shut o
Published 14 Aug, 2011 12:00am
Sri Lankan bourse up one percent

Sri Lankan bourse up one percent

Sri Lanka's bourse rose 1 percent on Friday on retail buying and two large block trades but foreign investors sold out in the largest volume in three months, amid global economic uncertainty, traders said. Sri Lanka's main share index rose 1.24 percent in
Published 14 Aug, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasury debt prices rose on Friday as more cash flowed into safe-haven government bonds, driven in part by a dismal US consumer sentiment reading for August. Treasuries were on track to finish their first AA-plus rated week with the largest one-week p
Published 14 Aug, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasury debt prices rose on Friday as more cash flowed into safe-haven government bonds, driven in part by a dismal US consumer sentiment reading for August. Treasuries were on track to finish their first AA-plus rated week with the largest one-week p
Published 14 Aug, 2011 12:00am
Turkish shares recover

Turkish shares recover

Turkey's lira firmed on Friday after its central bank governor said the volume of foreign currency sales at auction could be increased further if needed, while bond yields edged up and shares rebounded in line with European markets. After Governor Erdem B
Published 14 Aug, 2011 12:00am
Toronto's main stock index edges higher

Toronto's main stock index edges higher

Toronto's main stock market index closed slightly higher on Friday, extending its rally to four straight days, as stronger energy shares offset lagging gold-miners. Canadian equities lagged gains by US stocks. But after sliding on Monday to their lowest l
Published 14 Aug, 2011 12:00am
Latam stock rebound fizzles

Latam stock rebound fizzles

A week that started with a bang, knocking Latin American stocks to a one-year low, ended with a whimper as a rebound lost steam due to persistent fears of a US recession and a deepening EU debt crisis. The MSCI Latin America stock index closed up 0.69 per
Published 14 Aug, 2011 12:00am
No plan to expand short-selling ban: ESMA

No plan to expand short-selling ban: ESMA

The chairman of the European Securities and Markets Authority said while there was no plan to extend a ban on short-selling financial stocks to other countries, such a move could not be ruled out. ESMA Chairman Steven Maijoor told Reuters TV the curbs, br
Published 14 Aug, 2011 12:00am
Long-dated JGBs underperform

Long-dated JGBs underperform

Japanese government bonds were lower on Friday, with superlongs underperforming the market on expectations that increased debt sales to finance post-quake rebuilding will push up JGB yields. The US credit downgrade has also raised fears that countries inc
Published 14 Aug, 2011 12:00am
Long-dated JGBs underperform

Long-dated JGBs underperform

Japanese government bonds were lower on Friday, with superlongs underperforming the market on expectations that increased debt sales to finance post-quake rebuilding will push up JGB yields. The US credit downgrade has also raised fears that countries inc
Published 14 Aug, 2011 12:00am
Argentine wheat thriving on moist soils: government

Argentine wheat thriving on moist soils: government

Argentine 2011/12 wheat is flourishing thanks to good soil moisture and favourable weather in many growing regions, the Agriculture Ministry said on Friday in its weekly report. Argentina is a top global wheat exporter and Brazil is its biggest market.
Published 14 Aug, 2011 12:00am
Brazil's sugarcane industry cuts crop estimate

Brazil's sugarcane industry cuts crop estimate

Brazil's sugarcane industry will revise its current center-south crop estimate on Thursday, which should fall in line with independent analysts that have lowered expectations for the world's leading sugar supplier recently. Today's revision is unusual for
Published 14 Aug, 2011 12:00am
US soyabeans rise second day on production jitters

US soyabeans rise second day on production jitters

US soyabeans rose for the second straight session on Friday, and were poised for the largest two-day rally since May, due to worries over the size of the crop, a day after the government made a surprisingly large cut in its production forecast. Wheat futu
Published 14 Aug, 2011 12:00am
Corn export premiums flat at US Gulf Coast

Corn export premiums flat at US Gulf Coast

Export premiums for corn were flat at the US Gulf Coast on Friday as demand remained lackluster while some early harvested supplies entered the pipeline, traders said. Soyabean and wheat premiums also steady, underpinned by tight supplies and with buyers
Published 14 Aug, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 65,855 tonnes of cargo including 29,143 tonnes of import cargo, 36,712 tonnes of export cargo and 2,896 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 29,143 tonnes compri
Published 14 Aug, 2011 12:00am
China July cotton imports up

China July cotton imports up

China imported 157,100 tonnes of cotton in July, up 30.89 percent from the previous month, the China Cotton Association said on Thursday, citing customs data. The figure was 7 percent lower than the same period of 2010, the association said. Imports for t
Published 14 Aug, 2011 12:00am
US wheat up fourth day on planting concerns

US wheat up fourth day on planting concerns

US wheat climbed on Friday, posting its first four-day winning streak since January, amid concerns that farmers may not be able to plant next month due to historic drought in the southern US Plains. But wheat pared its gains late while corn futures edged
Published 14 Aug, 2011 12:00am
Indonesian robusta prices shoot up in Europe's cash coffee market

Indonesian robusta prices shoot up in Europe's cash coffee market

Indonesian robusta price differentials shot up in Europe's cash coffee market this week as the country's export supplies dried up, dealers said on Friday. "Indonesian trade became incredibly difficult this week with hardly any supplies being offered on th
Published 14 Aug, 2011 12:00am
Recent rains may hurt both quantity, quality of cotton

Recent rains may hurt both quantity, quality of cotton

Modest trading was witnessed on the cotton market on Saturday amid slow arrival of phutti in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,400, they said. In the ready business, approximate
Published 14 Aug, 2011 12:00am
US and European corn, wheat futures ease

US and European corn, wheat futures ease

US and European corn and wheat futures eased on Friday after strong gains in the previous session fuelled by a bigger-than-expected cut in the US government outlook for corn and soybean output this year. Chicago wheat ticked lower, after rising nearly 7 p
Published 14 Aug, 2011 12:00am
In Short: India's rubber imports jump

In Short: India's rubber imports jump

Imports of rubber in India, the world's second-biggest consumer, provisionally rose 11.97 percent on year to 20,127 tonnes in July as tyre makers cashed in on lower customs duties, the state-run Rubber Board said in a statement. Rubber imports rose 10.4 p
Published 14 Aug, 2011 12:00am
In Short: India allows sugar exports

In Short: India allows sugar exports

India has decided to allow another 500,000 tonnes of unrestricted sugar exports, Science and Technology Minister Vilasrao Deshmukh told reporters after a ministerial meeting on Friday. "500,000 tonnes," Deshmukh said when asked about the exports from the
Published 14 Aug, 2011 12:00am
Asia cocoa lower

Asia cocoa lower

Cocoa butter ratios fell to their lowest since 2002 in Asia as grinders struggled to sell excess stocks, but demand for powder helped lift prices to their highest in 11 years above $5,000 a tonne, dealers said on Friday. Grinders in Malaysia, Indonesia an
Published 14 Aug, 2011 12:00am
Asia coffee premiums at all-time highs

Asia coffee premiums at all-time highs

Premiums for robusta coffee stayed at record highs in Asia on lingering supply concerns, but demand was scarce and more exporters are likely to delay shipments from Vietnam because of a shortage of beans, dealers said on Thursday. Grade 2, 5 percent black
Published 14 Aug, 2011 12:00am
Philippines sells raw sugar

Philippines sells raw sugar

South Korea has bought 6,000 tonnes raw sugar from the Philippines, the latest export deal of the Southeast Asian country as it struggles to find buyers for its excess supply of the sweetener, officials said on Tuesday. Only three buyers have so far emerg
Published 14 Aug, 2011 12:00am
Thai sugar

Thai sugar

Thailand, the world's second-biggest sugar exporter, is expected to produce at least 9.2 million tonnes of the sweetener in the current 2011/12 crop, a senior official at the Office of Cane and Sugar Board (OCSB) said on Tuesday. Some traders have said ou
Published 14 Aug, 2011 12:00am
Gold hits new record above $1,800 amid eurozone debt storm

Gold hits new record above $1,800 amid eurozone debt storm

Gold hit a record peak this week as investors sought shelter from slumping equities amid unfounded rumours of a France credit rating downgrade and worries over Societe Generale's Greek debt exposure. However, the French government categorically denied tha
Published 14 Aug, 2011 12:00am
Southeast Asian palm oil output likely to stay lower

Southeast Asian palm oil output likely to stay lower

Southeast Asian palm oil output will not be as high as expected this year as the effects of the El Nino weather condition in 2010 may weaken yields, a top official from Malaysia's IJM Plantations said on Wednesday. Chief Executive Joseph Tek said the impa
Published 14 Aug, 2011 12:00am
Cotton trade disputes USDA production report

Cotton trade disputes USDA production report

The US cotton market had a tepid reaction to a key government crop report on Thursday as some traders said the estimate for US 2011/12 cotton production was too high. USDA forecast US 2011/12 cotton production at 16.55 million (480-lb) bales, up from 16 m
Published 14 Aug, 2011 12:00am
Cotton crop focus on demand before USDA data

Cotton crop focus on demand before USDA data

The US Agriculture Department's monthly supply report should show another cut for the drought-stricken US cotton crop, but traders said Wednesday the focus would be fixed firmly on demand in the 2011/12 season. In a poll by Thomson Reuters, market partici
Published 14 Aug, 2011 12:00am
India's cotton output seen up 9.8 percent

India's cotton output seen up 9.8 percent

According to a report, India's cotton output is set for a second successive record harvest in 2011/12, up about 10 percent over last year's 32.5 million bales, a Reuters poll showed, signalling higher supplies from the world's number two producer amid sli
Published 14 Aug, 2011 12:00am
Vietnamese rice prices near three-year high

Vietnamese rice prices near three-year high

Vietnamese rice prices hit a three-year high on Wednesday because of demand for loading, while a combination of a stronger Thai baht and speculation about intervention by the new government kept Thai prices firm despite thin demand. Traders said offers fo
Published 14 Aug, 2011 12:00am
Asia sugar surplus strains prices, eyes on China demand

Asia sugar surplus strains prices, eyes on China demand

Bumper sugar harvests in Thailand, India and the Philippines are tilting the global balance into surplus, sparking fierce competition and piling pressure on prices as fears over a slowdown in the world economy knocked futures off highs. New York raw sugar
Published 14 Aug, 2011 12:00am
China's July soyabeans imports jump

China's July soyabeans imports jump

China's soybean imports in July jumped 24.4 percent from the previous month to an eight-month high of 5.35 million tonnes, data from the General Administration of Customs showed on Wednesday. July imports, which were up 8.1 percent from a year earlier, ha
Published 14 Aug, 2011 12:00am
Syrian forces kill three; OIC calls to stop bloodshed

Syrian forces kill three; OIC calls to stop bloodshed

Syrian troops killed three people as tanks swept into a coastal city on Saturday, activists said, in a crackdown on protests against President Bashar al-Assad which drew criticism from an international Muslim group.
Published 14 Aug, 2011 12:00am
Obama, Saudi king urge end to Syria crackdown

Obama, Saudi king urge end to Syria crackdown

US President Barack Obama and Saudi Arabia's King Abdullah on Saturday called for an immediate end to the Syrian government's crackdown on protests against President Bashar al-Assad, the White House said.
Published 14 Aug, 2011 12:00am
Relief groups boost Mogadishu aid delivery

Relief groups boost Mogadishu aid delivery

UN humanitarian chief Valerie Amos said Saturday relief groups were ramping up aid delivery to tens of thousands of people affected by famine and drought in Somalia's war-riven capital Mogadishu. More than 100,000 people have fled to Mogadishu from other
Published 14 Aug, 2011 12:00am
Palestinians set date for UN statehood bid

Palestinians set date for UN statehood bid

The Palestinians are to present their bid for United Nations membership on September 20, Palestinian foreign minister Riyad al-Malki told AFP on Saturday. "Palestinian president Mahmud Abbas will personally present the request to UN Secretary General Ban
Published 14 Aug, 2011 12:00am
Five Iraqis killed

Five Iraqis killed

Bombings and shootings, including an attack near cafes and ice cream shops, killed five Iraqis and wounded 14 in the capital and a western town, officials said Saturday. A roadside bomb on Saturday hit a joint Iraqi police-army patrol as it parked by a dr
Published 14 Aug, 2011 12:00am
Top Bangladesh film-maker dies in road crash

Top Bangladesh film-maker dies in road crash

Award-winning Bangladeshi film-maker Tareq Masud died Saturday along with four other people in a road crash west of the country's capital, Dhaka, police said. Masud and four others, including the chief executive of Bangladesh's private ATN television news
Published 14 Aug, 2011 12:00am
23 dead in fighting in Philippines

23 dead in fighting in Philippines

At least 23 fighters were killed in clash between two Muslim rebel factions in the southern Philippines that started early this week, a military report said Saturday. The fighting erupted Tuesday between the main Moro Islamic Liberation Front and a group
Published 14 Aug, 2011 12:00am
Berlin marks 50th Wall anniversary

Berlin marks 50th Wall anniversary

Berlin on Saturday marked the 50th anniversary of the day the Berlin Wall started to go up with a memorial service and a minute of silence in memory of those who died trying to flee to the West. German President Christian Wulff, Chancellor Angela Merkel,
Published 14 Aug, 2011 12:00am
US anti-gang cop warns Britain over riot policy

US anti-gang cop warns Britain over riot policy

A US street crime expert enlisted by British Prime Minister David Cameron to help curb gangs after this week's riots warned Saturday that solving the problem was more complex than just arresting people. As police turned out in force in London on Saturday
Published 14 Aug, 2011 12:00am
Al Qaeda tries to produce lethal poison ricin

Al Qaeda tries to produce lethal poison ricin

US officials believe that a regional arm of al Qaeda is trying to produce the lethal poison ricin in order to use it in future attacks against the United States, The New York Times reported late Friday. Citing unspecified classified intelligence reports,
Published 14 Aug, 2011 12:00am
US expands probe of News Corp

US expands probe of News Corp

US authorities are investigating if Britain's News Corp had a broader pattern of misconduct in the United States, the Wall Street Journal reported in its online edition on Saturday. The latest investigation concerns past allegations of misconduct, includi
Published 14 Aug, 2011 12:00am
Celebrations in Cuba as Fidel Castro turns 85

Celebrations in Cuba as Fidel Castro turns 85

Cuban revolutionary icon Fidel Castro turns 85 on Saturday amid celebrations in his honour that he so far failed to attend. Cuba has been partying since Tuesday, with concerts, ballet performances and art exhibitions organised on behalf of the man who led
Published 14 Aug, 2011 12:00am
Tripoli denies rebel capture of western port town

Tripoli denies rebel capture of western port town

The Libyan government insisted Zawiyah was under the regime's control on Saturday, dismissing rebel claims of having captured the port city on the road to Tripoli. Zawiyah is completely under government control, government spokesman Mussa Ibrahim told rep
Published 14 Aug, 2011 12:00am
Texas Governor Perry running for president

Texas Governor Perry running for president

Ending months of speculation, conservative Texas Governor Rick Perry declared online Saturday that he is running for president, becoming the latest Republican candidate to mount a 2012 White House challenge.
Published 14 Aug, 2011 12:00am
Italy calls for euro bonds; UK backs fiscal union

Italy calls for euro bonds; UK backs fiscal union

Italian Economy Minister Giulio Tremonti stepped up calls for a more co-ordinated response to the eurozone debt crisis on Saturday ahead of a potentially vital summit between the leaders of France and Germany next week.
Published 14 Aug, 2011 12:00am
Italy calls for euro bonds; UK backs fiscal union

Italy calls for euro bonds; UK backs fiscal union

Italian Economy Minister Giulio Tremonti stepped up calls for a more co-ordinated response to the eurozone debt crisis on Saturday ahead of a potentially vital summit between the leaders of France and Germany next week.
Published 14 Aug, 2011 12:00am
German finance minister against 'collectivised' euro debt

German finance minister against 'collectivised' euro debt

Germany remains against any collectivisation of eurozone governments' debt and the creation of common euro bonds is impossible while countries run separate economic policy, Finance Minister Wolfgang Schaeuble has said.
Published 14 Aug, 2011 12:00am
Tanzania suspends oil firm for three months

Tanzania suspends oil firm for three months

Tanzania BP, an oil trading joint venture owned by the government and a subsidiary of commodity trader Trafigura, has been suspended from selling fuel for three months after refusing to do so because of a fall in oil prices, the energy regulator said.
Published 14 Aug, 2011 12:00am
France's Orange adds to iPhone 5 release hype

France's Orange adds to iPhone 5 release hype

French mobile network operator Orange has broken the secrecy surrounding Apple's new iPhone 5 through a job advert, despite the US firm's ban on its partners referring to the product before its expected Sptember release. Orange which is owned by France Te
Published 14 Aug, 2011 12:00am
Iran reiterates threat to take gas project off China

Iran reiterates threat to take gas project off China

Iran reiterated to China on Saturday it could take back control of a gas field being developed by its national oil company unless it speeds up investment, one week after the new Iranian oil minister said no foreign contractors were needed.
Published 14 Aug, 2011 12:00am
Asian ministers predict slowdown in growth

Asian ministers predict slowdown in growth

Asian economic ministers on Saturday predicted a slowdown in regional economic growth this year amid the European debt crises and planned spending cuts in the United States. The ministers said the developing economies of the 10-state Association of Southe
Published 14 Aug, 2011 12:00am
Canadian banks shifting rate hike views into 2012

Canadian banks shifting rate hike views into 2012

Canadian banks, which only last month expected the Bank of Canada to resume tightening this fall, are pushing rate hike forecasts into next year following some of the worst financial market turmoil since 2008. RBC Capital Markets and BMO Capital Markets,
Published 14 Aug, 2011 12:00am
Obama calls for extending payroll tax cut

Obama calls for extending payroll tax cut

US President Barack Obama said on Saturday that bitter fights between Democrats and Republicans in Washington were hurting the economy and he urged lawmakers to embrace compromise in order to boost job growth.
Published 14 Aug, 2011 12:00am
No change to dollar's key forex status: BoJ Shirakawa

No change to dollar's key forex status: BoJ Shirakawa

Bank of Japan Governor Masaaki Shirakawa said there was no immediate change to the dollar's status as a key global currency despite Standard & Poor's downgrade of the US sovereign debt rating, a Japanese newspaper reported on Saturday.
Published 14 Aug, 2011 12:00am
China mulls overseas trading for futures brokers

China mulls overseas trading for futures brokers

China may launch a pilot programme allowing three to four brokerages to broker trades on overseas exchanges and may finalise the list of companies by as early as next month, the Economic Observer reported on Saturday. Citing an unidentified source, the pa
Published 14 Aug, 2011 12:00am
China to double solar capacity by year-end

China to double solar capacity by year-end

China will double its solar capacity to around 2 gigawatts (GW) by the end of the year as the world's largest solar-panel maker ramps up domestic installation, a local paper said on Saturday citing a government-linked think tank.
Published 14 Aug, 2011 12:00am
India's top lender SBI profit slumps 46 percent

India's top lender SBI profit slumps 46 percent

India's top lender by assets, State Bank of India, reported on Saturday a bigger-than-expected 46 percent slide in quarterly profit from a year earlier as provisions against bad loans jumped. Net profit for the financial first quarter to June slumped to 1
Published 14 Aug, 2011 12:00am
Apple, publishers sued for alleged price fixing

Apple, publishers sued for alleged price fixing

Five book publishers and computer manufacturer Apple have been sued for allegedly colluding to drive up the price of e-books, lawyers for the plaintiffs said. The class-action suit, filed in the US District Court here, claims HarperCollins, Hachette, Macm
Published 14 Aug, 2011 12:00am
Triumphant England on top of the world

Triumphant England on top of the world

England surged to the top of the world rankings after crushing India by an innings and 242 runs in the third Test on Saturday to secure their sixth consecutive series win. Fast bowler James Anderson claimed four for 85 as India were dismissed for 244 afte
Published 14 Aug, 2011 12:00am