News Archives for Latest - 2011-08-17

Middle East

Syrian forces kill 9 people in Homs

AMMAN : Forces loyal to Syrian President Bashar al-Assad killed nine people in attacks on the city of Homs on Wednesda

Published 17 Aug, 2011 08:47pm

Financial

Caution reigns as US stocks close mixed

NEW YORK : US stocks gave up early gains to close little changed Wednesday as caution reigned in the still-jittery marke

Published 17 Aug, 2011 08:38pm

World

Chavez to nationalize Venezuelan gold industry

CARACAS : Venezuelan President Hugo Chavez said on Wednesday he will nationalize the gold industry, including extraction

Published 17 Aug, 2011 08:09pm

World

Chile Jan-July forestry exports up 38pc near $3bn

SANTIAGO: Chile forestry exports rose 38 percent from January through July, boosted by high cellulose prices and solid d

Published 17 Aug, 2011 08:09pm

Movies & Music

Janet Jackson cancels show at tragedy-hit Indiana fair

WASHINGTON : Pop star Janet Jackson was forced to cancel a performance planned for Wednesday at the Indiana state fair

Published 17 Aug, 2011 07:58pm

Commodities

NY cotton ends limit up and expected to go higher

NEW YORK : Cotton futures settled Thursday up their daily limit on investor buying on bullish technicals and analysts sa

Published 17 Aug, 2011 07:54pm

Commodities

ICE Canada canola rises with soy, crude

WINNIPEG : ICE Canada canola futures rose on Wednesday, following soybeans and crude oil higher. * Improving Canada

Published 17 Aug, 2011 07:49pm

Top News

Congress, not Fed, must do more for economy: Fisher

MIDLAND : The US Federal Reserve has no business easing monetary policy further when the real problem facing the economy

Published 17 Aug, 2011 07:23pm

Financial

Wall St reverses early gains as tech drags

NEW YORK : US stocks slipped on Wednesday, reversing gains of more than 1 percent, as weak results from Dell dragged d

Published 17 Aug, 2011 07:13pm

Energy

Coal India becomes nation's most valuable company

MUMBAI: Mining heavyweight Coal India overtook energy giant Reliance Industries on Wednesday to become India 's bigge

Published 17 Aug, 2011 07:12pm

World

Brazil June activity down, first time since 2008

SAO PAULO : Brazil 's economic activity fell in June for the first time since December 2008, the central bank said on W

Published 17 Aug, 2011 06:49pm

Europe

Croatian ex-PM Sanader detained for further two months

ZAGREB : A Croatian judge on Wednesday extended by two months the detention of former prime minister Ivo Sanader, held i

Published 17 Aug, 2011 06:49pm

Commodities

Palm oil firmer on dwindling stocks

ROTTERDAM : Palm oil on the European vegetable oil market firmed on Wednesday as speculators bet on lower palm oil stock

Published 17 Aug, 2011 06:43pm

Commodities

Brazil mid-crop cocoa output could yet surprise

SAO PAULO : Forecasts for Brazil 's mid-crop cocoa harvest may have been too conservative, analyst Thomas Hartmann said

Published 17 Aug, 2011 06:43pm

Industry

Apple, Qualcomm, others eye InterDigital: sources

NEW YORK : Apple Inc, Nokia and Qualcomm Inc are among several technology companies pondering bids for InterDigital Inc,

Published 17 Aug, 2011 06:21pm

Commodities

NY juice finishes higher on investor buying

NEW YORK : Orange juice futures settled higher Wednesday on follow-through investor short-covering with switch trade b

Published 17 Aug, 2011 06:17pm

Africa

Somali famine needs urgent response: Britain

NAIROBI : Deaths in famine-hit Somali regions will escalate unless urgent action is taken, the first British minister to

Published 17 Aug, 2011 06:09pm

Commodities

Gold flat after 2-day rally, inflation underpins

NEW YORK/LONDON: Gold traded flat on Wednesday as the market paused after a two-day rally, but signs of rising inflation

Published 17 Aug, 2011 05:30pm

Europe

Prince Charles visits riot-hit London communities

LONDON : Prince Charles and his wife Camilla on Wednesday met families left homeless by the London riots, with some lo

Published 17 Aug, 2011 05:23pm

Managed Funds

Funding strains prompt demand for ECB dollar tender

LONDON : Interbank dollar borrowing costs rose on Wednesday and the European Central Bank's weekly dollar tender attract

Published 17 Aug, 2011 05:23pm

Africa

Libya rebels push to strangle Tripoli, plan transition

BENGHAZI : Libya 's rebels pushed to strangle two supply lines to Tripoli on Wednesday hoping to ratchet up pressure

Published 17 Aug, 2011 05:15pm

Managed Funds

US bond prices turn positive, 30s gain a point

N NEW YORK : US Treasuries prices rose on Wednesday, overturning earlier losses, with 30-year bonds rising over a poin

Published 17 Aug, 2011 05:15pm

Financial

Gilt yields hit record low on BoE and Bund rally

LONDON: Ten-year gilt yields tumbled to a record low on Wednesday after the Bank of England's August minutes opened the

Published 17 Aug, 2011 04:59pm

Top News

World population will reach 7 billion this year: study

PARIS : The world population will reach seven billion later this year, with increases in the number of people in Africa

Published 17 Aug, 2011 04:59pm

Commodities

Copper rises on weaker dollar, firmer equities

LONDON : Copper rose to its highest in a week on Wednesday as the dollar fell and stronger world equities improved risk

Published 17 Aug, 2011 04:52pm

Industry

Debt collectors begin taking stock of Saab assets

STOCKHOLM : Swedish authorities on Wednesday launched an official debt collection probe of beleaguered carmaker Saab, wh

Published 17 Aug, 2011 04:47pm

Commodities

Sugar and coffee surge as macro picture improves

NEW YORK/LONDON: Raw sugar rallied more than 4 percent on Wednesday, while arabica coffee surged more than 10 cents a lb

Published 17 Aug, 2011 04:47pm

Managed Funds

Berlin, Paris face fight on tightening up EU investment

BRUSSELS: French-German plans to make EU investment funds for eurozone countries conditional on good their housekeeping

Published 17 Aug, 2011 04:22pm

Financial

Turkish assets recover, bond yields at 7-mth low

ISTANBUL : Turkey 's lira firmed on Wednesday, aided by gains in the euro against the dollar and a tentative recovery i

Published 17 Aug, 2011 04:22pm

Europe

Norway court denies gunman's request for 'disturbing' attire

OSLO : A judge on Wednesday closed the court for the next appearance of Anders Behring Breivik, who has confessed to No

Published 17 Aug, 2011 04:09pm

Money & Banking

Swiss intervention threat to cap big franc gains

LONDON : Switzerland 's central bank has so far held off from direct intervention to slow the franc's gains, but a thre

Published 17 Aug, 2011 04:09pm

Financial

Euro extends losses vs Swiss franc

NEW YORK : The euro extended declines against the Swiss franc on Wednesday as investors expressed disappointment with me

Published 17 Aug, 2011 04:00pm

Financial

European shares hit 1-week closing high

LONDON : European equities closed at their highest level in more than a week on Wednesday after early losses following d

Published 17 Aug, 2011 03:57pm

Commodities

US wheat rallies on crop concerns, soy also surges

KANSAS CITY : US wheat rose for a seventh straight session on Wednesday to match the longest rally since January as a

Published 17 Aug, 2011 03:57pm

Financial

Swiss franc continues to strengthen

NEW YORK : The Swiss franc continued to strengthen against both the euro and the dollar on Wednesday after the Swiss fin

Published 17 Aug, 2011 03:48pm

Top News

Rising British unemployment sparks new fears over economy

LONDON : Britain 's jobless total has risen unexpectedly for the first time since January, data showed Wednesday, spark

Published 17 Aug, 2011 03:48pm

Top News

Huge anti-graft rally piles pressure on India gov't

NEW DELHI: Tens of thousands of protestors took to the streets of New Delhi Wednesday in support of a fasting anti-corru

Published 17 Aug, 2011 03:30pm

Africa

UN pulls non-essential staff from Syria

BEIRUT: The United Nations on Wednesday said it had withdrawn about 25 international staff and dozens of families of exp

Published 17 Aug, 2011 03:16pm

Top News

Former MNA killed in Karachi

KARACHI: Ex-MNA and senior Pakistan Peoples Party (PPP) leader Waja Kareem Dad was gunned down in Kharadar area here Wed

Published 17 Aug, 2011 03:16pm

Financial

Global stocks rise on US earnings, oil gains

NEW YORK : World equities rose on Wednesday, lifted by strong outlooks and results from US retailers, while crude oil ga

Published 17 Aug, 2011 03:08pm

Commodities

Wheat near 2-month top on US crop woes; corn flat

HAMBURG: Chicago wheat futures dipped slightly on Wednesday but still traded near a 2-month high as concerns over US spr

Published 17 Aug, 2011 03:08pm

Top News

Southern African leaders open talks amid unrest, crises

LUANDA: Southern African leaders met Wednesday for a two-day summit in Angola, but were largely silent on growing unrest

Published 17 Aug, 2011 03:06pm

Financial

Wall St rises on strong earnings, oil jump

NEW YORK : US stocks rose on Wednesday, buoyed by earnings reports from consumer bellwethers like Target. Energy sh

Published 17 Aug, 2011 03:00pm

Financial

Euro climbs to session peak against the dollar

NEW YORK : The euro rose to a session peak against the dollar on Wednesday on electronic trading platform EBS on broad d

Published 17 Aug, 2011 02:57pm

Managed Funds

US bonds choppy on economy, inflation data

NEW YORK : US Treasury prices were little changed on Wednesday in light, choppy trading as investors grappled with the p

Published 17 Aug, 2011 02:52pm

Industry

Iraq awards $471.7mn contract to Saipem

BAGHDAD: Iraq has awarded a $471.7 million contract for an oil export facility expansion and sub-sea pipeline to Italian

Published 17 Aug, 2011 02:48pm

North America

Obama to outline jobs, deficit plan in September

ROCK ISLAND : President Barack Obama will give a major speech in September outlining fresh plans to create jobs, cut

Published 17 Aug, 2011 02:48pm

Cricket

Dhoni warns against India 'panic'

LONDON : India captain Mahendra Singh Dhoni warned against "panic" measures as his team aimed to salvage some pride aga

Published 17 Aug, 2011 02:48pm

Money & Banking

Slovak central bank says expects inflation to pick up

BRATISLAVA: Slovak inflation is likely to pick up again in August after a drop in July due to a rise in gas, heating and

Published 17 Aug, 2011 02:46pm

Pakistan

Wasan directs police for result-oriented steps on law, order

KARACHI : Sindh Home Minister Manzoor Hussain Wasan has directed the top brass of Sindh Police to take result-oriented s

Published 17 Aug, 2011 02:40pm

Top News

Swedish debt head sees budget surpluses, if smaller

STOCKHOLM: The head of Sweden's Debt Office said current economic uncertainty would probably mean lower than previously

Published 17 Aug, 2011 02:40pm

Top News

Unilever targets emerging markets for 75pc of sales

ISTANBUL: Consumer goods group Unilever expects to see three-quarters of its turnover from emerging markets by 2020 as h

Published 17 Aug, 2011 02:00pm

Commodities

India's Emmsons offers $329.11/T wheat to Bangladesh

DHAKA: India's Emmsons International Limited made the lowest offer at $329.11 a tonne, including CIF liner out, in a Ban

Published 17 Aug, 2011 02:00pm

Energy

Brent oil rises to $110, US gasoline supports

LONDON : Brent crude rose on Wednesday to $110 a barrel after an industry report showed a larger-than-expected decline i

Published 17 Aug, 2011 01:58pm

Business & Finance

UNESCO delegation visits KU

KARACHI: A delegation of UNSECO visited the University of Karachi. An official of the institution said on Wednesday t

Published 17 Aug, 2011 01:53pm

Financial

Bunds rally on lack of action from summit

LONDON : German government bonds rallied on Wednesday and were likely to remain supported as French and German plans for

Published 17 Aug, 2011 01:52pm

Financial

Dollar falls to session low against yen

NEW YORK : The dollar fell to a session low against the yen on Wednesday on electronic trading platform EBS amid concern

Published 17 Aug, 2011 01:52pm

Financial

Mexico peso gains as broadly weaker dollar

MEXICO CITY: Mexico's peso gained on Wednesday in trading before the official open, as the dollar sank against a basket

Published 17 Aug, 2011 01:51pm

Managed Funds

US bonds pare earlier price losses

NEW YORK : US Treasuries pared their earlier price losses on Wednesday to briefly trade positive, and were last little

Published 17 Aug, 2011 01:46pm

Financial

US stocks bounce higher in opening trade

NEW YORK : US stocks opened modestly higher Wednesday, rebounding from losses the previous day, on mixed corporate ea

Published 17 Aug, 2011 01:46pm

Top News

Merkel, Sarkozy discussed euro bonds, both negative

BERLIN: German Chancellor Angela Merkel and French President Nicolas Sarkozy discussed proposals for common euro zone bo

Published 17 Aug, 2011 01:46pm

Pakistan

Kaira asks Nawaz to focus on elections instead of long march

LAHORE : Pakistan People's Party Information Secretary Qamar Zaman Kaira said on Wednesday that PML-N chief Mian Nawaz

Published 17 Aug, 2011 01:35pm

Pakistan

Ishratul Ebad calls on PM Gilani

ISLAMABAD : Sindh Governor Dr Ishratul Ebad called on Prime Minister Syed Yousuf Raza Gilani. Sources told both th

Published 17 Aug, 2011 01:34pm

Pakistan

Gilani for building stronger ties with Oman

ISLAMABAD : Prime Minister Syed Yusuf Raza Gilani on Wednesday stressed the need of building stronger economic and polit

Published 17 Aug, 2011 01:30pm

Pakistan

CM presents Rs1mn grant to Upper Dir Bar

PESHAWAR : Chief Minister Khyber Pakhtunkhwa, Ameer Haidar Khan Hoti has said that people of district Dir Upper have pro

Published 17 Aug, 2011 01:30pm

Middle East

Israel firm on no apology to Turkey for ship raid

JERUSALEM: Israel will stick to its refusal to apologise to Turkey for killing nine of its citizens aboard a Gaza-bound

Published 17 Aug, 2011 01:29pm

Business & Finance

Pakistan deports seven Afghan nationals

LANDIKOTAL: Pakistan deported seven Afghan nationals while Afghanistan handed over three Pakistanis at Torkham Pak-A

Published 17 Aug, 2011 01:23pm

Top News

Pakistan needs Malaysian assistance in Halal food: Motiwala

KARACHI : Chairman, Sindh Board of Investment (SBI) Muhammad Zubair Motiwala has urged Malaysia to assist Pakistan i

Published 17 Aug, 2011 01:18pm

Top News

Filling stations call for fixing minimum 45 pc price gap in CNG, petrol

KARACHI : CNG filling stations have urged the government to issue notification for maintaining at least 45 percent price

Published 17 Aug, 2011 01:09pm

Top News

Dell slides after cutting rev outlook on weak IT spending

BANGALORE: Shares of Dell Inc fell more than 7 percent in pre-market trading on Wednesday, a day after the world's secon

Published 17 Aug, 2011 01:03pm

Industries & Sectors

CNG station’s gas load shedding cut down to 2 days

ISLAMABAD : Ministry of Petroleum on Wednesday decided to slash spans of gas load shedding at CNG stations in Punjab a

Published 17 Aug, 2011 01:03pm

Cricket

England upbeat about Anderson ahead of India finale

LONDON : England is increasingly confident spearhead fast bowler James Anderson will be fit to face India in the fourth

Published 17 Aug, 2011 12:24pm

Financial

Milan stocks move back into positive territory

MILAN : Italian stocks moved back into positive territory on Wednesday afternoon after investors regained confidence fo

Published 17 Aug, 2011 12:18pm

Top News

Pakistan eases conditions for LNG import

ISLAMABAD : Pakistan has removed a condition that required companies interested in supplying LNG to enter into long-te

Published 17 Aug, 2011 12:16pm

Money & Banking

High excess liquidity pulls down Euribor rates

FRANKFURT : Key euro-priced bank-to-bank lending rates ticked down on Wednesday, with high excess liquidity outweighing

Published 17 Aug, 2011 11:56am

Business & Finance

KU extends B.Ed., M.Ed. admission dates up to Sept 16

KARACHI : The University of Karachi has extended the date for admission to B.Ed. and M. Ed. courses up to September

Published 17 Aug, 2011 11:51am

Business & Finance

Floods render 60,000 people homeless

ISLAMABAD : Rains triggered floods in Pakistan affecting 700,000 people and forcing 60,000 from their homes, a private

Published 17 Aug, 2011 11:48am

Business & Finance

SAU announces external degree exam forms filing schedule

HYDERABAD : Controller of Examinations University of Sindh Wednesday announced the schedule for filling of examination f

Published 17 Aug, 2011 11:43am

Business & Finance

Date for submitting LL.M admission forms extended

HYDERABAD : The Director Admissions University of Sindh Wednesday extended the date for submission of admission forms fo

Published 17 Aug, 2011 11:38am

Business & Finance

NATO oil tanker gutted in Quetta

QUETTA : An oil tanker was gutted when it got fire after attack by some unidentified persons here in the Mian Gundi, a s

Published 17 Aug, 2011 11:38am

Top News

Morocco's trade deficit widens 21pc by end-July

RABAT : Morocco 's trade deficit jumped 21 percent in the January-July period from a year ago to a record 106.4 billion

Published 17 Aug, 2011 11:26am

Top News

Thai govt plays down inflation fears, sees higher GDP

BANGKOK: Inflation in Thailand may be a little higher than expected this year while the economy may grow by one percenta

Published 17 Aug, 2011 11:26am

Markets

Karachi Stock Exchange ended higher

KARACHI : Karachi Stock Exchange (KSE) ended higher on Wednesday led by energy stocks after the government said it wou

Published 17 Aug, 2011 11:16am

Markets

Rupee ended lower against dollar

KARACHI: Rupee ended at 86.64/70 to the dollar on Wesnesday , weaker than Tuesday's close of 86.60/65, amid higher imp

Published 17 Aug, 2011 11:16am

Financial

Indian bond yields steady; supply, higher crude weigh

MUMBAI: Indian federal bond yields were largely steady on Wednesday, mirroring lower US yields and as investors found

Published 17 Aug, 2011 11:10am

Commodities

Indian states seek more rice exports

NEW DELHI : Several Indian states have asked the government to allow more rice exports, Food Minister K.V. Thomas said o

Published 17 Aug, 2011 11:03am

Financial

Swiss franc jumps as fresh SNB steps disappoint

LONDON : The Swiss franc jumped on Wednesday as fresh steps by the Swiss National Bank to stem franc gains disappointed

Published 17 Aug, 2011 11:01am

Industries & Sectors

Shipping activity at Port Qasim

KARACHI : Shipping activity remained active at the Port Qasim where four ships carrying containers, chemicals and diesel

Published 17 Aug, 2011 10:57am

Managed Funds

T-notes edge higher on lack of euro zone progress

LONDON : Treasury futures edged higher on Wednesday drawing support from disappointment among euro zone investors that a

Published 17 Aug, 2011 10:54am

Markets

Highnoon Laboratories posts profit

KARACHI : Highnoon Laboratory Ltd has posted a higher profit after tax of Rs38.531 million for the half year ending Jun

Published 17 Aug, 2011 10:54am

Commodities

Tokyo futures down 0.4pc, momentum weak

TOKYO : Key Tokyo rubber futures ended down 0.4 percent on Wednesday as a sharp deterioration in economic conditions a

Published 17 Aug, 2011 10:39am

Commodities

Gold steady, euro zone crisis seen lingering

SINGAPORE: Gold held steady near a record high on Wednesday after a Franco-German summit failed to convince investors th

Published 17 Aug, 2011 10:38am

Commodities

LME copper up on steady China demand, Asian equities

SHANGHAI : LME copper bounced up on Wednesday, lifted by arbitrage trading, relative calmness in Asia 's equities marke

Published 17 Aug, 2011 10:35am

Commodities

Palm oil up as traders bet on stocks below 2mn tonnes

KUALA LUMPUR : Malaysian palm oil futures edged higher on Tuesday as traders bet strong exports would rein in stocks bel

Published 17 Aug, 2011 10:28am

Financial

Won, Singapore dollar down, Asian FX sentiment still fragile

SINGAPORE : The South Korean won and the Singapore dollar eased as interbank speculators added dollar positions follow

Published 17 Aug, 2011 10:26am

Managed Funds

US 10-year notes firmer as equities dip

SINGAPORE : US Treasuries edged higher in Asian trading on Wednesday, with a dip in US stock futures spurring a bit

Published 17 Aug, 2011 10:21am

Top News

Education key to fight extremism, terrorism and ignorance: PM

ISLAMABAD : Prime Minister Syed Yusuf Raza Gilani on Wednesday said education was the key to fight against ignorance, ex

Published 17 Aug, 2011 09:54am

Top News

Biden heads to China under debt cloud

BEIJING: US Vice President Joe Biden arrives in China Wednesday to try to revive his country's image after a historic de

Published 17 Aug, 2011 09:28am

Business & Finance

Three bullet riddle bodies recovered from Tariq Road

KARACHI : Bullet riddle bodies of three young men were recovered from Tariq Road Grave Yard in the wee hours of Wednesda

Published 17 Aug, 2011 09:25am

Business & Finance

Chances of drizzle in Karachi: Met Office

KARACHI: The Met office has forecast mostly cloudy weather with chances of drizzle in Karachi and the city’s maximum tem

Published 17 Aug, 2011 09:21am

Industries & Sectors

100pc production possible after repair of Blast Furnace: PSM

KARACHI : Hundred percent production has been made possible after the repair of Blast Furnace, said a press release issu

Published 17 Aug, 2011 09:14am

Europe

British official unemployment rate rises to 7.9pc

LONDON : Britain's unemployment rate grew to 7.9 percent in the three months to the end of June from 7.7 percent for the

Published 17 Aug, 2011 09:04am

Cricket

Aussie captain looks for better show

HAMBANTOTA: Australia captain Michael Clarke has urged his team to raise their game in the remaining two one-day interna

Published 17 Aug, 2011 08:58am

Middle East

Eight Turkish troops killed in Kurdish ambush: TV

ANKARA : Kurdish rebels killed eight Turkish soldiers on Wednesday in an ambush in the southeast of the country, accordi

Published 17 Aug, 2011 08:50am

Energy

Oil hits top Philippine carrier's interim profit

MANILA: Top Philippine carrier Cebu Pacific saw its first half net profit plunge 22.9 percent, due mainly to a huge spik

Published 17 Aug, 2011 08:40am

Industry

Jaguar concept car to be unveiled in Frankfurt

NEW DELHI: India's Tata Motors said Wednesday it will unveil its new Jaguar C-X16 sports concept car at the Frankfurt Mo

Published 17 Aug, 2011 08:39am

Industry

Qantas chief defends controversial Asia overhaul

SYDNEY : Qantas chief Alan Joyce vigorously defended the company's Asia-focused restructuring plans Wednesday, saying th

Published 17 Aug, 2011 08:31am

Business & Finance

Seasonal, swine flu vaccines must for Hajj pilgrims

ISLAMABAD : Seasonal and swine flu vaccination have made mandatory for intending Hajj pilgrims to protect them from vira

Published 17 Aug, 2011 08:29am

Top News

July c/a deficit at $75m: SBP

KARACHI: Pakistan's current account deficit stood at a provisional $75 million in July, the first month of the 2011/12 f

Published 17 Aug, 2011 08:26am

Financial

Hong Kong shares up 0.38pc

HONG KONG: Hong Kong stocks rose 0.38 percent on Wednesday as dealers shrugged off an uninspiring eurozone crisis meet

Published 17 Aug, 2011 08:23am

Industries & Sectors

Power shortfall drops to 2,443 MW

ISLAMABAD : The electricity shortfall in the country on Wednesday dropped to 2,443 MW as the total power generation was

Published 17 Aug, 2011 08:15am

Top News

Eurozone current account worsens in June: ECB

FRANKFURT : The eurozone's current account balance worsened in June to a deficit of 7.4 billion euros ($10.6 billion),

Published 17 Aug, 2011 08:14am

Industry

Hyundai Motor, union to restart wage talks on Friday

SEOUL : Hyundai Motor's labour union on Wednesday accepted a management proposal to resume wage talks on Friday, a union

Published 17 Aug, 2011 08:06am

Money & Banking

SNB expands liquidity to fight strong franc

ZURICH : The Swiss National Bank said on Wednesday it would further expand liquidity measures to counter a runaway Swiss

Published 17 Aug, 2011 07:59am

Top News

Top US Republicans urge no tax hikes in debt deal

WASHINGTON : Top US Congress Republicans, looking to a battle over the country's debt in the coming months, called Wedn

Published 17 Aug, 2011 07:59am

Top News

OIC meets on Somalia in Istanbul

ISTANBUL : The Organisation of Islamic Cooperation was to hold an emergency meeting of foreign ministers in Istanbul o

Published 17 Aug, 2011 07:56am

Money & Banking

Greek central bank may activate assistance for lenders

ATHENS : Greece's central bank stands ready to grant emergency assistance to any lender who might face liquidity shortag

Published 17 Aug, 2011 07:42am

Top News

OIC meets on Somalia in Istanbul

ISTANBUL : Representatives from member countries of the Organisation of Islamic Cooperation (OIC) convened in an emerge

Published 17 Aug, 2011 07:40am

Top News

Gold price hit all times high

PESHAWAR : The gold price registered record increase in the country's history on Wednesday with per tola price standing

Published 17 Aug, 2011 07:39am

Top News

2nd round of Pak, India parliamentary dialogue from August 18

ISLAMABAD : A 13-member multiparty parliamentary delegation, headed by Deputy Speaker National Assembly Faisal Karim Kun

Published 17 Aug, 2011 07:37am

Financial

South Korean shares close 0.68pc higher

SEOUL : South Korean shares closed 0.68 percent higher on Wednesday as demand by individuals offset slowing purchases by

Published 17 Aug, 2011 07:37am

Top News

Low flood expected in Ravi, Sutlej Rivers

ISLAMABAD : The Federal Flood Commission (FFC) on Wednesday said the presently, all the main rivers are flowing normal a

Published 17 Aug, 2011 07:35am

Financial

European stocks drop at open; Frankfurt loses 1.4pc

LONDON: Europe's main stock markets dropped at the start of trading on Wednesday as investors reacted to a Franco-German

Published 17 Aug, 2011 07:33am

Money & Banking

Kenya central bank raises discount window rate to 15.68pc

NAIROBI : Kenya's central bank raised on Wednesday its discount window rate to 15.68 percent from 13.87 percent a day ea

Published 17 Aug, 2011 07:31am

Financial

Indian rupee rangebound; eyes stocks, euro for cues

MUMBAI: The Indian rupee was largely steady on Wednesday, after a choppy start, as local share gains offset losses in th

Published 17 Aug, 2011 07:25am

Top News

Mistrust prevails in cross-LoC trading

MUZAFARABAD: In Salamabad, located on the Line of Control (LoC), Shabir Ahmad bartered Kashmiri chillies for dates with

Published 17 Aug, 2011 07:23am

Managed Funds

Bund rallies on disappointing French-German meeting

LONDON : German government bonds rose on Wednesday and were likely to remain supported as French and German plans for cl

Published 17 Aug, 2011 07:20am

Asia

Australia to decide on F-35 fighter purchase in 2012

CANBERRA : Australia will decide in 2012 whether to continue with a $16.8 billion purchase of 100 of Lockheed Martin F-3

Published 17 Aug, 2011 07:12am

Financial

Belgium to auction 2014, 2021 and 2035 bonds

BRUSSELS : Belgium plans to sell three bonds at an auction next week, the debt agency said. The government will sell

Published 17 Aug, 2011 06:56am

Asia

Hundreds of Indian websites, web pages hacked

SRINAGAR: An Indian occupied Kashmir (IoK) based cyber hackers group hacked more than 200 websites across India on Monda

Published 17 Aug, 2011 06:50am

Financial

Australian stocks gain 1.32pc

SYDNEY : Australian stocks closed 1.32 percent up on Wednesday with the market gaining confidence from corporate earning

Published 17 Aug, 2011 06:47am

Industries & Sectors

Pakistan moves international court to stall Kishenganga power project

HAGU E: Pakistan has filed a petition in the Court of Arbitration (CoA), The Hague, seeking an order to ask India to put

Published 17 Aug, 2011 06:47am

Industry

Airline SAS Q2 earnings beat fcast, sees 2011 profit

STOCKHOLM : Scandinavian airline SAS swung to a second-quarter pretax profit that was much higher than market expectatio

Published 17 Aug, 2011 06:41am

Money & Banking

Philippine central bank could tighten prudential limits if needed

MANILA : The Philippine central bank may consider tightening prudential limits sooner rather than later if market-based

Published 17 Aug, 2011 06:33am

Top News

Pakistan is partner in anti-terror fight: US

WASHINGTON : Pakistan is America 's partner in the fight against terrorism and the two countries will continue to wor

Published 17 Aug, 2011 06:28am

Business & Finance

World Humanitarian Day on Friday

ISLAMABAD: The United Nations'(UN) World Humanitarian Day to be observed on August 19th over the world including Pakista

Published 17 Aug, 2011 06:22am

Financial

Japanese shares close 0.55pc lower

TOKYO: Japanese shares closed down 0.55 percent on Wednesday as dealers fretted over the economic outlook in the US and

Published 17 Aug, 2011 06:17am

Top News

July c/a deficit at $75m: SBP

KARACHI : C urrent account deficit stood at a provisional $75 million in July, the first month of the 2011/12 fiscal yea

Published 17 Aug, 2011 06:16am

Top News

First full post-disaster reactor restart in Japan

TOKYO : Japan on Wednesday neared the first full resumption of commercial operations of an atomic reactor since the Ma

Published 17 Aug, 2011 06:14am

Financial

Euro steadies in Tokyo after earlier falls

TOKYO: The euro steadied against major currencies in Asia on Wednesday after falling in the wake of talks between the

Published 17 Aug, 2011 06:12am

Top News

Industrial production stays positive at 1.14pc

ISLAMABAD : The Large Scale Manufacturing (LSM) has registered positive growth of 1.14 percent during the fiscal year 20

Published 17 Aug, 2011 06:12am

Top News

DG FIA resigns during hearing in Supreme Court

ISLAMABAD : The Director General (DG) of Federal Investigation Agency (FIA) presented his resignation before the Supreme

Published 17 Aug, 2011 06:10am

Asia

South Korea developing anti-ship missiles

SEOUL: The South Korean military is developing anti-ship cruise missiles, a news report said Wednesday, after sea trials

Published 17 Aug, 2011 06:06am

Industry

Japan disaster plant cold shutdown could face delay

TOKYO : Tokyo Electric Power Co said on Wednesday that it may fail in its bid to achieve "cold shutdown" at its tsunami-

Published 17 Aug, 2011 06:04am

Industry

Japan's Hokkaido Electric gets OK for reactor: media

TOKYO : Japan 's Hokkaido Electric Power Co won local government backing on Wednesday for commercial operation of a nuc

Published 17 Aug, 2011 06:02am

Africa

Libya rebels see victory by end of August

BENGHAZI : Libya's rebels were bolstered by fresh battlefield advances Wednesday, as leaders claimed the six-month-old c

Published 17 Aug, 2011 05:59am

Europe

Russia presents new nuclear plan to Iran

MOSCOW : Russia pressed ahead Wednesday with its drive to revive the stalled nuclear talks between Iran and Western

Published 17 Aug, 2011 05:54am

Commodities

Spot gold to retrace to $1,772

SINGAPORE : Spot gold is expected to retrace to $1,772 per ounce, according to its wave pattern and the RSI indicator.

Published 17 Aug, 2011 05:51am

Pakistan

Rubina claims all current problems gift of dictators

ISLAMABAD : Parliamentary Secretary for Human Rights, Rubina Saadat Qaimkhani said that terrorism and other issues being

Published 17 Aug, 2011 05:49am

Business & Finance

Flood water enters Thatta, inundates more than 50 villages

ISLAMABAD : More than 50 villages were inundated when floodwater coming from Badin saline nullahs entered in two tehsils

Published 17 Aug, 2011 05:48am

Pakistan

Govt. efforts satisfactory in flood affected areas: Taj Haider

ISLAMABAD : Pakistan People's Party leader, Taj Haider on Wednesday said that about 3,00,000 families were affected fr

Published 17 Aug, 2011 05:41am

Top News

New Zealand economy likely posted good growth in Q2

WELLINGTON : New Zealand's economy probably grew solidly in the second quarter as activity picked up after a devastating

Published 17 Aug, 2011 05:40am

Asia

Earthquake jolts eastern Japan, felt in Tokyo

TOKYO : An earthquake with a preliminary magnitude of 4.4 jolted eastern Japan on Wednesday, public broadcaster NHK sa

Published 17 Aug, 2011 05:27am

Commodities

Palm oil target 3,144 ringgit/T aborted

SINGAPORE : A bullish target at 3,144 ringgit per tonne has been aborted for Malaysian palm oil and a bearish target has

Published 17 Aug, 2011 05:26am

Asia

India anti-graft campaigner fasts in stand-off with government

NEW DELHI : India 's leading anti-corruption campaigner fasted in jail on Wednesday after refusing a police release ord

Published 17 Aug, 2011 05:26am

Cricket

Ex-Qantas chief named World Cup supremo

SYDNEY : The former chief of Australian airline Qantas was Wednesday appointed chairman of the organising committee for

Published 17 Aug, 2011 05:19am

Asia

Li says to further open up service industries to HK

HONG KONG: Chinese Vice-Premier Li Keqiang said on Wednesday that Beijing plans to further open up services industries t

Published 17 Aug, 2011 05:18am

Commodities

LME copper to retest resistance $9,003/T

SINGAPORE : LME copper is expected to retest resistance at $9,003 per tonne, a trigger level for a further rise to $9,22

Published 17 Aug, 2011 05:12am

Cricket

England seek India whitewash at Oval

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Published 17 Aug, 2011 05:10am

Industry

Sany Heavy to seek $3.5bn HK offer approval on Aug 25

HONG KONG: Sany Heavy Industry , a Chinese maker of construction machinery, will seek approval for a stock offering in H

Published 17 Aug, 2011 05:06am

World

Chavez says weakened by cancer treatment

CARACAS : Venezuelan President Hugo Chavez said Tuesday the cancer he has been battling has not spread, but admitted the

Published 17 Aug, 2011 05:04am

Industry

Tobacco firms sue US over graphic cigarette labels

WASHINGTON : Four tobacco companies filed a lawsuit against the US Food and Drug Administration (FDA) on Tuesday over wh

Published 17 Aug, 2011 05:04am

Industry

LME aluminium may bottom around $2,363/T

SINGAPORE : LME aluminium's fall may have ended and the contract may bottom out around $2,363 per tonne.
The short-t

Published 17 Aug, 2011 04:59am

Financial

China sells retail bonds in offshore yuan mkt at 1.6pc

HONG KONG: China's Ministry of Finance sold a five billion yuan retail tranche of a 20 billion yuan ($3.13 billion) offe

Published 17 Aug, 2011 04:55am

Industry

Sony to cut PS3 price

TOKYO : Sony is slashing the price of its PlayStation 3 game console across North America , Europe and in Japan , th

Published 17 Aug, 2011 04:54am

North America

Lightning strike injures eight at Florida water park

MIAMI : Eight people were injured in a lightning strike Tuesday at SeaWorld's Discovery Cove water park in Orlando , F

Published 17 Aug, 2011 04:48am

Commodities

CBOT soybeans neutral, downside bias

SINGAPORE : CBOT soybeans November contract is technically neutral but is biased to fall towards the Aug. 12 low of $13.

Published 17 Aug, 2011 04:48am

Top News

Singapore July exports drop, raising recession risk

SINGAPORE : Singapore's non-oil domestic exports fell unexpectedly in July as electronics shipments contracted for a six

Published 17 Aug, 2011 04:42am

Financial

Thai stocks seen range-bound; dividend plays in focus

BANGKOK : Thai stocks may move narrowly on Wednesday as fears about the euro zone's debt crisis and worries about global

Published 17 Aug, 2011 04:37am

Financial

Japanese shares open 0.65pc lower

TOKYO : Japanese shares opened 0.65 percent lower on Wednesday, after data showed a sharp slowdown in Germany's economic

Published 17 Aug, 2011 04:33am

Managed Funds

JGBs edge up on stocks; political uncertainty caps gains

TOKYO : Japanese government bonds edged up on Tuesday as Tokyo stocks weakened, though the market lacked the momentum to

Published 17 Aug, 2011 04:27am

Financial

China's CITIC Securities plans Hong Kong share sale

HONG KONG: Citic Securities, China's biggest listed brokerage, is planning to raise about US$1.5 billion in a Hong Kong

Published 17 Aug, 2011 04:24am

Industry

South Korea approves gas deals with Shell, Total

SEOUL : South Korea on Wednesday approved deals sought by its state gas company to import 5.64 million tonnes of natur

Published 17 Aug, 2011 04:24am

Financial

Euro weakens in Tokyo after France-Germany talks

TOKYO : The euro dropped against major currencies in early Tokyo trade on Wednesday after talks between the leaders of F

Published 17 Aug, 2011 04:16am

Financial

Indian shares seen extending losses to fourth day

MUMBAI: Indian shares are likely to fall on Wednesday, extending their losing streak to a fourth straight session, track

Published 17 Aug, 2011 04:09am

Energy

Oil prices higher in Asian trade

SINGAPORE : Oil prices were higher in Asian trade Wednesday but sentiment was subdued after the meeting of French and Ge

Published 17 Aug, 2011 04:06am

Financial

Euro down as EU debt crisis summit disappoints

HONG KONG: The euro suffered in early Asian trading Wednesday after summit talks between France and Germany failed to qu

Published 17 Aug, 2011 04:02am

Energy

Australia's Woodside says will stick with oil business

MELBOURNE : Woodside Petroleum , Australia's biggest oil and gas company, sees a strong continuing role for oil in the

Published 17 Aug, 2011 03:59am

Financial

Australia share market propped as banks, Rio, BHP edge up

MELBOURNE : Australian shares climbed 0.6 percent on Wednesday, propped up by financials and big miners against a backgr

Published 17 Aug, 2011 03:51am

Financial

Aussie & kiwi dollars sidelined; Swiss franc in focus

SYDNEY/WELLINGTON: The Australian and New Zealand dollars held up relatively well on Wednesday, but were pretty much sid

Published 17 Aug, 2011 03:42am