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Archive - 2011-08-23
Greece recognises Libyan rebels
Africa

Greece recognises Libyan rebels

ATHENS: Greece on Tuesday called on the embattled regime of Moamer Kadhafi to concede defeat as it recognised the rebel-
Published 23 Aug, 2011 03:36pm
Saab warns of new salary delays
Top News

Saab warns of new salary delays

STOCKHOLM: Troubled Swedish automaker Saab warned employees on Tuesday that August salaries may be delayed after promise
Published 23 Aug, 2011 03:28pm
COAS visits AFIRM
Pakistan

COAS visits AFIRM

RAWALPINDI : Chief of Army Staff (COAS), General Ashfaq Parvez Kayani visited Armed Forces Institute of Rehabilitation M
Published 23 Aug, 2011 03:13pm
Iraq recognises Libya rebels
Africa

Iraq recognises Libya rebels

BAGHDAD: Iraq on Tuesday recognised Libya's rebel-run governing council as the country's legitimate government, in a sta
Published 23 Aug, 2011 03:00pm
Judge drops Strauss-Kahn charges
Top News

Judge drops Strauss-Kahn charges

NEW YORK : A New York judge Tuesday dropped all sex crime charges against Dominique Strauss-Kahn, ending a three-month s
Published 23 Aug, 2011 02:50pm
ISE-10 witnesses bearish trend
Markets

ISE-10 witnesses bearish trend

ISLAMABAD : The Islamabad Stock Exchange (ISE-10) witnessed bearish trend here on Tuesday as the index fell to 29.86 poi
Published 23 Aug, 2011 01:33pm
Four Lyari gangsters arrested
Top News

Four Lyari gangsters arrested

KARACHI: Four alleged gangsters involved in Lyari gang war have been arrested by North Nazimabad Police here Tuesday dur
Published 23 Aug, 2011 01:20pm
Asia resilient to global slowdown: ADB
Top News

Asia resilient to global slowdown: ADB

SINGAPORE : Asia 's economic growth will likely be hurt by the slowdown in the United States and Europe , but the im
Published 23 Aug, 2011 05:54am
Australia rejects currency action
Top News

Australia rejects currency action

SYDNEY : Australian Treasurer Wayne Swan refused Tuesday to intervene to prevent the local dollar's surge and help ailin
Published 23 Aug, 2011 05:49am
Spot gold to correct to $1,860/oz
Top News

Spot gold to correct to $1,860/oz

SINGAPORE : Spot gold is due for a correction to $1,860 per ounce, as the rally becomes exhausted. A five-wave cycle
Published 23 Aug, 2011 05:17am
Biden to visit Japan tsunami zone
Top News

Biden to visit Japan tsunami zone

TOKYO : US Vice President Joe Biden was due on Tuesday to visit Japan's tsunami-hit coast, where American forces helped
Published 23 Aug, 2011 04:11am
Australian PM support at rock bottom
Top News

Australian PM support at rock bottom

SYDNEY : Support for Australian Prime Minister Julia Gillard has hit rock-bottom, with satisfaction at her performance p
Published 23 Aug, 2011 04:07am
Water Week starts with calls for better urban water

Water Week starts with calls for better urban water

World Water Week opened in Stockholm on Monday with calls for greater, more resilient water management in cities to ensure better food and water security in a rapidly urbanising world. "More than ever we need new technologies and policy solutions" to comp
Published 23 Aug, 2011 12:00am
Honduran journalist awarded Peter Mackler prize

Honduran journalist awarded Peter Mackler prize

Honduran radio journalist Karla Rivas has been awarded the 2011 Peter Mackler Award for courageous and ethical journalism, press freedom group Reporters Without Borders announced Monday. Rivas, 33, news editor for Honduras' Radio Progreso, is to receive h
Published 23 Aug, 2011 12:00am
Man United strike $66 million training-kit deal

Man United strike $66 million training-kit deal

Manchester United struck a training-kit sponsorship deal on Monday, the Premier League champions saying they believed it was the first such agreement in English football. United said they had agreed a four-year contract with express and logistics company
Published 23 Aug, 2011 12:00am
Wenger handed two-match ban after phone row

Wenger handed two-match ban after phone row

Arsenal manager Arsene Wenger has been handed a two-match touchline ban by UEFA after being found guilty of ignoring rules on communicating with his bench during last week's Champions League clash against Udinese. Wenger has paid the price for flouting UE
Published 23 Aug, 2011 12:00am
Malinga's hat-trick restricts Australia

Malinga's hat-trick restricts Australia

Lasith Malinga grabbed a record third hat-trick as Sri Lanka restricted Australia to 211 in the fifth and final one-day international on Monday. The paceman dismissed Mitchell Johnson, John Hastings and Xavier Doherty in his eighth over to become the firs
Published 23 Aug, 2011 12:00am
England seal 4-0 series rout of India

England seal 4-0 series rout of India

England sealed a 4-0 series rout of India with an innings and eight-run victory at The Oval here on Monday as Sachin Tendulkar fell just short of an historic 100th international hundred. India, who needed 291 runs to make the hosts bat again, frustrated E
Published 23 Aug, 2011 12:00am
Sharapova wins Cincinnati WTA title

Sharapova wins Cincinnati WTA title

Fourth-seeded Russian Maria Sharapova survived an erratic performance to win the Cincinnati WTA title, prevailing 4-6, 7-6 (7/3), 6-3 over Serbia's Jelena Jankovic. Sharapova, 24, earned her second title of the season after a triumph in Rome. She improved
Published 23 Aug, 2011 12:00am
Egypt to host pre-Olympic tournament

Egypt to host pre-Olympic tournament

Egypt will host a tournament this year to decide which nations represent Africa at the 2012 London Olympic Games football tournament. It involves Algeria, Egypt, Gabon, Ivory Coast, Morocco, Nigeria, Senegal and South Africa after they survived a three-ro
Published 23 Aug, 2011 12:00am
Indian rupee rebounds

Indian rupee rebounds

The Indian rupee reversed all its early losses on Monday as gains in domestic equities and the euro offset pressure from the dollar demand of oil refiners that had pushed the unit to near nine-month lows in opening trade. The partially convertible rupee e
Published 23 Aug, 2011 12:00am
Australian and New Zealand dollars resilient

Australian and New Zealand dollars resilient

The Australian and New Zealand dollars held their ground against the US currency on Monday and pared gains on the yen, though the mood remained fragile due to lingering worries about the US economy and eurozone debt. The Aussie dollar was last at $1.0400
Published 23 Aug, 2011 12:00am
Sterling steadies

Sterling steadies

Sterling was steady against the dollar on Monday and was seen staying near recent peaks as investors seeking refuge from turbulence in financial markets and the eurozone debt crisis eyed the UK's slightly better fiscal position. But analysts said the poun
Published 23 Aug, 2011 12:00am
Yuan falls

Yuan falls

The yuan closed down against the dollar on Monday, even though the People's Bank of China set a slightly firmer mid-point due to dollar demand for trade settlement and profit-taking after the yuan hit a series of record highs in the past two weeks. Spot y
Published 23 Aug, 2011 12:00am
Won, peso rise

Won, peso rise

The South Korean won and the Philippine peso rose slightly on Monday as speculators bought some of battered emerging Asian currencies on dips, but regional units later gave up some of their gains on persistent worries about a global economic slowdown and
Published 23 Aug, 2011 12:00am
Dollar struggles in London

Dollar struggles in London

The euro edged up on Monday, helped by a rise in European shares, while the dollar was on the back foot on speculation the Federal Reserve may highlight this week the need to take additional measures to support the ailing US economy. Traders said Switzerl
Published 23 Aug, 2011 12:00am
Early trade in New York: Fed speculation hurts dollar

Early trade in New York: Fed speculation hurts dollar

The dollar was slightly weaker against some commodity-linked currencies on Monday as investors speculated the Federal Reserve could take new measures to boost the US economy. The Fed will host its annual retreat in Wyoming this week, and recent market tur
Published 23 Aug, 2011 12:00am
Yen off highs in Asia

Yen off highs in Asia

The dollar gained against the yen on Monday, rising from a record low plumbed late last week, as investors covered dollar short positions wary that Tokyo could step into the market and with a US bank detected buying. Underscoring extreme nervousness in th
Published 23 Aug, 2011 12:00am
Dollar funding costs rise

Dollar funding costs rise

Dollar funding costs for eurozone banks rose on Monday, heading back towards their highest levels since late 2008, as US banks remained wary of lending to European counterparts in the face of a possible US recession and an intractable debt crisis. Key eur
Published 23 Aug, 2011 12:00am
FTSE springs back

FTSE springs back

British blue chip stocks rose to buck a three-session slide as dividend-yield hunters ploughed back into beaten-down defensive stocks, albeit in low volume, volatile trade that could have further to run, traders said. Vodafone, Royal Dutch Shell and Glaxo
Published 23 Aug, 2011 12:00am
Nikkei at five-month low

Nikkei at five-month low

The Nikkei stock average marked its lowest close since March 15 on Monday as worries about the US economy offset signs that the Japanese authorities stand ready to quell any further yen strength. The index fell as low as 8,619.21, breaking below the intra
Published 23 Aug, 2011 12:00am
Seoul shares post 13-month low

Seoul shares post 13-month low

South Korean stocks fell on Monday, continuing losses for a third consecutive session, as fears the global economy is slipping back into recession left investors hesitant to snap up some heavyweights despite their heavy recent losses. The Korea Composite
Published 23 Aug, 2011 12:00am
Indian shares reverse losses

Indian shares reverse losses

Indian shares rebounded to end 1.2 percent higher on Monday as investors grabbed shares offering value following last week's plunge over worries about the health of the global economy. Energy major Reliance Industries and top private-sector lender ICICI B
Published 23 Aug, 2011 12:00am
Taiwan stocks ease

Taiwan stocks ease

Taiwan stocks erased early gains and ended 0.41 percent lower on Monday, pressured by cement counters and construction shares. The main TAIEX index fell 30.37 points to 7,312.59, after opening flat. The cement sub-index was the biggest loser, down 5.2 per
Published 23 Aug, 2011 12:00am
European shares rise

European shares rise

European shares bounced on Monday after a steep sell-off last week, with Italy's ENI among the main gainers on hopes that a new political regime in Libya will help it restore oil production activities to former levels. ENI, the biggest foreign oil produce
Published 23 Aug, 2011 12:00am
Monday's midday trade: Wall Street rises, but investors stay cautious

Monday's midday trade: Wall Street rises, but investors stay cautious

Wall Street rose on Monday, but major averages gave up some of their gains as bank stocks came under renewed pressure. Stocks had come under heavy selling pressure in recent weeks on growing fears of recession and the possible spread of the eurozone's sov
Published 23 Aug, 2011 12:00am
Chinese shares slide, Hong Kong up

Chinese shares slide, Hong Kong up

China shares in Shanghai and Hong Kong fell on Monday as investors hammered companies reporting weak or forecast-meeting results, while a late jump in HSBC helped the Hang Seng index offset some of those losses and end higher. HSBC Holdings Plc, Europe's
Published 23 Aug, 2011 12:00am
Australian shares slip

Australian shares slip

Australian stocks ended a choppy session 0.5 percent down, at a two-week low, with concerns over European and US economic challenges continuing to undermine sentiment. Stocks staged a rebound at midday when S&P 500 futures traded in Asia did a U-turn to g
Published 23 Aug, 2011 12:00am
Major Southeast Asian stocks smidgen lower

Major Southeast Asian stocks smidgen lower

Major Southeast Asian stock markets posted small losses on Monday, minimised by late bargain hunting in retail stocks that offset woes over a festering debt crisis in Europe and a grim economic outlook for the United States. Most regional sharemarkets rec
Published 23 Aug, 2011 12:00am
Russian grain prices up, milling wheat supply falls

Russian grain prices up, milling wheat supply falls

Russian grain prices kept rising last week, with milling wheat in the lead as its supply is currently estimated lower than initially expected, analysts said on Monday. The offer price of third-grade milling wheat EXW rose 325 roubles ($11.46) to 5,540 rou
Published 23 Aug, 2011 12:00am
Grain market remains closed

Grain market remains closed

No business activity was seen on the wholesale grain and seed market on Monday on account of death anniversary of Hazrat Ali (K.V.) holiday, grain and seed merchants group's press release said.
Published 23 Aug, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 229,278 tonnes of cargo including 180,013 tonnes of import cargo, 49,265 tonnes of export cargo and 5,381 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 180,013 tonnes compr
Published 23 Aug, 2011 12:00am
US wheat at two-month top

US wheat at two-month top

US wheat rose 1 percent on Monday to its highest in more than 2 months as delays in spring wheat harvest and dry weather ahead of winter crop planting buoyed the market. Corn rose 0.8 percent, while soyabeans climbed to its highest in more than two weeks
Published 23 Aug, 2011 12:00am
China, global steel output near record in July

China, global steel output near record in July

Chinese and global steel production fell slightly from the previous month but remained near record levels in July, in what is usually a seasonally slower quarter and despite concerns that oversupply and the economic slowdown may weigh on prices.
Published 23 Aug, 2011 12:00am
China's July crude oil imports from Russia fall

China's July crude oil imports from Russia fall

China's crude imports from Russia in July plunged 45 percent from a year earlier to 615,193 tonnes, or 144,870 barrels per day (bpd), the lowest level in several years, customs data showed on Monday. That pushed Russia into ninth place among crude oil sup
Published 23 Aug, 2011 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Hard red winter wheat basis bids held steady on Monday amid ongoing quiet market conditions. Protein premiums for railcar wheat to and through Kansas City rose 6-16 cents a bushel for all protein levels, with 13.00 percent through 13.40-pro wheat garnerin
Published 23 Aug, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Monday, taking strength from gains in soybeans and crude oil. Short-covering seen likely Monday and Tuesday ahead of Wednesday's Statistics Canada report, the government agency's first forecast of crop production based
Published 23 Aug, 2011 12:00am
Brazil growth estimate down

Brazil growth estimate down

Forecasts for Brazil's economic growth are being driven lower by its tighter monetary policy and a slowing global economy, a central bank survey showed on Monday, signalling a steeper-than-expected slowdown is looming. The central bank survey found that f
Published 23 Aug, 2011 12:00am
Serbia optimistic on talks for new deal with IMF

Serbia optimistic on talks for new deal with IMF

Serbia is hoping to convince the International Monetary Fund its fiscal policies are prudent enough to secure another deal with the lender, a government official said on Monday. He was speaking shortly before the start of talks between the Belgrade author
Published 23 Aug, 2011 12:00am
Maybank fourth quarter profit up 27 percent

Maybank fourth quarter profit up 27 percent

Malaysia's largest lender Malayan Banking (Maybank) posted a 27 percent rise in fourth-quarter profit, helped by robust regional loans growth, but warned of pressure on margins ahead due to a weakening global economy and investor sentiment. "We foresee w
Published 23 Aug, 2011 12:00am
Maybank fourth quarter profit up 27 percent

Maybank fourth quarter profit up 27 percent

Malaysia's largest lender Malayan Banking (Maybank) posted a 27 percent rise in fourth-quarter profit, helped by robust regional loans growth, but warned of pressure on margins ahead due to a weakening global economy and investor sentiment. "We foresee w
Published 23 Aug, 2011 12:00am
Eni leads Libya oil race; Russia, China may lose out

Eni leads Libya oil race; Russia, China may lose out

Italian oil company Eni led the charge back into Libya on Monday as rebels hailing the end of Muammar Qadhafi's rule warned Russian and Chinese firms that they may lose out on lucrative oil contracts for failing to support the rebellion. Qadhafi's fall wi
Published 23 Aug, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (August 22, 2011).
Published 23 Aug, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (August 22, 2011).
Published 23 Aug, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (August 22, 2011).

Published 23 Aug, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 23 Aug, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 23 Aug, 2011 12:00am
NETSOL TECHNOLOGIES LIMITED

NETSOL TECHNOLOGIES LIMITED

NetSol Technologies (KSE: NETSOL) is a leading software house in Pakistan. NetSol is a multi-dimensional technology company, providing a variety of information technology services and custom software offerings including technology outsourcing, systems int
Published 23 Aug, 2011 12:00am
Hong Kong opens hearing on landmark labour case

Hong Kong opens hearing on landmark labour case

Hong Kong Monday began hearing a Philippine maid's legal bid for permanent residency, in a landmark case that has sparked debate over the army of domestic helpers sustaining the city's economy. Rights activists have said a successful legal challenge will
Published 23 Aug, 2011 12:00am
Thai economy unexpectedly shrinks in second quarter

Thai economy unexpectedly shrinks in second quarter

Thailand's economy unexpectedly shrank in the second quarter from the previous three months, hurt by weakness in auto and electronics output after Japan's earthquake and tsunami disaster, official data showed on Monday. The unexpected weakness raises ques
Published 23 Aug, 2011 12:00am
Bosnia must renegotiate loan terms: IMF

Bosnia must renegotiate loan terms: IMF

Bosnia must renegotiate the terms of its 1.1 billion euro ($1.55 billion) International Monetary Fund standby programme after 10 months of reform delays, the IMF's top official in the country said on Monday. Bosnia has not received funds from the loan sin
Published 23 Aug, 2011 12:00am
Truckers protest outside Australia's parliament

Truckers protest outside Australia's parliament

Hundreds of truckers circled Australia's parliament on Monday in a campaign aimed at forcing the government to withdraw a proposed carbon tax law, and call new elections, the second anti-government protest in the nation's capital this month. The truckers
Published 23 Aug, 2011 12:00am
Finland-Greece debt: deal needs eurozone approval: Germany

Finland-Greece debt: deal needs eurozone approval: Germany

Germany said Monday that a deal Finland struck with debt-wracked Greece for Athens to provide collateral in exchange for loan guarantees required the consent of all 17 eurozone members. The agreement "must be approved by the other eurozone member countrie
Published 23 Aug, 2011 12:00am
Ford, Toyota to join hands on hybrid trucks

Ford, Toyota to join hands on hybrid trucks

Ford and Toyota announced Monday plans to jointly develop a new hybrid system for light trucks and sport utility vehicles. The two companies, both leaders in the hybrid gasoline-electric car sector, said they aimed at bringing hybrid technology to pickups
Published 23 Aug, 2011 12:00am
OECD growth slows again

OECD growth slows again

Growth in leading world economies slowed for the fourth consecutive quarter, gaining just 0.2 percent in the three months to June, an OECD indicator showed on Monday. In the April-June period, output of the 33 countries in the Organisation for Economic Co
Published 23 Aug, 2011 12:00am
Japan signals readiness to intervene in currencies

Japan signals readiness to intervene in currencies

Japan will take decisive action against any speculative moves in the currency market, Finance Minister Yoshihiko Noda said, signalling Tokyo's readiness to intervene to stem further yen rises after its spike to a record high last week. Noda said he saw re
Published 23 Aug, 2011 12:00am
NETSOL TECHNOLOGIES LIMITED

NETSOL TECHNOLOGIES LIMITED

NetSol Technologies (KSE: NETSOL) is a leading software house in Pakistan. NetSol is a multi-dimensional technology company, providing a variety of information technology services and custom software offerings including technology outsourcing, systems int
Published 23 Aug, 2011 12:00am
Railways expecting revenue shortfall of Rs six billion

Railways expecting revenue shortfall of Rs six billion

Pakistan Railway is expecting revenue shortfall of Rs 6 billion as it is expected to generate Rs 12 billion in the current financial year against Rs 18 billion during the last financial year. This was revealed by the Railway officials in the National Asse
Published 23 Aug, 2011 12:00am
US Midwest corn and soya bids mostly steady

US Midwest corn and soya bids mostly steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Monday, amid weaker demand for old-crop supplies as the beginning of fall harvest nears, grain merchants said. Harvest is expected to begin in about a month, and some produ
Published 23 Aug, 2011 12:00am
Rescue 1122 to initiate legal action against prank calls

Rescue 1122 to initiate legal action against prank calls

Rescue 1122 has decided to initiate legal action against the prank callers, as the toll of obnoxious calls in four years has reached the two million mark. The number continues to increase, therefore, the service has been compelled to take necessary legal
Published 23 Aug, 2011 12:00am
Sikhs being denied jobs in IHK: APSCC

Sikhs being denied jobs in IHK: APSCC

All Parties Sikh Co-ordination Committee (APSCC), in occupied Kashmir, said the authorities were denying jobs to the eligible Sikh candidates in police department. The APSCC held a meeting in Srinagar to decide the fate of Sikh community living in occupie
Published 23 Aug, 2011 12:00am
UN urged to set up tribunal for war crimes in IHK

UN urged to set up tribunal for war crimes in IHK

Kashmir Council European Union (EU) Chairman Ali Raza Syed has urged the United Nation to set up a tribunal for hearing war crimes in Indian Held Kashmir (IHK). Commenting on a report of Indian Official Human Rights Commission about 2,156 unidentified bod
Published 23 Aug, 2011 12:00am
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