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Archive - 2011-08-26
Brazil primary budget surplus up
Top News

Brazil primary budget surplus up

BRASILIA : Brazil 's primary surplus rose in July in line with expectations as public sector debt shrank in proport
Published 26 Aug, 2011 03:01pm
Food autarky of Rs3.40bn in Punjab
Top News

Food autarky of Rs3.40bn in Punjab

LAHORE : In order to attain autarky in food, fruit and vegetable the Punjab government has earmarked a huge amount of
Published 26 Aug, 2011 12:45pm
FBR extends dates for filing of returns
Top News

FBR extends dates for filing of returns

ISLAMABAD : The Federal Board of Revenue (FBR) Friday extended the due dates for filing of Income Tax Returns for the ta
Published 26 Aug, 2011 10:37am
Spain economy slows in second quarter
Top News

Spain economy slows in second quarter

MADRID: Spain's economy slowed in the second quarter of 2011 as the country battled fears of a sovereign debt crisis, of
Published 26 Aug, 2011 08:44am
Six dead in Thai south attacks
Asia

Six dead in Thai south attacks

NARATHIWAT: A roadside blast killed five security officers travelling to the scene of a fatal shooting in the Thai south
Published 26 Aug, 2011 07:29am
Tokyo stocks close up 0.29pc
Financial

Tokyo stocks close up 0.29pc

TOKYO : Tokyo shares closed lacklustre trading up 0.29 percent on Friday as investors awaited a much-anticipated speec
Published 26 Aug, 2011 07:24am
Dutch lender ABN Amro to cut 2,350 jobs
Top News

Dutch lender ABN Amro to cut 2,350 jobs

THE HAGUE : Dutch bank ABN Amro said Friday it will cut 2,350 jobs over the next three to four years, out of 26,500, as
Published 26 Aug, 2011 07:20am
Oil mixed in Asian trade
Top News

Oil mixed in Asian trade

SINGAPORE : Oil was mixed in muted Asian trade Friday as investors awaited a key speech by US Federal Reserve chief Ben
Published 26 Aug, 2011 05:34am
UN releases $1.5bn for Libya
Top News

UN releases $1.5bn for Libya

UNITED NATIONS: The United States and South Africa reached a deal Thursday to let the UN Security Council release
Published 26 Aug, 2011 05:03am
Oil mixed in Asian trade
Energy

Oil mixed in Asian trade

SINGAPORE : Oil was mixed in Asian trade Friday amid muted trading interest as investors awaited for a key speech by US
Published 26 Aug, 2011 04:03am
Realigning Pakistans trade ties
BR Research

Realigning Pakistans trade ties

One of the fundamental hurdles to expanding trade beyond conventional trade partners is lack of governmental initiative and diplomatic coope
Published 26 Aug, 2011 12:00am
Shanghai copper up

Shanghai copper up

The most-active November copper contract on the Shanghai Futures Exchange rose 0.5 percent to close at 66,790 yuan per tonne on Thursday, after falling 0.3 percent in the last session. Aluminium rose 0.3 percent on the ShFE.
Published 26 Aug, 2011 12:00am
US copper soars

US copper soars

Copper ended up in light volume on Wednesday, after a surprising jump in US durable goods orders brightened the demand picture which had also been reinforced by expectations that more Federal Reserve economic stimulus may come soon. In New York, the activ
Published 26 Aug, 2011 12:00am
New York cotton extends losses

New York cotton extends losses

Cotton futures settled lower Thursday on investor sales as the market fell for the third day in a row and analysts said the weak tone could lead to further losses. The key December cotton contract on ICE Futures US fell 2.00 cents to close at $1.0299 per
Published 26 Aug, 2011 12:00am
Karzai endorses ruling on Afghan poll row

Karzai endorses ruling on Afghan poll row

President Hamid Karzai on Thursday backed a decision by Afghan election authorities to kick nine lawmakers out of parliament in a bid to end a vote-rigging row which has lasted nearly a year. The Independent Election Commission (IEC) made the ruling this
Published 26 Aug, 2011 12:00am
Nato beefs up fight against 'rogue' Afghan threat

Nato beefs up fight against 'rogue' Afghan threat

Nato and Afghan officials are stepping up efforts to battle the insider threat in their war against insurgents, which has seen an increase in attacks by local security forces against their foreign partners, a US navy expert said on Thursday.
Published 26 Aug, 2011 12:00am
Xinhua blasts US defence report

Xinhua blasts US defence report

China's state news agency on Thursday blasted a Pentagon report on the Chinese military as a smear that exaggerates the threat Beijing poses to the region. In an English-language commentary, the Xinhua News Agency said Washington was engaged in scaremonge
Published 26 Aug, 2011 12:00am
Net migration to Britain up by a fifth

Net migration to Britain up by a fifth

Net migration to Britain rose by 21 percent last year, with 239,000 more people arriving in the country than leaving, according to official statistics published on Thursday. In 2009, the figure for net migration was 198,000. The increase last year was lar
Published 26 Aug, 2011 12:00am
Irene pounds Bahamas, North Carolina on hurricane watch

Irene pounds Bahamas, North Carolina on hurricane watch

Hurricane Irene washed away homes in the Bahamas on Thursday as its battering winds and rain headed toward the US eastern seaboard including densely populated New York and New England. US emergency officials have urged residents from the Carolinas north t
Published 26 Aug, 2011 12:00am
Israeli raids kill 9 Gazans

Israeli raids kill 9 Gazans

A series of Israeli air strikes on Gaza over a 24-hour period killed nine Palestinians and injured 30, a spokesman for the enclave's emergency services told AFP on Thursday. Adham Abu Selmiya said nine people had been killed in a series of raids across th
Published 26 Aug, 2011 12:00am
Cheney said he urged Bush to bomb Syria

Cheney said he urged Bush to bomb Syria

Dick Cheney said he urged then-president George W. Bush in June 2007 to bomb a suspected nuclear reactor site in Syria, the former vice president wrote in his memoirs, the New York Times reported Thursday. "I again made the case for US military action aga
Published 26 Aug, 2011 12:00am
Ma sees Taiwan-China political talks

Ma sees Taiwan-China political talks

Taiwan's president told the outgoing head of the United States Pacific Command that "activities" by China's People's Liberation Army could convince the island to enter into political talks with Beijing, according to an American diplomatic cable released b
Published 26 Aug, 2011 12:00am
Deal seems close to end anti-graft fast

Deal seems close to end anti-graft fast

India's leading anti-corruption campaigner edged closer on Thursday to a deal to end his 10-day public fast after Prime Minister Manmohan's Singh government agreed to discuss his anti-graft proposals. The campaign by 74-year-old Anna Hazare has sparked th
Published 26 Aug, 2011 12:00am
Ban urges progress on test-ban treaty

Ban urges progress on test-ban treaty

UN chief Ban Ki-moon on Thursday called for new steps to achieve a nuclear-free world, ahead of next week's international day against nuclear tests. "We urgently need new progress in achieving a world free of both nuclear tests and nuclear weapons," Ban s
Published 26 Aug, 2011 12:00am
African donors pledge $351 million for drought crisis

African donors pledge $351 million for drought crisis

African countries and donors pledged more than $350 million Thursday at a fund-raiser in the Ethiopian capital to help millions facing starvation in the Horn of Africa's worst drought in decades. The African Development Bank offered $300 million to fund l
Published 26 Aug, 2011 12:00am
Sri Lanka scraps emergency laws

Sri Lanka scraps emergency laws

Sri Lanka's president announced Thursday that he was scrapping draconian emergency laws imposed nearly 30 years ago to deal with the armed Tamil separatist movement. "I am satisfied that there is no need to have the state of emergency any more," President
Published 26 Aug, 2011 12:00am
Syrian protesters chant 'Bye Qadhafi, Bashar next'

Syrian protesters chant 'Bye Qadhafi, Bashar next'

Syrian protesters chanted "Bye, bye Qadhafi, Bashar your turn is coming" overnight, but President Bashar al-Assad showed few signs of cracking after months of demonstrations and his forces raided an eastern tribal region again on Thursday. The new chant,
Published 26 Aug, 2011 12:00am
Li rallies to reach quarter-finals

Li rallies to reach quarter-finals

French Open champion Li Na of China rallied from a 3-1 deficit in the opening set to beat Russian Maria Kirilenko 6-4, 7-6 (7/4) in the second round of the New Haven Open. Li trailed 3-1 in the first set and 4-1 in the second before clinching a berth in t
Published 26 Aug, 2011 12:00am
Spanish league back on, strike lifted

Spanish league back on, strike lifted

Stars of Spanish football such as Lionel Messi and Cristiano Ronaldo are set to be back in league action this weekend after players called off a strike that delayed the start of Spain's Liga for the first time in 27 years. Negotiations dragged on into the
Published 26 Aug, 2011 12:00am
Faisal Iqbal accuses PCB of ignoring him

Faisal Iqbal accuses PCB of ignoring him

Batsman Faisal Iqbal has accused the Pakistan Cricket Board (PCB) of ignoring him despite performance. "I have been victimised by the PCB. Over the years, I have suffered, but now decided to speak out. Players with two to three year play are coming into t
Published 26 Aug, 2011 12:00am
Aamir escapes further punishment for flouting ban

Aamir escapes further punishment for flouting ban

Pakistan pace bowler Mohammad Aamir has escaped further punishment for flouting his five-year ban by playing for an English amateur side in a league match in June. Aamir has been cautioned by the International Cricket Council and warned over his future co
Published 26 Aug, 2011 12:00am
Jahangir Khan lashes out at Pakistan slump

Jahangir Khan lashes out at Pakistan slump

Squash legend Jahangir Khan lashed out at the sport's authorities in Pakistan on Thursday calling on them to quit after the team slid to their worst-ever performance in the World Squash Championships. The six-time champions lost to Malaysia and Denmark in
Published 26 Aug, 2011 12:00am
Kim, Emane claim second world titles

Kim, Emane claim second world titles

South Korea and France shared the honours on the third day of the Judo World Championships on Thursday as Kim Jae-Bum and Gevrise Emane each won their second world title. World number one Kim retained his under-81kg crown as he beat rank outsider Srdjan M
Published 26 Aug, 2011 12:00am
Adnan to lead Pakistan football team against India

Adnan to lead Pakistan football team against India

Adnan Farooq Ahmed has been named to lead Pakistan football team in the one-off test matches against arch-rival being played at Derby on September 3, Pakistan Football Federation (PFFA) announced on Thursday. The national football team will be flying to U
Published 26 Aug, 2011 12:00am
Australian and New Zealand dollars ease

Australian and New Zealand dollars ease

The Australian and New Zealand dollars eased in sparse trading on Thursday as investors awaited appearances by two top central bankers that could clarify the outlook for monetary policy in Australia and the United States. The Aussie dollar drifted off to
Published 26 Aug, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 73.35/73.88 (previous 73.45/73.85). Call Money Rates: 12.00-20.00 percent (previous 12.00-18.00 percent).
Published 26 Aug, 2011 12:00am
Sterling slips

Sterling slips

Sterling slipped to two-week lows against the euro on Thursday as a sovereign account bought the common currency for month-end requirements, while the pound eased against the dollar as stock markets in Europe and the US traded in negative territory.
Published 26 Aug, 2011 12:00am
Indian rupee off lows

Indian rupee off lows

The Indian rupee on Thursday clawed back from its deepest low in more than 11 months, buoyed by corporate dollar sales, but was reined in by persistent demand for the US unit from domestic oil firms and gold importers. The partially convertible rupee ende
Published 26 Aug, 2011 12:00am
Won, rupiah down

Won, rupiah down

The South Korean won and the Indonesian rupiah led declines in emerging Asian currencies on Thursday as investors covered dollar-short positions ahead of a speech by Federal Reserve Chairman Ben Bernanke that could offer clues on whether it will offer fre
Published 26 Aug, 2011 12:00am
Yuan slips

Yuan slips

The yuan slipped versus the dollar on Thursday as the central bank fixed a slightly weaker mid-point, to the disappointment of the market that had expected another record high. Spot yuan closed at 6.3900 per dollar, compared with 6.3885 at Wednesday's clo
Published 26 Aug, 2011 12:00am
Swiss franc steadies

Swiss franc steadies

The Swiss franc was broadly stable against the euro and the dollar on Thursday, trading in a tight band as investors awaited a key speech form US Federal Reserve chairman Ben Bernanke on Friday for any sign of a third round of quantitative easing.
Published 26 Aug, 2011 12:00am
Dollar up versus majors

Dollar up versus majors

The dollar rose against major currencies on Wednesday, erasing early losses, on fears the Federal Reserve may not signal new stimulus for the economy this week. The yen slipped against the dollar and euro after Japan unveiled new steps to curb its currenc
Published 26 Aug, 2011 12:00am
Early trade in New York: dollar gains on stock slide

Early trade in New York: dollar gains on stock slide

The dollar rose on Thursday, as a sharp decline in stocks lured investors into the safe-haven US currency and on speculation the head of the Federal Reserve will not signal new initiatives to stimulate the economy. The dollar rose 0.6 percent to 77.39 yen
Published 26 Aug, 2011 12:00am
Euro rises versus dollar in London

Euro rises versus dollar in London

The euro edged up against the dollar on Thursday, helped by reported buying by model funds, but was vulnerable to a selloff if Federal Reserve President Ben Bernanke fails to signal more economic stimulus in a speech on Friday. The single currency was las
Published 26 Aug, 2011 12:00am
Dollar stays up in Asia

Dollar stays up in Asia

The dollar stayed firm against other major currencies on Thursday and could eke out more gains after a short-covering rally the day before, as investors fret that the Federal Reserve may fail to signal new stimulus for the economy this week.
Published 26 Aug, 2011 12:00am
Dollar borrowing costs rise

Dollar borrowing costs rise

Benchmark interbank dollar borrowing costs edged higher on Thursday with US financial institutions still reluctant to lend dollars to European banks on concern over their exposure to the debt of struggling eurozone states. Although other gauges of money m
Published 26 Aug, 2011 12:00am
FTSE ends in the red as Fed hopes wane

FTSE ends in the red as Fed hopes wane

Britain's FTSE 100 fell on Thursday, snapping three days of gains as investor hopes dwindled that Federal Reserve Chairman Ben Bernanke would signal more stimulus measures and a rumour about a German short-selling ban triggered profit taking. The UK bench
Published 26 Aug, 2011 12:00am
European shares lower

European shares lower

Europe's top shares ended lower on Thursday after another volatile trading session, as talk of an imminent ban on short-selling in Germany, later denied, swept through equity markets. Martin Dobson, head of trading at Westhouse Securities, said traders we
Published 26 Aug, 2011 12:00am
Taiwan stocks lower

Taiwan stocks lower

Taiwan stocks lost 1.23 percent on Thursday, with PC maker Acer Inc down by the maximum allowed for the whole session after it reported a worse-than-expected quarterly loss and said it would be impossible to break even for the full year. The main TAIEX in
Published 26 Aug, 2011 12:00am
Hong Kong and Chinese shares jump

Hong Kong and Chinese shares jump

Shares in Hong Kong and Shanghai rose on Thursday after several Chinese firms reported forecast-beating earnings, but the lowest turnover in over three weeks suggested investors remained worried about whether this week's rebound can be sustained.
Published 26 Aug, 2011 12:00am
Indian shares stay lower

Indian shares stay lower

Indian shares fell for a second straight session on Thursday as global growth slowdown fears punctured investor confidence, while weariness ahead of monthly derivative contracts expiry on a local stock exchange also dragged. The market focus is firmly on
Published 26 Aug, 2011 12:00am
India's NSE to launch derivatives on S&P and Dow

India's NSE to launch derivatives on S&P and Dow

India's National Stock Exchange (NSE) will launch derivative contracts on the Standard & Poor's 500 and the Dow Jones Industrial Average on Monday, it said in a statement, allowing Indian investors access to global indices. "Derivative contracts on these
Published 26 Aug, 2011 12:00am
Treasuries sink

Treasuries sink

US Treasuries prices sank on Wednesday as Wall Street stocks rallied for a second straight day and investors took profits on recent gains ahead of a widely anticipated speech from Federal Reserve Chairman Ben Bernanke. Technical indicators showed the bond
Published 26 Aug, 2011 12:00am
Treasuries sink

Treasuries sink

US Treasuries prices sank on Wednesday as Wall Street stocks rallied for a second straight day and investors took profits on recent gains ahead of a widely anticipated speech from Federal Reserve Chairman Ben Bernanke. Technical indicators showed the bond
Published 26 Aug, 2011 12:00am
Seoul shares gain

Seoul shares gain

South Korean stocks edged higher on Thursday following Wall Street's rises as investors sought shares beaten down in the recent rout. The Korea Composite Stock Price Index finished up 0.56 percent to 1,764.58 points, trimming early gains. KOSPI 200 Septem
Published 26 Aug, 2011 12:00am
Wall Street gains

Wall Street gains

US stocks rallied for a second day on Wednesday as investors bought beaten-down financial shares and unloaded gold, but tech stocks could fall on Thursday after late news about Apple's Steve Jobs stepping down as CEO. In a stunning development after the c
Published 26 Aug, 2011 12:00am
Thursday's midday trade: stocks drop

Thursday's midday trade: stocks drop

US stocks fell on Thursday after a sharp drop in European equities ignited by rumours of a short-selling ban in Germany swept away early euphoria from Warren Buffett's investment in Bank of America.
Published 26 Aug, 2011 12:00am
Nikkei average rises

Nikkei average rises

The Nikkei average rose 1.5 percent on Thursday, helped by strong US durable goods orders that sent auto stocks surging and by a retreat in the yen from last week's record high but worries over the world economy mean the benchmark may easily resume its do
Published 26 Aug, 2011 12:00am
Southeast Asian stocks mostly lower

Southeast Asian stocks mostly lower

Southeast Asian stocks were mostly lower on Thursday, underperforming other Asian markets as foreign investors seeking value showed a preference for markets such as China and Hong Kong. Regional markets got an initial lift as global equities rallied but t
Published 26 Aug, 2011 12:00am
China bans songs in culture crackdown

China bans songs in culture crackdown

China has banned 100 songs from being featured on websites, barring artists ranging from Lady Gaga to the Backstreet Boys apparently for being out of tune with the country's cultural authorities. The ministry of culture said it aimed to regulate the "orde
Published 26 Aug, 2011 12:00am
Russia 'grounds Soyuz rockets' after space crash

Russia 'grounds Soyuz rockets' after space crash

Russia on Thursday grounded its Soyuz rockets after a space ship carrying tonnes of cargo for the International Space Station (ISS) crashed into Siberia shortly after blast-off, officials said. The failed launch of the unmanned Progress capsule on a Soyuz
Published 26 Aug, 2011 12:00am
Austrian arrested over 40-year rape of daughters

Austrian arrested over 40-year rape of daughters

Austrian police announced Thursday they had arrested an 80-year-old man suspected of sexually abusing his two daughters over more than 40 years, keeping them virtually locked up in his house. The man was arrested at the prosecutor's request on suspicion o
Published 26 Aug, 2011 12:00am
UK government calls in social network firms over riots

UK government calls in social network firms over riots

British ministers and police will meet representatives of social networking sites and services on Thursday to discuss how to stop people plotting violence online during riots. Home Secretary Theresa May will chair the talks attended by executives from Res
Published 26 Aug, 2011 12:00am
Iraq summons Turkish envoy for end to air strikes

Iraq summons Turkish envoy for end to air strikes

Iraq summoned Turkey's ambassador to demand an immediate end to Ankara's air strikes against Kurdish rebel bases in northern Iraq, a foreign ministry statement viewed on Thursday said. The formal protest was made on Wednesday by foreign ministry Under-sec
Published 26 Aug, 2011 12:00am
Saudi Arabia find shows horses used 9,000 years ago

Saudi Arabia find shows horses used 9,000 years ago

Saudi Arabia has found traces of a civilisation that was domesticating horses about 9,000 years ago, 4,000 years earlier than previously thought, the kingdom said. "This discovery shows that horses were domesticated in the Arabian Peninsula for the first
Published 26 Aug, 2011 12:00am
US compared South Africa's ANC to apartheid regime: WikiLeaks

US compared South Africa's ANC to apartheid regime: WikiLeaks

The party that led South Africa out of apartheid had by 2010 slipped into anti-democratic practices reminiscent of the regime it fought to overthrow, says a US diplomatic cable released by WikiLeaks. In the assessment of the Pretoria embassy cable, dated
Published 26 Aug, 2011 12:00am
President asks PPP Ethics Committee to prepare party members record

President asks PPP Ethics Committee to prepare party members record

President Asif Ali Zardari on Thursday directed the Ethics Committee of Pakistan Peoples Party (PPP) to prepare a dossier on party members and submit it to the leadership at the time of taking important decisions like award of tickets and allocation of pa
Published 26 Aug, 2011 12:00am
Economy can grow fast under proper policy

Economy can grow fast under proper policy

Renowned economist and scholar Shahid Javed Burki said that Pakistan's economy can catch up fairly fast, as compared with India, by adopting proper policy and fully mobilising the available rich natural and human resources. He was addressing the launching
Published 26 Aug, 2011 12:00am
$20 million ERKF project approved for SMEs' rehabilitation

$20 million ERKF project approved for SMEs' rehabilitation

The Khyber Pakhtunkhwa, Federally Administered Tribal Areas (Fata) and Balochistan Multi-Donor Trust Fund (MDTF) announced on Thursday the approval of a US $20 million grant that will create sustainable employment opportunities through rehabilitation of s
Published 26 Aug, 2011 12:00am
Farzana Raja meets Chinese Minister

Farzana Raja meets Chinese Minister

Federal Minister and Chairperson Benazir Income Support Programme (BISP), Farzana Raja during her visit to China, held a meeting with Chinese Minister of Civil Affairs Luo Pingfei in Beijing. Pakistan's Ambassador to China Masood Khan was also present in
Published 26 Aug, 2011 12:00am
US senators call on Defence Minister

US senators call on Defence Minister

A US congressional delegation comprising four US Senators, headed by Robert Patrick Casey, a senior Senator from Pennsylvania, called on the Defence Minister, Chaudhry Ahmad Mukhtar here at Ministry of Defence on Thursday. The Defence Minister highlighted
Published 26 Aug, 2011 12:00am
AGP's appointment termed 'as per rules'

AGP's appointment termed 'as per rules'

Directorate General Audit on Thursday termed the allegation levelled against newly appointed Auditor General of Pakistan, Akhter Buland Rana, baseless and politically motivated to malign his character.
Published 26 Aug, 2011 12:00am
Mexico's jobless rate dips but above pre-crisis

Mexico's jobless rate dips but above pre-crisis

Mexico's jobless rate dipped in July but still showed signs of slack in the labour market giving room for the central bank to keep interest rates on hold. The seasonally adjusted unemployment rate shrank to 5.27 percent from June's revised 5.77 percent, t
Published 26 Aug, 2011 12:00am
Brazil's unemployment rate falls

Brazil's unemployment rate falls

Brazil's jobless rate fell in July to the lowest level since December, underscoring the labour market's resilience despite an economic slowdown. The unemployment rate fell to 6.0 percent in July, the government's statistics agency IBGE said on Thursday, d
Published 26 Aug, 2011 12:00am
EU Parliament set to get tough on debt crisis

EU Parliament set to get tough on debt crisis

The European Parliament will press top officials face to face next week for firmer action to tackle the region's debt crisis, with common bonds and a stronger euro zone rescue fund likely to anchor the debate. European Central Bank President Jean-Claude T
Published 26 Aug, 2011 12:00am
Credit Agricole upbeat on funding, second quarter beats forecast

Credit Agricole upbeat on funding, second quarter beats forecast

French bank Credit Agricole defended its financial firepower in the face of what it called market irrationality about funding fears, lifting its battered stock by over 6 percent. Bank stocks across Europe were buoyed by the comments from France's No 3 ban
Published 26 Aug, 2011 12:00am
Credit Agricole upbeat on funding, second quarter beats forecast

Credit Agricole upbeat on funding, second quarter beats forecast

French bank Credit Agricole defended its financial firepower in the face of what it called market irrationality about funding fears, lifting its battered stock by over 6 percent. Bank stocks across Europe were buoyed by the comments from France's No 3 ban
Published 26 Aug, 2011 12:00am
China says stabilising prices still priority

China says stabilising prices still priority

Stable prices remain the top priority for the Chinese government, but any policy moves must avoid hurting economic growth, China's Finance Minister Xie Xuren said on Thursday. The government will try to ensure appropriately fast economic growth, while man
Published 26 Aug, 2011 12:00am
New Zealand retail sales rise, but rates on hold

New Zealand retail sales rise, but rates on hold

New Zealand retail sales volumes sprinted past expectations in the second quarter to offer yet more evidence of an improving economy, yet a rise in interest rates is still considered unlikely amid an uncertain global outlook. Sales volumes, which strip ou
Published 26 Aug, 2011 12:00am
Philippines sees modest growth in second quarter

Philippines sees modest growth in second quarter

The Philippine economy likely reported modest growth in the second quarter from a year ago, supported by strong farm output, but the central bank said on Thursday that the scope for interest rate increases has narrowed. Socio-economic planning Secretary C
Published 26 Aug, 2011 12:00am
Warren Buffett to invest $5 billion in Bank of America

Warren Buffett to invest $5 billion in Bank of America

Warren Buffett will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Bank of America shares rose 12.3 percent to $7.85 in early trad
Published 26 Aug, 2011 12:00am
ECB, BoE extend currency swap for a year

ECB, BoE extend currency swap for a year

The European Central Bank said Thursday it and the Bank of England had extended a currency swap arrangement for a year in what economists called a preventive measure given tension on interbank lending markets. An agreement to exchange up to 10 billion pou
Published 26 Aug, 2011 12:00am
LG Chem signs $4 billion Kazakh petrochem deal

LG Chem signs $4 billion Kazakh petrochem deal

LG Chem, South Korea's largest chemical company, signed a deal worth at least $4 billion on Thursday to develop a large petrochemical complex in Kazakhstan it says will rival Middle Eastern suppliers. LG Chem said it would construct the complex near the w
Published 26 Aug, 2011 12:00am
China's Hu 'confident' in the euro: Sarkozy

China's Hu 'confident' in the euro: Sarkozy

China's president has expressed confidence in the euro, visiting French President Nicolas Sarkozy said on Thursday, as concerns about the future of the 17-nation eurozone intensify. "President Hu is not worried by the situation in the eurozone. He told us
Published 26 Aug, 2011 12:00am
UBS cuts China growth outlook amid global slowdown

UBS cuts China growth outlook amid global slowdown

UBS cut its 2011 and 2012 growth forecasts for China on Thursday to reflect weaker growth prospects in developed economies, saying the central bank may relax policy if the world's second-largest economy falters. UBS now expects 2011 gross domestic product
Published 26 Aug, 2011 12:00am
Striking Verizon workers boost US jobless claims

Striking Verizon workers boost US jobless claims

The number of Americans claiming new jobless aid rose last week due to a strike at Verizon Communications, but there was little evidence the recent stock markets turmoil had spooked businesses enough to cut workers. Initial claims for state unemployment b
Published 26 Aug, 2011 12:00am
South Korean inflation expectations hit 29-month high

South Korean inflation expectations hit 29-month high

South Korean consumers' confidence dipped to a five-month low in August while their inflation expectations hit a 29-month high, a central bank survey showed on Thursday, putting the Bank of Korea in a deeper policy dilemma. The Bank of Korea said in a sta
Published 26 Aug, 2011 12:00am
Hedge funds brace for more short-selling bans

Hedge funds brace for more short-selling bans

Hedge funds, wary of more intervention by European stock market regulators, are being forced to rethink investment strategies as authorities decide whether to extend short-selling bans. Managers and the banks that help them structure their trades say they
Published 26 Aug, 2011 12:00am
Hunted in Tripoli, Qadhafi hurls defiance

Hunted in Tripoli, Qadhafi hurls defiance

Muammar Qadhafi taunted his Libyan enemies and their Western backers on Thursday as rebel forces battled pockets of loyalists across Tripoli in an ever more urgent quest to find and silence the fugitive strongman. Rumours of Qadhafi or his sons being corn
Published 26 Aug, 2011 12:00am
Hedge funds brace for more short-selling bans

Hedge funds brace for more short-selling bans

Hedge funds, wary of more intervention by European stock market regulators, are being forced to rethink investment strategies as authorities decide whether to extend short-selling bans. Managers and the banks that help them structure their trades say they
Published 26 Aug, 2011 12:00am
Hunted in Tripoli, Qadhafi hurls defiance

Hunted in Tripoli, Qadhafi hurls defiance

Muammar Qadhafi taunted his Libyan enemies and their Western backers on Thursday as rebel forces battled pockets of loyalists across Tripoli in an ever more urgent quest to find and silence the fugitive strongman. Rumours of Qadhafi or his sons being corn
Published 26 Aug, 2011 12:00am
Bloomberg buying legal research firm

Bloomberg buying legal research firm

Bloomberg LP is buying legal tax and regulatory research company BNA for about $990 million in an all-cash deal. The transaction is expected to close this year, Bloomberg said on Thursday. Owned by current and former employees, Arlington, Virginia-based B
Published 26 Aug, 2011 12:00am
Floods in Kohistan kill at least 80

Floods in Kohistan kill at least 80

At least 80 people were killed and hundreds trapped after flash floods swept through a valley in north-western region of Khyber-Pakhtunkhwa early Thursday, rescue officials said. The floods, brought about by heavy overnight rain, washed away dozens of hou
Published 26 Aug, 2011 12:00am
IMF delays Ukraine visit, urges more reforms

IMF delays Ukraine visit, urges more reforms

The International Monetary Fund on Wednesday postponed a planned mission to Ukraine as it urged Kiev to speed up and strengthen reforms. IMF senior advisor David Lipton said in a statement that the Fund's next mission to review progress under its $15 bill
Published 26 Aug, 2011 12:00am
Floods in Kohistan kill at least 80

Floods in Kohistan kill at least 80

At least 80 people were killed and hundreds trapped after flash floods swept through a valley in north-western region of Khyber-Pakhtunkhwa early Thursday, rescue officials said. The floods, brought about by heavy overnight rain, washed away dozens of hou
Published 26 Aug, 2011 12:00am
Holiday mood pervades cotton market

Holiday mood pervades cotton market

Barring another two or three working days when some mills may pick up modest quantities of cotton from the market, most of the industry is preparing for gradually slowing down their production to tune in with the approaching Eid-ul-Fitar holidays.
Published 26 Aug, 2011 12:00am
Waterborne diseases in Sindh

Waterborne diseases in Sindh

The makeshift camps hosting internally displaced persons (IDPs) of flood-affected areas of Thatta and Badin-the two hardest hit districts in the recently floods-have now been hit by the waterborne diseases and allergies due to contaminated water and unhyg
Published 26 Aug, 2011 12:00am
Holiday mood pervades cotton market

Holiday mood pervades cotton market

Barring another two or three working days when some mills may pick up modest quantities of cotton from the market, most of the industry is preparing for gradually slowing down their production to tune in with the approaching Eid-ul-Fitar holidays.
Published 26 Aug, 2011 12:00am
Waterborne diseases in Sindh

Waterborne diseases in Sindh

The makeshift camps hosting internally displaced persons (IDPs) of flood-affected areas of Thatta and Badin-the two hardest hit districts in the recently floods-have now been hit by the waterborne diseases and allergies due to contaminated water and unhyg
Published 26 Aug, 2011 12:00am
Four reserved seats for non-Muslims in Senate: President signs amendment

Four reserved seats for non-Muslims in Senate: President signs amendment

President Asif Ali Zardari today signed, at a special ceremony, the amendment in the Senate (Election) Rules 1975 in compliance with provision in the 18th Constitutional Amendment to reserve four seats for non-Muslims in the Upper House of the Parliament
Published 26 Aug, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was up while the January vaida was unchanged on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December contract that had ended at Rs 1313.50 commenced with a gain of 10 paisa to Rs 1313.60. T
Published 26 Aug, 2011 12:00am
Four reserved seats for non-Muslims in Senate: President signs amendment

Four reserved seats for non-Muslims in Senate: President signs amendment

President Asif Ali Zardari today signed, at a special ceremony, the amendment in the Senate (Election) Rules 1975 in compliance with provision in the 18th Constitutional Amendment to reserve four seats for non-Muslims in the Upper House of the Parliament
Published 26 Aug, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 81,618 tonnes of cargo including 56,426 tonnes of import cargo, 25,192 tonnes of export cargo and 4,409 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 56,426 tonnes compri
Published 26 Aug, 2011 12:00am
Four reserved seats for non-Muslims in Senate: President signs amendment

Four reserved seats for non-Muslims in Senate: President signs amendment

President Asif Ali Zardari today signed, at a special ceremony, the amendment in the Senate (Election) Rules 1975 in compliance with provision in the 18th Constitutional Amendment to reserve four seats for non-Muslims in the Upper House of the Parliament
Published 26 Aug, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Wednesday to a three-week high after Statistics Canada's forecast for a record-large canola crop fell slightly below expectations. Statscan estimated Canada canola production of 13.2 million tonnes, falling in the range
Published 26 Aug, 2011 12:00am
NICL scam: government urged to give financial, human resources to FIA

NICL scam: government urged to give financial, human resources to FIA

National Assembly's Standing Committee on Commerce on Thursday recommended to the federal government to provide full financial and human resources to FIA for vigorous prosecution of NICL real estate scam. Presided over by Engineer Khurram Dastigir Khan, a
Published 26 Aug, 2011 12:00am
Grams prices seen higher on grain market

Grams prices seen higher on grain market

The rates of grams were higher on the wholesale grain market on Thursday as demand was strong at the approaching end of Ramazan, dealers said.
Published 26 Aug, 2011 12:00am
NICL scam: government urged to give financial, human resources to FIA

NICL scam: government urged to give financial, human resources to FIA

National Assembly's Standing Committee on Commerce on Thursday recommended to the federal government to provide full financial and human resources to FIA for vigorous prosecution of NICL real estate scam. Presided over by Engineer Khurram Dastigir Khan, a
Published 26 Aug, 2011 12:00am
NICL scam: government urged to give financial, human resources to FIA

NICL scam: government urged to give financial, human resources to FIA

National Assembly''s Standing Committee on Commerce on Thursday recommended to the federal government to provide full financial and human resources to FIA for vigorous prosecution of NICL real estate scam. Presided over by Engineer Khurram Dastigir Khan,
Published 26 Aug, 2011 12:00am
K&N's for health and happiness of the nation

K&N's for health and happiness of the nation

K&N's, a leading name of Pakistan's Poultry Industry started in 1964 with a single minded objective of providing better nutrition for health and happiness of the Nation, and has since been a founding pillar and beacon for the poultry industry. With years
Published 26 Aug, 2011 12:00am
Diesel, HOBC prices increased

Diesel, HOBC prices increased

The government on Thursday increased prices of high octane blending component (HOBC) and diesel while it maintained the prices of other products despite a 4.6 percent decline in oil prices in the global market. The government increased price of diesel by
Published 26 Aug, 2011 12:00am
The shopping centers of Karachi

The shopping centers of Karachi

Karachi is famous for its old and modern markets. Hundreds of fashionable shopping centers have come up in different parts of the city. Shopping in these tightly packed bazaars is not only a fun for a family and youngster of this metropolis but it also at
Published 26 Aug, 2011 12:00am
Diesel, HOBC prices increased

Diesel, HOBC prices increased

The government on Thursday increased prices of high octane blending component (HOBC) and diesel while it maintained the prices of other products despite a 4.6 percent decline in oil prices in the global market. The government increased price of diesel by
Published 26 Aug, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 26 Aug, 2011 12:00am
Diesel, HOBC prices increased

Diesel, HOBC prices increased

The government on Thursday increased prices of high octane blending component (HOBC) and diesel while it maintained the prices of other products despite a 4.6 percent decline in oil prices in the global market. The government increased price of diesel by
Published 26 Aug, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 26 Aug, 2011 12:00am
Index loses 39.32 points

Index loses 39.32 points

Investors on Thursday opted to offload their holdings ahead of a long weekend and the KSE-100 index lost 39.32 points to close at 10,901.76 points. Although, the market witnessed some support in initial hours and the index once again breached 11,000 cruci
Published 26 Aug, 2011 12:00am
Index loses 39.32 points

Index loses 39.32 points

Investors on Thursday opted to offload their holdings ahead of a long weekend and the KSE-100 index lost 39.32 points to close at 10,901.76 points. Although, the market witnessed some support in initial hours and the index once again breached 11,000 cruci
Published 26 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 26 Aug, 2011 12:00am
Index loses 39.32 points

Index loses 39.32 points

Investors on Thursday opted to offload their holdings ahead of a long weekend and the KSE-100 index lost 39.32 points to close at 10,901.76 points. Although, the market witnessed some support in initial hours and the index once again breached 11,000 cruci
Published 26 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 26 Aug, 2011 12:00am
BRIndex30 down 127.75 points

BRIndex30 down 127.75 points

On Thursday, BRIndex30 opened at 8,056.88 points. It touched an intraday high of 8,096.22 points and an intraday low of 7,911.73 points and closed at 7,929.13 points, which was -127.75 points or -1.59 percent lower than previous close. Total volume was 36
Published 26 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 Thursday (August 25, 2011).

Published 26 Aug, 2011 12:00am
BRIndex30 down 127.75 points

BRIndex30 down 127.75 points

On Thursday, BRIndex30 opened at 8,056.88 points. It touched an intraday high of 8,096.22 points and an intraday low of 7,911.73 points and closed at 7,929.13 points, which was -127.75 points or -1.59 percent lower than previous close. Total volume was 36
Published 26 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 Thursday (August 25, 2011).

Published 26 Aug, 2011 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from 31st August to 3rd September, 2011 (Wednesday, Thursday, Friday and Saturday) being public holidays declared by the
Published 26 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 Thursday (August 25, 2011).

Published 26 Aug, 2011 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from 31st August to 3rd September, 2011 (Wednesday, Thursday, Friday and Saturday) being public holidays declared by the
Published 26 Aug, 2011 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from 31st August to 3rd September, 2011 (Wednesday, Thursday, Friday and Saturday) being public holidays declared by the
Published 26 Aug, 2011 12:00am
Steve Jobs resigns as Apple CEO

Steve Jobs resigns as Apple CEO

The stock market will grapple on Thursday with what to make of Apple's future now that legendary co-founder Steve Jobs has stepped down from the helm. The culture-changing California company's stock was bruised in trading that followed the announcement We
Published 26 Aug, 2011 12:00am
Steve Jobs resigns as Apple CEO

Steve Jobs resigns as Apple CEO

The stock market will grapple on Thursday with what to make of Apple's future now that legendary co-founder Steve Jobs has stepped down from the helm. The culture-changing California company's stock was bruised in trading that followed the announcement We
Published 26 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 Thursday (August 25, 2011).

Published 26 Aug, 2011 12:00am
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