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Archive - 2011-08-28
Irene damage could be 'tens of billions'
Top News

Irene damage could be 'tens of billions'

NEW YORK: Hurricane Irene is expected to inflict tens of billions of dollars in damage before it concludes a three-day s
Published 28 Aug, 2011 07:16pm
Zulfiqar Mirza resigns from PPP
Top News

Zulfiqar Mirza resigns from PPP

KARACHI : Senior Pakistan People Party (PPP) leader and Sindh senior minister Dr Zulfiqar Ali Mirza here Sunday announce
Published 28 Aug, 2011 06:13pm
ICO sees arabica price up
Commodities

ICO sees arabica price up

SAN JOSE : The price of robusta coffee could fall next year on ample stocks even as prices of higher quality arabicas ar
Published 28 Aug, 2011 05:18pm
Inflation expectation stable: BBG
Top News

Inflation expectation stable: BBG

VIENNA : There is no reason to believe that inflation expectation has increased, European Central Bank Governing Council
Published 28 Aug, 2011 05:03pm
Poor yields to bolster corn
Commodities

Poor yields to bolster corn

CHICAGO : Grain markets have been given a shot in the arm by the possibility of another US economic stimulus from the
Published 28 Aug, 2011 03:54pm
Hyundai boss to give $462mn to charity
Top News

Hyundai boss to give $462mn to charity

SEOUL : South Korea's top automaker Hyundai Motor said Sunday its chairman would give $462 million to charity, partly fu
Published 28 Aug, 2011 07:55am
Khyber Pakhtunkhwa sets up Sugarcane Control Board

Khyber Pakhtunkhwa sets up Sugarcane Control Board

The Khyber Pakhtunkhwa government has constituted Provincial Sugarcane Control Board (PSCB) with the following composition, for the financial year 2011-12. The Cane Commission/Director Food Khyber Pakhtunkhwa will be headed as Chairman of the PSCB while t
Published 28 Aug, 2011 12:00am
Two security alerts in UK historic city

Two security alerts in UK historic city

British army bomb disposal experts were called into the historic cathedral city of Canterbury on Friday night to help investigate two incidents, including a fake bomb found on a railway line during rush hour, officials said. The discovery of the suspiciou
Published 28 Aug, 2011 12:00am
Two security alerts in UK historic city

Two security alerts in UK historic city

British army bomb disposal experts were called into the historic cathedral city of Canterbury on Friday night to help investigate two incidents, including a fake bomb found on a railway line during rush hour, officials said. The discovery of the suspiciou
Published 28 Aug, 2011 12:00am
Three dead as hurricane batters US east coast

Three dead as hurricane batters US east coast

At least three people, including an 11-year-old, have died in storm-related incidents since Hurricane Irene slammed into the US east coast on Saturday, officials said. The child died midday Saturday when a tree fell on an apartment complex in Newport News
Published 28 Aug, 2011 12:00am
Three dead as hurricane batters US east coast

Three dead as hurricane batters US east coast

At least three people, including an 11-year-old, have died in storm-related incidents since Hurricane Irene slammed into the US east coast on Saturday, officials said. The child died midday Saturday when a tree fell on an apartment complex in Newport News
Published 28 Aug, 2011 12:00am
Global risks up, time to act is now: Lagarde

Global risks up, time to act is now: Lagarde

The new head of the IMF warned on Saturday that the global economy risks falling back into recession and called for urgent co-ordinated policy action, including the mandatory recapitalization of European banks. "Developments this summer have indicated we
Published 28 Aug, 2011 12:00am
Global risks up, time to act is now: Lagarde

Global risks up, time to act is now: Lagarde

The new head of the IMF warned on Saturday that the global economy risks falling back into recession and called for urgent co-ordinated policy action, including the mandatory recapitalization of European banks. "Developments this summer have indicated we
Published 28 Aug, 2011 12:00am
Global risks up, time to act is now: Lagarde

Global risks up, time to act is now: Lagarde

The new head of the IMF warned on Saturday that the global economy risks falling back into recession and called for urgent co-ordinated policy action, including the mandatory recapitalization of European banks. "Developments this summer have indicated we
Published 28 Aug, 2011 12:00am
India lawmakers approach graft deal: Anna agrees to end fast

India lawmakers approach graft deal: Anna agrees to end fast

Indian lawmakers moved nearer to an agreement on tough anti-graft legislation on Saturday as they sought to end a high-stakes stand-off with a hugely popular anti-corruption hunger striker. Lawmakers from all parties stressed during a special parliamentar
Published 28 Aug, 2011 12:00am
India lawmakers approach graft deal: Anna agrees to end fast

India lawmakers approach graft deal: Anna agrees to end fast

Indian lawmakers moved nearer to an agreement on tough anti-graft legislation on Saturday as they sought to end a high-stakes stand-off with a hugely popular anti-corruption hunger striker. Lawmakers from all parties stressed during a special parliamentar
Published 28 Aug, 2011 12:00am
MQM contradicts media reports

MQM contradicts media reports

The Rabita Committee of Muttahida Qaumi Movement has condemned the reports against MQM with regard to assassination of MQM Convenor Dr Imran Farooq. In a press release, it said certain TV channels, newspapers and a news agency have released a concocted, f
Published 28 Aug, 2011 12:00am
MQM contradicts media reports

MQM contradicts media reports

The Rabita Committee of Muttahida Qaumi Movement has condemned the reports against MQM with regard to assassination of MQM Convenor Dr Imran Farooq. In a press release, it said certain TV channels, newspapers and a news agency have released a concocted, f
Published 28 Aug, 2011 12:00am
Gunmen abduct, kill retired colonel

Gunmen abduct, kill retired colonel

A police official says gunmen kidnapped and killed a retired army colonel in north-western Pakistan, and a police officer died trying to rescue him. Umer Hayat says the gunmen seized Colonel Shakeel Ahmad on Saturday as he was on his way home from morning
Published 28 Aug, 2011 12:00am
Gunmen abduct, kill retired colonel

Gunmen abduct, kill retired colonel

A police official says gunmen kidnapped and killed a retired army colonel in north-western Pakistan, and a police officer died trying to rescue him. Umer Hayat says the gunmen seized Colonel Shakeel Ahmad on Saturday as he was on his way home from morning
Published 28 Aug, 2011 12:00am
Obama, Merkel discuss global economy

Obama, Merkel discuss global economy

President Barack Obama and German Chancellor Angela Merkel have spoken by telephone about the global economy and the crisis facing countries with the euro as their currency. The White House says that in their conversation Saturday, the leaders agreed on t
Published 28 Aug, 2011 12:00am
Obama, Merkel discuss global economy

Obama, Merkel discuss global economy

President Barack Obama and German Chancellor Angela Merkel have spoken by telephone about the global economy and the crisis facing countries with the euro as their currency. The White House says that in their conversation Saturday, the leaders agreed on t
Published 28 Aug, 2011 12:00am
Obama, Merkel discuss global economy

Obama, Merkel discuss global economy

President Barack Obama and German Chancellor Angela Merkel have spoken by telephone about the global economy and the crisis facing countries with the euro as their currency. The White House says that in their conversation Saturday, the leaders agreed on t
Published 28 Aug, 2011 12:00am
SToS payment: SRB sends reminder to companies, individuals

SToS payment: SRB sends reminder to companies, individuals

Sindh Revenue Board (SRB) has sent reminders to all those companies and individuals who have not paid Sales Tax on Services (SToS) yet to Sindh government despite the passage of the deadline. This was stated by a spokesman of SRB while talking to Busin
Published 28 Aug, 2011 12:00am
SToS payment: SRB sends reminder to companies, individuals

SToS payment: SRB sends reminder to companies, individuals

Sindh Revenue Board (SRB) has sent reminders to all those companies and individuals who have not paid Sales Tax on Services (SToS) yet to Sindh government despite the passage of the deadline. This was stated by a spokesman of SRB while talking to Busin
Published 28 Aug, 2011 12:00am
SToS payment: SRB sends reminder to companies, individuals

SToS payment: SRB sends reminder to companies, individuals

Sindh Revenue Board (SRB) has sent reminders to all those companies and individuals who have not paid Sales Tax on Services (SToS) yet to Sindh government despite the passage of the deadline. This was stated by a spokesman of SRB while talking to Busin
Published 28 Aug, 2011 12:00am
More Somali famine victims fleeing to Yemen: UNHCR

More Somali famine victims fleeing to Yemen: UNHCR

There has been a jump in the number of Somalis, hit by famine, instability and high food prices who are fleeing to Yemen instead of other countries in the drought-ridden Horn of Africa region, the UN refugee agency said. Some 3.7 million Somalis are at ri
Published 28 Aug, 2011 12:00am
More Somali famine victims fleeing to Yemen: UNHCR

More Somali famine victims fleeing to Yemen: UNHCR

There has been a jump in the number of Somalis, hit by famine, instability and high food prices who are fleeing to Yemen instead of other countries in the drought-ridden Horn of Africa region, the UN refugee agency said. Some 3.7 million Somalis are at ri
Published 28 Aug, 2011 12:00am
Petroleum, coal exports increase in July

Petroleum, coal exports increase in July

The exports of petroleum and coal products witnessed wide surge of 152.56 percent during the first month of the current fiscal year as compared to the same month of last year. The exports of petroleum and gas products stood at $157.730 million during July
Published 28 Aug, 2011 12:00am
'No timeframe can be given for restoration of peace in Karachi'

'No timeframe can be given for restoration of peace in Karachi'

Sindh Information Minister Sharjeel Memon said that no timeframe can be given for restoration of peace in Karachi and operation will continue till the arrest of last extortionist. Talking to a private news channel on Saturday, he said that about a hundred
Published 28 Aug, 2011 12:00am
Pervaiz advises Shahbaz to focus on Punjab

Pervaiz advises Shahbaz to focus on Punjab

PML-Q central leader and Senior Federal Minister Chaudhry Pervaiz Elahi on Saturday said Shahbaz Sharif should focus on Punjab and improve its situation instead of indulging in Sindh affairs. "Crimes rate has increased manifold in Punjab while dacoities a
Published 28 Aug, 2011 12:00am
Chinese companies urged to finance IP gas pipeline project

Chinese companies urged to finance IP gas pipeline project

The Pakistan Economy Watch (PEW) on Saturday said Chinese companies should help Pakistan complete $1.3 billion Iran gas pipeline project. Government is desperately looking foreign funds to complete peace pipeline project but American opposition is keeping
Published 28 Aug, 2011 12:00am
EU to provide 25 million euro to RAHA Programme

EU to provide 25 million euro to RAHA Programme

Senior Minister of Khyber Pakhtunkhwa Rahim Dad Khan said that international donors like European Union and Japan are intriguing to funds for development in Khyber Pakhtunkhwa because the government has ensured the transparency and effective monitoring on
Published 28 Aug, 2011 12:00am
Short- long-term loans: Aptma seeks five percent interest rate support

Short- long-term loans: Aptma seeks five percent interest rate support

Chairman All Pakistan Textile Mills Association (Aptma), Gohar Ejaz has demanded five percent interest rate support on all outstanding short and long-term loans as on 30 June 2011 in line with the measures adopted by the regional competitors to respond to
Published 28 Aug, 2011 12:00am
PSDF signed two contracts

PSDF signed two contracts

Punjab Skills Development Fund (PSDF) signed two contracts here on Saturday for trainings in the sectors of hospitality and construction for people belonging to six model villages in district Muzaffargarh. According to an official, College of Tourism and
Published 28 Aug, 2011 12:00am
Lawyers' killings: strike at courts enters second day

Lawyers' killings: strike at courts enters second day

The legal fraternity continued strike at subordinate courts in the city on Saturday, the second consecutive day, against the killings of their colleagues. City and Malir district courts wore deserted look, as lawyers stayed away from appearing in the liti
Published 28 Aug, 2011 12:00am
TDAP participating in first China-Eurasia Exposition

TDAP participating in first China-Eurasia Exposition

Trade Development Authority of Pakistan (TDAP) is participating in 1st China-Eurasia Expo on a larger scale; it is building a Pakistan Pavilion at Urumqi, China for displaying a wide range of export quality products to highlight the industrial progress ac
Published 28 Aug, 2011 12:00am
Political parties asked to file statement of accounts by tomorrow

Political parties asked to file statement of accounts by tomorrow

The Election Commission of Pakistan (ECP) has asked the political parties to file duly audited consolidated statements of their accounts for the year 2010-11 by Monday. "This is with accordance to Article 13 of the Political Parties Order 2002, which stat
Published 28 Aug, 2011 12:00am
Women empowerment: CWF chairperson briefed about initiatives

Women empowerment: CWF chairperson briefed about initiatives

Federal Minister and Chairperson Benazir Income Support Programme (BISP), Madame Farzana Raja, during her current visit to China met Chairperson China Women Federation (CWF), Ms Meng Xiaosi in Beijing and discussed matters of mutual interest especially th
Published 28 Aug, 2011 12:00am
'KESC successfully test fires second gas turbine'

'KESC successfully test fires second gas turbine'

KESC announced on Saturday that it had successfully test fired, the second gas turbine of its flagship 560MW BQPS-II power project. The base load test also went as per the plan, paving the way for a series of other tests. After the successful synchronisat
Published 28 Aug, 2011 12:00am
'Iesco urgently needs revenue'

'Iesco urgently needs revenue'

Chief Executive Officer Iesco Javaid Pervaiz has said that company urgently needed revenue for which hundred percent recovery must be made from private sector as well as government sector. He further said where efforts are being made on top level there SD
Published 28 Aug, 2011 12:00am
Entrepreneurs' Organisation meets Shahbaz

Entrepreneurs' Organisation meets Shahbaz

Entrepreneurs' Organisation (EO) Karachi Chapter organised a meeting with Chief Minister Punjab Mian Shehbaz Sharif where he spoke on the topic "Opportunities and Challenges for Young Entrepreneurs in Pakistan in view of the uncertain Political Situation"
Published 28 Aug, 2011 12:00am
Dengue badly hits Punjab as patients' number reaches 945

Dengue badly hits Punjab as patients' number reaches 945

Dengue fever is gripping Punjab fast and total number of dengue patients has reached 945. In Punjab, 100 new cases have been reported during the last 24 hours. Out of these, 99 were reported in Lahore. There are total 856 reported dengue cases in provinci
Published 28 Aug, 2011 12:00am
CEOs of telecom companies call on secretary IT

CEOs of telecom companies call on secretary IT

CEOs Circlenet, Redtone, Dancom, Telecard, Wateen, Wisecomm etc called on Federal Secretary for Information Technology and Telecom, Saeed Ahmad Khan on Saturday. The meeting focused on financial, legal and administrative issues.
Published 28 Aug, 2011 12:00am
DCO expresses dissatisfaction over unhygienic conditions

DCO expresses dissatisfaction over unhygienic conditions

District Co-ordination Officer Karachi Mohammad Hussain Syed expressing dissatisfaction over the cleanliness conditions in the city has directed town administrators to improve it. Addressing a meeting of the 18 town administrators at Civic Center's Commit
Published 28 Aug, 2011 12:00am
FBR holds awareness seminar

FBR holds awareness seminar

A seminar in pursuance of FBR policy of Facilitation and Taxpayer's Education was held on 25.08.2011 in Pak Secretariat, Islamabad regarding e-filing of returns and statements by a team of Regional Tax Office, Islamabad. At the programme, technical input
Published 28 Aug, 2011 12:00am
Imran questions credibility of newly appointed AGP

Imran questions credibility of newly appointed AGP

Pakistan Tahreek-e-Insaf (PTI) Chairman, Imran Khan has questioned the appointment of Auditor General of Pakistan and claimed that he is involved in many corruption cases. He was addressing an Iftar party, which was arranged by PTI Central Vice President,
Published 28 Aug, 2011 12:00am
Gold jumps to Rs 52,114

Gold jumps to Rs 52,114

Gold jumped by Rs 1,543 to close at Rs 52,114 per 10 grams in the local market on Saturday, as its international price also soared to $1,828 an ounce, market sources said. According to Karachi Saraf Association official, tola (11.664 grams) price also sur
Published 28 Aug, 2011 12:00am
UVAS undergraduate programmes: admissions begin

UVAS undergraduate programmes: admissions begin

The University of Veterinary and Animal Sciences (UVAS) has opened its annual undergraduate degree programmes admission 2011 in various disciplines. The university administration says the university is offering admissions to five year in (DVM and Pharm. D
Published 28 Aug, 2011 12:00am
Engines from US: LHC moved against Railways decision

Engines from US: LHC moved against Railways decision

Chairman Pakistan Tahrik-e-Inqalab, Rana Ilamdin Ghazi has approached the Lahore High Court against Pakistan Railways with prayer to restrain the railway authorities from leasing out railway engines from America. The petitioner contended that 400 engines
Published 28 Aug, 2011 12:00am
'CPSP doctors to be trained in England, Ireland'

'CPSP doctors to be trained in England, Ireland'

College of Physicians and Surgeons Pakistan (CPSP) trainee doctors will be trained in England and Ireland for a specific period of time in different disciplines, said Professor Khalid Masood Gondal, Regional Director. He was speaking at a ceremony to mark
Published 28 Aug, 2011 12:00am
Army sends 21 truckloads of relief goods to Fata IDPs

Army sends 21 truckloads of relief goods to Fata IDPs

Twenty-one truckloads of relief goods were sent to Mohmand Agency by Multan Corps on Saturday to provide relief to internally displaced persons (IDPs) of Fata to enable them celebrate Eidul Fitr. General Officer Commanding (GOC) Major General Sadiq Ali Kh
Published 28 Aug, 2011 12:00am
Arms licences computerisation: Nadra sets up 15 centres in Lahore region

Arms licences computerisation: Nadra sets up 15 centres in Lahore region

The National Database and Registration Authority (Nadra) Lahore Region has designated its 15 centres in the region to convert manual arms licences into computerised in line with the federal government's drive for eradication of illegal arms from the count
Published 28 Aug, 2011 12:00am
FBR officials asked not to harass traders

FBR officials asked not to harass traders

Director Intelligence and Investigation, Federal Board of Revenue (FBR), Lahore, Sumaira Nazir has directed the staff of FBR Intelligence and Investigation Cell not to harass the traders of other cities who come to Lahore markets for purchase. She was tal
Published 28 Aug, 2011 12:00am
'Woven garment exporters facing acute liquidity crunch'

'Woven garment exporters facing acute liquidity crunch'

Woven garment exporters are facing acute liquidity crunch, as payment of billions of rupees is stuck up with the government departments on account of rebate, customs drawback and sales tax refunds, said Chairman Pakistan Readymade Garments Manufacturers &
Published 28 Aug, 2011 12:00am
Dereliction in duty: Pattoki hospital doctor charge-sheeted

Dereliction in duty: Pattoki hospital doctor charge-sheeted

Secretary Health Punjab, Mohammad Jehanzeb Khan has charge-sheeted the surgeon doctor Nadeem Anwar of Tehsil Headquarter Hospital Pattoki on the charges of irresponsible attitude in official duties, less number of procedures and active involvement in priv
Published 28 Aug, 2011 12:00am
Eid-ul-Fitr: services Hospital schedules duties of staff

Eid-ul-Fitr: services Hospital schedules duties of staff

In order to maintain routine work and ensure treatment of patients during the Eid-ul-Fitr holidays at Services Hospital, duties of additional medical superintendents, deputy medical superintendents, doctors, nurses and other staff have been fixed. The sta
Published 28 Aug, 2011 12:00am
Hashoo foundation organises 2-day Workshop

Hashoo foundation organises 2-day Workshop

Entrepreneurs, a USAID funded project, will expand the market opportunities for micro and small entrepreneurs in Pakistan through impacting a minimum of 120,000 entrepreneurs training, of whom 75 percent will be women. Out of these, 6,000 (at least 80 per
Published 28 Aug, 2011 12:00am
Nadra issues 22,000 CNICs with lifetime validity for senior citizens

Nadra issues 22,000 CNICs with lifetime validity for senior citizens

As many as 7.4 million senior citizens have been exempted from renewal of computerised identity cards, as they have reached the age of 65. Under the policy of the government the senior citizens ageing 65 and above are exempted from renewal of ID cards and
Published 28 Aug, 2011 12:00am
Recognition of post-Qadhafi setup

Recognition of post-Qadhafi setup

Historically, Pakistan has always been obsequiously disposed towards the status quo in the Middle East and North Africa, earning in return the indifference of the Arab masses to many of its critical international positions on crucial foreign policy issues
Published 28 Aug, 2011 12:00am
Punjab government's populist vision

Punjab government's populist vision

Multiple stories, published in various newspapers about Punjab government's much-touted yellow cab scheme, cast dark shadows on its success. According to latest reports, the provincial government has once again lowered the criteria for eligibility of appl
Published 28 Aug, 2011 12:00am
Shahbaz Taseer's abduction

Shahbaz Taseer's abduction

The broad daylight abduction of the slain Punjab Governor Salmaan Taseer's son, Shahbaz Taseer, has come as a huge shock countrywide not only because of who he is, but the possible reasons for the crime and, of course, the crime itself. His kidnappers plu
Published 28 Aug, 2011 12:00am
Can power sector deliver?

Can power sector deliver?

The ongoing power crises have exacted a very heavy toll. So much so, that people are sick and tired. Although the government is trying its utmost to mitigate the crises, still there seems to be no end to the woe. On the other hand, experts conclude that t
Published 28 Aug, 2011 12:00am
Fighting money laundering - a UK perspective - III

Fighting money laundering - a UK perspective - III

Examples of suspicious transactions: The Regulations require staff to be trained in recognition and reporting of suspicious transactions.36 To identify a suspicious transaction is an almost impossible task within an organisation chained with the re
Published 28 Aug, 2011 12:00am
Morocco taps benefits of Barbary fig oil

Morocco taps benefits of Barbary fig oil

Barbary fig oil, celebrated as an effective anti-ageing skin potion, is following argan oil as a great new cosmetic export from Morocco. But the tiny amount of oil extracted from each cactus fruit makes Barbary fig oil the most expensive on the market, ab
Published 28 Aug, 2011 12:00am
CBC selling 'bowzers' load of water

CBC selling 'bowzers' load of water

The houses located in Phase-VIII of Defence Housing Authority (DHA) Karachi, do not have access to piped water supply and are solely dependent on 'bowzers', (mini tank trucks) of Cantonment Board Clifton, (CBC), for their need of potable water, supplied t
Published 28 Aug, 2011 12:00am
Zardari felicitates winner of UN award DSP Gulfam

Zardari felicitates winner of UN award DSP Gulfam

President Asif Ali Zardari felicitated Deputy Superintendent Shahzadi Gulfam on winning the UN award for International Female Police Peacekeeper Award 2011. Ms Gulfam is the first Pakistani female to win this prestigious award. In his felicitation message
Published 28 Aug, 2011 12:00am
Apply through OEC for jobs in South Korea: managing director

Apply through OEC for jobs in South Korea: managing director

Managing Director of Overseas Employment Corporation (OEC) Saeed Ahmed Sheikh here on Saturday said that people intending for the employment in Korea should apply through the designated office of OEC instead of taking help of agents. Talking to newsmen, t
Published 28 Aug, 2011 12:00am
Rescue 1122 to take security measures on Eid

Rescue 1122 to take security measures on Eid

Rescue 1122 would deploy emergency vehicles at all Eid Prayer sites and sensitive areas along with trained emergency staff to provide immediate pre-hospital emergency cover to people if needed, said Dr Rizwan Naseer, Director General of Rescue 1122 on Sat
Published 28 Aug, 2011 12:00am
Major buildings: Appointment of 'energy managers' proposed

Major buildings: Appointment of 'energy managers' proposed

National Energy Conservation Centre (Enercon) has proposed appointment of energy managers in the major buildings of the country to save electricity and alleviate the prevailing energy crisis. The non-implementation of building energy code, prepared in col
Published 28 Aug, 2011 12:00am
Gilani discusses current issues with chief ministers

Gilani discusses current issues with chief ministers

Prime Minister Syed Yusuf Raza Gilani on Saturday met Chief Ministers of the four provinces here at the Prime Minister Secretariat and discussed development issues and matters of mutual interest. Gilani met Punjab Mian Shahbaz Sharif, Chief Minister Sindh
Published 28 Aug, 2011 12:00am
Rs 40,000 prize bonds draw on September 5

Rs 40,000 prize bonds draw on September 5

The 47th draw of Rs 40,000/- prize bonds is scheduled to be held on 05.09.2011 at State Bank of Pakistan, Hyderabad. Central Directorate of National Savings, Islamabad. Ministry of Finance and State Bank of Pakistan will jointly organise the draw. The dra
Published 28 Aug, 2011 12:00am
Huge arms cache seized at former MNA's residence

Huge arms cache seized at former MNA's residence

Balochistan Frontier Corps (FC) and Duki Levies here on Saturday seized a huge cache of illegal arms from the residence of former MNA (Member National Assembly) Sardar Israr Tareen and detained as many as 14 suspects during a joint raid.
Published 28 Aug, 2011 12:00am
Traders raise essentials', Eid-specific items' prices freely

Traders raise essentials', Eid-specific items' prices freely

The traders have increased the prices of essential kitchen items as well as the prices of Eid-specific items like clothes, shoes, hosiery items and others manifold, saying that the manufacturers and suppliers have increased the prices. A survey carried ou
Published 28 Aug, 2011 12:00am
Imran Farooq murder: JI demands all aspects to be made public

Imran Farooq murder: JI demands all aspects to be made public

The Jamaat-i-Islami (JI) on Saturday demanded of the authorities that all aspects of the murder of Dr Imran Farooq, the late leader of Muttahida Qaumi Movement (MQM), should be made public and the names of his murderers should not be kept secret for polit
Published 28 Aug, 2011 12:00am
Cheques distributed among Waseela-e-Haq beneficiaries

Cheques distributed among Waseela-e-Haq beneficiaries

Benazir Income Support Programme is the practical manifestation of the dreams of Shaheed Zulfiqar Ali Bhutto and Shaheed Mohtarama Benzair Bhutto. This Programme is entirely apolitical, which is its distinct feature. In the first phase of the programme, f
Published 28 Aug, 2011 12:00am
Isolated rains forecast for various KP parts

Isolated rains forecast for various KP parts

The provincial met office on Saturday forecast isolated rains in different parts of Khyber Pakhtunkhwa during the next 24 hours as temperatures soar to 37 degree centigrade in the provincial metropolis. Mostly hot and humid weather prevailed in the provin
Published 28 Aug, 2011 12:00am
Number of HIV/AIDS patients increasing in Pakistan

Number of HIV/AIDS patients increasing in Pakistan

National AIDS Prevention and Control Programme (NACP) is no more effective after the devolution of some ministries to the provinces while the number of patients suffering from HIV/AIDS is increasing with each passing day in Pakistan. Well-placed sources t
Published 28 Aug, 2011 12:00am
Gold surpases $1,900; oil gains on Libya outlook

Gold surpases $1,900; oil gains on Libya outlook

Gold surpassed $1,900 an ounce for the first time last week as investors continued to snap up the safe-haven investment on growth concerns, while oil gained thanks to an unclear outlook for Libyan crude output. After strong gains for commodities at the st
Published 28 Aug, 2011 12:00am
World market price for upland cotton

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 91.96 cents per lb, effective through September 1. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. The next annou
Published 28 Aug, 2011 12:00am
Thailand sells 300,000 tonnes of rice to Indonesia

Thailand sells 300,000 tonnes of rice to Indonesia

Thailand, the world's biggest rice exporter, has signed a contract to sell 300,000 tonnes of 15 percent broken grade white rice to Indonesia's state procurement body, Bulog, in a government deal, a senior Thai official said on Friday.
Published 28 Aug, 2011 12:00am
Australia wheat prospects boosted by forecast rain

Australia wheat prospects boosted by forecast rain

Australia's chances of boosting high protein wheat output have improved after the country's weather bureau on Wednesday forecast rain this weekend across parched regions which produce high quality wheat. The promise of rain comes as buyers' interest in Au
Published 28 Aug, 2011 12:00am
Tight coffee supply to embolden Brazil producers

Tight coffee supply to embolden Brazil producers

Coffee producers in Brazil, the world's top grower, will have the upper hand in trading their stocks in the long inter-harvest from October to May with a smaller 'off year' crop to sell and growing demand. Global demand for the popular caffeine drink has
Published 28 Aug, 2011 12:00am
US gold rises two percent as Bernanke raises easing hopes

US gold rises two percent as Bernanke raises easing hopes

Gold rose 2 percent on Friday after days of liquidation pushed bullion down from record highs this week, as the US Federal Reserve chairman raised hopes that the central bank could consider further stimulus measures to fight high unemployment.
Published 28 Aug, 2011 12:00am
Vietnam sees record rice, coffee exports in 2011

Vietnam sees record rice, coffee exports in 2011

Vietnam is on track to export record quantities of rice and coffee this year thanks to rising output and strong overseas demand, and revenue growth from shipments in the first eight months has helped trim the country's chronic trade deficit.
Published 28 Aug, 2011 12:00am
Asian rice prices rise due to Thai hoarding, Indonesian demand

Asian rice prices rise due to Thai hoarding, Indonesian demand

Thai rice prices continued to rise this week because of hoarding related to a huge increase in the intervention price promised by the new government, while prices in Vietnam were supported by another big Indonesian order, exporters said on Wednesday.
Published 28 Aug, 2011 12:00am
Japanese rolled copper output down 4.1 percent

Japanese rolled copper output down 4.1 percent

Japan's output of rolled copper product dropped 4.1 percent in July from a year earlier, its second consecutive year-on-year fall, due to sluggish demand from auto and chip makers, an industry association said on Friday. The preliminary data from the Japa
Published 28 Aug, 2011 12:00am
CIA demands cuts to critical 9/11 memoir

CIA demands cuts to critical 9/11 memoir

The Central Intelligence Agency has demanded a publisher make extensive cuts to a book critical of its performance before and after the September 11 attacks, officials said Friday. "The Black Banners: The Inside Story of 9/11 and the War Against al Qaeda,
Published 28 Aug, 2011 12:00am
Turkmenistan frees over 3,700 prisoners in amnesty

Turkmenistan frees over 3,700 prisoners in amnesty

Turkmenistan pardoned more than 3,700 prisoners, including around 30 foreigners, and released them from prison early on Saturday in the latest amnesty ordered by the leader of the reclusive Central Asian state. President Kurbanguly Berdymukhamedov, whose
Published 28 Aug, 2011 12:00am
Egypt resumes flights to Baghdad

Egypt resumes flights to Baghdad

Egypt's national carrier, EgyptAir, resumed Saturday its flights to the Iraqi capital Baghdad after a 20-year suspension. "The resumption of the service was delayed more than once due to low numbers of passengers and several problems including those relat
Published 28 Aug, 2011 12:00am
Murdoch tabloid private eye delivers hacking names

Murdoch tabloid private eye delivers hacking names

A private detective jailed for illegally intercepting voicemail messages on behalf of a journalist at one of Rupert Murdoch's British tabloids on Friday gave lawyers the names of the people he says ordered him to carry out the phone hacking. Glen Mulcaire
Published 28 Aug, 2011 12:00am
Guatemala agrees to US extradition of former President

Guatemala agrees to US extradition of former President

Guatemala's Constitutional Court on Friday ratified the extradition of former President Alfonso Portillo to the United States, where he faces money laundering charges. Portillo, who was president from 2000 to 2004, is accused of laundering $70 million thr
Published 28 Aug, 2011 12:00am
Singapore votes for new president

Singapore votes for new president

Singaporeans voted Saturday in the city-state's first contested presidential election in 18 years following a heated campaign marked by calls for stronger checks on the ruling party. Polls closed at 8:00 pm local time (1200 GMT) after having been open for
Published 28 Aug, 2011 12:00am
Georgian rebel region vice president wins election

Georgian rebel region vice president wins election

The vice president of Abkhazia, Alexander Ankvab, won the presidential race in the breakaway Georgian region on Saturday, a victory that is likely to keep the territory in Russia's sphere of influence. Friday's polls, which Tbilisi says were illegitimate,
Published 28 Aug, 2011 12:00am
Sudan court sentences rebel leader to death

Sudan court sentences rebel leader to death

A Sudanese court handed a death sentence on Saturday to a leader of Darfur's most powerful rebel group, the Justice and Equality Movement (JEM), saying he violated the constitution and fomented war against the state, Sudan's state news agency said.
Published 28 Aug, 2011 12:00am
Rajiv Gandhi's killers to be hang next month

Rajiv Gandhi's killers to be hang next month

Three men convicted of the 1991 assassination of then Indian prime minister Rajiv Gandhi will be hanged early next month, a senior jail official has said. The announcement late Friday that the executions would be carried out on September 9 came after Indi
Published 28 Aug, 2011 12:00am
Thousands of Syrians march against Assad; 3 killed

Thousands of Syrians march against Assad; 3 killed

Syrian forces killed at least three protesters on Saturday as tens of thousands of people marched again to demand the removal of President Bashar al-Assad on a major religious occasion, activists and residents said. Syria's ally Iran said Assad needed to
Published 28 Aug, 2011 12:00am
Honduras recognises Palestine as independent state

Honduras recognises Palestine as independent state

Honduras on Friday recognised Palestine as an independent state amid a drive by the Arab League to upgrade it to full membership status in the United Nations. Honduras took the decision even though it threatened the country's relationship with long-standi
Published 28 Aug, 2011 12:00am
Obama invokes September 11 attacks in call for service

Obama invokes September 11 attacks in call for service

President Barack Obama urged Americans on Saturday to recall the spirit that united the country after the September 11 attacks and take part in a national day of service to mark the anniversary next month. In remarks acknowledging the "great challenges" t
Published 28 Aug, 2011 12:00am
18 killed in attack on Algerian military academy

18 killed in attack on Algerian military academy

At least 18 people were killed and 26 injured in a twin suicide attack on a military academy in Algeria, the Defence Ministry said Saturday. The attack happened late Friday when the two attackers blew themselves up in front of the academy's entrance, acco
Published 28 Aug, 2011 12:00am
27 killed in north Iraq bus crash

27 killed in north Iraq bus crash

At least 27 people were killed Saturday in northern Iraq when a bus collided with a car in Kirkuk, according to the head of the city's traffic police, Miqdad Said. The bus was carrying families who were going on vacation to Dohuk city, in the Kurdistan re
Published 28 Aug, 2011 12:00am
Russia successfully test launches troubled missile

Russia successfully test launches troubled missile

Russia on Saturday successfully test fired its new nuclear-capable Bulava intercontinental missile which it hopes will become a key strategic weapon despite a string of setbacks, the Kremlin said. The missile was fired from the Yury Dolgoruky submarine in
Published 28 Aug, 2011 12:00am
SU admission's pre-entry test on September 9

SU admission's pre-entry test on September 9

The University of Sindh has announced admission to first batch in Sindh University Campus Dadu for the academic session 2011-2012 on Saturday. In first instance the Sindh University Campus Dadu has announced admissions to MBA degree programme for its morn
Published 28 Aug, 2011 12:00am
Cop killed, two hurt in fire exchange

Cop killed, two hurt in fire exchange

A police personnel was killed while two others were injured in an exchange of fire with miscreants here in the posh Defence area of the district on Saturday morning. According to details, a policeman was killed and two other sustained wounds when the law
Published 28 Aug, 2011 12:00am
Tariq takes over as chief EPZA

Tariq takes over as chief EPZA

Muhammad Tariq Hassan has taken over as Chairman Export Processing Zones Authority (EPZA). He is a prominent businessman of the country. He served as Nabib Nazim Karachi for four years. He was advisor to Chief Minister of Sindh.
Published 28 Aug, 2011 12:00am
Seven killed in various incidents

Seven killed in various incidents

At-least seven persons were killed in separate incidents in various parts of the metropolis, here on Saturday. A man was shot dead near Nasir Jump Korangi Crossing in the jurisdiction of Korangi Industrial Area police station. The victim Hanif Abbasi, 45,
Published 28 Aug, 2011 12:00am
Increase in bread prices opposed

Increase in bread prices opposed

Bread Association (Sindh Circle) has condemned shopkeepers on enhancing the prices of breads of Dawn and Bake Parlor in the city. Chairman of the Association, Zial ul Haq Butt, while addressing members and office-bearers of Bread Association (Sindh Circle
Published 28 Aug, 2011 12:00am
Two Nato oil tankers set on fire near Sibi

Two Nato oil tankers set on fire near Sibi

Unknown armed men set two Nato oil tankers on fire after opening fire on them at Mithri along Sibi-Jacobabad section of national highway on Saturday and fled from the scene. Official sources told that two oil tankers carrying oil for Nato forces in Afghan
Published 28 Aug, 2011 12:00am
Violence in Karachi: nationalist parties take out protest rally

Violence in Karachi: nationalist parties take out protest rally

Seven nationalist parties took out a peaceful protest rally on Saturday against bloodshed in Karachi. The activists marched from Regal Chowk to Karachi Press Club. Leaders of Labour Party Sindh, Workers Party Pakistan, Jeay Sindh Mahaz, Community Party Pa
Published 28 Aug, 2011 12:00am
Three members of LeJ arrested

Three members of LeJ arrested

Crime Investigation Department (CID) of Sindh Police on Saturday claimed to have arrested three militants of banned outfit Lashkar-e-Jhangvi (LeJ) and seized huge cache of weapons. According to official sources, a team headed by SSP Muhammad Fayyaz Khan o
Published 28 Aug, 2011 12:00am
Messi inspires Barcelona to Super Cup win

Messi inspires Barcelona to Super Cup win

Lionel Messi scored one goal and created another as Champions League winners Barcelona lifted their fourth European Super Cup trophy on Friday with a 2-0 victory over Porto who finished with nine men. An awful back pass in the 39th minute by Colombia midf
Published 28 Aug, 2011 12:00am
Kohli leads India to rain-hit Kent win

Kohli leads India to rain-hit Kent win

Virat Kohli smashed a 53-ball 78 as India defeated Kent by just five runs in a rain-hit tour match on Friday which was reduced from a 50-over clash to a 20-over game at Canterbury. Kohli hit three sixes and seven fours after proceedings were delayed by fi
Published 28 Aug, 2011 12:00am
India's star duo banned for indiscipline

India's star duo banned for indiscipline

India's top field hockey players, defender Sandeep Singh and midfielder Sardar Singh, have been banned for two years from international tournaments for indiscipline, it was announced on Saturday. The decision came after the duo, who were part of an 18-man
Published 28 Aug, 2011 12:00am
Champions Trophy: Hockey team leaves for China tomorrow

Champions Trophy: Hockey team leaves for China tomorrow

The Pakistan hockey contingent will leave on August 29 to participate in the 1st Men's Asian Champions Trophy in China from September 3-11. The Pakistan players include Imran Shah, Imran Butt, Muhammad Imran (captain), Muhammad Irfan, Syed Kashif Shah, Mu
Published 28 Aug, 2011 12:00am
Kenya sweep medals at world athletics opening day

Kenya sweep medals at world athletics opening day

Kenya's women distance runners dominated the opening day of the world championships on Saturday, remarkably snapping up all six medals on offer in the 10,000m and marathon. But there was heartbreak for household names Steve Hooker and Christine Ohuruogu i
Published 28 Aug, 2011 12:00am
Chelsea edge out Norwich, Wolves draw

Chelsea edge out Norwich, Wolves draw

Juan Mata scored on his debut for a still-stuttering Chelsea in a 3-1 home win over promoted Norwich City as the Londoners joined Wolverhampton Wanderers at the top of the Premier League on Saturday. Andre-Villas Boas's new side have failed to sparkle in
Published 28 Aug, 2011 12:00am
Controversial Tong wins world title on return

Controversial Tong wins world title on return

Olympic champion Tong Wen won a sixth world title on her controversial return to top-level competition at the Judo World Championships here on Saturday. China's Tong pinned compatriot Qin Qian in the final to secure the gold medal but was met with a mixed
Published 28 Aug, 2011 12:00am
Dollar falls

Dollar falls

The dollar fell on Friday after Federal Reserve Chairman Ben Bernanke stopped short of detailing further action to spur a flagging economy, though further losses could be limited ahead of a key US jobs report.
Published 28 Aug, 2011 12:00am
Euribor three-month rates resume climb

Euribor three-month rates resume climb

Key euro-priced bank-to-bank lending rates resumed their recent climb on Friday, as deep-seated concerns about the economic outlook outweighed downward pressure from an excess of liquidity. A worsening euro zone debt crisis and fears a recession is loomin
Published 28 Aug, 2011 12:00am
Investors cut bets on won, Singapore dollar

Investors cut bets on won, Singapore dollar

Investors halved their long positions on the South Korean won and cut bets on the Singapore dollar by almost as much, a Reuters poll showed on Friday, as worries about a global economic slowdown and the euro zone's fiscal crisis spurred a flight from risk
Published 28 Aug, 2011 12:00am
Speculators raise dollar shorts

Speculators raise dollar shorts

Currency speculators increased bets against the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $16.27 billion in the week ended August
Published 28 Aug, 2011 12:00am
Canadian dollar up after Bernanke's speech

Canadian dollar up after Bernanke's speech

The Canadian dollar ended firmer against the US currency on Friday as investors absorbed a speech by Federal Reserve Chairman Ben Bernanke that that left the door open to further stimulus measures to boost the struggling US economy. There was a mixed rece
Published 28 Aug, 2011 12:00am
Latam FX up on Fed hopes, Mexico bonds rally

Latam FX up on Fed hopes, Mexico bonds rally

Latin American currencies firmed on Friday on hopes US central bankers may provide more stimulus to the US economy, while Mexican bonds rallied after the central bank said it could cut interest rates. Ben Bernanke, chairman of the Federal Reserve, said co
Published 28 Aug, 2011 12:00am
Latam FX up on Fed hopes, Mexico bonds rally

Latam FX up on Fed hopes, Mexico bonds rally

Latin American currencies firmed on Friday on hopes US central bankers may provide more stimulus to the US economy, while Mexican bonds rallied after the central bank said it could cut interest rates. Ben Bernanke, chairman of the Federal Reserve, said co
Published 28 Aug, 2011 12:00am
African currencies outlook

African currencies outlook

Nigeria's currency is expected to strengthen against the dollar next week as energy companies begin their month-end dollar sales, while Ghana's cedi is likely to remain stable due to lower corporate demand for the greenback.
Published 28 Aug, 2011 12:00am
Wall Street posts first weekly gain in more than a month

Wall Street posts first weekly gain in more than a month

Wall Street posted its first weekly gain in more than a month as Fed Chairman Ben Bernanke raised hopes for more stimulus for the economy at the US central bank's September meeting. Initially stocks fell after Bernanke stopped short of describing detailed
Published 28 Aug, 2011 12:00am
JGB futures down

JGB futures down

Japanese government bond futures inched down on Friday, despite a rise in US Treasuries the previous day, with traders reluctant to chase prices higher ahead of a speech from Federal Reserve Chairman Ben Bernanke and before Monday's vote to choose the new
Published 28 Aug, 2011 12:00am
JGB futures down

JGB futures down

Japanese government bond futures inched down on Friday, despite a rise in US Treasuries the previous day, with traders reluctant to chase prices higher ahead of a speech from Federal Reserve Chairman Ben Bernanke and before Monday's vote to choose the new
Published 28 Aug, 2011 12:00am
Toronto's main stocks rebound

Toronto's main stocks rebound

Toronto's main stock index rebounded to end higher on Friday after a speech by Federal Reserve Chairman Ben Bernanke left the door open for further US stimulus measures next month. Bernanke stopped short of signalling more moves to boost growth during a s
Published 28 Aug, 2011 12:00am
Sri Lankan shares edge up

Sri Lankan shares edge up

Sri Lanka's stock market gained on Friday in light trading volume and turnover due to retail speculation including Singer Finance , but concerns remained over the lack of liquidity. The island nation's main share index rose 0.2 percent or 13.76 points to
Published 28 Aug, 2011 12:00am
Stocks' volatility keeps US forecasters busy

Stocks' volatility keeps US forecasters busy

Nobel Laureate Paul Samuelson is famous for saying the stock market predicted nine of the last five recessions. This joke by the first American to win the Nobel Memorial Prize in Economic Sciences is not lost on economists as they repeatedly downgrade US
Published 28 Aug, 2011 12:00am
Latam stocks rise

Latam stocks rise

Latin American stocks rose on Friday after the head of the US Federal Reserve raised some hope that US policymakers could offer more stimulus after a policy meeting next month. The MSCI Latin American stock index added 0.57 percent. The index is headed fo
Published 28 Aug, 2011 12:00am
Major government bond yield outlook slashed as economies sag

Major government bond yield outlook slashed as economies sag

Mounting evidence of worsening growth in big Western economies forced analysts to take an axe to yield forecasts for major government bonds in August, a monthly Reuters poll showed on Wednesday. Some of the downgrades were the biggest seen in a Reuters bo
Published 28 Aug, 2011 12:00am
Major government bond yield outlook slashed as economies sag

Major government bond yield outlook slashed as economies sag

Mounting evidence of worsening growth in big Western economies forced analysts to take an axe to yield forecasts for major government bonds in August, a monthly Reuters poll showed on Wednesday. Some of the downgrades were the biggest seen in a Reuters bo
Published 28 Aug, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Friday after the Federal Reserve chief left the door open for more measures to help a wobbly economy but offered no concrete plans for further monetary stimulus in a highly anticipated speech. Bond trading turned to a trickle
Published 28 Aug, 2011 12:00am
Treasuries rise

Treasuries rise

US Treasuries prices rose on Friday after the Federal Reserve chief left the door open for more measures to help a wobbly economy but offered no concrete plans for further monetary stimulus in a highly anticipated speech. Bond trading turned to a trickle
Published 28 Aug, 2011 12:00am
Indian 10-year bond yield jumps

Indian 10-year bond yield jumps

India's 10-year benchmark federal bond yield rose to its highest in a week on Friday as the central bank deputy's comments sparked expectations that a rate pause may not be imminent. All eyes were on US Fed Chairman Ben Bernanke's speech in Jackson Hole,
Published 28 Aug, 2011 12:00am
Indian 10-year bond yield jumps

Indian 10-year bond yield jumps

India's 10-year benchmark federal bond yield rose to its highest in a week on Friday as the central bank deputy's comments sparked expectations that a rate pause may not be imminent. All eyes were on US Fed Chairman Ben Bernanke's speech in Jackson Hole,
Published 28 Aug, 2011 12:00am
Egyptian court jails Orascom chairman

Egyptian court jails Orascom chairman

An Egyptian court sentenced the executive chairman of real estate and hotels firm Orascom Development to two years in jail for manipulating the firm's stock price and providing incorrect data on its finances, a judicial source said. Samih Sawiris was also
Published 28 Aug, 2011 12:00am
World Bank approves $300 million loan for Bangladesh

World Bank approves $300 million loan for Bangladesh

The World Bank has approved a 300-million-dollar loan for education in Bangladesh, the bank said Saturday. The loan was aimed at reducing school dropouts, improving teaching quality and building more infrastructure in impoverished Bangladesh, the bank sai
Published 28 Aug, 2011 12:00am
Argentine unions, bosses agree minimum wage hike

Argentine unions, bosses agree minimum wage hike

Argentina's government, unions and industry leaders reached a deal on Friday to raise the minimum wage by 25 percent less than two months from a presidential election. The minimum salary will rise to 2,300 pesos ($518) from the current 1,840 pesos a month
Published 28 Aug, 2011 12:00am
Pace of eurozone private sector loans eases: ECB

Pace of eurozone private sector loans eases: ECB

The rate of growth in private sector bank lending slowed slightly in July, the European Central Bank said Friday, which analysts took to point to risks to eurozone economic growth. Overall bank lending increased by 2.4 percent compared with the same month
Published 28 Aug, 2011 12:00am
Painkiller recalled in Britain after suspected sabotage

Painkiller recalled in Britain after suspected sabotage

The makers of painkiller Nurofen Plus have recalled the tablets in Britain after anti-psychotic and epilepsy drugs were found to have been placed in packets in acts of suspected sabotage. "Nurofen Plus is being recalled," said a statement on Friday from m
Published 28 Aug, 2011 12:00am
Russia trims 2011 growth forecast to 4.1 percent

Russia trims 2011 growth forecast to 4.1 percent

Russia's Economy Ministry has trimmed its growth forecast for 2011 to 4.1 percent from 4.2 percent against a backdrop of budgetary spending cuts and growing imports, a deputy minister told reporters on Saturday. Andrei Klepach did not rule out the possibi
Published 28 Aug, 2011 12:00am
Kazakhstan sees oil export duty flat until 2014

Kazakhstan sees oil export duty flat until 2014

Kazakhstan, the largest oil producer in Central Asia, plans to retain its crude export duty at a maximum $40 per tonne until at least 2014, Finance Minister Bolat Zhamishev said on Saturday. "The issue of raising the export tariff will not be examined wit
Published 28 Aug, 2011 12:00am
Greece's Eurobank, Alpha Bank in merger deal

Greece's Eurobank, Alpha Bank in merger deal

Greece's second and third largest banks, Eurobank and Alpha Bank, are expected to announce a merger on Monday to better face the country's recession and severe debt crisis, Greek banking sources told Reuters on Saturday. The government has been pressing b
Published 28 Aug, 2011 12:00am
ECB bond buying must be temporary: OECD economist

ECB bond buying must be temporary: OECD economist

The European Central Bank's buying of Italian and Spanish state bonds can only be a temporary measure and must be linked to long-term economic reforms, a leading economist said on Saturday. In an interview in Italian daily Il Sole 24 Ore, Pier Carlo Padoa
Published 28 Aug, 2011 12:00am
ECB bond buying must be temporary: OECD economist

ECB bond buying must be temporary: OECD economist

The European Central Bank's buying of Italian and Spanish state bonds can only be a temporary measure and must be linked to long-term economic reforms, a leading economist said on Saturday. In an interview in Italian daily Il Sole 24 Ore, Pier Carlo Padoa
Published 28 Aug, 2011 12:00am
Fed, other regulators need policing: economist

Fed, other regulators need policing: economist

Global financial regulators are likely to impede growth rather than foster it unless they are better policed, an economist warned policymakers on Saturday. While regulatory reform since the 2007-09 financial crisis has given added clout to government regu
Published 28 Aug, 2011 12:00am
World economy may see seven lean years: German finance minister

World economy may see seven lean years: German finance minister

German Finance Minister Wolfgang Schaeuble said the global economy may see "seven lean years" as a result of needed fiscal consolidation programmes, even as top US economists questioned the effectiveness of austerity measures. In a speech at a meeting of
Published 28 Aug, 2011 12:00am
One million Apple shares for new CEO

One million Apple shares for new CEO

Apple's new chief executive Tim Cook has been awarded one million shares in the company, a bonus worth more than $383 million at the current stock price. Apple disclosed the award in a mandatory filing with the US Securities and Exchange Commission.
Published 28 Aug, 2011 12:00am
Bank of America may sell CCB shares by next week

Bank of America may sell CCB shares by next week

The Bank of America is "completing plans" to sell over half of its shares in the China Construction Bank, with a group of Asian and Middle Eastern sovereign wealth funds negotiating to buy, the New York Times reported on Saturday. The report, citing two u
Published 28 Aug, 2011 12:00am
Turkish Airlines posts loss

Turkish Airlines posts loss

Turkish Airlines posted a net loss of 220.6 million Turkish lira ($126 million)in the second quarter, much steeper than a consensus forecast, and despite an increase in sales of 34 percent as weakness in the Turkish currency weighed. The fast-expanding ai
Published 28 Aug, 2011 12:00am
Turkish Airlines posts loss

Turkish Airlines posts loss

Turkish Airlines posted a net loss of 220.6 million Turkish lira ($126 million)in the second quarter, much steeper than a consensus forecast, and despite an increase in sales of 34 percent as weakness in the Turkish currency weighed. The fast-expanding ai
Published 28 Aug, 2011 12:00am
Google TV to launch in Europe next year

Google TV to launch in Europe next year

Google Inc will launch its TV service in Europe early next year, Executive Chairman Eric Schmidt said on Friday, despite teething problems that had led some observers to question how committed the company would remain to the project.
Published 28 Aug, 2011 12:00am
Karachi Port's and Port Qasim's activities

Karachi Port's and Port Qasim's activities

The Karachi Port handled 76,916 tonnes of cargo including 68,835 tonnes of import cargo, 8,081 tonnes of export cargo and 2,097 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 68,835 tonnes compris
Published 28 Aug, 2011 12:00am
Thin business on grain market

Thin business on grain market

Lean business was seen on the wholesale grain market on Saturday as buyers kept to the sidelines due to lack of interest, dealers said. On the seed side cottonseed oilcake with bag Sindh low type gained Rs 10 to Rs 1160 and good type, however, shed the sa
Published 28 Aug, 2011 12:00am
Brazil's Santos port sees more strong growth

Brazil's Santos port sees more strong growth

Brazil's dominance on world commodities markets over the centuries was built on the flow of ships through Santos, which is expected to triple movement of cargo over the next 15 years as it has over the past 20, the port authority said. Latin America's lar
Published 28 Aug, 2011 12:00am
Guar seed sowing in key Indian state may not match 2010

Guar seed sowing in key Indian state may not match 2010

Acreage sown to guar seed in Rajasthan, India's biggest producer, may still trail 2010's record despite a fillip from rains last week, a state farm department official said on Friday, and heavy rains to come could hit crop growth. As on Tuesday, the area
Published 28 Aug, 2011 12:00am
Drought continues in China's top sugar region

Drought continues in China's top sugar region

Showers earlier this week failed to end lingering drought in China's top sugar region of Guangxi, which produces about 60 percent of the country's total sugar output, local agriculture officials said on Friday. "We have some rains, but only in parts of th
Published 28 Aug, 2011 12:00am
Grain export premiums steady at US Gulf Coast

Grain export premiums steady at US Gulf Coast

Export premiums for corn, soyabeans and wheat held mostly steady at the US Gulf Coast on Friday as rally in the futures market chilled the already lacklustre demand for the commodities, traders said. Importers have slowed purchases in recent weeks, waitin
Published 28 Aug, 2011 12:00am
Argentine wheat healthy; more rains needed: government

Argentine wheat healthy; more rains needed: government

Argentine 2011/12 wheat is in good shape though some areas need more rain in order to guarantee healthy crop development, the Agriculture Ministry said on Friday in a weekly report. Argentina, a leading global wheat exporter, has yet to forecast productio
Published 28 Aug, 2011 12:00am
Ireland eyes mortgage debt restructuring

Ireland eyes mortgage debt restructuring

The Irish government does not have the resources to fund a significant debt forgiveness programme for troubled mortgage holders and will likely bring in legislation to restructure the debt instead, a junior minister said on Monday. Ireland's ruling coalit
Published 28 Aug, 2011 12:00am
Finnish Prime Minister urges swift decision on Greece collateral

Finnish Prime Minister urges swift decision on Greece collateral

A dispute over a model for collateral from Greece in exchange for loans has to be solved as quickly as possible to prevent more inconvenience to Athens and other countries, the Finnish prime minister was quoted as saying on Saturday. Finland is standing b
Published 28 Aug, 2011 12:00am
China studies energy cap plan for local governments

China studies energy cap plan for local governments

China, the world's largest energy user, is studying how to enforce a total cap on energy consumption by setting targets for local governments, the Xinhua news agency said, citing a government report. China is the world's biggest emitter of greenhouse gase
Published 28 Aug, 2011 12:00am
Saab to seek court protection from creditors

Saab to seek court protection from creditors

Troubled Swedish carmaker Saab, owned by Dutch group Swedish Automobile NV, is to apply for court protection from its creditors, public radio quoted sources as saying on Friday. Amsterdam-listed Swedish Automobile said in a statement on Friday it was awar
Published 28 Aug, 2011 12:00am
Adidas expects 650 million euro profit in 2011

Adidas expects 650 million euro profit in 2011

Germany's Adidas expects to make around 650 million euros ($933 million) net profit this year, with consumers snapping up sporting goods despite a rainy summer and uncertain economic outlook, its chief financial officer told a newspaper. Adidas, the world
Published 28 Aug, 2011 12:00am
Adidas expects 650 million euro profit in 2011

Adidas expects 650 million euro profit in 2011

Germany's Adidas expects to make around 650 million euros ($933 million) net profit this year, with consumers snapping up sporting goods despite a rainy summer and uncertain economic outlook, its chief financial officer told a newspaper. Adidas, the world
Published 28 Aug, 2011 12:00am
Enhanced activity seen on cotton market as ginners lower selling prices

Enhanced activity seen on cotton market as ginners lower selling prices

Trading activity improved on the cotton market on Saturday as increase in phutti arrivals forced the ginners to lower prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6000, they said. The prices of seedcott
Published 28 Aug, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was higher while the January vaida was unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The December contract that had ended at Rs 1313.60 commenced with a gain of 20 paisa to Rs 1313.8
Published 28 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 28 Aug, 2011 12:00am
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