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Archive - 2011-09-09
Brazil declares flood emergency
World

Brazil declares flood emergency

RIO DE JANEIRO: Brazilian authorities have declared a state of emergency in 10 municipalities in the southern Santa Cata
Published 09 Sep, 2011 09:36am
Malaysia exports up 7.1pc in July
Top News

Malaysia exports up 7.1pc in July

KUALA LUMPUR: Malaysia said on Friday its exports, the mainstay of the country's economy, increased 7.1 percent year-on-
Published 09 Sep, 2011 07:59am
Key points of Obama's jobs plan
Top News

Key points of Obama's jobs plan

WASHINGTON: Here are key points of President Barack Obama's new $447 billion plan to generate more jobs for Americans an
Published 09 Sep, 2011 05:21am
PTCLs margins shrink
BR Research

PTCLs margins shrink

For Pakistan Telecom-munication Company Limited (PTCL), FY11 was another year marked by a slowdown in revenues. Struggling to arrest the dec
Published 09 Sep, 2011 12:00am
9/11: Ten years on!
BR Research

9/11: Ten years on!

A decade ago, few could have thought that 19 little known Arabs could change the world as they did? Those 19 hijackers weren only responsib
Published 09 Sep, 2011 12:00am
Hub Power Company
BR Research

Hub Power Company

The Hub Power Company (Hubco) announced its full year financial results for FY11 registering meagre profitability growth without much surpri
Published 09 Sep, 2011 12:00am
US, Pakistani efforts degraded al Qaeda, says White House

US, Pakistani efforts degraded al Qaeda, says White House

As a result of US and Pakistani efforts al Qaeda has been "significantly" degraded in the tribal regions along Pak-Afghan border, White House Chief Counteretrrorism Adviser John Brennan said, while recognising the importance of Islamabad's recent arrest o
Published 09 Sep, 2011 12:00am
Town administrations fail to drain out rainwater

Town administrations fail to drain out rainwater

Despite passage of four days of torrential rains in the city the administrations of various towns have failed to drain out the rainwater accumulated on streets in various localities. The main reason behind the situation is small nullahs and sewerage lines
Published 09 Sep, 2011 12:00am
Finland to support Pakistan in EU

Finland to support Pakistan in EU

Bilateral consultations were held between Pakistan and Finland here on Thursday. The Finnish side was led by Jaakko Laajava, Under Secretary of State of the Republic of Finland and the Pakistan side by Abdul Basit, Additional Secretary (Europe & FODP). Th
Published 09 Sep, 2011 12:00am
UBL Funds announces phone banking facility

UBL Funds announces phone banking facility

UBL Fund Managers in collaboration with its parent company, United Bank Limited has introduced the facility of investing in their schemes through UBL's Phone Banking service.
Published 09 Sep, 2011 12:00am
UBL Funds announces phone banking facility

UBL Funds announces phone banking facility

UBL Fund Managers in collaboration with its parent company, United Bank Limited has introduced the facility of investing in their schemes through UBL's Phone Banking service.
Published 09 Sep, 2011 12:00am
Fed to help restore strong growth: Bernanke

Fed to help restore strong growth: Bernanke

Federal Reserve Chairman Ben Bernanke on Thursday said the US central bank would spare no effort to boost disappointingly weak growth and lower unemployment, and he downplayed concerns about inflation. While the Fed chairman did little to disturb expectat
Published 09 Sep, 2011 12:00am
BoE keeps rates steady

BoE keeps rates steady

Britain's central bank left interest rates at a record low 0.5 percent for the 30th straight month on Thursday, leaving open the possibility that it may restart its quantitative easing programme should the economy weaken further. The Bank of England issue
Published 09 Sep, 2011 12:00am
BoE keeps rates steady

BoE keeps rates steady

Britain's central bank left interest rates at a record low 0.5 percent for the 30th straight month on Thursday, leaving open the possibility that it may restart its quantitative easing programme should the economy weaken further. The Bank of England issue
Published 09 Sep, 2011 12:00am
BoE keeps rates steady

BoE keeps rates steady

Britain''s central bank left interest rates at a record low 0.5 percent for the 30th straight month on Thursday, leaving open the possibility that it may restart its quantitative easing programme should the economy weaken further. The Bank of England issu
Published 09 Sep, 2011 12:00am
German trade surplus at lowest since January 2010

German trade surplus at lowest since January 2010

Germany's trade surplus narrowed in July to its lowest level in 18 months on a stronger-than-expected drop in exports, adding to signs a global slowdown is weighing on Europe's bulwark economy. Imports also fell unexpectedly, data from the Federal Statist
Published 09 Sep, 2011 12:00am
ECB signals rates on hold, sees slow growth

ECB signals rates on hold, sees slow growth

The European Central Bank signalled on Thursday that it had halted a cycle of interest rate rises begun just five months ago, saying eurozone inflation risks were no longer skewed to the upside and economic growth would be slow at best. The European Centr
Published 09 Sep, 2011 12:00am
ECB signals rates on hold, sees slow growth

ECB signals rates on hold, sees slow growth

The European Central Bank signalled on Thursday that it had halted a cycle of interest rate rises begun just five months ago, saying eurozone inflation risks were no longer skewed to the upside and economic growth would be slow at best. The European Centr
Published 09 Sep, 2011 12:00am
ECB signals rates on hold, sees slow growth

ECB signals rates on hold, sees slow growth

The European Central Bank signalled on Thursday that it had halted a cycle of interest rate rises begun just five months ago, saying eurozone inflation risks were no longer skewed to the upside and economic growth would be slow at best. The European Centr
Published 09 Sep, 2011 12:00am
Microsoft and Acer in patent license agreement

Microsoft and Acer in patent license agreement

Microsoft said Thursday it has reached a patent license agreement with Acer, Taiwan's leading computer maker, that will cover tablet computers and smartphones powered by Google's Android platform.
Published 09 Sep, 2011 12:00am
Japan's machinery orders slump

Japan's machinery orders slump

Japan's core machinery orders tumbled twice as much as expected in July in a sign that companies are delaying investment due to worries about the strong yen, faltering global growth and slow progress in rebuilding from the March earthquake and tsunami.
Published 09 Sep, 2011 12:00am
Geithner urges global action to boost growth

Geithner urges global action to boost growth

US Treasury Secretary Timothy Geithner on Thursday called on global finance chiefs to boost growth but said a repeat of the massive co-ordinated fiscal stimulus efforts of 2009 was no longer possible.
Published 09 Sep, 2011 12:00am
Global tourism hits new record

Global tourism hits new record

International tourism grew by almost five percent in the first half of the year, recording a record 440 million arrivals, the World Tourism Organisation said Thursday. The results show that "in spite of multiple challenges, international tourism continues
Published 09 Sep, 2011 12:00am
Export spike hints at firmer US growth, weak jobs

Export spike hints at firmer US growth, weak jobs

The US economy may be stumbling, but it is still standing. That was the message from two economic reports that pointed to a weak labour market but also a better performance on trade that should boost third-quarter gross domestic product. The number of Ame
Published 09 Sep, 2011 12:00am
OECD sees threat of recession, worse eurozone crisis

OECD sees threat of recession, worse eurozone crisis

A new recession stalks some rich countries and the eurozone crisis could deepen, the OECD warned on Thursday urging most central banks not to raise, and maybe to cut, interest rates. The OECD insisted on the urgency for the eurozone to apply rescue action
Published 09 Sep, 2011 12:00am
Greek backsliding sparks euro exit talk

Greek backsliding sparks euro exit talk

Anger at Greece's failure to meet fiscal targets that are a condition for its international bailout is nearing breaking point in Germany and the Netherlands, with senior politicians talking openly about a possible Greek exit from the eurozone. German Fina
Published 09 Sep, 2011 12:00am
Greek GDP shrinks

Greek GDP shrinks

The Greek economy remained deep in recession in the second quarter, data showed on Thursday, highlighting the pain the country is suffering from austerity measures and its failure to implement growth-boosting reforms. Gross domestic product contracted at
Published 09 Sep, 2011 12:00am
HUBCO profit after tax increases

HUBCO profit after tax increases

The profit after tax (consolidated) of Hub Power Company (HUBCO) has increased to Rs 5.545 billion in year ended June 30, 2011 (FY11) as compared to Rs 5.468 billion earned in FY10. The company's earning per share has increased to Rs 4.81 in the period un
Published 09 Sep, 2011 12:00am
HUBCO profit after tax increases

HUBCO profit after tax increases

The profit after tax (consolidated) of Hub Power Company (HUBCO) has increased to Rs 5.545 billion in year ended June 30, 2011 (FY11) as compared to Rs 5.468 billion earned in FY10. The company's earning per share has increased to Rs 4.81 in the period un
Published 09 Sep, 2011 12:00am
Dawood Capital Management rating upgraded

Dawood Capital Management rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of Dawood Capital Management Limited (DCML) to 'AM3-' (AM Three Minus) [Previous: AM4+]. The rating denotes high investment management industry standards and benchmarks.
Published 09 Sep, 2011 12:00am
Dawood Capital Management rating upgraded

Dawood Capital Management rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of Dawood Capital Management Limited (DCML) to 'AM3-' (AM Three Minus) [Previous: AM4+]. The rating denotes high investment management industry standards and benchmarks.
Published 09 Sep, 2011 12:00am
Attock Refinery's entity ratings maintained

Attock Refinery's entity ratings maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and the short-term entity ratings of Attock Refinery Limited (ARL) at 'AA' (Double A) and 'A1+' (A One Plus), respectively. These ratings denote a very low expectation of credit risk e
Published 09 Sep, 2011 12:00am
Second LadiesFund Entrepreneurship Conference on September 16

Second LadiesFund Entrepreneurship Conference on September 16

The 2nd LadiesFund Entrepreneurship Conference (LEC), 2011 is going to be held on September 16 in Karachi. This was stated by Tara Uzra Dawood, CEO, Dawood Capital Management, Ltd, manager of LadiesFund at a press conference held at a local hotel here on
Published 09 Sep, 2011 12:00am
Second LadiesFund Entrepreneurship Conference on September 16

Second LadiesFund Entrepreneurship Conference on September 16

The 2nd LadiesFund Entrepreneurship Conference (LEC), 2011 is going to be held on September 16 in Karachi. This was stated by Tara Uzra Dawood, CEO, Dawood Capital Management, Ltd, manager of LadiesFund at a press conference held at a local hotel here on
Published 09 Sep, 2011 12:00am
Khyber Agency: Japan grants $88,175 for construction of school

Khyber Agency: Japan grants $88,175 for construction of school

The Government of Japan has decided to extend financial support of US $88,175 (approximately rupees 7.4 million) to the Learning Awareness and Motivation Programme (LAMP) for Construction of Primary School in Raziq Kalay, Khyber Agency, Fata. The agreemen
Published 09 Sep, 2011 12:00am
FAFEN report 20 percent of monthly FIRs relate to car-lifting, robberies

FAFEN report 20 percent of monthly FIRs relate to car-lifting, robberies

Around one-fifth of the FIRs registered in 66 districts across the country in June 2011 were about theft, car-lifting, robberies and dacoities, said a crime monitoring report issued by FAFEN. The report said out of the total 39,497 registered FIRs, 7,204
Published 09 Sep, 2011 12:00am
Government help sought for Bin Qasim Industrial Zone

Government help sought for Bin Qasim Industrial Zone

The business community has sought government's attention towards Bin Qasim Industrial Zone, which has potential to become model industrial zone in the country, a statement said on other day.
Published 09 Sep, 2011 12:00am
PPAF starts relief activities in Badin

PPAF starts relief activities in Badin

Pakistan Poverty Alleviation Fund (PPAF) has allocated rupees 258 million and started relief operations to help 400,000 displaced individuals, badly ravaged by the raging rainwater, in 14 union councils of district Badin.
Published 09 Sep, 2011 12:00am
KESC advises workers, citizens against rain related hazards

KESC advises workers, citizens against rain related hazards

Karachi Electric Supply Company (KESC) has alerted the citizens against rain-related hazards and risks in the backdrop of the forecast of further heavy downpour. The general public has been advised to keep away from fallen, broken, unsafe and wet wires, p
Published 09 Sep, 2011 12:00am
Rise in mangroves logging disturbs local fishermen

Rise in mangroves logging disturbs local fishermen

Rise in the mangroves logging has disturbed the local fishermen community of Keamari as their fears met a cold response from the concerned authorities to protect the marine forest shield near the tiny islands. "We have requested the authorities to protect
Published 09 Sep, 2011 12:00am
Speakers discuss challenges in setting up data centres

Speakers discuss challenges in setting up data centres

Speakers at the first ever international conference on "Data Centre 2011" discussed the challenges in setting up data centres and their resolutions. They also discussed different models to resolve the issues relating to critical power, cooling and energy
Published 09 Sep, 2011 12:00am
Fifth SME conference

Fifth SME conference

The fifth SME Conference 2011 will be held on 6th October 2011 at a local hotel in Gujranwala. This is the fifth forum in a series of annual SME Conferences being organised by SHAMROCK Conferences International and this year's theme would be "The Mandate
Published 09 Sep, 2011 12:00am
Fumigation completed in 43 colleges, 650 schools

Fumigation completed in 43 colleges, 650 schools

Provincial Minister for Education, Mujtaba Shuja-ur-Rehman has said fumigation spray in 33 out of 43 colleges and 650 schools has also been completed. Secretary Schools, Additional Secretary Higher Education, Director Colleges, EDOs, DEOs, and DDEOs were
Published 09 Sep, 2011 12:00am
CPSP's specialist doctors to serve Saudi Arabia

CPSP's specialist doctors to serve Saudi Arabia

Pakistani specialist doctors will render their services in Saudi Arabia for three months in a very facilitating environment against considerable remuneration according to an agreement between CPSP and Saudi Health Council. This was said by the College of
Published 09 Sep, 2011 12:00am
Markets to observe weekly off on Friday

Markets to observe weekly off on Friday

Traders Association of Timergara has decided that all major markets and shops of the district will observe on Friday as weekly off. The decision was taken unanimously at a meeting held here on Thursday. The shopkeepers warned violators of stern action whi
Published 09 Sep, 2011 12:00am
Industrialists, exporters reject power tariff raise

Industrialists, exporters reject power tariff raise

Industrialists and exporters have expressed grave concern over the fresh increase in electricity bills through the imposition of rupees 2.04 per unit as fuel adjustment charges and feared that this increase would yield negative impact over the national pr
Published 09 Sep, 2011 12:00am
'Additional resources being provided to control dengue virus'

'Additional resources being provided to control dengue virus'

Secretary Local Government Punjab Khizer Hayat Gondal has said the Punjab government is providing additional resources to the district administration and concerned departments to stop spread of dengue virus. He was presiding over a meeting on Thursday at
Published 09 Sep, 2011 12:00am
Power tariff raise termed unjustified

Power tariff raise termed unjustified

Jamaat-e-Islami chief, Syed Munawar Hasan, has strongly condemned the fresh raise in the power tariff and termed it totally unjustified. He said that rupees 2.04 per unit increase in the power tariff is unbearable for the masses and would result in a floo
Published 09 Sep, 2011 12:00am
International coin exhibition from September 27

International coin exhibition from September 27

The Directorate of Archaeology and Museums, Khyber-Pakhtunkhwa, in collaboration with Tourism Corporation is going to hold a first-ever four-day International historic coin exhibition from 27th September at Gor Khutree Archaeological complex.
Published 09 Sep, 2011 12:00am
PIAF flays government's power tariff raise

PIAF flays government's power tariff raise

The PIAF-Founders Alliance has strongly criticised Rs 2.04 increase in the electricity tariff and urged the government to withdraw the raise in the larger interest of trade and industry, which are already facing multiple internal and external challenges.
Published 09 Sep, 2011 12:00am
Workshop on Promoting Gender Responsive Practice at Workplace

Workshop on Promoting Gender Responsive Practice at Workplace

A two-day training programme on Promoting Gender Responsive Practice at Workplace organised by Employers Federation of Pakistan in collaboration with International Labour Organisation (ILO) with the support of Sialkot Chamber of Commerce and Industry has
Published 09 Sep, 2011 12:00am
International Literacy Day observed

International Literacy Day observed

International Literacy Day was observed on Thursday highlighting the theme 'literacy and peace' that focuses on world-wide literacy needs. School, colleges, universities, educational departments and organisations in Multan arranged different activities hi
Published 09 Sep, 2011 12:00am
A bolt from the blue

A bolt from the blue

Recent heavy rains in Pakistan, particularly in Sindh, and consequent flooding in large parts of the country is definitely an unmitigated disaster, likely to affect both the economy and the welfare of people. The extent of damage could be partly gauged fr
Published 09 Sep, 2011 12:00am
FC under attack

FC under attack

It would be utterly inhuman to admire the terrorists' resilience in facing the decade-long punishing campaign, but the fact cannot be denied that they have survived, even prospered. And the proof is their murderous attack on the residence of the Frontier
Published 09 Sep, 2011 12:00am
10th anniversary of 9/11: curbing and uprooting terrorism

10th anniversary of 9/11: curbing and uprooting terrorism

The tragedy that struck the world ten years ago - wanton attacks on the twin towers of the World Trade Centre by terrorists on 11 September 2011 in New York - is still haunting humanity. The world as a whole since then suffers from what Erich Fromm termed
Published 09 Sep, 2011 12:00am
An artist's view of the world of crime - II

An artist's view of the world of crime - II

The Cobra team was gaining success in destroying the cocaine shipments from Colombia. Either the shipments were being seized or manoeuvred to be delivered at the wrong places. In another event, the daughter of Roberto Cardenas (a board member of the carte
Published 09 Sep, 2011 12:00am
Freedom with responsibility

Freedom with responsibility

John Wilkes, the pioneer of media freedom in UK during the 18th century writing in the first issue of his newspaper "North Britain" on June 5, 1762 declared "The liberty of the press is the bright light of Briton and is justly esteemed as the foremost bul
Published 09 Sep, 2011 12:00am
Island Textile Mills Ltd

Island Textile Mills Ltd

Among textile firms listed on the country's stock exchanges, Island Textile Mills Limited is in a class by itself in many respects. Its paid-up capital has remained at Rs 5 million with just half a million shares of Rs 10 each.
Published 09 Sep, 2011 12:00am
Scout Association gets new secretary

Scout Association gets new secretary

Sindh Governor Dr Ishrat-ul-Ebad Khan has nominated senior scout leader Syed Akhter Mir as the Secretary, Sindh Boys Scout Association (SBSA) for 2011-2014. The nomination has been made on basis of recommendation forwarded by selection committee comprisin
Published 09 Sep, 2011 12:00am
Import of textile machinery declines

Import of textile machinery declines

Import of textile machinery declined by 42 percent during the first month of the current year as compared to the same period of last year, persistently inflating cost of doing business which is denting the sector's performance badly in the country. Inform
Published 09 Sep, 2011 12:00am
SPSC results announced

SPSC results announced

Sindh Public Service Commission, Hyderabad has announced the result of pre-interview written test which was conducted in the month of April 2011 for recruitment to the posts of lecturer/instructor - English (male/female) and Computer Science (male/female)
Published 09 Sep, 2011 12:00am
Two dacoit gangs busted; 10 held

Two dacoit gangs busted; 10 held

Two dacoit gangs were busted and nabbed ten persons for their alleged involvement in robbery, drug pushing, possessing illegal arms, recovering one pistol, gold ornaments worth Rs 700,000, laptops, mobile phones, drugs and other commodities were recovered
Published 09 Sep, 2011 12:00am
Terrorist suspects sent money to Afghanistan, Pakistan: Kazakhstan

Terrorist suspects sent money to Afghanistan, Pakistan: Kazakhstan

Kazakhstan officials on Thursday said that members of an alleged extremist group currently in detention regularly sent money to Pakistan and Afghanistan. Some of 24 men arrested in late August on suspicion of planning terrorist acts had collected and tran
Published 09 Sep, 2011 12:00am
'Green initiative': Ufone plants trees at IMCG

'Green initiative': Ufone plants trees at IMCG

In continuation of Ufone's 'green initiative', Ufone Volunteer Group (UVG) visited Islamabad Model College for Girls (IMCG) and planted trees to help provide a healthier environment within the facility which covers an area close to two acres.
Published 09 Sep, 2011 12:00am
Pakistan to miss cotton production target due to floods

Pakistan to miss cotton production target due to floods

Pakistan is likely to miss the cotton production target by 2-2.5 million bales against the set target of 15 million bales, due to heavy rains which caused flooding in the cotton growing belt of Sindh province, officials said. They said that the government
Published 09 Sep, 2011 12:00am
Pakistan, Iran underscore regional connectivity

Pakistan, Iran underscore regional connectivity

Foreign Minister Hina Rabbani Khar received the Iranian Foreign Minister Dr Ali Akber Salehi here on Thursday. The Iranian Foreign Minister is on a two days' visit to Islamabad to lead the Iranian delegation to the 18th Session of the Pakistan-Iran Joint
Published 09 Sep, 2011 12:00am
US MIDDAY: gold moves up

US MIDDAY: gold moves up

Gold rose 2 percent on Thursday, almost erasing the steep losses of the previous day, after the European Central Bank extended investors' gloomy view of the region, ahead of key speeches on the US economy. Federal Reserve chairman Ben Bernanke will delive
Published 09 Sep, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper ended higher in choppy trade on Thursday as tight supplies underpinned values and a better performance on US trade buoyed third-quarter growth prospects in the world's largest economy. In New York, the key December COMEX contract rose 1.15 cents to
Published 09 Sep, 2011 12:00am
US MIDDAY: wheat plunges

US MIDDAY: wheat plunges

US wheat futures fell 2 percent early on Thursday as India's announcement that it will allow 2 million tonnes of wheat to be exported threatened to further weaken export prospects for the US grain, traders said. The front-month Chicago Board of Trade whea
Published 09 Sep, 2011 12:00am
Gold gains two percent in Europe

Gold gains two percent in Europe

Gold rose by 2 percent on Thursday, almost erasing the steep losses of the previous day, after the European Central Bank fanned investor concern over growth by saying the eurozone economy had worsened enough to warrant a shift in monetary policy.
Published 09 Sep, 2011 12:00am
Gold rebounds in Asia

Gold rebounds in Asia

Gold prices bounced back more than 1 percent on Thursday, boosted by bargain-hunters after the previous session's fall of 3 percent, ahead of a speech by US President Barack Obama that could allay recession fears. Gold prices dipped to below $1,800 in the
Published 09 Sep, 2011 12:00am
US gold ends three percent down

US gold ends three percent down

Gold closed 3 percent lower on Wednesday as investors sold the precious metal and bought stocks after a German court declined to block Germany's participation in euro zone bailouts. Both the spot price of gold and US gold futures fell below $1,800 an ounc
Published 09 Sep, 2011 12:00am
Cocoa extends losses, sugar rebounds

Cocoa extends losses, sugar rebounds

Cocoa futures racked up their biggest three-day tumble in four months by Thursday as the market absorbed a large global surplus, while raw sugar climbed. Arabica coffee futures were also lower in an inside session, pressured by light profit-taking as the
Published 09 Sep, 2011 12:00am
US grain futures sag

US grain futures sag

US grain futures sagged on Wednesday after an early rally fizzled out even as the stock market and oil futures surged, with wheat slipping 1 percent on bigger-than-expected supplies in Canada. Corn futures, which rose early to extend overnight gains after
Published 09 Sep, 2011 12:00am
Malaysian palm oil futures slip

Malaysian palm oil futures slip

Malaysian palm oil futures fell on Thursday in tandem with other vegetable oil markets as investors booked some profits although the tropical oil's deepening discount to competing soyoil limited losses. Vegetable oil markets are likely to make little hea
Published 09 Sep, 2011 12:00am
Tokyo rubber higher; Shanghai slips

Tokyo rubber higher; Shanghai slips

Tokyo rubber futures were higher on Thursday, supported by firm oil prices but upside was still capped by profit-taking, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for February delivery rose 3.8 yen to settle at 369.9 yen
Published 09 Sep, 2011 12:00am
Brent, US crude fall

Brent, US crude fall

Crude oil futures fell in choppy trading on Thursday, following Wall Street lower after the US Federal Reserve Chief gave a speech that lacked new steps to spur economic growth, and as the dollar rose sharply. In early trade, oil dipped on data showing ma
Published 09 Sep, 2011 12:00am
Copper up in choppy trade

Copper up in choppy trade

Copper rose in choppy trade on Thursday as concerns about tight metal supplies and a better performance on US trade outweighed a weak labour market and a warning by the European Central Bank (ECB) that eurozone growth would be slow. New US jobless claims
Published 09 Sep, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Copper prices edged down on Thursday, tracking a downturn in Asian equities and the euro, as worries about the eurozone debt crisis and a faltering US economy undermined confidence. The most-active November copper contract on the Shanghai Futures Exchange
Published 09 Sep, 2011 12:00am
US copper rises

US copper rises

Copper closed nearly 2-percent higher on Wednesday to snap a four-day losing streak, lifted by higher global equity markets and festering labour disputes at some high-level mines. In New York, the key December COMEX contract climbed 7.60 cents or 1.9 perc
Published 09 Sep, 2011 12:00am
New York cotton settles at two-month high

New York cotton settles at two-month high

Cotton futures ended Thursday at a fresh two-month high on follow-through investor buying although profit-taking pruned the market's gains, analysts said. The key December cotton contract on ICE Futures US rose 3.29 cents, or almost 3 percent, to end at $
Published 09 Sep, 2011 12:00am
Iran ups criticism of Turkey over Nato missile shield

Iran ups criticism of Turkey over Nato missile shield

Iran toughened Thursday its criticism of Turkey over its plan to host an early-warning radar as part of Nato's missile defence system, saying it will create tension and lead to "complicated consequences." "We expect friendly countries and neighbours not t
Published 09 Sep, 2011 12:00am
Turkish minister predicts farmers will punish Israel

Turkish minister predicts farmers will punish Israel

Turkish farmers will punish Israel for the Jewish state's refusal to apologise for a deadly 2010 flotilla raid, Turkey's agriculture minister said Thursday, according to the Anatolia news agency. Agriculture Minister Mehdi Eker predicted that "farmers, ex
Published 09 Sep, 2011 12:00am
Palestinians launch campaign to support UN membership bid

Palestinians launch campaign to support UN membership bid

The Palestinians on Thursday launched a campaign in support of their UN membership bid, as their leaders met to reaffirm plans to become the world body's 194th member state. The so-called "National Campaign for Palestine: State 194" is part of the build-u
Published 09 Sep, 2011 12:00am
Heavy rains flood saturated US northeast, three dead

Heavy rains flood saturated US northeast, three dead

Heavy rains have swamped areas of the US northeast already sodden by last week's Hurricane Irene, causing flash floods linked to at least three deaths and forcing thousands to evacuate, officials said Thursday. The National Weather Service issued a flash
Published 09 Sep, 2011 12:00am
South Korea says open to summit with North

South Korea says open to summit with North

South Korean President Lee Myung-Bak said Thursday he is open to a summit with North Korean leader Kim Jong-Il, but the North should first show it is committed to peace. "I may or may not hold an inter-Korean summit during my term," Lee said during a nati
Published 09 Sep, 2011 12:00am
Iraqi prisoner death 'great stain' on UK army: inquiry

Iraqi prisoner death 'great stain' on UK army: inquiry

British soldiers beat to death an Iraqi civilian in an act of unjustified violence that left a "very great stain" on Britain's armed forces, an inquiry concluded on Thursday. Former judge William Gage, who led the three-year investigation, said senior off
Published 09 Sep, 2011 12:00am
Libya plans shake-up of oil sector

Libya plans shake-up of oil sector

Libya's interim government is drafting a proposal that would shrink the responsibilities of the National Oil Corp (NOC) to make it a purely commercial organisation, a member of the interim government has told Reuters.
Published 09 Sep, 2011 12:00am
US sanctions four Venezuelan officials as drug traffickers

US sanctions four Venezuelan officials as drug traffickers

The United States on Thursday listed a Venezuelan general, two politicians and an intelligence official as drug traffickers subject to sanctions. The US Treasury Department added the names of Major General Cliver Alcala, ruling party lawmaker Freddy Berna
Published 09 Sep, 2011 12:00am
Qadhafi vows to keep fighting

Qadhafi vows to keep fighting

The voice of Muammar Qadhafi boomed out from his hiding place on Thursday, denying he had fled Libya and cursing as rats and stray dogs those whose efforts to start governing in his place are being frustrated by his die-hard followers. "We will not leave
Published 09 Sep, 2011 12:00am
ICC prosecutor asks Interpol to help seek Qadhafi's arrest

ICC prosecutor asks Interpol to help seek Qadhafi's arrest

War crimes court prosecutor Luis Moreno-Ocampo has asked Interpol to help with the arrest of fugitive former Libyan leader Moamer Qadhafi for crimes against humanity, his office said Thursday. The prosecutor is also requesting so-called red notices for th
Published 09 Sep, 2011 12:00am
Nato soldier shoots dead BBC reporter in Afghanistan

Nato soldier shoots dead BBC reporter in Afghanistan

The Nato-led International Security Assistance Force on Thursday that admitted one of its soldiers shot dead a local journalist working for the BBC in Afghanistan in July. The alliance said the soldier mistook 25-year-old Ahmed Omed Khpulwak for an insurg
Published 09 Sep, 2011 12:00am
Nigerian president sacks counter-terrorism chief

Nigerian president sacks counter-terrorism chief

Nigerian President Goodluck Jonathan has sacked his special adviser on counter-terrorism, two weeks after a car bomber killed 23 people at the UN's Nigeria headquarters, a presidential spokesman said on Thursday. Spokesman Reuben Abati would not give deta
Published 09 Sep, 2011 12:00am
China's suicide rate 'among highest in the world'

China's suicide rate 'among highest in the world'

A person tries to kill themselves in China every two minutes, the government and state media said Thursday, giving the country one of the highest suicide rates in the world. China's suicide rate is 22.23 people out of every 100,000, the Centre for Disease
Published 09 Sep, 2011 12:00am
UN atom safety plan to win backing despite criticism

UN atom safety plan to win backing despite criticism

The UN atomic agency's 35-nation governing board is expected next week to endorse steps to boost global nuclear safety in the wake of Japan's Fukushima crisis, even though some disappointed diplomats say the proposals have been watered down. Japan's react
Published 09 Sep, 2011 12:00am
Pakistan take 1-0 lead over Zimbabwe

Pakistan take 1-0 lead over Zimbabwe

Pakistan scrambled a five-run victory over Zimbabwe at Queens Sports Club in the first of three one-day internationals here on Thursday. That was the official result, but the reality is that Zimbabwe lost it in the final over when they needed 12 runs to w
Published 09 Sep, 2011 12:00am
Australia skittle out Sri Lanka

Australia skittle out Sri Lanka

Australia took early charge of the second Test against Sri Lanka after bowling out the home side for a hugely disappointing 174 soon after tea on the opening day in Pallekele on Thursday. Fast bowler Ryan Harris led the way with three wickets and Trent Co
Published 09 Sep, 2011 12:00am
Pakistan and England series schedule announced

Pakistan and England series schedule announced

Pakistan announced on Thursday a complete programme of its series against top-ranked Test team England, to be played in the United Arab Emirates in January-February. The series, which is played in UAE because Pakistan cannot hold games on home soil over s
Published 09 Sep, 2011 12:00am
Nadal leads player revolt as chaos grips US Open

Nadal leads player revolt as chaos grips US Open

Rafael Nadal claimed players' safety was being put at risk by cash-conscious US Open chiefs trying to rescue the rain-hit event which suffered a virtual washout for the second successive day on Wednesday. Only 15 minutes of play was possible after all of
Published 09 Sep, 2011 12:00am
Spanish clubs gang up over TV rights battle

Spanish clubs gang up over TV rights battle

The chiefs of 12 first division Spanish football clubs met on Thursday to fight for more cash from a television rights system they say unfairly favours Barcelona and Real Madrid. Sevilla president Jose Maria del Nido has led the charge against the two Spa
Published 09 Sep, 2011 12:00am
Eurozone rate futures extend gains

Eurozone rate futures extend gains

Eurozone interest rate futures extended gains on Thursday with investors piling up bets for a European Central Bank rate cut by the end of the year after the bank flagged downside risks to growth and tamed its language on inflation. The ECB's change in to
Published 09 Sep, 2011 12:00am
Won, rupiah dip

Won, rupiah dip

The South Korean won dipped after a dovish statement from Bank of Korea suggested rates would stay on hold this year while Indonesian rupiah also took stride after Indonesia's central bank kept its benchmark policy rate on hold. The dollar rose broadly ag
Published 09 Sep, 2011 12:00am
Indian rupee drops to one-year low

Indian rupee drops to one-year low

The Indian rupee touched its weakest in a year on Thursday, falling for the fourth straight day, as strong dollar demand from domestic oil firms offset gains in domestic equities and kept the local unit in a tight range. The partially convertible rupee en
Published 09 Sep, 2011 12:00am
Yuan rises

Yuan rises

China's yuan closed up against the dollar in the wake of a stronger mid-point on Thursday, and was underpinned by expectations of further gains, especially after Nigeria said the yuan would be a part of it foreign exchange reserves. Spot yuan closed at 6.
Published 09 Sep, 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. 74.10/74.20 (previous 74.00/74.15). Call Money Rates: 6.60-12.00 percent (previous 7.00-19.00 percent).
Published 09 Sep, 2011 12:00am
Euro climbs in New York

Euro climbs in New York

The euro rallied on Wednesday as sovereign debt worries abated temporarily after a German court backed the country's role in eurozone bailouts, though gains may be limited ahead of a European Central Bank meeting. Risk appetite improved as a result of the
Published 09 Sep, 2011 12:00am
Midday trade in New York: Euro hits two-month low

Midday trade in New York: Euro hits two-month low

The euro fell to a two-month low against the dollar on Thursday after remarks by the head of the European Central Bank signalled there will be no interest rate increases in the near term as he highlighted downside risks to the eurozone economy.
Published 09 Sep, 2011 12:00am
Euro falls in London

Euro falls in London

The euro fell against the dollar on Thursday as investors struck a cautious tone with European Central Bank policymakers seen likely to change tack and flag a pause in the recent monetary tightening cycle. The ECB left rates on hold at 1.50 percent as exp
Published 09 Sep, 2011 12:00am
Euro slips in Asia

Euro slips in Asia

The euro slipped in Asia on Thursday and faces headwinds from suspicions that Europe's efforts to fix its debt crisis may not be fast enough to keep markets happy, while the Australian dollar was knocked by a surprise decline in the country's employment l
Published 09 Sep, 2011 12:00am
Sterling rises versus euro

Sterling rises versus euro

Sterling rose strongly against the euro on Thursday as the single currency came under pressure on dovish talk from the European Central Bank, while the pound gained some relief as the Bank of England held back from pursuing more monetary stimulus. The eur
Published 09 Sep, 2011 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc slipped against the dollar and the euro on Thursday as the focus shifted out of Switzerland and to the European Central Bank's rate decision due later in the session to see how it plans to keep fighting the eurozone's debt problems. At 071
Published 09 Sep, 2011 12:00am
Aussie slips, New Zealand dollar holds gains

Aussie slips, New Zealand dollar holds gains

The Australian dipped more than half a US cent on Thursday as a disappointing jobs report encouraged markets to nudge up the chance of an interest rate cut, while the kiwi held on to its overnight gains. The Aussie fell around 0.5 percent on the yen, euro
Published 09 Sep, 2011 12:00am
UK's top share index rises

UK's top share index rises

Britain's leading shares ended higher after a volatile session on Thursday, as investors emerged for beaten-down growth stocks to put a floor under the market ahead of a key speech on job creation by US President Barack Obama. By the close the FTSE 100 wa
Published 09 Sep, 2011 12:00am
European shares end higher

European shares end higher

European shares ended higher on Thursday, boosted by short covering ahead of a speech from US President Barack Obama about his plan for jobs growth to help the struggling US economy. Expectations Obama's $300 billion plan will include tax cuts for the mid
Published 09 Sep, 2011 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares closed up for a second day on Thursday on easing concerns about Europe's debt problems following a German court ruling that helped clear the way for a eurozone bailout plan, with investors awaiting a US President Barack Obama's jobs speech. T
Published 09 Sep, 2011 12:00am
Hong Kong, China shares falter

Hong Kong, China shares falter

Hong Kong and Shanghai shares surrendered early gains and ended 0.7 percent lower on Thursday, on sustained uncertainty over Europe's debt woes and the US economy. Investors stayed on the sidelines amid waning enthusiasm President Barack Obama's speech la
Published 09 Sep, 2011 12:00am
Indian shares at five-week high

Indian shares at five-week high

Indian shares overcame a choppy early session and climbed for a third day to their best close in five weeks on Thursday, with export-driven software services companies among the gainers in anticipation of US moves to bolster its flagging economy.
Published 09 Sep, 2011 12:00am
Most Southeast Asian stocks tilt higher

Most Southeast Asian stocks tilt higher

Most Southeast Asian stock markets posted limited gains in light volume on Thursday, led by commodities-related shares, but investors remained wary amid uncertainty over a eurozone debt crisis and the faltering US economy. Market turnover fell below month
Published 09 Sep, 2011 12:00am
Profit-taking pushes 10-year yield above two percent

Profit-taking pushes 10-year yield above two percent

US Treasury prices fell on Wednesday as investors cashed out of the richest market for Treasuries in decades, with higher stocks and a milder report on the US economy rendering the ultra-safe, low-yielding securities less appealing. The 10-year Treasury y
Published 09 Sep, 2011 12:00am
Profit-taking pushes 10-year yield above two percent

Profit-taking pushes 10-year yield above two percent

US Treasury prices fell on Wednesday as investors cashed out of the richest market for Treasuries in decades, with higher stocks and a milder report on the US economy rendering the ultra-safe, low-yielding securities less appealing. The 10-year Treasury y
Published 09 Sep, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks rose 0.26 percent on Thursday, with defensive sectors such as cement makers in the lead, though computer maker Acer Inc rose by the daily maximum after a media report of new orders. The main TAIEX index rose 19.36 points to 7,548.37. Acer, t
Published 09 Sep, 2011 12:00am
US stocks jump as Europe debt concerns ease

US stocks jump as Europe debt concerns ease

Wall Street bounced more than 2 percent on Wednesday, reversing three days of losses after Germany's top court smoothed the way for Berlin's participation in bailouts that could ease Europe's debt crisis. But investor caution that there remains a long roa
Published 09 Sep, 2011 12:00am
Thursday's midday trade: stocks slightly lower

Thursday's midday trade: stocks slightly lower

US stocks were slightly lower by early afternoon on Thursday as investors awaited a speech by Federal Reserve Chairman Ben Bernanke and one by US President Barack Obama later in the day. Indexes seesawed between modest gains and losses. Banks were the big
Published 09 Sep, 2011 12:00am
Nikkei average gains

Nikkei average gains

The Nikkei stock average on Thursday pulled further away from a six-month low hit this week, helped by hopes of an improvement in Europe's debt situation but the rise was tempered by continuing uncertainty about the US economic outlook. It was a second st
Published 09 Sep, 2011 12:00am
Middle East markets: Kuwait's Zain climbs, bourses mixed

Middle East markets: Kuwait's Zain climbs, bourses mixed

Kuwait's Zain climbed to a five-week high on Thursday on talk the telecom firm was closer to a $950 million sale of its stake in Zain Saudi, as regional bourses ended mixed amid uncertainty in global markets. Zain climbed to at its highest value since Aug
Published 09 Sep, 2011 12:00am
A look into Pakistan's furniture industry

A look into Pakistan's furniture industry

With forests depleted to a mere two percent of the total land area of the country and the lack of scale and technical knowledge, one wonders what the prospects of the furniture industry of Pakistan might be without delving into the repercussions of forest
Published 09 Sep, 2011 12:00am
A look into Pakistan's furniture industry

A look into Pakistan's furniture industry

With forests depleted to a mere two percent of the total land area of the country and the lack of scale and technical knowledge, one wonders what the prospects of the furniture industry of Pakistan might be without delving into the repercussions of forest
Published 09 Sep, 2011 12:00am
Property dispute claims woman's life

Property dispute claims woman's life

A woman was shot dead by a rival group over property dispute in the limits of Domail police station on Thursday. According to the FIR registered by Saima, daughter of the deceased woman Khazana one Behram resident of Bhakar Khel entered their house and sp
Published 09 Sep, 2011 12:00am
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