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Archive - 2011-09-18
Affected growers to get relief: PM
Top News

Affected growers to get relief: PM

UMERKOT: Prime Minister Syed Yusuf Raza Gilani on Sunday terming loss of crops in Sindh by the heavy rain as a big trage
Published 18 Sep, 2011 05:28pm
German state elections in 2011
Europe

German state elections in 2011

BERLIN : Seven of Germany 's 16 states held elections this year, dealing Chancellor Angela Merkel's ruling centre-right
Published 18 Sep, 2011 05:11pm
Market running out of steam
Commodities

Market running out of steam

CHICAGO : Money managers, who can turn the tide in a market midstream because of their deep pockets, seem to be souring
Published 18 Sep, 2011 04:26pm
Qatar eyes Daimler's EADS stake
Top News

Qatar eyes Daimler's EADS stake

FRANKFURT/BERLIN: The Gulf state of Qatar is interested in buying a 7.5 percent stake in European aerospace and defenc
Published 18 Sep, 2011 12:04pm
Blair paid 'secret' visits to Qadhafi
Top News

Blair paid 'secret' visits to Qadhafi

LONDON : Former British prime minister Tony Blair made two private trips to see Moamer Qadhafi in the run-up to the rele
Published 18 Sep, 2011 06:13am
Fifteen killed in Khyber Agency
Top News

Fifteen killed in Khyber Agency

KHYBER AGENCY: At least fifteen people were killed when Taliban militants attacked a checkpost manned by pro-government
Published 18 Sep, 2011 06:11am
Yemen security forces kill 12 protesters
Top News

Yemen security forces kill 12 protesters

SANAA : Security forces opened fire on anti-regime demonstrators on Sunday in the Yemen i capital, killing 12 and woun
Published 18 Sep, 2011 04:00am
Haqqanis to follow Taliban on Afghan peace

Haqqanis to follow Taliban on Afghan peace

The Haqqani network, one of the most feared insurgent groups in Afghanistan, would take part in peace talks with the Kabul government and the United States only if the Taliban did, its leader Sirajuddin Haqqani told Reuters on Saturday.
Published 18 Sep, 2011 12:00am
Haqqanis to follow Taliban on Afghan peace

Haqqanis to follow Taliban on Afghan peace

The Haqqani network, one of the most feared insurgent groups in Afghanistan, would take part in peace talks with the Kabul government and the United States only if the Taliban did, its leader Sirajuddin Haqqani told Reuters on Saturday.
Published 18 Sep, 2011 12:00am
Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Top economic experts on Saturday emphasised introduction of culture of 'No Taxation, No Representation', to enhance the tax-to-GDP ratio and said that payment of taxes should be the basic criterion of eligibility of the people to be elected as public repr
Published 18 Sep, 2011 12:00am
Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Top economic experts on Saturday emphasised introduction of culture of 'No Taxation, No Representation', to enhance the tax-to-GDP ratio and said that payment of taxes should be the basic criterion of eligibility of the people to be elected as public repr
Published 18 Sep, 2011 12:00am
Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Abysmal tax-to-GDP ratio: there should be no sacred cows, says Tarin

Top economic experts on Saturday emphasised introduction of culture of ''No Taxation, No Representation'', to enhance the tax-to-GDP ratio and said that payment of taxes should be the basic criterion of eligibility of the people to be elected as public re
Published 18 Sep, 2011 12:00am
More than 24 sectors identified for composite tax audit

More than 24 sectors identified for composite tax audit

The Federal Board of Revenue (FBR) has identified over 24 leading sectors, including automobiles, power companies, banking, service providers and telecommunication companies, for sales tax and income tax audit for tax year 2010.
Published 18 Sep, 2011 12:00am
More than 24 sectors identified for composite tax audit

More than 24 sectors identified for composite tax audit

The Federal Board of Revenue (FBR) has identified over 24 leading sectors, including automobiles, power companies, banking, service providers and telecommunication companies, for sales tax and income tax audit for tax year 2010.
Published 18 Sep, 2011 12:00am
More than 24 sectors identified for composite tax audit

More than 24 sectors identified for composite tax audit

The Federal Board of Revenue (FBR) has identified over 24 leading sectors, including automobiles, power companies, banking, service providers and telecommunication companies, for sales tax and income tax audit for tax year 2010.
Published 18 Sep, 2011 12:00am
EU ministers see need for stronger bank sector

EU ministers see need for stronger bank sector

EU finance ministers agreed on Saturday that European banks must be strengthened in the follow-up to July stress tests as a report said a "systemic" crisis in sovereign debt now threatened a new credit crunch. "We reached the conclusion that we need to ma
Published 18 Sep, 2011 12:00am
EU ministers see need for stronger bank sector

EU ministers see need for stronger bank sector

EU finance ministers agreed on Saturday that European banks must be strengthened in the follow-up to July stress tests as a report said a "systemic" crisis in sovereign debt now threatened a new credit crunch. "We reached the conclusion that we need to ma
Published 18 Sep, 2011 12:00am
EU ministers see need for stronger bank sector

EU ministers see need for stronger bank sector

EU finance ministers agreed on Saturday that European banks must be strengthened in the follow-up to July stress tests as a report said a "systemic" crisis in sovereign debt now threatened a new credit crunch. "We reached the conclusion that we need to ma
Published 18 Sep, 2011 12:00am
Number of flood victims rises over seven million

Number of flood victims rises over seven million

The number of people affected in recent floods in Pakistan rose above seven million, as authorities scrambled to provide relief goods and evacuate marooned people, the government said on Saturday. The floods, brought by heavy monsoon downpours which start
Published 18 Sep, 2011 12:00am
Number of flood victims rises over seven million

Number of flood victims rises over seven million

The number of people affected in recent floods in Pakistan rose above seven million, as authorities scrambled to provide relief goods and evacuate marooned people, the government said on Saturday. The floods, brought by heavy monsoon downpours which start
Published 18 Sep, 2011 12:00am
Monetary Policy on October 8

Monetary Policy on October 8

The Monetary Policy Statement for the next two months will be delayed and will be released on October 8, as the Acting Governor of the State Bank will be abroad for dialogue with international financial institutions. The MPS, which is normally released in
Published 18 Sep, 2011 12:00am
Monetary Policy on October 8

Monetary Policy on October 8

The Monetary Policy Statement for the next two months will be delayed and will be released on October 8, as the Acting Governor of the State Bank will be abroad for dialogue with international financial institutions. The MPS, which is normally released in
Published 18 Sep, 2011 12:00am
Monetary Policy on October 8

Monetary Policy on October 8

The Monetary Policy Statement for the next two months will be delayed and will be released on October 8, as the Acting Governor of the State Bank will be abroad for dialogue with international financial institutions. The MPS, which is normally released in
Published 18 Sep, 2011 12:00am
0.5 million tons of sugar shortage likely

0.5 million tons of sugar shortage likely

Sugar Advisory Board (SAB) in a meeting Saturday estimated 0.5 million tons of sugar shortage during the next season mainly due to floods in Sindh and a low sugarcane yield in other provinces. Pakistan Sugar Mills Association (PSMA), one of the key stakeh
Published 18 Sep, 2011 12:00am
0.5 million tons of sugar shortage likely

0.5 million tons of sugar shortage likely

Sugar Advisory Board (SAB) in a meeting Saturday estimated 0.5 million tons of sugar shortage during the next season mainly due to floods in Sindh and a low sugarcane yield in other provinces. Pakistan Sugar Mills Association (PSMA), one of the key stakeh
Published 18 Sep, 2011 12:00am
0.5 million tons of sugar shortage likely

0.5 million tons of sugar shortage likely

Sugar Advisory Board (SAB) in a meeting Saturday estimated 0.5 million tons of sugar shortage during the next season mainly due to floods in Sindh and a low sugarcane yield in other provinces. Pakistan Sugar Mills Association (PSMA), one of the key stakeh
Published 18 Sep, 2011 12:00am
Step up relief efforts, Gilani tells Qaim

Step up relief efforts, Gilani tells Qaim

Prime Minister Syed Yousuf Raza Gilani on Saturday asked provincial authorities to accelerate provision of food, shelter and medical facilities to flood victims in Sindh. He was addressing the flood-affected people at their camps that also included a free
Published 18 Sep, 2011 12:00am
Step up relief efforts, Gilani tells Qaim

Step up relief efforts, Gilani tells Qaim

Prime Minister Syed Yousuf Raza Gilani on Saturday asked provincial authorities to accelerate provision of food, shelter and medical facilities to flood victims in Sindh. He was addressing the flood-affected people at their camps that also included a free
Published 18 Sep, 2011 12:00am
UK arms show expels two Pakistani exhibitors

UK arms show expels two Pakistani exhibitors

Two Pakistani weapons companies were expelled from a major London weapons fair after a British lawmaker discovered that cluster munitions were being advertised at their stands, the show's organisers said Saturday. Green Party parliamentarian Caroline Luca
Published 18 Sep, 2011 12:00am
UK arms show expels two Pakistani exhibitors

UK arms show expels two Pakistani exhibitors

Two Pakistani weapons companies were expelled from a major London weapons fair after a British lawmaker discovered that cluster munitions were being advertised at their stands, the show's organisers said Saturday. Green Party parliamentarian Caroline Luca
Published 18 Sep, 2011 12:00am
Americans must pay fair share to cut deficit: Obama

Americans must pay fair share to cut deficit: Obama

President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the US deficit, previewing his proposals to Congress that are expected to include more taxes on the rich. In his weekly radio and video address, th
Published 18 Sep, 2011 12:00am
Americans must pay fair share to cut deficit: Obama

Americans must pay fair share to cut deficit: Obama

President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the US deficit, previewing his proposals to Congress that are expected to include more taxes on the rich. In his weekly radio and video address, th
Published 18 Sep, 2011 12:00am
Americans must pay fair share to cut deficit: Obama

Americans must pay fair share to cut deficit: Obama

President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the US deficit, previewing his proposals to Congress that are expected to include more taxes on the rich. In his weekly radio and video address, th
Published 18 Sep, 2011 12:00am
Pakistan fails to get adequate amount of money from ADB

Pakistan fails to get adequate amount of money from ADB

Pakistan has failed to receive an adequate amount of money from the World Bank during 2010-11, as the country received just $366 million against the commitment of $1.553 billion, while it repaid to World Bank $341 million during the last fiscal year.
Published 18 Sep, 2011 12:00am
Pakistan fails to get adequate amount of money from ADB

Pakistan fails to get adequate amount of money from ADB

Pakistan has failed to receive an adequate amount of money from the World Bank during 2010-11, as the country received just $366 million against the commitment of $1.553 billion, while it repaid to World Bank $341 million during the last fiscal year.
Published 18 Sep, 2011 12:00am
Pakistan fails to get adequate amount of money from ADB

Pakistan fails to get adequate amount of money from ADB

Pakistan has failed to receive an adequate amount of money from the World Bank during 2010-11, as the country received just $366 million against the commitment of $1.553 billion, while it repaid to World Bank $341 million during the last fiscal year.
Published 18 Sep, 2011 12:00am
Clinton may discuss issue of Haqqani network with Hina today

Clinton may discuss issue of Haqqani network with Hina today

Foreign Minister Hina Rabbani Khar, who left for New York recently to attend 66th session of the UN General Assembly will have a meeting with US Secretary of State Hilary Clinton on Sunday (today). Diplomatic sources said that Clinton is likely to discuss
Published 18 Sep, 2011 12:00am
Clinton may discuss issue of Haqqani network with Hina today

Clinton may discuss issue of Haqqani network with Hina today

Foreign Minister Hina Rabbani Khar, who left for New York recently to attend 66th session of the UN General Assembly will have a meeting with US Secretary of State Hilary Clinton on Sunday (today). Diplomatic sources said that Clinton is likely to discuss
Published 18 Sep, 2011 12:00am
US claims evidence ties Haqqani network to Pakistan

US claims evidence ties Haqqani network to Pakistan

The US ambassador to Islamabad said in remarks broadcast Saturday that there is evidence linking the Haqqani network to the Pakistani government, a charge that could raise tensions in an already strained anti-terror alliance between Washington and Islamab
Published 18 Sep, 2011 12:00am
US claims evidence ties Haqqani network to Pakistan

US claims evidence ties Haqqani network to Pakistan

The US ambassador to Islamabad said in remarks broadcast Saturday that there is evidence linking the Haqqani network to the Pakistani government, a charge that could raise tensions in an already strained anti-terror alliance between Washington and Islamab
Published 18 Sep, 2011 12:00am
Format of new return form: provision for payment of SED removed

Format of new return form: provision for payment of SED removed

The Federal Board of Revenue (FBR) has removed the provision for payment of special excise duty from the format of the new sales tax and federal excise return form following abolition of the SED in budget (2011-2012). Explaining the changes on main Form o
Published 18 Sep, 2011 12:00am
Format of new return form: provision for payment of SED removed

Format of new return form: provision for payment of SED removed

The Federal Board of Revenue (FBR) has removed the provision for payment of special excise duty from the format of the new sales tax and federal excise return form following abolition of the SED in budget (2011-2012). Explaining the changes on main Form o
Published 18 Sep, 2011 12:00am
Format of new return form: provision for payment of SED removed

Format of new return form: provision for payment of SED removed

The Federal Board of Revenue (FBR) has removed the provision for payment of special excise duty from the format of the new sales tax and federal excise return form following abolition of the SED in budget (2011-2012). Explaining the changes on main Form o
Published 18 Sep, 2011 12:00am
Dengue claims seven more lives in Lahore

Dengue claims seven more lives in Lahore

As many as seven more people lost their lives in Lahore on Saturday, as dengue virus continues to play havoc with 627 more dengue victims tested positive and admitted in different government and private hospitals in the provincial metropolis. Those died a
Published 18 Sep, 2011 12:00am
Dengue claims seven more lives in Lahore

Dengue claims seven more lives in Lahore

As many as seven more people lost their lives in Lahore on Saturday, as dengue virus continues to play havoc with 627 more dengue victims tested positive and admitted in different government and private hospitals in the provincial metropolis. Those died a
Published 18 Sep, 2011 12:00am
Creation of 'Hazara province' is basic right of local people: Hoti

Creation of 'Hazara province' is basic right of local people: Hoti

Khyber Pakhtunkhwa (KP) Chief Minister Ameer Haider Khan Hoti said on Saturday that the creation of Hazara province is the basic right of the local people, and added that the provincial government would never oppose the idea, but the direction has been de
Published 18 Sep, 2011 12:00am
Murtaza Bhutto's 15th death anniversary today

Murtaza Bhutto's 15th death anniversary today

The 15th death anniversary of former Chairman of PPP (Shaheed Bhutto Group) and the eldest son of Shaheed Zulfiqar Ali Bhutto and brother of Shaheed Benazir Bhutto, Shaheed Mir Murtaza Bhutto will be observed on September 18, 2011 (Sunday), by both PPP (S
Published 18 Sep, 2011 12:00am
Business schools asked to get accreditation from NBEAC

Business schools asked to get accreditation from NBEAC

Dr Javaid R. Laghari Chairperson Higher Education Commission (HEC) on Saturday emphasised the need to make efforts for improving quality of business education and asked the business schools to seek accreditation from National Business Education Accreditat
Published 18 Sep, 2011 12:00am
Actions against criminals to continue: Wassan

Actions against criminals to continue: Wassan

Sindh Home Minister, Manzoor Hussain Wassan on Saturday said that the actions of police and Rangers against criminal elements in Karachi would continue and police have been ordered to present strong evidence-based challans of the arrested accused in the c
Published 18 Sep, 2011 12:00am
Nephew of chief justice SHC kidnapped

Nephew of chief justice SHC kidnapped

A nephew of the chief justice, Sindh High Court (SHC) was kidnapped by unidentified men in the limits of Aziz Bhatti police station on Saturday. According to police and eyewitnesses, two unidentified armed men, who came in a car, kidnapped Faizan, 17 son
Published 18 Sep, 2011 12:00am
Taxpayers advised to deposit SToS in designated account

Taxpayers advised to deposit SToS in designated account

Sindh Revenue Board (SRB) has advised all concerned that any Sindh Sales Tax on Services (SToS) payment made under any head of account other than "B-02382-Sindh Sales Tax on Services" and/or made on any CPR other than Form SST-04, shall be deemed non-paym
Published 18 Sep, 2011 12:00am
Kitchen items' prices rise: Business Recorder survey

Kitchen items' prices rise: Business Recorder survey

The prices of essential kitchen items registered considerable increase this week as compared to last week. A survey carried out by Business Recorder showed that the prices of essential kitchen items, including wheat flour, pulses, chicken, mutton a
Published 18 Sep, 2011 12:00am
Pakistan has enormous potential to progress: British HC

Pakistan has enormous potential to progress: British HC

"Pakistan has tremendous resources, well educated human capital and has enormous potential to progress despite facing myriad problems." This was stated by Francis Campbell, British Deputy High Commissioner by Karachi Chamber of Commerce and Industry.
Published 18 Sep, 2011 12:00am
Section 144 imposed on Lahore

Section 144 imposed on Lahore

The Punjab government has imposed section 144 in Lahore, on the recommendation of Sri Lankan health experts, to stave off the spread of dengue. According to the Lahore District Co-ordination Officer Ahad Khan Cheema, car washing in streets, on roads and a
Published 18 Sep, 2011 12:00am
Classical singer Amanat Ali Khan remembered

Classical singer Amanat Ali Khan remembered

The popular classical singer Amanat Ali Khan was remembered on Saturday with tributes paid to his memorable songs in the Pakistan music industry. He was born in 1932 in Sham Chaurasi, Hoshiarpur, Punjab. He was a Pakistani classical/Ghazal singer from the
Published 18 Sep, 2011 12:00am
Export of organic brown sugar may be allowed in new Trade Policy

Export of organic brown sugar may be allowed in new Trade Policy

The export of organic brown sugar is likely to be allowed in the Trade Policy 2011-12 with a view to encourage its production in the country. However, the Ministry of Industries has supported this proposal only to the extent of two percent of annual produ
Published 18 Sep, 2011 12:00am
MoP&NR refutes LPG association's claim

MoP&NR refutes LPG association's claim

The Ministry of Petroleum and Natural Resources has clarified that claims made by LPG association are not based on facts. It is the reaction of those who have thrived on LPG quota system thereby fleecing the general public by charging very high prices. In
Published 18 Sep, 2011 12:00am
Five killed in separate incidents

Five killed in separate incidents

At least five persons were killed in separate incidents in various parts of the metropolis here on Saturday. According to the police, a slaughtered body was found at Malir Cantt in the limits of Malir Cantt police station. The victim is identified as Ghul
Published 18 Sep, 2011 12:00am
Traders demand apology from KCCI for terming AKTI 'fake body'

Traders demand apology from KCCI for terming AKTI 'fake body'

Small traders have warned the Karachi Chamber of Commerce and Industry (KCCI) of launching agitations for calling their trade organisations fake, saying that the Chamber leadership should act prudently and tender an apology.
Published 18 Sep, 2011 12:00am
Construction of Bhasha Dam to begin soon: Wattoo

Construction of Bhasha Dam to begin soon: Wattoo

Federal Minister for Kashmir Affairs, Mian Manzoor Ahmad Wattoo, said that construction of Bhasha Dam will be started very soon as Rs 42 billion compensation has been paid to the affected persons and land has been acquired.
Published 18 Sep, 2011 12:00am
UAF announces 20 scholarships for its staff to study abroad

UAF announces 20 scholarships for its staff to study abroad

The University of Agriculture, Faisalabad, has announced 20 scholarships to study abroad for the varsity's teaching staff in order to enhance capacity building of the teachers that will help provide more quality education to the students. UAF vice-chancel
Published 18 Sep, 2011 12:00am
Four patients' death at JPMC: removal of Sindh health secretary sought

Four patients' death at JPMC: removal of Sindh health secretary sought

The Steering Committee comprising doctors of JPMC, NICH and NICVD has denounced the facts established in inquiry report, issued to media, of incident took place in JPMC a coupe of days back in which four patients had lost their lives due to negligence of
Published 18 Sep, 2011 12:00am
ADJ grants bail to JSQM chief

ADJ grants bail to JSQM chief

Additional District and Sessions Judge (ADJ), Malir, here on Saturday granted bail to Chairman Jeay Sindh Qaumi Mahaz (JSQM) Basheer Qureshi and his guard Badaruddin booked for keeping illegal arms. Each of the accused was granted bail against surety of R
Published 18 Sep, 2011 12:00am
Confirmation of SHC judges notified

Confirmation of SHC judges notified

Parliamentary Committee has confirmed the four Additional Judges as permanent Judges of Sindh High Court (SHC). According to a notification issued by the Registrar of SHC here on Saturday, the Parliamentary Committee has allowed confirmation of Justice An
Published 18 Sep, 2011 12:00am
Sindh University announces admissions in MS/M.Phil programme

Sindh University announces admissions in MS/M.Phil programme

Sindh University (SU) has announced the schedule for admissions in MS/M.Phil programme in 31 disciplines for the academic session 2012. The Director Graduates Studies Sindh University has notified on Saturday that admission forms to candidates for admissi
Published 18 Sep, 2011 12:00am
Action to be taken against negligent officers: minister

Action to be taken against negligent officers: minister

Sindh Minister for Local Government Agha Siraj Durrani has said action will be taken against officers of the city government and town administration who showed carelessness in dealing with the situation after heavy rains in the city. The minister was talk
Published 18 Sep, 2011 12:00am
Trade delegation to meet Spain superstore giant

Trade delegation to meet Spain superstore giant

A trade delegation led by Director Firoz International, Alamgir Firoz comprising more than 50 top companies of Pakistan will leave for Spain on Sunday from here. The delegation, comprising top businessmen of Pakistan will meet the high ups of EL Corle Ing
Published 18 Sep, 2011 12:00am
World Islamic Finance Summit begins from September 21

World Islamic Finance Summit begins from September 21

A defining moment was witnessed on Thursday at the Islamic Chamber of Commerce and Industries when the curtain was raised for the upcoming World Islamic Finance Summit which is being held on 21-22 September 2011 at Karachi Marriott Hotel. The theme of the
Published 18 Sep, 2011 12:00am
Mark-sheets ready for issuance

Mark-sheets ready for issuance

Board of Intermediate Education Karachi (BIEK) has notified all the Heads of institution concerned that the mark sheets for the HSC Part II Science Pre-Engineering and Science General groups annual examination 2011 are ready for issuance. The college repr
Published 18 Sep, 2011 12:00am
Two killed in Bhag

Two killed in Bhag

A woman and a man were shot dead by unknown gunmen over a suspicion of illicit relations (Siakari) in Bhag area on Saturday, Levis official said.
Published 18 Sep, 2011 12:00am
NICL case: FIA adds new witnesses against Moonis

NICL case: FIA adds new witnesses against Moonis

The Federal Investigation Agency (FIA) on Saturday presented supplementary challan against PML-Q leader Moonis Elahi in National Insurance Corporation Limited scam before District and Sessions Judge Mujahid Mustaqim. The FIA declared Moonis guilty in the
Published 18 Sep, 2011 12:00am
ECP concludes hearing of 28 returned candidates

ECP concludes hearing of 28 returned candidates

The Election Commission of Pakistan (ECP) on Saturday concluded the hearing of 28 candidates, who won by-elections after the promulgation of the 18th amendment of the constitution. The Supreme Court had directed the ECP to explain the status of by-polls i
Published 18 Sep, 2011 12:00am
Rehman visits FIA Headquarters, reviews performance

Rehman visits FIA Headquarters, reviews performance

Federal Minister for Interior, Senator A. Rehman Malik visited FIA HQ on Saturday. Federal Minister held a high level meeting to review the working and performance of FIA. Secretary Interior, Chairman PTA and other senior officers of FIA attended the meet
Published 18 Sep, 2011 12:00am
Delegation of PBTIF meets businessmen, officials

Delegation of PBTIF meets businessmen, officials

A Delegation of Pakistan Britain Trade and Investment Forum (PBTIF) met government functionaries and private sector businessmen here on Saturday to explore areas of investment in Punjab. The Punjab Board of Investment Trade (PBIT) co-ordinated and facilit
Published 18 Sep, 2011 12:00am
Pakistan agrees to lower palm oil duty for Indonesia

Pakistan agrees to lower palm oil duty for Indonesia

Pakistan has agreed to lower its duty by 15 percent on Indonesian crude palm oil and its by products by January 2012, officials said. In return, Indonesia will open its market for Pakistan's Kino oranges with zero import duties, said Indonesian Deputy Tra
Published 18 Sep, 2011 12:00am
Dengue virus test: Private laboratories to charge Rs 90: chief minister

Dengue virus test: Private laboratories to charge Rs 90: chief minister

Punjab Chief Minister Shahbaz Sharif said that maximum fee for dengue virus test has been fixed at Rs 90 in consultation with private laboratories and they will not charge more than this rate. He also directed that implementation on decided rates should b
Published 18 Sep, 2011 12:00am
Security personnel injured in blast

Security personnel injured in blast

At-least five security personnel were injured in a remote-controlled explosion in Landi Kotal, Khyber Agency. According to sources, the FC personnel were on their way to the cantonment. When they came near Landi Kotal Bazaar, they were attacked by a remot
Published 18 Sep, 2011 12:00am
UNFPA rapidly delivers reproductive health supplies

UNFPA rapidly delivers reproductive health supplies

Responding to the government's call for international assistance, UNFPA, the United Nations Population Fund, is moving rapidly to deliver the urgently needed reproductive health services to the flood-affected people in Pakistan as part of a co-ordinated h
Published 18 Sep, 2011 12:00am
PHMEA elects chairman, vice-chairman

PHMEA elects chairman, vice-chairman

Pakistan Hosiery Manufacturers & Exporters Association has elected Usman Jawaad and Qamar Aftab as Chairman and Vice Chairman respectively. Results of elections were announced in the Annual General Meeting of the association held on Saturday. The newly el
Published 18 Sep, 2011 12:00am
Dengue is one hundred percent curable: experts

Dengue is one hundred percent curable: experts

Sri Lankan team on dengue virus has declared that dengue disease is hundred percent curable and people should not be panic. They observed that in hospitals, maximum arrangements have been made by the Punjab Government and now this spell would end at its u
Published 18 Sep, 2011 12:00am
Apex court actions: JAP lashes out at ICJ chief's statement

Apex court actions: JAP lashes out at ICJ chief's statement

The judicial activism panel (JAP) has strongly condemned the statement by International Commission of Jurists (ICJ) chief, Stefan Trechsel wherein he has criticised the suo motu notices taken by the Supreme Court of Pakistan.
Published 18 Sep, 2011 12:00am
Dengue virus: Punjab government to devise five-year strategic plan

Dengue virus: Punjab government to devise five-year strategic plan

The government of Punjab has decided to devise a five-year strategic plan to control dengue virus that is spreading in Pakistan, especially in the province with every passing day. Well-placed sources told Business Recorder, here on Saturday, that an actio
Published 18 Sep, 2011 12:00am
Khyber-Pakhtunkhwa traders want action against robbers

Khyber-Pakhtunkhwa traders want action against robbers

Markazi Tanzeem-e-Tajaraan, Khyber-Pakhtunkhwa chapter has expressed concern over the growing robberies at traders' houses; it also demanded of the provincial government and the police high-ups to take stern action against the looters, and provide them ap
Published 18 Sep, 2011 12:00am
Palestinian statehood

Palestinian statehood

Sometime later this month, the world community will be asked to stand up and take a moral position on Palestinians' life-long struggle for recognition of their country as an independent state. Barring extremely slim chances, President Mehmud Abbas is goin
Published 18 Sep, 2011 12:00am
Kabul River dams

Kabul River dams

According to a Business Recorder exclusive, the Afghan government is actively engaged in talks with the international community to build multipurpose dams on the tributaries of the Kabul River with India reportedly playing the lead role in this reg
Published 18 Sep, 2011 12:00am
Privatisation of HEC

Privatisation of HEC

After a long pause in the ongoing privatisation process due to the landmark decision of the Supreme Court of Pakistan to annul the divestment deal of the Pakistan Steel, the government has re-commenced the implementation of its privatisation programme.
Published 18 Sep, 2011 12:00am
Sudanese boycott meat to fight food inflation

Sudanese boycott meat to fight food inflation

Ishraga Youssef was running out of options as food prices spiralled in Sudan's capital Khartoum, so she decided to take drastic action by giving up meat. Over the weekend, her children were due to sit down to some rare vegetarian dinners - partly to save
Published 18 Sep, 2011 12:00am
PPP's reconciliation beyond borders

PPP's reconciliation beyond borders

While President Ali Zardari's appeal for Dua and Istaghfaar (seeking Allah the Almighty's forgiveness) has been well received throughout the country in the context of torrential rains and the devastation caused by them, a broad cross-section of public opi
Published 18 Sep, 2011 12:00am
Flood relief fund: ministry employees to donate three-day salaries

Flood relief fund: ministry employees to donate three-day salaries

All the employees of grade 16 and above of the ministry of information and broadcasting including its allied departments will donate three days' salaries to Prime Minister's Relief Fund for the Flood Victims of Sindh. This was decided in a meeting of I&B
Published 18 Sep, 2011 12:00am
Turkish people raise $138 million to build 4,620 homes

Turkish people raise $138 million to build 4,620 homes

Turkish people have raised funds to help their flood-hit Pakistani brethren and a sum of US $138 million would be spent to construct 4,620 homes in the flood-hit parts of the country in South Punjab, Sindh and Balochistan. This was stated by the officials
Published 18 Sep, 2011 12:00am
Floods, dengue: Aptma announces millions of rupees' support

Floods, dengue: Aptma announces millions of rupees' support

All Pakistan Textile Mills Association (Aptma) has announced millions of rupees relief package for the flood and dengue-affected people in Sindh and Punjab, taking lead in meeting the corporate social responsibility and responding to public worries on the
Published 18 Sep, 2011 12:00am
PML (Like-Minded) announces Rs 1 million support

PML (Like-Minded) announces Rs 1 million support

Senior Leadership of Pakistan Muslim League (Like-Minded) Hamid Nasir Chattha, Senator Salim Saifullah Khan, Humayun Akhtar Khan and Khurshid Mahmood Kasuri announced Rs one million for the flood victims of Sindh. Chairman of PML Hamid Nasir Chattha while
Published 18 Sep, 2011 12:00am
Chinese CG presents cheque for flood victims

Chinese CG presents cheque for flood victims

Consul General of China, Zhang Jian on Saturday presented a relief amount cheque for the rain and flood affectees in Sindh, to Chief Minister Sindh Syed Qaim Ali Shah at CM House. He expressed sympathies and sorrows on the huge losses of lives and propert
Published 18 Sep, 2011 12:00am
MPAs to contribute in flood relief fund

MPAs to contribute in flood relief fund

Government of Sindh has decided that all MPAs, cabinet members including Special Assistants to Chief Minister and Government Employees in BS-16 to 22 of Provincial/District Government and autonomous/ semi-autonomous bodies of Sindh Government will contrib
Published 18 Sep, 2011 12:00am
200,000 affected by rains in Dadu

200,000 affected by rains in Dadu

About 200,000 people have been affected owing to the recent rains in Dadu district. This was stated by the District Co-ordination Officer (DCO), Dadu, Dr Niaz Ali Abbasi. At a briefing here on Saturday, he said that 15,000 kutcha houses were also damaged
Published 18 Sep, 2011 12:00am
NBP contributes Rs 25 million for flood victims

NBP contributes Rs 25 million for flood victims

National Bank of Pakistan (NBP) is always the first corporate entity to come forward and help the nation whenever a calamity hits its countrymen. In the recent floods of 2011, National Bank of Pakistan has opened a collection account number 696969 for Pri
Published 18 Sep, 2011 12:00am
415,195 flood victims provided shelter across Sindh

415,195 flood victims provided shelter across Sindh

An estimated 415,195 people are presently living in some 2,656 makeshift temporary relief sites, including schools and public buildings, dotted across Sindh. Some 5.74 million people in different districts of the province have been affected by the floods
Published 18 Sep, 2011 12:00am
Minister plays down dengue scare

Minister plays down dengue scare

Federal Minister for Communication, Dr Arbab Alamgir Khan Khalil, has stressed the need for making concerted and comprehensive efforts for rescue and rehabilitation of flood-affected people. Talking to a group of senior journalists here on Saturday, he ca
Published 18 Sep, 2011 12:00am
PIMA set up medical camps in flood hit areas of Sindh

PIMA set up medical camps in flood hit areas of Sindh

Pakistan Islamic Medical Association (PIMA) has set up eight medical camps in flood and rain hit areas of Sindh province. Spokesman of PIMA informed APP on Saturday that two mobile medical camps also operating in different areas while camps established in
Published 18 Sep, 2011 12:00am
Provincial authorities directed to speed up relief work

Provincial authorities directed to speed up relief work

Prime Minister Syed Yousuf Raza Gilani on Saturday asked provincial authorities to accelerate provision of food, shelter and medical facilities to flood victims in Sindh. He was addressing the flood-affected people at their camps that also included a free
Published 18 Sep, 2011 12:00am
Smeda plans to revive Khadi industry in southern Punjab

Smeda plans to revive Khadi industry in southern Punjab

Small and Medium Enterprise Development Authority (Smeda) has evolved a well-knitted plan for accelerating economic activities and gender empowerment in Southern Punjab, said Provincial Chief Smeda Muhammad Alamgir Choudhary. In an interview with Busin
Published 18 Sep, 2011 12:00am
Turkey refuses US mediation in crisis with Israel

Turkey refuses US mediation in crisis with Israel

Turkey does not need United States' mediation to solve a long-lasting crisis with Israel over a deadly 2010 flotilla raid, Turkish Foreign Minister Ahmet Davutoglu said Saturday. "We do not need mediation for Israel in any way," Davutoglu said during a te
Published 18 Sep, 2011 12:00am
Series of quakes hit off Japan's disaster zone

Series of quakes hit off Japan's disaster zone

A strong 6.6-magnitude undersea quake and a series of aftershocks hit off the coast of Japan's Honshu island Saturday, not far from the area ravaged by a huge March quake and tsunami, geologists said. There were no immediate reports of damage or casualtie
Published 18 Sep, 2011 12:00am
Somalia bans foreign aid workers from rebel areas

Somalia bans foreign aid workers from rebel areas

Somalia has banned foreign aid workers and journalists from entering areas controlled by al Shabaab insurgents after members of a Turkish charity took food to famine victims in an area under the Islamist group. Nearly all aid agencies have already barred
Published 18 Sep, 2011 12:00am
Khamenei warns Arab revolts against trusting the West

Khamenei warns Arab revolts against trusting the West

Iran's supreme leader Ayatollah Ali Khamenei on Saturday warned those involved in popular Arab uprisings against trusting Western powers and their "promises," saying they should instead confide in Islam for solutions.
Published 18 Sep, 2011 12:00am
Four dead in Thai blasts

Four dead in Thai blasts

Malaysian tourists were among four killed and 110 wounded in multiple blasts in the insurgency-plagued Thai south, authorities said Saturday, amid concerns that foreigners were targeted. Three Malaysians, including a three-year-old boy, and one Thai natio
Published 18 Sep, 2011 12:00am
Nepal landslide kills seven

Nepal landslide kills seven

Seven people, two of them children, were killed on Saturday when a landslide triggered by heavy monsoon rains buried a remote village in western Nepal, police said. Police and army rescuers were sent to the area to reach survivors after part of the hillsi
Published 18 Sep, 2011 12:00am
Plane crashes at Nevada air race; three dead

Plane crashes at Nevada air race; three dead

A vintage World War Two fighter plane crashed near the grandstand at a Nevada air race on Friday, killing at least three people, including the elderly pilot, and injuring more than 50, officials said. At least 15 people were in critical condition after th
Published 18 Sep, 2011 12:00am
Japanese photographer dies at Mount Everest

Japanese photographer dies at Mount Everest

A Japanese photographer who was part of a documentary crew filming an expedition on Mount Everest died of a heart attack, a Nepalese government official said on Saturday. Kino Hiroaki, 48, who was taking still pictures of the climb, collapsed at Everest b
Published 18 Sep, 2011 12:00am
Qadhafi strongholds hold out against assaults

Qadhafi strongholds hold out against assaults

Libyan interim government forces charged back into the besieged desert town of Bani Walid on Saturday, a day after diehard loyalists of Muammar Qadhafi beat them back into a humiliating retreat. Forces loyal to the new authorities were also battling Qadha
Published 18 Sep, 2011 12:00am
Turkey parachutes in aid to Libya's Bani Walid

Turkey parachutes in aid to Libya's Bani Walid

Turkey Saturday was parachuting in 22 tonnes of humanitarian aid to the Libyan city of Bani Walid, one of the last holdouts of fallen leader Moamer Qadhafi's supporters, the prime minister's office said. Two military cargo planes left Ankara on Saturday t
Published 18 Sep, 2011 12:00am
Obama's approval rating slides again

Obama's approval rating slides again

US President Barack Obama's job approval rating continued its downward spiral Friday, dropping to 43 percent while his disapproval rating soared to 50 percent, according to a new opinion poll. The survey, commissioned jointly by The New York Times and CBS
Published 18 Sep, 2011 12:00am
Attack in western Ivory Coast kills 15

Attack in western Ivory Coast kills 15

Gunmen attacked Ivory Coast's armed forces in the south-west of the country overnight on Thursday and 15 people were killed, state television said on Saturday. RTI (Radiodiffusion Television Ivoirienne) said it appeared the attackers had come across the L
Published 18 Sep, 2011 12:00am
Former US Senator Percy dies

Former US Senator Percy dies

Former US Senator Charles Percy of Illinois, a leading moderate Republican voice during the Vietnam and Watergate years, died on Saturday, his daughter's office said. Percy, 91, who served in the Senate from 1966 to 1984, opposed the Vietnam war and spons
Published 18 Sep, 2011 12:00am
Small blast near Taj Mahal injures six

Small blast near Taj Mahal injures six

Police say a small bomb has injured six people at a hospital in the Indian city of Agra near the Taj Mahal. Police say it is too early to say if the blast was the result of a terror attack. The explosion shattered windows Saturday night in the reception a
Published 18 Sep, 2011 12:00am
Panchen Lama, Putin in running for China peace prize

Panchen Lama, Putin in running for China peace prize

China's controversial choice as the Panchen Lama and Russian Prime Minister Vladimir Putin are both in the running for a Chinese alternative to the Nobel Peace Prize, an organiser said Saturday. The "Confucius Peace Prize" emerged for the first time last
Published 18 Sep, 2011 12:00am
Euro on track for best week since July

Euro on track for best week since July

The euro headed for its best week in eight against the dollar on Friday but the gains appeared to be running out of steam as investors deemed policymakers' latest action insufficient to solve Europe's debt crisis. Gains in the euro were fuelled by the Eur
Published 18 Sep, 2011 12:00am
Latam currencies weaken

Latam currencies weaken

Latin American currencies weakened against the US dollar on Friday as efforts to resolve European debt problems faltered and US consumer confidence slipped to three-decade lows. A proposal to bolster faith in European sovereign debt by having the entire 1
Published 18 Sep, 2011 12:00am
Canadian dollar stronger

Canadian dollar stronger

The Canadian dollar strengthened to touch its highest point against the greenback in two weeks on Friday, as investor appetite for risk stretched into a fourth day, helped by less pessimism over Europe. Global equities rose but the euro slid as hope Europ
Published 18 Sep, 2011 12:00am
Speculators go long on dollar; first time since last year

Speculators go long on dollar; first time since last year

Currency speculators took long bets on the US dollar for the first time since July 2010 in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $1.77 billi
Published 18 Sep, 2011 12:00am
African currencies outlook

African currencies outlook

Ghana's cedi is in danger of sliding to a record low against the dollar next week, while Kenya's shilling, which has been hammered throughout the year, may finally find support from a central bank interest rate increase.
Published 18 Sep, 2011 12:00am
Europe propels Wall Street higher for week

Europe propels Wall Street higher for week

US stocks rose for a fifth day in a row on Friday and the S&P 500 scored its best week since early July on signs eurozone leaders were acting together to limit any damage from its sovereign debt crisis. The leaders took steps this week to show they were t
Published 18 Sep, 2011 12:00am
Receding eurozone concern helps ADRs

Receding eurozone concern helps ADRs

US-listed shares of overseas companies edged up on Friday, with banks mostly higher as investors were increasingly optimistic that leaders are closer to containing the eurozone debt crisis. Shares of ING Group gained 3.2 percent to $7.42 in New York, whil
Published 18 Sep, 2011 12:00am
Receding eurozone concern helps ADRs

Receding eurozone concern helps ADRs

US-listed shares of overseas companies edged up on Friday, with banks mostly higher as investors were increasingly optimistic that leaders are closer to containing the eurozone debt crisis. Shares of ING Group gained 3.2 percent to $7.42 in New York, whil
Published 18 Sep, 2011 12:00am
JGBs edge down

JGBs edge down

Japanese government bond prices dipped on Friday following a move by major central banks to offer dollar liquidity to financial institutions and as Japanese investors took profits ahead of their book-closings later this month. Still, with the dollar injec
Published 18 Sep, 2011 12:00am
JGBs edge down

JGBs edge down

Japanese government bond prices dipped on Friday following a move by major central banks to offer dollar liquidity to financial institutions and as Japanese investors took profits ahead of their book-closings later this month. Still, with the dollar injec
Published 18 Sep, 2011 12:00am
Latam stocks slip; Brazil steel shines

Latam stocks slip; Brazil steel shines

Brazilian stocks rose on Friday as moves in the eurozone to ease a debt crisis calmed nerves and a local tax on imported cars boosted steelmakers, although stocks in the region suffered with commodity prices. Brazil's benchmark Bovespa stock index added 1
Published 18 Sep, 2011 12:00am
Turkish bonds down, shares rise

Turkish bonds down, shares rise

Turkish bond yields ended higher on Friday as investors squared positions ahead of the weekend as a precaution against any possible downgrade in credit ratings for troubled eurozone sovereign debtors. The lira closed slightly weaker, despite the central b
Published 18 Sep, 2011 12:00am
Turkish bonds down, shares rise

Turkish bonds down, shares rise

Turkish bond yields ended higher on Friday as investors squared positions ahead of the weekend as a precaution against any possible downgrade in credit ratings for troubled eurozone sovereign debtors. The lira closed slightly weaker, despite the central b
Published 18 Sep, 2011 12:00am
Selling spree in Asian bonds subsides but outlook wary

Selling spree in Asian bonds subsides but outlook wary

A selling spree in Asian local currency bond markets this week fizzled out on Friday after major central banks launched a joint action to ease dollar funding conditions and stem the spreading eurozone debt crisis. Government bonds in Asia stabilised and c
Published 18 Sep, 2011 12:00am
Selling spree in Asian bonds subsides but outlook wary

Selling spree in Asian bonds subsides but outlook wary

A selling spree in Asian local currency bond markets this week fizzled out on Friday after major central banks launched a joint action to ease dollar funding conditions and stem the spreading eurozone debt crisis. Government bonds in Asia stabilised and c
Published 18 Sep, 2011 12:00am
Treasuries rise on Fed stimulus hopes

Treasuries rise on Fed stimulus hopes

US Treasuries prices rose on Friday, helped by expectations of further monetary accommodation at a Federal Reserve policy meeting next week. Sustaining the recent trend, long-dated bonds outperformed shorter ones. Traders believe the Fed will buy more lon
Published 18 Sep, 2011 12:00am
Treasuries rise on Fed stimulus hopes

Treasuries rise on Fed stimulus hopes

US Treasuries prices rose on Friday, helped by expectations of further monetary accommodation at a Federal Reserve policy meeting next week. Sustaining the recent trend, long-dated bonds outperformed shorter ones. Traders believe the Fed will buy more lon
Published 18 Sep, 2011 12:00am
RIM plunge drives TSX lower

RIM plunge drives TSX lower

A plunge in Research In Motion shares following disappointing results sent Toronto's main stock index tumbling on Friday, offsetting gains in gold stocks. BlackBerry maker RIM was the single biggest drag on the market, sinking 20.1 percent to C$23.50 afte
Published 18 Sep, 2011 12:00am
Indian bond yields, swaps up

Indian bond yields, swaps up

Indian bond yields and swap rates rose on Friday after the central bank raised its key lending rate and stuck to its hawkish stance despite signs of growth cooling amid an uncertain global environment. The Reserve Bank of India (RBI) raised interest rates
Published 18 Sep, 2011 12:00am
Indian bond yields, swaps up

Indian bond yields, swaps up

Indian bond yields and swap rates rose on Friday after the central bank raised its key lending rate and stuck to its hawkish stance despite signs of growth cooling amid an uncertain global environment. The Reserve Bank of India (RBI) raised interest rates
Published 18 Sep, 2011 12:00am
India freezes ONGC share sale

India freezes ONGC share sale

Indian state-run explorer Oil and Natural Gas Corp on Friday deferred a share sale expected to raise as much as $2.5 billion, further slowing the government's divestment program and raising concerns of the impact on India's fiscal deficit. "I think it is
Published 18 Sep, 2011 12:00am
India freezes ONGC share sale

India freezes ONGC share sale

Indian state-run explorer Oil and Natural Gas Corp on Friday deferred a share sale expected to raise as much as $2.5 billion, further slowing the government's divestment program and raising concerns of the impact on India's fiscal deficit. "I think it is
Published 18 Sep, 2011 12:00am
Carlyle investors should prepare for rocky ride

Carlyle investors should prepare for rocky ride

Carlyle is facing a tough market and if recent history is any guide, once it goes public, its shares will be volatile. Investors have been shattered by recent economic turmoil, and that fate has been amplified in the share prices of publicly traded privat
Published 18 Sep, 2011 12:00am
End tax breaks for debt, BIS researchers tell states

End tax breaks for debt, BIS researchers tell states

Governments should consider removing tax breaks accorded to households and corporations for borrowing if they wish to bring debt levels down to manageable levels, a BIS survey said Saturday. The study published on the Bank of International Settlements' we
Published 18 Sep, 2011 12:00am
End tax breaks for debt, BIS researchers tell states

End tax breaks for debt, BIS researchers tell states

Governments should consider removing tax breaks accorded to households and corporations for borrowing if they wish to bring debt levels down to manageable levels, a BIS survey said Saturday. The study published on the Bank of International Settlements' we
Published 18 Sep, 2011 12:00am
Thousands take anti-austerity fight to EU chiefs' meet

Thousands take anti-austerity fight to EU chiefs' meet

Thousands of anti-austerity protesters jammed the streets of this Polish city Saturday, upping the pressure as EU finance ministers cut short two-day talks on the eurozone debt crisis. Organisers from the European Trade Union Confederation (ETUC) said 40,
Published 18 Sep, 2011 12:00am
Europe swipes back after US jibe on debt

Europe swipes back after US jibe on debt

Europe hit back Saturday at US lecturing over its public finances and debt record, insisting the eurozone was better off than comparable global rivals. "Taken as a whole, it is probably better than other major advanced economies," European Central Bank ch
Published 18 Sep, 2011 12:00am
UK's Osborne says time running out for eurozone

UK's Osborne says time running out for eurozone

Britain's finance minister George Osborne warned on Saturday that time was running out for eurozone countries to sort out Europe's debt crisis. "I think everyone here understands the severity of the situation, that's been the theme of all the discussions
Published 18 Sep, 2011 12:00am
India's GVK to pay $1.3 billion for Australian coal assets

India's GVK to pay $1.3 billion for Australian coal assets

Indian infrastructure giant GVK on Saturday said it would pay $1.3 billion for Australia's Hancock coal and infrastructure projects as it lines up energy supplies for upcoming power plants. The purchase of three coal mines, a railway line and port project
Published 18 Sep, 2011 12:00am
Mongolia rejects major coal mine deal

Mongolia rejects major coal mine deal

Mongolia's National Security Council (NSC) has rejected a tentative deal struck in July with foreign firms to develop a vast coal deposit, a presidential spokeswoman said Saturday. The move is likely to deal a blow to US mining giant Peabody Energy, China
Published 18 Sep, 2011 12:00am
China backs Belarus with $1 billion loan

China backs Belarus with $1 billion loan

China has given cash-strapped Belarus a loan of one billion dollars and a grant of some 11 million, the Belarus parliament said Saturday, quoting the head of the Chinese National People's Congress. A statement said Wu Bangguo also announced agreements to
Published 18 Sep, 2011 12:00am
Poland passes law to open up natural gas market

Poland passes law to open up natural gas market

Poland's parliament took one of its first steps towards opening up its natural gas market, passing a bill late on Friday that allows potential rivals to keep required reserves anywhere in the European Union. The new law, which will come into effect after
Published 18 Sep, 2011 12:00am
Progress in Swiss tax rows with US and Italy

Progress in Swiss tax rows with US and Italy

Switzerland might find a compromise in a tax row with the United States, which could be settled with fines for the banks and the transfer of client data, and negotiations with Italy are also progressing, two newspapers reported on Saturday.
Published 18 Sep, 2011 12:00am
Greek Prime Minister postpones US trip over debt crisis

Greek Prime Minister postpones US trip over debt crisis

Greek Prime Minister George Papandreou has postponed a planned visit to New York so he can focus on securing the next tranche of bailout funds, his office said Saturday. Papandreou had taken the decision as "next week is particularly crucial", his office
Published 18 Sep, 2011 12:00am
Greece to offer new liquidity guarantees to banks

Greece to offer new liquidity guarantees to banks

Greece plans to supply banks with loan guarantees of up to 30 billion euros ($41 billion) to help them tap the central bank's emergency funding window and ease their liquidity squeeze, Greek newspaper Kathimerini said on Saturday. Troubled by sovereign de
Published 18 Sep, 2011 12:00am
General Motors, UAW reach first labour deal since bankruptcy

General Motors, UAW reach first labour deal since bankruptcy

General Motors Co and the United Auto Workers union reached a proposed contract for about 48,500 production workers that would create new US factory jobs and include profit-sharing bonuses. The proposed contract, which must be ratified by rank-and-file wo
Published 18 Sep, 2011 12:00am
Europe must do more: Stark

Europe must do more: Stark

ECB Executive Board member Juergen Stark said eurozone countries had to cut deficits to regain market trust, even if austerity measures in crisis-hit Europe could go too far and hurt growth. In an interview with Italian newspaper La Stampa published on Sa
Published 18 Sep, 2011 12:00am
Iran official sees West's troubles curbing oil price

Iran official sees West's troubles curbing oil price

Iran says international crude oil prices will not rise with the onset of the cold season due to the continuing global economic slump, state broadcaster IRIB quoted an official on Saturday as saying. "Due to the existing economic crisis, it is predicted th
Published 18 Sep, 2011 12:00am
UBS chairman says committed to investment bank

UBS chairman says committed to investment bank

UBS is still committed to its investment bank, under fire after one of its London traders was charged over a $2 billion loss, the bank's Chairman Kaspar Villiger told a Swiss newspaper. UBS trader Kweku Adoboli was charged with fraud and false accounting
Published 18 Sep, 2011 12:00am
UAE inflation slows to 18-month low

UAE inflation slows to 18-month low

Inflation in the United Arab Emirates eased to an 18-month low of 0.6 percent year-on-year in August and prices edged down slightly from the previous month helped by a fall in housing costs, data showed on Saturday. Annual inflation in the world's No 4 oi
Published 18 Sep, 2011 12:00am
Hungary ready for fight with banks on FX loans: Prime Minister

Hungary ready for fight with banks on FX loans: Prime Minister

Hungary's government has backup plans at the ready if its controversial new foreign currency mortgage repayment scheme fails an international legal challenge and is ready to fight with banks as long as necessary, the prime minister said.
Published 18 Sep, 2011 12:00am
Santander to issue up to 7.5 billion euros commercial paper

Santander to issue up to 7.5 billion euros commercial paper

Spanish bank Santander has registered with Spain's securities regulator to issue up to 7.5 billion euros ($10.3 billion) of commercial paper. Santander, the world's eighth largest bank by market capitalisation, said in the filing dated Friday that it woul
Published 18 Sep, 2011 12:00am
Santander to issue up to 7.5 billion euros commercial paper

Santander to issue up to 7.5 billion euros commercial paper

Spanish bank Santander has registered with Spain's securities regulator to issue up to 7.5 billion euros ($10.3 billion) of commercial paper. Santander, the world's eighth largest bank by market capitalisation, said in the filing dated Friday that it woul
Published 18 Sep, 2011 12:00am
Seven states join suit against AT&T, T-Mobile deal

Seven states join suit against AT&T, T-Mobile deal

Seven US states threw their support on Friday behind the Department of Justice lawsuit seeking to block AT&T's $39 billion take-over of T-Mobile. The Justice Department said the attorney generals of California, Illinois, Massachusetts, New York, Ohio, Pen
Published 18 Sep, 2011 12:00am
German banks at risk if debt crisis widens: Bafin

German banks at risk if debt crisis widens: Bafin

A widening of the eurozone debt crisis beyond a Greek government default would pose an incalculable risk for Germany's banks, a top German regulator said in an interview. "A Greek government default cannot be seen in isolation," Raimund Roeseler, head of
Published 18 Sep, 2011 12:00am
CSN exits Spain deal; Brazil take-over plan dubious

CSN exits Spain deal; Brazil take-over plan dubious

Brazilian steelmaker CSN's plans to grow through acquisitions encountered multiple setbacks on Friday after a deal in Spain collapsed and its ambitions to buy a stake in Brazilian archrival Usiminas faced a new hurdle. CSN called off the purchase of the c
Published 18 Sep, 2011 12:00am
IN SHORT: Indonesian white sugar output seen 10 percent lower

IN SHORT: Indonesian white sugar output seen 10 percent lower

Indonesia's white sugar production will hit between 2.3 and 2.4 million tonnes this year, or about 10 percent lower than a government estimate, the Indonesian Sugar Association (AGI) said on Friday. Indonesia, Southeast's Asia biggest sugar consumer, has
Published 18 Sep, 2011 12:00am
IN SHORT: Thailand to release rice stocks soon

IN SHORT: Thailand to release rice stocks soon

Thailand will disburse 120,000 tonnes of rice from its current 2 million-tonne stockpile to flood-hit regions and may start selling the rest gradually from the end of September, a senior Commerce Ministry official said on Thursday.
Published 18 Sep, 2011 12:00am
IN SHORT: China copper demand to reach 8.5 million tonnes

IN SHORT: China copper demand to reach 8.5 million tonnes

China's apparent consumption of refined copper will rise by nearly 40 percent to 8.5 million tonnes per year by 2015, an official from the China Non-Ferrous Metals Industry Association said on Thursday.
Published 18 Sep, 2011 12:00am
Lack of moisture to hit Ukraine crop

Lack of moisture to hit Ukraine crop

Lack of moisture in soil across Ukraine could affect the yield of the next year's winter grain crops and reduce the harvest, a senior weather forecaster said on Wednesday as farms started the 2012 winter grain sowing. "The situation is not critical but we
Published 18 Sep, 2011 12:00am
Commodities mixed on worsening economic outlook

Commodities mixed on worsening economic outlook

Commodity prices were mixed last week in volatile trading as markets tracked a worsening economic outlook and rising expectations that Greece faced a default on its debt.
Published 18 Sep, 2011 12:00am
Thai rice prices down, Indian exports weigh

Thai rice prices down, Indian exports weigh

Thai rice prices fell 6 percent on Wednesday on thin demand after India allowed exports of another 2 million tonnes of non-basmati rice, exporters said. The benchmark 100 percent B grade white rice fell to $600 per tonne, the lowest since early August and
Published 18 Sep, 2011 12:00am
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