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Archive - 2011-09-24
Draghi advocates govt reform
Europe

Draghi advocates govt reform

ROME : European Central Bank Governing Council member Mario Draghi said on Saturday that strains in financial markets st
Published 24 Sep, 2011 04:28pm
Dengue deaths mount to 102
Top News

Dengue deaths mount to 102

LAHORE : Dengue fever continued taking its toll as the number of cases reached to alarming level in Punjab on Saturday
Published 24 Sep, 2011 04:15pm
Putin to revisit as president
Europe

Putin to revisit as president

MOSCOW : Russian Prime Minister Vladimir Putin on Saturday agreed to stand for an historic third term as president aft
Published 24 Sep, 2011 03:18pm
Delhi deported US journalist
Asia

Delhi deported US journalist

ISLAMABAD : The Indian authorities have deported a prominent US radio journalist and author, David Barsamian, on his
Published 24 Sep, 2011 01:31pm
India tests nuclear-capable missile
Top News

India tests nuclear-capable missile

BHUBANESHWAR: India tested a medium-range nuclear-capable missile along its eastern coast on Saturday, an official sai
Published 24 Sep, 2011 12:34pm
Tea import increases 0.96pc
Top News

Tea import increases 0.96pc

ISLAMABAD: Tea import into the country during the first two months of current financial year registered an increase of 0
Published 24 Sep, 2011 08:12am
More than 150 dead in Thai flooding
Top News

More than 150 dead in Thai flooding

BANGKOK: Two infant brothers swept away by rising waters in northern Thailand have become the latest victims of two mont
Published 24 Sep, 2011 07:52am
17 killed in attack on Yemen protesters
Top News

17 killed in attack on Yemen protesters

SANAA: Troops loyal to Yemeni President Ali Abdullah Saleh killed at least 17 people in an assault early on Saturday in
Published 24 Sep, 2011 07:46am
Weekly inflation goes up 0.37pc
Top News

Weekly inflation goes up 0.37pc

ISLAMABAD : The Sensitive Price Indicator (SPI), for the week ended on September 22, 2011 , for the lowest income group
Published 24 Sep, 2011 06:44am
10 killed in Orakzai air raid
Top News

10 killed in Orakzai air raid

ORAKZAI: 10 militants killed and three hideouts destroyed in Orakzai after army warplanes raided the area, local governm
Published 24 Sep, 2011 04:56am
Australia welcomes Queen's visit
Asia

Australia welcomes Queen's visit

SYDNEY: Australia Saturday welcomed next month's visit by Queen Elizabeth II to an area affected by this year's huge flo
Published 24 Sep, 2011 04:35am
Zambia's Sata sworn in as president

Zambia's Sata sworn in as president

Zambian opposition leader Michael Sata, a critic of Chinese investment, was sworn in as president on Friday after an upset poll victory that ushered in a smooth handover of power in Africa's biggest copper producer. Sata, 74, swept to victory on the back
Published 24 Sep, 2011 12:00am
US Senate rejects House-passed spending bill

US Senate rejects House-passed spending bill

With aid to victims of natural disasters running out, the Democratic-controlled US Senate on Friday rejected a broad spending bill that had passed the Republican-controlled House of Representatives hours earlier. As voting continued on the measure, Democr
Published 24 Sep, 2011 12:00am
Obama campaign office attacked before LA visit

Obama campaign office attacked before LA visit

A campaign office for President Barack Obama's re-election was attacked by vandals, police said Friday, days before the US leader heads to the West Coast for a visit. An unidentified person or persons shattered windows and a glass door Thursday evening at
Published 24 Sep, 2011 12:00am
China shuts US plant in lead scare

China shuts US plant in lead scare

An American-owned battery plant in China will remain shut until the end of the year over fears it has caused lead poisoning in local children, the Shanghai Daily reported on Friday. The factory, run by US Fortune 500 company Johnson Controls, was one of t
Published 24 Sep, 2011 12:00am
Pope warns Lutherans of Christian challengers

Pope warns Lutherans of Christian challengers

Pope Benedict, visiting the German monastery where Martin Luther lived before launching the Reformation, warned his Lutheran hosts on Friday that what he called "a new form of Christianity" posed challenges to mainline Protestants and Catholics alike.
Published 24 Sep, 2011 12:00am
Shoaib makes sensational claims in his autobiography

Shoaib makes sensational claims in his autobiography

The fastest bowler in the 134-year official history of international cricket - Pakistan's Shoaib Akhtar has made some startling claims in his autobiography entitled 'Controversially Yours'. From the preview of excerpts of Shoaib Akhtar, who holds the reco
Published 24 Sep, 2011 12:00am
FIFA ban Iraq from hosting matches

FIFA ban Iraq from hosting matches

FIFA have barred Iraq from hosting football matches, including qualifiers for the upcoming Olympics and World Cup, until further notice, an Iraqi Football Association (IFA) official told AFP on Thursday. Iraq had previously hosted games at the Francois Ha
Published 24 Sep, 2011 12:00am
Youzhny, Berdych pull out of Malaysian Open

Youzhny, Berdych pull out of Malaysian Open

Malaysian Open organisers confirmed Friday that defending champion Mikhail Youzhny and top seed Tomas Berdych have pulled out of this year's event. Youzhny, who has been suffering from a chronic back injury, will now not take part in the tournament which
Published 24 Sep, 2011 12:00am
Garner claims British cycling gold

Garner claims British cycling gold

Lucy Garner sprinted to victory in the junior women's road race at the road world championships to hand Britain their first gold of the competition Friday. Garner, who celebrated her 17th birthday last week, finished ahead of Belgium's Jessy Druyts and Ch
Published 24 Sep, 2011 12:00am
Li Na blames mixed results on gender

Li Na blames mixed results on gender

China's tennis darling Li Na on Friday blamed her recent up-and-down performance on her gender, saying female players were "not as harsh or as tough" as men as she signed a major sponsorship deal. Li, who became the first Asian to win a Grand Slam title w
Published 24 Sep, 2011 12:00am
Maradona loses cool and kicks out at fan in Dubai

Maradona loses cool and kicks out at fan in Dubai

Diego Maradona, whose latest role in a turbulent career is coaching the United Arab Emirates club side Al-Wasl, was under scrutiny on Friday after kicking out at a fan in Dubai. A video posted on YouTube showed Argentina's 1986 World Cup winning captain a
Published 24 Sep, 2011 12:00am
Mills returns for Black Caps

Mills returns for Black Caps

New Zealand recalled Kyle Mills and included uncapped Doug Bracewell and Dean Brownlie for the one-off away Test against Zimbabwe, the country's cricket board (NZC) said on Friday. The Black Caps will play their first series since they lost in the World C
Published 24 Sep, 2011 12:00am
Geoff Marsh named Sri Lanka's coach

Geoff Marsh named Sri Lanka's coach

Former Australian batsman Geoff Marsh has been named Sri Lanka's coach on a two-year contract, the country's cricket board said Friday. "He (Marsh) takes up his new assignment on September 27," Sri Lanka Cricket said in a statement. "With his vast coachin
Published 24 Sep, 2011 12:00am
Former Pakistani player, officials pay tributes to Pataudi

Former Pakistani player, officials pay tributes to Pataudi

Pakistanis on Friday paid tribute to former Indian captain Mansur Ali Khan Pataudi, saying the death of the charismatic player left a void in the cricket world. Pataudi, nicknamed "The Tiger" for his superb fielding, who died Thursday aged 70, was equally
Published 24 Sep, 2011 12:00am
Injured Federer out of Shanghai Masters

Injured Federer out of Shanghai Masters

Roger Federer pulled out of next month's Shanghai Masters on Friday because of injury with the former world number one insisting he needs to rest after a gruelling year. "After consultation with my team, I've unfortunately decided to pull out of the Shang
Published 24 Sep, 2011 12:00am
'Worried' Mourinho hopes for home comfort

'Worried' Mourinho hopes for home comfort

Ahead of Saturday's visit of Rayo Vallecano, Jose Mourinho has admitted he is "worried" by Real Madrid's form and says they cannot afford to drop any more points cheaply. Since a 4-2 victory over Getafe in their last outing at the Bernabeu, Real have suff
Published 24 Sep, 2011 12:00am
Santa Cruz fires 10-man Real Betis clear in Spain

Santa Cruz fires 10-man Real Betis clear in Spain

Manchester City reject Roque Santa Cruz scored twice as 10-man Real Betis maintained their 100 percent La Liga record with a 4-3 victory over Real Zaragoza on Thursday to open a two-point lead at the top. Santa Cruz, on loan from English giants City, scor
Published 24 Sep, 2011 12:00am
Sterling bounces

Sterling bounces

Sterling rose against the dollar on Friday as investors booked profits on the US currency's rally the previous day, but gains were capped by concerns the global economic outlook is worsening, which kept the pound near a one-year low. Against the euro, ste
Published 24 Sep, 2011 12:00am
Singapore dollar set for record weekly drop

Singapore dollar set for record weekly drop

Offshore funds continued to cut exposure to emerging Asian currencies on Friday as global market turmoil triggered a flight to US dollars, leaving the Singapore dollar set for its worst weekly decline ever and prompting widespread intervention by regional
Published 24 Sep, 2011 12:00am
Yuan tumbles

Yuan tumbles

The Chinese renminbi fell sharply against the dollar in the offshore market on Friday, with investors bailing from what had been one of their most surefire bets on currency appreciation following a big selloff in Asian currencies this week.
Published 24 Sep, 2011 12:00am
Australian and New Zealand dollars plummet

Australian and New Zealand dollars plummet

The Australian and New Zealand dollars nursed heavy losses on Friday amid a global flight from risk, with a pledge from the G20 to preserve financial stability barely enough to get them off multi-month lows. The Aussie dollar was hovering at $1.9774 in la
Published 24 Sep, 2011 12:00am
Dollar climbs broadly

Dollar climbs broadly

The dollar rallied broadly for its best day in more than a month on Thursday and the euro tumbled to an eight-month low as mounting concerns about the global economy drove investors to seek safety and liquidity. A dismal economic outlook from the US Feder
Published 24 Sep, 2011 12:00am
Early afternoon trade in New York: euro rises from eight-month low

Early afternoon trade in New York: euro rises from eight-month low

The euro rose against the dollar on Friday, bouncing off an eight-month low the previous day, on talk the European Central Bank is considering stimulus measures to cope with the eurozone debt crisis. But concerns about a Greek default kept investors wary.
Published 24 Sep, 2011 12:00am
Euro sheds gains in London

Euro sheds gains in London

The euro gave up gains on Friday, trading not far from an eight-month low against the dollar hit the previous day on fresh concerns about European banks' exposure to Greece as worries about a possible Greek default resurfaced. Markets were jittery as Gree
Published 24 Sep, 2011 12:00am
Euro rises in Asia

Euro rises in Asia

The euro rose on profit-taking on Friday after slipping to an eight-month low the previous day, but its gains could prove fleeting after market players were unimpressed by a G20 pledge to preserve financial stability. The euro climbed by as much as 0.8 pe
Published 24 Sep, 2011 12:00am
Indian rupee posts biggest weekly fall in 15 years

Indian rupee posts biggest weekly fall in 15 years

The Indian rupee posted its biggest weekly fall in more than 15 years on Friday on heightened risk aversion amid the possibility of a recession in the developed world, even as it rebounded from a 28-month low on suspected intervention by the central bank.
Published 24 Sep, 2011 12:00am
Euro rates seen lower

Euro rates seen lower

Eurozone short-term interest rates inched lower on Friday and could fall further as talk of a Greek default gathers pace, increasing pressure on the European Central Bank to provide abundant liquidity and possibly slash rates. Traders of all asset classes
Published 24 Sep, 2011 12:00am
Banks drive FTSE recovery

Banks drive FTSE recovery

A strong rebound in banking stocks saw Britain's top share index end higher on Friday after a turbulent week, with investors pinning hopes on more action from the European Central Bank to deal with the region's debt crisis.
Published 24 Sep, 2011 12:00am
European stocks stage late rally

European stocks stage late rally

European shares staged a late rally on Friday following a dismal week, helped by hopes of further measures from the European Central Bank to ease the region's debt crisis, while French banks recovered strongly. BNP Paribas surged 9.8 percent and Societe G
Published 24 Sep, 2011 12:00am
Taiwan stocks at two-year low

Taiwan stocks at two-year low

Taiwan stocks shed 3.55 percent on Friday to close at a two-year low, as investors continued to dump risky assets on worries over a global recession. The TAIEX fell 259.28 points to 7,046.22, after opening down 2.79 percent. The index had fallen over 4.2
Published 24 Sep, 2011 12:00am
Indian shares drop

Indian shares drop

Indian shares fell 1.2 percent on Friday to their lowest close in nearly a month and posted their first weekly loss in four as fears of a recession in the developed world lowered risk appetite. Lenders and energy major Reliance Industries led the fall. So
Published 24 Sep, 2011 12:00am
Seoul shares fall 5.7 percent

Seoul shares fall 5.7 percent

Seoul shares finished down 5.7 percent on Friday, their biggest daily percentage loss in five weeks, with foreign investors taking flight as concerns about global economic stagnation deepened. The Korea Composite Stock Price Index (KOSPI) fell 5.73 percen
Published 24 Sep, 2011 12:00am
Treasuries climb

Treasuries climb

US 30-year Treasuries rallied sharply on Thursday, capping their best two-day gain since the government scrapped long bonds 10 years ago, as investors snapped up safe havens on renewed fears of recession. Downbeat economic data out of Europe and China rev
Published 24 Sep, 2011 12:00am
Treasuries climb

Treasuries climb

US 30-year Treasuries rallied sharply on Thursday, capping their best two-day gain since the government scrapped long bonds 10 years ago, as investors snapped up safe havens on renewed fears of recession. Downbeat economic data out of Europe and China rev
Published 24 Sep, 2011 12:00am
Tokyo markets closed

Tokyo markets closed

Japanese stocks, financial and commodity markets were closed on Friday for a public holiday. Trading resumes on Monday.
Published 24 Sep, 2011 12:00am
US stocks plunge

US stocks plunge

US stocks plunged on Thursday, extending a selloff to four days, as policymakers' failure to arrest global economic stagnation sent markets spiralling downward. The heavy volume of Thursday's plunge signalled investors are selling in anticipation of more
Published 24 Sep, 2011 12:00am
Friday's midday trade: Wall Street rises

Friday's midday trade: Wall Street rises

US stocks edged higher on Friday on talk the European Central Bank might add liquidity to shore up the region's vulnerable banking system but persisting worries about a global recession kept markets volatile. Concerns about the sovereign debt crisis in Eu
Published 24 Sep, 2011 12:00am
Hong Kong shares mark worst week since October 2008: Chinese index slips

Hong Kong shares mark worst week since October 2008: Chinese index slips

Hong Kong shares had their worst week since October 2008, losing 9.2 percent as escalating fears of a global recession caused investors to cut riskier holdings. On Friday, the Hang Seng Index was down 3 percent at one stage and recovered to close off 1.4
Published 24 Sep, 2011 12:00am
Most Southeast Asian stocks fall; Indonesia worst on the week

Most Southeast Asian stocks fall; Indonesia worst on the week

Most Southeast Asian stock markets fell on Friday, led by banks and commodity firms due to the grim outlook for the US economy and worries about Europe's debt crisis, but late buying in oversold markets helped erase some early losses. Slowing business act
Published 24 Sep, 2011 12:00am
Australian shares down

Australian shares down

Australian shares fell 1.6 percent to a fresh 26-month closing low on Friday, with miners hardest hit on worries about waning demand, while a pledge from the G20 to preserve financial stability did little to alleviate concerns. The benchmark S&P/ASX 200 i
Published 24 Sep, 2011 12:00am
UBS board considers investment bank's fate

UBS board considers investment bank's fate

The board of UBS extended on Friday its meeting amid the glamour of Singapore's Grand Prix event to decide the future of its scandal-hit investment bank and CEO Oswald Gruebel, on whose watch it lost $2.3 billion in alleged rogue trading. Top executives a
Published 24 Sep, 2011 12:00am
France cuts long-term growth projections

France cuts long-term growth projections

The French government has cut its economic growth projections for 2013, 2014 and 2015 to 2.0 percent annually from 2.5 percent, following the recent downgrade of its forecasts for this year and next year, footnotes in the 2012 social security bill showed.
Published 24 Sep, 2011 12:00am
Buyout deals slump in turbulent financing Markets

Buyout deals slump in turbulent financing Markets

Tough financing markets and market turbulence are causing sellers to shelve deals mid-auction or postpone sales, drying up private equity dealmaking with little hope of recovery any time soon. In recent weeks, French retail group PPR postponed the sale of
Published 24 Sep, 2011 12:00am
Europe, under fire, seeks to get ahead of crisis

Europe, under fire, seeks to get ahead of crisis

European policymakers showed signs they were preparing new steps to cope with the region's debt crisis even as talk of a possible Greek default gained pace on Friday. World stock markets, which had plunged to a 14-month low on fears the eurozone crisis wa
Published 24 Sep, 2011 12:00am
EU says 420 billion euros injected into banks

EU says 420 billion euros injected into banks

European banks have already received 420 billion euros in funds to help recapitalise and are in a much better shape than three years ago, the European Commission said on Friday. "The recapitalisation of European banks is something that is ongoing, it is s
Published 24 Sep, 2011 12:00am
EU has no plans to speed up bank recapitalisation

EU has no plans to speed up bank recapitalisation

The European Union's financial sector regulator said on Friday that it had no plans to force weak banks to speed up their recapitalisation plans despite a worsening debt crisis. "At this point and time, there are no changes in the timeline that is already
Published 24 Sep, 2011 12:00am
SSE pulls out of UK nuclear consortium

SSE pulls out of UK nuclear consortium

Utility Scottish and Southern Energy said it has pulled out of its UK nuclear new build consortium, raising concerns investors may see the British nuclear industry as unattractive despite government efforts to provide incentives. The Scotland-based utilit
Published 24 Sep, 2011 12:00am
Abbas stakes Palestinian claim to state at UN

Abbas stakes Palestinian claim to state at UN

Palestinian President Mahmoud Abbas asked the United Nations on Friday to recognise a state for his people, but Israeli Prime Minister Benjamin Netanyahu said only direct negotiations could deliver peace. Abbas handed UN Secretary-General Ban Ki-moon a le
Published 24 Sep, 2011 12:00am
China makes Arab trade push on ancient Silk Road

China makes Arab trade push on ancient Silk Road

As European and US economies falter, China is making a trade push with the Arab world, where businessmen say recent political changes will further open up the region to investment. A major Sino-Arab trade forum is currently under way in the northern regio
Published 24 Sep, 2011 12:00am
Abbas stakes Palestinian claim to state at UN

Abbas stakes Palestinian claim to state at UN

Palestinian President Mahmoud Abbas asked the United Nations on Friday to recognise a state for his people, but Israeli Prime Minister Benjamin Netanyahu said only direct negotiations could deliver peace. Abbas handed UN Secretary-General Ban Ki-moon a le
Published 24 Sep, 2011 12:00am
India allows banks, NBFCs to set up infra debt funds

India allows banks, NBFCs to set up infra debt funds

India's central bank will allow banks and non banking financial companies (NBFCs) to set up Infrastructure Debt Funds (IDFs) to accelerate and broaden the funding sources for the country's huge infrastructure spend plans. Finance Minister Pranab Mukherjee
Published 24 Sep, 2011 12:00am
IMF team to hold Article IV consultations: arrival on October 10

IMF team to hold Article IV consultations: arrival on October 10

An Inter-national Monetary Fund delegation will arrive in Pakistan on October 10 to hold Article IV consultations with government officials on economic development and policies. The mission will also interact with country's private sector and members of c
Published 24 Sep, 2011 12:00am
Debt crisis saps French business, consumer morale

Debt crisis saps French business, consumer morale

Europe's debt crisis hit French business and consumer morale harder than expected in September, prompting the country's main business lobby to call for decisive political action to reassure investors and households as economists warned of stagnation. The
Published 24 Sep, 2011 12:00am
IMF team to hold Article IV consultations: arrival on October 10

IMF team to hold Article IV consultations: arrival on October 10

An Inter-national Monetary Fund delegation will arrive in Pakistan on October 10 to hold Article IV consultations with government officials on economic development and policies. The mission will also interact with country's private sector and members of c
Published 24 Sep, 2011 12:00am
US funds reduce exposure to French banks: Fitch

US funds reduce exposure to French banks: Fitch

US funds reduced their exposure to French banks by 19.0 percent in August from the July level, Fitch Ratings said on Friday, amid concern over bank exposure to eurozone debt. Since the end of May, US fund exposure to French banks had fallen by 34.0 percen
Published 24 Sep, 2011 12:00am
IMF team to hold Article IV consultations: arrival on October 10

IMF team to hold Article IV consultations: arrival on October 10

An Inter-national Monetary Fund delegation will arrive in Pakistan on October 10 to hold Article IV consultations with government officials on economic development and policies. The mission will also interact with country''s private sector and members of
Published 24 Sep, 2011 12:00am
US funds reduce exposure to French banks: Fitch

US funds reduce exposure to French banks: Fitch

US funds reduced their exposure to French banks by 19.0 percent in August from the July level, Fitch Ratings said on Friday, amid concern over bank exposure to eurozone debt. Since the end of May, US fund exposure to French banks had fallen by 34.0 percen
Published 24 Sep, 2011 12:00am
Hafeez attends finance ministers meeting

Hafeez attends finance ministers meeting

Finance Minister Dr Abdul Hafeez Shaikh attended a meeting of Commonwealth Finance Ministers and spoke about collaboration within the body and its important role in training. Dr Hafeez also met with Prime Minister of Bahamas, Hubert Ingraham, who is chair
Published 24 Sep, 2011 12:00am
Iraq alters oil law draft to erode Kurdish powers

Iraq alters oil law draft to erode Kurdish powers

Iraq's leadership has changed the draft of a long awaited oil and gas law in a way that would give central government more control over the country's vast crude reserves and provoke a clash with the semi-autonomous Kurdistan region. The law, a copy of whi
Published 24 Sep, 2011 12:00am
Hafeez attends finance ministers meeting

Hafeez attends finance ministers meeting

Finance Minister Dr Abdul Hafeez Shaikh attended a meeting of Commonwealth Finance Ministers and spoke about collaboration within the body and its important role in training. Dr Hafeez also met with Prime Minister of Bahamas, Hubert Ingraham, who is chair
Published 24 Sep, 2011 12:00am
Brussels suggests 'eurobonds' limited to top nations

Brussels suggests 'eurobonds' limited to top nations

The eurozone's exclusive club of nations with top credit ratings should band together to issue a single bond as part of efforts to combat the debt crisis, a top European Union official said. The idea, pushed by European Commission vice president Viviane R
Published 24 Sep, 2011 12:00am
Hafeez attends finance ministers meeting

Hafeez attends finance ministers meeting

Finance Minister Dr Abdul Hafeez Shaikh attended a meeting of Commonwealth Finance Ministers and spoke about collaboration within the body and its important role in training. Dr Hafeez also met with Prime Minister of Bahamas, Hubert Ingraham, who is chair
Published 24 Sep, 2011 12:00am
Brussels suggests 'eurobonds' limited to top nations

Brussels suggests 'eurobonds' limited to top nations

The eurozone's exclusive club of nations with top credit ratings should band together to issue a single bond as part of efforts to combat the debt crisis, a top European Union official said. The idea, pushed by European Commission vice president Viviane R
Published 24 Sep, 2011 12:00am
G20 assurances fail to convince markets

G20 assurances fail to convince markets

Assurances by the world's leading powers that they are moving to stabilise the global economy failed to convince Friday, as markets sank again in impatience for more convincing action. A surprise late-night communiqué from Group of 20 finance ministers an
Published 24 Sep, 2011 12:00am
Syria, unable to buy fuel, tries barter

Syria, unable to buy fuel, tries barter

Syria is seeking to side-step sanctions that are hampering business with foreign firms by bartering crude oil in return for the fuel it desperately needs to keep the country on its feet, traders said on Friday. Although the EU has stopped short of banning
Published 24 Sep, 2011 12:00am
G20 assurances fail to convince markets

G20 assurances fail to convince markets

Assurances by the world's leading powers that they are moving to stabilise the global economy failed to convince Friday, as markets sank again in impatience for more convincing action. A surprise late-night communiqué from Group of 20 finance ministers an
Published 24 Sep, 2011 12:00am
Emerging central banks step up currency support

Emerging central banks step up currency support

Central banks in Asia and Latin America redoubled efforts to defend their currencies this week as fears of slower global growth spurred investors to pull money out of emerging markets. Anxiety rose after the Federal Reserve delivered a gloomy prognosis fo
Published 24 Sep, 2011 12:00am
G20 assurances fail to convince markets

G20 assurances fail to convince markets

Assurances by the world''s leading powers that they are moving to stabilise the global economy failed to convince Friday, as markets sank again in impatience for more convincing action. A surprise late-night communiqué from Group of 20 finance ministers a
Published 24 Sep, 2011 12:00am
US investors urged to avail opportunities

US investors urged to avail opportunities

Finance Minister Dr Abdul Hafeez Shaikh met with top American corporate leaders and investors and invited them to avail tremendous business opportunities that a host of economic sectors offer in Pakistan The minister who travelled to New York at the concl
Published 24 Sep, 2011 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the wholesale grain and seed market on Friday as almost all participants were busy in preparations for Juma prayers.
Published 24 Sep, 2011 12:00am
US investors urged to avail opportunities

US investors urged to avail opportunities

Finance Minister Dr Abdul Hafeez Shaikh met with top American corporate leaders and investors and invited them to avail tremendous business opportunities that a host of economic sectors offer in Pakistan The minister who travelled to New York at the concl
Published 24 Sep, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 137,062 tonnes of cargo including 103,893 tonnes of import cargo, 33,169 tonnes of export cargo and 3,367 loaded & empty containers during last 24 hours ended at 0700 hours on Friday.
Published 24 Sep, 2011 12:00am
US investors urged to avail opportunities

US investors urged to avail opportunities

Finance Minister Dr Abdul Hafeez Shaikh met with top American corporate leaders and investors and invited them to avail tremendous business opportunities that a host of economic sectors offer in Pakistan The minister who travelled to New York at the concl
Published 24 Sep, 2011 12:00am
Argentine dryness seen hurting wheat output

Argentine dryness seen hurting wheat output

Dry weather in Argentina has dimmed the outlook for 2011/12 wheat output although rains in recent days have allowed progress on delayed corn sowing, the government and a grains exchange said on Thursday. Farmers in the South American country, a leading gl
Published 24 Sep, 2011 12:00am
US investors urged to avail opportunities

US investors urged to avail opportunities

Finance Minister Dr Abdul Hafeez Shaikh met with top American corporate leaders and investors and invited them to avail tremendous business opportunities that a host of economic sectors offer in Pakistan The minister who travelled to New York at the concl
Published 24 Sep, 2011 12:00am
Egypt buys 240,000 tonnes of Russian wheat

Egypt buys 240,000 tonnes of Russian wheat

Egypt, the world's largest wheat importer, has bought 240,000 tonnes of Russian wheat for December 11-20 shipment, the main government wheat buyer said on Thursday. Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), gave
Published 24 Sep, 2011 12:00am
Moody's cuts eight Greek banks ratings by 2 notches

Moody's cuts eight Greek banks ratings by 2 notches

Moody's Investors Service on Friday downgraded the ratings of eight Greek banks by two notches each citing a struggling domestic economy and declining deposits among reasons for the move, which was expected by markets. Moody's said the outlooks for all th
Published 24 Sep, 2011 12:00am
Ukraine raises 2011 grain harvest outlook

Ukraine raises 2011 grain harvest outlook

Ukraine has raised its 2011 grain harvest outlook by 1 million-2 million tonnes from the previous estimate of 51 million tonnes, First Deputy Prime Minister Andriy Klyuev said on Thursday. "We will harvest 52-53 million tonnes of grain in 2011," he told t
Published 24 Sep, 2011 12:00am
Moody's cuts eight Greek banks ratings by 2 notches

Moody's cuts eight Greek banks ratings by 2 notches

Moody's Investors Service on Friday downgraded the ratings of eight Greek banks by two notches each citing a struggling domestic economy and declining deposits among reasons for the move, which was expected by markets. Moody's said the outlooks for all th
Published 24 Sep, 2011 12:00am
The world is not what it was, Pakistan is not what it was

The world is not what it was, Pakistan is not what it was

The fire lit by Zulfiqar Mirza's fiery press conference engulfed MQM primarily. His father, Judge Mirza, once described him as unpredictable and perfunctory. His comments came when ZM failed to attend a dinner hosted by Dr Fahmida Mirza for my wife and I
Published 24 Sep, 2011 12:00am
Moody''s cuts eight Greek banks ratings by 2 notches

Moody''s cuts eight Greek banks ratings by 2 notches

Moody''s Investors Service on Friday downgraded the ratings of eight Greek banks by two notches each citing a struggling domestic economy and declining deposits among reasons for the move, which was expected by markets. Moody''s said the outlooks for all
Published 24 Sep, 2011 12:00am
KARACHI CHRONICLE: Chinese in Sindh schools

KARACHI CHRONICLE: Chinese in Sindh schools

The Pakistan Peoples Party-led Sindh government has been in saddle long enough for people to realise they ought not to take seriously what it says or decides to do. Its latest senseless decision is to introduce Chinese language in schools as a compulsory
Published 24 Sep, 2011 12:00am
WTO cuts 2011 world trade growth forecast to 5.8 percent

WTO cuts 2011 world trade growth forecast to 5.8 percent

The World Trade Organisation on Friday cut its 2011 trade growth forecast to 5.8 percent from 6.5 percent as earlier predicted, amid increasing economic uncertainty. "Members must remain vigilant. This is not the time for go-it-alone measures. This is the
Published 24 Sep, 2011 12:00am
ART FACTS: Reflections and refractions

ART FACTS: Reflections and refractions

Maqbool Ahmed is basically a landscape painter and is very much inspired by the legendary landscape painter, Khalid Iqbal. But going through his artworks I sense that his work shows an entirely unique and distinct style other than his teachers. He has acq
Published 24 Sep, 2011 12:00am
WTO cuts 2011 world trade growth forecast to 5.8 percent

WTO cuts 2011 world trade growth forecast to 5.8 percent

The World Trade Organisation on Friday cut its 2011 trade growth forecast to 5.8 percent from 6.5 percent as earlier predicted, amid increasing economic uncertainty. "Members must remain vigilant. This is not the time for go-it-alone measures. This is the
Published 24 Sep, 2011 12:00am
Dengue fever pandemic: A new terrorist of the year 2011

Dengue fever pandemic: A new terrorist of the year 2011

Dengue fever has created havoc in the big cities of Punjab causing mass number of cases and casualties. According to the WHO report on dengue situation 2011, "a total of 9,451 cases and 45 deaths due to dengue infection, with a Case Fatality Rate (CFR) of
Published 24 Sep, 2011 12:00am
WTO cuts 2011 world trade growth forecast to 5.8 percent

WTO cuts 2011 world trade growth forecast to 5.8 percent

The World Trade Organisation on Friday cut its 2011 trade growth forecast to 5.8 percent from 6.5 percent as earlier predicted, amid increasing economic uncertainty. "Members must remain vigilant. This is not the time for go-it-alone measures. This is the
Published 24 Sep, 2011 12:00am
BOOK REVIEW: Understanding Faiz

BOOK REVIEW: Understanding Faiz

It was in mid 2010 that Pakistan Progressive Writers Association decided to celebrate the year 2011 as the centennial of Faiz Ahmed Faiz and appealed to the literary organisations, lovers and admirers of Faiz to join the celebrations as they deem proper.
Published 24 Sep, 2011 12:00am
Pusher tugs, dredge tender inducted into KPT fleet

Pusher tugs, dredge tender inducted into KPT fleet

Prime Minister Yousuf Raza Gilani said on Friday that in a highly competitive environment in global shipping, it has become imperative that the country's ports keep pace with others to ensure their stay in the business of shipping.
Published 24 Sep, 2011 12:00am
It's time to speak up

It's time to speak up

Recently, I had a chance to see Shoaib Mansoor's film 'Bol' in a Canadian Cinema Complex. The topic and presentation of this feature presentation is on par with any coveted Hollywood or Bollywood movie. Without using any offensive language the writer and
Published 24 Sep, 2011 12:00am
Pusher tugs, dredge tender inducted into KPT fleet

Pusher tugs, dredge tender inducted into KPT fleet

Prime Minister Yousuf Raza Gilani said on Friday that in a highly competitive environment in global shipping, it has become imperative that the country's ports keep pace with others to ensure their stay in the business of shipping.
Published 24 Sep, 2011 12:00am
BRIDGE NOTES: Subterfuge

BRIDGE NOTES: Subterfuge

As in all sports, subterfuge is a technique that is used to weave a web of deception around wherein the focus shifts from the reality to the illusion created. This helps the deception to succeed and so gives an enormous advantage to the master of deceptio
Published 24 Sep, 2011 12:00am
Pusher tugs, dredge tender inducted into KPT fleet

Pusher tugs, dredge tender inducted into KPT fleet

Prime Minister Yousuf Raza Gilani said on Friday that in a highly competitive environment in global shipping, it has become imperative that the country''s ports keep pace with others to ensure their stay in the business of shipping.
Published 24 Sep, 2011 12:00am
Illegal tax adjustments: FBR expects to recover billions

Illegal tax adjustments: FBR expects to recover billions

The Federal Board of Revenue (FBR) is expecting to recover billions of rupees, during 2011-12, by making use of reports generated through the computer system of the FBR Member Taxpayer's Audit in which inadmissible credit for each registered person has be
Published 24 Sep, 2011 12:00am
Illegal tax adjustments: FBR expects to recover billions

Illegal tax adjustments: FBR expects to recover billions

The Federal Board of Revenue (FBR) is expecting to recover billions of rupees, during 2011-12, by making use of reports generated through the computer system of the FBR Member Taxpayer's Audit in which inadmissible credit for each registered person has be
Published 24 Sep, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 24 Sep, 2011 12:00am
Illegal tax adjustments: FBR expects to recover billions

Illegal tax adjustments: FBR expects to recover billions

The Federal Board of Revenue (FBR) is expecting to recover billions of rupees, during 2011-12, by making use of reports generated through the computer system of the FBR Member Taxpayer''s Audit in which inadmissible credit for each registered person has b
Published 24 Sep, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 24 Sep, 2011 12:00am
Index loses 83.37 points

Index loses 83.37 points

A bearish trend continued on the Karachi share market on Friday and the KSE-100 index lost 83.37 points to close at 11,606.86 points as investors opted to offload their holdings on available margins. Foreign investors withdrew $1.96 million from the equit
Published 24 Sep, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
Index loses 83.37 points

Index loses 83.37 points

A bearish trend continued on the Karachi share market on Friday and the KSE-100 index lost 83.37 points to close at 11,606.86 points as investors opted to offload their holdings on available margins. Foreign investors withdrew $1.96 million from the equit
Published 24 Sep, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
Index loses 83.37 points

Index loses 83.37 points

A bearish trend continued on the Karachi share market on Friday and the KSE-100 index lost 83.37 points to close at 11,606.86 points as investors opted to offload their holdings on available margins. Foreign investors withdrew $1.96 million from the equit
Published 24 Sep, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
BRIndex30 down 84.15 points

BRIndex30 down 84.15 points

On Friday, the BRIndex30 opened at 8,675.14 points. It touched the intra-day high of 8,679.00 points and low of 8,531.21 points, and closed at 8,590.99 points with a net negative change of -84.15 points, or -0.97 percent lower than previous close. The vol
Published 24 Sep, 2011 12:00am
BRIndex30 down 84.15 points

BRIndex30 down 84.15 points

On Friday, the BRIndex30 opened at 8,675.14 points. It touched the intra-day high of 8,679.00 points and low of 8,531.21 points, and closed at 8,590.99 points with a net negative change of -84.15 points, or -0.97 percent lower than previous close. The vol
Published 24 Sep, 2011 12:00am
Tax cases: High Courts stay orders not to lapse after six months

Tax cases: High Courts stay orders not to lapse after six months

The stay orders granted by different High Courts in tax related cases would not automatically expire after lapse of six months under the Constitutional Provisions of Article 199 (4A). Official sources told Business Recorder here on Friday that the
Published 24 Sep, 2011 12:00am
Tax cases: High Courts stay orders not to lapse after six months

Tax cases: High Courts stay orders not to lapse after six months

The stay orders granted by different High Courts in tax related cases would not automatically expire after lapse of six months under the Constitutional Provisions of Article 199 (4A). Official sources told Business Recorder here on Friday that the
Published 24 Sep, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
Tax cases: High Courts stay orders not to lapse after six months

Tax cases: High Courts stay orders not to lapse after six months

The stay orders granted by different High Courts in tax related cases would not automatically expire after lapse of six months under the Constitutional Provisions of Article 199 (4A). Official sources told Business Recorder here on Friday that the
Published 24 Sep, 2011 12:00am
Relief goods import: Prime Minister grants demurrage waiver

Relief goods import: Prime Minister grants demurrage waiver

Prime Minister Yousuf Raza Gilani has authorised a special waiver, in demurrage, for relief goods coming from foreign countries and said that it would ensure clearance of the relief goods without delay. Speaking at the inaugural ceremony of reconstructed
Published 24 Sep, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (September 23, 2011).
Published 24 Sep, 2011 12:00am
Relief goods import: Prime Minister grants demurrage waiver

Relief goods import: Prime Minister grants demurrage waiver

Prime Minister Yousuf Raza Gilani has authorised a special waiver, in demurrage, for relief goods coming from foreign countries and said that it would ensure clearance of the relief goods without delay. Speaking at the inaugural ceremony of reconstructed
Published 24 Sep, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
Relief goods import: Prime Minister grants demurrage waiver

Relief goods import: Prime Minister grants demurrage waiver

Prime Minister Yousuf Raza Gilani has authorised a special waiver, in demurrage, for relief goods coming from foreign countries and said that it would ensure clearance of the relief goods without delay. Speaking at the inaugural ceremony of reconstructed
Published 24 Sep, 2011 12:00am
Communication lines remain open with Pakistan's army: Pentagon

Communication lines remain open with Pakistan's army: Pentagon

The Pentagon said on Friday communication lines with Pakistan's military remain open despite acrimony over US accusations that Islamabad is behind violent extremists targeting American troops. Despite serious disagreement, the US military had no intention
Published 24 Sep, 2011 12:00am
Communication lines remain open with Pakistan's army: Pentagon

Communication lines remain open with Pakistan's army: Pentagon

The Pentagon said on Friday communication lines with Pakistan's military remain open despite acrimony over US accusations that Islamabad is behind violent extremists targeting American troops. Despite serious disagreement, the US military had no intention
Published 24 Sep, 2011 12:00am
Pakistan warns US might lose ally

Pakistan warns US might lose ally

Pakistan warned the United States it risks losing an ally if it continued to accuse Islamabad of playing a double game in the war against militancy, escalating the crisis in relations between the two countries. Foreign Minister Hina Rabbani Khar was respo
Published 24 Sep, 2011 12:00am
Pakistan warns US might lose ally

Pakistan warns US might lose ally

Pakistan warned the United States it risks losing an ally if it continued to accuse Islamabad of playing a double game in the war against militancy, escalating the crisis in relations between the two countries. Foreign Minister Hina Rabbani Khar was respo
Published 24 Sep, 2011 12:00am
US should avoid sending wrong messages: Prime Minister

US should avoid sending wrong messages: Prime Minister

Prime Minister Yousuf Raza Gilani has said that the US should avoid sending wrong messages that could affect relations between the two countries. Talking to reporters after inaugural ceremony of three reconstructed berths of Karachi Port Trust at East Wha
Published 24 Sep, 2011 12:00am
US should avoid sending wrong messages: Prime Minister

US should avoid sending wrong messages: Prime Minister

Prime Minister Yousuf Raza Gilani has said that the US should avoid sending wrong messages that could affect relations between the two countries. Talking to reporters after inaugural ceremony of three reconstructed berths of Karachi Port Trust at East Wha
Published 24 Sep, 2011 12:00am
Kayani slams baseless Mullen comments

Kayani slams baseless Mullen comments

Chief of Army Staff General Ashfaq Parvez Kayani on Friday said US accusations that it is running a proxy war and supporting the al Qaeda-linked Haqqani network are "very unfortunate and not based on facts". Responding to scathing criticism by the US mili
Published 24 Sep, 2011 12:00am
Kayani slams baseless Mullen comments

Kayani slams baseless Mullen comments

Chief of Army Staff General Ashfaq Parvez Kayani on Friday said US accusations that it is running a proxy war and supporting the al Qaeda-linked Haqqani network are "very unfortunate and not based on facts". Responding to scathing criticism by the US mili
Published 24 Sep, 2011 12:00am
North Waziristan: clean-up operation on the cards?

North Waziristan: clean-up operation on the cards?

The top brass of Pakistan army is said to be contemplating whether an operation clean-up in North Waziristan has become inevitable to arrest a serious deterioration in Pakistan-US relations. The situation in the tribal areas, particularly in North Waziris
Published 24 Sep, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
North Waziristan: clean-up operation on the cards?

North Waziristan: clean-up operation on the cards?

The top brass of Pakistan army is said to be contemplating whether an operation clean-up in North Waziristan has become inevitable to arrest a serious deterioration in Pakistan-US relations. The situation in the tribal areas, particularly in North Waziris
Published 24 Sep, 2011 12:00am
Businessmen, banks contribute generously for flood relief

Businessmen, banks contribute generously for flood relief

Top business bodies and banks, during the meeting with President Asif Ali Zardari at Bilawal House here on Friday, expressed their deep concern over the colossal losses in flood affected areas of Sindh, and generously announced contributions for their rel
Published 24 Sep, 2011 12:00am
Businessmen, banks contribute generously for flood relief

Businessmen, banks contribute generously for flood relief

Top business bodies and banks, during the meeting with President Asif Ali Zardari at Bilawal House here on Friday, expressed their deep concern over the colossal losses in flood affected areas of Sindh, and generously announced contributions for their rel
Published 24 Sep, 2011 12:00am
Businessmen, banks contribute generously for flood relief

Businessmen, banks contribute generously for flood relief

Top business bodies and banks, during the meeting with President Asif Ali Zardari at Bilawal House here on Friday, expressed their deep concern over the colossal losses in flood affected areas of Sindh, and generously announced contributions for their rel
Published 24 Sep, 2011 12:00am
Saleh returns to Yemen, US demands he step down

Saleh returns to Yemen, US demands he step down

President Ali Abdullah Saleh returned to Yemen after a three-month absence calling for an end to heavy fighting on Friday, but opponents said they feared more bloodshed and the United States demanded he relinquish power. Saleh, who went to neighbouring Sa
Published 24 Sep, 2011 12:00am
Saleh returns to Yemen, US demands he step down

Saleh returns to Yemen, US demands he step down

President Ali Abdullah Saleh returned to Yemen after a three-month absence calling for an end to heavy fighting on Friday, but opponents said they feared more bloodshed and the United States demanded he relinquish power. Saleh, who went to neighbouring Sa
Published 24 Sep, 2011 12:00am
LSE index loses 20.55 points

LSE index loses 20.55 points

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday and the equities registered declines amid decreased trading turnover due to lacking investors' interest who remained on the sideline. The LSE-25 index lost 20.55 points and was ended
Published 24 Sep, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Friday (September 23, 2011).

Published 24 Sep, 2011 12:00am
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