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Archive - 2011-10-02
Egypt to rely less on local banks
Top News

Egypt to rely less on local banks

CAIRO : Egypt 's government is looking at ways to reduce its dependence on borrowing from local banks because it is a b
Published 02 Oct, 2011 04:31pm
Guinea president offer to talks
Africa

Guinea president offer to talks

CONAKRY : Guinea 's President Alpha Conde said he is willing to open talks with the West African state's opposition,
Published 02 Oct, 2011 04:01pm
Egypt sells 6.5bn Eg pounds
Financial

Egypt sells 6.5bn Eg pounds

CAIRO : Egypt 's central bank sold 6.5 billion Egyptian pounds ($1.09 billion) in domestic treasury bills on Sunday, th
Published 02 Oct, 2011 03:48pm
Oil income to cover spending: minister
Top News

Oil income to cover spending: minister

DUBAI : Saudi Arabian Finance Minister Ibrahim al-Assaf said increased oil-driven revenues will cover the higher spendin
Published 02 Oct, 2011 02:22pm
Porsche sells German castle
Industry

Porsche sells German castle

BERLIN: German luxury sportscar maker Porsche is putting up for sale a Bavarian castle snapped up for six million euros
Published 02 Oct, 2011 09:49am
Rise of gold stalls on the dollar
Top News

Rise of gold stalls on the dollar

LONDON: With markets falling and prospects for world growth souring, everything should be in place to send the price of
Published 02 Oct, 2011 05:34am
Rs 8.35 billion AJK Council budget unveiled

Rs 8.35 billion AJK Council budget unveiled

Kashmir Affairs Minister Mian Manzoor Wattoo on Saturday presented Rs 8.352 billion Azad Jammu & Kashmir (AJK) Council budget for the fiscal year 2011-12.
Published 02 Oct, 2011 12:00am
Protracted power shortage cripples economy: Nepra

Protracted power shortage cripples economy: Nepra

A protracted power shortage in the country has crippled the economy, as it has almost brought the industrial wheel to a standstill, resultantly export targets have not been met, besides rendering thousands of industrial workers jobless. According to Natio
Published 02 Oct, 2011 12:00am
Protracted power shortage cripples economy: Nepra

Protracted power shortage cripples economy: Nepra

A protracted power shortage in the country has crippled the economy, as it has almost brought the industrial wheel to a standstill, resultantly export targets have not been met, besides rendering thousands of industrial workers jobless. According to Natio
Published 02 Oct, 2011 12:00am
Protracted power shortage cripples economy: Nepra

Protracted power shortage cripples economy: Nepra

A protracted power shortage in the country has crippled the economy, as it has almost brought the industrial wheel to a standstill, resultantly export targets have not been met, besides rendering thousands of industrial workers jobless. According to Natio
Published 02 Oct, 2011 12:00am
Pakistan-US tension shows signs of ebbing: Grossman due on Friday

Pakistan-US tension shows signs of ebbing: Grossman due on Friday

Obama Administration is dispatching a senior diplomat to Pakistan on Friday to share with Pakistan side US apprehensions about the Haqqani Network as well as persuade Afghanistan to continue trilateral talks with the US and Pakistan on counter terrorism m
Published 02 Oct, 2011 12:00am
Pakistan-US tension shows signs of ebbing: Grossman due on Friday

Pakistan-US tension shows signs of ebbing: Grossman due on Friday

Obama Administration is dispatching a senior diplomat to Pakistan on Friday to share with Pakistan side US apprehensions about the Haqqani Network as well as persuade Afghanistan to continue trilateral talks with the US and Pakistan on counter terrorism m
Published 02 Oct, 2011 12:00am
Pakistan has no link with Rabbani killing: Gilani

Pakistan has no link with Rabbani killing: Gilani

Prime Minister Yousuf Raza Gilani on Saturday categorically stated that Pakistan has no link with the assassination of Burhanuddin Rabbani and said that the Afghan President, Hamid Karzai has some misunderstanding on this issue. "I want to convey to Afgha
Published 02 Oct, 2011 12:00am
Pakistan has no link with Rabbani killing: Gilani

Pakistan has no link with Rabbani killing: Gilani

Prime Minister Yousuf Raza Gilani on Saturday categorically stated that Pakistan has no link with the assassination of Burhanuddin Rabbani and said that the Afghan President, Hamid Karzai has some misunderstanding on this issue. "I want to convey to Afgha
Published 02 Oct, 2011 12:00am
Islamabad needs to be third party: Karzai

Islamabad needs to be third party: Karzai

Afghan President Hamid Karzai says trying to talk peace with insurgents is futile and that neighbouring Pakistan - not the Taliban - needs to be the other party in the peace talks. The president's remarks came on a video recording that his office released
Published 02 Oct, 2011 12:00am
Islamabad needs to be third party: Karzai

Islamabad needs to be third party: Karzai

Afghan President Hamid Karzai says trying to talk peace with insurgents is futile and that neighbouring Pakistan - not the Taliban - needs to be the other party in the peace talks. The president's remarks came on a video recording that his office released
Published 02 Oct, 2011 12:00am
Zardari asks US to resume 'serious' dialogue

Zardari asks US to resume 'serious' dialogue

President Asif Ali Zardari on Saturday asked the United States to resume a "serious" dialogue with Pakistan on way forward in the relationship and counter-terror efforts, both of which have been hurt by recent anti-Pakistan rhetoric emanating from Washing
Published 02 Oct, 2011 12:00am
Zardari asks US to resume 'serious' dialogue

Zardari asks US to resume 'serious' dialogue

President Asif Ali Zardari on Saturday asked the United States to resume a "serious" dialogue with Pakistan on way forward in the relationship and counter-terror efforts, both of which have been hurt by recent anti-Pakistan rhetoric emanating from Washing
Published 02 Oct, 2011 12:00am
Durrani made IB chief

Durrani made IB chief

Inspector General of Police (Sindh) Wajid Durrani was appointed Director General of Intelligence Bureau (IB) in place of Javed Noor, a private TV channel reported. According to the channel, Durrani will assume the new charge on Monday and decision about a
Published 02 Oct, 2011 12:00am
Durrani made IB chief

Durrani made IB chief

Inspector General of Police (Sindh) Wajid Durrani was appointed Director General of Intelligence Bureau (IB) in place of Javed Noor, a private TV channel reported. According to the channel, Durrani will assume the new charge on Monday and decision about a
Published 02 Oct, 2011 12:00am
India to deploy squadron of Sukhoi aircraft along border

India to deploy squadron of Sukhoi aircraft along border

Indian Air Force will deploy a squadron of Sukhoi SU-30 MKI fighter aircraft along Pakistani border at the Jodhpur airbase in the Rajasthan desert, an Indian newspaper reported on Saturday. The newspaper "Outlook" said the squadron of air Sukhois would be
Published 02 Oct, 2011 12:00am
India to deploy squadron of Sukhoi aircraft along border

India to deploy squadron of Sukhoi aircraft along border

Indian Air Force will deploy a squadron of Sukhoi SU-30 MKI fighter aircraft along Pakistani border at the Jodhpur airbase in the Rajasthan desert, an Indian newspaper reported on Saturday. The newspaper "Outlook" said the squadron of air Sukhois would be
Published 02 Oct, 2011 12:00am
Pakistani militant commander killed

Pakistani militant commander killed

Pakistani and US officials say an American missile strike near the Afghan border has killed an al Qaida-linked Pakistani militant commander. A US official says Ullah served as deputy to Afghan warlord Maulvi Nazir, who leads a group of militants in the Pa
Published 02 Oct, 2011 12:00am
Pakistani militant commander killed

Pakistani militant commander killed

Pakistani and US officials say an American missile strike near the Afghan border has killed an al Qaida-linked Pakistani militant commander. A US official says Ullah served as deputy to Afghan warlord Maulvi Nazir, who leads a group of militants in the Pa
Published 02 Oct, 2011 12:00am
Nine more fall prey to dengue fever in Lahore

Nine more fall prey to dengue fever in Lahore

Another nine persons including four women died of dengue virus in the provincial metropolis during the last 24 hours. People of all age groups having complaints of fever are approaching different hospitals for medical tests and treatment. Long queues have
Published 02 Oct, 2011 12:00am
Nine more fall prey to dengue fever in Lahore

Nine more fall prey to dengue fever in Lahore

Another nine persons including four women died of dengue virus in the provincial metropolis during the last 24 hours. People of all age groups having complaints of fever are approaching different hospitals for medical tests and treatment. Long queues have
Published 02 Oct, 2011 12:00am
Four policemen killed by roadside bomb

Four policemen killed by roadside bomb

At least four policemen were killed Saturday when their vehicle was hit by a roadside bomb in north-west, police and health officials said. "We have received four dead and 10 injured in our medical facilities," Imran Khan, hospital official in neighbourin
Published 02 Oct, 2011 12:00am
Four policemen killed by roadside bomb

Four policemen killed by roadside bomb

At least four policemen were killed Saturday when their vehicle was hit by a roadside bomb in north-west, police and health officials said. "We have received four dead and 10 injured in our medical facilities," Imran Khan, hospital official in neighbourin
Published 02 Oct, 2011 12:00am
Wall Street protesters march on police

Wall Street protesters march on police

Protesters who have camped out near Wall Street for two weeks marched on Friday on police headquarters in Manhattan over what they viewed as a heavy-handed police response to a previous demonstration. The Occupy Wall Street movement, whose members have vo
Published 02 Oct, 2011 12:00am
Wall Street protesters march on police

Wall Street protesters march on police

Protesters who have camped out near Wall Street for two weeks marched on Friday on police headquarters in Manhattan over what they viewed as a heavy-handed police response to a previous demonstration. The Occupy Wall Street movement, whose members have vo
Published 02 Oct, 2011 12:00am
Industrial bodies decide not to pay electricity bill

Industrial bodies decide not to pay electricity bill

The industrial associations have decided not to pay Karachi Electric Supply Company (KESC) bills and deposit the same as per the due date to respective associations and this would be paid only after immediate withdrawal of load shedding and long-term guar
Published 02 Oct, 2011 12:00am
Industrial bodies decide not to pay electricity bill

Industrial bodies decide not to pay electricity bill

The industrial associations have decided not to pay Karachi Electric Supply Company (KESC) bills and deposit the same as per the due date to respective associations and this would be paid only after immediate withdrawal of load shedding and long-term guar
Published 02 Oct, 2011 12:00am
Industrial bodies decide not to pay electricity bill

Industrial bodies decide not to pay electricity bill

The industrial associations have decided not to pay Karachi Electric Supply Company (KESC) bills and deposit the same as per the due date to respective associations and this would be paid only after immediate withdrawal of load shedding and long-term guar
Published 02 Oct, 2011 12:00am
Aga Khan ordered to give $80 million to former wife

Aga Khan ordered to give $80 million to former wife

The French press is calling it the most expensive divorce settlement in the country's history: A court has ordered the Aga Khan to pay his ex-wife $80 million. That's in the ballpark of what Madonna paid Guy Ritchie when their marriage ended. The diva rep
Published 02 Oct, 2011 12:00am
Aga Khan ordered to give $80 million to former wife

Aga Khan ordered to give $80 million to former wife

The French press is calling it the most expensive divorce settlement in the country's history: A court has ordered the Aga Khan to pay his ex-wife $80 million. That's in the ballpark of what Madonna paid Guy Ritchie when their marriage ended. The diva rep
Published 02 Oct, 2011 12:00am
Farmers advised to prepare land for Rabi crops

Farmers advised to prepare land for Rabi crops

The Met Office has advised the farmers to prepare their lands especially those of the rainy areas for the sowing of coming Rabi crops on time, particularly the wheat with a view to scale down the loss in yield because of the late sowing.
Published 02 Oct, 2011 12:00am
Shahi Syed's oil tanker hijacked, ornaments looted

Shahi Syed's oil tanker hijacked, ornaments looted

Armed robbers on Saturday robbed gold ornaments of millions of rupees and took away an oil tanker owned by President ANP Sindh Shahi Syed in separate incidents at various parts of the metropolis. According to the police, an oil tanker (JP-8213) owned by P
Published 02 Oct, 2011 12:00am
'BESOS means benevolence'

'BESOS means benevolence'

Whenever and wherever the names of Zulfikar Ali Bhutto (ZAB) Shaheed and Benazir Bhutto (BB) Shaheed are discussed, the first impression that is formed in one's mind is that of two highly humane personalities whose motto and mission of life was empowermen
Published 02 Oct, 2011 12:00am
CDGK launches anti-encroachment drive

CDGK launches anti-encroachment drive

City District Government Karachi has launched anti encroachments drive to recover all grabbed land from the possession of land mafia. The anti encroachments squad has so far recovered 4,292 acres of land costing Rs 29billion and 124 persons have been take
Published 02 Oct, 2011 12:00am
Pakistani educators: gateways of learning opened by US Bureau

Pakistani educators: gateways of learning opened by US Bureau

"The PELI-PSU experience has opened new windows of learning and understanding for me. Through this programme, I have understood in-depth effective teacher-student relationships, educational methodologies and the fact that teaching and learning is not limi
Published 02 Oct, 2011 12:00am
'PLASTI & PACK 2011' exhibition concludes

'PLASTI & PACK 2011' exhibition concludes

The three-day 'Plastic Printing and Packaging Technology Exhibition' concluded at Lahore Expo Centre on a very successful note. A large number of industry visitors visited the exhibition where more than 100 leading manufacturers from 19 countries showcase
Published 02 Oct, 2011 12:00am
CPNE vows support to army

CPNE vows support to army

Expressing a profound sense of concern over scathing and unprecedented public allegations by the US against Pakistan, Council of Pakistan Newspaper Editors (CPNE) President Jameel Ather said that no foreign country has any right to give dictation to the P
Published 02 Oct, 2011 12:00am
Flood-affected people: NBP distributes 24,750 ration bags

Flood-affected people: NBP distributes 24,750 ration bags

Being the nation's bank, National Bank of Pakistan (NBP) is always the first corporate entity to come forward and help the nation whenever a calamity hits its countrymen. NBP has cumulatively distributed more than 24,750 rations bags, 7,554 tents in all t
Published 02 Oct, 2011 12:00am
Sindh Bank dispatches relief goods for flood victims

Sindh Bank dispatches relief goods for flood victims

Playing its role in the efforts being made for relief and rehabilitation of people of Sindh hit by the recent colossal rains, Sindh Bank has dispatched its third tranche of relief goods comprising tents and food items. This brings the total of 6,350 tents
Published 02 Oct, 2011 12:00am
BMC principal denies death threats against staff

BMC principal denies death threats against staff

Rumours shocked the city that around 300 staff members of Benazir Bhutto Medical College, Lyari, including professors, doctors and clerics, had stopped working on Saturday after they received life threats. But, the academic management denied such reports
Published 02 Oct, 2011 12:00am
Four killed in separate incidents

Four killed in separate incidents

At least four persons were killed in separate incidents in various parts of the metropolis here on Saturday. According to police, a man was shot dead while two others including a woman were injured during an armed clash that sparked at Omar Jogi Goth in t
Published 02 Oct, 2011 12:00am
International experts in Manila for 10th Asian Forum on CSR

International experts in Manila for 10th Asian Forum on CSR

International experts in Corporate Social Responsibility (CSR) converge in Manila on October 18 and 19, 2011 at the EDSA Shangri-La Hotel for the 10th Asian Forum on Corporate Social Responsibility (AFCSR), the largest and most significant conference on C
Published 02 Oct, 2011 12:00am
Five injured in hand-grenade attacks

Five injured in hand-grenade attacks

As many as two persons injured by a hand grenade that was hurled at a medical store located in Qasba Colony, Orangi Town, on late Saturday. According to the police, the incident took place at Ali Medical Store where unknown riders threw a hand grenade and
Published 02 Oct, 2011 12:00am
World Space Week celebrations from October 4

World Space Week celebrations from October 4

World Space Week (WSW) is an international celebration of the contribution that space science and technology makes to the betterment of the human condition. The United Nations has declared World Space Week as October 4-10 annually. It is celebrated in som
Published 02 Oct, 2011 12:00am
Protests held against death sentence to Qadri

Protests held against death sentence to Qadri

A large number of people held protests in the provincial capital right after the death sentence to Mumtaz Qadri, who killed Salman Taseer was announced on Saturday. Protestors marched from the Data Darbar Lahore to the Faisal Chowk, Mall Road. Stick holdi
Published 02 Oct, 2011 12:00am
'Progress made in Shahbaz abduction case'

'Progress made in Shahbaz abduction case'

Provincial Law Minister Rana Sanaullah Khan on Saturday said progress has been made in the abduction case of Shahbaz Taseer, the son of slain Governor Salman Taseer. Shahbaz was abducted in Gulberg area while he was on his way to office on August 26, 2011
Published 02 Oct, 2011 12:00am
Anti-dengue fever: five-year strategy draft forwarded by WHO

Anti-dengue fever: five-year strategy draft forwarded by WHO

The initial draft of five-year strategy to overcome the rapidly spreading dengue fever has been forwarded by the World Health Organisation (WHO) and the provincial health experts to the Punjab government, while the final version of the strategy would be t
Published 02 Oct, 2011 12:00am
Indonesian medical experts welcomed

Indonesian medical experts welcomed

Punjab Chief Minister Muhammad Shahbaz Sharif welcomed a 20-member medical experts' team from Indonesia in Lahore on Saturday. Senator Pervaiz Rashid, Members National Assembly Muhammad Afzal Khokhar, Mian Marghoob Ahmad, Secretaries of Health, Higher Edu
Published 02 Oct, 2011 12:00am
Fuel shortage exacerbates power shortfall

Fuel shortage exacerbates power shortfall

Shortage of fuel supply to Independent Power Producers (IPPs) has worsened power crisis in the country, taking shortfall to 7000MW during the last 24 hours. According to Pepco daily brief total shortfall is 6020MW. Some media reports suggest that the Pepc
Published 02 Oct, 2011 12:00am
Sindh member to take Irsa Chairman's charge from October 16

Sindh member to take Irsa Chairman's charge from October 16

Sindh would take charge of Chairman of Indus River System Authority (Irsa) from October 16, 2011, sources told Business Recorder on Saturday. Irsa is a federal body which consists on five members: one each from Capital (Islamabad) and the four prov
Published 02 Oct, 2011 12:00am
Essential items' prices maintain uptrend

Essential items' prices maintain uptrend

Prices of most of the essential kitchen items registered substantial increase during last one month, a survey carried out by Business Recorder showed. According to traders at Rawalpindi/Islamabad wholesale and retail markets, during the past month
Published 02 Oct, 2011 12:00am
Pak-Turkey ties to be converted into trade, investment: Shahbaz

Pak-Turkey ties to be converted into trade, investment: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif said that there is a need of converting the existing brotherly ties between Pakistan and Turkey into trade and investment. He said that the agreement signed between the Punjab government and Istanbul Municipal
Published 02 Oct, 2011 12:00am
Apprehension expressed over accumulated rainwater

Apprehension expressed over accumulated rainwater

Traders on Saturday showed apprehension over the unhygienic conditions of markets, saying that the city administration has failed to pump-out accumulated rainwater from there. Talking to Business Recorder, Chairman All Karachi Tajir Ittehad, Muhammad Atiq
Published 02 Oct, 2011 12:00am
KPHA (Amendments) Bill 2011 published as an Act

KPHA (Amendments) Bill 2011 published as an Act

Khyber Pakhtunkhwa Highways Authority (KPHA) (Amendments) Bill 2011 has published as an Act of the Provincial Legislature of the Khyber Pakhtunkhwa here on Saturday. The Khyber Pakhtunkhwa Legislative Assembly had adopted the Khyber Pakhtunkhwa Highways A
Published 02 Oct, 2011 12:00am
Pakistan, India set to boost trade ties: Puri

Pakistan, India set to boost trade ties: Puri

The visit of Pakistan's biggest-ever trade delegation to India and bilateral talks between the two countries has been historic and would result in bringing about positive initiatives. This was stated by Chief Executive TDAP, Tariq Iqbal Puri while talking
Published 02 Oct, 2011 12:00am
POL prices: Nawaz strongly condemns hike

POL prices: Nawaz strongly condemns hike

Pakistan Muslim League-Nawaz (PML-N) President Mian Nawaz Sharif has strongly condemned the increase in petroleum products' prices, directing his party to put the hike in POL prices and power load shedding on top of agenda items of October 03, 2011, centr
Published 02 Oct, 2011 12:00am
Waheed elected new chairman of PVMA

Waheed elected new chairman of PVMA

Pakistan Vanaspati Manufactures Association (PVMA) has elected Sheikh Abdul Waheed as new Chairman of the PVMA here on Saturday. Sources told Business Recorder here on Saturday that annual elections of the PVMA for new fiscal (2011-12) have been he
Published 02 Oct, 2011 12:00am
'Research cell for eradication of dengue virus being set up'

'Research cell for eradication of dengue virus being set up'

Punjab Chief Minister Muhammad Shahbaz Sharif has said that a comprehensive long term preventive and curative plan against dengue virus in the province should be evolved by October 15 and all out resources would be provided for implementation of this plan
Published 02 Oct, 2011 12:00am
Flood-hit areas: ginners seek special package

Flood-hit areas: ginners seek special package

Ginners' community stands with the nation and the country for its integrity, solidarity, prestige and security, and it would not back out of any kind of sacrifices for the defence and survival of the country, said Amanullah Qureshi, the newly elected Chai
Published 02 Oct, 2011 12:00am
Aptma sends relief goods to flood victims

Aptma sends relief goods to flood victims

All Pakistan Textile Mills Association (Aptma) dispatched relief goods for flood-hit people of Sindh on Saturday. A convoy of 24 trucks, including 14 from Aptma Sindh and 10 from Aptma Punjab left for flood-hit areas of Sindh. The relief packs include ess
Published 02 Oct, 2011 12:00am
Prime Minister lays Motorway section foundation

Prime Minister lays Motorway section foundation

Prime Minister Yousuf Raza Gilani on Saturday laid the foundation stone of 57 km long Multan-Khanewal section of the Multan-Faisalabad Motorway, to be built at a cost of Rs 14 billion. The Prime Minister was accompanied by Punjab Governor Latif Khan Khosa
Published 02 Oct, 2011 12:00am
'Global Day of Older Persons' observed

'Global Day of Older Persons' observed

International Day of Older Persons was observed here like other parts of the globe including Pakistan today (Saturday) in a befitting manner to remember the contributions of senior citizens to their families and communities.
Published 02 Oct, 2011 12:00am
GCU to start new disciplines

GCU to start new disciplines

Vice-chancellor Government College University (GCU) Professor Dr Muhammad Khaliqur-Rehman has said that GCU will try to establish new state of the art laboratories and will start new disciplines with their own resources. He was talking to the delegation o
Published 02 Oct, 2011 12:00am
'Increase in POL prices' to hit trade, industry adversely'

'Increase in POL prices' to hit trade, industry adversely'

Lahore Chamber of Commerce and Industry Saturday strongly criticised huge increase in petroleum products, saying it would hit trade and industry hard besides jacking up the graph of inflation. "Had a little attention been given towards the construction of
Published 02 Oct, 2011 12:00am
Business community rejects POL prices' hike

Business community rejects POL prices' hike

The business community has rejected the recent increase in the petroleum prices and demanded of the government to withdraw Rs 4.15 and Rs 1.51 per litre increase in petroleum and diesel prices respectively as the bulk increase is bound to shatter all segm
Published 02 Oct, 2011 12:00am
Nisar Shekhani elected APTPMA chairman

Nisar Shekhani elected APTPMA chairman

On conclusion of the annual election for 2011-12 of All Pakistan Textile Processing Mills Association (APTPMA), Muhammad Nisar Shekhani of Razak Silk Mills, Karachi, was elected Chairman, while Aftab Ahmed of Hilal Textile Corporation, Faisalabad, Muhamma
Published 02 Oct, 2011 12:00am
Unscheduled loadshedding irks people in twin cities

Unscheduled loadshedding irks people in twin cities

The unannounced and unscheduled electricity loadshedding in wake of power shortfall in the country has made the life and daily routine of people miserable in twin cities of Rawalpindi and Islamabad. The residents have been facing the long hours of loadshe
Published 02 Oct, 2011 12:00am
2.5 million flood victims need safe drinking water: UN

2.5 million flood victims need safe drinking water: UN

The United Nations Agencies have estimated that 2.5 million people are in desperate need of safe drinking water and sanitation facilities in the flood hit areas. Talking to APP on Saturday, an official of Office for the Co-ordination of Humanitarian Affai
Published 02 Oct, 2011 12:00am
Export of shrimps, prawns surges by 7.75 percent

Export of shrimps, prawns surges by 7.75 percent

The exports of shrimps and prawns from the country registered an increase of 7.75 per cent during the period from July-April 2010-11 as compared to the same period of last year. An official in the Ministry of Commerce told APP on Saturday that about 5638.
Published 02 Oct, 2011 12:00am
All means to be taken to solve traders' problems: new SCCI chief

All means to be taken to solve traders' problems: new SCCI chief

The newly elected president of Sarhad Chamber of Commerce & Industry (SCCI) Afan Aziz has said that all resources would be utilised for resolution of problems confronting business community in the province. Addressing the SCCI general body meeting while t
Published 02 Oct, 2011 12:00am
197 dengue cases confirmed in Khyber Pakhtunkhwa

197 dengue cases confirmed in Khyber Pakhtunkhwa

Khyber Pakhtunkhwa Health Department has said that more than 197 dengue cases have been confirmed in the province, whereas five infected patients so far died. According to report issued here on Saturday, said that about 197 dengue cases have been confirme
Published 02 Oct, 2011 12:00am
45,000 flood-hit families issued Pakistan Cards so far

45,000 flood-hit families issued Pakistan Cards so far

National Database and Registration Authority (Nadra) has so far issued 45,000 Pakistan Cards under which Rs 20,000 financial assistance was being given to each flood-hit family in Sindh province. The Authority has enhanced the number of special distributi
Published 02 Oct, 2011 12:00am
Asma to attend new legal year ceremony

Asma to attend new legal year ceremony

President of the Supreme Court Bar Association of Pakistan (SCBA) Asma Jahangir will attend a ceremony at the Westminster Abbey, London to mark the commencement of the new legal year in England and Wales featuring Presidents of Bar Associations from 43 co
Published 02 Oct, 2011 12:00am
ECP rejects Fafen survey report

ECP rejects Fafen survey report

Outrightly rejecting a survey report issued by Free and Fair Election Network (Fafen), an official of Election Commission of Pakistan (ECP) on Saturday said the ECP was utilising the database of Nadra, and Census Department in the ongoing door-to-door ver
Published 02 Oct, 2011 12:00am
Butt takes charge as ICCI President

Butt takes charge as ICCI President

Yassar Sakhi Butt assumed charge as President while Asad Farid and Shahid Zaman Shinwari as Vice Presidents of Islamabad Chamber of Commerce and Industry (ICCI) in a handing-over ceremony held at the chamber's house. After assuming the charge, Yassar Butt
Published 02 Oct, 2011 12:00am
Justice for Salmaan Taseer

Justice for Salmaan Taseer

The verdict is in. Almost nine months after the assassination of former Governor Salmaan Taseer, an Anti-Terrorism Court (ATC) has awarded former Police Commando Mumtaz Qadri his self-confessed killer the death penalty on two counts of murder and terroris
Published 02 Oct, 2011 12:00am
Wake-up call on road safety

Wake-up call on road safety

For more than 30 families, the date 26th September will forever be etched in their minds as parents' worst nightmare came true. A bus, full of young students and a few faculty members from a private school in Faisalabad, catapulted out of control when its
Published 02 Oct, 2011 12:00am
Developing Thar coalfields for power generation

Developing Thar coalfields for power generation

Under the Pak-China Joint Energy Working Group dialogue held in Beijing during August 01-02, Pakistan has sought Chinese technical and financial assistance to develop various energy projects. The list of 19 identified projects include Thar coal mining and
Published 02 Oct, 2011 12:00am
Proper corporate governance needed for micro-finance sector

Proper corporate governance needed for micro-finance sector

Recent upheavals in the global financial sector and emerging signals for more chaotic conditions in the folds of the financial institutions of the economically rich countries, particularly of the US and European countries, are likely to have a global impa
Published 02 Oct, 2011 12:00am
Hollowness of US allegations

Hollowness of US allegations

In the wake of an attack on the US embassy in Kabul last week, Admiral Mike Mullen told the US Senate Armed Services Committee that "the Haqqani network, for one, acts as a veritable arm of Pakistan's ISI". US Defence Secretary Leon Panetta appearing befo
Published 02 Oct, 2011 12:00am
Stop taking US aid

Stop taking US aid

US aid to Pakistan over the last 10 years has been two billion dollars a year, which translates into around 12 dollars for every Pakistani. Compare this with American aid to Israel (three billion dollars a year), which amounts to 375 dollars for every Isr
Published 02 Oct, 2011 12:00am
Dengue risk in Karachi University

Dengue risk in Karachi University

A relative of mine studies in the Mass Communication Department, University of Karachi. He told me that nearby in the Mass Communication Department there are many bushes and trees and because of this, there are many mosquitoes.
Published 02 Oct, 2011 12:00am
US struggles to chart fresh course with Pakistan

US struggles to chart fresh course with Pakistan

The White House's attempts to set a fresh course with Pakistan are being hobbled by bad options, bureaucratic tensions and the desire to avoid severing a vexing but critical relationship. In the wake of a blunt and public accusation by the top US milita
Published 02 Oct, 2011 12:00am
Commodities buckle on eurozone, recession worries

Commodities buckle on eurozone, recession worries

Commodity prices buckled last week, with gold slumping, as investors fretted over the unresolved eurozone debt crisis and growing recession fears that are blighting financial markets world-wide. "Macroeconomic unease, fragile sentiment and choppy external
Published 02 Oct, 2011 12:00am
Gold posts biggest quarterly gain of this year

Gold posts biggest quarterly gain of this year

Gold rose on Friday on lingering worries of a global economic slowdown, and the price of bullion notched its biggest quarterly gain of this year even after a sharp pullback from a record hit this month. Gold posted a quarterly gain of 8 percent - its bigg
Published 02 Oct, 2011 12:00am
Brazilian to head Coffee Organisation

Brazilian to head Coffee Organisation

Brazil will return to the helm of the International Coffee Organisation, which on Thursday named a senior agriculture official from the world's top coffee growing country as its executive director. Roberio Oliveira Silva, 48, director for coffee at Brazil
Published 02 Oct, 2011 12:00am
Indonesia, India may explore palm oil, rice pact

Indonesia, India may explore palm oil, rice pact

Indonesia and India discuss trade next week with rice and edible oils likely to be on the agenda as Jakarta faces cuts in supplies of the grain from Thailand and New Delhi considers retaliation for a hike in crude palm oil prices.
Published 02 Oct, 2011 12:00am
Asian rice: likely intervention scheme forces Thai prices up

Asian rice: likely intervention scheme forces Thai prices up

Thailand's main export grade of rice was offered by up to 11 percent higher this week as operators held on to the grain ahead of a government intervention scheme, while thin stocks and higher production costs lifted Vietnamese prices, traders said.
Published 02 Oct, 2011 12:00am
More than nine suitors court London Metal Exchange

More than nine suitors court London Metal Exchange

Interest in the London Metal Exchange as a takeover target has snowballed and the number of suitors has risen to double digits because business is booming with volumes at record levels, its chief executive Martin Abbott said. The LME will set up a "data r
Published 02 Oct, 2011 12:00am
Indonesia eyes domestic rice due to costly imports

Indonesia eyes domestic rice due to costly imports

Indonesia is not solely dependent on Thailand or Vietnam for rice and is seeking cheaper imports, while state procurement agency Bulog should look to buy from domestic suppliers, the Indonesian agriculture minister said on Thursday. Indonesian officials a
Published 02 Oct, 2011 12:00am
Ivorian cocoa farmers upbeat

Ivorian cocoa farmers upbeat

Farmers in the heart of Ivory Coast's cocoa belt say they expect an abundant harvest in the new season, though production will not match the record 1.5 million tonnes of the season just ending. Farmers in Soubre and Daloa regions, which account for about
Published 02 Oct, 2011 12:00am
China sees 2011 cotton output at 7.2 million tonnes

China sees 2011 cotton output at 7.2 million tonnes

China's National Development and Reform Commission expects the country's cotton output this year to be around 7.2 million tonnes, up 7.5 percent from the same period last year, an industry website reported on Thursday. The supply shortage in the 2011/12 c
Published 02 Oct, 2011 12:00am
Saudi cleric's discontent after women's rights move

Saudi cleric's discontent after women's rights move

One of Saudi Arabia's most senior clerics said he was not consulted about King Abdullah's decision to grant women more political rights, one of the first signs of discontent from powerful conservatives since the reform was announced. In a speech last week
Published 02 Oct, 2011 12:00am
Somali gunmen kidnap French woman

Somali gunmen kidnap French woman

Somali gunmen who snatched a disabled 66-year-old Frenchwoman from a Kenyan luxury resort island fled back to Somalia after a shootout with Kenya's navy, officials said Saturday. The wheelchair-bound woman was taken from her home in Lamu at 3:30 am (0030
Published 02 Oct, 2011 12:00am
Quartet initiative failed: French minister

Quartet initiative failed: French minister

France's foreign minister said Saturday that an initiative of the international Quartet on Israeli-Palestinian peace had failed and urged the resumption of negotiations. "The initiative of the Quartet" of the United States, United Nations, European Union
Published 02 Oct, 2011 12:00am
US government simulates cyber attack for training

US government simulates cyber attack for training

The lights went out. Hackers had infiltrated the chemical company's computer network. The firm's own experts ran around from computer to computer trying to fight back and regain control. "We're flying blind," the chief executive of the fictitious ACME che
Published 02 Oct, 2011 12:00am
Democrats push tax hikes first in US deficit talks

Democrats push tax hikes first in US deficit talks

Democrats want tax hikes to be the first item negotiated in "super committee" deficit-reduction talks, trying to force Republicans to confront an issue at the heart of this year's budget fights, sources told Reuters. The tough stance by Democratic members
Published 02 Oct, 2011 12:00am
Turk president urges consensus on new constitution

Turk president urges consensus on new constitution

President Abdullah Gul urged Turkish lawmakers at the opening session of parliament on Saturday to search for consensus on a new liberal constitution so it would be representative. Pro-Kurdish deputies ended their boycott of parliament to remove a threat
Published 02 Oct, 2011 12:00am
US warns of revenge attacks after two key al Qaeda figures killed

US warns of revenge attacks after two key al Qaeda figures killed

The United States warned its nationals Saturday of "potential for retaliation" after two key al Qaeda figures were killed in an air raid in Yemen. The State department issued a global travel alert to US citizens, a day after Washington confirmed that US-Y
Published 02 Oct, 2011 12:00am
Second storm in a week batters Philippines; one dead

Second storm in a week batters Philippines; one dead

The second powerful typhoon to hit the Philippines in a week weakened as it crossed northern mountains on Saturday, dumping heavy rain, causing landslides and cutting power and communications. A woman was killed in Mountain Province as rain brought by Typ
Published 02 Oct, 2011 12:00am
Thousands attend funeral of executed US convict

Thousands attend funeral of executed US convict

Thousands of people packed a church in the US state of Georgia on Saturday for the funeral of Troy Davis, who was executed for the murder of a police officer in a case that drew international attention because of claims by his advocates that he was innoce
Published 02 Oct, 2011 12:00am
Bangladesh Prime Minister says polls under her administration

Bangladesh Prime Minister says polls under her administration

Bangladesh Prime Minister Sheikh Hasina said Saturday that elections would take place in 2014 despite a boycott threat by opponents who want the government to restore a caretaker system to oversee the poll. Former Prime Minister Khaleda Zia at a mass rall
Published 02 Oct, 2011 12:00am
Three held for $100 million Paris art haul

Three held for $100 million Paris art haul

Three people are being held in connection with the theft of paintings worth at least 100 million dollars from a Paris gallery last year, but the works are still missing, a legal official said Saturday.
Published 02 Oct, 2011 12:00am
Lebanon speeds up Internet, slashes rates

Lebanon speeds up Internet, slashes rates

Lebanon proclaimed a faster and cheaper Internet connection on Saturday, aimed at improving a service currently ranked the worst in the Middle East. "The speed (of the Internet) will now be four to eight times faster and prices are down 80 percent," Telec
Published 02 Oct, 2011 12:00am
Syrian forces take back most of rebel town

Syrian forces take back most of rebel town

Syrian soldiers have taken control of most of the town of Rastan from deserters and gunmen, an activist said on Saturday, after the most prolonged armed clashes of the six-month uprising against President Bashar al-Assad. Rami Abdel-Rahman, head of the Br
Published 02 Oct, 2011 12:00am
Afghans rock at first music festival in three decades

Afghans rock at first music festival in three decades

Live rock returned to Afghanistan after three long decades on Saturday as young men and women cheered and leapt into the air to the sound of heavy bass beats and punk rock. Bands from Australia, Uzbekistan, Kazakhstan and Afghanistan served up a six-hour
Published 02 Oct, 2011 12:00am
Red Cross inside Sirte, bombardment continues

Red Cross inside Sirte, bombardment continues

Aid workers from the International Committee of the Red Cross (ICRC) brought medical supplies into Muammar Qadhafi's besieged hometown of Sirte on Saturday as fears grew that a humanitarian disaster may unfold inside. Civilians have been streaming out of
Published 02 Oct, 2011 12:00am
Bulgarians protest against corruption, Roma

Bulgarians protest against corruption, Roma

Some 2,000 Bulgarians rallied in central Sofia against minority Roma gypsies on Saturday, demanding an end to "impunity" for organised crime in the European Union's poorest country. Bulgaria has been rocked by three nights of violent street protests after
Published 02 Oct, 2011 12:00am
Blast kills four at Kuwait's largest refinery

Blast kills four at Kuwait's largest refinery

Four workers were killed and two employees injured in a gas pipe explosion on Saturday at Kuwait's largest refinery of Mina al-Ahmadi, Kuwait national refiner said. The explosion took place at the Gas Liquefaction Plant at the refinery during maintenance
Published 02 Oct, 2011 12:00am
Italian businessman buys space to deride politicians

Italian businessman buys space to deride politicians

A prominent Italian businessman bought space in newspapers on Saturday to attack Italy's political class, adding to a swell of criticism of the government's failure to pass meaningful reform. In a full-page article in Italy's main dailies, Diego Della Val
Published 02 Oct, 2011 12:00am
Cigarette vending machines banned in England

Cigarette vending machines banned in England

Cigarette vending machines were banned in England on Saturday, a move the government hopes will cut the numbers of children smoking. Anyone caught selling cigarettes from the machines, usually found in pubs and clubs, could face a fine of £2,500 ($3,900,
Published 02 Oct, 2011 12:00am
China marks national day with vows for 'democracy'

China marks national day with vows for 'democracy'

China's top leaders marked national day Saturday with an appearance on Tiananmen Square in central Beijing after Prime Minister Wen Jiabao pledged greater "democracy" and rights for the people. President Hu Jintao, Wen and top Communist Party leaders desc
Published 02 Oct, 2011 12:00am
Student leader launches China democracy web school

Student leader launches China democracy web school

Wang Dan, a leader of the 1989 student movement, launched a website in Taiwan Saturday meant to teach young Chinese about democracy, local media reported. The New School for Democracy hopes to invite well-known academics to teach democratic concepts to Ch
Published 02 Oct, 2011 12:00am
US-Saudi ties strong: W House

US-Saudi ties strong: W House

The United States and Saudi Arabia are satisfied with the "strength" of their ties, the White House said Saturday, despite recent disagreements over Arab Spring revolutions and the Mideast peace process. US National Security Adviser Tom Donilon made a one
Published 02 Oct, 2011 12:00am
West Germany wanted to buy reunification

West Germany wanted to buy reunification

West Germany was prepared to pay the Soviet Union billions of marks in the 1960s to buy reunification, according to the weekly Der Spiegel, which went on sale Saturday. The then chancellor Christian-Democrat Ludwig Erhard (1963-1966) hoped to obtain Germa
Published 02 Oct, 2011 12:00am
18 dead in Indonesian plane crash

18 dead in Indonesian plane crash

All 18 people aboard a plane that crashed on Indonesia's Sumatra island were found dead Saturday, an official said, after two days of hampered efforts to reach the remote jungle site. Hopes that some on board the aircraft might be alive had been raised wh
Published 02 Oct, 2011 12:00am
French Socialist to lead Senate for first time since 1958

French Socialist to lead Senate for first time since 1958

French senators elected a Socialist to lead the upper house for the first time in more than 50 years on Saturday after left-wing candidates wrested control of the Senate last week from President Nicolas Sarkozy's ruling conservative party.
Published 02 Oct, 2011 12:00am
Experts urge Commonwealth action on human rights

Experts urge Commonwealth action on human rights

The Commonwealth must act decisively to uphold human rights among its 54 member nations or risk a slide into irrelevance, according to a report set to divide the group's leaders at their summit this month. ----- Sri Lanka, some other developing nations, o
Published 02 Oct, 2011 12:00am
Euro down 7.5 percent for quarter; dollar falls 4 percent

Euro down 7.5 percent for quarter; dollar falls 4 percent

The euro was on track on Friday to close out its worst quarter against the dollar since June 2010, and the growing concern about the eurozone's ability to resolve its debt problems was expected to keep it under pressure in the week ahead.
Published 02 Oct, 2011 12:00am
African currencies outlook

African currencies outlook

Nigeria's naira is likely to hit record lows at the interbank market next week amid a dollar shortage in Africa's biggest oil producer, while Kenya's government is set to announce more measures to prop up the battered shilling.
Published 02 Oct, 2011 12:00am
Long dollar positions rise to highest since June 2010

Long dollar positions rise to highest since June 2010

Currency speculators increased bets on the US dollar to their highest since June 2010, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $14.38 billion in the week ended
Published 02 Oct, 2011 12:00am
Canadian dollar lower

Canadian dollar lower

The Canadian dollar hit fresh 12-month lows against the US dollar on Friday to notch the largest monthly drop in value since the height of the 2008 financial crisis as global growth concerns dominated. The Canadian dollar ended the session at C$1.0482 to
Published 02 Oct, 2011 12:00am
Safety status eroded, sterling to suffer more on QE

Safety status eroded, sterling to suffer more on QE

Sterling's sell-off against the dollar and yen this month has undermined its "safe-haven" appeal, and the prospect that a struggling economy may soon require more monetary stimulus could knock the UK currency sharply lower by year-end.
Published 02 Oct, 2011 12:00am
Wall Street ends worst quarter since 2008 meltdown

Wall Street ends worst quarter since 2008 meltdown

US stocks ended their worst quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a US credit downgrade and a sputtering global economy. A steep slide on Friday closed out a fifth month of losses as weak economic data from
Published 02 Oct, 2011 12:00am
Longer-dated treasuries record best quarter since fourth quarter 2008

Longer-dated treasuries record best quarter since fourth quarter 2008

Longer-dated US Treasuries surged on Friday, propelling them to their best-performing quarter since late 2008, but analysts expect it could be tough for the market to eke out more gains despite fears about a US recession and the European debt crisis.
Published 02 Oct, 2011 12:00am
Longer-dated treasuries record best quarter since fourth quarter 2008

Longer-dated treasuries record best quarter since fourth quarter 2008

Longer-dated US Treasuries surged on Friday, propelling them to their best-performing quarter since late 2008, but analysts expect it could be tough for the market to eke out more gains despite fears about a US recession and the European debt crisis.
Published 02 Oct, 2011 12:00am
Turkish markets weaken

Turkish markets weaken

Turkish bonds and the lira weakened after higher-than-expected trade deficit figures on Friday while shares fell as worries about the global economy weighed. Comments from Central Bank Governor Erdem Basci that the lira, down 17 percent against the dollar
Published 02 Oct, 2011 12:00am
Japanese bonds slip

Japanese bonds slip

Japanese government bond prices were mostly lower on Friday after Germany approved an expansion of the eurozone bailout fund, supporting stocks and other risk assets but reducing safe-haven demand for debt, pushing the benchmark 10-year JGB yield to its h
Published 02 Oct, 2011 12:00am
Japanese bonds slip

Japanese bonds slip

Japanese government bond prices were mostly lower on Friday after Germany approved an expansion of the eurozone bailout fund, supporting stocks and other risk assets but reducing safe-haven demand for debt, pushing the benchmark 10-year JGB yield to its h
Published 02 Oct, 2011 12:00am
Sri Lankan stocks at one-week high

Sri Lankan stocks at one-week high

Sri Lanka's stock market gained on Friday for the second day led by heavyweights and blue chips while retail speculative buying continued as the bourse recovered from near oversold territory, while the rupee edged up before closing flat. The island nation
Published 02 Oct, 2011 12:00am
ADR REPORT: Signs of contagion as euro banks slide

ADR REPORT: Signs of contagion as euro banks slide

Big European financial institutions such as Deutsche Bank and Credit Suisse tumbled on Friday, pulling down US counterparts as fears of a contagion effect from a possible Greek default mushroomed. As Wall Street skidded to its worst quarter in three years
Published 02 Oct, 2011 12:00am
ADR REPORT: Signs of contagion as euro banks slide

ADR REPORT: Signs of contagion as euro banks slide

Big European financial institutions such as Deutsche Bank and Credit Suisse tumbled on Friday, pulling down US counterparts as fears of a contagion effect from a possible Greek default mushroomed. As Wall Street skidded to its worst quarter in three years
Published 02 Oct, 2011 12:00am
Warsaw bourse offers $70 million for rival PolPX

Warsaw bourse offers $70 million for rival PolPX

Poland's main equity exchange the Warsaw bourse is willing to pay about 230 million zlotys ($70 million) for an 80 percent stake in its local energy-trading rival PolPX, the Parkiet daily reported on Saturday quoting unidentified sources.
Published 02 Oct, 2011 12:00am
TSX drops on last day; posts worst quarter in three years

TSX drops on last day; posts worst quarter in three years

Toronto's main stock index fell on Friday, closing off its worst month and quarter in nearly three years, as a raft of disappointing data and the lack of a solution to Europe's debt crisis stoked fears of a global economic slowdown. The index plummeted 12
Published 02 Oct, 2011 12:00am
Latam stocks see worst quarter since 2008

Latam stocks see worst quarter since 2008

Latin American stocks fell on Friday ending their worst quarter since 2008 on fears of a Greek default and a global slowdown as investors hoped the upcoming fourth quarter will trim the year's losses. The MSCI Latin American stock index slumped 2.52 perce
Published 02 Oct, 2011 12:00am
Russia's Polymetal plans full London listing

Russia's Polymetal plans full London listing

Russian precious metals miner Polymetal is seeking a premium listing on the London Stock Exchange, raising about $500 million in a move it hopes will catapult it into the FTSE 100 blue chip index and hand it currency for acquisitions. Polymetal, which has
Published 02 Oct, 2011 12:00am
Firms feel the chill as equity markets freeze

Firms feel the chill as equity markets freeze

A near shutdown in global equity capital markets is forcing issuers to wait, possibly delaying to next year much-anticipated offerings such as the US government's shares in bailed-out companies. With the debt crisis still raging in Europe and the US econo
Published 02 Oct, 2011 12:00am
Canada, Quebec sign long-delayed sales tax deal

Canada, Quebec sign long-delayed sales tax deal

The Canadian government and Quebec formally signed a C$2.2 billion ($2.1 billion) tax deal on Friday, ending two decades of squabbling which had helped fan separatist sentiment in the largely French-speaking province. Quebec had pressed Ottawa for almost
Published 02 Oct, 2011 12:00am
Higher US mortgage rates coming for costlier homes

Higher US mortgage rates coming for costlier homes

Many homebuyers in the most expensive US real estate markets will face demands for bigger down payments and higher borrowing costs starting Saturday. Higher limits on the size of home mortgages that the government buys or insures, which had been increased
Published 02 Oct, 2011 12:00am
Higher US mortgage rates coming for costlier homes

Higher US mortgage rates coming for costlier homes

Many homebuyers in the most expensive US real estate markets will face demands for bigger down payments and higher borrowing costs starting Saturday. Higher limits on the size of home mortgages that the government buys or insures, which had been increased
Published 02 Oct, 2011 12:00am
Top Chinese paper urges Europe get act together on debt crisis

Top Chinese paper urges Europe get act together on debt crisis

European countries must act decisively to resolve the eurozone debt crisis or risk having some member states forced out of the single currency, China's top newspaper said in a front page commentary on Saturday. The call came in the overseas edition of the
Published 02 Oct, 2011 12:00am
Obama presses Republicans for jobs bill support

Obama presses Republicans for jobs bill support

President Barack Obama urged Republican lawmakers on Saturday to spell out exactly what they can and cannot support in his $447 billion plan to create jobs, saying it was "time for Congress to get its act together." Obama, whose re-election chances in Nov
Published 02 Oct, 2011 12:00am
US seizes $28.4 million in fake luxury goods

US seizes $28.4 million in fake luxury goods

More than 60,000 fake luxury handbags, wallets and other goods with a retail value of $28.4 million have been seized at a Florida flea market, US customs authorities said Friday. Authorities said the investigation was ongoing, and no arrests have been mad
Published 02 Oct, 2011 12:00am
Qatar Holdings buys stake in European Goldfields

Qatar Holdings buys stake in European Goldfields

Qatar Holdings signed a deal on Saturday to buy a stake in London-based European Goldfields from Greek building firm Ellaktor and will invest another $600 million in the mining company, a source with direct knowledge of the deal told Reuters. "Qatar Holdi
Published 02 Oct, 2011 12:00am
US judge dismisses part of fraud case against Citi

US judge dismisses part of fraud case against Citi

A US federal judge dismissed part of a case brought by European bond investors accusing Citigroup Inc and its directors of misrepresenting or failing to disclose Citi's exposure to toxic mortgage assets and its own solvency.
Published 02 Oct, 2011 12:00am
Citigroup faces regulatory scrutiny in Japan

Citigroup faces regulatory scrutiny in Japan

Citigroup is being investigated by Japanese regulators for possible infractions related to its marketing of financial products and could face its third major punishment in Japan in 7 years, a source with knowledge of the matter said. Japan's Financial Ser
Published 02 Oct, 2011 12:00am
Strike at Maruti's plant ends; sales down 21 percent

Strike at Maruti's plant ends; sales down 21 percent

Maruti Suzuki, India's top car maker, said a month-long strike at one of its plants that cost the company about $135 million in lost output ended on Saturday, after workers agreed to sign discipline agreements. Maruti, 54.2 percent owned by Japan's Suzuki
Published 02 Oct, 2011 12:00am
Turkey revokes Russian gas contract

Turkey revokes Russian gas contract

Turkey has revoked a contract to purchase six billion cubic metres a year of natural gas from Russia, its main supplier, after failing to win a discount, Energy Minister Taner Yildiz said Saturday. "The contract on the western routing has been wound up be
Published 02 Oct, 2011 12:00am
Schaeuble rules out larger German EFSF contribution

Schaeuble rules out larger German EFSF contribution

Finance Minister Wolfgang Schaeuble was quoted on Saturday ruling out a higher German contribution to the eurozone's rescue fund beyond the 211 billion euros approved by parliament last week. In an interview with the Super-Illu newspaper published on Satu
Published 02 Oct, 2011 12:00am
Texas bank closed by regulators, 74th this year

Texas bank closed by regulators, 74th this year

State regulators closed the First International Bank, which has seven branches in Plano, Texas, the Federal Deposit Insurance Corp said on Friday. The closure is the 74th this year. American First National Bank will take over the branches and deposits of
Published 02 Oct, 2011 12:00am
South Korea's exports up 20 percent

South Korea's exports up 20 percent

South Korean exports in September posted solid growth thanks to firmer fuel and chemicals prices, but the softening global economy is widely expected to drag on overseas sales by Asia's fourth-largest economy in the coming months. Overseas shipments by So
Published 02 Oct, 2011 12:00am
BMW to separate Mini showrooms in Germany

BMW to separate Mini showrooms in Germany

BMW dealerships in Germany will be asked to better segregate sales space between BMW and Mini cars, BMW Germany sales chief Karsten Engel told weekly auto industry publication Automobilwoche. "There cannot be different brands in the same showroom," Engel
Published 02 Oct, 2011 12:00am
No tax cuts in 'debt storm': UK's Osborne

No tax cuts in 'debt storm': UK's Osborne

Britain must stick to its austerity drive and avoid tax cuts while it tries to wipe out a record deficit, finance minister George Osborne said on Saturday, as a senior member of his party accused him of lacking a "coherent and credible" long-term growth p
Published 02 Oct, 2011 12:00am
Anti-counterfeiting agreement signed in Tokyo

Anti-counterfeiting agreement signed in Tokyo

Governments of eight nations including Japan and the United Stated signed an agreement on Saturday aiming to cut costly copyright and trademark theft. The signing is a step toward bringing into effect the Anti-Counterfeiting Trade Agreement (ACTA), which
Published 02 Oct, 2011 12:00am
China's factory activity picks up, export orders recover

China's factory activity picks up, export orders recover

China's factory activity picked up in September for a second month in a row and export orders strengthened, offering some reassurance that the world's second-largest economy can weather the global economic turmoil. The official purchasing managers' index
Published 02 Oct, 2011 12:00am
China delays rail projects after deadly accident

China delays rail projects after deadly accident

China's railways ministry has ordered delays to ongoing rail projects following a deadly high-speed accident, a move likely to impact foreign participation in the industry, state press said Saturday. The slowdown follows concerns over the safety of China'
Published 02 Oct, 2011 12:00am
Oil markets balanced: Saudi Arabia

Oil markets balanced: Saudi Arabia

Oil markets are currently balanced and Saudi Arabia is prepared to help stabilise them, state news agency SPA quoted Saudi Oil Minister Ali al-Naimi as saying on Saturday. "The kingdom is ready to play its positive role for the stability of the market," N
Published 02 Oct, 2011 12:00am
Serbian Savic handed lifetime match-fix ban

Serbian Savic handed lifetime match-fix ban

Serbian journeyman David Savic was banned from tennis for life and fined 100,000 dollars on Saturday after being found guilty of match-fixing. The 26-year-old world number 659 becomes the second player this year to suffer the sanction after Austria's Dani
Published 02 Oct, 2011 12:00am
England beat Scotland to reach quarters

England beat Scotland to reach quarters

England rallied in the second half of a hard-fought match to defeat Scotland 16-12 on Saturday and ensure a place in the World Cup quarter-finals after the first game on neutral territory between rugby union's oldest rivals.
Published 02 Oct, 2011 12:00am
United, City stay level on points

United, City stay level on points

Manchester City's tough week ended on a high note on Saturday when they won 4-0 at Blackburn Rovers to maintain their unbeaten start in the Premier League and stay level on points with Manchester United at the top of the table.
Published 02 Oct, 2011 12:00am
Iraq's football body names Qatar to host qualifiers

Iraq's football body names Qatar to host qualifiers

The Iraqi Football Association (IFA) said on Saturday it had selected Qatar as a neutral venue to host its national team qualifiers for the 2014 World Cup and next year's London Olympics as a way to skirt a ban imposed by FIFA.
Published 02 Oct, 2011 12:00am
Neuer hits 1,000 mark as Hoffenheim hold Bayern

Neuer hits 1,000 mark as Hoffenheim hold Bayern

Bayern Munich goalkeeper Manuel Neuer went over 1,000-minutes without conceding a goal during Saturday's goalless draw at Hoffenheim as the Bavarian's had their 10-match winning streak ended. Bayern's 2-0 win over Manchester City in the Champions League o
Published 02 Oct, 2011 12:00am
Shoaib Malik helps Sialkot reach T20 final

Shoaib Malik helps Sialkot reach T20 final

A scintillating 127-run stand off 86 balls between Shoaib Malik and Shahid Yousuf steered defending champion Sialkot Stallions in the final of the Faysal Bank T20 Cricket Championship when they beat Lahore Eagles by six wickets in the first semi-finals at
Published 02 Oct, 2011 12:00am
Murray, Young in Thailand Open final

Murray, Young in Thailand Open final

Andy Murray will have the experience edge when the top seed faces untested Donald Young in Sunday's final of the ATP Thailand Open. Murray needed six match points and nerves of steel to beat long-time opponent Gilles Simon 6-2, 3-6, 6-2 in Saturday's semi
Published 02 Oct, 2011 12:00am
Jankovic falls at first hurdle in Beijing

Jankovic falls at first hurdle in Beijing

Former world number one Jelena Jankovic suffered a shock first round exit at the China Open on Saturday, losing 7-5 6-4 to Austrian Tamira Paszek. The tenth seed produced an error-strewn display under the lights on a chilly night and her young opponent to
Published 02 Oct, 2011 12:00am
Radwanska wins Pan Pacific Open

Radwanska wins Pan Pacific Open

Agnieszka Radwanska kept up her immaculate winning record in finals this season by beating Vera Zvonareva of Russia to take the WTA Pan Pacific Open tennis tournament on Saturday. The 22-year-old Pole, who claimed the title at Carlsbad in her first final
Published 02 Oct, 2011 12:00am
Baghdatis beats Troicki to reach KL final

Baghdatis beats Troicki to reach KL final

Marcos Baghdatis defeated Serbian second seed Viktor Troicki 6-3, 6-1 on Saturday at the ATP Malaysian Open to reach his first final of a disappointing 2011 season. The Cypriot, who reached the final of the Australian Open five years ago, has dropped from
Published 02 Oct, 2011 12:00am
Activity slows down on grain market

Activity slows down on grain market

A few changes were seen on the wholesale grain market on Saturday due to balanced demand and supply position, dealers said. On the cereal side, wheat old Bardan and wheat new Bardan both shed Rs 10 to Rs 2580-2590, respectively, guwar Sindh and Punjab, ho
Published 02 Oct, 2011 12:00am
Raw rubber ends up on Jodia Bazaa

Raw rubber ends up on Jodia Bazaa

The trading in raw rubber ended up on Jodia Bazaar here on Saturday. The following changes were noted.
Published 02 Oct, 2011 12:00am
Argentine wheat still in need of rains

Argentine wheat still in need of rains

Argentine wheat plants are badly in need of heavier rains despite scattered showers that helped speed corn plantings in some areas this week, the Agriculture Ministry said on Friday. Argentina, a leading global wheat exporter and key supplier to neighbour
Published 02 Oct, 2011 12:00am
US corn futures plunges more than six percent

US corn futures plunges more than six percent

US corn futures plunged more than 6 percent on Friday, ending the month 23 percent lower and marking the biggest monthly decline in more than 15 years, after a government report showed a larger corn supply than expected. The spot corn price was locked at
Published 02 Oct, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 129,339 tonnes of cargo comprising 102,938 tonnes of import cargo and 26,401 tonnes of export cargo including 4,701 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 102,938
Published 02 Oct, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures plunged on Friday with US grains after the US Department of Agriculture released bearish crop and stocks data. Nearby November canola finished with a monthly loss of 9.9 percent, the biggest since at least September 2009 on a n
Published 02 Oct, 2011 12:00am
China's corn imports to triple in 2011-12

China's corn imports to triple in 2011-12

China, the world's second biggest corn consumer, is likely to more than triple imports to four million tonnes in the crop year starting October as strong livestock feed demand swallows up a bumper harvest, a Reuters poll showed on Thursday. The import for
Published 02 Oct, 2011 12:00am
US corn, soya cash bids steady to lower

US corn, soya cash bids steady to lower

Corn and soya cash bids were steady to lower on Friday pressured by lower CBOT futures after a key USDA report showed a larger-than-expected corn and wheat crop, dealers said. CBOT corn futures fell down to its new 40 cent daily trading limit after the re
Published 02 Oct, 2011 12:00am
Ukraine exports wheat, barley

Ukraine exports wheat, barley

Ukraine's major grain exporter HlibinvestBud (HIB) exported about 450,000 tonnes of wheat and barley in the first three months of the 2011/12 season, it said on Friday. HIB, which plans to export 5 million tonnes of grain this season , also said it had bo
Published 02 Oct, 2011 12:00am
Corn export premiums steady at US Gulf Coast

Corn export premiums steady at US Gulf Coast

Corn export premiums at the US Gulf Coast were mostly steady with a firm tone on Friday amid moderate demand from regular US corn customers as futures prices dropped, traders said. Benchmark US corn futures on the Chicago Board of Trade plunged more than
Published 02 Oct, 2011 12:00am
Spot rate lowered by Rs 100 to Rs 6,300 on cotton market

Spot rate lowered by Rs 100 to Rs 6,300 on cotton market

A downward trend was witnessed on the cotton market on Saturday as phutti arrivals increased at the ginneries, dealers said. The Karachi Cotton Association (KCA) official spot rate was lowered by Rs 100 to Rs 6,300, they said. Prices of seedcotton in Sind
Published 02 Oct, 2011 12:00am
Oil cake markets rates

Oil cake markets rates

The December and January contracts drifted lower on the forward cottonseed oilcake market on Friday in process of trading, dealers said. The December contract that had ended at Rs 1313.20 commenced with a loss of 90 paisa in the early session at Rs 1312.3
Published 02 Oct, 2011 12:00am
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