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Archive - 2011-10-12
Nawaz Sharif terms Oct 12 as black day
Top News

Nawaz Sharif terms Oct 12 as black day

ISLAMABAD: President PML-N Mian Nawaz Sharif Wednesday described October 12, 1999 as a black day when the then army chie
Published 12 Oct, 2011 04:31pm
Prices of vegetables surged
Top News

Prices of vegetables surged

BADIN: The prices of vegetable have surged in Badin in the wake of rain and flood caused devastation of agriculture in S
Published 12 Oct, 2011 03:18pm
Amnesty calls on Canada to arrest Bush
Top News

Amnesty calls on Canada to arrest Bush

OTTAWA: Amnesty International called on Canadian authorities Wednesday to arrest and prosecute George W. Bush, saying th
Published 12 Oct, 2011 11:13am
Govt decides on two-day weekend
Top News

Govt decides on two-day weekend

KARACHI : In an effort to save energy the federal cabinet on Wednesday decided on two holidays a week and closure of ma
Published 12 Oct, 2011 11:12am
Gold improves to Rs47,571 per 10 grams
Top News

Gold improves to Rs47,571 per 10 grams

KARACHI : Gold moved up by Rs171 to Rs47,571 per 10 grams in the local market Wednesday, as its international price surg
Published 12 Oct, 2011 10:50am
Stocks and euro rise; focus on Slovakia
Top News

Stocks and euro rise; focus on Slovakia

LONDON : World stocks and the euro hit 3-week highs on Wednesday while top-rated government bonds fell as investors look
Published 12 Oct, 2011 10:03am
Crimes in markets
Business & Finance

Crimes in markets

KARACHI: After a brief respite, daytime robberies at markets again began to haunt the businessmen community whom blame t
Published 12 Oct, 2011 08:26am
India-England one-day squads
Cricket

India-England one-day squads

HYDERABAD: India and England squads for the one-day series starting on Friday: England: Alastair Cook (capt), Craig Kie
Published 12 Oct, 2011 07:20am
Three month fiscal deficit 1.1pc of GDP
Top News

Three month fiscal deficit 1.1pc of GDP

KARACHI : Pakistan 's fiscal deficit for the first three months of fiscal year 2011-12 was 1.1 percent of gross domesti
Published 12 Oct, 2011 06:09am
Cabinet to take key decisions today
Top News

Cabinet to take key decisions today

MUSHTAQ GHUMMAN ISLAMABAD: The Cabinet, which is scheduled to meet on Wednesday, is expected to extend lease contract
Published 12 Oct, 2011 05:55am
US Senate passes China currency bill
Top News

US Senate passes China currency bill

WASHINGTON: Defying Chinese anger and White House warnings, the US Senate on Tuesday passed legislation to punish Beijin
Published 12 Oct, 2011 05:25am
Crude down in Asia
Energy

Crude down in Asia

SINGAPORE: Crude prices were down in Asian trade Wednesday after OPEC lowered its global oil demand forecast for 2012 an
Published 12 Oct, 2011 04:32am
Behind the car sales numbers
BR Research

Behind the car sales numbers

Sales of passenger cars for the 1QFY12 showed a 27 percent increase when compared to the 1QFY11. However, a deeper dive into the numbers rev
Published 12 Oct, 2011 12:00am
LHC moved against cancellation of Rs 500 currency notes

LHC moved against cancellation of Rs 500 currency notes

A petition against cancellation of old designed currency notes of Rs 500 has been filed before the Lahore High Court. The petitioner Shahanshah Shamil Paracha prayed to the court to declare the action of the respondent as illegal and unconstitutional.
Published 12 Oct, 2011 12:00am
Affected shopkeepers: LHC seeks detail of Auqaf land around shrine

Affected shopkeepers: LHC seeks detail of Auqaf land around shrine

The Lahore High Court here Tuesday sought detail of Auqaf land around shrine of Hazrat Baba Farid Ganje Shakar (RA) to accommodate the affected shopkeepers after the closure the shrine gate for security purposes. Earlier, DPO Pakpattan appeared before the
Published 12 Oct, 2011 12:00am
Cotton export agreement with Turkey welcomed

Cotton export agreement with Turkey welcomed

The Chairman of Pakistan Cotton Ginners Association (PCGA), Amanullah Qureshi, has welcomed an agreement signed between a Turkish member of Board Agaglu, Atif Saeed Dada, and Federal Minister for Professional and Technical Training, Riaz Pirzada, for expo
Published 12 Oct, 2011 12:00am
Textile exporters: old age benefit, social security money to be refunded

Textile exporters: old age benefit, social security money to be refunded

The Government has decided to refund old age benefit and social security money to the registered textile exporters to facilitate and promote textile exports of the country, said Shahid Rashid, Secretary, Textile Industry. Addressing a meeting of textile e
Published 12 Oct, 2011 12:00am
Wapda completes NJHP dam diversion tunnel

Wapda completes NJHP dam diversion tunnel

Yet another milestone achieved in the implementation of 969-MW Neelum Jhelum Hydropower Project (NJHP), as Pakistan Water and Power Development Authority (Wapda) has successfully completed dam diversion tunnel of the project in recorded time. The half-a-k
Published 12 Oct, 2011 12:00am
Business community hails new monetary policy

Business community hails new monetary policy

Jalaluddin Roomi has hailed the monetary policy, describing it a move in the right direction and said that reduction in mark-up rate by 1.5 percent would alleviate the burden on the industrialists, traders and exporters. In a statement, he said that "it w
Published 12 Oct, 2011 12:00am
Japanese ambassador calls on Jamaat-e-Islami chief

Japanese ambassador calls on Jamaat-e-Islami chief

Japanese Ambassador in Pakistan Hiroshi O.E. called on Jamaat-e-Islami Chief Syed Munawar Hasan at Mansoora on Tuesday and discussed with him matters of bilateral interest. The JI chief said that Pak-Japan friendship had strong foundations. He especially
Published 12 Oct, 2011 12:00am
Irsa estimates 16 percent water shortage for Rabi crops

Irsa estimates 16 percent water shortage for Rabi crops

The Indus River System Authority (Irsa) has estimated 16 percent water shortage for sowing and maturing of the 2011-2012 Rabi crops from October 15 to March 31 as Pakistan does not have sufficient storage capacity to conserve the several million acre-ft m
Published 12 Oct, 2011 12:00am
LCCI demands 500-acre land for cottage industry

LCCI demands 500-acre land for cottage industry

The Lahore Chamber of Commerce and Industry has demanded of the government to allocate 500-acre piece of land for the establishment of cottage city, as the cottage industry is not only a building block of economic development but also of importance for al
Published 12 Oct, 2011 12:00am
Fresh launches Remedial School System

Fresh launches Remedial School System

Foundation for Rehabilitation and Education of Special Children (Fresh) marked its seventh foundation day with the launch of Remedial School System for students having learning problems in mainstream schools of country. Ashba Kamran, the Chief Operating O
Published 12 Oct, 2011 12:00am
Help-line for pilgrims launched

Help-line for pilgrims launched

Syed Abu Ahmad Aakif, Director General, Pakistan Hajj Mission in Jeddah has said that Pakistan Hajj Mission has tried its best to hire the best residences for Pakistani pilgrims and a toll free number has been installed to listen to the complaints of pilg
Published 12 Oct, 2011 12:00am
UHS to introduce 5-year DPT programme

UHS to introduce 5-year DPT programme

The Syndicate of the University of Health Sciences (UHS) has approved the 5-year Doctor of Physical Therapy (DPT) degree programme to be introduced in affiliated institutes. The approval was accorded in the 28th meeting of UHS syndicate held here on Tuesd
Published 12 Oct, 2011 12:00am
Agriculture sector Pakistan, Brazil likely to sign MoU in November

Agriculture sector Pakistan, Brazil likely to sign MoU in November

Pakistan and Brazil are likely to sign a Memorandum of Understanding in November to boost bilateral co-operation in the agriculture sector. In this connection, Economic Affairs Division and Ministry of Foreign Affairs are preparing the draft pact, which w
Published 12 Oct, 2011 12:00am
Appointment on contract basis: Supreme Court rejects prosecutors' plea

Appointment on contract basis: Supreme Court rejects prosecutors' plea

The Supreme Court on Tuesday turned down plea of a number of prosecutors appointed on contractual basis in Punjab province. A three-Judge bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Khilji Arif Hussain and Justice Tariq Parvez rejec
Published 12 Oct, 2011 12:00am
Punjab Assembly Speaker meets Indian journalists

Punjab Assembly Speaker meets Indian journalists

Punjab Assembly Speaker Rana Muhammad Iqbal meeting an Indian journalists' delegation at assembly premises here on Tuesday asked both Pakistan and Indian leadership to solve their issues peacefully. Speaking to the delegation led by Naveen S. Greyal Presi
Published 12 Oct, 2011 12:00am
Dengue control: people urged to play their part

Dengue control: people urged to play their part

The parliamentarians on Tuesday urged the people to play their part in the fight against dengue virus because they were optimistic that the disease would shortly be uprooted from the province. Rana Tajamul Hussain, MPA and chairman of Emergency Response C
Published 12 Oct, 2011 12:00am
Revised edition of 'The Economy of Pakistan' published

Revised edition of 'The Economy of Pakistan' published

Punjab University Hailey College of Banking & Finance (HCBF) Principal Professor Dr Khawaja Amjad Saeed's book titled "The Economy of Pakistan" (Revised and Updated Edition - 2011) has been published by Oxford University Press, Karachi. The first edition
Published 12 Oct, 2011 12:00am
MoI proposes 0.4 million tons of sugar import: PSMA opposes move

MoI proposes 0.4 million tons of sugar import: PSMA opposes move

The Ministry of Industries (MoI) has proposed to import 0.4 million tons of sugar to maintain stability in the market during the next season. This move has been strongly condemned by the Pakistan Sugar Mills Association (PSMA). "We strongly condemn the Mo
Published 12 Oct, 2011 12:00am
Hajj scam: NAB to distribute Rs 16 million among affected persons

Hajj scam: NAB to distribute Rs 16 million among affected persons

National Accountability Bureau (NAB), Khyber Pakhtunkhwa will distribute a total of Rs 16 million among the 234 Hajj Scam affectees in the light of decision of Accountability Court Peshawar, upheld by Peshawar High Court on a reference filed some two year
Published 12 Oct, 2011 12:00am
Pak-Turk twin cities: minister exchanges views with Director PTF

Pak-Turk twin cities: minister exchanges views with Director PTF

Federal Minister for Information and Broadcasting, Dr Firdous Ashiq Awan exchanged views with Director Pak-Turk Foundation, Turget Royan at Istanbul Airport for declaring Pakistani city Sialkot and Turkish city Kayseri twin cities. Both sides have agreed
Published 12 Oct, 2011 12:00am
Punjab government to impose regulation for dengue control

Punjab government to impose regulation for dengue control

Punjab government has decided to impose a regulation for controlling viral diseases, which will remain in force in the province till November 30, 2011. Under the regulation, all citizens will be responsible for taking all those measures at the houses, sho
Published 12 Oct, 2011 12:00am
FPCCI for cut in export refinance rate

FPCCI for cut in export refinance rate

Dr Mirza Ikhtiar Baig, Chairman, Federation of Pakistan Chambers of Commerce and Industry's (FPCCI) Standing Committee on Banking, Credit and Finance, while appreciating Governor State Bank of Pakistan for reduction in discount rate by 150 basis points ha
Published 12 Oct, 2011 12:00am
Tradekey to launch women e-business incubation centre

Tradekey to launch women e-business incubation centre

The Saudi Arab based business to business website, Tradekey, having its presence in Pakistan with over 400 employees, has announced to launch Women E-Business Incubation Center, to create partnership with Pakistani women.
Published 12 Oct, 2011 12:00am
Three killed in separate incidents

Three killed in separate incidents

At least three persons were killed in separate incidents at various parts of the metropolis here on Tuesday. According to police, a real estate agent was shot dead in Sector L-1 Surjani Town in the limits of Surjani police station. Masoom Ali, 60 son of A
Published 12 Oct, 2011 12:00am
Businessmen hope discount rate cut to boost economic growth

Businessmen hope discount rate cut to boost economic growth

Business community has hailed State Bank of Pakistan (SBP) decision to cut interest rate by 150 basis points, saying that it is likely to boost economic growth and industrial and business activities in the country. They said they are happy with the decisi
Published 12 Oct, 2011 12:00am
Jetro to set up Japan pavilion at 'EXPO PAKISTAN'

Jetro to set up Japan pavilion at 'EXPO PAKISTAN'

Japan External Trade Organisation (Jetro) has taken the initiative to set up a Japan pavilion at the sixth 'EXPO PAKISTAN' Exhibition to be held from 20th to 23rd October 2011 for the first time. With a wide coverage of Japanese representation in the lead
Published 12 Oct, 2011 12:00am
Move to increase power tariff criticised

Move to increase power tariff criticised

Chairman Law and Order Standing Committee of Korangi Association of Trader and Industry (KATI), Nadim Khan, criticised proposed move to increase power tariff by 4 percent and said when the government does not have electricity why is it allowing increase i
Published 12 Oct, 2011 12:00am
Calligraphic paintings exhibition opens today

Calligraphic paintings exhibition opens today

A group calligraphic paintings exhibition of seven known artists of the country will open at the Revivers Galleria in Gulberg here on Wednesday (today). "The Art of Calligraphy", the calligraphic paintings exhibition will remain opened till October 25 pro
Published 12 Oct, 2011 12:00am
KFHA likely to ban defaulter companies from seafood export

KFHA likely to ban defaulter companies from seafood export

The defaulter seafood companies are likely to be banned from exporting seafood for not paying dues, as Karachi Fish Harbour Authority (KFHA) undertook a plan to augment its revenues and scale down leakages in tax collection. Managing Director (MD) KFHA, A
Published 12 Oct, 2011 12:00am
CDGK staff being deprived of basic facilities

CDGK staff being deprived of basic facilities

Staffer employed in media management department(MMD) of City District Government Karachi (CDGK) have been deprived of even basic facilities, causing immense problems for them in discharging their duties prudently, learned Business Recorder on Tuesd
Published 12 Oct, 2011 12:00am
Priorities set for reactivation of economic activities: SCCI

Priorities set for reactivation of economic activities: SCCI

Sarhad Chamber of Commerce and Industry (SCCI), newly elected president, Afan Aziz has said that the priorities have been set for reactivation of business and economic activities, revival sick industrial unit and growth, relief to business community in th
Published 12 Oct, 2011 12:00am
Admiral Bokhari as NAB Chairman

Admiral Bokhari as NAB Chairman

President Asif Ali Zardari has proposed the name of Admiral Fasih Bokhari (retired) as Chairman of the National Accountability Bureau (NAB) to Prime Minister Gilani and the Leader of the Opposition Chaudhry Nisar Ali Khan as required under the NAB ordinan
Published 12 Oct, 2011 12:00am
Politics with no restraints

Politics with no restraints

Even when natural calamities and man-made disasters refuse to relent on causing immense hardship to the people, our political elite appears to be least concerned, engaged as it is perpetually in the polemics of politicking that keep it in the news. What w
Published 12 Oct, 2011 12:00am
His master's voice

His master's voice

While the echoes of US allegations of ISI fighting a proxy war in Afghanistan could still be heard loud and clear, the Afghan President Hamid Karzai has also thought it fit to have a swipe at Pakistan by saying that the Taliban could not make any move wit
Published 12 Oct, 2011 12:00am
Rich grow richer, poor stay poor in new Mongolia

Rich grow richer, poor stay poor in new Mongolia

Mongolia's mineral wealth is slow in trickling down to the majority of its citizens, with poverty widespread and many people eking out a meagre living from casual labour. Many poorer Mongolians doubt whether they will ever enjoy higher living standards. I
Published 12 Oct, 2011 12:00am
Red Cross to feed one million in war against Somalia hunger

Red Cross to feed one million in war against Somalia hunger

The Red Cross is undertaking a massive food distribution project across Somalia, in an effort to tackle the worsening hunger crisis in the war-torn nation. "We want to feed one million people by the end of the year," says Yves Van Loo, an aid expert with
Published 12 Oct, 2011 12:00am
The plight of pensioners

The plight of pensioners

Pensioners have to undergo great hardships every month to get their pension from designated branches of banks. At the twilight of their lives, with their weak structures coupled with ageing illnesses, these people spend their whole day to pursue their pen
Published 12 Oct, 2011 12:00am
ZTBL to raise mark-up rate on loans to farmers

ZTBL to raise mark-up rate on loans to farmers

The Zarai Taraqiati Bank (ZTBL) has reportedly decided to increase mark-up rates on loans being given to farmers across the country, sources close to President ZTBL told Business Recorder. Zaka Ashraf, whose tenure expired last month, has been give
Published 12 Oct, 2011 12:00am
UAE pledges full support for BISP: Farzana

UAE pledges full support for BISP: Farzana

Various ministries and organisations working in the social sector of United Arab Emirates (UAE), on behalf of UAE government, have shown their agreement to take various measures aiming to enhance support base for Benazir Income Support Programme (BISP).
Published 12 Oct, 2011 12:00am
Hoti for provision of better education, health facilities

Hoti for provision of better education, health facilities

Chief Minister, Khyber Pakhtunkhwa, Ameer Haider Khan Hoti, has said the government is committed for provision of better education, health and communication facilities to the masses, saying that no stone will be left unturned for reconstruction of schools
Published 12 Oct, 2011 12:00am
Countrywide connectivity: PTCL to facilitate NSO

Countrywide connectivity: PTCL to facilitate NSO

Pakistan Telecommunication Company Limited (PTCL) will facilitate National Savings Organisation (NSO) in transforming into an automated and dynamic corporation by providing countrywide connectivity. NSO is a key player in domestic debt management arena, w
Published 12 Oct, 2011 12:00am
Anonymous e-mail allegations to defame CCP termed 'nothing but junk'

Anonymous e-mail allegations to defame CCP termed 'nothing but junk'

The Chairman of Senate Standing Committee on Finance, Senator Ahmed Ali, categorically declared on Tuesday that anonymous e-mail with allegations of corruption to defame the Competition Commission of Pakistan (CCP) is nothing but junk, and should be throw
Published 12 Oct, 2011 12:00am
Farmers asked to prepare for Rabi crops

Farmers asked to prepare for Rabi crops

The met office has advised the farmers to prepare land particularly rain-dependent areas to grow the next Rabi crops. The advisory came as the met office issued its 10-day advisory for farmers keeping in view the possible change in the weather conditions
Published 12 Oct, 2011 12:00am
Dry weather expected in most parts of country

Dry weather expected in most parts of country

Isolated rain with thunderstorm is expected to hit Balochistan in the next 24 hours, the Met Office said on Tuesday. The westerly wave is still persisting over north Balochistan and Afghanistan, which may result in isolated rains with thunderstorm in thes
Published 12 Oct, 2011 12:00am
FWBL enters into agreement with DEPILEX

FWBL enters into agreement with DEPILEX

The First Women Bank Limited (FWBL) has entered into an agreement with Depilex, one of the oldest and largest brands in the field of beauty therapy, cosmetology and hair sciences in Pakistan. An FWBL statement here on Tuesday said that under this agreemen
Published 12 Oct, 2011 12:00am
KSE notifies listing of Orix Leasing's TFCs

KSE notifies listing of Orix Leasing's TFCs

The Karachi Stock Exchange (KSE) on Tuesday notified the listing of privately placed term finance certificates (PPTFCs) of rupees one billion of Orix Leasing Pakistan Limited under the Regulations Governing Over-The-Counter (OTC) Market of the Exchange.
Published 12 Oct, 2011 12:00am
LEAs arrest 10 suspects, recover weapons

LEAs arrest 10 suspects, recover weapons

Law Enforcement Agencies (LEAs) Tuesday claimed to have arrested 10 suspects and recovered weapons in separate raids in various parts of the metropolis. According to SP CID, Mazhar Mashwani, the Crime Investigation Department (CID) of Sindh police arreste
Published 12 Oct, 2011 12:00am
Ahsan made Engro Foods' Chief Executive

Ahsan made Engro Foods' Chief Executive

Muhammad Afnan Ahsan has been appointed the Chief Executive of Engro Foods Limited effective from October 08, 2011. He replaced Sarfaraz A Rehman, who has left the company to pursue voluntary work for philanthropic causes with various organisations.
Published 12 Oct, 2011 12:00am
Two dead as Nato oil tanker torched

Two dead as Nato oil tanker torched

Two people were killed when gunmen torched an oil tanker carrying fuel for Nato troops in Afghanistan in Balochistan on Tuesday, officials said. Gunmen on a motorbike fired at the vehicle then set it on fire in the Dasht suburb of the provincial capital Q
Published 12 Oct, 2011 12:00am
Afghan woman shot dead in Qila Abdullah

Afghan woman shot dead in Qila Abdullah

Unidentified armed men attacked a car and shot dead an Afghan woman sitting inside it in an area of Qila Abdullah district, said police on Tuesday. "Unknown gunmen opened fire at car in Zarra Band area of Qila Abdullah district," police said, adding that
Published 12 Oct, 2011 12:00am
Italian team visits FPCCI

Italian team visits FPCCI

Italian investors are interested to invest in Pakistan along with participating in the reconstruction activities in various areas of Sindh affected by the recent rains and the flood. This was stated by a delegation from Italy, comprising prominent busines
Published 12 Oct, 2011 12:00am
Agility maintaining mysterious silence

Agility maintaining mysterious silence

The Kuwait-based software supplier, Agility, which owns Pakistan Automated Customs Computerised System (PaCCS), is maintaining a mysterious silence over Federal Board of Revenue's move to shift consignment clearance from PaCCS to Web Based One Custom (WeB
Published 12 Oct, 2011 12:00am
Zardari presents FPCCI Trophy for tallest skyscraper

Zardari presents FPCCI Trophy for tallest skyscraper

President of Pakistan Asif All Zardari has presented the 35th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Trophy Award to CEO Triple Tree Associates and Siddiqsons Group of Companies, Tariq Rafi, on successful completion of the talles
Published 12 Oct, 2011 12:00am
President to lay foundation stone of Thar airport on October 20

President to lay foundation stone of Thar airport on October 20

According to a letter from President's Secretariat, President Asif Ali Zardari will lay the foundation stone of Thar airport at Islamakot, near by Thar coal project on October 20, 2011. Sources in Sindh Coal and Energy Department told Business Recorder
Published 12 Oct, 2011 12:00am
Study on two blocks of Thar Coal project completed

Study on two blocks of Thar Coal project completed

Sindh Secretary for Coal and Energy Department, Younus Dhaga, has said that out of four, study on two blocks of Thar Coal and energy project has been completed while work on remaining two is being carried out with rapid pace. He said that execution work b
Published 12 Oct, 2011 12:00am
KESC's humanitarian gesture to school for blind & deaf

KESC's humanitarian gesture to school for blind & deaf

Karachi Electric Supply Company (KESC) has decided to replace a defaulting PMT in Soldier Bazaar on humanitarian grounds to provide relief to a school for blind among power recipients. The 150kV PMT had developed fault through illegal use of electricity l
Published 12 Oct, 2011 12:00am
US MIDDAY: gold dips

US MIDDAY: gold dips

Gold fell on Tuesday to give up some of the previous day's gains on selling prompted by the dollar's strength and uncertainty ahead of a key vote in Slovakia on expanding the eurozone rescue fund. Bullion fell while industrial metals, led by copper, tumbl
Published 12 Oct, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper shed nearly 3 percent on Tuesday as worries about the sustainability of China's economy compounded the Western world's growth prospects. Investors dumped copper, one of the Asian giant's top imports. It was the metal's first down-day in the past fi
Published 12 Oct, 2011 12:00am
US MIDDAY: grains surge

US MIDDAY: grains surge

US grain futures extended their rally in midmorning trading on Tuesday, with soyabeans tracking their biggest gain in nearly seven months on talk of fresh purchases by China after prices fell to a one-year low earlier this month. Wheat gained 4 percent an
Published 12 Oct, 2011 12:00am
Gold falls in Europe

Gold falls in Europe

Gold eased 1 percent on Tuesday, giving up some of the previous day's gains, as stocks and the euro were pressured by waning optimism over a new plan to tackle eurozone debt, and ahead of a vote in Slovakia to ratify changes to the bloc's rescue fund. Spo
Published 12 Oct, 2011 12:00am
Gold gains in Asia

Gold gains in Asia

Spot gold prices edged higher on Tuesday, building on a rally of more than 2 percent in the previous session, as optimism about a resolution of the eurozone's debt crisis underpinned market sentiment. Spot gold rose to $1,684.36 an ounce earlier in the da
Published 12 Oct, 2011 12:00am
US gold rises

US gold rises

Gold rose 2 percent on Monday in a risk rally with equities and commodities, as the dollar tumbled after a renewed Franco-German pledge to introduce a plan to resolve the eurozone's debilitating debt crisis. Spot gold was up 2.1 percent by $1,672.70 an ou
Published 12 Oct, 2011 12:00am
Soft commodities tumble

Soft commodities tumble

Sugar, coffee and cocoa futures fell on Tuesday as they were pressured by renewed fears about the eurozone debt crisis and by perceptions investors will get a better return in other markets. Investors were increasingly edgy ahead of a finely balanced vote
Published 12 Oct, 2011 12:00am
US grains futures up

US grains futures up

US grain futures rose on Monday, with soyabeans hitting a 10-day high, as a plan promised by Germany and France to re-capitalise Europe's banks eased concerns over global economic growth. The optimism weighed on the dollar index, which was down 1.7 percen
Published 12 Oct, 2011 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian palm oil futures closed higher on Tuesday on strong exports, but gains were limited by caution ahead of a key US report this week that could show a rise in soybean stocks, which could mean larger supplies of a competing edible oil. Any rise in s
Published 12 Oct, 2011 12:00am
Tokyo, Shanghai rubber soar

Tokyo, Shanghai rubber soar

Key TOCOM rubber futures rose for the fifth consecutive session on Tuesday, though half their gains for the day were wiped out with uncertainty over the outlook for the global economy capping any advances. The key Tokyo Commodity Exchange rubber contract
Published 12 Oct, 2011 12:00am
Brent rises above $111

Brent rises above $111

Brent crude oil futures gained as the euro rose against the dollar, surpassing $111 a barrel on Tuesday, for the fifth straight session of gains as investor optimism ahead of corporate earnings season lifted markets. The euro's resumption of its advance a
Published 12 Oct, 2011 12:00am
Copper drops three percent

Copper drops three percent

Copper slipped nearly three percent on Tuesday on concerns over the eurozone debt crisis as well as action by China's sovereign wealth fund to stabilise its major lenders which jilted confidence in the world's top consumer of metals. Benchmark copper on t
Published 12 Oct, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Copper fell on Tuesday as investors continued to fret over the eurozone's finances and prospects for global economic demand, while a rise in Chinese equities briefly lifted Shanghai copper, though it retreated after the benchmark index pared gains. The mo
Published 12 Oct, 2011 12:00am
US copper stays up

US copper stays up

Copper pushed higher for a fourth straight day on Monday after a promise from German and French leaders to resolve the European debt crisis dented the dollar's safe-haven appeal and ignited a broad-based risk rally. In New York, the key December COMEX con
Published 12 Oct, 2011 12:00am
New York cotton settles a touch higher

New York cotton settles a touch higher

Cotton futures ended fractionally higher on Tuesday in see-saw business as players adjusted positions ahead of the release of a vital government crop tomorrow, analysts said. The key December cotton contract on ICE Futures US rose 0.13 cent to end at $1.0
Published 12 Oct, 2011 12:00am
Unilever Pakistan Limited

Unilever Pakistan Limited

Unilever Pakistan began its operations in 1948 and it is the largest fast-moving consumer goods (FMCG) manufacturing company in Pakistan. Unilever owns 70.4 percent stake in Unilever Pakistan. The company operates through five regional offices, four wholl
Published 12 Oct, 2011 12:00am
Unilever Pakistan Limited

Unilever Pakistan Limited

Unilever Pakistan began its operations in 1948 and it is the largest fast-moving consumer goods (FMCG) manufacturing company in Pakistan. Unilever owns 70.4 percent stake in Unilever Pakistan. The company operates through five regional offices, four wholl
Published 12 Oct, 2011 12:00am
Railways closes 54 passenger trains due to fuel shortage

Railways closes 54 passenger trains due to fuel shortage

Pakistan Railways principally decided to close 54 short-distance passenger trains due to sever shortage of stored oil, besides shutting down 102 trains due to shortage of locomotives, sources told Business Recorder here on Tuesday. The PR is again
Published 12 Oct, 2011 12:00am
Punjab government sets wheat production target at 19.2 million tons

Punjab government sets wheat production target at 19.2 million tons

The Punjab government has set wheat production target at 19.2 million tons on a sowing area of 16.8 million acres during Rabi season 2011-12. The provincial agriculture department has advised the wheat growers to complete sowing of their crop by November
Published 12 Oct, 2011 12:00am
Education is only way to progress and prosperity: chief minister Punjab

Education is only way to progress and prosperity: chief minister Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif has said that reforms programme, implemented in schools, is yielding positive results, and observed that education is the only way to progress and prosperity and keeping in view this fact the Punjab government
Published 12 Oct, 2011 12:00am
Toppling of Nawaz government: PML-N to observe Black Day today

Toppling of Nawaz government: PML-N to observe Black Day today

The Pakistan Muslim League-Nawaz (PML-N) to observe Black Day on Wednesday (today) to mark October 12, 1999, military take-over by General Pervez Musharraf after dismissing the elected government Nawaz Sharif. To mark the day, the PML-N has arranged funct
Published 12 Oct, 2011 12:00am
Ukraine jails Tymoshenko for seven years, irks EU, Russia

Ukraine jails Tymoshenko for seven years, irks EU, Russia

A Ukrainian court on Tuesday sentenced former prime minister Yulia Tymoshenko to seven years in prison for abuse of office in relation to a 2009 gas deal with Russia that she brokered, a case regarded widely in the West as politically orchestrated. The Un
Published 12 Oct, 2011 12:00am
France strikes deal for surtax on rich

France strikes deal for surtax on rich

The French government and lawmakers have struck a deal to hit the wealthy with a special surtax as part of efforts to keep France's deficit-reduction targets on course, a top deputy said on Tuesday. Under a savings package unveiled in August, the governme
Published 12 Oct, 2011 12:00am
Head of Libya's NTC visits Sirte

Head of Libya's NTC visits Sirte

Libya's interim chief paid a symbolic visit to Muammar Qadhafi's battle-torn hometown of Sirte on Tuesday, saying his forces needed two more days to capture the last major stronghold of the deposed leader. Taking Sirte would bring Libya's National Transit
Published 12 Oct, 2011 12:00am
Seven killed in Syria, as Assad plans new constitution

Seven killed in Syria, as Assad plans new constitution

Syrian security forces continued Tuesday their crackdown on pro-democracy activists in the region of Homs, killing at least seven people, while reports indicated that Syrian President Bashar al-Assad is working on creating a new constitution for his count
Published 12 Oct, 2011 12:00am
World less hungry but many still at grave risk

World less hungry but many still at grave risk

The level of hunger world-wide has dropped in recent years but 26 countries still face extremely dangerous food shortages and are threatened by rising prices, a major report said Tuesday. The Global Hunger Index, released by the Washington-based Internati
Published 12 Oct, 2011 12:00am
Egypt's finance minister resigns

Egypt's finance minister resigns

Egypt's Finance Minister Hazem el-Beblawi has quit after less than three months in the post over the government's handling of a protest by Coptic Christians on Sunday night, an aide to Beblawi said on Tuesday. The protest ended with clashes between the ar
Published 12 Oct, 2011 12:00am
Bangladesh launches $130 laptop for schools

Bangladesh launches $130 laptop for schools

Bangladesh on Tuesday unveiled a $130 locally made laptop that it hopes will help bridge the digital divide in the impoverished South Asian country. Prime Minister Sheikh Hasina unveiled the Doel - or magpie - laptops at a ceremony in the capital Dhaka, s
Published 12 Oct, 2011 12:00am
Eight die in Kazakh oil reservoir fire

Eight die in Kazakh oil reservoir fire

Eight contract workers died at a Kazakh oil storage facility Tuesday after a fire broke out during routine maintenance work, the state-owned KazTransOil oil transport company said in a statement. Workers were cleaning equipment at the company's Aktau oil
Published 12 Oct, 2011 12:00am
Taliban bomb kills seven Afghans

Taliban bomb kills seven Afghans

Taliban bombers on Tuesday targeted and killed an Afghan tribal elder and six of his bodyguards in the volatile southern province of Kandahar, officials said. Abdul Wali, deputy head of Zhari district, was travelling from the provincial capital to his hom
Published 12 Oct, 2011 12:00am
British, US forces free hijacked ship

British, US forces free hijacked ship

US and British forces stormed a hijacked Italian cargo ship in the Indian Ocean on Tuesday, freeing the 23-man crew and capturing all 11 Somali pirates, Italian officials said. The foreign ministry issued a statement welcoming the release which it said wa
Published 12 Oct, 2011 12:00am
Obama refused missile shield deal with Russia

Obama refused missile shield deal with Russia

US President Barack Obama refused to sign a missile shield deal with Russia, a decision that could wreck an upcoming summit and spark a new arms race between the two countries, Russia's authoritative Kommersant newspaper reported on Tuesday. The article q
Published 12 Oct, 2011 12:00am
Bahrain newspaper editors fined over unrest

Bahrain newspaper editors fined over unrest

A Bahraini court sentenced four journalists on Tuesday to fines of 1,000 Bahraini dinars ($2,650) each for publishing false news during martial law imposed in the Gulf Arab state to crush a pro-democracy protest movement, one of them said. Mansoor al-Jamr
Published 12 Oct, 2011 12:00am
Three peacekeepers killed in Sudan's Darfur

Three peacekeepers killed in Sudan's Darfur

Three international peacekeepers were killed and six wounded when their patrol came under attack in Sudan's troubled Darfur region, their force said on Tuesday. Unidentified gunmen attacked the peacekeepers late on Monday in a camp for displaced persons s
Published 12 Oct, 2011 12:00am
US must focus on Asia on diplomacy, economy: Hillary Clinton

US must focus on Asia on diplomacy, economy: Hillary Clinton

US Secretary of State Hillary Clinton on Tuesday renewed calls for the United States to invest more of its diplomatic, economic and military energy in Asia in order to remain a world leader. Writing in Foreign Policy Magazine, Clinton said the United Stat
Published 12 Oct, 2011 12:00am
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