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Archive - 2011-10-15
Singh seeks to allay Islamabad's fears
Top News

Singh seeks to allay Islamabad's fears

MUSHTAQ GHUMMAN ISLAMABAD: Indian Prime Minister Dr. Manmohan Singh has reportedly sought to allay Islamabad's fears
Published 15 Oct, 2011 04:48am
President for implementation of energy projects

President for implementation of energy projects

President Asif Ali Zardari on Friday presided over a briefing meeting at President's House. The meeting took stock of oil and gas situation in the country. The meeting was attended among others by Dr Abdul Hafeez Sheikh, Finance Minister, Syed Naveed Qama
Published 15 Oct, 2011 12:00am
President for implementation of energy projects

President for implementation of energy projects

President Asif Ali Zardari on Friday presided over a briefing meeting at President''s House. The meeting took stock of oil and gas situation in the country. The meeting was attended among others by Dr Abdul Hafeez Sheikh, Finance Minister, Syed Naveed Qam
Published 15 Oct, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
Index up 21.8 points

Index up 21.8 points

After witnessing a mixed trend on Friday, the KSE-100 index finally managed to close in positive at 11,988.09 points, up 21.80 points on the back of late buying in some selective stocks. The index remained oscillating between 12,023.01 points intra-day hi
Published 15 Oct, 2011 12:00am
Index up 21.8 points

Index up 21.8 points

After witnessing a mixed trend on Friday, the KSE-100 index finally managed to close in positive at 11,988.09 points, up 21.80 points on the back of late buying in some selective stocks. The index remained oscillating between 12,023.01 points intra-day hi
Published 15 Oct, 2011 12:00am
Index up 21.8 points

Index up 21.8 points

After witnessing a mixed trend on Friday, the KSE-100 index finally managed to close in positive at 11,988.09 points, up 21.80 points on the back of late buying in some selective stocks. The index remained oscillating between 12,023.01 points intra-day hi
Published 15 Oct, 2011 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee managed to retain its overnight surge versus dollar and euro on the currency market on Friday, dealers said. The rupee gained 33 paisa against dollar for buying at 86.51 and rose by 32 paisa for selling at 86.56, they said.
Published 15 Oct, 2011 12:00am
BRIndex30 up 13.01 points

BRIndex30 up 13.01 points

On Fri-day, the BRIndex30 opened at 9,285.67 points. It touched the intra-day high of 9,329.26 points and low of 9,226.91 points, and closed at 9,298.68 points with a net positive change of 13.01 points, or 0.14 percent higher than previous close.
Published 15 Oct, 2011 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee managed to retain its overnight surge versus dollar and euro on the currency market on Friday, dealers said. The rupee gained 33 paisa against dollar for buying at 86.51 and rose by 32 paisa for selling at 86.56, they said.
Published 15 Oct, 2011 12:00am
BRIndex30 up 13.01 points

BRIndex30 up 13.01 points

On Fri-day, the BRIndex30 opened at 9,285.67 points. It touched the intra-day high of 9,329.26 points and low of 9,226.91 points, and closed at 9,298.68 points with a net positive change of 13.01 points, or 0.14 percent higher than previous close.
Published 15 Oct, 2011 12:00am
Fitch downgrades UBS; puts EU, US banks on watch

Fitch downgrades UBS; puts EU, US banks on watch

Fitch ratings agency downgraded Swiss bank UBS on Thursday while putting 12 other major European and US banks on negative ratings watches, amid worries over fragile global growth. While UBS was dropped one notch on the basis that Fitch no longer believes
Published 15 Oct, 2011 12:00am
Fitch downgrades UBS; puts EU, US banks on watch

Fitch downgrades UBS; puts EU, US banks on watch

Fitch ratings agency downgraded Swiss bank UBS on Thursday while putting 12 other major European and US banks on negative ratings watches, amid worries over fragile global growth. While UBS was dropped one notch on the basis that Fitch no longer believes
Published 15 Oct, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
Fitch downgrades UBS; puts EU, US banks on watch

Fitch downgrades UBS; puts EU, US banks on watch

Fitch ratings agency downgraded Swiss bank UBS on Thursday while putting 12 other major European and US banks on negative ratings watches, amid worries over fragile global growth. While UBS was dropped one notch on the basis that Fitch no longer believes
Published 15 Oct, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
US candidate Romney among fundraising leaders

US candidate Romney among fundraising leaders

Mitt Romney's campaign raised more than $14 million in the third quarter, signalling that the Republican US presidential hopeful's fund-raising remains robust despite big swings in opinion polls.
Published 15 Oct, 2011 12:00am
Tajik BBC reporter guilty but freed; West slams trial

Tajik BBC reporter guilty but freed; West slams trial

A BBC reporter in Tajikistan was sentenced to three years in jail on Friday for belonging to a banned Islamist group, but he was immediately granted an amnesty. There had been widespread Western criticism that Urunboy Usmonov's trial had been politically
Published 15 Oct, 2011 12:00am
PPP to stage sit-in against Punjab government

PPP to stage sit-in against Punjab government

Opposition leader in the Punjab Assembly Raja Riaz has announced that Pakistan People's Party will protest against the failure of the Punjab govt in eliminating dengue, Aaj News reported. Talking to media the opposition leader said that dengue has
Published 15 Oct, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (October 14, 2011) and for Saturday (October 15, 2011).
Published 15 Oct, 2011 12:00am
US man gets double hand transplant

US man gets double hand transplant

A US man spoke Friday of his happiness at the prospect of touching his young grandchildren for the first time, following a rare double hand transplant at a Boston hospital. Richard Mangino, 65, lost his arms below the elbows and his lower legs from an inf
Published 15 Oct, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
LSE index gains 18.14 points

LSE index gains 18.14 points

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday where equities moved both ways on account of investors' cautious approach who picked selected shares on dip and sell on strength ahead of weekend. The LSE-25 index gained 18.14 points
Published 15 Oct, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on October 11, 2011.

Published 15 Oct, 2011 12:00am
LSE index gains 18.14 points

LSE index gains 18.14 points

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday where equities moved both ways on account of investors' cautious approach who picked selected shares on dip and sell on strength ahead of weekend. The LSE-25 index gained 18.14 points
Published 15 Oct, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on October 11, 2011.

Published 15 Oct, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 4.36 points, as the Index moved from 2,619.72 to 2,624.0
Published 15 Oct, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on October 11, 2011.

Published 15 Oct, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 4.36 points, as the Index moved from 2,619.72 to 2,624.0
Published 15 Oct, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 15 Oct, 2011 12:00am
Rashid alleges massive corruption in railways

Rashid alleges massive corruption in railways

Awami Muslim League (AML) president and former Minister for railways Sheikh Rashid has alleged massive corruption in Pakistan Railways and announced to hold protest across the country to press the government for the restoration of this vital sinking organ
Published 15 Oct, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 15 Oct, 2011 12:00am
MEPCO cuts off power supply to defaulting departments

MEPCO cuts off power supply to defaulting departments

Multan Electric Power Company (MEPCO) disconnected power supply to a number of departments for their failure to clear the bills. Pakistan Railway's Multan cantt, city station, colonies and other installation, prisons, civil defence, district courts, irrig
Published 15 Oct, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (October 14, 2011).

Published 15 Oct, 2011 12:00am
UAF to name hostels after Turkish President, Prime Minister

UAF to name hostels after Turkish President, Prime Minister

The University of Agriculture will name its two newly constructed hostels set up at Postgraduate Agricultural Research Station, UAF, on the names of Turkish leader Tayyip Erdogan, Prime Minister and Abdullah Gul, President of Turkey, in order to strengthe
Published 15 Oct, 2011 12:00am
The Weather

The Weather

The weather forecast is not being published as the Met Office did not update its Website on Friday.

Published 15 Oct, 2011 12:00am
Punjab government to gear up campaign against pilferage of medicines

Punjab government to gear up campaign against pilferage of medicines

Logistic support and additional staff would be provided to the Drug Inspectors for gearing up the ongoing campaign against pilferage of medicines from government hospitals and the preparation and sale of substandard drugs. It was decided in a meeting of t
Published 15 Oct, 2011 12:00am
Pakistan calls for talks on nuclear disarmament

Pakistan calls for talks on nuclear disarmament

Pakistan has urged "some major powers" to commence negotiations on the larger issue of nuclear disarmament instead of pushing for a treaty to ban production of fissile material used as fuel for atomic weapons, saying the treaty was a limited non-prolifera
Published 15 Oct, 2011 12:00am
Power supply to Khanpur station cut off again

Power supply to Khanpur station cut off again

The power supply to Khanpur railway station was again cut off over non-payment of a Rs 4.9 million bill on Friday. Earlier, Wapda had provided relief for three days to the Pakistan Railways to pay the bill which was Rs 3.3 million. However, another Rs 1.6
Published 15 Oct, 2011 12:00am
UN peace mission: LHC seeks reply from interior ministry

UN peace mission: LHC seeks reply from interior ministry

The Lahore High Court (LHC) here on Friday sought reply from interior ministry by October 18 in a petition of government employees challenging drop of their names from the United Nation peace mission. The petitioners including six employees of anti-corrup
Published 15 Oct, 2011 12:00am
Lack of quorum leads to adjournment of Punjab Assembly session

Lack of quorum leads to adjournment of Punjab Assembly session

The lack of quorum in Punjab Assembly led to adjournment of the 31st session of the house by the chair on the very first day. The house, which met here with Speaker Rana Muhammad Iqbal in the chair, passed a resolution unanimously to condole the death of
Published 15 Oct, 2011 12:00am
Dengue claims seven more lives

Dengue claims seven more lives

Another seven people lost their lives on account of dengue fever during the last 24 hours, raising the total death toll to 224, of which, 200 relate to Lahore. Secretary Agriculture Punjab (Focal Person for dengue) Arif Nadeem told reporters at a briefing
Published 15 Oct, 2011 12:00am
PCF slams fertiliser manufactures

PCF slams fertiliser manufactures

Chairman Pakistan Cotton Forum (PCF) Seth Muhammad Akbar has criticised the fertiliser manufacturers for their anti-textile campaign. The chairman PCF said fertiliser manufacturers should know that the textile industry was mainstay of the economy and cont
Published 15 Oct, 2011 12:00am
Shahbaz to lead 'Go Zardari Go Rally' on October 23

Shahbaz to lead 'Go Zardari Go Rally' on October 23

Pakistan Muslim League-N MNA Hamza Shahbaz Sharif has announced that Chief Minister Punjab Shahbaz Sharif will lead the 'Go Zardari Go Rally' which will be taken out from Nasir Bagh on October 23. He was talking to media after the international conference
Published 15 Oct, 2011 12:00am
Government has no permanent solution to power crisis: Nawaz

Government has no permanent solution to power crisis: Nawaz

Pakistan Muslim League-Nawaz Chief Nawaz Sharif has said present PPP-led government does not have any permanent solution to the problem of loadshedding. The PML-N chief further said that the industrial activities were very slow as a result thousands of la
Published 15 Oct, 2011 12:00am
Joint exercise of Pakistani army, Saudi land forces concludes

Joint exercise of Pakistani army, Saudi land forces concludes

A three weeks long joint exercise between Pakistan army and Royal Saudi Land Forces concluded successfully near Jhelum on Friday. It is worth mentioning here that the joint exercise (AL-SAMSAAM-IV-2011) aimed at familiarisation and sharing of information
Published 15 Oct, 2011 12:00am
July and August 2011: over 95 percent taxpayers filed ST returns

July and August 2011: over 95 percent taxpayers filed ST returns

Over 95 percent of taxpayers have successfully filed sales tax returns for the tax periods of July and August 2011. Sources told Business Recorder here on Friday that a very small percentage of taxpayers have not yet filed their returns for these t
Published 15 Oct, 2011 12:00am
Bonded warehouse to be set up at Dry Port: SDPT chief

Bonded warehouse to be set up at Dry Port: SDPT chief

Chairman Sialkot Dry Port Trust (SDPT) Muhammad Ishaq Butt said the port is providing adequate facilities to the business communities of Sialkot, Gujranwala and Gujrat-the golden triangle of Punjab.
Published 15 Oct, 2011 12:00am
LHC rejects two weekly holidays in Punjab courts

LHC rejects two weekly holidays in Punjab courts

The Lahore High Court (LHC) rejecting the two weekly holidays has decided that all subordinate courts in Punjab will continue to work as per routine. Registrar LHC Sohail Nasir said in a statement issued here that a federal government notification was rec
Published 15 Oct, 2011 12:00am
Full LHC bench to hear peitions against Zardari, Gilani

Full LHC bench to hear peitions against Zardari, Gilani

The Lahore High Court Chief Justice Ijaz Ahmad Chaudhry here Friday constituted a full bench to hear petitions against President Asif Ali Zardari for not disassociating himself from political activities and Prime Minister (PM) Syed Yousuf Raza Gilani for
Published 15 Oct, 2011 12:00am
Youth burned in police custody dies

Youth burned in police custody dies

Muhammad Azeem, 18, who was burnt seriously in police custody six days ago, succumbed to his burn injuries in Allied Hospital here Friday morning. Three policemen have been arrested following the incident and investigation into the case is in progress. Ac
Published 15 Oct, 2011 12:00am
Eight injured in Lyari grenade attack

Eight injured in Lyari grenade attack

As many as eight persons including two police officials on Friday sustained injuries when two unidentified men, riding on a bike, threw grenade at Jalali Snooker Club located at Tannery road, Bihar Colony in Chakiwara police remits, said police and rescue
Published 15 Oct, 2011 12:00am
SAI rejects rise in water tariff

SAI rejects rise in water tariff

The Executive Committee of SITE Association of Industry (SAI) has rejected the increase in water tariff by Rs 215 per thousand gallons for industrial consumers from current month. The association held an exclusive meeting on Friday to review the increase
Published 15 Oct, 2011 12:00am
Income tax 2011: taxpayers facing difficulty in filing returns

Income tax 2011: taxpayers facing difficulty in filing returns

Taxpayers are facing immense difficulties in filing income tax returns for year 2011 due to faults in the return form. According to complaint received from Imtiaz Abbas Hussain, FCA, consultant, although the Federal Board of Revenue (FBR) keeps extending
Published 15 Oct, 2011 12:00am
Sindh government forgets World Rural Women Day

Sindh government forgets World Rural Women Day

Sindh government has forgotten to observe World Day of Rural Women, supposed to be celebrated on 15th October 2011, Business Recorder has learnt. The whole world assigns great social importance to World day of Rural Women and observes it in overwhe
Published 15 Oct, 2011 12:00am
EoBI, social security: government's decision to refund amount hailed

EoBI, social security: government's decision to refund amount hailed

Chairman, Site Association of Industry. Muhammad Irfan Moton has hailed the decision taken in the meeting of exporters at Pakistan Textile Exporters Association attributing to the Secretary, Textile Industry, Shahid Rashid that the government has decided
Published 15 Oct, 2011 12:00am
Duty free export to EU: Baig optimistic about Indian support

Duty free export to EU: Baig optimistic about Indian support

Chairman Standing Committee on Banking, Credit and Finance FPCCI, Dr Baig is optimistic that as per the joint declaration of the two commerce ministers in Delhi, India will support Pakistan and withdraw their objection against duty free export to EU in th
Published 15 Oct, 2011 12:00am
Pakistan and Indonesia Business Forum inaugural ceremony tomorrow

Pakistan and Indonesia Business Forum inaugural ceremony tomorrow

The inaugural ceremony of Pakistan-Indonesia Business Forum (PIBF) will be held on Sunday (tomorrow) in Karachi. The Patron-in chief of the PIBF is H.E. Ishak Latuconsina, Ambassador of the Republic of Indonesia and President of PIBF is Abdul Majid Haji M
Published 15 Oct, 2011 12:00am
Minister for diversification, value-addition of local products

Minister for diversification, value-addition of local products

The Federal Minister for Science and Technology, Mir Changez Khan Jamali on Friday stressed the need of diversification and value-addition of the local products to boost the country's trade share globally. Speaking as a chief guest at the seminar titled "
Published 15 Oct, 2011 12:00am
$2.23 trillion Russian market remains untapped

$2.23 trillion Russian market remains untapped

Trade impediments need to be resolved jointly by public and private sectors to capture the untapped $2.23 trillion Russian consumer market. This was stated by Farooq Afzal, CEO, Forum and former Chairman of Pak-Russia Business Council of Federation of Pak
Published 15 Oct, 2011 12:00am
Al Baraka launches business plus account

Al Baraka launches business plus account

AL Baraka Bank (Pakistan) Limited (ABPL) on Friday announced the launch of its AL Baraka Business Plus Account. "This new addition to its existing comprehensive product portfolio is set on the basic principles of Mudaraba'h, tailored to suit the business'
Published 15 Oct, 2011 12:00am
Government committed to caring for visually impaired: President

Government committed to caring for visually impaired: President

President Asif Ali Zardari said the government was committed to address the issues of special people including those afflicted with impaired vision and blindness and called for establishing highest standards for their care. In a message on the Internation
Published 15 Oct, 2011 12:00am
UVAS observes World Egg Day

UVAS observes World Egg Day

The University of Veterinary and Animal Sciences (UVAS) is observing World Egg Day to create awareness in the public about the nutritional value of eggs. To mark World Egg Day UVAS organised a seminar on 'importance of egg as a healthy diet' on Friday in
Published 15 Oct, 2011 12:00am
LCCI takes strong exception to power tariff raise

LCCI takes strong exception to power tariff raise

Lahore Chamber of Commerce & Industry (LCCI) Friday took strong exception to the government for its decision regarding over 30 percent (Rs 3.04 per unit) increase in the power tariff and urged the government to withdraw this devastating and irrational ste
Published 15 Oct, 2011 12:00am
LPG cargos arrive ahead of high-demand winter cycle

LPG cargos arrive ahead of high-demand winter cycle

Private sector LPG imports have started arriving in Pakistan to meet the anticipated high-demand cycle during the oncoming winter season, the LPG Association of Pakistan (LPGAP) said on Friday. "The private sector is robust and proactive in ensuring deman
Published 15 Oct, 2011 12:00am
PIAF for setting up of power projects

PIAF for setting up of power projects

Pakistan Industrial and Traders Associations Front (PIAF) has urged the federal government to notify and allow setting up of 500 MW power generation projects to the provincial governments as per the 18th Amendment. Chairman PIAF and Advisor to Governor Gi
Published 15 Oct, 2011 12:00am
Few expelled students attempt to defame PU: Teachers Front

Few expelled students attempt to defame PU: Teachers Front

A few expelled students of Punjab University backed by some faculty members and employees attempted to defame Punjab University and distributed pamphlets outside Punjab Assembly and tried to misguide honourable assembly members.
Published 15 Oct, 2011 12:00am
'Annual egg consumption not satisfactory in Pakistan'

'Annual egg consumption not satisfactory in Pakistan'

Pakistan poultry industry is producing 10,710 million table eggs annually and the annual egg consumption in Pakistan is only 55 to 60 per person per annum which is far below than the annual consumption of 300 eggs per person suggested by the experts.
Published 15 Oct, 2011 12:00am
Anti-dengue brigade formed

Anti-dengue brigade formed

The City District Government Lahore has on Friday formed a Special Dengue Brigade consisting of 20 vehicles for eradication of dengue virus, which will provide quick response to the citizens on the identification of dengue larvae and its elimination. Punj
Published 15 Oct, 2011 12:00am
Agriculture, ethanol: Brazil ready to offer technical help to Pakistan

Agriculture, ethanol: Brazil ready to offer technical help to Pakistan

The Brazilian government is ready to offer technical co-operation to Pakistan through sharing of knowledge, technology and expertise in agriculture and ethanol on the request of Government of Pakistan, said Bruno de Amorim Maciel, Project Analyst, Ministr
Published 15 Oct, 2011 12:00am
Clarification

Clarification

The Planning Commission has issued the following clarification: "This is with reference to the article "Poverty Estimates" published in one of the leading newspapers, quoting the Deputy Chairman Planning Commission of Pakistan Dr Nadeem ul Haque on the re
Published 15 Oct, 2011 12:00am
Petition against Zaka Ashraf admitted for hearing

Petition against Zaka Ashraf admitted for hearing

The Supreme Court Friday accepted a writ petition for hearing against Muhammad Zaka Ashraf, appointed by President Asif Ali Zardari to succeed former PCB Chief Ijaz Butt, for illegal appointments at Zarai Taraqiati Bank Limited (ZTBL). The Supreme Court h
Published 15 Oct, 2011 12:00am
Government committed to complete Lowari Tunnel: Arbab

Government committed to complete Lowari Tunnel: Arbab

Federal Minister for Communications, Dr Arbab Alamgir Khan, said that the government is committed to complete mega Lowari tunnel development project in district Chitral, saying that the scheme will not only benefit to local, but will strengthen road linka
Published 15 Oct, 2011 12:00am
IBM System installed at Islamabad airport

IBM System installed at Islamabad airport

Minister for Interior, Rehman Malik on Friday said the Integrated Border Management System (IBMS) is an important achievement which would be helpful in keeping record of travellers and tracking down criminals.
Published 15 Oct, 2011 12:00am
FPCCI, ICCI, trade bodies reject energy conservation plan

FPCCI, ICCI, trade bodies reject energy conservation plan

Business and trade associations including Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Islamabad Chamber of Commerce Industry (ICCI) out-rightly rejected the government's energy conservation plan, vowing that the plan would be stro
Published 15 Oct, 2011 12:00am
'Government trying to resolve people's problems'

'Government trying to resolve people's problems'

PPP MNA Syeda Nafeesa Shah on Friday has said that the government of Pakistan Peoples Party (PPP) is trying its best to resolve the problems being faced by the people of the country. Talking to APP, she said the government is providing relief through vari
Published 15 Oct, 2011 12:00am
Consensus among parties reached on code of conduct in Fata

Consensus among parties reached on code of conduct in Fata

The mainstream political and religious parties on Friday reached a consensus for formation of Code of Conduct in order to streamline and motivate political process in Federally Administered Tribal Areas (FATA) on sustainable basis.
Published 15 Oct, 2011 12:00am
ACCA organises Career Expo

ACCA organises Career Expo

ACCA Pakistan organised Career Expo in Lahore, Islamabad, Karachi, Abbottabad, Rawalpindi, Peshawar, Sialkot, Multan, Faisalabad, Gujranwala and Hyderabad. The Career Expo comprised presentations on Career Planning, ACCA qualification / Foundations in Acc
Published 15 Oct, 2011 12:00am
Sindh University announcement

Sindh University announcement

The University of Sindh has extended date up to October 25 for submission of forms for admissions to bachelors, masters and MS/M.Phil degree programmes for the academic session 2012, here on Friday. Last date for submission of admission forms at Sindh Uni
Published 15 Oct, 2011 12:00am
ACC to decide fate of case against doctors

ACC to decide fate of case against doctors

The Anti-Corruption Committee (ACC-1) would decide the fate of case against the three-doctors of Abbasi Shaheed Hospital of Karachi in next meeting, reliable sources told Business Recorder. Former Chairman Anti-corruption Establishment Ramzan Chann
Published 15 Oct, 2011 12:00am
Adamjee Life Growth Fund performance sees positive trend

Adamjee Life Growth Fund performance sees positive trend

Adamjee Life Growth Fund performance during September saw a positive trend, the per unit NAVs (as of September 30, 2011): was as follows. Investment Secure Fund, Bid 103.6663; Offer 109.1224. Investment Multiplier Fund, Bid 103.2091; Offer 106.6312.
Published 15 Oct, 2011 12:00am
High prices may deprive people of Qurbani

High prices may deprive people of Qurbani

A very large number of people may not be able to afford even a share in combined Qurbani this year due to high prices of sacrificial animals. Different Masajids and organisations have displayed banners offering a share in sacrificial animals ranging from
Published 15 Oct, 2011 12:00am
Gold, silver price remain unchanged

Gold, silver price remain unchanged

The price of gold on Friday remained unchanged at Rs 55, 500 per tola on the local market, traders said. The price of gold per 10 grams also stayed the same as Rs 47, 571. On the global market, the yellow metal price also cited unmoved at $1674 an ounce,
Published 15 Oct, 2011 12:00am
MAP organises seminar on ST on services

MAP organises seminar on ST on services

Management Association of Pakistan (MAP) recently held a seminar in collaboration with Sindh Revenue Board on "Sindh Sales Tax on Services - Legal Status Methodology for Collection" at a local hotel. The seminar provided insight into various issues pertai
Published 15 Oct, 2011 12:00am
2005 earthquake victims HBFCL writes off all loans

2005 earthquake victims HBFCL writes off all loans

Victims of the devastating earthquake 6 years ago received long awaited relief as House Building Finance Company Limited, HBFCL, (formerly known as House Building Finance Corporation Limited) distributed ownership/title documents to borrowers who had beco
Published 15 Oct, 2011 12:00am
'Punjab government to distribute 0.5 million anti-dengue kits'

'Punjab government to distribute 0.5 million anti-dengue kits'

Pakistan Muslim League-N (PML-N) leader Hamza Shahbaz Sharif has said that Punjab government will distribute 0.5 million anti-dengue kits for the eradication of dengue virus. Addressing the workers belonging to all towns of the city, Hamza said that PML-N
Published 15 Oct, 2011 12:00am
Laid off workers give 10-day ultimatum to KESC

Laid off workers give 10-day ultimatum to KESC

KESC labour union has given a 10-day ultimatum to the management to implement the agreement brokered on July 26 and warned of re-launching massive protest campaign in case of defiance. A meeting of KESC Mazdoor Ittehad was held at PMA House on Wednesday w
Published 15 Oct, 2011 12:00am
LEAs demolish offices of two religious groups

LEAs demolish offices of two religious groups

Law Enforcement Agencies (LEAs) on Friday launched a crackdown against two religious organisations and demolished their two offices in Godhra. According to sources and eye-witnesses, police and Frontier Constabulary (FC) conducted joint operation on early
Published 15 Oct, 2011 12:00am
Anti dengue drive: CM Punjab lauds doctors' role

Anti dengue drive: CM Punjab lauds doctors' role

Punjab Chief Minister Shahbaz Sharif has asked the senior doctors to revive old tradition of visits of consultants and professors in hospitals in the evening. He expressed these views while presiding over a meeting regarding controlling mortality rate due
Published 15 Oct, 2011 12:00am
Issuance of 8,000 suspicious CNICs blocked in Balochistan

Issuance of 8,000 suspicious CNICs blocked in Balochistan

The issua-nce of 8,000 Computerised National Identity Cards (CNICs) has been blocked in Balochistan on spotting fake particulars and being suspicion of aliens, Interior Minister A Rehman Malik said Friday. Answering a question, he said Pakistan can not co
Published 15 Oct, 2011 12:00am
Three killed in separate incidents in Karachi

Three killed in separate incidents in Karachi

Three persons were killed in separate incidents in different areas of the metropolis here on Friday. According to police, a father of three children was shot dead near his house in Bengali Para, Sector 2, in the limits of Korangi police station. The victi
Published 15 Oct, 2011 12:00am
Education key to success of a nation: Gilani

Education key to success of a nation: Gilani

Prime Minister Syed Yusuf Raza Gilani on Friday said education was the key to the success of a nation and to help it confront the challenges it faced. Addressing a function here at the PM Secretariat to award the top students of the Federal Board of Inter
Published 15 Oct, 2011 12:00am
Gillette unveils new MACH3 razor

Gillette unveils new MACH3 razor

Gillette, the world's leading grooming brand, unveiled for the first time in Pakistan the Gillette MACH3 Sensitive Razor in a glitzy affair at Marriott Hotel in Karachi. To make this evening more special, Saad Khan, CEO Gillette Pakistan also introduced t
Published 15 Oct, 2011 12:00am
Jica, BoI ink 'Scope of Work' agreement

Jica, BoI ink 'Scope of Work' agreement

A 'Scope of Work' for strengthening investment climate in Pakistan was signed between Japan International Co-operation Agency (Jica) and Board of Investment (BoI), here on Friday. The agreement was signed by Takatoshi Nishikata, Chief Representative of Ji
Published 15 Oct, 2011 12:00am
Training workshop on 'Energy Crisis' held

Training workshop on 'Energy Crisis' held

A three day training workshop on "Energy Crisis" organised by the Department of Journalism and Mass Communication, Kohat University of Science & Information Technology (KUST) here concluded on Friday. Zaigham Khan, a journalist, anthropologist and an expe
Published 15 Oct, 2011 12:00am
PTA, FIA officials involved in grey trafficking: Senate panel says...

PTA, FIA officials involved in grey trafficking: Senate panel says...

The Senate Standing Committee on Information Technology on Friday alleged that the officials of Pakistan Telecommunication Authority (PTA) and Federal Investigation Agency (FIA) are involved in grey traffic in the country. The Senate body met here in the
Published 15 Oct, 2011 12:00am
'Instant City' tries to capture chaos of Karachi

'Instant City' tries to capture chaos of Karachi

``Instant City: Life and Death in Karachi' (The Penguin Press), by Steve Inskeep: Every few months during my stint as an Associated Press correspondent in Pakistan, the southern port city of Karachi would explode in violence. A dozen bodies here, a dozen
Published 15 Oct, 2011 12:00am
LHC seeks replies from Gulberg TMO

LHC seeks replies from Gulberg TMO

Lahore High Court (LHC) here on Friday sought replies from Gulberg TMO and Market Committee by October 19 in a writ petition of merchants of Kot Lakhpat fruit and vegetable market against government for not allowing them to run their shops. Petitioners co
Published 15 Oct, 2011 12:00am
Khyber Pakhtunkhwa governor's miraculous escape

Khyber Pakhtunkhwa governor's miraculous escape

It was a miraculous escape for the Khyber Pakhtunkhwa Governor Barrister Masood Kausar. Just a few minutes ahead of his arrival at Kalaya, headquarters of the Orakzai Agency, on Tuesday a barrage of rockets fired from a nearby mountaintop struck near the
Published 15 Oct, 2011 12:00am
Grappling with impending water scarcity

Grappling with impending water scarcity

The UN Social Commission for Asia and the Pacific has released its Statistical Yearbook for 2011, which contains a dire warning of increased water scarcity in Pakistan. It says changing weather patterns across the world have increased occurrences and inte
Published 15 Oct, 2011 12:00am
Creativity required in economics

Creativity required in economics

Why should Pakistan take dictation from the WB and the IMF? The answer is simple and it relates to having a policy initiative that is meaningless. The WB and the IMF are not related to Pakistan, but are touts of elsewhere's. The more I have taken up the I
Published 15 Oct, 2011 12:00am
European debt crisis adding to dangerous African volatility

European debt crisis adding to dangerous African volatility

Europe's debt crisis and the on-again off-again fears that a member of the eurozone will default on its obligations are adding to market volatility in Africa, which in turn is contributing to the hardships of the continent's poorest. While African stock m
Published 15 Oct, 2011 12:00am
Spanish protests resume amid concern over poverty

Spanish protests resume amid concern over poverty

A protest movement that shook Spain earlier this year is seeking new vigour, as concern grows over the spread of poverty. It is going to be a "hot autumn" filled with protests, said Odill, a spokeswoman for Youth Without Future, which forms part of the wi
Published 15 Oct, 2011 12:00am
The Karachi 'decision' or indecision?

The Karachi 'decision' or indecision?

Like the 99 percent of my compatriots, over 160 million strong Pakistanis, I am neither a jurisprudence-savvy individual, nor do I understand its related intricacies, but I do understand and recognise that it is incumbent upon every citizen to accept a co
Published 15 Oct, 2011 12:00am
'Power projects in GB to help meet energy demand'

'Power projects in GB to help meet energy demand'

Chief Minister Gilgit-Baltistan Syed Mehdi Shah has said that initiating power projects in this part of the region, would help resolve energy crisis in the country. Talking to Pakistan Television, he said that Gilgit-Baltistan (GB) is the region where var
Published 15 Oct, 2011 12:00am
Seminar on 'Clean Hands Save Lives' held

Seminar on 'Clean Hands Save Lives' held

Diarrhea claims 1,16000 under five-year children lives every year in Pakistan, a report issued by United Nations International Children Fund (UNICEF) revealed. A seminar on 'Clean Hands Save Lives' was held on Friday to create awareness among the masses a
Published 15 Oct, 2011 12:00am
Minister launches flood relief appeal on Turkish media

Minister launches flood relief appeal on Turkish media

Federal Minister for Information & Broadcasting, Dr Firdous Ashiq Awan here Thursday night launched an appeal to help the 2011 monsoon flood victims of Pakistan. The appeal was launched at Samanyolu Television of Turkey in collaboration with Turkey's lead
Published 15 Oct, 2011 12:00am
Geelani calls for shutdown in IHK on October 27

Geelani calls for shutdown in IHK on October 27

Veteran Kashmiri Hurriyet leader, Syed Ali Geelani has appealed the people of Indian Occupied Kashmir to observe complete shutdown and stage peaceful protests on 27th October. It was on this day in 1947 when India illegally occupied Jammu and Kashmir agai
Published 15 Oct, 2011 12:00am
20 percent drop in September POL consumption

20 percent drop in September POL consumption

The petroleum products' consumption in Pakistan declined by 20.2 percent on month-on-month basis during September 2011. On aggregate basis, consumption during the first quarter of FY12 increased by 6.7 percent on year-on-year basis with total petroleum pr
Published 15 Oct, 2011 12:00am
Sanitation facilities MDGs unlikely to be met!

Sanitation facilities MDGs unlikely to be met!

Pakistan is unlikely to meet MDGs regarding sanitation facilities as about 50 percent people here would be deprived of access to adequate sanitation facilities and safe drinking water by the year 2015. If this trend continues, the total number of people a
Published 15 Oct, 2011 12:00am
Flood victims of Punjab: over 1,500 UN one room shelters completed

Flood victims of Punjab: over 1,500 UN one room shelters completed

As the UN Refugee Agency (UNHCR) continues its distribution of tents and other emergency relief supplies to the flood victims in Sindh and Balochistan provinces, more than 1,500 permanent one-room shelters have been completed in Punjab for the victims of
Published 15 Oct, 2011 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold rose on Friday, on track to notch its biggest weekly gain in six weeks, as optimism about European plans to contain the region's fettering debt crisis and a dollar drop lifted bullion in a broad rally among riskier assets. Bullion pared early gains b
Published 15 Oct, 2011 12:00am
US MIDDAY: copper rallies

US MIDDAY: copper rallies

Copper rallied to its priciest level in more than two weeks on Friday, after Chinese economic data suggested Beijing's year-long fight against high inflation may be gaining the upper hand. In New York, the key December COMEX contract shot up 10.15 cents o
Published 15 Oct, 2011 12:00am
US MIDDAY: soya rises

US MIDDAY: soya rises

US soyabean futures rose to a two-week high on Friday due to tight supplies and firm cash markets, posting gains for the fifth straight day and snapping a five-week losing streak. Soya was on track to post its biggest weekly gain on a percentage basis in
Published 15 Oct, 2011 12:00am
Gold gains in biggest weekly rise since September

Gold gains in biggest weekly rise since September

Gold headed towards its strongest weekly rise in over a month on Friday, following a decline in the dollar ahead of a G20 meeting that will be dominated by the eurozone debt crisis. This week's downgrade to Spain's sovereign debt and a last-minute decisio
Published 15 Oct, 2011 12:00am
Gold rises in Asia

Gold rises in Asia

Gold was slightly higher on Friday and headed for its biggest weekly gain in more than a month, shrugging off the credit rating downgrade of Spain ahead of a G20 meeting whose agenda will be dominated by the eurozone debt crisis. Spot gold inched up 0.3 p
Published 15 Oct, 2011 12:00am
Gold falls in US

Gold falls in US

Gold fell in tandem with riskier assets on Thursday, as disappointing economic data from China and weaker US equity markets, driven by bank worries, dampened buying sentiment across the board. Optimism about a plan to tackle Europe's debilitating debt cri
Published 15 Oct, 2011 12:00am
Oil gains three percent

Oil gains three percent

Oil prices rose 3 percent on Friday, posting a second straight weekly gain, on lift from stronger-than-expected US retail sales and optimism about the prospect that European leaders can reach a deal to address the eurozone debt crisis. With Brent's front-
Published 15 Oct, 2011 12:00am
Sugar jumps

Sugar jumps

Sugar futures powered to their highest in a month on Friday and the rest of the softs complex rose on optimism that European leaders were making progress in resolving that region's debt crisis. Global stocks gained and the euro strengthened, with markets
Published 15 Oct, 2011 12:00am
Palm oil climbs

Palm oil climbs

Malaysian palm oil futures extended gains to hit a two-week high on Friday and posted a near 5 percent increase this week, as a positive export outlook and expectations of Chinese soy re-stocking, offset economic uncertainty. Benchmark December palm oil f
Published 15 Oct, 2011 12:00am
US wheat falls

US wheat falls

US wheat futures fell 1.4 percent on Thursday, adding to the 5 percent slump a day earlier, stemming from the US government raising its supply forecast for the grain. Soyabeans rallied for the fourth straight session on support from firm cash markets as w
Published 15 Oct, 2011 12:00am
Malaysia turns to South Asian rice

Malaysia turns to South Asian rice

Malaysia will source rice cargoes from India and Pakistan to meet its import needs after floods swamped farms and mills in Thailand, the world's largest exporter of the grain, the Star newspaper reported on Friday. It quoted Deputy Agriculture Minister Jo
Published 15 Oct, 2011 12:00am
Copper moves higher

Copper moves higher

Copper rallied to its highest in more than two weeks on Friday after a series of improving US and Chinese economic data triggered short-covering and investors were more optimistic that European leaders were closer to a plan on the eurozone debt crisis. Th
Published 15 Oct, 2011 12:00am
Shanghai copper up

Shanghai copper up

The most active December copper contract on the Shanghai Futures Exchange closed 2.1 percent higher at 56,010 yuan ($8,776.246) per tonne by the midday close, after falling 0.1 percent in the previous session. Copper is on track for a weekly gain of 1.6 p
Published 15 Oct, 2011 12:00am
US copper down

US copper down

Copper shed 3 percent on Thursday after softer-than-expected Chinese trade data underscored concerns the metal-consuming giant's may be unable to sustain its growth trend in a slowing global economy. In New York, the key December COMEX contract lost 8.65
Published 15 Oct, 2011 12:00am
New York cotton settles slightly higher

New York cotton settles slightly higher

Cotton futures ended with small gains on Friday on trade buying as the market finished its third week within a trading band with no sign of a breakkout next week, analysts said The key December cotton contract on ICE Futures US rose 0.38 cent to end at $1
Published 15 Oct, 2011 12:00am
550 Fatah prisoners in Shalit exchange: Egypt

550 Fatah prisoners in Shalit exchange: Egypt

Egypt has secured the release of 550 members of Palestinian president Mahmud Abbas's Fatah party in a prisoners swap it mediated between Israel and Hamas, an Egyptian diplomat said on Friday. Egypt succeeded in persuading Israel to release "550 prisoners
Published 15 Oct, 2011 12:00am
Police use tear gas on Tunis protesters

Police use tear gas on Tunis protesters

Tunisian police fired tear gas to disperse several thousand Islamists trying to force their way into the prime minister's office on Friday, the biggest in a series of clashes that are overshadowing next week's landmark election. Tunisia was the birthplace
Published 15 Oct, 2011 12:00am
Students storm Goldman Sachs building in Milan

Students storm Goldman Sachs building in Milan

A group of students stormed Goldman Sachs's central Milan offices on Friday ahead of world-wide protests against financial inequality planned for the weekend. The Italian demonstrations are the latest bout of anger at banks and financiers as outcry spread
Published 15 Oct, 2011 12:00am
Berlusconi wins confidence vote

Berlusconi wins confidence vote

Italian Prime Minister Silvio Berlusconi won a vote of confidence on Friday, giving his struggling centre-right government a new, but probably short, lease of life. Berlusconi, who said before the vote that the country would be thrown into economic and so
Published 15 Oct, 2011 12:00am
Pro-Qadhafi gunmen fight government troops in Tripoli

Pro-Qadhafi gunmen fight government troops in Tripoli

Gunfights broke out in the Libyan capital Tripoli on Friday between supporters of deposed leader Muammar Qadhafi and forces of the National Transitional Council (NTC), raising fears of an insurgency against the country's new rulers.
Published 15 Oct, 2011 12:00am
Syrian forces kill 12; toll tops 3,000

Syrian forces kill 12; toll tops 3,000

Syrian forces killed at least 12 people on Friday as they fired on rallies supporting army defectors opposed to a crackdown that the UN said has cost more than 3,000 lives. "Twelve people were killed today" and dozens wounded, Rami Abdel Rahman of the Bri
Published 15 Oct, 2011 12:00am
India offers loan to Myanmar amid tentative reforms

India offers loan to Myanmar amid tentative reforms

India promised Myanmar a $500 million credit line to improve infrastructure on Friday and praised steps towards democracy by its reclusive neighbour, which is tentatively opening up after half a century of harsh military rule. The money and warm words cam
Published 15 Oct, 2011 12:00am
Muhammad Yunus brings 'social business' to Haiti

Muhammad Yunus brings 'social business' to Haiti

Nobel peace laureate Muhammad Yunus is introducing a concept called 'social business' to Haiti as it tries to rebuild after last year's earthquake. The economist says he wants Haiti to have businesses that solve problems. The Bangladesh native is a celebr
Published 15 Oct, 2011 12:00am
Tehran denial about contacts not truthful: US

Tehran denial about contacts not truthful: US

The United States held rare direct contacts with Iran over allegations that Tehran was behind an alleged plot to kill the Saudi ambassador on US soil, the State Department said on Friday, dismissing Iranian denials that any meeting had taken place. "I wil
Published 15 Oct, 2011 12:00am
Storms leave 38 dead in Central America, Mexico

Storms leave 38 dead in Central America, Mexico

Two storm systems left at least 38 people dead and forced tens of thousands from their homes after heavy rains battered Central America and Mexico's Pacific coast, officials said Friday. Guatemala alone accounted for 21 killed, according to local authorit
Published 15 Oct, 2011 12:00am
Germany buys secret bank disc to snare tax evaders

Germany buys secret bank disc to snare tax evaders

The German government said Friday it had bought a disc containing the names of suspected tax evaders who are thought to have squirrelled away assets in Luxembourg, hidden from the taxman. "In consultation with the federal government, the state of North Rh
Published 15 Oct, 2011 12:00am
Four survivors, 28 dead in horror PNG plane crash

Four survivors, 28 dead in horror PNG plane crash

Papua New Guinean officials were Friday trying to piece together how a passenger plane crashed in dense forest, killing 28 people - but leaving four survivors - in the nation's worst air disaster. The survivors were the Australian and New Zealand pilots,
Published 15 Oct, 2011 12:00am
Petraeus tells CIA analysts to heed troops on war

Petraeus tells CIA analysts to heed troops on war

David Petraeus, the former general who led the Afghanistan war and now heads the CIA, has ordered his intelligence analysts to give greater weight to the opinions of troops in the fight, US officials said. CIA analysts now will consult with battlefield co
Published 15 Oct, 2011 12:00am
US offered Cuba swap for American

US offered Cuba swap for American

The United States offered to let a convicted Cuban spy return home in exchange for the release of an imprisoned American, but Cuba rebuffed the offer, US officials said. The US also indicated it would be willing to address other Cuban grievances after Hav
Published 15 Oct, 2011 12:00am
Dhoni inspires India to 126-run victory

Dhoni inspires India to 126-run victory

Skipper Mahendra Singh Dhoni led from the front as beleaguered India redeemed themselves with a 126-run win over England in the first One-dayer in Hyderabad on Friday. Dhoni smashed an unbeaten 87 off 70 balls to power the injury-ravaged world champions t
Published 15 Oct, 2011 12:00am
Liverpool test for United

Liverpool test for United

Manchester United head to Liverpool at the weekend for a significant test of Sir Alex Ferguson's team's improved away form. United won a record 19th league title last season - moving ahead of Liverpool's tally of 18 - despite their worst away record since
Published 15 Oct, 2011 12:00am
No Aussies fixing matches: Clarke

No Aussies fixing matches: Clarke

Australian Test and One-day captain Michael Clarke said Friday he was "100 percent confident" that no Australian cricketers were involved in match-fixing. His comments followed allegations made in a London court this week implicating Australian players du
Published 15 Oct, 2011 12:00am
Murray reaches Shanghai Masters semis

Murray reaches Shanghai Masters semis

Red hot Andy Murray cruised into the semi-finals of the Shanghai Masters on Friday, notching his 13th straight victory as David Ferrer battled back from a set down to beat Andy Roddick. Defending champion Murray, who cantered to a 6-3, 6-2 victory, looked
Published 15 Oct, 2011 12:00am
Pakistan, India to play blind cricket series

Pakistan, India to play blind cricket series

While India and Pakistan await a breakthrough in reviving main cricketing ties, they will field blind teams in a limited over series next month, a Pakistani official said Friday. "We have arranged a three Twenty20 and three one-day international match ser
Published 15 Oct, 2011 12:00am
Indian Premier League says no to Pakistan players again

Indian Premier League says no to Pakistan players again

For the third time in a row, Pakistan players have been snubbed by Indian Premier League, which means there will be no Pakistani cricketers in next season of T20 league. IPL's newly appointed chairman Rajiv Shukla, who had earlier said it would be up to t
Published 15 Oct, 2011 12:00am
Morocco to host African Olympic qualifiers

Morocco to host African Olympic qualifiers

Morocco have replaced Egypt as hosts of the eight-team African tournament which will decide representatives for next year's Olympic Games in London, the Confederation of African Football (CAF) said on Friday. Morocco will host the event from November 26 t
Published 15 Oct, 2011 12:00am
Uchimura vaults into history

Uchimura vaults into history

Japan's Kohei Uchimura won a record third straight men's all-around title at the world gymnastics championships in Tokyo Friday, prompting his nearest rival to call him an unbeatable "machine." The 22-year-old collected 93.631 points, leading the elite gr
Published 15 Oct, 2011 12:00am
New Zealand's new leadership on show in Zimbabwe

New Zealand's new leadership on show in Zimbabwe

New Zealand's new cricket leadership will be put to its first test during a tour of Zimbabwe, starting Saturday with a Twenty20 international at Harare Sports Club. The Black Caps will be led by Ross Taylor after long-serving skipper Daniel Vettori steppe
Published 15 Oct, 2011 12:00am
Euro spreads set to tighten, overnight rates fall

Euro spreads set to tighten, overnight rates fall

One measure of money market stress is expected to fall in the next few weeks after the European Central Bank provides banks with one-year cash, easing funding concerns, while overnight rates are seen stabilising at lower levels. The ECB will offer banks 1
Published 15 Oct, 2011 12:00am
Singapore dollar leads weekly Asia gains

Singapore dollar leads weekly Asia gains

The Singapore dollar was on track for its largest weekly gains in 16 months, rising on Friday after the central bank eased policy less aggressively than expected, though some investors booked profit when intervention was spotted. The Monetary Authority of
Published 15 Oct, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Friday, supported by strong domestic equities and a rise in the euro that was triggered by views that European policymakers were inching closer to a plan to tackle the region's debt crisis. The partially convertible rupee
Published 15 Oct, 2011 12:00am
Yuan soars

Yuan soars

The yuan closed up slightly against the dollar on Friday due to bank clients' dollar purchases late in the session, but traders said investors trimmed their expectations of yuan appreciation in the near term amid renewed Chinese-US tensions on the currenc
Published 15 Oct, 2011 12:00am
Euro slips versus dollar

Euro slips versus dollar

The euro slipped against the dollar on Thursday a day after hitting an almost one-month high, as investors refocused on worries about European banks and a deteriorating growth outlook for the eurozone. Disappointing trade data from China further weighed o
Published 15 Oct, 2011 12:00am
Euro gains in London

Euro gains in London

The euro gained on Friday, supported by cautious optimism European leaders are closer to agreeing a plan to tackle the eurozone debt crisis, and was on track for its biggest weekly gain since January thanks to a short-covering rally. Traders said the Euro
Published 15 Oct, 2011 12:00am
Euro dips in Asia

Euro dips in Asia

The euro dipped on Friday but hovered above an intraday low hit after S&P cut Spain's credit rating, and was on track for its biggest weekly rally since January after getting lifted by a flurry of short-covering. The euro slipped 0.1 percent to $1.3770, h
Published 15 Oct, 2011 12:00am
Sterling climbs versus dollar

Sterling climbs versus dollar

Sterling hit a one-month high versus the dollar on Friday, boosted by gains in the euro against the US currency, but weakness in the UK economy which forced the Bank of England to pursue more easing measures kept it weak against the euro. The pound rose t
Published 15 Oct, 2011 12:00am
FTSE rises to 10-week high

FTSE rises to 10-week high

Strength in commodity stocks and banks pulled Britain's leading shares higher on Friday, with the FTSE 100 index closing above 5,450 for the first time since August 3, with that level having been the top of a trading range for more than two months. The bl
Published 15 Oct, 2011 12:00am
Indian shares at four-week high

Indian shares at four-week high

Indian shares rose 1.2 percent on Friday to their highest close in nearly four weeks and logged their best weekly performance in six as gains in European markets on hopes of progress towards a solution to the eurozone's debt crisis boosted risk appetite.
Published 15 Oct, 2011 12:00am
Seoul shares extend gaining streak

Seoul shares extend gaining streak

Seoul shares reversed earlier falls to end up on Friday, extending their gaining streak to a seventh straight session, buoyed by firm gains in telecommunications issues like SK Telecom. Foreign investors were buyers of a net 37.4 billion won ($32.4 millio
Published 15 Oct, 2011 12:00am
European shares notch up a third week of gains

European shares notch up a third week of gains

European shares rose on Friday to register three straight weeks of gains, buoyed by earnings news and strong US retail sales data, with chartists seeing major resistance levels coming into view for testing next week. Cyclicals such as autos led gainers at
Published 15 Oct, 2011 12:00am
Hong Kong and Chinese shares dip on profit taking, up on week

Hong Kong and Chinese shares dip on profit taking, up on week

Hong Kong and Shanghai shares fell on Friday as investors took money off the table cashing in earlier gains in banks and property firms after China data showed annual inflation eased only a shade, reinforcing concerns about the global economy. Data releas
Published 15 Oct, 2011 12:00am
Taiwan stocks retreat

Taiwan stocks retreat

Taiwan stocks ended down 0.95 percent on Friday amid lingering concern that the euro zone crisis could hit financial companies and tech exporters. Investor sentiment turned cautious after the market staged a 3 percent rally in the four days to Thursday, b
Published 15 Oct, 2011 12:00am
Treasuries advance

Treasuries advance

US Treasury debt prices advanced on Thursday, with 30-year bonds snapping a six-session losing streak as a rally in stocks lost momentum after soft earnings from J.P. Morgan Chase & Co and concerns about Europe's plan to recapitalise its banks. Retail buy
Published 15 Oct, 2011 12:00am
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