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Archive - 2011-10-16
Local oil tanker torched in Mastung
Top News

Local oil tanker torched in Mastung

MASTUNG: Unknown armed men set ablaze an oil tanker of a private company here at Pringabad area on Sunday. According to
Published 16 Oct, 2011 01:06pm
Change is inevitable: JI
Pakistan

Change is inevitable: JI

RECORDER REPORT LAHORE: Jamaat-e-Islami chief, Syed Munawar Hasan, has said that change in the country was inevitable
Published 16 Oct, 2011 06:04am
Aptma expresses reservations on increase in power tariff

Aptma expresses reservations on increase in power tariff

Chairman, All Pakistan Textile Mills Association (APTMA), Mohsin Aziz has expressed his reservations on increase in the electricity charges announced by the Government. In a statement, he said that there was no doubt about the crisis of circular debt face
Published 16 Oct, 2011 12:00am
LHWs protest against non-payment of salaries

LHWs protest against non-payment of salaries

A large number of Lady Health Workers (LHWs) staged protest demonstration against non-payment of their four months salaries by the Punjab government at Bagh-e-Jinnah here on Saturday. The LHWs gathered at Bagh-e-Jinnah but the police cordoned off the park
Published 16 Oct, 2011 12:00am
Turkish delegation visits FAP office

Turkish delegation visits FAP office

A delegation of the Turkish International co-operation and development agency (TIKA) visited the office of the Farmers Associates Pakistan (FAP) here on Saturday to discuss the possibility of accomplishing a technically successful research for a possible
Published 16 Oct, 2011 12:00am
AJK's largest water treatment plant goes functional

AJK's largest water treatment plant goes functional

Recently established New Mirpur City achieved a major breakthrough in its rapid development after the latest Rs 900 million worth water treatment plant started functioning in the city, it was officially stated. Elaborating the salient features of the plan
Published 16 Oct, 2011 12:00am
US universities offer split degree programme to UVAS students

US universities offer split degree programme to UVAS students

Two American universities are offering split degree programme in collaboration with the University of Veterinary and Animal Sciences (UVAS) to postgraduate students to conduct their research, said UVAS Dean Faculty of Veterinary and Animal Sciences Profes
Published 16 Oct, 2011 12:00am
Two killed in coal-mine blast

Two killed in coal-mine blast

At-least two people were killed and three others sustained injuries in blast that occurred in coal-mine located in the vicinity of Chirrat area, private television channels reported on Saturday. The injured were taken to a nearby hospital for treatment.
Published 16 Oct, 2011 12:00am
Gilgit-Baltistan opposition leader becomes minister

Gilgit-Baltistan opposition leader becomes minister

Leader of opposition in Gilgit-Baltistan Legislative Assembly Bashir Ahmed has been appointed a minister, said a notification issued here on Saturday. In a simple but impressive ceremony held at Governor House, Bashir Ahmad was administered oath by Govern
Published 16 Oct, 2011 12:00am
Improving Pak-Iran economic cooperation

Improving Pak-Iran economic cooperation

It is heartening to see Pak-Iran economic relations warming up. Speaking at the Lahore Chamber of Commerce and Industry the other day, Iranian Ambassador Mashallah Shakeri said that his country would provide technical and other assistance to Pakistan to o
Published 16 Oct, 2011 12:00am
Barbarism in the name of tradition

Barbarism in the name of tradition

Not a week goes by without news of another young girl being married off to an older man as compensation for a family feud. Most recently, according to press reports, a panchayat in Vehari, Punjab, decided to give a five-year-old girl to a 40-year-old man
Published 16 Oct, 2011 12:00am
Remembering Liaquat

Remembering Liaquat

It is rather interesting that the day the Quaid-i-Azam enunciated in his famous Constituent Assembly address the fundamental doctrine of equal citizenship for one and all without any discrimination whatsoever, the same afternoon, Liaquat Ali Khan, Prime M
Published 16 Oct, 2011 12:00am
Understanding Baloch conundrum

Understanding Baloch conundrum

Killing of any human being in cold-blood is the most dastardly, heinous and condemnable act which no religion of the world and society permits or condones. Islam declares such acts as a crime against the entire humanity. Unfortunately, Balochistan has bec
Published 16 Oct, 2011 12:00am
Adventure tourists defy travel warnings on Afghanistan

Adventure tourists defy travel warnings on Afghanistan

Western adventure tourists ignore warnings against travelling to Afghanistan - sometimes, with fatal consequences. One German tourist, for instance, had been travelling for some time in Afghanistan, and his visa expired. He requested an extension in the w
Published 16 Oct, 2011 12:00am
Railways nearing demise?

Railways nearing demise?

While the Railways, as an institution, is on the verge of collapse, there is a need to dismantle the Railways Ministry and abolish the superfluous portfolio of Federal Minister in-charge of Railways. At least, the government would save huge amount of taxp
Published 16 Oct, 2011 12:00am
Libya's new government beefs up security

Libya's new government beefs up security

Libya's new government beefed up security in Tripoli on Saturday with extra roadblocks and house-to-house searches after fighting in the capital with supporters of Muammar Qadhafi raised fears of an insurgency. At most a few dozen pro-Qadhafi fighters app
Published 16 Oct, 2011 12:00am
Historic Rome square turns into battle field

Historic Rome square turns into battle field

An historic Rome square on Saturday turned into a battle field as hundreds of protesters pelted police vans with rocks and bottles and police fired tear gas and water cannon jets into the crowd. Groups of peaceful protesters could be seen huddling on the
Published 16 Oct, 2011 12:00am
Syria moves towards new constitution; three killed

Syria moves towards new constitution; three killed

Syrian President Bashar al-Assad on Saturday formed a committee to draft a new constitution within fours months, as activists reported more killings, arrests and gunfire in several cities. The official SANA news agency said Assad issued a decree establish
Published 16 Oct, 2011 12:00am
Nine killed in prison battle in Honduras

Nine killed in prison battle in Honduras

Nine inmates were killed and three wounded in fighting in a prison in Honduras, police in the Central American nation said on Friday. The violence erupted during a confrontation between rival groups using knives and guns at the penitentiary in the north-w
Published 16 Oct, 2011 12:00am
Liberian opposition parties to reject poll results

Liberian opposition parties to reject poll results

Nine Liberian opposition parties, including President Ellen Johnson-Sirleaf's two main challengers, have said they will reject the results of this week's presidential election, alleging massive fraud, an opposition official said.
Published 16 Oct, 2011 12:00am
Miscommunication caused US drone deaths

Miscommunication caused US drone deaths

US Marine and a Navy medic were killed by a US drone strike in April because Marine commanders in Afghanistan mistook them for Taliban fighters, the Los Angeles Times reported Friday. The two men were the first US military officers to be killed in a frien
Published 16 Oct, 2011 12:00am
China, Vietnam to strengthen military ties

China, Vietnam to strengthen military ties

China and Vietnam have agreed to strengthen military co-operation, increase contacts between high-ranking officers and establish a hotline for the two defence ministries, in a bid to cool tensions between the Communist-ruled neighbours.
Published 16 Oct, 2011 12:00am
Leader of Cuba's Ladies in White dies

Leader of Cuba's Ladies in White dies

Laura Pollan, who helped found the dissident group Ladies in White after her husband was jailed in a 2003 crackdown on government opponents, died on Friday in a Havana hospital at the age of 63, her family and fellow dissidents said.
Published 16 Oct, 2011 12:00am
Finland to host meeting on Middle East WMD-free zone

Finland to host meeting on Middle East WMD-free zone

Finland has agreed to host a potentially divisive international conference next year on ridding the Middle East of nuclear and other weapons of mass destruction, the United Nations said on Friday. Under-secretary of State Jaakko Laajava at the Finnish For
Published 16 Oct, 2011 12:00am
Worst floods in 50 years threaten low-lying Bangkok

Worst floods in 50 years threaten low-lying Bangkok

Rescue workers reinforced make-shift walls and sand-bags around Bangkok on Saturday as the worst floods in half-a-century threatened Thailand's low-lying capital after swamping entire provinces in the north.
Published 16 Oct, 2011 12:00am
Egypt military issues law to punish discrimination

Egypt military issues law to punish discrimination

Egypt's ruling military approved Saturday a law to punish discrimination after clashes between soldiers and Christians killed 25 people in the country's worst violence since a revolt this year. The amendment to the criminal code states a punishment of a f
Published 16 Oct, 2011 12:00am
Omanis vote for consultative council, women hope for gains

Omanis vote for consultative council, women hope for gains

Omanis voted on Saturday to choose representatives in the 84-member consultative Shura Council, an election overshadowed by discontent over unemployment and alleged government corruption. Omanis said many women turned out to cast ballots in the 105 pollin
Published 16 Oct, 2011 12:00am
Obama recruits more big cash donors for re-election

Obama recruits more big cash donors for re-election

The number of donors who raise big money for President Barack Obama jumped in the last three months as he builds a war chest for what will likely be the costliest presidential election ever. At least forty-one people have raised at least half a million do
Published 16 Oct, 2011 12:00am
Lockheed robot vehicle headed to Afghanistan

Lockheed robot vehicle headed to Afghanistan

Four new Lockheed Martin Corp unmanned ground vehicles are to be shipped next week en route to Afghanistan, the largest such units ever deployed with US forces. The remotely controlled 3,800-pound, 11-foot-long "Squad Mission Support System" is designed t
Published 16 Oct, 2011 12:00am
Medvedev denies Putin will return Russia to the past

Medvedev denies Putin will return Russia to the past

President Dmitry Medvedev on Saturday denied that Vladimir Putin's expected return to the Kremlin would throw Russia back to its past but admitted the decision disappointed some of his supporters. Lampooned by liberals as a lame duck who had failed to cha
Published 16 Oct, 2011 12:00am
IN SHORT: India likely to raise 2011-12 rice purchase price

IN SHORT: India likely to raise 2011-12 rice purchase price

India is likely to raise the price it pays to local farmers to buy rice in the new season which began this month, the food minister said on Thursday, a move that could help the government win political support but also stoke inflation.. The world's second
Published 16 Oct, 2011 12:00am
IN SHORT: Indonesia seeks to boost domestic cocoa consumption

IN SHORT: Indonesia seeks to boost domestic cocoa consumption

Indonesia plans to triple domestic cocoa consumption over the next three years to boost the local manufacturing industry, which could impact exports from the world's No 3 producer, an industry ministry official said on Wednesday.
Published 16 Oct, 2011 12:00am
IN SHORT: Brazil cane growers see 'small' 2012-13 crop

IN SHORT: Brazil cane growers see 'small' 2012-13 crop

Brazil's 2012/13 center-south cane crop will be similar to that being harvested now as bad weather over the past few months hurt crop development, the head of Brazil's main cane growers group said on Thursday.
Published 16 Oct, 2011 12:00am
Oil prices soar on expectations of resolution to eurozone crisis

Oil prices soar on expectations of resolution to eurozone crisis

World oil prices surged this week, in line with a host of other commodities, as sentiment was boosted by hopes of a swift resolution to the long-running sovereign debt crisis in the eurozone. "The oil markets gained ground this week partly due to renewed
Published 16 Oct, 2011 12:00am
Chinese cotton imports soar

Chinese cotton imports soar

China's cotton imports in September rose 26 percent from a year earlier to 252,700 tonnes, said an industry website late on Thursday, citing customs data.. Cotton imports in the first nine months of this year totalled 1.94 million tonnes, down 9.7 percent
Published 16 Oct, 2011 12:00am
Firm price boosts Brazil cotton output, exports

Firm price boosts Brazil cotton output, exports

Brazil will play a bigger role in the global cotton supply in the coming years with a dramatic surge in output and rising exports of the fiber to its top trade partner China, a sector official told Reuters.
Published 16 Oct, 2011 12:00am
World market price for upland cotton

World market price for upland cotton

The US Agriculture Department (USDA) set the prevailing world market price for upland cotton at 91.33 cents per lb, effective through October 20. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. The next
Published 16 Oct, 2011 12:00am
Ghana ups cocoa purchase price for 2011-12

Ghana ups cocoa purchase price for 2011-12

Ghana's Finance Minister said on Friday the West African nation has fixed the price it purchases cocoa from producers at 3,280 cedis ($2,024) per tonne in the 2011/2012 cocoa season compared with 3,200 cedis per tonne in the previous season.
Published 16 Oct, 2011 12:00am
Coffee trading to pick up in Asia on Vietnam harvest

Coffee trading to pick up in Asia on Vietnam harvest

Coffee trading in Asia would pick up next month when new beans from Vietnam's harvest pour in and prices stabilise, traders said on Thursday.. Roasters in Indonesia, the world's second-largest robusta producer after Vietnam, have been seeking to buy Vietn
Published 16 Oct, 2011 12:00am
Ivorian cocoa reform to impose buy quotas

Ivorian cocoa reform to impose buy quotas

Planned reforms to Ivory Coast's cocoa sector will impose quarterly quotas on exporters' purchases to prevent big players from using their dominant position to manipulate the market, according to the latest draft obtained by Reuters on Friday.. The reform
Published 16 Oct, 2011 12:00am
US gold posts biggest gain in six weeks

US gold posts biggest gain in six weeks

Gold rose on Friday, posting its biggest weekly gain in six weeks, as optimism about European plans to contain the region's debt crisis and a dollar drop lifted bullion with riskier assets in a broad rally. Bullion tracked US stocks and industrial commodi
Published 16 Oct, 2011 12:00am
Thai floods damage rice, seen delaying shipments

Thai floods damage rice, seen delaying shipments

Floods have inundated farms and some rice mills in central parts of Thailand, threatening to delay at least 300,000 tonnes of exports due for shipment mainly to Indonesia and Africa this month. Swollen rivers were hampering the movement of barges, while s
Published 16 Oct, 2011 12:00am
Asian sugar: Thai sugar premiums steady

Asian sugar: Thai sugar premiums steady

Sugar premiums held steady on Friday after a week of almost flat trade as buyers anticipated a fall in prices with the arrival of the new cane harvest from India and Thailand.. Thai high polarisation, or hipol, raw sugar was quoted at premiums of 95 and 1
Published 16 Oct, 2011 12:00am
Long dollar positions rise in latest week

Long dollar positions rise in latest week

Currency speculators increased bets on the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $14.24 billion in the week ended October 11, f
Published 16 Oct, 2011 12:00am
Eroding trust between banks lifts Euribor rates

Eroding trust between banks lifts Euribor rates

Key euro-priced bank-to-bank lending rates edged higher on Friday as increasing jitters about the health of European banks reduced their willingness to lend to each other outweighed an incoming wave of central bank liquidity support.
Published 16 Oct, 2011 12:00am
African currencies outlook

African currencies outlook

After a major rally in the last three days, Nigeria's naira may falter due to a shortage of dollars among domestic banks, while Zambia's kwacha is likely to gain slightly as foreign companies get ready to pay local taxes.
Published 16 Oct, 2011 12:00am
QE threatens sterling link with riskier assets

QE threatens sterling link with riskier assets

A second round of quantitative easing by the Bank of England could threaten sterling's robust relationship with riskier assets, limiting the gains it has traditionally made when stocks and commodities do well. Instead, the pound could trade more like the
Published 16 Oct, 2011 12:00am
Euro heads for best week since January; rally may fade

Euro heads for best week since January; rally may fade

The euro headed for its best week in nine months against the dollar on Friday on optimism that European leaders would take bold steps to tackle the debt crisis, but a lack of concrete actions could limit further gains. Group of 20 finance ministers and ce
Published 16 Oct, 2011 12:00am
Investors bullish on Singapore dollar; yuan positions unchanged

Investors bullish on Singapore dollar; yuan positions unchanged

Investors turned bullish on the Singapore dollar during the last two weeks as they covered short positions in emerging Asian currencies, held on to their positions in the Chinese yuan, a Reuters poll showed on Thursday. Currency players became slightly bu
Published 16 Oct, 2011 12:00am
Canadian dollar notches biggest weekly gain in three months

Canadian dollar notches biggest weekly gain in three months

The Canadian dollar climbed against its US counterpart on Friday and notched its biggest weekly gain in more than three months as optimism grew that Europe is on track to resolve its debt crisis and that North America might dodge a recession.
Published 16 Oct, 2011 12:00am
Wall Street racks up second week of gains

Wall Street racks up second week of gains

US stocks scored their first back-to-back weekly gains since early July on Friday, on strong Google earnings and as investors kept riding the optimism for a solution to the eurozone's debt crisis. The gains put the Dow industrials and the Nasdaq back into
Published 16 Oct, 2011 12:00am
JGB futures erase gains

JGB futures erase gains

Japanese government bonds were mostly flat on Friday, erasing earlier gains as safe-haven demand was capped by hopes that risk assets may recover in the near term as Europe showed signs of accelerating efforts to shore up its banking sector. In cash bonds
Published 16 Oct, 2011 12:00am
JGB futures erase gains

JGB futures erase gains

Japanese government bonds were mostly flat on Friday, erasing earlier gains as safe-haven demand was capped by hopes that risk assets may recover in the near term as Europe showed signs of accelerating efforts to shore up its banking sector. In cash bonds
Published 16 Oct, 2011 12:00am
Sri Lankan bourse fall

Sri Lankan bourse fall

Sri Lanka's stock market fell to a 15-week low on Friday on retail selling with turnover and volumes slumping due to low investor participation amid a liquidity crunch, while foreign investors again bought heavyweight John Keells Holdings. The island nati
Published 16 Oct, 2011 12:00am
TSX higher on day, surges 4.3 percent on week

TSX higher on day, surges 4.3 percent on week

Toronto's main stock index ended more than 1 percent higher on Friday, as hopes for a resolution to the eurozone debt crisis bolstered investor confidence and boosted commodities prices, sending the TSX to its biggest weekly gain in two years.
Published 16 Oct, 2011 12:00am
Latam stocks record best week in two years

Latam stocks record best week in two years

Latin American stocks rose on Friday to notch their biggest one-week percentage increase in more than two years on growing investor confidence that European leaders will tackle the region's debt crisis. Investors were also buoyed by expectations that soli
Published 16 Oct, 2011 12:00am
Brazil exchange sees big potential for IPOs

Brazil exchange sees big potential for IPOs

Brazilian stock exchange operator BM&FBovespa expects a robust pipeline of new listings once market conditions settle down, its chief executive said on Thursday. The world's fourth-largest exchange operator has had about 40 companies put aside plans to ma
Published 16 Oct, 2011 12:00am
Turkish lira weakens, shares up

Turkish lira weakens, shares up

The Turkish lira fell nearly 2 percent against the euro/dollar basket on Friday with the central bank withholding forex-selling auctions for a second consecutive day, while bond yields were pushed up on concerns of rising inflation. The currency had stren
Published 16 Oct, 2011 12:00am
Treasury's 30-year yields post best weekly gain in a year

Treasury's 30-year yields post best weekly gain in a year

Treasury prices fell on Friday, with 30-year yields posting their largest weekly gain in a year, as stronger-than-expected US retail sales lifted stocks and diminished the safe-haven allure of US government debt. Benchmark 10-year note yields, meanwhile,
Published 16 Oct, 2011 12:00am
Treasury's 30-year yields post best weekly gain in a year

Treasury's 30-year yields post best weekly gain in a year

Treasury prices fell on Friday, with 30-year yields posting their largest weekly gain in a year, as stronger-than-expected US retail sales lifted stocks and diminished the safe-haven allure of US government debt. Benchmark 10-year note yields, meanwhile,
Published 16 Oct, 2011 12:00am
Indian bond yields up

Indian bond yields up

India's benchmark bond yields rose on Friday as September inflation remained above 9 percent, signalling more rate rises ahead, but came off the day's high after the cut-off at a federal auction lagged expectations, with two sales devolving. The 10-year b
Published 16 Oct, 2011 12:00am
Indian bond yields up

Indian bond yields up

India's benchmark bond yields rose on Friday as September inflation remained above 9 percent, signalling more rate rises ahead, but came off the day's high after the cut-off at a federal auction lagged expectations, with two sales devolving. The 10-year b
Published 16 Oct, 2011 12:00am
US IPO market back after two-month hiatus

US IPO market back after two-month hiatus

The US IPO market may be recovering, but with small deals rather than big, well-known companies such as Zynga. This week's initial public offering of wireless equipment maker Ubiquiti Networks Inc broke a 2-month drought in the US IPO market, suggesting t
Published 16 Oct, 2011 12:00am
Nasdaq eyes opportunities in rivals' $9 billion merger

Nasdaq eyes opportunities in rivals' $9 billion merger

Deutsche Boerse's planned $9 billion acquisition of NYSE Euronext could create opportunities for rivals, especially if the two are slow to integrate, the vice chairman of Nasdaq OMX Group said on Thursday. Meyer "Sandy" Frucher also told Reuters in an int
Published 16 Oct, 2011 12:00am
Goldman, Citi among banks on list for Hyundai Oilbank's $2 billion IPO

Goldman, Citi among banks on list for Hyundai Oilbank's $2 billion IPO

Hyundai Oilbank, South Korea's smallest crude oil refiner, has narrowed down a group of banks to handle its up to $2 billion IPO planned for early next year, with Goldman Sachs, Credit Suisse, and Citigroup among the firms selected, sources with direct kn
Published 16 Oct, 2011 12:00am
Goldman, Citi among banks on list for Hyundai Oilbank's $2 billion IPO

Goldman, Citi among banks on list for Hyundai Oilbank's $2 billion IPO

Hyundai Oilbank, South Korea's smallest crude oil refiner, has narrowed down a group of banks to handle its up to $2 billion IPO planned for early next year, with Goldman Sachs, Credit Suisse, and Citigroup among the firms selected, sources with direct kn
Published 16 Oct, 2011 12:00am
Afghan parliament passes key hurdle to release aid funds

Afghan parliament passes key hurdle to release aid funds

The Afghan parliament, in a critical step for the release of blocked foreign aid funds, agreed on Saturday to start repaying the central bank for its bailout of Kabulbank, with a first instalment of $51 million. Only two lawmakers voted against the bill,
Published 16 Oct, 2011 12:00am
US man jailed for stealing $400 million in Ponzi scheme

US man jailed for stealing $400 million in Ponzi scheme

A US federal court on Friday sentenced a New York-based man to 25 years in prison after he admitted stealing more than $195 million from thousands of investors in a $400 million Ponzi scheme. Nicholas Cosmo - who ran two New York investment companies, Aga
Published 16 Oct, 2011 12:00am
Reliance second quarter profit up 16 percent

Reliance second quarter profit up 16 percent

Energy major Reliance Industries Ltd, India's most valuable company, posted a 15.8 percent rise in quarterly net profit on Saturday on the back of strong refining margins, in line with expectations. The company, controlled by Mukesh Ambani, the world's ni
Published 16 Oct, 2011 12:00am
Reliance second quarter profit up 16 percent

Reliance second quarter profit up 16 percent

Energy major Reliance Industries Ltd, India's most valuable company, posted a 15.8 percent rise in quarterly net profit on Saturday on the back of strong refining margins, in line with expectations. The company, controlled by Mukesh Ambani, the world's ni
Published 16 Oct, 2011 12:00am
Abu Dhabi's inflation slows to one percent

Abu Dhabi's inflation slows to one percent

Abu Dhabi's annual inflation rate slowed to 1.0 percent in September as housing and transport prices in the Gulf emirate edged lower, data showed on Saturday. Inflation had been edging higher over the past year in the emirate, which accounts for roughly 6
Published 16 Oct, 2011 12:00am
Thousands protest outside ECB headquarters

Thousands protest outside ECB headquarters

Thousands of people demonstrated Saturday outside the European Central Bank's Frankfurt headquarters on the first day of a world-wide protest against income disparity and corporate greed. Organisers estimated a turnout of nearly 6,000, while police said 5
Published 16 Oct, 2011 12:00am
Samba, Riyadh bank post strong third quarter profits

Samba, Riyadh bank post strong third quarter profits

Saudi's Riyadh Bank beat analysts' expectations after it posted a 30 percent rise in its third quarter net profits, while Samba Financial Group posted a 2.9 percent rise, in line with expectations, bourse statements said on Saturday. Riyad Bank made 794 m
Published 16 Oct, 2011 12:00am
Samba, Riyadh bank post strong third quarter profits

Samba, Riyadh bank post strong third quarter profits

Saudi's Riyadh Bank beat analysts' expectations after it posted a 30 percent rise in its third quarter net profits, while Samba Financial Group posted a 2.9 percent rise, in line with expectations, bourse statements said on Saturday. Riyad Bank made 794 m
Published 16 Oct, 2011 12:00am
Hochtief plans multi-million Canada, India takeovers

Hochtief plans multi-million Canada, India takeovers

The biggest German construction group, Hochtief, plans to make acquisitions in Canada and India totalling hundreds of millions of euros, boss Frank Stieler said in an interview published Saturday. Stieler told the weekly Wirtschaftswoche that the company
Published 16 Oct, 2011 12:00am
Brazil's watchdog opens interest futures probe

Brazil's watchdog opens interest futures probe

Brazil's securities regulator has opened a probe into unusual trading patterns in the interest rate futures market just before a surprise central bank rate cut in August, local media reported on Saturday. Brazil's market watchdog known as the CVM is focus
Published 16 Oct, 2011 12:00am
Obama seeks to put onus on Republicans on jobs

Obama seeks to put onus on Republicans on jobs

US President Barack Obama urged Republicans on Saturday to stop picking "ideological fights" and focus instead on job creation efforts as he pressed Congress to begin voting next week piece by piece on his defeated jobs package. With an eye to the 2012 el
Published 16 Oct, 2011 12:00am
Wen pledges stable yuan to exporters

Wen pledges stable yuan to exporters

Chinese Premier Wen Jiabao said China's exchange rate would remain stable to protect exporters, the official Xinhua news agency reported. Wen said on Saturday "a basically stable exchange rate" would help maintain a steady level of exports and enhance bus
Published 16 Oct, 2011 12:00am
Regulators close four small US banks

Regulators close four small US banks

Regulators closed three small banks on Friday, said the Federal Deposit Insurance Corp, bringing the total number of bank failures in the United States this year to 80. Most of the banks that have failed so far this year have had less than $1 billion in a
Published 16 Oct, 2011 12:00am
PSI makes Europe look a risky investment: ECB's Stark

PSI makes Europe look a risky investment: ECB's Stark

Changing the terms of investors' bonds in the eurozone makes the bloc look like a risky investment proposition, European Central Bank policymaker Juergen Stark said in a newspaper interview published on Saturday. Stark made the comments as eurozone offici
Published 16 Oct, 2011 12:00am
PSI makes Europe look a risky investment: ECB's Stark

PSI makes Europe look a risky investment: ECB's Stark

Changing the terms of investors' bonds in the eurozone makes the bloc look like a risky investment proposition, European Central Bank policymaker Juergen Stark said in a newspaper interview published on Saturday. Stark made the comments as eurozone offici
Published 16 Oct, 2011 12:00am
Greece could use property as bond collateral

Greece could use property as bond collateral

Greece could use state-owned real estate assets as collateral for new bonds to raise more than 100 billion euros ($138.7 billion), under a proposal put forward by a leading Greek think-tank and a former conservative minister.
Published 16 Oct, 2011 12:00am
Greece could use property as bond collateral

Greece could use property as bond collateral

Greece could use state-owned real estate assets as collateral for new bonds to raise more than 100 billion euros ($138.7 billion), under a proposal put forward by a leading Greek think-tank and a former conservative minister.
Published 16 Oct, 2011 12:00am
Mohsin, Misbah hopeful of victory against Sri Lanka: team leaves for UAE

Mohsin, Misbah hopeful of victory against Sri Lanka: team leaves for UAE

Led by Misbah-ul-Haq, Pakistan cricket team on Saturday left here for UAE to play a cricket series against Sri Lanka starting from October 18 with a 3-match Test series at the Sheikh Zayed International Cricket Stadium. Talking to mediamen at Allama Iqbal
Published 16 Oct, 2011 12:00am
China to play hockey series in Pakistan

China to play hockey series in Pakistan

International hockey will be revived here in December when Chinese hockey team will arrive here on December 19 to play four match test series against Pakistan. "It will be a great boost and revival of international sports in Pakistan with Chinese hockey t
Published 16 Oct, 2011 12:00am
Murray to face Ferrer in Shanghai final

Murray to face Ferrer in Shanghai final

Andy Murray pummelled Japan's Kei Nishikori 6-3 6-0 to reach the final of the Shanghai Masters on Saturday and will complete a stunning Asian hat-trick if he beats David Ferrer on Sunday. Nishikori, playing in his first Masters Series semi-final, lacked t
Published 16 Oct, 2011 12:00am
Man City take top spot

Man City take top spot

Manchester City went top of the Premier League when they beat Aston Villa 4-1 at the Etihad Stadium on Saturday after Manchester United dropped two points in a 1-1 draw at Liverpool. City won with goals from Mario Balotelli, Adam Johnson, Vincent Kompany
Published 16 Oct, 2011 12:00am
McCullum leads New Zealand to 10-wicket triumph

McCullum leads New Zealand to 10-wicket triumph

Brendon McCullum slammed an unbeaten 81 as New Zealand raced to a 10-wicket win in the first Twenty20 international against Zimbabwe at Harare Sports Club on Saturday. The New Zealand bowlers set up the victory by restricting Zimbabwe to 123 for eight in
Published 16 Oct, 2011 12:00am
Vietnam win first world medal

Vietnam win first world medal

Phan Thi Ha Thanh won Vietnam's first world-class gymnastics medal as she finished third in the women's vault at the world championships in Tokyo Saturday on the eve of her 20th birthday. "I feel really, really happy. Of course, every gymnast wants to win
Published 16 Oct, 2011 12:00am
Top South African official ousted again

Top South African official ousted again

Cricket South Africa (CSA) president Mtutuzeli Nyoka was ousted for the second time in eight months when the board of directors passed a vote of no confidence at a special general meeting Saturday. The decision, which a statement said was by an overwhelmi
Published 16 Oct, 2011 12:00am
Samuels, Simmons star in West Indies series win

Samuels, Simmons star in West Indies series win

Marlon Samuels and Lendl Simmons cracked half-centuries to help the West Indies clinch the One-day series with an easy eight-wicket win over Bangladesh in the second match on Saturday. Samuels scored a brisk 88 not out and opener Simmons an impressive 80
Published 16 Oct, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 128,733 tonnes of cargo comprising 101,207 tonnes of import cargo and 27,526 tonnes of export cargo including 5,795 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday.
Published 16 Oct, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose 0.5 percent on Friday on a mix of technical buying, exporter pricing and fund short-covering, traders said. Canola ended the week up 3.5 percent, its biggest weekly rise since May, breaking a streak of five straight weekly
Published 16 Oct, 2011 12:00am
Rains boost Argentine 2011-12 wheat outlook

Rains boost Argentine 2011-12 wheat outlook

Heavy rain in Argentina this week helped improve most of the 2011/12 wheat crop, which was badly hurt by dryness last month, the Agriculture Ministry said on Friday. The rain, however, came too late to avert yield losses in some wheat areas, the ministry
Published 16 Oct, 2011 12:00am
Corn export premiums steady

Corn export premiums steady

Corn export premiums at the US Gulf Coast were mostly steady on Friday amid slow farmer selling and hopes for further purchases by China after large sales to the country this week, traders said. A steep drop in corn prices from late August peaks has attra
Published 16 Oct, 2011 12:00am
US wheat futures rise; soya rally hits two-week high

US wheat futures rise; soya rally hits two-week high

Chicago wheat futures rose on Friday amid hopes for a resolution of the euro-zone debt crisis but remained under pressure from US government forecasts of higher global and US supply, which sparked heavy losses earlier this week. Soyabean futures rose for
Published 16 Oct, 2011 12:00am
Cocoa powder prices ease in Asia

Cocoa powder prices ease in Asia

Cocoa powder prices eased in Asia on Friday, weighed down by the uncertain economic and demand outlook for Europe and the United States, with expectations of rising output from West African producers also weakening prices, dealers said. "Cocoa powder is g
Published 16 Oct, 2011 12:00am
Miners offer cheaper iron ore prices for China's steel makers

Miners offer cheaper iron ore prices for China's steel makers

Iron ore miners have given steel mills in top importer China the option to buy the raw material cheaper for fourth-quarter contracts, sources at mills said on Friday, following a fall in spot rates to 11-month lows. Quarterly contracts are usually based o
Published 16 Oct, 2011 12:00am
Ukraine's October grain exports fall

Ukraine's October grain exports fall

Ukraine's grain exports totalled 400,000 tonnes in the first 13 days of October or just a half of the export volume in the same period in September, the Ukrainian Agrarian Confederation said on Friday. Ukraine's parliament last week cancelled export dutie
Published 16 Oct, 2011 12:00am
Mills' buying pushes prices up on cotton market

Mills' buying pushes prices up on cotton market

Upward trend in the NY cotton futures, haunting the mills to continue cotton purchasing to keep themselves safe from future losses, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,250, they said. Prices of seedc
Published 16 Oct, 2011 12:00am
Oil cake market rates

Oil cake market rates

December contract was up while the January vaida was unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The December contract that had ended at Rs 1311.30 commenced with a gain of 10 paisa in early session
Published 16 Oct, 2011 12:00am
Wheat prices up; other items ease on grain market

Wheat prices up; other items ease on grain market

Wheat prices were higher on the wholesale grain market on Saturday in process of trading while some items turned softer depicting two way price movement, dealers said. On the cereal side wheat old and new Bardan gained Rs 15 to Rs 2625 and 2640, gur low t
Published 16 Oct, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids were steady on Friday ass good demand kept basis firm Country sellers held tight to supplies and bids and offers demonstrated a wide margin. "We've tried to buy some more wheat," an Oklahoma merchandiser said. "A lot of pe
Published 16 Oct, 2011 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
THE RUPEE: mixed pattern seen

THE RUPEE: mixed pattern seen

The rupee moved both ways on the currency market on Saturday in process of trading, dealers said. The rupee gained 30 paisa in terms of dollar for buying and selling at 86.80 and 87.30, they added. The rupee, however, lost 83 paisa against euro for buying
Published 16 Oct, 2011 12:00am
THE RUPEE: mixed pattern seen

THE RUPEE: mixed pattern seen

The rupee moved both ways on the currency market on Saturday in process of trading, dealers said. The rupee gained 30 paisa in terms of dollar for buying and selling at 86.80 and 87.30, they added. The rupee, however, lost 83 paisa against euro for buying
Published 16 Oct, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (October 15, 2011) and for Sunday (October 16, 2011).
Published 16 Oct, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (October 15, 2011).

Published 16 Oct, 2011 12:00am
The Weather

The Weather

The weather report on Saturday (October 15, 2011) and the forecast for Sunday (October 16, 2011).

Published 16 Oct, 2011 12:00am
Your rupee last quarter

Your rupee last quarter

Following currency fluctuations took place in foreign exchange rates during the last quarter. (July 02 to September 30, 2011)

Published 16 Oct, 2011 12:00am
Yeddyurappa arrested over graft

Yeddyurappa arrested over graft

A powerful former leader of a southern Indian state was arrested on Saturday on accusations of taking kickbacks in exchange for illegally selling government land. The former chief minister of Karnataka, B.S. Yeddyurappa, surrendered to authorities in stat
Published 16 Oct, 2011 12:00am
Yeddyurappa arrested over graft

Yeddyurappa arrested over graft

A powerful former leader of a southern Indian state was arrested on Saturday on accusations of taking kickbacks in exchange for illegally selling government land. The former chief minister of Karnataka, B.S. Yeddyurappa, surrendered to authorities in stat
Published 16 Oct, 2011 12:00am
Wall Street protests go global

Wall Street protests go global

Demonstrators rallied on Saturday across the world to accuse bankers and politicians of wrecking economies, but only in Rome did the global "day of rage" erupt into violence. Galvanised by the Occupy Wall Street movement, the protests began in New Zealand
Published 16 Oct, 2011 12:00am
Wall Street protests go global

Wall Street protests go global

Demonstrators rallied on Saturday across the world to accuse bankers and politicians of wrecking economies, but only in Rome did the global "day of rage" erupt into violence. Galvanised by the Occupy Wall Street movement, the protests began in New Zealand
Published 16 Oct, 2011 12:00am
Wall Street protests go global

Wall Street protests go global

Demonstrators rallied on Saturday across the world to accuse bankers and politicians of wrecking economies, but only in Rome did the global "day of rage" erupt into violence. Galvanised by the Occupy Wall Street movement, the protests began in New Zealand
Published 16 Oct, 2011 12:00am
G20 tells eurozone to fix debt crisis within weeks

G20 tells eurozone to fix debt crisis within weeks

The world's leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs' meeting. The make or break moment in the two-year-old crisis
Published 16 Oct, 2011 12:00am
G20 tells eurozone to fix debt crisis within weeks

G20 tells eurozone to fix debt crisis within weeks

The world's leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs' meeting. The make or break moment in the two-year-old crisis
Published 16 Oct, 2011 12:00am
G20 tells eurozone to fix debt crisis within weeks

G20 tells eurozone to fix debt crisis within weeks

The world''s leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs'' meeting. The make or break moment in the two-year-old cris
Published 16 Oct, 2011 12:00am
Retaining FED on services: FBR creates major distortion in system

Retaining FED on services: FBR creates major distortion in system

The Federal Board of Revenue (FBR) has created a major distortion in the federal taxation system by retaining federal excise duty (FED) on services, resulting in double taxation on service providers operating in Sindh. Tax experts told Business Recorde
Published 16 Oct, 2011 12:00am
Retaining FED on services: FBR creates major distortion in system

Retaining FED on services: FBR creates major distortion in system

The Federal Board of Revenue (FBR) has created a major distortion in the federal taxation system by retaining federal excise duty (FED) on services, resulting in double taxation on service providers operating in Sindh. Tax experts told Business Recorde
Published 16 Oct, 2011 12:00am
Retaining FED on services: FBR creates major distortion in system

Retaining FED on services: FBR creates major distortion in system

The Federal Board of Revenue (FBR) has created a major distortion in the federal taxation system by retaining federal excise duty (FED) on services, resulting in double taxation on service providers operating in Sindh. Tax experts told Business Recorde
Published 16 Oct, 2011 12:00am
MoF sitting tight over outstanding Rs 10 billion DLTL fund

MoF sitting tight over outstanding Rs 10 billion DLTL fund

The Ministry of Finance is sitting tight over the whopping Rs 10 billion outstanding Drawback of Local Levies and Taxes (DLTL) to exporters of textile goods. The issue was raised at the meeting on 'Textile Policy, Textile Law, Technical Up-gradation Fund
Published 16 Oct, 2011 12:00am
MoF sitting tight over outstanding Rs 10 billion DLTL fund

MoF sitting tight over outstanding Rs 10 billion DLTL fund

The Ministry of Finance is sitting tight over the whopping Rs 10 billion outstanding Drawback of Local Levies and Taxes (DLTL) to exporters of textile goods. The issue was raised at the meeting on 'Textile Policy, Textile Law, Technical Up-gradation Fund
Published 16 Oct, 2011 12:00am
MoF sitting tight over outstanding Rs 10 billion DLTL fund

MoF sitting tight over outstanding Rs 10 billion DLTL fund

The Ministry of Finance is sitting tight over the whopping Rs 10 billion outstanding Drawback of Local Levies and Taxes (DLTL) to exporters of textile goods. The issue was raised at the meeting on ''Textile Policy, Textile Law, Technical Up-gradation Fund
Published 16 Oct, 2011 12:00am
MoF sitting tight over outstanding Rs 10 billion DLTL fund

MoF sitting tight over outstanding Rs 10 billion DLTL fund

The Ministry of Finance is sitting tight over the whopping Rs 10 billion outstanding Drawback of Local Levies and Taxes (DLTL) to exporters of textile goods. The issue was raised at the meeting on ''''Textile Policy, Textile Law, Technical Up-gradation Fu
Published 16 Oct, 2011 12:00am
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