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Archive - 2011-10-28
Army to quit US alliance: Imran Khan
Top News

Army to quit US alliance: Imran Khan

ISLAMABAD: Chairman of Pakistan Tehreek-i-Insaf (PTI) Imran Khan called upon the Pakistan army to end its cooperation in
Published 28 Oct, 2011 04:47pm
Ukraine record grain harvest
Top News

Ukraine record grain harvest

KIEV: Ukraine's Farm Ministry on Friday raised its forecast for the 2011 harvest to 54 million tonnes from the previous
Published 28 Oct, 2011 04:41pm
Foreign trade to touch $3trn: China
Top News

Foreign trade to touch $3trn: China

BEIJING : A senior Chinese official said on Friday the country's foreign trade volume will surpass 3 trillion US dollars
Published 28 Oct, 2011 03:19pm
NBP launches EzRemit payments
Top News

NBP launches EzRemit payments

KARACHI: National Bank of Pakistan (NBP) has recently launched "EzRemit payments" at its branches countrywide for instan
Published 28 Oct, 2011 02:54pm
Cameron firm on eurozone approach
Top News

Cameron firm on eurozone approach

PERTH: British Prime Minister David Cameron on Friday stressed the importance of safeguarding the European single market
Published 28 Oct, 2011 02:21pm
Weekly inflation increases
Top News

Weekly inflation increases

ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on October 27 for the lowest income group up to Rs.8,
Published 28 Oct, 2011 11:34am
Suicide bomber kills two police officer
Top News

Suicide bomber kills two police officer

PESHAWAR: A suicide attack targeted a police officer in northwest on Friday, killing him and his driver on the outskirts
Published 28 Oct, 2011 08:47am
Stocks stay depressed
Markets

Stocks stay depressed

RECORDER REPORT KARACHI: A bearish trend continued on the Karachi share market on Thursday and the KSE-100 index lost
Published 28 Oct, 2011 07:01am
SBP to buy govt paper
Top News

SBP to buy govt paper

KARACHI: State Bank of Pakistan (SBP) said it will buy back government paper from commercial banks on Friday in seven-da
Published 28 Oct, 2011 06:20am
Baghdad blasts toll rises to 32 dead
Top News

Baghdad blasts toll rises to 32 dead

BAGHDAD: At least 32 people were killed and 71 wounded in twin blasts which rocked Baghdad, security officials said on F
Published 28 Oct, 2011 04:28am
OGDC shows its muscles
BR Research

OGDC shows its muscles

The countrys largest E&P Company, the Oil and Gas Development Company (OGDC) surprised many with its 1QFY12 financial results. The massive 3
Published 28 Oct, 2011 12:00am
NBP goes against the grain
BR Research

NBP goes against the grain

National Bank of Pakistan (NBP), one of the largest commercial banks in the country, failed to excite the market on Thursday, reporting a st
Published 28 Oct, 2011 12:00am
Seven Billion now!
BR Research

Seven Billion now!

The United Nations has projected that the worlds population will reach seven billion, before the end of this month. The US Census Bureau has
Published 28 Oct, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper rose 2.6 percent on Thursday after eurozone leaders agreed to boost the region's rescue fund and on optimism that top consumer China may move towards looser monetary policy. The most-active January copper contract on the Shanghai Futures Exchange r
Published 28 Oct, 2011 12:00am
US copper climbs

US copper climbs

Copper rallied as much as 5 percent to a fresh one-month high Wednesday, as investors began to price in the possibility of looser monetary policy in China and stepped up purchases as supply shocks escalated at the world's No 2 mine. In New York, the key D
Published 28 Oct, 2011 12:00am
New York cotton at six-week high

New York cotton at six-week high

Cotton futures ended on Thursday up by the daily 4.00 cent limit at a six-week high as the market rose for the fifth straight session, sparked mainly by news European leaders have forged a deal to resolve the debt crisis, analysts said. The market was als
Published 28 Oct, 2011 12:00am
Cylinder blast hurts one

Cylinder blast hurts one

One person was injured in a gas cylinder blast in Haji camp on GT road here on Thursday, police said. The cylinder blasted in a local hotel with a big bang, wounding Hakimullah Khan. The building and valuables worth thousands of rupees were damaged and bu
Published 28 Oct, 2011 12:00am
IMF, World Bank: ways of doing business undergoing a sea change

IMF, World Bank: ways of doing business undergoing a sea change

The International Monetary Fund (IMF) and the World Bank are undergoing a sea change in the way they do business, was the outcome of a town hall meeting in Washington between the newly appointed Managing Director of IMF, Christine Lagarde, World Bank Pres
Published 28 Oct, 2011 12:00am
Four more die of dengue

Four more die of dengue

Four more deaths were reported due to dengue during the last 24 hours raising the death toll to 285 in Punjab and 250 in Lahore. Director General Health Punjab Dr Muhammad Aslam Chaudhry at media briefing regarding dengue at the committee room of King Edw
Published 28 Oct, 2011 12:00am
Seminar

Seminar

Chairman Dengue Control Committee Nishter Town, Naseer Bhutta MNA, has said students can inform society about precautionary measures against the dengue virus in a better way. He expressed these views while addressing an awareness seminar held at CDGL Girl
Published 28 Oct, 2011 12:00am
SNGPL, SSGC: Ogra seeks written explanation on complaint

SNGPL, SSGC: Ogra seeks written explanation on complaint

The Oil and Gas Regulatory Authority (Ogra) has sought a written explanation from Sui-Northern Gas Pipelines Limited (SNGPL) and Sui-Southern Gas Company Limited (SSGC) on a complaint filed by All Pakistan CNG Association (APCNGA), well placed sources in
Published 28 Oct, 2011 12:00am
IP gas line project: there's no pressure on Pakistan, Senate told

IP gas line project: there's no pressure on Pakistan, Senate told

The Upper House of Parliament was informed on Thursday that there was no pressure on Pakistan regarding Iran-Pakistan (IP) gas pipeline project and it would be completed by 2013, one year ahead of schedule. Dr Asim Hussain, Minister for Petroleum and Natu
Published 28 Oct, 2011 12:00am
PSO, Warid sign agreement

PSO, Warid sign agreement

Pakistan State Oil (PSO) and Warid Telecom signed a complete fuel-management agreement through which Warid would procure POL products for its fleet vehicles and cell-sites through PS0 Cards nation-wide. Photo shows (front row). Chaudhry Muhammad Irfan (Ch
Published 28 Oct, 2011 12:00am
PESCO saves Rs 425 million in purchase of transformers

PESCO saves Rs 425 million in purchase of transformers

Peshawar Electricity Supply Company (PESCO) has saved an amount of Rs 425 million through international bidding for purchase of transformer and breaking the cartel of transformer manufactures. This was told in the meeting of the Board of Directors (BoD) h
Published 28 Oct, 2011 12:00am
Anti-littering drive in Islamabad brings positive results

Anti-littering drive in Islamabad brings positive results

The ongoing anti-littering drive in the Federal Capital has brought positive results; however, sanitation directorate would be equipped with necessary machinery to meet the target as per cleanliness standards. This was stated by Chairman Capital Developme
Published 28 Oct, 2011 12:00am
Ufone promotes environmentally sustainable initiatives

Ufone promotes environmentally sustainable initiatives

Taking a step forward to promote environmentally sustainable initiatives, Ufone in collaboration with AIESEC successfully carried out an internationally acclaimed project in Pakistan. The project named 'My World My Choice' has been successfully running un
Published 28 Oct, 2011 12:00am
Fresh western disturbance expected: Met office

Fresh western disturbance expected: Met office

Temperature in Skardu went down to minus one degree centigrade, but mercury in Turbat shot up to 38 degree centigrade in the last 24 hours, the Met Office said on Thursday. The forecaster says a fresh western disturbance is expected to affect the northern
Published 28 Oct, 2011 12:00am
Husband booked in Dr Najia murder

Husband booked in Dr Najia murder

The death of lady doctor Najia Hussain, which was earlier declared as suicide, has now stated as murder and the airport police have booked her husband Dr Ghulam Murtaza in the case. According to SHO Noor Mohammad Wasan, the case seemed to be suicide as he
Published 28 Oct, 2011 12:00am
NBP receives Rs 274 million from Railways

NBP receives Rs 274 million from Railways

National Bank of Pakistan on Thursday received Rs 274 million from Pakistan Railways after which disbursement of pension to PR pensioners in Lahore continued smoothly. On Wednesday, NBP staff worked continuously for 16 hours and ensured that each and ever
Published 28 Oct, 2011 12:00am
Exchange of Rs 500-note denomination: SBP urged to extend dateline

Exchange of Rs 500-note denomination: SBP urged to extend dateline

Chairman Senate Dr Farooq H Naik on Thursday asked State Bank of Pakistan (SBP) to extend dateline for exchange of Rs 500-note denomination and present resolution of Central Bank Board in this regard to the House by November 3. He said that all Rs 500-not
Published 28 Oct, 2011 12:00am
Suicide jacket recovered from Essa Nagri graveyard

Suicide jacket recovered from Essa Nagri graveyard

The frequent recovery of explosive devices during last couple of days is raising the apprehension of any possible terrorist attack in the city, as a suicide jacket was found in the limits of PIB police station on Thursday. According to police sources, the
Published 28 Oct, 2011 12:00am
Flood victims in Sindh: Aptma dispatches food items worth Rs 4.2 million

Flood victims in Sindh: Aptma dispatches food items worth Rs 4.2 million

All Pakistan Textile Mills Association (Aptma) on Thursday dispatched 10 trucks loaded with food items worth Rs 4.2 million for flood-hit people of Sindh. Governor Khyber Pakhtunkhwa Barrister Masood Kausar was the chief guest. Chairman Aptma Mohsin Aziz,
Published 28 Oct, 2011 12:00am
SECP recommendations approved by IOSCO's body

SECP recommendations approved by IOSCO's body

SECP recommendations through its report on 'Regulation of Nominee Accounts in Emerging Markets', were approved by the International Organisation of Securities' Commissions (IOSCO)'s Emerging Markets Committee (EMC) at the EMC Annual Conference in the Domi
Published 28 Oct, 2011 12:00am
Ratio analysis

Ratio analysis

Ratio analysis is the basic tool used in financial analysis of a company and in the strategic planning process for any business. It helps managers, lenders and investors in making policy and investment decisions. Financial ratios are calculated by using i
Published 28 Oct, 2011 12:00am
Ratio analysis

Ratio analysis

Ratio analysis is the basic tool used in financial analysis of a company and in the strategic planning process for any business. It helps managers, lenders and investors in making policy and investment decisions. Financial ratios are calculated by using i
Published 28 Oct, 2011 12:00am
IHC moved against FPSC decision

IHC moved against FPSC decision

An application was filed on Thursday in Islamabad High Court challenging Federal Public Service Commission (FPSC) decision to drop name of a candidate, who passed competitive examination, citing technical grounds. The applicant, Saima Ambreen has filed ap
Published 28 Oct, 2011 12:00am
Date of filing tax return extended

Date of filing tax return extended

The Federal Board of Revenue (FBR) has extended date for filing of returns of total income/statements of final taxation upto November 21, 2011. In exercise of the powers conferred under section 214A of the Income Tax Ordinance, 2001, FBR is pleased to ext
Published 28 Oct, 2011 12:00am
Voting on 'Carriage by Air Bill, 2011' in Senate deferred

Voting on 'Carriage by Air Bill, 2011' in Senate deferred

The Senate on Thursday deferred voting on 'The Carriage by Air Bill, 2011' till today (Friday) on the request of Jamaat-e-Islami Senator Professor Khurshid Ahmed. Federal Minister for Defence Chaudhry Ahmed Mukhtar moved the Bill in the House for passage
Published 28 Oct, 2011 12:00am
Quran Khwani for Nusrat Bhutto

Quran Khwani for Nusrat Bhutto

The Khyber Pakthunkhwa Women Chapter on Thursday organised Qurankhwani for the departed soul of Mother of Democracy, Begum Nusrat Bhutto and praised her political struggle against dictatorship. The Qurankhwani was held at Governor House, Peshawar where wo
Published 28 Oct, 2011 12:00am
E&P sector profit up by 33 percent

E&P sector profit up by 33 percent

The profit after tax of the listed exploration and production (E&P) sector has significantly increased by 33 percent to Rs 36.0 billion in the first quarter of FY12 as compared to Rs 27.1 billion in the same period last year. "Improved sector's topline, s
Published 28 Oct, 2011 12:00am
E&P sector profit up by 33 percent

E&P sector profit up by 33 percent

The profit after tax of the listed exploration and production (E&P) sector has significantly increased by 33 percent to Rs 36.0 billion in the first quarter of FY12 as compared to Rs 27.1 billion in the same period last year. "Improved sector's topline, s
Published 28 Oct, 2011 12:00am
Lyari gang war member among 3 killed

Lyari gang war member among 3 killed

At least three persons including an alleged member of Lyari gang war were killed in separate incidents at various parts of the metropolis here on Thursday. According to police and rescuers, a 41-year-old Saeed Baloch son of Ismail Baloch was shot dead at
Published 28 Oct, 2011 12:00am
CRISP provides Rs 20 million for renovation of IER

CRISP provides Rs 20 million for renovation of IER

United States funded, Community Rehabilitation Infrastructure Support Programme (CRISP) is providing Rs 20 million for renovation of the Institute of Education & Research (IER), University of Peshawar. In this connection a programme was held at the instit
Published 28 Oct, 2011 12:00am
Qadhafi son seeks aircraft to surrender

Qadhafi son seeks aircraft to surrender

Muammar Qadhafi's fugitive son Saif al-Islam wants an aircraft to take him out of Libya's southern desert so he can turn himself in to The Hague war crimes court, a source with Libya's National Transitional Council said on Thursday. A fearful Saif al-Isla
Published 28 Oct, 2011 12:00am
US plans for an online embassy will fail: Iran

US plans for an online embassy will fail: Iran

Iran on Thursday said that plans by the United States to set up an online embassy to attract Iranians would fail, the website of state television network IRIB reported. Secretary of State Hillary Clinton told the Farsi programme of the BBC on Wednesday th
Published 28 Oct, 2011 12:00am
Six killed in Syria swoop; al-Assad supporters rally

Six killed in Syria swoop; al-Assad supporters rally

Syrian security forces Thursday cracked down on opposition protesters in two flashpoint regions, reportedly killing at least six people, as pro-government Syrians rallied in a show of support for President Bashar al-Assad. A 12-year-old boy and three othe
Published 28 Oct, 2011 12:00am
Man pulled out alive 4 days after Turkey quake; toll rises to 534

Man pulled out alive 4 days after Turkey quake; toll rises to 534

Rescue workers pulled a man from the rubble alive on Thursday, more than four days after a huge quake killed at least 534 in Turkey, while homeless survivors fearing death from cold begged for aid and some accused the government of a slow response. "Prais
Published 28 Oct, 2011 12:00am
Thousands clash with police in China

Thousands clash with police in China

Thousands of people have clashed with police and smashed cars in eastern China after protests over taxes turned violent, a rights group said Thursday, while authorities put the number in the hundreds. Several police were hurt in the riots, which began as
Published 28 Oct, 2011 12:00am
Bangkok residents flee as floods threaten dikes

Bangkok residents flee as floods threaten dikes

Thailand's prime minister said Bangkok was fighting the forces of nature on Thursday as residents fled, rivers swelled and floodwater threatened to burst through dikes protecting the capital. The country's worst flooding in half a century, caused in part
Published 28 Oct, 2011 12:00am
Arab Spring activists win Sakharov prize

Arab Spring activists win Sakharov prize

The European parliament on Thursday awarded its human rights prize to five Arab Spring activists, including the Tunisian man who sparked region-wide uprisings by setting himself on fire. Tunisian fruitseller Mohamed Bouazizi was awarded the Sakharov prize
Published 28 Oct, 2011 12:00am
US slaps hefty duties on steel wheels from China

US slaps hefty duties on steel wheels from China

The US Commerce Department on Thursday said it had set preliminary anti-dumping duties of to 193.54 percent on about $80 million of steel wheels from China it said were being sold at unfairly low prices. The decision is a victory for Accuride Corporation
Published 28 Oct, 2011 12:00am
$130-a-month worker wins Indian 'Millionaire' quiz

$130-a-month worker wins Indian 'Millionaire' quiz

A computer operator who earns just $130 a month has become the first person to win the $1 million top prize on the Indian version of the "Who Wants to be a Millionaire?" television quiz. Sushil Kumar, 27, from the impoverished eastern state of Bihar, scoo
Published 28 Oct, 2011 12:00am
Egypt, Israel start prisoner swap for 'spy'

Egypt, Israel start prisoner swap for 'spy'

Israel began transferring 25 Egyptian detainees to the Sinai on Wednesday as Cairo freed a US-Israeli citizen accused of espionage, under the terms of a prisoner exchange deal. "The transfer across the border has started," said Sivan Weizman, spokeswoman
Published 28 Oct, 2011 12:00am
London cleric quits over cathedral protest camp

London cleric quits over cathedral protest camp

The Chancellor of St Paul's Cathedral resigned on Thursday after a row among church and local authorities over whether to try to evict a 200-tent protest camp occupying the square outside. Canon Chancellor Giles Fraser had made clear his sympathy with the
Published 28 Oct, 2011 12:00am
Castro should go: Clinton

Castro should go: Clinton

Secretary of State Hillary Clinton said Thursday the United States remained firm that the Castro regime should end in Cuba, despite overtures seeking reform on the communist island. Republican Representative Ileana Ros-Lehtinen, a Cuban American and fierc
Published 28 Oct, 2011 12:00am
Clinton appeals for tolerance of Islamic minorities

Clinton appeals for tolerance of Islamic minorities

US Secretary of State Hillary Clinton on Thursday appealed for Pakistan, Afghanistan and other Muslim-majority nations to respect religious minorities, saying some are treated "brutally." "This is one of our biggest problems in the world right now. There
Published 28 Oct, 2011 12:00am
Baghdad bomb blasts kill 18

Baghdad bomb blasts kill 18

Two bombs exploded in north-eastern Baghdad on Thursday, killing at least 18 people and wounding 37, police and hospital sources said. The first bomb targeted a police patrol in the Iraqi capital's Ur district and the second exploded when emergency servic
Published 28 Oct, 2011 12:00am
Commonwealth ministers stumble over human rights

Commonwealth ministers stumble over human rights

Commonwealth foreign ministers meeting on Thursday were split over how tough to get on human rights abuses in member countries, an issue which one official said their leaders were unlikely to resolve at a summit later in the week. A confidential report ah
Published 28 Oct, 2011 12:00am
Future is bright for Pakistan: Afridi

Future is bright for Pakistan: Afridi

Talismanic Pakistan all-rounder Shahid Afridi said Thursday the new chairman of the nation's cricket board gave hope to the embattled cricket side and took a swipe at the "old man" he replaced. Afridi came out of international retirement last week after b
Published 28 Oct, 2011 12:00am
Levante top again, Real thump Villarreal

Levante top again, Real thump Villarreal

Surprise leaders Levante continued their remarkable early-season run when Ruben Suarez netted a powerful stoppage-time free kick to snatch a 3-2 comeback victory at home to Real Sociedad on Wednesday. In-form Real Madrid reclaimed second spot from Barcelo
Published 28 Oct, 2011 12:00am
Azarenka reaches semis

Azarenka reaches semis

Victoria Azarenka qualified for the semi-finals of the WTA Championships with a match to spare after crushing China's Li Na 6-2 6-2 on Thursday. The world number four from Belarus has dropped just eight games in the showpiece event so far having enjoyed a
Published 28 Oct, 2011 12:00am
Ali's maiden hundred stretches Pakistan lead

Ali's maiden hundred stretches Pakistan lead

Talented Azhar Ali finally got a maiden Test century as Pakistan piled pressure on Sri Lanka on the second day of the second Test at Dubai cricket Stadium here on Thursday. A three-figure score had eluded the 26-year-old right-hander in the last 14 Tests
Published 28 Oct, 2011 12:00am
Pakistan, Bangladesh series schedule announced

Pakistan, Bangladesh series schedule announced

Pakistan will play two Tests, three one-day internationals and one Twenty20 game on their tour of Bangladesh in November-December, the Bangladesh Cricket Board said on Thursday.
Published 28 Oct, 2011 12:00am
City rout Wolves to reach last eight

City rout Wolves to reach last eight

Manchester City turned on the style again as Roberto Mancini's side followed their demolition of Manchester United with a 5-2 win at Wolves in the League Cup fourth round on Wednesday. Mancini made 11 changes from the side that routed United 6-1 on Sunday
Published 28 Oct, 2011 12:00am
Al Sadd beat 'injustice' to reach ACL final

Al Sadd beat 'injustice' to reach ACL final

Coach Jorge Fossati said his Al Sadd side had overcome "injustice" stemming from a foul-tempered semi-final after they became the first Qatari club to reach the Asian Champions League final. Al Sadd will have their work cut out in the November 5 final aga
Published 28 Oct, 2011 12:00am
Organised chaos on Indian roads intrigues Vettel

Organised chaos on Indian roads intrigues Vettel

Nothing Sebastian Vettel experiences on the track this weekend can match what the world champion has witnessed on India's roads. Speaking at the new Buddh International Circuit on Thursday, the 24-year-old German laughed when talking about the "organised
Published 28 Oct, 2011 12:00am
Consumers, businesses pump up US growth

Consumers, businesses pump up US growth

The US economy grew at its fastest pace in a year in the third quarter as consumers and businesses stepped up spending, creating momentum that could carry into the final three months of the year. The expansion was a welcome relief for an economy that look
Published 28 Oct, 2011 12:00am
United, US Airways manage profits

United, US Airways manage profits

United Continental Holdings and its rival US Airways Group on Thursday said their quarterly profits were battered by soaring fuel costs, but travel demand appears to be robust, undeterred by gathering economic threats. The third-quarter results conclude t
Published 28 Oct, 2011 12:00am
United, US Airways manage profits

United, US Airways manage profits

United Continental Holdings and its rival US Airways Group on Thursday said their quarterly profits were battered by soaring fuel costs, but travel demand appears to be robust, undeterred by gathering economic threats. The third-quarter results conclude t
Published 28 Oct, 2011 12:00am
India's richest 20 percent poorer than 2010: Forbes

India's richest 20 percent poorer than 2010: Forbes

The combined wealth of India's richest people has fallen nearly 20 percent over the last year, due to factors including inflation, falling stocks and corruption, Forbes magazine said on Thursday. The business publication said the country's 100 wealthiest
Published 28 Oct, 2011 12:00am
Moody's downgrades Egypt

Moody's downgrades Egypt

Moody's said Thursday it had downgraded Egypt's government debt rating by one notch to B1 over concerns about the country's weak economy, financial deterioration and political instability. It also warned that Egypt's outlook remains negative. Ratings of B
Published 28 Oct, 2011 12:00am
US House passes minor element of Obama jobs plan

US House passes minor element of Obama jobs plan

The Republican-led US House of Representatives on Thursday passed a minor element of President Barack Obama's jobs bill as consensus remained elusive on other efforts to boost the struggling economy. With the unemployment rate stuck at 9 percent, Republic
Published 28 Oct, 2011 12:00am
Lesotho signs $15 billion water, wind energy deal

Lesotho signs $15 billion water, wind energy deal

Lesotho has signed a $15 billion (11 billion euro) renewable energy deal with a South African company in the country's largest-ever private investment, officials said on Thursday. "The project aims to harness the natural resources of wind and water in Les
Published 28 Oct, 2011 12:00am
China eyes creation of Asean Bank

China eyes creation of Asean Bank

China is considering a proposal to set up a regional bank to help its small and medium enterprises (SMEs) invest in Southeast Asian neighbours, fund infrastructure projects and promote development in south-western China, two independent sources said.
Published 28 Oct, 2011 12:00am
Sony buys out Ericsson

Sony buys out Ericsson

Japanese electronics giant Sony said Thursday it would buy out its Swedish partner Ericsson from their mobile phone joint venture, giving it full control over its increasingly vital handset business. "Sony will acquire Ericsson's 50 percent stake in Sony
Published 28 Oct, 2011 12:00am
Euro deal leaves much to do on rescue fund, Greek debt

Euro deal leaves much to do on rescue fund, Greek debt

Eurozone leaders struck a last-minute deal on Thursday to contain the currency bloc's two-year-old debt crisis but are now under pressure to finalise the details of their plan to slash Greece's debt burden and strengthen their rescue fund. After a summit
Published 28 Oct, 2011 12:00am
Zoellick says EU deal 'buys time'

Zoellick says EU deal 'buys time'

World Bank chief Robert Zoellick on Thursday hailed a European debt crisis accord as a "first important step" and said it buys time that must be used to repair troubled economies. European leaders announced earlier Thursday a plan to shore up their bailou
Published 28 Oct, 2011 12:00am
Australia unveils $55 million gold coin

Australia unveils $55 million gold coin

Australia's Perth Mint unveiled Thursday what it says is the world's largest gold bullion coin, weighing more than a tonne and worth Aus$53.5 million (US $55 million). Embossed on one side with a leaping kangaroo and on the other with the profile of Brita
Published 28 Oct, 2011 12:00am
Sterling jumps versus dollar

Sterling jumps versus dollar

Sterling hit a seven-week high against the dollar but fell sharply versus the euro on Thursday after European leaders struck a deal on tackling the eurozone debt crisis. The EU agreement bolstered market sentiment, helping the euro to a seven-week high ag
Published 28 Oct, 2011 12:00am
Yuan lower

Yuan lower

The yuan closed down slightly versus the dollar on Thursday after the central bank set a lower mid-point amid continuing international pressure on China to strengthen its currency. Spot yuan ended down at 6.3595 compared with Wednesday's close of 6.3533.
Published 28 Oct, 2011 12:00am
Won, Singapore dollar break resistance

Won, Singapore dollar break resistance

Most emerging Asian currencies rose on Thursday as Europe's plan to ease its debt crisis boosted riskier assets, while the South Korean won and Singapore dollar breached resistance lines, indicating possible further gains in the near term. "Near term risk
Published 28 Oct, 2011 12:00am
Australian and New Zealand dollars surge

Australian and New Zealand dollars surge

The Australian and New Zealand dollars surged on Thursday, after EU leaders reached a deal with private banks and insurers to accept a 50 percent loss on their Greek debt holdings, part of a plan to tackle the region's debt crisis. The announcement sparke
Published 28 Oct, 2011 12:00am
Swiss franc down versus euro

Swiss franc down versus euro

The Swiss franc fell slightly against the euro on Thursday boosted by a comprehensive package of measures to tackle the eurozone's sovereign debt crisis that European Union leaders hammered out during the night. The franc was down 0.1 percent against the
Published 28 Oct, 2011 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 76.15-76.20 (previous 76.10-76.16). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent).
Published 28 Oct, 2011 12:00am
Euro gains versus most currencies in New York

Euro gains versus most currencies in New York

The euro rose against most currencies on Wednesday, cheered by reports that the European bailout fund aimed at containing the region's debt crisis will be boosted to as much as 1 trillion euros. European leaders plan to leverage the 400 billion euro Europ
Published 28 Oct, 2011 12:00am
Early trade in New York: Euro climbs above $1.4200

Early trade in New York: Euro climbs above $1.4200

The euro continued to rally, climbing above US $1.4200 on Thursday, to a fresh seven week high, as investors traded in the euphoria of an announced agreement to tackle the eurozone debt crisis. The euro was last up 2.3 percent at $1.4213, after climbing a
Published 28 Oct, 2011 12:00am
Euro, riskier currencies rally in London

Euro, riskier currencies rally in London

The euro hit a seven-week high against a struggling dollar on Thursday and riskier currencies rallied, as a deal to tackle the eurozone debt crisis provided relief to sceptical investors and prompted an unwinding of bearish positions. EU leaders and banks
Published 28 Oct, 2011 12:00am
Euro climbs in Asia

Euro climbs in Asia

The euro hit a seven-week high on Thursday after EU leaders and banks reached a deal on a 50 percent writedown for private bondholders on their Greek debt and made progress in other areas crucial to stemming the debt crisis.
Published 28 Oct, 2011 12:00am
Euro rates keep rising despite bank recap plans

Euro rates keep rising despite bank recap plans

Plans to recapitalise Europe's banks did little to cut the cost of unsecured borrowing between institutions on Thursday, with any loosening of conditions seen tied to medium-term progress towards shoring up the financial sector. As part of a package of me
Published 28 Oct, 2011 12:00am
FTSE jumps to three-month high

FTSE jumps to three-month high

Britain's top share index jumped to a near three-month high on Thursday as bullish investors uncorked their champagne bottles and toasted Europe's plan to tackle its debt crisis. The upbeat news from Europe boosted appetite for riskier assets such as bank
Published 28 Oct, 2011 12:00am
Australian shares at three-month high

Australian shares at three-month high

Australian shares rallied 2.5 percent to their highest close in three months on Thursday, with banks, miners and retailers all posting strong gains after a technical glitch halted trade on the Australian Stock Exchange until mid-afternoon. Traders scrambl
Published 28 Oct, 2011 12:00am
Seoul shares at 12-week high

Seoul shares at 12-week high

Seoul shares posted their highest close in 12 weeks on Thursday, buoyed by an agreement among European leaders to beef up the region's bailout fund and rallies in steelmakers and shipyards including POSCO and Daewoo Shipbuilding & Marine Engineering. The
Published 28 Oct, 2011 12:00am
Indian markets closed

Indian markets closed

India's bonds, currency and stock commodity markets were remain closed on Thursday for a two-day Diwali festival holiday. Trading will resume on Friday.
Published 28 Oct, 2011 12:00am
Banks lead surge in European shares

Banks lead surge in European shares

European shares soared to their highest close in 12 weeks on Thursday, with banks surging after European Union leaders struck a deal to help resolve the eurozone debt crisis. The STOXX Europe 600 Banking Index rose 8.9 percent, though strategists warned t
Published 28 Oct, 2011 12:00am
Hong Kong and China shares soar

Hong Kong and China shares soar

Hong Kong shares rose for the fifth-straight session on Thursday, gaining 3.3 percent on strength in mainland stocks after a eurozone deal on tackling the region's debt debacle removed a cloud hanging over global markets. Turnover was the highest in more
Published 28 Oct, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Wednesday as a stock market rally and progress on the eurozone debt crisis damped investors' desire for safe-haven US debt. News that the eurozone planned to leverage its 440 billion euro rescue fund, the EFSF, "several fold"
Published 28 Oct, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Wednesday as a stock market rally and progress on the eurozone debt crisis damped investors' desire for safe-haven US debt. News that the eurozone planned to leverage its 440 billion euro rescue fund, the EFSF, "several fold"
Published 28 Oct, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks closed up 0.39 percent on Thursday, with Apple casing supplier Catcher Technology bouncing after it said it saw progress on reopening a plant in China that had been ordered to close over pollution concerns. Chip maker UMC advanced 3.12 perce
Published 28 Oct, 2011 12:00am
US stocks rise as euro plan details emerge

US stocks rise as euro plan details emerge

US stocks rose on Wednesday as the slow progress from European leaders in resolving their debt crisis was enough to satisfy investors, even if early reports from an EU summit were short on detail. The eurozone aims to leverage its 440 billion euro bailout
Published 28 Oct, 2011 12:00am
Nikkei jumps

Nikkei jumps

The Nikkei share average climbed 2 percent to close above 8,900 for the first time since early September after policymakers reached a deal to contain the eurozone crisis, helping the market shake off some of the gloom brought on by a yen near record highs
Published 28 Oct, 2011 12:00am
Southeast Asian markets at multi-week highs on EU deal optimism

Southeast Asian markets at multi-week highs on EU deal optimism

Southeast Asian stock markets gained on Thursday and foreigners were active buyers as a eurozone deal to lower Greece's debt burden and boost the zone's rescue fund increased investors' appetite for risk. AB Capital Securities equities analyst Jose Vistan
Published 28 Oct, 2011 12:00am
Steady cotton market before Eid holidays

Steady cotton market before Eid holidays

Cotton market was stable on Thursday when spinners opted to pick up their next fortnight's requirements ahead of the forthcoming Eid-ul-Azha holidays starting from the second week of November, 2011. Transportation will also become difficult to obtain afte
Published 28 Oct, 2011 12:00am
Steady cotton market before Eid holidays

Steady cotton market before Eid holidays

Cotton market was stable on Thursday when spinners opted to pick up their next fortnight's requirements ahead of the forthcoming Eid-ul-Azha holidays starting from the second week of November, 2011. Transportation will also become difficult to obtain afte
Published 28 Oct, 2011 12:00am
Firm trend on cotton market despite aggressive selling by ginners

Firm trend on cotton market despite aggressive selling by ginners

Firmness prevailed on the cotton market on Thursday as prices resisted fresh fall amid mills' active buying, dealers said. The Karachi Cotton Association (KCA) official spot rate was maintained at overnight level: Rs 5,750, they said. Prices of seedcotton
Published 28 Oct, 2011 12:00am
Oil cake market rates

Oil cake market rates

Contracts were unchanged on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December contract that had ended at Rs 1308.20 commenced with no change in the morning session. The January vaida which ended at Rs 1176
Published 28 Oct, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 94,058 tonnes of cargo comprising 77,113 tonnes of import cargo and 16,945 tonnes of export cargo including 1,427 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 77,113 ton
Published 28 Oct, 2011 12:00am
PML-N to build pressure on government to call early poll: rally today

PML-N to build pressure on government to call early poll: rally today

Tens of thousands of people are expected to rally in country's political capital Lahore over the next few days calling for President Asif Ali Zardari to quit and for elections next year. Appetite is growing for polls in the city of eight million. That mak
Published 28 Oct, 2011 12:00am
Japan buys Ukrainian maize: trade sources

Japan buys Ukrainian maize: trade sources

Japan has bought one cargo of Ukrainian maize, in the first shipment of the grain between the countries in over a year, Ukrainian trade sources said on Wednesday. "One Panamax with Ukrainian maize, on Monday," one Ukrainian trader told Reuters. Another tr
Published 28 Oct, 2011 12:00am
PML-N to build pressure on government to call early poll: rally today

PML-N to build pressure on government to call early poll: rally today

Tens of thousands of people are expected to rally in country's political capital Lahore over the next few days calling for President Asif Ali Zardari to quit and for elections next year. Appetite is growing for polls in the city of eight million. That mak
Published 28 Oct, 2011 12:00am
Lack of transport impedes business on grain market

Lack of transport impedes business on grain market

A few deals were observed on the wholesale grain market on Thursday in the absence of proper availability of transport, dealers said. On the seed side, cottonseeds oilcake with bag Sindh low type continued falling, shedding another Rs 25 to Rs 925 due to
Published 28 Oct, 2011 12:00am
Eid-ul-Azha on November 7

Eid-ul-Azha on November 7

The new Zilhij moon will be sighted today (Friday), according to astronomical parameters. Therefore, the first of Zilhij, 1432 AH will fall on Saturday. The moon crossed the conjunction line yesterday (Thursday) at 0056 Pakistan Standard Time (PST).
Published 28 Oct, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Wednesday, touching a nine-day high amid tightening cash supplies and steady outside markets, traders said. Thin volume expected after robust spread trading a day earlier whittled down open interest in November ahead of
Published 28 Oct, 2011 12:00am
Eid-ul-Azha on November 7

Eid-ul-Azha on November 7

The new Zilhij moon will be sighted today (Friday), according to astronomical parameters. Therefore, the first of Zilhij, 1432 AH will fall on Saturday. The moon crossed the conjunction line yesterday (Thursday) at 0056 Pakistan Standard Time (PST).
Published 28 Oct, 2011 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

Hard red winter wheat basis bids were steady to firmer on Thursday with bids and offers still far apart, wheat sources said. Country sellers were holding tight to wheat supplies and demanding high prices for bushels, merchandisers reported. Offers for Jan
Published 28 Oct, 2011 12:00am
European debt deal ignites rally in stocks, euro

European debt deal ignites rally in stocks, euro

A long-awaited plan to staunch the European debt crisis sparked euphoria across financial markets on Thursday, driving up the value of the euro and the price of world stocks, crude oil and other commodities. Major US stock indices, which had been close to
Published 28 Oct, 2011 12:00am
BoJ eases policy with eye on yen, Europe crisis

BoJ eases policy with eye on yen, Europe crisis

The Bank of Japan (BoJ) on Thursday eased monetary policy by boosting purchases of government bonds as the yen's recent rise to record highs and Europe's lingering debt woes cloud the outlook for the world's third-biggest economy. The central bank kept it
Published 28 Oct, 2011 12:00am
European debt deal ignites rally in stocks, euro

European debt deal ignites rally in stocks, euro

A long-awaited plan to staunch the European debt crisis sparked euphoria across financial markets on Thursday, driving up the value of the euro and the price of world stocks, crude oil and other commodities. Major US stock indices, which had been close to
Published 28 Oct, 2011 12:00am
Monetary policy alone can't fix China inflation

Monetary policy alone can't fix China inflation

China needs to stay vigilant in its inflation fight as Europe's debt crisis festers, but monetary policy alone cannot quell price pressures, a former bank regulator said in comments published on Thursday. The remarks from Tang Shuangning, a former chairma
Published 28 Oct, 2011 12:00am
European debt deal ignites rally in stocks, euro

European debt deal ignites rally in stocks, euro

A long-awaited plan to staunch the European debt crisis sparked euphoria across financial markets on Thursday, driving up the value of the euro and the price of world stocks, crude oil and other commodities. Major US stock indices, which had been close to
Published 28 Oct, 2011 12:00am
Consumers, businesses to pump up US third quarter growth

Consumers, businesses to pump up US third quarter growth

US economic growth likely gathered steam in the third quarter as consumers and businesses set aside fears and stepped up spending, creating momentum that is expected to carry into the final three months of the year. Part of the anticipated increase will c
Published 28 Oct, 2011 12:00am
11 charged in $1 billion US railroad health scam

11 charged in $1 billion US railroad health scam

Eleven people were charged Thursday in a $1 billion fraud where employees of a busy New York commuter rail service used fake medical diagnoses to boost their incomes with disability payouts. The accused, 10 of whom have already been arrested, included sev
Published 28 Oct, 2011 12:00am
India's food inflation at 11.43 percent in October

India's food inflation at 11.43 percent in October

India's food price index rose 11.43 percent and the fuel price index climbed 14.70 percent in the year to October 15, government data on Thursday showed. In the previous week, annual food and fuel inflation stood at 10.60 percent and 15.17 percent, respec
Published 28 Oct, 2011 12:00am
11 charged in $1 billion US railroad health scam

11 charged in $1 billion US railroad health scam

Eleven people were charged Thursday in a $1 billion fraud where employees of a busy New York commuter rail service used fake medical diagnoses to boost their incomes with disability payouts. The accused, 10 of whom have already been arrested, included sev
Published 28 Oct, 2011 12:00am
South Korea third quarter growth slows as global demand cools

South Korea third quarter growth slows as global demand cools

South Korea's economy slowed for a second consecutive quarter in the July-September period and economists said softening global demand would keep holding back Asia's fourth-largest economy for a while. The central bank has pledged to continue its drive to
Published 28 Oct, 2011 12:00am
11 charged in $1 billion US railroad health scam

11 charged in $1 billion US railroad health scam

Eleven people were charged Thursday in a $1 billion fraud where employees of a busy New York commuter rail service used fake medical diagnoses to boost their incomes with disability payouts. The accused, 10 of whom have already been arrested, included sev
Published 28 Oct, 2011 12:00am
Russian economy faces tougher fourth quarter, capital flight

Russian economy faces tougher fourth quarter, capital flight

Russia's economic outlook for this quarter has darkened as capital flight and funding strains in the banking system threaten to undermine the recent strong performance of the real economy, a Reuters pol8007489l showed on Thursday. Gross domestic product (
Published 28 Oct, 2011 12:00am
Generation capacity of RPPs: Supreme Court asks Pepco to provide details

Generation capacity of RPPs: Supreme Court asks Pepco to provide details

The Supreme Court (SC) on Thursday sought details pertaining to electricity generation capacity of Rental Power Projects (RPPs) during the last 60 days from Pepco. The apex court also issued directives to the government to submit details of payments made
Published 28 Oct, 2011 12:00am
Brazil central bank sees inflation slowing

Brazil central bank sees inflation slowing

Brazil's central bank hinted on Thursday it could continue a moderate pace of interest rate cuts in coming months as risks to global financial stability have increased and inflation slows. In minutes from last week's policy meeting, released on Thursday,
Published 28 Oct, 2011 12:00am
Generation capacity of RPPs: Supreme Court asks Pepco to provide details

Generation capacity of RPPs: Supreme Court asks Pepco to provide details

The Supreme Court (SC) on Thursday sought details pertaining to electricity generation capacity of Rental Power Projects (RPPs) during the last 60 days from Pepco. The apex court also issued directives to the government to submit details of payments made
Published 28 Oct, 2011 12:00am
New Zealand holds rates, keeps tightening bias

New Zealand holds rates, keeps tightening bias

New Zealand's central bank held interest rates steady as expected on Thursday but surprised some by reaffirming plans to raise them when, and if, the global economic outlook improves. The Reserve Bank of New Zealand (RBNZ) said that it was ready to increa
Published 28 Oct, 2011 12:00am
Generation capacity of RPPs: Supreme Court asks Pepco to provide details

Generation capacity of RPPs: Supreme Court asks Pepco to provide details

The Supreme Court (SC) on Thursday sought details pertaining to electricity generation capacity of Rental Power Projects (RPPs) during the last 60 days from Pepco. The apex court also issued directives to the government to submit details of payments made
Published 28 Oct, 2011 12:00am
Brazil rejects Europe debt purchase plan

Brazil rejects Europe debt purchase plan

Brazil on Tuesday rejected the idea of buying European bonds to help ease the eurozone's debt crisis, casting doubt on a plan for major emerging market economies to offer fresh funds for the continent's rescue. European leaders had floated the idea that d
Published 28 Oct, 2011 12:00am
Gas import projects: bills seeking revision of levy laid before Senate

Gas import projects: bills seeking revision of levy laid before Senate

The government on Thursday introduced two bills in the Senate to revise the rates of levy on the basis of international market and gas import projects in public as well as private sectors. The government wants to make legislation as early as possible for
Published 28 Oct, 2011 12:00am
Dubai's Emaar raising $700 million from banks

Dubai's Emaar raising $700 million from banks

Dubai's Emaar Properties is in the process of raising around $700 million from banks, its chairman told local television on Monday. Mohamed Alabbar said the real estate firm, around 30 percent owned by the Dubai government, was currently undertaking a "bi
Published 28 Oct, 2011 12:00am
Gas import projects: bills seeking revision of levy laid before Senate

Gas import projects: bills seeking revision of levy laid before Senate

The government on Thursday introduced two bills in the Senate to revise the rates of levy on the basis of international market and gas import projects in public as well as private sectors. The government wants to make legislation as early as possible for
Published 28 Oct, 2011 12:00am
Telenor defies rough economy, lifts outlook

Telenor defies rough economy, lifts outlook

Norwegian telecoms group Telenor said emerging market growth helped core third-quarter earnings beat forecasts in the face of a choppy global economy and raised its revenue outlook on Wednesday. The company said earnings before interest, taxes, depreciati
Published 28 Oct, 2011 12:00am
Gas import projects: bills seeking revision of levy laid before Senate

Gas import projects: bills seeking revision of levy laid before Senate

The government on Thursday introduced two bills in the Senate to revise the rates of levy on the basis of international market and gas import projects in public as well as private sectors. The government wants to make legislation as early as possible for
Published 28 Oct, 2011 12:00am
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