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Archive - 2011-11-02
Quakes shake island in Canaries
Europe

Quakes shake island in Canaries

MADRID: An earthquake measuring 4.4 on the Richter scale shook El Hierro island in Spain's Canaries on Wednesday, the st
Published 02 Nov, 2011 07:43pm
Copper up on risk appetite
Commodities

Copper up on risk appetite

LONDON : Copper rallied on Wednesday helped by a weaker dollar as supply constraints while better-than-expected US job
Published 02 Nov, 2011 05:23pm
Gold down at Rs 48,000
Top News

Gold down at Rs 48,000

KARACHI: Gold dropped by Rs 428 to close at Rs 48,000 per 10 grams in the local market Wednesday, as its international p
Published 02 Nov, 2011 01:51pm
US Treasury scrapped plans to debt sale
Top News

US Treasury scrapped plans to debt sale

WASHINGTON: The US Treasury Department fragment plans to shrink the size of debt sales over economic uncertainty predict
Published 02 Nov, 2011 01:00pm
Spot gold signals mixed
Commodities

Spot gold signals mixed

SINGAPORE: Signals are mixed for spot gold , as the rise from the previous trading session's low of $1,681.74 per ounce
Published 02 Nov, 2011 05:56am
Turkey hosts summit on Afghan future
Top News

Turkey hosts summit on Afghan future

ISTANBUL : Senior diplomats will gather in Turkey on Wednesday for a global conference aimed at mapping out the future
Published 02 Nov, 2011 05:18am
Thai floods leave 427 people dead
Top News

Thai floods leave 427 people dead

BANGKOK: The death toll from Thailand's worst floods in decades surged above 400 on Wednesday as public anger simmered o
Published 02 Nov, 2011 05:15am
Money injection eases PSO woes
BR Research

Money injection eases PSO woes

The countrys largest OMC, Pakistan State Oil (PSO) surprised the market with its 1QFY12 financial results surpassing market expectations by
Published 02 Nov, 2011 12:00am
Behind gold prices
BR Research

Behind gold prices

Although the precious metal has always remained a prized commodity, prices of gold have rocketed to record levels in recent times. This surg
Published 02 Nov, 2011 12:00am
PIA predictably loses again!!
BR Research

PIA predictably loses again!!

Last year total losses reported by the national air carrier trumped the same tally from 2009 by about 400 percent. If the 9MCY11 corporate r
Published 02 Nov, 2011 12:00am
Chicken meat prices drop by Rs 30 per kg before Eid

Chicken meat prices drop by Rs 30 per kg before Eid

Chicken meat prices have decreased by Rs 30 per kilogram from Rs 165 to Rs 135 in the metropolitan city, as the farmers are clearing their poultry stock before Eid-ul-Azha. Chicken meat retailers told Business Recorder that there would be very low
Published 02 Nov, 2011 12:00am
Azad won't be allowed to follow political agenda: VP SCBA

Azad won't be allowed to follow political agenda: VP SCBA

Supreme Court Bar Association (SCBA) newly elected Punjab chapter vice president Imrana Baloch has said that the bar's president Yasin Azad would not be allowed to follow agenda of any political party. Baloch flanked by SCBA executive committee members fr
Published 02 Nov, 2011 12:00am
Minister orders action against unilateral increase in Urea prices

Minister orders action against unilateral increase in Urea prices

Federal Industries Minister and Pakistan Muslim League-Q leader Chaudhry Pervaiz Elahi has rejected increase in urea prices by urea manufacturing companies and asked the authorities concerned to take immediate action against the urea manufacturers over un
Published 02 Nov, 2011 12:00am
Three more succumb to dengue

Three more succumb to dengue

Another three people lost their lives due to dengue during the last 24 hours, raising the death toll to 301 in Punjab and 263 in Lahore. According to a report released by the health department Punjab, as many as 176 fresh confirmed dengue cases were repor
Published 02 Nov, 2011 12:00am
Coca-Cola donates CBC machines for dengue diagnosis

Coca-Cola donates CBC machines for dengue diagnosis

The Coca-Cola Company, the world's largest beverage company, has donated seven Complete Blood Count (CBC) machines to Sahara Trust for the early diagnosis of dengue. Sahara Trust will collaborate with the Government of Punjab to install these machines at
Published 02 Nov, 2011 12:00am
'Government pursuing sustainable growth of agriculture sector'

'Government pursuing sustainable growth of agriculture sector'

Minister Agriculture Punjab, Malik Ahmad Ali Aulakh has said that provincial government is actively pursuing the sustainable and consistent growth of agriculture sector, and a number of measures have been taken in this regard. The minister was addressing
Published 02 Nov, 2011 12:00am
Bilateral trade, investment: NITMA team arrives to negotiate with Aptma

Bilateral trade, investment: NITMA team arrives to negotiate with Aptma

A 13-member delegation of Northern India Textile Mills Association (NITMA) crosses Wagha border to negotiate possibilities of bilateral trade and investment opportunities with All Pakistan Textile Mills Association (APTMA). Federal Textile Minister Makhdo
Published 02 Nov, 2011 12:00am
Balochistan Minister condoles with Bhootani

Balochistan Minister condoles with Bhootani

Balochistan Minister and PPP deputy parliamentary leader Haji Madad Ali Jatak on Tuesday visited the residence of former CM Balochistan Sardar Saleh Mohammad Bhootani and sitting. Speaker Balochistan Assembly Mohammad Aslam Bhootani in Duraiji area and co
Published 02 Nov, 2011 12:00am
Intertrans Pakistan 2012 will be hosted from January 12

Intertrans Pakistan 2012 will be hosted from January 12

1st Multi-Modal International Transport & Logistics Exhibition and Conference Intertrans Pakistan 2012 will be hosted from January 12-15, 2012 at Karachi Expo Centre, Karachi organised by a leading exhibitions organiser of Pakistan, bringing together the
Published 02 Nov, 2011 12:00am
Jazz Malamaal reshapes lives across Pakistan

Jazz Malamaal reshapes lives across Pakistan

Mobilink has concluded the Jazz Malamaal campaign for 2011, with a grand awards ceremony held in Lahore. The winner of the grand prize was presented with the keys to a brand new house in the prestigious Safari Villas in Lahore, with luxury 1300 cc cars al
Published 02 Nov, 2011 12:00am
Press Council holds its first meeting

Press Council holds its first meeting

The first meeting of Press Council of Pakistan was held here on Tuesday. Press Council of Pakistan has been established in pursuant of Press Council Ordinance, 2002. The main purpose of establishment of Press Council of Pakistan is to maintain freedom of
Published 02 Nov, 2011 12:00am
Cabinet to consider four percent hike in power tariff today

Cabinet to consider four percent hike in power tariff today

The federal cabinet, which is scheduled to meet on Wednesday (today) with Prime Minister Syed Yousuf Raza Gilani in the chair, will consider a four percent increase in power tariff which Ministry of Water and Power considers is essential to reduce the gap
Published 02 Nov, 2011 12:00am
Women entrepreneurs seek loans on easy terms

Women entrepreneurs seek loans on easy terms

Women entrepreneurs at roundtable conference have sought for provision of loans on easy terms and low mark-up through commercial banks and demanded for restructuring of credit system for them. The roundtable conference held under auspices of Women Busines
Published 02 Nov, 2011 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Gold traded lower on Tuesday, under pressure from a stronger dollar, but a surprisingly weak read of US factory activity enabled the euro to claw back some gains, thereby helping the bullion price pare earlier losses. Earlier, Greek Prime Minister George
Published 02 Nov, 2011 12:00am
US MIDDAY: copper stays lower

US MIDDAY: copper stays lower

Copper fell for a second day on Tuesday as a deal to rescue Greece and prevent a wider sovereign debt crisis hit a new roadblock and as softer Chinese data clouded prospects for demand from the top metal consumer. Metals bore the brunt of further risk ave
Published 02 Nov, 2011 12:00am
US MIDDAY: wheat and corn fall

US MIDDAY: wheat and corn fall

US wheat and corn fell for the second day on Tuesday and soya hit a 3-week low, pressured by fresh eurozone fears after Greece's call for a referendum on its bailout package as well as a panicky reaction to futures trader MF Global's bankruptcy fallout.
Published 02 Nov, 2011 12:00am
Gold slips in London

Gold slips in London

Gold buckled under pressure from a stronger dollar on Tuesday after the Greek prime minister shocked financial markets by calling a referendum on an agreed bailout package and as the collapse of broker MF Global dented commodities. Prime Minister George P
Published 02 Nov, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Spot gold was steady on Tuesday, supported by safe-haven demand on resurfacing uncertainty over the eurozone's efforts to resolve its debt crisis, while a strong dollar weighed down prices. Spot gold was little changed at $1,714.54 an ounce by 0701 GMT, a
Published 02 Nov, 2011 12:00am
US gold eases

US gold eases

Gold lost nearly 1 percent in thinner-than-usual trade on Monday, after Japan's intervention to weaken the yen sent the dollar soaring and commodities and other risk assets into a tailspin at the start of the week. Currency-led selling pulled bullion down
Published 02 Nov, 2011 12:00am
Brent oil slips

Brent oil slips

Brent crude prices edged lower on Tuesday in volatile trade as a possible referendum in Greece on its debt bailout revived concerns about the eurozone and weak global economic data pointed to further slowing. Brent and US crude fell a third straight sessi
Published 02 Nov, 2011 12:00am
Cocoa sinks 3.6 percent

Cocoa sinks 3.6 percent

US cocoa futures sank 3.6 percent on Tuesday, in their steepest fall in two months, after Greece's shock decision to hold a referendum on its bailout package threatened to intensify the eurozone crisis. Sugar and arabica coffee futures also fell, while ro
Published 02 Nov, 2011 12:00am
Palm oil dips

Palm oil dips

Malaysian palm oil futures slipped on Tuesday on concerns over the effectiveness of the eurozone bailout package, although a focus on heavy rains stalling production of the vegetable oil limited losses. Risk appetite waned after Greece decided to put the
Published 02 Nov, 2011 12:00am
US wheat falls over two percent

US wheat falls over two percent

US wheat fell over 2 percent on Monday as the dollar surged against the yen, new concerns arose over Europe's debt crisis and traders grew wary after futures trading giant MF Global filed for bankruptcy. Corn and soyabeans also eased nearly 1 percent pres
Published 02 Nov, 2011 12:00am
Tokyo, Shanghai rubber drop

Tokyo, Shanghai rubber drop

Tokyo rubber futures dropped to a near one-week low on Tuesday, weighed down by uncertainty over Europe's efforts to resolve its debt crisis and the collapse of broker-dealer MF Global, dealers said. The benchmark rubber contract on the Tokyo Commodity Ex
Published 02 Nov, 2011 12:00am
Copper drops over three percent

Copper drops over three percent

Copper fell more than three percent on Tuesday on worries about the impact on the global economy of a new eurozone crisis and an unexpected slowdown in factory activity in top metals consumer China but an improvement in new manufacturing orders in the US
Published 02 Nov, 2011 12:00am
Shanghai copper down

Shanghai copper down

The most-active January copper contract on the Shanghai Futures Exchange dropped 0.9 percent to 57,710 yuan ($9,081.18) per tonne, after falling 1.7 percent on Monday. "It's not just copper prices that are receding today, but also equities and the euro,"
Published 02 Nov, 2011 12:00am
US copper slips

US copper slips

Copper capped its best monthly performance in nearly a year with a 2 percent loss on Monday, as the dollar rose and enthusiasm for Europe's debt deal gave way to the view the region's economic problems are far from over. In New York, the key December COME
Published 02 Nov, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures closed lower Tuesday on liquidation by investors spooked by a re-emerging euro zone debt crisis and news from US brokerage MF Global. The key December cotton contract on ICE Futures US dropped 2.75 cents or almost 2.7 percent to finish at 9
Published 02 Nov, 2011 12:00am
National Foods

National Foods

National Foods, the pioneers of packaged spices in Pakistan, has grown to become one of the biggest spices and additives makers in Pakistan. By committing to its principles of purity and quality, the Company has achieved many milestones and has now become
Published 02 Nov, 2011 12:00am
National Foods

National Foods

National Foods, the pioneers of packaged spices in Pakistan, has grown to become one of the biggest spices and additives makers in Pakistan. By committing to its principles of purity and quality, the Company has achieved many milestones and has now become
Published 02 Nov, 2011 12:00am
PIA suspends Revenue Management System

PIA suspends Revenue Management System

Pakistan International Airline (PIA) has abolished its Revenue Management System (RMS), which was meant to determine the fares of the airline on different routes, a private TV channel reported on Tuesday.
Published 02 Nov, 2011 12:00am
'APML leadership to present its assets soon'

'APML leadership to present its assets soon'

Sultan Mehmood Malik, a district Co-ordinator of All Pakistan Muslim League (APML) has said that the APML leadership would soon present the details of its assets before the masses. In a press statement issued here on Tuesday Malik said that the APML had e
Published 02 Nov, 2011 12:00am
China launches spacecraft on key mission

China launches spacecraft on key mission

China launched an unmanned spacecraft on Tuesday to carry out a key docking mission, taking its next step towards the goal of building its first space station by 2020. The Shenzhou VIII blasted off from the Gobi desert in China's north-west at 5:58 am (21
Published 02 Nov, 2011 12:00am
Thousands of anti-capitalists march on Riviera ahead of G20

Thousands of anti-capitalists march on Riviera ahead of G20

Thousands of anti-capitalists poured into the French Riviera city of Nice on Tuesday for a march against corporate greed ahead of the G20 summit in nearby Cannes, echoing protests world-wide. Shouting "People first, not finance!", protesters from around E
Published 02 Nov, 2011 12:00am
Colombia eliminates secret service

Colombia eliminates secret service

President Juan Manuel Santos Monday eliminated Colombia's disgraced secret service after years of embarrassing revelations, including its infiltration by right-wing paramilitaries, the wire-tapping of journalists and judges, and murder. "Today the DAS (se
Published 02 Nov, 2011 12:00am
Britain warns over Internet freedom at cyberspace talks

Britain warns over Internet freedom at cyberspace talks

British Foreign Secretary William Hague issued a warning Tuesday to countries that try to restrict Internet freedom as he opened a global conference designed to set up "rules of the road" for cyberspace. Government officials, tech firms, NGOs, bloggers an
Published 02 Nov, 2011 12:00am
Britain to roll out US-style anti-gang plans

Britain to roll out US-style anti-gang plans

Britain's Home Secretary says the country will roll out programmes pioneered in the United States to tackle gang-related violence. Theresa May told Parliament on Tuesday that teams of police, health workers and community leaders would use ideas which have
Published 02 Nov, 2011 12:00am
Iraq declines regional military training

Iraq declines regional military training

Iraq has declined offers from Turkey and Iran to train its forces, after the failure of negotiations with the US on a post-2011 training mission, a high-ranking Iraqi official said on Tuesday. "Tehran and Ankara offered to train Iraqi forces, but we did n
Published 02 Nov, 2011 12:00am
Tehran mayor takes legal action against UK embassy

Tehran mayor takes legal action against UK embassy

The mayor of Tehran has launched legal proceedings against the British embassy, which he accuses of destroying an embassy garden in the Iranian capital - the latest spat in a prickly relationship with London. Iran's Foreign Ministry spokesman confirmed on
Published 02 Nov, 2011 12:00am
Indian IT chief launches salvo at government

Indian IT chief launches salvo at government

One of India's most respected businessmen slammed the government in remarks printed Tuesday, saying officials have failed to provide leadership as confidence in the country's economy wavers. Azim Premji, the chairman of IT giant Wipro, said there was a "c
Published 02 Nov, 2011 12:00am
Saudi crown prince rules out compromise with Iran

Saudi crown prince rules out compromise with Iran

Saudi Crown Prince Nayef bin Abdul Aziz on Tuesday ruled out any compromise with Iran over allegations of Iranian involvement in a plot to murder the Saudi ambassador to Washington. "There can be no compromise with Iran concerning the assassination bid be
Published 02 Nov, 2011 12:00am
Arab League, Syria agree crisis deal

Arab League, Syria agree crisis deal

Algeria's Foreign Minister Mourad Medelci said on Tuesday an Arab League committee charged with seeking an end to the violence in Syria had reached agreement with Syrian authorities, Al Arabiya television reported. Al Arabiya gave no further details. Syri
Published 02 Nov, 2011 12:00am
17th century Chinese coin dug up in Canada

17th century Chinese coin dug up in Canada

Archaeologists have unearthed a Chinese coin minted between 1667 and 1671 at a planned mine site in the Yukon, suggesting early trade with Canada's far north, the mining company announced. The 340-year-old Chinese coin was found during a dig in June withi
Published 02 Nov, 2011 12:00am
Hillary Clinton's mother dies

Hillary Clinton's mother dies

The 92-year-old mother of US Secretary of State Hillary Clinton died early Tuesday after her health took a turn for the worse, causing the chief US diplomat to cancel foreign travel plans. Dorothy Rodham, who was born in Chicago on June 4, 1919, died shor
Published 02 Nov, 2011 12:00am
US soldier jailed

US soldier jailed

A South Korean court Tuesday jailed a US soldier for 10 years for the "sadistic and perverted" rape of a teenager. The private was sentenced for raping the 18-year-old multiple times at Dongducheon city, which hosts the US Second Infantry Division base an
Published 02 Nov, 2011 12:00am
Obama planning next steps in Afghan drawdown

Obama planning next steps in Afghan drawdown

The White House has asked the Pentagon for initial recommendations for the US troop presence in Afghanistan in 2014, a first step in planning the final US drawdown there despite a bleak security outlook. Sources familiar with the discussions said Presiden
Published 02 Nov, 2011 12:00am
Misbah positive on Sri Lanka series win

Misbah positive on Sri Lanka series win

Pakistan captain Misbah-ul Haq, riding on a year's success, vowed to remain positive in his bids to win the series against Sri Lanka as the teams prepare for the third Test starting here on Thursday. Misbah hopes his team come down hard on Sri Lanka, as t
Published 02 Nov, 2011 12:00am
Rooney makes Ballon d'Or list

Rooney makes Ballon d'Or list

FIFA and France Football magazine on Tuesday unveiled the 23-man shortlist for the 2011 Ballon d'Or, with Wayne Rooney the sole Englishman nominated alongside eight players from Champions League winners Barcelona. Rooney helped Manchester United win the P
Published 02 Nov, 2011 12:00am
Guptill maintains control for New Zealand

Guptill maintains control for New Zealand

Martin Guptill's seventh Test fifty in his 16th match put New Zealand on course for a big total in the first innings of their one-off Test against Zimbabwe here Tuesday. Guptill went to tea on 74 not out, while skipper Ross Taylor was unbeaten on 33, as N
Published 02 Nov, 2011 12:00am
F1 teams eye Indian sponsorship pie

F1 teams eye Indian sponsorship pie

The indifference shown by the majority of India's deep-pocketed corporates towards Formula One has baffled team bosses who expect them to warm to the sport following the success of last weekend's inaugural Indian Grand Prix. The teams are mostly happy wit
Published 02 Nov, 2011 12:00am
Pakistan reach final of tri-nation hockey

Pakistan reach final of tri-nation hockey

Pakistan's hockey team has reached the final of the tri-nation hockey tournament, a private news channel reported. Pakistan will face Australia in the final on Thursday after playing to a draw in their second match against rivals India. The score between
Published 02 Nov, 2011 12:00am
'Immoral' Iranian players feel pinch of federation

'Immoral' Iranian players feel pinch of federation

Two Iranian footballers have felt the wrath of the country's national federation for "immoral" on-field behaviour which included one player pinching the other's bottom, Iranian state television revealed. Defender Mohammad Nosrati was suspended for an "ind
Published 02 Nov, 2011 12:00am
Tsonga advances in Valencia

Tsonga advances in Valencia

World number eight Jo-Wilfred Tsonga struggled to victory against wild-card entry Javier Marti from Spain 4-6, 7-5, 6-2, here in the first round of the Valencia Open on Tuesday. The Frenchman, perhaps feeling the effects of his exploits in winning the Vie
Published 02 Nov, 2011 12:00am
Kenya set to tour Namibia, Zimbabwe for Twenty20s

Kenya set to tour Namibia, Zimbabwe for Twenty20s

Kenya will play eight Twenty20s against Namibia and a further two matches in Zimbabwe this month in preparation for next year's World Twenty20 qualifying tournament, Cricket Kenya said Tuesday. The tour begins on November 2 in Windhoek, which will host al
Published 02 Nov, 2011 12:00am
Record-making Sharjah reemerges on cricket horizon

Record-making Sharjah reemerges on cricket horizon

Fondly remembered as the 'oasis of cricket', the Sharjah stadium will reemerge on the international horizon with the staging of the third and final Test between Pakistan and Sri Lanka starting from Thursday. From Javed Miandad's last-ball six to hat-trick
Published 02 Nov, 2011 12:00am
Bangladesh face tough task after Bravo's 195

Bangladesh face tough task after Bravo's 195

Bangladesh face a tough battle to save the series-deciding second and final Test against the West Indies despite opener Tamim Iqbal's bold 82 not out on Tuesday. The hosts, chasing an improbable target of 508, were 164-3 in their second innings at stumps
Published 02 Nov, 2011 12:00am
Ba treble lifts Newcastle into third place

Ba treble lifts Newcastle into third place

Demba Ba fired Newcastle into third place in the Premier League as the Senegal striker bagged a hat-trick in a 3-1 win over Stoke at the Britannia Stadium on Monday. Alan Pardew's side have been the surprise package of the season and this may well have be
Published 02 Nov, 2011 12:00am
Money markets: referendum fears threaten bank financing window

Money markets: referendum fears threaten bank financing window

The brief financing opportunity that banks have enjoyed in recent weeks is set to end abruptly after the Greek prime minister's call for a referendum on the country's bailout deal raised fears of its uncontrolled default.
Published 02 Nov, 2011 12:00am
Ringgit, Singapore dollar down

Ringgit, Singapore dollar down

The Malaysian ringgit and the Singapore dollar fell on Tuesday, leading other regional currencies lower on worries the sagging global economy and slow progress on the European debt crisis may increase downward pressure on emerging Asian units. Some offsho
Published 02 Nov, 2011 12:00am
Indian rupee slides

Indian rupee slides

The Indian rupee posted its largest one session fall in nearly two weeks on Tuesday as concerns that Europe's debt crisis may worsen eroded global risk appetite hurting equities and the euro. The partially convertible rupee ended at 49.27/28 per dollar, 1
Published 02 Nov, 2011 12:00am
Aussie dollar skids after RBA cut

Aussie dollar skids after RBA cut

The Aussie skidded on Tuesday after the Reserve Bank of Australia (RBA) cut interest rates in the first easing in two-and-a-half years, and investors wagered on more. The Aussie fell almost a cent to $1.0432 after the RBA cut its cash rate 25 basis points
Published 02 Nov, 2011 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 76.24-76.27 (previous 76.20-76.25). Call Money Rates: 16.00-17.00 percent (previous 10.00-15.00 percent).
Published 02 Nov, 2011 12:00am
Yen slumps to three-month low

Yen slumps to three-month low

The yen slumped to a three-month low against the dollar, while the euro pared its October gains on renewed fears about last week's plan to stem Europe's debt and bank crisis. The yen tumbled against the dollar after Japan intervened to curb the currency's
Published 02 Nov, 2011 12:00am
Euro falls versus dollar, yen

Euro falls versus dollar, yen

The euro fell more than one percent versus the dollar and yen on Tuesday as investors cut exposure to the common currency after Greece's unexpected call for a referendum revived uncertainty over how the eurozone will solve its debt crisis. If the Greek pe
Published 02 Nov, 2011 12:00am
Dollar dips versus yen

Dollar dips versus yen

The dollar dipped versus the yen on Tuesday, having pulled back from a three-month high as the impact of Japan's massive intervention faded a touch, while growing doubts over a plan to contain Europe's debt crisis weighed on the euro. The Australian dolla
Published 02 Nov, 2011 12:00am
Sterling outperforms weak euro

Sterling outperforms weak euro

Sterling hit a one-month high against the euro on Monday after Greece's decision to hold a referendum on an EU bailout stoked concerns that the debt crisis was escalating and drove speculators to cut positions. The risk-averse sentiment in markets pushed
Published 02 Nov, 2011 12:00am
Chinese yuan flat

Chinese yuan flat

China's yuan ended flat on Tuesday, after the central bank set the mid-point near a record high, showing its intention to let the Chinese currency rise faster ahead of a G20 meeting. The People's Bank of China fixed the mid-point at 6.3293 versus the doll
Published 02 Nov, 2011 12:00am
FTSE 100 sharply lower

FTSE 100 sharply lower

Financial stocks led Britain's FTSE 100 sharply lower on Tuesday, after the Greek Prime Minister's call for a referendum on the bailout package agreed last week sent shockwaves through markets and heightened tensions over debt contagion. London's blue chi
Published 02 Nov, 2011 12:00am
European shares slide

European shares slide

European shares gave back a hefty slice of October's gain and recorded their biggest one day loss in over a month on Tuesday as shock Greek plans for a referendum on its eurozone bailout package sparked heavy selling across all sectors. Eurozone banks and
Published 02 Nov, 2011 12:00am
Nikkei slips

Nikkei slips

The Nikkei share average fell on Tuesday after downbeat domestic earnings reports and fresh worries about Europe prompted profit-taking in exporters and recent gainers. Consumer electronics maker Panasonic slid more than 5 percent after it forecast a full
Published 02 Nov, 2011 12:00am
Southeast Asian stocks fall

Southeast Asian stocks fall

Southeast Asian stock markets fell in light volume on Tuesday as renewed worries about Europe's debt crisis prompted investors to cut exposure to riskier assets, with resource shares under selling pressure because of losses in global oil prices. Late sell
Published 02 Nov, 2011 12:00am
Treasuries soar

Treasuries soar

US Treasuries soared on Monday, with 30-year bonds posting their best day since the Federal Reserve announced its first massive stimulus program, as stock market losses bolstered the bid for safe-haven US government debt. Investors also jumped in to buy b
Published 02 Nov, 2011 12:00am
Treasuries soar

Treasuries soar

US Treasuries soared on Monday, with 30-year bonds posting their best day since the Federal Reserve announced its first massive stimulus program, as stock market losses bolstered the bid for safe-haven US government debt. Investors also jumped in to buy b
Published 02 Nov, 2011 12:00am
Gulf markets drop

Gulf markets drop

Greece's shock decision to hold a referendum on its bail-out package hit regional markets on Tuesday, with all indexes slipping and Dubai's benchmark made its largest one-day decline in 12 weeks. Dubai's bourse fell 1.8 percent, down for a second day sinc
Published 02 Nov, 2011 12:00am
Wall Street posts best month in 20 years

Wall Street posts best month in 20 years

Wall Street closed its best month in 20 years on a down note on Monday as the failure of trading firm MF Global Holdings Ltd and new worries about Europe's debt crisis hammered financial shares. In a sign that Europe's woes were far from over, Italian and
Published 02 Nov, 2011 12:00am
Tuesday's midday trade: stocks tumble

Tuesday's midday trade: stocks tumble

US stocks tumbled more than 2 percent on Tuesday after a proposed Greek referendum threatened to upend a European bailout plan to contain the sovereign debt crisis. Analysts said if Greek voters reject the unpopular bailout, it would result in a "hard def
Published 02 Nov, 2011 12:00am
Hong Kong shares slip; China flat

Hong Kong shares slip; China flat

Hong Kong shares fell on Tuesday after a surprise drop in Chinese manufacturing and renewed worries over a eurozone debt deal did little to slow profit-booking after last month's rally, particularly in the property sector. Turnover was light as investors
Published 02 Nov, 2011 12:00am
Indian shares remain down

Indian shares remain down

Indian shares dropped for the second straight session on Tuesday and closed down 1.27 percent, falling the most in ten days, led by losses in ICICI Bank, as investors continued to take profits after last month's rally. A global retreat from riskier assets
Published 02 Nov, 2011 12:00am
Global factories lose steam, exports falter

Global factories lose steam, exports falter

Global factory activity slowed in October on weak demand for exports, with a sharp contraction in Britain's manufacturing sector suggesting that Europe was on the brink of a new recession. While manufacturing surveys on Tuesday from North America to debt
Published 02 Nov, 2011 12:00am
Pfizer raises 2011 outlook as profit soars

Pfizer raises 2011 outlook as profit soars

US pharmaceuticals giant Pfizer on Tuesday raised its full-year earnings outlook after posting robust third-quarter profit that topped analysts' expectations. The company said it had net income of $3.74 billion in the July-September period, compared with
Published 02 Nov, 2011 12:00am
Pfizer raises 2011 outlook as profit soars

Pfizer raises 2011 outlook as profit soars

US pharmaceuticals giant Pfizer on Tuesday raised its full-year earnings outlook after posting robust third-quarter profit that topped analysts' expectations. The company said it had net income of $3.74 billion in the July-September period, compared with
Published 02 Nov, 2011 12:00am
Yahoo! makes $270 million deal for interclick

Yahoo! makes $270 million deal for interclick

Yahoo! announced Tuesday that it is buying Internet advertising company interclick in a cash deal worth $270 million. Yahoo! said it was offering $9 per share for the outstanding shares of the New York-based interclick, a 22 percent premium over its closi
Published 02 Nov, 2011 12:00am
Greece risks meltdown after bailout vote bombshell

Greece risks meltdown after bailout vote bombshell

The Greek government faced possible collapse on Tuesday as ruling party lawmakers demanded Prime Minister George Papandreou resign for throwing the nation's euro membership into jeopardy with a shock call for a referendum. Caught unawares by his high-risk
Published 02 Nov, 2011 12:00am
Credit Suisse slashes jobs, looks to emerging giants

Credit Suisse slashes jobs, looks to emerging giants

Swiss banking giant Credit Suisse said Tuesday it would cut 1,500 more jobs, mostly in the developed world, putting its focus on fast-growing markets of Brazil, China, Russia and Southeast Asia. Most of the latest job losses would fall "relatively evenly
Published 02 Nov, 2011 12:00am
BHP approves $4.2 billion Mitsubishi coal venture

BHP approves $4.2 billion Mitsubishi coal venture

The world's biggest miner BHP Billiton Tuesday approved the expansion and development of its coal assets in Australia's Bowen Basin as part of a US $4.2 billion venture with Japan's Mitsubishi Development. The development of the Caval Ridge Mine project a
Published 02 Nov, 2011 12:00am
US factory growth eases, no recession seen

US factory growth eases, no recession seen

The pace of growth in US manufacturing slowed last month, though improvement in October new orders suggested stable but slow growth for the US economy. While the survey from the Institute for Supply Management on Tuesday frustrated expectations for a pick
Published 02 Nov, 2011 12:00am
Japanese car sales reverse trend, South Korea strong

Japanese car sales reverse trend, South Korea strong

Japanese car sales rose by double-digits in October thanks to a low comparison base from last year and South Korean carmakers continued their winning ways with double-digit global sales gains. The bump in Japanese sales may be a one-off gain however, beca
Published 02 Nov, 2011 12:00am
Bank of America scraps debit fee plan

Bank of America scraps debit fee plan

In the wake of a strong public backlash, Bank of America on Tuesday announced it was abandoning plans to charge monthly fees for debit card users. "We have listened to our customers very closely over the last few weeks and recognise their concern with our
Published 02 Nov, 2011 12:00am
New York mortgage broker sued

New York mortgage broker sued

The federal government has sued one of the nation's largest privately held mortgage brokers in New York. It says the company committed lending fraud as the government was paying $834 million in insurance claims. The lawsuit was filed Tuesday in federal co
Published 02 Nov, 2011 12:00am
New York mortgage broker sued

New York mortgage broker sued

The federal government has sued one of the nation's largest privately held mortgage brokers in New York. It says the company committed lending fraud as the government was paying $834 million in insurance claims. The lawsuit was filed Tuesday in federal co
Published 02 Nov, 2011 12:00am
Australia's central bank cuts rates

Australia's central bank cuts rates

Australia's central bank cut its main cash rate on Tuesday for the first time since the global financial crisis more than two years ago, responding to benign inflation at home and threats to the global economy from Europe's debt emergency. The Australian
Published 02 Nov, 2011 12:00am
Oil cake market rates

Oil cake market rates

December vaida was up while the January contract was unchanged on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December contract that had ended at Rs 1307.30 commenced with a gain of 40 paisa at Rs 1307.70 in t
Published 02 Nov, 2011 12:00am
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