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Archive - 2011-11-10
Mexican gross fixed investment falls
Top News

Mexican gross fixed investment falls

MEXICO CITY: Mexico's gross fixed investment fell in August, the first fall in five months, signaling a weaker economy i
Published 10 Nov, 2011 04:08pm
China coal mine accident kills 19
Asia

China coal mine accident kills 19

BEIJING: At least 19 miners were killed Thursday in a coal mine accident in southwest China, state media reported, the l
Published 10 Nov, 2011 09:57am
Watch out banks ratings!
BR Research

Watch out banks ratings!

The horrendous series of financial crises confronting the world today is, arguably brought on by the slicing and dicing of ballooning debt b
Published 10 Nov, 2011 12:00am
No possibility of political change in the country: Rehman

No possibility of political change in the country: Rehman

Interior Minister Rehman Malik has ruled out any possibility of political change in the country, and called for forging unity in accordance with teachings of the Poet of the East, Dr Allama Mohammed Iqbal. He said this while talking to reporters after vis
Published 10 Nov, 2011 12:00am
Nation celebrates 134th birth anniversary of Allama Iqbal

Nation celebrates 134th birth anniversary of Allama Iqbal

The 134th birth anniversary of the Poet of the East, Dr Allama Mohammed Iqbal observed across the country on Wednesday (November 9) with traditional zeal and fervour. The Government of Pakistan has announced a public holiday on Wednesday to celebrate Alla
Published 10 Nov, 2011 12:00am
PN assumes guard duties at Iqbal's mausoleum

PN assumes guard duties at Iqbal's mausoleum

In order to pay homage to national poet and great philosopher Dr Allama Muhammad Iqbal, change of guard ceremony was held by Pakistan Navy at Mazar-e-Iqbal in a befitting manner. Pakistan Navy contingent assumed guard duties at the mausoleum of Allama Iqb
Published 10 Nov, 2011 12:00am
'GSP plus' status in the EU: Bangladesh objections unfounded: Aptma

'GSP plus' status in the EU: Bangladesh objections unfounded: Aptma

The Chairman of All Pakistan Textile Mills Association (Aptma), Mohsin Aziz, said here on Wednesday that objections raised by Bangladesh about Pakistan on 'GSP plus' status in the EU market "are unfounded" as Pakistan would never be a threat to Bangladesh
Published 10 Nov, 2011 12:00am
IGMG distributes sacrificial meat among 400,000 people

IGMG distributes sacrificial meat among 400,000 people

The Muslim brethren from Turkey settled across European countries including Germany, Australia, Britain, Belgium and other countries this time celebrated Eidul Azha with the flood victims across four provinces, Gilgit-Baltistan, and Azad Kashmir and distr
Published 10 Nov, 2011 12:00am
JI to organise tribesmen against corrupt system

JI to organise tribesmen against corrupt system

Jamaat-e-Islami (JI) has become the representative party of the countrymen and the tribesmen, former JI chief Qazi Hussain Ahmad expressed these views while addressing a mammoth public gathering at Peero Khel Shinwari at Landikotal here on Wednesday.
Published 10 Nov, 2011 12:00am
Hide collection triggers armed clashes

Hide collection triggers armed clashes

Although the Sindh government claimed to have beefed up security to avoid violence over hide collection, several armed clashes erupted in many parts of the city during Eid-ul-Azha. Various areas remained tense after clashes among different political and r
Published 10 Nov, 2011 12:00am
'Legislation on Seraiki province within months'

'Legislation on Seraiki province within months'

MPA Syed Abdul Qadir Gilani on Wednesday said that legislation on Seraiki province by Punjab and National Assemblies would be enacted in few months. He expressed these views in Eid Millan party organised by member Federal Council of Pakistan People's Part
Published 10 Nov, 2011 12:00am
PSMA urges government to speed up sugar buying

PSMA urges government to speed up sugar buying

Pakistan Sugar Mills Association (PSMA) has urged the government to speed up process of sugar buying through the Trading Corporation of Pakistan (TCP) in order to start crushing of sugarcane season on time. Working under the Ministry of commerce, Trading
Published 10 Nov, 2011 12:00am
President condoles Mumtaz Rao's demise

President condoles Mumtaz Rao's demise

President Asif Ali Zardari has expressed deep sorrow over the sad demise of Mumtaz Hamid Rao, a renowned journalist and former Director of News of Pakistan Television, who passed away in Rawalpindi. The President in a message to the family appreciated his
Published 10 Nov, 2011 12:00am
World Bank considering to finance T4HP

World Bank considering to finance T4HP

World Bank is considering to provide financial assistance for Tarbela Fourth Extension Hydropower Project (T4HP) to facilitate a sustainable expansion in Pakistan's electricity generation capacity, which will be completed at a cost of $900 million. In Env
Published 10 Nov, 2011 12:00am
Government urged to reduce prices of agriculture inputs

Government urged to reduce prices of agriculture inputs

Pakistan Agriculture Scientists Association (PASA) President Jamshed Iqbal Cheema has urged the government to focus on reducing the prices of agricultural inputs so as the growers can produce maximum from the available resources and avoid food security th
Published 10 Nov, 2011 12:00am
Mian Khalid Anwar passes away

Mian Khalid Anwar passes away

Prominent business tycoon, Mian Khalid Anwar, expired after a protracted illness. He was the brother of Mian Jawaid Anwar (Chairman) and Uncle of Mian Faiq Jawaid (Director) J K Group and Shaiq Jawaid (Vice Chairman) Faisalabad Development Trust/Co-ordina
Published 10 Nov, 2011 12:00am
Nawaz offers Eid prayers at Raiwind

Nawaz offers Eid prayers at Raiwind

Pakistan Muslim League-Nawaz (PML-N) President Mian Nawaz Sharif accompanied by Punjab Chief Minister Muhammad Shahbaz Sharif and other members of Sharif family offered Eid prayers at Raiwind on Monday. After offering Eid prayers, Nawaz mixed up with the
Published 10 Nov, 2011 12:00am
Israel must stop building settlements on occupied lands: Pakistan

Israel must stop building settlements on occupied lands: Pakistan

Reiterating its support to the Palestinians' right to self-determination, Pakistan Tuesday called on Israel to cease all settlement activity on occupied Palestinian territories to promote peace in the Middle East. "We also call for complete lifting of the
Published 10 Nov, 2011 12:00am
No death from dengue in Punjab during last 24 hours

No death from dengue in Punjab during last 24 hours

Dengue cases have decreased considerably in Punjab and no death occurred throughout the province during the last 24 hours. According to a health department spokesman 63 dengue patients have been cured and discharged from various hospitals of Lahore during
Published 10 Nov, 2011 12:00am
SRB proposes trade terminals at Khokhrapar border

SRB proposes trade terminals at Khokhrapar border

Sindh Revenue Board (SRB) has proposed the provincial government to set up trade terminals at Khokhrapar to boost up economy by starting trade through Khokhrapar-Munabao border. This proposal has been sent to Chief Minister Sindh Syed Qaim Ali Shah throug
Published 10 Nov, 2011 12:00am
Six persons killed during Eid holidays

Six persons killed during Eid holidays

At least six persons were killed in the incidents of targeted killings in various parts of the metropolis during the last three days of Eid-ul-Azha. According to police, an armed clash between two groups at Muhammadi Colony, in the limits of Docks police
Published 10 Nov, 2011 12:00am
Turkish businessmen call on chief minister Punjab

Turkish businessmen call on chief minister Punjab

Punjab Chief Minister Shahbaz Sharif has said that Muslim countries should strengthen each other through economic relations. He said that the agreement of solid waste management between Punjab and Turkey is a milestone, which will open new vistas of co-op
Published 10 Nov, 2011 12:00am
Two more grave exhumers arrested

Two more grave exhumers arrested

The incidents of graves profanation have shocked the already depressed Karachiities as two more persons were caught within the limit of Gulshan-e-Maymar police station over the charges of lifting bodies from graves for black magic. Police claimed to have
Published 10 Nov, 2011 12:00am
Assets of corrupt politicians: Imran announces formation of cell

Assets of corrupt politicians: Imran announces formation of cell

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has on Tuesday hit out at President Asif Ali Zardari, Nawaz Sharif and Shahbaz Sharif, as he announced the formation of a cell that will disclose true assets of corrupt political parties, including of the
Published 10 Nov, 2011 12:00am
US Congressmen call on Zardari

US Congressmen call on Zardari

A delegation of US Congressmen, led by Michael McCaul (r), called on President Asif Ali Zardari at Bilawal House on Tuesday and discussed Pak-US bilateral relations, strategic dialogue, Reconstruction Opportunity Zones (ROZs), war against terror, situatio
Published 10 Nov, 2011 12:00am
Prime Minister urged to enhance wheat support price

Prime Minister urged to enhance wheat support price

Agri Forum Pakistan has urged Prime Minister Yousaf Raza Gilani to enhance wheat support price from current Rs 950 per 40 kg to Rs 1250 kg as the growers may suffer a loss of Rs 2100 per acre if the present rate of support price is maintained. Agri Forum
Published 10 Nov, 2011 12:00am
'Pak-China military drill not targeted at India'

'Pak-China military drill not targeted at India'

Brushing aside New Delhi media's frenzy over joint anti-terrorism exercise, the Ministry of National Defence here has dismissed Indian reports that China and Pakistan are holding a joint military exercise to put pressure on New Delhi, and said the anti-te
Published 10 Nov, 2011 12:00am
Former town mayor, bodyguard killed in attack

Former town mayor, bodyguard killed in attack

A former town mayor, his son and bodyguard were killed and eight other people wounded on Monday when a suicide bomber blew himself up Swabi, police said. The bomber targeted Hanif Khan Jadoon in Swabi, 90 kilometres east of Peshawar, as he was sitting in
Published 10 Nov, 2011 12:00am
Bike lifting: rangers remove its officials from service

Bike lifting: rangers remove its officials from service

Sindh Rangers have removed its officials from service over the charge of their misconduct. According to official statement issued here on Wednesday, the Sindh Rangers had taken stern action against its officials, who were hand in glove with the bike lifte
Published 10 Nov, 2011 12:00am
UNGA adopts Pakistan's draft reaffirming self-determination right

UNGA adopts Pakistan's draft reaffirming self-determination right

A committee of the UN General Assembly on Wednesday adopted a Pakistan-sponsored resolution reaffirming that the universal realisation of the right of peoples to self-determination was a fundamental condition for the effective guarantee and observance of
Published 10 Nov, 2011 12:00am
Drone strikes must stop: US lawyer

Drone strikes must stop: US lawyer

Prominent international human rights lawyer Clive Stafford Smith was impressed by the 16-year-old boy who wanted to draw attention to civilian deaths caused by US drone strikes in Pakistan. Tariq Aziz had volunteered to take pictures of people killed by t
Published 10 Nov, 2011 12:00am
Floods response: Spain provides euros 500,000 to Unicef

Floods response: Spain provides euros 500,000 to Unicef

Spain has provided euros 500,000 to Unicef for water, sanitation and hygiene emergency response after the devastation caused by 2011 floods, affecting up to 5.4 million people. Dan Rohrmann, Unicef Pakistan Representative said with the water receding in m
Published 10 Nov, 2011 12:00am
Demonstration against killing of Hindu doctors held

Demonstration against killing of Hindu doctors held

A large number of people hailing from Hindu community, rights activists and civil society organisations held demonstration outside Swami Narain temple at Bandar Road Karachi on Wednesday to condemn assassination of four persons of minority community inclu
Published 10 Nov, 2011 12:00am
PIMA condemns killing of doctors in Shikarpur

PIMA condemns killing of doctors in Shikarpur

The Pakistan Islamic Medical Association (PIMA) Sindh has condemned the killing of doctors in Shikarpur. Dr Abdul Aziz Memon, President of PIMA Sindh in a statement on Wednesday urged the government to ensure protection of doctors and paramedics against v
Published 10 Nov, 2011 12:00am
Sindh chief minister expresses grief

Sindh chief minister expresses grief

Chief Minister of Sindh, Syed Qaim Ali Shah has expressed his deep grief over the killing of three doctors and another of their companion in Shikarpur. According to a handout issued on Wednesday the Chief Minister has directed the Inspector General of Pol
Published 10 Nov, 2011 12:00am
Saarc effectiveness enhanced with Pak-India dialogue: Prime Minister

Saarc effectiveness enhanced with Pak-India dialogue: Prime Minister

Prime Minister Yousuf Raza Gilani said here on Sunday that importance and effectiveness of Saarc forum had increased due to onging process of dialogue between Pakistan and India. He was talking to the media prior to departure for Maldives on a three-day v
Published 10 Nov, 2011 12:00am
Roadmap for PIA restructuring

Roadmap for PIA restructuring

Prime Minister Yousuf Raza Gilani reportedly rejected Pakistan International Airlines (PIA) request for 20 billion rupees without a clear roadmap for restructuring its administrative and financial management. The Business Recorder fully supports
Published 10 Nov, 2011 12:00am
Another day of shame

Another day of shame

From that fateful Sunday at Lords' on August 29 last year, when shocks jolted the entire cricket fraternity as the spot-fixing reports appeared in the now defunct News of the World, the four accused finally met their fate. Former Pakistan captain Salman B
Published 10 Nov, 2011 12:00am
Retired judges in labour judiciary

Retired judges in labour judiciary

There has been provision in the Industrial Relations Ordinance 1969, Industrial Relations Ordinance 2002, Industrial Relations Act 2008 and now in Punjab Industrial Relations Ordinance 2010 for appointment of retired high court or Supreme Court judges as
Published 10 Nov, 2011 12:00am
IMF head seeks help in China, Japan for euro rescue

IMF head seeks help in China, Japan for euro rescue

International Monetary Fund chief Christine Lagarde was to arrive Wednesday in China on her world-wide quest to secure more backing to bailout the crisis-ridden eurozone. On her upcoming visits to China and Japan, following her departure Tuesday from Russ
Published 10 Nov, 2011 12:00am
'Chocolate and cactus'

'Chocolate and cactus'

Freedom of expression is a basic human right that cannot be ignored. In conservative countries, such expression is considered a threat. Psychologically speaking, if thoughts and feelings do not get appropriate outlet, then emotional turbulence sets in and
Published 10 Nov, 2011 12:00am
Cricket guilty

Cricket guilty

Pakistani cricketers Salman Butt and Mohammad Asif were found guilty of fixing parts of a Test against England in a case that has thrown the credibility of the international game into doubt. Former Test captain Butt, 27, and fast bowler Asif, 28, face jai
Published 10 Nov, 2011 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Spot gold rose on Wednesday as investors flocked to safety on doubts about Italy's ability to push economic reform, and that eurozone leaders could be too late to pull the region's fettering debt crisis out of a tailspin. Bullion rose as global stock mark
Published 10 Nov, 2011 12:00am
US MIDDAY: copper sinks

US MIDDAY: copper sinks

Copper slumped to a two-week low Wednesday as the dollar rallied and the cost of Italian bonds soared to dangerously high levels, underscoring weaker global growth prospects and fears of curbed metals demand. In New York, the key December COMEX contract s
Published 10 Nov, 2011 12:00am
US MIDDAY: corn trims losses

US MIDDAY: corn trims losses

US corn futures trimmed early losses and briefly turned higher at midday on Wednesday in tandem with the dollar trimming its day's gain after surging on safe-haven buying sparked by the European debt crisis. The US Agriculture Department slashed its forec
Published 10 Nov, 2011 12:00am
Gold rises in London

Gold rises in London

Gold edged higher on Wednesday on persistent doubts about Italy's ability to tackle its growing debt crisis as political uncertainty and soaring Italian bond yields prompted caution among investors. Italian Prime Minister Silvio Berlusconi, viewed by many
Published 10 Nov, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold steadied on Wednesday on fears the eurozone debt crisis could engulf Italy even after Prime Minister Silvio Berlusconi said he would resign, paving the way for a new leader to act more aggressively to tackle the country's debt problems.
Published 10 Nov, 2011 12:00am
US gold retreats

US gold retreats

Gold fell on Tuesday after trading above $1,800 an ounce for the first time in seven weeks, as news that Italian Prime Minister Silvio Berlusconi would resign improved the picture for of eurozone investment risk. Spot gold rose 0.7 percent to fetch $1,782
Published 10 Nov, 2011 12:00am
London cocoa at two-year low

London cocoa at two-year low

Soft commodity markets were pummelled across the board on Wednesday after a spike in Italian bond yields shoved the dollar up as the ripples from Europe's debilitating debt crisis deflated the complex. London cocoa values dove to their lowest in over two
Published 10 Nov, 2011 12:00am
US corn rises to three-week high

US corn rises to three-week high

US grain futures rose more than 1 percent on Tuesday, with corn notching a near three-week high and wheat up for the fourth straight day, buoyed by a weak dollar ahead of a closely-watched government crop report. An announcement late in the session that I
Published 10 Nov, 2011 12:00am
Palm oil slips

Palm oil slips

Malaysian palm oil futures slipped off seven-week highs on Wednesday ahead of a key industry report that is expected to show stocks rising to a 22-month high last month. Losses were limited on an expected cut in yield estimates for the US soy crop crushed
Published 10 Nov, 2011 12:00am
Tokyo and Shanghai rubber down

Tokyo and Shanghai rubber down

Key Tokyo rubber futures fell 3.3 percent on Wednesday to their lowest since August 2010 as economic uncertainty and continuing worries about flooding in Thailand weighed, while the yen's advance and high rubber inventories also eroded investor confidence
Published 10 Nov, 2011 12:00am
Crude oil futures slump over two percent

Crude oil futures slump over two percent

Crude oil futures slumped more than 2 percent Wednesday as Europe's debt crisis worsened, outweighing US government data that showed unexpectedly large drawdowns in domestic crude and product stockpiles. Crude futures fell sharply in early trade after Ita
Published 10 Nov, 2011 12:00am
Copper declines

Copper declines

Copper fell to its lowest since late October on Wednesday on a stronger dollar and worries that a potential political deadlock in Italy and a possible debt crisis could rise Europe into recession. Three-month copper on the London Metal Exchange fell to a
Published 10 Nov, 2011 12:00am
US copper recovers

US copper recovers

Copper pushed back into positive territory late on Tuesday, tracking a recovery in the euro versus the dollar, after Italy's president said embattled Prime Minister Silvio Berlusconi will resign after the approval of new budget. In New York, the key Decem
Published 10 Nov, 2011 12:00am
Shanghai copper up

Shanghai copper up

The most-active January copper contract on the Shanghai Futures Exchange rose 0.2 percent to 57,970 yuan ($9,134.60) per tonne on Wednesday, after dropping 0.2 percent on Tuesday. China's production of refined copper in October rose 16.4 percent from year
Published 10 Nov, 2011 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures settled lower on Wednesday on investor sales and switch trade as macro weakness in Europe spilled into fibre contracts, although late short-covering pared losses, analysts said. The key December cotton contract on ICE Futures US fell 0.44 c
Published 10 Nov, 2011 12:00am
West seeks new Iran sanctions over nuclear report

West seeks new Iran sanctions over nuclear report

Western countries called on Wednesday for new sanctions against Iran over a UN report that it has worked to design atom bombs, but veto-wielder Russia indicated it would block new measures at the UN Security Council. The report, obtained by Reuters on Tue
Published 10 Nov, 2011 12:00am
Iran Guard says will retaliate: if leaders killed

Iran Guard says will retaliate: if leaders killed

An Iranian semi-official news agency says that a top commander in the country's Revolutionary Guard force has threatened to kill "dozens" of American military commanders, should the US kill any one of theirs.
Published 10 Nov, 2011 12:00am
First euthanasia in Netherlands of severe dementia victim

First euthanasia in Netherlands of severe dementia victim

A woman with advanced Alzheimer's disease has been euthanised in the Netherlands, a first in a country that requires patients to be fully mentally alert to request to die, activists said Wednesday. The 64-year-old woman died in March after being sick "for
Published 10 Nov, 2011 12:00am
UK to abstain from UN vote on Palestinian state

UK to abstain from UN vote on Palestinian state

Foreign Secretary William Hague said Thursday Britain would abstain from a vote in the UN Security Council on Palestinian membership of the United Nations. "In common with France and in consultation with our European partners, the United Kingdom will abst
Published 10 Nov, 2011 12:00am
Russian craft on Mars mission stuck in orbit

Russian craft on Mars mission stuck in orbit

A Russian spacecraft designed to bring back soil samples from one of the moons of Mars veered off course on Wednesday after its launch, clouding hopes Russia could pull off its first interplanetary mission in more than two decades. Russian space agency ch
Published 10 Nov, 2011 12:00am
Group seeks to 'unleash holy war in Kazakhstan'

Group seeks to 'unleash holy war in Kazakhstan'

A Kazakh radical group that claimed credit for two blasts in an energy-rich city of Kazakhstan seeks to "unleash jihad" in the ex-Soviet nation, a prosecutor said Monday. "The investigation has confirmed the organisation Soldiers of the Caliphate's compli
Published 10 Nov, 2011 12:00am
14 dead as Niger clashes with convoy from Libya

14 dead as Niger clashes with convoy from Libya

Niger's army has clashed with a heavily armed convoy of vehicles that entered its territory from Libya, killing 13 in the convoy and suffering one casualty on its side, military sources in the West African country said on Wednesday. The sources said Niger
Published 10 Nov, 2011 12:00am
Former German minister jailed for fraud

Former German minister jailed for fraud

A former German government minister who lived as a fugitive for years and was at the centre of a bribery scandal was sentenced to 4-1/2 years in prison on Wednesday for fraud. A court in the southern city of Augsburg sentenced Ludwig-Holger Pfahls, once j
Published 10 Nov, 2011 12:00am
US military adds armed robotic helicopters to fleet

US military adds armed robotic helicopters to fleet

The US military plans to add a new lethal drone to its fleet - a robotic helicopter for the US Navy equipped with laser-guided rockets, defence giant Northrop Grumman said Wednesday. The armed Fire Scouts will mark a new era in naval warfare, offering an
Published 10 Nov, 2011 12:00am
Obama launches crusade against 'swag'

Obama launches crusade against 'swag'

US President Barack Obama on Wednesday ordered an end to government "swag" - the treasure trove of freebies including mugs and clothing doled out at government events and conferences. And in move making life a little less cushy for government workers, the
Published 10 Nov, 2011 12:00am
US hands over massive base to Iraq

US hands over massive base to Iraq

US forces have handed Joint Base Balad, which was once one of the world's busiest airports and housed some 36,000 personnel, over to Iraqi control, a US military spokesman said on Wednesday. "We handed over Joint Base Balad (JBB) yesterday," the spokesman
Published 10 Nov, 2011 12:00am
Hollywood comedy writer Hal Kanter dies

Hollywood comedy writer Hal Kanter dies

Hal Kanter, an Emmy-winning comedy master who wrote for Bob Hope and Bing Crosby, directed Elvis Presley in "Loving You" and created Diahann Carroll's ground-breaking TV sitcom, has died. He was 92. Kanter died Sunday, according to the Writers Guild of Am
Published 10 Nov, 2011 12:00am
USS Cole bomb suspect arraigned at Guantanamo

USS Cole bomb suspect arraigned at Guantanamo

The main suspect in the USS Cole bombing was formally arraigned Wednesday at Guantanamo in the first such case since US President Barack Obama reversed course and ordered controversial military trials to resume. Saudi-born Abd al-Rahim al-Nashiri, 46, who
Published 10 Nov, 2011 12:00am
Pakistan, Sri Lanka revive One-day rivalry

Pakistan, Sri Lanka revive One-day rivalry

Pakistan and Sri Lanka open their rivalry in limited overs cricket as the five-match One-day series, which begins here from Friday promises fierce competition from two talented sides. Pakistan won the preceding three-Test series 1-0, but their captain Mis
Published 10 Nov, 2011 12:00am
Marsh, Mohsin comfortable with ODI rule changes

Marsh, Mohsin comfortable with ODI rule changes

Rival coaches Geoff Marsh and Mohsin Khan said they were comfortable with the change in rules as Pakistan and Sri Lanka play under them for the first time in the opening day-night match here on Friday. Teams will have to start the batting and bowling Powe
Published 10 Nov, 2011 12:00am
Djokovic, Murray fighting fit at Paris Masters

Djokovic, Murray fighting fit at Paris Masters

Top seeds Novak Djokovic and Andy Murray both shrugged off injury concerns to sweep into the third round of the Paris Masters at Bercy Arena here on Wednesday. Djokovic's participation in the year's penultimate event, which he won in 2009, had been cast i
Published 10 Nov, 2011 12:00am
Clarke century thwarts Steyn

Clarke century thwarts Steyn

Australian captain Michael Clarke hit an aggressive century to cancel out some superb fast bowling by South Africa's Dale Steyn on the first day of the first Test at Newlands here on Wednesday. Clarke hit 107 not out in an Australian total of 214 for eigh
Published 10 Nov, 2011 12:00am
Afridi ready to hit turbulent period for a six

Afridi ready to hit turbulent period for a six

Recalled Pakistan allrounder Shahid Afridi Tuesday showed confidence to hit his turbulent past six months for a big six, saying he wants to perform for the country and his fans. The 31-year-old all-rounder was recalled in Pakistan squad for the five-match
Published 10 Nov, 2011 12:00am
Chile ban five players for late, drunken return

Chile ban five players for late, drunken return

Chile kicked five players out of their 2014 World Cup qualifying squad after they returned late and drunk from an evening off, coach Claudio Borghi said on Wednesday. The players had been given time off from midday to 10 pm on Tuesday, after morning train
Published 10 Nov, 2011 12:00am
Tendulkar, Laxman guide India to victory

Tendulkar, Laxman guide India to victory

Sachin Tendulkar missed out on an unprecedented 100th international century before India raced to a comfortable five-wicket win over the West Indies in the opening Test on Wednesday. The master batsman scored a solid 76 and Venkatsai Laxman made a stylish
Published 10 Nov, 2011 12:00am
British Prime Minister wades into poppies row

British Prime Minister wades into poppies row

British Prime Minister David Cameron waded into the row about England's bid to wear commemorative poppies on their shirts on Wednesday, describing a FIFA ban on the gesture as "outrageous." The English FA had requested to be allowed to put poppies on the
Published 10 Nov, 2011 12:00am
Putin slams 'arrogant world powers'

Putin slams 'arrogant world powers'

Russian Prime Minister Vladimir Putin lashed out Monday at "arrogant world powers" as he hosted his Chinese counterpart Wen Jiabao for a regional security summit Moscow bills as a counterpart to Nato. Russia's likely new head of state after next year's pr
Published 10 Nov, 2011 12:00am
Ohio union victory boosts Obama's hopes for 2012

Ohio union victory boosts Obama's hopes for 2012

An electoral victory for union rights in Ohio gave Democrats hope on Wednesday that President Barack Obama could win the battleground state in 2012, although results from votes nation-wide had mixed messages for both parties. Ohio voters struck down a law
Published 10 Nov, 2011 12:00am
Scientists find big chink in malaria's armour

Scientists find big chink in malaria's armour

Researchers said Wednesday they had discovered a unique microscopic channel through which malaria parasites must pass to infect red blood cells, a finding that opens up a highly promising target for a vaccine. The doorway mechanism is common to all known
Published 10 Nov, 2011 12:00am
Syrian soldiers defecting in increasing numbers: UN

Syrian soldiers defecting in increasing numbers: UN

An increasing number of Syrian soldiers are defecting to the opposition, raising the risk of a Libyan-style civil war in Syria, UN human rights chief Navi Pillay said on Wednesday. "Where basic human rights are trampled and peaceful demands for change met
Published 10 Nov, 2011 12:00am
Syrian forces kill 12 more civilians

Syrian forces kill 12 more civilians

Syrian troops killed 12 civilians on Wednesday, five of whom were attending a funeral in Damascus and were caught up in the regime's continuing crackdown on dissent, a human rights group said. Starting at dawn, when the crackle of gunfire could be heard s
Published 10 Nov, 2011 12:00am
Chinese-American in lead for San Francisco mayor

Chinese-American in lead for San Francisco mayor

A former city official is tipped to become the first Chinese-American elected mayor of San Francisco, after first-round results put him in the lead Wednesday. Interim mayor Ed Lee won nearly 31 percent after voting Tuesday, ahead of second-placed city sup
Published 10 Nov, 2011 12:00am
US charges seven in suspected Internet ad fraud scam

US charges seven in suspected Internet ad fraud scam

US authorities on Wednesday charged seven people living in Estonia and Russia with using malicious software to hijack millions of computers world-wide to redirect Internet searches toward online ads. Starting in 2007, the suspects created fake companies t
Published 10 Nov, 2011 12:00am
UN sees violent Congo election as police take sides

UN sees violent Congo election as police take sides

Political manipulation of Congo's security forces has brought crackdowns on opposition parties and may lead to bloodshed in this month's election, the United Nations said in a report on Wednesday. New York based-Human Rights Watch said the UN report docum
Published 10 Nov, 2011 12:00am
Warming limit risk if no climate action by 2017: IEA

Warming limit risk if no climate action by 2017: IEA

The world may not be able to limit global temperature rise to safe levels if new international climate action is not taken by 2017, as so many fossil fuel power plants and factories are being built, the International Energy Agency said on Wednesday. If th
Published 10 Nov, 2011 12:00am
Hub Power Company Limited

Hub Power Company Limited

Hub Power Company Limited (HUBCO) was established in August 1991, as a public limited company under the Companies Ordinance, 1984. It is listed on all three stock exchanges of the country. In addition to this, HUBCO's Global Depository Receipts (GDRs) are
Published 10 Nov, 2011 12:00am
Hub Power Company Limited

Hub Power Company Limited

Hub Power Company Limited (HUBCO) was established in August 1991, as a public limited company under the Companies Ordinance, 1984. It is listed on all three stock exchanges of the country. In addition to this, HUBCO's Global Depository Receipts (GDRs) are
Published 10 Nov, 2011 12:00am
Sterling rallies versus euro

Sterling rallies versus euro

Sterling rose to an eight-month high against a broadly weak euro on Wednesday after benchmark Italian bond yields rose to levels widely deemed unsustainable, taking the euro debt crisis to new levels. However, the pound fell against the dollar, dragged do
Published 10 Nov, 2011 12:00am
Yuan hits trading peak

Yuan hits trading peak

The yuan touched a record trading high against the dollar on Wednesday, playing catch-up with the Chinese central bank's mid-point, but the currency closed off the high amid caution over its potential to appreciate in the future, traders said. The People'
Published 10 Nov, 2011 12:00am
Swiss franc lower versus dollar

Swiss franc lower versus dollar

The Swiss franc tracked the euro lower against the dollar on Wednesday as both currencies gave up some of Tuesday's gains which came after Italian Prime Minister Silvio Berlusconi pledged to resign following the approval of a new budget law. Some analysts
Published 10 Nov, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 76.35-76.39 (previous 76.2850-76.3500). Call Money Rates: 20.00/21.00 percent (previous 21.00-21.00 percent).
Published 10 Nov, 2011 12:00am
Australian and New Zealand dollars soften

Australian and New Zealand dollars soften

The Australian and New Zealand dollars struggled to extend gains on Wednesday after data from China showed inflation cooled in October as expected, but was still too high to spur a cut in Chinese interest rates. The fortunes of both Australia and New Zeal
Published 10 Nov, 2011 12:00am
Won, ringgit move higher

Won, ringgit move higher

The won and the ringgit rose on Wednesday after Italy's prime minister's pledged to resign, but gains in emerging Asian currencies were limited by profit taking as investors worried over the prospect of prolonged political uncertainty in the debt-ridden e
Published 10 Nov, 2011 12:00am
Indian rupee jumps

Indian rupee jumps

The Indian rupee posted its biggest single-day loss in a month and half on Wednesday, hurt by broad dollar gains against major currencies, while weak local shares bogged down by a Moody's downgrade of the banking system also added to the downward bias. Th
Published 10 Nov, 2011 12:00am
Euro rises versus dollar in New York

Euro rises versus dollar in New York

The euro rose against the dollar on Tuesday after Italian Prime Minister Silvio Berlusconi said he will resign after the new budget law is approved, but the rally could be short-lived. The news encouraged euro bulls, who had seen the departure of the 75-y
Published 10 Nov, 2011 12:00am
Euro falls versus dollar, yen in London

Euro falls versus dollar, yen in London

The euro fell against the safe-haven US dollar and Japanese yen on Wednesday as the eurozone's escalating debt crisis saw investors such as macro funds step up sales of the single currency after Italy's 10-year bond yield hit 7 percent. The swift rise in
Published 10 Nov, 2011 12:00am
Early trade in New York: euro sinks to one-month low

Early trade in New York: euro sinks to one-month low

The euro plummeted to a one-month low against the dollar on Wednesday and could well fall further on fears Italy, the eurozone's third-largest economy, may seek a bailout to avoid a debt default. Italian borrowing costs topped seven percent as investors d
Published 10 Nov, 2011 12:00am
Euro fights resistance in Asia

Euro fights resistance in Asia

The euro fought stiff chart resistance on Wednesday following a rally after Italy's premier said he would resign, but its outlook remained gloomy amid the political turmoil engulfing both Greece and Italy, with those countries' borrowing costs showing no
Published 10 Nov, 2011 12:00am
Money markets: Italian troubles seen boosting banks' ECB reliance

Money markets: Italian troubles seen boosting banks' ECB reliance

A decision by two key clearing houses on Wednesday will make it more expensive for European banks to use Italian bonds as collateral to borrow in the secured-lending market, potentially increasing their reliance on ECB funding. The cost of using Italian b
Published 10 Nov, 2011 12:00am
FTSE sinks

FTSE sinks

Britain's top shares sank to their lowest close for a week on Wednesday on spiralling concerns over Italy's debt as the country's bond yields raced to dangerous levels. The UK benchmark closed down 106.96 points, or 1.9 percent, at 5,460.38, its lowest cl
Published 10 Nov, 2011 12:00am
European shares tumble

European shares tumble

European shares fell on Wednesday as rising tensions around Italy's debt situation pushed its bond yields into the danger zone, hitting riskier assets across the board and sending shares in financials sharply lower. After rallying at the open on news Prim
Published 10 Nov, 2011 12:00am
Seoul shares edge up

Seoul shares edge up

Seoul shares finished up 0.2 percent on Wednesday but rises were capped by pervading caution on Europe and falls in technology stocks like Hynix Semiconductor and LG Display. The KOSPI's 120-day moving average is around 1,950 points. Foreign investors wer
Published 10 Nov, 2011 12:00am
Hong Kong, Shanghai shares soar

Hong Kong, Shanghai shares soar

Hong Kong and Shanghai shares closed higher as signs that price pressures in China are letting up raised hopes that Beijing will make some moves to ease monetary policy. Still, Wednesday's volumes remained light, suggesting investors remain wary. The Hang
Published 10 Nov, 2011 12:00am
Indian shares fall 1.2 percent

Indian shares fall 1.2 percent

Indian shares fell 1.2 percent on Wednesday, with State Bank of India, the country's top lender, falling the most in nearly six months, after a rise in non-performing assets hit investor confidence. Financials led the decline after ratings agency Moody's
Published 10 Nov, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Tuesday, giving up earlier gains, after news Italian Prime Minister Silvio Berlusconi will resign sparked renewed risk taking and reduced the appeal of safe-haven government bonds. Berlusconi, speaking on television, confirmed
Published 10 Nov, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries prices fell on Tuesday, giving up earlier gains, after news Italian Prime Minister Silvio Berlusconi will resign sparked renewed risk taking and reduced the appeal of safe-haven government bonds. Berlusconi, speaking on television, confirmed
Published 10 Nov, 2011 12:00am
Some Southeast Asian markets rise

Some Southeast Asian markets rise

Some Southeast Asian stock markets posted gains on Wednesday, led by big caps and commodities-related stocks, but buying interest generally weakened as investors waited to see how the debt crisis in Europe would develop. Risk appetite has been improving i
Published 10 Nov, 2011 12:00am
US stocks move up

US stocks move up

US stocks closed higher on Tuesday for a second day in a row as late-day news about Europe sparked an afternoon rally that erased early weakness. Italy's president said Silvio Berlusconi, the country's prime minister, would resign after a new budget law w
Published 10 Nov, 2011 12:00am
NYSE braces for big move at the open

NYSE braces for big move at the open

The New York Stock Exchange and NYSE Amex Cash Markets on Wednesday invoked a rule to smooth trading at the market open as futures tumbled following a spike in Italian bond yields. Invoking rule 48 allows the exchange to suspend price indications that hel
Published 10 Nov, 2011 12:00am
Nikkei average climbs

Nikkei average climbs

The Nikkei stock average rose on Wednesday following news that Italy's prime minister would resign, paving the way for austerity reforms to ease the eurozone's debt crisis, while scandal-hit Olympus Corp skidded another 20 percent after it admitted it hid
Published 10 Nov, 2011 12:00am
Qatar stock charts bullish after breaking resistance

Qatar stock charts bullish after breaking resistance

Qatar's stock market could break above its recent trading range as soon as next week if global markets, still vulnerable to the euro zone debt crisis, do not fall sharply, analysts say. The Qatar market, reopening on Wednesday after long Eid holidays, cli
Published 10 Nov, 2011 12:00am
World on cusp of liquidity retrenchment: FSB boss

World on cusp of liquidity retrenchment: FSB boss

The new global financial regulatory policeman, Mark Carney, warned on Tuesday the world was "on the cusp of another retrenchment" in liquidity and urged careful management of European bank recapitalization. In his first speech as head of the Financial Sta
Published 10 Nov, 2011 12:00am
Russia opens Baltic pipeline that skirts Ukraine

Russia opens Baltic pipeline that skirts Ukraine

Russia opened what will be the biggest post-Soviet era natural gas pipeline to Europe on Tuesday, saying it would help reduce the risk of supply disruptions even though it threatens to aggravate political divisions on the continent. At a ceremony on Germa
Published 10 Nov, 2011 12:00am
China Unicom, Telecom hit by monopoly probe

China Unicom, Telecom hit by monopoly probe

China's top economic planning agency is investigating China Unicom (Hong Kong) Ltd and China Telecom Corp Ltd for monopoly violations, the first such probe since it implemented its anti-monopoly law in 2008. The National Development and Reform Commission
Published 10 Nov, 2011 12:00am
Olympus admits hid losses for two decades

Olympus admits hid losses for two decades

Japan's Olympus admitted on Tuesday it hid losses on securities investments dating back two decades, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The revelations by the 92-year-old
Published 10 Nov, 2011 12:00am
US appeals court backs Obama healthcare law

US appeals court backs Obama healthcare law

President Barack Obama's signature healthcare law got a boost on Tuesday when a US appeals court agreed with a lower court that dismissed a challenge and found the law's minimum coverage requirement was constitutional. The US Appeals Court for the Distric
Published 10 Nov, 2011 12:00am
Bank of France sees economy stalling in fourth quarter

Bank of France sees economy stalling in fourth quarter

The French economy will stagnate in the last quarter of the year, the Bank of France said on Wednesday, the latest sign it is losing momentum as fiscal austerity and Europe's debt crisis depress private sector activity. The forecast, the central bank's fi
Published 10 Nov, 2011 12:00am
Airbus lead widens as neo sales hit 1,000

Airbus lead widens as neo sales hit 1,000

Sales of Airbus' revamped A320neo topped 1,000 as the European planemaker extended its lead over Boeing in the annual tug-of-war for jetliner sales, figures showed on Tuesday. Toulouse-based Airbus said it had won a total of 1,372 orders between January a
Published 10 Nov, 2011 12:00am
Credit Suisse asked to hand over US client data

Credit Suisse asked to hand over US client data

Credit Suisse will hand over details of wealthy Americans with hidden Swiss accounts to the Swiss government, bringing US authorities one step closer to obtaining names of alleged tax cheats. The bank said on Tuesday it was complying with a request from t
Published 10 Nov, 2011 12:00am
Sri Lankan parliament approves asset acquisition act

Sri Lankan parliament approves asset acquisition act

Sri Lanka's parliament on Wednesday empowered the government to take over assets of 37 firms including two listed companies, amidst strong protest from the opposition and the island nation's business chambers. The asset acquisition bill allows the governm
Published 10 Nov, 2011 12:00am
Tookey takes Lloyds reins

Tookey takes Lloyds reins

Tim Tookey is supposed to be in wind-down mode. Yet the departing finance chief of Lloyds has been thrust into action to run Britain's biggest retail bank after his boss signed off sick six days ago. The shock temporary departure of Chief Executive Antoni
Published 10 Nov, 2011 12:00am
Opec holds demand view, signals steady supply

Opec holds demand view, signals steady supply

Opec expects world oil supplies to remain ample during the northern hemisphere winter and keep a lid on oil prices, indicating the producer group is unlikely to make major changes to output at a meeting next month. In a monthly report, the Organisation of
Published 10 Nov, 2011 12:00am
S&P confirms top credit ratings for Finland

S&P confirms top credit ratings for Finland

The international credit rating agency Standard and Poor's on Wednesday reaffirmed a top credit rating for Finland, citing its strong public finances and stable economic outlook. "The ratings on the Republic of Finland reflect our view of the country's co
Published 10 Nov, 2011 12:00am
Dubai-based investor fined record $9.6 million by FSA

Dubai-based investor fined record $9.6 million by FSA

A Dubai-based private investor has been fined a record $9.6 million for manipulating the securities of Indian refining giant Reliance Industries on the London Stock Exchange as the UK regulator stretches overseas to curb market abuse. Britain's Financial
Published 10 Nov, 2011 12:00am
Record trade deficit adds to Britain's economic woes

Record trade deficit adds to Britain's economic woes

A record trade deficit, falling employment and a sharp slowdown in shop price inflation reinforced fears that Britain is fast heading for another downturn as the eurozone debt crisis escalates. Wednesday's data came after the Confederation of British Indu
Published 10 Nov, 2011 12:00am
Fannie Mae's loss jumps in third quarter

Fannie Mae's loss jumps in third quarter

US mortgage giant Fannie Mae lost nearly $5.1 billion in the third quarter, a 76 percent rise from the previous quarter and nearly four times the year-earlier period, the company reported Tuesday. The state-owned housing lender said it would ask the US Tr
Published 10 Nov, 2011 12:00am
Fannie Mae's loss jumps in third quarter

Fannie Mae's loss jumps in third quarter

US mortgage giant Fannie Mae lost nearly $5.1 billion in the third quarter, a 76 percent rise from the previous quarter and nearly four times the year-earlier period, the company reported Tuesday. The state-owned housing lender said it would ask the US Tr
Published 10 Nov, 2011 12:00am
Toyota profit hit by Thai floods, withdraws outlook

Toyota profit hit by Thai floods, withdraws outlook

Toyota Motor Corp withdrew its full-year profit outlook on Tuesday as Thai floods pose a fresh threat to production just as it was recovering from supply shortages that battered profits after the March earthquake in Japan. Japan's largest automaker reaffi
Published 10 Nov, 2011 12:00am
Toyota recalls 420,000 US vehicles

Toyota recalls 420,000 US vehicles

Toyota Motor Co will recall more than 420,000 vehicles in the United States to replace an engine component that could trigger steering problems, the automaker said on Wednesday. Models involved include Toyota branded Camry sedan, Solara coupe, Highlander
Published 10 Nov, 2011 12:00am
China's inflation, output create room for pro-growth steps

China's inflation, output create room for pro-growth steps

Chinese industrial output grew at its weakest annual pace in a year in October and inflation fell sharply, raising expectations Beijing will do more to support economic growth by "fine tuning" policy. A flurry of data on Wednesday showed that China's fact
Published 10 Nov, 2011 12:00am
Russian deal with Georgia opens way to WTO

Russian deal with Georgia opens way to WTO

Russia signed a Swiss-brokered deal with Georgia on Wednesday that removes the last big obstacle to Russia joining the World Trade Organisation after 18 years of negotiations. Russia's accession will be the biggest step in world trade liberalisation since
Published 10 Nov, 2011 12:00am
Souring bank loans, car sales fuel India's economic gloom

Souring bank loans, car sales fuel India's economic gloom

India's economic gloom deepened on Wednesday as worsening loan quality at the country's biggest lender rattled investors, Moody's downgraded its outlook for banks, and October car sales skidded 24 percent, their worst drop in over a decade. The central ba
Published 10 Nov, 2011 12:00am
Russia rules out direct EU rescue funds outside IMF

Russia rules out direct EU rescue funds outside IMF

President Dmitry Medvedev's top economic adviser said on Wednesday that Russia was not prepared to invest directly in the EU rescue fund and would prefer to help the eurozone through the IMF. "We are not yet prepared to examine possible direct participati
Published 10 Nov, 2011 12:00am
Russia rules out direct EU rescue funds outside IMF

Russia rules out direct EU rescue funds outside IMF

President Dmitry Medvedev's top economic adviser said on Wednesday that Russia was not prepared to invest directly in the EU rescue fund and would prefer to help the eurozone through the IMF. "We are not yet prepared to examine possible direct participati
Published 10 Nov, 2011 12:00am
GM profit falls, shares tumble on weak outlook

GM profit falls, shares tumble on weak outlook

General Motors Co posted a third-quarter profit that fell 15 percent after a loss in Europe and forecast that operating profit in the current quarter would be flat from a weak fourth quarter in 2010. GM vowed to slash costs and complexity to shore up marg
Published 10 Nov, 2011 12:00am
GM profit falls, shares tumble on weak outlook

GM profit falls, shares tumble on weak outlook

General Motors Co posted a third-quarter profit that fell 15 percent after a loss in Europe and forecast that operating profit in the current quarter would be flat from a weak fourth quarter in 2010. GM vowed to slash costs and complexity to shore up marg
Published 10 Nov, 2011 12:00am
Zardari vows action against Haqqanis

Zardari vows action against Haqqanis

President Asif Ali Zardari has promised to work with the United States to ``eradicate' the militant Haqqani network. President made the pledge during a conversation with visiting American lawmakers to Pakistan. Homeland Security delegation head Michael Mc
Published 10 Nov, 2011 12:00am
Zardari vows action against Haqqanis

Zardari vows action against Haqqanis

President Asif Ali Zardari has promised to work with the United States to ``eradicate'' the militant Haqqani network. President made the pledge during a conversation with visiting American lawmakers to Pakistan. Homeland Security delegation head Michael M
Published 10 Nov, 2011 12:00am
Jailed Salman Butt appeals against sentence

Jailed Salman Butt appeals against sentence

Former cricket captain Salman Butt has filed an appeal against a 30-month prison sentence for fixing parts of a test match last year, his lawyer said. Butt and bowlers Mohammad Asif and Mohammad Aamer were jailed last week for their part in a gambling-ins
Published 10 Nov, 2011 12:00am
Jailed Salman Butt appeals against sentence

Jailed Salman Butt appeals against sentence

Former cricket captain Salman Butt has filed an appeal against a 30-month prison sentence for fixing parts of a test match last year, his lawyer said. Butt and bowlers Mohammad Asif and Mohammad Aamer were jailed last week for their part in a gambling-ins
Published 10 Nov, 2011 12:00am
Merkel calls for 'new Europe': Berlusconi's Italy at breaking point

Merkel calls for 'new Europe': Berlusconi's Italy at breaking point

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's insistence on elections instead of an interim government opened the way to prolonged instability and delays to long-promised economic reforms.
Published 10 Nov, 2011 12:00am
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