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Archive - 2011-11-15
Europe shares turn positive
Financial

Europe shares turn positive

PARIS: European stocks trimmed their losses and turned positive on Tuesday, while US shares pushed higher in early trade
Published 15 Nov, 2011 02:48pm
Separate EDF likely for textile industry
Top News

Separate EDF likely for textile industry

TAHIR AMIN ISLAMABAD : The government is likely to establish a separate Export Development Fund (EDF) for textile ind
Published 15 Nov, 2011 04:48am
Set the priority right
BR Research

Set the priority right

With the change in the weather from summer to winter; the focus is now starting to shift from power to gas, but load shedding remains an all
Published 15 Nov, 2011 12:00am
Bank AL Habib senior citizen account

Bank AL Habib senior citizen account

AL Habib Senior is a Monthly Savings Account for Senior Citizens of 60 years and above to provide convenience and financial independence at old age. The account offers high monthly return ie 10 percent p.a. and no restrictions to withdraw funds. Besides,
Published 15 Nov, 2011 12:00am
Training workshop on 'tools in writing research' held

Training workshop on 'tools in writing research' held

National Center of Excellence in Analytical Chemistry (NCEAC) Sindh University (SU) has organised one day training workshop on tools in writing research reports here on Monday. The workshop was attended by faculty members from the teaching institutes and
Published 15 Nov, 2011 12:00am
Six kidnappers held, 4 hostages recovered

Six kidnappers held, 4 hostages recovered

The Anti Violence Crime Cell (AVCC) claimed to have arrested six alleged kidnappers and recovered four hostages on Monday. Speaking at a press conference, AVCC Chief SP Ghulam Subhani said that all four hostages were recovered and their kidnappers were ar
Published 15 Nov, 2011 12:00am
Full court reference held to bid farewell to Justice Gulzar

Full court reference held to bid farewell to Justice Gulzar

A full court reference was held to bid farewell to Justice Gulzar Ahmad for his elevation as a judge of Supreme Court of Pakistan with tributes by the legal fraternity at Sindh High Court (SHC) on Monday. In farewell address, Justice Gulzar Ahmad paid res
Published 15 Nov, 2011 12:00am
Doctors' killing in Shikarpur condemned

Doctors' killing in Shikarpur condemned

A large number of members of the joint action committee for peace and justice took out a protest rally against the killings of three doctors in Shikarpur. The rally marched from the Busant Hall to press club, here on Monday. The participants chanted sloga
Published 15 Nov, 2011 12:00am
Diabetes termed mother of all diseases

Diabetes termed mother of all diseases

Diabetes is the mother of all diseases which should be eliminated through vigorous campaign launched on war footing like in the case of dengue virus. The number of diabetic patients will be doubled by 2025, if proper steps and public awareness against the
Published 15 Nov, 2011 12:00am
World Diabetes Day observed

World Diabetes Day observed

World Diabetes Day on Monday was observed in Pakistan like other parts of the world in a bid to raise awareness about diabetes and its complications so that the goal of healthy society can be achieved. To mark the day free medical camps, seminars, scienti
Published 15 Nov, 2011 12:00am
Another power tariff hike and limited reforms

Another power tariff hike and limited reforms

Prime Minister Gilani has reportedly approved up to 53 percent increase in power tariff of distribution companies and cabinet ratification of the decision is expected tomorrow (Wednesday), according to a Business Recorder exclusive.
Published 15 Nov, 2011 12:00am
Pakistani prisoners in India

Pakistani prisoners in India

Friday, 11th November, heralded yet another indication of improving relations between Pakistan and India when the Supreme Court of India expressed shock over the newly discovered information that 254 Pakistani prisoners were languishing in jails of Jammu
Published 15 Nov, 2011 12:00am
Politicking

Politicking

Last week was significant in establishing that politicking had failed because, grudgingly, politicians accepted that technocrats could prove better at cleaning the mess politicians had created, sadly, in democracies all over the world. But that's just the
Published 15 Nov, 2011 12:00am
MFN status for India - its pros and cons

MFN status for India - its pros and cons

Pakistan and India are close neighbours as well as two important members of the South Asian Association for Regional Co-operation (Saarc). There are immense potential of co-operation in the sectors of trade, industry, research, technical co-operation, joi
Published 15 Nov, 2011 12:00am
Simply 'incompatible'

Simply 'incompatible'

Pakistan is being mercilessly plundered, looted and is on the verge of collapse as a viable and governable state entity. All the state institutions have systematically been decimated, deliberately by the most corrupt ruling coalition led by the PPP which,
Published 15 Nov, 2011 12:00am
High fuel adjustment charges: LESCO takes up matter with Nepra

High fuel adjustment charges: LESCO takes up matter with Nepra

The Lahore Electricity Supply Company (LESCO) has taken up the matter of high fuel adjustment charges with National Electric Power Regulatory Authority (NEPRA), as the distribution company is the highest revenue generating DISCO while its line losses are
Published 15 Nov, 2011 12:00am
'Government's textile policies failed to yield positive results'

'Government's textile policies failed to yield positive results'

Multiple difficulties and on-going energy crisis would plunge the upcountry export-oriented and labour intensive textile sector to disaster and closure of industrial units will bring joblessness causing industrial unrest and worsening law and order situat
Published 15 Nov, 2011 12:00am
'Gas crisis resulting in industries' closure'

'Gas crisis resulting in industries' closure'

Pakistan Industrial and Traders Association Front (PIAF) has held the government responsible for energy crisis and said the acute shortage of gas has brought economic activities to a grinding halt. PIAF chairman, Sohail Lashari in a statement on Monday re
Published 15 Nov, 2011 12:00am
SECP extends date of filing Form-29 to November 18

SECP extends date of filing Form-29 to November 18

The Securities and Exchange Commission of Pakistan (SECP) has extended the last date of filing Form-29 to Friday, November 18, to facilitate the corporate sector. The last date of filing Form 29 for most of the companies is November 14. This extension sha
Published 15 Nov, 2011 12:00am
'Food insecurity, adulteration playing havoc with lives of people'

'Food insecurity, adulteration playing havoc with lives of people'

Food insecurity and adulteration have not only worsened but also playing havoc with the lives of people. Keeping in view, the Punjab government is taking all tangible steps to avert a receipt of the disaster, said Punjab Law Minister Rana Sanaullah on Mon
Published 15 Nov, 2011 12:00am
'Ignoring of PPP workers creates political vacuum'

'Ignoring of PPP workers creates political vacuum'

Mian Sajid Pervez ex-MNA has said PPP's ruling elite should consider the ground realities as die-hard party workers were being ignored constantly, which has created political vacuum from which the emerging force of Pakistan Tehreek-e-Insaf (PTI) could tak
Published 15 Nov, 2011 12:00am
Punjab government to take part in IGW exposition

Punjab government to take part in IGW exposition

The Punjab government has decided to participate in International Green Week (IGW) taking place in Berlin, Germany from January 20 to 29, 2012. More than 20 companies will take part in the IGW. Around fifteen selective products of the private sector will
Published 15 Nov, 2011 12:00am
Over two-thirds of 152 boys' primary schools without non-teaching staff

Over two-thirds of 152 boys' primary schools without non-teaching staff

More than two-third of the 152 boys' primary schools in 89 districts across Pakistan are without non-teaching staff like peons, sanitary workers and security guards, according to a monitoring report issued by Free and Fair Election Network (FAFEN) on Mond
Published 15 Nov, 2011 12:00am
PFMA rejects proposed increase in wheat prices

PFMA rejects proposed increase in wheat prices

Chairman Punjab Pakistan Flour Mills Association (PFMA) Chaudhry Abdul Jabbar has said increase in wheat prices will make it impossible for poor masses to even buy flour. "Pakistan is self-sufficient in wheat production for the last three years as it is n
Published 15 Nov, 2011 12:00am
Miscreants hurl crackers in district court

Miscreants hurl crackers in district court

A low-intensity blast ripped through district court here in Dera Ghazi Khan on Monday but no causality was reported. According to police unknown miscreants hurled crackers in the district court premises which exploded with big bang. However no causality o
Published 15 Nov, 2011 12:00am
Railways to operate special trains

Railways to operate special trains

Pakistan Railway has decided to operate special trains to facilitate passengers on the eve of annual Raiwind congregation. PR administration has finalised arrangement to operate four special trains for the convenience of passenger who intend to attend the
Published 15 Nov, 2011 12:00am
AutoSoft Dynamics, Sindh Bank sign accord

AutoSoft Dynamics, Sindh Bank sign accord

AutoSoft Dynam-ics, an industry leader in bank automation IT solutions, has signed an agreement with Sindh Bank Limited to provide its robust AutoBANKER software to automate their core banking operations in over 150 branches, of which almost 50 are alread
Published 15 Nov, 2011 12:00am
NAB to hold inquiry into embezzlement cases in Railways

NAB to hold inquiry into embezzlement cases in Railways

On the directive of the Supreme Court of Pakistan, the National Accountability Bureau (NAB) will hold inquiry to determine embezzlement and misappropriation in Pakistan Railway (PR). The Chairman of NAB, Fasih Bukhari, has ordered an inquiry against the o
Published 15 Nov, 2011 12:00am
OGDCL hits another landmark oil discovery in Khyber Pakhtunkhwa

OGDCL hits another landmark oil discovery in Khyber Pakhtunkhwa

The OGDCL Operator of Nashpa Exploration Licence, together with its Joint Venture partners Pakistan Petroluem Limited (PPL) and Government Holding Private Limited (GHPL) have discovered a new hydrocarbon bearing horizon from its appraisal well Nashpa 02,
Published 15 Nov, 2011 12:00am
Government primary schools 'Corporal punishment main cause of dropouts'

Government primary schools 'Corporal punishment main cause of dropouts'

Secretary General, Foundation for Rehabilitation & Education of Special Children (FRESH) Ashba Kamran has said corporal punishment is the main cause of dropouts at the government primary schools. She said Pakistan's literacy rate is 50 percent and accordi
Published 15 Nov, 2011 12:00am
Minister for development of communication sector

Minister for development of communication sector

The Khyber-Pakhtunkhwa Minister for Science and Information Technology, Muhammad Ayub Khan, said that the socio-economic conditions of the people would be strengthened with the development of communication sector. He stated while talking to a delegation f
Published 15 Nov, 2011 12:00am
Three-day workshop on 'Dairy sciences' to begin from November 21

Three-day workshop on 'Dairy sciences' to begin from November 21

The Khyber Pakhtunkhwa Agricultural University of Peshawar, in collaboration with Livestock and Dairy Development Department, KPK, Small and Medium Enterprises Development Authority (SMEDA), and Sarhad Chamber of Commerce and Industry (SCCI) is going to o
Published 15 Nov, 2011 12:00am
IPO-Pakistan for implementing IP laws

IPO-Pakistan for implementing IP laws

Chairman Intellectual Property Organisation (IPO-Pakistan) and Member National Assembly Hameed Ullah Jan Afridi has said that priority is being given to streamline the functioning and registration process of trademarks, patents, copyright, industrial desi
Published 15 Nov, 2011 12:00am
PAF jet aircraft crashes

PAF jet aircraft crashes

A PAF jet aircraft, while on a routine training mission, crashed due to technical malfunction near Attock. The pilot was fatally injured. No loss of civilian life or property has been reported on ground. A board of inquiry has been ordered to determine th
Published 15 Nov, 2011 12:00am
Two shot dead at wedding ceremony

Two shot dead at wedding ceremony

Two persons were shot-dead when their rival group attacked them at wedding ceremony here at Shadi Khel area, police said on Monday. An official of Mulazai police station said a music function in connection with wedding ceremony of constable Jamsheed was u
Published 15 Nov, 2011 12:00am
Engineer Najeeb questions transparency of PEC elections process

Engineer Najeeb questions transparency of PEC elections process

Engineer Muhammad Najeeb Haroon has raised doubts over the transparency of the process of the scheduled elections of Pakistan Engineering Council's Governing Body. According to a press release, addressing a press conference he said the elections of PEC's
Published 15 Nov, 2011 12:00am
ANP to get landslide victory in next elections: Afrasiab

ANP to get landslide victory in next elections: Afrasiab

ANP provincial president, Afrasiab Khan Khattak has claimed that his party will get overwhelming victory in next general elections, saying that the ANP popularity is growing among masses as it always stood for amicable resolution of their problems.
Published 15 Nov, 2011 12:00am
IESCO notification

IESCO notification

According to IESCO spokesman, due to electricity maintenance/development work, the power supply of the areas fall under the following feeders would remain suspended.
Published 15 Nov, 2011 12:00am
PARTLY FACETIOUS: Denial ain't just a river in Egypt

PARTLY FACETIOUS: Denial ain't just a river in Egypt

"So did the President use Mansoor Ejaz, a US citizen of Pakistani ancestry, to send a letter to Mike Mullen requesting him to tell our Chief of Army Staff not to dismiss his government after the six to seven hours raid by US forces deep into our territory
Published 15 Nov, 2011 12:00am
Two killed over family dispute

Two killed over family dispute

Two persons were killed over family dispute in the limit of Ghouraiwala police station here on Monday, police said. Accused Nazikat Khan, resident of Heerakhel allegedly opened indiscriminate firing on his wife and father in frustration after developing f
Published 15 Nov, 2011 12:00am
Security plan chalked out during Ashura procession

Security plan chalked out during Ashura procession

City Government Karachi on Monday chalked out security plan in collaboration with religious clerics and law enforcement agencies in view of forthcoming Ashura days. Special control rooms in the Commissioner House and offices of all Deputy Commissioners of
Published 15 Nov, 2011 12:00am
Wateen, Spacecom ink $11.3 million agreement

Wateen, Spacecom ink $11.3 million agreement

Wateen Telecom has signed a three-year multi-million dollar agreement with Spacecom International, the world's foremost provider of satellite and telecommunication services. Under the US $11.3 million multi-transponder agreement, Wateen will provide Space
Published 15 Nov, 2011 12:00am
Fourth annual 'ZABMUN' conference held

Fourth annual 'ZABMUN' conference held

SZABIST Model United Nation Society (ZABMUN) in collaboration with Ministry of Youth Affairs (Government of Sindh) and United Nation Development Programme (UNDP) GEN-PROM, organised the fourth Annual International ZABMUN Conference 2011 from 10th - 13th N
Published 15 Nov, 2011 12:00am
Fifth Pakistan Microfinance Country Forum on second December

Fifth Pakistan Microfinance Country Forum on second December

The 5th Pakistan Microfinance Country Forum 2011 organised by Shamrock Conferences International in collaboration with Mazars Asia-Singapore, Tameer Microfinance Bank and Khushhali Bank Limited, will be held on December 2, 2011 at Marriott Hotel, Karachi.
Published 15 Nov, 2011 12:00am
22-member Indian journalists' team arrives

22-member Indian journalists' team arrives

A 22-member delegation of Indian journalists comprising members of Mumbai Press Club arrived here on Monday. The delegation led by Jatin Desai was extended a warm welcome by the members of Karachi Press Club and activists representing different NGOs at th
Published 15 Nov, 2011 12:00am
PIA seeks to muzzle employees' freedom of expression

PIA seeks to muzzle employees' freedom of expression

In a bid to muzzle freedom of free speech, the Pakistan International Airlines management has imposed censorship on its employees, restraining them from "holding press conferences and to have direct contact with print/electronic media unless so authorised
Published 15 Nov, 2011 12:00am
'DHA water problem to be resolved soon'

'DHA water problem to be resolved soon'

A reinvigorated strategy has given renewed impetus to the fast infrastructure development of phase-VIII, which constitutes 45 percent of the entire DHA here. This was stated by Commander 5 Corps, Lieutenant General Zahir-ul-Islam, who is also the Presiden
Published 15 Nov, 2011 12:00am
PPL clinches Best Corporate Report Award

PPL clinches Best Corporate Report Award

Pakistan Petroleum Limited (PPL) bagged the Best Corporate Report Award (BCRA) in the Fuel and Energy sector for its Annual Report 2010 recently. The company stood first among five short-listed organisations for the third year in a row. This is the fifth
Published 15 Nov, 2011 12:00am
Korean film festival on November 17

Korean film festival on November 17

The embassy of the Republic of Korea and Lahore Arts Council are organising a Korean film festival on November 17 to 18 here at Alhamra. Documentaries on Korea and Korean films, 'My girlfriend is an agent' and 'A barefoot dream' will be screened. The purp
Published 15 Nov, 2011 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

Gold fell on Monday as the dollar strengthened, tracking riskier assets as investors once again focused on the huge eurozone sovereign debt problems following initial optimism surrounding new governments in Italy and Greece.
Published 15 Nov, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper pushed higher for a second straight session Monday, buoyed by an upbeat tone in Asian markets and positive demand signals from China's auto sector. In New York, the key December COMEX contract rose 2.45 cents to settle at $3.4880 per lb after movin
Published 15 Nov, 2011 12:00am
US MIDDAY: soya surges

US MIDDAY: soya surges

US soyabeans rose for a second straight session early on Monday, buoyed by firm cash markets and talk of interest from top soya importer China. Soyabeans bucked the weaker bias, however, with the market expecting China, which buys around 60 percent of soy
Published 15 Nov, 2011 12:00am
Gold slips in London

Gold slips in London

Gold fell on Monday, under pressure from a stronger dollar, which gained after initial optimism over the ability of Italy and Greece to tackle their debt burdens gave way to caution, while euro-priced bullion neared two-month highs. Decent demand for Ital
Published 15 Nov, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold traded steady on Monday, as changes in the political leadership in Italy and Greece rekindled hopes for a resolution to the eurozone's debt crisis, fuelling risk appetite in markets. Equities and commodities rose after Italy and Greece rushed to form
Published 15 Nov, 2011 12:00am
Soft commodity futures settle mixed

Soft commodity futures settle mixed

Soft commodity futures finished mixed on Monday, with ICE cocoa hitting a 2-1/2-year low due to harvest pressure from the premier West African growing region. The market digested news that the 17-nation eurozone's industrial production fell 2 percent in S
Published 15 Nov, 2011 12:00am
Malaysian palm oil climbs

Malaysian palm oil climbs

Malaysian palm oil futures climbed to a near five-month high on Monday as sentiment on eurozone debt problems improved, with supply and demand fundamentals offering further support for the edible oil. Benchmark January palm oil futures on the Bursa Malays
Published 15 Nov, 2011 12:00am
Tokyo rubber futures jump seven percent

Tokyo rubber futures jump seven percent

Tokyo rubber futures jumped 7 percent on Monday, supported by higher oil prices and the prospect of top producing countries taking steps to prop up physical prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for April deli
Published 15 Nov, 2011 12:00am
Oil falls on weak eurozone data, recession worry

Oil falls on weak eurozone data, recession worry

Oil prices fell on Monday as eurozone data revealing contracting industrial output highlighted the possibility of a regional recession as Europe struggles to contain its sovereign debt crisis. Industrial production in the 17-country bloc fell 2.0 percent
Published 15 Nov, 2011 12:00am
Copper moves higher

Copper moves higher

Copper rose on Monday after Italy and Greece appointed new leaders to implement austerity measures, although gains were capped by worries about the daunting task ahead for their debt-laden economies. Financial markets generally greeted the arrival of resp
Published 15 Nov, 2011 12:00am
Shanghai copper up

Shanghai copper up

Shanghai copper hit its daily upper trade limit of 58,780 yuan ($9,267.79) on Monday after Greece and Italy appointed new leaders and seem on track to roll out austerity measures to avert a eurozone and global financial meltdown. Japan's rebound from its
Published 15 Nov, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled higher on Monday on investors and option-related buying as talk circulated in the market that a top merchant is poised to take delivery of the spot contract when it goes into first notice next week, analysts said. The spot December
Published 15 Nov, 2011 12:00am
Atlas Honda: Industry highlights

Atlas Honda: Industry highlights

In FY11 the whole automobile industry resurged. Record high exports and foreign inflows in the form of remittances were the chief contributors to this rise. Motorcycle assemblers fared even better than car assemblers in the country, given the bursting dem
Published 15 Nov, 2011 12:00am
Atlas Honda: Industry highlights

Atlas Honda: Industry highlights

In FY11 the whole automobile industry resurged. Record high exports and foreign inflows in the form of remittances were the chief contributors to this rise. Motorcycle assemblers fared even better than car assemblers in the country, given the bursting dem
Published 15 Nov, 2011 12:00am
In-camera proceedings on Qadiani issue: speaker releases report

In-camera proceedings on Qadiani issue: speaker releases report

The Federal Government Monday unveiled 37-year-old secret proceedings of joint sitting of the Parliament of 1974 that put Qadianis outside the pale of Islam. The Speaker of the National Assembly released a 21-volume official report on the proceedings of t
Published 15 Nov, 2011 12:00am
Youth kidnapped

Youth kidnapped

A young boy was kidnapped here late night by four armed men, said police on Monday. According to Nausheran Virkan police, 18-year old Mohammad Nawaz s/o Nawab Ali Gujjar was kidnapped at gun point by four armed men after he alighted from a public wagon to
Published 15 Nov, 2011 12:00am
Zardari hosts reception for Turkmen president

Zardari hosts reception for Turkmen president

President Asif Ali Zardari on Monday hosted a reception and banquet in honour of Turkmenistan's president Gurbanguly Berdymukhammedov and his delegation at the Presidency here. The banquet was also joined by Prime Minister Syed Yousuf Raza Gilani. Foreign
Published 15 Nov, 2011 12:00am
Syria faces growing world pressure to halt bloodshed

Syria faces growing world pressure to halt bloodshed

Syria incurred more European sanctions and criticism from Turkey and Jordan on Monday after a surprise Arab League decision to suspend its membership for failing to halt months of violence against protesters opposed to President Bashar al-Assad. Syria loo
Published 15 Nov, 2011 12:00am
Three French hostages freed in Yemen

Three French hostages freed in Yemen

Three French hostages kidnapped by al Qaeda militants in Yemen more than five months ago were on their way home on Monday after being freed on payment of a ransom, tribal sources said. "We, the three of us, are very thankful to his majesty Sultan Qaboos o
Published 15 Nov, 2011 12:00am
No gains after Quartet meets Israelis, Palestinians

No gains after Quartet meets Israelis, Palestinians

Envoys from the international peacemaking Quartet seemed to make no headway on Monday after separate meetings with Israeli and Palestinians officials in a bid to kick-start long-stalled peace talks. After the talks, Israel extended a freeze on the transfe
Published 15 Nov, 2011 12:00am
Philippines rejects new Chinese territorial claim

Philippines rejects new Chinese territorial claim

China has claimed new territory less than 50 miles (80 kilometres) from a Philippine province, boosting tensions over potentially resource-rich areas of the South China Sea, but the Philippines has dismissed the claim, an official said Monday. Energy Unde
Published 15 Nov, 2011 12:00am
Myanmar bomb blast kills 10

Myanmar bomb blast kills 10

A bomb blast in the capital of Myanmar's northern Kachin state has killed 10 people, including two women, a government official in the military-dominated country said on Monday. Another 23 people, including some 15 children, were injured in the explosion
Published 15 Nov, 2011 12:00am
Iran arrests BBC Persian service journalist

Iran arrests BBC Persian service journalist

An Iranian reporter believed to be working for the BBC Persian service has been arrested for "spreading lies and disrupting public minds," local media reported on Monday. Fars News agency said "Hassan Fathi who in the past days talked to BBC Persian confi
Published 15 Nov, 2011 12:00am
Fayyad may quit for sake of Palestinian unity

Fayyad may quit for sake of Palestinian unity

Palestinian Prime Minister Salam Fayyad signalled on Monday he is ready to step aside to help reconcile the two rival factions of the Palestinian national movement and pave the way for presidential and parliamentary elections.
Published 15 Nov, 2011 12:00am
522 million people could have diabetes by 2030

522 million people could have diabetes by 2030

The International Diabetes Federation predicts that one in 10 adults could have diabetes by 2030, according to their latest statistics. In a report issued on Monday, the advocacy group estimated that 522 million people would have diabetes in the next two
Published 15 Nov, 2011 12:00am
Egypt lifts bar on former ruling party members

Egypt lifts bar on former ruling party members

A top Egyptian court on Monday overturned a decision barring members of President Hosni Mubarak's former party from standing in a parliamentary election that starts later this month. A lower Egyptian court in the Delta city of Mansoura ruled on Friday to
Published 15 Nov, 2011 12:00am
Norway mass killer admits July massacre

Norway mass killer admits July massacre

The anti-Muslim militant who killed 77 people in Norway on July 22, shattering a nation known for its open society, acknowledged carrying out the massacre but refused to plead guilty in his first public hearing since the attacks. Anders Behring Breivik, s
Published 15 Nov, 2011 12:00am
Nato chief falls off bike, breaks arm

Nato chief falls off bike, breaks arm

Nato Secretary General Anders Fogh Rasmussen fell off his bicycle and broke his arm at the weekend, forcing him to call off a planned visit to the Baltic states this week, a Nato spokeswoman said. "He was biking in the woods in Brussels on Sunday and cras
Published 15 Nov, 2011 12:00am
Russia sends astronauts back to space after mishaps

Russia sends astronauts back to space after mishaps

Russia on Monday successfully resumed sending astronauts to the International Space Station after a break of over five months forced by the crash of a Russian spaceship into Siberia. Two Russians and an American blasted off to the orbiting laboratory on a
Published 15 Nov, 2011 12:00am
Nine dead in China gas explosion

Nine dead in China gas explosion

An explosion in a restaurant in a tourist city in north-western China on Monday killed at least nine people and injured another 34, state media said. The explosion happened at the start of the morning rush hour in a fast-food restaurant in Xi'an, the capi
Published 15 Nov, 2011 12:00am
Europe switches to self-extinguishing cigarettes

Europe switches to self-extinguishing cigarettes

It's lights out in Europe this weekend for old-style cigarettes that manufacturers haven't adapted to burn themselves out if left unattended. Come Friday, in a bid to cut down on smoking-induced fire deaths across the continent, all cigarettes sold in the
Published 15 Nov, 2011 12:00am
Europe sets rules for airport body scanners

Europe sets rules for airport body scanners

The European Commission set rules Monday for the use of body scanners at airports, allowing travellers to choose a different screening method and barring authorities from storing someone's image. Some European Union states, including Britain, France and G
Published 15 Nov, 2011 12:00am
Zaka Ashraf vows to lure world's best back to Pakistan

Zaka Ashraf vows to lure world's best back to Pakistan

Pakistan's new cricket chief Zaka Ashraf on Monday vowed to bring international cricket back to the country, suggesting the game's governing body could form a board to assess security before teams' tours. International cricket has been suspended in Pakist
Published 15 Nov, 2011 12:00am
Terry gagged by FA

Terry gagged by FA

John Terry was gagged by the Football Association on Monday to prevent the England captain answering any questions about allegations he racially abused QPR defender Anton Ferdinand. Chelsea defender Terry is alleged to have abused Ferdinand in a recent Pr
Published 15 Nov, 2011 12:00am
SCG to stage 100th Test

SCG to stage 100th Test

The Sydney Cricket Ground will become only the third venue to host 100 Test matches when Australia play India in January. The SCG will follow Lord's in England and the Melbourne Cricket Ground, which have also reached the mark, when it is used for the sec
Published 15 Nov, 2011 12:00am
SE Asian Games: Thais strike gold but Indonesia shine brightest

SE Asian Games: Thais strike gold but Indonesia shine brightest

Thailand enjoyed a gold-laden Monday capped by victory in the women's team badminton but Indonesia kept their comfortable lead at the top of medals table with another dynamic display that yielded 14 wins. The hosts had won 58 golds late Monday boosting th
Published 15 Nov, 2011 12:00am
No Test championship until 2017

No Test championship until 2017

Cricket's world Test championship will not begin until 2017, International Cricket Council chief executive Haroon Lorgat announced on Monday. "I am afraid that is no longer going to happen in 2013," he told reporters at the Pakistan v Sri Lanka One-day in
Published 15 Nov, 2011 12:00am
Dravid ton puts India in control

Dravid ton puts India in control

Rahul Dravid cracked a brilliant 119 to put India on course for a big total on the opening day of the second Test against the West Indies at the Eden Gardens in Kolkata on Monday. The 38-year-old batsman hit two sixes and nine fours in his 36th Test hundr
Published 15 Nov, 2011 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling dropped versus the dollar on Monday, tracking losses in the euro against the safe-haven US currency as deep-seated concerns about the eurozone's huge debt problems outweighed investor optimism over a new Italian government. The pound fell more th
Published 15 Nov, 2011 12:00am
Indian rupee hits 2-1/2 year low

Indian rupee hits 2-1/2 year low

The Indian rupee reversed all intraday gains to hit its lowest in two-and-a-half years on Monday after domestic equities lost steam and on strong dollar demand mainly from local oil refiners. Lingering concerns over the possible spill over of Europe's deb
Published 15 Nov, 2011 12:00am
Yuan slightly down

Yuan slightly down

The yuan ended down slightly against the dollar on Monday after China's central bank set the mid-point little changed as Chinese President Hu Jintao indicated that the government may keep the yuan exchange rate stable for a while. Before trading began, th
Published 15 Nov, 2011 12:00am
Won leads gains in Asian trade

Won leads gains in Asian trade

The South Korean won led gains in most of emerging Asian currencies on fresh hopes of Europe's progress to tackle its debt crisis, but regional units gave up some earlier gain as investors booked profits before Italy's debt sale.
Published 15 Nov, 2011 12:00am
Aussie and New Zealand dollars edge up

Aussie and New Zealand dollars edge up

The Australian and New Zealand dollars nudged up on Monday on hopes new leaders of Italy and Greece will roll out the necessary austerity measures to fend off a wider financial meltdown. The Australian dollar inched cautiously higher to $1.0286, from $1.0
Published 15 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 Monday. 76.48-76.48 (previous 76.41-76.45). Call Money Rates: 21.00/21.00 percent (previous 10.00-21.00 percent).
Published 15 Nov, 2011 12:00am
Euro falls as Italy, Greece optimism fades

Euro falls as Italy, Greece optimism fades

The euro fell against the dollar on Monday as tentative optimism about prospects for crisis-fighting reforms under new governments in Italy and Greece gave way in the face of the huge debt problems still plaguing the eurozone. Italy sold 3 billion euros o
Published 15 Nov, 2011 12:00am
Early trade in New York: euro falls against dollar

Early trade in New York: euro falls against dollar

The euro fell against the dollar on Monday and more losses were likely as new governments in Italy and Greece failed to assuage fears about the eurozone sovereign debt crisis. The euro traded down 0.9 percent at $1.3629. It had fallen as low as $1.3613 on
Published 15 Nov, 2011 12:00am
Euro, commodity currencies stay firmer in Asia

Euro, commodity currencies stay firmer in Asia

The euro and commodity currencies held firm on Monday as investors cheered progress on tackling Europe's debt problems, but traders remained wary as Italy prepares to test the market's appetite with a bond sale. Most traders remain unconvinced if new gove
Published 15 Nov, 2011 12:00am
Euribor rates slide

Euribor rates slide

Key euro-priced bank-to-bank lending rates fell for the 11th session running on Monday, hitting a new five-month low as this month's surprise ECB interest rate cut and excess liquidity continued to exert downward pressure on the money market. Interbank ma
Published 15 Nov, 2011 12:00am
FTSE falls

FTSE falls

Britain's top shares fell on Monday as the latest Italian bond auction dented investor confidence in the ability of new governments in Italy and Greece to tackle Europe's debt crisis. An Italian 5-year government bond auction delivered an early market vie
Published 15 Nov, 2011 12:00am
Most Southeast Asian stocks climb over one percent

Most Southeast Asian stocks climb over one percent

Most Southeast Asian stock markets climbed more than 1 percent on Monday as commodity-related stocks gained, while flood-hit Thai stocks hit seven-week highs due to optimism about a rise in consumer demand and government spending once the flooding ends.
Published 15 Nov, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks ended up 2.15 percent on Monday, the biggest one-day percentage gain in three weeks, lifted by HTC Corp and Apple supply chain firms, which have seen strong investor interest after recent corrections. The main TAIEX index rose 158.36 points
Published 15 Nov, 2011 12:00am
European shares fall

European shares fall

European share prices fell on Monday as low prices in an Italian sovereign bond auction served as a reminder of the credit crunch faced by the country as Rome works to form a new government. Italy paid a euro-era high price to sell five-year bonds, with i
Published 15 Nov, 2011 12:00am
Hong Kong and Chinese shares rise

Hong Kong and Chinese shares rise

Hong Kong shares rose 1.9 percent on Monday, lifted by strength in Chinese stocks, particularly from buying of the two consumer staple names to be added to the Hang Seng Index in December. But gains came in turnover that was significantly weaker than last
Published 15 Nov, 2011 12:00am
Most Gulf bourses ease slightly; sentiment positive

Most Gulf bourses ease slightly; sentiment positive

Most Gulf Arab bourses closed slightly lower on Monday in thin volume dealing, but overall sentiment was positive with investors looking to Europe for positive news concerning the debt crisis there. Gulf markets opened slightly higher tracking Asian stock
Published 15 Nov, 2011 12:00am
Indian shares at three-week low

Indian shares at three-week low

Indian shares erased early gains to fall to their lowest close in three weeks, dropping for three straight sessions, dragged down by the country's largest utility vehicles maker Mahindra & Mahindra after it reported a drop in quarterly profit. Investor se
Published 15 Nov, 2011 12:00am
Australian shares off highs

Australian shares off highs

Australian shares ended just 0.2 percent firmer on Monday, well below the day's highs as early gains made on news of changes in government in Italy and Greece to help resolve debt crises gave way to wariness. Investors are waiting to see clearer fiscal an
Published 15 Nov, 2011 12:00am
Monday's midday trade: Wall Street slips

Monday's midday trade: Wall Street slips

Wall Street stocks declined on Monday as eurozone data signaled the region could be facing a recession, adding to worries about Europe's debt crisis. Initial optimism about prospects of pro-growth reforms under new governments in Italy and Greece gave way
Published 15 Nov, 2011 12:00am
Nikkei average gains

Nikkei average gains

The Nikkei average gained more than 1 percent on Monday, helped by an easing of fears about Europe's debt crisis, but investors were reluctant to push the market higher ahead of an Italian debt auction later in the day. Shares in scandal-hit Olympus Corp
Published 15 Nov, 2011 12:00am
Seoul shares firm

Seoul shares firm

Seoul shares posted a strong rise on Monday in a relief rally following positive news from Italy, with gains led by technology and chemical stocks such as Hynix Semiconductor Inc and Hanwha Chemical. "The market has regained its strong support above the 6
Published 15 Nov, 2011 12:00am
Top court agrees to hear Obama healthcare law

Top court agrees to hear Obama healthcare law

The Supreme Court agreed on Monday to decide the fate of President Barack Obama's healthcare law, with an election-year ruling due by July on the US healthcare system's biggest overhaul in nearly 50 years. The decision had been widely expected since late
Published 15 Nov, 2011 12:00am
US economists lower 2012 growth outlook

US economists lower 2012 growth outlook

Economists polled by the Philadelphia Fed lowered their US economic growth outlook for the next two years as the labour market was forecast weaker than anticipated, a survey released on Monday showed. The Philadelphia Federal Reserve's fourth-quarter surv
Published 15 Nov, 2011 12:00am
Tata Motors, Mahindra profits down

Tata Motors, Mahindra profits down

Tata Motors and Mahindra & Mahindra, two of India's biggest automakers, reported a wider-than-expected fall in quarterly earnings on Monday on exchange rate fluctuations and high interest rates in Asia's third largest economy. Indian automakers have been
Published 15 Nov, 2011 12:00am
Tata Motors, Mahindra profits down

Tata Motors, Mahindra profits down

Tata Motors and Mahindra & Mahindra, two of India's biggest automakers, reported a wider-than-expected fall in quarterly earnings on Monday on exchange rate fluctuations and high interest rates in Asia's third largest economy. Indian automakers have been
Published 15 Nov, 2011 12:00am
Japan exits recession

Japan exits recession

Japan's economy rebounded from an earthquake-triggered recession in the third quarter by expanding 1.5 percent, a pace that is likely to slow down though as a strong yen and weak global growth darken the outlook. The growth - the fastest among major indus
Published 15 Nov, 2011 12:00am
Airbus sells 50 planes as producers see Mideast boom

Airbus sells 50 planes as producers see Mideast boom

Airbus on Monday clinched a deal to sell 50 A320neo aircraft to a Kuwaiti leasing firm on the second day of Dubai Airshow, as plane manufacturers forecast a boom in demand from the Middle East. The firm ALAFCO signed an agreement with the European manufac
Published 15 Nov, 2011 12:00am
Germany-Spain bond spread widens to record

Germany-Spain bond spread widens to record

The spread or difference between German and Spanish 10-year benchmark bond yields hit record levels Monday, reflecting growing concerns over Madrid's efforts to stabilise its strained public finances. As Spain 10-year bond yields - the rate of return earn
Published 15 Nov, 2011 12:00am
Lossmaking UniCredit seeks $10.3 billion, axes 6,150 jobs

Lossmaking UniCredit seeks $10.3 billion, axes 6,150 jobs

Italian bank UniCredit is to ask shareholders for 7.5 billion euros ($10.3 billion) in new capital, cut 6,150 jobs and retreat from key business areas in a bid to repair its ravaged balance sheet and return to profit. Revealing a 10.6 billion euro third-q
Published 15 Nov, 2011 12:00am
Eurozone output falls most since early 2009

Eurozone output falls most since early 2009

Eurozone industrial production fell 2 percent in September, pointing to a sharp contraction towards the end of the year and a growing threat of a fall into recession. The slide in output at factories in the 17 nations sharing the single currency was the b
Published 15 Nov, 2011 12:00am
Buffett builds $10.7 billion stake in IBM

Buffett builds $10.7 billion stake in IBM

Warren Buffett said his Berkshire Hathaway Inc has accumulated a 5.5 percent stake in IBM, the billionaire investor's biggest bet in the technology field he has historically shunned. Buffett said he was convinced by IBM's long-term roadmap and by its entr
Published 15 Nov, 2011 12:00am
World economy slowing down: OECD

World economy slowing down: OECD

Signs of slowdown in leading economies around the world are gathering speed, the OECD warned in clear terms on Monday. The composite index of leading indicators, a strong guide to coming economic performance, "continue pointing to a slowdown in economic a
Published 15 Nov, 2011 12:00am
EU governments agree to keep food aid scheme until 2014

EU governments agree to keep food aid scheme until 2014

European Union member governments agreed on Monday to spend one billion euros ($1.37 billion) of the EU's budget on food aid for Europe's neediest citizens for the next two years, though the deal foresees ending the programme in 2014. "The food aid scheme
Published 15 Nov, 2011 12:00am
Greek conservative stance threatens bailout

Greek conservative stance threatens bailout

Greece's conservatives vowed on Monday to reject any new austerity measures in return for the aid that is keeping Athens from bankruptcy, signalling a new coalition government may not enjoy the kind of cross-party support its lenders demand. Ahead of a co
Published 15 Nov, 2011 12:00am
EU financial transaction tax would be 'suicide': UK

EU financial transaction tax would be 'suicide': UK

A European financial transaction tax would be catastrophic for the continent without the participation of countries such as the United States and China, British finance minister George Osborne said on Monday. European Union policymakers have suggested a t
Published 15 Nov, 2011 12:00am
Europe's great bank balance sheet fiddle

Europe's great bank balance sheet fiddle

European banks are about to indulge in some sleight of hand. Though they have been told by regulators to raise 106 billion euros of capital by next summer, that doesn't mean they will issue that amount of new equity. Lenders are also planning to fiddle wi
Published 15 Nov, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 210,550 tonnes of cargo comprising 164,695 tonnes of import cargo and 45,855 tonnes of export cargo including 4,182 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 164,695 to
Published 15 Nov, 2011 12:00am
Russian grain prices show mixed dynamics: analysts

Russian grain prices show mixed dynamics: analysts

Russian grain prices were mixed, fluctuating slightly in the absence of significant market moving factors, analysts said on Monday. Average EXW prices for third-grade milling wheat declined by 25 roubles ($0.82) per tonne to 5,800 roubles per tonne in the
Published 15 Nov, 2011 12:00am
Ivorian cocoa arrivals reach around 186,000 tonnes

Ivorian cocoa arrivals reach around 186,000 tonnes

Cocoa arrivals at ports in top grower Ivory Coast had reached around 186,000 tonnes by November 13 since the season started in October, exporters estimated on Monday, compared with 203,870 tonnes in the same period of the previous season.
Published 15 Nov, 2011 12:00am
US soya rises for second session

US soya rises for second session

US soya rose for a second straight session on Monday, while wheat and corn inched down on concerns about the fallout of the European debt crisis, while investors hoped for new prime ministers in Greece and Italy to take decisive action. Demand for Italian
Published 15 Nov, 2011 12:00am
China's 2011-12 soya imports seen staying robust: traders

China's 2011-12 soya imports seen staying robust: traders

China, the world's top soya buyer, will continue to increase imports of the oilseed in 2011/2012 to meet rising demand from animal feed production, although releases by state reserves could weigh on the numbers, traders said. Fei Zhonghai, a trading execu
Published 15 Nov, 2011 12:00am
Brazil's soya planting picks up pace, passes halfway

Brazil's soya planting picks up pace, passes halfway

The planting of Brazil's soyabean crop is well ahead of schedule and has surpassed the halfway mark for planting of a record area this year, grain analysts Celeres said on Monday. Ample rains since late September in most soya producing regions have allowe
Published 15 Nov, 2011 12:00am
Malaysia buys Ukrainian feed wheat

Malaysia buys Ukrainian feed wheat

Ukrainian feed wheat has been sold to Malaysia at $275 a tonne c&f, European traders said on Monday. Shipment was in containers and tonnage was unknown. The deal provided new indications that Ukraine is rapidly expanding sales into Asia after the country'
Published 15 Nov, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was slightly up and January vaida was inert on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The December contract that had ended at Rs 1308.00 showed a marginal gain of 10 paisa in the morning ses
Published 15 Nov, 2011 12:00am
Masoor Canada sharply lower on grain market

Masoor Canada sharply lower on grain market

A few changes were seen on the wholesale grain market on Monday in process of modest trading, dealers said. On the cereal side masoor Canada lost Rs 1000 to Rs 5000 while Urad Burma was quoted lower at Rs 3000, wheat old Bardan and new both varieties gain
Published 15 Nov, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 15 Nov, 2011 12:00am
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