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Archive - 2011-11-29
US prepares to vacate Shamsi air base
Top News

US prepares to vacate Shamsi air base

WASHINGTON : The United state is preparing to vacate Shamsi air base after the Pakistan demanded to US. Former intelli
Published 29 Nov, 2011 11:12pm
EU carbon reduces 1.8pc
Industry

EU carbon reduces 1.8pc

LONDON: EU carbon fell 1.8 percent on Tuesday, as weaker power prices and a warmer weather forecast for most of Europe s
Published 29 Nov, 2011 07:16pm
LSE gains 18.43 points
Markets

LSE gains 18.43 points

LAHORE: Lahore Stock Exchange gained 18.43 points on Tuesday, as LSE-25 Index opened with 2928.32 and closed at 2946.75
Published 29 Nov, 2011 06:07pm
Pakistan thanks China for support
Top News

Pakistan thanks China for support

BEIJING: Pakistan's Ambassador to China, Masood Khan met with Zhang Zhijun, China's Executive Vice Foreign Minister and
Published 29 Nov, 2011 11:54am
Afaq detained for 30 days under MPO
Top News

Afaq detained for 30 days under MPO

KARACHI: Afaq Ahmed, Chairman of Mohajir Qaumi Movement (MQM- Haqiqi) has been detained under Maintainence of Public Ord
Published 29 Nov, 2011 10:12am
Van turned turtle, 14 killed, 6 injured
Top News

Van turned turtle, 14 killed, 6 injured

ISLAMABAD: A passenger van turned turtle at Tarnol near Taxila and killed 14 passenegers while injured six, PTV reported
Published 29 Nov, 2011 05:25am
PSO cuts fuel supply to PIA
Top News

PSO cuts fuel supply to PIA

ABDUL RASHEED AZAD ISLAMABAD : The management of Pakistan State Oil (PSO) has decided to reduce fuel supply to Pakist
Published 29 Nov, 2011 05:00am
Govt breaches borrowing limit
Top News

Govt breaches borrowing limit

ZAHEER ABBASI ISLAMABAD : The federal government breached the borrowing limit on account of Pakistan Railways by taki
Published 29 Nov, 2011 04:00am
Tokyo stocks open up 1.01pc
Financial

Tokyo stocks open up 1.01pc

TOKYO: Tokyo stocks opened 1.01 percent higher on hopes that eurozone leaders meeting later Tuesday can hammer out a dea
Published 29 Nov, 2011 03:58am
Business community condemns Nato attack

Business community condemns Nato attack

Federation of Pakistan Chamber of Commerce and Industry (FPCCI), its affiliated chambers and associations have strongly condemned the Nato forces attack on Pak check post in tribal areas and expressed complete solidarity with Pakistan armed forces against
Published 29 Nov, 2011 12:00am
PML-Q holds rally against Nato strikes

PML-Q holds rally against Nato strikes

Activists of Pakistan Muslim League-Q Monday staged a protest demonstration on Sher Shah Suri road near Peshawar Press Club to condemn the Nato aircraft attack on military check posts in Mohmand Agency, demanding for strong retaliation action against the
Published 29 Nov, 2011 12:00am
LCCI condemns Nato's aggression

LCCI condemns Nato's aggression

President Lahore Chamber of Commerce and Industry, Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Meher and Vice President Saeed Nazar on Monday had a meeting with Chairman of Joint Chiefs of Staff Committee General Khalid Shamim Waynne. The off
Published 29 Nov, 2011 12:00am
Lawyers hold rally against Nato strikes

Lawyers hold rally against Nato strikes

Scores of lawyers of Lahore High Court Bar Association (LHCBA) and Supreme Court Bar Association on Monday held a protest rally against Nato's attack on check posts in Mohmand Agency. The lawyers were chanting slogans against the US government and demande
Published 29 Nov, 2011 12:00am
JKPFL chairman flays Nato's invasion

JKPFL chairman flays Nato's invasion

The Chairman of Jammu and Kashmir Peoples Freedom League (JKPFL), Muhammad Farooq Rehmani has strongly condemned Nato and ISAF invasion and aerial bombardment on Pakistani posts in Mohmand Agency and paid glowing tributes to the martyrs who sacrificed the
Published 29 Nov, 2011 12:00am
Nato air strike: lawyers boycott courts

Nato air strike: lawyers boycott courts

The lawyers' fraternity on Monday demanded of the government to stop fuel supply to Nato in Afghanistan on a permanent basis and get Shamsi airbase vacated from the US troops. On the call of Pakistan Bar Council and Supreme Court Bar Association, lawyers
Published 29 Nov, 2011 12:00am
Vice chancellor PU condemns air strikes

Vice chancellor PU condemns air strikes

Vice Chancellor Punjab University Professor Dr Mujahid Kamran on Monday strongly condemned Nato aerial strikes on Pakistan's check posts in Mohmand Agency. He was addressing a special meeting of Deans, Heads of Departments and senior teachers, convened to
Published 29 Nov, 2011 12:00am
Nisar's resignation termed no trust on assemblies

Nisar's resignation termed no trust on assemblies

Terming the resignation of opposition leader in the National Assembly from the office of Chairman Public Accounts Committee as 'no confidence on present assemblies,' acting speaker Punjab Assembly, Rana Mashhood Ahmed Khan Monday said the assemblies which
Published 29 Nov, 2011 12:00am
PIAF for 200 bps cut in policy rate

PIAF for 200 bps cut in policy rate

Pakistan Industrial and Trader Associations Front (PIAF) on Monday called for 200 basis points (BPS) cut in policy rate likely to be announced on Wednesday (tomorrow). Addressing the PIAF Parliamentary Committee, here on Monday, Chairman PIAF Sohail Lasha
Published 29 Nov, 2011 12:00am
London Metropolitan University official visits UAF

London Metropolitan University official visits UAF

London Metropolitan University representative Seema Khan visited the University of Agriculture Faisalabad on Monday and briefed the students about the scholarships, student visas, working and other requirement for securing the admissions to England at New
Published 29 Nov, 2011 12:00am
US MIDDAY: gold up two percent

US MIDDAY: gold up two percent

Gold rose 2 percent early on Monday to above $1,700 an ounce, on track for its biggest one-day gain in three weeks, swept higher by a wave of economic optimism on hopes that new proposals may emerge out of Europe to tackle the region's debt crisis.
Published 29 Nov, 2011 12:00am
US MIDDAY: grains rise

US MIDDAY: grains rise

Grains rose on Monday as optimism about a resolution to the eurozone debt crisis helped weaken the US dollar and spurred investors to buy risk assets such as agricultural commodities that had fallen to multi-month lows. Short-covering also boosted wheat,
Published 29 Nov, 2011 12:00am
Gold climbs to one-week high in London

Gold climbs to one-week high in London

Gold rose above $1,700 on Monday to its highest level in a week, helped by a strong euro and gains in equity markets, on hopes Europe will unveil fresh measures to tackle the region's growing debt crisis. Spot gold rose 2.1 percent to $1,715.10 an ounce a
Published 29 Nov, 2011 12:00am
Gold jumps in Asia

Gold jumps in Asia

Gold jumped above $1,700 an ounce on Monday due to early gains in the euro and hopes that Europe will take bolder steps to resolve a crippling debt crisis, while a recovery in equities also prompted buying from a few investors. Gold held on to its 1 perce
Published 29 Nov, 2011 12:00am
Sugar, robusta coffee boosted by macro strength

Sugar, robusta coffee boosted by macro strength

Sugar and robusta coffee futures clawed higher on Monday in a short-covering surge sparked by optimism eurozone talks to address the debt crisis may finally gain some traction. But US cocoa beans slid to a 2-1/2-year low as the impact of the harvest in th
Published 29 Nov, 2011 12:00am
Indonesia palm output seen flat

Indonesia palm output seen flat

Palm oil output in the world's top producer Indonesia will be little changed next year as weather fluctuations disrupt production, while higher demand will boost prices, an official at plantation giant PT Astra Agro Lestari said.
Published 29 Nov, 2011 12:00am
Tokyo and Shanghai rubber soar

Tokyo and Shanghai rubber soar

Tokyo rubber futures jumped more than 3 percent to a one-week high on Monday on the back of rising oil prices and limited supply in producing countries, but gains were still capped by profit-taking, dealers said. The benchmark rubber contract on the Tokyo
Published 29 Nov, 2011 12:00am
Malaysian markets closed

Malaysian markets closed

Malaysia's stock, financial and commodities markets were shut on Monday for a national holiday and will re-open on Tuesday.
Published 29 Nov, 2011 12:00am
US crude, Brent up

US crude, Brent up

Oil prices rose on Monday on the latest bout of optimism about Europe's ability to contain its debt crisis and on a strong start to US holiday sales that lifted equities on Wall Street. Oil prices also received support from concerns about supply as geopol
Published 29 Nov, 2011 12:00am
Copper up on EU hopes, rebound seen fragile

Copper up on EU hopes, rebound seen fragile

Copper rallied on Monday to its highest in more than a week amid hopes that eurozone leaders will unveil concrete measures to deal with the debt crisis, though the metal remained vulnerable ahead of next week's key European summit. Copper and other commod
Published 29 Nov, 2011 12:00am
Shanghai copper surges

Shanghai copper surges

The most-traded February copper contract on the Shanghai Futures Exchange surged 3.3 percent on Monday to close at 55,370 yuan a tonne. Copper and other commodities got an early lift from a weekend media report suggesting the International Monetary Fund w
Published 29 Nov, 2011 12:00am
New York cotton up on macro news but fades at close

New York cotton up on macro news but fades at close

Cotton futures finished with small gains on Monday on buying by small investors although fibre contracts were off their session highs after initial advances ran out of gas, analysts said. The key March cotton futures rose 0.48 cent to end at 91.35 cents p
Published 29 Nov, 2011 12:00am
Lotte Pakistan

Lotte Pakistan

Lotte Pakistan PTA is one of the most traded scrips on the Karachi Stock Exchange with trade volumes hovering near the top 3-5 most traded scrips. The Company is a world-class supplier of Purified Terephthalic Acid (PTA), an essential raw material used in
Published 29 Nov, 2011 12:00am
Lotte Pakistan

Lotte Pakistan

Lotte Pakistan PTA is one of the most traded scrips on the Karachi Stock Exchange with trade volumes hovering near the top 3-5 most traded scrips. The Company is a world-class supplier of Purified Terephthalic Acid (PTA), an essential raw material used in
Published 29 Nov, 2011 12:00am
Jamaat-i-Islami secretary general returns from Sudan

Jamaat-i-Islami secretary general returns from Sudan

Secretary General Jamaat-e-Islami Liaqat Baloch on Monday got back from Sudan after attending the general conference of Sudan's ruling National Congress party in Khartoum. During his weeklong visit, he called on Sudan's President Omer al Bashir and head o
Published 29 Nov, 2011 12:00am
PZCP approves first half-yearly budget 2011-12

PZCP approves first half-yearly budget 2011-12

Provincial Zakat Council Punjab (PZCP) has approved its first half yearly budget 2011-12, under which Rs 877.992 million will be released for educational scholarships, health and marriage grant, technical education and leprosy patients. This was decided a
Published 29 Nov, 2011 12:00am
Nato attack: Asfandyar demands strict reaction

Nato attack: Asfandyar demands strict reaction

Central President of Awami National Party (ANP), Asfandyar Wali Khan, while expressing strongest condemnation over barbaric aggression by Nato forces in Mohmand agency, demanded of the government to go beyond condemnation and take strong action over the i
Published 29 Nov, 2011 12:00am
SECP facilitates companies in filing statutory returns

SECP facilitates companies in filing statutory returns

In order to facilitate the filing of annual statutory returns and accounts, the Company Registration Offices (CROs) of the Securities and Exchange Commission of Pakistan (SECP) is extending facilitation in collection of annual returns and accounts.
Published 29 Nov, 2011 12:00am
19 killed in Iraq's military base attack

19 killed in Iraq's military base attack

A suicide bomber attacked a military base in the Iraqi town of Taji on Monday, killing at least 19 people, in the latest assault by insurgents trying to undermine the government. In central Baghdad an explosion in a car park at Iraq's parliament killed at
Published 29 Nov, 2011 12:00am
15 killed in India bus collision

15 killed in India bus collision

At least 15 people were killed Monday when two buses collided in India's western state of Maharashtra, police said. Fifty-four passengers were injured in the accident in the Buldhana district, 250 kilometres east of state capital Mumbai. "The vehicles cau
Published 29 Nov, 2011 12:00am
US closes 150 websites in counterfeit crackdown

US closes 150 websites in counterfeit crackdown

US authorities said Monday they have shut down 150 websites offering counterfeit goods like sports jerseys and luxury handbags in an operation tied to the pre-Christmas shopping surge. The shutdowns, launched last week on the eve of the "Black Friday" pos
Published 29 Nov, 2011 12:00am
UK cuts military search and rescue teams

UK cuts military search and rescue teams

Britain's military will stop providing a helicopter search and rescue service, the government said on Monday, meaning daring operations like the one by Prince William and his Royal Air Force colleagues that saved two sailors this weekend will in future be
Published 29 Nov, 2011 12:00am
British film director Ken Russell dies

British film director Ken Russell dies

Ken Russell, an iconoclastic British director whose daring films blended music, sex and violence in a potent brew seemingly drawn straight from his subconscious, has died at age 84. Russell died in a hospital on Sunday following a series of strokes, his s
Published 29 Nov, 2011 12:00am
Deadly violence erupts as DR Congo votes

Deadly violence erupts as DR Congo votes

Deadly violence rocked election day in the Democratic Republic of Congo Monday as polling stations in the giant central African nation came under attack from gunmen and voters angry at long delays. Two policemen and a woman voter were killed and two soldi
Published 29 Nov, 2011 12:00am
Rifts emerge as UN climate talks open

Rifts emerge as UN climate talks open

UN climate talks got underway here on Monday amid calls for action to head off worsening drought, floods and storms but also to fears of a bustup just two years after a near-fiasco in Copenhagen. Topping the agenda in Durban is the fate of the Kyoto Proto
Published 29 Nov, 2011 12:00am
Syria committed crimes against humanity: UN report

Syria committed crimes against humanity: UN report

A United Nations commission of inquiry on Syria said on Monday Syrian military and security forces had committed crimes against humanity including murder, torture and rape and the government of President Bashar al-Assad bore responsibility. The panel, whi
Published 29 Nov, 2011 12:00am
Another 200 French soldiers to leave Afghanistan

Another 200 French soldiers to leave Afghanistan

France will pull out a further 200 soldiers from Afghanistan by the end of the year, the president's office said on Monday, on top of the 200 that returned home at the end of October under a gradual handover by foreign troops. President Nicolas Sarkozy sa
Published 29 Nov, 2011 12:00am
Nato missile shield threatens Afghanistan cooperation: Kremlin

Nato missile shield threatens Afghanistan cooperation: Kremlin

Russia may stop co-operating with Nato over Afghanistan if the alliance continues with a planned European missile shield, a senior Kremlin official said on Monday. "If our (Nato) partners do not react to our concerns on missile defence we will have to lin
Published 29 Nov, 2011 12:00am
EU governments agree new sanctions on Syria

EU governments agree new sanctions on Syria

European Union governments agreed on Monday to impose additional financial sanctions on Syrian President Bashar al-Assad's government over a crackdown on pro-democracy protests, an EU diplomat said. The EU will add 12 persons and at least 11 more institut
Published 29 Nov, 2011 12:00am
Syrians protest sanctions, 'interference'

Syrians protest sanctions, 'interference'

Tens of thousands of Syrians protested on Monday in state-backed rallies against unprecedented economic sanctions imposed by the Arab League over President Bashar al-Assad's military crackdown on popular unrest. State television showed rallies "supporting
Published 29 Nov, 2011 12:00am
WikiLeaks wins Australian journalism award

WikiLeaks wins Australian journalism award

WikiLeaks has been recognised in Australia for its "outstanding contribution to journalism", with founder Julian Assange lashing out at "cowardly" Prime Minister Julia Gillard in an acceptance speech. The anti-secrecy website was lauded at the annual Walk
Published 29 Nov, 2011 12:00am
Iran rushes through law expelling British ambassador

Iran rushes through law expelling British ambassador

A bill to downgrade Iran's ties with Britain got final approval on Monday a day after parliament approved the measure compelling the government to expel the British ambassador in retaliation for sanctions imposed over Tehran's nuclear activity. The except
Published 29 Nov, 2011 12:00am
Indian lawmaker granted bail in telecoms scandal case

Indian lawmaker granted bail in telecoms scandal case

An Indian lawmaker arrested in connection with the country's biggest corruption scandal was granted bail by a court in New Delhi on Monday. K. Kanimozhi has been charged with accepting bribes in the 2008 sale of telecommunications spectrum licences which
Published 29 Nov, 2011 12:00am
Russia launches navigation satellite

Russia launches navigation satellite

Russia on Monday successfully launched a satellite for its Glonass global navigation system from its Plesetsk cosmodrome, the country's space agency said. "The Glonass-M spacecraft separated normally from the booster rocket at 15:57 Moscow time (1157 GMT)
Published 29 Nov, 2011 12:00am
Turkish Prime Minister undergoes 'successful' surgery

Turkish Prime Minister undergoes 'successful' surgery

Turkish Prime Minister Recep Tayyip Erdogan has undergone "successful" surgery for an intestinal malady, his office said Monday. The laparoscopic gastrointestinal surgery took place Saturday, his office said in a statement posted on its website, adding: "
Published 29 Nov, 2011 12:00am
India bank on youth in West Indies ODI series

India bank on youth in West Indies ODI series

World champions India will count on their young stars to deliver when they take on fast-improving West Indies in a One-day series starting in Cuttack on Tuesday. The hosts have rested batting superstar Sachin Tendulkar and skipper Mahendra Singh Dhoni for
Published 29 Nov, 2011 12:00am
India-Pakistan doubles pair split

India-Pakistan doubles pair split

India's Rohan Bopanna and Pakistan's Aisam-ul-Haq Qureshi have ended their successful tennis doubles partnership, which was hailed as a symbol of friendship between the rival nations. Bopanna told the Indian Express newspaper on Monday that he will team u
Published 29 Nov, 2011 12:00am
Asif Toba suffers defeat in IBSF World Snooker opener

Asif Toba suffers defeat in IBSF World Snooker opener

Pakistan got off to a disappointing start on the opening day of IBSF World Snooker Championship in Bangalore (India) on Monday when debutant Muhammad Asif Toba went down to Rais Khan Sen Zhai of Afghanistan, according to an e-mail message received here.
Published 29 Nov, 2011 12:00am
Women Hockey Championship from December 9

Women Hockey Championship from December 9

National Women Hockey Championship will be played from December 9 here at National Hockey Stadium. Pakistan Hockey Federation (PHF) has appointed technical officials for the smooth conduct of the event. Parveen Sikandar Gill will be the tournament directo
Published 29 Nov, 2011 12:00am
Board meeting of PCB today

Board meeting of PCB today

The Governing Board of Pakistan Cricket Board will meet here on Tuesday to discuss important cricket matters. It will be the first meeting of the Board to be presided over by the newly appointed Chairman of the PCB, Chaudhry Zaka Asrhaf. "Chairman PCB wil
Published 29 Nov, 2011 12:00am
Pakistan a safe country for staging cricket: Indian captain

Pakistan a safe country for staging cricket: Indian captain

The Indian blind cricket team captain, Shekher Naik has described Pakistan as a safe country for staging international cricket ties and urged the cricket boards across the world to send their teams to visit Pakistan. "If we (Indian blind cricket team) can
Published 29 Nov, 2011 12:00am
Federer hails record title as one of his best

Federer hails record title as one of his best

Roger Federer insists that winning his record sixth title at the ATP World Tour Finals was one of the best moments of his career. Federer has amassed a whole host of magical memories during a remarkable career which has included a record 16 Grand Slam tit
Published 29 Nov, 2011 12:00am
Ponting backs captain, coach as selectors

Ponting backs captain, coach as selectors

Former captain Ricky Ponting gave a ringing endorsement of Australian cricket's new selection and squad policies Monday, saying it should have happened a decade ago. Ponting, lining up for his 157th Test against New Zealand at Brisbane's Gabba Ground on T
Published 29 Nov, 2011 12:00am
Australian and New Zealand dollars rally

Australian and New Zealand dollars rally

The Australian and New Zealand dollars rallied on Monday on talk of a bulky International Monetary Fund rescue package for Italy, though markets remained doubtful given a lack of official announcement. The Aussie dollar last stood at $0.9836, up 1.3 perce
Published 29 Nov, 2011 12:00am
Sterling recovers

Sterling recovers

Sterling recovered from a seven-week low against the dollar on Monday, tracking gains in stocks as risk sentiment showed signs of some improvement, although the pound could run into selling on expectations of gloomy government economic forecasts. It rose
Published 29 Nov, 2011 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee posted its biggest single-session rise in a month on Monday as a rally in local shares raised hopes foreign funds were returning, while traders expect the gains to be temporary on caution due to the eurozone debt crisis. The partially con
Published 29 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. 76.76-76.84 (previous 76.72-76.76). Call Money Rates: 06.50/08.00 percent (previous 06.50-08.00 percent).
Published 29 Nov, 2011 12:00am
Euro springs back in London

Euro springs back in London

The euro rebounded from a 7-week low on Monday on hopes of progress on its sovereign debt crisis ahead of a European Union summit next week, although investors remained sceptical that decisive action to resolve the turmoil will be swift in coming.
Published 29 Nov, 2011 12:00am
Most Asian currencies rise

Most Asian currencies rise

Most emerging Asian currencies rose on Monday, helped by short-covering after a report that the International Monetary Fund was preparing aid for Italy, but gains were capped by sceptimism over whether European leaders can agree on bold enough measures to
Published 29 Nov, 2011 12:00am
Euro rises in Asia

Euro rises in Asia

The euro rose on Monday after an Italian newspaper said the International Monetary Fund was preparing an aid package for Italy, but doubts about the feasibility of the reported plan helped limit its gains. The euro pushed higher on short-covering after an
Published 29 Nov, 2011 12:00am
Yuan falls as trading versus Aussie

Yuan falls as trading versus Aussie

The yuan closed lower against the US dollar on Monday after the People's Bank of China set the mid-point moderately weaker to reflect a US Dollar Index rally over the weekend. The domestic market, the China Foreign Exchange Trade System (CFETS), launched
Published 29 Nov, 2011 12:00am
FTSE rises on euro solution hopes

FTSE rises on euro solution hopes

Britain's top share index rallied on Monday as financial and basic resources stocks advanced, helped by hopes that eurozone leaders were moving closer to action to stem a debt crisis in the region. London's blue chips added 148.11 points in its second con
Published 29 Nov, 2011 12:00am
Australian shares climb above 4,000 level

Australian shares climb above 4,000 level

Australia's benchmark share index rose 1.9 percent to climb back above the 4,000 level on Monday, lifted by bargain-hunting after reports that the International Monetary Fund is considering help for Italy, but turnover remained below average. Financial sh
Published 29 Nov, 2011 12:00am
Seoul shares rebound

Seoul shares rebound

Seoul shares rebounded on Monday after posting their biggest weekly fall in nine weeks, with gains led by technology stocks including Samsung Electronics and LG Electronics. Reports that the International Monetary Fund was considering help for Italy furth
Published 29 Nov, 2011 12:00am
Nikkei average climbs

Nikkei average climbs

The Nikkei stock average on Monday rebounded from a 2-1/2 year low hit last week as strong US retail sales over the Thanksgiving weekend and a report that the IMF was considering support for Italy sparked short-covering. Market players bought back battere
Published 29 Nov, 2011 12:00am
Southeast Asian stocks mostly up

Southeast Asian stocks mostly up

Major Southeast Asian markets gained on Monday in thin trade led by commodities as investors cautiously bought into risky assets on hopes eurozone leaders would unveil fresh measures to resolve their debt crisis. However, analysts said most investors will
Published 29 Nov, 2011 12:00am
European shares advance

European shares advance

European shares notched up their biggest one-day gain in a month on Monday, led by banks and insurers, on hopes eurozone leaders will unveil fresh measures to help resolve the region's debt crisis, ahead of a summit next week. The FTSEurofirst 300 index o
Published 29 Nov, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks closed up 1.68 percent on Monday, although HTC Corp fell for a third session after cutting its profit outlook and withdrawing an appeal over a German patent case. The main TAIEX index rose 114.26 points to 6,898.78. HTC shed 3.68 percent. It
Published 29 Nov, 2011 12:00am
Monday's afternoon trade: Wall Street surge

Monday's afternoon trade: Wall Street surge

US stocks surged 3 percent on Monday on speculation fresh proposals may emerge to help solve Europe's debt crisis and strong gains by US retailers during the holiday shopping weekend lifted sentiment. The rally was broad-based, with all 10 S&P sectors up
Published 29 Nov, 2011 12:00am
Hong Kong and Shanghai shares gain

Hong Kong and Shanghai shares gain

Hong Kong shares rose 1.97 percent Monday, in line with regional markets, as dealers welcomed a report that the International Monetary Fund was planning to hand Italy an $800 billion bailout. The benchmark Hang Seng Index added 348.33 points to close at 1
Published 29 Nov, 2011 12:00am
Indian shares post biggest rise in three months

Indian shares post biggest rise in three months

Indian shares posted their biggest single-day gain in three months, as investor confidence received a boost from the government's move to initiate reforms and on hopes the eurozone debt crisis will be tackled with definite measures. Traders also said inve
Published 29 Nov, 2011 12:00am
Gulf Arab markets move higher

Gulf Arab markets move higher

Gulf Arab markets rallied on Monday, some from multi-year lows, as growing hopes eurozone leaders would unveil fresh measures to resolve a two-year-old debt crisis lifted stocks world-wide. "There's a lot of volatility given what's going on in Europe and
Published 29 Nov, 2011 12:00am
Germany, France press coercive eurozone debt rules

Germany, France press coercive eurozone debt rules

Germany and France stepped up a drive on Monday for coercive powers to reject eurozone members' budgets that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.
Published 29 Nov, 2011 12:00am
India invite to foreign retailers stirs backlash

India invite to foreign retailers stirs backlash

A broad and fiery backlash against India's new open-door policy for foreign retailers sparked fresh investor fears Monday about political risk anä the stability of the Congress Party's coalition government. The new rewulations don't require Parliamentary
Published 29 Nov, 2011 12:00am
UK wants pension cash to help ailing economy

UK wants pension cash to help ailing economy

Britain unveiled plans on Monday to tap pension funds for the lion's share of an investment of up to 30 billion pounds ($46.5 billion) in big building projects to help to revitalise a stagnant economy forecast to slip back into recession next year. The me
Published 29 Nov, 2011 12:00am
Fund-raising push speeds European banks' retreat

Fund-raising push speeds European banks' retreat

Europe's banks stepped up efforts to raise funds and offload business in far-flung places on Monday as Bank of Ireland sold a parcel of project finance loans and Credit Agricole said it will quit South Africa. European lenders are expected to ditch up to
Published 29 Nov, 2011 12:00am
Toyota unveils high-tech concept car

Toyota unveils high-tech concept car

Toyota's president unveiled a futuristic concept car resembling a giant smartphone to demonstrate how Japan's top automaker is trying to take the lead in technology at the upcoming Tokyo auto show. Toyota Motor Corp will also be showing an electric vehicl
Published 29 Nov, 2011 12:00am
Quarter of landmass 'highly degraded'

Quarter of landmass 'highly degraded'

The United Nations on Monday warned a quarter of the world's landmass was "highly degraded," making it difficult to raise food production by 70 percent by 2050 with many farming areas already at risk. "The report provides a wake-up call informing that hum
Published 29 Nov, 2011 12:00am
US home sales rise 1.3 percent

US home sales rise 1.3 percent

Sales of new US homes rose in October and the supply of homes on the market fell to its lowest level since April of last year, showing some healing in the battered housing sector. The Commerce Department on Monday said sales of new single-family homes edg
Published 29 Nov, 2011 12:00am
Singapore, Malaysia boost financial cooperation

Singapore, Malaysia boost financial cooperation

Singapore and Malaysia said Monday they have signed an agreement to increase financial co-operation by allowing easier access to funds denominated in the local currency from each other's central bank. The Monetary Authority of Singapore and Bank Negara Ma
Published 29 Nov, 2011 12:00am
French court annuls ban on Monsanto GM crops

French court annuls ban on Monsanto GM crops

France's top administrative court on Monday overturned a government order banning French farmers from planting genetically modified crops from the US agriculture giant Monsanto. France's agriculture ministry imposed a ban in February 2008 amid concerns ov
Published 29 Nov, 2011 12:00am
Broker ICAP prepares systems for eurozone meltdown

Broker ICAP prepares systems for eurozone meltdown

ICAP, the world's top broker for foreign exchange and government bonds, has tested its trading systems to handle the collapse of the eurozone and the re-emergence of national currencies. ICAP said on Monday it has been testing EBS, the world's largest for
Published 29 Nov, 2011 12:00am
Morgan Stanley further cuts Asian growth forecast

Morgan Stanley further cuts Asian growth forecast

Morgan Stanley on Monday further slashed its growth forecasts for Asia next year due to increasing risks from the debt crisis in Europe and weakening domestic demand. Asia excluding Japan is now expected to grow 6.9 percent instead of its previous estimat
Published 29 Nov, 2011 12:00am
Bangladesh issues 50,000 tonnes of wheat tender

Bangladesh issues 50,000 tonnes of wheat tender

Bangladesh's state grains buyer issued a tender on Sunday to import 50,000 tonnes of wheat as part of efforts to boost reserves, a procurement official said. The last date for submission of offers is December 12, with validity until December 21, and the w
Published 29 Nov, 2011 12:00am
Drought may cut 2012 grain crops in eastern Europe

Drought may cut 2012 grain crops in eastern Europe

Extensive drought and delayed sowings in eastern and central Europe could reduce the 2012 wheat and barley yields and hit rapeseed harvest, farmers and analysts said. The dry weather has hit Ukraine worst so far, with farmers and weather forecasters sayin
Published 29 Nov, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 153,822 tonnes of cargo including 74,952 tonnes of import; 78,870 tonnes of export cargo and 5,886 loaded and empty containers (TEUs) during the last 48 hours of business activities ended at 0700 hours on Monday. The total import
Published 29 Nov, 2011 12:00am
Grains go begging in buyers market

Grains go begging in buyers market

Europe's deepening debt crisis will continue to reverberate in grain markets this week as investors weigh risk, while prices falling to multi-month lows could present a buying opportunity for consumers. The euro fell to a more than seven-week low against
Published 29 Nov, 2011 12:00am
Russian wheat export prices ease on competition

Russian wheat export prices ease on competition

Russian wheat export prices eased last week mainly on rising competition from neighbouring Ukraine and Kazakhstan as well as on the emergence of Argentina on the international markets, analysts said on Monday. FOB price for wheat with 11.5 percent protein
Published 29 Nov, 2011 12:00am
India needs 30 percent of grains output for new food bill

India needs 30 percent of grains output for new food bill

India is assuming grain purchases at around 30 percent of output in plans to expand its welfare programme, the food minister said, relying on increased yields and lower wastage to cover extra requirements and keeping exports on the agenda. "We have made t
Published 29 Nov, 2011 12:00am
Egypt studies buying Polish, Hungarian wheat

Egypt studies buying Polish, Hungarian wheat

Egypt, the world's biggest wheat importer, said on Sunday it could add Polish and Hungarian wheat to its list of origins in international tenders but said the move would take time as Egyptian officials would first have to visit the countries. "This matter
Published 29 Nov, 2011 12:00am
Russian grain exports keep declining

Russian grain exports keep declining

Opinions in this report represent the views of SovEcon Ltd, an independent research organisation specialising in agricultural production and trade in the former Soviet Union. SovEcon believes that Russia will be able to export 16.5-16.8 million tonnes of
Published 29 Nov, 2011 12:00am
Europe's cash cocoa market little changed in volatile trade

Europe's cash cocoa market little changed in volatile trade

Price differentials in Europe's cash cocoa market were little changed this week even though trading was volatile, as fund buying spurred demand and limited losses caused by economic uncertainty, traders said. Ivory Coast differentials were about 75 pounds
Published 29 Nov, 2011 12:00am
EU wheat higher on export hopes

EU wheat higher on export hopes

European wheat prices extended their gains late on Friday, helped by a weakening of the euro that made the region's origin more attractive, although continuing worries about the euro zone debt crisis and the global economy kept sentiment in check.
Published 29 Nov, 2011 12:00am
Stable trend on cotton market amid slow business

Stable trend on cotton market amid slow business

Prices showed firmness on the cotton market on Monday amid sluggish business in the absence of leading factor, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,200, they said. Prices of seed-cotton in Sindh were
Published 29 Nov, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was up and the January contract was unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The December contract ended at Rs 1307.50 and opened with a gain of 20 paisa to 1307.70 and the Janu
Published 29 Nov, 2011 12:00am
Some changes seen in thin trade on grain market

Some changes seen in thin trade on grain market

Some changes were seen on the wholesale grain market on Monday in the absence of major buyers, dealers said. On the cereal side barley Sindh and Mardan were quoted at Rs 3250-3300, wheat old and new Bardan were slightly up by Rs 5 to Rs 2650-2700, they sa
Published 29 Nov, 2011 12:00am
Chevron Pakistan: Committed to improving its products and services

Chevron Pakistan: Committed to improving its products and services

Chevron Pakistan Limited is a part of Chevron Corporation, a leader in the global integrated energy business. Chevron is one of the largest integrated energy companies in the world. Headquartered in San Ramon California and conducting business across the
Published 29 Nov, 2011 12:00am
Role of engine oil in improving fuel economy

Role of engine oil in improving fuel economy

Our motor oil market continues to undergo a period of dramatic change as the result of three factors: changing emissions ratio, increased fuel economy requirements and the need to maintain durability under severe operating conditions. This has lead to the
Published 29 Nov, 2011 12:00am
Lubricants in Pakistan

Lubricants in Pakistan

Pakistan is a very lucrative and vibrant market for lubricant producers as the consumption patterns have been on a steady high in the recent past - especially because of the ever growing number of vehicles and the massive demand of power generators in Pak
Published 29 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 29 Nov, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 29 Nov, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (November 28, 2011).

Published 29 Nov, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (November 28, 2011).

Published 29 Nov, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (November 28, 2011).

Published 29 Nov, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (November 28, 2011).

Published 29 Nov, 2011 12:00am
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