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Archive - 2011-12-06
Key figures in new Argentine govt
World

Key figures in new Argentine govt

BUENOS AIRES : Argentine President Cristina Fernandez chose a new economy minister and cabinet chief on Tuesday, maintai
Published 06 Dec, 2011 08:49pm
Cameron resists rebel anger over Europe
Top News

Cameron resists rebel anger over Europe

LONDON: Prime Minister David Cameron faces a split in the ruling Conservative party over his reluctance to hold a refere
Published 06 Dec, 2011 08:34pm
Mauritius inflation rises in November
Top News

Mauritius inflation rises in November

PORT LOUIS: Year-on-year inflation in Mauritius rose to 7.0 percent in November from 6.0 percent a month earlier and the
Published 06 Dec, 2011 09:54am
Yaum-e-Ashur today
Top News

Yaum-e-Ashur today

MUHAMMAD SALEEM LAHORE: 'Yaum-e-Ashur' the 10th of Muharram, commemorating the supreme sacrifice rendered by Hazrat I
Published 06 Dec, 2011 09:15am
US evacuating Shamsi air base
Top News

US evacuating Shamsi air base

ISLAMABAD : The United States is evacuating Shamsi air base following orders from the military incensed by a deadly
Published 06 Dec, 2011 09:00am
Hong Kong stocks open down
Financial

Hong Kong stocks open down

HONG KONG: Hong Kong stocks fell 0.83 percent in early trade Tuesday after ratings agency Standard & Poor's threatened t
Published 06 Dec, 2011 05:29am
Hazrat Imam Hussain (RA): President urges countrymen to adopt values

Hazrat Imam Hussain (RA): President urges countrymen to adopt values

President, Asif Ali Zardari has urged the countrymen to follow in the footsteps of Hazrat Imam Hussain (RA) and adopt his values to eradicate all kinds of ignorance from the country. In a message on the occasion of Youm-e-Ashur, the president said, "We ha
Published 06 Dec, 2011 12:00am
Eight killed, 22 injured in Pishin accident

Eight killed, 22 injured in Pishin accident

At least eight persons have been killed and 22 others injured in a road accident on Quetta-Chaman highway near Saranan area of Pishin district on Monday. Police said that a speedy passenger bus and a truck collided head on at Hamid Cross near Saranan area
Published 06 Dec, 2011 12:00am
Processions taken out amid tight security in Peshawar

Processions taken out amid tight security in Peshawar

The ninth Muharram-ul-Haram processions were taken out on Monday amid tight security arrangements in various parts of the province. The processions passed through the designated routes and ended peacefully. Extraordinary security arrangements were made fo
Published 06 Dec, 2011 12:00am
Hoti for expediting work on mega project funded by JICA

Hoti for expediting work on mega project funded by JICA

Chief Minister, Khyber-Pakhtunkhwa, Ameer Haider Khan Hoti, on Monday asked the departments concerned to expedite construction work on mega infrastructural development project worth Rs 14 billion funded by Japan International Co-operation Agency (JICA). H
Published 06 Dec, 2011 12:00am
FTSE climbs

FTSE climbs

Britain's FTSE 100 hit a five-week closing high on Monday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the eurozone. European Union leaders, urged on anxiously by the United States, are seeki
Published 06 Dec, 2011 12:00am
Most Southeast Asian markets higher

Most Southeast Asian markets higher

Most Southeast Asian stock markets ended steady to slightly firmer on Monday, though gains were capped by profit-taking in banking and commodities-related shares as investors waited to see if European leaders can deliver a solution to the region's debt cr
Published 06 Dec, 2011 12:00am
Seoul shares inch up

Seoul shares inch up

Seoul shares closed slightly higher on Monday after last week's rally as investors stayed on cautious footing ahead of key events this week such as a crucial European leader's summit and the European Central Bank's final policy meeting of the year.
Published 06 Dec, 2011 12:00am
European stocks hit five-week high

European stocks hit five-week high

European stocks rose to a five-week closing high on Monday, after French president Nicolas Sarkozy and German chancellor Angela Merkel agreed on a range of measures to help resolve the eurozone debt crisis. Banks rose sharply, with the STOXX Europe 600 Ba
Published 06 Dec, 2011 12:00am
Hong Kong shares gain, Chinese index weakens

Hong Kong shares gain, Chinese index weakens

Hong Kong shares rose 0.7 percent on Monday, lifted by strength in Chinese financial and energy stocks as investors bet on further policy easing by Beijing after fresh data pointed to a quickly cooling economy. China's services sector grew in November at
Published 06 Dec, 2011 12:00am
Indian shares falter

Indian shares falter

Indian shares slipped 0.25 percent on Monday dragged by profit-taking, after last week's best rally seen in nearly two-and-a-half years, and on gnawing doubts over the government's ability to usher in retail-sector reforms amid tough political opposition.
Published 06 Dec, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.6 percent in cautious trade on Monday amid lingering concern about the eurozone debt crisis, with smartphone maker HTC sharply lower ahead of a US ruling on its patent war with Apple. The main TAIEX index closed down 42.6 points at 7,
Published 06 Dec, 2011 12:00am
Monday's early trade: Wall Street gains

Monday's early trade: Wall Street gains

US stocks jumped at the start of what could be the most important week of the year for Wall Street as hopes grew that European leaders will find a solution to the region's debt crisis at a summit on Friday. The bloc's crisis has been the biggest overhang
Published 06 Dec, 2011 12:00am
Nikkei moves higher

Nikkei moves higher

The Nikkei stock average edged higher on Monday to build on last week's hefty gains, helped by improved sentiment towards the European debt crisis although uncertainty about how markets will assess Italy's new austerity plan capped the upside. In Europe,
Published 06 Dec, 2011 12:00am
Petrochemical leads Saudi index to three-week high; Qatar extends rally

Petrochemical leads Saudi index to three-week high; Qatar extends rally

A sharp rise in oil prices boosted demand in Saudi Arabia's petrochemical stocks pushing the index to a three week high, while Gulf bourses were buoyed on hopes that the eurozone crisis was nearing resolution. Oil prices rose on Monday, with Brent crude f
Published 06 Dec, 2011 12:00am
British Iranians fear fallout from diplomatic row

British Iranians fear fallout from diplomatic row

Iranians living in Britain fear the latest diplomatic storm between London and Tehran will strain links with family back home and threaten deep-rooted business and cultural relations between the two countries. Growing tensions over Iran's nuclear programm
Published 06 Dec, 2011 12:00am
Roadside bomb kills five Afghan civilians

Roadside bomb kills five Afghan civilians

A minibus full of Afghan civilians struck a roadside bomb while driving down a road in southern Afghanistan on Monday, setting off an explosion that killed five passengers. One woman and four children died and another six passengers were wounded, said Far
Published 06 Dec, 2011 12:00am
African leaders demand UN action against Eritrea

African leaders demand UN action against Eritrea

East African leaders on Monday demanded that the UN Security Council clamp down on isolated Eritrea which they accused of unprovoked invasions, terrorism and flouting international law. The prime minister of Ethiopia, presidents of Somalia and Djibouti an
Published 06 Dec, 2011 12:00am
Protester shaves year-old beard with new Belgian government

Protester shaves year-old beard with new Belgian government

A Belgian radio presenter who grew a beard for almost a year in protest at protracted talks to form a government finally shaved on Monday with new coalition about to take office. Koen Fillet and almost 800 others joined the call for a beard protest by act
Published 06 Dec, 2011 12:00am
Earth-like planets feature in new survey

Earth-like planets feature in new survey

Tired of life on Earth? There may be other options, according to a catalog released on Monday of planets and moons that could have the right conditions to support life, planetary scientists said. A total of 47 exoplanets and exomoons are potential habitab
Published 06 Dec, 2011 12:00am
Stockholm bomber 'no lone wolf,' had large network

Stockholm bomber 'no lone wolf,' had large network

The man who carried out Sweden's first suicide bombing a year ago was not working alone as police hinted after the attack but was part of a large network, a Swedish daily reported Monday. "Taimour Abdulwahab was no lone wolf," the Svenska Dagbladet (SvD)
Published 06 Dec, 2011 12:00am
Netherlands to apologise for 1947 Indonesia massacre

Netherlands to apologise for 1947 Indonesia massacre

The Dutch government will formally apologise to Indonesia for the Dutch army's 1947 executions of scores of people, the foreign ministry said Monday. Dutch troops fighting to retain Indonesia as a colony swept into the Javan village of Rawagede and carrie
Published 06 Dec, 2011 12:00am
UN court rules against Greece in Macedonia row

UN court rules against Greece in Macedonia row

Greece was in the wrong when it blocked Macedonia's admission to Nato because of a dispute over the former Yugoslav republic's name, the UN's highest court ruled Monday. The 2008 action violated a provisional agreement reached in 1995 to end the long-runn
Published 06 Dec, 2011 12:00am
Hong Kong TV station fined over false report of Jiang death

Hong Kong TV station fined over false report of Jiang death

A Hong Kong television station has been fined HK$300,000 ($39,000) for erroneously reporting that former Chinese president Jiang Zemin had died, the Broadcasting Authority said Monday. Asia Television Ltd (ATV), one of two free-to-view broadcasters in the
Published 06 Dec, 2011 12:00am
South Africa's former police boss begins 15-year jail term

South Africa's former police boss begins 15-year jail term

South Africa's former police chief and ex-president of Interpol Jackie Selebi on Monday left hospital to begin his 15-year jail sentence for corruption, the national prosecutions spokesman said. "I have been told that Selebi reported to Pretoria Central P
Published 06 Dec, 2011 12:00am
Top accused says Khmer Rouge not 'bad people'

Top accused says Khmer Rouge not 'bad people'

The Khmer Rouge were not "bad people", the regime's highest-ranking surviving member said Monday as Cambodia's UN-backed war crimes tribunal began hearing evidence in a long-awaited atrocities trial. "Brother Number Two" Nuon Chea, seen as the chief ideol
Published 06 Dec, 2011 12:00am
British challenge extradition rules with US

British challenge extradition rules with US

British parliamentarians are set to debate a controversial extradition treaty between Britain and the United States on Monday which has led to contested cases such as that of three former British bankers jailed in Texas. The bankers, known as the "NatWest
Published 06 Dec, 2011 12:00am
Chinese man stabs to death four children

Chinese man stabs to death four children

A man in central China kidnapped five children from a park over the weekend, led them to a storage room and stabbed four of them to death, a local official and rights group said Monday. It was the latest in a series of violent assaults on children in Chin
Published 06 Dec, 2011 12:00am
Euro gains in London

Euro gains in London

The euro rose on Monday after Italy unveiled austerity measures and on expectations that European Union leaders will come up with a credible and comprehensive plan to tackle the eurozone debt crisis at a summit later this week. French President Nicolas Sa
Published 06 Dec, 2011 12:00am
Early trade in New York: Euro gains on France, Germany agreement

Early trade in New York: Euro gains on France, Germany agreement

The euro gained on Monday, boosted by a broad agreement between France and Germany for tighter control of eurozone budgets, although gains could be capped if a summit later this week disappoints market expectations. The accord hashed out between French Pr
Published 06 Dec, 2011 12:00am
Euro inches up in Asia

Euro inches up in Asia

The euro edged up in Asia on Monday after Italy's announcement of austerity measures prompted short-sellers to buy back the currency, though many market players see more twists and turns in the lead-up to a European Union summit this week. Italian Prime M
Published 06 Dec, 2011 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc was treading water against both the euro and the dollar on Monday, with news of Italy's austerity plan boosting risk appetite, though traders were hedging their bets ahead of Friday's big meeting of euro zone leaders. Italian Prime Ministe
Published 06 Dec, 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. 77.14-77.20 (previous 77.01-77.10). Call Money Rates: 06.25-08.50 percent (previous 06.25-09.50 percent).
Published 06 Dec, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee fell on Monday, dragged by choppiness in the euro ahead of a key regional summit this week, although traders said easing dollar demand from oil importers limited losses in the local currency. Comments by a top official of the Reserve Bank
Published 06 Dec, 2011 12:00am
Yuan declines

Yuan declines

The yuan closed down against the dollar on Monday despite the Chinese central bank setting a relatively high mid-point to deflect market speculation of yuan depreciation, traders said. The relatively high mid-point setting meant the yuan easily hit the we
Published 06 Dec, 2011 12:00am
Most Asian currencies dip

Most Asian currencies dip

Most emerging Asian currencies dipped on Monday in subdued trade as investors took profits from gains last week and awaited a key European summit later in the week to see if leaders can ease the continent's debt crisis. Italy announced fresh austerity mea
Published 06 Dec, 2011 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling rose against a broadly weak dollar on Monday, tracking a rally in the euro after an agreement between France and Germany on proposals to help solve the eurozone crisis raised confidence in currencies perceived to be higher risk. The pound was als
Published 06 Dec, 2011 12:00am
Dollar costs rise on doubts over crisis plans

Dollar costs rise on doubts over crisis plans

Interbank dollar borrowing costs inched up again on Monday as apprehension about the ability of European policymakers to draw a line under the sovereign debt crisis at summits this week made banks wary of lending to each other. In a sign of market nervous
Published 06 Dec, 2011 12:00am
Australian and New Zealand dollars struggle

Australian and New Zealand dollars struggle

The Australian and New Zealand dollars struggled to extend last week's hefty gains on Monday as investors turned cautious ahead of central bank meetings in Australia, New Zealand and Europe this week. A private report pointing to benign inflation in Austr
Published 06 Dec, 2011 12:00am
PCB chief yet to get clearance from government for India's trip

PCB chief yet to get clearance from government for India's trip

The Pakistan government has still not given approval to PCB chairman Zaka Ashraf's planned India trip for holding talks with BCCI officials to restore bilateral cricket ties between the two countries. Ashraf said the government is also yet to give clearan
Published 06 Dec, 2011 12:00am
Rampaul fires West Indies to vital win

Rampaul fires West Indies to vital win

Ravi Rampaul and debutant Sunil Narine shared six wickets to bowl the West Indies to a crucial 16-run victory over India in the third one-day international on Monday. Fast bowler Rampaul finished with 4-57 and off-spinner Narine with 2-34 as the West Indi
Published 06 Dec, 2011 12:00am
FIFA 'not always welcome in England'

FIFA 'not always welcome in England'

FIFA general secretary Jerome Valcke has told AFP that his organisation does not always feel welcome in England, after a year in which relations between FIFA and the home of football have deteriorated. FIFA, world football's governing body, has been antag
Published 06 Dec, 2011 12:00am
Bangladesh set to launch domestic T20 competition

Bangladesh set to launch domestic T20 competition

The Bangladesh Cricket Board has accepted an offer of approximately $51 million from Indian firm Game On Sports Management for six editions of a Twenty20 competition, the BCB said on Monday. The Indian Premier League-style Twenty20 tournament, named the B
Published 06 Dec, 2011 12:00am
Pakistan's Champions Trophy hopes in tatters

Pakistan's Champions Trophy hopes in tatters

Pakistan's dream of a triumphant return to Champions Trophy hockey ended with a 4-2 loss to Spain Monday, as defending champions Australia brushed aside Great Britain 4-1. Spain's Pau Quemada scored two second-half goals to inflict Pakistan's second defea
Published 06 Dec, 2011 12:00am
Sohail Abbas ruled out of action for one month

Sohail Abbas ruled out of action for one month

Ace drag flicker, Sohail Abbas will miss the remaining part of the Champions Trophy after ruled out of action for a month after struck on the face during Pakistan's match against Spain here on Monday at North Harbour stadium. "He will be undergoing surger
Published 06 Dec, 2011 12:00am
Bangladesh's Kayes ruled out of third ODI

Bangladesh's Kayes ruled out of third ODI

Influential Bangladesh opener Imrul Kayes has been ruled out of Tuesday's third One-day international against Pakistan because of a groin problem. "Kayes picked up the injury during the warm-up in Chittagong on Monday and is definitely ruled out of the ne
Published 06 Dec, 2011 12:00am
Karamatullah falls at first hurdle in Warsaw

Karamatullah falls at first hurdle in Warsaw

Pakistani squash player Karamatullah Khan bowed out of the PSA World Tour title in the Polish capital of Warsaw after he was defeated by Finnish Matias Tuomi in the first round of Grupa o2 Cup, a PSA Challenger 5 squash event at the city's Kahuna Squash &
Published 06 Dec, 2011 12:00am
Bulgarian Prime Minister named country's best footballer

Bulgarian Prime Minister named country's best footballer

Bulgaria's prime minister may occasionally take to the field for a third-division side Vitosha Bistritsa, but even he admitted Monday being nominated the country's best footballer might be a step too far. Boiko Borisov, 52, is on track to be crowned best
Published 06 Dec, 2011 12:00am
Moghreb win first CAF title after shootout

Moghreb win first CAF title after shootout

Moroccan club Moghreb Fes won a first CAF title Sunday by defeating Tunisian visitors Club Africain 6-5 in a penalty shootout climax to the two-leg Confederation Cup final. Malian Moussa Tigana snatched his first goal in the competition since January thre
Published 06 Dec, 2011 12:00am
Poland aims to smooth life for fans at Euro 2102

Poland aims to smooth life for fans at Euro 2102

Euro 2012 co-host Poland on Monday launched what it billed as a landmark one-stop-shop accommodation and travel service for the hundreds of thousands of fans expected at the showcase football tournament. "I think this is unique," said Marcin Herra, boss o
Published 06 Dec, 2011 12:00am
Christian added to Australia Test squad

Christian added to Australia Test squad

Daniel Christian was added Monday to the Australian squad for this week's second and final Test against New Zealand in Hobart as the home side look to wrap up a series win. The South Australian allrounder, yet to make his Test debut, was included followin
Published 06 Dec, 2011 12:00am
'Psychic' octopus tips Barca to beat Real

'Psychic' octopus tips Barca to beat Real

Messi the 'psychic' octopus predicted on Monday that Barcelona will beat Real Madrid during the first 'Clasico' of the season this weekend. The octopus, named after Barcelona's Argentine forward Lionel Messi, forecast the win by choosing to eat a sardine
Published 06 Dec, 2011 12:00am
Former Premier League footballer jailed

Former Premier League footballer jailed

Former Manchester United and West Brom defensive midfielder Ronnie Wallwork was sentenced to 15 months in jail on Monday for selling on parts from stolen cars. The 34-year-old - who was fortunate to escape with his life when he was stabbed several times i
Published 06 Dec, 2011 12:00am
Iraqi cabinet okays 2012 budget at $100 billion

Iraqi cabinet okays 2012 budget at $100 billion

Iraq's cabinet approved a draft 2012 budget of 117 trillion Iraqi dinars ($100 billion) with a deficit of 17 trillion dinars ($14.5 billion), Iraq's cabinet secretary said on Monday. The 2012 budget, which still needs parliamentary approval, is based on a
Published 06 Dec, 2011 12:00am
Hungary makes: U-turn on debt reduction

Hungary makes: U-turn on debt reduction

Hungary made Monday a U-turn in its "war on debt" Monday, giving itself five more years to comply with a new constitutional rule despite approaching the International Monetary Fund for help. Under a new constitution to come into force on January 1, Hungar
Published 06 Dec, 2011 12:00am
TUI Travel profit hits record high as rival falters

TUI Travel profit hits record high as rival falters

TUI Travel, the world's biggest tour operator, reported a better-than-expected full-year profit, boosted by strong online sales and demand for exclusive resorts and offering a stark contrast to struggling rival Thomas Cook. The group, which takes 30 milli
Published 06 Dec, 2011 12:00am
TUI Travel profit hits record high as rival falters

TUI Travel profit hits record high as rival falters

TUI Travel, the world's biggest tour operator, reported a better-than-expected full-year profit, boosted by strong online sales and demand for exclusive resorts and offering a stark contrast to struggling rival Thomas Cook. The group, which takes 30 milli
Published 06 Dec, 2011 12:00am
Shipbuilder IHC eyes acquisitions in Asia

Shipbuilder IHC eyes acquisitions in Asia

Dutch shipbuilder IHC Merwede hopes to announce the acquisition of a few Asian shipyards next quarter as it sticks to an aggressive plan to expand internationally and grow by 50 percent in five years, a senior company executive said on Monday.
Published 06 Dec, 2011 12:00am
Bangladesh inflation rises on oil prices

Bangladesh inflation rises on oil prices

Bangladesh's annual inflation rose to 11.58 percent in November from 11.42 percent a month earlier after the government, saddled with a huge subsidy bill for rising oil prices, raised fuel charges for the third time since May. Price pressures are a major
Published 06 Dec, 2011 12:00am
Norway's banks must prepare for downturn

Norway's banks must prepare for downturn

Norway's economy will be hard hit if Europe falls back into recession and the nation's banks must boost their capital buffers to prepare for lending losses, the head of the Nowegian Financial Supervisory Autority (FSA) told Reuters. The oil producing nati
Published 06 Dec, 2011 12:00am
Singapore's PMI contracts for fifth straight month

Singapore's PMI contracts for fifth straight month

Singapore's manufacturing sector contracted for a fifth straight month in November as orders continued to shrink, a survey showed on Monday, adding to evidence of a deepening global economic slowdown even as Europe's debt crisis reaches a critical stage.
Published 06 Dec, 2011 12:00am
Kenya growth outlook boosted by rain, shilling rally

Kenya growth outlook boosted by rain, shilling rally

Kenya's economy will expand between 4.5 to 5.0 percent this year, thanks to good rainfall and a recovery in the local currency in recent weeks, before accelerating to 5.0 percent or higher in 2012, the planning minister said on Monday. The east African na
Published 06 Dec, 2011 12:00am
Commerzbank cuts debt pile to avoid more state aid

Commerzbank cuts debt pile to avoid more state aid

Commerz-bank AG moved to fend off government intervention on Monday, saying it would buy back 600 million euros ($806 million) in cut-price debt in a bid to shore up its capital. The partly state-owned bank, which received an 18.2 billion euros bailout in
Published 06 Dec, 2011 12:00am
Olympus hid up to $1.7 billion, no proof of yakuza link

Olympus hid up to $1.7 billion, no proof of yakuza link

An investigative panel has found Japan's disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but is likely to say there is no evidence of involvement by organised crime in the cover-up, a source said on Monday. The panel will also
Published 06 Dec, 2011 12:00am
Analysts trim Brazil's 2011 growth outlook

Analysts trim Brazil's 2011 growth outlook

Economists trimmed their growth expectations for Brazil's economy in 2011 to 3.09 percent compared with 3.10 percent a week ago, according to a weekly central bank survey published on Monday. The analysts also raised by a shade their forecast for Brazil's
Published 06 Dec, 2011 12:00am
EU launches trade talks with Georgia and Moldova

EU launches trade talks with Georgia and Moldova

The European Union announced on Monday it would start talks in early 2012 on a free trade area with Georgia and Moldova, a move it said offered its two eastern neighbours scope to grow their economies by pulling in foreign investment. The move comes less
Published 06 Dec, 2011 12:00am
US urges South Korea to cut Irani petrochemical imports

US urges South Korea to cut Irani petrochemical imports

A senior US official urged energy-starved South Korea to cut imports of Iranian petrochemicals and reduce crude oil imports from the Gulf state, as Washington applies more pressure on Tehran. Iran's nuclear ambitions, its claim to have shot down a US spy
Published 06 Dec, 2011 12:00am
China's slowdown spreading: HSBC index

China's slowdown spreading: HSBC index

China's services sector cooled in November to its weakest growth in three months, an HSBC purchasing managers' index showed on Monday, the latest data portraying an economy slowing quickly and in need of policy support. The index fell to 52.5, a sharp dec
Published 06 Dec, 2011 12:00am
French insurer AXA to axe 1,600 jobs

French insurer AXA to axe 1,600 jobs

French insurance giant AXA is to slash 1,600 jobs out of a total workforce of 9,000 in Germany as part of a deep cost-cutting programme, a company spokesman said on Monday. AXA aims to cut costs by 220 million euros ($295 million) by 2015 and "the jobs wi
Published 06 Dec, 2011 12:00am
Nakheel posts profit

Nakheel posts profit

Indebted Dubai developer Nakheel, whose extravagant projects spurred the emirate's debt crisis, reported a first-half net profit on Monday as it handed over stalled projects. Nakheel, which built man-made islands shaped like palms and a map of the world,
Published 06 Dec, 2011 12:00am
Nakheel posts profit

Nakheel posts profit

Indebted Dubai developer Nakheel, whose extravagant projects spurred the emirate's debt crisis, reported a first-half net profit on Monday as it handed over stalled projects. Nakheel, which built man-made islands shaped like palms and a map of the world,
Published 06 Dec, 2011 12:00am
US service sector growth slows

US service sector growth slows

The US economy showed signs it was decelerating, with an index of service activity pointing to slower growth in November while new orders for factory goods declined in October for the second straight month. The Institute for Supply Management said on Mond
Published 06 Dec, 2011 12:00am
Eurozone economy heading for steep contraction in fourth quarter: PMI

Eurozone economy heading for steep contraction in fourth quarter: PMI

The escalating sovereign debt crisis has already pushed the eurozone economy into a contraction that could be far worse than economists had expected, business surveys suggested on Monday. Markit's Eurozone Composite Purchasing Managers Index (PMI), which
Published 06 Dec, 2011 12:00am
Chinese bank in Saab rescue talks

Chinese bank in Saab rescue talks

A Chinese bank is in talks about taking a stake in Saab, in the latest attempt to rescue the crisis-hit Swedish car maker after an earlier deal to secure its future ran into trouble. Saab owner Swedish Automobile on Monday declined to name the bank it is
Published 06 Dec, 2011 12:00am
Czech Airlines to fire 100 pilots as fleet shrinks

Czech Airlines to fire 100 pilots as fleet shrinks

Struggling state-owned carrier Czech Airlines will dismiss 100 of its 300 pilots in a restructuring, the company said on Monday. The company said some of the pilots would receive notice this week and others in following weeks. Some are expected to find jo
Published 06 Dec, 2011 12:00am
Monti warns of Greek-style risk to Italy

Monti warns of Greek-style risk to Italy

Italy risked a Greek-style economic collapse which could threaten the future of the euro without the austerity package approved by the government, Prime Minister Mario Monti said on Monday, calling on European partners to do their part. Monti's announceme
Published 06 Dec, 2011 12:00am
ECB must use all weapons in fight on debt crisis: OECD

ECB must use all weapons in fight on debt crisis: OECD

The European Central Bank should play a full role in fighting the eurozone debt crisis, the head of the Organisation for Economic Co-operation and Development (OECD) Angel Gurria said on Monday. "There are instruments in Europe, there is the ECB," Gurria
Published 06 Dec, 2011 12:00am
Ireland imposes further cuts; more to come

Ireland imposes further cuts; more to come

Ireland's government imposed further spending cuts on Monday with possibly more still to come as the European debt crisis throws up a disturbing cocktail of slowing growth and zealous austerity across the currency bloc. Ireland is only half-way through an
Published 06 Dec, 2011 12:00am
RIM Indonesia chief named suspect in BlackBerry chaos

RIM Indonesia chief named suspect in BlackBerry chaos

Indonesian police named Research In Motion's country director a suspect for negligence Monday after a BlackBerry promotion turned chaotic and left dozens injured and others knocked unconscious. Andrew Cobham, president director for Research in Motion (RIM
Published 06 Dec, 2011 12:00am
'Occupy DC' protesters arrested after standoff

'Occupy DC' protesters arrested after standoff

Police have arrested 31 protesters at an anti-Wall Street encampment in Washington and torn down the wooden shelter that activists illegally erected overnight, prompting a nine-hour confrontation. Officers on foot and horseback converged on McPherson Squa
Published 06 Dec, 2011 12:00am
India's business hits out at delay to retail reform

India's business hits out at delay to retail reform

Indian industry has responded angrily to a delay in government plans to open the retail sector to foreign supermarkets, warning that failure to push through reforms puts economic growth at risk. Prime Minister Manmohan Singh has come under fierce oppositi
Published 06 Dec, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (December 05, 2011).

Published 06 Dec, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (December 05, 2011).
Published 06 Dec, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 06 Dec, 2011 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 06 Dec, 2011 12:00am
The Weather

The Weather

The weather report on Monday (December 05, 2011) and the forecast for Tuesday (December 06, 2011).

Published 06 Dec, 2011 12:00am
Yaum-e-Ashur today

Yaum-e-Ashur today

'Yaum-e-Ashur' the 10th of Muharram, commemorating the supreme sacrifice rendered by Hazrat Imam Hussain (RA), the grandson of Holy Prophet (PBUH) and his companions, to uphold truth and righteousness is being observed on Tuesday (today) with reverence an
Published 06 Dec, 2011 12:00am
Yaum-e-Ashur today

Yaum-e-Ashur today

'Yaum-e-Ashur' the 10th of Muharram, commemorating the supreme sacrifice rendered by Hazrat Imam Hussain (RA), the grandson of Holy Prophet (PBUH) and his companions, to uphold truth and righteousness is being observed on Tuesday (today) with reverence an
Published 06 Dec, 2011 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed today, Tuesday, (December 6) on account of Ashura. There will, therefore, be no issue of the newspaper tomorrow, Wednesday (December 7).However arrangements have been made to update latest Edition
Published 06 Dec, 2011 12:00am
Holiday notice

Holiday notice

The offices of Business Recorder will remain closed today, Tuesday, (December 6) on account of Ashura. There will, therefore, be no issue of the newspaper tomorrow, Wednesday (December 7).However arrangements have been made to update latest Edition
Published 06 Dec, 2011 12:00am
Franco-German budget plan demands EU treaty change

Franco-German budget plan demands EU treaty change

The leaders of France and Germany agreed a master plan on Monday for imposing budget discipline across the euro zone, saying the EU's basic treaty will need to be changed in the search for a sweeping solution to its debt crisis. President Nicolas Sarkozy
Published 06 Dec, 2011 12:00am
Franco-German budget plan demands EU treaty change

Franco-German budget plan demands EU treaty change

The leaders of France and Germany agreed a master plan on Monday for imposing budget discipline across the euro zone, saying the EU's basic treaty will need to be changed in the search for a sweeping solution to its debt crisis. President Nicolas Sarkozy
Published 06 Dec, 2011 12:00am
Franco-German budget plan demands EU treaty change

Franco-German budget plan demands EU treaty change

The leaders of France and Germany agreed a master plan on Monday for imposing budget discipline across the euro zone, saying the EU''s basic treaty will need to be changed in the search for a sweeping solution to its debt crisis. President Nicolas Sarkozy
Published 06 Dec, 2011 12:00am
No referendum needed on eurozone changes: Cameron

No referendum needed on eurozone changes: Cameron

Proposed changes to the way the eurozone governs its fiscal policy do not require a referendum in Britain, which is in the EU but does not use the single currency, the government said on Monday. European leaders are under pressure this week to deliver a l
Published 06 Dec, 2011 12:00am
No referendum needed on eurozone changes: Cameron

No referendum needed on eurozone changes: Cameron

Proposed changes to the way the eurozone governs its fiscal policy do not require a referendum in Britain, which is in the EU but does not use the single currency, the government said on Monday. European leaders are under pressure this week to deliver a l
Published 06 Dec, 2011 12:00am
No referendum needed on eurozone changes: Cameron

No referendum needed on eurozone changes: Cameron

Proposed changes to the way the eurozone governs its fiscal policy do not require a referendum in Britain, which is in the EU but does not use the single currency, the government said on Monday. European leaders are under pressure this week to deliver a l
Published 06 Dec, 2011 12:00am
HSBC hit with record fine

HSBC hit with record fine

Britain's financial regulator slapped a record 10.5 million pound ($16.4 million) fine on HSBC on Monday for mis-selling investments to pay care home costs for older customers. Europe's biggest bank is likely to pay another 29.3 million pounds in compensa
Published 06 Dec, 2011 12:00am
HSBC hit with record fine

HSBC hit with record fine

Britain's financial regulator slapped a record 10.5 million pound ($16.4 million) fine on HSBC on Monday for mis-selling investments to pay care home costs for older customers. Europe's biggest bank is likely to pay another 29.3 million pounds in compensa
Published 06 Dec, 2011 12:00am
HSBC hit with record fine

HSBC hit with record fine

Britain''s financial regulator slapped a record 10.5 million pound ($16.4 million) fine on HSBC on Monday for mis-selling investments to pay care home costs for older customers. Europe''s biggest bank is likely to pay another 29.3 million pounds in compen
Published 06 Dec, 2011 12:00am
Syria 'accepts' observers as 34 bodies dumped

Syria 'accepts' observers as 34 bodies dumped

Syria said on Monday it conditionally accepts observers as part of an Arab plan, as a rights group reported militiamen loyal to the regime killed 34 civilians and dumped their bodies in a city square. The Arab League, which has threatened to impose new sa
Published 06 Dec, 2011 12:00am
Syria 'accepts' observers as 34 bodies dumped

Syria 'accepts' observers as 34 bodies dumped

Syria said on Monday it conditionally accepts observers as part of an Arab plan, as a rights group reported militiamen loyal to the regime killed 34 civilians and dumped their bodies in a city square. The Arab League, which has threatened to impose new sa
Published 06 Dec, 2011 12:00am
Pakistan seeks new relationship with US: Prime Minister

Pakistan seeks new relationship with US: Prime Minister

Pakistan wants to rebuild ties with the United States despite ongoing retaliation over deadly Nato air strikes on its troops along the Afghan border, the country's prime minister said on Monday, stressing that he believes "it won't take long" to achieve a
Published 06 Dec, 2011 12:00am
Pakistan seeks new relationship with US: Prime Minister

Pakistan seeks new relationship with US: Prime Minister

Pakistan wants to rebuild ties with the United States despite ongoing retaliation over deadly Nato air strikes on its troops along the Afghan border, the country's prime minister said on Monday, stressing that he believes "it won't take long" to achieve a
Published 06 Dec, 2011 12:00am
Clinton welcomes Gilani comments

Clinton welcomes Gilani comments

US Secretary of State Hillary Rodham Clinton welcomed comments on Monday by Prime Minister Yousuf Raza Gilani, who envisages continued co-operation between the two countries. Clinton said she was "encouraged" by Gilani's comments, in which "he expected th
Published 06 Dec, 2011 12:00am
Clinton welcomes Gilani comments

Clinton welcomes Gilani comments

US Secretary of State Hillary Rodham Clinton welcomed comments on Monday by Prime Minister Yousuf Raza Gilani, who envisages continued co-operation between the two countries. Clinton said she was "encouraged" by Gilani's comments, in which "he expected th
Published 06 Dec, 2011 12:00am
Kabul's allies pledge to stay for long-haul

Kabul's allies pledge to stay for long-haul

Foreign governments pledged on Monday to support Afghanistan long after allied troops go home, with or without a political settlement with insurgents once seen as the best way to prevent a new civil war. At a conference of more than 80 countries but boyco
Published 06 Dec, 2011 12:00am
Kabul's allies pledge to stay for long-haul

Kabul's allies pledge to stay for long-haul

Foreign governments pledged on Monday to support Afghanistan long after allied troops go home, with or without a political settlement with insurgents once seen as the best way to prevent a new civil war. At a conference of more than 80 countries but boyco
Published 06 Dec, 2011 12:00am
Bonn moot: Islamabad conspicuous by its absence

Bonn moot: Islamabad conspicuous by its absence

Pakistan is a central player in regional efforts to improve trade and strengthen its weak economies. But its boycott has cast a pall over the session, because it points out that nation's influence in Afghanistan and its ability to play the spoiler.
Published 06 Dec, 2011 12:00am
Bonn moot: Islamabad conspicuous by its absence

Bonn moot: Islamabad conspicuous by its absence

Pakistan is a central player in regional efforts to improve trade and strengthen its weak economies. But its boycott has cast a pall over the session, because it points out that nation's influence in Afghanistan and its ability to play the spoiler.
Published 06 Dec, 2011 12:00am
Pakistan envoys summoned to Islamabad

Pakistan envoys summoned to Islamabad

The government summoned on Monday most of Pakistan ambassadors stationed in various parts of the world to Islamabad with a view to revamping its foreign policy in the aftermath of the recent Nato attacks on Pakistan army posts in Mohmand Agency.
Published 06 Dec, 2011 12:00am
Pakistan envoys summoned to Islamabad

Pakistan envoys summoned to Islamabad

The government summoned on Monday most of Pakistan ambassadors stationed in various parts of the world to Islamabad with a view to revamping its foreign policy in the aftermath of the recent Nato attacks on Pakistan army posts in Mohmand Agency.
Published 06 Dec, 2011 12:00am
Pakistan joins India in bidding for Australian uranium

Pakistan joins India in bidding for Australian uranium

Selling uranium to India but not Pakistan would be unfair because neither is a signatory to the 1970 nuclear Non-Proliferation Treaty (NPT), Pakistan's High Commissioner to Australia said Monday. "If Australia is going to lift the ban on a country which h
Published 06 Dec, 2011 12:00am
Pakistan joins India in bidding for Australian uranium

Pakistan joins India in bidding for Australian uranium

Selling uranium to India but not Pakistan would be unfair because neither is a signatory to the 1970 nuclear Non-Proliferation Treaty (NPT), Pakistan's High Commissioner to Australia said Monday. "If Australia is going to lift the ban on a country which h
Published 06 Dec, 2011 12:00am
Russia withdraws envoy to Qatar after attack

Russia withdraws envoy to Qatar after attack

Russia said on Monday it was downgrading relations with Qatar and withdrawing its ambassador after he was beaten by customs officials at Doha's airport last month, causing possible difficulty over a major energy deal between the two countries. Moscow has
Published 06 Dec, 2011 12:00am
Russia withdraws envoy to Qatar after attack

Russia withdraws envoy to Qatar after attack

Russia said on Monday it was downgrading relations with Qatar and withdrawing its ambassador after he was beaten by customs officials at Doha's airport last month, causing possible difficulty over a major energy deal between the two countries. Moscow has
Published 06 Dec, 2011 12:00am
July 1, 2011 to November 18: government borrowing hits alarming level

July 1, 2011 to November 18: government borrowing hits alarming level

Borrowing for budgetary support which is on a constant surge, posted a substantial increase of 105 percent during July 1 to November 18, 2011, because of rising current expenditure of federal and provincial governments. "Healthy increase in government's c
Published 06 Dec, 2011 12:00am
July 1, 2011 to November 18: government borrowing hits alarming level

July 1, 2011 to November 18: government borrowing hits alarming level

Borrowing for budgetary support which is on a constant surge, posted a substantial increase of 105 percent during July 1 to November 18, 2011, because of rising current expenditure of federal and provincial governments. "Healthy increase in government's c
Published 06 Dec, 2011 12:00am
July 1, 2011 to November 18: government borrowing hits alarming level

July 1, 2011 to November 18: government borrowing hits alarming level

Borrowing for budgetary support which is on a constant surge, posted a substantial increase of 105 percent during July 1 to November 18, 2011, because of rising current expenditure of federal and provincial governments. "Healthy increase in government''s
Published 06 Dec, 2011 12:00am
High cost of electricity major reason behind under-recoveries

High cost of electricity major reason behind under-recoveries

The high cost of electricity has been identified as one of the major reasons for under-recoveries of distribution companies (Discos), leading to deterioration in balance sheet of power purchaser and liquidity crunch for power producers, revealed an offici
Published 06 Dec, 2011 12:00am
High cost of electricity major reason behind under-recoveries

High cost of electricity major reason behind under-recoveries

The high cost of electricity has been identified as one of the major reasons for under-recoveries of distribution companies (Discos), leading to deterioration in balance sheet of power purchaser and liquidity crunch for power producers, revealed an offici
Published 06 Dec, 2011 12:00am
High cost of electricity major reason behind under-recoveries

High cost of electricity major reason behind under-recoveries

The high cost of electricity has been identified as one of the major reasons for under-recoveries of distribution companies (Discos), leading to deterioration in balance sheet of power purchaser and liquidity crunch for power producers, revealed an offici
Published 06 Dec, 2011 12:00am
US Navy in big biofuel purchase

US Navy in big biofuel purchase

The US Navy unveiled plans Monday for its biggest-ever biofuel purchase as part of an effort to reduce dependence on imported oil. US Navy Secretary Ray Mabus said the 450,000 gallons (1.7 million liters) were part of the "largest single purchase of advan
Published 06 Dec, 2011 12:00am
Gbagbo accuses France in first appearance before ICC

Gbagbo accuses France in first appearance before ICC

Ivory Coast's Laurent Gbagbo made his first appearance Monday before judges at the International Criminal Court where he blamed the French military for his arrest for crimes against humanity. During the former president's brief hearing before The Hague-ba
Published 06 Dec, 2011 12:00am
Indian President witnesses war games in Rajasthan

Indian President witnesses war games in Rajasthan

Indian President Pratibha Patil on Monday flew in a military transport helicopter and then rode in a battle tank to witness Indian Army's massive war games in Rajasthan desert close to international border with Pakistan, India Asian News Service (IANS) re
Published 06 Dec, 2011 12:00am
Indian President witnesses war games in Rajasthan

Indian President witnesses war games in Rajasthan

Indian President Pratibha Patil on Monday flew in a military transport helicopter and then rode in a battle tank to witness Indian Army's massive war games in Rajasthan desert close to international border with Pakistan, India Asian News Service (IANS) re
Published 06 Dec, 2011 12:00am
Indian Navy proud of Pak JF-17 aircraft!

Indian Navy proud of Pak JF-17 aircraft!

Indian Navy embroiled on a controversy when it released picture of a Pakistan-made JF-17 jet fighter in an advertisement instead of Indian aircraft on occasion of Navy Day commemorated to mark day of Indian ships bombardment on Karachi in 1971. The mistak
Published 06 Dec, 2011 12:00am
Indian Navy proud of Pak JF-17 aircraft!

Indian Navy proud of Pak JF-17 aircraft!

Indian Navy embroiled on a controversy when it released picture of a Pakistan-made JF-17 jet fighter in an advertisement instead of Indian aircraft on occasion of Navy Day commemorated to mark day of Indian ships bombardment on Karachi in 1971. The mistak
Published 06 Dec, 2011 12:00am
Kidnapped Pakistanis freed in Afghanistan

Kidnapped Pakistanis freed in Afghanistan

Seven Pakistani workers kidnapped in Afghanistan were released on Monday after five days in captivity, police said. The Pakistanis - engineers and workers on a hospital construction project in Logar province, just south of the capital Kabul - were freed u
Published 06 Dec, 2011 12:00am
Kidnapped Pakistanis freed in Afghanistan

Kidnapped Pakistanis freed in Afghanistan

Seven Pakistani workers kidnapped in Afghanistan were released on Monday after five days in captivity, police said. The Pakistanis - engineers and workers on a hospital construction project in Logar province, just south of the capital Kabul - were freed u
Published 06 Dec, 2011 12:00am
Rocket kills two in Kohat

Rocket kills two in Kohat

A rocket attack killed two people including one policeman on Monday in Kohat, police said, as the country beefed up security ahead of the religious ceremony Ashura. "One rocket fell near a police checkpost in the main bazaar of (the garrison city) Kohat w
Published 06 Dec, 2011 12:00am
Rocket kills two in Kohat

Rocket kills two in Kohat

A rocket attack killed two people including one policeman on Monday in Kohat, police said, as the country beefed up security ahead of the religious ceremony Ashura. "One rocket fell near a police checkpost in the main bazaar of (the garrison city) Kohat w
Published 06 Dec, 2011 12:00am
NASA confirms 'super-Earth' that could hold life

NASA confirms 'super-Earth' that could hold life

In another step toward finding Earth-like planets that may hold life, NASA said Monday the Kepler space telescope has confirmed its first-ever planet in a habitable zone outside our solar system. French astronomers earlier this year confirmed the first ro
Published 06 Dec, 2011 12:00am
NASA confirms 'super-Earth' that could hold life

NASA confirms 'super-Earth' that could hold life

In another step toward finding Earth-like planets that may hold life, NASA said Monday the Kepler space telescope has confirmed its first-ever planet in a habitable zone outside our solar system. French astronomers earlier this year confirmed the first ro
Published 06 Dec, 2011 12:00am
Centrica, Qatar sign MoU on energy investment

Centrica, Qatar sign MoU on energy investment

Energy provider Centrica, which owns British Gas, said Monday that it has signed a memorandum of understanding with Qatar to explore further co-operation in oil and gas investments. Centrica, which inked a major deal earlier this year to secure liquefied
Published 06 Dec, 2011 12:00am
Centrica, Qatar sign MoU on energy investment

Centrica, Qatar sign MoU on energy investment

Energy provider Centrica, which owns British Gas, said Monday that it has signed a memorandum of understanding with Qatar to explore further co-operation in oil and gas investments. Centrica, which inked a major deal earlier this year to secure liquefied
Published 06 Dec, 2011 12:00am
Assange wins new round in Britain extradition fight

Assange wins new round in Britain extradition fight

WikiLeaks founder Julian Assange won permission Monday to apply to Britain's highest court in a final attempt to block his extradition to Sweden over rape allegations after a year-long battle. Two High Court judges threw Assange a fresh legal lifeline whe
Published 06 Dec, 2011 12:00am
Assange wins new round in Britain extradition fight

Assange wins new round in Britain extradition fight

WikiLeaks founder Julian Assange won permission Monday to apply to Britain's highest court in a final attempt to block his extradition to Sweden over rape allegations after a year-long battle. Two High Court judges threw Assange a fresh legal lifeline whe
Published 06 Dec, 2011 12:00am
Malik seeks US action against Mansoor Ijaz

Malik seeks US action against Mansoor Ijaz

Interior Minister Rehman Malik has said that the American citizen, Mansoor Ijaz, who played the central role in the Memogate scandal, could not be trusted, as he tried to destabilise Pakistan and defame its armed forces by twisting the facts and urged the
Published 06 Dec, 2011 12:00am
Malik seeks US action against Mansoor Ijaz

Malik seeks US action against Mansoor Ijaz

Interior Minister Rehman Malik has said that the American citizen, Mansoor Ijaz, who played the central role in the Memogate scandal, could not be trusted, as he tried to destabilise Pakistan and defame its armed forces by twisting the facts and urged the
Published 06 Dec, 2011 12:00am
No repetition of incidents like Salala attack: Munter

No repetition of incidents like Salala attack: Munter

US Ambassador to Pakistan Cameroon Munter on Monday said that the United States would ensure that there is no repetition of the incidents like Salala attack, in which 24 Pakistani soldiers lost their lives. In an interview with PTV, he said there was mech
Published 06 Dec, 2011 12:00am
No repetition of incidents like Salala attack: Munter

No repetition of incidents like Salala attack: Munter

US Ambassador to Pakistan Cameroon Munter on Monday said that the United States would ensure that there is no repetition of the incidents like Salala attack, in which 24 Pakistani soldiers lost their lives. In an interview with PTV, he said there was mech
Published 06 Dec, 2011 12:00am
Bombs kill 32 in Iraq

Bombs kill 32 in Iraq

A series of bombs tore through crowds of Shia pilgrims celebrating a major ritual across Iraq on Monday, killing at least 32 people, mostly women and children, and wounding scores more, local police and witnesses said. The attacks, at the height of Ashura
Published 06 Dec, 2011 12:00am
Bombs kill 32 in Iraq

Bombs kill 32 in Iraq

A series of bombs tore through crowds of Shia pilgrims celebrating a major ritual across Iraq on Monday, killing at least 32 people, mostly women and children, and wounding scores more, local police and witnesses said. The attacks, at the height of Ashura
Published 06 Dec, 2011 12:00am
Cylinder blast creates panic in Lines Area

Cylinder blast creates panic in Lines Area

Tension heightened when a gas cylinder exploded at a shop situated in Lines Area late Monday, police and rescuers said. According to police and rescuers, the news of the blast, aired by different TV channels, created panic amid extraordinary security meas
Published 06 Dec, 2011 12:00am
Cylinder blast creates panic in Lines Area

Cylinder blast creates panic in Lines Area

Tension heightened when a gas cylinder exploded at a shop situated in Lines Area late Monday, police and rescuers said. According to police and rescuers, the news of the blast, aired by different TV channels, created panic amid extraordinary security meas
Published 06 Dec, 2011 12:00am
US forces begin leaving Shamsi base

US forces begin leaving Shamsi base

US personnel have taken steps to evacuate a remote airfield in Pakistan that had been used for staging classified drone flights directed against militants, US and Pakistani sources said on Monday. Following a Nato airstrike last month during which 24 Paki
Published 06 Dec, 2011 12:00am
US forces begin leaving Shamsi base

US forces begin leaving Shamsi base

US personnel have taken steps to evacuate a remote airfield in Pakistan that had been used for staging classified drone flights directed against militants, US and Pakistani sources said on Monday. Following a Nato airstrike last month during which 24 Paki
Published 06 Dec, 2011 12:00am
'Saudi Arabia may join nuclear arms race'

'Saudi Arabia may join nuclear arms race'

Saudi Arabia may consider acquiring nuclear weapons to match regional rivals Israel and Iran, its former intelligence chief Prince Turki al-Faisal said on Monday. "Our efforts and those of the world have failed to convince Israel to abandon its weapons of
Published 06 Dec, 2011 12:00am
'Saudi Arabia may join nuclear arms race'

'Saudi Arabia may join nuclear arms race'

Saudi Arabia may consider acquiring nuclear weapons to match regional rivals Israel and Iran, its former intelligence chief Prince Turki al-Faisal said on Monday. "Our efforts and those of the world have failed to convince Israel to abandon its weapons of
Published 06 Dec, 2011 12:00am
BUKC sports week being organised from tomorrow

BUKC sports week being organised from tomorrow

Bharia University Karachi Campus (BUKC) is going to organising sports week from 7 to 13 December 2011. The opening ceremony of the event will be held on December 7, 2011 at the campus. BUKC Director, Air Commodore, Mazharul Haq will be the chief guest on
Published 06 Dec, 2011 12:00am
Lunda Bazaars: used clothes cause skin diseases

Lunda Bazaars: used clothes cause skin diseases

Lunda Bazaars, the only source for poor and the have-nots to meet their clothing needs usually in winters, were creating health hazards for its consumers. As a result of unprecedented economic slow down, majority of people have lost their purchasing power
Published 06 Dec, 2011 12:00am
Muharram procession taken out amid tight security

Muharram procession taken out amid tight security

The ninth Muharram procession of "alam-o-zuljinnah" was taken out at Sheenbagh amid tight security on Monday Morning. Sabeels of water and milk along with food stalls were set-up by local organisers at different points for the participants, while a specia
Published 06 Dec, 2011 12:00am
STDC's daily wage earners: regularisation case hangs in the balance

STDC's daily wage earners: regularisation case hangs in the balance

The summary of regularisation of 25 daily wage earners working in the Sindh Tourism Development Corporation (STDC) was pending with Chief Minister Sindh Syed Qaim Ali Shah for the last five months, Business Recorder learnt on Monday. Reliable sourc
Published 06 Dec, 2011 12:00am
Textile industry fears further cut in gas supply

Textile industry fears further cut in gas supply

Progressive decline in mercury is panicking the textile industry, as a drop in temperature below 10 degree centigrade would result into complete gas curtailment to the mills. It may be noted that the SNGPL has already slashed gas supply to the textile ind
Published 06 Dec, 2011 12:00am
Rs 935 million provided for social welfare: Anwar

Rs 935 million provided for social welfare: Anwar

With a view to attain the ultimate objective of welfare of downtrodden, an amount of Rs 935 million has been provided by Punjab government to ensure welfare of vulnerable groups including destitute women, senior citizens, children of deprived families and
Published 06 Dec, 2011 12:00am
No measures in view to raze 'dangerous' buildings

No measures in view to raze 'dangerous' buildings

Claiming every now and then of having torn down illegal structures in the city through press statements, Sindh Building Control Authority, regrettably, so far could not get vacated some 194 buildings, used for residential purpose, already declared 'danger
Published 06 Dec, 2011 12:00am
Ministry condemned for ignoring TMA

Ministry condemned for ignoring TMA

Towel Manufacturers' Association of Pakistan (TMA) has condemned Ministry of Textile Industry for ignoring the association in the meeting with all the stakeholders of the textile associations held in Islamabad recently. Chairman TMA, Feroze Alam Lari in a
Published 06 Dec, 2011 12:00am
Lion cubs death: special body fails to fulfil task

Lion cubs death: special body fails to fulfil task

The special monitoring committee set up by defunct City District Government (CDGK) with a mandate to submit its recommendation for improvement of health of captive animals of Karachi Zoological Garden has failed to accomplish its assigned job due to lack
Published 06 Dec, 2011 12:00am
Two suspects held

Two suspects held

Police claimed to have arrested two suspects from Cantonment Plaza for making movie at a time when the Ashura procession was passing through the area, sources said. According to a police official, the accused identified themselves as Inamul Haq son of Ham
Published 06 Dec, 2011 12:00am
Security arrangements for Muharram reviewed

Security arrangements for Muharram reviewed

Federal Interior Minister, A. Rehman Malik on Sunday visited Crisis Management Cell here and reviewed security arrangements made for Muharram-ul-Haram all over the country. Chairing a high level meeting held here at CMC, the minister directed the concerne
Published 06 Dec, 2011 12:00am
Youm-e-Ashur to be observed in AJK with religious fervour

Youm-e-Ashur to be observed in AJK with religious fervour

The Youm-e-Ashur, (10th day of Muharram-ul-Haram), the sanctified day of the global history and a unique icon of the supreme sacrifices rendered by Hazrat Imam Hussain (AS) and his companions for the cause of Islam, will be observed with full respect and
Published 06 Dec, 2011 12:00am
Hazrat Data Ganj Baksh: Ghusal ceremony of the Mazar held

Hazrat Data Ganj Baksh: Ghusal ceremony of the Mazar held

The 968th annual Ghusal ceremony of the Mazar of Al-Shaikh Al-Syed Ali Bin Usman Al-Hajveri known as Hazrat Data Ganj Baksh was held here on Monday. Punjab Chief Minister Shahbaz Sharif was the chief guest on this occasion. Provincial Minister for Auqaf H
Published 06 Dec, 2011 12:00am
Strict security measures observed on 9th Muharram

Strict security measures observed on 9th Muharram

Strict security measures were observed in the city here on Monday on 9th Muharram-ul-Haram. The main Ashura procession was taken out inside walled city. Police officials in civvies, cops from Elite and Mohafiz forces, mounted force, mobile squads were dep
Published 06 Dec, 2011 12:00am
Stroke termed main cause of severe disability in country

Stroke termed main cause of severe disability in country

Health professionals have termed stroke, which is caused by the blockade of blood vessels supplying the vital end organ the brain, as 'silent killer' and the second largest cause of severe disability in the country. They called for raising prevention and
Published 06 Dec, 2011 12:00am
LCCI, PHDCCI sign MoU on mutual cooperation

LCCI, PHDCCI sign MoU on mutual cooperation

The Lahore Chamber of Commerce and Industry and Punjab Haryana Delhi Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) for mutual co-operation and facilitation of exchange of information about the products, manufacturers of produ
Published 06 Dec, 2011 12:00am
Motorists being motivated to use environment-friendly equipment

Motorists being motivated to use environment-friendly equipment

People from different walks of life in general and motorists in particular in the provincial metropolis are these days being motivated to use fuel saving and environment friendly equipment in their vehicles for more power and mileage. This small equipment
Published 06 Dec, 2011 12:00am
Security arrangements beefed up in Faisalabad

Security arrangements beefed up in Faisalabad

Divisional administration has beefed up security arrangements in four district of Faisalabad Division to maintain law and order during Yaum-e-Ashur. Jhang city declared most sensitive area, where army troops did flag- march on Monday, while police sealed
Published 06 Dec, 2011 12:00am
Government urged to promulgate 'jute-mandatory packaging'

Government urged to promulgate 'jute-mandatory packaging'

The federal government should promulgate a 'jute mandatory packaging' order on the pattern of India and Bangladesh to save the shrinking domestic jute industry and creating more employment in the rural areas.
Published 06 Dec, 2011 12:00am
Chief minister Punjab pays tributes to martyrs of Karbala

Chief minister Punjab pays tributes to martyrs of Karbala

Punjab Chief Minister Shahbaz Sharif on Monday said the event of Karbala reminds us of supreme sacrifices rendered by Hazrat Imam Hussain (RA) and his companions for the cause of Islam. In his message on the eve of Youm-e-Ashura, he said the everlasting s
Published 06 Dec, 2011 12:00am
Kidnapping for ransom: trader gets child recovered for Rs three million

Kidnapping for ransom: trader gets child recovered for Rs three million

A trader of Lahore Ijaz Butt got recovered his five-year old son Talha after paying an amount of three million as ransom whereas police miserably failed to find any clue of the abductors. Talha was picked up by two motorcyclists on November 29 from outsid
Published 06 Dec, 2011 12:00am
445 processions, 3,644 Majalis held in Punjab

445 processions, 3,644 Majalis held in Punjab

As many as 445 mourning processions were taken out whereas 3,644 Majalis were held on 9th Muharram-ul-Haraam throughout the province in which zakareen paid homage to the philosophy of Imam Hussain (RA), his supreme sacrifice and religious steadfastness. T
Published 06 Dec, 2011 12:00am
Security measures for Ashura finalised

Security measures for Ashura finalised

The district administration Multan on Monday finalised security measures for Ashura, focusing on increased coordination between the concerned departments to maintain law and order in the city. Punjab Minister for Labour & Auqaf, Haji Ehsan-uddin Qureshi c
Published 06 Dec, 2011 12:00am
Saarc CCI body seeks to promote regional trade: Iftikhar Malik

Saarc CCI body seeks to promote regional trade: Iftikhar Malik

The South Asian Association for Regional Co-operation (Saarc) Chamber of Commerce and Industry (CCI)'s new executive body for the term 2012-13 are determined to promote trade among the 8-member Saarc countries, the third term Vice-President from Pakistan
Published 06 Dec, 2011 12:00am
'Wheat production this year may remain lower'

'Wheat production this year may remain lower'

AgriForum Pakistan citing reduction in sowing areas, lesser use of fertiliser and certified seed has predicted that wheat production this year may remain lower than the national requirement of 25 million tons. AgriForum Pakistan Chairman Muhammad Ibrahim
Published 06 Dec, 2011 12:00am
Training on dengue: experts leave for Thailand, Sri Lanka

Training on dengue: experts leave for Thailand, Sri Lanka

On the direction of Punjab Chief Minister Muhammad Shahbaz Sharif, a 110-member delegation consisting of entomologist, experts, doctors, nurses and officers and officials of different departments has left for Thailand and Sri Lanka for getting training on
Published 06 Dec, 2011 12:00am
Death anniversary of Khursheed Begum observed in Multan

Death anniversary of Khursheed Begum observed in Multan

Muttahida Qaumi Movement (MQM) on Monday observed the 26th death anniversary of Khursheed Begum, mother of Altaf Hussain, chief of MQM, on December 5,in Multan, Muzaffargarh, Bahawalpur, Dera Ghazi Khan, Khanewal, Lodhran, and rest of the country.
Published 06 Dec, 2011 12:00am
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