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Archive - 2011-12-13
IMF cuts Greece forecast
Top News

IMF cuts Greece forecast

WASHINGTON: The International Monetary Fund said on Tuesday it anticipates a deeper recession for Greece through 2012, b
Published 13 Dec, 2011 09:06pm
UBL to collect WASA Hyderabad bills
Top News

UBL to collect WASA Hyderabad bills

HYDERABAD: Water and Sanitation Authority (WASA) on Tuesday signed an agreement with United Bank Limited (UBL) to collec
Published 13 Dec, 2011 06:36pm
Transport master plan 2030: KMC
Top News

Transport master plan 2030: KMC

KARACHI: Administrator, Karachi Municipal Corporation, Muhammad Hussain Syed has underlined the need of coordinated meas
Published 13 Dec, 2011 05:58pm
US defence chief Panetta visits Kabul
Top News

US defence chief Panetta visits Kabul

KABUL: US Secretary of Defence Leon Panetta arrived in Kabul on Tuesday to reaffirm America's commitment to Afghanistan
Published 13 Dec, 2011 04:20pm
Gold plunges to Rs 48,000
Top News

Gold plunges to Rs 48,000

KARACHI: Gold plunged by Rs 428 to close at Rs 48,000 per 10 grams in the local market Tuesday, as its international pri
Published 13 Dec, 2011 03:42pm
SBP accepts Rs1.5bn bids
Top News

SBP accepts Rs1.5bn bids

KARACHI: State Bank of Pakistan in its open market operation in treasury bills has accepted bids for Rs 1.5 billion unde
Published 13 Dec, 2011 01:21pm
Remittances jumps by 18pc to $ 5.24 bn
Top News

Remittances jumps by 18pc to $ 5.24 bn

KARACHI: Overseas Pakistani workers remitted an amount of $ 5,239.99 million in the first five months (July-November 201
Published 13 Dec, 2011 11:40am
US drone now Iran's 'property'
Top News

US drone now Iran's 'property'

TEHRAN: A US drone captured by Iran is now the "property" of the Islamic republic, Defence Minister Ahmad Vahidi said Tu
Published 13 Dec, 2011 09:29am
Senate session starts
Pakistan

Senate session starts

ISLAMABAD: The Session of the Upper House of the Parliament started here on Tuesday at 11:03 am with the recitation from
Published 13 Dec, 2011 08:13am
Islamic banking posts 17.5pc growth
Top News

Islamic banking posts 17.5pc growth

RIZWAN BHATTI KARACHI : Islamic banking industry (IBI) continued to grow and it posted 17.5 percent growth in total a
Published 13 Dec, 2011 08:10am
Tokyo stocks down 1.17pc
Financial

Tokyo stocks down 1.17pc

TOKYO: Tokyo stocks lost 1.17 percent on Tuesday as exporters' shares weakened after the euro fell on doubts over the st
Published 13 Dec, 2011 07:43am
90pc wheat sowing completed in Punjab
Top News

90pc wheat sowing completed in Punjab

M RAFIQUE GORAYA LAHORE: Wheat crop has been sown over 15 million acres till 11th December in Punjab which is 90 perc
Published 13 Dec, 2011 06:30am
Syria crackdown toll over 5,000
Top News

Syria crackdown toll over 5,000

UNITED NATIONS: More than 5,000 people have now been killed in the government crackdown in Syria, UN rights chief Navi P
Published 13 Dec, 2011 06:00am
ECC allows 0.2mn tons of urea import
Top News

ECC allows 0.2mn tons of urea import

ZAHEER ABBASI ISLAMABAD : The Economic Coordination Committee (ECC) of the Cabinet Monday decided to import 200,000 t
Published 13 Dec, 2011 05:50am
Auto sales for November increase
Top News

Auto sales for November increase

RECORDER REPORT KARACHI : The auto sales for the month of November 2011 stood at 11,926 units against 11,765 units in
Published 13 Dec, 2011 05:32am
Vietnam Nov trade gap at $567mn
Top News

Vietnam Nov trade gap at $567mn

HANOI: Vietnam has revised down its trade deficit last month to $567 million from an estimate of $700 million late in No
Published 13 Dec, 2011 04:16am
FBR notification: Farida Amjad retiring on December 15

FBR notification: Farida Amjad retiring on December 15

On attaining the age of superannuation, Farida Amjad (IRS/BS-21) officer of Inland Revenue Service, presently posted as Chief Commissioner Inland Revenue, Regional Tax Office, Islamabad will stand retired from government service with effect from December
Published 13 Dec, 2011 12:00am
World book fair from December 16

World book fair from December 16

The 7th International Book Fair will be held here from December 16 to 20, 2011. The event would be organised at Karachi Expo Centre by the Pakistan Publishers and Booksellers Association (PPBA) in association with the National Book Foundation. The Chairma
Published 13 Dec, 2011 12:00am
Supreme Court tells provinces to provide jobs to eunuchs

Supreme Court tells provinces to provide jobs to eunuchs

The Supreme Court on Monday directed all the provinces to provide jobs to eunuchs so that they could lead their life in a respectable manner. A two-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry and Justice Khilji Arif was hearing a cons
Published 13 Dec, 2011 12:00am
Motorway accident - directs compensation payment to heirs

Motorway accident - directs compensation payment to heirs

The Supreme Court on Monday issued directives to government of Punjab, Motorway Police and concerned insurance companies to compensate heirs of 37 school children, and some staff members who died as a result of an accident while travelling in an overloade
Published 13 Dec, 2011 12:00am
Three more bodies found in Khuzdar

Three more bodies found in Khuzdar

Khuzdar police found three bodies, who had been shot dead from outskirts of Khuzdar Town, on Monday. Local police source said that a police party, working on information, took the bodies of three youth into the custody which were lying alongside RCD Highw
Published 13 Dec, 2011 12:00am
'Rs one billion to be spent on Malam Resort reconstruction'

'Rs one billion to be spent on Malam Resort reconstruction'

Khyber Pakhtunkhwa Minister for Sports, Tourism and Archaeology, Khyber Pakhtunkhwa, Aqil Shah has said that the provincial government is reconstructing Malam Jaba Resort and initiating chair-lift with the assistance of Switzerland and Australia at a cost
Published 13 Dec, 2011 12:00am
PTI workers clash over former MPA's joining party

PTI workers clash over former MPA's joining party

Rowdiest scenes engulfed the Central Secretariat of Pakistan Tehreek-e-Insaf Monday when former MPA Pervaiz Khattak entered the premises to join the party. The furious PTI workers held a protest in front of party central secretariat, saying that Khattak i
Published 13 Dec, 2011 12:00am
O-level studies 11-year-old Pakistani girl sets world record

O-level studies 11-year-old Pakistani girl sets world record

Sitara Akbar has set a world record by passing O-level English, Mathematics and Science, a private TV news channel reported on Monday. Brilliant young girl Sitara Akbar, who is only 11 years old and a resident of Chiniot, set a world record by passing O-l
Published 13 Dec, 2011 12:00am
Eurozone under threat

Eurozone under threat

France is facing the spectre of a downgrade in its AAA credit rating by an unprecedented two notches in the aftermath of the Thursday summit together with 13 other eurozone members. The reason: high indebtedness, coupled with low growth.
Published 13 Dec, 2011 12:00am
Protecting human rights activists

Protecting human rights activists

John Stuart Mill once said, "bad men, need nothing more to compass their ends, than that good men should look on and do nothing." It is indeed evil's triumph when it succeeds in muzzling the voices in support of justice and freedom. As the world observed
Published 13 Dec, 2011 12:00am
Solar power plant

Solar power plant

Pakistan's first Solar Photovoltaic (PV) Power Plant is being planned by Wah Industries in its own premises, in a village called Sanjwal, some 100 kms west of Islamabad. A tariff petition has been made with Nepra, which is the basis of most of the followi
Published 13 Dec, 2011 12:00am
German model underpins UN's 2012 'Year of the Cooperative'

German model underpins UN's 2012 'Year of the Cooperative'

Australia has created a coin to celebrate it, Mexico has emblazoned lottery tickets with its logo, and Germans the world over are happily providing examples of how they've made it work for their economy. The business breakthrough gaining attention is not
Published 13 Dec, 2011 12:00am
The parallel universe

The parallel universe

It is pertinent to emphasise that playing to the gallery is not a preferable option in regard to serious foreign policy issues. It requires cool introspection and not just anger. We have to use our cards prudently and avoid the propensity to over-emphasis
Published 13 Dec, 2011 12:00am
Film actor Ilyas Kashmiri remembered

Film actor Ilyas Kashmiri remembered

The fourth death anniversary of film actor Ilyas Kashmiri was observed on Monday. Kashmiri performed in more than 600 films in his over 50 years' career. He was born in Lahore in 1925. He started his career with the role of hero in 'Malika' from Bombay bu
Published 13 Dec, 2011 12:00am
Ban on gur export: MoC and FBR unaware of government decision

Ban on gur export: MoC and FBR unaware of government decision

The Federal Board of Revenue and the Ministry of Commerce are unaware of any decision of the federal government regarding imposition of ban on the export of gur (brown sugar - locally manufactured), as the Agriculture Department, Khyber Pakhtoonkhwa has c
Published 13 Dec, 2011 12:00am
Assistant PRO ISPR dies

Assistant PRO ISPR dies

Assistant PRO Inter Services Public Relations (ISPR) Major Shafaat died of cardiac arrest here on Monday. According to details Major Shafaat suffered an heart attacks today. He was taken to CMH but he could not recover. His dead body was shifted to Nichar
Published 13 Dec, 2011 12:00am
50 percent construction work of Afza flyover completed

50 percent construction work of Afza flyover completed

Minister for Commerce and Industries Sindh, Rauf Siddiqui, has said if funds will not stop the Afza Altaf flyover will open for traffic on February 15, 2012. He said 50 percent construction work of Afza Altaf flyover at Habib Bank Chowrangi has been compl
Published 13 Dec, 2011 12:00am
Kati condoles death of Mian Arshad

Kati condoles death of Mian Arshad

Patron-in-Chief Korangi Association of Trade and Industry (Kati), S M Muneer, Chairman Ehteshamuddin, Vice-Chairmen, Hasham A Razzak, Tariq Malik and former Chairman Mian Zahid Hussain have expressed their profound grief over sad demise of President Chini
Published 13 Dec, 2011 12:00am
PPP leadership to resolve public issues: Rehman

PPP leadership to resolve public issues: Rehman

Pakistan People's Party (PPP), under the dynamic leadership of President Asif Ali Zardari and PPP Chairman Bilawal Bhutto Zardari, is committed to resolving public issues in the country including Azad Jammu and Kashmir (AJK), Federal Minister for Interior
Published 13 Dec, 2011 12:00am
Telenor observes 'International Day of Persons with Disabilities'

Telenor observes 'International Day of Persons with Disabilities'

An awareness walk was held with the aim to promote a better understanding of disability issues and to raise awareness among the public about the rights of persons with disabilities. Telenor Pakistan sponsored the event as part of its Khuddar Pakistan prog
Published 13 Dec, 2011 12:00am
Pak-Iran border: LPG smuggling worries Ogra

Pak-Iran border: LPG smuggling worries Ogra

The Oil and Gas Regulatory Authority (Ogra) has expressed serious concern over smuggling of LPG cylinders from Iran and requested the Federal Board of Revenue (FBR) to immediately place special check at the Pak-Iran border to check illegal import of low q
Published 13 Dec, 2011 12:00am
First Habib Modaraba receives Certificate of Merit Award

First Habib Modaraba receives Certificate of Merit Award

South Asian Federation of Accountants (SAFA) in its award ceremony held in Dhaka Bangladesh, on 29th November, 2011, awarded a "Certificate of Merit Award" to First Habib Modaraba for "Best Presented Accounts" and "Corporate Governance Disclosures" for th
Published 13 Dec, 2011 12:00am
First Habib Modaraba receives Certificate of Merit Award

First Habib Modaraba receives Certificate of Merit Award

South Asian Federation of Accountants (SAFA) in its award ceremony held in Dhaka Bangladesh, on 29th November, 2011, awarded a "Certificate of Merit Award" to First Habib Modaraba for "Best Presented Accounts" and "Corporate Governance Disclosures" for th
Published 13 Dec, 2011 12:00am
Sindh Ombudsman set up Children Complaint Centre: Malik

Sindh Ombudsman set up Children Complaint Centre: Malik

Sindh Ombudsman office has established Children Complaint Center, provincial Ombudsman Asad Ashraf Malik told business community here on Monday. Addressing members of Karachi Chamber of Commerce and Industry (KCCI), he said that the provincial ombudsman h
Published 13 Dec, 2011 12:00am
Silkbank to launch Islamic Banking

Silkbank to launch Islamic Banking

Silkbank Limited has been granted a license by the State Bank of Pakistan (SBP) to commence its Islamic Banking operations in Pakistan. It is a result of strong financial growth in their existing conventional banking system that they will venture in estab
Published 13 Dec, 2011 12:00am
Promoting freedom of expression through caricatures

Promoting freedom of expression through caricatures

"We have the right to speak, express our thoughts, be heard and above all, have the right to make choices" were the words uttered by Shaista, a student of grade 8, Government School, Zamzama on the occasion of Human Rights Day. The event Human Rights Day
Published 13 Dec, 2011 12:00am
Two persons fall prey to targeted killing

Two persons fall prey to targeted killing

At least two persons including an estate agent were fallen prey to targeted killing spree in separate incidents here on Monday. According to police and rescue sources, a real estate agent was shot dead while other injured at Perfume Chowk Gulistan Jauhar
Published 13 Dec, 2011 12:00am
Four alleged notorious criminals held

Four alleged notorious criminals held

Sindh police on Monday claimed to have arrested four notorious criminals after separate brief encounters and recovered substantial quantity of weapons. According to police sources, three suspects were apprehended during search at Baloch Goth Orangi Town.
Published 13 Dec, 2011 12:00am
SRB collecting Rs 2 billion taxes per month

SRB collecting Rs 2 billion taxes per month

The Sindh Revenue Board (SRB) is collecting Rs 2 billion taxes per month. "So far we have collected Rs 8 billion and by the end of current month Rs 10 billion collection would be made," SRB Chairman Nazar Hussain Mahar told a high-level meeting regarding
Published 13 Dec, 2011 12:00am
Annual Corporate Philanthropy Awards' ceremony on December 15

Annual Corporate Philanthropy Awards' ceremony on December 15

Pakistan Centre for Philanthropy (PCP), an Islamabad based Civil Society Organisation, specialising in the support and facilitation of philanthropy, is holding its annual Corporate Philanthropy Awards' ceremony on Thursday, 15th December at Sheraton Hotel
Published 13 Dec, 2011 12:00am
Industrialists urge government to take over KESC management

Industrialists urge government to take over KESC management

The President of Karachi Chamber of Commerce and Industry (KCCI), Abrar Ahmed, and the leader of Businessmen Group, Siraj Kassam Teli, along with officer-bearers and chairmen of seven towns industrial associations have urged the government to take over th
Published 13 Dec, 2011 12:00am
British Alumni Association Jamshoro chapter at MUET launched

British Alumni Association Jamshoro chapter at MUET launched

The Vice Chancellor Mehran University of Engineering and Technology, Jamshoro Dr Abdul Qadeer Khan Rajput has said that the establishment of Birtish Alumnai Association of Pakistan Education City in Jamshoro chapter, MUET, is a good omen and opportunity t
Published 13 Dec, 2011 12:00am
Emirates launches OnAir connectivity services

Emirates launches OnAir connectivity services

Customers on a growing number of Emirates A380s can now surf, share, email, or tweet their way across the Emirates network as the airline launches Wi-Fi internet connectivity with leading industry service provider, OnAir. Customers can access the service
Published 13 Dec, 2011 12:00am
Emirates launches OnAir connectivity services

Emirates launches OnAir connectivity services

Customers on a growing number of Emirates A380s can now surf, share, email, or tweet their way across the Emirates network as the airline launches Wi-Fi internet connectivity with leading industry service provider, OnAir. Customers can access the service
Published 13 Dec, 2011 12:00am
'Government will provide jobs to unemployed youth'

'Government will provide jobs to unemployed youth'

It is the endeavour of the elected government to provide jobs to the unemployed youth of the country under the party's programme and President of Pakistan and Co-chairman PPP, Asif Ali Zardari, had directed to take effective measures in this regard. This
Published 13 Dec, 2011 12:00am
Prime Minister reviews upcoming hydel power projects

Prime Minister reviews upcoming hydel power projects

Prime Minister Syed Yousuf Raza Gilani on Monday appreciated the ministries of water and power, finance, petroleum, Wapda and others for doing excellent work during this season as the people of the country and the industrial sector had to face minimum pos
Published 13 Dec, 2011 12:00am
Iftikhar Gilani meets Imran, may join PTI

Iftikhar Gilani meets Imran, may join PTI

Former Pakistan People's Party (PPP) stalwart Syed Iftikhar Hussain Gilani on Monday held an hour long one-on-one meeting with Pakistan Tehreek-e-Insaf (PTI) chief, Imran Khan. The meeting took place at the residence of Dr Shireen Mazari, PTI Vice Preside
Published 13 Dec, 2011 12:00am
Afaq indicted in kidnapping for ransom case

Afaq indicted in kidnapping for ransom case

Anti Terrorism Court (ATC-II) headed by Judge Khalida Yaseen on Monday framed charges against Afaq Ahmed, Chairman Mahajir Qaumi Movement (MQM-H) in kidnapping for ransom case registered in the year 2001. Afaq Ahmed pleaded not guilty in the case that was
Published 13 Dec, 2011 12:00am
Philip Morris (Pakistan) Limited

Philip Morris (Pakistan) Limited

Amongst the two multinational tobacco companies in Pakistan, Philip Morris Pakistan Limited (formerly known as Lakson Tobacco) stands at number two to Pakistan Tobacco Company. Philip Morris Pakistan Limited is a public listed company on the Karachi and L
Published 13 Dec, 2011 12:00am
Philip Morris (Pakistan) Limited

Philip Morris (Pakistan) Limited

Amongst the two multinational tobacco companies in Pakistan, Philip Morris Pakistan Limited (formerly known as Lakson Tobacco) stands at number two to Pakistan Tobacco Company. Philip Morris Pakistan Limited is a public listed company on the Karachi and L
Published 13 Dec, 2011 12:00am
Railways financial crisis aggravating persistently: report

Railways financial crisis aggravating persistently: report

Pakistan Railways (PR) is in the grip of serious financial crisis which is persistently aggravating due to decline in the earnings caused mainly by the non-availability of locomotives, hike in diesel price, reduction in the number of passengers and goods
Published 13 Dec, 2011 12:00am
CNG stations close for three days

CNG stations close for three days

All the CNG filling stations in Lahore, Gujranwala, Multan and Sahiwal regions closed for three days from Monday to Wednesday to comply with gas shortage management plan. People faced problems in reaching their destinations due to dearth of public transpo
Published 13 Dec, 2011 12:00am
'Commonwealth promoting women in business'

'Commonwealth promoting women in business'

Australian High Commissioner Tim George on Monday highlighted the role of the Commonwealth in promoting women in business. He was addressing a reception hosted by him at his Islamabad residence to highlight the outcomes of the Commonwealth Heads of Govern
Published 13 Dec, 2011 12:00am
Aptma vows to defy four-day gas curtailment

Aptma vows to defy four-day gas curtailment

All Pakistan Textile Mills Association (Aptma) has decided to protest against the SNGPL if gas supply is curtailed for four days in Punjab. "We will be on the roads if they closed for four days," said the fiery Aptma group leader Gohar Ejaz in a press con
Published 13 Dec, 2011 12:00am
US MIDDAY: gold drops three percent

US MIDDAY: gold drops three percent

Gold tumbled 3 percent on Monday, headed for its largest one-day drop in nearly three months, as a dollar surge amid doubts over the eurozone triggered a technical breakdown. A bout of heavy sell-stops below $1,700 an ounce sent the metal to its lowest le
Published 13 Dec, 2011 12:00am
US MIDDAY: copper slides

US MIDDAY: copper slides

Copper hit a near two-week low on Monday, pressured by worries about weaker demand for industrial metals as a European summit deal to strengthen budget discipline failed to soothe market fears of a deepening debt crisis and a potential regional recession.
Published 13 Dec, 2011 12:00am
US MIDDAY: corn and soya weaken

US MIDDAY: corn and soya weaken

Chicago Board of Trade corn and soyabean futures weakened on Monday but recovered from lows put in early in the session as a wave of bargain buying hit the beaten-down grains markets, traders said. Wheat prices edged higher after their weak open despite a
Published 13 Dec, 2011 12:00am
Gold falls in London

Gold falls in London

Gold was set for its biggest one-day fall in three months on Monday, under pressure from a robust dollar, which in turn choked off demand from consumers in key regions such as India. Last week's summit of European Union leaders yielded a historic agreemen
Published 13 Dec, 2011 12:00am
Gold falls over one percent in Asia

Gold falls over one percent in Asia

Gold prices fell more than 1 percent on Monday on technical selling and concerns that the European Union summit had stopped short of producing a convincing plan to solve the eurozone debt crisis. The approaching year-end and funding difficulties caused by
Published 13 Dec, 2011 12:00am
Cocoa soars after Olam deficit report

Cocoa soars after Olam deficit report

Cocoa futures rallied Monday after commodity house Olam forecast a cocoa deficit in 2012, sparking a short-covering surge following a fresh fall in bean values to a 3-year low earlier in the session. Gerry Manley, the head of cocoa in Olam International,
Published 13 Dec, 2011 12:00am
Palm oil futures fall to one-month low

Palm oil futures fall to one-month low

Palm futures fell to their lowest level in more than a month on Monday, tracking comparative oils lower as investors continued to fret about European debt, but expectations of a heavy rainy season helped cap losses. Financial markets gave the thumbs down
Published 13 Dec, 2011 12:00am
Tokyo rubber down; Shanghai contract plunges

Tokyo rubber down; Shanghai contract plunges

Key Tokyo rubber futures ended down 1.2 percent on Monday as declines in oil and other commodities and a fall in the euro made investors wary amid concerns that Europe's pact on closer fiscal union may not be enough to contain its debt crisis. The key Tok
Published 13 Dec, 2011 12:00am
Oil prices slip on eurozone worry

Oil prices slip on eurozone worry

Oil prices fell on Monday, pressured by concerns that Europe's agreement on closer fiscal union will not solve its debt crisis and might deepen a regional slowdown. The euro, stock markets and gold all tumbled, while the dollar, German bund futures and US
Published 13 Dec, 2011 12:00am
Copper slides

Copper slides

Copper hit a near two-week low on Monday, pressured by worries about weaker demand for industrial metals as Europe's move towards greater economic integration failed to calm fears of a deepening debt crisis and a potential regional recession. The downbeat
Published 13 Dec, 2011 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded February copper contract on the Shanghai Futures Exchange slipped 0.3 percent to 56,930 yuan a tonne. China's copper imports in November reached their highest level since March 2010, rising 17.9 percent on the month to 452,022 tonnes, prel
Published 13 Dec, 2011 12:00am
China's LME entry to boost more than harm traders

China's LME entry to boost more than harm traders

A bastion of old London trading will meet a new global economic force next year when the London Metal Exchange is expected to admit a top Chinese bank, and for LME traders the benefits of an enlarged market are likely to outweigh share lost to the newcome
Published 13 Dec, 2011 12:00am
Iraq has 'enduring partner' in US, Obama vows

Iraq has 'enduring partner' in US, Obama vows

President Barack Obama vowed Monday that Iraq had "an enduring partner" in the United States after meeting Iraqi Prime Minister Nuri al-Maliki as America marks its exit from a nine-year war launched to oust Saddam Hussein. "After nearly nine years, our wa
Published 13 Dec, 2011 12:00am
We have asked Iran to return downed US drone

We have asked Iran to return downed US drone

President Barack Obama on Monday said the US government had requested the return of a spy drone downed over Iran but declined to discuss if its loss could compromise US national security. "We have asked for it back. We'll see how the Iranians respond," Ob
Published 13 Dec, 2011 12:00am
Saudi crown prince meets Iran intelligence minister

Saudi crown prince meets Iran intelligence minister

Crown Prince Nayef bin Abdul Aziz met with Iranian Intelligence Minister Heydar Moslehi on Monday at a time of strained relations between their two Gulf states, the Saudi Press Agency reported. Riyadh has accused Tehran of interfering in neighbouring Arab
Published 13 Dec, 2011 12:00am
UN warns land corruption hurting development

UN warns land corruption hurting development

The UN's Food and Agriculture Organisation (FAO) warned in a new study Monday that corruption in land sales in the developing world was hampering food security and economic growth. The study, conducted with anti-corruption watchdog Transparency Internatio
Published 13 Dec, 2011 12:00am
Israel closes access ramp to Al-Aqsa compound

Israel closes access ramp to Al-Aqsa compound

Israel has closed a controversial wooden access ramp to Jerusalem's Al-Aqsa mosque compound over public safety concerns, police said on Monday, in a move that quickly sparked Palestinian anger. "Based on an order from the city council, they have closed th
Published 13 Dec, 2011 12:00am
Final okay to new West Bank settler homes

Final okay to new West Bank settler homes

Israel has given final approval to the building of 40 new homes at a settlement in the occupied West Bank to replace temporary structures there, the settlement's council head said on Monday. Israeli-Palestinian peace talks collapsed over a year ago in a d
Published 13 Dec, 2011 12:00am
Former strongman Noriega behind bars in Panama

Former strongman Noriega behind bars in Panama

Former strongman Manuel Noriega was behind bars in Panama Monday, a day after returning to his homeland following more than two decades in jail in the United States and France for drug trafficking and money laundering. Noriega's relatives said they were g
Published 13 Dec, 2011 12:00am
Seven dead in steel factory explosion in Iran

Seven dead in steel factory explosion in Iran

Seven workers died and at least a dozen others were injured when a melting furnace in an Iranian steel factory exploded, officials told Iranian media Monday. "Several of those killed were foreign nationals," Azizollah Seifi, the governor of the central Ya
Published 13 Dec, 2011 12:00am
Nato announces end of training mission in Iraq

Nato announces end of training mission in Iraq

Nato secretary general Anders Fogh Rasmussen on Monday announced that a mission to train Iraqi security forces will end at the turn of the year. "The North Atlantic Council has decided to undertake the permanent withdrawal of the Nato Training Mission-Ira
Published 13 Dec, 2011 12:00am
Explosive parcel sent to Greek embassy in Paris

Explosive parcel sent to Greek embassy in Paris

French bomb disposal experts carried out a controlled explosion on a package containing explosives which was sent anonymously to the Greek embassy in Paris, an embassy spokesman said on Monday. The spokesman said the package appeared to have been sent fro
Published 13 Dec, 2011 12:00am
Bullets mailed to Italy justice minister, Rome's mayor

Bullets mailed to Italy justice minister, Rome's mayor

Italy's Justice Minister Paola Severino has been sent a letter with a bullet and a threatening letter, her spokesman said on Monday, days after a mail bomb exploded at a tax collection office in Rome, injuring an official. Two bullets and a message were a
Published 13 Dec, 2011 12:00am
Syrians urged to vote despite violence

Syrians urged to vote despite violence

Prime Minister Adel Safar urged Syrians to vote in local elections on Monday to save the nation from "conspiracies against us" but activists struggling to oust President Bashar-al Assad rejected the ballot as irrelevant at a time of violent unrest. As vot
Published 13 Dec, 2011 12:00am
Tunisia installs former dissident as president

Tunisia installs former dissident as president

Tunisia on Monday installed as its new president a former dissident who was imprisoned and then exiled for opposing former President Zine al-Abidine Ben Ali, a new landmark in the country's post-revolutionary transition to democracy. Members of the consti
Published 13 Dec, 2011 12:00am
Chavez launches cash giveaway for poor kids

Chavez launches cash giveaway for poor kids

President Hugo Chavez's government launched on Monday a new programme to provide $100 a month to poor Venezuelan children in the latest of a plethora of social "missions" that have underpinned his popularity. Chavez, who seeks re-election in 2012, says su
Published 13 Dec, 2011 12:00am
New Delhi's 100th birthday gets barely a nod

New Delhi's 100th birthday gets barely a nod

The Indian capital of New Delhi marked its 100th birthday on Monday without any official celebrations of a day that revives memories of British rule over the country. On December 12, 1911, visiting King George V told crowds at an elaborate imperial ceremo
Published 13 Dec, 2011 12:00am
11 killed in South Sudan's Jonglei

11 killed in South Sudan's Jonglei

Eleven people have been killed in new attacks in South Sudan's troubled Jonglei state, where nearly 40 people died in tribal violence last week, the state's governor said on Monday. Suspected rebels under the command of renegade general George Athor attac
Published 13 Dec, 2011 12:00am
ICC elects African as new chief prosecutor

ICC elects African as new chief prosecutor

International Criminal Court member states on Monday unanimously elected Fatou Bensouda of Gambia as the new chief prosecutor of the main genocide and war crimes tribunal. Bensouda said it was "humbling" to be named to the post, which has become one of th
Published 13 Dec, 2011 12:00am
India can beat Australia: Dhoni

India can beat Australia: Dhoni

India can beat Michael Clarke's struggling team and win their first Test series in Australia if they play to their potential, skipper Mahendra Singh Dhoni said Monday. "The team is looking good and can beat Australia," Dhoni told reporters in Chennai ahea
Published 13 Dec, 2011 12:00am
Razzaq, Afridi gear up with Australia stint

Razzaq, Afridi gear up with Australia stint

Pakistan all-rounders Shahid Afridi and Abdul Razzaq expressed hope Monday that their Twenty20 stint in Australia would stand them in good stead to beat England next month. Thirty-one-year-old Razzaq missed Pakistan's One-day series against Bangladesh due
Published 13 Dec, 2011 12:00am
IPL-style hockey event in India put off

IPL-style hockey event in India put off

A lucrative, but unsanctioned, field hockey tournament due to start this month along the lines of cricket's Indian Premier League has been postponed, organisers said on Monday. The multi-million-dollar World Series Hockey, promoted by the unrecognised Ind
Published 13 Dec, 2011 12:00am
Kiwis first win in Australia in 26 years

Kiwis first win in Australia in 26 years

Doug Bracewell bowled New Zealand to a sensational seven-run victory over Australia in the second Test in Hobart on Monday for the Kiwis' first win in Australia for 26 years. The Black Caps claimed eight wickets for 74 runs to claim a dramatic victory mid
Published 13 Dec, 2011 12:00am
China to play hockey series in Pakistan

China to play hockey series in Pakistan

Pakistan will welcome the Chinese hockey team for a four-match series this month, keen to encourage international sport back to the terror-hit country, an official said Monday. Foreign teams have avoided Pakistan since gunmen attacked the Sri Lankan crick
Published 13 Dec, 2011 12:00am
NBP-sponsored Asian Shidokan Karate Tournament

NBP-sponsored Asian Shidokan Karate Tournament

Six countries Japan, Nepal, Sri Lanka, Afghanistan, Bangladesh and Pakistan participated in NBP sponsored 3rd Asian The Shidokan Karate Tournament, the tournament was held on December 11, 2011 in Benazir Sports Club in Karachi. Pakistan attained top posit
Published 13 Dec, 2011 12:00am
Rehman pushes Pakistan win Chittagong Test

Rehman pushes Pakistan win Chittagong Test

Left-arm spinner Abdur Rehman took three wickets early on Monday to help push Pakistan to an innings and 184-run win over Bangladesh in the first test in Chittagong. Rehman ended the resistance of Mushfiqur Rahim (49) an hour into the second session on th
Published 13 Dec, 2011 12:00am
Yasir falls in tense Florida Open semis

Yasir falls in tense Florida Open semis

Lahore based 23-year-old Yasir Butt gave tough resistance to favourite Columbian Miguel Angel Rodriguez in the semi-finals of Betty F Griffin Memorial Florida State Open before losing in a marathon five-set encounter in the semi-finals of the PSA World To
Published 13 Dec, 2011 12:00am
Most Asian currencies dip

Most Asian currencies dip

Most emerging Asian currencies dipped on Monday on worries that the last week's European summit deal does little to tackle the current debt crisis, while the Indian rupee extended losses after a surprising large contraction in industrial output.
Published 13 Dec, 2011 12:00am
Money markets: demand for three-year ECB cash could be high

Money markets: demand for three-year ECB cash could be high

Take-up at the ECB's new three-year tender should be reasonable and could be high, with money market funding tensions likely to increase if Standard & Poor's goes ahead with a threatened downgrade of most eurozone countries. The European Central Bank will
Published 13 Dec, 2011 12:00am
Indian rupee hits record low

Indian rupee hits record low

The Indian rupee dived to its lowest level ever on Monday as investors sought refuge in the dollar after factory output data pointed to a further slowdown in Asia's third-largest economy. Traders said further falls were likely after the partially converti
Published 13 Dec, 2011 12:00am
Yuan rises

Yuan rises

The yuan ended up against the dollar on Monday as the People's Bank of China set the mid-point at a one-month high, but the Chinese currency hit the weaker end of its daily trading band on uncertainty over how much room there is for the yuan to rise. Spot
Published 13 Dec, 2011 12:00am
Australian and New Zealand dollars on the defensive

Australian and New Zealand dollars on the defensive

The Australian and New Zealand dollars were subdued on Monday as investors reacted cautiously to the latest eurozone fiscal union agreement which many doubted would fix the region's debt woes, at least in the near term. The Aussie had a soft tone all sess
Published 13 Dec, 2011 12:00am
Euro falls in London

Euro falls in London

The euro fell on Monday and it looked likely to stay under pressure as disappointed investors renewed selling of Italian and other government bonds after a summit aimed at ending two years of crisis in the eurozone. European Union states barring Britain d
Published 13 Dec, 2011 12:00am
Early trade in New York: Euro plummets to fresh two month low

Early trade in New York: Euro plummets to fresh two month low

The euro slipped to a fresh two month low against the dollar on Monday after ratings agency Fitch said the recent European Union summit did little to ease the eurozone sovereign debt crisis. The euro was last down 1.4 percent at $1.3182, after touching a
Published 13 Dec, 2011 12:00am
Euro slips in Asia

Euro slips in Asia

The euro slipped in Asia on Monday, and was expected to struggle going into the year-end after the European Union agreed on deeper economic integration but fell short of a convincing plan to deal a decisive blow to the region's debt woes. The currency fel
Published 13 Dec, 2011 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

Sterling climbed to a nine-month high against the euro on Monday as the common currency came under heavy selling pressure, with investors concluding last week's EU summit made limited progress towards solving the eurozone debt crisis. The euro fell as low
Published 13 Dec, 2011 12:00am
European deal doubts take toll on FTSE

European deal doubts take toll on FTSE

Britain's FTSE 100 fell in light volume on Monday, with investors selling riskier banking and mining assets as analysts concluded the lack of detail in a European deal on fiscal union left question marks over its long-term plausibility. London's blue chip
Published 13 Dec, 2011 12:00am
Australian shares advance

Australian shares advance

Australian shares advanced 1.2 percent on Monday but finished off their highs as investors focused on the hurdles ahead for Europe after a eurozone summit, and some softer Chinese import and Australian export data. Analysts cautioned even after the eurozo
Published 13 Dec, 2011 12:00am
Seoul shares higher

Seoul shares higher

Seoul shares closed higher on Monday, backed by a European summit agreement tightening the region's fiscal union and bolstering the IMF's bailout capacity, but sentiment remained fragile on doubts the measures will prove to be enough. The Korea Composite
Published 13 Dec, 2011 12:00am
European shares fall to three-week low

European shares fall to three-week low

European shares posted their biggest fall in three weeks on Monday as investors worried the measures outlined at last week's EU summit to strengthen budget discipline would be of only limited value in resolving the eurozone debt crisis. "The measures were
Published 13 Dec, 2011 12:00am
Nikkei average gains

Nikkei average gains

The Nikkei average gained on Monday after European leaders agreed to draft a new treaty for deeper economic integration, but market players said the short-covering bounce may not last as the deal was no panacea for the region's long-term debt worries. The
Published 13 Dec, 2011 12:00am
Major Southeast Asian markets up

Major Southeast Asian markets up

Major Southeast Asian stock markets rose on Monday on the European Union's deal to pursue stricter budget rules, but investors remained cautious and concerned about whether Europe is taking sufficient steps to resolve its debt crisis. Indonesia gained 0.9
Published 13 Dec, 2011 12:00am
Indian shares tumble

Indian shares tumble

Indian shares slipped 2.12 percent to a two-week closing low on Monday after a sharper-than-expected fall in the country's October industrial output compounded concerns over slowing economic growth. The 30-share BSE index closed 343.11 points down at 15,8
Published 13 Dec, 2011 12:00am
German state seeks changes to Deutsche Boerse, NYSE deal

German state seeks changes to Deutsche Boerse, NYSE deal

A regional regulator said it had raised some objections to exchange operator Deutsche Boerse's take-over of NYSE Euronext and was awaiting a reply. "There are legal reservations about the deal," the Hessian Ministry of Economics said in an e-mailed statem
Published 13 Dec, 2011 12:00am
Monday's early trade: Wall Street slides

Monday's early trade: Wall Street slides

US stocks fell about 2 percent Monday on lingering worries over a deal for economic integration in Europe and after Intel cut its revenue outlook. The decline was broad, with all l0 S&P industry groups in negative territory.
Published 13 Dec, 2011 12:00am
Shanghai index sinks to 33-month low; Hong Kong shares down

Shanghai index sinks to 33-month low; Hong Kong shares down

Hong Kong shares reversed early gains to end 0.1 percent lower on Monday as the Shanghai Composite Index closed at its lowest since March 2009 on doubts that Beijing will loosen monetary policy enough to cause a growth spurt.
Published 13 Dec, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.81 percent on Monday, joining regional bourses in post eurozone deal gains, with Hon Hai Precision and chip maker TSMC higher after announcing November sales results. But construction shares plunged 3.05 percent on a media report that
Published 13 Dec, 2011 12:00am
Eurozone fiscal pact fails to restore confidence

Eurozone fiscal pact fails to restore confidence

A European summit deal to strengthen budget discipline in the eurozone failed to restore financial market confidence on Monday, forcing the European Central Bank to step in again gingerly. The euro fell, stocks slid and borrowing costs for Italy and Spain
Published 13 Dec, 2011 12:00am
Greece hopes for end-January debt swap deal

Greece hopes for end-January debt swap deal

Greece wants to move fast in bailout talks with the EU, IMF and bankers, Finance Minister Evangelos Venizelos said on Monday, reaffirming the aim of clinching a voluntary debt restructuring deal by end-January before the country heads to elections. "We wi
Published 13 Dec, 2011 12:00am
Italy starts strikes against Monti's austerity

Italy starts strikes against Monti's austerity

Italy began a week of strikes by the three biggest labour unions against Prime Minister Mario Monti's 33-billion-euro austerity package, which the government may soften slightly to meet some of their demands. Port, highway, and haulage personnel stopped w
Published 13 Dec, 2011 12:00am
Anti-Wall Street activists rally at US West Coast ports

Anti-Wall Street activists rally at US West Coast ports

About 1,000 protesters chanting in the predawn darkness marched on the Port of Oakland on Monday in one of several rallies planned for West Coast cargo hubs by anti-Wall Street activists seeking to re-energise their movement. By trying to disrupt port tra
Published 13 Dec, 2011 12:00am
Indian police charge Essar, Loop executives in telecoms case

Indian police charge Essar, Loop executives in telecoms case

India's federal police filed fraud charges against five executives at Essar Group and Loop Telecom on Monday, as part of a sprawling probe into a multi-billion-dollar telecoms case that has rocked the country's political and business establishments.
Published 13 Dec, 2011 12:00am
LSE snaps up Pearson's FTSE stake

LSE snaps up Pearson's FTSE stake

The London Stock Exchange is buying British publisher Pearson's 50 percent stake in FTSE International for 450 million pounds ($703 million) to take full control of the index firm and ramp up its derivatives business. The LSE, which already owns half of F
Published 13 Dec, 2011 12:00am
SEC sues GlaxoSmithKline unit

SEC sues GlaxoSmithKline unit

US securities regulators charged a unit of pharmaceutical giant GlaxoSmithKline and its former chief executive and chairman with defrauding employees in the company's stock plan by buying back their stock at undervalued prices. In a civil suit filed in So
Published 13 Dec, 2011 12:00am
SEC sues GlaxoSmithKline unit

SEC sues GlaxoSmithKline unit

US securities regulators charged a unit of pharmaceutical giant GlaxoSmithKline and its former chief executive and chairman with defrauding employees in the company's stock plan by buying back their stock at undervalued prices. In a civil suit filed in So
Published 13 Dec, 2011 12:00am
OECD indicator signals deeper slowdown

OECD indicator signals deeper slowdown

All major economies are losing momentum, the Organisation for Economic Cooperation and Development said on Monday, with activity across the think tank's member countries at its weakest in two years. While no respite is in sight for eurozone countries, the
Published 13 Dec, 2011 12:00am
India's industrial output slumps

India's industrial output slumps

India's industrial output fell in October for the first time in more than two years as capital goods investment slumped, ramping up pressure on the central bank to ease monetary or liquidity conditions, possibly as soon as Friday. Production at factories,
Published 13 Dec, 2011 12:00am
Opec likely to remain the quota-less cartel

Opec likely to remain the quota-less cartel

Opec is unlikely to update its obsolete individual oil output quotas when it meets on Wednesday, Opec delegates said, deferring the thorny subject to 2012 or later. The group last changed its group limit in December 2008, setting quotas for 11 members exc
Published 13 Dec, 2011 12:00am
Summit failure increases pressure on ratings: Fitch

Summit failure increases pressure on ratings: Fitch

Fitch Ratings on Monday said failure by EU leaders to come up with a "comprehensive" solution to the region's debt crisis has increased short-term pressure on ratings of eurozone countries. EU leaders on Friday secured a historic agreement to draft a new
Published 13 Dec, 2011 12:00am
Intel fourth quarter hit by hard disk drive supply shortage

Intel fourth quarter hit by hard disk drive supply shortage

Intel Corp warned that fourth-quarter results would miss its previous forecast due to hard disk drive supply shortages caused by floods in Thailand. Thailand said last month that output of hard disk drives fell 52.4 percent in October from a year earlier
Published 13 Dec, 2011 12:00am
Japan's wholesale prices climb

Japan's wholesale prices climb

Japanese wholesale prices rose at a faster pace than expected in November due to higher energy costs, but a firm yen and weak domestic demand will likely curb price increases ahead, suggesting the economy will continue to struggle with deflation. Wholesal
Published 13 Dec, 2011 12:00am
Turkish GDP surge raises doubts over soft landing

Turkish GDP surge raises doubts over soft landing

The Turkish economy expanded a hefty 8.2 percent in the third quarter, beating analysts' forecasts and offering little evidence that measures to engineer a slowdown have been successful. Turkey has been posting strong growth, but analysts are concerned ab
Published 13 Dec, 2011 12:00am
Prices show stable trend on cotton market

Prices show stable trend on cotton market

Purchasing by mills and exporters helped the rates to resist further erosion on the cotton market on Monday, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,300, they said.
Published 13 Dec, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was slightly lower while the January contract was unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The December contract that had ended at Rs 1305.10 opened with a marginal fall of 10 pai
Published 13 Dec, 2011 12:00am
Bangladesh delays tender for 50,000 tonnes of wheat

Bangladesh delays tender for 50,000 tonnes of wheat

Bangladesh's state grains buyer has delayed by 10 days the opening date for a tender to buy 50,000 tonnes of wheat due to storage constraints, a procurement official said on Monday. "The new date for the opening of offers will be December 22 instead of De
Published 13 Dec, 2011 12:00am
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