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Archive - 2011-12-14
Zardari leaves Dubai hospital
Top News

Zardari leaves Dubai hospital

ISLAMABAD: President Asif Ali Zardari was discharged from a Dubai hospital on Wednesday night, the official Associated P
Published 14 Dec, 2011 09:05pm
President to be discharged tomorrow
Top News

President to be discharged tomorrow

ISLAMABAD: President Asif Ali Zardari will be discharged on Thursday from a Dubai hospital where he has spent more than
Published 14 Dec, 2011 01:36pm
President to be discharged tomorrow
Top News

President to be discharged tomorrow

ISLAMABAD: President Asif Ali Zardari will be discharged on Thursday from a Dubai hospital where he has spent more than
Published 14 Dec, 2011 01:35pm
UN asks for $7.7bn in 2012 aid funding
Top News

UN asks for $7.7bn in 2012 aid funding

GENEVA: The United Nations said on Wednesday it needed $7.7 billion in aid funding for 16 countries next year, with the
Published 14 Dec, 2011 11:28am
Panetta says US winning in Afghanistan
Top News

Panetta says US winning in Afghanistan

FOB SHARANA: Defense chief Leon Panetta told US troops Wednesday they were winning the 10-year war in Afghanistan , d
Published 14 Dec, 2011 09:11am
Oil lower ahead of OPEC meeting
Energy

Oil lower ahead of OPEC meeting

SINGAPORE: Oil was lower in Asia Wednesday, dampened by worries that the eurozone debt crisis has showed no signs of eas
Published 14 Dec, 2011 05:52am
18.33pc rise in July-Nov remittances
Top News

18.33pc rise in July-Nov remittances

RECORDER REPORT KARACHI : Remittances sent by overseas Pakistanis posted a notable growth of 18.33 percent during fiv
Published 14 Dec, 2011 04:53am
CGT: Don ask, don tell?
BR Research

CGT: Don ask, don tell?

The quiet halls of the Karachi Stock Exchange are abuzz with speculation once again. As representatives of various brokerage concerns lobby
Published 14 Dec, 2011 12:00am
More than the year-end anomaly
BR Research

More than the year-end anomaly

The robust growth experienced by the auto sector in the 1QFY12 persisted in the second quarter. Despite fuelling inflation, worsening econom
Published 14 Dec, 2011 12:00am
Scientists home in on missing link of physics

Scientists home in on missing link of physics

International scientists said on Tuesday they had found signs of the Higgs boson, an elementary sub-atomic particle believed to have played a vital role in the creation of the universe after the Big Bang. Peter Higgs, the 82-year-old British theoretical p
Published 14 Dec, 2011 12:00am
Obama should apologise for downed drone: Iran

Obama should apologise for downed drone: Iran

US President Barack Obama should apologise for sending an unmanned spy plane into Iranian territory rather than asking for it back after it was seized, Iran's Foreign Ministry spokesman said on Tuesday. Iran announced on December 4 it had downed the spy p
Published 14 Dec, 2011 12:00am
US drone now Iran's 'property'

US drone now Iran's 'property'

A US drone captured by Iran is now the "property" of the Islamic republic, Defence Minister Ahmad Vahidi said on Tuesday, dismissing a request by US President Barack Obama for its return. "The American espionage drone is now Iran's property, and our count
Published 14 Dec, 2011 12:00am
US sanctions two Iran military figures

US sanctions two Iran military figures

The United States placed sanctions Tuesday on two top Iranian military figures for their roles in the brutal crackdown on dissenters in the wake of the June 2009 election. The US Treasury named Major General Hassan Firouzabadi, chairman of Iran's Joint Ch
Published 14 Dec, 2011 12:00am
Syria death toll hits 5,000

Syria death toll hits 5,000

Security forces shot dead 17 people in Syria on Tuesday and rebels killed seven police in an ambush, activists said, after the UN human rights chief put the death toll from nine months of protest against President Bashar al-Assad at 5,000. The bloodshed i
Published 14 Dec, 2011 12:00am
Bomb attack kills six in Afghanistan

Bomb attack kills six in Afghanistan

A roadside bomb killed six civilians, including women and children, in southern Afghanistan's Helmand province, local officials said on Tuesday. The victims were travelling in a minivan in the Greshk district of Helmand when their vehicle was caught in th
Published 14 Dec, 2011 12:00am
US drone crashes in Seychelles

US drone crashes in Seychelles

A US drone aircraft crashed at Seychelles International Airport on Tuesday, the US embassy in Mauritius said. "A US Air Force remote-piloted MQ-9 crashed at the Seychelles International Airport in Mahe. The MQ-9 was not armed and no injuries were reported
Published 14 Dec, 2011 12:00am
EU approves new passenger data deal with US

EU approves new passenger data deal with US

EU governments have endorsed a new agreement with the United States on the sharing of air passengers' data for flights from Europe to America. The EU said Tuesday the accord addresses European privacy concerns. It sets limits to what the data can be used
Published 14 Dec, 2011 12:00am
US Army helicopters crash on base, four soldiers dead

US Army helicopters crash on base, four soldiers dead

US Army officials said it remained unclear Tuesday whether two helicopters that crashed Monday, killing four soldiers, collided during their training flight in Washington state or crashed separately. Lieutenant Colonel Gary Dangerfield said officials are
Published 14 Dec, 2011 12:00am
Palestinian flag raised at UNESCO

Palestinian flag raised at UNESCO

The Palestinian flag was raised Tuesday above the UNESCO headquarters in Paris in a diplomatic victory won despite stiff resistance from the United States and Israel. Attending the ceremony, Palestinian president Mahmud Abbas said membership of the United
Published 14 Dec, 2011 12:00am
Canada deals blow to climate talks drive

Canada deals blow to climate talks drive

Canada's withdrawal from the Kyoto Protocol marks a slap in the face for marathon efforts to bring all countries under one legal roof in the fight against climate change, but the impact may be limited. Canada on Monday became the first country formally to
Published 14 Dec, 2011 12:00am
Tunisia swears in Marzouki as president

Tunisia swears in Marzouki as president

Almost a year since the Arab Spring started in Tunisia, the north African nation on Tuesday swore in veteran opposition rights activist Moncef Marzouki as its first elected president. The 66-year-old French trained doctor, who was forced into exile for a
Published 14 Dec, 2011 12:00am
Medvedev convenes new parliament despite protests

Medvedev convenes new parliament despite protests

President Dmitry Medvedev convened Tuesday the first session of Russia's newly-elected parliament despite a wave of protests over alleged fraud that helped the ruling party cling on to its majority. Medvedev told the heads of parliament's four factions in
Published 14 Dec, 2011 12:00am
US throws in towel on unwanted dollar coins

US throws in towel on unwanted dollar coins

The US administration said Tuesday it was ending routine production of one-dollar coins in the face of consumer resistance despite a decades-old campaign to replace the paper bill with more durable metal. Vice President Joe Biden said the US Mint would su
Published 14 Dec, 2011 12:00am
Swiss charge three in nuclear weapons case

Swiss charge three in nuclear weapons case

Swiss prosecutors said on Tuesday they had charged a father and his two sons for helping an unknown state build up an illegal nuclear weapons programme, after they admitted the crime.
Published 14 Dec, 2011 12:00am
Kuwait foils attempt to smuggle subsidised fuel

Kuwait foils attempt to smuggle subsidised fuel

Kuwait customs have foiled an attempt to smuggle hundreds of tonnes of heavily-subsidised diesel to an Asian country, the customs department said in a statement on Tuesday. An Asian man who offered to bribe a customs officer at Kuwait's main commercial po
Published 14 Dec, 2011 12:00am
15 Chinese children killed in bus accident

15 Chinese children killed in bus accident

A school bus carrying primary students slipped off an icy country road into an irrigation ditch in eastern China, killing at least 15 children and highlighting serious problems with child safety following a similar tragedy last month. Eight other children
Published 14 Dec, 2011 12:00am
Lampard penalty ends City's unbeaten run

Lampard penalty ends City's unbeaten run

Chelsea inflicted a first league defeat of the season on Premier League leaders Manchester City after substitute Frank Lampard secured a 2-1 victory from the penalty spot at Sttamford Bridge here on Monday Lampard's 83rd minute effort completed a comeback
Published 14 Dec, 2011 12:00am
Benzema named French player of the year

Benzema named French player of the year

Real Madrid striker Karim Benzema was named French player of the year by France Football magazine on Tuesday. The France striker won 155 points in a vote of former winners of the award, beating Barcelona fullback Eric Abidal (110) and Olympique Lyon keepe
Published 14 Dec, 2011 12:00am
Aussies 'lowest of the low'

Aussies 'lowest of the low'

Australia's cricketers were Tuesday damned by the press as the "lowest of the low" after a disastrous loss to New Zealand and branded a team in crisis ahead of a Test series against world number two India. Michael Clarke's men handed the Black Caps their
Published 14 Dec, 2011 12:00am
Warne to spin in T20 despite burned hand

Warne to spin in T20 despite burned hand

Cricket legend Shane Warne said Tuesday he was almost certain to make his comeback in Australia's revamped Twenty20 competition as planned, despite burning his hand badly while cooking. Sporting a heavily bandaged hand, the former Test champion gave himse
Published 14 Dec, 2011 12:00am
Becker sees German tennis 'renaissance'

Becker sees German tennis 'renaissance'

Former German star Boris Becker said Tuesday he believes his country's tennis could be on the cusp of a renaissance - seeing signs of promise particularly among the women. "I will not be surprised if Andrea (Petkovic) or Sabine (Lisicki) show themselves c
Published 14 Dec, 2011 12:00am
Coach backs Ponting, Hussey to stay

Coach backs Ponting, Hussey to stay

Australia coach Mickey Arthur on Tuesday backed struggling senior batsmen Ricky Ponting and Michael Hussey to retain their team places for the Boxing Day Test with India in Melbourne. Arthur said there were no plans to manage the Test exits of former skip
Published 14 Dec, 2011 12:00am
Mushtaq predicts England versus Pakistan spin battle

Mushtaq predicts England versus Pakistan spin battle

Former Pakistan leg spinner Mushtaq Ahmed, who is now employed in a coaching role with England, has predicted a battle of spin between the two countries when they meet in an upcoming series. Mushtaq has been working as a spin bowling consultant with Engla
Published 14 Dec, 2011 12:00am
Younis vaults into fifth position in Test Rankings

Younis vaults into fifth position in Test Rankings

Pakistan batting's mainstay Younis Khan has charged up the ICC Player Rankings for Test batsmen after his double-century set-up an innings and 184-run victory for Pakistan in the first Test against Bangladesh.
Published 14 Dec, 2011 12:00am
BOA appeal to CAS over lifetime Games ban for drugs cheats

BOA appeal to CAS over lifetime Games ban for drugs cheats

The British Olympic Association (BOA) on Tuesday filed a formal appeal with the Court of Arbitration for Sport (CAS) in their dispute with the World Anti-Doping Agency (WADA) over controversial lifetime Olympic bans for drugs cheats. The BOA bans any Brit
Published 14 Dec, 2011 12:00am
Pakistan to use pink ball in Quaid Trophy final

Pakistan to use pink ball in Quaid Trophy final

Pakistan will again hold the final of its premier first-class tournament under floodlights this month as part of the International Cricket Council's efforts to introduce day and night Test matches. A senior PCB official told Reuters the Quaid-e-Azam Troph
Published 14 Dec, 2011 12:00am
Usman wins inter-collegiate bodybuilding championship

Usman wins inter-collegiate bodybuilding championship

Punjab University Hailey College of Banking & Finance student, Usman Nazir has won PU Inter-Collegiate Bodybuilding Championship. Bodybuilders from various colleges of the varsity participated in the championship. Having strong muscles, Usman Nazir bagged
Published 14 Dec, 2011 12:00am
SPM Stags beat Bucks in veteran Cricket League

SPM Stags beat Bucks in veteran Cricket League

SPM Stags beat SPM Bucks by 44 runs in the first Lahore Veteran Champion League played at Ali Garh Cricket Ground Model Town on Tuesday. Batting first, SPM Stags scored 211 runs in 30 overs. Kamran Khan with 63 runs, Zahoor Ilahi 53, whereas Javeed Butt 2
Published 14 Dec, 2011 12:00am
All eyes on Neymar in semi-final

All eyes on Neymar in semi-final

Santos make their highly anticipated debut at the Club World Cup on Wednesday when they face plucky Japanese champions Kashiwa Reysol, but all the focus is on one man: Neymar. The Brazilians will be relying on the highly talented 19-year-old forward to sh
Published 14 Dec, 2011 12:00am
Demand for ECB funds spikes, euro rates inch lower

Demand for ECB funds spikes, euro rates inch lower

Demand for European Central Bank weekly funding hit its highest since mid-2009 on Tuesday, as confidence that the eurozone crisis could be solved continued to wane after another disappointing European Union summit last week. A total of 197 banks borrowed
Published 14 Dec, 2011 12:00am
Emerging Asian currencies slid

Emerging Asian currencies slid

Emerging Asian currencies slid on Tuesday as investors reduced risky assets on fears of mass downgrade of European sovereign ratings, though they remained wary of potential dollar-selling intervention by regional central banks seeking to shore up their cu
Published 14 Dec, 2011 12:00am
Indian rupee touches all time low

Indian rupee touches all time low

The Indian rupee touched a record low for the second day in a row on Tuesday as both foreign and domestic investors snapped up dollars to reduce exposure to India's cooling economy. The partially convertible rupee ended at 53.22/23 to the dollar, down 0.7
Published 14 Dec, 2011 12:00am
Aussie and New Zealand dollars nurse hefty losses

Aussie and New Zealand dollars nurse hefty losses

The Aussie and New Zealand dollars found a temporary footing on Tuesday thanks to short-covering, but still nursed hefty losses as the prospect of imminent EU ratings downgrades fed a bid for safe-havens like government debt. The Aussie dollar paused at $
Published 14 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 Tuesday. 79.95-80.30 (previous 79.79-79.80). Call Money Rates: 20.00 percent (previous 12.00-20.00 percent).
Published 14 Dec, 2011 12:00am
Euro hits two months low

Euro hits two months low

The euro hit a two-month low against the dollar on Monday as investors began to doubt that European leaders had done enough to end a sovereign debt crisis and braced for a possible mass eurozone credit downgrade. Markets rallied last week when the 17 coun
Published 14 Dec, 2011 12:00am
Early trade in New York: Euro slumps to 11-month low

Early trade in New York: Euro slumps to 11-month low

The euro dropped to an 11-month low against the US dollar Tuesday, with selling set to continue on concerns about a lack of unity among European nations to tackle the debt crisis and fears of more credit rating downgrades. Losses accelerated after the eur
Published 14 Dec, 2011 12:00am
Euro holds above two-month low in London

Euro holds above two-month low in London

The euro held above a two-month low versus the dollar on Tuesday but was seen vulnerable to further selling as the threat of eurozone sovereign downgrades hung over the currency and kept investors wary. Short covering helped the euro rebound modestly afte
Published 14 Dec, 2011 12:00am
Euro hits two-month low in Asia

Euro hits two-month low in Asia

The euro plumbed two-month lows in Asia on Tuesday while the Australian dollar sank closer to parity as rising disappointment over the European Union's summit prompted investors to position for possible downgrades of eurozone sovereign credit ratings.
Published 14 Dec, 2011 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

The euro fell to a fresh nine-month low against sterling on Tuesday after comments by German Chancellor Angela Merkel unsettled investors already disappointed by the outcome of last week's European Union summit. Selling of the single currency accelerated
Published 14 Dec, 2011 12:00am
Yuan declines

Yuan declines

The yuan ended down against the dollar on Tuesday, hitting the lower end of its trading band for the 10th straight day as investors warily eyed a slower pace of rises in the Chinese currency amid a slowdown in the local and global economy. Spot yuan ended
Published 14 Dec, 2011 12:00am
Energy shares fuel FTSE rally

Energy shares fuel FTSE rally

Britain's FTSE 100 rebounded in low volume on Tuesday, with energy stocks rallying on the back of soaring oil prices. The oil & gas sector index rose 2.3 percent, tracking a rise in the price of crude. That came after the International Energy Agency said
Published 14 Dec, 2011 12:00am
European stocks get energy boost

European stocks get energy boost

European shares ended higher in choppy, thin trade on Tuesday as firmer oil prices, boosted by rumours of a rise in tension with Iran, helped lift energy stocks. But the market cut about half of its early gains on worries related to Europe's future bailou
Published 14 Dec, 2011 12:00am
South East Asian markets keep falling

South East Asian markets keep falling

Most Southeast Asian stock markets fell on Tuesday on fears that any fresh credit rating downgrades in Europe will deal a fresh blow to financial markets and the cooling global economy. Optimism over last week's European Union agreement on tougher fiscal
Published 14 Dec, 2011 12:00am
Hong Kong, China shares fall

Hong Kong, China shares fall

Shares in Hong Kong and China extended losses to a fourth straight session on Tuesday on fears that European leaders have not done enough to staunch the region's raging debt crisis and concerns that China's economy is rapidly losing momentum. The Hang Sen
Published 14 Dec, 2011 12:00am
Indian shares spring back

Indian shares spring back

Indian shares snapped a three-day slide on Tuesday as investors bet the central bank will indicate a shift in its inflation-focused policy stance to support growth after industrial output shrank for the first time in more than two years. The Reserve Bank
Published 14 Dec, 2011 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries rallied on Monday as the optimism on Wall Street that followed last week's EU summit faded and investors began to worry again that a big-picture solution to the eurozone debt crisis was out of reach. Wall Street stocks fell, adding to Treasu
Published 14 Dec, 2011 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries rallied on Monday as the optimism on Wall Street that followed last week's EU summit faded and investors began to worry again that a big-picture solution to the eurozone debt crisis was out of reach. Wall Street stocks fell, adding to Treasu
Published 14 Dec, 2011 12:00am
Taiwan stocks lower

Taiwan stocks lower

Taiwan stocks fell 0.76 percent on Tuesday, joining China and other regional bourses in declines as worries resurfaced over the eurozone and a Chinese economic slowdown, but smartphone maker HTC ended up 2.65 percent. The benchmark TAIEX index shed 52.73
Published 14 Dec, 2011 12:00am
US stocks tumble

US stocks tumble

US stocks tumbled on Monday, as concerns about Europe returned to the forefront after major credit ratings agencies warned that European leaders had not done enough to tackle the region's debt crisis. The decline was broad. All l0 S&P industry groups ende
Published 14 Dec, 2011 12:00am
Tuesday's early trade: stocks rise modestly

Tuesday's early trade: stocks rise modestly

US stocks rose modestly in choppy, low volume-trading Tuesday, with concerns about Europe offsetting a jump in crude prices. The market earlier rose as much as 1 percent as crude oil prices spiked above $100 a barrel. But equities trimmed gains after sour
Published 14 Dec, 2011 12:00am
Nikkei average falls

Nikkei average falls

Japan's Nikkei stock average fell on Tuesday as the prospect of mass downgrades of European sovereign ratings added to renewed worries about the strength of measures by European leaders to fight the region's debt crisis. But the benchmark's 25-day moving
Published 14 Dec, 2011 12:00am
Seoul shares retreat

Seoul shares retreat

Seoul shares ended down 1.9 percent on Tuesday as concerns about Europe returned to the forefront after major credit ratings agencies warned European leaders had not done enough to tackle the region's debt crisis. "European authorities' debt measures turn
Published 14 Dec, 2011 12:00am
Deutsche Boerse, NYSE offer more remedies to clear merger

Deutsche Boerse, NYSE offer more remedies to clear merger

Exchange operators NYSE Euronext and Deutsche Boerse AG offered more divestments in a bid to assuage European authorities' antitrust concerns over their proposed $9 billion merger. Deutsche Boerse said in a statement on Tuesday the two companies had propo
Published 14 Dec, 2011 12:00am
EU, without Britain, moves towards fiscal deal

EU, without Britain, moves towards fiscal deal

Up to 26 European Union countries will finalise a pact to enforce budget discipline more strictly in the eurozone by March, a top official said on Tuesday, as the bloc tries to move quickly to rebuild confidence but without Britain's backing.
Published 14 Dec, 2011 12:00am
OECD says jobless rate edges higher to 8.3 percent

OECD says jobless rate edges higher to 8.3 percent

The unemployment rate in advanced world economies rose to 8.3 percent in October from 8.2 percent in September, having been at about these levels for most of the year, the OECD said on Tuesday. "Around 45.1 million people were unemployed across the OECD a
Published 14 Dec, 2011 12:00am
Saab gets 11th hour payment from China's Youngman

Saab gets 11th hour payment from China's Youngman

Ailing carmaker Saab has received a first payment from China's Zhejiang Youngman Lotus Automobile as it struggles to stay in business and faces a crucial court hearing on its future this week. A court is due to decide on Friday whether to keep Saab in a s
Published 14 Dec, 2011 12:00am
Saudi Arabia appoints new central bank governor

Saudi Arabia appoints new central bank governor

Saudi King Abdullah on Tuesday appointed a new central bank governor and named a new economy minister in a limited cabinet reshuffle, state television reported. The cabinet reshuffle in the world's largest oil exporter also included a new trade minister.
Published 14 Dec, 2011 12:00am
Hong Kong tops WEF's financial stability index

Hong Kong tops WEF's financial stability index

Hong Kong has muscled its way to the top of the World Economic Forum's Financial Stability Index, overtaking the United States and the United Kingdom for the first time, according to a report published on Tuesday. The United States slipped to second place
Published 14 Dec, 2011 12:00am
Swiss upper house backs move to end US tax row

Swiss upper house backs move to end US tax row

Swiss lawmakers took a step on Tuesday towards helping the government seal a compromise over banking secrecy rules that would enable it to hand over the names of wealthy Americans suspected of dodging taxes. Famed for the care with which it protects accou
Published 14 Dec, 2011 12:00am
Iran lawmakers pass Syria free trade bill

Iran lawmakers pass Syria free trade bill

Iran's parliament on Tuesday passed a bill for a free trade agreement with Syria in a show of support for President Bashar al-Assad's regime beset by protests and international pressure. The bill provides for free trade between Iran and Syria within the n
Published 14 Dec, 2011 12:00am
Swedbank to cut 600 jobs, take fourth quarter charge

Swedbank to cut 600 jobs, take fourth quarter charge

Swedbank is to cut 600 jobs in Sweden and the Baltic states and take a 330 million crown ($48 million) restructuring charge in the fourth quarter, the bank's chief financial officer said on Tuesday. After getting slammed by the 2009 financial crisis becau
Published 14 Dec, 2011 12:00am
US retail sales rise

US retail sales rise

US retail sales grew less than forecast in November, tempering some of the expectations for a strong holiday season that had been raised by signs of bumper Thanksgiving weekend sales. Total retail sales increased 0.2 percent after rising by an upwardly re
Published 14 Dec, 2011 12:00am
Job openings slip

Job openings slip

The number of US jobs waiting to be filled edged down slightly in October, suggesting the labour market remained in a steady state that month. There were 3.27 million available jobs at the end of October, down from September's upwardly revised 3.38 millio
Published 14 Dec, 2011 12:00am
Opec, IEA agree on balanced oil market

Opec, IEA agree on balanced oil market

Healthy production levels by Opec will help balance oil markets next year as demand growth slows, the West's energy watchdog and Opec said on Tuesday, a day ahead of a policy-setting meeting by the producer group. The International Energy Agency said the
Published 14 Dec, 2011 12:00am
Japan likely to buy US F-35 fighters

Japan likely to buy US F-35 fighters

Japan's government has selected the Lockheed Martin F-35 stealth fighter to bolster its aging air force and is likely to announce the multibillion-dollar deal by the end of the week, news reports said Tuesday. The announcement is expected after a committe
Published 14 Dec, 2011 12:00am
BoJ dollar operation draws strong bids for year-end funding

BoJ dollar operation draws strong bids for year-end funding

The Bank of Japan on Tuesday supplied more dollars than it has done at any point since Europe's debt crisis broke out two years ago, with banks looking to secure funds for the crucial year-end period at a time when dollar funding costs are expected to sta
Published 14 Dec, 2011 12:00am
Siemens charged by SEC with Argentina bribery

Siemens charged by SEC with Argentina bribery

Siemens AG executives in Argentina bribed government officials to help win a $1 billion contract to produce national identity cards in 1998, the top US market regulator said in a civil complaint on Tuesday. The complaint filed in Manhattan federal court s
Published 14 Dec, 2011 12:00am
Southwest to be first operator of Boeing 737 MAX

Southwest to be first operator of Boeing 737 MAX

Southwest Airlines, a loyal Boeing Co customer for 40 years, ordered 208 Boeing 737s worth $19 billion, including 150 of the upcoming 737 MAX. In placing the MAX order, Southwest would be the first commercial operator for the upgraded, fuel-efficient narr
Published 14 Dec, 2011 12:00am
Morgan Stanley settles with MBIA, sees $1.8 billion charge

Morgan Stanley settles with MBIA, sees $1.8 billion charge

Morgan Stanley and MBIA Inc have agreed to a settlement to extinguish credit-default swaps and exit litigation against one another that will lead to a charge of $1.8 billion before taxes in the fourth quarter for Morgan Stanley, the bank said on Tuesday.
Published 14 Dec, 2011 12:00am
RBS report urges tougher rules on bank M&A, executives

RBS report urges tougher rules on bank M&A, executives

Bank take-overs should face deeper scrutiny and directors be more accountable for their actions, Britain's finance watchdog said in a long-awaited report into Royal Bank of Scotland's near collapse. The Financial Services Authority (FSA) said in a 452 pag
Published 14 Dec, 2011 12:00am
Prices may fall sharply on cotton market sans TCP intervention

Prices may fall sharply on cotton market sans TCP intervention

Rates may decline sharply on the cotton market if the Trading Corporation of Pakistan (TCP) not intervenes in the market, dealers said on Tuesday. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,300, they said. Prices of seed
Published 14 Dec, 2011 12:00am
Oil cake market rates

Oil cake market rates

Bearish trend was seen on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December contract that ended at Rs 1305.00 opened with a fall of 40 paisa at Rs 1304.60. The January vaida which closed at 1173.50 opened w
Published 14 Dec, 2011 12:00am
Grams prices seen higher on grain market

Grams prices seen higher on grain market

Grams prices were higher on the wholesale grain market on Tuesday in process of modest trading, dealers said. On the grams sector yellow peas Canada rose by Rs 50 to Rs 3900-4100, yellow peas dal Canada followed same pattern, gaining Rs 100 to Rs 4350-455
Published 14 Dec, 2011 12:00am
Vietnam secures a deal to ship 300,000 tonnes of rice to Malaysia

Vietnam secures a deal to ship 300,000 tonnes of rice to Malaysia

Vietnam has secured a contract to export 300,000 tonnes of rice to Malaysia in 2012, part of its plan to keep export volumes steady and retain its market share amid competition from cheaper Indian and Pakistani grain. Vietnam targets exports of 7 million
Published 14 Dec, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 81,016 tonnes of cargo comprising 46,859 tonnes of import cargo and 34,157 tonnes of export cargo including 5,349 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 46,859 tonn
Published 14 Dec, 2011 12:00am
Slow soyameal use restrains soya crushings: Oil World

Slow soyameal use restrains soya crushings: Oil World

Sluggish global soyameal demand is restraining soyabean crushings and so production of soyaoil, Hamburg-based oilseeds analysts Oil World said on Tuesday. "World consumption of soyameal will be smaller than expected in the October-December quarter, probab
Published 14 Dec, 2011 12:00am
Canadian canola futures mostly rise

Canadian canola futures mostly rise

ICE Canadian canola futures mostly rose on Monday, bouncing off a 10-day low, on support from a weaker Canadian dollar and stronger soyabean futures, traders said. Canola also gained strength after January support held at $496.10 and with farmer selling r
Published 14 Dec, 2011 12:00am
Bangladesh tea prices up on good demand

Bangladesh tea prices up on good demand

Tea prices in Bangladesh rose for a fourth straight week on Tuesday at the weekly auction due to good demand from domestic buyers, brokers said. The average price of Bangladeshi tea rose 2 percent to 155.92 taka ($1.9) per kg from the previous sale, said
Published 14 Dec, 2011 12:00am
China's December soya imports seen at 5.39 million tonnes

China's December soya imports seen at 5.39 million tonnes

China, the world's largest soya buyer, is expected to import 5.39 million tonnes of the oilseed in December, 0.7 percent less than in the same month a year ago, according to the latest estimate by the commerce ministry published on Tuesday. The December f
Published 14 Dec, 2011 12:00am
US Midwest corn and soya bids hold steady

US Midwest corn and soya bids hold steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Monday as slow farmer sales were offset by limited demand from elevators, processors and ethanol plants, dealers said. Growers are not expected to resume sales of corn or s
Published 14 Dec, 2011 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 14 Dec, 2011 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 14 Dec, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 14 Dec, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 14 Dec, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (December 13, 2011).

Published 14 Dec, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (December 13, 2011).

Published 14 Dec, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (December 13, 2011).

Published 14 Dec, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (December 13, 2011).

Published 14 Dec, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (December 13, 2011).
Published 14 Dec, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (December 13, 2011).

Published 14 Dec, 2011 12:00am
Fed leaves policy steady

Fed leaves policy steady

The Federal Reserve on Tuesday left monetary policy on hold but said financial market turbulence posed threats to economic growth, leaving the door open to further easing next year. The Fed characterised the US economy as expanding moderately despite an a
Published 14 Dec, 2011 12:00am
Fed leaves policy steady

Fed leaves policy steady

The Federal Reserve on Tuesday left monetary policy on hold but said financial market turbulence posed threats to economic growth, leaving the door open to further easing next year. The Fed characterised the US economy as expanding moderately despite an a
Published 14 Dec, 2011 12:00am
Fed leaves policy steady

Fed leaves policy steady

The Federal Reserve on Tuesday left monetary policy on hold but said financial market turbulence posed threats to economic growth, leaving the door open to further easing next year. The Fed characterised the US economy as expanding moderately despite an a
Published 14 Dec, 2011 12:00am
Former SSGCL chief likely to become PSM CEO

Former SSGCL chief likely to become PSM CEO

The government is likely to appoint former Managing Director, Sui Southern Gas Pipeline Company (SSGCL), Faizullah Abbasi, as Chief Executive Officer (CEO) of Pakistan Steel Mills (PSM) in an effort to improve the financial health of this state-run enterp
Published 14 Dec, 2011 12:00am
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