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Archive - 2011-12-17
Madagascar approves 2012 budget
Africa

Madagascar approves 2012 budget

ANTANANARIVO: Madagascar's interim parliament approved the 2012 budget and cut the island's economic growth forecast to
Published 17 Dec, 2011 04:09pm
Kazakh leader orders state emergency
Top News

Kazakh leader orders state emergency

ALMATY: Kazakh President Nursultan Nazarbayev on Saturday declared a 20-day state of emergency in a western oil city whe
Published 17 Dec, 2011 03:34pm
Afaq Ahmed released from central jail
Top News

Afaq Ahmed released from central jail

KARACHI: Chairman, Mohajir Qaumi Movement-Haqiqi (MQM-H) Afaq Ahmed has been released from Central Prison Karachi on Sat
Published 17 Dec, 2011 03:33pm
Belgium must hit deficit goal
Europe

Belgium must hit deficit goal

BRUSSELS: The downgrade of Belgium credit rating by agency Moody's underlines the need to cut the budget deficit next ye
Published 17 Dec, 2011 03:00pm
Cuba buys Vietnam rice
Commodities

Cuba buys Vietnam rice

HANOI: Deferred payments of up to one-and-a-half years have been key to keeping Cuba among Vietnam's largest rice buyers
Published 17 Dec, 2011 02:28pm
Tahrir protesters flee
Africa

Tahrir protesters flee

CAIRO: Egyptian soldiers with batons charged into Tahrir Square on Saturday after fatal clashes nearby, prompting many d
Published 17 Dec, 2011 11:17am
'No institution can derail democracy'
Top News

'No institution can derail democracy'

LAHORE : Pakistan Peoples Party senior leader Dr Babar Awan has said that no institution could derail democracy in the
Published 17 Dec, 2011 09:27am
Pentagon chief Panetta arrives in Libya
Top News

Pentagon chief Panetta arrives in Libya

TRIPOLI: US Defence Secretary Leon Panetta arrived in Tripoli Saturday on the first visit to Libya by a Pentagon chief t
Published 17 Dec, 2011 09:14am
Bangladesh 153-4 at tea
Cricket

Bangladesh 153-4 at tea

DHAKA: Bangladesh were 153-4 in their first innings at tea on the opening day of the second and final Test against Pakis
Published 17 Dec, 2011 09:09am
UN ends sanctions on Libya central bank
Top News

UN ends sanctions on Libya central bank

UNITED NATIONS: The UN Security Council on Friday lifted sanctions on Libya's central bank and a key investment bank fre
Published 17 Dec, 2011 07:16am
Philippines storm toll hits 143
Top News

Philippines storm toll hits 143

MANILA: The death toll from tropical storm Washi rose to 143 on Saturday with more than 100 others missing after widespr
Published 17 Dec, 2011 06:00am
Nafa Fund as Collateral
Markets

Nafa Fund as Collateral

RECORDER REPORT KARACHI : The Karachi Stock Exchange (KSE) has informed all its members that NAFA Government Securiti
Published 17 Dec, 2011 04:55am
PSO receivables rise to Rs180.3bn
Top News

PSO receivables rise to Rs180.3bn

RECORDER REPORT ISLAMABAD : The total receivables and payables of Pakistan State Oil (PSO) have swelled to over Rs 35
Published 17 Dec, 2011 04:15am
November refineries' output down 14pc
Top News

November refineries' output down 14pc

RECORDER REPORT KARACHI : The refineries' production in the country in November declined by 14 percent on year-on-yea
Published 17 Dec, 2011 04:00am
FBR issues new organisational structure of IR Wing

FBR issues new organisational structure of IR Wing

The Federal Board of Revenue (FBR) has issued new organisational structure of the Inland Revenue (IR) Wing under which six Chiefs ie Chief of Income Tax Policy, Chief of IR Operations, Chief of Revenue Budget, Chief of Sales Tax/Federal Excise Duty Policy
Published 17 Dec, 2011 12:00am
Government unable to control builder mafia

Government unable to control builder mafia

In spite of expressing grave concern over shortage of houses, which surpass the figure of eight million across the country, the government is still unable to regulate the builders mafia. Some thug builders, who are using all illegal means to deceive the m
Published 17 Dec, 2011 12:00am
'Only competent teachers to be regularised'

'Only competent teachers to be regularised'

Sindh Education Minister Pir Mazhar-ul-Haq on Friday said that only competent teachers would be regularised and a draft in this connection had been sent to Sindh Law Department for its legal review. Replying to a question of PML-F's legislator, Nusrat Seh
Published 17 Dec, 2011 12:00am
SHC Chief Justice

SHC Chief Justice

Chief Justice of High Court of Sindh will preside over the function of distribution of cars to the judicial officers of the province (district & session judges & additional district & sessions judges) tomorrow (Sunday) December 18, 2011 at 11.00 am at SHC
Published 17 Dec, 2011 12:00am
Peace and security to help attract investment: US CG

Peace and security to help attract investment: US CG

Consul General of the United States in Karachi William Martin has said that peace and security will help open many economic and commercial opportunities and attract much needed foreign investment.
Published 17 Dec, 2011 12:00am
MQM wants system based on equal rights to rich and poor: Altaf

MQM wants system based on equal rights to rich and poor: Altaf

Muttahida Qaumi Movement (MQM), chief Altaf Hussain has said that his party wants to introduce a system in Pakistan that gives equal rights to the rich and the poor, ensures equality before law and pledges dignity to the poor and the rich people alike.
Published 17 Dec, 2011 12:00am
Six alleged terrorists arrested

Six alleged terrorists arrested

Sindh police on Friday claimed to have arrested six alleged persons belonging to 'Al Mukhtar', one of the militant wings of Taliban and seized huge cache of arms and ammunitions. According to SSP Chaudhry Aslam Khan, the arrested suspects include ringlead
Published 17 Dec, 2011 12:00am
SHC strikes down Afaq's detention under MPO

SHC strikes down Afaq's detention under MPO

A division bench of Sindh High Court (SHC) on Friday struck down detention of Afaq Ahmed, chief of Mohajir Qaumi Movement (MQM-H) under Maintenance of Public Order (MPO).
Published 17 Dec, 2011 12:00am
PPP parliamentary body meeting held in Sindh Assembly

PPP parliamentary body meeting held in Sindh Assembly

The meeting of parliamentary party of Pakistan People's Party (PPP) in Sindh Assembly was held on Friday in the chamber of Chief Minister Sindh, Syed Qaim Ali Shah at the assembly building. The leader of the parliamentary body of PPP in Sindh Assembly, Pi
Published 17 Dec, 2011 12:00am
HEC delegation visits PU

HEC delegation visits PU

A three-member delegation of Higher Education Commission (HEC) visited the Punjab University and held a meeting with Vice-Chancellor Professor Dr Mujahid Kamran and editors of PU research journals. The members of the delegation included Sulaiman Ahmad, Ha
Published 17 Dec, 2011 12:00am
Government striving to make country polio-free: Gilani

Government striving to make country polio-free: Gilani

Prime Minister Syed Yusuf Raza Gilani on Friday said the government would make sustained efforts to achieve the goal of making the country polio-free. "It is our national duty to play role in this regard as the future of our children rests on our efforts
Published 17 Dec, 2011 12:00am
Anti-Women Practices Bill right step to discourage negative customs

Anti-Women Practices Bill right step to discourage negative customs

Chairman, Senate Functional Committee on Human Rights, Afrasiab Khattak on Friday said the landmark passage of Bill would protect the women segment from negative customs and traditions and ensure their rights. The democratic forces have always protected t
Published 17 Dec, 2011 12:00am
LPG bottling, marketing: SSGC, SNGPL told to finalise plan in a month

LPG bottling, marketing: SSGC, SNGPL told to finalise plan in a month

The Minister for Petroleum and Natural Resources, Dr Asim Hussain, has directed Sui-Northern Gas Pipelines (SNGPL) and Sui-Southern Gas Company (SSGC) to finalise LPG bottling and marketing within a month so that the government could cope with the looming
Published 17 Dec, 2011 12:00am
Additional portfolio

Additional portfolio

Khyber Pakhtunkhwa Senior Minister, Rahim Dad Khan has given additional responsibilities of Irrigation Department after the resignation of Pervez Khattak, as Provincial Minister. According to notification issued by provincial administration department her
Published 17 Dec, 2011 12:00am
Iesco power suspension notice

Iesco power suspension notice

According to Iesco Spokesman, due to electricity maintenance/development work the Power supply of the areas fall under the following feeders would remain suspended as under:
Published 17 Dec, 2011 12:00am
PCRWR report: arsenic found in seven bottled-water brands

PCRWR report: arsenic found in seven bottled-water brands

Pakistan Council for Research in Water Resources (PCRWR) Friday revealed that arsenic, a major cause of cancer and kidney diseases was found in seven brands of bottled water. Safe limit of arsenic in water is 10ppb, but some brands of bottled water like N
Published 17 Dec, 2011 12:00am
Industries volunteer to forego gas use for one day

Industries volunteer to forego gas use for one day

All industries in Karachi and interior Sindh have voluntarily agreed to stop gas use for 24 hours from 7 am on December 18 (Sunday) till 7 am on December 19. According to Sui Southern Gas Company Ltd (SSGC) announcement on Friday, a unanimous decision in
Published 17 Dec, 2011 12:00am
Action demanded against sugar mill owners

Action demanded against sugar mill owners

Sindh Chamber of Agriculture while expressing concern over delay in starting the cane crushing season by many sugar mills of Sindh has asked the government to initiate legal action against the management of all these sugar mills. A meeting of the executiv
Published 17 Dec, 2011 12:00am
Two permanent judges appointed in AJK Supreme Court

Two permanent judges appointed in AJK Supreme Court

Justice Raja Saeed Akram Khan and sitting Adhoc Judge of AJK Supreme Court Justice Muhammad Ibrahim Zia on Friday sworn in as permanent judges of the apex court. Chief Justice of the AJK SC Justice Muhammad Azam Khan administered the oath to both the newl
Published 17 Dec, 2011 12:00am
Peace building in AF-PAK region under umbrella of 'APFA'

Peace building in AF-PAK region under umbrella of 'APFA'

The Afghan-Pakistan Friendship Association (APFA) was proposed as an umbrella organisation to expand the process of peace building and conflict resolution in the AFPAK region, by engaging the civil society as the main driving force. "Regional integration
Published 17 Dec, 2011 12:00am
Seminar on Ahmad Nadeem Qasmi held

Seminar on Ahmad Nadeem Qasmi held

The Intern-ational Islamic University Islamabad (IIUI) organised a seminar on the life and achievements of famous Urdu writer and columnist Ahmad Nadeem Qasmi. The first session of the seminar was inaugurated by Rector IIUI, Professor Fateh Muhammad Malik
Published 17 Dec, 2011 12:00am
Why only PSM?

Why only PSM?

The federal cabinet has approved a plan for the revival of Pakistan Steel Mills (PSM) that envisages converting it into a profitable national entity, so stated Firdous Ashiq Awan, Federal Minister for Information while briefing the media on decisions take
Published 17 Dec, 2011 12:00am
Rabbani's killer

Rabbani's killer

None else but the Afghan refugees assassinated former Afghan president Professor Burhanuddin Rabbani - that was Foreign Minister Hina Rabbani Khar's disclosure on the floor of the Senate recently. "We are not responsible if Afghan refugees crossed the bor
Published 17 Dec, 2011 12:00am
Nefarious interest groups in the economy

Nefarious interest groups in the economy

Pakistan is beset by the same sort of problems that were encountered by the developed economies just before the Second World War and the doings of the nefarious interest groups. During the course of the 19th and 20th century, serious issues were raised an
Published 17 Dec, 2011 12:00am
Which 'merit' has the best 'merit'

Which 'merit' has the best 'merit'

Merit-based systems, or meritocracy, as such systems are termed, is the model most commonly followed in progressive societies. Meritocracy means deploying people, and taking decisions, on basis of merits. Pakistan is probably one of more vivid examples of
Published 17 Dec, 2011 12:00am
Malaysia cashes in on luxury retail to lure tourists

Malaysia cashes in on luxury retail to lure tourists

Fidelia Sol was a picture of radiant joy as she practically skipped out of the Salvatore Ferragamo shop with a pair of pink heels and a leather belt, bearing testimony to the perplexing power of luxury retail therapy. Malaysia is targeting shoppers like S
Published 17 Dec, 2011 12:00am
Political tempest or impolitic

Political tempest or impolitic

"I have always felt that a politician is to be judged by the animosities he excites among his opponents" -Sir Winston Churchill. But with the declaration of political tempest (tsunami) the Chairman PTI, has gone past the intellectual appraisal (above) of
Published 17 Dec, 2011 12:00am
Textile industry: Ministry, Aptma agree to revise load management plan

Textile industry: Ministry, Aptma agree to revise load management plan

Petroleum Ministry and Aptma have agreed to revise load management plan for textile industry in Punjab, reducing the supply cut to 3.5 days a week from the earlier proposed four days a week. A meeting of petroleum ministry officials along with the petrole
Published 17 Dec, 2011 12:00am
ZONG launches its much awaited MU co-branded SIM

ZONG launches its much awaited MU co-branded SIM

ZONG, the fastest growing network of Pakistan, has launched its highly anticipated Manchester United co-branded SIM in an exciting event held at Royal Palm Golf and Country. The event hosted to officially launch the SIM was well attended by socialites, ce
Published 17 Dec, 2011 12:00am
'Political stability must for economic growth'

'Political stability must for economic growth'

Chairperson, Human Development Foundation (HDF), Dr Khadija Haq has said that economy would not take a positive turn unless and until there is political stability in the country. HDF chairperson was talking to LCCI President, Irfan Qaiser Sheikh here at L
Published 17 Dec, 2011 12:00am
PPL declared largest corporate giver for seventh consecutive year

PPL declared largest corporate giver for seventh consecutive year

Pakistan Petroleum Limited (PPL) was declared the largest corporate giver by total volume of donations for 2010 at the Corporate Philanthropy Awards hosted by Pakistan Centre for Philanthropy in Karachi on December 15. The company bagged the award for the
Published 17 Dec, 2011 12:00am
Non-repair of roads: chief minister Sindh takes notice

Non-repair of roads: chief minister Sindh takes notice

Chief Minister Sindh, Syed Qaim Ali Shah has taken serious notice of non-repair of various roads linking the Khorwah town (District Badin) since last 20 years, resultantly, people and transporters are facing hardships. Qaim called a detailed report from D
Published 17 Dec, 2011 12:00am
First 'Made in India' expo in Lahore from February 11

First 'Made in India' expo in Lahore from February 11

A six-member team of Federation of Indian Chambers of Commerce and Industry led by its Additional Director, Goutam Gosh called on LCCI President, Irfan Qaiser Sheikh to discuss and finalise modalities for the first-ever 'made in India' show scheduled for
Published 17 Dec, 2011 12:00am
UAF, NIBAF, GCO sign MoU

UAF, NIBAF, GCO sign MoU

The University of Agriculture Faisalabad (UAF) inked two Memorandum of understandings with the National Institute of Banking and Finance, Islamabad (NIBAF) and Green Circle Organisation (GCO), respectively to collaborate in the areas of research, training
Published 17 Dec, 2011 12:00am
CGT on property: tax reform group to take up issue in next meeting

CGT on property: tax reform group to take up issue in next meeting

Tax Reform Co-ordination Group (TRCG) of the Federal Board of Revenue (FBR) will take up the issue of Capital Gain Tax (CGT) on immovable property in its next meeting to be convened on December 23, 2011. Sources told Business Recorder here on Frida
Published 17 Dec, 2011 12:00am
Supreme Court only forum to probe memo scandal: Imran

Supreme Court only forum to probe memo scandal: Imran

Chairman Pakistan Tehreek-e-Insaf (PTI), Imran Khan on Friday said there was no other forum except Supreme Court to probe memo scandal and people have full confidence in the apex court. Speaking at a press conference, he said that challenging memogate sca
Published 17 Dec, 2011 12:00am
Air Chief condoles Nur Khan's death

Air Chief condoles Nur Khan's death

Air Chief Marshal Qamar Suleman, Chief of the Air Staff, Pakistan Air Force, on Friday expressed extreme grief on the demise of PAF legend, a national icon, and one of the founding fathers of the modern PAF, former Commander-in-Chief of Pakistan Air Force
Published 17 Dec, 2011 12:00am
Youths urged to work towards cultural preservation

Youths urged to work towards cultural preservation

A senior Hindko poet, prose writer and researcher has said that educated youth have a role to play in language and cultural preservation. Presiding over a poetry recital session arranged by the literacy, cultural and social welfare organisation, Gandhara
Published 17 Dec, 2011 12:00am
10 percent fall in leather goods' exports likely

10 percent fall in leather goods' exports likely

Exports of leather goods are likely to decline by 10 percent during the current fiscal year, as compared to the preceding year, due to severe energy shortage. Leather goods worth $1 billion were exported last year. However, a massive decline is expected t
Published 17 Dec, 2011 12:00am
Export to Afghanistan: poplar's wood exporters worried over illegal tax

Export to Afghanistan: poplar's wood exporters worried over illegal tax

Exporters have expressed concern over illegal tax on export of poplar's wood to Afghanistan, said Chairman, All Peshawar Poplar Wood Dealers Association, Khair Mohammad speaking at a news conference, here on Friday. He said that the forest department was
Published 17 Dec, 2011 12:00am
SCCI seeks preferential market access to Iran

SCCI seeks preferential market access to Iran

The Sarhard Chamber of Commerce and Industry (SCCI) has sought preferential market access to Iran because its local manufactured products are inaccessible despite proximity of borders, whereas Indian products are more in use in the Iranian market.
Published 17 Dec, 2011 12:00am
Noor Khan's death condoled

Noor Khan's death condoled

Acting President, Farooq H. Naik and Acting Chairman Senate, Mir Jan Muhammad Khan Jamali on Friday expressed deep grief over the demise of Air Marshal Noor Khan (Retd) who passed away Thursday. Acting President and Acting Chairman Senate in their separat
Published 17 Dec, 2011 12:00am
Smeda extends support to CFGA

Smeda extends support to CFGA

Small and Medium Enterprises Development Authority (Smeda) extended full co-operation to Cut Flower Growers Association (CFGA), Khyber Pakhtunkhwa for the registration of the body with the department of industries. The decision was taken in a meeting held
Published 17 Dec, 2011 12:00am
US MIDDAY: gold rallies

US MIDDAY: gold rallies

Gold rallied on Friday after a sharp pullback in the four previous sessions, gaining support from a weaker dollar and short-cover buying, but the metal remained on track for its biggest weekly decline in almost three months. Spot gold rallied as much as 1
Published 17 Dec, 2011 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

Copper rose early on Friday on a retreating dollar and firm US economic data, but anxiety over the eurozone's sovereign debt woes threatens to curb the red metal's gains going into next week. "Copper is rallying with other commodities, primarily due to ma
Published 17 Dec, 2011 12:00am
US MIDDAY: soya jumps

US MIDDAY: soya jumps

US soyabean futures jumped Friday as forecasters warned that unfavourable dryness will persist in Argentina, increasing stress on crops in the world's No 3 soyabean exporter. At 11:38 am CST, soyabeans for January delivery were up 12-1/4 cents, or 1.1%, t
Published 17 Dec, 2011 12:00am
Gold up but still on track for big weekly fall

Gold up but still on track for big weekly fall

Gold rallied on Friday after a sharp pullback in the four previous sessions, gaining support from a weaker dollar, but the metal remained headed for its biggest weekly fall in almost three months. Spot gold rallied as much as 1.96 percent to $1,600.49 per
Published 17 Dec, 2011 12:00am
Gold rallies in Asia

Gold rallies in Asia

Spot gold staged a strong rally on Friday, snapping four sessions of losses with possibly its biggest one-day gain this month, as a smooth Spanish bond auction and upbeat US jobs data supported sentiment. Spot gold rallied as much as 1.6 percent to $1,595
Published 17 Dec, 2011 12:00am
US gold hovers at 2-1/2 month low

US gold hovers at 2-1/2 month low

Spot gold prices hovered at 2 1/2 month lows close to $1,560 an ounce in New York on Thursday afternoon as fund selling resumed, forcing bullion to break from its traditional inverse correlation with the dollar. Spot gold was down 0.35 percent at $1,568.6
Published 17 Dec, 2011 12:00am
Coffee and sugar up

Coffee and sugar up

Arabica coffee futures on ICE fell to a one-year low for the fourth time this week on Friday, weighed down by harvest pressure from Central America, while cocoa settled weak. Sugar was firm on short-covering and consolidative dealings. "The (arabica) harv
Published 17 Dec, 2011 12:00am
Soyabeans rally; corn and wheat dip

Soyabeans rally; corn and wheat dip

US soyabean futures rose 1 percent on Thursday on short-covering due to dry weather in key crop areas of South America that could crimp production and boost demand for supplies from the United States. A weakening dollar helped agricultural commodities but
Published 17 Dec, 2011 12:00am
Palm oil rises

Palm oil rises

Malaysian crude palm oil futures rose by as much as 1.4 percent on Friday, rebounding from the previous day's six-week low and tracking gains in other markets, but traders expected the eurozone worries to dampen sentiment. The benchmark March palm oil fut
Published 17 Dec, 2011 12:00am
Tokyo rubber futures higher

Tokyo rubber futures higher

Tokyo rubber futures ended higher on Friday on the back of brighter US economic data and firm oil prices, but some operators chose to take quick profits ahead of the weekend as the market is still jumpy, dealers said. The benchmark rubber contract on the
Published 17 Dec, 2011 12:00am
Oil falls back as Europe concerns weigh

Oil falls back as Europe concerns weigh

Oil fell on Friday and headed for a weekly loss as Europe's debt crisis continued to weigh on prices, while a drop below a key technical level by US crude added to the bearish sentiment. Brent crude oil futures settled lower on Friday on persistent concer
Published 17 Dec, 2011 12:00am
Copper moves up

Copper moves up

Copper rose on Friday, due to a retreating dollar and firm US economic data, but gains look vulnerable going into next week with Europe's debt crisis and its impact on metals demand still causing concern. Industrial metals have fallen this year as Europe'
Published 17 Dec, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

Copper prices rebounded on Friday, paring losses for the week, after the US economy showed signs of recovery, while Europe's debt crisis slowed demand in emerging markets. The most-traded February copper contract on the Shanghai Futures Exchange gained 2.
Published 17 Dec, 2011 12:00am
US copper down

US copper down

Copper closed broadly flat after seesaw trade on Thursday, as early technical buying after a plunge on Wednesday was stemmed by persistent fears of a eurozone recession that could hammer demand from top consumer China. In New York, the key March COMEX con
Published 17 Dec, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures finished with moderate gains on Thursday, but prices could soon resume their downside trek, with little fundamental or technical news to keep them bolstered. On Wednesday, cotton dipped to a 16-month low, it's third in as many days. Though
Published 17 Dec, 2011 12:00am
Last US base handed to Iraq ahead of pullout

Last US base handed to Iraq ahead of pullout

Iraq took control of the last American military base in the country on Friday, a day after US forces marked the end of their mission, bringing a divisive war to a low-key conclusion. The transfer of the sprawling installation on the outskirts of the south
Published 17 Dec, 2011 12:00am
Libyan leader demands release of Qadhafi's billions

Libyan leader demands release of Qadhafi's billions

Libya's interim leadership Friday demanded the release of up to $160 billion (122 billion euros) of assets frozen in sanctions against former dictator Mummar Qadhafi. "All the Libyan people want from the international community is to try to speed the proc
Published 17 Dec, 2011 12:00am
Yemenis protest against amnesty for Saleh

Yemenis protest against amnesty for Saleh

Hundreds of thousands of Yemenis demonstrated Friday across the country rejecting an amnesty given to President Ali Abdullah Saleh against prosecution in a deal that eases him out of office. "A trial is a must and amnesty is rejected," chanted demonstrato
Published 17 Dec, 2011 12:00am
Syrians hold mass rallies to demand Arab action

Syrians hold mass rallies to demand Arab action

Hundreds of thousands of Syrians protested nine months into their uprising on Friday, demanding the Arab League hasten its response to a bloody crackdown on dissent, activists said. The protests came after Russia, a long-time ally of embattled President B
Published 17 Dec, 2011 12:00am
Ouattara coalition sweeps Ivorian polls

Ouattara coalition sweeps Ivorian polls

Ivorian President Alassane Ouattara's ruling coalition won four fifths of seats in parliament, provisional election results showed on Friday, boosting his hand in governing the war-scarred West African state. His RDR party took 127 of the National Assembl
Published 17 Dec, 2011 12:00am
Senate passes new rules on detainees, sends to Obama

Senate passes new rules on detainees, sends to Obama

Congress Thursday approved a defence bill requiring the military to handle suspected foreign militants allied with al Qaeda, sending it to President Barack Obama for his expected signature into law. Final action came when the Senate approved the bill in a
Published 17 Dec, 2011 12:00am
US man sentenced for threatening Obama

US man sentenced for threatening Obama

A Mississippi man has been sentenced to 10 months in prison for threatening to kill President Barack Obama and blow up a hospital that refused surgery for his wife. David Williams was arrested in July after University of Mississippi Medical Centre officia
Published 17 Dec, 2011 12:00am
Two die as bloody clashes overshadow Egypt election

Two die as bloody clashes overshadow Egypt election

At least two persons were killed and more than 170 hurt on Friday as Egyptian protesters and security forces clashed in the worst violence in weeks, which overshadowed vote counting in the latest round of a landmark general election. "One person died of s
Published 17 Dec, 2011 12:00am
Clashes kill 10 on Kazakh independence day

Clashes kill 10 on Kazakh independence day

Ten people were killed when sacked oil workers clashed with riot police in Kazakhstan on Friday, a rare violent protest in the tightly controlled Central Asian state that overshadowed celebrations to mark 20 years of independence. Several people were also
Published 17 Dec, 2011 12:00am
UK court upholds English-speaking rule for immigrants

UK court upholds English-speaking rule for immigrants

A High Court judge on Friday dismissed a legal challenge to a new immigration rule that requires people to be able to speak English before moving to Britain to live with their partner or spouse. Judge Jack Beatson said the language test, introduced in Nov
Published 17 Dec, 2011 12:00am
Dutch church sexually abused thousands: commission

Dutch church sexually abused thousands: commission

Tens of thousands of children have been victims of sexual abuse by the Roman Catholic Church in the Netherlands since 1945, an independent commission said on Friday, criticising what it called the church's cover-up and culture of silence. Church leaders s
Published 17 Dec, 2011 12:00am
South Korea announces new sanctions on Iran

South Korea announces new sanctions on Iran

South Korea Friday joined a fresh multinational effort to press Iran to scrap its suspected nuclear weapons programme, adding more than 100 names to a financial blacklist of Iranian firms and individuals. The measures announced by the finance ministry did
Published 17 Dec, 2011 12:00am
Russia seizes Iran-bound radioactive material

Russia seizes Iran-bound radioactive material

Russia's customs service said on Friday it had seized radioactive sodium-22, an isotope that is used in medical equipment but has no weapons use, from the luggage of a passenger planning to fly from Moscow to Tehran. The service said in a statement that t
Published 17 Dec, 2011 12:00am
Nafa Fund as Collateral

Nafa Fund as Collateral

The Karachi Stock Exchange (KSE) has informed all its members that NAFA Government Securities Liquid Fund has completed all eligibility requirements of the acceptance as collateral. Therefore, the same would be acceptable as collateral against margins req
Published 17 Dec, 2011 12:00am
Nafa Fund as Collateral

Nafa Fund as Collateral

The Karachi Stock Exchange (KSE) has informed all its members that NAFA Government Securities Liquid Fund has completed all eligibility requirements of the acceptance as collateral. Therefore, the same would be acceptable as collateral against margins req
Published 17 Dec, 2011 12:00am
Transfers, postings of EOBI officials

Transfers, postings of EOBI officials

The chairman Employees' Old-Age Benefits Institution (EOBI) has transferred Director General Adjudicating authority-I, Karachi, Mohammad Hanif and posted him as Director General, Human Resource and General Administration, Head Office, Karachi. While Deput
Published 17 Dec, 2011 12:00am
Government vehicle snatched

Government vehicle snatched

A government vehicle on Friday was snatched at gunpoint at Gulistan-e-Johar in the limits of Shahrah-e-Faisal police station. According to police, two unknown armed men snatched a government car (GS-5623) from Audit officer of A.G Sindh Sajid Ali Khan. Po
Published 17 Dec, 2011 12:00am
Excessive use of 'Gutka': chief minister Sindh takes notice

Excessive use of 'Gutka': chief minister Sindh takes notice

Chief Minister, Sindh Syed Qaim Ali Shah has taken serious notice of a report appeared in a section of press regarding use of Gutka in many districts particularly in the locality of Ibrahim Hyderi in Karachi. Qaim directed minister excise & taxation and a
Published 17 Dec, 2011 12:00am
KESC centres' water disconnected

KESC centres' water disconnected

Site Ltd has disconnected the water connection of four centres of Karachi Electric Supply Company (KESC) for non payment of its Rs 10 million dues. In a statement, the authority claimed that the KESC was a defaulter of Site Ltd and it had to pay Rs 7.62 m
Published 17 Dec, 2011 12:00am
Samsung celebrates record-breaking handset sales

Samsung celebrates record-breaking handset sales

Samsung Electronics Co, Ltd, on Friday announced that it has this year achieved annual mobile handset sales of 300 million units for the first time in Samsung's history. The Managing Director of Samsung Pakistan, Hee Chang Yee said; "We are incredibly pro
Published 17 Dec, 2011 12:00am
Wasan asks media not to give importance to Mansoor Ijaz

Wasan asks media not to give importance to Mansoor Ijaz

Terming the memo as concoction by a US citizen (Mansoor Ijaz), Sindh Home Minister Manzoor Wasan on Friday asked the media not to give importance to him. Talking to reporters after Sindh Assembly session, the minister said the memo issue was a concoction
Published 17 Dec, 2011 12:00am
Water supply to tanneries: PTA seeks Sindh Governor's help

Water supply to tanneries: PTA seeks Sindh Governor's help

Pakistan Tanners Association (PTA) in an SOS sent to Sindh Governor Dr Ishratul Ebad Khan has urged him to direct Karachi Water and Sewerage Board (KWSB) to immediate supply water to the tannery zone in Korangi Industrial Area. In a communication, Chairma
Published 17 Dec, 2011 12:00am
'Religious teachings necessary to promote peace'

'Religious teachings necessary to promote peace'

A leader of Pakistan Muslim League-N (PML-N), Hamza Shahbaz Sharif MNA has said that all religions give a lesson of humanity, peace and love and we can become a real nation by implementing it in letter and spirit. He said that extremism is not solution to
Published 17 Dec, 2011 12:00am
Detention period of former LJ leaders extended

Detention period of former LJ leaders extended

Review board comprising judges of the Lahore High Court has extended one month detention of former leaders of banned Lashkar-e-Jhangvi, Malik Ishaq and Ghulam Rasool Shah, here Friday. The board comprising Justice Nasir Saeed Sheikh, Justice Manzoor Ahmed
Published 17 Dec, 2011 12:00am
Awan smells conspiracy against Parliament

Awan smells conspiracy against Parliament

While smelling conspiracy against the Parliament, senior Pakistan People's Party (PPP) leader and former law minister Babar Awan has said that the rope is being tightened up around the parliament's neck. Referring to Pakistan's disintegration, he lamented
Published 17 Dec, 2011 12:00am
Engineers Convention held

Engineers Convention held

The Engineers Pakistan on Thursday organised Pakistan's largest engineers' convention in Lahore, which was titled as 'Role and Protection of Engineers'. Engr. Rehman Maqbool, Engr. M. Sadiq, Dr M. Yasin Bhatti, Engr. Bakht Bahadur Rana, Engr. Mushtaq Gill
Published 17 Dec, 2011 12:00am
Sakura Restaurant introduces new menu

Sakura Restaurant introduces new menu

A new menu was introduced at the famous Sakura Restaurant of the Marriott Hotel, here on Friday. Japan Ambassador to Pakistan, Hiroshi Oe graced the occasion as chief guest attended by a large number of the elite of the city including ambassadors, diploma
Published 17 Dec, 2011 12:00am
Al-Ghazi, Millat tractors close down manufacturing units

Al-Ghazi, Millat tractors close down manufacturing units

Two main tractor manufacturing units Al-Ghazi Tractors and Millat Tractors have suspended their production after plummeting of their sales as levy of 16 percent GST has made the farm machinery costlier and Zarai Taraqiati Bank Limited has stopped tractor
Published 17 Dec, 2011 12:00am
Suspected WikiLeaks source appears in US court

Suspected WikiLeaks source appears in US court

An American Army intelligence analyst accused of giving hundreds of thousands of classified US documents to WikiLeaks for public disclosure made his first court appearance on Friday to face charges including aiding the enemy, which could send him to priso
Published 17 Dec, 2011 12:00am
Sri Lankan war panel clears military of civilian deaths

Sri Lankan war panel clears military of civilian deaths

A Sri Lankan government commission's inquiry into the conduct of the island's civil war has cleared the military of deliberately targeting civilians in the final stages of the conflict. In a 400-page report presented in parliament Friday, the commission s
Published 17 Dec, 2011 12:00am
Former army chief loses appeal

Former army chief loses appeal

A Sri Lankan Appeal Court on Friday dismissed former army chief Sarath Fonseka's plea against his 30-month prison sentence, a court official said. In a unanimous decision, the Appeal Court upheld the court martial's verdict which sentenced Fonseka in Sept
Published 17 Dec, 2011 12:00am
Bangladeshis celebrate anniversary

Bangladeshis celebrate anniversary

Tens of thousands of people gathered in Bangladesh Friday to pay tribute to those who fell in the fight for independence, and call for prosecution of alleged war criminals. The crowd outside the Savar National Mausoleum on the outskirts of capital Dhaka c
Published 17 Dec, 2011 12:00am
Former Thai Prime Minister Thaksin gets passport back

Former Thai Prime Minister Thaksin gets passport back

Thailand has given its fugitive former premier Thaksin Shinawatra his passport back, the government said Friday, despite strong opposition from the ex-tycoon's political opponents. Thaksin, whose sister Yingluck is now prime minister, received the documen
Published 17 Dec, 2011 12:00am
Putin's popularity takes a hit ahead of vote

Putin's popularity takes a hit ahead of vote

Vladimir Putin's approval ratings have declined to historic lows, polls showed Friday, as liberal media suggested the powerful prime minister was growing out of touch after Russia was swept by protests. The day earlier Putin gave one of his trademark stro
Published 17 Dec, 2011 12:00am
Indian student named world's shortest living woman

Indian student named world's shortest living woman

An Indian student measuring just 62.8 centimetres (less than two foot, one inch) was on Friday confirmed as the world's shortest living woman, Guinness World Records said on Friday. Jyoti Amge took the title as she celebrated her 18th birthday with family
Published 17 Dec, 2011 12:00am
Australian terror conspirators jailed for 18 years

Australian terror conspirators jailed for 18 years

Three men who conspired to kill as many people as possible in a gun attack on an Australian military base were Friday sentenced to 18 years in jail, with the judge describing their plans as "evil". A jury found Wissam Mahmoud Fattal, 35 and Nayev El Sayed
Published 17 Dec, 2011 12:00am
New Tunisian president to sell off Ben Ali's palaces

New Tunisian president to sell off Ben Ali's palaces

Tunisia's new president announced on Friday he would sell off most of the presidential palaces built by the country's ousted dictator and use the cash to fund new jobs, a gesture aimed at soothing anger over high unemployment. Protests demanding jobs and
Published 17 Dec, 2011 12:00am
Tunisia lifts arrest warrant against Arafat widow

Tunisia lifts arrest warrant against Arafat widow

Tunisia has decided to lift an international arrest warrant for alleged corruption issued in October against Suha Arafat, the widow of the late Palestinian leader, a judicial spokesman said Friday. "The magistrate in charge of the case decided to lift the
Published 17 Dec, 2011 12:00am
Poll shows Obama re-election bid threatened

Poll shows Obama re-election bid threatened

Most Americans say President Barack Obama deserves to be voted out of office even though they have concerns about the Republican alternatives, a new Associated Press-GFK poll suggests. The poll indicates Obama could be in jeopardy of losing a re-election
Published 17 Dec, 2011 12:00am
Indonesia investment rating restored after 14 years

Indonesia investment rating restored after 14 years

Indonesia on Thursday recovered its coveted investment grade status from Fitch Ratings, the first of the three major ratings agencies poised to give the emerging economy a lift. The move crowns nearly a decade of steady economic improvement in Southeast A
Published 17 Dec, 2011 12:00am
Interpol offers help to battle cricket corruption

Interpol offers help to battle cricket corruption

Interpol said Friday it was looking at a possible tie-up with the International Cricket Council (ICC) and the Indian board to help fight the growing menace of match-fixing and illegal betting. The proposal was made by Interpol secretary general Ronald Nob
Published 17 Dec, 2011 12:00am
English sides get tough Europa draw

English sides get tough Europa draw

Neither Manchester United nor Manchester City were too pleased at the prospect of competing in the Europa League in the New Year, but both were handed mouth-watering ties when the last 32 draw was made on Friday in Switzerland. Competing in the Europa Lea
Published 17 Dec, 2011 12:00am
Pakistan look to wrap up Bangladesh series

Pakistan look to wrap up Bangladesh series

Pakistan are confident of a 2-0 rout of struggling Bangladesh with another solid all-round performance in the second and final Test starting in Dhaka on Saturday. The tourists toyed with Bangladesh in the opening Test, racing to an innings and 184-run vic
Published 17 Dec, 2011 12:00am
Tough Champions league draw for Chelsea, Arsenal

Tough Champions league draw for Chelsea, Arsenal

England's two surviving representatives in the Champions League, Chelsea and Arsenal, were handed tough ties against Italian opposition in Friday's draw for the last 16, while holders Barcelona will come up against Germany's Bayer Leverkusen.
Published 17 Dec, 2011 12:00am
Pakistan mourns legendary

Pakistan mourns legendary

Former greats mourned Pakistan's legendary sports administrator Nur Khan on Friday, saying his contributions fuelled the country's success in cricket, field hockey and squash. The 88-year-old Khan, who was also a former Air Marshal in the air force, died
Published 17 Dec, 2011 12:00am
Katich in line for shock recall

Katich in line for shock recall

Opener Simon Katich could be in line for a shock recall to Australia's Test team, reports said Friday, just weeks after being disciplined for outspoken comments about captain Michael Clarke. The 36-year-old was reprimanded by a Cricket Australia hearing t
Published 17 Dec, 2011 12:00am
Real Madrid to open academies in Indonesia

Real Madrid to open academies in Indonesia

Real Madrid will open at least seven football academies for children in Indonesia next year, Indonesia's sport ministry said on Friday. "Real Madrid has agreed to open the schools next year, although we don't know when exactly. We are very open to collabo
Published 17 Dec, 2011 12:00am
Afghanistan in debut One-day versus Pakistan

Afghanistan in debut One-day versus Pakistan

Pakistan and Afghanistan will play their first ever One-day international cricket match in Sharjah next February, the Pakistan Cricket Board (PCB) announced Friday. It will be Afghanistan's first One-day against a top international team, taking place in t
Published 17 Dec, 2011 12:00am
De Villiers puts South Africa on top

De Villiers puts South Africa on top

A thrilling innings of 99 by AB de Villiers put South Africa in a strong position on the second day of the first Test against Sri Lanka at SuperSport Park on Friday. On a day when batsmen continued to struggle on a difficult pitch, De Villiers played some
Published 17 Dec, 2011 12:00am
Pakistan, England to play side games ahead of series

Pakistan, England to play side games ahead of series

Pakistan and England cricket teams will play warm up match ahead of their Test series in January-February next year. According to a spokesman of Pakistan Cricket Board (PCB) the warm up games will played from January 7-9, England will play an ICC combined
Published 17 Dec, 2011 12:00am
Tendulkar retires eight short of century

Tendulkar retires eight short of century

Sachin Tendulkar sacrificed a century to give his Indian teammates crucial batting time ahead of the Test series with Australia in their drawn tour match in Canberra on Friday. Tendulkar, poised on 99 international centuries across Test and one-day matche
Published 17 Dec, 2011 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian and New Zealand dollars found a tentative footing on short-covering gains on Friday, having slipped to two-week troughs when worries surrounding the European debt crisis fed a bid for safe-havens like government debt. The Aussie dollar edge
Published 17 Dec, 2011 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc hovered close to a six-week high against the euro on Friday after traders, disappointed by the Swiss National Bank's decision not to shift the cap on the euro-franc exchange rate, piled money into the currency in the previous session. The
Published 17 Dec, 2011 12:00am
Most Asian currencies slide

Most Asian currencies slide

The rupee and the rupiah led gains among Asian peers on Friday after positive developments in India and Indonesia, but most emerging Asian currencies suffered a second week of losses and further slides are expected. Boosting the rupiah was Fitch Ratings'
Published 17 Dec, 2011 12:00am
Indian rupee rebounds

Indian rupee rebounds

The Indian rupee jumped more than 2 percent on Friday and was on track to post its biggest single-day rise in more than two years after the central bank took steps to stem the currency's plunge to a series of record lows. At 10:47 am (0517 GMT), the rupee
Published 17 Dec, 2011 12:00am
Yuan jumps

Yuan jumps

The yuan jumped to a record high on Friday against the dollar on suspected intervention orchestrated by the central bank, its most explicit action in three months to deter speculators from betting on a fall in the currency. The People's Bank of China (PBO
Published 17 Dec, 2011 12:00am
Euro springs back

Euro springs back

The euro rose against the dollar on Thursday after three straight days of losses as upbeat US economic data and signs of improvement in the eurozone stoked risk appetite, though the rally was likely to be short-lived. The euro jumped to a global session h
Published 17 Dec, 2011 12:00am
Early trade in New York: Euro gains versus dollar

Early trade in New York: Euro gains versus dollar

The euro rose against the dollar on Friday, rebounding from recent losses, but was on track for its worst weekly performance in three months as the threat of eurozone sovereign downgrades kept investors wary of buying the common currency. The euro has fal
Published 17 Dec, 2011 12:00am
Euro rises in London

Euro rises in London

The euro edged higher against the dollar on Friday but stayed on track for its worst weekly performance in more than three months, with the threat of eurozone sovereign downgrades keeping investors wary of buying the common currency. The single currency h
Published 17 Dec, 2011 12:00am
Euro slide pauses in Asia

Euro slide pauses in Asia

The euro was poised to end its worst week in about three months on an upbeat note, taking heart from light short-covering in most riskier assets on Friday on the back of a well-bid Spanish bond sale and solid US economic data. But the mood remained brittl
Published 17 Dec, 2011 12:00am
Sterling steadies

Sterling steadies

Sterling steadied near 10-month highs against the euro on Friday as the euro zone's debt crisis cast a shadow over the single currency, but the fragile state of the UK economy could cap further gains for the pound. The mood in the euro zone remained britt
Published 17 Dec, 2011 12:00am
Britain's large-caps index a touch lower

Britain's large-caps index a touch lower

Britain's large-caps index closed a touch lower on Friday after giving away gains in late trading, with profit taking on defensive stocks more than offsetting a rally among miners and energy shares. The FTSE 100 closed down 13.5 points, or 0.3 percent, at
Published 17 Dec, 2011 12:00am
Hong Kong and Chinese shares snap six-day losing streaks

Hong Kong and Chinese shares snap six-day losing streaks

Hong Kong and China shares snapped six-day losing streaks on Friday, with gains accelerating in mid-afternoon on speculation Beijing could act to boost confidence following suspected intervention to support the yuan.C hinese financial, property and resour
Published 17 Dec, 2011 12:00am
European shares fall on downgrade worries

European shares fall on downgrade worries

European shares ended lower on Friday after a choppy session, as multiple equity derivative contract expiries and fears of fresh corporate or sovereign credit rating downgrades over the weekend weighed on sentiment. The pan-European FTSEurofirst 300 index
Published 17 Dec, 2011 12:00am
Indian shares slip over two-year low

Indian shares slip over two-year low

Indian shares fell 2.2 percent to their lowest close in more than two years on Friday, underlining investor gloom about the economic outlook even after the central bank said it would likely start easing monetary policy. The benchmark 30-share BSE index fe
Published 17 Dec, 2011 12:00am
Australian shares tick up

Australian shares tick up

Australian shares rose snapped a three-day losing streak to gain 0.5 percent on Friday as signs of strength in the US economy temporarily broke through gloom over the European debt crisis that had driven a sell-off in riskier assets. Traders cautioned, ho
Published 17 Dec, 2011 12:00am
Treasuries edge lower

Treasuries edge lower

US Treasuries prices edged lower on Thursday as unemployment and manufacturing data suggested the economy was picking up steam, but price declines were limited, with most Treasury maturities ending the day unchanged in price. New US claims for unemploymen
Published 17 Dec, 2011 12:00am
Treasuries edge lower

Treasuries edge lower

US Treasuries prices edged lower on Thursday as unemployment and manufacturing data suggested the economy was picking up steam, but price declines were limited, with most Treasury maturities ending the day unchanged in price. New US claims for unemploymen
Published 17 Dec, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks closed finished up 0.3 percent on Friday, with Asustek Computer Inc recovering from early losses after a company official said the number of tablets involved in a product recall was only about 300. Asustek gained 1.7 percent, beating the mai
Published 17 Dec, 2011 12:00am
US stocks rise on data, FedEx

US stocks rise on data, FedEx

US stocks rose on Thursday, as signs of strength in the economy and higher-than-expected profit at FedEx outweighed more warnings about Europe. The US equity market continued its familiar back-and-forth rotation between optimism about the US economy and f
Published 17 Dec, 2011 12:00am
Friday's midday trade: Wall Street up

Friday's midday trade: Wall Street up

US stocks rose Friday, with growth-related shares leading the way as investors focused on a brighter US economic outlook. Reversing a recent trend of trading in tandem with European stocks, US equities were on track to post their best day this week. US fi
Published 17 Dec, 2011 12:00am
Nikkei rises modestly

Nikkei rises modestly

Japan's Nikkei share average rose modestly on Friday after signs of strength in the US economy but it slipped for the week, as investors continue to worry about the impact of Europe's debt crisis. Online gaming firm Nexon Co was the biggest loser on the m
Published 17 Dec, 2011 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares rose on Friday, buoyed by signs of strength in the US economy and a solid bounce in battered automakers, but gains were limited by institutional selling that continued for a second consecutive session. "US data and the fact that market was ri
Published 17 Dec, 2011 12:00am
South East Asian markets gain

South East Asian markets gain

Southeast Asian stock markets gained on Friday after better data on the US economy helped offset worries about the eurozone, at least for now, and Indonesia led the way after a credit rating upgrade and approval of an important land bill. A fall in unempl
Published 17 Dec, 2011 12:00am
Indian central bank shifts focus to growth, rates on hold

Indian central bank shifts focus to growth, rates on hold

India's central bank sent a strong signal on Friday that its next move is likely to be an easing of monetary policy as risks to economic growth increase, but left its policy rate on hold at a three-year high as it acknowledged high inflation. As expected,
Published 17 Dec, 2011 12:00am
Delta Petroleum files for bankruptcy

Delta Petroleum files for bankruptcy

Kirk Kerkorian-backed Delta Petroleum Corp filed for Chapter 11 bankruptcy protection, as unproductive assets hindered the gas-focussed energy company's efforts to find a buyer. The company, 93 percent of whose total production consists of natural gas, ha
Published 17 Dec, 2011 12:00am
China says job creation a vital task

China says job creation a vital task

China wants to create 85 million jobs and hold its unemployment rate under 5 percent in the next four years, the government said on Friday, in a sign that Beijing is worried industrial unrest could rise as the economy slows. A statement on the central gov
Published 17 Dec, 2011 12:00am
Portugal Prime Minister rejects greater crisis role for ECB

Portugal Prime Minister rejects greater crisis role for ECB

Portugal, mired in recession and propped up by international aid, rejected calls on Friday for the European Central Bank to turn to the printing presses to boost economic growth in the eurozone. Many economists, along with French President Nicolas Sarkozy
Published 17 Dec, 2011 12:00am
Congress strikes deal to avert government shutdown

Congress strikes deal to avert government shutdown

US congressional leaders struck Thursday a $1 trillion funding deal to avert a pre-Christmas government shutdown, as talks between Democrats and Republicans for once defused a bitter confrontation. Negotiators were also considering an extension of a payro
Published 17 Dec, 2011 12:00am
US inflation eases, creates space for Fed stimulus

US inflation eases, creates space for Fed stimulus

US consumer prices were flat in November as Americans paid less for cars and gasoline, a further sign of a cool down in inflation that could give the Federal Reserve more room to help a still-weak economy. The Labour Department said Friday the Consumer Pr
Published 17 Dec, 2011 12:00am
Occupy groups takes 'golden calf' to US Congress

Occupy groups takes 'golden calf' to US Congress

Some 30 "Occupy DC" protesters took their anti-corporate demonstration to the corridors of the US Congress, toting a "golden calf" made from papier mache to symbolise lawmakers' subservience to moneyed interests. The protest, according to group leader Jer
Published 17 Dec, 2011 12:00am
WTO approves Russia's membership after marathon

WTO approves Russia's membership after marathon

Russia was admitted into the World Trade Organisation on Friday after 18 years of negotiation, finally binding it into the global economy two decades after the Soviet Union collapsed. Russia's $1.9 trillion economy was the largest outside the WTO, and acc
Published 17 Dec, 2011 12:00am
Eurozone posts trade surplus; wages up in third quarter

Eurozone posts trade surplus; wages up in third quarter

The eurozone had a slightly higher than expected trade surplus in October, non-adjusted data showed on Friday, but the bloc's performance was substantially weaker than a year ago. European Union statistics office Eurostat said the surplus for the 17 count
Published 17 Dec, 2011 12:00am
Cameron reaches oil spill deal with BP

Cameron reaches oil spill deal with BP

Cameron International Corp agreed to give BP Plc $250 million to help pay for costs associated with the UK oil company's 2010 Gulf of Mexico oil spill disaster. Investors relieved that the deal removes uncertainty over Cameron's financial obligations push
Published 17 Dec, 2011 12:00am
Italy's Prime Minister warns policymakers against dividing Europe

Italy's Prime Minister warns policymakers against dividing Europe

Italy's prime minister urged European policymakers on Friday to beware of dividing the continent with their efforts to fight its debt crisis, warning against a "short-term hunger for rigour" in some countries, in a swipe at Germany.
Published 17 Dec, 2011 12:00am
EU, IMF halt Hungary talks after central bank row

EU, IMF halt Hungary talks after central bank row

The EU and IMF on Friday cut short talks with Hungary aimed at paving the way for aid discussions, pressuring the government to amend a controversial central bank bill or face possible financing problems next year. Hungary's centre-right government, which
Published 17 Dec, 2011 12:00am
EU sets out 'compact' for tighter fiscal rules

EU sets out 'compact' for tighter fiscal rules

EU officials laid out a new agreement to tighten fiscal rules for the eurozone and other participating EU countries on Friday, hoping to push ahead with deeper economic integration and get on top of the two-year-old debt crisis. The eight-page draft agree
Published 17 Dec, 2011 12:00am
Indonesia to tighten rules for foreign firms like RIM

Indonesia to tighten rules for foreign firms like RIM

Indonesia will next year order foreign providers of electronic transactions such as Research In Motion to build local data centres and may ultimately stop them operating if they fail to comply, a senior government official said on Friday. The aim of the c
Published 17 Dec, 2011 12:00am
Investors falling out of love with hedge funds

Investors falling out of love with hedge funds

Deep cracks are starting to show in the love affair between hedge funds and their investors, after another year of paltry returns on expensive investments leaves many feeling cheated and close to bailing out. An asset class once feted for its ability to m
Published 17 Dec, 2011 12:00am
Investors falling out of love with hedge funds

Investors falling out of love with hedge funds

Deep cracks are starting to show in the love affair between hedge funds and their investors, after another year of paltry returns on expensive investments leaves many feeling cheated and close to bailing out. An asset class once feted for its ability to m
Published 17 Dec, 2011 12:00am
India's BPCL unable to pay for Iran oil via Turkey

India's BPCL unable to pay for Iran oil via Turkey

India's BPCL is unable to pay for crude it is buying from Iran, three oil industry sources told Reuters on Thursday, in yet another sign Asian buyers are struggling to do business with the Islamic Republic. India is Iran's second-largest crude buyer, taki
Published 17 Dec, 2011 12:00am
Asia-Pac M&A volume set to rise by 33 percent in 2012

Asia-Pac M&A volume set to rise by 33 percent in 2012

Merger and acquisition volume in the Asia-Pacific region, excluding Japan, is set to rise by a third next year after dipping in 2011, Thomson Reuters/Freeman Consulting estimates showed, as cashed-up Asian companies step up acquisitions using depressed as
Published 17 Dec, 2011 12:00am
Credit Agricole slims down with private equity sale

Credit Agricole slims down with private equity sale

Credit Agricole, is selling its private equity unit for more than 300 million euros ($390 million), a banking source close to the deal said, as the French bank looks to cut its exposure to risky assets. In spite of large disposals in 2011, banks still hav
Published 17 Dec, 2011 12:00am
Price fall continues despite mills' fresh buying on cotton market

Price fall continues despite mills' fresh buying on cotton market

Mills active buying was seen on the cotton market on Friday as falling trend in the prices attracted them and exporters were also in market but in few numbers, dealers said. The Karachi Cotton Association (KCA) official spot rate slashing was extended, lo
Published 17 Dec, 2011 12:00am
Syria issues new tender for 100,000 tonnes of wheat

Syria issues new tender for 100,000 tonnes of wheat

Syria's state grains agency has issued a new international tender to purchase 100,000 tonnes of soft milling wheat, European traders said on Thursday. The bidding deadline was January 9, 2012, with shipment sought within two months from the opening of a l
Published 17 Dec, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 33,758 tonnes of cargo comprising 11,821 tonnes of import cargo and 21,937 tonnes of export cargo including 1,714 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 11,821 tonne
Published 17 Dec, 2011 12:00am
Prices of India's pigeon peas may rise on low output

Prices of India's pigeon peas may rise on low output

India's pigeon peas, a yellow lentil used to make the popular dal dish, could rise 10 percent in the next two months as output falls on lower yields and less acreage sown, traders and farmers said, potentially boosting imports and adding to high inflation
Published 17 Dec, 2011 12:00am
Spain begins to import Ukrainian wheat

Spain begins to import Ukrainian wheat

Spanish importers have begun to ship Ukrainian feed wheat in advance of a European Union auction of permits in the New Year and hefty volumes are expected in January, port and trade sources said in the major grain-buying country. In January, Brussels is d
Published 17 Dec, 2011 12:00am
Vietnam may cut 2012 rice exports to 6.5 million tonnes

Vietnam may cut 2012 rice exports to 6.5 million tonnes

Vietnam may cut its 2012 rice exports to 6.5 million tonnes after shipping a record volume of 7.2 million tonnes this year, and prices could fall on ample supply, a state-run newspaper quoted an Agriculture Ministry official on Thursday as saying.
Published 17 Dec, 2011 12:00am
Rates unchanged on grain market

Rates unchanged on grain market

Prices of commodities were unchanged on the wholesale grain and oilseed markets on Friday as almost all the participants were busy in preparations for Juma prayers, grain and seed merchants group's press release said.
Published 17 Dec, 2011 12:00am
Marriage and mental health

Marriage and mental health

Needless to say that the concept of marriage is a contract between a man and a woman to live together for the rest of their lives, procreate and move forward. In the ancient times, there were no clear rules in terms of social obligations associated with m
Published 17 Dec, 2011 12:00am
Finding Heroes

Finding Heroes

Why does anyone need to find heroes in the first place and where do you look for them? While this may sound like a bad cliché, but everyone needs heroes. A psychologist might be better suited to elaborate on the reasons thereof; briefly heroes are inspira
Published 17 Dec, 2011 12:00am
KARACHI CHRONICLE: Winter fires

KARACHI CHRONICLE: Winter fires

Some 50 huts were gutted, but no one was hurt, in a fire that broke out in the dark hours of Sunday morning (December 11) in Gulshan-i-Iqbal Block 13 near Urdu University. In the jargon of Karachi-based Journalists this phenomenon is termed "winter fire".
Published 17 Dec, 2011 12:00am
Nato admits Afghan local police abuses

Nato admits Afghan local police abuses

A Nato military report acknowledged Friday that members of a US-funded Afghan police force have committed human rights abuses, but insisted the units are making a "tremendous difference" overall. The report followed a highly critical Human Rights Watch (H
Published 17 Dec, 2011 12:00am
ART FACTS: Elements of beauty

ART FACTS: Elements of beauty

Woman is considered as a symbol of beauty world over and every person who is related to any form of Art must have tried his hand on the subject of 'woman'. The paintings exhibition by Babar Azeemi at Clifton Art Gallery, Karachi titled 'Wajood-e-Zan' is a
Published 17 Dec, 2011 12:00am
Nato admits Afghan local police abuses

Nato admits Afghan local police abuses

A Nato military report acknowledged Friday that members of a US-funded Afghan police force have committed human rights abuses, but insisted the units are making a "tremendous difference" overall. The report followed a highly critical Human Rights Watch (H
Published 17 Dec, 2011 12:00am
Two chances are better than one

Two chances are better than one

There comes a time in the play of the hand wherein the whole contract hinges on a certain lie of the cards. This is the point often called the critical point and many a contract in bridge are won or lost on how the declarer handles the critical point of p
Published 17 Dec, 2011 12:00am
Nato attack report by December 23: Munter

Nato attack report by December 23: Munter

US Ambassador Cameron Munter on Friday said that the year 2011 was crucial with regards to relations between US and Pakistan, but hopefully the issues between the two countries would be settled amicably by 2012. Cameron Munter was talking to media after a
Published 17 Dec, 2011 12:00am
Nato attack report by December 23: Munter

Nato attack report by December 23: Munter

US Ambassador Cameron Munter on Friday said that the year 2011 was crucial with regards to relations between US and Pakistan, but hopefully the issues between the two countries would be settled amicably by 2012. Cameron Munter was talking to media after a
Published 17 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 17 Dec, 2011 12:00am
21 militants, one soldier killed

21 militants, one soldier killed

At least 21 militants and one soldier were killed Friday in fierce clashes between Taliban and forces in the troubled north-western region of the country, a security official said. The fighting occurred in the Ghilju region of Orakzai, one of seven tribal
Published 17 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 17 Dec, 2011 12:00am
21 militants, one soldier killed

21 militants, one soldier killed

At least 21 militants and one soldier were killed Friday in fierce clashes between Taliban and forces in the troubled north-western region of the country, a security official said. The fighting occurred in the Ghilju region of Orakzai, one of seven tribal
Published 17 Dec, 2011 12:00am
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