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Archive - 2011-12-24
$11.12bn budget for new flood plan: Govt
Top News

$11.12bn budget for new flood plan: Govt

BANGKOK: Thailand's government will seek cabinet approval next week for a 350 billion baht ($11.12 billion) budget for i
Published 24 Dec, 2011 03:48pm
Iran extends oil deal with Turkey
Top News

Iran extends oil deal with Turkey

TEHRAN: Iran said on Saturday it has extended its crude export contract with Turkey for 2012, state-run English Language
Published 24 Dec, 2011 03:38pm
Pakistan a true welfare state
Pakistan

Pakistan a true welfare state

LAHORE: Punjab Governor Sardar Latif Ahmed Khosa has said that the best way to pay homage and tribute to the Father of t
Published 24 Dec, 2011 01:27pm
Rs 2bn distributed in AJK
Top News

Rs 2bn distributed in AJK

MUZAFFARABAD: 0ver Rs. 2billion has been distributed among the beneficiary families of Benazir Income Support Programme
Published 24 Dec, 2011 12:43pm
Makhdoom Javed Hashmi joins PTI
Top News

Makhdoom Javed Hashmi joins PTI

KARACHI : Makhdoom Javed Hashmi joined Pakistan Tehrik-i-Insaaf (PTI) on Saturday. Hashmi announced his decision to jo
Published 24 Dec, 2011 10:05am
Protesters pile pressure on Putin
Top News

Protesters pile pressure on Putin

MOSCOW: Tens of thousands of flag-waving and chanting protesters called on Saturday for a disputed parliamentary electio
Published 24 Dec, 2011 10:01am
PSO receivables surge to Rs185.52bn
Top News

PSO receivables surge to Rs185.52bn

RECORDER REPORT ISLAMABAD : The total of receivables and payables of Pakistan State Oil (PSO) has swelled to over Rs
Published 24 Dec, 2011 07:19am
Iran condemns Syria blasts
Asia

Iran condemns Syria blasts

TEHRAN: Syria's principal ally, Iran, on Saturday said it "strongly condemned" attacks by suicide bombers in Damascus on
Published 24 Dec, 2011 05:58am
Rs5/litre raise in POL prices likely
Top News

Rs5/litre raise in POL prices likely

ABDUL RASHEED AZAD ISLAMABAD : The government, in line with the international price of petroleum products (POL), is l
Published 24 Dec, 2011 05:57am
27 percent decline in FDI
Top News

27 percent decline in FDI

RIZWAN BHATTI KARACHI: Foreign direct investment (FDI) fell by 27 percent during five months (July-November) of curre
Published 24 Dec, 2011 05:40am
Distribution of yellow cabs continues in Punjab

Distribution of yellow cabs continues in Punjab

As many as 578 more yellow cabs have been distributed among jobless persons under Punjab Chief Minister's Youth Employment Scheme, which still continues across Punjab. Under the scheme, 146 cabs in Lahore, 275 in Rawalpindi and 157 in Multan have been dis
Published 24 Dec, 2011 12:00am
CMHS organises prize distribution ceremony

CMHS organises prize distribution ceremony

Crescent Model Higher School (CMHS), Shadman Colony Lahore organised a prize distribution ceremony here on Friday. Punjab University Vice-Chancellor Professor Dr Mujahid Kamran presided over the ceremony, while Chief Editor Daily Nation Majid Nizami, Chai
Published 24 Dec, 2011 12:00am
Dow University to establish Research Centre

Dow University to establish Research Centre

Dow University of Health Sciences would soon establish a Research Centre in National Institute of Diabetes and Endocrinology at Ojha Campus for the carrying out research and epidemiological data of communicable and non-communicable diseases prevalent in t
Published 24 Dec, 2011 12:00am
PIP hosts strategic workshop to address energy challenges

PIP hosts strategic workshop to address energy challenges

The Petroleum Institute of Pakistan (PIP) has organised a Strategic Workshop here on December 22, 2011. The event was presided over by Chairman PIP and Managing Director (MD) and Chief Executive Officer (CEO), Pakistan Petroleum Limited Asim Murtaza Khan,
Published 24 Dec, 2011 12:00am
Cellular company's office attacked; two killed

Cellular company's office attacked; two killed

At least two employees of a mobile company lost their lives when unidentified armed men barged into its franchise office and fired indiscriminate gunshots at the staff. Police said the incident occurred at the franchise office, located on the ground floor
Published 24 Dec, 2011 12:00am
Sindh police arrest nine suspects

Sindh police arrest nine suspects

Sindh police on Friday claimed to have arrested nine suspects including three target killers in separate raids at various parts of the metropolis. According to police sources, Khawaja Ajmair Nagri police had arrested two suspects namely Saeed Bazmi and Sa
Published 24 Dec, 2011 12:00am
Rally held to mark Working Women Day

Rally held to mark Working Women Day

In order to celebrate the National Day of Working Women, the Inter Global Human Development Society (IGHDS) on Friday organised a rally from Mirpur Mathelo Chowk to DCO office Ghotyki to highlight the struggle of Pakistani working women.
Published 24 Dec, 2011 12:00am
PCP moot reviews rules, policies of the council

PCP moot reviews rules, policies of the council

Chairman Press Council of Pakistan and former judge of Lahore High Court Raja M. Shafqat Abbasi, chaired a meeting here on Friday to review the rules and policies of the council for their proper implementation.
Published 24 Dec, 2011 12:00am
PSO receivables surge to Rs 185.52 billion

PSO receivables surge to Rs 185.52 billion

The total of receivables and payables of Pakistan State Oil (PSO) has swelled to over Rs 358.45 billions, out of which Rs 185.52 billion are receivables and Rs 172.93 billion payables. According to official documents, PSO receivables from power sector inc
Published 24 Dec, 2011 12:00am
Poor students to get Rs 200 honoraria under BISP: CS

Poor students to get Rs 200 honoraria under BISP: CS

Chief Secretary Balochistan Ahmed Bakhsh Lehri on Friday said that students in rural areas of Balochistan will be provided Rs 200 each honoraria monthly under Benazir Income Support Programme. The step is aimed at promoting education in remote areas of th
Published 24 Dec, 2011 12:00am
Rawalpindi Bar Association elections on January 14

Rawalpindi Bar Association elections on January 14

The elections of the District Bar Association, Rawalpindi are scheduled to be held on January 14, for the term 2012-13. While announcing the election schedule, the Election Committee Chairman, Zaheer Qadri said the nomination papers would be received on D
Published 24 Dec, 2011 12:00am
Airport road closed in gas shortage protest

Airport road closed in gas shortage protest

Hundreds enraged at debilitating gas shortages set two armoured police vehicles alight and blocked the highway to Islamabad airport on Friday, witnesses said. The crowd, who also pelted police with stones, gathered at the main highway connecting the inter
Published 24 Dec, 2011 12:00am
PTI rally in Karachi: gates of Quaid's mausoleum locked, opened

PTI rally in Karachi: gates of Quaid's mausoleum locked, opened

The gates of Quaid's mausoleum were re-opened, as earlier the gates were closed and workers of Pakistan Tehreek-e-Insaaf (PTI) were expelled from the premises on Friday morning. After the management expelled the workers from the ground, the PTI activists
Published 24 Dec, 2011 12:00am
Rural areas: government urged to end power loadshedding

Rural areas: government urged to end power loadshedding

Growers from Southern Punjab have urged the federal government to end prolonged load-shedding in rural areas as it is affecting wheat sowing, which is at its peak nowadays. This demand was raised by the presidents and secretaries of Kisan Board Pakistan d
Published 24 Dec, 2011 12:00am
PML-N vows to protect right of freedom of expression

PML-N vows to protect right of freedom of expression

Leader of Pakistan Muslim League-N and spokesman of Punjab government Senator Pervaiz Rashid has strongly condemned the threats given to a TV anchor. In a statement, he said that after long dictatorship of General Musharraf, the country was put on the roa
Published 24 Dec, 2011 12:00am
Pros and cons of taxing agriculture income in Punjab discussed

Pros and cons of taxing agriculture income in Punjab discussed

In a PILDAT briefing session on taxing the agricultural Income, Punjab Assembly members were briefed by experts on various pros and cons of taxing the agricultural income here on Friday. Farmers are aware of their responsibilities and want to pay their ta
Published 24 Dec, 2011 12:00am
Five export-oriented sectors: TRCG clears draft of revamped scheme SRO

Five export-oriented sectors: TRCG clears draft of revamped scheme SRO

Tax Reform Co-ordination Group (TRCG) of the Federal Board of Revenue (FBR) has cleared the draft of the statutory regulatory order (SRO) of the revamped scheme for five export oriented sectors, including textiles, leather garments, carpets, sports and su
Published 24 Dec, 2011 12:00am
National Assembly body approves carriage of goods: PSAA

National Assembly body approves carriage of goods: PSAA

Pakistan Ship's Agents Association is delighted to inform you that after hectic continuous efforts, and advocacy and lobbying for the past six years finally, on December 9th (after two days of hearings) National Assembly's Standing Committee on Ports and
Published 24 Dec, 2011 12:00am
Noor Jehan's death anniversary observed

Noor Jehan's death anniversary observed

The great legendary playback singer Malika-e-Tarannum Noor Jehan death anniversary was observed on Friday. Noor Jehan was the greatest film and music personality in the history of showbiz in Pakistan. She was born on September 21, 1926 at Qasoor, Punjab.
Published 24 Dec, 2011 12:00am
The cotton sector

The cotton sector

The Cotton Crop Assessment Committee (CCAC) has revised cotton estimates for the current year upward - from the original 12.22 million bales to 12.598 million bales. Those who may understandably consider this as a positive development need to temper their
Published 24 Dec, 2011 12:00am
'Something is rotten in the State of Denmark'

'Something is rotten in the State of Denmark'

"Something is rotten in the State of Denmark [read Pakistan]." Marcellus, who is one of the guards on duty, says this when the ghost of young Hamlet's father, King Hamlet, appears. He means that there are strange and evil events occurring. The simmering p
Published 24 Dec, 2011 12:00am
Required a minister for moral rearmament

Required a minister for moral rearmament

The civilian governments are on the run and the basis seems to be a lack of morality. When a body has an attack, the physician diagnoses and prescribes. The moral imperative is rather different. For one, it does not have a body that can be examined and di
Published 24 Dec, 2011 12:00am
Expanding oil refining infrastructure

Expanding oil refining infrastructure

Demand for the POL (petroleum, oil, lubricants) products in Pakistan is growing stronger on a year-on-year basis. It is projected that the annual demand of POL products would increase to 19 million tons by the year 2017-18 and over 34 million tons by 2025
Published 24 Dec, 2011 12:00am
Kim Jong II's cinematic legacy returns to the spotlight

Kim Jong II's cinematic legacy returns to the spotlight

Jong II's keen interest in cinema is being revisited following his death, as a Vienna cinema offered a special screening of a monster film that the dictator produced, and a British producer plans to tell the adventurous story of how it was made. On Thursd
Published 24 Dec, 2011 12:00am
The fear factor

The fear factor

Faith and fear are the most stupendous forces in this world and faith is greater than fear. Franklin Delano Roosevelt, the four times-elect President of the United States stirred the nation with these words "The only thing we have to fear is the fear itse
Published 24 Dec, 2011 12:00am
Kunnar Pasakhi pipeline project to be completed by year-end

Kunnar Pasakhi pipeline project to be completed by year-end

Work on Kunnar Pasakhi gas pipeline is progressing around the clock and the project will be completed by the end of December 2011. Built at a total cost of Rs 1,491 million, the 24" dia, 35-km long Kunnar Pasakhi Pipeline will transmit 100 mmcfd gas to th
Published 24 Dec, 2011 12:00am
Sindh University holidays

Sindh University holidays

Registrar University of Sindh notified on Friday that the university and all its campuses will remain closed on account of Quaid-e-Azam's Birthday, December 25 and martyrdom anniversary of Shaheed Mohtarma Benzir Bhutto on December 27.
Published 24 Dec, 2011 12:00am
KCCI's rejoinder to KESC's legal notice

KCCI's rejoinder to KESC's legal notice

The Karachi Chamber of Commerce and Industry (KCCI) has responded the legal notice served on it by Karachi Electric Supply Company (KESC), denying the allegations levelled by the power utility. In the rejoinder, the chamber said that on behalf of entire b
Published 24 Dec, 2011 12:00am
PIA offers complete life insurance cover to passengers

PIA offers complete life insurance cover to passengers

Managing Director PIA, Nadeem Khan Yousufzai presented an insurance settlement Cheque of Rs 10 million to the legal heirs of (Late) Siraj Ahmed (PIA Passenger) who had purchased the insurance cover paying 40 Saudi Arabian Riyals, while purchasing his tick
Published 24 Dec, 2011 12:00am
Advisory to farmers

Advisory to farmers

The met office on Friday advised the farmers to irrigate the wheat crop as per need. "Normally wheat crop is irrigated after 20-25 days of sowing in the agricultural plains of Pakistan," the advisory said. "Due to persistent dry weather, farmers of the ir
Published 24 Dec, 2011 12:00am
Bandit killed in encounter

Bandit killed in encounter

Sindh police on Friday claimed to have killed an alleged bandit while two other managed to escape during brief encounter in the limits of Malir Cant police station. According to police and rescuers, the police party intercepted three bandits at Link Road
Published 24 Dec, 2011 12:00am
Electrification of more villages under way

Electrification of more villages under way

Sindh Power Department has electrified over 800 villages of the province since 2010 while electrification of more villages is well underway, Business Recorder learnt on Friday. Sindh Chief Minister Syed Qaim Ali Shah approved Rs 1000 million for el
Published 24 Dec, 2011 12:00am
Cold weather grips country

Cold weather grips country

Severe cold weather has gripped the country as temperature in many parts continues to ebb to freezing level. According to Met Office, temperature reduced to -12 degree centigrade in Kalat and Kalam on Friday while temperature in Skardu was -11 degree cent
Published 24 Dec, 2011 12:00am
Index down 10 percent on foreigners' selling

Index down 10 percent on foreigners' selling

The offshore investors were yet again at the forefront in determining stock market direction and the KSE-100 index was down 10 percent in the second half of 2011 in the backdrop of net foreign selling worth $157 million during this period. The market had
Published 24 Dec, 2011 12:00am
'Prison police to be given latest training, weapons'

'Prison police to be given latest training, weapons'

Sindh government has decided to provide training and weapons based on latest technology to prisons police, Business Recorder learnt on Friday. This decision was taken during a high level meeting held under the chairmanship of Minister for Prisons a
Published 24 Dec, 2011 12:00am
US CG visits Islamic center in California

US CG visits Islamic center in California

US Consul General in Karachi, William Martin toured the construction site of a $5.3 million complex that will be the new home of the Islamic Center of San Gabriel Valley - Masjid Quaba, along with leaders of the Pakistani-American Muslim community.
Published 24 Dec, 2011 12:00am
Fourth Convocation of DIHE: degrees conferred on 473 students

Fourth Convocation of DIHE: degrees conferred on 473 students

As many as 473 students were awarded degrees besides four gold medals in various disciplines at 4th Convocation of Dadabhoy Institute of Higher Education (DIHE) held at Karachi Golf Club recently. The break off in Faculty of Business Administration consis
Published 24 Dec, 2011 12:00am
Government to foil move against democratic set-up

Government to foil move against democratic set-up

Khyber Pakhtunkhwa Minister for Information, Mian Iftikhar Hussain on Friday said the government will foil any unconstitutional move against democratic set-up in the country. The government would not let the conspirators succeed in their nefarious designs
Published 24 Dec, 2011 12:00am
Sindh University elections

Sindh University elections

University of Sindh has announced that elections for membership on reserved seats for principals and teachers from affiliated colleges on the university senate and Academic Council will be held on January 27. According to the notification issued by the Un
Published 24 Dec, 2011 12:00am
DANIDA completes first training programme for journalists

DANIDA completes first training programme for journalists

Danish International Development Agency (DANIDA) as part of its support to Pakistani civil society, has completed its first training programme for Pakistani journalists, where almost 20 journalists have been trained on how to collect data and report on di
Published 24 Dec, 2011 12:00am
World Bank expresses concern over non-implementation of key reforms

World Bank expresses concern over non-implementation of key reforms

The World Bank (WB) review mission has expressed concern over non-implementation of some of key reforms, including payment of sales tax refund only through the Expeditious Refund System (ERS), eliminating all kinds of manual refund procedures.
Published 24 Dec, 2011 12:00am
Saudi Ambassador calls on Hina

Saudi Ambassador calls on Hina

The Ambassador of Saudi Arabia, Abdul Aziz bin Ibrahim bin Salih Al-Ghadeer, called on Foreign Minister Hina Rabbani Khar here on Friday. The Foreign Minister lauded the efforts being made by the Ambassador in further strengthening the existing fraternal
Published 24 Dec, 2011 12:00am
FBR notification

FBR notification

Federal Board of Revenue has said that all Model Customs Collectorates shall remain open on Saturday 17th, 24th and 31st December, 2011, as normal working days in order to facilitate trade and industry in getting their cargo cleared for imports and export
Published 24 Dec, 2011 12:00am
Civil society opposes unconstitutional steps against government

Civil society opposes unconstitutional steps against government

Though seemingly perturbed over the government policies and its performance, the civil society organisations have put their weight behind it in case of any unconstitutional step is taken in the prevailing political situation in the county.
Published 24 Dec, 2011 12:00am
Seminar on 'disaster management & early preparedness' held

Seminar on 'disaster management & early preparedness' held

Speakers at consultative seminar on "Disaster Management & Early Preparedness" have called for strengthening all sources of mobility and accessibility for effective delivery services to vulnerable people in disaster zones. They also stressed that the resc
Published 24 Dec, 2011 12:00am
Austrian Ambassador calls on Dr Fehmida

Austrian Ambassador calls on Dr Fehmida

Dr Fehmida Mirza, Speaker National Assembly has urged the need for enhancing interaction between the political hierarchies of Pakistan and Austria to building bridges of understanding and co-operation. She also stressed for activating parliamentary friend
Published 24 Dec, 2011 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold prices slipped on Friday, tracking the euro's declines as upbeat US economic data boosted the dollar, though volumes were exceptionally light even for a market in holiday mode. Spot gold eased to $1,604.90 an ounce by 2:44 pm EST (1944 GMT) from $1,6
Published 24 Dec, 2011 12:00am
US MIDDAY: grains ease

US MIDDAY: grains ease

Grains eased on Friday, on course to end streaks of gains that have lasted more than a week, but concerns about below-normal rainfall in Brazil and Argentina kept prices underpinned. Corn, soybeans and wheat have hit multi-week highs this week and look to
Published 24 Dec, 2011 12:00am
Gold rises in Europe

Gold rises in Europe

Gold prices firmed a touch in Europe on Friday, tracking gains in the euro as upbeat US data boosted interest in assets seen as higher risk at the dollar's expense, though volumes were light as financial markets wound down towards year-end.
Published 24 Dec, 2011 12:00am
Gold up in Asia

Gold up in Asia

Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat US economic data encouraged investors, while the persistent gloom hanging over the eurozone weighed on sentiment. Spot gold edged up 0.3 percent to $1,610.80 an ounc
Published 24 Dec, 2011 12:00am
US gold slips

US gold slips

Gold finished slightly lower Thursday, falling with the euro, as investors feared European leaders were not much closer to solving the eurozone debt crisis. Spot gold fell to $1,604.30 an ounce by 1505 EST (2005 GMT), having earlier risen as high as $1,6
Published 24 Dec, 2011 12:00am
Raw sugar up

Raw sugar up

ICE raw sugar futures closed at a two-week high on Friday, on book-squaring before the end of the year in light dealings ahead of the Christmas holiday, while arabica coffee dipped on long liquidation. Cocoa futures inched lower as ample African supplies
Published 24 Dec, 2011 12:00am
Grains climb to fresh highs

Grains climb to fresh highs

Grains extended their pre-holiday runs higher Thursday, as investors covered short positions and anticipated a resumption of stressful crop weather in South America next week. Soybeans extended their streak of gains to six days - the longest such string i
Published 24 Dec, 2011 12:00am
Palm oil soars

Palm oil soars

Malaysian crude palm oil futures climbed to a near three-week high on Friday on shortcovering ahead of the weekend that was driven by upbeat US data and prospects of lower output triggered by heavy rain fall in parts of Malaysia. New claims for unemployme
Published 24 Dec, 2011 12:00am
Nigeria palm refinery starts work

Nigeria palm refinery starts work

Consumer product maker PZ Cussons expects a $56 million palm oil refinery in partnership with Singapore's Wilmar International to be operational by the third quarter of next year, the chief executive of Cussons' Nigerian unit said on Friday. Christos Gian
Published 24 Dec, 2011 12:00am
Oil prices rise

Oil prices rise

Oil edged up Friday in low-volume trading, on pace to post weekly gains and supported by concerns about potential supply disruptions in Iran and Iraq and by signs of a strengthening US economy. Oil also found support from stronger equities on Wall Street,
Published 24 Dec, 2011 12:00am
Copper up in thin trade

Copper up in thin trade

Copper rose in thin trade on Friday after a recent run of encouraging data from the United States provided an optimistic outlook for growth and for metals demand in the world's largest economy. Limiting gains, however, were ongoing concerns about Europe'
Published 24 Dec, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

Copper inched up on Friday as it headed for its first weekly gain in three after signs of a recovery in the US economy boosted investor hopes that demand for the industrial metal may pick up. The most-traded March copper contract on the Shanghai Futures E
Published 24 Dec, 2011 12:00am
Barclays beaten on copper play, traders exit

Barclays beaten on copper play, traders exit

It was a summer shoot-out between two of the biggest copper traders in the business - investment bank Barclays Capital betting prices would rise and London hedge fund Red Kite expecting them to fall. Red Kite won, hands down. The head of metals trade at B
Published 24 Dec, 2011 12:00am
10,000 US troops leave Afghanistan as planned

10,000 US troops leave Afghanistan as planned

The US military has withdrawn 10,000 troops from Afghanistan before a year-end deadline set by President Barack Obama, officers said Friday, the first step in a planned drawdown of combat forces through 2014. The withdrawal left about 91,000 American troo
Published 24 Dec, 2011 12:00am
India announces minorities quota ahead of key state polls

India announces minorities quota ahead of key state polls

The Indian government has approved a quota for minority groups in government jobs and state-run educational institutions, officials said Friday. A cabinet meeting chaired by Premier Manmohan Singh Thursday night set aside a 4.5-per-cent share for minoriti
Published 24 Dec, 2011 12:00am
Oil pipeline explosion kills 11 in Colombia

Oil pipeline explosion kills 11 in Colombia

An explosion blamed on fuel thieves killed 11 people and injured 70 others at a gasoline and diesel pipeline run by Colombia's state-owned Ecopetrol , the company said on Friday. The blast also destroyed 30 houses on the outskirts of Dosquebradas village
Published 24 Dec, 2011 12:00am
Iraq crisis simmers as Sunni strongholds protest Maliki

Iraq crisis simmers as Sunni strongholds protest Maliki

Several thousand Iraqis in Sunni Muslim strongholds protested on Friday against Shia Prime Minister Nuri al-Maliki, responding to his moves against two Sunni leaders and taking to the streets a day after fatal bombings hit the capital Baghdad. Maliki this
Published 24 Dec, 2011 12:00am
Thousands sign up for new Russian protest

Thousands sign up for new Russian protest

More than 40,000 Russians have signed up to protest in Moscow on Saturday against a disputed election, dismissing Kremlin promises of political change that could ease Vladimir Putin's grip on power. The rally follows protests by tens of thousands of peopl
Published 24 Dec, 2011 12:00am
Russia test-fires two new nuclear missiles

Russia test-fires two new nuclear missiles

Russia successfully tested on Friday its two new Bulava intercontinental missiles, which experienced several failures in the past. The Defence Ministry said the 12-metre-long Bulava, or Mace, which Moscow aims to make the cornerstone of its nuclear arsena
Published 24 Dec, 2011 12:00am
Three Somali aid workers shot dead

Three Somali aid workers shot dead

A gunman killed three Somali aid workers, including two with the UN World Food Programme (WFP), in Somalia on Friday, development officials said. The attack took place in the central Somali town of Matabaan, in a region under the control of the Ahlu Sunna
Published 24 Dec, 2011 12:00am
Suu Kyi registers party, makes first parliament visit

Suu Kyi registers party, makes first parliament visit

Myanmar's democracy champion Aung San Suu Kyi registered her opposition party and visited the national parliament for the first time on Friday, as she prepares to enter the mainstream political arena. The visit in the capital Naypyidaw included a meeting
Published 24 Dec, 2011 12:00am
Egyptians rally against army

Egyptians rally against army

Thousands of Egyptians rallied in Cairo and other cities on Friday to demand the military give up power and vent their anger after 17 people were killed in protests where troops beat and clubbed women and men even as they lay on the ground. One image in p
Published 24 Dec, 2011 12:00am
Turkey accuses France of genocide in Armenia row

Turkey accuses France of genocide in Armenia row

The war of words between France and Turkey escalated dramatically on Friday, when the Turkish premier accused Paris of committing genocide in Algeria and of stirring hatred of Muslims. Furious that French lawmakers had voted on Thursday to outlaw denial o
Published 24 Dec, 2011 12:00am
Snowfall brings part of Greece to standstill

Snowfall brings part of Greece to standstill

Hundreds of drivers remained trapped on Friday as a cold front of heavy snowfall and gale-force winds swept across several parts of central and northern Greece. Emergency crews rescued more than 1,000 drivers trapped along the Egnatia Highway near the tow
Published 24 Dec, 2011 12:00am
Powerful quakes rock Christchurch

Powerful quakes rock Christchurch

New Zealand's Christchurch was rocked by a fresh series of powerful earthquakes on Friday, sending terrified people fleeing into the streets 10 months after a devastating quake claimed 181 lives. Two shallow quakes of magnitude 5.8 and 5.9 and a series of
Published 24 Dec, 2011 12:00am
Confident Misbah ready for England

Confident Misbah ready for England

Pakistani skipper Misbah-ul Haq said Friday his high-flying team can beat England - world's leading Test side - when they meet next year, believing his side are unstoppable on current form. Pakistan returned home Friday after routing Bangladesh in two Twe
Published 24 Dec, 2011 12:00am
Spurs and Chelsea share London derby spoils

Spurs and Chelsea share London derby spoils

London rivals Tottenham Hotspur and Chelsea slugged out a 1-1 draw in an exciting derby at White Hart Lane on Thursday as the home team held on to third spot in the Premier League. Both sides were left to rue missed chances that could have edged them clos
Published 24 Dec, 2011 12:00am
Jazz celebrates cricket team's success

Jazz celebrates cricket team's success

Mobilink Jazz has extended its congratulations to the Pakistan cricket team on its exceptional performances in 2011. The team overcame on field and off field troubles and succeeded all formats of the game throughout the year, culminating with the clean sw
Published 24 Dec, 2011 12:00am
India seek breakthrough series win in Australia

India seek breakthrough series win in Australia

India are desperate to bury their unwanted tag of being poor travellers as they bid to win their first series in Australia starting on Monday at the Melbourne Cricket Ground. The Indians, ranked second in Test cricket, two places above Australia, have fai
Published 24 Dec, 2011 12:00am
Australia versus India Test factfile

Australia versus India Test factfile

Factfile on the first Test between Australia and India starting at the Melbourne Cricket Ground on Monday: First Test - Melbourne Cricket Ground, December 26-30 India are bidding to win their first-ever series Down Under. India have toured Australia nine
Published 24 Dec, 2011 12:00am
Afghanistan kicks off its first rugby tournament

Afghanistan kicks off its first rugby tournament

Afghanistan kicked off its first official rugby tournament on Friday, with organisers hoping the game will one day be as popular as buzkashi, a kind of polo played with the carcass of a headless goat. Cricket and football have already gained a strong foll
Published 24 Dec, 2011 12:00am
Toure named CAF Footballer of the Year

Toure named CAF Footballer of the Year

Ivory Coast midfielder Yaya Toure was named 2011 CAF Footballer of the Year Thursday just 24 hours after helping Manchester City defeat Stoke City 3-0 and stay top of the English Premier League table. Toure, a physically imposing 28-year-old younger broth
Published 24 Dec, 2011 12:00am
Swedish teenager banned

Swedish teenager banned

Swedish teenager Lucas Renard was banned for six months and fined $5,000 after admitting corruption, the Tennis Integrity Unit announced on Thursday. The 19-year-old, who spends his career on the third-tier Futures circuit, had four months of his sanction
Published 24 Dec, 2011 12:00am
England on top as fixing still haunts cricket

England on top as fixing still haunts cricket

Cricket and controversy, never far apart, were closely linked in a year where England finally achieved their long-held objective of climbing to the top of the world Test rankings. Nothing that happened on the field in 2011 rocked world cricket quite like
Published 24 Dec, 2011 12:00am
South Africa seek ruthless approach

South Africa seek ruthless approach

South Africa have to become more ruthless in their approach as they seek to secure a series-winning victory in the second Test against Sri Lanka, captain Graeme Smith said on Friday. South Africa have not won a home series since beating Bangladesh in 2008
Published 24 Dec, 2011 12:00am
England violence arrests hit record low

England violence arrests hit record low

Arrests for football-related disorder in England and Wales hit a record low last season, official figures showed Friday, raising hopes the "English disease" of hooliganism was now firmly in the past. Despite being credited as the home of "the beautiful ga
Published 24 Dec, 2011 12:00am
Yuan little changed

Yuan little changed

The yuan was little changed on Friday after the People's Bank of China set a stronger midpoint to reflect a drop in the US dollar index. Spot yuan closed at 6.3364 against the dollar, 26 pips stronger than Thursday's close. After hitting the lower bound o
Published 24 Dec, 2011 12:00am
Asian currencies climb

Asian currencies climb

Emerging Asian currencies rose broadly on Friday in thin trading ahead of the year end after encouraging data from the United States sparked buying in risky assets. Reports on Thursday showed jobless claims in the US fell to a 3-1/2 year low last week, wh
Published 24 Dec, 2011 12:00am
Aussie hits record high versus euro

Aussie hits record high versus euro

The Australian dollar hit a fresh record high against the struggling euro on Friday as markets bet Europe's debt woes would last for a long time yet. The New Zealand dollar dipped briefly on news of another earthquake near Christchurch but soon steadied a
Published 24 Dec, 2011 12:00am
Indian rupee lower

Indian rupee lower

The Indian rupee ended weaker on Friday, posting its third straight week of losses, as concerns over slowing growth pushed domestic equities lower and as importers stepped up dollar buys for month-end payments. The rupee ended at 52.9600/9675 to the dolla
Published 24 Dec, 2011 12:00am
Swiss franc ticks up

Swiss franc ticks up

The Swiss franc rose versus the greenback and was treading water against the euro on Friday, with more upbeat investor sentiment globally weighing on the dollar and with few investors taking big positions in the run-up to the Christmas break. Worries the
Published 24 Dec, 2011 12:00am
Euro bearish trend holds in New York

Euro bearish trend holds in New York

The euro ended little changed against the US dollar Thursday, but was on track to close out the year lower, as investors were unconvinced European leaders were anywhere close to a solution to the region's debt crisis. Market players said the looming threa
Published 24 Dec, 2011 12:00am
Early trade in New York: euro little changed

Early trade in New York: euro little changed

The euro was little changed against the dollar on Friday, with further declines likely heading into the new year as the festering eurozone debt crisis spurs investors to shun risk. A rise in new single-family homes to a seven-month high in November report
Published 24 Dec, 2011 12:00am
Euro rises London

Euro rises London

The euro edged up versus the dollar on Friday with risk appetite underpinned by upbeat US data but with the eurozone crisis unresolved, investors were likely to sell the single currency again in 2012. A drop in US weekly claims for jobless benefits to a 3
Published 24 Dec, 2011 12:00am
Euro mostly steady in Asia

Euro mostly steady in Asia

The euro edged up on the US dollar in holiday-thinned Asian trade on Friday, but was still on track to end the year modestly lower as the European debt crisis looks set to last for many more months. The single currency changed hands at $1.3063, from $1.30
Published 24 Dec, 2011 12:00am
Sterling slips against euro

Sterling slips against euro

Sterling slipped against the euro on Friday as increased risk appetite prompted investors to trim bets to sell the single currency, while the pound struggled after a slide in the UK's service sector highlighted the fragility of the British economy. The si
Published 24 Dec, 2011 12:00am
Technically driven FTSE adds seasonal cheer

Technically driven FTSE adds seasonal cheer

Britain's leading share index posted solid gains on Friday's final half-day trading session before Christmas, albeit in very thin volumes, with technical factors the main driving force ahead of the long holiday. At the close, the FTSE 100 index was up 55.
Published 24 Dec, 2011 12:00am
Australian shares climb

Australian shares climb

Australian shares rose 1.2 percent on Friday, driven by gains in resource stocks after a rise in commodities prices and encouraging US economic data, in a shortened session ahead of a four-day holiday weekend. Despite the rally going into the Christmas br
Published 24 Dec, 2011 12:00am
Seoul shares end week on high note

Seoul shares end week on high note

Seoul shares rose on Friday, wrapping up the last full trading week of the year on a high note despite market shock following the news of North Korean Kim Jong-il's death on Monday, encouraged by US data that signalled economic recovery. "US data provided
Published 24 Dec, 2011 12:00am
European shares end higher on US data

European shares end higher on US data

European shares turned in their best weekly performance since early December on Friday on optimism about a global recovery after some positive data from the United States during the week provided evidence the economy was growing. But volume was only a thi
Published 24 Dec, 2011 12:00am
Hong Kong and Chinese shares higher

Hong Kong and Chinese shares higher

Hong Kong stocks ended the last full trading week of the year on a positive note as signs of a strengthening US economy encouraged some investors to buy, although overall volume remained very light. The Hang Seng Index rose 1.3 percent on Friday and 1.9 p
Published 24 Dec, 2011 12:00am
Treasuries prices mixed

Treasuries prices mixed

US Treasuries prices were mixed on Thursday in light, choppy trading, and long bonds were boosted by the Federal Reserve's final buyback of the year. Traders, however, discounted attributing too much meaning to price moves as investors prepared for the sl
Published 24 Dec, 2011 12:00am
Treasuries prices mixed

Treasuries prices mixed

US Treasuries prices were mixed on Thursday in light, choppy trading, and long bonds were boosted by the Federal Reserve's final buyback of the year. Traders, however, discounted attributing too much meaning to price moves as investors prepared for the sl
Published 24 Dec, 2011 12:00am
Taiwan stocks move up

Taiwan stocks move up

Taiwan stocks closed up 2.07 percent on Friday, with construction and financial shares among the top gainers after the government said it would not set a time limit on a state fund's action in supporting the market. The main TAIEX index rose 144.38 points
Published 24 Dec, 2011 12:00am
Rally brings S&P closer to break-even for 2011

Rally brings S&P closer to break-even for 2011

US stocks rose on Thursday, putting the S&P 500 on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labour market. The S&P rose for a third day in seasonally light volume that has contrib
Published 24 Dec, 2011 12:00am
Friday's midday trade: Wall Street extends rally

Friday's midday trade: Wall Street extends rally

Wall Street extended a year-end rally on Friday as the S&P 500 rose for a fourth day and turned positive for the year after a recent run of better-than-expected economic data. The S&P 500 has rallied nearly 5 percent over the last four days and is slightl
Published 24 Dec, 2011 12:00am
Indian shares fall

Indian shares fall

Indian shares ended 0.47 percent lower on Friday, after gaining for two consecutive sessions, on mounting worries over economic growth, with stocks expected to stay under selling pressure next week as well. Telecom carriers Bharti Airtel and Idea Cellular
Published 24 Dec, 2011 12:00am
European bank retreat hits Asia private equity

European bank retreat hits Asia private equity

Asia's private equity firms face a shrinking pool of bank loans as European lenders pull back from the region, crimping both investments and re-financings for buyout-backed companies and adding to the list of challenges the industry will meet in 2012.
Published 24 Dec, 2011 12:00am
Most Southeast Asian markets rise

Most Southeast Asian markets rise

Most Southeast Asian stock markets edged higher on Friday, poised for slight gains on the week amid strength in commodities-related stocks supported by signs of a strengthening US economy. Sharemarkets reached multi-week highs on the week, with Indonesia
Published 24 Dec, 2011 12:00am
US consumer, business spending point to slower growth

US consumer, business spending point to slower growth

US consumer spending was tepid in November and a gauge of business investment plans fell for a second straight month, pointing to some loss of momentum in the economy. But other data on Friday added to signs that a tentative recovery in the housing market
Published 24 Dec, 2011 12:00am
Manmohan strikes back at industry critics

Manmohan strikes back at industry critics

Indian Prime Minister Manmohan Singh has struck back at his corporate critics, saying their negative comments over his government's reform programme have only served to dampen economic confidence. Singh's Congress party-led government has been the target
Published 24 Dec, 2011 12:00am
Citi bounces back to top Indonesia debt deal table

Citi bounces back to top Indonesia debt deal table

Citigroup Inc in Indonesia bounced back from a banking scandal this year to top the underwriting league table for the country's international bond sales, using a dedicated team to secure the bulk of government and state-owned enterprise deals. It was a co
Published 24 Dec, 2011 12:00am
Moody's retains Austria's AAA rating

Moody's retains Austria's AAA rating

Moody's on Friday said Austria would retain its AAA rating due to its "well diversified economy," low unemployment rate and financial strength. A statement said the decision took into account the Alpine nation's "high economic strength, thanks to a skille
Published 24 Dec, 2011 12:00am
China to support first-home buyers

China to support first-home buyers

China plans to give first-time home buyers financial support but will keep a crackdown on property speculation in place, the Minister of Housing and Urban-Rural Development was quoted as saying by Xinhua on Friday. This marks a subtle change in China's tw
Published 24 Dec, 2011 12:00am
Youths rampage in Liberian capital over pay

Youths rampage in Liberian capital over pay

Thousands of youths rampaged through Liberia's capital Monrovia on Friday, smashing cars with stones in protest over late payment for "summer vacation jobs" they said they had done for the government. Security forces fired teargas to disperse the proteste
Published 24 Dec, 2011 12:00am
GE unit to pay $70 million over muni bid-rigging cases

GE unit to pay $70 million over muni bid-rigging cases

General Electric Co acknowledged that three former traders at a finance unit engaged in bid-rigging of municipal bonds and agreed to pay $70 .4 million to resolve probes into the matter. The agreement was with GE Funding Capital Market Services, a discont
Published 24 Dec, 2011 12:00am
Russia cuts rates for first time since 2010

Russia cuts rates for first time since 2010

Russia's central bank cut its main interest rate for the first time since June 2010 on Friday in a bid to shore up its fragile banking sector against European contagion and continued capital flight. The bank said the drop of 25 basis points to 8.0 percent
Published 24 Dec, 2011 12:00am
UK to ban excessive credit card surcharges

UK to ban excessive credit card surcharges

Britain plans to ban companies from making their customers pay excessive credit and debit card surcharges when buying flights and other services, ahead of a similar move by the European Union. Firms will be allowed to add just a small charge to cover thei
Published 24 Dec, 2011 12:00am
US Congress passes payroll tax deal

US Congress passes payroll tax deal

The US Congress approved a two-month payroll tax cut extension Friday, capping an exhausting year of partisan warfare over taxes and spending that will resume in January, with the economy barely scratching out a recovery and elections on the horizon.
Published 24 Dec, 2011 12:00am
Canadian economy runs out of steam in October

Canadian economy runs out of steam in October

Canada's economy stalled in October after four consecutive months of growth, pointing to a fourth-quarter slowdown as increasing global uncertainty mutes expectations for next year. Statistics Canada said on Friday that October gross domestic product was
Published 24 Dec, 2011 12:00am
Equity derivatives to help Citi weather rocky 2012

Equity derivatives to help Citi weather rocky 2012

After the toughest trading year he has ever experienced, Citi's global head of equity trading expects higher-margin derivatives to help the Wall Street stalwart steer a path through a similarly rocky 2012. A slide in cash volumes as international investor
Published 24 Dec, 2011 12:00am
UBS gives up on top-10 investment bank ranking

UBS gives up on top-10 investment bank ranking

UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the Swiss bank's financial head said. "Investment banks will continue to fight it out to top the league table
Published 24 Dec, 2011 12:00am
South Sudan seeks food and farmland investments

South Sudan seeks food and farmland investments

South Sudan hopes to attract investors from Gulf Arab states, Israel, China and fellow African countries to boost production of basic food items, a government official said on Thursday. Created in July after a 2005 peace agreement with Khartoum, Africa's
Published 24 Dec, 2011 12:00am
Rates inert on grain market

Rates inert on grain market

Commodities rates were unchanged on the wholesale grain and seed markets on Friday as most of the buyers were busy in participation for Juma prayers, grain and seed merchants group's press release said.
Published 24 Dec, 2011 12:00am
US Midwest corn bids weak at processors

US Midwest corn bids weak at processors

Corn spot basis bids eased at processors and ethanol plants around the US Midwest early on Wednesday, pressured by recent spike in futures and modest pickup in country sales of the grain, dealers said. Soyabean bids were flat, with few sales of either soy
Published 24 Dec, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 138,577 tonnes of cargo including 118,271 tonnes of import, 20,306 tonnes of export cargo and 4,346 loaded and empty containers (TEUs) during the last 24 hours of business activities ended at 0700 hours on Friday.
Published 24 Dec, 2011 12:00am
EU wheat futures up on short-covering

EU wheat futures up on short-covering

European wheat futures pared earlier gains in afternoon trade on Wednesday after US grains markets dropped, but held in positive territory because of support from short covering and the fall of the euro against the dollar. Paris' most-traded March wheat c
Published 24 Dec, 2011 12:00am
Brazilian soya state on brink of record harvest

Brazilian soya state on brink of record harvest

Producers in Brazil's largest soya producing state, Mato Grosso, are days away from beginning the harvest of record corn and soya crops, while tenacious dry weather elsewhere in Brazil's grain belt threaten to hurt yields. Rainfall patterns this season ar
Published 24 Dec, 2011 12:00am
US wheat futures rally for the fourth straight day

US wheat futures rally for the fourth straight day

Chicago Board of Trade wheat futures rose 1.5 percent to their highest in nearly three weeks as investors that shorted the market earlier this year continued to unwind their bearish positions, traders said. CBOT wheat has risen for four straight days, gai
Published 24 Dec, 2011 12:00am
US corn futures down 3 to 5 cents

US corn futures down 3 to 5 cents

Chicago Board of Trade corn futures were called 3 to 5 cents per bushel lower on Wednesday, pressured by forecasts for rain in key crop producing areas of South America, traders said. Some profit taking was expected after prices rallied to a three-week hi
Published 24 Dec, 2011 12:00am
South Korean Kocopia buys corn

South Korean Kocopia buys corn

The Korea Corn Processing Industry Association (KOCOPIA) has bought 55,000 tonnes of corn for food from Japan's Marubeni via tender for arrival by May 10, 2012, traders said on Wednesday. It bought the US No 2 or better genetically modified (GM) yellow co
Published 24 Dec, 2011 12:00am
Immigration Consultants: The good, the bad and the ugly

Immigration Consultants: The good, the bad and the ugly

A couple of months ago, an immigration consultant was arrested in Halifax (whose clients were primarily from the Middle East and South Asia) and, as a result, 1100 cases filed by this consultant are under investigation for obtaining citizenship and mainta
Published 24 Dec, 2011 12:00am
KARACHI CHRONICLE: Demonising madressahs

KARACHI CHRONICLE: Demonising madressahs

The expose on the inhuman treatment of students of a madressah on Super Highway, in the remit of Gulshan-i-Maymar police station, where 50 children and 14 adults were found shackled was shocking.
Published 24 Dec, 2011 12:00am
ART FACTS: Shades of nature

ART FACTS: Shades of nature

While I was visiting a gallery in Lahore about three years ago a landscape caught my eye, on close observation I find several artists' reflections in that landscape. I inquired and found that Muhammad Arshad is the artist who has painted such a beautiful
Published 24 Dec, 2011 12:00am
Winter feet care

Winter feet care

Winter brings with it notable changes to our skin conditions, it begins drying becomes, rough and dehydrated. Its natural oil depleted making it dull and tedious. Among many skin related problems during winter, most painful is rough cracked and blemished
Published 24 Dec, 2011 12:00am
BRIDGE NOTES: Table presence

BRIDGE NOTES: Table presence

Bridge is a game where you need the presence of mind throughout. This awareness of what the declarer or defenders are up to is known in bridge parlance as table presence. And in bridge this is a key factor in bringing success at the bridge table.
Published 24 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 24 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 24 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 Friday (December 23, 2011).

Published 24 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 Friday (December 23, 2011).

Published 24 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 Friday (December 23, 2011).

Published 24 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 Friday (December 23, 2011).

Published 24 Dec, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (December 23, 2011).
Published 24 Dec, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (December 23, 2011).

Published 24 Dec, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (December 23, 2011).

Published 24 Dec, 2011 12:00am
US CentCom briefing cancelled

US CentCom briefing cancelled

A briefing by the head of the US Central Command to Pakistani officials on a November 26 cross-border Nato air attack that killed 24 Pakistani soldiers and severely strained ties with Washington has been cancelled, a Pakistani official said on Friday.
Published 24 Dec, 2011 12:00am
US CentCom briefing cancelled

US CentCom briefing cancelled

A briefing by the head of the US Central Command to Pakistani officials on a November 26 cross-border Nato air attack that killed 24 Pakistani soldiers and severely strained ties with Washington has been cancelled, a Pakistani official said on Friday.
Published 24 Dec, 2011 12:00am
World Bank plans up to $5.5 billion lending

World Bank plans up to $5.5 billion lending

The World Bank said on Thursday it will lend up to $5.5 billion to Pakistan over three years under a new lending strategy focused on boosting the economy and helping poorer, less-integrated regions, including tribal areas near the Afghan border. The World
Published 24 Dec, 2011 12:00am
World Bank plans up to $5.5 billion lending

World Bank plans up to $5.5 billion lending

The World Bank said on Thursday it will lend up to $5.5 billion to Pakistan over three years under a new lending strategy focused on boosting the economy and helping poorer, less-integrated regions, including tribal areas near the Afghan border. The World
Published 24 Dec, 2011 12:00am
World Bank plans up to $5.5 billion lending

World Bank plans up to $5.5 billion lending

The World Bank said on Thursday it will lend up to $5.5 billion to Pakistan over three years under a new lending strategy focused on boosting the economy and helping poorer, less-integrated regions, including tribal areas near the Afghan border. The World
Published 24 Dec, 2011 12:00am
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