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Archive - 2011-12-26
Bargain-hunters boost British economy
Top News

Bargain-hunters boost British economy

LONDON: Britons defied transport strikes and a gloomy economic outlook on Monday to register "record-breaking" levels of
Published 26 Dec, 2011 08:21pm
Rosneft privatisation in 2012 uncertain
Top News

Rosneft privatisation in 2012 uncertain

MOSCOW: Russian plans to privatise a stake in its top crude producer, Rosneft, is not certain to go forward in 2012, in
Published 26 Dec, 2011 05:42pm
Japan, Myanmar to start investment pact
Top News

Japan, Myanmar to start investment pact

TOKYO: Japan foreign minister agreed with Myanmar on Monday to start talks on a bilateral investment pact, while calling
Published 26 Dec, 2011 05:32pm
Banks urged to improve their service
Top News

Banks urged to improve their service

KARACHI: Deputy Governor, State Bank of Pakistan (SBP) Muhammad Kamran Shehzad has stressed upon banks to focus on impro
Published 26 Dec, 2011 02:50pm
WASA running Rs35.37m deficit
Top News

WASA running Rs35.37m deficit

HYDERABAD: Water and Sanitation Agency (WASA) has declared a half-yearly deficit of Rs35.37 million in its first ever re
Published 26 Dec, 2011 02:34pm
ISE-10 stays bearish
Markets

ISE-10 stays bearish

ISLAMABAD: Islamabad Stock Exchange (ISE-10) on Monday witnessed bearish trend as the index shed 7 points to close at 25
Published 26 Dec, 2011 02:15pm
IRSA releases 42,464 cusecs
Top News

IRSA releases 42,464 cusecs

ISLAMABAD: The Indus River System Authority (IRSA) on Monday released 42,464 cusecs water from various rim stations with
Published 26 Dec, 2011 02:00pm
23 die after fire by Syrian tanks
Top News

23 die after fire by Syrian tanks

BEIRUT: At least 23 people were killed as Syrian tank forces battled opponents of President Bashar al-Assad in Homs on M
Published 26 Dec, 2011 10:13am
Smeda launches UNDP funded LEP project
Top News

Smeda launches UNDP funded LEP project

PESHAWAR : Small and Medium Enterprises Development Authority (Smeda) on Monday launched United Nations Development Prog
Published 26 Dec, 2011 10:12am
China supports Pakistan sovereignty
Top News

China supports Pakistan sovereignty

ISLAMABAD: China has reiterated its firm support to Pakistan's endeavours in upholding its independence, sovereignty and
Published 26 Dec, 2011 10:10am
Index gains 273 points
Markets

Index gains 273 points

RECORDER REVIEW KARACHI : The KSE-100 index gained 272.95 points, or 2.5 percent, during the week ended on December
Published 26 Dec, 2011 06:39am
Kazmi appointed NIB Bank president
Top News

Kazmi appointed NIB Bank president

RECORDER REPORT KARACHI: Badar Kazmi has been appointed President of NIB Bank in Pakistan by Tamasek Holdings of Sing
Published 26 Dec, 2011 06:18am
FBR to give tax relief to PIA
Top News

FBR to give tax relief to PIA

SOHAIL SARFRAZ ISLAMABAD: The Federal Board of Revenue (FBR) has decided to give a major tax concession, under Income
Published 26 Dec, 2011 04:12am
Centre, Punjab owe Mepco over Rs16bn
Top News

Centre, Punjab owe Mepco over Rs16bn

ZAHEER ABBASI ISLAMABAD : Federal and Punjab governments are the two major defaulters of Multan Electric Power Comp
Published 26 Dec, 2011 04:00am
Gas pipeline blown up in Swabi
Top News

Gas pipeline blown up in Swabi

PESHAWAR: Unknown miscreants Monday blown up a gas supply line with explosives at Shah Mansoor area of Swabi district, l
Published 26 Dec, 2011 03:45am
Karachi: city of fright?
BR Research

Karachi: city of fright?

Based on factors like crime levels, law-and-order situation, internal stability and the countrys international relations, the research consu
Published 26 Dec, 2011 12:00am
Crude oil: on the swings
BR Research

Crude oil: on the swings

The calendar year started with bullish sentiments for crude. All components of the OPEC basket registered price increases, particularly thos
Published 26 Dec, 2011 12:00am
SSP involved in murder of Shahbaz Bhatti: Malik

SSP involved in murder of Shahbaz Bhatti: Malik

Federal Minister for Interior Rehman Malik has revealed that Sipa-e-Sahaba (SSP) is involved in the murder of Shahbaz Bhatti, former Minister for Minority Affairs. Speaking here on Sunday at a function organised in connection with celebration of Christmas
Published 26 Dec, 2011 12:00am
SSP involved in murder of Shahbaz Bhatti: Malik

SSP involved in murder of Shahbaz Bhatti: Malik

Federal Minister for Interior Rehman Malik has revealed that Sipa-e-Sahaba (SSP) is involved in the murder of Shahbaz Bhatti, former Minister for Minority Affairs. Speaking here on Sunday at a function organised in connection with celebration of Christmas
Published 26 Dec, 2011 12:00am
First Safar on December 27

First Safar on December 27

The Safar moon has not been sighted on Sunday and the first of Safar will fall on December 27. This was announced by the Chairman of Central Ruet-i-Hilal Committee, Mufti Munib-ur-Rehman, on Sunday. A statement issued here pointed out that no evidence was
Published 26 Dec, 2011 12:00am
First Safar on December 27

First Safar on December 27

The Safar moon has not been sighted on Sunday and the first of Safar will fall on December 27. This was announced by the Chairman of Central Ruet-i-Hilal Committee, Mufti Munib-ur-Rehman, on Sunday. A statement issued here pointed out that no evidence was
Published 26 Dec, 2011 12:00am
Bilawal Bhutto felicitates Christians

Bilawal Bhutto felicitates Christians

Chairman Pakistan People's Party Bilawal Bhutto Zardari has felicitated the Christians in Pakistan on the eve of Christmas and said it was time for festivity, celebration and rejoicing. Bilawal Bhutto Zardari in his message on the occasion of Christmas al
Published 26 Dec, 2011 12:00am
Christmas celebrated in Peshawar

Christmas celebrated in Peshawar

Like elsewhere, the Christian community here on Sunday celebrated Christmas with a renew pledge to work for strengthening and prosperity of Pakistan and promotion of interfaith harmony and peace in the society.
Published 26 Dec, 2011 12:00am
Canals' closure, fuel shortage cause power loadshedding

Canals' closure, fuel shortage cause power loadshedding

The acute power crisis has compelled the Pakistan Electric Power Company (Pepco) to resort to eight to 12 hours loadshedding in urban and rural areas. A senior Pepco official told APP on Sunday that annual canals closure for desilting, shortage of gas and
Published 26 Dec, 2011 12:00am
Man kills niece, boy

Man kills niece, boy

One Waqar Jatoi of village Dost Muhammad Jatoi falling in the limits of Khoski police station of district Badin, shot dead his niece Mayfal Jatoi and a 19-year boy Ali Gul Buledi suspecting illicit relations between them on Saturday evening.
Published 26 Dec, 2011 12:00am
SHC to resume normal work on January 10

SHC to resume normal work on January 10

All the benches of Sindh High Court (SHC) will resumed normal work on January 10, after winter vacations, starting from December 26 (today). The circuit benches of SHC in Hyderabad, Sukkur and Larkana will also observe the same schedule of the vacations.
Published 26 Dec, 2011 12:00am
Local bus service to be started soon in Rawalpindi

Local bus service to be started soon in Rawalpindi

District Co-ordination Officer (DCO) Saqib Zafar has said that soon local bus service would be started in Rawalpindi as VARAN urban transport company and one other transport companies have shown interest in re-launching urban transport service in the city
Published 26 Dec, 2011 12:00am
Encroachments pile up in twin cities

Encroachments pile up in twin cities

The vendors have continued to carry out their small business activities on footpaths in the twin cities of Islamabad and Rawalpindi causing a number of hardships for the pedestrians and motorists to move.
Published 26 Dec, 2011 12:00am
17 militants killed in Kurram

17 militants killed in Kurram

The security forces on Sunday pounded militants hideouts near Afghan border in Kurram and tribal agencies killing 17 militants, official sources said, adding that 15 militants were killed in the Sadda operation in Kurram agency. Official sources said that
Published 26 Dec, 2011 12:00am
Gas heater users warned of life risks

Gas heater users warned of life risks

Health experts have warned the people to switch off gas room heaters before going to bed to avoid any untoward incident. Talking to APP here Sunday about recent gas related incidents in some areas, Medical Superintendent General Hospital Dr Muhammad Hassa
Published 26 Dec, 2011 12:00am
Punjab Institute of Neuro Sciences to be set up at LGH

Punjab Institute of Neuro Sciences to be set up at LGH

Pakistan Medical and Dental Council (PMDC) has given the approval of PGMI under Graduate Medical College while Punjab Health Department has also referred PC-I of Punjab Institute of Neuro Sciences to be established at Lahore General Hospital along with re
Published 26 Dec, 2011 12:00am
Education must be our priority: Dr Farhan

Education must be our priority: Dr Farhan

Principal, Government MAO College, Professor Dr Farhan Ebadat Yar Khan has said that the dream of prosperous Pakistan can only be fulfilled by following the norms of Unity, Faith and Discipline, as ordained by Quaid-e-Azam Muhammad Ali Jinnah. We are suff
Published 26 Dec, 2011 12:00am
Prisoner dies in Jail hospital

Prisoner dies in Jail hospital

A prisoner of murder case died due to protracted illness in the hospital of Central Jail here on Sunday. According to a spokesman of the Prisons department, Muhammad Rafiq of Chak No 72 South Sargodha was arrested by the Khushab police in a murder case.
Published 26 Dec, 2011 12:00am
Police recover body of a boy

Police recover body of a boy

Police recovered body of a 12-year-old boy near Sindh-Blaochistan border on Sunday. According to police, acting on a tip off, police took body into custody. The deceased was sent to the district headquarters hospital where the victim was identified as Sha
Published 26 Dec, 2011 12:00am
Quaid's 135th birthday commemorated with reverence

Quaid's 135th birthday commemorated with reverence

Pakistan Muslim and other organisations, NGOs, and local educational institutions on Sunday commemorated the 135th birth anniversary of founder of Pakistan Quaid-e-Azam Muhammad Ali Jinnah today (Sunday) with reverence and solemnity in Multan and other pa
Published 26 Dec, 2011 12:00am
Bus Rapid Transit System: Punjab chief minister lays foundation stone

Bus Rapid Transit System: Punjab chief minister lays foundation stone

Punjab Chief Minister Shahbaz Sharif laid the foundation stone of first Bus Rapid Transit System (BRT) of country's history at Ferozepur Road, here Sunday. In the first phase, 27-kilometre long track will be laid from Gajjumata to Shahadara and this proje
Published 26 Dec, 2011 12:00am
Police directed to take steps for curbing street crimes

Police directed to take steps for curbing street crimes

The Sindh Home Minister, Manzoor Hussain Wassan, has directed the police that steps to be taken under a comprehensive strategy for curbing street crimes, dacoities, looting in buses and other crimes. A police statement here on Sunday said that he also ins
Published 26 Dec, 2011 12:00am
4th death anniversary of Benazir: arrangements reviewed

4th death anniversary of Benazir: arrangements reviewed

Sindh Minister for Law and Prisons Muhammad Ayaz Soomro along-with Commissioner Larkana Division Syed Asif Hyder Shah and Deputy Commissioner Larkana Abdul Aleem Lashari visited on Sunday Garhi Khuda Bux Bhutto and President House Naudero to review the fi
Published 26 Dec, 2011 12:00am
Cadets of PMA Kakul mount guard's duty at Quaid's Mazar

Cadets of PMA Kakul mount guard's duty at Quaid's Mazar

A smartly turned out contingent of Gentlemen Cadets from the Pakistan Military Academy, Kakul mounted ceremonial guard at the Mazar of Quaid-i-Azam here on Sunday as a part of celebrations to mark the Father of the Nation's birthday.
Published 26 Dec, 2011 12:00am
Federal ministers visit Quaid's mazar

Federal ministers visit Quaid's mazar

The Federal Ministers who attended the 100th cabinet meeting here at the Governor House on Sunday, later visited the mausoleum of Quaid-i-Azam to pay homage to the Father of the Nation. They headed from the Governor House up to Mazar of the Quaid in a sim
Published 26 Dec, 2011 12:00am
Army hands over Jinnah House to Culture Department

Army hands over Jinnah House to Culture Department

To commemorate the significance of the birthday of Quaid-i-Azam Muhammad Ali Jinnah, the recently renovated Flag Staff House (Jinnah House) was handed over to the Department of Culture and Heritage Sindh by the Pakistan Army in a simple and graceful cerem
Published 26 Dec, 2011 12:00am
Transporters oppose closure of CNG for a month

Transporters oppose closure of CNG for a month

Karachi Transport Action Committee has strongly opposed the proposed closure of CNG stations for one month in Sindh and demanded of the government not to act upon such a proposal.
Published 26 Dec, 2011 12:00am
520 Indian fishermen languishing in Malir jail

520 Indian fishermen languishing in Malir jail

As many as 520 Indian fishermen are languishing in District Jail Malir of whom cases of 261 prisoners are pending in courts while 259 have completed the sentences, their papers have been checked and verified but they were still in prison because of inacti
Published 26 Dec, 2011 12:00am
135th birth anniversary of Quaid-i-Azam celebrated in KPK, FATA

135th birth anniversary of Quaid-i-Azam celebrated in KPK, FATA

Like elsewhere in the country, the 135th birth anniversary of Father of the Nation, Quaid-i-Azam Muhammad Ali Jinnah was celebrated on Sunday with national spirit and enthusiasm in Khyber Pakthunkhwa and FATA with a renew pledge to strictly adhere to his
Published 26 Dec, 2011 12:00am
JUI-S chief to visit Mardan today

JUI-S chief to visit Mardan today

Chairman, Jamiat-e-Ulma-e-Islam (S) and Defence Council of Pakistan, Maulana Samiul Haq would visit Mardan on Monday where he would meet with senior party leaders to discuss future strategy, said a press release here on Sunday.
Published 26 Dec, 2011 12:00am
Haniya leaves Gaza for first time since 2007

Haniya leaves Gaza for first time since 2007

Hamas premier Ismail Haniya left the Gaza Strip for a regional tour on Sunday for the first time since Israel and Egypt imposed a siege in 2007, his office said. Sources in his office told AFP that Haniya would visit Egypt and Sudan, after which he plans
Published 26 Dec, 2011 12:00am
Afghan soldier killed after gunfight with US troops

Afghan soldier killed after gunfight with US troops

An Afghan soldier was killed in a gunfight with US troops in south-west Afghanistan after he opened fire during an argument on Christmas eve, officials said Sunday. US troops were also injured in the incident on Saturday after the Afghan soldier began sho
Published 26 Dec, 2011 12:00am
Iran ready to expand military links with Iraq

Iran ready to expand military links with Iraq

Iran stands ready to expand its military and security ties with Iraq, its armed forces chief of staff said Sunday, a week after the exit of US forces from the neighbouring Arab country. General Hassan Firouzabadi hailed the "forced departure" of the US an
Published 26 Dec, 2011 12:00am
Russia rocked by new mass anti-Putin rally

Russia rocked by new mass anti-Putin rally

Russia on Sunday came to terms with its second mass opposition rally within a month which was even bigger and more sharply critical of strongman Vladimir Putin than the first such protest two weeks ago.
Published 26 Dec, 2011 12:00am
Putin team defiant after protest rocks Russia

Putin team defiant after protest rocks Russia

Vladimir Putin still has the support of a majority of Russians, his spokesman said Sunday after a mass protest challenged the premier's authority two months before he stands in presidential polls.
Published 26 Dec, 2011 12:00am
Yemenis rally for Saleh trial despite shootings

Yemenis rally for Saleh trial despite shootings

Tens of thousands of protesters took to the streets of Yemen's capital Sunday calling for President Ali Abdullah Saleh to face trial, a day after his forces and loyalists killed 13 people at a similar demonstration.
Published 26 Dec, 2011 12:00am
Egypt releases prominent blogger

Egypt releases prominent blogger

Egyptian authorities released a prominent blogger detained on charges of inciting violence against the armed forces, a court source said on Sunday, adding that prosecutors were still investigating his case. Military prosecutors detained Alaa Abd El Fattah
Published 26 Dec, 2011 12:00am
US eyes hands-off policy in Iraq

US eyes hands-off policy in Iraq

The United States is mulling a far more subdued role in Iraq after pulling its troops out, and has no intention to send its forces back in despite a spike in violence, The New York Times reported Sunday.
Published 26 Dec, 2011 12:00am
Arabs urged to monitor Syrian flashpoints

Arabs urged to monitor Syrian flashpoints

The opposition Syrian National Council appealed on Sunday for the Arab League to send observers immediately to the besieged city of Homs and other hotspots of a bloody crackdown on dissent.
Published 26 Dec, 2011 12:00am
Egypt's military rulers study plan to speed up vote

Egypt's military rulers study plan to speed up vote

Egypt's military rulers are studying a proposal from their own advisers to bring forward parliamentary elections by two weeks after demands from protesters and politicians to speed up transition to civilian rule, an advisory council member said on Sunday.
Published 26 Dec, 2011 12:00am
At least 38 dead in Haitian shipwreck off Cuba

At least 38 dead in Haitian shipwreck off Cuba

At least 38 people died on Saturday when a boat carrying Haitian migrants sunk off the coast of Guantanamo province in far eastern Cuban, Cuban television reported. It said 87 people, including seven women, were rescued after Cuban civil defense forces sp
Published 26 Dec, 2011 12:00am
Israel doubts Europe will stop Iran atom project

Israel doubts Europe will stop Iran atom project

Israel's foreign minister questioned Europe's commitment on Sunday to preventing Iran from obtaining nuclear weapons. "Unfortunately my impression is that some of the nations of Europe and senior figures there speak about sanctions more in order to calm I
Published 26 Dec, 2011 12:00am
China's $300 billion fund a wake-up call to US, Europe

China's $300 billion fund a wake-up call to US, Europe

China's plan for a new $300 billion sovereign wealth fund is as much a warning to Washington as it is a body blow to Brussels. It's the clearest sign yet of Beijing's waning faith in bonds issued by Europe and the United States. Europe's festering debt de
Published 26 Dec, 2011 12:00am
China's $300 billion fund a wake-up call to US, Europe

China's $300 billion fund a wake-up call to US, Europe

China's plan for a new $300 billion sovereign wealth fund is as much a warning to Washington as it is a body blow to Brussels. It's the clearest sign yet of Beijing's waning faith in bonds issued by Europe and the United States. Europe's festering debt de
Published 26 Dec, 2011 12:00am
UK investors bolt for cash as crisis continues

UK investors bolt for cash as crisis continues

British fund managers raised their exposure to cash to the highest level in at least two years in December as a flight to safety accelerated on disillusionment with the eurozone's ability to solve its debt crisis, a Reuters poll showed on Monday. A surve
Published 26 Dec, 2011 12:00am
UK investors bolt for cash as crisis continues

UK investors bolt for cash as crisis continues

British fund managers raised their exposure to cash to the highest level in at least two years in December as a flight to safety accelerated on disillusionment with the eurozone's ability to solve its debt crisis, a Reuters poll showed on Monday. A surve
Published 26 Dec, 2011 12:00am
Italian investors enter 2012 slightly overweight cash

Italian investors enter 2012 slightly overweight cash

Italian fund managers are slightly overweight cash and have trimmed bond allocations after the latest EU summit failed to soothe worries over the euro zone debt crisis and the ECB dashed hopes it would ramp up its debt purchases, a Reuters poll shows.
Published 26 Dec, 2011 12:00am
Italian investors enter 2012 slightly overweight cash

Italian investors enter 2012 slightly overweight cash

Italian fund managers are slightly overweight cash and have trimmed bond allocations after the latest EU summit failed to soothe worries over the euro zone debt crisis and the ECB dashed hopes it would ramp up its debt purchases, a Reuters poll shows.
Published 26 Dec, 2011 12:00am
Japan to enter dollar swap agreement with India

Japan to enter dollar swap agreement with India

The Japanese government is considering a dollar swap arrangement with India to provide emergency liquidity in case the European debt crisis reaches emerging economies, the Nikkei business newspaper said on Sunday. The agreement would set the total swap ar
Published 26 Dec, 2011 12:00am
Swiss bourse SIX wants to stay independent

Swiss bourse SIX wants to stay independent

The Swiss stock exchange, SIX Group, wants to stay independent although its German counterpart, Deutsche Boerse AG, has shown an interest in joining forces several times, its Chairman Peter Gomez told a Swiss newspaper on Sunday.
Published 26 Dec, 2011 12:00am
Al-Rajhi Steel picks BNP for $3 billion project float

Al-Rajhi Steel picks BNP for $3 billion project float

Saudi Arabia's Al Rajhi Steel has appointed BNP Paribas as the financial adviser for an initial public offering of its $3 billion steel project north of Jeddah, Middle East Economic Digest said on Tuesday. The timing of the IPO on the Saudi stock exchange
Published 26 Dec, 2011 12:00am
Emerging borrowers face rollover risk, default threat in 2012

Emerging borrowers face rollover risk, default threat in 2012

Scarce dollar funding and a retrenchment in bank lending will force up premiums for emerging market countries and companies refinancing debt next year, adding to strains on public finances and potentially triggering a surge in corporate defaults.
Published 26 Dec, 2011 12:00am
Wall Street Weekahead: Santa rally may face test next week

Wall Street Weekahead: Santa rally may face test next week

Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year. The broad S&P 500 index broke through its 200-day moving average on Friday after turning positive for the year
Published 26 Dec, 2011 12:00am
European crisis to cast dark cloud over Japanese stocks

European crisis to cast dark cloud over Japanese stocks

Sustained worries over the European debt crisis weighed on Japanese shares in a holiday-shortened week to Thursday, marking its third straight weekly loss with no immediate end to the problem in sight. Global scepticism about European leaders' efforts to
Published 26 Dec, 2011 12:00am
European markets await more turbulence in 2012

European markets await more turbulence in 2012

European stocks and the euro will face fresh turbulence in 2012 after a year in which equity markets slumped and the single currency lost ground against the dollar mainly due to the eurozone crisis. Europe's main stock markets have tumbled between 6.5 and
Published 26 Dec, 2011 12:00am
Turkey to sign gas pipeline deal with Azerbaijan today

Turkey to sign gas pipeline deal with Azerbaijan today

Azerbaijan and Turkey will sign a memorandum of understanding on December 26 to build a Trans-Anatolian gas pipeline project, which will carry Azeri gas across Turkey to Europe, Turkish energy ministry said in a statement on Sunday.
Published 26 Dec, 2011 12:00am
Thai central bank expects 2012 capital flows in balance

Thai central bank expects 2012 capital flows in balance

Thailand may see net capital flows in balance next year, with a smaller trade and current account surplus due to global economic uncertainty, machinery imports, and the delayed effect of floods on the domestic economy, the central bank said on Sunday.
Published 26 Dec, 2011 12:00am
HSBC extends $250 million loan to Israel natgas explorers

HSBC extends $250 million loan to Israel natgas explorers

Israel's Delek Drilling and Avner Oil Exploration said on Sunday they have received a combined $250 million loan from HSBC for the development of the Tamar and Leviathan natural gas sites and other expenses. Delek and Avner, units of conglomerate Delek Gr
Published 26 Dec, 2011 12:00am
Schaeuble vows to push for financial transaction tax

Schaeuble vows to push for financial transaction tax

German Finance Minister Wolfgang Schaeuble vowed in an interview published on Sunday to push ahead for a financial transaction tax in the European Union in 2012 despite objections from Britain that it could harm London as a global financial centre. Schaeu
Published 26 Dec, 2011 12:00am
European carbon market suffers in annus horribilis

European carbon market suffers in annus horribilis

Europe's market in carbon emissions is hoping for outside help after a year in which prices slumped to record lows, savaging claims that trading in CO2 brakes the rise of dangerous greenhouse gases.
Published 26 Dec, 2011 12:00am
Auto industry faces tougher year in 2012: Audi CEO

Auto industry faces tougher year in 2012: Audi CEO

The automotive industry faces a tougher year in 2012 than it has done this year, Audi Chief Executive Rupert Stadler told Reuters in an interview for release on Sunday. "But this should not be a reason to fall into pessimism," he said, adding that the aut
Published 26 Dec, 2011 12:00am
Roche had lower sales in Europe, stable US

Roche had lower sales in Europe, stable US

Swiss drugmaker Roche is seeing falling sales in Europe, stable sales in the United States and double-digit growth in Asia, its Chief Executive said in an interview with a Swiss newspaper on Sunday.
Published 26 Dec, 2011 12:00am
Egypt's Citadel swings to loss in third quarter

Egypt's Citadel swings to loss in third quarter

Egyptian private equity firm Citadel Capital said on Sunday it swung to a standalone loss of 20.7 million Egyptian pounds ($3.5 million) in the third quarter, compared with a net profit of 18.43 million pounds in the same period last year.
Published 26 Dec, 2011 12:00am
Egypt's Citadel swings to loss in third quarter

Egypt's Citadel swings to loss in third quarter

Egyptian private equity firm Citadel Capital said on Sunday it swung to a standalone loss of 20.7 million Egyptian pounds ($3.5 million) in the third quarter, compared with a net profit of 18.43 million pounds in the same period last year.
Published 26 Dec, 2011 12:00am
Japan, China look to FTA talks, debt buys

Japan, China look to FTA talks, debt buys

Japan and China agreed to start formal talks early next year on a free trade pact that would also include South Korea, Japanese Prime Minister Yoshihiko Noda said on Sunday after talks that showed the deepening bonds between Asia's two biggest economies.
Published 26 Dec, 2011 12:00am
Dubai sets 2012 budget with lower $498 million gap

Dubai sets 2012 budget with lower $498 million gap

Dubai's ruler on Sunday approved a 2012 government budget with a smaller deficit than in 2011, an official statement said, as spending on development projects in the debt-laden Gulf Arab emirate decreased. The budget shortfall of the United Arab Emirates
Published 26 Dec, 2011 12:00am
Tepco asked banks to extend 2 trillion yen loan deadline

Tepco asked banks to extend 2 trillion yen loan deadline

Tokyo Electric Power Co and a government-backed support mechanism for nuclear disaster compensation have asked major lenders to extend the repayment deadline for the 2 trillion yen borrowed by the troubled utility, Kyodo news agency said on Sunday.
Published 26 Dec, 2011 12:00am
Freeport Indonesia workers to gradually return to work

Freeport Indonesia workers to gradually return to work

Workers at Freeport McMoran Copper & Gold Inc's mine in Indonesia will gradually return to work this week to end a three-month strike that has crippled output and exports from the world's second-biggest copper mine, union officials said on Sunday.
Published 26 Dec, 2011 12:00am
My target is to become doubles top player: Aisam

My target is to become doubles top player: Aisam

Pakistan's most successful tennis player Aisam-ul-Haq Qureshi, who recently got married, said that his marriage has not deterred him from his aim, which is to become top ranked doubles tennis player.
Published 26 Dec, 2011 12:00am
Sri Lanka hope for Durban change of luck

Sri Lanka hope for Durban change of luck

South Africa will remain favourites but Sri Lanka can expect less treacherous batting conditions in the second Test starting at Kingsmead Monday. Sri Lanka were swept aside by an innings and 81 runs before tea on the third day in the first Test at Centuri
Published 26 Dec, 2011 12:00am
Argentina coaching dance gains momentum

Argentina coaching dance gains momentum

Former Argentine World Cup-winning goalkeeper Nery Pumpido is to take charge of Godoy Cruz amid a series of coaching changes in the country's first division ahead of the Clausura championship in the second half of the season.
Published 26 Dec, 2011 12:00am
PCB invites Whatmore to coach team

PCB invites Whatmore to coach team

Pakistan's cricket board Sunday said it has invited former World Cup winning Sri Lanka coach Dav Whatmore to finalise his appointment as head coach of the national team, an official said. Pakistan cricket team is without a full time coach since former pac
Published 26 Dec, 2011 12:00am
Spurs handed Van der Vaart boost

Spurs handed Van der Vaart boost

Tottenham have received a Christmas boost with the news that Dutch forward Rafael van der Vaart may face Norwich on Tuesday after his hamstring injury proved less serious than first feared. The 28-year-old Holland star went off at half-time in Thursday's
Published 26 Dec, 2011 12:00am
Villas-Boas praises 'exceptional' Lampard

Villas-Boas praises 'exceptional' Lampard

Frank Lampard was described as "exceptional" by Chelsea boss Andre Villas-Boas on Sunday despite the Portuguese coach leaving the veteran England midfielder out of the last three big games. The 33-year-old will return to the side on Monday after Ramires p
Published 26 Dec, 2011 12:00am
Pakistan complete China clean-sweep

Pakistan complete China clean-sweep

Pakistan on Sunday completed a clean sweep of China in their four-match series, the first international hockey event in the troubled country since 2004. Pakistan won the final match 2-1 to emerge unbeaten in the series after taking the first three games i
Published 26 Dec, 2011 12:00am
Australia rookies face Indian greats

Australia rookies face Indian greats

Australia may have an inexperienced batting top three but they are in form ahead of the opening Boxing Day Test against India, Australian vice-captain Brad Haddin said on Sunday. Australia's top three in the batting order - David Warner, Ed Cowan and Shau
Published 26 Dec, 2011 12:00am
US teen, 15, sets seven-peak climbing record

US teen, 15, sets seven-peak climbing record

A 15-year-old American has become the youngest person to climb the highest mountains on each of the seven continents, completing the feat by summiting Antarctica's Mount Vinson over the weekend.
Published 26 Dec, 2011 12:00am
Sales of new athletic shoe cause fights, arrests

Sales of new athletic shoe cause fights, arrests

Police in several cities around the country on Friday were called to stores to manage unruly shoppers seeking Nike's new Air Jordan athletic shoes. In cities from North Carolina to Washington state, crowds pushed, fought or rushed the doors to buy the bla
Published 26 Dec, 2011 12:00am
Football hooligan receives 30-year stadium ban

Football hooligan receives 30-year stadium ban

The football hooligan whose attack on AZ Alkmaar goalkeeper Esteban Alvarado caused the Dutch cup game between Ajax and Alkmaar to be abandoned has been given a 30-year stadium ban. The Dutch newspaper De Volkskrant reported late Saturday that Ajax Amster
Published 26 Dec, 2011 12:00am
African duty could hit City: Adebayor

African duty could hit City: Adebayor

Tottenham striker Emmanuel Adebayor believes that Manchester City's Premier League title push could be derailed by January's African Cup of Nations tournament. City will lose influential brothers Yaya Toure and Kolo Toure to the Ivory Coast squad for the
Published 26 Dec, 2011 12:00am
UBS puts clients ahead of league table ranking

UBS puts clients ahead of league table 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.
Published 26 Dec, 2011 12:00am
GSK sells North American brands to Prestige

GSK sells North American brands to Prestige

GlaxoSmithKline has agreed to sell a clutch of North American non-prescription drugs for 426 million pounds ($660 million) to Prestige Brands Holdings, and remains in talks regarding the sale of similar European assets.
Published 26 Dec, 2011 12:00am
Toyota eyes 20 percent global sales growth

Toyota eyes 20 percent global sales growth

Japan's biggest carmaker Toyota said on December 22 it would aim to boost global sales by a fifth next year, seeking growth in emerging markets to counter sluggish demand in the crisis-hit developed world. A dismal 2011, which saw sales shrink six percent
Published 26 Dec, 2011 12:00am
Malaysian Airlines cuts more routes to stem losses

Malaysian Airlines cuts more routes to stem losses

Flag carrier Malaysia Airlines on December 23 said it would cut four more routes in Asia, a week after announcing a suspension to some global destinations as it tries to return to profit. The airline, which has struggled to stay in the black in recent yea
Published 26 Dec, 2011 12:00am
Want to buy a mutual fund in Singapore? Pass a test first

Want to buy a mutual fund in Singapore? Pass a test first

Buying a mutual fund in Singapore may not be a cakewalk anymore. Under new investor-protection rules that take effect January 1, investors in the tightly controlled city-state must possess certain educational qualifications related to finance or have rele
Published 26 Dec, 2011 12:00am
Want to buy a mutual fund in Singapore? Pass a test first

Want to buy a mutual fund in Singapore? Pass a test first

Buying a mutual fund in Singapore may not be a cakewalk anymore. Under new investor-protection rules that take effect January 1, investors in the tightly controlled city-state must possess certain educational qualifications related to finance or have rele
Published 26 Dec, 2011 12:00am
Banks downgrade threat remains despite ECB funds: S&P

Banks downgrade threat remains despite ECB funds: S&P

The half a trillion euros the European Central Bank pumped into the financial system buys hard-hit banks valuable time but will not in itself protect them from threatened rating downgrades, one of Standard and Poor's top executives said.
Published 26 Dec, 2011 12:00am
Abu Dhabi's NPCC eyes ADNOC 's mega oil projects

Abu Dhabi's NPCC eyes ADNOC 's mega oil projects

Abu Dhabi-based oil and gas services contractor National Petroleum Construction Company hopes the launch of a number of big projects in the Emirates next year will boost revenue after a flat 2011. "At least four to five mega projects will be launched by A
Published 26 Dec, 2011 12:00am
Money managers forge ahead despite volatility

Money managers forge ahead despite volatility

It is a good time to be a US stock investor for the long term - if you can ignore the noise erupting every few hours. That is the advice from some money managers, who are taking the opposite tack of many who want to avoid the turbulence. Instead, they are
Published 26 Dec, 2011 12:00am
Google doing away with black navigation bar

Google doing away with black navigation bar

Say goodbye to the black navigation bar as Google has announced a fundamental re-design of its website. The black navigation bar across the top of the screen through which users navigate the various Google services will disappear.
Published 26 Dec, 2011 12:00am
Firefox extend search deal

Firefox extend search deal

Google will remain the default search engine on the Firefox web browser after the web-search giant inked a deal ON December 21 with the open-source organisation. "Under this multi-year agreement, Google Search will continue to be the default search provid
Published 26 Dec, 2011 12:00am
Microsoft walking off CES stage

Microsoft walking off CES stage

Microsoft on December 21 said that it will step out of the spotlight at the annual Consumer Electronics Show (CES) in Las Vegas, connecting with industry players in the wings and shunning the stage. The CES gadget extravaganza in January will be the last
Published 26 Dec, 2011 12:00am
Verizon 4G network crashes again

Verizon 4G network crashes again

A high-speed smartphone data service freshly rolled out by Verizon crashed anew on December 21 as the US telecom titan continued to work out issues with its new-generation network.
Published 26 Dec, 2011 12:00am
New 6-inch reader from PocketBook

New 6-inch reader from PocketBook

PocketBook has introduced a new e-book reader with electronic ink (E-Ink). The PocketBook 611 offers a 6-inch gray scale display (800 x 600 pixels with 166 dpi resolution) which weighs 175 grams and is less than one-centimetre thick. Eighteen formats can
Published 26 Dec, 2011 12:00am
Internet lets US export consumer lifestyle

Internet lets US export consumer lifestyle

As gift-buying frenzy mounts in the Christmas, Uinted States retailers are exporting the country's shopping culture along with once hard-to-get goods to locales around the world.
Published 26 Dec, 2011 12:00am
Yahoo! synchs more websites with Facebook

Yahoo! synchs more websites with Facebook

Yahoo! on December 20 announced that it has ramped up the number of its websites around the world that let visitors automatically share what stories they read with Facebook friends. A feature added in September to Yahoo! News in the United States has been
Published 26 Dec, 2011 12:00am
Evernote 'memory aid' apps recall people, meals

Evernote 'memory aid' apps recall people, meals

If you have trouble putting a name to a face, or remembering where you ate that delicious morsel of food you are craving - and you have an iPhone - help is now at hand. Evernote, designed as a memory-aid application for storing text, audio and visual note
Published 26 Dec, 2011 12:00am
Steve Jobs to get posthumous Grammy

Steve Jobs to get posthumous Grammy

Computer visionary Steve Jobs is to be awarded a posthumous Grammy in honour of his profound affect on the music business, the Recording Academy announced on December 21. The late co-founder and CEO of Apple will be the recipient of the organisation's Tru
Published 26 Dec, 2011 12:00am
Data to be a defining tech trend in 2012

Data to be a defining tech trend in 2012

The start of this year was marked by a tech industry obsession with where to put growing mountains of information gathered online and by sensors increasingly woven into modern lifestyles.
Published 26 Dec, 2011 12:00am
Facebook told to clarify privacy policy to users

Facebook told to clarify privacy policy to users

Facebook has to explain better what happens to users' personal data and give them more control, the data commissioner in Ireland, home to the website's international headquarters, said on December 21. Facebook must work towards "simpler explanations of it
Published 26 Dec, 2011 12:00am
US Internet users not as scam-savvy as they think

US Internet users not as scam-savvy as they think

US Internet users are suckers for online scams, especially if the promised prize is a chance at a hip new gadget such as a tablet computer, according to study results released on December 21.
Published 26 Dec, 2011 12:00am
NASA finds Earth-size planets outside solar system

NASA finds Earth-size planets outside solar system

NASA's Kepler mission has discovered the first Earth-size planets orbiting a sun-like star outside our solar system, a milestone in the search for planets like the earth, the space agency said on December 20. The planets, called Kepler-20e and Kepler-20f,
Published 26 Dec, 2011 12:00am
Toasted planets give hint of solar system's future

Toasted planets give hint of solar system's future

The remains of two planets closely orbiting a dying star some 3,900 light years away have given astronomers a glimpse of what may happen at the demise of our own solar system about five billion years from now.
Published 26 Dec, 2011 12:00am
Hearing difficulty can be symptom of illness

Hearing difficulty can be symptom of illness

Being hard of hearing is rarely an isolated ailment, but rather a symptom of underlying illness, and for this reason patients should undergo not merely a hearing test, but also a thorough ear, nose and throat examination.
Published 26 Dec, 2011 12:00am
China orders nation-wide emission cuts by 2015

China orders nation-wide emission cuts by 2015

China on December 20 ordered local governments to reduce emissions of "major pollutants" by as much as 10 percent by 2015, amid growing public anxiety over the country's bad air.
Published 26 Dec, 2011 12:00am
Strict diet can save brain from aging: study

Strict diet can save brain from aging: study

Eating less may keep the mind young, according to Italian scientists who reported on December 19 they have discovered the molecular process by which a strict diet may save the brain from the ravages of age. The research, published in the US journal the Pr
Published 26 Dec, 2011 12:00am
Big quakes no more likely than in past

Big quakes no more likely than in past

Massive earthquakes are no more likely today than they were a century ago, despite an apparent rise of the devastating temblors in recent years, US researchers said.
Published 26 Dec, 2011 12:00am
Industrialists meet AIG Karachi

Industrialists meet AIG Karachi

A delegation of North Karachi Association of Trade and Industries met Additional Inspector General (AIG) Karachi Akhter Hussain Gorchani here in his office on Sunday. The delegation, comprising of ten members and led by Faraz Mirza informed the AIG about
Published 26 Dec, 2011 12:00am
Moldovan rebel region votes in presidential run-off

Moldovan rebel region votes in presidential run-off

Moldova's breakaway Transdniestria region voted on Sunday in the second round of a presidential election that pits a popular politician against a candidate backed by Russia. Parliament member Yevgeny Shevchuk received 38.5 percent of the vote in the first
Published 26 Dec, 2011 12:00am
Sea Shepherd uses drone to locate Japanese whaling fleet

Sea Shepherd uses drone to locate Japanese whaling fleet

Activist group Sea Shepherd said Sunday it had located the Japanese whaling fleet in the Southern Ocean with the help of a military-style drone aircraft. The drone was launched from the Steve Irwin, one of three vessels that sailed from Australia this mon
Published 26 Dec, 2011 12:00am
US man slain in Philippine robbery

US man slain in Philippine robbery

A retired American Marine living in the Philippines was killed during a home invasion on Christmas Eve, police said Sunday. James Thomas Kakara, 61, was bludgeoned to death Saturday while he was alone at his home in Tagaytay, an upscale community near Man
Published 26 Dec, 2011 12:00am
High waves hit Thailand on eve of tsunami anniversary

High waves hit Thailand on eve of tsunami anniversary

Waves measuring up to 5 metres high hit Thailand's Chumphon province Sunday, inundating beach-front properties but claiming no victims, residents said. The cause of the high waves was not immediately known.
Published 26 Dec, 2011 12:00am
Japan to ask Myanmar to join bilateral pact

Japan to ask Myanmar to join bilateral pact

Japan's foreign minister will suggest that Myanmar enter negotiations on a bilateral investment accord when he holds talks with the country's top officials next week, Kyodo News reported on Sunday. The talks would mark another step as Myanmar gradually re
Published 26 Dec, 2011 12:00am
Greek monk accused of money laundering arrested

Greek monk accused of money laundering arrested

A Greek monk accused of money laundering and embezzlement in connection with a land swap deal was placed under house arrests in his cell at the Vatopedi Monastery at Mount Athos, radio reports said Sunday. Abbot Ephraim was taken into police custody on th
Published 26 Dec, 2011 12:00am
Military Wives tops UK Christmas singles chart

Military Wives tops UK Christmas singles chart

A choir of wives of soldiers serving in Afghanistan topped the British singles charts on Sunday, beating X Factor winners Little Mix to the Christmas No 1 spot and outselling the rest of the top 12 put together.
Published 26 Dec, 2011 12:00am
India's cold wave death toll surges to 128

India's cold wave death toll surges to 128

At least 128 people have died during a two-week-long cold spell sweeping across northern and eastern India, news reports said Sunday. Most of the deaths occurred in Uttar Pradesh, India's most populous state, the CNN-IBN network reported. Previous reports
Published 26 Dec, 2011 12:00am
UK's ailing Prince Philip misses royal Christmas

UK's ailing Prince Philip misses royal Christmas

Queen Elizabeth's 90-year-old husband spent Christmas Day in a hospital bed after successful surgery to clear a blocked heart artery, missing the royal family's celebrations at its rural Sandringham estate in eastern England.
Published 26 Dec, 2011 12:00am
North Korea says South's stance may be 'catastrophic'

North Korea says South's stance may be 'catastrophic'

North Korea on Sunday lashed out at South Korea for a perceived lack of respect towards Kim Jong-Il, as it reported more scenes of mass grieving in the isolated communiist state for the late leader Saying the whole world is in mourning for "a peerlessly g
Published 26 Dec, 2011 12:00am
100 injured by fireworks in Argentina

100 injured by fireworks in Argentina

More than 100 people were taken to hospital in Argentina's capital, some with serious burns and eye injuries, after they were hurt by Christmas fireworks, medical officials said Sunday. "We had a 20 percent increase over last year, with 57 patients admitt
Published 26 Dec, 2011 12:00am
Iran rejects US allegation on al Qaeda operative

Iran rejects US allegation on al Qaeda operative

Iran rejected as "completely baseless" US allegations that it was harbouring an al Qaeda member who is accused of operating as a facilitator and financier for the group from the Islamic Republic, the semi-official Fars news agency reported on Sunday.
Published 26 Dec, 2011 12:00am
Wild Christmas weather hits Australia

Wild Christmas weather hits Australia

Wild weather battered Australia Sunday, with a tropical cyclone closing in on the north as tornadoes and thunderstorms brought hail in the south and huge swells forced the closure of popular beaches.
Published 26 Dec, 2011 12:00am
School bus mishap kills at least seven in China

School bus mishap kills at least seven in China

At least seven people including five students were killed in south-west China after an overloaded mini van plunged into a valley, state news agency Xinhua said on Sunday, the latest in a series of accidents that have sparked public outrage.
Published 26 Dec, 2011 12:00am
Five Afghans die after drinking methanol

Five Afghans die after drinking methanol

Five people died and 10 others were hospitalised after drinking methanol at an engagement party in Kabul, the capital of staunchly conservative Afghanistan, the interior ministry said on Sunday.
Published 26 Dec, 2011 12:00am
Revision in forward cover rules

Revision in forward cover rules

The State Bank's decision on 21st December 2011 to revise the terms of forward cover facility provided to the importers would not be surprising for those who have been watching the behaviour of the rupee, both in the spot and forward markets, closely and
Published 26 Dec, 2011 12:00am
US investigation report a mere eyewash

US investigation report a mere eyewash

The US military's much hyped inquiry report is out regarding the November 26 attack on two Pakistani border posts that killed 24 soldiers. As expected, no one is held responsible; instead the report blames "inadequate co-ordination by US and Pakistan mili
Published 26 Dec, 2011 12:00am
Whither the wind will blow! Some thoughts

Whither the wind will blow! Some thoughts

Political activity is once again focused on the President and questions are yet again being asked whether the minus one formula will succeed. This, no doubt, accounts for the technically correct but unrealistic statement by Prime Minister Gilani that it i
Published 26 Dec, 2011 12:00am
Government has no business to be in business - II

Government has no business to be in business - II

Pakistan International Airlines (PIA) has reportedly suffered a loss of Rs 5.4 billion for the year 2009 with an accumulated loss of Rs 43.4 billion during the last two years. Far from restructuring and reorganising the surplus staff, PIA confirmed thousa
Published 26 Dec, 2011 12:00am
Hard-up German pensioners forced back to work

Hard-up German pensioners forced back to work

Germany, as Europe's top economy, may be seen as the land of plenty but its senior citizens are increasingly being forced to take a part-time job in their twilight years just to make ends meet. With more inhabitants over the age of 65 than any of its Euro
Published 26 Dec, 2011 12:00am
The talk-show anchors

The talk-show anchors

The electronic media in Pakistan grew in recent years. In this rapid progress the TV talk shows became the focus of public interest surpassing entertainment programmes. The fast growth did not give time to the proprietors of the channels to train the TV a
Published 26 Dec, 2011 12:00am
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