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Archive - 2011-12-31
India's PM worried by budget deficit
Top News

India's PM worried by budget deficit

NEW DELHI: India's Prime Minister Manmohan Singh said Saturday in his New Year's message to the nation that controlling
Published 31 Dec, 2011 07:56pm
US signed with UAE to sell $3.5bn arms
Top News

US signed with UAE to sell $3.5bn arms

WASHINGTON : The United States has signed a $3.5 billion sale of an advanced antimissile interception system to the
Published 31 Dec, 2011 04:44pm
Guinea retires 4,600 soldiers
Africa

Guinea retires 4,600 soldiers

CONAKRY: Guinea has forced about 4,600 soldiers into retirement, the government said on Saturday, as part of a drive to
Published 31 Dec, 2011 03:53pm
World to ring in 2012
Top News

World to ring in 2012

SYDNEY: Spectacular fireworks and crowded parties will ring in the New Year for revellers around the world Saturday, as
Published 31 Dec, 2011 02:56pm
Thai floods death toll tops 800
Asia

Thai floods death toll tops 800

BANGKOK: The death toll from months of flooding in Thailand has risen above 800, although the waters have receded in man
Published 31 Dec, 2011 04:44am
PM dismisses chances of early polls
Top News

PM dismisses chances of early polls

RECORDER REPORT MULTAN: Prime Minister Syed Yousuf Raza Gilani on Friday dismissed any chance of early polls, adding
Published 31 Dec, 2011 04:33am
Judiciary is independent: PM
Top News

Judiciary is independent: PM

ISLAMABAD: Prime Minister Yousaf Raza Gilani has said that judiciary “is independent”, and the government fully respects
Published 31 Dec, 2011 04:20am
Japan to provide Rs9.34bn assistance
Top News

Japan to provide Rs9.34bn assistance

NAVEED BUTT ISLAMABAD: Japan would provide Rs 9.34 billion assistance including Rs 702.34 million share of Sindh gove
Published 31 Dec, 2011 04:00am
Use of CNG in public transport banned
Top News

Use of CNG in public transport banned

ABDUL RASHEED AZAD ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has clamped immediate ban on the use of com
Published 31 Dec, 2011 03:42am
WB for reduction in FBR workforce
Top News

WB for reduction in FBR workforce

SOHAIL SARFRAZ ISLAMABAD: The World Bank has proposed to the Federal Board of Revenue to rationalise the number of st
Published 31 Dec, 2011 03:35am
New York ramps up security for New Year's Eve bash

New York ramps up security for New Year's Eve bash

New York City police are gearing up for a massive security operation as the Big Apple prepares to usher in the New Year with a party expected to attract over one million revellers to Times Square. Thousands of police officers, including 1,550 newly minted
Published 31 Dec, 2011 12:00am
Forest fire closes Chile nature preserve

Forest fire closes Chile nature preserve

A massive forest fire raged Friday uncontrolled in southern Chile, forcing the closure of a famed national park after consuming thousands of hectares of the Patagonian steppe. Winds of up to 90 kilometers (56 miles) an hour were expected to fan the flames
Published 31 Dec, 2011 12:00am
Ukraine former Prime Minister Tymoshenko moved to remote prison

Ukraine former Prime Minister Tymoshenko moved to remote prison

Former Ukrainian Prime Minister Yulia Tymoshenko, sentenced to seven years in prison for abuse of office, has been moved to prison from a detention centre where she has been held since early August, the state penitentiary service said on Friday.
Published 31 Dec, 2011 12:00am
Russia submarine fire 'totally extinguished'

Russia submarine fire 'totally extinguished'

Russia said on Friday it had doused a raging blaze aboard a nuclear submarine after nearly a full day and night, by partially submerging the vessel after battling the flames with water from helicopters and tug boats. There was no radiation leak and crew i
Published 31 Dec, 2011 12:00am
French unions may torpedo Sarkozy's jobs plan

French unions may torpedo Sarkozy's jobs plan

President Nicolas Sarkozy aims to clinch a deal next month to make France's job market more flexible and stem rising unemployment ahead of next year's election, but the country's unions may derail his hopes for sweeping reforms. Sarkozy's ambitious propos
Published 31 Dec, 2011 12:00am
Taiwan election too close to call as US, China look on

Taiwan election too close to call as US, China look on

Taiwan's presidential election, which could have a significant influence on ties between China and the United States, is just over two weeks away but neither of the two main candidates yet holds a clear advantage. The January 14 vote will determine whethe
Published 31 Dec, 2011 12:00am
Romney rips Obama over Hawaii vacation

Romney rips Obama over Hawaii vacation

Republican White House hopeful Mitt Romney on Friday ripped President Barack Obama over his annual Hawaii vacation, painting him as out of touch with Americans' economic suffering. "He's in Hawaii right now. We're out in the cold and the rain and the wind
Published 31 Dec, 2011 12:00am
Al Qaeda-linked chief killed in Gaza strike

Al Qaeda-linked chief killed in Gaza strike

Israel killed the leader of an al Qaeda-inspired faction in the Gaza Strip on Friday, accusing him of involvement in firing rockets and a planned attack on the Jewish state from the neighbouring Egyptian Sinai. The deadly air strike was Israel's second ag
Published 31 Dec, 2011 12:00am
Rafsanjani's website shut down

Rafsanjani's website shut down

A website belonging to Iran's former president Akbar Hashemi Rafsanjani, who has criticised the current regime, has been shut down, his brother told the ISNA news agency on Friday. "Yesterday (Thursday) evening, the company that provides the services made
Published 31 Dec, 2011 12:00am
Brazil bans risky French-made breast implants

Brazil bans risky French-made breast implants

Brazil on Friday announced a ban on French-made breast implants at the center of an international furor over their potential rupture risks. The National Agency for Sanitary Surveillance (ANVISA) withdrew its health authorisation for the implants, the sale
Published 31 Dec, 2011 12:00am
Israel population tops 7.8 million

Israel population tops 7.8 million

The population of Israel, including annexed Arab east Jerusalem and the Golan Heights, topped 7.8 million at the end of 2011, according to figures published Friday by the Central Bureau of Statistics. The 7,836,000 total was made up of 5,901,000 Jews (75.
Published 31 Dec, 2011 12:00am
China court accepts lawsuit against ConocoPhillips

China court accepts lawsuit against ConocoPhillips

A Chinese court has agreed to hear a lawsuit brought against US firm ConocoPhillips by a group of fishermen over an oil spill, state media said Friday. The June leak released more than 3,000 barrels of oil and oil-based mud - used as a lubricant in drilli
Published 31 Dec, 2011 12:00am
Djokovic, Ferrer to clash in Abu Dhabi final

Djokovic, Ferrer to clash in Abu Dhabi final

David Ferrer stunned fellow Spaniard Rafael Nadal in straight sets on Friday to set up a final showdown with world number one Novak Djokovic at the $250,000 three-day exhibition tournament here. Ferrer took advantage of a below-par Nadal, winning 6-3, 6-2
Published 31 Dec, 2011 12:00am
United look to steal march on City

United look to steal march on City

Premier League champions Manchester United will try to put the pressure on leaders Manchester City when they face bottom of the table Blackburn Rovers at Old Trafford on Saturday. A draw or better will see United go top ahead of City's New Year's Day trip
Published 31 Dec, 2011 12:00am
Gleeful Aussie press says 'mongrel' is back

Gleeful Aussie press says 'mongrel' is back

Australian media Friday welcomed the return of the "killer instinct" after their wildly inconsistent team surprisingly humbled India's distinguished batting order to win the first Test in Melbourne. Australia, condemned as the "lowest of the low" after th
Published 31 Dec, 2011 12:00am
Fans rally for embattled Singapore league

Fans rally for embattled Singapore league

Singapore football fans Friday urged supporters not to abandon their embattled domestic league as the country prepares to re-enter competition in neighbouring Malaysia. Local supporters' group 'Lions All The Way' will hold a roadshow in the busy Orchard R
Published 31 Dec, 2011 12:00am
Harris in Australia squad for second India Test

Harris in Australia squad for second India Test

Australian fast bowler Ryan Harris was Friday named to the 12-man squad to take on India in the second Test in Sydney, the only addition to the side which won thhe series opener in Melbourne Harris, who has been out with a hip injury, comes into the squad
Published 31 Dec, 2011 12:00am
PSG name Ancelotti as new coach

PSG name Ancelotti as new coach

Italian Carlo Ancelotti was on Friday named the new coach of Paris Saint-Germain on a two-and-a-half year deal, but former England captain David Beckham has still not committed to the big-spending Qatar-backed French club. The 52-year-old former AC Milan
Published 31 Dec, 2011 12:00am
Wozniacki, Azarenka in Thai flood fundraiser

Wozniacki, Azarenka in Thai flood fundraiser

World number one Caroline Wozniacki has arrived in Thailand for a charity tennis match against Victoria Azarenka to raise money for the country's recent flood crisis, a spokeswoman said Friday. Denmark's Wozniacki will play world number three Azarenka of
Published 31 Dec, 2011 12:00am
Sion docked 36 points by Swiss FA in players row

Sion docked 36 points by Swiss FA in players row

The Swiss Football Association (ASF) on Friday docked FC Sion 36 points as punishment for breaching player recruitment rules. FIFA had threatened to expel the body and all member clubs unless they took sanctions against Sion before January 13. The ASF sai
Published 31 Dec, 2011 12:00am
Bolton agree fee with Chelsea for Cahill

Bolton agree fee with Chelsea for Cahill

Bolton manager Owen Coyle confirmed on Friday that the struggling Premier League club has agreed a fee to sell England international defender Gary Cahill to Chelsea. Bolton have decided to cash in on Cahill, who is out of contract at the end of the season
Published 31 Dec, 2011 12:00am
Yuan hits record, heads for 4.5 percent gain

Yuan hits record, heads for 4.5 percent gain

China's yuan headed for a strong close to 2011 on Friday, touching a record high in early trade after the central bank set the mid-point at a fresh high, putting it on course to gain 4.5 percent for the year. The yuan's gains for the year are in line with
Published 31 Dec, 2011 12:00am
Indian rupee posts biggest annual drop since 2008

Indian rupee posts biggest annual drop since 2008

The Indian rupee ended the year with its biggest annual loss since 2008 as foreign capital took flight on growing concerns about India's current account deficit, its poorly performing stock market and an uncertain global economic outlook. Only, suspected
Published 31 Dec, 2011 12:00am
Australian dollar hits record high versus euro

Australian dollar hits record high versus euro

The Australian dollar scaled a fresh all-time high against the wobbly euro and the kiwi climbed to a three-month peak on Friday as worries Europe's debt problems will drag on for many more months drove long-term yields to record lows. Liquidity was thin w
Published 31 Dec, 2011 12:00am
Euro slightly up

Euro slightly up

The euro traded slightly stronger against the US dollar on Thursday, recovering from a 15-month low as traders covered short bets, a pattern likely to be repeated in coming months as worries about the eurozone's health continue. The currency dropped below
Published 31 Dec, 2011 12:00am
Early trade in New York: Euro up versus dollar

Early trade in New York: Euro up versus dollar

The euro edged up against the dollar on Friday after Spain announced a slew of measures to control its finances, but analysts said the single currency would stay pressured in 2012 as the region's debt crisis roils on. Spain's new government outlined spend
Published 31 Dec, 2011 12:00am
Euro falls to 10-year low versus yen

Euro falls to 10-year low versus yen

The euro hit a 10-year low versus the yen and fell against the dollar on Friday, ending the year on a weak note after breaking below key support levels, and it looked set to remain under pressure in 2012 from Europe's debt crisis. The single currency was
Published 31 Dec, 2011 12:00am
Euro softens in Asia

Euro softens in Asia

The euro was poised to end a roller-coaster year on a downbeat note with an overnight break below crucial support levels boding ill for the year ahead, which again looks set to be dominated by the eurozone debt crisis. Over the past year the euro has lost
Published 31 Dec, 2011 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

Sterling rose against a broadly weak euro on Friday, approaching an 11 1/2-month high as concerns that the eurozone debt crisis will worsen in 2012 prompted investors to dump the single currency on the last trading day of the year. The euro fell half a pe
Published 31 Dec, 2011 12:00am
Banks, miner weigh as FTSE ends 2011 down 5.7 percent

Banks, miner weigh as FTSE ends 2011 down 5.7 percent

Britain's top share index enjoyed a late rally on Friday but ended 2011 down 5.7 percent, led lower by riskier assets as the threat of economic meltdown smouldered in the background. The FTSE 100 closed the truncated last trading session of 2011 up 5.51 p
Published 31 Dec, 2011 12:00am
European shares post steepest annual fall in three years

European shares post steepest annual fall in three years

European shares rose on Friday but still recorded their biggest annual drop since the onset of the financial crisis as debt tensions in the eurozone strained the financial sector and threatened to derail a fragile economic recovery. The FTSEurofirst 300 i
Published 31 Dec, 2011 12:00am
Nikkei down 17 percent in 2011, worst since 2008

Nikkei down 17 percent in 2011, worst since 2008

Japan's leading share average ended higher on Friday but marked a 17 percent loss for 2011, a tumultuous year in which massive natural disasters triggered a nuclear crisis and Europe's debt turmoil drained volumes, leaving investors uncertain of a turnaro
Published 31 Dec, 2011 12:00am
Hong Kong and China shares post worst annual drop since 2008 crisis

Hong Kong and China shares post worst annual drop since 2008 crisis

Hong Kong and China shares suffered their biggest annual loss since the 2008 financial crisis as mounting fears about China, worries about a global recession and heightened volatility in financial markets trumped cheap valuations. Tight monetary policy in
Published 31 Dec, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasury prices rose on Thursday, supported by safe-haven demand on worries that the European sovereign debt crisis may not be solved without causing significant collateral damage to the global financial system. Gains were limited, however, by data on
Published 31 Dec, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasury prices rose on Thursday, supported by safe-haven demand on worries that the European sovereign debt crisis may not be solved without causing significant collateral damage to the global financial system. Gains were limited, however, by data on
Published 31 Dec, 2011 12:00am
Taiwan stocks post worst yearly fall since 2008

Taiwan stocks post worst yearly fall since 2008

Taiwan stocks ended 2011 with their worst yearly performance since 2008, dropping 21 percent, and face more downside risk ahead amid uncertainty over the health of the global economy and the outcome of Taiwan's January presidential elections. On Friday th
Published 31 Dec, 2011 12:00am
Wall Street rises, on track for slim gains in 2011

Wall Street rises, on track for slim gains in 2011

US stocks rallied Thursday, moving the S&P 500 back in positive territory for 2011 ahead of the last trading day of the year, on more positive signals on the US economy. The S&P 500 edged above its 200-day moving average, a key measure of the market's lon
Published 31 Dec, 2011 12:00am
Friday's midday trade: stocks nearly unchanged

Friday's midday trade: stocks nearly unchanged

US stocks were nearly unchanged Friday, the last trading day of a turbulent year, but the S&P 500 looked set to end with a slight gain. Many market participants stayed on the sidelines, reflecting what is typically ultra-light volume for the year's last s
Published 31 Dec, 2011 12:00am
South East Asian stocks end 2011 on high note

South East Asian stocks end 2011 on high note

Most Southeast Asian stock markets pushed higher on Friday and some even managed small gains on the year, in contrast to the rest of Asia, depressed by Europe's unresolved debt crisis and worries about global demand. Even though Southeast Asian markets ha
Published 31 Dec, 2011 12:00am
Indian shares log first annual fall in three years

Indian shares log first annual fall in three years

Indian shares closed 0.6 percent lower on Friday and posted their first annual fall in three years as a combination of near double-digit inflation, high interest rates, slowing domestic growth and policy inaction turned off investors already shaken by glo
Published 31 Dec, 2011 12:00am
Ecuador economy grows 9 percent in third quarter

Ecuador economy grows 9 percent in third quarter

Ecuador's economy expanded 9 percent in the third quarter from a year ago, driven by the construction and oil sectors, but slowed from the previous quarter, the central bank said on Friday. The Opec-member country is forecast to grow 6.5 percent this year
Published 31 Dec, 2011 12:00am
Bradesco pulls out of HSBC Brazil unit buy

Bradesco pulls out of HSBC Brazil unit buy

Banco Bradesco, Brazil's second-biggest private sector bank, pulled out of talks to buy HSBC Holdings Plc's consumer finance unit Losango on concern about potential charges related to labour disputes, a local newspaper reported on Friday. Both banks faile
Published 31 Dec, 2011 12:00am
Food prices push down Ugandan inflation rate

Food prices push down Ugandan inflation rate

Lower food prices drove Uganda's year-on-year inflation rate down to 27 percent in December, data showed on Friday, capping a year which recorded the highest average annual inflation rate since 1992. Analysts said the slowdown, the second in two months, w
Published 31 Dec, 2011 12:00am
RBI raps NBFCs for violating private placement rule

RBI raps NBFCs for violating private placement rule

The Reserve Bank of India has warned non-banking financial companies against raising funds via private placement of bonds for less than 90 days maturity. "This is in clear violation of Issuance of Non-Convertible Debentures (Reserve Bank) Directions, 2010
Published 31 Dec, 2011 12:00am
E.ON to enter overseas markets in first half-report

E.ON to enter overseas markets in first half-report

German utility E.ON will shortly make a move toward planned expansion into new markets outside Europe, Chief Executive Johannes Teyssen told Germany's Boersen-Zeitung. "There will be a successful market entrance already in the first half of 2012," Teyssen
Published 31 Dec, 2011 12:00am
Hungary defiantly adopts controversial laws

Hungary defiantly adopts controversial laws

Hungary defied international concern and adopted Friday central bank reforms and other controversial measures that threaten to leave the country isolated just as its economy needs a bailout. "Nobody can interfere with Hungarian legislative work, there is
Published 31 Dec, 2011 12:00am
Petroplus shuts three oil refineries

Petroplus shuts three oil refineries

Petroplus is to close three of its five oil refineries because it has run out of money for crude supplies since bankers froze its credit lines abruptly this week. Talks with the bankers have been "open and constructive" and will continue in the coming day
Published 31 Dec, 2011 12:00am
US and Europe woes hit China manufacturing

US and Europe woes hit China manufacturing

China's manufacturing activity continued to shrink in December, HSBC said Friday, as economic strife in the key European and US markets hobbled demand for the nation's goods. The final HSBC purchasing managers' index (PMI) reached 48.7 in December, slight
Published 31 Dec, 2011 12:00am
Ford's US sales zoom back to 2007 level

Ford's US sales zoom back to 2007 level

Ford Motor Company said Friday its US sales this week topped two million vehicles for the first time in four years, boosted by strong demand for smaller, more fuel-efficient vehicles. Ford is the first automotive brand to hit the two-million mark since 20
Published 31 Dec, 2011 12:00am
EU extends trade preferences to Balkans

EU extends trade preferences to Balkans

The European Union on Friday renewed trade preferences to the western Balkans until 2015, giving nearly all products from the region duty-free access to the 27-nation market for four more years. The measure will benefit of Albania, Bosnia, Croatia, Macedo
Published 31 Dec, 2011 12:00am
Obama delays request for debt limit increase

Obama delays request for debt limit increase

President Barack Obama will delay asking Congress for $1.2 trillion to raise the US government's debt ceiling to allow vacationing lawmakers time to weigh the request, officials said Friday. But the White House stressed that the decision was purely a proc
Published 31 Dec, 2011 12:00am
Russia cuts Sakhalin-1 funds to $2.89 billion

Russia cuts Sakhalin-1 funds to $2.89 billion

Russia has approved a 2012 budget of $2.89 billion for the ExxonMobil-led Sakhalin-1 oil project, down from $3.26 billion for this year, an industry source told Reuters on Friday. He didn't explain the reason for the budget cut. The project consists of th
Published 31 Dec, 2011 12:00am
Spain vows cuts, higher taxes to fix deficit blow-out

Spain vows cuts, higher taxes to fix deficit blow-out

Spain's new right-leaning government announced a 2011 deficit blowout Friday as it unveiled spending cuts and taxes increases to claw back 15.1 billion euros ($19.6 billion) in 2012. Freshly installed after beating the Socialists in November 20 elections,
Published 31 Dec, 2011 12:00am
Permit extended for Washington protesters

Permit extended for Washington protesters

A Washington offshoot of Occupy Wall Street has won a green light to keep occupying until February 28, officials said Thursday, so long as it shares its space with a conservative group. Occupy Washington DC in Freedom Plaza, which grew out of an anti-war
Published 31 Dec, 2011 12:00am
Greece sells Airbus jets to reduce state debt

Greece sells Airbus jets to reduce state debt

Greece on Friday said it had sold four disused Airbus A340 jets to Miami-based aircraft traders Apollo Aviation for 40.4 million dollars (31 million euros) under an ongoing asset push for quick cash. A government statement said the sale had been approved
Published 31 Dec, 2011 12:00am
Asia shines as 2011 ends under eurozone cloud

Asia shines as 2011 ends under eurozone cloud

The sight of French President Nicolas Sarkozy running to Beijing to solicit funds to save the eurozone summed up what for some was the economic story of 2011 - Asia's boom versus the West's gloom. Coming after some regional nations were forced to go cap-i
Published 31 Dec, 2011 12:00am
Short crop news in overseas market pushes up local cotton prices

Short crop news in overseas market pushes up local cotton prices

Shortage of cotton in the international market due to several factors and owing to long-weekend ahead of Muharram holidays strengthened the local prices on the cotton market on Friday, dealers said. The Karachi Cotton Association (KCA) official spot rate
Published 31 Dec, 2011 12:00am
Argentine soya prices fall

Argentine soya prices fall

Argentina closing soya prices and trends on Thursday: Soya prices in Argentina's Rosario market closed at between 1,230 pesos and 1,285 pesos per tonne ($285.7-$298.5) compared with 1,240 to 1,280 pesos on Wednesday. Downward pressure was put on the local
Published 31 Dec, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 82,349 tonnes of cargo comprising 43,599 tonnes of import cargo and 38,750 tonnes of export cargo including 4,649 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 43,599 tonne
Published 31 Dec, 2011 12:00am
Indonesia's 2011 cocoa output falls 27 percent

Indonesia's 2011 cocoa output falls 27 percent

Cocoa output in Indonesia, the world's third largest producer, fell 27 percent to 420,000 tonnes in 2011 from 575,000 tonnes last year, said the chairman of Indonesia's cocoa association. The output is below industry expectation at 450,000 tonnes from 430
Published 31 Dec, 2011 12:00am
Analyst cuts Ukraine's wheat exports forecast

Analyst cuts Ukraine's wheat exports forecast

Analyst UkrAgro Consult cut its forecast for Ukraine's 2011/12 wheat exports to 7.6 million tonnes from the previous estimate of 9.7 million tonnes, it said on Friday. The consultancy said in a report that Ukraine, which harvested 20.6 million tonnes of w
Published 31 Dec, 2011 12:00am
Corn and soya export premiums steady at US Gulf Coast

Corn and soya export premiums steady at US Gulf Coast

Export premiums for corn and soyabeans at the US Gulf Coast were mostly stable on Thursday amid a lull in demand, traders said. Spot CIF basis bids and FOB basis offers little changed from late Wednesday, traders said. Export markets "extremely quiet," wi
Published 31 Dec, 2011 12:00am
Canadian canola futures fell

Canadian canola futures fell

ICE Canadian canola futures fell on Thursday after seven straight sessions of gains, pressured by weakness in soyabeans. Total volume of 9,637 contracts was lowest in nearly eight weeks and down from trading activity on same date a year ago. Crusher buyin
Published 31 Dec, 2011 12:00am
Prices depict no change on grain market

Prices depict no change on grain market

According to the grain and seed merchants group's press release, no change was seen on the wholesale commodity and seed market on Friday as almost all the participants were busy in preparations for Juma prayers.
Published 31 Dec, 2011 12:00am
Will I use my vote?

Will I use my vote?

It is paradoxical for those who oppose universal suffrage to be forced by the wisdom of the masses to even begin contemplating this question; fate indeed works in mysterious ways. For those, who after reading the very first sentence have formulated a cons
Published 31 Dec, 2011 12:00am
The legend lives on

The legend lives on

The Kasur-born nightingale - Noor Jehan, lovingly known as Melody Queen contributed so much to the shaping of Pakistani melodic culture that it is not possible to encompass all that in this short piece of writing. Her real name was Allah Wasi, one of the
Published 31 Dec, 2011 12:00am
KARACHI CHRONICLE: PTI show through old eyes

KARACHI CHRONICLE: PTI show through old eyes

The Pakistan Tehrrek-i-Infsaf rally near the Quaid's mausoleum on Sunday was a joyous festival for the thousands of enthusiastic young men and women waving flags and singing along with the broadcast party songs. Their unanimous opinion was that it was a h
Published 31 Dec, 2011 12:00am
ART FACTS: Stately nostalgic

ART FACTS: Stately nostalgic

Well defined lines blended with realistic situations, balanced by light and shadows depict an overwhelming energy in the paintings of Ghulam Mustafa. After graduating in Fine Arts from National College of Arts, Lahore in 1974, Mustafa opted for landscape
Published 31 Dec, 2011 12:00am
Plan food diary for the year 2012

Plan food diary for the year 2012

Most people around the world associate New Year with making resolutions, setting goals and achieving tasks. Interestingly, health care and weights loss programmes rank top positions among top ten popular New Year's resolutions year after year.
Published 31 Dec, 2011 12:00am
LITERARY NOTES: Hameed Akhtar's and Dr Raj Bahadur Gor's legacy

LITERARY NOTES: Hameed Akhtar's and Dr Raj Bahadur Gor's legacy

With Hameed Akhtar's exit from the literary scene it dawns all of a sudden that the list of writers and journalist who attained reputation in the pre-independence times is fast shrinking. Only a few veterans remain in our midst but they are living off the
Published 31 Dec, 2011 12:00am
BRIDGE NOTES: Pro is a pro at bridge

BRIDGE NOTES: Pro is a pro at bridge

Bridge has different levels in the understanding of the game comprehensively. For the beginner the basics are enough to trudge him on, for the average and average plus, some logical inferences need to be picked and polished to make his path a progressive
Published 31 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 31 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 31 Dec, 2011 12:00am
Three HC Chief Justices to investigate Memogate

Three HC Chief Justices to investigate Memogate

In its short order, a nine-member bench of the Supreme Court (SC) on Friday declared identical petitions in Memogate controversy as quite maintainable and formed a Judicial Commission to investigate the controversial memo issue within four weeks. Meanwhil
Published 31 Dec, 2011 12:00am
Three HC Chief Justices to investigate Memogate

Three HC Chief Justices to investigate Memogate

In its short order, a nine-member bench of the Supreme Court (SC) on Friday declared identical petitions in Memogate controversy as quite maintainable and formed a Judicial Commission to investigate the controversial memo issue within four weeks. Meanwhil
Published 31 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 31 Dec, 2011 12:00am
Parliamentary body decides to summon Pasha, Haqqani, Ijaz

Parliamentary body decides to summon Pasha, Haqqani, Ijaz

The Parliamentary Committee on National Security on Friday decided to summon Director General ISI Ahmed Shuja Pasha, Former Ambassador to the US Husain Haqqani and US businessmen Mansoor Ijaz to probe the Memogate scandal. The Parliamentary Committee, whi
Published 31 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 31 Dec, 2011 12:00am
Parliamentary body decides to summon Pasha, Haqqani, Ijaz

Parliamentary body decides to summon Pasha, Haqqani, Ijaz

The Parliamentary Committee on National Security on Friday decided to summon Director General ISI Ahmed Shuja Pasha, Former Ambassador to the US Husain Haqqani and US businessmen Mansoor Ijaz to probe the Memogate scandal. The Parliamentary Committee, whi
Published 31 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 30, 2011).

Published 31 Dec, 2011 12:00am
Judiciary is independent: Prime Minister

Judiciary is independent: Prime Minister

Prime Minister Yousaf Raza Gilani has said that judiciary "is independent", and the government fully respects its orders, decisions and judgements, according to official documents exclusively made available to Business Recorder.
Published 31 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 30, 2011).

Published 31 Dec, 2011 12:00am
Judiciary is independent: Prime Minister

Judiciary is independent: Prime Minister

Prime Minister Yousaf Raza Gilani has said that judiciary "is independent", and the government fully respects its orders, decisions and judgements, according to official documents exclusively made available to Business Recorder.
Published 31 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 30, 2011).

Published 31 Dec, 2011 12:00am
I was expecting at least one dissenting voice: Asma

I was expecting at least one dissenting voice: Asma

Asma Jehangir, the counsel for Husain Haqqani, expressed her profound sense of disappointment over the Supreme Court (SC) short order. "The decision of SC made me realise that civilian authority has come under the military institutions," she said and adde
Published 31 Dec, 2011 12:00am
I was expecting at least one dissenting voice: Asma

I was expecting at least one dissenting voice: Asma

Asma Jehangir, the counsel for Husain Haqqani, expressed her profound sense of disappointment over the Supreme Court (SC) short order. "The decision of SC made me realise that civilian authority has come under the military institutions," she said and adde
Published 31 Dec, 2011 12:00am
13 killed, 30 injured in Quetta blast

13 killed, 30 injured in Quetta blast

At least 13 persons were killed and 30 others injured in a car bomb blast on Arbab Karam Khan road in the provincial capital on Friday night. Police told APP that unknown armed men had planted explosive material near the house of Shafiq Mengal, the son of
Published 31 Dec, 2011 12:00am
13 killed, 30 injured in Quetta blast

13 killed, 30 injured in Quetta blast

At least 13 persons were killed and 30 others injured in a car bomb blast on Arbab Karam Khan road in the provincial capital on Friday night. Police told APP that unknown armed men had planted explosive material near the house of Shafiq Mengal, the son of
Published 31 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 30, 2011).

Published 31 Dec, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (December 30, 2011).
Published 31 Dec, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (December 30, 2011).

Published 31 Dec, 2011 12:00am
Opposition asks Prime Minister to withdraw remarks about bin Laden

Opposition asks Prime Minister to withdraw remarks about bin Laden

Opposition has asked that Prime Minister Yousuf Raza Gilani to withdraw his statement made a few days ago in the National Assembly about the presence of Osama bin Laden in Abbottabad, because "it could be used as charge-sheet" against Pakistan."
Published 31 Dec, 2011 12:00am
Opposition asks Prime Minister to withdraw remarks about bin Laden

Opposition asks Prime Minister to withdraw remarks about bin Laden

Opposition has asked that Prime Minister Yousuf Raza Gilani to withdraw his statement made a few days ago in the National Assembly about the presence of Osama bin Laden in Abbottabad, because "it could be used as charge-sheet" against Pakistan."
Published 31 Dec, 2011 12:00am
World Bank for reduction in FBR workforce

World Bank for reduction in FBR workforce

The World Bank has proposed to the Federal Board of Revenue to rationalise the number of staff and employees to improve efficiency of the tax administration under reforms. Sources told Business Recorder here on Friday that the WB mission has submit
Published 31 Dec, 2011 12:00am
World Bank for reduction in FBR workforce

World Bank for reduction in FBR workforce

The World Bank has proposed to the Federal Board of Revenue to rationalise the number of staff and employees to improve efficiency of the tax administration under reforms. Sources told Business Recorder here on Friday that the WB mission has submit
Published 31 Dec, 2011 12:00am
World Bank for reduction in FBR workforce

World Bank for reduction in FBR workforce

The World Bank has proposed to the Federal Board of Revenue to rationalise the number of staff and employees to improve efficiency of the tax administration under reforms. Sources told Business Recorder here on Friday that the WB mission has submit
Published 31 Dec, 2011 12:00am
Iran to test-fire missiles in strategic oil waterway

Iran to test-fire missiles in strategic oil waterway

Tehran said it will test-fire missiles in the Strait of Hormuz on Saturday, a move likely to stoke tensions with Washington already running high over Iran's threats to close the strategic oil waterway if sanctions are enforced. "Shorter- and longer-range,
Published 31 Dec, 2011 12:00am
Iran to test-fire missiles in strategic oil waterway

Iran to test-fire missiles in strategic oil waterway

Tehran said it will test-fire missiles in the Strait of Hormuz on Saturday, a move likely to stoke tensions with Washington already running high over Iran's threats to close the strategic oil waterway if sanctions are enforced. "Shorter- and longer-range,
Published 31 Dec, 2011 12:00am
KSE turnover down to 13-year low in calendar year 2011

KSE turnover down to 13-year low in calendar year 2011

Pakistan's equity market witnessed bearish trend during the calendar year 2011 and the KSE-100 index declined by 5.6 percent, or 674.80 points, to close at 11,347.66 points, while average daily volume fell to 13-year low of 79 million shares, the lowest s
Published 31 Dec, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (December 30, 2011).

Published 31 Dec, 2011 12:00am
KSE turnover down to 13-year low in calendar year 2011

KSE turnover down to 13-year low in calendar year 2011

Pakistan's equity market witnessed bearish trend during the calendar year 2011 and the KSE-100 index declined by 5.6 percent, or 674.80 points, to close at 11,347.66 points, while average daily volume fell to 13-year low of 79 million shares, the lowest s
Published 31 Dec, 2011 12:00am
KSE turnover down to 13-year low in calendar year 2011

KSE turnover down to 13-year low in calendar year 2011

Pakistan''s equity market witnessed bearish trend during the calendar year 2011 and the KSE-100 index declined by 5.6 percent, or 674.80 points, to close at 11,347.66 points, while average daily volume fell to 13-year low of 79 million shares, the lowest
Published 31 Dec, 2011 12:00am
APCNGA to observe strike tomorrow

APCNGA to observe strike tomorrow

All Pakistan CNG Association on Friday announced that it will observe strike on January 1, 2012 in protest against government's decision of exorbitant hike in CNG prices and imposition of ban on public and commercial vehicles using CNG.
Published 31 Dec, 2011 12:00am
APCNGA to observe strike tomorrow

APCNGA to observe strike tomorrow

All Pakistan CNG Association on Friday announced that it will observe strike on January 1, 2012 in protest against government's decision of exorbitant hike in CNG prices and imposition of ban on public and commercial vehicles using CNG.
Published 31 Dec, 2011 12:00am
APCNGA to observe strike tomorrow

APCNGA to observe strike tomorrow

All Pakistan CNG Association on Friday announced that it will observe strike on January 1, 2012 in protest against government''s decision of exorbitant hike in CNG prices and imposition of ban on public and commercial vehicles using CNG.
Published 31 Dec, 2011 12:00am
Use of CNG in public transport banned

Use of CNG in public transport banned

The Oil and Gas Regulatory Authority (Ogra) has clamped immediate ban on the use of compressed natural gas (CNG) in public transport vehicles to prevent deadly accidents, ease gas shortage and improve gas pressure. The decision was taken in a meeting head
Published 31 Dec, 2011 12:00am
Use of CNG in public transport banned

Use of CNG in public transport banned

The Oil and Gas Regulatory Authority (Ogra) has clamped immediate ban on the use of compressed natural gas (CNG) in public transport vehicles to prevent deadly accidents, ease gas shortage and improve gas pressure. The decision was taken in a meeting head
Published 31 Dec, 2011 12:00am
Use of CNG in public transport banned

Use of CNG in public transport banned

The Oil and Gas Regulatory Authority (Ogra) has clamped immediate ban on the use of compressed natural gas (CNG) in public transport vehicles to prevent deadly accidents, ease gas shortage and improve gas pressure. The decision was taken in a meeting head
Published 31 Dec, 2011 12:00am
Index sheds 88 points

Index sheds 88 points

The KSE-100 index on Friday declined by 88.01 points and closed at 11,347.66 points due to profit taking opted by both local and foreign investors. The market opened on a positive note and the index hit 11,466.22 points intra-day high. However, just after
Published 31 Dec, 2011 12:00am
Index sheds 88 points

Index sheds 88 points

The KSE-100 index on Friday declined by 88.01 points and closed at 11,347.66 points due to profit taking opted by both local and foreign investors. The market opened on a positive note and the index hit 11,466.22 points intra-day high. However, just after
Published 31 Dec, 2011 12:00am
Index sheds 88 points

Index sheds 88 points

The KSE-100 index on Friday declined by 88.01 points and closed at 11,347.66 points due to profit taking opted by both local and foreign investors. The market opened on a positive note and the index hit 11,466.22 points intra-day high. However, just after
Published 31 Dec, 2011 12:00am
BRIndex30 down 119.13 points

BRIndex30 down 119.13 points

On Friday, BRIndex30 opened at 8,382.94 points and remained negative throughout the trading session. It touched an intraday high of 8,382.94 points and an intraday low of 8,241.22 points and closed at 8,263.81 points, which was -119.13 points or -1.42 per
Published 31 Dec, 2011 12:00am
BRIndex30 down 119.13 points

BRIndex30 down 119.13 points

On Friday, BRIndex30 opened at 8,382.94 points and remained negative throughout the trading session. It touched an intraday high of 8,382.94 points and an intraday low of 8,241.22 points and closed at 8,263.81 points, which was -119.13 points or -1.42 per
Published 31 Dec, 2011 12:00am
Bearish sentiments prevail on LSE

Bearish sentiments prevail on LSE

Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday and the equities registered declines under the lead of fertiliser and banking sectors amid improved trading turnover. The LSE-30 index lost 37.86 points and was ended at 2795.59 poi
Published 31 Dec, 2011 12:00am
Bearish sentiments prevail on LSE

Bearish sentiments prevail on LSE

Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday and the equities registered declines under the lead of fertiliser and banking sectors amid improved trading turnover. The LSE-30 index lost 37.86 points and was ended at 2795.59 poi
Published 31 Dec, 2011 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 32.05 points, as the Index moved from 2,587.01 to 2,554.96 points.
Published 31 Dec, 2011 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 32.05 points, as the Index moved from 2,587.01 to 2,554.96 points.
Published 31 Dec, 2011 12:00am
Vestas says gets 50 megawatts turbine order in Pakistan

Vestas says gets 50 megawatts turbine order in Pakistan

Danish wind turbine manufacturer Vestas said on Friday it had received a 50-megawatt turbine order for a project in Pakistan. The order from Zorlu Energy Group was for 28 of Vestas' V90-1.8 MW turbines for a project in Nooriabad in the Jimphir region of P
Published 31 Dec, 2011 12:00am
Vestas says gets 50 megawatts turbine order in Pakistan

Vestas says gets 50 megawatts turbine order in Pakistan

Danish wind turbine manufacturer Vestas said on Friday it had received a 50-megawatt turbine order for a project in Pakistan. The order from Zorlu Energy Group was for 28 of Vestas' V90-1.8 MW turbines for a project in Nooriabad in the Jimphir region of P
Published 31 Dec, 2011 12:00am
Vestas says gets 50 megawatts turbine order in Pakistan

Vestas says gets 50 megawatts turbine order in Pakistan

Danish wind turbine manufacturer Vestas said on Friday it had received a 50-megawatt turbine order for a project in Pakistan. The order from Zorlu Energy Group was for 28 of Vestas'' V90-1.8 MW turbines for a project in Nooriabad in the Jimphir region of
Published 31 Dec, 2011 12:00am
North Korea's new leaders lash out at South and allies

North Korea's new leaders lash out at South and allies

North Korea sounded a bellicose note in its first communication with the outside world since the death of leader Kim Jong-il, saying its confrontational stance against South Korea would not change and labelling its opponents "foolish".
Published 31 Dec, 2011 12:00am
North Korea's new leaders lash out at South and allies

North Korea's new leaders lash out at South and allies

North Korea sounded a bellicose note in its first communication with the outside world since the death of leader Kim Jong-il, saying its confrontational stance against South Korea would not change and labelling its opponents "foolish".
Published 31 Dec, 2011 12:00am
US Saudi fighter jet sale to help offset Iran

US Saudi fighter jet sale to help offset Iran

The United States has signed a $29.4 billion deal to sell 84 new F-15 fighter jets to Saudi Arabia in a long-expected move that the Obama administration said on Thursday would boost Gulf security amid mounting tension with Iran. The deal is the single pri
Published 31 Dec, 2011 12:00am
US Saudi fighter jet sale to help offset Iran

US Saudi fighter jet sale to help offset Iran

The United States has signed a $29.4 billion deal to sell 84 new F-15 fighter jets to Saudi Arabia in a long-expected move that the Obama administration said on Thursday would boost Gulf security amid mounting tension with Iran. The deal is the single pri
Published 31 Dec, 2011 12:00am
Japan to provide Rs 9.34 billion assistance

Japan to provide Rs 9.34 billion assistance

Japan would provide Rs 9.34 billion assistance including Rs 702.34 million share of Sindh government for Rural Road Construction Project-II (Sindh). For this purpose, Sindh government has submitted PC-I (Revised) of "Japanese Assisted Rural Roads Construc
Published 31 Dec, 2011 12:00am
Japan to provide Rs 9.34 billion assistance

Japan to provide Rs 9.34 billion assistance

Japan would provide Rs 9.34 billion assistance including Rs 702.34 million share of Sindh government for Rural Road Construction Project-II (Sindh). For this purpose, Sindh government has submitted PC-I (Revised) of "Japanese Assisted Rural Roads Construc
Published 31 Dec, 2011 12:00am
Japan to provide Rs 9.34 billion assistance

Japan to provide Rs 9.34 billion assistance

Japan would provide Rs 9.34 billion assistance including Rs 702.34 million share of Sindh government for Rural Road Construction Project-II (Sindh). For this purpose, Sindh government has submitted PC-I (Revised) of "Japanese Assisted Rural Roads Construc
Published 31 Dec, 2011 12:00am
Profit rates on NSS revised

Profit rates on NSS revised

The federal government has revised the profit rates on National Savings Schemes effective from January 1, 2012 till further notification, said a press release issued here on Friday by the Central Directorate of National Savings. The new rates of profit on
Published 31 Dec, 2011 12:00am
Profit rates on NSS revised

Profit rates on NSS revised

The federal government has revised the profit rates on National Savings Schemes effective from January 1, 2012 till further notification, said a press release issued here on Friday by the Central Directorate of National Savings. The new rates of profit on
Published 31 Dec, 2011 12:00am
Profit rates on NSS revised

Profit rates on NSS revised

The federal government has revised the profit rates on National Savings Schemes effective from January 1, 2012 till further notification, said a press release issued here on Friday by the Central Directorate of National Savings. The new rates of profit on
Published 31 Dec, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 31 Dec, 2011 12:00am
National Assembly passes air carriage bill 2011

National Assembly passes air carriage bill 2011

National Assembly on Friday passed the Carriage by Air Bill, 2011 under which a carrier is liable to compensate Rs 5 million to a passenger in case of death or injury due to destruction or damage to an aeroplane.
Published 31 Dec, 2011 12:00am
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