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Archive - 2012-01-01
Mali gold revenues rise in 2011
Top News

Mali gold revenues rise in 2011

BAMAKO: Mali's gold revenues surged by more than 20 percent in 2011 to 240 billion CFA francs ($475 million) tracking a
Published 01 Jan, 2012 02:51pm
Nigeria to scrap fuel subsidies
Top News

Nigeria to scrap fuel subsidies

ABUJA: Nigerian authorities announced on Sunday that a controversial plan to scrap fuel subsidies will be effective from
Published 01 Jan, 2012 02:44pm
Powerful quake rocks Tokyo region
Asia

Powerful quake rocks Tokyo region

TOKYO: A major 7.0-magnitude earthquake rocked Tokyo Sunday, Japan's Meteorological Agency said, but there were no immed
Published 01 Jan, 2012 05:57am
South Korea parliament approves 2012 budget bill

South Korea parliament approves 2012 budget bill

South Korea's parliament approved a 2012 government budget bill late on Saturday, just half an hour before the new year began and after a near month-long delay due to disputes between the ruling and opposition parties. The 325.4 trillion won ($282.5 billi
Published 01 Jan, 2012 12:00am
Bosnia approves 2011 state budget to avoid collapse

Bosnia approves 2011 state budget to avoid collapse

Bosnia's parliament passed a state budget for 2011 on Saturday in an emergency procedure to keep the government functioning, after rival groups agreed to form an administration this week, ending an impasse dating back to an inconclusive election in 2010.
Published 01 Jan, 2012 12:00am
India's Prime Minister worried by budget deficit

India's Prime Minister worried by budget deficit

India's Prime Minister Manmohan Singh said Saturday in his New Year's message to the nation that controlling the government's budget deficit was a priority for 2012 to avert another crisis. In a lengthy address from the beleaguered premier, whose cabinet
Published 01 Jan, 2012 12:00am
Caterpillar unit rejects CAW contract extension request

Caterpillar unit rejects CAW contract extension request

Caterpillar Inc said a Canadian Auto Workers (CAW) labour contract that expires Saturday at midnight will not be extended despite the union's request for two more months of talks and a mediator. Caterpillar's Electro-Motive Canada subsidiary has been nego
Published 01 Jan, 2012 12:00am
China moving to more convertible yuan

China moving to more convertible yuan

China's central bank governor argued in comments published on Saturday that Beijing does not control the yuan's flow across borders as tightly as some think and that it is natural for the currency's trading band to be widened over time. Zhou Xiaochuan sai
Published 01 Jan, 2012 12:00am
2012 to be difficult says Merkel, but reasons for confidence

2012 to be difficult says Merkel, but reasons for confidence

Germany Chancellor Angela Merkel warned of a difficult year ahead, particularly for the eurozone, but also said there were good reasons to be confident, in New Year greetings released Saturday. "Germany is doing well, even if next year will no doubt be mo
Published 01 Jan, 2012 12:00am
Tunisia approves 2012 budget

Tunisia approves 2012 budget

Tunisia has approved a 2012 budget of 22.935 billion dinars ($15.817 billion) compared with 21.33 billion dinars in 2011, marking a 7.5 percent rise on the year, the Tunisia state news agency said on Saturday. The budget includes a forecast for economic e
Published 01 Jan, 2012 12:00am
Egypt expects tourism rebound in 2012; security key

Egypt expects tourism rebound in 2012; security key

Egypt expects tourism revenues to rebound by more than a third next year if the country's security situation improves in the wake of the uprising that toppled Hosni Mubarak in February and the subsequent political turmoil that sent tourists packing.
Published 01 Jan, 2012 12:00am
Iceland names new finance minister in government shuffle

Iceland names new finance minister in government shuffle

Iceland named a new finance minister on Saturday in a cabinet reshuffle aimed at strengthening the centre-left coalition by decreasing internal dissent. Oddny Hardardottir, the new minister, is expected to maintain policies aimed at gradually cutting the
Published 01 Jan, 2012 12:00am
Venezuela GDP grows four percent

Venezuela GDP grows four percent

Venezuela's economy grew by an estimated 4 percent in 2011 and will maintain strong growth in 2012, the central bank said Friday, expansion that may help President Hugo Chavez's bid for reelection next year. But the country's inflation rate remained stubb
Published 01 Jan, 2012 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 01 Jan, 2012 12:00am
Asia's naphtha price losses to five-session low

Asia's naphtha price losses to five-session low

Asia's naphtha extended price losses to reach a five-session low on Thursday, while cracks rebounded from a two-week low as lower Brent crude boosted the naphtha margins. Trades were muted as year-end holidays drew traders away. The naphtha arbitrage wind
Published 01 Jan, 2012 12:00am
Canadian canola futures gain

Canadian canola futures gain

ICE Canadian canola futures gained on Friday as traders adjusted year-end positions but the oilseed notched its first yearly loss in three years. Weather conditions in dry soya-growing areas of Brazil and Argentina seen determining canola's direction in e
Published 01 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 105,142 tonnes of cargo comprising 76,686 tonnes of import cargo and 28,456 tonnes of export cargo including 6,936 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 76,686 to
Published 01 Jan, 2012 12:00am
Argentine soya prices up

Argentine soya prices up

Argentina closing soya prices and trends on Friday. Soya prices in Rosario ended at between 1,245 pesos and 1,290 pesos per tonne ($298-$300) compared with between 1,230 and 1,285 pesos in the previous session. Trade was almost nil heading into the holida
Published 01 Jan, 2012 12:00am
HRW wheat bids steady

HRW wheat bids steady

Bids for hard red winter wheat in the US Plains were steady on Friday in a quiet market that was lacking offers. Farmer selling was expected to increase after January 1.lackluster market. Protein premiums for railcar wheat to and through Kansas City were
Published 01 Jan, 2012 12:00am
Wheat prices fell after eight winning sessions

Wheat prices fell after eight winning sessions

Wheat prices fell on Thursday after eight winning sessions on the Chicago futures market as global financial markets slumped due to the euro sinking to its lowest level in more than a year. Soya fell as renewed strength by the dollar hurt export prospects
Published 01 Jan, 2012 12:00am
US Midwest corn, soya bids mostly steady

US Midwest corn, soya bids mostly steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Friday as futures rallied and farmers sold small portions of their crops, mostly for delivery earlier next year, grain merchants said. Corn bids were firm at a northern Ill
Published 01 Jan, 2012 12:00am
US corn hits seven-week high as heat threatens Argentina

US corn hits seven-week high as heat threatens Argentina

US corn futures jumped to a seven-week peak on Friday, ending a volatile year with the third straight annual gain, as concerns mounted about hot, dry weather hurting output in Argentina, the No 2 exporter of the grain. Corn finished up 2.8 percent on the
Published 01 Jan, 2012 12:00am
Corn export premiums stagnant at US Gulf Coast

Corn export premiums stagnant at US Gulf Coast

Export premiums for corn at the US Gulf Coast were stagnant on Friday as demand remained lacklustre, traders said. Spot CIF basis bids and FOB basis offers were little changed from late Thursday, traders said. Export markets remained quiet, with many peop
Published 01 Jan, 2012 12:00am
Chile's November copper output down

Chile's November copper output down

Chile produced 457,981 tonnes of copper in November, down 2 percent from the same month last year, as lower ore grades hit cathode output in the world's top producer of the red metal , the government said Thursday. Output was also down compared to October
Published 01 Jan, 2012 12:00am
Rates firm on domestic cotton market

Rates firm on domestic cotton market

Prices firm at the closing session of the year 2011 on the cotton market amid brisk activity on Saturday, dealers said. The official spot rate was unchanged at Rs 5,400, they said. Prices of seed-cotton in Sindh were at Rs 1700-2300 and in the Punjab at R
Published 01 Jan, 2012 12:00am
Oil cake market rates

Oil cake market rates

Both contracts were down on the forward cottonseed oilcake market on Friday in process of trading, dealers said. The January contract that had ended at Rs 1165.10 commenced with Re.one loss at Rs 1164.10. The new March vaida which closed at 774.80 opened
Published 01 Jan, 2012 12:00am
Grain market ends year on mixed note

Grain market ends year on mixed note

Grain prices said good bye to year 2011 on mixed note on the commodity market on Saturday, dealers said. They also said that the out-going year was bad for the commodity traders due to huge losses after sharp decline in the rates and the world businessmen
Published 01 Jan, 2012 12:00am
Initiatives taken by present Government of Sindh in the Year 2011

Initiatives taken by present Government of Sindh in the Year 2011

Permanent solution of purified water in desert/arid and coastal belt areas by using most modern technologies in order to establish source of purified water on regular basis and protect people from potentially harmful water borne diseases and give them cha
Published 01 Jan, 2012 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
THE RUPEE: money market ends year on firm note

THE RUPEE: money market ends year on firm note

Firmness prevailed on the currency market on Saturday as the rupee maintained its overnight level against dollar in process of trading, dealers said. The rupee retained its last levels in relation to dollar for buying and selling at 89.90 and 90.10, they
Published 01 Jan, 2012 12:00am
THE RUPEE: money market ends year on firm note

THE RUPEE: money market ends year on firm note

Firmness prevailed on the currency market on Saturday as the rupee maintained its overnight level against dollar in process of trading, dealers said. The rupee retained its last levels in relation to dollar for buying and selling at 89.90 and 90.10, they
Published 01 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (December 31, 2011) and for Sunday (January 01, 2012).
Published 01 Jan, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (December 31, 2011).

Published 01 Jan, 2012 12:00am
The Weather

The Weather

The weather report on Saturday (December 31, 2011) and the forecast for Sunday (January 01, 2011).

Published 01 Jan, 2012 12:00am
PC underlines need to limit government borrowing

PC underlines need to limit government borrowing

The Planning Commission has underlined the need to limit government borrowings, from scheduled banks expressing, fear that the tendency of borrowing by the government would crowd out the private sector, it is learnt. Sources said that money, prices and fi
Published 01 Jan, 2012 12:00am
PC underlines need to limit government borrowing

PC underlines need to limit government borrowing

The Planning Commission has underlined the need to limit government borrowings, from scheduled banks expressing, fear that the tendency of borrowing by the government would crowd out the private sector, it is learnt. Sources said that money, prices and fi
Published 01 Jan, 2012 12:00am
PC underlines need to limit government borrowing

PC underlines need to limit government borrowing

The Planning Commission has underlined the need to limit government borrowings, from scheduled banks expressing, fear that the tendency of borrowing by the government would crowd out the private sector, it is learnt. Sources said that money, prices and fi
Published 01 Jan, 2012 12:00am
Countrywide urea supply: MoI accused of mismanagement

Countrywide urea supply: MoI accused of mismanagement

The ministry of industries (MoI) has been accused of mismanagement in supply of urea across the country, well-informed sources told Business Recorder. National Fertiliser Marketing Limited (NFML), a subsidiary of the industries ministry is responsi
Published 01 Jan, 2012 12:00am
Countrywide urea supply: MoI accused of mismanagement

Countrywide urea supply: MoI accused of mismanagement

The ministry of industries (MoI) has been accused of mismanagement in supply of urea across the country, well-informed sources told Business Recorder. National Fertiliser Marketing Limited (NFML), a subsidiary of the industries ministry is responsi
Published 01 Jan, 2012 12:00am
Countrywide urea supply: MoI accused of mismanagement

Countrywide urea supply: MoI accused of mismanagement

The ministry of industries (MoI) has been accused of mismanagement in supply of urea across the country, well-informed sources told Business Recorder. National Fertiliser Marketing Limited (NFML), a subsidiary of the industries ministry is responsi
Published 01 Jan, 2012 12:00am
Oil prices raised up to Rs 5.13 per/litre

Oil prices raised up to Rs 5.13 per/litre

The government on Saturday increased the prices of different petroleum products ranging between Rs 1.65 per litre and Rs 5.13 per litre, effective January 1. According to a notification issued here late Saturday night the government has increased the pric
Published 01 Jan, 2012 12:00am
Oil prices raised up to Rs 5.13 per/litre

Oil prices raised up to Rs 5.13 per/litre

The government on Saturday increased the prices of different petroleum products ranging between Rs 1.65 per litre and Rs 5.13 per litre, effective January 1. According to a notification issued here late Saturday night the government has increased the pric
Published 01 Jan, 2012 12:00am
Oil prices raised up to Rs 5.13 per/litre

Oil prices raised up to Rs 5.13 per/litre

The government on Saturday increased the prices of different petroleum products ranging between Rs 1.65 per litre and Rs 5.13 per litre, effective January 1. According to a notification issued here late Saturday night the government has increased the pric
Published 01 Jan, 2012 12:00am
Lack of political will behind non-implementation of RGST: World Bank

Lack of political will behind non-implementation of RGST: World Bank

The World Bank (WB) has informed the Federal Board of Revenue (FBR) that lack of political will is a major reason behind non-implementation of the 'reformed general sales tax' (RGST) or value-added tax (VAT), affecting revenue collection, in the presence
Published 01 Jan, 2012 12:00am
Lack of political will behind non-implementation of RGST: World Bank

Lack of political will behind non-implementation of RGST: World Bank

The World Bank (WB) has informed the Federal Board of Revenue (FBR) that lack of political will is a major reason behind non-implementation of the 'reformed general sales tax' (RGST) or value-added tax (VAT), affecting revenue collection, in the presence
Published 01 Jan, 2012 12:00am
Lack of political will behind non-implementation of RGST: World Bank

Lack of political will behind non-implementation of RGST: World Bank

The World Bank (WB) has informed the Federal Board of Revenue (FBR) that lack of political will is a major reason behind non-implementation of the ''reformed general sales tax'' (RGST) or value-added tax (VAT), affecting revenue collection, in the presenc
Published 01 Jan, 2012 12:00am
US in $3.5 billion arms sale to UAE amid Iran tensions

US in $3.5 billion arms sale to UAE amid Iran tensions

The United States has signed a $3.5 billion sale of an advanced antimissile interception system to the United Arab Emirates, part of an accelerating military buildup of its friends and allies near Iran. The deal, signed on December 25 and announced on Fri
Published 01 Jan, 2012 12:00am
US in $3.5 billion arms sale to UAE amid Iran tensions

US in $3.5 billion arms sale to UAE amid Iran tensions

The United States has signed a $3.5 billion sale of an advanced antimissile interception system to the United Arab Emirates, part of an accelerating military buildup of its friends and allies near Iran. The deal, signed on December 25 and announced on Fri
Published 01 Jan, 2012 12:00am
Key events of 2011

Key events of 2011

Turmoil in the Arab world, deepening crisis on financial markets, disaster in Japan and the end of the line for Osama bin Laden: here is a panorama of world events in 2011.
Published 01 Jan, 2012 12:00am
Key events of 2011

Key events of 2011

Turmoil in the Arab world, deepening crisis on financial markets, disaster in Japan and the end of the line for Osama bin Laden: here is a panorama of world events in 2011.
Published 01 Jan, 2012 12:00am
CNG pumps to remain shut in twin cities today

CNG pumps to remain shut in twin cities today

The owners of CNG station have announced to keep their pumps closed in twin cities of Rawalpindi and Islamabad on Sunday (today) as All Pakistan CNG Association (APCNGA) has decided to go on a strike in protest against the federal government's decision to
Published 01 Jan, 2012 12:00am
CNG pumps to remain shut in twin cities today

CNG pumps to remain shut in twin cities today

The owners of CNG station have announced to keep their pumps closed in twin cities of Rawalpindi and Islamabad on Sunday (today) as All Pakistan CNG Association (APCNGA) has decided to go on a strike in protest against the federal government's decision to
Published 01 Jan, 2012 12:00am
CNG pumps to remain shut in twin cities today

CNG pumps to remain shut in twin cities today

The owners of CNG station have announced to keep their pumps closed in twin cities of Rawalpindi and Islamabad on Sunday (today) as All Pakistan CNG Association (APCNGA) has decided to go on a strike in protest against the federal government''s decision t
Published 01 Jan, 2012 12:00am
Dry spell: 1.5-2 million tons of wheat may be lost

Dry spell: 1.5-2 million tons of wheat may be lost

Pakistan is likely to lose 1.5-2 million tons of wheat during FY12 if the dry spell continues in January. Well-placed sources told Business Recorder on Saturday that due to high prices of fertilisers such as urea in the local market, farmers have r
Published 01 Jan, 2012 12:00am
Dry spell: 1.5-2 million tons of wheat may be lost

Dry spell: 1.5-2 million tons of wheat may be lost

Pakistan is likely to lose 1.5-2 million tons of wheat during FY12 if the dry spell continues in January. Well-placed sources told Business Recorder on Saturday that due to high prices of fertilisers such as urea in the local market, farmers have r
Published 01 Jan, 2012 12:00am
Dry spell: 1.5-2 million tons of wheat may be lost

Dry spell: 1.5-2 million tons of wheat may be lost

Pakistan is likely to lose 1.5-2 million tons of wheat during FY12 if the dry spell continues in January. Well-placed sources told Business Recorder on Saturday that due to high prices of fertilisers such as urea in the local market, farmers have r
Published 01 Jan, 2012 12:00am
Five export-oriented sectors: FBR announces new ST zero-rating regime

Five export-oriented sectors: FBR announces new ST zero-rating regime

The Federal Board of Revenue (FBR) on Saturday announced a new sales tax zero-rating regime for five export-oriented sectors including textile, leather, surgical, carpets and sports goods and a simplified sales tax payment procedure for the commercial imp
Published 01 Jan, 2012 12:00am
Five export-oriented sectors: FBR announces new ST zero-rating regime

Five export-oriented sectors: FBR announces new ST zero-rating regime

The Federal Board of Revenue (FBR) on Saturday announced a new sales tax zero-rating regime for five export-oriented sectors including textile, leather, surgical, carpets and sports goods and a simplified sales tax payment procedure for the commercial imp
Published 01 Jan, 2012 12:00am
Five export-oriented sectors: FBR announces new ST zero-rating regime

Five export-oriented sectors: FBR announces new ST zero-rating regime

The Federal Board of Revenue (FBR) on Saturday announced a new sales tax zero-rating regime for five export-oriented sectors including textile, leather, surgical, carpets and sports goods and a simplified sales tax payment procedure for the commercial imp
Published 01 Jan, 2012 12:00am
Five export-oriented sectors: FBR announces new ST zero-rating regime

Five export-oriented sectors: FBR announces new ST zero-rating regime

The Federal Board of Revenue (FBR) on Saturday announced a new sales tax zero-rating regime for five export-oriented sectors including textile, leather, surgical, carpets and sports goods and a simplified sales tax payment procedure for the commercial imp
Published 01 Jan, 2012 12:00am
Somalis protest US banks' halt of money transfers

Somalis protest US banks' halt of money transfers

Hundreds from the largest Somali population in the United States demonstrated over a bank's decision to stop handling money transfers that they say relatives in their famine-stricken homeland need to survive. Somalia has not had a functioning government s
Published 01 Jan, 2012 12:00am
Khyber Pakhtunkhwa CNG stations to go on indefinite strike

Khyber Pakhtunkhwa CNG stations to go on indefinite strike

The KP CNG Stations' Association has given call for going on strike for indefinite period and vowed its continuation till the acceptance of their demands including the withdrawal of ban on import of CNG kits, cylinders and filling of gas in commercial veh
Published 01 Jan, 2012 12:00am
Iran refusing to fuel European, Arab airlines

Iran refusing to fuel European, Arab airlines

Iran is refusing to refuel some European and Arab airlines at its main international airport in a tit-for-tat move over major oil companies denying fuel to Iranian planes abroad, the airport's chief said Saturday. "Government directives" ordered the ban,
Published 01 Jan, 2012 12:00am
Iran refusing to fuel European, Arab airlines

Iran refusing to fuel European, Arab airlines

Iran is refusing to refuel some European and Arab airlines at its main international airport in a tit-for-tat move over major oil companies denying fuel to Iranian planes abroad, the airport's chief said Saturday. "Government directives" ordered the ban,
Published 01 Jan, 2012 12:00am
Iran refusing to fuel European, Arab airlines

Iran refusing to fuel European, Arab airlines

Iran is refusing to refuel some European and Arab airlines at its main international airport in a tit-for-tat move over major oil companies denying fuel to Iranian planes abroad, the airport''s chief said Saturday. "Government directives" ordered the ban,
Published 01 Jan, 2012 12:00am
Bomb kills two soldiers in Miranshah

Bomb kills two soldiers in Miranshah

A bomb ripped through a military vehicle on Saturday killing two soldiers in Miranshah, a security official said. The remote-controlled bomb planted on a roadside hit a patrol party leading a convoy of security forces at Boya village, some 20 kilometres w
Published 01 Jan, 2012 12:00am
Pakistan to assume its seat on powerful UNSC today

Pakistan to assume its seat on powerful UNSC today

Pakistan will assume its seat on the UN Security Council, the world body's power centre, today (January 1, 2012) as a non-permanent member for a two-year term. Pakistan was elected to 15-nation Council in a hard fought contest last October when 129 out of
Published 01 Jan, 2012 12:00am
Pakistan to assume its seat on powerful UNSC today

Pakistan to assume its seat on powerful UNSC today

Pakistan will assume its seat on the UN Security Council, the world body's power centre, today (January 1, 2012) as a non-permanent member for a two-year term. Pakistan was elected to 15-nation Council in a hard fought contest last October when 129 out of
Published 01 Jan, 2012 12:00am
Press conference by Babar: hearing on January 4

Press conference by Babar: hearing on January 4

Chief Justice Iftikhar Muhammad Chaudhry on Saturday fixed the hearing of a matter relating to a press conference of Babar Awan that he addressed along with two other PPP ministers for January 4, 2012. At the press conference, Awan reportedly denounced th
Published 01 Jan, 2012 12:00am
Press conference by Babar: hearing on January 4

Press conference by Babar: hearing on January 4

Chief Justice Iftikhar Muhammad Chaudhry on Saturday fixed the hearing of a matter relating to a press conference of Babar Awan that he addressed along with two other PPP ministers for January 4, 2012. At the press conference, Awan reportedly denounced th
Published 01 Jan, 2012 12:00am
ISE elects five new member-directors

ISE elects five new member-directors

The general body of Islamabad Stock Exchange (ISE) has elected five member-directors for the year 2012 through election at 24th Extraordinary General Meeting of ISE held on December 31, 2011. The elected directors include Zahid Latif Khan, Farrukh Younas
Published 01 Jan, 2012 12:00am
ISE elects five new member-directors

ISE elects five new member-directors

The general body of Islamabad Stock Exchange (ISE) has elected five member-directors for the year 2012 through election at 24th Extraordinary General Meeting of ISE held on December 31, 2011. The elected directors include Zahid Latif Khan, Farrukh Younas
Published 01 Jan, 2012 12:00am
ISE elects five new member-directors

ISE elects five new member-directors

The general body of Islamabad Stock Exchange (ISE) has elected five member-directors for the year 2012 through election at 24th Extraordinary General Meeting of ISE held on December 31, 2011. The elected directors include Zahid Latif Khan, Farrukh Younas
Published 01 Jan, 2012 12:00am
Misunderstandings being created: Prime Minister

Misunderstandings being created: Prime Minister

Prime Minister Yousuf Raza Gilani said here that misunderstandings were being created about clash of institutions. Speaking to a gathering at Muhammad Wala bridge after its inauguration on Saturday, he said that 'political orphans' were coming on TV and c
Published 01 Jan, 2012 12:00am
Obama signs Iran sanctions into law

Obama signs Iran sanctions into law

US President Barack Obama Saturday signed into law tough new sanctions targeting Iran's central bank and financial sector, in a move likely to deepen acrimony between Washington and Tehran. The measures, meant to punish the Islamic Republic for its nuclea
Published 01 Jan, 2012 12:00am
Obama signs Iran sanctions into law

Obama signs Iran sanctions into law

US President Barack Obama Saturday signed into law tough new sanctions targeting Iran's central bank and financial sector, in a move likely to deepen acrimony between Washington and Tehran. The measures, meant to punish the Islamic Republic for its nuclea
Published 01 Jan, 2012 12:00am
KPC elections: democrats' panel makes a clean sweep

KPC elections: democrats' panel makes a clean sweep

Democrats' panel swept the Karachi Press Club (KPC) annual elections held here on Saturday. According to results announced by the election committee, Tahir Hassan Khan was elected President (494 votes); Fazil Jamilee vice president (473 votes); Rizwan Bha
Published 01 Jan, 2012 12:00am
KPC elections: democrats' panel makes a clean sweep

KPC elections: democrats' panel makes a clean sweep

Democrats' panel swept the Karachi Press Club (KPC) annual elections held here on Saturday. According to results announced by the election committee, Tahir Hassan Khan was elected President (494 votes); Fazil Jamilee vice president (473 votes); Rizwan Bha
Published 01 Jan, 2012 12:00am
'Energy crisis is a planned conspiracy against industry'

'Energy crisis is a planned conspiracy against industry'

The leaders of the Textile Associations have stated that the energy crisis in Pakistan is a planned conspiracy against industry, business and economy of the country. On the one hand India is being given most favoured nation status and opened border for tr
Published 01 Jan, 2012 12:00am
No increase in passport fee: Rehman

No increase in passport fee: Rehman

Interior Minister Rehman Malik on Saturday dispelled the rumours that the fee for passport was being increased saying it would remain unchanged at Rs 2100. The interior minister was talking to newsmen at Karachi Airport. He said the government would compl
Published 01 Jan, 2012 12:00am
SHO beaten up to death

SHO beaten up to death

SHO Hadiara was allegedly tortured to death by people at Gowind village of Hadiara here on Saturday. According to SP Cantonment Hashmat Kamal, SHO Mian Muhammad Arshad alongwith police party reached the spot on receiving call on 15 about land grabbing. Wh
Published 01 Jan, 2012 12:00am
Gas curtailment: 'Textile sector faces ruination'

Gas curtailment: 'Textile sector faces ruination'

Slamming the government's policy on gas supply, Value-added Textile Forum on Saturday said this policy is ruining the already overburdened textile export sector. "The policy of the government relating to gas is unfortunately ruining the already overburden
Published 01 Jan, 2012 12:00am
Some elements raising deceiving slogans: Farzana

Some elements raising deceiving slogans: Farzana

Federal Minister and Benazir Income Support Programme Chairperson, Farzana Raja has said that some people have made 'welfare of people' a cliché after retirement and living a lavish and luxurious life, such elements cannot deceive the people of Pakistan b
Published 01 Jan, 2012 12:00am
Musharraf felicitates Pakistanis on new year

Musharraf felicitates Pakistanis on new year

Former President and APML Chief Pervez Musharraf has felicitated the people of Pakistan on advent of the new year. In his message the former President said that while welcoming the New Year, Pakistanis should not forget the sacrifices of the martyrs who h
Published 01 Jan, 2012 12:00am
LERA elections for year 2012 held

LERA elections for year 2012 held

Lahore Education Reporters Association (LERA) elections for the year 2012 were held at Punjab University on Saturday, which elected Mansoor Malik of Dawn as President, Sajjad Kazmi of Ausaf as Vice President, Azhar Maqbool as General Secretary, Zaheer Abb
Published 01 Jan, 2012 12:00am
'No possibility of early polls in country'

'No possibility of early polls in country'

Pakistan Muslim League-Q (PML-Q) President Chaudhry Shujaat Hussein has ruled out any possibility of early polls in the country saying Election Commission of Pakistan was not prepared to hold the mid-term general elections. Talking to reporters on Saturda
Published 01 Jan, 2012 12:00am
120th convocation of Punjab University held

120th convocation of Punjab University held

120th Convocation of Punjab University was held here on Saturday. Vice Chancellor, PU Professor Dr Mujahid Kamran was the chief guest on the occasion. Addressing the ceremony, he said the only reason behind all national crises is lack of education. He sai
Published 01 Jan, 2012 12:00am
Disaster management

Disaster management

Some sections of the media have reported that the Asian Development Bank (ADB) has warned of more floods like the ones witnessed these last two years if the government does not take immediate and long-term steps to control the situation. The ADB has also
Published 01 Jan, 2012 12:00am
Fate of PTDC

Fate of PTDC

As 2011 draws to a close, a year which was declared "Year of Tourism", it is but an irony that the Pakistan Tourism Development Corporation (PTDC) is seeking help from government to keep it afloat. The PTDC has unfortunately joined the ranks of other stat
Published 01 Jan, 2012 12:00am
Trade unionism and change - I

Trade unionism and change - I

Trade unionism is an organised movement meant to protect and promote the interests of the working class. Trade unions are a potent force in most industrially developed as well as developing countries. Their role and character has been continuously changin
Published 01 Jan, 2012 12:00am
President steals the show

President steals the show

Demonstrating the iron resolve typical of a leader elected by heavy mandate from all the provinces, President Asif Ali Zardari stole the show at Garhi Khuda Bakhsh on the eve of Shaheed Benazir Bhutto's fourth death anniversary and proved to the people of
Published 01 Jan, 2012 12:00am
Good out of bad

Good out of bad

We must accept that whenever we have any thing bad there will be something, which we will get good out of. Few are the following instances: We curse electricity's high rate and loadshedding which is bad but we forget that there is good in it for example:
Published 01 Jan, 2012 12:00am
Dry/cold weather forecast

Dry/cold weather forecast

The Met Office on Saturday forecast mainly dry/cold weather is expected in most parts of the country in the next 24 hours. In the daily weather summary, the office said "continental air prevailing over most parts of the country". It said foggy/misty condi
Published 01 Jan, 2012 12:00am
UBL Funds interim pay-out announced

UBL Funds interim pay-out announced

Chief Executive UBL, under the authority of the board of directors of the bank's Fund Managers Limited, has announced an interim pay-out for the period ended December 22, 2011 from UBL Liquidity Plus Fund & UBL Government Securities Fund. The following in
Published 01 Jan, 2012 12:00am
UBL Funds interim pay-out announced

UBL Funds interim pay-out announced

Chief Executive UBL, under the authority of the board of directors of the bank's Fund Managers Limited, has announced an interim pay-out for the period ended December 22, 2011 from UBL Liquidity Plus Fund & UBL Government Securities Fund. The following in
Published 01 Jan, 2012 12:00am
Gas supply to industrial sector on 'special priority' demanded

Gas supply to industrial sector on 'special priority' demanded

Slamming the government's policy on gas cuts, the value-added Textile Forum on Saturday said it is "ruining" the already over burdened textile export sector. "The policy of the government relating to gas is unfortunately ruining the already over burdened
Published 01 Jan, 2012 12:00am
'HCCI's diplomatic relations improved during 2011'

'HCCI's diplomatic relations improved during 2011'

Chairman sub committee for deployment, HCCI, Saleem A. Shaikh, while addressing a meeting, has said that diplomatic relations of the chamber have been improved under the leadership and international fame of HCCI president, Goharullah and the positive effe
Published 01 Jan, 2012 12:00am
KCC&I & SMEDA to set up help line for SMEs

KCC&I & SMEDA to set up help line for SMEs

The Small and Medium Enterprises Development Authority (SMEDA) with the support of United Nations Development Programme (UNDP) launched the "Right To Do Business" project at Karachi Chamber of Commerce and Industry (KCC&I) to strengthen the street vendors
Published 01 Jan, 2012 12:00am
Four alleged Punjabi taliban arrested

Four alleged Punjabi taliban arrested

Crime Investigation Department (CID) of Sindh Police on Saturday claimed to have arrested four militants including Sindh Chief of banned outfit Punjabi Taliban, Ustad Aslam group and recovered huge cache of high explosive, suicide jackets and weapons. Add
Published 01 Jan, 2012 12:00am
Nawaz vows to bring revolution for betterment of masses

Nawaz vows to bring revolution for betterment of masses

PML-N President and former Prime Minister Nawaz Sharif Saturday vowed to bring revolution in the country for betterment of people by changing the system of governance in transparent manner. Addressing huge rally organised by PML-N here, he said "corruptio
Published 01 Jan, 2012 12:00am
'China and Pakistan great friends'

'China and Pakistan great friends'

Wang Jianzhong Vice-Director Zibo Municipal Foreign Affairs Office Zibo, Shandong, China, said that China and Pakistan are good neighbouring historical great friends and people of China cherish the friendship between the two countries. He was speaking in
Published 01 Jan, 2012 12:00am
Explosives recovered in Quetta

Explosives recovered in Quetta

Police on Saturday recovered explosive material at a place near the building which was destroyed in a car bomb blast here on Friday night on Arbab Karam Khan Road. When contacted PS Sariab, a police official confirmed that some explosive material was reco
Published 01 Jan, 2012 12:00am
Gohar for removal of petroleum levy

Gohar for removal of petroleum levy

Group leader All Pakistan Textile Mills Association (APTMA) Gohar Ejaz said on Saturday that the government should remove petroleum levy immediately and divert 300MMCFD gas to textile industry and IPPs equally. Addressing a press conference at the APTMA P
Published 01 Jan, 2012 12:00am
Mall Road: body formed to enforce ban on public gatherings

Mall Road: body formed to enforce ban on public gatherings

Senior Advisor to Chief Minister, Sardar Zulfiqar Ali Khan Khosa has said that a five-member sub-committee has been constituted for implementation of orders of Lahore High Court regarding complete ban on public meetings and processions on Mall Road. The s
Published 01 Jan, 2012 12:00am
APP reporter Yousuf Pirzada laid to rest

APP reporter Yousuf Pirzada laid to rest

Yousuf Pirzada, a reporter of Associated Press of Pakistan (APP) Karachi's Urdu Section, who died in a road accident here on Friday, was laid to rest at a local graveyard on Saturday. Earlier, his funeral prayers were offered near his residence here in Sa
Published 01 Jan, 2012 12:00am
6,681 killed in 2,782 terror attacks in 2011

6,681 killed in 2,782 terror attacks in 2011

A total of 2,782 militant, insurgent and sectarian related-terrorist's attacks were reported across the country in 2011 in which around 6,681 people were killed. The figure was taken after counting casualties caused by terrorist attacks, military operatio
Published 01 Jan, 2012 12:00am
Crime rate significantly decreased in Islamabad

Crime rate significantly decreased in Islamabad

The crime rate in the federal capital during the year 2011 decreased significantly and recovery rate of narcotics, weapons and looted items increased, data revealed. According to the data obtained from different sources including police stations 6,548 cas
Published 01 Jan, 2012 12:00am
Gas crisis: LCCI convenes meeting of all chambers tomorrow

Gas crisis: LCCI convenes meeting of all chambers tomorrow

The Lahore Chamber of Commerce and Industry (LCCI) has convened an emergent meeting of all the chambers of commerce and industry in Punjab on gas crisis on January 2 (tomorrow). The LCCI President Irfan Qaiser Sheikh, while expressing his concern over the
Published 01 Jan, 2012 12:00am
Health, education sectors: sufficient allocation of funds demanded

Health, education sectors: sufficient allocation of funds demanded

Speakers at a seminar urged the government to allocate sufficient funds for education, health and social development sectors by slashing defence budget. The seminar was organised under the auspices of Aman Ittihad at Peshawar Press Club on Saturday.
Published 01 Jan, 2012 12:00am
Year 2011 was a nightmare for Karachiites

Year 2011 was a nightmare for Karachiites

The year 2011 had emerged as a nightmare for Karachiities who endured several terrorist attacks and intense targeted killings which claimed over 1,350 lives, including seven Ranger personnel, two policemen and secret agency personnel. According to statist
Published 01 Jan, 2012 12:00am
APCNGA rejects restrictions on CNG stations

APCNGA rejects restrictions on CNG stations

The All Pakistan CNG Association (APCNGA) has rejected the government decision to restrict CNG stations for refuelling public and commercial transport vehicles. According to the letter issued by the Oil & Gas Regulatory Authority (Ogra), the APCNGA has be
Published 01 Jan, 2012 12:00am
Celebrations of Bhitai's Urs from January 9

Celebrations of Bhitai's Urs from January 9

Three-day 268th annual Urs celebrations of great mystic poet and saint Hazrat Shah Abdul Latif Bhitai will commence with traditional enthusiasm, and reverence from January 9 at Bhitshah district Matiari. The historical Bhitshah town will be the host of te
Published 01 Jan, 2012 12:00am
SRB collected over Rs 11 billion in five months of 2011

SRB collected over Rs 11 billion in five months of 2011

Despite limited manpower and other facilities, the Sindh Revenue Board (SRB) collected more than Rs 11 billion during the five months of 2011 under the head of sales tax on services. Official sources told Business Recorder on Saturday that Sindh Re
Published 01 Jan, 2012 12:00am
Foggy season: police asked to take concrete steps towards safety

Foggy season: police asked to take concrete steps towards safety

Fog is natural phenomenon beyond human control but damage to human life and property can be prevented by taking better measures within our control said DIG National Highways and Motorway Police N-5 Central Dr Muhammad Shafique, while directing the officer
Published 01 Jan, 2012 12:00am
Latam forex logs steep losses in 2011

Latam forex logs steep losses in 2011

Mexico's peso strengthened in thin holiday volume on Friday, but was on track to end 2011 with a 12 percent decline against the dollar, with little in sight that will relieve pressure on emerging market currencies. Market players, wary of taking positions
Published 01 Jan, 2012 12:00am
Three-month dollar Libor steady at highest since June 2009

Three-month dollar Libor steady at highest since June 2009

US dollar-denominated interbank lending rates held steady on Friday, pausing from a near-relentless trek higher as worries over the European debt crisis undermine banks' trust in lending to one another. Three-month dollar-denominated London Interbank Offe
Published 01 Jan, 2012 12:00am
Excess cash keeps Euribor rates down

Excess cash keeps Euribor rates down

Key euro zone bank-to-bank lending rates continued their downward march on Friday, pushed down by a funding glut after banks took almost half a trillion euros at the European Central Bank's first-ever injection of three-year liquidity. Euro zone banks rec
Published 01 Jan, 2012 12:00am
Turkish lira

Turkish lira

The Turkish lira firmed as far as 1.8510 against the dollar on Friday after the central bank sold dollars on the forex market, but subsequently surrendered much of its gains while stocks weakened a touch. The lira traded at 1.8860 per dollar, still sharpl
Published 01 Jan, 2012 12:00am
Euro hits 10-year low versus yen, more trouble seen in 2012

Euro hits 10-year low versus yen, more trouble seen in 2012

The euro capped off the most tumultuous year in its short history on Friday, slipping to a 10-year trough below 100 yen and struggling to hold gains against the dollar, a trend traders expect to continue in 2012. The euro fell 0.9 percent to 99.77 yen and
Published 01 Jan, 2012 12:00am
Speculators boost dollar bets, euro shorts hit record

Speculators boost dollar bets, euro shorts hit record

Currency speculators boosted bets against the euro to a record high in the latest week and built up the biggest long dollar position since mid-2010, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net long po
Published 01 Jan, 2012 12:00am
Canadian dollar rallies, better year ahead

Canadian dollar rallies, better year ahead

The Canadian dollar rallied into the end of 2011, albeit in holiday-thinned volume, heralding what many analysts believe will be a better year for the economic growth-sensitive currency in 2012. Canada was a mediocre performer among G10 currencies in 2011
Published 01 Jan, 2012 12:00am
Limited ammunition, inflation hinder India's rupee defence

Limited ammunition, inflation hinder India's rupee defence

India's central bank is being forced to forsake the rupee at record lows not merely by a shortage of ammunition to defend the currency but also by a compulsion to relieve stresses in the local debt market. The Reserve Bank of India's hands-off approach is
Published 01 Jan, 2012 12:00am
Weak demand pushes rice prices down further in Asia

Weak demand pushes rice prices down further in Asia

Asian rice prices dropped further this week due to thin demand ahead of the year-end holidays, but intervention by the Thai government and Vietnam's industry association was likely to limit the falls, traders said on Wednesday. The price of Thailand's ben
Published 01 Jan, 2012 12:00am
Bangladesh issues tender for 25,000 tonnes of sugar

Bangladesh issues tender for 25,000 tonnes of sugar

Bangladesh Sugar and Food Industries Corporation has issued an international tender to import 25,000 tonnes of refined sugar as part of efforts to build reserves, an official with the corporation said on Friday. The last date of submission of offers is Fe
Published 01 Jan, 2012 12:00am
Commodity markets end 2011 with a whimper

Commodity markets end 2011 with a whimper

Global commodity prices mostly fell last year on worries that the ongoing eurozone debt crisis and a potential global economic slowdown would hammer demand for raw materials. "Commodity prices are ending 2011 with a whimper," said Capital Economics analys
Published 01 Jan, 2012 12:00am
US gold's 10 percent gain in 2011 extends run to 11th year

US gold's 10 percent gain in 2011 extends run to 11th year

Gold rose 1 percent on Friday, rebounding from losses earlier this week that sent the market briefly into bear territory, and the metal sealed its 11th consecutive year of gains. Bullion posted a gain of 10 percent for 2011, its smallest annual rise in th
Published 01 Jan, 2012 12:00am
China sells cargo of tyre grade from warehouse; Thai RSS3 steady

China sells cargo of tyre grade from warehouse; Thai RSS3 steady

China sold some cargoes of tyre grade from the country's bonded warehouse to ease inventory, while a few deals for forward shipments were struck in the last trading week of the year, dealers said on Wednesday. Thai RSS3 changed hands at $3.36 a kg without
Published 01 Jan, 2012 12:00am
Argentine corn planting halted by dryness

Argentine corn planting halted by dryness

Argentine farmers have halted 2011/12 corn planting due to dry soils, the Buenos Aires Grains Exchange said on Thursday, exacerbating worries that low supplies could fuel higher world grains prices in 2012. Dryness related to the La Nina phenomenon has be
Published 01 Jan, 2012 12:00am
Thai raw sugar premiums hardly move; India awaits buyers

Thai raw sugar premiums hardly move; India awaits buyers

Thai raw sugar premiums hardly moved this week and Indian whites were unchanged at around $600 as physical trading slowed to a trickle ahead of year-end holidays, but sellers still noted inquires for nearby shipment, dealers said on Tuesday.
Published 01 Jan, 2012 12:00am
Cameroon raises cotton price to curb smuggling

Cameroon raises cotton price to curb smuggling

Cameroon state firm SODECOTTON has increased farmgate raw cotton price by 27.5 percent for the current harvest in an effort to dissuade farmers from smuggling their produce to neighbouring Nigeria, a spokesman said on Wednesday. SODECOTTON said it will pa
Published 01 Jan, 2012 12:00am
Vietnam's coffee supply squeeze to perk up global prices

Vietnam's coffee supply squeeze to perk up global prices

Global coffee prices may surge early next year as tighter bank lending in top robusta producer Vietnam chokes off cash to exporters, cutting supply and pushing up premiums even as the harvest rolls in. London robusta prices could rise by about 10-20 perce
Published 01 Jan, 2012 12:00am
Iraq celebrates US withdrawal, 'dawn of a new day'

Iraq celebrates US withdrawal, 'dawn of a new day'

Prime Minister Nuri al-Maliki declared a new dawn on Saturday as Iraq celebrated the departure of American troops at a ceremony held amid tight security and without Maliki's key political rivals. Iraq was engulfed in its worst political crisis in a year a
Published 01 Jan, 2012 12:00am
Five anti-Qaeda fighters killed

Five anti-Qaeda fighters killed

A gun attack early Saturday morning on a checkpoint manned by anti-Qaeda militiamen in central Iraq left five of them dead, security and medical officials said. Attackers struck the Sahwa checkpoint in Khan Beni Saad, 40 kilometres (25 miles) north of Bag
Published 01 Jan, 2012 12:00am
Sydney rings in New Year with spectacular fireworks

Sydney rings in New Year with spectacular fireworks

Spectacular fireworks burst over Sydney Harbour to ring in the New Year at midnight, kicking off noisy celebrations for billions around the world to mark the end of 2011. Sydney's harbour erupted in a blaze of colour and light on the stroke of midnight wi
Published 01 Jan, 2012 12:00am
Dozens arrested in Russia New Year protests

Dozens arrested in Russia New Year protests

Russian riot police arrested dozens of people on Saturday in Moscow and Saint Petersburg who tried to stage unsanctioned New Year's Eve protests against 12 years of Vladimir Putin's dominant rule. The show of police force marked the first time the authori
Published 01 Jan, 2012 12:00am
Syrian opposition fears failure of Arab mission

Syrian opposition fears failure of Arab mission

The Syrian opposition is pessimistic about the chances that Arab League monitors now visiting the country can halt President Bashar al-Assad's 9-month crackdown on anti-government protest, activists said on Saturday. There is little faith in the ability o
Published 01 Jan, 2012 12:00am
Nigeria declares state of emergency in troubled areas

Nigeria declares state of emergency in troubled areas

Nigerian President Goodluck Jonathan on Saturday declared a state of emergency in areas hard hit by violence blamed on Islamist sect Boko Haram and ordered the closure of part of the country's borders. He announced the measures after branding Boko Haram a
Published 01 Jan, 2012 12:00am
Ethiopian, Somali troops take key city

Ethiopian, Somali troops take key city

Ethiopian troops and Somali government forces seized control of a key Somali city Saturday after battling Islamist rebels on the outskirts, leaving at least 18 dead, sources said. The city, Beledweyne, lies some 30 kilometres (20 miles) from the Ethiopian
Published 01 Jan, 2012 12:00am
Karzai welcomes US 'Taliban not our enemy' remarks

Karzai welcomes US 'Taliban not our enemy' remarks

Afghan President Hamid Karzai Saturday welcomed US Vice President Joe Biden's remarks that the Taliban "per se is not our enemy". Biden's comments to Newsweek magazine last week caused uproar in the US, which has been fighting a 10-year war against the Ta
Published 01 Jan, 2012 12:00am
Iran delays missile test; ready for nuclear talks

Iran delays missile test; ready for nuclear talks

Iran said it had delayed promised long-range missile tests in the Gulf on Saturday and signalled it was ready for fresh talks with the West on its disputed nuclear programme. Iran's state media initially reported early on Saturday that long-range missiles
Published 01 Jan, 2012 12:00am
EU open to talks with Iran, without preconditions

EU open to talks with Iran, without preconditions

The European Union is open to meaningful talks with Tehran provided there are no preconditions on the Iranian side, an EU foreign policy spokesman said on Saturday. Earlier, Iran's semi-official Mehr news agency quoted a senior official as saying that Ira
Published 01 Jan, 2012 12:00am
Afghan forces take control in former Taliban hotspots

Afghan forces take control in former Taliban hotspots

Nato-led forces have handed over responsibility for security to Afghan control in three former Taliban strongholds in the restive Helmand province, the provincial governor's office said Saturday. Afghan security forces took control of Nad Ali, Nawa and Ma
Published 01 Jan, 2012 12:00am
Swiss minister says US tax deal needs time

Swiss minister says US tax deal needs time

Switzerland and the United States need more time to negotiate a tax deal, Swiss finance minister Eveline Widmer-Schlumpf told Swiss radio on Saturday, as the United States pushes for it to supply information on bank clients who are alleged to have evaded
Published 01 Jan, 2012 12:00am
Los Angeles cars, homes ablaze in massive arson spree

Los Angeles cars, homes ablaze in massive arson spree

Police in Los Angeles, with help from federal investigators, were searching Saturday for one or more suspects said to have set more than 30 vehicle fires in one of the worst arson sprees in city history. Fire officials said they have responded to some 30
Published 01 Jan, 2012 12:00am
Britain orders review of breast implant safety

Britain orders review of breast implant safety

Britain is looking into new evidence about the risks from breast implants made by a now-closed French firm at the heart of a global health scare, the government said on Saturday. The French government has already advised the 30,000 women in France who bou
Published 01 Jan, 2012 12:00am
Chinese bus driver infected with bird flu dies

Chinese bus driver infected with bird flu dies

A Chinese bus driver who tested positive for the H5N1 bird flu virus died Saturday in a city bordering Hong Kong, health officials said, in the country's first reported case of the disease in humans in 18 months. The man surnamed Chen died in the wealthy
Published 01 Jan, 2012 12:00am
Wall Street back at Square One, with S&P flat in 2011

Wall Street back at Square One, with S&P flat in 2011

For the US stock market, 2011 was a long wild ride to nowhere. The broad S&P 500 endured huge daily swings but a year of drama left the index almost where it started. It lost a mere 0.003 percent, closest to unchanged since 1947, according to Standard & P
Published 01 Jan, 2012 12:00am
Treasuries end 2011 near all-time low

Treasuries end 2011 near all-time low

US Treasury debt yields ended 2011 near all-time lows, as prices rallied on Friday in a shortened session and the last trading day of the year. Benchmark 10-year notes began the year trading well above 3 percent, and in September dipped to 1.67 percent to
Published 01 Jan, 2012 12:00am
Treasuries end 2011 near all-time low

Treasuries end 2011 near all-time low

US Treasury debt yields ended 2011 near all-time lows, as prices rallied on Friday in a shortened session and the last trading day of the year. Benchmark 10-year notes began the year trading well above 3 percent, and in September dipped to 1.67 percent to
Published 01 Jan, 2012 12:00am
SocGen's China fund JV suspends IPO participation

SocGen's China fund JV suspends IPO participation

Societe Generale's Chinese fund venture will temporarily suspend participation in initial public offerings in the country, a rare move by an institutional investor that highlights the recent high pricing of many mainland IPOs. Fortune SGAM Fund Management
Published 01 Jan, 2012 12:00am
Latam stocks end year down

Latam stocks end year down

Latin American stocks edged upward in a session marked by thin volume on Friday as investors closed their books and warily eyed 2012. The MSCI Latin American stock index added 0.05 percent, though the index was down about 21 percent for the year after fea
Published 01 Jan, 2012 12:00am
ADR index ends 2011 with double-digit loss

ADR index ends 2011 with double-digit loss

US-listed shares of overseas companies finished 2011 with double-digit losses on Friday in the worst yearly performance since 2008, with Latin American ADRs among the biggest losers. The BNY Mellon index of leading American Depository Receipts posted loss
Published 01 Jan, 2012 12:00am
European IPOs may need big backers to turn corner

European IPOs may need big backers to turn corner

'Cornerstone' investors could become a necessary evil for European IPOs in 2012. Giving powerful backers guaranteed shares in return for large, early commitments to support initial public offerings would get short shrift in good times. But Europe's new-is
Published 01 Jan, 2012 12:00am
TSX ends volatile year with a rally

TSX ends volatile year with a rally

Toronto's main stock index closed higher on Friday, the last trading day of the year, as financial and resource shares rallied on signs the US economy was recovering, but the jump was not enough to avert the index's first year-on-year decline since 2008.
Published 01 Jan, 2012 12:00am
Russian market has worst year since 2008

Russian market has worst year since 2008

The Russian stock market staged its worst performance in 2011 since the credit crisis in 2008, falling around 20 percent on fears Europe's woes would spread and political unrest in Russia will continue. The rouble-traded MICEX index and the dollar-based R
Published 01 Jan, 2012 12:00am
China stock regulator says no help for market

China stock regulator says no help for market

The government does not plan to offer help to China's stock market, whose main index lost one-fifth of its value in 2011, and investors should instead have faith in market forces, the country's stocks regulator was quoted as saying on Saturday. The benchm
Published 01 Jan, 2012 12:00am
Indian corporate bond yield ends steady

Indian corporate bond yield ends steady

Indian 10-year corporate bond yields ended steady on Friday, with a bearish near-term outlook weighed by an additional 400-billion-rupee ($7.53 billion) government borrowing announced by the Reserve Bank of India after market hours. The 10-year corporate
Published 01 Jan, 2012 12:00am
Indian corporate bond yield ends steady

Indian corporate bond yield ends steady

Indian 10-year corporate bond yields ended steady on Friday, with a bearish near-term outlook weighed by an additional 400-billion-rupee ($7.53 billion) government borrowing announced by the Reserve Bank of India after market hours. The 10-year corporate
Published 01 Jan, 2012 12:00am
Ajmal believes UDRS will help Pakistan spinners

Ajmal believes UDRS will help Pakistan spinners

Pakistan's leading spinner Saeed Ajmal is confident the Umpires Decision Review System (UDRS) in the forthcoming series against England will be a plus for his team's slow bowlers because of the number of left-handers in the opposition. "It is going to be
Published 01 Jan, 2012 12:00am
Djokovic ends 2011 in winning style

Djokovic ends 2011 in winning style

Novak Djokovic brought the curtain down on his stunning 2011 season with a 6-2, 6-1 thrashing of Spain's David Ferrer in the final of the Mubadala World Tennis Championship exhibition event here on Saturday. Having already crushed Roger Federer by the sam
Published 01 Jan, 2012 12:00am
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