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Archive - 2012-01-04
European stocks, euro lower
Financial

European stocks, euro lower

LONDON : European stock markets closed lower and the euro fell Wednesday as concerns over the eurozone debt crisis once
Published 04 Jan, 2012 06:52pm
European stocks drop after recent gains
Top News

European stocks drop after recent gains

LONDON: European shares dropped and the euro fell back below $1.30 on Wednesday as markets refocused on eurozone debt co
Published 04 Jan, 2012 02:57pm
COAS leaves for China on official visit
Top News

COAS leaves for China on official visit

RAWALPINDI: Chief of Army Staff (COAS), General, Ashfaq Parvez Kayani left here for China for 5-day official visit on th
Published 04 Jan, 2012 02:08pm
Salman Taseer: The governor that was
Top News

Salman Taseer: The governor that was

KARACHI : Today marks the day when former governor of Punjab Salman Taseer was gunned by his own bodyguard Mumtaz Qadri.
Published 04 Jan, 2012 10:31am
KSE mid day update
Top News

KSE mid day update

RECORDER REPORT KARACHI: On Wednesday, until 12:45 P.M., KSE-100 Index value was 11,406.61 with a net positive change
Published 04 Jan, 2012 08:00am
Tokyo stocks close up 1.24pc
Financial

Tokyo stocks close up 1.24pc

TOKYO: Tokyo stocks rose 1.24 percent on Wednesday, ending the first session of the year in an upbeat mood on better-tha
Published 04 Jan, 2012 07:31am
PPP in favour of new provinces: PM
Top News

PPP in favour of new provinces: PM

NAVEED BUTT ISLAMABAD: Prime Minister Yousuf Raza Gilani has said that Pakistan Peoples Party (PPP) is in favour of c
Published 04 Jan, 2012 06:44am
Bank deposits at ECB hit record high
Top News

Bank deposits at ECB hit record high

FRANKFURT: The volume of overnight funds held by banks at the European Central Bank has hit a new record high, official
Published 04 Jan, 2012 06:39am
Hina meets Afghan ambassador
Top News

Hina meets Afghan ambassador

RECORDER REPORT ISLAMABAD: Foreign Minister Hina Rabbani Khar and Afghan Ambassador Mohammad Umer Daudzai on Tuesday
Published 04 Jan, 2012 06:30am
KSE morning update
Top News

KSE morning update

RECORDER REPORT KARACHI : Karachi share market started on Wednesday on a mixed note with the index moving both side
Published 04 Jan, 2012 05:57am
Ogra may raise gas wellhead prices
Top News

Ogra may raise gas wellhead prices

RECORDER REPORT KARACHI: The Oil and Gas Regulatory Authority (Ogra) is likely to revise wellhead gas prices by up to
Published 04 Jan, 2012 05:18am
Hong Kong shares open flat
Financial

Hong Kong shares open flat

HONG KONG: Hong Kong stocks opened flat on Wednesday, despite a strong performance by Wall Street overnight on the back
Published 04 Jan, 2012 04:09am
Cheap urea? No more!
BR Research

Cheap urea? No more!

Such has been the frenzy over the prevailing natural gas crisis that major focus has been diverted to either CNG strikes or industrial closu
Published 04 Jan, 2012 12:00am
Ufone volunteers assisting in Rahbar Mentor Programme

Ufone volunteers assisting in Rahbar Mentor Programme

Taking a step forward to promote education amongst the underprivileged, Ufone Volunteers are assisting in The Citizens Foundation's "Rahbar Mentor Programme". In continuation of Ufone's collaboration with TCF, an interactive workshop was arranged for Ufon
Published 04 Jan, 2012 12:00am
Never-ending energy crisis is government's inefficiency: Imran

Never-ending energy crisis is government's inefficiency: Imran

Pakistan Tehreek Insaf (PTI) chief Imran Khan on Tuesday said that his party would announce its future course of action against the government in its central executive committee meeting to be held on Saturday - in which civil disobedience is one of the op
Published 04 Jan, 2012 12:00am
Soap makers seek duty, sales tax free import of furnace oil

Soap makers seek duty, sales tax free import of furnace oil

Pakistan Soap Manufactures Association (PSMA) has demanded of the government to allow duty and sales tax free import of furnace oil to keep soap manufacturing units operative in the absence of gas supply.
Published 04 Jan, 2012 12:00am
Police torture on protestors condemned

Police torture on protestors condemned

Jamaat-e-Islami Secretary General, Liaqat Baloch, has condemned the police baton charge and tear gas shelling on the people protesting against gas and CNG load shedding in Islamabad and the peaceful rickshaw drivers in Peshawar. He said that the governmen
Published 04 Jan, 2012 12:00am
Challenge of more provinces

Challenge of more provinces

Although the ANP-sponsored tribal jirga's demand for the merger of Fata with Khyber-Pakhtunkhwa may appear to be in conflict with the prevailing political debate in support of more provinces, but they do share a commonality. However, the challenge is how
Published 04 Jan, 2012 12:00am
Reduction in NSS rates

Reduction in NSS rates

In its periodic review, the Central Directorate of National Savings (CDNS) has revised downwards profit rates on its various National Saving Schemes (NSS) by up to 84 basis points (bps) with effect from 1st January, 2012. The rate for Special Saving Certi
Published 04 Jan, 2012 12:00am
Bravo Ogra!

Bravo Ogra!

Ogra has, un-typically, rejected the LNG option in its recommendations to ECC. There is a sound logic behind it. LNG would result in gas prices which will be four times the existing gas prices. People are resisting the 14 percent proposed increase in the
Published 04 Jan, 2012 12:00am
Trade unionism and change - II

Trade unionism and change - II

In Pakistan one Commission on Labour headed by Justice Shafi-ur-Rehman was constituted. It is not known if the Commission has submitted any Report as none has been published to the best of our knowledge, in the Official Gazette. In India, National Commiss
Published 04 Jan, 2012 12:00am
Outlook 2012 - II: Growth is SBP's responsibility

Outlook 2012 - II: Growth is SBP's responsibility

Pakistan could be heading for another difficult year, despite signs of another strong growth pattern seen in the remittances inflow. If our exports do not grow and we continue to miscalculate our food demand we may see pressure exerting on the country's b
Published 04 Jan, 2012 12:00am
Realism versus liberalism

Realism versus liberalism

In the garb of liberalism and broadmindedness so many acts are being conducted which raise the question of not only good or bad, but may be not according to the laws of respect and dignity. It is only a matter of hesitation of not crossing the line. Showi
Published 04 Jan, 2012 12:00am
Respect and magnanimity

Respect and magnanimity

As a member of Arts Council of Pakistan (ACP), I was really shocked to note the press statement of Omer Sharif who after facing a big defeat in the recently held Arts Council elections announced that he would form another arts council. It would have been
Published 04 Jan, 2012 12:00am
OGDC discovers new gas source

OGDC discovers new gas source

The Oil and Gas Development Company (OGDC) has discovered a hydrocarbon-bearing horizon in its exploratory well Zin-1, located in District Dera Bugti, Balochistan. OGDC is the 'operator', with 95 percent working interest in Zin Exploration Licence, togeth
Published 04 Jan, 2012 12:00am
HUF hosts lecture on Dara Shikoh

HUF hosts lecture on Dara Shikoh

Habib University Foundation (HUF) recently hosted a lecture at the second floor, which shed light on the political and theological implications of Dara Shikoh's scholarly work on the Upanishads. Dr Munis Faruqui, Assistant Professor at the Department of S
Published 04 Jan, 2012 12:00am
Malala Yousufzai receives rich applause in Sindh Assembly

Malala Yousufzai receives rich applause in Sindh Assembly

The National Peace Award winner for service to promote education in the troubled Swat valley of Khyber-Pakhtunkhwa province, Malala Yousufzai received huge applause from Sindh Assembly, which she attended on Tuesday. With entering the Sindh Assembly Gover
Published 04 Jan, 2012 12:00am
PTCL Soofia gets 'Top Agent of the Karachi Contact Center Award'

PTCL Soofia gets 'Top Agent of the Karachi Contact Center Award'

In recognition of her outstanding efforts for provision of best customer care and outreach services by Pakistan Telecommunications Company Ltd (PTCL), Soofia Khanum was given the "Top Agent of the Karachi Contact Center Award" at the Annual Dinner Gala an
Published 04 Jan, 2012 12:00am
Bandit killed

Bandit killed

An alleged bandit on Tuesday shot dead by the dweller in the limits of Ajmir Nagri police station. According to police sources, the incident took place at House No B-1000 located in sector 1A3, where an alleged bandit entered and tried to steal the valuab
Published 04 Jan, 2012 12:00am
IoBM wins fourth CFA Institute Research Challenge

IoBM wins fourth CFA Institute Research Challenge

The students of Institute of Business Management (IoBM) emerged as winners of the 4th Institute Research Challenge (IRC) hosted by CFA Pakistan at a local hotel in Karachi. The winners will now represent Pakistan at the Asia Pacific Regional Final of the
Published 04 Jan, 2012 12:00am
Gold ornaments worth Rs 5.56 million looted

Gold ornaments worth Rs 5.56 million looted

Following the first robbery incident reported at Shah Faisal police station remits where a gang of robbers looted huge quantity of gold ornaments worth Rs 5.56 million from a jewellery shop, the shopkeepers staged protest demonstration to express resentme
Published 04 Jan, 2012 12:00am
'Buying rice by TCP will put a halt on its export'

'Buying rice by TCP will put a halt on its export'

Rice Exporters Association of Pakistan has strongly opposed any intervention of government institutions in rice trade, saying any decision of buying rice by Trading Corporation of Pakistan will put a halt on rice exports causing huge losses to foreign exc
Published 04 Jan, 2012 12:00am
DCC of Sindh government to finalise devolution case

DCC of Sindh government to finalise devolution case

Devolution Cabinet Committee (DCC) of the Sindh government will meet within next few days to finalise the devolution case of Sindh so that it could be taken up in the meeting of the Council of Common Interests (CCI), Business Recorder learnt on Tue
Published 04 Jan, 2012 12:00am
Three including PPP activist killed

Three including PPP activist killed

The unabated spree of targeted killing on Tuesday remained continued in the city, claiming three lives including an activist of Pakistan Peoples Party (PPP) in separate incidents in various parts of the metropolis. According to police and rescue sources,
Published 04 Jan, 2012 12:00am
Seriously ill children: PIA, make a Wish Foundation arrange air journey

Seriously ill children: PIA, make a Wish Foundation arrange air journey

PIA and Make a Wish Foundation-Pakistan arranged air journey for five seriously ill children to fulfil their desire of becoming a pilot and fly an aeroplane. Two children wearing PIA Pilot's uniform went on board PIA flight, as pilots from Karachi to Laho
Published 04 Jan, 2012 12:00am
Gas pipeline blown up in Dera Bugti

Gas pipeline blown up in Dera Bugti

Unknown men blew up a gas pipeline in Dera Bugti area of Balochistan disrupting gas supply on Tuesday, Levis Force said. They said that unidentified men had placed explosives material to eight-inch gas pipeline and detonated with remote control causing su
Published 04 Jan, 2012 12:00am
Price control of edible items stressed

Price control of edible items stressed

Chief Secretary Sindh, Raja Muhammad Abbas has emphasised upon the department of supply and prices and commissioners and deputy commissioners to ensure stability of prices of commodities and take action against defaulters in accordance with the law.
Published 04 Jan, 2012 12:00am
US MIDDAY: gold rises over two percent

US MIDDAY: gold rises over two percent

Gold rose 2.5 percent on Tuesday, on track for its largest one-day gain in about two months, as economic optimism sparked broad-based equities and commodities rallies as well as bullion buying after the metal's heavy losses last week.
Published 04 Jan, 2012 12:00am
US MIDDAY: copper surges

US MIDDAY: copper surges

Copper kicked off the first trading day of 2012 with a more than 2-percent rally on Tuesday, driven by prospects of healthier demand from upbeat data from the world's top two raw materials consumers. With some assistance from a weaker dollar, buyers reeme
Published 04 Jan, 2012 12:00am
US MIDDAY: soya and corn advance

US MIDDAY: soya and corn advance

Grains began the new year with a bang on Tuesday, with corn and soyabeans surging on worries about hot, dry crop weather in Argentina slashing production, coupled with a renewed appetite for risk in global financial markets. Grains had a mixed performance
Published 04 Jan, 2012 12:00am
Gold benefits from euro strength

Gold benefits from euro strength

Gold rose by nearly 2 percent on Tuesday, fuelled by a recovery in the euro against the dollar, after the bullion price neared six-month lows last week in a flurry of year-end selling. Mounting tensions between Iran and the United States over a possible d
Published 04 Jan, 2012 12:00am
Gold and silver rally in Asia

Gold and silver rally in Asia

Gold rallied more than 1 percent and silver jumped over 2 percent on Tuesday as investors returned in the new year with a renewed appetite for riskier assets such as commodities, although global economic worries still weighed on sentiment. Better-than-exp
Published 04 Jan, 2012 12:00am
Sugar jumps four percent

Sugar jumps four percent

Sugar rallied more than 4 percent on Tuesday, making it one of the strongest commodities in the Thomson Reuters-Jefferies CRB index on the first trading day of 2012, while cocoa settled mixed. Coffee ended higher after an early dip on profit-taking, joini
Published 04 Jan, 2012 12:00am
Palm oil hits six-week high

Palm oil hits six-week high

Malaysian crude palm oil futures rose to a six-week high on Tuesday, buoyed by strong crude prices and expectations of lower output in Southeast Asian producers due to wet weather. Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exchang
Published 04 Jan, 2012 12:00am
Big banks may line up to block sale of LME

Big banks may line up to block sale of LME

Top bank stakeholders of the London Metal Exchange are likely to amass enough support to block a sale they fear would bring a more heavily regulated owner and hurt their lucrative warehousing businesses, senior industry sources say. The LME said in Septem
Published 04 Jan, 2012 12:00am
Oil soars over three percent

Oil soars over three percent

Oil prices rose more than 3 percent Tuesday as tension between Iran and the United States and Europe kept fears of potential supply disruptions in focus, while strong Chinese and US data fuelled optimism about the global economy at the start of 2012 tradi
Published 04 Jan, 2012 12:00am
Copper at three-week high

Copper at three-week high

Copper prices surged to a three-week high on Tuesday, lifted by an expansion in manufacturing activity in the United States and China which boosted hopes that demand for industrial metals is likely to remain healthy. Three-month copper on the London Metal
Published 04 Jan, 2012 12:00am
US 2012 cotton sowings to suffer versus corn and soyabeans

US 2012 cotton sowings to suffer versus corn and soyabeans

US farmers are expected to plant less cotton in 2012 as a decline in prices to below $1 per lb and escalating costs of key inputs such as fuel make it more attractive to sow corn and soyabeans. US cotton plantings will range from 12 million to 13.5 millio
Published 04 Jan, 2012 12:00am
Jordan hosts Israelis and Palestinians in rare meeting

Jordan hosts Israelis and Palestinians in rare meeting

Israeli and Palestinian negotiators gathered in the Jordanian capital on Tuesday for their first face-to-face meeting in more than 15 months, but both sides insisted full-blown talks remained some way off. Israel's chief negotiator Yitzhak Molcho, his Pal
Published 04 Jan, 2012 12:00am
Kuwait protests at Iran's step to develop gas field

Kuwait protests at Iran's step to develop gas field

Kuwait protested on Tuesday against Iran's intention to unilaterally develop a disputed offshore gas field in the Gulf unless an agreement is reached, Kuwait's state news agency KUNA reported. Iran said on Sunday it would launch full-scale unilateral deve
Published 04 Jan, 2012 12:00am
Moroccan king names Islamist-led cabinet

Moroccan king names Islamist-led cabinet

King Mohammed on Tuesday awarded cabinet posts to moderate Islamists for the first time on Tuesday, giving the foreign, justice and social affairs ministries to the party that came first in a November election, the official MAP news agency said. Abdelilah
Published 04 Jan, 2012 12:00am
UK artist, St Trinian's creator dies

UK artist, St Trinian's creator dies

British cartoonist Ronald Searle, best known for his spiky drawings of the tearaway pupils of the fictional girls school St Trinian's, has died in southern France aged 91, his daughter said on Tuesday. Searle, whose anarchic St Trinian's characters spawne
Published 04 Jan, 2012 12:00am
Egyptians head to polls again in parliament vote

Egyptians head to polls again in parliament vote

Party agents flooded the streets with banners and verses from the Koran as the third phase of Egypt's parliamentary election began on Tuesday, with Islamists trying to dominate an assembly that will rival the clout of the ruling generals. The army faced a
Published 04 Jan, 2012 12:00am
Four killed as Tripoli militia clash with Misrata fighters

Four killed as Tripoli militia clash with Misrata fighters

A gunfight erupted in central Tripoli on Tuesday, killing four, as a group of former rebels from Libya's third biggest city Misrata clashed with some ex-fighters from the capital, witnesses said. The two groups of former rebels, who helped topple Muammar
Published 04 Jan, 2012 12:00am
Storms cut off power to over 100,000 UK homes

Storms cut off power to over 100,000 UK homes

More than 100,000 homes lost their electricity supply in Britain on Tuesday as storms of up to 90 miles-per-hour uprooted trees which knocked out transmission lines and flying debris damaged power infrastructure, electricity suppliers said.
Published 04 Jan, 2012 12:00am
Boycott, walkout mar Iraq's parliament session

Boycott, walkout mar Iraq's parliament session

Members of the Sunni Muslim-backed Iraqiya bloc boycotted Iraq's parliament and cabinet on Tuesday, accusing Shia Prime Minister Nuri al-Maliki's bloc of governing alone in a power-sharing coalition that was supposed to ease sectarian tensions. The politi
Published 04 Jan, 2012 12:00am
Two Britons detained in Afghanistan

Two Britons detained in Afghanistan

Two British nationals have been detained in the Afghan capital in possession of dozens of AK-47 assault rifles with the serial numbers erased, a government official said Tuesday. "Two British nationals along with their two Afghan colleagues, a driver and
Published 04 Jan, 2012 12:00am
Two men convicted for London race murder

Two men convicted for London race murder

A court on Tuesday convicted two men of the 1993 murder of black teenager Stephen Lawrence, a landmark case that exposed racism in the London police and led to a change in the law allowing suspects to be tried twice for the same crime. The 18-year-old sch
Published 04 Jan, 2012 12:00am
Three explosions kill 11 in Afghanistan

Three explosions kill 11 in Afghanistan

Three separate explosions killed 11 people and wounded dozens of others in Afghanistan's southern Kandahar province on Tuesday, officials said, the latest in a series of attacks in the volatile region. In the first attack, four children and a policeman we
Published 04 Jan, 2012 12:00am
While Republicans battle, Obama never far away in Iowa

While Republicans battle, Obama never far away in Iowa

While Republican presidential candidates dominate headlines in Iowa with their caucus quest, President Barack Obama's Democrats have quietly built a massive organisational structure to round up voters and win the state in November's general election. Thou
Published 04 Jan, 2012 12:00am
Australia on top as wickets tumble

Australia on top as wickets tumble

Australia were on top after a remarkable start in the second Test against India on Tuesday, recovering from a shaky opening to their innings on a day that saw 13 wickets tumble. India were skittled for 191 off 59.3 overs and the hosts lost three early wic
Published 04 Jan, 2012 12:00am
Murray, Clijsters win in Brisbane

Murray, Clijsters win in Brisbane

World number four Andy Murray's build-up in his quest for a first grand-slam title had an uneasy start when he laboured to a 5-7 6-3 6-2 victory over the unheralded Mikhail Kukushkin in the Brisbane International first round on Tuesday. Kim Clijsters's pr
Published 04 Jan, 2012 12:00am
PCB formally invites Bangladesh

PCB formally invites Bangladesh

Pakistan Cricket Board (PCB) has formally invited Bangladesh Cricket Board (BCB) for sending its team to Pakistan for a cricket series in Pakistan. PCB Chairman Chaudhry Zaka Ashraf has sent an email to Bangladesh Cricket Board President Mustafa Kamal ask
Published 04 Jan, 2012 12:00am
Tears as Bartoli demolishes Gajdosova

Tears as Bartoli demolishes Gajdosova

French star Marion Bartoli reduced her opponent to tears as she demolished Australia's Jarmila Gajdosova without dropping a game at the mixed teams Hopman Cup in Western Australia on Tuesday. The ninth-ranked Bartoli, beaten by world number five Li Na in
Published 04 Jan, 2012 12:00am
Sri Lanka elects board uncontested

Sri Lanka elects board uncontested

Sri Lanka's national cricket board was elected uncontested on Tuesday amid allegations that political pressure had forced favourites to withdraw from the first election in seven years. The election was called by the government to ensure the island was in
Published 04 Jan, 2012 12:00am
Malinga, Tharanga in ODI squad

Malinga, Tharanga in ODI squad

Sri Lanka on Tuesday named paceman Lasith Malinga and opening batsman Upul Tharanga in a 15-man squad for the One-day series in South Africa. Fast bowlers Nuwan Kulasekara and Kosala Kulasekara will also join the team for the five-match series starting in
Published 04 Jan, 2012 12:00am
Reception for special persons' Olympic team

Reception for special persons' Olympic team

Lahore Businessmen Association for Rehabilitation of Disabled (LABARD) has arranged a reception for 59-member team of special persons who took part in the Olympics of Special persons held in Greece and won 73 medals for the country here in Lahore Gymkhana
Published 04 Jan, 2012 12:00am
Kallis, Petersen put South Africa on top

Kallis, Petersen put South Africa on top

Jacques Kallis and Alviro Petersen hit centuries as South Africa dominated the first day of the third and final Test against Sri Lanka at Newlands on Tuesday. South Africa were 347 for three at the close after being sent in to bat. Kallis, playing in his
Published 04 Jan, 2012 12:00am
Family first as Beckham rules out PSG move

Family first as Beckham rules out PSG move

David Beckham will not join Paris Saint-Germain for "family reasons", the big-spending Qatar-backed French club's sporting director Leonardo said on Tuesday. "He will not come to PSG," said the Brazilian, citing "family reasons" for the 36-year-old former
Published 04 Jan, 2012 12:00am
Terry eyes legal action over cigarette image

Terry eyes legal action over cigarette image

Lawyers for England captain John Terry could take legal action after an apparent image of the footballer was used in a tobacco warning on cigarette packets in India, his spokesman said Tuesday. The blurry photograph featuring the head and shoulders of a m
Published 04 Jan, 2012 12:00am
Japan's Sugita shines in India

Japan's Sugita shines in India

Japanese qualifier Yuichi Sugita knocked out eighth-seeded Olivier Rochus of Belgium 6-3, 6-4 to move into the second round of the ATP Chennai Open on Tuesday. "This is my best win ever," the 23-year-old Sugita told AFP. "We Japanese love a good fight in
Published 04 Jan, 2012 12:00am
National Bank of Pakistan

National Bank of Pakistan

National Bank of Pakistan (NBP) is the largest commercial bank in Pakistan with total asset size of Rs 1,014 billion as on 30th September 2011 accounting for nearly 14 percent of the industry's (all commercial banks) total asset base. NBP has one of the l
Published 04 Jan, 2012 12:00am
National Bank of Pakistan

National Bank of Pakistan

National Bank of Pakistan (NBP) is the largest commercial bank in Pakistan with total asset size of Rs 1,014 billion as on 30th September 2011 accounting for nearly 14 percent of the industry's (all commercial banks) total asset base. NBP has one of the l
Published 04 Jan, 2012 12:00am
Teacher gets salary on Ombudsman's intervention

Teacher gets salary on Ombudsman's intervention

Following the orders of the Ombudsman Punjab, a primary school teacher has been paid his salary of 33 months after 13 years as he became invalid due to paralysis and kept on visiting office to office and submitting his rejoinders. Provincial Ombudsman Pun
Published 04 Jan, 2012 12:00am
Nawaz condoles Yaqoob Tarar's demise

Nawaz condoles Yaqoob Tarar's demise

President Pakistan Muslim League-Nawaz (PML-N) Nawaz Sharif has expressed deep sense of grief and sorrow over the demise of Chaudhry Yaqoob Tarar, brother of former president Rafique Tarar. In a condolence message, Nawaz prayed that may Allah Almighty res
Published 04 Jan, 2012 12:00am
Sterling gains

Sterling gains

Sterling rose versus the dollar on Tuesday as better than expected global economic data supported riskier currencies. Figures also showed British manufacturing appeared to be stabilising as orders from Germany and China picked up, with the purchasing mana
Published 04 Jan, 2012 12:00am
Singapore dollar, ringgit breach resistance

Singapore dollar, ringgit breach resistance

Short-term investors bought emerging Asian currencies on Tuesday, helping the Singapore dollar and the ringgit break resistance lines on improving risk appetite on the first trading day of the year in most markets. Players remained reluctant to chase the
Published 04 Jan, 2012 12:00am
Indian rupee snaps two-day fall

Indian rupee snaps two-day fall

The Indian rupee rose for the first time in three sessions on Tuesday, aided by an upswing in domestic stock prices and an increased appetite for risk, although it finished off the day's high as oil importers stepped up buying of dollars. The rupee closed
Published 04 Jan, 2012 12:00am
Swiss franc down versus euro

Swiss franc down versus euro

An uptick in risk appetite sent the Swiss franc down somewhat against the euro on Tuesday, with European shares poised to open higher on the first trading day of 2012. The franc fell 0.3 percent against the euro to trade at 1.2192 per euro by 0728 GMT com
Published 04 Jan, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 82.01-82.05 (previous 81.99-82.00). Call Money Rates: 8.00-20.00 percent (previous 10.00-20.00 percent).
Published 04 Jan, 2012 12:00am
Chinese, German data boost euro in London

Chinese, German data boost euro in London

The euro rose on Tuesday as better than expected economic data boosted riskier assets and triggered short-covering, but it was likely to remain pressured in 2012 on worries over high sovereign debt and low growth in the eurozone. Sentiment was boosted by
Published 04 Jan, 2012 12:00am
Early trade in New York: Euro rallies sharply

Early trade in New York: Euro rallies sharply

The euro rallied sharply while the dollar fell on Tuesday as better-than-expected economic data boosted appetite for risk, though analysts cautioned the euro will remain pressured on sovereign debt concerns and low growth in the eurozone. The euro strengt
Published 04 Jan, 2012 12:00am
Euro claws up in Asia

Euro claws up in Asia

The euro edged higher against the dollar and the yen on Tuesday but touched a record low versus the Australian dollar and looked set to remain under pressure in 2012 on worries over Europe's debt crisis. The euro gained a bit of reprieve as a rise in Asia
Published 04 Jan, 2012 12:00am
Money markets: Tensions not seen easing much as banks hoard cash

Money markets: Tensions not seen easing much as banks hoard cash

The eurozone banking system starts the new year awash with record levels of liquidity but few signs that institutions are prepared to lend to each other, leaving money markets frozen. Most of the near half trillion euros of three-year funds borrowed from
Published 04 Jan, 2012 12:00am
FTSE kicks off 2012 on high note

FTSE kicks off 2012 on high note

Britain's top shares powered ahead at the start of the new trading year on Tuesday as upbeat economic data from the United States, Europe and China boosted risk appetite and helped investors set aside fears over the eurozone debt crisis. The pace of growt
Published 04 Jan, 2012 12:00am
Australian shares rise

Australian shares rise

Australian shares rose 1.1 percent on Tuesday, marking a firm start for the first day of trade for 2012, led by resource stocks and financials after strong performances by markets in Germany and France. "A good way to start the trading year off on a posit
Published 04 Jan, 2012 12:00am
Credit limit stalemate weighs on Sri Lanka stocks

Credit limit stalemate weighs on Sri Lanka stocks

Sri Lanka's main share index fell to a one-week low on Tuesday, with large funds and institutional investors subdued by a lack of direction from the regulator on the easing of credit limits and with portfolio allocations undecided for this year. The rupee
Published 04 Jan, 2012 12:00am
Hong Kong shares start 2012 stronger

Hong Kong shares start 2012 stronger

Hong Kong shares started the new year stronger on Tuesday, with the Hang Seng Index rising 2.4 percent to its highest in almost three weeks, bolstered by strength in oil stocks and hopes that Beijing will take fresh steps to support China's cooling econom
Published 04 Jan, 2012 12:00am
Most Southeast Asian markets rise

Most Southeast Asian markets rise

Most Southeast Asian stock markets rose on Tuesday, with risk appetite improving at the start of the new year and as sentiment was boosted by a rally in European stocks and positive Chinese economic data. Indonesia saw a net foreign inflow of $87.3 millio
Published 04 Jan, 2012 12:00am
European shares hit five-month high

European shares hit five-month high

European stocks ended at a five-month closing high on Tuesday after strong manufacturing data from the United States and China boosted investor confidence and helped shift attention away from the eurozone. The FTSEurofirst 300 index of top European shares
Published 04 Jan, 2012 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended up 1.46 percent on Tuesday, joining regional bourses in gains and paced by real estate firms on optimism over rising property prices as a new subway line in the capital Taipei begins operation this week. Banking shares also rose 2.59 p
Published 04 Jan, 2012 12:00am
Tuesday's midday trade: financial, materials shares lead US market

Tuesday's midday trade: financial, materials shares lead US market

Wall Street stocks kicked off 2012 with a sharp rally Tuesday after data showed US manufacturing activity and construction spending picked up, signalling the economic recovery was gaining steam. Investors, looking to put new cash to work after a tough yea
Published 04 Jan, 2012 12:00am
Indian shares rally

Indian shares rally

Indian shares rallied the most in nearly two weeks on Tuesday, led by ICICI Bank, construction major Larsen & Toubro and software bellwether Infosys, as investors bet the central bank will soon start cutting interest rates to bolster growth. Signs of an i
Published 04 Jan, 2012 12:00am
Seoul shares up

Seoul shares up

Seoul's benchmark KOSPI index closed up on Tuesday, riding support from an overnight rally in European shares after stronger than expected manufacturing data from China and Germany boosted sentiment. "The momentum from Europe was amplified today, mostly d
Published 04 Jan, 2012 12:00am
Qatar index hits 11-month high; Egyptian bourse slips

Qatar index hits 11-month high; Egyptian bourse slips

Qatar's index posted its largest one-day gain in four weeks and ended at an 11-month high on Tuesday on renewed buying ahead of annual results, while Egypt's bourse slipped on lingering political uncertainty. Doha's index rose 1.1 percent to its highest c
Published 04 Jan, 2012 12:00am
Greece faces euro exit

Greece faces euro exit

Greece will have to leave the eurozone if it fails to clinch a deal on a second, 130 billion euro bailout with its international lenders, a government spokesman said on Tuesday. It was an unusually public stark warning from the embattled country, aimed at
Published 04 Jan, 2012 12:00am
Spain jobless rises, government says employment a priority

Spain jobless rises, government says employment a priority

The number of Spaniards without work increased slightly in December as the traditionally busy holiday season failed to offset the economic slump, prompting the economy minister to say job creation must be a priority for the new government.
Published 04 Jan, 2012 12:00am
German unemployment falls more than expected

German unemployment falls more than expected

German unemployment fell more than expected in December, with the jobless rate falling to the lowest level since the unification of Germany two decades ago, data showed on Tuesday. Unemployment fell by 22,000 on the month in December, the Federal Labour O
Published 04 Jan, 2012 12:00am
Car sales accelerate 6.1 percent in December

Car sales accelerate 6.1 percent in December

German car sales rose 6.1 percent in December as consumers brushed off an uncertain economic environment and bought more compact cars, high-margin vans and luxury saloons. That helped secure growth of 8.8 percent for 2011, German motor vehicle authority K
Published 04 Jan, 2012 12:00am
Pfizer gets approval for pneumonia vaccine usage

Pfizer gets approval for pneumonia vaccine usage

Pfizer Inc announced that the US Food and Drug Administration (FDA) has granted approval of the company's pneumococcal conjugate vaccine Prevenar 13 (Pneumococcal 13-valent Conjugate Vaccine) as a single dose for use in adults. Prevenar 13 is indicated fo
Published 04 Jan, 2012 12:00am
KPN CFO quits over new executive structure

KPN CFO quits over new executive structure

The chief financial officer of Royal KPN NV, the biggest telecoms operator in the Netherlands, has resigned with immediate effect after objecting to the group's new executive structure launched on January 1.
Published 04 Jan, 2012 12:00am
India ends Saudi chemicals anti-dumping measures

India ends Saudi chemicals anti-dumping measures

India has ended anti-dumping measures on Saudi Arabia for the imports of polypropylene used in manufacturing plastics, Saudi's state news agency reported on Tuesday, quoting the country's deputy oil minister. India lifted anti-dumping duties at the end of
Published 04 Jan, 2012 12:00am
US manufacturing expansion hits six-month high

US manufacturing expansion hits six-month high

US manufacturing grew at the fastest pace in six months in December, capping a late-year rally in the sector, while a rise in new orders suggested good momentum in 2012, an industry report showed Tuesday. The Institute for Supply Management said its index
Published 04 Jan, 2012 12:00am
Sinopec, Total pour $4.5 billion into US shale

Sinopec, Total pour $4.5 billion into US shale

China's Sinopec and France's Total SA made major purchases into the US energy sector on Tuesday, pouring $4.5 billion into deals to buy into booming production from shale rock formations. The ventures showed that the global appetite for US energy assets r
Published 04 Jan, 2012 12:00am
China buys Russia, Vietnam oil as Iran supply cut

China buys Russia, Vietnam oil as Iran supply cut

Chinese trader Unipec paid a record premium for a February cargo of Russian crude and bought Vietnamese oil for the first time in at least a year, traders said, as the world's second-largest oil consumer looks to cover for reduced Iranian supplies. China
Published 04 Jan, 2012 12:00am
British manufacturing slumps in fourth quarter

British manufacturing slumps in fourth quarter

British manufacturing closed 2011 with its worst quarter in more than two years despite signs that factories propped up output in December by eating into backlogs, data showed, leaving the economy on course for another recession. The Markit/CIPS Manufactu
Published 04 Jan, 2012 12:00am
Slow activity observed on grain market

Slow activity observed on grain market

Slow business was seen on the wholesale grain and seed market on Tuesday in process of trading, dealers said. On the cereal side barley Sindh and Mardan were quoted at Rs 3350, other commodity items maintained the overnight levels, they said.
Published 04 Jan, 2012 12:00am
Rise in phutti arrivals cause fall in spot rate on cotton market

Rise in phutti arrivals cause fall in spot rate on cotton market

The Karachi Cotton Association (KCA) reduced the official spot rate by Rs 50 on Tuesday after the Pakistan Cotton Ginners Association (PCGA) released the arrivals figure of seedcotton till December 31, 2011, dealers said. The official spot rate, after mai
Published 04 Jan, 2012 12:00am
Oil cake market rates

Oil cake market rates

The January vaida continued fall while the March contract was inert on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The January contract that had ended at Rs 1163.80 commenced with 30 paisa loss at Rs 1163.50. The
Published 04 Jan, 2012 12:00am
Iraq to export oil from new Gulf terminal next month

Iraq to export oil from new Gulf terminal next month

Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Gulf at the start of February, a move that will boost its export capacity by 900,000 barrels per day, oil officials said. Increasing export capacity is a c
Published 04 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 132,566 tonnes of cargo comprising 87,149 tonnes of import cargo and 45,417 tonnes of export cargo including 4,787 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 87,149 ton
Published 04 Jan, 2012 12:00am
Bangladesh tea prices sharply up

Bangladesh tea prices sharply up

Tea prices in Bangladesh rose sharply on Tuesday at a weekly auction because of higher demand from domestic buyers amid a tight supply, brokers said. The average price of Bangladeshi tea rose 5.7 percent to 166.72 taka ($2) per kg from the previous sale,
Published 04 Jan, 2012 12:00am
EU wheat hits 3-1/2 months high on La Nina threat

EU wheat hits 3-1/2 months high on La Nina threat

European wheat prices rose on Tuesday, buoyed by concerns about crops in South America as the La Nina weather phenomenon continued to build, but traders said the market could be overbought and vulnerable to a downside correction. Paris-based milling wheat
Published 04 Jan, 2012 12:00am
Food prices may ease in 2012, says new FAO chief

Food prices may ease in 2012, says new FAO chief

Food prices may ease in 2012 due to a slowing global economy, though no drastic drop from high levels is expected, the new director-general of the UN's Food and Agriculture Organisation said on Tuesday. Jose Graziano da Silva, the Brazilian who replaced S
Published 04 Jan, 2012 12:00am
Indonesia's 2011 oil output falls below target

Indonesia's 2011 oil output falls below target

Indonesia's oil production in 2011 fell below a government target to around 900,000 barrels per day (bpd), officials said on Tuesday, as the country lost output through shutdowns and as oil fields age. The country's chief economics minister Hatta Rajasa s
Published 04 Jan, 2012 12:00am
Ukraine's December exports two million tonnes of grain

Ukraine's December exports two million tonnes of grain

Ukraine exported about 2.0 million tonnes of grain between December 1 and 30, analyst ProAgro said on Tuesday. The consultancy said in a report the volume included 1.56 million tonnes of maize, 413,000 tonnes of wheat and other cereals. Wheat was mostly s
Published 04 Jan, 2012 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 04 Jan, 2012 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 04 Jan, 2012 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 Tuesday (January 03, 2012).

Published 04 Jan, 2012 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 Tuesday (January 03, 2012).

Published 04 Jan, 2012 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 Tuesday (January 03, 2012).

Published 04 Jan, 2012 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 Tuesday (January 03, 2012).

Published 04 Jan, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (January 03, 2012).
Published 04 Jan, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (January 03, 2012).

Published 04 Jan, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (January 03, 2012).

Published 04 Jan, 2012 12:00am
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