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Archive - 2012-01-07
Rs 20,000 per family in Watan Card: PDMA
Top News

Rs 20,000 per family in Watan Card: PDMA

PESHAWAR: The third phase of distribution of Watan Cards among flood affected people of four districts of Khyber Pakhtun
Published 07 Jan, 2012 03:49pm
Asia becomes new world economic centre
Top News

Asia becomes new world economic centre

KARACHI: With speedy changes in global economics scenario, particularly Europe where economics development has achieved
Published 07 Jan, 2012 01:51pm
Rwanda exports rise 32 percent in 2011
Top News

Rwanda exports rise 32 percent in 2011

KIGALI: Rwanda's exports of goods and services increased by 31.7 percent last year from 2010, thanks to growth in mining
Published 07 Jan, 2012 08:20am
Europe works even some drop currency
Top News

Europe works even some drop currency

BERLIN : The head of one of Angela Merkel's coalition partners contradicted on Saturday one of her tenets on the euro, s
Published 07 Jan, 2012 04:32am
PSO payables exceed receivables
Top News

PSO payables exceed receivables

ABDUL RASHEED AZAD ISLAMABAD: The total of payables and receivables of Pakistan State Oil (PSO) has swelled to over R
Published 07 Jan, 2012 04:15am
Gas supply to textile sector restored
Top News

Gas supply to textile sector restored

HAMID WALEED LAHORE: Petroleum Minister Dr Asim Hussain has restored gas supply to textile sector and nominated Aptma
Published 07 Jan, 2012 04:15am
Bullet-riddled body found

Bullet-riddled body found

A three-day old bullet-riddled body was found in the limits of Steel Town police station on Friday. According to police, a body, identified as Yousuf Ali Magsi, 25, son of Nabi Bux Magsi, was found near nallah (drainage) located in sector 13, MDA in Steel
Published 07 Jan, 2012 12:00am
Karachi University postpones papers

Karachi University postpones papers

University of Karachi has postponed all the papers scheduled to be held on 9th January 2012 on account of public holiday announced by the Sindh government on the Urs of Shah Abdul Latif Bhittai. The postponed papers will now be held on 13th January 2012 a
Published 07 Jan, 2012 12:00am
BIEK postpones supplementary exams

BIEK postpones supplementary exams

Chairman Board of Intermediate Education (BIEK) has postponed the supplementary exams of 1st year and 2nd year scheduled to be held on Monday 9th January 2011 on account of Sufi saint Shah Abdul Latif's Urs. The postponed papers would be held on 21st Janu
Published 07 Jan, 2012 12:00am
Sohail Naseem appointed on KPT board

Sohail Naseem appointed on KPT board

Ministry of Ports and Shipping has appointed chairman Karachi Cotton Association, Sohail Naseem on the board of trustees of Karachi Port Trust for two-year term, commencing from December 28, 2011. According to a KCA announcement, here Friday, KCA's Truste
Published 07 Jan, 2012 12:00am
NCA to hold degree show today

NCA to hold degree show today

National College of Arts (NCA) in collaboration with students of Visual Arts Department is organising a degree show at NCA Gallery here on Saturday. "Students' artwork which includes installations, paintings, sculptures, drawings and illuminations will be
Published 07 Jan, 2012 12:00am
PVMA-tanker union dispute: meeting today to resolve issue

PVMA-tanker union dispute: meeting today to resolve issue

The Sindh government has stepped up efforts to resolve the lingering dispute between Pakistan Vanaspati Manufacturers Association (PVMA) and the tankers' union, while the NLC has increased its number of tankers to avert any shortage of vegetable ghee/oil
Published 07 Jan, 2012 12:00am
APML gets permission to hold public meeting tomorrow

APML gets permission to hold public meeting tomorrow

A division bench of Sindh High Court (SHC) on Friday granted permission to All Pakistan Muslim League (APML) for holding public meeting at the ground, adjacent to Mazar-e-Quaid here on January 8 (tomorrow).
Published 07 Jan, 2012 12:00am
80 percent NBP branches on online network

80 percent NBP branches on online network

About 80 percent, or more than 1000, branches of National Bank of Pakistan (NBP) have been converted to online network in the country. According to NBP on Friday, its entire branch network is completely on-line in two provinces Gilgit/Baltistan and Baloch
Published 07 Jan, 2012 12:00am
Passing-out parade held at Hyderabad garrison

Passing-out parade held at Hyderabad garrison

After successful completion of six months training, 223 recruits from Sindh province passed out. The Garrison Commander Hyderabad Major General Anwar Ali Hyder was the chief guest at the passing out parade of the recruits held on Friday. In his speech, th
Published 07 Jan, 2012 12:00am
Uplift projects by: labour Department Punjab to provide required funds

Uplift projects by: labour Department Punjab to provide required funds

Provincial Minister for Labour, Haji Ehsaanuddin Qureshi has said that government will provide required funds for the completion of ongoing development projects launched by the labour department, whereas new welfare schemes would also be initiated for pro
Published 07 Jan, 2012 12:00am
Mobilink proves to be best service provider for IR services

Mobilink proves to be best service provider for IR services

Mobilink has once again proven to be the best service provider for International Roaming (IR) services, as per a recent survey conducted by the Pakistan Telecom Authority (PTA). The survey is a part of an effort by the regulatory authority to ensure provi
Published 07 Jan, 2012 12:00am
'Plan is being evolved for better disaster management'

'Plan is being evolved for better disaster management'

Director General Provincial Disaster Management Authority, Khalid Sher Dil has said PDMA distributed relief goods among the flood affectees in year 2010 involving an amount of more than Rs 700 millions. He said Rs 165 million have so far been allocated fo
Published 07 Jan, 2012 12:00am
First winter rains welcomed in central Punjab

First winter rains welcomed in central Punjab

The advent of first winter rain in the central Punjab is much welcomed by agricultural and weather experts, which in their estimates could help in curtailing cost of tube-wells, used for irrigation purposes, to the tune of Rs 5-7 billion and subsiding ong
Published 07 Jan, 2012 12:00am
Punjab and Sindh close canals for desilting

Punjab and Sindh close canals for desilting

Punjab and Sindh Irrigation departments have closed irrigation canals taking off from Taunsa barrage on the Indus river, Marala and Panjnad headworks on the Chenab river, Sukkar and Kotri barrages on the Indus river for the month long annual desilting and
Published 07 Jan, 2012 12:00am
Solo painting exhibition

Solo painting exhibition

Solo paintings exhibition of fast upcoming artist Erum Ashfaq titled "The Revival of Cultural Heritage" is in progress quite successfully at the Shakir Ali Museum of Pakistan National Council of Arts. Artists, art lovers as well as art collectors are visi
Published 07 Jan, 2012 12:00am
PCGA threatens to abandon 'phutti' procurement

PCGA threatens to abandon 'phutti' procurement

Central executive committee of Pakistan Cotton Ginners Association has warned government that ginners would stop procurement of 'phutti' protest if Trading Corporation of Pakistan does not start purchase of one million bales of cotton from January 10, 201
Published 07 Jan, 2012 12:00am
SHO summoned in Dost Muhammad Khosa case

SHO summoned in Dost Muhammad Khosa case

An additional district and sessions judge Lahore on Friday summoned Station House Officer (SHO) Racecourse on January 13 in an application seeking registration of a case against former chief minister Sardar Dost Muhammad Khosa for producing fake documents
Published 07 Jan, 2012 12:00am
DPS students donate Rs 0.2 million to flood victims

DPS students donate Rs 0.2 million to flood victims

Showing the spirit of solidarity and brotherhood the students and staff of Dawood Public School have donated Rs 0.2 million for the flood victims of interior Sindh on Friday, as part of their regular fund raising for different charitable causes as well as
Published 07 Jan, 2012 12:00am
UVAS seminar

UVAS seminar

Department of Livestock Production, University of Veterinary and Animal Sciences, is holding an institutional capacity building seminar and workshop on "Genetic Improvement and Fertility Enhancement in Livestock through Clinical Cytogenetics", at its Ravi
Published 07 Jan, 2012 12:00am
Senate elections 2012: PPP begins lobbying for unopposed elections

Senate elections 2012: PPP begins lobbying for unopposed elections

Pakistan People's Party (PPP) has started lobbying within the political parties having representation in Sindh Assembly for unopposed elections of Senators from Sindh in the upcoming Senate elections due in March 2012, Business Recorder has learnt
Published 07 Jan, 2012 12:00am
Government failed to implement assurances of Prime Minister: APNS

Government failed to implement assurances of Prime Minister: APNS

The APNS Executive Committee noted with concern that government has failed to implement the assurances of the Prime Minister regarding its demands for 40 percent rate increase, payment of outstanding dues and stoppage of advertisement allocation to dummy
Published 07 Jan, 2012 12:00am
Shazia flays media for 'negative' reporting

Shazia flays media for 'negative' reporting

Provincial Information Minister Shazia Mari on Friday flayed electronic media for televising a report on dancing officials of Sindh Information Department during an event, which the department had organised in connection with the 84th birthday anniversary
Published 07 Jan, 2012 12:00am
Tension grips city after killing of political workers

Tension grips city after killing of political workers

Several parts of the metropolis on Friday fell into the strong grip of tension where social and commercial activity remained suspended since the killing of political workers in separate incidents on Thursday. According to police and eye-witnesses, the bod
Published 07 Jan, 2012 12:00am
Clarification

Clarification

Apropos a news item "Tourism dept stops funds: work halted on Gorakh Hills Station Site", carried by Business Recorder on December 20, 2011, the Sindh government has clarified that an amount of Rs 62.500 million was released by it during the curren
Published 07 Jan, 2012 12:00am
NIC-NTN issue: FPCCI urges FBR to hold meeting with trade bodies

NIC-NTN issue: FPCCI urges FBR to hold meeting with trade bodies

Former President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Iftikhar Ali Malik has urged Federal Board of Revenue (FBR) to keep the condition of collecting NIC and NTN copies at the time of sale of goods to non-registered person an
Published 07 Jan, 2012 12:00am
Moot on climate change today

Moot on climate change today

A seminar on environmental issues would be organised at the NED University of Engineering and Technology here on Saturday (today). An announcement on Friday said that the topic of the moot is "Effect of climate change globally and its impact specially in
Published 07 Jan, 2012 12:00am
'NIB Solutions' launched

'NIB Solutions' launched

NIB bank proudly announces the launch of a new approach to customised banking for retail/SME Clients - 'NIB Solutions'. Commenting on the major launch campaign to promote the same, Shahid Sattar, Head of Retail, SME & Commercial Banking said, "the launch
Published 07 Jan, 2012 12:00am
Cholistan jeep rally from February 16

Cholistan jeep rally from February 16

A meeting was held in connection with a Cholistan jeep rally at Tourism Development Corporation (TDCP) on Friday. The meeting was chaired by TDCP Managing Director Saad Ahsan Khan and many decisions were taken for the Cholistan jeep rally. The meeting was
Published 07 Jan, 2012 12:00am
'Women can play major role in economic development'

'Women can play major role in economic development'

Good Will Ambassador for Women Empowerment Fiza Gilani said that women could play major role in economic development of the country. In an exclusive interview with PTV on Friday, she said, "Agriculture is backbone of our economy and more female workers ar
Published 07 Jan, 2012 12:00am
Nawaz calls for APC on Balochistan issues

Nawaz calls for APC on Balochistan issues

PML-N chief Nawaz Sharif has stressed the need to call all parties conference to review and resolve Balochistan issues. He was addressing political workers and media persons after meeting with National Party leadership, including NP chief Senator Dr Abdul
Published 07 Jan, 2012 12:00am
Pakistan participates in Thailand BoI Fair

Pakistan participates in Thailand BoI Fair

Pakistan is participating in the Thailand BoI Fair, with presentations focusing on the country's investment opportunities in sectors including infrastructure, energy, textiles, food processing, gems and jewellery. The Fair was inaugurated by Princess Maha
Published 07 Jan, 2012 12:00am
LCCI for immediate restoration of gas supply

LCCI for immediate restoration of gas supply

A five-member LCCI delegation led by President Irfan Qaiser Sheikh Friday had an hour-long meeting with federal minister for petroleum and natural resources, Dr Asim Hussain here at SNGPL offices. During the meeting, Irfan Qaiser Sheikh urged the federal
Published 07 Jan, 2012 12:00am
Smuggled cigarettes seized

Smuggled cigarettes seized

Huge stocks of smuggled cigarettes worth billions of rupees have been confiscated from eight warehouses in a grand operation headed by Kashif Mir SHO Mochi Gate. Warehouses owners of smuggled cigarettes at Shah Alam Market Muhammad Saeed and Sajid Khan of
Published 07 Jan, 2012 12:00am
GSK's 'Orange Day' an uplifting, motivating volunteer event

GSK's 'Orange Day' an uplifting, motivating volunteer event

"There should be no room for hopelessness; life is full of opportunities and we should maximise them," exclaimed Areeba, a matriculation student from the SOS Village School, Malir Halt and a participant in the Orange Day celebrated by GlaxoSmithKline Paki
Published 07 Jan, 2012 12:00am
PTA condemns 'discriminatory' suspension of gas

PTA condemns 'discriminatory' suspension of gas

Chairman Pakistan Tanners Association (PTA) Northern Zone, Khawaja Muhammad Mehr Ali on Saturday strongly condemned discriminatory suspension of gas supply to the Punjab industries including the leather tanneries, which are already facing numerous challen
Published 07 Jan, 2012 12:00am
LHC judge imposes fine on SHO

LHC judge imposes fine on SHO

Justice Ijaz Ahmed of the Lahore High Court (LHC) on Friday imposed a fine of Rs 35,000 on SHO Police Station Iqbal Town Lahore for not abiding by the court orders for registration of a FIR. The court directed the SHO, Qamar Abbas, to pay the fine to the
Published 07 Jan, 2012 12:00am
Tourism sector: Improved security boosts confidence

Tourism sector: Improved security boosts confidence

Improvement in security situation in the country has boosted confidence of tourism experts who have called for organising mega events to improve foreign tourists' flow. Scenic sites mostly located in hilly areas where first snowfall of the season has occu
Published 07 Jan, 2012 12:00am
Nobody will dare to take extra-judicial step: CJP

Nobody will dare to take extra-judicial step: CJP

Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry has said that nobody would dare to take extra judicial step in the country and there only will be rule of law. Speaking at a ceremony on Friday, the CJ said that those who were speculating about
Published 07 Jan, 2012 12:00am
'Taliban kill ANP leader'

'Taliban kill ANP leader'

Chief of Peace Committee of Swat, Saifullah Khan has said that the Karachi based ANP leader Said Ahmad Khan has been killed by the Taliban of Swat. Talking to media in Swat, he said that the person killed in encounter on the occasion in Karachi was a Tali
Published 07 Jan, 2012 12:00am
World community urged to help resolve Kashmir dispute

World community urged to help resolve Kashmir dispute

The Kashmir Institute of Strategic Studies has urged the Obama Administration and world community to help resolve the long standing Kashmir dispute in accordance with the aspirations of Kashmiri people. Kashmir Institute of Strategic Studies' Director Kha
Published 07 Jan, 2012 12:00am
Seminar

Seminar

Press Council of Pakistan (PCP) Chairman Shafquat Abbasi has underlined the need for capacity building of journalists reporting on court issues, especially investigative journalists. He was speaking at a seminar on 'Media Ethics and Court Reporting' held
Published 07 Jan, 2012 12:00am
Government urged to keep PAL under Cabinet Division

Government urged to keep PAL under Cabinet Division

Writers and poets of the country have urged the government to keep Pakistan Academy of Letters (PAL) under the Cabinet Division, with Prime Minister of Pakistan directly supervising the academy so that the honour of Pakistani writers and poets is upheld.
Published 07 Jan, 2012 12:00am
Pemra raids cable TV networks

Pemra raids cable TV networks

PEMRA enforcement teams raided numbers of cable TV networks in various parts of country on Thursday, in a bid to stop illegal satellite and CD channels shown by the cable operators despite repeated warnings to stop them. PEMRA press release stated that ex
Published 07 Jan, 2012 12:00am
Sub-inspector martyred, eight militants held

Sub-inspector martyred, eight militants held

One police official was martyred and eight militants were apprehended during an encounter between militants and law-enforcement agencies in Bakhshali area of Mardan district, police official informed here on Friday. The law enforcement agencies were condu
Published 07 Jan, 2012 12:00am
IP gas pipeline project

IP gas pipeline project

The Economic Co-ordination Committee (ECC) of the Cabinet, the highest economic decision-making body in the country, has approved in principle the appointment of a consortium led by Industrial and Commercial Bank of China as financial advisor of the Iran-
Published 07 Jan, 2012 12:00am
Slow and unsteady response

Slow and unsteady response

Islamabad has woken up rather late in the day to challenge, in the International Court of Arbitration, a decision of the UN Framework Convention on Climate Change (UNFCCC) to grant carbon credit to India on the controversial Nimoo-Bazgo hydropower project
Published 07 Jan, 2012 12:00am
That elusive agriculture tax

That elusive agriculture tax

It was the same old story of obfuscation regarding the agriculture tax implementation at the National Finance Commission meeting. According to a Business Recorder report, Federal Minister for Finance Dr Hafeez Sheikh expressed concern over the pr
Published 07 Jan, 2012 12:00am
Assumptions in economics

Assumptions in economics

It was at one of the marriage functions where most of the economists were present. I did venture Guy Fox type suggestion. If you would recall that he was the guy that plotted to blow up the British Parliament. The suggestion did not go well with the econo
Published 07 Jan, 2012 12:00am
Industrial relations in wrong directions

Industrial relations in wrong directions

The older I grow the more I distrust the familiar doctrine that age brings wisdom. Labour laws are begot by bad actions. At one time in our country, a famous German proverb "If the old dog barks, he gives counsel" applied in full force. Not so any more. H
Published 07 Jan, 2012 12:00am
Singapore sacrifices growth for fewer foreigners

Singapore sacrifices growth for fewer foreigners

They mow the lawns, prune the trees and man the busy construction sites all over town. They are maids, waitresses and office assistants. And then there are the white-collar workers in finance, business and shipping. For decades, Singapore has been depende
Published 07 Jan, 2012 12:00am
The joint statement of US senators

The joint statement of US senators

Three US senators, John McCain, Mark Kirk and Joe Lieberman in a joint statement on January 5, 2012 stated: "We urge Pakistan authorities to resolve this matter swiftly and consistent with civilian rule of law and to prevent the judicial commission invest
Published 07 Jan, 2012 12:00am
Dawlance introduces one-touch cooking solution

Dawlance introduces one-touch cooking solution

Dawlance, the No 1 home appliances brand in Pakistan recently added another innovative product to their Health Zone technology range; the DW115 CHZ microwave, which provides the convenience of cooking with the touch of a single button. A recent study cond
Published 07 Jan, 2012 12:00am
Petitioner seeks release of prisoners 'arrested' by agencies

Petitioner seeks release of prisoners 'arrested' by agencies

A constitutional petition filed in the Supreme Court (SC) on Friday sought a release order for prisoners who were allegedly handed over to country's premier spy agency and military intelligence soon after their acquittal from Anti Terrorism Court (ATC) Ra
Published 07 Jan, 2012 12:00am
Khyber Pakhtunkhwa plans sports centre for youths

Khyber Pakhtunkhwa plans sports centre for youths

Khyber Pakhtunkhwa, Minister for Sports and Tourism, Syed Aqil Shah on Friday said that government has planned to establish modern standard sports training centre for youth in the province, saying they are keenly focusing to pass on all benefits to people
Published 07 Jan, 2012 12:00am
Sindh government takes decision on prison in Badin

Sindh government takes decision on prison in Badin

Sindh government has decided in principle to re-open the open prison of Badin, superintendent has been posted, Business Recorder learnt on Friday. This decision has been taken in a meeting held with the Minister for Prisons and Law Ayaz Soomro here
Published 07 Jan, 2012 12:00am
PICG conference

PICG conference

Pakistan Institute of Corporate Governance (PICG) in collaboration with European Management Development Institute (EMADIN) is organising a conference and workshop on 'The Changing Role of the Company Secretary' on January 11-12, 2012, PC Hotel in Karachi.
Published 07 Jan, 2012 12:00am
IT returns, WHT statements filing: FBR to implement enforcement plan

IT returns, WHT statements filing: FBR to implement enforcement plan

The Federal Board of Revenue (FBR) has to implement a national enforcement plan (2012) to enforce filing of income tax returns and withholding tax statements for the tax year 2011 by the non-filers and defaulted units, including companies, business units,
Published 07 Jan, 2012 12:00am
'Khyber Pakhtunkhwa achieves self-sufficiency in wheat seeds production'

'Khyber Pakhtunkhwa achieves self-sufficiency in wheat seeds production'

Khyber Pakhtunkhwa Minister for Agriculture Ayub Jan on Friday said that the province has become self-sufficient in production of the seeds of wheat, adding that four to five certified varieties of seed are available and KP would no more remain dependent
Published 07 Jan, 2012 12:00am
Photo exhibition on January 9 to depict Pak-German cooperation

Photo exhibition on January 9 to depict Pak-German cooperation

A photo exhibition would be organised here from January 9 to depict the Pak-German development co-operation over the past five decades. This was stated by an official of the Consulate General of the Federal Republic of Germany in Karachi on Friday.
Published 07 Jan, 2012 12:00am
US MIDDAY: gold flat

US MIDDAY: gold flat

Gold traded near unchanged on Friday as the market took a breather following a five-session winning streak, but trade was choppy after a report confirming better US job growth and the unemployment rate near a three-year low. The metal is on track to post
Published 07 Jan, 2012 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper edged higher on Friday in a muted response to better-than-forecast US employment data that offered further evidence that a recovery in the world's largest economy was on track. In New York, the key March COMEX contract settled with a 0.85-cent gain
Published 07 Jan, 2012 12:00am
US MIDDAY: corn rebounds

US MIDDAY: corn rebounds

US corn futures edged higher on Friday, stabilising after Thursday's steep slide amid renewed concerns about dry weather hurting crops in South America. Chicago Board of Trade corn for March delivery gained 0.5 percent, or 3 cents, to $6.46-1/2 a bushel a
Published 07 Jan, 2012 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Friday as a stronger dollar and worries over Europe's debt crisis knocked appetite for bullion, overshadowing upbeat jobs data from the United States that pointed to better growth across the Atlantic. Spot gold fell 0.62 percent to $1,612.69
Published 07 Jan, 2012 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold traded steady on Friday as investors nervous over the eurozone debt crisis sought safety in bullion, offsetting a firm dollar. Spot gold edged up 0.3 percent to $1,626.84 an ounce by 0625 GMT, on course for a weekly rise of 3.7 percent, its strongest
Published 07 Jan, 2012 12:00am
Gold rises in New York

Gold rises in New York

Gold rose on Thursday, breaking ranks with the euro for a second straight day, as a rise in US equity markets on economic optimism sent bullion to a fifth straight day of gains. The metal reversed initial losses that were triggered by a more than 1 percen
Published 07 Jan, 2012 12:00am
Robusta coffee at 14-month low

Robusta coffee at 14-month low

Liffe's robusta coffee futures fell to the lowest level in more than a year on Friday on harvest pressure in top grower Vietnam, while arabica reversed higher in late dealings after feeling earlier pressure from the strong US dollar. Cocoa and sugar futur
Published 07 Jan, 2012 12:00am
Palm oil gains

Palm oil gains

Malaysian crude palm oil futures gained on Friday as prospects of erratic weather hurting production overshadowed renewed worries about the eurozone debt crisis. The focus is on dry weather in South America hurting soy yields and prospects of heavy Southe
Published 07 Jan, 2012 12:00am
Grains tumble

Grains tumble

Grains tumbled on Thursday as investors fled risk assets to safe havens like the dollar on renewed concern over the eurozone debt crisis, with wheat slumping over 3 percent, the biggest drop in almost two months. Corn futures at the Chicago Board of Trade
Published 07 Jan, 2012 12:00am
Tokyo rubber futures flat

Tokyo rubber futures flat

Key Tokyo rubber futures were little changed on Friday in thin trade with investors nervous over the eurozone debt crisis and steering clear of risk assets. The key Tokyo Commodity Exchange rubber contract for June delivery settled down 0.2 yen at 267.9
Published 07 Jan, 2012 12:00am
Oil prices slip

Oil prices slip

Oil prices fell on Friday in choppy trading pressured by the dollar's strength on better-than-expected US jobs growth and by concerns about Europe's economy even as anxiety over Iran and potential supply disruptions supported crude futures. Brent prices s
Published 07 Jan, 2012 12:00am
Copper moves up

Copper moves up

Copper rose on Friday after better-than-forecast labour market data from the United States raised optimism about the economic health of the world's largest economy, but gains were capped by a strong dollar. Benchmark copper on the London Metals Exchange e
Published 07 Jan, 2012 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.29 percent to 55,900 yuan ($8,900 a tonne on Friday. "The Chinese economy is not going in for a hard landing so there's still a degree of demand we ought to factor in from Ch
Published 07 Jan, 2012 12:00am
New York cotton posts little gains

New York cotton posts little gains

Cotton futures ended on Thursday with moderate losses, but held onto the higher levels achieved during the first two sessions of 2012, as investors paused to absorb the recent gains. Benchmark March cotton futures finished with 1.18 cent gains at 94.74 ce
Published 07 Jan, 2012 12:00am
Latest Egypt vote brings Islamists closer to win

Latest Egypt vote brings Islamists closer to win

The Muslim Brotherhood won more than a third of the votes in the last stage of elections for Egypt's lower house of parliament, according to partial results on Friday, which show the Islamists are set to dominate the legislature. Banned under deposed Pres
Published 07 Jan, 2012 12:00am
Famed quiz show host, early James Bond, dies

Famed quiz show host, early James Bond, dies

Famed British quiz show host Bob Holness, who also starred as an early incarnation of James Bond, has died at the age of 83. Holness' family said Friday that the South Africa-born entertainer "passed away peacefully in his sleep." Holness was born in KwaZ
Published 07 Jan, 2012 12:00am
Suicide bomb kills 26 in Syria

Suicide bomb kills 26 in Syria

A suicide bomber killed 26 people and wounded 63 in Damascus on Friday, Syria's interior minister said, vowing an "iron fist" response to the carnage in the heart of the Syrian capital after similar attacks two weeks ago. The blast came two days before an
Published 07 Jan, 2012 12:00am
Tymoshenko's husband seeks asylum in Czech Republic

Tymoshenko's husband seeks asylum in Czech Republic

The husband of Ukraine's jailed opposition leader Yulia Tymoshenko has sought asylum in the Czech Republic as Ukrainian authorities step up pressure on her family, her party said. Former Prime Minister Tymoshenko was sentenced in October to seven years in
Published 07 Jan, 2012 12:00am
Euro likely to survive 2012: IMF

Euro likely to survive 2012: IMF

The euro is likely to survive 2012 despite the debt crisis in the euro currency zone, International Monetary Fund Managing Director Christine Lagarde said on Friday. European leaders will hold another summit this month to try to resolve the crisis which t
Published 07 Jan, 2012 12:00am
Explosions kill six Afghan children, five Nato troops

Explosions kill six Afghan children, five Nato troops

Explosives hidden in a trash heap killed six children in southern Afghanistan on Friday, police said, and five Nato troops were killed in roadside bombings in the volatile region. The children were rummaging through the trash for food scraps and bottles i
Published 07 Jan, 2012 12:00am
US Navy rescues Iranians held hostage by pirates

US Navy rescues Iranians held hostage by pirates

A US Navy ship has rescued 13 Iranians held hostage by Somali pirates for weeks in the Arabian sea, US military officers said Friday. The USS Kidd, a destroyer, responded to a distress call from an Iranian-flagged fishing vessel and a Navy team boarded th
Published 07 Jan, 2012 12:00am
Santorum gains, Romney holds New Hampshire lead

Santorum gains, Romney holds New Hampshire lead

Fresh from his strong showing in Iowa, Republican US presidential candidate Rick Santorum has picked up support in New Hampshire ahead of its primary next week, but rival Mitt Romney holds a sizeable lead, according to a poll released on Friday. Santorum,
Published 07 Jan, 2012 12:00am
Global economy could endure disaster for a week

Global economy could endure disaster for a week

The global economy could withstand widespread disruption from a natural disaster or attack by militants for only a week as governments and businesses are not sufficiently prepared to deal with unexpected events, a report by a respected think-tank said.
Published 07 Jan, 2012 12:00am
Suu Kyi, UK's Hague in tune on sanctions

Suu Kyi, UK's Hague in tune on sanctions

British Foreign Secretary William Hague and Myanmar's pro-democracy leader, Aung San Suu Kyi, set out similar conditions for the lifting of sanctions imposed on the country under the previous military regime at an historic meeting on Friday. Western count
Published 07 Jan, 2012 12:00am
Anti-euro Finns take backseat in presidential poll

Anti-euro Finns take backseat in presidential poll

Finnish voters look set to elect veteran conservative Sauli Niinisto as their next president as anti-euro sentiment takes a backseat to economic concerns. The former finance minister from the National Coalition party, with around 40 percent support in pol
Published 07 Jan, 2012 12:00am
UN criticises sharp rise in Saudi executions

UN criticises sharp rise in Saudi executions

The UN's human rights office has criticised a sharp rise in executions carried out by Saudi Arabia in 2011. A spokesman for the UN's High Commissioner for Human Rights says the number of executions jumped from 29 in 2010 to at least 70 last year. Rupert C
Published 07 Jan, 2012 12:00am
Kenyan jets kill 50 Shabaab fighters

Kenyan jets kill 50 Shabaab fighters

Kenyan jets bombed an al Shabaab camp in southern Somalia on Friday killing 50 fighters of the rebel group and injuring 60 others, its military spokesman said. Emmanuel Chirchir told Reuters the fighters of the al Qaeda-linked al Shabaab group at the camp
Published 07 Jan, 2012 12:00am
Hackers hit ArcelorMittal's Belgian website

Hackers hit ArcelorMittal's Belgian website

The online piracy group Anonymous hacked into the Belgian website of industrial giant ArcelorMittal on Friday, posting a video to protest the closure of two blast furnaces in Belgium. "Anonymous has done its work by attacking the ArcelorMittal site and, a
Published 07 Jan, 2012 12:00am
Bombers strike pilgrims, Iraqi military parades

Bombers strike pilgrims, Iraqi military parades

Roadside bombs in Baghdad killed two pilgrims and wounded 17 others headed for a Shia religious rite on Friday, security sources said, amid a political crisis that has renewed fears of sectarian violence. The bombings followed a suicide attack on pilgrims
Published 07 Jan, 2012 12:00am
Poll shows Germans want scandal-hit president to stay

Poll shows Germans want scandal-hit president to stay

Most Germans want President Christian Wulff to stay in office even if many were not convinced by his attempts this week to defuse the uproar over his efforts to quash an embarrassing newspaper story, a poll showed on Friday. The survey for public broadcas
Published 07 Jan, 2012 12:00am
US widens its definition of rape

US widens its definition of rape

The United States widened its definition of rape on Friday to include assaults on men for the first time and those in which a victim is incapacitated by drugs or alcohol. In a statement, the Department of Justice said the revision will improve the accurac
Published 07 Jan, 2012 12:00am
China must assert itself despite new US strategy

China must assert itself despite new US strategy

China must not give up on its security presence in Asia in the face of a major US strategic shift into the region, a Chinese newspaper said on Friday, although US allies and analysts said China had nothing to fear from the new policy. The US defence strat
Published 07 Jan, 2012 12:00am
Iran plans new manoeuvres in Hormuz Strait

Iran plans new manoeuvres in Hormuz Strait

Iran announced plans on Friday to hold new naval exercises in the Strait of Hormuz next month, the latest in a series of forceful gestures in the world's most important oil shipping lane at a time when new sanctions threaten Tehran's exports.
Published 07 Jan, 2012 12:00am
Iran close to starting nuclear work in bunker: diplomats

Iran close to starting nuclear work in bunker: diplomats

Iran has taken steps in recent weeks that bring it closer to launching uranium enrichment deep inside a mountain, diplomatic sources say, a move that would worsen its nuclear confrontation with the West. Iran has said for months that it is preparing to co
Published 07 Jan, 2012 12:00am
'Saudi' hacker targets Israel with Trojan horse virus

'Saudi' hacker targets Israel with Trojan horse virus

A self-defined "Saudi hacker" who twice this week posted details of thousands of Israeli credit cards hit again on Friday with a new Internet file containing a Trojan horse virus, public radio said. According to the report, the hacker who goes by the name
Published 07 Jan, 2012 12:00am
Party of Mandela, ANC marks 100 years

Party of Mandela, ANC marks 100 years

South Africa's mighty African National Congress on Friday began celebrations for its centenary, still firmly at the helm of Nelson Mandela's all-race democracy despite losing some of its shine. Africa's oldest liberation movement expects 46 heads of state
Published 07 Jan, 2012 12:00am
Australia crush India to take 2-0 lead

Australia crush India to take 2-0 lead

Australia crushed India by an innings and 68 runs in the second Test in Sydney on Friday to take a 2-0 lead in the series and leave Sachin Tendulkar still waiting for his 100th international ton. The home side's big breakthrough came when Tendulkar was di
Published 07 Jan, 2012 12:00am
Ajmal working on secret delivery

Ajmal working on secret delivery

Pakistan offspinner Saeed Ajmal says he's working on a secret delivery to surprise England's batsmen in this month's Test series. Ajmal took 50 wickets in eight Tests last year and often surprises batsmen with a doosra, a ball that drifts away from right-
Published 07 Jan, 2012 12:00am
Federer pulls out of Qatar Open

Federer pulls out of Qatar Open

Roger Federer's hopes of a fourth successive title came to a premature end when he withdrew from the Qatar Open with a bad back here Friday. The back spasms Federer felt during matches with Greg Zemlja and Andreas Seppi have not gone away despite treatmen
Published 07 Jan, 2012 12:00am
Misbah eyes more wins in 2012

Misbah eyes more wins in 2012

Pakistan's cricket captain Misbah-ul Haq was full of confidence his fast-rising team will have more success in 2012 after overcoming a spot-fixing scandal and remaining unbeaten last year. "Through hard work of all the players we had a good 2011 and I hop
Published 07 Jan, 2012 12:00am
Kvitova too good for Wozniacki

Kvitova too good for Wozniacki

Petra Kvitova helped the Czech Republic reach the Hopman Cup final on Friday, defeating world number one Caroline Wozniacki in another sign the Dane's days at the top may be numbered. The most-anticipated match of the tournament lived up to expectations,
Published 07 Jan, 2012 12:00am
Pakistan promises top security for Bangladesh squad

Pakistan promises top security for Bangladesh squad

Pakistan cricket authorities have received assurances from the government that top-level security will be provided to Bangladesh during their April tour of the country. International cricket has been suspended in Pakistan since terrorist attacks on the Sr
Published 07 Jan, 2012 12:00am
Guardiola named coach of the year by IFFHS

Guardiola named coach of the year by IFFHS

Barcelona's Pep Guardiola was on Friday elected coach of the year for 2011 by the International Federation of Football History and Statistics (IFFHS). Guardiola, who won the league, the Champions League and the FIFA Club World Cup with Barca last year, pr
Published 07 Jan, 2012 12:00am
South Africa beat Sri Lanka to clinch series

South Africa beat Sri Lanka to clinch series

South Africa beat Sri Lanka by ten wickets to clinch the series 2-1 on the fourth day of the third and final Test at Newlands on Friday, despite a fighting century by Thilan Samaraweera. Samaraweera's 115 not out and some bold hitting by the tailenders en
Published 07 Jan, 2012 12:00am
No IPL matches in Sri Lanka

No IPL matches in Sri Lanka

The Indian Premier League released its 2012 tournament schedule on Friday, confirming that no matches will be played in Sri Lanka despite a request from the island's cricket authorities. Upali Dharmadasa, the new president of Sri Lanka Cricket, said earli
Published 07 Jan, 2012 12:00am
FIFA draw line under FC Sion row

FIFA draw line under FC Sion row

Manchester United's distant hopes of being thrown a Champions League lifeline were shattered on Friday with the news that FIFA had decided not to take disciplinary action against the Swiss Football Federation (SVF). The sport's world governing body had th
Published 07 Jan, 2012 12:00am
Australian and New Zealand dollars down

Australian and New Zealand dollars down

The Australian and New Zealand dollars grudgingly gave ground to the greenback on Friday as upbeat US data lifted the US currency across the board, but they remained buoyant on the euro amid fresh bank worries in Europe. The Aussie was stuck at $1.0251 in
Published 07 Jan, 2012 12:00am
Liquidity glut pushes interbank rates lower

Liquidity glut pushes interbank rates lower

Interbank rates hit their lowest in nearly nine months on Friday, weighed down by a glut of liquidity in the euro system but interbank lending remains largely frozen as the eurozone debt crisis batters investor confidence. Italian bank UniCredit did littl
Published 07 Jan, 2012 12:00am
Yuan at lowest in a week

Yuan at lowest in a week

China's yuan hit its lowest point in more than a week on Friday after the central bank set a weaker mid-point for the second straight day following a surge in the dollar overnight. Spot yuan closed slightly down at 6.3095 per dollar against Thursday's clo
Published 07 Jan, 2012 12:00am
North Korea rumours hit won

North Korea rumours hit won

The won led losses in most emerging Asian currencies on Friday, rattled by rumours of an incident at North Korea's nuclear facilities, though some of the units managed to post weekly gains, suggesting appetite for the regional assets still exists.
Published 07 Jan, 2012 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee closed stronger on Friday, ending the week with a 0.7 percent gain as foreign investors bought local debt, but analysts said the local unit will remain under pressure in the near term. The partially convertible rupee ended at 52.7150/7250
Published 07 Jan, 2012 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc inched lower against the euro and the dollar on Friday as investors awaited Swiss inflation data that could highlight deflation risks and trigger a new round of speculation about a shift in the SNB's euro-franc floor. The Swiss National Ba
Published 07 Jan, 2012 12:00am
Euro sinks in New York

Euro sinks in New York

The euro tumbled to its lowest level against the dollar in more than a year and hit an 11-year trough versus the yen on Thursday as investors worried about the ability of eurozone economies and banks to raise funding. The dollar was also buoyed by data sh
Published 07 Jan, 2012 12:00am
Early trade in New York: Euro hits 16-month low

Early trade in New York: Euro hits 16-month low

The euro hit a near 16-month low against a robust dollar on Friday as investors looked at sovereign funding concerns in Europe and compared the economic outlook for the eurozone to an improving US recovery. The dollar got a big boost against most major cu
Published 07 Jan, 2012 12:00am
Euro tumbles in London

Euro tumbles in London

The euro hit 16-month lows against a robust dollar on Friday with growing unease about funding pressures in the eurozone and an improving US economic outlook pointing to further gains for the greenback at the expense of the common currency. US payrolls da
Published 07 Jan, 2012 12:00am
Euro falls in Asia

Euro falls in Asia

The euro hit 16-month lows against the dollar and sterling on Friday and hovered near an 11-year low versus the yen, with further declines seen in store for the embattled single currency. Market players said little relief was in sight for the euro, with n
Published 07 Jan, 2012 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

Sterling hit a fresh 16-month high against the euro on Friday and looked set to stay supported as investors concerned about eurozone sovereign funding pressures headed for the relative safety of the UK currency. However, the pound fell versus the dollar,
Published 07 Jan, 2012 12:00am
Oils keep FTSE up

Oils keep FTSE up

Britain's top share index held onto gains on Friday, largely thanks to integrated oils which were helped by a bullish note by Macquarie, as banks and miners wavered after US jobs data drew a mixed reception. London's blue chip index closed up 25.42 points
Published 07 Jan, 2012 12:00am
European shares chalk up third week of gains

European shares chalk up third week of gains

European shares ended little changed on Friday, with many investors happy to cash in on three weeks of gains ahead of the start of the US fourth-quarter earnings season on Monday. The FTSEurofirst 300 index of European shares ended the day up 0.03 percent
Published 07 Jan, 2012 12:00am
China shares suffer ninth straight weekly loss; Hong Kong up

China shares suffer ninth straight weekly loss; Hong Kong up

Shanghai shares rose on Friday but posted their ninth-straight weekly loss on concerns about China's cooling economy, while Hong Kong stocks fell more than 1 percent and looked set for further losses as traders eyed Europe's festering debt crisis.
Published 07 Jan, 2012 12:00am
Indian shares reverse losses

Indian shares reverse losses

Indian shares erased losses in late trade to end marginally higher on Friday, snapping two days of losses, led by buying in index heavyweight Reliance Industries, even as investors stayed cautious in anticipation of company results beginning next week.
Published 07 Jan, 2012 12:00am
Long-dated Treasuries fall

Long-dated Treasuries fall

Long-dated US Treasury debt prices fell on Thursday as investors pared bond holdings in advance of a key government jobs report, which might top expectations following recent data suggesting a resilient US economy. "Equities are doing better, but there's
Published 07 Jan, 2012 12:00am
Long-dated Treasuries fall

Long-dated Treasuries fall

Long-dated US Treasury debt prices fell on Thursday as investors pared bond holdings in advance of a key government jobs report, which might top expectations following recent data suggesting a resilient US economy. "Equities are doing better, but there's
Published 07 Jan, 2012 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 0.15 percent on Friday as investors remained cautious before the presidential vote next week, but Apple suppliers such as Catcher Technology rose on brisk growth in December sales. The main TAIEX index closed 10.35 points down at 7,120.
Published 07 Jan, 2012 12:00am
Wall Street buoyed by rallying bank shares

Wall Street buoyed by rallying bank shares

Banks led Wall Street to gains on Thursday even as Europe struggled again, a sign investors are betting a relatively strong US economy will help US stocks outperform other markets. Overall gains were small, but banks advanced for a third day, supported by
Published 07 Jan, 2012 12:00am
Friday's afternoon trade: stocks slightly lower

Friday's afternoon trade: stocks slightly lower

US stocks were slightly lower on Friday as investors were pulled in a tug-of-war between strong domestic data and continued concerns about Europe's debt crisis. The US economy added 200,000 jobs in December, topping forecasts, and the jobless rate fell to
Published 07 Jan, 2012 12:00am
Nikkei falls 1.2 percent

Nikkei falls 1.2 percent

Japan's Nikkei share average slipped more than 1 percent on Friday, backing further away from its 25-day moving average as investors fretted over the eurozone debt crisis and weakness in the single currency. "For Japan's market participants, the euro rate
Published 07 Jan, 2012 12:00am
Seoul shares down

Seoul shares down

Seoul shares closed down Friday as institutional investors abandoned the market, but trimmed losses after briefly extending falls on unsubstantiated rumours of a possible downgrade to France's credit rating and a North Korean nuclear accident. "Rumours ab
Published 07 Jan, 2012 12:00am
South East Asian markets retreat

South East Asian markets retreat

Southeast Asian stock markets retreated on Friday as investors became nervous ahead of US job data later in the day but they ended the first week of the year with modest gains. Non-farm payrolls due later on Friday are expected to show 150,000 jobs were a
Published 07 Jan, 2012 12:00am
US job growth quickens; unemployment near three-year low

US job growth quickens; unemployment near three-year low

US employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5 percent, offering the strongest evidence yet the economic recovery was gaining steam. Nonfarm payrolls increased 200,000 in December, the Labour Depar
Published 07 Jan, 2012 12:00am
Swiss central banker fails to calm currency scandal

Swiss central banker fails to calm currency scandal

Switzerland's biggest political party on Friday piled fresh pressure on the embattled head of the country's central bank to quit over a currency trade scandal. Swiss media said Philipp Hildebrand had failed to defuse the crisis when he pledged at a news c
Published 07 Jan, 2012 12:00am
PwC hit with record fine for UK audit failures

PwC hit with record fine for UK audit failures

Top auditor PricewaterhouseCoopers has been fined a record 1.4 million pounds ($2.2 million) in Britain for wrongly telling local regulators for seven years that J.P. Morgan Securities was keeping client money safe. The case brought by the Accountancy and
Published 07 Jan, 2012 12:00am
Obama aims to unfreeze federal pay in budget

Obama aims to unfreeze federal pay in budget

President Barack Obama will propose lifting a pay freeze for US federal workers in his budget plan to be unveiled next month to give government employees a 0.5 percent pay rise, a White House official said on Friday. The increase, which would end a two-ye
Published 07 Jan, 2012 12:00am
Key Irish developer takes UK bankruptcy route

Key Irish developer takes UK bankruptcy route

A property developer who was last year ordered by an Irish court to repay some 300 million euros ($383.8 million) to Ireland's so-called bad bank has been declared bankrupt in Britain, insolvency papers showed on Friday. Raymond Grehan, who with brother D
Published 07 Jan, 2012 12:00am
EU medicines head urges tougher implant rules

EU medicines head urges tougher implant rules

The new head of Europe's drugs watchdog said on Friday there was an acute need to tighten regulations on medical devices, adding to pressure for radical change in the wake of a global scandal over French-made breast implants. "I see an urgent need to regu
Published 07 Jan, 2012 12:00am
Eurozone retail sales, sentiment point to mild recession

Eurozone retail sales, sentiment point to mild recession

Eurozone retail sales fell and economic sentiment soured at the end of 2011, pointing to recession in the months ahead, but the first improvement in the business climate in 10 months offered hope that the expected downturn may be mild. Europe's worsening
Published 07 Jan, 2012 12:00am
Smartphones power Samsung to record profit

Smartphones power Samsung to record profit

Samsung Electronics, the world's top maker of memory chips and smartphones, reported a record quarterly profit on Friday, aided by one-off gains and best-ever sales of high-end phones. The South Korean firm, which surged past Apple as the world's top smar
Published 07 Jan, 2012 12:00am
ECB's Orphanides wants banks off Greece bailout hook

ECB's Orphanides wants banks off Greece bailout hook

European Central Bank policymaker Athanasios Orphanides called for euro zone leaders to abandon plans to make private sector investors help reduce Greece's debts, but his push showed no sign of gaining any traction in Europe's capitals on Friday.
Published 07 Jan, 2012 12:00am
Woodford to sue Olympus, drops CEO bid

Woodford to sue Olympus, drops CEO bid

The ousted British CEO of disgraced Olympus Corp, who blew the whistle on a $1.7 billion accounting fraud, dropped his bid to return to lead the medical device maker, blaming cosy ties between its management and big Japanese shareholders and saying the sa
Published 07 Jan, 2012 12:00am
Canada adds jobs in December, but jobless rate up

Canada adds jobs in December, but jobless rate up

Canada gained 17,500 jobs in December, but the jobless rate rose and the new positions were all part time, further evidence its post-recession hiring surge has ended even as US jobs growth finally picks up the pace. Statistics Canada data on Friday showed
Published 07 Jan, 2012 12:00am
World fertiliser demand to rise three percent in 2011-12

World fertiliser demand to rise three percent in 2011-12

World demand for fertilisers will rise again this season to hit a new record level, driven by growth in emerging economies and strong fundamentals in agricultural markets, the International Fertiliser Industry Association (IFA) said on Thursday. Fertilise
Published 07 Jan, 2012 12:00am
Argentina, Kazakhstan next frontiers: Templeton's Mobius

Argentina, Kazakhstan next frontiers: Templeton's Mobius

Templeton mutual fund's emerging markets investment boss will focus on frontier markets like Argentina and Kazakhstan in 2012, particularly in the banking and oil and gas sectors, he said on Thursday.
Published 07 Jan, 2012 12:00am
Argentina, Kazakhstan next frontiers: Templeton's Mobius

Argentina, Kazakhstan next frontiers: Templeton's Mobius

Templeton mutual fund's emerging markets investment boss will focus on frontier markets like Argentina and Kazakhstan in 2012, particularly in the banking and oil and gas sectors, he said on Thursday.
Published 07 Jan, 2012 12:00am
Mexico consumer confidence hits three-month low

Mexico consumer confidence hits three-month low

Mexican consumer confidence slipped to a three-month low in December as shoppers in Latin Ame rica's second-biggest economy reined in spending over the holiday period, data showed on Friday. Mexico's consumer confidence index fell to 90.9 points, adjusted
Published 07 Jan, 2012 12:00am
Prices continue upward march on cotton market

Prices continue upward march on cotton market

Continued buying by mills and exporters, and unprecedented rise in the dollar value boosted prices on the cotton market on Friday, dealers said. The official spot rate maintained upward trend, raising by Rs 50 to Rs 5,500, they said. Prices of seedcotton
Published 07 Jan, 2012 12:00am
India's November tea exports up 13.4 percent

India's November tea exports up 13.4 percent

India's tea exports climbed 13.4 percent in November to 17.47 million kg, the state-run Tea Board said on Friday, as demand picked up from traditional buyers in the Middle East. The world's second-biggest producer after China exports CTC (crush, tear, cur
Published 07 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 101,862 tonnes of cargo comprising 77,208 tonnes of import cargo and 24,654 tonnes of export cargo including 3,615 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 77,208 tonn
Published 07 Jan, 2012 12:00am
India extends sugar export permit deadline

India extends sugar export permit deadline

India has extended the deadline for mills and factories to apply for sugar export permits, the government said on Friday, a move expected to boost sluggish exports from the world's second biggest producer. Factories wishing to export from their own sugar
Published 07 Jan, 2012 12:00am
Indonesia will not import rice in 2012: Bulog

Indonesia will not import rice in 2012: Bulog

Indonesia will not import rice in 2012 and instead maintain high stock levels by buying 4 million tonnes of the staple grain from domestic sellers, state procurement agency Bulog said. Southeast Asia's biggest economy and the world's third-largest rice gr
Published 07 Jan, 2012 12:00am
EU wheat prices rise on weak euro, US rebound

EU wheat prices rise on weak euro, US rebound

Wheat prices in western European markets were higher on Friday buoyed by the weakness of the euro and a bounce in US futures after the prior session's steep losses. "We're rising a bit because Chicago is in positive territory and the euro-dollar rate is h
Published 07 Jan, 2012 12:00am
Vietnam sees coffee, rice exports down in 2012

Vietnam sees coffee, rice exports down in 2012

Vietnam plans to export 1.2 million tonnes, or 20 million bags, of coffee this year, down 4 percent from the amount shipped in 2011 but above a previous forecast of 1.1 million tonnes, a state-run newspaper reported on Thursday. Annual rice exports were s
Published 07 Jan, 2012 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the wholesale grain and oilseeds market on Friday as almost all the participants were busy in preparations for Juma prayers, grain and seed merchants group's press release said.
Published 07 Jan, 2012 12:00am
Pakistan rejects India's assertion on J&K

Pakistan rejects India's assertion on J&K

Pakistan on Friday rejected India's assertion on Jammu and Kashmir. India has termed the disputed territory an 'integral part of India'. "Government of Pakistan rejects the assertion made in the statement made by Indian Ministry of External Affairs' spoke
Published 07 Jan, 2012 12:00am
Don't derail democracy

Don't derail democracy

Democracy came after long struggle against a dictatorial rule of Pervez Musharraf. Civil society, especially media, supported by teachers, students, workers, peasants and other professional classes of society, played a critical role. Pervez Musharraf was
Published 07 Jan, 2012 12:00am
Pakistan rejects India's assertion on J&K

Pakistan rejects India's assertion on J&K

Pakistan on Friday rejected India's assertion on Jammu and Kashmir. India has termed the disputed territory an 'integral part of India'. "Government of Pakistan rejects the assertion made in the statement made by Indian Ministry of External Affairs' spoke
Published 07 Jan, 2012 12:00am
Will 2012 be different?

Will 2012 be different?

During the past year we witnessed many sad and unwanted happenings of violence, intolerance and sectarianism. Deviance of law was also seen in the form of grabbing illegal possession of property, money extortion and killings of innocent people.
Published 07 Jan, 2012 12:00am
Turkish former-army chief in jail over anti-government plot

Turkish former-army chief in jail over anti-government plot

The former head of Turkey's armed forces, General Ilker Basbug, was in custody on Friday on charges of trying to overthrow the government, a stunning move by the judiciary against a military that was once the ultimate power in the land. Basbug, who retire
Published 07 Jan, 2012 12:00am
Karachi Chronicle: New trend in terrorism

Karachi Chronicle: New trend in terrorism

At least four people were wounded in a grenade attack on Mobilink cellphone franchise in North Nazimabad last Monday morning. According to the Citizens-Police Liaison Committee (CPLC) it appears that a single group was carrying out attacks on cellphone fr
Published 07 Jan, 2012 12:00am
Turkish former-army chief in jail over anti-government plot

Turkish former-army chief in jail over anti-government plot

The former head of Turkey's armed forces, General Ilker Basbug, was in custody on Friday on charges of trying to overthrow the government, a stunning move by the judiciary against a military that was once the ultimate power in the land. Basbug, who retire
Published 07 Jan, 2012 12:00am
ART FACTS: Real to surreal

ART FACTS: Real to surreal

While visiting the Artscene gallery, Karachi the other day I noticed a new atmosphere there, as the gallery gave a new look just like a drawing in grey colour. I was invited by Shahzad Saeed, Director, Artscene gallery, Karachi to preview the recent drawi
Published 07 Jan, 2012 12:00am
More incentives for investors: power policy 2002 to be amended

More incentives for investors: power policy 2002 to be amended

Private Power Infrastructure Board (PPIB) has decided to offer additional incentives to power sector investors for which Power Policy 2002 will be amended. The decision was taken at the 90th meeting of the PPIB, Board, presided over by the Minister for Wa
Published 07 Jan, 2012 12:00am
BRIDGE NOTES: Don't forget the side suit

BRIDGE NOTES: Don't forget the side suit

Some hands in bridge are tough nuts to crack. Here you not only need a little bit of luck in placing some favourable distribution of the cards but you also need to plan well and have the vision and bridge technique of utilising your assets in a manner, wh
Published 07 Jan, 2012 12:00am
More incentives for investors: power policy 2002 to be amended

More incentives for investors: power policy 2002 to be amended

Private Power Infrastructure Board (PPIB) has decided to offer additional incentives to power sector investors for which Power Policy 2002 will be amended. The decision was taken at the 90th meeting of the PPIB, Board, presided over by the Minister for Wa
Published 07 Jan, 2012 12:00am
More incentives for investors: power policy 2002 to be amended

More incentives for investors: power policy 2002 to be amended

Private Power Infrastructure Board (PPIB) has decided to offer additional incentives to power sector investors for which Power Policy 2002 will be amended. The decision was taken at the 90th meeting of the PPIB, Board, presided over by the Minister for Wa
Published 07 Jan, 2012 12:00am
New York cotton

New York cotton

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

Published 07 Jan, 2012 12:00am
New York cotton

New York cotton

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

Published 07 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 07 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 07 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 Friday (January 06, 2012).

Published 07 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 Friday (January 06, 2012).

Published 07 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 Friday (January 06, 2012).

Published 07 Jan, 2012 12:00am
Anti-Money Laundering regime: MoF unit told to plug certain gaps

Anti-Money Laundering regime: MoF unit told to plug certain gaps

A meeting, held with Federal Minister for Finance & Economic Affairs, Dr Abdul Hafeez Shaikh in the chair here Friday, reviewed the current status of Anti Money Laundering (AML) regime, pace of progress, implementation of various reforms under the law and
Published 07 Jan, 2012 12:00am
Anti-Money Laundering regime: MoF unit told to plug certain gaps

Anti-Money Laundering regime: MoF unit told to plug certain gaps

A meeting, held with Federal Minister for Finance & Economic Affairs, Dr Abdul Hafeez Shaikh in the chair here Friday, reviewed the current status of Anti Money Laundering (AML) regime, pace of progress, implementation of various reforms under the law and
Published 07 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 Friday (January 06, 2012).

Published 07 Jan, 2012 12:00am
Anti-Money Laundering regime: MoF unit told to plug certain gaps

Anti-Money Laundering regime: MoF unit told to plug certain gaps

A meeting, held with Federal Minister for Finance & Economic Affairs, Dr Abdul Hafeez Shaikh in the chair here Friday, reviewed the current status of Anti Money Laundering (AML) regime, pace of progress, implementation of various reforms under the law and
Published 07 Jan, 2012 12:00am
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