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Archive - 2012-01-14
Chehlum Hazrat Imam Hussain (AS) today
Top News

Chehlum Hazrat Imam Hussain (AS) today

  ISLAMABAD: Chehlum of Hazrat Imam Hussain (AS) will be observed with due solemnity and reverence in the federal capit
Published 14 Jan, 2012 11:51pm
Arfa Karim passes away
Top News

Arfa Karim passes away

LAHORE : Arfa Karim, the world's youngest Microsoft Certified Professional (MCP), lost her life at Combined Military
Published 14 Jan, 2012 07:18pm
Gold slips to Rs 48,300
Markets

Gold slips to Rs 48,300

KARACHI: Gold slipped by Rs 300 to close at Rs 48,300 per 10 grams in the local market Saturday as its international pri
Published 14 Jan, 2012 05:23pm
Cotton slips by Rs 300 per maund
Top News

Cotton slips by Rs 300 per maund

KARACHI: Cotton price of different qualities remained stable in the range of Rs 4,300 to Rs 5,600 per maund in Sindh dur
Published 14 Jan, 2012 04:16pm
Syrian attacks hesitate
Middle East

Syrian attacks hesitate

AMMAN: A Syrian military assault on a rebel-held town has stalled because of snowstorms and armed resistance, an opposit
Published 14 Jan, 2012 01:06pm
Kenya cuts fuel prices
Energy

Kenya cuts fuel prices

NAIROBI: Kenya energy regulator slashed the prices of petrol, diesel and kerosene on Saturday in east Africa biggest eco
Published 14 Jan, 2012 12:48pm
Iran not storing oil in Gulf
Energy

Iran not storing oil in Gulf

TEHRAN: Iran has not stored oil on tankers in the Gulf, and its crude exports have not been disrupted due to mounting in
Published 14 Jan, 2012 12:28pm
General Kayani meets President Zardari
Top News

General Kayani meets President Zardari

KARACHI : Amid speculation to resolve friction between the powerful military and the civilian government, Chief or Army
Published 14 Jan, 2012 12:23pm
Economy stable despite challenges
Top News

Economy stable despite challenges

ISLAMABAD: Despite challenges at domestic and international fronts, country's economy maintained stability as suggested
Published 14 Jan, 2012 08:04am
Saudi ready to meet oil demand: Naimi
Top News

Saudi ready to meet oil demand: Naimi

DHAHRAN: Top oil producer Saudi Arabia is ready to meet any increase in consumer countries' demand for crude oil, oil mi
Published 14 Jan, 2012 08:04am
NAB opens cases on directions of SC
Top News

NAB opens cases on directions of SC

KARACHI: A team of the National Accountability Bureau (NAB) after apprehending federal secretary Ismail Qureshi from Lah
Published 14 Jan, 2012 08:00am
NAB opens cases on directions of SC
Top News

NAB opens cases on directions of SC

KARACHI: A team of the National Accountability Bureau (NAB) after apprehending federal secretary Ismail Qureshi from Lah
Published 14 Jan, 2012 08:00am
Uganda 2012 GDP growth likely to slow
Top News

Uganda 2012 GDP growth likely to slow

NAIROBI: Uganda's economic growth is expected to slow this year, as the east African country tightens its fiscal and mon
Published 14 Jan, 2012 07:19am
Suicide bomber kills 15 in Basra
Top News

Suicide bomber kills 15 in Basra

BASRA: A suicide bomber disguised as a policeman killed at least 15 people in Iraq's southern city of Basra on Saturday,
Published 14 Jan, 2012 07:00am
Chinese Premier Wen drops in on Nepal
Top News

Chinese Premier Wen drops in on Nepal

KATHMANDU : Chinese Premier Wen Jiabao arrived in Kathmandu on Saturday for talks marking the first visit to Nepal i
Published 14 Jan, 2012 06:55am
POL consumption up 2.2pc in 1HFY12
Top News

POL consumption up 2.2pc in 1HFY12

RECORDER REPORT KARACHI: The petroleum products consumption (ex non-energy products) in the country increased by 2.2
Published 14 Jan, 2012 05:06am
Imran Khan says he's not anti-West
Top News

Imran Khan says he's not anti-West

WASHINGTON: Pakistan Tehreek-e-Insaf (PTI) Chief Imran Khan on Friday rebutted charges he is anti-West and said his visi
Published 14 Jan, 2012 05:04am
Lesco, Qesco allowed raise in tariffs
Top News

Lesco, Qesco allowed raise in tariffs

MUSHTAQ GHUMMAN ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has allowed Lahore Electric Suppl
Published 14 Jan, 2012 04:47am
Australia 256 for 3 at lunch
Cricket

Australia 256 for 3 at lunch

PERTH: Australia were 256 for three at lunch on the second day of the third Test against India at the WACA ground on Sat
Published 14 Jan, 2012 04:39am
Gold extends losses in London trade

Gold extends losses in London trade

Gold fell 1 percent on Friday after the euro slipped sharply against the dollar, coming under pressure after a euro zone government source said rating agency Standard & Poor's was planning to downgrade several countries in the bloc. Losses were limited as
Published 14 Jan, 2012 12:00am
Gold down in Asia

Gold down in Asia

Gold drifted lower on Friday as fears about the health of the global economy abated after successful debt sales by Spain and Italy encouraged investors to put their money in riskier assets. Spot gold fell as much as nearly 1 percent to an intra-day low of
Published 14 Jan, 2012 12:00am
US gold remains up

US gold remains up

Gold rose to a one-month high on Thursday, as comments by the president of the European Central Bank on cheap money stabilising the region's banking system extended the metal's gain to a third consecutive day. Spot gold was up 0.3 percent at $1,645.90 an
Published 14 Jan, 2012 12:00am
Cocoa falls, coffee up

Cocoa falls, coffee up

US cocoa futures fell nearly 3 percent on Friday on disappointing European grind numbers, while arabica coffee retreated from six-week highs but sugar rose on technical support, erasing the previous session's loss. It was a second straight session of loss
Published 14 Jan, 2012 12:00am
Corn plunges

Corn plunges

US corn futures plunged more than 6 percent on Thursday and wheat fell 5.6 percent in their steepest slide in 3-1/2 months after the US Department of Agriculture forecast supplies well above trade expectations in its closely watched January crop report.
Published 14 Jan, 2012 12:00am
Palm oil tumbles

Palm oil tumbles

Malaysian crude palm oil futures slipped on Friday as a much-anticipated US crop report showed a higher-than-expected forecast of oilseed supplies, temporarily overshadowing prospects of lower production due to erratic weather. The US Department of Agricu
Published 14 Jan, 2012 12:00am
Tokyo rubber lower

Tokyo rubber lower

Key Tokyo rubber futures gave up early gains and ended down 1 percent on Friday as profit-taking emerged, with many investors waiting to see US corporate earnings and due to uncertainty surrounding Europe's debt crisis. The bellwhether Tokyo Commodity Exc
Published 14 Jan, 2012 12:00am
Oil slips on downgrade worry

Oil slips on downgrade worry

Oil prices fell on Friday in choppy trading, heading for a weekly loss as pressure from expectations of credit downgrades for some euro zone countries countered the supportive effect of anxiety about Nigerian strikes and Iranian threats to shipping.
Published 14 Jan, 2012 12:00am
Copper rally halted

Copper rally halted

Copper capped its strongest weekly performance in six weeks with a whimper on Friday, dropping back after setting a fresh 2-month high as investors dumped risk amid talk of imminent credit downgrades of euro zone countries. It was another day of heavier-t
Published 14 Jan, 2012 12:00am
Shanghai copper gains

Shanghai copper gains

The most-traded March copper contract on the Shanghai Futures Exchange gained 1.05 percent to 58,000 yuan ($9,200) a tonne on Friday. Front-month copper on the Shanghai Futures Exchange fell to a discount of 750 yuan against the third-month contract on Th
Published 14 Jan, 2012 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures ended lower on Thursday, unwinding its advance to a two-month peak, after most estimates in the US Department of Agriculture's December supply/demand report were seen as bearish, according to several brokers. Benchmark March cotton futures
Published 14 Jan, 2012 12:00am
Myanmar frees more political prisoners

Myanmar frees more political prisoners

Myanmar freed at least 200 political prisoners on Friday in an amnesty that could embolden the opposition and put pressure on the West to lift sanctions as one of the world's most reclusive states opens up after half a century of authoritarian rule. Among
Published 14 Jan, 2012 12:00am
US seeks to exchange ambassadors with Myanmar

US seeks to exchange ambassadors with Myanmar

US Secretary of State Hillary Clinton said Friday that the United States is moving toward exchanging ambassadors with Myanmar, as a reward for reforms by the military-backed government. Echoing President Barack Obama in hailing the release of political pr
Published 14 Jan, 2012 12:00am
Sarkozy confers France's highest honour on Suu Kyi

Sarkozy confers France's highest honour on Suu Kyi

French President Nicolas Sarkozy announced Friday he was conferring the country's highest honour on Myanmar opposition leader, Aung San Suu Kyi. The move to award the Legion of Honour came as Myanmar released more than 400 political prisoners, including s
Published 14 Jan, 2012 12:00am
UK student faces US extradition in copyright case

UK student faces US extradition in copyright case

A London court ruled on Friday a British student can be extradited to the United States for breaching US copyright law by running a website that allowed users to access films and TV programmes illegally. Richard O'Dwyer's website, TV Shack, provided links
Published 14 Jan, 2012 12:00am
Japan's Prime Minister picks fiscal hawk as deputy in reshuffle

Japan's Prime Minister picks fiscal hawk as deputy in reshuffle

Prime Minister Yoshihiko Noda appointed fiscal hawk Katsuya Okada as his deputy in charge of tax and social security reform in a cabinet reshuffle on Friday, vowing to forge ahead with sales tax increases despite a deadlocked parliament. Noda also chose N
Published 14 Jan, 2012 12:00am
Norway judge orders new mental exam for mass killer

Norway judge orders new mental exam for mass killer

An Oslo court on Friday named two psychiatrists to conduct a new examination of Anders Behring Breivik, the anti-Islam militant who killed 77 people last year, in an effort to end inflamed national debate over an initial report that found him psychotic.
Published 14 Jan, 2012 12:00am
US tells Russia, Cyprus of Syria-bound ship concerns

US tells Russia, Cyprus of Syria-bound ship concerns

The United States said Friday that it has raised concerns with Russia and Cyprus over a Russian ship suspected of carrying munitions to Syria. "With regard to the ship, we have raised our concerns about this, both with Russia and with Cyprus, which was th
Published 14 Jan, 2012 12:00am
Syrian tanks attack town amid civil war warning

Syrian tanks attack town amid civil war warning

Unrest in Syria cost at least 15 lives on Friday and troops backed by tanks attacked Zabadani, a town near the border with Lebanon, an opposition leader said, in the first big military assault since Arab League monitors arrived last month. The League chie
Published 14 Jan, 2012 12:00am
Brazil's Rousseff backs off Cabinet purge

Brazil's Rousseff backs off Cabinet purge

At first blush, it might seem like the clock is ticking on Fernando Bezerra's days as a Brazilian Cabinet minister. Bezerra has been fighting sensational charges of nepotism and other ethics breaches in the Brazilian press. The most egregious accusation:
Published 14 Jan, 2012 12:00am
Polio breakthrough: India marks disease-free year

Polio breakthrough: India marks disease-free year

India marked a year since its last case of polio on Friday, a major milestone in a country once considered the epicentre of the disease and one that gives hope of eradicating the scourge world-wide. The country had 150,000 polio cases in 1985, but a huge
Published 14 Jan, 2012 12:00am
Iraq official calls for Prime Minister's removal

Iraq official calls for Prime Minister's removal

Iraq's deputy premier called Friday for Prime Minister Nouri al-Maliki to step down and warned that the country's festering political crisis risks sparking a wider sectarian conflict in the region. Sunni Deputy Prime Minister Saleh al-Mutlaq stood by an e
Published 14 Jan, 2012 12:00am
Libya withdraws notes bearing Qadhafi image

Libya withdraws notes bearing Qadhafi image

The central bank of Libya said on Friday it is withdrawing from circulation the 50-dinar note which bears the picture of slain dictator Mummar Qadhafi wearing tinted glasses. The bank's governor Al-Seddiq Omar al-Kabir told reporters that Libyans have unt
Published 14 Jan, 2012 12:00am
Putin pays last respects to legendary Soviet spy

Putin pays last respects to legendary Soviet spy

A host of spies led by Russian Prime Minister Vladimir Putin paid their last respects Friday to one of the Soviet Union's most legendary agents as he was laid to rest in Moscow will full honours. Gevork Vartanyan - who protected the Allied "Big Three" in
Published 14 Jan, 2012 12:00am
15 killed in bus crash in northern India

15 killed in bus crash in northern India

At least 15 people were killed after a passenger bus skidded off an icy road in India's northern state of Himachal Pradesh, police said Friday. The bus rolled down a 300-metre gorge near Nerwa, 120 kilometres south-east of state capital Shimla on Thursday
Published 14 Jan, 2012 12:00am
US Marines questioned over urination video

US Marines questioned over urination video

All four US Marines seen in an online video urinating on the corpses of militants in Afghanistan have been identified and two of them have been questioned, American military officials said on Friday. The official said the two men "have been questioned" by
Published 14 Jan, 2012 12:00am
Al-Azhar condemns abuse video

Al-Azhar condemns abuse video

Al-Azhar, Sunni Islam's highest seat of learning, strongly denounced on Friday an online video of US soldiers urinating on the corpses of militants in Afghanistan. Grand Imam Ahmed al-Tayyeb, the head of the Cairo-based institution, slammed it as "a hideo
Published 14 Jan, 2012 12:00am
Saudi security forces kill protester

Saudi security forces kill protester

Saudi security forces killed a young protester and wounded three in the kingdom's oil-producing Eastern Province, home to a large Shia Muslim minority, websites and activists said on Friday. Saudi Arabia, the world's No 1 oil exporter, is sensitive to any
Published 14 Jan, 2012 12:00am
Ahmadinejad ends lacklustre Latin America tour

Ahmadinejad ends lacklustre Latin America tour

Iranian President Mahmoud Ahmadinejad on Friday wraps up a four-nation tour of Latin America that yielded kind words from ideological allies but no clear offers to help ease Western sanctions against its nuclear programme. The limited results from his tou
Published 14 Jan, 2012 12:00am
US Navy wants more cost-cutting from Huntington Ingalls

US Navy wants more cost-cutting from Huntington Ingalls

The US Navy on Thursday said it is working closely with Huntington Ingalls Industries Inc to continue to drive down costs on the CVN 78 aircraft carrier and LPD amphibious ships the company has under construction. Navy acquisition chief Sean Stackley said
Published 14 Jan, 2012 12:00am
Ban 'deeply concerned' over Hezbollah arms

Ban 'deeply concerned' over Hezbollah arms

Visiting UN chief Ban Ki-moon said on Friday he was "deeply concerned" about the military prowess of the Iranian-backed Hezbollah and urged Lebanon to reconvene talks on disarming the militant group. "I am deeply concerned about the military capacity of H
Published 14 Jan, 2012 12:00am
Nigeria unions suspend strikes

Nigeria unions suspend strikes

Nigerian unions suspended strikes and protests over rising petrol prices for the weekend on Friday while talks take place between union leaders and government, but warned of more industrial action if there was no resolution. Domestic airports would reopen
Published 14 Jan, 2012 12:00am
Attacks on scientists to be condemned: UN chief

Attacks on scientists to be condemned: UN chief

UN Secretary-General Ban Ki-moon said on Friday any killing like that of an Iranian nuclear scientist in Tehran earlier this week was to be condemned, a UN spokesman said. Mostafa Ahmadi-Roshan, 32, was killed by a motorbike hitman who put a magnetic bomb
Published 14 Jan, 2012 12:00am
Air France fined 146,000 euros for 'poisoned' coffee

Air France fined 146,000 euros for 'poisoned' coffee

A French court on Friday ordered Air France to pay 146,000 euros (186,000 dollars) to compensate a passenger who said he was served poisoned coffee on a domestic flight in 2006. The court ordered the carrier to pay 46,000 euros to the man and 100,000 euro
Published 14 Jan, 2012 12:00am
Five killed as Yemen police, protesters clash in south

Five killed as Yemen police, protesters clash in south

Firefights between police and southern separatists in Yemen on Friday killed five and wounded 23, as protesters nation-wide denounced a plan granting the president immunity from prosecution, medics and police said. "Three protesters were killed and 18 oth
Published 14 Jan, 2012 12:00am
Barca set up Real clash in Spanish Cup

Barca set up Real clash in Spanish Cup

Second half goals from Alexis Sanchez and Sergi Roberto gave Barcelona a 2-1 victory over Osasuna on Thursday and a quarter-final clash with arch-rivals and titleholders Real Madrid in the Spanish Cup. Dejan Lekic had put hosts Osasuna ahead five minutes
Published 14 Jan, 2012 12:00am
Ferrer, Rochus to contest Auckland final

Ferrer, Rochus to contest Auckland final

Top-seed David Ferrer beat Fernando Verdasco 6-3, 6-4 in the semi-finals of the Auckland ATP tournament Friday to cap a gruelling day on court and book a final showdown with Olivier Rochus. The unseeded Rochus, a finalist here seven years ago, came from b
Published 14 Jan, 2012 12:00am
Azarenka ends Li's winning run

Azarenka ends Li's winning run

Victoria Azarenka ended Li Na's unbeaten two-year run at the Sydney International with a fighting three-set victory in the final on Friday. The Belarusian third seed claimed her ninth career WTA title with a 6-2, 1-6, 6-3 victory over the fourth seeded Ch
Published 14 Jan, 2012 12:00am
Nieminen to play Benneteau in final

Nieminen to play Benneteau in final

Journeymen Jarkko Nieminen and Julien Benneteau earned themselves a rare ATP title shot at the Sydney International after beating higher ranked semi-final opponents on Friday. Finland's Nieminen, 30, needed a marathon 26-point tiebreaker before prevailing
Published 14 Jan, 2012 12:00am
Warner inflicts ton of pain on India

Warner inflicts ton of pain on India

Australian opener David Warner questioned India's resolve after slamming the equal fourth fastest century in Test cricket on a horror opening day for the tourists in the third Test in Perth Friday. Warner reached his hundred off 69 balls and did it in sty
Published 14 Jan, 2012 12:00am
Trott misses hundred but England gain another win

Trott misses hundred but England gain another win

Jonathan Trott returned to form with 93 as England geared up for next week's first Test against Pakistan with a 100-run win over a Pakistan Cricket Board XI in their three-day tour match here on Friday. Trott, England's number three batsman who was declar
Published 14 Jan, 2012 12:00am
Moshin warns England of No 1 pressure

Moshin warns England of No 1 pressure

Pakistan coach Mohsin Khan Friday warned England will feel the heat to maintain their world number one ranking against his fast-rising team in the three-Test series starting next week. England rose to the top of ICC (International Cricket Council) Test ra
Published 14 Jan, 2012 12:00am
Wozniacki gets tough draw at Australian Open

Wozniacki gets tough draw at Australian Open

World number one Caroline Wozniacki could face French Open champion Li Na in the quarter-finals of the Australian Open following Friday's draw for the season-opening grand slam. The Danish top seed, whose world ranking is under threat from Petra Kvitova,
Published 14 Jan, 2012 12:00am
Federer, Nadal in same half

Federer, Nadal in same half

Roger Federer and Rafael Nadal are in the same half of a grand slam draw for the first time in seven years in the selection made Friday for next week's Australian Open in Melbourne. Defending champion Novak Djokovic will have world number four Andy Murray
Published 14 Jan, 2012 12:00am
Euro-priced rates hit 9-1/2 month low

Euro-priced rates hit 9-1/2 month low

Euro-priced interbank rates hit new 9-1/2 month lows on Friday driven by the excess cash in the banking system but banks worried about lending to their peers are still parking record amounts of cash with the ECB. News in the European afternoon that credit
Published 14 Jan, 2012 12:00am
Rupee leads weekly Asia FX gains

Rupee leads weekly Asia FX gains

The Indian rupee is set to be this week's biggest gainer among regional peers and to enjoy its largely weekly rise since October, as a sign Europe's debt crisis may be easing lifted Asian currencies on Friday and spurred hopes for more inflows.
Published 14 Jan, 2012 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee posted its biggest weekly gain in over two months, aided by robust inflows and positive local shares, with dollar demand from oil importers keeping a lid on the rise. On Friday, the partially convertible rupee closed at 51.5350/5450 to th
Published 14 Jan, 2012 12:00am
Australian and New Zealand dollars off highs

Australian and New Zealand dollars off highs

The Australian and New Zealand dollars nursed rare losses against a broadly firmer euro on Friday, as strong demand at a Spanish debt auction softened euro zone worries and unleashed a wave of pent-up short-covering. The Antipodeans finally ran into profi
Published 14 Jan, 2012 12:00am
Euro springs back

Euro springs back

The euro climbed to a one-week peak against the US dollar on Thursday as a solid sale of Spanish and Italian debt and more upbeat comments about the eurozone economy from the European Central Bank chief eased concerns about the region's debt.
Published 14 Jan, 2012 12:00am
Early trade in New York: euro plunges versus dollar

Early trade in New York: euro plunges versus dollar

The euro tumbled against the dollar on Friday, coming closer to a 16-month low hit earlier in the week, as fears about an imminent downgrade of euro zone countries and a lacklustre sale of Italian debt had investors betting against the common currency. Th
Published 14 Jan, 2012 12:00am
Euro stumbles in London

Euro stumbles in London

The euro fell to the day's low on Friday after an Italian debt sale failed to match a stellar Spanish auction the previous day, in a reminder that Europe's debt crisis is unresolved and the currency's downtrend is entrenched. Italy sold 4.75 billion euros
Published 14 Jan, 2012 12:00am
Euro rises in Asia

Euro rises in Asia

The euro rose versus the dollar on Friday, its gains accelerated by stop-loss buying, with mounting hopes for a Greek bond swap deal also lending the single currency support. The euro had been supported by short-covering after debt sales in Spain and Ital
Published 14 Jan, 2012 12:00am
Sterling climbs versus euro

Sterling climbs versus euro

Sterling rallied against a tumbling euro on Friday as talk of an imminent downgrade to some eurozone countries prompted a sell-off in the single currency, which in turn hit risk sentiment and knocked the pound to a 17-month low versus the dollar. A senior
Published 14 Jan, 2012 12:00am
Yuan edges up

Yuan edges up

The yuan closed up slightly on Friday, as the market shrugged off data showing that China's foreign exchange reserves fell markedly in the fourth quarter last year. Spot yuan finished at 6.3066, 112 pips stronger than Thursday's close. The People's Bank o
Published 14 Jan, 2012 12:00am
FTSE falls on eurozone rating fears

FTSE falls on eurozone rating fears

Britain's FTSE 100 share index fell on Friday, retracing earlier gains, on reports that debt ratings agency Standard & Poor's was set to downgrade a number of euro zone countries. A senior eurozone government source said S&P would cut credit ratings for s
Published 14 Jan, 2012 12:00am
Australian shares edge up

Australian shares edge up

Australian shares rose 0.4 percent on Friday, with energy and materials the best performing sectors on the back of positive bond auctions in Europe, although gains were capped by lacklustre economic data out of the United States. For the week, the market
Published 14 Jan, 2012 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks ended flat for a second day on Friday as investors waited for the outcome of weekend presidential elections, though smartphone maker HTC rose 3.78 percent. Saturday's election will determine whether the island deepens economic integration wi
Published 14 Jan, 2012 12:00am
European shares slip

European shares slip

European shares fell on Friday after sources said credit rating agency Standard & Poor's was set to go through with a long-mooted downgrade of several euro zone countries, weighing on sentiment for riskier assets such as equities. French TV, citing a gove
Published 14 Jan, 2012 12:00am
Chinese shares down; Hang Seng Index rises

Chinese shares down; Hang Seng Index rises

China shares snapped a nine-week losing streak, but on Friday finished down from the week's highs on fears that capital outflows would drag on markets. The Shanghai Composite Index slipped 1.3 percent on the day, but in Hong Kong, the most popular gateway
Published 14 Jan, 2012 12:00am
South Korean stocks up

South Korean stocks up

Seoul shares held on to moderate gains near midday on Friday, as signs of stabilisation in the euro zone debt crisis rejuvenated investor risk appetite. "The news out Europe was a significant confidence booster, with steady purchases from both offshore in
Published 14 Jan, 2012 12:00am
Treasuries slip after weak 30-year bond sale

Treasuries slip after weak 30-year bond sale

US Treasury debt prices slipped slightly on Thursday after investors showed scant interest in buying 30-year bonds at the Treasury's final coupon auction of the week. The Treasury sold $13 billion in reopened 30-year bonds at a high yield of 2.985 percent
Published 14 Jan, 2012 12:00am
Treasuries slip after weak 30-year bond sale

Treasuries slip after weak 30-year bond sale

US Treasury debt prices slipped slightly on Thursday after investors showed scant interest in buying 30-year bonds at the Treasury's final coupon auction of the week. The Treasury sold $13 billion in reopened 30-year bonds at a high yield of 2.985 percent
Published 14 Jan, 2012 12:00am
Wall Street ekes out gains for fourth day

Wall Street ekes out gains for fourth day

The S&P 500 closed at a five-month high for the third day on Thursday but had difficulty extending gains in the face of lacklustre economic data and another European bond market test. Energy shares curbed gains after Chevron Corp, the second-largest US oi
Published 14 Jan, 2012 12:00am
Friday's midday trade: Wall Street drops

Friday's midday trade: Wall Street drops

US stocks were on track to end the week with modest gains as major indexes pulled back from session lows after falling more than 1 percent on Friday on talk that Standard & Poor's was ready to downgrade ratings on several euro-zone countries. The slide, l
Published 14 Jan, 2012 12:00am
Nikkei hits one-week high

Nikkei hits one-week high

Japan's Nikkei share average climbed to a one-week high on Friday, rising above the key threshold of its 25-moving average after smooth European debt auctions prompted buying of exporters, while the market remained on edge ahead of US corporate earnings.
Published 14 Jan, 2012 12:00am
Indian shares post highest weekly close in five weeks

Indian shares post highest weekly close in five weeks

Indian shares rose to their highest weekly close in five weeks on Friday, on hopes renewed policy reforms by the government and easing inflation will give a much needed boost to the country's slowing economy. Analysts said that a decline in inflation coul
Published 14 Jan, 2012 12:00am
South East Asian markets: Singapore leads regional gains

South East Asian markets: Singapore leads regional gains

Selective buying in commodities-related shares on the back of high oil prices helped lift some south-east Asian stock markets on Friday. Positive comments on Europe's outlook, and stabilisation in European bond markets, also provided support as the region
Published 14 Jan, 2012 12:00am
US trade gap widens in November, biggest since June

US trade gap widens in November, biggest since June

The US trade deficit widened in November to its largest in five months, suggesting imports weighed on economic growth a bit more than expected during the fourth quarter. The trade gap totalled $47.8 billion, exceeding analysts' forecast of a $45.0 billion
Published 14 Jan, 2012 12:00am
Consumer sentiment jumps

Consumer sentiment jumps

US consumer sentiment continued to pick up steam in early January, rising to the highest level in eight months as Americans became more optimistic about job prospects, a survey released on Friday showed. The Thomson Reuters/University of Michigan's prelim
Published 14 Jan, 2012 12:00am
J.P Morgan profit falls

J.P Morgan profit falls

The drag of the European debt crisis on trading and corporate deal-making pulled down J.P. Morgan Chase & Co's profit, sending bank stocks tumbling on Friday, but the largest US bank by assets said the domestic economy was strengthening. Chief Executive J
Published 14 Jan, 2012 12:00am
J.P Morgan profit falls

J.P Morgan profit falls

The drag of the European debt crisis on trading and corporate deal-making pulled down J.P. Morgan Chase & Co's profit, sending bank stocks tumbling on Friday, but the largest US bank by assets said the domestic economy was strengthening. Chief Executive J
Published 14 Jan, 2012 12:00am
Ukraine says won't sell gas pipelines to Russia

Ukraine says won't sell gas pipelines to Russia

Ukraine will not sell its gas pipeline network to Russia in exchange for supplies of cheaper gas, Ukrainian Energy Minister Yuri Boiko said on Friday, ruling out a solution long suggested by Moscow. He pledged, however, to honour the existing deal, which
Published 14 Jan, 2012 12:00am
UK oil and gas decline to halt as investment booms

UK oil and gas decline to halt as investment booms

British oil and gas tax revenues could rise by billions of pounds this year as high oil prices boost earnings and tempt operators into opening new fields after a decade of sharp declines, industry data and Reuters research showed.
Published 14 Jan, 2012 12:00am
Novartis cuts 2,000 US jobs

Novartis cuts 2,000 US jobs

Swiss pharmaceutical company Novartis has again drastically reduced its workforce in the United States to deal with the expiry of an important patent and its failure to get traction on other drugs, the firm said on Friday. After cutting 2,000 positions in
Published 14 Jan, 2012 12:00am
Eurozone trade surplus reaches two-year high

Eurozone trade surplus reaches two-year high

The eurozone posted its biggest trade surplus since mid-2009 in November, EU data showed on Friday, as exports grew at more than twice the rate of imports and signalled that Europe's economy may escape a prolonged downturn.
Published 14 Jan, 2012 12:00am
Lloyds CEO gives up $3.7 million bonus after time off

Lloyds CEO gives up $3.7 million bonus after time off

Lloyds Banking Group Chief Executive Antonio Horta-Osorio has waived his bonus for 2011 after taking two months off to recover from fatigue. He said his decision reflected a poor performance by the bank, tough times for its customers as well as the effect
Published 14 Jan, 2012 12:00am
Inpex, Total approve $34 billion LNG project

Inpex, Total approve $34 billion LNG project

Japanese group Inpex and French oil group Total gave the go-ahead for a $34 billion liquefied natural gas export project that will see Australia overtake Qatar by 2017 as the world's top LNG exporter, mostly to Japan. The budget compared with a November 3
Published 14 Jan, 2012 12:00am
Dip in China's FX reserves may hasten policy shift

Dip in China's FX reserves may hasten policy shift

China's official reserves slipped to $3.18 trillion in the final quarter of 2011, signalling that the days of rampant export-led accumulation of foreign currency are numbered and that new monetary policy steps may be needed to counter capital outflows. Th
Published 14 Jan, 2012 12:00am
Obama wants to shrink US government, boost exports

Obama wants to shrink US government, boost exports

President Barack Obama asked Congress on Friday for authority to shrink the US government and create a single export agency, saying the bureaucracy was too complex and unable to meet the demands of a 21st century economy. The move comes against the backdr
Published 14 Jan, 2012 12:00am
Apple suspends iPhone sales at China stores

Apple suspends iPhone sales at China stores

Apple said Friday it was suspending sales of the new iPhone at its China stores after fans desperate to get their hands on it fought with security and threw eggs at an official outlet. Police detained at least two people outside the Beijing shop on Friday
Published 14 Jan, 2012 12:00am
Japan's energy shift can hasten end to easy borrowing

Japan's energy shift can hasten end to easy borrowing

Japan's nuclear crisis may achieve what the global financial crisis and the euro zone debt debacle failed to accomplish - serve as a wake-up call for governments accustomed to borrowing at will and at minimum cost from their cash-rich citizens.
Published 14 Jan, 2012 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell to a three-week low on Thursday after the US Department of Agriculture said the United States will have far more corn and soyabeans left at the end of this marketing year than expected. Canola rallied later in the session
Published 14 Jan, 2012 12:00am
Trading activity falls on cotton market as buying interest dwindles

Trading activity falls on cotton market as buying interest dwindles

Mills and spinners kept on the sidelines on the cotton market on Friday in expectations of fall in prices due to better-than-expected production this year, dealers said. The official spot rate was held at the overnight level at Rs 5,600, they said.
Published 14 Jan, 2012 12:00am
India's vegetable oil imports down

India's vegetable oil imports down

India imported 669,912 tonnes of vegetable oils in December, down 21.7 percent from the previous month, deterred by ample local oilseeds supply and a weak rupee, trade data showed on Friday. Palm oil imports - the bulk of India's edible oil purchases - fe
Published 14 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 106,468 tonnes of cargo comprising 100,348 tonnes of import cargo and 6,120 tonnes of export cargo including 2,423 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 100,348 ton
Published 14 Jan, 2012 12:00am
No change on grain market

No change on grain market

Prices of commodity items retained overnight levels on the wholesale grain and oilseeds market on Friday, as almost all the participants were busy in preparations for Juma prayrs, according to the grain and seed merchants group's press release.
Published 14 Jan, 2012 12:00am
US Midwest corn, soya bids steady to firmer

US Midwest corn, soya bids steady to firmer

Corn and soyabean spot basis bids were steady to firmer around the US Midwest on Thursday after Chicago Board of Trade grains and soya futures fell sharply on higher-than-expected US Agriculture Department crop stocks and production data, grain merchants
Published 14 Jan, 2012 12:00am
EU suspends raw sugar import tenders in January, February

EU suspends raw sugar import tenders in January, February

The European Union has cancelled tenders for importing raw cane sugar for refining at reduced duties set for January and February, due to increased sugar supplies on the EU market, the bloc's executive said on Thursday. The decision by the EU's sugar mana
Published 14 Jan, 2012 12:00am
China January soya imports seen down

China January soya imports seen down

China, the world's top soya buyer, is likely to import 4.57 million tonnes of the oilseed in January, down 15.6 percent from actual arrivals of 5.42 million tonnes in December, according to the latest estimate by the Commerce Ministry. The projected Janua
Published 14 Jan, 2012 12:00am
What is in store?

What is in store?

Imran Khan is clever. He took the two major issues - corruption and injustice, wrapped them in the slogan 'Tsunami' and tossed them into the court of the emotive Pakistani youth. The frustrated youth gave him a resounding response. The political waves cre
Published 14 Jan, 2012 12:00am
KARACHI CHRONICLE: The visitors

KARACHI CHRONICLE: The visitors

The winter months bring hordes of visitors from abroad, some to attend weddings, some to get married themselves and some to meet the family since it has become impossible for the family to go abroad to meet expect relatives because of the high cost of tra
Published 14 Jan, 2012 12:00am
ART FACTS: Facts and fantasies

ART FACTS: Facts and fantasies

A surreal world where the natural world holds a new and different meaning is revealed in a group exhibition at Chawkandi Art gallery, Karachi. The paintings have uniqueness of themes and different style of execution. The structures in the paintings may ap
Published 14 Jan, 2012 12:00am
BRIDGE NOTES: Squeeze is nothing but B.L.U.E.

BRIDGE NOTES: Squeeze is nothing but B.L.U.E.

Of all the fascinating aspects of bridge, nothing can beat the thrill and satisfaction of executing a squeeze on the opponents, watching them squirm under pressure and finally seeing them succumb to the inevitable. That is the ultimate triumph for a bridg
Published 14 Jan, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 14 Jan, 2012 12:00am
Gilani called UK, fearing coup?

Gilani called UK, fearing coup?

Prime minister telephoned the top British diplomat in the country this week expressing fears that the Pakistani army might be about to stage a coup, a British official and an official in Islamabad said Friday. The call, which one official said was "panick
Published 14 Jan, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 14 Jan, 2012 12:00am
Gilani called UK, fearing coup?

Gilani called UK, fearing coup?

Prime minister telephoned the top British diplomat in the country this week expressing fears that the Pakistani army might be about to stage a coup, a British official and an official in Islamabad said Friday. The call, which one official said was "panick
Published 14 Jan, 2012 12:00am
PML-N won't table trust vote motion

PML-N won't table trust vote motion

Pakistan Muslim League-Nawaz (PML-N) on Friday decided to drop the plan of moving vote of no-confidence against the prime minister in the National Assembly as well as long-march to remove the government on the suggestion of other opposition parties that h
Published 14 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 14 Jan, 2012 12:00am
PML-N won't table trust vote motion

PML-N won't table trust vote motion

Pakistan Muslim League-Nawaz (PML-N) on Friday decided to drop the plan of moving vote of no-confidence against the prime minister in the National Assembly as well as long-march to remove the government on the suggestion of other opposition parties that h
Published 14 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 14 Jan, 2012 12:00am
Zardari has whip-hand in showdown with army

Zardari has whip-hand in showdown with army

For decades, generals only had to pick up a phone and order the removal of anyone in the civilian government who had crossed them. It's not so simple anymore, as the army is finding out in its latest battle with President Asif Ali Zardari.
Published 14 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 13, 2012).

Published 14 Jan, 2012 12:00am
Zardari has whip-hand in showdown with army

Zardari has whip-hand in showdown with army

For decades, generals only had to pick up a phone and order the removal of anyone in the civilian government who had crossed them. It's not so simple anymore, as the army is finding out in its latest battle with President Asif Ali Zardari.
Published 14 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 13, 2012).

Published 14 Jan, 2012 12:00am
Haqqani seeks action against Ijaz's counsel

Haqqani seeks action against Ijaz's counsel

Former Pakistan ambassador to the US Husain Haqqani has requested the Pakistan Bar Council (PBC) to initiate disciplinary proceedings against Advocate Akram Sheikh, counsel for Mansoor Ijaz in the memogate scandal case. In his application to the PBC, Haqq
Published 14 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 13, 2012).

Published 14 Jan, 2012 12:00am
Haqqani seeks action against Ijaz's counsel

Haqqani seeks action against Ijaz's counsel

Former Pakistan ambassador to the US Husain Haqqani has requested the Pakistan Bar Council (PBC) to initiate disciplinary proceedings against Advocate Akram Sheikh, counsel for Mansoor Ijaz in the memogate scandal case. In his application to the PBC, Haqq
Published 14 Jan, 2012 12:00am
'I was sacked because I didn't sign government's affidavit'

'I was sacked because I didn't sign government's affidavit'

Former Defence Secretary Lieutenant General Khalid Naeem Lodhi (retired) said on Friday that he was sacked without being given any reason by Prime Minister Yousuf Gilani. Talking to some private media channels, Lodhi reportedly said he was sacked because
Published 14 Jan, 2012 12:00am
'I was sacked because I didn't sign government's affidavit'

'I was sacked because I didn't sign government's affidavit'

Former Defence Secretary Lieutenant General Khalid Naeem Lodhi (retired) said on Friday that he was sacked without being given any reason by Prime Minister Yousuf Gilani. Talking to some private media channels, Lodhi reportedly said he was sacked because
Published 14 Jan, 2012 12:00am
AJK LA reposes confidence in Zardari, Gilani

AJK LA reposes confidence in Zardari, Gilani

AJK Legislative Assembly Friday reposed full confidence in the leadership of President, Asif Ali Zardari and Prime Minister, Yousuf Raza Gilani for their efforts to strengthen democracy and democratic process in Pakistan. This was stated in a unanimously
Published 14 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 13, 2012).

Published 14 Jan, 2012 12:00am
AJK LA reposes confidence in Zardari, Gilani

AJK LA reposes confidence in Zardari, Gilani

AJK Legislative Assembly Friday reposed full confidence in the leadership of President, Asif Ali Zardari and Prime Minister, Yousuf Raza Gilani for their efforts to strengthen democracy and democratic process in Pakistan. This was stated in a unanimously
Published 14 Jan, 2012 12:00am
Zardari returns from visit to Dubai

Zardari returns from visit to Dubai

President Asif Zardari who had gone to Dubai on Thursday afternoon on a private visit to attend a wedding returned to Islamabad in the wee hours of Friday morning. Spokesperson Farhatullah Babar said that the President travelled to Dubai for a few hours o
Published 14 Jan, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (January 13, 2012).
Published 14 Jan, 2012 12:00am
Zardari returns from visit to Dubai

Zardari returns from visit to Dubai

President Asif Zardari who had gone to Dubai on Thursday afternoon on a private visit to attend a wedding returned to Islamabad in the wee hours of Friday morning. Spokesperson Farhatullah Babar said that the President travelled to Dubai for a few hours o
Published 14 Jan, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (January 13, 2012).

Published 14 Jan, 2012 12:00am
GST on tractors cut to five percent

GST on tractors cut to five percent

The Government has decided to reduce general sales tax (GST) on tractors to 5 percent, from 16 percent, aimed at bringing down tractor prices up to Rs 90,000 and extending help to the troubled local industry. However, the rate of GST will be brought to 16
Published 14 Jan, 2012 12:00am
GST on tractors cut to five percent

GST on tractors cut to five percent

The Government has decided to reduce general sales tax (GST) on tractors to 5 percent, from 16 percent, aimed at bringing down tractor prices up to Rs 90,000 and extending help to the troubled local industry. However, the rate of GST will be brought to 16
Published 14 Jan, 2012 12:00am
GST on tractors cut to five percent

GST on tractors cut to five percent

The Government has decided to reduce general sales tax (GST) on tractors to 5 percent, from 16 percent, aimed at bringing down tractor prices up to Rs 90,000 and extending help to the troubled local industry. However, the rate of GST will be brought to 16
Published 14 Jan, 2012 12:00am
Larkana maintains highest inflation rate

Larkana maintains highest inflation rate

Larkana, the city of the ruling party, continued to observe highest inflation and, for the second consecutive month, it appeared to be the most expensive city of the country. According to State Bank of Pakistan's inflation monitor, among 40 largest cities
Published 14 Jan, 2012 12:00am
Larkana maintains highest inflation rate

Larkana maintains highest inflation rate

Larkana, the city of the ruling party, continued to observe highest inflation and, for the second consecutive month, it appeared to be the most expensive city of the country. According to State Bank of Pakistan's inflation monitor, among 40 largest cities
Published 14 Jan, 2012 12:00am
Larkana maintains highest inflation rate

Larkana maintains highest inflation rate

Larkana, the city of the ruling party, continued to observe highest inflation and, for the second consecutive month, it appeared to be the most expensive city of the country. According to State Bank of Pakistan''s inflation monitor, among 40 largest citie
Published 14 Jan, 2012 12:00am
UK Prime Minister meets Saudi king amid grave tension in Gulf

UK Prime Minister meets Saudi king amid grave tension in Gulf

British Prime Minister David Cameron said the world would "come together" to prevent Iran closing the Strait of Hormuz oil shipment route and that Russia should take a tougher stance against Syria during his visit to Saudi Arabia on Friday.
Published 14 Jan, 2012 12:00am
UK Prime Minister meets Saudi king amid grave tension in Gulf

UK Prime Minister meets Saudi king amid grave tension in Gulf

British Prime Minister David Cameron said the world would "come together" to prevent Iran closing the Strait of Hormuz oil shipment route and that Russia should take a tougher stance against Syria during his visit to Saudi Arabia on Friday.
Published 14 Jan, 2012 12:00am
Russia says would be threatened by military action

Russia says would be threatened by military action

Russia would regard any military intervention linked to Iran's nuclear programme as a threat to its own security, Moscow's departing ambassador to Nato warned on Friday. "Iran is our neighbour," Dmitry Rogozin told reporters in Brussels. "And if Iran is i
Published 14 Jan, 2012 12:00am
Russia says would be threatened by military action

Russia says would be threatened by military action

Russia would regard any military intervention linked to Iran's nuclear programme as a threat to its own security, Moscow's departing ambassador to Nato warned on Friday. "Iran is our neighbour," Dmitry Rogozin told reporters in Brussels. "And if Iran is i
Published 14 Jan, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (January 13, 2012).

Published 14 Jan, 2012 12:00am
Japan casts doubt on US-led oil embargo

Japan casts doubt on US-led oil embargo

The Tehran funeral on Friday of a nuclear scientist blown up by a hitman saw the ruling clergy urge Iranians to rally behind it at a forthcoming election and face down Western threats against Iran's nuclear programme.
Published 14 Jan, 2012 12:00am
Japan casts doubt on US-led oil embargo

Japan casts doubt on US-led oil embargo

The Tehran funeral on Friday of a nuclear scientist blown up by a hitman saw the ruling clergy urge Iranians to rally behind it at a forthcoming election and face down Western threats against Iran's nuclear programme.
Published 14 Jan, 2012 12:00am
Japan casts doubt on US-led oil embargo

Japan casts doubt on US-led oil embargo

The Tehran funeral on Friday of a nuclear scientist blown up by a hitman saw the ruling clergy urge Iranians to rally behind it at a forthcoming election and face down Western threats against Iran''s nuclear programme.
Published 14 Jan, 2012 12:00am
Pakistan should contain budget deficit: IMF

Pakistan should contain budget deficit: IMF

The Inter-national Monetary Fund (IMF) has said that Pakistan needs to contain the budget deficit, implement a cautious monetary policy, and support a responsive exchange rate to get back on the path of growth and sustainability. Gerry Rice, Director of t
Published 14 Jan, 2012 12:00am
Pakistan should contain budget deficit: IMF

Pakistan should contain budget deficit: IMF

The Inter-national Monetary Fund (IMF) has said that Pakistan needs to contain the budget deficit, implement a cautious monetary policy, and support a responsive exchange rate to get back on the path of growth and sustainability. Gerry Rice, Director of t
Published 14 Jan, 2012 12:00am
Pakistan should contain budget deficit: IMF

Pakistan should contain budget deficit: IMF

The Inter-national Monetary Fund (IMF) has said that Pakistan needs to contain the budget deficit, implement a cautious monetary policy, and support a responsive exchange rate to get back on the path of growth and sustainability. Gerry Rice, Director of t
Published 14 Jan, 2012 12:00am
Pakistan should contain budget deficit: IMF

Pakistan should contain budget deficit: IMF

The Inter-national Monetary Fund (IMF) has said that Pakistan needs to contain the budget deficit, implement a cautious monetary policy, and support a responsive exchange rate to get back on the path of growth and sustainability. Gerry Rice, Director of t
Published 14 Jan, 2012 12:00am
Lesco, Qesco allowed raise in tariffs

Lesco, Qesco allowed raise in tariffs

The National Electric Power Regulatory Authority (Nepra) has allowed Lahore Electric Supply Company (Lesco) and Quetta Electric Supply Company (Qesco) to increase tariffs by up to Rs 3.01/unit for the current financial year across the board. According to
Published 14 Jan, 2012 12:00am
Lesco, Qesco allowed raise in tariffs

Lesco, Qesco allowed raise in tariffs

The National Electric Power Regulatory Authority (Nepra) has allowed Lahore Electric Supply Company (Lesco) and Quetta Electric Supply Company (Qesco) to increase tariffs by up to Rs 3.01/unit for the current financial year across the board. According to
Published 14 Jan, 2012 12:00am
Lesco, Qesco allowed raise in tariffs

Lesco, Qesco allowed raise in tariffs

The National Electric Power Regulatory Authority (Nepra) has allowed Lahore Electric Supply Company (Lesco) and Quetta Electric Supply Company (Qesco) to increase tariffs by up to Rs 3.01/unit for the current financial year across the board. According to
Published 14 Jan, 2012 12:00am
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