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Archive - 2012-01-22
Mubarak still rules Egypt
Africa

Mubarak still rules Egypt

CAIRO: Hosni Mubarak is still the president of Egypt and the court trying him has no legal jurisdiction to do so, his de
Published 22 Jan, 2012 01:54pm
Orascom Tel shares soar
Financial

Orascom Tel shares soar

CAIRO: Shares in Egypt's Orascom Telecom (OT) surged 56 percent on Sunday following an eight-week suspension imposed as
Published 22 Jan, 2012 01:06pm
Iraq calls bidders on $450m rail project
Top News

Iraq calls bidders on $450m rail project

BAGHDAD: Iraq has invited foreign companies to compete for a $450 million mono-rail project in the southern holy city of
Published 22 Jan, 2012 12:59pm
Egypt T-bill yield rises
Managed Funds

Egypt T-bill yield rises

CAIRO : Egypt central bank reduced the amount of 266-day treasury bills sold at an auction on Sunday as their yields i
Published 22 Jan, 2012 12:40pm
Thousands protest at immunity for Saleh
Top News

Thousands protest at immunity for Saleh

SANAA: Thousand of Yemenis were protested in Sanaa on Sunday against an immunity law protecting outgoing President Ali A
Published 22 Jan, 2012 12:18pm
Eid Miladun Nabi (PBUH) on Feb 5
Top News

Eid Miladun Nabi (PBUH) on Feb 5

LAHORE: The new moon will be sighted on the evening of January 24 in all cities of Pakistan, if there was no cloud and t
Published 22 Jan, 2012 12:16pm
Kuwait former oil minister dies
Top News

Kuwait former oil minister dies

KUWAIT CITY: A Kuwaiti former oil minister and senior member of the Al-Sabah ruling family, Sheikh Saud Nasser al-Sabah,
Published 22 Jan, 2012 06:56am
Republican Romney to release tax returns
Top News

Republican Romney to release tax returns

WASHINGTON: Republican presidential candidate Mitt Romney said on Sunday he will release tax returns for the last two ye
Published 22 Jan, 2012 05:00am
PSO pays Rs15.2bn to fuel suppliers
Top News

PSO pays Rs15.2bn to fuel suppliers

ABDUL RASHEED AZAD ISLAMABAD : The Pakistan State Oil (PSO) has paid Rs 15.2 billion out of Rs 203.2 billion to local
Published 22 Jan, 2012 04:55am
Pakistan detains 31 Indian fishermen
Top News

Pakistan detains 31 Indian fishermen

KARACHI: Pakistan has detained 31 Indian fishermen and seized their 14 boats for fishing in its territorial waters in th
Published 22 Jan, 2012 04:10am
WeBOC yet to come of age
Top News

WeBOC yet to come of age

IQBAL MIRZA KARACHI : The Web Based One Custom (WeBOC) which was launched several months ago at QICT and subsequently
Published 22 Jan, 2012 03:15am
PSO pays Rs 15.2 billion to fuel suppliers

PSO pays Rs 15.2 billion to fuel suppliers

The Pakistan State Oil (PSO) has paid Rs 15.2 billion out of Rs 203.2 billion to local and international fuel suppliers in one week, Business Recorder has learnt. According to sources in Pakistan's leading fuel supplying company, PSO has requested
Published 22 Jan, 2012 12:00am
PSO pays Rs 15.2 billion to fuel suppliers

PSO pays Rs 15.2 billion to fuel suppliers

The Pakistan State Oil (PSO) has paid Rs 15.2 billion out of Rs 203.2 billion to local and international fuel suppliers in one week, Business Recorder has learnt. According to sources in Pakistan's leading fuel supplying company, PSO has requested
Published 22 Jan, 2012 12:00am
PSO pays Rs 15.2 billion to fuel suppliers

PSO pays Rs 15.2 billion to fuel suppliers

The Pakistan State Oil (PSO) has paid Rs 15.2 billion out of Rs 203.2 billion to local and international fuel suppliers in one week, Business Recorder has learnt. According to sources in Pakistan''s leading fuel supplying company, PSO has requested
Published 22 Jan, 2012 12:00am
Pak-US ties highly important: Bashir

Pak-US ties highly important: Bashir

Pakistan has conveyed to United States that a dialogue process between the two countries will resume after the finalisation of terms of engagements by Pakistan's parliament. Talking to media persons here Saturday, Secretary Ministry of Foreign Affairs Sal
Published 22 Jan, 2012 12:00am
Pak-US ties highly important: Bashir

Pak-US ties highly important: Bashir

Pakistan has conveyed to United States that a dialogue process between the two countries will resume after the finalisation of terms of engagements by Pakistan's parliament. Talking to media persons here Saturday, Secretary Ministry of Foreign Affairs Sal
Published 22 Jan, 2012 12:00am
US envoy in Kabul for talks with Karzai on peace

US envoy in Kabul for talks with Karzai on peace

US envoy Marc Grossman arrived in Kabul Saturday for talks with President Hamid Karzai on preliminary peace negotiations with Taliban insurgents. "The United States stands ready to assist in any way we can an Afghan-led reconciliation process to find a pe
Published 22 Jan, 2012 12:00am
US envoy in Kabul for talks with Karzai on peace

US envoy in Kabul for talks with Karzai on peace

US envoy Marc Grossman arrived in Kabul Saturday for talks with President Hamid Karzai on preliminary peace negotiations with Taliban insurgents. "The United States stands ready to assist in any way we can an Afghan-led reconciliation process to find a pe
Published 22 Jan, 2012 12:00am
Government decision to attract more investors

Government decision to attract more investors

The government decision to approve all SECP proposals is expected to attract more investors and to increase trading activities at the stock markets, analysts said. They said the imposition of capital gains tax and its mode of collection had affected inves
Published 22 Jan, 2012 12:00am
Government decision to attract more investors

Government decision to attract more investors

The government decision to approve all SECP proposals is expected to attract more investors and to increase trading activities at the stock markets, analysts said. They said the imposition of capital gains tax and its mode of collection had affected inves
Published 22 Jan, 2012 12:00am
Government decision to attract more investors

Government decision to attract more investors

The government decision to approve all SECP proposals is expected to attract more investors and to increase trading activities at the stock markets, analysts said. They said the imposition of capital gains tax and its mode of collection had affected inves
Published 22 Jan, 2012 12:00am
SECP proposals, including tax amnesty, approved by government

SECP proposals, including tax amnesty, approved by government

In a move to attract more investors and to increase trading volumes at the stocks markets, the government has approved all proposals including tax amnesty, submitted by Securities and Exchange Commission of Pakistan (SECP). Federal Finance Minister Dr Abd
Published 22 Jan, 2012 12:00am
SECP proposals, including tax amnesty, approved by government

SECP proposals, including tax amnesty, approved by government

In a move to attract more investors and to increase trading volumes at the stocks markets, the government has approved all proposals including tax amnesty, submitted by Securities and Exchange Commission of Pakistan (SECP). Federal Finance Minister Dr Abd
Published 22 Jan, 2012 12:00am
SECP proposals, including tax amnesty, approved by government

SECP proposals, including tax amnesty, approved by government

In a move to attract more investors and to increase trading volumes at the stocks markets, the government has approved all proposals including tax amnesty, submitted by Securities and Exchange Commission of Pakistan (SECP). Federal Finance Minister Dr Abd
Published 22 Jan, 2012 12:00am
Police briefly detain three German diplomats

Police briefly detain three German diplomats

Police on Saturday briefly detained and then released three German diplomats in the north-western city of Peshawar. A security official said they were suspected of being agents with Germany's foreign intelligence agency BND. The three, two men and a woman
Published 22 Jan, 2012 12:00am
Police briefly detain three German diplomats

Police briefly detain three German diplomats

Police on Saturday briefly detained and then released three German diplomats in the north-western city of Peshawar. A security official said they were suspected of being agents with Germany's foreign intelligence agency BND. The three, two men and a woman
Published 22 Jan, 2012 12:00am
Blasts in Syria kill 14; Arab monitors may stay

Blasts in Syria kill 14; Arab monitors may stay

Bombs killed at least 14 prisoners in a Syrian security vehicle on Saturday, and fierce battles erupted between rebels and state forces as the Arab League considered whether to keep monitors in place. The League looks set to extend its monitoring mission
Published 22 Jan, 2012 12:00am
Blasts in Syria kill 14; Arab monitors may stay

Blasts in Syria kill 14; Arab monitors may stay

Bombs killed at least 14 prisoners in a Syrian security vehicle on Saturday, and fierce battles erupted between rebels and state forces as the Arab League considered whether to keep monitors in place. The League looks set to extend its monitoring mission
Published 22 Jan, 2012 12:00am
Thirteen killed in Afghan violence

Thirteen killed in Afghan violence

At least 13 people, including five Afghan border police, a Nato soldier and two would-be suicide bombers were killed across Afghanistan Saturday, officials said. The border guards died when their vehicle was ambushed in Gulran district of Hirat province i
Published 22 Jan, 2012 12:00am
Thirteen killed in Afghan violence

Thirteen killed in Afghan violence

At least 13 people, including five Afghan border police, a Nato soldier and two would-be suicide bombers were killed across Afghanistan Saturday, officials said. The border guards died when their vehicle was ambushed in Gulran district of Hirat province i
Published 22 Jan, 2012 12:00am
Ishaq Dar terms fiscal deficit 'worst crisis'

Ishaq Dar terms fiscal deficit 'worst crisis'

Pakistan Muslim League-Nawaz senior leader Senator Ishaq Dar Saturday described fiscal deficit as "worst crisis" and added that borrowing money for meeting current expenditures is unaffordable. While addressing the concluding session of a conference organ
Published 22 Jan, 2012 12:00am
Ishaq Dar terms fiscal deficit 'worst crisis'

Ishaq Dar terms fiscal deficit 'worst crisis'

Pakistan Muslim League-Nawaz senior leader Senator Ishaq Dar Saturday described fiscal deficit as "worst crisis" and added that borrowing money for meeting current expenditures is unaffordable. While addressing the concluding session of a conference organ
Published 22 Jan, 2012 12:00am
Ishaq Dar terms fiscal deficit ''worst crisis''

Ishaq Dar terms fiscal deficit ''worst crisis''

Pakistan Muslim League-Nawaz senior leader Senator Ishaq Dar Saturday described fiscal deficit as "worst crisis" and added that borrowing money for meeting current expenditures is unaffordable. While addressing the concluding session of a conference organ
Published 22 Jan, 2012 12:00am
Ishaq Dar terms fiscal deficit ''''worst crisis''''

Ishaq Dar terms fiscal deficit ''''worst crisis''''

Pakistan Muslim League-Nawaz senior leader Senator Ishaq Dar Saturday described fiscal deficit as "worst crisis" and added that borrowing money for meeting current expenditures is unaffordable. While addressing the concluding session of a conference organ
Published 22 Jan, 2012 12:00am
Quetta receives first snowfall

Quetta receives first snowfall

The valley of Quetta on Saturday received first snowfall of the winter season, creating great excitement among the dwellers of the city. The provincial capital started receiving intermittent and light snow at about 11:45 am and continued falling with spor
Published 22 Jan, 2012 12:00am
Quetta receives first snowfall

Quetta receives first snowfall

The valley of Quetta on Saturday received first snowfall of the winter season, creating great excitement among the dwellers of the city. The provincial capital started receiving intermittent and light snow at about 11:45 am and continued falling with spor
Published 22 Jan, 2012 12:00am
Sindh Bachayo Committee announces shutter-down strike on January 28

Sindh Bachayo Committee announces shutter-down strike on January 28

Sindh Bachayo (Save) Committee, an alliance of nationalist parties has announced shutter-down strike in province on January 28, 2012 against the 20th constitutional amendment bill. The bill regarding the 20th constitutional amendment was submitted in Nati
Published 22 Jan, 2012 12:00am
Sindh Bachayo Committee announces shutter-down strike on January 28

Sindh Bachayo Committee announces shutter-down strike on January 28

Sindh Bachayo (Save) Committee, an alliance of nationalist parties has announced shutter-down strike in province on January 28, 2012 against the 20th constitutional amendment bill. The bill regarding the 20th constitutional amendment was submitted in Nati
Published 22 Jan, 2012 12:00am
Hundreds of US flights cancelled due to snow

Hundreds of US flights cancelled due to snow

Hundreds of flights were cancelled to and from Chicago's busy airports Friday, disrupting air travel across the country as an arctic storm dumped heavy snow in the region. As of 3.30 pm (2130 GMT) a total of 700 flights had been cancelled at Chicago's O'H
Published 22 Jan, 2012 12:00am
Hundreds of US flights cancelled due to snow

Hundreds of US flights cancelled due to snow

Hundreds of flights were cancelled to and from Chicago's busy airports Friday, disrupting air travel across the country as an arctic storm dumped heavy snow in the region. As of 3.30 pm (2130 GMT) a total of 700 flights had been cancelled at Chicago's O'H
Published 22 Jan, 2012 12:00am
Hundreds of US flights cancelled due to snow

Hundreds of US flights cancelled due to snow

Hundreds of flights were cancelled to and from Chicago''s busy airports Friday, disrupting air travel across the country as an arctic storm dumped heavy snow in the region. As of 3.30 pm (2130 GMT) a total of 700 flights had been cancelled at Chicago''s O
Published 22 Jan, 2012 12:00am
WeBOC yet to come of age

WeBOC yet to come of age

The Web Based One Custom (WeBOC) which was launched several months ago at QICT and subsequently at PICT and KICT has yet to come of age. According to information available here on Saturday, the Federal Board of Revenue (FBR) has received an unexpected ala
Published 22 Jan, 2012 12:00am
WeBOC yet to come of age

WeBOC yet to come of age

The Web Based One Custom (WeBOC) which was launched several months ago at QICT and subsequently at PICT and KICT has yet to come of age. According to information available here on Saturday, the Federal Board of Revenue (FBR) has received an unexpected ala
Published 22 Jan, 2012 12:00am
WeBOC yet to come of age

WeBOC yet to come of age

The Web Based One Custom (WeBOC) which was launched several months ago at QICT and subsequently at PICT and KICT has yet to come of age. According to information available here on Saturday, the Federal Board of Revenue (FBR) has received an unexpected ala
Published 22 Jan, 2012 12:00am
WeBOC yet to come of age

WeBOC yet to come of age

The Web Based One Custom (WeBOC) which was launched several months ago at QICT and subsequently at PICT and KICT has yet to come of age. According to information available here on Saturday, the Federal Board of Revenue (FBR) has received an unexpected ala
Published 22 Jan, 2012 12:00am
FBR issuing SRO: no manual processing of ST refund claims

FBR issuing SRO: no manual processing of ST refund claims

The Federal Board of Revenue has decided to issue a Statutory Regulatory Order (SRO) to bar the officials of the Inland Revenue Service (IRS) from manually processing the sales tax refund in cases where the Expeditious Refund System (ERS) has rejected the
Published 22 Jan, 2012 12:00am
FBR issuing SRO: no manual processing of ST refund claims

FBR issuing SRO: no manual processing of ST refund claims

The Federal Board of Revenue has decided to issue a Statutory Regulatory Order (SRO) to bar the officials of the Inland Revenue Service (IRS) from manually processing the sales tax refund in cases where the Expeditious Refund System (ERS) has rejected the
Published 22 Jan, 2012 12:00am
FBR issuing SRO: no manual processing of ST refund claims

FBR issuing SRO: no manual processing of ST refund claims

The Federal Board of Revenue has decided to issue a Statutory Regulatory Order (SRO) to bar the officials of the Inland Revenue Service (IRS) from manually processing the sales tax refund in cases where the Expeditious Refund System (ERS) has rejected the
Published 22 Jan, 2012 12:00am
3G licence auction on March 28-29

3G licence auction on March 28-29

Pakistan Telecommunication Authority (PTA) on Saturday announced that it will hold auction for license/spectrum of 3G/4G/LTE on March 28 and 29. The authority's decision on 3G license auction came at the Second Investment Awareness Conference held at a ho
Published 22 Jan, 2012 12:00am
3G licence auction on March 28-29

3G licence auction on March 28-29

Pakistan Telecommunication Authority (PTA) on Saturday announced that it will hold auction for license/spectrum of 3G/4G/LTE on March 28 and 29. The authority's decision on 3G license auction came at the Second Investment Awareness Conference held at a ho
Published 22 Jan, 2012 12:00am
3G licence auction on March 28-29

3G licence auction on March 28-29

Pakistan Telecommunication Authority (PTA) on Saturday announced that it will hold auction for license/spectrum of 3G/4G/LTE on March 28 and 29. The authority''s decision on 3G license auction came at the Second Investment Awareness Conference held at a h
Published 22 Jan, 2012 12:00am
Parliament to decide on Nato supply: Malik

Parliament to decide on Nato supply: Malik

Federal Minister for Interior, A Rehman Malik on Saturday said the government will not reopen Nato supply route till the decision of the Parliament. After reviewing progress of Public Corner being developed at F-9 Park, Malik said that "parliament will de
Published 22 Jan, 2012 12:00am
Parliament to decide on Nato supply: Malik

Parliament to decide on Nato supply: Malik

Federal Minister for Interior, A Rehman Malik on Saturday said the government will not reopen Nato supply route till the decision of the Parliament. After reviewing progress of Public Corner being developed at F-9 Park, Malik said that "parliament will de
Published 22 Jan, 2012 12:00am
Maoist landmine attack kills 12 policemen in India

Maoist landmine attack kills 12 policemen in India

A landmine attack by Maoist rebels in eastern India killed at least 12 policemen and injured three others, authorities said on Saturday. The attack, targeting a police vehicle in Jharkhand state, was to protest against the killing of one of the top Maoist
Published 22 Jan, 2012 12:00am
Maoist landmine attack kills 12 policemen in India

Maoist landmine attack kills 12 policemen in India

A landmine attack by Maoist rebels in eastern India killed at least 12 policemen and injured three others, authorities said on Saturday. The attack, targeting a police vehicle in Jharkhand state, was to protest against the killing of one of the top Maoist
Published 22 Jan, 2012 12:00am
Turks march in Paris to denounce genocide bill

Turks march in Paris to denounce genocide bill

Thousands of Turks have marched through Paris denouncing a bill that would make it a crime to deny that the killing of Armenians by Ottoman Turks nearly a century ago was genocide. Turks waving their country's red flag marched on Saturday to the Senate, w
Published 22 Jan, 2012 12:00am
Turks march in Paris to denounce genocide bill

Turks march in Paris to denounce genocide bill

Thousands of Turks have marched through Paris denouncing a bill that would make it a crime to deny that the killing of Armenians by Ottoman Turks nearly a century ago was genocide. Turks waving their country's red flag marched on Saturday to the Senate, w
Published 22 Jan, 2012 12:00am
Trade deficit a matter of concern: UAF vice chancellor

Trade deficit a matter of concern: UAF vice chancellor

Vice Chancellor University of Agriculture, Faisalabad, Professor Dr Iqrar Ahmad Khan said on Saturday that it was a matter of concern that Pakistan's total imports stood at $50 billion while exports $30 billion. He was addressing a workshop organised by t
Published 22 Jan, 2012 12:00am
Textile industry in Punjab without gas supply for 31st day running

Textile industry in Punjab without gas supply for 31st day running

Textile industry in Punjab is out of gas supply for the last 31 days. The textile industry circles said gas supply to textile industry has been suspended for 31 days in Faisalabad region and for 28 days in Lahore region. Resultantly, they added, the indus
Published 22 Jan, 2012 12:00am
PPAF to support Baidarie for conducting analysis: CEO

PPAF to support Baidarie for conducting analysis: CEO

Chief Executive Officer Pakistan Poverty Alleviation Fund (PPAF) Qazi Azmat Isa has said that his organisation will continue supporting the initiatives being taken by Baidarie Sialkot for the economic and social empowerment of the poor and ultra poor livi
Published 22 Jan, 2012 12:00am
Killing in Institute of Cardiology: Governor Punjab seeks report

Killing in Institute of Cardiology: Governor Punjab seeks report

Governor Punjab Latif Khan Khosa talking to media here on Saturday has sought report of killing of 13 persons in Institute of Cardiology recently. He said strict action on the report would be taken against persons involved in the tragedy. Punjab Governor
Published 22 Jan, 2012 12:00am
Committee formed for recovery of two foreigners

Committee formed for recovery of two foreigners

On the instructions of Inspector General of Police of Punjab a high level committee has been constituted for the recovery of two foreigners kidnapped from Multan recently. According to an official handout, the committee will be headed by SSP (Operations)
Published 22 Jan, 2012 12:00am
Government urged to invest in nanotechnolgoy

Government urged to invest in nanotechnolgoy

Pro-Rector (Academic) Ghulam Ishaq Khan Institute of Engineering Sciences and Technology (GIKI), Dr Fazal Ahmad Khalid said on Saturday that developed countries had invested $40 billion on research and development of nanotechnology.
Published 22 Jan, 2012 12:00am
Onion, other vegetable prices skyrocketing

Onion, other vegetable prices skyrocketing

Once again onion rates have sharply increased in retail markets of Karachi. The price of onion has registered sharp increase in the last few days regardless of import from neighbouring countries. Retailers are demanding Rs 45-50 per kg depending on size,
Published 22 Jan, 2012 12:00am
International Youth Day to be named after Arfa Karim

International Youth Day to be named after Arfa Karim

The International Youth Day this year would be named after youngest IT expert, late Arfa Karim, said Sindh Minister for Youth Affairs, Syed Faisal Subzwari. He was speaking as chief guest on Saturday at the certificate distribution ceremony.
Published 22 Jan, 2012 12:00am
Ringleader of bike lifters' gang among six held

Ringleader of bike lifters' gang among six held

Sindh police on Saturday claimed to have arrested six notorious criminals including ringleader of a bike lifters' gang and recovered weapons from their possession. According to police sources, a team of Crime Range West headed by SP Khurram Waris conducte
Published 22 Jan, 2012 12:00am
Office-bearers of various bars call on Chief Justice

Office-bearers of various bars call on Chief Justice

The Chief Justice of Pakistan, Justice Iftikhar Muhammad Chaudhry who visited Supreme Court Registry, Karachi, today had a fairly busy schedule. Apart from chairing the Roll Signing Ceremony of the Supreme Court Lawyers and attending various other meeting
Published 22 Jan, 2012 12:00am
Gas pipeline blown up in Dera Bugti

Gas pipeline blown up in Dera Bugti

Unknown men on Friday blew up gas pipeline in the Pir Koh area of Dera Bugti. Levis officials said that unidentified men had planted explosives along the 16-inch gas pipeline supplying gas to plant from well no 15 and 17. They detonated it with remote con
Published 22 Jan, 2012 12:00am
AVCC-CPLC raid: alleged kidnappers held; two persons recovered

AVCC-CPLC raid: alleged kidnappers held; two persons recovered

Anti Violent Crime Cell (AVCC) and Citizens Police Liaison Committee (CPLC) on Saturday claimed to have arrested two alleged kidnappers and recovered two persons including 30 months old body in captivity, in a joint raid. This was stated by CPLC chief Ahm
Published 22 Jan, 2012 12:00am
PSMC begins raw material import

PSMC begins raw material import

Pakistan Steel Mills Corporation (PSMC) has started import of raw material against the government guaranteed loan worth Rs 6 billion to improve the production capacity and reduce losses. Sources said so far PSMC has finalised two deals for the import of c
Published 22 Jan, 2012 12:00am
Partly cloudy weather likely today

Partly cloudy weather likely today

The met office on Saturday forecasted partly cloudy weather with cool night for Karachi in the next 24 hours. "The low over Southeast Iran now lies over Northeast Balochistan and adjoining areas," the office said, adding that rain/thunderstorm with snowfa
Published 22 Jan, 2012 12:00am
Quetta snowfall brings mercury down in Karachi

Quetta snowfall brings mercury down in Karachi

Cold wave gripped the country on Saturday after snowfall in upper parts and Quetta as a result of a new rain spell, Meteorological Department said. According to Met department, the new weather system has entered from Balochistan triggering snowfall in Que
Published 22 Jan, 2012 12:00am
Advisory for farmers

Advisory for farmers

"Wheat crop is in tiller/shooting development stages in the agriculture plains of the country. Farmers should irrigate the crops as per requirement," the office said in its 10-day advisory for farmers.
Published 22 Jan, 2012 12:00am
Two killed in separate incidents

Two killed in separate incidents

At least two persons including an activist of Pakistan Peoples Party (PPP) and a member of outlawed Peoples Amn Committee (PAC) were killed in separate incidents, here on Saturday. According to police and rescue sources, 26-year-old Faizan son of Khan Moh
Published 22 Jan, 2012 12:00am
Dengue control: Ulema urged to create awareness among people

Dengue control: Ulema urged to create awareness among people

Minister for Labour Welfare & Auqaf Punjab Haji Ehsan-ud-Din Qureshi on Saturday said that Ulema should play their role in creating awareness among the masses about dengue virus. He asked the Ulema to tell people about the importance of cleanliness to avo
Published 22 Jan, 2012 12:00am
558 students awarded degrees at MUET convocation

558 students awarded degrees at MUET convocation

Mehran University of Engineering and Technology (MUET) conferred academic degrees on 558 students at its 14th annual convocation held at Jamshoro on Saturday. As many as 11 gold and 21 silver medals were also awarded to the faculty toppers, best graduates
Published 22 Jan, 2012 12:00am
UHS moot dedicated to Arfa Karim: experts call for eHealth strategy

UHS moot dedicated to Arfa Karim: experts call for eHealth strategy

Health professionals have called for bringing a paradigm shift in the way information is accessed and shared across the health system in Pakistan. They were speaking at the International eHealth Conference, which started here at University of Health Scien
Published 22 Jan, 2012 12:00am
Researchers urged to produce state-of-the-art dengue repellent

Researchers urged to produce state-of-the-art dengue repellent

Speakers on Saturday urged the researchers to produce state-of-the-art dengue repellent to fight epidemic virus that had taken lives of many people in its outbreak last year. They were addressing a seminar arranged by Endowment Fund at New Senate Hall. UA
Published 22 Jan, 2012 12:00am
Wardens, head wardens to be called Jail constables, head constables

Wardens, head wardens to be called Jail constables, head constables

Now, the Wardens and Head Wardens of Sindh Prisons department would be called as Jail constables and head constables like the Sindh Police, Business Recorder learnt here on Saturday. Sindh Prisons department has issued a notification in this regard
Published 22 Jan, 2012 12:00am
Auto industry contributes Rs 64 billion revenue to national kitty

Auto industry contributes Rs 64 billion revenue to national kitty

With total investment of Rs 92 billion and 0.4m job opportunities, the local auto manufacturing industry has contributed substantially to the growth of national economy. Despite some challenges and regulatory issues, the local auto industry has been flour
Published 22 Jan, 2012 12:00am
Alleged medicine reaction claims seven more lives

Alleged medicine reaction claims seven more lives

The death toll from alleged reaction of medicines has risen to 14 as seven more people reportedly lost their lives, here on Saturday. The deaths were reported at local hospitals but doctors said that investigations were under way and final view would be g
Published 22 Jan, 2012 12:00am
President HCCI visits 26th Free Eye Camp

President HCCI visits 26th Free Eye Camp

The President of Hyderabad Chamber of Commerce and Industry Gohar Ullah visited the 26th Free Eye Camp with joint venture of Indus Lions Club and distributed the medicine and eye glasses to the patients. Gohar Ullah said that serving the ailing humanity i
Published 22 Jan, 2012 12:00am
Woman, sons accuse police of forcing for illegal activities

Woman, sons accuse police of forcing for illegal activities

A woman Rehmat Bebi and her sons of Shaikhabad Peshawar have accused Gulbahar police of harassing them and forcing them to resume the illegal activities as drugs peddlers and pay them the share. Speaking at a press conference at Peshawar Press Club on Sat
Published 22 Jan, 2012 12:00am
Yellow Cab Scheme challenged in LHC

Yellow Cab Scheme challenged in LHC

A citizen Hina Ihtisam alleging financial irregularities in Yellow Cab Scheme has approached the Lahore High Court for probe into the matter. The petitioner contended that government had announced to deliver 20,000 cabs and collected about 70,000 applicat
Published 22 Jan, 2012 12:00am
India to take over presidency of Saarc CCI

India to take over presidency of Saarc CCI

After the completion of the term of current Presidency of Bangladesh, the Federation of Indian Chambers of Commerce & Industry (FICCI) will take over the Presidency of Saarc Chamber of Commerce & Industry (Saarc CCI).
Published 22 Jan, 2012 12:00am
GCU EFT raises Rs 10 million for deserving students

GCU EFT raises Rs 10 million for deserving students

The Government College University Lahore Endowment Fund Trust (GCU EFT) Lahore has raised Rs 10 million for those students who cannot afford their academic expenditures. The amount was raised at a fundraiser chaired by Punjab Governor and Old Ravian Sarda
Published 22 Jan, 2012 12:00am
Minister for modern healthcare facilities to citizens

Minister for modern healthcare facilities to citizens

Provincial Minister for Usher and Zakat Ahsanuddin Qureshi has reiterated for taking different measures to dispense modern healthcare facilities to citizens. Talking to media on Saturday, he said that creation of newly Shehbaz Sharif hospital would utterl
Published 22 Jan, 2012 12:00am
AIOU admissions to continue till tomorrow

AIOU admissions to continue till tomorrow

Admission of Postgraduate Programmes of Allama Iqbal Open University (AIOU) for Spring Semester, 2012 are continued across the country and the last date for submission of admission form is January 23. Admission forms and prospectuses of MS/M.Phil and Ph.D
Published 22 Jan, 2012 12:00am
Three associates of former media coordinator held

Three associates of former media coordinator held

Federal Investigation Agency (FIA) on Saturday arrested three companions of Khurram Rasool, a former Media Co-ordinator of Northern Pakistan, Pakistan Television Corporation Limited, in a financial fraud case. However, their identity could not be establis
Published 22 Jan, 2012 12:00am
Indian troops arrest five youths in IHK

Indian troops arrest five youths in IHK

Indian troops have arrested five youth from Handwara and Surankote areas. According to KMS, the troops arrested Mohammad Rafiq Dar, Aabid Hussain Rather and Abdul Rashid Khoja from Handwara, while Mohammad Aslam Chaudhry and Mohammad Amin from Surankote i
Published 22 Jan, 2012 12:00am
International Customs Day to be observed on January 26

International Customs Day to be observed on January 26

International Customs Day will be observed on January 26th all over the world including Pakistan with the theme for 2012 "Borders divide, Customs Connects." The day is celebrated under the aegis of World Customs Organisation (WCO), which has 177 members w
Published 22 Jan, 2012 12:00am
Traders condemn increase in Railways cargo tariff

Traders condemn increase in Railways cargo tariff

Businessmen, factory owners and local traders have strongly condemned the PR decision to increase the cargo tariff by 30 percent. They were of the view that they were already suffering due to suspension and delay of trains as late arrival of goods have ad
Published 22 Jan, 2012 12:00am
Promoting trade activities: India, Pakistan urged to make joint efforts

Promoting trade activities: India, Pakistan urged to make joint efforts

Provincial Minister for Planning & Development Chaudhary Abdul Ghafoor said on Saturday that Pakistan and India would have to make joint efforts for removing misunderstandings and promoting trade activities. He was talking to an Indian delegation led by p
Published 22 Jan, 2012 12:00am
Myanmar sheds pariah label

Myanmar sheds pariah label

Burma, officially named as Myanmar, is fast emerging from its more than five-decade old international isolation and with a bang uncharacteristic of the Asian pattern of such developments. Over the last some weeks, the Burmese authorities have freed hundre
Published 22 Jan, 2012 12:00am
Another journalist's murder

Another journalist's murder

That Pakistan is a dangerous place for journalists is obvious from the fact that as many as 17 journalists and media workers were killed last year alone. This year has barely begun and already a TV/radio broadcaster, Mukarram Khan Atif, has lost his life
Published 22 Jan, 2012 12:00am
Financial literacy - stimulus for robust development

Financial literacy - stimulus for robust development

Sustainability and progress in an increasingly competitive world is largely dependent on the capability and performance of the individuals in a society. Countries that have trained and enabled a majority of their citizens to meet the standards and demands
Published 22 Jan, 2012 12:00am
Berlin Fashion Week counters euro crisis with fun

Berlin Fashion Week counters euro crisis with fun

Designer Michael Michalsky, one of the stars of the Berlin Fashion Week that ended Saturday, set out to counter the doom and gloom of the euro crisis with outfits based on the "principle of fun." Flashes of pink and a psychedelic overall punctuated his sh
Published 22 Jan, 2012 12:00am
Falklands sabre-rattling and a British prince

Falklands sabre-rattling and a British prince

The increasingly noisy sabre-rattling between Britain and Argentina over the issue of the Falklands Islands has thrown a delicate spotlight on the forthcoming deployment of Prince William to the disputed islands. The 29-year-old heir to the throne and sea
Published 22 Jan, 2012 12:00am
Weddings at military bases

Weddings at military bases

Nowadays wedding functions have again started at the military base areas in Karachi, which is really a security threat. Just a few months back, the terrorists attacked two wedding functions at a naval base killing so many people and damaging an aircraft a
Published 22 Jan, 2012 12:00am
Recognising the youth

Recognising the youth

Arfa Karim's death was sudden, unexpected and a huge loss for Pakistan. The nation already has a dearth of heroes the youth can look up to and Arfa's loss has left a void that cannot be filled. She was an incredibly talented girl who had a bright future a
Published 22 Jan, 2012 12:00am
LCCI hands over 50 more houses to flood affected persons

LCCI hands over 50 more houses to flood affected persons

The Lahore Chamber of Commerce and Industry (LCCI) has handed over another 50 houses to the flood affectees of Basti Pir Baksh (District Layyah) that has now become a Model Village. According to the LCCI spokesman, the Model Village, completed in a period
Published 22 Jan, 2012 12:00am
GST cut on tractors: MCCI hails government decision

GST cut on tractors: MCCI hails government decision

President Multan Chamber of Commerce & Industry (MCCI), Mian Anis A Sheikh has hailed the government's decision to reduce GST on tractors from 16 percent to 5 percent so that the prices of tractors may be brought within the purchasing range of small landh
Published 22 Jan, 2012 12:00am
Chairman agriculture forum slams chief minister Punjab

Chairman agriculture forum slams chief minister Punjab

Chairman Agri Forum Pakistan, Muhammad Ibrahim Mughal has slammed Punjab Chief Minister Shahbaz Sharif for not sending Agriculture Minister Malik Ahmad Ali Aulakh to Germany to attend International Green Week (IGW). Talking to a group of journalists on Sa
Published 22 Jan, 2012 12:00am
APTPMA criticises SRO 821

APTPMA criticises SRO 821

All Pakistan Textile Processing Mills Association (APTPMA) leadership criticises the government for introducing SRO 821(1) 2011, asking for NTN and CNIC of unregistered buyers from January 1. A violation of the stipulation, the SRO contemplates, would tan
Published 22 Jan, 2012 12:00am
LHC Chief Justice transfers judges, judicial magistrates

LHC Chief Justice transfers judges, judicial magistrates

The Lahore High Court Chief Justice here on Saturday transferred and posted two District and Sessions Judges (D&SJ) and four civil judges-cum-judicial magistrates in the province. D&SJ Muhammad Tanvir Mir has been transferred from Bahawalpur to Nankana Sa
Published 22 Jan, 2012 12:00am
Chief Justice LHC constitutes 10 DBs, 21 SBs

Chief Justice LHC constitutes 10 DBs, 21 SBs

Chief Justice Lahore High Court (LHC) on Saturday constituted 10 division benches (DBs) and 21 single benches (SBs) for the disposal of the cases pending at the principal seat of the august court for the week commencing from January 23, 2012.
Published 22 Jan, 2012 12:00am
PPP leader from Jhang joins PTI

PPP leader from Jhang joins PTI

Pakistan People's Party (PPP) leader from Jhang, Rana Atta Ullah Khan announced on Saturday to join Pakistan Tehrik-e-Insaaf (PTI). He made announcement of his parting ways from the PPP and joining PTI at a press conference held at Lahore Press Club (LPC)
Published 22 Jan, 2012 12:00am
IN SHORT: Cameroon cocoa prices surge

IN SHORT: Cameroon cocoa prices surge

Farmgate cocoa prices rose between five and 25 percent in Cameroon, the world's fifth largest producer's main growing regions on the back of tight supplies as the main cocoa harvest season tails off, farmers said on Monday. Farmers said prices rose to abo
Published 22 Jan, 2012 12:00am
IN SHORT: China may be world's largest sugar importer

IN SHORT: China may be world's largest sugar importer

China is likely to become the world's largest sugar importer by 2020 as consumption grows along with incomes, said Commonwealth Bank of Australia in a report on Wednesday. CBA said increased urbanisation and a Westernisation of diets would see sugar consu
Published 22 Jan, 2012 12:00am
IN SHORT: Egypt sells 5,202 tonnes of cotton

IN SHORT: Egypt sells 5,202 tonnes of cotton

Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 5,202 tonnes of cotton in the week that ended on January 14, an Alcotexa official said on Monday. The sales comprised 2,072 tonnes of the Giza 88 grade of cotton and 3,130 tonne
Published 22 Jan, 2012 12:00am
IN SHORT: Costa Coffee dampens Whitbread talk

IN SHORT: Costa Coffee dampens Whitbread talk

Costa Coffee, the world's second-biggest coffee shop chain, should remain part of Whitbread Plc to maximise opportunities for international expansion, its Managing Director John Derkach told Reuters on Friday. Analysts have speculated that Costa could be
Published 22 Jan, 2012 12:00am
New York cotton ends at four-day high

New York cotton ends at four-day high

US cotton futures finished at a four-day high on Friday, finding firm footing from surprisingly healthy export sales shown in a government report, analysts said. "Cotton prices are up 40 points on a supportive export sales report," said John Flanagan of F
Published 22 Jan, 2012 12:00am
China's 2012 cotton area seen down

China's 2012 cotton area seen down

China's cotton planting area in 2012 is expected to fall 10.5 percent from last year because of reduced profits, the China Cotton Association said on Tuesday. Cotton acreage is estimated to decline to 5.2 million hectares or 78 million mu this year, as a
Published 22 Jan, 2012 12:00am
Thai, Vietnam rice prices drop as India lifts export cap

Thai, Vietnam rice prices drop as India lifts export cap

Rice prices eased in top exporters Thailand and Vietnam last week due to thin demand and may be undermined further after India lifted its export cap, traders said on Wednesday. The export market in Vietnam has also slowed ahead of a long holiday next week
Published 22 Jan, 2012 12:00am
Indian sugar prices steady

Indian sugar prices steady

Indian sugar futures were steady for a second straight day on Friday as rising supplies from ongoing cane crushing and subdued demand was matched by hopes the government will allow more exports of the sweetener, dealers said. The key February sugar contra
Published 22 Jan, 2012 12:00am
Gold up on euro optimism, silver outshines

Gold up on euro optimism, silver outshines

A modest gold rise was eclipsed by a 4 percent surge in silver on Friday, with investors optimistic about the technical picture and prospects for a Greek deal soon with private bondholders. Bullion gained even as the euro and other commodities fell, after
Published 22 Jan, 2012 12:00am
Thai sugar premiums soften on crushing

Thai sugar premiums soften on crushing

Thai raw sugar premiums weakened this week as crushing accelerated and recent gains in New York futures scared off consumers, while a firming rupee pushed up prices of Indian whites, dealers said on Tuesday. About 33 million tonnes of cane have been crush
Published 22 Jan, 2012 12:00am
Bangladesh to buy 60,000 tons of wheat from Ukraine

Bangladesh to buy 60,000 tons of wheat from Ukraine

Bangladesh has signed a deal to import 60,000 tonnes of wheat from Ukraine at $280 a tonne, including CIF liner out, a senior procurement official said on Wednesday. The price is sharply lower than its first inter-governmental agreement with Kiev in Septe
Published 22 Jan, 2012 12:00am
Congress reaches breakthrough on US aviation bill

Congress reaches breakthrough on US aviation bill

Congressional leaders reached a breakthrough compromise on Friday on the most difficult issue holding up action on long-stalled US aviation legislation that would accelerate modernisation of the ageing air traffic system. Leaders in the Senate and House o
Published 22 Jan, 2012 12:00am
AIDS kills 28,000 in China in 2011

AIDS kills 28,000 in China in 2011

AIDS killed 28,000 people in China last year, and another 48,000 new infections from the HIV virus were discovered in the country, according to an official report on Saturday. In China 780,000 people live with the HIV virus, of which 154,000 developed AID
Published 22 Jan, 2012 12:00am
Islamists secure top spot in Egypt's parliament

Islamists secure top spot in Egypt's parliament

The Muslim Brotherhood won by far the biggest share of seats allocated to party lists in Egypt's first freely-elected parliament in decades, final results confirmed, giving it a major role in drafting the country's new constitution. Banned under former le
Published 22 Jan, 2012 12:00am
Coordinated attacks, gun battles kill 162 in Kano

Coordinated attacks, gun battles kill 162 in Kano

Bomb attacks targeting security forces and gun battles killed at least 162 people in Nigeria's second-largest city of Kano, sources said, as bodies littered the streets on Saturday. A curfew was imposed on Kano in Nigeria's mainly Muslim north after it ex
Published 22 Jan, 2012 12:00am
Ousted Madagascar leader heads home to face possible arrest

Ousted Madagascar leader heads home to face possible arrest

Ousted Madagascar leader Marc Ravalomanana left South Africa on Saturday to return home in a move that could see him arrested and stoke political tensions on the Indian Ocean island. After almost three years in self-imposed exile since he was toppled in a
Published 22 Jan, 2012 12:00am
'Occupy London' campaigners take over new building

'Occupy London' campaigners take over new building

Anti-capitalist protesters said Saturday they have taken over a large building in the City of London financial district. 'Occupy London' activists entered the nine-storey Roman House building in the Barbican earlier this morning, the group announced. "Occ
Published 22 Jan, 2012 12:00am
US, Russia to conduct joint Antarctica inspection

US, Russia to conduct joint Antarctica inspection

The United States and Russia will jointly inspect foreign facilities in Antarctica to make sure environmental and other responsibilities under the 1959 Antarctica Treaty are being met, the State Department said Saturday. A US-Russian team will travel to A
Published 22 Jan, 2012 12:00am
Yemen grants Saleh immunity

Yemen grants Saleh immunity

Yemen's parliament approved a law on Saturday granting outgoing President Ali Abdullah Saleh immunity from prosecution, part of a deal for him to step down after nearly a year of unrest. Protesters and the opposition have accused the security forces, cont
Published 22 Jan, 2012 12:00am
Romney, Gingrich battle in South Carolina race

Romney, Gingrich battle in South Carolina race

US presidential rivals Mitt Romney and Newt Gingrich battled to win last-minute supporters on Saturday in a South Carolina primary that could reshape the Republican nominating contest. Romney, the former governor of Massachusetts, must win the conservativ
Published 22 Jan, 2012 12:00am
After threats, Iran plays down US naval moves

After threats, Iran plays down US naval moves

Iran's Revolutionary Guard Corps said on Saturday it considered the likely return of US warships to the Gulf part of routine activity, backing away from previous warnings to Washington not to re-enter the area. The statement may be seen as an effort to re
Published 22 Jan, 2012 12:00am
Afghan asylum bids hit 10-year high

Afghan asylum bids hit 10-year high

More Afghans fled the country and sought asylum abroad in 2011 than in any other year since the start of the decade-long war, suggesting that many are looking for their own exit strategy as international troops prepare to withdraw. From January to Novembe
Published 22 Jan, 2012 12:00am
Australian military grounds Black Hawk helicopters

Australian military grounds Black Hawk helicopters

Australia's military has grounded its fleet of Black Hawk helicopters after fractured bolts were found during a routine inspection, the defence ministry said on Saturday The 33-aircraft fleet was temporarily grounded on Thursday for further safety checks,
Published 22 Jan, 2012 12:00am
Italy, Libya in new political pact to boost ties

Italy, Libya in new political pact to boost ties

Italy and Libya signed a wide-ranging political pact on Saturday to redefine their ties in the post-Qadhafi era, as Italian Prime Minister Mario Monti made his first visit to Tripoli since the dictator's fall. It was unclear if the new "Tripoli Declaratio
Published 22 Jan, 2012 12:00am
History-making Nishikori, Zheng roll on

History-making Nishikori, Zheng roll on

Kei Nishikori became the first Japanese man to reach the Australian Open round of 16 in the open era on Saturday as Zheng Jie joined Chinese number one Li Na in the fourth round. Nishikori, the 24th seed, matched his best performance at a grand slam by re
Published 22 Jan, 2012 12:00am
Serena happy but tears as seeds exit

Serena happy but tears as seeds exit

Five-time champion Serena Williams enjoyed a convincing win in the third round of the Australian Open on Saturday, but there were tears as two of the top 10 seeds departed after major upsets. Williams thrashed world number 92 Greta Arn 6-1, 6-1 in 59 minu
Published 22 Jan, 2012 12:00am
Djokovic, Murray power into fourth round

Djokovic, Murray power into fourth round

Defending champion Novak Djokovic blitzed his way into the Australian Open fourth round on Saturday, conceding just two games as big guns Andy Murray and Jo-Wilfried Tsonga also eased through. The Serbian top seed, yet to drop a set in Melbourne as he cha
Published 22 Jan, 2012 12:00am
Kukushkin strikes blow for Kazakhstan

Kukushkin strikes blow for Kazakhstan

World number 92 Mikhail Kukushkin wrote his name in Kazakh history with the country's best ever male performance at a grand slam Saturday, thanks to a bizarre victory over injury-hit Gael Monfils. Kukushkin capitalised on a back problem which drastically
Published 22 Jan, 2012 12:00am
Ajmal's action not my problem, says Trott

Ajmal's action not my problem, says Trott

England batsman Jonathan Trott on Saturday refused to be drawn into the ongoing controversy over Pakistani off-spinner Saeed Ajmal's action, saying it was up to the game's governing body and officials to decide. The prelude to the three-Test series was su
Published 22 Jan, 2012 12:00am
Russia 2018 plans ahead of Brazil 2014: Blatter

Russia 2018 plans ahead of Brazil 2014: Blatter

Russia is already better prepared to host the 2018 World Cup than Brazil, which will stage the 32-team soccer extravaganza in 2014, FIFA president Sepp Blatter said on Friday. "I can tell you that we are far, far advanced (in Russia).
Published 22 Jan, 2012 12:00am
Sri Lanka turn tables on South Africa

Sri Lanka turn tables on South Africa

Sri Lanka celebrated a rare success Friday on a tour to South Africa with a five-wicket victory in the fourth one-day international. Big knocks from captain Tillakaratne Dilshan (87), man-of-the-match Thisara Perera (69) and Dinesh Chandimal (59) lifted t
Published 22 Jan, 2012 12:00am
Messi not greatest yet, says Pele

Messi not greatest yet, says Pele

Brazilian legend Pele insisted on Friday that Argentine superstar Lionel Messi, a Champions League winner with Barcelona and three-time Ballon D'Or king, cannot yet be considered as one of the world's greatest players. Pele called on his own record of thr
Published 22 Jan, 2012 12:00am
Torres woe continues as Chelsea slip-up

Torres woe continues as Chelsea slip-up

Fernando Torres' three-month goal-drought continued as Chelsea missed the chance to close the gap on the Premier League leaders with a 0-0 draw at Premier League newboys Norwich on Saturday. Chelsea enjoyed the better chances of a scrappy game at Carrow R
Published 22 Jan, 2012 12:00am
Former South Africa defender stabbed to death

Former South Africa defender stabbed to death

Former South Africa defender Jeffrey Ntuka, who joined Chelsea nine years ago, was stabbed to death at a night-club in Free State town Kroonstad early Saturday, a police spokesman said. Ntuka, 26, never played for the English Premier League club and after
Published 22 Jan, 2012 12:00am
HCCI to continue promoting sports activities

HCCI to continue promoting sports activities

President Hyderabad Chamber of Commerce & Industry (HCCI) Gohar Ullah said on Saturday that HCCI will continue to promote sports activities in Hyderabad. He was addressing the prize distribution ceremony of Friends Table Club Table Tennis Tournament in Na
Published 22 Jan, 2012 12:00am
French women win World Cup relay

French women win World Cup relay

France won the 4X6 kilometres women's World Cup biathlon relay race here on Saturday ahead of Belarus and Russia. It was the first French win of the season after a second-place finish at Hochfilzen in Austria on December 11 and a third place at Oberhof in
Published 22 Jan, 2012 12:00am
Yuan closes below for first time in 2012

Yuan closes below for first time in 2012

The yuan slumped on Friday, closing weaker than the central bank's fixing for the first time this year, reflecting increased demand for dollars at month's end and banks' desire to avoid holding short dollar positions across the holiday period. Spot yuan e
Published 22 Jan, 2012 12:00am
African currencies outlook

African currencies outlook

Ghana's cedi is likely to halt its two-week slide against the dollar next week due to central bank intervention, a factor that is also likely to underpin east Africa's shillings.
Published 22 Jan, 2012 12:00am
Latam currencies steady

Latam currencies steady

Brazil's real and Mexico's peso held steady on Friday against the dollar, hanging on to gains after a three-week rally in Latin American currencies, as investors avoided making bets until Greece and its creditors agree to debt-reduction terms. Creditors a
Published 22 Jan, 2012 12:00am
Euro slips from two-week high, Greek debt deal awaited

Euro slips from two-week high, Greek debt deal awaited

The euro fell from an early two-week high against the US dollar on Friday as investors grew wary about the outcome of Greek debt negotiations ahead of the weekend despite growing expectations of a deal. But so far this week, the euro has risen more than 2
Published 22 Jan, 2012 12:00am
Speculators' euro shorts at fourth straight record high

Speculators' euro shorts at fourth straight record high

Currency speculators increased their net bets in favour of the US dollar in the latest week and boosted net euro shorts to a fourth straight record as doubts persist about the region's debt crisis, according to data from the Commodity Futures Trading Comm
Published 22 Jan, 2012 12:00am
Canadian dollar sags after weak inflation data

Canadian dollar sags after weak inflation data

Canada's dollar sagged against its US counterpart on Friday as weaker-than-expected inflation data gave the Bank of Canada more breathing room to keep interest rates low or cut them if Europe's debt problems worsen. Slower growth in gasoline prices and lo
Published 22 Jan, 2012 12:00am
Dollar's detractors may be missing its comeback

Dollar's detractors may be missing its comeback

The dollar's many detractors may have missed it, but the much-maligned US currency is on rise. The greenback thought to be on life support and mostly surviving on safe-haven flows, hit bottom three years ago and is now in a long-term recovery.
Published 22 Jan, 2012 12:00am
Dow and S&P 500 post best week since Christmas

Dow and S&P 500 post best week since Christmas

US stocks posted their best week since Christmas, even with a mixed finish on Friday after strong earnings from tech bellwethers IBM and Intel contrasted with Google's disappointing report. The market heads into the most hectic week so far in this earning
Published 22 Jan, 2012 12:00am
US bond market shows scant fear of inflation

US bond market shows scant fear of inflation

US bond investors are showing no immediate worries about a resurgence in inflation, even though the Federal Reserve is thought to be close to adopting an official target for price growth as soon as next week. Though 10-year inflation expectations have ris
Published 22 Jan, 2012 12:00am
US bond market shows scant fear of inflation

US bond market shows scant fear of inflation

US bond investors are showing no immediate worries about a resurgence in inflation, even though the Federal Reserve is thought to be close to adopting an official target for price growth as soon as next week. Though 10-year inflation expectations have ris
Published 22 Jan, 2012 12:00am
JGB sentiment improves sharply to almost neutral

JGB sentiment improves sharply to almost neutral

Sentiment in the Japanese government bond market improved sharply after Standard and Poor's mass downgrades of eurozone countries rekindled worries about Europe's debt crisis, a weekly Reuters survey of major market players showed on Monday. The survey's
Published 22 Jan, 2012 12:00am
JGB sentiment improves sharply to almost neutral

JGB sentiment improves sharply to almost neutral

Sentiment in the Japanese government bond market improved sharply after Standard and Poor's mass downgrades of eurozone countries rekindled worries about Europe's debt crisis, a weekly Reuters survey of major market players showed on Monday. The survey's
Published 22 Jan, 2012 12:00am
Indian bond yields little changed

Indian bond yields little changed

Indian federal bond yields were little changed on Friday with traders reluctant to build large positions ahead of the Reserve Bank of India's policy review on Tuesday. The 10-year benchmark bond yield ended at 8.18 percent, up 1 basis point from Thursday'
Published 22 Jan, 2012 12:00am
Indian bond yields little changed

Indian bond yields little changed

Indian federal bond yields were little changed on Friday with traders reluctant to build large positions ahead of the Reserve Bank of India's policy review on Tuesday. The 10-year benchmark bond yield ended at 8.18 percent, up 1 basis point from Thursday'
Published 22 Jan, 2012 12:00am
Spreads tighten on eurozone funding relief, Winsway falls

Spreads tighten on eurozone funding relief, Winsway falls

Asian credit spreads compressed and new issues rallied on the back of positive global risk sentiment but Chinese high yield industrial bonds underperformed following fraud allegations about Winsway Coking Coal's books. "There is some real money buying. Th
Published 22 Jan, 2012 12:00am
Spreads tighten on eurozone funding relief, Winsway falls

Spreads tighten on eurozone funding relief, Winsway falls

Asian credit spreads compressed and new issues rallied on the back of positive global risk sentiment but Chinese high yield industrial bonds underperformed following fraud allegations about Winsway Coking Coal's books. "There is some real money buying. Th
Published 22 Jan, 2012 12:00am
Treasuries drop on Greece hopes, before supply

Treasuries drop on Greece hopes, before supply

US Treasuries debt prices fell on Friday as investors took a more optimistic tone on Greece's debt restructuring talks, reducing the demand for safe-haven bonds, and ahead of $99 billion in new supply planned for next week. Greece was closing in on an ini
Published 22 Jan, 2012 12:00am
Treasuries drop on Greece hopes, before supply

Treasuries drop on Greece hopes, before supply

US Treasuries debt prices fell on Friday as investors took a more optimistic tone on Greece's debt restructuring talks, reducing the demand for safe-haven bonds, and ahead of $99 billion in new supply planned for next week. Greece was closing in on an ini
Published 22 Jan, 2012 12:00am
TSX edges higher on day, up 1.4 percent on week

TSX edges higher on day, up 1.4 percent on week

Canadian stocks ended slightly higher on Friday as financial issues rose on increased optimism about Europe, but had their momentum slowed as signs of weakness in China's factory activity stoked demand worries. News that Greece was closing in on an initia
Published 22 Jan, 2012 12:00am
Latam stocks hit over four-month high

Latam stocks hit over four-month high

Latin American stocks ended mixed on Friday after a one-week rally lost steam as investors waited to see if Greece would cut a deal in time to avoid a default. The MSCI Latin American stock index inched up 0.10 percent. The index jumped more than five per
Published 22 Jan, 2012 12:00am
ADR Report: Asian stocks lead after strong rally in region

ADR Report: Asian stocks lead after strong rally in region

US-listed shares of foreign companies were led higher by Asian stocks on Friday after major stock markets in the region ended with strong gains. The BNY Mellon index of leading Asian ADRs rose 1.1 percent, while the BNY Mellon index of leading American De
Published 22 Jan, 2012 12:00am
Dana Gas hires advisers for convertible sukuk

Dana Gas hires advisers for convertible sukuk

UAE energy group Dana Gas said it had appointed an international firm to advise on its $920 million convertible sukuk maturing in October, adding it would continue to meet its obligations. Dana Gas, whose share price has been battered by concerns about ho
Published 22 Jan, 2012 12:00am
Dana Gas hires advisers for convertible sukuk

Dana Gas hires advisers for convertible sukuk

UAE energy group Dana Gas said it had appointed an international firm to advise on its $920 million convertible sukuk maturing in October, adding it would continue to meet its obligations. Dana Gas, whose share price has been battered by concerns about ho
Published 22 Jan, 2012 12:00am
Banks battle for business as firms ditch IPOs

Banks battle for business as firms ditch IPOs

Investment banks are scrambling to keep hard-won mandates as European companies abandon plans for initial public offerings in favour of a sale or spin off, opening up the field to rivals. French media group Lagardere recently mandated Lazard to find a buy
Published 22 Jan, 2012 12:00am
G20 pushes for extra steps from Europe on crisis

G20 pushes for extra steps from Europe on crisis

Group of 20 nations agreed to push Europe to take extra steps to resolve the debt crisis on Friday as they inch toward a deal to boost the International Monetary Fund's firepower. Mexico Deputy Finance Minister Gerardo Rodriguez said talks between G20 off
Published 22 Jan, 2012 12:00am
China faces 'bigger challenges' in Dragon year: Wen

China faces 'bigger challenges' in Dragon year: Wen

China will face "bigger challenges" in the new Year of the Dragon its Prime Minister Wen Jiabao warned Saturday, as he pledged economic reforms to improve wealth distribution, state media reported. "We are going to face bigger challenges in the new year,"
Published 22 Jan, 2012 12:00am
Chinese firms invest $184 million in Taiwan

Chinese firms invest $184 million in Taiwan

Taiwan's government said Saturday that Chinese firms had invested around $184 million on the island since it relaxed rules on mainland investment in mid-2009 amid warming relations. A total of 204 Chinese companies have set up subsidiaries on the island o
Published 22 Jan, 2012 12:00am
Greece's creditors leave Athens, talks to continue

Greece's creditors leave Athens, talks to continue

The representatives of Greece's private creditors left Athens unexpectedly on Saturday without a deal on a debt swap plan that is vital to avert a disorderly default, sources close to the negotiations told Reuters. Negotiations will continue over the phon
Published 22 Jan, 2012 12:00am
Morgan Stanley CEO to receive $10.5 million bonus

Morgan Stanley CEO to receive $10.5 million bonus

Morgan Stanley Chief Executive James Gorman was awarded a $10.5 million bonus for 2011, down 25 percent from the previous year, according to a source familiar with the matter. All of Gorman's bonus will be deferred for a period of two to three years, incl
Published 22 Jan, 2012 12:00am
Obama promises 'blueprint for actions' to improve economy

Obama promises 'blueprint for actions' to improve economy

US President Barack Obama promised Saturday to present a "blueprint for actions" to improve the country's economy and business climate, as he prepared for a major address to the nation next week. Obama will deliver his nationally-televised State of the Un
Published 22 Jan, 2012 12:00am
California's jobless rate hits three-year low

California's jobless rate hits three-year low

California's unemployment rate fell to an almost three-year low of 11.1 percent in December, and analysts said a gradual economic recovery appears to be taking hold that will bring the rate down further in small steps. December marked the fourth straight
Published 22 Jan, 2012 12:00am
Amazon setting up first 'fulfilment centre' in India

Amazon setting up first 'fulfilment centre' in India

Amazon.com Inc is setting up its first 'fulfillment centre' in India as the world's largest Internet retailer tries to break into the world's second most-populous nation. Fulfillment centres are giant warehouses that help Amazon and other online retailers
Published 22 Jan, 2012 12:00am
New Iran sanctions most threaten non-US banks

New Iran sanctions most threaten non-US banks

The US Treasury Department is under bipartisan pressure to draft tough rules implementing an Iranian sanctions law enacted in December. While the effect on US financial institutions is likely to be minimal, foreign financial institutions may take a hit.
Published 22 Jan, 2012 12:00am
Former lawyer gets 45-day prison term in UBS tax case

Former lawyer gets 45-day prison term in UBS tax case

An 82-year-old disbarred New York maritime lawyer was sentenced to 45 days in prison on Friday after he admitted to hiding more than $26.4 million at Swiss bank UBS AG to avoid paying taxes. The former lawyer, Kenneth Heller, banked the money with UBS and
Published 22 Jan, 2012 12:00am
Tepco to be nationalised for 10 years

Tepco to be nationalised for 10 years

Tokyo Electric Power Co will in effect be nationalised for at least 10 years and is expected to become profitable in its 2013 business year, under a plan by a government body for funding nuclear disaster compensation, Kyodo news agency reported on Saturda
Published 22 Jan, 2012 12:00am
Corn export premiums steady at US Gulf Coast

Corn export premiums steady at US Gulf Coast

Corn export premiums at the US Gulf Coast were mostly steady on Friday after rising earlier in the week on stronger export demand and slow farmer selling that has limited supplies available to grain shippers, traders said. Rising corn prices in rival expo
Published 22 Jan, 2012 12:00am
Rain dampens harvest in top Brazil's soya area

Rain dampens harvest in top Brazil's soya area

Brazil's No 1 soya state has escaped drought denting prospects for the oilseed in southern states, but its harvest has been slowed by the opposite problem of excess rain that shows no sign of letting up. The center western state of Mato Grosso, which grow
Published 22 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 133,454 tonnes of cargo comprising 108,274 tonnes of import cargo and 25,180 tonnes of export cargo including 5,615 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 108,274
Published 22 Jan, 2012 12:00am
Brazil's 2012-13 cane output to rise: analyst

Brazil's 2012-13 cane output to rise: analyst

Brazil's 2012-13 center-south cane output should rise about a tenth to between 540 million and 560 million tonnes, up from 492 million in the almost-finished 2011/12 harvest, sugar and ethanol consultant Job Economia said on Thursday.
Published 22 Jan, 2012 12:00am
US Midwest corn and soyabeans bids firmer

US Midwest corn and soyabeans bids firmer

Spot basis bids for corn and soyabeans were firm around the US Midwest on Friday as continued slow farmer sales led some processors and elevators to raise bids, dealers said. Some grain merchants expected the corn bids to continue on a firming trend as mo
Published 22 Jan, 2012 12:00am
China's December refined copper imports rise on record

China's December refined copper imports rise on record

Chinese imports of refined copper rose 18.3 percent in December on the month to a record high due to improved arbitrage and increased use of copper for financing purposes, but inflows fell 3 percent in 2011 from 2010 on low imports in the first half.
Published 22 Jan, 2012 12:00am
European cash cocoa market eases on weak demand

European cash cocoa market eases on weak demand

Price differentials in the European cash cocoa market eased this week due to weak demand as dealers were reluctant to step in, waiting to hear news about the mid crop quality in Ivory Coast, the world's top producer. Ivory Coast differentials were about 7
Published 22 Jan, 2012 12:00am
China fails to divert iron ore buys from Australia, Brazil

China fails to divert iron ore buys from Australia, Brazil

China diversified its spot iron ore buying away from India in 2011, largely in favour of South Africa, but failed to reduce its dependence on term purchases from top suppliers Australia and Brazil, customs data showed on Saturday. Chinese planners have sa
Published 22 Jan, 2012 12:00am
Prices mostly move downwards on grain market

Prices mostly move downwards on grain market

Most of the commodity items moved down on the wholesale grain market on Saturday in process of trading, dealers said. On the cereal side gur lost Rs 200 to Rs 4000-5000 due to steady arrivals from upcountry centres, other items were unmoved due to balance
Published 22 Jan, 2012 12:00am
Business volume low, prices remain range-bound on cotton market

Business volume low, prices remain range-bound on cotton market

Most of the mills and spinners were on the sidelines amid expectations of fall in prices, dealers said on the cotton market on Saturday. The official spot rate was inert at Rs 5,600, they said. Prices of seedcotton in Sindh were at Rs 2100-2300 and in the
Published 22 Jan, 2012 12:00am
Oil cake market rates

Oil cake market rates

Mixed trend was seen on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The January contract that had ended at Rs 1156.50 commenced with sharp fall of Rs 2.50 to Rs 1154.00. The March vaida which closed at Rs 773.40
Published 22 Jan, 2012 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (January 21, 2012).

Published 22 Jan, 2012 12:00am
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