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Archive - 2012-01-29
European debt crisis easing: Sarkozy
Top News

European debt crisis easing: Sarkozy

PARIS: French President Nicolas Sarkozy insisted Sunday that measures taken to end the financial crisis threatening Euro
Published 29 Jan, 2012 07:35pm
No wheat shortage in country: Firdous
Top News

No wheat shortage in country: Firdous

KOTLI LOHARAN: Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan on Sunday said that there was no
Published 29 Jan, 2012 04:16pm
Arab League chief heads to UN over Syria
Top News

Arab League chief heads to UN over Syria

CAIRO: Arab League chief Nabil Elaraby headed to New York on Sunday seeking to win support from the UN Security Council
Published 29 Jan, 2012 12:10pm
Iran gasoline demand falls
Energy

Iran gasoline demand falls

DUBAI: Iran's gasoline consumption is falling rapidly thanks to higher prices and compressed natural gas (CNG) use, acco
Published 29 Jan, 2012 10:49am
India still foreign investment hot spot
Top News

India still foreign investment hot spot

MUMBAI: Foreign direct investment in India is set to swell in coming years as investor’s stomach a lack of transparency,
Published 29 Jan, 2012 06:13am
Inflation likely to fall to 12pc
Top News

Inflation likely to fall to 12pc

RECORDER REPORT KARACHI: Food inflation has receded significantly and is the major contributor towards the slowdown i
Published 29 Jan, 2012 05:46am
SBP fears decline in farm incomes
Top News

SBP fears decline in farm incomes

RECORDER REPORT KARACHI: The State Bank of Pakistan fears that farm incomes would decline this year which could have
Published 29 Jan, 2012 05:41am
EU bids to turn a page in debt crisis
Top News

EU bids to turn a page in debt crisis

BRUSSELS: European leaders will attempt to close one chapter in the debt crisis on Monday by putting the finishing touch
Published 29 Jan, 2012 05:30am
''Balanced oil market important for Saudi Arabia''

''Balanced oil market important for Saudi Arabia''

Having a balanced oil market is important for Saudi Arabia, the world''s largest producer and exporter, the kingdom''s Foreign Minister Prince Saud al-Faisal said on Saturday, amid mounting uncertainty over Iranian oil supplies due to sanctions. Respondin
Published 29 Jan, 2012 12:00am
Bankers resist regulatory restraint on bonuses

Bankers resist regulatory restraint on bonuses

Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar. Business leaders and bankers at the annual Davos forum were largely dismissive of attempts to cap or restric
Published 29 Jan, 2012 12:00am
Bankers resist regulatory restraint on bonuses

Bankers resist regulatory restraint on bonuses

Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar. Business leaders and bankers at the annual Davos forum were largely dismissive of attempts to cap or restric
Published 29 Jan, 2012 12:00am
Bankers resist regulatory restraint on bonuses

Bankers resist regulatory restraint on bonuses

Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar. Business leaders and bankers at the annual Davos forum were largely dismissive of attempts to cap or restric
Published 29 Jan, 2012 12:00am
Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Japanese Prime Minister Yoshihiko Noda urged the eurozone to get to grips quickly with its debt crisis on Saturday, branding it the biggest threat to the global economy. "It is indeed the major source of risks for the global economy," Noda, speaking via v
Published 29 Jan, 2012 12:00am
Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Japanese Prime Minister Yoshihiko Noda urged the eurozone to get to grips quickly with its debt crisis on Saturday, branding it the biggest threat to the global economy. "It is indeed the major source of risks for the global economy," Noda, speaking via v
Published 29 Jan, 2012 12:00am
Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Eurozone crisis biggest threat to world economy: Japanese Prime Minister

Japanese Prime Minister Yoshihiko Noda urged the eurozone to get to grips quickly with its debt crisis on Saturday, branding it the biggest threat to the global economy. "It is indeed the major source of risks for the global economy," Noda, speaking via v
Published 29 Jan, 2012 12:00am
Haqqani seeks Supreme Court permission to leave Pakistan

Haqqani seeks Supreme Court permission to leave Pakistan

Former Pakistan ambassador to the US Husain Haqqani Saturday filed an application in the Supreme Court, seeking the apex court's permission to leave the country for settling his family and job affairs. Haqqani's counsel Asma Jahangir filed the application
Published 29 Jan, 2012 12:00am
Haqqani seeks Supreme Court permission to leave Pakistan

Haqqani seeks Supreme Court permission to leave Pakistan

Former Pakistan ambassador to the US Husain Haqqani Saturday filed an application in the Supreme Court, seeking the apex court's permission to leave the country for settling his family and job affairs. Haqqani's counsel Asma Jahangir filed the application
Published 29 Jan, 2012 12:00am
Audit of tax receipts: AGP office empowered to acquire record

Audit of tax receipts: AGP office empowered to acquire record

The Auditor General of Pakistan office is legally empowered to summon the Federal Board of Revenue (FBR) to acquire taxpayers' record for audit under Constitution, AGP Ordinance, Sales Tax Act 1990 along with judgements of the Supreme Court of Pakistan, I
Published 29 Jan, 2012 12:00am
Audit of tax receipts: AGP office empowered to acquire record

Audit of tax receipts: AGP office empowered to acquire record

The Auditor General of Pakistan office is legally empowered to summon the Federal Board of Revenue (FBR) to acquire taxpayers' record for audit under Constitution, AGP Ordinance, Sales Tax Act 1990 along with judgements of the Supreme Court of Pakistan, I
Published 29 Jan, 2012 12:00am
Audit of tax receipts: AGP office empowered to acquire record

Audit of tax receipts: AGP office empowered to acquire record

The Auditor General of Pakistan office is legally empowered to summon the Federal Board of Revenue (FBR) to acquire taxpayers'' record for audit under Constitution, AGP Ordinance, Sales Tax Act 1990 along with judgements of the Supreme Court of Pakistan,
Published 29 Jan, 2012 12:00am
US to send floating commando base to Middle East

US to send floating commando base to Middle East

The US military plans to send a large floating base for commando teams to the Middle East amid rising tensions with Iran and intensifying fighting in Yemen, The Washington Post reported Saturday. Citing unspecified procurement documents, the newspaper sai
Published 29 Jan, 2012 12:00am
US to send floating commando base to Middle East

US to send floating commando base to Middle East

The US military plans to send a large floating base for commando teams to the Middle East amid rising tensions with Iran and intensifying fighting in Yemen, The Washington Post reported Saturday. Citing unspecified procurement documents, the newspaper sai
Published 29 Jan, 2012 12:00am
IAEA team heads to Iran to seek nuclear answers

IAEA team heads to Iran to seek nuclear answers

Senior United Nations nuclear inspectors headed to Tehran on Saturday to press Iranian officials to address suspicions that the Islamic state is seeking atomic weapons. The UN International Atomic Energy Agency hopes Iran, which has indicated readiness to
Published 29 Jan, 2012 12:00am
IAEA team heads to Iran to seek nuclear answers

IAEA team heads to Iran to seek nuclear answers

Senior United Nations nuclear inspectors headed to Tehran on Saturday to press Iranian officials to address suspicions that the Islamic state is seeking atomic weapons. The UN International Atomic Energy Agency hopes Iran, which has indicated readiness to
Published 29 Jan, 2012 12:00am
Police search News International offices in London, arrest four

Police search News International offices in London, arrest four

Police said on Saturday they were searching the London offices of Rupert Murdoch's News International and had arrested four people, including a policeman, in an investigation into suspected payments to police officers for information. The probe is linked
Published 29 Jan, 2012 12:00am
Police search News International offices in London, arrest four

Police search News International offices in London, arrest four

Police said on Saturday they were searching the London offices of Rupert Murdoch's News International and had arrested four people, including a policeman, in an investigation into suspected payments to police officers for information. The probe is linked
Published 29 Jan, 2012 12:00am
African Union inaugurates Chinese-built headquarters

African Union inaugurates Chinese-built headquarters

The African Union inaugurated Saturday its new high-rise headquarters in the Ethiopian capital, built and donated by China at a cost of $200 million. "The towering complex speaks volumes about our friendship to the African people, and testifies to our str
Published 29 Jan, 2012 12:00am
African Union inaugurates Chinese-built headquarters

African Union inaugurates Chinese-built headquarters

The African Union inaugurated Saturday its new high-rise headquarters in the Ethiopian capital, built and donated by China at a cost of $200 million. "The towering complex speaks volumes about our friendship to the African people, and testifies to our str
Published 29 Jan, 2012 12:00am
PML-N rules out talk on Nato supplies

PML-N rules out talk on Nato supplies

Pakistan Muslim League-Nawaz (PML-N) on Saturday ruled out any talk on the government's expected move to reopen Nato supplies. "If the government enjoy a two-thirds majority, it should not require the opposition's help for the passage of any constitutiona
Published 29 Jan, 2012 12:00am
PML-N rules out talk on Nato supplies

PML-N rules out talk on Nato supplies

Pakistan Muslim League-Nawaz (PML-N) on Saturday ruled out any talk on the government's expected move to reopen Nato supplies. "If the government enjoy a two-thirds majority, it should not require the opposition's help for the passage of any constitutiona
Published 29 Jan, 2012 12:00am
Substantial increase in prices of essential kitchen items

Substantial increase in prices of essential kitchen items

The prices of most of the essential kitchen items registered a substantial increase in the month of January as compared to the preceding month, reveals a survey conducted by Business Recorder here on Saturday. Traders and wholesalers in different m
Published 29 Jan, 2012 12:00am
Substantial increase in prices of essential kitchen items

Substantial increase in prices of essential kitchen items

The prices of most of the essential kitchen items registered a substantial increase in the month of January as compared to the preceding month, reveals a survey conducted by Business Recorder here on Saturday. Traders and wholesalers in different m
Published 29 Jan, 2012 12:00am
Substantial increase in prices of essential kitchen items

Substantial increase in prices of essential kitchen items

The prices of most of the essential kitchen items registered a substantial increase in the month of January as compared to the preceding month, reveals a survey conducted by Business Recorder here on Saturday. Traders and wholesalers in different m
Published 29 Jan, 2012 12:00am
POL prices: Senators criticise petroleum minister's action

POL prices: Senators criticise petroleum minister's action

Both Opposition and Treasury members in the Senate on Saturday raised serious objections to the announcement of petroleum products' prices by the Petroleum Minister on the plea that how he could make such an announcement when this comes under the purview
Published 29 Jan, 2012 12:00am
POL prices: Senators criticise petroleum minister's action

POL prices: Senators criticise petroleum minister's action

Both Opposition and Treasury members in the Senate on Saturday raised serious objections to the announcement of petroleum products' prices by the Petroleum Minister on the plea that how he could make such an announcement when this comes under the purview
Published 29 Jan, 2012 12:00am
POL prices: Senators criticise petroleum minister''s action

POL prices: Senators criticise petroleum minister''s action

Both Opposition and Treasury members in the Senate on Saturday raised serious objections to the announcement of petroleum products'' prices by the Petroleum Minister on the plea that how he could make such an announcement when this comes under the purview
Published 29 Jan, 2012 12:00am
Goods transport: conflicting provision results in two-fold tax

Goods transport: conflicting provision results in two-fold tax

The conflicting provision of the Income Tax Ordinance 2001 relating to levying tax on owner of goods transport vehicle makes it legally ambiguous, resulting in two-fold tax on the sector. It is learnt here on Saturday that Waheed Shahzad Butt, a leading L
Published 29 Jan, 2012 12:00am
Goods transport: conflicting provision results in two-fold tax

Goods transport: conflicting provision results in two-fold tax

The conflicting provision of the Income Tax Ordinance 2001 relating to levying tax on owner of goods transport vehicle makes it legally ambiguous, resulting in two-fold tax on the sector. It is learnt here on Saturday that Waheed Shahzad Butt, a leading L
Published 29 Jan, 2012 12:00am
Goods transport: conflicting provision results in two-fold tax

Goods transport: conflicting provision results in two-fold tax

The conflicting provision of the Income Tax Ordinance 2001 relating to levying tax on owner of goods transport vehicle makes it legally ambiguous, resulting in two-fold tax on the sector. It is learnt here on Saturday that Waheed Shahzad Butt, a leading L
Published 29 Jan, 2012 12:00am
Chavez wants good relations with US

Chavez wants good relations with US

Venezuelan President Hugo Chavez said Friday he wants to "shake hands" with his US counterpart, Barack Obama, and have "good relations" with Washington if the two leaders are reelected this year. "Here we're going to win the elections on October 7 and Oba
Published 29 Jan, 2012 12:00am
Chavez wants good relations with US

Chavez wants good relations with US

Venezuelan President Hugo Chavez said Friday he wants to "shake hands" with his US counterpart, Barack Obama, and have "good relations" with Washington if the two leaders are reelected this year. "Here we're going to win the elections on October 7 and Oba
Published 29 Jan, 2012 12:00am
'PPIB bill' deferred for more deliberations

'PPIB bill' deferred for more deliberations

The Senate on Saturday deferred 'The Private Power and Infrastructure Board Bill, 2011' till January 31, 2012 for further deliberation. The Bill was moved by Minister for Water and Power Naveed Qamar for establishment of the Private Power and Infrastructu
Published 29 Jan, 2012 12:00am
'PPIB bill' deferred for more deliberations

'PPIB bill' deferred for more deliberations

The Senate on Saturday deferred 'The Private Power and Infrastructure Board Bill, 2011' till January 31, 2012 for further deliberation. The Bill was moved by Minister for Water and Power Naveed Qamar for establishment of the Private Power and Infrastructu
Published 29 Jan, 2012 12:00am
''PPIB bill'' deferred for more deliberations

''PPIB bill'' deferred for more deliberations

The Senate on Saturday deferred ''The Private Power and Infrastructure Board Bill, 2011'' till January 31, 2012 for further deliberation. The Bill was moved by Minister for Water and Power Naveed Qamar for establishment of the Private Power and Infrastruc
Published 29 Jan, 2012 12:00am
Top US Army general backs plan to cut 80,000 troops

Top US Army general backs plan to cut 80,000 troops

The US Army's top general on Friday endorsed plans to reduce the size of his force by 80,000 soldiers over the next six years, pledging a steady drawdown that would take care of troops and their families rather than "running our nation's Army off a cliff.
Published 29 Jan, 2012 12:00am
Top US Army general backs plan to cut 80,000 troops

Top US Army general backs plan to cut 80,000 troops

The US Army's top general on Friday endorsed plans to reduce the size of his force by 80,000 soldiers over the next six years, pledging a steady drawdown that would take care of troops and their families rather than "running our nation's Army off a cliff.
Published 29 Jan, 2012 12:00am
Jamaat-i-Islami favours new province in south Punjab

Jamaat-i-Islami favours new province in south Punjab

Jamaat-i-Islami Secretary General Liaqat Baloch on Saturday urged all political parties to play a role for creating a south Punjab province to save the region from further exploitation. Talking to journalists here, he said his party favoured small adminis
Published 29 Jan, 2012 12:00am
Government urged to review economic policies

Government urged to review economic policies

President Lahore Chamber of Commerce and Industry (LCCI) Irfan Qaiser Sheikh has urged the government to review all economic policies to achieve better results in 2012. Talking to Business Recorder on Saturday he said that the government should und
Published 29 Jan, 2012 12:00am
Punjab likely to miss gram production target

Punjab likely to miss gram production target

The Punjab province likely to miss gram production target of 539,000 tons, set for this year, due to insignificant rains in Barani areas, during the months of December and January. Director General Agriculture Extension Services Punjab, Dr Anjum Ali told
Published 29 Jan, 2012 12:00am
Power situation still dismal

Power situation still dismal

Power situation is still dismal despite improvement in fuel supply to thermal units in the system. Sources said Pepco is facing a shortage of about 5,000MW, causing forced closures after every hour in the urban areas. The situation is quite problematic fo
Published 29 Jan, 2012 12:00am
Petitioner seeks grant of a stay: LHC moved against Senate polls

Petitioner seeks grant of a stay: LHC moved against Senate polls

A member of Lahore High Court Bar Association has moved the Lahore High Court, seeking the grant of a stay on the holding of upcoming Senate elections. Feroze Shah Gilani contended that the elections of national and all provincial assemblies were not genu
Published 29 Jan, 2012 12:00am
NBP tops in agriculture credit disbursement

NBP tops in agriculture credit disbursement

National Bank of Pakistan (NBP) tops in agriculture credit disbursement of Rs 42.4 billion among nearly 252,000 farmers, against a target of Rs 41 billion. Farooq Hasan, NBP Senior Vice President, expressed these views while addressing the media after gif
Published 29 Jan, 2012 12:00am
Three more succumb to drug reaction in Lahore

Three more succumb to drug reaction in Lahore

The reaction of suspected drugs supplied to cardiac patients from Punjab Institute of Cardiology (PIC) claimed lives of another three people including two women here on Saturday raising the death toll in Punjab to 108. Rashidaan Bibi (60), Sarwar Begum (7
Published 29 Jan, 2012 12:00am
PBC vice chairman elected

PBC vice chairman elected

Ghulam Abbas Niswana has been elected Vice Chairman Punjab Bar Council here Saturday after defeating Ms Ghazala Khan while Asif Saeed elected chairman executive committee defeating his rival Mushtaq Mohal. Elections on these two offices were held with a t
Published 29 Jan, 2012 12:00am
Karachi to Premnagar Dry port: Railways restores freight train service

Karachi to Premnagar Dry port: Railways restores freight train service

Pakistan Railways (PR) administration has restored freight train service between Karachi seaports to Premnagar Dry port Lahore for container service after the span of six months suspension. The sources in the Railway Headquarter told Business Recorder
Published 29 Jan, 2012 12:00am
Energy crisis to be resolved on top priority basis: Firdous

Energy crisis to be resolved on top priority basis: Firdous

Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan on Saturday evening said that government is committed to resolve energy crisis and gas management on priority basis. Several drastic steps had already been taken in this regard, she s
Published 29 Jan, 2012 12:00am
Unfair fringe benefits: medical staff continues protest

Unfair fringe benefits: medical staff continues protest

Medical and para medical staff of Social Security Hospitals being run under the Labour welfare department continue their protest on the 8th consecutive day on Saturday. They were protesting against the unfair fringe benefits and demanding uniform faciliti
Published 29 Jan, 2012 12:00am
Balochistan Assembly grills SSGC, Wapda

Balochistan Assembly grills SSGC, Wapda

The lawmakers in the session of the Balochistan Assembly on Saturday passed a resolution seeking resolution of issue of gas loadshedding and low gas pressure besides fulfilment of the federal government's promise to provide natural gas to all the district
Published 29 Jan, 2012 12:00am
Tourism Vision calls for making Swat free of loadshedding

Tourism Vision calls for making Swat free of loadshedding

Tourism Vision Khyber Pakhtunkhwa, has called for declaring Swat as load shedding-free and engaging of private sector for development of small hydel units at important tourist sites. The recommendations have been made in Vision Document for Tourism Sector
Published 29 Jan, 2012 12:00am
PCSIR signs MoU with DST

PCSIR signs MoU with DST

Pakistan Council for Scientific and Industrial Research (PCSIR) Laboratories Complex Peshawar on Saturday signed a memorandum of understanding (MoU) with Directorate of Science and Technology (DST) Khyber Pakhtunkhwa for collaborative activities to promot
Published 29 Jan, 2012 12:00am
Three shot dead over land dispute

Three shot dead over land dispute

Three persons including a woman were shot dead over a land dispute at village Badabair, police said on Saturday. According to police, accused Badam Sher and his accomplices opened indiscriminate firing on their rivals, killing three persons identified as
Published 29 Jan, 2012 12:00am
Establishment of medical college in Fata demanded

Establishment of medical college in Fata demanded

Tribal elders from South Waziristan have demanded government to establish a medical college in Federally Administrative Tribal Areas and called for taking action against those who were creating hurdles in the approved plan. Addressing a press conference,
Published 29 Jan, 2012 12:00am
20th Amendment bill: SBC observes strike

20th Amendment bill: SBC observes strike

The shutter-down and wheel-jam strike called by Sindh Bachayo Committee was observed in certain areas of the city on Saturday while, central and old city areas remained open where public transport ran as usual. SBC, an alliance of Sindhi nationalist parti
Published 29 Jan, 2012 12:00am
Need to recognise rights of disabled people stressed

Need to recognise rights of disabled people stressed

With an estimated 10 percent population with different kinds of disabilities, it is imperative to recognise their rights of employment, education and healthcare in Pakistan. Almost all disabled people in Pakistan are completely dependent on their families
Published 29 Jan, 2012 12:00am
Sindh University teachers urged to resume teaching

Sindh University teachers urged to resume teaching

Member National Assembly of Pakistan Peoples Party from Jamshoro District, Nawab Abdul Ghani Talpur has appealed teachers and employees of University of Sindh to end their protest campaign, start imparting knowledge and protect future of 15,000 students o
Published 29 Jan, 2012 12:00am
Dacoit beaten to death in New Karachi Industrial Area

Dacoit beaten to death in New Karachi Industrial Area

An alleged robber was beaten to death by an angry mob while another accomplice sustained severe injuries in the New Karachi Industrial Area on Saturday. According to police, the incident took place at Sector 5-E near Nala Stop in New Karachi where at leas
Published 29 Jan, 2012 12:00am
IHK police admit presence of unmarked graves

IHK police admit presence of unmarked graves

The police authorities in Indian occupied Kashmir have admitted the presence of over four hundred unmarked graves in Baramulla district. The police said that they had completed the counting of unnamed graves in Baramulla finding 421 such graves in the dis
Published 29 Jan, 2012 12:00am
UHS declares BDS results

UHS declares BDS results

University of Health Sciences has announced the results of Third Professional BDS annual examination. A total of 459 candidates from as many as 10 affiliated dental colleges appeared in the examination out of which 304 passed and 153 failed. Result of two
Published 29 Jan, 2012 12:00am
Doctor, MQM activist gunned down

Doctor, MQM activist gunned down

At least two persons including a doctor and an activist of Muttahida Qaumi Movement (MQM) fell prey to targeted killings in separate incidents in various parts of the metropolis, here on Saturday. According to police, 60-year-old Dr Jaffar Mohsin Rizvi so
Published 29 Jan, 2012 12:00am
ICON 2012 symposium: Over 120 experts to address health issues

ICON 2012 symposium: Over 120 experts to address health issues

More than 120 experts from across Pakistan will be conducting workshops, seminars, and practical sessions at the ICON 2012, a three-day health symposium being hosted by The Indus Hospital in an effort to address critical issues and break barriers in healt
Published 29 Jan, 2012 12:00am
Assisting SME sector

Assisting SME sector

To highlight the impact of Small and Medium Enterprises (SMEs) on the economy and the urgent need to remove impediments in the rapid progress of this sector, are the favourite topics of most of the policymakers of the country. Presiding over the 4th meeti
Published 29 Jan, 2012 12:00am
Karachi killings

Karachi killings

Raging sectarian hatreds claimed the lives of three Karachi lawyers from the same family - a father, a son, and a nephew - on Wednesday, brining the number of such killings in the first month of the new year to six. Just a day earlier, two lawyers who ser
Published 29 Jan, 2012 12:00am
State of economy

State of economy

Policymakers were hopeful that the country would put up a better economic performance in FY12 after last year, which was a difficult one for the economy, not only due to the devastating floods that hit the country early in the fiscal year, but also due to
Published 29 Jan, 2012 12:00am
Egypt's tourism sector struggles to revive fortunes

Egypt's tourism sector struggles to revive fortunes

The beaches are almost empty and taxi drivers jockey for customers in Egypt's Red Sea resort of Hurghada, once a bustling city, now desperately struggling to revive its tourism sector a year after the country's political revolution. "No tourists simply me
Published 29 Jan, 2012 12:00am
A nation in making

A nation in making

Consciousness is irreversible. The revolutionary slogans by those that are against the people's democracy, just for the reason that the democratic struggle of the people of Pakistan has given them a high level of consciousness. The anti-people's democracy
Published 29 Jan, 2012 12:00am
'Dodos' at Davos!

'Dodos' at Davos!

The rest of the world is represented at the ongoing World Economic Forum's annual summit at Davos, by astute economists, outstanding world leaders, professionals par excellence and individuals with impeccable credentials, while my country, Pakistan has se
Published 29 Jan, 2012 12:00am
Five injured in grenade attack

Five injured in grenade attack

At least five persons injured on Saturday in a hand grenade attack at hardware shop located in the limits of Super Market police station. According to police, at around 11:15am, two unidentified man hurled hand grenade at Green Hardware shop situated near
Published 29 Jan, 2012 12:00am
French national Award conferred on Sanofi GM

French national Award conferred on Sanofi GM

The newly appointed Ambassador of France to Pakistan, H. E. Philippe Thiébaua visited the Karachi Head Office of Sanofi Pakistan, where he conferred the prestigious French National Award "Chevalier de I'Ordre national du Mérite" (Knight of the National Or
Published 29 Jan, 2012 12:00am
Shujaat talks to chief minister Sindh on phone

Shujaat talks to chief minister Sindh on phone

President of PML(Q) Choudhry Shujaat Hussain on Saturday talked to Chief Minister Sindh Syed Qaim Ali Shah on telephone. A press release from CM House said that he deplored the statement of Sindh Minister Shaharyar Khan Mahar against Chief Minister Sindh
Published 29 Jan, 2012 12:00am
Cool, dry weather likely

Cool, dry weather likely

The met office has forecast cold and dry weather in most parts of the country in the next 24 hours. "Continental air is prevailing over most parts of the country. A fresh westerly trough is likely to affect western parts of Balochistan from Sunday night,"
Published 29 Jan, 2012 12:00am
Government urged to form independent central DRA

Government urged to form independent central DRA

The Pharma Bureau urges the government to immediately form an independent central Drug Regulatory Authority (DRA) adopting similar refined model employed in other nations to oversee this very critical industry of Pakistan.
Published 29 Jan, 2012 12:00am
Acumen Fund community gathering on February 4

Acumen Fund community gathering on February 4

The Acumen Fund Pakistan community gathering will be held at a local hotel on February 4. This event is being held to bring the community of investees, partners and supporters in Pakistan together to celebrate and reflect on the work of social entrepreneu
Published 29 Jan, 2012 12:00am
Acumen Fund community gathering on February 4

Acumen Fund community gathering on February 4

The Acumen Fund Pakistan community gathering will be held at a local hotel on February 4. This event is being held to bring the community of investees, partners and supporters in Pakistan together to celebrate and reflect on the work of social entrepreneu
Published 29 Jan, 2012 12:00am
Haji workshop today

Haji workshop today

A one-day Haji workshop will be held at a local hotel on January 29. Federal Minister for Religious Affairs Khursheed Ahmed Shah will be the chief guest. The workshop is being organised by the Ministry of Religious Affairs in association with Haji Organis
Published 29 Jan, 2012 12:00am
Weapons seized

Weapons seized

Sindh police on Saturday claimed to have recovered huge cache of weapons from KMC ground located near Mewa Shah Graveyard in the limits of Pak Colony police station. According to SSP Asif Ijaz, the police party on the information of detained persons condu
Published 29 Jan, 2012 12:00am
PHMA concerned over sagging textile exports

PHMA concerned over sagging textile exports

Central Chairman of Pakistan Hosiery Manufacturers and Exporters Association, Rana Muhammad Mushtaq Khan on Saturday expressed serious concern over the declining trend in textile exports, urging the government to implement Textile Policy forthwith. Talkin
Published 29 Jan, 2012 12:00am
Agrarian economy growth: Khuhro for fair pricing mechanism

Agrarian economy growth: Khuhro for fair pricing mechanism

Speaker Sindh Assembly, Nisar Ahmed Khuhro on Saturday stressed the need for fair pricing mechanism for sustainable growth of agrarian economy. He was speaking at an inauguration of 2nd edition of Livestock, Dairy, Fisheries, Poultry and Agriculture (LDFA
Published 29 Jan, 2012 12:00am
Hunar Foundation awards certificates to 96 students

Hunar Foundation awards certificates to 96 students

A graduation ceremony was held at The Hunar Foundation's first campus, DMS Technical Institute here on Saturday. Sultan Chawla, Chairman of Delhi Mercantile Society and former president of the Federation of Pakistan Chambers of Commerce & Industry was the
Published 29 Jan, 2012 12:00am
Need to resolve GLOF issue stressed

Need to resolve GLOF issue stressed

Khyber Pakhtunkhwa Minister for Environment, Wajid Ali Khan said on Saturday that the Ministry of Disaster Management with the help of UNDP should try its best to resolve the issue of Glacial Lake Outburst Floods (GLOF) at the earliest. The minister was a
Published 29 Jan, 2012 12:00am
IN SHORT: India cuts cotton output forecast to 34.5 million bales

IN SHORT: India cuts cotton output forecast to 34.5 million bales

India's cotton production in 2011/12 season that began in October is seen at 34.5 million bales, down from the earlier forecast of 35.6 million bales, Textile Commissioner AB Joshi, said on Tuesday. "There have been yield losses in Maharashtra and Andhra
Published 29 Jan, 2012 12:00am
IN SHORT: Italy raises 2011 wheat output estimate

IN SHORT: Italy raises 2011 wheat output estimate

Italy, a major grain importer in Europe, produced more soft and durum wheat last year than earlier estimated thanks to larger than expected planted areas, according to revised data from Italy's statistic agency ISTAT. ISTAT has raised its estimate of Ital
Published 29 Jan, 2012 12:00am
IN SHORT: Ukraine may cut sugar beet area in 2012

IN SHORT: Ukraine may cut sugar beet area in 2012

Ukraine may reduce its area sown for sugar beet in 2012 by 8-16 percent due to white beet sugar overproduction in 2011, Kommersant-Ukraine daily quoted an industry official as saying on Monday. The head of Ukrainian sugar producers' union Ukrtsukor Mykola
Published 29 Jan, 2012 12:00am
IN SHORT: Mexico drought to hit sugar

IN SHORT: Mexico drought to hit sugar

Mexico could lose between 150,000 and 200,000 tonnes of sugar after a severe drought affected the cane crop across the country, the national sugar cane union said on Wednesday. Those losses would drop the 2011/12 harvest estimate down to as low as 5.1 mil
Published 29 Jan, 2012 12:00am
IN SHORT: Colombian exports of fine beans flat

IN SHORT: Colombian exports of fine beans flat

Colombian exports of specialty coffee beans are expected to remain flat in 2012 due to lower national production and crimped demand in Europe, experts and officials at the coffee growers federation said. Colombia - the world's top producer of high-quality
Published 29 Jan, 2012 12:00am
Commodities mostly rise on weak dollar

Commodities mostly rise on weak dollar

Commodity prices mainly rose this week on the struggling dollar after the US Federal Reserve vowed to keep interest rates near zero for at least two years. "Improved perceptions of the macroeconomic environment, as the Fed pushed back its guidance for the
Published 29 Jan, 2012 12:00am
Tanzania coffee prices rise on higher demand

Tanzania coffee prices rise on higher demand

Tanzania's coffee prices rose at last week's auction, driven by demand from exporters for high-quality beans, the regulator Tanzania Coffee Board (TCB) said on Tuesday. The number of bags offered for sale at the auction more than doubled from the previous
Published 29 Jan, 2012 12:00am
Malaysia raises sugar subsidies ahead of polls

Malaysia raises sugar subsidies ahead of polls

Malaysia more than doubled subsidies on sugar at the start of the year, a government source said on Thursday, a signal that Prime Minister Najib Razak is likely to hold off on economic reforms to appease voters in an election year. The source, who decline
Published 29 Jan, 2012 12:00am
UK growers on track to double sugar yield growth

UK growers on track to double sugar yield growth

UK growers said they are on course to meet ambitious industry targets to double annual growth in sugar beet yields to 4 percent for 2012 to 2015 as they prepare to become more competitive by the time EU sugar quotas end. "I think we're on track," Colin Wa
Published 29 Jan, 2012 12:00am
Global sugar surplus to halve next season

Global sugar surplus to halve next season

The global sugar surplus is forecast to more than halve into next season, and prices look set to ease by the end of the year, according to a Reuters poll of 17 analysts issued on Monday. The key questions for the global sugar trade in 2012 will be whether
Published 29 Jan, 2012 12:00am
Philippines sees rice output up

Philippines sees rice output up

The Philippines' rice output is forecast to rise 2.7 percent in the first half of this year on expanded acreage and improved yields, a government report said on Wednesday, suggesting the country would not be importing large amounts this year. Unmilled ric
Published 29 Jan, 2012 12:00am
Indian rice prices rise; Thai-Vietnam trade thin

Indian rice prices rise; Thai-Vietnam trade thin

Indian rice prices rose further, fuelled by demand after the country allowed the sale of more than 2 million tonnes of the grain, while trading in the world's top two exporters, Thailand and Vietnam, was sluggish, with dealers still on holiday, traders sa
Published 29 Jan, 2012 12:00am
Cocoa butter ratios edge up in Asia

Cocoa butter ratios edge up in Asia

Cocoa butter ratios ticked higher in Asia this week as chocolate makers returned to the physical market after the Lunar New Year holidays, while expectations of rising demand ahead of Easter offered additional support. Cocoa butter, a key chocolate ingred
Published 29 Jan, 2012 12:00am
Sanctions to hit EU buyback firms: Iran oil chief

Sanctions to hit EU buyback firms: Iran oil chief

European companies owed oil by Iran could lose out if Tehran imposes a ban on crude exports to the European Union next week, the head of Iran's state oil company said on Saturday. Iran's parliament is due to debate a bill on Sunday that would cut off oil
Published 29 Jan, 2012 12:00am
15 dead, 40 lost from boat off Libya

15 dead, 40 lost from boat off Libya

At least 15 Somali migrants were killed and 40 left missing after their boat capsized off the coast of Libya this week, the Somali ambassador to Tripoli said Saturday. "Fifteen bodies, including one child and 12 women, were recovered off the coast of Misr
Published 29 Jan, 2012 12:00am
Public workers stage mass protest in Barcelona

Public workers stage mass protest in Barcelona

Thousands of police, teachers and hospital staff staged a mass protest march in Barcelona on Saturday in growing anger at spending cuts hitting key services in Spain's Catalonia region. "No to the Cuts," read a banner at the head of the crowd, which inclu
Published 29 Jan, 2012 12:00am
Thousands protest conservative Islam in Tunisia

Thousands protest conservative Islam in Tunisia

Thousands of Tunisians angered by the increasing prominence of ultra-conservative Islamists in a country only recently freed from dictatorial rule took to the streets in protest Saturday.
Published 29 Jan, 2012 12:00am
Five dead in poll violence in India

Five dead in poll violence in India

Five people were killed in election related violence in India's isolated, north-eastern state of Manipur, police said on Saturday. Among those who died were a woman, a security guard and three election duty staff, when suspected tribal rebels attacked a p
Published 29 Jan, 2012 12:00am
24 killed in Peru fire

24 killed in Peru fire

A fire swept through a private rehabilitation centre for addicts in a poor part of Peru's capital on Saturday, killing 24 people and injuring 10 others, police said. The blaze broke out around 9 am local time at the "God is Love" centre for drug and alcoh
Published 29 Jan, 2012 12:00am
Protest against greater US role in Philippines

Protest against greater US role in Philippines

Philippine activists picketed the US embassy on Saturday and burned a cardboard American flag and mock stealth bomber, vowing to launch a campaign opposing a plan to allow more US troops in the country. About 50 members of the leftist New Nationalist Alli
Published 29 Jan, 2012 12:00am
Thousands back Putin in 'workers' protest

Thousands back Putin in 'workers' protest

Around 15,000 people Saturday thronged a city in the Russian Urals in a rally organised by labour groups to show mass working-class support for Vladimir Putin's bid for a new Kremlin term, police said. The rally in Yekaterinburg appeared to be a move by t
Published 29 Jan, 2012 12:00am
Chad sacks two ministers over China refinery row

Chad sacks two ministers over China refinery row

Chad's President Idriss Deby sacked two senior ministers after a joint-venture refinery deal with China National Petroleum went sour, according to a presidential decree announced over state radio late on Friday. The oil-producer nation last week said it s
Published 29 Jan, 2012 12:00am
Fading Gingrich falls behind in polls, hits Romney in ad

Fading Gingrich falls behind in polls, hits Romney in ad

Newt Gingrich struggled to regain momentum in the Republican presidential race on Friday as two new polls showed him falling behind rival Mitt Romney, who was seen as the winner of the final debate before the Florida primary.
Published 29 Jan, 2012 12:00am
Obama to senators Change the way you do business

Obama to senators Change the way you do business

President Barack Obama is pressing his case for changes in how the Senate does business, hoping to ease the partisan gridlock, and he wants to bar lawmakers from profiting from their service.
Published 29 Jan, 2012 12:00am
Exiting watchdog sees flaws in SEC's rulewriting

Exiting watchdog sees flaws in SEC's rulewriting

In his final act before departing the US Securities and Exchange Commission on Friday, the agency's inspector general, David Kotz, criticised how the agency analyses the economic impact of some of its Dodd-Frank rules. Kotz's criticism, contained in a rep
Published 29 Jan, 2012 12:00am
India's one-year OIS ends over two-month high

India's one-year OIS ends over two-month high

India's one-year overnight indexed swap (OIS) rate settled around its highest level in over two months on Friday because of tight liquidity and lack of clarity over the timing of an interest rate cut by the Reserve Bank of India. The one-year swap rate cl
Published 29 Jan, 2012 12:00am
India's one-year OIS ends over two-month high

India's one-year OIS ends over two-month high

India's one-year overnight indexed swap (OIS) rate settled around its highest level in over two months on Friday because of tight liquidity and lack of clarity over the timing of an interest rate cut by the Reserve Bank of India. The one-year swap rate cl
Published 29 Jan, 2012 12:00am
Canadian dollar closes stronger

Canadian dollar closes stronger

Canada's dollar firmed against the greenback on Friday and was up more than 1 percent for the week on the back of the US Federal Reserve's bold moves to keep the economic recovery on track and hopes of a Greek debt swap deal.
Published 29 Jan, 2012 12:00am
Euro hits 6-1/2 week high versus dollar

Euro hits 6-1/2 week high versus dollar

The euro rose to a 6-1/2-week high against the dollar on Friday as optimism that Greece will avoid a messy default had investors scrambling to cover short positions, but the currencies' upside could be contained if conditions in the region remain weak. Da
Published 29 Jan, 2012 12:00am
Emerging markets, high risk draw investors

Emerging markets, high risk draw investors

Investors crowded into emerging markets equity and debt funds and US equity, bond and high-yield funds in the week ended January 25, data from EPFR Global showed on Friday, showing an increased appetite for risk. Overall, equity funds gained a net $8.62 b
Published 29 Jan, 2012 12:00am
Emerging markets, high risk draw investors

Emerging markets, high risk draw investors

Investors crowded into emerging markets equity and debt funds and US equity, bond and high-yield funds in the week ended January 25, data from EPFR Global showed on Friday, showing an increased appetite for risk. Overall, equity funds gained a net $8.62 b
Published 29 Jan, 2012 12:00am
Latin American currencies edge up

Latin American currencies edge up

Latin American currencies largely edged up against the US dollar on Friday, easing the pace of a four-week rally, as investors showed caution while Greece completes debt talks with private investors and the United States grew less than expected.
Published 29 Jan, 2012 12:00am
Weaker euro helps Spain and Italy, not Germany

Weaker euro helps Spain and Italy, not Germany

Germany is the champion of exporters, but it may not be getting as much of a boost from a newly weaker euro as advertised - indeed, there is evidence that the bigger beneficiaries could be the troubled economies on the euro zone periphery.
Published 29 Jan, 2012 12:00am
Wall Street cuts losses on late buying

Wall Street cuts losses on late buying

US stocks trimmed losses to end little changed on Friday, as investors saw dips in the market as an opportunity to buy into what has been a strong first month of 2012. The Dow posted its first weekly loss this year, hurt Friday as Chevron Corp announced e
Published 29 Jan, 2012 12:00am
ADR report: European shares fall, solar firms rally

ADR report: European shares fall, solar firms rally

US-listed shares of foreign companies edged lower on Friday as a weaker-than-expected read on economic expansion undercut optimism about the pace of the recovery. Gross domestic product expanded in the fourth quarter but below forecasts as a strong rebuil
Published 29 Jan, 2012 12:00am
Sri Lankan stocks extend rally on banks, hotels

Sri Lankan stocks extend rally on banks, hotels

Sri Lanka's share market extended its rally with a more than 2 percent gain on Friday as investors snapped up risky assets after market heavyweight and bellwether John Keells Holdings CM posted strong earnings. The main share index rose 2.38 percent or 13
Published 29 Jan, 2012 12:00am
Latam stocks dip, further gains eyed

Latam stocks dip, further gains eyed

Latin American stocks edged down on Friday, hurt by weaker-than-expected US growth data, and analysts said stocks could be vulnerable to some profit-taking after a big rally this month. The MSCI Latin American stock index fell 0.57 percent but the index s
Published 29 Jan, 2012 12:00am
JGBs extend gains

JGBs extend gains

Japanese government bond prices rose on Friday, extending their rally after the US Federal Reserve's vow to keep interest rates very low for about three years, with the 10-year yield edging closer to a 14-month low hit last week. The Fed's policy has spur
Published 29 Jan, 2012 12:00am
JGBs extend gains

JGBs extend gains

Japanese government bond prices rose on Friday, extending their rally after the US Federal Reserve's vow to keep interest rates very low for about three years, with the 10-year yield edging closer to a 14-month low hit last week. The Fed's policy has spur
Published 29 Jan, 2012 12:00am
Turkish assets inch up, liquidity eases

Turkish assets inch up, liquidity eases

The Turkish lira edged up on Friday as local companies chose to delay their dollar buying and bond yields declined on continued demand following the US Federal Reserve rate outlook and after the Turkish central bank provided more liquidity to the markets.
Published 29 Jan, 2012 12:00am
TSX little changed, but gains for sixth week in row

TSX little changed, but gains for sixth week in row

Canada's main stock index ended little changed on Friday, supported by firmness in materials and technology issues, but weaker than expected US economic data kept it under pressure through the day. The United States, the world's biggest economy, grew at a
Published 29 Jan, 2012 12:00am
Indian corporate bond little changed

Indian corporate bond little changed

Indian corporate bond yields ended little changed on Friday, as investors preferred to stay on the sidelines, with liquidity in the system remaining tight. The five-year corporate bond yield ended 1 basis point lower at 9.44 percent and the 10-year bond c
Published 29 Jan, 2012 12:00am
Indian corporate bond little changed

Indian corporate bond little changed

Indian corporate bond yields ended little changed on Friday, as investors preferred to stay on the sidelines, with liquidity in the system remaining tight. The five-year corporate bond yield ended 1 basis point lower at 9.44 percent and the 10-year bond c
Published 29 Jan, 2012 12:00am
In Facebook IPO, bankers seek prestige over fees

In Facebook IPO, bankers seek prestige over fees

Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business. The world's largest online social network is expected to tap public markets for $10 billion in the comi
Published 29 Jan, 2012 12:00am
US bond prices gain on Europe worries

US bond prices gain on Europe worries

US Treasury debt prices rose for a third day on Friday with support from worries over Europe's debt crisis and the Federal Reserve's pledge this week to keep interest rates near zero through late 2014. Treasuries also got a lift from Friday's data on gros
Published 29 Jan, 2012 12:00am
US bond prices gain on Europe worries

US bond prices gain on Europe worries

US Treasury debt prices rose for a third day on Friday with support from worries over Europe's debt crisis and the Federal Reserve's pledge this week to keep interest rates near zero through late 2014. Treasuries also got a lift from Friday's data on gros
Published 29 Jan, 2012 12:00am
Bulgaria plans Eurobond

Bulgaria plans Eurobond

Bulgaria's centre-right government will push ahead with privatising state assets this year and plans to issue a Eurobond worth up to 1 billion euros in the second quarter, its finance minister said on Thursday. Simeon Djankov, in an interview with Reuters
Published 29 Jan, 2012 12:00am
Bulgaria plans Eurobond

Bulgaria plans Eurobond

Bulgaria's centre-right government will push ahead with privatising state assets this year and plans to issue a Eurobond worth up to 1 billion euros in the second quarter, its finance minister said on Thursday. Simeon Djankov, in an interview with Reuters
Published 29 Jan, 2012 12:00am
Pakistan humiliate England to take Test series

Pakistan humiliate England to take Test series

Left-arm spinner Abdul Rehman took a career best 6-25 to help Pakistan humble England by 72 runs in the second Test here on Saturday, to give them an unassailable 2-0 lead in the three-match series. This is England's first series defeat after being unbeat
Published 29 Jan, 2012 12:00am
Pakistan humiliate England to take Test series

Pakistan humiliate England to take Test series

Left-arm spinner Abdul Rehman took a career best 6-25 to help Pakistan humble England by 72 runs in the second Test here on Saturday, to give them an unassailable 2-0 lead in the three-match series. This is England's first series defeat after being unbeat
Published 29 Jan, 2012 12:00am
Australia seal India series whitewash

Australia seal India series whitewash

A resurgent Australia wrapped up an emphatic 4-0 series humiliation of India on Saturday after sealing a 298-run win in the fourth and final Test at the Adelaide Oval. The end of another one-sided contest was swift with the Australians snapping up the fin
Published 29 Jan, 2012 12:00am
Training for Hong Kong cricket team begins

Training for Hong Kong cricket team begins

A six-day specialised coaching-cum-training programme for Hong Kong, national cricket team elite members will begin at National Cricket Academy (NCA) from Sunday (today). The programme has been designed on special request of the Hong Kong National Team Of
Published 29 Jan, 2012 12:00am
Gabon, Tunisia through; Morocco, Niger head home

Gabon, Tunisia through; Morocco, Niger head home

Gabon and Tunisia became the latest teams to seal their Africa Cup of Nations quarter-final places on Friday as Morocco and newcomers Niger were knocked out. Day seven at the 2012 Nations Cup delivered up a Group C double bill in Libreville. The first leg
Published 29 Jan, 2012 12:00am
Paes, Stepanek halt doubles record bid

Paes, Stepanek halt doubles record bid

Leander Paes and Radek Stepanek denied the Bryan brothers a record 12th men's grand slam doubles title on Saturday as they beat the American top seeds in straight sets in the Australian Open final. The 7-6 (7/1), 6-2 victory was the first for India's Paes
Published 29 Jan, 2012 12:00am
New Zealand rout Zimbabwe by record margin

New Zealand rout Zimbabwe by record margin

New Zealand posted their biggest winning Test margin when they demolished Zimbabwe by an innings and 301 runs on the third day of their one-off Test at Napier's McLean Park Saturday. After starting the day at 392-5, New Zealand added 103 in 18 overs, givi
Published 29 Jan, 2012 12:00am
Imperious Azarenka crowned women's queen

Imperious Azarenka crowned women's queen

Belarus's Victoria Azarenka swept imperiously to her first grand slam title and the world number one ranking Saturday when she demolished Maria Sharapova in the Australian Open final. The 22-year-old, playing her first major title match, made light of the
Published 29 Jan, 2012 12:00am
Chief minister Punjab congratulates team

Chief minister Punjab congratulates team

Punjab Chief Minister, Muhammad Shahbaz Sharif here Saturday has congratulated national cricket team of Pakistan for winning test match and series from England. In his felicitation message, the Chief Minister termed the success an outcome of the excellent
Published 29 Jan, 2012 12:00am
UBL win State Bank Governor's cricket tournament

UBL win State Bank Governor's cricket tournament

United Bank Limited (UBL) won the 10th State Bank Governor's InterBank Cricket Tournament by defeating Habib Bank Limited (HBL) at SBP Sports Complex, North Nazimabad, Karachi on Saturday. Bating first, UBL scored 154 for 5. Hasan Mehmood (44), Tariq Iqba
Published 29 Jan, 2012 12:00am
Liverpool down United, Chelsea through

Liverpool down United, Chelsea through

Substitute Dirk Kuyt struck two minutes from time to give hosts Liverpool a 2-1 FA Cup fourth-round victory over Manchester United on Saturday with visiting captain Patrice Evra being booed throughout and making a mistake for the winner. United left back
Published 29 Jan, 2012 12:00am
Obama administration bolsters homeowner lifeline

Obama administration bolsters homeowner lifeline

The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention programme, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt. The administration said it would extend the
Published 29 Jan, 2012 12:00am
US closes four banks, bringing total to 7 in 2012

US closes four banks, bringing total to 7 in 2012

US regulators closed four banks on Friday, bringing the total number of foreclosures this year to seven. The Federal Deposit Insurance Corporation said Tennessee Commerce Bank, of Franklin, Tennessee, was closed on Friday. The bank's sole branch will reop
Published 29 Jan, 2012 12:00am
Exxon to sell large part of Tonen stake for about $3.9 billion

Exxon to sell large part of Tonen stake for about $3.9 billion

Exxon Mobil plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sourc
Published 29 Jan, 2012 12:00am
US cattle herd at 60-year low, beef prices to bite

US cattle herd at 60-year low, beef prices to bite

The US cattle herd has shrunk for the fifth straight year to a 60-year low, a government report showed on Friday, as a devastating drought and record high feed costs hit production, which will likely mean even higher beef prices for consumers. One of the
Published 29 Jan, 2012 12:00am
Goldman, Berkshire names surface in Gupta case

Goldman, Berkshire names surface in Gupta case

The names of a Goldman Sachs board member and a top executive of Berkshire Hathaway surfaced on Friday as potential witnesses in the insider trading trial of Rajat Gupta, a former director of Goldman, Procter & Gamble and other companies.
Published 29 Jan, 2012 12:00am
US SEC taps new interim inspector general

US SEC taps new interim inspector general

The US Securities and Exchange Commission has appointed Deputy Inspector General Noelle Maloney as interim inspector general to temporarily replace David Kotz, who is leaving the SEC for a job with a private investigative firm. Maloney will head the inspe
Published 29 Jan, 2012 12:00am
Panel orders Citi to pay $950,000 for muni fund losses

Panel orders Citi to pay $950,000 for muni fund losses

Citigroup must pay a total of $950,000 to an investor and two trustees who lost money in a series of municipal bond funds that plunged in value between 2007 and 2008, a securities arbitration panel has ruled. The ruling on Thursday by a Financial Industry
Published 29 Jan, 2012 12:00am
Panel orders Citi to pay $950,000 for muni fund losses

Panel orders Citi to pay $950,000 for muni fund losses

Citigroup must pay a total of $950,000 to an investor and two trustees who lost money in a series of municipal bond funds that plunged in value between 2007 and 2008, a securities arbitration panel has ruled. The ruling on Thursday by a Financial Industry
Published 29 Jan, 2012 12:00am
Citigroup cuts investment bank bonuses by 30 percent

Citigroup cuts investment bank bonuses by 30 percent

Citigroup has cut bonuses for its investment banking division by about 30 percent on average, Bloomberg said, citing a person briefed on the matter. Some businesses within the securities and banking unit had bonuses reduced by as much as 70 percent, Bloom
Published 29 Jan, 2012 12:00am
RBS chairman waives $2.2 million bonus after Hester row

RBS chairman waives $2.2 million bonus after Hester row

Royal Bank of Scotland's Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive. Anger over ba
Published 29 Jan, 2012 12:00am
S&P issues negative outlook for three brokerage firms

S&P issues negative outlook for three brokerage firms

Standard & Poor's took negative ratings actions on three midsize brokerage firms on Friday, saying the European financial crisis could hurt their profitability for a prolonged period of time. S&P said it is monitoring the credit rating of GFI Group Inc, a
Published 29 Jan, 2012 12:00am
Goldman executives get access to restricted stock

Goldman executives get access to restricted stock

Top Goldman Sachs Group Inc executives can sell previously restricted stock awards that are now worth $47.7 million, according to regulatory filings. Chief Executive Lloyd Blankfein, Chief Financial Officer David Viniar, Chief Operating Officer Gary Cohn
Published 29 Jan, 2012 12:00am
Greece, creditors laboriously piece together debt deal

Greece, creditors laboriously piece together debt deal

Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default. After weeks of muddling through round after round of inconclusive tal
Published 29 Jan, 2012 12:00am
EU energy policy may bring 500,000 jobs

EU energy policy may bring 500,000 jobs

The European Union may pass a triple whammy environment policy in the first half of this year that would bring a rapid jobs boost, cut energy bills and improve the environment by one simple measure: keeping Europe's buildings in good repair. Climate Commi
Published 29 Jan, 2012 12:00am
Soyabean export premiums firm

Soyabean export premiums firm

Soyabean export premiums at the US Gulf Coast were steady to firm on Friday, supported by tight supplies in the CIF river market and expectations for renewed demand from China next week, traders said. CIF soyabean basis remains inverted as supplies were d
Published 29 Jan, 2012 12:00am
Indonesia's first quarter crude palm oil output seen up

Indonesia's first quarter crude palm oil output seen up

Crude palm oil (CPO) output in Indonesia, the world's top producer of the vegetable oil, is seen rising 8 percent from a year ago to 4.5 million tonnes in the first quarter, an industry group said on Thursday. Indonesia's government sees full-year output
Published 29 Jan, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 155,751 tonnes of cargo comprising 120,984 tonnes of import cargo and 34,767 tonnes of export cargo including 6,480 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 120,984
Published 29 Jan, 2012 12:00am
Argentine soya, corn harvests will be smaller this year

Argentine soya, corn harvests will be smaller this year

Argentina's soya and corn harvests will be smaller this season than in the previous crop year, the Buenos Aires Grains Exchange said on Thursday, underlining concerns that recent dry weather might crimp world food supplies. A weeks-long drought has raised
Published 29 Jan, 2012 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures eased on Friday, reflecting weaker soyabean prices on improved Argentine soya crop prospects, but finished with a second straight weekly gain. Profit-taking ahead of the weekend seen, but exporter and crusher buying noted for M
Published 29 Jan, 2012 12:00am
India forms committee to examine sugar sector decontrol

India forms committee to examine sugar sector decontrol

India, the world's top sugar consumer, has set up a committee to study deregulation of the sector and come up with recommendations as quickly as possible, a statement on the prime minister's website on Friday said. The committee will be headed by C. Ranga
Published 29 Jan, 2012 12:00am
Nominal business, changes seen on grain market

Nominal business, changes seen on grain market

Small business was seen on the wholesale grain market on Saturday as leading participants were on the sidelines due to less buying interest, dealers said. On the rice sector Irri-6 Sindh low type maintained overnight level at Rs 3000 and better type was h
Published 29 Jan, 2012 12:00am
US Midwest corn, soyabeans mostly steady

US Midwest corn, soyabeans mostly steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Friday as farmers stayed on the sidelines after selling small portions of their crops earlier this week, grain merchants said. Bids for both commodities were firm at a term
Published 29 Jan, 2012 12:00am
EU wheat prices up on world markets

EU wheat prices up on world markets

European benchmark wheat prices added to prior gains on Thursday and fended off export-punishing strength by the euro due to broad-based gains on global commodities and financial markets. Additional support came from concerns cold weather in eastern Europ
Published 29 Jan, 2012 12:00am
Ukraine's grain harvest likely to fall to 40 million tonnes this year

Ukraine's grain harvest likely to fall to 40 million tonnes this year

Ukraine is likely to reduce its grain harvest to about 40 million tonnes in 2012 from a record of 56.7 million in 2011 due to a fall in harvested area because of poor weather during winter grain sowing, analyst ProAgro said on Thursday. ProAgro said the w
Published 29 Jan, 2012 12:00am
Business volume improves a bit on cotton market'

Business volume improves a bit on cotton market'

Mills and spinners showed some interest in fresh buying on the cotton market on Saturday in process of activity, dealers said. The official spot rate was inert at Rs 5,800, they said. Prices of seedcotton in Sindh were at Rs 1900-2400 and in the Punjab at
Published 29 Jan, 2012 12:00am
Oil cake market rates

Oil cake market rates

Mixed pattern were seen on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The March vaida that had closed at 773.50 and opened with a decline of 50 paisa at Rs 773.00. The May vaida which closed at Rs 700.00 commenc
Published 29 Jan, 2012 12:00am
Asia's naphtha price highest in about two weeks

Asia's naphtha price highest in about two weeks

Asia's naphtha price and intermonth spreads were at their highest in about two weeks on Thursday. Cracks rose to an 8-1/2 month high as tighter supplies in Europe were expected to impact the East, which is structurally short of the light fuel, traders sai
Published 29 Jan, 2012 12:00am
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