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Archive - 2012-02-16
Symonds calls time on career
Cricket

Symonds calls time on career

SYDNEY: Former Australia all-rounder Andrew Symonds, whose powerful, big-hitting performances were often overshadowed by
Published 16 Feb, 2012 06:27pm
US missiles kill 13 in Waziristan
Top News

US missiles kill 13 in Waziristan

MIRANSHAH: Two US drone strikes struck militants in North Waziristan, officials said. The aircraft fired missiles hours
Published 16 Feb, 2012 04:20pm
Brazil economy ends 2011 in higher gear
Top News

Brazil economy ends 2011 in higher gear

SAO PAULO: Economic activity in Brazil rose 0.57 percent in December from November, the second increase in a row, adding
Published 16 Feb, 2012 02:41pm
Gilani for promoting Pak-India trade
Top News

Gilani for promoting Pak-India trade

ISLAMABAD : Prime Minister Syed Yousuf Raza Gilani on Thursday stressed for benefiting from the enabling environment bet
Published 16 Feb, 2012 01:12pm
S&P sees Russia growth slowing to 3.5pc
Top News

S&P sees Russia growth slowing to 3.5pc

MOSCOW: Standard and Poor's on Thursday projected Russia's economic growth to slow to about 3.5 percent this year, compa
Published 16 Feb, 2012 08:38am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Thursday until 12:35 P.M., KSE-100 Index remained positive and was at 12,381.78 with a positive change of 70
Published 16 Feb, 2012 07:32am
Spain economy shrinks 0.3pc in Q4
Top News

Spain economy shrinks 0.3pc in Q4

MADRID: The struggling Spanish economy shrank 0.3 percent in the fourth quarter of 2011, stoking concerns that a weak fi
Published 16 Feb, 2012 05:46am
FBR embarks on 2012-13 budget exercise
Top News

FBR embarks on 2012-13 budget exercise

SOHAIL SARFRAZ ISLAMABAD: The Federal Board of Revenue (FBR) has started the budget preparation exercise and issued o
Published 16 Feb, 2012 04:23am
Drone missiles kill five in Miranshah
Top News

Drone missiles kill five in Miranshah

MIRANSHAH: A US drone strike destroyed a militant compound Thursday, killing at least five fighters in northwest tribal
Published 16 Feb, 2012 04:21am
Suicide bomber kills one in Dir town
Top News

Suicide bomber kills one in Dir town

PESHAWAR: A suicide bomber targeted volunteers in a pro-government militia on Thursday, killing one person and wounding
Published 16 Feb, 2012 04:20am
Gilani insists he's innocent
Top News

Gilani insists he's innocent

ZAHEER ABBASI ISLAMABAD: Prime Min-ister Syed Yousuf Raza Gilani has insisted that he is innocent. Talking to a selec
Published 16 Feb, 2012 04:10am
LSM still positive, but just
BR Research

LSM still positive, but just

Pakistan would do well to even reach close to its targeted GDP for FY12 as the latest Large Scale Manufacturing (LSM) statistics released by
Published 16 Feb, 2012 12:00am
Tri-Pack soaring higher
BR Research

Tri-Pack soaring higher

Consolidating the stellar performance of earlier three quarters, Tri-Pack Films Limited finally closed CY11 on a high. The packaging films m
Published 16 Feb, 2012 12:00am
Punjab Assembly asks Centre to regulate drug issue

Punjab Assembly asks Centre to regulate drug issue

Punjab Assembly in its session on Wednesday unanimously passed a resolution asking the Parliament to regulate matters relating to drugs and medicines, in terms of article 144 of the Constitution.
Published 16 Feb, 2012 12:00am
LHC dismisses petition to close 'Pak Tea House'

LHC dismisses petition to close 'Pak Tea House'

The Lahore High Court on Wednesday dismissed a petition seeking directions to bar the Punjab government from reviving 'Pak Tea House'. The court while dismissing the petition, observed that Pak Tea House was a place used by city intellectuals for gatherin
Published 16 Feb, 2012 12:00am
Pakistan needs sincere leadership to solve all problems: Qazi

Pakistan needs sincere leadership to solve all problems: Qazi

Former Ameer Jamaat-e-Islami, Qazi Hussain Ahmad has said that the national reconciliation through dialogue was need of the hour as Baloch people cannot be oppressed by use of force. He said that Pakistan needs honest, sincere and patriotic leadership who
Published 16 Feb, 2012 12:00am
Lucky Cement

Lucky Cement

COMPANY INTRODUCTION: Lucky Cement Limited, a company belonging to the Yunus Brothers Group, is the largest manufacturer and exporter of cement in Pakistan. With two production facilities in the country, one at Karachi and one at Pezu in NWFP, Luck
Published 16 Feb, 2012 12:00am
Lucky Cement

Lucky Cement

COMPANY INTRODUCTION: Lucky Cement Limited, a company belonging to the Yunus Brothers Group, is the largest manufacturer and exporter of cement in Pakistan. With two production facilities in the country, one at Karachi and one at Pezu in NWFP, Luck
Published 16 Feb, 2012 12:00am
Petitioner seeks disqualification of politicians

Petitioner seeks disqualification of politicians

A petitioner on Wednesday urged Lahore High Court to disqualify politicians including Nawaz Sharif, Chaudhry Shujaat Husain, Maulana Fazl-ur-Rehman and others for passing 20th Amendment in constitution. The petitioner, Chaudhry Fakhar, contended that all
Published 16 Feb, 2012 12:00am
LSE managing director stresses need for better education on finance

LSE managing director stresses need for better education on finance

Lahore Stock Exchange Managing Director Aftab Ahmad Chaudhry has stressed the need for better financial education and access to critical resources in order to make smarter decisions. He was addressing a function in connection with Financial Literacy Progr
Published 16 Feb, 2012 12:00am
Contempt of court proceedings plea against doctors

Contempt of court proceedings plea against doctors

Judicial Activism Panel (JAP) has appealed to the Lahore High Court to initiate contempt of court proceedings against the doctors, who went on strike despite the fact that investigations were still continuing in spurious medicine case. The petitioner, JAP
Published 16 Feb, 2012 12:00am
Dar for good governance, corruption-free practices

Dar for good governance, corruption-free practices

Pakistan Muslim League-Nawaz (PML-N)) senior leader Senator Mohammad Ishaq Dar on Wednesday said the country was passing through difficult times and it was only through good governance, self-accountability and corruption-free practices that could bring th
Published 16 Feb, 2012 12:00am
Profit after tax of Rafhan Maize company increases to Rs 2.033 billion

Profit after tax of Rafhan Maize company increases to Rs 2.033 billion

The profit after tax of Rafhan Maize Products Company has increased to Rs 2.033 billion in the year ended December 31, 2011 as compared to Rs 1.837 billion earned in the corresponding period in 2010. The company's earning per share increased to Rs 220.20
Published 16 Feb, 2012 12:00am
Profit after tax of Rafhan Maize company increases to Rs 2.033 billion

Profit after tax of Rafhan Maize company increases to Rs 2.033 billion

The profit after tax of Rafhan Maize Products Company has increased to Rs 2.033 billion in the year ended December 31, 2011 as compared to Rs 1.837 billion earned in the corresponding period in 2010. The company's earning per share increased to Rs 220.20
Published 16 Feb, 2012 12:00am
Al Ghazi Tractors profit declines to Rs 1.358 billion

Al Ghazi Tractors profit declines to Rs 1.358 billion

The profit after tax of Al Ghazi Tractors Limited declined to Rs 1.358 billion in the year ended December 31, 2011 as compared to Rs 1.908 billion earned in the corresponding period in 2010. The company's earning per share reduced to Rs 31.65 in the perio
Published 16 Feb, 2012 12:00am
Al Ghazi Tractors profit declines to Rs 1.358 billion

Al Ghazi Tractors profit declines to Rs 1.358 billion

The profit after tax of Al Ghazi Tractors Limited declined to Rs 1.358 billion in the year ended December 31, 2011 as compared to Rs 1.908 billion earned in the corresponding period in 2010. The company's earning per share reduced to Rs 31.65 in the perio
Published 16 Feb, 2012 12:00am
PPP MPAs, ministers trade barbs

PPP MPAs, ministers trade barbs

A clear rift in the ranks of Pakistan People's Party (PPP) surfaced on Wednesday, as lawmakers from the ruling party in short spells emerged reproving each other during the Sindh Assembly's session. The Assembly session, which held here with Speaker Nisar
Published 16 Feb, 2012 12:00am
Fahim speaks about significance of bilateral trade

Fahim speaks about significance of bilateral trade

Federal Minister for Commerce Makhdoom Amin Fahim said that with the encouragement of bilateral trade Pakistan and India will have direct access to each other's trade markets and will save hefty amount of foreign exchange in this regard.
Published 16 Feb, 2012 12:00am
Muneer for implementation of SBP-RBI accord

Muneer for implementation of SBP-RBI accord

India-Pakistan Chamber of Commerce and Industry (IPCCI) President S M Muneer has demanded to implement the agreement between the Reserve Bank of India and the State Bank of Pakistan, which was signed in 2005 for opening of branches by two Indian commercia
Published 16 Feb, 2012 12:00am
PIDE to launch centre of excellence

PIDE to launch centre of excellence

Pakistan Institute for Development Economics (PIDE) is going to start a centre of excellence namely 'Centre for Population, Health and Social Policy (CPHSP)' with the objective of focusing holistically on health-related problems in the country. The decisi
Published 16 Feb, 2012 12:00am
Petitioner seeks new population census

Petitioner seeks new population census

An application filed in the Supreme Court Wednesday urged the apex court to order federal government to carry out an immediate population census. Former parliamentarian Marvi Memon filed the application, urging the court to take suo motu notice, saying ev
Published 16 Feb, 2012 12:00am
Agha Wasif Abbas made director finance TCP

Agha Wasif Abbas made director finance TCP

Agha Wasif Abbas, a BS-20 office of District Management Group (DMG) has assumed the charge of the office of director finance Trading Corporation of Pakistan (TCP). He is British Chevening Scholar and joined government service in 24th common 1996. He has s
Published 16 Feb, 2012 12:00am
KESC management accused of harassing workers

KESC management accused of harassing workers

Privately-owned Karachi Electric Supply Company has become a 'state within state' and exploiting workers as well as consumers like a new edition of East India Company, alleged KESC Mazdoor Ittehad leaders addressing a press conference at Karachi Press Clu
Published 16 Feb, 2012 12:00am
IFC to invest $5 million in Matco Rice Processing

IFC to invest $5 million in Matco Rice Processing

International Finance Corporation (IFC), a member of the World Bank Group, is investing in Matco Rice Processing, Pakistan's leading basmati rice exporter, to help the company expand its production capacity and increase exports, supporting trade and spurr
Published 16 Feb, 2012 12:00am
Munter's exhortation to Obama administration

Munter's exhortation to Obama administration

The United States Ambassador to Pakistan Cameron Munter while addressing the prestigious Harvard Kennedy School stated that the US needs to move from a relationship of aid to Pakistan to a partnership of trade.
Published 16 Feb, 2012 12:00am
20th Amendment: some questions

20th Amendment: some questions

By unanimously adopting the 20th Amendment Bill on Wednesday night, members of the National Assembly on both sides of the aisle were equally jovial, not because their hopes and aspirations were factored into the adopted draft, but for their leaders wanted
Published 16 Feb, 2012 12:00am
VIEWPOINT: Defiance sans moral justification

VIEWPOINT: Defiance sans moral justification

Contempt proceedings against Prime Minister Gilani in the Supreme Court show how deeply flawed is our political class' sense of right and wrong. Last Monday Gilani made his second appearance in the apex court to be charged for contempt. In line with his b
Published 16 Feb, 2012 12:00am
The art of making possible

The art of making possible

There are many disputes, conflicts and problems confronted by individuals, groups and nations. These disputes or conflicts may be local, national, regional or global. Some of these disputes are new, some are old, and the fact is that these disputes are al
Published 16 Feb, 2012 12:00am
Sarkozy enters election race but second term a tough sell

Sarkozy enters election race but second term a tough sell

It was never a question of if but when French President Nicolas Sarkozy would announce he is seeking re-election. After staving off the moment for weeks Sarkozy will confirm he wants to serve another five years in a television interview on Wednesday eveni
Published 16 Feb, 2012 12:00am
EU concessions

EU concessions

n fact, President Asif Ali Zardari in particular has been emphasising, establishing trade ties with the idea of promoting trade and taking it to new heights. The objective has always been attaining economic stability by decreasing dependence on foreign le
Published 16 Feb, 2012 12:00am
'Tax IT systems': FBR endorses IBM study

'Tax IT systems': FBR endorses IBM study

The Federal Board of Revenue has endorsed the study of the IBM team on 'Tax IT Systems and Assessments' with the plea that the tax machinery has failed to carry out the basic function of revenue mobilisation without proper usage of information technology
Published 16 Feb, 2012 12:00am
PTA seeks EoI for 1.9 & 3.5 GHz spectrum's auction

PTA seeks EoI for 1.9 & 3.5 GHz spectrum's auction

Pakistan Telecommunication Authority (PTA) has sought Expression of Interest (EoI) for auction of 1.9 GHz and 3.5 GHz frequency spectrum, official said on Wednesday. Officials stated that the government of Pakistan intended to auction 1.9 and 3.5 GHZ spec
Published 16 Feb, 2012 12:00am
Few FBR members oppose allocating 'WINs' to agents

Few FBR members oppose allocating 'WINs' to agents

A few Members of the Federal Board of Revenue have opposed the idea of FBR Member Enforcement and Accounting to allocate Withholding Identification Numbers (WINs) or unique/separate identification numbers to withholding agents of sales tax and income tax
Published 16 Feb, 2012 12:00am
We're not against Urdu-speaking people, says Shahi Syed

We're not against Urdu-speaking people, says Shahi Syed

President Awami National Party (ANP) Sindh, Shahi Ali Syed said his party fought against a terrorist organisation for establishment of peace and stoppage of bloodshed of people speaking different languages in Karachi, saying that the terrorist organisatio
Published 16 Feb, 2012 12:00am
Sweden lauds Pakistan's role towards Afghan refugees

Sweden lauds Pakistan's role towards Afghan refugees

Lars-Hjalmar Wide, Ambassador of Sweden in Pakistan has said that role of Pakistan for housing millions of refugees after the Afghan-Soviet War have been impressive. Swedish government, being the fifth donor of UNHCR fully supports repatriation of Afghan
Published 16 Feb, 2012 12:00am
Pakistani at Guantanamo charged in terror attacks

Pakistani at Guantanamo charged in terror attacks

A Pakistani held at Guantanamo Bay since 2006 has been charged with assisting with a number of al Qaeda terror plots under the supervision of September 11 mastermind Khalid Sheikh Mohammed. Majid Shoukat Khan, who lived in the United States from 1996 to 2
Published 16 Feb, 2012 12:00am
M.A Mass Communication: Hashmi Institute gets affiliated with KU

M.A Mass Communication: Hashmi Institute gets affiliated with KU

The office of the Affiliation Committee of University of Karachi has issued a notification for the affiliation of Hashmi Media Institute to introduce M.A, Mass Communication Programme after the approval of recommendations of the committee by the vice-chan
Published 16 Feb, 2012 12:00am
Killing of two men sparks violence in Lyari

Killing of two men sparks violence in Lyari

Following the prevailing law and order situation of Lyari where miscreants took to streets and killed two more persons, the law enforcement agencies are about to kick off massive surgical operation in the area. According to police and eyewitnesses, uniden
Published 16 Feb, 2012 12:00am
Sindh Assembly approves resolution to set up DRA

Sindh Assembly approves resolution to set up DRA

The Sindh Assembly on Wednesday approved a resolution unanimously to allow the federal parliament to evolve laws to set up a drug regulatory authority in the country. The PPP legislator, Anwar Ahmad Khan Maher had forwarded the resolution on the private m
Published 16 Feb, 2012 12:00am
Leave application of former chief minister-defers decision

Leave application of former chief minister-defers decision

Sindh Assembly on Wednesday deferred its decision on the leave application of former CM Sindh, Dr Arbab Ghulam Rahim, till next session on Friday. Secretary Sindh Assembly, Hadi Bux Buriro informed the house that Arbab Rahim had requested for leave, sayin
Published 16 Feb, 2012 12:00am
Non-payment of salaries: police baton-charge protesting LHWs

Non-payment of salaries: police baton-charge protesting LHWs

Police resorted to tear gassing and baton-charge to disperse the Lady Health Workers (LHW) protesting against non-provision of their salaries and regularisation of services outside Karachi Press Club here on Wednesday. Police also arrested several LHWs. T
Published 16 Feb, 2012 12:00am
Oil sales down by 11 percent year-on-year in January

Oil sales down by 11 percent year-on-year in January

The oil consumption in the country declined by 11 percent on year-on-year basis to 1.46 million tons in January 2012 against 1.64 million tons in the same month in 2011. "The major reason for the decline in consumption is the fall in sale of Furnace Oil (
Published 16 Feb, 2012 12:00am
Sindh government reverses decision on PITHM upgradation

Sindh government reverses decision on PITHM upgradation

Sindh government has reversed its earlier decision to upgrade the Pakistan Institute of Tourism and Hotel Management (PITHM) as University, now it will remain only an institute, reliable sources told Business Recorder here on Wednesday. PITHM is ev
Published 16 Feb, 2012 12:00am
Campaign launched against dearness, lawlessness

Campaign launched against dearness, lawlessness

Traders, Transporters and members of civil society on Wednesday jointly launched a protest campaign against dearness, corruption and lawlessness, recent hike in petroleum products' prices and electricity and gas tariffs. A mobile campaign "Caravan-e-Inqil
Published 16 Feb, 2012 12:00am
Sassui Palijo chairs NFM meeting

Sassui Palijo chairs NFM meeting

The Executive Board of National Fund for Mohen-jo-Daro (NFM), chaired by Sindh Culture Minister, Sassui Palijo, held its second meeting, after devolution of the site from Federal Government to Government of Sindh, Culture Department at Mohen-jo-Daro.
Published 16 Feb, 2012 12:00am
SNF slams killing of Baloch people

SNF slams killing of Baloch people

A large number of members of Sindh National Movement Wednesday staged protest demonstration against the killings of Baloch people, demanding government to establish peace in the province. The charged protesters held placards, banners and their party's fla
Published 16 Feb, 2012 12:00am
Abandoned fetuses: culprits still at large

Abandoned fetuses: culprits still at large

Sindh police have so far appeared clueless about culprits involved in dumping fetuses of five babies at garbage drum at Akhtar Colony. According to police sources, although the case 25/12 in this regard was registered under sections 329/338-B/34 of the Pa
Published 16 Feb, 2012 12:00am
Anti-profiteering drive 110 shopkeepers booked

Anti-profiteering drive 110 shopkeepers booked

Special teams of district administration here lodged FIR against 110 shopkeepers during surprise raids to check compliance of price rules and laws, wherein fine of Rs 85,700/- was imposed on the violators.
Published 16 Feb, 2012 12:00am
Sindh University notification

Sindh University notification

Controller of Examinations, University of Sindh has announced the results of BS first year, second year, third year and fourth year under the annual semester examination of Freshwater Biology and Fisheries, on Wednesday.
Published 16 Feb, 2012 12:00am
Balochistan killings: protesters block highway

Balochistan killings: protesters block highway

Following the arrival of seven bodies at Karachi from Turbat, the family members of the deceased staged protest demonstration at Super Highway that caused massive gridlock at Shahrah Pakistan for hours.
Published 16 Feb, 2012 12:00am
Five shot dead in Naushero Feroz

Five shot dead in Naushero Feroz

At least five people were killed and several others injured here in a firing incident, police said. As per details, some unidentified armed persons opened fire at a car carrying five people at Moro Highway in Naushero Feroz district. The attackers were hi
Published 16 Feb, 2012 12:00am
'AIDM is a premier institution in dentistry'

'AIDM is a premier institution in dentistry'

Dental hygiene is an absolute must for any healthy modern society and the Altamash Institute of Dental Medicine (AIDM) is providing exemplary service in this respect. The AIDM has established itself as a premier institution in dentistry in Pakistan in a s
Published 16 Feb, 2012 12:00am
EOBI disburses Rs 892 million during January

EOBI disburses Rs 892 million during January

The Employees' Old-Age Benefits Institution (EOBI) has disbursed an amount of Rs 892 million during the month of January. This was stated by Javed Iqbal, Director General (Operations) South here on Wednesday. He said that EOBI is a prime welfare organisat
Published 16 Feb, 2012 12:00am
Mirza Ghalib remembered

Mirza Ghalib remembered

Renowned poet of Urdu and Farsi Mirza Asadullah Khan Ghalib remembered on his 143th death anniversary on Wednesday. Mirza Asadullah who is renowned with a pen-name Ghalib, was born on 27 December 1796 in Agra, the former capital of the Mughal Empire, now
Published 16 Feb, 2012 12:00am
Export of sugar: millers irked by delay in issuance of SRO

Export of sugar: millers irked by delay in issuance of SRO

Authorities seem to be taking time to issue SRO with regard to export of 0.1 million tons of sugar delayed as the are in this regard, industry sources told Business Recorder on Wednesday over delay. The Economic Co-ordination Committee (ECC) has al
Published 16 Feb, 2012 12:00am
Conference on Pakistan's Economic Roadmap today

Conference on Pakistan's Economic Roadmap today

A one-day conference to discuss Pakistan's Economic Roadmap will take place today (Thursday) in Karachi. Renowned economist and financial sector experts will participate in the conference and present papers & presentation on ways & methods required to pro
Published 16 Feb, 2012 12:00am
Energy sector: Germany ready to provide all possible assistance: CG

Energy sector: Germany ready to provide all possible assistance: CG

Dr Tilo Klinner, Consul General of Germany, said that Germany is ready to provide all possible assistance to Pakistan in energy sector in order to overcome its ongoing energy crisis. Speaking at Korangi Association of Trade and Industry (KATI) on Tuesday,
Published 16 Feb, 2012 12:00am
'Strong monitoring needed to ensure pharma industry integrity'

'Strong monitoring needed to ensure pharma industry integrity'

The 'Drug Regulatory Authority' (DRA) should just not only regulate medicines but also the alternative medicines, including homeopathic and all other imported medicines, on which there is currently no control in the country. The Executive Director of Phar
Published 16 Feb, 2012 12:00am
WHT on cash cheques: IMF proposal hailed

WHT on cash cheques: IMF proposal hailed

The IMF recommendation to the government of Pakistan to withdraw the 0.2 percent withholding tax on cash drawings from banks exceeding Rs 25,000, being not conducive to banking sector deposit growth and hurting its liquidity system, has been hailed by the
Published 16 Feb, 2012 12:00am
Notices issued in death registration case

Notices issued in death registration case

The Lahore High Court here on Wednesday issued notices for February 17 in a petition seeking registration of case for the death of one Salma Bibi who was died in ambulance due to traffic blockage. Petitioner, a bar member, Asad Mehmood contended that Salm
Published 16 Feb, 2012 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold rose on Wednesday after China vowed to continue to invest in euro zone government debt, increasing gold's appeal as a hedge against inflation fuelled by easy monetary policies. Bullion came off its early session highs as the dollar recovered losses v
Published 16 Feb, 2012 12:00am
US MIDDAY: Copper falls

US MIDDAY: Copper falls

In New York, the key COMEX March contract ended down 1.30 cents at $3.8015 per lb, near the bottom of its $3.79 to $3.8725 session range. Copper fell in lock-step with equities after euro zone sources said officials were considering delaying parts or even
Published 16 Feb, 2012 12:00am
US MIDDAY: Soya advances

US MIDDAY: Soya advances

US soyabean futures rose early on Wednesday, staying near a four-month high on the prospect of more US exports as dry weather threatens crops in South America. Wheat and corn were nearly unchanged in choppy trade as plentiful global wheat supplies and ear
Published 16 Feb, 2012 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose in Europe on Wednesday, helped in part by a softer dollar, as investors sought clarity on prospects for a second Greek debt bailout and the outlook for growth in the euro zone. Investors noted that bullion recently has not behaved typically as a
Published 16 Feb, 2012 12:00am
Gold falls in New York

Gold falls in New York

Gold dropped on Tuesday as the dollar rallied versus the euro on renewed fears of credit downgrades in major European economies and uncertainty over Greece's bailout. Spot gold was down 0.4 percent at $1,715.60 an ounce by 2:13 pm EST (1913 GMT), having t
Published 16 Feb, 2012 12:00am
Gold gains in Asia

Gold gains in Asia

Gold gained half a percent on Wednesday, on course for its biggest one-day rise in a week, on hopes Greece would deliver on a commitment to implement tough austerity measures and on China's pledge to keep investing in euro zone government debt.Spot gold g
Published 16 Feb, 2012 12:00am
Coffee and cocoa soar

Coffee and cocoa soar

London robusta coffee premiums continued to soar on Wednesday, while cocoa jumped roughly 5 percent as West African arrivals slowed. The benchmark arabica coffee contract extended its losses to another 14-month low and flirted with the psychological $2-pe
Published 16 Feb, 2012 12:00am
Palm oil climbs

Palm oil climbs

Malaysian crude palm oil futures rose to their highest level in over a month, boosted by dry weather concerns in South America, but the prospect of slowing demand due to Europe's economic woes led the contract to close lower. Hamburg-based oilseeds analys
Published 16 Feb, 2012 12:00am
Soyabeans move up

Soyabeans move up

US soyabean futures hit a near four-month high on Tuesday, rallying for a third straight session as dry weather threatened Brazil's crop prospects and fresh export demand emerged for US supplies, traders said. The gains came on the eve of a ceremony in wh
Published 16 Feb, 2012 12:00am
Tokyo rubber futures up two percent

Tokyo rubber futures up two percent

Key TOCOM rubber futures ended 2 percent higher on Wednesday helped by the yen's fall and higher oil prices, with investors awaiting word of when the Thai government will intervene in the market. The key Tokyo Commodity Exchange rubber contract for July d
Published 16 Feb, 2012 12:00am
Oil near six-month peak on supply risks

Oil near six-month peak on supply risks

Brent oil kept gains near six-month highs on Wednesday, as fears of supply disruptions from Iran, other Middle Eastern producers and Africa outweighed worries about the global economy. But concerns about the outcome of Greek bailout talks in Brussels amon
Published 16 Feb, 2012 12:00am
Copper slips

Copper slips

Copper eased on Wednesday as the euro weakened on news that eurozone finance officials could delay Greece's second bailout and as physical demand from top buyer China remained subdued. Three-month copper on the London Metal Exchange closed at $8,370 a ton
Published 16 Feb, 2012 12:00am
Shanghai copper up

Shanghai copper up

The most-traded May copper contract on the Shanghai Futures Exchange traded up 1.1 percent at 60,760 yuan a tonne on Wednesday. "The Greece saga is just dragging and dragging - there's no sense of closure and this week we're going to see more of the same,
Published 16 Feb, 2012 12:00am
New York cotton settles higher

New York cotton settles higher

Benchmark US cotton futures closed higher on Tuesday, as mills grabbed cotton while prices remain in the lower end of their recent trading range, but later-dated contracts slipped as a tepid US retail sales report dampened the outlook for demand.
Published 16 Feb, 2012 12:00am
Malaysia arrests Iranian over Thai blasts

Malaysia arrests Iranian over Thai blasts

Malaysian authorities on Wednesday arrested an Iranian suspected in an alleged bomb plot against Israeli diplomats in Thailand, Malaysia's police chief said. The Iranian was among three suspects in the bombings that rattled the Thai capital Bangkok on Tue
Published 16 Feb, 2012 12:00am
Sri Lanka agrees to probe war crimes ahead of UN meet

Sri Lanka agrees to probe war crimes ahead of UN meet

Sri Lanka's army on Wednesday agreed for the first time to probe war crime charges against its troops and investigate allegations of prisoner executions made in a British TV documentary. Army chief Jagath Jayasuriya appointed a court of inquiry to investi
Published 16 Feb, 2012 12:00am
Nato to spend 3.0 billion euros on drone programme

Nato to spend 3.0 billion euros on drone programme

Nato will spend 3.0 billion euros ($3.9 billion) to buy and operate five US-built drones over 20 years in an effort to fill a gap exposed in the Libyan air war, an official said Wednesday. Allies will pay at least 1.0 billion euros to acquire the Global H
Published 16 Feb, 2012 12:00am
Zurich most expensive city

Zurich most expensive city

The strong Swiss franc has seen Zurich top Tokyo as the world's most expensive city in a survey out on Wednesday. Zurich, ranked fourth last year, took the unenviable crown in the 2012 World-wide Cost of Living Survey by the Economist Intelligence Unit. T
Published 16 Feb, 2012 12:00am
Malnutrition 'puts 450 million children at risk of stunting'

Malnutrition 'puts 450 million children at risk of stunting'

About 450 million children will be physically and mentally stunted over the next 15 years unless the world takes action to tackle malnutrition, a new report from Save the Children warned Wednesday. Every hour, 300 children die due to a lack of nutrients i
Published 16 Feb, 2012 12:00am
Tens of billions at stake in BP oil spill trial

Tens of billions at stake in BP oil spill trial

Tens of billions of dollars will be at stake when BP heads to a US court this month to determine how much it owes for the massive Gulf of Mexico oil spill and how much it can shift to subcontractors. Several government probes have castigated BP, rig opera
Published 16 Feb, 2012 12:00am
Citigroup to pay $158.3 million in US mortgage accord

Citigroup to pay $158.3 million in US mortgage accord

Citigroup Inc has agreed to pay $158.3 million to settle US civil claims that it defrauded the government over some home loans from its CitiMortgage unit. Wednesday's settlement resolves claims under the federal False Claims Act and concerned more than si
Published 16 Feb, 2012 12:00am
Taliban taunt US on anniversary of Soviet pull-out

Taliban taunt US on anniversary of Soviet pull-out

Afghanistan's Taliban insurgents seized on the anniversary Wednesday of the Soviet Union's withdrawal from Afghanistan in 1989 to mock US-led Nato forces, saying they faced the same fate. "Today on this glorious anniversary the US invaders and their coali
Published 16 Feb, 2012 12:00am
Cold snap in Eastern Europe kills over 600

Cold snap in Eastern Europe kills over 600

More than 600 people in Eastern Europe have died during a record-breaking cold snap, authorities said Wednesday, as officials in the Czech Republic blamed two massive car pile-ups on blinding snow. Since the end of January, the region has been pummelled b
Published 16 Feb, 2012 12:00am
Four die, over 30 ill from glue poisoning in China

Four die, over 30 ill from glue poisoning in China

Four workers have died and about 30 have fallen ill in south China from suspected glue poisoning that caused severe nerve damage, health authorities and state media said Wednesday. The victims worked in Guangzhou city in shoe and bag factories with poor v
Published 16 Feb, 2012 12:00am
Over 120 hurt in Bahrain clashes

Over 120 hurt in Bahrain clashes

More than 120 protesters have been wounded in clashes with police in Bahrain this week, activists said on Wednesday, and a top opposition figure said the government had put out feelers about talks to resolve the Gulf state's year-long crisis. Activists us
Published 16 Feb, 2012 12:00am
Kosovo Serbs defy Belgrade, EU with referendum

Kosovo Serbs defy Belgrade, EU with referendum

Serbs in north Kosovo voted for the second day Wednesday in a referendum on ethnic Albanian rule, in a slap in the face to efforts by Serbia and the EU to resolve differences over the territory. Many Kosovo Serbs fear that Belgrade, which is hoping to win
Published 16 Feb, 2012 12:00am
Nasheed rejects summons from Maldives police

Nasheed rejects summons from Maldives police

Ousted Maldives leader Mohamed Nasheed has rejected a police summons to record a statement about his actions as president, his spokesman said Wednesday. Nasheed's former foreign minister Ahmed Naseem said Maldivian police had asked the former president to
Published 16 Feb, 2012 12:00am
Pakistan disabled cricket team win first ODI

Pakistan disabled cricket team win first ODI

Pakistan beat England by 79 runs in the first official one-day international between two Physical Disability sides played at the ICC Global Cricket Academy in Dubai. Electing to bat, Pakistan compiled 285 for five from 40 overs, vice-captain Hasnain Alam
Published 16 Feb, 2012 12:00am
Cancer-hit Yuvraj gets Armstrong boost

Cancer-hit Yuvraj gets Armstrong boost

India's cancer-stricken World Cup star Yuvraj Singh said Wednesday he was inspired after getting a message from US cycling legend Lance Armstrong wishing him a speedy recovery. "Message from @lancearmstrong makes me feel better! Thank you lance means a lo
Published 16 Feb, 2012 12:00am
GCU annual sports from tomorrow

GCU annual sports from tomorrow

The 112th Annual Sports of the Government College University (GCU) Lahore are being held from Friday. The three-day majestic sports event will start from a grand march-past at the Punjab University Old Campus Cricket Ground in which 26 contingents compris
Published 16 Feb, 2012 12:00am
Refugee to role model for Afghan skipper

Refugee to role model for Afghan skipper

He is the rugged face of Afghan cricket with a story fit for the big screen, and he embodies not only his nation's turbulent past, but its hopes for a brighter future. When Nawroz Mangal led Afghanistan against Pakistan last week, it was the end of a long
Published 16 Feb, 2012 12:00am
J-League vows to shun yakuza

J-League vows to shun yakuza

Japan's football chiefs have vowed to shun the country's infamous "yakuza" mobsters, as the sport world-wide tries to protect itself against the long tentacles of organised crime and illegal gambling. J-League clubs, players and referees issued a joint de
Published 16 Feb, 2012 12:00am
Ponting's return prompts vice-captaincy confusion

Ponting's return prompts vice-captaincy confusion

Steve Waugh has questioned recalling Ricky Ponting as captain of the Australian One-day team in the absence of the injured Michael Clarke, reflecting widespread confusion in the country about the role of the vice-captain. Ponting, who stood down as Test a
Published 16 Feb, 2012 12:00am
Prince Charles gives Burnley royal seal of approval

Prince Charles gives Burnley royal seal of approval

Prince Charles has admitted he is a fan of an English soccer club but his team are not part of the Premier League's aristocracy. The heir to the British throne has given royal assent to Burnley, who are currently 10th in the second tier of English soccer.
Published 16 Feb, 2012 12:00am
Wozniacki crashes at Doha first hurdle

Wozniacki crashes at Doha first hurdle

Caroline Wozniacki, playing her first match since losing her world number one ranking, was knocked out of the Qatar Open on Wednesday, going down 4-6, 6-4, 7-6 (7/3) to Lucie Safarova of the Czech Republic. Wozniacki, seeded two but now ranked at four in
Published 16 Feb, 2012 12:00am
Defending champ Zvonareva limps out of Doha

Defending champ Zvonareva limps out of Doha

Defending champion Vera Zvonareva of Russia limped out of the WTA Qatar Open with a left hip injury midway through her second round match against Romania's Monica Niculescu on Wednesday. Niculescu had taken the first set 7-5 and was leading 3-2 in the sec
Published 16 Feb, 2012 12:00am
Anelka lands in China amid high hopes

Anelka lands in China amid high hopes

Nicolas Anelka, the most high-profile foreign footballer ever to sign for the Chinese league, arrived to join up with his new side Shanghai Shenhua on Wednesday, the club said. The 32-year-old former Chelsea striker posed for a photo with an immigration o
Published 16 Feb, 2012 12:00am
Ghulam Nabi leads in Bank Al Habib golf

Ghulam Nabi leads in Bank Al Habib golf

The round 2 of Bank Al Habib's Rashid D. Habib Golf Tournament at Karachi Golf Club Karsaz witnessed top golfers of Pakistan struggling with their expertise and supported by luck for achieving the top position in the tournament. The weather continued to b
Published 16 Feb, 2012 12:00am
Barca all but in last eight, APOEL's dream lives on

Barca all but in last eight, APOEL's dream lives on

Holders Barcelona all but sealed their place in this season's Champions League quarter-finals after beating German opponents Bayer Leverkusen 3-1 away in their Last 16 first leg clash on Tuesday. They could well be joined by Cypriot side APOEL, who came a
Published 16 Feb, 2012 12:00am
Sterling gains muted

Sterling gains muted

Sterling held above recent lows against the dollar and cut its losses against the euro on Wednesday, drawing support from the Bank of England's latest inflation report which dampened expectations of further monetary stimulus. But gains were limited as BoE
Published 16 Feb, 2012 12:00am
Emerging Asian currencies rise broadly

Emerging Asian currencies rise broadly

Emerging Asian currencies rose broadly on Wednesday after China's central bank chief said Beijing will continue to invest in euro zone government debt, pushing the euro and riskier assets higher. The Singapore dollar led gains in Asian currencies, rising
Published 16 Feb, 2012 12:00am
Indian rupee ends stronger

Indian rupee ends stronger

The Indian rupee ended stronger on Wednesday buoyed by large gains in local shares, but off its day's highs on persistent dollar demand by oil firms. Oil refiners are the largest buyers of dollars in the foreign exchange market as India imports more than
Published 16 Feb, 2012 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc tracked the euro higher against the dollar on Wednesday as China said it would continue to buy eurozone debt and hopes rose that Greece would enact stiff reforms to curb its debt load, firming up support for the single currency. The franc
Published 16 Feb, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 82.40-83.00 (previous 83.07-83.40). Call Money Rates: 12.00-20.00 percent (previous 07.25-20.00 percent.
Published 16 Feb, 2012 12:00am
Yen slips versus dollar

Yen slips versus dollar

The yen slid to its lowest in 3-1/2 months against the dollar on Tuesday after the Bank of Japan boosted its asset-buying program, though analysts cautioned that the yen's slide could slow as the effect of the monetary easing fades. The euro also fell aft
Published 16 Feb, 2012 12:00am
Midday trade in New York: Euro stumbles

Midday trade in New York: Euro stumbles

The euro slid to its lowest in more than a week against the dollar and from two-month peaks versus the yen on Wednesday as euro zone officials considered ways to delay a second bailout package for Greece while still avoiding a chaotic default.
Published 16 Feb, 2012 12:00am
Euro rises in London

Euro rises in London

The euro rose against the dollar on Wednesday after China said it would continue investing in euro zone debt, offsetting a contraction in quarterly GDP that added to concerns the currency bloc could slip into recession. The single currency was also underp
Published 16 Feb, 2012 12:00am
Dollar gains versus yen in Asia; Aussie rises

Dollar gains versus yen in Asia; Aussie rises

The dollar was seen extending its gains after it hit a 3-1/2 month high against the yen on Wednesday, as the Bank of Japan's easing steps the day before helped trigger more stop-loss buying of the greenback. On top of the BoJ's expansion of its asset-buyi
Published 16 Feb, 2012 12:00am
Yuan ends flat

Yuan ends flat

The yuan closed almost unchanged against the dollar on Wednesday after the People's Bank of China fixed a slightly weaker mid-point that sent a signal that the government hopes to keep the yuan stable in the near term. The PBOC guided the yuan back slight
Published 16 Feb, 2012 12:00am
Australian and New Zealand dollars jump versus yen

Australian and New Zealand dollars jump versus yen

The Australian and New Zealand dollars scaled multi-month peaks against the yen and rallied on the US dollar on Wednesday after China reiterated its support to eurozone government debt, lifting risk sentiment. The Antipodean currencies had already been up
Published 16 Feb, 2012 12:00am
Miners drag as FTSE stalls in tight range

Miners drag as FTSE stalls in tight range

Britain's top share index fell in light, choppy trade on Wednesday, pressured by heavyweights such as BP trading ex-dividend, and miners and broadcasters after analysts cautioned against further upside to recent sector gains. London's blue chip index clos
Published 16 Feb, 2012 12:00am
European shares rise

European shares rise

European shares ended off session highs on Wednesday in thin trade, as investors pared gains on a report euro zone officials were considering delaying the second Greek bailout until after the country holds elections in April. The market had earlier hit fr
Published 16 Feb, 2012 12:00am
Seoul shares at six-month high

Seoul shares at six-month high

Seoul shares rose to a six-month closing high on Wednesday on a surge in large-cap technology counters such as Samsung Electronics Co Ltd, extending a liquidity-driven rally that has prevailed since the start of the year. "Although gains were focused on a
Published 16 Feb, 2012 12:00am
Indian shares rise two percent

Indian shares rise two percent

Indian shares rose for the third straight session on Wednesday, up 2 percent to their highest level in more than six months, as falling inflation bolstered appetite for shares in interest rate sensitive sectors such as banks, automobiles and infrastructur
Published 16 Feb, 2012 12:00am
Topix hits 800 mark

Topix hits 800 mark

Japan's Nikkei average rallied to a six-month closing high and the broader Topix index breached the 800 level on Wednesday after the Bank of Japan expanded its asset buying programme the previous day. The BoJ's surprise move, which included adding 10 tril
Published 16 Feb, 2012 12:00am
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