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Archive - 2012-03-06
Growth, Greece worries hit stocks, euro
Top News

Growth, Greece worries hit stocks, euro

NEW YORK: Global stock markets and the euro fell on Tuesday due to worries about a global growth slowdown and whether en
Published 06 Mar, 2012 07:52pm
ISE-10 sheds 10 points
Markets

ISE-10 sheds 10 points

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Tuesday witnessed bearish trend as the index was down by 10.33 poin
Published 06 Mar, 2012 04:08pm
Lehman emerges from bankruptcy
Top News

Lehman emerges from bankruptcy

NEW YORK : Lehman Brothers Holdings Inc emerged from its record $639 billion bankruptcy on Tuesday and said it will star
Published 06 Mar, 2012 03:00pm
RECORDER REPORT: close of day
Top News

RECORDER REPORT: close of day

KARACHI : Upward trend continued at the Karachi share market on Tuesday and the KSE-100 index gained another 46.03 poi
Published 06 Mar, 2012 02:46pm
Water near dead-level in Tarbela Dam
Top News

Water near dead-level in Tarbela Dam

ISLAMABAD: Water level in Tarbela Dam, which has been falling lately is just six feet above its dead-level. Experts say
Published 06 Mar, 2012 10:00am
Pakistan beckons as market to HPCL
Top News

Pakistan beckons as market to HPCL

MUMBAI, March 06 PPI: Pakistan 's move to ease trade with India could translate into a big opportunity for Hindustan
Published 06 Mar, 2012 09:40am
US pledges aid to Congo blast
Africa

US pledges aid to Congo blast

BRAZZAVILLE: The United States led international pledges of emergency aid to Congo after huge blasts at arms depot in
Published 06 Mar, 2012 08:46am
Hong Kong shares down 1.51pc
Financial

Hong Kong shares down 1.51pc

HONG KONG: Hong Kong shares slipped 1.51 percent in the morning session Tuesday, in line with global markets, after Chin
Published 06 Mar, 2012 06:45am
Quake rocks central Philippines
Asia

Quake rocks central Philippines

MANILA: A 5.2-magnitude earthquake rocked the central Philippines early on Tuesday, breaking windows, destroying an old
Published 06 Mar, 2012 06:14am
Anti-Putin leader faces jail
Europe

Anti-Putin leader faces jail

MOSCOW: The three main leaders of Russia's opposition movement faced court hearings on Tuesday after being released from
Published 06 Mar, 2012 05:50am
Oil prices up on Iran risks
Top News

Oil prices up on Iran risks

SINGAPORE: Oil prices edged higher in Asian trade Tuesday as geopolitical tensions over crude producer Iran's nuclear pr
Published 06 Mar, 2012 04:44am
Turkey's 'neo-Ottoman' aims
Top News

Turkey's 'neo-Ottoman' aims

ANKARA : A new Turkish blockbuster glorifying the 15th-century Ottoman conquest of Constantinople has taken Turkey b
Published 06 Mar, 2012 04:42am
Bhoja Air in the skies
BR Research

Bhoja Air in the skies

Looks like countrys Civil Aviation Authority (CAA) has finally decided to relive its open sky policy practiced back in 1990s. Its high time
Published 06 Mar, 2012 12:00am
Radio, motor vehicle tax challenged in LHC

Radio, motor vehicle tax challenged in LHC

Levy of radio and motor vehicle tax has been challenged before the Lahore High Court. The petitioner, a bar member, Mian Asif, contended that the government instead of giving relief to the masses putting burden of taxes on the poor people.
Published 06 Mar, 2012 12:00am
Plea to declare Senate polls null

Plea to declare Senate polls null

A bar member has filed a petition against the Senate elections before the Supreme Court at Lahore Registry. Petitioner Barrister Zafarullah Khan contended that candidates in Senate election buy the votes and used millions of rupees for this purpose. He sa
Published 06 Mar, 2012 12:00am
New Islamabad Airport likely to be operational by 2014

New Islamabad Airport likely to be operational by 2014

The New Islamabad International Airport, located in Fateh Jang Tehsil of Attock District some 30km south-west of the Federal Capital, is expected to be completed and operational by 2014.
Published 06 Mar, 2012 12:00am
Urdu dictionary gains international recognition

Urdu dictionary gains international recognition

The 22-volume Urdu dictionary has gained international recognition as a world class dictionary. This was stated by speakers at a reception hosted by Iranian Culture Centre, says a statement here on Monday by the Urdu Dictionary Board (UDB).
Published 06 Mar, 2012 12:00am
SSUET declares B S results

SSUET declares B S results

Sir Syed University of Engineering and Technology (SSUET) has announced the final B S degree results for batch 2008 in the disciplines of Electronic, Telecommu-nication, Computer, Biomedical and Civil Engineering and Computer Science.
Published 06 Mar, 2012 12:00am
Opening of trade with India will have positive impact: Agar

Opening of trade with India will have positive impact: Agar

Several deals have been negotiated between the traders of Pakistan and India for the import of raw materials. This was stated by Haroon Agar, former Chairman, Pakistan Chemicals and Dyers Merchant Association (PCDMA). He said opening of trade with India w
Published 06 Mar, 2012 12:00am
Innovation cell established at PCRWR

Innovation cell established at PCRWR

A Commercialisation and Innovation Cell (CIC) has been established at Pakistan Council of Research in Water Resources (PCRWR) with the objective to observe quality control parameters in water related issues. CIC is established under national and internati
Published 06 Mar, 2012 12:00am
Processing cases of sugar export: SBP issues outlines of mechanism

Processing cases of sugar export: SBP issues outlines of mechanism

The State Bank of Pakistan (SBP) has advised all authorised dealers in foreign exchange (banks) to process the cases of sugar export and get appropriate approval of all cases from SBP. SBP on Monday has issued outlines of mechanism for processing cases of
Published 06 Mar, 2012 12:00am
KSE expels United Capital Securities

KSE expels United Capital Securities

United Capital Securities (Private) Limited has been expelled from Karachi Stock Exchange (KSE) on Monday due to its inability to improve financial condition and satisfactorily settle investors claims within specified deadline.
Published 06 Mar, 2012 12:00am
Italian soldiers sent to jail by Indian court

Italian soldiers sent to jail by Indian court

An Indian court on Monday ordered two Italian soldiers to be moved to jail from a guest house as officials investigate last month's killing of two Indian fishermen at sea. The trial court in the southern state of Kerala denied a plea for jail privileges w
Published 06 Mar, 2012 12:00am
Sonia Gandhi 'fine' after US medical check-up

Sonia Gandhi 'fine' after US medical check-up

Sonia Gandhi, the president of India's ruling Congress party, has returned from a checkup in the United States six months after surgery for an undisclosed condition, a spokesman said Monday. "Sonia Gandhi is back in New Delhi. She's perfectly fine and all
Published 06 Mar, 2012 12:00am
Aung San Suu Kyi campaigns in Myanmar's capital

Aung San Suu Kyi campaigns in Myanmar's capital

Opposition leader Aung San Suu Kyi brought her political challenge to the gates of her rivals Monday, campaigning for her party's candidates facing a tough battle in Myanmar's remote, military-dominated capital. Suu Kyi spoke at two rallies for candidates
Published 06 Mar, 2012 12:00am
Super Tuesday contests: key members of Congress endorse Romney

Super Tuesday contests: key members of Congress endorse Romney

Mitt Romney hopes to use Tuesday's massive batch of presidential primary contests in 10 states to reassert himself as the unchallenged front-runner in the Republican race to pick a challenger to President Barack Obama.
Published 06 Mar, 2012 12:00am
China to spend $111 billion on police

China to spend $111 billion on police

China will spend $111.6 billion on its police forces in 2012, the government said Monday, as it focuses on quelling rising social unrest ahead of a 10-yearly leadership change. Despite nearly two decades of annual double-digit economic growth, social stab
Published 06 Mar, 2012 12:00am
Singapore top carbon emitter in Asia-Pacific

Singapore top carbon emitter in Asia-Pacific

Affluent Singapore had the largest carbon footprint per head in the Asia-Pacific in 2010, conservation group WWF said Monday. The environmental advocacy group said Singapore's 2010 per capita gross domestic product of more than $40,000 - one of the highes
Published 06 Mar, 2012 12:00am
IAEA has 'serious concerns' as Iran boosts nuclear work

IAEA has 'serious concerns' as Iran boosts nuclear work

Iran has tripled its monthly production of higher-grade enriched uranium and the UN nuclear watchdog has "serious concerns" about possible military dimensions to Tehran's atomic activities, the agency's chief said on Monday. As International Atomic Energy
Published 06 Mar, 2012 12:00am
Iranian court overturns US former Marine death term

Iranian court overturns US former Marine death term

Iran's Supreme Court has overturned a death sentence for spying handed down to former US Marine Amir Mirzai Hekmati, Iranian media reported on Monday, quoting a top judiciary official. "The sentence was overturned by the Supreme Court ... The case has bee
Published 06 Mar, 2012 12:00am
Syrian military extends crackdown, refugees flee

Syrian military extends crackdown, refugees flee

Syria's military pursued a crackdown on rebels on several fronts on Monday, days after eliminating an opposition bastion in the central city of Homs following a 26-day siege, activists said. Troops kept the Red Cross out of the wrecked Homs district of Ba
Published 06 Mar, 2012 12:00am
India bans six arms firms over bribery scandal

India bans six arms firms over bribery scandal

India on Monday blacklisted six armament firms for 10 years for their alleged role in a 2009 weapons bribery scandal, a government statement said. The firms targeted by the defence ministry included Singapore Technologies Kinetics Ltd, Switzerland's Rhein
Published 06 Mar, 2012 12:00am
Gunmen kill 27 in Iraq raids

Gunmen kill 27 in Iraq raids

Gunmen disguised as police raided checkpoints and homes in western Iraq on Monday, killing at least 27 members of the security forces, police said, in an attack the authorities said bore the hallmarks of al Qaeda. The attacks in Anbar, once Iraq's most vi
Published 06 Mar, 2012 12:00am
India unveils anti-beating charter for schools

India unveils anti-beating charter for schools

India on Monday unveiled new guidelines on disciplining children in schools after a survey revealed large-scale corporal punishment meted out by teachers. More than 98 percent of the 6,632 children involved in the survey, who were aged between three and 1
Published 06 Mar, 2012 12:00am
Powerful quake rattles New Delhi

Powerful quake rattles New Delhi

A 5.2-magnitude earthquake struck close to the Indian capital of New Delhi on Monday, with powerful tremors shaking buildings and sending frightened residents scurrying into the streets. The quake struck shortly after 1:10pm (0740 GMT) and the tremors las
Published 06 Mar, 2012 12:00am
Putin faces protests, monitors' criticism

Putin faces protests, monitors' criticism

Thousands of protesters chanting "Russia without Putin" took to the streets of Moscow and St Petersburg on Monday to challenge Vladimir Putin's victory in a presidential election which international monitors said was unfair. Putin, who secured almost 64 p
Published 06 Mar, 2012 12:00am
Pakistan pins high hopes on Whatmore

Pakistan pins high hopes on Whatmore

Pakistan hopes new cricket coach, Australia's Dav Whatmore, can find a magic formula to transform the country's talented players into a team that enjoys sustained, match-winning success. The team's peaks and troughs are infamous. Last month's Test whitewa
Published 06 Mar, 2012 12:00am
Whatmore, Fountain visit SBP cricket camp

Whatmore, Fountain visit SBP cricket camp

Pakistan's cricket head coach, Dav Whatmore and fielding coach, Julian Fountain on Monday visited the training camp of State Bank's cricket team at the National Cricket Academy (NCA) Lahore. Intikhab Alam, director game development NCA, Haroon Rashid, hea
Published 06 Mar, 2012 12:00am
DHA Karachi Cup Open Golf concludes

DHA Karachi Cup Open Golf concludes

The third All Pakistan DHA Karachi Cup Open Golf Championship 2012 played at Defence Authority Country and Golf Club from March 1 to 4, 2012 finished here on Sunday evening. An impressive prize distribution ceremony was held at the golf club venue in whic
Published 06 Mar, 2012 12:00am
Bowlers have work to do: Clarke

Bowlers have work to do: Clarke

Australian skipper Michael Clarke berated his much-vaunted bowling attack as not good enough ahead of the second One-day international final against Sri Lanka in Adelaide. Australia beat Sri Lanka by just 15 runs in the first of the best-of-three finals s
Published 06 Mar, 2012 12:00am
Chris Cairns sues Modi

Chris Cairns sues Modi

Former New Zealand cricket captain Chris Cairns told the High Court in London on Monday that an accusation of match-fixing had reduced his career to "dust" and strained his marriage. Cairns, 41, is suing Lalit Modi, the former chairman of Twenty20 franchi
Published 06 Mar, 2012 12:00am
Bangladesh cricket team assured of high-level security

Bangladesh cricket team assured of high-level security

Pakistan has assured Bangladesh of providing high-level security to its team on the pattern of visiting heads of state to bring international cricket to the country. "The Interior Ministry, the government of Punjab and Sindh have given a detailed presenta
Published 06 Mar, 2012 12:00am
Runako Morton dies in car crash

Runako Morton dies in car crash

The West Indies Cricket Board on Monday paid tribute to Runako Morton, after the former Test and one-day batsman was killed in a car accident. "Our deepest condolences to Runako Morton's family. Such devastating and tragic news," the board said on its off
Published 06 Mar, 2012 12:00am
Australian dollar extends losses

Australian dollar extends losses

The Australian dollar extended losses on Monday, weighed by weak Asian bourses and a broadly stronger US dollar, as investors turned their focus back to Europe's lingering fiscal issues ahead of Australia's rate decision. The Aussie nudged lower to $1.071
Published 06 Mar, 2012 12:00am
Sterling recovers

Sterling recovers

Sterling edged up after hitting a 10-day low against the dollar on Monday, but it remained vulnerable along with other riskier currencies due to uncertainty about Greece's progress in completing a debt restructuring deal. Traders said some profit-taking o
Published 06 Mar, 2012 12:00am
Yuan ends down

Yuan ends down

The yuan ended slightly lower against the dollar on Monday after the People's Bank of China set its midpoint sharply lower, the biggest single-day percentage fall in 16 months, a move traders said signalled the government may allow a wider trading range.
Published 06 Mar, 2012 12:00am
Asian currencies down

Asian currencies down

Emerging Asian currencies slid on Monday on profit-taking after recent gains pushed the units to key resistance levels, and as investors remained cautious ahead of a bond swap between Greece and private investors later this week. "The market is comfortabl
Published 06 Mar, 2012 12:00am
Swiss franc up

Swiss franc up

The Swiss franc ticked up against the dollar on Monday, after a strong fall the previous session, with risk jitters coming to the fore due to lower growth prospects for China and continuing worries about Greece's debts. The franc rose 1 percent against th
Published 06 Mar, 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 Monday. 81.60-81.84 (previous 81.60-81.80). Call Money Rates: 10.75-15.00 percent (previous 07.00-15.00 percent).
Published 06 Mar, 2012 12:00am
Euro, growth-linked currencies struggle in London

Euro, growth-linked currencies struggle in London

The euro hit two-week lows and growth-linked currencies fell on Monday, undermined by concerns over Greece's progress on completing a debt restructuring deal and poor eurozone data, although losses were checked by profit-taking in the dollar. The dollar s
Published 06 Mar, 2012 12:00am
Early trade in New York: euro off two-week low

Early trade in New York: euro off two-week low

The euro rebounded from a two-week low against the dollar on Monday, but remained susceptible to selling on worries over Greece's progress on completing a debt restructuring deal. Growth-linked currencies were hit after Asian powerhouse China lowered its
Published 06 Mar, 2012 12:00am
Dollar off high in Asia

Dollar off high in Asia

The dollar on Monday pulled away from a nine-month high hit on Friday as traders booked profits after the US currency rose nearly 8 percent in about a month. Traders said the dollar was ripe for some profit-taking following its strong gains. The dollar fe
Published 06 Mar, 2012 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee slipped to a six-week low on Monday weighed by persistent dollar demand from importers for oil payments as well as defence equipment purchases and weak local shares. The rupee ended at 49.835/845 to the dollar, after dipping to 49.9550, a
Published 06 Mar, 2012 12:00am
Miners drag on FTSE 100

Miners drag on FTSE 100

Britain's FTSE 100 fell on Monday, as weakness in miners and engineers outstripped strength in defensive stocks after China cut its growth forecasts, while mixed economic data in Europe and the United States dimmed the outlook for global growth. London's
Published 06 Mar, 2012 12:00am
Most Southeast Asian stocks fall

Most Southeast Asian stocks fall

Stocks in Indonesia and Thailand slid while Philippine shares eked out small gains in light trade on Monday as China growth concerns prompted many investors to cash in recent gainers. The prospects of slower growth in the world's second largest economy da
Published 06 Mar, 2012 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks closed 1.35 percent lower on Monday, the biggest single-day percentage fall in more than two weeks, pressured by HTC Corp and some Apple-linked plays such as Catcher Tech and Hon Hai. The main TAIEX index fell 109.70 points to 8,004.74, afte
Published 06 Mar, 2012 12:00am
Hong Kong and Shanghai shares down

Hong Kong and Shanghai shares down

Hong Kong and China shares declined on Monday, with financials and growth-sensitive sectors weak after Beijing announced its lowest annual growth target in eight years, sparking concerns that Chinese demand will slow. In Hong Kong, investors were also spo
Published 06 Mar, 2012 12:00am
Indian shares slip

Indian shares slip

Indian shares logged their lowest closing level in more than a month on Monday on worries that a lower-than-expected showing by the Congress party in a key state poll could hamper any move by the Congress-led federal government to revive stalled reforms.
Published 06 Mar, 2012 12:00am
Seoul shares pull back from seven-month high

Seoul shares pull back from seven-month high

Seoul shares fell on Monday as investors cashed out following last week's gains, with liquidity-driven momentum seen stalling on the lack of further evidence pointing to firmer growth and wariness that expiring options may trigger further correction. The
Published 06 Mar, 2012 12:00am
European shares decline

European shares decline

Heightened concern about economic growth in the eurozone and China weighed on cyclical stocks on Monday, pushing European shares lower at the close on Monday. But strategists and technical analysts said the underlying momentum was still bullish and the re
Published 06 Mar, 2012 12:00am
Monday's afternoon trade: Wall Street drops

Monday's afternoon trade: Wall Street drops

US stocks fell on Monday, dragged lower by the basic materials and energy sectors after China, the world's second-largest economy, cut its growth target for 2012. Data showing the US services sector expanded at its fastest pace in a year in February faile
Published 06 Mar, 2012 12:00am
Nikkei average drops

Nikkei average drops

Japan's Nikkei share average dropped on Monday as profit-taking from domestic investors mounted near key chart levels and as Asian shares slipped on disappointment after China announced its lowest annual growth target in eight years. Selling from Japanese
Published 06 Mar, 2012 12:00am
Saudi index rallies for 13th-session; most Gulf bourses up

Saudi index rallies for 13th-session; most Gulf bourses up

Saudi shares extended their rally into a 13th session on Monday with developer Dar Al Arkan jumping after saying its real-estate holdings were upgraded, as most Gulf bourses gained. The kingdom's benchmark inched up 0.03 percent to a fresh 42-month high.
Published 06 Mar, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 87,666 tonnes of cargo comprising1 66,798 tonnes of import cargo and 20,868 tonnes of export cargo including 4,855 loaded & empty containers during last 24 hours ended at 0700 hours on Monday. The total import cargo of 66,798 tonn
Published 06 Mar, 2012 12:00am
Russian grain prices stable due to modest demand

Russian grain prices stable due to modest demand

Russian grain prices were stable last week due to modest demand ahead of possible grain supply from Kazakhstan and from Russian state grain stocks during government interventions, analysts said. Russian wheat with 12.5 percent protein content slightly str
Published 06 Mar, 2012 12:00am
HRW wheat bids steady

HRW wheat bids steady

US Plains hard red winter wheat basis bids held steady Monday as spot demand eased with delivery of March contracted shipments picking up. Protein premiums for railcar wheat to and through Kansas City were up 8 cents for 12.00- and 12.20- percent protein
Published 06 Mar, 2012 12:00am
India's palm imports to rise as rapeseed output slumps

India's palm imports to rise as rapeseed output slumps

Palm imports by the world's top buyer India will rise about 8 percent in the current marketing year ending October 2012, an industry official said on Monday, adding that a consortium of Indian companies were looking to buy land in South America for soybea
Published 06 Mar, 2012 12:00am
Israel okays first Gaza to West Bank trade in 5 years

Israel okays first Gaza to West Bank trade in 5 years

Israel on Monday allowed the Palestinians to export two truckloads of date bars from Gaza to the West Bank in what was the first such trade between the territories since 2007, the military and an NGO said. The rare move was permitted as part of a World Fo
Published 06 Mar, 2012 12:00am
Zambia shuts polluting Glencore copper plant

Zambia shuts polluting Glencore copper plant

Zambia has closed a copper treatment plant belonging to Glencore International's Mopani Copper Mines for pollution violations, the state environmental agency said on Monday. Mopani Copper Mines said in a statement it was surprised at the action by the env
Published 06 Mar, 2012 12:00am
US services sector grows as Europe slumps

US services sector grows as Europe slumps

Growth in the vast US services sector quickened at its fastest pace in a year in February, suggesting the American economy continued to improve even as Europe veered toward recession. Meanwhile China cut its 2012 economic growth forecast on Monday and ple
Published 06 Mar, 2012 12:00am
India's top Iranian oil buyer plans to cut imports

India's top Iranian oil buyer plans to cut imports

India's largest Iranian oil buyer plans almost to halve daily imports, industry sources said on Monday, becoming the latest Asian refiner to cut supplies from Iran as Western sanctions make trade with Opec's second-largest producer difficult. India, China
Published 06 Mar, 2012 12:00am
Citi to boost India card, personal loan businesses

Citi to boost India card, personal loan businesses

Citigroup Inc expects to increase the number credit card customers it has in India by more than 20 percent a year over the next two to three years as it looks to boost its unsecured business portfolio in the country, a senior Citi executive said. The bank
Published 06 Mar, 2012 12:00am
Thousands protest sweeping solar cuts in Berlin

Thousands protest sweeping solar cuts in Berlin

Thousands gathered in Berlin on Monday to protest looming cuts to solar power incentives, which the solar industry says will reduce the market for new installations in Germany, the world's largest, to just a quarter of its size and result in massive job l
Published 06 Mar, 2012 12:00am
Afghan child hunger among worst in world

Afghan child hunger among worst in world

Children in Afghanistan suffer one of the highest levels of chronic malnutrition in the world, a report said Monday, despite billions of dollars in aid that have poured into the war-torn country. More than half of Afghan children under the age of five are
Published 06 Mar, 2012 12:00am
Chinese downloads 25 billionth Apple app

Chinese downloads 25 billionth Apple app

Apple announced Monday that downloads from its App store had hit 25 billion, with a person in eastern China grabbing a $10,000 prize for taking the tally to the landmark level. Chunli Fu of Qingdao, in eastern China, downloaded a free version of the Disne
Published 06 Mar, 2012 12:00am
Goldman raises US GDP view

Goldman raises US GDP view

Goldman Sachs on Monday raised its outlook for first-quarter US economic growth after a surprisingly strong report on the services sector from the Institute for Supply Management on Monday. The investment bank's economists raised their forecast for US gro
Published 06 Mar, 2012 12:00am
UK on track for first quarter pickup

UK on track for first quarter pickup

Britain's dominant service sector expanded less than expected in February, a business survey showed on Monday, but the economy still looks on track for modest growth in the first three months of this year after shrinking at the end of 2011. The Markit/CIP
Published 06 Mar, 2012 12:00am
Iraq's oil output rises above three million bpd; first time in decades

Iraq's oil output rises above three million bpd; first time in decades

Iraq's oil production has risen above 3 million barrels per day for the first time in more than three decades, it announced on Monday, and said it will sharply increase exports with a major new floating oil terminal beginning operations in three days. "Wh
Published 06 Mar, 2012 12:00am
Credit Suisse, Commerzbank join scramble to buy back debt

Credit Suisse, Commerzbank join scramble to buy back debt

Two of Europe's biggest banks joined the rush to buy back debt on Monday, notching up transactions worth some $5 billion combined as they scramble to bulk up capital ahead of new banking regulations. Credit Suisse and Commerzbank follow similar moves by m
Published 06 Mar, 2012 12:00am
Credit Suisse to buy back $4.4 billion of securities

Credit Suisse to buy back $4.4 billion of securities

Credit Suisse said on Monday it planned to buy back up to 4 billion Swiss francs ($4.4 billion) in outstanding securities in a bid to comply with the new Swiss and Basel III global capital adequacy rules. The tender was for public Tier 1 and Tier 2 instru
Published 06 Mar, 2012 12:00am
SingTel unveils new structure, buys Amobee

SingTel unveils new structure, buys Amobee

Singapore Telecommunications Ltd is setting up a new structure to raise its presence in content and mobile applications as companies like Apple Inc grab more revenues from mobile phone users globally. Southeast Asia's largest telecoms company also said on
Published 06 Mar, 2012 12:00am
Top lenders back Greek bond swap plan

Top lenders back Greek bond swap plan

Major Greek bondholders voiced their support on Monday for a deal that will decimate the value of their holdings as their contribution to keeping the country afloat. The steering committee of creditors, which includes 12 major investors in Greek bonds and
Published 06 Mar, 2012 12:00am
Top lenders back Greek bond swap plan

Top lenders back Greek bond swap plan

Major Greek bondholders voiced their support on Monday for a deal that will decimate the value of their holdings as their contribution to keeping the country afloat. The steering committee of creditors, which includes 12 major investors in Greek bonds and
Published 06 Mar, 2012 12:00am
Grain market closed

Grain market closed

According to the Grain and Seeds Merchants Group, there was no trading activity as markets were closed on Monday due to Giarhvin holiday.
Published 06 Mar, 2012 12:00am
Russia to build two new sugar refineries

Russia to build two new sugar refineries

Russia plans to build two new sugar refineries in the Stavropol region, each capable of processing 1 million tonnes of sugar beet per year, Russia's Agriculture Ministry said on its website on Monday. The two new refineries will increase annual production
Published 06 Mar, 2012 12:00am
Indian export ban may lift prices on cotton market

Indian export ban may lift prices on cotton market

Ban on export of cotton by India may help the prices to stabilise or push up on the cotton market, dealers said on Monday. The official spot rate was unchanged at Rs 5,300, they said. Seedcotton prices in Sindh were at Rs 1900-2300 and in the Punjab at Rs
Published 06 Mar, 2012 12:00am
Bangladesh seeks to buy sugar from Brazil

Bangladesh seeks to buy sugar from Brazil

Bangladesh is looking to buy 100,000 tonnes of sugar from Brazil in its first ever government-to-government deal with the world's largest producer and exporter of the sweetener, a senior official said on Monday. A delegation from Bangladesh headed by Indu
Published 06 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 06 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 06 Mar, 2012 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Monday (March 05, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for
Published 06 Mar, 2012 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 06 Mar, 2012 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
India bans cotton exports

India bans cotton exports

India, the world's second-largest producer and exporter of cotton, has banned overseas shipments of the commodity to guarantee local supplies, a major trade group said on Monday. The ban imposed by the Congress-led government is expected to crimp global s
Published 06 Mar, 2012 12:00am
India bans cotton exports

India bans cotton exports

India, the world's second-largest producer and exporter of cotton, has banned overseas shipments of the commodity to guarantee local supplies, a major trade group said on Monday. The ban imposed by the Congress-led government is expected to crimp global s
Published 06 Mar, 2012 12:00am
India bans cotton exports

India bans cotton exports

India, the world''s second-largest producer and exporter of cotton, has banned overseas shipments of the commodity to guarantee local supplies, a major trade group said on Monday. The ban imposed by the Congress-led government is expected to crimp global
Published 06 Mar, 2012 12:00am
Ban a boon for Pakistani traders

Ban a boon for Pakistani traders

India - the world's second largest cotton exporter has banned cotton export with immediate effect, opening new corridors for Pakistani exporters to fetch orders for some half a million bales from international market. Exporters told Business Recorder <
Published 06 Mar, 2012 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
Ban a boon for Pakistani traders

Ban a boon for Pakistani traders

India - the world's second largest cotton exporter has banned cotton export with immediate effect, opening new corridors for Pakistani exporters to fetch orders for some half a million bales from international market. Exporters told Business Recorder <
Published 06 Mar, 2012 12:00am
Ban a boon for Pakistani traders

Ban a boon for Pakistani traders

India - the world''s second largest cotton exporter has banned cotton export with immediate effect, opening new corridors for Pakistani exporters to fetch orders for some half a million bales from international market. Exporters told Business Recorder
Published 06 Mar, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 05, 2012).
Published 06 Mar, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
Negative list violation of WTO obligation: Cabinet informed

Negative list violation of WTO obligation: Cabinet informed

Federal Cabinet has reportedly been apprised by the Secretary Commerce Zafar Mahmood that India-specific negative list is a violation of the World Trade Organisation (WTO) obligation which was the basic arguments he gave to defeat his counterparts in othe
Published 06 Mar, 2012 12:00am
Negative list violation of WTO obligation: Cabinet informed

Negative list violation of WTO obligation: Cabinet informed

Federal Cabinet has reportedly been apprised by the Secretary Commerce Zafar Mahmood that India-specific negative list is a violation of the World Trade Organisation (WTO) obligation which was the basic arguments he gave to defeat his counterparts in othe
Published 06 Mar, 2012 12:00am
Negative list violation of WTO obligation: Cabinet informed

Negative list violation of WTO obligation: Cabinet informed

Federal Cabinet has reportedly been apprised by the Secretary Commerce Zafar Mahmood that India-specific negative list is a violation of the World Trade Organisation (WTO) obligation which was the basic arguments he gave to defeat his counterparts in othe
Published 06 Mar, 2012 12:00am
Regulations for exchange traded funds for KSE approved

Regulations for exchange traded funds for KSE approved

As part of its mandate to develop the capital market in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has approved regulations governing exchange traded funds (ETFs) for the Karachi Stock Exchange (KSE). The trading in ETFs at the st
Published 06 Mar, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (March 05, 2012).

Published 06 Mar, 2012 12:00am
Regulations for exchange traded funds for KSE approved

Regulations for exchange traded funds for KSE approved

As part of its mandate to develop the capital market in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has approved regulations governing exchange traded funds (ETFs) for the Karachi Stock Exchange (KSE). The trading in ETFs at the st
Published 06 Mar, 2012 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (March 05, 2012).
Published 06 Mar, 2012 12:00am
Regulations for exchange traded funds for KSE approved

Regulations for exchange traded funds for KSE approved

As part of its mandate to develop the capital market in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has approved regulations governing exchange traded funds (ETFs) for the Karachi Stock Exchange (KSE). The trading in ETFs at the st
Published 06 Mar, 2012 12:00am
Index surges 189.34 points

Index surges 189.34 points

A bullish trend continued on Karachi share market on Monday and the benchmark KSE-100 index surged by 189.34 points to close at 13,278.31 points. The market opened on strong positive note and the index breached 13,300 psychological level to hit 13,311.79
Published 06 Mar, 2012 12:00am
Index surges 189.34 points

Index surges 189.34 points

A bullish trend continued on Karachi share market on Monday and the benchmark KSE-100 index surged by 189.34 points to close at 13,278.31 points. The market opened on strong positive note and the index breached 13,300 psychological level to hit 13,311.79
Published 06 Mar, 2012 12:00am
Index surges 189.34 points

Index surges 189.34 points

A bullish trend continued on Karachi share market on Monday and the benchmark KSE-100 index surged by 189.34 points to close at 13,278.31 points. The market opened on strong positive note and the index breached 13,300 psychological level to hit 13,311.79
Published 06 Mar, 2012 12:00am
BRIndex30 gains 148.31 points

BRIndex30 gains 148.31 points

On Monday, BRIndex30 opened at 9,930.70 and remained positive throughout the trading session. It touched an intraday high of 9,999.67 and an intraday low of 10,000.03 and closed at 10,079.01 which was 148.31 points or 1.49 percent higher than previous clo
Published 06 Mar, 2012 12:00am
BRIndex30 gains 148.31 points

BRIndex30 gains 148.31 points

On Monday, BRIndex30 opened at 9,930.70 and remained positive throughout the trading session. It touched an intraday high of 9,999.67 and an intraday low of 10,000.03 and closed at 10,079.01 which was 148.31 points or 1.49 percent higher than previous clo
Published 06 Mar, 2012 12:00am
AIG to sell $6 billion in AIA stock to repay US bailout

AIG to sell $6 billion in AIA stock to repay US bailout

American International Group is selling part of its stake in AIA Group to raise about $6 billion, which will help the US insurer repay part of its government bailout. AIG is looking to sell about 1.7 billion AIA shares at HK$27.15 to HK27.50 each, accordi
Published 06 Mar, 2012 12:00am
AIG to sell $6 billion in AIA stock to repay US bailout

AIG to sell $6 billion in AIA stock to repay US bailout

American International Group is selling part of its stake in AIA Group to raise about $6 billion, which will help the US insurer repay part of its government bailout. AIG is looking to sell about 1.7 billion AIA shares at HK$27.15 to HK27.50 each, accordi
Published 06 Mar, 2012 12:00am
AIG to sell $6 billion in AIA stock to repay US bailout

AIG to sell $6 billion in AIA stock to repay US bailout

American International Group is selling part of its stake in AIA Group to raise about $6 billion, which will help the US insurer repay part of its government bailout. AIG is looking to sell about 1.7 billion AIA shares at HK$27.15 to HK27.50 each, accordi
Published 06 Mar, 2012 12:00am
AIG to sell $6 billion in AIA stock to repay US bailout

AIG to sell $6 billion in AIA stock to repay US bailout

American International Group is selling part of its stake in AIA Group to raise about $6 billion, which will help the US insurer repay part of its government bailout. AIG is looking to sell about 1.7 billion AIA shares at HK$27.15 to HK27.50 each, accordi
Published 06 Mar, 2012 12:00am
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