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Archive - 2012-03-15
ISE-10 stays bullish
Markets

ISE-10 stays bullish

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Thursday witnessed bullish trend as the index gained 16.52 points t
Published 15 Mar, 2012 05:36pm
Forex improves to $16.390bn
Top News

Forex improves to $16.390bn

KARACHI: Pakistan's liquid foreign reserves have improved by $ 54 million to more than $ 16.390 billion on March 9, 2012
Published 15 Mar, 2012 05:32pm
CDWP approves 19 schemes
Top News

CDWP approves 19 schemes

ISLAMABAD : The Central Development Working Party (CDWP) in a meeting held here on Wednesday approved 19 schemes in tran
Published 15 Mar, 2012 05:04pm
Legislators meet Rehman Malik
Top News

Legislators meet Rehman Malik

ISLAMABAD: Members of National Assembly (MNAs) on Wednesday called on Minister for Interior, Rehman Malik and informed h
Published 15 Mar, 2012 04:13pm
Interior Minister meets Fazal-ur-Rehman
Top News

Interior Minister meets Fazal-ur-Rehman

ISLAMABAD: Interior Minister Rehman Malik on Thursday held a meeting with Maulana Fazal-ur-Rehman to discuss overall sec
Published 15 Mar, 2012 04:07pm
Iraq buys 300,000 tonnes Canadian wheat
Top News

Iraq buys 300,000 tonnes Canadian wheat

HAMBURG : The state Iraq Grain Board has purchased a total 300,000 tonnes of wheat all of Canadian origin in an internat
Published 15 Mar, 2012 04:06pm
IMF approves 28bn euro loan for Greece
Top News

IMF approves 28bn euro loan for Greece

WASHINGTON: The International Monetary Fund approved a new 28 billion euro ($36.7 billion) loan for Greece on Thursday,
Published 15 Mar, 2012 04:04pm
Top Hamas official visits Tehran
Asia

Top Hamas official visits Tehran

TEHRAN: A senior Hamas figure in Gaza, Mahmud Zahar, is visiting Tehran for meetings with top Iranian officials, media r
Published 15 Mar, 2012 03:05pm
Qatar to invest 100mn euros in Bulgaria
Top News

Qatar to invest 100mn euros in Bulgaria

DOHA: Qatar plans to invest 100 million euros ($130.3 million) in agriculture, tourism and infrastructure in Bulgaria, t
Published 15 Mar, 2012 02:11pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI: Healthy buying after mid session on Thursday supported the KSE-100 index to close in positive at 13,451.07 poin
Published 15 Mar, 2012 12:52pm
Peru economic growth slows in January
Top News

Peru economic growth slows in January

LIMA: Peru's annual economic growth rate slowed more than anticipated in January due to a drop in metals and oil product
Published 15 Mar, 2012 11:28am
FBR, SECP sign information sharing MoU
Top News

FBR, SECP sign information sharing MoU

ISLAMABAD : Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP) Thursday signed a
Published 15 Mar, 2012 11:00am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Thursday until 12:30 P.M., KSE-100 Index displayed notable fluctuations between positive and negative and wa
Published 15 Mar, 2012 08:09am
NA session starts
Pakistan

NA session starts

ISLAMABAD: The 40th session of the National Assembly started here at 10:45 a.m on Thursday from recitation of the Holy Q
Published 15 Mar, 2012 07:05am
Suicide bomber kills police commander
Top News

Suicide bomber kills police commander

PESHAWAR: A suicide attack on Thursday killed a senior police officer and wounded his bodyguard in the northwestern city
Published 15 Mar, 2012 06:03am
New Zealand bowled out for 185
Cricket

New Zealand bowled out for 185

HAMILTON: New Zealand was bowled out for 185 on the opening day of the second Test against South Africa Thursday after a
Published 15 Mar, 2012 05:42am
Hong Kong shares open flat
Financial

Hong Kong shares open flat

HONG KONG: Hong Kong stocks opened flat on Thursday, following a mixed performance on European and US markets after rece
Published 15 Mar, 2012 04:45am
Telcos grow steadily
BR Research

Telcos grow steadily

The latest statistics released by the Pakistan Telecommu-nications Authority reveal that the telecom sector continues to grow, albeit at a r
Published 15 Mar, 2012 12:00am
Mighty five: make good money
BR Research

Mighty five: make good money

Thriving on a large pool of low cost deposit base, a wide reach across the country and the governments insatiable demand for funds, the larg
Published 15 Mar, 2012 12:00am
OICCI calls to document and tax all sectors of economy

OICCI calls to document and tax all sectors of economy

The Overseas Investors Chamber of Commerce Industry (OICCI) has once again stressed the need to document and tax all sectors of the economy to broaden the tax base and eradicate tax evasion.
Published 15 Mar, 2012 12:00am
AbacusConsulting sponsors mobile commerce conference 2012

AbacusConsulting sponsors mobile commerce conference 2012

The 5th International Mobile Commerce 2012 conference will be held in Karachi today. The conference is an international endeavour which witnesses strategic alliance between Sybase, an SAP company and its technology partner AbacusConsulting, both of which
Published 15 Mar, 2012 12:00am
Cellphones usage adversely impacts sale of wristwatches

Cellphones usage adversely impacts sale of wristwatches

The emergence and increasing usage of mobile phones has adversely affected the sale of wristwatches, as people preferred to keep mobile phones to remain in touch with friend and family as well as to see time. Wristwatches' shopkeepers in Sadar and Gulshan
Published 15 Mar, 2012 12:00am
IHC seeks JC report about two missing doctors

IHC seeks JC report about two missing doctors

Islamabad High Court (IHC), on Wednesday sought comprehensive report about two missing doctors till April 16 from Judicial Commission (JC) probing the missing persons' cases. A single member bench comprising Chief Justice Iqbal Hameed-ur-Rehman resumed he
Published 15 Mar, 2012 12:00am
Bank President summoned by Supreme Court

Bank President summoned by Supreme Court

The Supreme Court Wednesday summoned President National Bank of Pakistan (NBP) in a contempt of court proceedings as the bank failed to comply with the court orders pertaining to the restoration of its employees.
Published 15 Mar, 2012 12:00am
Three killed in separate incidents

Three killed in separate incidents

At least three persons were killed in separate incidents at various parts of the metropolis, here on Wednesday. According to police and rescue sources, a 60-year-old man was killed by his relative in the limits of the Sukhan police station on early Wednes
Published 15 Mar, 2012 12:00am
Jamaat-i-Islami to launch drive against amendments to Islamiat books

Jamaat-i-Islami to launch drive against amendments to Islamiat books

Jamaat-i-Islami (JI) Khyber Pakhtunkhwa has expressed grave concern over the amendments to Islamiat books and decided to launch a province-wide campaign for restoration of the old course. Speaking at a press conference at Peshawar Press Club on Wednesday,
Published 15 Mar, 2012 12:00am
BoP scam: Supreme Court issues directives

BoP scam: Supreme Court issues directives

While hearing identical petitions relating to the transfer of cases in the Bank of Punjab scam the Supreme Court issued directives to various private and official representatives to facilitate each other in the transfer of seven properties of defaulter Sh
Published 15 Mar, 2012 12:00am
District Karak: Hoti announces 100 percent raise in gas royalty

District Karak: Hoti announces 100 percent raise in gas royalty

Chief Minister Khyber Pakhtunkhwa, Ameer Haidar Khan Hoti has announced 100 percent increase in the gas royalty, establishment of separate university in district Karak. Addressing a public meeting in Karak on Wednesday, he also announced construction of 1
Published 15 Mar, 2012 12:00am
Fetus found in Gulshan Iqbal

Fetus found in Gulshan Iqbal

Despite claiming to have taken stern measures to avoid the dumping of fetuses in garbage, yet another offspring of premature baby was found in the limits of Mobina Town police station on Wednesday. According to SHO Khan Muhammad, the recovery of fetus was
Published 15 Mar, 2012 12:00am
Dr Faqir Hussain re-employed as Supreme Court Registrar

Dr Faqir Hussain re-employed as Supreme Court Registrar

Chief Justice Iftikhar Muhammad Chaudhry has re-employed Dr Faqir Hussain as Registrar (BPS-22), Supreme Court of Pakistan for a period of two years from March 25, 2012 on usual terms and conditions. According to a press release issued here on Wednesday,
Published 15 Mar, 2012 12:00am
NH&MP recovers four stolen cars

NH&MP recovers four stolen cars

National Highways and Motorway Police (NH&MP) recovered four stolen cars and also arrested the car thieves during the last week. Giving details, a spokesperson of the NH&MP said on Wednesday that in the first incident, the Motorway Police responded to an
Published 15 Mar, 2012 12:00am
Senator Ishaq Dar appointed leader of opposition in upper house

Senator Ishaq Dar appointed leader of opposition in upper house

Pakistan Muslim League-Nawaz (PML-N) Senator Ishaq Dar has been appointed leader of the opposition in upper house of parliament. According to Senate Secretariat, Chairman Senate Nayyar Hussain Bokhari has declared Senator Ishaq Dar as the new Leader of Op
Published 15 Mar, 2012 12:00am
PML-N contemplating legal action against Yunus Habib

PML-N contemplating legal action against Yunus Habib

Pakistan Muslim League Nawaz (PML-N) is contemplating a legal action against Younus Habib. This was stated by Shahbaz Sharif Chief Minister Punjab in a press conference here Wednesday. Shahbaz Sharif describing the allegations of Younus Habib as a pack of
Published 15 Mar, 2012 12:00am
Chaudhry Nisar appreciates Sweden's support for democracy

Chaudhry Nisar appreciates Sweden's support for democracy

The Leader of the Opposition in the National Assembly, Chaudhary Nisar Ali Khan has appreciated Sweden's support for democracy, human rights and good governance in Pakistan. He made these remarks during his meeting with Carl Bildt, the Swedish Foreign Min
Published 15 Mar, 2012 12:00am
Prime Minister lauds services of outgoing Air Chief Rao Qamar Suleman

Prime Minister lauds services of outgoing Air Chief Rao Qamar Suleman

Prime Minister Syed Yousuf Raza Gilani has said that the input of political leadership on challenges posed to national security is a decisive component of a holistic national security paradigm. The prime minister said this at dinner reception arranged for
Published 15 Mar, 2012 12:00am
Website regarding dengue launched

Website regarding dengue launched

On the direction of Punjab Chief Minister Punjab Muhammad Shahbaz Sharif, the administration of Lahore General Hospital has launched a website regarding dengue. The address of the site is www.lgh.org.pk/dengue.html, which also produces a face book link ha
Published 15 Mar, 2012 12:00am
Noose tightens around Iranian oil exports

Noose tightens around Iranian oil exports

The United States is pressing Saudi Arabia to increase oil output with a view to filling a likely supply gap arising from sanctions on Iran. It has been reported that there were talks held between Saudi and the US and the US asked if Saudi Arabia could be
Published 15 Mar, 2012 12:00am
Notorious defiance

Notorious defiance

On the face of it, Prime Minister Gilani has authored his own political obituary. His talk to the print media persons in Lahore on Sunday is too defiant in tone and his argument too outlandish to merit further pleading of innocence by his counsel Aitzaz A
Published 15 Mar, 2012 12:00am
VIEW POINT: Syria at the brink

VIEW POINT: Syria at the brink

According to UN sources, the Syrian regime has killed over 7,500 people in a year-long bloody crackdown on pro-reform protesters and resistance fighters; others put the figure at 8000. The worst atrocities were committed in Homs - not far from Hama where
Published 15 Mar, 2012 12:00am
Poverty, unemployment and distribution of income

Poverty, unemployment and distribution of income

Poverty and unemployment misbalance the economic scene of a state. Poverty is directly responsible for the crime in society and it blocks the creative edge. The state, nevertheless plays an important role in the alleviation of poverty and the creation of
Published 15 Mar, 2012 12:00am
Belgium and Switzerland shocked by bus tragedy

Belgium and Switzerland shocked by bus tragedy

On Wednesday morning, parents in two Belgian towns had expected to welcome back their children after a skiing trip to Switzerland. But the coach with 46 children never arrived. People in Belgium and Switzerland reacted with shock as news spread that the b
Published 15 Mar, 2012 12:00am
Political dacoity

Political dacoity

Disclosures about Mehrangate scandal are horrible like the ones revealed by the one-time Mehran Bank chief, Yunus Habib, that expose the dirty game played hand in glove by agencies' superiors and some politicians whose combined aim was ensuring the ouster
Published 15 Mar, 2012 12:00am
OSP organises workshop on 'Optical Coherence Tomography'

OSP organises workshop on 'Optical Coherence Tomography'

Ophthalmologists Society of Pakistan (OSP) as a part of pre-conference workshop of Karophth 2012 organised a workshop on "Optical Coherence Tomography (OCT)" on Wednesday at Patel Hospital, Karachi. The speakers of the workshop included, Dr Idrees Ehdi, D
Published 15 Mar, 2012 12:00am
Pak-German joint venture for International Exhibitions in Pakistan

Pak-German joint venture for International Exhibitions in Pakistan

Pegasus Consultancy, a leading exhibitions and event management company of Pakistan, has joined hands with FairtradeMesse of Germany having 20 years of experience in organising international exhibitions and conferences in various countries like Germany, R
Published 15 Mar, 2012 12:00am
'Trade volume to be increased after FTA with Turkey'

'Trade volume to be increased after FTA with Turkey'

Murat M. Onart Consul General of Turkey while addressing at the Hyderabad Chamber of Commerce and Industry here on Wednesday said that he is thankful for the invitation and hospitality extended to him for his visit to Hyderabad Chamber. He said that it is
Published 15 Mar, 2012 12:00am
Prgmea concerned over customs agents strike

Prgmea concerned over customs agents strike

Exporters have concerned over the ongoing customs agents strike caused delaying shipments of consignment. The Central and South Zone Chairmen of Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea), Shehzad Salim and Atiq Kochra ha
Published 15 Mar, 2012 12:00am
Easypaisa, Adamjee to launch free life insurance plan

Easypaisa, Adamjee to launch free life insurance plan

Tameer Bank and Adamjee Life Assurance on Wednesday singed a contract to formalise the partnership to launch a free life insurance plan to the Easypaisa subscribers, at a local hotel. For the first time in Pakistan, Easypaisa is set to launch a free life
Published 15 Mar, 2012 12:00am
Role of IT in economic growth highlighted

Role of IT in economic growth highlighted

Acting Vice Chancellor University of Sindh Professor Dr Parveen Shah has said that information technology plays a vital role in the growth of economy and education all over world. She stated while inaugurating one-day project exhibition developed by the f
Published 15 Mar, 2012 12:00am
Indian guru wants Taliban to de-stress

Indian guru wants Taliban to de-stress

An Indian Hindu guru may be the last emissary the Taliban expect, but Sri Ravi Shankar would love to teach inner peace to Pakistani Taliban. Visiting Pakistan for the first time in eight years, he basks in the diplomatic rapprochement that made the trip p
Published 15 Mar, 2012 12:00am
SU holds Naat competition

SU holds Naat competition

The Bureau of Students Tutorial, Guidance/Counselling Services and Co-curricular Activities (STAGS) University of Sindh organised inter-department Naat Competition at Shaikh Ayaz Auditorium of the Faculty of Arts on Wednesday. 37 students from various tea
Published 15 Mar, 2012 12:00am
Workshop

Workshop

To share the knowledge and experiences of mango export gained under Australia-Pakistan Agriculture Sector Linkages Program (ASLP) Mango Supply Chain Management Project a Mango Stakeholders Workshop for all the stakeholders including growers, contractors,
Published 15 Mar, 2012 12:00am
DG KHAN CEMENT

DG KHAN CEMENT

Dera Ghazi Khan Cement (DGKC) is one of the powerhouses in the Pakistani cement industry. With commercial production beginning in 1986 at 2,000 tonnes per day, the Company has continually grown over the past 26 years to become one of the biggest players i
Published 15 Mar, 2012 12:00am
DG KHAN CEMENT

DG KHAN CEMENT

Dera Ghazi Khan Cement (DGKC) is one of the powerhouses in the Pakistani cement industry. With commercial production beginning in 1986 at 2,000 tonnes per day, the Company has continually grown over the past 26 years to become one of the biggest players i
Published 15 Mar, 2012 12:00am
People of Sindh united for uplift of the province: Altaf

People of Sindh united for uplift of the province: Altaf

Muttahida Qaumi Movement (MQM) chief Altaf Hussain has warned the elements conspiring against Pakistan to stop their conspiracies immediately. He said that the country was passing through difficult circumstances and if the conspiracies were allowed to con
Published 15 Mar, 2012 12:00am
Devolution plan 80 percent of work completed, says Rabbani

Devolution plan 80 percent of work completed, says Rabbani

Federal Minister for Inter-Provincial Co-ordination and Chairman Implementation Commission of 18th Constitutional Amendment, Senator Raza Rabbani said on Wednesday more than 80 percent implementation work had been completed on the devolution plan under th
Published 15 Mar, 2012 12:00am
Jamaat-i-Islami condemns Clinton's statement

Jamaat-i-Islami condemns Clinton's statement

Secretary General, Jamaat-e-Islami, Liaqat Baloch, has condemned US Secretary of State Hillary Clinton's statement concerning Pakistan and described it an open threat to the country. Liaqat Baloch deplored that our rulers were kept silence on all threats
Published 15 Mar, 2012 12:00am
US MIDDAY: gold tumbles again

US MIDDAY: gold tumbles again

Gold fell 2 percent in a second straight decline on Wednesday, hit by technical selling and investors quitting bullion trades a day after the Federal Reserve upgraded its US economic outlook. The 5 percent or $80 slide over two days has removed the premiu
Published 15 Mar, 2012 12:00am
US MIDDAY: copper sinks

US MIDDAY: copper sinks

In New York, the May COMEX contract fell by 5.45 cents, or 1.4 percent, to settle at $3.8480 per lb on Wednesday, near the bottom end of its $3.8335 to $3.9180 session range. The loss dragged COMEX copper prices back toward the middle of a well-worn range
Published 15 Mar, 2012 12:00am
US MIDDAY: soya climbs

US MIDDAY: soya climbs

US soyabean futures climbed for a second consecutive session on Wednesday and hit a 5-1/2 month high as a drought-reduced South American crop and port congestion was expected to bolster demand for thinning US supplies this summer. Fund buying and chart-ba
Published 15 Mar, 2012 12:00am
Gold falls to lowest since mid-January

Gold falls to lowest since mid-January

Gold hit its lowest since mid-January on Wednesday after a modest upgrade of the US Federal Reserve's economic outlook added zip to the dollar and gave investors an excuse to lighten holdings of bullion. The Fed gave few clues on prospects for further mon
Published 15 Mar, 2012 12:00am
Gold falls two percent in New York

Gold falls two percent in New York

Gold fell about 2 percent on Tuesday to a seven-week low after the Federal Reserve acknowledged the recent signs of economic strength and offered few clues on further US monetary easing. The metal has fallen 7 percent since late February as some funds mig
Published 15 Mar, 2012 12:00am
Gold slips in Asia

Gold slips in Asia

Gold fell for a third day on Wednesday as investors switched to equities after the US Federal Reserve vowed to keep interest rates low until 2014, while platinum prices held at premiums to bullion on lingering worries about supply disruption. Gold hit an
Published 15 Mar, 2012 12:00am
Coffee and cocoa ease

Coffee and cocoa ease

ICE arabica coffee dipped but held above a recent 17-month low on Wednesday as a stronger dollar and expectations of a large Brazilian crop weighed on prices, while US cocoa futures also retreated on currency pressure. Raw sugar futures bucked the day's w
Published 15 Mar, 2012 12:00am
Soya rallies

Soya rallies

US Soyabean futures jumped more than 1 percent on Tuesday and closed at their highest in 5-1/2 months on renewed worries of tighter supplies in the wake of drought in South America's crop belt. Traders also bought Soyabeans and sold corn after active unwi
Published 15 Mar, 2012 12:00am
Palm oil climbs

Palm oil climbs

Malaysian crude palm oil futures rose to a nine-month high on Wednesday as recovering exports raised demand prospects for the edible oil and upbeat US economic data lifted investor confidence. An improvement in Malaysian exports for the first ten days of
Published 15 Mar, 2012 12:00am
Tokyo rubber slips

Tokyo rubber slips

Tokyo rubber futures slipped on Wednesday on profit-taking after prices failed to break above the 350 yen level, but the market was still supported by firm oil prices and limited supply in producing countries, dealers said. The benchmark rubber contract o
Published 15 Mar, 2012 12:00am
Oil falls on US stock build, Iran eyed

Oil falls on US stock build, Iran eyed

Oil futures dropped on Wednesday after data showed US crude stockpiles rose last week for the fourth time in a row and the dollar strengthened, tempering investor appetite for riskier assets. Trading was choppy but prices clawed back briefly in the early
Published 15 Mar, 2012 12:00am
Copper slips

Copper slips

Copper fell about 1 percent on Wednesday, falling from a one-week high hit in the previous session as uncertainty about the outlook for demand from top consumer China weighed on sentiment, with a strong dollar adding pressure to base metals prices. Benchm
Published 15 Mar, 2012 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper remained at a discount of nearly 2,500 yuan a tonne versus LME, making imports profitable on Wednesday. The most-traded June copper contract on the Shanghai Futures Exchange lost 0.8 percent to 60,530 yuan ($9,600) a tonne.
Published 15 Mar, 2012 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures finished lower on Wednesday on investor sales but trade and consumer buying helped the market rebound from a keyy support area, analysts said The benchmark May contract on ICE Futures US fell 0.90 cent to finish at 87.14 cents per lb, deali
Published 15 Mar, 2012 12:00am
Brazil unveils first court case for dictatorship crimes

Brazil unveils first court case for dictatorship crimes

Brazilian prosecutors Tuesday unveiled the first court case for crimes committed during the two-decade military dictatorship, charging an army colonel over five unresolved kidnappings. Army colonel Sebastiao Curio Rodrigues de Moura, better known as "Dr L
Published 15 Mar, 2012 12:00am
Syria violence rages; Annan seeks Assad' answers

Syria violence rages; Annan seeks Assad' answers

Forces loyal to President Bashar al-Assad attacked rebel strongholds in various parts of Syria on Wednesday, intensifying their assault as the uprising entered its second year with a negotiated solution as far off as ever. The UN-Arab League envoy, Kofi A
Published 15 Mar, 2012 12:00am
Briton, two US citizens charged in Iraq kickback scheme

Briton, two US citizens charged in Iraq kickback scheme

Three men, including a British citizen, were charged on Tuesday with conspiring to defraud the US government over a kickback scheme involving contracts for ammunition disposal in Iraq, the US Justice Department said Tuesday. Briton Ahmed Sarchil Kazzaz an
Published 15 Mar, 2012 12:00am
Santorum wins big in South

Santorum wins big in South

Republican Rick Santorum won a pair of crucial Deep South primaries on Tuesday, taking control of the party's conservative wing in the presidential race and dealing a severe setback to rival Newt Gingrich. Santorum narrowly defeated Gingrich and front-run
Published 15 Mar, 2012 12:00am
Ahmadinejad grilled by hostile Iran parliament

Ahmadinejad grilled by hostile Iran parliament

Iranian President Mahmoud Ahmadinejad was summoned to parliament on Wednesday for an unprecedented grilling by lawmakers who accused him of economic mismanagement and making "illegal" appointments. Less than two weeks after a drubbing in parliamentary ele
Published 15 Mar, 2012 12:00am
UK plans tighter rules on executive pay

UK plans tighter rules on executive pay

Britain would give investors in UK-listed companies binding annual votes on executive pay and exit payments under proposed new laws designed to strengthen the link between wages and performance, the government said on Wednesday. Seeking to ease public ang
Published 15 Mar, 2012 12:00am
Shooting at Texas courthouse, one dead

Shooting at Texas courthouse, one dead

A shooting at a Texas courthouse left at least one person dead and three others wounded but the suspect is in custody after trying to take people hostage, local media reported Wednesday. A dispatcher at the Beaumont, Texas police station contacted by AFP
Published 15 Mar, 2012 12:00am
CPJ urges Karzai to end intimidation of reporters

CPJ urges Karzai to end intimidation of reporters

In a letter to Afghan President Hamid Karzai, the Committee to Protect Journalists asked that he address the problem of the government's intimidation of reporters. On March 10, a Ministry of Defence statement denounced a Wall Street Journal reporter who w
Published 15 Mar, 2012 12:00am
BBC suffers cyber-attack following Iran campaign

BBC suffers cyber-attack following Iran campaign

The BBC has suffered a sophisticated cyber-attack following a campaign by Iranian authorities against its Persian service, director-general Mark Thompson said on Wednesday. Thompson also reported attempts to jam satellite feeds of the British Broadcasting
Published 15 Mar, 2012 12:00am
US dangles secret data for Russia missile shield OK

US dangles secret data for Russia missile shield OK

The Obama administration is leaving open the possibility of giving Moscow certain secret data on US interceptor missiles due to help protect Europe from any Iranian missile strike. A deal is being sought by Washington that could include classified data ex
Published 15 Mar, 2012 12:00am
China passes controversial criminal law changes

China passes controversial criminal law changes

Chinese lawmakers on Wednesday passed into law controversial changes that give the police powers to detain some suspects for up to six months in secret locations known as "black jails". Detentions in unofficial locations such as hotels or guesthouses in C
Published 15 Mar, 2012 12:00am
28 die in school trip coach crash in Switzerland

28 die in school trip coach crash in Switzerland

Distraught families of victims of a horrific school bus crash in a Swiss Alpine tunnel that killed 28 people flew to the scene Wednesday, still unaware if their children were alive or dead. The coach bringing 46 children and four teachers back to Belgium
Published 15 Mar, 2012 12:00am
Former official accused in Philippine journalist's murder

Former official accused in Philippine journalist's murder

The Philippine Department of Justice has reviewed evidence in the 2011 murder of journalist Gerardo Ortega and recommended that murder charges be filed against ex-governor Joel Reyes in the local courts, news reports said. The department reversed its deci
Published 15 Mar, 2012 12:00am
Helicopter crash kills Nigeria's deputy police chief

Helicopter crash kills Nigeria's deputy police chief

A police helicopter crashed in central Nigeria on Wednesday, killing the country's deputy police chief and three other police officers, authorities and witnesses said. "The Nigeria Police wishes to announce the death of DIG (deputy director general) Harun
Published 15 Mar, 2012 12:00am
Australian and New Zealand dollars struggle

Australian and New Zealand dollars struggle

The Australian and New Zealand dollars struggled to make any headway against a broadly firmer greenback on Wednesday, but held gains on the safe-haven yen after upbeat US data sparked a surge in Asian stocks. This saw the Aussie dollar idle at $1.0538 in
Published 15 Mar, 2012 12:00am
Euribor contracts slip

Euribor contracts slip

Euribor futures contracts fell on Wednesday, pricing in higher eurozone interest rates over the long term after a slightly more upbeat economic assessment from the US Federal Reserve caused investors to rethink their rate outlook. The Euribor curve steepe
Published 15 Mar, 2012 12:00am
Most emerging Asian currencies down

Most emerging Asian currencies down

Most emerging Asian currencies fell on Wednesday as the Federal Reserve refrained from offering signals on more policy easing, with the Malaysian ringgit trying to clear support, although regional units found relief from strong stocks. Expectation of yuan
Published 15 Mar, 2012 12:00am
Indian rupee ends up

Indian rupee ends up

The Indian rupee ended marginally stronger on Wednesday aided by dollar inflows into local shares, though importers' demand for the greenback prevented a sharper rise. "The market will look for the fiscal deficit figure keenly (in the budget), because for
Published 15 Mar, 2012 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc slipped to a four-week low against the dollar, which rose against major currencies after a fairly upbeat economic outlook from the Federal Reserve dampened expectations for a further US round of quantitative easing. The franc fell 0.4 perc
Published 15 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 Wednesday. 81.75-81.80 (previous 81.76-81.79). Call Money Rates: 11.00-13.50 percent (previous 07.00-14.00 percent).
Published 15 Mar, 2012 12:00am
Dollar gains in New York

Dollar gains in New York

The dollar hit an 11-month high against the yen and a one-month peak versus the euro on Tuesday as a modest brightening of the Federal Reserve's economic outlook had investors downplaying expectations of future stimulus measures. The Fed provided few clue
Published 15 Mar, 2012 12:00am
Early trade in New York: dollar continues upward trend

Early trade in New York: dollar continues upward trend

The dollar reached an 11-month high against the yen and a one-month high against the euro on Wednesday in a continued afterglow after the Federal Reserve on Tuesday upgraded its economic outlook amid a string of US data indicating a sustainable recovery.
Published 15 Mar, 2012 12:00am
Dollar strengthens broadly

Dollar strengthens broadly

The dollar hit an 11-month high against the yen and one-month high versus the euro on Wednesday and more gains were expected after an upgraded Federal Reserve economic outlook and firmer US data dented the greenback's appeal as a funding currency. US two-
Published 15 Mar, 2012 12:00am
Dollar extends gains in Asia

Dollar extends gains in Asia

The dollar hit an 11-month high against the yen and 1-month high on the euro on Wednesday, extending its gains after a modest brightening of the Federal Reserve's economic forecasts nudged traders to downplay expectations of further monetary easing.
Published 15 Mar, 2012 12:00am
Pound rises versus euro

Pound rises versus euro

Sterling rose to a one-month high against the euro on Wednesday, lifted by a better relative outlook for the UK economy, though it edged lower after data showing a rise in UK unemployment. The pound has been buoyed by a recent improvement in UK economic d
Published 15 Mar, 2012 12:00am
Yuan ends down

Yuan ends down

The yuan closed lower versus the dollar on Wednesday, weakening 0.61 percent this month as the People's Bank of China (PBOC) pushed forward with more active two-way trading of the Chinese currency via its mid-point. While the PBOC has talked about a widen
Published 15 Mar, 2012 12:00am
Miners drag FTSE into red

Miners drag FTSE into red

Britain's top share index retreated on Wednesday, having flirted with the 6,000 level due to a more promising global economic outlook and robust earnings, with heavily weighted miners hit by concerns over Chinese demand After five successive days of gains
Published 15 Mar, 2012 12:00am
European stocks rally

European stocks rally

European stocks ended higher on Wednesday, with benchmarks closing at levels not seen since August, after a drop in Italy's borrowing costs at an auction and a brighter forecast from the US Federal Reserve fuelled the market's brisk week-long rally. Sharp
Published 15 Mar, 2012 12:00am
Seoul stocks climb to seven-month high

Seoul stocks climb to seven-month high

Seoul shares rose nearly 1 percent to close at a fresh 7-month high on Wednesday, buoyed by financials after US stocks posted their best day of the year on upbeat retail sales data and an improved economic outlook from the Federal Reserve. The Korea Compo
Published 15 Mar, 2012 12:00am
Hong Kong and China shares slump

Hong Kong and China shares slump

Shanghai shares posted their biggest daily loss this year on Wednesday, dragging Hong Kong markets into the red, after Premier Wen Jiabao doused hopes of easing in the property sector at the close of China's annual parliamentary meeting. Property stocks i
Published 15 Mar, 2012 12:00am
Indian shares climb

Indian shares climb

A rally in banking shares powered Indian shares to their highest close in almost three weeks on Wednesday on speculation the central bank may still deliver a surprise rate cut this week after a key sub-measure of inflation cooled. Although headline inflat
Published 15 Mar, 2012 12:00am
Southeast Asian stocks up; Manila shares at record high

Southeast Asian stocks up; Manila shares at record high

Southeast Asian stocks climbed on Wednesday, with Philippine shares setting a record high, as upbeat US economic data helped stoke appetite for risk and demand for growth stocks lifted consumer and banking shares. The Philippine index finished up 0.9 perc
Published 15 Mar, 2012 12:00am
Treasury yields climb

Treasury yields climb

Benchmark US Treasury yields hit their highest level this year on Tuesday after stronger retail sales, gains in equities and the Federal Reserve's acknowledgement of signs of strength in the economy eroded the safe-haven allure of US debt. The US central
Published 15 Mar, 2012 12:00am
Treasury yields climb

Treasury yields climb

Benchmark US Treasury yields hit their highest level this year on Tuesday after stronger retail sales, gains in equities and the Federal Reserve's acknowledgement of signs of strength in the economy eroded the safe-haven allure of US debt. The US central
Published 15 Mar, 2012 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended 1.17 percent higher on Wednesday, lifted by defensive plays such as glass and ceramics and car makers, though LCD maker AU Optronics fell 3.15 percent after a US jury found it guilty of criminal price-fixing. The main TAIEX index rose
Published 15 Mar, 2012 12:00am
US stocks post best day this year

US stocks post best day this year

The US stock market posted its best day this year, with Tuesday's late spark coming from J.P. Morgan Chase & Co after the bank announced it will raise its dividend. J.P. Morgan's news preceded the Federal Reserve's release of results from its latest stres
Published 15 Mar, 2012 12:00am
Wednesday's midday trade: S&P 500 flirts with 1,400, then dips

Wednesday's midday trade: S&P 500 flirts with 1,400, then dips

The S&P 500 knocked on 1,400 before edging lower on Wednesday as investors digested the previous session's rally on the US Federal Reserve comments on the economy and the banking sector. Apple Inc shares, up 2.5 percent at $582.52, posted a sixth straight
Published 15 Mar, 2012 12:00am
Nikkei closes above 10,000

Nikkei closes above 10,000

Japan's Nikkei average climbed 1.5 percent to close above 10,000 for the first time in seven months on Wednesday, boosted by Wall Street gains after the Fed upgraded its US economic outlook, while Tokyo shares received a further lift from a weaker yen. Ex
Published 15 Mar, 2012 12:00am
Bargain hunters lift Egyptian stocks; Gulf bourses up

Bargain hunters lift Egyptian stocks; Gulf bourses up

Egyptian stocks rallied on Wednesday after their biggest losing streak in months created fresh buying opportunities, and most Gulf markets also rose, supported by an upbeat global backdrop. Cairo's main index rose 0.8 percent, lifting from Tuesday's three
Published 15 Mar, 2012 12:00am
Developed economies to pick up steam in 2012

Developed economies to pick up steam in 2012

Developed economies will pick up steam this year thanks to an array of ultra-loose monetary policies from major central banks and amid new signs of progress in the euro zone's debt crisis, Reuters polls found. The surveys of over 250 economists, taken in
Published 15 Mar, 2012 12:00am
Inflation weighs on eurozone, factories recover

Inflation weighs on eurozone, factories recover

Energy prices drove up the cost of living in the euro zone in February, likely to drag on a still-stagnant economy and dampening any sense of relief that Europe's debt crisis is easing. Energy costs were 9.5 percent higher in February than the same month
Published 15 Mar, 2012 12:00am
Company pays $500 million in New York corruption probe

Company pays $500 million in New York corruption probe

A giant scientific and engineering contractor caught up in one of New York's biggest ever city corruption probes has agreed to cough up just over $500 million in restitution, prosecutors said Wednesday. Science Applications International Corp (SAIC), whic
Published 15 Mar, 2012 12:00am
Cathay Pacific net profit plunges 61 percent

Cathay Pacific net profit plunges 61 percent

Cathay Pacific on Wednesday said its 2011 net profit plunged 61 percent as it struggled with high fuel prices as well as softening demand for its cargo business, and warned of a challenging 2012. The Hong Kong flag carrier said it earned HK$5.5 billion ($
Published 15 Mar, 2012 12:00am
Eurozone approves nearly $52 billion in Greek bailout cash

Eurozone approves nearly $52 billion in Greek bailout cash

The eurozone approved Wednesday the first wave of loans for Greece under a heavily-conditioned second bailout, Luxembourg Prime Minister Jean-Claude Juncker said. "Euro area member states have today formally approved the second adjustment programme for Gr
Published 15 Mar, 2012 12:00am
German cabinet approves eurozone firewall

German cabinet approves eurozone firewall

German Chancellor Angela Merkel's cabinet on Wednesday agreed a draft law approving the eurozone's firewall to tackle the debt crisis, which is due to come into force in July. The fund, the European Stability Mechanism (ESM), is officially capped at 500 b
Published 15 Mar, 2012 12:00am
China's Wen bets final year on reform push

China's Wen bets final year on reform push

China must embrace slower growth and bolder political reform to keep its economy from faltering and to spread wealth more evenly, Premier Wen Jiabao said on Wednesday, vowing to use his last year in power to attack mounting discontent that he warned could
Published 15 Mar, 2012 12:00am
US import prices rise; account deficit widens

US import prices rise; account deficit widens

US import prices rose in February on sharply higher oil costs, but there were few other signs of imported inflation pressure and food prices posted their largest decline in three years. Import prices rose 0.4 percent after a downwardly revised flat readin
Published 15 Mar, 2012 12:00am
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