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Archive - 2012-03-16
MQM to see extortionists eliminated
Top News

MQM to see extortionists eliminated

HYDERABAD: The Deputy Convener Muttahida Quami Movement and Federal Minister for Overseas Pakistanis Dr. Farooq Sattar h
Published 16 Mar, 2012 04:29pm
Bukhari agrees to represent Haqqani
Top News

Bukhari agrees to represent Haqqani

KARACHI : F ormer Pakistan ambassador to the US Husain Haqqani's counsel Zahid Bukhari, after being coerced, agreed to
Published 16 Mar, 2012 03:09pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI: The investors on Friday opted for profit taking on available margins and the benchmark KSE-100 index declined b
Published 16 Mar, 2012 02:57pm
Gold stays at Rs49,285
Markets

Gold stays at Rs49,285

KARACHI: Gold closed unchanged at Rs49,285 per 10 grams in the local market Friday as its international price dropped to
Published 16 Mar, 2012 01:42pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI: On Friday, KSE-100 Index remained red for most of the trading session with a downward trend and closed at 13,29
Published 16 Mar, 2012 01:21pm
Shares and dollar firmer; oil rebounds
Top News

Shares and dollar firmer; oil rebounds

LONDON: European stocks hit their highest level since July on Friday, keeping the benchmark global equity index near a 7
Published 16 Mar, 2012 11:44am
Plastic printing exhibition at Expo
Top News

Plastic printing exhibition at Expo

LAHORE : The inaugural ceremony of three-day 8th International plastic printing and packaging Industry & International F
Published 16 Mar, 2012 10:54am
Kabul helicopter crash kills 14
Asia

Kabul helicopter crash kills 14

KABUL: A Turkish helicopter crashed into a house on the outskirts of Kabul on Friday, killing 12 Turkish soldiers and tw
Published 16 Mar, 2012 10:22am
Ukraine to cut sugar output in 2012
Top News

Ukraine to cut sugar output in 2012

KIEV: Ukraine is likely to reduce its white sugar production by 14 percent to about 2 million tonnes in 2012 due to a sm
Published 16 Mar, 2012 09:43am
Apple fans snap up new iPad
Industry

Apple fans snap up new iPad

TOKYO: Apple die-hards in Asia became the first to snap up the new iPad Friday, but compared with the scramble at the fi
Published 16 Mar, 2012 08:05am
Tokyo shares edge up
Financial

Tokyo shares edge up

TOKYO: Late bargain hunting squeezed Tokyo stocks just into positive territory on Friday, with the main index closing up
Published 16 Mar, 2012 07:07am
Singapore economy to grow 2.5pc in 2012
Top News

Singapore economy to grow 2.5pc in 2012

SINGAPORE: Singapore's economy will expand 2.5 percent in 2012, slowing from 4.9 percent last year due to lower growth i
Published 16 Mar, 2012 06:36am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Friday end of first half, KSE-100 Index remained red for most of the trading session and was at 13,392.71 wi
Published 16 Mar, 2012 05:21am
ICI: Gas woes erode bottom line
BR Research

ICI: Gas woes erode bottom line

The most brutal gas shortage of Pakistans history made 2011 a nightmare for ICI Pakistan. The chemical maker that already had to face unstab
Published 16 Mar, 2012 12:00am
Gold bounces in Asia

Gold bounces in Asia

Gold regained some strength on Thursday after a drop in the previous session attracted bargain hunters, but a strong dollar and fading expectations of more monetary easing in the United States made the metal vulnerable to more selling. Spot gold hit an in
Published 16 Mar, 2012 12:00am
Gold tumbles in New York

Gold tumbles in New York

Gold fell more than 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 and offered few clues on further easing. The 5 percent
Published 16 Mar, 2012 12:00am
Cocoa tumbles

Cocoa tumbles

Cocoa futures tumbled more than 5 percent to a one-month low in heavy volume on Thursday, after a forecast of a larger-than-expected global surplus triggered automatic sell orders. Sugar moved sharply in the other direction, soaring more than 3 percent af
Published 16 Mar, 2012 12:00am
Palm oil rises

Palm oil rises

Malaysian crude palm oil futures edged up to another nine-month high on Thursday, as strong export numbers painted a rosy demand outlook for the edible oil and as soybean supply fears in South America supported prices. An improvement in Malaysian exports
Published 16 Mar, 2012 12:00am
Soya hits 5-1/2 month high

Soya hits 5-1/2 month high

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 16 Mar, 2012 12:00am
Tokyo rubber down 1.2 percent

Tokyo rubber down 1.2 percent

Tokyo rubber futures ended 1.2 percent lower on Thursday as a recent rally ran out of steam but losses were limited by firm oil prices and falling supply in the physical market, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange f
Published 16 Mar, 2012 12:00am
Oil falls as US, UK plan oil reserve release

Oil falls as US, UK plan oil reserve release

Crude prices fell by $2 a barrel on Thursday after Reuters reported that the United States and Britain were preparing a release from strategic oil reserves this year. Two UK sources told Reuters that Britain has agreed to cooperate with the United States
Published 16 Mar, 2012 12:00am
Copper gains on US data

Copper gains on US data

Copper prices rose on Thursday, bolstered by upbeat jobs data in the United States, the world's largest economy, but concerns about the outlook for demand from top consumer China weighed on sentiment and limited gains. Benchmark copper on the London Metal
Published 16 Mar, 2012 12:00am
Shanghai copper down

Shanghai copper down

The most-traded June copper contract on the Shanghai Futures Exchange closed down 0.2 percent at 60,420 yuan a tonne on Thursday as a strong dollar held sentiment in check while concerns about a slow recovery in demand in China also weighed on the market.
Published 16 Mar, 2012 12:00am
New York cotton closes touch firmer

New York cotton closes touch firmer

Cotton futures ended higher on Thursday due to investor demand and stronger outside markets, but lingering fears about the economic outlook kept the advance on a tight leash, analysts said. The benchmark May contract on ICE Futures US rose 0.20 cent to fi
Published 16 Mar, 2012 12:00am
Two soldiers killed in France shooting

Two soldiers killed in France shooting

Two French soldiers were killed and another seriously wounded in a drive-by shooting near a military base in the south-western city of Montauban on Thursday, a state official told AFP. The locally based official said the shooting took place around 2:10 pm
Published 16 Mar, 2012 12:00am
Top Hamas official visits Tehran

Top Hamas official visits Tehran

A senior Hamas figure in Gaza, Mahmud Zahar, is visiting Tehran for meetings with top Iranian officials, media here reported on Thursday. Zahar's trip was taking place shortly after Gaza militants and Israel agreed a fragile truce that ended four days of
Published 16 Mar, 2012 12:00am
Environmental crunch worse than thought: OECD

Environmental crunch worse than thought: OECD

Pressures on Earth's ecosystem are now so great that future generations could be doomed to falling living standards, the OECD said on Thursday in a report looking to the mid-century. "Providing for a further two billion people by 2050 and improving the li
Published 16 Mar, 2012 12:00am
Rail fare row plunges Indian government into new crisis

Rail fare row plunges Indian government into new crisis

The Indian government was plunged into yet another crisis on Thursday by a rebellion within its own ranks over a proposed rise in rail fares, underscoring its inability to take unpopular steps and frailty in the face of querulous coalition allies.
Published 16 Mar, 2012 12:00am
South Korea's Shin wins Asia's top literary award

South Korea's Shin wins Asia's top literary award

South Korean author Kyung-sook Shin won Asia's most prestigious prize for literature on Thursday for her novel about a family's guilty soul-searching after the disappearance of their elderly mother.
Published 16 Mar, 2012 12:00am
Pro-Assad rallies mark anniversary of Syria revolt

Pro-Assad rallies mark anniversary of Syria revolt

Flag-waving crowds took to the streets of Syrian cities on Thursday in an orchestrated show of loyalty to President Bashar al-Assad on the first anniversary of an increasingly bloody revolt against his rule.
Published 16 Mar, 2012 12:00am
Iranians named by India for Israel attack

Iranians named by India for Israel attack

Three Iranians have been named by Indian police as the main suspects in an attack on an Israeli diplomat in New Delhi in February, reports said on Thursday. The men entered the country on tourists visas and left after the bombing in the centre of the Indi
Published 16 Mar, 2012 12:00am
Europe's chief scientist warns against climate delays

Europe's chief scientist warns against climate delays

The European Union cannot use the economic slowdown as an excuse to delay action on fighting climate change, the bloc's first-ever chief scientific adviser has warned. Molecular biologist Anne Glover took on the newly created role reporting to European Co
Published 16 Mar, 2012 12:00am
North Korea's Kim tells military to 'wipe out' enemies

North Korea's Kim tells military to 'wipe out' enemies

North Korea's new leader Kim Jong-Un has overseen an attack drill and ordered the military to "mercilessly wipe out" their enemies in case of war, Pyongyang's official news agency said Thursday. The agency in a report dated Wednesday did not say when or w
Published 16 Mar, 2012 12:00am
Japan indicts Chinese trawlerman at centre of spat

Japan indicts Chinese trawlerman at centre of spat

Japan on Thursday indicted a Chinese trawlerman whose ramming of two Japanese coastguard vessels sparked a diplomatic showdown, in a symbolic move that was likely to fizzle out. The formal indictment came after an independent review panel overturned a dec
Published 16 Mar, 2012 12:00am
"Positive Role Models Crucial To Motivate Youth," Dr Hafeez Pasha

"Positive Role Models Crucial To Motivate Youth," Dr Hafeez Pasha

"The decay of values in our society is a reflection of the state of the educational system," says renowned economist Hafeez Pasha. Recently conferred with the Engro Excellence Award for lifetime achievement in the field of economics, Pasha sat down with B
Published 16 Mar, 2012 12:00am
"Positive Role Models Crucial To Motivate Youth," Dr Hafeez Pasha

"Positive Role Models Crucial To Motivate Youth," Dr Hafeez Pasha

"The decay of values in our society is a reflection of the state of the educational system," says renowned economist Hafeez Pasha. Recently conferred with the Engro Excellence Award for lifetime achievement in the field of economics, Pasha sat down with B
Published 16 Mar, 2012 12:00am
PARB approves 53 projects under competitive grant system

PARB approves 53 projects under competitive grant system

Punjab Agricultural Research Board (PARB) has decided to conduct technical evaluation of all 53 research projects funded so far under competitive grant system. The Board has decided to constitute a committee comprising of renowned agricultural scientists,
Published 16 Mar, 2012 12:00am
KBP concerned over non-payment of dues by sugar mills owners

KBP concerned over non-payment of dues by sugar mills owners

Kissan Board Pakistan (KBP) President Sardar Zafar Hussain has expressed concern over the non-payment of dues by the sugar mills owners and demanded the government to intervene in this regard. Talking to delegations of sugarcane growers here on Thursday,
Published 16 Mar, 2012 12:00am
First UK departmental store to be functional by April in Karachi

First UK departmental store to be functional by April in Karachi

Deputy British High Commissioner & Director for UK Trade & Investment Francis Campbell said on Wednesday UK's departmental store with 30 different brands will start operation in Karachi by the end of April. He was talking to the media after addressing the
Published 16 Mar, 2012 12:00am
Gas supply to CNG stations, industrial units suspended

Gas supply to CNG stations, industrial units suspended

Sui Northern Gas Pipelines Limited (SNGPL) on Thursday morning suspended gas supply to 380 CNG stations and 600 industrial units for three and four days respectively in Faisalabad Region. Gas consuming industrial units, most of them export oriented and la
Published 16 Mar, 2012 12:00am
LHC approached against Railways Minister's move

LHC approached against Railways Minister's move

A member of the bar has approached the Lahore High Court against Railways Minister for giving tender for new engines to a black listed company. The petitioner Feroz Shah contended that respondent minister against the recommendations of procurement commit
Published 16 Mar, 2012 12:00am
Pakistan book place in Asia Cup final

Pakistan book place in Asia Cup final

Skipper Misbah-ul-Haq and Umar Akmal cracked half-centuries under pressure as Pakistan virtually booked a place in the Asia Cup final with an emphatic six-wicket victory over Sri Lanka on Thursday. Pakistan were struggling at 33-3 before Misbah (72 not ou
Published 16 Mar, 2012 12:00am
Pakistan book place in Asia Cup final

Pakistan book place in Asia Cup final

Skipper Misbah-ul-Haq and Umar Akmal cracked half-centuries under pressure as Pakistan virtually booked a place in the Asia Cup final with an emphatic six-wicket victory over Sri Lanka on Thursday. Pakistan were struggling at 33-3 before Misbah (72 not ou
Published 16 Mar, 2012 12:00am
Cricket SA president quits over bonus scandal

Cricket SA president quits over bonus scandal

Acting Cricket SA (CSA) president A.K. Khan quit Wednesday in the aftermath of a $600,000 bonus scandal that has left chief executive Gerald Majola fighting for survival. Khan resigned at a CSA management committee meeting here along with audit and risk c
Published 16 Mar, 2012 12:00am
UET Peshawar Mini Olympics concludes

UET Peshawar Mini Olympics concludes

A week-long Mini Olympics for 2012 under the auspices of University of Engineering & Technology Peshawar Mardan Campus concluded here on Thursday. The varsity Vice Chancellor, Imtiaz Hussain Gilani was chief guest at closing ceremony of the sports event.
Published 16 Mar, 2012 12:00am
PHF sacks Dutch hockey coach

PHF sacks Dutch hockey coach

Pakistan Thursday sacked their Dutch hockey coach over allegations he broke his contract, a move which could harm their preparations for the London Olympics. Michel van den Heuvel, was due to keep the job until after the Olympics this summer. But the Paki
Published 16 Mar, 2012 12:00am
New Zealand reeling as South Africa quicks run rampant

New Zealand reeling as South Africa quicks run rampant

South Africa's pace attack humiliated New Zealand's middle order in an extraordinary display Thursday that put the Proteas firmly in control on the first day of the second Test. Vernon Philander and Dale Steyn ran rampant as New Zealand lost eight wickets
Published 16 Mar, 2012 12:00am
Chelsea edge Napoli in extra time as Madrid cruise

Chelsea edge Napoli in extra time as Madrid cruise

Chelsea made sure of an English presence in the Champions League last eight after roaring back to defeat Napoli on Wednesday, while Real Madrid swept aside CSKA Moscow 4-1 to take their place in the quarter-finals. Trailing 3-1 from the first leg in Naple
Published 16 Mar, 2012 12:00am
Li ousted, Azarenka rolls on at Indian Wells

Li ousted, Azarenka rolls on at Indian Wells

French Open champion Li Na, playing in her first event since pulling out of the Paris Indoor Open, exited the WTA Indian Wells event Wednesday, losing to 6-4, 6-2 to Angelique Kerber. China's Li, the first Asian player to win a Grand Slam title, suffered
Published 16 Mar, 2012 12:00am
Coal conversion agreement: Chinese firm, KESC hold joint session

Coal conversion agreement: Chinese firm, KESC hold joint session

Karachi Electric Supply Company (KESC) and Bright Eagle Enterprises held their first joint session on Thursday to kick off the Joint Development Agreement for the conversion of KESC's 1,260MW Bin Qasim Power Station from residual fuel oil (RFO) fired to c
Published 16 Mar, 2012 12:00am
Edhi volunteer among three held; 200kg of heroin recovered

Edhi volunteer among three held; 200kg of heroin recovered

A novel modus-operandi for heroin smuggling was unearthed on Thursday as three drug smugglers including a volunteer of Edhi Foundation were arrested over the charge of transporting 200kgs of fine quality heroin through Edhi ambulance service from Hub to K
Published 16 Mar, 2012 12:00am
German envoy calls on Hina

German envoy calls on Hina

Dr Michael Koch, German Ambassador paid a farewell call on Foreign Minister Hina Rabbani Khar on Thursday. Commending Ambassador's efforts in bringing the two countries ever closer, the Foreign Minister said that he had earned a lot of respect and admirat
Published 16 Mar, 2012 12:00am
World Consumer Rights Day observed

World Consumer Rights Day observed

The World Consumer Rights Day was observed across the country to highlight the importance of the day. The theme for World Consumer Rights Day (WCRD) 2012 was "Our Money, Our Rights: Campaigning for Real Choice in Financial Services."
Published 16 Mar, 2012 12:00am
Exhibition of Indonesian goods on March 17

Exhibition of Indonesian goods on March 17

The Consulate General of Indonesia in Karachi in collaboration with Hyderabad Chamber of Commerce and Industry (HCCI) is organising a two-day exhibition of Indonesian products from Saturday (tomorrow) at Indus hotel. The exhibition would remain open for v
Published 16 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 Thursday. 81.75-81.80 (previous 81.75-81.80). Call Money Rates: 11.00-13.50 percent (previous 07.00-14.00 percent).
Published 16 Mar, 2012 12:00am
Sterling retreats

Sterling retreats

Sterling pulled back from a one-month high versus the euro and struggled against the dollar on Thursday, with investors cautious after ratings agency Fitch joined Moody's in warning of a possible downgrade to Britain's triple-A credit rating. Fitch revise
Published 16 Mar, 2012 12:00am
Most Asian currencies dip

Most Asian currencies dip

Most emerging Asian currencies dipped on Thursday due to a firm dollar backed by higher US bond yields on optimism over recovery in the world's top economy, while worries about a slowing Chinese economy also weighed. The Federal Reserve this week upgraded
Published 16 Mar, 2012 12:00am
Australian dollar hits 10-month peak versus yen

Australian dollar hits 10-month peak versus yen

The Australian dollar scaled a 10-month peak on the yen and bounced on the US dollar on Thursday, while bond yields soared to multi-month peaks as investors scaled back long-held positions in safe-haven Treasuries. The Antipodean currencies notched solid
Published 16 Mar, 2012 12:00am
Swiss franc off lows

Swiss franc off lows

The Swiss franc came off a two-month low it hit against the euro on Thursday as investors bet the Swiss National Bank was unlikely to try to weaken the currency further when it holds its quarterly monetary policy meeting on Thursday. The franc fell to 1.2
Published 16 Mar, 2012 12:00am
Dollar jumps in New York

Dollar jumps in New York

The dollar leaped to an 11-month high against the yen and a one-month peak versus the euro on Wednesday a day after the Federal Reserve upgraded its economic outlook amid a stream of US data signalling a sustainable recovery. Rising Treasury yields drove
Published 16 Mar, 2012 12:00am
Early trade in New York: dollar off versus yen, euro

Early trade in New York: dollar off versus yen, euro

The dollar eased against the yen and the euro on Thursday, snapping a two-day climb, as investors looked for a new trigger to spark another rise after recent gains on higher US Treasury yields. The dollar was down 0.5 percent against the yen at 83.22 yen,
Published 16 Mar, 2012 12:00am
Dollar stays firm in London

Dollar stays firm in London

The dollar stayed near an 11-month high against the yen and a 1-month high against the euro on Thursday and looked set for further gains on growing optimism over the US economy and a rise in US Treasury yields. The dollar and the euro fell versus the Swis
Published 16 Mar, 2012 12:00am
Dollar keeps rising in Asia

Dollar keeps rising in Asia

The dollar hit a fresh 11-month high against the yen and a one-month peak against the euro in Asia on Thursday, supported by growing optimism about the US economy and subsequent rises in US bond yields. The dollar's strength came as other currencies suffe
Published 16 Mar, 2012 12:00am
Long-term euro interest rate expectations rise

Long-term euro interest rate expectations rise

Improved faith in the global economic outlook pushed up expectations for longer term eurozone rates on Thursday, but the bloc's weaker growth prospects compared with the United States are casting doubts over the longevity of the trend. New US claims for u
Published 16 Mar, 2012 12:00am
Yuan rises

Yuan rises

The yuan rose slightly versus the dollar on Thursday as traders believe the currency might soon see a floor after the central bank let the midpoint score its biggest 11-session loss since China set up the domestic foreign exchange market in 1994. The Peop
Published 16 Mar, 2012 12:00am
Weak energy stocks pin back Britain's FTSE

Weak energy stocks pin back Britain's FTSE

Britain's leading share index slipped on Thursday, weighed down by weakness in heavyweight energy stocks after recent gains, with investors also looking ahead to futures and options expiries. "The first quarterly futures and options expiries of the New Ye
Published 16 Mar, 2012 12:00am
Libya's bourse resumes trading

Libya's bourse resumes trading

Libya's Stock Exchange resumed trading on Thursday after more than 12 months out of action, as the country gets back to business after last year's conflict ousted leader Muammar Qadhafi. Officials on the trading floor rang a bell then shouted "Allahu Akba
Published 16 Mar, 2012 12:00am
Seoul stocks flat

Seoul stocks flat

Seoul shares closed nearly flat on Thursday after a rangebound session, with investors consolidating gains following a rally to a 7-month high the day before, and as concerns on demand in China stifled appetite for stocks. The Korea Composite Stock Price
Published 16 Mar, 2012 12:00am
European shares end near 33-week high

European shares end near 33-week high

European share prices closed at near 33-week highs on Thursday as further signs of an improvement in the US economy boosted sentiment. Figures showing new claims for US unemployment benefits fell back to a four-year low last week and manufacturing data im
Published 16 Mar, 2012 12:00am
Southeast Asian markets: Thai stocks climbs to 16 years top

Southeast Asian markets: Thai stocks climbs to 16 years top

Thai stocks climbed to their highest in almost 16 years on Thursday, led by banking and telecoms shares, but shares in Indonesia and the Philippines fell amid renewed concerns about Chinese growth that gripped sentiment across Asia. Thailand's benchmark S
Published 16 Mar, 2012 12:00am
Australian shares ease

Australian shares ease

Australian shares slipped 0.2 percent on Thursday, retreating from two-week highs as big miners fell after Beijing said it needed to embrace slower growth, threatening lower demand from top-customer China. "Our market has done well given the weakness in C
Published 16 Mar, 2012 12:00am
Treasuries plunge

Treasuries plunge

US Treasuries prices plunged on Wednesday, sending yields to the highest since October, as the Federal Reserve's brighter economic outlook and ongoing stock market strength drove an exit from safe-haven US government debt for a second day. Mostly positive
Published 16 Mar, 2012 12:00am
Treasuries plunge

Treasuries plunge

US Treasuries prices plunged on Wednesday, sending yields to the highest since October, as the Federal Reserve's brighter economic outlook and ongoing stock market strength drove an exit from safe-haven US government debt for a second day. Mostly positive
Published 16 Mar, 2012 12:00am
Indian stocks drop

Indian stocks drop

Indian shares fell for the first time in five sessions as sectors sensitive to interest rates such as banks and real estate dropped after the central bank kept its policy rates unchanged, voicing a more hawkish stance than expected. Though analysts had la
Published 16 Mar, 2012 12:00am
Wall Street retreats; Apple up again

Wall Street retreats; Apple up again

The S&P 500 broke a five-day streak of gains on Wednesday as investors found little reason to extend a rally that took the benchmark index to four-year highs. While the major averages ended essentially flat, three stocks fell for every gainer on the New Y
Published 16 Mar, 2012 12:00am
Thursday's afternoon trade: S&P 500 above 1,400

Thursday's afternoon trade: S&P 500 above 1,400

US stocks rose on Thursday, with the S&P 500 topping the 1,400-mark for the first time since the financial crisis on a strong run of economic data. Though 1,400 on the S&P, which marks the highest level for the index since June 2008, does not have much te
Published 16 Mar, 2012 12:00am
Nikkei extends rally

Nikkei extends rally

Japan's Nikkei average rallied for a third straight session on Thursday, lifted to a fresh eight-month closing high by major exporters that surged on the back of a weaker yen while recent data boosted confidence about a US economic recovery. The yen plumb
Published 16 Mar, 2012 12:00am
Hong Kong shares up; Shanghai stocks weaken

Hong Kong shares up; Shanghai stocks weaken

Hong Kong shares eked out a small gain on Thursday, thanks largely to a 4.1 percent jump for Chinese internet giant Tencent Holdings Ltd, which late on Wednesday reported surprisingly good fourth-quarter revenue. Mainland Chinese markets were weaker for a
Published 16 Mar, 2012 12:00am
Egyptian stocks remain up

Egyptian stocks remain up

Egyptian stocks rose for a second day on Thursday on expectations that a $3.2 billion IMF loan deal is close, while United Arab Emirates bourses ended lower on profit-taking after recent rallies, and other Gulf markets were mixed. Cairo's main index gaine
Published 16 Mar, 2012 12:00am
Growers urge government to fix tobacco rates at Rs 250 per kg

Growers urge government to fix tobacco rates at Rs 250 per kg

Tobacco growers demanded of the government to fix rates of tobacco at Rs 250 per kg and expressed grave concern over the growing manipulation of multi-national companies. The tobacco farmers said that the government should take steps for ending of the gro
Published 16 Mar, 2012 12:00am
Grand Chinese food festival opens

Grand Chinese food festival opens

Grand Chinese Food Festival opened at the Pearl Continental Hotel, Rawalpindi, which will be continued till March 18. Sheharyar Mirza, General Manager along with invitees from the diplomatic community inaugurated the Festival, says a press release issued
Published 16 Mar, 2012 12:00am
Eurozone job rate shrinks, labour costs rise

Eurozone job rate shrinks, labour costs rise

The number of people in work in the eurozone fell again in the last three months of 2011 while hourly labour costs rose, highlighting Europe's difficulty in driving a US-like recovery in jobs. Employment in the 17 nations sharing the euro fell 0.2 percent
Published 16 Mar, 2012 12:00am
India holds rates

India holds rates

India's monetary policymakers left interest rates on hold and warned of resurgent inflation risks, putting pressure on the government to trim the fiscal deficit a day before the federal budget is announced. But a political backlash against the already wea
Published 16 Mar, 2012 12:00am
Tunisia sets up Islamic finance working group

Tunisia sets up Islamic finance working group

The Tunisian government has set up a working group that will study how to develop Islamic finance in the country, a finance ministry official said. The group, which includes representatives from the central bank, stock exchange and private sector institut
Published 16 Mar, 2012 12:00am
Palestinian crisis to deepen without more aid: World Bank

Palestinian crisis to deepen without more aid: World Bank

The aid-dependent Palestinian economy faces a deepening crisis unless foreign support grows and Israel eases restrictions on its trade, the World Bank said on Thursday. The Western-backed Palestinian Authority is relying on foreign aid to cover a 2012 bud
Published 16 Mar, 2012 12:00am
Hotel prices tumble across Asia

Hotel prices tumble across Asia

Hotel prices in cities across Asia dropped in 2011 because of a stuttering global economy, an oversupply of rooms and domestic crises, a survey released Thursday found. Japan saw some of the biggest falls in the aftermath of its March 2011 earthquake, tsu
Published 16 Mar, 2012 12:00am
US jobless claims fall, manufacturing holds up

US jobless claims fall, manufacturing holds up

The number of Americans claiming new jobless benefits fell back to a four-year low last week and manufacturing in the Northeast held up in March, providing more signs the US economy was firmly on a self-sustaining growth path. But a jump in prices paid by
Published 16 Mar, 2012 12:00am
Spain shrugs off deficit blip at strong bond sale

Spain shrugs off deficit blip at strong bond sale

Spain drew strong demand for its bonds on Thursday, matching Italian debt auctions from the previous day as investors flush with ECB cash brushed aside market concerns over Madrid's ability to hit deficit targets in a recession-hit economy.
Published 16 Mar, 2012 12:00am
Spain shrugs off deficit blip at strong bond sale

Spain shrugs off deficit blip at strong bond sale

Spain drew strong demand for its bonds on Thursday, matching Italian debt auctions from the previous day as investors flush with ECB cash brushed aside market concerns over Madrid's ability to hit deficit targets in a recession-hit economy.
Published 16 Mar, 2012 12:00am
China resumes US Treasury purchases

China resumes US Treasury purchases

Foreigners began 2012 by buying US Treasuries, US Treasury data showed on Thursday, with China resuming purchases and Japan's holdings climbing to a record. Net purchases of US Treasuries rose to $82.961 billion in January after net selling of $14.901 bil
Published 16 Mar, 2012 12:00am
Ukraine wants to restructure $3 billion in IMF debt

Ukraine wants to restructure $3 billion in IMF debt

Cash-strapped Ukraine said on Thursday it wanted to restructure $3 billion in International Monetary Fund debt falling due this year, jolting the debt market and surprising the Fund which says it has received no such request. Rating agency Standard and Po
Published 16 Mar, 2012 12:00am
Asia condensate supply to tighten on Iran sanctions

Asia condensate supply to tighten on Iran sanctions

Japan and South Korean buyers are looking for alternate supplies of high-sulphur condensate to replace term barrels from Iran as Western sanctions make imports from the Opec producer difficult, industry sources said on Thursday. They said South Korea, Jap
Published 16 Mar, 2012 12:00am
Cotton market barely steady

Cotton market barely steady

Sporadic buying by the mills and the exporters has characterised our market this week. Slow turnover in both cotton and textiles has been reported in our market which mostly lacks cheer. Our market may now discover a new bottom even though global fibre pr
Published 16 Mar, 2012 12:00am
Cotton market barely steady

Cotton market barely steady

Sporadic buying by the mills and the exporters has characterised our market this week. Slow turnover in both cotton and textiles has been reported in our market which mostly lacks cheer. Our market may now discover a new bottom even though global fibre pr
Published 16 Mar, 2012 12:00am
Canadian canola futures up

Canadian canola futures up

ICE Canadian canola futures edged up to a fresh six-month high on Wednesday, supported by exporter buying and soyabean strength, traders said. May canola gained 90 cents to $587.70 per tonne on volume of 11,384 contracts. Touched $590.80, the highest pric
Published 16 Mar, 2012 12:00am
Seedcotton prices move up amid improved business on cotton market

Seedcotton prices move up amid improved business on cotton market

Seedcotton prices were higher on the cotton market on Thursday amid improvement in daily-intake as ginners adopted flexible attitude to make the deals, dealers said. The official spot rate was unchanged at Rs 5,200, they said. Prices of seedcotton in Sind
Published 16 Mar, 2012 12:00am
Oil cake market rates

Oil cake market rates

The March vaida was unchanged while May contract was down on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The March vaida that had closed at 768.00, market observed no change in rates in the beginning hours. The M
Published 16 Mar, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 68,890 tonnes of cargo comprising1 52,709 tonnes of import cargo and 16,181 tonnes of export cargo including 2,122 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 52,709 to
Published 16 Mar, 2012 12:00am
US soyabean export outlook improving: Oil World

US soyabean export outlook improving: Oil World

Export prospects for US soyabeans are improving as rival South American producers suffer crop losses and demand from key importer China is likely to continue to grow, Hamburg-based oilseeds analysts Oil World said on Tuesday. Drought has reduced Brazil's
Published 16 Mar, 2012 12:00am
Wheat export premiums steady at US Gulf Coast

Wheat export premiums steady at US Gulf Coast

US wheat export premiums at the US Gulf Coast were near steady on Wednesday, with soft red winter wheat values underpinned by hopes for another sale to top importer Egypt, traders said Egypt's GASC seeking wheat for May 1-10 shipment, with tender results
Published 16 Mar, 2012 12:00am
Grams, moong rates fall on grain market

Grams, moong rates fall on grain market

Grams prices fell on the wholesale grain market on Thursday as retailers did not show interest in fresh buying due to higher rates, dealers said. On the grams side, gram Australian No 1 was lower by Rs 300 to Rs 7000-7300, grams Australia No 1 dal shed th
Published 16 Mar, 2012 12:00am
Ivorian cocoa prices decrease

Ivorian cocoa prices decrease

Cocoa farmgate prices in Ivory Coast's main growing regions fell last week as few buyers remained to bid for the dregs of the main crop. A stretch of dry, windy weather in the world's top grower cut the October-to-March main crop short and left the remain
Published 16 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 16 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 16 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 Thursday (March 15, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover fo
Published 16 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 16 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 Thursday (March 15, 2012).

Published 16 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 Thursday (March 15, 2012).

Published 16 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 Thursday (March 15, 2012).

Published 16 Mar, 2012 12:00am
Taliban break US contacts, Karzai orders US out of villages

Taliban break US contacts, Karzai orders US out of villages

The Taliban broke off confidence-building talks with the Americans on Thursday and the Afghan president ordered US troops out of villages, demanding a transition of security from Nato control in 2013. The announcements from the Islamist militia fighting A
Published 16 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 Thursday (March 15, 2012).

Published 16 Mar, 2012 12:00am
Taliban break US contacts, Karzai orders US out of villages

Taliban break US contacts, Karzai orders US out of villages

The Taliban broke off confidence-building talks with the Americans on Thursday and the Afghan president ordered US troops out of villages, demanding a transition of security from Nato control in 2013. The announcements from the Islamist militia fighting A
Published 16 Mar, 2012 12:00am
EU tightens financial measures against Iran

EU tightens financial measures against Iran

The European Union is tightening financial restrictions on Iran as part of the bloc's attempts to pressure Tehran to abandon its nuclear programme, the EU Council said on Thursday. The Council, which represents EU member states, has already imposed asset
Published 16 Mar, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (March 15, 2012).
Published 16 Mar, 2012 12:00am
EU tightens financial measures against Iran

EU tightens financial measures against Iran

The European Union is tightening financial restrictions on Iran as part of the bloc's attempts to pressure Tehran to abandon its nuclear programme, the EU Council said on Thursday. The Council, which represents EU member states, has already imposed asset
Published 16 Mar, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (March 15, 2012).

Published 16 Mar, 2012 12:00am
Major UAE currency houses halt Iran rial business

Major UAE currency houses halt Iran rial business

Major money exchange houses in the United Arab Emirates have stopped handling Iranian rials over the last several weeks, executives at the houses said, further reducing Iran's ability to trade and obtain hard currency. Since late last year, Iran has large
Published 16 Mar, 2012 12:00am
Major UAE currency houses halt Iran rial business

Major UAE currency houses halt Iran rial business

Major money exchange houses in the United Arab Emirates have stopped handling Iranian rials over the last several weeks, executives at the houses said, further reducing Iran's ability to trade and obtain hard currency. Since late last year, Iran has large
Published 16 Mar, 2012 12:00am
Major UAE currency houses halt Iran rial business

Major UAE currency houses halt Iran rial business

Major money exchange houses in the United Arab Emirates have stopped handling Iranian rials over the last several weeks, executives at the houses said, further reducing Iran''s ability to trade and obtain hard currency. Since late last year, Iran has larg
Published 16 Mar, 2012 12:00am
Payments system SWIFT to cut off Iranian banks

Payments system SWIFT to cut off Iranian banks

Belgium-based SWIFT, which facilitates the bulk of global cross-border payments, will on Saturday cut off Iranian banks blacklisted by the European Union over Tehran's nuclear programme after an EU order and pressure from the United States. SWIFT (Society
Published 16 Mar, 2012 12:00am
Payments system SWIFT to cut off Iranian banks

Payments system SWIFT to cut off Iranian banks

Belgium-based SWIFT, which facilitates the bulk of global cross-border payments, will on Saturday cut off Iranian banks blacklisted by the European Union over Tehran's nuclear programme after an EU order and pressure from the United States. SWIFT (Society
Published 16 Mar, 2012 12:00am
Payments system SWIFT to cut off Iranian banks

Payments system SWIFT to cut off Iranian banks

Belgium-based SWIFT, which facilitates the bulk of global cross-border payments, will on Saturday cut off Iranian banks blacklisted by the European Union over Tehran''s nuclear programme after an EU order and pressure from the United States. SWIFT (Societ
Published 16 Mar, 2012 12:00am
SECP, FBR sign accord on sharing data

SECP, FBR sign accord on sharing data

The Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenues (FBR) here on Thursday signed an important memorandum of understanding (MoU) on sharing of information for the documentation of economy, broadening of tax base and mut
Published 16 Mar, 2012 12:00am
SECP, FBR sign accord on sharing data

SECP, FBR sign accord on sharing data

The Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenues (FBR) here on Thursday signed an important memorandum of understanding (MoU) on sharing of information for the documentation of economy, broadening of tax base and mut
Published 16 Mar, 2012 12:00am
SECP, FBR sign accord on sharing data

SECP, FBR sign accord on sharing data

The Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenues (FBR) here on Thursday signed an important memorandum of understanding (MoU) on sharing of information for the documentation of economy, broadening of tax base and mut
Published 16 Mar, 2012 12:00am
SECP, FBR sign accord on sharing data

SECP, FBR sign accord on sharing data

The Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenues (FBR) here on Thursday signed an important memorandum of understanding (MoU) on sharing of information for the documentation of economy, broadening of tax base and mut
Published 16 Mar, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (March 15, 2012).

Published 16 Mar, 2012 12:00am
Index gains 90.4 points

Index gains 90.4 points

The KSE-100 index on Thursday increased by 90.40 points to close at 13,451.07 points on the back of local investors support after mid session. The foreign investors however remained net sellers and withdrew $2.16 million from the local equity market.
Published 16 Mar, 2012 12:00am
Index gains 90.4 points

Index gains 90.4 points

The KSE-100 index on Thursday increased by 90.40 points to close at 13,451.07 points on the back of local investors support after mid session. The foreign investors however remained net sellers and withdrew $2.16 million from the local equity market.
Published 16 Mar, 2012 12:00am
Index gains 90.4 points

Index gains 90.4 points

The KSE-100 index on Thursday increased by 90.40 points to close at 13,451.07 points on the back of local investors support after mid session. The foreign investors however remained net sellers and withdrew $2.16 million from the local equity market.
Published 16 Mar, 2012 12:00am
BRIndex30 surges by 28.78 points

BRIndex30 surges by 28.78 points

On Thursday, BRIndex30 opened at 10,216.21. It touched an intraday high of 10,316.16 and an intraday low of 10,101.21 and closed at 10,244.99, which was 28.78 points or 0.28 percent higher than previous close. Total volume was 156,109,160, which was 46.34
Published 16 Mar, 2012 12:00am
BRIndex30 surges by 28.78 points

BRIndex30 surges by 28.78 points

On Thursday, BRIndex30 opened at 10,216.21. It touched an intraday high of 10,316.16 and an intraday low of 10,101.21 and closed at 10,244.99, which was 28.78 points or 0.28 percent higher than previous close. Total volume was 156,109,160, which was 46.34
Published 16 Mar, 2012 12:00am
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