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Archive - 2012-04-12
N.Korea launches rocket: Yonhap
Top News

N.Korea launches rocket: Yonhap

SEOUL: North Korea on Friday launched a long-range rocket, South Korea's defence ministry said. "North Korea launched a
Published 12 Apr, 2012 06:59pm
KCCI demands repeal of SRO 191
Top News

KCCI demands repeal of SRO 191

KARACHI: Karachi Chamber of Commerce & Industry has urged chairman FBR to rescind/suspend SRO 191(I)/2012 till budget in
Published 12 Apr, 2012 03:20pm
Legislators meet Rehman Malik
Pakistan

Legislators meet Rehman Malik

ISLAMABAD: Balochistan's Minister for Population Welfare Haji Muhammad Khan Toru called on Minister for Interior Rehman
Published 12 Apr, 2012 03:16pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : The KSE-100 index on Thursday declined by 123.22 points to close at 13,693.74 points as the investors opted fo
Published 12 Apr, 2012 02:07pm
'Lifestyle Pakistan' opens in India
Top News

'Lifestyle Pakistan' opens in India

NEW DELHI: Pakistan's First Lifestyle Exhibition opened in New Delhi on Thursday with over 100 top brands and designers
Published 12 Apr, 2012 12:08pm
Gilani to visit Britain next month: FO
Top News

Gilani to visit Britain next month: FO

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani will pay an official visit to the United Kingdom next month. "Prime M
Published 12 Apr, 2012 11:08am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI : On Thursday until 12:35 P.M. , KSE-100 Index remained negative and was at 13,709.55 with a negative change
Published 12 Apr, 2012 07:55am
Oil prices lower in Asian trade
Energy

Oil prices lower in Asian trade

SINGAPORE: Oil prices slipped in Asian trade on Thursday, with weakerUS energy demand and fears the eurozone debt crisis
Published 12 Apr, 2012 03:50am
Ceasefire in Syria comes into effect
Top News

Ceasefire in Syria comes into effect

DAMASCUS: A ceasefire inSyria came into effect at6:00 am (0300 GMT) in line with an ultimatum set by UN/Arab League envo
Published 12 Apr, 2012 03:29am
National Energy Conference
BR Research

National Energy Conference

For the third year running, the government has pulled the same old trick of a five-day workweek and early market closure to combat the press
Published 12 Apr, 2012 12:00am
Cocoa rebounds

Cocoa rebounds

Cocoa futures turned higher after hitting a 3-month low on Wednesday in what some called a knee-jerk reaction to a strong earthquake off Indonesia, the world's third-biggest cocoa producer. May/July cocoa spreads were active on ICE. Coffee rose in the wak
Published 12 Apr, 2012 12:00am
Grains tumble

Grains tumble

US grains fell on Tuesday as investors across a broad range of commodities bailed out of risk assets, yanking soyaabeans back down from an early rise and close to their highest since records were hit in 2008. Corn fell more than 2 percent to a one-week lo
Published 12 Apr, 2012 12:00am
Tokyo rubber futures dip

Tokyo rubber futures dip

Key TOCOM rubber futures dipped to a two-month low on Wednesday as investors reduced their exposure to risk due to uncertainty over global growth prospects, with some investors anticipating a further drop in prices.
Published 12 Apr, 2012 12:00am
Novelis sees China's aluminium demand growing eight percent

Novelis sees China's aluminium demand growing eight percent

China's aluminium demand is expected to grow at an average annual clip of around 8 percent over the next five years, underpinned by a rapid expansion of its auto sector that will use more of the lightweight metal to boost fuel efficiency, Novelis Inc said
Published 12 Apr, 2012 12:00am
Oil up as drop in US fuel stocks sparks rebound

Oil up as drop in US fuel stocks sparks rebound

Oil prices rose on Wednesday, reversing two days of losses, after US government data showed domestic fuel stocks fell much more than expected last week, which overshadowed an increase in crude inventories. US crude oil stocks rose by 2.8 million barrels,
Published 12 Apr, 2012 12:00am
Copper steadies

Copper steadies

Copper steadied on Wednesday from four percent losses in the prior session, holding near $8,000 a tonne as twin concerns of slowing US and Chinese growth curbed demand expectations for the metal, but consumer buying cushioned losses. Three month copper on
Published 12 Apr, 2012 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded July copper contract on the Shanghai Futures Exchange fell as low as 57,740 yuan ($9,100) a tonne on Wednesday, a level not seen since January 12, before closing down 2.5 percent at 57,870 yuan. While the same trade data showed China's cop
Published 12 Apr, 2012 12:00am
Putin calls for unity after protests, polls

Putin calls for unity after protests, polls

President-elect Vladimir Putin urged his opponents on Wednesday to put aside their differences with him for the sake of Russia's economic and political future after months of protests and elections that divided the country. But some deputies walked out of
Published 12 Apr, 2012 12:00am
US politics holding back World Bank: Ocampo

US politics holding back World Bank: Ocampo

US politics have prevented the World Bank from raising money to expand its poverty-fighting work, Colombian economist Jose Antonio Ocampo said Tuesday as he pitched his candidacy to lead the development lender. Ocampo said the Bank needed to raise capital
Published 12 Apr, 2012 12:00am
Greece heading for May 6 ballot after Prime Minister steps down

Greece heading for May 6 ballot after Prime Minister steps down

Greece's Prime Minister Lucas Papademos on Wednesday set the stage for early elections on May 6 by submitting his resignation to the country's president after heading a five-month debt rescue. Papademos formally resigned to President Carolos Papoulias aft
Published 12 Apr, 2012 12:00am
South Korea ruling party wins polls

South Korea ruling party wins polls

South Korea's ruling party claimed a majority on Wednesday in a parliamentary vote that centred on domestic issues but had implications for Seoul's relationship with the North. President Lee Myung-bak's conservative Saenuri Party was expected to win at le
Published 12 Apr, 2012 12:00am
Clinton says no 'new Cold War' in Asia

Clinton says no 'new Cold War' in Asia

Secretary of State Hillary Clinton said Tuesday the United States was not seeking conflict with a rising China but urged emerging powers to act more "constructively" in the world. As academics in China and elsewhere increasingly speak of US decline, Clint
Published 12 Apr, 2012 12:00am
Algeria's first president Ben Bella dies

Algeria's first president Ben Bella dies

The first president of independent Algeria, Ahmed Ben Bella, died Wednesday in Algiers at the age of 95, state news agency APS reported, citing members of his inner circle. Ben Bella, who had been released from a military hospital on February 23 after bei
Published 12 Apr, 2012 12:00am
Leading French resistance hero Aubrac dies at 97

Leading French resistance hero Aubrac dies at 97

One of the last surviving senior French Resistance leaders, Raymond Aubrac, whose pregnant wife famously led a daring commando raid to rescue him from the Nazis, has died in Paris aged 97. Aubrac, whose parents were deported to their deaths at Auschwitz,
Published 12 Apr, 2012 12:00am
Syria pledges truce, if rebels hold fire

Syria pledges truce, if rebels hold fire

Syria promised to observe a UN-backed cease-fire starting on Thursday, but its forces kept up fierce attacks on opposition neighbourhoods in the hours before the deadline. A Syrian defence ministry source quoted on state television on Wednesday said the a
Published 12 Apr, 2012 12:00am
British Prime Minister backs US-style tax transparency

British Prime Minister backs US-style tax transparency

Aides to British Prime Minister David Cameron said Wednesday he would be happy to publish details of how much tax he pays, in what would signal an unprecedented move towards US-style transparency. Ministers have come under pressure to reveal their tax aff
Published 12 Apr, 2012 12:00am
Arsonist jailed for London riots inferno

Arsonist jailed for London riots inferno

A looter who started a massive blaze that was one of the defining images of the London riots was jailed for 11-and-a-half years on Wednesday. Gordon Thompson, 34, was sentenced at England's Old Bailey central criminal court in London, having pleaded guilt
Published 12 Apr, 2012 12:00am
French cabinet okays new anti-terrorism measures

French cabinet okays new anti-terrorism measures

France's conservative government unveiled new counterterrorism measures on Wednesday to punish those who visit extremist websites or travel to weapons-training camps abroad, in the wake of killings by an suspected Islamic extremist in southern France last
Published 12 Apr, 2012 12:00am
US military helicopter crashes in Morocco, three injured

US military helicopter crashes in Morocco, three injured

A US military helicopter crashed on Wednesday in southern Morocco during a joint military exercise, seriously injuring at least three US soldiers, private Radio Plus reported. Over 1,000 US Marines and 200 soldiers, sailors and airmen are taking part in t
Published 12 Apr, 2012 12:00am
Philip Morris (Pakistan) Limited

Philip Morris (Pakistan) Limited

Philip Morris Pakistan Limited is a public listed company on the Karachi and Lahore Stock Exchanges and is an affiliate of Philip Morris International Inc (PMI). Amongst the two multinational tobacco companies in Pakistan, Philip Morris Pakistan Limited (
Published 12 Apr, 2012 12:00am
Philip Morris (Pakistan) Limited

Philip Morris (Pakistan) Limited

Philip Morris Pakistan Limited is a public listed company on the Karachi and Lahore Stock Exchanges and is an affiliate of Philip Morris International Inc (PMI). Amongst the two multinational tobacco companies in Pakistan, Philip Morris Pakistan Limited (
Published 12 Apr, 2012 12:00am
Naval Chief calls on National Assembly Speaker

Naval Chief calls on National Assembly Speaker

Chief of Naval Staff Admiral Muhammad Asif Sandila paid a courtesy call on Dr Fehmida Mirza, Speaker National Assembly here on Wednesday. While praising the state of preparedness of Pakistan Navy, Dr Fehmida Mirza said the force has played an important ro
Published 12 Apr, 2012 12:00am
Parliamentarians from Fata call on President

Parliamentarians from Fata call on President

President Asif Ali Zardari on Wednesday said the democratic government attached highest priority to the development of Fata as a part of counter insurgency strategy because poverty pushed the youth into the trap of terrorists. The President was talking to
Published 12 Apr, 2012 12:00am
France expresses sadness

France expresses sadness

France Wednesday expressed sadness over 138 missing persons as a result of an unprecedented avalanche which hit Pakistani troops at Gayar sector at Siachen glacier last Saturday. A French embassy's statement issued here on Wednesday said, "France learnt w
Published 12 Apr, 2012 12:00am
PSO supporting Siachen rescue operation

PSO supporting Siachen rescue operation

Pakistan State Oil (PSO) is supporting the relief operation being undertaken in Gyari region of Siachen through the supply of High Speed Diesel (HSD) to Pakistan Army. PSO has dispatched an immediate consignment of 40,000 litres of HSD for the rescue oper
Published 12 Apr, 2012 12:00am
MoU between NH&MP, WWF signed

MoU between NH&MP, WWF signed

A Memoran-dum of Understanding (MOU) was signed between NH&MP and WWF here on Wednesday to complement and supplement each other's outreaches. The signing ceremony was held at NH&MP office, which was attended by Inspector General of Police, NH&MP and Chair
Published 12 Apr, 2012 12:00am
Free eye camp at Khanpur

Free eye camp at Khanpur

The Coca-Cola Export Corporation in collaboration with Friends Hospital and Raja Ejaz Akhtar held a three-day free eye camp in Khanpur Tarnava District Haripur. The camp was set-up at the Friends Hospital. Residents of Khanpur and surrounding areas got fr
Published 12 Apr, 2012 12:00am
Measures for holding of Punjab Sports Festival 2012 reviewed

Measures for holding of Punjab Sports Festival 2012 reviewed

Punjab Chief Minister Shahbaz Sharif here Wednesday presided over a meeting which took a number of decisions for the promotion of sports and provision of opportunities of healthy activities to the youth in the province. Deputy Speaker Punjab Assembly Rana
Published 12 Apr, 2012 12:00am
Gayari Sector rescue operation continues

Gayari Sector rescue operation continues

Despite weather hazards, the rescue operation in the Gayari Sector continues at five priority points identified with the help of SPD team employed along with plant equipment and Army Search and Rescue Teams. According to Inter-Services Public Relations (I
Published 12 Apr, 2012 12:00am
Australia set testing target by West Indies

Australia set testing target by West Indies

Australia were set a difficult target of 192 to win the first Test after their pace attack worked it's way through the West Indies tail to dismiss them for 148 here on the fifth and final day on Wednesday. West Indies coach Otis Gibson had said after stum
Published 12 Apr, 2012 12:00am
India to drop 'Terry' pic from cigarette warnings

India to drop 'Terry' pic from cigarette warnings

An Indian health warning on cigarette packets that uses an apparent picture of England footballer John Terry with a set of blackened lungs is to be withdrawn, officials said Wednesday. Terry's London-based lawyers have threatened to sue over the blurry ph
Published 12 Apr, 2012 12:00am
Cancer survivor Yuvraj 'positive' about comeback

Cancer survivor Yuvraj 'positive' about comeback

India's World Cup hero Yuvraj Singh on Wednesday vowed to return to cricket after recovering from a cancerous tumour, but was unable to set a timeline for his comeback. "I want to see the Team India logo on my cap again," Yuvraj, 30, told a media conferen
Published 12 Apr, 2012 12:00am
Djokovic, Nadal aim for attendance record

Djokovic, Nadal aim for attendance record

World number one Novak Djokovic is to play second-ranked Rafael Nadal at Real Madrid's Bernebeu stadium in a bid to establish a new attendance record for a tennis match, the football club said on Wednesday. "The aim of this exhibition match is to establis
Published 12 Apr, 2012 12:00am
Pakistan to play Junior Asia Cup hockey

Pakistan to play Junior Asia Cup hockey

Pakistan will participate in 7th Men's Junior Asia Cup hockey tournament at Malacca, Malaysia from May 3-13, 2012. The nine teams who will be competing in the tournament, besides Pakistan include Bangladesh, China, India, Iran, Japan, Korea, Malaysia and
Published 12 Apr, 2012 12:00am
Balochistan delegation calls on PCB chief

Balochistan delegation calls on PCB chief

A delegation of the cricket representatives from Balochistan met Chairman of the Pakistan Cricket Board (PCB) Zaka Ashraf at Gadaffi Stadium here on Wednesday. The delegation updated the PCB Chairman on the cricketing issues and problems faced by them.
Published 12 Apr, 2012 12:00am
Uruguay reach new high in FIFA rankings

Uruguay reach new high in FIFA rankings

Uruguay reached an all-time high of third place in the FIFA rankings on Wednesday while Spain stayed top and Germany moved into second. The Copa America champions' climb from fourth place was due to the mathematical intricacies of the rankings system as t
Published 12 Apr, 2012 12:00am
New Wisden editor slams Indian 'self-interest'

New Wisden editor slams Indian 'self-interest'

Cricket officials in India have been urged by the new editor of Wisden Cricketers' Almanack to abandon the "self interest of the few" and concentrate instead upon improving their team's Test results. India is cricket financial's powerhouse, with the passi
Published 12 Apr, 2012 12:00am
Double Wisden honour for Sangakkara

Double Wisden honour for Sangakkara

Sri Lanka's Kumar Sangakkara has been chosen as both one of the Five Cricketers of the Year and the Leading Cricketer in the World for 2011 in the 2012 edition of Wisden Cricketers' Almanack, it was announced Wednesday. The 34-year-old Sangakkara, one of
Published 12 Apr, 2012 12:00am
Malik looking forward to be selected again

Malik looking forward to be selected again

Former Pakistan Captain Shoaib Malik, believes that he could be in contention for national selection after leading his sides to domestic one-day and Twenty20 titles. Malik, who is not contracted by the PCB, has also been called for a fitness assessment at
Published 12 Apr, 2012 12:00am
Jones dedicates Liverpool win to tragic son

Jones dedicates Liverpool win to tragic son

Brad Jones dedicated Liverpool's 3-2 win at Blackburn to his son Luca, who died of leukaemia five months ago, after the Australian keeper endured a bitter-sweet Premier League debut for Kenny Dalglish's side on Tuesday. Jones, third in the pecking order o
Published 12 Apr, 2012 12:00am
Barca move to within a point of leaders Real

Barca move to within a point of leaders Real

Chile striker Alexis Sanchez scored twice as Barcelona swept to a 4-0 home win over Getafe that moved them to within a point of La Liga leaders Real Madrid on Tuesday. Alexis curled in the opener after 13 minutes and the World Player of the Year Lionel Me
Published 12 Apr, 2012 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 81.80-81.83 (previous 81.80-81.83). Call Money Rates: 12.50-14.00 percent (previous 07.50-14.75 percent).
Published 12 Apr, 2012 12:00am
Yuan ticks up

Yuan ticks up

The yuan gained slightly against the dollar on Wednesday, but showed no sign of breaking out of the narrow range in which it has traded since late March. With uncertainty lingering about the trend in the domestic economy as well as the state of the eurozo
Published 12 Apr, 2012 12:00am
Australian and New Zealand dollars cut losses

Australian and New Zealand dollars cut losses

The Australian and New Zealand dollars cut losses against the US dollar and the yen on Wednesday helped by profit-taking from short-sellers, but still remained very close to multi-week lows as worries about global growth linger. The Aussie was up 0.3 perc
Published 12 Apr, 2012 12:00am
Singapore dollar, Taiwan dollar up

Singapore dollar, Taiwan dollar up

The Singapore dollar and the Taiwan dollar rose on Wednesday, led by hopes for more inflows, and some other emerging Asian currencies strengthened, although the outlook for regional units stayed dim on renewed worries about global growth and Europe. The w
Published 12 Apr, 2012 12:00am
Indian rupee off lows

Indian rupee off lows

The Indian rupee pulled back from three-month lows on Wednesday aided by dollar inflows into some companies, but subdued risk appetite on global growth worries limited the recovery. The pull back in rupee sparked market talk about possible intervention by
Published 12 Apr, 2012 12:00am
Swiss franc flat

Swiss franc flat

Investors shunning risk around the world had the Swiss franc trading within sight of 1.20 per euro on Wednesday, but the spectre of Swiss National Bank intervention was capping any gains in the safe-haven unit. The SNB capped the franc at 1.20 per euro on
Published 12 Apr, 2012 12:00am
Yen rises in New York

Yen rises in New York

Investors seeking safety drove the yen to multi-week highs against the dollar and the euro on Tuesday as rising Spanish and Italian bond yields underscored worries about the global economy and the Bank of Japan (BoJ) said it was not considering more monet
Published 12 Apr, 2012 12:00am
Early trade in New York: euro rises

Early trade in New York: euro rises

The euro rose against the dollar and yen on Wednesday as the prospect of more rounds of European Central Bank bond buying helped assuage concerns over the recently battered debt of Spain and Italy. European Central Bank Executive Board member Benoit Coeur
Published 12 Apr, 2012 12:00am
Euro climbs in London

Euro climbs in London

The euro rose against the dollar on Wednesday as gains on stock markets encouraged traders to push it through resistance levels, but it stayed vulnerable to further selling as worries about indebted eurozone countries persisted. Analysts said the single c
Published 12 Apr, 2012 12:00am
Yen hits multi-week highs

Yen hits multi-week highs

The yen hit multi-week highs against major currencies while the risk-sensitive Australian dollar floundered to a three-month low against the US dollar on Wednesday as worries about global growth rose. A jump in Spanish bond yields exacerbated concerns abo
Published 12 Apr, 2012 12:00am
Sterling soars to 14-month high

Sterling soars to 14-month high

Sterling rose to its highest in 14 months against a trade-weighted basket of currencies on Wednesday, bolstered by improving UK data, while the pound held near a three-month high against the euro. Worries about the eurozone debt crisis took centre-stage a
Published 12 Apr, 2012 12:00am
Banking, mining stocks help FTSE spring back

Banking, mining stocks help FTSE spring back

Britain's top share index rebounded from a three-session slide on Wednesday as a rise in banking stocks following a positive broker comment and gains in mining shares boosted the index. The FTSE 100 index closed up 39.19 points, or 0.7 percent, reversing
Published 12 Apr, 2012 12:00am
Southeast Asian markets: Singapore, Thailand lead regional losses

Southeast Asian markets: Singapore, Thailand lead regional losses

Singapore shares fell to their lowest in nearly five weeks while Thai stocks hit four week lows on Wednesday, dragged lower by index heavyweights such as banking and commodities shares as risk aversion weighed on global stocks. Singapore's Straits Times I
Published 12 Apr, 2012 12:00am
Indian shares fall

Indian shares fall

Indian shares fell on Wednesday as a global flare-up of risk aversion hit blue chips such as Reliance Industries, though broader losses were cut as lenders gained on speculation the central bank could cut the cash reserve ratio. Fears about the potential
Published 12 Apr, 2012 12:00am
European shares halt week-long slide

European shares halt week-long slide

European stocks rose on Wednesday, halting a week-long slide as recently battered banks rallied, although the rebound was seen as technical and could be short-lived, with investors bracing for a key Italian government bond auction on Thursday. The FTSEuro
Published 12 Apr, 2012 12:00am
Nikkei stays down as Sony tumbles

Nikkei stays down as Sony tumbles

Japan's Nikkei share average dropped 0.8 percent on Wednesday to mark its seventh consecutive session of losses as fresh concerns about Spanish and Italian finances and slowing global growth sapped investor appetite. Sony Corp and Sharp Corp's forecast of
Published 12 Apr, 2012 12:00am
Hong Kong shares slip; China's index flat

Hong Kong shares slip; China's index flat

Hong Kong shares suffered a third-straight loss on Wednesday, with financial and resources-related sectors weak ahead of data that could suggest the slowdown in China will last beyond the first quarter. Mainland Chinese markets reversed early losses, as s
Published 12 Apr, 2012 12:00am
US yields move to four-week low

US yields move to four-week low

US Treasuries prices rose on Tuesday, pushing benchmark yields below 2 percent for the first time in over four weeks, as worries about the pace of global economic growth bolstered demand for safe-haven US government debt. Concerns about Europe's debt prob
Published 12 Apr, 2012 12:00am
US yields move to four-week low

US yields move to four-week low

US Treasuries prices rose on Tuesday, pushing benchmark yields below 2 percent for the first time in over four weeks, as worries about the pace of global economic growth bolstered demand for safe-haven US government debt. Concerns about Europe's debt prob
Published 12 Apr, 2012 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.21 percent on Wednesday, beating regional bourses, with Apple Inc supplier Hon Hai Precision Industry Co Ltd up 3.18 percent after saying its March sales rose 30 percent from a year earlier. The main TAIEX index ended up 15.99 points
Published 12 Apr, 2012 12:00am
Dow, S&P fall for fifth day, but Alcoa up late

Dow, S&P fall for fifth day, but Alcoa up late

The selloff in US stocks accelerated on Tuesday, as the Dow and S&P 500 dropped for a fifth day, with the pullback coming on the cusp of earnings season. The slide marked the S&P 500's worst day since December 8. The declines were the largest losses this
Published 12 Apr, 2012 12:00am
Wednesday's midday trade: Wall Street rebounds after five-day decline

Wednesday's midday trade: Wall Street rebounds after five-day decline

US stocks rose on Wednesday, bouncing back after five days of sharp losses that pushed the S&P 500 and the Nasdaq below their key technical levels. Sectors linked with economic growth led the way higher as their recently beaten-down prices made them attra
Published 12 Apr, 2012 12:00am
Australian shares drop

Australian shares drop

Australian shares fell 1.1 percent on Wednesday, a fourth straight day of losses which took them to a one-month low as miner BHP Billiton sank to its weakest since mid-2009. Global shares were stung as oil prices suffered their biggest percentage decline
Published 12 Apr, 2012 12:00am
Banks lead Saudi index rebound; Mobinil sale hopes lift Egypt's bourse

Banks lead Saudi index rebound; Mobinil sale hopes lift Egypt's bourse

Saudi stocks rebounded from a five-day slump on Wednesday as banks rose on strong earnings, and Egypt's Mobinil helped lift the bourse after surging on optimism over a deal for France Telecom to buy most of its shares. The kingdom's index rose for a first
Published 12 Apr, 2012 12:00am
British Prime Minister calls for arms sales to Indonesia

British Prime Minister calls for arms sales to Indonesia

Britain wants to sell "some of the best defence equipment in the world" to Indonesia, Prime Minister David Cameron said in an interview published Wednesday. Cameron, who was scheduled to arrive in Jakarta for a two-day visit, told Indonesia's leading Komp
Published 12 Apr, 2012 12:00am
Japan's machinery orders show surprise rise

Japan's machinery orders show surprise rise

Japan's core machinery orders rose unexpectedly in February, reinforcing expectations that rebuilding in the earthquake-battered north-east will bolster corporate spending and economic recovery although risks loom from a resurgent yen and wobbly overseas
Published 12 Apr, 2012 12:00am
OECD area unemployment rate steady, with 45 million jobless

OECD area unemployment rate steady, with 45 million jobless

About 45 million people qualify as unemployed in the 34 OECD countries, with the unemployment rate steady overall but highest in the eurozone, the OECD said on Wednesday. The overall rate was steady at 8.2 percent in February but the eurozone rate was 10.
Published 12 Apr, 2012 12:00am
ECB says can tackle symptoms but not cure crisis

ECB says can tackle symptoms but not cure crisis

As fresh concerns over Spain and Italy rattled the markets Wednesday, the European Central Bank insisted it can only treat the symptoms of the eurozone debt crisis, but not cure it. "The ECB has addressed the immediate symptoms but monetary policy cannot
Published 12 Apr, 2012 12:00am
BMW's March car sales break all monthly records

BMW's March car sales break all monthly records

BMW, the world's largest premium carmaker by volume, confirmed on Wednesday it enjoyed the highest ever first quarter demand on the back of March sales that broke all previous records as its three largest markets posted double-digit growth. Group sales in
Published 12 Apr, 2012 12:00am
Low returns dampen demand at German debt sale

Low returns dampen demand at German debt sale

Safe-haven Germany offered the lowest ever return of 1.75 percent on its 10-year government bonds on Wednesday, dampening demand for its debt despite concerns about Spain and Italy. Investors sold Spanish debt on Tuesday and yields jumped at an Italian bi
Published 12 Apr, 2012 12:00am
Low returns dampen demand at German debt sale

Low returns dampen demand at German debt sale

Safe-haven Germany offered the lowest ever return of 1.75 percent on its 10-year government bonds on Wednesday, dampening demand for its debt despite concerns about Spain and Italy. Investors sold Spanish debt on Tuesday and yields jumped at an Italian bi
Published 12 Apr, 2012 12:00am
Hitachi unveils motor without 'rare earths'

Hitachi unveils motor without 'rare earths'

Japanese high-tech firm Hitachi Wednesday unveiled an electric motor that does not use "rare earths", aiming to cut costs and reduce dependence on imports of the scarce minerals from China. The prototype 11 kilowatt motor does not use magnets containing r
Published 12 Apr, 2012 12:00am
Hitachi unveils motor without 'rare earths'

Hitachi unveils motor without 'rare earths'

Japanese high-tech firm Hitachi Wednesday unveiled an electric motor that does not use "rare earths", aiming to cut costs and reduce dependence on imports of the scarce minerals from China. The prototype 11 kilowatt motor does not use magnets containing r
Published 12 Apr, 2012 12:00am
Energy costs stir worries in US economic expansion

Energy costs stir worries in US economic expansion

US economic activity kept expanding moderately in the late winter months but rising energy prices were beginning to worry manufacturers and retailers across the country, the Federal Reserve said on Wednesday. "Reports from the 12 Federal Reserve districts
Published 12 Apr, 2012 12:00am
Global tax group raps India over retroactive changes

Global tax group raps India over retroactive changes

A global tax group on Wednesday added its voice to protests against an Indian plan to retroactively tax business deals, saying it could deter foreign investment in Asia's third-largest economy. The Indian government's move is seen as targeting British mob
Published 12 Apr, 2012 12:00am
US budget gap widens, reflects payment shifts

US budget gap widens, reflects payment shifts

The monthly US budget deficit widened to $198.16 billion in March from $188.15 billion in the same month a year earlier, partly because some benefit payments normally made in April were shifted to March, the Treasury Department said on Wednesday.
Published 12 Apr, 2012 12:00am
Japanese ship insurer sets new rules on Iran oil voyages

Japanese ship insurer sets new rules on Iran oil voyages

Ship owners covered by Japan P&I club must alert the maritime insurer in advance of any plans to transport Iranian oil and petrochemicals that could fall foul of Western sanctions, the insurer said. The United States and European Union have tightened meas
Published 12 Apr, 2012 12:00am
Myanmar set to open first stock exchange

Myanmar set to open first stock exchange

Myanmar is set to open its first official stock exchange in 2015 in cooperation with Asia's largest bourse as it prepares for an influx of investment following the end of decades of military rule. The Tokyo Stock Exchange said Wednesday that it had struck
Published 12 Apr, 2012 12:00am
Canada's housing starts speed up in March

Canada's housing starts speed up in March

Canadian housing starts grew faster than expected in March, led by a surge in construction of multiple units that fuelled concern about possible over-building in the Toronto condo market. Canada Mortgage and Housing Corporation (CMHC) said on Wednesday th
Published 12 Apr, 2012 12:00am
New Zealand business confidence improves, but rates on hold

New Zealand business confidence improves, but rates on hold

New Zealand business confidence rose in the three months to March as uneven and modest growth leaves the central bank with plenty of time before raising interest rates, a private think tank said on Wednesday. A net 13 percent of firms surveyed expected ge
Published 12 Apr, 2012 12:00am
Total could stop North Sea gas leak by end April

Total could stop North Sea gas leak by end April

A leak at Total's North Sea Elgin gas platform could be stopped by the end of April, if everything goes as planned, UK managing director Philippe Guys said in a newspaper interview. Guys told Scottish daily The Press and Journal that the French oil major
Published 12 Apr, 2012 12:00am
Snubbed TNK-BP executive plans comeback with oil minnow

Snubbed TNK-BP executive plans comeback with oil minnow

Maxim Barsky, the high-flying executive who quit BP's Russian joint venture in frustration at not being given its top job, is planning a comeback by buying into minnow Matra Petroleum and building it into a multi-billion dollar business. The 38-year-old R
Published 12 Apr, 2012 12:00am
Tug of war over rates decelerates trade activity on cotton market

Tug of war over rates decelerates trade activity on cotton market

Tug-of-war between buyers and sellers slowed down business activity on the cotton market on Wednesday, dealers said. The official spot rate was inert Rs 5500, they added. Prices of seedcotton in Sindh at Rs 1800-2300, and in the Punjab rates were at Rs 21
Published 12 Apr, 2012 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was higher and the July contract was inert on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida closed at Rs 785.70, but opened with 20 paisa gain at Rs 785.90, while, the July contract clo
Published 12 Apr, 2012 12:00am
French July-February wheat exports down

French July-February wheat exports down

France exported 993,195 tonnes of soft wheat in February, taking the volume since of the start of the 2011/12 season on July 1 to 11 million tonnes, down 15 percent on the same period last season, customs data showed on Wednesday. Shipments outside the Eu
Published 12 Apr, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 115,644 tonnes of cargo comprising1 73,158 tonnes of import cargo and 42,486 tonnes of export cargo including 3,257 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 73,158
Published 12 Apr, 2012 12:00am
Vietnam's second quarter rice exports to hit two million tonnes

Vietnam's second quarter rice exports to hit two million tonnes

Vietnam's rice exports in the second quarter ending in June could nearly double from the previous three months to 2 million tonnes, state media reported on Tuesday, due to expected higher demand from key buyers such as China and the Philippines. Vietnam e
Published 12 Apr, 2012 12:00am
Corn export premiums rise at US Gulf Coast

Corn export premiums rise at US Gulf Coast

Corn export premiums at the US Gulf Coast rose on Tuesday on tight nearby supplies and a lack of farmer selling after the futures plunged more than 2 percent, traders said. Corn export demand was moderate despite US Gulf prices at a premium of around $8 t
Published 12 Apr, 2012 12:00am
Lean business seen on grain market

Lean business seen on grain market

Slow business activity was seen on the wholesale grain market on Wednesday as many buyers kept on the sidelines due to less buying interest, dealers said. On the cereals side, Barley Sindh and Mardan lost Rs 500 to Rs 3000, Khandsari low quality drifted l
Published 12 Apr, 2012 12:00am
Canadian canola futures hit contract highs

Canadian canola futures hit contract highs

ICE Canadian canola futures set contract highs on Tuesday, taking their early strength from higher soybean prices and later from speculator buying, traders said. A US Department of Agriculture report lifted soybeans early as it cut estimates for soy produ
Published 12 Apr, 2012 12:00am
Oil World cuts Argentine, Brazil soya crop forecasts

Oil World cuts Argentine, Brazil soya crop forecasts

Hamburg-based oilseeds analyst Oil World said on Tuesday it has cut its forecast of Argentina's 2012 soyabean crop by 1.5 million tonnes and its estimate of Brazil's crop by 1.0 million tonnes after poor weather cut yields. The latest forecasts were down
Published 12 Apr, 2012 12:00am
US Midwest corn bids firm on river terminals

US Midwest corn bids firm on river terminals

Corn spot basis bids were firm at river terminals around the US Midwest on Tuesday and mostly steady at interior markets, supported from plunging futures and the continued light country offerings, grain merchants said. Farmer corn sales have been slow in
Published 12 Apr, 2012 12:00am
Kenyan tea prices rise

Kenyan tea prices rise

The average price for top Kenyan tea rose slightly to $3.38 per kg at this week's sale from $3.36 per kg last week, while the volume sold dropped, traders said on Tuesday. Kenya is the world's leading black tea exporter and the crop is the top foreign exc
Published 12 Apr, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 12 Apr, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 12 Apr, 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 Wednesday (April 11, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover f
Published 12 Apr, 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 12 Apr, 2012 12:00am
Unlawful input tax, audit cases: RTOs fail to feed data into 'TAMS'

Unlawful input tax, audit cases: RTOs fail to feed data into 'TAMS'

The Regional Tax Offices (RTOs) have not properly entered the data of unlawful input tax adjustments and cases selected for audit into the Tax Audit Monitoring System (TAMS), which was necessary under the audit plan. Sources told Business Recorder
Published 12 Apr, 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 Wednesday (April 11, 2012).

Published 12 Apr, 2012 12:00am
Unlawful input tax, audit cases: RTOs fail to feed data into 'TAMS'

Unlawful input tax, audit cases: RTOs fail to feed data into 'TAMS'

The Regional Tax Offices (RTOs) have not properly entered the data of unlawful input tax adjustments and cases selected for audit into the Tax Audit Monitoring System (TAMS), which was necessary under the audit plan. Sources told Business Recorder
Published 12 Apr, 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 Wednesday (April 11, 2012).

Published 12 Apr, 2012 12:00am
Unlawful input tax, audit cases: RTOs fail to feed data into ''TAMS''

Unlawful input tax, audit cases: RTOs fail to feed data into ''TAMS''

The Regional Tax Offices (RTOs) have not properly entered the data of unlawful input tax adjustments and cases selected for audit into the Tax Audit Monitoring System (TAMS), which was necessary under the audit plan. Sources told Business Recorder
Published 12 Apr, 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 Wednesday (April 11, 2012).

Published 12 Apr, 2012 12:00am
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