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Print - 2010-04-05
Iran state owned bank plans $270 million bond issue

Iran state owned bank plans $270 million bond issue

An Iranian state bank will soon issue bonds worth 200 million euros ($269.7 million), the official IRNA news agency reported on Sunday, the latest move by the Islamic state to raise funds as it faces the threat of new UN sanctions.
Published 05 Apr, 2010 12:00am
Iran state owned bank plans $270 million bond issue

Iran state owned bank plans $270 million bond issue

An Iranian state bank will soon issue bonds worth 200 million euros ($269.7 million), the official IRNA news agency reported on Sunday, the latest move by the Islamic state to raise funds as it faces the threat of new UN sanctions.
Published 05 Apr, 2010 12:00am
US and China look to compromise on yuan

US and China look to compromise on yuan

Expectations are rising that China will revalue its currency after Washington held off on potential reprisals, but any adjustment may not be enough to mollify the anger of US lawmakers and firms.
Published 05 Apr, 2010 12:00am
UAE plans to set up federal credit bureau

UAE plans to set up federal credit bureau

The United Arab Emirates plans to set up a federal level credit bureau to provide credit information, a move that will ensure transparency in financial policy making, the ministry of finance said on Sunday.
Published 05 Apr, 2010 12:00am
Bangladesh central bank takes reverse repos at 2.5 percent

Bangladesh central bank takes reverse repos at 2.5 percent

Bangladesh central bank said on Sunday it accepted both bids it received for 5.95 billion taka ($86 million) in one-day reverse repo auctions, through which it absorbs excess cash from banks, at 2.50 percent.
Published 05 Apr, 2010 12:00am
German temporary employments report strong rebound

German temporary employments report strong rebound

Demand for temporary employment has rebounded from the recession and is nearing peaks recorded in the summer of 2008, the head of the BZA temp agency association said on Sunday. Volker Enkerts told Welt am Sonntag newspaper that there had been a sharp inc
Published 05 Apr, 2010 12:00am
Labour demand wage rises in joint Cairo protests

Labour demand wage rises in joint Cairo protests

Egyptian labour groups demanded a big rise in the minimum wage on Saturday to cope with rising prices, and some analysts said they could emerge as an influential force in national elections this year and next.
Published 05 Apr, 2010 12:00am
Over 30 indebted farmers commit suicide in India

Over 30 indebted farmers commit suicide in India

More than 30 debt-ridden farmers have committed suicide in India's western state of Maharashtra, a news report said Sunday. The suicides by cotton farmers were reported from Yavatmal, a district in the eastern region of Vidarbha that has been facing a far
Published 05 Apr, 2010 12:00am
Israel allows clothes, shoes into Gaza for traders

Israel allows clothes, shoes into Gaza for traders

Israel allowed a shipment of clothes and shoes for Palestinian traders into the Gaza Strip on Sunday for the first time in its almost three-year-old blockade of the Hamas-controlled enclave. An Israeli military spokesman said clothes and shoes had been al
Published 05 Apr, 2010 12:00am
Dubai's Emaar to roll over $1.23 billion debt

Dubai's Emaar to roll over $1.23 billion debt

Dubai developer Emaar Properties said it will roll over $1.23 billion debt maturing in 2010 into long-term project financing deals with analysts adding the pressure to make hasty divestments was now off. Emaar has 4.5 billion dirhams of loans maturing in
Published 05 Apr, 2010 12:00am
Kuwaiti company defaults on loan to UAE bank

Kuwaiti company defaults on loan to UAE bank

Kuwaiti investment company Gulfinvest International said on Sunday it has defaulted on a 200 million dirham ($54.47 million) loan to an Abu Dhabi bank, and its guarantor is in talks to restructure it. The loan from Abu Dhabi Commercial Bank and its intere
Published 05 Apr, 2010 12:00am
Former Credit Suisse head defends hefty bonuses

Former Credit Suisse head defends hefty bonuses

Former Credit Suisse head Oswald Gruebel defended the hefty bonus payout to its top managers in an interview with Swiss newspaper Sonntag, saying they are now being rewarded for making the bank what it is. Credit Suisse awarded Chief Executive Brady Douga
Published 05 Apr, 2010 12:00am
'Long way to go' in taming US joblessness: White House

'Long way to go' in taming US joblessness: White House

The United States has "a long way to go" in taming its stubbornly high unemployment rate, despite positive jobs creation news last week, top White House economic adviser Lawrence Summers said Sunday.
Published 05 Apr, 2010 12:00am
China's 'commercial practices' an issue

China's 'commercial practices' an issue

White House economic advisor Lawrence Summers on Sunday declined to say whether China was manipulating its currency but cited its "commercial practices" as a major issue. Appearing on CNN, Summers said, "There are clearly crucial issues with respect to co
Published 05 Apr, 2010 12:00am
ECB to hold first meeting since EU-Greece showdown

ECB to hold first meeting since EU-Greece showdown

European Central Bank governors meet this week to set monetary policy for the first time since EU leaders agreed to accept potential IMF help for Greece, despite strong objections by the ECB.
Published 05 Apr, 2010 12:00am
Abu Dhabi fund's new chief needs to find balance

Abu Dhabi fund's new chief needs to find balance

The new head of the world's biggest sovereign wealth fund, whose appointment is expected imminently, will need to find a balance between delivering consistent returns and conservative values, say industry observers.
Published 05 Apr, 2010 12:00am
Abu Dhabi fund's new chief needs to find balance

Abu Dhabi fund's new chief needs to find balance

The new head of the world's biggest sovereign wealth fund, whose appointment is expected imminently, will need to find a balance between delivering consistent returns and conservative values, say industry observers.
Published 05 Apr, 2010 12:00am
Pakistan beat India by eight wickets

Pakistan beat India by eight wickets

Pakistan embassy cricket team defeated its arch rival India by eight wickets in a match of friendly tournament organized by the International Security Assistance Forces (ISAF) here. The tournament was organized to support Afghan cricket team from Jalalaba
Published 05 Apr, 2010 12:00am
Keane gives Lennon second win as Celtic boss

Keane gives Lennon second win as Celtic boss

Robbie Keane gave Neil Lennon his second win as Celtic caretaker boss as his penalty secured a 1-0 victory over Hibernian on Sunday. Lennon, who replaced sacked manager Tony Mowbray last month, oversaw a 3-1 win over Kilmarnock in his first game and on-lo
Published 05 Apr, 2010 12:00am
Liverpool's hopes of fourth spot fading fast

Liverpool's hopes of fourth spot fading fast

Liverpool's chances of playing in the Champions League next season receded further on Sunday when a 1-1 draw at Birmingham City left them four points adrift of fourth spot in the Premier League. Steven Gerrard gave Liverpool the lead two minutes into the
Published 05 Apr, 2010 12:00am
Barca back on top as youngsters sink Bilbao

Barca back on top as youngsters sink Bilbao

Barcelona's Bojan Krkic scored twice in a 4-1 home win over Athletic Bilbao that put his side three points clear at the top of La Liga on Saturday. Bojan was a late replacement for Sweden striker Zlatan Ibrahimovic who injured his calf in the warm-up but
Published 05 Apr, 2010 12:00am
Haye targets Klitschkos after stopping Ruiz

Haye targets Klitschkos after stopping Ruiz

Britain's David Haye turned his sights on the Klitschko brothers after retaining his WBA heavyweight title in style on Saturday, stopping American John Ruiz in the ninth round in Manchester. The "Hayemaker", making his first title defence against a two-ti
Published 05 Apr, 2010 12:00am
Liang wins Chengdu Open in dramatic play-off

Liang wins Chengdu Open in dramatic play-off

A jubilant Liang Wenchong Sunday claimed the one-million-dollar Luxehills Chengdu Open after a gripping play-off victory over Korean Kim Hyung-Tae. Roared on by huge crowds, the Chinese golfer birdied the first extra hole on the par-five 18th to win at Lu
Published 05 Apr, 2010 12:00am
Hopkins beats Jones to scratch 17-year itch

Hopkins beats Jones to scratch 17-year itch

Bernard Hopkins won a unanimous decision against fellow American Roy Jones Jr. in tough fight on Saturday night, finally avenging a 1993 defeat in a long-delayed re-match. There were no knockdowns in a bout that was characterized by caution but punctuated
Published 05 Apr, 2010 12:00am
Clijsters crushes Venus in Miami final

Clijsters crushes Venus in Miami final

Belgian Kim Clijsters brought a swift end to Venus Williams's 15-match winning streak with a 6-2 6-1 win in the Sony Ericsson Open final on Saturday. The 14th seed needed only 58 minutes to defeat the third-seeded American, who played with bandaging on bo
Published 05 Apr, 2010 12:00am
England's Stupples grabs Kraft Nabisco lead

England's Stupples grabs Kraft Nabisco lead

England's Karen Stupples rolled in six birdies Saturday to seize a one-stroke lead over a star-studded field heading into final round of the season's first major championship. Stupples also had two bogeys in a four-under 68 to move to 10-under 206 total a
Published 05 Apr, 2010 12:00am
PFF announces competition system for NBP Football Cup

PFF announces competition system for NBP Football Cup

Pakistan Football Federation (PFF) has announced competition system for the 20th NBP National Football Challenge Cup to be played from 16-29 April 2010 at Multan's Qasim Bagh Stadium. According to PFF Operation Cell, the competition shall consist of two s
Published 05 Apr, 2010 12:00am
Vettel third time lucky for Red Bull

Vettel third time lucky for Red Bull

Sebastian Vettel stormed to victory at the Malaysian Grand Prix on Sunday, leading home a Red Bull one-two ahead of Mark Webber with Nico Rosberg completing the podium for Mercedes.
Published 05 Apr, 2010 12:00am
Companies sell junk bonds to fund bankruptcy exit

Companies sell junk bonds to fund bankruptcy exit

High-yield bonds may be "junk" but they can be golden for bankrupt companies seeking cash to fund their exit from bankruptcy and pay down debt. Reader's Digest Association Inc and chemicals maker Lyondell Chemical Co are two formerly bankrupt companies th
Published 05 Apr, 2010 12:00am
Companies sell junk bonds to fund bankruptcy exit

Companies sell junk bonds to fund bankruptcy exit

High-yield bonds may be "junk" but they can be golden for bankrupt companies seeking cash to fund their exit from bankruptcy and pay down debt. Reader's Digest Association Inc and chemicals maker Lyondell Chemical Co are two formerly bankrupt companies th
Published 05 Apr, 2010 12:00am
Carlyle eyes more Gulf deals, Saudi focus

Carlyle eyes more Gulf deals, Saudi focus

US private equity firm Carlyle Group is working on up to five deals in the Gulf region and expects many opportunities to come from oil-rich Saudi Arabia, the company's managing director for the region said. Saudi Arabia, which accounts for more than half
Published 05 Apr, 2010 12:00am
Carlyle eyes more Gulf deals, Saudi focus

Carlyle eyes more Gulf deals, Saudi focus

US private equity firm Carlyle Group is working on up to five deals in the Gulf region and expects many opportunities to come from oil-rich Saudi Arabia, the company's managing director for the region said. Saudi Arabia, which accounts for more than half
Published 05 Apr, 2010 12:00am
Chrysler sees sales gains from June

Chrysler sees sales gains from June

Chrysler expects steady US sales growth to start in June, the one-year anniversary of the automaker's emergence from bankruptcy, its US sales chief said on March 31. For March, the company expects US sales to fall between 10 percent and 13 percent from a
Published 05 Apr, 2010 12:00am
Chrysler sees sales gains from June

Chrysler sees sales gains from June

Chrysler expects steady US sales growth to start in June, the one-year anniversary of the automaker's emergence from bankruptcy, its US sales chief said on March 31. For March, the company expects US sales to fall between 10 percent and 13 percent from a
Published 05 Apr, 2010 12:00am
McDonald's sees 2,000 stores in China by 2013

McDonald's sees 2,000 stores in China by 2013

McDonald's Corp expects China to be the engine of growth in the Asia Pacific over the next five years and predicts a good first quarter for same-store sales in the Asia, Middle East and Africa region.
Published 05 Apr, 2010 12:00am
India's Reliance to tighten grip on world fuel markets

India's Reliance to tighten grip on world fuel markets

India's top privately run refiner Reliance is expected to raise crude oil imports by about 22 percent this year as it ramps up production at its giant complex, further stamping its mark on world markets.
Published 05 Apr, 2010 12:00am
Gazprom ramps up Asia energy trade presence

Gazprom ramps up Asia energy trade presence

Russia's Gazprom is ramping up its presence in Asia to trade liquefied natural gas, oil and source carbon offsets, as one of the world's biggest energy players seeks to tap the fastest-growing region. Gazprom formally launched its first commercial office
Published 05 Apr, 2010 12:00am
Kuwait's Zain nets $3.3 billion from Africa sale

Kuwait's Zain nets $3.3 billion from Africa sale

Kuwait's Zain telecom said it will post a net profit of 3.3 billion dollars from the sale of its African operations to India's Bharti Airtel for 10.7 billion dollars. Zain in a statement posted on the Kuwait Stock Exchange website said it expects to add t
Published 05 Apr, 2010 12:00am
Microsoft hurries out patch for IE hole

Microsoft hurries out patch for IE hole

Microsoft on March 30 released an emergency patch for a weakness hackers are exploiting in earlier versions of its Internet Explorer (IE) Web browser software. Microsoft routinely releases software patches the second Tuesday of each month and only resorts
Published 05 Apr, 2010 12:00am
Humanoid robot that laughs, smiles unveiled

Humanoid robot that laughs, smiles unveiled

Japanese researchers said on Saturday they have developed a humanoid robot that can laugh and smile as it mimics a person's facial expressions. The robot, Geminoid TMF, can move its rubber facial skin to imitate a smile, a laugh showing teeth, and a grim
Published 05 Apr, 2010 12:00am
Apple's iPad to come with 30,000 free books

Apple's iPad to come with 30,000 free books

Apple's iPad tablet computer will be available with 30,000 free books when it launches on April 3, according to Friday reports on a US technology website. According to the site Appadvice.com, which focuses on Apple products, the books will come from the f
Published 05 Apr, 2010 12:00am
Japan agrees to end cellphone SIM lock

Japan agrees to end cellphone SIM lock

Japan on April 2 agreed to end restrictions on mobile telephone users switching operators or using an overseas network by changing the SIM memory card, a report said. The communications ministry and the nation's four major mobile phone networks reached th
Published 05 Apr, 2010 12:00am
Tech giants unite in bid to strengthen privacy laws

Tech giants unite in bid to strengthen privacy laws

The world's largest technology companies have united in a call for stronger online privacy laws that would prevent police from accessing people's emails and other information stored remotely without the need for a warrant.
Published 05 Apr, 2010 12:00am
Google searches trigger error messages in China

Google searches trigger error messages in China

Google said on March 30 that many searches at its Chinese-language site failed to return results due to a glitch that misled China censors into thinking queries were for Radio Free Asia. "Lots of users in China have been unable to search on Google.com.hk
Published 05 Apr, 2010 12:00am
Amazon strikes twin electronic book deals

Amazon strikes twin electronic book deals

Amazon.com is letting two more major publishers raise prices of electronic books for Kindle readers in deals struck just days before Apple releases rival iPad computer tablets, the Wall Street Journal reported on March 31.
Published 05 Apr, 2010 12:00am
YouTube redesigns website to keep viewers captivated

YouTube redesigns website to keep viewers captivated

Google-owned YouTube on March 31 rolled out a major redesign aimed at clearing out visual noise and capturing the attention of viewers at the superstar video-sharing website.
Published 05 Apr, 2010 12:00am
IBM nurturing nascent technology startups

IBM nurturing nascent technology startups

IBM on March 31 launched a Global Entrepreneur initiative aimed at helping fledgling startups devoted to putting new technologies to work for traditional business or government operations.
Published 05 Apr, 2010 12:00am
Reviews praise Apple iPad battery life, ease of use

Reviews praise Apple iPad battery life, ease of use

Apple Inc's iPad scored well on battery life and ease of use in its first reviews, but it will not obliterate the laptop computer market yet, according to The New York Times and Wall Street Journal. Reviewers at both papers said the tablet computer, which
Published 05 Apr, 2010 12:00am
Asia faces disease threat from new viruses, animals

Asia faces disease threat from new viruses, animals

Asia faces twin health problems of infectious diseases stemming from animals and the emergence of drug-resistant strains of viruses that make treatment difficult, a World Health Organisation official said.
Published 05 Apr, 2010 12:00am
Rare cancer cells captured by imaging device

Rare cancer cells captured by imaging device

A microchip that captures and stores images of rare cancer cells circulating in the blood may provide a way to monitor patients after surgery and could eventually guide treatment, US researchers said in a study published on March 31.
Published 05 Apr, 2010 12:00am
El Nino phenomenon to die out by mid-year

El Nino phenomenon to die out by mid-year

Weather experts said on March 30 that El Nino, the weather anomaly that wrecks havoc around the Pacific and east Africa, has peaked and would disappear by mid-year. "The most likely outcome by mid-year 2010 is for the El Nino event to have decayed and nea
Published 05 Apr, 2010 12:00am
Massage: may help lift depression

Massage: may help lift depression

Massage therapy may help relieve symptoms of depression, a new review of the medical literature hints. The authors of the review, however, acknowledge difficulties with research on the effects of massage, including the fact that it's impossible to "blind"
Published 05 Apr, 2010 12:00am
75 countries set carbon emission targets for 2020: UN

75 countries set carbon emission targets for 2020: UN

Seventy-five countries accounting for more than 80 percent of greenhouse gases from energy use have filed pledges to cut or limit carbon emissions by 2020, the UN climate convention said on March 31.
Published 05 Apr, 2010 12:00am
Mega-flood triggered cooling 13,000 years ago: scientists

Mega-flood triggered cooling 13,000 years ago: scientists

Scientists say they have found the trigger of a sharp cooling 13,000 years ago that plunged Europe into a mini ice age. Mark Bateman from the University of Sheffield in England said a catastrophic flood unleashed from a giant North American lake dumped la
Published 05 Apr, 2010 12:00am
Moderate aerobic exercise strengthens immune system

Moderate aerobic exercise strengthens immune system

Regular aerobic exercise is a proven means of getting the body's immune system into gear. Markus Wanjek from a school for prevention and health management in Saarbruecken, Germany said outdoor activities in the fresh air such as jogging and Nordic walking
Published 05 Apr, 2010 12:00am
New drugs seen for tragic sleeping sickness

New drugs seen for tragic sleeping sickness

A consortium of scientists reported that they had identified new potential treatments to combat a form of sleeping sickness that kills around 30,000 Africans a year. The breakthrough entails disabling an enzyme essential for the parasite causing human Afr
Published 05 Apr, 2010 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (March 29 to April 03, 2010).

Published 05 Apr, 2010 12:00am
The Weather

The Weather

The weather report on Sunday (April 04, 2010) and the forecast for Monday (April 05, 2010).

Published 05 Apr, 2010 12:00am
Nawaz turns down invitation to attend joint session

Nawaz turns down invitation to attend joint session

Pakistan Muslim League-Nawaz chief Nawaz Shairf has turned down government's invitation to attend the joint sitting of Parliament as President Asif Zardari is all set to deliver the speech before a joint sitting on Monday to take the lead in announcing th
Published 05 Apr, 2010 12:00am
Nawaz turns down invitation to attend joint session

Nawaz turns down invitation to attend joint session

Pakistan Muslim League-Nawaz chief Nawaz Shairf has turned down government's invitation to attend the joint sitting of Parliament as President Asif Zardari is all set to deliver the speech before a joint sitting on Monday to take the lead in announcing th
Published 05 Apr, 2010 12:00am
THE RUPEE: all round downtrend

THE RUPEE: all round downtrend

The rupee drifted lower against both dollar and euro during the week ended on April 3, 2010. On the inter-bank market, the rupee lost 53 paisa against dollar for buying at 84.43 and 51 paisa for selling at 84.46. On the open market, the rupee felling 20 p
Published 05 Apr, 2010 12:00am
THE RUPEE: all round downtrend

THE RUPEE: all round downtrend

The rupee drifted lower against both dollar and euro during the week ended on April 3, 2010. On the inter-bank market, the rupee lost 53 paisa against dollar for buying at 84.43 and 51 paisa for selling at 84.46. On the open market, the rupee felling 20 p
Published 05 Apr, 2010 12:00am
Share market turns bullish

Share market turns bullish

The share market witnessed bullish trend during the week ended on April 3, 2010 on the back of strong interest of foreign investors, and the KSE-100 index surged by 278.59 points to close at 10,416.52 points level.
Published 05 Apr, 2010 12:00am
Share market turns bullish

Share market turns bullish

The share market witnessed bullish trend during the week ended on April 3, 2010 on the back of strong interest of foreign investors, and the KSE-100 index surged by 278.59 points to close at 10,416.52 points level.
Published 05 Apr, 2010 12:00am
Share market turns bullish

Share market turns bullish

The share market witnessed bullish trend during the week ended on April 3, 2010 on the back of strong interest of foreign investors, and the KSE-100 index surged by 278.59 points to close at 10,416.52 points level.
Published 05 Apr, 2010 12:00am
Small dams' construction: China urged to release $700 million

Small dams' construction: China urged to release $700 million

Pakistan has urged China to disburse $ 700 million loan, pledged for small and medium sized dams, that would enable mobilisation of contractors in an effort to mitigate the ongoing water and power shortages, Business Recorder has learnt.
Published 05 Apr, 2010 12:00am
Small dams' construction: China urged to release $700 million

Small dams' construction: China urged to release $700 million

Pakistan has urged China to disburse $ 700 million loan, pledged for small and medium sized dams, that would enable mobilisation of contractors in an effort to mitigate the ongoing water and power shortages, Business Recorder has learnt.
Published 05 Apr, 2010 12:00am
Small dams'' construction: China urged to release $700 million

Small dams'' construction: China urged to release $700 million

Pakistan has urged China to disburse $ 700 million loan, pledged for small and medium sized dams, that would enable mobilisation of contractors in an effort to mitigate the ongoing water and power shortages, Business Recorder has learnt.
Published 05 Apr, 2010 12:00am
ECC asks Finance to provide $150 million to TCP

ECC asks Finance to provide $150 million to TCP

The Economic Co-ordination Committee (ECC) of the Cabinet has directed the Finance Ministry to provide $ 150 million to the Trading Corporation of Pakistan (TCP) for opening letters of credit (LCs) and improving its financial position, sources in Industri
Published 05 Apr, 2010 12:00am
11,613 e-notices sent to sales tax return non-filers

11,613 e-notices sent to sales tax return non-filers

The Federal Board of Revenue (FBR) has issued 11,613 electronic notices to the non-filers of sales tax and federal excise returns for taking legal action against those who failed to file returns by March 31, 2010.
Published 05 Apr, 2010 12:00am
'Termite gangs' tunnel into third French bank

'Termite gangs' tunnel into third French bank

Would-be robbers armed with a pneumatic drill dug a tunnel from a Paris subway station into the basement of a bank in the early hours of Sunday but failed to seize any cash or valuables, a police source said. The attempted robbery of BNP Paribas is the th
Published 05 Apr, 2010 12:00am
Rebels kill seven Algerian security guards

Rebels kill seven Algerian security guards

Islamist rebels ambushed and killed at least seven Algerian security guards working for a Turkish company in the worst such attack in months, newspapers reported on Sunday. The guards came under fire in their vehicle late on Saturday in the mountainous re
Published 05 Apr, 2010 12:00am
IMF's head says world economy "not out of woods"

IMF's head says world economy "not out of woods"

International Monetary Fund head Dominique Strauss-Kahn said on Sunday the world economy was not "out of the woods" despite a faster recovery in developing and emerging countries than earlier forecast.
Published 05 Apr, 2010 12:00am
Fighters kill UN peacekeeper in north Congo attack

Fighters kill UN peacekeeper in north Congo attack

Dozens of unidentified fighters attacked a provincial capital in northern Democratic Republic of Congo in a battle that has so far left one UN peacekeeper dead, UN officials said.
Published 05 Apr, 2010 12:00am
British soldier killed in Afghan explosion

British soldier killed in Afghan explosion

A British soldier was killed by an explosion while on foot patrol Sunday in southern Afghanistan, the Ministry of Defence said. The serviceman, from 3rd Battalion The Rifles, was killed in the Kajaki area of Helmand Province.
Published 05 Apr, 2010 12:00am
IMF's head says world economy 'not out of woods'

IMF's head says world economy 'not out of woods'

International Monetary Fund head Dominique Strauss-Kahn said on Sunday the world economy was not "out of the woods" despite a faster recovery in developing and emerging countries than earlier forecast.
Published 05 Apr, 2010 12:00am
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