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Print - 2010-05-27
Iran and Russia clash in worst row for years

Iran and Russia clash in worst row for years

Iran and Russia clashed on Wednesday over Kremlin support for draft UN sanctions against the Islamic Republic, in one of the worst rows between the two powers since the Cold War. The public clash indicates growing concern in Tehran after the United States
Published 27 May, 2010 12:00am
US copper down

US copper down

US copper futures lost over 3 percent of their value by the close on Tuesday, as investors dumped riskier assets for the safety of the dollar amid ongoing concerns Europe's sovereign debt crisis could impact an already fragile global recovery.
Published 27 May, 2010 12:00am
New York cotton ends both ways

New York cotton ends both ways

US cotton futures settled mixed on Wednesday after investors sold the front-month contract and bought longer-dated positions to speculate on the further end of the fibre market. The key July cotton contract on ICE Futures fell 0.23 cent, or 0.3 percent, t
Published 27 May, 2010 12:00am
Terror blast in southern Russia kills five

Terror blast in southern Russia kills five

An explosion tore through the center of a southern Russian city on Wednesday, killing five people and wounding at least 20 as locals gathered for a Chechen dance concert, officials said. The blast bore the hallmarks of terrorist attacks that plague Russia
Published 27 May, 2010 12:00am
FBI arrests two on Disney insider trading charges

FBI arrests two on Disney insider trading charges

An assistant to a top executive at Walt Disney Co gave confidential information about Disney's quarterly earnings to a friend who in turn tried to sell it to hedge funds, US prosecutors said on Wednesday. The employee, Bonnie Hoxie, and her friend, Yonni
Published 27 May, 2010 12:00am
BP starts deep-sea bid to plug gushing oil well

BP starts deep-sea bid to plug gushing oil well

BP Plc launched a tricky deep-sea operation to choke off a gushing oil leak in the Gulf of Mexico on Wednesday, but President Barack Obama cautioned Americans there was no guarantee it would work. BP is under intense pressure from Obama to bring a swift e
Published 27 May, 2010 12:00am
Space shuttle Atlantis lands in Florida

Space shuttle Atlantis lands in Florida

The space shuttle Atlantis landed in Florida on Wednesday, capping a 12-day mission to deliver a new module to the International Space Station before NASA retires the shuttle fleet after two more flights.
Published 27 May, 2010 12:00am
US officials see China rethinking North Korea stance

US officials see China rethinking North Korea stance

China is rethinking its relationship with North Korea and may signal greater sympathy for South Korea over the sinking of one of its warships when Chinese Premier Wen Jiabao visits Seoul this week, US officials said on Wednesday.
Published 27 May, 2010 12:00am
Security, religion block Saudi rights progress: Amnesty

Security, religion block Saudi rights progress: Amnesty

Saudi Arabia has made minor progress on its dismal human rights record but the powerful state security apparatus and the conservative religious regime continue to block real change, Amnesty International said Wednesday.
Published 27 May, 2010 12:00am
UK appoints new minister to consider arms needs

UK appoints new minister to consider arms needs

Britain's new coalition government named former ministerial aide Peter Luff as defence equipment minister on Wednesday as a strategic review of the country's military and security needs gets under way. Conservative Party legislator Luff, 55, will be respo
Published 27 May, 2010 12:00am
New poll shows Obama approval rising

New poll shows Obama approval rising

A new poll Wednesday showed an upward tick in President Barack Obama's approval ratings as he faces a political storm over the Gulf oil spill and girds for crucial mid-term elections in November. The Quinnipiac University survey showed that 48 percent of
Published 27 May, 2010 12:00am
Central Asia dispute disrupts Nato Afghan supplies

Central Asia dispute disrupts Nato Afghan supplies

A dispute between Tajikistan and Uzbekistan has left hundreds of railway carriages with supplies for Nato troops in Afghanistan stranded in Central Asia, a Tajik railway official told Reuters. Nato uses Central Asia, an ex-Soviet Muslim region north of Af
Published 27 May, 2010 12:00am
North Korea makes new threats; Hillary leaves for Seoul

North Korea makes new threats; Hillary leaves for Seoul

North Korea threatened Wednesday to shut a border crossing and open fire on loudspeakers if South Korea makes good on its vow to blare out propaganda across the frontier in revenge for the sinking of a warship. US Secretary of State Hillary Clinton flew t
Published 27 May, 2010 12:00am
NYC government approves Ground Zero mosque

NYC government approves Ground Zero mosque

A New York community board has resoundingly backed a controversial plan for an Islamic cultural centre and mosque two blocks from Ground Zero. The non-binding vote by the Manhattan community board late Monday passed 29:1 with 10 abstentions in a strong en
Published 27 May, 2010 12:00am
Shanghai copper up

Shanghai copper up

Copper prices rose on Wednesday with Shanghai and London futures up more than 1 percent after steep losses in the previous session, buoyed by gains in oil and gold after sharp sell-offs. Benchmark third-month Shanghai copper rose 1.4 percent to close at 5
Published 27 May, 2010 12:00am
Britain reveals nuclear warhead levels

Britain reveals nuclear warhead levels

Britain's new government revealed Wednesday the planned size of its nuclear weapons stockpile, saying it will not exceed 225 warheads - a move cautiously welcomed by anti-nuclear campaigners. In an announcement coinciding with the end of a United Nations
Published 27 May, 2010 12:00am
Bangladesh, Indonesia and Iran top disaster risk rankings

Bangladesh, Indonesia and Iran top disaster risk rankings

Bangladesh, Indonesia and Iran are the countries that are the most vulnerable to natural disasters, according to a study released on Thursday. Asia's twin giants, China and India, join them in the 15 countries that, out of 229, are rated as "extreme" risk
Published 27 May, 2010 12:00am
Iraq to dissolve Iraqi Airways

Iraq to dissolve Iraqi Airways

Iraq's government said on Wednesday it would dissolve state-owned Iraqi Airways over the next three years and pursue private options to dodge asset claims made by Kuwait over their 1990-91 war. Iraqi Airways has halted flights to Britain and Sweden under
Published 27 May, 2010 12:00am
First US Patriot missile battery unveiled in Poland

First US Patriot missile battery unveiled in Poland

Polish and US officials unveiled on Wednesday the first battery of US surface-to-air Patriot-type missiles to be stationed on Polish soil, a move that has vexed Poland's communist-era master Russia. "We regard the deployment of the Patriot system in Polan
Published 27 May, 2010 12:00am
Argentina celebrates 200 years of its revolution

Argentina celebrates 200 years of its revolution

Two million people and eight heads of state from across South America took to the streets of the Argentine capital late into the night Tuesday in celebration of 200 years since its revolution. The leaders - including Brazil's Luiz Inacio Lula Da Silva, Ve
Published 27 May, 2010 12:00am
British soldier shot dead in Afghanistan

British soldier shot dead in Afghanistan

A British soldier was shot dead in southern Afghanistan on Wednesday, the Ministry of Defence in London said. The soldier, from 4th Regiment Royal Artillery, died from a gunshot wound sustained during a small arms fire engagement with insurgents in the Na
Published 27 May, 2010 12:00am
Maradona says he will run naked if Argentina wins

Maradona says he will run naked if Argentina wins

Diego Maradona has promised to run naked through the center of Buenos Aires if Argentina wins the World Cup. The Argentina coach made the promise during a radio show. The unpredictable Maradona was speaking a day after Argentina defeated Canada 5-0 Monday
Published 27 May, 2010 12:00am
Cash prizes for U-14 football team

Cash prizes for U-14 football team

Pakistan Football Federation (PFF) President Faisal Saleh Hayat will present cash prizes to the members of Pakistan U-14 team for their glorious display in AFC U-14 Festival of Football held at Al Quds Stadium, Hamedan City, Iran. The cash award ceremony
Published 27 May, 2010 12:00am
If fate allows I will play for Pakistan, says Yousuf

If fate allows I will play for Pakistan, says Yousuf

Pakistan former captain Mohammad Yousuf said he would review his verdict to retire from international cricket only if his "elders" give him the permission to do this. "If fate allows I will play for Pakistan again but only if my elders give me permission,
Published 27 May, 2010 12:00am
Modi demands independent inquiry panel

Modi demands independent inquiry panel

Suspended IPL commissioner Lalit Modi wanted the inquiry committee that will investigate corruption allegations against him to not contain senior Indian cricket board officials. Modi told the Press Trust of India on Wednesday that BCCI president Shashank
Published 27 May, 2010 12:00am
Sheikhupura win in NBP cricket tournament

Sheikhupura win in NBP cricket tournament

A brilliant century by opener Nadeem Javed helped Sheikhupura White to beat Sayid Paper Mills Stags by 208 runs in the opening match of seventh 7th NBP Punjab Invitation Cricket Tournament. Sheikhupura made 328-4 in allotted 40 overs with Nadeem Javed 118
Published 27 May, 2010 12:00am
Amir to lead Punjab University in swimming championship

Amir to lead Punjab University in swimming championship

National swimmer and a student of Punjab University Hailey College of Banking and Finance (HCBF), Muhammad Amir has been selected in the PU swimming team. Amir will represent the Punjab University in All Pakistan Inter-Universities Swimming Championship,
Published 27 May, 2010 12:00am
County player in England approached to fix matches

County player in England approached to fix matches

England captain Andrew Strauss has called on county players to use self-policing to make sure the domestic game is purged of the threat of match-fixing. Strauss was reacting to a report in England on Wednesday, which featured a county cricketer claiming h
Published 27 May, 2010 12:00am
Gold gains in Asia

Gold gains in Asia

Gold made modest gains on Wednesday as safe-haven buying intensified over European debt worries and mounting tension on the Korean peninsula, prompting a leap in private-sector investment in bullion. Platinum group metals, sensitive to vehicle manufacturi
Published 27 May, 2010 12:00am
Cop, PO killed in encounter

Cop, PO killed in encounter

A constable and a proclaimed offender were killed in cross firing in a nearby village of Chhanga Manga on Wednesday. According to police, a team of Khuddian police station, on a tip-off, raided Chak-33 to arrest proclaimed offender Ranjha alias Ranjhi. On
Published 27 May, 2010 12:00am
Fire erupts in Margalla hills' forest

Fire erupts in Margalla hills' forest

A massive fire erupted in the forest of Margalla hills on Wednesday where 16 CDA fire fighters busy in extinguishing fell unconscious in dense smoke cloud due to suffocation. The fire first erupted on hills adjoining Khanpur, which gradually spread to ove
Published 27 May, 2010 12:00am
Blasphemous cartoons: LHCBA asks government to raise issue with UN

Blasphemous cartoons: LHCBA asks government to raise issue with UN

The members of Lahore High Court Bar Association (LHCBA) here Wednesday observed a token strike and also took out a procession to protest against the competition of blasphemous cartoons. The lawyers held general house meeting after which a procession was
Published 27 May, 2010 12:00am
Presidential pardon: petitioner asked to file separate petition

Presidential pardon: petitioner asked to file separate petition

The Lahore High Court (LHC) on Wednesday directed a petitioner to file a separate petition to challenge the presidential pardon given to Sajjad Haider, co-accused with Interior Minister Rehman Malik. The court, however, allowed the appellant to place on r
Published 27 May, 2010 12:00am
Transfers and postings

Transfers and postings

Chief Justice Lahore High Court made transfers and postings among nine judicial officers. According to a notification issued here senior civil judge Wajih-du-Din Tariq has been transferred from Rajanpur to Layyah, Bashir Ahmad Chaudhry from R Y Khan to Ra
Published 27 May, 2010 12:00am
Facebook fuels American flag business

Facebook fuels American flag business

In Pakistan a row about Facebook, censorship and religious sacrilege means booming demand for replica American and Israeli flags to go up in flames at protest rallies. That means one thing for 31-year-old Mamoon ur Rasheed - business - and he is working l
Published 27 May, 2010 12:00am
Eunuch tells court wedding claims 'conspiracy'

Eunuch tells court wedding claims 'conspiracy'

A furious eunuch at the centre of a scandal in north-west country told a court on Wednesday that police allegations claiming the teenager married a middle-aged businessman were a "conspiracy". Kashif, who goes by the name Rani, and 42-year old fertiliser
Published 27 May, 2010 12:00am
US MIDDAY: gold gains

US MIDDAY: gold gains

US gold futures moved up early on Wednesday as investors continued to seek safety in a hard asset, given ongoing concerns about European sovereign debt and related currency volatility. COMEX June gold gains $13.50 to $1,211.50 an ounce on the New York Mer
Published 27 May, 2010 12:00am
US MIDDAY: copper jumps

US MIDDAY: copper jumps

US copper futures jumped more than 2 percent early Wednesday, after a double-dose of US economic data reflected a resilient recovery in the world's largest economy amid an ongoing debt crisis in Europe. Copper for July delivery up 6.95 cents, or 2.3 perce
Published 27 May, 2010 12:00am
US MIDDAY: corn, soyabeans and wheat up

US MIDDAY: corn, soyabeans and wheat up

Corn, soyabean and wheat futures on the Chicago Board of Trade were higher in early moves, bouncing back from a sell-off on Tuesday along with crude oil and US equity markets, traders said. CBOT corn drew independent support from news that China may issue
Published 27 May, 2010 12:00am
US MIDDAY: coffee climbs

US MIDDAY: coffee climbs

Arabica coffee futures jumped early Wednesday, while raw sugar inched higher and US cocoa turned down. Arabica coffee futures jumped to an eight-day high as the commodity complex and world stock markets bounced. July arabicas rose 1.55 cent or 1.2 percent
Published 27 May, 2010 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose in on Wednesday as volatility in the currency markets and fears about the outlook for the euro prompted buying of the precious metal as a haven from risk. Interest in physical gold remained high, with holdings of the world's largest gold exchang
Published 27 May, 2010 12:00am
DGI&I has secret fund to give monetary benefits to informers: FBR

DGI&I has secret fund to give monetary benefits to informers: FBR

Chairman Federal Board of Revenue (FBR) Sohail Ahmed said on Wednesday that Directorate General of Intelligence and Investigation (DGI&I) has a secret fund to give monetary benefits to the informers, who particularly are engaged in smuggling of goods, whi
Published 27 May, 2010 12:00am
US gold moves up

US gold moves up

US gold futures finished with moderate gains on Tuesday in a safe-haven play, but platinum group metals fell sharply, as investors feared credit issues in Europe could eventually spread out to the broader economy. COMEX June gold ended $4.0 higher at $1,1
Published 27 May, 2010 12:00am
Oil leaps four percent

Oil leaps four percent

Oil prices jumped nearly 4 percent on Wednesday, their biggest gain in over three months, as bargain-hunting lifted Wall Street and government data showed a big bounce in US oil demand. A cautious recovery in risk appetite aided oil along with US stocks a
Published 27 May, 2010 12:00am
US soyabeans down

US soyabeans down

US soyabean futures closed lower on Tuesday, falling to two-month lows, on pressure from a turn to warmer and drier US weather, which should boost crop prospects, a firm dollar, lower crude oil and falling equities markets. CBOT July down 10 cents per bus
Published 27 May, 2010 12:00am
Liffe cocoa soars

Liffe cocoa soars

September cocoa on Liffe ended 16 pounds higher at 2,344 pounds a tonne on Wednesday. Market boosted by talk that supplies of tenderable quality cocoa look set to remain tight until late this year which has seen nearby premiums widen significantly.
Published 27 May, 2010 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures rose on Wednesday, paring a 2 percent decline made the previous day as oil prices gained and Asian stock markets climbed after a recent broad sell-off on Europe's debt problems. Tight supply in the physical rubber market gave support
Published 27 May, 2010 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian palm oil futures ended higher on Wednesday, countering a decline of more than 2 percent the previous day, as crude oil rose on signs a US supply glut will ease. The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchan
Published 27 May, 2010 12:00am
Indonesian palm trades

Indonesian palm trades

Indonesia has raised the June base export price for crude palm oil and its by products, while the tax rate for the vegetable oil remained unchanged at 4.5 percent from the previous month. Base export price for crude palm oil rose to $754 per tonne for Jun
Published 27 May, 2010 12:00am
New York sugar higher

New York sugar higher

Sugar futures closed fractionally higher on Tuesday, bouncing up from negative territory with help from physical buying. Raw sugar futures fell more than 3 percent, with the July contract dropping below 15 cents per lb, but reversed to close higher on con
Published 27 May, 2010 12:00am
US rice lower

US rice lower

US rice futures closed mostly lower on Tuesday on pressure from a strong dollar and falling equities. Good US rice crop weather also weighs. CBOT July down 45 cents per cwt at $11.62. USDA said 68 percent of the US rice crop was rated good to excellent, u
Published 27 May, 2010 12:00am
Copper rises over two percent

Copper rises over two percent

Rising equity markets and robust macroeconomic data from the United States boosted copper over 2 percent on Wednesday, but it trimmed some gains as the euro lost ground on the back of persistent debt problems in the eurozone.
Published 27 May, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 26, 2010).

Published 27 May, 2010 12:00am
CCP conducts search of PPA offices

CCP conducts search of PPA offices

The Competition Commission of Pakistan (CCP) has conducted search and inspection of the offices of Pakistan Poultry Association in Karachi, Lahore, and head office in Islamabad, and impounded certain documents/files, minutes of meetings and computerised r
Published 27 May, 2010 12:00am
CCP conducts search of PPA offices

CCP conducts search of PPA offices

The Competition Commission of Pakistan (CCP) has conducted search and inspection of the offices of Pakistan Poultry Association in Karachi, Lahore, and head office in Islamabad, and impounded certain documents/files, minutes of meetings and computerised r
Published 27 May, 2010 12:00am
CCP conducts search of PPA offices

CCP conducts search of PPA offices

The Competition Commission of Pakistan (CCP) has conducted search and inspection of the offices of Pakistan Poultry Association in Karachi, Lahore, and head office in Islamabad, and impounded certain documents/files, minutes of meetings and computerised r
Published 27 May, 2010 12:00am
Iran may escape censure at nuclear treaty meeting

Iran may escape censure at nuclear treaty meeting

Iran may escape censure at a meeting of the 189 signatories of a global anti-nuclear arms pact, despite growing concerns that Tehran might be developing atomic weapons, according to a draft declaration. The United States and other countries say Iran is in
Published 27 May, 2010 12:00am
Iran may escape censure at nuclear treaty meeting

Iran may escape censure at nuclear treaty meeting

Iran may escape censure at a meeting of the 189 signatories of a global anti-nuclear arms pact, despite growing concerns that Tehran might be developing atomic weapons, according to a draft declaration. The United States and other countries say Iran is in
Published 27 May, 2010 12:00am
CoAS visits Kabul

CoAS visits Kabul

The Chief of Army Staff (CoAS), General Ashfaq Parvez Kayani on Wednesday visited Kabul on the invitation of General Stanely A. McChrystal, Commander International Security Assistance Force (ISAF) in Afghanistan. He remained with Commander ISAF for someti
Published 27 May, 2010 12:00am
CoAS visits Kabul

CoAS visits Kabul

The Chief of Army Staff (CoAS), General Ashfaq Parvez Kayani on Wednesday visited Kabul on the invitation of General Stanely A. McChrystal, Commander International Security Assistance Force (ISAF) in Afghanistan. He remained with Commander ISAF for someti
Published 27 May, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 27 May, 2010 12:00am
Used lube oil import: MoC bigwigs grilled by National Assembly panel

Used lube oil import: MoC bigwigs grilled by National Assembly panel

The National Assembly's Standing Committee on Commerce has grilled the Commerce Ministry's top brass for allowing the import of 10 million tons of banned used lube oil/furnace oil reportedly to a Multan-based fake company without prior due diligence.
Published 27 May, 2010 12:00am
Used lube oil import: MoC bigwigs grilled by National Assembly panel

Used lube oil import: MoC bigwigs grilled by National Assembly panel

The National Assembly's Standing Committee on Commerce has grilled the Commerce Ministry's top brass for allowing the import of 10 million tons of banned used lube oil/furnace oil reportedly to a Multan-based fake company without prior due diligence.
Published 27 May, 2010 12:00am
Used lube oil import: MoC bigwigs grilled by National Assembly panel

Used lube oil import: MoC bigwigs grilled by National Assembly panel

The National Assembly''s Standing Committee on Commerce has grilled the Commerce Ministry''s top brass for allowing the import of 10 million tons of banned used lube oil/furnace oil reportedly to a Multan-based fake company without prior due diligence.
Published 27 May, 2010 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 27 May, 2010 12:00am
$4 billion has been budgeted as foreign aid

$4 billion has been budgeted as foreign aid

The government has budgeted for around $4 billion economic assistance from multilateral and bilateral sources for 2010-11, including the 1.5 billion dollars under the Kerry Lugar bill, 2.2 billion dollars less than what was optimistically budgeted for 200
Published 27 May, 2010 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 27 May, 2010 12:00am
$4 billion has been budgeted as foreign aid

$4 billion has been budgeted as foreign aid

The government has budgeted for around $4 billion economic assistance from multilateral and bilateral sources for 2010-11, including the 1.5 billion dollars under the Kerry Lugar bill, 2.2 billion dollars less than what was optimistically budgeted for 200
Published 27 May, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 27 May, 2010 12:00am
$4 billion has been budgeted as foreign aid

$4 billion has been budgeted as foreign aid

The government has budgeted for around $4 billion economic assistance from multilateral and bilateral sources for 2010-11, including the 1.5 billion dollars under the Kerry Lugar bill, 2.2 billion dollars less than what was optimistically budgeted for 200
Published 27 May, 2010 12:00am
New British foreign minister to visit Pakistan

New British foreign minister to visit Pakistan

British Foreign Secretary William Hague will visit Pakistan "in the next few weeks" he said Wednesday, pledging to work more closely with Islamabad on Afghanistan and other issues. Prime Minister David Cameron's new coalition government would pursue a "br
Published 27 May, 2010 12:00am
New British foreign minister to visit Pakistan

New British foreign minister to visit Pakistan

British Foreign Secretary William Hague will visit Pakistan "in the next few weeks" he said Wednesday, pledging to work more closely with Islamabad on Afghanistan and other issues. Prime Minister David Cameron's new coalition government would pursue a "br
Published 27 May, 2010 12:00am
234,977 cusecs water released from reservoirs

234,977 cusecs water released from reservoirs

The Indus River System Authority (Irsa) on Wednesday released 234,977 cusecs water from various rim stations with inflow of 222,293 cusecs. According to the data released by Irsa here, the maximum water level in River Indus at Tarbela was 1392.00 feet, wh
Published 27 May, 2010 12:00am
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