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Print - 2013-02-11
The Weather

The Weather

The weather report on Sunday (February 10, 2013) and the forecast for Monday (February 11, 2013).

Published 11 Feb, 2013 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (February 04 to February 08 2013).

Published 11 Feb, 2013 12:00am
Syrian exodus spurs building boom in refugee camp

Syrian exodus spurs building boom in refugee camp

Muscles aching, head pounding, Mohammed al-Haj grunted as he drove his pick-axe into the desert soil. Of the dozens of schools, bridges and apartment complexes he oversaw as an engineer in his native Syria, the 37-year-old Homs resident said his latest pr
Published 11 Feb, 2013 12:00am
Monetary imperatives and fiscal musings

Monetary imperatives and fiscal musings

Apropos BR editorial 'Why government first is not the right strategy', there is a growing realisation or frustration among the officials of Ministry of Finance that their political bosses often ignore advises proffered by State Bank of Pakistan. The fisca
Published 11 Feb, 2013 12:00am
What ails the SBP?

What ails the SBP?

The amendments made to Section 9 of the State Bank of Pakistan (SBP) Act in 1994, 1997 and 2012 have redefined the role and responsibilities of the Central Board of Directors of the SBP and imposed restrictions on government borrowing from the SBP. It is
Published 11 Feb, 2013 12:00am
PPPP and Punjab

PPPP and Punjab

President Zardari has moved into Bahria Town's reportedly one billion rupee palace constructed specially for him on Friday. He was accompanied by his son and co-chairman of the party Bilawal Bhutto.
Published 11 Feb, 2013 12:00am
MPS: realistic policy analysis

MPS: realistic policy analysis

As expected by most of the analysts, the State Bank of Pakistan has decided to keep the policy rate unchanged at 9.5 percent for the next two months. Unlike the Annual Report FY2012, SBP, in its monetary policy statement, decided not to mince words about
Published 11 Feb, 2013 12:00am
Ginners hoping to propel prices upwards

Ginners hoping to propel prices upwards

COTTON: Business on the cotton market remained strained as reports persisted that ginners were holding back on selling their stock on the current price levels. With precious few quantities of the better grade of fiber remaining in stock, ginners ar
Published 11 Feb, 2013 12:00am
'Lawyers play vital role in upholding rule of law'

'Lawyers play vital role in upholding rule of law'

Chief Justice of Lahore High Court Umar Ata Bandial has said that our lawyers played a distinguished role for upholding the rule of law in the country in the wake of lawyers' movement and this fact has been acclaimed the world over.
Published 11 Feb, 2013 12:00am
Hoti launches laptops distribution scheme in KP

Hoti launches laptops distribution scheme in KP

Chief Minister, Khyber Pakhtunkhwa, Amir Haider Khan Hoti Sunday formally launched the Laptops distribution in public sector universities and degree colleges in the province. The ceremony was held in the Convocation Hall, University of Peshawar.
Published 11 Feb, 2013 12:00am
Kuwait court frees former lawmakers convicted of insulting emir

Kuwait court frees former lawmakers convicted of insulting emir

A Kuwaiti court on Sunday released three former opposition lawmakers convicted of insulting the Gulf country's ruler, Kuwaiti media reported. A court last week sentenced Falah al-Sawagh, Khaled al-Tahus and Badr al-Dahum to three years in prison for defam
Published 11 Feb, 2013 12:00am
NASA rover drills into its first Martian rock

NASA rover drills into its first Martian rock

The Mars rover Curiosity drilled into the Martian surface for the first time as part of an effort to learn if the planet most like Earth in the solar system ever had conditions to support microbial life, NASA said on Saturday.
Published 11 Feb, 2013 12:00am
Israel signs off on 346 new West Bank settler homes

Israel signs off on 346 new West Bank settler homes

The Israeli defence ministry on Sunday confirmed it had given the green light for the construction of 346 new settler homes in two settlements in the southern West Bank, a statement said.
Published 11 Feb, 2013 12:00am
Car bomb kills five soldiers in Thai south

Car bomb kills five soldiers in Thai south

Five soldiers were killed Sunday in a bomb attack by suspected insurgents in Thailand's violence-wracked deep south, police said. The bomb, which also wounded a sixth soldier, was detonated as the troops passed by in their patrol vehicle in a village in Y
Published 11 Feb, 2013 12:00am
Bahrainis begin first reconciliation talks since July 2011

Bahrainis begin first reconciliation talks since July 2011

Bahrain's government and opposition began reconciliation talks on Sunday for the first time since July 2011 to try to end two years of political deadlock in the strategically vital Gulf Arab island kingdom.
Published 11 Feb, 2013 12:00am
South Sudan attack leaves over 100 dead

South Sudan attack leaves over 100 dead

More than 100 people have been killed in South Sudan in an attack by rebels and ethnic allies on a convoy of families from a rival tribe and their cattle, an official said on Sunday. Since breaking from Sudan in 2011, oil-producing South Sudan has struggl
Published 11 Feb, 2013 12:00am
Spain's ruling PP support lowest in 20 years

Spain's ruling PP support lowest in 20 years

Support for Spain's governing People's Party (PP) has fallen to the lowest level in 20 years, as the government struggles with a corruption scandal and economic recession, according to El Mundo newspaper on Sunday.
Published 11 Feb, 2013 12:00am
Wounded Armenian candidate wants to delay election

Wounded Armenian candidate wants to delay election

An Armenian presidential candidate who was shot has appealed for this month's election to be delayed to allow him more time to campaign, raising concerns over instability in the former Soviet republic. Paruyr Hayrikyan, who was shown on television looking
Published 11 Feb, 2013 12:00am
Saudi Arabia looks to buy patrol boats from German firm

Saudi Arabia looks to buy patrol boats from German firm

Saudi Arabia is looking into buying patrol boats worth 1.5 billion euros ($2 billion) from a German firm, and appears to have won the Berlin government's approval despite widespread public criticism of arms deals, a newspaper reported on Sunday.
Published 11 Feb, 2013 12:00am
Ukraine eyes IMF, Russian rescue from recession

Ukraine eyes IMF, Russian rescue from recession

Recession and crippling energy inefficiency compounded by a stiff Russian gas bill are turning Ukraine into an economic headache on the eastern edge of Europe with few prospects for a recovery this year. The ex-Soviet nation of 46 million - a one-time bre
Published 11 Feb, 2013 12:00am
German private sector expands at fastest rate since June '11

German private sector expands at fastest rate since June '11

Germany's private sector expanded at its fastest rate in more than 1-1/2 years in January, a survey showed on Tuesday, suggesting Europe's largest economy is on the road to recovery after shrinking in the fourth quarter of 2012.
Published 11 Feb, 2013 12:00am
ECB to hold rates steady amid market calm

ECB to hold rates steady amid market calm

The European Central Bank is set to keep interest rates on hold next week as it takes stock of the new-found calm on the financial markets, analysts predict. "The continued improvement in financial market conditions and surveys of economic activity has ta
Published 11 Feb, 2013 12:00am
Sufi shrine damaged in explosion

Sufi shrine damaged in explosion

An explosion damaged a Sufi shrine at Badaber, an outskirt of Peshawar city on Sunday, a private TV channel reported. According to details, police said the explosion occurred at the shrine of Akhwan Salaq Baba. The explosive material was planted beside th
Published 11 Feb, 2013 12:00am
Pak embassy celebrates Chinese New Year

Pak embassy celebrates Chinese New Year

On the occasion of Spring Festival marking start of the Chinese New Year, the embassy of Pakistan also put in its share in the festivities by participating in a Photo-Exhibition held here on Sunday.
Published 11 Feb, 2013 12:00am
EU welcomes Pakistan's commitment to stop polio

EU welcomes Pakistan's commitment to stop polio

The European Parliament has taken steps to support Pakistan in eradicating polio and protect medical aid workers in the country. A Parliamentary resolution was passed in Strasbourg which called the government of Pakistan to 'develop a new strategy to prot
Published 11 Feb, 2013 12:00am
JI condemns crackdown on young doctors

JI condemns crackdown on young doctors

Ameer, Jamaat-i-Islami, Pakistan, Syed Munawwar Hasan, has strongly condemned the police crackdown on the young doctors during their peaceful protest for their lawful demands. He called for stringent action against the police officers responsible for the
Published 11 Feb, 2013 12:00am
PPP sincere in creation of new province: Naek

PPP sincere in creation of new province: Naek

Federal Law Minister, Farooq H Naek on Sunday said that Pakistan Peoples Party (PPP) government is sincere about the creation of new province in Punjab and it has introduced a bill in the Senate on this issue here on Friday. Talking to German Ambassador,
Published 11 Feb, 2013 12:00am
Seat adjustment: PPP KP constitutes panel for Peshawar, Mardan

Seat adjustment: PPP KP constitutes panel for Peshawar, Mardan

PPP, Khyber Pakhtunkhwa on Sunday constituted a committee for seat adjustment in upcoming general elections for Peshawar and Mardan division, which will make contacts with different political parties. A meeting of the committee in this regard was held her
Published 11 Feb, 2013 12:00am
Five Pakistanis killed in Saudi Arabia

Five Pakistanis killed in Saudi Arabia

Five members of Pakistani origin UK based family including three women died in road accident here late Saturday night. According to details, Pakistani national Shaukat Hayat staying in UK to earn livelihood was coming to Saudi Arabia by road to perform Um
Published 11 Feb, 2013 12:00am
General Zia kept nuclear programme secret from GIK, Arif: Waheed

General Zia kept nuclear programme secret from GIK, Arif: Waheed

Former Pakistani Ambassador and former Chairman of National Assembly on Foreign Affairs Mian Abdul Waheed has disclosed that former President Zia ul Haq kept the actual position of nuclear programme of Dr A Q Khan secret from his closest kitchen cabinet m
Published 11 Feb, 2013 12:00am
180,000 Pakistanis to perform Hajj this year: Khursheed Shah

180,000 Pakistanis to perform Hajj this year: Khursheed Shah

Minister for Religious Affairs Syed Khursheed Ahmed Shah has announced that 180,000 Pakistanis would perform Hajj this year. The minister said that they have requested Saudi Minister for Hajj Dr Bandar bin Mohammad al-Hajjar to increase the Hajj quota for
Published 11 Feb, 2013 12:00am
Death anniversary of Sadequain observed

Death anniversary of Sadequain observed

Renowned Pakistani painter Sadequain's 26th death anniversary observed on Sunday to pay tribute to this unique brain in Art. Syed Sadequain Ahmed Naqvi was born in 1930 in Amroha, Uttar Pradesh, India. He had a prolific career and much of his work is disp
Published 11 Feb, 2013 12:00am
Number of defects in multiple births is on the rise

Number of defects in multiple births is on the rise

The number of birth defects among multiple births such as twins and triplets increased nearly two-fold in a score of European countries over a 24-year-period, according to an international study.
Published 11 Feb, 2013 12:00am
Study finds genetic cause for common heart ailment

Study finds genetic cause for common heart ailment

A genetic variation doubles the risk of developing calcium deposits in the heart, a common condition that, in severe cases, can narrow or block the aorta, according to a study published on February 06.
Published 11 Feb, 2013 12:00am
Earth-like planets may be closer than thought

Earth-like planets may be closer than thought

Scientists looking for habitable planets may not have to stray far from our galactic neighbourhood, said a new study on February 06, which calculated an Earth-size planet could be orbiting a red dwarf as near as 13 light years away.
Published 11 Feb, 2013 12:00am
Bionic eye gives hope to the blind

Bionic eye gives hope to the blind

After years of research, the first bionic eye has seen the light of day in the United States, giving hope to the blind around the world. Developed by Second Sight Medical Products, the Argus II Retinal Prosthesis System has helped more than sixty people r
Published 11 Feb, 2013 12:00am
Tuberculosis: prototype vaccine draws a blank

Tuberculosis: prototype vaccine draws a blank

The most promising vaccine to replace the world's 91-year-old tuberculosis jab does not protect against the disease, according to results released on February 04 of large-scale trials conducted among infants in South Africa.
Published 11 Feb, 2013 12:00am
'Light' sodas hike diabetes risk

'Light' sodas hike diabetes risk

Artificially-sweetened sodas have been linked to a higher risk of Type 2 diabetes for women than sodas sweetened with ordinary sugar, according to French research unveiled on February 07. "Contrary to conventional thinking, the risk of diabetes is higher
Published 11 Feb, 2013 12:00am
Air pollution linked to low birth weight

Air pollution linked to low birth weight

For pregnant women, breathing in air pollution from vehicles, heating and coal power plants increases the risk of having a low birth weight baby, an international study said on February 06.
Published 11 Feb, 2013 12:00am
Twitter buys firm tracking social network TV talk

Twitter buys firm tracking social network TV talk

Twitter announced on February 5 that it has bought Bluefin Labs to ride the trend of viewers using smartphones or tablet computers to chat at social networks about shows they are watching.
Published 11 Feb, 2013 12:00am
Internet users seeking more 'invisibility': study

Internet users seeking more 'invisibility': study

Consumer efforts to protect personal data and remain "invisible" online are leading to a "data blackhole" that could adversely impact digital advertisers, technology research firm Ovum said Wednesday. The move to seek "new tools that allow them to remain
Published 11 Feb, 2013 12:00am
Facebook fatigue prompts breaks from network: study

Facebook fatigue prompts breaks from network: study

More than half of US Facebook members have taken breaks from the leading social network, with the top reason being they are just too busy, according to a study released on February 5. About 61 percent of US users said they had taken time off from Facebook
Published 11 Feb, 2013 12:00am
Amazon virtual coin entices Kindle Fire app makers

Amazon virtual coin entices Kindle Fire app makers

Amazon unveiled a virtual currency on February 5 to enhance the potential for developers to make real money in games and other "apps" tailored for Kindle Fire tablet computers.
Published 11 Feb, 2013 12:00am
Wikipedia aims for billion users with mobile spread

Wikipedia aims for billion users with mobile spread

Wikipedia is aiming to use mobile phones to reach a billion people by 2015, a senior executive said on February 4, doubling the present number. The rapid spread of cellular networks in the developing world is providing fertile ground for this expansion, e
Published 11 Feb, 2013 12:00am
Key events in history of Dell

Key events in history of Dell

Dell, which unveiled plans on February 5 to take the former number one computer maker private in a buyout led by company founder Michael Dell worth $24.4 billion, has been a leading PC maker for three decades.
Published 11 Feb, 2013 12:00am
Tablets gain more ground on PCs: survey

Tablets gain more ground on PCs: survey

One-third of computers sold world-wide in the fourth quarter of 2012 was a tablet, according to a survey released on February 6. The research firm Canalys said that with PCs and tablets combined, the market grew 12 percent year-on-year in the last three m
Published 11 Feb, 2013 12:00am
Microsoft, Huawei team for African smartphone push

Microsoft, Huawei team for African smartphone push

Microsoft on February 5 announced a partnership with Chinese manufacturer Huawei to offer an affordably priced smartphone in Africa geared toward tapping into the continent's exploding mobile market. Introducing the phone at an event in Nigeria, Africa's
Published 11 Feb, 2013 12:00am
EU maps out new cyber-security plan

EU maps out new cyber-security plan

The European Commission on February 7 launched a new cyber-security plan, aimed at safeguarding vital information systems and bolstering the bloc's defences against a growing criminal threat. The plan calls on member states to set up specialised agencies
Published 11 Feb, 2013 12:00am
Google boosts mobile ad campaigns

Google boosts mobile ad campaigns

Google began on February 6 letting businesses target mobile ads based on how close smartphone users might be to shops or what they might be craving at certain times of day. Google began upgrading its AdWords service with "enhanced campaigns" for advertise
Published 11 Feb, 2013 12:00am
Instagram website frames users' pictures

Instagram website frames users' pictures

Facebook-owned Instagram on February 5 began letting a freshly launched website serve as a gallery for images taken by users of the smarrtphone photo-sharing service "Instagram, at its core, is about seeing and taking photos on-the-go," company co-founder
Published 11 Feb, 2013 12:00am
Online search ads expose racial bias: study

Online search ads expose racial bias: study

Ads pegged to Google search results can be racially biased because of how certain names are associated with blacks or whites, according to a new study published on February 4.
Published 11 Feb, 2013 12:00am
Oracle expands capacity with $2 billion Acme deal

Oracle expands capacity with $2 billion Acme deal

Oracle said on February 4 it was buying Acme Packet for $2.1 billion in cash, helping the business tech group expand its capacity to deliver voice, video and data over IP networks.
Published 11 Feb, 2013 12:00am
Alcatel chief executive to leave after company swings to 2012 loss

Alcatel chief executive to leave after company swings to 2012 loss

Alcatel-Lucent announced the departure of its chief executive after the telecom equipment maker swung to a full-year net loss of 1.37 billion euros ($1.85 billion), hit by lower sales in Europe and China, and an impairment charge.
Published 11 Feb, 2013 12:00am
Alcatel chief executive to leave after company swings to 2012 loss

Alcatel chief executive to leave after company swings to 2012 loss

Alcatel-Lucent announced the departure of its chief executive after the telecom equipment maker swung to a full-year net loss of 1.37 billion euros ($1.85 billion), hit by lower sales in Europe and China, and an impairment charge.
Published 11 Feb, 2013 12:00am
Volvo profits dive, expects weak start to 2013

Volvo profits dive, expects weak start to 2013

Swedish heavy truck and construction equipment maker Volvo expects a weak start to 2013 as orders decline due mainly to the crisis in Europe, the group said on February 06 as it announced plunging profits for 2012.
Published 11 Feb, 2013 12:00am
Volvo profits dive, expects weak start to 2013

Volvo profits dive, expects weak start to 2013

Swedish heavy truck and construction equipment maker Volvo expects a weak start to 2013 as orders decline due mainly to the crisis in Europe, the group said on February 06 as it announced plunging profits for 2012.
Published 11 Feb, 2013 12:00am
New York Times posts higher revenue on digital growth

New York Times posts higher revenue on digital growth

The New York Times Co on February 07 reported higher quarterly revenue as more people paid for its digital newspapers. Circulation revenue jumped 16.1 percent, mainly because of growth in digital subscriptions.
Published 11 Feb, 2013 12:00am
New York Times posts higher revenue on digital growth

New York Times posts higher revenue on digital growth

The New York Times Co on February 07 reported higher quarterly revenue as more people paid for its digital newspapers. Circulation revenue jumped 16.1 percent, mainly because of growth in digital subscriptions.
Published 11 Feb, 2013 12:00am
Hugo Boss says will grow faster than market in 2013

Hugo Boss says will grow faster than market in 2013

German fashion house Hugo Boss said it was confident of posting stronger growth than the luxury market in 2013 as it reported annual results at the top end of expectations.
Published 11 Feb, 2013 12:00am
Hugo Boss says will grow faster than market in 2013

Hugo Boss says will grow faster than market in 2013

German fashion house Hugo Boss said it was confident of posting stronger growth than the luxury market in 2013 as it reported annual results at the top end of expectations.
Published 11 Feb, 2013 12:00am
Vedanta to invest $200 million in Zambia's copper mine

Vedanta to invest $200 million in Zambia's copper mine

Zambia's Konkola Copper Mines (KCM), owned by London-listed Vedanta Resources Plc, plans to invest $200 million in an abandoned open pit mine which last produced copper in the 1970s, its chief executive said on February 07.
Published 11 Feb, 2013 12:00am
Dell to stick to current strategy as private company

Dell to stick to current strategy as private company

Dell Inc, which intends to go private in a $24.4 billion deal led by founder and Chief Executive Michael Dell, plans to stick to its current turnaround strategy to diversify away from personal computers.
Published 11 Feb, 2013 12:00am
SIA third-quarter net profit up 6.0 percent

SIA third-quarter net profit up 6.0 percent

Singapore Airlines (SIA) said on February 07 its third-quarter net profit rose six percent year-on-year as the sale of aircraft and spare engines as well as interest income offset the impact of a business slowdown.
Published 11 Feb, 2013 12:00am
SIA third-quarter net profit up 6.0 percent

SIA third-quarter net profit up 6.0 percent

Singapore Airlines (SIA) said on February 07 its third-quarter net profit rose six percent year-on-year as the sale of aircraft and spare engines as well as interest income offset the impact of a business slowdown.
Published 11 Feb, 2013 12:00am
Fujitsu plunges into huge loss, eyes job cuts

Fujitsu plunges into huge loss, eyes job cuts

Japan's Fujitsu said on February 07 that it lost almost $1.0 billion in the nine months to December and was looking into slashing 5,000 jobs world-wide as it struggles to compete with cheaper overseas competition. The sprawling company also cut its full-y
Published 11 Feb, 2013 12:00am
Fujitsu plunges into huge loss, eyes job cuts

Fujitsu plunges into huge loss, eyes job cuts

Japan's Fujitsu said on February 07 that it lost almost $1.0 billion in the nine months to December and was looking into slashing 5,000 jobs world-wide as it struggles to compete with cheaper overseas competition. The sprawling company also cut its full-y
Published 11 Feb, 2013 12:00am
Clarke's team wins IPL-inspired league in India

Clarke's team wins IPL-inspired league in India

Former British Open champion Darren Clarke on Sunday led his four-man team to victory in a franchise-based golf tournament inspired by cricket's Indian Premier League. Clarke's Uttarakhand Lions picked up the winner's cheque of $250,000 by a one-stroke ma
Published 11 Feb, 2013 12:00am
Ronaldo hat-trick eases Madrid past Sevilla

Ronaldo hat-trick eases Madrid past Sevilla

Cristiano Ronaldo scored his 20th hat-trick as a Real Madrid player as the Spanish champions cruised to a 4-1 victory over Sevilla on Saturday. Ronaldo was even involved in the goal he didn't score as he squared for Karim Benzema to open the scoring on 18
Published 11 Feb, 2013 12:00am
Voges ton sees Australia whitewash West Indies

Voges ton sees Australia whitewash West Indies

Australia bowled out West Indies for 257 to secure a 17-run victory and a 5-0 whitewash in their one-day international series on Sunday, thanks to a century from stand-in Adam Voges. The tourists had looked on target to chase down a 275-run target at the
Published 11 Feb, 2013 12:00am
Serena aims to regain top spot in Qatar

Serena aims to regain top spot in Qatar

Serena Williams will complete another remarkable achievement if she can regain the world number one ranking at the Qatar Open starting on Monday. The holder of 15 Grand Slam titles has not occupied the top spot for more than two and a half years after a s
Published 11 Feb, 2013 12:00am
India resolves Davis Cup row - for now

India resolves Davis Cup row - for now

India's top players on Sunday made themselves available for the next Davis Cup tie in April after inking a conditional truce with the country's tennis federation. Eleven players had declined to play in last week's Asia-Oceania group one tie against South
Published 11 Feb, 2013 12:00am
Barcelona hit Getafe for six

Barcelona hit Getafe for six

Barcelona extended their advantage at the top of La Liga to 12 points with an easy 6-1 win over Getafe on Sunday. The game was over as a contest inside 13 minutes as Alexis Sanchez slotted home from Andres Iniesta's through ball before Lionel Messi fired
Published 11 Feb, 2013 12:00am
Nadal reaches final of comeback tournament

Nadal reaches final of comeback tournament

Rafael Nadal looked sharp Saturday as he booked a finals berth in an ATP South American clay court tournament, his first event back from a seven-month injury absence. Nadal, seeded number one as a wildcard in the $410,200 tournament, needed just 64 minute
Published 11 Feb, 2013 12:00am
Czechs breeze past Australia to Fed Cup semis

Czechs breeze past Australia to Fed Cup semis

Petra Kvitova led holders Czech Republic into the Fed Cup semi-finals by giving them an unbeatable 3-0 lead with a three-set win over Australia's Samantha Stosur in the eastern Czech city of Ostrava on Sunday. In the clash of the teams' number-one players
Published 11 Feb, 2013 12:00am
Bayern fun factory produces 15-point lead

Bayern fun factory produces 15-point lead

Bayern Munich coach Jupp Heynckes saw his team stretch their Bundesliga lead to 15 points with a 4-0 rout of Schalke and attributed the success to the players' sense of fun. With second-placed Borussia Dortmund earlier losing 4-1 at home to Hamburg and Ba
Published 11 Feb, 2013 12:00am
N'Zogbia downs Hammers to boost Villa survival bid

N'Zogbia downs Hammers to boost Villa survival bid

Charles N'Zogbia inspired Aston Villa to a crucial 2-1 win over West Ham as the Premier League strugglers climbed out of the relegation zone on Sunday. Paul Lambert's team have endured a miserable campaign filled with embarrassing cup exits and woeful lea
Published 11 Feb, 2013 12:00am
US tax rules sour life for Americans abroad: expatriates

US tax rules sour life for Americans abroad: expatriates

Scott Schmith is a patriot and a US military veteran but he is no longer a US citizen: Sick of complex tax rules making his life in Switzerland miserable he recently handed back his passport. "It was a pretty big decision and there was a bit of anxiety,"
Published 11 Feb, 2013 12:00am
Investors who trample land rights risk bottom line: experts

Investors who trample land rights risk bottom line: experts

Companies that invest in land and resources in emerging economies risk financial and public relations disasters if local inhabitants feel they are getting ripped off, consultants warned in a report last week.
Published 11 Feb, 2013 12:00am
Doubts still on euro zone recapitalisaton for Irish banks: cenbank

Doubts still on euro zone recapitalisaton for Irish banks: cenbank

Moves to allow euro zone rescue funds such as the European Stability Mechanism to directly recapitalise a member nation's banks are 'encouraging', but a big question mark remains over whether they will apply retrospectively to the likes of Ireland, the co
Published 11 Feb, 2013 12:00am
Obama to lay out economic growth plan in State of Union speech

Obama to lay out economic growth plan in State of Union speech

President Barack Obama will describe his plan for spurring the economy in his State of the Union address on Tuesday, offering proposals for investments in infrastructure, manufacturing, clean energy and education, a senior administration official said on
Published 11 Feb, 2013 12:00am
Swiss private banking sector faces revolution

Swiss private banking sector faces revolution

The spectre of revolution is stalking the world of Swiss private banking, as two paragons of discretion, Pictet and Lombard Odier, prepare to open their books. The Geneva-based operations, founded over 200 years ago, have both decided to drop their specia
Published 11 Feb, 2013 12:00am
RBS boss in line for 780,000 stg bonus

RBS boss in line for 780,000 stg bonus

Royal Bank of Scotland will pay Chief Executive Stephen Hester a 780,000 pounds ($1.24 million) bonus deferred from three years ago while other executives see pay clawed back in the wake of the Libor rate rigging scandal, the Sunday Times newspaper said.
Published 11 Feb, 2013 12:00am
RBS boss in line for 780,000 stg bonus

RBS boss in line for 780,000 stg bonus

Royal Bank of Scotland will pay Chief Executive Stephen Hester a 780,000 pounds ($1.24 million) bonus deferred from three years ago while other executives see pay clawed back in the wake of the Libor rate rigging scandal, the Sunday Times newspaper said.
Published 11 Feb, 2013 12:00am
France's Renault recalling over 60,000 cars in China

France's Renault recalling over 60,000 cars in China

French carmaker Renault has started recalling over 60,000 cars exported to China due to problems with their fuel level sensors, state news agency Xinhua quoted the Chinese consumer watchdog as saying.
Published 11 Feb, 2013 12:00am
US S&P suit points to ratings industry's role in crisis

US S&P suit points to ratings industry's role in crisis

The US government's $5 billion lawsuit against Standard & Poor's for exaggerating mortgage bond ratings in 2007 has cast a pall over the ratings industry and exposed its role in the financial crisis.
Published 11 Feb, 2013 12:00am
Egyptians turn to black market for hard currency

Egyptians turn to black market for hard currency

A run on Egypt's pound has left foreign currency in short supply and driven some dealers into the streets in search of people with US dollars to sell, spawning a new black market.
Published 11 Feb, 2013 12:00am
Irish marchers protest nationwide against austerity

Irish marchers protest nationwide against austerity

Tens of thousands of people marched in six cities around Ireland on Saturday to protest against austerity measures, days after the government struck a vital deal on its bank debt. Prominent trade unionists and opposition members of parliament marched alon
Published 11 Feb, 2013 12:00am
Senior British MP calls for EU meat ban

Senior British MP calls for EU meat ban

The head of the British parliament's food affairs scrutiny panel on Sunday called for a ban on importing meat from EU countries until the horsemeat scandal is resolved. Anne McIntosh, chair of the lower House of Commons' Environment, Food and Rural Affair
Published 11 Feb, 2013 12:00am