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Jun 07, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-07-17
Cotton market: rates up on hectic buying by mills

Cotton market: rates up on hectic buying by mills

Prices maintained upward journey on the cotton market on Tuesday as mills and spinners both indulge in fresh buying on rising anticipation that rates may go up gradually amid tight supply, dealers said. The official spot rate was unchanged at Rs 6,600, th
Published 17 Jul, 2013 12:00am
Vietnam slashes trade deficit forecast to $3-4 billion

Vietnam slashes trade deficit forecast to $3-4 billion

Vietnam's trade ministry has slashed its 2013 trade deficit forecast to $3-4 billion from more than $9 billion seen earlier, due to increased exports, state media reported on Tuesday. Vietnam, which posted its first annual trade surplus in two decades las
Published 17 Jul, 2013 12:00am
Canada's factory sales recover partially

Canada's factory sales recover partially

Canadian factory sales in May rose by 0.7 percent from April, making up some of the ground they lost during a plunge the previous month, Statistics Canada said on Tuesday. The advance - just the second in five months - matched analysts' predictions. Stats
Published 17 Jul, 2013 12:00am
Chevron wants more dialogue on Poland shale gas rules

Chevron wants more dialogue on Poland shale gas rules

Energy major Chevron said on Tuesday it was committed to shale gas exploration in Poland though it wanted more consultation with the government on draft amendments to rules before they are adopted. Three foreign firms - Exxon Mobil, Talisman and Marathon
Published 17 Jul, 2013 12:00am
South Korea says US must consider global effects of QE exit

South Korea says US must consider global effects of QE exit

South Korea said on Tuesday it will press the United States at G20 meetings in Moscow this week to consider the repercussions for the global economy when the Federal Reserve decides to wind down its quantitative easing programme. The issues surrounding an
Published 17 Jul, 2013 12:00am
Brazil oil agency could make OGX drill more wells

Brazil oil agency could make OGX drill more wells

Brazil's oil regulator said it may tell entrepreneur Eike Batista's oil company OGX, already struggling under a mountain of debt, to invest in drilling more wells at offshore fields that the firm has dismissed as uncommercial. OGX, once Brazil's second-la
Published 17 Jul, 2013 12:00am
AstraZeneca finance chief Lowth to quit for BG Group

AstraZeneca finance chief Lowth to quit for BG Group

Simon Lowth is to quit as chief financial officer at AstraZeneca and return to his energy roots in the same role at BG Group after being passed over for the top job at the drugmaker. Lowth, who will be 52 in August, is leaving one company faced with a tur
Published 17 Jul, 2013 12:00am
Turkey signals rate rise, lira rallies

Turkey signals rate rise, lira rallies

The Turkish central bank, which spent about $6.0 billion on defending the lira last week, signalled on Monday that it might raise interest rates to support the currency. In afternoon trading on Monday the lira, which had fallen by about 10.0 percent since
Published 17 Jul, 2013 12:00am
China adds 7.25 million jobs in first half, job market stable

China adds 7.25 million jobs in first half, job market stable

China added 7.25 million jobs in the first half of this year, slightly higher than the number created in the same period a year earlier, and the job market remains stable, the official Xinhua news agency said on Tuesday. The Xinhua report quoted Yin Weimi
Published 17 Jul, 2013 12:00am
China's Premier signals caution over policy easing

China's Premier signals caution over policy easing

Chinese Premier Li Keqiang said on Tuesday the government should not rush into changing policy as long as economic growth stays within the official comfort zone, although it needs to be vigilant about a sharper slowdown. The government is able to achieve
Published 17 Jul, 2013 12:00am
Auditors attack EU over multi-million subsidy waste

Auditors attack EU over multi-million subsidy waste

The European Court of Auditors (ECA) criticised the EU Tuesday for widespread waste in a programme worth hundreds of millions of euros in subsidies to shift freight from roads to rail or water. The environmentally friendly 10-year-old "Marco Polo" policy,
Published 17 Jul, 2013 12:00am
Foreigners keep selling US assets; private outflows rise

Foreigners keep selling US assets; private outflows rise

Foreigners sold long-dated US securities for a fourth straight month in May, US Treasury data showed on Tuesday, with net private outflows rising to their largest since November 2008. Private investors sold $29 billion in US Treasury bonds in May, the lar
Published 17 Jul, 2013 12:00am
Foreigners keep selling US assets; private outflows rise

Foreigners keep selling US assets; private outflows rise

Foreigners sold long-dated US securities for a fourth straight month in May, US Treasury data showed on Tuesday, with net private outflows rising to their largest since November 2008. Private investors sold $29 billion in US Treasury bonds in May, the lar
Published 17 Jul, 2013 12:00am
Goldman Sachs profit doubles on investment gains

Goldman Sachs profit doubles on investment gains

Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank's own money. The investing and lending segment, which tracks the bank's investments in debt and equity markets, pro
Published 17 Jul, 2013 12:00am
Goldman Sachs profit doubles on investment gains

Goldman Sachs profit doubles on investment gains

Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank's own money. The investing and lending segment, which tracks the bank's investments in debt and equity markets, pro
Published 17 Jul, 2013 12:00am
India makes risky bet with rupee defence

India makes risky bet with rupee defence

India's boldest attempt yet to prevent a rout in the rupee delivered only a modest lift in the currency but shares slumped and bond yields jumped as investors worried that policymakers might overplay their hand and damage economic growth. The government s
Published 17 Jul, 2013 12:00am
India makes risky bet with rupee defence

India makes risky bet with rupee defence

India's boldest attempt yet to prevent a rout in the rupee delivered only a modest lift in the currency but shares slumped and bond yields jumped as investors worried that policymakers might overplay their hand and damage economic growth. The government s
Published 17 Jul, 2013 12:00am
Coke profit falls on wet weather, weak economy

Coke profit falls on wet weather, weak economy

Coca-Cola Co said Tuesday that second-quarter sales were weaker than expected as global economic weakness and cool weather crimped the consumption of soft drinks, sending its shares down more than 2 percent. The company said sales volume rose 1 percent, w
Published 17 Jul, 2013 12:00am
Coke profit falls on wet weather, weak economy

Coke profit falls on wet weather, weak economy

Coca-Cola Co said Tuesday that second-quarter sales were weaker than expected as global economic weakness and cool weather crimped the consumption of soft drinks, sending its shares down more than 2 percent. The company said sales volume rose 1 percent, w
Published 17 Jul, 2013 12:00am
IMF says East Europe probably past the worst of crisis

IMF says East Europe probably past the worst of crisis

International Monetary Fund chief Christine Lagarde on Tuesday praised Eastern Europe for its "courage" in addressing economic crises since 2008, stressing that "the worst is most likely behind" it. "Five years after the start of the crisis the worst is m
Published 17 Jul, 2013 12:00am
British official inflation hits 14-month peak

British official inflation hits 14-month peak

British annual inflation hit a 14-month peak in June, official data showed on Tuesday, but new Bank of England chief Mark Carney should be spared for now the pressure to cool the price-increases. Consumer Prices Index (CPI) inflation jumped to 2.9 percent
Published 17 Jul, 2013 12:00am
European car sales sink to 20-year low in first half

European car sales sink to 20-year low in first half

European car sales slumped to their lowest six-months total in 20 years in the first half of 2013, with a 6.3 percent drop in June suggesting no let up for an industry battered by overcapacity and weak demand. European automakers have been suffering for m
Published 17 Jul, 2013 12:00am
Eurozone boosts trade surplus despite global clouds

Eurozone boosts trade surplus despite global clouds

The eurozone sharply increased its trade surplus in May, despite uncertainty hanging over the world economy, European Union data showed on Tuesday. The eurozone posted a surplus of 15.2 billion euros, despite a drop in exports on monthly and annual bases,
Published 17 Jul, 2013 12:00am
US consumer inflation stabilising, industrial output up

US consumer inflation stabilising, industrial output up

US consumer prices accelerated in June and underlying inflation pressures showed signs of stabilising, keeping on track expectations the Federal Reserve will start tapering its bond purchases later this year. Other data on Tuesday showed industrial produc
Published 17 Jul, 2013 12:00am
South Korean shares dip

South Korean shares dip

Seoul shares fell on Tuesday as investors hesitated to buy in the wake of mixed US data and amid caution before major earnings in coming weeks, with key market heavyweights like Samsung Electronics Co Ltd dragging. Samsung Electronics, the biggest share o
Published 17 Jul, 2013 12:00am
Indian shares snap three-day winning streak

Indian shares snap three-day winning streak

Indian shares fell nearly 1 percent on Tuesday, snapping a three-day winning streak, as lenders such as Yes Bank and other financial firms slumped after the central bank raised short-term interest rates in a bid to curb the rupee's slide. Late on Monday,
Published 17 Jul, 2013 12:00am
Dow, S&P 500 end at record highs for third day

Dow, S&P 500 end at record highs for third day

Citigroup's strong earnings helped the S&P 500 end higher on Monday for an eighth straight day, the longest such streak since mid-January, though weak retail sales limited gains in a session with the lowest volume of the year. The Dow Jones industrial ave
Published 17 Jul, 2013 12:00am
Egypt's index rises to six-week high

Egypt's index rises to six-week high

Egypt's shares rose to a six week high on Tuesday as the interim president moves forward with forming a cabinet to restore full civilian rule despite deadly street clashes. Cairo's main benchmark climbed 0.9 percent to its highest since June 2. Former inv
Published 17 Jul, 2013 12:00am
Southeast Asian stocks mostly down

Southeast Asian stocks mostly down

Most Southeast Asian stock markets ended weaker on Tuesday awaiting directions from US Federal Reserve Chairman Ben Bernanke's twice-yearly monetary policy report to the Congress later this week. Philippine shares were down 0.6 percent, snapping a three-s
Published 17 Jul, 2013 12:00am
US bond prices rise

US bond prices rise

US Treasury debt prices rose Monday as weaker-than-forecast retail sales growth led to expectations of disappointing second-quarter economic growth and raised bets the Federal Reserve might stick its current rate of bond-purchase stimulus. The US governme
Published 17 Jul, 2013 12:00am
US bond prices rise

US bond prices rise

US Treasury debt prices rose Monday as weaker-than-forecast retail sales growth led to expectations of disappointing second-quarter economic growth and raised bets the Federal Reserve might stick its current rate of bond-purchase stimulus. The US governme
Published 17 Jul, 2013 12:00am
Tokyo stocks soar

Tokyo stocks soar

Tokyo stocks ended 0.64 percent higher on Tuesday, buoyed by a weaker yen and following another record finish on Wall Street. The benchmark Nikkei 225 index added 92.87 points to 14,599.12, while the Topix index of all first-section shares was up 0.71 per
Published 17 Jul, 2013 12:00am
European shares slip on earnings season caution

European shares slip on earnings season caution

European shares retreated from six-week highs on Tuesday, as concern about the earnings outlook prompted some investors to book profits, with Swedbank hit after its results lagged market forecasts. The Swedish bank dropped 3.9 percent after it posted a fa
Published 17 Jul, 2013 12:00am
China shares up, Hong Kong flat

China shares up, Hong Kong flat

Hong Kong shares ended flat on Tuesday as another record close on Wall Street was offset by profit-taking following a rally in the previous session. Hong Kong's benchmark Hang Seng Index edged up 9.07 points to 21,312.38 on turnover of HK$48.45 billion (U
Published 17 Jul, 2013 12:00am
Rio Tinto helps cushion slide in UK blue-chip shares

Rio Tinto helps cushion slide in UK blue-chip shares

Mining heavyweight Rio Tinto helped limit a slide in Britain's bluechip FTSE 100 index on Tuesday with a production update that assuaged some concern about Chinese demand. Rio said it would boost iron-ore output by at least 10 percent and banked on sellin
Published 17 Jul, 2013 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc rose against the dollar in thin trade on Tuesday, taking impetus from broader weakness in the greenback as dealers were cautious ahead of testimony from Fed Chairman Ben Bernanke later this week. The franc rose 0.2 percent against the doll
Published 17 Jul, 2013 12:00am
Dollar down in Asia

Dollar down in Asia

The dollar eased versus a basket of currencies on Tuesday but its losses were limited, supported by the view that the US Federal Reserve is likely to be the first among major central banks to move away from ultra-loose monetary policy. Many traders were c
Published 17 Jul, 2013 12:00am
Dollar slips against basket of currencies in London

Dollar slips against basket of currencies in London

The dollar fell against a basket of currencies on Tuesday as investors cut long bets ahead of testimony by Federal Reserve chief Ben Bernanke that could give more clues on when US monetary stimulus will be scaled back. Data suggested its losses against th
Published 17 Jul, 2013 12:00am
Early trade in New York: dollar falls versus euro, yen

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

The dollar fell against the euro and the yen on Tuesday on expectations that Federal Reserve Chairman Ben Bernanke will reiterate in congressional testimony this week that US monetary policy will remain accommodative. But losses against the euro are likel
Published 17 Jul, 2013 12:00am
Dollar rises versus yen

Dollar rises versus yen

The dollar rose against the yen on Monday as traders said a selloff last week was overdone because the Federal Reserve is still likely to be the first among major central banks to move away from ultra-loose monetary policy. The greenback's gains were trim
Published 17 Jul, 2013 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 77.75-77.75 (77.75-77.7525). Call Money Rates: 07.00-07.50 percent (previous 05.50-08.00 percent).
Published 17 Jul, 2013 12:00am
Indian rupee leads Asia FX gains

Indian rupee leads Asia FX gains

The rupee rose nearly 1 percent on central bank moves to stop its decline while most emerging Asian currencies strengthened on Tuesday as softer US retail sales growth supported hopes for sustained Federal Reserve stimulus. The embattled rupee rose 0.8 pe
Published 17 Jul, 2013 12:00am
Sterling slips versus euro

Sterling slips versus euro

Sterling fell to a four-month low against the euro on Tuesday after a central banker's comments and below-forecast inflation reaffirmed expectations that the Bank of England would retain easy monetary policy. Short sterling strips rallied across the curve
Published 17 Jul, 2013 12:00am
Australian dollar rallies, Kiwi dips

Australian dollar rallies, Kiwi dips

The Australian dollar rallied on Tuesday as markets pared back wagers on further interest rate cuts after comments from the central bank were not as dovish as many had been expecting. The Aussie rose half a cent to a session peak of $0.9173 from $0.9109,
Published 17 Jul, 2013 12:00am
Yuan edges up

Yuan edges up

The yuan edged higher against the dollar on Tuesday, despite a weaker official fixing, and dealers said the market was looking for firmer signals from the central bank on which way it wanted the currency to move. The People's Bank of China (PBOC) has let
Published 17 Jul, 2013 12:00am
Costa triumphs as Froome, Contador avoid disaster

Costa triumphs as Froome, Contador avoid disaster

Yellow jersey holder Chris Froome and rival Alberto Contador narrowly avoided disaster from a late crash during a dramatic finale to the 16th stage of the Tour de France won by Portuguese Rui Costa on Tuesday. Movistar rider Costa soloed to victory in the
Published 17 Jul, 2013 12:00am
Italian doping probe into Powell, Simpson, physio

Italian doping probe into Powell, Simpson, physio

Italian police have opened an investigation for doping against Jamaican sprinters Asafa Powell and Sherone Simpson, police said on Tuesday, as the athletes blamed their physiotherapist after they failed drugs tests. The pair, who tested positive for a ban
Published 17 Jul, 2013 12:00am
New Fulham boss urged to tap Pakistan talent

New Fulham boss urged to tap Pakistan talent

Pakistan football chiefs Tuesday urged new Fulham owner Shahid Khan to go back to his roots and tap up young talent in the South Asian country. Billionaire Khan, born in Lahore, took over the English Premier League club in a deal struck on Friday. The 62-
Published 17 Jul, 2013 12:00am
Chief selector never convicted for match fixing: PCB

Chief selector never convicted for match fixing: PCB

Pakistan Cricket Board (PCB) on Tuesday categorically declared that the newly-appointed chief selector Moin Khan was never convicted or fined for match fixing and said such irresponsible and false allegations hurt the national interest apart from causing
Published 17 Jul, 2013 12:00am
Busquets extends contract at Barcelona

Busquets extends contract at Barcelona

Spain midfielder Sergio Busquets has extended his contract at Barcelona until the end of the 2017/18 season, the Liga champions annuonced on Tuesday. The 25-year-old will remain at the Camp Nou until June 30 2018 with the option to stay another year, dire
Published 17 Jul, 2013 12:00am
Brit bats for 26 hours in world record bid

Brit bats for 26 hours in world record bid

A British graduate collapsed in a heap on Tuesday after batting for 26 hours solid at The Oval cricket ground in London in a bid to break the world record. Alby Shale, 22, from Oxfordshire in southern England, began his marathon stand in the indoor nets a
Published 17 Jul, 2013 12:00am
Afghanistan's only Olympian bows out over accusations

Afghanistan's only Olympian bows out over accusations

Afghanistan's only Olympic medallist, taekwondo star and national hero Rohullah Nikpa, announced Tuesday that he would boycott international competition unless reforms root out discrimination and mismanagement within the sport in his country. The 26-year-
Published 17 Jul, 2013 12:00am
Haddin insists Australia 'fine' despite Arthur claims

Haddin insists Australia 'fine' despite Arthur claims

Brad Haddin on Tuesday maintained that the Australia squad in England were united after former coach Mickey Arthur reportedly claimed there was a huge rift between Test captain Michael Clarke and all-rounder Shane Watson. Arthur was sensationally sacked j
Published 17 Jul, 2013 12:00am
Vietnamese fan chases Arsenal bus for 5 miles

Vietnamese fan chases Arsenal bus for 5 miles

A Vietnamese football fan dubbed the 'Running Man' chased Arsenal's team bus five miles through the streets of Hanoi before finally being invited on board to meet his heroes, the club's website said on Tuesday. Footage on the site shows players cheering a
Published 17 Jul, 2013 12:00am
PSG sign Uruguay striker Cavani

PSG sign Uruguay striker Cavani

Paris St Germain signed last season's Serie A top scorer Edinson Cavani from Napoli on a five-year contract, the French Ligue 1 champions said on Tuesday. "The transfer of Edinson Cavani is further proof of the club's ability to attract the best players i
Published 17 Jul, 2013 12:00am
Bell eager for more Ashes glory

Bell eager for more Ashes glory

Ian Bell said on Tuesday that he was looking to carry on from where he left off, as Ashes holders England bid to go 2-0 up in their five-match series against Australia in the second Test at Lord's this week. Bell struck the only century of the match as En
Published 17 Jul, 2013 12:00am
ICC defend DRS and umpires in Ashes opener

ICC defend DRS and umpires in Ashes opener

The International Cricket Council (ICC) took the unusual step Tuesday of publicly defending the performances of its officials and the Decision Review System (DRS) in a specific match following the controversial first Ashes Test at Trent Bridge. England's
Published 17 Jul, 2013 12:00am
Russia blocks bid for Antarctic sanctuary: NGOs

Russia blocks bid for Antarctic sanctuary: NGOs

Russia on Tuesday blocked attempts by Western countries to create the world's largest ocean sanctuary off Antarctica, green groups said. The Russian representative questioned the legal right of a meeting in Bremerhaven, northern Germany, to declare such a
Published 17 Jul, 2013 12:00am
Astronaut helmet leak forces abrupt end to spacewalk

Astronaut helmet leak forces abrupt end to spacewalk

An Italian astronaut had a leak in his helmet while doing a spacewalk at the International Space Station Tuesday, forcing an early end to the outing, NASA said. "A little more (than) one hour into the spacewalk, Luca Parmitano of the European Space Agency
Published 17 Jul, 2013 12:00am
Indian general slashed in Amritsar 'revenge' attack: UK court

Indian general slashed in Amritsar 'revenge' attack: UK court

The Indian general who commanded the 1984 Amritsar Golden Temple assault had his throat slashed in a deliberate revenge attack by a Sikh gang, a London court heard Tuesday. Retired lieutenant general Kuldip Singh Brar, 78, the commander of Operation Blue
Published 17 Jul, 2013 12:00am
EU's Ashton urges quick resumption of Iran nuclear talks

EU's Ashton urges quick resumption of Iran nuclear talks

European Union foreign policy chief Catherine Ashton on Tuesday called for the resumption "as soon as possible" of talks between global powers and Iran on its contested nuclear programme. Ashton hosted talks between political directors from the so-called
Published 17 Jul, 2013 12:00am
Eight children dead, 80 in hospital from India school lunch

Eight children dead, 80 in hospital from India school lunch

Eight children died and 80 others were hospitalised on Tuesday after eating lunch served at their school in eastern India, officials said. "The eight children died after consuming the midday meal in their school," local Bihar state administrator Abhijit S
Published 17 Jul, 2013 12:00am
Pay companies to hire youth, OECD suggests

Pay companies to hire youth, OECD suggests

The plight of youth unemployment in developed economies is so severe it has prompted the OECD to call for more government intervention, possibly including paying companies to hire. It also said on Tuesday that governments should not roll back minimum welf
Published 17 Jul, 2013 12:00am
Afghan suspect blames US commandos for civilian murders

Afghan suspect blames US commandos for civilian murders

An Afghan accused of torturing and murdering civilians while working for US special forces denies the charges and says he followed American orders, according to a report obtained by AFP on Tuesday. Zakrya Kandahari, who worked as an interpreter, was arres
Published 17 Jul, 2013 12:00am
China pushes Europe to lower hurdles to solar deal

China pushes Europe to lower hurdles to solar deal

China is pushing hard for only limited restrictions on its solar panel exports to the European Union, complicating talks aimed at avoiding hefty tariffs on Chinese firms and a possible trade war, a document obtained by Reuters showed on Tuesday. The Europ
Published 17 Jul, 2013 12:00am
British think-tank offers 100,000-euro prize for EU exit plan

British think-tank offers 100,000-euro prize for EU exit plan

A British think-tank on Tuesday launched a competition for the best plan to leave the EU - offering a prize of 100,000 euros ($131,000) instead of in pounds. The right-leaning Institute of Economic Affairs (IEA) said it wanted to find a credible blueprint
Published 17 Jul, 2013 12:00am
Kerry arrives in Jordan for peace talks

Kerry arrives in Jordan for peace talks

Top US diplomat John Kerry was meeting Jordanian leaders Tuesday on a fresh trip to the Middle East focused on advancing the peace talks amid turmoil in Egypt and Syria. Arriving on an overnight flight from Washington, the secretary of state was first to
Published 17 Jul, 2013 12:00am
France arrests Norwegian neo-Nazi over terror plot fears

France arrests Norwegian neo-Nazi over terror plot fears

A Norwegian neo-Nazi black metal rocker and convicted killer was arrested in France on Tuesday over fears he may have been preparing a "major terrorist act", the interior ministry said. Kristian Vikernes, who is reportedly a sympathiser of Norwegian mass
Published 17 Jul, 2013 12:00am
Former Chad dictator sued for warcrimes

Former Chad dictator sued for warcrimes

A group of alleged victims of former Chadian dictator and genocide accused Hissene Habre have filed for compensation in Senegal, where he has been in exile for over two decades. The complainants "filed civil party complaints on Monday, July 15", to the cr
Published 17 Jul, 2013 12:00am
UK Dreamliner fire probe confirms looking at Honeywell part

UK Dreamliner fire probe confirms looking at Honeywell part

British investigators said on Tuesday a transmitter made by US firm Honeywell was one of several components that may have caused a fire on a Boeing Dreamliner in London last week. "We can confirm that Honeywell have been invited to join the investigation,
Published 17 Jul, 2013 12:00am
US sentences Rwanda genocide woman to 10 years

US sentences Rwanda genocide woman to 10 years

A woman who selected some of the victims of the 1994 genocide in Rwanda has been sentenced to ten years in prison for concealing her past to obtain US citizenship, court officials said Tuesday. Beatrice Munyenyezi, 43, received the sentence, the maximum p
Published 17 Jul, 2013 12:00am
UK to give Syria rebels protection from chemical weapons

UK to give Syria rebels protection from chemical weapons

Britain is to give Syrian opposition fighters equipment to protect them against chemical weapons attacks "as a matter of special urgency", Foreign Secretary William Hague said on Tuesday. The British government will supply "moderate" opposition fighters w
Published 17 Jul, 2013 12:00am
Four dead in Australia refugee boat sinking

Four dead in Australia refugee boat sinking

Four asylum-seekers died after a people-smuggling ship carrying around 150 passengers capsized off Australia's remote Christmas Island Tuesday, triggering a major rescue operation. The Australian Customs and Border Protection Service said the vessel overt
Published 17 Jul, 2013 12:00am
Putin observes Russian war games on China, Japan doorstep

Putin observes Russian war games on China, Japan doorstep

President Vladimir Putin on Tuesday inspected huge military exercises Russia's army is carrying out close to the borders with Japan and China, in one of its biggest shows of force in the Asia-Pacific region of recent years. Thousands of tanks, 160,000 ser
Published 17 Jul, 2013 12:00am
Japan's former premier sues Prime Minister Abe

Japan's former premier sues Prime Minister Abe

Japan's premier at the time of the Fukushima crisis said Tuesday he was suing the current prime minister for defamation over online comments about the way the emergency was handled. With less than a week to go before upper house elections, the now-opposit
Published 17 Jul, 2013 12:00am
Greece hit with new general strike over reforms

Greece hit with new general strike over reforms

Thousands protested in recession-wracked Greece on Tuesday during a general strike against fresh austerity measures the government is imposing in order to receive billions of euros (dollars) in EU-IMF loans. At least 16,000 demonstrators turned out in Ath
Published 17 Jul, 2013 12:00am
New Saudi rules set rights for domestic workers

New Saudi rules set rights for domestic workers

Saudi Arabia announced on Tuesday new rules to protect the rights of foreign domestic workers, most of whom are from South Asia, but stressed they must "respect" Islam and "obey" their employers. Labour Minister Adel Faqih said the new rules require emplo
Published 17 Jul, 2013 12:00am
Asylum-seeker numbers slump in Switzerland

Asylum-seeker numbers slump in Switzerland

Asylum-seeker numbers have fallen by almost a third in Switzerland, officials said Tuesday in a country that has repeatedly tightened its immigration rules over recent years. All told, 11,205 people filed asylum claims between January and June, mostly fro
Published 17 Jul, 2013 12:00am
New Egypt cabinet sworn in without a single Islamist

New Egypt cabinet sworn in without a single Islamist

Egypt's army-backed leaders swore in a new interim cabinet on Tuesday after a night of street violence, with not a single minister representing either of the main Islamist groups that have won five straight elections since 2011. Seven people were killed o
Published 17 Jul, 2013 12:00am
ICE cotton falls on forecasts for Texas rains, slower Indian use

ICE cotton falls on forecasts for Texas rains, slower Indian use

Cotton futures finished mostly lower on Monday, hurt by forecasts for badly needed rains on dry Texas cotton-growing lands and expectations for slower demand after India raised interest rates. Most-active December cotton futures on ICE Futures US was the
Published 17 Jul, 2013 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most-traded November copper contract on the Shanghai Futures Exchange climbed 0.60 percent to close at 50,250 yuan ($8,200) a tonne on Tuesday after weaker-than-expected US retail sales backed the view the US Federal Reserve will hold off on reducing
Published 17 Jul, 2013 12:00am
Copper rises after two-day fall

Copper rises after two-day fall

Copper rose on Tuesday, helped by a weaker dollar, as investors waited for further signals on when the US Federal Reserve might begin to rein in its monthly bond-buying programme. The dollar eased against a basket of currencies but its losses were limited
Published 17 Jul, 2013 12:00am
Brent rises as US gasoline hits four-month high

Brent rises as US gasoline hits four-month high

Brent crude edged higher on Tuesday as US gasoline surged to four-month highs, fuelled by refinery problems in the midst of the summer driving season and rising prices for ethanol credits. A spate of refinery outages across the US over the past week has h
Published 17 Jul, 2013 12:00am
Tokyo rubber futures lower

Tokyo rubber futures lower

Tokyo rubber futures ended lower on Tuesday, weighed down by easing oil prices and a weaker economic outlook in Asia, dealers said on Tuesday. However, trading was thin and helped prevent prices from falling sharply, with support above the 230-yen level,
Published 17 Jul, 2013 12:00am
Corn drops one percent

Corn drops one percent

US corn futures fell 1 percent on Monday as a favourable weather forecast for much of the Midwest Corn Belt eased worries that stressful summer heat would drag down yields. Wheat futures also dropped as hot, dry weather this week should allow most farmers
Published 17 Jul, 2013 12:00am
Palm oil slips to seven-month low

Palm oil slips to seven-month low

Malaysian palm oil futures fell to the lowest in more than seven months on Tuesday, as worries persisted over weak exports and higher output of the tropical oil. Malaysian palm oil exports for the first half of the month fell as much as 24 percent from th
Published 17 Jul, 2013 12:00am
Cocoa surges

Cocoa surges

ICE cocoa futures climbed the most in ten months on Tuesday, on news that Ivory Coast has forward sold a large portion of its new crop ahead of schedule, prompting worry over tightening supplies in the world's top producer. Raw sugar futures slipped to a
Published 17 Jul, 2013 12:00am
Gold down in New York

Gold down in New York

Gold eased in quiet trade on Monday after last week's sharp gain, as investors await Federal Reserve Chairman Ben Bernanke's testimony before US Congress later this week for market cues. The metal rose overnight after data showed China's economic growth s
Published 17 Jul, 2013 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold was little changed on Tuesday as investors awaited Federal Reserve Chairman Ben Bernanke's congressional testimony later this week for clues on when the US central bank would begin tapering its monetary stimulus. Spot gold was down $1 at $1,281.00 an
Published 17 Jul, 2013 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose on Tuesday as the dollar eased ahead of Federal Reserve Chairman Ben Bernanke's congressional testimony later in the week, which investors expect could provide clues on the timing of the central bank's tapering of monetary stimulus. Bullion rose
Published 17 Jul, 2013 12:00am
US MIDDAY: corn and soya up

US MIDDAY: corn and soya up

US corn and soyabean futures rose on Tuesday as the latest forecasts increased the heat and reduced the rain for the Midwest crop belt, changes that prompted fund buying because such weather could hurt crop yields. August-delivery soyabean futures drew ad
Published 17 Jul, 2013 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold rose on Tuesday as signs of stabilising US inflation pressures suggested the Federal Reserve is on track to start tapering its bond purchases later this year rather than imminently. Bullion investors remain focused on Fed Chairman Ben Bernanke's semi
Published 17 Jul, 2013 12:00am
ZONG sets up computer laboratory at COMSATS

ZONG sets up computer laboratory at COMSATS

Circle, a youth brand by ZONG - the international brand of China Mobile; will be setting up a high-tech 30 node computer lab at COMSATS Institute of Information Technology WAH campus to help the students of Computer Engineering for carrying out their proj
Published 17 Jul, 2013 12:00am
Creation of DG Human Rights post in MoFA proposed

Creation of DG Human Rights post in MoFA proposed

The Sub-committee of the Senate Standing Committee on Human Rights Tuesday proposed that for better global co-ordination on Human Rights issues a slot of Director General Human Rights be created in the Ministry of Foreign Affairs. The committee said that
Published 17 Jul, 2013 12:00am
Greek envoy meets Nisar

Greek envoy meets Nisar

Ambassador of Greece to Pakistan, Petros Manroidis called on the Federal Minister Interior and Narcotics Control Chaudhry Nisar Ali Khan here Tuesday. Matters of mutual interest including curbing illegal emigration and human trafficking came under discuss
Published 17 Jul, 2013 12:00am
PEI to provide Rs one billion to support Fata health, education sectors

PEI to provide Rs one billion to support Fata health, education sectors

Poverty Eradication Initiative (PEI) signed a Memorandum of Understanding (MoU) with Fata Health Services and Education department for provision of medical equipment and logistic support to Fata people in health and education sectors. Under the arrangemen
Published 17 Jul, 2013 12:00am
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