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Print - 2014-06-21
Scientists warn of tourism threat to Antarctica

Scientists warn of tourism threat to Antarctica

Antarctic scientists warned Wednesday that a surge in tourists visiting the frozen continent and new roads and runways built to service research facilities were threatening its fragile environment.
Published 21 Jun, 2014 12:00am
Apps let parents control children's usage of electronic devices

Apps let parents control children's usage of electronic devices

Parents struggling to get their children away from smartphones and tablets for meals, homework, exercise and other activities can arm themselves with new apps to remotely block access to the devices. Usage of smartphones and tablets among children has tri
Published 21 Jun, 2014 12:00am
Khalid Iqbal - a legendary landscape painter

Khalid Iqbal - a legendary landscape painter

Senior artist Professor Khalid Iqbal died in Lahore on 19th June, 2014. He was soft spoken and amicable with his students and others. Born on 23rd June 1929 at Simla, Iqbal was a legend in his lifetime. He is responsible for the creation of a whole school
Published 21 Jun, 2014 12:00am
ART FACTS: Unique and individualistic styles

ART FACTS: Unique and individualistic styles

Inspired by various scripts of calligraphy Riaz Rafi has acquired his own personal style over the years, which has now become his signature due to its unique and individualistic qualities. He was one of the artists at a group exhibition held at Citi Art G
Published 21 Jun, 2014 12:00am
KARACHI CHRONICLE: The demise of hockey

KARACHI CHRONICLE: The demise of hockey

Pakistan for the first time did not play in the Hockey World Cup, which ended last Sunday with the Australians winning their third world cup title beating Netherlands 6-1 in The Hague, the Dutch home ground. The only person I could recognise among the Aus
Published 21 Jun, 2014 12:00am
Tribesmen's pivot to South Punjab

Tribesmen's pivot to South Punjab

According to a press report, a sizeable number of tribesmen suspected of having links with the Taliban as well as Afghans have been moving unchecked from North Waziristan into various southern Punjab cities, creating a security risk. Many have bought comm
Published 21 Jun, 2014 12:00am
'The Brazuca'- made in Pakistan

'The Brazuca'- made in Pakistan

Pakistan ranks 164 on Fifa ranking table in football game. Although, unqualified for the Football World Cup Tournament, Pakistan is still present as a central part of every footbaall match, because of Brazuca The Adidas Brazuca is the official match ball
Published 21 Jun, 2014 12:00am
KP urges Centre to withdraw hike

KP urges Centre to withdraw hike

KP Chief Minister Pervez Khattak has reiterated his demand to bring the Gas Infrastructure Development Cess (GIDC) imposed in the Federal budget 2014-15 to the same level prior to the federal budget. He said government will take all such issues with cente
Published 21 Jun, 2014 12:00am
APTMA seeks withdrawal of increase in GIDC

APTMA seeks withdrawal of increase in GIDC

APTMA'S Senior Vice Chairman Seth Muhammad Akber has urged the government to withdraw increase in Gas Infrastructure Development Cess (GIDC) to avoid a total disaster of the textile industry, specially the Punjab based textile units.
Published 21 Jun, 2014 12:00am
NWA operation: KP government not taken into confidence: Siraj

NWA operation: KP government not taken into confidence: Siraj

Jamaat-i-Islami Central amir, and KP Senior Minister for Finance, Siraj-ul-Haq said the provincial government was not taken into confidence prior to launching military operation in North Waziristan agency, despite that fact the provincial government is do
Published 21 Jun, 2014 12:00am
Strict measures to avert Model Town like incidents in future: IGP

Strict measures to avert Model Town like incidents in future: IGP

Inspector General of Police Punjab Mushtaq Ahmad Sukhera has said that police will have to take strict measures to avert Model Town Lahore like incidents in the future. He said this during first meeting with police officers at CPO Lahore on Friday after a
Published 21 Jun, 2014 12:00am
Influx of IDPs in KP: Islamabad makes no formal request to UN

Influx of IDPs in KP: Islamabad makes no formal request to UN

An influx of internally displaced persons (IDPs) from North Waziristan Agency (NWA) to Khyber Pakhtunkhwa after the launch of the military offensive against militants would further raise their numbers from the existing 930,000 registered IDPs and Afghan r
Published 21 Jun, 2014 12:00am
Five wrongly convicted of New York rape settle for $40 million: report

Five wrongly convicted of New York rape settle for $40 million: report

Five black and Hispanic men wrongly imprisoned for the brutal 1989 rape and attempted murder of a white investment banker in Central Park have agreed to settle a lawsuit against New York City for $40 million, The New York Times reported. The men, all teen
Published 21 Jun, 2014 12:00am
Sindh government fails to constitute PFC

Sindh government fails to constitute PFC

Despite the passage of more than one and half year, Sindh Government has failed to constitute Provincial Finance Commission (PFC) which has the mandate to distribute funds between local government institutions and provincial government.
Published 21 Jun, 2014 12:00am
Brief on amendments proposed in Finance Bill 2014

Brief on amendments proposed in Finance Bill 2014

INCOME TAX: BONUS SHARES: Through the Finance Bill, 2014, bonus shares were proposed to be taxed in the hands of the shareholder. In our Memorandum on Finance Bill, it was stated that bonus shares do not represent income in the hands of either the company
Published 21 Jun, 2014 12:00am
Brief on amendments proposed in Finance Bill 2014

Brief on amendments proposed in Finance Bill 2014

INCOME TAX: BONUS SHARES: Through the Finance Bill, 2014, bonus shares were proposed to be taxed in the hands of the shareholder. In our Memorandum on Finance Bill, it was stated that bonus shares do not represent income in the hands of either the company
Published 21 Jun, 2014 12:00am
An impractical proposition

An impractical proposition

Apropos 'Enhanced rates of WHT for IT non-filers: Banks term govt move impractical' carried by Business Recorder on Thursday, country's banks have taken a highly plausible stance towards an unprecedented measure introduced by the incumbent governme
Published 21 Jun, 2014 12:00am
Is time running out for Iraq's Maliki?

Is time running out for Iraq's Maliki?

Iraqi premier Nuri al-Maliki, accused by domestic opponents and, increasingly, by once firm American allies of "sectarianism" that has fuelled a Sunni insurgent onslaught, is a political survivor whose time may be up.
Published 21 Jun, 2014 12:00am
Russia dips into pension fund in about-turn for Putin

Russia dips into pension fund in about-turn for Putin

Russia's recent decision to spend more of its fiscal reserves on infrastructure to keep the sanctions-hit economy turning marks an about-turn for President Vladimir Putin that leaves a question mark over the future funding of pensions.
Published 21 Jun, 2014 12:00am
Economic isolation

Economic isolation

Pakistan is in turmoil is stating the obvious. The country is without any sports at the international level. No cricket team is willing to come here as a result of the law and order situation. The NZ got it first at the Sheraton and then as if that was no
Published 21 Jun, 2014 12:00am
Taking care of IDPs

Taking care of IDPs

The 'handling' of the tribesmen displaced by the ongoing military operation in North Waziristan by the Afghan government should be a matter of grave concern. In the name of facilitating the 'refugees' from Pakistan, a relief camp has been set up near the
Published 21 Jun, 2014 12:00am
Encouraging news on Dasu project

Encouraging news on Dasu project

It is undoubtedly a matter of great satisfaction that the World Bank was able to unanimously approve the Dasu hydro electric power project on 10th June, 2014. It was a surprise that US administration which had earlier warned Pakistan that it would prefer
Published 21 Jun, 2014 12:00am
Cotton futures ease, post weekly loss

Cotton futures ease, post weekly loss

Benchmark cotton futures edged down on Friday for a slight weekly loss, after a string of choppy sessions dominated by liquidation from the July contract ahead of its delivery period. The most-active December cotton contract on ICE Futures US closed down
Published 21 Jun, 2014 12:00am
US crude oil reaches nine-month high

US crude oil reaches nine-month high

US crude oil jumped above $107 a barrel on Friday, reaching a new nine-month high on the back of profit-taking from the July futures contract expiration and expectations of higher refinery runs this summer. Rising US oil prices further constricted their d
Published 21 Jun, 2014 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded August copper contract on the Shanghai Futures Exchange rose 1.4 percent to close at 48,760 yuan a tonne on Friday. China's copper imports are likely to fall as an ongoing probe in Qingdao port into alleged fraudulent use of the metal as a
Published 21 Jun, 2014 12:00am
Copper in longest win streak since December

Copper in longest win streak since December

Copper futures rose for a sixth session in a row on Friday in their longest winning run this year, backed by a weaker dollar and tighter physical supply in top consumer China. Other base metals climbed with copper, joining a rally in global equities while
Published 21 Jun, 2014 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures ended lower on Friday to follow weaker soyoil markets and as poor exports dragged, although the recent surge in crude prices due to tensions in Iraq lifted weekly prices to their biggest gain in eight. The benchmark September co
Published 21 Jun, 2014 12:00am
Arabica coffee up

Arabica coffee up

ICE arabica coffee futures rallied the most in over a month on Friday, stemming a four-day slide on bullish technical signals and forecasts of cool weather in Brazil that heightened concerns of potential crop damage in the world's top producer. Cocoa on I
Published 21 Jun, 2014 12:00am
Corn and soyabeans rise

Corn and soyabeans rise

US corn and soyabean futures rose for the second straight session on Thursday, supported by concerns that heavy rains in some growing areas of the United States may have caused damage to developing crops, traders said. "It looks like 10 to 20 percent of t
Published 21 Jun, 2014 12:00am
Rubber stays up

Rubber stays up

Tokyo rubber futures posted a second week of gains and rose to their highest in two months on Friday on the back of firm oil prices and brighter economic indicators in China, the world's biggest rubber consumer, dealers said on Friday. The Tokyo Commodity
Published 21 Jun, 2014 12:00am
Gold surges in New York

Gold surges in New York

Gold surged over 3 percent for its best day in eight months on Thursday as the Federal Reserve's lack of commitment to raise interest rates and continued tensions in the Middle East unleashed a wave of short covering. Bullion hit its highest level in more
Published 21 Jun, 2014 12:00am
Gold eases in Asia

Gold eases in Asia

Gold eased on Friday on profit taking after posting its biggest one-day rise in nine months, but the safe-haven metal was trading near April highs and set for its best week in three months on geopolitical tensions and a softer dollar. Spot gold fell 0.6 p
Published 21 Jun, 2014 12:00am
Gold drops in Europe

Gold drops in Europe

Gold edged lower on Friday as investors took profits after it posted its biggest daily rise in nine months, but was still set for its biggest weekly gain in four months due to conflict in Iraq and a softer dollar after the Federal Reserve's comments. The
Published 21 Jun, 2014 12:00am
Gabon oil refinery production falls

Gabon oil refinery production falls

Production from Gabon's state-run oil refining company has fallen by one third to 600,000 barrels per day (bpd) this year because of disruptions in the supply chain, oil minister Dieudonn? Ngoubou said on Friday. The production slump at SOGARA has led to
Published 21 Jun, 2014 12:00am
US MIDDAY: soya drops

US MIDDAY: soya drops

US soyabean futures fell 1.2 percent on Friday, pressured by profit taking and concerns about slowing demand from China, the world's top buyer of the oilseed, traders said. Wheat also fell, weighed down by light technical selling and seasonal harvest pres
Published 21 Jun, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Friday at Pakistan Mercantile Exchange (PMEX) value traded more than doubled as compared to Thursday, with an increase of 115.12 percent to PKR 6.15 billion from PKR 2.86 billion recorded a day ago. Number of lots traded was reported at 22,211, up by 4
Published 21 Jun, 2014 12:00am
Ukraine harvests 381,000 tonnes of grain in 2014

Ukraine harvests 381,000 tonnes of grain in 2014

Farms in Ukrainian southern and central regions have harvested the first 143,000 hectares of grain as of June 18, gathering a total of 381,000 tonnes, the agriculture ministry said on Wednesday. The volume includes 374,000 tonnes of barley and 7,000 tonne
Published 21 Jun, 2014 12:00am
Canadian canola futures mixed

Canadian canola futures mixed

ICE Canada canola futures closed mixed on Thursday, with the July contract's premium slipping. Thin commercial supplies due to a lack of farmer selling have driven up July's premium over new-crop November, but the spread narrowed, possibly due to the shor
Published 21 Jun, 2014 12:00am
US FOB Gulf soya basis offers steady to firm

US FOB Gulf soya basis offers steady to firm

US FOB Gulf soyabean basis offers were steady to firm on Thursday with a rally in futures tied to evidence of fresh export interest for old-crop soyabeans, traders said. FOB Gulf corn and HRW wheat basis values were steady while SRW wheat had a softer ton
Published 21 Jun, 2014 12:00am
CBOT wheat futures end higher

CBOT wheat futures end higher

Wheat futures on the Chicago Board of Trade closed higher on Thursday, rebounding off of this week's four-month low and gaining against K.C. hard red winter and MGEX spring wheat on inter-market spreads, traders said. The premium for spot K.C. wheat over
Published 21 Jun, 2014 12:00am
European wheat futures pare gains in team with Chicago

European wheat futures pare gains in team with Chicago

European wheat futures pared gains in afternoon trade, following a similar trend on US markets and after failing to hold above the psychological level of 190 euros per tonne on the front-month contract. Weather concerns in the United States, with disappoi
Published 21 Jun, 2014 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 117,746 tonnes of cargo comprising 88,340 tonnes of import cargo and 29,406 tonnes of export cargo including 3,487 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargo of 88,3
Published 21 Jun, 2014 12:00am
Cotton market: mills, spinners stay on the sidelines

Cotton market: mills, spinners stay on the sidelines

Most of the mills and spinners kept on the sidelines in expectations of decline in rates as seed cotton arrivals started from lower Sindh, dealers said on the cotton market on Friday. The official spot rate held the overnight level at Rs 6,800, they added
Published 21 Jun, 2014 12:00am
Rates firm on grain market

Rates firm on grain market

According to the press release of the Wholesale Grain Merchant Group, rates were firm on the local commodity and oilseeds market on Friday.
Published 21 Jun, 2014 12:00am
Ivorian cocoa purchases slow on poor quality

Ivorian cocoa purchases slow on poor quality

Greater amounts of poor quality cocoa have been arriving at Ivory Coast ports, prompting some operators to suspend purchases of beans from farms, due to heavy rainfall and insufficient sunshine, exporters, middlemen and farmers said on Thursday. Cocoa far
Published 21 Jun, 2014 12:00am
Obama hopes for Pacific trade deal by November

Obama hopes for Pacific trade deal by November

US President Barack Obama said Friday he hopes to have an agreement on framing a vast pan-Pacific trading block by the time he makes his next visit to Asia in November. The Trans-Pacific Partnership (TPP) would encompass 40 percent of the global economy a
Published 21 Jun, 2014 12:00am
Spain to cut taxes to boost nascent recovery

Spain to cut taxes to boost nascent recovery

Spain announced on Friday it would cut income tax and reduce corporate tax to 25 percent for large companies by 2016, aiming to speed up a nascent economic recovery. The cuts are part of a proposed bill that is Prime Minister Mariano Rajoy's main structur
Published 21 Jun, 2014 12:00am
Citigroup names James Bindler FX chief

Citigroup names James Bindler FX chief

Citigroup Inc named James Bindler the bank's global head of foreign exchange, succeeding Jeff Feig, according to an internal memo. Bindler will be responsible for trading, prime brokerage, e-commerce and corporate FX Sales among other things, according to
Published 21 Jun, 2014 12:00am
Eurozone current account surplus grows: ECB

Eurozone current account surplus grows: ECB

The eurozone's current account surplus grew to 21.5 billion euros ($29.3 billion) in April, European Central Bank data showed Friday. The monthly figure is higher than a surplus of 19.6 billion euros in March, according to revised data.
Published 21 Jun, 2014 12:00am
France backs GE bid for industrial jewel Alstom

France backs GE bid for industrial jewel Alstom

France stepped firmly into the battle over Alstom on Friday, saying it favoured General Electric's 12.35 billion euro ($16.8 billion) bid and would take a 20 percent stake in the French industrial jewel.
Published 21 Jun, 2014 12:00am
India allows foreigners to access FX futures

India allows foreigners to access FX futures

India's central bank allowed foreign investors to access the currency futures market for hedging their currency risks while also partially reversing the restrictions put last year on banks proprietary trading in the exchange traded currency futures. The R
Published 21 Jun, 2014 12:00am
Lloyds increases TSB stake sale

Lloyds increases TSB stake sale

Britain's state-rescued lender Lloyds Banking Group said Friday that it has ramped up the amount of TSB shares it is selling due to keen investor demand. Lloyds will sell 35 percent of TSB, or 175 million shares, in a stock market flotation at 260 pence p
Published 21 Jun, 2014 12:00am
EU gives six states clean bill of health on budget deficits

EU gives six states clean bill of health on budget deficits

The European Commission said Friday it was ending special budget surveillance for six EU member states after they brought their deficits back within EU limits. The Commission said Austria, Belgium, Czech Republic, Denmark, the Netherlands and Slovakia had
Published 21 Jun, 2014 12:00am
Canada's inflation hits 27-month high

Canada's inflation hits 27-month high

Costlier energy unexpectedly pushed Canada's annual inflation rate to a 27-month high of 2.3 percent in May from 2.0 percent in April, while a rise in the core rate also put pressure on the Bank of Canada to tone down its low-inflation concerns. Statistic
Published 21 Jun, 2014 12:00am
Leading Portuguese BES bank in turmoil

Leading Portuguese BES bank in turmoil

Leading Portuguese bank Banco Espirito Santo (BES) was in turmoil on Friday after press reports said its chief executive was about to leave the company and trading in its shares was suspended. Stock market authorities told the company to clarify the statu
Published 21 Jun, 2014 12:00am
China eyeing further boost to Piraeus hub: premier

China eyeing further boost to Piraeus hub: premier

Chinese Premier Li Keqiang on Friday said Piraeus could become one of the world's "most competitive" ports if China shipper COSCO is able to fulfil its investment plan for the area. "We hope to turn Piraeus...into one of the most competitive ports of the
Published 21 Jun, 2014 12:00am
EU eyes simpler fiscal rules as pressure grows to boost economy

EU eyes simpler fiscal rules as pressure grows to boost economy

The European Union will review its fiscal rules at the end of this year to see if they can be made simpler and more efficiently used to encourage growth and jobs after years of budget consolidation. Planned since the rules were tightened in 2011, at the h
Published 21 Jun, 2014 12:00am
Indian shares hit two-week low

Indian shares hit two-week low

Indian shares fell for the third straight day on Friday, hitting their lowest close in over two weeks as Mahindra and Mahindra declined on concerns over weak monsoon, while other blue chips slipped on risk aversion related to Iraq violence. Oil held near
Published 21 Jun, 2014 12:00am
SA stocks extend gains

SA stocks extend gains

South African stocks extended their weekly gains on Friday with mobile operator Vodacom leading the gainers while gold producer AngloGold Ashanti also rose, tracking an upbeat tone in overseas bullion markets. Vodacom rose 3.36 percent to 135.40 rand, its
Published 21 Jun, 2014 12:00am
Tokyo stocks flat

Tokyo stocks flat

Tokyo stocks finished flat on Friday, giving up early gains after hitting a five-month high the previous day and following a new record close on Wall Street. The benchmark Nikkei 225 index slipped 0.08 percent, or 11.74 points, to end at 15,349.42, while
Published 21 Jun, 2014 12:00am
Friday's afternoon trade: Dow, S&P 500 hit new highs

Friday's afternoon trade: Dow, S&P 500 hit new highs

US stocks rose on Friday, pushing the Dow and the S&P 500 to record levels and setting the benchmark index up to score its fourth weekly advance over the past five. But trading is expected to become volatile as the session progresses. Friday marks a "quad
Published 21 Jun, 2014 12:00am
S&P ends at a record as Fed optimism lingers

S&P ends at a record as Fed optimism lingers

The S&P 500 ended at another record high on Thursday, extending gains for a fifth day on investors' optimism that the Federal Reserve will keep interest rates low for a long period of time. The S&P 500's gain was slim, however, with the benchmark index re
Published 21 Jun, 2014 12:00am
Sri Lankan shares down

Sri Lankan shares down

Sri Lankan shares fell for the third straight session on Friday to a more than one-week closing low as foreign investors offloaded telecommunications and hotel stocks. However, analysts said the index would be on a slow rising trend this year due to lower
Published 21 Jun, 2014 12:00am
Treasuries fall on weak TIPS auction

Treasuries fall on weak TIPS auction

US Treasuries prices fell on Thursday after the government had to pay more to sell $7 billion in new 30-year Treasuries Inflation-Protected Securities (TIPS). Prices also dropped as investors reworked positions, a day after the Federal Reserve struck a mo
Published 21 Jun, 2014 12:00am
Treasuries fall on weak TIPS auction

Treasuries fall on weak TIPS auction

US Treasuries prices fell on Thursday after the government had to pay more to sell $7 billion in new 30-year Treasuries Inflation-Protected Securities (TIPS). Prices also dropped as investors reworked positions, a day after the Federal Reserve struck a mo
Published 21 Jun, 2014 12:00am
TSX steadies

TSX steadies

Canada's main stock index was little changed on Friday as a decline in shares of gold miners, which followed the bullion price lower, was offset by strength in the energy sector. Energy shares received a boost from the continuing conflict in Iraq, which f
Published 21 Jun, 2014 12:00am
Australian shares fall

Australian shares fall

Australian shares fell 0.9 percent on Friday, with the crisis in Iraq encouraging investors to book profits from the previous session's steep gains while a surge in gold propped up producers such as Newcrest Mining. The S&P/ASX 200 index fell 48 points to
Published 21 Jun, 2014 12:00am
Hong Kong and China shares soar

Hong Kong and China shares soar

Hong Kong shares rose 0.11 percent Friday following a record close on Wall Street as investors look ahead to the release of provisional Chinese manufacturing data next week. The benchmark Hang Seng Index added 26.33 points to 23,194.06 on turnover of HK$5
Published 21 Jun, 2014 12:00am
FTSEurofirst index ends near 6 1/2-year high

FTSEurofirst index ends near 6 1/2-year high

The FTSEurofirst 300 climbed to a 6-1/2-year high on Friday and recorded its 10th straight week of gains, with analysts saying that expectations of a pick-up in merger and acquisition activity will further boost sentiment.
Published 21 Jun, 2014 12:00am
Periphery yields up

Periphery yields up

Yields on lower-rated euro zone bonds edged away from record lows on Friday as a debt exchange in Italy prompted some investors to book profits after a recent boost to the rally from the Federal Reserve.
Published 21 Jun, 2014 12:00am
Periphery yields up

Periphery yields up

Yields on lower-rated euro zone bonds edged away from record lows on Friday as a debt exchange in Italy prompted some investors to book profits after a recent boost to the rally from the Federal Reserve.
Published 21 Jun, 2014 12:00am
SE Asian markets: Malaysia, Thailand outperform on a week

SE Asian markets: Malaysia, Thailand outperform on a week

Stocks in Malaysia touched a one-month high while Thai shares extended gains for a second session on Friday, with investors piling into shares of energy and plantation firms as oil held near $115 a barrel and palm oil futures headed for a strong gain on w
Published 21 Jun, 2014 12:00am
FTSE perked up by surge in Shire

FTSE perked up by surge in Shire

Britain's FTSE 100 rose on Friday on the back of a surge in shares of drugmaker Shire Plc, leaving many traders to expect the benchmark index to test record highs soon. Shire hit an all-time high and closed up 16.9 percent at 4,371 pence, adding 15 points
Published 21 Jun, 2014 12:00am
West Indies edge closer to squaring New Zealand series

West Indies edge closer to squaring New Zealand series

Despite a defiant ninth-wicket New Zealand partnership that has forced the match into the final day, the West Indies were poised for a series-levelling victory at close of play on the fourth day of the second Test at Queen's Park Oval on Thursday.
Published 21 Jun, 2014 12:00am
Murali working on new delivery for Lyon

Murali working on new delivery for Lyon

Sri Lankan great Muttiah Muralitharan says he is working on a new delivery for Australia's top spinner Nathan Lyon and expects it to be perfected for their series against Pakistan. The world's leading Test wicket taker has been helping Lyon in Colombo and
Published 21 Jun, 2014 12:00am
Broad takes his second Test hat-trick

Broad takes his second Test hat-trick

Stuart Broad became the first England bowler to take two Test hat-tricks and just the fourth in all after he struck with three succesive balls against Sri Lanka at Headingley on Friday. The seamer, who'd previously performed the feat against India at Tren
Published 21 Jun, 2014 12:00am
Brazil Embassy distributes 'Football' magazine in Pakistan

Brazil Embassy distributes 'Football' magazine in Pakistan

The embassy of Brazil in Islamabad an in acknowledgement of the football fervour that has also swept Pakistan published and distributed a football magazine 'Football' in Urdu and English on the occasion of the 2014 Football World Cup being held in Brazil.
Published 21 Jun, 2014 12:00am
Yaya, Kolo Toure mourn death of brother

Yaya, Kolo Toure mourn death of brother

Ivory Coast World Cup stars Yaya and Kolo Toure were mourning their brother Ibrahim on Friday after the 28-year-old died in England, the country's football federation announced.
Published 21 Jun, 2014 12:00am
Three jailed over English match-fixing plot

Three jailed over English match-fixing plot

A court jailed three men on Friday for up to five years over their involvement in a plot to fix English lower league games after coming to Britain from Singapore. Krishna Ganeshan, 44, and Chann Sankaran, 33, were sent to prison for five years each, with
Published 21 Jun, 2014 12:00am
Ten years on, Sharapova still brightest star

Ten years on, Sharapova still brightest star

Ten years ago, Maria Sharapova routed Serena Williams in the Wimbledon final, climbed into the players box to tearfully embrace her father Yuri and was immediately propelled into a life of staggering riches. Just 17 at the time, Sharapova was the third yo
Published 21 Jun, 2014 12:00am
Honda 'gutted' over Japan lack of ideas

Honda 'gutted' over Japan lack of ideas

Japan midfielder Keisuke Honda slammed the team's lack of creative spark following Thursday's 0-0 World Cup draw with Greece, which left them on the brink of elimination. "We lack ideas," Japan's bleach- blond talisman told local media.
Published 21 Jun, 2014 12:00am
Suarez double shatters England

Suarez double shatters England

Luis Suarez scored twice as Uruguay sent England spinning towards their earliest World Cup exit in 56 years on Thursday with a 2-1 victory. Liverpool striker Suarez grabbed the second of two opportunistic goals in the 85th minute of a tense Group D battle
Published 21 Jun, 2014 12:00am
Kazakhstan eyes 'unified' Islamic banking law

Kazakhstan eyes 'unified' Islamic banking law

Kazakhstan will start drafting a new Islamic banking law that could help the industry develop in the former Soviet state, after a five-year-old set of rules failed to stimulate activity.
Published 21 Jun, 2014 12:00am
Aid not enough for slumping Ukraine economy: economist

Aid not enough for slumping Ukraine economy: economist

Ukraine's economy remains in a downward spiral and the IMF-EU rescue plan for the country is already outdated and insufficient, an economist said Thursday. "The economy remains at a standstill" due to the fighting in the east and lack of confidence in the
Published 21 Jun, 2014 12:00am
UBS, Credit Suisse urged to improve leverage ratios

UBS, Credit Suisse urged to improve leverage ratios

Switzerland's central bank has urged UBS and Credit Suisse to further improve their capital strength, even after good progress made in recent years, due to the "substantial" risks still faced from economic and legal issues. The Swiss National Bank (SNB) s
Published 21 Jun, 2014 12:00am
EU closes loophole in fresh move against corporate tax avoidance

EU closes loophole in fresh move against corporate tax avoidance

European Union finance ministers moved on Friday to close a widely used loophole that allowed multinationals to reduce their tax bills by taking advantage of divergent revenue policies across member states. The decision, passed at an EU finance ministers
Published 21 Jun, 2014 12:00am
Over $5 billion irregularities at China fund, banks: state auditor

Over $5 billion irregularities at China fund, banks: state auditor

Irregularities amounting to more than $5 billion have been found at China's sovereign wealth fund and two large state-owned banks, according to the state auditor, offering a glimpse into the opaque management of government-controlled firms.
Published 21 Jun, 2014 12:00am
Over $5 billion irregularities at China fund, banks: state auditor

Over $5 billion irregularities at China fund, banks: state auditor

Irregularities amounting to more than $5 billion have been found at China's sovereign wealth fund and two large state-owned banks, according to the state auditor, offering a glimpse into the opaque management of government-controlled firms.
Published 21 Jun, 2014 12:00am
Eurozone bailout fund ESM considering non-euro bond issuance

Eurozone bailout fund ESM considering non-euro bond issuance

The euro zone permanent bailout fund, the European Stability Mechanism (ESM), may issue bonds denominated in other currencies than the euro next year to attract new investors, the ESM's Managing Director Klaus Regling said on Thursday. The 500 billion eur
Published 21 Jun, 2014 12:00am
Eurozone bailout fund ESM considering non-euro bond issuance

Eurozone bailout fund ESM considering non-euro bond issuance

The euro zone permanent bailout fund, the European Stability Mechanism (ESM), may issue bonds denominated in other currencies than the euro next year to attract new investors, the ESM's Managing Director Klaus Regling said on Thursday. The 500 billion eur
Published 21 Jun, 2014 12:00am
KP chief minister condemns terror incidents

KP chief minister condemns terror incidents

KP Chief Minister Pervez Khattak has condemned some minor terror incidents in certain areas of the province including Peshawar, Matani and Batagram. The Chief Minister, while paying homage to the martyred police officials and civilians in these incidents,
Published 21 Jun, 2014 12:00am
Former PMDC registrar: IHC reserves judgement

Former PMDC registrar: IHC reserves judgement

The Islamabad High Court (IHC) on Friday reserved its judgment on pre-arrest bail of former registrar Pakistan Medical & Dental Council (OMDC) Dr Ahmad Nadeem Akbar who was allegedly involved in registration of fake doctors.
Published 21 Jun, 2014 12:00am
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