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Jun 08, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2015-02-05
Surge in demand pulls up cotton prices

Surge in demand pulls up cotton prices

Improved demand since a couple of days has resulted in better cotton prices as mills picked up their ready requirements of lint from the market. Both seed cotton (Kapas / Phutti) and lint prices increased at midweek following some recent rains in the cott
Published 05 Feb, 2015 12:00am
Surge in demand pulls up cotton prices

Surge in demand pulls up cotton prices

Improved demand since a couple of days has resulted in better cotton prices as mills picked up their ready requirements of lint from the market. Both seed cotton (Kapas / Phutti) and lint prices increased at midweek following some recent rains in the cott
Published 05 Feb, 2015 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

Tea prices in Bangladesh declined at a weekly auction on Tuesday, ending a brief rise in the previous session, due to tepid demand from local buyers amid renewed political unrest that disrupted supplies. Demand was less from local buyers as political viol
Published 05 Feb, 2015 12:00am
Lean business on grain market

Lean business on grain market

A few changes were seen on the wholesale grain market on Wednesday in the process of trading, they said. Some changes were witnessed on the seeds side, where Til (regular) shed Rs 10 to Rs 4550 and Rs 4900, cottonseeds oilcake with bag Sindh new low type
Published 05 Feb, 2015 12:00am
Qatar population jumps more than 10 percent in 2014

Qatar population jumps more than 10 percent in 2014

Qatar's population grew by more than 10 percent last year, fuelled by the country's massive spending on infrastructure projects, figures released on Wednesday showed. The Qatar National Bank (QNB), in its monthly monitor report, said the number of people
Published 05 Feb, 2015 12:00am
Sony cuts jobs as it trims annual net loss forecast

Sony cuts jobs as it trims annual net loss forecast

Sony on Wednesday slashed its full-year loss forecast, citing a weak yen and pickup in its smartphone and PlayStation console businesses, but warned of more job cuts as it struggles to return to profitability. The company said it now expects to lose 170 b
Published 05 Feb, 2015 12:00am
Sony cuts jobs as it trims annual net loss forecast

Sony cuts jobs as it trims annual net loss forecast

Sony on Wednesday slashed its full-year loss forecast, citing a weak yen and pickup in its smartphone and PlayStation console businesses, but warned of more job cuts as it struggles to return to profitability. The company said it now expects to lose 170 b
Published 05 Feb, 2015 12:00am
EU watchdog gives forex futures breather from clearing

EU watchdog gives forex futures breather from clearing

European Union regulators have given the $127 billion daily currency futures market some breathing space by exempting it from mandatory clearing of transactions in the 28-country bloc. The European Securities and Markets Authority (ESMA) is implementing n
Published 05 Feb, 2015 12:00am
Petrobras management quits

Petrobras management quits

The chief executive and other senior management at Brazil's Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company. The firm's
Published 05 Feb, 2015 12:00am
Private sector adds 213,000 workers in January

Private sector adds 213,000 workers in January

US private employers added 213,000 jobs in January, falling short of the median forecasts of analysts, a payrolls processor report showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 225
Published 05 Feb, 2015 12:00am
US services sector growth accelerates

US services sector growth accelerates

Growth in the US services sector rebounded modestly in January, though companies reported the weakest level of new business growth in more than five years, an industry report showed on Wednesday. Financial data firm Markit said the final reading of its Pu
Published 05 Feb, 2015 12:00am
British business surges, boding well for growth

British business surges, boding well for growth

British businesses enjoyed an unexpectedly strong start to the year, marked by faster hiring and rising new orders that bode well for economic growth in early 2015. A monthly survey by Markit/CIPS of businesses in the dominant services sector suggested th
Published 05 Feb, 2015 12:00am
Global business activity picked up in January

Global business activity picked up in January

Global business activity accelerated last month as firms cut prices for the first time since the middle of 2013, allowing them to build up a backlog of work, a survey showed on Wednesday. J.P. Morgan's Global All-Industry Output Index, produced with Marki
Published 05 Feb, 2015 12:00am
Toyota raises full-year profit forecast to record $18 billion

Toyota raises full-year profit forecast to record $18 billion

The world's biggest automaker Toyota on Wednesday raised its full-year net profit forecast to a record $18.1 billion, citing a weak yen, cost cuts and strong demand in the key North American market. The Japanese firm, maker of the Corolla and Prius hybrid
Published 05 Feb, 2015 12:00am
Toyota raises full-year profit forecast to record $18 billion

Toyota raises full-year profit forecast to record $18 billion

The world's biggest automaker Toyota on Wednesday raised its full-year net profit forecast to a record $18.1 billion, citing a weak yen, cost cuts and strong demand in the key North American market. The Japanese firm, maker of the Corolla and Prius hybrid
Published 05 Feb, 2015 12:00am
Kirchner focuses on China deals amid scandal at home

Kirchner focuses on China deals amid scandal at home

Embattled Argentine President Cristina Kirchner sought to keep the focus on a string of deals with China during a visit to Beijing Wednesday as she became embroiled deeper in a high-profile scandal at home. Kirchner met with Chinese President Xi Jinping a
Published 05 Feb, 2015 12:00am
China cuts bank reserve ratio to boost economy

China cuts bank reserve ratio to boost economy

China's central bank said Wednesday it would make an across-the-board cut in the percentage of funds banks must hold in reserve, the first such cut in nearly three years as the world's second-largest economy falters. The People's Bank of China said in a s
Published 05 Feb, 2015 12:00am
Ford adds 1,550 jobs to build new F-150 pickup truck

Ford adds 1,550 jobs to build new F-150 pickup truck

Ford Motor said Wednesday it was adding 1,550 jobs in response to growing consumer demand for its new aluminium-bodied F-150 pickup truck. Ford said the additional jobs will support stepped-up production of the 2015 Ford F-150, which went on sale in Decem
Published 05 Feb, 2015 12:00am
Erdogan says central bank 'dragging Turkey down', lira hits new low

Erdogan says central bank 'dragging Turkey down', lira hits new low

President Recep Tayyip Erdogan on Wednesday accused the Turkish central bank of seeking to drag Turkey down by refusing to aggressively cut interest rates, a tirade that propelled the lira to a new low. Erdogan, a vehement critic of the nominally independ
Published 05 Feb, 2015 12:00am
Saudi Arabia, Dubai bourses retreat after rallies

Saudi Arabia, Dubai bourses retreat after rallies

Stock markets in Saudi Arabia and Dubai pulled back on Wednesday as oil prices fell after gaining strongly earlier in the week, while technicals and dividend bets supported other Gulf bourses. Brent crude dropped more than 2 percent on Wednesday after a n
Published 05 Feb, 2015 12:00am
South African stocks falter

South African stocks falter

South African stocks snapped a three-day winning streak on Wednesday as profit taking on retailers such as Woolworths and Mr Price who recently hit all-time highs, while ArcelorMittal rose after flagging a narrower full-year loss. The general retailers in
Published 05 Feb, 2015 12:00am
Tokyo stocks 1.98 percent higher

Tokyo stocks 1.98 percent higher

Tokyo stocks closed 1.98 percent higher Wednesday, following sharp rises in New York and Europe sparked by higher oil prices and growing optimism about a possible deal to renegotiate Greece's debt. The Nikkei 225 index at the Tokyo Stock Exchange jumped 3
Published 05 Feb, 2015 12:00am
Wednesday's midday trade: stocks dip as energy rally stalls

Wednesday's midday trade: stocks dip as energy rally stalls

US stocks dipped on Wednesday, in the wake of a two-day rally for the S&P 500, as oil prices declined and labour market data disappointed. The ADP National Employment Report showed private employers added 213,000 jobs in January, short of the 225,000 esti
Published 05 Feb, 2015 12:00am
Wall Street posts second day of strong gains

Wall Street posts second day of strong gains

US stocks jumped more than 1 percent on Tuesday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance. Merger activity also helped, with shares of Office Depot jumping 21.6
Published 05 Feb, 2015 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks rose 0.8 percent on Wednesday as a stimulus package to boost the stock market lifted investor sentiment, paced by gains in brokerage shares including Yuanta Financial. As of 0130 GMT, the main TAIEX index had climbed to 9,524.55, tracking ga
Published 05 Feb, 2015 12:00am
Treasuries yields jump

Treasuries yields jump

US Treasuries yields jumped in a market rout on Tuesday as hopes Greece could strike a new debt deal and a further recovery in oil prices took the safe-haven shine off of high-rated government bonds. Benchmark yields were up 11 basis points in late tradin
Published 05 Feb, 2015 12:00am
Treasuries yields jump

Treasuries yields jump

US Treasuries yields jumped in a market rout on Tuesday as hopes Greece could strike a new debt deal and a further recovery in oil prices took the safe-haven shine off of high-rated government bonds. Benchmark yields were up 11 basis points in late tradin
Published 05 Feb, 2015 12:00am
China stocks down

China stocks down

China stocks closed down on Wednesday, giving up morning gains as investors sold financial shares after China posted data showing its services sector grew at the slowest pace in six months in January. The CSI300 index of the largest listed companies in Sh
Published 05 Feb, 2015 12:00am
Nigeria banking stocks gain

Nigeria banking stocks gain

The index of Nigeria's Top-10 lenders climbed 4.52 percent on Wednesday in volatile trade, as investors piled back into the banking sector on expectations of year-end dividends, one stockbroker said. Brokers said banking stocks, which lost 22 percent last
Published 05 Feb, 2015 12:00am
Hong Kong shares gain

Hong Kong shares gain

Hong Kong shares rose in line with most Asian markets, lifted by a rebound in the oil price and encouraging developments in Greece. The new Greek government dropped calls for a write-down of its foreign debt, easing concerns about growing instability in t
Published 05 Feb, 2015 12:00am
Indian shares tumble

Indian shares tumble

Indian shares continued their retreat from record highs hit last week for a fourth session on Wednesday to mark their lowest close in two weeks as banks declined on concerns the central bank's move to boost lenders' liquidity may weigh on margins. The Res
Published 05 Feb, 2015 12:00am
European shares surge, led by LVMH and Greek banks

European shares surge, led by LVMH and Greek banks

European stocks ended higher on Wednesday as better-than-expected results from LVMH triggered a rally in luxury goods makers, while Greek banks continued to recover on hopes of a deal with the European Union on Greece's debt. Shares in LVMH jumped 8.1 per
Published 05 Feb, 2015 12:00am
Australian shares rally

Australian shares rally

Australian shares scaled a near seven-year peak on Wednesday in a winning run stretching 10 straight sessions, a day after a rate cut at home stoked expectations for further monetary stimulus, while New Zealand stocks were subdued. The S&P/ASX 200 index a
Published 05 Feb, 2015 12:00am
Southeast Asian markets: Manila marks eighth record finish in new year

Southeast Asian markets: Manila marks eighth record finish in new year

Most Southeast Asian stock markets rose on Wednesday as a rally in energy shares boosted the Philippine main index to an eighth record close since the new year, while the Malaysian benchmark posted the biggest single-day gain in more than six weeks. The P
Published 05 Feb, 2015 12:00am
FTSE hindered by Hargreaves and oil stocks

FTSE hindered by Hargreaves and oil stocks

Britain's top equity index retreated from five-month highs on Wednesday as oil stocks slipped, while investment company Hargreaves Lansdown fell after its interim profits declined. The FTSE 100 index closed down by 0.2 percent at 6,860.02 points, after re
Published 05 Feb, 2015 12:00am
Dollar nurses losses in Asia

Dollar nurses losses in Asia

The dollar nursed broad losses on Wednesday, having suffered its biggest one-day fall in over a year as it came under pressure from many fronts amid oil-fuelled gains by commodity currencies. Buyers snapped up commodity currencies as the oil market extend
Published 05 Feb, 2015 12:00am
Growth-linked currencies rise in London

Growth-linked currencies rise in London

The Australian and New Zealand dollars rose on Wednesday after China announced a cut in banks' required cash reserves, adding more liquidity to spur growth in the world's second-biggest economy. The 50-basis point reduction in the reserve requirement, whi
Published 05 Feb, 2015 12:00am
Early trade in New York: Dollar recovers versus basket of currencies

Early trade in New York: Dollar recovers versus basket of currencies

The US dollar recovered against a basket of major currencies on Wednesday, a day after posting its worst one-day loss in over a year, as a lack of progress on a Greek debt deal hurt the euro and as belief in the dollar's longer-term strength returned. Wit
Published 05 Feb, 2015 12:00am
Dollar posts worst day versus majors since late 2013

Dollar posts worst day versus majors since late 2013

The dollar posted its worst day against major currencies since October 2013 on Tuesday on recent weakness in US economic data and easing concerns surrounding Greece's debt load, while a boost in risk appetite helped the Australian dollar recover losses. T
Published 05 Feb, 2015 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 Wednesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-09.00 percent (Previous 07.00-09.00 percent).
Published 05 Feb, 2015 12:00am
Yuan rises

Yuan rises

China's yuan rose to one-week high against the dollar on Wednesday after the US dollar suffered its biggest one-day fall in over a year against a basket of major currencies. The People's Bank of China set the midpoint rate at 6.1318 per dollar prior to ma
Published 05 Feb, 2015 12:00am
Ringgit leads Asia FX gains

Ringgit leads Asia FX gains

Malaysia's ringgit hit a more than three-week high on Wednesday, tracking rallies in oil prices and commodity currencies, while emerging Asian currencies rose on growing risk appetite. The ringgit jumped as much as 2.3 percent to 3.5460 per dollar, its st
Published 05 Feb, 2015 12:00am
Egyptian pound holds steady

Egyptian pound holds steady

Egypt's pound held steady at 7.53 per dollar at Wednesday's central bank auction, remaining unchanged for the first time since the bank began allowing the pound to weaken on January 18. The bank offered 40 million dollars and sold 38.5 million at a cut-of
Published 05 Feb, 2015 12:00am
Sterling soars

Sterling soars

Sterling edged up against the dollar on Wednesday, extending the previous day's strong gains after data showed Britain's services sector expanded faster than expected in January, pointing to robust economic growth. The UK Services Purchasing Managers' Ind
Published 05 Feb, 2015 12:00am
New Zealand and Australian dollar scramble back from multi-year lows

New Zealand and Australian dollar scramble back from multi-year lows

The New Zealand and Australian dollars scrambled back from multi-year lows on Wednesday as a shakeout in bullish US positions gave beleaguered Antipodean currencies some respite. The New Zealand dollar rose to $0.7400, having seesawed from a low of $0.728
Published 05 Feb, 2015 12:00am
My top 10 players to watch-out: Sir Vivian Richards

My top 10 players to watch-out: Sir Vivian Richards

The ICC Cricket World Cup 2015 will be a competitive and intriguing tournament, showcasing the world's best cricketing talent in Australia and New Zealand. The fans will get to enjoy a wide range of batting and bowling styles. Talking to ICC-Cricket.Com,
Published 05 Feb, 2015 12:00am
Engineering Cell of GCU wins Staff cricket title

Engineering Cell of GCU wins Staff cricket title

The Engineering Cell of the Government College University (GCU), Lahore has won the IInd GCU Staff Inter-departmental Cricket Tournament 2015 defeating the team of Director Facilities in the final by four wickets. As many as 14 teams took part in the tour
Published 05 Feb, 2015 12:00am
India versus Pakistan 'bigger than the World Cup'

India versus Pakistan 'bigger than the World Cup'

Cricket is just a game, but try telling that to the 22 players who will walk out for the India vs Pakistan World Cup match in Adelaide on February 15. The Pool B contest was sold out in 20 minutes and no other team in world sport will be under as much pre
Published 05 Feb, 2015 12:00am
Trial matches to select women cricket team for series against SA

Trial matches to select women cricket team for series against SA

Pakistan Cricket Board women wing has called as many as 31 women cricketers for trial matches to be played here on 7th, 8th & 9th February at Lahore Gymkhana Cricket and LCCA Grounds. These trial matches are being organised to select the Pakistan Women Te
Published 05 Feb, 2015 12:00am
Faisalabad win Lyallpur crown

Faisalabad win Lyallpur crown

Faisalabad has won the crown of Second Lyallpur National Tchoukball Championship for Women held at Sports Complex, University of Agriculture, Faisalabad. Faisalabad defeated Dera Ghazi Khan's team by 22-21. Whereas, Lahore stood third by winning against H
Published 05 Feb, 2015 12:00am
BCB president's statement not backed by facts: PCB

BCB president's statement not backed by facts: PCB

To clear any misunderstanding arising out of the Bangladesh Cricket Board (BCB) president Nazmul Hassan's statement to the media in Dhaka on Monday, Pakistan Cricket Board (PCB) has clarified the situation, which is diametrically different to what has bee
Published 05 Feb, 2015 12:00am
World Cup highs and lows

World Cup highs and lows

Highs and lows of the cricket World Cup ahead of the 2015 edition which takes place in Australia and New Zealand from February 14-March 29:
Published 05 Feb, 2015 12:00am
Barca link Neymar accusations to Catalan independence

Barca link Neymar accusations to Catalan independence

Barcelona president Josep Maria Bartomeu has claimed the accusations against the club for tax evasion in the signing of Brazilian star Neymar are linked to their support of Catalan independence from Spain. Bartomeu was charged with tax fraud by a Spanish
Published 05 Feb, 2015 12:00am
Pakistan fired up by rock-steady Misbah, wild thing Afridi

Pakistan fired up by rock-steady Misbah, wild thing Afridi

Pakistan one-day skipper Misbah-ul Haq and predecessor Shahid Afridi play for the same team, but come from different worlds. If the unpredictable Pakistanis are to secure a second World Cup in Australia and New Zealand, they need the two heavyweight talen
Published 05 Feb, 2015 12:00am
Gunmen storm Libyan oilfield, four workers believed killed

Gunmen storm Libyan oilfield, four workers believed killed

Gunmen possibly linked to Islamist militants assaulted and seized control of a Libyan oilfield, killing and kidnapping several workers, Libyan and foreign officials said on Wednesday. A French diplomatic source in Paris said four local employees were beli
Published 05 Feb, 2015 12:00am
Libya releases Russian, Tajik members of detained air crew

Libya releases Russian, Tajik members of detained air crew

Libya has released a Russian and a Tajik, both members of an air crew detained after it flew into the North African country from the United Arab Emirates last year without permission, a judicial official said on Wednesday. The Tripoli-based government, on
Published 05 Feb, 2015 12:00am
UN Mali mission struggling in desert north with no peace to keep

UN Mali mission struggling in desert north with no peace to keep

After UN helicopters strafed separatist rebels in northern Mali last month, residents of the region's largest town Gao took to the streets to celebrate the long-awaited burst of action by the peacekeeping mission. Just days later, a UN base in Gao was att
Published 05 Feb, 2015 12:00am
IS selling, crucifying, burying children alive in Iraq: UN

IS selling, crucifying, burying children alive in Iraq: UN

Islamic State militants are selling abducted Iraqi children at markets as sex slaves, and killing other youth, including by crucifixion or burying them alive, a United Nations watchdog said on Wednesday. Iraqi boys aged under 18 are increasingly being use
Published 05 Feb, 2015 12:00am
Jordanian king vows 'relentless' war on Islamic State's own ground

Jordanian king vows 'relentless' war on Islamic State's own ground

Jordan's King Abdullah vowed a "relentless" war against Islamic State on their own territory on Wednesday in response to a video published by the hard-line group showing a captured Jordanian pilot being burned alive in a cage. Jordan hanged two Iraqi jiha
Published 05 Feb, 2015 12:00am
Doctor cleared in Britain's first female genital mutilation trial

Doctor cleared in Britain's first female genital mutilation trial

A London court on Wednesday acquitted a doctor of carrying out female genital mutilation (FGM), the first such case to be prosecuted in Britain. Dhanuson Dharmasena, 32, said he was "extremely relieved" after a jury at Southwark Crown court found him not
Published 05 Feb, 2015 12:00am
Germany wants new Greek rulers to ditch promises

Germany wants new Greek rulers to ditch promises

Germany wants Greece's new left-wing government to go back on anti-austerity promises made in its first days in office and revert to economic policies its predecessors' agreed with international lenders, a document showed on Wednesday. Greece promptly rej
Published 05 Feb, 2015 12:00am
Sri Lanka's new president vows reconciliation

Sri Lanka's new president vows reconciliation

New President Maithripala Sirisena vowed Wednesday to end Sri Lanka's pariah status by working with the UN and promised national reconciliation, six years after the island's ethnic war ended. In an address to the nation to mark Sri Lanka's 67th anniversar
Published 05 Feb, 2015 12:00am
Mexico leader gets no applause, and plenty of online flak

Mexico leader gets no applause, and plenty of online flak

Mexico's embattled President Enrique Pena Nieto has sparked a social media storm over an off-the-cuff remark he made about not getting applauded after announcing new anti-graft measures. "I already know you're not applauding," Pena Nieto said Tuesday at t
Published 05 Feb, 2015 12:00am
Tens of thousands 'going hungry in drought-hit Madagascar'

Tens of thousands 'going hungry in drought-hit Madagascar'

A prolonged drought has left tens of thousands of people struggling to find food in southern Madagascar, authorities in the Indian Ocean island nation warned Wednesday. Local district leaders said more than 100 people had already starved to death, but the
Published 05 Feb, 2015 12:00am
Free from Ebola, survivors complain of new syndrome

Free from Ebola, survivors complain of new syndrome

Romeo Doe, a 29-year-old tailor who survived Ebola in Liberia, is struggling to cope with the impact of a disease that killed seven members of his family and now threatens his livelihood. Since he was released from an Ebola centre in the capital Monrovia
Published 05 Feb, 2015 12:00am
Chad, Cameroon troops say kill 250 Boko Haram fighters

Chad, Cameroon troops say kill 250 Boko Haram fighters

Troops from Cameroon and Chad killed more than 250 Boko Haram militants in two days of heavy fighting in a major regional offensive against the Islamists from neighbouring Nigeria, their governments said on Wednesday. Cameroon said it forces fought off an
Published 05 Feb, 2015 12:00am
Internet service to be 'public utility' under US plan

Internet service to be 'public utility' under US plan

The top US telecom regulator proposed Wednesday to regulate broadband Internet service providers as "public utility" carriers, in a renewed effort to enforce "net neutrality" rules. Federal Communications Commission chairman Tom Wheeler unveiled the plan
Published 05 Feb, 2015 12:00am
ICAO establishes minute-by-minute aircraft tracking

ICAO establishes minute-by-minute aircraft tracking

An international aviation summit gave strong backing Wednesday to a plan to have all commercial flights emit a distress signal every minute in emergencies, in response to last year's Malaysia Airlines disaster. A large majority of the International Civil
Published 05 Feb, 2015 12:00am
World Bank probes internal handling of Chinese loan

World Bank probes internal handling of Chinese loan

The World Bank is investigating the handling of a $1 billion loan from China to help fund poor countries, sources familiar with the matter told AFP Wednesday. The global development lender was quick to stress that the probe did not implicate Beijing, whic
Published 05 Feb, 2015 12:00am
Shell lands near hospital in Ukraine's Donetsk, at least three dead

Shell lands near hospital in Ukraine's Donetsk, at least three dead

At least two shells landed near a hospital in the separatist-controlled eastern Ukrainian city of Donetsk on Wednesday, killing at least three people nearby, a Reuters eyewitness said. Pictures from the scene showed a huge crater in the ground in front of
Published 05 Feb, 2015 12:00am
Egyptian court sends activist Ahmed Douma to jail for life

Egyptian court sends activist Ahmed Douma to jail for life

An Egyptian court sentenced prominent activist Ahmed Douma to life in prison on Wednesday, judicial sources said, part of a sustained crackdown on Islamist and liberal government opponents. Douma, a leading figure in the pro-democracy revolt that toppled
Published 05 Feb, 2015 12:00am
Amnesty slams Spain overcrowded refugee centres

Amnesty slams Spain overcrowded refugee centres

Amnesty International slammed Spain on Wednesday over conditions in overcrowded refugee centres where it says hundreds of Syrians fleeing war are awaiting asylum. The international human rights watchdog cited one of Spain's key reception centres for undoc
Published 05 Feb, 2015 12:00am
Spanish court sentences six Somalis for piracy

Spanish court sentences six Somalis for piracy

A Spanish court on Wednesday convicted six Somalis for piracy and sentenced them each to 16 and a half years in jail for attacking a Spanish tuna trawler off the coast of Somalia in 2012. The six men have been held in a Spanish jail since November 2012 si
Published 05 Feb, 2015 12:00am
9/11 plotter says Saudi royals backed al Qaeda

9/11 plotter says Saudi royals backed al Qaeda

The only al Qaeda plotter convicted over the 9/11 attacks has told American lawyers that members of the Saudi royal family donated millions to the terror group in the 1990s. French citizen Zacarias Moussaoui, dubbed the "20th hijacker," made the revelatio
Published 05 Feb, 2015 12:00am
Cotton hits one-month high on investor buying, dollar drop

Cotton hits one-month high on investor buying, dollar drop

ICE cotton rose to a more than one-month high on Tuesday due to investor bottom-picking in the broader commodities complex, a drop in the US dollar, and buy stops hit as prices surpassed key technical and psychological levels. The most-active March cotton
Published 05 Feb, 2015 12:00am
Shanghai copper surges

Shanghai copper surges

The most traded copper contract on the Shanghai Futures Exchange settled 1.8 percent higher at 41,160 yuan ($6,589) a tonne on Wednesday, helped by prospects of fresh economic stimulus in China. "Copper made a strong showing after Tuesday's (London) sessi
Published 05 Feb, 2015 12:00am
Copper trims gains as traders digest China central bank move

Copper trims gains as traders digest China central bank move

Copper trimmed gains on Wednesday after touching a two week high earlier in the session as traders digested a move by China's central bank to add more liquidity to the economy in a bid to boost growth. Copper hit a two-week high of $5,755 a tonne earlier
Published 05 Feb, 2015 12:00am
Palm oil climbs

Palm oil climbs

Malaysian palm oil futures climbed to their highest in a week on Wednesday, tracking cues from crude markets and as investors pinned hopes that Indonesia's plan to raise biodiesel subsidies will boost its consumption. Indonesia's government on Tuesday pro
Published 05 Feb, 2015 12:00am
Rubber gains

Rubber gains

Benchmark Tokyo rubber futures ended up 2 percent on Wednesday, after hitting a four-week high, boosted by expectations of a sustained climb in oil prices after crude posted its biggest winning streak in six years a day earlier. Tokyo Commodity Exchange (
Published 05 Feb, 2015 12:00am
Corn gets biggest boost of the new year

Corn gets biggest boost of the new year

US corn and wheat futures climbed 4 percent on Tuesday amid a broad-based rally in commodities led by crude oil as the dollar slipped to a near-two week low on weaker domestic economic data, traders said. Chicago Board of Trade grain markets were overdue
Published 05 Feb, 2015 12:00am
Cocoa extends gains; sugar falls

Cocoa extends gains; sugar falls

Cocoa futures on ICE rose in heavy volume on Wednesday, lifting the New York market further above a one-year low set earlier this week on support from the firm sterling and growing concern about the mid-crop in parts of West Africa. Raw sugar turned lower
Published 05 Feb, 2015 12:00am
Oil snaps four-day rally; glut back in focus with US crude builds

Oil snaps four-day rally; glut back in focus with US crude builds

Oil cut short a four-day rally on Wednesday, with investors and traders focusing again on a supply glut after US crude stocks set record highs. A rebound in the dollar also weighed on crude prices because it makes dollar-denominated commodities pricier in
Published 05 Feb, 2015 12:00am
Gold edges up in Asia

Gold edges up in Asia

Gold edged higher on Wednesday after falling more than 1 percent in the previous session but gains were capped as Greece's plan to end a stand-off with creditors sharpened appetite for risky assets. Spot gold was up 0.3 percent at $1,263.95 an ounce by 07
Published 05 Feb, 2015 12:00am
Gold falls in New York

Gold falls in New York

Gold prices fell more than 1 percent on Tuesday as news that the Greek government had dropped calls for a write-off of its foreign debt sharpened risk appetite, sparking a rally in stock markets. The metal benefited in earlier trade from gains in other co
Published 05 Feb, 2015 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose on Wednesday, reversing a 1 percent in the previous session, as European share prices dropped and China's central bank moved to make more money available for lending to help stimulate its flagging economy. To do this the central bank cut the amo
Published 05 Feb, 2015 12:00am
US MIDDAY: soyabeans slip

US MIDDAY: soyabeans slip

US soyabean futures fell 1.4 percent on Wednesday, setting back from a three-week high notched Tuesday amid a broad-based technical rally in commodities spurred by a weaker dollar, traders said. Outlooks for the driest areas of Brazil's crop region to get
Published 05 Feb, 2015 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold rose up to 1 percent early on Wednesday, reversing the previous session's losses, as share prices dropped and China's central bank moved to make more money available for lending to help stimulate its flagging economy. To do this the central bank cut
Published 05 Feb, 2015 12:00am
LHC rejects bail of spiritual healer

LHC rejects bail of spiritual healer

The Lahore High Court here on Wednesday rejected the bail of spiritual healer Ghulam Rasool who was accused of criminally assaulted an intermediate student. The Lahore South Cantt police had arrested the accused. Earlier applicant took the plea that polic
Published 05 Feb, 2015 12:00am
PCCI delegation calls on Administrator MCP

PCCI delegation calls on Administrator MCP

A delegation of Peshawar Chamber of Commerce and Industry (PCCI) headed by its President, Mohammad Ihtesham Haleem called on Administrator Municipal Corporation Peshawar (MCP) Syed Zafar Ali Shah here on Wednesday and discussed issues relating to municipa
Published 05 Feb, 2015 12:00am
Sarwar conspired against PML-N government: Zubair Gul

Sarwar conspired against PML-N government: Zubair Gul

President of PML-N UK branch Zubair Gul has accused Punjab's former governor Chaudhry Mohammad Sarwar for making the Governor House a den of conspiracies against the sitting government and resigned when his acts were exposed. While addressing a press conf
Published 05 Feb, 2015 12:00am
KP chief minister directs transparent utilisation of uplift funds

KP chief minister directs transparent utilisation of uplift funds

KP Chief Minister Pervez Khattak has called upon the administrative secretaries to pull their sleeves for ensuring efficient and transparent utilisation of resources on the development schemes. All public sector organisations must get their targets otherw
Published 05 Feb, 2015 12:00am
UFG to be reduced by one percent each year: PAC panel told

UFG to be reduced by one percent each year: PAC panel told

Ministry of Petroleum and Natural Resources urged the parliamentary committee that unaccounted for gas (UFG) is above 10 percent, which will be reduced by 1 percent each year. Secretary Petroleum Arshad Mirza informed the Public Accounts Committee (PAC)'s
Published 05 Feb, 2015 12:00am
Terror bid foiled by defusing bomb

Terror bid foiled by defusing bomb

The Bomb Disposal Squad (BDS) on Wednesday averted a bid of terrorism by defusing about one kilogram bomb planted outside of a primary school at Mandian area here. According to police, the bomb concealed in a plastic bag, was planted outside of the Govern
Published 05 Feb, 2015 12:00am
KP to establish public sector meat company

KP to establish public sector meat company

Special Assistant to CM Khyber Pakhtunkhwa on Livestock and Cooperatives, Mohibullah Khan Wednesday said that the provincial government would soon establish a meat company to meet the local demand and export surplus meat. Under this initiative the provinc
Published 05 Feb, 2015 12:00am
Obituary

Obituary

Dr S Mati-ur-Rehman, a renowned scholar, who earned a PhD in Psychology from Duke University, NC-USA, as a Fulbright Scholar, was a psychologist by profession and a well known educationist. He passed away in Karachi on 3rd February, 2015 and was buried th
Published 05 Feb, 2015 12:00am
Government urged to avert downfall of higher education

Government urged to avert downfall of higher education

Speakers on Wednesday have urged the government to prevent the financial collapse of higher education institutions. They demanded that the government must increase university grants, in addition to recompensing previous cuts in recurring expenses to ensur
Published 05 Feb, 2015 12:00am
Telenor Pakistan crosses 2.6 million 3G subscriber mark in 73 cities

Telenor Pakistan crosses 2.6 million 3G subscriber mark in 73 cities

Telenor Pakistan has announced on Wednesday that it has crossed the 2.6 million 3G subscriber mark in 73 cities - enabling the company to maintain its leadership as the largest and fastest growing 3G network in the country. During the current phase of com
Published 05 Feb, 2015 12:00am
Lasbela Chamber welcomes cut in export refinance rate

Lasbela Chamber welcomes cut in export refinance rate

Lasbela Chamber of Commerce and Industry President Yakoob H Karim on Wednesday called for further reduction in export refinance rate. Welcoming the cut in refinance rate to 6 percent by the State Bank of Pakistan (SBP), he said that Lasbela Chamber apprec
Published 05 Feb, 2015 12:00am
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