Cricket officials in the Indian capital are hoping Pakistan President Pervez Musharraf will bail them out after municipal authorities refused permission to stage a high-profile match at a stadium still under construction. Musharraf, on an invitation from
Middle-order batsman Craig McMillan has been dropped from the New Zealand side to play Australia in the third Test this week, with James Marshall brought in to play alongside identical twin brother Hamish. Australia retained the Trans-Tasman trophy even t
Chelsea manager Jose Mourinho is expecting UEFA charges that his team lied about an incident during a Champions League match in Barcelona to be dismissed. UEFA charged Chelsea with bringing the game into disrepute on Monday, citing Mourinho, his assistant
Chinese shares closed down 0.4 percent on Wednesday at nearly their lowest levels in six years as investors sold steel issues such as Baoshan Iron and Steel Co Ltd amid fears of further economic cooling steps. The benchmark Shanghai composite index droppe
Japan's Nikkei share average fell 0.87 percent to a four-week closing low on Wednesday, following a slide on Wall Street after the US Federal Reserve signalled it may quicken the pace of its interest rate rises. Selling hit some exporters, such as Honda M
Seoul shares fell to their lowest close in more than a month on Wednesday, led by top exporters such as LG Electronics, on worries the Federal Reserve would raise US interest rates at a more aggressive pace. Other blue chips also lost ground, responding t
Sri Lankan stocks fell for the second consecutive session on Wednesday as small investors skimmed profits across the board after recent gains, brokers said. The key Colombo all-share index fell a provisional 0.17 percent, or 2.98 points, to 1,730.89 point
Thousands of Buddhist monks and anti-alcohol campaigners converged on the Stock Exchange of Thailand on Wednesday to cheer a delay to a listing of the brewer of the country's best-selling beer. Thai Beverages, producer of Chang Beer and a top-selling whis
US Treasuries prices slumped on Tuesday after the Federal Reserve made note of rising inflation pressures in its post-meeting statement, stoking fears of bigger rate increases at future meetings. The benchmark 10-year Treasury note fell 27/32 in price, pu
US Treasuries prices slumped on Tuesday after the Federal Reserve made note of rising inflation pressures in its post-meeting statement, stoking fears of bigger rate increases at future meetings. The benchmark 10-year Treasury note fell 27/32 in price, pu
US stocks tumbled on Tuesday as investors were unnerved by comments from the Federal Reserve that inflation pressures had picked up, as it hiked rates by a quarter point, as expected. The comments sparked fears of more aggressive rate hikes ahead, pushing
Hong Kong blue chip stocks fell to their lowest level in nearly seven weeks on Wednesday, shedding 1.25 percent as investors fretted about higher borrowing costs after a US interest rate hike overnight. The US Federal Reserve, which lifted its key funds r
Taiwan stocks ended little changed on Wednesday, pressured by weakness on Wall Street but investors took advantage of market dips to buy big tech shares like UMC on hopes of improving fundamentals. The TAIEX index fell to the lowest intraday point in near
Indian shares slid sharply for a second straight day on Wednesday, with the key index seeing its lowest close in nearly two months. The benchmark 30-share Mumbai index closed 1.24 percent lower at 6,454.46 points, the lowest since January 28's 6,419.09. I
A big jump in energy costs pushed US consumer prices up 0.4 percent in February and the pace of underlying inflation also quickened, the government said on Wednesday in a report that stoked inflation worries. The Labour Department said the core consumer p
German business sentiment unexpectedly deteriorated for a second consecutive month in March, signalling a slowing of economic growth as a hoped-for pickup in investment demand failed to materialise. The Munich-based Ifo economic research institute said on
Yahoo Inc said on Wednesday it will soon begin giving users of its free Web e-mail service 1 gigabyte of storage, four times more than it now offers, amid intense competition. Consumers are increasingly using their Web e-mail inboxes as a repository for e
Oracle Corp, the world's second-biggest software company, on Tuesday posted a 15 percent drop in quarterly net profit due to charges related to its $10.6 billion purchase of rival PeopleSoft. Oracle's profit, excluding charges, was ahead of the average Wa
Oracle Corp, the world's second-biggest software company, on Tuesday posted a 15 percent drop in quarterly net profit due to charges related to its $10.6 billion purchase of rival PeopleSoft. Oracle's profit, excluding charges, was ahead of the average Wa
Sweden's Ericsson has sued UK-based mobile phone firm Sendo for infringements on its GSM and GPRS handset technology patents, the telecom equipment maker said on Wednesday. Ericsson said in a statement it wanted monetary damages from the privately held fi
India is ready to spend up to 25 billion dollars on overseas oil and gas ventures to meet spiralling demand, Oil Minister Mani Shankar Aiyar said Wednesday. "We are in a position to raise 25 billion dollars to invest in acquiring oil and gas properties ab
Money flowed out of the eurozone in January as investors based in the bloc bought foreign bonds enthusiastically, data showed on Wednesday. Purchases of foreign bonds accounted for over three quarters of the 31.2 billion euro net outflow of direct and por
Money flowed out of the eurozone in January as investors based in the bloc bought foreign bonds enthusiastically, data showed on Wednesday. Purchases of foreign bonds accounted for over three quarters of the 31.2 billion euro net outflow of direct and por
Microsoft Corp put itself on a collision course with European Union authorities on Wednesday in a dispute over the powers of a trustee who is to make sure the software giant stops violating antitrust law. The EU executive Commission has ruled that Microso
Japan said Wednesday its trade surplus in February shrank for a second consecutive month as rising oil prices continued to boost imports and Asian exports, a key driver for economic growth, stalled. The data came as the world's second-largest economy is s
European Union leaders rushed to the rescue of President Jacques Chirac on Wednesday in a bid to save a knife-edge French referendum on the EU constitution by retreating on a disputed bill to open up the services sector. Their decision to send a draft der
Europe buried misgivings over Washington's nomination of Iraq war architect Paul Wolfowitz to head the World Bank on Wednesday, making clear that it would not stand in his way. European Union leaders pressed, nevertheless, for a meeting with the US deputy
A feud between the Ambani brothers running India's Reliance group, the country's largest private conglomerate, is near to a settlement, sources close to the negotiations said on Wednesday. Representatives of the brothers have been in talks with a mediator
Malaysian crude palm oil futures closed more than half a percent down on Wednesday, just above the psychologically important level of 1,400 ringgit, after a drop in rival soyaoil. Dealers said export numbers of palm oil for March 1 to 25, due on Friday, w
The UN World Food Programme (WFP) bought 6,000 tonnes of maize for Kenya in March, a WFP buyer said on Wednesday, adding the agency might still buy from Zambia despite its export ban. "We bought 6,000 tonnes of South African maize for Mombasa," the buyer
Chinese sugar plants are unlikely to import sugar from the world market for domestic sale given the current high world price, traders said on Wednesday. Rumours persist in the market that China bought around 100,000 tonnes, perhaps more, of sugar, likely
Rice futures at the Chicago Board of Trade closed firm on Tuesday on a technical bounce, traders said. CBOT rice closed near the highs on Monday, which triggered follow-through technical buying early Tuesday. That set a firm tone to the Tuesday's trade. M
Soyabean futures at the Chicago Board of Trade bounced higher on Tuesday on a mild recovery after the sharp price sslide on Monday, traders said The recovery was limited after a month-long rally led by commodity fund buying. The stronger dollar on Monday
Raw sugar futures closed with small losses on Tuesday on speculative sales, but trade buying tied to talk of possible consumer purchases blunted the losses in the market, analysts said. The New York Board of Trade's May raw sugar contract eased 0.01 cent
Vietnamese rice prices have firmed more than 1 percent after the Philippines said this week it would import an additional 100,000 tonnes of the grain, traders said on Wednesday. They added rice prices in Vietnam, the world's second-largest exporter of the
Tokyo rubber futures sank on Wednesday to briefly touch a one-week low in the absence of fresh news but traders refrained from selling aggressively ahead of this week's expiry of the spot contract. The benchmark August TOCOM rubber contract on the Tokyo C
Tin fell $10 a tonne in Malaysian trade on Wednesday as sellers continued to offload the metal despite a turnaround in its London price. Spot tin on the Kuala Lumpur Tin Market settled at $8,340 a tonne, extending Tuesday's $160 drop. The local market has
Oil prices deepened losses toward $55 a barrel on Wednesday as Opec deliberated a second supply increase to cool spiralling prices and a recovering dollar lured some fund money out of commodities. The US dollar held near a one-month high against the euro
Chinese copper futures fell on Wednesday as a rising US dollar outweighed support from a firmer domestic spot market. The US Federal Reserve raised benchmark interest rates by 25 basis points on Tuesday. That pushed the dollar to a one-month high against
Gold fell around 1 percent in Asian trading on Wednesday while silver and platinum were near 1-month lows after a rising US dollar triggered panic selling. Spot gold fell to $425.80 an ounce, its lowest since February 21, before rebounding to $426.50/427.
Tokyo gold futures extended losses to a one-month low on Wednesday, as bullion sank about one percent on the back of a stronger dollar after the US Federal Reserve warned it may act more aggressively to tame inflation. But losses on the Tokyo Commodity Ex
US gold futures settled fractionally higher on Tuesday as traders played it safe before hearing the Federal Reserve's decision on US interest rates and after Monday's hefty sell-off, dealers said. In other precious metals, silver closed at a fresh six-wee
US copper futures started with steep gains on Tuesday, when some participants needed to cover short positions a day after a sharp sell-off, traders said. On Monday, some fund investors sold holdings in copper as well as other commodities after deciding to
Australia's shorn wool output is expected to be little changed at 475 million kg in the year ending June 2006, an industry body said on Tuesday. This is the first forecast for the 2006 production year and compares with a revised forecast for the year endi
New York cocoa futures closed modestly weaker amid thinly traded volumes on Tuesday, with market players focusing on spread trading between contracts following the previous session's sharp drop, traders said. "After yesterday's big move down, the market s
The highly contagious soybean rust disease has spread to a new county in Florida, the second finding in a month, state scientists said on Tuesday. The University of Florida confirmed soybean rust on "old and new kudzu leaves" in Hernando County on the Flo
Corn seeds developed by Swiss agrochemicals group Syngenta AG were mistakenly contaminated with a strain of genetically modified corn during 2001 through 2004, the company said on Tuesday. Syngenta said that all of the problematic plantings and seed stock
New York arabica coffee futures settled firmer across the board Tuesday, with light trade and roaster buying snapping four straight sessions of sagging prices, market sources said. The New York Board of Trade's front-month May arabica delivery rose 0.70 c
Security Papers Limited (SPL) was established in 1965; it became a public company and was listed on Karachi Stock Exchange in 1967. The company also became a joint venture between Pakistan, Iran and Turkey in 1967. The company manufactures paper for bank
Security Papers Limited (SPL) was established in 1965; it became a public company and was listed on Karachi Stock Exchange in 1967. The company also became a joint venture between Pakistan, Iran and Turkey in 1967. The company manufactures paper for bank
The Central Board of Revenue (CBR) has decided to impose central excise duty (CED) in VAT mode on professional service-providers to meet the ambitious revenue target of Rs 650-660 billion in next fiscal 2005-06 and raise tax to GDP ratio. Official sources
The 15-member parliamentary delegation fears that another confrontation of a greater magnitude between the Frontier Corps and tribesmen can erupt any time at Dera Bugti in case the 'ominous situation' was not immediately defused. In interviews with Bus
Unidentified gunmen on Wednesday ambushed the car of former Northern Areas Inspector General Police, Sakhiullah Jan Tareen at Juttal, some 10km from Gilgit, leaving him dead and injuring his son, daughter-in-law and driver. Sources from Gilgit told Bus
Unidentified gunmen on Wednesday ambushed the car of former Northern Areas Inspector General Police, Sakhiullah Jan Tareen at Juttal, some 10km from Gilgit, leaving him dead and injuring his son, daughter-in-law and driver. Sources from Gilgit told Bus
Poland has expressed interest in joint ventures with Pakistan in agriculture and food processing sectors and research projects. Polish Consul General Ireneusz Makles told Business Recorder on Wednesday that Poland was interested in close co-operati
Poland has expressed interest in joint ventures with Pakistan in agriculture and food processing sectors and research projects. Polish Consul General Ireneusz Makles told Business Recorder on Wednesday that Poland was interested in close co-operati
The private sector will now play a key role in the manufacture of the hi-tech Sukhoi-30 fighter at the Hindustan Aeronautics Limited, the company's chairman A K Baweja said. Addressing after a ceremony where two technologically upgraded Sukhois were deliv
Pakistan will get duty reduction of around 3.5 per cent in export of all products, except for textile and clothing, to the European Union (EU) member countries under new normal generalised system of preferences (GSP) scheme. The new EU GSP scheme is proba
Pakistan will get duty reduction of around 3.5 per cent in export of all products, except for textile and clothing, to the European Union (EU) member countries under new normal generalised system of preferences (GSP) scheme. The new EU GSP scheme is proba
With a view to giving boost to the country's rice export, the government has decided to set up a 'Rice City' at Gwadar port. According to information made available to Business Recorder here on Wednesday, necessary paper work in this regard has alr
With a view to giving boost to the country's rice export, the government has decided to set up a 'Rice City' at Gwadar port. According to information made available to Business Recorder here on Wednesday, necessary paper work in this regard has alr
The Ministry of Commerce (MoC) has proposed that the border crossing infrastructure (BCI) at Chaman and Torkham requires up-gradation and modernisation to ensure fast track transit of trade and transport to Afghanistan. This proposal was put forward by a
The Ministry of Commerce (MoC) has proposed that the border crossing infrastructure (BCI) at Chaman and Torkham requires up-gradation and modernisation to ensure fast track transit of trade and transport to Afghanistan. This proposal was put forward by a
The Pakistan Engineering Services (Pvt) Limited (PES) has been awarded a contract worth millions of rupees by the Emirates Trading Agency (Al Ghurair Group) of United Arab Emirates (UAE) for conducting feasibility study for a 160 MW thermal power plant in
The Pakistan Engineering Services (Pvt) Limited (PES) has been awarded a contract worth millions of rupees by the Emirates Trading Agency (Al Ghurair Group) of United Arab Emirates (UAE) for conducting feasibility study for a 160 MW thermal power plant in
A civilian was killed in a car-bomb explosion, while occupation troops shot dead four freedom fighters commanders as fresh violence erupted in Indian occupied Kashmir, police said on Wednesday. The violence comes a fortnight ahead of resumption of a bus s
A civilian was killed in a car-bomb explosion, while occupation troops shot dead four freedom fighters commanders as fresh violence erupted in Indian occupied Kashmir, police said on Wednesday. The violence comes a fortnight ahead of resumption of a bus s
Japan's parliament enacted an 82.18 trillion yen ($778.7 billion) budget on Wednesday for the fiscal year starting in April, featuring reductions in spending and bond issuance to help tackle ballooning public debt. The widely expected passage by the upper
German police raided the homes and offices of former DaimlerChrysler staff suspected of scamming the carmaker and seized evidence in a breach of trust investigation, prosecutors said on Wednesday. The probe centres on allegations that former employees use
The White House announced on Wednesday that Timothy Adams, a former chief of staff at the US Treasury, was being nominated for a senior Treasury position as under secretary for international affairs. The job, which requires Senate confirmation, would give
Showtime, a satellite pay-TV network in the Middle East and North Africa, has hired Morgan Stanley and Goldman Sachs for an initial public offering which could value it at up to $2 billion, sources familiar with the matter said. The company is set to be l
The Federal Government is said to be quietly nudging the big banks to rescue the Karachi Stock Exchange from the settlement crisis it is facing to the tune of Rs 60 billion, it is reliably learnt. Hectic behind the scenes activity was seen on Wednesday, a
The Federal Government is said to be quietly nudging the big banks to rescue the Karachi Stock Exchange from the settlement crisis it is facing to the tune of Rs 60 billion, it is reliably learnt. Hectic behind the scenes activity was seen on Wednesday, a
The Federal Government is said to be quietly nudging the big banks to rescue the Karachi Stock Exchange from the settlement crisis it is facing to the tune of Rs 60 billion, it is reliably learnt. Hectic behind the scenes activity was seen on Wednesday, a
The saboteurs in Balochistan during their latest move blown up a gas pipeline, authorities said here on Wednesday. "A four-foot (1.5 metre) section of the pipeline was blown up," security force commander Khair Mohammad Jamali told Reuters. The ruptured pi
The saboteurs in Balochistan during their latest move blown up a gas pipeline, authorities said here on Wednesday. "A four-foot (1.5 metre) section of the pipeline was blown up," security force commander Khair Mohammad Jamali told Reuters. The ruptured pi
The Private Power and Infrastructure Board (PPIB) is expecting dollars eight billion investment in power sector in five years. The decision to present three thermal power projects of 1200 MW for International Competitive Bidding (ICB) was the part of stra
The Private Power and Infrastructure Board (PPIB) is expecting dollars eight billion investment in power sector in five years. The decision to present three thermal power projects of 1200 MW for International Competitive Bidding (ICB) was the part of stra
The Private Power and Infrastructure Board (PPIB) is expecting dollars eight billion investment in power sector in five years. The decision to present three thermal power projects of 1200 MW for International Competitive Bidding (ICB) was the part of stra
The Central Board of Revenue (CBR) has decided to impose central excise duty (CED) in VAT mode on professional service-providers to meet the ambitious revenue target of Rs 650-660 billion in next fiscal 2005-06 and raise tax to GDP ratio. Official sources
Iraqi commandos backed by US troops killed 84 insurgents in a battle to seize a training camp north of Baghdad, one of the highest guerrilla death tolls in the country's nearly two-year-old insurgency. Baghdad's Interior Ministry said the dead included Ar
Prime Minister Shaukat Aziz said on Wednesday that the current economic growth was sustainable. Taking to Ms Nasira Zuberi in an interview on Aaj TV, the Prime Minister said that the growth rate would be maintained between seven to eight percent. Earlier
Prime Minister Shaukat Aziz said on Wednesday that the current economic growth was sustainable. Taking to Ms Nasira Zuberi in an interview on Aaj TV, the Prime Minister said that the growth rate would be maintained between seven to eight percent. Earlier
Prime Minister Shaukat Aziz said on Wednesday that the current economic growth was sustainable. Taking to Ms Nasira Zuberi in an interview on Aaj TV, the Prime Minister said that the growth rate would be maintained between seven to eight percent. Earlier
President General Pervez Musharraf, while calling upon the nation to combat internal threats of extremism and terrorism through concerted efforts, said on Wednesday that Pakistan could not be oblivious to its defence and security and its armed forces are
President General Pervez Musharraf, while calling upon the nation to combat internal threats of extremism and terrorism through concerted efforts, said on Wednesday that Pakistan could not be oblivious to its defence and security and its armed forces are