US stocks declined on Friday after disappointing news in the chip sector gave investors a reason to dump some tech shares, while stronger-than-expected retail sales revived worries about rising interest rates.
The cost of default protection on Portugal Telecom tumbled on Friday after Mexico's Telmex bought a stake in the company, sparking speculation over a take-over bid.
The cost of default protection on Portugal Telecom tumbled on Friday after Mexico's Telmex bought a stake in the company, sparking speculation over a take-over bid.
Chinese shares closed mostly unchanged on Friday as turnover thinned further, with most investors staying out of the market ahead of a slew of first-half earnings and initial public offers.
Seoul shares fell nearly 1 percent on Friday as worries about the global economy continued to weigh, with domestically-focused stocks such as Shinsegae also extending falls following an unexpected rate increase a day earlier.
Britain's FTSE 100 index closed easier on Friday, fading after a firmer start, with fund manager Schroders the biggest faller after disappointing results. Schroders dropped 9.5 percent as traders said its interim numbers were slightly lighter than some in
The Indian rupee fell on Friday as corporates bought dollars and most Asian currencies, including the yen, dropped against the US currency. The yen fell on news that Japan's economy grew at a slower-than-expected 0.2 percent in the second quarter of 2006.
Sterling edged towards a recent 8-month high versus the euro and rose against a broadly firmer dollar on Friday, taking direction from moves in other major currencies in a session with no key British economic data.
The yen fell more than half a percent against the dollar, euro and sterling on Friday, pressured by weaker than expected Japanese growth data which triggered further position adjustment.
Drought and heat stress have further cut yield expectations for the European Union's cereals harvest this year, with productivity likely to fall by nearly three percent from 2005, the European Commission said on Friday.
US ethanol manufacturers, food makers and livestock feeders are consuming so much corn (maize) that stockpiles could be depleted by 2008, unless plantings expand sharply, analysts said on Friday.
Oil prices rose back above $74 on Friday, recovering a little from a 3 percent dive the previous day when an attempted trans-Atlantic aircraft bomb plot raised fears of a fall in oil demand.
British Sugar and UK beet growers have reached agreement on a new contract, British Sugar and National Farmers' Union (NFU) officials said on Friday. "We have reached an agreement," John Hoyles, chairman of the NFU sugar board, told Reuters, declining to
Cotton futures finished lower Friday on speculative fund sales sparked in part by a bearish government crop report, and the poor tone may lead to further losses next week, brokers said.
London white sugar futures closed sharply down on Friday, touching a 6-1/2-month low on speculative and fund selling, traders said. Benchmark October finished down $10.00 or 2.4 percent at $409.00 per tonne after dipping to $403.70, the lowest level for t
Copper futures fell almost five percent in late London Metal Exchange trade on Friday after striking workers at the key Escondida mine said they had resumed talks with the mine's owners.
Gold bounced back on Friday as buying interest resurfaced on price dips and as traders saw a limited impact on air travel and oil demand from an aircraft bomb plot.
US front-month arabica coffee futures ended at a nine-day low Friday, depressed by fund and options-related selling, market sources said. New York Board of Trade's arabica coffee contract for September delivery dipped 1.25 cents to settle at $1.0430 a lb
US cocoa futures ended mixed Friday, with contract switching and spread trading taking the spotlight ahead of the first notice for September delivery next week, market sources said.
Raw sugar prices closed Friday at its lowest level in eight months as commodity fund sales hammered the market and further pressure could lead to lower values next week, brokers said.
Corn futures at the Chicago Board of Trade fell to a fresh six-week low early on Friday on a big corn production forecast by the US Department of Agriculture, traders said.
Soft red winter wheat futures at the Chicago Board of Trade fell to one-month lows early on Friday on bearish data in the US Department of Agriculture's August crop reports, traders said. Spillover weakness from steep declines in corn added pressure.
Copper futures in New York opened slightly higher on Friday, buoyed by concerns over supply shortages out of Chile as the strike at the Escondida mine entered its fifth day, sources said.
A turn to good crop weather in the US Midwest during August, the key yield-determining month for soya, drove Chicago Board of Trade soyabean futures to 8-1/2 month lows and new contract lows on Friday, traders said.
COMEX gold rallied after a slow start on Friday, brushing off an increase in the dollar and instead keying off of a rebound in oil prices, traders said.
First Lady Begum Sehba Musharraf on Friday said the target of universal primary education and health could only be achieved if every citizen participates in its attainment with a sense of national obligation.
The 6th anniversary of the founder of Fountain House and psychiatrist, Professor Dr Mohammad Rashid Chaudhry will be observed on Sunday. Quran Khwani for the eternal peace of departed soul will be held at Fountain House. Later scholar Dr Arif Rashid will
The government should take approval of the Parliament before the privatisation process takes place. It must re-assess if there is need to privatise this national asset. Enough of privatisation has been carried out and we are on the losing end eroding our
Apropos Amjad Aziz Khan's letter on UBL pensioners, published in your letters columns on August 7, 2006, I fully endorse the views expressed by the writer. The bank has failed to raise the pension of the old employees despite time-to-time increase approve
Reference the letter by Saleem Mahmood titled, 'Facts about auto industry' that has appeared in your prestigious publication on August 6, I would like to share my views on the subject and point to certain self-contradictory facts.
The contents of last paragraph of the editorial of daily "Business Recorder", Karachi, titled "The load-star for future privatizations", published on 10.08.2006, to the effect that during the course of hearing of Pakistan Steel privatisation case b
Among the many favourite sayings of our leaders is one that goes something like this "Pakistan will stand high and tall in the comity of nations" - true only if the comparison is limited to the Sub Saharan African region, for if they were even remotely re
According to a Recorder Report at a recent meeting with citrus growers, processors and exporters, the Federal Minister for Food, Agriculture and Livestock (Minfal) gave an overview of the horticulture policy and the measures adopted to improve the marketi
According to the Poverty Reduction Strategy Paper (PRSP) submitted by the Planning Commission, the gap between the rich and the poor as measured by Gini Coefficient has increased during the last four years.
Lahore Stock Exchange (LSE) has launched Unique Identification Number (UIN) with an objective to bring more efficiency and transparency to the stock business. "We have successfully launched the system from August 1".
The dualisation of Lahore Kasur road first phase-Kahna to Khaira distributary would be completed by the end of current fiscal year at a cost of Rs 670 million.
The University of Health Sciences (UHS) is organising a five-day international workshop on "Curriculum Development", starting from August 15. The workshop, which has been organised by UHS Medical Education Department, will be facilitated by Professor Davi
Foolproof secrecy system and high quality paper marking procedure has been introduced while uniform question papers will be set for matriculation exams in all boards of intermediate and secondary education throughout the province from next year.
An accountability court has initiated necessary proceedings for declaring Water and Power Development Authority's (Wapda) former chairman General Zahid Ali Akbar (retd) as proclaimed offender. The court initiated the proceedings after his failure to appea
Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Abdul Rasheed Lone and Orient Power Company Limited (OPCL) Chief Executive Officer Nadeem Babar inked the gas supply agreement.
Pakistan Cricket Board (PCB) has assured the Lahore City Cricket Association (LCCA) that payment of letters share in gate money will be made to it at the earliest. This was revealed by LCCA President Amir Hayat Khan Rokhari while talking to newsmen here o
Lahore Businessmen Association for Rehabilitation of Disabled (LABARD), President Mohammad Pervaiz Malik has urged the philanthropists to come forward and join hands with the association so that free of cost cornea transplant facility being offered by the
Hudood Ordinance issue would be resolved in accordance with the aspirations and wishes of the masses, as consensus has already been developed and even hard-liners are also agreed upon to bring changes in it.
Punjab Minister for Irrigation Chaudhry Aamir Sultan Cheema has directed the Irrigation Department to sort out the irrigation land within limits of Lahore city and get it vacated by illegal occupants with the help of law-enforcement agencies.
Punjab Employees Social Security Institution (PESSI) Commissioner, Syed Tahir Raza Naqvi has said that measures are afoot to ensure private sector role in the management of all social security hospitals so that their workings could be made more transparen
Punjab Chief Minister Chaudhry Pervaiz Elahi has said that peace and tranquillity is essential for progress and prosperity, and it is only through accelerating the pace of development that the problem of unemployment could be tackled.
Allied Bank Limited has selected Temenos T24 Core Banking Software Solution for implementation across its branches countywide. Temenos is a software company based in Geneva, Switzerland, and its core banking software is rated as the leading such product i
NetSol Technologies Limited has achieved Capability Maturity Model Integration (CMMI) Level 5. According to a press release issued here on Friday, Rayney Wong, an authorised lead appraiser from the Software Engineering Institute USA, made the announcement
Punjab Literacy and non-Formal Basic Education Minister, Hussain Jahania Gardezi has said that poverty reduction and human development were priority areas of the government under the 'Education For All' (EFA) programme.
The completion of Sundar Industrial Estate (SIE) and an impressive increase in the industrial activity would enhance Punjab`s gross domestic product (GDP) by more then 25 percent, said Provincial Secretary Industries Anwar Ahmad Khan during his visit to t
Tree plantation drive is in full swing with 'Shisham', the traditional tree of Punjab, being planted in abundance across the province with measures taken to ensure protection of the saplings.
Sindh Home Minister Rauf Siddiqui on Friday taking notice of a news published in a section of press about kidnapping and gang-rape by 14 persons of a girl, daughter of one Abdul Rahman Solangi, in the limits of Chakah police station, Ubauro, directed DPO
President of Khushab tehsil PPP Syed Abid Hussain Sherazi resigned from the PPP and joined MQM. He announced on Thursday night in the presence of MQM MNA Devdas and Altaf Zaidi, member of organising committee, Punjab.
Muttahida Qaumi Movement (MQM) is an ally of the government and will support the government in no-confidence motion against Prime Minister Shaukat Aziz, the MQM MNA Devdas said while speaking at the inaugural ceremony of MQM unit at Khushab.
A member of the Lahore High Court Bar Association (LHCBA) has served a legal notice to Secretary Health Punjab asking him to give details pertaining to action taken to check adulteration in eatables within fortnight; otherwise he will file a contempt of c
The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
People's Lawyers Forum (PLF) President A.K. Dogar has requested the Chief Justice of Pakistan to fix his petitions for early hearing. While talking to newsmen here on Thursday.
A member of the Supreme Court Bar Association (SCBA) has served a legal notice to Speaker National Assembly for allowing a move pertaining to serving of one dish in marriage ceremonies.
Former chairman of Privatisation Commission and Pakistan Muslim League (PML-N) leader Khawaja Asif has said the 'word' commission and omission used by the Supreme Court in its judgement in the Steel Mill case means corruption in terms of definition provid
The provincial selection board of NWFP on Friday recommended the move-over of more than 100 officers of different departments to next higher posts. The meeting of the board was held under the chairmanship of Chief Secretary Ejaz Ahmad Qureshi. The meting
Combined opposition on Friday predicted the return of true democracy, and revival of the Constitution as it stood on October 12, 1999, in a very short time, as Awami National Party also formally joined their ranks in the 'political struggle'.
Former Prime Minister and Chairperson of the Pakistan Peoples Party Mohtarma Benazir Bhutto has expressed grief over the havoc played by rains in the country and asked the regime to gear up for the relief and rehabilitation of flood victims.
The leader of the forward bloc in the ruling PML, Riaz Pirzada, has said that Prime Minster Shaukat Aziz should tender his resignation in the wake of the detailed judgement in Steel Mill privatisation case as it would enhance his political image.
Muttahida Majlis-i-Amal (MMA) leader Hafiz Salman Butt on Friday announced that MMA will hold its public meeting at Minar-e-Pakistan on August 14, at any cost. Talking to newsmen here on Friday, Butt said that MMA had since made a request to the City Dist
Chairman Senate, Mohammedmian Soomro on Friday said that as people to people contact paved the way for strengthening the friendly ties, frequent visits of businessmen, parliamentarians, students and people from various walks of life should be encouraged b
In a major move, the Central Board of Revenue (CBR) has reshuffled 17 officers of Customs and Excise Group (BS-20) and 40 of the Income Tax Group (Grade-19 & 20) with immediate effect.
Two separate reports prepared by the committees of the City District Assembly on both boys and girls schools in the district have highlighted dilapidated conditions of the public sector schools.
Bearish trend was witnessed in the interbank market on Friday as importers' demand for US currency forced the rupee to surrender two paisa versus dollar at 60.31 and 60.33 for buying and selling, respectively.
Punjab University Admission Committee's meeting on Thursday decided that the university departments/colleges/ institutes/centres should also issue and receive the forms from candidates in person.
Bearish trend was witnessed in the interbank market on Friday as importers' demand for US currency forced the rupee to surrender two paisa versus dollar at 60.31 and 60.33 for buying and selling, respectively.
The government will soon introduce a bill in the Parliament to ban illegal business of kidneys and other human organs as the Health Ministry admits that Pakistan has become an international kidney sale point, official sources told Business Recorder.</i
The review begins from the current Financial Year 2005-06 for nine months (9M 2005-06) and with that is dovetailed last financial year 2004-05 for 9 months review along with performance statistics.
Leader of the House Wasim Sajjad on Friday said the people fully supported the policies of President Pervez Musharraf and Prime Minister Shaukat Aziz as their policies meant to benefit them.
The review begins from the current Financial Year 2005-06 for nine months (9M 2005-06) and with that is dovetailed last financial year 2004-05 for 9 months review along with performance statistics.
Chairman, National Vocational Technical Education Commission/Chairman Erra Altaf Saleem said on Friday that government was giving special attention towards revamping of technical education in view of emerging needs of the country.
The overall macroeconomic stability enabling the environment for investment, greater employment opportunities and enhanced pro-poor expenditures have facilitated reduction in poverty level. Accordingly, the incidence of poverty has fallen from 34.5 percen
The German Ambassador to Pakistan Dr Gunther Mulack visited Siemens Pakistan recently and after touring the industrial complex in SITE and attending a briefing about Siemens operations in Pakistan lauded the efforts of Siemens and said it was the flag bea