Controls over air fares, fuel supply and aircraft purchases are among the restrictions keeping China's aviation sector from growing at its full potential, an industry consultancy said.
Oil and gas drilling rig company Hercules Offshore Inc said on Monday it agreed to buy larger peer TODCO for $2.3 billion in cash and stock, giving it a stronger position in the Gulf of Mexico. Houston-based Hercules said TODCO shareholders will receive 0
UK-based oil explorer Burren Energy Plc and Italy's ENI said they had agreed to split a stake in a Congolese oil field that ENI sought to buy from France's Maurel et Prom, as Burren reported lower-than-expected profits.
China must adopt a more sustainable model for development "as soon as possible" or risk serious environmental and economic fallout, state media on Monday quoted top officials as saying.
Chinese advertising company Focus Media Holding Ltd is considering acquiring four Internet firms to bolster its fledgling online business, an official newspaper reported on Monday.
Britain-based Virgin Atlantic has set its sights on 25 percent of the market share when it launches its London-Nairobi route later this year, its chairman Sir Richard Branson said Monday.
China's latest interest rate hike is only a first step as regulators show signs of increasing urgency in trying to slow the pace of growth in Asia's second-largest economy, analysts said Monday. It was the third time in a year the People's Bank of China (
Latin American expatriates sent some 62 billion dollars to their home countries last year, more than all of the combined direct foreign investment and aid to the region, according to data released Monday.
PetroChina Co Ltd, the world's fourth-largest oil producer, posted a 13 percent slide in second-half earnings - its worst six-month showing since 2002 - as costs bit and refining losses deepened.
PetroChina Co Ltd, the world's fourth-largest oil producer, posted a 13 percent slide in second-half earnings - its worst six-month showing since 2002 - as costs bit and refining losses deepened.
Bank of Japan policymakers began a two-day meeting on interest rates Monday but no change is expected this month after February's quarter point rise, which was the first since July, economists said.
The Chinese economy is unlikely to experience a hard-landing and could weather a drop in the value of the US dollar, the head of China's central bank said in a magazine interview.
Privately-held US firm Carlyle has agreed to again reduce its planned stake in Chinese machinery maker Xugong after it first cut the size of the purchase in October, state media reported Monday.
US Airways Group said on Monday its operations were getting back to normal after last week's winter storm in the US Northeast stranded thousands of passengers. "We were able to reaccommodate the majority of our passengers yesterday," said airline spokeswo
The Hong Kong dollar erased early gains to end marginally lower on Monday after corporate demand for the US currency and some arbitrage trades kicked in.
The Australian dollar seesawed in a firm but narrow range on Monday as investors booked profits after gains of nearly 4 percent in the past two weeks and awaited a statement from a Federal Reserve policy meeting later this week.
The yen fell against other major currencies on Monday, giving up earlier gains made in the wake of China's rate hike as a rebound in the Nikkei share average eased fears about investors further cutting back on riskier assets.
Most Asian currencies edged up against the dollar on Monday, with sentiment slightly bullish after a weekend decision by China to raise interest rates boosted hopes of faster yuan appreciation.
The Swiss franc came under pressure versus major currencies on Monday, echoing a fall in the yen, as a rebound in equity markets eased fears about investors cutting back on riskier investments.
The yuan closed flat against the dollar on Monday after hitting a post-revaluation intraday high during the morning, buoyed by the central bank's hike in official interest rates over the weekend.
At least 64 miners were still trapped underground on Monday after a deadly methane explosion ripped through a Russian coal mine, a spokesman for the local administration said. The spokesman said 200 people were below the surface when the blast hit the Uly
Twelve people were killed and some 14,000 made homeless after a cyclone struck northern Madagascar last week, according to revised figures released Monday.
Severe floods and avalanches left at least 17 people dead in western Afghanistan, officials said Monday, as Nato choppers evacuated hundreds of villagers from flooded regions in the country's south.
The United States has approved a visa for Iranian President Mahmoud Ahmadinejad to address the UN Security Council when it votes on a new sanctions resolution to curb his country's nuclear programme, a senior US official said Monday.
Marking the fourth anniversary of the Iraq war, President George W. Bush warned sceptical Americans on Monday that a swift troop withdrawal would have "devastating" consequences for US security.
An Italian journalist kidnapped in Afghanistan was handed over to Italian officials on Monday after two weeks in captivity and days after his driver was executed. Taliban military commander Mullah Dadullah and the Italian Foreign Ministry said Karachi-bor
Hamas, in its first rift with Fatah since forming a Palestinian unity government, accused President Mahmoud Abbas on Monday of acting illegally by naming one of the Islamist group's foes as national security adviser.
US envoy Christopher Hill said on Monday talks on scrapping North Korea's nuclear weapons programme had overcome an impasse over frozen bank accounts and now needed to map out steps towards disarmament.
Israel is not engaged in substantial peace talks with the Palestinians, although it will continue to discuss humanitarian and security issues, the government spokeswoman said on Monday.
The armed wing of Hamas said it carried out its first attacks against Israel since a shaky November truce in the Gaza Strip, shooting a utility worker on Monday near the border and firing two mortar bombs at soldiers.
A speedy Bangladesh trial court formally recorded charges for extortion on Monday against Tareque Rahman, detained son of former prime minister Begum Khaleda Zia. "Speedy trial court judge Abdur Rouf Khan took cognisance of the case as a police officer re
Wallid bin Attash, a captured al Qaeda operative, has confessed that he was the mastermind of the October 2000 bombing of the USS Cole in Yemen, according to a transcript of a military hearing released Monday.
The yen hit a 2-1/2 week low against the euro on Monday and fell versus the dollar, giving up gains made after China's interest rate hike, as rebounding stock markets gave investors more confidence in taking on risk.
The iTraxx Crossover index tightened on Monday, ahead of Tuesday's roll to a new maturity, traders said, with sentiment buoyed by stronger stocks. The iTraxx indexes move to the new series 7 six-month contracts, with the Crossover expanding from 45 to 50
The iTraxx Crossover index tightened on Monday, ahead of Tuesday's roll to a new maturity, traders said, with sentiment buoyed by stronger stocks. The iTraxx indexes move to the new series 7 six-month contracts, with the Crossover expanding from 45 to 50
US stocks rose sharply on Monday on a steady flow of merger-and-acquisition chatter, including talk that Britain's Barclays Plc was eyeing Dutch bank ABN AMRO, overshadowing the recent turmoil in the subprime mortgage market.
Britain's FTSE 100 index of leading shares closed up nearly 1 percent on Monday, as banks and M&A activity helped the market to continue to bounce back from a recent slump.
Cotton futures finished mixed Monday in dreary business and the market may stay in a band until release of next week's potential plantings report by the government, brokers said.
Copper prices recovered at the close, with the market focusing on strong demand instead of the Chinese interest rate rise, while tin hit a new record high. Copper for three-month delivery ended at $6,640 a tonne on the London Metal Exchange, up from $6,61
US gasoline futures struck a seven-month high on Monday amid worries over falling stockpiles and slow fuel production in the world's biggest energy consumer. The rally pushed benchmark crude oil prices moderately higher as dealers shifted their focus from
London sugar futures settled mixed on Monday on trade buying against producer, trade and speculative selling after a choppy session marked by brisk spread activity, dealers said. May finished up 50 cents at $345.20 per tonne in firm volume of 4,014 lots a
Gold rose to its highest level in more than a week on Monday, driven by speculative buying and a return of investor confidence after the recent sell-off. Silver and platinum hit two-week peaks, while palladium prices climbed to their highest level since M
The Balochistan Assembly on Monday recommended regularising 1,500 employees appointed in agriculture department on ad hoc basis. The resolution was moved by the provincial minister for Agriculture and Co-operatives Maulana Faizullah and was endorsed by th
TCS express courier service provider has started the operations of its modern customer services and support contact centre. ZRG International, the nation's market leader in open standards based CTI technologies, has provided multi-media enabled contact ce
A "Media Cell" has been established here, in the DCO Office, under the instructions of the Government for facilitating the mediamen with regard to verification of some information or official version regarding some important happening/occurrence etc.
Ufone fully supports mobile number portability (MNP) which would ensure enhanced cellular services and bring healthy competition in the booming telecom sector.
Senate Chairman Mohammedmian Soomro has condoled with Aitzaz Ahsan, former Minister for Interior over the sad demise of his father-in-law. In a message of condolence on Monday, Mohammedmian Soomro prayed to Almighty God to bless the departed soul in etern
Minister for Information and Broadcasting, Senator Muhammad Ali Durrani said on Monday that promotion of tolerance in society is dire need of the hour to move towards real democratic culture.
I reached a CNG filling station situated in Block-7, Gulshan-e-Iqbal, Karachi (opposite Safari Park) at around 08:00 am on March 13, 2007. After getting the car filled up the cashier demanded a full amount of Rs 179 whereas the meter had shown little over
I fully endorse the salient features, its projection and true picturisation on the above subject by Hasan Adil Malik published in Business Recorder. As a resident of Gulistan-e-Jouhar and aggrieved by the pinching inconveniences being caused by the
Aziz government's swift moves to arrest the unbridled hike in the prices of some essential items, including cement, sugar and LPG, have proved one thing at least that the top leaders have somehow managed to strike a balance between the government and priv
Former European Commission president Jacques Delors' 1992 drive to create a single European market where goods, services and people could move freely across national borders thrust the European Union onto the global stage, waking up US and Asian policymak
About two thirds of the WTO's around 150 members are developing countries. They play an increasingly important and active role in the WTO because of their numbers, because they are becoming more important in the global economy, and because they increasing
The crushing defeat in the World Cup that jolted the country was perhaps too hard a blow for Bob Woolmer to survive, who, being at the fag end of his career, had been expecting a victory by the former champions as a farewell salute to their coach. "I have
Keen as both Pakistan and Uzbekistan happen to be on enhancing economic co-operation, it is heartening to note that the talks held in Tashkent between Prime Minister Shaukat Aziz and his Uzbek counterpart, Shavkat Mirziyayev, were marked with agreement on
The government has effected a bewildering shift in its stance about the functional position of Mr. Justice Iftikhar Mohammad Chaudhry. It now says that he is on "compulsory" leave; thereby necessitating appointment of Mr. Justice Javed Iqbal as the acting
Keeping in view the performance of the Ufone and the goals it has set to achieve, the year 2007 will be celebrated as the 'winning year'. While giving the details of plans for 2007, Ufone President and CEO Mubashir Naqvi at a press conference here on Mond
Currently, IT occupations are experiencing a serious shortage as demand for skilled workers has been rising faster than the supply and this problem is developed into a major issue. Khurram H. Kalia, CEO & president KalSoft (Private) Ltd expressed this whi
Emirates Global Islamic Bank Limited, (EGIBL), recently launched in Pakistan with an initial operation of six branches spread across Karachi and Lahore. The bank formally launched it's Lahore DHA branch at an impressive ceremony held at a local club.
International Finance Corporation, a private sector arm of the World Bank Group, in partnership with the Pakistan Institute of Corporate Governance (PICG), organised a one-day workshop on the "Role and Responsibilities of the Board of Directors" for JS AB
The Pakistan People's Party on Monday expressed its deep disappointment over the pathetic performance of Pakistani cricket team. PPP MNA Liaquat Ali Dogar, Begum Nasim Chaudhry, MNA, Dr. Javed Siddiqui MPA, Syed Nazim Hussain Shah MPA said in a statement
Ministry of Population Welfare has included population-related contents in the revised national educational curriculum from class 9 to 12 to create awareness among the students about implications of overpopulation.
The government has provided training to more than 500 professionals under a programme launched to reduce the software piracy rate in the country. The programme which is expected to be completed by 2009, around 30 workshops regarding major open source appl
Chairman Senate, Mohammedmian Soomro has said Pakistan greatly values its friendship with United States as both the countries share common values based on freedom, equality and egalitarianism. In addition to standing for peace the world over. He was talki
Pakistan Islamic Medical Association (Pima) will hold provincial convention on 25th March. This was stated by President Pima, Dr Abu Bakr Shahid while talking to newsmen on Monday. He said that over 1,000 doctors would participate in the convention. Chair
Federal Tax Ombudsman (FTO) Justice(R) Munir A. Sheikh has asked the CBR to decide the case of the complainant in accordance with the provisions of law. This decision was taken by the Federal Tax Ombudsman (FTO) on the complaint of Latif Cotton Mills Limi
The lawyer of an Islamist militant sentenced to be hanged for his role in the 2002 murder of US reporter Daniel Pearl said on Monday that he would use a top al Qaeda militant's confession to support an appeal.
Pakistan's first deep seaport, Gwadar would become functional in a next few days, and would change the fate of the area by transforming its socio-economic landscape. Gwadar Port would generate tremendous opportunities for the people of Balochistan as thou
The Inter-Provincial Coordination Committee (IPCC) would take up various issues in its meeting on March 26 and would decide further to promote harmony among the federating units, said Federal Minister for Inter Provincial Coordination Salim Saifullah Khan
A reputed Malaysian Company, Landesign Group Sendirian, has shown interest in making investment in major projects of mass transit and operating CNG buses in Karachi on BOT basis.
Public Accounts Committee (PAC) of the National Assembly on Monday directed the Ministry of Foreign Affairs to report on 414 missing passports in Manchester Consulate General within two months.
The long awaited Karachi Textile City project is expected to start on March 21. This Textile City project is a first of its kind, which would have a desalination plant, a self-power generation plant and most modern facilities required for industrial produ
President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Tanvir Ahmed Sheikh has appointed Dr Mirza Ikhtiar Baig senior vice chairman of FPCCI standing committee on banking credit and finance for 2007.
Chief Executive Livestock and Dairy Development Board (LDDB) Dr M. Afzal on Monday said that livestock is the 50 percent of our agriculture and the development of this sector would give boost to the rural economy also.
Punjab Chief Minister Chaudhry Pervaiz Elahi on Monday regretted the attitude of the opposition on the prevailing political situation, saying they always looked for an opportunity for their own interests. "Wherever there is a protest, the opposition has m
The launching ceremony of a book titled "Aks-e-Kainaat" written by clinical psychologist Tahira Bilqis on positive thinking in Muslim psychology, was held here on Monday.
Wapda General Manager (Administration), Brigadier Najam-us-Saqib said Wapda was committed to the welfare of its employees and making utmost efforts to provide best medical facilities to them. He was addressing a concluding session of the conference of sen
Punjab Minister for Education, Mian Imran Masood has announced the construction of a new block of Queen Marry College Lahore at a cost of Rs 20 million.
The combined opposition on Monday submitted two adjournment motions with the Senate Secretariat, seeking debate on police attack on a private television channel, newspaper offices and merciless use of force against protesting legal fraternity in the feder
Chairman Central Board of Revenue (CBR), Muhammad Abdullah Yousaf would visit Sarhad Chamber of Commerce and Industry (SCCI) on March 20 and would meet its members to discuss matters of mutual interest, says a press release issued here on Monday.
The Central Development Working Party (CDWP) will consider a Rs 2 billion project submitted by the Ministry of Food, Agriculture and Livestock to develop aquaculture and shrimp farming at coastal areas here on Tuesday.
Prime Minister Shaukat Aziz on Monday said that the government of Pakistan Muslim League (PML) and its coalition partners are united on major policy issues and will participate in the next general election from one platform.
Three students of Department of Computer Science, University of Peshawar have carried out scientific research on different aspects of Hindko language, paving the way for more work.
Punjab Minister for Population Welfare Naseem Lodhi has said that new laws for protection of women have come into force which will help phase out retrogressive rituals that hamper the growth and potential of women.
The city district government Rawalpindi (CDGR) has decided to start the work on Rawalpindi Environment Improvement Project (REIP) in collaboration with the Nazims and Naib Nazims.
"The importance of experienced and knowledgeable economic correspondents is critical in providing both a picture of the present economic progress as well as potential opportunities and challenges which this fast-paced developing economy is faced with.
The Central Development Working Party (CDWP), which is meeting on Tuesday (today), will consider 44 projects with an estimated cost of Rs 109 billion, a senior government official told Business Recorder on Monday.
The Collectorates of Customs, Peshawar and Quetta have started confiscating non-duty paid buses and trucks earlier cleared on payment of 30 percent redemption fine.
Punjab Minister for Food, Syed Hussain Jahania Gardezi has said the government is concentrating on exploiting comparative advantage in exports for earning foreign exchange through diversification of agricultural production into high value crops.
On public complaints, two teams of National Accountability Bureau (NAB) Sindh paid surprise visits to Passport Office Saddar and State Life Insurance Corporation (Slic) Building-2, I I Chundrigar Road and took notice of absentee staff, checked record and
