US Federal Reserve chairman Ben Bernanke said Tuesday the world's biggest economy was likely to improve to a "moderate" pace in future months following a pronounced slowdown at the start of the year.
The European Central Bank would be right to raise interest rates due to robust economic growth but need not increase them by more than financial markets expect, the International Monetary Fund said on Tuesday.
Retail sales in the eurozone rose less than expected in April, data from the EU statistics office showed on Tuesday, but analysts still see robust economic growth prompting rate rises by the European Central Bank. Eurostat said retail sales in the 13 coun
Britain's next prime minister Gordon Brown set out plans on Tuesday to get up to 200,000 benefit claimants back to work, brushing aside union anger on public sector pay and tax breaks for buy-out firms.
Germany on Tuesday completed its conversion back to budget orthodoxy after its partners in the European Union absolved Berlin of flouting EU overspending rules in the past. EU finance ministers, meeting in Luxembourg, dropped disciplinary action against G
Abraaj Capital finalised the largest private equity acquisition in the history of the Middle East and North Africa, said a press release issued on Sunday. This transaction related to Abraaj Capital's $1.41 billion leveraged buyout (LBO) acquisition of 100
Abraaj Capital finalised the largest private equity acquisition in the history of the Middle East and North Africa, said a press release issued on Sunday. This transaction related to Abraaj Capital's $1.41 billion leveraged buyout (LBO) acquisition of 100
Thirty Asian and Middle Eastern nations agreed Tuesday to try to bridge the IT divide between rich and poor countries through shared expertise and joint research projects. Ministers also pressed North Korea to make an early start on scrapping its nuclear
Bangladeshis working overseas sent home $559.45 million in May, up nearly 15 percent from a year earlier and 2.9 percent from April, central bank officials said on Tuesday. Remittances totalled $5.46 billion in the first 11 months of the 2006/07 fiscal ye
The Dutch parliament passed a law on Tuesday ending mail company TNT's monopoly on delivering letters accounting for around half the Netherlands' 2 billion euros ($2.7 billion) postal market. The decision clears the way for the complete deregulation of th
World leaders attending a summit this week must accept compromises to prevent years of further delay to a global trade deal, EU Trade Commissioner Peter Mandelson said on Tuesday. The Group of Eight (G8) summit in Germany is critical for the outcome of th
Taiwan stocks ended up 0.11 percent on Tuesday at their highest close in nearly seven years, shrugging off a drop in Chinese shares, as the island's top electronics parts maker Hon Hai Precision posted solid gains.
China's main stock index plunged more than 7 percent on Tuesday before rebounding to close 2.6 percent higher, boosted by rumours that the government would soon issue a policy statement designed to restore investor confidence.
Hong Kong stocks swung to a 0.5 percent gain on Tuesday after mainland equities reversed sharp losses and oil shares climbed on rising crude prices, with CNOOC Ltd hitting a fresh record.
US stocks rose on Monday, with the Dow and the S&P 500 eking out closing records, as higher energy shares and a fresh round of take-overs offset concerns about a sharp sell-off in Chinese stocks. Wal-Mart Stores Inc rose 3.5 percent, boosting the Dow and
US Treasury debt prices rose on Monday as bargain-hunting emerged after weeks of heavy selling amid signs of renewed growth and fading prospects for the Federal Reserve to trim interest rates this year. The market clung to modest gains despite a late reco
US Treasury debt prices rose on Monday as bargain-hunting emerged after weeks of heavy selling amid signs of renewed growth and fading prospects for the Federal Reserve to trim interest rates this year. The market clung to modest gains despite a late reco
Malaysian share prices closed 0.69 percent higher on Tuesday on late institutional support after China's stock markets rebounded from their steep falls, dealers said.
Singapore share prices closed 0.18 percent lower on Tuesday as profit-taking erased earlier gains that had lifted the benchmark index to a new all-time high, dealers said. The Straits Times Index (STI) closed down 6.45 points at 3,572.90 after touching a
Thai share prices closed 1.30 percent lower on Tuesday on profit-taking in the banking and energy sectors after hitting a fresh one-year high, dealers said. They said sentiment was downbeat due to an uncertain political outlook following last week's court
The Nikkei average rose 0.45 percent on Tuesday to close above the psychologically important 18,000 for the first time in three months as Tokyo got support from energy stocks such as INPEX Holdings Inc after oil prices topped $70 a barrel.
New Zealand share prices closed 0.36 percent higher on Tuesday, with defensive stocks leading the way amid concerns about the strong local currency and high interest rates, dealers said. The market shrugged off sharp falls in Chinese shares and gained gro
Indian share prices rose 0.27 percent on Tuesday, making modest gains on buying in mid- and small-cap stocks, dealers said. They said buying emerged on strong regional market gains, as banking and software stocks rose. The 30-share Sensex rose 39.24 point
Indonesian share prices closed down 0.88 percent on Tuesday on late profit-taking as investors chose to cash in gains amid a lack of fresh positive leads, dealers said. The Jakarta Stock Exchange composite index closed down 18.642 points at 2,093.110, off
The Swiss franc gained ground versus the dollar on Tuesday and the euro after the IMF warned of the danger of an abrupt appreciation of the Swiss currency if carry trades unravel.
China's yuan set a record closing high against the dollar on Tuesday, taking advantage of the US currency's slide against the euro, dealers said. They also said the yuan would likely extend its upward momentum later this week after hovering near 7.6450 to
The dollar was little changed on Tuesday after sliding in the previous session, and hovered within range of a 4 1/2-year high against the yen as investors continued to dump the yen for currencies with higher yields.
The dollar weakened across the board on Monday, failing to sustain last week's gains as investors saw few prospects for a US rate hike, while the euro and other currencies linked to rising interest rates strengthened.
Interbank buy/sell rates for the taka against the dollar on Tuesday. 69.00/69.06 (previous 69.01/69.05). Call Money Rates: 6.90-10.00 percent (previous 6.65-10.00 percent.
The Philippine peso retreated on profit-taking on Tuesday while the Malaysian ringgit hit a one-month low as investors bought dollars to cover their short positions, but Asian currencies were mostly steady. The high-yielding peso fell about half a percent
The Hong Kong dollar drifted lower on Tuesday, weighed down by arbitrage buying of the US currency. The domestic currency was trading at 7.8072/73 to the US dollar, softer than 7.8052/54 in late Asian trade on Monday, after shuffling between 7.8050 and 7.
Middle-order batsman Waqas Tariq hit brilliant century, as Apollo Sports outplayed Prince Cricket Club by 95 runs in a cricket match, here at Railway Allama Iqbal Institute Ground (formerly Carson Ground) on Tuesday.
All is set for the eighth clash in soccer arena between Pakistan and Qatar in the second leg of Group-A of the 29th Olympic Games qualifier (second round) being played at Al-Gharrafa's stadium on Wednesday, 6th June.
Roger Federer's 36-set record winning streak in grand slam tournaments was snapped by Tommy Robredo on Tuesday but that did not stop the Swiss from sweeping into the French Open semi-finals with a 7-5 1-6 6-1 6-2 victory.
England's "Barmy Army" of travelling cricket fans helped boost the Australian economy by $265 million during the Ashes and one-day series, Cricket Australia (CA) said on Tuesday. An Economic Impact Study released by CA and the Australian government found
Jelena Jankovic stopped the French Open run of Czech teenager Nicole Vaidisova by beating her 6-3 7-5 to reach the semi-finals on Tuesday. Serbia's Jankovic, seeded fourth, showed signs of nerves at times but relied on her ferocious backhand and tremendou
Pakistan National Women team Coach Tariq Lutfi has called the four-year (2003-07) reign of PFF President Faisal Saleh Hayat as the best ever he had seen since his induction in PIA as player in '70s.
England's John Emburey joined Graham Ford of South Africa as the two leading contenders in the race for India's next cricket coach, it was announced on Tuesday. Emburey, 54, the former England off-spinner and currently director of cricket at Middlesex, wa
Justine Henin did not let memories of an acrimonious clash with Serena Williams four years ago distract her from gliding into the semi-finals of the French Open with a sublime 6-4 6-3 victory on Tuesday.
World number two Maria Sharapova advanced to the semi-finals of the French Open for the first time by brushing aside fellow 20-year-old Russian Anna Chakvetadze 6-3 6-4 on Tuesday.
Kenyan police killed 21 people during a crackdown on Kenya's Mungiki criminal gang after its members killed two officers, a police spokesman said on Tuesday.
Authorities in Bangladesh's central jail in Dhaka said they were struggling to find room, safety - and some special consideration - for streams of top politicians and other VIPs detained in an army-led anti-corruption drive.
Sri Lankan fighter jets bombed a Tamil Tiger training camp in the rebel-held north on Tuesday, the military said, as Japan's peace envoy began a visit seeking ways to arrest an escalation in the two-decade civil war.
The White House on Tuesday said it disagreed with rulings by US military judges to drop all war crimes charges against two Guantanamo prisoners facing trial, and that the Defence Department was considering whether to appeal.
President Viktor Yushchenko formally called a September election on Tuesday under a deal struck with his rival to end Ukraine's political crisis, but his adversaries cast doubt on the legal grounds for the poll.
A Bangladesh court ordered police on Tuesday to investigate charges of murder against former prime minister Begum Khaleda Zia and 27 others for involvement in a deadly grenade attack in 2004 on an opposition rally, court officials said.
More than 30 Taliban militants drowned when a boat sank in southern Afghanistan, the defence ministry said Tuesday, as the coalition force said two dozen more were killed elsewhere.
General Vang Pao, arrested in the United States on charges of plotting a coup in communist Laos, once commanded a CIA-backed "secret army" of hilltribe fighters and mercenaries during the Vietnam war.
Lebanese troops resumed their shelling of a Palestinian refugee camp on Tuesday, trying to force the surrender of al Qaeda-inspired militants entrenched amid thousands of civilians.
A former top aide to Vice President Dick Cheney was sentenced on Tuesday to 30 months in prison for lying and obstructing a probe related to the Bush administration's handling of the Iraq war.
US President George W. Bush criticised Russia on democracy on Tuesday but sought to calm President Vladimir Putin's anger over US missile shield plans on the eve of a G8 summit in Germany.
Armed Basque separatist group ETA said on Tuesday it will end its 15-month-old ceasefire at midnight and warned the Spanish government of new attacks "on all fronts".
Russian President Vladimir Putin promised on Tuesday to contribute one month's salary to the construction of a Jewish museum of tolerance. Russia's chief rabbi, Berl Lazar, told Putin it was time to implement long-delayed plans by the Jewish community to
Chad rebuffed a proposal by France on Thursday to set up a humanitarian corridor through its territory to channel aid to victims of violence in Sudan's Darfur, saying it did not see the need for such a strategy.
Iran warned the UN Security Council on Tuesday against imposing more sanctions over its nuclear work, saying it was like "playing with a lion's tail" as its top negotiator met Germany's foreign minister.
Marking 40 years of Israeli occupation, President Mahmoud Abbas said on Tuesday internal fighting had brought Palestinians to the brink of civil war. Yet Abbas, recalling what he described as the Arabs' "great defeat" by Israel in six days of war that beg
A South African court on Tuesday granted the state permission to obtain documents from Mauritius which could implicate ex-Deputy President Jacob Zuma in a new corruption case.
Three Afghans convicted of drug trafficking were beheaded in Saudi Arabia on Tuesday, the interior ministry announced, adding to a total already more than double the number of executions in 2006.
A car bomb exploded in a market just outside Iraq's western city of Falluja on Tuesday, killing 19 people and wounding 25, police said. No other details were immediately available. Falluja, 50 km (35 miles) west of Baghdad, is in Anbar province, a strongh
Iran has expelled about 100,000 Afghans in nearly six weeks in a drive to deport those who are in the country illegally, the UN refugee agency in Afghanistan said Tuesday. About 1,000 were now returning every day through two border points, the UNHCR's rep
The Indian rupee was stuck in a narrow band on Tuesday, with dealers wary about pushing it past 40.50 per dollar for fear of triggering intervention by the central bank, which has been suspected of defending that level.
Sterling hit a near 15-year peak versus the yen and edged back up closer to the $2 mark on Tuesday, drawing support from a view that UK interest rates are set to rise further. Investors expect UK rates to rise to 5.75 percent in coming months and as high
The yen fell to record lows versus the euro and multi-year lows against high-yielding currencies on Tuesday as investors continued to shun the Japanese unit in favour of higher-yielding currencies.
US stocks fell on Tuesday after signs of strength in the services sector and comments from Federal Reserve Chairman Ben Bernanke diminished expectations of an interest rate cut, with surging bond yields adding to concerns.
The cost of default protection on European telecommunications firms edged lower on Tuesday amid subdued trading as investors looked for a spark that might move spreads out of their recent range. The iTraxx Crossover index was marooned on 189.5 basis point
The cost of default protection on European telecommunications firms edged lower on Tuesday amid subdued trading as investors looked for a spark that might move spreads out of their recent range. The iTraxx Crossover index was marooned on 189.5 basis point
Philippines share prices closed 0.40 percent lower on Tuesday as profit-taking took hold after a three-day rally that took the market to record highs, dealers said. Investors were also keeping an eye on China's stock markets, where sentiment remained shak
Seoul shares edged up on Tuesday to their seventh consecutive record close0 as recently beleaguered exporters such as Hyundai Motor continued to climb on growing optimism about their earnings outlooks.
Britain's top share index shed earlier gains to end down 0.5 percent on Tuesday, after Federal Reserve Chairman Ben Bernanke's comments that US inflation was not about to subside, deflating hopes of an interest rate cut.
India's plans to more than double its sugar buffer stock would ease the worries of firms burdened with huge stocks, but were unlikely to offer much support to prices, a top industry official said on Tuesday. The government was considering a plan to raise
A spate of competing plans to reform US sugar supports may well founder in coming months as they meet staunch opposition in Congress head-on, analysts and the US sugar industry said on Monday. "Where's the pressure coming from to change US sugar policy?"
Oil prices firmed above $70 a barrel on Tuesday as a powerful cyclone hit Oman and briefly disrupted exports from the Mideast energy producer, but the gains were limited by rising stockpiles in the United States. The storm, the worst to hit Oman in 30 yea
Whole Foods Market Inc, the world's largest organic and natural foods chain, opens its first store outside North America in London on Wednesday and plans hundreds more in Britain and across Europe. Britain's largest supermarket at 80,000 square feet, the
Cotton futures finished on Tuesday at a two-month high due to commercial and speculative buying, with brokers saying the momentum from the rally could shove fibre contracts up further this week. New York Board of Trade's open-outcry July cotton contract r
China, the world's top soya importer, plans to introduce a new reporting regulation on imports of the oilseed in a bid to make the trade more transparent and avoid large swings in inflows of the commodity.
London Metal Exchange lead fell on Tuesday after a partial force majeure was lifted in Britain and nickel prices came under pressure as inventories rose, analysts said. London Metal Exchange nickel was down by 3.3 percent or $1,600 to $46,200 per tonne at
Gold gave up gains in late trade on Tuesday after hitting a fresh three-week high as continued gold selling by European central banks dampened buying. A decline in the dollar after comments by the US Federal Reserve chairman on economic growth failed to g
Corn futures at the Chicago Board of Trade were higher early on Tuesday following a surge in the soy complex and on renewed weather worries, traders said.
Soft red winter wheat futures on the Chicago Board of Trade climbed to across-the-board contract highs by midsession on Tuesday, buoyed by world wheat production issues and a soaring soyaoil market, traders said. CBOT soyaoil posted a 23-year high amid su
Soyabean futures at the Chicago Board of Trade soared Tuesday on the back of the soyaoil market that climbed to a 23-year high - mimicking the strength of the Asian oils markets, traders said.
US copper futures dipped more than 1 percent in early business on Tuesday as the market paused from its recent bout of strength, allowing participants to lock in some profits, traders said. "We had such a good day yesterday, and we opened up today and too
US gold futures gyrated and edged up early on Tuesday, whipsawed by a lower dollar and profit-taking following strong gains last week, but larger-than-usual gold sales by central banks could dent sentiment in the short run, analysts said.
The Committee to Protect Journalists is alarmed by a presidential ordinance enacted on Monday that gives the Pakistan Electronic Media Regulation Authority (Pemra) the power to halt broadcasters' transmissions, close offices, seize equipment, and revoke l
Station Director Azad Kashmir Radio Mirpur Aftab Mahmood said here on Tuesday that necessary steps were being taken to make and improve the radio programmes more better harmonious to the need of the modern age.
NWFP Minister for Information Asif Iqbal Daudzai has strongly condemned the killing of Director Information NWFP, Syed Mehdi Hussain and termed it as cruel and coward act on the part of those involved in the crime.
If "insider trading" is a serious crime in USA, Canada and rest of developed world, why is it accepted as a privilege of elite in Pakistan. The recent probe by FBI into the involvement of Pakistani bankers in this white collarr, was headline news in this
State Bank Governor Dr Shamshad Akhter always stresses on the banks to pay more profit to account holders. But all her efforts seem to be in vain. Even now, in her interview with one TV channel, she said same with this strong warning that she is going to
Tall concrete blast walls surrounding hotels and government buildings have long been a feature of Baghdad's war-torn urban landscape, but now these tombstones are swallowing up the city's historic markets to the chagrin of merchants.
There are such individuals in Pakistani society who have demonstrated an amazing, inspiring and dogged commitment to their professional interests and passionate causes -- for reasons that reflect the larger societal goals that they have pursued.
Our entire economic framework rests on environmental well-being. For long treated as an "externality," environmental problems result in costs, breaking down the free market model, eating away our national income and retarding true growth.
Pakistan is fast emerging as one of the top water scarce countries in the world, largely because of its two percent annual population growth rate, which is much higher than the 0.5 percent and around one percent average set for the developed and developin
As expected, the Governments of Pakistan and Afghanistan have decided that tribal elders from the border regions of the two countries will meet in Kabul in the first week of August for the third meeting of the Grand Afghan Jirga.
A joint meeting of the officers of the Department of Information NWFP and local journalists was held at Media Centre of the Directorate. The meeting offered fateha for the departed soul of Syed Mehdi Hussain and strongly condemned his murder.
Former Minister for Information and Secretary General PPP Federal Council Khalid Ahmad Kharal here on Tuesday strongly condemned the government's action to make amendments in the Pemra Ordinance to put more restrictions on TV channels to halt media indepe
President Pervez Musharraf is paying full attention to promote technical and vocational education in the country and recently he has promulgated an ordinance for the establishment of National Vocational and Technical Education Commission (Navtec).
Federal Tax Ombudsman (FTO), former Justice Munir A Sheikh has directed Central Board of Revenue (CBR) to process the case of refund of balance sale proceeds of an importer.
Provincial Zakat Council has approved a grant of Rs 5.8 million as stipends for 1882 students studying at 12 seminaries of Sahiwal, Nankana, Khushab, Gujranwala and Kasur districts. This was told by the Chairman Provincial Zakat Council, Justice Muhammad