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Print - 2007-06-06
Bernanke sees US growth picking up

Bernanke sees US growth picking up

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.
Published 06 Jun, 2007 12:00am
ECB justified to raise eurozone rates: IMF

ECB justified to raise eurozone rates: IMF

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.
Published 06 Jun, 2007 12:00am
Eurozone retail sales below estimates

Eurozone retail sales below estimates

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
Published 06 Jun, 2007 12:00am
Brown sets out UK's jobs creation plan

Brown sets out UK's jobs creation plan

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.
Published 06 Jun, 2007 12:00am
EU drops deficit action against Germany

EU drops deficit action against Germany

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
Published 06 Jun, 2007 12:00am
Abraaj approves biggest equity deal of Middle East

Abraaj approves biggest equity deal of Middle East

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
Published 06 Jun, 2007 12:00am
Abraaj approves biggest equity deal of Middle East

Abraaj approves biggest equity deal of Middle East

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
Published 06 Jun, 2007 12:00am
Asian ministers vow to narrow digital divide

Asian ministers vow to narrow digital divide

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
Published 06 Jun, 2007 12:00am
Bangladeshi expatriates' remittances up

Bangladeshi expatriates' remittances up

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
Published 06 Jun, 2007 12:00am
Dutch parliament ends TNT's mail monopoly

Dutch parliament ends TNT's mail monopoly

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
Published 06 Jun, 2007 12:00am
G8 summit critical for WTO talks: Mandelson

G8 summit critical for WTO talks: Mandelson

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
Published 06 Jun, 2007 12:00am
Taiwan stocks at near seven-year peak

Taiwan stocks at near seven-year peak

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.
Published 06 Jun, 2007 12:00am
Chinese shares end firmer

Chinese shares end firmer

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.
Published 06 Jun, 2007 12:00am
Hong Kong shares jump

Hong Kong shares jump

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.
Published 06 Jun, 2007 12:00am
Dow, S&P close at records as energy shares rise

Dow, S&P close at records as energy shares rise

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
Published 06 Jun, 2007 12:00am
US Treasury debt prices surge

US Treasury debt prices surge

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
Published 06 Jun, 2007 12:00am
US Treasury debt prices surge

US Treasury debt prices surge

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
Published 06 Jun, 2007 12:00am
Malaysian shares climb

Malaysian shares climb

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.
Published 06 Jun, 2007 12:00am
Singapore shares drop

Singapore shares drop

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
Published 06 Jun, 2007 12:00am
Thai share prices end 1.30 percent lower

Thai share prices end 1.30 percent lower

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
Published 06 Jun, 2007 12:00am
Nikkei surges

Nikkei surges

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.
Published 06 Jun, 2007 12:00am
New Zealand shares up

New Zealand shares up

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
Published 06 Jun, 2007 12:00am
Indian shares rally

Indian shares rally

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
Published 06 Jun, 2007 12:00am
Jakarta shares decline

Jakarta shares decline

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
Published 06 Jun, 2007 12:00am
Swiss franc strengthens

Swiss franc strengthens

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.
Published 06 Jun, 2007 12:00am
Yuan rises to record close

Yuan rises to record close

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
Published 06 Jun, 2007 12:00am
Dollar steadies

Dollar steadies

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.
Published 06 Jun, 2007 12:00am
Dollar slips

Dollar slips

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.
Published 06 Jun, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

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.
Published 06 Jun, 2007 12:00am
Asian currencies: peso down on profit-taking

Asian currencies: peso down on profit-taking

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
Published 06 Jun, 2007 12:00am
Hong Kong dollar drifts lower

Hong Kong dollar drifts lower

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.
Published 06 Jun, 2007 12:00am
Apollo Sports win

Apollo Sports win

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.
Published 06 Jun, 2007 12:00am
Olympic Games qualifier: Pakistan set to face Qatar

Olympic Games qualifier: Pakistan set to face Qatar

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.
Published 06 Jun, 2007 12:00am
Federer reaches semi-finals

Federer reaches semi-finals

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.
Published 06 Jun, 2007 12:00am
England's 'Barmy Army' boosts Australian economy

England's 'Barmy Army' boosts Australian economy

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
Published 06 Jun, 2007 12:00am
Jankovic stops Vaidisova

Jankovic stops Vaidisova

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
Published 06 Jun, 2007 12:00am
Hayat as PFF chief praised

Hayat as PFF chief praised

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.
Published 06 Jun, 2007 12:00am
Ford, Emburey short-listed for India coaching job

Ford, Emburey short-listed for India coaching job

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
Published 06 Jun, 2007 12:00am
Henin subdues Serena

Henin subdues Serena

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.
Published 06 Jun, 2007 12:00am
Sharapova makes Paris last four for first time

Sharapova makes Paris last four for first time

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.
Published 06 Jun, 2007 12:00am
Kenyan police kill 21 in gang crackdown

Kenyan police kill 21 in gang crackdown

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.
Published 06 Jun, 2007 12:00am
Bangladesh prison grapples with political VIPs

Bangladesh prison grapples with political VIPs

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.
Published 06 Jun, 2007 12:00am
Sri Lanka jets pound rebels as Japanese peace envoy flies in

Sri Lanka jets pound rebels as Japanese peace envoy flies in

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.
Published 06 Jun, 2007 12:00am
White House disagrees with Guantanamo trial ruling

White House disagrees with Guantanamo trial ruling

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.
Published 06 Jun, 2007 12:00am
Ukraine leader calls election, adversaries doubtful

Ukraine leader calls election, adversaries doubtful

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.
Published 06 Jun, 2007 12:00am
Bangladesh court takes up murder case against Khaleda

Bangladesh court takes up murder case against Khaleda

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.
Published 06 Jun, 2007 12:00am
Taliban boat sinks in Afghanistan: 30 killed

Taliban boat sinks in Afghanistan: 30 killed

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.
Published 06 Jun, 2007 12:00am
Former CIA-backed warlord arrested in US

Former CIA-backed warlord arrested in US

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.
Published 06 Jun, 2007 12:00am
Lebanese army resumes shelling

Lebanese army resumes shelling

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.
Published 06 Jun, 2007 12:00am
Former Cheney aide sentenced to 30 months

Former Cheney aide sentenced to 30 months

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.
Published 06 Jun, 2007 12:00am
Bush bashes Putin on democracy on eve of G8 summit

Bush bashes Putin on democracy on eve of G8 summit

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.
Published 06 Jun, 2007 12:00am
ETA ending ceasefire

ETA ending ceasefire

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".
Published 06 Jun, 2007 12:00am
Putin donates month's salary to Jewish museum

Putin donates month's salary to Jewish museum

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
Published 06 Jun, 2007 12:00am
Chad rebuffs French idea

Chad rebuffs French idea

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.
Published 06 Jun, 2007 12:00am
Iran warns against new sanctions; talks to Germany

Iran warns against new sanctions; talks to Germany

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.
Published 06 Jun, 2007 12:00am
Forty years on, Palestinians recall Israeli victory

Forty years on, Palestinians recall Israeli victory

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
Published 06 Jun, 2007 12:00am
Three Afghans beheaded in Saudia Arabia

Three Afghans beheaded in Saudia Arabia

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.
Published 06 Jun, 2007 12:00am
Car bomb near Falluja kills 19

Car bomb near Falluja kills 19

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
Published 06 Jun, 2007 12:00am
100,000 Afghans returned from Iran: UN

100,000 Afghans returned from Iran: UN

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
Published 06 Jun, 2007 12:00am
Indian rupee a touch higher

Indian rupee a touch higher

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.
Published 06 Jun, 2007 12:00am
Sterling hits peaks versus yen

Sterling hits peaks versus yen

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
Published 06 Jun, 2007 12:00am
Yen plumbs fresh lows

Yen plumbs fresh lows

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.
Published 06 Jun, 2007 12:00am
US Stocks: Tuesday's mid-afternoon trade

US Stocks: Tuesday's mid-afternoon trade

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.
Published 06 Jun, 2007 12:00am
Bonds: Telecoms edge tighter

Bonds: Telecoms edge tighter

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
Published 06 Jun, 2007 12:00am
Bonds: Telecoms edge tighter

Bonds: Telecoms edge tighter

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
Published 06 Jun, 2007 12:00am
Philippines shares fall

Philippines shares fall

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
Published 06 Jun, 2007 12:00am
Seoul shares hit record

Seoul shares hit record

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.
Published 06 Jun, 2007 12:00am
FTSE ends down on fears of US inflation

FTSE ends down on fears of US inflation

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.
Published 06 Jun, 2007 12:00am
Buffer hike may ease India's sugar woes slightly

Buffer hike may ease India's sugar woes slightly

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
Published 06 Jun, 2007 12:00am
Rough ride seen for US sugar reform in Congress

Rough ride seen for US sugar reform in Congress

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?"
Published 06 Jun, 2007 12:00am
Oil firms above $70 a barrel

Oil firms above $70 a barrel

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
Published 06 Jun, 2007 12:00am
Whole Foods supersizes in London

Whole Foods supersizes in London

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
Published 06 Jun, 2007 12:00am
New York cotton settles at two-month high

New York cotton settles at two-month high

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
Published 06 Jun, 2007 12:00am
China plans new rules on soya and soyameal imports

China plans new rules on soya and soyameal imports

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.
Published 06 Jun, 2007 12:00am
Nickel dips, lead declines

Nickel dips, lead declines

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
Published 06 Jun, 2007 12:00am
European gold steadies after three-week highs

European gold steadies after three-week highs

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
Published 06 Jun, 2007 12:00am
US MIDDAY: corn higher

US MIDDAY: corn higher

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.
Published 06 Jun, 2007 12:00am
US MIDDAY: wheat climbs

US MIDDAY: wheat climbs

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
Published 06 Jun, 2007 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

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.
Published 06 Jun, 2007 12:00am
US MIDDAY: copper futures down

US MIDDAY: copper futures down

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
Published 06 Jun, 2007 12:00am
US MIDDAY: gold futures inch up

US MIDDAY: gold futures inch up

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.
Published 06 Jun, 2007 12:00am
CPJ condemns fresh curbs on media

CPJ condemns fresh curbs on media

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
Published 06 Jun, 2007 12:00am
Measures taken to improve radio programmes in AJK

Measures taken to improve radio programmes in AJK

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.
Published 06 Jun, 2007 12:00am
Information Director's murder condemned

Information Director's murder condemned

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.
Published 06 Jun, 2007 12:00am
Is all this kosher?

Is all this kosher?

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
Published 06 Jun, 2007 12:00am
SBP must take action against banks

SBP must take action against banks

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
Published 06 Jun, 2007 12:00am
Baghdad barriers a mixed blessing for merchants

Baghdad barriers a mixed blessing for merchants

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.
Published 06 Jun, 2007 12:00am
GOOD MORNING: a 'frightening' marine scene

GOOD MORNING: a 'frightening' marine scene

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.
Published 06 Jun, 2007 12:00am
Needed mega environment projects-I

Needed mega environment projects-I

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.
Published 06 Jun, 2007 12:00am
Mounting water scarcity

Mounting water scarcity

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
Published 06 Jun, 2007 12:00am
Grand Afghan Jirga

Grand Afghan Jirga

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.
Published 06 Jun, 2007 12:00am
Journalists, officials condemn Mehdi's murder

Journalists, officials condemn Mehdi's murder

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.
Published 06 Jun, 2007 12:00am
Kharal condemns curbs on media

Kharal condemns curbs on media

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
Published 06 Jun, 2007 12:00am
Technical institutions to be opened in provinces

Technical institutions to be opened in provinces

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).
Published 06 Jun, 2007 12:00am
Zakat stipends approved for seminary students

Zakat stipends approved for seminary students

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
Published 06 Jun, 2007 12:00am
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