The dollar rebounded modestly against the euro on Thursday but remained near a record low as markets braced for a US interest rate cut and rose against the yen amid political and economic uncertainty in Japan.
The yuan closed lower against the dollar on Friday but is set to rise moderately next week after the central bank announced an interest rate hike following the market's close, dealers said. The central bank ordered an increase of 0.27 percentage point in
The Philippine peso and Indonesian rupiah gained against a broadly weaker dollar on Friday, but other Asian currencies were steady as investors waited for an expected Federal Reserve rate cut next week. The high-yielding peso faced resistance after hittin
The Taiwan dollar weakened slightly on Friday in thin trade as caution crept into the market ahead of key interest rate meetings next week in the United States and Taiwan. The Taiwan dollar closed at T$33.071 to the US dollar, weaker than the previous clo
The dollar held just above a 15-year low against a basket of currencies on Friday as investors awaited data on US retail sales for clues on whether the housing market troubles are hurting the economy further.
The Australian dollar crept up to around 84 US cents on Friday ahead of US retail sales data for August, which will be eyed for pointers on how much impact problems in credit markets have had on the world's largest economy.
Prolific middle-order batsman Rahul Dravid has stepped down as India captain just a month after leading his team to a rare Test series victory in England, the country's cricket board said. Dravid, who took over the captaincy from Sourav Ganguly in 2005, s
Chile's Fernando Gonzalez will face big-serving Ivan Ljubicic in the semi-finals at the China Open after the Croatian stunned titleholder Marcos Baghdatis 6-4, 4-6, 7-6 (7/5) on Friday. The fourth-seeded Ljubicic - ranked 12th in the world - beat 2006 Aus
The Pakistan Football Federation (PFF) has approved Bilal Ahmed Butt of Lahore Electric Supply Company (LESCO) as commandant for the training camp in the build-up for the Pakistan U-16 team taking on Syria, Yemen, Oman, Qatar and Central Asian Kyrgyzstan
Australia bounced back from the embarrassment of defeat against Zimbabwe to crush England by eight wickets in a World Twenty20 match at Newlands Friday. Needing a win to advance past the group stage Australia produced an emphatic performance, bowling out
Power-packed Sri Lanka posted the biggest victory in Twenty20 cricket on Friday as they thrashed hapless Kenya by 172 runs in the world championships here. The World Cup finalists earlier this year hit a new Twenty20 record total of 260-6 after being sent
Frightened residents on Indonesia's Sumatra island huddled in tents outside their damaged homes on Friday, traumatised by the latest of more than 40 aftershocks since a huge earthquake struck two days ago.
Voters fed up with Greece's main parties and shocked by devastating forest fires may decide whether a gamble by Prime Minister Costas Karamanlis pays off in Sunday's parliamentary election. Conservative Karamanlis, who swept to power in 2004, called the e
Pope Benedict stressed respect for human rights in the first visit to the Vatican by Sudanese President Omar Hassan al-Bashir, who promised to observe a ceasefire in Darfur after peace talks start next month.
Chadian rebels warned on Friday they would fight a European Union peacekeeping force destined for the eastern border region with Darfur if it tried to obstruct their struggle to topple President Idriss Deby.
Myanmar's pro-democracy party on Friday called for dialogue with the ruling military junta after a string of rare protests led to a government crackdown and the arrest of dozens of its members.
The Council of Europe's anti-torture committee sharply criticised on Friday the use of secret detention and so-called "rendition" in the fight against terrorism.
A suicide bomber rammed a truck laden with explosives into two police cars near the northern Iraqi town of Baiji on Friday, killing 10 people, a police source said. The source said five of the dead were policemen.
The race to succeed Japanese Prime Minister Shinzo Abe shaped up on Friday as a fight between 71-year-old lawmaker Yasuo Fukuda, an advocate of warm ties with Asian neighbours, and hawkish former foreign minister Taro Aso.
Somali opposition figures on Friday named a senior Islamist as chairman of a "liberation" alliance vowing war on Ethiopian troops and demanding the exit of Ugandan peacekeepers from the Horn of Africa nation.
Russian President Vladimir Putin said on Friday newly-appointed prime minister Viktor Zubkov might be a contender for next head of state if he performs well in his new job. Putin confounded expectations by naming the virtually-unknown Zubkov, a 65-year-ol
Iran warned on Friday that tightened sanctions over its nuclear activities could undermine its cooperation with the UN atomic watchdog and claimed to have China's support against Washington's calls for added pressure.
President George W. Bush's pledge to bring some troops back from Iraq may buy time, but his strategy is little changed and he left the task of ending the war to the next president, US newspaper editorials said on Friday.
Ex-Soviet Georgia will cut its troops in Iraq to less than a quarter of the current contingent by next June, the defence minister said on Friday. "The Georgian contingent is being reduced to around 300 servicemen from 2,000," Defence Minister David Kezera
A split has emerged in the coalition of Western powers pressuring Iran to freeze its nuclear enrichment programme, as France backs US calls for a new round of sanctions while Germany urges restraint.
Iran's supreme leader Ayatollah Ali Khamenei said on Friday that US President George W. Bush had been defeated in his Middle East plans and would one day stand trial for "atrocities" committed in Iraq.
Iraq is making satisfactory progress on just nine of 18 political and security benchmarks set by the US Congress, the White House said Friday, hours after President George W. Bush announced a partial troop withdrawal.
New genetic tests could help crack down on illegal food or timber trade, fight malaria or even give clues to how to stop bird strikes with planes, scientists said on Friday.
Japan launched its first lunar probe on Friday, nicknamed Kaguya after a fairy-tale princess, in the latest move in a new race with China, India and the United States to explore the moon.
Sterling hit a 14-month low against the euro and fell versus the dollar on Friday, hit by news that a major UK mortgage lender had become a casualty of the credit squeeze sparked by the US subprime woes.
The dollar held near a 15-year low against a basket of currencies on Friday as investors waited for US data to see whether the housing market troubles had taken a toll on consumers.
The Indian rupee was steady on Friday, as capital inflows from foreign investors helped cushion dollar buying by oil refiners and companies, traders said. The partially convertible rupee ended at 40.455/46 per dollar, up from an intraday low of 40.55, but
US stocks were nearly flat on Friday as weak economic data kept intact expectations of an interest rate cut next week, offsetting weakness in the technology sector after a broker downgrade of Intel Corp.
European credit spreads held up well on Friday despite a scare from Northern Rock which was forced to use emergency funding from the Bank of England, ahead of several events next week that will be crucial for market sentiment.
European credit spreads held up well on Friday despite a scare from Northern Rock which was forced to use emergency funding from the Bank of England, ahead of several events next week that will be crucial for market sentiment.
Indian share prices erased intraday gains to close flat on Friday as Europe's weak opening on global credit concerns rattled investors, dealers said. They said the benchmark 30-share Sensex index appeared headed for a new record intraday high, but the sof
Chinese shares rose on Friday, led by airlines on renewed merger speculation, though turnover remained low because of concern about government policy and a heavy IPO schedule. Foreign currency-denominated B shares soared on the view that cheaper valuation
Britain's top share index fell 1.2 percent on Friday after mortgage lender Northern Rock became a casualty of the global credit squeeze, weighing on banks and property-related stocks. The FTSE 100 closed down 74.6 points at 6,289.3, but well off its day's
Indonesia plans to boost output of aromatic and higher value arabica coffee to benefit from high prices, a senior agriculture ministry official said on Friday. High-value and aromatic arabica only accounts for 15 percent of total coffee output from the wo
London robusta coffee futures surged to an almost three-month high on Friday on speculative buying of the November contract prompted partly by concern about short-term supply tightness, dealers said.
Oil fell on Friday after supply concerns and tight inventories pushed prices to a record above $80 a barrel for the third consecutive day. Hurricane risks, falling oil and product stocks in consumer nations and a modest output increase from Opec have fuel
Rwanda's tea production rose by 21 percent to 12.9 million kg in the first seven months of 2007 due to good rains, the Tea Board said on Friday. The tiny central African country recorded 10.7 million kg of tea in the first seven months of 2006.
Copper touched a one-month high on Friday after weaker-than-expected US data pulled down the dollar and supported expectations of a possible rate cut from the US Federal Reserve. Copper for three months delivery on the London Metal Exchange rallied to $7,
Kazakh state nuclear company Kazatomprom, the world's third largest uranium producer, will increase output to 18,700 tonnes by 2010, President Moukhtar Dzhakishev said on Friday. "Then, by 2015, we are planning to increase annual uranium production up to
Gold bounced back to hit a 16-month high in late business on Friday as the dollar fell to near record lows versus the euro after the release of US data. It has jumped $75 or 12 percent in a month after sinking to a 7-week low of $641.10 in mid-August, whe
Wheat futures on the Chicago Board of Trade were lower early on Friday on continued profit-taking and long liquidation after the surge to all-time highs above $9 earlier this week, traders said. As of 9:35 am CDT (1435 GMT), CBOT December wheat was down 6
Corn futures at the Chicago Board of Trade were called to open 1 to 2 cents higher on Friday in a recovery from Thursday's slump. Futures are expected to be supported by gains in CBOT soybeans and brisk export demand but the advancing harvest and talk of
Soyabean futures on the Chicago Board of Trade were called to open 2 to 4 cents per bushel higher on Friday on follow-through momentum from Thursday's firm close. Additional support stemmed from concerns about forecasts for an early frost this weekend in
US copper futures tested the upper end of their range early Friday morning as the dollar slipped after a double dose of softer US economic data raised chances of a Federal Reserve rate cut next week, brokers said.
US gold futures reversed initial losses to trade higher early on Friday, boosted by options-related buying and safe-haven demand amid signs that the global credit squeeze will continue to weigh on markets.
Telenor Pakistan has outperformed its competitors in the first ever bid held to extend its network coverage to 1,283 under-served muzas in Malakand division. The Universal Service Fund (USF) that has been created by the Ministry of Information Technology
Pakistan completed 60 years of independence in 2007 with various developments, including nuclear technology, but Pakistan postal system in this long travel remained backward without any progress on world standard due to the unwilling attitude, ignorance,
It looks like a washing machine on wheels, but the bulky contraption vacuuming the hallways of a Tokyo high-rise is a robot. Japanese researchers hope that robots like this one will be the answer to a pressing question hanging over the country -- how to c
A 7-member Committee appointed by the Indian Union ministry of minority affairs in September 2006 to investigate the cases of financial irregularities and misappropriation of funds in Khwaja Moinuddin Chishti's Dargah at Ajmer and to suggest ways so that
Statistics indicate that well over 70% of the marine accidents relate to human error or omission. The recent accident of M.T. Golden Gate on 14th August 2002 spilling 1800 tons crude in harbour and M.T. Tasman Spirit in August 2003, spilling 30,000 tons o
For the last few years, Islamic financial institutions have been making inroads into the banking industry of Pakistan. Therefore, it was but natural for the State Bank to devise a proper regulatory mechanism for these institutions so that they become an i
If the Musharraf government ever needed American support as a morale booster in these difficult times, then it was not in short supply this Wednesday. Clearly departing from the position taken by the European Union, Commonwealth and the United Kingdom, th
Punjab Auqaf department has made arrangements for Iftaar at all the mosques under its administration across the province, besides stepping up security to provide protection to Namazis.
Doctors of Nishtar Hospital Children Complex Institute of Cardiology and Fatima Jinnah hospital Multan observed complete strike to press the authorities for acceptance of their demands.
The inspector general of prisons NWFP has granted sixty days remission to all convicted prisoners confined in the jails On the eve of Holy Month of Ramazanul Mubarik, subject to usual restrictions and limitations and the policy of the government.
With the advent of holy month of Ramzan on Friday skyrocketing prices of food and other essential items are putting an extra burden on the pockets of the poor consumers. Apple price surged to Rs 80 to 120 per kg, grapes Rs 100, guava Rs 50, Japanese fruit
Products manufactured by the Pakistan defence industries are world class and offer competitive prices without compromising on the quality. "The defence industries are competing with the best in the world and we are duly proud of their achievements."
The Alliance for Protection of Human Rights (APHR), a group of Civil Society Organisations, has condemned the closure of 204 community primary schools for girls in NWFP. In a press release issued here on Friday.
In view of the increasing incidents of suicide bombings the Rawalpindi Police have enhanced security of the mosques and Imambargahs to avoid any untoward incident during Ramazan. Nasir Khan Durrani, the Regional Police Officer (RPO) Rawalpindi has directe
Afghan Transit Trade Group has called for allowing the usage of private trucks for timely transportation of Afghanistan bound goods brought under Afghan Transit Trade (ATT) from Karachi to Amangarh Dryport.
The government of NWFP has decided to review the policy regarding purchase of medicines for public sector health facilities in the province. On the demand of the pharmaceutical manufacturers a special committee was constituted to review 'Medical Coordinat
Pakistan has achieved significant advances in the missile technology due to efforts and dedication of its team of researchers and scientists. This was stated by National Engineering and Science Commission (Nescom) Chairman Dr Mubarik Samarmand, while talk
Zarai Taraqiati Bank Limited (ZTBL) has taken a number of initiatives to boost up agriculture sector and help enhance income source of the farmers. The bank has launched several schemes and programmes to achieve the objective. These projects included "Sai
The Department of Food, NWFP has to release special wheat quota of 34,091 tons to the functional flour mills in the province at the rate of Rs 11.155 per kg with a subsidy of Rs 1,000 in a ton.
The AJK government is taking various steps to boost the business sector including the cottage industries in Azad Jammu Kashmir, official sources said. The sources told APP here on Friday that the government emphasised the need for maximum utilisation of l
A regular master plan has been chalked out for the promotion of tourism industry in Azad Jammu Kashmir. Official sources said to newsmen that the government had allocated Rs 12 million for launching various development projects for the promotion of touris
EFU the largest Insurance group of the country, marked the celebration of 75th years of its existence by holding a Gala Dinner held at a local hotel. A large number of foreign guests, businessmen and personalities of insurance industry attended the functi
The Board of Intermediate and Secondary Education Hyderabad on Friday announced the results of Higher Secondary Certificate Part-II Humanities Group (Regular/ Private) annual examinations 2007.
The University of Karachi (KU) has vehemently condemned the attack on a passenger bus outside one of its main gates on Thursday evening and expressed deep sense of shock and sorrow over the killing of students. The Media Adviser to the Vice Chancellor of
A seminar on "Infrastructure Development and Business Opportunities for German companies in Pakistan" was held in Berlin (Germany) on Friday. According to a message received here from Berlin, Federation of German Industries (BDI) and Embassy of Pakistan j
New Jubilee Life Insurance Company Ltd (NJLI), one of Pakistan's largest Life Assurance Company and Habib Bank Ltd, Pakistan's largest bank have launched two new life insurance products, 'Amaan' and 'Tabeer'. These Plans that have been specially designed
The funeral prayers of two workers of Islami Jamiat Talaba were offered separately at Numaish Chowrangi and in Malir Khokharapar here on Friday, who were killed by firing of unknown assailants on a minibus, Thursday evening.
The Zakat deductions from PLS and other eligible accounts were carried out in all the commercial bank branches in Karachi and other parts of Pakistan, keeping with the Zakat Ordinance which was promulgated in 1980 by the then Military Dictator Ziaul Haq's
District Management Hyderabad under "Price Control and Prevention of Profiteering and Hoarding Act 1977," and "Sindh Essential Commodities Price Control and Prevention of Hoarding Ordinance 2006," has delegated the powers of Special Judicial Magistrate to
The Federal Minister of Communication Muhammad Shamim Siddiqi said that repairing work of Super high way will start very soon and layer would be spread from Loni Kot to Jamshoro. The federal government will help in the construction of Hyderabad to Mirpurk
The law-enforcement agencies have been put on alert in the Federal Capital and strict checking is being conducted at entry and exit points of the city, the official sources said.
Member Central Board of Revenue (CBR) Shaid Rahim Sheikh on Friday assured the members of Islamabad Chamber of Commerce and Industry (ICCI) that under "Customs Administration Reform (CARE) system all the import items will be cleared in 48 hours.
The Federal Board of Revenue (FBR) Chairman, Abdullah Yusuf, has urged the traders community to play their due role towards the economic growth, as their share stood in the national economy stood at 16 percent.
The Monopoly Control Authority (MCA) has ordered scrutiny/audit of agreements of a leading pharmaceutical company, allegedly involved in giving undue benefits to its distributor of medicines, resulting in "undue concentration of economic power" in the pha
The Anti-Corruption Establishment (ACE) in Punjab has arrested Registrar District Officer Enterprise, Rasheed Mehmmod and a clerk Saifullah, for illegally giving a registration certificate to a local firm in back dates after they received a handsome amoun
The faithful thronged city mosques as the first Friday of the holy month of Ramazan was observed with religious fervour in the city of Lahore. Due to extra rush of Namazis, the mosques administration had to adopt extra arrangements.
Punjab University students protested terrorist activities of the Muttahida Qaumi Movement (MQM) in Karachi where five of the former's IJT activists died. IJT Nazim Muhammad Ayub branded the MQM a terrorist organisation turning the city of lights into a wi
Members of Karachi Bar Association (KBA) on Friday went on strike and held general body meeting within city courts premises to protest against murder attack on advocate Attique Qadri. Some un-known persons fired bullets on Qadri in Landhi area of the city
The Punjab University has announced schedule for BSc applied geology practical examinations 2007. The practical exams will be held from October 22-26 at the Institute of Geology, University of the Punjab (New Campus). Paper timings will be 9 am.
The Urdu edition of well-known Persian book 'Tazkerat-ul-Aulia' has been published under the title Zikr-e-Jamil. It was written about 800 years ago by noted religious scholar, Shaith Farid-ud-din Attar. This work carries lives, achievements and sayings of
The holy month of Ramazan, which started on Friday all over the country will have five Fridays this year. The significance of Fridays being the holy day enhances manifold during the holy month of Ramazan when the Muslims seek forgiveness from Almighty All
About 450 private educational institutions in the capital have registered with the Private Educational Institutions Regulatory Authority (Peira) since registration started in May. Peira Chairman Commodore Muhammad Sharif Shamshad (Retd) told APP on Friday
The Women Development Ministry has launched a pilot project of 'District Resource Centres for Women' in collaboration with Local Government, costing Rs 25.262 million. Sources told Business Recorder here on Friday that utilisation in previous fisca
Pakistan Foundry Association will organise 2nd International Foundry Congress and Exhibition (IFCE) to introduce Pakistani foundries globally covering the entire segment of foundry industry ranging from suppliers of raw materials and manufacturers of foun
Community-based action on climate change involving an estimated 35 million people across the planet in 2007 will culminate in the Clean Up the World Weekend on September 14-16.