A top EU official expressed concern on Monday about Israel's economic sanctions on the Gaza Strip, urging restraint and saying the measures could bolster extremists in the Hamas-run territory.
The United States on Monday brushed aside the UN nuclear watchdog agency chief's warning that there was no proof Iran seeks atomic weapons, and invited him to stay out of diplomacy with Tehran.
Sterling strengthened against the euro and dollar on Monday, trading above $2.06 for the first time in three months and to within half a cent of a fresh 26-year high as traders bet British interest rates won't fall as fast as US ones.
The dollar sagged to a record low against the euro and a basket of major currencies on Monday, pressured by expectations of a Federal Reserve interest rate cut this week and perhaps another reduction by the end of the year.
The Canadian dollar reached on Monday a 47-year high versus the US greenback, gaining on the US currency's recent weakness, as well as soaring demand for oil and other natural resources. At 1500 GMT, the American dollar was worth only 95.47 Canadian dolla
The Indian rupee inched towards its highest in more than 9-« years on Monday, but most gains from record-breaking shares were offset by strong dollar demand from oil refiners and an engineering and construction firm.
China's yuan jumped 0.3 percent against the dollar on Monday, its biggest daily gain since its July 2005 revaluation, which dealers said might show the central bank was priming markets for slightly faster appreciation next year.
European credit spreads tightened on Monday, lifted by rising stocks and upbeat market sentiment ahead of an anticipated US interest rate cut. By 1614 GMT, the iTraxx Crossover index, made up of 50 mostly speculative-grade credits, was at 320 basis points
European credit spreads tightened on Monday, lifted by rising stocks and upbeat market sentiment ahead of an anticipated US interest rate cut. By 1614 GMT, the iTraxx Crossover index, made up of 50 mostly speculative-grade credits, was at 320 basis points
The euro continued its surge versus the rupee in open market on Monday, gaining another 13 paisa for buying and selling at Rs 87.10 and 87.18, dealers said. The rupee, however, did not move any side against dollar for buying and selling Rs 60.70 and Rs 60
US stocks gained on Monday, on speculation the Federal Reserve will cut rates this week and as investors snapped up energy and material shares as commodities prices soared.
The euro continued its surge versus the rupee in open market on Monday, gaining another 13 paisa for buying and selling at Rs 87.10 and 87.18, dealers said. The rupee, however, did not move any side against dollar for buying and selling Rs 60.70 and Rs 60
The insurance industry of Pakistan forms a meagre part of the GDP as compared to other nations of the world. With penetration of merely 0.5%, the industry is still in its nascent stage in consequent of lower demand. The concept of insurance in Pakistan is
European stocks notched up a third successive session of gains on Monday, helped by commodity shares that rose on higher crude prices and a mining sector take-over, and as investors bet on a US rate cut this week. The pan-European FTSEurofirst 300 index o
The insurance industry of Pakistan forms a meagre part of the GDP as compared to other nations of the world. With penetration of merely 0.5%, the industry is still in its nascent stage in consequent of lower demand. The concept of insurance in Pakistan is
Cotton futures settled higher Monday on spillover investment fund buying coming from the firm tone of other commodity markets, and brokers say fibre contracts may try to build on those gains this week. ICE Futures open-outcry December cotton added 0.14 ce
London robusta coffee futures finished mostly higher on Monday with nearby positions rising on renewed concern about a supply squeeze for the November contract and emerging talk about tightness for January, dealers said.
Copper closed lower on Monday after a major wage deal, having risen to its highest level in over a week as the dollar tumbled on growing speculation of a US rate cut, boosting sentiment in commodity markets. AnalysSouthern Copper, one of the world's large
Ghana's 2007/2008 cocoa crop has opened strongly in its first week, despite some minor delays involving offloading of truck deliveries at ports and bank payments for purchases, buyers and officials said. They said Licensed Buying Companies (Lbws) had show
Gold rallied to its highest level in 28 years on Monday and targeted $800 an ounce as oil surged to a record peak and the dollar tumbled on speculation over a US interest rate cut. Other metals also jumped before easing in late trading, with platinum sett
A large quantity cloths and cotton yarn hoarded in two godowns in Lal Mills (Factory area) and Nabha Road area were reduced into ashes in two separate fire incidents. Fire tenders of Fire Brigade Department rushed to the scenes of fire and extinguished th
Pakistan Poultry Association (PPA) Punjab zone has arranged a two-day 'International Poultry Congress and Exhibition' at the Jinnah Convention Centre in Islamabad on November 9 and 10. PPA patron in-chief Haji Muhammad Bashir and chairman Shahid Mahmood D
The homecoming of PPP chairperson and former prime minister Benazir Bhutto ending her eight and half years self-exile on October 18 was the first manifestation of the national reconciliation which President General Pervez Musharraf has recently initiated
Reports about military operation in Swat are quite disturbing in more than one respects. The caretaker Provincial Government of NWFP has deployed a large number of paramilitary and police personnel in the troubled district of Swat to what has been describ
It is the job of institutions involved in religious education to teach people at large not to engage in suicidal attacks as this is not allowed in Islam. The very word Islam means peace and non-violence.
Reproduced alongside is the executive summary of State Bank of Pakistan Annual Report 2006-07 released by SBP Governor Dr Shamshad Akhtar on Monday. Pakistan''s economy witnessed a moderate recovery during FY07 with real GDP growth reaching the 7.0 percen
Reproduced alongside is the executive summary of State Bank of Pakistan Annual Report 2006-07 released by SBP Governor Dr Shamshad Akhtar on Monday. Pakistan's economy witnessed a moderate recovery during FY07 with real GDP growth reaching the 7.0 percent
Reproduced alongside is the executive summary of State Bank of Pakistan Annual Report 2006-07 released by SBP Governor Dr Shamshad Akhtar on Monday. Pakistan's economy witnessed a moderate recovery during FY07 with real GDP growth reaching the 7.0 percent
It has been several months since the despatch of a draft bill for approval to the President that is tailored to benefit the incumbent Prime Minister. So far the President has rightly chosen to ignore it.
Economic managers of the government on their recent visit to Washington to participate in the annual meetings of the IMF and the World Bank tried to assure the international community that the economy of the country is performing well and the present econ
Engineer D I B Shaikh, Chief Engineering Advisor/Chairman Federal Flood Commission, Ministry of Water and Power has been elected as Vice President of the International Commission on Irrigation and Drainage (ICID), in an election recently held in USA, amon
Attock Refinery Limited (ARL) has qualified as a finalist for the 2007 Platts Global Energy Awards, in the category Community Development Programme of the year. The winner name will be announced in November 2007 in New York, USA.
A three-day anti polio campaign would be started here on Tuesday (October 30) to save the children under five years of age from the crippling disease of polio.
The Pakistan Telecommunication Authority (PTA) has launched the pilot phase of Rural Telecentre Project called 'Rabta Ghar', PTA sources said on Monday. The sources said in the pilot phase, a total of 32 Rabta Ghar are being established in five districts
Peeru's café and the Annemarie-Schimmel-Haus have arranged a concert of German band Lychee Lassi on Tuesday. The group's performance will be part of Peeru's ongoing cultural activities, including Sufi Night, Rock Night and Jazz Night attracting national a
Jammu & Kashmir Peoples Muslim League Chief and former AJK Prime Minister Barrister Sultan Mahmood Chaudhry on Monday emphasised the need for launching an aggressive diplomatic campaign at international fora to boost global pressure for early peaceful res
Aitzaz Ahsan backed by the Professional Group won the Supreme Court Bar Association presidency for 2007-08 when he defeated his rival candidate Barrister Zafarrullah by 864 votes. The official result will be announced on October 31.
The Metro Cash and Carry will open its first wholesale centre in Lahore on Tuesday. "Pakistan is the 29th country, where the international market leader in self-service wholesale is present. Metro's concept is tailored to the special needs of Pakistani co
The Supreme Court Bar Association has told bar members to deposit their insurance fee by November 15. In its meeting the bar has extended the last date and told the members to deposit a cheque of Rs 34,000 with their application to the bar office.
A ticket holder of the Pakistan People's Party (PPP) from NA-85 Faisalabad Haji Bilal Noor Ansari and party leader Haji Riaz Ahmad Ansari expressed their confidence in the leadership of PML Chief Chaudhry Shujaat Hussain and Chief Minister Pervaiz Elahi a
The Provincial Steering Committee approved nine new development projects under the Tameer Punjab Programme costing Rs 6.28 million. The committee met here on Monday with Local Government Minister Muhammad Basharat Raja chairing it.
Pak-India Peace Initiatives President Awais Sheikh was honoured with the Ambassador of Peace award jointly by the Universal Peace Federation (UPF) and the Inter-religious International Federation for World Peace (IIFWP) for his services for restoration of
Despite having its best policies in the world, Pakistan has been suffering on the economic front only because of poor-level of implementation of the same, Lahore Chamber of Commerce and Industry (LCCI) President Shahid Hassan Sheikh told a 86-member Natio
Lufthansa resumed its flight operations from Pakistan with LH658 flight landing at the Allama Iqbal International Airport here on Monday after its stopover at the Karachi Airport.
Pakistan Motors Transport Federation (PMTF) President Haji Naseer Ahmad Butt has warned the Punjab government that transport organisations will go on a two-day strike on November 12 and 13, if the government refuses to drop the traffic rules violation fin
A meeting of the Livestock and Dairy Development was held on Monday to review the development projects with the Additional Secretary Livestock, Mushtaq Ahmad in chair. The meeting reviewed the ongoing projects and directed concerned officers to complete t
A general body meeting of Sheikhupura Chamber of Commerce and Industry (SCCI) will be held on Tuesday to discuss various crucial issues, including the menace of power load shedding.
Nokia, the world leader in mobility, held the grand finale of the Nokia spotlight talent competition in music at Lok Virsa on Sunday. The music contests included vocal, music bands and instrument categories brought young musicians from colleges and univer
Former senator and information minister Javed Jabbar, who accidentally tripped and fell in his hotel room on Sunday, was declared injury-free by doctors here. "I am fine," Jabbar told APP after undergoing a check-up at a hospital where he was taken after
Opposition leader in the Punjab Assembly and Pakistan People's Party leader Qasim Zia has said his party will hold accountable to the "Chaudhrys" after coming into power. Qasim told reporters here on Monday that the Punjab chief minister was spending mill
Sales tax collection, at Rs 3.3 billion, fell six percent short of the Rs 3.5 billion target set for the first quarter of current fiscal year. Sources in Sales Tax House told Business Recorder here on Monday that the amount collected during the qua