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Print - 2008-01-20
Police, protesters clash in Bern ahead of World Economic Forum

Police, protesters clash in Bern ahead of World Economic Forum

Police detained about 100 people Saturday in clashes with far-left protesters in Bern at a banned rally against the World Economic Forum, less than a week before the annual pow-wow opens in the Swiss ski resort of Davos. Demonstrators, some of them masked
Published 20 Jan, 2008 12:00am
Culling to be stepped up as bird flu spreads in eastern India

Culling to be stepped up as bird flu spreads in eastern India

More than 10,000 head of poultry were slaughtered in seven districts of India's eastern West Bengal state in the past 24 hours as local authorities stepped up efforts to contain the latest outbreak of avian influenza, officials said.
Published 20 Jan, 2008 12:00am
Cotton export declined by 62 percent during December

Cotton export declined by 62 percent during December

Country''s raw cotton export has dipped by 62 percent during December 2007 as compared to same period of last fiscal year mainly due to shortfall in the cotton crop and high contamination ratio in the cotton, exporters said.
Published 20 Jan, 2008 12:00am
Cotton export declined by 62 percent during December

Cotton export declined by 62 percent during December

Country's raw cotton export has dipped by 62 percent during December 2007 as compared to same period of last fiscal year mainly due to shortfall in the cotton crop and high contamination ratio in the cotton, exporters said.
Published 20 Jan, 2008 12:00am
Cotton export declined by 62 percent during December

Cotton export declined by 62 percent during December

Country's raw cotton export has dipped by 62 percent during December 2007 as compared to same period of last fiscal year mainly due to shortfall in the cotton crop and high contamination ratio in the cotton, exporters said.
Published 20 Jan, 2008 12:00am
PPRA rules: ministries told to ensure compliance

PPRA rules: ministries told to ensure compliance

The finance ministry has directed all the ministries to strictly adhere to the Pakistan Procurement Regulatory Authority rules, 2004 after the World Bank smelled a rat in the bidding process of power transformers, official sources told Business Recorde
Published 20 Jan, 2008 12:00am
PPRA rules: ministries told to ensure compliance

PPRA rules: ministries told to ensure compliance

The finance ministry has directed all the ministries to strictly adhere to the Pakistan Procurement Regulatory Authority rules, 2004 after the World Bank smelled a rat in the bidding process of power transformers, official sources told Business Recorde
Published 20 Jan, 2008 12:00am
PPRA rules: ministries told to ensure compliance

PPRA rules: ministries told to ensure compliance

The finance ministry has directed all the ministries to strictly adhere to the Pakistan Procurement Regulatory Authority rules, 2004 after the World Bank smelled a rat in the bidding process of power transformers, official sources told Business Recorde
Published 20 Jan, 2008 12:00am
PPRA rules: ministries told to ensure compliance

PPRA rules: ministries told to ensure compliance

The finance ministry has directed all the ministries to strictly adhere to the Pakistan Procurement Regulatory Authority rules, 2004 after the World Bank smelled a rat in the bidding process of power transformers, official sources told Business Recorde
Published 20 Jan, 2008 12:00am
Authorities arrest two over Benazir plot

Authorities arrest two over Benazir plot

Pakistani security agents have arrested a youth who said he had been trained as a suicide bomber to kill opposition leader Benazir Bhutto had other militants failed to kill her, in the first arrests in the case, a security official said.
Published 20 Jan, 2008 12:00am
Authorities arrest two over Benazir plot

Authorities arrest two over Benazir plot

Pakistani security agents have arrested a youth who said he had been trained as a suicide bomber to kill opposition leader Benazir Bhutto had other militants failed to kill her, in the first arrests in the case, a security official said.
Published 20 Jan, 2008 12:00am
The Weather

The Weather

The weather report on Saturday (January 19, 2008) and the forecast for Sunday (January 20, 2008).
Published 20 Jan, 2008 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (January 14 to 18, 2008).
Published 20 Jan, 2008 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended on Saturday (January 19, 2008).
Published 20 Jan, 2008 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (January 21, 2008).
Published 20 Jan, 2008 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (January 21, 2008).
Published 20 Jan, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (January 19, 2008).
Published 20 Jan, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (January 19, 2008).
Published 20 Jan, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday January 21, 2008.
Published 20 Jan, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday January 21, 2008.
Published 20 Jan, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday January 21, 2008.
Published 20 Jan, 2008 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended on Saturday (January 19, 2008).
Published 20 Jan, 2008 12:00am
New York arabica coffee finishes lower

New York arabica coffee finishes lower

Arabica coffee futures ended weaker on Friday in a continued correction after flirting with an eight-year high Tuesday, traders said.
Published 20 Jan, 2008 12:00am
US copper up

US copper up

US copper futures settled up and near session highs Friday amid hopes that a proposed fiscal stimulus package from US President George W. Bush will be enough to stave off a recession in the world's largest economy, analysts said.
Published 20 Jan, 2008 12:00am
US gold futures higher

US gold futures higher

US gold futures finished slightly higher in choppy trade Friday on weak sentiment, capping a volatile week when contracts scaled a record high on Tuesday only to post heavy losses on Wednesday. President George W. Bush's plan to give the US economy tempor
Published 20 Jan, 2008 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper fell on Friday, disappointed after London failed to sustain gains as concerns swelled again that the US economy was ailing and demand could falter.
Published 20 Jan, 2008 12:00am
Supply woes thrust US spring wheat to center stage

Supply woes thrust US spring wheat to center stage

US spring wheat, prized by millers and bakers for its high protein content, upstaged the more actively traded winter wheats this week by soaring to a record-high price, setting the stage for more surprises through the year. Fuelling the rally in hard red
Published 20 Jan, 2008 12:00am
Rising trend on Australian wool

Rising trend on Australian wool

Australian wool market finished 1.1 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI rose by 8 Ac (Australian Cents) (+0.8 percent), ending the week on a season high of 1036Ac/kg.
Published 20 Jan, 2008 12:00am
Tokyo rubber down

Tokyo rubber down

Tokyo rubber futures dropped to a one-month low on Friday as declines in oil prices and a firming yen prompted strong selling by investment funds, but growing supply concerns lent support. Rubber prices came under pressure on increasing concerns that a lo
Published 20 Jan, 2008 12:00am
New York sugar down

New York sugar down

Raw sugar futures got hit late by speculative liquidation to finish sharply lower on Friday as prices bounced around like pinballs while traders and players tried to sort out the impact of an exchange order to a Brazilian firm curbing its ability to give
Published 20 Jan, 2008 12:00am
Lack of rain hurting Argentine soya

Lack of rain hurting Argentine soya

A lack of rain is causing problems for Argentina's 2007/08 soy crop in leading growing areas, although light rains have helped some plants in recent days, the Agriculture Secretariat said on Friday.
Published 20 Jan, 2008 12:00am
Oil price slides on US woes but gold shines

Oil price slides on US woes but gold shines

Oil prices slid further last week on widespread fears of a US-led economic slowdown, which also pushed gold prices to new record highs above 900 dollars an ounce. US President George W. Bush called Friday for Congress to act quickly on a stimulus plan wor
Published 20 Jan, 2008 12:00am
US wheat futures up

US wheat futures up

US wheat futures soared 2 to 3 percent on Friday, wrapping up a wild week in which high-protein spring wheat futures at the Minneapolis Grain Exchange soared to all-time highs approaching $12 a bushel. The move in Minneapolis, the smallest of the three US
Published 20 Jan, 2008 12:00am
Shanghai port traffic rises

Shanghai port traffic rises

Shanghai's ports handled 26 million twenty-foot container equivalent units (TEU) in 2007, a rise of more than 20 percent that helped the city surpass Hong Kong to rank second globally, the Xinhua news agency said late on Friday, citing Shanghai port and s
Published 20 Jan, 2008 12:00am
Singapore bunker fuel prices fall

Singapore bunker fuel prices fall

Singapore bunker prices fell on Friday, but its differential to fuel oil cargo values stayed firm at near-parity levels for a fourth day. Prices for the 380-centistoke (cst) grade were $3.00 lower at $452-$454 a tonne, with its discount at 15 cents, narro
Published 20 Jan, 2008 12:00am
Brazilian sugar vessels lineup remains at 33

Brazilian sugar vessels lineup remains at 33

The line-up of vessels waiting to load sugar in Brazilian ports this week remained at 33 ships waiting, shipping agent Williams said. In a weekly report, Williams said nine vessels were lined up in the southern port of Santos, same number as last week. Th
Published 20 Jan, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 71,283 tonnes cargo including 49,891 tonnes import, 21,392 tonnes export cargo and 3,414 containers (TEUs) during last 24 hours ending at 0700 hours on Saturday. The cargo comprised of 39,468 tonnes dry cargo including 32,380 tonn
Published 20 Jan, 2008 12:00am
Zimbabwe bank on spinners to upset Pakistan

Zimbabwe bank on spinners to upset Pakistan

Zimbabwe are banking on their spinners to shine in helpful conditions if they are to upset Pakistan in a low-key five match one-day international series starting on Monday. Zimbabwean skipper Prosper Utseya said he had formed a good bowling partnership wi
Published 20 Jan, 2008 12:00am
Rooney and Ronaldo show keeps United on top

Rooney and Ronaldo show keeps United on top

A Wayne Rooney special and Cristiano Ronaldo's 23rd goal of the season finally broke Reading's resistance and kept Manchester United on top of the Premier League on Saturday. The champions had looked as if they would be force to settle for a single point
Published 20 Jan, 2008 12:00am
FIFA president calls for change in timing

FIFA president calls for change in timing

FIFA president Sepp Blatter said a solution to the controversy over the timing of the African Nations Cup finals must be found. Blatter is keen for the tournament to conform with the international calendar and with most of the other continental championsh
Published 20 Jan, 2008 12:00am
Venus battles past gutsy Mirza

Venus battles past gutsy Mirza

Eighth seed Venus Williams survived her toughest test at the Australian Open to beat Indian Sania Mirza 7-6 6-4 and reach the fourth round on Saturday. Mirza produced a superb performance but American Williams eventually wore her down to reach the last 16
Published 20 Jan, 2008 12:00am
Five-set fright for Federer as Djokovic drives on

Five-set fright for Federer as Djokovic drives on

Roger Federer flirted with Grand Slam disaster before pulling off a desperate five-set Australian Open victory Saturday, but there were no such dramas for young Serb hotshot Novak Djokovic. While the 12-time Grand Slam champion had to pull out all stops t
Published 20 Jan, 2008 12:00am
Australians fined for slow over rate

Australians fined for slow over rate

Australian captain Ricky Ponting admitted the prospect of a suspension affected his tactics after he was fined 20 percent of his match fee for a slow over rate during the 72-run loss to India in the third Test Saturday.
Published 20 Jan, 2008 12:00am
India halt Australia's winning streak

India halt Australia's winning streak

Indian captain Anil Kumble hailed one of the greatest wins of his career after his side again halted a record Australian winning streak with a famous 72-run victory in the third Test at the WACA Ground here Saturday. Set 413 to win an unprecedented 17th T
Published 20 Jan, 2008 12:00am
Polio eradication campaign in District Tando Allahyar

Polio eradication campaign in District Tando Allahyar

A meeting to discuss arrangements of Polio eradication campaign was held under the chairmanship of District Naib Nazim Tando Allahyar Faizul-Haq-Sabir Qaimkhani at District Nazim Secretariat.
Published 20 Jan, 2008 12:00am
Gas blast in bank basement kills guard

Gas blast in bank basement kills guard

The gas explosion in the basement of a bank at Murree Road resulted in death of a security guard injuring two others, besides causing heavy damages to the building.
Published 20 Jan, 2008 12:00am
Sindh has historical record of agro-based export

Sindh has historical record of agro-based export

The Vice Chancellor (VC), Sindh Agriculture University (SAU) Tandojam, Professor Dr Bashir Ahmed Sheikh has said that Sindh inherits the fertile Indus valley which is famous for its glorious heritage of Mohen-jo-Daro, the centre of civilisation.
Published 20 Jan, 2008 12:00am
Tokyo to sell off governor's luxury mansion

Tokyo to sell off governor's luxury mansion

Tokyo's city government is selling its governor's residence, which has been lying empty for years, hoping to raise tens of millions of dollars for local government coffers.
Published 20 Jan, 2008 12:00am
ECB to keep focus on price stability: Draghi

ECB to keep focus on price stability: Draghi

The focus of the European Central Bank's Governing Council is and will remain on price stability, council member Mario Draghi said on Saturday. The Bank of Italy governor's comments to a forex conference in the city of Bari came as pressure looks likely t
Published 20 Jan, 2008 12:00am
Bush urges Congress to act on economic stimulus

Bush urges Congress to act on economic stimulus

US President George W. Bush urged Congress on Saturday to act without delay on his economic stimulus package and make temporary tax cuts passed earlier in his administration permanent. "Passing a new growth package is our most pressing economic priority,"
Published 20 Jan, 2008 12:00am
Turkey signs $3.3 billion FDI deal, seeks Asian cash

Turkey signs $3.3 billion FDI deal, seeks Asian cash

Turkey has signed $3.3 billion worth of greenfield investment for early 2008 and hopes to lure fresh capital from Asia to help weather global financial turmoil, the head of Turkey's investment agency said on Friday. Turkey has seen economic growth slow in
Published 20 Jan, 2008 12:00am
China outbound investment reached $20 billion

China outbound investment reached $20 billion

China's outbound investment totalled about $20 billion in 2007, Xinhua news agency said on Saturday, a figure that is still less than one third of the investment that flowed into China.
Published 20 Jan, 2008 12:00am
China investment inflows brisk despite scrutiny

China investment inflows brisk despite scrutiny

China drew $74.7 billion in foreign direct investment in 2007, underlining its continuing attractiveness to international companies despite an increasingly choosy stance by Beijing. The number was reported on Saturday by the official Xinhua news agency, w
Published 20 Jan, 2008 12:00am
Bond plan mooted to save troubled British bank

Bond plan mooted to save troubled British bank

Prime Minister Gordon Brown on Saturday confirmed receipt of a key report on the future financing of British bank Northern Rock, after claims its loans will be converted into bonds and sold.
Published 20 Jan, 2008 12:00am
Bond plan mooted to save troubled British bank

Bond plan mooted to save troubled British bank

Prime Minister Gordon Brown on Saturday confirmed receipt of a key report on the future financing of British bank Northern Rock, after claims its loans will be converted into bonds and sold.
Published 20 Jan, 2008 12:00am
Higher oil output not needed: Opec

Higher oil output not needed: Opec

Opec currently sees no need for an increase in oil output but is analysing the market every day, the organisation's Secretary General Abdullah al-Badri told German weekly magazine Der Spiegel in an interview.
Published 20 Jan, 2008 12:00am
FDA clears new J&J HIV drug

FDA clears new J&J HIV drug

Health-care products maker Johnson & Johnson won US approval to sell a new HIV drug called Intelence for patients with resistance to other therapies, US officials said on Friday. The drug, also known as TMC125 or etravirine, is a new member of the family
Published 20 Jan, 2008 12:00am
Oman bans poultry imports from India and Iran

Oman bans poultry imports from India and Iran

Oman has banned the import of all poultry and poultry products from India and Iran, the state news agency ONA said on Saturday, after outbreaks of avian influenza in those countries. The report gave no official reason for the ban.
Published 20 Jan, 2008 12:00am
UniCredit not interested in US acquisitions

UniCredit not interested in US acquisitions

UniCredit Chairman Dieter Rampl said on Saturday the European banking giant was not interested in any acquisitions in the United States. His comment comes a day after Italy's leading business daily said UniCredit might be interested in buying the $47 bill
Published 20 Jan, 2008 12:00am
US urges Opec, South Arabia to raise output

US urges Opec, South Arabia to raise output

US Energy Secretary Sam Bodman said on Saturday that Saudi Arabia should raise output to ease tightness in world oil supplies and that Opec should up output at its February 1 meeting.
Published 20 Jan, 2008 12:00am
Emerging debt market weakens

Emerging debt market weakens

Emerging sovereign debt fell on Friday in volatile trade, following the lead of weaker US stocks as a fiscal stimulus package unveiled by the Bush administration failed to fire up investor enthusiasm. Emerging market economies rely on the demand from the
Published 20 Jan, 2008 12:00am
Emerging debt market weakens

Emerging debt market weakens

Emerging sovereign debt fell on Friday in volatile trade, following the lead of weaker US stocks as a fiscal stimulus package unveiled by the Bush administration failed to fire up investor enthusiasm. Emerging market economies rely on the demand from the
Published 20 Jan, 2008 12:00am
Argentine stocks end lower

Argentine stocks end lower

Argentine stocks slipped on Friday for a fourth straight session, pressured by persistent worries about fallout from a US economic downturn and the absence of institutional investors, traders said. The MerVal index of 42 leading companies closed 0.43 perc
Published 20 Jan, 2008 12:00am
Singapore shares expected to decline further

Singapore shares expected to decline further

Singapore share prices are expected to fall further in a volatile market buffeted by worries of a recession in the United States, the world's biggest economy, dealers said. "I expect share prices to decrease further next week with the volatility in the ma
Published 20 Jan, 2008 12:00am
Hong Kong shares to take lead from Wall Street

Hong Kong shares to take lead from Wall Street

Hong Kong share prices will track Wall Street's performance next week as fears over the subprime mortgage crisis and the state of the US economy continue to haunt the market, dealers said. But they said Hong Kong stocks are likely to see a technical rebou
Published 20 Jan, 2008 12:00am
Toronto stocks finish at 10-month low

Toronto stocks finish at 10-month low

The Toronto Stock Exchange's main index pared losses but still capped the week with another drop on Friday, in a four-day plunge that has rattled the market amid deepening worries of a recession south of the border. The index logged another 10-month closi
Published 20 Jan, 2008 12:00am
Mexican stocks edge up

Mexican stocks edge up

Mexican stocks edged up on Friday as bargain hunters bought up shares of retailer Walmex and other beaten-down stocks, after a see-saw session that capped a week of heavy losses amid concerns of a looming US recession.
Published 20 Jan, 2008 12:00am
Short-dated US bonds rise

Short-dated US bonds rise

Short-dated US government bonds rose on Friday as stocks turned negative on investor fears a White House stimulus package might not keep the economy from sliding into recession.
Published 20 Jan, 2008 12:00am
Short-dated US bonds rise

Short-dated US bonds rise

Short-dated US government bonds rose on Friday as stocks turned negative on investor fears a White House stimulus package might not keep the economy from sliding into recession.
Published 20 Jan, 2008 12:00am
RiskMetrics poised to headline next week's IPOs

RiskMetrics poised to headline next week's IPOs

As some of Wall Street flees from risk, some investors may be ready to embrace the coming initial public offering RiskMetrics Group Inc. The New York-based firm, which advises thousands of companies on how to measure and navigate a broad range of risks co
Published 20 Jan, 2008 12:00am
Brazil stocks surge

Brazil stocks surge

Brazil's stocks rose on Friday, after three days of losses, as bargain hunters bought shares of Petrobras and other companies that had tumbled in the previous sessions. The Bovespa index of the Sao Paulo Stock Exchange firmed 0.8 percent to 57,506 points,
Published 20 Jan, 2008 12:00am
Chile stocks decline

Chile stocks decline

Chilean stocks closed at a new 13-month low on Friday, after news of a US economic stimulus package failed to rally support. Chile's all-market IGPA index fell 1.02 percent to 12,173.18 points, bringing its loss for 2006 to 13.5 percent, while the blue ch
Published 20 Jan, 2008 12:00am
US corporate bond spreads steady

US corporate bond spreads steady

US corporate bonds were steady to slightly better on Friday after spreads widened this week on continuing concern about bond insurers' ratings and Wall Street bank losses. Overall, spreads were little changed to 2 basis points tighter, traders said, in li
Published 20 Jan, 2008 12:00am
US corporate bond spreads steady

US corporate bond spreads steady

US corporate bonds were steady to slightly better on Friday after spreads widened this week on continuing concern about bond insurers' ratings and Wall Street bank losses. Overall, spreads were little changed to 2 basis points tighter, traders said, in li
Published 20 Jan, 2008 12:00am
Canadian bonds end mixed

Canadian bonds end mixed

The Canadian bond prices ended mixed and were barely changed on Friday as dealers avoided huge positions ahead of key economic data next week and the Bank of Canada's Monetary Policy Report Update. A Bank of Canada rate cut is already mostly priced into t
Published 20 Jan, 2008 12:00am
Canadian bonds end mixed

Canadian bonds end mixed

The Canadian bond prices ended mixed and were barely changed on Friday as dealers avoided huge positions ahead of key economic data next week and the Bank of Canada's Monetary Policy Report Update. A Bank of Canada rate cut is already mostly priced into t
Published 20 Jan, 2008 12:00am
Thailand shares set to be volatile

Thailand shares set to be volatile

Thai share prices are expected to remain volatile next week, as investors wait to hear details of a proposed economic stimulus package to bolster the US economy, dealers said.
Published 20 Jan, 2008 12:00am
US stocks tumble

US stocks tumble

US stocks tumbled for a fourth day on Friday to close out the worst week for the S&P 500 in five years on worry that a White House effort to boost the economy may not prevent a recession.
Published 20 Jan, 2008 12:00am
BoK in wait-and-see mode on inflation

BoK in wait-and-see mode on inflation

Bank of Korea Governor Lee Seong-tae said on Friday that the central bank will not immediately act when inflation rises above the BOK's target but will instead consider the overall economic conditions first.
Published 20 Jan, 2008 12:00am
New Zealand central bank seen keeping rates at high level

New Zealand central bank seen keeping rates at high level

New Zealand's central bank is expected to keep interest rates steady next week amid signs of cooling consumer demand and global market turbulence, but it will remain alert to the threat of inflation, a Reuters poll shows.
Published 20 Jan, 2008 12:00am
Yen, Swiss franc edge higher

Yen, Swiss franc edge higher

The Japanese yen and Swiss franc firmed on Friday as a fiscal stimulus package failed to ease US recession fears, prompting investors to shun risky assets such as stocks and higher-yielding currencies. US President George W. Bush on Friday called for an e
Published 20 Jan, 2008 12:00am
Brazil real firms

Brazil real firms

Brazil's currency, the real, firmed 0.06 percent versus the US dollar to 1.786. The currency had earlier traded as strong as 1.774 per dollar, but pared gains on concerns a US fiscal stimulus package would not be enough to forestall a recession.
Published 20 Jan, 2008 12:00am
IMM speculators ease bets a little against the dollar

IMM speculators ease bets a little against the dollar

Currency speculators eased their bets against the US dollar slightly though their long Japanese yen position remained near a three-year high, weekly data from the Commodity Futures Trading Commission showed on Friday.
Published 20 Jan, 2008 12:00am
India's central bank acts to ease tight cash

India's central bank acts to ease tight cash

India's central bank extended trading on its electronic cash platform by an hour on Friday and said it will conduct an additional money market operation as part of measures to ease a sudden cash crunch in the banking system.
Published 20 Jan, 2008 12:00am
Chinese banks' bad loans drop, focus now on strategy

Chinese banks' bad loans drop, focus now on strategy

China's banking regulator on Friday laid out its priorities for 2008, saying that it would focus on helping commercial banks sharpen their operations by improving their strategic planning, innovation and services.
Published 20 Jan, 2008 12:00am
White House bets consumers will spend tax cuts

White House bets consumers will spend tax cuts

The Bush administration is optimistic US consumers will spend, rather than save, the bulk of any tax cuts they receive under an economic stimulus package the White House wants to craft with Congress, US Commerce Secretary Carlos Gutierrez said on Friday.
Published 20 Jan, 2008 12:00am
Dollar seen higher next week

Dollar seen higher next week

The dollar is likely to get a boost next week from safe-haven flows as jittery investors shun risky assets such as global stocks as prospects of a US recession mount. The currency could further benefit from renewed investor optimism following the US gover
Published 20 Jan, 2008 12:00am
38 rebels killed in Sri Lanka

38 rebels killed in Sri Lanka

The Sri Lankan military said on Saturday its troops had killed 38 Tamil Tiger rebels and one of its soldiers had died in fresh fighting in the north. A six-year truce between the state and Liberation Tigers of Tamil Eelam (LTTE) formally ended on Wednesda
Published 20 Jan, 2008 12:00am
Khaleda Zia freed briefly for mother's funeral

Khaleda Zia freed briefly for mother's funeral

Former Bangladesh Prime Minister Khaleda Zia and her two sons were temporarily released from jail on Saturday to attend the funeral service of her mother, an official said. Zia's mother Tyeba Majumdar, 87, died in the northern district town of Dinajpur on
Published 20 Jan, 2008 12:00am
Bush taps new commander for forces in Afghanistan

Bush taps new commander for forces in Afghanistan

US President George W Bush Friday tapped Army General David McKiernan as the new commander for Nato's international forces in Afghanistan. If confirmed by the US Senate, McKiernan would relieve General Dan McNeill, who has headed the International Securit
Published 20 Jan, 2008 12:00am
Karzai calls for unity against extremism

Karzai calls for unity against extremism

Afghan President Hamid Karzai called Saturday on Muslims to unite against "tyrants" carrying out a wave of suicide attacks in the region under the name of Islam. Muslim nations should work together to safeguard their religion, Karzai told about 2,000 peop
Published 20 Jan, 2008 12:00am
20 Taliban killed in joint operation

20 Taliban killed in joint operation

More than 20 Taliban rebels were killed and over a dozen wounded in a joint operation between Afghan and Western forces in eastern Afghanistan, officials said on Saturday. The Islamic extremists were killed late Friday in the province of Kunar, its govern
Published 20 Jan, 2008 12:00am