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Jan 20, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-04-22
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed one percent higher on Monday as investors took their cue from a rally on Wall Street at the end of last week, dealers said.The Kuala Lumpur Composite Index (KLCI) ended the session up 12.35 points at 1,280.0, off a high of 1,
Published 22 Apr, 2008 12:00am
Nikkei ends at two-month high

Nikkei ends at two-month high

Japan's Nikkei benchmark rose 1.6 percent to a nearly two-month closing high on Monday, powered higher by Honda Motor Co Ltd and other automakers on a weaker yen and hope that financial firms' woes have not spread to other sectors.
Published 22 Apr, 2008 12:00am
Taiwan dollar ends flat

Taiwan dollar ends flat

The Taiwan dollar ended barely changed on Monday as short-covering in the US dollar in the non-deliverable forwards market was roughly offset by exporters and some foreign buying in the equity market. The Taiwan dollar ended slightly weaker at T$30.288 to
Published 22 Apr, 2008 12:00am
Dollar rises versus yen in Asia

Dollar rises versus yen in Asia

The dollar edged towards a seven-week high against the yen on Monday, as Citigroup's results fuelled hopes that the worst of the bank losses stemming from the US housing sector are out.
Published 22 Apr, 2008 12:00am
Swiss franc seen lower

Swiss franc seen lower

The Swiss franc traded little changed against the euro and the dollar on Monday but the Swissie was seen losing ground later in the session as risk aversion, which typically supports the franc, is expected to ease.
Published 22 Apr, 2008 12:00am
Most Asian currencies range-bound

Most Asian currencies range-bound

Most currencies in Asia stuck to tight ranges on Monday, gripped by uncertainty over the strength of a rebound in the dollar, which came after earnings from US banks raised hopes that credit markets were recovering. The South Korean won was the exception,
Published 22 Apr, 2008 12:00am
Australian dollar rises to five-week high

Australian dollar rises to five-week high

The Australian dollar rallied to its highest in nearly five weeks against the US currency on Monday after strong producer price data dashed hopes the central bank would give up its tightening bias in the near term.
Published 22 Apr, 2008 12:00am
Yuan down

Yuan down

The yuan closed slightly lower against the dollar on Monday, pressured as banks bought dollars to prepare to cover China's latest hike in bank reserve ratios, which will take effect late this week.
Published 22 Apr, 2008 12:00am
South Africa coach Parreira resigns

South Africa coach Parreira resigns

Brazilian Carlos Alberto Parreira announced his resignation on Monday as coach of 2010 World Cup hosts South Africa. World Cup-winning coach Parreira, who served 15 months of a three-and-a-half-year contract aimed at transforming the struggling national t
Published 22 Apr, 2008 12:00am
Federer retains lead in ATP rankings

Federer retains lead in ATP rankings

Switzerland's Roger Federer reinforced his lead in the ATP rankings, released Monday, after winning for the first time this year at Estoril Sunday. Spaniard Rafael Nadal is still in second place ahead of third placed Novak Djokovic of Serbia.
Published 22 Apr, 2008 12:00am
Henry in doubt for Champions League clash

Henry in doubt for Champions League clash

Barcelona forward Thierry Henry is doubtful for the first leg of their Champions League semi-final at home to Manchester United on Wednesday as he is suffering from a fever.
Published 22 Apr, 2008 12:00am
Key back in the England frame for New Zealand, South Africa

Key back in the England frame for New Zealand, South Africa

England have named three uncapped players in their squad for the upcoming matches against New Zealand and South Africa and handed batsman Robert Key a recall three years after his last international appearance.
Published 22 Apr, 2008 12:00am
Gerrard fit and going nowhere: Benitez

Gerrard fit and going nowhere: Benitez

Liverpool manager Rafael Benitez confirmed on Monday that Steven Gerrard will be fit to face Chelsea in the semi-final of the Champions League and then played down talk that his captain could be a summer transfer target for the Blues.
Published 22 Apr, 2008 12:00am
Real poised to wrap up title after victory over Racing

Real poised to wrap up title after victory over Racing

Real Madrid players celebrated Sunday's 2-0 victory over Racing Santander as if they had won the title and it seems only a matter of time before they wrap up their 31st league championship. Sunday's win left Real 10 points clear of second-placed Villarrea
Published 22 Apr, 2008 12:00am
Mathieu out of Monte Carlo but Murray through

Mathieu out of Monte Carlo but Murray through

French ninth seed Paul-Henri Mathieu was knocked out of the Monte Carlo Masters on Monday, losing 6-4 2-6 6-3 to Serb Janko Tipsarevic. It was a bad day for French players with Fabrice Santoro also bowing out 7-6 6-1 against Kristov Vliegen.
Published 22 Apr, 2008 12:00am
Australia and Pakistan reschedule tour

Australia and Pakistan reschedule tour

Australia have agreed to split their postponed tour to Pakistan in two parts and will tour in April-May next year and again in 2010, a joint statement from the two boards said on Monday.
Published 22 Apr, 2008 12:00am
Jaguar, Land Rover chief dies in Australia

Jaguar, Land Rover chief dies in Australia

The chief executive of British luxury icons Jaguar and Land Rover, Geoff Polites, has died in Australia where he was visiting family, Ford Australia said Monday. He was 60. Polites, a former president of Ford Australia, is credited with leading Jaguar and
Published 22 Apr, 2008 12:00am
Malaysia to overhaul anti-corruption agency

Malaysia to overhaul anti-corruption agency

Malaysia unveiled plans on Monday to beef up its Anti-Corruption Agency (ACA) and make it a more independent body, in response to calls for faster progress on a four-year-old government pledge to tackle graft.
Published 22 Apr, 2008 12:00am
Former bishop wins Paraguay vote

Former bishop wins Paraguay vote

A sandal-wearing former bishop's presidential election victory suggests Paraguay's democracy has matured, but after 61 years of one-party rule his political foes may dictate the pace of change.
Published 22 Apr, 2008 12:00am
Russia closes Soviet-era weapons-grade reactor

Russia closes Soviet-era weapons-grade reactor

Russia said on Monday it had closed a weapons-grade plutonium reactor as part of a deal with the United States to reduce the risk of proliferation from Cold War-era nuclear bomb plants. The reactor, at a secret Siberian plant founded by Soviet leader Jose
Published 22 Apr, 2008 12:00am
Saudi 'guardianship' key to women rights abuse: HRW

Saudi 'guardianship' key to women rights abuse: HRW

Saudi Arabia's system of male "guardianship" or wide-ranging control over women lies at the heart of rights abuse in the conservative Islamic state, US-based Human Rights Watch (HRW) said on Monday. But a government spokesman said Saudi Arabia was disappo
Published 22 Apr, 2008 12:00am
Zimbabwe recount worthless: Britain

Zimbabwe recount worthless: Britain

Britain on Monday condemned the ongoing recount in Zimbabwe's contested general elections as a worthless exercise aimed at allowing President Robert Mugabe to "steal" the vote. "No-one can have any faith in this recount," Foreign Secretary David Miliband
Published 22 Apr, 2008 12:00am
US signs nuclear power cooperation deal with UAE

US signs nuclear power cooperation deal with UAE

The United States and the United Arab Emirates signed an agreement on Monday to cooperate on a peaceful nuclear energy programme, with the UAE promising to be a "responsible" partner.
Published 22 Apr, 2008 12:00am
Indonesia jails two leaders of Jemaah Islamiyah

Indonesia jails two leaders of Jemaah Islamiyah

An Indonesian court sentenced two leaders of the Jemaah Islamiyah group, blamed for the 2002 Bali bombings, to 15 years' jail on Monday and slammed the Islamist outfit as a "terrorist organisation." Self-proclaimed Jemaah Islamiyah (JI) leaders Abu Dujana
Published 22 Apr, 2008 12:00am
Rice fails to clinch firm Arab commitments on Iraq

Rice fails to clinch firm Arab commitments on Iraq

US Secretary of State Condoleezza Rice moved to Kuwait on Monday after trying to persuade Sunni-led Arab allies to back Iraq's Shia leadership but failing to clinch any concrete commitments on debt relief or diplomatic presence.
Published 22 Apr, 2008 12:00am
Paris makes Dalai Lama honorary citizen

Paris makes Dalai Lama honorary citizen

Paris city council voted on Monday to award honorary citizenship to the Dalai Lama, in a move sure to add to tensions with China as fresh anti-French rallies erupted in cities across the country. Mayor Bertrand Delanoe, who tabled the proposal earlier Mon
Published 22 Apr, 2008 12:00am
US relaxes bid to halt atom enrichment technology sales

US relaxes bid to halt atom enrichment technology sales

The United States has given up a bid to ban uranium-enrichment technology sales to non-nuclear states, instead proposing criteria for such transactions to win over critics in the Nuclear Suppliers Group, diplomats say.
Published 22 Apr, 2008 12:00am
Obama struggles to win white vote

Obama struggles to win white vote

Barack Obama's efforts to woo white voters in the Pennsylvania Democratic primary have been hurt by his comments on small town bitterness and his association with an outspoken pastor, some residents of Muncy Valley say.
Published 22 Apr, 2008 12:00am
Missile hits headquarters of Iraqi Council

Missile hits headquarters of Iraqi Council

A missile struck the central Baghdad headquarters of the Supreme Islamic Iraqi Council on Monday, said an official for the party, which is the main rival of cleric Moqtada al-Sadr for control of Shia areas. The official, whose party is the biggest Shi'ite
Published 22 Apr, 2008 12:00am
China launches education drive in Lhasa, warns citizens

China launches education drive in Lhasa, warns citizens

China's Communist Party has launched a political education drive in Tibet's restive capital, Lhasa, vowing a long campaign to attack pro-independence sentiment and support for the Dalai Lama. China has blamed recent unrest in Tibetan areas on a "clique" o
Published 22 Apr, 2008 12:00am
Military not meeting combat needs, says Gates

Military not meeting combat needs, says Gates

US Defence Secretary Robert Gates on Monday launched a push for more drones, complaining that the military is not moving aggressively to meet battlefield needs. In a blunt speech at the Air University at Maxwell Air Force Base in Alabama, Gates called on
Published 22 Apr, 2008 12:00am
Comstech starts training course

Comstech starts training course

The Comstech organisation has started a three-week training course on 'science, technology and innovation' to observe the international Creativity and Innovation Day. The three weeks course started at the Conmstech premises on Monday, and will end next mo
Published 22 Apr, 2008 12:00am
PIA's flight disruptions

PIA's flight disruptions

There have been innumerable disruptions in PIA's domestic flight schedules during last two weeks. Reports said that PIA has grounded 5 Boeing 737 under pressure from CAA, for checks following world-wide warnings of corrosion etc.
Published 22 Apr, 2008 12:00am
The Nizam of Hyderabad

The Nizam of Hyderabad

What more slanderous and vilifying report could be than that of Reuters release from New Delhi carried by Business Recorder (April 12) captioned out of court deal to unlock Nizam of Hyderabad's millions. The shameful part of the report is that Niza
Published 22 Apr, 2008 12:00am
Spotlight: what is in the "Package"?

Spotlight: what is in the "Package"?

Are the "package" and the "restoration of judiciary" two separate matters or are they very closely intertwined even if technically distinct? We do not know if the parliamentary resolution which is to be the coalition's agreed instrument for reinstating th
Published 22 Apr, 2008 12:00am
For Baghdad traders, safer streets but no upturn

For Baghdad traders, safer streets but no upturn

Boxes full of toasters, washing machines and freezers are stacked high in front of Hashim Nur al-Moussawi's electrical equipment emporium on the edge of the Shorja market in central Baghdad. But enter his shop and it is virtually empty, a bullet hole thro
Published 22 Apr, 2008 12:00am
Fake insurance claims

Fake insurance claims

A leading daily carried the news on April 10th, that "false insurance claims are lodged with insurance companies based on false information by the claimants. Police have found that the vehicles reported taken away and later recovered have actually been so
Published 22 Apr, 2008 12:00am
Nip it in the bud

Nip it in the bud

Thanks to our foreign policy managers, Pakistan does not have very many international friends, a predicament made worse since 9/11 because of its decision to join the US-led 'war on terror'. Long spells of military rule, loose control over its internation
Published 22 Apr, 2008 12:00am
No sympathy for Monopolies

No sympathy for Monopolies

In a rare occurrence in the history of Pakistan, an industry has been found to be indulging in monopolistic practices and brought to book accordingly. In a detailed verdict issued recently, the Pakistan Banking Association (PBA) was formally penalised for
Published 22 Apr, 2008 12:00am
Mehfile-i-Ghazal at KPC today

Mehfile-i-Ghazal at KPC today

A 'Mehfile-i-Ghazal' will be organised in connection with the golden jubilee celebrations of Karachi Press Club (KPC) on April 22 at 9pm. An announcement to this effect was made in a KPC statement on Monday. It said noted singer Munni Begum will perform o
Published 22 Apr, 2008 12:00am
Fresh polls ordered for Nazim, naib-nazim

Fresh polls ordered for Nazim, naib-nazim

The Lahore High Court (LHC) while accepting a petition has ordered to conduct fresh polls for Nazim and Naib Nazim in UC-38, T T Singh. Defeated candidates Mudassar Hussain Khan and Gulzar Ahmad had challenged the results of the election before a tribunal
Published 22 Apr, 2008 12:00am
Saddar town launches grand anti-encroachment campaign

Saddar town launches grand anti-encroachment campaign

In a grand operation carried out on the directive of Nazim Saddar Town, Mohammed Dilawar, the town's anti-encroachment staff, removed hundreds of push carts, patharas, sun sheds and cabins.
Published 22 Apr, 2008 12:00am
Italian trade team visits ID&BoI

Italian trade team visits ID&BoI

A high profile Italian delegation engaged in construction-infrastructure projects and headed by the Italian Ambassador to Islamabad visited ID&BoI in order to acquire information on investment climate and opportunities and seek joint ventures with promine
Published 22 Apr, 2008 12:00am
'Privatisation process to be transparent'

'Privatisation process to be transparent'

Federal Minister for Ports, Shipping and Privatisation Syed Naveed Qamar has maintained that the procedure of privatisation would be made transparent, while the Public Accounts Committee will make audit of the privatisation during previous regime. The min
Published 22 Apr, 2008 12:00am
Pakistan largest borrower of ADB in 2007

Pakistan largest borrower of ADB in 2007

With $2.0 billion, or 20 percent of the total loans ADB extended last year 2007, Pakistan was the largest borrower, said Asian Development Bank Annual Report 2007, released here on Monday. The ADB Annual Report 2007 said that Pakistan continued to be the
Published 22 Apr, 2008 12:00am
Raisani orders withdrawal of all cases against Mengal

Raisani orders withdrawal of all cases against Mengal

Balochistan Chief Minister Nawab Mohammad Aslam Raisani on Monday issued directive for withdrawing all the cases registered by the provincial government against BNP-M chief Sardar Akhtar Mengal, Jiye Sindh Qaumi Mahaz (JSQM) leader Dr Safdar Sirki and oth
Published 22 Apr, 2008 12:00am
'Nexus' system being launched to broaden tax-base

'Nexus' system being launched to broaden tax-base

The 'Nexus' computer system being used to broaden the tax-base has developed the capacity to automatically generate notices to the taxpayers declaring less income/turnover on the basis of data verification from external sources.
Published 22 Apr, 2008 12:00am
Karachi University holds programme to mark Earth Day

Karachi University holds programme to mark Earth Day

Karachi University held a programme to mark the Earth Day here on Monday. Vice-Chancellor of the University, Professor Dr Pirzada Qasim Raza Siddiqui, was the chief guest of the event.
Published 22 Apr, 2008 12:00am
Remedial measures to offset price hike urged

Remedial measures to offset price hike urged

Chairman Shaikh Fazl-e-Jalil, Senior Vice Chairman Razzak Hasham Paracha, Vice Chairman, Syed Ali Qandhari, Patron-in-chief, S M Muneer, former chairmen Shaikh Manzar Alam and Abdul Haseeb Khan of Korangi Association of Trade and Industry (KATI) have urge
Published 22 Apr, 2008 12:00am
Training workshop on organic farming starts

Training workshop on organic farming starts

A five-day international training workshop on "Organic farming, organic production and inspection" has started here on Monday. The event was jointly organised by the Pakistan Agricultural Research Council (Parc), Asian Productivity Organisation (APO) and
Published 22 Apr, 2008 12:00am
Expo centre to be set up in Faisalabad

Expo centre to be set up in Faisalabad

The Punjab government will set up a modern expo-centre at a cost of Rs 4 billion in Faisalabad. A master plan has been evolved for this purpose, Trade and Investment Secretary Tahir Raza Naqvi told a meeting chaired by Additional Chief Secretary and Chair
Published 22 Apr, 2008 12:00am
Labard exempted from tax

Labard exempted from tax

The government has certified the Lahore Businessmen Association for the Rehabilitation of the Disabled (Labard) as a welfare organisation and as per income tax laws all the donations extended to Labard will be exempt from any sort of tax deduction.
Published 22 Apr, 2008 12:00am
MD Tahir laid to rest

MD Tahir laid to rest

Lawyers on Monday discontinued court proceedings after 11.00 am to attend the funeral of senior bar member, M D Tahir who died a day earlier of heart failure.
Published 22 Apr, 2008 12:00am
Groundbreaking ceremony of two commercial towers held

Groundbreaking ceremony of two commercial towers held

Groundbreaking ceremonies of two commercial tower projects were held at the Defence Housing Authority here on Monday. Both the ceremonies, held at Sector-U and Sector-DD, DHA, were attended by Corps Commander Lieutenant General Shafaat Ullah Shah who was
Published 22 Apr, 2008 12:00am
'Ban on rice export may damage rural economy'

'Ban on rice export may damage rural economy'

The Basmati Growers Association, protesting rumours of ban on rice export has urged the government to stay away from interfering in the rice trade. The Association's President, Chaudhry Hamid Malhi fears that at the time of sowing of paddy such a step cou
Published 22 Apr, 2008 12:00am
'IDS helps improve education standard'

'IDS helps improve education standard'

The Punjab Education Foundation (PEF) has evaluated its foundation-assisted programmes by independent consulting firm Innovative Development Strategies (IDS), Punjab Education Foundation Managing Director Dr Allah Baksh Malik told Business Recorder </i
Published 22 Apr, 2008 12:00am
'Lawyers play vital role in strengthening democracy'

'Lawyers play vital role in strengthening democracy'

Punjab Chief Minister Sardar Dost Muhammad Khosa has said that his government would take steps for lawyers' welfare. He said this during a meeting with a delegation headed by Multan High Court Bar Secretary Sardar Balkh Sher Khosa.
Published 22 Apr, 2008 12:00am
Merger of two Punjab banks opposed

Merger of two Punjab banks opposed

Friends Union President of the Punjab Provincial Co-operative Bank Aziz Ahmad has demanded that Nawaz and Shahbaz Sharif should take steps to stop the merger of the Punjab Provincial Co-operative Bank with the Bank of Punjab to save the small farmers and
Published 22 Apr, 2008 12:00am
Passco to buy 1.4 million tonnes of wheat this year

Passco to buy 1.4 million tonnes of wheat this year

The Pakistan Agricultural Storage and Services Corporation (Passco) will buy 1.4 million tonnes of wheat in the current year under wheat procurement drive-2008 and for this purpose Rs 25 billion loan has been approved for the Corporation by the State Bank
Published 22 Apr, 2008 12:00am
Plea to bring down ex-plant price of LPG

Plea to bring down ex-plant price of LPG

The government should formulate a policy to bring down the ex-plant price of liquefied petroleum gas (LPG) to the level of Rs 30,000-32,000 per ton with a view to curtailing the retail price of Rs 30-32 kilogram and to provide relief to the end-consumer.
Published 22 Apr, 2008 12:00am
'Human rights of vulnerable strata to be protected'

'Human rights of vulnerable strata to be protected'

Senior Punjab Minister Raja Riaz Ahmad has said that public welfare and supremacy of law are in his government's policies. He told various groups, the Pakistan People's Party workers and MPAs in his office on Monday, that "The real meaning of democracy is
Published 22 Apr, 2008 12:00am
'Minorities be given right to choose their representatives'

'Minorities be given right to choose their representatives'

Former Federal Minister, J Salik, has said that minorities should be given right to choose their representatives and it is not the right of any group or party to nominate representatives for minorities. He gave his comments on phone during a press confere
Published 22 Apr, 2008 12:00am
LDA directs quick restoration of drainage system

LDA directs quick restoration of drainage system

The Director General (DG) Lahore Development Authority (LDA), Irfan Ali has directed for immediate steps for restoration of the drainage system on Sehr Road and Shahbaz Road, Factory Area Mehmood Booti in the city.
Published 22 Apr, 2008 12:00am
3,300 bags flour, wheat smuggling bid foiled

3,300 bags flour, wheat smuggling bid foiled

As per instructions of Punjab Chief Minister, Sardar Dost Muhammad Khan Khosa, District Co-ordination Officer Muzaffargarh, Dr Akhtar Nazir Warraich, has launched a vigorous drive against smugglers, hoarders and profiteers to ensure smooth supply of flour
Published 22 Apr, 2008 12:00am
Magsi puts food officials on toes to check wheat movement

Magsi puts food officials on toes to check wheat movement

Provincial Food Minister Nawabzada Mir Nadir Ali Magsi, has said the government machinery is working round-the-clock to check smuggling of wheat and he was being kept informed about the same. He announced that wheat procurement target will soon be attaine
Published 22 Apr, 2008 12:00am
PFMA urges government to lift ban on wheat movement

PFMA urges government to lift ban on wheat movement

Pakistan Flour Mills Association (PFMA), Vice Chairman, Mohammad Arif Jummani said on Monday that flourmills will be forced to shut down operations in next two days if wheat supply is not restored. He said that the Food Department has stopped wheat supply
Published 22 Apr, 2008 12:00am
Three injured in building collapse

Three injured in building collapse

Three people injured when a portion of a century-old building in Boltan Market in the jurisdiction of Kharadar police station collapsed here on Monday evening. Police said that a portion of Lashmee building's top floor collapsed, wherein three persons: Fa
Published 22 Apr, 2008 12:00am
PPP workers meet Sindh chief minister

PPP workers meet Sindh chief minister

Sindh Chief Minister Syed Qaim Ali Shah has said that PPP is the party of the masses and its workers are its soul because the party's founder Shaheed Z A Bhutto and Quaid-e-Jamhooriat Shaheed Benazir Bhutto always gave importance to workers' sacrifices an
Published 22 Apr, 2008 12:00am
3,000 KESC consumers not paying monthly bills

3,000 KESC consumers not paying monthly bills

The Karachi Electric Supply Company (KESC) is not receiving the payment of monthly electricity bills from its 3,000 residential and commercial consumers. According to a report of KESC obtained by Business Recorder on Monday, these consumers were no
Published 22 Apr, 2008 12:00am
'Ban on rice export to stoke food inflation'

'Ban on rice export to stoke food inflation'

Imposition of a ban on rice export or levy of export duty will only whip up food inflation in real terms as the main causes of rice price spiral are smugglers and hoarders, a leading rice exporter said.
Published 22 Apr, 2008 12:00am
MQM Hyderabad zone condemns Landhi incident

MQM Hyderabad zone condemns Landhi incident

The MQM Hyderabad zone in-charge and members zonal committee has condemned the act occurred in Landhi in which MQM workers has lost their lives. They said that the killing of MQM workers become routine and from these incidents the forces want to destroy t
Published 22 Apr, 2008 12:00am
Burson-Marsteller establishes South Asia network

Burson-Marsteller establishes South Asia network

Burson-Marsteller, a leading global public relations and communications firm, on Monday announced formation of a 'Burson-Marsteller South Asia Network (BMSAN)' with the signing of strategic alliances with independent public relations companies across Paki
Published 22 Apr, 2008 12:00am
Steps to minimise tax collection shortfall: FBR conference from April 24

Steps to minimise tax collection shortfall: FBR conference from April 24

The Chairman of Federal Board of Revenue (FBR), Abdullah Yousuf, has called upon the entire taxation machinery at Islamabad to discuss the issue relating to levies' shortfall in collection, which is likely to be over 6 percent by the end of last quarter o
Published 22 Apr, 2008 12:00am
'Pakistan can increase its exports to India through Sri Lanka'

'Pakistan can increase its exports to India through Sri Lanka'

Pakistan has good opportunity to increase its export to India through Sri Lanka by exploiting the Free Trade Agreement (FTA) between Sri Lanka and India, said Consul General of Sri Lanka, V.S. Sidath Kumar here on Monday.
Published 22 Apr, 2008 12:00am
KW&SB recovers Rs 10.7 million dues

KW&SB recovers Rs 10.7 million dues

Out of total Rs 131.13 million dues, pending against 314 industrial units, the Karachi Water and Sewerage Board has only recovered Rs 10.7 million during its ongoing campaign.
Published 22 Apr, 2008 12:00am
Birds posing danger to aircraft

Birds posing danger to aircraft

The aircraft landing and taking off at Karachi, Lahore and Islamabad airports face the danger of getting hit by the birds flying freely around these airports. According to a Civil Aviation authority (CAA) press release the number of birds hovering around
Published 22 Apr, 2008 12:00am
Shaukat blamed for 50 percent Punjab hosiery units closure

Shaukat blamed for 50 percent Punjab hosiery units closure

The hosiery manufacturers have alleged that former Prime Minister Shaukat Aziz has been responsible for the present energy crisis, bringing around 50 percent industrial units to complete closure--in Punjab alone.
Published 22 Apr, 2008 12:00am
Sterling slides

Sterling slides

Sterling fell 1.5 percent against the euro on Monday as soft UK house price data reinforced jitters about the health of the economy and a Bank of England plan to ease credit market strain failed to impress.
Published 22 Apr, 2008 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The dollar fell broadly on Monday after softer than expected Bank of America profits damped investors' initial optimism that companies may escape the pinch of an ongoing crisis in global credit markets. Bank of America Corp, the No 2 US bank, reported a f
Published 22 Apr, 2008 12:00am
Indian rupee dips

Indian rupee dips

The Indian rupee fell on Monday from a three-week high struck in early trade, after suspected central bank intervention and dollar buying by oil firms, dealers said. The partially convertible rupee ended at 39.975/98 per dollar, off an intra-day high of 3
Published 22 Apr, 2008 12:00am
Credit spreads snap week-long rally

Credit spreads snap week-long rally

European credit spreads widened on Monday, halting a week-long sharp rally, after Bank of America Corp revealed a bigger-than-expected drop in quarterly profits. By 1535 GMT, the Markit investment-grade iTraxx Europe index was at 86.5 basis points, accord
Published 22 Apr, 2008 12:00am
Credit spreads snap week-long rally

Credit spreads snap week-long rally

European credit spreads widened on Monday, halting a week-long sharp rally, after Bank of America Corp revealed a bigger-than-expected drop in quarterly profits. By 1535 GMT, the Markit investment-grade iTraxx Europe index was at 86.5 basis points, accord
Published 22 Apr, 2008 12:00am
Asian bonds rise

Asian bonds rise

Asian bonds rose on Monday after a sharp rally in global equity markets, while the response to a primary debt offering from Chinese firm Nine Dragons was closely watched as a guage of risk appetite.
Published 22 Apr, 2008 12:00am
Asian bonds rise

Asian bonds rise

Asian bonds rose on Monday after a sharp rally in global equity markets, while the response to a primary debt offering from Chinese firm Nine Dragons was closely watched as a guage of risk appetite.
Published 22 Apr, 2008 12:00am
Britain's top share index flat

Britain's top share index flat

Britain's top share index ended flat on Monday as plans by Royal Bank of Scotland for a rights issue and poor results from Bank of America led banks lower, offsetting gains in commodity shares. The FTSE 100 closed down 3.5 points, or 0.06 percent, at 6,05
Published 22 Apr, 2008 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures settled lower on Monday on investment fund selling as weakness in other commodity markets kept fibre contracts on the defensive, brokers said. The ICE Futures' May cotton contract dove 1.45 cents to close at 69.43 cents per lb, trading from
Published 22 Apr, 2008 12:00am
The Weather

The Weather

The weather report on Monday (April 21, 2008) and the forecast for Tuesday (April 22, 2008).
Published 22 Apr, 2008 12:00am
London sugar and coffee plummet

London sugar and coffee plummet

London white sugar futures fell sharply on Monday, weakened by fund and investor profit-taking after the market's recent run-up, dealers said. Robusta coffee futures also finished lower while cocoa ended higher but well below an earlier one-month peak.
Published 22 Apr, 2008 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 22 Apr, 2008 12:00am
Copper slips

Copper slips

Copper prices softened on Monday as the market fretted about Chinese demand, but analysts expect prices to be underpinned by a strike in Chile and falling stocks. Tin for delivery in three months on the London Metal Exchange hit an all-time high of $21,94
Published 22 Apr, 2008 12:00am
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