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Print - 2008-05-28
Thrifts set aside $7.6 billion for losses in first quarter

Thrifts set aside $7.6 billion for losses in first quarter

The US savings and loan industry reported record loan loss provisions totalling $7.6 billion for the first quarter of 2008 due to the deteriorating American housing market, up from $5.5 billion for the fourth quarter of 2007, the Office of Thrift Supervis
Published 28 May, 2008 12:00am
US single-family home prices tumble, consumer confidence at 16-year low

US single-family home prices tumble, consumer confidence at 16-year low

Prices of US single-family homes plunged a record 14.1 percent in the first quarter from a year earlier, marking a pace five times faster than the last housing recession, data showed on Tuesday. The Standard & Poor's/Case Shiller composite index of 20 met
Published 28 May, 2008 12:00am
US recession still probable: Greenspan

US recession still probable: Greenspan

A recession in the United States remains a probability, former Federal Reserve chairman Alan Greenspan said in an interview published Tuesday.Speaking to the Financial Times from Washington, Greenspan said he believed "there is a greater than 50 percent p
Published 28 May, 2008 12:00am
Berlin Air Show opens with India as guest of honour

Berlin Air Show opens with India as guest of honour

The Berlin Air Show got off the ground Tuesday with India as guest of honour owing to the country's soaring demand for planes and related products and services. The biannual show, the third biggest in Europe after those in Britain and France, was expected
Published 28 May, 2008 12:00am
Asia central banks prop up currencies over inflation worries

Asia central banks prop up currencies over inflation worries

Asian central banks moved to prop up falling currencies on Tuesday to help prevent surging oil prices from stoking inflation in economies bracing for a global slowdown. Central banks in Indonesia, the Philippines, South Korea and Taiwan were spotted selli
Published 28 May, 2008 12:00am
Sarkozy seeks to reassure disgruntled French

Sarkozy seeks to reassure disgruntled French

President Nicolas Sarkozy, looking to rebuild his shattered popularity ratings, promised on Tuesday to preserve France's 35-hour work week and cushion the impact of soaring energy costs for the hardest hit. In a dawn media blitz, Sarkozy visited France's
Published 28 May, 2008 12:00am
WTO members tussle over industry proposals

WTO members tussle over industry proposals

Rich and poor countries clashed on Tuesday about whether new proposals to free up trade in industrial goods did enough to open markets or help developing countries. A meeting of World Trade Organisation (WTO) members to review the proposals showed poor co
Published 28 May, 2008 12:00am
IMF appoints chief economist

IMF appoints chief economist

The International Monetary Fund said on Tuesday that Olivier Blanchard would become its chief economist as of September 1, replacing Simon Johnson, who announced his resignation this month. Blanchard is an economics professor at the Massachusetts Institut
Published 28 May, 2008 12:00am
Japanese government in more strife over BoJ board

Japanese government in more strife over BoJ board

Government plans to fill a vacancy on the Bank of Japan's rate-setting policy board were thrown into disarray on Tuesday when a nominee's name was leaked, prompting opposition lawmakers to reject him.
Published 28 May, 2008 12:00am
Bank of America to buy $1.9 billion China bank shares

Bank of America to buy $1.9 billion China bank shares

Bank of America Corp, said on Tuesday that it would exercise part of its option to buy shares of China Construction Bank, investing HK$14.52 billion (US $1.86 billion) and raising its stake in China's second-largest bank to 10.75 percent.
Published 28 May, 2008 12:00am
Indonesian shares lower

Indonesian shares lower

Indonesian shares closed 0.9 percent lower on Tuesday as most stocks reversed course and gave up early gains ahead of the release of inflation figures for May, dealers said. The Jakarta composite index closed down 22.73 points or 0.9 percent at 2,397.0, o
Published 28 May, 2008 12:00am
Euro zone government bond yields slip

Euro zone government bond yields slip

Euro zone government bond yields and implied interest rates slipped on Tuesday, as traders used the latest overnight loan facility figures from the European Central Bank as a trigger to cover short positions built up earlier on the back of growing inflati
Published 28 May, 2008 12:00am
Euro zone government bond yields slip

Euro zone government bond yields slip

Euro zone government bond yields and implied interest rates slipped on Tuesday, as traders used the latest overnight loan facility figures from the European Central Bank as a trigger to cover short positions built up earlier on the back of growing inflati
Published 28 May, 2008 12:00am
Hong Kong stocks rise

Hong Kong stocks rise

Hong Kong stocks rose 0.6 percent on Tuesday, tracking firmer regional markets, with Sun Hung Kai Properties gaining as the board held a meeting centred on a family feud that has hurt the company's share price.
Published 28 May, 2008 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended up 0.81 percent on Tuesday, rallying from a six-week closing low in the previous session, led by tourism shares such as Grand Formosa Regent on hopes for better ties with China. The main TAIEX share index climbed 70.56 points to 8,778.
Published 28 May, 2008 12:00am
Philippines shares gain

Philippines shares gain

Philippines share prices closed 0.5 percent higher on Tuesday on last-minute buying but volumes remained thin amid anxiety over high crude oil prices and inflationary pressure, dealers said. Investors were also reluctant to take fresh positions while wait
Published 28 May, 2008 12:00am
Singapore shares higher

Singapore shares higher

Singapore share prices closed 0.39 percent higher Tuesday as investors sought out blue chip bargains after the market fell in the previous five sessions, dealers said. However, volumes remained light amid inflation and economic concerns, they said.
Published 28 May, 2008 12:00am
Indian shares fall fourth day

Indian shares fall fourth day

Indian shares fell 0.5 percent on Tuesday to their lowest close in nearly six weeks, but Reliance Communications rose on hopes the mobile operator would not overpay for a deal with South Africa's MTN. Traders said the market lacked conviction after rising
Published 28 May, 2008 12:00am
Thai share prices easier

Thai share prices easier

Thai share prices closed 0.14 percent lower on Tuesday, reflecting investor concerns about the political situation in the kingdom after anti-government protests, dealers said. They said investors also dumped their shares in the energy sector due to worrie
Published 28 May, 2008 12:00am
JGBs retreat on Nikkei gains

JGBs retreat on Nikkei gains

Japanese government bonds pulled back on Tuesday, pushing benchmark yields to a nine-month high, as solid gains in Tokyo shares spurred more investors to sell bonds and cut their exposure to the market. Traders said big Japanese banks continued to shed fi
Published 28 May, 2008 12:00am
JGBs retreat on Nikkei gains

JGBs retreat on Nikkei gains

Japanese government bonds pulled back on Tuesday, pushing benchmark yields to a nine-month high, as solid gains in Tokyo shares spurred more investors to sell bonds and cut their exposure to the market. Traders said big Japanese banks continued to shed fi
Published 28 May, 2008 12:00am
China bond yields up

China bond yields up

China's bond yields mostly rose on Tuesday after central bank chief Zhou Xiaochuan said that although monetary authorities would aid reconstruction after this month's earthquake, policy must continue to fight inflation.
Published 28 May, 2008 12:00am
China bond yields up

China bond yields up

China's bond yields mostly rose on Tuesday after central bank chief Zhou Xiaochuan said that although monetary authorities would aid reconstruction after this month's earthquake, policy must continue to fight inflation.
Published 28 May, 2008 12:00am
Most China stocks up

Most China stocks up

Most Chinese stocks closed higher on Tuesday as financials rebounded moderately, but turnover was tiny and the main index was dampened by Sinopec, which continued sliding on concern about high global oil prices. The benchmark Shanghai Composite Index, whi
Published 28 May, 2008 12:00am
Nikkei rebounds as Canon and banks gain

Nikkei rebounds as Canon and banks gain

Japan's Nikkei average rose 1.5 percent on Tuesday, rebounding from a two-week closing low hit the previous day, with stocks that had fallen sharply such as Canon Inc and banks regaining ground. Major paper firms surged, with Mitsubishi Paper Mills Ltd ju
Published 28 May, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 68.55/68.56 (previous 68.55/68.57). Call Money Rates: 6.00-12.00 percent (previous 7.00-12.00 percent.
Published 28 May, 2008 12:00am
Yuan slides in spot

Yuan slides in spot

The yuan fell sharply against the dollar in the spot and offshore forwards markets on Tuesday after a big jump in China's foreign exchange reserves indicated heavy flows of speculative money into the country.
Published 28 May, 2008 12:00am
Canadian dollar flat

Canadian dollar flat

The Canadian dollar was little changed versus the US dollar on Monday and was expected to remain in a tight range for the whole session, with US and UK markets closed for holidays. Domestic bond prices, with no domestic data to consider and with the US bo
Published 28 May, 2008 12:00am
Dollar edges towards one-month lows

Dollar edges towards one-month lows

The dollar inched back towards one-month lows against a basket of currencies on Tuesday, as oil prices near record highs fed concerns about the deteriorating US economy. Activity is expected to pick up later in the session as investors return from long we
Published 28 May, 2008 12:00am
Asian currencies dip on oil jitters

Asian currencies dip on oil jitters

Asian currencies slipped on Tuesday as investors fretted about the fallout from lofty oil prices, forcing several central banks to step into the market to prop up their battered currencies. The Philippine peso briefly fell to 43.73 per dollar, down about
Published 28 May, 2008 12:00am
Internet sports betting becomes criminal domain

Internet sports betting becomes criminal domain

The rapidly mushrooming number of illegal sports betting websites is heightening concerns among authorities about global corruption, money laundering and gambling addiction. There are now an estimated 15,000 such sites on the World Wide Web, including som
Published 28 May, 2008 12:00am
Bangladesh name Dollar Mahmud for ODI series

Bangladesh name Dollar Mahmud for ODI series

Bangladesh named uncapped pace bowler Dollar Mahmud on Tuesday in a 14-man squad for next month's one-day international series with India and Pakistan. Bangladesh also recalled wicketkeeper Mushfiqur Rahim and batsman Mehrab Hossain jnr for the Tri-Nation
Published 28 May, 2008 12:00am
Rain halts French Open

Rain halts French Open

Rain brought action on the third day of the French Open at Roland Garros to a halt at 1518 local time (1318GMT) on Tuesday after earlier downpours had already caused a delay of almost three hours. When the rain arrived, only Russian duo Svetlana Kuznetsov
Published 28 May, 2008 12:00am
FIFA moves Club World Cup to UAE from Japan

FIFA moves Club World Cup to UAE from Japan

The United Arab Emirates has won the right to host FIFA's World Club Cup in 2009 and 2010 after beating off rival bids from Japan and Australia. FIFA's executive board agreed to move the tournament, which features the champions of each of the continental
Published 28 May, 2008 12:00am
Terry to lead England against United States

Terry to lead England against United States

John Terry has been restored as England captain for Wednesday's friendly against the United States at Wembley. England coach Fabio Capello confirmed Terry will lead the team for the first time since the Italian took charge. Rio Ferdinand captained England
Published 28 May, 2008 12:00am
Sacked Grant turned down director of football role

Sacked Grant turned down director of football role

Avram Grant revealed he turned down the chance to return to his role as Chelsea's director of football before being sacked by the Premier League club. Grant was dismissed as manager by Blues owner Roman Abramovich last Saturday after Chelsea finished the
Published 28 May, 2008 12:00am
Ponting proud of last day Aussie fightback

Ponting proud of last day Aussie fightback

Australia captain Ricky Ponting believes it was gratifying to see his side fight back and conquer West Indies in the opening Test on Monday at Sabina Park. A rare batting collapse in their second innings saw Australia set West Indies 287 for victory, but
Published 28 May, 2008 12:00am
Premier League's global expansion still on the agenda

Premier League's global expansion still on the agenda

English Premier League plans for a 39th round of fixtures to be played across the world are back on the agenda according to Everton chief executive Keith Wyness. The scheme met with widespread opposition when it was first mooted earlier this year. The glo
Published 28 May, 2008 12:00am
Kahn makes final appearance

Kahn makes final appearance

Some 100,000 Indians came together to bid legendary German goalkeeper Oliver Kahn a fond farewell when he began his last match as a professional for Bayern Munich on Tuesday. Fans in this football-mad city packed the Salt Lake stadium to watch Kahn's Bund
Published 28 May, 2008 12:00am
Tsvangirai says 50 killed in poll violence

Tsvangirai says 50 killed in poll violence

More than 50 people have been killed in political violence since Zimbabwe's disputed March 29 elections and 25,000 have fled their homes, opposition leader Morgan Tsvangirai said on Tuesday. Official figures showed Tsvangirai beat President Robert Mugabe
Published 28 May, 2008 12:00am
China urges progress in North Korea talks

China urges progress in North Korea talks

China urged all sides trying to rein in communist North Korea's nuclear weapons programme on Tuesday to engage fully to achieve results sooner rather than later. US Assistant Secretary of State Christopher Hill will hold talks in Beijing on Wednesday with
Published 28 May, 2008 12:00am
Nepali government warns king he must leave palace

Nepali government warns king he must leave palace

The Nepali government warned on Tuesday that it could use force to throw unpopular King Gyanendra out of the royal palace if he refuses to leave voluntarily after the 239-year-old monarchy is abolished. A special assembly elected in April is scheduled to
Published 28 May, 2008 12:00am
Georgia demands Russian apology over spy plane

Georgia demands Russian apology over spy plane

Georgia demanded on Tuesday that Russia apologise after a UN report said a Russian air force jet had shot down a Georgian spy plane last month, but Moscow said it did not trust the report's conclusions. "Georgia protests and demands from Russia an apology
Published 28 May, 2008 12:00am
New aftershocks bring terror to quake-hit China

New aftershocks bring terror to quake-hit China

New aftershocks toppled 420,000 houses and injured dozens in south-west China on Tuesday, heaping destruction and fear on a region struggling to recover from the country's worst earthquake in decades. The houses collapsed when a 5.4 magnitude aftershock r
Published 28 May, 2008 12:00am
Myanmar junta extends Suu Kyi arrest

Myanmar junta extends Suu Kyi arrest

Myanmar's junta extended the house arrest of opposition leader Aung San Suu Kyi on Tuesday, a move that dismayed some of the Western nations who promised millions of dollars in aid after Cyclone Nargis. Officials drove to the Nobel laureate's lakeside Yan
Published 28 May, 2008 12:00am
Film director Sydney Pollack dies

Film director Sydney Pollack dies

Hollywood filmmaker Sydney Pollack, who won a pair of Academy Awards for the epic romance "Out of Africa" and earned praise for acting stints in films including "Tootsie" and "Michael Clayton," died on Monday after a battle with cancer, his spokeswoman sa
Published 28 May, 2008 12:00am
Need to pressure Iran more on nuclear issue: Germany

Need to pressure Iran more on nuclear issue: Germany

The UN nuclear watchdog's report on Iran this week showed the international community must push for a faster response from Tehran over its nuclear programme, Germany said on Tuesday. The five permanent UN Security Council members plus Germany are offering
Published 28 May, 2008 12:00am
Taiwan edges closer to China with one nation talk

Taiwan edges closer to China with one nation talk

China and Taiwan edged closer to a resumption of fence-mending talks on Tuesday when the chairman of the island's ruling party echoed the Chinese line that both sides are part of a single nation.
Published 28 May, 2008 12:00am
Iran assembly moderates seen criticising president

Iran assembly moderates seen criticising president

Iran's new parliament sat for the first time on Tuesday with an overwhelming moderate conservative majority expected to be more critical of hard-line President Mahmoud Ahmadinejad's foreign and economic policies.
Published 28 May, 2008 12:00am
Pentagon inviting media to Guantanamo 9/11 hearings

Pentagon inviting media to Guantanamo 9/11 hearings

The Pentagon said Tuesday it was sending invitations to news organisations to cover the arraignments of the five alleged September 11 co-conspirators in Guantanamo Bay, Cuba. Pentagon spokesman Bryan Whitman said about "four or five dozen" journalists and
Published 28 May, 2008 12:00am
Key witness testifies in Olmert bribery case

Key witness testifies in Olmert bribery case

A US businessman at the centre of a bribery case against Prime Minister Ehud Olmert testified on Tuesday he gave the Israeli leader cash-stuffed envelopes including personal loans that were never repaid.
Published 28 May, 2008 12:00am
Indian military veterans state protest

Indian military veterans state protest

India's military veterans staged protests nation-wide on Tuesday to press for higher wages for defence personnel and warned the unrest could spill over into the serving ranks if New Delhi fails to act. Ex-generals and retired soldiers staged a token day-l
Published 28 May, 2008 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Tuesday as near record oil prices pushed up dollar demand from oil refiners and importers, raising the risk of widening the trade deficit. The partially convertible rupee ended at 42.96/97 per dollar, 0.54 percent weaker than
Published 28 May, 2008 12:00am
Sterling eases

Sterling eases

Sterling eased against the dollar on Tuesday, with investors fretting about the toxic mix of surging inflation and slowing growth that has tied the Bank of England's hands in terms of monetary policy. Adding to glum sentiment on the UK economy, a Hometrac
Published 28 May, 2008 12:00am
Early New York trade: dollar rises broadly

Early New York trade: dollar rises broadly

The dollar rose broadly on Tuesday after a report showed an unexpected rise in US new-home sales in April, while data out of Europe raised concerns over the health of the eurozone economy. Demand for the European currency started to dim on news French bus
Published 28 May, 2008 12:00am
Euro dips in London

Euro dips in London

The euro dived nearly a full US cent from earlier one-month highs on Tuesday, after softer-than- expected German and French sentiment data cast a shadow over the health of the euro zone economy and made rate hikes less likely.
Published 28 May, 2008 12:00am
European spreads little changed

European spreads little changed

European credit spreads were little changed on Tuesday after widening in initial response to weak US home price data and then recovering on the realisation that the figures had come in as forecast. By 1609 GMT the Markit iTraxx Crossover index, made up of
Published 28 May, 2008 12:00am
European spreads little changed

European spreads little changed

European credit spreads were little changed on Tuesday after widening in initial response to weak US home price data and then recovering on the realisation that the figures had come in as forecast. By 1609 GMT the Markit iTraxx Crossover index, made up of
Published 28 May, 2008 12:00am
Tuesday's mid-afternoon trade: lower oil lifts technology shares

Tuesday's mid-afternoon trade: lower oil lifts technology shares

US stocks rose on Tuesday, led by technology companies such as Apple Inc, as investors bet that a sharp drop in crude oil prices will help shore up consumer and business spending on tech gear. A 2.6 percent drop in oil prices was a welcome development aft
Published 28 May, 2008 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian sovereign and corporate bond spreads continued to widen on Tuesday as high oil prices reinforced concerns about rising inflation at a time of slowing global economic growth. Investors were also cautious amid expectations credit markets in London and
Published 28 May, 2008 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian sovereign and corporate bond spreads continued to widen on Tuesday as high oil prices reinforced concerns about rising inflation at a time of slowing global economic growth. Investors were also cautious amid expectations credit markets in London and
Published 28 May, 2008 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.1 percent higher Tuesday as bargain-hunting ended a five-day losing streak, dealers said.The Kuala Lumpur Composite Index edged down 0.87 points to 1,274.24.
Published 28 May, 2008 12:00am
UK's top share index dips

UK's top share index dips

Britain's blue chip index ended down 0.5 percent on Tuesday as falling US crude weighed on oil shares, while SABMiller rose on reports that Belgian rival Inbev was eyeing the brewer. The FTSE 100 fell 28.8 points to 6,058.5, in thin trading following the
Published 28 May, 2008 12:00am
New York cotton futures plummet

New York cotton futures plummet

Cotton futures crumbled from investor fund sales to finish sharply lower on Tuesday and fibre contracts may sink further on follow-through pressure in the days ahead, brokers said. The market was shut Monday for a holiday.
Published 28 May, 2008 12:00am
London gold declines

London gold declines

Spot gold fell more than 2 percent on Tuesday to the lowest level in a week on a stronger dollar and a sharp decline in oil prices. Spot gold dropped as low as $903.50 an ounce and was trading at $905.40/906.40 at 1406 GMT, down from $925.20/926.60 in New
Published 28 May, 2008 12:00am
London coffee and sugar down

London coffee and sugar down

Robusta coffee and white sugar ended lower on Tuesday, giving up early gains as oil reversed trend, but fund buying and weaker sterling pushed up cocoa. Benchmark July coffee closed $10 a tonne lower at $2,232 after trading as high as $2,274 in volume of
Published 28 May, 2008 12:00am
London nickel slips over five percent

London nickel slips over five percent

Industrial metal nickel fell over 5 percent on the London Metal Exchange on Tuesday as investors worried about slowing demand for stainless steel, its main consuming market. Nickel for delivery in three months touched a low of $22,800 per tonne, down 5.4
Published 28 May, 2008 12:00am
Oil drops on dollar gains

Oil drops on dollar gains

Oil fell $4 to $128 a barrel on Tuesday, pulled down by the stronger US dollar and concerns moves to cut Asian fuel subsidies could hurt demand growth. US crude traded down $4.01 to $128.18 a barrel in late post settlement trade, after settling down $3.34
Published 28 May, 2008 12:00am
US MIDDAY: coffee and cocoa firm

US MIDDAY: coffee and cocoa firm

Arabica coffee futures on ICE Futures US were up slightly in early trade Tuesday, and cocoa mirrored the rise in London prices as US traders returned from a long holiday weekend, traders said. July arabica contract was up 0.40 cent at $1.344 per lb at 9:0
Published 28 May, 2008 12:00am
US MIDDAY: sugar steadies

US MIDDAY: sugar steadies

Raw sugar futures on ICE Futures US at EDT 1246 GMT. July contract up 0.01 cent at 10.02 cents per lb. Range from 9.98 to 10.22 cents. July contract volume at 9,651 lots.
Published 28 May, 2008 12:00am
US MIDDAY: wheat rises

US MIDDAY: wheat rises

July wheat was up 4 cents at $7.56-1/2 per bushel. Dry weather in eastern Australia lifts values. Australia's eastern wheat regions, which normally account for 30 percent of the country's crop, are unlikely to get sufficient rainfall in the next week to t
Published 28 May, 2008 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

July corn was down 2-1/2 cents at $5.97-1/4 per bushel, new-crop December down 2 cents at $6.25-1/4. Pressured by the retreat in crude oil. Outlooks for a warm-up in the US Corn Belt late this week also bearish.
Published 28 May, 2008 12:00am
US MIDDAY: soyabeans lower

US MIDDAY: soyabeans lower

July soyabean futures were down 6 cents at $13.62 per bushel, new-crop November up 1/4 at $13.53-3/4. Choppy; trade vacillates between pressure from the sell-off in crude oil and support from ongoing farm labour strife in Argentina.
Published 28 May, 2008 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

US copper futures fell before steadying at lower levels early Tuesday as a stronger tone in the dollar was seen exerting downward pressure across the broader metals complex, brokers said. Copper for July delivery was down 2.95 cents at $3.7065 per lb by 1
Published 28 May, 2008 12:00am
US MIDDAY: gold plummets

US MIDDAY: gold plummets

New York gold futures dropped 2 percent in high-volume trade on Tuesday but held above $900 an ounce as sharp oil losses and a stronger dollar prompted heavy liquidation in bullion. The June gold contract on Comex division of New York Mercantile Exchange
Published 28 May, 2008 12:00am
Nazim briefs US Senator on Karachi uplift

Nazim briefs US Senator on Karachi uplift

Senator Robert Casey, a member of US Senate Foreign Affairs Committee, accompanied by Principal Advisor for Foreign Affairs Jofi Joseph and US Consul General at Karachi, Kay L. Anske, met City Nazim Syed Mustafa Kamal here on Tuesday.
Published 28 May, 2008 12:00am
Eden Developers Sukuk assigned 'A-' rating

Eden Developers Sukuk assigned 'A-' rating

The Pakistan Credit Rating Agency (Pacra) has assigned (Single A Minus) rating to Rs 200 million Sukuk of' Eden Developers (Pvt) Limited (EDPL). This rating denotes a low expectation of credit risk emanating from strong capacity for timely payment of fina
Published 28 May, 2008 12:00am
Eden Developers Sukuk assigned 'A-' rating

Eden Developers Sukuk assigned 'A-' rating

The Pakistan Credit Rating Agency (Pacra) has assigned (Single A Minus) rating to Rs 200 million Sukuk of' Eden Developers (Pvt) Limited (EDPL). This rating denotes a low expectation of credit risk emanating from strong capacity for timely payment of fina
Published 28 May, 2008 12:00am
Country to have Euro-2 standards for vehicles by 2009

Country to have Euro-2 standards for vehicles by 2009

The Environment Ministry has planned to introduce Euro-2 standards for vehicles in the country to make the environment cleaner and people-friendly. Sources at the Ministry said on Tuesday that petrol vehicles in the country would start observing these sta
Published 28 May, 2008 12:00am
Maximum relief to be provided to masses in budget: Wattoo

Maximum relief to be provided to masses in budget: Wattoo

Advisor to Prime Minister on Industries and Production Mian Manzoor Ahmad Wattoo has said various initiatives were being taken by the present government for raising living standard of the people, adding that in coming budget maximum possible relief will b
Published 28 May, 2008 12:00am
Trakker direct insurance appoints new chief executive

Trakker direct insurance appoints new chief executive

Trakker Group is pleased to announce the appointment of Mr Iqbal Siddiqi as Chief Executive Officer of Trakker Direct Insurance. Mr Siddiqi has rich experience of working for leading insurance companies in Pakistan as well as abroad. Prior to joining TDI
Published 28 May, 2008 12:00am
Residential plots

Residential plots

Please refer to the letter of Abdul Mateen published in your newspaper on 20th May 2008 regarding misuse of residential plots. This is despite the warning to all co-operative housing societies in Karachi not to use residential plots for other purposes wit
Published 28 May, 2008 12:00am
Has anything changed?

Has anything changed?

Has anything changed? The answer to this oft repeated critical question in the aftermath of recently held elections is both. 'Yes' and 'No' Yes, the PML-Q has lost its lack-lustre and power due to its anti-common man policies and indifference to the burni
Published 28 May, 2008 12:00am
Time demands action

Time demands action

European Union has been better able to absorb the oil shock, because of the rising value of euro vs. the US dollar, which cushions the abrupt rise in dollar-denominated oil prices. But economies linked to USD like PKR are hit thrice over - their own weakn
Published 28 May, 2008 12:00am
'Elation of ideas' at philosophy festival

'Elation of ideas' at philosophy festival

Germany kicks off this Thursday its first philosophy festival where the idea is to bring lots of weighty topics out from cosy academe to be discussed in the real world. In the northern city of Hanover, big names will come out of the ivory tower and take p
Published 28 May, 2008 12:00am
Good Morning: losing an hour, and missing a jovial friend

Good Morning: losing an hour, and missing a jovial friend

That there is an energy crisis in the country is obvious, harsh reality - and even if urgent, emergency measures are taken today it will take a couple of years, hopefully, before the challenge is adequately met. When will the country be self-sufficient in
Published 28 May, 2008 12:00am
Can Pakistan come out of persistent trade deficit?

Can Pakistan come out of persistent trade deficit?

WTO, despite its dictum on multinational trade discipline, has made provision for preferential and differential treatment in trade to accommodate developing countries to enable them to come at level playing field with industrially rich countries in global
Published 28 May, 2008 12:00am
The Nato warning

The Nato warning

As the US spy planes violated Pakistan's airspace on Sunday, a spokesman of the Afghanistan-based Nato forces warned Islamabad against stitching up peace deals with the tribal militants. "We have a right to question if these agreements put our troops and
Published 28 May, 2008 12:00am
Price freeze not feasible economically

Price freeze not feasible economically

Reports have been surfacing recently alleging that the Government is seriously considering freezing the prices of essential commodities as well as electricity charges in the budget. There is little doubt that such stories fuel expectations within the gene
Published 28 May, 2008 12:00am
PFMA demands uniform food policy to end flour crisis

PFMA demands uniform food policy to end flour crisis

The Chairman of Pakistan Flour Mills Association (PFMA), Mohammad Naeem Butt, on Tuesday termed separate food policies by the provinces main cause of wheat crisis and widespread disparity of flour rates in different parts of the country. The ban on transp
Published 28 May, 2008 12:00am
Four pronged strategy for dealing with militancy: CJCSC

Four pronged strategy for dealing with militancy: CJCSC

Chairman Joint Chiefs of Staff Committee (CJCSC) General Tariq Majid has said that threat of terrorism and violent extremism are serious challenge to us as a nation therefore, it figures out most prominently in our security calculus today.
Published 28 May, 2008 12:00am
Workshop on role of medicinal plants held

Workshop on role of medicinal plants held

More than 80 percent of total population of the world is using herbal medicines whereas 425 million people have been visiting ethno-practitioners globally.
Published 28 May, 2008 12:00am
'Doctors should treat patients with a holistic approach'

'Doctors should treat patients with a holistic approach'

The department-wise division of hospitals, especially in the public sector, is a bureaucratic system of patient care. It serves an administrative convenience but has failed to impart effective care to the patient as a whole.
Published 28 May, 2008 12:00am
Practical steps needed for women rights' protection: minister

Practical steps needed for women rights' protection: minister

Sindh Minister for Women Development, Ms Tauqir Fatima Bhutto said Sunday that the government will soon present a bill before the Assembly to enact laws for prevention of domestic violence against womenfolk. Ms Tauqir Fatima said women would also be given
Published 28 May, 2008 12:00am
World Bank inaugurates RGC set up by PPAF

World Bank inaugurates RGC set up by PPAF

The Regional Vice President, South Asia, of The World Bank, Praful C Patel, inaugurated a Rural Growth Centre (RGC) established by Pakistan Poverty Alleviation Fund (PPAF) under an Integrated Area Upgrading Programme at a cost of Rs 9 million to provide a
Published 28 May, 2008 12:00am
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