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Print - 2008-07-23
Emirates Telecom plans buyouts after credit ratings

Emirates Telecom plans buyouts after credit ratings

Emirates Telecommunications Corp (Etisalat) said on Tuesday it received its first credit ratings as the fast-expanding firm positions itself for at least one acquisition worth $500 million by October. Citing state-controlled Etisalat's strong market posit
Published 23 Jul, 2008 12:00am
South Korea says economy in worst shape since Asia crisis

South Korea says economy in worst shape since Asia crisis

South Korea's finance minister said on Tuesday the economy was in its worst trouble since the 1997 Asian financial crisis and markets took the comments as a warning to the central bank not to raise interest rates too much. The comments to parliament by Ka
Published 23 Jul, 2008 12:00am
Vodafone hit by downturn, sparks sector fears

Vodafone hit by downturn, sparks sector fears

Vodafone cut its revenue outlook on Tuesday, knocking confidence in the telecoms sector and dragging down shares in European rival Telefonica and supplier Ericsson. The world's biggest mobile group by sales was hit by consumers delaying buying new phones,
Published 23 Jul, 2008 12:00am
Vodafone hit by downturn, sparks sector fears

Vodafone hit by downturn, sparks sector fears

Vodafone cut its revenue outlook on Tuesday, knocking confidence in the telecoms sector and dragging down shares in European rival Telefonica and supplier Ericsson. The world's biggest mobile group by sales was hit by consumers delaying buying new phones,
Published 23 Jul, 2008 12:00am
Funds of hedge fund look to global macro for gains

Funds of hedge fund look to global macro for gains

Funds of hedge fund managers are looking to global macro funds to try and steer clear of the mess thrown up by the credit crisis while cautiously dipping their toes in a small pool of more risky assets, a Reuters poll found.
Published 23 Jul, 2008 12:00am
Funds of hedge fund look to global macro for gains

Funds of hedge fund look to global macro for gains

Funds of hedge fund managers are looking to global macro funds to try and steer clear of the mess thrown up by the credit crisis while cautiously dipping their toes in a small pool of more risky assets, a Reuters poll found.
Published 23 Jul, 2008 12:00am
NOL enters race for top German shipper Hapag-Lloyd

NOL enters race for top German shipper Hapag-Lloyd

Singapore's Neptune Orient Lines has submitted an indicative bid for Germany's Hapag-Lloyd, estimated to be worth over $7 billion, to create the world's third-biggest container shipping group.
Published 23 Jul, 2008 12:00am
Investors cheer Serbia arrest but worries remain

Investors cheer Serbia arrest but worries remain

Foreign investors welcomed on Tuesday Serbia's arrest of war crimes fugitive Radovan Karadzic, seeing it as a key step towards European Union entry, but analysts said serious economic and political obstacles remain.
Published 23 Jul, 2008 12:00am
Caterpillar profit beats views, ups 2008 outlook

Caterpillar profit beats views, ups 2008 outlook

Construction and mining equipment company Caterpillar Inc said on Tuesday quarterly earnings rose a greater-than-expected 34 percent as strong growth in emerging economies offset weakness in North America, Western Europe and Japan. The company also raised
Published 23 Jul, 2008 12:00am
Caterpillar profit beats views, ups 2008 outlook

Caterpillar profit beats views, ups 2008 outlook

Construction and mining equipment company Caterpillar Inc said on Tuesday quarterly earnings rose a greater-than-expected 34 percent as strong growth in emerging economies offset weakness in North America, Western Europe and Japan. The company also raised
Published 23 Jul, 2008 12:00am
Techs drag Taiwan stocks lower

Techs drag Taiwan stocks lower

Taiwan shares closed down 0.28 percent on Tuesday after the previous day's 4 percent gain, with big tech names such as TSMC tracking losses in US peers on worries over slowing demand. The main TAIEX ended 20.02 points lower at 7,065.65, after scoring its
Published 23 Jul, 2008 12:00am
Hong Kong shares finish flat

Hong Kong shares finish flat

Hong Kong shares flitted in and out of negative territory before closing flat on Tuesday, as investors locked in gains on a four-session, 6.4 percent rally after oil prices rose, but shares in Lenovo slid after IBM sold a stake in the Chinese PC maker.
Published 23 Jul, 2008 12:00am
US stocks fall on oil's rebound

US stocks fall on oil's rebound

US stocks slipped on Monday, as oil turned higher after last week's sharp drop and Merck and Schering-Plough led the pharmaceuticals sector lower, overshadowing gains in banks after Bank of America's stronger-than-expected results.
Published 23 Jul, 2008 12:00am
Philippines shares dip

Philippines shares dip

Philippines share prices closed 0.3 percent lower on Tuesday as investors cashed in their gains after an upturn during the previous trading day, dealers said. The composite index fell 6.64 points to 2,409.98. The all-share index lost 2.22 points to 1,528.
Published 23 Jul, 2008 12:00am
Indian shares up 1.84 percent

Indian shares up 1.84 percent

Indian shares closed 1.84 percent higher on Tuesday, as optimism rose that the Congress-led coalition government would survive an imminent parliamentary confidence vote, dealers said. The benchmark Mumbai 30-share Sensex index rose 254.16 points to 14,104
Published 23 Jul, 2008 12:00am
US Treasury prices end firmer

US Treasury prices end firmer

US Treasury debt prices rose on Monday, as the stock market turned negative in late trading on higher oil prices and weakness in pharmaceuticals shares, reviving the safety bids for bonds.
Published 23 Jul, 2008 12:00am
US Treasury prices end firmer

US Treasury prices end firmer

US Treasury debt prices rose on Monday, as the stock market turned negative in late trading on higher oil prices and weakness in pharmaceuticals shares, reviving the safety bids for bonds.
Published 23 Jul, 2008 12:00am
Malaysian shares rally

Malaysian shares rally

Malaysian share prices closed 0.6 percent higher on Tuesday, led by gains in selected blue chips and plantation stocks, dealers said. The Kuala Lumpur Composite Index gained 6.09 points to 1,109.57. Volume was thin with 329.505 million shares worth 784 mi
Published 23 Jul, 2008 12:00am
Thai share prices decline

Thai share prices decline

Thai share prices closed 0.75 percent lower on Tuesday as investors sold stocks for short-term profit-taking after the market rose the previous day, dealers said. They said the Thai bourse fell in line with other regional markets, while investors were als
Published 23 Jul, 2008 12:00am
Most China shares firm but blue chips sink

Most China shares firm but blue chips sink

Most Chinese shares rose on Tuesday, extending two days of sharp gains, but profit-taking in heavily weighted blue chips such as China Life Insurance and Sinopec pulled down the main index. The Shanghai Composite Index ended down 0.53 percent at 2,846.117
Published 23 Jul, 2008 12:00am
Nikkei jumps as banks, trading houses gain

Nikkei jumps as banks, trading houses gain

Japan's Nikkei stock average posted its biggest daily percentage gain in eight weeks on Tuesday, jumping 3 percent as Itochu Corp climbed on overnight gains in oil, while financials rose on relief that major US banks' earnings were not as bad as feared.
Published 23 Jul, 2008 12:00am
Singapore shares finish lower

Singapore shares finish lower

Singapore share prices closed 0.98 percent weaker on Tuesday as a cautious mood prevailed with no fresh leads to boost the market, dealers said. The blue chip Straits Times Index (STI) finished 28.55 points lower at 2,890.66. Volume traded totalled 824 mi
Published 23 Jul, 2008 12:00am
Dollar steady

Dollar steady

The dollar was steady on Tuesday after falling near a record low against the euro the previous day as investors believe the worst of the problems in the US financial system are not yet over. While the dollar has recovered somewhat after better results tha
Published 23 Jul, 2008 12:00am
Dollar falls

Dollar falls

The dollar fell on Monday as fears of woes in the US financial sector persisted even as Bank of America reported better-than-expected results. The greenback gained earlier against the yen after Bank of America's second-quarter earnings beat analysts' fore
Published 23 Jul, 2008 12:00am
Australian dollar holds ground

Australian dollar holds ground

The Australian dollar was broadly steady on Tuesday, supported by higher commodities and its hefty yield advantage, ahead of a crucial inflation report which could sway market expectations on future interest rate moves. The Aussie was at $0.9755/60 agains
Published 23 Jul, 2008 12:00am
Asian currencies down after soft earnings

Asian currencies down after soft earnings

Asian currencies fell on Tuesday as investors fled risky trades on fresh financial concerns following soft corporate earnings reports released the previous day, but the yuan and South Korean won bucked the trend.
Published 23 Jul, 2008 12:00am
Swiss franc trades flat

Swiss franc trades flat

The Swiss franc was largely unchanged against major currencies on Tuesday after data showed exports fell a real 3.5 percent in June on the year. "The slowdown in overall activity is likely to put downward pressure on inflation and hence we see rates on ho
Published 23 Jul, 2008 12:00am
Phelps's record quest dominates pool action

Phelps's record quest dominates pool action

Michael Phelps stole the show at the 2004 Olympics by winning eight medals, including six golds, and he has his sights set on an even greater feat in Beijing. The lanky American has entered the same eight events at the Games in August - the 100 and 200 me
Published 23 Jul, 2008 12:00am
Ten Sports to telecast India and Sri Lanka cricket matches

Ten Sports to telecast India and Sri Lanka cricket matches

Indian cricket team will be thirsting for revenge against Sri Lanka following their humiliating defeat in the Asia Cup final recently in Pakistan, while Sri Lanka will be eager to extend their good record at home when they welcome their Asian neighbours f
Published 23 Jul, 2008 12:00am
Debt-ridden Spanish clubs fail to pay players

Debt-ridden Spanish clubs fail to pay players

Debt-ridden clubs in the top two Spanish leagues owe their players over 38 million euros ($60.50 million), according to the country's association of footballers (AFE). AFE president Gerardo Gonzalez Movilla said that the economic crisis was hitting Spanis
Published 23 Jul, 2008 12:00am
India and Sri Lanka skippers welcome review trial

India and Sri Lanka skippers welcome review trial

Indian cricket captain Anil Kumble and his Sri Lankan opposite number Mahela Jayawardene Tuesday welcomed an experimental rule allowing players to seek a second opinion on umpiring decisions. The rule, which will trial during the three-Test series startin
Published 23 Jul, 2008 12:00am
Menchov loses ground as Dessel takes stage win

Menchov loses ground as Dessel takes stage win

Russian Denis Menchov's hopes of winning the Tour de France suffered a blow when he lost ground in the 16th stage, a 157-km mountain ride won by Frenchman Cyril Dessel on Tuesday. Rabobank's Menchov was dropped by the other favourites on the descent of th
Published 23 Jul, 2008 12:00am
Pattinson not to blame for defeat says Vaughan

Pattinson not to blame for defeat says Vaughan

England captain Michael Vaughan said controversial debutant Darren Pattinson had "tried his guts out" as he cleared him of blame for the team's 10-wicket second Test thrashing by South Africa. However, Vaughan admitted England's selection policy appeared
Published 23 Jul, 2008 12:00am
Storm Dolly to become hurricane, heads for Texas

Storm Dolly to become hurricane, heads for Texas

Tropical Storm Dolly intensified over the warm waters of the western Gulf of Mexico as it bore down on southern Texas on Tuesday, but forecasters don't expect it to reach catastrophic strength before hitting land near the Mexican border on Wednesday.
Published 23 Jul, 2008 12:00am
British study links IMF loans to tuberculosis

British study links IMF loans to tuberculosis

Austerity measures attached to International Monetary Fund (IMF) loans may have contributed to a resurgence in tuberculosis in eastern Europe and the former Soviet Union, researchers said on Tuesday. Governments may be reducing funding for health services
Published 23 Jul, 2008 12:00am
Rice in Singapore for North Korea talks

Rice in Singapore for North Korea talks

US Secretary of State Condoleezza Rice arrived in Singapore on Tuesday for six-party talks over North Korea's weapons programme that China said would push forward the process of denuclearisation. Rice is to join foreign ministers from China, Russia, Japan
Published 23 Jul, 2008 12:00am
Organised crime gang tried to buy Lazio

Organised crime gang tried to buy Lazio

A notorious Italian organised crime gang tried to buy soccer club Lazio through third parties using funds gained from violence and intimidation, authorities said on Tuesday. The plan by the Casalesi clan of the Camorra, the Naples version of the mafia, ca
Published 23 Jul, 2008 12:00am
UN urges donors to avert crisis in Somalia

UN urges donors to avert crisis in Somalia

International donors have funded only about a third of a $637 million aid appeal for Somalia, where drought, violence and record food prices threaten a disaster, a senior UN official warned on Tuesday. Mark Bowden, the UN resident and humanitarian co-ordi
Published 23 Jul, 2008 12:00am
UN may want to suspend ICC action on Bashir: Russia

UN may want to suspend ICC action on Bashir: Russia

The UN Security Council may want to consider suspending any war crimes indictment of Sudan's president by the International Criminal Court, Russia's UN ambassador told reporters on Monday.
Published 23 Jul, 2008 12:00am
Two killed in China temple blast

Two killed in China temple blast

A Tibetan Buddhist temple in an area of China wracked by anti-Chinese unrest earlier this year collapsed, killing two monks, after a powder used in religious rituals exploded, state media said Tuesday. Four other monks were hurt in the explosion and colla
Published 23 Jul, 2008 12:00am
Obama says committed to Iraq withdrawal timetable

Obama says committed to Iraq withdrawal timetable

US presidential candidate Barack Obama said on Tuesday he was still committed to a 16-month timetable for a US troop withdrawal from Iraq but cautioned that more work was needed to reconcile divided Iraqis. "What I have proposed is a steady, deliberate dr
Published 23 Jul, 2008 12:00am
Bulldozer on Jerusalem rampage before Obama visit

Bulldozer on Jerusalem rampage before Obama visit

A Palestinian rammed a bulldozer into vehicles on a busy Jerusalem street on Tuesday, ahead of a visit by US Democratic presidential candidate Barack Obama, and wounded 16 people before being shot dead. The attack, just down the road from the hotel where
Published 23 Jul, 2008 12:00am
Karadzic arrested in Serbia, worked as doctor

Karadzic arrested in Serbia, worked as doctor

Bosnian Serb wartime president Radovan Karadzic, indicted for genocide in the Bosnia war, was captured in disguise near Belgrade after 11 years on the run and had been working as a doctor, Serbian officials said on Tuesday.
Published 23 Jul, 2008 12:00am
US general warns Russia on nuclear bombers in Cuba

US general warns Russia on nuclear bombers in Cuba

Russia would cross "a redline for the United States of America" if it were to base nuclear capable bombers in Cuba, a top US air force officer warned on Tuesday. "If they did I think we should stand strong and indicate that is something that crosses a thr
Published 23 Jul, 2008 12:00am
India to discuss broader nuclear controls

India to discuss broader nuclear controls

India will start talks with the International Atomic Energy Agency next week about a broader nuclear inspection regime as it tries to garner support from IAEA governors for a US-Indian nuclear deal, diplomats said. India has already negotiated a safeguard
Published 23 Jul, 2008 12:00am
Change of mission next year as UK troops leave Iraq: Prime Minister

Change of mission next year as UK troops leave Iraq: Prime Minister

British forces in Iraq will undergo a "fundamental change of mission" at the beginning of next year, as troop numbers reduce, Prime Minister Gordon Brown told parliament Tuesday. "Just as last year we move from combat to overwatch, I would expect a furthe
Published 23 Jul, 2008 12:00am
EU broadens Zimbabwe sanctions

EU broadens Zimbabwe sanctions

The European Union widened sanctions against Zimbabwe on Tuesday despite a deal between hard-line President Robert Mugabe and opposition leader Morgan Tsvangirai aimed at ending the political crisis. EU foreign ministers, at a meeting in Brussels, added 3
Published 23 Jul, 2008 12:00am
Sri Lanka rejects rebel ceasefire offer

Sri Lanka rejects rebel ceasefire offer

The Sri Lankan government rejected Tuesday an eight-day unilateral truce offered by Tamil rebels ahead of an eight- nation South Asian regional summit to be held in the country."We do not want to accept any ceasefire and give oxygen for the terrorists who
Published 23 Jul, 2008 12:00am
Thousands march over Afghan land dispute

Thousands march over Afghan land dispute

Thousands of ethnic Hazaras marched Tuesday in the Afghan capital and the central town of Bamiyan in a protest over a land dispute with nomads in which several people are said to have been killed. In Kabul, hundreds of riot police were out to control an a
Published 23 Jul, 2008 12:00am
European credit spreads widen

European credit spreads widen

European credit spreads widened on Tuesday, hurt by a large loss at US bank Wachovia Corp, but retraced from early morning wides as a drop in oil prices supported US equity markets, a trader said. By 1527 GMT, the Markit investment-grade iTraxx Europe ind
Published 23 Jul, 2008 12:00am
European credit spreads widen

European credit spreads widen

European credit spreads widened on Tuesday, hurt by a large loss at US bank Wachovia Corp, but retraced from early morning wides as a drop in oil prices supported US equity markets, a trader said. By 1527 GMT, the Markit investment-grade iTraxx Europe ind
Published 23 Jul, 2008 12:00am
Tuesday's midday trade: falling oil offsets weak techs

Tuesday's midday trade: falling oil offsets weak techs

The Dow edged up on Tuesday as a drop of about $4.50 in oil prices added to positive sentiment from Caterpillar's strong earnings, offsetting declines in tech shares, including Apple. US front-month crude declined about 3.5 percent, to $126.52 a barrel on
Published 23 Jul, 2008 12:00am
Asian bond spreads range-bound

Asian bond spreads range-bound

Asian bond spreads were range-bound on Tuesday after a raft of weak earnings from US blue chips such as Apple and American Express raised concerns about the world's largest economy and kept investors sidelined. Concerns over a global credit crunch also co
Published 23 Jul, 2008 12:00am
Asian bond spreads range-bound

Asian bond spreads range-bound

Asian bond spreads were range-bound on Tuesday after a raft of weak earnings from US blue chips such as Apple and American Express raised concerns about the world's largest economy and kept investors sidelined. Concerns over a global credit crunch also co
Published 23 Jul, 2008 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's top share index snapped a three-day winning run on Tuesday as banking stocks fell on persistent economic concerns and Vodafone and Enterprise Inns lost ground after trading updates. The commodity-heavy FTSE 100 ended down 40.2 points, or 0.7 per
Published 23 Jul, 2008 12:00am
Long-term dollar/yuan volatilities fall

Long-term dollar/yuan volatilities fall

Long-term dollar/yuan volatilities fell to their lowest level in nearly two months on Tuesday, which dealers said showed an emerging consensus that yuan appreciation would slow in coming months. Offshore one-year dollar/yuan vols slid to 5.69 percent late
Published 23 Jul, 2008 12:00am
Sterling slips

Sterling slips

Sterling slipped against the dollar on Tuesday, giving up gains after comments from a Federal Reserve official that interest rate rises may be needed before labour and financial markets recover boosted the US currency. Sterling slipped around 0.2 percent
Published 23 Jul, 2008 12:00am
Dollar near record low versus euro in London

Dollar near record low versus euro in London

The dollar was mired near recent record lows against the euro on Tuesday, with concerns about the US financial sector continuing to erode sentiment. The US currency had gained slight support on Monday after forecast-beating second quarter results from Ban
Published 23 Jul, 2008 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended weaker on Tuesday on worries about the outcome of a vote of confidence in the government after opposition politicians said they were offered bribes to abstain. The rupee had risen on expectations the government would win the vote, b
Published 23 Jul, 2008 12:00am
New York cotton futures settle lower

New York cotton futures settle lower

Cotton futures finished easier on Tuesday on investor sales but the market is range-bound should stay in a band for now, brokers said. The key December cotton contract slid 1.20 cents to finish at 71.58 cents per lb, dealing from 71.51 to 73.14 cents.
Published 23 Jul, 2008 12:00am
Aluminium slips

Aluminium slips

Aluminium slipped to a five-week low on Tuesday after a steep drop in oil prices weighed on the energy intensive metal, while lead surged to a 9-week high due to falling Chinese exports. Aluminium traded on the London Metal Exchange (LME) touched a low of
Published 23 Jul, 2008 12:00am
Oil hits six-week low, storm concern fades

Oil hits six-week low, storm concern fades

Oil prices fell $5 a barrel to a six-week low on Tuesday as dealers anticipated a tropical storm moving over the Gulf of Mexico would miss most major oil and gas installations offshore. The losses come after the biggest weekly price decline in oil's histo
Published 23 Jul, 2008 12:00am
London cocoa and sugar fall

London cocoa and sugar fall

Cocoa and sugar prices eased on Tuesday as a sharp setback in oil and a stronger dollar sparked a widespread decline in commodity markets, dealers said. "Crude oil is driving all the other commodities and you also have an increase in the US dollar," Romai
Published 23 Jul, 2008 12:00am
US gold higher

US gold higher

US gold futures ended higher on Monday as a lower dollar against the euro and crude oil gains prompted buying of bullion as an alternative investment. August settles up $5.70 at $963.70 an ounce on the COMEX division of New York Mercantile Exchange. The s
Published 23 Jul, 2008 12:00am
Gold eases in London

Gold eases in London

Gold eased on Tuesday as a recovery in the dollar and weakening oil prices pulled the precious metal from its earlier highs. However, investors worried about the outlook for the US economy are still buying into the precious metal as a safe haven from fina
Published 23 Jul, 2008 12:00am
US MIDDAY: cocoa down, coffee up

US MIDDAY: cocoa down, coffee up

Arabica coffee futures were up a shade in early trade Tuesday, continuing to move sideways in a tight range, while US cocoa was lower. Both markets dealt in thin volume and felt some pressure from other commodities. ICE Futures US September arabica contra
Published 23 Jul, 2008 12:00am
US MIDDAY: sugar declines

US MIDDAY: sugar declines

Raw sugar futures on ICE Futures US at 8:40 am 1240 GMT. October raw sugar contract dropped 0.11 cent to 12.37 cents per lb. Trading from 12.31 to 12.50 cents. Volume at 9,169 lots.
Published 23 Jul, 2008 12:00am
US MIDDAY: corn slips

US MIDDAY: corn slips

Corn was down 7 to 15 cents per bushel, with September down 7-1/4 at $5.82 per bushel. Drop in crude oil, rising dollar, good crop weather in the US Midwest along with improving crop conditions weigh on prices. Favourable weather continues for developing
Published 23 Jul, 2008 12:00am
US MIDDAY: wheat firms

US MIDDAY: wheat firms

Wheat was up 5 to 9 cents per bushel, with September up 8-1/4 cents at $7.99-1/4 per bushel. Technical recovery on oversold signals after recent sharp declines. Gains limited by drop in corn and big global wheat crop also limits gains.
Published 23 Jul, 2008 12:00am
US MIDDAY: soyabeans mixed

US MIDDAY: soyabeans mixed

Soyabean futures were down 2 to up 8 cents per bushel, with August was up 1-1/4 at $14.10-1/4 per bushel. Shrinking stocks of soya and oversold technical signals after Monday's decline supportive to market. However, gains limited by falling crude oil, fir
Published 23 Jul, 2008 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures rose to a one-week high early Tuesday, with support stemming from firmer tones in the broader base metals complex and concerns about supply tightness. Copper for September delivery was trading up 1.10 cents at $3.6920 a lb by 10:08 am ED
Published 23 Jul, 2008 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

US gold futures turn lower on Tuesday as a combination of sharply lower oil prices and a dollar bounce prompt heavy profit taking, erasing bullion's solid initial gains. August was down 70 cents at $963.00 an ounce on the Comex division of New York Mercan
Published 23 Jul, 2008 12:00am
FDA, Wasa officials visit rain-affected areas

FDA, Wasa officials visit rain-affected areas

Faisalabad Development Authority (FDA) Director General (DG) Raja Safdar Hussain and Wasa Managing Director (MD) Dr Arshad Mahmood visited low-laying city areas to have first hand information immediately after the rain. They particularly checked the perfo
Published 23 Jul, 2008 12:00am
PHP to be responsible to control traffic on highways: Sindhu

PHP to be responsible to control traffic on highways: Sindhu

The Punjab Highways Patrolling (PHP) is being assigned duties to control traffic and check traffic violations on highways throughout the province. Faisalabad Range Superintendent of Police, PHP, Humayun Sindhu, said this during an inaugural ceremony of pa
Published 23 Jul, 2008 12:00am
Fresh Hepatitis control programme to be launched soon

Fresh Hepatitis control programme to be launched soon

The Ministry of Health is in the final stages of drafting a programme to combat the Hepatitis disease, after the earlier 2005 programme was found to have missed its targets and objectives. According to the reports, the mid-point review conducted by the He
Published 23 Jul, 2008 12:00am
Archaeologists start excavation at Gandhara Grave Culture site

Archaeologists start excavation at Gandhara Grave Culture site

The Department of Cultural Heritage and Tourism Management, Hazara University, Mansehra is currently conducting excavations at the Gandhara Grave Culture site of Gankorini-o-Take in District Chitral under the direction of Dr Ihsan Ali, Professor of Archae
Published 23 Jul, 2008 12:00am
Farmer bodies condemn petroleum prices hike

Farmer bodies condemn petroleum prices hike

The latest hike in diesel and other petroleum products prices has been strongly condemned by farmers' organisations, which said that the elected government has been implementing western agenda to wipe out Pakistan's agriculture sector. The farmers' bodies
Published 23 Jul, 2008 12:00am
Pepco board approves promotions

Pepco board approves promotions

A meeting of Pepco Selection Board was held to consider the promotion of senior engineers BPS-18 to the rank of Superintending Engineers BPS-19. MD, Pepco, Fazal Ahmad Khan, presided over the meeting, where the board approved promoting of the following of
Published 23 Jul, 2008 12:00am
WWF-P organises capacity building workshop

WWF-P organises capacity building workshop

A two-day capacity building workshop concluded at the Institute of Policy, Research and Development (IPRD), which was organised by World Wide Fund for Nature Pakistan (WWF-Pakistan ) under European Commission funded project titled as "Water Thirsty Crops
Published 23 Jul, 2008 12:00am
Sindh University announces results of BSc part-I

Sindh University announces results of BSc part-I

The Sindh University (SU) has announced the result of BSc part-I (College side) annual examination of 2007 here on Tuesday. According to announcement total 5,869 candidates appeared in the examination of BSc part-I of college side, 2,725 declared pass in
Published 23 Jul, 2008 12:00am
'Agriculture sector should be developed on scientific lines'

'Agriculture sector should be developed on scientific lines'

Provincial Minister for Agriculture, Arbab Muhammad Ayub Jan, said Tuesday the agriculture should be developed on modern scientific lines to cater the consumption needs of people and to resolve the food crises in the province.
Published 23 Jul, 2008 12:00am
Partly Facetious: Golf partners are not easy to get

Partly Facetious: Golf partners are not easy to get

"So while we are trying to grapple with the rising price trend, and need I add the recent upsurge in the price of petrol has really hit me hard, we have some people whose salary is paid for from my tax rupee are playing golf and making merry."
Published 23 Jul, 2008 12:00am
Zardari 'controversy'

Zardari 'controversy'

In our neighbouring country India, Sonia Ganhdi, an Italian by birth and widow of Rajev Gandhi, revoked her Italian citizenship to prove her loyalty to India and avoid an unnecessary controversy. It was under her leadership that the Congress party won the
Published 23 Jul, 2008 12:00am
'Hike not justified'

'Hike not justified'

The petrol price hike is not justified. The peoples government announced the biggest petrol price hike at a time when global oil prices are declining, and the Saudi government is offering some financial relief in the payment of oil purchases. Middle class
Published 23 Jul, 2008 12:00am
ML (N) getting tired of 'principled stand'?

ML (N) getting tired of 'principled stand'?

In a panel discussion on TV the other day, Saad Rafiq the young ML(N) firebrand, suddenly sprang an intriguing observation. His subsequent elaboration of the observation was even more intriguing. The panel had made a point about the continued absence from
Published 23 Jul, 2008 12:00am
GOOD MORNING: will kids save when everyone's overspending?

GOOD MORNING: will kids save when everyone's overspending?

There was a time when the concept of hidden charges (or concealed costs) in the world of commerce was almost unknown or rare, if at all prevalent. But now our commercial banks, for instance, have to make categorical assertions that there are no hidden cha
Published 23 Jul, 2008 12:00am
The principle of non-interference: The Security Council's veto power

The principle of non-interference: The Security Council's veto power

China and Russia, two permanent members of the United Nations Security Council, vetoed, on July 11, 2008, a draft resolution prepared by Britain and the United States for the Security Council to impose an arms embargo on Zimbabwe and financial and travel
Published 23 Jul, 2008 12:00am
Obama in Kabul

Obama in Kabul

As expected, Democratic presidential candidate Barack Obama's weekend visit to Kabul helped him improve his foreign policy credentials. Somehow his statements on the United States' foreign military engagements, particularly in Iraq and Afghanistan, had ea
Published 23 Jul, 2008 12:00am
Reason to be pragmatic

Reason to be pragmatic

In a recent editorial comment, the Financial Times observed that hopes generated by the February 18 general elections are evaporating as elected politicians of Pakistan "seem unwilling or unable to do anything about it". May be the outside world can help
Published 23 Jul, 2008 12:00am
Punjab University holds lecture

Punjab University holds lecture

The Pakistan Study Centre of Punjab University (PU) on Tuesday organised a lecture on "research issues in social sciences" for its MPhil and PhD scholars. Professor of Political Science, Lahore University of Management Sciences (LUMS) and former chairman
Published 23 Jul, 2008 12:00am
US donates $0.45 million IT hardware to ECP

US donates $0.45 million IT hardware to ECP

The United States government, through the United States Agency for International Development (USAID), on Tuesday donated information technology hardware worth $0.45 million to the Election Commission of Pakistan (ECP). The technology will help the ECP imp
Published 23 Jul, 2008 12:00am
Zero-Point interchange construction: body agrees to award contract

Zero-Point interchange construction: body agrees to award contract

A high-level committee of Capital Development Authority (CDA) has agreed to award the contract for construction of Zero-Point interchange to M/s Maqbool Associates. After the final approval, the firm will start work on the project within 15 days.
Published 23 Jul, 2008 12:00am
Transporters increase fares without government notification

Transporters increase fares without government notification

The transporters have started overcharging the commuters of twin cities without any notification by the concerned. The increase in fares by the transporters has angered the passengers and a number of altercations have been reported in the last couple of d
Published 23 Jul, 2008 12:00am
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