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Print - 2008-09-18
Worst of financial crisis may lie ahead: IMF head

Worst of financial crisis may lie ahead: IMF head

The worst of the financial crisis may still lie ahead and more major financial institutions may face trouble in coming months, IMF director general Dominique Strauss-Kahn said on Wednesday. The crisis risks weighing on the world economy, he said, though b
Published 18 Sep, 2008 12:00am
US stocks finish firmer

US stocks finish firmer

US stocks rebounded on Tuesday, clawing back a day after their biggest drop in seven years on growing optimism that US authorities may finance a rescue of insurer American International Group. Hopes for a rescue grew after a source briefed on the matter t
Published 18 Sep, 2008 12:00am
TMA demands early restoration of R&D support

TMA demands early restoration of R&D support

Towel Manufacturers of Pakistan (TMA) has demanded immediate restoration of R&D support to save home textile loosing orders for Christmas and New Year, which are usually placed during September and October by the foreign buyers.
Published 18 Sep, 2008 12:00am
US housing starts at 17-1/2-year low; account deficit rises

US housing starts at 17-1/2-year low; account deficit rises

Construction starts on new US homes plunged to a 17-1/2-year low during August as builders scaled back sharply to try to cope with the worst slump in US housing since the Great Depression. The Commerce Department reported on Wednesday that starts on new h
Published 18 Sep, 2008 12:00am
US Treasury prices drop

US Treasury prices drop

US Treasury debt prices fell on Tuesday after the Federal Reserve left interest rates unchanged and a stock rally, spurred by news that troubled insurer AIG might get help raising capital, sapped the bid for safe-haven US government debt.
Published 18 Sep, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
Sindh University announces admissions to LLB

Sindh University announces admissions to LLB

The University of Sindh on Wednesday announced admissions to five-year LLB programme for the session 2008. According to announcement made by the Director Admissions, forms for first year LLB will be issued from September 20, 2008. Students can submit thei
Published 18 Sep, 2008 12:00am
Poliycmakers struggle to restore market composure

Poliycmakers struggle to restore market composure

Central banks struggled to restore confidence on financial markets for a third day running on Wednesday after the United States agreed to rescue insurance giant AIG, the latest casualty in a crisis sweeping Wall Street.
Published 18 Sep, 2008 12:00am
US Treasury prices drop

US Treasury prices drop

US Treasury debt prices fell on Tuesday after the Federal Reserve left interest rates unchanged and a stock rally, spurred by news that troubled insurer AIG might get help raising capital, sapped the bid for safe-haven US government debt.
Published 18 Sep, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
US House passes bill allowing offshore drilling

US House passes bill allowing offshore drilling

The US House of Representatives passed legislation late on Tuesday that lifts a longstanding ban on offshore oil drilling, opening most of the US coastline to exploration. The package proposed by Democrats would give states the option to allow drilling be
Published 18 Sep, 2008 12:00am
Taiwan stocks slightly higher

Taiwan stocks slightly higher

Taiwan stocks ended up 0.77 percent on Wednesday from a near three-year low, with TSMC leading the rise on Wall Street gains and after the Taiwan central bank's surprise cut of the reserve requirement ratio to boost liquidity. The main TAIEX share index r
Published 18 Sep, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, (September 18, 2008).

Published 18 Sep, 2008 12:00am
Customs Office at PICT gutted

Customs Office at PICT gutted

A devastating fire reduced the entire office infrastructure of Pakistan Customs at Pakistan International Container Terminal (PICT) into ashes on Tuesday evening. According to fire brigade sources the blaze erupted in one of the 6-8 rooms of PACCS departm
Published 18 Sep, 2008 12:00am
UK jobless sees biggest jump since December 1992

UK jobless sees biggest jump since December 1992

The number of Britons claiming unemployment benefit rose for a seventh consecutive month in August and by its biggest amount since December 1992 as a deepening economic slowdown dealt the job market a heavy blow. Figures from the Office for National Stati
Published 18 Sep, 2008 12:00am
China stock index down 2.9 percent

China stock index down 2.9 percent

China's main stock index fell nearly 3 percent to a new 22-month closing low on Wednesday, led by bank shares, which continued to be hurt by the turmoil in the global financial industry. Four banking shares plunged their 10 percent daily limits, after eig
Published 18 Sep, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, (September 18, 2008).

Published 18 Sep, 2008 12:00am
'Pakistani students performing well in British exams'

'Pakistani students performing well in British exams'

Every year Pakistani students have been performing extremely well in the British examinations because they work very hard. This was stated by John Gildes, Director Examinations Services Pakistan British Council.
Published 18 Sep, 2008 12:00am
EU states rebel over duties on Asian shoes

EU states rebel over duties on Asian shoes

A majority of European Union countries rebelled on Wednesday against a plan to keep controversial anti-dumping duties on leather shoes from China and Vietnam, diplomats said. The views of national trade experts who met on Wednesday are not binding but cou
Published 18 Sep, 2008 12:00am
Singapore shares at lowest in more than two years

Singapore shares at lowest in more than two years

Singapore shares hit their lowest level in more than two years on Wednesday, with investors worried about the local economy after key exports shrank for the fourth straight month in August, dealers said. The blue chip Straits Times Index lost 1.71 percent
Published 18 Sep, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday, (September 18, 2008).

Published 18 Sep, 2008 12:00am
Primary level: programme planned to ensure 100 percent enrolment

Primary level: programme planned to ensure 100 percent enrolment

The government is planning to launch a massive crash programme to ensure 100 percent enrolment at the primary level in the next two years. Sources in the Ministry of Education told Business Recorder that the government has directed the authorities
Published 18 Sep, 2008 12:00am
Bank of England extends credit-crunch facility for banks

Bank of England extends credit-crunch facility for banks

The Bank of England said Wednesday it has extended a facility that allows high street banks to swap mortgage-backed securities for government bonds to boost liquidity amid ongoing market chaos. The facility, which was launched in April, has now been exten
Published 18 Sep, 2008 12:00am
Nikkei rises 1.2 percent

Nikkei rises 1.2 percent

The Nikkei average rose 1.2 percent on Wednesday from a three-year low hit the previous day, after the Federal Reserve's bailout of American International Group worked to calm some of the turmoil ravaging Wall Street. Financial shares such as top lender M
Published 18 Sep, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
16 more dengue suspects brought to hospitals

16 more dengue suspects brought to hospitals

Giving latest position about dengue fever, the Provincial Health Minister, Dr Saghir Ahmed said on Saturday that so far 603 patients suspected of having dengue fever have been brought to various hospitals in the Province and 174 stood positive.
Published 18 Sep, 2008 12:00am
Morgan Stanley, Goldman shares slide; CDS spreads spike

Morgan Stanley, Goldman shares slide; CDS spreads spike

Shares of Wall Street firms Morgan Stanley and Goldman Sachs plummeted on Wednesday and the UK's biggest mortgage lender, HBOS Plc, looked set to be bought as signs of financial industry distress abounded. Tuesday's $85 billion rescue of insurer American
Published 18 Sep, 2008 12:00am
Malaysian shares dip

Malaysian shares dip

Malaysian share prices ended 0.9 percent lower on Wednesday amid concerns over the health of US financial institutions and political turmoil in the country, dealers said. The Kuala Lumpur Composite Index fell 9.38 points to close at 1,002.99, just houts a
Published 18 Sep, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (September 17, 2008) and for Thursday (September 18, 2008).
Published 18 Sep, 2008 12:00am
Rs seven million bio bank to be set up at PCMD

Rs seven million bio bank to be set up at PCMD

The first bio bank of Pakistan is being set up at Dr Panjwani Centre for Molecular Medicine and Drug Research, University of Karachi. An official of the University said here on Wednesday that the project would cost Rs 7 million.
Published 18 Sep, 2008 12:00am
European economy faces fallout from financial crisis

European economy faces fallout from financial crisis

The European economy will suffer collateral damage from the crisis roiling the financial sector, although the extent of the fallout remains to be seen, ministers and analysts warned on Wednesday. "Volatile equity markets, the general climate of uncertaint
Published 18 Sep, 2008 12:00am
Philippines shares close 1.5 percent higher

Philippines shares close 1.5 percent higher

Philippines share prices closed 1.5 percent higher on Wednesday, helped by Wall Street gains and investors picking up local stocks after an 11 percent slide over the past six days, dealers said. The composite index added 35.28 points to 2,457.00. In the b
Published 18 Sep, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
PPP, MQM ministers to get two portfolios each: Sindh chief minister

PPP, MQM ministers to get two portfolios each: Sindh chief minister

Sindh Chief Minister, Syed Qaim Ali Shah has hinted at change in portfolios in Sindh Cabinet to accommodate two ministers each from PPP and MQM who are without portfolios so far. Talking to journalists at an Iftar party on Tuesday night, the Chief Ministe
Published 18 Sep, 2008 12:00am
Hundreds of AIG policyholders throng Asian offices

Hundreds of AIG policyholders throng Asian offices

Hundreds of worried policyholders on Wednesday thronged Asian offices of troubled global insurance giant American International Group (AIG), some hoping to terminate their agreements. In Singapore, hundreds lined up outside the company's local headquarter
Published 18 Sep, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 68.51/68.52 (previous 68.51/68.52). Call Money Rates: 8.00-18.00 percent (previous 8.00-18.00 percent.
Published 18 Sep, 2008 12:00am
Intel launches processor 7400 series products

Intel launches processor 7400 series products

Seven 45 nanometer (nm) manufactured processor 7400 series products launched by the Intel Corporation. A statement here on Wednesday said the Intel Corporation has extended its lead in the high-end server segment, setting new standards in virtualisation p
Published 18 Sep, 2008 12:00am
Zara owner Inditex profit rises

Zara owner Inditex profit rises

Inditex, Europe's largest clothes retailer, said it sees "no significant risks or uncertainties" for its second half after profit edged up in the first, bucking a sharp consumer slowdown at home in Spain. The group, which runs the Zara chain and opens its
Published 18 Sep, 2008 12:00am
Yuan rebounds versus dollar

Yuan rebounds versus dollar

China's yuan rebounded against the dollar in the spot market on Wednesday after the Chinese central bank set a strong mid-point, reassuring the market that it still intended to keep the yuan stable. But the Chinese currency softened further in the offshor
Published 18 Sep, 2008 12:00am
Government fails to curb price hike despite protests

Government fails to curb price hike despite protests

The increasing price hike, frequent power outage and acute shortage of water and essential commodities including flour is creating unrest among the people of Hyderabad. Despite public protest and demonstrations in different localities, the authorities con
Published 18 Sep, 2008 12:00am
Zara owner Inditex profit rises

Zara owner Inditex profit rises

Inditex, Europe's largest clothes retailer, said it sees "no significant risks or uncertainties" for its second half after profit edged up in the first, bucking a sharp consumer slowdown at home in Spain. The group, which runs the Zara chain and opens its
Published 18 Sep, 2008 12:00am
Dollar advances versus yen

Dollar advances versus yen

The dollar advanced against the yen on Wednesday after the Federal Reserve rescued insurer American International Group, easing fears about a financial system crisis. The Fed said it would lend up to $85 billion to AIG, once the largest insurer in the wor
Published 18 Sep, 2008 12:00am
EU lawmakers in deal on funding new telecom watchdog

EU lawmakers in deal on funding new telecom watchdog

A planned new EU telecoms watchdog will be funded with a mix of European Union and national government money, under a cross-party deal by European Parliament groups, a senior lawmaker said on Wednesday. "We managed to reach agreement on this just yesterda
Published 18 Sep, 2008 12:00am
US dollar gains after Fed leaves rates

US dollar gains after Fed leaves rates

The dollar gained on Tuesday after the Federal Reserve held interest rates steady at 2 percent, opting for the time being to soothe rattled financial markets with central bank lending facilities rather than rate cuts. The dollar was volatile in the moment
Published 18 Sep, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
Qaim condoles Pir Siddiqi's death

Qaim condoles Pir Siddiqi's death

Sindh Chief Minister Syed Qaim Ali Shah has expressed deep grief and sorrow over the demise of Pir Anwar Ali Siddiqi, father of former MPA Pir Amjad Siddiqi, who died in Tando Bago on Tuesday night. He was brother-in-law of Makhdoom Amin Fahim and materna
Published 18 Sep, 2008 12:00am
Cyprus sees slower growth in 2009

Cyprus sees slower growth in 2009

Cyprus expects its economy to expand by around 3.7 percent in 2009, the eurozone newcomer said on Wednesday, saying a drop in demand tempered the outlook for next year. The Mediterranean island expects growth of close to 4.0 percent in 2008. Authorities s
Published 18 Sep, 2008 12:00am
Australian dollar recovers

Australian dollar recovers

The Australian dollar recovered from recent lows against the yen and US dollar on Wednesday on investor relief after the US government bailed out the beleaguered American Insurance Group (AIG). But fresh worries stemming from rumours that more US financia
Published 18 Sep, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
Transfers and postings

Transfers and postings

According to a notification issued by the Punjab government on Wednesday, Tahira Shaukat, Associate Professor of Zoology/Principal Government College for Women, Dhoke Elahi Bakhsh, Rawalpindi has been promoted to the rank of Professor of Zoology on regula
Published 18 Sep, 2008 12:00am
British airport operator BAA says to sell Gatwick hub

British airport operator BAA says to sell Gatwick hub

Britain's Spanish-owned airport operator BAA said Wednesday it planned to sell London's Gatwick hub after regulators last month called for the sale of two of its airports on competition grounds. "We have decided to begin the process of selling Gatwick Air
Published 18 Sep, 2008 12:00am
Asian currencies rebound on AIG rescue

Asian currencies rebound on AIG rescue

Asian currencies rebounded on Wednesday as investors bought back regional stocks after the Federal Reserve's rescue of insurer American International Group eased fears of a financial system meltdown. The South Korean won jumped about 4 percent, leading th
Published 18 Sep, 2008 12:00am
Kinnaird college holds farewell ceremony

Kinnaird college holds farewell ceremony

Bishop of Lahore, Dr Alexander John Malik, has said that former principal of Kinnaird College Lahore, Dr Mira Phailbus, has served in the college for a long time and made commendable progress under her dynamic leadership. She will be remembered as a dedic
Published 18 Sep, 2008 12:00am
Bank of Ireland to shore up capital as profit falls

Bank of Ireland to shore up capital as profit falls

Bank of Ireland plans to halve its dividend to boost capital as a global downturn and a stalling Irish economy hit earnings, sending its shares down 13 percent on Wednesday. It was not planning, however, to ask shareholders for fresh capital, or sell asse
Published 18 Sep, 2008 12:00am
Canadian dollar slips

Canadian dollar slips

The Canadian dollar fell against the US dollar on Tuesday due to soft commodity prices, but managed to make up some ground late in the session as markets cheered a report of a possible bailout for troubled insurer American International Group. Canadian bo
Published 18 Sep, 2008 12:00am
Jamil appointed ambassador at large

Jamil appointed ambassador at large

Prime Minister Syed Yousuf Raza Gilani has appointed Jamil Ahmed Khan Ambassador-at-Large. Jamil has vast experience in the field of security and has enjoyed the status of a diplomat in the United Nations (UN) where he worked for about nine years as secur
Published 18 Sep, 2008 12:00am
Bank of Ireland to shore up capital as profit falls

Bank of Ireland to shore up capital as profit falls

Bank of Ireland plans to halve its dividend to boost capital as a global downturn and a stalling Irish economy hit earnings, sending its shares down 13 percent on Wednesday. It was not planning, however, to ask shareholders for fresh capital, or sell asse
Published 18 Sep, 2008 12:00am
Cost of English clubs will not deter fresh Gulf bids

Cost of English clubs will not deter fresh Gulf bids

The cost of buying an English soccer team will not deter Gulf Arab investors, experts said as media speculation over a fresh bid for a club heats up. Championship (second division) club Burnley are the latest to be linked to investment from the Gulf Arab
Published 18 Sep, 2008 12:00am
THE RUPEE: dollar at record high on interbank market

THE RUPEE: dollar at record high on interbank market

The rupee touched the record low level against dollar in the interbank market on Wednesday, losing 35 paisa for buying at Rs 77.30 and it also lost 40 paisa for selling 77.40, dealers said. During the day, the rupee touched the record low at 77.55 due to
Published 18 Sep, 2008 12:00am
Jamaat-i-Islami three-day train march to begin October on 17

Jamaat-i-Islami three-day train march to begin October on 17

Naib Amir Jamaat-i-Islami Liaquat Baloch has announced that the JI will hold a three-day train march from October 17 from Peshawar to Karachi to protest the economic and foreign policies of the government. Addressing an Iftar dinner hosted by Jamaat-i-Isl
Published 18 Sep, 2008 12:00am
General Mills profit tops view as consumers eat in

General Mills profit tops view as consumers eat in

General Mills Inc posted a higher-than-expected quarterly profit and raised its full-year forecast on Wednesday as consumers bought more cake mixes and frozen pizzas to save money. Shares of the maker of Cheerios cereal, Betty Crocker baking mixes and Gre
Published 18 Sep, 2008 12:00am
Chelsea return to Champions League in cracking form

Chelsea return to Champions League in cracking form

One year ago, former Chelsea boss Jose Mourinho made his famous speech about omelettes and within a matter of days, the outspoken Portuguese manager whisked himself away from Stamford Bridge for the last time. Mourinho's Chelsea opened last season's Champ
Published 18 Sep, 2008 12:00am
THE RUPEE: dollar at record high on interbank market

THE RUPEE: dollar at record high on interbank market

The rupee touched the record low level against dollar in the interbank market on Wednesday, losing 35 paisa for buying at Rs 77.30 and it also lost 40 paisa for selling 77.40, dealers said. During the day, the rupee touched the record low at 77.55 due to
Published 18 Sep, 2008 12:00am
Three rockets hit Quetta

Three rockets hit Quetta

Some unknown men fired three rockets from suburb of the city which landed at three different parts of the provincial capital on Wednesday evening, CCPO Quetta Muhammad Akbar told APP. He said that one rocket hit a residence of Assistant Director FIA in Ta
Published 18 Sep, 2008 12:00am
General Mills profit tops view as consumers eat in

General Mills profit tops view as consumers eat in

General Mills Inc posted a higher-than-expected quarterly profit and raised its full-year forecast on Wednesday as consumers bought more cake mixes and frozen pizzas to save money. Shares of the maker of Cheerios cereal, Betty Crocker baking mixes and Gre
Published 18 Sep, 2008 12:00am
Gerrard steps up to lift Liverpool

Gerrard steps up to lift Liverpool

Liverpool opened their Champions League group stage campaign with a gritty 2-1 victory in Marseille on Tuesday, a win that once again highlighted the match-winning qualities of captain Steven Gerrard. Starting for the first time since undergoing a groin o
Published 18 Sep, 2008 12:00am
Elahi invited at iftar

Elahi invited at iftar

Special Assistant to Punjab Chief Minister Pervez Rashid has invited Chaudhary Pervaiz Elahi on Iftar at one of the thousands of tandoors of 'sasti roti' in the provincial metropolis that will provide him an opportunity to know the impressions of thousand
Published 18 Sep, 2008 12:00am
Austrian banks' exposure to Lehman around 700 million euros

Austrian banks' exposure to Lehman around 700 million euros

The financial crisis triggered by the collapse of US investment bank Lehman Brothers and crisis at insurer AIG will cost Austrian banks and insurers about 700 million euros (996 million dollars), the daily Die Presse estimated on Wednesday.
Published 18 Sep, 2008 12:00am
Pakistan, Sri Lanka vie for T20 title in Canada

Pakistan, Sri Lanka vie for T20 title in Canada

Pakistan will meet hosts Canada and Sri Lanka will play Zimbabwe in the opening round of an inaugural four-way Twenty20 tournament in Toronto, Pakistan-based organisers announced Wednesday. The tournament, scheduled to run from October 10-13, will give th
Published 18 Sep, 2008 12:00am
CCPO for stern action against offenders

CCPO for stern action against offenders

Capital City Police officer (CCPO), Muhammad Pervez Rathore has urged police officers to take solid measures for apprehending proclaimed offenders and court absconders for curbing crimes. He issued these instructions during his surprise visits to five pol
Published 18 Sep, 2008 12:00am
European business group sees growth picking up despite woes

European business group sees growth picking up despite woes

Europe's top business group voiced optimism on Tuesday about the continent's economic future despite the global financial meltdown triggered by the collapse of investment bank Lehman Brothers. BusinessEurope, which speaks for some 20 million European comp
Published 18 Sep, 2008 12:00am
India's 'rebel' league takes on ICC

India's 'rebel' league takes on ICC

The unrecognised Indian Cricket League took a swipe at the sport's governing body on Wednesday after signing 11 Bangladesh internationals for their second season. The ICL, bankrolled by India's largest listed media company Zee Telefilms, said it was frust
Published 18 Sep, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (September 17, 2008).

Published 18 Sep, 2008 12:00am
Tug of war between PML-N and PML-Q intensifies

Tug of war between PML-N and PML-Q intensifies

Tug of war between Pakistan Muslim League-Nawaz and Pakistan Muslim League-Q has intensified, as both the factions of Muslim League show their strength here on Wednesday, amid conflicting claims about enjoying support of members of the PML-Q forward bloc.
Published 18 Sep, 2008 12:00am
Malaysia's Public Bank plans Islamic subsidiary

Malaysia's Public Bank plans Islamic subsidiary

Public Bank, Malaysia's third-largest lender by assets, will set up a sharia subsidiary in November as strong demand is expected to boost its Islamic loan growth to double the conventional industry level next year, its managing director said on Wednesday.
Published 18 Sep, 2008 12:00am
Bangladesh rebel players face 10-year ban

Bangladesh rebel players face 10-year ban

Bangladesh will ban rebel players from playing for the country for 10 years if they participate in any unofficial tournament, its cricket board said on Wednesday. "The decision will be equally effective for contracted players or coaches if they participat
Published 18 Sep, 2008 12:00am
Altaf terms meeting with Zardari a success

Altaf terms meeting with Zardari a success

Chief Muttahida Qaumi Movement (MQM), Altaf Hussain, has said that in a successful meeting with the President Asif Ali Zardari at London, they both discussed the issues of vital importance. This he said while addressing party workers and leaders, who gath
Published 18 Sep, 2008 12:00am
SanDisk rejects $6 billion offer from Samsung

SanDisk rejects $6 billion offer from Samsung

US flash memory card maker SanDisk Corp rejected a $5.9 billion bid by top memory chip maker, Samsung Electronics Co Ltd, but would not rule out a deal at a better price. Buying SanDisk would give Samsung advanced technology and a tighter grip on its mark
Published 18 Sep, 2008 12:00am
Kuznetsova avenges Olympic upset by Li

Kuznetsova avenges Olympic upset by Li

Russia's Svetlana Kuznetsova avenged a shock defeat by China's Li Na at the Beijing Olympics in the first round of the Pan Pacific Open on Wednesday. The former US Open champion, toppled by Li at the first hurdle in Beijing last month, won 6-2 1-6 6-3 to
Published 18 Sep, 2008 12:00am
Kazakh banks have no liquidity problems

Kazakh banks have no liquidity problems

Kazakhstan's central bank moved to reassure investors on Tuesday that the worst impact of the global credit crunch was behind the country, saying domestic banks had enough liquidity and inflation was under control. Kazakhstan-watchers have been concerned
Published 18 Sep, 2008 12:00am
FIFA probes Heskey racism claims

FIFA probes Heskey racism claims

World football's ruling body FIFA is investigating claims that England striker Emile Heskey was racially abused by Croatia fans during the sides' World Cup qualifier last week. According to a report on the BBC FIFA said it began disciplinary proceedings a
Published 18 Sep, 2008 12:00am
PHDEB fails to achieve mango export target

PHDEB fails to achieve mango export target

The Pakistan Horticulture Development and Export Board (PHDEB) has failed this year to achieve the mango export target by a big margin. Last year, Pakistan had exported around 90,000 tons mango by mid-July, but the figure this year remained stuck at 62,50
Published 18 Sep, 2008 12:00am
Thai share prices 3.11 percent lower

Thai share prices 3.11 percent lower

Thai share prices closed 3.11 percent lower on Wednesday amid mounting fears of a domino effect on the global financial sector after the collapse of US investment bank Lehman Brothers, dealers said. The drop also came as the US Federal Reserve announced a
Published 18 Sep, 2008 12:00am
Nakheel reports three-fold increase in sales

Nakheel reports three-fold increase in sales

Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers announced that 2008 sales to date are showing a threefold increase on 2007's full-year figures. Nakheel's portfolio, conservatively valued at US $80 b
Published 18 Sep, 2008 12:00am
Customs, DHL sign MoU

Customs, DHL sign MoU

Pakistan Customs and M/s DHL (Pvt) Ltd have recently signed a memorandum of Understanding (MoU) at a local hotel. The MoU entails posting of customs staff within the newly created facility by M/s DHL adjacent to the traffic ramp of Jinnah International Ai
Published 18 Sep, 2008 12:00am
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