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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-09-19
US Treasury prices rally

US Treasury prices rally

US Treasuries rallied and bill rates plummeted on Wednesday as unrelenting financial market upheaval, including another big stock market drop, fed demand for cash and ultra-low-risk investments. US stocks tumbled on Wednesday. The broad S&P 500 stock inde
Published 19 Sep, 2008 12:00am
Singapore shares close flat

Singapore shares close flat

Singapore shares closed flat on Thursday, recovering from heavy earlier losses but the overall mood remained bearish as investors worried about turbulence in global financial markets, dealers said. The blue chip Straits Times Index closed 0.08 points lowe
Published 19 Sep, 2008 12:00am
US stocks drop to three-year low

US stocks drop to three-year low

US stocks dropped to a three-year low on Wednesday as the US rescue of insurer AIG failed to calm a crisis of confidence in global markets and banks were scared to lend to each other. The Dow fell almost 450 points and the Nasdaq fell nearly 5 percent in
Published 19 Sep, 2008 12:00am
Hong Kong shares flat after hitting to 26-month low

Hong Kong shares flat after hitting to 26-month low

Hong Kong shares recovered from a 26-month low to close flat on Thursday, helped by late buying in Chinese stocks following a co-ordinated effort from global central banks to ease a funding squeeze in money markets. The blue chip index at one point slid a
Published 19 Sep, 2008 12:00am
China stocks finish down

China stocks finish down

China's main stock index fell to a new 22-month closing low on Thursday, hit by the turmoil in the global financial industry, but came well off the day's lows because of a rebound in beaten-down bank shares. The Shanghai Composite Index sank more than 6.5
Published 19 Sep, 2008 12:00am
Jakarta shares surge

Jakarta shares surge

Indonesian shares bounced back from morning losses on Thursday to gain one percent at the close thanks to late bargain-hunting in commodity-related stocks, dealers said. The Jakarta Composite Index added 17.78 points to 1,787.67 on moderate volume, from a
Published 19 Sep, 2008 12:00am
Nikkei at three-year closing low

Nikkei at three-year closing low

The Nikkei average slid 2.2 percent to a three-year closing low on Thursday, with financial shares tumbling as the growing crisis on Wall Street sent major US banks scrambling for merger partners. Sony Corp plunged to hit a five-year low after a Goldman S
Published 19 Sep, 2008 12:00am
Thai share prices fall

Thai share prices fall

Thai share prices closed 0.79 percent lower on Thursday amid ongoing concerns over a domino effect on global financial markets, dealers said. They said the Thai market moved in line with other regional markets, falling sharply in the morning and reboundin
Published 19 Sep, 2008 12:00am
Indian shares slightly firmer

Indian shares slightly firmer

Indian shares rose 0.4 percent on Thursday, recovering from intra-day lows on bargain hunting, as global central banks moved to calm turbulent financial markets through joint liquidity action. The BSE benchmark 30-share Sensex index rose 52.7 points to 13
Published 19 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 Thursday. 68.51/68.52 (previous 68.51/68.52). Call Money Rates: 8.00-16.00 percent (previous 8.00-18.00 percent).
Published 19 Sep, 2008 12:00am
Taiwan dollar at 7 1/2-month low

Taiwan dollar at 7 1/2-month low

The Taiwan dollar fell to a 7 1/2-month low on Thursday as investor concerns over the global economy sent stocks sharply lower, but exporters, offshore investors and the central bank helped recoup some losses. The Taiwan dollar fell to an intraday low of
Published 19 Sep, 2008 12:00am
Swiss franc drops

Swiss franc drops

The Swiss franc dropped on Thursday after major central banks stepped up their efforts to calm global money markets by offering larger amounts of dollar liquidity. Markets now await the Swiss National Bank's rate decision, where the central bank is expect
Published 19 Sep, 2008 12:00am
Chinese yuan tumbles versus dollar

Chinese yuan tumbles versus dollar

The yuan fell sharply against the dollar in the offshore non-deliverable forwards market on Thursday in the wake of monetary easing by China's central bank. One-year dollar/yuan NDFs were quoted at 6.9800 bid by Citibank Singapore, while other major banks
Published 19 Sep, 2008 12:00am
Dollar drops on US bank fears

Dollar drops on US bank fears

The dollar fell against the euro and yen in volatile trade on Thursday as losses in US investment banking stocks and doubts over the bailout of insurer American International Group fuelled financial sector fears. Shares of Morgan Stanley and larger rival
Published 19 Sep, 2008 12:00am
Dollar falls against euro

Dollar falls against euro

The US dollar fell against the euro and yen on Wednesday as the US government's rescue of insurer AIG failed to calm investor concerns about the stability of the US financial sector. American International Group's emergency $85 billion loan from the Feder
Published 19 Sep, 2008 12:00am
Australian dollar subdued near lows

Australian dollar subdued near lows

The Australian dollar hovered uncomfortably close to recent lows on the yen and US dollar on Thursday as ructions in global financial markets led investors to stay clear of riskier assets and higher-yielding currencies. However, short-term bill futures fe
Published 19 Sep, 2008 12:00am
Asian currencies fall

Asian currencies fall

Asian currencies drifted lower as growing fears of the financial turmoil sparked a global rout in stocks, with the South Korean won sliding more than 3 percent. The won fell as far as 1,156.9 per dollar, nearing its four-year low at 1,165.8 hit on Tuesday
Published 19 Sep, 2008 12:00am
Canadian dollar rebounds

Canadian dollar rebounds

A late rally by commodity prices helped the Canadian dollar recover from steep losses to end slightly higher against the US dollar on Wednesday. Canadian bond prices rose as investors sought the safety of government debt as equity markets sold off on the
Published 19 Sep, 2008 12:00am
Pirates seize two more ships off Somalia

Pirates seize two more ships off Somalia

Pirates from Somalia have hijacked a Greek ship and another from Hong Kong, each carrying 25 crew, a Kenyan maritime official said on Thursday. Heavily-armed Somali pirates have hijacked more that 30 vessels off the Horn of Africa country this year, makin
Published 19 Sep, 2008 12:00am
UN again throws out Taiwan bid for recognition

UN again throws out Taiwan bid for recognition

The United Nations has again ruled out a UN role for Taiwan, a Taipei official said on Thursday, despite a recent thaw in relations with China which considers the island a breakaway province. A UN subcommittee decided on Wednesday it would not let the Gen
Published 19 Sep, 2008 12:00am
China taps emergency water for 'grim' Beijing

China taps emergency water for 'grim' Beijing

China's capital started pumping "emergency" water from its long-parched neighbouring province on Thursday, with officials speaking of a "grim" shortfall weeks after the Olympics when they said the city had enough water.
Published 19 Sep, 2008 12:00am
India allows local editions of foreign news magazines

India allows local editions of foreign news magazines

India on Thursday lifted a decades-old ban on local editions of foreign news magazines, but put a cap of 26 percent on overseas equity in such joint ventures. The government said the step would make foreign news publications more affordable to Indian read
Published 19 Sep, 2008 12:00am
Wall Street crisis will call shots for next president

Wall Street crisis will call shots for next president

Neither Barack Obama nor John McCain is known for economic expertise but it's a safe bet that managing the fallout from the financial industry's meltdown will be a top priority for the next US president.
Published 19 Sep, 2008 12:00am
Bolivia in fragile talks to end political crisis

Bolivia in fragile talks to end political crisis

Bolivia's president, Evo Morales, and opposition provincial governors began talks on Thursday to try to end a stand-off that erupted in violence last week, but there is deep mutual mistrust.
Published 19 Sep, 2008 12:00am
Mafia clan boss arrested in Italy

Mafia clan boss arrested in Italy

Police have arrested a 'Ndrangheta mafia clan boss wanted over a Christmas day shooting in 2006 that killed the wife of a rival and injured three others, including a child, authorities said Thursday. Francesco Pelle, 32, also known as "Ciccio Pakistan", i
Published 19 Sep, 2008 12:00am
Tata Motors offered new site for Nano car plant

Tata Motors offered new site for Nano car plant

Tata Motors said Thursday it has been offered another site in India for its factory to mass produce the world's cheapest car after protests over land dogged another location. Company officials met with the chief minister of the southern hi-tech state of K
Published 19 Sep, 2008 12:00am
Badawi rejects Anwar's call for emergency parliament

Badawi rejects Anwar's call for emergency parliament

Malaysia's Prime Minister Abdullah Ahmad Badawi on Thursday rejected opposition demands to recall parliament for a confidence vote, prolonging his grip on power but also a deeply uncertain political environment. Opposition leader Anwar Ibrahim had called
Published 19 Sep, 2008 12:00am
Donkey jailed for theft in Egypt

Donkey jailed for theft in Egypt

An Egyptian donkey has been jailed for stealing corn on the cob from a field belonging to an agricultural research institute in the Nile Delta, local media reported on Thursday. The ass and its owner were apprehended at a police checkpoint that had been s
Published 19 Sep, 2008 12:00am
Kenya's election badly flawed

Kenya's election badly flawed

Elections in Kenya that unleashed a wave of bloodshed earlier this year were so badly flawed that it is impossible to know who won, an official inquiry said on Thursday. At least 1,300 people were killed and hundreds of thousands forced to flee their home
Published 19 Sep, 2008 12:00am
US trains Iraqi women spies

US trains Iraqi women spies

The American military has begun training a first batch of Iraqi women spies to work alongside US-led forces in the violence-hit country, it was announced here on Thursday. US intelligence specialists addressed Iraqi women who formed the first class to und
Published 19 Sep, 2008 12:00am
Man United held as Juventus and Real win

Man United held as Juventus and Real win

Goal-shy Manchester United kicked off their Champions League title defence with a tepid 0-0 home draw against Villarreal in their opening Group E match on Wednesday. Former champions Juventus celebrated their return to Europe's top flight with a 1-0 win o
Published 19 Sep, 2008 12:00am
India raring to go for Davis playoff

India raring to go for Davis playoff

India are raring to go for their weekend Davis Cup World Group play-off tie starting Friday after having defeated Uzbekistan and Japan to qualify. Not since 2005 have the Indians - overall runners-up in 1966, 1974 and 1987 - reached the playoffs while the
Published 19 Sep, 2008 12:00am
Fourth AFC President's Cup: Dordoi on way to hat-trick

Fourth AFC President's Cup: Dordoi on way to hat-trick

Kyrgyz champions Dordoi-Dynamo will be gunning for a hat-trick of triumphs when final phase of 4th AFC President's Cup 2008 will be played at home of Dordoi Dynamo - Spartak Stadium - a multi-use stadium in Bishkek, that holds 23,000 fans. Both semi-final
Published 19 Sep, 2008 12:00am
Wilkins back as first team coach at Chelsea

Wilkins back as first team coach at Chelsea

Ray Wilkins renewed his 35-year relationship with Chelsea on Thursday when the Premier League leaders announced he was returning to Stamford Bridge as first team coach. He replaces Steve Clarke who has moved to West Ham United to work under new Hammers bo
Published 19 Sep, 2008 12:00am
Racism row will not mar Australia tour, says Tendulkar

Racism row will not mar Australia tour, says Tendulkar

Sachin Tendulkar is confident that the racism row that marred India's tour of Australia in January will not cast a shadow on next month's test series against the world's top-ranked team. "I don't think there is any friction between us," Tendulkar told rep
Published 19 Sep, 2008 12:00am
Bangladesh 'rebel' stunned by 10-year ban

Bangladesh 'rebel' stunned by 10-year ban

Former Bangladesh captain Habibur Bashar was stunned by the 10-year ban imposed on him and 12 others for joining the unauthorised Indian Cricket League, reports said Thursday. The ICL, bankrolled by India's largest listed media company Zee Telefilms, on T
Published 19 Sep, 2008 12:00am
Ramiz Intikhab seek ICC rule change

Ramiz Intikhab seek ICC rule change

Former Pakistan captains Ramiz Raja and Intikhab Alam have urged the International Cricket Council (ICC) to review its rules to make sure countries do not pick and choose tours. Their demand follows Australia's decision on government advice to go ahead wi
Published 19 Sep, 2008 12:00am
Tamil Tigers will go underground: army chief

Tamil Tigers will go underground: army chief

Sri Lanka's Tamil Tigers will go underground rather than "fight to the last man" once a northern offensive that has cut their strength to 3,000 fighters from 12,000 nears its end, Sri Lanka's army chief said on Thursday.
Published 19 Sep, 2008 12:00am
US charges foreigners with illegal sales to Iran

US charges foreigners with illegal sales to Iran

The United States slapped sanctions on six Iranian military firms on late Wednesday and charged 16 foreign companies and individuals with illegally obtaining US military goods for Tehran, including microchips that can be used to trigger roadside bombs.
Published 19 Sep, 2008 12:00am
'Missiles can reach ships in Gulf

'Missiles can reach ships in Gulf

A top adviser of Iran's supreme leader has warned that in the event of war all ships passing through the oil-rich Gulf region would be within the reach of Iran's missiles, a government newspaper reported on Thursday. Iran, embroiled in a stand-off with th
Published 19 Sep, 2008 12:00am
Iran vows no nuclear retreat despite sanctions threat

Iran vows no nuclear retreat despite sanctions threat

President Mahmoud Ahmadinejad said on Thursday Iran will not suspend sensitive nuclear work as demanded by world powers and brushed aside the threats of more sanctions on his country. World powers have offered a package of trade and other incentives if th
Published 19 Sep, 2008 12:00am
China formula scare spreads to ice-cream, yoghurt

China formula scare spreads to ice-cream, yoghurt

Hong Kong has ordered the recall of a Chinese company's products after milk, ice cream and yoghurt were found to be contaminated with melamine, the compound responsible for killing four children in a China health scandal.
Published 19 Sep, 2008 12:00am
Opinion poll raises pressure on Brown

Opinion poll raises pressure on Brown

Britain's governing Labour Party fell further behind the opposition Conservatives in a poll on Thursday, increasing pressure on Prime Minister Gordon Brown before a party conference at which he will fight for his job.
Published 19 Sep, 2008 12:00am
Japan shoots down dummy ballistic missile in test

Japan shoots down dummy ballistic missile in test

Japan's military successfully shot down a dummy ballistic missile in a joint test with the United States, the Defence Ministry said on Thursday, days after reports that North Korea had tested new missile engines. The joint test was the latest step in Toky
Published 19 Sep, 2008 12:00am
US Senate passes $612 billion defence spending bill

US Senate passes $612 billion defence spending bill

The US Senate late on Wednesday overwhelmingly approved a $612.5 billion defence spending bill for fiscal 2009, including $70 billion for operations in Iraq and Afghanistan. As passed on an 88-8 vote, the measure would authorise $103.9 billion for Pentago
Published 19 Sep, 2008 12:00am
Australian parliament opposes uranium to Russia

Australian parliament opposes uranium to Russia

A powerful Australian parliamentary committee urged the government to postpone plans to sell uranium to Russia on Thursday, saying it could not be sure Moscow would continue to honour non-proliferation obligations. The committee, dominated by members of t
Published 19 Sep, 2008 12:00am
Opposition says Germany covered up Iraq spy role

Opposition says Germany covered up Iraq spy role

German spies in Baghdad actively supported the 2003 US invasion of Iraq despite government denials, opposition parties said on Thursday before the two secret agents' testimony to a parliamentary panel. "The records unfortunately contradict completely the
Published 19 Sep, 2008 12:00am
Seven US troops killed in Iraq helicopter crash

Seven US troops killed in Iraq helicopter crash

Seven US soldiers were killed when a Chinook transport helicopter crashed in southern Iraq on Thursday, the US military said. A military spokesman said it appeared mechanical failure was the cause of the crash of the CH-47 Chinook helicopter just after mi
Published 19 Sep, 2008 12:00am
Women in majority in Rwanda legislature

Women in majority in Rwanda legislature

Women won at least 44 out of 80 seats in Rwanda's legislative elections, making the central African country the first in the world where men are outnumbered in the national assembly, the electoral commission said Thursday. According to provisional results
Published 19 Sep, 2008 12:00am
Sterling trims gains

Sterling trims gains

Sterling trimmed gains in late European trade as the dollar benefited from a rebound in US stocks triggered by coordinated central bank action to help beleaguered money markets. The US Federal Reserve said it would expand its reciprocal currency agreement
Published 19 Sep, 2008 12:00am
Dollar hits three-week low

Dollar hits three-week low

The dollar hit a three-week low against a basket of currencies and dropped sharply against the euro on Thursday, as investors shone a spotlight on US financial sector health and jammed-up money markets. Underscoring the seriousness of the situation in ban
Published 19 Sep, 2008 12:00am
Indian rupee softens

Indian rupee softens

The Indian rupee trimmed losses to close at the day's high on Thursday helped by dollar selling by the central bank and a recovery in the local share market, which slumped more than 5 percent in early trade. The partially convertible rupee ended at 46.42/
Published 19 Sep, 2008 12:00am
Taiwan stocks drop

Taiwan stocks drop

Taiwan stocks dropped 2.74 percent on Thursday to near a three-year closing low as banking shares such as Shin Kong Financial followed a Wall Street slump caused by a global financial crisis. The main TAIEX share index fell to an intraday low not seen in
Published 19 Sep, 2008 12:00am
Seoul shares sink

Seoul shares sink

Seoul shares closed 2.3 percent lower on Thursday, recovering slightly from losses of over 4 percent in the session, after US shares dived on persistent financial fears and sent Asian indexes sharply lower. The slide came despite the announcement on Thurs
Published 19 Sep, 2008 12:00am
Philippines shares tumble

Philippines shares tumble

Philippines share prices plummeted 4.25 percent on Thursday, pulled down by the financial turmoil in the United States, dealers said. The composite index fell 104.63 points to 2,352.37 points, while the all-shares index fell 3.68 percent to 1,502.15 point
Published 19 Sep, 2008 12:00am
European credit spreads volatile

European credit spreads volatile

European credit spreads were volatile on Thursday, paring gains on uncertainty about the future of the investment banking industry as Morgan Stanley became the latest bank to seek a buyer for its business. By 1530 GMT, the investment-grade Markit iTraxx E
Published 19 Sep, 2008 12:00am
European credit spreads volatile

European credit spreads volatile

European credit spreads were volatile on Thursday, paring gains on uncertainty about the future of the investment banking industry as Morgan Stanley became the latest bank to seek a buyer for its business. By 1530 GMT, the investment-grade Markit iTraxx E
Published 19 Sep, 2008 12:00am
Asian bond spreads fall

Asian bond spreads fall

Asian bonds prices fell and the cost of insuring debt across the region rose as investor sentiment was slammed by the deepening credit crisis that has sent financial firms scrambling to find buyers.
Published 19 Sep, 2008 12:00am
Asian bond spreads fall

Asian bond spreads fall

Asian bonds prices fell and the cost of insuring debt across the region rose as investor sentiment was slammed by the deepening credit crisis that has sent financial firms scrambling to find buyers.
Published 19 Sep, 2008 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's top share index ended 0.7 percent lower on Thursday in choppy trade as volatility reigned despite a concerted move by central banks to boost liquidity and Lloyds TSB's deal to buy HBOS. Investors were also edgy ahead of Friday's futures and opti
Published 19 Sep, 2008 12:00am
New York cotton futures marginally down

New York cotton futures marginally down

Cotton futures ended easier on Thursday on fund sales as the market followed other commodities which rose early and then reeled late because investors remained gloomy about economic prospects, brokers said. The benchmark December cotton contract fell 0.66
Published 19 Sep, 2008 12:00am
Copper springs back

Copper springs back

Copper bounced from a nine-month low on Thursday on euro gains against the US dollar, providing a temporary breather, but turbulent markets capped gains. Aluminium dropped to its lowest since January and nickel was at its weakest level since April 2006, b
Published 19 Sep, 2008 12:00am
Oil falls as US refiners seen recovering

Oil falls as US refiners seen recovering

Oil fell on Thursday, dragged down by gasoline futures as US refiners made progress in restarting operations following Hurricane Ike. US crude fell 79 cents at $96.37 a barrel at 1644 GMT, after touching a high of $102.24 earlier. It had gained $6 on Wedn
Published 19 Sep, 2008 12:00am
London soft commodities rally

London soft commodities rally

Soft commodity futures rallied in sympathy with a rebound in global markets aided by a weakening dollar on Thursday, and sugar was underpinned by a huge Malaysian deal, dealers said. "The (Malaysian) business has lifted the floor a bit," said James Kirkup
Published 19 Sep, 2008 12:00am
London gold hits six-week high

London gold hits six-week high

Gold hit a near six-week high on Thursday in choppy trade as traders rushed to buy it as a safe haven on fears of more trouble ahead for the financial sector. A bounce in US equities after a central bank liquidity injection into the money market brought t
Published 19 Sep, 2008 12:00am
US MIDDAY: cocoa soars seven percent

US MIDDAY: cocoa soars seven percent

US cocoa futures rocketed 7 percent in early trade on Thursday, as fund and investor buying poured into the market on the heels of rallying crude and gold, while arabica coffee was also firm, traders said. Arabica coffee for December delivery was up 1.30
Published 19 Sep, 2008 12:00am
US MIDDAY: sugar up

US MIDDAY: sugar up

Raw sugar on ICE Futures US at 1247 GMT. March raw sugar contract rose 0.37 cent to 14.30 cents per lb. Trading range from 14 to 14.31 cents. Volume was at 18,629 lots.
Published 19 Sep, 2008 12:00am
US MIDDAY: corn weakens

US MIDDAY: corn weakens

December corn was down 25 cents at $5.29 per bushel. Setback in crude oil and financial sector worries send corn market plunging lower, with spot December briefly dropping the 30-cent daily limit. Macroeconomic worries keep fundamental supply/demand conce
Published 19 Sep, 2008 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

December wheat was down 29-1/2 cents at $6.96-1/4 per bushel. Pressured as a retreat in crude oil and concerns about financial sector turmoil spark long liquidation. Morgan Stanley maintains wheat outlook at $7 for 2008/09 and 2009/10.
Published 19 Sep, 2008 12:00am
US MIDDAY: soyabeans lower

US MIDDAY: soyabeans lower

November soyabean were down 31 cents at $11.08 per bushel, January was down 30-1/2 at $11.22-3/4. Retreating as crude oil turns lower and financial sector turmoil sparks long liquidation. October soyameal was down $10 at $312.70 per ton. October soyaoil w
Published 19 Sep, 2008 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures rebounded from a nine-month low early Thursday as buying emerged again near $3.00 a lb and sentiment improved after a move by global central banks to pump liquidity into money markets lifted world stocks. Copper for December delivery was
Published 19 Sep, 2008 12:00am
US MIDDAY: gold hits six-week high

US MIDDAY: gold hits six-week high

US gold futures rose to a 6-week high early on Thursday, extending Wednesday's fast-paced rally as investors sought precious metals as a safe haven after central banks injected liquidity to calm nerves in global markets. December gold was up $22.20, or 2.
Published 19 Sep, 2008 12:00am
Smeda NWFP holds Iftar for business community

Smeda NWFP holds Iftar for business community

The provincial office of Small & Medium Enterprise Development Authority (Smeda) held Iftar dinner for the local industrialists and traders here in its office at State Life Building.
Published 19 Sep, 2008 12:00am
Rising number of beggars posing security threat

Rising number of beggars posing security threat

The number of beggars has substantially increased in the federal capital during the month of Ramazan, which is not only a source of distraction but also posing a security risk.
Published 19 Sep, 2008 12:00am
A challenge

A challenge

Now, when the elections are over and the overall power is bestowed to Pakistan Peoples Party, it is in fact a big challenge for Zardari to cut a brilliant figure to take the country towards prosperity apart from the solution of the existing extremely diff
Published 19 Sep, 2008 12:00am
Balochistan gold mines

Balochistan gold mines

Reko Diq is a small town in Chagai district, Balochistan. World's 5th largest gold and copper reserves are found in Reko Diq. Tethyan Copper of Australia has taken the contract to develop this mine. Barrick Gold Corporation of Canada and Antofagasta of Ch
Published 19 Sep, 2008 12:00am
Kidney Hill scam

Kidney Hill scam

Time and again it has been proven that Karachi's public parks are up for grabs. The Kidney Hill land earmarked as a public utility park, has been successfully occupied by Overseas Housing Society with the help of city government after 16 years of litigati
Published 19 Sep, 2008 12:00am
Water shortage cripples Palestinian farming

Water shortage cripples Palestinian farming

In the plains around the village of Bardala, the Israeli-Palestinian tug-of-war over land and water plays itself out in vivid colour - largely brown Palestinian farms border green fields owned by Jewish settlers. Israel and the occupied West Bank have bot
Published 19 Sep, 2008 12:00am
India's iconic electric car gets volt of energy

India's iconic electric car gets volt of energy

Long before "green" cars became trendy in other parts of the world, a boxy electric two-seater began rolling out of a small factory in the Indian city of Bangalore, which was then emerging as a software services hub. Today, scores of Reva electric cars ca
Published 19 Sep, 2008 12:00am
Pakistan's vicious financial and economic circle

Pakistan's vicious financial and economic circle

The fact that inflation is rising almost everywhere suggests some of its causes are global. For now, rising food and energy prices are inflation's prime drivers. Core inflation, a measure that excludes volatile food and energy prices, is not rising as qui
Published 19 Sep, 2008 12:00am
Onward with clean cotton

Onward with clean cotton

Talking to newsmen the other day, on the woes of the country's cotton economy, among other things, Pakistan Cotton Ginners Association (PCGA) Chairman Muhammad Akram, stressed the need for the textile and agriculture ministries and the All Pakistan Textil
Published 19 Sep, 2008 12:00am
Gazin Marri's meeting with Zardari

Gazin Marri's meeting with Zardari

The fast tempo of developments in the tribal north-west tends to steal the media limelight relegating the trouble in Balochistan to the back burner, although, strategically speaking, the latter is far more consequential to the national unity and integrity
Published 19 Sep, 2008 12:00am
Ruling out the risk of default

Ruling out the risk of default

In a meeting convened by the Planning Commission in connection with the preparation of its five-year development plan, some leading lights of the bureaucracy highlighted certain important aspects of the economy.
Published 19 Sep, 2008 12:00am
Piaf welcomes World Bank offer to develop Thar Coal reserves

Piaf welcomes World Bank offer to develop Thar Coal reserves

Pakistan Industrial and Traders Associations Front (PIAF), while welcoming the World Bank offer to develop Thar Coal reserves, hoped the government will accept this offer as the exploration of coal will help generate cheaper electricity to bridge demand a
Published 19 Sep, 2008 12:00am
LHC summons DPO, SHO

LHC summons DPO, SHO

The Lahore High Court (LHC) has summoned District Police Officer (DPO) Gujarat and Station House Officer (SHO) police station Jalalpur Jattan on Friday (today) in relation to a petition of a PML-Q activist Chaudhry Afghan Farooq against police harassment
Published 19 Sep, 2008 12:00am
KCCI co-opts three managing committee members

KCCI co-opts three managing committee members

The managing committee of Karachi Chamber of Commerce and Industry (KCCI) on Thursday co-opted Anjum Nisar, Javaid Bilwani and Mohammed Ali against three vacant seats of the managing committee. Their co-option came after the resignation of Amin Bandukda,
Published 19 Sep, 2008 12:00am
CCAC stops uplift work: CDGK owes Rs 740 million to contractors

CCAC stops uplift work: CDGK owes Rs 740 million to contractors

The protesting contractors have declared to stop all development and maintenance work across the metropolis, as the City District Government Karachi (CDGK) has failed to pay their years-old outstanding bills worth around Rs 740 million.
Published 19 Sep, 2008 12:00am
Cabinet body reviews NAB Ordinance 1999

Cabinet body reviews NAB Ordinance 1999

Law Minister Farooq H Naek on Thursday said certain international accountability best practices could be incorporated into NAB Ordinance 1999 for bringing transparency in accountability process. This he said while speaking at the first meeting of the Cabi
Published 19 Sep, 2008 12:00am
Government committed to serve masses: Khursheed

Government committed to serve masses: Khursheed

Federal Minister for Manpower and Overseas Pakistanis, Syed Khursheed Ahmed Shah has said that the country is facing serious challenges and the government is committed to serve the cause of the people without discrimination. He was talking to various dele
Published 19 Sep, 2008 12:00am
Launch of Rs 34 billion BISP an Eid-gift: Gilani

Launch of Rs 34 billion BISP an Eid-gift: Gilani

Launch of Rs 34 billion Benazir Income Support Programme (BISP) before Eid will be an Eid-gift by the democratic government to the targeted population of 3.4 million poorest of the poor households throughout the country, said Prime Minister Yousuf Raza Gi
Published 19 Sep, 2008 12:00am
Government committed to rehabilitate quake victims: Prime Minister

Government committed to rehabilitate quake victims: Prime Minister

Prime Minister Syed Yousaf Raza Gilani has said that the government is committed towards the rehabilitation of the earthquake victims and would look forward to your continued support, in the accomplishment of the task of converting this adversity into opp
Published 19 Sep, 2008 12:00am
LNG Project: a clarification

LNG Project: a clarification

Sui Southern Gas Company Limited (SSGC) has clarified the news item, which appeared in 'Business Recorder', Karachi on 17th September, 2008 titled 'LNG Import Terminals at PQA: ECC declines approval for SSGC project'. According to the company's spokespers
Published 19 Sep, 2008 12:00am
Punjab University reviews foreign PhD scholarships' status

Punjab University reviews foreign PhD scholarships' status

Punjab University Vice-Chancellor on Thursday chaired a meeting of the PU Faculty Development Committee to review current status of the foreign PhD scholarships given to the PU faculty members and scholars by the Higher Education Commission (HEC).
Published 19 Sep, 2008 12:00am
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