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Print - 2008-10-11
Takashimaya, H2O plan to merge in three years

Takashimaya, H2O plan to merge in three years

Takashimaya Co, Japan's third-biggest department store operator, and smaller rival H2O Retailing plan to buy stakes in each other as a first step towards a merger to survive in the country's mature retail market. Takashimaya had been the country's top dep
Published 11 Oct, 2008 12:00am
General Motors shares drop to 58-year low, global risks eyed

General Motors shares drop to 58-year low, global risks eyed

General Motors Corp shares plunged to their lowest level since 1950 on Thursday as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009.
Published 11 Oct, 2008 12:00am
General Motors shares drop to 58-year low, global risks eyed

General Motors shares drop to 58-year low, global risks eyed

General Motors Corp shares plunged to their lowest level since 1950 on Thursday as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009.
Published 11 Oct, 2008 12:00am
Thai shares close 9.61 percent lower

Thai shares close 9.61 percent lower

Thai share prices closed 9.61 percent lower on Friday, amid concerns about the global financial crisis and domestic turmoil from anti-government protests in Bangkok, dealers said. The Stock Exchange of Thailand (SET) composite index fell 48.03 points to c
Published 11 Oct, 2008 12:00am
Hong Kong shares end at three-year low

Hong Kong shares end at three-year low

Hong Kong shares sank 7.2 percent to a nearly three-year low on Friday, mirroring sell-offs in markets across the globe as investors worried about the risks of a global recession. The main index dropped 16.3 percent, or more than 2,800 points, in its wors
Published 11 Oct, 2008 12:00am
US stocks decline

US stocks decline

US stocks plummeted for a seventh straight session on Thursday as investors bet recent moves by authorities world-wide to thaw frozen credit markets would not be enough to avert a global recession. An avalanche of selling at the close left the Dow below 8
Published 11 Oct, 2008 12:00am
Indian shares 7.07 percent down

Indian shares 7.07 percent down

Indian shares closed down 7.07 percent on Friday, despite an injection of liquidity from the Reserve Bank, on growing fears over a deepening global financial crisis and weak economic data, dealers said. The benchmark 30-share Sensex index fell 800.51 poin
Published 11 Oct, 2008 12:00am
US Treasury prices drop

US Treasury prices drop

US Treasury debt prices dropped rapidly on Thursday despite panicked selling in the stock market, as traders feared a looming swath of new government bond issuance would weigh on the market. Dealers worried the Treasury's $700 billion bailout package will
Published 11 Oct, 2008 12:00am
US Treasury prices drop

US Treasury prices drop

US Treasury debt prices dropped rapidly on Thursday despite panicked selling in the stock market, as traders feared a looming swath of new government bond issuance would weigh on the market. Dealers worried the Treasury's $700 billion bailout package will
Published 11 Oct, 2008 12:00am
Philippines shares slump

Philippines shares slump

Philippines share prices closed 8.3 percent lower on Friday, their single biggest fall in more than 10 years, amid a global rout of world markets, dealers said. The composite index lost 190.64 points to 2,097.80. The drop was the worst since the onset of
Published 11 Oct, 2008 12:00am
Singapore shares sharply fall

Singapore shares sharply fall

Singapore shares closed 7.34 percent lower on Friday, joining a downward spiral on global bourses over fears authorities are unable to contain a world financial crisis, dealers said. The blue chip Straits Times Index ended down 154.38 points at 1,948.33 -
Published 11 Oct, 2008 12:00am
Nikkei slips 9.6 percent

Nikkei slips 9.6 percent

Japan's Nikkei share average plunged 9.6 percent on Friday for its biggest drop since the 1987 stock crash, wiping out $202 billion in market value on growing fears that the financial crisis will spark a global recession. The Nikkei, which has fallen for
Published 11 Oct, 2008 12:00am
Malaysian stocks 3.6 percent lower

Malaysian stocks 3.6 percent lower

Malaysian share prices closed 3.6 percent lower on Friday as world-wide markets went into a tailspin, dealers said. The Kuala Lumpur Composite Index lost 34.88 points to 934.01, off a low of 931.79. Turnover was at 739.38 million shares valued at 1.6 bill
Published 11 Oct, 2008 12:00am
Yuan falls but mid-point lends stability

Yuan falls but mid-point lends stability

The yuan fell moderately against the dollar in the spot and offshore forwards markets on Friday, but the Chinese central bank helped to stabilise the spot market once again by setting a nearly flat reference rate. Before spot trade began on Friday, the ce
Published 11 Oct, 2008 12:00am
Yen jumps as spreading market panic

Yen jumps as spreading market panic

The safe-haven yen jumped on Friday, hitting a three-year high against the euro as the panic gripping investors deepened on fears that the global financial system is faltering.
Published 11 Oct, 2008 12:00am
US dollar up

US dollar up

The US dollar edged higher again on Thursday as short term interest rates for dollars continued to rise on global money markets, despite co-ordinated efforts by many central banks this week to ease the credit crisis. Despite unprecedented efforts by centr
Published 11 Oct, 2008 12:00am
Australian dollar near multi-year lows

Australian dollar near multi-year lows

The Australian dollar dropped back towards multi-year lows on Friday, posting its biggest weekly decline since being floated in 1983, as panicky investors dumped higher-yielding currencies on fears of a global recession. Investors flocked to the relative
Published 11 Oct, 2008 12:00am
Asian currencies slide

Asian currencies slide

Asian currencies were battered on Friday as investors dumped stocks amid the financial turmoil despite a round of global interest rate cuts, prompting dollar-selling intervention in South Korea, Indonesia and India. The Indonesian rupiah fell as far as 9,
Published 11 Oct, 2008 12:00am
Swiss franc at four-year high

Swiss franc at four-year high

The Swiss franc hit a four-year high against the euro on Friday as panicked investors fled from stocks and feared for the global financial system. The franc also gained against the dollar, benefiting from its status as a safe-haven currency during times o
Published 11 Oct, 2008 12:00am
Plummeting South Africa face more humiliation

Plummeting South Africa face more humiliation

Financial stocks and shares were not the only items plummeting this week as the football fortunes of 2010 World Cup hosts South Africa took another nosedive. The effect of a disastrous 2010 World Cup-African Nations Cup second round qualification campaign
Published 11 Oct, 2008 12:00am
Federer confirms return at Madrid Masters

Federer confirms return at Madrid Masters

World number two Roger Federer has confirmed he will take part in the Madrid Masters event next week, after a three week layoff. "It is great to know we can count on Federer's participation for another year," competition organiser Manolo Santana was quote
Published 11 Oct, 2008 12:00am
Stanford Twenty20 match to go ahead

Stanford Twenty20 match to go ahead

The $20 million winner-takes-all Twenty20 Stanford match between England and a West Indies' side in Antigua on November 1 will go ahead after an agreement was reached over sponsorship rights. A statement on Thursday from Allen Stanford, who is bankrolling
Published 11 Oct, 2008 12:00am
Capello demands encore from England as Terry ruled out

Capello demands encore from England as Terry ruled out

Fabio Capello on Friday warned England that their impressive win in Croatia last month will count for nothing if they fail to beat Kazakhstan's mystery men at Wembley on Saturday. England go into their third World Cup qualifier under the Italian looking t
Published 11 Oct, 2008 12:00am
Bangladesh skipper eyes more success after New Zealand win

Bangladesh skipper eyes more success after New Zealand win

Bangladesh skipper Mohammad Ashraful Friday said his team are well on the way to becoming a competitive force after beating New Zealand for the first time in 12 one-day internationals. Bangladesh upset the Black Caps here on Thursday to go 1-0 up in the t
Published 11 Oct, 2008 12:00am
India start well after Hussey's stubborn century

India start well after Hussey's stubborn century

India made a spirited reply to Australia's 430 in the first Test here on Friday, reaching 68 without loss in their first innings by the close of the second day's play. Openers Virender Sehwag and Gautam Gambhir negotiated a tricky 18.1 overs before heavy
Published 11 Oct, 2008 12:00am
Government activist seeks to improve French ghettos

Government activist seeks to improve French ghettos

There is no quick fix to the problems of France's suburban ghettos, which made world headlines during weeks of rioting in 2005, but activist-turned-minister Fadela Amara says the government is finally on the right track. President Nicolas Sarkozy caused a
Published 11 Oct, 2008 12:00am
Stone says no malice intended in Bush film 'W'

Stone says no malice intended in Bush film 'W'

Oliver Stone's film portrait of US President George W. Bush was always going to be controversial given the director's liberal leanings. So Stone decided to open "W." in US theatres less than three weeks before Americans select their next president - a cal
Published 11 Oct, 2008 12:00am
Green alarm as EU ministers mull climate opt-outs

Green alarm as EU ministers mull climate opt-outs

France, Germany and Austria called on Friday for an easing of EU climate ambitions to help industries facing an economic downturn, causing green groups to warn that the battle against climate change was in jeopardy.
Published 11 Oct, 2008 12:00am
Israeli town hit by third day of Jewish-Arab clashes

Israeli town hit by third day of Jewish-Arab clashes

Police clashed with Jewish protesters in Acre on Friday as Foreign Minister Tzipi Livni travelled to the northern Israeli city to appeal for calm after two days of clashes between Arab and Jews. Police fired a water cannon at the crowd of about 200 people
Published 11 Oct, 2008 12:00am
Thai protest leaders get bail

Thai protest leaders get bail

Leaders of a long-running protest in Thailand were released on bail on Friday after surrendering to police on charges of inciting unrest, leaving them free to continue their five-month campaign to unseat the government.
Published 11 Oct, 2008 12:00am
Singapore police chief elected Interpol president

Singapore police chief elected Interpol president

Singapore Police Commissioner Khoo Boon Hui was elected the new president of Interpol on Friday, the international police organisation said. Delegates chose Khoo at the end of the general assembly of the 187-country police organisation in Saint Petersburg
Published 11 Oct, 2008 12:00am
Obama focuses on economy, rejects McCain attacks

Obama focuses on economy, rejects McCain attacks

Democratic presidential nominee Barack Obama said on Friday a mounting financial crisis required co-ordinated international action as he focused on the US economy and rejected Republican John McCain's personal attacks.
Published 11 Oct, 2008 12:00am
Uzbek reporter gets 10 years

Uzbek reporter gets 10 years

An independent Uzbek journalist who worked for Western media outlets was sentenced to 10 years in prison on drug charges Friday, his lawyer said, in a case condemned by human rights groups. Solijon Abdurakhmanov, 58, was convicted of drug possession with
Published 11 Oct, 2008 12:00am
China military decries US arms package for Taiwan

China military decries US arms package for Taiwan

A Chinese military spokesman said relations with the United States are sure to suffer after Washington announced a big arms package for disputed Taiwan, warning high-level contacts could be frozen. China claims Taiwan, divided from the mainland since 1949
Published 11 Oct, 2008 12:00am
Amnesty urges India, Soth Korea and Taiwan to end executions

Amnesty urges India, Soth Korea and Taiwan to end executions

India, South Korea and Taiwan should join the global trend and immediately establish a moratorium on the death penalty, rights group Amnesty International said Friday. In an appeal to mark World Day Against the Death Penalty, Amnesty said these three nati
Published 11 Oct, 2008 12:00am
Two old rivals now duel for Maldives presidency

Two old rivals now duel for Maldives presidency

Maldives' first free presidential race on Friday became a duel between Asia's longest-serving leader and the pro-democracy activist he jailed dozens of times, who said he now has a unified opposition behind himself. Even before the electoral commission an
Published 11 Oct, 2008 12:00am
Saudi-owned TV website hit by cyber attack

Saudi-owned TV website hit by cyber attack

Computer hackers claiming to be Shiite shut down the website of Saudi-owned satellite channel Al-Arabiya on Friday, a month after Iran reported similar attacks on many of its websites by hard-line Sunnis. The website of the Dubai-based channel was taken o
Published 11 Oct, 2008 12:00am
Risk aversion boosts yen

Risk aversion boosts yen

Risk aversion buoyed the Japanese yen broadly in highly volatile trade on Friday as investors cut their exposure to riskier assets on deepening fears about the global financial system. A belief that myriad measures taken by global governments to ease pres
Published 11 Oct, 2008 12:00am
Sterling hovers above five-year low

Sterling hovers above five-year low

Sterling stood near five-year lows hit earlier against the dollar on Friday, pressured by a flight from riskier assets as global stock markets tumbled. Investors cut exposure to risk and sold bond holdings for cash on fears of a global financial system me
Published 11 Oct, 2008 12:00am
Indian rupee hits record low

Indian rupee hits record low

The Indian rupee bounced off a record low on Friday after the central bank sold dollars through state-run banks in an attempt to prevent the currency from further steep falls as the stock market dropped sharply. The partially convertible rupee ended at 48
Published 11 Oct, 2008 12:00am
Crossover index hits record wide, more pain to come

Crossover index hits record wide, more pain to come

European speculative-grade credit spreads surged to record wides on Friday as investors hedged against dumped loans, global stock markets plummeted and fears grew that funding holes will push companies to default. By 1547 GMT, the Markit iTraxx Crossover
Published 11 Oct, 2008 12:00am
Crossover index hits record wide, more pain to come

Crossover index hits record wide, more pain to come

European speculative-grade credit spreads surged to record wides on Friday as investors hedged against dumped loans, global stock markets plummeted and fears grew that funding holes will push companies to default. By 1547 GMT, the Markit iTraxx Crossover
Published 11 Oct, 2008 12:00am
Seoul shares down

Seoul shares down

Seoul shares closed 4.13 percent down on Friday but more than halved an earlier 9 percent fall, after heads of South Korean brokerages met to propose a market stabilisation fund, and as the won currency rebounded. The Korea Composite Stock Price Index clo
Published 11 Oct, 2008 12:00am
Chinese stocks plummet

Chinese stocks plummet

The Chinese stock market fell sharply on Friday because of the crash of global share prices, but China outperformed Asia as banking stocks came well off early lows on hopes for government intervention. The Shanghai Composite Index ended down 3.57 percent
Published 11 Oct, 2008 12:00am
Jakarta remains shut

Jakarta remains shut

Indonesia suspended trading on the local stock exchange for a third day running Friday on fears of following Asian markets on their nightmare downward slide, an official said. The management of the Indonesia Stock Exchange decided to extend the suspension
Published 11 Oct, 2008 12:00am
Asian credit default costs soar to record

Asian credit default costs soar to record

The cost of protection against defaults in Asian debt soared to record highs on Friday amid fears the financial crisis could soon spread to the region, especially to countries such as Indonesia and South Korea. The widening spreads in regional credit defa
Published 11 Oct, 2008 12:00am
Asian credit default costs soar to record

Asian credit default costs soar to record

The cost of protection against defaults in Asian debt soared to record highs on Friday amid fears the financial crisis could soon spread to the region, especially to countries such as Indonesia and South Korea. The widening spreads in regional credit defa
Published 11 Oct, 2008 12:00am
Moscow shut again, shares slump in London

Moscow shut again, shares slump in London

Russian Global Depository Receipts (GDRs) fell in line with a collapsing global stock market on Friday, while Moscow's bourses remained shut by order of the markets watchdog. The FTSE Russia IOB index, which contains some of the most liquid Russian GDRs,
Published 11 Oct, 2008 12:00am
FTSE slumps 8.9 percent, capping worst week since 1987

FTSE slumps 8.9 percent, capping worst week since 1987

Britain's top share index ended 8.9 percent lower Friday contributing to a 24 percent slump for the week, the second biggest weekly fall ever, as investors ran scared from the spectre of a full global recession. The FTSE 100 closed down 381.7 points at 3,
Published 11 Oct, 2008 12:00am
Engineers recommend high-rise construction to save land

Engineers recommend high-rise construction to save land

Several renowned foreign and Pakistani professional experts presented thought-provoking technical papers on 'Tunnelling, Deep Excavations and Sub-structures" here on Friday at a seminar organised by the Pakistani Geotechnical Engineering Society and stres
Published 11 Oct, 2008 12:00am
Court notice issued to trade and commerce ministry

Court notice issued to trade and commerce ministry

The Lahore High Court (LHC) in a petition filed against the appointment of administrator in Gujrat Chamber of Commerce and Industry (GCCI), has issued notice to the Ministry of Trade and Commerce. The defunct President of GCCI, Yawar Rafique pleaded to th
Published 11 Oct, 2008 12:00am
PPP leaders enquires after Naveed's health

PPP leaders enquires after Naveed's health

A large number of leaders of Pakistan People's Party (PPP) on Friday visited the Sheikh Zayed Hospital to inquire about the health of its leader, Naveed Chaudhry, who was hospitalised a couple of days ago for throat complications.
Published 11 Oct, 2008 12:00am
50,000 CDs burnt in drive against vulgarity

50,000 CDs burnt in drive against vulgarity

Anjumm-e-Tajiran Hall Road on Friday burnt 50,000 Cds in a drive against vulgarity. President of the Khidmat group Anjuman-e-Tajiran Babar Mahmood told Business Recorder that the vulgar Cds were recovered from some shopkeepers of Zaitoon Plaza and
Published 11 Oct, 2008 12:00am
CPO summoned for not recovering abducted girl

CPO summoned for not recovering abducted girl

The Lahore High Court (LHC) has summoned City Police Officer (CPO) Faisalabad for October 13 for not recovering an abducted girl and arresting the culprits. The petition was filed by Azra Bibi submitting that the high court had directed the CPO to get her
Published 11 Oct, 2008 12:00am
Book containing objectionable material banned

Book containing objectionable material banned

A book titled 'The Duel: Pakistan on the Flight Path of American Power', written by journalist and activist, Tariq Ali and published by Simon and Schuster, has been banned in Pakistan for containing some objectionable material. Tahira Mazhar Ali, mother o
Published 11 Oct, 2008 12:00am
Smeda completes 10 years of operation

Smeda completes 10 years of operation

The Small and Medium Enterprises Development Authority (Smeda) will complete first decade of its operation on 13th of this month. Smeda Chief Executive Officer Shahid Rashid will present a review of the services rendered by the Authority for development o
Published 11 Oct, 2008 12:00am
New York cotton near 1-1/2 year low, outlook poor

New York cotton near 1-1/2 year low, outlook poor

Cotton futures closed near a 1-1/2 year low Friday as the selling spree from the global financial crisis and a very bearish government crop report deflated the market, brokers said. The benchmark December cotton contract dropped the 3.00-cent limit to con
Published 11 Oct, 2008 12:00am
Copper slumps 14 percent

Copper slumps 14 percent

Copper slumped 14 percent to its lowest level in nearly three years on Friday in a commodities-wide sell-off triggered by deepening worries over the prospect of a global recession.
Published 11 Oct, 2008 12:00am
Oil drops 10 percent on demand, risk concerns

Oil drops 10 percent on demand, risk concerns

Oil prices dropped more than 10 percent on Friday and touched 13-month lows in a global flight from risk amid concerns of a world-wide recession and further signs of slumping energy demand. The International Energy Agency slashed its estimate of worldwide
Published 11 Oct, 2008 12:00am
Oil drops 10 percent on demand, risk concerns

Oil drops 10 percent on demand, risk concerns

Oil prices dropped more than 10 percent on Friday and touched 13-month lows in a global flight from risk amid concerns of a world-wide recession and further signs of slumping energy demand. The International Energy Agency slashed its estimate of worldwide
Published 11 Oct, 2008 12:00am
Oil drops 10 percent on demand, risk concerns

Oil drops 10 percent on demand, risk concerns

Oil prices dropped more than 10 percent on Friday and touched 13-month lows in a global flight from risk amid concerns of a world-wide recession and further signs of slumping energy demand. The International Energy Agency slashed its estimate of worldwide
Published 11 Oct, 2008 12:00am
London cocoa, sugar hit new lows

London cocoa, sugar hit new lows

Cocoa and sugar slumped to multi-month lows on Friday and coffee prices fell, swept lower by a broad-based decline in commodity markets on fears the credit crisis could push the world into recession. "It is a mixture of small speculators, funds and a litt
Published 11 Oct, 2008 12:00am
Gold slips in London

Gold slips in London

Gold slipped nearly 2 percent on Friday after earlier touching a 2-1/2 month high as a slide in the global equity markets sparked a broad-based commodities sell-off. Platinum, palladium and silver all tumbled, reflecting losses in crude oil, industrial me
Published 11 Oct, 2008 12:00am
US MIDDAY: cocoa plummets

US MIDDAY: cocoa plummets

US cocoa futures trading on ICE tumbled in early trade on Friday, while arabica coffee was also down, but well off its lows, as global markets swooned on credit-crunch fears, traders said.
Published 11 Oct, 2008 12:00am
US MIDDAY: sugar drops

US MIDDAY: sugar drops

Raw sugar futures on ICE Futures US at 1306 GMT. March raw sugar contract dropped 0.55 cent or 4.6 percent to 11.35 cents per lb. Ranged from contract low 11.34 cents to 11.77 cents.
Published 11 Oct, 2008 12:00am
US MIDDAY: corn down limit

US MIDDAY: corn down limit

December corn was down the 30-cent limit at $4.08-1/4 per bushel, March was down 30 at $4.25-3/4. Contracts fell the daily 30-cent limit on weak global stock markets, plus bearish US corn production and ending stocks data in USDA's October supply/demand r
Published 11 Oct, 2008 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

December wheat was down 37 cents at $5.67-3/4 per bushel; March was down 38-1/2 at $5.87-1/2. Fell to a 16-month low in spot month, weighed down by global financial turmoil and spillover from weak corn and soya.
Published 11 Oct, 2008 12:00am
US MIDDAY: soyabeans down 70 cent limit

US MIDDAY: soyabeans down 70 cent limit

November soyabean futures were down the 70-cent limit at $9.10 per bushel, January was down 70 at $9.25-1/2. Nearby months limit-down on weak global stock markets and bearish US soya production and ending stocks data in USDA's October supply/demand report
Published 11 Oct, 2008 12:00am
US MIDDAY: copper dives to 33-month low

US MIDDAY: copper dives to 33-month low

US copper futures regained composure at sharply lower levels after a wave of panic selling took metal to its lowest level since January 2006, and hit financial, energy and commodity markets in early Friday dealings. Traders said a lack of confidence in ec
Published 11 Oct, 2008 12:00am
US MIDDAY: gold slips two percent

US MIDDAY: gold slips two percent

Gold slipped nearly 2 percent on Friday after earlier touching a 2-1/2 month high as a slide in the global equity markets sparked a broad-based commodities sell-off. Platinum, palladium and silver all tumbled, reflecting losses in crude oil, industrial me
Published 11 Oct, 2008 12:00am
Young Muslim advisory group launched in UK

Young Muslim advisory group launched in UK

The UK Minister for Communities, Hazel Blears and Children and Families Minister, Ed Balls launched a new Young Muslim Advisory Group recently, unveiling the names of the 22 young people who will act as advisors to the UK government, said a press release
Published 11 Oct, 2008 12:00am
Wajid to present credentials to British Queen

Wajid to present credentials to British Queen

Pakistan High Commissioner to the United Kingdom Wajid Shamsul Hasan will formally present his credentials to the British monarch Queen Elizabeth at the Buckingham Palace on October 15.
Published 11 Oct, 2008 12:00am
US forms telemedicine PPP to overcome healthcare imbalance

US forms telemedicine PPP to overcome healthcare imbalance

The US State Department on Friday formed a telemedicine public-private partnership (PPP) in Pakistan to provide and deliver high quality medical services for patients in remote areas, which were otherwise lacking or absent.
Published 11 Oct, 2008 12:00am
TFK receive phenomenal response from taxpayers

TFK receive phenomenal response from taxpayers

The "Tax Facilitation Kiosks" (TFK) have received a phenomenal response from around 9000 new taxpayers, besides posting a collection of over 10,000 income tax returns in a short span of time. Israr Rauf, Director General, Regional Tax Office (RTO), Karach
Published 11 Oct, 2008 12:00am
Army plans to help grow domestic engineering industry

Army plans to help grow domestic engineering industry

Pakistan army plans to help domestic engineering industry to grow. And to achieve its goals, the Inspector of Technical Directorate (ITD), which works under the Chief of General Staff, is organising a seminar on "How to enhance user confidence in indigeno
Published 11 Oct, 2008 12:00am
'Museums being set up in Gujrat, Multan, Katas Raj'

'Museums being set up in Gujrat, Multan, Katas Raj'

Punjab Minister for Sports, Culture and Youth Affairs Dr Tanvir-ul-Islam has said that three museums are being set up in Gujrat, Multan and Katas Raj in the province, while the building of Kalar Kahar Museum is under-construction which will be completed s
Published 11 Oct, 2008 12:00am
'PML-N wants debate on strategy to fight terror war'

'PML-N wants debate on strategy to fight terror war'

Pakistan Muslim League-N central Vice President Makhdoom Javed Hashmi has said his party wants a debate on strategy to fight terror war while the government has only given a briefing on the military operation. Talking to newsmen here on Friday, Hashmi sai
Published 11 Oct, 2008 12:00am
Kayani inaugurates soldiers' living accommodation

Kayani inaugurates soldiers' living accommodation

Chief of the Army Staff (COAS) General Ashfaq Parvez Kayani, here on Friday inaugurated the newly constructed soldiers' living accommodation. This was stated in a press release of the Inter Services Public Relations (ISPR) issued here.
Published 11 Oct, 2008 12:00am
Partly Facetious: over-exposure erodes popularity

Partly Facetious: over-exposure erodes popularity

"Daler Mehndi met with senior government officials. I mean given the scale of our problems on the economic and the security front how do these guys find time to meet with singers and all types of riffraff floating into the country."
Published 11 Oct, 2008 12:00am
Security, what security?

Security, what security?

President Asif Ali Zardari offered Eid-ul-Fitr prayers at the Aiwan-e-Sadr and Prime Minister Syed Yousuf Ali Raza Gilani at the PM House.Likewise, residents of Islamabad were allowed to say the Eid prayers only in the mosques, and not in the grounds as i
Published 11 Oct, 2008 12:00am
Suggestions for sugar industry

Suggestions for sugar industry

In 1947 when this country came into being there were only two small units making sugar with annual capacity of 1500 tons of sugar.Today, there are 84 units producing sugar, 43 units in Punjab, 33 in Sindh, and 8 in NWFP.Total installed capacity is of over
Published 11 Oct, 2008 12:00am
Morocco launches offensive against radicalism

Morocco launches offensive against radicalism

Islamic law allows men to wed girls as young as nine years, because marriages to younger women often work out better - or so claims Moroccan theologist Mohammed Maghraoui. The fatwa (opinion on religious law) issued by Maghraoui in Marrakesh in early Sept
Published 11 Oct, 2008 12:00am
Poor take hits too as financial crisis moves beyond the rich

Poor take hits too as financial crisis moves beyond the rich

As the world's richest nations debate how to bring a catastrophic financial crisis under control, international groups are warning that its reach now goes far beyond the developed world. Poor countries in Africa, Asia and Latin America, which are already
Published 11 Oct, 2008 12:00am
Preparing for tomorrow - power for all!

Preparing for tomorrow - power for all!

The electric industry has evolved dramatically during the more than 100 years of its existence.Every industry can typically be characterised by a life cycle from infancy through maturity to possible demise or revitalisation.
Published 11 Oct, 2008 12:00am
Cottage level food units for Sindh

Cottage level food units for Sindh

The Institute of Food Science and Technology, Sindh Agriculture University (SAU), Tandojam, is reported to have planned creation of a Mobile Unit (MU) which could be made available at the doorsteps of needy people in rural areas by way of providing them w
Published 11 Oct, 2008 12:00am
The global financial crisis

The global financial crisis

On both sides of the Pacific and the Atlantic and the entire region extending to the Gulf States, no country remained immune from the global stock market meltdown that began this Monday.The US 700 billion dollars bailout package failed to restore confiden
Published 11 Oct, 2008 12:00am
Election plea hearing adjourned

Election plea hearing adjourned

The Lahore High Court (LHC) adjourned to November 17 the proceedings in an election petition challenging the victory of former Punjab health minister Dr Tahir Ali Javed from PP-133, Narowal as his counsel sought time to file his reply in the petition.
Published 11 Oct, 2008 12:00am
LHC adjourns hearing against Faisal Hayat

LHC adjourns hearing against Faisal Hayat

The Lahore High Court (LHC) here on Friday adjourned the hearing of an election petition against PML-Q MNA and former federal minister Faisal Saleh Hayat till October 31 as he did not appear before the court. The petition was filed by Abida Hussain who lo
Published 11 Oct, 2008 12:00am
Tehran Universit and UVAS sign MoU

Tehran Universit and UVAS sign MoU

The University of Tehran, Iran and the University of Veterinary and Animal Sciences (UVAS) Lahore have agreed to develop academic and cultural interchanges in education and research signed a memorandum of understanding (MoU) in this regard.
Published 11 Oct, 2008 12:00am
LCCI felicitates new PCB chief

LCCI felicitates new PCB chief

The Lahore Chamber of Commerce and Industry (LCCI) has congratulated former LCCI president Ejaz Butt for assuming charge as Pakistan Cricket Board (PCB) Chairman and hoped that his appointment would help boost the image of Pakistan besides strengthening P
Published 11 Oct, 2008 12:00am
People voted for change of system: PML-N

People voted for change of system: PML-N

The Central Finance Secretary of Pakistan Muslim L:eague-Nawaz (PML-N), Muhammad Pervez Malik has said that people had voted for change of system in February 18 elections but they are still waiting for fruits of restoration of democracy in the county.
Published 11 Oct, 2008 12:00am
PML-N determined to root out menace of terrorism

PML-N determined to root out menace of terrorism

The leader of Pakistan Muslim League (Nawaz), Mian Nawaz Sharif has said that his party is determined to root out the menace of terrorism, which has become a curse for the country. His statement came in the meeting with a delegation of the PML-N Women's W
Published 11 Oct, 2008 12:00am
Sub-inspector jailed

Sub-inspector jailed

The Lahore High Court (LHC) has sent a Sub-Inspector, Saeed Akhtar to jail charged with keeping two citizens behind the bars who were released by the court. The court staff handcuffed the cop and took him for further legal proceedings.
Published 11 Oct, 2008 12:00am
BISP to benefit downtrodden families: minister

BISP to benefit downtrodden families: minister

Senior Punjab Minister, Raja Riaz Ahmad has said that the government is giving special attention to improve and develop the social sector in the province. This will give people better facilities of education, healthcare, social development and provision o
Published 11 Oct, 2008 12:00am
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