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Print - 2008-10-18
Australia export prices boom, outlook darker

Australia export prices boom, outlook darker

Australia's export prices surged a record 13.8 percent last quarter thanks to past contract increases for coal, though a more recent tumble in commodity prices augurs ill for revenues ahead. Government figures on Friday showed coal prices were up a huge 7
Published 18 Oct, 2008 12:00am
Signs of capital outflows from China are murky

Signs of capital outflows from China are murky

The flow of speculative capital into China may be drying up, or even starting to reverse course, but analysts on Friday said the evidence was unclear and there was no cause for concern yet. China's official foreign exchange reserves, the world's largest,
Published 18 Oct, 2008 12:00am
Kuwait half year income exceeds full year target

Kuwait half year income exceeds full year target

Kuwait collected 14.52 billion KD (54 billion dollars) in revenue in the first six months of the fiscal year, above its budget target for the whole year, the finance ministry said on Thursday. The earnings are about 15 percent above projected revenues of
Published 18 Oct, 2008 12:00am
Tata Sons eyes stake in AIG Asia unit

Tata Sons eyes stake in AIG Asia unit

India's Tata Sons has been in talks to buy a stake in AIA, a major Asian unit of American International Group, according to sources close to the matter, as the US insurance giant seeks to sell assets after nearly collapsing last month.
Published 18 Oct, 2008 12:00am
Hong Kong shares at three-year low

Hong Kong shares at three-year low

Hong Kong shares fell 4.4 percent to a three-year closing low on Friday as investors exited equity holdings ahead of the weekend, following a week of sharp gains and steep slides amid looming fears of a global recession. The benchmark Hang Seng Index clos
Published 18 Oct, 2008 12:00am
US stocks close up

US stocks close up

US stocks leaped on Thursday, as investors snapped up beaten-down shares the day after Wall Street's worst day since the 1987 stock market crash while consumer companies gained as the price of oil fell. Discount retailers, such as Wal-Mart and healthcare
Published 18 Oct, 2008 12:00am
Thai shares tumble

Thai shares tumble

Thai share prices closed 1.34 percent lower on Friday following the regional trend amid persisting fears over the global financial crisis, dealers said. Concerns over political uncertainty in Thailand also drove the Thai index down, they said. The Stock E
Published 18 Oct, 2008 12:00am
Supply worries knock down US Treasury bills

Supply worries knock down US Treasury bills

US Treasury bills and long bonds ended weaker in erratic trading on Thursday amid concerns about increased borrowing and debt supply from the government to finance its massive financial bailout. The US Treasury sold $70 billion in cash management bills, b
Published 18 Oct, 2008 12:00am
Supply worries knock down US Treasury bills

Supply worries knock down US Treasury bills

US Treasury bills and long bonds ended weaker in erratic trading on Thursday amid concerns about increased borrowing and debt supply from the government to finance its massive financial bailout. The US Treasury sold $70 billion in cash management bills, b
Published 18 Oct, 2008 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 1.1 percent lower on Friday amid continued concern over the global financial crisis, dealers said. The composite index fell 24.11 points to 2,098.26, while the all-shares index fell 1.5 percent to 1,343.67 points. There wer
Published 18 Oct, 2008 12:00am
Singapore shares decline

Singapore shares decline

Singapore shares closed 3.73 percent lower on Friday after sentiment dimmed and wiped out earlier gains, dealers said. The blue chip Straits Times Index closed at a four-year low, down 72.69 points to 1,878.51 on volume of 1.23 billion shares worth 1.22 b
Published 18 Oct, 2008 12:00am
Seoul shares end at three-year low

Seoul shares end at three-year low

Seoul shares closed at their lowest in three years on Friday capping a roller-coaster five days in which they soared on relief over last weekend's global financial rescue plans only to crash late in the week on recession fears. The Korea Composite Stock P
Published 18 Oct, 2008 12:00am
Nikkei ends up 2.8 percent

Nikkei ends up 2.8 percent

Japan's Nikkei average gained 2.8 percent on Friday and ended the week up 5 percent a day after its biggest one-day loss since the 1987 crash, with worries about the global economy limiting gains by Canon Inc and other exporters. Investors turned sharply
Published 18 Oct, 2008 12:00am
Indian shares plunge 5.73 percent

Indian shares plunge 5.73 percent

Indian shares plunged 5.73 percent on Friday, closing below the key 10,000-point level, their lowest in 28 months on fears company profits would be hit by the global financial crisis, dealers said. The 30-share Sensex slid 606.14 points to 9,975.35, a lev
Published 18 Oct, 2008 12:00am
Chinese stocks make gains

Chinese stocks make gains

Chinese main stock index closed 1.08 percent higher on Friday, buoyed by strength in oil refiners after a fresh slide in global crude oil prices, while property shares were hit by profit-taking after gains earlier this week. The Shanghai Composite Index e
Published 18 Oct, 2008 12:00am
Jakarta shares 4.4 percent down

Jakarta shares 4.4 percent down

Indonesian shares ended 4.4 percent lower on Friday, weighed down by falls in other Asian markets amid fears about the credit crunch, dealers said. The Indonesia Stock Exchange's main index fell to 1,399.42 in thin volume, off an intraday low of 1,391.27.
Published 18 Oct, 2008 12:00am
Yuan eases, under pressure as economy slows

Yuan eases, under pressure as economy slows

The yuan closed slightly lower against the dollar on Friday, under pressure from signs that global financial turmoil is hitting China's economy, dealers said, although the Chinese central bank's mid-point limited its fall. "The troubles of exporters and s
Published 18 Oct, 2008 12:00am
Dollar sags versus euro

Dollar sags versus euro

The dollar sagged against the euro on Friday as safety buying of the currency eased with fears over the global financial sector slightly curbed. But the dollar held steady against the yen in choppy trade as some investors remained concerned about a global
Published 18 Oct, 2008 12:00am
Dollar gains versus yen

Dollar gains versus yen

The dollar had its best day against the yen in seven months in choppy trading on Thursday, boosted by sharp gains in US stocks as risk aversion waned amid a stream of measures to help ease a global credit crisis. Higher-yielding currencies such as the Aus
Published 18 Oct, 2008 12:00am
Australian dollar edges up

Australian dollar edges up

The Australian dollar extended gains into a second day on Friday, drawing support from a bounce in regional stock markets and commodity prices, although investors remained wary about a global recession. Bond futures fell as safe-haven inflows paused, but
Published 18 Oct, 2008 12:00am
Most Asian currencies firmer

Most Asian currencies firmer

Most Asian currencies rose on Friday, led by the South Korean won, as investors picked up battered regional stocks, but investors treaded cautiously amid worries about the global economy. The won rose as high as 1,305.9 per dollar, up 5 percent from Thurs
Published 18 Oct, 2008 12:00am
Swiss franc stabilises

Swiss franc stabilises

The Swiss franc was broadly unchanged against the euro after falling from last week's four-year highs during the week. The Swissie has lost some of its safe haven attraction after the world's central bankers took action at the weekend to support troubled
Published 18 Oct, 2008 12:00am
Pakistan team manager Ali resigns

Pakistan team manager Ali resigns

Pakistan team manager Talat Ali resigned on Friday along with fellow selection committee member Shafqat Rana. Talat said he had stood down because he wanted to make it easier for new Pakistan Cricket Board chairman Ejaz Butt to bring in his own management
Published 18 Oct, 2008 12:00am
Changes in Pakistan Cricket Board announced: PCB chairman resumes office

Changes in Pakistan Cricket Board announced: PCB chairman resumes office

Pakistan Cricket Board (PCB) on Friday formed a selection committee as an interim arrangement to select Pakistan cricket team for the Hong Kong Sixes and 3 ODI series against West Indies, both events scheduled in November this year. Saleem Jaffer will be
Published 18 Oct, 2008 12:00am
Test cricket's leading run scorers

Test cricket's leading run scorers

Test cricket's top batsmen after India's Sachin Tendulkar broke Brian Lara's record to become the leading run scorer on Friday.

Published 18 Oct, 2008 12:00am
Tendulkar creates history as India take control of second Test

Tendulkar creates history as India take control of second Test

Sachin Tendulkar created history as India thwarted a spirited fightback from Australia to reach 311-5 on the opening day of the second Test here on Friday. Tendulkar, 35, surpassed West Indian Brian Lara's tally of 11,953 runs to become the highest run-ge
Published 18 Oct, 2008 12:00am
Murray reaches Madrid semi-finals

Murray reaches Madrid semi-finals

Britain's Andy Murray outclassed Frenchman Gael Monfils 6-2 6-2 to reach the semi-finals of the Madrid Masters on Friday. The 21-year-old Scot, who next faces Roger Federer or Argentina's Juan Martin del Potro, was a bundle of energy and showed little sig
Published 18 Oct, 2008 12:00am
No cricket at 2016 Games, says IOC's Rogge

No cricket at 2016 Games, says IOC's Rogge

International Olympic Committee chief Jacques Rogge on Friday rejected growing demands from the cricket community to include the popular Twenty20 format at the 2016 Summer Games. "Twenty20 cricket will not feature in London 2012 or for that matter in 2016
Published 18 Oct, 2008 12:00am
Basile resigns as Argentina coach

Basile resigns as Argentina coach

Argentina coach Alfio Basile has stepped down from his job for "personal reasons", the country's football federation announced. Basile, 64, has been under fire since his team's lacklustre showing in the World Cup qualifier against Chile on Wednesday, a ga
Published 18 Oct, 2008 12:00am
Cambodian Prime Minister says Thai border clash won't get worse

Cambodian Prime Minister says Thai border clash won't get worse

Cambodian Prime Minister Hun Sen said on Friday this week's border clashes with Thailand around the 900-year-old Preah Vihear temple would not escalate into a wider and more serious conflict. "People should understand that there won't be any large-scale w
Published 18 Oct, 2008 12:00am
Indian bishops say at least 60 killed in anti-Christian violence

Indian bishops say at least 60 killed in anti-Christian violence

At least 60 Christians have been killed over the past two months in eastern India in a brutal backlash to the murder of a revered Hindu holy man, a national bishops' body said Friday. The figure is nearly double the official toll of 35 given by government
Published 18 Oct, 2008 12:00am
Germany threatens compensation claim over A400M delays

Germany threatens compensation claim over A400M delays

European aerospace group EADS must pay compensation for any delays in the delivery of the A400M military airlifter, Germany's Defence Minister said, adding EU partners were discussing the problem together. The comments by Franz Josef Jung in an interview
Published 18 Oct, 2008 12:00am
Sri Lanka seeks to avoid spat with India over military drive

Sri Lanka seeks to avoid spat with India over military drive

Sri Lanka said Friday it will send a delegation to India to defuse mounting tensions over the escalating conflict with Tamil Tiger rebels. Sri Lanka's minority Tamils share close cultural and religious links with the 55 million Tamils in the nearby south
Published 18 Oct, 2008 12:00am
Berlusconi shrugs off first big strike

Berlusconi shrugs off first big strike

Italy's Silvio Berlusconi shrugged off his first big strike since coming to power five months ago despite teachers, transport workers and other public-sector employees protesting on Friday over plans to cut pay and jobs. Welfare Minister Maurizio Sacconi
Published 18 Oct, 2008 12:00am
Britain jailed for racist murder of Bangladeshi

Britain jailed for racist murder of Bangladeshi

A British soldier was jailed for life Friday for the racist murder of a Bangladeshi waiter in Scotland, in a case which triggered high emotions and which has dragged on for 14 years. Michael Ross, who went on to serve in Iraq with the elite Scottish Black
Published 18 Oct, 2008 12:00am
Eiffel Tower cuts twinkling time to save energy

Eiffel Tower cuts twinkling time to save energy

The Eiffel Tower is cutting down on its display of sparkling lights to set an example of energy saving, its management said on Friday. The Eiffel Tower has twinkled for 10 minutes every hour on the hour during the evening since January 2000. Now, to reinf
Published 18 Oct, 2008 12:00am
Women need empowerment in fight against AIDS: UN

Women need empowerment in fight against AIDS: UN

Women must be more involved in the fight against HIV/AIDS, a disease increasingly being spread through sex, and men must also be encouraged to respect women more, a senior UN official said on Friday. Nafis Sadik, UN special envoy for HIV/AIDS in the Asia-
Published 18 Oct, 2008 12:00am
35 PKK rebels believed killed: Turkish military

35 PKK rebels believed killed: Turkish military

Turkey's military said on Friday some 35 Kurdish separatist rebels were believed to have been killed amid a recent upsurge in clashes in the country's south-east, but it had yet to confirm this information. The military told reporters they had picked up c
Published 18 Oct, 2008 12:00am
Russia's Chechnya inaugurates vast new mosque

Russia's Chechnya inaugurates vast new mosque

Chechen leader Ramzan Kadyrov opened one of Europe's biggest mosques in the rebuilt capital of the southern Russian region on Friday, saying it was proof Russian rule and Islam can go together. The mosque, named "The Heart of Chechnya" and constructed by
Published 18 Oct, 2008 12:00am
Iraqis still by far world's top asylum seekers

Iraqis still by far world's top asylum seekers

Some 19,500 Iraqis applied for asylum in wealthy nations during the first half of 2008, still by far the top nationality seeking refuge abroad, the United Nations refugee agency said on Friday. But the overall number of Iraqis filing asylum applications c
Published 18 Oct, 2008 12:00am
UK opposition renews attack amid financial crisis

UK opposition renews attack amid financial crisis

British opposition leader David Cameron returned to the attack on Friday after holding fire as the government battled the financial crisis, saying it proved Prime Minister Gordon Brown's economic record was a failure. Brown, although still behind in opini
Published 18 Oct, 2008 12:00am
Former Nato chief in Afghanistan to lead UK army

Former Nato chief in Afghanistan to lead UK army

A general who is said to favour sending many more troops to fight the Taliban in Afghanistan was named as the new head of the British Army on Friday. The appointment of General David Richards, a former commander of the Nato force in Afghanistan, is part o
Published 18 Oct, 2008 12:00am
Washington Post endorses Obama for president

Washington Post endorses Obama for president

The Washington Post Friday backed Democrat Barack Obama to become the next US president in a gushing editorial, saying he had the potential to be a "great" leader despite his relative inexperience. The influential newspaper said its thumbs up was "
Published 18 Oct, 2008 12:00am
17 civilians killed in Afghanistan

17 civilians killed in Afghanistan

Women and children were among 17 civilians killed in southern Afghanistan, an official said on Friday, but it was not clear if they were victims of a foreign air strike or Taliban rockets. The issue of civilian casualties is an emotive one in Afghanistan
Published 18 Oct, 2008 12:00am
US Army cancels $9.2 billion helicopter contract

US Army cancels $9.2 billion helicopter contract

The US Army cancelled a 9.2-billion-dollar contract with Bell Helicopter to build hundreds of armed reconnaissance helicopters because of ballooning cost overruns and delivery delays, officials said Friday. The decision leaves the army with a gap in its a
Published 18 Oct, 2008 12:00am
Three killed in Baghdad mosque bombing

Three killed in Baghdad mosque bombing

At least three Iraqi Shiite worshippers were killed in a bomb attack on Friday as they were leaving a Baghdad mosque after weekly prayers, a security official told AFP. "At around 1:30 (1030 GMT), as worshippers were leaving the Saeed Haydar mosque in the
Published 18 Oct, 2008 12:00am
Gates backs pact for troops in Iraq

Gates backs pact for troops in Iraq

US Defence Secretary Robert Gates supports a draft deal with Iraq that would provide a new legal basis to keep American forces there after a UN mandate expires on December 31, the Pentagon said on Thursday. "He is comfortable with the document," said Pent
Published 18 Oct, 2008 12:00am
World record sandwich? Iranians eat evidence

World record sandwich? Iranians eat evidence

Iran failed on Friday to register what it said would be the world's largest sandwich in the Guinness book of World Records after people rushed forward and began eating it - before it was measured. Event organisers had planned to stuff the 1,500-metre-long
Published 18 Oct, 2008 12:00am
North Korea revives its nuclear disablement: US

North Korea revives its nuclear disablement: US

North Korea has removed more fuel rods from its nuclear reactor, put all seals back on equipment at the complex and restored the monitoring system, the US State Department said Friday. "All the seals are back on, the surveillance equipment is back, reinst
Published 18 Oct, 2008 12:00am
Buckingham Palace 'secret' gardens to be opened to visitors

Buckingham Palace 'secret' gardens to be opened to visitors

The lavish gardens of Buckingham Palace, accessible only to those invited by Queen Elizabeth II, will be open to the public for the first time in their 200-year-history next year, it was announced Friday. At 16 hectares, the space is the biggest private g
Published 18 Oct, 2008 12:00am
Bush says seven nations to join US visa waiver plan

Bush says seven nations to join US visa waiver plan

US President George W. Bush on Friday announced that seven more countries will be added to the list of those whose citizens can travel to the United States without needing to obtain a visa. Later this year citizens from the Czech Republic, Estonia, Hungar
Published 18 Oct, 2008 12:00am
Sterling dips

Sterling dips

Sterling dipped against the low-yielding yen and the dollar on Friday, as investors pondered the prospect of a prolonged economic downturn after recent financial market turmoil, prompting them to shun riskier assets. Trade lacked direction as investors st
Published 18 Oct, 2008 12:00am
Yen gains broadly in London

Yen gains broadly in London

The yen rose on Friday as stocks gave up much of their early gains, highlighting an ongoing slump in risk demand due to fears of a global recession, which is seen as inevitable as nations try to salvage their banking systems.
Published 18 Oct, 2008 12:00am
Indian rupee at lowest close in over six years

Indian rupee at lowest close in over six years

The Indian rupee fell to its lowest close in more than six years on Friday, after the main stock index tumbled below 10,000 points intensifying worries of capital outflows. The partially convertible rupee dropped to 48.88/89 per dollar, its lowest close s
Published 18 Oct, 2008 12:00am
GDF Suez reopens primary, Crossover hits record wide

GDF Suez reopens primary, Crossover hits record wide

The European corporate primary market saw its first bond deal for five weeks on Friday, with a 1.9 billion euro ($2.6 billion) two-part issue from GDF Suez even as speculative-grade spreads hit record wides. By 1132 GMT the Markit iTraxx Crossover index,
Published 18 Oct, 2008 12:00am
GDF Suez reopens primary, Crossover hits record wide

GDF Suez reopens primary, Crossover hits record wide

The European corporate primary market saw its first bond deal for five weeks on Friday, with a 1.9 billion euro ($2.6 billion) two-part issue from GDF Suez even as speculative-grade spreads hit record wides. By 1132 GMT the Markit iTraxx Crossover index,
Published 18 Oct, 2008 12:00am
South Korean spreads widen

South Korean spreads widen

The cost of insuring Korean debt jumped on Friday over growing concerns the government will need to take measures to support its banking system. The broad market was steady to marginally higher but concerns remained the global economy is hurtling towards
Published 18 Oct, 2008 12:00am
Friday's early afternoon trade: market climbs in choppy trade

Friday's early afternoon trade: market climbs in choppy trade

US stocks rose in choppy trade on Friday after tech bellwether Google Inc posted reassuring results and energy stocks tracked the price of oil higher. Wall Street was on track to snap its bruising three-week run with its best week in 5 years.
Published 18 Oct, 2008 12:00am
Russia to buy shares from next week

Russia to buy shares from next week

Russia will start spending 175 billion roubles ($6.64 billion) of its wealth fund on buying top quality shares and bonds from next week, while the central bank pledged to keep supporting the rouble. "Today foreign investors are selling our shares. Russian
Published 18 Oct, 2008 12:00am
Russia to buy shares from next week

Russia to buy shares from next week

Russia will start spending 175 billion roubles ($6.64 billion) of its wealth fund on buying top quality shares and bonds from next week, while the central bank pledged to keep supporting the rouble. "Today foreign investors are selling our shares. Russian
Published 18 Oct, 2008 12:00am
Malaysian stocks fall

Malaysian stocks fall

Malaysian stocks fell 1.6 percent on Friday, as investors withdrew from the beleaguered market ahead of the weekend, brokers said. The Kuala Lumpur Composite Index closed 14.79 points down at 905.23. Declining stocks outnumbered advancers 461 to 204.
Published 18 Oct, 2008 12:00am
UK's top share index up 5.2 percent

UK's top share index up 5.2 percent

British blue chip stocks gained 5.2 percent on Friday as oil shares bounced on recovering crude prices, while UK pharmaceuticals forged higher as investors bet on upbeat earnings from their Swiss peers next week. The FTSE 100 closed up 201.6 points at 4,0
Published 18 Oct, 2008 12:00am
New York cotton futures jump

New York cotton futures jump

Cotton futures closed sharply higher for the second session running on Friday on investor and merchant buying, with brokers saying the surge should easily spill over into next week. The benchmark December cotton contract firmed the 3.00-cent limit to fini
Published 18 Oct, 2008 12:00am
Copper climbs

Copper climbs

Copper jumped more than 3 percent on Friday as rising equity markets briefly boosted sentiment in metals, but analysts remained cautious as demand worries persisted. Lead prices rallied more than 7 percent after a sharp fall in inventories, while nickel t
Published 18 Oct, 2008 12:00am
Oil rises $2 on stock markets rise, Opec

Oil rises $2 on stock markets rise, Opec

Oil jumped $2 to near $72 a barrel on Friday, spurred by a broader rise across financial markets and expectations Opec could cut output at an emergency meeting next week. US stocks rose as investors hunted for beaten-down shares, offsetting mounting conce
Published 18 Oct, 2008 12:00am
US gold ends above $800

US gold ends above $800

US gold futures dropped below $800 an ounce and other precious metals plunged in volatile trade on Thursday as commodity funds and investors dumped liquid assets and opted for cash amid heightened uncertainty in global markets. December gold settled down
Published 18 Oct, 2008 12:00am
London sugar, coffee rise

London sugar, coffee rise

Sugar and coffee futures rose on Friday as the markets slowly began to rebuild after the steep losses of the last few weeks, dealers said. "I think most of these markets are now building a base. I don't think you are going to see any more spectacular coll
Published 18 Oct, 2008 12:00am
Gold falls in London

Gold falls in London

Gold fell 3 percent on Friday, extending the previous session's losses, as the dollar firmed against the euro, and investors sold bullion to cover losses on other markets. Spot gold was quoted at $786.15/788.65 an ounce at 1304 GMT, down from $804.50 late
Published 18 Oct, 2008 12:00am
US MIDDAY: cocoa, coffee rise

US MIDDAY: cocoa, coffee rise

US cocoa and arabica coffee bounced in early trade Friday, retracing after settling at multi-month lows Thursday and with a short-covering boost, although volume was thin, traders said. Arabica coffee for December delivery up 1.15 cents at $1.14 per lb, b
Published 18 Oct, 2008 12:00am
US MIDDAY: sugar jumps

US MIDDAY: sugar jumps

Raw sugar futures on ICE Futures US at 1242 GMT. March raw sugar contract up 0.16 cent at 11.32 cents per lb. Trading range 11.18 to 11.60 cents. Volume at 12,076 lots. Sugar surges on investor buying, but momentum faded as market remained jittery about w
Published 18 Oct, 2008 12:00am
US MIDDAY: soya, corn, wheat up

US MIDDAY: soya, corn, wheat up

Soyabean, corn and wheat futures on the Chicago Board of Trade were higher early on Friday in a recovery bounce after steep declines this week, with strength in crude oil lending support, traders said. As of 9:36 am CDT (1436 GMT), November soyabeans were
Published 18 Oct, 2008 12:00am
US MIDDAY: copper bounces

US MIDDAY: copper bounces

US copper futures bounced early Friday, as traders booked profits from a most recent sell-off, but the rebound looked fragile and expectations were for prices to break below $2.00 a lb sooner rather than later, traders said.
Published 18 Oct, 2008 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

US gold futures dropped 3 percent on Friday, extending the previous session's decline as deflation fears triggered widespread liquidation by commodity funds, dealers said. December gold down $21.10, or 2.6 percent, at $783.40 an ounce on the COMEX divisio
Published 18 Oct, 2008 12:00am
Need for balanced usage of fertilisers stressed

Need for balanced usage of fertilisers stressed

Pakistan Agriculture Research Council (Parc) Chairman Dr Zafar Altaf stressed the need for practising science-based agriculture and balanced use of fertiliser for crops to enhance productivity and increase farm income. While talking to PTV, Dr Altaf said
Published 18 Oct, 2008 12:00am
Complaint against non-receipt of development funds

Complaint against non-receipt of development funds

Union Council 37 of Muzaffargarh City on Friday complained of non-receipt of development funds amounting to five million rupees. UC Nazim Malik Muhammad Iqbal, talking to newsmen said that development funds to the tune of five million rupees had been allo
Published 18 Oct, 2008 12:00am
22 Wapda employees served dismissal notices

22 Wapda employees served dismissal notices

As many as 22 Wapda (Water and Power Development Authority) employees including four SDOs, a Budget and Accounts officer serving in various wings have been served final show cause notices for dismissal from service, on charges of misconduct and wilful abs
Published 18 Oct, 2008 12:00am
Jamaat-e-Islami Khushab ready for Lahore Ijtema

Jamaat-e-Islami Khushab ready for Lahore Ijtema

Arrangements have been finalised for the Jamaat-e-Islami contingent from district Khushab to attend the huge JI three-day 'Ijtema' to be held at the Minar-e-Pakistan site in Lahore on October 24. JI District Ameer Muhammad Waris in a statement issued here
Published 18 Oct, 2008 12:00am
Flour prices stabilising in NWFP

Flour prices stabilising in NWFP

Flour dealer has informed that the flour prices have started to stabilise in NWFP after Punjab resumed flour supply to the province last week. Talking to a private television channel, dealer said about 83 dealers had been issued permits for the import of
Published 18 Oct, 2008 12:00am
Innovation journalism important tool for economic uplift

Innovation journalism important tool for economic uplift

Media experts at a one-day workshop here on Friday described the innovation journalism as an important instrument for the sustainable economic development as well as progress and prosperity. The one-day workshop on "Innovation Journalism," was organised b
Published 18 Oct, 2008 12:00am
Winter break for Afghan voluntary repatriation

Winter break for Afghan voluntary repatriation

Afghans returning home from Pakistan under the UN refugee agency's voluntary repatriation programme are informed that the facilitated return process will be suspended at the end of October for the usual winter break this year. It will resume in next year
Published 18 Oct, 2008 12:00am
Faisalabad Serena Hotel appoints new general manager

Faisalabad Serena Hotel appoints new general manager

Abdul Azeem Qureshi has recently joined Faisalabad Serena Hotel as General Manager. Bringing with him the varied professional experience of working for different hotels throughout Pakistan, he has come to Faisalabad with a vision to further contribute tow
Published 18 Oct, 2008 12:00am
'Pakistan blessed with rich natural resources, favourable climate'

'Pakistan blessed with rich natural resources, favourable climate'

Renowned Australian scientist Neil Forrester has said that Pakistan has been blessed with rich natural resources and favourable climate to achieve maximum yield potential of cotton crop but unfortunately this dream has not yet been fulfilled.
Published 18 Oct, 2008 12:00am
Global call to act against poverty

Global call to act against poverty

Local NGOs, Trade Unions and political parties on Friday observed the Global call to action against poverty. Three demonstrations were held in the city. While women staged a demonstration in front of Multan Press Club led by Halima Saadia, M .Jamil Shehza
Published 18 Oct, 2008 12:00am
Shaukat Tarin's appointment

Shaukat Tarin's appointment

Mr Shaukat Tarin has taken over as Advisor to PM on Finance at a time when the world is in the midst of a serious economic crisis and Pakistan's economy is in ruins. Years of poor governance, no accountability for loan defaults by design and rampant corru
Published 18 Oct, 2008 12:00am
Pakistan's economic quagmire

Pakistan's economic quagmire

I have heard many responsible men stated that Mr Asif Zardari has changed for the better and has matured in dealing with political issues. This information is heartening to note, since he has assumed the role of a powerful President, who has the backing o
Published 18 Oct, 2008 12:00am
Gulf Islamic banks eye slowing real estate

Gulf Islamic banks eye slowing real estate

With their ban on interest, the Gulf Islamic banks that managed to avoid the types of debt which proved toxic for their conventional counterparts are now praying the global crisis will bypass their property holdings. Islamic banks, which manage an estimat
Published 18 Oct, 2008 12:00am
Bill passed by Senate: Comments on Industrial Relations Act 2008 - I

Bill passed by Senate: Comments on Industrial Relations Act 2008 - I

The Industrial Relations Act-2008 has been passed by the Senate without much comment. So far it has not been presented in the National Assembly. This is a detailed commentary on the Act, from the point of view of the employers before it is moved in the Na
Published 18 Oct, 2008 12:00am
The cost of poor sanitation and hygiene

The cost of poor sanitation and hygiene

The UN General Assembly having declared 2008 as the International Year of Sanitation to promote better hygienic practices, the first Global Hand Washing Day was observed enthusiastically in Pakistan on October 15 with a special focus on school children.
Published 18 Oct, 2008 12:00am
No amnesty after detection of evasion

No amnesty after detection of evasion

Quoting informed sources, a Recorder Report appearing on Tuesday revealed that the national tax conference at the Federal Board of Revenue (FBR) on Monday remained engaged in discussions on whether or not to legalise the concealed assets of a Lahor
Published 18 Oct, 2008 12:00am
Sino-Pak relations: more than meets the eye

Sino-Pak relations: more than meets the eye

During the ongoing visit of President Zardari to China, twelve agreements, Memoranda of Understanding and protocols have been signed. These include an agreement on technical and economic co-operation, amendments in the Free Trade Agreement, establishing a
Published 18 Oct, 2008 12:00am
Punjab chief minister condoles

Punjab chief minister condoles

Punjab Chief Minister, Mian Muhammad Shahbaz Sharif has expressed deep sense of grief and sorrow over the sudden death of Syed Arshad Bokhari, nephew of prominent columnist and Chairman Lahore Arts Council, Ata ul Haq Qasmi.
Published 18 Oct, 2008 12:00am
PPP meeting today in Lahore

PPP meeting today in Lahore

A meeting of the executive body of Pakistan Peoples Party (PPP) Punjab will be held on Saturday, October 18 at Lahore, said the party's district secretary information. Mazhar Hussain Pahore on Friday told newsmen that the party meeting would be held at th
Published 18 Oct, 2008 12:00am
Punjab takes measures to alleviate poverty: chief minister

Punjab takes measures to alleviate poverty: chief minister

Punjab Chief Minister, Mian Muhammad Shahbaz Sharif has said that government is taking measures on war footing to cope with the situation arising out of international economic and food crises. He was talking to a delegation of economists on International
Published 18 Oct, 2008 12:00am
APAT decides to participate in LCCI elections

APAT decides to participate in LCCI elections

Azad Group and All Pakistan Anjuman-e-Tajraan (APAT) have decided to participate in the elections of the Lahore Chamber of Commerce and Industry (LCCI) to be held on November 18-19.
Published 18 Oct, 2008 12:00am
PMIU, Unicef, PRSP sign MoU

PMIU, Unicef, PRSP sign MoU

A memorandum of understanding between Programme Monitoring and Implement Unit (PMIU), School Education Department, United Nations Children's Funds (Unicef) and Punjab Rural Support Programme (PRSP) was signed in a special ceremony, here on Friday. Under M
Published 18 Oct, 2008 12:00am
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