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Print - 2008-10-24
South Africa central bank-financial system will weather storm

South Africa central bank-financial system will weather storm

South Africa's financial system has been largely protected against global market turmoil and will weather the storm, although threats remain from reduced flows to emerging markets, the central bank said on Thursday.
Published 24 Oct, 2008 12:00am
Xerox profit misses estimates, sets job cuts

Xerox profit misses estimates, sets job cuts

Xerox Corp posted disappointing quarterly results as demand for its more expensive office printing equipment systems slowed and it said it would cut some 5 percent of its workforce to trim costs. The world's top supplier of digital printer and document ma
Published 24 Oct, 2008 12:00am
Xerox profit misses estimates, sets job cuts

Xerox profit misses estimates, sets job cuts

Xerox Corp posted disappointing quarterly results as demand for its more expensive office printing equipment systems slowed and it said it would cut some 5 percent of its workforce to trim costs. The world's top supplier of digital printer and document ma
Published 24 Oct, 2008 12:00am
GE Capital raises credit line to Hyundai unit

GE Capital raises credit line to Hyundai unit

GE Capital, the finance arm of General Electric Co, agreed on Thursday to increase a credit line to a unit of South Korea's Hyundai Motor to $1 billion when a previous arrangement expires in January. The deal comes as financial firms world-wide suffer a c
Published 24 Oct, 2008 12:00am
Argentina to seize pension funds, markets tank

Argentina to seize pension funds, markets tank

Argentina's centre-left President Cristina Fernandez on Tuesday signed a bill for a government take-over of the $30 billion private pension system in a daring and unexpected move that rocked domestic markets. Labour leaders and lawmakers from the ruling P
Published 24 Oct, 2008 12:00am
Argentina to seize pension funds, markets tank

Argentina to seize pension funds, markets tank

Argentina's centre-left President Cristina Fernandez on Tuesday signed a bill for a government take-over of the $30 billion private pension system in a daring and unexpected move that rocked domestic markets. Labour leaders and lawmakers from the ruling P
Published 24 Oct, 2008 12:00am
Treasury sees US economic recovery in late 2009

Treasury sees US economic recovery in late 2009

US Treasury Under-secretary David McCormick said on Wednesday the US economy is in for a challenging few quarters but could start to recover late next year. "The coming quarters will be very challenging," McCormick told a lunch in Hong Kong. He said, howe
Published 24 Oct, 2008 12:00am
India may cut fuel prices; waiting for Opec

India may cut fuel prices; waiting for Opec

India may cut retail fuel prices for the first time in 20 months next week following a sharp plunge in crude oil prices, but a final decision will depend on whether Opec decides to reduce output. Although state refiners are resisting a cut, Oil Minister M
Published 24 Oct, 2008 12:00am
Germany's foreign minister rejects tax cuts

Germany's foreign minister rejects tax cuts

Leading German Social Democrat (SPD) and foreign minister Frank-Walter Steinmeier said in a magazine interview he opposed income tax cuts to stimulate the economy in response to the global financial crisis. Germany's ruling "grand coalition" of conservati
Published 24 Oct, 2008 12:00am
Gazprom first quarter results strong

Gazprom first quarter results strong

Russian gas export monopoly Gazprom reported better-than-expected first-quarter results on Wednesday but said the global credit crunch could have an impact on its cashflow forecasts. Gazprom, the world's largest gas producer, said its profit rose 32 perce
Published 24 Oct, 2008 12:00am
Gazprom first quarter results strong

Gazprom first quarter results strong

Russian gas export monopoly Gazprom reported better-than-expected first-quarter results on Wednesday but said the global credit crunch could have an impact on its cashflow forecasts. Gazprom, the world's largest gas producer, said its profit rose 32 perce
Published 24 Oct, 2008 12:00am
Malaysian banks healthy despite global crisis

Malaysian banks healthy despite global crisis

Malaysian banks are well-capitalised and their lending activities have not been affected by the global financial crisis, an industry body said on Thursday. "Malaysia has been relatively unaffected. Liquidity level in the banking system is healthy," Abdul
Published 24 Oct, 2008 12:00am
Taiwan stocks hit five-year low

Taiwan stocks hit five-year low

Taiwan stocks closed down 2.72 percent on Thursday at a fresh five-year closing low, with investors offloading shares across the board a day after the government said it would lower the 2009 economic growth forecast. The main TAIEX share index closed 132.
Published 24 Oct, 2008 12:00am
Kuwait traders walk out as Gulf stocks dip

Kuwait traders walk out as Gulf stocks dip

Dozens of traders walked off the trading floor at the Kuwait Stock Exchange on Thursday and staged a demonstration to urge more government support for the financial sector amid fears of global recession. The protest, the first of its kind since 2006, came
Published 24 Oct, 2008 12:00am
Hong Kong shares down 3.6 percent

Hong Kong shares down 3.6 percent

Hong Kong shares trimmed losses to 3.6 percent on Thursday on hopes of further succour for the markets from the US government, but the main index closed below 14,000 points to take losses this year to more than 50 percent. Energy stocks such as PetroChina
Published 24 Oct, 2008 12:00am
US stocks tumble to five-year lows

US stocks tumble to five-year lows

US stocks tumbled to 5- year lows on Wednesday as investors grappled with an increasingly dire outlook for the global economy following a raft of disappointing profits and outlooks from major US companies. Plummeting commodity prices sent energy and mater
Published 24 Oct, 2008 12:00am
Seoul shares plunge 7.5 percent

Seoul shares plunge 7.5 percent

Seoul shares posted their lowest close in 40 months on Thursday, led by exporters as fears of a world-wide recession deepened, but Hyundai Motor bucked the trend after reporting better-than-expected quarterly earnings. The Korea Composite Stock Price Inde
Published 24 Oct, 2008 12:00am
Indian shares slide 3.92 percent

Indian shares slide 3.92 percent

Indian shares fell 3.92 percent on Thursday on growing global recession fears and a weak earnings outlook, dealers said. The 30-share Sensex fell 398.2 points to 9,771.7, its lowest level since June 2006. The markets will now focus on the central bank rev
Published 24 Oct, 2008 12:00am
US bonds rally on economic gloom

US bonds rally on economic gloom

US government debt prices gained for a second day on Wednesday, as recession fears and disappointing corporate earnings hurt stock markets world-wide and accelerated safety bids for bonds. The grim economic outlook overshadowed further signs of tentative
Published 24 Oct, 2008 12:00am
US bonds rally on economic gloom

US bonds rally on economic gloom

US government debt prices gained for a second day on Wednesday, as recession fears and disappointing corporate earnings hurt stock markets world-wide and accelerated safety bids for bonds. The grim economic outlook overshadowed further signs of tentative
Published 24 Oct, 2008 12:00am
Singapore shares fall 4.14 percent

Singapore shares fall 4.14 percent

Singapore shares closed 4.14 percent lower on Thursday as investor confidence plunged over fears of a global recession, dealers said. The main Straits Times Index tumbled 75.46 points to 1,745.67. Volume totalled 1.17 billion shares worth 1.22 billion Sin
Published 24 Oct, 2008 12:00am
Tokyo stocks decline

Tokyo stocks decline

Japan's Nikkei average hit its lowest point since May 2003 on Thursday then pared its losses to end down 2.5 percent on a report that the US administration may consider a $40 billion plan to help stop housing foreclosures. Honda Motor Corp and other expor
Published 24 Oct, 2008 12:00am
Jakarta shares sag

Jakarta shares sag

Indonesian shares tumbled 3.1 percent on Thursday, hurt by the weakness of the rupiah and falls across Asian markets, dealers said. The Jakarta Composite Index fell 42.54 points to a two-year low of 1,337.20 in thin trade, off an intraday low of 1,313.270
Published 24 Oct, 2008 12:00am
Taiwan dollar posts biggest fall this year

Taiwan dollar posts biggest fall this year

The Taiwan dollar posted its biggest fall this year to hit a 17-month intraday low on Thursday, due to local stock losses, foreign fund outflows, and a globally stronger US dollar.The Taiwan dollar weakened by T$0.406, or 1.2 percent, to T$33.396 to the U
Published 24 Oct, 2008 12:00am
Yuan edges lower

Yuan edges lower

The yuan edged lower against the dollar on Thursday as the US currency extended its recent gains on global markets, fuelled by worries about a worsening economy that spurred investors to liquidate risky assets. The Chinese central bank set the yuan's dail
Published 24 Oct, 2008 12:00am
Chilean peso falls

Chilean peso falls

Chile's peso hit a five-year low and stocks traded sharply lower in early afternoon trade on Wednesday, as growing recession fears battered global markets and boosted the dollar. After sliding more than 4 percent to a five-year intra-day low in morning tr
Published 24 Oct, 2008 12:00am
Canadian dollar tumbles

Canadian dollar tumbles

The Canadian dollar was whacked to its lowest level versus the US dollar in more than three years on Wednesday as softer oil prices and a surge in the greenback combined to knock the currency below 80 US cents. Bond prices closed higher across the curve a
Published 24 Oct, 2008 12:00am
Dollar hits two-year high

Dollar hits two-year high

The dollar hit a two-year high against a basket of currencies on Thursday as concerns about a worsening global economy prompted investors to cut risky assets. The yen hit a six-year peak against the euro and a seven-month high versus the dollar as Japanes
Published 24 Oct, 2008 12:00am
Dollar jumps to two-year peak

Dollar jumps to two-year peak

The US dollar jumped to a two-year high on Wednesday as a deteriorating global economy and concern that financial market stability is still too far away spurred investors to liquidate risky assets. The dollar climbed to a two-year high against the euro an
Published 24 Oct, 2008 12:00am
Swiss franc hits new 5-1/2-year high

Swiss franc hits new 5-1/2-year high

The Swiss franc hit a fresh 5-1/2 year high against the euro on Thursday as investors sold riskier assets like stocks on increasing recession fears and looked for safer investments. "The latest data from Asia have increased concerns about a recession and
Published 24 Oct, 2008 12:00am
Australian dollar on defensive

Australian dollar on defensive

The Australian dollar came under renewed pressure on Thursday as risk-shy investors and hedge funds bailed out of leveraged trades in everything from equities to commodities and emerging markets. The Aussie dollar eased to $0.6643, from $0.6675 late in Ne
Published 24 Oct, 2008 12:00am
Asian currencies fall multi-year lows

Asian currencies fall multi-year lows

The Indonesian rupiah hit its lowest level in nearly three years as Asian currencies fell to new multi-year lows on Thursday, hit by investor fears over global growth and persistent selling of risky assets. A day after Hungary raised rates by a hefty 3 pe
Published 24 Oct, 2008 12:00am
Bangladesh captain under pressure in second test

Bangladesh captain under pressure in second test

Bangladesh are hoping captain Mohammad Ashraful will rediscover his batting touch as they resume their quest for a first major win in the second Test against New Zealand here on Saturday. Ashraful, 24, admitted he had angered fans with his two and nought
Published 24 Oct, 2008 12:00am
Mushtaq given England coaching role

Mushtaq given England coaching role

Mushtaq Ahmed was named as the new England spin bowling coach by the England and Wales Cricket Board (ECB) here on Thursday. The 38-year-old former Pakistan leg-spinner, a key figure in Sussex's three County Championship winning teams, will work on a cons
Published 24 Oct, 2008 12:00am
Three more matches decided in Football League

Three more matches decided in Football League

Chitral-born Muhammad Rasool became joint leading scorer while the number of goal-getters in Pakistan Premier Football League (PPFL) became 106, when Farhan Qadir, Muhammad Khabab, Muhammad Ahmed and Amin Ullah entered the record book with their first goa
Published 24 Oct, 2008 12:00am
Life ban on Salim Malik lifted

Life ban on Salim Malik lifted

A court has lifted the life ban imposed on former Pakistan captain Salim Malik for alleged involvement in match fixing, his lawyer said on Thursday. Shahid Karim said a civil court judge had removed the ban and fine, which were imposed following a probe i
Published 24 Oct, 2008 12:00am
24 teams to compete in ITC Tournament

24 teams to compete in ITC Tournament

As many as 24 teams have confirmed their participation in the Intermediate Tapeball Cricket (ITC) Tournament being organised by Karachi Union of Journalist (Dastoor) from November 1. The participating teams have submitted their entry forms, which are of p
Published 24 Oct, 2008 12:00am
Dubai firm calls off Charlton take-over

Dubai firm calls off Charlton take-over

English second division (Championship) club Charlton Athletic said on Thursday that a proposed take-over by Dubai's Zabeel Investments was off. "The board of Charlton Athletic was informed by Zabeel Investments on Thursday that it will not be proceeding w
Published 24 Oct, 2008 12:00am
West Indies offer Pakistan two tests in Abu Dhabi

West Indies offer Pakistan two tests in Abu Dhabi

The West Indies have offered to play two Tests against Pakistan in Abu Dhabi in November, the Pakistan Cricket Board (PCB) said on Thursday. Pakistan are due to play three one-day internationals against West Indies November 12-16 and PCB Chairman Ejaz But
Published 24 Oct, 2008 12:00am
North Korea says reports on Kim's health are false

North Korea says reports on Kim's health are false

North Korea's state media said on Thursday that recent news reports about its leader Kim Jong-il's health were false, in their first direct comment on the reclusive ruler's suspected illness. US and South Korean officials said last month Kim may have suff
Published 24 Oct, 2008 12:00am
Seven killed in Italian helicopter crash in France

Seven killed in Italian helicopter crash in France

An Italian army helicopter crashed in a field in eastern France on Thursday, killing seven people on board, the local fire brigade said. "We have seven people reported dead and we are continuing to search because we have contradictory information on the p
Published 24 Oct, 2008 12:00am
Two jailed for Ivorian toxic dumping

Two jailed for Ivorian toxic dumping

A court in Ivory Coast jailed two people over the deadly 2006 dumping of toxic waste from a ship chartered by an international oil trader, but victims complained that not all of those responsible were punished. At least 17 people were killed and thousands
Published 24 Oct, 2008 12:00am
Court hands setback to EU ban of Iranian group

Court hands setback to EU ban of Iranian group

A European Union court on Thursday annulled a 2007 move to freeze the assets of an exiled Iranian opposition group in the latest legal setback for an EU blacklist of suspected terrorist groups. But the People's Mujahideen Organisation of Iran (PMOI) - whi
Published 24 Oct, 2008 12:00am
Rice brands Palin 'fantastic,' but avoids full endorsement

Rice brands Palin 'fantastic,' but avoids full endorsement

US Secretary of State Condoleezza Rice on Wednesday appeared guarded and avoided giving a full endorsement when asked to comment on Republican vice presidential candidate Sarah Palin. Appearing alongside PepsiCo chief executive Indra Nooyi at the 2008 Wom
Published 24 Oct, 2008 12:00am
China bridles as dissident wins top EU rights prize

China bridles as dissident wins top EU rights prize

The European Parliament, in a move that immediately drew a tart rebuke from Beijing, awarded its top human rights prize on Thursday to a Chinese dissident who was jailed for subversion after testifying to the assembly last year.
Published 24 Oct, 2008 12:00am
US-Iraq pact seeks to enable 'pillage': Ahmadinejad

US-Iraq pact seeks to enable 'pillage': Ahmadinejad

The draft US-Iraq security accord is aimed at keeping Iraq weak to help America "pillage" the country, Iranian President Mahmoud Ahmadinejad said on Thursday. "The Americans have shown that they do not respect any agreement and, if their interests require
Published 24 Oct, 2008 12:00am
'Russia deploying troops in South Ossetia'

'Russia deploying troops in South Ossetia'

Georgia said on Thursday that Russia had deployed 2,000 extra troops in South Ossetia in the past week and was preparing to stir up more trouble in the breakaway territory. Moscow dismissed the charges. "In the past week, Russia increased the number of tr
Published 24 Oct, 2008 12:00am
Indian troops drinking military into the red

Indian troops drinking military into the red

India's million-plus army is consuming much more alcohol than permitted, causing huge financial losses to the state and raising suspicions of widespread black marketeering, a report said Thursday. Among the biggest culprits is the Indian army's most prest
Published 24 Oct, 2008 12:00am
McCain hammers Obama on Florida bus tour

McCain hammers Obama on Florida bus tour

Republican presidential nominee John McCain hammered Democrat Barack Obama on taxes and national security on Thursday on a bus tour across parts of Florida crucial to his hopes of winning on November 4. Trailing in opinion polls both nationally and in man
Published 24 Oct, 2008 12:00am
Egypt to rekindle Hamas talks on captured Israeli soldier

Egypt to rekindle Hamas talks on captured Israeli soldier

Egyptian President Hosni Mubarak vowed on Thursday to rekindle Cairo's stalled efforts to broker a prisoner swap with Hamas, after talks with Israeli President Shimon Peres. Peres, welcomed with pomp and ceremony in the Red Sea resort of Sharm el-Sheikh,
Published 24 Oct, 2008 12:00am
Philippine army says open for truce with rebels

Philippine army says open for truce with rebels

The Philippines is open to calls to halt an army offensive against rogue Muslim rebels, the most senior military commander in the south said on Thursday, adding that the conflict was taking a large toll in lives and money.
Published 24 Oct, 2008 12:00am
Suicide strike on Iraq minister's convoy kills 11

Suicide strike on Iraq minister's convoy kills 11

A suicide car bomber rammed into a convoy carrying Iraq's labour minister in morning traffic, killing 11 people and wounding 22 in central Baghdad, police said on Thursday. A spokesman for the Labour Ministry said Minister Mahmoud al-Sheikh Radhi was unhu
Published 24 Oct, 2008 12:00am
Pound hits fresh five-year low

Pound hits fresh five-year low

Sterling hit a five-year low against the dollar on Thursday, driven by broad buying of the US currency and Japanese yen at the expense of higher-yielding currencies.
Published 24 Oct, 2008 12:00am
Dollar surges broadly in London

Dollar surges broadly in London

The dollar hit two-year highs against the euro and a currency basket on Thursday as hobbled global shares highlighted the possibility of a looming recession and encouraged investors to continue cutting risk exposure.
Published 24 Oct, 2008 12:00am
Credit spreads touch record wides

Credit spreads touch record wides

European credit spreads touched record wides on Thursday on a combination of fears about corporate earnings, a slowdown in emerging markets growth and newly hedged positions on structured credit products.
Published 24 Oct, 2008 12:00am
Credit spreads touch record wides

Credit spreads touch record wides

European credit spreads touched record wides on Thursday on a combination of fears about corporate earnings, a slowdown in emerging markets growth and newly hedged positions on structured credit products.
Published 24 Oct, 2008 12:00am
Thursday's midday trade: Wall Street dips on economic worries

Thursday's midday trade: Wall Street dips on economic worries

US stocks slipped on Thursday, with the Dow and the S&P giving up gains by midday in volatile trading as investors' worries about the economy overshadowed an earlier bounce driven by bargain hunters. Caterpillar, a maker of bulldozers and excavators, weig
Published 24 Oct, 2008 12:00am
Philippines shares lower

Philippines shares lower

Philippines share prices closed 4.6 percent down on Thursday hitting a three-year low amid fears of a global recession, dealers said. The composite index lost 97.09 points to 1,995.92 - the first time the main barometer has fallen below 2,000 points since
Published 24 Oct, 2008 12:00am
Russian shares extend losses

Russian shares extend losses

Russian shares extended losses after a one hour trade suspension, hit by ratings agency Standard & Poors' downgrade of its outlook on Russia's sovereign rating and weaker US stock futures.
Published 24 Oct, 2008 12:00am
Malaysian stocks down

Malaysian stocks down

Malaysian stocks closed 1.43 percent lower on Thursday amid investors' fears over a looming world-wide recession, dealers said. The Kuala Lumpur Composite Index shed 12.96 points to end the day at 891.32 on a turnover of 579.38 million shares worth 1.04 b
Published 24 Oct, 2008 12:00am
China stocks slide

China stocks slide

China's main stock index fell 1.07 percent on Thursday, tracking a slump in overseas markets on the global economy's grim prospects, but gains in property shares spurred by a policy support package pulled the index from its lows. The benchmark Shanghai Co
Published 24 Oct, 2008 12:00am
FTSE 100 rises 1.2 percent

FTSE 100 rises 1.2 percent

Britain's leading share index ended up 1.2 percent on Thursday, rallying late on with Wall Street and as rising crude boosted heavyweight oil stocks. The FTSE 100 was 46.94 points higher at 4,087.83 at the close after a volatile session, having swung betw
Published 24 Oct, 2008 12:00am
New York cotton futures settle lower

New York cotton futures settle lower

Cotton futures settled lower Thursday on investor sales as fears of a global recession were reasserted and analysts feel the market will struggle to make headway toward higher ground. The key December cotton contract lost 1.34 cents to close at 49.08 cent
Published 24 Oct, 2008 12:00am
Copper pares losses

Copper pares losses

Copper prices fell to three-year lows on Thursday before partially recovering alongside a brief rebound in US equities, but worries about the global economic outlook should keep the metal under near-term pressure. "We have been running back and forth with
Published 24 Oct, 2008 12:00am
Oil rises as Opec weighs supply cut

Oil rises as Opec weighs supply cut

Oil rose on Thursday on expectations Opec will agree to cut output at an emergency meeting after slowing demand and the growing financial crisis sent prices crashing from record highs set this summer. Opec members gathering in Vienna ahead of the Friday m
Published 24 Oct, 2008 12:00am
London soft commodities ease

London soft commodities ease

Coffee, cocoa and sugar prices eased on Thursday as a strong dollar and weak equity markets weighed on soft commodities, dealers said. "The dollar has obliterated everybody," Lars Steffensen, managing director of London-based commodities fund Ebullio Capi
Published 24 Oct, 2008 12:00am
US gold slumps

US gold slumps

US gold futures slumped to their weakest close in over a year on Wednesday as the dollar surged and recession fears triggered a broad commodity sell-off. December settled down $32.80, or 4.3 percent, at $735.20 an ounce on the COMEX division of the New Yo
Published 24 Oct, 2008 12:00am
Gold falls to 13-month low in London

Gold falls to 13-month low in London

Gold fell on Thursday to a 13-month low as the strong dollar curbed demand for bullion as an alternative investment, but pared losses as the US currency slipped to session lows against the euro and oil firmed. Platinum and palladium also dropped on worrie
Published 24 Oct, 2008 12:00am
US MIDDAY: sugar slides

US MIDDAY: sugar slides

Raw sugar futures on ICE Futures US at 1230 GMT. March raw sugar contract fell 0.21 cent to 10.75 cents per lb. Trading from 10.73 to 11.15 cents. Volume at 11,621 lots. Sugar stumbles on investment fund sales because of the strong dollar and weak equity
Published 24 Oct, 2008 12:00am
US MIDDAY: soyabeans, corn and wheat up

US MIDDAY: soyabeans, corn and wheat up

Soyabean and corn futures on the Chicago Board of Trade were higher early Thursday in a technical rebound from steep declines this week, with worries about US Midwest harvest delays adding support, traders said. CBOT wheat followed soya and corn to higher
Published 24 Oct, 2008 12:00am
US MIDDAY: copper hits new three-year low

US MIDDAY: copper hits new three-year low

US copper futures slipped to a new three-year low in early trade on Thursday as concerns about demand prospects in a global economic downturn continued to drive investors out of the market. Copper for December delivery was trading down 5.95 cents, or 3.2
Published 24 Oct, 2008 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

US gold futures dropped in volatile trade on Thursday, but bargain hunting and commodity strength erased initial losses after bullion briefly falling below $700 an ounce on heavy selling by commodity funds, traders said. December gold down $8.10, or 1.2 p
Published 24 Oct, 2008 12:00am
'Grow more wheat' drive to commence on October 28

'Grow more wheat' drive to commence on October 28

The district government will commence the campaign to "Grow more wheat" on October 28. DCO, Qazi Muhammad Ashfaq at a meeting here on Thursday said that a walk would be held to sensitise local farmers about the need and importance of sowing more wheat, to
Published 24 Oct, 2008 12:00am
'Special attention being paid to farmers' welfare'

'Special attention being paid to farmers' welfare'

District Co-ordination Officer (DCO), Fazeel Asghar has said that Punjab government is paying special attention towards the welfare of the farmers under the instructions of Chief Minister Punjab, Mian Shahbaz Sharif. He was addressing to the ceremony of d
Published 24 Oct, 2008 12:00am
Flour not available at sale points

Flour not available at sale points

The flour crisis is ongoing in different cities of southern Punjab like all over the country. Punjab government has made different cheap flour sale points in different areas of the city but the people failed to get any flour from these points. On the othe
Published 24 Oct, 2008 12:00am
Green Tractor scheme draw held

Green Tractor scheme draw held

Provincial Minister for Religious Affairs, Ehsan Qureshi on Thursday by pressing a computer key inaugurated the ballot draw of the Green Tractor scheme in the DCO office at Bahawalnagar. Senior district admin officers, elected representatives, city elite
Published 24 Oct, 2008 12:00am
Government urged to set up mango research institute

Government urged to set up mango research institute

First annual general meeting (AGM) of Multan Mango Growers Association (MMGA) (Regd) was held here on Thursday under the chairmanship of Muzaffar Hayat Khakwani, who briefed the members that association was established to protect, preserve and promote the
Published 24 Oct, 2008 12:00am
Rehabilitation of families: Afrasiab seeks civil society's help

Rehabilitation of families: Afrasiab seeks civil society's help

The civil society should join hands with the government in its efforts to help out the bereaved families of those, who either lost their lives in blasts or sustained injuries. The ANP Secretary General and Ambassador for Peace Afrasiab Khattak expressed t
Published 24 Oct, 2008 12:00am
Violent demonstrators set Mepco office ablaze

Violent demonstrators set Mepco office ablaze

Angry demonstrators took out the streets to protest against over-billing and unscheduled load shedding, across the country on Thursday. According to details, people blocked roads in various areas in southern Punjab and burnt electricity bills, tyres and s
Published 24 Oct, 2008 12:00am
Speakers call to promote message of Maulana Rum

Speakers call to promote message of Maulana Rum

Speakers from different walks of life have stressed the need for promoting the thoughts, literatures and message of sufi poets like Jalaluddin Rumi due to present challenges being faced by Islam and Muslims. Addressing a function organised by Rumi Forum P
Published 24 Oct, 2008 12:00am
Cross-LoC trade may help resolve Kashmir dispute: Daultana

Cross-LoC trade may help resolve Kashmir dispute: Daultana

Parliamentary Secretary for Information and Broadcasting, Azeem Daultana on Thursday said opening of trade route across the Line of Control (LoC) in Kashmir has firmed up the hope to see resolution of the long-standing dispute in the near future.
Published 24 Oct, 2008 12:00am
Security concerns, parliament and ministers

Security concerns, parliament and ministers

In all fairness, holding of an in-camera session to address security concerns and to take the parliamentarians into confidence regarding the bitter and factual ground realities was a positive step. Both, President Asif Zardari and Prime Minister Syed Yous
Published 24 Oct, 2008 12:00am
Comments on Industrial Relations Act 2008 - VII

Comments on Industrial Relations Act 2008 - VII

It is high time that the parameters be laid down by the superior judiciary as to the grounds or circumstances under which back benefits, if any, are to be granted to be examined.
Published 24 Oct, 2008 12:00am
From stress to suicide - finance crisis takes its toll

From stress to suicide - finance crisis takes its toll

In the last hours of her life last week, Wanda Dunn, 53, took the time to settle her affairs, taking two small plants to a neighbour as well as some cheap clothes that she asked him to give to charity. Then she returned to the home she had lived in since
Published 24 Oct, 2008 12:00am
World Mental Health Day

World Mental Health Day

The theme for the 2008 World Mental Health Day campaign is "Making Mental Health A Global Priority - Scaling Up Services through Citizen Advocacy and Action." The day is observed in over 100 countries on October 10 through local, regional and national Wor
Published 24 Oct, 2008 12:00am
Raising paddy procurement price

Raising paddy procurement price

The government has fixed the procurement price of paddy at 700 rupees per 40 kilograms. The obvious question is: why has the procurement price been raised in spite of the fact that rice output is expected to be 10 percent more than last year, due mainly t
Published 24 Oct, 2008 12:00am
War on terror: commitment revisited

War on terror: commitment revisited

Never before in Pakistan has the parliament spoken with such clarity of thought and sincerity of purpose as it did this Wednesday by unanimously adopting a resolution that so unambiguously puts across the will of the people on the crucial issue of nationa
Published 24 Oct, 2008 12:00am
Irsa allocates 12.75 million acre feet water to Punjab for Rabi crops

Irsa allocates 12.75 million acre feet water to Punjab for Rabi crops

The Indus River System Authority (Irsa) has allocated 12.75 million acre feet (MAF) to Punjab for irrigating the winter Rabi crops 2008-09, Punjab Irrigation sources told Business Recorder here on Thursday. They said this allocation is about 40 per
Published 24 Oct, 2008 12:00am
Fehmida for greater interaction with US lawmakers

Fehmida for greater interaction with US lawmakers

National Assembly Speaker Dr Fehmida Mirza on Thursday said that adoption of unanimous resolution on national security was a big achievement of the Parliament. While talking to US Ambassador Anne W Patterson who called on her in Parliament House, she said
Published 24 Oct, 2008 12:00am
Pak-Afghan jirga to help address common problems

Pak-Afghan jirga to help address common problems

Eminent political analyst, Dr Mehdi Hassan on Thursday said both Pakistan and Afghanistan are victims of terrorism and convening of the joint jirga would help address the common problem. Pakistan and Afghanistan have decided to convene a mini Jirga in Isl
Published 24 Oct, 2008 12:00am
Tribal jirga resolves to implement peace accord

Tribal jirga resolves to implement peace accord

Utmanzai tribe of North Waziristan Agency on Thursday has reiterated its resolve to follow and implement the Waziristan Peace Accord assured unflinching support and co-operation for the security, defence and solidarity of Pakistan.
Published 24 Oct, 2008 12:00am
Payment of electricity bills put on hold by government

Payment of electricity bills put on hold by government

The Government has put on hold recovery of revised power dues for 10 days throughout the country, hence, no surcharge would be levied on account of late payments on the power bills issued by the KESC and the Pepco managed eight Discos on the basis of revi
Published 24 Oct, 2008 12:00am
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