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Print - 2009-01-17
LG Display suffers record loss on fine, weak demand

LG Display suffers record loss on fine, weak demand

Flat-screen maker LG Display Co Ltd swung to a record loss in the fourth quarter, its first loss in seven quarters, and drew a sombre picture of the current period, predicting lower shipments and weak prices. Although a sizeable part of LG's loss was due
Published 17 Jan, 2009 12:00am
Australia sheds full-time jobs, worse to come

Australia sheds full-time jobs, worse to come

Australian employment fell by less than expected overall in December but a steep drop in full-time positions and a rise in the jobless rate heralded weakness ahead, reinforcing the case for further interest rate cuts. Thursday's report from the government
Published 17 Jan, 2009 12:00am
European firms paralysed by lack of financing

European firms paralysed by lack of financing

Europe's companies are choked by a lack of financing, the continent's top business group warned on Friday, saying the European Central Bank should have a bigger role in reviving the paralysed economy. BusinessEurope said it expected the ECB to cut interes
Published 17 Jan, 2009 12:00am
Spain: economy will shrink, unemployment will soar

Spain: economy will shrink, unemployment will soar

Spain's economy will contract 1.6 percent this year and unemployment will jump to nearly 16 percent, the government predicted Friday in a desperately gloomy outlook for a country that had been one of Europe's great success stories. This year the governmen
Published 17 Jan, 2009 12:00am
Obama hitting the road to sell his economic plan

Obama hitting the road to sell his economic plan

Seeking an early victory on a top priority, President-elect Barack Obama is pitching workers in the ailing Midwest on his plan for some $825 billion in new spending and tax cuts to spur the troubled economy. The president-elect on Friday was to tour a nor
Published 17 Jan, 2009 12:00am
ISE index sheds 63.11 points

ISE index sheds 63.11 points

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) on Friday where selling pressure intensified in hot favourites amid decrease in index. ISE-10 Index showed a decrease of 63.11 points from 1,197.46 to 1,134.35 points.
Published 17 Jan, 2009 12:00am
Germany sees economy in record recession

Germany sees economy in record recession

The German government expects the economy to contract by a record of some 2.25 percent in 2009 and for unemployment to rise by around 500,000 by the end of the year, a senior government official said on Friday. Speaking on condition of anonymity, the offi
Published 17 Jan, 2009 12:00am
ISE index sheds 63.11 points

ISE index sheds 63.11 points

Bears strengthened their positions at the Islamabad Stock Exchange (ISE) on Friday where selling pressure intensified in hot favourites amid decrease in index. ISE-10 Index showed a decrease of 63.11 points from 1,197.46 to 1,134.35 points.
Published 17 Jan, 2009 12:00am
World Bank approves $100 million loan for Jamaica

World Bank approves $100 million loan for Jamaica

The World Bank on Thursday approved a $100 million loan for Jamaica to aid the government's efforts to reduce its high debt levels. The island state has been hard hit by the global economic crisis that has eaten away at its foreign currency reserves and w
Published 17 Jan, 2009 12:00am
Miliband brings more 'evidence' about Mumbai attacks

Miliband brings more 'evidence' about Mumbai attacks

British Foreign Secretary David Miliband on Friday provided more evidences about Mumbai attacks to Pakistan sent by India and urged Pakistan government to take further and faster steps to ensure immediate prosecution of the culprits.
Published 17 Jan, 2009 12:00am
G30 says broken financial system needs fixing

G30 says broken financial system needs fixing

The Group of 30 countries on Thursday called for changes in international financial regulation to help avoid future meltdowns, but its recommendations were vague and non-binding. In findings that made no reference to the issue of executive compensation, t
Published 17 Jan, 2009 12:00am
Miliband brings more 'evidence' about Mumbai attacks

Miliband brings more 'evidence' about Mumbai attacks

British Foreign Secretary David Miliband on Friday provided more evidences about Mumbai attacks to Pakistan sent by India and urged Pakistan government to take further and faster steps to ensure immediate prosecution of the culprits.
Published 17 Jan, 2009 12:00am
Sony Ericsson fourth quarter loss much bigger than expected

Sony Ericsson fourth quarter loss much bigger than expected

Mobile phone maker Sony Ericsson posted a much-bigger-than-expected fourth-quarter loss on Friday and announced plans for additional cost savings as it braced for market conditions to worsen. Pretax losses totalled 261 million euros ($346 million) versus
Published 17 Jan, 2009 12:00am
Sony Ericsson fourth quarter loss much bigger than expected

Sony Ericsson fourth quarter loss much bigger than expected

Mobile phone maker Sony Ericsson posted a much-bigger-than-expected fourth-quarter loss on Friday and announced plans for additional cost savings as it braced for market conditions to worsen. Pretax losses totalled 261 million euros ($346 million) versus
Published 17 Jan, 2009 12:00am
Russian 2009 oil output seen falling 1.6 percent

Russian 2009 oil output seen falling 1.6 percent

Russia will produce 1.6 percent less oil in 2009, extending its first decline in a decade, due to a lack of new greenfield developments and a sharp drop in crude prices, a Reuters poll showed on Thursday. Oil production in the world's No 2 exporter after
Published 17 Jan, 2009 12:00am
Chinese economy faces harsher environment

Chinese economy faces harsher environment

China's economy faces a harsher and more complex environment as the global economic crisis deepens in severity, Zhou Xiaochuan, the country's central bank governor, said on Friday. "The international financial crisis is still spreading, and the risk of gl
Published 17 Jan, 2009 12:00am
Putin says Moscow nearing deal to supply gas

Putin says Moscow nearing deal to supply gas

Russian Prime Minister Vladimir Putin said on Friday that Moscow was nearing a deal to deliver gas to European customers after a contract dispute with Ukraine that has cut supplies since the start of the year. "We are approaching interesting agreements wh
Published 17 Jan, 2009 12:00am
Taiwan stocks off six-week low

Taiwan stocks off six-week low

Taiwan stocks rose 0.76 percent on Friday, with the island's top two LCD makers AU and Chi Mei leading gains after saying they would sign tie-up deals with Chinese TV makers to develop the mainland market. The main TAIEX share index closed 32.93 points hi
Published 17 Jan, 2009 12:00am
Putin says Moscow nearing deal to supply gas

Putin says Moscow nearing deal to supply gas

Russian Prime Minister Vladimir Putin said on Friday that Moscow was nearing a deal to deliver gas to European customers after a contract dispute with Ukraine that has cut supplies since the start of the year. "We are approaching interesting agreements wh
Published 17 Jan, 2009 12:00am
Singapore shares soar

Singapore shares soar

Singapore shares closed 1.55 percent higher on Friday despite data showing the city-state's key exports fell more than expected in December from a year ago, dealers said. Banks got a lift from news that Bank of America, the largest US bank by assets, will
Published 17 Jan, 2009 12:00am
Putin says Moscow nearing deal to supply gas

Putin says Moscow nearing deal to supply gas

Russian Prime Minister Vladimir Putin said on Friday that Moscow was nearing a deal to deliver gas to European customers after a contract dispute with Ukraine that has cut supplies since the start of the year. "We are approaching interesting agreements wh
Published 17 Jan, 2009 12:00am
Hong Kong shares rally

Hong Kong shares rally

Hong Kong shuffled sideways on Friday, underperforming most regional markets, which gained on news of a US government rescue for Bank of America, as HSBC tanked for a third straight session on its second broker downgrade this week. The blue chip index end
Published 17 Jan, 2009 12:00am
Israel may halt Gaza war, ignore Hamas demands

Israel may halt Gaza war, ignore Hamas demands

Israel might halt its Gaza war unilaterally to deprive Hamas of any political gains from an Egyptian-brokered truce deal, political sources said on Friday. Amid feverish diplomacy in Cairo and Washington, Israel said its offensive could be "in the final a
Published 17 Jan, 2009 12:00am
US stocks buoyed by stimulus hopes

US stocks buoyed by stimulus hopes

US stocks rose on Thursday amid market optimism the government will act to prevent the year-long recession from deepening, offsetting news that Bank of America was seeking more government aid that had fuelled worries about the health of the financial sect
Published 17 Jan, 2009 12:00am
Israel may halt Gaza war, ignore Hamas demands

Israel may halt Gaza war, ignore Hamas demands

Israel might halt its Gaza war unilaterally to deprive Hamas of any political gains from an Egyptian-brokered truce deal, political sources said on Friday. Amid feverish diplomacy in Cairo and Washington, Israel said its offensive could be "in the final a
Published 17 Jan, 2009 12:00am
Malaysian shares climb

Malaysian shares climb

Malaysian share prices closed up 0.1 percent on Friday amid weak sentiment on a lack of fresh leads and ahead of a hotly-contested by-election, dealers said. The Kuala Lumpur Composite Index rose 0.73 points to close at 898.18 on turnover of 546.61 millio
Published 17 Jan, 2009 12:00am
US Treasuries little changed

US Treasuries little changed

US Treasury debt prices ended little changed on Thursday, supported by safe-haven bids and concerns about the economic outlook. With stocks spending most of the session on the minus side before registering slight gains at the end of the day, investors sti
Published 17 Jan, 2009 12:00am
US Treasuries little changed

US Treasuries little changed

US Treasury debt prices ended little changed on Thursday, supported by safe-haven bids and concerns about the economic outlook. With stocks spending most of the session on the minus side before registering slight gains at the end of the day, investors sti
Published 17 Jan, 2009 12:00am
Chinese stocks at three-week high

Chinese stocks at three-week high

Chinese stock market surged to a three-week closing high in heavy trade on Friday, as machinery and shipbuilding shares jumped on hopes that those sectors would be the next to receive government aid. The Shanghai Composite Index ended up 1.78 percent at 1
Published 17 Jan, 2009 12:00am
Thai shares end firmer

Thai shares end firmer

Thai shares closed 2.10 percent higher on Friday due to a short-term technical rebound following a steep fall the previous day, dealers said. The bourse rose in line with the regional trend as it welcomed news from the United States on president-elect Bar
Published 17 Jan, 2009 12:00am
Nikkei climbs 2.6 percent

Nikkei climbs 2.6 percent

Japan's Nikkei average climbed 2.6 percent on Friday, with investors reassured by a US government rescue for Bank of America Corp including a $20 billion injection and a guarantee for almost $100 billion of potential losses on toxic assets. A retreat in t
Published 17 Jan, 2009 12:00am
Philippines shares tumble

Philippines shares tumble

Philippines share prices closed 0.2 percent lower on Friday as investors cashed in on early gains going into the weekend prior to the inauguration of Barack Obama as US president, dealers said. The composite index shed 4.84 points to 1,950.13, while the a
Published 17 Jan, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was trapped in a narrow range against the US dollar on Friday, with attention focusing on moves in the stock market and fund flows. The local currency traded between 7.7581 and 7.7595 against the US dollar for most of the day, little
Published 17 Jan, 2009 12:00am
China central bank keeps yuan stable versus dollar

China central bank keeps yuan stable versus dollar

The yuan closed nearly flat against the dollar on Friday after the Chinese central bank fixed its daily reference rate almost unchanged, again signalling its desire to keep the yuan stable against the US currency for now. Before trade began, the central b
Published 17 Jan, 2009 12:00am
Yen slips as stocks stabilise

Yen slips as stocks stabilise

The yen slipped broadly on Friday after US stocks rose on optimism about a fresh stimulus package, and its retreat against the euro helped the single currency extend a rebound from a five-week low versus the dollar. Investors' risk appetite recovered slig
Published 17 Jan, 2009 12:00am
Dollar rallies versus euro

Dollar rallies versus euro

The euro traded near a five-week low against the dollar on Thursday as the European Central Bank cut interest rates and left the door open to further borrowing cost reductions in the months ahead. The dollar, meanwhile, rose against the yen as hopes the U
Published 17 Jan, 2009 12:00am
Australian dollar recovers from one-month lows

Australian dollar recovers from one-month lows

The Australian dollar recovered from a one-month low on Friday as rebounding stock markets saw a modest improvement in investor risk appetite, lifting higher-yielding currencies. The recovery was seen as temporary, with investors braced for US December in
Published 17 Jan, 2009 12:00am
Asian currencies rebound

Asian currencies rebound

Asian currencies rebounded on Friday as a fresh US capital injection into Bank of America buoyed investors' appetite for risky assets, but analysts remained cautious given the gloomy global economic outlook. Leading the pack was a nearly 3 percent jump in
Published 17 Jan, 2009 12:00am
Swiss franc eases versus euro

Swiss franc eases versus euro

The Swiss franc slipped against the euro on Friday after Swiss National Bank board member Thomas Jordan said its strength was a concern and as risk aversion eased on optimism about a new US stimulus package. The Swiss franc has gained nearly 7 percent aga
Published 17 Jan, 2009 12:00am
ELBA-PAF clash in PFF League January 18

ELBA-PAF clash in PFF League January 18

Debutant ELBA Pure Water Football team will take on former National Champion Pakistan Air Force in the stimulating Group-B clash of Pakistan Football Federation (PFF) League-Departmental Phase 2008 on 18th January, here at Model Town Football Academy (MTF
Published 17 Jan, 2009 12:00am
Nieminen upsets Djokovic to reach Sydney final

Nieminen upsets Djokovic to reach Sydney final

Finland's Jarkko Nieminen cashed in on Novak Djokovic's shaky forehand to send the top seed crashing out of the Sydney International on Friday. The 40th-ranked Nieminen savoured one of his finest results on the ATP Tour to reach Saturday's Sydney final wi
Published 17 Jan, 2009 12:00am
Sangakkara and Murali shatter Bangladesh dream

Sangakkara and Murali shatter Bangladesh dream

Kumar Sangakkara cracked a solid 59 and Muttiah Muralitharan hammered 33 off 16 balls as Sri Lanka clinched a thrilling two-wicket win over Bangladesh in the tri-series final Friday. Sri Lanka made a horror start when they lost five wickets for six runs -
Published 17 Jan, 2009 12:00am
Dementieva wins 10th straight match to take Sydney title

Dementieva wins 10th straight match to take Sydney title

Elena Dementieva will head into next week's Australian Open riding on a wave of 10 straight wins this year after beating Dinara Safina in an all-Russian final at the Sydney WTA International Friday. The world number four was too composed and consistent fo
Published 17 Jan, 2009 12:00am
South Africa beat Australia in tense opener

South Africa beat Australia in tense opener

South Africa defeated the host Australia in the opening match of the One-day International series played here at the Melbourne cricket ground on Friday. South Africa chasing a target of 272 lost early wickets before JP Duminy (71) and Neil McKenzie (63) a
Published 17 Jan, 2009 12:00am
LDA drive against encroachments continues

LDA drive against encroachments continues

The Lahore Development Authority (LDA) on Friday pulled down two illegally erected iron gates in Bhatti Colony, off Model Town Link Road demolished eight ramps and platforms at Peco Road. According to a LDA's spokesman, all these structures were creating
Published 17 Jan, 2009 12:00am
Rain speeds Antarctic Peninsula glacier melt

Rain speeds Antarctic Peninsula glacier melt

More rain on the Antarctic Peninsula is speeding a melt of glaciers such as the Sheldon, which has retreated 2 km (1.2 miles) in 20 years and is nudging up world sea levels, a leading expert said. "Rain is very corrosive to glaciers and at least in part t
Published 17 Jan, 2009 12:00am
Thailand to consider waiving visa fees: Prime Minister

Thailand to consider waiving visa fees: Prime Minister

Thai Prime Minister Abhisit Vejjajiva said his government may waive visa fees for all tourists for three months in a bid to boost visitor numbers following last year's siege of Bangkok's airports. Abhisit - who has come under fire for including in his gov
Published 17 Jan, 2009 12:00am
Live up to commitments, Africa tells rich nations

Live up to commitments, Africa tells rich nations

Rich nations must live up to their commitments to boost development in poor countries and must guard against protectionism in dealing with the global financial crisis, African economic officials said on Friday. Multilateral lending institutions also neede
Published 17 Jan, 2009 12:00am
Rubber bullets fired as Lithuanians protest austerity drive

Rubber bullets fired as Lithuanians protest austerity drive

Police fired tear gas and rubber bullets to ward off protesters outside Lithuania's parliament Friday, as thousands joined a demonstration against an austerity drive. At least one officer and one demonstrator were injured in scuffles between the protester
Published 17 Jan, 2009 12:00am
Philippine troops scour island for ICRC captives

Philippine troops scour island for ICRC captives

Philippine troops have fanned out on a southern island to search for gunmen who abducted three members of the International Committee on the Red Cross (ICRC), including an Italian and a Swiss national, officials said on Friday. The abduction, on the islan
Published 17 Jan, 2009 12:00am
Congo villagers take up arms against LRA rebels

Congo villagers take up arms against LRA rebels

Congolese villagers are forming self-defence groups to protect homes and families from Ugandan LRA rebels. LRA rebels have killed 567 people and displaced 115,000 in north-east Democratic Republic of Congo's Oriental province since September, UN refugee a
Published 17 Jan, 2009 12:00am
Singer Boy George gets jail

Singer Boy George gets jail

Former Culture Club frontman Boy George was sentenced on Friday to 15 months in jail after being found guilty last month of falsely imprisoning Norwegian male escort Audun Carlsen. Tried under his real name George O'Dowd, the 47-year-old Briton denied the
Published 17 Jan, 2009 12:00am
New York fetes pilot who ditched jetliner in river

New York fetes pilot who ditched jetliner in river

New York feted its latest hero, the pilot who landed a distressed US Airways jetliner on the Hudson River, saving all 155 on board in what experts called a masterful job under life-or-death pressure. Chesley "Sully" Sullenberger had yet to appear in publi
Published 17 Jan, 2009 12:00am
Pope floats possibility of bilateral commission with Iran

Pope floats possibility of bilateral commission with Iran

The Vatican is studying the possibility of creating a bilateral commission to improve relations and understanding between the Catholic Church and Iran, Pope Benedict XVI said on Friday. In an address to visiting Iranian bishops, the pope first described t
Published 17 Jan, 2009 12:00am
France and UK want interim change to UNSC: Sarkozy

France and UK want interim change to UNSC: Sarkozy

French President Nicolas Sarkozy said on Friday his country and Britain would push next month for an interim reform of the UN Security Council. Sarkozy said the United Nations General Assembly was due next month to examine the long-stalled issue of reform
Published 17 Jan, 2009 12:00am
Ahmadinejad demands prosecution of Israel's leaders

Ahmadinejad demands prosecution of Israel's leaders

Israel's arch foes condemned the Gaza onslaught at a summit in Qatar on Friday, with Iranian President Mahmoud Ahmadinejad calling for the prosecution of Israeli leaders by an international court. Also at the summit, Qatar and Mauritania decided to suspen
Published 17 Jan, 2009 12:00am
War and crowds complicate Obama's inaugural security

War and crowds complicate Obama's inaugural security

Barack Obama's inauguration as the first US black president will take place on Tuesday amid unprecedented security aimed at protecting him as well as the record crowds expected to attend. With about 1.5 million people expected to take part in three days o
Published 17 Jan, 2009 12:00am
12 Afghans jailed for 155 years

12 Afghans jailed for 155 years

Afghan courts have sentenced 12 drugs smugglers to a total of 155 years in jail after their arrests led to the seizure of heroin and opium valued at 97 million dollars, a British team said Friday. The men were all from the southern province of Helmand, th
Published 17 Jan, 2009 12:00am
African Union chides 'negative' media on Somalia

African Union chides 'negative' media on Somalia

The African Union (AU) rebuked media on Friday for "negative" coverage of Somalia, saying the Ethiopian military withdrawal was a major step towards peace for the Horn of Africa nation but had been portrayed otherwise. "It is sad to note that positive dev
Published 17 Jan, 2009 12:00am
EU warns of new sanctions on Mugabe

EU warns of new sanctions on Mugabe

The European Union may impose further new sanctions against Zimbabwe President Robert Mugabe's government, the Czech foreign minister told reporters Friday. Karel Schwarzenberg, whose country holds the EU presidency, spoke after meeting with his South Afr
Published 17 Jan, 2009 12:00am
Transport ministers agree to promote lower CO2 emissions

Transport ministers agree to promote lower CO2 emissions

Top transport officials from 21 major countries agreed on Friday to promote a reduction of carbon dioxide emissions in the sector to combat climate change, aiming to drive talks under a broader UN framework. Shipping, airline and inland transport, which t
Published 17 Jan, 2009 12:00am
Russia plans navy bases in Libya, Syria and Yemen

Russia plans navy bases in Libya, Syria and Yemen

Russia has decided to establish naval bases in Libya, Syria and Yemen within a few years, Itar-Tass news agency quoted military officials as saying on Friday, in a sign of Moscow's growing foreign policy ambitions. "It is difficult to say how much time it
Published 17 Jan, 2009 12:00am
Wealthy US businessman jailed

Wealthy US businessman jailed

A judge has sentenced a wealthy US businessman to two years in jail for stealing pages from rare books at venerable British libraries to enhance his own collection. Staff at the British Library in London and Oxford's Bodleian Library believe Farhad Hakimz
Published 17 Jan, 2009 12:00am
United States signs nuclear cooperation deal with UAE

United States signs nuclear cooperation deal with UAE

With just five days left in office, the Bush administration signed a nuclear deal with the United Arab Emirates on Thursday despite concerns in Congress the UAE is not doing enough to curb Iran's atomic plans. US Secretary of State Condoleezza Rice hailed
Published 17 Jan, 2009 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee strengthened on Friday as strong gains in local shares buoyed hopes for fresh capital inflows, while the dollar's slide against other major currencies overseas helped sentiment. The partially convertible rupee closed at 48.78/80 per dolla
Published 17 Jan, 2009 12:00am
Sterling surges versus dollar

Sterling surges versus dollar

Sterling rose against a broadly retreating dollar on Friday, as the US currency slid in league with the yen after a $20 billion US government aid package for Bank of America dampened extreme risk aversion. The pound also gained traction against the euro a
Published 17 Jan, 2009 12:00am
Euro, higher-yielding currencies gain in London

Euro, higher-yielding currencies gain in London

The euro and higher-yielding currencies gained at the expense of the dollar and yen on Friday as share prices rose, buoyed by optimism after the US government pledged fresh financial aid for Bank of America. Risk aversion calmed as Wall Street stocks snap
Published 17 Jan, 2009 12:00am
Banking fears lift dollar money market rates

Banking fears lift dollar money market rates

Dollar interbank lending rates pushed higher on Friday, reflecting intensifying strains in money markets as fears of credit losses at top US banks mounted, causing other lending spreads to widen as well. While central banks may have helped banks tide over
Published 17 Jan, 2009 12:00am
Shahid Malik meets Gilani

Shahid Malik meets Gilani

Pakistan's High Commissioner in India Shahid Malik called on Prime Minister, Syed Yusuf Raza Gilani at the PM's House on Friday afternoon. He apprised the Prime Minister on the evolving situation in the wake of Mumbai incidents and the present state of Pa
Published 17 Jan, 2009 12:00am
Parliamentary secretary for Commerce refuses to answer MNA's queries

Parliamentary secretary for Commerce refuses to answer MNA's queries

The government on Friday faced an embarrassing situation in National Assembly when Parliamentary secretary for Commerce Noor Alam Khan refused to answer queries of MNAs during question hour. It happened in the house, when Prime Minister Syed Yousuf Raza G
Published 17 Jan, 2009 12:00am
Dr Asim visits OGDCL

Dr Asim visits OGDCL

Dr Asim Hussain, Advisor to PM for Petroleum & Natural Resources, Mahmood Saleem Mahmood, Federal Secretary P&NR visited OGDCL on Friday. The advisor emphasised the need to step up the exploration, drilling and production activities in the country.
Published 17 Jan, 2009 12:00am
Transfers and postings in FBR

Transfers and postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted three senior officials of Income Tax Group (BS-19) with immediate effect.
Published 17 Jan, 2009 12:00am
PAC takes serious note of misappropriation in government departments

PAC takes serious note of misappropriation in government departments

Public Accounts Committee (PAC) took serious note of the mismanagement and misappropriation of funds in government departments and directed the heads of the departments to make sure to maintain complete financial discipline and transparency in their accou
Published 17 Jan, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Every day the Prime Minister Yousaf Raza Gilani makes a number of statements. Yes, this was, generally, the case. But on Friday he behaved like a miser and avoided making any statement on the worsening situation in restive Swat valley.
Published 17 Jan, 2009 12:00am
LPGDA demands government to form price control committee

LPGDA demands government to form price control committee

LPG Distributors Association of Pakistan has demanded the government to immediately constitute price control committee under the Petroleum Ministry to oversee the LPG prices. Addressing a press conference here, chairman LPG Distributors Association Irfan
Published 17 Jan, 2009 12:00am
Mobilink ranked amongst top 100 mobile operator brands

Mobilink ranked amongst top 100 mobile operator brands

Mobilink, the country's market leader in cellular communication with more than 30 million customers and part of the Orascom Telecom Group, is the only Pakistani operator to have been ranked amongst the top 100 Mobile Operator Brands in the world by Inform
Published 17 Jan, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Friday on hopes that the United States would dole out more funds to aid its ailing banks, but premiums for South Korea's debt widened after Moody's warned it would cut ratings on 10 lenders. Korea Development Bank (KDB) issu
Published 17 Jan, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Friday on hopes that the United States would dole out more funds to aid its ailing banks, but premiums for South Korea's debt widened after Moody's warned it would cut ratings on 10 lenders. Korea Development Bank (KDB) issu
Published 17 Jan, 2009 12:00am
European credit derivatives move tighter

European credit derivatives move tighter

European credit derivative indices moved tighter on Friday, despite a slew of bad news from banks as dealers moved to cover their positions, while the primary issuance market reached record levels. By 1542 GMT, the investment-grade Markit iTraxx Europe in
Published 17 Jan, 2009 12:00am
European credit derivatives move tighter

European credit derivatives move tighter

European credit derivative indices moved tighter on Friday, despite a slew of bad news from banks as dealers moved to cover their positions, while the primary issuance market reached record levels. By 1542 GMT, the investment-grade Markit iTraxx Europe in
Published 17 Jan, 2009 12:00am
Friday's midday trade: Wall Street cuts gains on bank woes

Friday's midday trade: Wall Street cuts gains on bank woes

The S&P 500 and Nasdaq briefly turned negative on Friday while the Dow cut gains, dragged lower by the financial sector as worries about the health of banks persisted. Declines in J.P. Morgan and Bank of America helped lead the financial sector down.
Published 17 Jan, 2009 12:00am
Indian shares gain

Indian shares gain

Indian stocks rose 3.06 percent on Friday, as Wall Street gained on news of an economic stimulus package to be introduced in Congress and another handout for Bank of America, dealers said. The benchmark 30-share Sensex index rose 276.85 points to 9,323.59
Published 17 Jan, 2009 12:00am
FTSE ends seven-day losing run, but Barclays slumps

FTSE ends seven-day losing run, but Barclays slumps

Britain's leading share index rose 0.6 percent on Friday to snap a seven-day losing run, as gains in commodity stocks offset gloom in banks, with Barclays being hit hard. The FTSE 100 closed 25.95 points higher at 4,147.06, after trading to a high of 4,25
Published 17 Jan, 2009 12:00am
Polythene bag manufacturers SHC restrains CDGK from taking action

Polythene bag manufacturers SHC restrains CDGK from taking action

A division bench of Sindh High Court, comprising Justice Khilji Arif Hussain and Justice Arsahd Noor Khan on Friday issued notice to the City District Government Karachi and other respondents for January 22 in a petition filed by All Karachi Plastic Bag M
Published 17 Jan, 2009 12:00am
Cardiologist Professor Ashfaq dies

Cardiologist Professor Ashfaq dies

Leading Cardiologist Professor Dr Ashfaq Ahmed Khan, elder brother of Provincial Secretary Health Anwar Ahmed Khan, has died on Friday. His funeral prayer was held in Khalid Mosque, Cavalry Ground.
Published 17 Jan, 2009 12:00am
Doctor gunned down

Doctor gunned down

Two unknown motorcyclists gunned down Shaikh Zaid Hospital administrator Dr Abdul Saboor early morning Friday near Model Town. Dr Saboor, 47, was on his way to the hospital from his residence at Model Town when two unknown miscreants on motorcyclists stop
Published 17 Jan, 2009 12:00am
Award to Boucher: PTI demands Zardari to apologise publicly

Award to Boucher: PTI demands Zardari to apologise publicly

Pakistan Tehreek-e-Insaf (PTI) held a protest here on Friday against President Asif Zardari for giving the prestigious Quaid-i-Azam award to US Assistant Secretary of State Richard Boucher and demanded a public apology. PTI Women Wing's Punjab president S
Published 17 Jan, 2009 12:00am
Medical college for workers' children to be set up soon

Medical college for workers' children to be set up soon

Punjab Minister for Labour and Human Resources, Muhammad Ashraf Khan Sohna has said that a separate medical college would be set up for the children of workers while scholarship will be awarded to talented students to study abroad. He was addressing a cer
Published 17 Jan, 2009 12:00am
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