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Print - 2009-01-30
Over million French strikers demand job protection

Over million French strikers demand job protection

More than a million French workers walked off the job Thursday on a national day of strikes and protests against President Nicolas Sarkozy's handling of the economic crisis. Billed as a "Black Thursday", the day of action stopped short of paralysing the P
Published 30 Jan, 2009 12:00am
Colorado man indicted for Obama 'murder threat'

Colorado man indicted for Obama 'murder threat'

A 20-year-old Colorado man has been indicted for threatening to kill President Barack Obama, a spokesman for the US Attorney's office said here Thursday. Timothy Ryan Gutierrez is alleged to have sent an email to the FBI in Washington threatening to kill
Published 30 Jan, 2009 12:00am
US rice futures dip

US rice futures dip

US rough rice futures on the Chicago Board of Trade slipped to contract lows on Wednesday, a week-long trend, as big world stocks coupled with soft demand for American rice triggered sales, traders said. -- Rice ended lower despite the firmer close in oth
Published 30 Jan, 2009 12:00am
Oil and gas moot on January 31

Oil and gas moot on January 31

An oil and gas conference will be held here on Saturday aimed at providing opportunities to the local and international organisations to learn more about business-friendly policies of the government. Ministry of Petroleum and Natural Resources' Secretary
Published 30 Jan, 2009 12:00am
The Weather

The Weather

The weather report on Thursday (January 29, 2009) and the forecast for Friday (January 30, 2009).

Published 30 Jan, 2009 12:00am
Sony sinks to third quarter loss, Nintendo cuts outlook

Sony sinks to third quarter loss, Nintendo cuts outlook

Sony Corp fell into the red in the latest quarter and reiterated its forecast for a record annual loss due to sliding demand and a stronger yen, while rival Nintendo Co cut its full-year outlook for the second time in three months.
Published 30 Jan, 2009 12:00am
Iraq scraps licence of US security firm Blackwater

Iraq scraps licence of US security firm Blackwater

Iraq said on Thursday it is scrapping the licence of controversial US security firm Blackwater because of a 2007 shooting in downtown Baghdad involving its guards in which several civilians died. The notice, which comes as Iraqis are set to go to the poll
Published 30 Jan, 2009 12:00am
Tokyo rubber down

Tokyo rubber down

Key Tokyo rubber futures fell more than 2 percent on Thursday as a firmer yen shaved earlier gains chalked up on seasonal supply concerns, although it still managed to finish above 140 yen. The key Tokyo Commodity Exchange rubber contract for July deliver
Published 30 Jan, 2009 12:00am
New Haj policy being formulated

New Haj policy being formulated

'A revolutionary Haj policy is being formulated, which will accommodate all sections of the society and after studying its different aspects, the policy would be presented before the cabinet for approval.' The Federal Minister for Religious Affairs, Syed
Published 30 Jan, 2009 12:00am
Sony sinks to third quarter loss, Nintendo cuts outlook

Sony sinks to third quarter loss, Nintendo cuts outlook

Sony Corp fell into the red in the latest quarter and reiterated its forecast for a record annual loss due to sliding demand and a stronger yen, while rival Nintendo Co cut its full-year outlook for the second time in three months.
Published 30 Jan, 2009 12:00am
Shoe statue unveils in Tikrit

Shoe statue unveils in Tikrit

The shoe-hurling last month at then President George W. Bush spawned a flood of Web quips, political satire and street rallies across the Arab world. Now, it's inspired a work of art. A sofa-sized shoe statue was formally unveiled to the public Thursday i
Published 30 Jan, 2009 12:00am
Farooq Bengali Pakistan''s top taxpayer

Farooq Bengali Pakistan''s top taxpayer

Pakistan''s top income taxpayer within the "individual category" is Farooq Bengali, who has declared income of Rs 110 million. FBR Member Inland Revenue Irfan Nadeem told Senate Standing Committee on Finance and Revenue here on Thursday that the Bengali i
Published 30 Jan, 2009 12:00am
New York sugar closes mixed

New York sugar closes mixed

Raw sugar futures settled mixed on Wednesday on modest investor and possibly producer sales as the market consolidated after hitting a four-month top, brokers said. The key March raw sugar contract shed 0.04 cent to end at 12.87 cents per lb. Trades spann
Published 30 Jan, 2009 12:00am
Jakhrani assures more foreign scholarships for Balochistan doctors

Jakhrani assures more foreign scholarships for Balochistan doctors

Minister for Health, Mir Aijaz Hussain Jakhrani on Thursday said that federal government will provide all possible assistance to the Government of Balochistan in the health sector. Talking to the Chief Minister Balochistan Nawab Aslam Raisani, who called
Published 30 Jan, 2009 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 30 Jan, 2009 12:00am
Farooq Bengali Pakistan's top taxpayer

Farooq Bengali Pakistan's top taxpayer

Pakistan's top income taxpayer within the "individual category" is Farooq Bengali, who has declared income of Rs 110 million. FBR Member Inland Revenue Irfan Nadeem told Senate Standing Committee on Finance and Revenue here on Thursday that the Bengali is
Published 30 Jan, 2009 12:00am
Russia plans airbases in Georgia rebel region

Russia plans airbases in Georgia rebel region

Russia may base warplanes in Georgia's rebel Abkhazia region in support of a naval base soon to be constructed there, Interfax news agency quoted a Russian official as saying on Thursday. Nato countries expressed concern on Wednesday at reports on Interfa
Published 30 Jan, 2009 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 30 Jan, 2009 12:00am
Soyabean futures up

Soyabean futures up

March up 13-1/2 cents at $9.89-3/4 a bushel; May up 13 at $9.96-3/4. Technical buying after slipping below $10 on Tuesday. Worries about smaller South American crop despite recent rains in Argentina, third largest soy exporter, and forecasts for more, wei
Published 30 Jan, 2009 12:00am
Farooq Bengali Pakistan's top taxpayer

Farooq Bengali Pakistan's top taxpayer

Pakistan's top income taxpayer within the "individual category" is Farooq Bengali, who has declared income of Rs 110 million. FBR Member Inland Revenue Irfan Nadeem told Senate Standing Committee on Finance and Revenue here on Thursday that the Bengali is
Published 30 Jan, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Greek farmers open some roads; borders still shut

Greek farmers open some roads; borders still shut

Greek farmers protesting low prices lifted many of their roadblocks on Thursday after accepting a government aid package but border crossings with Bulgaria remained blocked. The blockades, which have caused travel chaos across Greece and angered Bulgaria,
Published 30 Jan, 2009 12:00am
Malaysian palm oil slides

Malaysian palm oil slides

Malaysian crude palm oil fell 2.1 percent to more than three-week lows on Thursday, pressured by weak crude and slowing shipments, although traders said drought hurting South American soyoil could spur demand. Palm oil, used in products ranging from biscu
Published 30 Jan, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Actionaid to screen 'Voices Unheard' on February 3

Actionaid to screen 'Voices Unheard' on February 3

Actionaid would launch and screen a film titled "Voices unheard- beyond the politics of conflict" on February 3. An official of Actionaid told APP that the film is a story of the people unheard traumatised and largely neglected in the wake of 'war on terr
Published 30 Jan, 2009 12:00am
German-owned tanker hijacked in Gulf of Aden

German-owned tanker hijacked in Gulf of Aden

Somali pirates hijacked a German-owned tanker carrying liquefied petroleum gas on Thursday, the first ship seized in the Gulf of Aden in nearly four weeks. A decline in the rate of successful attacks since foreign navies rushed to the busy sea lane has ra
Published 30 Jan, 2009 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Malaysian tin rallies

Malaysian tin rallies

Malaysian tin ended slightly higher on Thursday, despite sharp losses on the London Metal Exchange, due to lower selling and higher demand, mainly from Japan, one dealer said.
Published 30 Jan, 2009 12:00am
British MP for settling Kashmir dispute

British MP for settling Kashmir dispute

British Member of Parliament Sir Gerald Kaufman has supported Pakistan's stance on Kashmir and admitted that the Kashmir Dispute was of serious nature. In a letter to President Azad Jammu and Kashmir, Raja Zulqarnain Khan, the British MP held out the assu
Published 30 Jan, 2009 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Thursday (January 29, 2009) and for Friday (January 30, 2009).
Published 30 Jan, 2009 12:00am
India issues passenger plane hijack alert

India issues passenger plane hijack alert

The Indian government has warned authorities in western Maharashtra state to step up security against a possible hijack attempt on a civilian aircraft, a government minister said Thursday. State home minister Jayant Patil said he received the federal "adv
Published 30 Jan, 2009 12:00am
Private sector participation in industrial sector growth urged

Private sector participation in industrial sector growth urged

Federal Minister for Industries and Production, Mian Mazoor Ahmed Wattoo has urged the business community to enhance their participation in industrial growth for the development of the sector. He was talking to the delegation of Saarc Chamber of Commerce
Published 30 Jan, 2009 12:00am
Gold slips in New York

Gold slips in New York

Gold settled lower on Wednesday after the US Federal Reserve kept interest rates unchanged and signalled concern about deflation risks, while stock prices surged amid a revival in risk appetite. The 7 percent rise in the SPDR Gold Trust's bullion holdings
Published 30 Jan, 2009 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
NAB Ordinance draft approved

NAB Ordinance draft approved

The inter-ministerial meeting to discuss NAB Ordinance draft was held here at the Ministry of Law and Justice here on Thursday under the chairmanship of Federal Minister Farooq H Naek. After thorough deliberations, the Committee approved the draft NAB Ord
Published 30 Jan, 2009 12:00am
Thousands rally against persecution of Muslims in India

Thousands rally against persecution of Muslims in India

At least two thousand people rallied in New Delhi on Thursday to protest the killing and imprisonment of Muslims, saying innocent members of the community became targets after bomb attacks in India in recent years. Many demonstrators holding banners like
Published 30 Jan, 2009 12:00am
Gold loses ground on Asia

Gold loses ground on Asia

Gold extended losses to trade below $900 an ounce on Thursday, after registering its biggest daily percentage drop in more than two weeks the previous day, as stock markets rallied and the US Fed calmed inflation fears. Bullion was below a three-month hig
Published 30 Jan, 2009 12:00am
IHC puts off hearing in Dr Qadeer case till February 6

IHC puts off hearing in Dr Qadeer case till February 6

The government on Wednesday apprised the Islamabad High Court (IHC) that it would reach out of the court agreement with Dr Abdul Qadeer Khan regarding his alleged illegal detention. The Deputy Attorney General Amjad Iqbal Qureshi requested the single memb
Published 30 Jan, 2009 12:00am
Slowdown brings role reversal for Moldova

Slowdown brings role reversal for Moldova

Moldova, Europe's poorest country, is basking in its new-found status as one of the world's most stable economies, even if it did take a global slump to earn it the accolade. Moldova has been ranked fifth, well ahead of economic powerhouses like Japan and
Published 30 Jan, 2009 12:00am
Oil falls below $42

Oil falls below $42

Oil slid below $42 a barrel on Thursday, as fears over faltering demand in the global economy outweighed US data showing falling gasoline and distillate stocks in the world's top energy consumer. Traders will watch for weekly jobless claims and December d
Published 30 Jan, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Moot on Ghous Baha-ud-Din Zakaria on January 31

Moot on Ghous Baha-ud-Din Zakaria on January 31

The Archaeo-logical and Historical Association of Pakistan in collaboration with International Islamic University will arrange international conference on Hazrat Ghous Baha-ud-Din Zakaria, here on Saturday (tomorrow). It will highlight the services of Haz
Published 30 Jan, 2009 12:00am
UN urges African economies to diversify

UN urges African economies to diversify

Africa must boost food production and diversify its economies into manufacturing and services to cut the impact of future shocks like the current financial crisis, the United Nations said on Thursday. The International Monetary Fund (IMF) warned this week
Published 30 Jan, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Thomson SA likely to breach debt covenants

Thomson SA likely to breach debt covenants

Thomson SA warned it was likely to breach certain debt covenants and needed to bolster its balance sheet, notably by selling more non-core activities, sending its shares down more than 15 percent on Thursday.
Published 30 Jan, 2009 12:00am
SNGPL restores supply to CNG stations, factories

SNGPL restores supply to CNG stations, factories

The gas supply to partially closed compressed natural gas (CNG) stations and industrial units falling in the Islamabad region - Attock to Jhelum - has fully been restored, said an official of the Sui Northern Gas Pipelines Limited (SNGPL) here on Thursday
Published 30 Jan, 2009 12:00am
Obama signs first bill, extends wage discrimination lawsuits

Obama signs first bill, extends wage discrimination lawsuits

Barack Obama signed his first piece of legislation as US president on Thursday, approving a bill that gives workers more time to file complaints for wage discrimination. "This is a wonderful day," Obama said before signing the Lilly Ledbetter Fair Pay Res
Published 30 Jan, 2009 12:00am
Tremendous investment opportunities exist in Pakistan: Soomro

Tremendous investment opportunities exist in Pakistan: Soomro

Chairman Senate, Mohammadmian Soomro on Thursday said Pakistan offers tremendous investment opportunities to foreign businessmen and entrepreneurs as the country has the potential to emerge as a major regional hub of transit trade.
Published 30 Jan, 2009 12:00am
Swatch sales miss forecasts, may rebound

Swatch sales miss forecasts, may rebound

Swatch Group said on Thursday that it still expects 2009 revenue to rise modestly, despite posting weaker-than-expected full-year sales, as demand picks up in the second half. Gross sales at the world's largest watchmaker rose 4.3 percent to 6.0 billion S
Published 30 Jan, 2009 12:00am
Nine injured in landmine blast

Nine injured in landmine blast

At least nine people including three security personnel were injured in a landmine blast here in Ampadagh area on Thursday. According to local police, some of the injured are stated to be employees of Pakistan Petroleum Limited (PPL).
Published 30 Jan, 2009 12:00am
Asian bond spreads narrow on US economic hopes

Asian bond spreads narrow on US economic hopes

Asian bond spreads narrowed on Thursday as the United States moved closer to implementing an $825 billion economic package and adopted more measures to lift the economy and stabilise the financial markets. The US House of Representatives on Wednesday appr
Published 30 Jan, 2009 12:00am
THE RUPEE: dollar loses five paisa

THE RUPEE: dollar loses five paisa

The rupee gave up its overnight weakness against dollar on the interbank market on Thursday, rising five paisa for buying and selling at 78.95 and 79.00, dealers said. Good supply of dollars aided the rupee to recover some ground, but many analysts were o
Published 30 Jan, 2009 12:00am
Swatch sales miss forecasts, may rebound

Swatch sales miss forecasts, may rebound

Swatch Group said on Thursday that it still expects 2009 revenue to rise modestly, despite posting weaker-than-expected full-year sales, as demand picks up in the second half. Gross sales at the world's largest watchmaker rose 4.3 percent to 6.0 billion S
Published 30 Jan, 2009 12:00am
Pacra assigns A+ rating to SCLL

Pacra assigns A+ rating to SCLL

The Pakistan Credit Rating Agency (Pacra) has assigned a long-term rating of "A+" (A Plus) and a short-term rating of "A1" (A One) to Standard Chartered Leasing Limited (SCLL).
Published 30 Jan, 2009 12:00am
THE RUPEE: dollar loses five paisa

THE RUPEE: dollar loses five paisa

The rupee gave up its overnight weakness against dollar on the interbank market on Thursday, rising five paisa for buying and selling at 78.95 and 79.00, dealers said. Good supply of dollars aided the rupee to recover some ground, but many analysts were o
Published 30 Jan, 2009 12:00am
Asian bond spreads narrow on US economic hopes

Asian bond spreads narrow on US economic hopes

Asian bond spreads narrowed on Thursday as the United States moved closer to implementing an $825 billion economic package and adopted more measures to lift the economy and stabilise the financial markets. The US House of Representatives on Wednesday appr
Published 30 Jan, 2009 12:00am
Pacra assigns A+ rating to SCLL

Pacra assigns A+ rating to SCLL

The Pakistan Credit Rating Agency (Pacra) has assigned a long-term rating of "A+" (A Plus) and a short-term rating of "A1" (A One) to Standard Chartered Leasing Limited (SCLL).
Published 30 Jan, 2009 12:00am
Colgate profit tops expectations, outlook muted

Colgate profit tops expectations, outlook muted

Colgate-Palmolive Co posted a better-than-expected quarterly profit, aided by growth in emerging markets and price increases, but indicated that profit this year may fall short of previous expectations. Colgate said on Thursday that it is comfortable with
Published 30 Jan, 2009 12:00am
Three Pakistani microbiologist win international awards

Three Pakistani microbiologist win international awards

Three young Pakistani microbiologists have won international awards in the field of Microbiology. The first position was attained by Miss Shazia Naz of the Marine Fisheries Department, part of the Ministry of Food, Agriculture and Livestock, Karachi, Paki
Published 30 Jan, 2009 12:00am
Indian shares decline

Indian shares decline

Indian shares fell 0.23 percent on Thursday in choppy trade as investors unwound positions at the expiry of the monthly futures contract, dealers said. The benchmark 30-share Sensex index fell 21.19 points to 9,236.28, snapping two straight days of gains.
Published 30 Jan, 2009 12:00am
Colgate profit tops expectations, outlook muted

Colgate profit tops expectations, outlook muted

Colgate-Palmolive Co posted a better-than-expected quarterly profit, aided by growth in emerging markets and price increases, but indicated that profit this year may fall short of previous expectations. Colgate said on Thursday that it is comfortable with
Published 30 Jan, 2009 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Thursday (January 29, 2009).

Published 30 Jan, 2009 12:00am
Thursday's midday trade: economic deterioration stalls four-day rally

Thursday's midday trade: economic deterioration stalls four-day rally

US stocks fell on Thursday, stalling a four-day run-up in the S&P and the Nasdaq, as investors worried about a sharply worsening economy, sending shares of bellwethers, including Boeing, tumbling. Insurer Allstate plunged 21 percent after it posted a $1.1
Published 30 Jan, 2009 12:00am
Iceland holds rates as inflation has peaked: central bank

Iceland holds rates as inflation has peaked: central bank

Iceland kept its key interest rate unchanged at 18 percent on Thursday, saying inflation had peaked at 18.5 percent and would rapidly decline after the country's economic collapse late last year, the central bank said. "Inflation appears to have peaked, a
Published 30 Jan, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Choti yae, which is the second last alphabet of Urdu language, discloses the most important aspect in appointments of ministers and government high ups. How does it do? For this we need to go to the speech of Ijaz Virk a PPP MNA, who had resigned as parli
Published 30 Jan, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices rose 0.4 percent on Thursday, due to interest in select blue chips, plantation and finance stocks which was offset by intermittent profit-taking, dealers said. The Kuala Lumpur Composite Index rose 7.64 points to close at 883.16.
Published 30 Jan, 2009 12:00am
Flextronics profit falls, shares slump

Flextronics profit falls, shares slump

Flextronics International Ltd posted a quarterly profit and gave an outlook that fell short of Wall Street expectations, hurt by poor demand for cell phones and consumer electronics, sending its shares down 12.5 percent after the closing bell.
Published 30 Jan, 2009 12:00am
European credit spreads widen

European credit spreads widen

European credit indexes moved wider on Thursday, putting an end to a two-day rally as a continuous slew of negative news about the slowing global economy added to investor fears. By 1600 GMT, the investment-grade Markit iTraxx Europe index was at 155.75 b
Published 30 Jan, 2009 12:00am
NWFP government probing corruption in local bodies

NWFP government probing corruption in local bodies

Senior Minister in NWFP Cabinet, Bashir Ahmad Bilour on Thursday said that a number of cases relating to corrupt practices in the local bodies system have come to limelight, adding that inquiry into these cases was in progress.
Published 30 Jan, 2009 12:00am
Flextronics profit falls, shares slump

Flextronics profit falls, shares slump

Flextronics International Ltd posted a quarterly profit and gave an outlook that fell short of Wall Street expectations, hurt by poor demand for cell phones and consumer electronics, sending its shares down 12.5 percent after the closing bell.
Published 30 Jan, 2009 12:00am
NWFP government to present Pukhtoonkhwa case in next IPCC meeting

NWFP government to present Pukhtoonkhwa case in next IPCC meeting

Provincial Minister for Information and Inter-Provincial Co-ordination Mian Iftikhar Hussain said on Thursday that the ruling coalition partners in NWFP would effectively plead its case about Pukhtoonkhwa in the next meeting of the Inter-Provincial Co-ord
Published 30 Jan, 2009 12:00am
European credit spreads widen

European credit spreads widen

European credit indexes moved wider on Thursday, putting an end to a two-day rally as a continuous slew of negative news about the slowing global economy added to investor fears. By 1600 GMT, the investment-grade Markit iTraxx Europe index was at 155.75 b
Published 30 Jan, 2009 12:00am
Xstrata plans rights issue to raise $5.9 billion

Xstrata plans rights issue to raise $5.9 billion

Mining group Xstrata Plc plans to raise about $5.9 billion by issuing new shares to pay off some of a heavy debt burden that had worried investors. The prospect of a heavily discounted two-for-one rights issue that will triple the number of shares sent Xs
Published 30 Jan, 2009 12:00am
Three alleged Indian spies arrested

Three alleged Indian spies arrested

Police claimed on Thursday to have arrested three alleged spies working for India's foreign intelligence agency, the Research and Analysis Wing (RAW). Those arrested were identified as Muhammad Fiaz alias Foja, Muhammad Akram alias Mian and Shazad Bhatti,
Published 30 Jan, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 30 Jan, 2009 12:00am
Hong Kong shares up 4.6 percent

Hong Kong shares up 4.6 percent

Hong Kong share prices closed 4.6 percent higher on Thursday, as heavyweight HSBC inspired a post-Lunar New Year holiday buying spree, dealers said. The benchmark Hang Seng Index closed up 575.83 points at 13,154.43 after trading between 13,109.27 and 13,
Published 30 Jan, 2009 12:00am
Long march to continue till restoration of all judges: Kurd

Long march to continue till restoration of all judges: Kurd

Supreme Court Bar Association (SCBA) President Ali Ahmed Kurd on Thursday said that lawyers' long march would continue till restoration of all judges. Kurd was addressing the Lahore Bar Association (LBA) general house meeting before lawyers weekly protest
Published 30 Jan, 2009 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 30 Jan, 2009 12:00am
Xstrata plans rights issue to raise $5.9 billion

Xstrata plans rights issue to raise $5.9 billion

Mining group Xstrata Plc plans to raise about $5.9 billion by issuing new shares to pay off some of a heavy debt burden that had worried investors. The prospect of a heavily discounted two-for-one rights issue that will triple the number of shares sent Xs
Published 30 Jan, 2009 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 30 Jan, 2009 12:00am
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