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Print - 2009-03-21
Bush policy or Obama policy?

Bush policy or Obama policy?

Today, America is viewed as a maverick on warpath. Survey after survey shows a global decline of American popularity among both friends and foes. Even an association with Bush policy cut short political fortunes of many. Former British prime minister Tony
Published 21 Mar, 2009 12:00am
World Water Day on March 22

World Water Day on March 22

March 22 is designated as World Water Day, by the General Assembly in its resolution 47/193 of 22 December 1992. The observance aims at promoting awareness of the extent to which water resource development contributes to economic productivity and social w
Published 21 Mar, 2009 12:00am
THC increase termed violent blow to exports

THC increase termed violent blow to exports

Pakistans exports will suffer another jolt due to sudden and abrupt increase in the Terminal Handling Charges (THC) by shipping companies from April 1,2009. Due to prevailing economic crises and ever-increasing cost of manufacturing, Pakistans exporters a
Published 21 Mar, 2009 12:00am
ICAP files appeal against order of CCP

ICAP files appeal against order of CCP

The Institute of Chartered Accountants of Pakistan (ICAP) had filed an appeal before the Supreme Court of Pakistan against the order of the Appellate bench of Competition Commission of Pakistan (CCP) in respect of ATR 14 relating to minimum fee. The Supre
Published 21 Mar, 2009 12:00am
Unity in business community need of hour: Chawla

Unity in business community need of hour: Chawla

Sultan Ahmed Chawla, President, Federation of Pakistan Chambers of Commerce and Industry (PFCCI) while addressing large number of business community at FPCCI Islamabad Office said unity and solidarity in business community was the need of the hour to stri
Published 21 Mar, 2009 12:00am
FBR urged to withdraw STAD, DRRA audits

FBR urged to withdraw STAD, DRRA audits

The Senior Vice President, Karachi Chamber of Commerce and Industry (KCCI), Jawed Bilwani has urged the Member (Audit), Federal Board of Revenue (FBR), Abrar Ahmed Khan to withdraw Audit by the Sales Tax Audit Department (STAD) and the Directorate of Reve
Published 21 Mar, 2009 12:00am
Power shutdown notice

Power shutdown notice

According to IESCO press release, power supply will remain suspended due to special maintenance work at Murree as per following schedule.
Published 21 Mar, 2009 12:00am
Fair price of oil

Fair price of oil

The 12-nation Organisation of Petroleum Exporting Countries (Opec), which pumps 40 percent of world oil supplies, has been advocating the idea of fair price of oil in the international market for a long time.
Published 21 Mar, 2009 12:00am
A governors ludicrous antics

A governors ludicrous antics

Punjab Governor Salmaan Taseers reaction to PML-Ns demonstrative claim at the Raiwind Farm on Tuesday that it commanded majority in the Punjab Assembly was bombastic, full of zeal that of late had left his assertions. To him it did not matter much if the
Published 21 Mar, 2009 12:00am
Reconciling the Taliban

Reconciling the Taliban

When the foreign minister, Shah Mahmud Qureshi said that the US is reconsidering its policy on Drone attacks, it conveyed an impression of abatement in such attacks, if not altogether a cessation. Contrary to this impression, reports have surfaced in the
Published 21 Mar, 2009 12:00am
The ethics of economics

The ethics of economics

As we look ourselves, I understand the weaknesses that we have individually and collectively. Does Pakistan suffer from resource constraints? I have no reason to believe that it does. Does it suffer from mental aberrations and I have no reason not to beli
Published 21 Mar, 2009 12:00am
Childrens futures: keeping kids - and your money - healthy

Childrens futures: keeping kids - and your money - healthy

Government bonds are generally attractive to the layman investor as they are relatively safe. The saver can profit while not fretting over the markets. An initiative which has been getting off the ground in the past two years is trying to help those inves
Published 21 Mar, 2009 12:00am
Speakers oppose privatisation of Wasa

Speakers oppose privatisation of Wasa

Speakers at the launching ceremony of the report "Water Supply in Lahore: Public Sector Reform not Privatisation" on Friday said that privatisation of Lahore Water and Sanitation Authority (Wasa) is unacceptable. The ceremony was organised by Punjab Urban
Published 21 Mar, 2009 12:00am
Street bank weathers global crisis

Street bank weathers global crisis

Bank manager Sudhir has never heard of credit derivates and has no clue about investment funds. He is just about capable of doing basic arithmetic and calculating interest rates. But while his counterparts in posh Western office towers worry about gaping
Published 21 Mar, 2009 12:00am
Government criticised for energy shortage, load shedding

Government criticised for energy shortage, load shedding

The PML-N Finance Secretary, Mohammad Pervez Malik on Friday strongly criticised the government for load shedding said that the present regime is showing no interest in enhancing the power generation while energy crisis is worsening with every passing day
Published 21 Mar, 2009 12:00am
PASHA signs MoU with BASIS

PASHA signs MoU with BASIS

A Memorandum of Understanding (MoU) has been signed between the Pakistan Software Houses Association (PASHA) and the Bangladesh Software and Information Services (BASIS) in Dhaka. A message received here on Friday said that the document was inked by the P
Published 21 Mar, 2009 12:00am
Wheat procurement policy 2009: Passco convenes two-day conference

Wheat procurement policy 2009: Passco convenes two-day conference

Pakistan Agricultural Storage and Services Corporation (Passco) has convened a two-day conference of its all zonal heads in Lahore on March 24-25 to discuss the wheat procurement policy 2009 and finalise the procurement arrangements.
Published 21 Mar, 2009 12:00am
NGOs role in curbing AIDS highlighted

NGOs role in curbing AIDS highlighted

A seminar on Friday called for disseminating information about HIV and AIDS through Non-Government Organisations (NGOs) as this will yield positive results because of their close liaison with people. The Human Development Society (HDS) arranged the advoca
Published 21 Mar, 2009 12:00am
Iodine deficiency affects mental growth

Iodine deficiency affects mental growth

Iodine deficiency disorder affects mental growth of children and they become dull minded while it creates gynaecological complications, which results in abortion and other problems. The Director General Health, Dr Muhammad Aslam Chaudhry, stated this whil
Published 21 Mar, 2009 12:00am
Arrangements for free pollen allergy relief camp reviewed

Arrangements for free pollen allergy relief camp reviewed

Chief Commissioner, Islamabad Capital Territory (ICT), Kamran Lashari on Friday reviewed the arrangements for the 7th free pollen allergy relief camp to be held at Aapara Community Centre from March 27. A high level meeting held here was informed that dur
Published 21 Mar, 2009 12:00am
US drone attacks unacceptable: Asfandyar

US drone attacks unacceptable: Asfandyar

President Awami National Party (ANP) Asfandyar Wali Khan has said that drone attacks in Balochistan will be a step away from peace and stability rather eliminating the scourge of terrorism from the region. Talking to reporters after meeting with US ambass
Published 21 Mar, 2009 12:00am
KMU announces MBBS exam results

KMU announces MBBS exam results

Khyber Medical University Peshawar has announced MBBS second professional Annual Examinations 2008 results. A total of 575 students appeared in MBBS second professional examinations, of whom 339 were declared successful. The overall result of the exam was
Published 21 Mar, 2009 12:00am
CoD ensures democratic, federal and progressive Pakistan: Rabbani

CoD ensures democratic, federal and progressive Pakistan: Rabbani

Pakistan Peoples Party Deputy Secretary General Raza Rabbani has said that Charter of Democracy (CoD) is a document, which ensures a democratic, Federal and progressive Pakistan. In a statement here on Friday, he said that CoD would ensure the supremacy o
Published 21 Mar, 2009 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 21 Mar, 2009 12:00am
Pakistan discusses drone attacks with German official

Pakistan discusses drone attacks with German official

Pakistan on Friday expressed its concern with German special Representative to Pakistan and Afghanistan Bernd Mutzelburg about the frequent drone attacks on Pakistani territory by the Nato forces and the impression that the drone attacks would be extended
Published 21 Mar, 2009 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous days closes in brackets).

Published 21 Mar, 2009 12:00am
Mild quake hits Swat

Mild quake hits Swat

A 3.6 magnitude earthquake shook district Swat on Friday at 9:35 am. No immediate casualties or damage was reported. According to a private news channel, the epicentre of the quake was in Mingora.
Published 21 Mar, 2009 12:00am
PML-Q urged to serve show-cause notice on forward bloc members

PML-Q urged to serve show-cause notice on forward bloc members

The provincial parliamentary party of Pakistan Muslim League-Q, which met here on Friday, urged the party leadership to immediately serve show-cause notices on forward bloc members so that they could be unseated for violating the party discipline.
Published 21 Mar, 2009 12:00am
The Weather

The Weather

The weather report on Friday (March 20, 2009) and the forecast for Saturday (March 21, 2009).

Published 21 Mar, 2009 12:00am
Smeda launches work on development of horticulture sector

Smeda launches work on development of horticulture sector

Small & Medium Enterprises Development Authority (Smeda) is working on development of Horticulture sector in the region focused on building market linkages among stakeholders. The authority had planned to work in co-ordination with other organisations inv
Published 21 Mar, 2009 12:00am
SHC reserves judgement in appeal in French engineers killing case

SHC reserves judgement in appeal in French engineers killing case

A division bench of High Court of Sindh (SHC) comprising Justice Qaiser Iqbal and Justice Syed Mehmood Alam Rizvi on Friday re-heard an appeal preferred by convicts in Sheraton hotel suicide blast in which eleven French Engineers were killed. The same ben
Published 21 Mar, 2009 12:00am
FBR chairman calls on Prime Minister

FBR chairman calls on Prime Minister

Federal Board of Revenue (FBR) Chairman Ahmed Waqar called on Prime Minister Syed Yousuf Raza Gilani at the PMs House here on Friday. He briefed the Prime Minister about the revenue performance of FBR and the process of tax reforms.
Published 21 Mar, 2009 12:00am
NWFP drafting bill for welfare of destitute, street children

NWFP drafting bill for welfare of destitute, street children

NWFP Minister for Law and Human Rights, Barrister Arshad Abdullah has disclosed that Provincial Government in collaboration with UNICEF besides seriously deliberating over drafting of a bill for the welfare and protection of the destitute and street child
Published 21 Mar, 2009 12:00am
Canvas of Mumbai attacks probe broadened

Canvas of Mumbai attacks probe broadened

Pakistan has broadened the canvas of investigation into the November 26, 2008, Mumbai terrorist attacks after India provided reply to the 30 questions along with "evidences" including DNA, audio tapes, letters, pictures, CDs and footages of Close Circuit
Published 21 Mar, 2009 12:00am
Ghaffar Soomro promoted to BPS-21

Ghaffar Soomro promoted to BPS-21

Abdul Ghaffar Soomro, until recently Director General of Pakistan Standards & Quality Control Authority (PSQCA), has been promoted to BPS-21 and posted as Additional Secretary, Minority Affairs Division, Government of Pakistan. Soomro had a distinguished
Published 21 Mar, 2009 12:00am
Public asked to assist tribunal probing Lahore attack

Public asked to assist tribunal probing Lahore attack

The Lahore High Court (LHC) judge, who is heading the inquiry tribunal to probe into the attack on Sri Lankan team in Lahore, has invited the public at large and especially all concerned to appear and assist the tribunal in investigation and probe into th
Published 21 Mar, 2009 12:00am
Prime Minister condoles death of Mian Zahid

Prime Minister condoles death of Mian Zahid

Prime Minister Syed Yousuf Raza Gilani has expressed grief and sorrow over the sad demise of ex-MPA, Mian Zahid Nawaz Arain on Friday. The Prime Minister prayed to All Mighty Allah to rest the departed soul in eternal peace and grant strength to the famil
Published 21 Mar, 2009 12:00am
MAC organising tableau to mark Pakistan Day

MAC organising tableau to mark Pakistan Day

The management of Mehran Arts Council (MAC) Hyderabad will be holding a tableau on March 24 at its auditorium at 10:00am to mark the Pakistan Day. Students of different schools of Hyderabad and Latifabad would perform and highlight the struggle and sacrif
Published 21 Mar, 2009 12:00am
Resuming his office: SCBA to escort Chief Justice on March 24

Resuming his office: SCBA to escort Chief Justice on March 24

Supreme Court Bar Association (SCBA) on Friday announced to accompany Chief Justice Iftikhar Muhammad Chaudhry from his residence to Supreme Court on March 24 - the day Justice Chaudhry will resume his office. The notification for reinstatement of Justice
Published 21 Mar, 2009 12:00am
World cant stop nuclear progress: Khamenei

World cant stop nuclear progress: Khamenei

Iran has shown world powers they cannot block its nuclear progress, Supreme Leader Ayatollah Ali Khamenei said on Friday, but he made no mention of a new message by US President Barack Obama to his country. In a separate recorded speech to mark the Irania
Published 21 Mar, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Friday after US jobs data underscored the depth of recession in the worlds biggest economy, but strong buying lifted the newly issued bonds by South Korean steel maker POSCO. The number of US workers drawing jobless benefits
Published 21 Mar, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Friday after US jobs data underscored the depth of recession in the worlds biggest economy, but strong buying lifted the newly issued bonds by South Korean steel maker POSCO. The number of US workers drawing jobless benefits
Published 21 Mar, 2009 12:00am
Dollar rebounds in London

Dollar rebounds in London

The dollar rebounded broadly on Friday, but was still set for its biggest weekly percentage drop in almost a quarter of a century as dust settled from the Federal Reserves plans to buy long-term government debt. The euro reversed earlier gains with sentim
Published 21 Mar, 2009 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against a broadly firmer dollar on Friday, but analysts said it could build on this weeks recovery against a US currency weighed down by the US Federal Reserves plan to buy government debt. Sterling has gained over 3 percent against the gree
Published 21 Mar, 2009 12:00am
Dollar costs at 5-1/2 week low in Europe

Dollar costs at 5-1/2 week low in Europe

The bank-to-bank cost of borrowing dollars fell on Friday on renewed confidence measures taken by the worlds major central banks would help ease funding conditions but progress could stall as quarter end looms.
Published 21 Mar, 2009 12:00am
North Korea to reconnect military phone lines to Seoul

North Korea to reconnect military phone lines to Seoul

North Korea has told South Korea it will reconnect cross-border military phone lines that it had switched off in protest at a military exercise, officials said Friday. The lines were used to authorise crossings to and from a joint industrial estate north
Published 21 Mar, 2009 12:00am
Indian rupee posts biggest weekly gain

Indian rupee posts biggest weekly gain

The Indian rupee slipped from a three-week high on Friday, unsettled by a fall in the stock market and hefty dollar demand from corporate, but still managed to post it biggest weekly rise in three months. The partially convertible rupee ended at 50.66/68
Published 21 Mar, 2009 12:00am
Japan gives urgent funds to Cambodia Khmer Rouge tribunal

Japan gives urgent funds to Cambodia Khmer Rouge tribunal

Japan announced an "urgent" 200,000 dollar donation to the UN-backed Khmer Rouge tribunal Friday, allowing it to pay Cambodian staff after donations dried up following corruption claims. A leading judge at the war crimes tribunal said earlier this month t
Published 21 Mar, 2009 12:00am
India buys Israeli spy satellite

India buys Israeli spy satellite

India has bought a spy satellite from Israel with day-and-night viewing capability to boost surveillance capabilities in the aftermath of the Mumbai militant attacks, a report said Friday. The satellite, which can see through clouds and carry out day-and-
Published 21 Mar, 2009 12:00am
Small plane crashes into Ecuador building; seven dead

Small plane crashes into Ecuador building; seven dead

A small army plane slammed into an apartment building in an upscale neighbourhood of Ecuadors mountainous capital on Thursday, killing five people aboard the aircraft and two more on the ground. The plane grazed a house before plowing into the four-story
Published 21 Mar, 2009 12:00am
Two US Navy vessels collide in Strait of Hormuz

Two US Navy vessels collide in Strait of Hormuz

A nuclear-powered US submarine and an amphibious vessel collided in the strategic Strait of Hormuz on Friday slightly injuring 15 sailors and creating a fuel spill, the US Navy said. "The collision between USS Hartford (SSN 768) and USS New Orleans (LPD 1
Published 21 Mar, 2009 12:00am
Australian shares down

Australian shares down

Australian share prices closed down 0.40 percent on Friday, with jitters on Wall Street driving down financial stocks, dealers said. The benchmark S&P/ASX 200 sank 14 points to 3,466.2, while the broader All Ordinaries lost 11.4 points to 3,405.4. Turnove
Published 21 Mar, 2009 12:00am
UK lawmaker barred from Canada over support for Hamas

UK lawmaker barred from Canada over support for Hamas

British lawmaker George Galloway has been blocked from visiting Canada because of his support of Hamas, which is banned here, the Canadian immigration ministers office said Friday. "Im sure Galloway has a large Rolodex of friends in regimes elsewhere in t
Published 21 Mar, 2009 12:00am
Asias woes in spotlight at World Water Forum

Asias woes in spotlight at World Water Forum

Burgeoning population growth, poor resource management and floods and droughts amplified by climate change hamper efforts by Asian countries to provide clean water and decent sanitation, the World Water Forum heard Friday. Ministers from major Asian natio
Published 21 Mar, 2009 12:00am
Former Soviet group pledges Nato help on Afghanistan

Former Soviet group pledges Nato help on Afghanistan

A grouping of former Soviet states that controls a key land route from Europe to Afghanistan has agreed to offer "every kind" of help to Nato forces there, its head said on Friday. The seven members of the Moscow-based Collective Security Treaty Organisat
Published 21 Mar, 2009 12:00am
African Union suspends Madagascar

African Union suspends Madagascar

The African Union suspended Madagascar on Friday, the strongest condemnation by the international community since opposition leader Andry Rajoelina took power with the support of the army. The AU decision followed criticism by southern African bloc SADC,
Published 21 Mar, 2009 12:00am
US suspends aid to Madagascar

US suspends aid to Madagascar

The United States on Friday suspended aid to the Indian Ocean island nation of Madagascar, saying the change of government there this week was unconstitutional. The State Department said the Obama administration would cut all non-humanitarian assistance t
Published 21 Mar, 2009 12:00am
Indira grandson avoids arrest over Muslim hate speech

Indira grandson avoids arrest over Muslim hate speech

An Indian court on Friday granted -be Hindu nationalist MP to post bail of 50,000 rupees (1,000 dollars), the Press Trust of India news agency reported. Varun has been at the centre of a political storm after allegedly telling supporters at a series of ra
Published 21 Mar, 2009 12:00am
Jordan and Syria urge Israels pullout from all Arab lands

Jordan and Syria urge Israels pullout from all Arab lands

Leaders of Jordan and Syria on Friday cited Israels evacuation of all Arab territories it occupied in the 1967 Six-Day war and the establishment of an independent Palestinian state as prerequisites for lasting peace in the region. The call came in a joint
Published 21 Mar, 2009 12:00am
Irish workers renew protest on jobs and budget cuts

Irish workers renew protest on jobs and budget cuts

Irish taxi drivers and airport workers protested on Friday over job prospects and bus drivers threatened to strike, showing rising discontent over Irelands deepening economic woes. Cabinet ministers have warned of increasing anger in the financial crisis
Published 21 Mar, 2009 12:00am
Asian currencies head for steep weekly gains

Asian currencies head for steep weekly gains

Asian currencies rose on Friday as the dollar tumbled across the board on concerns over its outlook after the Federal Reserve announced this week it would to buy US government debt to help spur the ailing economy. The South Korean won, Thai baht, Singapor
Published 21 Mar, 2009 12:00am
Australian dollar holds ground versus dollar

Australian dollar holds ground versus dollar

The Australian dollar gained for a ninth straight session on Friday to near a 10-week peak on Friday as the Federal Reserves radical policies undermined confidence in the worlds reserve currency. The Aussie held ground at $0.6875, off a peak of $0.6943 st
Published 21 Mar, 2009 12:00am
London cocoa, sugar and coffee consolidate

London cocoa, sugar and coffee consolidate

Cocoa, sugar and coffee futures consolidated in modest volumes on Friday after Thursdays across-the-board rally, with a stronger dollar and weaker oil prices keeping a lid on upside potential. Cocoa dealers talked of profit-taking after the rally and said
Published 21 Mar, 2009 12:00am
Protecting watersheds can save billions

Protecting watersheds can save billions

Protecting watershed and water resources can provide many of the worlds mega cities with fresh water and save billions of dollars, noted a recent case study by International Union for Conservation of Nature (IUCN). Published ahead of the World Water Forum
Published 21 Mar, 2009 12:00am
Pakistan Day being celebrated in Malaysia

Pakistan Day being celebrated in Malaysia

Pakistani community in Malaysia is all set to celebrate the 69th anniversary of the Pakistan Day with full fervour. The High Commission for Pakistan in Malaysia has planned to celebrate the event in a most befitting manner. The flag hoisting ceremony will
Published 21 Mar, 2009 12:00am
US MIDDAY: gold retreats

US MIDDAY: gold retreats

US gold futures dropped slightly in choppy trade Friday on preweekend profit taking following a sharp rally, but strong investment flows into gold exchange-traded funds should put a floor under prices. Gold for April delivery was down 70 cents at $958.10
Published 21 Mar, 2009 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

Chicago Board of Trade soyabean futures rose early Friday on uncertainty over the export status of Argentina which could lead to more US export sales, traders said. May soyabeans were up 7 cents at $9.47-1/2 a bushel by 9:31 am CDT.
Published 21 Mar, 2009 12:00am
US MIDDAY: copper surges

US MIDDAY: copper surges

US copper futures rose early to a 4-1/2-month peak as a rebound in the dollar and a huge jump in London stockpiles produced a pause in the rally, traders said. Copper for May delivery was up 0.85 cent at $1.8160 a lb by 10:22 am EDT (1422 GMT) on the New
Published 21 Mar, 2009 12:00am
US MIDDAY: sugar softens

US MIDDAY: sugar softens

Raw sugar futures on ICE Futures US at 1155 GMT. May raw sugar contract eased 0.02 cent to 13.60 cents per lb. Dealing from 13.52 to 13.62 cents. Volume at 3,958 lots. Light profit-taking and consolidation after rally in previous session which hoisted sug
Published 21 Mar, 2009 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

CBOT May wheat futures fell 10-1/2 cents to $5.44-3/4 per bushel Friday on forecasts for rain in the US Plains HRW wheat region and on profit-taking, traders said. At 10:30 am CDT (1530 GMT), CBOT May wheat was down 10-1/4 at $5.45 and KCBT May was down 1
Published 21 Mar, 2009 12:00am
Gold dips in London

Gold dips in London

Gold edged down on Friday as the dollar rebounded against the euro, prompting profit taking in the precious metal after its rally to a three-week high earlier in the session. But prices are firmly underpinned by interest in the metal as a haven from infla
Published 21 Mar, 2009 12:00am
US MIDDAY: cocoa and coffee up

US MIDDAY: cocoa and coffee up

US cocoa and arabica coffee futures took a breather on Friday following the previous sessions broad-based commodities rally, and technical strength could boost prices higher in spite of overbought market conditions, traders said. Arabica coffee for May de
Published 21 Mar, 2009 12:00am
Dollar tumbles

Dollar tumbles

The dollar fell sharply for a second straight session on Thursday and the euro soared above $1.37 as investors feared the Federal Reserves government bond purchases would end up debasing the worlds reserve currency. The Fed said on Wednesday it will purch
Published 21 Mar, 2009 12:00am
World oil slips

World oil slips

Oil fell on Friday, dragged down by economic concerns, the stronger dollar and a dip in the stock market. US crude for April, which expires on Friday, settled down 55 cents at $51.06 a barrel. May crude edged up 3 cents to settle at $52.07 a barrel. Londo
Published 21 Mar, 2009 12:00am
Copper declines

Copper declines

Copper fell 1 percent in choppy trade on Friday, losing grip of a 4-1/2 month high above $4,000 as a leap in inventories kept questions over the extent of demand alive. Aluminium and zinc hit their highest in more than two months, before tracking copper l
Published 21 Mar, 2009 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

Cotton futures finished higher on Friday on follow-through investment fund buying, and the momentum from its advance should spill over into next week, brokers said. The key May cotton contract rose 1.21 cents to end at 44.08 cents per lb, trading from 42.
Published 21 Mar, 2009 12:00am
FTSE moves higher

FTSE moves higher

Britains top share index closed 0.7 percent higher on Friday, as gains in commodity stocks and life insurers outweighed heavy falls in volatile banks. The FTSE 100 gained 25.92 points to 3,842.85, having closed up 0.3 percent on Thursday. The index gained
Published 21 Mar, 2009 12:00am
Index rollover tightens CDS spreads

Index rollover tightens CDS spreads

European credit spreads tightened markedly on Friday, as a result of a bi-annual rollover of the credit derivative indexes. The indexes had been expected to tighten after the roll-over took effect, as some companies with wide spreads were removed from the
Published 21 Mar, 2009 12:00am
China stock index rises

China stock index rises

Chinas main stock index rose for a fifth straight day in heavy trade on Friday, led by non-ferrous metal producers and oil firms after a jump by global crude oil futures. The Shanghai Composite Index was lower at noon but ended the day up 0.68 percent at
Published 21 Mar, 2009 12:00am
Indian shares slip

Indian shares slip

Indian shares fell 0.39 percent on Friday, but recovered from the days low on overseas fund buying and hopes that Indias central bank may lower rates as inflation heads toward zero, dealers said. The benchmark 30-share Sensex index fell 35.07 points to 8,
Published 21 Mar, 2009 12:00am
Index rollover tightens CDS spreads

Index rollover tightens CDS spreads

European credit spreads tightened markedly on Friday, as a result of a bi-annual rollover of the credit derivative indexes. The indexes had been expected to tighten after the roll-over took effect, as some companies with wide spreads were removed from the
Published 21 Mar, 2009 12:00am
Fridays early afternoon trade: Wall Street slides as banks fall

Fridays early afternoon trade: Wall Street slides as banks fall

US stocks fell on Friday, as long-standing worries about the health of the banking system resurfaced and a brokerage said American Express may post yearly losses and cut its dividend. General Electric also weighed down the market, as brokers lowered their
Published 21 Mar, 2009 12:00am
Chinas feed output grew in 2008 despite melamine scandal

Chinas feed output grew in 2008 despite melamine scandal

Chinas animal feed output jumped 10 percent last year - the fastest pace on record - to 137 million tonnes despite scandals involving melamine contamination of feed, a Ministry of Agriculture official said on Friday. Wang Xiaohong, a division chief with t
Published 21 Mar, 2009 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 21 Mar, 2009 12:00am
EDB likely to be converted into EDA

EDB likely to be converted into EDA

The Engineering Development Board (EDB) is likely to be converted into Engineering Development Authority (EDA), according to reliable sources here. The conversion would provide legal status, institutional autonomy, and independence to hire professionals o
Published 21 Mar, 2009 12:00am
EDB likely to be converted into EDA

EDB likely to be converted into EDA

The Engineering Development Board (EDB) is likely to be converted into Engineering Development Authority (EDA), according to reliable sources here. The conversion would provide legal status, institutional autonomy, and independence to hire professionals o
Published 21 Mar, 2009 12:00am
New York cotton

New York cotton

Thursdays closing prices of New York cotton in US cents/lb.

Published 21 Mar, 2009 12:00am
3,504 megawatts more power to be added to national grid by December

3,504 megawatts more power to be added to national grid by December

In view of the commitment made by the Federal government to end load shedding by the end of this year, 3504 MW of additional generating capacity will be added to the national grid by December. Dilating upon the multi-pronged strategy, the spokesman of Pak
Published 21 Mar, 2009 12:00am
New York cotton

New York cotton

Thursdays closing prices of New York cotton in US cents/lb.

Published 21 Mar, 2009 12:00am
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