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Print - 2009-04-11
Workers reject railways sell off plan

Workers reject railways sell off plan

The employees of Pakistan Railways (PR) have strongly rejected the federal governments plan to privatise the only poor-friendly means of transportation. According to PR employees in Karachi City Station the willingness of federal government to privatise t
Published 11 Apr, 2009 12:00am
Pakistan decorated as best contributor to leather sector

Pakistan decorated as best contributor to leather sector

The Asia Pacific Leather Fair (APLF) during its 25th anniversary that was participated by the exhibitors from all over the world, decorated Pakistan with an award of the best contributor to the leather sector at global level. The APLF Chief Executive Offi
Published 11 Apr, 2009 12:00am
Motorway police asked to behave with violators graciously

Motorway police asked to behave with violators graciously

Dr Wasim Kauser, Inspector General, National Highways and Motorway Police has directed the Patrolling officers of Motorway police to present highly sophisticated behaviour and graciousness with the violators and execute their duties with keenness and alle
Published 11 Apr, 2009 12:00am
NH&MP recover two stolen cars, five held

NH&MP recover two stolen cars, five held

National Highways & Motorway Police (NH&MP) has recovered two stolen vehicles and arrested five car-lifters by taking prompt action. According to a spokesman, Motorway Police following an information that a Suzuki Mehran Car No LOR-8656 has been stolen fr
Published 11 Apr, 2009 12:00am
Prime Minister to inaugurate Multan Airport expansion project today

Prime Minister to inaugurate Multan Airport expansion project today

Prime Minister Syed Yousaf Raza Gilani will arrive here today (April 11) on one day visit of Multan. He will attend an inaugural ceremony of project of Multan Airport expansion & upgradation, groundbreaking ceremony of Multan-Faisalabad Motorway and Aimen
Published 11 Apr, 2009 12:00am
Punjab University to organise books fair from April 23

Punjab University to organise books fair from April 23

Punjab University administration has decided to organise books fair 2009 from April 23-25 this year. The decision was taken in a meeting held here in the Vice- Chancellors Office Committee room on Friday. Vice-Chancellor Professor Dr Mujahid Kamran chaire
Published 11 Apr, 2009 12:00am
Chinese delegation calls on Zardari

Chinese delegation calls on Zardari

A Chinese delegation headed by Vice President of China Shipbuilding Industry Corporation (CSIC) Ke Ying and Chinese Ambassador H E Luo Zhaohui called on President Asif Ali Zardari at Aiwan-e-Sadr on Friday. Shao Kiawen, Vice General Manager CSIC, briefed
Published 11 Apr, 2009 12:00am
UK University, UVAS to join hands for leather sectors development

UK University, UVAS to join hands for leather sectors development

The University of Northampton, UK and University of Veterinary and Animal Sciences Lahore agreed to sign a memorandum of understanding (MoU) for collaboration to launch joint academic and training courses for the development of leather sector of Pakistan.
Published 11 Apr, 2009 12:00am
Etihad offers upgrade facility to frequent flyers

Etihad offers upgrade facility to frequent flyers

Etihad Airways, the national airline of the United Arab Emirates, is offering its most frequent customers the opportunity to upgrade their seats at the airport before they fly. With the introduction of instant upgrades, passengers have the opportunity to
Published 11 Apr, 2009 12:00am
Karachiites continue to brave 10-hour power outages

Karachiites continue to brave 10-hour power outages

Karachiites continue to brave at least 10-hour power outages in most of the city areas as two units of Bin Qasim Thermal Power Plant (BQTPP) of Karachi Electric Supply Company (KESC) remained out of commission on Friday. The closure of unit 4 of BQTPP add
Published 11 Apr, 2009 12:00am
Pakistan needs $110 billion private investment for infrastructure uplift

Pakistan needs $110 billion private investment for infrastructure uplift

Pakistan is in need of substantial private sector investment requiring approximately $110 billion over next five years to cater the infrastructure needs of growing population. This was stated by Ghulam Murtaza Satti, advisor on Public Private Partnership
Published 11 Apr, 2009 12:00am
Present assemblies will complete tenure: Rana

Present assemblies will complete tenure: Rana

Acting Speaker of the Punjab Assembly Rana Mushood here on Friday said that democracy would prevail in the country and assemblies would live-out their full parliamentary term of which one-year has elapsed from April 9,2008 to April 9,2009.
Published 11 Apr, 2009 12:00am
Samsung brings high-definition LED television

Samsung brings high-definition LED television

Samsung Electr-onics Co Ltd, worlds No 1 manufacturer of semiconductors, mobile handsets and LCD monitors has launched its new series of high-definition LED Televisions which marks a transformative moment in the TV industry, which represents the current p
Published 11 Apr, 2009 12:00am
The Cabinet decisions

The Cabinet decisions

Minister for Information Qamar Zaman Kaira in a press conference revealed the decisions taken with respect to the 32-point agenda of the federal cabinet meeting. Most notable amongst the decisions taken was the approval of the Iran-Pakistan-India (IPI) ga
Published 11 Apr, 2009 12:00am
Killing of Baloch leaders

Killing of Baloch leaders

The long-waged insurgency in Balochistan for greater share of natural resources and more autonomy goes through sporadic eruptions, often disregarded by Islamabad as tribal warfare or treated as uprisings in a far-off satrapy to be quelled by force. So, si
Published 11 Apr, 2009 12:00am
Poverty census: unpleasant facts

Poverty census: unpleasant facts

Deputy Chairman of the Planning Commission Sardar Assef Ahmad Ali has said the government has started a poverty census to ensure benefits of the Rs 34 billion Benazir Income Support Programme (BISP) go to the target groups. He told an interviewer that the
Published 11 Apr, 2009 12:00am
How can the fear mind become a positive mind?

How can the fear mind become a positive mind?

Much had gone wrong by the bureaucracy during the period and working of the last government. One had seen it at close quarters and the bullyboys of the government used to meet for what came to be called a zero cabinet meeting.
Published 11 Apr, 2009 12:00am
US kids feel grown-up stress in slumping economy

US kids feel grown-up stress in slumping economy

Demetri Wolfe-Maris is a proud young man who has just landed a job in the midst of the grimmest economy in three generations -- and hes only 10-years-old. "Hes been working for a neighbour of ours, counting coins. He makes five dollars an hour and feels p
Published 11 Apr, 2009 12:00am
Japan taps jobless autoworkers for aged care jobs

Japan taps jobless autoworkers for aged care jobs

Changing an elderly persons incontinence pants was one of the first challenges facing former air conditioning technician Naoya Kadohara when he switched to a job caring for elderly people several years ago. "At first it was very difficult. I didnt underst
Published 11 Apr, 2009 12:00am
SBP report, an eye opener for all

SBP report, an eye opener for all

The SBP second quarterly review report is an eye opener for many reasons, first, being the cutting down of growth rate from 3.5 to 2.5 percent and the second being the dependence on foreign assistance. This is enough to make the point that economic indica
Published 11 Apr, 2009 12:00am
Parkinsons disease cases to double by 2030

Parkinsons disease cases to double by 2030

The number of people in the world with Parkinsons disease will double by 2030, according to Consultant Neurologist, Aga Khan University Hospital (AKUH) Dr Sarwar Siddiqui. He said here on Friday that though the cause of the disease is still not known, rem
Published 11 Apr, 2009 12:00am
Five-day Safety Management course concludes

Five-day Safety Management course concludes

The five-day Safety Management course held at Benazir Bhutto International Airport for aviation officers and men concluded here on Friday. The course was organised by Civil Aviation Authority Benazir Bhutto International Airport in collaboration with the
Published 11 Apr, 2009 12:00am
Plan underway to air-link Mirpur with the world

Plan underway to air-link Mirpur with the world

AJK government is seriously contemplating to air-link Azad Jammu and Kashmirs fast expanding model city of Mirpur with rest of the world through the establishment of an international airport in order to provide direct air-travelling facilities to the peop
Published 11 Apr, 2009 12:00am
Public help sought to ensure security

Public help sought to ensure security

Regional Police Officer (RPO) Chaudhry Abdul Majeed said that the Police have been put on high alert to tackle any possible act of terrorism, however, the civil society should extend all out co-operation to make these security arrangements a success. He w
Published 11 Apr, 2009 12:00am
Advancing clocks will do more harm than good

Advancing clocks will do more harm than good

Decision to advance clocks by one-hour from 15th April would do more harm than good, so the existing time schedule ought to be allowed to continue, All Pakistan Textile Processing Mills Association, Vice Chairman Shabbir Ahmed stated this while talking to
Published 11 Apr, 2009 12:00am
White House asks Congress to approve $1.8 billion aid for Pakistan

White House asks Congress to approve $1.8 billion aid for Pakistan

The White House has asked Congress to approve $1.8 billion to bolster Pakistans economic development and counter insurgency capability as well as support the US diplomatic operations in the key South Asian country. The amount is part of an $83.4 billion s
Published 11 Apr, 2009 12:00am
Timely completion of development projects stressed

Timely completion of development projects stressed

The AJK government has directed the heads of departments to ensure timely completion of development projects of public welfare, official sources said. The sources told APP here on Friday the government had also directed for early resolution problems being
Published 11 Apr, 2009 12:00am
Tabani calls for enhancing Pak-Russia trade ties

Tabani calls for enhancing Pak-Russia trade ties

There exists a lot of scope for enhancing trade ties between Pakistan and the Russian Federation. Pakistan-Russia Business Forums President Abdul Rauf Tabani pointed this out, while speaking at the dinner he had hosted for the visiting parliamentary deleg
Published 11 Apr, 2009 12:00am
Farmers asked to avoid growing rice in prohibited areas

Farmers asked to avoid growing rice in prohibited areas

Sindh irrigation department has advised the growers to desist from sowing rice crop in areas declared prohibited by Board of Revenue and that come under the command of three perennial Ghotki feeder, Rohri and Nara canals.
Published 11 Apr, 2009 12:00am
Suleman Jameels wife expires

Suleman Jameels wife expires

Wife of Suleman Zahid Jameel (Chartered Accountant) and mother of Ahmed Suleman, Ehtisham Suleman and Mujtiba Suleman expired here on Friday after protracted illness. Her funeral prayer was offered in D Ground, Peoples Colony on Friday evening which was a
Published 11 Apr, 2009 12:00am
FPCCI body demands duty drawback payment against exports

FPCCI body demands duty drawback payment against exports

Exports Committee Chairman of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Azhar Majeed Sheikh has demanded duty drawback payment against exports, stuck up at Care System Model Collectorate for the years 2007 and 2008.
Published 11 Apr, 2009 12:00am
Education Policy: academic audit process now a regular feature

Education Policy: academic audit process now a regular feature

The federal government has announced the National Education Policy which reiterates to institutionalise national and provincial NEAS network at all levels for auditing of education performance, it is officially stated here on Friday. The new policy would
Published 11 Apr, 2009 12:00am
67 percent people laud one dish restriction at weddings: survey

67 percent people laud one dish restriction at weddings: survey

A recent poll conducted by Gallup Pakistan showed that the decision of Punjab government to restrict weddings dinners to one-dish events is welcomed by two-third Pakistanis. "Sixty-seven percent are in the favour of limiting wedding feasts to one-dish onl
Published 11 Apr, 2009 12:00am
LHC bench formulates guidelines for special courts

LHC bench formulates guidelines for special courts

A full bench of the Lahore High Court (LHC) formulating guidelines for the special courts (Control of Narcotic Substances) for awarding conviction to the culprits involved in sale and smuggling of narcotic substances held that woman and a child, because o
Published 11 Apr, 2009 12:00am
Markets closed

Markets closed

The financial, stock and commodity markets of US, UK, many in Asia and in Europe were closed due to Good Friday and will remained closed on Monday April 12 for Easter holiday. Normal trading will resume from Tuesday. Some markets will resume trading from
Published 11 Apr, 2009 12:00am
Unauthorised housing schemes: CDA warns citizens against investment

Unauthorised housing schemes: CDA warns citizens against investment

Capital Development Authority (CDA) has warned the citizens against buying plots from unauthorised private housing societies in zone II, V and E-11 of the capital. Talking to APP here on Friday, Deputy Director General Planning Wing -II Ghulam Sarwar Sind
Published 11 Apr, 2009 12:00am
CEE currencies mixed, region to face policy hurdles

CEE currencies mixed, region to face policy hurdles

Emerging Europes currencies were mixed on Friday, in illiquid trade ahead of a long weekend which precedes a month of tough policy decisions, as pointed by inflation data earlier in the day. Hungarys forint bounced back on the weaker side of a key technic
Published 11 Apr, 2009 12:00am
Italy holds state funeral as quake toll hits 289

Italy holds state funeral as quake toll hits 289

Italy held a state funeral on Friday for victims of its worst earthquake in three decades, as the death toll climbed to 289 and survivors voiced anger that houses simply collapsed. Thousands of mourners prayed before 205 coffins covered by flowers and pho
Published 11 Apr, 2009 12:00am
Bangladesh deports Sudanese charity chief

Bangladesh deports Sudanese charity chief

Bangladeshi authorities have deported a Sudanese national because police believe he was using an Islamic charity as a cover to train militants, an intelligence officer said Friday. Sudanese national Abbas Bao, who heads the local branch of Kuwait-based ch
Published 11 Apr, 2009 12:00am
Japan extends North Korea sanctions, UN split

Japan extends North Korea sanctions, UN split

Japan on Friday extended economic sanctions on North Korea by a year to punish it for what was widely seen as a long-range missile test, but softened its drive for a United Nations resolution to chastise Pyongyang. North Korea is likely to escape any seri
Published 11 Apr, 2009 12:00am
Christians mark Good Friday in Jerusalem

Christians mark Good Friday in Jerusalem

Thousands of Christian clergymen, worshippers and pilgrims thronged the alleyways of Jerusalems Old City, chanting hymns and bearing crosses as they marked Good Friday by retracing Jesus final footsteps. Hundreds attended prayers Friday morning at Jerusal
Published 11 Apr, 2009 12:00am
Suicide bomber kills five US troops in Mosul

Suicide bomber kills five US troops in Mosul

Five US troops were killed on Friday in the deadliest attack on American forces in Iraq for more than a year when a suicide truck bomber struck a police compound in the restive city of Mosul. Two Iraqi police and an Iraqi soldier also perished in the blas
Published 11 Apr, 2009 12:00am
Student shoots three in Greek college, kills himself

Student shoots three in Greek college, kills himself

A teenage student armed with two handguns, dozens of bullets and a knife opened fire in a vocational training college in Athens Friday, wounding three people before shooting himself in the head, Greek authorities said. The 19-year-old gunman died of his i
Published 11 Apr, 2009 12:00am
Pirates take German ship to help comrades off Somalia

Pirates take German ship to help comrades off Somalia

Somali pirates holding an American hostage on a drifting lifeboat hauled him back when he jumped overboard to escape and vowed on Friday to fight any attack by US naval forces stalking them at sea. Meanwhile, pirates holding a foreign crew on a hijacked G
Published 11 Apr, 2009 12:00am
Baghdad car bomb kills nine

Baghdad car bomb kills nine

A car bomb killed nine people and wounded 20 in the Shia Kadhimiya district of north-west Baghdad on Tuesday, police said, a day after seven car bombs killed 37 people across the Iraqi capital. The latest attack struck an area where one of Shia Islams hol
Published 11 Apr, 2009 12:00am
Russia signs first Israeli drone deal

Russia signs first Israeli drone deal

Russia said on Friday it had signed a contract to buy drones from Israel, in the first such deal analysts said was aimed at strengthening the armed forces after last years brief war with Georgia. "We signed a contract with an Israeli firm for the delivery
Published 11 Apr, 2009 12:00am
Indian fireworks blaze kills 23

Indian fireworks blaze kills 23

Twenty-three people were killed and nearly 50 others were injured in a blaze at a fireworks factory in western India, the emergency services said Friday. Police said the fire broke out on Friday afternoon at the Savitri Fireworks Factory in Parola, west o
Published 11 Apr, 2009 12:00am
France unmoved by Obama nuclear speech: leaked memo

France unmoved by Obama nuclear speech: leaked memo

France said Friday it had begun to reduce its own arsenal long before US President Barack Obama called for a "world without nuclear weapons", as a leaked memo showed Paris unimpressed by his speech. According to the daily Le Figaro, President Nicolas Sark
Published 11 Apr, 2009 12:00am
Civilian casualties skyrocket in Sri Lanka: rights body

Civilian casualties skyrocket in Sri Lanka: rights body

Civilian casualties are skyrocketing in Sri Lankas north-east as government forces push through with their final assault against Tamil rebels, Human Rights Watch said on Friday in a statement. The New York-based watchdog urged the government to stop firin
Published 11 Apr, 2009 12:00am
Bouteflika wins third term as Algerian president

Bouteflika wins third term as Algerian president

Algerian President Abdelaziz Bouteflika won 90.24 percent of the vote in a presidential election, officials said on Friday, extending his hold over Algeria, an oil producer with a lingering Islamist insurgency. An opposition party, which had called for a
Published 11 Apr, 2009 12:00am
Fiji repeals constitution, sets election deadline

Fiji repeals constitution, sets election deadline

Fiji President Ratu Josefa Iloilo repealed the countrys constitution on Friday, appointed himself head of state and set a 2014 election deadline. He said he had also sacked all the judges and established a "new legal order" following Thursdays Court of Ap
Published 11 Apr, 2009 12:00am
Workshop making rocket warheads raided in Egypt, one held

Workshop making rocket warheads raided in Egypt, one held

Egyptian security forces raided a workshop in the Sinai peninsula they said was used to make rocket warheads, a security official said on Friday. Police found three rudimentary warheads and arrested a man during the raid in the North Sinai town of Sheikh
Published 11 Apr, 2009 12:00am
Afghan battles kill six policemen, 32 rebels

Afghan battles kill six policemen, 32 rebels

Taliban attackers killed six policemen in southern Afghanistan Friday, the government said, as the US military reported ground battles and air strikes left 32 militants dead. Afghanistans vast south is the main battlefield between Taliban insurgents oppos
Published 11 Apr, 2009 12:00am
Indias richest candidate worth $103 million

Indias richest candidate worth $103 million

A Mumbai-based businessman is the richest candidate in Indias general elections so far with declared net assets worth 103 million dollars, news reports said Friday. Politicians in India have to declare their assets in a legal document when filing papers f
Published 11 Apr, 2009 12:00am
Japans emperor, empress mark 50th wedding anniversary

Japans emperor, empress mark 50th wedding anniversary

Japans Emperor Akihito and Empress Michiko celebrated their 50th wedding anniversary Friday as the media hailed ways in which they have adapted the worlds oldest monarchy to modern times. In the half century since they married, Japan has emerged from the
Published 11 Apr, 2009 12:00am
Intikhab plans to spin Australia

Intikhab plans to spin Australia

Pakistan coach Intikhab Alam took heart on Friday from Australias vulnerability on spin, saying his slow bowlers could emulate South Africas success over the world champions. Australia were undone by spinners in the third one-day international at Cape Tow
Published 11 Apr, 2009 12:00am
Indian woman aims for chilli record

Indian woman aims for chilli record

An Indian woman is hoping to enter the record books as the worlds "hottest" woman after munching 51 fiery chillies in two minutes, organisers of the feat said Friday. Anandita Dutta Tamuly, 26, chewed her way through the chillies before an audience late T
Published 11 Apr, 2009 12:00am
Inzamam slams Pakistan U-turn on ICL players

Inzamam slams Pakistan U-turn on ICL players

Former captain Inzamam-ul-Haq Friday lashed out at Pakistan for making a U-turn on selecting cricketers from an unrecognised Indian league and succumbing to "pressure." Pakistan selectors Monday named three rebel Indian Cricket League (ICL) players - Abdu
Published 11 Apr, 2009 12:00am
Double boost for Afghanistan ahead of crucial clash

Double boost for Afghanistan ahead of crucial clash

Minnows Afghanistan received a twin boost ahead of a make-or-break 2011 Cricket World Cup Qualifier Super 8 clash against mighty Ireland in South Africa Saturday. Star batsman-cum-wicketkeeper Karim Sadiq is available after serving a one-match suspension
Published 11 Apr, 2009 12:00am
Indias home minister blames IPL shift on organisers

Indias home minister blames IPL shift on organisers

Crickets Indian Premier League could have taken place in India if organisers had listened to suggestions and not put pressure on the government, a senior minister said on Friday. The glitzy Twenty20 event, which opens in South Africa on April 18, was shif
Published 11 Apr, 2009 12:00am
South Africa take series lead

South Africa take series lead

Jacques Kallis and AB de Villiers shared a century partnership to set up a comfortable 25-run win for South Africa in the third one-day international against Australia at Newlands on Thursday. Kallis (70) and De Villiers (80) laid the foundation for a Sou
Published 11 Apr, 2009 12:00am
Red Star players say they have no money for food or rent

Red Star players say they have no money for food or rent

Red Star Belgrade players are struggling to pay for food and rent because of the financial crisis at the former European Cup winners, midfielder Mirnes Sisic said. The Slovenian, who joined Red Star during the mid-season break in January, said he faced ev
Published 11 Apr, 2009 12:00am
Aussie footballers fined for chicken sex video

Aussie footballers fined for chicken sex video

Two Australian football players have been fined over an amateur video depicting a condom-clad rubber chicken performing sex acts on a chicken carcass, their club said. North Melbournes Adam Simpson and Daniel Pratt were each fined five thousand dollars (3
Published 11 Apr, 2009 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar rose against the US currency on Thursday as global equity markets surged on optimism about the US banking sector, whetting appetite for risk in the foreign exchange market. An upbeat earnings estimate from Wells Fargo, the fourth-large
Published 11 Apr, 2009 12:00am
Mexico peso surges

Mexico peso surges

Mexicos peso on Thursday surged for a third straight session in international trade, boosted by optimistic outlooks for the US banking sector and Japans surprisingly large stimulus package. The peso firmed as much as 1.6 percent to 13.17 per dollar in low
Published 11 Apr, 2009 12:00am
Won falls against dollar

Won falls against dollar

The won turned lower against the dollar on Friday, pressured by dollar demand from importers for settlements and linked to South Korean companies dividend payments to foreign stakeholders. But the currency posted a fifth week of gains, hitting a three-mon
Published 11 Apr, 2009 12:00am
Dollar up versus yen

Dollar up versus yen

The dollar climbed against the yen on Thursday as positive earnings news from Wells Fargo and better-than-expected US data helped spark a rally in stocks, rekindling appetite for riskier assets. Wells Fargo delivered an upbeat earnings outlook, saying it
Published 11 Apr, 2009 12:00am
Euro slides in holiday trade

Euro slides in holiday trade

The euro slipped to its lowest in almost a month against the dollar on Friday, dented by holiday trade and views that the European Central Bank may be edging closer to unconventional easing, while the greenback lost early buoyancy against the yen.
Published 11 Apr, 2009 12:00am
Yuan up versus dollar

Yuan up versus dollar

The yuan ended slightly higher against the dollar on Friday as China posted a bigger than expected trade surplus, but dealers said it should have little room to rise further and its effective peg to the dollar, in place since mid-December, would remain in
Published 11 Apr, 2009 12:00am
Taiwan dollar down

Taiwan dollar down

The Taiwan dollar weakened on Friday as the central bank bought US dollars, prompting many dealers to follow suit, though trade was thin due to the Easter break in some Asian economies. The Taiwan dollar ended weaker at T$33.795 to the US dollar from the
Published 11 Apr, 2009 12:00am
Nikkei rises

Nikkei rises

Japans Nikkei average rose 0.5 percent in active trade on Friday to its second three-month closing high in as many days, though banks tumbled as worries about their shareholding losses reignited. After days of see-saw trade, the benchmark ultimately marke
Published 11 Apr, 2009 12:00am
New Zealand dollar lower

New Zealand dollar lower

The New Zealand dollar extended its retreat, weighed down as weaker stock markets saw investors turn more risk averse. The kiwi retreated to levels of a week ago as the enthusiasm for higher-yielding currencies such as the kiwi, which had seen it hit a th
Published 11 Apr, 2009 12:00am
Kenyan shilling gains

Kenyan shilling gains

Kenyas shilling firmed marginally against the dollar on Thursday aided by position squaring by banks that were holding long dollar positions during the week. The leading commercial banks posted the unit at 79.95/80.05 against the greenback compared with W
Published 11 Apr, 2009 12:00am
Seoul shares post fifth straight gaining week

Seoul shares post fifth straight gaining week

Seoul shares rose on Friday on growing optimism about the economy, fuelled by a positive growth estimate for the first quarter from South Koreas central bank, helping shares hit a six-month closing-high. The Korea Composite Stock Price Index (KOSPI) ended
Published 11 Apr, 2009 12:00am
Brazil stocks surge

Brazil stocks surge

Brazils stocks jumped to a six-month high on Thursday as higher oil and metals prices lifted heavyweights Petrobras and Vale, while Itau and Bradesco charged higher following a rally in global banking stocks. The Bovespa index of the Sao Paulo stock excha
Published 11 Apr, 2009 12:00am
US bonds fall

US bonds fall

US Treasury debt prices fell on Thursday in an abbreviated session as a powerful rally in stocks and some rising expectations of economic stabilisation hurt the safe-haven appeal of government bonds. Wall Street received earnings-related news that assuage
Published 11 Apr, 2009 12:00am
Toronto stocks jump

Toronto stocks jump

Torontos main stock index closed 2.4 percent higher on Thursday, recording its fifth straight weekly gain, as financial issues got a lift from upbeat news from the US banking sector and higher oil prices boosted energy shares. US bank Wells Fargo & Co sai
Published 11 Apr, 2009 12:00am
US bonds fall

US bonds fall

US Treasury debt prices fell on Thursday in an abbreviated session as a powerful rally in stocks and some rising expectations of economic stabilisation hurt the safe-haven appeal of government bonds. Wall Street received earnings-related news that assuage
Published 11 Apr, 2009 12:00am
South Korean treasury-bonds fall

South Korean treasury-bonds fall

South Korean government bonds fell but recouped much of their earlier losses on Friday, with investors bracing for bond auctions on Monday while digesting the central banks revised gross domestic product projections. The finance ministry will sell up to 2
Published 11 Apr, 2009 12:00am
South Korean treasury-bonds fall

South Korean treasury-bonds fall

South Korean government bonds fell but recouped much of their earlier losses on Friday, with investors bracing for bond auctions on Monday while digesting the central banks revised gross domestic product projections. The finance ministry will sell up to 2
Published 11 Apr, 2009 12:00am
Is greed overcoming fear in the stock market?

Is greed overcoming fear in the stock market?

US stocks typically rebound six months before the economy, but investors worry that the current 25 percent rally since the markets March 09 low could be a red herring. At the same time, lack of investor conviction - or simple fear - can be considered a si
Published 11 Apr, 2009 12:00am
Wall Street sets fifth weekly gain

Wall Street sets fifth weekly gain

US stocks jumped on Thursday after Wells Fargo said it expects to report a record quarterly profit, fuelling a month-long rally prompted by hopes that deterioration in the financial sector was abating. Wells Fargo shares shot up 31.7 percent to $19.61 aft
Published 11 Apr, 2009 12:00am
Chinese stocks up 2.7 percent

Chinese stocks up 2.7 percent

Chinese stocks climbed 2.7 percent to a seven-month closing high on Friday in active trade, led by resource shares as investors grew optimistic that the latest economic data would show the most difficult period had passed. The Shanghai Composite Index end
Published 11 Apr, 2009 12:00am
Taiwan stocks finish at seven-month high

Taiwan stocks finish at seven-month high

Taiwan stocks closed 2.01 percent higher at a seven-month high on Friday, posting their seventh straight week of gains as LCD shares such as Chi Mei jumped on hopes the sector had bottomed out. The main TAIEX share index closed 114.16 points higher at 5,7
Published 11 Apr, 2009 12:00am
Thai shares end firmer

Thai shares end firmer

Thai shares closed 2.21 percent higher on Friday in line with the regional trend but escalating anti-government protests in the kingdom suppressed gains, dealers said. The Stock Exchange of Thailand (SET) composite index rose 9.81 points to close at 453.8
Published 11 Apr, 2009 12:00am
Pudong Bank plans $4.4 billion fund raising

Pudong Bank plans $4.4 billion fund raising

Shanghai Pudong Development Bank, part-owned by Citigroup Inc, said on Friday it planned to raise up to $4.4 billion in share and bond sales, joining other Chinese lenders in tapping ample liquidity and heeding Beijings call to boost lending. The governme
Published 11 Apr, 2009 12:00am
Hong Kong financial markets closed for holidays

Hong Kong financial markets closed for holidays

Hong Kongs financial markets were closed on Friday and will be closed on Monday for the Easter holidays. Markets will resume trading on Tuesday, April 14.
Published 11 Apr, 2009 12:00am
Japans record borrowing plan ups pressure on BoJ

Japans record borrowing plan ups pressure on BoJ

The Japanese government said it would sell more than $100 billion in debt in the next 12 months to finance a record economic stimulus plan, in a move that could put pressure on the Bank of Japan to buy more government bonds. Prime Minister Taro Aso unveil
Published 11 Apr, 2009 12:00am
J&J to eliminate 900 positions, mostly sales

J&J to eliminate 900 positions, mostly sales

Diversified healthcare company Johnson & Johnson said on Thursday it was eliminating 900 positions from its Ortho-McNeil-Janssen Pharmaceutical unit in the latest downsizing move in the drug industry. The reductions occurred across Ortho-McNeil-Janssen, b
Published 11 Apr, 2009 12:00am
Vietnam cuts reference, discount rates

Vietnam cuts reference, discount rates

Vietnams central bank on Friday cut its refinancing and discount rates by one percentage point each after the government had urged the bank to boost consumption amid easing inflation. The central bank lowered its refinancing and discount rates to 7 percen
Published 11 Apr, 2009 12:00am
POSCO sees first quarter net profit down 68.5 percent

POSCO sees first quarter net profit down 68.5 percent

South Koreas top steelmaker POSCO said Friday its net profit plunged 68.5 percent year-on-year in the first quarter to 325 billion won (244 million dollars) due to the global downturn. Operating profit for January-March slumped 70.7 percent to 373 billion
Published 11 Apr, 2009 12:00am
POSCO sees first quarter net profit down 68.5 percent

POSCO sees first quarter net profit down 68.5 percent

South Koreas top steelmaker POSCO said Friday its net profit plunged 68.5 percent year-on-year in the first quarter to 325 billion won (244 million dollars) due to the global downturn. Operating profit for January-March slumped 70.7 percent to 373 billion
Published 11 Apr, 2009 12:00am
TSMC first quarter sales fall but beat forecast

TSMC first quarter sales fall but beat forecast

Top contract chip maker TSMC said first-quarter sales fell by 55 percent on weaker chip demand from a year ago, but the result beat its own forecast amid recent rush orders related to Chinas stimulus package. Analysts say TSMC and its cross-town rival, UM
Published 11 Apr, 2009 12:00am
TSMC first quarter sales fall but beat forecast

TSMC first quarter sales fall but beat forecast

Top contract chip maker TSMC said first-quarter sales fell by 55 percent on weaker chip demand from a year ago, but the result beat its own forecast amid recent rush orders related to Chinas stimulus package. Analysts say TSMC and its cross-town rival, UM
Published 11 Apr, 2009 12:00am
Honeywell sees China bucking Asian aerospace trend

Honeywell sees China bucking Asian aerospace trend

Honeywell International Inc, the worlds largest maker of cockpit electronics, expects no growth in 2009 in its $900 million a year Asia-Pacific aerospace business, a senior executive said on Friday. By contrast, China, which accounts for a third of the di
Published 11 Apr, 2009 12:00am
China to limit rate cuts and keep yuan on a leash

China to limit rate cuts and keep yuan on a leash

China will loosen its monetary policy slightly over the next 12 months while maintaining a tight grip on the yuan as an anchor of stability, a Reuters poll shows. Conducted over the past week, the poll supports the view that initial signs of an early reco
Published 11 Apr, 2009 12:00am
Slovene GDP may shrink six percent or more in 2009

Slovene GDP may shrink six percent or more in 2009

Slovenias economy could shrink 6 percent or more this year if the global economic crisis continues at the current level, Bostjan Vasle, the head of a government economic institute, said on Friday. This marked the gloomiest economic forecast so far for Slo
Published 11 Apr, 2009 12:00am
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