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Print - 2009-04-17
Ronaldo's best can fire United to quintuple glory

Ronaldo's best can fire United to quintuple glory

Cristiano Ronaldo insists the best goal of his career will provide Manchester United with a springboard to complete their bid to win five trophies in one season. Ronaldo's stunning long-range strike clinched a 1-0 quarter-final second leg victory at Porto
Published 17 Apr, 2009 12:00am
Mirza gives Venus scare in Charleston

Mirza gives Venus scare in Charleston

India's Sania Mirza gave Wimbledon champion Venus Williams a scare before going down to a 6-1, 3-6, 6-2 defeat in the second round of the WTA claycourt tournament here on Wednesday. Second seeded Williams, who was champion in Charleston in 2004, needed tw
Published 17 Apr, 2009 12:00am
Arsenal brush aside Villarreal

Arsenal brush aside Villarreal

Arsenal turned on the style to crush 10-man Villarreal 3-0 in the Champions League quarter-final second leg on Wednesday and set up an all-English semi-final showdown against Manchester United. After spluttering through much of the season, Arsene Wenger's
Published 17 Apr, 2009 12:00am
Blatter demands fair play in AFC leadership row

Blatter demands fair play in AFC leadership row

FIFA president Sepp Blatter Thursday demanded all sides play by the book in an increasingly bitter battle for power inside the Asian Football Confederation. The head of the sport's world governing body made the comments as relations between AFC president
Published 17 Apr, 2009 12:00am
Rupiah leads Asian currencies advance

Rupiah leads Asian currencies advance

The Indonesian rupiah led Asian currencies higher on Thursday as investors flocked to riskier assets amid hopes of a global economic recovery, but gains were capped by weaker-than-expected China growth data. The high-yielding rupiah rose as far as 10,650
Published 17 Apr, 2009 12:00am
Swiss franc edges up

Swiss franc edges up

The Swiss franc was a touch stronger against the euro and flat against the dollar on Thursday ahead of Swiss producer and import prices for March. Analysts said the possibility of a Swiss National Bank (SNB) foreign exchange intervention to weaken the fra
Published 17 Apr, 2009 12:00am
Australian dollar shies from six-month peak

Australian dollar shies from six-month peak

The Australian dollar flirted with sixth-month peaks on Thursday but a disappointing China growth report took the steam out of its rebound, which had been driven by brave bets the world economy was stabilising. The Aussie slid 0.4 percent after data showe
Published 17 Apr, 2009 12:00am
Dollar gains as economic concerns persist

Dollar gains as economic concerns persist

The US dollar gained on Wednesday as persistent concerns about the global economy added to the greenback's safe-haven allure. The euro came under pressure after European Central Bank Governing Council member Axel Weber said the ECB will announce a package
Published 17 Apr, 2009 12:00am
Yen gains across board after China GDP disappoints

Yen gains across board after China GDP disappoints

The yen jumped against the dollar and other major currencies on Thursday after news that China's economic growth slowed to its weakest on record, disappointing players who had bought higher-yielding currencies in anticipation of more upbeat numbers.
Published 17 Apr, 2009 12:00am
Yuan steady

Yuan steady

China's yuan closed almost unchanged versus the dollar on Thursday after the United States again declined to brand China a currency manipulator and China posted its slowest quarterly GDP growth on record, although there were signs pointing to an upturn.
Published 17 Apr, 2009 12:00am
Hong Kong dollar weaker

Hong Kong dollar weaker

The Hong Kong dollar held steady against the US dollar on Thursday, while most interbank rates softened from the previous session. The local currency traded in a tiny range of 7.7501-7.7504 against the US dollar on Thursday, ending barely changed from lat
Published 17 Apr, 2009 12:00am
Nikkei rises, gains vanish after China GDP

Nikkei rises, gains vanish after China GDP

Japan's Nikkei stock average trimmed its gains to 0.1 percent on Thursday after data showed China's quarterly growth at its weakest ever, prompting investors to lock in profits after the benchmark rose more than 3 percent in early trade. But the market wa
Published 17 Apr, 2009 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares ended slightly firmer on Thursday helped by gains in some techs and steel issues, but losses by banks including Hana Financial Group weighed. The Korea Composite Stock Price Index (KOSPI) finished up 0.27 percent at 1,336.72 points.
Published 17 Apr, 2009 12:00am
Bangladesh interbank forex and interest rates

Bangladesh interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 69.00/69.02 (previous 69.02/69.02). Call Money Rates: 0.25-10.00 percent (previous 0.25-10.00 percent.
Published 17 Apr, 2009 12:00am
Chinese stocks dip

Chinese stocks dip

Chinese stocks dipped 0.08 percent in active trade on Thursday, snapping a five-day winning streak with energy and property shares dropping after data showed economic growth fell in the first quarter to the lowest rate on record. The Shanghai Composite In
Published 17 Apr, 2009 12:00am
Taiwan stocks surge

Taiwan stocks surge

Taiwan stocks rose 2.08 percent on Thursday to a seven-month closing high, as financial shares such as Cathay Financial rallied ahead of the potential signing of a financial co-operation with China later this year. The main TAIEX share index closed 121.98
Published 17 Apr, 2009 12:00am
US bonds up

US bonds up

US Treasury debt prices mostly gained on Wednesday after data showing a steep deterioration in industrial production and nary a whiff of inflation. Gains were limited, however, as strength in stocks ate away at the safe-haven appeal of government debt, wh
Published 17 Apr, 2009 12:00am
Singapore shares slip

Singapore shares slip

Singapore shares closed down 0.75 percent on Thursday on losses in key blue chips, dealers said. The main Straits Times Index (STI) fell 14.24 points to 1,891.75 on volume of 3.79 billion shares worth 1.85 billion Singapore dollars (1.23 billion US). Lose
Published 17 Apr, 2009 12:00am
US bonds up

US bonds up

US Treasury debt prices mostly gained on Wednesday after data showing a steep deterioration in industrial production and nary a whiff of inflation. Gains were limited, however, as strength in stocks ate away at the safe-haven appeal of government debt, wh
Published 17 Apr, 2009 12:00am
US stocks end firmer

US stocks end firmer

US stocks rose on Wednesday amid numerous signs the recession could be abating and data from American Express signalled the ability of some consumers to pay their bills is stabilising. Intel Corp limited the Nasdaq's gains, however, saying economic uncert
Published 17 Apr, 2009 12:00am
Hong Kong shares decline

Hong Kong shares decline

Hong Kong shares fell 0.55 percent on Thursday, giving up early gains that sent the benchmark index to a six-month high, after disappointing earnings and faltering first-quarter Chinese economic growth prompted investors to lock in profits. News that Chin
Published 17 Apr, 2009 12:00am
Philippines shares up

Philippines shares up

Philippines shares closed 2.09 percent higher on Thursday due to the upturn on Wall Street and on expectations that the central bank will cut key interest rates later, dealers said. The composite index rose 42.17 points to 2,064.66 while the all-shares in
Published 17 Apr, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 0.48 percent on Thursday amid buying interest from local funds, dealers said. The Kuala Lumpur Composite Index gained 4.60 points to 961.28, with decliners outnumbering gainers 414 to 310. "Although the benchmark ended in positi
Published 17 Apr, 2009 12:00am
Jakarta shares soar

Jakarta shares soar

Indonesian shares ended 1.97 percent higher on Thursday, with firming global commodity prices pushing up second-line resource stocks, dealers said. The Jakarta Composite Index rose 31.42 points to 1,625.08. "The volume is very healthy, showing that the ma
Published 17 Apr, 2009 12:00am
South Africa says growth target 'implausible'

South Africa says growth target 'implausible'

South Africa's target of lifting economic growth to an average of 6 percent between 2010 and 2014 appears "implausible" due to the global economic downturn, the government said on Thursday. It will also struggle to meet its aim of halving unemployment. It
Published 17 Apr, 2009 12:00am
Wal-Mart chief executive doesn't see a quick end to recession

Wal-Mart chief executive doesn't see a quick end to recession

The head of Wal-Mart Stores Inc, the world's biggest retailer, said on Wednesday there remained a "lot of stress" in the economy and he did not anticipate a quick end to the recession. "There's still a lot of stress," Wal-Mart CEO Mike Duke said on a tape
Published 17 Apr, 2009 12:00am
Japan's NEC Electronics and Renesas Technology in merger talks

Japan's NEC Electronics and Renesas Technology in merger talks

Japanese chipmakers NEC Electronics and Renesas Technology are in the final stage of merger talks, four sources said, the latest shakeout in an industry wracked by a huge chip glut and a slump in prices. The move would create the world's No 3 chipmaker af
Published 17 Apr, 2009 12:00am
Roche beats recession in first quarter, confident on 2009

Roche beats recession in first quarter, confident on 2009

Swiss drugmaker Roche Holding brushed off the downturn in the first quarter, posting a 7 percent rise in sales led by cancer medicine Avastin, and sounded a confident note for the full year. Roche, which last month bought out US biotech group Genentech fo
Published 17 Apr, 2009 12:00am
Roche beats recession in first quarter, confident on 2009

Roche beats recession in first quarter, confident on 2009

Swiss drugmaker Roche Holding brushed off the downturn in the first quarter, posting a 7 percent rise in sales led by cancer medicine Avastin, and sounded a confident note for the full year. Roche, which last month bought out US biotech group Genentech fo
Published 17 Apr, 2009 12:00am
Safran rules out buying state chemicals firm

Safran rules out buying state chemicals firm

French aerospace group Safran ruled out buying state chemicals firm SNPE, in spite of reported government pressure to do so, and reaffirmed its forecast of flat 2009 revenues, after a mixed first quarter. The maker of civil and military aero engines and g
Published 17 Apr, 2009 12:00am
Dance of Democracy: Indians start voting

Dance of Democracy: Indians start voting

In tiny villages and sprawling concrete cities, tens of millions of Indians voted Thursday at the start of a monthlong process expected to yield no clear winner as this Asian giant grapples with global economic malaise. The vote is the first of five phase
Published 17 Apr, 2009 12:00am
Brazil casts budget surplus cut as 'damage control'

Brazil casts budget surplus cut as 'damage control'

Brazil's decision to cut its targeted primary budget surplus will not lead to "permanent fiscal deterioration" and should be seen as a government attempt at "damage control" amid economic slowdown, a Brazilian central bank director said on Thursday. Mario
Published 17 Apr, 2009 12:00am
Dance of Democracy: Indians start voting

Dance of Democracy: Indians start voting

In tiny villages and sprawling concrete cities, tens of millions of Indians voted Thursday at the start of a monthlong process expected to yield no clear winner as this Asian giant grapples with global economic malaise. The vote is the first of five phase
Published 17 Apr, 2009 12:00am
Grim first quarter shows UBS revival a hard slog

Grim first quarter shows UBS revival a hard slog

A clear message emerged from UBS's weak trading update on Wednesday: the road to recovery for the troubled Swiss bank will be a long and bumpy one. UBS disappointed investors with news of a $1.7 billion first quarter loss, a thinning capital cushion, a fa
Published 17 Apr, 2009 12:00am
G8 farm ministers to meet on food security, supply

G8 farm ministers to meet on food security, supply

Food security and boosting global agricultural output to stamp out hunger will top the agenda of the first ever meeting of farm ministers from major industrialised and developing nations this weekend in Italy. After sky-high food prices sparked riots and
Published 17 Apr, 2009 12:00am
Third of BP investors oppose pay plan, RBS looms

Third of BP investors oppose pay plan, RBS looms

More than a third of BP investors opposed the oil major's executive pay plan on Thursday and its chairman came under fire for his role as a non-executive director of nationalised lender Royal Bank of Scotland. BP said 37.6 percent of investors who voted a
Published 17 Apr, 2009 12:00am
Asia may see more conflicts over water: report

Asia may see more conflicts over water: report

Asia may see more conflicts over scarce water resources in the coming years as climate change and population growth threaten access to the most basic natural resource, a report warned on Friday. Water problems in Asia are already severe, with one in five
Published 17 Apr, 2009 12:00am
Danone keeps 2009 goals, sees stable consumer trend

Danone keeps 2009 goals, sees stable consumer trend

French food group Danone stuck to its 2009 earnings growth targets after demand for its baby food and medical nutrition products helped lift first-quarter like-for-like sales by 1 percent. Consumer behaviour will likely remain stable for the rest of the y
Published 17 Apr, 2009 12:00am
Asia may see more conflicts over water: report

Asia may see more conflicts over water: report

Asia may see more conflicts over scarce water resources in the coming years as climate change and population growth threaten access to the most basic natural resource, a report warned on Friday. Water problems in Asia are already severe, with one in five
Published 17 Apr, 2009 12:00am
Cathay Pacific pilots and cabin crew face forced unpaid leave

Cathay Pacific pilots and cabin crew face forced unpaid leave

Pilots and flight attendants with leading Hong Kong airline Cathay Pacific said Thursday they would fight anticipated "illegal" moves to make them take unpaid leave.The airline, which with its subsidiaries has more than 2,000 employees, is reported to pre
Published 17 Apr, 2009 12:00am
Asia may see more conflicts over water: report

Asia may see more conflicts over water: report

Asia may see more conflicts over scarce water resources in the coming years as climate change and population growth threaten access to the most basic natural resource, a report warned on Friday. Water problems in Asia are already severe, with one in five
Published 17 Apr, 2009 12:00am
Fiat sales seen up in Italy, Germany

Fiat sales seen up in Italy, Germany

Car maker Fiat SpA said it expected higher German and Italian April sales on Thursday as Canada put pressure on Chrysler unions to agree cost cuts, key to a alliance with the Italian company. In a sign government incentives for the crisis-hit auto sector
Published 17 Apr, 2009 12:00am
Obama to release Bush-era interrogation memos

Obama to release Bush-era interrogation memos

President Barack Obama's administration said it would Thursday release four memos, with sections blacked out, covering the Bush administration's justification for CIA interrogations of terror suspects. White House spokesman Robert Gibbs told reporters on
Published 17 Apr, 2009 12:00am
Fiat says ready with 'plan B' if Chrysler deal fails

Fiat says ready with 'plan B' if Chrysler deal fails

The Fiat auto group said on Thursday that it had a "plan B" ready if a proposed venture with Chrysler, estimated to have a 50-percent chance of success, fails to come to fruition. The alliance with stricken US auto giant Chrysler "has a fifty-percent chan
Published 17 Apr, 2009 12:00am
Obama to release Bush-era interrogation memos

Obama to release Bush-era interrogation memos

President Barack Obama's administration said it would Thursday release four memos, with sections blacked out, covering the Bush administration's justification for CIA interrogations of terror suspects. White House spokesman Robert Gibbs told reporters on
Published 17 Apr, 2009 12:00am
eBay to take controlling stake in South Korea's top site

eBay to take controlling stake in South Korea's top site

US online auction giant eBay will take a controlling stake in South Korea's biggest online marketplace Gmarket in a deal worth up to 1.2 billion dollars, the two companies announced on Thursday. Gmarket's directors voted unanimously to approve the transac
Published 17 Apr, 2009 12:00am
France's Dassault out of $12 billion Indian fighter deal

France's Dassault out of $12 billion Indian fighter deal

India has decided not to buy Rafale fighters from French firm Dassault Aviation as part of a 12-billion-dollar upgrade of its air force, an Indian defence ministry official said Thursday. The official said Dassault, one of six contenders in the race for a
Published 17 Apr, 2009 12:00am
China Eastern Airlines reports huge loss in 2008

China Eastern Airlines reports huge loss in 2008

China Eastern Airlines said it suffered a net loss of 15.3 billion yuan (2.2 billion dollars) last year due to falling passenger numbers, rising fuel costs and bad bets on fuel hedging contracts. The country's third largest carrier, which posted a net pro
Published 17 Apr, 2009 12:00am
France's Dassault out of $12 billion Indian fighter deal

France's Dassault out of $12 billion Indian fighter deal

India has decided not to buy Rafale fighters from French firm Dassault Aviation as part of a 12-billion-dollar upgrade of its air force, an Indian defence ministry official said Thursday. The official said Dassault, one of six contenders in the race for a
Published 17 Apr, 2009 12:00am
China Eastern Airlines reports huge loss in 2008

China Eastern Airlines reports huge loss in 2008

China Eastern Airlines said it suffered a net loss of 15.3 billion yuan (2.2 billion dollars) last year due to falling passenger numbers, rising fuel costs and bad bets on fuel hedging contracts. The country's third largest carrier, which posted a net pro
Published 17 Apr, 2009 12:00am
France''''s Dassault out of $12 billion Indian fighter deal

France''''s Dassault out of $12 billion Indian fighter deal

India has decided not to buy Rafale fighters from French firm Dassault Aviation as part of a 12-billion-dollar upgrade of its air force, an Indian defence ministry official said Thursday. The official said Dassault, one of six contenders in the race for a
Published 17 Apr, 2009 12:00am
General Growth files for bankruptcy protection

General Growth files for bankruptcy protection

General Growth Properties Inc, the second-largest US mall owner, declared bankruptcy on Thursday in the biggest real estate failure in US history. Ending months of speculation, General Growth, along with 158 of its more than 200 US malls, filed for Chapte
Published 17 Apr, 2009 12:00am
France''s Dassault out of $12 billion Indian fighter deal

France''s Dassault out of $12 billion Indian fighter deal

India has decided not to buy Rafale fighters from French firm Dassault Aviation as part of a 12-billion-dollar upgrade of its air force, an Indian defence ministry official said Thursday. The official said Dassault, one of six contenders in the race for a
Published 17 Apr, 2009 12:00am
Gazprom threatens Ukraine with hefty gas fine

Gazprom threatens Ukraine with hefty gas fine

Russian gas export monopoly Gazprom has threatened to fine Ukraine for not buying as much gas as stipulated in its contract for the first quarter of 2009, a top Ukrainian official said on Thursday. Bogdan Sokolovsky, an energy aide to the Ukrainian presid
Published 17 Apr, 2009 12:00am
ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

Pakistan and the United States of America (USA) are to hold negotiations to revive the apparently "dead" Trade and Investment Framework Agreement (Tifa) in the last week of current month, top of the agenda will be Reconstruction Opportunity Zones (ROZs) i
Published 17 Apr, 2009 12:00am
General Growth files for bankruptcy protection

General Growth files for bankruptcy protection

General Growth Properties Inc, the second-largest US mall owner, declared bankruptcy on Thursday in the biggest real estate failure in US history. Ending months of speculation, General Growth, along with 158 of its more than 200 US malls, filed for Chapte
Published 17 Apr, 2009 12:00am
Government pocketed Rs 58.533 billion PDL during July-February 2009

Government pocketed Rs 58.533 billion PDL during July-February 2009

The government has pocketed Rs 58.533 billion petroleum development levy (PDL) from consumers during the first eight months (July-February) of the current fiscal year. Sources told Business Recorder that it is the actual collection of PDL in additi
Published 17 Apr, 2009 12:00am
Banks should use 'judgement' in illiquid asset valuation: BIS

Banks should use 'judgement' in illiquid asset valuation: BIS

Banks should make a careful judgement on the value of their illiquid assets, rather than rely on current market prices to determine a fair price, international banking supervisors said "Determining fair value in a market that has become inactive depends o
Published 17 Apr, 2009 12:00am
Government pocketed Rs 58.533 billion PDL during July-February 2009

Government pocketed Rs 58.533 billion PDL during July-February 2009

The government has pocketed Rs 58.533 billion petroleum development levy (PDL) from consumers during the first eight months (July-February) of the current fiscal year. Sources told Business Recorder that it is the actual collection of PDL in additi
Published 17 Apr, 2009 12:00am
Tech Mahindra's bid for Satyam approved

Tech Mahindra's bid for Satyam approved

India's Company Law Board on Thursday approved a bid from mid-sized outsourcing firm Tech Mahindra to take over graft-tainted Satyam Computer Services, an official said. Venturebay, a subsidiary of Tech Mahindra, will pay just over 350 million dollars for
Published 17 Apr, 2009 12:00am
Government pocketed Rs 58.533 billion PDL during July-February 2009

Government pocketed Rs 58.533 billion PDL during July-February 2009

The government has pocketed Rs 58.533 billion petroleum development levy (PDL) from consumers during the first eight months (July-February) of the current fiscal year. Sources told Business Recorder that it is the actual collection of PDL in additi
Published 17 Apr, 2009 12:00am
Nokia posts 90 percent drop in profit

Nokia posts 90 percent drop in profit

Nokia, the world's leading handset maker, reported a 90-percent drop in its first-quarter net profit on Thursday but its shares shot higher as investors seized on signs of improving market conditions. The Finnish firm's net profit in January-March plunged
Published 17 Apr, 2009 12:00am
No WHT exemption certificate on iron, steel supply

No WHT exemption certificate on iron, steel supply

The Federal Board of Revenue has rejected issuance of withholding tax exemption certificate on the supply of iron and steel products used as raw materials in the finished products such as auto parts by local manufactures.
Published 17 Apr, 2009 12:00am
China growth slowest on record, but upturn in sight

China growth slowest on record, but upturn in sight

China struggled out of the gate this year with its weakest quarter on record, but a pick-up in March showed the world's third-largest economy was on track for stronger growth in coming months. A surge in lending and public spending cushioned a collapse in
Published 17 Apr, 2009 12:00am
No WHT exemption certificate on iron, steel supply

No WHT exemption certificate on iron, steel supply

The Federal Board of Revenue has rejected issuance of withholding tax exemption certificate on the supply of iron and steel products used as raw materials in the finished products such as auto parts by local manufactures.
Published 17 Apr, 2009 12:00am
Malaysia says 30,000 jobs lost amid global crisis

Malaysia says 30,000 jobs lost amid global crisis

A Malaysian minister said Thursday that more than 30,000 local and foreign workers had lost their jobs this year amid the global slowdown. Deputy human resources minister Maznah Mazlan told state news agency Bernama the figure of 30,650 comprised 23,149 w
Published 17 Apr, 2009 12:00am
ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

Pakistan and the United States of America (USA) are to hold negotiations to revive the apparently "dead" Trade and Investment Framework Agreement (Tifa) in the last week of current month, top of the agenda will be Reconstruction Opportunity Zones (ROZs) i
Published 17 Apr, 2009 12:00am
ArcelorMittal delays India steel mills

ArcelorMittal delays India steel mills

The world's top steel maker, Arcelor Mittal, on Thursday said it would delay the launch of two new steel plants in India by two years because of the global economic crisis. "Given the long lead-time that is required for (start-up) projects, it would not b
Published 17 Apr, 2009 12:00am
ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

ROZs in tribal areas, Balochistan: Pak-US talks to revive Tifa soon

Pakistan and the United States of America (USA) are to hold negotiations to revive the apparently "dead" Trade and Investment Framework Agreement (Tifa) in the last week of current month, top of the agenda will be Reconstruction Opportunity Zones (ROZs) i
Published 17 Apr, 2009 12:00am
McDonald's Hong Kong boss took $330,000 in bribes

McDonald's Hong Kong boss took $330,000 in bribes

The former managing director of fast food chain McDonald's in Hong Kong faced jail Thursday after being convicted of taking 330,000 US dollars in bribes from a food supplier.Joseph Lau Si-sing, 48, was found guilty at a court hearing Wednesday of taking b
Published 17 Apr, 2009 12:00am
Maulana Aziz released on bail

Maulana Aziz released on bail

Following issuance of release orders by the Anti Terrorist Court (ATC), on Thursday morning, former Khateeb of Lal Masjid Maulana Abdul Aziz was released. The ATC sent the release orders to Adiala Central Jail for immediate release of the former Khateeb a
Published 17 Apr, 2009 12:00am
Nokia posts 90 percent drop in profit

Nokia posts 90 percent drop in profit

Nokia, the world's leading handset maker, reported a 90-percent drop in its first-quarter net profit on Thursday but its shares shot higher as investors seized on signs of improving market conditions. The Finnish firm's net profit in January-March plunged
Published 17 Apr, 2009 12:00am
Safety matches: Egypt removes anti-dumping duties

Safety matches: Egypt removes anti-dumping duties

The Egypt has removed the definitive anti-dumping duties on the import of Pakistani safety matches in boxes. According to information reaching TDAP here on Thursday, Egyptian authorities had imposed anti-dumping duties on the import of matches in boxes or
Published 17 Apr, 2009 12:00am
US housing starts, new jobless claims drop

US housing starts, new jobless claims drop

The number of Americans claiming jobless aid hit a record early in April and groundbreaking for new homes slumped sharply in March, according to data on Thursday that showed the economy still being held back by the recession. However, new claims for joble
Published 17 Apr, 2009 12:00am
Safety matches: Egypt removes anti-dumping duties

Safety matches: Egypt removes anti-dumping duties

The Egypt has removed the definitive anti-dumping duties on the import of Pakistani safety matches in boxes. According to information reaching TDAP here on Thursday, Egyptian authorities had imposed anti-dumping duties on the import of matches in boxes or
Published 17 Apr, 2009 12:00am
J.P Morgan profit rises to $2.1 billion

J.P Morgan profit rises to $2.1 billion

US banking giant J.P. Morgan Chase announced on Thursday a net profit of 2.1 billion dollars for the first quarter of 2009, beating expectations like peer Goldman Sachs earlier this week. "The firm earned more than two billion dollars this quarter, despit
Published 17 Apr, 2009 12:00am
Safety matches: Egypt removes anti-dumping duties

Safety matches: Egypt removes anti-dumping duties

The Egypt has removed the definitive anti-dumping duties on the import of Pakistani safety matches in boxes. According to information reaching TDAP here on Thursday, Egyptian authorities had imposed anti-dumping duties on the import of matches in boxes or
Published 17 Apr, 2009 12:00am
J.P Morgan profit rises to $2.1 billion

J.P Morgan profit rises to $2.1 billion

US banking giant J.P. Morgan Chase announced on Thursday a net profit of 2.1 billion dollars for the first quarter of 2009, beating expectations like peer Goldman Sachs earlier this week. "The firm earned more than two billion dollars this quarter, despit
Published 17 Apr, 2009 12:00am
No WHT exemption certificate on iron, steel supply

No WHT exemption certificate on iron, steel supply

The Federal Board of Revenue has rejected issuance of withholding tax exemption certificate on the supply of iron and steel products used as raw materials in the finished products such as auto parts by local manufactures.
Published 17 Apr, 2009 12:00am
Mid-Atlantic factory contraction slows

Mid-Atlantic factory contraction slows

The contraction in manufacturing in the US Mid-Atlantic area slowed in April as result of a less severe deterioration in new orders and labour conditions, a regional Federal Reserve survey released on Thursday showed.
Published 17 Apr, 2009 12:00am
Karachi LTU withholds huge sales tax refunds

Karachi LTU withholds huge sales tax refunds

Large Taxpayer Units (LTU), Karachi has withheld billions of rupees sales tax refunds of major multinational and local companies including Shell, PSO, PPL, SSGCL, Pakistan Refinery Limited and National Refinery Limited, etc, for last six months, it is rel
Published 17 Apr, 2009 12:00am
Drop in euro output, inflation calls for ECB easing

Drop in euro output, inflation calls for ECB easing

Eurozone industrial output plummeted by a record 18.4 percent year-on-year in February and inflation halved to an all-time low in March, underlining the depth of recession and adding to pressure for ECB policy easing. Production in the 16 countries using
Published 17 Apr, 2009 12:00am
Maulana Aziz released on bail

Maulana Aziz released on bail

Following issuance of release orders by the Anti Terrorist Court (ATC), on Thursday morning, former Khateeb of Lal Masjid Maulana Abdul Aziz was released. The ATC sent the release orders to Adiala Central Jail for immediate release of the former Khateeb a
Published 17 Apr, 2009 12:00am
Oil prices under $50 after two percent surge

Oil prices under $50 after two percent surge

Oil was steady under $50 a barrel on Thursday, after surging more than 2 percent earlier as equity markets rallied on signs the US recession was easing, boosting hopes of a demand recovery in world's top energy user. The market will be eyeing US weekly jo
Published 17 Apr, 2009 12:00am
US gold ends up

US gold ends up

US gold futures ended higher after a quite, mixed session on Wednesday, whipsawing between higher physical demand ahead of a key gold-buying festival in top bullion buyer India and near-term deflationary pressures because of an ailing economy.
Published 17 Apr, 2009 12:00am
PML-N decides not to rejoin government

PML-N decides not to rejoin government

Pakistan Muslim League-Nawaz (PML-N) on Thursday decided not to join government in centre, as invited by the Prime Minister Yousuf Raza Gilani, assuring the government of its support while remaining on opposition benches. The decision was taken in the mee
Published 17 Apr, 2009 12:00am
Gold ends little changed

Gold ends little changed

Gold was little changed around $890 per ounce on Thursday, torn between weakening stock markets and a lack of strong physical buying. Bullion earlier got a boost when Asian stocks pared gains as investors' cash in profits after China posted its slowest qu
Published 17 Apr, 2009 12:00am
PML-N decides not to rejoin government

PML-N decides not to rejoin government

Pakistan Muslim League-Nawaz (PML-N) on Thursday decided not to join government in centre, as invited by the Prime Minister Yousuf Raza Gilani, assuring the government of its support while remaining on opposition benches. The decision was taken in the mee
Published 17 Apr, 2009 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm futures fell 1.7 percent on Thursday as traders paused to take profits from a rally triggered by expectations of lower domestic inventories and strengthening global soyoil markets. Palm oil, used in products ranging from chocolates and cosm
Published 17 Apr, 2009 12:00am
Malaysian tin inches up

Malaysian tin inches up

Malaysian tin inched up 0.9 percent on Thursday on strength in London Metal Exchange prices and heavy buying from Europe and Japan, one dealer said.
Published 17 Apr, 2009 12:00am
US soyabean finishes firm

US soyabean finishes firm

US soyabeans on the Chicago Board of Trade ended mostly firm on Wednesday after soaring to a three-month high amid technical strength and tightening domestic stocks, traders said. When May failed to penetrate $10.46-1/2 a bushel matching the January 12 hi
Published 17 Apr, 2009 12:00am
Karachi LTU withholds huge sales tax refunds

Karachi LTU withholds huge sales tax refunds

Large Taxpayer Units (LTU), Karachi has withheld billions of rupees sales tax refunds of major multinational and local companies including Shell, PSO, PPL, SSGCL, Pakistan Refinery Limited and National Refinery Limited, etc, for last six months, it is rel
Published 17 Apr, 2009 12:00am
Indonesia may keep CPO export tax at zero percent in May

Indonesia may keep CPO export tax at zero percent in May

Indonesia may keep its palm oil export tax at zero percent in May, despite a recent rise in palm oil prices, Trade Minister Mari Pangestu said on Thursday. "It looks like CPO exports in May will not be taxed. In other words, the export tax will be kept at
Published 17 Apr, 2009 12:00am
Karachi LTU withholds huge sales tax refunds

Karachi LTU withholds huge sales tax refunds

Large Taxpayer Units (LTU), Karachi has withheld billions of rupees sales tax refunds of major multinational and local companies including Shell, PSO, PPL, SSGCL, Pakistan Refinery Limited and National Refinery Limited, etc, for last six months, it is rel
Published 17 Apr, 2009 12:00am
New York sugar futures easier

New York sugar futures easier

Raw sugar futures settled lower Wednesday on investor profit-taking and pressure from the transfer of positions ahead of expiration in the spot month at the end of the month, brokers said. The May sugar contract fell 0.11 cent to finish at 13.14 cents per
Published 17 Apr, 2009 12:00am
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