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Print - 2009-05-01
Prime Minister urges workers to make Pakistan progressive, moderate

Prime Minister urges workers to make Pakistan progressive, moderate

Prime Minister Syed Yousuf Raza Gilani urged workers and employers of the country to come forward and play their role in making Pakistan a truly progressive, moderate and an enlightened country in step with the modern world. In a message on the occasion o
Published 01 May, 2009 12:00am
Zardari condemns Karachi violence

Zardari condemns Karachi violence

President Asif Ali Zardari while strongly condemning the violence in Karachi, which caused loss of precious human lives, said on Wednesday it is time to exhibit national unity. Spokesperson former Senator Farhatullah said that the President who is travell
Published 01 May, 2009 12:00am
Fehmida condemns Karachi violence

Fehmida condemns Karachi violence

Dr Fehmida Mirza, Speaker National Assembly has strongly condemned the unfortunate incidents of violence in various parts of Karachi city, resulting in loss of precious lives, property and disrupting peace in the city. Expressing grief over the sad incide
Published 01 May, 2009 12:00am
Japanese ambassador calls on Pervez Ashraf

Japanese ambassador calls on Pervez Ashraf

Japanese ambassador to Pakistan, Chihiro Atsumi and federal minister for water and power, Raja Pervez Ashraf on Thursday discussed the current political situation, impact of fight against terrorism and issues relating to the economy and the power sector.
Published 01 May, 2009 12:00am
Karachi Violence: Rehman presents preliminary report to Prime Minister

Karachi Violence: Rehman presents preliminary report to Prime Minister

Prime Minister Yousuf Raza Gilani has stressed the need of national unity and solidarity, saying that the objective behind launching operation in Lower Dir and Buner was to restore writ of the Government. "The operation is meant to re-establish the writ o
Published 01 May, 2009 12:00am
NWFP government claims restoration of writ in Malakand

NWFP government claims restoration of writ in Malakand

The provincial government of NWFP on Thursday claimed its writ in the turbulent districts of Swat, Buner and Dir Lower of the Malakand Division was restored after the launching of the operation against militants.
Published 01 May, 2009 12:00am
PIA strives to break even by year-end: managing director

PIA strives to break even by year-end: managing director

Pakistan International Airlines (PIA) Managing Director Captain Mohammad Aijaz Haroon has disclosed that in the first quarter of 2009 (January-March), national carrier has earned an operating profit of Rs 2 billion after six years. He was addressing the '
Published 01 May, 2009 12:00am
PML-Q to withdraw members from body on CoD: Wasim

PML-Q to withdraw members from body on CoD: Wasim

Pakistan Muslim League-Quaid-e-Azam (PML-Q) has decided to withdraw its members name from the proposed All Parties Parliamentary Committee on Charter of democracy (CoD), Business Recorder learnt on Thursday. Leader of opposition in Senate Wasim Saj
Published 01 May, 2009 12:00am
One killed, seven wounded in blast

One killed, seven wounded in blast

A roadside bomb blast killed one Shia and wounded six others travelling by mini-bus in an apparent sectarian attack in north-west Pakistan on Thursday, police said. The explosion occurred near the garrison town of Kohat. "Seven people were injured in the
Published 01 May, 2009 12:00am
Four alleged criminals arrested

Four alleged criminals arrested

On the orders of Capital City Police Officer, Muhammad Pervez Rathore, CIA Police City division has arrested four suspects of an organised gang involved in street crimes, dacoity, theft and motorcycle snatching and has recovered cash, mobile phones and il
Published 01 May, 2009 12:00am
Meat importers demand better facilities at Wahgha border

Meat importers demand better facilities at Wahgha border

The meat importers have demanded of the government to improve arrangements at Wahgha border besides facilitating them for doing business without any problem. Fayyaz Khan importer of Buffalo meat along with other importers said this while addressing a pres
Published 01 May, 2009 12:00am
PFUJ expresses complete solidarity with workers

PFUJ expresses complete solidarity with workers

The Pakistan Federal Union of Journalists has expressed complete solidarity with the workers of the entire globe and emphasised the need to speed up efforts for the welfare of working classes in all societies irrespective of any discrimination and prejudi
Published 01 May, 2009 12:00am
PPP government always supported cause of labour: Kaira

PPP government always supported cause of labour: Kaira

Minister for Information and Broadcasting Qamar Zaman Kaira has said the present Government is the people's government and Pakistan People's Party has always supported the cause of labour right from its inception.
Published 01 May, 2009 12:00am
Oil and gas sector: Ministry plans road-shows to attract investment

Oil and gas sector: Ministry plans road-shows to attract investment

Ministry of Petroleum and Natural Resources is planning to hold four road-shows abroad aimed at promoting the new petroleum policy and attracting foreign investors in oil and gas sector. "The ministry has planned four road-shows each in Canada, USA, Scotl
Published 01 May, 2009 12:00am
Pakistan fully alive to risk of swine flu: minister

Pakistan fully alive to risk of swine flu: minister

Federal Health Minister Mir Aijaz Hussain Jakhrani said here on Thursday that Pakistan was fully alive to face the danger of swine flu and had adopted preventive measures so that the disease that had already taken death toll in some countries may not infe
Published 01 May, 2009 12:00am
SECP condoles death of Azhar Butt

SECP condoles death of Azhar Butt

Securities and Exchange Commission of Pakistan (SECP) has condoled the death of senior journalist Azhar Mehmood Butt who passed away late Sunday night. Imran Ghaznavi, the Head of the Internal & External Communications, SECP, said in a press statement her
Published 01 May, 2009 12:00am
Ogra contradicts news

Ogra contradicts news

Ogra has contradicted news items appeared in a section of Press/News Channels giving impression that Ogra has recommended decrease in the consumer price of petroleum products. The spokesman of Ogra stated that the position reflected in the Press/TV Channe
Published 01 May, 2009 12:00am
Wapda announces incentives for employees

Wapda announces incentives for employees

Wapda is providing comprehensive health care to its employees and their families through a countrywide network of 11 hospitals and 30 dispensaries. The newly approved dispensaries at Kasur, Gujrat, Jhang, Rahim Yar Khan, Dadu, Bahawalpur and Bahawalnaghar
Published 01 May, 2009 12:00am
Punjab government initiates NCDCP

Punjab government initiates NCDCP

The Punjab government, for the first time, has initiated Non-Communicable Diseases Control Programme (NCDCP) in the province while prevention of psychiatric and mental diseases is also being included in this programme so that such diseases could be checke
Published 01 May, 2009 12:00am
Sindh government may provide 1,000 tractors on subsidised rates

Sindh government may provide 1,000 tractors on subsidised rates

DCO Hyderabad Aftab Ahmed Khatri has informed that the provincial government was planning to provide 1,000 tractors to the growers of the province on subsidised rates to boost the agricultural economy and raise the living standard of the growing community
Published 01 May, 2009 12:00am
Seminar on importance of infrastructure for growth held

Seminar on importance of infrastructure for growth held

Ovex Technologies; a Silver Certified Partner of Cisco Systems, the second largest exporter of IT Services in Pakistan and the largest Third-Party, Offshore BPO & IT Solutions Provider, on Thursday highlighted the importance of "Infrastructure for Growth,
Published 01 May, 2009 12:00am
Pakistan and Argentina urged to explore new areas for enhancing trade

Pakistan and Argentina urged to explore new areas for enhancing trade

Pakistan and Argentina should explore new areas of common interest for enhancing bilateral trade and economic relations between the two countries. This was stated by Rodolpho J. Martin Saravia, Ambassador of Argentina in Pakistan while addressing the busi
Published 01 May, 2009 12:00am
HRDN organises 6-day ATR in Istanbul

HRDN organises 6-day ATR in Istanbul

Human Resource Development Network (HRDN) organised 6-day Annual Trainers Retreat (ATR) in Istanbul, Turkey form April to 24, 2009. HRDN is a membership based network of more than 800 members. The members include both individuals and organisations from Pa
Published 01 May, 2009 12:00am
Indian agencies' hand in Karachi violence: Senator

Indian agencies' hand in Karachi violence: Senator

Senator Talha Mehmood, Chairman, Senate Standing Committee on Interior has seen involvement of Indian agencies in creating the worst type of law and order situation in Karachi. Federal government should form a comprehensive policy to deal with the terrori
Published 01 May, 2009 12:00am
Engineering students to contest Global Eco-marathon

Engineering students to contest Global Eco-marathon

It will be for the first time that four Pakistani teams of young engineers will compete in the global competition "The Shell Eco-marathon - 2009" scheduled from May 7 to 9, in Germany. Shell International, the organisers of the event in a press statement
Published 01 May, 2009 12:00am
Sindh University announces new schedule of written test for teachers

Sindh University announces new schedule of written test for teachers

The University of Sindh has announced new schedule to conduct written test for recruitment of schoolteachers on Thursday. According the new schedule test of High School Teachers (HST) of Karachi candidates will be conducted on May 10, 2009. It further ann
Published 01 May, 2009 12:00am
HRCP calls for protection of Akbar Bugti's niece

HRCP calls for protection of Akbar Bugti's niece

The Human Rights Commission of Pakistan (HRCP) has called upon the President of Pakistan and the Punjab Chief Minister to ensure that Samia Mazari, niece of Nawab Akbar Bugti and mother-in-law of Brahmadagh Bugti, is provided protection against harassment
Published 01 May, 2009 12:00am
Government urged to take steps to control law, order situation

Government urged to take steps to control law, order situation

Business community of the city has urged the government to take appropriate and immediate measures to control the worsening law and order situation of the city, which is not only causing losses of property and precious lives but also send negative percept
Published 01 May, 2009 12:00am
Prominent poet, critic Dr Qamar Rais passes away

Prominent poet, critic Dr Qamar Rais passes away

Dr Qamar Rais, a prominent Urdu poet, writer, critic, researcher and teacher passed away in Delhi (India) on Wednesday night. He was in coma for about last 15 days, his friends here informed Business Recorder. Dr Rais was born on July 21, 1932 at S
Published 01 May, 2009 12:00am
'Time management can help in resolving mothers problems'

'Time management can help in resolving mothers problems'

The disturbed lives of mothers, badly affected by upbringing problems of children, home affairs and other responsibilities, can be made smooth by just following some rules of Time Management, said a research report of US organisation Moms Lifeline release
Published 01 May, 2009 12:00am
PTCL earns Rs 1, 909.018 million net profit

PTCL earns Rs 1, 909.018 million net profit

Pakistan Telecommunication Company Limited has earned Rs 1,909.018 million as profit after tax in the quarter ended March 31, 2009 as compared to Rs 2,977.335 million earned in the corresponding period in 2008. The board of directors of the company in its
Published 01 May, 2009 12:00am
PTCL earns Rs 1, 909.018 million net profit

PTCL earns Rs 1, 909.018 million net profit

Pakistan Telecommunication Company Limited has earned Rs 1,909.018 million as profit after tax in the quarter ended March 31, 2009 as compared to Rs 2,977.335 million earned in the corresponding period in 2008. The board of directors of the company in its
Published 01 May, 2009 12:00am
Aftab Memon appointed as new director general of PSQCA

Aftab Memon appointed as new director general of PSQCA

Engineer Aftab Ahmed Memon, an officer of District Management Group (DMG) has taken over as Director General, Pakistan Standards and Quality Control Authority (PSQCA) under Ministry of Science and Technology. Although a Mechanical Engineer, he also has de
Published 01 May, 2009 12:00am
Drain scheme not implemented even after five years

Drain scheme not implemented even after five years

The scheme to increase siphon capacity of German Dhoro drain under KB Feeder Upper, Thatta, could not be started after a lapse of four years due to negligence and ill- planning of Sindh government officials, it is learnt. The scheme was to be completed by
Published 01 May, 2009 12:00am
Food controllers directed to evaluate gunny bag stock position

Food controllers directed to evaluate gunny bag stock position

Director Food Punjab, Muhammad Sheharyar Sultan has directed the district food controllers of the province to personally evaluate the gunny bag stock position in their respective areas and report to the provincial department so as to avoid any sort of har
Published 01 May, 2009 12:00am
RGTF: a step in the right direction

RGTF: a step in the right direction

The Federal Board of Revenue (FBR) has proposed establishment of a special Revenue Generation Task Force (RGTF) as a part of its three-pronged strategy to improve tax collection in the short-term, says a Recorder Report.
Published 01 May, 2009 12:00am
Rice dealers seek government help

Rice dealers seek government help

Rice Dealers and Commission Agents Association of the Sheikhupura grain market have urged the federal and provincial government to help the rice dealers of their area who have been deprived of million of rupees by a group of people.
Published 01 May, 2009 12:00am
May Day thoughts

May Day thoughts

Once again, while May Day is being officially observed in Pakistan, as a holiday and mostly elsewhere in its traditional manner of glorifying sacrifice of mercilessly killed workers, in Chicago in early years of industrial revolution. It provided an oppor
Published 01 May, 2009 12:00am
Sanctioning of new sugar mills in Sindh: a recipe for disaster

Sanctioning of new sugar mills in Sindh: a recipe for disaster

On the morning of 23 April, a leading Sindhi newspaper carried the 'good' news that the Government of Sindh had issued NOCs for installation of six new sugar mills in the province. Another seven applications were under scrutiny. Four out of the six cleare
Published 01 May, 2009 12:00am
Improving our dry ports

Improving our dry ports

When the Islamabad/Rawalpindi Dry Port was inaugurated three years ago to replace the old one in Rawalpindi, the users expected it to be a modern, sate-of-the-art facility. It turned out to be quite the opposite. That came out clearly at Friday's meeting
Published 01 May, 2009 12:00am
Obama crosses 100 days seeking common ground on threats

Obama crosses 100 days seeking common ground on threats

President Barack Obama hopes the United States will still be able to bridge a growing partisan divide as he confronts a whole host of foreign and domestic crises that have only grown since he entered the White House. At a news conference Wednesday night t
Published 01 May, 2009 12:00am
Volatility seen for Vietnam's stocks

Volatility seen for Vietnam's stocks

Watching stock prices blinking on the wall of a Ho Chi Minh City brokerage, Nguyen Thi Minh Thu and the dozens of other private traders watch with alarm as the value of their investments falls. Investors in communist Vietnam's small stock market - one of
Published 01 May, 2009 12:00am
ANP's role

ANP's role

This is regarding the confusion prevailing over Army's role in Swat. In December 2007 Army did a 'textbook' operation in Swat which is still regarded as the most successful operation of Pak history. Maulvi Fazalullah and accomplices ran away like cowards
Published 01 May, 2009 12:00am
Change is needed

Change is needed

Whichever channel you may like these days to watch, there may have been going on some talk shows or special programs on it about Taliban and other militants in Pakistan, Swat and other parts of the country, including Buner. It appears that these channels
Published 01 May, 2009 12:00am
Hyderabad Jail inmates take 23 officials hostage

Hyderabad Jail inmates take 23 officials hostage

Just 12 days after the riots in Central Prison Hyderabad, wherein five guards were taken hostage, the inmates again took hold of administration block and made hostage 23 staff members including clerks and policemen on Thursday to protest shifting of one o
Published 01 May, 2009 12:00am
CSDO Sialkot, Unicef ink deal on child protection

CSDO Sialkot, Unicef ink deal on child protection

Child and Social Development Organisation (CSDO) Sialkot signed a Project Co-ordination Agreement (PCA) with Unicef for the protection of children from hazardous occupations in Sialkot and adjoining districts in a joint meeting held on Thursday at CSDO of
Published 01 May, 2009 12:00am
Jehangir Badar meets Sindh chief minister

Jehangir Badar meets Sindh chief minister

The PPP Secretary General Jehangir Badar, met Sindh Chief Minister and President PPP Sindh, Syed Qaim Ali Shah at Chief Minister House here on Wednesday night. On the occasion Jehangir Badar paid tributes to Chief Minister for his services for the party a
Published 01 May, 2009 12:00am
PML-N calls for national unity to foil conspiracies

PML-N calls for national unity to foil conspiracies

Additional Secretary General of Pakistan Muslim League (Nawaz) and former Deputy Speaker of National Assembly Chaudhry Jaffer Iqbal has said that conspiracies are being hatched against Pakistan and if the nation forges unity in its ranks, there will no th
Published 01 May, 2009 12:00am
Ninth convocation of Balochistan University held

Ninth convocation of Balochistan University held

Governor Balochistan Nawab Zulfikar Ali Magsi on Thursday said that the fast changing world was no more friendly to those nations, who do not value knowledge. Addressing the students and faculty members after awarding degrees to the graduate at 9th convoc
Published 01 May, 2009 12:00am
Tajikistan transit trade: LCCI for effective steps to check smuggling

Tajikistan transit trade: LCCI for effective steps to check smuggling

The Pakistan government needs to adopt safety measures and make necessary arrangements for strict monitoring so that the transit trade facility likely to be offered to Tajikistan in near future, may not become another source of smuggling like the Afghan T
Published 01 May, 2009 12:00am
PIA ERC activates call centre

PIA ERC activates call centre

PIA Emergency Response Centre ERC has activated its Call Centre with telephone numbers: (021) 9924-2332 and 9924-2352 during office hours from 9:00am till 5:00pm for the information or queries regarding swine flu or in case a passenger is quarantined at a
Published 01 May, 2009 12:00am
Shahbaz reviews wheat procurement drive

Shahbaz reviews wheat procurement drive

A high level meeting chaired by Chief Minister Punjab Muhammad Shahbaz Sharif reviewed the ongoing wheat procurement drive and supply of gunny bags to the farmers. A number of important decisions were taken during the meeting. Chief Minister issued instru
Published 01 May, 2009 12:00am
TDAP to send trade team to South Korea and Japan

TDAP to send trade team to South Korea and Japan

Trade Development Authority of Pakistan (TDAP) will send a trade delegation to explore South Korean and Japanese markets in the middle of the May, sources in the Lahore office of the TDAP told Business Recorder on Thursday. Sources said that eight
Published 01 May, 2009 12:00am
Blind dolphins face hazardous existence

Blind dolphins face hazardous existence

Nazir Mirani, 47, is the third generation of a humble family committed to saving blind dolphins, an endangered species swimming against a tide of man-made hazards. "I treat them as my children and do everything whenever a dolphin is trapped in shallow wat
Published 01 May, 2009 12:00am
Pakistan seeks Pata's role in promoting tourism

Pakistan seeks Pata's role in promoting tourism

Pakistan has sought the co-operation of Pacific Asia Travel Association (Pata) to help rescue its sinking tourism industry that suffered massive blows following 9/11 as well War Against Terrorism - the two prime factors that played havoc with country's en
Published 01 May, 2009 12:00am
Government urged to start workers' social security programmes

Government urged to start workers' social security programmes

Pakistan Institute of Labour Education and Research (PILER) has urged the government to start social security programmes to protect and facilitate workers in the country. The institute also appealed for raising the minimum wage of Rs 6000 for the most vul
Published 01 May, 2009 12:00am
Clarification

Clarification

Apropos an article "Need for a deep water Act" by Captain Anwar Shah, carried by Business Recorder on 28th April, DP World, Karachi, has clarified that it has no plans of backing out of the QICT Container Terminal 2 project and that project work is
Published 01 May, 2009 12:00am
Complete strike observed in IHK

Complete strike observed in IHK

Complete strike was observed on the occasion of the third phase of Indian Parliamentary elections in occupied Kashmir, on Thursday. Call for the strike has been given by Chairman of All Parties Hurriyat Conference Mirwaiz Umar Farooq and senior Kashmiri H
Published 01 May, 2009 12:00am
CAA takes preventive measure against swine flu

CAA takes preventive measure against swine flu

Civil Aviation Authority (CAA) has set up a special center at Peshawar Airport as a preventive measure to block transmission of swine virus by undertaking medical examination of passengers arriving through international flights. "We have made arrangements
Published 01 May, 2009 12:00am
Girl's school blown up in Bannu

Girl's school blown up in Bannu

Unknown miscreants on Thursday blown up another girl's school with explosives causing no human loss while completely destroying the building of the school. According to police unknown saboteurs planted explosives in the building of Government Girls High S
Published 01 May, 2009 12:00am
British NGO announces mass welfare plan for AJK

British NGO announces mass welfare plan for AJK

UK-based NGO Hamara Healthy Living Centre, Leeds, here Thursday announced a proposed broad-based phased mass welfare plan for AJK through the dispensation of services to the needy in Health and Education sectors.
Published 01 May, 2009 12:00am
Doctors call for proper care towards MDR - tuberculosis cases

Doctors call for proper care towards MDR - tuberculosis cases

Pakistanis aged between 15 to 59 years mainly constitute the annually estimated 15,000 new cases of multi drug resistant (MDR) tuberculosis in the country. Programme Manager, National TB Control Programme, Dr Noor Ahmed Baloch, speaking at the groundbreak
Published 01 May, 2009 12:00am
Camps being set up for Buner IDPs

Camps being set up for Buner IDPs

To provide provisional stay to internally displaced persons repatriating from war-turned Buner district, Al-Khidmat Foundation has set-up a relief camp at Chota Lahore near Sawabi to send them to transit relief camps at Bilo Dhand Salim Khan, Naranji and
Published 01 May, 2009 12:00am
Bodies of Pakistani victims of boat tragedy to return on May 3

Bodies of Pakistani victims of boat tragedy to return on May 3

The Pakistan High Commission on Thursday finalised arrangements to send back home the bodies of six Pakistanis who lost their lives when their boat capsized near Johor Baru 300 Km on April 28. The High Commission has issued emergency passport of the fourt
Published 01 May, 2009 12:00am
Staff's contribution towards smooth supply of electricity lauded

Staff's contribution towards smooth supply of electricity lauded

Chief Executive Pesco Muhammad Qasim Khan has said that staffs of the company are precious asset who are rendering remarkable services to keep smooth and uninterrupted power supply to the consumers and provision of electricity to every nook and corner of
Published 01 May, 2009 12:00am
US MIDDAY: copper gains

US MIDDAY: copper gains

US copper futures gained ground at the open on Thursday as rising equity markets and falling inventories buoyed sentiment, but a rebound in the dollar and investor caution ahead of next week's bank stress test results capped the advance.
Published 01 May, 2009 12:00am
US MIDDAY: gold drops two percent

US MIDDAY: gold drops two percent

US gold futures dropped nearly 2 percent on Thursday as a Wall Street rally prompted profit taking, while an imminent bankruptcy filing by US automaker Chrysler should not affect platinum group metals demand, traders said.
Published 01 May, 2009 12:00am
US MIDDAY: coffee, cocoa down

US MIDDAY: coffee, cocoa down

Arabica coffee futures eased early Thursday, on pressure from the commodity complex, while US cocoa futures reversed down on the heels of the weak pound, traders said. Arabica coffee for July delivery down 1.35 cents at $1.1515 per lb. by 9:16 a.m. EDT (1
Published 01 May, 2009 12:00am
US MIDDAY: sugar firms

US MIDDAY: sugar firms

Raw sugar futures on ICE Futures US at 1142 GMT. July raw sugar contract increased 0.13 cent to 14.21 cents per lb. Dealing from 14.04 to 14.24 cents. Volume in July contract at 9,789 lots.
Published 01 May, 2009 12:00am
US MIDDAY: soya jumps; corn, wheat up

US MIDDAY: soya jumps; corn, wheat up

Chicago Board of Trade soyabeans rallied early Thursday, led by spot May which surpassed its 200-day moving average amid strong weekly export data, traders said.
Published 01 May, 2009 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold fell nearly 2 percent in Europe on Thursday as disappointment over its failure to hold above $900 an ounce and the dollar's turn higher against the euro sparked fund selling of the precious metal. A recovery in the stock markets is also denting inter
Published 01 May, 2009 12:00am
Sugar rises in London

Sugar rises in London

Sugar futures rose on Thursday, boosted by a slightly weaker dollar and end-month fund buying with traders focused on the expiry of May raws on ICE. Cocoa prices were lower, with improving prospects for crops in West Africa weighing on the market, while c
Published 01 May, 2009 12:00am
Oil edges higher

Oil edges higher

Oil rose on Thursday as reassuring US jobs data and upbeat corporate profits lifted stocks outweighed rising energy inventories and slumping demand. US crude rose 15 cents to settle at $51.12 a barrel. Brent crude rose 2 cents to settle at $50.80 a barrel
Published 01 May, 2009 12:00am
Copper climbs 3.3 percent

Copper climbs 3.3 percent

Copper climbed 3.3 percent to its highest in a week on Thursday, as rising equities aided sentiment while persistent falls in copper inventories raised expectations of further Chinese buying ahead. Copper for three-months delivery on the London Metal Exch
Published 01 May, 2009 12:00am
FTSE 100 posts biggest monthly rise since April 2003

FTSE 100 posts biggest monthly rise since April 2003

Britain's FTSE 100 index rose 1.3 percent on Thursday to post its biggest monthly rise since 2003 on hopes of brightening global economic prospects, with financials and miners the leading gainers. The UK benchmark closed 54.12 points higher at 4,243.71, a
Published 01 May, 2009 12:00am
Italy backs idea of new currency

Italy backs idea of new currency

Italian Economy Minister Giulio Tremonti backed on Thursday the idea of a new global currency for international transactions, while keeping existing currencies for domestic use. Tremonti applauded a proposal made last month by China's central bank governo
Published 01 May, 2009 12:00am
New York cotton settles at 6-1/2-month high

New York cotton settles at 6-1/2-month high

Cotton futures ended at a 6-1/2-month high on Thursday due to all-around buying, but analysts feel the market's advance could slow down because it is a bit overbought, brokers said. The most-active July cotton contract climbed 1.01 cents to close at 54.35
Published 01 May, 2009 12:00am
Singapore shares jump 3.82 percent

Singapore shares jump 3.82 percent

Singapore shares soared 3.82 percent Thursday, lifted by a surge on Wall Street and other regional markets on signs the worst for the global economy may be over, analysts said. The blue chip Straits Times Index jumped 70.71 points to 1,920.28 on volume of
Published 01 May, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 2.41 percent on Thursday led by gains in property, construction and plantation stocks, dealers said. The Kuala Lumpur Composite Index gained 23.28 points to 990.74, with gainers outnumbering losers 535 to 131. Dealers said the m
Published 01 May, 2009 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 2.06 percent higher on Thursday, lifted by the upturn in overseas markets, dealers said. The composite index gained 42.45 points to 2,103.50 points while the all-shares index gained 1.40 percent to 1,359.78 points. There we
Published 01 May, 2009 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads tightened on Thursday, tracking a jump in equity markets as the preponderance of corporate earnings met or beat expectations and US data indicated the potential for the economy to recover. By 1050 GMT, the investment-grade Markit i
Published 01 May, 2009 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads tightened on Thursday, tracking a jump in equity markets as the preponderance of corporate earnings met or beat expectations and US data indicated the potential for the economy to recover. By 1050 GMT, the investment-grade Markit i
Published 01 May, 2009 12:00am
Thursday's early afternoon trade: Nasdaq up; Dow, S&P down

Thursday's early afternoon trade: Nasdaq up; Dow, S&P down

The Nasdaq rose on Thursday while the Dow industrials and S&P 500 declined as upbeat corporate profits and reassuring job market data offset investors' anxiety about Chrysler's bankruptcy filing. Uneasiness about the major US automaker's bankruptcy wiped
Published 01 May, 2009 12:00am
Asian bond spreads stay narrow

Asian bond spreads stay narrow

Asian bond spreads narrowed for a second straight session on Thursday, as investors cheered the Federal Reserve's upbeat assessment of the US economy, boding well for Asia's export-driven economies. The US economic contraction appears to be slowing, the F
Published 01 May, 2009 12:00am
Asian bond spreads stay narrow

Asian bond spreads stay narrow

Asian bond spreads narrowed for a second straight session on Thursday, as investors cheered the Federal Reserve's upbeat assessment of the US economy, boding well for Asia's export-driven economies. The US economic contraction appears to be slowing, the F
Published 01 May, 2009 12:00am
Indian markets closed

Indian markets closed

Indian stocks, bond and currency markets are closed on Thursday and Friday for local holidays. Trading resumes on Monday.
Published 01 May, 2009 12:00am
Indian markets closed

Indian markets closed

Indian stocks, bond and currency markets are closed on Thursday and Friday for local holidays. Trading resumes on Monday.
Published 01 May, 2009 12:00am
Yen and dollar fall broadly in London

Yen and dollar fall broadly in London

The dollar and the yen fell broadly on Thursday as growing hopes that the global economy may be over the worst of the recession diminished the attraction of those currencies perceived to be safer assets. Investors took heart from Wednesday's Federal Reser
Published 01 May, 2009 12:00am
Mexican president asks citizens to stay home May 1-5

Mexican president asks citizens to stay home May 1-5

Mexico's president ordered a partial economic shutdown to slow the spread of the swine flu virus as officials urged increased precautions against an imminent pandemic. One day after the WHO warned that the world was on the brink of a global outbreak of th
Published 01 May, 2009 12:00am
Sterling gains versus dollar

Sterling gains versus dollar

Sterling rose to a two-week high against the dollar on Thursday as risk appetite resumed and share prices gained. An improvement in British consumer confidence had pushed the pound sharply higher but it was kept in check by news that US automaker Chrysler
Published 01 May, 2009 12:00am
Nato expels two Russian envoys, raps pact on Georgia

Nato expels two Russian envoys, raps pact on Georgia

Nato has expelled two Russian diplomats over a spy scandal, a move Moscow's ambassador said was intended to set back efforts by Russia and the United States to repair relations. Tensions between the former Cold War foes also rose on Thursday over pacts wh
Published 01 May, 2009 12:00am
Sri Lanka rejects ceasefire

Sri Lanka rejects ceasefire

Sri Lanka President Mahinda Rajapaksa said on Thursday his government had no intention of a ceasefire with Tamil Tiger rebels, telling international critics the military's actions constituted a "humanitarian operation". Sri Lanka has been under fresh pres
Published 01 May, 2009 12:00am
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