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Sep 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-05-05
Karzai registers for re-election

Karzai registers for re-election

Afghan President Hamid Karzai formally registered Monday to stand for re-election in August but sparked international dismay by picking a controversial warlord as one of his two running mates. Karzai signed up for the August 20 poll at the offices of the
Published 05 May, 2009 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against the dollar on Monday, dented by caution ahead of a Bank of England policy meeting later this week, with trade thin and volatile due to London markets being closed for a public holiday. With Thursday's BoE meeting looming, analysts sa
Published 05 May, 2009 12:00am
28 pilgrims killed in Iran bus accident

28 pilgrims killed in Iran bus accident

At least 28 Iranian pilgrims were killed when a bus heading to neighbouring Iraq crashed into a residential building in a town near the border on Monday, the state broadcaster said. "Twenty-eight people were killed in this accident and nine were seriously
Published 05 May, 2009 12:00am
Tropical storm kills 11 in India

Tropical storm kills 11 in India

At least 11 people were killed and 25 injured when a tropical storm swept through a large portion of India's West Bengal state, officials said Monday. The 10-minute storm carried winds of over 80 kilometres (50 miles) an hour through the state, destroying
Published 05 May, 2009 12:00am
South Korea saves North ship from Somali pirates

South Korea saves North ship from Somali pirates

A South Korean naval helicopter fended off pirates trying to attack a North Korean ship off Somalia early Monday, military officials in Seoul said. The 6,399-ton ship Dabaksol was about 96 kilometres (58 miles) from a South Korean destroyer when it sent a
Published 05 May, 2009 12:00am
Landslides, floods kill 20 in Philippines

Landslides, floods kill 20 in Philippines

Flash floods and landslides triggered by heavy rains dumped by a typhoon have killed 20 people and left three missing in the Philippines, the country's disaster agency said on Monday. The weather bureau said Typhoon Kujira was centered off the coast of th
Published 05 May, 2009 12:00am
War crimes court rejects Taylor acquittal bid

War crimes court rejects Taylor acquittal bid

Former Liberian president Charles Taylor lost a bid Monday for his acquittal on war crimes charges in the Special Court for Sierra Leone, which set June 29 as the date for the start of his defence case. "The (trial) chamber ... dismisses the defence's sub
Published 05 May, 2009 12:00am
Fox sues Bollywood studio for 'plagiarism'

Fox sues Bollywood studio for 'plagiarism'

US studio 20th Century Fox is seeking damages and an injunction against the release of a Hindi-language film in the latest plagiarism row between Hollywood and Bollywood, a report said Monday. Fox has submitted a claim at the Bombay High Court for 70 mill
Published 05 May, 2009 12:00am
Sudan and Chad in fence-mending deal

Sudan and Chad in fence-mending deal

Sudan and Chad have struck a deal to end hostilities and arrange a summit between their leaders in a move seen as vital for peace-making efforts in Darfur. "The agreement stipulates the halting of hostilities, and everyone is now looking to the future, es
Published 05 May, 2009 12:00am
Australia delays carbon trade, may toughen target

Australia delays carbon trade, may toughen target

Australia's government put back its much-vaunted carbon-emissions trading scheme by a year on Monday, bowing to industry demands for more relief amid a recession while opening the door to an even deeper long-term reduction. Lacking the political backing t
Published 05 May, 2009 12:00am
27 killed in series of Afghanistan attacks

27 killed in series of Afghanistan attacks

At least 27 people, most of them civilians and one a provincial mayor, were killed in a spate of attacks in Afghanistan on Monday, officials said. In the bloodiest incident on Monday, 12 civilians - four women, two children and six men - were killed by a
Published 05 May, 2009 12:00am
Mexico feels relief as flu epidemic seen declining

Mexico feels relief as flu epidemic seen declining

Mexico said it was winning the battle against a deadly new strain of flu as it stayed largely shut for business and cases dropped but global health officials warned against complacency. World Health Organisation chief Dr Margaret Chan said the news from M
Published 05 May, 2009 12:00am
US seeks to reassure Arabs on diplomacy with Iran: Gates

US seeks to reassure Arabs on diplomacy with Iran: Gates

US Defence Secretary Robert Gates said on Sunday he will seek to reassure Saudi and Egyptian leaders this week that Washington's diplomatic approach to Iran will not jeopardise long-standing ties to Arab states in the region.
Published 05 May, 2009 12:00am
Britain confirms nine more cases

Britain confirms nine more cases

Britain confirmed nine new cases of the H1N1 flu strain on Monday, bringing the total across the country to 27, the government's Health Protection Agency (HPA) said. Five of the new confirmed cases were children who all attended the same south east London
Published 05 May, 2009 12:00am
Flu fears prompt 20 countries to ban meat imports

Flu fears prompt 20 countries to ban meat imports

Twenty countries world-wide have banned imports of pork and other meat in response to a flu virus that has infected both people and swine, according to documents from the World Health Organisation. While the new H1N1 strain is not food-borne, fears that i
Published 05 May, 2009 12:00am
Indonesian anti-graft chief arrested

Indonesian anti-graft chief arrested

Indonesia's anti-graft chief was arrested Monday for allegedly masterminding the murder of a company executive, in a case that has rattled the country's efforts to fight corruption. Corruption Eradication Commission (KPK) head Antasari Azhar was declared
Published 05 May, 2009 12:00am
World Table Tennis: China to take all five titles

World Table Tennis: China to take all five titles

Powerhouse China, led by world number ones Wang Hao and Zhang Yining, ensured they will again be taking all the titles at the World Table Tennis Championships on Monday. Men's number one Wang brushed aside Ma Long 12-10, 11-8, 10-12, 11-9, 11-9 to set up
Published 05 May, 2009 12:00am
United showdown is no mission impossible, says Wenger

United showdown is no mission impossible, says Wenger

Arsene Wenger expects Arsenal to sweep Manchester United aside with the performance of a lifetime in Tuesday's Champions League semi-final showdown. Wenger's side trail 1-0 from the first leg after a lacklustre display at Old Trafford last week and will b
Published 05 May, 2009 12:00am
I'm the best despite the rankings: Serena

I'm the best despite the rankings: Serena

Serena Williams still rates herself as the best player in the world even though she has been toppled from the top spot by Russia's Dinara Safina. "We all know who the real number one is," Williams told a news conference at the Italian Open on Monday. "Qui
Published 05 May, 2009 12:00am
Pakistan name uncapped pair in Twenty20 squad

Pakistan name uncapped pair in Twenty20 squad

Pakistan named uncapped left-arm pace bowler Mohammad Aamir and hard-hitting opener Shahzaib Hasan in their squad on Monday for next month's Twenty20 World Cup. The selectors omitted Indian Cricket League rebel players Abdul Razzaq, Imran Nazir and Rana N
Published 05 May, 2009 12:00am
Pakistan to play next Test series in neutral countries

Pakistan to play next Test series in neutral countries

Pakistan said Monday they will play their next two home Test series in neutral countries, as foreign teams continue to stay away over security fears, and are considering playing in the United Arab Emirates. Pakistan Cricket Board (PCB) chief operating off
Published 05 May, 2009 12:00am
Bangladesh pick two new caps for Twenty20 team

Bangladesh pick two new caps for Twenty20 team

Bangladesh included two uncapped players in their 15-man squad for next month's Twenty20 World Cup in England on Monday. Middle order batsman Shamsur Rahman and wicketkeeper/batsman Mohammad Mithun were included for their consistent performances in the do
Published 05 May, 2009 12:00am
India go for form players for World Twenty20

India go for form players for World Twenty20

India on Monday rewarded Rudra Pratap Singh and Pragyan Ojha for their recent good form by picking them in a 15-man squad to defend the World Twenty20 title in England next month. Left-arm seamer Singh, who last donned India colours against England in Nov
Published 05 May, 2009 12:00am
Sri Lanka pick rookie Udana for Twenty20

Sri Lanka pick rookie Udana for Twenty20

Sri Lanka on Monday named uncapped all-rounder Isuru Udana for next month's World Twenty20 championships in England as Kumar Sangakkara assumed charge as captain. The June 5-21 event will be Sri Lanka's first official tournament since the team was attacke
Published 05 May, 2009 12:00am
Pakistan greats rue missed Aussie opportunity

Pakistan greats rue missed Aussie opportunity

Former Pakistan greats on Monday lamented their team's 3-2 series defeat to an out-of-form and under-strength Australia as a great opportunity missed to restore faith in the game back home. Cricket has been in the doldrums in the South Asian country after
Published 05 May, 2009 12:00am
South Africa pick Botha in Twenty20 squad

South Africa pick Botha in Twenty20 squad

Johan Botha, reported last month for a suspect bowling action, was included as vice-captain when South Africa named their squad on Monday for the Twenty20 World Cup in England in June. The off-spinner was reported by the umpires after the fourth one-day i
Published 05 May, 2009 12:00am
Sharjah ditch Asian Champions League

Sharjah ditch Asian Champions League

United Arab Emirates side Sharjah Sports Club have withdrawn from the Asian Champions League in an effort to avoid relegation from the country's top flight. Sharjah, who qualified via playoffs, informed the Asian Football Confederation (AFC) they were pul
Published 05 May, 2009 12:00am
Play well or quit, Dinara tells brother Safin

Play well or quit, Dinara tells brother Safin

Marat Safin should put his whole heart into playing tennis or quit, his top-ranked sister Dinara Safina advised on Monday. Former world number one Safin has failed to win back-to-back matches in nine of his last 10 tournaments, often perishing despite bei
Published 05 May, 2009 12:00am
Yuan at eight-month high

Yuan at eight-month high

The yuan reached its highest level against the dollar in eight months in the benchmark offshore non-deliverable forwards (NDFs) on Monday after the Chinese central bank signalled once again its intention to allow the yuan to appreciate slightly. The Peopl
Published 05 May, 2009 12:00am
Australian dollar at seven-month peaks

Australian dollar at seven-month peaks

The Australian dollar rose to seven-month highs against the US dollar and yen on Monday as a seemingly brighter outlook for the world economy raised bids for riskier assets. The Aussie jumped to as high as $0.7388, a level last seen on October 6, and rose
Published 05 May, 2009 12:00am
Asian currencies: high-yielding rupiah jumps in trade

Asian currencies: high-yielding rupiah jumps in trade

The high-yielding Indonesian rupiah led Asian currencies higher on Monday as investors' appetite for riskier assets rose due to tentative signs that the global economy was improving. Asian stocks hit a seven-month high as a survey on China's factories off
Published 05 May, 2009 12:00am
Hong Kong dollar remains strong

Hong Kong dollar remains strong

The Hong Kong dollar stayed close to its upper trading band against the US dollar on Monday, while interbank rates extended their fall due to abundant liquidity in the banking system. The local currency traded between 7.7500 and 7.7504 to the US dollar on
Published 05 May, 2009 12:00am
Dollar and yen down across board

Dollar and yen down across board

The yen and the dollar fell on Monday, hitting seven-month lows against the Australian dollar as investor confidence about the global economy encouraged buying of commodity-related currencies. With Tokyo markets shut until Thursday for the Golden Week hol
Published 05 May, 2009 12:00am
Taiwan dollar at four-month high

Taiwan dollar at four-month high

The Taiwan dollar closed at a near four-month high on Monday due to warming trade ties with China and as signs that the worst might be over for the global economy pushed up the island's financial markets. The Taiwan dollar ended the session at T$33.192 to
Published 05 May, 2009 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc slipped against the euro and was slightly firmer against the dollar on Monday in lacklustre trading ahead of March purchasing managers' index data for the manufacturing sector. The Swiss PMI reading is expected to come in at 33.8 according
Published 05 May, 2009 12:00am
Chinese stock surges

Chinese stock surges

Chinese stocks surged 3.32 percent in a broad rally to a nine-month closing high on Monday, boosted by rising confidence in the economic outlook after new data for April suggested the manufacturing sector was improving. The Shanghai Composite Index ended
Published 05 May, 2009 12:00am
Taiwan shares up 5.64 percent

Taiwan shares up 5.64 percent

Taiwan stocks jumped 5.64 percent on Monday in active trade to a 7-1/2-month closing high, with financial shares including Cathay Financial leading gains on hopes of an influx of Chinese investments. The main TAIEX share index ended 337.83 points higher a
Published 05 May, 2009 12:00am
Indonesian shares climb

Indonesian shares climb

Indonesian shares ended 3.39 percent higher Monday spurred by expectations of interest rate cuts by the central bank and positive first-quarter earnings reports, dealers said. The Jakarta Composite Index gained 58.57 points to 1788.15. "Most of the listed
Published 05 May, 2009 12:00am
Philippines shares price higher

Philippines shares price higher

Philippine share prices closed 1.6 percent higher on Monday as investors bought into blue chip stocks, dealers said. The composite index rose 34.12 points to close at 2,137.62 while the all-shares index put on 1.1 percent at 1,374.91. A total of 2.29 bill
Published 05 May, 2009 12:00am
Hong Kong shares drive to months peak

Hong Kong shares drive to months peak

Hong Kong shares advanced 5.5 percent on Monday in huge turnover, sending the main index to its highest level since mid-October 2008, as data from China and the US suggested the global economy was on the mend. Coal and steel stocks rallied strongly after
Published 05 May, 2009 12:00am
Swiss PMI posts first rise in 16-month

Swiss PMI posts first rise in 16-month

Switzerland's Purchasing Managers' Index (PMI) rose for the first time in over a year in April, a first sign that a steep drop in manufacturing may be nearing a bottom. The Credit Suisse-SVME purchasing managers' index rose to 34.7 points, up from the rec
Published 05 May, 2009 12:00am
Singapore shares price end higher

Singapore shares price end higher

Singapore shares soared 5.65 percent to their highest level in nearly seven months Monday, buoyed by signs the worst may be over for the US economy, the city-state's biggest market. The blue chip Straits Times Index (STI) rocketed 108.43 points to 2,028.7
Published 05 May, 2009 12:00am
South Korean bond prices down

South Korean bond prices down

South Korean government bond prices extended steep falls for a third consecutive session on Monday, with signs of economic improvement driving domestic shares to a fresh seven-month peak and the won currency higher. Bond futures tumbled on heavy selling f
Published 05 May, 2009 12:00am
South Korean bond prices down

South Korean bond prices down

South Korean government bond prices extended steep falls for a third consecutive session on Monday, with signs of economic improvement driving domestic shares to a fresh seven-month peak and the won currency higher. Bond futures tumbled on heavy selling f
Published 05 May, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Monday, as investors found comfort in data showing that US consumers were more upbeat about the economy, but caution capped gains ahead of the release of jobs figures later this week. The Reuters-University of Michigan surve
Published 05 May, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Monday, as investors found comfort in data showing that US consumers were more upbeat about the economy, but caution capped gains ahead of the release of jobs figures later this week. The Reuters-University of Michigan surve
Published 05 May, 2009 12:00am
China's bond yields curve flatter

China's bond yields curve flatter

China's bill and bond curve flattened slightly on Monday after forecasts showed a mixed picture for second quarter economic data, suggesting the economic recovery may not be strong enough for a major tightening of monetary policy. Brokerage CLSA said on M
Published 05 May, 2009 12:00am
China's bond yields curve flatter

China's bond yields curve flatter

China's bill and bond curve flattened slightly on Monday after forecasts showed a mixed picture for second quarter economic data, suggesting the economic recovery may not be strong enough for a major tightening of monetary policy. Brokerage CLSA said on M
Published 05 May, 2009 12:00am
Emerging Markets: rate cuts in Chile, Peru; Brazil COPOM minutes

Emerging Markets: rate cuts in Chile, Peru; Brazil COPOM minutes

Chile and Peru will likely stimulate their economies with additional interest rate cuts this week, while Brazil is expected to hint on how much more monetary policy easing the central bank can afford in the next few months. Chile's central bank is expecte
Published 05 May, 2009 12:00am
Emerging Markets: rate cuts in Chile, Peru; Brazil COPOM minutes

Emerging Markets: rate cuts in Chile, Peru; Brazil COPOM minutes

Chile and Peru will likely stimulate their economies with additional interest rate cuts this week, while Brazil is expected to hint on how much more monetary policy easing the central bank can afford in the next few months. Chile's central bank is expecte
Published 05 May, 2009 12:00am
Seoul shares hit seven-month high

Seoul shares hit seven-month high

Seoul shares rose 2 percent on Monday, hitting a fresh seven-month high, as financial stocks rallied and the won's strength fuelled interest in sectors that had been pounded by currency risks. Shipbuilders rose on expectations that the battered industry w
Published 05 May, 2009 12:00am
Czechs sets 22-billion crowns bond tenders

Czechs sets 22-billion crowns bond tenders

The Czech Finance Ministry will offer 22 billion crowns ($1.10 billion) worth of state bonds in three auctions in June, the ministry said on Monday. The plan shows the government is willing to continue strong issuance after a 1.5 billion euro bond priced
Published 05 May, 2009 12:00am
Czechs sets 22-billion crowns bond tenders

Czechs sets 22-billion crowns bond tenders

The Czech Finance Ministry will offer 22 billion crowns ($1.10 billion) worth of state bonds in three auctions in June, the ministry said on Monday. The plan shows the government is willing to continue strong issuance after a 1.5 billion euro bond priced
Published 05 May, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 1.88 percent Monday amid a surge in buying interest and gains in regional markets, dealers said. The Kuala Lumpur Composite Index gained 18.62 points to 1,009.36, reaching a high for 2009. Gainers outnumbered losers 536 to 153.
Published 05 May, 2009 12:00am
Sprint sees strong growth in prepaid subscribers

Sprint sees strong growth in prepaid subscribers

Sprint Nextel Corp posted a surprise quarterly profit excluding items, thanks to cost cuts and strong growth in a new service where customers pay for calls in advance, sending its shares up 16 percent. However, the No 3 US mobile service suffered its wors
Published 05 May, 2009 12:00am
Mexico economy to shrink four percent

Mexico economy to shrink four percent

Analysts watching Mexico's economy forecast a 4.0 percent contraction in 2009 gross domestic product, sharper than expected previously, according to a monthly survey by the central bank released on Monday. Mexico's economy has tumbled into recession on a
Published 05 May, 2009 12:00am
Sprint sees strong growth in prepaid subscribers

Sprint sees strong growth in prepaid subscribers

Sprint Nextel Corp posted a surprise quarterly profit excluding items, thanks to cost cuts and strong growth in a new service where customers pay for calls in advance, sending its shares up 16 percent. However, the No 3 US mobile service suffered its wors
Published 05 May, 2009 12:00am
Slovak state budget gap widens as economy brakes

Slovak state budget gap widens as economy brakes

Slovakia's central state budget gap swelled to 347.4 million euros ($462 million) in the first four months of the year, data showed on Monday, confirming a deteriorating fiscal position as economic slowdown curbs state revenues. Slovakia, which adopted th
Published 05 May, 2009 12:00am
Australian house price plunge roils rate debate

Australian house price plunge roils rate debate

Australian house prices fell at the fastest pace in at least six years last quarter, while a record drop in job advertisements pointed to yet higher unemployment, reviving pressure for a cut in interest rates this week. The Reserve Bank of Australia (RBA)
Published 05 May, 2009 12:00am
New Zealand farmer confidence eases in first quarter

New Zealand farmer confidence eases in first quarter

Confidence among New Zealand's farmers slipped further in the first quarter, as global recession and falling commodity prices weighed on sentiment, a survey showed on Monday. The Rabobank survey of 450 farmers showed a net 6 percent respondents believed t
Published 05 May, 2009 12:00am
Contacts, experience to aid Turkey's new economy tsar

Contacts, experience to aid Turkey's new economy tsar

The main change expected from the return of Ali Babacan as economy minister will not be on policy but that he will have the ear of Prime Minister Tayyip Erdogan - golden in Turkish politics where such ties are key. Struggling to tackle a recession, record
Published 05 May, 2009 12:00am
Vietnam central bank to maintain easing bias

Vietnam central bank to maintain easing bias

Vietnam will maintain an easing bias in its monetary policy to support the government's efforts to boost the economy, while keeping prices and interest rates stable, the central bank governor said on Monday. The central bank will also maintain flexibility
Published 05 May, 2009 12:00am
Philippines June inflation seen below one percent

Philippines June inflation seen below one percent

Philippines inflation will fall to its lowest in over 22 years at less than 1 percent in June to account for rapid falls in commodity prices in the past year, a senior central bank official said on Monday. A stream of comments from policy makers in recent
Published 05 May, 2009 12:00am
Indonesian president sees 4-4.5 percent growth

Indonesian president sees 4-4.5 percent growth

Indonesian President Susilo Bambang Yudhoyono said on Monday that the country is expected to post economic growth of between 4-4.5 percent this year, which he said "looks good." That is more optimistic that the central bank, which has forecast growth of 3
Published 05 May, 2009 12:00am
Clashes flare in Mingora

Clashes flare in Mingora

Clashes flared late Monday between security forces and militants in Mingora, where a truce and peace agreement have largely held for three months, officials said. Militants attacked two police stations and a power grid in Mingora, the main town in the sce
Published 05 May, 2009 12:00am
India to auction $2.4 billion of bonds

India to auction $2.4 billion of bonds

India will auction 120 billion rupees ($2.4 billion) of bonds on May 8, the finance ministry said in a statement on Monday. The government said it would offer 60 billion rupees worth of 6.05 percent 2019 bonds, and 30 billion rupees each of 8.24 percent 2
Published 05 May, 2009 12:00am
Clashes flare in Mingora

Clashes flare in Mingora

Clashes flared late Monday between security forces and militants in Mingora, where a truce and peace agreement have largely held for three months, officials said. Militants attacked two police stations and a power grid in Mingora, the main town in the sce
Published 05 May, 2009 12:00am
India to auction $2.4 billion of bonds

India to auction $2.4 billion of bonds

India will auction 120 billion rupees ($2.4 billion) of bonds on May 8, the finance ministry said in a statement on Monday. The government said it would offer 60 billion rupees worth of 6.05 percent 2019 bonds, and 30 billion rupees each of 8.24 percent 2
Published 05 May, 2009 12:00am
US senators present Pakistan aid bill

US senators present Pakistan aid bill

The Kerry-Lugar bill, a legislation which would triple non-military aid to Pakistan for the next one decade, was presented in the US Senate on Monday, Aaj TV reported. The bill has been jointly tabled by Senator John Kerry, who head the power Forei
Published 05 May, 2009 12:00am
Brazil April trade surplus up more than forecast

Brazil April trade surplus up more than forecast

Brazil posted a trade surplus of $3.7 billion in April, compared with a surplus of $1.77 billion in March, the trade ministry said on Monday. The surplus was higher than the $3.2 billion median estimate of 15 economists in a Reuters survey. The estimates
Published 05 May, 2009 12:00am
US senators present Pakistan aid bill

US senators present Pakistan aid bill

The Kerry-Lugar bill, a legislation which would triple non-military aid to Pakistan for the next one decade, was presented in the US Senate on Monday, Aaj TV reported. The bill has been jointly tabled by Senator John Kerry, who head the power Forei
Published 05 May, 2009 12:00am
Fiat chief executive seeks backing for new auto empire

Fiat chief executive seeks backing for new auto empire

The head of Italy's Fiat has outlined an "interesting" plan to create Europe's biggest car maker but will need 5-7 billion euros in financial support from governments, Germany's economy minister said. Sergio Marchionne met with senior officials in Berlin
Published 05 May, 2009 12:00am
US senators present Pakistan aid bill

US senators present Pakistan aid bill

The Kerry-Lugar bill, a legislation which would triple non-military aid to Pakistan for the next one decade, was presented in the US Senate on Monday, Aaj TV reported. The bill has been jointly tabled by Senator John Kerry, who head the power Forei
Published 05 May, 2009 12:00am
ADB and China Eximbank sign $3 billion agreement

ADB and China Eximbank sign $3 billion agreement

The Asian Development Bank and the Export-Import Bank of China signed a three-billion-dollar cofinancing agreement Monday for projects in developing Asian nations, the bank said in a statement. The agreement "aims to make it simpler for governments, sub-s
Published 05 May, 2009 12:00am
Pakistan's nuclear arms secure: Mullen

Pakistan's nuclear arms secure: Mullen

Pakistan's nuclear weapons are secure, the top US military chief Admiral Michael Mullen said Monday, ruling out that they could fall into the hands of Taliban militants. "I remain comfortable that the nuclear weapons in Pakistan are secure, that the Pakis
Published 05 May, 2009 12:00am
Asia faces up to challenges of crisis

Asia faces up to challenges of crisis

The global downturn could lead to unrest, more poverty and environmental challenges in Asia, regional leaders were warned on Monday, after they agreed on a $120 billion emergency fund to counter the crisis. Asia has been hard hit by the collapse in global
Published 05 May, 2009 12:00am
Pakistan's nuclear arms secure: Mullen

Pakistan's nuclear arms secure: Mullen

Pakistan's nuclear weapons are secure, the top US military chief Admiral Michael Mullen said Monday, ruling out that they could fall into the hands of Taliban militants. "I remain comfortable that the nuclear weapons in Pakistan are secure, that the Pakis
Published 05 May, 2009 12:00am
China Eastern sells two Airbus jets

China Eastern sells two Airbus jets

China Eastern Airlines said Monday it had agreed to sell two Airbus A340 jets for 590 million yuan (86 million dollars) to improve its cash flow, but added it would lease the planes back. The nation's third largest carrier by fleet size said it sold the t
Published 05 May, 2009 12:00am
Obama vows tougher overseas tax policies

Obama vows tougher overseas tax policies

President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting US jobs overseas and that allow wealthy people to evade taxes using offshore accounts. The White House estimates the plan would save $210 billion ov
Published 05 May, 2009 12:00am
US pending homes sales, construction spending up

US pending homes sales, construction spending up

Pending sales of previously owned US homes rose in March for a second straight month, while construction spending edged higher, according to reports on Monday that suggested a moderation in the housing slump. The reports, which boosted US stock prices, we
Published 05 May, 2009 12:00am
Obama vows tougher overseas tax policies

Obama vows tougher overseas tax policies

President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting US jobs overseas and that allow wealthy people to evade taxes using offshore accounts. The White House estimates the plan would save $210 billion ov
Published 05 May, 2009 12:00am
India's manufacturing expands

India's manufacturing expands

Activity in Indian factories expanded for the first time in five months in April as a swelling orders pipeline pointed to a tentative recovery, a survey showed on Monday. The ABN Amro Bank purchasing managers' index (PMI) based on a survey of 500 companie
Published 05 May, 2009 12:00am
Obama vows tougher overseas tax policies

Obama vows tougher overseas tax policies

President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting US jobs overseas and that allow wealthy people to evade taxes using offshore accounts. The White House estimates the plan would save $210 billion ov
Published 05 May, 2009 12:00am
China on road to recovery, new survey suggests

China on road to recovery, new survey suggests

A new survey of Chinese manufacturing provided fresh evidence on Monday that massive fiscal and monetary stimulus is reviving the world's third-largest economy. An index based on a survey of industry executives conducted for Hong Kong-based brokerage CLSA
Published 05 May, 2009 12:00am
Investment in Yemen: PPL tenders apology to ECC

Investment in Yemen: PPL tenders apology to ECC

The Pakistan Petroleum Limited (PPL) has tendered an apology for investing $17.5 million in OMV Yemen without prior consent of the government, a top Petroleum Ministry official told Business Recorder here on Monday. PPL is a leading oil and gas exp
Published 05 May, 2009 12:00am
Grim outlook leaves Japan behind in Asia fund inflow

Grim outlook leaves Japan behind in Asia fund inflow

Worsening economic prospects in Japan this year have chased away foreign funds, leaving the world's No 2 economy behind Asian peers that are starting to attract new funds from abroad. Japan is grappling with its worst recession since World War Two and has
Published 05 May, 2009 12:00am
Obama to meet Pakistan, Afghan leaders

Obama to meet Pakistan, Afghan leaders

President Barack Obama presents his strategy for defeating al Qaeda to the leaders of Afghanistan and Pakistan on Wednesday amid growing US concern it is losing the war and neither is a reliable ally. The White House meetings with Pakistani President Asif
Published 05 May, 2009 12:00am
Grim outlook leaves Japan behind in Asia fund inflow

Grim outlook leaves Japan behind in Asia fund inflow

Worsening economic prospects in Japan this year have chased away foreign funds, leaving the world's No 2 economy behind Asian peers that are starting to attract new funds from abroad. Japan is grappling with its worst recession since World War Two and has
Published 05 May, 2009 12:00am
Obama to meet Pakistan, Afghan leaders

Obama to meet Pakistan, Afghan leaders

President Barack Obama presents his strategy for defeating al Qaeda to the leaders of Afghanistan and Pakistan on Wednesday amid growing US concern it is losing the war and neither is a reliable ally. The White House meetings with Pakistani President Asif
Published 05 May, 2009 12:00am
No European recovery till mid 2010

No European recovery till mid 2010

Europe's economy will not start recovering until the second half of next year, the European Commission said on Monday, and cut forecasts made little more than three months ago to reflect the depth of the recession. Despite what it called recent "positive
Published 05 May, 2009 12:00am
No European recovery till mid 2010

No European recovery till mid 2010

Europe's economy will not start recovering until the second half of next year, the European Commission said on Monday, and cut forecasts made little more than three months ago to reflect the depth of the recession. Despite what it called recent "positive
Published 05 May, 2009 12:00am
Investment in Yemen: PPL tenders apology to ECC

Investment in Yemen: PPL tenders apology to ECC

The Pakistan Petroleum Limited (PPL) has tendered an apology for investing $17.5 million in OMV Yemen without prior consent of the government, a top Petroleum Ministry official told Business Recorder here on Monday. PPL is a leading oil and gas exp
Published 05 May, 2009 12:00am
No European recovery till mid 2010

No European recovery till mid 2010

Europe''s economy will not start recovering until the second half of next year, the European Commission said on Monday, and cut forecasts made little more than three months ago to reflect the depth of the recession. Despite what it called recent "positive
Published 05 May, 2009 12:00am
Investment in Yemen: PPL tenders apology to ECC

Investment in Yemen: PPL tenders apology to ECC

The Pakistan Petroleum Limited (PPL) has tendered an apology for investing $17.5 million in OMV Yemen without prior consent of the government, a top Petroleum Ministry official told Business Recorder here on Monday. PPL is a leading oil and gas exp
Published 05 May, 2009 12:00am
Sri Lanka March tea output falls

Sri Lanka March tea output falls

Sri Lankan tea production fell 44 percent in March compared with a year earlier on bad weather and low fertiliser usage, the Sri Lanka Tea Board said on Monday. Tea output fell to 18.16 million kg from 32.44 million kg in March 2008. "Weather conditions h
Published 05 May, 2009 12:00am
Malaysian palm oil hits 38-week high

Malaysian palm oil hits 38-week high

Malaysian palm futures hit a 38-week intraday high on Monday, tracking soya which soared on fears of tight global vegetable oil supplies, but gave up some gains in late selling, traders said. "I think the main driver was soya prices. Our own (palm) fundam
Published 05 May, 2009 12:00am
German retail sales fall

German retail sales fall

German households cut back on retail spending under the cloud of rising joblessness in March, a bigger fall than forecast, and a blow to hopes consumer spending could cushion the impact of the economic downturn. Retail sales fell 1.0 percent on the month
Published 05 May, 2009 12:00am
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