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Print - 2009-05-24
Foreign direct investment in Mexico dives in first quarter

Foreign direct investment in Mexico dives in first quarter

Foreign direct investment in Mexico plummeted during the first quarter to $2.663 billion as the United States trudged through its worst downturn in decades, the economy ministry said on Friday. That would be a 36.5 percent fall from the figure reported by
Published 24 May, 2009 12:00am
Two Pentagon workers die in Baghdad's Green Zone

Two Pentagon workers die in Baghdad's Green Zone

One American civilian and a person working for the Pentagon died inside central Baghdad's heavily fortified Green Zone in unrelated incidents, the US military said on Saturday. The body of a US citizen working for the US Department of Defence (DoD) was fo
Published 24 May, 2009 12:00am
Brown backs Pakistan Army advance in Swat

Brown backs Pakistan Army advance in Swat

British Prime Minister Gordon Brown on Saturday voiced support for Pakistan's "vital" drive against Taliban militants, as government troops entered the capital of the Swat valley. In a statement shortly before Pakistan's advance was announced, Brown pledg
Published 24 May, 2009 12:00am
Brown backs Pakistan Army advance in Swat

Brown backs Pakistan Army advance in Swat

British Prime Minister Gordon Brown on Saturday voiced support for Pakistan's "vital" drive against Taliban militants, as government troops entered the capital of the Swat valley. In a statement shortly before Pakistan's advance was announced, Brown pledg
Published 24 May, 2009 12:00am
Qureshi greets new Indian government, hopes for better ties

Qureshi greets new Indian government, hopes for better ties

Foreign Minister Shah Mehmood Qureshi while greeting the new Indian government under Prime Minister Manmohan Singh expressed the hope that process of composite dialogue would restart. In a telephonic interview to a private TV channel from his hometown lat
Published 24 May, 2009 12:00am
Australia's special envoy calls on President

Australia's special envoy calls on President

Australia's special envoy for Pakistan and Afghanistan Richard C Smith called on President Asif Ali Zardari on Saturday and discussed with him regional situation. The meeting was attended among others by Interior Minister Rehman Malik, Secretary General t
Published 24 May, 2009 12:00am
Haqqani steps up aid drive for IDPs

Haqqani steps up aid drive for IDPs

Pakistan stepped up the drive to secure assistance for displaced people of Swat with its ambassador in Washington highlighting to the Americans that their support would reassure the Pakistanis, who are determined to rout the Taliban insurgents in the nort
Published 24 May, 2009 12:00am
Assad brands Israel major obstacle to peace

Assad brands Israel major obstacle to peace

Syrian President Bashar al-Assad launched a tirade against Israel on Saturday, branding it the "major obstacle" to peace in the Middle East and backing the right of resistance to recover occupied land. He said the current state of Middle East peacemaking
Published 24 May, 2009 12:00am
Assad brands Israel major obstacle to peace

Assad brands Israel major obstacle to peace

Syrian President Bashar al-Assad launched a tirade against Israel on Saturday, branding it the "major obstacle" to peace in the Middle East and backing the right of resistance to recover occupied land. He said the current state of Middle East peacemaking
Published 24 May, 2009 12:00am
British expenses scandal fuels election calls: poll

British expenses scandal fuels election calls: poll

Britain's shocking expenses row is fuelling calls for early elections, a poll indicated Saturday as a "whistleblower" behind the embarrassing revelations said he was proud of his role. The opinion poll, showing two thirds of Britons want elections this ye
Published 24 May, 2009 12:00am
Two dead, 14 injured in Nepal church blast

Two dead, 14 injured in Nepal church blast

Two people were killed, including a teenage girl, and 14 wounded when a bomb exploded Saturday in a Roman Catholic church packed with worshippers on the outskirts of the Nepalese capital, police said. A Christian leader said the attack, the first on a Chr
Published 24 May, 2009 12:00am
Oil demand weak everywhere but not in Asia

Oil demand weak everywhere but not in Asia

Saudi Arabian oil minister Ali al-Naimi urged Opec to "stay the course" when it meets on May 28 and said oil prices would eventually hit $75 but cited weak demand as a problem, Platts oil agency reported on Saturday. "The problem is the market. Demand is
Published 24 May, 2009 12:00am
Relief goods Taseer leaves without inspection

Relief goods Taseer leaves without inspection

Governor of Punjab Salmaan Taseer here on Saturday reached the scene for inspection of trucks with relief goods for displaced persons of Swat and Malakand. However, the media persons complained of outrageous behaviour of four police personnel who fled the
Published 24 May, 2009 12:00am
OICCI hails decision to broaden tax net

OICCI hails decision to broaden tax net

The government's decision to broaden the tax net to increase revenue generation and ease the burden on the already taxed, at a time when Pakistan is faced with an acute shortage of resources is welcomed and fully supported by the Overseas Investors Chambe
Published 24 May, 2009 12:00am
Haqqani asks media not to confuse anti-terror fight with other issues

Haqqani asks media not to confuse anti-terror fight with other issues

Pakistan is maintaining a minimum nuclear deterrent capability and its determined ongoing anti-terrorism effort should not be confused with the nuclear programme but seen and supported in its proper perspective, Islamabad's top diplomat in Washington said
Published 24 May, 2009 12:00am
Displaced journalists facing a tough time

Displaced journalists facing a tough time

Mass exodus from the insurgency hit areas of Malakand Division has forced the local journalists to move to some safer places as publication of newspapers in the ongoing situation has become impossible. Four daily newspapers out of the five have ceased pub
Published 24 May, 2009 12:00am
JSQM calls for strike on May 25

JSQM calls for strike on May 25

Jeay Sindh Qaumi Mahaz (JSQM-Araiser Group) has called for strike tomorrow (Monday), Aaj TV reported. According to the channel, Muttahida Qaumi Movement (MQM) has supported the strike call given by the JSQM. A four-member delegation of JSQM led by
Published 24 May, 2009 12:00am
1377 villages of Sindh electrified in one year

1377 villages of Sindh electrified in one year

A total of 1377 villages of 22 districts of Sindh except Karachi have been energised by Hyderabad Electric Supply Company (Hesco) under Village Electrification Programme during July 2008 to April 2009. The project Director Construction/Operation Hesco Muh
Published 24 May, 2009 12:00am
No consensus on levy of FED in VAT mode

No consensus on levy of FED in VAT mode

Federal government and provinces on Saturday failed to evolve consensus on the imposition of federal excise duty in value added tax (VAT) mode on service providers.
Published 24 May, 2009 12:00am
'Pak-Turkey tourism to be promoted'

'Pak-Turkey tourism to be promoted'

The Federation of Chambers of Commerce and Industry (FPCCI) is devising an effective strategy to promote tourism between Pakistan and Turkey and will shortly organise a one-day seminar in this connection at the Federation House here.
Published 24 May, 2009 12:00am
Pakistan-Japan Study Group meeting in Tokyo from May 25

Pakistan-Japan Study Group meeting in Tokyo from May 25

Fifth round of Pakistan-Japan Joint Study Group meeting is starting on Monday in Tokyo to reach an agreement on establishment of Pak-Japan Special Economic Zone in Pakistan. Briefing newsmen on a three-day visit of a Pakistani delegation consisting of pub
Published 24 May, 2009 12:00am
KESC clarification

KESC clarification

The new management of Karachi Electric Supply Company has claimed investing a total amount of $72 million into the Company after it took over in mid-September last year and will confirm full details of investment made to date during next week, to refute c
Published 24 May, 2009 12:00am
KCAA election on May 30

KCAA election on May 30

Election of Karachi Custom Agents Association (KCAA) would be held on May 30, 2009 for the eight seats of office-bearers and 12 seats of managing committee. Syed Shams Ahmed Burni chairman executive committee of CAF and Qamar-ul-Salam chairman United Pane
Published 24 May, 2009 12:00am
Qaim denies banning IDPs entry in Sindh, vows all out support

Qaim denies banning IDPs entry in Sindh, vows all out support

Government of Sindh is establishing relief camps for the Internally Displaced Persons (IDPs) coming from Malakand division and the process of registration has already started so as to facilitate all those entering the province. This was revealed by the Si
Published 24 May, 2009 12:00am
MQM for IDPs registration to prevent entry of terrorists: Rizvi

MQM for IDPs registration to prevent entry of terrorists: Rizvi

Mutahidda Qaumi Movement (MQM) is insisting on registration of the Internally Displaced Persons (IDPs) upon their arrival in Sindh to thwart any attempt by terrorists to disrupt peace, MQM Deputy Parliamentary Leader in National Assembly Syed Haider Abbas
Published 24 May, 2009 12:00am
Pakistani statisticians invited to ICCS-X

Pakistani statisticians invited to ICCS-X

The Scientific Programme Committee of the 10th Islamic Countries Conference on Statistical Sciences (ICCS-X) has invited statisticians to submit abstract/paper for the three-day programme scheduled for December 20 to 23 at Cairo. The conference is being o
Published 24 May, 2009 12:00am
Western world asked to do more for Pakistan

Western world asked to do more for Pakistan

Chairman Senate Farooq H Naek on Saturday said that Pakistan has started military operation as a last resort to eliminate extremism and terrorism from Swat, Malakand and other adjoining areas and to ensure peace and security in the region.
Published 24 May, 2009 12:00am
Nation should get united for elimination of militants: minister

Nation should get united for elimination of militants: minister

NWFP Minister for Information, Mian Iftikhar Hussain has said that militant's agenda has been exposed now and the nation should get united for complete elimination of such elements from the country. He expressed these views while briefing newsmen here Sat
Published 24 May, 2009 12:00am
More Chinese assistance for IDPs

More Chinese assistance for IDPs

To help Pakistan government to meet the daily needs of ever-growing number of internally displaced persons (IDPs) of Swat and adjoining areas, the Chinese government has announced 30 million Renminbi (RMB/Yuan) further assistance for the affected people,
Published 24 May, 2009 12:00am
Government to achieve wheat procurement target of six million tonnes

Government to achieve wheat procurement target of six million tonnes

'The Government would soon achieve the historical target of 6 million metric tonnes wheat.' the Provincial Minister for Food, Malik Nadeem Kamran said. He said that Rs 150 billion had been fixed for the purchase of wheat. Out of which Rs 140 billion had b
Published 24 May, 2009 12:00am
'Operation to continue till end of militancy'

'Operation to continue till end of militancy'

NWFP Governor, Awais Ahmad Ghani said on Saturday that nation is fully supporting the strong commitment of government of purging the country from militants and Malakand operation will continue till the miscreants are complete eliminated. He was talking to
Published 24 May, 2009 12:00am
Conservative MPs support for Pakistan hailed

Conservative MPs support for Pakistan hailed

Pakistan High Commissioner to the United Kingdom Wajid Shamsul Hasan has expressed confidence in the efforts of the Conservative Parliamentarians for support of Pakistan on various bilateral and international issues.
Published 24 May, 2009 12:00am
Swat operation to be completed soon: Hoti

Swat operation to be completed soon: Hoti

Avoiding collateral damages, the Swat operation would be completed in minimum and shortest possible time to give safe passage to thousands of Internally Displaced Persons (IDPs) to their homes in Swat, Dir and Buner, NWFP Chief Minister, Ameer Haider Khan
Published 24 May, 2009 12:00am
135 foreign graduates pass NEB exams of PM&DC

135 foreign graduates pass NEB exams of PM&DC

Pakistan Medical and Dental Council (PM&DC) has announced the result of examinations held for registration and equivalence of foreign graduates under National Examination Board (NEB). According to a press release issued here on Saturday, total 409 candida
Published 24 May, 2009 12:00am
Chief Justice constitutes seven benches for next week

Chief Justice constitutes seven benches for next week

The Chief Justice Iftikhar Muhammad Chaudhry has constituted seven benches for the next week starting from May 25 at the Principal seat to hear a number of cases. The first bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Raja Fayyaz Ahm
Published 24 May, 2009 12:00am
UNHCR appreciates relief consignment from Italy

UNHCR appreciates relief consignment from Italy

The UN refugee agency has welcomed the airlift of more then 36,000 kilograms of relief supplies by the Italian government for its operations helping Internally Displaced Persons (IDPs) of NWFP. The urgently needed goods including generators, tents, plasti
Published 24 May, 2009 12:00am
Indonesian embassy donates relief goods for IDPs

Indonesian embassy donates relief goods for IDPs

The Staff members of the Indonesian Embassy in Islamabad, on behalf of its government, have donated 300 foam mattresses and pillows to help the Internally Displaced Persons (IDPs) of Swat, Malakand and Buner.
Published 24 May, 2009 12:00am
'Huge flood of IDPs has taken government by surprise'

'Huge flood of IDPs has taken government by surprise'

The sheer numbers of internally displaced persons (IDPs) has taken the government by surprise. This is the consensus of legal fraternity and civil society members on IDPs issue, when they were contacted by this scribe.
Published 24 May, 2009 12:00am
Satellite hospital to be set up for IDPs

Satellite hospital to be set up for IDPs

Pakistan Institute of Medical Sciences (PIMS) will set up a satellite hospital for Internally Displaced Persons (IDPs) to provide them best medical care. Executive Director PIMS Dr Altaf Hussain while talking to APP on Saturday said that the hospital to b
Published 24 May, 2009 12:00am
Navy dispatches 10 trucks of relief goods for IDPs

Navy dispatches 10 trucks of relief goods for IDPs

Pakistan Navy on Saturday dispatched 10 trucks containing 86 tonnes of relief goods for the internally displaced persons (IDPs) of Swat. Pakistan Navy Women Association (PNWA) also contributed 2 trucks for this great cause. The relief goods included a lar
Published 24 May, 2009 12:00am
Fund raising drive under way for IDPs in AJK

Fund raising drive under way for IDPs in AJK

Mirpur Deputy Commissioner Chaudhry Muhammad Tayyeb said on Saturday that an extensive campaign was underway for the collection of donations for the relief of displaced families of Swat and other parts of the Malakand. He said that generous donations incl
Published 24 May, 2009 12:00am
AJK government working on plan to provide facilities to refugees

AJK government working on plan to provide facilities to refugees

Azad Jammu Kashmir (AJK) government has started implementing a plan to provide basic infrastructural facilities in the already-existing residential colonies of AJK refugees of 1947, 1965 and 1971, official sources said. The sources told APP here on Saturd
Published 24 May, 2009 12:00am
PMRC treats 2,334 patients in Mardan camp

PMRC treats 2,334 patients in Mardan camp

Punjab Medical Relief Camp established on the directions of Chief Minister Punjab at Mardan Medical Complex had treated 2334 patients in 2 days. According to an official from Mardan, Director General Health Punjab Dr Muhammad Aslam Chaudhry informed the h
Published 24 May, 2009 12:00am
100 doctors from Punjab start providing healthcare to IDPs

100 doctors from Punjab start providing healthcare to IDPs

A team of hundred doctors announced by the Chief Minister Punjab, Mian Shahbaz Sharif for the Internally Displaced Persons (IDPs) of Malakand division have started providing healthcare facilities at camps. Mardan Medical Complex has been made a base camp
Published 24 May, 2009 12:00am
Yarn traders donate Rs 2.5 million for IDPs

Yarn traders donate Rs 2.5 million for IDPs

Traders of yarn market have given donation of cash Rs 2.5 million for the Faisalabad Relief Fund set up for the help of Internally Displaced Peoples (IDPs) of Swat and Malakand Division.
Published 24 May, 2009 12:00am
Wheat procurement centre records to be physically verified

Wheat procurement centre records to be physically verified

DCO Saeed Wahlah has ordered to conduct physical verification of all kind of record of wheat procurement centres in the district constituted committees comprising Deputy District Officers (R) and other officers and notified them in this regard.
Published 24 May, 2009 12:00am
Youths need to seek career in small enterprises

Youths need to seek career in small enterprises

The sector of small enterprises is the backbone of the economy that needs to be promoted by the youth of the country rather than looking for jobs in public sector. Chairman, Task Force of Punjab Assembly of Chief Minister, Rana Muhammad Afzal Khan express
Published 24 May, 2009 12:00am
First ever conference on sanitation starts on May 28

First ever conference on sanitation starts on May 28

To chalk-out a roadmap for translating National Sanitation Policy into action, Pakistan's first conference on sanitation (PACOSAN) will be held in federal capital from May 28, 2009. Ministry of Environment will be organising this conference in collaborati
Published 24 May, 2009 12:00am
Prime Minister gives Rs 50 million grant to NCA

Prime Minister gives Rs 50 million grant to NCA

Prime Minister Syed Yousuf Raza Gillani speaking at the 11th convocation of National College of Arts at Lahore on Saturday said that NCA was a distinguished and unique centre of creative learning. In these difficult times, it gave him greater pleasure to
Published 24 May, 2009 12:00am
Pakistani expatriate elected Luton mayor

Pakistani expatriate elected Luton mayor

A British Asian of Pakistani heritage has been elected as the new mayor of Luton located 32 miles north of the British capital with a large Muslim population. Councillor Muhammad Riaz will take oath of the office on May 27 for a period of one year after s
Published 24 May, 2009 12:00am
Taliban threaten dire consequences if operation not stopped: Fauzia

Taliban threaten dire consequences if operation not stopped: Fauzia

Central Information Secretary of Pakistan Peoples Party (PPP), Fauzia Wahab, on Saturday said that she received a letter from Taliban, which warned the government that the government would have to face dire consequences if it did not stop the military ope
Published 24 May, 2009 12:00am
Health budget to increase 56 percent

Health budget to increase 56 percent

The government has graciously increased the 2009-10 budget of Ministry of Health to Rs 29.685 billion, which is 56 percent higher than the previous year's sanctioned budget. This was announced in the Standing Committee meeting on Health held here on Satur
Published 24 May, 2009 12:00am
Best place to be a mother: Pakistan ranked 72 among 75 countries

Best place to be a mother: Pakistan ranked 72 among 75 countries

Pakistan was ranked 72 among 75 less developed countries as the best places to be a mother, according to Save the Children's 10th annual Mothers' Index. In the same list, Sri Lanka ranks 54 and India 70. The global ranking is highlighted in the organisati
Published 24 May, 2009 12:00am
PPMA alleges harassment by Customs Appraisement

PPMA alleges harassment by Customs Appraisement

Pakistan Pharmaceutical Manufacturers Association (PPMA) has alleged that Customs Appraisement was harassing its registered members and delaying the clearance of pharmaceutical raw material, pharma API consignment on various excuses for the last 15 days.
Published 24 May, 2009 12:00am
HBL urged to keep husband and wife at one station

HBL urged to keep husband and wife at one station

Responding to an application moved by two female medical students against the transfer of their father, Irshad-ur-Rehman, Assistant Manager, Habib Bank, from Karachi to Jhelum, Regional Director, Ministry of Human Rights has requested the bank to cancel t
Published 24 May, 2009 12:00am
Sindh government criticised for IDPs registration policy

Sindh government criticised for IDPs registration policy

Chairman, Pakistan Tehreek-e-Insaf (PTI), Imran Khan criticised the Sindh government for not allowing IDP to enter into the province on the pretext of completing registration process prior to entry. While talking to media personnel on Saturday.
Published 24 May, 2009 12:00am
India behind Swat unrest: PML-Q

India behind Swat unrest: PML-Q

Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Shujaat Hussain and senior leader Pervaiz Elahi here on Saturday maintained that armed forces instead of firing on their own countrymen were fighting against anti-Pakistan elements and added that key pla
Published 24 May, 2009 12:00am
CDA signs package deal with affectees of sectors I-11, I-12

CDA signs package deal with affectees of sectors I-11, I-12

The Capital Development Authority (CDA) on Saturday signed a package deal with the affectees of sector I-11and I-12 to solve the forty years old outstanding issue to get clear possession of both these sectors. Speaking on the occasion Tariq Mahmood Khan,
Published 24 May, 2009 12:00am
317 sites selected for building hydraulic power stations: minister

317 sites selected for building hydraulic power stations: minister

Punjab Irrigation Department has selected 317 locations at various canals and barrages for the construction of small hydraulic power stations in order to overcome the current electricity crisis in the province. Punjab Senior Minister and Minister for Irri
Published 24 May, 2009 12:00am
'Vacancies of Head Teacher will be filled after summer vacations'

'Vacancies of Head Teacher will be filled after summer vacations'

Secretary School Education Punjab Nadeem Ashraf has asked concerned authorities to ensure the implementation of Chief Secretary's order regarding holding of open kutchehry for three days in a week. He also asked the officials to dispose of pension cases o
Published 24 May, 2009 12:00am
Petition against bottled drinking water moved in LHC

Petition against bottled drinking water moved in LHC

The Lahore High Court was moved on Saturday against bottled drinking water which allegedly caused of various human diseases. Petition was filed by President Watan Party, (Punjab Chapter), Hashim Shaukat Khan, through counsel Barrister Zafarullah Khan.
Published 24 May, 2009 12:00am
Zero tolerance policy against misuse of relief items: ERU

Zero tolerance policy against misuse of relief items: ERU

Emergency Response Unit (ERU) has taken strict notice of charges being made by IDPs about misuse of relief items being provided by various donor agencies and directed the security agencies to arrest all elements found guilty of selling food and other item
Published 24 May, 2009 12:00am
ICMAP celebrates 58th anniversary

ICMAP celebrates 58th anniversary

The Institute of Cost and Management Accountants of Pakistan (ICMAP) celebrated its "58th Anniversary" in Pakistan on Saturday (May 23, 2009). The ICMAP Secretary Zia ul Mustafa Awan highlighted that Management Accountants have duly been contributing in s
Published 24 May, 2009 12:00am
LHC constitutes 16 divisional, 33 single benches

LHC constitutes 16 divisional, 33 single benches

The Chief Justice, Lahore High Court, Khawaja Muhammad Sharif on Saturday constituted 16 divisional benches (DBs) and 33 single benches (SBs) for the disposal of the cases pending at the principal seat for the week starting from May 25.
Published 24 May, 2009 12:00am
Pepco fails to schedule load shedding hours

Pepco fails to schedule load shedding hours

Rampant load shedding or what is being termed as 'forced closure' has hit the country again, despite the promises made by the Managing Director (MD), Pakistan Electric Power Company (Pepco), before being appointed to the post that the company would observ
Published 24 May, 2009 12:00am
Growers asked to sow stronger cotton variety

Growers asked to sow stronger cotton variety

Punjab agriculture department has advised the cotton growers to sow only those varieties that have strong resistance power to fight leaf curl virus. The department has also advised the farmers to uproot weeds and not to sow those plants known for hosting
Published 24 May, 2009 12:00am
Punjab land revenue amendment case hearing on May 25

Punjab land revenue amendment case hearing on May 25

The Lahore High Court (LHC) would take up two petitions challenging the 'Commissionerate System' established in the province through an amendment in Punjab Land Revenue Ordinance, 2008 on May 25. The Attorney General Pakistan and Advocate General Punjab w
Published 24 May, 2009 12:00am
Girls sports gala conveys message of peace: PSB

Girls sports gala conveys message of peace: PSB

Punjab Minister for Culture and Youth Affairs and Sports, Dr Tanvir-ul-Islam has said that Punjab Sports Board (PSB), by holding Inter-Provincial Under-16 Girls Sports Gala has conveyed a message that people of Pakistan want peace and will defeat terroris
Published 24 May, 2009 12:00am
Smeda opens Help-Desk at APCEA

Smeda opens Help-Desk at APCEA

Small and Medium Enterprises Development Authority (Smeda) has established Help-Desk in the office of All Pakistan Commercial Exporters Association (APCEA). The decision into this effect was taken during a meeting between Smeda NWFP Chief Javed Iqbal Khat
Published 24 May, 2009 12:00am
Obama signs sweeping credit card reform bill

Obama signs sweeping credit card reform bill

US President Barack Obama signed into law on Friday sweeping reforms that restrict credit card interest rates and fees, marking a victory for Democrats trying to help recession-weary consumers and a setback for banks seeking to retain sorely-needed revenu
Published 24 May, 2009 12:00am
'UN carbon market a success despite criticism'

'UN carbon market a success despite criticism'

The architects of a new global climate change deal should not lose sight of the achievements already made, despite calls for wholesale reform, a senior executive with Italian power giant Enel said on Saturday.
Published 24 May, 2009 12:00am
Obama hopes for 'leaner, meaner' GM and Chrysler

Obama hopes for 'leaner, meaner' GM and Chrysler

President Barack Obama says General Motors Corp and Chrysler LLC must emerge from their restructuring as "leaner, meaner" companies and that a substantial market awaits them if they make the right decisions. Obama said in an interview broadcast Saturday o
Published 24 May, 2009 12:00am
Mukherjee takes charge of slowing Indian economy

Mukherjee takes charge of slowing Indian economy

India's veteran Congress party leader Pranab Mukherjee takes over as finance minister at a time when Asia's third-largest economy faces slowing growth, worsening public finances, falling exports and massive job losses. Mukherjee, 73, has decades of experi
Published 24 May, 2009 12:00am
US regulators close Citizens National Bank

US regulators close Citizens National Bank

Bank regulators closed Citizens National Bank, of Macomb, Illinois, on Friday, the 36th US bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions. The Federal Deposit Insurance Corp said Citizens
Published 24 May, 2009 12:00am
UN financial summit may be postponed

UN financial summit may be postponed

A UN summit to discuss the global financial crisis planned for early June may be postponed by a few weeks, the spokesman for General Assembly President Miguel D'Escoto Brockmann said on Friday. Enrique Yeves told reporters that in the past few days some m
Published 24 May, 2009 12:00am
Where would you invest a million dollars?

Where would you invest a million dollars?

If we gave you a million dollars today, where would you invest it? That was the question posed to executives at the Reuters Global Technology Summit this week - with the caveat that they couldn't pick their own company, of course. It's not an easy answer
Published 24 May, 2009 12:00am
ECB rules out change in price stability definition

ECB rules out change in price stability definition

European Central Bank President Jean-Claude Trichet on Saturday stressed the importance of low inflation for confidence and categorically ruled out any change in the ECB's definition of price stability. Trichet, speaking to reporters after a meeting of th
Published 24 May, 2009 12:00am
China plans three million tonnes of fuel reserve this year

China plans three million tonnes of fuel reserve this year

China wants to set up a 3 million tonne reserve of oil products this year, which is practically impossible, a researcher at a think-tank run by the country's top oil refiner, Sinopec Group, was quoted as saying on Saturday. "In reality, this goal is impos
Published 24 May, 2009 12:00am
Iran hints at return to wheat self-sufficiency

Iran hints at return to wheat self-sufficiency

A senior agriculture ministry official suggested in comments published on Saturday that Iran could produce enough wheat to meet domestic demand in the 2009-10 year after imports jumped last year due to a drought. The semi-official Mehr News Agency quoted
Published 24 May, 2009 12:00am
US subsidises some dairy exports, blames EU action

US subsidises some dairy exports, blames EU action

The United States moved to subsidise some of its dairy exports on Friday, saying it was forced to respond to new European subsidies that have made it hard to compete in global markets depressed by the economic downturn.
Published 24 May, 2009 12:00am
Australia central bank's note partner calls in police

Australia central bank's note partner calls in police

A banknote venture half-owned by Australia's central bank has called in police over allegations its money may have been used indirectly to pay kickbacks to foreign governments, the bank said on Saturday. The Reserve Bank of Australia (RBA) said in a state
Published 24 May, 2009 12:00am
Universities contest in Microsoft competition

Universities contest in Microsoft competition

Leading universities competed in the national finals for the Microsoft software design competition 'Imagine Cup 2009'. The winning team belonged to the University of Engineering and Technology Lahore and will be sent by Microsoft for an all-expense paid t
Published 24 May, 2009 12:00am
CZC doubles relief grant for hospitals

CZC doubles relief grant for hospitals

The Central Zakat Council (CZC) of Ministry of Zakat and Ushr has collectively enhanced annual Zakat grant from Rs 24.600 million to Rs 50.600 million for various hospitals and health institutions across the country.
Published 24 May, 2009 12:00am
NH&MP seizes drugs, arrest smugglers

NH&MP seizes drugs, arrest smugglers

National Highways and Motorway Police (NH&MP) has seized 01-kg Heroin, 120-kg Charras and 16-kg Opium worth millions of rupees and arrested three smugglers. The officers of motorway police during routine checking in the area of Chakri, signaled to stop an
Published 24 May, 2009 12:00am
NWFP apex body reviews law, order situation, relief activities

NWFP apex body reviews law, order situation, relief activities

The Apex Policy Committee of NWFP, met under the chairmanship of NWFP Governor, Owais Ahmed Ghani at Governor House, Peshawar on Saturday, reviewed the over all law and order situation in the province and Fata with special focus on state of relief activit
Published 24 May, 2009 12:00am
Opposition members criticise strike in Sindh

Opposition members criticise strike in Sindh

Criticising the strike in Sindh, the opposition members of the City Council said that it was politically motivated, which caused losses of billions of rupees to the people of the province. This was said by the opposition leader, Saeed Ghani.
Published 24 May, 2009 12:00am
FBR emergency LTUs, RTOs conference today

FBR emergency LTUs, RTOs conference today

The Federal Board of Revenue (FBR) has called an emergency conference of the Director Generals of Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) on Sunday (today) to discuss budget proposals (2009-2010) and finalise short-term strategy to inc
Published 24 May, 2009 12:00am
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