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Print - 2009-06-14
Business community rejects budget as anti-business

Business community rejects budget as anti-business

Business Community out-rightly rejected the federal budget 2009-10, terming it a budget of bankers and prepared on the dictation of World Bank and International Monitory Fund (IMF). The businessmen of the twin-cities called it a disappointing and anti-poo
Published 14 Jun, 2009 12:00am
Finance Bill 2009 tabled in Senate

Finance Bill 2009 tabled in Senate

State Minister for Finance and Economic Affairs Hina Rabbani Khar has tabled the Finance Bill 2009 in Senate after presenting federal budget 2009-10 in National Assembly on Saturday. Speaking at a point of order, leader of opposition in Senate Wasim Sajja
Published 14 Jun, 2009 12:00am
Gilani visits National Assembly Speaker's chamber

Gilani visits National Assembly Speaker's chamber

Prime Minister Syed Yousuf Raza Gilani visited the Chamber of Speaker National Assembly Dr Fehmida Mirza after the presentation of Budget 2009-10 in the National Assembly. The Speaker congratulated the Prime Minister on preparation of comprehensive and po
Published 14 Jun, 2009 12:00am
Shanghai gay pride: the show goes on

Shanghai gay pride: the show goes on

A colourful show of drag queens dressed in Chinese opera costumes was one of the festivities that marked Shanghai's gay pride Saturday, the first in China where homosexuality remains largely hidden. A "Big Bash" barbecue Saturday - billed as the highlight
Published 14 Jun, 2009 12:00am
US Qaeda member says world-wide attacks 'legitimate'

US Qaeda member says world-wide attacks 'legitimate'

An American member of al Qaeda urged Islamist militants to attack Zionist and Western interests world-wide, in a new videotape posted online on Saturday. "The Zio-Crusader interests everywhere are legitimate targets for us," said Adam Gadahn, who is also
Published 14 Jun, 2009 12:00am
British lawmakers criticise US missile shield plan

British lawmakers criticise US missile shield plan

A planned US missile shield may not strengthen Europe's security and could hurt Nato's interests if deployed in the face of Russian opposition, British members of parliament said on Sunday. The United States says the anti-missile system is designed to pre
Published 14 Jun, 2009 12:00am
Gas leak postpones space shuttle launch

Gas leak postpones space shuttle launch

NASA cancelled plans to launch space shuttle Endeavour on a construction mission to the International Space Station on Saturday due to a potentially dangerous hydrogen leak. The leak was found as technicians neared completion of the loading of 500,000 gal
Published 14 Jun, 2009 12:00am
Britain marks queen's 83rd birthday

Britain marks queen's 83rd birthday

Queen Elizabeth II has marked her official birthday with her family by her side and hundreds of soldiers parading in front of her. The queen turned 83 in April, but tradition holds that ``Trooping the Colour' _ the public party for the monarch's birthday
Published 14 Jun, 2009 12:00am
Suicide attack kills eight Afghan drivers: official

Suicide attack kills eight Afghan drivers: official

A suicide bomber blew himself up among delivery vehicles parked outside an international military base in southern Afghanistan and killed eight drivers, an official said Saturday. The insurgent Taliban movement claimed responsibility for the attack about
Published 14 Jun, 2009 12:00am
Curry powder sparks fire alert on plane: report

Curry powder sparks fire alert on plane: report

An Air India passenger jet heading to Frankfurt was forced to return to Mumbai after a bag of curry powder set off smoke and fire alarms, it was reported Saturday. Pilots on the Boeing 747-400 plane activated fire extinguishers after receiving a cockpit w
Published 14 Jun, 2009 12:00am
North Korea responds to UN with nuclear threats

North Korea responds to UN with nuclear threats

North Korea said on Saturday it would start a uranium enrichment program and weaponise all its plutonium in response to fresh UN sanctions, prompting the United States to demand that Pyongyang stop its "provocative" actions. North Korea also threatened mi
Published 14 Jun, 2009 12:00am
Obama envoy in Syria to push for Middle East peace

Obama envoy in Syria to push for Middle East peace

US envoy George Mitchell holds talks with Syrian leaders on Saturday on his first visit to Damascus as President Barack Obama's administration steps up its efforts to bring peace to the Middle East. Mitchell, on the latest leg of a regional tour, is set t
Published 14 Jun, 2009 12:00am
'Saudi Arabia pledges to loosen controls on women'

'Saudi Arabia pledges to loosen controls on women'

Saudi Arabia has pledged to take steps toward removing rules requiring a woman to have a male guardian at all times, saying there is no such legal requirement, a rights organisation said. Saudi rights officials committed in a review with the UN Human Righ
Published 14 Jun, 2009 12:00am
Three Guantanamo detainees sent to Saudi Arabia

Three Guantanamo detainees sent to Saudi Arabia

The US Justice Department announced Friday that three Saudi nationals had been transferred from the Guantanamo Bay prison camp back to Saudi Arabia, where they will undergo a "rehabilitation program." Khalid Saad Mohammed, Abdalaziz Kareem Salim Al Noofay
Published 14 Jun, 2009 12:00am
Nineteen dead in Saudi bus crash

Nineteen dead in Saudi bus crash

Nineteen men, most of them foreign workers, were incinerated when a Saudi bus caught fire after crashing into a truck during a blinding sandstorm, a transport official said on Saturday. No one escaped from the burning bus when it hit a slow-moving truck e
Published 14 Jun, 2009 12:00am
World must prevent nuclear Iran, Israeli official says

World must prevent nuclear Iran, Israeli official says

Israel's Deputy Foreign Minister said on Saturday that the international community needs to prevent Iran from obtaining nuclear capabilities after the country's hard-line President Mahmoud Ahmadinejad was re-elected. "With the results of the election in I
Published 14 Jun, 2009 12:00am
South Africa see off West Indies

South Africa see off West Indies

South Africa maintained their unbeaten record at the World Twenty20 with a 20-run Super Eights win over the West Indies at the Oval here on Saturday. West Indies, chasing 184 to win, were given hope by Lendl Simmons's brilliant innings of 77, which came o
Published 14 Jun, 2009 12:00am
FIFA wins race to convert pitches from rugby to soccer

FIFA wins race to convert pitches from rugby to soccer

FIFA and the local organising committee of the Confederations Cup moved to allay fears on Saturday that the quality of the pitches being used in the competition would not be of the highest quality. Three of the four pitches being used for the World Cup te
Published 14 Jun, 2009 12:00am
Manchester United make offers for Valencia: Wigan

Manchester United make offers for Valencia: Wigan

Manchester United have tabled offers for Wigan Athletic's Ecuador winger Antonio Valencia, the Premier League club's chairman Dave Whelan has said. "They (United) have been in touch with us and we will be starting negotiations very shortly, I would imagin
Published 14 Jun, 2009 12:00am
Bravo-inspired West Indies down India

Bravo-inspired West Indies down India

Dwayne Bravo bulldozed defending champions India with bat and ball to hand the West Indies an emphatic seven-wicket win in the Twenty20 Super Eights match on Friday. Bravo claimed four wickets in India's 153-7 before smashing 66 not out off 36 balls to le
Published 14 Jun, 2009 12:00am
Real Madrid swoop for Villa: report

Real Madrid swoop for Villa: report

Valencia striker David Villa, one of the stars of Spain's victorious Euro 2008 squad, has signed for Real Madrid for close to 40 million euros, a Spanish newspaper said Saturday. Marca, citing sources at Real Madrid and Valencia, said both clubs were hamm
Published 14 Jun, 2009 12:00am
Roddick out injured, Murray hurries into final

Roddick out injured, Murray hurries into final

Andy Roddick's hopes of a fifth Queen's Club title ended painfully on Saturday when the American limped out midway through the first set of his all-American semi-final against James Blake with a right ankle injury. Roddick's retirement threw his Wimbledon
Published 14 Jun, 2009 12:00am
Mexican stocks edge up

Mexican stocks edge up

Mexico's stocks edged up on Friday after a survey of US consumer confidence rose to a nine-month high in June. The IPC stock index gained 0.09 percent to 25,396 after falling as much as 0.8 percent in opening trade. If stocks can maintain positive momentu
Published 14 Jun, 2009 12:00am
Treasury Outlook: bond rally may run on housing data

Treasury Outlook: bond rally may run on housing data

Concerns about the housing sector will dominate the Treasury market next week, with the potential for lower yields after this week's successful Treasury auctions. But the rally, which began Thursday, may not have much farther to run. Investors have been w
Published 14 Jun, 2009 12:00am
Treasury Outlook: bond rally may run on housing data

Treasury Outlook: bond rally may run on housing data

Concerns about the housing sector will dominate the Treasury market next week, with the potential for lower yields after this week's successful Treasury auctions. But the rally, which began Thursday, may not have much farther to run. Investors have been w
Published 14 Jun, 2009 12:00am
Cabinet approves 2009-10 budget

Cabinet approves 2009-10 budget

The Federal Cabinet, which met on Saturday with Prime Minister Syed Yousuf Raza Gilani in the chair, accorded approval of the Federal budget for 2009-10 financial year before presenting it to the National Assembly. The Prime Minister, referring to the dif
Published 14 Jun, 2009 12:00am
Cabinet approves 2009-10 budget

Cabinet approves 2009-10 budget

The Federal Cabinet, which met on Saturday with Prime Minister Syed Yousuf Raza Gilani in the chair, accorded approval of the Federal budget for 2009-10 financial year before presenting it to the National Assembly. The Prime Minister, referring to the dif
Published 14 Jun, 2009 12:00am
Budget didn't meet industry's expectations: FPCCI

Budget didn't meet industry's expectations: FPCCI

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday said that the fiscal budget 2009-10 "apparently" did not meet the expectations of industry to make the exports zero-rated in real terms, however it will issue a policy statement
Published 14 Jun, 2009 12:00am
Senator Waqar leaves for China

Senator Waqar leaves for China

Federal Minister for Investment Senator Waqar Ahmed Khan Saturday left for one week official visit to China. During stay in China, he will have exclusive meetings with CEOs of Chinese multinational companies and potential investors in Beijing, Shanghai an
Published 14 Jun, 2009 12:00am
Budget didn't meet industry's expectations: FPCCI

Budget didn't meet industry's expectations: FPCCI

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday said that the fiscal budget 2009-10 "apparently" did not meet the expectations of industry to make the exports zero-rated in real terms, however it will issue a policy statement
Published 14 Jun, 2009 12:00am
Budget termed as anti-people, anti-industry

Budget termed as anti-people, anti-industry

People from different walks of life have termed the federal budget 2009-10 as anti-people and said it would multiply the miseries of common man on the one hand and deny any tangible relief to the industry on the other. They were of the view that the gover
Published 14 Jun, 2009 12:00am
Budget termed as anti-people, anti-industry

Budget termed as anti-people, anti-industry

People from different walks of life have termed the federal budget 2009-10 as anti-people and said it would multiply the miseries of common man on the one hand and deny any tangible relief to the industry on the other. They were of the view that the gover
Published 14 Jun, 2009 12:00am
SCCI rejects federal budget

SCCI rejects federal budget

The Sarhad Chamber of Commerce and Industry (SCCI) has rejected the Federal Budget 2009-10, saying that it is neither people nor business friendly as no benefit has been given to both segments of the society. Commenting on the federal budget, president of
Published 14 Jun, 2009 12:00am
SCCI rejects federal budget

SCCI rejects federal budget

The Sarhad Chamber of Commerce and Industry (SCCI) has rejected the Federal Budget 2009-10, saying that it is neither people nor business friendly as no benefit has been given to both segments of the society. Commenting on the federal budget, president of
Published 14 Jun, 2009 12:00am
Textile industry shows mixed reaction

Textile industry shows mixed reaction

The textile industry has showed a mixed reaction to the budget speech, with a majority view that it lacks a visionary approach, carries multiple ambiguities and blends the optimism with the pessimism simultaneously. It may be noted that the textile sector
Published 14 Jun, 2009 12:00am
Textile industry shows mixed reaction

Textile industry shows mixed reaction

The textile industry has showed a mixed reaction to the budget speech, with a majority view that it lacks a visionary approach, carries multiple ambiguities and blends the optimism with the pessimism simultaneously. It may be noted that the textile sector
Published 14 Jun, 2009 12:00am
Hina becomes indispensable economic manager

Hina becomes indispensable economic manager

Minister of State for Finance and Economic Affairs Hina Rabbani Khar has become indispensable economic manager of present times due to her courage to challenge the GDP growth figure of the previous government despite the fact that she was member of the ca
Published 14 Jun, 2009 12:00am
Business community terms budget jugglery of figures

Business community terms budget jugglery of figures

The business community while expressing reservations over, what they said, hidden details of budget 2009-10, termed it as jugglery of figures and said it would further constrict the existing taxpayers rather than brining new taxpayers in tax net for which
Published 14 Jun, 2009 12:00am
Indian envoy meets Rehman Malik

Indian envoy meets Rehman Malik

Indian High Commissioner in Pakistan, Sharad Sabharwal, on Saturday called on Federal Minister for Interior, Senator A Rehman Malik here at Ministry of Interior. Both sides discussed different issues, including Mumbai terror blast incident. Federal Minist
Published 14 Jun, 2009 12:00am
Business community terms budget jugglery of figures

Business community terms budget jugglery of figures

The business community while expressing reservations over, what they said, hidden details of budget 2009-10, termed it as jugglery of figures and said it would further constrict the existing taxpayers rather than brining new taxpayers in tax net for which
Published 14 Jun, 2009 12:00am
Agriculturists express dissatisfaction

Agriculturists express dissatisfaction

Growers' organisations have expressed their dissatisfaction over the 2009-10 Federal budget 2009-10 announced on Saturday. They observed that it fell way too short from giving much needed incentives and facilities to this agriculture sector, which could h
Published 14 Jun, 2009 12:00am
Agriculturists express dissatisfaction

Agriculturists express dissatisfaction

Growers' organisations have expressed their dissatisfaction over the 2009-10 Federal budget 2009-10 announced on Saturday. They observed that it fell way too short from giving much needed incentives and facilities to this agriculture sector, which could h
Published 14 Jun, 2009 12:00am
Ethiopia denies its soldiers in Somalia

Ethiopia denies its soldiers in Somalia

Ethiopia denied on Saturday it had sent soldiers into Somalia, a day after residents reported seeing heavily armed troops from the neighbouring Horn of Africa nation in at least two different regions. Ethiopia's head of government information, Bereket Sim
Published 14 Jun, 2009 12:00am
Cameroon court ups sentence to life for former minister

Cameroon court ups sentence to life for former minister

A former Cameroon mines minister and two aides found guilty of corruption must now serve life in jail after an appeals court lifted their existing 30-year terms, state radio reported on Saturday. Defence lawyers walked out in protest before the judgements
Published 14 Jun, 2009 12:00am
China bond yields up

China bond yields up

China's bill and bond yields mostly rose on Friday after May economic data suggested that the recovery was gaining momentum. Traders believe bond yields may gradually rise in coming weeks as rising car sales and property investment in May eased some doubt
Published 14 Jun, 2009 12:00am
China bond yields up

China bond yields up

China's bill and bond yields mostly rose on Friday after May economic data suggested that the recovery was gaining momentum. Traders believe bond yields may gradually rise in coming weeks as rising car sales and property investment in May eased some doubt
Published 14 Jun, 2009 12:00am
US corporate bond spreads extend rally

US corporate bond spreads extend rally

US corporate bond spreads ended the week on a strong tone, tightening further on Friday as investors were content to sit tight after the 11th week of a spring rally that seems poised to continue. Cash spreads tightened about 2-3 basis points, traders said
Published 14 Jun, 2009 12:00am
US corporate bond spreads extend rally

US corporate bond spreads extend rally

US corporate bond spreads ended the week on a strong tone, tightening further on Friday as investors were content to sit tight after the 11th week of a spring rally that seems poised to continue. Cash spreads tightened about 2-3 basis points, traders said
Published 14 Jun, 2009 12:00am
Wall Street week ahead: CPI may feed early recovery hopes

Wall Street week ahead: CPI may feed early recovery hopes

Stock investors will watch housing starts, CPI and other data next week for signs that hopes for economic recovery will not turn out to be false. If recent weeks' activity is any indication, stocks may stay in a narrow trading range, as recovery hopes hav
Published 14 Jun, 2009 12:00am
Korean three-year bond falls

Korean three-year bond falls

South Korean short-end government bond prices fell again on Friday, with the 3-year yield jumping to a fresh yearly high, after the central bank repeated its warnings against inflation and liquidity. The Bank of Korea governor again called for caution ove
Published 14 Jun, 2009 12:00am
Korean three-year bond falls

Korean three-year bond falls

South Korean short-end government bond prices fell again on Friday, with the 3-year yield jumping to a fresh yearly high, after the central bank repeated its warnings against inflation and liquidity. The Bank of Korea governor again called for caution ove
Published 14 Jun, 2009 12:00am
US Treasury bond prices rally

US Treasury bond prices rally

US Treasury debt rallied on Friday, extending the retreat in benchmark yields from eight-month highs as bond investors breathed a sigh of relief following a week of heavy government borrowing. The market underwrote and distributed $65 billion of bonds wit
Published 14 Jun, 2009 12:00am
US Treasury bond prices rally

US Treasury bond prices rally

US Treasury debt rallied on Friday, extending the retreat in benchmark yields from eight-month highs as bond investors breathed a sigh of relief following a week of heavy government borrowing. The market underwrote and distributed $65 billion of bonds wit
Published 14 Jun, 2009 12:00am
JGBs surge after US yield rise

JGBs surge after US yield rise

Japanese government bond prices surged on Friday, rebounding from the previous day's losses, with investors relieved after the US Treasuries market handled the last supply hurdle of the week comfortably. US Treasuries rallied on Thursday, pulling benchmar
Published 14 Jun, 2009 12:00am
JGBs surge after US yield rise

JGBs surge after US yield rise

Japanese government bond prices surged on Friday, rebounding from the previous day's losses, with investors relieved after the US Treasuries market handled the last supply hurdle of the week comfortably. US Treasuries rallied on Thursday, pulling benchmar
Published 14 Jun, 2009 12:00am
Argentine stocks slip

Argentine stocks slip

Argentina's stock, bond and currency market trends on Friday. Prices for government bonds traded over-the-counter in Buenos Aires gained 3.3 percent on average, rising for a fourth consecutive day as investor appetite for risk increased. The 2014 Boden bo
Published 14 Jun, 2009 12:00am
Toronto's main stock ends lower

Toronto's main stock ends lower

Toronto's main stock index closed lower on Friday as a slide in oil prices pulled down the resource-heavy index, but it still notched up its fourth straight week of gains. Energy companies, which were key drivers behind the TSX index's 42 percent surge fr
Published 14 Jun, 2009 12:00am
Canadian bonds flat to higher

Canadian bonds flat to higher

Canadian bond prices were flat to higher on Friday, tracking the US Treasury market, which rose on Friday and extended gains made in the previous session after several successful auctions this week. The benchmark two-year government bond edged 1 Canadian
Published 14 Jun, 2009 12:00am
Canadian bonds flat to higher

Canadian bonds flat to higher

Canadian bond prices were flat to higher on Friday, tracking the US Treasury market, which rose on Friday and extended gains made in the previous session after several successful auctions this week. The benchmark two-year government bond edged 1 Canadian
Published 14 Jun, 2009 12:00am
Emerging Markets: LatAm markets mixed

Emerging Markets: LatAm markets mixed

Latin American financial markets ended mixed on Friday, with Brazil's stocks and currency gaining after a larger-than-expected interest rate cut, but Venezuela's bonds plunging on negative credit rating news. Brazil's benchmark Bovespa stock index rose 0.
Published 14 Jun, 2009 12:00am
Emerging Markets: LatAm markets mixed

Emerging Markets: LatAm markets mixed

Latin American financial markets ended mixed on Friday, with Brazil's stocks and currency gaining after a larger-than-expected interest rate cut, but Venezuela's bonds plunging on negative credit rating news. Brazil's benchmark Bovespa stock index rose 0.
Published 14 Jun, 2009 12:00am
Defensives lift Dow, S&P; tech weighs on Nasdaq

Defensives lift Dow, S&P; tech weighs on Nasdaq

The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks. The healthcare se
Published 14 Jun, 2009 12:00am
Forex outlook: dollar likely to fall in the week ahead

Forex outlook: dollar likely to fall in the week ahead

The US dollar is likely to extend this week's drop in the trading week ahead as economic data fails to convince investors the US economy is recovering fast enough to warrant demand for the greenback. Despite a rally on Friday, this week's record auction o
Published 14 Jun, 2009 12:00am
New Zealand dollar near week high

New Zealand dollar near week high

The New Zealand dollar held near one-week highs on Friday as improved risk appetite buoyed demand for high-yielding currencies and as many investors took a view that the central bank was done with rate cutting. The New Zealand dollar settled around $0.643
Published 14 Jun, 2009 12:00am
IMM speculators raise bets versus dollar

IMM speculators raise bets versus dollar

Currency speculators increased their short US dollar positions in the latest week, according to Commodity Futures Trading Commission data released on Friday. The value of the US dollar's net short position rose to $5.49 billion in the week ending June 9,
Published 14 Jun, 2009 12:00am
Dollar rebounds after selloff

Dollar rebounds after selloff

The US dollar rose broadly on Friday, rebounding from a selloff earlier this week, while demand for the euro fell after data showed a plunge in euro zone industrial production. Commodity currencies, including the Canadian and Australian dollars, also fell
Published 14 Jun, 2009 12:00am
Mexican peso pares loss

Mexican peso pares loss

Mexico's peso pared losses on Friday and stocks edged up after a survey of US consumer confidence rose to a nine-month high in June. The peso traded down 0.31 percent at 13.396 per US dollar, but marginally stronger than levels seen earlier above 13.43. T
Published 14 Jun, 2009 12:00am
East African units seen mixed

East African units seen mixed

The Kenya shilling is projected to have mixed trade against the dollar in the week to Wednesday, while the Tanzanian and Ugandan units are seen firming.
Published 14 Jun, 2009 12:00am
Canadian dollar falls

Canadian dollar falls

The Canadian dollar fell against the US dollar on Friday as stock markets and commodity prices sagged, while the greenback strengthened. The Canadian dollar was also pressured by comments by Bank of Canada Governor Mark Carney on Thursday that the rapid a
Published 14 Jun, 2009 12:00am
Lorenzo pips Rossi for Catalan MotoGP pole

Lorenzo pips Rossi for Catalan MotoGP pole

Spaniard Jorge Lorenzo produced a storming late qualifying lap on Saturday to pip Yamaha team mate Valentino Rossi to pole position for Sunday's Catalan MotoGP. In sweltering conditions at Barcelona's Circuit de Catalunya, the 22-year-old clocked a fastes
Published 14 Jun, 2009 12:00am
Rival F1 series is real option, says Ferrari head

Rival F1 series is real option, says Ferrari head

Formula One manufacturers are ready to set up a rival series if the governing body does not meet their demands on next year's rules, Ferrari president Luca di Montezemolo said on Saturday. "Definitely this situation will be resolved one way or the other,"
Published 14 Jun, 2009 12:00am
Deputy warns British Prime Minister of new leadership threat

Deputy warns British Prime Minister of new leadership threat

British Prime Minister Gordon Brown's deputy warned Saturday that he would likely face a renewed threat to his leadership after surviving serious blows last week. Lord Peter Mandelson predicted that rebels would likely try to dislodge Brown at the governi
Published 14 Jun, 2009 12:00am
Obama says ways found to finance health care reform

Obama says ways found to finance health care reform

US President Barack Obama said Saturday he had found more than 300 billion dollars that could help his government make health care available to all Americans. The announcement means that the president's health care reform project, estimated to cost around
Published 14 Jun, 2009 12:00am
Auction for bankrupt Filene's heats up

Auction for bankrupt Filene's heats up

The auction for Filene's Basement was adjourned until Monday, the restructuring expert advising Filene's said on Friday, as rival bidders upped the ante over who will ultimately own the Boston-based discount department store. Men's Wearhouse Inc and Crown
Published 14 Jun, 2009 12:00am
Koenigsegg owner confirms Saab interest: report

Koenigsegg owner confirms Saab interest: report

One of the main owners of Sweden's Koenigsegg Automotive AB has confirmed that the luxury sports car maker is among the final bidders for General Motor Corp's Saab unit. Baard Eker, who did not return phonecalls seeking comment Saturday, told Norwegian ta
Published 14 Jun, 2009 12:00am
Firm alleges stolen code used in Chinese filtering software

Firm alleges stolen code used in Chinese filtering software

A California company claims the Internet-filtering software China has mandated for all new personal computers sold there contains stolen programming code. Solid Oak Software of Santa Barbara says parts of its filtering software, which is designed for pare
Published 14 Jun, 2009 12:00am
Former Siemens manager charged with breach of trust

Former Siemens manager charged with breach of trust

German prosecutors have charged a former top-ranking Siemens AG manager with breach of trust for his alleged role in a widespread corruption scandal at the Munich-based industrial conglomerate. Anton Winkler, a spokesman for Munich prosecutors, says charg
Published 14 Jun, 2009 12:00am
G8 finance chiefs urge caution on recovery

G8 finance chiefs urge caution on recovery

G8 finance chiefs on Saturday warned the global economic outlook remained uncertain and risky despite "signs of stabilisation" after talks in southern Italy. "There are signs of stabilisation in our economies... but the situation remains uncertain and sig
Published 14 Jun, 2009 12:00am
Pope's new encyclical will focus on economy

Pope's new encyclical will focus on economy

Pope Benedict XVI said Saturday his new encyclical on the economy and labour issues will focus on ways to make globalisation more careful to the needs of the poor amid the world-wide financial crisis. The document will outline the goals and values that th
Published 14 Jun, 2009 12:00am
Thousands of trucks stuck at Saudi border: agency

Thousands of trucks stuck at Saudi border: agency

Thousands of trucks have been held up at the border between Saudi Arabia and the United Arab Emirates because of Saudi border formalities, the UAE's official news agency WAM said on Saturday. WAM said drivers were queuing in temperatures of up to 45 degre
Published 14 Jun, 2009 12:00am
Russia's WTO entry not until 2011: finance minister

Russia's WTO entry not until 2011: finance minister

Russia is unlikely to join the World Trade Organisation before the middle of 2011 under its new scheme to take membership along with Belarus and Kazakhstan, Russian Finance Minister Alexei Kudrin said on Friday. Prime Minister Vladimir Putin said this wee
Published 14 Jun, 2009 12:00am
New Moroccan party leads in local elections

New Moroccan party leads in local elections

A new Moroccan political party grouping King Mohammed's staunchest supporters has won most seats in local elections, preliminary official results showed on Saturday. With more than 80 percent of seats counted, the Authenticity and Modernity Party (PAM) ha
Published 14 Jun, 2009 12:00am
Chinese sub smashes US destroyer's sonar: report

Chinese sub smashes US destroyer's sonar: report

A Chinese submarine collided with an underwater sonar array towed by the destroyer USS John S. McCain off the coast of the Philippines, CNN television said, quoting a US official who said it was an "inadvertent encounter." The array, used to locate underw
Published 14 Jun, 2009 12:00am
Nato warship rescues Indian sailors freed by pirates

Nato warship rescues Indian sailors freed by pirates

A Nato warship picked up fourteen Indian sailors off Somalia on Saturday, a day after they were freed by pirates who had beaten them during 10 days of captivity. The pirates released the weakened crew of the dhow Vishvakalyan on Friday after stealing prov
Published 14 Jun, 2009 12:00am
Forty vie to unseat Afghanistan's Karzai

Forty vie to unseat Afghanistan's Karzai

Afghanistan's election commission published on Saturday the final list for the August 20 presidential election, launching a campaign in which 40 challengers will face an uphill climb to topple incumbent Hamid Karzai. Karzai has ruled since the ouster of t
Published 14 Jun, 2009 12:00am
Man 'cooked' to death in Australian prison van

Man 'cooked' to death in Australian prison van

The family of an Australian Aboriginal elder who died after being "cooked" in the back of a scorching hot prison van may sue after a coroner branded his treatment inhumane, they said Saturday. A coroner Friday described the treatment of the 46-year-old ma
Published 14 Jun, 2009 12:00am
Iraq holds funeral for murdered lawmaker

Iraq holds funeral for murdered lawmaker

Iraq buried a murdered Sunni Muslim leader on Saturday in the first formal state funeral held by the government since the US-led invasion in 2003. Harith al-Ubaidi, head of the biggest Sunni bloc in parliament and a leading human rights advocate, was shot
Published 14 Jun, 2009 12:00am
Furious Mousavi says Iran vote result a fix

Furious Mousavi says Iran vote result a fix

Moderate candidate Mirhossein Mousavi said he "strongly protested" against what he described as many violations in Iran's presidential election, in a statement made available to Reuters on Saturday. Mousavi lost Friday's vote by a landslide to hard-line P
Published 14 Jun, 2009 12:00am
Chavez, Ortega chide Obama over 'stuck' Latam policy

Chavez, Ortega chide Obama over 'stuck' Latam policy

The presidents of Venezuela and Nicaragua, both fierce critics of US policy, on Friday accused President Barack Obama of failing to deliver on his promise to make a new start in ties with Latin America. Venezuela's Hugo Chavez and Nicaragua's Daniel Orteg
Published 14 Jun, 2009 12:00am
Sri Lanka seeks post-war aid from UAE: foreign minister

Sri Lanka seeks post-war aid from UAE: foreign minister

Sri Lanka on Saturday sought aid from the United Arab Emirates to rebuild swathes of land devastated by the near four decades long ethnic war with the Tamil Tigers. Foreign Minister Rohitha Bogollagama, who made the request to his visiting UAE counterpart
Published 14 Jun, 2009 12:00am
India's stars vie for top honours at 'Bollywood Oscars'

India's stars vie for top honours at 'Bollywood Oscars'

India's brightest movie stars will vie for top honours at the "Bollywood Oscars" Saturday night, the climax of an annual extravaganza for the Hindi film industry. The ceremony, which concludes the three-day International Indian Film Academy (IIFA) event a
Published 14 Jun, 2009 12:00am
French workers stage nationwide protests

French workers stage nationwide protests

Factory workers and civil servants headed up marches across France on Saturday in a new union-led protest over President Nicolas Sarkozy's handling of the economic crisis. France's eight main unions staged their fifth day of action this year to demand str
Published 14 Jun, 2009 12:00am
Vietnam Finance Academy staff caught gambling: report

Vietnam Finance Academy staff caught gambling: report

Lecturers and other officials from communist Vietnam's Finance Academy were arrested by police for allegedly gambling on cards, a newspaper reported Saturday. The Ministry of Finance academy trains people to work in the government and private financial se
Published 14 Jun, 2009 12:00am
India central bank deputy sees no steep fall in rates

India central bank deputy sees no steep fall in rates

Long-term interest rates in India are unlikely to come down drastically as the economy needs to raise its savings rate to sustain a growth rate of 8 percent, a designated deputy governor of the central bank said. India's high savings rate of 35 percent is
Published 14 Jun, 2009 12:00am
Costa Rica sees larger coffee harvest

Costa Rica sees larger coffee harvest

Costa Rica is likely to produce 1.725 million 60-kg bags of coffee in the 2009/10 season, a 6.1 percent increase from the previous harvest, the head of the country's coffee institute said on Friday. Ronald Peters, the head of Icafe, told Reuters in an int
Published 14 Jun, 2009 12:00am
Wholesale grain market closed

Wholesale grain market closed

The wholesale grain and oilseed markets were closed on Saturday to mourn the martyrdom of Dr Sarfraz Naimi.
Published 14 Jun, 2009 12:00am
No business witnessed on cotton market

No business witnessed on cotton market

Not a single deal was reported on the cotton market on Saturday as all the commercial centres were closed to mourn the martyrdom of noted religious scholar Dr Sarfraz, dealers said. The official spot rate did not show any change at Rs 3,500; they said.
Published 14 Jun, 2009 12:00am
Oil cake market rates

Oil cake market rates

Both the futures showed no change on the forward cottonseed oil cake market on Friday, dealers said. The July vaida commenced at Rs 985.60 and the December contract also opened at Rs 880.10, they said.
Published 14 Jun, 2009 12:00am
FOB Gulf steady demand supports corn

FOB Gulf steady demand supports corn

US corn export premiums at the Gulf of Mexico were steady to firm on Friday on continued solid demand mostly from regular customers, while soyabean and wheat basis offers were flat amid a lack of demand, traders said. US corn prices FOB Gulf eased this we
Published 14 Jun, 2009 12:00am
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