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Print - 2009-06-26
Call to strengthen institutions

Call to strengthen institutions

Senior Political Assistant to Chief Minister and senior PML-N leader Muhammad Pervez Malik called for the strengthening of institutions, instead of persons. The PML-N leader said that one man's decisions, during the rule of Pervez Musharraf, had inflicted
Published 26 Jun, 2009 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Thursday (June 25, 2009).

Published 26 Jun, 2009 12:00am
Aptma urges FBR to take notice of misleading reports

Aptma urges FBR to take notice of misleading reports

All Pakistan Textile Mills Association (Aptma) has urged the Chairman, Federal Board of Revenue (FBR), to take notice of misleading reports against industry on alleged tax evasion. While taking strong exception to the misperception of Regional Tax Office
Published 26 Jun, 2009 12:00am
Making acquisition easier

Making acquisition easier

With rising non-performing loans and a growing number of businesses becoming sick, due to exogenous factors or management weaknesses, it is indeed a challenge for economic managers to ensure that businesses do not shut down and employees laid off.
Published 26 Jun, 2009 12:00am
Strong case for nuclear autarky

Strong case for nuclear autarky

aPrime Minister Yousuf Raza Gilani has asked the United States to help Pakistan develop its civilian nuclear technology. Inaugurating the 34th Nathiagali Summer College on Physics and Contemporary needs on Monday, he said if Washington could cooperate wit
Published 26 Jun, 2009 12:00am
The Weather

The Weather

The weather report on Thursday (June 25, 2009) and the forecast for Friday (June 26, 2009).

Published 26 Jun, 2009 12:00am
Developing Karachi with self-help

Developing Karachi with self-help

As revealed in a press release issued by City District Government Karachi (CDGK), addressing a huge gathering of employees of the City Government Karachi, its subsidiaries and town administrations, City Nazim Syed Mustafa Kamal floated the novel idea of e
Published 26 Jun, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (June 25, 2009).

Published 26 Jun, 2009 12:00am
Budget 2009-2010: an appraisal

Budget 2009-2010: an appraisal

Before analysing the budget, it would be useful to have a look at the state of economy. The following is the performance of some of the key economic indicators recorded during the outgoing fiscal year, according to Economic Survey of Pakistan 2008-09:
Published 26 Jun, 2009 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 23, 2009.

Published 26 Jun, 2009 12:00am
Budget 2009-2010: an appraisal

Budget 2009-2010: an appraisal

Before analysing the budget, it would be useful to have a look at the state of economy. The following is the performance of some of the key economic indicators recorded during the outgoing fiscal year, according to Economic Survey of Pakistan 2008-09:
Published 26 Jun, 2009 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 23, 2009.

Published 26 Jun, 2009 12:00am
Budget 2009-2010: an appraisal

Budget 2009-2010: an appraisal

Before analysing the budget, it would be useful to have a look at the state of economy. The following is the performance of some of the key economic indicators recorded during the outgoing fiscal year, according to Economic Survey of Pakistan 2008-09:
Published 26 Jun, 2009 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 23, 2009.

Published 26 Jun, 2009 12:00am
Drug trafficking and black economy

Drug trafficking and black economy

The successive governments in Pakistan provided money-laundering schemes to the black economy (although these were termed as good economic measures to dig out black money). Our drug barons hardly need any international channels for money laundering becaus
Published 26 Jun, 2009 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 26 Jun, 2009 12:00am
Unsung heroes

Unsung heroes

There are scores of people in Pakistan who have over the years contributed honestly and dedicatedly, but have remained unnoticed. Through these columns, I wish to request all newspapers and TV channels to institute programmes to highlight the services of
Published 26 Jun, 2009 12:00am
Laudable

Laudable

After a long persistent demand made by the residents of Gulistan-e-Jauhar, Karachi, the HBL management have annexed the neighbouring shop to their existing branch in Balock-18 of Gulistan-e-Jauhar, due to which the bank branch has now become more spacious
Published 26 Jun, 2009 12:00am
No step taken to shift families from Pucca Qila

No step taken to shift families from Pucca Qila

Heavy rains with thunderstorm and gushing winds are expected during current monsoon season, however, the destiny of the 260 families whose houses are located along with wall of Pucca Qila Hyderabad remained in doldrums as no step has so far been taken to
Published 26 Jun, 2009 12:00am
SHC adjourns hearing of petition on Bachat Bazaar

SHC adjourns hearing of petition on Bachat Bazaar

A division bench of the High Court of Sindh (SHC) comprising Justice Athar Saeed and Justice Safdar Ali Bhutto on Thursday adjourned a petition concerning weekly low price (Bachat Bazar) on the request of the licence holder giving him time to become an in
Published 26 Jun, 2009 12:00am
PEC delegation visits UAF

PEC delegation visits UAF

Innovative and novel initiatives, based on food engineering, bio-technology and environmental engineering, were the dire need of the hour to transform our traditional agricultural practices into mechanised farming, to enhance agricultural productivity by
Published 26 Jun, 2009 12:00am
Exhibition of Norwegian, Pakistani wedding costumes at Lok Virsa

Exhibition of Norwegian, Pakistani wedding costumes at Lok Virsa

The exhibition of Norwegian and Pakistani wedding costumes was opened here held at Lok Virsa Heritage Museum here on Thursday. Robert Kvile, Ambassador, Royal Norwegian Embassy was the chief guest on the occasion. Executive Director, Lok Virsa Khalid Java
Published 26 Jun, 2009 12:00am
Rains with thunderstorm forecast for Sindh

Rains with thunderstorm forecast for Sindh

Rain with thunderstorm and gushing winds is expected during the next 24 in various parts of the province of Sindh including Karachi according to forecast issued by the Met Office here on Thursday. According to Met Office, moderate rain was also recorded i
Published 26 Jun, 2009 12:00am
95 percent never get chance to travel abroad: Gallup

95 percent never get chance to travel abroad: Gallup

Ninety five percent have never had a chance to travel outside Pakistan, only five percent said they have gone abroad, said Gilani Research Foundation survey carried out by Gallup Pakistan. According to survey, amongst those who have travelled overseas, ma
Published 26 Jun, 2009 12:00am
Political parties urged to unite to control Swat situation

Political parties urged to unite to control Swat situation

Senator, Haji Muhammad Adeel, has said that all the political parties would go ahead with effective implementation of law and order situation in Swat. Talking to private TV channel he said that they would eliminate terrorism in different phases. Repatriat
Published 26 Jun, 2009 12:00am
Banks instructed to accept Hajj applications

Banks instructed to accept Hajj applications

Ministry of Religious Affairs has directed the banks to accept Haj application forms according to the instructions. According to the spokesman of Joint Secretary (Haj) Ministry of Religious Affairs, Aftab ul Islam has said that it has come to the notice o
Published 26 Jun, 2009 12:00am
Torture by state agents remains endemic: HRCP

Torture by state agents remains endemic: HRCP

The use of torture by state agents remains endemic despite Islamabad's signing of the convention against torture and this situation must end, the Human Rights Commission of Pakistan (HRCP) has said. In a statement issued on the eve of International day in
Published 26 Jun, 2009 12:00am
Asian countries must build new partnership in services

Asian countries must build new partnership in services

South Asia needs to take advantage of its geographical proximity and build new partnership in services which will not only foster the process of regional integration but also help Saarc to achieve the objectives for which it was created.
Published 26 Jun, 2009 12:00am
SCCI chief expresses concern over load shedding

SCCI chief expresses concern over load shedding

The major trade bodies, including Sialkot Chamber of Commerce and Industry (SCCI), expressed their deep concern over the long and unscheduled load shedding of electricity.
Published 26 Jun, 2009 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

US gold futures rose on Thursday, tracking oil's gains as the market took a breather and looked for trading cues from the relatively calm currency market. August gold up $3.30, or 1.1 percent, at $937.70 an ounce at 10:03 am EDT (1403 GMT) on the COMEX di
Published 26 Jun, 2009 12:00am
US MIDDAY: soyabeans climb, wheat down

US MIDDAY: soyabeans climb, wheat down

Chicago Board of Trade soyabeans and soyameal rose to one-week highs early Thursday, with meal leading the way on USDA's confirmation of strong export sales from last week, traders said. July soybeans were up 13 cents at $11.98 a bushel early and July soy
Published 26 Jun, 2009 12:00am
US MIDDAY: copper higher

US MIDDAY: copper higher

US copper futures rose to their highest levels in nearly two weeks Thursday morning, as technical momentum kicked in after prices took out the previous session's highs, setting the stage for further gains ahead of the second quarter's end next week.
Published 26 Jun, 2009 12:00am
Gold extends gain towards $940 in London

Gold extends gain towards $940 in London

Gold climbed on Thursday, probing towards $940, as its inverse correlation with the dollar gave way to short covering after a surprise rise in US jobless claims damped risk appetite. Spot gold stood at $938.10 per ounce at 1630 GMT, up from $931.10 quoted
Published 26 Jun, 2009 12:00am
US MIDDAY: sugar jumps; coffee and cocoa fall

US MIDDAY: sugar jumps; coffee and cocoa fall

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Thursday. September arabica coffee contract down 0.75 cent at $1.1840 per lb at 11:01 am EDT (1501 GMT). Session range from $1.1955 to $1.1755, the lowest for the second position sin
Published 26 Jun, 2009 12:00am
Robusta coffee plummets in London

Robusta coffee plummets in London

Robusta coffee futures on Liffe fell to record lows on Thursday as investor selling triggered stops, while raw sugar on ICE rose with July particularly strong ahead of next week's expiry, dealers said. Cocoa prices were sharply higher with prices in Londo
Published 26 Jun, 2009 12:00am
Oil surges on Nigeria attack

Oil surges on Nigeria attack

Oil prices rose sharply to above $70 a barrel on Thursday on renewed rebel attacks against oil facilities in Nigeria and worries that a glitch at the largest US oil refinery could tighten gasoline stockpiles this summer driving season. Crude also got a li
Published 26 Jun, 2009 12:00am
Copper turns positive

Copper turns positive

Copper rose on Thursday to track Wall Street gains, as data showing US GDP contracted less than expected boosted sentiment and eclipsed weak jobs data. Copper for three-month delivery on the London Metal Exchange closed at $5,130 a tonne from $5,055 at th
Published 26 Jun, 2009 12:00am
New York cotton ends higher

New York cotton ends higher

Cotton futures finished firmer on Thursday on fund short-covering in tepid business as players looked toward the release of a key government plantings report due next week, brokers said. The new-crop December cotton contract gained 0.67 cent to settle at
Published 26 Jun, 2009 12:00am
Sri Lanka invites FCCI trade delegation

Sri Lanka invites FCCI trade delegation

Pakistani business community would get benefits from Duty Free Access (DFA) for more than 7,200 products in European Union and Indian markets through Sri Lanka, said Sri Lankan High Commissioner, Air Chief Marshal Jayalath Weerakkody.
Published 26 Jun, 2009 12:00am
Swiss franc under pressure again in London

Swiss franc under pressure again in London

The euro and the dollar rose against the Swiss franc on Thursday as traders remained jittery about possible intervention by the Swiss National Bank to weaken its domestic currency. The dollar was underpinned after the Federal Reserve did not expand its pr
Published 26 Jun, 2009 12:00am
Pound falls versus euro and dollar

Pound falls versus euro and dollar

Sterling fell against the dollar and euro on Thursday as caution about Britain's economic outlook and weak share prices weighed on sentiment. Equity markets were broadly lower, with London's FTSE stock index down more than 1.0 percent in afternoon trade.
Published 26 Jun, 2009 12:00am
Euro Libor's biggest fall in six months

Euro Libor's biggest fall in six months

The bank-to-bank cost of borrowing euros fell by the most in six months on Thursday and analysts expect further falls in months ahead as the European Central Bank's latest liquidity boost takes effect. London interbank offered rates (Libor) for three-mont
Published 26 Jun, 2009 12:00am
Fashion model allowed to appear before magistrate today

Fashion model allowed to appear before magistrate today

Lahore High Court (LHC) here on Thursday allowed fashion model and television star Khushbakht Mirza alias Sofia Mirza to appear before magistrate concerned today (Friday) to seek concession of bail in a case of cheque bounce registered with Karachi police
Published 26 Jun, 2009 12:00am
Indian rupee erases gains

Indian rupee erases gains

The Indian rupee ended slightly weaker on Thursday, surrendering early gains as the stock market turned negative and as importers bought dollars to meet month-end commitments. The partially convertible rupee ended a choppy session at 48.595/605 per dollar
Published 26 Jun, 2009 12:00am
PTCL gives Rs three million to cricket team

PTCL gives Rs three million to cricket team

Pakistan Telecommunication Company Ltd (PTCL) gave Rs three million cash prize to the national cricket team for winning T-20 World Cup. As per details, a ceremony was arranged in the honour of the Pakistan Cricket team here on Thursday in the presence of
Published 26 Jun, 2009 12:00am
Zardari holds a reception in honour of cricket team

Zardari holds a reception in honour of cricket team

President Asif Ali Zardari on Thursday said that with hard work and dedication the Pakistani youth could surmount every challenge they might encounter. Speaking at a reception in honour of the Pakistan cricket team that won laurels for the country, Presid
Published 26 Jun, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

By clinching the World T-20 title, Pakistani cricket team gave the nation an eagerly-awaited joy. This laudable victory becomes more significant for a country where the morale of the nation is down and hopes are literally sunk in tears.
Published 26 Jun, 2009 12:00am
Justice Najam takes oath as acting LHC CJ

Justice Najam takes oath as acting LHC CJ

Justice Najam-uz-Zaman here on Thursday took oath as an Acting Chief Justice of Lahore High Court (LHC). Governor Punjab Salman Taseer administrated oath to Justice Najam-uz-Zaman in a simple but impressive ceremony held in governor house. The ceremony wa
Published 26 Jun, 2009 12:00am
President and Prime Minister discuss constitutional reforms

President and Prime Minister discuss constitutional reforms

President Asif Ali Zardari and Prime Minister Syed Yousaf Raza Gilani held a meeting at the Presidency and discussed the matters relating constitutional reforms and political situation in the country. Spokesperson of the President Farhatullah Babar said t
Published 26 Jun, 2009 12:00am
Balochistan free of poppy cultivation, says Rind

Balochistan free of poppy cultivation, says Rind

Pakistan has successfully eradicated poppy cultivation from Balochistan province while due to bad law and order situation in Fata and certain parts of NWFP, cultivation of poppy was reported, said Secretary, Ministry of Narcotics Control, KB Rind, here on
Published 26 Jun, 2009 12:00am
Nespak to build 11-storey parking plaza

Nespak to build 11-storey parking plaza

National Engineering Services Pakistan (Nespak) has prepared a detailed design for an 11-storey parking plaza which is being built at Jhika Gali in Murree by the government of Punjab. Estimated cost of this parking plaza is Rs 1.3 billion, the parking pla
Published 26 Jun, 2009 12:00am
Investigation police arrest three culprits

Investigation police arrest three culprits

The Investigation Police Civil Lines have apprehended three culprits of Nauman alias Nomy Shah gang involved in multiple acts of robbery, dacoity and street crimes and have recovered five cell phones, 16,000 cash, telephone wire worth rupees 20 thousand a
Published 26 Jun, 2009 12:00am
Planning for safe return of IDPs under way

Planning for safe return of IDPs under way

United Nations agencies taking care of Internally Displaced Persons (IDPs) have started preparing a framework for safe repatriation of IDPs to their respective areas. "We emphasise an organised repatriation and safe return of IDPs to their homes," said Ma
Published 26 Jun, 2009 12:00am
Anti-narcotics day today

Anti-narcotics day today

Like other parts of the world, 'the International Day against Drug Abuse and Illicit Drug Trafficking', is celebrated on June 26, throughout Pakistan. It was pledged that efforts would continue to achieve the goal of a narcotics- free society. The risk of
Published 26 Jun, 2009 12:00am
Zardari asks US to provide drones technology

Zardari asks US to provide drones technology

President Asif Ali Zardari asked the US to give drones technology to Pakistan for boosting its indigenous capacity to eliminate the militants from its soil, as he also called for more assistance to the country. The President said this while talking to Gen
Published 26 Jun, 2009 12:00am
UK's top share index falls

UK's top share index falls

Britain's blue chip share index ended down 0.6 percent on Thursday, led by banks after a trading update from Standard Chartered failed to excite investors while commodity stocks were also under pressure. The FTSE 100 closed down 27.41 points at 4,252.57,
Published 26 Jun, 2009 12:00am
Indian shares down

Indian shares down

Indian shares shed 0.53 percent on Thursday, as fears of a delay in the monsoon hit sentiment, even as investors rolled over positions at the expiry of the monthly futures contract, dealers said. The benchmark 30-share Sensex fell 77.11 points to 14,345.6
Published 26 Jun, 2009 12:00am
European CDS spreads edge wider

European CDS spreads edge wider

European credit spreads were slightly wider on Thursday, while new issuance showed signs of moderating in the primary market. By 1529 GMT, the investment-grade Markit iTraxx Europe index was at 121.94 basis points, according to data from Markit, 0.94 basi
Published 26 Jun, 2009 12:00am
Thursday's early afternoon trade: market rises with auction demand

Thursday's early afternoon trade: market rises with auction demand

US stocks rose sharply on Thursday after the latest Treasury auction garnered strong demand, pressuring bond yields, while consumer discretionary shares gained. The auction of $27 billion of 7-year notes completed this week's sales of Treasury coupons, wi
Published 26 Jun, 2009 12:00am
European CDS spreads edge wider

European CDS spreads edge wider

European credit spreads were slightly wider on Thursday, while new issuance showed signs of moderating in the primary market. By 1529 GMT, the investment-grade Markit iTraxx Europe index was at 121.94 basis points, according to data from Markit, 0.94 basi
Published 26 Jun, 2009 12:00am
Tropical storm kills eight in Philippines; eight missing

Tropical storm kills eight in Philippines; eight missing

A tropical storm whipped up tornadoes, triggered landslides and overturned boats as it cut across the central Philippines, leaving at least eight dead and eight more missing amid widespread flooding, officials said Thursday. Tropical Storm Nangka, with wi
Published 26 Jun, 2009 12:00am
Honduran military chiefs quit

Honduran military chiefs quit

The Honduran president warned that his country's stability is at risk after the attorney general called for his ouster and the military chiefs resigned over an upcoming national referendum on constitutional reforms. President Manuel Zelaya said he would s
Published 26 Jun, 2009 12:00am
EU ministers make nuclear safety rules binding

EU ministers make nuclear safety rules binding

EU environment ministers on Thursday agreed to make international safety rules on nuclear power stations legally binding, a move which Brussels hailed as a model for the rest of the world. While the EU becomes the "first major regional nuclear actor" to m
Published 26 Jun, 2009 12:00am
Israel reduces control of four West Bank towns

Israel reduces control of four West Bank towns

Bowing to pressure from Washington, Israel granted US-trained Palestinian security forces greater autonomy in four major West Bank cities, Israeli and Palestinian defence officials said Thursday. The ability of Palestinian security forces to maintain law
Published 26 Jun, 2009 12:00am
Kyrgyz lawmakers back deal to keep US base open

Kyrgyz lawmakers back deal to keep US base open

Kyrgyzstan's parliament unanimously approved a deal Thursday allowing the US to continue using an air base crucial to military operations in Afghanistan, sharply shifting course months after ordering American forces out by August. Lawmakers voted 75-0 to
Published 26 Jun, 2009 12:00am
Nato and Russia tensions flare at security summit

Nato and Russia tensions flare at security summit

Tensions between Nato and Russia burst into the open again Thursday at a regional security summit in the Kazakh capital which was marred by undiplomatic comments by Moscow's envoy to the alliance. Russia's outspoken ambassador to Nato, Dmitry Rogozin, sto
Published 26 Jun, 2009 12:00am
Somali rebels amputate limbs; US sends weapons

Somali rebels amputate limbs; US sends weapons

Washington has sent weapons to Somalia's government to thwart Islamist insurgents, who cut hands and feet off thieves on Thursday and paraded the severed limbs in the streets of Mogadishu. Somalia's al Shabaab insurgents are seen as a proxy for al Qaeda a
Published 26 Jun, 2009 12:00am
Lebanon assembly re-elects Nabih Berri as speaker

Lebanon assembly re-elects Nabih Berri as speaker

Lebanon's parliament on Thursday elected Nabih Berri as speaker for the coming four years, extending his 17-year leadership of the chamber in a vote that underlined improved ties between rival politicians. Berri, an ally of the military and political move
Published 26 Jun, 2009 12:00am
North Koreans mass at rally to denounce sanctions

North Koreans mass at rally to denounce sanctions

Tens of thousands of North Koreans shouted slogans to denounce international sanctions at a rally in central Pyongyang on Thursday, as the communist country vowed to enlarge its atomic arsenal and warned of a ``fire shower of nuclear retaliation' in the e
Published 26 Jun, 2009 12:00am
Briton details claim of torture in Bangladesh

Briton details claim of torture in Bangladesh

A Briton who claims to have been tortured in Bangladesh with the complicity of MI5 agents said Thursday he was accused of organising the 2005 London suicide bombings, and threatened with rape. Jamil Rahman, who says he faced repeated beatings by Banglades
Published 26 Jun, 2009 12:00am
Ten Czechs die as floods hit central Europe

Ten Czechs die as floods hit central Europe

Torrential downpours unleashed devastating floods in several central European countries, taking the death toll Thursday to at least 10 people amid extensive damage in eastern Czech Republic. The deluge also hit Romania, where four people were injured by l
Published 26 Jun, 2009 12:00am
Rock from India dates from Earth birth found

Rock from India dates from Earth birth found

German geologists said Thursday they have discovered in India some of the world's rarest rock, dating back to the birth of the planet when the Earth was covered with a hot ocean of melted stone.The fragment from the primeval crust is only the second ever
Published 26 Jun, 2009 12:00am
British troops 'clear Taliban stronghold'

British troops 'clear Taliban stronghold'

Troops conducting one of the British military's largest operations in Afghanistan have cleared a Taliban stronghold in the south and are encouraging villagers to return, an officer said Thursday. About 12 British and US Chinook helicopters dropped 350 Bri
Published 26 Jun, 2009 12:00am
Referral system set for October 'roll-out'

Referral system set for October 'roll-out'

Players will be able to challenge officials' decisions in Tests as a matter of course from October onwards, the International Cricket Council (ICC) announced Thursday. A joint meeting of the ICC board and its chief executives' committee at Lord's ratified
Published 26 Jun, 2009 12:00am
Woolmer's son welcomes Pakistan tribute

Woolmer's son welcomes Pakistan tribute

The son of former Pakistan coach Bob Woolmer said Thursday captain Younus Khan's decision to dedicate the World Twenty20 title to his late father was "very sweet and lovely". In a letter to the Pakistan Cricket Board, Dale Woolmer thanked the Pakistan cap
Published 26 Jun, 2009 12:00am
Hewitt, Venus, Li and Safina advance

Hewitt, Venus, Li and Safina advance

Australia's Lleyton Hewitt stunned Argentine fifth seed Juan Martin Del Potro 6-3, 7-5, 7-5 on Thursday to reach the Wimbledon third round. Hewitt, the 2004 champion, will face either Philipp Petzschner or Mischa Zverev, both of Germany, for a place in th
Published 26 Jun, 2009 12:00am
Queen congratulates Murray

Queen congratulates Murray

Queen Elizabeth sent a message of congratulations to Britain's Andy Murray for winning the Queen's tournament and she just happens to have no official engagements on the day of next week's Wimbledon final. The monarch last visited Wimbledon in 1977 to pre
Published 26 Jun, 2009 12:00am
US victory over Spain joins list of great upsets

US victory over Spain joins list of great upsets

The United States' 2-0 victory over European champions Spain in the Confederations Cup semi-finals on Wednesday earned a place on the list of great international upsets. "We all know about the US beating England back in the World Cup in 1950 but this resu
Published 26 Jun, 2009 12:00am
Vision Asia aimed at raising standards of football

Vision Asia aimed at raising standards of football

Vision Asia is the Asian Football Confederation (AFC)'s grand plan for a continent-wide programme to raise the standards of football at all levels, said Vision Asia Director Brendan Menton, here on Thursday. At a presentation, here at FIFA Football House,
Published 26 Jun, 2009 12:00am
Asian currencies: Rupiah gains, Singapore dollar takes cue from euro

Asian currencies: Rupiah gains, Singapore dollar takes cue from euro

The Indonesian rupiah rose on Thursday as investors moved to take profits from the dollar's recent rally against the unit, while other Asian currencies failed to make headway despite firmer regional stock markets. The dollar eased against the euro, a day
Published 26 Jun, 2009 12:00am
Australian dollar lifted on yen

Australian dollar lifted on yen

The Australian dollar bounced on Thursday as gains against a weaker yen gave it a lift, while a sell-off in bond futures pushed the local yield curve to its flattest level in five months. The Aussie climbed against a weaker yen to 76.91 yen, from 75.87 se
Published 26 Jun, 2009 12:00am
Dollar advances after Fed; Swiss franc tumbles

Dollar advances after Fed; Swiss franc tumbles

The dollar rose against the euro and yen on Wednesday after the Federal Reserve gave no indication it was ready to change current measures to revive borrowing and stimulate the economy. The Fed's statement at the end of its two-day policy meeting came aft
Published 26 Jun, 2009 12:00am
Swiss franc regains

Swiss franc regains

The Swiss franc ticked higher against the euro and dollar on Thursday, reversing some losses after traders said the Swiss National Bank had repeatedly intervened in the previous session to prevent a rise in the currency. Both the SNB and the Bank for Inte
Published 26 Jun, 2009 12:00am
Dollar off post-Fed, SNB levels

Dollar off post-Fed, SNB levels

The dollar on Thursday edged off stronger levels hit after the Federal Reserve meeting, while the yen fell as the market weighed up whether to resume rallies in riskier assets. The Fed kept to its debt buyback programme and signalled it was less concerned
Published 26 Jun, 2009 12:00am
Yuan edges down

Yuan edges down

The yuan closed down slightly against the dollar on Thursday after the Federal Reserve's signal it was making no change in its steps to support the economy helped lift the US currency. The Fed kept to its debt buyback programme and signalled it was less c
Published 26 Jun, 2009 12:00am
Hong Kong dollar remains strong

Hong Kong dollar remains strong

The Hong Kong dollar hovered at the top of its trading band against the US dollar for most of Thursday, which might prompt the Hong Kong Monetary Authority (HKMA) to step in again to prevent the local currency from strengthening beyond its fixed range, am
Published 26 Jun, 2009 12:00am
Hong Kong shares surge; China stocks edge up

Hong Kong shares surge; China stocks edge up

Hong Kong shares rose 2.1 percent on Thursday as investors continued to cover short positions on financial counters, while property stocks surged after the US Federal Reserve stuck to its script of keeping borrowing costs low. Top developer Sun Hung Kai P
Published 26 Jun, 2009 12:00am
Thai shares price jump

Thai shares price jump

Thai stocks rose 1.58 percent Thursday in line with other regional markets after the US Federal Reserve decided to maintain its near-zero interest rate, an analyst said. The Stock Exchange of Thailand (SET) composite index gained 9.17 points to close at 5
Published 26 Jun, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 0.10-10.00 percent (previous 0.10-10.00 percent).
Published 26 Jun, 2009 12:00am
Nikkei average climbs 2.2 percent

Nikkei average climbs 2.2 percent

Japan's Nikkei stock index climbed 2.2 percent on Thursday for its best day in over a month, as property shares climbed on expectations for an economic recovery and exporters got a boost from a weaker yen. Aozora Bank and Shinsei Bank soared on news they
Published 26 Jun, 2009 12:00am
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