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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-08-21
Swiss franc flat

Swiss franc flat

The Swiss franc was near flat against the euro after Switzerland's exports beat analysts' expectations in July. The franc was almost unchanged against the euro compared with the New York close, trading at 1.5169 per euro at 0716 GMT. The franc was down 0.
Published 21 Aug, 2009 12:00am
Sterling stays lower

Sterling stays lower

Sterling fell broadly on Thursday, dented by figures showing an unexpectedly sharp deterioration in the UK public finances, which offset firmer-than-expected UK retail sales data. The borrowing figures showed a record deficit for the month of July, the fi
Published 21 Aug, 2009 12:00am
Yen falls in London

Yen falls in London

The yen initially slipped on Thursday as a recovery in Chinese shares raised some risk appetite, but losses were trimmed as markets looked to US equity markets for direction in thinned holiday trade. Currency traders took cues from a 4.5 percent gain in t
Published 21 Aug, 2009 12:00am
Lockerbie bomber freed to return to Libya

Lockerbie bomber freed to return to Libya

Scotland released on Thursday a former Libyan agent jailed for life for the 1988 Lockerbie bombing that killed 270 people, most of them Americans, because he is dying of cancer. Abdel Basset al-Megrahi, who has less than three months to live, was being re
Published 21 Aug, 2009 12:00am
China and Serbia forge strategic alliance

China and Serbia forge strategic alliance

China and Serbia announced Thursday the establishment of a strategic partnership during the first official visit by a Serbian president to the Asian giant, state media said. "Since you took office as Serbian president, you have always valued the China-Ser
Published 21 Aug, 2009 12:00am
China approves Tianwan nuclear plant expansion

China approves Tianwan nuclear plant expansion

China has given the green light to a plan to start building the third phase of its Tianwan nuclear power plant on the east coast from October next year, a government agency has announced. Two new reactors, each with a capacity of one gigawatt, will be bui
Published 21 Aug, 2009 12:00am
Georgia seizes ships visiting rebel Abkhazia region

Georgia seizes ships visiting rebel Abkhazia region

Georgia said Thursday it had seized two cargo ships visiting its rebel Abkhazia region this week, as it steps up efforts to enforce a naval blockade of the Moscow-backed breakaway province. The detentions drew an angry response from Abkhazia's separatist
Published 21 Aug, 2009 12:00am
Swiss president apologises over Gaddafi son's arrest

Swiss president apologises over Gaddafi son's arrest

Swiss President Hans-Rudolf Merz apologised to the Libyan people on Thursday over the arrest in Geneva a year ago of a son of Libyan leader Muammar Gaddafi. "I express to the Libyan people my apologies for the unjust arrest of a Libyan diplomat by Geneva
Published 21 Aug, 2009 12:00am
US raps Israel over limit on Palestinian-Americans

US raps Israel over limit on Palestinian-Americans

The United States has complained to Israel over rules that keep Palestinian-Americans from entering Israel, officials said Thursday. A travel update posted by the US consulate in Jerusalem says that for some time, Israel has not permitted Palestinians who
Published 21 Aug, 2009 12:00am
Britain's defence ministry fails to account for hardware

Britain's defence ministry fails to account for hardware

Auditors have been unable to find 6.6 billion pounds worth of British military equipment including vehicles, weapons and radios used by troops, a report said Thursday. The government has ordered a shake-up at the Ministry of Defence after the auditors fou
Published 21 Aug, 2009 12:00am
EU nations agree to take Gitmo detainees

EU nations agree to take Gitmo detainees

The United States has secured promises from a clutch of European nations to take in detainees held at Guantanamo Bay, bolstering efforts to close the prison, the Washington Post reported Thursday. In total nine European Union countries are in talks to res
Published 21 Aug, 2009 12:00am
Polish army general quits over Afghanistan equipment row

Polish army general quits over Afghanistan equipment row

A Polish army general who criticised Poland's defence ministry over refusing to purchase what he termed essential equipment for Polish troops in Afghanistan, resigned on Thursday. "I'm quitting the army because I have no other choice as a soldier," Genera
Published 21 Aug, 2009 12:00am
CIA hired Blackwater for assassin plan

CIA hired Blackwater for assassin plan

The CIA hired the Blackwater security firm in 2004 to help find and kill al Qaeda leaders, US media said Thursday, citing intelligence officials. The programme, on which the Central Intelligence Agency spent several million dollars, was cut before launchi
Published 21 Aug, 2009 12:00am
Russian Air Force plans huge upgrade

Russian Air Force plans huge upgrade

Russia is to make the largest overhaul of its military aviation in post-Soviet history, its Air Force commander said on Thursday, but admitted the planned modernisation was still a far cry from Soviet times. Russia's creaking military machine contrasts st
Published 21 Aug, 2009 12:00am
Deadly Indian stoning festival banned

Deadly Indian stoning festival banned

A centuries-old festival in which residents from rival Indian villages hurl stones at each other - often leaving people dead or injured - has been banned, an official said Thursday. The annual Gotmar festival in an impoverished central region of the count
Published 21 Aug, 2009 12:00am
Romanian Supreme Court overturns pay cuts for judges

Romanian Supreme Court overturns pay cuts for judges

Romania's Supreme Court said on Thursday it had irrevocably overturned a Finance Ministry decision to cut magistrates' pay, highlighting the battle the government faces in cutting spending to qualify for foreign aid. The court rejected an appeal by the mi
Published 21 Aug, 2009 12:00am
India moves North Korean ship to mainland: coastguard

India moves North Korean ship to mainland: coastguard

A North Korean ship intercepted in Indian waters off the Andaman Islands is being moved to the Indian mainland where investigations will continue, the coast guard said Thursday. The ship was intercepted last week after dropping anchor in Indian territoria
Published 21 Aug, 2009 12:00am
Somalian rebels retake two southern towns

Somalian rebels retake two southern towns

Somalian Islamist al Shabaab insurgents seized back a southern town from pro-government militiamen on Thursday after fighting that killed at least 12 people, witnesses said. Western security agencies say Somalia, which has been torn by civil war for the p
Published 21 Aug, 2009 12:00am
Ahmadinejad dismisses Iran gasoline sanctions talk

Ahmadinejad dismisses Iran gasoline sanctions talk

President Mahmoud Ahmadinejad shrugged off on Thursday the impact of any sanctions targeting Iran's gasoline imports and suggested it would soon be able to meet its own needs, Iranian media reported. US President Barack Obama has given Iran until Septembe
Published 21 Aug, 2009 12:00am
US Army to teach stressed soldiers to 'bounce back'

US Army to teach stressed soldiers to 'bounce back'

Faced with rising rates of suicide and depression, the US Army plans mandatory training for the entire force designed to make soldiers emotionally "resilient." With soldiers suffering under the strain of repeated combat tours, Army commanders have launche
Published 21 Aug, 2009 12:00am
17 dead, 58 still missing in Russian dam disaster: official

17 dead, 58 still missing in Russian dam disaster: official

The death toll from the catastrophic flood that engulfed Russia's biggest hydroelectric power station rose to 17 Thursday but 58 people were still reported missing, officials said. "We have recovered three bodies today," said Irina Butenko, a spokeswoman
Published 21 Aug, 2009 12:00am
Hitler watercolours under the hammer in Germany

Hitler watercolours under the hammer in Germany

Three signed watercolours by Adolf Hitler are to be sold at auction next month in Nuremberg in southern Germany, scene of the Nazi war crimes trials, a local paper said on Thursday. The paintings from 1910 and 1911 are entitled "Zerschossene Muehle" ("Bul
Published 21 Aug, 2009 12:00am
Iran hangs four for murder, drug trafficking

Iran hangs four for murder, drug trafficking

Iran has hanged four men convicted of murder or drug trafficking in the capital Tehran and central city of Isfahan, government newspaper 'Iran' reported on Thursday. The men executed in Tehran's Evin prison on Wednesday were identified as Mehdi, 35, found
Published 21 Aug, 2009 12:00am
Australian Parliament sets renewable energy target

Australian Parliament sets renewable energy target

Australia's Parliament passed a law Thursday requiring that 20 percent of the country's electricity come from renewable sources such as the sun and wind by 2020, matching European standards and up from about 8 percent now. The law would quadruple the rene
Published 21 Aug, 2009 12:00am
Saudi Arabia censors activists' Twitter pages

Saudi Arabia censors activists' Twitter pages

Saudi Arabia has begun blocking the Twitter pages of activists in a move one man targetted says may be a result of Twitter's role in publicising Iran's recent pro-democracy uprising. Human rights lawyer Waleed Abulkhair and businessman Khaled al Nasser sa
Published 21 Aug, 2009 12:00am
22 children injured after schoolbus catches fire in India

22 children injured after schoolbus catches fire in India

At least 22 children were injured Thursday when their schoolbus caught fire in a suburb of India's financial hub Mumbai, police and school officials said.The bus was carrying 38 schoolchildren, mostly aged between 8 and 10, to CKT High School in Navi Mumb
Published 21 Aug, 2009 12:00am
Most Americans say Afghan war not worth fighting

Most Americans say Afghan war not worth fighting

A majority of Americans say the war in Afghanistan is not worth fighting and oppose sending more US troops to fight Islamist insurgents, a poll showed Wednesday. The survey results show US public support sliding for the war as Afghans prepare to vote Thur
Published 21 Aug, 2009 12:00am
Junior Super Hockey League from September 1

Junior Super Hockey League from September 1

Junior Super Hockey League will be played at Hockey Club of Pakistan Karachi from September 1-18. A spokesman of Pakistan Hockey Federation (PHF), said here on Thursday that trials for selecting players for forming six regional teams for PHF Junior Super
Published 21 Aug, 2009 12:00am
New Zealand save follow-on

New Zealand save follow-on

Resolute batting by New Zealand's eighth-wicket pair of Jesse Ryder and Daniel Vettori denied Sri Lanka a follow-on in the first Test here on Thursday. The duo, who came together with the Black Caps still needing 30 runs to avoid the follow-on in the rain
Published 21 Aug, 2009 12:00am
Stars set to grace inaugural Malaysian Open

Stars set to grace inaugural Malaysian Open

An array of some of the best players in men's tennis, including Nikolay Davydenko and Fernando Verdasco, will appear in the inaugural Malaysian Open in September, organisers said Thursday. "We have seven of the top 20 players in the ATP 250 World Tour in
Published 21 Aug, 2009 12:00am
English league clubs slash agent payments

English league clubs slash agent payments

English Football League clubs cut payments to agents by 2.3 million pounds (2.7 million euros) over the last year. A total of 8.8 million pounds (10.1 million euros) was paid to agents by the 72 clubs in the three divisions outside the Premier League betw
Published 21 Aug, 2009 12:00am
South Africa rallies around Semenya as gender storm grows

South Africa rallies around Semenya as gender storm grows

South Africa declared new 800-metre world champion Caster Semenya a "golden girl" Thursday, as the nation rallied around her family to fend off doubts that she is a woman. Front pages in every major newspaper pictured a triumphant Semenya who powered to a
Published 21 Aug, 2009 12:00am
Bell anchors England in Ashes decider

Bell anchors England in Ashes decider

Ian Bell held firm as England advanced to 180 for three at tea on the first day of the fifth and decisive Ashes Test at the Oval here on Thursday. Bell was 72 not out after a second session where England lost both captain Andrew Strauss (55) and Paul Coll
Published 21 Aug, 2009 12:00am
Faisalabad granted regional status to host hockey matches

Faisalabad granted regional status to host hockey matches

Faisalabad has been granted the Regional Status to host the National and International Hockey Test Matches, said Mian Qasim Zia, President, Pakistan Hockey Federation, while talking to Media at Faisalabad Hockey Stadium in Madina Town here.
Published 21 Aug, 2009 12:00am
Manchester United suffer shock defeat

Manchester United suffer shock defeat

Burnley celebrated their first home match in the top division for 33 years with a shock 1-0 victory over Premier League champions Manchester United at Turf Moor on Wednesday. Robbie Blake struck a superb volley from outside the box in the 19th minute and
Published 21 Aug, 2009 12:00am
Maldives seeks assistance in sports development

Maldives seeks assistance in sports development

High Commissioner of Maldives, Dr Aishath Shehnaz Adam called on Federal Minister for Sports, Pir Aftab Hussain Shah Jillani in his office here Thursday. The discussed matters relating to strengthening the relations between Pakistan and Maldives in Sports
Published 21 Aug, 2009 12:00am
Asian currencies: ringgit and rupiah rise

Asian currencies: ringgit and rupiah rise

The Malaysian ringgit and Indonesian rupiah rose against the dollar on Thursday in step with firmer local stocks, while the Philippine peso held steady ahead of the central bank's rate decision. Asian stocks received a boost as Shanghai stocks rebounded f
Published 21 Aug, 2009 12:00am
Dollar declines in New York

Dollar declines in New York

The dollar fell against the euro and a basket of currencies on Wednesday as a rebound on Wall Street reduced safe-haven demand for the US currency. But the dollar weakened against the yen, although it came off the day's worst levels as a sharp slide in Ch
Published 21 Aug, 2009 12:00am
Yen lower in Asian market

Yen lower in Asian market

The yen slipped on Thursday, extending losses from the previous day as Asian share markets gained, encouraging market players to buy back higher yielding and commodity-linked currencies in the short term. With volumes thin due to holidays in the northern
Published 21 Aug, 2009 12:00am
Yuan higher

Yuan higher

The yuan closed firmer against the dollar on Thursday after China's central bank set a stronger reference rate and local shares stormed higher. Before trade began, the central bank fixed the yuan's daily mid-point, or reference rate, at 6.8318 versus the
Published 21 Aug, 2009 12:00am
South Korea won up

South Korea won up

The South Korean won rose against the dollar on Thursday as a jump in Chinese shares lent support to regional markets and other risky assets, but gains were limited by a foreign sell-off of local shares. The won ended the session at 1,246.7/7.0 per dollar
Published 21 Aug, 2009 12:00am
Hong Kong dollar regains some lost ground

Hong Kong dollar regains some lost ground

The Hong Kong dollar regained a little ground against the US dollar on Thursday, helped by a rebound in the stock market. The local currency firmed to 7.7512, recovering from a 10-week low of 7.7522 against the US dollar in the previous session. Hong Kong
Published 21 Aug, 2009 12:00am
Hong Kong shares make gains

Hong Kong shares make gains

Hong Kong share prices closed up 1.88 percent on Thursday tracking gains in Shanghai, dealers said. The benchmark Hang Seng Index added 374.63 points to close at 20,328.86 on turnover worth 57.22 billion Hong Kong dollars (7.38 billion US). Gains were led
Published 21 Aug, 2009 12:00am
Bangladesh interbank rates

Bangladesh interbank 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: 0.10-3.50 percent (previous 0.10-3.00 percent).
Published 21 Aug, 2009 12:00am
Nikkei ends up 1.8 percent

Nikkei ends up 1.8 percent

Japan's Nikkei average climbed 1.8 percent on Thursday to bounce back from a three-week closing low, with investors encouraged by a rebound in Chinese shares and gains in resource shares after crude oil surged. Truckmakers' shares climbed after a brokerag
Published 21 Aug, 2009 12:00am
Jakarta shares rally

Jakarta shares rally

Indonesian shares ended 2.23 percent higher on Thursday, led by bargain buying by local funds in commodity-related stocks on the back of higher oil prices, dealers said. The Jakarta Composite Index rose 50.88 points to 2,328.63 in moderate trade. "The mai
Published 21 Aug, 2009 12:00am
Thai share prices close 1.54 percent higher

Thai share prices close 1.54 percent higher

The Thai stock market closed 1.54 percent higher on Thursday, tracking gains on regional markets after a rally in oil prices, an analyst said. The Stock Exchange of Thailand (SET) composite index rose 9.70 points to close at 640.98, while the blue chip SE
Published 21 Aug, 2009 12:00am
Singapore shares surge

Singapore shares surge

Singapore shares closed 1.46 percent higher on Thursday, cheered by gains in Chinese stocks, dealers said. The blue chip Straits Timex Index (STI) climbed 36.79 points to 2,559.57 as it rebounded from the previous day's loss. Volume totalled 2.35 billion
Published 21 Aug, 2009 12:00am
Seoul shares led by banks and carmakers

Seoul shares led by banks and carmakers

Seoul shares rose on Thursday with gains fueled by banks including Shinhan Financial Group, while technology issues and automakers such as Hyundai Motor extended their rally. The Korea Composite Stock Price Index (KOSPI) finished up 1.97 percent at 1,576.
Published 21 Aug, 2009 12:00am
US bonds gain

US bonds gain

US Treasury debt prices rose on Wednesday as persistent doubts about the staying power of any economic recovery pushed some investors into lower-riskk assets like government debt. But as US stocks recovered from an initial stumble following steep losses i
Published 21 Aug, 2009 12:00am
US bonds gain

US bonds gain

US Treasury debt prices rose on Wednesday as persistent doubts about the staying power of any economic recovery pushed some investors into lower-riskk assets like government debt. But as US stocks recovered from an initial stumble following steep losses i
Published 21 Aug, 2009 12:00am
US stocks up

US stocks up

US stocks rose on Wednesday, shaking off a slide in China's equity market, as investors responded favourably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook. Exxon Mobil Corp and Chevron Corp, both Dow component
Published 21 Aug, 2009 12:00am
Chinese shares close up 4.52 percent

Chinese shares close up 4.52 percent

Chinese shares rebounded on Thursday, closing up 4.52 percent, with oil majors leading the gains following an overnight rally in crude prices, dealers said. The Shanghai Composite Index, which covers A and B shares, was up 126.00 points at 2,911.58 on tur
Published 21 Aug, 2009 12:00am
Taiwan stocks end at five-week low

Taiwan stocks end at five-week low

Taiwan stocks fell 0.82 percent on Thursday to a five-week closing low as political uncertainty triggered selling among investors, with Chinatrust Financial leading financial shares lower. The main TAIEX share index finished 55.35 points lower at 6,733.23
Published 21 Aug, 2009 12:00am
Taiwan economic contraction eases in second quarter

Taiwan economic contraction eases in second quarter

Taiwan's economy shrank 7.5 percent in the second quarter from a year earlier, improving from a record contraction in the previous quarter and prompting the government to raise its forecast for 2009. In a further sign of a gradual recovery, gross domestic
Published 21 Aug, 2009 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian shares closed up 0.68 percent on Thursday in line with gains on Wall Street and regional markets, dealers said. The Kuala Lumpur Composite Index gained 7.9 points to 1,163.43. Advancers outnumbered losers 439 to 213. Dealers said market sentimen
Published 21 Aug, 2009 12:00am
South Korea asks banks to pay back foreign debt

South Korea asks banks to pay back foreign debt

South Korea has asked domestic banks to pay back as much of their foreign debt borrowed under unfavourable terms as possible, an official at a top financial regulatory agency said on Thursday. The move comes as the won has been recovering quickly since tu
Published 21 Aug, 2009 12:00am
India's WPI falls, food prices surge on poor monsoon

India's WPI falls, food prices surge on poor monsoon

India's wholesale price index fell in the year to August 8 for the tenth week in a row, but drought-like conditions continued to push up food prices and broader inflation is expected by economists to rise sharply in coming months. The widely watched whole
Published 21 Aug, 2009 12:00am
Swiss exports rise

Swiss exports rise

Switzerland's exports rose in July from the previous month, widening the trade surplus and giving some hope for recovery in the second half of 2009, but lagging imports suggested a slower pickup in domestic demand. The trade balance posted a surplus of 2.
Published 21 Aug, 2009 12:00am
Brazil's jobless rate unexpectedly falls in July

Brazil's jobless rate unexpectedly falls in July

Unemployment in Brazil unexpectedly fell in July and was down for a fourth straight month, the latest sign that a recovery in Latin America's largest economy is gathering speed. The jobless rate dipped to 8 percent in July from 8.1 percent in June, statis
Published 21 Aug, 2009 12:00am
Ahold reports second quarter profits

Ahold reports second quarter profits

Dutch supermarket group Ahold reported second-quarter profit above forecasts on Thursday, as it increased market share and clamped down on costs, convincing investors of its operational strength. Ahold adopted an extensive store revamp in 2006 ahead of co
Published 21 Aug, 2009 12:00am
Ahold reports second quarter profits

Ahold reports second quarter profits

Dutch supermarket group Ahold reported second-quarter profit above forecasts on Thursday, as it increased market share and clamped down on costs, convincing investors of its operational strength. Ahold adopted an extensive store revamp in 2006 ahead of co
Published 21 Aug, 2009 12:00am
US to study impact of new off-balance-sheet rules

US to study impact of new off-balance-sheet rules

US regulators plan to gauge how severe of a hit banks will take from an accounting change that will force them to bring more than $1 trillion of assets back on their books. Next week regulators expect to propose a rule that seeks input on whether banks ne
Published 21 Aug, 2009 12:00am
Manila central bank keeps rates steady, ends easing cycle

Manila central bank keeps rates steady, ends easing cycle

The Philippine central bank kept interest rates steady on Thursday, ending its eight-month easing campaign as expected and saying it will keep borrowing costs steady for as long as it will be necessary. The pledge, combined with the central bank's forecas
Published 21 Aug, 2009 12:00am
Sears posts surprise loss

Sears posts surprise loss

Sears Holding Corp reported a surprise quarterly loss that dimmed investors' hopes that Chairman Eddie Lampert could succeed in turning around the struggling retailer. The company's cost cuts, its main focus, failed to keep pace with declining revenue, se
Published 21 Aug, 2009 12:00am
Sears posts surprise loss

Sears posts surprise loss

Sears Holding Corp reported a surprise quarterly loss that dimmed investors' hopes that Chairman Eddie Lampert could succeed in turning around the struggling retailer. The company's cost cuts, its main focus, failed to keep pace with declining revenue, se
Published 21 Aug, 2009 12:00am
G7 recovery at hand, durability in doubt

G7 recovery at hand, durability in doubt

The world's developed nations may now be creeping out of the worst recession in decades but the outlook remains brittle and interest rates will remain steady well into next year, Reuters polls of over 250 economists show. Investors and traders have been m
Published 21 Aug, 2009 12:00am
Bharti, MTN extend talks to forge global telecom giant

Bharti, MTN extend talks to forge global telecom giant

India's top mobile phone company Bharti Airtel and South Africa's flagship MTN cellular firm Thursday extended merger talks for a second time in a bid to forge an emerging market telecoms giant. The exclusive discussions, prolonged by another month to Sep
Published 21 Aug, 2009 12:00am
Bankers' pay to be discussed at G20: Darling

Bankers' pay to be discussed at G20: Darling

British finance minister Alistair Darling said on Thursday the issue of bankers' pay needed to be looked at on an international basis and would be discussed by G20 finance ministers in September. Darling also said that the fight against protectionism and
Published 21 Aug, 2009 12:00am
Rio prepares for recovery after second-half profit tumbles

Rio prepares for recovery after second-half profit tumbles

Rio Tinto, the world's second-largest miner, positioned itself for a comeback on Thursday after posting a record drop in half-year profit and selling off shares and assets to slash debt. Rio said it was more confident about the future after cutting a grea
Published 21 Aug, 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 May 05, 2009.

Published 21 Aug, 2009 12:00am
Rio prepares for recovery after second-half profit tumbles

Rio prepares for recovery after second-half profit tumbles

Rio Tinto, the world's second-largest miner, positioned itself for a comeback on Thursday after posting a record drop in half-year profit and selling off shares and assets to slash debt. Rio said it was more confident about the future after cutting a grea
Published 21 Aug, 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 May 05, 2009.

Published 21 Aug, 2009 12:00am
Ukraine to cut Russian gas imports 25 percent: Prime Minister

Ukraine to cut Russian gas imports 25 percent: Prime Minister

Ukraine, one of Russia's biggest gas customers, plans to slash imports from its ex-Soviet neighbour by 25 percent next year, Prime Minister Yulia Tymoshenko was quoted by news agencies as saying on Thursday. The proposal would halve Ukrainian imports of R
Published 21 Aug, 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 May 05, 2009.

Published 21 Aug, 2009 12:00am
UK sales beat forecasts, public finances much worse

UK sales beat forecasts, public finances much worse

British retail sales rose twice as fast as expected last month but government borrowing posted a record deficit for the month of July as tax receipts have collapsed due to the recession, official figures showed on Thursday. The Office for National Statist
Published 21 Aug, 2009 12:00am
Margin financing may be launched next week

Margin financing may be launched next week

Margin Financing, an alternate leverage product of CFS Mk-II or traditional badla to cater to the financing needs of the brokerage houses and their clients, is most likely to be launched at the Karachi Stock Exchange next week, it is learnt. The Trading A
Published 21 Aug, 2009 12:00am
Dubai World liabilities total $59 billion end-2008

Dubai World liabilities total $59 billion end-2008

State-owned conglomerate Dubai World has $59 billion of liabilities, a large proportion of the Gulf emirate's total debt, as concerns over how its property subsidiary will manage repayments weigh on the market. The group, which owns port operator DP World
Published 21 Aug, 2009 12:00am
Margin financing may be launched next week

Margin financing may be launched next week

Margin Financing, an alternate leverage product of CFS Mk-II or traditional badla to cater to the financing needs of the brokerage houses and their clients, is most likely to be launched at the Karachi Stock Exchange next week, it is learnt. The Trading A
Published 21 Aug, 2009 12:00am
Dubai World liabilities total $59 billion end-2008

Dubai World liabilities total $59 billion end-2008

State-owned conglomerate Dubai World has $59 billion of liabilities, a large proportion of the Gulf emirate's total debt, as concerns over how its property subsidiary will manage repayments weigh on the market. The group, which owns port operator DP World
Published 21 Aug, 2009 12:00am
Margin financing may be launched next week

Margin financing may be launched next week

Margin Financing, an alternate leverage product of CFS Mk-II or traditional badla to cater to the financing needs of the brokerage houses and their clients, is most likely to be launched at the Karachi Stock Exchange next week, it is learnt. The Trading A
Published 21 Aug, 2009 12:00am
UK local bus services face competition probe

UK local bus services face competition probe

Britain's local bus operators are to be investigated by the competition regulator after the Office of Fair Trading (OFT) ruled that a lack of competition may be forcing passengers to pay higher fares. The OFT said on Thursday that a five-month investigati
Published 21 Aug, 2009 12:00am
PML-N walks out in protest against Prime Minister's stance

PML-N walks out in protest against Prime Minister's stance

Pakistan Muslim League-Nawaz (PML-N) on Thursday staged a walkout from National Assembly in protest against the speech of Prime Minister Syed Yousuf Raza Gilani who had stated on Wednesday that the government would invoke Article-6 of the Constitution aga
Published 21 Aug, 2009 12:00am
US regional manufacturing rebounds, claims rise

US regional manufacturing rebounds, claims rise

Manufacturing in the US Mid-Atlantic region expanded in August for the first time in 10 months but new claims for jobless benefits rose unexpectedly last week, underscoring the uneven nature of the nation's economic recovery. The Philadelphia Federal Rese
Published 21 Aug, 2009 12:00am
PML-N walks out in protest against Prime Minister's stance

PML-N walks out in protest against Prime Minister's stance

Pakistan Muslim League-Nawaz (PML-N) on Thursday staged a walkout from National Assembly in protest against the speech of Prime Minister Syed Yousuf Raza Gilani who had stated on Wednesday that the government would invoke Article-6 of the Constitution aga
Published 21 Aug, 2009 12:00am
Nigerian court rules for South Korea firm in oil case

Nigerian court rules for South Korea firm in oil case

A Nigerian federal court said on Thursday the government illegally revoked offshore oil exploration rights awarded to South Korea's National Oil Corp (KNOC) and banned it from further interfering with the firm. President Umaru Yar'Adua in January withdrew
Published 21 Aug, 2009 12:00am
Treasury and opposition ask government to act against sugar hoarders

Treasury and opposition ask government to act against sugar hoarders

Members from both sides of the aisles in the National Assembly on Thursday demanded of the government to take serious action against sugar hoarders and bring its price to the normal level. Opposition leader in the National Assembly Chaudhry Nisar said tha
Published 21 Aug, 2009 12:00am
Switzerland turns a profit on UBS stake sale

Switzerland turns a profit on UBS stake sale

Switzerland sold its stake in its largest bank, UBS, for 5.5 billion Swiss francs ($5.1 billion), a source said on Thursday, making a profit from last year's rescue deal. The sale of the 9 percent stake comes a day after the country agreed to reveal the n
Published 21 Aug, 2009 12:00am
Treasury and opposition ask government to act against sugar hoarders

Treasury and opposition ask government to act against sugar hoarders

Members from both sides of the aisles in the National Assembly on Thursday demanded of the government to take serious action against sugar hoarders and bring its price to the normal level. Opposition leader in the National Assembly Chaudhry Nisar said tha
Published 21 Aug, 2009 12:00am
South Korea's business start-ups hit seven-year high

South Korea's business start-ups hit seven-year high

The number of business start-ups in South Korea hit a near 7-year high in July, central bank data showed on Thursday, underscoring sustained optimism that the recovery in Asia's fourth-largest economy will accelerate. The Bank of Korea data showed 5,501 n
Published 21 Aug, 2009 12:00am
Treasury and opposition ask government to act against sugar hoarders

Treasury and opposition ask government to act against sugar hoarders

Members from both sides of the aisles in the National Assembly on Thursday demanded of the government to take serious action against sugar hoarders and bring its price to the normal level. Opposition leader in the National Assembly Chaudhry Nisar said tha
Published 21 Aug, 2009 12:00am
Germany and Japan sound caution on economic rebound

Germany and Japan sound caution on economic rebound

Germany and Japan cast doubt over the strength of economic recovery on Thursday, adding to concern nascent growth may disappear without sustained government stimulus, and US economists also feared the American economy could slip back into recession next y
Published 21 Aug, 2009 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation, inclusive of Public Debt Offices, banks/DFIs will remain closed for public dealing on 1st Ramazan-ul-Mubarak, 1430 AH, which will be observed as Bank Holiday for deducti
Published 21 Aug, 2009 12:00am
Egypt signs $30 million oil agreements with US Apache Corp

Egypt signs $30 million oil agreements with US Apache Corp

Egypt signed three oil agreements with the US Apache corp on Thursday worth 30 million dollars to dig 14 wells in the Western Desert, Egypt's Minister of Oil Sameh Fahmy said. The first agreement between the government-owned Egyptian General Petroleum Cor
Published 21 Aug, 2009 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation, inclusive of Public Debt Offices, banks/DFIs will remain closed for public dealing on 1st Ramazan-ul-Mubarak, 1430 AH, which will be observed as Bank Holiday for deducti
Published 21 Aug, 2009 12:00am
Indian states can borrow extra $4.3 billion in fiscl year 2010

Indian states can borrow extra $4.3 billion in fiscl year 2010

India's government will let states borrow an additional 210 billion rupees ($4.3 billion) extra in 2009/10 to battle a slowdown and drought, a move analysts said would add to pressure on the budget and bonds. Thursday's move could push the combined federa
Published 21 Aug, 2009 12:00am
Gold edges up above $940 in Asia

Gold edges up above $940 in Asia

Gold edged higher above $940 an ounce on Thursday, underpinned by light physical buying as investors eyed the currency market for clues on the precious metal's direction. Doubts about a nascent global economic recovery had recently prompted investors to s
Published 21 Aug, 2009 12:00am
Afghans turn out to vote despite sporadic violence

Afghans turn out to vote despite sporadic violence

Millions of Afghans went to the polls on Thursday, defying Taliban threats of violence and sporadic attacks across the country to choose a president in the midst of a worsening war. "The Afghan people dared rockets, bombs and intimidation and came out to
Published 21 Aug, 2009 12:00am
US gold rises

US gold rises

US gold futures rose on Wednesday on technical buying and a weaker dollar, even as news showed that global gold jewellery demand fell amid a recession. December gold up $4.90 at $944.10 an ounce at 10:11 am EDT (1411 GMT) on the COMEX division of the New
Published 21 Aug, 2009 12:00am
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