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Print - 2009-08-22
Irsa releases 319,599 cusecs water

Irsa releases 319,599 cusecs water

Indus River System Authority (Irsa) on Friday released 319,599 cusecs water from various rim stations. According to Irsa, an overall water inflow from various reservoirs recorded was 319,599 cusecs. Water level at Tarbela Dam recorded was at 1,550 feet. T
Published 22 Aug, 2009 12:00am
Khushamadi economics?

Khushamadi economics?

The time has come to examine the concepts of economics and how these have been worked out to the benefit of the developed world. How, unnecessarily, shortages are created? Who creates these shortages and why we are so poodle-like to follow the advice of t
Published 22 Aug, 2009 12:00am
US and Afghans must deliver on election promises

US and Afghans must deliver on election promises

Afghanistan's relatively calm election was a welcome boost for President Barack Obama's strategy but with waning US public support for the war both countries will need quick military and political successes. Experts say no matter who wins - with incumbent
Published 22 Aug, 2009 12:00am
Obama wants Palestinian concessions

Obama wants Palestinian concessions

Now it's the Palestinians' turn. With Israel having issued no new housing settlement contracts for months, President Barack Obama is beginning to make headway in his Mideast peace strategy. He may well have a lasting, major Israeli concession in his pocke
Published 22 Aug, 2009 12:00am
Jaswant Singh's book

Jaswant Singh's book

"And say: Truth hath come and falsehood hath vanished away. Lo! falsehood is ever bound to vanish". (Al Quran 15: 17: 81). I pay tribute to Jaswant Singh for admitting and propagating the undying truth, via his recently launched book, "Jinnah, Partition o
Published 22 Aug, 2009 12:00am
India meddling in Balochistan

India meddling in Balochistan

PM Gilani had shown photos of Brahamdagh meeting Indian officials in Afghanistan and India and RAW officials meeting anti-Pak elements to Manmohan at Sharm al-Sheikh. He was provided clinching evidence of Indian involvement in terrorist attacks on the Sri
Published 22 Aug, 2009 12:00am
Martin Luther King Reading Room inaugurated

Martin Luther King Reading Room inaugurated

The Martin Luther King (MLK) Reading Room was inaugurated Friday in order to facilitate the readers with ample resource of information on diversified subjects relating to the history of United States (US). The Counsellor of US Embassy Public Affairs Gonza
Published 22 Aug, 2009 12:00am
Minorities' inclusion in mainstream imperative for progress: Ispahani

Minorities' inclusion in mainstream imperative for progress: Ispahani

Farahnaz Ispahani, Media Advisor to the President Friday said that the government of Pakistan Peoples Party believed that no country can make substantial progress if the minorities are singled out from the mainstream. She was addressing the Independence D
Published 22 Aug, 2009 12:00am
'SSEPC to enhance share of postal business'

'SSEPC to enhance share of postal business'

Minister for Postal Services Mir Israr Ullah Zehri on Friday said that establishment of Small and Smart Express Post Centres (SSEPC) would not only enhance share of postal business but also help further strengthen public confidence in the postal services.
Published 22 Aug, 2009 12:00am
Quality food for internees in Punjab jails during Ramazan

Quality food for internees in Punjab jails during Ramazan

A total number of 56,909 under trial prisoners and convicts including 802 women confined in 32 jails across the province will observe fast during the holy month of Ramazan-ul-Mubarak. Inspector General Prisons Punjab, Kokab Nadeem Warriach told newsmen he
Published 22 Aug, 2009 12:00am
Germany providing Rs 1.17 billion for food assistance to IDPs

Germany providing Rs 1.17 billion for food assistance to IDPs

The Federal Republic of Germany is providing EUR 10 million (Rs 1.17 billion) for food assistance to internally displaced and conflict affected persons in NWFP and FATA. According to a press release issued by the German Embassy here on Friday.
Published 22 Aug, 2009 12:00am
Mysterious killings in Malakand

Mysterious killings in Malakand

Over the last few weeks, particularly since the return of the IDPs, the locals have had quite frequently sighted bodies dumped in the fields or hanging from the trees - a la the Taliban practice of delivering justice. Some of the corpses even carried note
Published 22 Aug, 2009 12:00am
Illegal hydrants: Tanker mafia doing roaring business with stolen water

Illegal hydrants: Tanker mafia doing roaring business with stolen water

Despite supply of more water than what is allocated, many localities in Landhi Town are facing extreme water shortage, as the strong tanker mafia steals the water from main lines. On the other hand administrations of Landhi Town as well as Karachi Water a
Published 22 Aug, 2009 12:00am
Prevention, awareness of swine flu among people underlined

Prevention, awareness of swine flu among people underlined

Medical and veterinary experts have called for taking preventive and precautionary measures and creating awareness among people to check the spread of swine flu and other zoonosis (spreading from swine to humans) diseases in the country.
Published 22 Aug, 2009 12:00am
PPS president to start student counselling section

PPS president to start student counselling section

President, Pakistan Psychiatric Society (PPS), Professor Haroon Rashid Chaudhry, who is also Head of the Department of Psychiatry, Fatima Jinnah Medical College/Sir Ganga Ram Hospital, Lahore, will start student Counselling and Parents Guidance Section wi
Published 22 Aug, 2009 12:00am
'Ramazan an opportunity to quit smoking'

'Ramazan an opportunity to quit smoking'

The Holy month of Ramazan is a good opportunity for people to quit the deadly habit of smoking. This was stated by President College of Family Medicines NWFP Dr Saeed-ul-Majeed while addressing a function held in connection with National Quit Tobacco Smok
Published 22 Aug, 2009 12:00am
Call for concerted efforts to check menace of smoking

Call for concerted efforts to check menace of smoking

Media play a key role in shaping tobacco-related knowledge, opinions, attitudes and behaviours among individuals and within the communities. These were the views of participants of a seminar on "National Quit Smoking Day" organised by World Health Organis
Published 22 Aug, 2009 12:00am
Traders suggest formation of industry-police liaison committee

Traders suggest formation of industry-police liaison committee

The representatives of Lahore Chamber of Commerce and Industry (LCCI), the All Pakistan Textile Mills Association (Aptma), and Pakistan Tanners Association (PTA) in a meeting with Punjab Chief Minister suggested formation of 'Industry-police liaison commi
Published 22 Aug, 2009 12:00am
US MIDDAY: gold rallies

US MIDDAY: gold rallies

Gold futures rose toward $960 an ounce early on Friday, gaining more than 1 percent as the dollar extended losses against the euro, boosting the metal's appeal as a hedge against the falling US currency. December gold up $12.70, or 1.3 percent, at $954.40
Published 22 Aug, 2009 12:00am
US MIDDAY: coffee and sugar lower; cocoa up

US MIDDAY: coffee and sugar lower; cocoa up

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. December arabica coffee contract down 0.25 cent to $1.2555 per lb at 11:12 am EDT (1512 GMT). Session range from $1.2540 to $1.2850. Market turned mildly lower as the US doll
Published 22 Aug, 2009 12:00am
US MIDDAY: soya and corn up; wheat dips

US MIDDAY: soya and corn up; wheat dips

Chicago Board of Trade grains and soya complex at 10:30 am CDT (1530 GMT) early on Friday. Chicago Board of Trade soyabeans rallied early Friday led by front-month September on strong Chinese soya demand, worries that cool US weather will slow crop develo
Published 22 Aug, 2009 12:00am
US MIDDAY: copper surges

US MIDDAY: copper surges

COMEX copper futures rallied early on Friday with equity markets after US existing home sales came in stronger than expected, traders said. Copper for September delivery topped resistance at a prior high of $2.84 a lb and soared to a peak at $2.8460 a lb,
Published 22 Aug, 2009 12:00am
Gold climbs two percent in Europe

Gold climbs two percent in Europe

Gold climbed 2 percent to a one-week high on Friday, in tandem with a stronger euro, after robust eurozone economic data dented the dollar's appeal and made bullion cheaper for non-US investors. The euro hit a two-week high against the dollar. It later pa
Published 22 Aug, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (August 21, 2009).

Published 22 Aug, 2009 12:00am
Riaz elected unopposed SCCI president

Riaz elected unopposed SCCI president

Prominent industrialist, Riaz Arshad was elected unopposed as president of the Sarhad Chamber of Commerce and Industry (SCCI), while Zulfikar Ali Khan and Faiz Mohammad Faizi were elected unopposed as vice presidents of the chamber for the year 2009-10. T
Published 22 Aug, 2009 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 22 Aug, 2009 12:00am
HBL profit declines

HBL profit declines

The after tax profit (consolidated) of Habib Bank declined to Rs 6.562 in the half-year period ended on June 30, 2009 as compared to Rs 7.498 billion earned in the corresponding period in 2008. The board of directors of the bank in its meeting held here o
Published 22 Aug, 2009 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 22 Aug, 2009 12:00am
HBL profit declines

HBL profit declines

The after tax profit (consolidated) of Habib Bank declined to Rs 6.562 in the half-year period ended on June 30, 2009 as compared to Rs 7.498 billion earned in the corresponding period in 2008. The board of directors of the bank in its meeting held here o
Published 22 Aug, 2009 12:00am
Faysal Bank's net profit falls

Faysal Bank's net profit falls

The profit after tax of Faysal Bank Limited (FBL) has declined to Rs 467.072 million in the half year period ended June 30, 2009 as compared to Rs 740.200 million earned in the corresponding period in 2008. The board of directors of the bank in its meetin
Published 22 Aug, 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 22 Aug, 2009 12:00am
Pakistan wants to strengthen economic ties with Saudi Arabia: Qureshi

Pakistan wants to strengthen economic ties with Saudi Arabia: Qureshi

Foreign Minister, Shah Mahmood Qureshi, has said Pakistan greatly values its distinguished relations with Saudi Arabia and intends to further strengthen the existing ties in various fields, especially the economic sector. He said this while talking to Amb
Published 22 Aug, 2009 12:00am
London sugar and coffee lower; cocoa rises

London sugar and coffee lower; cocoa rises

Sugar futures were mixed on Friday in choppy trading as the market searched for direction following the highs hit last week on strong demand from top consumer India and weak global supplies. Cocoa futures rose on investor buying and short-covering, while
Published 22 Aug, 2009 12:00am
Faysal Bank's net profit falls

Faysal Bank's net profit falls

The profit after tax of Faysal Bank Limited (FBL) has declined to Rs 467.072 million in the half year period ended June 30, 2009 as compared to Rs 740.200 million earned in the corresponding period in 2008. The board of directors of the bank in its meetin
Published 22 Aug, 2009 12:00am
President to issue ordinance for Bt cotton cultivation: minister

President to issue ordinance for Bt cotton cultivation: minister

President Asif Ali Zardari will shortly promulgate an ordinance to introduce the sowing of Bt cotton with a view to increase crop yield to cater to the textile sector's needs, said Textile Minister Muhammad Farooq Saeed Khan on Thursday night. Speaking at
Published 22 Aug, 2009 12:00am
Sardar Aseff's mother passes away

Sardar Aseff's mother passes away

Mother of Sardar Aseff Ahmed Ali, Deputy Chairman Planning Commission passed away on Friday morning after protracted illness. According to a press release issued here her Nimaz-e-Jinnaza will be offered at 5:00 pm on Saturday at his residence, Ahmadpur ne
Published 22 Aug, 2009 12:00am
Indus Motor holds 18th Dealer Conference

Indus Motor holds 18th Dealer Conference

Indus Motor Company (IMC) held its 18th Annual Dealer Conference with the theme "Challenge the Change" in Karachi. Toyota Motors Asia Pacific, Senior Vice President Michinobu Sugata was the chief guest. Speaking on the occasion, Michinobu Sugata stated th
Published 22 Aug, 2009 12:00am
Six dacoits loot Rs 10 million from bank

Six dacoits loot Rs 10 million from bank

At least six armed robbers looted around Rs 10 million from a private bank in the jurisdiction of Bahadurabad police station here on Friday morning, police and witnesses said. According to police sources, the dacoits entered Meezan Bank Dhorajee Colony Br
Published 22 Aug, 2009 12:00am
Jetro arranges session on special economic zone

Jetro arranges session on special economic zone

Japan External Trade Organisation (Jetro) in collaboration with Board of Investment (BoI) held a guidance/awareness session at the residence of the Counsel General of Japan, on August 19 for elaborating and explaining in detail the concept and incentives
Published 22 Aug, 2009 12:00am
MPCB to check environmental hazard of pollution-hit coastline

MPCB to check environmental hazard of pollution-hit coastline

The ministry of ports and shipping on Friday constituted a committee to technically evaluate ways to clean the 990-kilometer long pollution-hit coastline of the country, as Marine Pollution Control Board (MPCB) comes in action after at least three prolong
Published 22 Aug, 2009 12:00am
Two modern salt lakes, plants to be set up in Mithi

Two modern salt lakes, plants to be set up in Mithi

Hub Salt Pvt Ltd has assured Sindh government that it would set up two more modern salt lakes and plants in Mithi town of district Tharparkar soon. This was informed by the Secretary Mines and Minerals Development Department of Sindh government, Aijaz Kha
Published 22 Aug, 2009 12:00am
Stuck in the energy groove

Stuck in the energy groove

Amidst the raging RPP-IPP controversy, with the government high-ups projecting rental power as the sole solution to the power problem, Engr Mohammad Yaqoob of Institute of Engineers Pakistan (IEP) has come up with a novel idea: the construction of pumped
Published 22 Aug, 2009 12:00am
Warid Telecom expands network

Warid Telecom expands network

Warid Telecom (Pvt) Ltd has rolled out its network reach to 480 cities with over 6000 destinations across Pakistan. Warid is providing GSM services throughout the country covering more than 12000Km. It has pursued a progressive expansion strategy to sprea
Published 22 Aug, 2009 12:00am
Living standards fall to complicate Croatia reform

Living standards fall to complicate Croatia reform

Croatia's unemployment will rise and living standards deteriorate after a brief respite in the summer, which may complicate the government's reform agenda, analysts and union leaders said on Friday. The statistics office put the July unemployment rate fla
Published 22 Aug, 2009 12:00am
First tongue, jaw transplant carried out in Spain

First tongue, jaw transplant carried out in Spain

Spanish doctors completed the first ever transplant of a tongue and jaw on Tuesday, surgeon Pedro Cavadas said on Friday. The 43-year-old patient, who lost the lower half of his face during treatment for a malignant tumour 11 years ago, is recovering well
Published 22 Aug, 2009 12:00am
Libyan Megrahi celebrations unsettle UK government

Libyan Megrahi celebrations unsettle UK government

Britain on Friday condemned celebrations in Tripoli to mark the return of the Lockerbie bomber, and scrambled to deflect international fallout from the decision to free him on humanitarian grounds.
Published 22 Aug, 2009 12:00am
WHO predicts 'explosion' of swine flu cases

WHO predicts 'explosion' of swine flu cases

The global spread of swine flu will endanger more lives as it speeds up in the coming months and governments must boost preparations for a swift response to a coming "explosion" of cases, the World Health Organisation said Friday.
Published 22 Aug, 2009 12:00am
North Korean officials join South in mourning as tensions ease

North Korean officials join South in mourning as tensions ease

A North Korean delegation visited South Korea to join national mourning for former president Kim Dae-Jung on Friday, its leader calling for better relations after months of high tension. The six-strong team, including two senior officials, delivered a wre
Published 22 Aug, 2009 12:00am
Malaysian woman wants public caning

Malaysian woman wants public caning

A Malaysian Muslim woman who will be caned next week for drinking beer has defiantly asked that the punishment be carried out in public in a case that is fuelling debate about tolerance in this multi-racial country. Kartika Sari Dewi Shukarno will be the
Published 22 Aug, 2009 12:00am
75 Africans die in Mediterranean

75 Africans die in Mediterranean

Around 75 African migrants died in the Mediterranean after their stranded boat ran out of food and water, the United Nations said on Friday, quoting the only five survivors of what it called a "shocking tragedy".
Published 22 Aug, 2009 12:00am
Four American soldiers in Iraq charged

Four American soldiers in Iraq charged

The US military says four American soldiers in Iraq have been charged with cruelty and maltreatment of soldiers in their platoon. In a statement released Friday, the military says charges were filed Wednesday against the four soldiers serving with Multi-N
Published 22 Aug, 2009 12:00am
China jails Windows software pirate

China jails Windows software pirate

The maker of China's most popular pirated edition of the Windows XP computer program has been sentenced to three-and-a-half years in jail in the eastern city of Suzhou, a news report said Friday. The state-run Xinhua news agency quoted Suzhou-based news p
Published 22 Aug, 2009 12:00am
Three charged over $66 million jewel heist in UK

Three charged over $66 million jewel heist in UK

Two men accused in an audacious jewel heist in London appeared in court Friday as police charged a third in the 40-million-pound ($66-million) robbery. The pair - 26-year-old Solomun Beyene of London and 26-year-old Craig Calderwood, of no fixed address -
Published 22 Aug, 2009 12:00am
Chechen rebels claim 'economic war'; analysts sceptical

Chechen rebels claim 'economic war'; analysts sceptical

Chechen rebels claimed responsibility on Friday for a Siberian dam disaster as part of a new "economic war" against Russia but the Kremlin dismissed the claim and financial markets ignored it. The claims posted on the unofficial Islamist rebel Website www
Published 22 Aug, 2009 12:00am
Fighting kills 22 in Mogadishu

Fighting kills 22 in Mogadishu

Fighting erupted between Islamist rebels, government forces and African Union peacekeepers in Somalia's capital Mogadishu on Friday, killing at least 22 people, witnesses and medical staff said. Battles broke out around the city's strategic K4 junction af
Published 22 Aug, 2009 12:00am
Two killed in Baghdad market attack

Two killed in Baghdad market attack

Two people were killed and 20 wounded when a sticky bomb attached to a car exploded at a market in southern Baghdad on Friday, police said. The explosion occurred in Dora neighbourhood at around 8.00 am (0500 GMT) as traders gathered at a wholesale market
Published 22 Aug, 2009 12:00am
Climate change campaign creates carbon crimes

Climate change campaign creates carbon crimes

Customs agents this week arrested nine people in the London area suspected of a multimillion dollar fraud in trading carbon permits, bringing attention to a rich new field for crime sprung from the fight against climate change. The arrest confirmed fears
Published 22 Aug, 2009 12:00am
Iran allows UN watchdog access to planned reactor

Iran allows UN watchdog access to planned reactor

Iran has allowed UN nuclear inspectors access to a reactor under construction after blocking visits for a year, and has let them upgrade monitoring at another site ahead of a crucial report on its atomic programme. Iran allowed International Atomic Energy
Published 22 Aug, 2009 12:00am
Former Bush aide says politics coloured US 'terror alert'

Former Bush aide says politics coloured US 'terror alert'

Former US homeland security chief Tom Ridge charges in a new book that top aides to then-president George W. Bush pressured him to raise the "terror alert" level to sway the November 2004 US election. Then defence secretary Donald Rumsfeld and attorney ge
Published 22 Aug, 2009 12:00am
Iran still not fully cooperative on nukes: US

Iran still not fully cooperative on nukes: US

Iran is still not fulfilling obligations related to its nuclear activities, despite allowing UN inspectors to visit a reactor and upgraded monitoring at a uranium enrichment plant, a US official said on Friday. "As far as Iran allowing this improved surve
Published 22 Aug, 2009 12:00am
Indian villagers riot over ban on stone-pelting festival

Indian villagers riot over ban on stone-pelting festival

Indian villagers went on the rampage Friday as police tried to enforce a ban on a bizarre annual stone-pelting ritual which often leaves people dead or injured, a local official said. Officers trying to uphold the ban in two villages in an impoverished ce
Published 22 Aug, 2009 12:00am
Kirdyapkin regains title to make athletics history

Kirdyapkin regains title to make athletics history

Russia's Sergey Kirdyapkin regained the men's 50 kilometres walk world title here on Friday to give Russia a unique clean sweep of the three walking titles at the championships. The 29-year-old, the world champion in 2005, timed 3hrs 38mins 35secs beating
Published 22 Aug, 2009 12:00am
Asif recalled, Razzaq ruled out of Champions Trophy squad

Asif recalled, Razzaq ruled out of Champions Trophy squad

Pakistan on Friday recalled controversial paceman Mohammad Asif but omitted experienced all-rounder Abdul Razzaq from their 15-man squad for next month's Champions Trophy. Pakistan, who were originally to host the tournament before it was moved over secur
Published 22 Aug, 2009 12:00am
Bolt's shoes sprint into Japanese shops

Bolt's shoes sprint into Japanese shops

Jamaican record-breaker Usain Bolt's shoes sprinted into the shops in Japan Friday as German sportswear maker Puma began selling a limited-edition version of his spikes. A day after Bolt stormed to his second world title in Berlin, the bright orange "Puma
Published 22 Aug, 2009 12:00am
Failure to keep discipline: PFF suspends NBP soccer team's coach

Failure to keep discipline: PFF suspends NBP soccer team's coach

Pakistan Football Federation (PFF) has suspended National Bank of Pakistan (NBP) soccer team's coach, Syed Nasir Ismail for not ensuring discipline on the field during Pakistan Premier Football League and two Match Commissioners, Raja Ishtiaq Ahmed of Raw
Published 22 Aug, 2009 12:00am
Weather holds key as Sri Lanka press for win

Weather holds key as Sri Lanka press for win

Bad weather appeared the main stumbling block in Sri Lanka's bid to win the first Test after illness-hit New Zealand were boxed into a corner on Friday. The tourists, set an improbable target of 413 following an unbeaten century by Tillakaratne Dilshan, p
Published 22 Aug, 2009 12:00am
Real sell 'Europe's best striker' to Sevilla

Real sell 'Europe's best striker' to Sevilla

Real Madrid have sold highly-fancied striker Alvaro Negredo to Spanish league rivals Sevilla, both clubs announced Friday. Negredo heads to the southern coast club for five years but for the first two years of that deal Real, who have recently signed a st
Published 22 Aug, 2009 12:00am
Friday's midday trade: Wall Street climbs to new 2009 highs

Friday's midday trade: Wall Street climbs to new 2009 highs

US stocks rallied to new 2009 highs on Friday on positive comments from Federal Reserve Chairman Ben Bernanke and data showing existing home sales rose for the fourth consecutive month. The S&P 500 and the Nasdaq hit 10-month intraday highs, while the Dow
Published 22 Aug, 2009 12:00am
Oil hits 2009 high above $74 a barrel

Oil hits 2009 high above $74 a barrel

Oil rose nearly $1 towards $74 a barrel on Friday, after earlier hitting 2009 highs, as data in the United States promised economic recovery and a potential revival in energy demand. Home sales data for July showed recovery in the US housing market, while
Published 22 Aug, 2009 12:00am
Copper at one-week high

Copper at one-week high

Copper hit a one-week high on Friday, boosted by improving demand expectations and positive US housing data, but concerns about monetary tightening in China, the world's largest consumer of the metal, capped gains. Copper for three-months delivery on the
Published 22 Aug, 2009 12:00am
New York cotton futures end soften

New York cotton futures end soften

Cotton futures settled softer Friday on investor sales although trade buying enabled the market to hold its lows for the day while the trade mulled the market's next move, brokers said. The December cotton contract in New York eased 0.12 cent to end at 58
Published 22 Aug, 2009 12:00am
FTSE rises to highest close since October 2008

FTSE rises to highest close since October 2008

Britain's FTSE 100 ended 2 percent higher on Friday, setting its highest close since early October 2008 and completing a fruitful week for the index as stocks extended their rally on the back of strong economic data. Led by commodity and financial stocks,
Published 22 Aug, 2009 12:00am
European CDS tighten

European CDS tighten

European credit default swaps tightened on Friday, in line with a share rally, after better-than-expected US home sales added to a sharp rise in the eurozone purchasing managers index to boost recovery hopes. By 1444 GMT, the investment-grade Markit iTrax
Published 22 Aug, 2009 12:00am
European CDS tighten

European CDS tighten

European credit default swaps tightened on Friday, in line with a share rally, after better-than-expected US home sales added to a sharp rise in the eurozone purchasing managers index to boost recovery hopes. By 1444 GMT, the investment-grade Markit iTrax
Published 22 Aug, 2009 12:00am
Asian bond spreads remain narrow

Asian bond spreads remain narrow

Asian bond spreads narrowed for a third straight session on Friday as a rise in Chinese equities which lifted demand for the region's riskier debt. The Asia ex-Japan iTraxx investment-grade index narrowed to 137/149 basis points (bps) from 144/150 on Thur
Published 22 Aug, 2009 12:00am
Asian bond spreads remain narrow

Asian bond spreads remain narrow

Asian bond spreads narrowed for a third straight session on Friday as a rise in Chinese equities which lifted demand for the region's riskier debt. The Asia ex-Japan iTraxx investment-grade index narrowed to 137/149 basis points (bps) from 144/150 on Thur
Published 22 Aug, 2009 12:00am
Serena, Sharapova advance

Serena, Sharapova advance

Second-seeded Serena Williams eased into the quarter-finals of the two million-dollar WTA hardcourt tournament here on Thursday with a straight sets victory over Ukrainian Alona Bondarenko. Williams, the reigning Wimbledon, Australian Open and US Open cha
Published 22 Aug, 2009 12:00am
Indian shares up 1.52 percent

Indian shares up 1.52 percent

Indian shares rose 1.52 percent on Friday with sentiment boosted by Wall Street's overnight gains and an upbeat tone to European markets, dealers said. The benchmark 30-share Sensex index rose 228.51 points to 15,240.83. Investor sentiment improved as Eur
Published 22 Aug, 2009 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Friday, helped by a 1.5 percent rise in the local share market with the dollar's losses versus most major currencies also underpinning market sentiment.
Published 22 Aug, 2009 12:00am
Dollar Libor reaches another record low

Dollar Libor reaches another record low

Record low rates and falling risk premiums on Friday reinforced the notion the US short-term credit markets are returning to conditions before the global financial crisis erupted two years ago. Credit conditions have indeed improved in the wake of the mas
Published 22 Aug, 2009 12:00am
Sterling down versus euro

Sterling down versus euro

Sterling fell to a one-month low against the euro on Friday, hit by brighter data that bode well for the pace of the eurozone's recovery, although the rise in investors' appetite for risk drove it higher against the dollar.
Published 22 Aug, 2009 12:00am
Euro rises in London

Euro rises in London

The euro hit a two-week high against the dollar and a one-month high versus sterling on Friday as strong readings of eurozone purchasing managers' surveys added to the view the region's economy is improving. A rise in oil prices to their highest level of
Published 22 Aug, 2009 12:00am
US training could target Russia: Georgia

US training could target Russia: Georgia

Georgia's Defence Minister said Friday that training his troops will receive from the US military before heading to Afghanistan could also be used in Georgia's "very difficult security environment." Asked if he was referring to the possibility of another
Published 22 Aug, 2009 12:00am
Georgia sacks economic development minister

Georgia sacks economic development minister

Georgia sacked Economic Development Minister Lasha Zhvania on Friday as the volatile former Soviet republic struggles with the economic downturn and investor flight. "I am not happy with his work. He must leave his post today," Prime Minister Nika Gilauri
Published 22 Aug, 2009 12:00am
Former UBS banker gets 40 months in prison

Former UBS banker gets 40 months in prison

A US court on Friday sentenced a former American banker at Swiss banking giant UBS to 40 months in prison for helping wealthy US clients evade taxes, the Justice Department said. Bradley Birkenfeld pleaded guilty to conspiring to defraud the United States
Published 22 Aug, 2009 12:00am
Karzai and chief rival claim victory in Afghan vote

Karzai and chief rival claim victory in Afghan vote

President Hamid Karzai's campaign and chief rival Abdullah Abdullah both said on Friday they had won Afghanistan's election, with US officials warning the candidates to keep a lid on simmering tensions. Both camps said unofficial counts by campaign worker
Published 22 Aug, 2009 12:00am
Two UK soldiers killed

Two UK soldiers killed

Two British soldiers have been killed by an explosion while on a routine foot patrol in southern Afghanistan, the Ministry of Defence (MoD) said on Friday. The deaths, which occurred on Thursday morning near Sangin, north Helmand Province, take total UK f
Published 22 Aug, 2009 12:00am
Israel and Palestinians trade blame for peace deadlock

Israel and Palestinians trade blame for peace deadlock

Israel and the Palestinians on Friday traded blame for failure to resume stalled peace talks after US President Barack Obama renewed his call on both sides to resume negotiations as soon as possible. A senior Israeli official said the Palestinians had rej
Published 22 Aug, 2009 12:00am
Malaysia tin rises

Malaysia tin rises

Malaysian tin rose 0.7 percent on Friday after three straight days of losses as London Metal Exchange prices gained and on some European and Japanese demand, one dealer said.
Published 22 Aug, 2009 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (August 21, 2009).

Published 22 Aug, 2009 12:00am
US drone strike kills 13

US drone strike kills 13

A pre-dawn US missile strike on Friday killed at least 13 people near Miranshah, officials said. A missile hit a house near Miranshah, at 3:50 am (2150 GMT Thursday), security official told AFP. "It was a drone attack. The missile targeted a house in Dand
Published 22 Aug, 2009 12:00am
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