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Print - 2009-08-25
Dementieva wins all-Russian final at Toronto WTA event

Dementieva wins all-Russian final at Toronto WTA event

Elena Dementieva won her third singles title of the year, snapping a run of poor showings against Maria Sharapova in an all-Russian showdown at the WTA Rogers Cup on Sunday. In a tune-up event for the US Open, the 27-year-old Dementieva posted a 6-4, 6-3
Published 25 Aug, 2009 12:00am
Flintoff targets Bangladesh comeback

Flintoff targets Bangladesh comeback

Andrew Flintoff said he hoped to be back for England's tour of Bangladesh in February after bowing out of Test cricket as an Ashes winner. The 31-year-old all-rounder's career has been blighted by injuries and Flintoff has now decided his body can no long
Published 25 Aug, 2009 12:00am
Federer wins Cincinnati Masters

Federer wins Cincinnati Masters

World number one Roger Federer defeated fourth-seeded Novak Djokovic 6-1, 7-5 to win the Cincinnati Masters title Sunday and cement his status as favourite for the upcoming US Open. Federer set the tone in the second game of the match, when Djokovic saved
Published 25 Aug, 2009 12:00am
Messi double leads Barcelona to Super Cup win

Messi double leads Barcelona to Super Cup win

Lionel Messi scored twice as Barcelona beat Athletic Bilbao 3-0 in the Spanish Super Cup second leg on Sunday for a 5-1 aggregate win. The European champions dominated the match and could have won by more. Argentine star Messi scored in the 50th minute an
Published 25 Aug, 2009 12:00am
Moore wins first PGA Tour title in a playoff

Moore wins first PGA Tour title in a playoff

American Ryan Moore captured his first PGA Tour title Sunday with a birdie on the third playoff hole in the final round of the Wyndham Championship. The former US amateur champion rolled in five birdies down the stretch to shoot a final round five-under-p
Published 25 Aug, 2009 12:00am
Press hail England's hero Strauss

Press hail England's hero Strauss

England cricket captain Andrew Strauss was hailed as a hero in the British press Monday after leading his team to victory, while questions were raised about Australian skipper Ricky Ponting's future. England defeated Australia by 197 runs at The Oval on S
Published 25 Aug, 2009 12:00am
Ponting's captaincy in no danger after Ashes loss: CA

Ponting's captaincy in no danger after Ashes loss: CA

Calls for Ricky Ponting to relinquish his captaincy in the wake of Australia's Ashes series loss to England are "completely unfair", Cricket Australia chief James Sutherland said on Monday. Australia's 197-run loss in the deciding fifth test at the Oval o
Published 25 Aug, 2009 12:00am
Minnows hoping for glory ahead of Asian qualifier

Minnows hoping for glory ahead of Asian qualifier

Malaysia, Singapore and the Philippines are tipped to be among the top contenders to win spots at the Omega Mission Hills World Cup during Asian qualifying starting Wednesday. And golfing minnows Brunei and Bangladesh are ready to battle their way into th
Published 25 Aug, 2009 12:00am
Yen falls broadly

Yen falls broadly

The yen was broadly lower on Monday as optimism about the world economy saw investors increase bets on currencies linked to global growth and higher yields, such as the Australian and New Zealand dollars. The yen has been on the defensive after data on Fr
Published 25 Aug, 2009 12:00am
Bangladesh interbank forex and interest rates

Bangladesh interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 0.15-2.75 percent (previous 0.10-2.75 percent).
Published 25 Aug, 2009 12:00am
New Zealand dollar firm

New Zealand dollar firm

The New Zealand dollar hit a 10-day high on Monday, and held within sight of 10-month peaks, as strong stock markets underpinned investor appetite for currencies seen tied to global growth prospects. Asian stocks jumped more than 2 percent, following Frid
Published 25 Aug, 2009 12:00am
Kenyan shilling flat

Kenyan shilling flat

The Kenyan shilling was flat on Monday and dealers said central bank dollar demand could keep the local unit from breaking the 76.10 level in coming days. The commercial banks traded the unit at 76.20/30 per dollar, from last week's close of 76.25/35. "Th
Published 25 Aug, 2009 12:00am
Hong Kong dollar inches up

Hong Kong dollar inches up

The Hong Kong dollar nudged higher against the US dollar on Monday underpinned by a rally in the stock market. The local currency rose to 7.7504 in late afternoon near the upper end of its tight band against the US dollar. Asian stock markets jumped on Mo
Published 25 Aug, 2009 12:00am
Swiss franc pauses after rally

Swiss franc pauses after rally

The Swiss franc fell against the euro and the dollar on Monday, giving up some of the ground gained during a considerable show of strength in last week's trading. The franc fell against the euro compared to the New York close, trading at 1.5179 francs per
Published 25 Aug, 2009 12:00am
Asian currencies up

Asian currencies up

The South Korean won and Indonesian rupiah led Asian currencies up against the dollar on Monday as investors snapped up regional stocks on renewed optimism about a global economic recovery. Asian stocks jumped 2.6 percent as of 0650, lifting world shares
Published 25 Aug, 2009 12:00am
Australian dollar climbs

Australian dollar climbs

The Australian dollar rose on Monday after stock markets around the world hit their best levels so far this year, lifting demand for riskier assets while knocking bond futures lower. The Australian dollar climbed over a cent to $0.8387, from $0.8247 seen
Published 25 Aug, 2009 12:00am
Yuan ends flat

Yuan ends flat

The yuan ended almost unchanged against the dollar on Monday despite the mid-point being set at a more than two-week high and a weaker US dollar after strong housing sales and upbeat comments from Federal Reserve Chairman Ben Bernanke reduced the safe-hav
Published 25 Aug, 2009 12:00am
Tokyo stocks jump 3.4 percent

Tokyo stocks jump 3.4 percent

Japan's Nikkei average jumped 3.4 percent in thin trade on Monday, boosted by hopes for a global economic recovery that sent US shares climbing, with Canon Inc and other exporters leading the benchmark higher. Oil and gas field developer Inpex and other e
Published 25 Aug, 2009 12:00am
Taiwan dollar rises to two-week high

Taiwan dollar rises to two-week high

The Taiwan dollar rose to a two-week closing high on Monday on foreign fund inflows and after positive comments from the US Federal Reserve Chairman Ben Bernanke boosted investor risk appetite. The Taiwan dollar's close is the strongest since August 11. "
Published 25 Aug, 2009 12:00am
Singapore shares close 2.65 percent up

Singapore shares close 2.65 percent up

Singapore shares closed 2.65 percent higher on Monday, mirroring regional gains amid optimism the global economic slump is coming to an end, dealers said. The blue chip Straits Times Index put on 67.47 points to end at 2,612.33. Volume traded totalled 2.8
Published 25 Aug, 2009 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed up 0.91 percent on Monday with gains across all sectors following positive economic news from the US, dealers said. The Kuala Lumpur Composite Index added 10.70 points to 1,174.49. Advancing stocks outnumbered decliners 390 t
Published 25 Aug, 2009 12:00am
South Korean bonds dip

South Korean bonds dip

South Korean treasury bond prices fell on Monday as investors sold off debt and snapped up shares on growing hopes of economic recovery. The yield on benchmark five-year treasury bonds rose 5 basis points to 4.86 percent, while the three-year treasury bon
Published 25 Aug, 2009 12:00am
South Korean bonds dip

South Korean bonds dip

South Korean treasury bond prices fell on Monday as investors sold off debt and snapped up shares on growing hopes of economic recovery. The yield on benchmark five-year treasury bonds rose 5 basis points to 4.86 percent, while the three-year treasury bon
Published 25 Aug, 2009 12:00am
Chinese shares rally

Chinese shares rally

Chinese shares closed up 1.10 percent on Monday led by energy and drug stocks amid bargain hunting after recent steep losses, dealers said. The Shanghai Composite Index, which covers A and B shares, was up 32.66 points at 2,993.43 on turnover of 138.8 bil
Published 25 Aug, 2009 12:00am
China's bond yields supported by drought worries, IPOs

China's bond yields supported by drought worries, IPOs

China's one week-long decline bond yields slowed on Monday after news of a serious drought in a key soy-growing region sparked inflation worries while bill yields rose after the stock regulator said it would review an application for a large IPO.
Published 25 Aug, 2009 12:00am
Australian shares surge 3.16 percent

Australian shares surge 3.16 percent

Australian share prices soared 3.16 percent on Monday on the back of strong commodities prices and positive comments from the US Federal Reserve about prospects for a global recovery, dealers said. The benchmark S&P/ASX200 index finished up 135.5 points a
Published 25 Aug, 2009 12:00am
China's bond yields supported by drought worries, IPOs

China's bond yields supported by drought worries, IPOs

China's one week-long decline bond yields slowed on Monday after news of a serious drought in a key soy-growing region sparked inflation worries while bill yields rose after the stock regulator said it would review an application for a large IPO.
Published 25 Aug, 2009 12:00am
JGB futures retreat

JGB futures retreat

Japanese government bonds fell on Monday, with futures retreating from five-month highs hit the previous week, hurt by a sharp fall in US Treasuries and a 3.4 percent surge for Tokyo's Nikkei stock average. The bond market also felt selling pressure from
Published 25 Aug, 2009 12:00am
JGB futures retreat

JGB futures retreat

Japanese government bonds fell on Monday, with futures retreating from five-month highs hit the previous week, hurt by a sharp fall in US Treasuries and a 3.4 percent surge for Tokyo's Nikkei stock average. The bond market also felt selling pressure from
Published 25 Aug, 2009 12:00am
Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China on Monday signed a Memorandum of Understanding (MoU) to promote co-operation in river fisheries and related technologies. President Asif Ali Zardari was also present at the signing ceremony between Indus River Fresh Water Fisheries Rese
Published 25 Aug, 2009 12:00am
New Zealand shares soar

New Zealand shares soar

New Zealand share prices closed 1.08 percent higher on Monday, following a lead from US markets, dealers said. The benchmark NZX-50 index rose 32.72 points to 3,067.67 on turnover worth 110.6 million dollars (75.7 million US). There were 61 rises and 21 f
Published 25 Aug, 2009 12:00am
Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China on Monday signed a Memorandum of Understanding (MoU) to promote co-operation in river fisheries and related technologies. President Asif Ali Zardari was also present at the signing ceremony between Indus River Fresh Water Fisheries Rese
Published 25 Aug, 2009 12:00am
Seoul shares at 13-month high

Seoul shares at 13-month high

Seoul shares posted their highest close in 13 months on Monday, fuelled by technology issues as Samsung Electronics posted its highest finish ever on an increasingly bullish sector outlook. The Korea Composite Stock Price Index (KOSPI) ended up 1.98 perce
Published 25 Aug, 2009 12:00am
Global stocks and oil rally

Global stocks and oil rally

European and Asian stocks extended last week's rally on Monday and crude oil marched higher after US economic news and stronger-than-expected data from the eurozone spurred expectations for economic recovery. But an early rally in US stocks faded about mi
Published 25 Aug, 2009 12:00am
Taiwan stocks end firmer

Taiwan stocks end firmer

Taiwan stocks closed up 2.76 percent on Monday, boosted by technology shares such as HTC after China Mobile announced plans to form alliances with the smartphone maker and other Taiwanese technology companies. The main TAIEX share index finished 183.45 po
Published 25 Aug, 2009 12:00am
Global stocks and oil rally

Global stocks and oil rally

European and Asian stocks extended last week's rally on Monday and crude oil marched higher after US economic news and stronger-than-expected data from the eurozone spurred expectations for economic recovery. But an early rally in US stocks faded about mi
Published 25 Aug, 2009 12:00am
Germany wants GM talks on Opel this week: Berlin

Germany wants GM talks on Opel this week: Berlin

Germany said Monday it wants a GM executive to come to Berlin this week to discuss the fate of its European unit Opel, after the US firm failed to choose a buyer as Chancellor Angela Merkel had hoped. "Our aim is to organise this week a meeting in Berlin
Published 25 Aug, 2009 12:00am
Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China sign MoU on cooperation in river fisheries

Pakistan and China on Monday signed a Memorandum of Understanding (MoU) to promote co-operation in river fisheries and related technologies. President Asif Ali Zardari was also present at the signing ceremony between Indus River Fresh Water Fisheries Rese
Published 25 Aug, 2009 12:00am
Philippines shares make gains

Philippines shares make gains

Philippines share prices surged on Monday to close 5.11 percent higher, lifted by a rally on Wall Street and positive economic developments in the United States, dealers said. The composite index gained 139 points to close at 2,859.18 while the all-shares
Published 25 Aug, 2009 12:00am
Global stocks and oil rally

Global stocks and oil rally

European and Asian stocks extended last week''s rally on Monday and crude oil marched higher after US economic news and stronger-than-expected data from the eurozone spurred expectations for economic recovery. But an early rally in US stocks faded about m
Published 25 Aug, 2009 12:00am
Hong Kong shares close 1.67 percent higher

Hong Kong shares close 1.67 percent higher

Hong Kong share prices closed 1.67 percent higher on Monday following a surge on Wall Street at the end of last week, dealers said. The benchmark Hang Seng Index finished the session 336.92 points higher at 20,535.94. Turnover was 62.21 billion Hong Kong
Published 25 Aug, 2009 12:00am
Qureshi meets Holbrooke

Qureshi meets Holbrooke

Foreign Minister, Shah Mehmood Qureshi called on US Special Representative on Pakistan and Afghanistan, Richard Holbrooke on the sideline of senior officials meeting of Friends of Democratic Pakistan (FODP) and discussed matters of mutual interest and bil
Published 25 Aug, 2009 12:00am
Hong Kong tycoon makes Birmingham buyout bid

Hong Kong tycoon makes Birmingham buyout bid

Hong Kong tycoon Carson Yeung said Monday he has offered 57.13 million pounds (94.7 million US) to buy English Premier League team Birmingham City, promising money to buy new players. Yeung, whose Hong Kong-listed Grandtop International has a 29.9 percent
Published 25 Aug, 2009 12:00am
Qureshi meets Holbrooke

Qureshi meets Holbrooke

Foreign Minister, Shah Mehmood Qureshi called on US Special Representative on Pakistan and Afghanistan, Richard Holbrooke on the sideline of senior officials meeting of Friends of Democratic Pakistan (FODP) and discussed matters of mutual interest and bil
Published 25 Aug, 2009 12:00am
Drought stretches India budget; more borrowing unlikely

Drought stretches India budget; more borrowing unlikely

A poor monsoon threatens to worsen India's already steep fiscal deficit as it spends on food imports and relief for farmers, although the government is seen tapping the bond market only as a last resort to fund any further shortfall. With investors alread
Published 25 Aug, 2009 12:00am
Import cargo: declaration of packing lists, invoices made compulsory

Import cargo: declaration of packing lists, invoices made compulsory

The Federal Board of Revenue (FBR) has made it compulsory for all the importers to declare packing lists and invoices inside the containers for clearance of imported consignments to check misdeclaration and under-invoicing of import cargo. The FBR on Mond
Published 25 Aug, 2009 12:00am
Toyota to conduct biggest recall yet in China

Toyota to conduct biggest recall yet in China

Japan's Toyota Motor Co announced Monday its biggest ever recall in China, affecting about 688,000 vehicles, due to a defect in the electric window system. The recall covers four sedan models - the Camry, Yaris, Corolla and Vios - produced in China by two
Published 25 Aug, 2009 12:00am
OPS formula: junior officers posted against senior positions

OPS formula: junior officers posted against senior positions

The recent analysis of the notifications issued by Federal Board of Revenue on transfers and postings clearly indicates bulk of higher grade promotions applying own pay and scale (OPS) formula. A review of the FBR notifications issued by the Admin Wing du
Published 25 Aug, 2009 12:00am
China economy to grow eight percent in 2010

China economy to grow eight percent in 2010

China's economic growth is likely to stay at 8 percent next year as property and corporate investment and rising exports take up the slack from waning government investment, central bank adviser Fan Gang said in remarks reported on Monday. Fan added that
Published 25 Aug, 2009 12:00am
Import cargo: declaration of packing lists, invoices made compulsory

Import cargo: declaration of packing lists, invoices made compulsory

The Federal Board of Revenue (FBR) has made it compulsory for all the importers to declare packing lists and invoices inside the containers for clearance of imported consignments to check misdeclaration and under-invoicing of import cargo. The FBR on Mond
Published 25 Aug, 2009 12:00am
Foreign business warns Philippines on labour bill

Foreign business warns Philippines on labour bill

Overseas investors will flee the Philippines if Congress passes a bill making it harder to hire short-term workers or lay-off employees, foreign businesses warned on Monday. Chambers of commerce representing foreign businesses including those from the Uni
Published 25 Aug, 2009 12:00am
Import cargo: declaration of packing lists, invoices made compulsory

Import cargo: declaration of packing lists, invoices made compulsory

The Federal Board of Revenue (FBR) has made it compulsory for all the importers to declare packing lists and invoices inside the containers for clearance of imported consignments to check misdeclaration and under-invoicing of import cargo. The FBR on Mond
Published 25 Aug, 2009 12:00am
Iraq could blacklist Sinopec after Addax deal

Iraq could blacklist Sinopec after Addax deal

Iraq's Oil Ministry will blacklist China's Sinopec Corp and prohibit it from competing in a second bidding round for oilfield tenders if it confirms its purchase of Swiss oil explorer Addax Petroleum Corp, a senior Iraqi oil official said on Monday.
Published 25 Aug, 2009 12:00am
OPS formula: junior officers posted against senior positions

OPS formula: junior officers posted against senior positions

The recent analysis of the notifications issued by Federal Board of Revenue on transfers and postings clearly indicates bulk of higher grade promotions applying own pay and scale (OPS) formula. A review of the FBR notifications issued by the Admin Wing du
Published 25 Aug, 2009 12:00am
UK MPs urge crackdown on unsafe foreign trucks

UK MPs urge crackdown on unsafe foreign trucks

MPs called on Monday for the agency that carries out safety checks on lorries on Britain's roads to be given more powers after a high proportion of unsafe vehicles were found to be foreign-owned. A report by the House of Commons Transport Committee found
Published 25 Aug, 2009 12:00am
OPS formula: junior officers posted against senior positions

OPS formula: junior officers posted against senior positions

The recent analysis of the notifications issued by Federal Board of Revenue on transfers and postings clearly indicates bulk of higher grade promotions applying own pay and scale (OPS) formula. A review of the FBR notifications issued by the Admin Wing du
Published 25 Aug, 2009 12:00am
Bangladesh to get $500 million from ADB

Bangladesh to get $500 million from ADB

Bangladesh will get a $500 million loan from the Asian Development Bank (ADB) to counter the second round of global economic meltdown, a senior official said on Monday. "The hard-term loan will be utilised for weathering the impact of the global economic
Published 25 Aug, 2009 12:00am
Agriculture credit disbursement up by 19 percent in July 2009

Agriculture credit disbursement up by 19 percent in July 2009

Agricultural credit disbursement by commercial and specialised banks increased by 19 percent year-on-year basis to Rs 17.847 billion in the first month of current fiscal year (2009-10). In absolute term, disbursement of credit to the agriculture sector in
Published 25 Aug, 2009 12:00am
Policy-makers must avoid bubbles with low rates: BoJ Shirakawa

Policy-makers must avoid bubbles with low rates: BoJ Shirakawa

Policy-makers must avoid economic bubbles fostered by expectations that interest rates will remain low, Bank of Japan (BoJ) Governor Masaaki Shirakawa told an annual summit of central bankers in the United States. Shirakawa's emphasis on the risks of ultr
Published 25 Aug, 2009 12:00am
MQM urges Chief Justice to probe 'Jinnahpur drama'

MQM urges Chief Justice to probe 'Jinnahpur drama'

The Muttahida Qaumi Movement (MQM) chief on Monday urged Chief Justice Iftikhar Muhammad Chowdhry to start a probe into what he called 'Jinnahpur conspiracy'. In a video press conference aired in Lahore and Rawalpindi Press Clubs and 19 other locations in
Published 25 Aug, 2009 12:00am
Rolls-Royce wins PetroChina contracts

Rolls-Royce wins PetroChina contracts

British group Rolls-Royce on Monday said it had won two contracts from PetroChina for power systems to be installed on the West to East Gas Pipeline Project stretching across China. Rolls-Royce said the value of the orders exceeded 120 million dollars (84
Published 25 Aug, 2009 12:00am
MQM urges Chief Justice to probe 'Jinnahpur drama'

MQM urges Chief Justice to probe 'Jinnahpur drama'

The Muttahida Qaumi Movement (MQM) chief on Monday urged Chief Justice Iftikhar Muhammad Chowdhry to start a probe into what he called 'Jinnahpur conspiracy'. In a video press conference aired in Lahore and Rawalpindi Press Clubs and 19 other locations in
Published 25 Aug, 2009 12:00am
Sinopec speeds ahead with investment plans

Sinopec speeds ahead with investment plans

China's Sinopec Corp, the world's No 2 oil refiner, plans to keep investing at a brisk pace through 2011 though margin pressure may mean quarterly profits fall back from record levels. Sinopec will spend 120 billion yuan ($17.57 billion) in each of the ne
Published 25 Aug, 2009 12:00am
Equities show healthy signs on ISE

Equities show healthy signs on ISE

Equities showed healthy signs under the lead of hot favourite at the Islamabad Stock Exchange (ISE), where bulls returned in the front seat under the lead of trend-setters amid increase in index. ISE Ten Index was plus by 68.29 points as the ISE Ten Index
Published 25 Aug, 2009 12:00am
Nigeria bourse boss denies debts

Nigeria bourse boss denies debts

The head of Nigeria's stock exchange on Monday denied being among debtors owing banks billions of dollars, the latest high-profile business figure to join a showdown with the country's new central bank governor. The regulator last week published a list of
Published 25 Aug, 2009 12:00am
Equities show healthy signs on ISE

Equities show healthy signs on ISE

Equities showed healthy signs under the lead of hot favourite at the Islamabad Stock Exchange (ISE), where bulls returned in the front seat under the lead of trend-setters amid increase in index. ISE Ten Index was plus by 68.29 points as the ISE Ten Index
Published 25 Aug, 2009 12:00am
Nigeria bourse boss denies debts

Nigeria bourse boss denies debts

The head of Nigeria's stock exchange on Monday denied being among debtors owing banks billions of dollars, the latest high-profile business figure to join a showdown with the country's new central bank governor. The regulator last week published a list of
Published 25 Aug, 2009 12:00am
Agriculture credit disbursement up by 19 percent in July 2009

Agriculture credit disbursement up by 19 percent in July 2009

Agricultural credit disbursement by commercial and specialised banks increased by 19 percent year-on-year basis to Rs 17.847 billion in the first month of current fiscal year (2009-10). In absolute term, disbursement of credit to the agriculture sector in
Published 25 Aug, 2009 12:00am
UAE banks face funding challenge: Goldman Sachs

UAE banks face funding challenge: Goldman Sachs

UAE banks, whose second-quarter profits were hit by credit provisions, may see growth curbed by difficult funding conditions but their overall profitability is attractive, Goldman Sachs said on Monday. The bank earlier revised its ratings and stock price
Published 25 Aug, 2009 12:00am
Foreign experts arrive to put out Sui gas field fire

Foreign experts arrive to put out Sui gas field fire

Pakistan Petroleum Limited has hired the services of a Singaporean firm to put out the fire which has engulfed the well No 38 of the Sui Gas Field for the last 40 days, an official said. "The fire is not of ordinary nature as such fires occur very rarely,
Published 25 Aug, 2009 12:00am
Russia's GDP up in July

Russia's GDP up in July

Russia's economy grew 0.5 percent in July month-on-month, data showed on Monday, giving hope the recession might be coming to its end, but officials warned it is too soon to say the crisis is over. Investors are looking for signs of green shoots after low
Published 25 Aug, 2009 12:00am
Agriculture credit disbursement up by 19 percent in July 2009

Agriculture credit disbursement up by 19 percent in July 2009

Agricultural credit disbursement by commercial and specialised banks increased by 19 percent year-on-year basis to Rs 17.847 billion in the first month of current fiscal year (2009-10). In absolute term, disbursement of credit to the agriculture sector in
Published 25 Aug, 2009 12:00am
Thailand escapes recession

Thailand escapes recession

Thailand's economy emerged from its worst recession in 11 years in the second quarter, growing 2.3 percent from the first quarter as manufacturing rebounded, adding to signs of recovery in Asia's export-reliant economies. But state officials and economist
Published 25 Aug, 2009 12:00am
Foreign experts arrive to put out Sui gas field fire

Foreign experts arrive to put out Sui gas field fire

Pakistan Petroleum Limited has hired the services of a Singaporean firm to put out the fire which has engulfed the well No 38 of the Sui Gas Field for the last 40 days, an official said. "The fire is not of ordinary nature as such fires occur very rarely,
Published 25 Aug, 2009 12:00am
New indices show banks face costly capital-raising

New indices show banks face costly capital-raising

New investment-grade bond indexes that exclude low-ranking bank debt have entered the market - a recent sign of soured investor sentiment that will force banks to pay high yields to raise Tier 1 core capital. The financial crisis has reduced subordinated
Published 25 Aug, 2009 12:00am
Foreign experts arrive to put out Sui gas field fire

Foreign experts arrive to put out Sui gas field fire

Pakistan Petroleum Limited has hired the services of a Singaporean firm to put out the fire which has engulfed the well No 38 of the Sui Gas Field for the last 40 days, an official said. "The fire is not of ordinary nature as such fires occur very rarely,
Published 25 Aug, 2009 12:00am
World Bank, India agree on $1.2 billion loan for banks

World Bank, India agree on $1.2 billion loan for banks

India has finalised negotiations for a $1.2 billion loan from the World Bank to help recapitalise state-run banks, a bank spokesman said on Monday. The spokesman said the board of the World Bank board had to approve it at a meeting in late September, and
Published 25 Aug, 2009 12:00am
UN chief taps French diplomat as envoy to Pakistan

UN chief taps French diplomat as envoy to Pakistan

UN chief Ban Ki-moon has appointed French UN ambassador Jean-Maurice Ripert as his special envoy in charge of humanitarian affairs for Pakistan, diplomatic sources told AFP on Monday. Ripert would hold the renewable position for an initial six months, sou
Published 25 Aug, 2009 12:00am
New indices show banks face costly capital-raising

New indices show banks face costly capital-raising

New investment-grade bond indexes that exclude low-ranking bank debt have entered the market - a recent sign of soured investor sentiment that will force banks to pay high yields to raise Tier 1 core capital. The financial crisis has reduced subordinated
Published 25 Aug, 2009 12:00am
Ex-Guantanamo detainee sent to Afghanistan

Ex-Guantanamo detainee sent to Afghanistan

Mohammed Jawad, 19, one of the youngest detainees held at the US "war on terror" prison in Guantanamo Bay, Cuba, was released Monday and sent back to his native Afghanistan, his lawyer said. The announcement days after the White House said a group of six
Published 25 Aug, 2009 12:00am
Eurozone industrial orders rebound

Eurozone industrial orders rebound

Euro zone industrial new orders rebounded more than expected in June against the previous month, adding to signs of economic recovery as a strengthening global economy created demand for eurozone goods. Orders rose 3.1 percent month-on-month for a 25.1 pe
Published 25 Aug, 2009 12:00am
UN chief taps French diplomat as envoy to Pakistan

UN chief taps French diplomat as envoy to Pakistan

UN chief Ban Ki-moon has appointed French UN ambassador Jean-Maurice Ripert as his special envoy in charge of humanitarian affairs for Pakistan, diplomatic sources told AFP on Monday. Ripert would hold the renewable position for an initial six months, sou
Published 25 Aug, 2009 12:00am
India plans 6,000 megawatts power project in Iran

India plans 6,000 megawatts power project in Iran

India is considering building a gas-based 6,000 megawatts (MW) power plant in Iran along with a 1,500 kilometres high voltage transmission link to carry power to India, the Hindustan Times newspaper reported on Monday. The project is expected to cost abou
Published 25 Aug, 2009 12:00am
Zardari invites Chinese entrepreneurs to invest

Zardari invites Chinese entrepreneurs to invest

President Asif Ali Zardari has said Pakistan offers ideal investment climate for foreign investors and invited businessmen and entrepreneurs to set up businesses in the country. Speaking at a forum Pakistan-Guangdong Trade and Investment Opportunities: Cu
Published 25 Aug, 2009 12:00am
China to keep policy loose as economy faces new woes

China to keep policy loose as economy faces new woes

China will maintain its stimulative policy stance because the economy, far from being on solid footing, is facing fresh difficulties, Premier Wen Jiabao said on Monday. In a downbeat statement on the government's website following a trip to the eastern pr
Published 25 Aug, 2009 12:00am
Three Nato troops killed in Afghanistan

Three Nato troops killed in Afghanistan

Three Nato troops two from Estonia and one from the United States _ were killed in attacks in southern Afghanistan as fraud charges continued to pour in Monday from last week's turbulent presidential vote. The American service member died in an insurgent
Published 25 Aug, 2009 12:00am
Taiwan's orders from China rise for first time in a year

Taiwan's orders from China rise for first time in a year

Taiwan's export orders from China rose for the first time in a year, data showed on Monday, backing views the world's second biggest economy will help drive the region's recovery. Taiwan's overall export orders in July fell 8.77 percent from a year earlie
Published 25 Aug, 2009 12:00am
Three Nato troops killed in Afghanistan

Three Nato troops killed in Afghanistan

Three Nato troops two from Estonia and one from the United States _ were killed in attacks in southern Afghanistan as fraud charges continued to pour in Monday from last week's turbulent presidential vote. The American service member died in an insurgent
Published 25 Aug, 2009 12:00am
Malaysian palm oil climbs

Malaysian palm oil climbs

Malaysian crude palm oil futures rose 1.3 percent on Monday, but came off a one-week high hit earlier in the day following market talk of a drop in palm oil exports for the August 1-25 period, traders said. Palm gave up about half of the day's gain after
Published 25 Aug, 2009 12:00am
Ex-Guantanamo detainee sent to Afghanistan

Ex-Guantanamo detainee sent to Afghanistan

Mohammed Jawad, 19, one of the youngest detainees held at the US "war on terror" prison in Guantanamo Bay, Cuba, was released Monday and sent back to his native Afghanistan, his lawyer said. The announcement days after the White House said a group of six
Published 25 Aug, 2009 12:00am
Surging retail sales lift hopes for Canada's economy

Surging retail sales lift hopes for Canada's economy

Canadian retail sales grew much faster than expected in June, the latest in a series of upbeat economic numbers to raise hopes the economy is pulling out of recession. Sales jumped 1 percent from May, far surpassing forecasts for a 0.2 percent increase, S
Published 25 Aug, 2009 12:00am
Zardari invites Chinese entrepreneurs to invest

Zardari invites Chinese entrepreneurs to invest

President Asif Ali Zardari has said Pakistan offers ideal investment climate for foreign investors and invited businessmen and entrepreneurs to set up businesses in the country. Speaking at a forum Pakistan-Guangdong Trade and Investment Opportunities: Cu
Published 25 Aug, 2009 12:00am
Indonesia mulls cutting sugar import duty

Indonesia mulls cutting sugar import duty

Indonesia is considering cutting an import duty on raw and white sugar to ease local prices, which have hit records in line with global sugar prices, a senior economic official said on Monday. "That is the most likely step the government can take. Import
Published 25 Aug, 2009 12:00am
Sugar prices: CCP urges government to discourage cartelisation

Sugar prices: CCP urges government to discourage cartelisation

The Competition Commission of Pakistan (CCP) has urged the government to desist from entering into any arrangement that would encourage collusive behaviour among economic agents in any sector, with special reference to the crisis in sugar prices. Talking
Published 25 Aug, 2009 12:00am
Soya climbs

Soya climbs

US soyabean futures jumped more than 2 percent on Monday, extending gains to a one-week high as strong Chinese demand and hopes of economic recovery triggered a broad rally in commodity markets. Corn rose around 1 percent on spill-over strength from soyab
Published 25 Aug, 2009 12:00am
Zardari invites Chinese entrepreneurs to invest

Zardari invites Chinese entrepreneurs to invest

President Asif Ali Zardari has said Pakistan offers ideal investment climate for foreign investors and invited businessmen and entrepreneurs to set up businesses in the country. Speaking at a forum Pakistan-Guangdong Trade and Investment Opportunities: Cu
Published 25 Aug, 2009 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin rose 1.6 percent on Monday as London Metal Exchange pries gained and on Japanese demand, one dealer said.
Published 25 Aug, 2009 12:00am
Sugar prices: CCP urges government to discourage cartelisation

Sugar prices: CCP urges government to discourage cartelisation

The Competition Commission of Pakistan (CCP) has urged the government to desist from entering into any arrangement that would encourage collusive behaviour among economic agents in any sector, with special reference to the crisis in sugar prices. Talking
Published 25 Aug, 2009 12:00am
Vietnamese rice exports jump

Vietnamese rice exports jump

Vietnam's January to August rice exports surged 43 percent from the same period last year to an estimated 4.7 million tonnes, the government said on Monday. The General Statistics Office estimated the eight-month rice exports would generate $2.15 billion,
Published 25 Aug, 2009 12:00am
Sugar prices: CCP urges government to discourage cartelisation

Sugar prices: CCP urges government to discourage cartelisation

The Competition Commission of Pakistan (CCP) has urged the government to desist from entering into any arrangement that would encourage collusive behaviour among economic agents in any sector, with special reference to the crisis in sugar prices. Talking
Published 25 Aug, 2009 12:00am
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