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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-09-18
Thai shares lower

Thai shares lower

The Thai stock market lost 0.14 percent Thursday due to profit-taking and investor concerns over planned anti-government protests at the weekend, analyst said. The Stock Exchange of Thailand (SET) composite index shed 1.02 points to close at 709.23 while
Published 18 Sep, 2009 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The dollar fell broadly on Thursday, hitting a one-year low against the euro, as equities and commodities advanced on expectations of economic recovery. European stocks rose half a percent, tracking Asian equities and Wall Street higher after data on Wedn
Published 18 Sep, 2009 12:00am
Sterling edges up

Sterling edges up

Sterling edged up against the dollar on Thursday but saw gains versus the euro wiped out after surprisingly weak UK retail sales data reinforced the view UK interest rates will stay at record lows for some time to come. British retail sales were flat in A
Published 18 Sep, 2009 12:00am
China and Russia navies on joint anti-piracy patrols

China and Russia navies on joint anti-piracy patrols

The Russian and Chinese navies have joined forces in anti-piracy patrols off the Somali coast and will stage joint exercises this week, Chinese state media said Thursday. China's three-ship flotilla began running joint patrols with Russian ships on Septem
Published 18 Sep, 2009 12:00am
US rethinks shield after downgrading Iran threat: Pentagon

US rethinks shield after downgrading Iran threat: Pentagon

The United States said Thursday it plans to replace its European missile defence project with a more flexible system following a downgrading of the long-range missile threat posed by Iran. "The previous design was predicated on the belief Iran was determi
Published 18 Sep, 2009 12:00am
Taiwan laboratory develops panda robot

Taiwan laboratory develops panda robot

The world's first panda robot is taking shape at a cutting-edge lab in Taiwan where an ambitious group of scientists hope to add new dimensions to the island's reputation as a high-tech power. The Centre for Intelligent Robots Research aims to develop pan
Published 18 Sep, 2009 12:00am
Nine Somalia peacekeers killed in suicide attack on base

Nine Somalia peacekeers killed in suicide attack on base

Two powerful explosions ripped through the headquarters of African Union peacekeepers in Somalia Thursday, killing nine soldiers including the deputy commander, the Ugandan army said. The army said the force commander, Ugandan General Nathan Mugisha, was
Published 18 Sep, 2009 12:00am
US scraps Bush-era smog rule and will start over

US scraps Bush-era smog rule and will start over

The Obama administration signalled Wednesday that it would scrap a controversial Bush-era rule that set stricter limits for smog but fell short of scientific recommendations. In a notice filed Wednesday in a federal appeals court, the Justice Department s
Published 18 Sep, 2009 12:00am
UK labour unions approve Israeli goods boycott

UK labour unions approve Israeli goods boycott

British labour unions on Thursday agreed to support a boycott of some Israeli goods in response to the offensive in Gaza. The boycott, approved at the annual conference of the Trades Union Congress, calls for a ban on importing goods produced in some Isra
Published 18 Sep, 2009 12:00am
Kazakhs unveil vast new electricity grid

Kazakhs unveil vast new electricity grid

Kazakhstan inaugurated a vast electricity grid on Thursday that authorities hope will end chronic power shortages that have blighted the former Soviet nation's industrial southern regions. President Nursultan Nazarbayev, who presided at the unveiling of t
Published 18 Sep, 2009 12:00am
European journalists protest against Berlusconi

European journalists protest against Berlusconi

International media unions in Brussels mounted a protest Thursday against Italian Prime Minister Silvio Berlusconi over his alleged attempts to intimidate European newspapers which have reported extensively about his controversial private life. The Intern
Published 18 Sep, 2009 12:00am
India calls off meeting to discuss Chinese 'incursions'

India calls off meeting to discuss Chinese 'incursions'

A meeting scheduled Thursday of the Indian government's China policy group amid reports of increased incursions by Chinese troops across the border has been postponed, news reports said.The meeting called by National Security Advisor MK Narayanan was put
Published 18 Sep, 2009 12:00am
Myanmar grants amnesty to 7,000 prisoners: state TV

Myanmar grants amnesty to 7,000 prisoners: state TV

Military-ruled Myanmar is to free 7,114 prisoners in an amnesty, state television said Thursday, but it was not clear if any political detainees would be released. State television said the prisoners were being freed on "humanitarian grounds" starting fro
Published 18 Sep, 2009 12:00am
More than 80 civilians killed in Yemen air raid

More than 80 civilians killed in Yemen air raid

More than 80 civilians were killed in an air raid which blasted a makeshift camp of displaced people in northern Yemen, witnesses said on Thursday, as the army pursued its offensive on Shia rebels. One witness, reached by telephone, told AFP that most of
Published 18 Sep, 2009 12:00am
China anniversary puts security jitters on show

China anniversary puts security jitters on show

The Chinese government is flooding Beijing with armed police and up to one million security "volunteers" to head off any unrest over October's sensitive anniversary of 60 years of Communist Party rule. The relentless security has grounded pigeons, lined s
Published 18 Sep, 2009 12:00am
US couples jailed in Egypt for child trafficking

US couples jailed in Egypt for child trafficking

A Cairo court on Thursday jailed two US couples of Egyptian origin for illegal child trafficking, sentencing them to two years behind bars. Iris Botros and her husband Luis Andraos, Suzanne Hagolf and her husband Medhat Metyas were sentenced to two years
Published 18 Sep, 2009 12:00am
Terror mastermind Noordin dead in Indonesia raid

Terror mastermind Noordin dead in Indonesia raid

Armed Indonesian police stormed an Islamic militant hideout early Thursday in a raid that killed fugitive terror mastermind Noordin Mohammed Top and three other militants, police said. Noordin's body was among four recovered after the early morning raid o
Published 18 Sep, 2009 12:00am
Afghanistan needs interim government: think tank

Afghanistan needs interim government: think tank

Setting up an interim government is the only way to lead Afghanistan out of the political quagmire created by allegations of massive fraud during key elections, a London-based think tank said Thursday. Incumbent Hamid Karzai is on track to win the August
Published 18 Sep, 2009 12:00am
Cheney hospitalised for elective back surgery

Cheney hospitalised for elective back surgery

Former US Vice President Dick Cheney is having elective back surgery at a Washington hospital. Cheney spokeswoman Lucy Tutwiler says the surgery Thursday is to deal with lumbar spinal stenosis, a common cause of lower back pain in older adults. Spinal ste
Published 18 Sep, 2009 12:00am
US closes its largest Iraq jail in the heat of the night

US closes its largest Iraq jail in the heat of the night

In the heat of the night of the Iraqi desert, the US military transferred the last 180 prisoners out of Camp Bucca and padlocked its largest detention centre in Iraq. High-risk prisoners were relocated from the remote jail in southernmost Iraq to Camp Cro
Published 18 Sep, 2009 12:00am
Queen mother abhorred Charles, Diana outbursts: biography

Queen mother abhorred Charles, Diana outbursts: biography

Queen Elizabeth the Queen Mother thought it was "utterly abhorrent" when Prince Charles and princess Diana went public on their marriage failings, according to her official biography released Thursday. The biography also revealed that the queen mother, wh
Published 18 Sep, 2009 12:00am
Iraq shoe-thrower in Greece for medical treatment

Iraq shoe-thrower in Greece for medical treatment

The Iraqi journalist jailed for throwing his shoes at former US president George W. Bush has arrived in Greece following his release, Iraqi diplomats said Thursday. TV reporter Muntazer al-Zaidi went to Greece for medical treatment after suffering torture
Published 18 Sep, 2009 12:00am
Anti-Semitism row overshadows UNESCO leader vote

Anti-Semitism row overshadows UNESCO leader vote

World envoys to the United Nations cultural organisation UNESCO started voting on Thursday for a new chief, as the Egyptian frontrunner for the job battled to fight off charges of anti-Semitism. Egypt's culture minister for 22 years, Faruq Hosni is seen a
Published 18 Sep, 2009 12:00am
Younus wants strong West Indies in Champions Trophy

Younus wants strong West Indies in Champions Trophy

Skipper Younus Khan said Thursday he would love to compete against a strong West Indies in the upcoming Champions Trophy as the Pakistan squad flew out for the tournament. A long-standing players' contract row forced the West Indies Cricket Board to enter
Published 18 Sep, 2009 12:00am
Sri Lanka happy to be Champions Trophy underdogs

Sri Lanka happy to be Champions Trophy underdogs

Sri Lanka are happy not to be among the favourites to win the Champions Trophy, their captain Kumar Sangakkara said on Thursday. Sri Lanka face South Africa, New Zealand and England in Group B, with only the hosts ranked above them in the International Cr
Published 18 Sep, 2009 12:00am
Dhoni's India bank on consistency

Dhoni's India bank on consistency

Mahendra Singh Dhoni's India will be keen to maintain their consistency to fulfil their fans' expectations at the Champions Trophy starting in South Africa next week. India disappointed in the tournament's last edition at home in 2006 when they failed to
Published 18 Sep, 2009 12:00am
PFF announces new pay scale for technical officials

PFF announces new pay scale for technical officials

Pakistan Football Federation (PFF) President has approved new pay scale for Technical Officials to conduct Pakistan Premier Football League (PPFL) 2009 matches. The revised pay scale for Technical Officials will come into force when Pakistan Premier Footb
Published 18 Sep, 2009 12:00am
Manchester City's Adebayor handed three-match ban

Manchester City's Adebayor handed three-match ban

Manchester City striker Emmanuel Adebayor was handed a three-match ban for violent conduct by the English Football Association on Thursday. The Togo international had accepted the charge for a malicious stamp on Arsenal's Dutch striker Robin van Persie du
Published 18 Sep, 2009 12:00am
Reprieved Eduardo seals superb Arsenal fightback

Reprieved Eduardo seals superb Arsenal fightback

Arsenal's Eduardo da Silva, playing two days after his diving ban was lifted on appeal, celebrated his reprieve by scoring a late winner in a dramatic 3-2 Champions League win at Standard Liege on Wednesday. The Brazilian-born Croatia striker netted from
Published 18 Sep, 2009 12:00am
New Zealand dollar skirts 13-month highs

New Zealand dollar skirts 13-month highs

The New Zealand dollar hovered within sight of a 13-month high on Thursday, as investors moved to buy riskier, higher yielding assets amid rising confidence about global economic recovery. Kiwi in a tight range around $0.7140, after touching an offshore h
Published 18 Sep, 2009 12:00am
Yuan ends down

Yuan ends down

The Chinese yuan ended down against the dollar on Thursday after China's central bank set the mid-point at nearly a four-month high as the US dollar index hovered around one-year lows. Before trade began, the People's Bank of China set the yuan's daily mi
Published 18 Sep, 2009 12:00am
Asian currencies: rupiah, won at one-year highs

Asian currencies: rupiah, won at one-year highs

Currencies in emerging Asian countries rose sharply on Thursday amid broad dollar weakness with the rupiah, won and baht hitting around one-year highs as risk appetite increased after US industrial output rose in August. The peso hit a one-month highs and
Published 18 Sep, 2009 12:00am
Hong Kong dollar remains strong

Hong Kong dollar remains strong

The Hong Kong dollar stayed close to its upper trading band against the US dollar on Thursday, while short-dated interbank rates kept firm as a large amount of funds were being locked up by recent IPOs. The local currency traded between 7.7500 and 7.7503
Published 18 Sep, 2009 12:00am
Dollar ends near one-year lows

Dollar ends near one-year lows

The dollar dropped to near one-year lows against the euro and a basket of currencies on Wednesday as optimism about the global economy eroded the greenback's safe-haven appeal. US stocks hit fresh 2009 highs as increased industrial production reinforced h
Published 18 Sep, 2009 12:00am
Dollar firm

Dollar firm

The dollar stayed on the defensive on Thursday as investors added to long positions in growth-linked currencies and lifted the Australian dollar to a one-year peak, encouraged by growing evidence of a global recovery. Asian stocks tracked Wall Street high
Published 18 Sep, 2009 12:00am
Swiss franc hits fresh high

Swiss franc hits fresh high

The Swiss franc hit a fresh one year high against the dollar on Thursday ahead of a scheduled Swiss National Bank interest rate decision due later in the session. The US dollar has sunk against other currencies in recent sessions as investors' are encoura
Published 18 Sep, 2009 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 0.12 percent higher on Thursday, lifted by an upturn on Wall Street, dealers said. The composite index gained 3.36 points to 2,771.97 while the all-shares index gained 0.47 percent to 1,787.09. There were 53 gainers against
Published 18 Sep, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 0.48 percent Thursday due to broad based gains prompted by a rally in US stocks, dealers said. The Kuala Lumpur Composite Index gained 5.82 points to close at 1,218.80 while gainers outpaced decliners 397 to 222. The bourse coul
Published 18 Sep, 2009 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose for a third session on Thursday to hit a new near-15-month closing high, helped by gains in blue chips including Samsung Elec and shipbuilders such as Daewoo Shipbuilding. The Korea Composite Stock Price Index (KOSPI) finished up 0.72 pe
Published 18 Sep, 2009 12:00am
Hong Kong, Chinese shares surge

Hong Kong, Chinese shares surge

Hong Kong shares rose on Thursday to close at a high for this year, with China shares also higher, tracking firmer markets overseas and fuelled by ample liquidity and optimism for more positive economic data. Sentiment in Shanghai stayed positive on hopes
Published 18 Sep, 2009 12:00am
Treasuries decline

Treasuries decline

Shorter dated US Treasuries slipped in volatile trade on Wednesday after the second day of surprisingly strong data fuelled expectations of a robust economic recovery. Firmer-than-expected data on consumer prices and industrial output followed Tuesday's u
Published 18 Sep, 2009 12:00am
Indonesian shares slightly higher

Indonesian shares slightly higher

Indonesian shares ended 0.72 percent higher Thursday led by gains in banks, dealers said. The Jakarta Composite Index gained 17.64 points to 2,456.99. "The index may rise to 2,500 in the near term," a trader told Dow Jones Newswires. Bank Mandiri gained 3
Published 18 Sep, 2009 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended up 0.5 percent at a 14-month high on Thursday, and Taiwan Mobile shares outperformed after the company bought Carlyle Group's cable TV unit in Taiwan. The main TAIEX finished 37.06 points higher at 7,477.30. Shares of Taiwan Mobile, th
Published 18 Sep, 2009 12:00am
Tokyo stocks gain

Tokyo stocks gain

Japan's Nikkei stock average rose 1.7 percent on Thursday, buoyed by exporters after positive US data strengthened recovery optimism and steelmakers on hope of rising demand, though banking shares weighed on the market. Mitsubishi UFJ Financial Group, Jap
Published 18 Sep, 2009 12:00am
Wall Street rises

Wall Street rises

US stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following economic data that suggested a stronger-than-anticipated global recovery. Energy and manufacturing companies were among the strongest, benefiting from d
Published 18 Sep, 2009 12:00am
Singapore shares end flat

Singapore shares end flat

Singapore shares closed flat Thursday with most investors having already priced in a recent slew of positive economic data, dealers said. The blue chip Straits Times Index edged down 1.82 points or 0.07 percent to 2,672.60. Volume totalled 2.49 billion sh
Published 18 Sep, 2009 12:00am
Treasuries decline

Treasuries decline

Shorter dated US Treasuries slipped in volatile trade on Wednesday after the second day of surprisingly strong data fuelled expectations of a robust economic recovery. Firmer-than-expected data on consumer prices and industrial output followed Tuesday's u
Published 18 Sep, 2009 12:00am
Postal workers' ballot for nation-wide strike

Postal workers' ballot for nation-wide strike

Postal workers will be polled on nation-wide industrial action on Thursday in a long-running dispute over pay and conditions as Royal Mail attempts to push through modernisation. Ballot papers are being sent to 121,000 postal workers across the country. T
Published 18 Sep, 2009 12:00am
New Zealand shares higher

New Zealand shares higher

New Zealand share prices closed 1.13 percent higher Thursday, reflecting gains in the US and Australia, dealers said. The benchmark NZX-50 index rose 35.21 points to 3,152.80 on turnover worth 122.3 million dollars (87.3 million US). Rising stocks outnumb
Published 18 Sep, 2009 12:00am
Swedbank to buy back debt, boost core capital

Swedbank to buy back debt, boost core capital

Sweden's Swedbank moved on Thursday to boost its core capital, announcing plans to buy back up to 3 billion Swedish crowns ($438.8 million) of its Tier 2 debt. Swedbank said it has been given the go ahead from the Swedish Financial Supervisory Authority (
Published 18 Sep, 2009 12:00am
Swedbank to buy back debt, boost core capital

Swedbank to buy back debt, boost core capital

Sweden's Swedbank moved on Thursday to boost its core capital, announcing plans to buy back up to 3 billion Swedish crowns ($438.8 million) of its Tier 2 debt. Swedbank said it has been given the go ahead from the Swedish Financial Supervisory Authority (
Published 18 Sep, 2009 12:00am
Automakers lift Canada factory sales in July

Automakers lift Canada factory sales in July

Canadian factory sales rose in July at their fastest pace in 12 years, supporting expectations that the economy is growing again even though manufacturers are not expected to be the main driver of the recovery. Factory sales surged 5.5 percent in July fro
Published 18 Sep, 2009 12:00am
FED exempted on newspaper advertisements

FED exempted on newspaper advertisements

The Federal Board of Revenue (FBR) has exempted Federal excise duty (FED) on advertisements in newspapers with immediate effect. According to an SRO.802(I)/2009 issued here on Thursday, the board has exempted the FED on advertisement in newspapers and dir
Published 18 Sep, 2009 12:00am
Indian firm eyes European electric car market

Indian firm eyes European electric car market

Indian car maker Reva unveiled two electric cars at the Frankfurt motor show this week and announced the launch in Europe of one model in early 2010 as the buzz for electric vehicles grows louder. In its first major presence at the German show, Reva prese
Published 18 Sep, 2009 12:00am
FED exempted on newspaper advertisements

FED exempted on newspaper advertisements

The Federal Board of Revenue (FBR) has exempted Federal excise duty (FED) on advertisements in newspapers with immediate effect. According to an SRO.802(I)/2009 issued here on Thursday, the board has exempted the FED on advertisement in newspapers and dir
Published 18 Sep, 2009 12:00am
SNB holds rates, sticks to unconventional measures

SNB holds rates, sticks to unconventional measures

The Swiss National Bank kept up on Thursday its drastic measures to boost the economy and fend off deflation, renewing its policy of ultra-low interest rates, bond purchases and interventions to stop the Swiss franc rising. The central bank said after its
Published 18 Sep, 2009 12:00am
FED exempted on newspaper advertisements

FED exempted on newspaper advertisements

The Federal Board of Revenue (FBR) has exempted Federal excise duty (FED) on advertisements in newspapers with immediate effect. According to an SRO.802(I)/2009 issued here on Thursday, the board has exempted the FED on advertisement in newspapers and dir
Published 18 Sep, 2009 12:00am
Indonesia to sell sukuk of over five year maturity at auction

Indonesia to sell sukuk of over five year maturity at auction

Indonesia's finance ministry is likely to sell government Islamic-compliant debt, or sukuk, with a maturity period of more than five years in an auction in October, a senior official at the ministry said on Thursday. The finance ministry plans to hold a r
Published 18 Sep, 2009 12:00am
FED exempted on newspaper advertisements

FED exempted on newspaper advertisements

The Federal Board of Revenue (FBR) has exempted Federal excise duty (FED) on advertisements in newspapers with immediate effect. According to an SRO.802(I)/2009 issued here on Thursday, the board has exempted the FED on advertisement in newspapers and dir
Published 18 Sep, 2009 12:00am
Indonesia to sell sukuk of over five year maturity at auction

Indonesia to sell sukuk of over five year maturity at auction

Indonesia's finance ministry is likely to sell government Islamic-compliant debt, or sukuk, with a maturity period of more than five years in an auction in October, a senior official at the ministry said on Thursday. The finance ministry plans to hold a r
Published 18 Sep, 2009 12:00am
ADB approves $780 million loan for energy projects

ADB approves $780 million loan for energy projects

The Asian Development Bank (ADB) is extending $780 million to Pakistan through a multi-tranche financing facility for priority energy efficiency projects that will secure the country's growing energy needs and reduce its reliance on costly, polluting foss
Published 18 Sep, 2009 12:00am
Russia says too soon to hail end of economic crisis

Russia says too soon to hail end of economic crisis

Russia's economy is past the worst of its steep downturn but the crisis is not over yet and risks to any recovery still remain, the government's anti-crisis tsar told parliament on Wednesday. "We think that the acute, shock phase of the crisis is indeed o
Published 18 Sep, 2009 12:00am
ADB approves $780 million loan for energy projects

ADB approves $780 million loan for energy projects

The Asian Development Bank (ADB) is extending $780 million to Pakistan through a multi-tranche financing facility for priority energy efficiency projects that will secure the country's growing energy needs and reduce its reliance on costly, polluting foss
Published 18 Sep, 2009 12:00am
Taiwan's new Cabinet withdraws 2010 budget

Taiwan's new Cabinet withdraws 2010 budget

Taiwan's new Cabinet Thursday retracted next year's budget, along with massive spending plans meant to bolster the economy, saying it would adjust them. The budget had already been sent to parliament, but legislators will now have to wait for a new propos
Published 18 Sep, 2009 12:00am
ADB approves $780 million loan for energy projects

ADB approves $780 million loan for energy projects

The Asian Development Bank (ADB) is extending $780 million to Pakistan through a multi-tranche financing facility for priority energy efficiency projects that will secure the country''s growing energy needs and reduce its reliance on costly, polluting fos
Published 18 Sep, 2009 12:00am
China to keep loose monetary policy through next year

China to keep loose monetary policy through next year

China will keep its monetary policy loose until the end of 2010 to ensure growth due to uncertainties in the global recovery, Chinese media said Thursday, citing a senior central bank official. "The central bank will continue to maintain liquidity in the
Published 18 Sep, 2009 12:00am
Tension grows over South Korea rate policy

Tension grows over South Korea rate policy

South Korea's government and the central bank engaged in a rare public spat on Thursday over when to raise interest rates, with the finance ministry saying the country's recovery was too fragile to risk a tightening. The central bank wants to push up rate
Published 18 Sep, 2009 12:00am
De Beers diamond deal faces fresh EU scrutiny

De Beers diamond deal faces fresh EU scrutiny

An adviser to Europe's highest court on Thursday backed EU competition authorities which want De Beers to stop buying diamonds from Russia's Alrosa to boost its dominant role in the diamond trade. The legal opinion of European Advocate General Juliane Kok
Published 18 Sep, 2009 12:00am
AIB, Bank of Ireland soar after "bad bank" details

AIB, Bank of Ireland soar after "bad bank" details

Investors snapped up Allied Irish Banks and Bank of Ireland on Thursday amid expectations the lenders will avoid having to ask the state for more capital to purge their balance sheets of risky loans. Ireland's top two lenders have been investment pariahs
Published 18 Sep, 2009 12:00am
Millers decide to stop supply till court decision

Millers decide to stop supply till court decision

Sugar millers have ignored Supreme Court's (SC) directive regarding the sale of locally produced white refined sugar at the prices fixed by the Lahore High Court, and have unanimously decided to block supply of the commodity to the wholesale market till t
Published 18 Sep, 2009 12:00am
Central banks issue proposals to limit impact of bank failure

Central banks issue proposals to limit impact of bank failure

Central bankers on Thursday issued recommendations aimed at limiting the spillover impact when international banks are being wound up, in a bid to prevent a repeat of the financial crisis. "The recommendations seek to promote more orderly resolution of cr
Published 18 Sep, 2009 12:00am
Communist Party seeks nationalisation of sugar mills

Communist Party seeks nationalisation of sugar mills

The on-going sugar controversy, which seems beyond the control of the government, took a new turn on Thursday when a petition, demanding nationalisation of the country's sugar malls was filed in the Supreme Court. Engineer Jamil of Communist Party of Paki
Published 18 Sep, 2009 12:00am
Banks face EU criticism, possible action over fees

Banks face EU criticism, possible action over fees

Banks will be singled out by the European Commission next week as often having opaque fee structures and could face action to improve treatment of account holders, an official at the EU executive said on Thursday. A report to be presented by European Unio
Published 18 Sep, 2009 12:00am
Communist Party seeks nationalisation of sugar mills

Communist Party seeks nationalisation of sugar mills

The on-going sugar controversy, which seems beyond the control of the government, took a new turn on Thursday when a petition, demanding nationalisation of the country's sugar malls was filed in the Supreme Court. Engineer Jamil of Communist Party of Paki
Published 18 Sep, 2009 12:00am
Kuwait Islamic bank to raise capital by 50 percent

Kuwait Islamic bank to raise capital by 50 percent

Shareholders of Kuwait's Boubyan Bank, one of three Islamic banks in the emirate, on Thursday decided to raise the bank's capital by 50 percent, the Kuwaiti bourse said. The bank's capital will be raised from 116.6 million dinars (407.7 million dollars) t
Published 18 Sep, 2009 12:00am
Millers decide to stop supply till court decision

Millers decide to stop supply till court decision

Sugar millers have ignored Supreme Court''s (SC) directive regarding the sale of locally produced white refined sugar at the prices fixed by the Lahore High Court, and have unanimously decided to block supply of the commodity to the wholesale market till
Published 18 Sep, 2009 12:00am
Dubai World shakes up investment fund's leadership

Dubai World shakes up investment fund's leadership

Dubai's main holding company is moving three executives from its struggling property division to the investment fund that owns retailer Barneys New York and part of the performance troupe Cirque Du Soleil, the state-owned Dubai Word announced Thursday.
Published 18 Sep, 2009 12:00am
Millers decide to stop supply till court decision

Millers decide to stop supply till court decision

Sugar millers have ignored Supreme Court's (SC) directive regarding the sale of locally produced white refined sugar at the prices fixed by the Lahore High Court, and have unanimously decided to block supply of the commodity to the wholesale market till t
Published 18 Sep, 2009 12:00am
Dubai World shakes up investment fund's leadership

Dubai World shakes up investment fund's leadership

Dubai's main holding company is moving three executives from its struggling property division to the investment fund that owns retailer Barneys New York and part of the performance troupe Cirque Du Soleil, the state-owned Dubai Word announced Thursday.
Published 18 Sep, 2009 12:00am
US replaces Bush plan for Europe missile shield

US replaces Bush plan for Europe missile shield

President Barack Obama on Thursday dumped a Bush-era missile defence plan for Europe that Russia had bitterly opposed and offered what he said would be faster, more flexible defence systems to protect against Iran. In a move that could spur fears of resur
Published 18 Sep, 2009 12:00am
Indian inflation returns as food prices surge

Indian inflation returns as food prices surge

Surging food costs have driven India into inflation faster than expected, adding pressure on the central bank to speed an exit from easy monetary policy and prompting further government steps to curb price rises. India's wholesale price index (WPI) rose b
Published 18 Sep, 2009 12:00am
US replaces Bush plan for Europe missile shield

US replaces Bush plan for Europe missile shield

President Barack Obama on Thursday dumped a Bush-era missile defence plan for Europe that Russia had bitterly opposed and offered what he said would be faster, more flexible defence systems to protect against Iran. In a move that could spur fears of resur
Published 18 Sep, 2009 12:00am
FedEx quarterly net profit falls 53 percent

FedEx quarterly net profit falls 53 percent

Package delivery giant and US economic bellwether FedEx Corp reported better- than-expected quarterly earnings on Thursday, helped by a pickup in international freight volumes and cost controls. The company reported a profit of $181 million, or 58 cents a
Published 18 Sep, 2009 12:00am
Communist Party seeks nationalisation of sugar mills

Communist Party seeks nationalisation of sugar mills

The on-going sugar controversy, which seems beyond the control of the government, took a new turn on Thursday when a petition, demanding nationalisation of the country''s sugar malls was filed in the Supreme Court. Engineer Jamil of Communist Party of Pak
Published 18 Sep, 2009 12:00am
FedEx quarterly net profit falls 53 percent

FedEx quarterly net profit falls 53 percent

Package delivery giant and US economic bellwether FedEx Corp reported better- than-expected quarterly earnings on Thursday, helped by a pickup in international freight volumes and cost controls. The company reported a profit of $181 million, or 58 cents a
Published 18 Sep, 2009 12:00am
WTO warns tyre trade measures could spill over

WTO warns tyre trade measures could spill over

Trade measures of the type imposed by the United States on Chinese tyres run the risk of spilling over and slowing down economic recovery, a senior World Trade Organisation (WTO) official said on Thursday. The tyre trade dispute blew up between the United
Published 18 Sep, 2009 12:00am
World's largest offshore wind farm opens in Denmark

World's largest offshore wind farm opens in Denmark

The world's largest offshore wind farm has been opened in the North Sea off the west coast of Denmark, the Danish company running the project said on Thursday. The Horns Rev 2 wind farm's 91 turbines covers an area of some 35 square kilometres (21 square
Published 18 Sep, 2009 12:00am
WTO warns tyre trade measures could spill over

WTO warns tyre trade measures could spill over

Trade measures of the type imposed by the United States on Chinese tyres run the risk of spilling over and slowing down economic recovery, a senior World Trade Organisation (WTO) official said on Thursday. The tyre trade dispute blew up between the United
Published 18 Sep, 2009 12:00am
Eurozone trade surplus up more than expected

Eurozone trade surplus up more than expected

The eurozone's trade surplus grew more than expected in July as exports contracted much less than imports year-on-year and rose from the previous month while imports fell, Eurostat data showed on Thursday. The seasonally unadjusted trade surplus in the 16
Published 18 Sep, 2009 12:00am
WTO warns tyre trade measures could spill over

WTO warns tyre trade measures could spill over

Trade measures of the type imposed by the United States on Chinese tyres run the risk of spilling over and slowing down economic recovery, a senior World Trade Organisation (WTO) official said on Thursday. The tyre trade dispute blew up between the United
Published 18 Sep, 2009 12:00am
G20 stands firm on economic support pre-summit

G20 stands firm on economic support pre-summit

World leaders will commit to keep spending to prop up their economies at a G20 summit next week, Russia said on Thursday, while France appeared to tone down its rhetoric on the issue of bank bonus caps. The Kremlin's economic adviser said leaders from the
Published 18 Sep, 2009 12:00am
Public opinion a good predictor of terror attacks: study

Public opinion a good predictor of terror attacks: study

Public opinion polls are good predictors of terrorist attacks, according to a study published Thursday which argues that terrorists do not act independently of their countrymen's attitudes. US researchers studied surveys from 19 countries in the Middle Ea
Published 18 Sep, 2009 12:00am
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