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Print - 2009-09-26
SHC additional judges take oath

SHC additional judges take oath

Ten additional judges of High Court of Sindh (SHC) took oath here on Friday at Committee Room. Chief Justice Sarmad Jalal Osmany administered oath to new judges, Justice Shahid Anwer Bajwa, Justice Rukhsana Ahmed Malik, Justice Ghulam Sarwar Korai, Justic
Published 26 Sep, 2009 12:00am
Conference on street children

Conference on street children

An international conference on street children will be held in a local hotel from September 28. An announcement here on Friday said the two-day moot would be organised under the auspices of the Azad Foundation- a non-governmental organisation (NGO) workin
Published 26 Sep, 2009 12:00am
THE RUPEE: parity unchanged

THE RUPEE: parity unchanged

Mixed pattern was seen on the currency market on Friday as demand was up for dollars, dealers said.
Published 26 Sep, 2009 12:00am
Exempting textile machinery from customs duty hailed

Exempting textile machinery from customs duty hailed

In a joint press release President Karachi Chamber of Commerce and Industry (KCCI) Anjum Nisar and Chairman Textile Processing Mills Association (TPMA), Nisar Sheikhani have hailed the issuance of SRO 809(1)/2009 of September 19, 2009 exempting textile ma
Published 26 Sep, 2009 12:00am
THE RUPEE: parity unchanged

THE RUPEE: parity unchanged

Mixed pattern was seen on the currency market on Friday as demand was up for dollars, dealers said.
Published 26 Sep, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (September 25, 2009).

Published 26 Sep, 2009 12:00am
Pepco resorts to loadshedding to meet shortfall

Pepco resorts to loadshedding to meet shortfall

Pakistan Electric Power Company (Pepco) has resorted to four hours unscheduled loadshedding daily in the provincial capital to meet the electricity shortfall of 2365 MW between the power generation and demand. A statement of Ministry of Water and Power sa
Published 26 Sep, 2009 12:00am
Sixth phase of Foundation Assisted Programme soon

Sixth phase of Foundation Assisted Programme soon

Chairman Punjab Education Foundation Raja Muhammad Anwar has said that the sixth phase of Foundation Assisted Programme will start soon. He expressed these views in a meeting at the PEF secretariat. The meeting, attended by the newly appointed Secretary S
Published 26 Sep, 2009 12:00am
Promotion of new tax culture for enhancing revenue underlined

Promotion of new tax culture for enhancing revenue underlined

It is essential to promote new tax culture in order to enhance provincial revenue, and also ratio of various taxes should be made market-based so that maximum resources could be collected and used for the welfare of the public. Punjab Finance Minister, Ta
Published 26 Sep, 2009 12:00am
Bid to smuggle firearms into Pakistan foiled

Bid to smuggle firearms into Pakistan foiled

Security forces have foiled an attempt to smuggle a huge quantity of arms and ammunition from Afghanistan to Bajaur agency as they impounded four mules carrying weapons for militants. While 57 militants have voluntarily surrendered to security forces, and
Published 26 Sep, 2009 12:00am
US urged to take more steps to strengthen Pakistan's economic base

US urged to take more steps to strengthen Pakistan's economic base

Founder Chairman of Pakistan-US Business Council and Vice-President Saarc Chamber of Commerce and Industry Iftikhar Ali Malik on Friday hailed the passage of Kerry-Lugar Bill by the US Senate, and urged the Obama administration to take more steps to help
Published 26 Sep, 2009 12:00am
Suspect used Web to find bomb supplies

Suspect used Web to find bomb supplies

Najibullah Zazi went from Pakistan to suburban Denver beauty shops in a hunt for the supplies and skill to make hydrogen peroxide bombs for al Qaida, authorities charged in papers describing one of the most significant post-9/11 terror threats to the Unit
Published 26 Sep, 2009 12:00am
PML-Q 'like-minded' to debate US aid in Parliament

PML-Q 'like-minded' to debate US aid in Parliament

PML-Q like-minded group on Friday vowed to debate the $1.5 billion US aid for Pakistan in the Parliament, saying it was premature to comment over the proposed aid package. "We would ask the government to inform the parliament as to what price we would hav
Published 26 Sep, 2009 12:00am
Clarification

Clarification

The Ministry of Textile Industry clarifying a news item published in the Business Recorder on September 24, saying "Textile City Project failing to take off due to paucity of funds," has said the total cost of the Textile City Project is Rs 15 bill
Published 26 Sep, 2009 12:00am
Another swine flu case confirmed in Islamabad

Another swine flu case confirmed in Islamabad

Another case of Swine Flu was confirmed in the federal capital on Friday. Talking to Business Recorder, spokesman of Pakistan Institute of Medical Sciences (Pims), Dr Waseem Khawaja said that Imran Khan 28 is an engineer by profession and a residence of B
Published 26 Sep, 2009 12:00am
PAC to take up RPPs issue in next meeting

PAC to take up RPPs issue in next meeting

Chairman of the Public Accounts Committee (PAC) of the National Assembly Chaudhry Nisar Ali Khan has said that the issue of rental power plants (RPPs) will be discussed in the forthcoming session of the PAC. He expressed these views while talking to media
Published 26 Sep, 2009 12:00am
Foreign dignitaries call on Zardari

Foreign dignitaries call on Zardari

Amid his back to back engagements in the United States, President Asif Ali Zardari on Thursday held meetings here with the Asian Development Bank (ADB), President, the Nato Secretary General and the UAE Foreign Minister of after the FoDP summit and discus
Published 26 Sep, 2009 12:00am
Taliban stronger than ever in Pakistan: PTT commander

Taliban stronger than ever in Pakistan: PTT commander

Pakistan's Taliban movement is stronger than ever despite the killing of its top commander and will stage more suicide attacks if the army launches another offensive against it, a top militant told The Associated Press. Qari Hussain Mehsud, known for trai
Published 26 Sep, 2009 12:00am
Pakistan ranked sixth among iodine-deficient countries: report

Pakistan ranked sixth among iodine-deficient countries: report

Pakistan has been ranked 6th amongst the countries where iodine deficiency is a serious public health problem. According to a recent research published in Pakistan Journal of Medical Sciences, around 50 million people are suffering from iodine deficiency
Published 26 Sep, 2009 12:00am
Provision of healthy atmosphere top priority: Shahbaz

Provision of healthy atmosphere top priority: Shahbaz

Punjab Chief Minister, Muhammad Shahbaz Sharif has said that solid waste management and provision of a healthy atmosphere to the people is the priority of the government and effective measures are being taken for this purpose. He said that negotiations ar
Published 26 Sep, 2009 12:00am
ACCA organising workshop for journalists on September 29

ACCA organising workshop for journalists on September 29

ACCA Pakistan is organising a workshop for journalists in Lahore on 29 September 2009. The one-day event aimed at enhancing knowledge base of the news reporters from print and electronic media in the areas of accounting and finance, ethics and communicati
Published 26 Sep, 2009 12:00am
PHC orders release of Egyptian national's wife, children

PHC orders release of Egyptian national's wife, children

Peshawar High Court (PHC) has ordered the release of five members, including an infant, of an Egyptian family from Haripur prison. While head of the family Mohammad Ashraf, suspected brother of al Qaeda leader Aiman Al-Zawahiri, would be released after th
Published 26 Sep, 2009 12:00am
LHC restores AFP office-bearers

LHC restores AFP office-bearers

The Lahore High Court (LHC) here on Friday restored the office-bearers of Athletic Federation of Pakistan (AFP) to their offices after suspending the order of Pakistan Sports Board (PSB) and issued notices to respondents for October 1. President Safdar Hu
Published 26 Sep, 2009 12:00am
'Zardari does not own any sugar mill in country'

'Zardari does not own any sugar mill in country'

Farahnaz Ispahani, one of the spokespersons of PPP Co-Chairperson and President Asif Ali Zardari on Friday rejected the impression that the President was responsible for sugar crisis in 2006 saying that "the President does not own any sugar mill in the co
Published 26 Sep, 2009 12:00am
By-elections: political activities gaining momentum in Punjab

By-elections: political activities gaining momentum in Punjab

With the first phase of by-elections for three vacant National Assembly and two provincial assembly seats has gone off, political activities in Punjab are gaining momentum as different political parties including Jamat-e-Islami, JUP, PML-Q and PPP started
Published 26 Sep, 2009 12:00am
NH&MP recover three vehicles from car lifters

NH&MP recover three vehicles from car lifters

National Highways and Motorway Police has recovered three vehicles, one Shahazor pickup and two cars, from the car lifters and arrested one of them. Details received here on Thursday revealed that Motorway Police on the information of Rawalpindi Police re
Published 26 Sep, 2009 12:00am
Amid glowing tributes, Benazir Bhutto awarded posthumously

Amid glowing tributes, Benazir Bhutto awarded posthumously

Paying glowing tributes to former prime minister Benazir Bhutto's singular contribution to promotion of democracy and women's rights, an American foundation, The Louise T Blouin Foundation, posthumously conferred its top award on the acclaimed Pakistani l
Published 26 Sep, 2009 12:00am
FoDP meeting: two facts need consideration

FoDP meeting: two facts need consideration

The Friends of Democratic Pakistan (FoDP) forum held on the sidelines of the opening of the 64th session of the United Nations General Assembly, trilaterally chaired by United States President Barack Obama, British Prime Minister Gordon Brown and Presiden
Published 26 Sep, 2009 12:00am
A world without nuclear weapons

A world without nuclear weapons

The historic resolution adopted by the UN Security Council, seeking to rid the world of nuclear arms would be widely hailed. So would President Obama's statement dealing with the twin issues of disarmament and non-proliferation.
Published 26 Sep, 2009 12:00am
Adam Smith and the contortionist economists

Adam Smith and the contortionist economists

I have been an admirer of Adam Smith for the simple reason that he was a Professor of Moral philosophy and his writings seethe with his personality. Probably the influence of Adam Smith has been such as to have lasted nearly two and a half centuries and s
Published 26 Sep, 2009 12:00am
Pittsburgh weathers downtrodden economy

Pittsburgh weathers downtrodden economy

On the outskirts of Pittsburgh, a few remnants of the Pennsylvania city's bygone rust-belt era are still visible. When reporters pointed out the aging buildings from Pittsburgh's heavy industrial past to a cabbie shuttling them to the G20 summit taking pl
Published 26 Sep, 2009 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

New York gold futures fell to fresh two-week lows on Friday, briefly trading below $990 an ounce, as a resurgent dollar prompted short-term bullion traders to lock in profits ahead of the weekend. December gold down $4.30 at $994.60 an ounce at 10:08 am E
Published 26 Sep, 2009 12:00am
Arrangements finalised for medical entrance test

Arrangements finalised for medical entrance test

Divisional Commissioner Tahir Hussain has said that foolproof security and logistic arrangements have been finalised for smooth conduct of medical entrance test 2009 tomorrow. The entrance test will be conducted at 13 centres in 12 cities in the Punjab pr
Published 26 Sep, 2009 12:00am
NCJP organises one-day training workshop

NCJP organises one-day training workshop

The National Commission for Justice and Peace (NCJP) organised a one-day training workshop titled "Community Education for Human Rights" for community leaders at the Centre for Peace and Harmony in Faisalabad. The purpose of the workshop was to impart hum
Published 26 Sep, 2009 12:00am
Mufti Munib's verdict

Mufti Munib's verdict

In a meeting of local relics held on September 19 at Masjid Qasim Khan in Peshawar, it was announced that the moon had been sighted at various places of the province and Eid would be held on September 20. The meeting was also attended by Federal Minister
Published 26 Sep, 2009 12:00am
US MIDDAY: cocoa and sugar rebound

US MIDDAY: cocoa and sugar rebound

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. December arabica contract eased 0.25 cent to $1.2905 per lb at 11:11 am EDT (1511 GMT). Session range from $1.2740 to $1.2985. Follow-through weakness after Thursday's steep
Published 26 Sep, 2009 12:00am
US MIDDAY: wheat falls, corn steadies

US MIDDAY: wheat falls, corn steadies

Wheat futures fell at the Chicago Board of Trade early on Friday due to concerns about increased government regulation in the market due to a Commodity Futures Trading Commission subcommittee proposal to implement variable storage rates, traders said. CBO
Published 26 Sep, 2009 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

Soyabean futures on the Chicago Board of Trade rose early on Friday due to a weakening dollar and firm crude oil prices, traders said. Volume was light at the open, a trader said. At 9:39 am CDT (1439 GMT), CBOT November soyabeans were up 10-1/2 cents at
Published 26 Sep, 2009 12:00am
US MIDDAY: copper higher

US MIDDAY: copper higher

US copper futures bounced from one-month lows early on Friday, as a weaker dollar and rising consumer sentiment underpinned prices and countered weaker-than-expected durable goods and housing data. Copper for December delivery up 2.60 cents at $2.7355 a l
Published 26 Sep, 2009 12:00am
Gold recovers in Europe

Gold recovers in Europe

Gold recovered from two-week lows on Friday as the dollar slipped against the euro after data showed consumer sentiment in the United States was improving. Spot gold fell as low as $984.70 an ounce, its lowest since September 10. It was bid at $991.40 an
Published 26 Sep, 2009 12:00am
London sugar, coffee and cocoa rise

London sugar, coffee and cocoa rise

Sugar, cocoa and coffee futures rose on Friday supported by a weaker dollar, with sugar traders taking stock of consultancy Kingsman's upward revision in its 2009/10 global sugar deficit forecast. December cocoa ended 20 pounds higher at 2,035 pounds a to
Published 26 Sep, 2009 12:00am
Oil rises slightly

Oil rises slightly

Oil prices rose slightly on Friday after tension around Iran's nuclear program and improving consumer sentiment outweighed poor US economic indicators. US crude futures settled at $66.02, up 13 cents. In London, Brent crude settled at $65.11 a barrel, up
Published 26 Sep, 2009 12:00am
Copper off one-month lows

Copper off one-month lows

Copper rose away from one-month lows on Friday, boosted by US new homes and consumer data, with a surprise fall in global inventories also supporting. Copper for three-month delivery on the London Metal Exchange closed at $5,990 versus $5,950 a tonne on T
Published 26 Sep, 2009 12:00am
New York cotton futures plummet

New York cotton futures plummet

Cotton futures closed sharply lower on Friday on investor liquidation and profit-taking as players opted to take cash off the table after the market had rallied steadily the past few sessions, brokers said. The December cotton contract sank 2.87 cents to
Published 26 Sep, 2009 12:00am
Tokyo rubber futures dip

Tokyo rubber futures dip

Tokyo rubber futures mostly fell on Friday as the yen's strength against the dollar weighed on sentiment, although some losses were recouped after oil prices staged a modest recovery. The benchmark TOCOM rubber contract for March delivery, which debuted o
Published 26 Sep, 2009 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's top shares closed 0.1 percent higher on Friday, as strength in pharmaceutical and energy stocks offset falls in banks after investors drew confidence from the stimulus statements from the G20 conference. The FTSE 100 ended up 2.93 points at 5082
Published 26 Sep, 2009 12:00am
Friday's midday trade: Wall Street stays lower

Friday's midday trade: Wall Street stays lower

US stocks fell for a third straight session on Friday due to weaker-than-expected data on durable goods and home sales, while disappointing results from blackberry maker Research in Motion weighed on the Nasdaq. The Dow Jones industrial average was down 6
Published 26 Sep, 2009 12:00am
Indian shares down

Indian shares down

Indian shares slipped 0.53 percent on Friday in choppy trade as investors unwound positions ahead of a long weekend and after overnight falls on Wall Street, dealers said. The benchmark 30-share Sensex index dropped 88.43 points to 16,693. The stock marke
Published 26 Sep, 2009 12:00am
Philippine bonds extend fall

Philippine bonds extend fall

Philippine bonds extended losses and the cost of insuring the country's debt grew more costly on Friday as investors remained concerned about the government's massive financing needs and the sluggish economy. Weak equities markets also curbed investors' a
Published 26 Sep, 2009 12:00am
European CDS widen

European CDS widen

European credit default swap spreads edged wider on Friday, mirroring a weaker tone across equity markets. By 1518 GMT, the investment-grade Markit iTraxx Europe index was at 86.25 basis points, according to data from Markit, 3.25 basis points wider versu
Published 26 Sep, 2009 12:00am
European CDS widen

European CDS widen

European credit default swap spreads edged wider on Friday, mirroring a weaker tone across equity markets. By 1518 GMT, the investment-grade Markit iTraxx Europe index was at 86.25 basis points, according to data from Markit, 3.25 basis points wider versu
Published 26 Sep, 2009 12:00am
Philippine bonds extend fall

Philippine bonds extend fall

Philippine bonds extended losses and the cost of insuring the country's debt grew more costly on Friday as investors remained concerned about the government's massive financing needs and the sluggish economy. Weak equities markets also curbed investors' a
Published 26 Sep, 2009 12:00am
Indian rupee reverses losses

Indian rupee reverses losses

The Indian rupee pared most of an early fall to one-week lows on Friday, recovering on expectations of continued capital inflows after the Group of 20 leaders said stimulus measures would continue until recovery was secured. The partially convertible rupe
Published 26 Sep, 2009 12:00am
Malaysian shares flat

Malaysian shares flat

Malaysian shares ended flat on Friday amid mild bargain hunting and weak sentiment, dealers said. The Kuala Lumpur Composite Index lost 0.67 points to close at 1,217.439 with a volume of 688.78 million shares worth 945.18 million ringgit (272.47 million d
Published 26 Sep, 2009 12:00am
Sterling falls to multi-month lows

Sterling falls to multi-month lows

Sterling fell to multi-month lows against other major currencies on Friday on perceptions the UK currency would be allowed to weaken to help the fragile British economy. Market players took the opportunity to dump the pound. Selling accelerated after ster
Published 26 Sep, 2009 12:00am
Yen rallies in London

Yen rallies in London

The dollar fell more than 1 percent against the yen to a 7-1/2 month low on Friday as the G20 pledged to maintain economic stimulus and Japanese half-year end dividend repatriations undermined flows into the greenback. The dollar slipped against most majo
Published 26 Sep, 2009 12:00am
Tourists crowd to see giant Indonesian baby

Tourists crowd to see giant Indonesian baby

An giant Indonesian new-born has become a tourist attraction, with dozens of people crowding a hospital to see the 8.7 kilogramme (19.2 pound) baby boy, his mother said Friday. Muhammad Akbar Risuddin, Indonesia's heaviest-ever baby, who is 62 centimetres
Published 26 Sep, 2009 12:00am
15 Iraqi soldiers killed in accidental blasts: ministry

15 Iraqi soldiers killed in accidental blasts: ministry

Fifteen Iraqi soldiers were killed accidentally during what were meant to be controlled explosions in a town outside the northern city of Mosul on Friday, a defence ministry official said. Among the dead was one army officer, while one soldier was also se
Published 26 Sep, 2009 12:00am
UK general resigns, exposing gaps on Afghan policy

UK general resigns, exposing gaps on Afghan policy

The resignation of a senior British general has exposed a widening rift between the military leadership and Prime Minister Gordon Brown over how the war in Afghanistan is being fought. Major-General Andrew Mackay, a former brigade commander who oversaw cr
Published 26 Sep, 2009 12:00am
US and Russia nuclear disarmament talks to go into second week

US and Russia nuclear disarmament talks to go into second week

The latest round of Russia-US talks on renewing a key nuclear arms reduction treaty will enter into a second week, a Russian diplomat said, a day after the UN Security Council vowed to rid the planet of all nuclear arms. "They will go on until next week,
Published 26 Sep, 2009 12:00am
Suu Kyi gives backing to US engagement

Suu Kyi gives backing to US engagement

Myanmar's detained Nobel laureate Aung San Suu Kyi will support US plans to engage with the isolated nation but only if opposition groups are involved in any dialogue, her party said. Suu Kyi's backing followed US Secretary of State Hillary Clinton's anno
Published 26 Sep, 2009 12:00am
Mayor bans burqa in Italy spa resort

Mayor bans burqa in Italy spa resort

The Italian spa resort town of Montegrotto Terme is banning the burqa, saying the head-to-toe Islamic outfit makes it impossible to identify the women who wear it. Its far-right mayor Luca Claudio denied the measure was xenophobic, the domestic Ansa news
Published 26 Sep, 2009 12:00am
Partial vote recount starts in Afghanistan

Partial vote recount starts in Afghanistan

Afghan officials have started a partial vote recount from last month's presidential election in a long-awaited procedure due to bring to an end weeks of uncertainty over the ballot, a UN-backed watchdog said on Friday. Preliminary results from the August
Published 26 Sep, 2009 12:00am
Iran strike would be dangerous precedent: Gaddafi

Iran strike would be dangerous precedent: Gaddafi

Libyan leader Muammar Gaddafi said on Thursday he opposed any military action against Iran even if it pursues building a nuclear weapon. "If we are talking about military action, then the question will be who will take this military action? Who will do it
Published 26 Sep, 2009 12:00am
German video threat suspect held

German video threat suspect held

German police said on Friday they had arrested a 25-year-old Turkish man they suspected of posting an al Qaeda Internet video threatening Germany with an attack after Sunday's federal election. Police in the southern city of Stuttgart said the man was not
Published 26 Sep, 2009 12:00am
Boeing, Northrop both optimistic on winning new tanker bid

Boeing, Northrop both optimistic on winning new tanker bid

Two rival bidders expressed optimism on Friday that they could win a multi-billion dollar US military contract to build a new tanker plane, a day after the Pentagon said the competition was reopened. A formal call for proposals from the Pentagon was recei
Published 26 Sep, 2009 12:00am
Taiwan will not allow Uighur leader Kadeer to visit: official

Taiwan will not allow Uighur leader Kadeer to visit: official

Taiwan has decided not to allow Rebiya Kadeer to visit, an official said Friday, two days after the exiled Uighur leader, branded a "separatist" by Beijing, expressed a wish to travel to the island. "We have decided not to allow Kadeer entry considering t
Published 26 Sep, 2009 12:00am
Thousands of Kurds march for peace in Turkey

Thousands of Kurds march for peace in Turkey

Thousands of Kurds rallied here Friday calling for an end to deadly fighting between the army and Kurdish rebels amid government efforts to end a 25-year insurgency. Some 10,000 people - relatives of Kurdistan Workers' Party (PKK) rebels killed in clashes
Published 26 Sep, 2009 12:00am
Scion of Turkey's Ottoman dynasty dies

Scion of Turkey's Ottoman dynasty dies

Ertugrul Osman Osmanoglu, the head of the former ruling family of the Ottoman Empire, has died at the age of 97 in Istanbul, Turkish media reported Friday.Osmanoglu, the grandson of the last Ottoman ruler, Sultan Abdulhamid II, died of kidney failure on W
Published 26 Sep, 2009 12:00am
Medvedev says he could run again in 2012

Medvedev says he could run again in 2012

Russian President Dmitry Medvedev said on Thursday he could run for a second term in 2012, but made clear a job swap with his powerful Prime Minister Vladimir Putin was also possible. The issue of who will take the Kremlin post in 2012 is a sensitive one
Published 26 Sep, 2009 12:00am
India's moon water probe could yield more finds

India's moon water probe could yield more finds

Indian space scientists whose satellite detected water on the Moon's surface said Friday their programme might yield further discoveries once all the data is analysed. "Chandrayaan I has found water on the moon, it is a grand success," the chairman of the
Published 26 Sep, 2009 12:00am
Nigeria to keep amnesty deadline, reject rebels

Nigeria to keep amnesty deadline, reject rebels

Nigeria intends to keep its October 4 amnesty deadline, the defence minister said, rejecting a request from rebel leaders in the oil-producing Niger Delta for more time for peace talks before handing over their arms. President Umaru Yar'Adua has offered a
Published 26 Sep, 2009 12:00am
HSBC chief executive relocates to Hong Kong

HSBC chief executive relocates to Hong Kong

HSBC is to move its chief executive to Hong Kong from London as the "centre of economic gravity" shifts from West to East, the banking giant said on Friday. HSBC, founded in Hong Kong and Shanghai in 1865, would remain headquartered in London and regulate
Published 26 Sep, 2009 12:00am
Olmert graft trial opens in Jerusalem

Olmert graft trial opens in Jerusalem

Former Israeli Prime Minister Ehud Olmert went on trial in Jerusalem on Friday on corruption charges, confidently predicting he would be acquitted of fraud, breach of trust and failure to report income. "I came here as an innocent person and I believe my
Published 26 Sep, 2009 12:00am
Man sues bank for '1,784 billion, trillion dollars'

Man sues bank for '1,784 billion, trillion dollars'

Dalton Chiscolm is unhappy about the customer service at his bank - really, really unhappy. In August he sued Bank of America, the largest US bank and its board, demanding that "1,784 billion, trillion dollars" be deposited into his account the next day.
Published 26 Sep, 2009 12:00am
Maldives cabinet all wet on climate change

Maldives cabinet all wet on climate change

Politicians rarely admit when they sink to new depths but for the Maldives government, it's a badge of honour when fighting global warming is concerned. President Mohamed Nasheed is to host an underwater cabinet meeting on October 24 to draw attention to
Published 26 Sep, 2009 12:00am
Mexicana to become part of oneworld on November 10

Mexicana to become part of oneworld on November 10

Mexico and Central America's leading airline Mexicana will become part of oneworld, the world's leading quality airline alliance, on Tuesday November 10, 2009, offering oneworld's full range of services and benefits from then, says a press release issued
Published 26 Sep, 2009 12:00am
Moldova gets government, eyes integration in Europe

Moldova gets government, eyes integration in Europe

Moldova's parliament approved a new Western-leaning government with a programme to join the European mainstream on Friday, the last-but-one step to ending months of political stalemate in Europe's poorest nation. Prime Minister Vlad Filat, presenting his
Published 26 Sep, 2009 12:00am
Threats grow against anti-Chavez TV station

Threats grow against anti-Chavez TV station

High-wire fences protect the outside from projectiles. Inside, the boss keeps a gas-mask, bullet-proof vest and pillow in his office in case of trouble. Venezuela's main pro-opposition broadcaster Globovision operates from its cramped offices with a siege
Published 26 Sep, 2009 12:00am
Swiss franc stays firm

Swiss franc stays firm

The Swiss franc remained on firm footing against the euro on Friday ahead of two speeches from Swiss central bank policy makers and as markets were starting to get nervous about renewed interventions. "The EUR/CHF continues to drift lower into possibly th
Published 26 Sep, 2009 12:00am
Australian dollar recovers from lows

Australian dollar recovers from lows

The Australian dollar clawed back losses on Friday after a bout of buying late in the day helped put it on track for weekly gains for the sixth straight week. Some dealers said the Aussie's late bounce was sparked by a comment from a G20 draft communique
Published 26 Sep, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was a tad weaker against the US dollar on Friday, with sentiment hurt by a falling stock market. Hong Kong's Hang Seng Index was down 0.56 percent, while the China Enterprises Index of top locally listed mainland Chinese companies dro
Published 26 Sep, 2009 12:00am
Dollar up

Dollar up

The dollar gained against the euro on Thursday after central banks said they will scale back some emergency programmes that have injected trillions of dollars into banks as financial markets stabilise. Sterling also neared a six-month low and racked up it
Published 26 Sep, 2009 12:00am
Asian currencies weighed down

Asian currencies weighed down

The Malaysian ringgit and Thai baht fell alongside most of their Asian peers on Friday as the dollar firmed broadly, with sentiment hurt by weaker regional stocks. The US dollar rallied broadly on short-covering after major central banks jointly announced
Published 26 Sep, 2009 12:00am
Dollar retreats after rally

Dollar retreats after rally

The dollar slipped on Friday after a draft statement showed leaders of the Group of 20 rich and developing nations pledged to sustain emergency measures until the economic recovery becomes solid, encouraging speculators to sell the low-yielding greenback.
Published 26 Sep, 2009 12:00am
Nikkei slides 2.6 percent

Nikkei slides 2.6 percent

Japan's Nikkei average slid 2.6 percent on Friday, as Nomura Holdings plunged on its plans to issue up to $5.6 billion in shares and other financial stocks were hit by concerns that they may also be thinking of big stock offerings. Shares in Nomura, Japan
Published 26 Sep, 2009 12:00am
Yuan ends lower

Yuan ends lower

The yuan closed slightly lower against the dollar on Friday as the Chinese central bank showed its determination to maintain the yuan's stability, minimising the impact of the G20 summit in Pittsburgh this week, where the United States is seeking a plan t
Published 26 Sep, 2009 12:00am
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