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Print - 2009-10-02
'Gilgit-Baltistan Package a valuable gift from government'

'Gilgit-Baltistan Package a valuable gift from government'

Leader of the House in the Senate, Senator Syed Nayyar Hussain Bokhari here, on Thursday, termed the Gilgit-Baltistan Package a valuable gift from Pakistan Peoples Party's government to the people of Gilgit Baltistan. Leader of the House Senator Bokhari s
Published 02 Oct, 2009 12:00am
MCCI's office-bearers take charge

MCCI's office-bearers take charge

Newly elected President Asrar Ahmed Awan and Senior Vice President Khawaja Muhammad Usman Multan Chamber of Commerce and Industry (MCCI) took charge of their offices in an impressive but simple ceremony held here, on Wednesday night. They vowed to educate
Published 02 Oct, 2009 12:00am
'Importers suffer under government policies'

'Importers suffer under government policies'

Mian Iqbal Hassan, Convenor of the Sub-committee of MCCI on Environment and President of Board of Management of Industrial estate Multan, said that Pakistan had introduced import-oriented policies and crushed the manufacturers of exportable items, causing
Published 02 Oct, 2009 12:00am
Increasing assistance to Pakistan

Increasing assistance to Pakistan

The United States Congress has approved legislation by Senators John Kerry (D-MA) and Richard Lugar (R-IN) to triple non-military assistance to Pakistan during the next five years. Congressional approval is said to have come at an important moment for the
Published 02 Oct, 2009 12:00am
NRO, other ordinances: a wake-up call

NRO, other ordinances: a wake-up call

The detailed judgement of the Supreme Court on the November 3, 2007 emergency has important implications that need to be underlined. The most important among these is the injunction debarring the Parliament from condoning, let aside validating, affirming
Published 02 Oct, 2009 12:00am
Overcoming economic predicaments

Overcoming economic predicaments

In moments of crises, difficulties and challenges, living nations correct their mistakes and bounce back. On the contrary, despair, hopelessness and further decadence become fate accompli if their will to struggle dies. The prevalent economic predicaments
Published 02 Oct, 2009 12:00am
Water worries threaten US push for natural gas

Water worries threaten US push for natural gas

Louis Meeks, a burly 59-year-old alfalfa farmer, fills a metal trough with water from his well and watches an oily sheen form on the surface which gives off a faint odor of paint. He points to small bubbles that appear in the water, and a thin ring of foa
Published 02 Oct, 2009 12:00am
Gordon Brown - 'Dead man walking'?

Gordon Brown - 'Dead man walking'?

Embattled British Prime Minister Gordon Brown launched "Operation Fightback" Tuesday with a little bit of help from his wife Sarah, who urged the nation to love him as much as she does. Sarah, 45, seen increasingly as her husband's "secret weapon", hailed
Published 02 Oct, 2009 12:00am
Competition Commission

Competition Commission

Razzaq Thaplawala's article under the caption "Indian and Pakistani competition commissions' laws in retrospect" in your 29 September issue is pretty thought provoking. I propose that learning from the Indian experience - not just copying from them, in re
Published 02 Oct, 2009 12:00am
State-run FM radio goes on air in Mirpur

State-run FM radio goes on air in Mirpur

The first state-run FM radio station has started functioning in Mirpur to provide day-to-day information and entertainment to the listeners of the liberated territory. President Azad Jammu and Kashmir Raja Zulqarnain Khan Wednesday inaugurated the FM-93 i
Published 02 Oct, 2009 12:00am
Irsa releases 183,871 cusecs water from various reservoirs

Irsa releases 183,871 cusecs water from various reservoirs

Indus River System Authority (IRSA) on Thursday released 183,871 cusecs water from various rim stations. According to IRSA, an overall water inflow from various reservoirs recorded was 126,057 cusecs. The water level recorded at Tarbela Dam was at 1502.45
Published 02 Oct, 2009 12:00am
Sino-Pak relations based on strong bonds of friendship: minister

Sino-Pak relations based on strong bonds of friendship: minister

Minister for Foreign Affairs Nawabzada Malik Amad Khan on Thursday said Pak-Sino relations are based on strong bonds of friendship and through exchange of delegations could further cemented these bilateral ties. He was addressing a seminar organised by In
Published 02 Oct, 2009 12:00am
US MIDDAY: gold declines

US MIDDAY: gold declines

US gold futures fell but held above $1,000 an ounce on Thursday, as a resurgent dollar dampened bullion's appeal as a hedge against inflation. December gold futures down $3.80 at $1,005.50 an ounce at 10:59 am EDT (1459 GMT) on the COMEX division of the N
Published 02 Oct, 2009 12:00am
US MIDDAY: wheat, corn and soy fall

US MIDDAY: wheat, corn and soy fall

US wheat, corn and soyabean futures fell early on Thursday, setting back from a rally earlier in the week as traders took profits amid large global supplies. At 9:32 am CDT (1432 GMT), the Chicago Board of Trade December wheat contract was down 7-1/4 cent
Published 02 Oct, 2009 12:00am
US MIDDAY: copper weakens

US MIDDAY: copper weakens

US copper futures fell under the weight of currency-related selling and waning risk appetite early on Thursday, after data showed a key manufacturing index for September came in lower than expected. Copper for December delivery slipped 4.70 cents, or 1.7
Published 02 Oct, 2009 12:00am
Gold dips toward $1,000 in European trade

Gold dips toward $1,000 in European trade

Gold eased towards $1,000 per ounce on Thursday, buckling as the dollar held broad gains, but moves were limited with investors playing a waiting game ahead of Friday's key US non-farm payrolls data on Friday. Spot gold stood at $1,001.60 per ounce at 151
Published 02 Oct, 2009 12:00am
US MIDDAY: sugar sinks, coffee up

US MIDDAY: sugar sinks, coffee up

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Thursday. December arabica coffee contract gained 0.40 cent to $1.2820 per lb at 11:09 am EDT (1509 GMT). Session range from $1.2590 to $1.2975. Arabica coffee futures reversed highe
Published 02 Oct, 2009 12:00am
Sugar and coffee fall in London

Sugar and coffee fall in London

Sugar and robusta coffee futures fell on Thursday, weighed by a stronger dollar and lower oil prices, with the sugar trade's attention focused on expiry of the ICE October contract the previous day. December white sugar ended $8.70 lower at $609.30 per to
Published 02 Oct, 2009 12:00am
Oil falls toward $70

Oil falls toward $70

Oil prices slipped on Thursday as weaker-than-expected US manufacturing data and rising jobless claims dampened hopes of a demand rebound in the world's top energy consumer. The US manufacturing sector expanded in September, but missed analyst expectation
Published 02 Oct, 2009 12:00am
Copper slides

Copper slides

Copper slid on Thursday as confidence crumbled after manufacturing data from the United States disappointed the market and reinforced expectations of lower prices until signs of stronger demand emerge. Benchmark copper on the London Metal Exchange ended a
Published 02 Oct, 2009 12:00am
New York cotton futures plummet

New York cotton futures plummet

Cotton futures finished sharply lower Thursday on investor liquidation as a firm dollar and weak outside markets pressured fibre contracts, brokers said. The December cotton contract declined 1.50 cents to finish at 61.34 cents per lb, trading from 60.99
Published 02 Oct, 2009 12:00am
FTSE ends down 1.7 percent

FTSE ends down 1.7 percent

Britain's leading shares closed 1.7 percent lower on Thursday, the lowest closing level in more than two weeks, pressured by losses in mining stocks and banks while BAE Systems fell on prosecution fears. The blue chip FTSE 100 closed 86.09 points lower at
Published 02 Oct, 2009 12:00am
Indian shares flat

Indian shares flat

Indian shares were flat on Thursday as investors unwound positions ahead of a long weekend and global markets weakened on worse-than-expected US jobs data, dealers said. The benchmark 30-share Sensex index edged up 7.71 points, or 0.05 percent, to 17,134.
Published 02 Oct, 2009 12:00am
Markit iTraxx main index above 90 basis points

Markit iTraxx main index above 90 basis points

European credit default swap indexes widened further on Thursday, with the iTraxx Europe index moving above 90 basis points for the first time since early September. The iTraxx Series 11 index had ended at about 90 basis points on September 9 2009, accord
Published 02 Oct, 2009 12:00am
Markit iTraxx main index above 90 basis points

Markit iTraxx main index above 90 basis points

European credit default swap indexes widened further on Thursday, with the iTraxx Europe index moving above 90 basis points for the first time since early September. The iTraxx Series 11 index had ended at about 90 basis points on September 9 2009, accord
Published 02 Oct, 2009 12:00am
Malaysian shares climb

Malaysian shares climb

Malaysian shares closed up 0.52 percent on Thursday as heavyweights and selected lower liners provided positive sentiment, dealers said. The Kuala Lumpur Composite Index gained 6.27 points to 1,208.35 with a volume of 523.58 million shares worth 823.30 mi
Published 02 Oct, 2009 12:00am
Euro Libor dips, market digests ECB liquidity

Euro Libor dips, market digests ECB liquidity

Euro interbank lending rates mostly fell and market-based short-term interest rates were broadly steady on Thursday as dealers continued to digest the this week's European Central Bank tender of one-year funds. A Bank of England survey on Thursday, meanwh
Published 02 Oct, 2009 12:00am
Thursday's midday trade: factory, jobs data sends Wall Street lower

Thursday's midday trade: factory, jobs data sends Wall Street lower

US stocks dropped on Thursday after the latest jobs and manufacturing data extended a string of lacklustre economic figures and raised concerns about the strength of the economic recovery. The September manufacturing data, added to worse-than-expected job
Published 02 Oct, 2009 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee rose to its highest in nearly two months on Thursday as exporters dumped dollars on a view that improving growth and robust foreign inflows would see the local unit strengthen in coming months. The partially convertible rupee ended at 47.
Published 02 Oct, 2009 12:00am
Sterling edges up

Sterling edges up

Sterling gained against a broadly weaker euro on Thursday as European officials expressed discomfort over the single currency's recent rise. Some traders said the pound took support from a sale of 20-year gilts that drew sold investor demand. Sterling too
Published 02 Oct, 2009 12:00am
New typhoon looms as South East Asia death toll nears 400

New typhoon looms as South East Asia death toll nears 400

Millions of flood-hit survivors of devastating Typhoon Ketsana waited desperately for aid and braced for a new super storm on Thursday as the disaster's death toll climbed to 383. One of the most destructive storms in recent years, Ketsana wreaked havoc i
Published 02 Oct, 2009 12:00am
Euro falls

Euro falls

The euro fell on Thursday, dragged down versus the dollar after a top European Union official said eurozone finance ministers would discuss the currency's appreciation before a Group of Seven meeting on Saturday. The dollar gained broadly as waning risk a
Published 02 Oct, 2009 12:00am
China to sign pact with Taiwan after Kadeer ban

China to sign pact with Taiwan after Kadeer ban

China plans to sign a key financial pact with Taiwan later this month as a reward for the island barring a visit by Uighur leader Rebiya Kadeer, a report here said Thursday. The two sides are likely to ink the agreement on financial co-operation by the en
Published 02 Oct, 2009 12:00am
Friction grows in Merkel's new Coalition

Friction grows in Merkel's new Coalition

Tensions mounted Thursday in German Chancellor Angela Merkel's new coalition as her hand-picked partners accused her of riding roughshod over them in the run-up to talks on forming a government. Leading members of the business-friendly Free Democrats (FDP
Published 02 Oct, 2009 12:00am
Maliki ditches old Shia allies for polls

Maliki ditches old Shia allies for polls

Iraqi Prime Minister Nuri al-Maliki announced on Thursday a new coalition that will run against former Shia Muslim allies in January's national elections, raising the prospect of intra-sectarian strife. In a speech in Baghdad's fortified Green Zone, Malik
Published 02 Oct, 2009 12:00am
Britain's new Supreme Court sworn in

Britain's new Supreme Court sworn in

British constitutional history was made Thursday as judges in a new Supreme Court were sworn in, replacing the House of Lords as Britain's highest appeal tribunal. Ending a centuries-old judicial quirk, 11 new Justices took their oaths of office in the ne
Published 02 Oct, 2009 12:00am
No plan now to boost German troops in Afghanistan

No plan now to boost German troops in Afghanistan

Germany's Defence Ministry denied a radio report on Thursday that it was considering raising the number of troops it can send to Afghanistan, but did not rule out a change in the size of the mandate later this year. Deutschlandfunk radio had reported earl
Published 02 Oct, 2009 12:00am
Nato air strike kills nine Afghan civilians

Nato air strike kills nine Afghan civilians

Nine civilians including six children were killed in a Nato air strike targeting a Taliban position in restive southern Afghanistan, the provincial governor's office said Thursday. The strike took place after a joint Afghan and Nato forces convoy came und
Published 02 Oct, 2009 12:00am
Turkish protestor throws shoe at IMF chief

Turkish protestor throws shoe at IMF chief

A protestor on Thursday threw a shoe at IMF chief Dominique Strauss-Kahn during a speech to university students in Turkey's biggest city Istanbul, but missed him. The protestor, a young man dressed in jeans, a T-shirt and a sleeveless jacket, shouted "IMF
Published 02 Oct, 2009 12:00am
Afghan presidential rival releases 'vote fraud' video

Afghan presidential rival releases 'vote fraud' video

The main challenger for the Afghan presidency released a video on Thursday that he said showed supporters of President Hamid Karzai fraudulently marking ballots in the August 20 presidential poll. Abdullah Abdullah, who scored 28 percent according to prel
Published 02 Oct, 2009 12:00am
Al Qaeda focuses on Yemen as launchpad: US

Al Qaeda focuses on Yemen as launchpad: US

Al Qaeda has suffered setbacks due to US pressure but its presence in Yemen threatens to turn that country into a dangerous base for training and plotting attacks, a top US counterterrorism official said Wednesday. The extremist network has been steadily
Published 02 Oct, 2009 12:00am
China marks 60 years with spectacle of power

China marks 60 years with spectacle of power

China celebrated its wealth and rising might with a show of goose-stepping troops, gaudy floats and nuclear-capable missiles in Beijing on Thursday, 60 years after Mao Zedong proclaimed its embrace of communism. Tiananmen Square in central Beijing became
Published 02 Oct, 2009 12:00am
Israel frees Palestinian prisoner ahead of video swap

Israel frees Palestinian prisoner ahead of video swap

Israel has released ahead of schedule one of 21 women prisoners due to be freed in return for a video of an Israeli soldier held in the Hamas-ruled Gaza Strip, officials said on Thursday. Bara Malki, 15, was released late on Wednesday after a judge ordere
Published 02 Oct, 2009 12:00am
Israeli diplomat quits Russia

Israeli diplomat quits Russia

The Russian foreign ministry said on Thursday an Israeli diplomat had left the country after being detained by police for "unlawful activities", Interfax news agency reported. "The first secretary of the Israeli embassy in Moscow, Shmuel Polishok, was det
Published 02 Oct, 2009 12:00am
Russia ready to enrich uranium for Iran research reactor

Russia ready to enrich uranium for Iran research reactor

Russia is prepared to enrich uranium supplied by Iran to feed a research reactor in Tehran, Russian news agencies reported Thursday. "Russia is positive about this idea. If the UN nuclear agency approaches us we are prepared to take the uranium and enrich
Published 02 Oct, 2009 12:00am
Asian currencies move both ways

Asian currencies move both ways

The Korean won fell and the Taiwan dollar retreated from a one-year high on Thursday as the central banks in these centres intervened to curb strength in their currencies against a weak US dollar. The dollar dropped in Asia after weak US jobs data and as
Published 02 Oct, 2009 12:00am
Swiss franc loses ground

Swiss franc loses ground

The Swiss franc slipped slightly against the euro and lost significant ground against the dollar on Thursday, with trading driven by a rise in risk aversion and speculation over possible Swiss National Bank intervention. Traders will look to Purchasing Ma
Published 02 Oct, 2009 12:00am
Australian dollar slips

Australian dollar slips

The Australian dollar hit 14-month highs on Thursday but failed to retain gains as local investors sold into its strength, and after a late jump in the US dollar on speculation officials may try to support the US currency. The Aussie dropped almost 1 cent
Published 02 Oct, 2009 12:00am
Dollar falls as recovery hopes dim

Dollar falls as recovery hopes dim

The dollar fell against major currencies on Wednesday as increased expectations that the US economy was recovering dampened safe-haven demand for the greenback. The Swiss franc, meanwhile, fell against the euro on speculation the Swiss National Bank (SNB)
Published 02 Oct, 2009 12:00am
Dollar on defensive in Tokyo

Dollar on defensive in Tokyo

The dollar was on the defensive on Thursday, having resumed its downtrend in the previous session as investors shifted funds out of the greenback and chased growth-linked currencies. The Australian dollar, seen as a proxy to global growth in the currency
Published 02 Oct, 2009 12:00am
JGBs end flat

JGBs end flat

Japanese government bonds were little changed on Thursday, with prices trapped between profit taking for the start of Japan's new fiscal half- year and a drop in Tokyo's Nikkei stock average to a two-month closing low. Domestic investors often take profit
Published 02 Oct, 2009 12:00am
JGBs end flat

JGBs end flat

Japanese government bonds were little changed on Thursday, with prices trapped between profit taking for the start of Japan's new fiscal half- year and a drop in Tokyo's Nikkei stock average to a two-month closing low. Domestic investors often take profit
Published 02 Oct, 2009 12:00am
Nikkei hits two-month closing low

Nikkei hits two-month closing low

Japan's Nikkei share average hit its lowest close in two months on Thursday, with shares of exporters hurt by a stronger yen, while uncertainty about the policies of the country's new government dampened investor confidence. Banking shares, including Mits
Published 02 Oct, 2009 12:00am
Taiwan stock end at 15-month high

Taiwan stock end at 15-month high

Taiwan stocks ended up 0.48 percent at a 15-month closing high on Thursday, helped by shares like Cathay Financial on a report that Taiwan and China were set to sign a financial supervision agreement in October. The main TAIEX share index finished up 36.1
Published 02 Oct, 2009 12:00am
Short-dated US Treasury prices up

Short-dated US Treasury prices up

Short-dated US Treasuries rose on Wednesday as unexpectedly weak data on jobs and regional business activity reminded investors that it may take a long time for the economy to return to robust health. Private sector employers cut more jobs than forecast a
Published 02 Oct, 2009 12:00am
Singapore shares tumble

Singapore shares tumble

Singapore shares closed 0.57 percent lower on Thursday with few fresh leads to spur investor interest, dealers said. The blue chip Straits Times Index fell 15.13 points to 2,657.44. Volume totalled 1.88 billion shares worth 1.15 billion Singapore dollars
Published 02 Oct, 2009 12:00am
Short-dated US Treasury prices up

Short-dated US Treasury prices up

Short-dated US Treasuries rose on Wednesday as unexpectedly weak data on jobs and regional business activity reminded investors that it may take a long time for the economy to return to robust health. Private sector employers cut more jobs than forecast a
Published 02 Oct, 2009 12:00am
Wall Street sags

Wall Street sags

US stocks fell on Wednesday after a surprising contraction in an index of Midwest business activity, but buying of technology bellwethers like Cisco Systems Inc at the end of a strong quarter limited losses. The top drags in Wednesday's session were some
Published 02 Oct, 2009 12:00am
Seoul shares down

Seoul shares down

Seoul shares turned sharply lower to end down 1.7 percent on Thursday as tech and auto exporters were hit by continued strength in the won, while shipbuilders retreated on order cancellation worries. The Korea Composite Stock Price Index (KOSPI) finished
Published 02 Oct, 2009 12:00am
Philippines shares rally

Philippines shares rally

Philippines share prices closed 1.0 percent higher on Thursday on selective buying of blue chips, dealers said. The composite index added 28.20 points to close at 2,829.02. The all-shares index rose 0.65 percent, or 11.64 points, to close at 1,798.73. A t
Published 02 Oct, 2009 12:00am
US, European funds eyed for Japan engagement

US, European funds eyed for Japan engagement

A British-led investor group is lining up US and European pension funds to help improve long-term corporate governance standards in Japan, after the failure of several short-term activist shareholder plays there, a director on the project said.
Published 02 Oct, 2009 12:00am
Thai share prices firmer

Thai share prices firmer

The Thai stock market gained 1.37 percent on Thursday due to a rally in the banking sector and the further inflow of foreign funds, an analyst said. The Stock Exchange of Thailand (SET) composite index rose 9.84 points to close at 726.91, and the blue chi
Published 02 Oct, 2009 12:00am
Germany to see patchy growth in 2010

Germany to see patchy growth in 2010

Germany can expect only modest and patchy growth in 2010, forcing firms to cut capacity and shed workers, the German commercial banks association (BdB) said on Thursday. The economy has shown signs of recovery after it pulled out of recession in the secon
Published 02 Oct, 2009 12:00am
US, European funds eyed for Japan engagement

US, European funds eyed for Japan engagement

A British-led investor group is lining up US and European pension funds to help improve long-term corporate governance standards in Japan, after the failure of several short-term activist shareholder plays there, a director on the project said.
Published 02 Oct, 2009 12:00am
South African trade back in deficit, credit growth slows

South African trade back in deficit, credit growth slows

Weak exports swung the South African trade account into a deficit in August while demand for credit was at its lowest rate since 1966, suggesting no swift spending recovery will lift the economy out of a slump. The South African Revenue Service on Wednesd
Published 02 Oct, 2009 12:00am
Toyota plans huge US recall for dangerous floormats

Toyota plans huge US recall for dangerous floormats

Toyota Motor Corp said it will recall some 3.8 million vehicles in the United States because of the risk that a loose floormat could force down the accelerator, a problem suspected of causing crashes that have killed five people. The recall includes the h
Published 02 Oct, 2009 12:00am
Sony to unveil new PS3 game title in theatres

Sony to unveil new PS3 game title in theatres

Video gaming will hit the big screen next month when Sony Corp unveils a new game title for its Playstation3 game console at movie theatres. On October 5 and 6, four theatres in San Francisco and Thousand Oaks, California, Rosemont, Illinois and Bellevue,
Published 02 Oct, 2009 12:00am
Cisco bets on video again with $3 billion Tandberg buy

Cisco bets on video again with $3 billion Tandberg buy

Cisco has agreed to buy Norwegian videoconferencing company Tandberg for $3 billion in cash, its latest big bet that video will drive demand for its core data transmission gear. The acquisition will fill the wide gap between Cisco's high-end TelePresence
Published 02 Oct, 2009 12:00am
Egyptian remittances drop

Egyptian remittances drop

The amount of money sent home by Egyptians living abroad in the three months ending in June dropped 23 percent to $1.832 billion year on year, the Central Bank of Egypt said on Thursday. Remittances from Egyptians living abroad in the previous three month
Published 02 Oct, 2009 12:00am
Japan coalition partner debt plan won't hurt banks

Japan coalition partner debt plan won't hurt banks

A tiny partner in Japan's ruling coalition said on Thursday that its proposal for a debt moratorium for small firms includes a scheme aimed at preventing losses by banks, a move that could ease investor concerns. People's New Party chief Shizuka Kamei, ap
Published 02 Oct, 2009 12:00am
Slovenia to end stimulus measures in 2011

Slovenia to end stimulus measures in 2011

Slovenia is likely to start dismantling measures introduced to ease the effects of the global crisis in 2011, providing its economic growth in that year is above 1 percent, Finance Minister France Krizanic said.
Published 02 Oct, 2009 12:00am
EU court adviser says mobile roaming caps valid

EU court adviser says mobile roaming caps valid

An adviser to Europe's top court recommended on Thursday upholding European Union rules that cap roaming prices for travellers making and receiving mobile phone calls abroad. The European Court of Justice is considering a challenge to the price caps lodge
Published 02 Oct, 2009 12:00am
Sanofi expands R&D pipeline with two biotech deals

Sanofi expands R&D pipeline with two biotech deals

Sanofi-Aventis bolstered its drug pipeline by buying eye disease specialist Fovea and expanding its cancer portfolio with an exclusive cancer drug development deal with US biotech Merrimack Pharmaceuticals. The two biotechnology agreements on Thursday are
Published 02 Oct, 2009 12:00am
Brazil September trade surplus lower

Brazil September trade surplus lower

Brazil posted a lower-than-expected trade surplus in September with imports growing by more than exports, as Latin America's largest economy regained its footing. Brazil posted a trade surplus of $1.33 billion in September, down from a surplus of $3.074 b
Published 02 Oct, 2009 12:00am
Saudi cleric wants scholars to vet university content

Saudi cleric wants scholars to vet university content

A senior Saudi cleric said religious scholars should vet the curriculum at the kingdom's only co-educational university, meant to be a beacon of science, to prevent alien ideologies such as "evolution". The monarchy, a major US ally, is ruled by Al Saud f
Published 02 Oct, 2009 12:00am
Romania government coalition shatters, IMF reforms at risk

Romania government coalition shatters, IMF reforms at risk

Romania's Social Democrats quit the coalition government on Thursday in protest at the sacking of a minister ahead of a November presidential election, jolting markets and raising the risk of failure to meet IMF aid terms. The centrist Democrat-Liberal (P
Published 02 Oct, 2009 12:00am
Annan to visit Kenyan leaders amid ICC wrangles

Annan to visit Kenyan leaders amid ICC wrangles

Former UN chief Kofi Annan will visit Kenya this weekend to meet political leaders who are under fire from donors for delays to badly-needed reforms after last year's post-election violence in east Africa's biggest economy. Annan chaired the weeks of nego
Published 02 Oct, 2009 12:00am
Lebanese say expelled from UAE for not spying on Hezbollah

Lebanese say expelled from UAE for not spying on Hezbollah

Hundreds of Lebanese Shias have been expelled from the United Arab Emirates in the past three months after refusing to spy on their compatriots and militant group Hezbollah, some of those deported said on Thursday. "Dozens among us were summoned by the se
Published 02 Oct, 2009 12:00am
Nato chief warns of climate change security risks

Nato chief warns of climate change security risks

Climate change has "potentially huge security implications" and Nato countries should use the alliance as a forum to address the challenges it creates, the new Nato chief said Thursday. Rising sea levels, droughts and falling food production could spark l
Published 02 Oct, 2009 12:00am
Death toll nears 150 as Samoa tsunami devastation revealed

Death toll nears 150 as Samoa tsunami devastation revealed

Rescuers reached scenes of stunning devastation on Wednesday after a killer tsunami obliterated Samoan island villages, killing at least 148 people and leaving scores more missing. As distraught relatives picked through the rubble of homes and tourist res
Published 02 Oct, 2009 12:00am
Li Na marks China's National Day with victory

Li Na marks China's National Day with victory

Asia's number one Li Na held on for a nail-biting victory at the Pan Pacific Open on Thursday to celebrate China's National Day. Li, the world's number 16, edged passed ninth-ranked Victoria Azarenka of Belarus 7-6 (9/7), 4-6, 7-6 (7/4) in two hours and 5
Published 02 Oct, 2009 12:00am
PCB refuses to pay for Shoaib's knee surgery

PCB refuses to pay for Shoaib's knee surgery

The Pakistan Cricket Board (PCB) has refused to pay for a knee operation for fast bowler Shoaib Akhtar in a bid to revive his flagging international career. Shoaib, 34, will have the operation in England next week but the PCB has said he is not entitled t
Published 02 Oct, 2009 12:00am
Wenger celebrates record, Chelsea face Liverpool

Wenger celebrates record, Chelsea face Liverpool

Arsene Wenger becomes the longest-serving Arsenal manager on Thursday, celebrating 13 years at the club he has transformed from one of the best in England to one of the best in the world. Although Arsenal have not won the Champions League during his reign
Published 02 Oct, 2009 12:00am
Losing to Australia can help us, says Younus

Losing to Australia can help us, says Younus

Pakistan captain Younus Khan was unfazed by his side's loss to Australia in their final Champions Trophy round-robin match Wednesday, which he felt was probably a good thing as they head into the knockout stage. Australia's two-wicket win off the last bal
Published 02 Oct, 2009 12:00am
Thousands likely dead in Indonesian quake

Thousands likely dead in Indonesian quake

Indonesia said Thursday it feared thousands had died in a major earthquake as exhausted rescue workers clawed through mountains of rubble with their bare hands in a race to find survivors. The first rescue flights laden with food, medicine and body bags a
Published 02 Oct, 2009 12:00am
Australia replace Clarke with David Hussey

Australia replace Clarke with David Hussey

David Hussey has replaced Michael Clarke in the Australia Champions Trophy squad, an International Cricket Council statement said Thursday. Star batsman and vice-captain Clarke arrived in South Africa after a lengthy tour of England with a lower-back prob
Published 02 Oct, 2009 12:00am
Thousands likely dead in Indonesian quake

Thousands likely dead in Indonesian quake

Indonesia said Thursday it feared thousands had died in a major earthquake as exhausted rescue workers clawed through mountains of rubble with their bare hands in a race to find survivors. The first rescue flights laden with food, medicine and body bags a
Published 02 Oct, 2009 12:00am
One off-day costs India dear: Dhoni

One off-day costs India dear: Dhoni

India skipper Mahendra Singh Dhoni has said a below-par performance against Pakistan in the opening match cost his team an early exit from the Champions Trophy here. "Of course, the first game we played we were off the boil. But apart from that game, the
Published 02 Oct, 2009 12:00am
FBR launches 'List of Active Taxpayers'

FBR launches 'List of Active Taxpayers'

The Federal Board of Revenue (FBR) on Thursday launched a new scheme, called 'List of Active Taxpayers' to facilitate the compliant taxpayers by providing them a number of incentives. Sources told Business Recorder that the scheme previously named
Published 02 Oct, 2009 12:00am
Milan stunned at home by Zurich as Real, Manchester United win

Milan stunned at home by Zurich as Real, Manchester United win

Seven-times European champions AC Milan suffered a stunning 1-0 home defeat by FC Zurich in the Champions League on Wednesday, piling the pressure on coach Leonardo. There were no such problems for the other big guns as Real Madrid, helped by two more goa
Published 02 Oct, 2009 12:00am
FBR launches 'List of Active Taxpayers'

FBR launches 'List of Active Taxpayers'

The Federal Board of Revenue (FBR) on Thursday launched a new scheme, called 'List of Active Taxpayers' to facilitate the compliant taxpayers by providing them a number of incentives. Sources told Business Recorder that the scheme previously named
Published 02 Oct, 2009 12:00am
Europe sets deadline to tackle bloated national debts

Europe sets deadline to tackle bloated national debts

Europe set a deadline on Thursday to end economic pump priming with a pledge to tackle member states' bloated deficits in 2011, the keystone of exit strategies. "We think that exit strategies, which must be prepared from today, can be applied during 2011,
Published 02 Oct, 2009 12:00am
FBR launches ''List of Active Taxpayers''

FBR launches ''List of Active Taxpayers''

The Federal Board of Revenue (FBR) on Thursday launched a new scheme, called ''List of Active Taxpayers'' to facilitate the compliant taxpayers by providing them a number of incentives. Sources told Business Recorder that the scheme previously name
Published 02 Oct, 2009 12:00am
Indian inflation up as food prices soar

Indian inflation up as food prices soar

Indian inflation accelerated sharply as the weakest monsoon in decades helped drive up food prices, official data showed Thursday. Prices rose by a faster-than-expected 0.83 percent year-on-year for the week ended September 12, according to the Wholesale
Published 02 Oct, 2009 12:00am
Manufacturing gathers strength in Asia but Japan a worry

Manufacturing gathers strength in Asia but Japan a worry

Manufacturing activity surged across Asia in September as demand picked up, although plans by Japanese manufacturers for record cuts in capital spending cast doubts on the strength of a recovery in the industrialised world. A surprise slowdown at US Midwe
Published 02 Oct, 2009 12:00am
Euro zone unemployment hits 10-year high of 9.6 percent

Euro zone unemployment hits 10-year high of 9.6 percent

Unemployment in the 16-country eurozone rose to a more than 10-year high of 9.6 percent in August and economists warned it will likely worsen further, hurting the prospects for a strong economic recovery. The European Union statistics office said on Thurs
Published 02 Oct, 2009 12:00am
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