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Nov 14, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-10-14
Iran launches case against Karoubi over rape claims

Iran launches case against Karoubi over rape claims

Iran's judiciary has launched a legal case against pro-reform cleric Mehdi Karoubi over his allegations that some opposition supporters were raped in jail, the official IRNA news agency reported on Tuesday. A special investigative committee had prepared a
Published 14 Oct, 2009 12:00am
Turkey boosts ties with Syria amid renewed Israel row

Turkey boosts ties with Syria amid renewed Israel row

Turkey boosted its ties with Syria on Tuesday at the first meeting of a newly formed co-operation council, only days after Ankara's relations with Damascus foe Israel took a downturn. The foreign, defence, interior, economy, oil, electricity, agriculture
Published 14 Oct, 2009 12:00am
Fatah accepts Egypt's unity proposal

Fatah accepts Egypt's unity proposal

Palestinian President Mahmoud Abbas' Fatah party accepted on Tuesday Egypt's plan for separate signings of a reconciliation deal with Hamas after the Islamist group balked at attending a unity ceremony. Hamas said it still had not decided whether to agree
Published 14 Oct, 2009 12:00am
Qaddhafi names son second-in-command

Qaddhafi names son second-in-command

Libyan leader Maummar Qaddhafi has presented his son Seif al-Islam as head of state with powers second only to those of the long-ruling colonel, an online newspaper reported on Tuesday. Islam, widely seen as heir apparent, was expected to become "co-ordin
Published 14 Oct, 2009 12:00am
Daughter of Ahmadinejad aide claims asylum

Daughter of Ahmadinejad aide claims asylum

Iranian film-maker Narges Kalhor, daughter of President Mahmoud Ahmadinejad's media advisor Mehdi Kalhor, said Tuesday she had claimed asylum in Germany where she was attending a film festival. "I was afraid there would be problems if I returned to my cou
Published 14 Oct, 2009 12:00am
Sarkozy's ambitious son rejects nepotism charges

Sarkozy's ambitious son rejects nepotism charges

The undergraduate son of French President Nicolas Sarkozy has defended himself from charges of nepotism over his bid to head a powerful public agency, but the uproar over his promotion showed no sign of abating on Tuesday. Jean Sarkozy, 23, provoked an ou
Published 14 Oct, 2009 12:00am
Eight killed in Iraq suicide attack

Eight killed in Iraq suicide attack

Eight people were killed, including the leader of a Sunni Arab militia allied with the United States, in a suicide attack in a town north-east of Baghdad on Tuesday, security and medical officials said. Ten others were wounded in the attack on a coffee sh
Published 14 Oct, 2009 12:00am
Romanian parliament topples government, IMF terms eyed

Romanian parliament topples government, IMF terms eyed

Romanian legislators toppled the centrist minority government in a no-confidence vote on Tuesday, raising the spectre of heightened political instability that threatens the country's IMF accord. The centrists will remain in power until parliament approves
Published 14 Oct, 2009 12:00am
Interpol seeks visa-free travel

Interpol seeks visa-free travel

Interpol is issuing special passports to its senior investigators to enable them to enter any of its 188 member countries without visas. Interpol Secretary-General Ronald K. Noble says Pakistan and Ukraine have agreed to honour the documents. He says he i
Published 14 Oct, 2009 12:00am
Clinton fails to win Russia's pledge on Iran sanctions

Clinton fails to win Russia's pledge on Iran sanctions

US Secretary of State Hillary Clinton failed to win specific pledges from Moscow on tougher sanctions against Iran during a visit to Russia on Tuesday but hailed progress in other areas such as arms control. A senior US official had said before the talks
Published 14 Oct, 2009 12:00am
India rejects Albanian demand for Mother Teresa remains

India rejects Albanian demand for Mother Teresa remains

India flatly rejected Tuesday a demand by the Albanian government for the return of the remains of Nobel laureate Mother Teresa, buried in the eastern city of Kolkata. "Mother Teresa was an Indian citizen and she is resting in her own country, her own lan
Published 14 Oct, 2009 12:00am
Taiwan's falling birth rates to claim 60 colleges

Taiwan's falling birth rates to claim 60 colleges

More than one in three Taiwanese colleges are likely to be forced to close by 2021 due to a shortage of students as the island's birth rates continue to fall, local media said Tuesday. Currently, around 300,000 school leavers are eligible to apply for col
Published 14 Oct, 2009 12:00am
Poll test for India's ruling Congress party

Poll test for India's ruling Congress party

Three Indian states went to the polls Tuesday in the first test for the ruling Congress party alliance since it won a thumping general election victory in May on promises of economic reform. Campaigning for state elections in Maharashtra, Haryana and Arun
Published 14 Oct, 2009 12:00am
1,000 children poisoned with lead in China

1,000 children poisoned with lead in China

Nearly 1,000 children in central China have tested positive for lead poisoning in the latest environmental scandal to erupt in the nation's smelting industry, state press said Tuesday. The news comes close on the heels of a spate of lead poisoning inciden
Published 14 Oct, 2009 12:00am
Younus Khan offers to resign as Pakistan captain

Younus Khan offers to resign as Pakistan captain

Pakistan cricket captain Younus Khan offered to resign on Tuesday in protest at a meeting called to investigate the team's defeats by Australia and New Zealand in the recent Champions Trophy. The 31-year-old said he was appalled and disappointed at being
Published 14 Oct, 2009 12:00am
PFF announces Under-16 football team

PFF announces Under-16 football team

Ahsan Ullah, Muhammad Sajid and Abdul Waheed who have the honour of wearing Pakistan colour in three school-level international events retained their places as Pakistan Football Federation (PFF) has opened the exit door for eight players on Tuesday and an
Published 14 Oct, 2009 12:00am
Oram retires from Tests

Oram retires from Tests

Injury-plagued New Zealand all-rounder Jacob Oram announced Tuesday he is retiring from Test cricket in a bid to prolong his career in the shorter forms of the game. The 31-year-old, forced out of the recent Champions Trophy one-day tournament with a hams
Published 14 Oct, 2009 12:00am
Flintoff planning Australian swansong

Flintoff planning Australian swansong

Andrew Flintoff wants to have a spell playing domestic cricket in Australia before the end of his career. The all-rounder, currently recovering from knee surgery, has retired from Test cricket because he feels his body can no longer take the strain of fiv
Published 14 Oct, 2009 12:00am
Dutch lawmaker wins appeal against entry ban from Britain

Dutch lawmaker wins appeal against entry ban from Britain

A far-right Dutch lawmaker who was refused entry to Britain won an appeal against his ban Tuesday, a tribunal spokeswoman said. Geert Wilders, 46, leader of the Party for Freedom (PVV), was sent back to the Netherlands on a plane shortly after being detai
Published 14 Oct, 2009 12:00am
Crunch time for World Cup hopefuls

Crunch time for World Cup hopefuls

Real Madrid star Cristiano Ronaldo could endure an agonising night this Wednesday when he watches from afar as Portugal launch a final bid to qualify for the 2010 World Cup. Ronaldo aggravated a right ankle injury in Portugal's defeat of Hungary on Saturd
Published 14 Oct, 2009 12:00am
Roddick retires in first-set knee injury drama

Roddick retires in first-set knee injury drama

A bad season continued Tuesday for Andy Roddick as the American was forced to retire after injuring his knee in a second-round match at the Shanghai Masters. Swiss Stan Wawrinka advanced 3-4 after Roddick - next in the qualifying queue for a place in the
Published 14 Oct, 2009 12:00am
Philippines to borrow more for typhoon relief

Philippines to borrow more for typhoon relief

The Philippines said on Tuesday it may resort to more borrowing to fund 12 billion pesos ($258 million) in relief funds approved by Congress as the president created a panel to oversee reconstruction of typhoon-hit areas. Lawmakers from the lower house of
Published 14 Oct, 2009 12:00am
Asia Pacific's super rich population shrinks amid downturn

Asia Pacific's super rich population shrinks amid downturn

The number of super-wealthy people in Asia-Pacific shrank last year, a study showed Tuesday, despite the region's resilience in the face of the global economic slump. This year's Asia-Pacific Wealth Report showed there were 2.4 million high-net-worth indi
Published 14 Oct, 2009 12:00am
Security high for Turkey-Armenia 'football diplomacy'

Security high for Turkey-Armenia 'football diplomacy'

Turkey urged its football fans Tuesday to show respect when Armenian President Serzh Sarkisian attends a game marking a symbolic step in their countries' reconciliation effort. The brief visit on Wednesday will see Sarkisian join his counterpart Abdullah
Published 14 Oct, 2009 12:00am
China's billionaires rise to 130 despite global crisis

China's billionaires rise to 130 despite global crisis

Car battery tycoon Wang Chuanfu topped a new list of China's 1,000 richest people released Tuesday, which has 130 dollar billionaires in an emphatic declaration of the Asian giant's economic arrival. Most of the super-wealthy on the Hurun Rich List, unlik
Published 14 Oct, 2009 12:00am
Japan's former Prime Minister Koizumi gets a superhero role

Japan's former Prime Minister Koizumi gets a superhero role

Japan's former premier Junichiro Koizumi, known for crooning Elvis Presley songs while in office, is lending his voice to a superhero movie, reports said Tuesday. Lion-maned Koizumi, 67, has provided the voiceover for the extraterrestrial hero who fights
Published 14 Oct, 2009 12:00am
BHP's Spence mine workers start strike in Chile

BHP's Spence mine workers start strike in Chile

Union workers at BHP Billiton's Spence copper mine in Chile went on strike Tuesday after rejecting a wage offer, stoking fears of lessening world supply of the red metal. The stoppage at the mine halted the extraction of the mineral, but had no immediate
Published 14 Oct, 2009 12:00am
North Korea may fire more missiles ahead of talks

North Korea may fire more missiles ahead of talks

North Korea was preparing to fire a fresh barrage of short-range missiles, a report said on Tuesday, in a move seen as an attempt to boost its bargaining position ahead of expected talks on ending its nuclear weapons programme. Analysts say the missiles s
Published 14 Oct, 2009 12:00am
Tycoon Anil Ambani rebuffed in bid to settle family feud

Tycoon Anil Ambani rebuffed in bid to settle family feud

Indian tycoon Anil Ambani has extended an olive branch to his brother to settle an ugly feud stemming from a family pact splitting their corporate empire but his overture has been rebuffed. After firing nearly daily volleys at his older brother Mukesh Amb
Published 14 Oct, 2009 12:00am
UN rights chief urges review of Iran vote death sentences

UN rights chief urges review of Iran vote death sentences

The UN human rights chief on Tuesday called on Iran's high courts to review a death sentence imposed on three people who were arrested after Iran's disputed presidential election. "There are also major concerns about the way the recent trials of oppositio
Published 14 Oct, 2009 12:00am
Israel holds 335 Palestinians without trial: rights groups

Israel holds 335 Palestinians without trial: rights groups

Israel is currently holding 335 Palestinians without trial in breach of international law, two Israeli human rights groups said on Wednesday. Of the 335 Palestinians held in so-called administrative detention, one is a minor and three are women. One of th
Published 14 Oct, 2009 12:00am
Hong Kong dollar stays on strong side

Hong Kong dollar stays on strong side

The Hong Kong dollar hovered at the top of its trading band against the US dollar on Tuesday, which might prompt the Hong Kong Monetary Authority (HKMA) to step in again to prevent the local currency from strengthening beyond its fixed range. Dealers expe
Published 14 Oct, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 69.09/69.07 (previous 69.08/69.08). Call Money Rates: 0.50-7.00 percent (previous 0.50-5.00 percent).
Published 14 Oct, 2009 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc was little moved against the euro and the dollar on Tuesday, trading in a tight range as markets looked ahead to the start of corporate earnings season in the United States. On the home front, producer prices and import prices for Septembe
Published 14 Oct, 2009 12:00am
Australian dollar strong near 14-month highs

Australian dollar strong near 14-month highs

The Australian dollar struck fresh 14-month highs on Tuesday as investors piled on to high-yielding currencies on hopes that robust US company earnings would boost hopes of a sustained global economic rebound. The Aussie was also gained momentum from bett
Published 14 Oct, 2009 12:00am
Asian currencies: intervention suspected as dollar suffers

Asian currencies: intervention suspected as dollar suffers

Renewed weakness in the US dollar on Tuesday pushed the Thai baht and Philippine peso towards last week's multi-month highs, triggering fresh official intervention to curb their strength. The Singapore dollar rose but its gains were also limited by suspec
Published 14 Oct, 2009 12:00am
Dollar dips against euro

Dollar dips against euro

The US dollar was mostly lower on Monday as investors shunned it for higher-yielding currencies and assets in the belief US corporate earnings, especially at some top banks, will exceed expectations. Some investors sell the dollar against other currencies
Published 14 Oct, 2009 12:00am
Yuan eases after steady mid-point

Yuan eases after steady mid-point

The yuan ended softer against the dollar in the spot market on Tuesday, retreating from the previous day's four-month high as China's central bank signalled a continued stable yuan policy, but rose in the forwards on expectations of further global weaknes
Published 14 Oct, 2009 12:00am
Dollar back on defensive in Tokyo

Dollar back on defensive in Tokyo

The dollar drifted against a basket of currencies on Tuesday but stayed soft against the Australian dollar, which earlier hit a 14-month high boosted by optimism that robust US corporate earnings would sustain investors' risk appetite. The New Zealand dol
Published 14 Oct, 2009 12:00am
Nikkei crawls higher

Nikkei crawls higher

Japan's Nikkei average edged up 0.6 percent on Tuesday, buoyed by exporters such as Honda Motor Corp after the S&P 500 posted a sixth straight day of rises, but stalled ahead of key US and Japanese earnings. JFE Holdings and other steel shares climbed aft
Published 14 Oct, 2009 12:00am
Singapore shares tumble

Singapore shares tumble

Singapore shares closed 0.45 percent lower on Tuesday as investors took a breather while waiting for more third quarter corporate earnings results, dealers said. The blue chip Straits Times Index snapped five straight days of rises, dropping 12.07 points
Published 14 Oct, 2009 12:00am
Chinese shares make gains

Chinese shares make gains

Chinese shares closed up 1.44 percent on Tuesday led by coal producers and power companies amid expectations of rising demand for electricity in the months ahead, dealers said. The Shanghai Composite Index, which covers both A and B shares, was up 41.71 p
Published 14 Oct, 2009 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares fell on Tuesday pressured by banks and shipbuilders including KB Financial Group and Hyundai Heavy Industries, but gains in key technology issues such as Samsung Elec helped. Analysts said worries earnings may peak in the third quarter and fl
Published 14 Oct, 2009 12:00am
Malaysian shares close flat

Malaysian shares close flat

Malaysian shares were flat on Tuesday due to selected buying interest from local funds, dealers said. The Kuala Lumpur Composite Index rose 0.18 points to 1,233.51. Advancers led losers 440 to 245. Dealers described the trading session as "choppy" with pr
Published 14 Oct, 2009 12:00am
Philippines shares little changed

Philippines shares little changed

Philippines share prices closed flat on Tuesday in the absence of positive news, dealers said. The composite index edged 0.88 points lower to 2,930.09, while the all shares index inched up 0.88 points to 1,847.15. Turnover reached 786.87 million shares wo
Published 14 Oct, 2009 12:00am
Taiwan stocks end flat

Taiwan stocks end flat

Taiwan's main stock index pared early losses to end steady on Tuesday as financial shares fell after recent rallies and LCD makers, such as Innolux, gained on optimism about their earnings outlook. The main TAIEX share index opened down 1.5 percent after
Published 14 Oct, 2009 12:00am
S&P 500 ends at one-year high

S&P 500 ends at one-year high

The S&P 500 managed a sixth consecutive day of gains on Monday to end at its closing high for the year as energy shares rose alongside the price of oil. But the market lost some strength in the afternoon and the Dow and Nasdaq ended little changed as inve
Published 14 Oct, 2009 12:00am
Hong Kong shares rally

Hong Kong shares rally

Hong Kong share prices closed 0.79 percent higher on Tuesday following gains on Wall Street and stronger oil prices. The benchmark Hang Seng Index added 168.01 points to 21,467.36. Turnover was 60.44 billion Hong Kong dollars (7.80 billion dollars). Stren
Published 14 Oct, 2009 12:00am
Jakarta shares up

Jakarta shares up

Indonesian shares closed 0.62 percent higher on Tuesday on foreign bargain buying and a stronger rupiah after falls over the previous four days, dealers said. The Jakarta Composite Index gained 15.31 points to 2,471.99. "Foreign buying in plantation and t
Published 14 Oct, 2009 12:00am
Dubai says private sector should eye $10 billion bond

Dubai says private sector should eye $10 billion bond

Dubai has weathered the worst of the financial crisis and its upcoming $10 billion bond should interest private investors, Dubai International Financial Centre governor and UAE central bank deputy chairman said on Tuesday. Omar bin Sulaiman, speaking at a
Published 14 Oct, 2009 12:00am
EU will urge Turkey to be fair in media case

EU will urge Turkey to be fair in media case

The European Union will tell Turkey this week to treat media group Dogan Yayin fairly in a tax dispute as it may affect freedom of the press in the EU candidate country, a draft report showed on Tuesday. The European Commission's annual report on Turkey's
Published 14 Oct, 2009 12:00am
Dubai says private sector should eye $10 billion bond

Dubai says private sector should eye $10 billion bond

Dubai has weathered the worst of the financial crisis and its upcoming $10 billion bond should interest private investors, Dubai International Financial Centre governor and UAE central bank deputy chairman said on Tuesday. Omar bin Sulaiman, speaking at a
Published 14 Oct, 2009 12:00am
Swedbank gets cash call buffer amid Baltic disquiet

Swedbank gets cash call buffer amid Baltic disquiet

Swedbank shareholders strongly backed a deeply discounted rights issue, raising 15.1 billion Swedish crowns the lender is tipped to use as a cushion against mounting loan losses in the crisis-hit Baltics.
Published 14 Oct, 2009 12:00am
J&J quarterly profit beats, forecasts but sales fall short

J&J quarterly profit beats, forecasts but sales fall short

Johnson & Johnson posted weaker-than-expected quarterly revenue on Tuesday as sales of prescription drugs and cardiac stents disappointed, sending its shares down more than 2 percent. While third-quarter profit topped analyst forecasts, that was largely b
Published 14 Oct, 2009 12:00am
J&J quarterly profit beats, forecasts but sales fall short

J&J quarterly profit beats, forecasts but sales fall short

Johnson & Johnson posted weaker-than-expected quarterly revenue on Tuesday as sales of prescription drugs and cardiac stents disappointed, sending its shares down more than 2 percent. While third-quarter profit topped analyst forecasts, that was largely b
Published 14 Oct, 2009 12:00am
Saudi to relaunch power, water plant bid in November

Saudi to relaunch power, water plant bid in November

Saudi Arabia plans to relaunch bids for a large-scale power and water desalination plant in November after increasing its target capacity, the kingdom's water and electricity minister said on Sunday. Japan's Sumitomo Corp said in May it has put on hold it
Published 14 Oct, 2009 12:00am
Flextronics to hire over 6,000 Chinese workers this month

Flextronics to hire over 6,000 Chinese workers this month

Electronics manufacturing giant Flextronics International said Tuesday it will hire more than 6,000 migrant workers in mainland China this month because of a rise in demand ahead of Christmas. The company will also take on an additional 1,000 workers in t
Published 14 Oct, 2009 12:00am
Punjab chief minister regularises all contractual employees

Punjab chief minister regularises all contractual employees

Chief Minister Punjab Mian Muhammad Shahbaz Sharif on Tuesday announced regularisation of all contractual employees working in different departments of the province. Addressing a press conference flanked by Senior Advisor Sardar Zulfiqar Ali Khan Khosa an
Published 14 Oct, 2009 12:00am
Dogan faces setback in $3.3 billion Turkish tax row

Dogan faces setback in $3.3 billion Turkish tax row

Turkey's tax authority rejected collateral provided by Dogan Yayin to fight a record $3.3 billion tax fine, raising the stakes in a bitter stand-off between Turkey's largest media company and authorities. The finance ministry's tax authority had, as a con
Published 14 Oct, 2009 12:00am
First F-16 C/D aircraft rolls out at LM Aero facility

First F-16 C/D aircraft rolls out at LM Aero facility

The First Block-52 F-16D aircraft of Pakistan Air Force (PAF) rolled out on Tuesday at a ceremony held at Lockheed Martin Aeronautics (LM Aero) facility at Dallas - Fort Worth, Texas USA. An ISPR (PAF) press release issued here on Tuesday evening said tha
Published 14 Oct, 2009 12:00am
Italian debt rises to record high

Italian debt rises to record high

The Italian public debt rose to a record high point of 1,757 billion euros in August, the central bank revealed on Tuesday against a background of recession arising from the global crisis. Italy has the highest debt relative to gross domestic product of a
Published 14 Oct, 2009 12:00am
First F-16 C/D aircraft rolls out at LM Aero facility

First F-16 C/D aircraft rolls out at LM Aero facility

The First Block-52 F-16D aircraft of Pakistan Air Force (PAF) rolled out on Tuesday at a ceremony held at Lockheed Martin Aeronautics (LM Aero) facility at Dallas - Fort Worth, Texas USA. An ISPR (PAF) press release issued here on Tuesday evening said tha
Published 14 Oct, 2009 12:00am
Possible to sign Opel deal this week: GM CEO

Possible to sign Opel deal this week: GM CEO

General Motors Co may finalise a deal this week to sell a majority stake in its European carmaking arm Opel to a Canadian-Russian consortium, its CEO said on Tuesday, as the firm sheds unwanted brands. Talks with governments and labour representatives on
Published 14 Oct, 2009 12:00am
Italian debt rises to record high

Italian debt rises to record high

The Italian public debt rose to a record high point of 1,757 billion euros in August, the central bank revealed on Tuesday against a background of recession arising from the global crisis. Italy has the highest debt relative to gross domestic product of a
Published 14 Oct, 2009 12:00am
Punjab chief minister regularises all contractual employees

Punjab chief minister regularises all contractual employees

Chief Minister Punjab Mian Muhammad Shahbaz Sharif on Tuesday announced regularisation of all contractual employees working in different departments of the province. Addressing a press conference flanked by Senior Advisor Sardar Zulfiqar Ali Khan Khosa an
Published 14 Oct, 2009 12:00am
China to curb industrial overcapacity

China to curb industrial overcapacity

China's cabinet has laid out detailed plans to curb overcapacity in industries such as steel, aluminium, cement and wind power, warning that the country's economic recovery could otherwise be hampered. In a reiteration of existing policy targets, the Stat
Published 14 Oct, 2009 12:00am
BoJ mulls winding down emergency support

BoJ mulls winding down emergency support

Japan's central bank kicked off a two-day meeting Tuesday to discuss whether to end emergency measures aimed at keeping credit flowing to cash-strapped companies during the economic slump. The Bank of Japan has been fighting the fallout from the global ec
Published 14 Oct, 2009 12:00am
US realises 'mistakes': Prime Minister

US realises 'mistakes': Prime Minister

Prime Minister Syed Yusuf Raza Gilani on Tuesday said as the United States has realised the "mistakes" in Kerry-Lugar Bill, now the parliament would have the weight age to take appropriate decision in this regard. Talking to media-persons informally at a
Published 14 Oct, 2009 12:00am
Indonesia rejects bids in sukuk auction

Indonesia rejects bids in sukuk auction

Indonesia rejected all bids in its first monthly sukuk auction on Tuesday as investors sought higher yields, but analysts linked this to short-term sentiment rather than seeing it as a major setback for the Islamic market in the world's most populous Musl
Published 14 Oct, 2009 12:00am
US realises 'mistakes': Prime Minister

US realises 'mistakes': Prime Minister

Prime Minister Syed Yusuf Raza Gilani on Tuesday said as the United States has realised the "mistakes" in Kerry-Lugar Bill, now the parliament would have the weight age to take appropriate decision in this regard. Talking to media-persons informally at a
Published 14 Oct, 2009 12:00am
RBS Coutts sees staff exodus in Singapore

RBS Coutts sees staff exodus in Singapore

More than a quarter of the staff at the Singapore office of private bank RBS Coutts have quit in a mass resignation and some are joining Swiss rival BSI. The defections could be a sign that job-hopping is beginning to pick up in Asia's competitive wealth-
Published 14 Oct, 2009 12:00am
Germany re-opens investment guarantees

Germany re-opens investment guarantees

Germany has reopened the investment guarantees for Pakistan which were closed a few years back, says a message received here Tuesday from Berlin. A banking project of worth $20 million has been initiated to be followed by other projects. Negotiations on r
Published 14 Oct, 2009 12:00am
Indonesia rejects bids in sukuk auction

Indonesia rejects bids in sukuk auction

Indonesia rejected all bids in its first monthly sukuk auction on Tuesday as investors sought higher yields, but analysts linked this to short-term sentiment rather than seeing it as a major setback for the Islamic market in the world's most populous Musl
Published 14 Oct, 2009 12:00am
Germany re-opens investment guarantees

Germany re-opens investment guarantees

Germany has reopened the investment guarantees for Pakistan which were closed a few years back, says a message received here Tuesday from Berlin. A banking project of worth $20 million has been initiated to be followed by other projects. Negotiations on r
Published 14 Oct, 2009 12:00am
Iraq in deals for major boost to oil production

Iraq in deals for major boost to oil production

Baghdad reached agreement with an Italian-led consortium on Tuesday to dramatically ramp up oil production in southern Iraq, and was considering competing bids from rival energy giants on another field. Oil Minister Hussein al-Shahristani told a news conf
Published 14 Oct, 2009 12:00am
Germany re-opens investment guarantees

Germany re-opens investment guarantees

Germany has reopened the investment guarantees for Pakistan which were closed a few years back, says a message received here Tuesday from Berlin. A banking project of worth $20 million has been initiated to be followed by other projects. Negotiations on r
Published 14 Oct, 2009 12:00am
China, India and Singapore to lead Asia's growth in 2010

China, India and Singapore to lead Asia's growth in 2010

Asia's economic recovery is on a firmer footing than three months ago with China set to easily reach its 8 percent growth target this year and expand 9 percent in 2010, while trade-reliant Singapore and Taiwan will see a sharp turnaround next year, a Reut
Published 14 Oct, 2009 12:00am
MQM delegation meets Zardari today

MQM delegation meets Zardari today

A delegation of Muttahida Qaumi Movement (MQM) led by Governor Sindh Dr Ishratul Ibad would meet President Asif Ali Zardari in Islamabad here on Wednesday (today) to discuss important issues related to the two coalition partners. Sources said that Preside
Published 14 Oct, 2009 12:00am
Airbus reaffirms A400M flight, shuffles jobs

Airbus reaffirms A400M flight, shuffles jobs

European planemaker Airbus reaffirmed plans to get the delayed A400M military transport plane flying by the end of the year as it announced a raft of management changes at its military division on Tuesday. The changes include the appointment of a new engi
Published 14 Oct, 2009 12:00am
US military says Afghan force numbers no secret

US military says Afghan force numbers no secret

The Pentagon said on Tuesday it had made no secret about the expanding US force in Afghanistan, despite a report suggesting troop numbers had been downplayed by the Obama administration. The Defence Department had consistently said the number of US forces
Published 14 Oct, 2009 12:00am
Record low rates spur UK economy closer to recovery

Record low rates spur UK economy closer to recovery

Britain's unprecedented monetary and fiscal stimulus has helped reverse a slide in house prices, buoyed retail sales and pushed the economy closer to recovery, according to a trio of surveys on Tuesday. The British Retail Consortium said retail sales rose
Published 14 Oct, 2009 12:00am
US military says Afghan force numbers no secret

US military says Afghan force numbers no secret

The Pentagon said on Tuesday it had made no secret about the expanding US force in Afghanistan, despite a report suggesting troop numbers had been downplayed by the Obama administration. The Defence Department had consistently said the number of US forces
Published 14 Oct, 2009 12:00am
German investor morale dips

German investor morale dips

German analyst and investor sentiment unexpectedly fell for the first time in three months in October to hit its lowest level since July, suggesting Europe's largest economy will recover only gradually. The Mannheim-based ZEW economic think tank said on T
Published 14 Oct, 2009 12:00am
Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia, the globe''s largest crude producer, plans to inject carbon dioxide into the world''s biggest oil field by 2013 to trap the climate-warming gas and improve production, the kingdom''s assistant petroleum minister said on Tuesday.
Published 14 Oct, 2009 12:00am
Chinese auto sales soar 77.9 percent

Chinese auto sales soar 77.9 percent

China's auto sales soared 77.9 percent in September from a year ago to 1.33 million units, an industry body said Tuesday, the seventh straight month that sales exceeded the one million unit mark. For the first nine months of the year, vehicle sales rose 3
Published 14 Oct, 2009 12:00am
Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia, the globe's largest crude producer, plans to inject carbon dioxide into the world's biggest oil field by 2013 to trap the climate-warming gas and improve production, the kingdom's assistant petroleum minister said on Tuesday.
Published 14 Oct, 2009 12:00am
US recession over, unemployment seen at 10 percent

US recession over, unemployment seen at 10 percent

The worst US recession since the Great Depression has ended, but weak household spending as the labour market struggles to create jobs will slow the pace of the economy's recovery, according to a survey released on Monday. The survey of 44 professional fo
Published 14 Oct, 2009 12:00am
Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia to inject CO2 into biggest oilfield

Saudi Arabia, the globe's largest crude producer, plans to inject carbon dioxide into the world's biggest oil field by 2013 to trap the climate-warming gas and improve production, the kingdom's assistant petroleum minister said on Tuesday.
Published 14 Oct, 2009 12:00am
BofA agrees to give SEC more details on Merrill

BofA agrees to give SEC more details on Merrill

Bank of America Corp agreed to give regulators more information about why it refrained from disclosing details about Merrill Lynch's performance before it bought the investment bank, federal regulators said on Tuesday. The agreement, still subject to cour
Published 14 Oct, 2009 12:00am
MQM delegation meets Zardari today

MQM delegation meets Zardari today

A delegation of Muttahida Qaumi Movement (MQM) led by Governor Sindh Dr Ishratul Ibad would meet President Asif Ali Zardari in Islamabad here on Wednesday (today) to discuss important issues related to the two coalition partners. Sources said that Preside
Published 14 Oct, 2009 12:00am
US soyabean futures soar

US soyabean futures soar

US soyabean futures closed sharply higher on Monday on a slowdown in the US harvest due to rain and snow and a freeze over the weekend that likely harmed some of the immature US crop. CBOT November soya up 35 cents at $9.99 a bushel. Funds bought 5,000 lo
Published 14 Oct, 2009 12:00am
US Senate panel endorses healthcare overhaul

US Senate panel endorses healthcare overhaul

A key US Senate committee endorsed a sweeping healthcare overhaul on Tuesday, gaining the support of an influential Republican and delivering President Barack Obama a victory on his top domestic priority. The Democratic-controlled Senate Finance Committee
Published 14 Oct, 2009 12:00am
Malaysian palm oil futures slightly up

Malaysian palm oil futures slightly up

Malaysian palm oil futures ended 0.5 percent higher on Tuesday, easing from more than two-week highs hit earlier on profit-taking, although a crude oil rally and recovering exports kept sentiment up. Prices of palm oil had been on the decline in the last
Published 14 Oct, 2009 12:00am
India 'confident' of finding solution to IHK problems

India 'confident' of finding solution to IHK problems

India is "confident" of finding a solution to the insurgency in Occupied Kashmir, India's home minister said Tuesday, promising to start a dialogue with the region's politicians soon. "I am confident that within a short period of time we will be able to c
Published 14 Oct, 2009 12:00am
Indonesian tin exports down

Indonesian tin exports down

Indonesia's refined tin exports were estimated at 7,755.30 tonnes in September, down 29.5 percent from 11,000.56 tonnes in the same month a year ago, trade ministry data showed on Tuesday. About 89 percent of the tin was shipped to Singapore in September,
Published 14 Oct, 2009 12:00am
India 'confident' of finding solution to IHK problems

India 'confident' of finding solution to IHK problems

India is "confident" of finding a solution to the insurgency in Occupied Kashmir, India's home minister said Tuesday, promising to start a dialogue with the region's politicians soon. "I am confident that within a short period of time we will be able to c
Published 14 Oct, 2009 12:00am
Oil prices drop in Asia

Oil prices drop in Asia

Oil edged down to about $73 a barrel on Tuesday, after rising for three straight sessions to settle at a seven-week high the previous day, buoyed by a weak dollar and optimism over the pace of global economic recovery. With earnings from a number of major
Published 14 Oct, 2009 12:00am
Creation of ''Pak-China Holding Company'' proposed

Creation of ''Pak-China Holding Company'' proposed

Prime Minister Syed Yousuf Raza Gilani on Tuesday said Pakistan wishes to achieve its objective of a robust economy through partnerships and joint investments with China in all fields. He was talking to Levin Zhou, President of China International Capital
Published 14 Oct, 2009 12:00am
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