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Print - 2010-04-07
'Stair' to help check huge tax gap under IRS: FBR

'Stair' to help check huge tax gap under IRS: FBR

The Federal Board of Revenue is planning to equip the Inland Revenue Services (IRS) management with an integrated domestic taxes technology using state of the art system ie System Transparent Analysis of Inland Revenue (Stair) for checking huge gap in inc
Published 07 Apr, 2010 12:00am
European stocks hit 18-month high

European stocks hit 18-month high

European stocks hit an 18-month closing high for a second straight session on Tuesday, boosted by commodity shares, which advanced on expectations of improving demand outlook for metals and oils following recent robust data. However, the gains in equities
Published 07 Apr, 2010 12:00am
European CDS tighten

European CDS tighten

European corporate credit default swap spreads were tighter on Tuesday, alongside firmer European equities, which tracked gains in the United States that were inspired by strong jobs data. The data, published on Friday, showed US employers created jobs in
Published 07 Apr, 2010 12:00am
European CDS tighten

European CDS tighten

European corporate credit default swap spreads were tighter on Tuesday, alongside firmer European equities, which tracked gains in the United States that were inspired by strong jobs data. The data, published on Friday, showed US employers created jobs in
Published 07 Apr, 2010 12:00am
Indian shares barely changed

Indian shares barely changed

Indian shares tested fresh 25-month highs on Tuesday but pared most of their early gains to close barely changed, even as world stocks edged up, on resistance after the recent steep rally. Outsourcers, which reap a major chunk of their revenue from export
Published 07 Apr, 2010 12:00am
Tuesday early afternoon trade: stocks little changed

Tuesday early afternoon trade: stocks little changed

US stocks were little changed on Tuesday as the financial sector got a lift from brokers' comments on banks, which offset investors' worries about the impact of rising Treasury yields. Investors also appeared reluctant to make any large moves ahead of the
Published 07 Apr, 2010 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Tuesday as importers started buying dollars after the local unit rose earlier in the day to touch a 19-month high. The dollar's strength against the euro added to the rupee's weakness back home, dealers said. The partially con
Published 07 Apr, 2010 12:00am
Swiss franc off highs

Swiss franc off highs

The Swiss franc traded near flat against the euro on Tuesday after pulling back from an all time high last week in the wake of talk that the Swiss National Bank had stepped in to stem the franc's sharp rise. "Just prior to the long weekend, a wave of euro
Published 07 Apr, 2010 12:00am
Euro falls broadly in London

Euro falls broadly in London

The euro fell broadly on Tuesday after reports Greece wants to amend a European Union aid deal highlighted Athens's deficit problems, prompting traders to dump the European currency. Media reports said Greece wanted to bypass an International Monetary Fun
Published 07 Apr, 2010 12:00am
Sterling slips versus dollar

Sterling slips versus dollar

Sterling fell against the dollar on Tuesday, hit by opinion polls which highlighted political uncertainty as Prime Minister Gordon Brown called a parliamentary election for May 6. Brown confirmed the date of the election, forecast to be closely contested.
Published 07 Apr, 2010 12:00am
Suu Kyi's party apologises for its 'failures'

Suu Kyi's party apologises for its 'failures'

The party of detained opposition leader Aung San Suu Kyi on Tuesday apologised for its failure to bring democracy to army-ruled Myanmar, a week after announcing it would boycott this year's election. The National League for Democracy (NLD), which has ange
Published 07 Apr, 2010 12:00am
30 Taliban die in firefight in Afghanistan

30 Taliban die in firefight in Afghanistan

Afghan and foreign troops killed 30 Taliban in a fierce firefight in western Afghanistan on Tuesday to prevent them disrupting a key infrastructure project, a military commander said US special forces, Marines and Afghan soldiers fought insurgents for 13
Published 07 Apr, 2010 12:00am
Khodorkovsky ridicules new trial

Khodorkovsky ridicules new trial

Jailed Russian oil tycoon Mikhail Khodorkovsky on Tuesday ridiculed charges that he stole $30 billion of oil from his own company, beginning his defence in a trial that could keep him in prison for another 22 years. Khodorkovsky, once Russia's richest man
Published 07 Apr, 2010 12:00am
UN calls for restraint in Central Asia water row

UN calls for restraint in Central Asia water row

UN Secretary-General Ban Ki-moon urged Central Asian leaders on Tuesday to resolve disputes over cross-border water use that have threatened stability in the region. Water sharing is a thorny issue in Central Asia, one of the world's driest regions, where
Published 07 Apr, 2010 12:00am
Protesters in Kyrgyzstan storm government office

Protesters in Kyrgyzstan storm government office

Kyrgyz protesters took a regional governor hostage when they stormed a government building in the north-western town of Talas, the opposition and witnesses said. "The building (government headquarters) has been taken over. The governor is here. He has bee
Published 07 Apr, 2010 12:00am
Israel begins distributing biochemical war protection kits

Israel begins distributing biochemical war protection kits

Israel Tuesday began distributing millions of protection kits against biochemical warfare, Deputy Defence Minister Matan Vilnai announced, stressing the campaign was not linked to any imminent threat. "We have equipped ourselves with millions of protectio
Published 07 Apr, 2010 12:00am
Abbas sacks his chief of staff

Abbas sacks his chief of staff

The Palestinian president has sacked his chief of staff following an investigation into allegations he had sought to exploit his influence for sexual favours, a Palestinian newspaper reported. In a letter published by al-Quds newspaper on Tuesday, Preside
Published 07 Apr, 2010 12:00am
Palestinians see US Middle East push at 'dead end'

Palestinians see US Middle East push at 'dead end'

The United States has reached a dead end in its attempts to revive Middle East peace talks, a senior Palestinian official said on Tuesday, citing Israeli building on occupied land. The West Bank-based Palestinian Authority has demanded a full halt to Isra
Published 07 Apr, 2010 12:00am
String of bombings kill 49 in Baghdad

String of bombings kill 49 in Baghdad

At least five bombs ripped through apartment buildings across Baghdad Tuesday and another struck a market, killing 49 people and wounding more than 160, authorities said. Iraqi officials blamed al Qaeda in Iraq insurgents for the violence - the latest sig
Published 07 Apr, 2010 12:00am
50 killed in Rio de Janeiro flooding

50 killed in Rio de Janeiro flooding

Flooding from torrential rains has claimed at least 50 lives in Brazil's Rio de Janeiro state, leaving streets submerged and prompting authorities Tuesday to raise an alarm over potentially deadly mudslides. Eduardo Paes, mayor of the city of Rio de Janei
Published 07 Apr, 2010 12:00am
China-based cyberspy group targeted India

China-based cyberspy group targeted India

A cyber-espionage group based in south-west China stole documents from the Indian Defence Ministry and emails from the Dalai Lama's office, a group of Canadian researchers said in a report released on Tuesday. The cyberspies used popular online services,
Published 07 Apr, 2010 12:00am
Protesters seek change in Egypt, scuffle with police

Protesters seek change in Egypt, scuffle with police

Egyptian protesters demanding an end to President Hosni Mubarak's rule scuffled with security forces on Tuesday and dozens were detained, witnesses and security sources said. "Down, down, Hosni Mubarak," members of one group of more than 200 chanted as th
Published 07 Apr, 2010 12:00am
Turkish police detain more military officers

Turkish police detain more military officers

Turkish police launched a major operation to detain up to 90 military officers in connection with an alleged 2003 coup plot, before being stopped by the chief prosecutor of Istanbul, Turkish media reported on Tuesday. The latest detentions of high ranking
Published 07 Apr, 2010 12:00am
Oil sanctions threat 'a joke', says Iranian official

Oil sanctions threat 'a joke', says Iranian official

The idea of international sanctions on Iranian oil exports is a joke, a senior Iranian official said on Tuesday, adding Iran would not abandon its disputed nuclear work despite mounting international pressure. US President Barack Obama is pushing for new
Published 07 Apr, 2010 12:00am
PHDEC implementing mango supply chain project under APASLP

PHDEC implementing mango supply chain project under APASLP

Pakistan Horticulture Development and Export Company (PHDEC) is implementing mango supply chain project under Australia-Pakistan Agriculture Sector Linkages Programme (APASLP). Chief operating officer PHDEC, Muhammad Iqbal said the partnership is a combin
Published 07 Apr, 2010 12:00am
Land audit of 5,500 housing schemes completed in Punjab

Land audit of 5,500 housing schemes completed in Punjab

In pursuance of the directions of Punjab Chief Minister Muhammad Shahbaz Sharif, land audit of 5,500 housing schemes has been completed in the province of Punjab. In the survey, it has been revealed that developers have occupied the state owned watercours
Published 07 Apr, 2010 12:00am
Shan holds OFE to attract consumers

Shan holds OFE to attract consumers

Shan Foods Private Limited has organised exciting promotional activities titled "Oriental Food Experience" (OFE) here at Park Towers Mall. These events were held on two consecutive weekends, where Live food preparation using oriental recipe variants was c
Published 07 Apr, 2010 12:00am
I'm confident our fielding will improve, says Afridi

I'm confident our fielding will improve, says Afridi

The Pakistan team has been undergoing exhausting drills at the National Cricket Academy in Lahore, under new coach Waqar Younis, aimed at raising their fielding standards. Afridi hurt a finger last week, while Gul and Yasir Arafat sustained injuries to th
Published 07 Apr, 2010 12:00am
Sixth AFC President's Cup 2010: KRL to visit Rangoon next year

Sixth AFC President's Cup 2010: KRL to visit Rangoon next year

National Soccer Champions KRL will return to AFC club competitions after 10 years when they will take on Tajikistan's Vakhsh Qurghonteppa, runners-up to Dordoi in the 2006 AFC President's Cup, Nagacorp of Cambodia, and renowned Sports Club of Sri Lanka in
Published 07 Apr, 2010 12:00am
Pakistan to bank on spinners in Twenty20 World Cup: Waqar

Pakistan to bank on spinners in Twenty20 World Cup: Waqar

Pakistan cricket team's newly appointed coach and former captain, Waqar Younis hinted that they will be banking upon spinners in the Twenty20 World Cup in West Indies later this month. "We have variety of all types of bowlers but I think we have edge in s
Published 07 Apr, 2010 12:00am
I will remain in India until I clear my name: Malik

I will remain in India until I clear my name: Malik

Former Pakistan cricket captain Shoaib Malik and his fiance Indian tennis star Sania Mirza faced the media together in India on Monday, making it clear that the raging controversy over his alleged first wife has not affected their relationship. The celebr
Published 07 Apr, 2010 12:00am
Australia joins Asian challenge

Australia joins Asian challenge

The Asian challenge at the World Cup in South Africa will come from a two-continent front. Australia is participating in the World Cup as a representative of the Asian Football Confederation for the first time and is the most likely of the qualified quart
Published 07 Apr, 2010 12:00am
Inter varsity Hockey Championship begins

Inter varsity Hockey Championship begins

The final round of week-long all Pakistan Inter university championship started at University of Peshawar (UoP) on Tuesday in which a total of 13 teams all over Pakistan are participating. Initially sixty-four teams participated in the event and their mat
Published 07 Apr, 2010 12:00am
North Zone body to hold cricket trials from April 12

North Zone body to hold cricket trials from April 12

North Zone Cricket Association President, Mian Mubeen has announced to hold trial matches to pick two teams of the Zone for upcoming PCB Inter Zonal senior cricket tournament. Talking to the media, Mobin said that they have short listed as many as 120 pla
Published 07 Apr, 2010 12:00am
New Zealand dollar pressured

New Zealand dollar pressured

The New Zealand dollar fell to a nine-year low against the Australian dollar on Tuesday and also dipped on the US dollar, as a rise in Australian interest rates highlighted the differing fortunes of the neighbouring economies. The Reserve Bank of Australi
Published 07 Apr, 2010 12:00am
Dollar, yuan NDFs fall

Dollar, yuan NDFs fall

Dollar/yuan six-month offshore forwards fell to their lowest since August 2008 on Tuesday, implying greater future yuan appreciation, after the United States put off a report due next week that could have labelled China a "currency manipulator". The drop
Published 07 Apr, 2010 12:00am
Australia central bank raises rates

Australia central bank raises rates

Australia's central bank raised its key cash rate by 25 basis points to a 14-month high of 4.25 percent on Tuesday and flagged further moves ahead as the resource-rich nation rides a tide of Asian demand. The Australian dollar climbed and bill futures sli
Published 07 Apr, 2010 12:00am
Dollar hits seven-month high

Dollar hits seven-month high

The dollar retreated from a seven-month high against the yen on Monday as investors booked profits following four days of gains for the US currency. Higher oil and metals prices helped propel the Canadian dollar to a 20-month high against its US counterpa
Published 07 Apr, 2010 12:00am
Australian dollar hit by soft Euro

Australian dollar hit by soft Euro

The Australian dollar gained after the Reserve Bank of Australia (RBA) raised its cash rate on Tuesday although with many in the market already holding the currency, the hike wasn't enough to propel it up substantially. The euro tumbled as bearish sentime
Published 07 Apr, 2010 12:00am
Malaysian ringgit, Taiwan dollar lead Asian currencies' rally

Malaysian ringgit, Taiwan dollar lead Asian currencies' rally

The Malaysian ringgit and Taiwan dollar led another broad Asian rally on Tuesday, spurred by prospects for a revaluation of the Chinese yuan and bullish US economic data. Speculation on a yuan revaluation later this year buoyed Asian currencies as some, s
Published 07 Apr, 2010 12:00am
Recovery bets lift Wall Street

Recovery bets lift Wall Street

US stocks rose on Monday, pushing the Dow up near the 11,000 level, as signs of a turnaround in the US labour market bolstered hopes the economy is strengthening and the profit outlook is brightening. Shares of natural resources companies led the gains on
Published 07 Apr, 2010 12:00am
Taiwan stocks finish firmer

Taiwan stocks finish firmer

Taiwan stocks rose 0.79 percent to a 10-week closing high on Tuesday, with technology shares including HTC Corp leading the way as gains on Wall Street fuelled optimism over tech demand in the coming months. Analysts say most technology companies in Taiwa
Published 07 Apr, 2010 12:00am
Ukraine's Avangard plans London IPO

Ukraine's Avangard plans London IPO

Ukraine's biggest egg producer Avangard is planning a stock-market float in London, the first firm from the Commonwealth of Independent States (CIS) to announce a capital raising in the UK this year. The company, which has over 16 million birds, said on T
Published 07 Apr, 2010 12:00am
Tokyo stocks dip after 18-month highs

Tokyo stocks dip after 18-month highs

Japan's Nikkei average fell 0.5 percent on Tuesday as profit-taking emerged after successive days of 18-month highs, with exporters such as Canon Inc losing ground on a slightly stronger yen. Analysts said the decline would be limited on growing prospects
Published 07 Apr, 2010 12:00am
Japanese government bonds fall

Japanese government bonds fall

Longer-dated Japanese government bonds fell on Tuesday, hurt by the benchmark US Treasury note yield hitting an 18-month high the previous day, although bargain-hunting after a 10-year auction limited losses. The yield curve steepened with shorter-dated n
Published 07 Apr, 2010 12:00am
Japanese government bonds fall

Japanese government bonds fall

Longer-dated Japanese government bonds fell on Tuesday, hurt by the benchmark US Treasury note yield hitting an 18-month high the previous day, although bargain-hunting after a 10-year auction limited losses. The yield curve steepened with shorter-dated n
Published 07 Apr, 2010 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices slid on Monday with benchmark yields touching 4 percent for the first time in 10 months, after upbeat data boosted bets the economic recovery will quicken, paring safe-haven demand for bonds. The market came off its session lows on stro
Published 07 Apr, 2010 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices slid on Monday with benchmark yields touching 4 percent for the first time in 10 months, after upbeat data boosted bets the economic recovery will quicken, paring safe-haven demand for bonds. The market came off its session lows on stro
Published 07 Apr, 2010 12:00am
South Korean bonds dip

South Korean bonds dip

South Korean short-term bond prices fell on Tuesday as the plunging 91-day certificate of deposit (CD) rate sparked cut-loss sales of the bonds bought in relation to their interest rate swaps deals, analysts said. The CD rate dropped 9 basis points to a n
Published 07 Apr, 2010 12:00am
South Korean bonds dip

South Korean bonds dip

South Korean short-term bond prices fell on Tuesday as the plunging 91-day certificate of deposit (CD) rate sparked cut-loss sales of the bonds bought in relation to their interest rate swaps deals, analysts said. The CD rate dropped 9 basis points to a n
Published 07 Apr, 2010 12:00am
Malaysia ends at 25-month high; Manila jumps

Malaysia ends at 25-month high; Manila jumps

Indonesia's stock index slipped to end down on Tuesday as investors took a step back after the index hit another record high in early trade while other Southeast Asian stocks ended up, tracking gains in the United States, where sentiment was boosted by a
Published 07 Apr, 2010 12:00am
Seoul shares end flat

Seoul shares end flat

Seoul shares finished nearly flat on Tuesday as shares in key technology issues including Samsung Electronics retreated, but rises in brokerages such as Woori Investment lent support. The Korea Composite Stock Price Index (KOSPI) finished up 0.06 percent
Published 07 Apr, 2010 12:00am
China shares close little changed

China shares close little changed

China's main stock index ended little changed on Tuesday as the market consolidated after breaking to a higher range in last week's rally, while property stocks eased on fears of government steps to curb prices. The Shanghai Composite Index, which last we
Published 07 Apr, 2010 12:00am
Australian shares touch 18-month high

Australian shares touch 18-month high

Australian stocks rose 0.9 percent on Tuesday to touch an 18-month high, shrugging off an interest rate rise as the prospects of stronger global demand and merger activity lifted resources shares. Share prices barely budged after the central bank hiked it
Published 07 Apr, 2010 12:00am
Toronto stocks end higher

Toronto stocks end higher

Toronto's main stock market index rose to an 18-month high on Monday before paring gains, as rising oil prices and firm US economic data bolstered hopes for a sustained recovery. Investors welcomed fresh reports that showed the US services sector grew abo
Published 07 Apr, 2010 12:00am
South Korea 2009 deficit smaller than expected

South Korea 2009 deficit smaller than expected

South Korea posted a smaller-than-expected fiscal deficit in 2009 as Asia's fourth-largest economy performed better than initially thought, the finance ministry said on Tuesday. The country posted a fiscal deficit of 43.2 trillion won ($38.50 billion) in
Published 07 Apr, 2010 12:00am
Hitachi eyes M&A for growth, rejigs governance

Hitachi eyes M&A for growth, rejigs governance

Loss-making Hitachi Ltd will seek more alliances and acquisitions, as well as introduce a new governance system to help accelerate decision-making across the sprawling conglomerate, its new president said. A high cost structure, bureaucratic management st
Published 07 Apr, 2010 12:00am
Japan to eye numerical target in fiscal strategy

Japan to eye numerical target in fiscal strategy

Japanese Prime Minister Yukio Hatoyama said on Tuesday the government will aim to set a numerical target when it issues a fiscal discipline strategy in June. The government is moving towards making the reduction of debt to gross domestic product its ultim
Published 07 Apr, 2010 12:00am
Kan praises BoJ, but pressure likely to stay

Kan praises BoJ, but pressure likely to stay

Japan's finance minister on Tuesday praised the work of Bank of Japan Governor Masaaki Shirakawa two years into his term but reiterated government expectations for close co-operation with the BoJ to end deflation. At the same time, the banking minister, w
Published 07 Apr, 2010 12:00am
Samsung set to top record first quarter as recovery builds

Samsung set to top record first quarter as recovery builds

Samsung Electronics Co Ltd should beat its record first-quarter profit in the coming two periods as the world's largest semiconductor and flat-screen TV maker rides a broad global technology recovery. Increased investments by Samsung and its rivals in the
Published 07 Apr, 2010 12:00am
Samsung set to top record first quarter as recovery builds

Samsung set to top record first quarter as recovery builds

Samsung Electronics Co Ltd should beat its record first-quarter profit in the coming two periods as the world's largest semiconductor and flat-screen TV maker rides a broad global technology recovery. Increased investments by Samsung and its rivals in the
Published 07 Apr, 2010 12:00am
Spain jobless rises to 4.16 million, set to go higher

Spain jobless rises to 4.16 million, set to go higher

Spanish unemployment rose slightly in March to 4.16 million, with the services sector worst hit, and could continue rising into next year despite signs the pace of job losses is slowing. The Spanish economy has shed well over half a million jobs in the pa
Published 07 Apr, 2010 12:00am
British MPs slam Kraft over Cadbury plant closure

British MPs slam Kraft over Cadbury plant closure

US food company Kraft was irresponsible and unwise in reversing its commitment to keep Cadbury's Somerdale plant open following its successful take-over battle for the chocolate maker, a committee of British lawmakers said. The Business, Innovation and Sk
Published 07 Apr, 2010 12:00am
Renault set for new tie-up with Daimler

Renault set for new tie-up with Daimler

France's Renault and Germany's Daimler are expected to announce a partnership Wednesday to exchange capital and share know-how in building smaller cars, a French minister said. Renault-Nissan boss Carlos Ghosn will join his Daimler counterpart Dieter Zets
Published 07 Apr, 2010 12:00am
Moody's lowers Iceland's outlook over Icesave debacle

Moody's lowers Iceland's outlook over Icesave debacle

Rating agency Moody's lowered its outlook on Iceland's debt to "negative" from "stable" on Tuesday, citing uncertainty over a compensation deal for the failed Icesave bank. "The recovery of the Icelandic economy is threatened by the delays in the resoluti
Published 07 Apr, 2010 12:00am
Indonesia rates unchanged, plays down price risk

Indonesia rates unchanged, plays down price risk

Indonesia's central bank kept interest rates unchanged as expected but emphasised that subdued price pressures meant inflation this year would be at the lower end of its target range, signalling it was in no rush to raise rates. Most analysts expect the c
Published 07 Apr, 2010 12:00am
Bank of Canada says housing seems firmly valued

Bank of Canada says housing seems firmly valued

Canada's housing market is not in a price bubble but seems firmly valued and housing starts are rising in response, Bank of Canada Governor Mark Carney said in a magazine interview released on Tuesday. The interview, conducted on March 16 and published on
Published 07 Apr, 2010 12:00am
Chile central bank cuts GDP forecast

Chile central bank cuts GDP forecast

Chile's central bank cut its outlook for 2010 economic growth to 4.25-5.25 percent from 4.5-5.5 percent on Tuesday, citing the economic impact of a massive February 27 earthquake, and raised its outlook for inflation. The bank forecast in its April Moneta
Published 07 Apr, 2010 12:00am
Total charged with graft in Iraqi oil-for-food plan

Total charged with graft in Iraqi oil-for-food plan

French oil giant Total said Tuesday it has been charged with corruption and influence-peddling relating to the United Nations' Iraqi oil-for-food programme of the 1990s. A judge decided on February 27 to charge the company and several other defendants des
Published 07 Apr, 2010 12:00am
Islamic finance bodies have $5 trillion potential: Moody's

Islamic finance bodies have $5 trillion potential: Moody's

Islamic financial bodies, which adhere to religious proscriptions against interest, have a market potential of at least 5.0 trillion dollars, Moody's Investors Service said on Tuesday. But Moody's added that such institutions needed to develop their own d
Published 07 Apr, 2010 12:00am
German car sales plunge

German car sales plunge

German car sales plunged by 27 percent in March on a 12-month comparison but exports climbed owing to a rebound of global markets, figures from the VDA auto federation showed on Tuesday. German sales had been boosted in 2009 by a state-funded car scrappin
Published 07 Apr, 2010 12:00am
Asian summit to weigh winding down stimulus measures

Asian summit to weigh winding down stimulus measures

Southeast Asian leaders will consider ways to unwind emergency stimulus policies without jeopardising recovery in the fast-growing region at a summit this week in Hanoi, a draft statement says. But Myanmar, due to hold its first election in two decades, c
Published 07 Apr, 2010 12:00am
Bangladesh's 'stable' economy earns first credit rating

Bangladesh's 'stable' economy earns first credit rating

Bangladesh got its first sovereign credit rating Tuesday, with Standard & Poor's saying Dhaka's economic outlook was stable but constrained by high levels of debt and poor revenue collection. The move means import and export costs will be significantly lo
Published 07 Apr, 2010 12:00am
Bosnia hopes to attract Islamic investments

Bosnia hopes to attract Islamic investments

Bosnia, still recovering from the 1992-1995 war, hosted a conference on Tuesday in a bid to attract Islamic investors for projects estimated to total about 11 billion euros (14.7 billion dollars). Bosnia is highlighting its possible role as a link between
Published 07 Apr, 2010 12:00am
US job openings, hirings slip in February

US job openings, hirings slip in February

US job openings and hirings fell in February, according to government data on Tuesday that is unlikely to change perceptions a labor market recovery is underway. Job openings slipped to 2.72 million from 2.85 million in January, the Labor Department said
Published 07 Apr, 2010 12:00am
China defends yuan stance, keeps door open for change

China defends yuan stance, keeps door open for change

Beijing stoutly defended its currency policy on Tuesday, denying it manipulates the yuan and rejecting the argument a stronger exchange rate would erase the US trade deficit with China. At separate news briefings, a Foreign Ministry spokeswoman and two go
Published 07 Apr, 2010 12:00am
Greece battered on markets, denies u-turn on IMF

Greece battered on markets, denies u-turn on IMF

Markets pushed Greece's risk premium to a euro lifetime high on Tuesday amid growing doubts over the debt-laden country's capacity to resolve its debt crisis and fresh scepticism about an EU-IMF aid mechanism. "The crisis is far from over," said Diego Isc
Published 07 Apr, 2010 12:00am
OECD, Council of Europe agree new tax evasion treaty

OECD, Council of Europe agree new tax evasion treaty

The OECD and the Council of Europe said on Tuesday that they had agreed on an updated treaty on tax evasion and fraud that all countries can adopt as part of efforts to crack down on abuse. The Paris-based OECD group of developed nations and the Council o
Published 07 Apr, 2010 12:00am
Obama limits US use of nuclear arms

Obama limits US use of nuclear arms

President Barack Obama unveiled a new policy on Tuesday restricting US use of nuclear weapons but sent a stern message to nuclear-defiant Iran and North Korea that they remain potential targets. Kicking off a hectic week for Obama's nuclear agenda, his ad
Published 07 Apr, 2010 12:00am
Australia's central bank raises rates

Australia's central bank raises rates

Australia's central bank raised its key cash rate by 25 basis points to a 14-month high of 4.25 percent on Tuesday and flagged further moves ahead as the resource-rich nation rides a tide of Asian demand. The Australian dollar climbed and bill futures sli
Published 07 Apr, 2010 12:00am
Obama limits US use of nuclear arms

Obama limits US use of nuclear arms

President Barack Obama unveiled a new policy on Tuesday restricting US use of nuclear weapons but sent a stern message to nuclear-defiant Iran and North Korea that they remain potential targets. Kicking off a hectic week for Obama's nuclear agenda, his ad
Published 07 Apr, 2010 12:00am
Bank tax could raise 50 billion euros a year: EU

Bank tax could raise 50 billion euros a year: EU

An EU tax on banks, which finance ministers will examine this month, could generate annual revenues of at least 50 billion euros, a European Commission study showed on Tuesday. Proposals for such a tax, pushed by Sweden which already operates a national l
Published 07 Apr, 2010 12:00am
Pakistan has secured its nuclear weapons: Obama

Pakistan has secured its nuclear weapons: Obama

President Obama, underscoring the need for nuclear safety around the world, has said he is confident that Pakistan has secured its atomic weapons. "I feel confident that Pakistan has secured its nuclear weapons. I am concerned about nuclear security all a
Published 07 Apr, 2010 12:00am
US to fine Toyota $16.4 million

US to fine Toyota $16.4 million

Toyota Motor Corp faces a proposed $16.4 million fine from US regulators who said the automaker knowingly delayed a massive recall for defective accelerator pedals. The civil penalty, the largest that the US Department of Transportation has ever sought, i
Published 07 Apr, 2010 12:00am
Pakistan has secured its nuclear weapons: Obama

Pakistan has secured its nuclear weapons: Obama

President Obama, underscoring the need for nuclear safety around the world, has said he is confident that Pakistan has secured its atomic weapons. "I feel confident that Pakistan has secured its nuclear weapons. I am concerned about nuclear security all a
Published 07 Apr, 2010 12:00am
Oil slips from 18-month high

Oil slips from 18-month high

Oil fell a few cents as the dollar firmed on Tuesday, sliding from an 18-month high near $87 reached a day earlier on data showing the pace of the US economic rebound has gathered steam.m The US services sector grew at its swiftest in nearly four years in
Published 07 Apr, 2010 12:00am
Import of second hand machinery: SBP extends LTFF facility till June 30

Import of second hand machinery: SBP extends LTFF facility till June 30

The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular
Published 07 Apr, 2010 12:00am
US rice ends firm

US rice ends firm

US rice futures on the Chicago Board of Trade rose 2 percent on Monday on a continued rebound after sliding to a nine-month low last week in reaction to the government's big 2010 US planting forecast, traders said. CBOT May ended up 27-1/2 cents at $12.65
Published 07 Apr, 2010 12:00am
Import of second hand machinery: SBP extends LTFF facility till June 30

Import of second hand machinery: SBP extends LTFF facility till June 30

The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular
Published 07 Apr, 2010 12:00am
Egypt sells 200 tonnes of cotton

Egypt sells 200 tonnes of cotton

Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 200 tonnes of Giza 86 cotton in the week that ended on April 3, an Alcotexa official told Reuters on Tuesday. The deal brings Alcotexa's export commitments for the 2009/10 seaso
Published 07 Apr, 2010 12:00am
Import of second hand machinery: SBP extends LTFF facility till June 30

Import of second hand machinery: SBP extends LTFF facility till June 30

The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular
Published 07 Apr, 2010 12:00am
Malaysian palm oil dips

Malaysian palm oil dips

Malaysia palm oil futures fell on Tuesday as the stronger ringgit and reports of higher production last month weighed on sentiment. The benchmark June crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended down 0.4 percent at 2,520 ringg
Published 07 Apr, 2010 12:00am
'Stair' to help check huge tax gap under IRS: FBR

'Stair' to help check huge tax gap under IRS: FBR

The Federal Board of Revenue is planning to equip the Inland Revenue Services (IRS) management with an integrated domestic taxes technology using state of the art system ie System Transparent Analysis of Inland Revenue (Stair) for checking huge gap in inc
Published 07 Apr, 2010 12:00am
US soyabean futures drop

US soyabean futures drop

US soyabean futures on the Chicago Board of Trade fell less than 1 percent on Monday amid ongoing pressure from expectations for a record South American soya harvest and world supplies to build, traders said. But trade quiet after the long holiday weekend
Published 07 Apr, 2010 12:00am
Index down 28.02 points

Index down 28.02 points

The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit 20-month high of 10,554.02 points, up 106.18 points, on the back of continuing interest of foreign investors. However, after mid-session the investors opted profit tak
Published 07 Apr, 2010 12:00am
Index down 28.02 points

Index down 28.02 points

The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit 20-month high of 10,554.02 points, up 106.18 points, on the back of continuing interest of foreign investors. However, after mid-session the investors opted profit tak
Published 07 Apr, 2010 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (April 06, 2010).

Published 07 Apr, 2010 12:00am
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